Binder3 wednesday, march 12, 2014 by Newtelegraphonline

Sanctity of Truth Facebook.com/newtelegraph

Wednesday, March 12, 2014 Vol. 1 No. 22

twitter.com/newtelegraph1

www.newtelegraphonline.com

N150

Nigeria’s most authoritative newspaper in politics and business

Finance Ministry owing marketers nine months subsidy Page } 3

Shell shortlists Seplat, Glencore for N480bn oil blocs’ sale Adeola Yusuf

oyal Dutch Shell has released the confidential list of shortlisted bidders for its N480 billion

worth of oil blocs and assets in the Niger Delta, which holds a large portion of Nigeria’s 37 billion barrels of reserves. Spokesperson for

Shell’s subsidiary in Nigeria, Shell Petroleum Development Company, Precious Okolobo, confirmed to New Telegraph that the divestment of

assets, which include the Nembe Creek Pipeline and stakes in the Oil Mining Lease (OML) 29, was ongoing. He described the pro-

cess, in a telephone interview, as confidential while declining to make further comments on the transactions. CONTINUED ON PAGE 5

APC, combination of acids in container -Jonathan

lOpposition copied our manifesto, says Mu’azu lBafarawa urges Buhari to join PDP lPresident, Fashola, Aregbesola, Fayemi, Amosun meet on Ekiti, Osun polls Muhammad Ali and Anule Emmanuel

resident Goodluck Jonathan came down hard

on the opposition All Progressives Congress (APC) yesterday. Speaking at the NorthWest zonal rally of the

Peoples Democratic Party (PDP) in Kaduna, Jonathan described the merger of the Action Congress of Nigeria (ACN), the All

Nigeria Peoples Party (ANPP), the Congress for Progressive Change (CPC) and a faction of the All Progressives Grand

Alliance (APGA) which led to the formation of the APC as “a combination of different acids in a container”.

He advised PDP members not to be bothered by the propaganda of the APC in its bid to wrest CONTINUED ON PAGE 2

L-R: Vice President Namadi Sambo; President Goodluck Jonathan; Peoples Democratic Party (PDP) National Chairman, Dr. Adamu Mu’azu; Chairman, PDP Board of Trustees, Chief Tony Anenih; Governors Mukhtar Yero (Kaduna); Godswill Akpabio (Akwa Ibom); Ibrahim Dankwambo (Gombe) and Sule Lamido (Jigawa) at the rally…yesterday

MASSACRE

As members of the House of Representatives are mourning, killers are on the rampage in Taraba

Killings: Reps declare one-day mourning lMany feared killed as herdsmen, farmers clash in Taraba Philip Nyam and Ibrahim Abdul

he House of Representatives yesterday declared a one-day

mourning over the 59 students of the Federal Government College, Buni

AT A GLANCE

Yadi, Yobe State, who were massacred by suspected Boko Haram militants on

INSIDE

NEWS

POLITICS

BUSINESS

EDUCATION

Israeli Embassy suspends services indefinitely Page 4

Zoning: Death of Ondo State Speaker, Samuel Ajayi Adesina splits Assembly Page 42

Revenue Mobilisation Allocation and Fiscal Commission in a fix over new formula Page 31

Gani Fawehinmi’s library: A legacy for humanity Page 21

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

2 12 13 20 25 41 43 51

February 25, 2014. Speaker Aminu WaCONTINUED ON PAGE 2

Lagos

Thunder Storms O O

33 | 24 For subscription, advert and story tips, please call +234 (1)221 9496, 08033392655, 08023010222

NEWS

Sanctity of Truth

Wednesday, March 12, 2014

Tambuwal: This is one killing too many CONTINUED FROM PAGE 1

ziri Tambuwal, who announced this in his address to welcome members back to plenary, also described the activities of terrorists in the North East as callous and reprehensible. In an emotion-laden speech titled “One killing too many,” Tambuwal said Nigerians must unite to end the senseless killings, adding that government had no excuse again for failing to protect its citizens against terrorists, particularly hapless students. He said: “On February 25, 2014, the very day the House adjourned Plenary, Nigeria suffered a horrendous terrorist attack that struck a fatal blow at the heart and soul of the Nigerian nation and desecrated values that decent peoples of all nations hold dear. “On that night, about 59 students of the Federal Government College, Buni Yadi, Yobe State, were killed in the most heinous manner. Some of our future national leaders were mowed down in gruesome circumstances in their sleep. Some were shot dead while many were burnt beyond recog-

nition. That day was a day that will live in infamy in the history of this nation.” He explained that, “It is to remember these innocent children and other victims of violence in this country, that the House has declared today ‘A day of mourning’ to express our collective outrage on these killings that have gone on for far too long.” According to the speaker, “When innocent, harmless and defenceless women and children become the targets of these

heartless murderous bandits; when the lives of sleeping children are so callously snuffed out, it becomes clear that these agents of terror have murdered sleep and they henceforth deserve none.” Speaking further, Tambuwal noted: “In my brief statement immediately after that attack, I warned that Nigeria is running out of excuses for our failure to live up to our responsibility to protect our citizens. Today, I wish to amend that comment and declare that we have

run out of excuses. We no longer have any excuse for our inability to protect our innocent defenceless children from gratuitous violence.” The speaker decried the incessant bloodletting and killing of innocent Nigerians in the North East states of Adamawa, Borno and Yobe; in the North Central States of Benue and Plateau and in other parts of Nigeria. Tambuwal declared, “We wake up to the chilling news of the total annihilation of innocent,

law-abiding families and entire communities in the most callous, reprehensible and bizarre fashion. This cannot continue. We must rise up collectively and decisively to stop these orgy of deaths, destruction and waste.” He called on all arms of government and the Nigerian people to unite against terrorism in all its ramifications. “By this parameter, the Nigerian government must rise to the occasion. And by ‘government’, I do not mean only the Executive.

L-R: Governors Rauf Aregbesola of Osun State; Ibikunle Amosun of Ogun State; Babatunde Fashola of Lagos State and Kayode Fayemi of Ekiti State during their meeting with President Goodluck Jonathan at the State House, Abuja photo: timothy ikuomenisan

19.6%

The percentage of China’s population to the world population. Source: Blatantworld.com

$82.684m

The total amount spent on the by the US (the world’s highest). Source: Mirror.co.uk

$150.09

The amount of money spent per foot on an office space in Hong Kong (the world’s highest). Source: Mirror.co.uk

PDP will defeat APC in 2015, says Jonathan CONTINUED FROM PAGE 1

power from the ruling party in 2015 “because such gang ups will fail”. The president recalled that in 1999, two of the then registered political parties, the All Peoples Party (APP) and the Alliance for Democracy (AD), ganged up against the PDP but their efforts failed to defeat the party. According to him, AD produced the presidential candidate while APP produced the running mate but the alliance failed to stop PDP’s victory in 1999. The presidential candidate of the AD/APP alliance, Chief Olu Falae, lost to the PDP candidate, Chief Olusegun Obasanjo. Jonathan predicted that the current merger that produced APC will also fail. Describing the merger

as a combination of different acids in a container, the president said that great parties all over the world do not change their names and identities like the PDP. Jonathan cited the South African-based African National Congress (ANC) which has remained the same for over 100 years. He advised PDP members that “the moment you see a party changing like a rock undergoing metamorphosis, you should know that that is not where to go,’’ asking them to be committed to the party. According to him, PDP is the only democratic party that anybody can rise to the highest level in the party and in the country. “Other parties will not give me and you the

opportunity to be where we want to go,’’ he added. Jonathan, who said the PDP is still the dominant party in the North-West, also assured party members that the party will retain its dominance in the zone by winning Sokoto, Zamfara and Kano states in 2015. Speaking in the same vein, PDP National Chairman, Alhaji Ahmadu Adamu Muázu, said that “the entire manifesto of the APC is just a section of my party’s manifesto”. “This shows that even in governance, they will only do part of what we are able to do.’’ According to the chairman, he will soon convene a meeting of stakeholders to update the PDP manifesto and make it reflect more of the needs and aspirations of the people.

Mu’azu, who thanked party men for making him the chairman, said that he is not the “game changer’’ as he is popularly referred to. He said: “It is God the Almighty who has decided to change the party while I am the chairman.’’ He prayed for God’s guidance for the PDP and other parties but assured the gathering that the PDP will win in 2015. Also, former governor of Sokoto State, Alhaji Attahiru Bafarawa, urged one of the leading lights of the APC, Major-General Muhammadu Buhari (rtd), to join the PDP if he wants the unity and progress of the North, in particular, and the country as a whole. Bafarawa, who gave the advice at the rally, said that there is still vacancy

for Buhari in the ruling PDP. Bafarawa, who described Buhari as his respected leader and elder brother, noted that PDP already has five states out of seven in the North-West. “Therefore, my leader whom I respect in politics, by age and by everything, I’m assuring him that by joining PDP, he is going to help the North, the NorthWest, for the good of this country,’’ Bafarawa added. According to Bafarawa, since he joined the PDP a month ago, he has seen that all is well in the party so “we should all give it our support.’’ The former governor, who said that he is not looking for any appointment by joining the PDP, said that he is only out to serve his new party from C O N T I N U E D O N PA G E 3

We, in the Legislature are also part of government. And we cannot therefore merely join in the chorus of lamentations. Our duty is to act swiftly and decisively in the protection of the citizenry. “I humbly appeal to the Nigerian people to join in this struggle for the soul of our nation and embrace, as a sacred duty, the mission of restoring peace and stability in Nigeria. We must draw from the heartbreak of Buni Yadi, and other areas affected by mindless violence, an inspiration to rededicate ourselves to the cause of nation-building,” Tambuwal declared. According to Tambuwal, “If a tragedy of the Buni Yadi magnitude does not bring us together as one nation, if the loss of our innocent children whose only offence was that they went to school to gain education and wisdom in preparation for a future of service to Nigeria and humanity does not unite us in grief, then we need to ask ourselves C O N T I N U E D O N PA G E 3

TODAY’S WEATHER FORECAST PORT HARCOURT

34o 22o Thunder Storms

ABUJA

37o 22o Mostly Sunny

KANO

35o 14o Sunny

ENUGU

37o 24o Partially Cloudy

IBADAN

36o 24o Isolated Storms

CALABAR

34o 23o Partially Cloudy

MAIDUGURI

37o 19o Sunny

ONITSHA

34o 24o Partially Cloudy

NEWS

Sanctity of Truth

Wednesday, March 12, 2014

Fuel scarcity: Finance Ministry owing nine months subsidy, say marketers SCARCITY

Marketers blame Finance Ministry’s failure to pay nine months subsidy for scarcity Johnchuks Onuanyim Abuja

arketers yesterday accused the federal Ministry of Finance of being responsible for the fuel

scarcity in the country. They accused the ministry of owing them nine months subsidy, which is an accumulation of third quarter, fourth quarter (2013) and first quarter of this year. National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Aminu Abdulkardir, after a Central Working Committee (CWC) meeting of the association revealed

that the fuel supply in the country “is the 50 per cent of Nigerian National Petroleum Corporation supply capacity”. He also stated that beside the non-payment of the subsidy by the Ministry of Finance, the pipeline vandalism was also a problem in the supply of the available fuel as eight per cent of the product has to go through the pipeline and not haulage. He said: “The non-

payment is partly third quarter, fourth quarter and first quarter completely not paid. Our national consumption today is been supplied by the NNPC. And it is only 50% of NNPC product that is in circulation. “They have stepped up their supply trying to do what every stakeholder is supposed to be doing, but it is evidently clear that they alone cannot do it. “I, therefore, use this

L-R: Rivers State Governor, Chibuike Amaechi; former Prime Minister of Ireland, John Bruton and former British Foreign Secretary, Jack Straw, during an International Conference on Democracy and Good governance in Port Harcourt…yesterday.

Scores killed, houses torched in Taraba CONTINUED FROM PAGE 2

if we truly meet the basic spiritual requirements of nationhood. “We cannot claim to be one nation, if we cannot find unity in grief; just as we cannot claim to be a great nation when we are incapable of preventing horrendous attacks on our children peacefully asleep in their beds.” The House has again adjourned plenary till next Tuesday to enable standing committees complete work on the 2014 Budget. Meanwhile, scores of people are feared dead in an outbreak of conflict between Tiv farmers and nomadic Fulani herdsmen in southern parts of Taraba State. The fighting erupted

few hours after the Benue State Governor, Gabriel Torwua Suswam, in a meeting with President Goodluck Ebele Jonathan, requested the dislodgement of nomads from the state. Sources said that many were killed in some parts of Donga, Takum and Gishiri villages, Ibbi Local Government Area during which many houses were burnt down. Contacted, the state chairman of Miyetti Allah and secretary of Cattle Breeders, Alhaji Mafindi Umar Danburam, confirmed the clashes. According to him,’’ At least 12 of our members are reported to have been killed in some parts of Takum, Donga and Ibbi. “These Tiv merce-

naries crossed over to Taraba, and killed our members, they stole over 400 cows. The state Police Public Relations Officer, (PPRO), Joseph Kwaji, confirmed the fighting, but added that the police had no report of deaths arising from the crisis: “Security personnel have already been drafted to the crisis area, but we have not received any information on the number of deaths. “In Ibbi, one Manaseh Yonga, had reported to police that some Fulani nomads had invaded and attacked them and burnt their thatched mud huts. A woman was said to have been killed there, but I can’t tell the exact number of the casualties, for now,’’ he added.

Also confirming the attacks, the chairman, Ibbi Local Government Council, Alhaji Isiyaka Adamu, said, ‘’The Fulani nomads had a stopover at a village called Jinkai in Wukari before crossing the river down to another village, Gishiri, where a melee ensued during which lives were lost. At least, four or five persons were said to have been killed. ‘’There are pockets of attacks by mercenaries that come from the neighbouring Nasarawa and Plateau states on our communities. But measures have been taken by concerned authorities and normalcy is now restored,’’ he said. The fleeing Tiv farmers are taking refuge in Ibbi Town Motor Park.

medium, to appeal to the Ministry of Finance as a matter of urgency, to intervene and pay marketers accordingly, so that the argumentation of this shortfall can be achieved in a short while so that this scarcity will be a thing of the past. “We are been owed third and fourth quarters payment, which is last year and another first quarter pilling up to about nine months unpaid subsidy to marketers. We need to be paid this money because we are in business”. Aminu disclosed that his members are now moving products from coastal areas to the hinterland through roads even as he admitted that congestion at the terminals in Lagos is slowing down products evacuation to the northern and eastern parts of the country. “I can assure Nigerians that product availability has improved. Initial delay in vessels clearance at the port has been resolved. Our challenge now is gaining access to the terminals. You know it is normally busy and when you add the rush by us to reach the terminals and load product, you can imagine the gridlock”. The major challenge in the exercise, Aminu said, is the wide supply gap that has been created as a

result of the chain of processes at the tank farms. Commenting on the allegations of products diversion by marketers, the IPMAN president noted that, “the diversion is not illegal. The products are never diverted to another country but still being sold to Nigerians within Nigeria”. He said stakeholders are putting heads together to ensure that the vehicular gridlock does not stall product evacuation, assuring Nigerians that “neither government nor marketers are withholding all Nigerians. I urge Nigerians to exercise patient. “Nobody is withholding products and I urge Nigerians to be patient as we move products to the hinterland. If all stakeholders cooperate, the situation will ease before the week runs out. We should be careful when we leveled accusations. What Nigerians need to know is that pipeline vandalism is worsening the situation. “Under normal circumstances, eighty per cent of the products are supposed to be transported through pipelines. The rest are supposed to be moved through trucks. Widespread pipeline vandalism halted that plan, hence the resort to land haulage of the products,” the IPMAN president said.

President, South-West APC governors meet CONTINUED FROM PAGE 2

state to national level. Meanwhile, the President yesterday met behind closed doors with four South-West APC governors at the Presidential Villa, Abuja. The meeting, which lasted for over an hour, was attended by Babatunde Fashola (Lagos), Ibikunle Amosun (Ogun), Kayode Fayemi (Ekiti) and Rauf Aregbesola (Osun). After the meeting, the governors refused to disclose why they met

the president but it was learnt that some of the issues discussed centered on the June 21 and August 9 governorship elections in Ekiti and Osun states, some Federal Government projects in the zone and the National Conference. Said Fashola: “It was a private meeting, if there is need for you to know, the Presidential media aide will brief”. When reporters accosted Fayemi, he simply responded: “We came to discuss national issues with the President”.

NEWS

SUSPENSION Industrial action by workers of the Israeli Ministry of Foreign Affairs paralyses activities at Israeli Embassy in Abuja Lateef Ibrahim Abuja

he Embassy of the State of Israel in Nigeria has announced the suspension of all Protocol, Diplomatic and Consular services in the country until further notice. The development, according to a statement by Mr Tony Obiechina, Senior Media and Political Officer, Embassy of Israel, Abuja, was sequel to the ongoing industrial action by workers of the Israeli Ministry of Foreign Affairs to press for improved conditions of service for the entire Foreign Service personnel worldwide. Obiechina quoted a statement from the Foreign Workers’ Association

Sanctity of Truth

Wednesday, March 12, 2014

Israeli Embassy in Nigeria suspends services indefinitely in Jerusalem, as saying that the action became necessary “because of the procrastination on the part of the finance ministry and its failure to make any progress in resolving the labor dispute.” The measures, the statement added, are being implemented by all Israeli missions abroad and are the result of a full year of fruitless negotiations between the Israel Foreign Ministry’s Workers’ Union and the Israel Ministry of Finance. “This is a last resort according to the recognized rights of workers under Israeli law,” it said. Full text of the statement reads: “The Foreign Service Workers’ Association wishes to inform you that all Protocol and Consular services and treatment provided to the foreign diplomatic corps – missions and international

National Conference: Northern elders allege plot to weaken North Muhammad Kabir and Geoffrey Ekenna

he Northern Elders Forum has alleged that the forthcoming National Conference has violated all the principles of justice, fairness, inclusiveness and equity, branding it a grand design to weaken the already pauperized northern region. The northern leaders who rose from a two-day, meeting in Kano, said there is an “obvious imbalance” in representation among geo-political zones, religious and other interests to the conference and therefore directed all northern delegates to the conference to demand that the imbalance be redressed before the conference begins any business. Also yesterday, a member of the forum, Dr. Solomon Dalong, explained why the elders now prefer a Sovereign National Conference. The leaders, who submitted two position pa-

pers, ‘ ‘The Kano Declaration ‘ and a communiqué, noted that the composition of the delegations to the conference, raises serious doubts on the sincerity of the administration to organize a conference that will truly address the complex problems of the nation. The communiqué, read by Baba Hakim Ahmad, noted with dismay that a conference built on a foundation of injustice and contempt for all known values which should assure all citizens that it is not a design to weaken them, will not produce any useful conclusions, “rather it will justify the allegations that it is a calculated attempt at exterminating the entire region.” The leaders similarly advised delegates from the North to ensure that the conference agenda is carefully chosen to avoid issues that may further threaten the peace, security and harmonious coexistence of Nigeria.

organizations, diplomatic staff, and foreign domestic employees -- working for the missions and residences would be suspended with effect from Wednesday, 5 March, until further

28%

notice. “As part of the suspension, the Israel Missions will not be able to deal with matters pertaining to official visits to Israel and no visas to Israel will be is-

The percentage of the children in developing countries that are underweight or stunted. Source: Globalissues.org

sued. “In keeping with directive of the Foreign Workers Association, the Ambassador of Israel to Nigeria, Mr. Uriel Palti and other diplomatic staff dress casually

3bn

The total number of people living on less than $2.50 daily. Source: Globalissues.org

to work and would not attend any official functions. “The Embassy wishes to apologize for any inconvenience this might cause the members of the public.”

72m

The total number of children of primary school age in the developing countries that were not in school in 2005. Source: Globalissues.org

L-R: President of the West African College of Pharmacist, Ghana, Wiltshire Johnson; Niger State Governor, Dr. Mu’azu Babangida Aliyu and President, Pharmaceutical Society of Ghana, James Ohemeng Kyei, during the investiture of the governor as a fellow of the college, held at the National Theatre, Accra, Ghana.

2015: Elders, stakeholders will decide my successor –Akpabio

lders and stakeholders in the 10 Federal Constituencies of Akwa Ibom are to hold a round-table discussion in the sharing of the various key political offices among the three Senatorial Districts in 2015 to ensure justice, harmony and equity among the people in the state. Governor Godswill Akpabio, who dropped the hint Monday at Etinan town hall during a town meeting and constituency briefing in Etinan Federal Constituency, was responding to Senator Effiong Bob’s question on the actual political position zoned to Uyo Senatorial District in 2015 political dispensation given the fact that Governorship position is zoned to Eket Senatorial District. Akpabio said the shar-

ing of the positions would be done at the end of the 10 Federal Constituencies tour, remarking “Just as my administration has carried all the constituencies along, likewise all constituencies would be carried along by the next administration through the sharing of political positions at the state and national levels”. “There must be a buyin time for the PDP Governorship candidate to abide with the agreement reached by the stakeholders. I am from Ikot Ekpene Senatorial District and will be interested in the position zoned to us. By then, I won’t be Governor again, but will represent them in another capacity”, the Governor stated. “Uyo and Ikot Ekpene Federal Constituencies”, according to him, “have

tasted the governorship seat, it is only Eket Federal Constituency that is left to test that seat. So, after the consultation of the 10 Federal Constituencies in the state, the party would then decide on who occupies the governorship seat come 2015”. “Nobody can buy the governorship seat come 2015 elections, the 2015 elections would be an open contest where nobody shall be anointed and where nobody shall buy the governorship seat, for it is the choice of the people to choose their next Governor”, he noted. Akpabio called on politicians in the state to come out in en masse to contest the 2015 general elections, and enjoined in-coming political office holders not to site projects at places where the people don’t

have access to due to their selfish interest but rather to emulate his administration by siting projects in every part of the state for the benefit of the people. On the purpose of the town meeting in Etinan Federal Constituency, the Governor remarked, “This meeting is to make sure that government touches all strata of the state. We are committed to the welfare of the people to discuss the needs and challenges of the constituencies, to continue the process in showing that our labours are not in vain and to make a decision on the way forward so that we don’t lose the future, sense of brotherhood, integrity, dignity of our people and the entire country but to ensure harmony and peace in the state”.

NEWS

Sanctity of Truth

Wednesday, March 12, 2014

Anti-Amaechi protesters cause traffic jam in Port Harcourt Charles Onyekwere Port Harcourt

housands of demonstrators took to the streets of Port Harcourt, the River State capital, yesterday demanding, among others, the resignation of Governor Chubike Amaechi. The protesters carried placards with inscriptions like “Amaechi is a Failure,” “Amaechi, be bold to resign,” “Amaechi Abuses Court Order,” “No CJ, No Good Governance,”

“Amaechi, Stop Insulting Traditional Rulers,” “Amaechi, where are the laboratories for the 24 secondary schools?” “Government House Assembly is illegal.” “Amaechi 2014 Budget Is Fake.” The demonstrators caused a heavy traffic jam at the UTC Junction and adjoining roads for over six hours, forcing motorists and other roads users to seek alternative routes. Leader of the protesters, Onari Awo

Tariah, explained that the choice of UTC Junction was deliberate and strategic because it was the terminal point of the administration’s multibillion monorail project, which he described as a wasteful venture with no benefit for residents of the state. Tariah, who apologised to motorists and residents of the city for the inconveniences they suffered as a result of the protest, described the suffering as inevitable for a better

future. He explained that the protesters would have stormed the Government House, but chose the junction to draw the attention of the world to the waste called monorail project. Amaechi, Tariah demanded, should resign from office because of the failure of the monorail project or the protesters would occupy the Government House to force the governor to leave. The protesters said they were not giving

Managing Director/Editor-in-Chief of New Telegraph, Bolaji Tunji (left) and Chairman, Nigeria Union of Journalists (NUJ), Lagos State, Deji Elumoye, when Tunji visited the NUJ office in Ikeja, Lagos...yesterday

30,221,532

The total size of Africa 9in sq. km), the second largest continent. Source: Blatantworld.com

29.5%

The percentage of Asia’s global landmass. Source: Blatantworld.com

117,702

The total size (in sq. km) of Michigan Huron, (the world’s second largest lake). Source: Blatantworld.com

Amaechi an ultimatum, but as a wise man he should resign. “If you cannot perform, you resign. Let him resign. It is better for him.” He added that the pro-

test was against bad governance and a demand for the resignation of the governor and the Speaker of the Rivers State House of Assembly, Otelemaba Amachree.

Multinational troops capture wounded Boko Haram terrorists – DHQ Emmanuel Onani

he Defence Headquarters (DHQ) yesterday said that suspected Boko Haram members, who escaped with varying degrees of injuries from the recent bombardments of some of their camps by security operatives, have been “captured”. The disclosure was contained in a statement signed by the Director of Defence Information (DDI), Maj.Gen. Chris Olukolade. Specifically, the DDI stated that the wounded fighters, who were taken in by the Multi-National Joint Task Force, were making useful confessions. According to the statement, the captured insurgents, who were said to have apologised for their acts, revealed that camps were being “dismantled”, on “the directive of their

clerics who declared that the operation of the sect had come to an end as the mission could no longer be sustained.” The statement reads in full: “Scores of wounded terrorists who escaped from various camps under the fire of security forces have been captured in the fringes of Lake Chad. “The captured terrorists some of whom are fatally wounded are already making useful statements to interrogators of the Multi-National Joint Task Force. Others were captured by troops in locations around Dikwa, Cross Kauwa, Kukawa and Alargarmo. “In their confessions, it was revealed that some of the camps have been disbanded following the directive of their clerics who declared that the operation of the sect had come to an end.”

Shell shortlists Seplat, Glencore for N480bn oil blocs’ sale CONTINUED FROM PAGE 1

But checks by New Telegraph showed that companies like Glencore and Seplat have been shortlisted for the bid. The confidential list, a source close to the bid said, was released for the top management of the multi-national. Already, Seplat yesterday announced plans to raise at least $500 million by selling shares on the London and Lagos stock exchange for the assets. The fund to be raised through the Initial Pubic Offers (IPO) is also to pay down debt and snap up assets being sold by energy majors in Africa’s largest oil producing nation, the company said. Seplat, in which France’s Maurel & Prom

and Swiss-based trader Mercuria both hold minority stakes, is among consortia shortlisted to bid for some $3 billion in assets being sold by Shell and others, sources said. Competition is stiff for the blocs in the Niger Delta, which holds a large portion of Nigeria’s 37 billion barrels of reserves. The oil is high-quality, relatively easy to drill and Nigerian firms say they can better handle security challenges that have prompted the majors to divest. Commodity trader Glencore, involved in marketing Nigeria’s crude oil and importing its fuel for decades, is among the companies vying to enter its upstream sector. The cash Seplat will

raise puts it in a strong position as it prepares for acquisitions in shallow-water areas, one sector banker said, because foreign companies must partner up with Nigerians to bid. “The global offer proceeds will allow us to further implement our business strategy, which includes acquiring new assets,” Seplat’s chairman and co-founder, A.B.C Orjiako, said yesterday. Shell is selling its 30 per cent stake in four oil blocks, with France’s Total and Italy’s Eni also set to profit from sales of their 10 per cent and five per cent stakes. The Nigerian National Petroleum Corporation (NNPC) owns the remaining 55 per cent. Shell is also selling the

97-km (60-mile) Nembe Creek oil pipeline, which has been regularly attacked by oil thieves. The London-listed major has already made $1.8 billion from asset sales in Nigeria since 2010 as several oil majors divested onshore blocs due to oil theft and a government drive to increase local ownership. Founded in 2009 by wealthy Nigerian businessmen Orjiako and Austin Avuru, Seplat pumps about 60,000 barrels per day of oil from three blocs it operates in the Niger Delta. It bought a 45 per cent stake in the blocs from Shell, Total and Eni in 2010. NNPC owns the rest. Seplat is also near completing a deal to buy a Niger Delta oil bloc from

Chevron, but a legal dispute between the U.S. oil major and another Nigerian firm threatens to delay the agreement, sources close to the process say. Cash from the listing could go partly towards the Chevron deal, the sources said. A source close to Maurel & Prom said Seplat also planned to use the cash to fund a bid for Shell’s OML 29 oil bloc. OML 29 is the most coveted asset of the four being sold. Its output has peaked at 62,000 bpd of oil and 40 scf/d of gas and holds reserves of 2.2 billion barrels of oil equivalent (boe), according to a Shell prospectus. It is likely to fetch $1-$1.5 billion, industry sources say. One of Seplat’s direc-

tors, Basil Omiyi, was previously Shell’s Nigeria country head, but the firm is likely to face competition from cash-rich Glencore. Glencore has linked up with Nigerian traders, Taleveras and Aiteo, for its bid on OML 29, say two oil industry sources. These two firms are involved in Nigeria’s crudefor-product swap deals. A source close to Maurel said Seplat’s intention was to float in June and its equity value was about $1 billion, suggesting about half the company would be sold in the IPO. BNP Paribas and Standard Bank are joint global co-ordinators, while Renaissance Capital, Citigroup and RBC Europe are joint bookrunners on the flotation.

NEWS

DIVERSION

Minister spits fire... culprits to face full weight of the law

Philip Nyam Abuja

inister of Petroleum Resources, Mrs. Diezani Alison-Madueke yesterday said the government has commenced inquiry into the on-going fuel scarcity in the country, insisting that those responsible would not be spared. She disclosed this after an interaction with the House of Representatives Committee on Petroleum Resources (upstream) in Abuja, assuring that the product would be made available in a couple of hours. The minister explained that the current scarcity was as a result of hoarding and diversion. “It was quite obvious that it could be caused by a number of things that we are looking into. There is some supply hitch which we are looking into; there is also diversion which was quite clear. There was an element of hoarding as well.

Sanctity of Truth

Wednesday, March 12, 2014

FG to punish marketers diverting fuel, says Alison-Madueke …Says no plan to hike fuel price

“While we are trying to get to the bottom of who diverted what, at the same time in terms of supply, we are trying to ensure that over the next week, we flood the country with petroleum products” she disclosed. Reacting to reports that the scarcity was a ploy to increase the price of petroleum products, the minister said: “There was also some strange rumour that the Ministry of Petroleum Resources was going to announce an increase in the pump price of petrol which also helped to instigate some of the hoarding. And I have said categorically that we have no plans to increase the pump price of petrol anytime in the near future. “The issue of supplies, more and more PMS is being brought in and over the next week or two we would flood the country with the product. In terms of the

Deputy Speaker, House of Representatives, Chief Emeka Ihedioha (middle), presenting a set of laptop to one of the beneficiaries, Mrs Ogochukwu Eze, during an empowerment programme at Atani in Anambra State…yesterday. With them is the sponsor, Afam Ogene

diversions, we would try and ensure that stations found to have actually diverted or hoarded the product, would face punitive measures no matter how highly placed their owners. We will not care

if they are NNPC stations or any other stations, independent or otherwise. We will take them up to face the full weight of the law.” The minister explained further that: “I

Reps summon Okonjo-Iweala, Aganga over rice importation T

Joe Ezuma

Port Harcourt

Philip Nyam Abuja

he House of Representatives Committee on Customs yesterday invited the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi OkonjoIweala and her Trade and Investment counterpart, Dr. Olusegun Aganga with regards to the Federal Government’s rice importation policy. Chairman of the committee, Hon. Sabo Mohammed Nakudu (PDP, Jigawa) who disclosed this, said the Minister of Agriculture; Dr. Akinwumi Adesina was also invited alongside the duo. He said the three min-

Okonjo-Iweala

isters should appear before a public hearing to be organized by the committee on the matter. Nakudu disclosed that the committee’s plan to hold a public hearing was based on the House resolution on the matter, following the adoption of a motion moved by Hon. Nasiru Baballe Ila (APC, Kano) on February 19, 2014. He said the hearing

would be to ascertain the level of the rice importation policy, “which has caused ripples in the country and indeed caused a high loss to the government revenue.” He said already, the committee had written letters to the three ministers and other stakeholders, calling for position papers and notifying them of the development. The policy which was introduced last year by the Federal Government banned any form of rice importation into the country. Following introduction of the policy, rice smugglers allegedly swung into action, causing Nigeria to lose over N300 billion late last year.

he Nigeria Police in Rivers State yesterday, paraded arrested kidnap suspects and armed robbers less than one week after the State Commissioner of Police, Mr. Tunde Ogunsakin declared war on criminals in the state . Ogunsakin had promised on resumption of office, that he was embarking on unrelenting drive to ensure that peace and tranquility permeates all parts of the state. This move , accordinbg to investigation, has started yielding fruits with the freeing of three Peoples Democratic Party (PDP) members from their captors on Thursday ,March 6, 2014 and the arrest of kidnappers and members of some hardened armed robbery gangs. Parading the suspects,

won’t call it looming anymore, because quite early it has been taken under control in areas like Lagos. But, as I said, when I went round stations in Lagos, I personally talked to petrol sta-

tion owners and also to consumers who were in the stations so that they will tell me exactly what they went through and where they found those pockets of scarcity and how bad it was”.

Rivers Police parade kidnap, robbery suspects Ogunsakin told journalists at the State Police Command, that his men had within the past three weeks, smashed four armed robbery gangs and three kidnapping syndicates. ‘’On Thursday, February 20, at about 8.30pm, police formations in the state, received a distress call from the Rivers State Command Control Room that one Mrs. Ibiso Orinari Atiegoba had been kidnapped by a group of four armed men along Ada George Road, Port Harcourt. “The distress alert prompted the Command’s Anti-Kidnapping Unit to “immediately commence intensive search and the combing of the nearby bush and all suspected flash points. Following the search which made them

apprehensive of being arrested, they dropped her in the bush and drove away her jeep. “In the course of their desperate bid to escape, two of the kidnappers, whose names were given as Thompson Order and Daniel Ikimi, were intercepted and arrested. Both men during interrogation confessed to being involved in the kidnap of Mrs. Atiegoba’’, he said. He said that men of the command also rescued one year and three months old Fabulous Orinye, who was kidnapped from his mother, Evelyn Orinye at Edegelem Road, Igbo-Etche. One Chibuike Njoku who was connected with the crime was arrested with a locally made pistol. Njoku, according to the police, shot at one Mike Nwigwe of the same village.

NEWS

Wednesday, March 12, 2014

FG in surreptitious moves to hike fuel prices – APC

he PDP-led Federal Government is acting out a clandestine script to increase fuel prices through the back door, the All Progressives Congress (APC) has alleged. In a statement issued in Lagos on Tuesday by its Interim National Publicity Secretary, Alhaji Lai Mohammed, the party said the ongoing nation-wide fuel scarcity may have been induced to make higher fuel prices a fait accompli for Nigerians. According to the APC, the fact that the scarcity has persisted despite the claims and counter-claims by the government and the oil markers, and the measures purportedly taken by the government to ameliorate the situation, is the clearest indication of official deception. ''The more fuel trucks the government claims to have sent to major cities to ease the scarcity, the more difficult it is for Nigerians to obtain the product. This is an old trick and Nigerians should not be hoodwinked into believing there will be no increase in fuel prices. The only deterrent is to let the government know Nigerians will resist any price hike."

2015: US wants polls to hold in North East VIOLENCE

Violence in the NorthEast should not preclude the region from 2015 elections

Adesina Wahab ADO-EKITI

he United States on Tuesday said Nigeria must ensure that next year's general elections also hold in the North-East part of the country for the credibility of the exercise not to be tainted. Stating this in AdoEkiti at a press briefing, the United States Consular General in Nigeria, Mr. Jeff Hawkins, said while his country was concerned about happenings in the region, it would want a situation where every Nigerian would exercise their rights to elect their leaders in free and fair polls. He was reacting to a question on the alarm raised by the National Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, that due to the violence in the region, it could be difficult to conduct elections in the area. The region has been a hotbed of religious extremism, leading to violence in the last few years. "Violence-free elections

EFCC arraigns Fred Ajudua for alleged N1bn fraud Joseph Jibueze

he Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a lawyer and socialite, Mr. Fred Ajudua, for allegedly defrauding a former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi (rtd.) of $5.9 million (about N1 billion). This was coming a week after Justice Oluwatoyin Ipaye of the Lagos State High Court, before whom Ajudua was arraigned, dismissed the defendant's application to quash the charges. EFCC alleged that Ajud-

ua conspired with others, now at large, to perpetrate the fraud between November 2004 and June 2005. Those said to be on the run are Alumile Adedeji (a.k.a Ade Bendel), one Mr. Kenneth and Princess Hamabon William. They allegedly defrauded Bamaiyi of the money at the Kirikiri Maximum Prisons, where they were all remanded for different alleged crimes. The anti-graft agency also alleged that Ajudua and others claimed that $1million was to be used to assist Justice Olubunmi Oyewole in treating his father.

are necessary for democracy to continue to thrive in Nigeria. It is very important that elections are held in the North-East region or the credibility of the elections will be impaired. "The United States is concerned about happenings there and that is why we have labelled Boko Haram a terrorist group and even placed a prize on the leaders of the group," he said. While listing the requirements for credible polls, Hawkins said apart from violence-free polls,

the US would also be interested in the technical conduct of elections and responsible behaviour by politicians. "In this respect, the United States is committing $15 million to support elections in Nigeria this year. We are working closely with INEC as it is an essential part of the whole process," he added. On the challenges of conducting elections in Nigeria, the ConsularGeneral agreed that they were enormous. "Conducting elections in Nigeria is pretty diffi-

The total number of major conflicts that took place around the world in 2009. Source: Blatantworld.com

cult. The country is very big with a huge population. This will challenge the most sophisticated system. "If the leadership of INEC is serious with what they are doing, we will assist them. We believe they can do it," he said. On the forthcoming governorship elections in Ekiti and Osun States, Hawkins said his country rated them as a test case for the 2015 general elections. He noted that his trip to both states would afford him the opportunity

5.7m

The total number of people living with HIV virus in South Africa (the world’s highest). Source: Blatantworld.com

to meet electoral officers, security agencies, government officials and other stakeholders concerned with the elections. He charged journalists to play their role of being the society's watchdogs effectively, as that would go a long way in safeguarding democracy in the country. Earlier, the Public Affairs Section of the US Consulate General in Lagos had organised a day seminar on "New Social Media as Tools for Effective Coverage and Monitoring of Elections" for journalists in the state.

104

The number of Operational Nuclear Power Reactors of the US (the world’s highest). Source: Blatantworld.com

Chairman, Independent Corrupt Practices Commission (ICPC), Mr. Ekpo Nta (left) and Osun State governor, Rauf Aregbesola, during the ICPC Good Governance Forum in Abuja …yesterday.

COMPETENCE Controversy over competency test dragged too far in Edo

Cajetan Mmuta BENIN

he leadership and members of the Nigeria Union of Teachers (NUT) have dragged the Edo State government to the National Industrial Court sitting in Akure, the Ondo State capital. Members of the NUT are seeking an order of the court for a perpetual injunction restraining it and its agents from the

Competency test: NUT drags Oshiomhole, others to court proposed conduct of an assessment test for primary and secondary school teachers in the state. With the latest twist, attempts by concerned stakeholders in the education sector in Edo State to bring both sides in the impasse to a round table towards resolving the conflict between Governor Adams Oshiomhole and the school teachers, have failed. Teachers in the state had last month boycotted the town hall meeting

called by Governor Oshiomhole to seek ways of repositioning education in the state and ensure improved welfare of teachers as well as a secured future for school children. But in the suit filed yesterday by the national body of the NUT with number: NICN/ AK/10/2014, the body seeks to restrain the defendants from conducting the purported post-employment competency test on the school teachers. It said the competency

test is contrary to sections 1, 6, 7 and 8 of the Teachers Registration Council of Nigeria Act Cap T3, Laws of the Federation of Nigeria 2004. The teachers’ parent body also sought the order of the industrial court to stop the state government from terminating the employment of members of the union “on the basis of a post-employment competency test conducted by the state government and not by the TRCN.”

ACROSS THE NATION

Sanctity of Truth

Wednesday, March 12, 2014

UYO

Yola

Lagos

Akwa Ibom

Adamawa

Ikeja

Uniuyo 44: Students seek free legal services The 44 students of the University of Uyo, who are standing trial at the Akwa Ibom State High Court, Uyo on charges of murder, arson, rioting and assault in connection with the students’ demonstration of June 12, 2013, have appealed to public interest lawyers to come to their aid by offering them free legal services.

The students, who are to appear in court today, said their most urgent need is how they will apply for the extension of their bail. It was gathered that at the last adjourned date, the trial judge, Hon. Justice Joy Unwana, had directed all the accused persons to apply for the extension of their bail or risk having same revoked on the next adjourned date which is today.

Adamawa govt presents 2014 budget breakdown Adamawa State Commissioner of Finance, Alhaji Ibrahim Vokna, on Tuesday presented the breakdown of the 2014 budget, saying that the policy direction of the budget is geared towards consolidating good governance as contained in Vision 20:2020 and the Millennium Development Goals (MDGs). The state governor has earlier presented an estimate of N97.9 billion for

the 2014 fiscal year on December 6, 2013, which was approved and signed into law by the state House of Assembly on February 19, 2014. The budget consists of N57.8 billion as recurrent expenditure and N40.1 billion earmarked as capital expenditure with the Ministry of Works carrying the largest share of N13.7 billion, which constituted 14.02 per cent of the budget estimates while the Ministry of Education got 11.43 per cent.

Lagos to shut Dopemu, Iyana-Ipaja Bridges for 20 days The Lagos State government on Tuesday said it would shut both the Dopemu and Iyana Ipaja Bridges for twenty days beginning from Saturday, March 15, 2014. The state government also said the disclosure was necessary to allow the contractor, China Civil Engineering Construction Company commence the rehabilitation of the bridges, urging motorists

$1,531bn The total budget allocated to military formations globally in a yearly basis. Source: Blatantworld.com

706m The total population in South Asia with electricity. Source: Globalissues.org

818 L-R: Sales Manager, Card and E-Banking, Ecobank Nigeria, Mrs. Vivian Ogbonna-Nwoha; Deputy Manager, National Lottery Regulatory Commission, Mr. Daniel Onyemenam; Regional Head, Mainland Region, Ecobank Nigeria, Mrs. Olanike Kolawole; Senior Public Relations Officer, Consumer Protection Council, Lagos Office, Mr. Nicholas Utsalo and Head, Card Business, Ecobank Nigeria, Mr. Oyegoke Akande Oyebode, during the first draw of Ecobank Nigeria Card 4 Prizes Promo held in Lagos…yesterday

Ekiti

Kwara Ilorin

Ado-Ekiti

Ekiti PDP governorship primary may not hold Saturday Indications emerged on Tuesday that the much-expected governorship primary of the Ekiti State chapter of the Peoples Democratic Party (PDP) may not hold on Saturday as expected. Findings by our correspondent in Ado-Ekiti

revealed that the exercise has been shifted because of the need to mobilise party members for the continuous voters’ registration exercise starting from today. The exercise is slated to end on Monday March 17, this year. Sources in the PDP said the party would be disadvantaged if it continues with the primaries.

Emir sets up body on founder of Ilorin Emirate The Emir of Ilorin, Alhaji Ibrahim Gambari, has inaugurated an Islamic foundation, the Sheu Alimi Islamic Foundation (SAIF), to honour memories of Alimi, the historical progenitor of the Ilorin people. National President of

the foundation, Sheikh AbdulKadir Oba-Solagberu, told Governor AbdulFattah Ahmed of Kwara State during a courtesy visit that the establishment of the foundation was coming several years after other Islamic communities in the northern part of the country had taken similar steps to honour their leaders.

lagos

FCT

ikeja

Abuja

ODU'ACCIMA set to rescue South West from economic doldrums The Odua Chamber of Commerce, Industry, Mines and Agriculture, an umbrella body of South-West Councils of Chambers of Commerce, Industry, Mines and Agriculture, Tuesday said in Lagos that it is set to rescue the South West region from economic doldrums. The chamber of com-

merce said it would explore every alternative means to revive the economic potentials of the South West region, adding that apart from its plan to resuscitate agriculture, which used to be the mainstay of the region’s economy, it would also explore the prospects of solar, biomass, biodiesel and ethanol fuel as alternative sources of energy in the region.

Corruption,Nigeria’s albatross,says Aregbesola Osun State Governor, Rauf Aregbesola, on Tuesday, described corruption as a "national albatross" that which must be tackled headlong, if the common man must enjoy the dividends of democracy. Aregbesola made the observation in Abuja, at the 2014 Quarterly Good Governance Forum Lec-

ture of the Independent Corrupt Practices and Other Related Offences Commission (ICPC). In a lecture entitled; "Governance, Accountability And Transformation", the Osun state governor said the hydra-headed monster, is a "national albatross that has made government irrelevant to the existence of the people and therefore defeated the purpose of governance in the country."

The height of Burj Khalifa, Dubai, UAE (the world’s tallest building) in metres. Source: Globalissues.org

FCT Abuja

CAC dumps manual search of documents To reduce the manhour lost to manual search of companies’ names, directors and other ancillary services, the Corporate Affairs Commission (CAC) is set to introduce scanning post incorporation files into its database. Registrar- General of CAC, Bello Mahmud, who dropped the hint in Abuja, explained that on completion, searches would be done electronically for ease of service. Mahmud, who spoke during CAC customers forum, said the commission was in the process of reviewing its Information Communication Technology (ICT) infrastructure in order to make it more robust and further enhance its capacity.

to ply other routes during the period. The contractor is expected to spend 10 days each on the repair of the two bridges. In a statement, signed by the Assistant Director, Press and Public Relations of the state Ministry of Transportation, Mr. Sina Thorpe, the contractor would commence work on the Dopemu Bridge in the first 10 days, from Saturday, March 15 to Monday March 24, 2014 after which the construction firm is expected to move to the Iyana Ipaja Bridge from Tuesday, March 25 to Saturday, April 5, 2014.

Ondo Akure Ondo bye-election: 'I’m the candidate to beat' The Labour Party (LP) candidate for the vacant seat of Ilaje/EseOdo federal constituency of Ondo State, Prince Kolade Akinjo, on Tuesday challenged the candidates of other political parties to a public debate over the development and the manifestoes of the riverine community. Akinjo who echoed the Chairman of the party, Chief Dele Akinyele that the Labour Party had everything that is required to win the election in the area, said he was confident that the people would vote for him to win the election slated for April 5, 2014.

Oyo Ibadan

'Govt insensitivity, others, cause of insecurity' Academics on Tuesday identified low response to warning signals, lack of sufficient welfare package for security agents, as well as loss of value system as major causes of violence and security challenges in Nigeria. The academics and participants from 39 government agencies converged on the Nigerian Institute of Social and Economic Research (NISER), Ibadan, Oyo state capital, to brainstorm on the topic: "Security Challenges in Nigeria:

NEWS

Wednesday, March 12, 2014

Ex-military officers protest non-payment of salary Babatope Okeowo AKURE

x-military personnel working as security men in defunct Power Holding Company of Nigeria (PHCN), in Ondo, Ondo West Local Government Area of Ondo State, yesterday protested the non-payment of their five months salary arrears by the company's new management. The protesting security men paralyzed activities at the Ondo Business District (OBD) office of the defunct Power Holding Company of Nigeria (PHCN), now Benin Electricity Distribution Company (BEDC) following a protest action embarked upon by the contract staff working in the security department of the organization. When newsmen visited the OBD office, the

The number of primary tectonic plates in the world. Source: Mirror.co.uk

organization located at Brigadier Ademulegun Road, in Ondo West Local Government Area of the state, the gate to the office was shut by the protesting workers who gathered in groups, discussing the development in harsh tone. Giving reasons for their action, the leader of the workers, Oluwole Olowu, who claimed to be the Chief Security Officer (CSO), said they were demanding for the payment of their five months salary. The workers, numbering about forty dressed in the uniform of Nigerian Legion, carried placards with different inscriptions including "BEDC pay us our salary," "Our children are hungry" "we want to pay our children’s school fees" "we want to pay our house rents" .

280m

The number of internet users in China (the world’s highest). Source: Blatantworld.com

Bauchi Govt grills workers, withholds their Feb salary Sani Muh'd Sani BAUCHI

auchi State civil servants were yesterday thrown into untold hardship because of the non payment of their Febuary salary. The government according to a press release signed by the state chairman of the Nigeria Labour Congress (NLC), Comrade Hashimu Muhammad Gital had earlier made a move to deduct 10% from the salary of each of the state government workers, which the workers vehemently objected. The NLC Chairman who lamented the delay in the payment of the salaries to workers in the state, regretted that the delay was due to the inability of the workers and the state government to resolve the planned deduction. A statement also by

the state chairman of the Trade Union Congress (TUC), appealed to the workers in Bauchi State ''to remain calm as the Organised Labour was doing everything possible to resolve the issue to protect the interest of the workers.'' The statement further explained that the Organised Labour in the state had a meeting yesterday and reviewed the situation at hand as it related to the delay of the payments and both the TUC and the NLC were adamant that the 10% sacrifice of their salary to the State Government would not be possible. The Organised Labour is sending a warning signal to the state government to pay the workers' salaries without delay in the interest of continued industrial harmony in the state, the statement said.

L-R: Manager, Trade Sales, British Airways, Mr. Ademola Sanya; General Manager, West Africa, Mr. Kola Olayinka and Legal Adviser, Nigeria College of Aviation Technology (NCAT), Zaria, Afolake St. Matthew Daniel, during a press conference to announce the launch of the British Airways Leaders of Tomorrow, held in Lagos…yesterday

Student hacker in court over N1.3m internet banking fraud DOCKED

Facing conspiracy and stealing charge

student, Ekumah Emeka, yesterday, appeared before an Ogudu Magistrates' Court in Lagos, over an alleged internet fraud of N1, 340, 000. Emeka, 24, a 200-level student of Architecture

at the Nnamdi Azikwe University, Awka, Anambra State, is facing a twocount charge of conspiracy and stealing. The prosecutor, Corporal. Adekemi Adeniran, told the court that the accused committed the crime sometime in January in two banks in Lagos. She explained that the accused person hacked into the account of one

Mr. Marcus Adeoye and transferred N1, 340, 000 for his personal use. ``However, the accused was caught at one of the branches of the banks in Ogudu, Lagos, when he wanted to withdraw some money," she said. Adeniran said that the offences contravened Sections 409 and 285 of the Criminal Law of Lagos State, 2011. The accused denied

the charge. The News Agency of Nigeria (NAN) reported that Section 285 recommended three years imprisonment for convicted offenders. The Chief Magistrate, Mrs Omolade Awope, granted the accused bail in the sum of N500, 000 with two sureties in like sum and adjourned the matter till May 5, for hearing. (NAN).

2nd Niger Bridge: Berger’s site landlord makes case for host communty youths APPEAL

Landlord says the youths are responsible people Uwakwe Abugu AWKA

he donor of the parcel of land being used by Julius Berger as its camp site for the construction of the second Niger Bridge flagged off by President Goodluck Jonathan on Monday, Chief Gilbert Obi, has appealed to the company to employ qualified youths of the area as the work comes under way. Chief Obi, a busi-

ness mogul, made the request shortly after the groundbreaking ceremony, contending that in the spirit of nurturing good relations between the company and the host community, the firm handling the second Niger Bridge project should consider the unemployed youths of the neigbouring communities while recruiting skilled labourers and other professionals for the project. The industrialist and managing director of Bravo West Africa Limited, told journalists that the parcel of land used as camp site by the construction firm was

donated by him. He appealed to the company to consider the plight of unemployed youths of the area roaming the streets while engaging skilled and unskilled labourers as well as other levels of professionals. According to him, if such a gesture is extended to the people of the area, it would improve relations between the company and the people, and then, prevent any form of estranged relations while the project progresses. “Many of the youths I am talking about are responsible and skilled in one trade or the other, but they are unemployed

at the moment, a situation that has continued to lure the younger generation into crime and other anti-social activities. “I plead with Julius Berger and other relevant organizations who may be contracted to work with the construction firm to consider this calibres of people for possible engagement to put them off the streets”, he stated. In line with this request, he also charged the firm to the issue of local content, saying if done accordingly, the measure would help in decongesting youths from the labour market.

10 NEWS

Sanctity of Truth

Wednesday, March 12, 2014

Group blasts Okorocha over 2nd Niger bridge Steve Uzoechi Owerri

concerned group under the aegis of South-East Progressive Assembly (SEPA) has chided Governor Rochas Okorocha of Imo State over his absence at the groundbreaking ceremony of

Missing in action Governor Okorocha under severe attacks over his absence at ground breaking ceremony of 2nd Niger bridge the second Niger Bridge. President Goodluck

Jonathan had recently performed the groundbreaking ceremony, which attracted governors as well as other dignitaries from the Southeast, except Okorocha. National Coordinator of the group, Mr. Ebere Uzoukwa while addressing newsmen yesterday in Owerri, the

state capital, described Okorocha’s absence at the ceremony as most unfortunate. “This singular act has shown that Okorocha’s allusions to the 2nd Niger Bridge were mere political gimmicks. Okorocha has politicized development in the Southeast. The

governor is driven more by ambition than public good’, he stated. Uzoukwa lamented that while other governors of the region as well as their representatives attended the ceremony in support of the project; Okorocha was busy receiving the so-called Miss Black Africa, Sonia Ike. “This is not what is expected of someone, who has been parroting his ambition to lead the Igbo race. Igbo should begin to reassess our leaders and Southeast should ensure that errors of the past are

corrected. The 2nd Niger bridge, which is a gateway to Igbo land is a landmark project to Ndigbo and should totally be detached from politics’, Uzoukwa noted. SEPA however urged the state governor to draw a line between development and partisan politics. When contacted, the Senior Special Assistant to the Governor on Media, Mr. Sam Onwuemodo could not respond to questions, but promised to call back and at the time of filing this report, he did not call back.

Ebonyi proposes N15bn bond Ewa Nnanna Abakaliki Custom’s Area Comptroller Oyo/Osun Area Command, Mr. Richard Oteri (middle), displaying seized 30,000 from one Abdulrahman Adegoke ammunitions, to the media in Oyo State….yesterday

UN Human Rights boss visits Nigeria

nited Nations (UN) High Commissioner for Human Rights, Ms Navi Pillay has begun a 4-day official visit to Nigeria. The UN Development Programme Communications Specialist, Mr. Kelechi Onyemaobi, said the visit of the High Commissioner was on the invitation of the federal government. According to Onyemaobi, the envoy would enlighten the government as well as the civil society on the promotion and protection of human rights at the highest levels. `It is the first of such visit to Nigeria by any UN High Commissioner for Human Rights since the office was created 20 years ago. During her visit, Pillay would meet with President Goodluck Jonathan as well as the Ministers of Foreign Affairs, Interior, Justice as well as Women Affairs

and Social Development’, he stated. She would also meet senior government officials, the National Assembly and the Judiciary. The statement added that the Diplomat would hold meetings with the National Human Rights Commission, civil society organizations, members of the international community and UN agencies. ‘It is to reaffirm the support of the UN Human Rights Office for the efforts of government and other stakeholders to improve human rights in the country. It is also intended to broaden the profile and understanding of human rights in general throughout the country," the statement added. At the end of her visit on Friday, the High Commissioner would hold a news conference at the Transcorp Hilton Hotel, Abuja.

Proffer solutions to insurgence in the North - Oba Akiolu urges political class Flora Onwudiwe

ba of Lagos, Oba Rilwanu Akiolu yesterday urged the political class in the country to proffer solutions to the growing insurgence in the country. Akiolu, who spoke to Defense Correspondents, after his visit to Chief of Naval Staff, Vice Admiral Usman Jibrin, also called on the federal government to implement the National Security Policy to nip in the bud, all security issues in the country.” He also called on the federal government to give more allocations to security agencies to enable them combat crimes in various zones in the country. “Let us be frank to ourselves, the traditional rulers in the north have tried, it is now left for the political leaders, not necessarily ruling political parties, to come

together and gather the local leaders to ensure that unnecessary killings are brought under control’, he stated while disclosing the need for a National Security Policy in the country. I have discussed with the President and top security chiefs in the country and I have no doubt in my mind, that it is a matter of time“, he added. Akiolu further noted that Islamic religion is a peaceful one and does not encourage any killing or forms of violence. He however advised delegates to the National Conference to approach the conference with the unity of the country in mind and sincerity of purpose. The royal father however condemned those calling for the trial of the former Chief of Army Staff, saying he did very well for the unity of Nigeria.

bonyi state government has proposed another bond of N15 billion from the capital market. This amount is in addition to N16.5 billion out of N20 billion approved and accessed by the state government in 2010. The N16.5 billion, according to Governor Elechi will be liquidated in 2015. Elechi said he approached the capital market in 2008, when the federation account for the state dropped significantly, saying the bond enabled him to embark on infrastructural developments, which is one of the cardinal objectives of his administration. The governor, who spoke at the Government House, Owerri, said the first bond was used for road constructions as well as unity bridges to open up access to other areas in the state. The governor said the second bond would also enable his administration to complete the ongoing projects, such as two mega water schemes, an internation-

al market and gas turban plant among others, assuring that the money, if released would be judiciously utilized. He explained that the state secretariat and Oferekpe water scheme are almost completed, adding that the facilities must be completed before he leaves office. Commissioner for Finance in the state, Barrister Timothy Odah in his remarks, noted that the state was lucky to get the first bond within ten months because of the transparency of Governor Elechi, stressing that other states that approached the capital market were not as lucky as Ebonyi state. He expressed optimism that the second tranche of the bond would be granted by the capital market. Mr. Effe Aighkigbe of the Fiscal Parties to the State 2014 Development Bond Issue said the first bond was judiciously utilized and such informed the reason why the state is going for the second bond. He therefore commended Elechi for his infrastructural developments in the state.

NEWS

Wednesday, March 12, 2014

Bayelsa Govt denies suit against EFCC LOOT

EFCC says it was a ploy to distract it from prosecuting some of the state officials on fraud

he Bayelsa State Government, yesterday, denied media reports that it had filed a suit against the Economic and Financial Crimes Commission (EFCC) over funds seized from its former Governor, Diepreye Alamieyeseigha.

A statement issued in Yenagoa by Mr Daniel Iworiso-Markson, the Chief Press Secretary to Gov. Seriake Dickson, denied the involvement of the state government in the said suit. It stated that “the attention of the Bayelsa State Government has been drawn to a publication in some sections of the media entitled `Bayelsa asks EFCC to remit N1.4 billion from Alamieyeseigha. "The said reports quoted one Mr George Uboh, Chief Executive of Panic

Alert Security System, reportedly acting on the mandate of the Bayelsa State Government, wrote to the Economic and Financial Crimes Commission (EFCC) to remit the twin sums of N1.4 billion and $1.3 million recovered from a former Governor of the state, Chief Diepreye Alamieyeseigha to the state. Iworiso-Markson explained that the State Government was categorically clear that it did not mandate any individual or firm to act on its behalf to request or institute any

suit against the EFCC. He called on the EFCC and the general public to disregard the publications. The News Agency of Nigeria (NAN) reported that the EFCC had in a statement on Monday said that it was yet to be served court summons for the suit, purported filed in a Federal High Court, Abuja, by the government. Mr Wilson Uwujaren, Head, Media and Publicity at EFCC, in the statement, accused the Bayelsa government of using the suit as a ploy to distract the commission from the on-

L-R: Director, United States Agency for International Development, USAID, Mr. Mike Harvey; Ekiti State Governor, Dr. Kayode Fayemi; and US Consul General, Nigeria, Jeffrey Hawkins; during the delegation's courtesy visit, in Ado Ekiti… on Monday.

POLITICS

As Obi is being tipped to take up the state's ministerial slot

Uwakwe Abugu AWKA

he political caucus of Ogbaru Community in Anambra State, the home council area of the recently sacked minister of Aviation, Mrs. Stella Odua, has called on the federal government to honour her as the best aviation minister the country has had in recent times. They made this demand over the week-end, a day after the finance minister, Dr. Ngozi Okonjo-Iweala, hinted in Awka, that the out-going governor of the state, Mr. Peter

Kinsmen want Odua crowned as best aviation minister Obi, would be engaged for further services by the federal government. The finance minister who is also the coordinating minister of the nation's economy, had during her speech at the valedictory session put together, last Saturday for Obi, pointedly told the governor that he was not going to rest, but would be engaged immediately he hands over. She also told his wife not to plan any elaborate holiday for her husband. Speaking at Atani, headquarters of the local government when National Assembly member, Hon. Victor Ogene, repre-

senting the Ogbaru federal constituency donated equipment and work tools worth over N30m to youth of the area, leader of the political caucus of the local government, Chief Dubem Obaze, contended that "Odua remains the best aviation minister the nation has had in recent times." Obaze who served as a commissioner under the present administration of Governor Obi said, "whether they like it or not, she was an outstanding and performing minister who should be honoured". He said that the government should also hon-

our her for her general outstanding performance in the aviation ministry that ushered in the muchtalked about transformation of the sector. Laying emphasis on that demand, he queried rhetorically :"who worked to rebuild and upgrade Enugu Airport to attain an international status but this our daughter?" Incidentally, Obaze, who expressed the bad feeling of his people over the fate visited on the sacked aviation minister is said to be a very close ally of Obi now said to have been tipped to replace her.

going N14.7 million fraud case against some officials of the government. EFCC had on February 28, 2014, arraigned

Messrs Apiri Richard Tonye and Paul Charles before Justice Kate Abiri of the Bayelsa State High Court, Yenegoa.

Kwara police grants permit to one party per day Biodun Oyeleye ILORIN

he Kwara state police command said, yesterday, that it would grant only one political party permission per day to hold rallies, campaigns and meetings anywhere in the state ahead of the forthcoming general election. The State Commissioner of Police, Mr. Ambrose Aisabo, who made the disclosure at a meeting with political stakeholders, also warned party leaders to abide by directives of the police, saying that he would not want a situation whereby his men would be made to use fire arms against party supporters. The police boss, who

explained that the police was adequately empowered to use fire arms reiterated his earlier warning that the police would deal ruthlessly with anyone who violated laid down rules in the state. He also clarified that there is a difference between rallies, like the ones being undertaken by the Peoples Democratic Party (PDP) and political campaigns. According to him, while campaigns were governed by relevant electoral laws, rallies could be used to welcome defectors into a party as was recently done by President Goodluck Jonathan in Ilorin, advising that parties should take a cue from how the President handled the event.

SEPLAT oil set for dual listing on NSE, LSE

EPLAT Petroleum Development Company PLC, an indigenous oil and gas company, yesterday, announced its intention to float its shares on both the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE). A statement from the company said that if successfully listed, SEPLAT would be the first Nigerian oil and gas company to have its ordinary shares dual listed on both the NSE and LSE. The statement quoted its Chairman, Dr Byrant Orjiako, as saying that ``SEPLAT will continue to succeed and flourish as a leading Nigerian oil and gas operating company, while fostering indigenous participation in the Nigerian oil and gas industry. “`The global offer's

proceeds will allow us to further implement our business strategy, which includes acquiring new assets. We are committed to maintaining our track record and achieving our growth aspirations through sound corporate governance and best practice,’’ he said. SEPLAT was founded in 2009 by Shebah Petroleum Development Company Ltd. and Platform Petroleum (Joint Ventures) Ltd. for the purpose of investing in Nigerian oil and gas opportunities.

CHANGE OF NAME

SHUA

I formerly known as Miss Damilola Qubrat Alabi now wish to be known and addressed as Mrs Damilola Odunayo Shua. All former documents remain valid. General public, please take note.

metr

NEW TELEGRAPH

Man held ABIODUN BELLO FEATURES Editor

abiodun. bello@newtelegraphonline.com

Wednesday,March 12, 2014

0802 393 8212

Commuters groan over rain, gridlock

Some stranded commuters

PHOTO: SULEIMAN HUSAINI

STRANDED Commuters waited endlessly at the bus stops after it rained yesterday

Taiwo Jimoh

any residents of Lagos and Ogun states got to their offices and business locations late yesterday because of the early morning rain which created gridlocks. Commuters were stranded at various bus stops within the Lagos metropolis. The rainfall, which began at about 2am, fell for over five hours in some areas, forcing many residents to remain indoors while many of those who summoned the courage to leave their houses either got stuck at the bus stops or had to trek to their destinations. Some of the residents, who bemoaned the situation, said it took them hours to even leave their homes for work. It was gathered that the storm, which accompanied the rain, blown off the roof of a mosque at 43 Community Street, Oworoshoki area of Lagos metropolis. Property worth millions of naira were destroyed in the mosque identified as Olohun rinu mi mosque. Areas mostly affected by the gridlock are Jimoh Yussuf, Emmanuel Aina, Ishola, Alabede, Akinola and Fatai streets. At Alabede area, many residents were forced to trek before they could get buses to their destinations. In Lagos, many students could not go

to school as result of the traffic gridlock caused by flash floods in parts of the metropolis. Some of the residents blamed the government for not doing enough to alleviate their plight. According a resident, Lateef kehinde, the major cause of the problem was as a result of blocked drainages. He said: “Though the government is really trying, we will still appeal to them not to relent. I would appeal to the

government to open up the block drainages across the state.” Another resident, Sherrif Seriki, said “when it rains in Lagos, it is always like this. You have to trek, while commercial bus drivers hike fares. Government should regulate these people. “What we want the government to do now is to bring additional Bus Rapid Transport (BRT) buses

to the city to end the suffering we are going through in the state.” It was also gathered that the residents of Surulere, Idiaraba, Fadeyi and Mushin areas were not left out as they were also confronted with traffic jam. Commuters were also stranded on the Apapa - Oshodi Expressway, particularly between Ijesha and Sanya, and parts of Satellite Town, forcing some to also trek. Some commercial drivers took advantage of the rain, coupled with the scarcity of fuel, to charge exorbitant fares, leaving many commuters stranded at major bus stops. There were queues at many BRT platforms. A civil servant, Tunji Oluwatosin, who spoke with our correspondent at Ojota, said he spent two hours from Ojota to Ikeja for a journey that could have lasted just 30 minutes. He said: “I was told to get some stationery for our office at Ikeja. Normally, the journey should not last more than 30 minutes, but I spent two hours. “My colleagues had to be calling me to know if all was alright. Eventually, I had to alight and board a tricycle.”

Eight-year-old ‘commits suicide’ in Nsukka CURIOUS An eight-year-old fatherless girl allegedly committed suicide but a witness suggested that circumstances of her death were suspicious

n eight-year-old girl was found dead on Monday in the bathroom of her family compound at Red House Bus Stop, Ofolonu Road, Nsukka, Enugu State, in a circumstance suspected to be suicide. A witness, who pleaded anonymity, told the News Agency of Nigeria (NAN) that the lifeless body of the girl was found about 3.20p.m. hanging from a wood in the bathroom. “I was surprised because I saw

Wednesday, M

www.newtelegraphonline.com/metro

the girl playing with other children when I was going out to buy something from the market. “I wonder what will make an eight-year-old to commit suicide. “Another thing that surprised me is that the two legs of the child were on the ground, which is not normal when one commits suicide; the legs should be dangling,’’ the witness said. She urged the police and other relevant security agencies to investigate the death of the child, adding that the rope on the child’s neck was “not strong enough to kill her, if really she committed suicide”. “I know the police investigation will unravel the real circumstance behind the suspected suicide,’’ she said. The victim’s guardian, Mr David Ajibo, said the child lived

with him, adding that she was the daughter of his brother inlaw. He said: “This girl has been staying with us since her father died. I am shocked as I do not know what to say; only God knows what happened. “She was hale and hearty when I left the house in the morning, and I wondered what would make a girl of eight to commit suicide.’’ Contacted, Mr Ebere Amarizu, the state Police Public Relation Officer (PPRO), confirmed that the girl allegedly hung herself in the bathroom, adding that the police had commenced investigation into the incident. He said: “The corpse of the deceased is now deposited at the Bishop Shanahan Hospital mortuary in Nsukka.’’

A DAY FOR THE OWNER Twice robbers have attacked the same church, but one of the suspects was arrested on the third attempt Elijah Samuel

he First Baptist Church, Ayobo-Ipaja in Lagos has been robbed thrice; twice the assailants were ‘lucky’ and made away with their booty. But the robbers were not lucky when they came the third time at the weekend. A man suspected to be one of the robbers identified as Adebowale Seun is in now in custody at the police headquarters, Ayobo, over the weekend attack on the church. Interestingly, the arrest was spearheadedbyoneSamuelEze, a trader in the neighbourhood. Ezesaidhecameoutof hisshop about 2am to take fresh air because of the heat inside. The Minister in Charge of the church, Reverend Sunday Adeoye, told NT Metro that about two years ago, robbers stole over N200,000 belonging to his family. He said: “About two years ago, we had an anniversary programme in the church, and on Wednesday of that week, armed robbers came and asked forthemoneymadeonprevious

Lawmake Muhammad Bashir

member of the Nationa sembly representing Ok Ogorimagongo federal stituency, Hon. Yusuf Ah Tijani, has given out items w about N50 million to his con

Some of the items donated

Speaker: Zoning splits Ondo Assembly / PAGE 42 | PDP’ll reclaim Ekiti, says Ex-Speaker / PAGE 43

POLITICS

NEW TELEGRAPH

newtelegraphonline.com/politics

ayodele Ojo

Deputy Editor, politics

2015: Those opposing Jonathan’s re-election are not serious –Yakasai

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

p-14-15

WEDNESday March 12, 2014

Budget 2014: Okonjo-Iweala’s running battle with lawmakers

inister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala has always been on the hot seat since she assumed office in 2011. No doubt, she came to the job riding on the crest of her brilliant track records. Everyone knew the role she played during the Olusegun Obasanjo era when Nigeria secured a historic debt relief from the Paris and London clubs. But since her second coming, each year has presented with more daunting challenges as she steers the Nigerian economic ship. Benchmark war The most recurring challenge has been the disagreement between the Ministry of Finance and the National Assembly over one of the key parameters of the budget – the crude oil benchmark price. This is closely tied to the projected crude oil production, its export, sales and how much money would be available to government to run the economy. Every year, the Finance Ministry had always prepared the budget using a low benchmark while the legislators had always wanted a higher oil price benchmark. The Economic Management Team which is headed by the Finance Minister believes that a low oil price benchmark is better for planning to give enough for the volatility of crude oil price in the interna-

In the last couple of months, the Minister of Finance and Co-ordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala has been engaged in a long battle with the House of Representatives over the 2014 Budget. ONWUKA NZESHI recaptures the cat and mouse game.

Okonjo-Iweala laying the 2014 budget before the National Assembly.

tional market. According to the team, it makes more economic sense to budget with prudence, pray for a bumper harvest and save the excess for the rainy day. This theory does not go down well with the legislators in the National Assembly. They see it as a ploy by the executive to stash huge funds into the Excess Crude Account (ECA) which only the executive will disburse later on its own terms. In what may seem like prodigal economics, the legislators and

state governors want every kobo earned from oil rolled into the budget and shared. There is distrust and suspicion over who gets what share of the petro dollars. In the 2014 Appropriation Bill, the executive

CROSSFIRE I think INEC has lost the moral right to tell us when to start campaign and when not to start campaign. If the shuttles President Goodluck Jonathan has made to Sokoto, Owerri ... are not campaign purposes, then what is a campaign –Lai Mohammed

Jonathan has not embarked on election campaign but a unity rally. Nobody is campaigning as there are no candidates for any election. What the PDP is doing is interactive rally for unity amongst the party members -Ahmed Gulak

proposed a benchmark price of $74 per barrel; the House demanded that it should be raised to $79 per barrel while the Senate opted for $76.50 per barrel. After weeks of haggling, the two chambers of the National Assembly finally settled for $77.5 per barrel as the benchmark. The divergent positions earlier taken by the legislators prevented President Goodluck Jonathan from going to the National Assembly to present the budget. But by the time the legislature harmonised their positions, Jonathan delegated the function of laying the budget to the Minister of Finance. 50 questions No sooner had Okonjo-Iweala laid the budget than she got an invitation from the House CONTINUED ON PAGE 40

POLITICAL NOTES Kashamu: Jonathan’s new spokesman

he rank of President Goodluck Jonathan’s media team seems to be swelling by the day ahead of the 2015 elections with the latest entrant being Ogun State-born controversial businessman, Buruji Kashamu. Before his new “assignment,” Kashamu was the undisputed leader of the ruling Peoples Democratic Party (PDP) in the South-West, though he was hardly recognised by most chieftains of the party in the zone. He becomes the third Ogun indigene in Jonathan’s media team. His two other kinsmen; Reuben Abati and Doyin Okupe, presently serve as Special Adviser on Media and Publicity, and Senior Special Assistant on Public Affairs, respectively. But, unlike Abati, who is mainly responsible for managing the relationship between the president and the growing number of media entities that cover his activities, the moneybag turned presidential attack-dog has joined Okupe in lashing out at Jonathan’s perceived enemies. And incarryingouthisbrief in the self-appointed role, Kashamu has practically singled out former President Olusegun Obasanjo. The former president recently drew the ire of the Presidency with his insistence that Jonathan agreed not to contest for a second term after his current tenure elapses in 2015. In a test case, Kashamu did not spare words in criticizing Obasanjo over the revelation contained in his letter, entitled “Before it is too late.” To him, the claim is a campaign of calumny by a “hypocrite and criminal, who is not only responsible for the nation’s woe, but out to destroy the country through blackmail.” Thumbs up! His bosses may say. But, while it is expected that aides defend actions of their principals at all times, the way the new “presidential spokesman” has quickly adjusted will justify Jonathan’s option for an Ogun three-man media team despite the Federal Character principle.

14 INTERVIEW

Sanctity of Truth

Wednesday, March 12, 2014

2015: Those opposing Jonathan’s As an elder statesman, what is your view on the state of the nation? This is a developing nation. Any government that comes can only do its best and leave the rest to others coming behind it. There are many problems in the country. I am not happy with the massive corruption that is pervading the entire life of the country but I am happy that the government is now aware, at least it is wiser than before by adopting a development programme initiative. For example, they have definite programmes for power generation, distribution and transmission. They have definite programme for participating in Nigeria railway system to ease transportation difficulties. They are now dredging the River Niger and I understand that it has now reached about 90 per cent completion target. And they are now addressing the problem of poverty by trying to reactivate agriculture. These are two things that would provide quick remedy to the problems of poverty and unemployment. If you want to change your country quickly, address your mind to agriculture and industry. Industry cannot be done overnight because you have to generate power, distribute and transmit it. But agriculture, in a matter of limited time, you can address the issue of resuscitating the sector as long as you have the people who are ready to work. I think with the poverty we have, there is a sustainable agricultural programme and everybody will like to go to farm at least to generate enough food to take care of his immediate family. These are the things that the government is doing. I have served in government for 12 years; eight in my state as Commissioner for Information and later Commissioner for Finance and four years at the centre as the Special Adviser to the President. So, I know that for everybody, no matter how intelligent he is to understand the inner working and intricacies of any government, it requires minimum of two years. The first year the budget he is running is not his own, he is operating his predecessor’s budget. The second year is the year that he will start and probably preparing his own budget and when it is passed, that is the proper year that he will start to initiate programmes he has and people will realise how important it is to their lives and they will begin to support him or not. In view of what you just said, do you feel President Goodluck Jonathan having second term would be of advantage to Nigeria? Well, I think any government that served for only one term would leave quite a lot of jobs undone. Any government that served for only one term would only initiate programmes, but you cannot complete it. If Jonathan seeks re-electon in 2015, would it be of benefit to Nigerians.... It depends on him. If he wants to contest, some people would support him and some would not support him. So, it depends on the effort you put in to generate goodwill among the people. So, do you think Jonathan should run in 2015? I will certainly wish that the issue of the candidacy

There is no reason why a man at my age would tell lies. I have nothing to gain. I resigned my connection to partisan politics some 12 years ago, since 2002 and I did not belong to any political party now. I am a Nigerian and when the time comes, I will give my support to anybody I like

Alhaji Tanko Yakasai, Special Adviser to former President Shehu Shagari on National Assembly Matters is the chairman, Northern Elders’ Council (NEC); a group believed to be rallying Northern support for the re-election of President Goodluck Jonathan. In this interview with TEMITOPE OGUNBANKE, Yakasai speaks on the national conference, 2015 elections, insurgency in the North, formation of NEC and Prof. Ango Abdullahi. Excerpts: of President Jonathan would come and go. This country cannot be destroyed because on one single individual. I am not happy about the temper that people are generating or raising whether Jonathan should contest or not, I am not happy about it. To me, for those who are saying if he doesn’t contest, the hell would fall and those who said if he contest, heaven would fall, are talking rubbish. The constitution of this country provides for any individual to aspire for any office and it does not provide for anybody to stop him from aspiring for the position he wishes to aspire to. And the constitution does not give any Nigerian the right to tell somebody to contest or not to contest; it’s his own decision. Whether to contest or not is an individual decision. So, when the time comes, if President Jonathan decides to come out, like I told you before, some people would support him and some people would not support him. But I don’t want to commit myself to any candidate until I know all the candidates that are vying for the position of the president. I know there are political parties and programmes of their parties. If I am convinced that programme A would take this country to the promised land, I will support it. If it would not, I will not support it. So, I am waiting for the presidential aspirants to come out and unfold their programmes for this country, so that we would be able to evaluate which is the better alternative that we have and I would then make up my mind. Many people seem not to be convinced about the emergence of the Northern Elders Council (NEC). What actually led to its formation? To be honest, we were told that the Northern Elders Forum (NEF) were trying to address a meeting of Northern traditional rulers and we felt that was a suspicious attempt to drag our traditional rulers into political controversy and we felt that it was not in the interest of the traditional rulers themselves and it was not in the interest of the North and it was not in the interest of the stability of the country. So, we went into the meeting and we wanted to air our own views, advise the traditional rulers as politicians, so that we can draw their attention to the consequences of a group of politicians going to address them. It was never done before. So, when we went and fortunately, the traditional rulers were persuaded not to listen to us and we said after all, we can go and form our own group and get our ideas and it will depend on the people of Nigeria and the North to see which argument they will buy. That was the beginning. So, we decided to form our own and we formed NEC. I was elected as the chairman and leader of the group and we were now busy trying to spread our tentacles to the local governments and states in the North, so that we would be Yakasai

able to address our views to the electorate in the North and for people in the North to understand what is our concern. Our concern was about that the rhetoric that was going on from people like Ango Abdullahi, Asari Dokubo and those who are trying to plunge this country into trouble. And when that trouble started, it would create a lot of troubles. You can start a trouble but you cannot know when it would finish or who and who it would consume and not consume. In the course of that, we felt that we should rise up to prevent the havoc from happening in time, so that the disaster would be averted. I have a stake in Nigeria. I was brought up in this country and I have stayed in this country for 88 years now, so the country has done everything for me. I have 21 children alive, all of them graduates. I have 67 grandchildren, so all

INTERVIEW

Sanctity of Truth

Wednesday, March 12, 2014

re-election are not serious –Yakasai together, we are about 90. I will not like anybody to cause trouble for me and 90 members of my family, not to talk of other people. And I realise that I was alive when the civil war took place and I witnessed a lot of crisis in this country, riots infighting and so on and I have see that most of the people who died were not the people who started the trouble. And the rich ones among us just buy air tickets and fly away and leave the rest to suffer the consequences. So, as long as I am alive; as long as I am capable of making my contribution, anytime I find people trying to cause trouble in this country, I will definitely come out and speak out against them. But many people are of the view that NEC was formed to rally Northern support for Jonathan’s re-election in 2015? I told you why NEC was formed. There is no reason why a man at my age would tell lies. I have nothing to gain. I resigned my connection to partisan politics some 12 years ago, since 2002 and I do not belong to any political party now. I am a Nigerian and when the time comes, I will give my support to anybody I like. But as of now, Jonathan is not a candidate and there are no other presidential candidates yet, so I would wait until the candidates are out. But we are not stupid to begin to support somebody who himself has not declared as a candidate. Anybody who is supporting or opposing Jonathan’s candidacy now is stupid and he is definitely a stupid man Why do you think so? Because there is no candidate. How can you campaign without a candidate? You campaign because there is a candidate. There is no candidate of the All Progressives Congress (APC), there is no candidate of the Peoples Democratic Party (PDP); there is no presidential candidate of any party in Nigeria today. I don’t know of anyone. If you know tell me. How can you begin to campaign for someone you don’t know or somebody who has not declared his interest in power? So, I will wait for him to declare that he is interested in power to know whether I should campaign for him or not. Secondly, Nigerians don’t read our constitution. Our constitution does not allow any organisation like our own to campaign for any candidate, even if the candidate has declared his interest. The constitution provides that only political parties can campaign for a candidate vying for political office. It is unconstitutional for anybody to campaign for any c a n d i d at e whose or-

I am telling you they are stupid. I am more experienced than Ango. I know Nigerian politics more than him. He is just 14 years younger than me. I know he is stupid. He is talking rubbish. You see Ango is only good at raising temper; he doesn’t solve problems. Experience has shown that he has never performed when he is in office ganisation is not a political party. How can you then described the activities of the likes of Ango Abudullahi, NEF, Junaid Muhammed and others who are at the forefront of the campaign for a Northern presidency in 2015 and are against Jonathan’s re-election? They are just stupid. All of them are stupid. They are stupid. I am telling you they are stupid. I am more experienced than Ango. I know Nigerian politics more than him. He is just 14 years younger than me. I know he is stupid. He is talking rubbish. You see Ango is only good at raising temper; he doesn’t solve problem. Experience has shown that he has never performed when he is in office. He was a Vice-Chancellor of Ahmadu Bello University and he was driven away by his own students. He had to be dressed in a woman’s attire to be let out of the university and since then, he left the position. You know that the slogan, ‘Ali must go’ later turned ‘Ango must go,’ by the students of Ahmadu Bello University. They destroyed the university, destroyed his house, sacked his wife and children. They took over his office and that was the end of his vice-chancellorship. Go and find out. The former senator from Niger State, Nuhu Aliyu was then the Commissioner of Police and it was he who rescued Ango and he was later given National Adviser to the President on Food Security; he did not provide food for Nigerians. Go and ask Obasanjo, Ango served him. With the present situation in the North, some people are of the view that the emergence of NEC and NEF and other t Northern groups is causing division in the North? That is not right. In the First Republic, there were about 12 political parties in the North; there was NPC, NEPU, UNBC, and many more, who would sponsor candidates for election. That did not divide the North. Not only the North, the Yoruba and the Igbo always have their divisions. There is no way you can have about 10 to 30 million people having the same opinion; it is not proper. And the unity of the North was largely brought about by the civil war where the Tivs, Kanuri, Fulani all put in their effort in order for the country to win the civil war. Now after the civil war, the whole country, North and South were united behind our leader, Gen. Yakubu Gowon. We respected him as a leader who maintained the unity of the country, who led us to defeat secession in the country. It was only when Gowon was overthrown that the unity of the North was scattered. For the first time, tribalism, religious differences came in, and since then, it has been the same thing. Military staging a coup against fellow military and it was all engineered either by love for power or out of tribal, ethnic or religious sentiment, not for programmes that would better the lives of Nigerians. So, that was the beginning of the disunity in the North. And also the coup against Shehu Shagari made the matter worse because Shagari, a Northerner was overthrown by a fellow Northerner, Gen. Muhammadu Buhari. And because of that people who were in NPN will never forgive Buhari because he scattered democ-

racy. We are happy that we are back to democracy and we would develop the country’s democratic culture. We believe that in a matter of time, people from other countries will come to Nigeria and learn because of the number of intelligent people that we have in Nigeria. How do you see Buhari’s presidential aspiration? It is up to Nigerians to decide to elect Buhari or not in an election. Do you see the North supporting Buhari ahead of Jonathan in 2015? At the moment, there are 16 governors in PDP and I think Buhari had only one governor, a CPC governor. Now that CPC has merged with ACN and ANPP to form APC, nobody can predict what will happen. But as at now there are 10 PDP governors in the North and nine governors in the opposition party. There are eight PDP governors in the South. Before five PDP governors defected to APC, PDP was more or less a Northern party but now with its strength reduced in the North, the PDP and the APC are neck to neck. APC in the whole country has 16 governors while PDP has 18 governors and there are also two governors, Governors Segun Mimiko (Ondo) and Peter Obi (Anambra), from other political parties, who are from all intents and purposes with the PDP. So, it is better to wait for the election to come and after the election, we would be able to do the perspective and see which party has the largest number of governors. What is your view about the national conference? As the chairman of the National Summit Group that advocated for national conference, I believe the conference should take place and I believe something better would come out of it given the nature and the quality of people who are likely to populate the conference. The unity of Nigeria is a no-go area for the confab. What is your take on this? The unity of Nigeria should not be discussed. It would be diversionary. What we should discuss is development of Nigeria. Disunity of Nigeria is not what Nigerians want to discuss. I was a member of the 1994/95 constitutional conference organised by Sani Abacha’s regime and before the conference Abacha appointed a commission to go round the country to hear public opinion and there was no single memorandum submitted to them asking for disintegration of Nigeria. This time around when Jonathan appointed the Presidential Advisory Committee on National Conference, they went round to seek public opinion and no single Nigerian out of about 180 million wrote to them asking for the dissolution of Nigeria. Therefore, on the basis of their recommendation, the President decides that Nigerian unity is not an issue. What the people want is not dissolution, all they want is development. How do you see the security challenge in the Northern part of the country? It is bad in the North-East. When the Niger Delta militants were fomenting their mayhem, it was very bad and now it is history. Government is trying; they are trying many strategies to solve the problem. I believe that they should not rely on one area of solution; they should also consult widely and involve international communities. We should learn from different experiences on how some countries solved insurgent problems in their country. Don’t you think the insurgent in the North will affects 2015 general elections in some parts of the North? If you go to any state where there are problems, you will find out that not up to 10 per cent are affected by the Boko Haram problems. Ninety per cent are free, so election can take place in those places.

16 POLITICS

Sanctity of Truth

Wednesday, March 12, 2014

Battle for the soul of Kwara

PDP celebrates ‘successful’ poaching President Goodluck Jonathan led other bigwigs of the Peoples Democratic Party (PDP) on a unity rally in Ilorin, Kwara State on March 3 where political bigwigs in the state defected to the ruling party. BIODUN OYELEYE reports

ndeed, Senate President David Mark, who accompanied President Goodluck Jonathan on the visit to Ilorin, the Kwara State capital on March 3, was almost moved to tears on seeing the crowd. And it should be understood; many would not have given the party a chance of putting together a show-stopper that the event eventually transformed into. With the departure of Senator Bukola Saraki, who had organised a similar show for the president during his 2011 campaign tour of the state, from the PDP, it was thought the party would be unable to organise an elaborate event that would move such men as Mark to tears. But Mark was there and he almost cried, when he took the microphone to address the crowd. National Chairman of the party, Alhaji Adamu Mua’azu described the event as the celebration of ‘successful poaching’ of Kwara politicians by the PDP. And he was right because most of the men, who were being celebrated by the party on that day by President Jonathan and the other PDP leaders, were once on the same page with Senator Saraki, the former governor of the state. They used to call him their leader, until his decision to part ways with the PDP and moved to the All Progressives Congress (APC), a decision some of them have now seen as opportunity to assert themselves politically. They include Senator Makanjuola Ajadi, a former gubernatorial candidate of the defunct Action Congress of Nigeria (ACN) who later joined the PDP and has just been appointed Presidential Adviser on National Assembly Matters and Prof. Shuaib AbdulRaheem, a foundation member of Saraki’s engagements as governor in 2003 and now chairman of the Federal Character Commission. There is also Alhaji Bio Ibrahim, former Transport Minister and former Speaker of the Kwara State House of Assembly during a greater portion of Saraki’s two-term tenure; Senator Simeon Ajibola, running his third term in the Senate from Kwara South; Yinka Aluko, Special Adviser on Security to Saraki throughout his tenure and Ben Duntoye, a former Commissioner for Information under the former governor. There were also those who have flatly refused to have anything to do with Saraki, hence their decision to move to the PDP when the senator defected to the APC. Such men include Mr. Dele Belgore (SAN), a former gubernatorial candidate of the defunct ACN; Rev. Bunmi Olusona, governorship candidate of the defunct

L-R: PDP National Chairman, Alhaji Adamu Mu’azu; President Goodluck Jonathan presenting Princess Bilkisu Gambari to the party and Senate President David Mark in Ilorin.

Alliance for Democracy (AD), Princess Bilkis Gambari, sister to the incumbent Emir of Ilorin and former senatorial candidate of the ACN as well as Alhaji Hakeeem Lawal, first son of the deceased former governor of the state, Alhaji Mohammed Lawal. There was also Mr. John Dara, former presidential candidate of the National Transformation Party (NTP) in 2011 and gubernatorial aspirant under the PDP in 2003. An excited Mu’azu told the large crowd of party faithful that his leadership of the PDP has been on a learning process which now is yielding good results. “As a good student, I will try to learn and in the learning process, we have started poaching and you can see today the outcome of our poaching in Kwara State. We have all the leaders of the opposition in the last election,” he said while pleading with those who defected from the party to reconsider their decision and come back. His words: “As the chairman of the party, I want to assure you (defectors) that this is your home, this is where the journey started and I believe your spirit is here. Therefore, I want to welcome you back when you are ready to do so. Please forgive them.” Muazu, who insisted that Kwara is PDP and PDP is Kwara, urged the people of the state to vote for the party in the 2015 elections, describing the PDP as the only truly democratic party. “It is the party of the rich, the poor, the young, the old, the women and men, the rural people and the urban people. It is not just the largest party, it is the mostly widely represented party,” he said The event saw the political leadership of Nigeria relocating to Kwara with the exception of the Speaker of the House of Representatives, Aminu Tambuwa. Apart from Jonathan, others at the event included Vice President Namadi Sambo, Mark, Mua’zu, chairman, Board of Trustees of the PDP, Chief Tony Anenih; PDP Woman Leader Kema Chekwe; Chairman of the PDP Governors’

Forum, Godswill Akpabio, Governor Babangida Aliyu (Niger), Governor Liyel Imoke (Cross River), Deputy governors of Kogi and Sokoto states and the now sacked Minister of Sports, Mallam Bolaji Abdullahi. Every resident of the state capital felt the impact of the rally, which was tagged “Freedom Rally” and described as a grand reception for the new PDP members obviously to avoid the party running foul of the law against political campaigns before the set time. Transporters had a field day conveying party members. It was gathered that a leader of the party at a point asked commercial vehicle owners to park their cars and head for the rally with an understanding that he would pay their daily wage for the day. Such measures were meant to counter the seeming political offensive from the state government which also fixed an empowerment programme for taxi drivers for the same day and time. But many residents were excited that despite the pre-visit noise from the two parties, the event held without any form of violence. The APC ensured it kept its members in the hinterland from visiting the state capital on the day by fixing its monthly ward meeting for the afternoon. Thus the possibility of clash was greatly reduced.

In PDP we talk about one man, one vote; one woman, one vote and one youth, one vote. No more imposition. No more godfatherism... I have a governor in my state and I have never controlled him because he was elected by the Bayelsans; he has to serve Bayelsans

Jonathan used the occasion to throw barbs at Senator Saraki, but without mentioning his name. “It is your people that matters in politics and not yourself,” he said. “If you get involved in politics, you have to think about your people, not yourself.” The president also told the gathering that he is not a dictator. The president said: “In PDP we talk about one man, one vote; one woman, one vote and one youth, one vote. No more imposition. No more godfatherism. If you are elected to do your work as a governor in PDP, we give you the freedom to do your work without any molestation. I am a president now, I have a governor in my state and I have never controlled him because he was elected by Bayelsans; he has to serve Bayelsans. He does not need to serve Goodluck Jonathan. Though we may monitor the activities of the governors, but we give them the freedom to work. “That is PDP. It is only PDP governors that can do that. We do not own the country. We are all serving the people. We do not own the state; we are only serving the people. We do not own the local government, we serve the people. “The National Assembly serves the people of Nigeria, we do not dictate to them. The governors serve the people of the state, the president serves the people of Nigeria and that is PDP. PDP is the only party that can liberate everybody. Like Kwara State, it is only PDP that can give you what you want.” Speaking on the occasion, governor Akpabio assured that the PDP will reclaim Kwara in 2015. He said: “With the turnout we have witnessed here today, it is clear that come 2015, the people of the state will come out en masse to install the PDP at all levels of governance just like you did in 2011. Kwara since the days of our late Baba (Olusola Saraki), has always been playing national and not regional politics which the APC wants to impose on you. We are here today to join you to say no to oppression and intimidation. We are here to declare freedom over the state.”

POLITICS 17

Sanctity of Truth

Wednesday, March 12, 2014

enator Bukola Saraki last Saturday tested his popularity in Kwara State. It was in response to the visit of President Goodluck Jonathan to the state to shore up support for the Peoples Democratic Party (PDP) ahead of the 2015 elections. The response was both verbal and non-verbal. While Jonathan’s rally held at the spacious Metropolitan Square, Saraki’s version held on the long stretch of road from Geri-Alimi roundabout all the way to the Emir’s palace. It was a hot afternoon but neither Saraki nor the horde of his supporters who gathered at the Ilorin International Airport to welcome him and followed him through the long trek seemed to care. The long stretch of vehicles on his entourage blocked the two-ends of the Ilorin-Ogbomoso expressway, going far back and almost reaching Eyenkorin. The crowd was jubilant; singing and dancing as they swept the empty space with their brooms; (symbol of the APC). Although many had expected him much earlier, the aircraft that brought Saraki landed at about 2p.m. On hand to receive him were several leaders of the APC, and some traditional rulers, mostly drawn from the Ilorin emirate. The drama started soon as Saraki entered his vehicle. For his convoy to get out of the airport gate was a task for the drivers. The crowd insisted on sighting him. He had to come out to ‘show face’ before he was allowed to proceed. But if that was easy, supporters waiting for him at the Geri-Alimi roundabout proved tougher. “The senator must come down and walk with them on their street,” they chorused. He obliged and that decision turned out to be the elixir the crowd had been waiting for. Although they allowed him back into the car once in a while, Bukola eventually trekked most part of the trip with the jubilant APC members till they got to Emir’s palace. As such a journey that should have taken about 20 minutes ended up lasting about two hours. Saraki described the trek as spontaneous but it was a direct throwback to the PDP; the sort of challenge people throw to their opponents when there is need to prove who is on ground. It was a necessary move for the APC because the PDP rally witnessed a turnout that would have made many untested politicians to shake. Those in the know however understand the gimmick of rallies in Nigerian political system as sometimes unreliable pointer to electoral victory. Crowds could be rented and there are claims that most of those in the PDP rally were not from Kwara State. A government official in the state told New Telegraph that his people from Kogi State confirmed to him many of them were moved from Egbe to attend the rally. There were many of such stories about the rally although the PDP has denied they imported many attendees. But whether real or bought, the crowd and the show of force and panache that usually accompanies a presidential visit was strong enough during the PDP rally and Saraki needed to nullify its effects on the mind of some members of the APC who do not have the same insight into the

Battle for the soul of Kwara

Senator Abubakar Bukola Saraki (in a blue kaftan) Sandwiched by APC Supporters on arrival at Ilorin International Airport, Ilorin, Kwara State.

Saraki on popularity test Just five days after President Goodluck Jonathan stormed Ilorin, the Kwara State capital for a rally of the Peoples Democratic Party (PDP), the former governor of the state, Senator Bukola Saraki has given back what supporters of the All Progressive Congress (APC) are now celebrating as the ‘correct reply’. BIODUN OYELEYE reports politics of the state with him. Thus even though it was one of his normal visits to his constituency, this one was turned into a big rally to demonstrate the strength of the APC on ground. Many things were significant about the incident. First was the fact that apart from the political class, traditional chiefs in the emirate also were on ground to welcome the former governor. Another significant aspect of the event was the visit to the Emir of Ilorin, Alhaji Ibrahim Sulu Gambari. For those who know the relationship between Saraki and the emir, the visit would be seen as a way of tactically ‘sweeping away’ the footsteps of an unwanted visitor. But more importantly, it was a subtle reminder of an emerging argument by the APC that some elements within the PDP have in the past threatened the continued existence of the emir’s throne. This was one of the factors Magaji Nda put forward for standing against the PDP. According to him, the presence of Alhaji Hakeem Lawal, son of the late former governor of the state, Alhaji Mohammed Lawal, is a strong signal of the possible anti-emirate bent of the new coalition in the PDP. “It is a threat to the emirate; we can’t forget what they did that time,” Nda said during the interview. Saraki himself described the outpouring of emotion as unprecedented for him when he spoke with reporters. He said: “I think a lot of people just wanted to show their loyalty and support; I think it was a reaction to the PDP rally and the kind of insinuations that were being made after. The last time this happened to me was when I was the governor, just before the re-election. This has never happened. Even them, I think it was when we got to Sawmill or Baboko that we got down; this one it was from the airport. We had to get down before Geri Alimi roundabout

I think all of you were present to hear the message of their rally; I think it was freedom and I ask myself freedom from what? Is it freedom from a government that is delivering on promises and not by action? ...people just wanted to show and let Nigerians know that whatever they saw before is nothing; that this is where the structure is. I think that is what I could see to that. “It was not a challenge but a message; to say this is where the people of Kwara are, these are the people we associate with. What was even symbolic is how the people along the shops all had gotten the symbol of the party; the broom. It was really a clear message and once again I will like to thank the people of Kwara for their love despite the intimidations; we don’t use force, we don’t bring down people billboards, we don’t do things like that . I thank them again. I was to have come yesterday, you know I normally come on Friday but we just changed the time and see how our people have reacted.” The senator dismissed arguments by the PDP that it has come to bring freedom to the people of Kwara, saying the reverse is actually the case. Kwarans, he said, have not benefited anything from the Jonathan administration despite giving him total support during the last election; hence the need to move away and embrace ‘change’. His words: “I think all of you were present to hear the message of their rally; I

think it was freedom and I ask myself freedom from what? Is it freedom from a government that is delivering on promises and not by action? And you would have thought that if the Federal Government is coming here; the entire presidency was here in Kwara on that day, they should have come with something, not promises; whether it is a road, a dam, or some hospital or institution. I remember that as a governor, we spent over N4 billion on Baruten road which is a federal road but I said it is our people that use it. The same for the Kaima roads that our governor is doing now; it is a federal road. So, we are the ones freeing ourselves from them and that is why we say it is time for change. “I expected at a rally like that, you will tell us what Kwara will benefit from this association. But nothing, just freedom and then a few people who have never been able to deliver politically, who believe that this is their opportunity, but insa allah they will fail again. You know I told you about two and half years ago; I asked, look now, who do you see, you will see nobody but I promised you six months or nine months to election they will start coming. “We don’t wait for elections, we are there for our people at all times. I predicted it; that when we are close to election they will come; from Lagos, Abuja etc. and they will tell you freedom, freedom from what? But I think Kwarans are more enlightened, they have seen the light that these ones are not leaders that are consistent with their people; they just want them now for the election that is ahead. After the election is gone, you won’t see them again. Have they done rallies like this before? So, all those times they didn’t need freedom? It’s only now they need freedom? It is clear to us that it won’t sell in Kwara.”

ARTS

WEDNESDAY, MARCH 12, 2014

NEW TELEGRAPH

www.newtelegraphonline.com/arts

“Literature adds to reality, it does not simply describe it. It enriches the necessary competencies that daily life requires and provides; and in this respect, it irrigates the deserts that our lives have already become.”― C. S. Lewis

LITERATURE

Corporate governance… curbing board, management excesses Charles Nwabulu

“T

HE notion of corporate governance can simply be put to effective governance of the corporation in the real sense of the words – ‘corporate’ and ‘governance,” says Dr. Fabia Ajogwu, author of Corporate Governance & Group Dynamics. It has been argued that shareholders have an incentive to invest resources in curbing issue both managerial and owner opportunism, however the recent experiences show that the significant shareholders that are most capable of curbing board and management excesses have showed an apparent unwillingness to oppose the management and the boards of the companies. This situation is more prevalent in companies operating within group structures (companies having parent–subsidiary relationships). Recent crisis in Nigeria raised serious questions about the adequacy of corporate governance arrangements particularly in the banking sector, and show that not only must existing corporate governance arrangements be questioned in terms of their ability to cope with managerial problems but also in terms of ability to cope with the complexities of group structures. The book, with a foreword by Dr. Christopher Kolade, former President of the Society for Corporate Governance Nigeria, examines the existing models of corporate governance in Nigeria to see if they are adequate to cope with the complexities of group structures. It concludes with the finding that corporate governance within groups is better observed when the respective boards of the parent as well as the sub-

sidiaries are accountable to their respective shareholders and stakeholders, and take responsibility for the direction of the specific enterprise that they are by law responsible for. The book further recommends that it is this specific responsibility of each board that could ensure proper disclosures, integrity in financial reporting and a duty of accountability of management to the shareholders. The book sets out as a background the different waves of corporate failures or challenges that prompted the rethink of existing corporate governance models. The author discusses the modern corporate governance questions and premises after reviewing existing corporate governance works. Theories of corporate governance were carefully examined in the context of today’s company administration. The

single-entity focused statutory approach as well as the categories of codes of corporate governance as well as disclosure requirements regarding corporate governance. The Author lays out the following crucial questions: Does the control of a subsidiary by a parent company, together with the functional reporting lines that exist between the management of the parent company and those of its subsidiaries, not raise concern for effective corporate governance? What is the corporate governance impact, where a significant shareholder in a group wears several hats (e.g. shareholder, creditor, supplier,) in relation to the company? Are existing models of corporate governance in Nigeria adequate to cope with the complexities of group structures especially in the banking and financial services sector? The book looks at the precipitating questions of - Can the corporate governance codes and models deal with behavioural problems associated with the fusion of ownership and control especially in group structures? Can statute-based codes or regulations including regulators’ reporting requirements effectively tackle the higher values-driven requirements of trust-based relationships that exist in group structures? In discussing the concept of corporate control and separation of ownership and management within groups, the author looks at the impact of control factor on governance. The framework of parent-subsidiary relationship is discussed with the incidents of unitary control on multi-related entities cross-borders. Chapter 5 examines board responsibility and effectiveness in

governance in companies operating within groups, enhancing corporate governance through Committees. Chapter 6 looks at corporate governance against the background of debt and equity. Private equity and shareholder control mechanisms are carefully analysed. The crucial role of professions in corporate governance is discussed with specifics on the board, Company Secretary, and Auditors. The role of the Regulator is laid out in chapter 8 with detailed discussions on the role of the Corporate Affairs Commission, the CBN, the National Insurance Commission, and the National Pension Commission (PenCom). The author highlights the overlapping roles of the different bodies and conflicts between the different regulator codes. Corporate accountability and the acceptance of the International Financial Reporting Standards (IFRS) in Nigeria are discussed in chapter 9. The relationship between risk management and corporate governance is examined in chapter 10. The SEC and CBN Codes of Corporate Governance are appraised in chapter 11. Ajogwu makes prescriptions on rules that should govern parent - subsidiary relationships. He outlines the rights and duties of parent and subsidiary companies in the pursuit of shareholders’ interest. He makes prescriptions on appointment and removal of directors and management as well as management of conflict of interests. The appendices include the IFRS current list, disclosure check list, as well as the different industry codes, and corporate governance star rating criteria. •Nwabulu, formerly tutor, University of London, (Ext).

Tolerance as panacea to human relationship BOOK TITLE: Tales of the Wind Author: Makepeace Deorgi Publisher: Kennyson Bookerville House Pages: 176 Year of Publication: 2013 Reviewer: Oladipo Kehinde

ales of the Wind is a novel that depicts the plight of women folks in the Nigerian society. In an ideal society, women and children are being protected. Make-peace offering has given an insight on how to stem the squabble and unsavory situation between couple. We are creatures of emotion and tolerance is the panacea to human complex relationship. The author urges family

to live in peace and harmony. A house divided against itself cannot hold. The author has laced this lucid tales in four thematic movements namely: “As A Child”, “As A Teenager”, “As An Adult” and “Epilogue” The narration metamorphoses into an artist whole. Mary cleaves to her husband in spite of the ill-treatment doles on her. We are living in a society where we unanimously believe a man can piss and walk at the same time and a woman cannot. A man is nothing without a family. A man needs a woman to raise a family. Chris, the man of the house, let things to fall apart, because of his extra -marital affairs. Amid a series of hardship, Mary wanted the best for her children, but he

could not cater for the home-ront. The author craves that marital violence is blight on humanity. Poverty is a destroyer of lives. To say the truth in few words, only few ladies would like to marry a man like their father. Chris maltreated his wife and daughter and appraises the boys. This is a book of a relative problem in our society. It is witty, a delight of reminiscence with a straight forward language. Tales of the Wind portrays the reality of womanhood as the epilogue reads in page 172 “Yes, she was free. That was all she wanted to be: free from self-imposed slavery. But then at the back of her ears she hears the voice speak ever so softly, ‘should you not have stayed? ”

EDITORIAL

Sanctity of Truth

Wednesday, March 12, 2014

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.

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 12, 2014

Beyond the tokenism of rewarding ex-militants

peaking before the House of Representatives’ Committee on Niger Delta in defence of his 2014 Budget, Kingsley Kuku, special adviser to the President on Niger Delta, hinted that N23.625 billion would be required to pay N65, 000 monthly stipends to 30,000 ex-militants. N3.825 billion would also be needed to cover the cost of operations in the Presidential Amnesty Office. Furthermore, N63.28 billion will be spent on former militants. Out of the amount, stipends and allowances for an estimated 30,000 militants will gulp N23.6 billion, about half of the N48billion spent on the militants in 2012. This year, a programme for the re-integration of the militants will cost N35billion. Two years ago, the programme of re-integration cost N924million. Operational cost for the running of the programme called Presidential Amnesty Programme is estimated at N3.7 billion, far less than the N12.8billion spent in 2012. Niger Delta ex-militants amnesty programme is to cost N63b. There is an additional charge of N546million this year, meant for what is called ‘reinsertion, transition safety allowances for 3,642 former militants who fall under a third phase of the amnesty programme. Statistically, Nigeria will spend an estimated N2million on every militant captured by the programme this year. Last year, the amnesty

programme gulped N66.28 billion and N66.17 billion in 2012. The way the Presidential Amnesty Programme is being managed gives cause for serious concern. At inception, the idea was to disarm the militants and address the fundamental issues that brought about their animosities and agitations. However, a different twist has surfaced, as only one leg of the issue in the amnesty programme is taken care of. The impression now is that taking care of the ex-militants is all that matters. This is erroneous and misleading, as the deep-seated environmental issues that bedevil the Niger Delta have been left unattended to, and this is a time-bomb capable of wreaking immeasurable collateral havoc to the polity. The Niger Delta is one of the world’s most important wetland and coastal marine ecosystems and home to some 30 million people. Due to its rich natural resource base, environmental exploitation is rife and pollution affects the people in unprecedented ways. Oil has been extracted in the Niger Delta by national and multinational oil companies since 1958. Oil pollution caused by spills and gas flaring has consistently devastated farmlands, rivers, villages and the air. The government fails to formulate and effectuate proper environmental and compensation regulations. The failure of the oil companies to swiftly deal with oil spills exacerbates these problems

as do spills from oil bunkering. Consequently, the Niger Delta populace experiences massive impoverishment, loss of livelihoods through poisoned land and fishing waters, high rates of respiratory disease and illness, disenfranchisement and despair. Proper governmental policies to reinvest state income from oil in the Niger Delta for social and economic development are desultory. The disastrous situation in many parts of the Niger Delta violates people’s rights to health and a healthy environment, the right to an adequate standard of living and the right to earn a living through work. The rapidly growing population is putting pressure on traditional livelihoods like fishing and agriculture. Only a very few have access to basic services and infrastructure like schools, health clinics, electricity and running water. Therefore, the largesse given to ex-militants is unsustainable. The root-cause of the problem of the areas must be properly addressed. Also, in spite of the humongous amounts that the amnesty programme has gulped, the refineries are not functioning adequately, the bulk of the fuel used in the country is still imported , bunkering is on the increase and so too pipeline vandalisation. What the various state governments in the Niger Delta, the Niger Delta Development Commission (NDDC), and Ministry of Niger Delta are

doing to address the problems of the area is at best tokenist, when compared to years of neglect and concomitant effects on environment and the people. This is more so given that the Niger Delta geopolitical zone contributes 92 per cent of the total national revenue. The management strategy of the amnesty programme inadvertently rewards militancy. No doubt, what Nigeria is getting from the Niger Delta is greater than what is going back to the Niger Delta. However, the major issue of the Niger Delta is not the ex-militants, but the topographical and ecological disaster of the region. Government must embark on immediate massive public works for road construction, clean up, and other infrastructural development that can create immediate jobs for all Niger Delta citizens. A thorough and well planned clean- up will provide immediate employment for thousands of disaffected youths that are currently taking up arms, kidnapping and disrupting the lives of the people of Niger Delta. Nigeria burns $5 billion worth of gas per year, yet the Nigerian government, under pressure from the oil companies has been unable to do anything about this pollution and waste of resources for more than 50 years. This must stop forthwith. Beyond politics, Niger Delta’ hydra-headed problems must be fixed holistically. BOLAJI TUNJI Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director FELIX ABUGU Managing Editor, South SULEIMAN BISALA Managing Editor, North GABRIEL AKINADEWO Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board BIODUN DUROJAIYE News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

Sanctity of Truth

Wednesday, March 12, 2014

OPINION Jonathan’s place in liberating Nigerian women Jummai Calebs

aturday, March 8, 2014, was this year’s International Women’s Day, the first of which was celebrated in 1911. The celebration is a reminder of the plight of women all over the world while it marks their economic, political and social achievements. In history, even among the most socially advanced nations of the world, the status of women was always seen as inferior to that of men. Not only were women’s roles secondary, women were, in several cases, totally excluded from participation in certain activities. All that is now changing fast! The 1995 International Women’s Conference, held in Beijing, was a significant turning point for women. The Conference ended with what is now referred to as the Beijing Declaration and Platform for Action, unanimously adopted by 189 countries, including the developing nations of Africa. Nigeria was signatory to this historic agenda for women’s empowerment and gender equality. Before Beijing, social consciousness among Nigerian women could be said to be virtually nonexistent. We knew of women leaders/activists, like Queen Amina of Zaria, Funmilayo Ransome-Kuti, Flora Nwapa, Margaret Ekpo and Hajiya Gambo Sawaba. Of course, we also knew of events such as the Aba Women’s Riot of 1929, which was one of the very few struggles for the liberation of womanhood in Nigeria, if not Africa. It is, however, wrong to give the impression that since then, Nigerian women have been politically docile or socially inactive, either collectively or individually. There have been other notable Nigerian women leaders and role models such as Kudirat Abiola, Grace Alele-Williams, Bolanle Awe,

Hajiya Usman, to mention but a few. Since the current democratic dispensation in 1999, the Nigerian political space has been enlarged for the participation of women who now occupy key positions in the legislative, executive and judicial arms of government. Again, the list is long and the careers are assorted – Justice Aloma Maryam Mukhtar, Chief Justice of Nigeria, Dr. Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, female Deputy Governors in a number of States, Ministers, Ambassadors, Commissioners, Permanent Secretaries and Directors in the Federal as well as State Civil Service. It is needless to say that the nation’s agriculture sector and the informal economy, especially the small and medium scale business sector, are dominated by women. What is striking is that it is under the Jonathan administration that Nigerian women have attained the highest level of participation in the nation’s social, political and economic life. President Jonathan’s Transformation Agenda contains a National Gender Policy which it mainstreams into all aspects of government planning and development. A major component of that policy is women empowerment in politics. Here, there has been a remarkable success in the creation of awareness on the participation of women in politics. Not only has a Political Trust Fund been established to provide support to women aspirants willing to participate in general elections, a database of women political aspirants has also been created. The implementation of Jonathan’s Gender Policy has also resulted in an increase in women’s representation in Government from 10% in 2011 to over 33% 2013, with the appointment of 13 female Ministers out of 42, representing 31% and 4 Special Advisers out of 18, representing 23%. These appointments have set the stage for the at-

tainment of the Millennium Development Goals (MDGs) target number three on Gender Equity and Women Empowerment. Outside politics, two micro-credit schemes have been set up to assist women: (1) the Women Fund for Economic Empowerment (WOFEE), in collaboration with the Bank of Agriculture and the State Governments and (2) the Business Development Fund for Women (BUDFOW), in collaboration with the Bank of Industry. The two schemes are revolving facilities with an interest rate of 10%. In addition to these efforts, 77 skills acquisition centres have been constructed and equipped across the country to increase income generation, through job creation, for women, especially at the grassroots level. A recent research, conducted and published in a book, titled Goodluck Ebele Jonathan, Champion for Women, shows that Nigeria was 23rd out of 188 countries studied, in terms of women mobilisation, appointment into positions, participation in governance and women empowerment. What, precisely, accounts for President Jonathan’s passionate drive to transform the lives of Nigerian women and improve their welfare and opportunities? Part of the answer is that the President is married to a remarkable woman, Dame Patience Jonathan, who is endowed with some of the greatest human attributes and who is a natural mobilizer of women. The President has, in his private and public life, benefitted immensely from his wife’s virtues. It is generally acknowledged, for instance, that it was Dame Jonathan’s mobilisation efforts that secured Jonathan the massive votes of Nigerian women during the 2011 Presidential election. .Miss Jummai Calebs sent this piece from Abuja and can be reached throughJummaicalebs72@yahoo.com

Kogi: Look inward before it is too late (2) Oyigu Onuche-Ojo Elijah

our Excellency Sir, it is of my utmost conviction and belief that you will be delighted to pilot the affairs of a state that has a bright hope for economical survival since financial dependence is the first parameter that measures the survival of a state. The 2014 budget which you tagged the “Budget of Reality” which has scaled through all the legislative requirements and acceded by you, was aimed at accelerating the transformation of the state and to put the state on a sound economical pedestal. While my letter does not focus on the total breakdown of the budget, I am however concerned on the way the said budget will be adequately financed and the benefiting effects it will have on the good people of Kogi state without totally depending on the federal allocation whose source of income is largely depended on the petroleum resources. As a trained Geoscientist, I am made to know that there are blessings within the soil and when such blessings are properly harnessed, they will not only bring succor to the people but they will also enhance a metamorphic change in the economi-

cal status of the people. Such geological blessings which in most cases appear in the form of mineral deposits are part of God’s plan in bettering the lives of the people that live within the land where such soil containing mineral deposits are found. Nigerians have canvassed and are still canvassing the needs for revenue diversification as a way of remedying the economical impasse and logjam facing the Nigerian state. We have seen that, Oil money can no longer meet the need of Nigerian people despite the robust nature of petroleum resources in Nigeria which made the country rank as the first ten Oil producing countries across the nations of the world. Beside, the people of Niger Delta have made it known to all and sundry through their actions and expressions that the nationally acclaimed oil belongs to them and therefore, the money accrue from oil exploitation should be majorly used for them since the oil is found in their land. This is further known through the sharp disparity in the federal monthly allocations between the oil producing states and the state that do not produce oil. It is also obvious that, the federal government gives back to the 36 states of the federation what each state contributes to the growth of national economy hence the need for us to look inward.

Your Excellency Sir, there was a Nigeria before 1958 when oil was discovered. There was a Nigeria though without oil but with robust economy. There was a Nigeria without oil but with Good educational institutions which was seen as one of the best in the continent of Africa. There was a Nigeria though without oil but was powerful enough to feed her people and was exporting food to other nations of the world. There was a Nigeria without oil whose graduates were not looking for jobs but jobs were handy even before they graduated from school. That Nigeria has not gone on extinct but perhaps there is a change in the managerial approach employed by those who were at the corridor of power then compared to what is obtainable in the present dispensation of Nigerian leadership. Your Excellency Sir, demographic finding shows that Kogi state, despite not being ranked as one of the fifth most populous states in Nigeria is however ranked among the first ten state with high internal emigration net with our youth trooping out of higher institutions of learning without seeing a space where they could pitch the tent of their industrial careers. This has made many of them to travel out of the state to other states in Nigeria even though they are often considered as second class

citizens in those states. The reality of the budget of reality could take a different shape from other previous budgets and improve on its attainability if you could muster a political will and look inward to see the necessity of the exploitation of our God given mineral deposits as a way of enhancing economical dependability of the state thereby creating enabling chance for the absorption of our teeming graduates into the labour force. If you could recall Sir, the state’s reputation was at stake in August last year (2013), when the state Teaching Service Commission announced the recruitment of only 500 Teachers. It was reported that 16,000 unemployed graduates applied for the job each of whom were made to pay the sum of N3400 to a bank account different from the official bank account of the state’s teaching Service commission. Though, you later gave a directive after a heart rendering outcry by concerned citizens that the money should be refunded back but I could not ascertain at the point of penning this letter if the money was truly refunded to the victims despite being unemployed graduates who depended on their parents during their school years and who are still depending on their parents for their upkeep. prophoyigu@yahoo.com

ENGLISH LANGUAGE VILLAGE NECESSARY TO RAISE }p-26&27 STANDARD - DON

NUT URGES SOLDIERS TO GUARD SCHOOLS }p-23

EDUCATION

CAMPUS

I ONCE DROPPED OUT OF SCHOOL – BEST STUDENT

}p-27

NEW TELEGRAPH

newtelegraphonline.com/education

KAYODE OLANREWAJU, EDITOR, EDUCATION

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

Give a girl an education and introduce her properly into the world, and ten to one but she has the means of settling well, without further expense to anybody. - Jane Austen

WEDNESDAY, MARCH 12, 2014

Gani's library: A legacy for humanity SCHOLARSHIP

The multi-million naira library and gallery bequeathed to humanity by the legal icon and human right activist, Late Chief Gani Fawehinmi, has become a resource for knowledge acquisition

Kayode Olanrewaju

ith about 2 million volumes of books, newspaper from the 70s and magazines, well automated: Welcome to Gani Fawehinmi Gallery and Library. It occupies three floors of the Nigerian Law Publications House, located at the high brow Ikeja Business District, Alausa, Ikeja, Lagos. Five years after his death, the library Gani spent his fortune and life to build has today become a legacy for humanity where this generation and those yet unborn will continue to draw knowledge. The library is one of the pet-projects

and legacies of the late legal icon and human right activist, Chief Gani Fawehinmi (SAN), who died on September 25, 2009, bequeathed to humanity. The development of the library, which is today a general library and no longer a Law Library as it used to be, is open to the public. The library which is being run and funded presently by the Gani Fawehinmi Trust Account until it is able to stand on its own and sustain itself, comprises three sections – the Reading section, Gallery and Archive section. The reading section contains books in different spheres of knowledge and learning ranging from philosophy, law, sociology to education, while the archive

contains newspapers and magazines dating back to 1970s till date, which are wellbound and arranged. This section also contains materials such interviews and stories on Gani Fawehinmi from the 70s. Though, still under development, the Gallery, which is to be in three floors, is expected to showcase some of the Late Gani Fawehinmi’s materials such as court materials, prison uniforms, clothing materials and cars he used. Described as one of the richest libraries in the world, in terms of location, serenity, accessibility and available reading and research materials, the library offers the following: conducive reading environment, internet access, current

In fact, Chief Gani Fawehinmi was so studious that he never missed a book launch no matter how placed the book is, he would send some of his staff to buy copies. That is the kind of personality he was

newspapers and magazines, newspapers and magazines dating back to 1970s till date, books on different subject areas, Law books, biographies on Gani Fawehinmi, conference rooms, bookshop and coffee shop. To be eligible to use the library, users must have registered as members with a certain fees charged on annual basis before they can either have access to the different platforms and privileges offered by the library which include the archive, current and old newspapers/magazines, books, internet services, e-mail alerts, newsletters, borrowing right, journals and photocopy materials. For membership registration, which is in categories, the registration fees range from N3,500 to N100,000 and depending on access/benefits of such categories. For institutional/corporate category, the registration is N75,000, and the users will be entitled to access the archive, current newspapers, books, internet facilities, e-mail alerts, newsletters, limited borrowing rights, journals/magazines and photocopy (at a fee). CONTINUED ON PAGE26

22 EDUCATION

Wednesday, March 12, 2014

Elizade varsity to partner media houses on internship Babatope Okeowo AKURE

Prof. Mimiko (right) in handshake with Prof. Fadipe

Don makes case for policydriven research, innovations

OR postgraduate studies to achieve its desired purpose towards human capacity development and socio-economic transformation of the society, there is the need for policy-driven research and innovations in universities. This was the main thrust of the 12th public lecture series of the Adekunle Ajasin University, Akungba-Akoko (AAUA), Ondo State, delivered by Professor Nurudeen Olorun-Nimbe Adedipe, a former university administrator. Entitled: “Postgraduate Studies Reform for Capacity Building, Institutional Strengthening and Quality Assurance in the Nigerian University system,” the guest lecturer however cautioned that Nigerian universities should not fall into the trap of ignoring basic or fundamental research, which according to him, lies in sustainable breakthrough that translate into human well-being. Adedipe, who sought attitudinal change among academics said: “Postgraduate education is the ultimate goal of research for development that delivers human well-being in its codified ramification. Therefore, policy on research governance and management structures should place the Postgraduate School in the forefront as a focal sub-sector.” The don, who recommended that postgraduate coursework should be made more rigorous such that it would include a United Nations operating foreign languages such as French, Arabic, Spanish, noted that this will go a long way to enhance global job

competitiveness. Therefore, he suggested that Postgraduate Studies Supervisory Committee membership should include cross-college/ faculty representatives in the basic and applied areas of the student’s research discipline, while adding that examinations, particularly, for doctorate degree, should be made open at least to the university community. Besides, the former ViceChancellor of the Federal University of Agriculture, Abeokuta (FUNAAB), Ogun State, however, hinted that Deans of the Postgraduate Schools should chair higher degree examinations in order to ensure credibility and maintain standards for quality assurance. Towards effective management of postgraduate schools, Adedipe advocated extension of the tenure of the Deans from the conventional two terms of two years, to two terms of three or four years, while students should carry out research work with strong hand-on bench, studio or archival skill, and departmental seminars should carry course units which shall be graded in terms of attendance and presentation at the cardinal stage of research work. Advising that stakeholders in the administration of universities should fast-track the implementation of the original intention of designating some universities as postgraduate universities, the lecturer listed the university tripod core services to include teaching/training; research and development; and outreach/public service/extension service.

“The tripod responsibility is what makes the university unique; a matter of choice, and not a matter of chance,” Adedipe said, adding that “institutional strengthening of the university system depends on capacity building; capacity building based on quality assurance; quality assurance as a desideratum, must be driven by strategic planning and directive, principles of defined imperatives, monitoring and evaluation.” In his remarks, the ViceChancellor, Professor Femi Mimiko, recalled that the university has constantly brought national and international technocrats and academics within and outside tertiary institutions to interrogate issues of paramount importance not only to policy makers in all sectors of the economy, but also the university system as purveyor of ideas and merchants of knowledge. The Vice-Chancellor, who reiterated that Nigerian universities have not done badly in terms of postgraduate studies and research, however said: “The challenges posed by technology, funding and declining quality of our work ethics, moral tone, and perhaps that of our products, among others, called for the need to take a second look at the nation’s postgraduate programmes.” Mimiko urged key stakeholders in the university system including members of the academic, administrative and technical staff, “to have a deeper, broader and indeed more profound appreciation of their role and place in the scheme of things”.

he Elizade University, a private university located at Ilara-Mokin in Ifedore Local Government Area of Ondo State, has spoken of plans to partner electronic and print media operators in order to expose students in the Mass Communication Department to the best practical experience and orientation. Its Vice-Chancellor, Prof. Valentine Aletor disclosed this during the weeklong seminar of the management of Federal Radio Corporation of Nigeria (FRCN) at the university. The seminar, which its theme was: “Changing Roles of the Media for Sustenance of Nigeria’s Democracy” and tagged: “2014 Radio Nigeria News Summit,” was organised by Ibadan National Station of the FRCN. While commending the university for putting in place radio and television studios of modern broadcasting equipment, the Director of News, Mallam Muhammed Saliu expressed optimism that with such equipment, the university is on the path to produce

great broadcasters in future. He pledged the support of the corporation for the university on its internship programme, praising the institution for introducing modern education with quality facilities and highly revered academics from America, Europe and Africa. Muhammed, who was represented by the National Deputy Director of News, Mr. Gbenga Onayiga, praised the founder of the university, Chief Michael Ade-Ojo for his intervention in the country’s collapsing education sector. Also, the Zonal Director of News, South Station, Alhaji Bola Agboola lauded the management for allowing the use of the university’s facilities for the seminar, and for its love for the members of the fourth estate of the realm. In his remarks, the Deputy Director of News, Mr. Tajudeen Alade, who noted that the university has more than what is required to set up and own its radio broadcasting station, advised the management to apply to the National Broadcasting Commission (NBC) for license to operate its community radio station.

UI lecturer bags global science award Sola Adeyemo IBADAN

woman Scientist and lecturer at the University of Ibadan, Dr Taiwo Olayemi Elufioye, has become a recipient of the 2014 Early Career Women Scientist Award in developing countries. Elufioye of the Department of Pharmacognosy, and the only woman from Africa nominated for the award, received the award for her research on the treatment properties of native Nigerian plants, with particular bias on the effectiveness of different species in treating malaria, wounds, memory loss, leprosy and cancer.

Adewole

No fewer than five early career women Scientists in developing countries, won the 2014 Elvevier Foundation Awards for their researches into medicinal properties of natural compound. Other winners are from Central and South Asia, East and South-East Asia and the Pacific, and the Arab Region. The award, which was jointly sponsored by Elsevier Foundation, The World Academy of Sciences (TWAS), and the organisation for Women in Science for the Developing World (OWSD), took place in Chicago, United States of America. The focus of this year’s award which was the application of Chemistry of nature to pharmaceutical science attracted $5,000 and all expenses paid for attendance at the 2014 AAAS Annual Meeting. Reacting to the award, ViceChancellor of the university, Professor Isaac Adewole, described Dr Olayemi Elufioye as not only a pride to the University of Ibadan, but also to the country and the African continent as a whole.

EDUCATION

Wednesday, March 12, 2014

US, ex-minister, others support coding skills teaching Mojeed Alabi

F the United States of America (U.S.A); former Minister of Foreign Affairs, Odein Ajumogobia; Lagos State Education Commissioners, Mrs. Olayinka Oladunjoye and her Science and Technology counterpart, Mr. Adebiyi Mabadeje, have their way, the teaching of coding skills should be integrate into the school curriculum. They were among stakeholders who canvassed for the teaching of coding skills- the language used in computer programming, in the nation’s schools to enable the kids’ exhibit their innate talents. They unanimously expressed this view during the launching of the Infor-

mation Communication Technology (ICT) Centre, donated to Archbishop Taylor Primary School, Victoria Island, Lagos, by the Oando Foundation in collaboration with the U.S. State Department’s Global Partnership Initiative- LIONS@FRICA, CoderDojo and the Hello World Foundation. The new centre, according to the expert and representative of CoderDojo from the Republic of Ireland, Eugene McDonough, will allow the kids to be able to code, develop websites, applications, programmes, games and in the process catch more fun. Ajumogobia, who is the Chairman of the Board of Trustees of Oando Foundation, said the importance of technology to sound and qualitative education

cannot be underestimated, even as he praised the Foundation’s partners for taking the bull by the horns to expose African pupils to technological education. According to the Foundation’s Director, Tokunboh Durosaro, the initiative was part of the organisation’s resolve to support the country in achieving the Universal Primary Education by 2015, as the second goal of the Millennium Development Goals (MDGs). She said since its establishment in 2011, the Foundation has so far adopted 47 schools in 20 states of the federation and engages in “identifying, adopting, renovating dilapidated public schools and improving the quality of learning nationwide; thereby creating model institutions for children.”

Durosaro said: “This pilot centre being launched today is equipped with desktop computers, a laptop, projector, printer, television and DVD players and is powered by solar energy. The centre will enhance the learning capabilities of pupils, while facilitating their exposure to computer education and other technology as they connect with the rest of the world via the use of the Internet.” The Public Affairs’ Officer of the US Consulate-General Office in Lagos, Ms. Dehab Ghebreab, said the partnership became pertinent since no individual could live independently of others. The Lagos Education Commissioner, who was represented by Mrs. Bello, said the facility would be adequately ustilised and that the progress would be monitored to assess the impacts on the pupils. The school’s headteacher, Mrs. Olusiyan, who expressed gratitude to the donors, pledged the school’s commitment towards the success of the initiative.

NUT urges soldiers to guard schools Ibrahim Abdul YOLA

A L-R: Ms. Dehab Ghebreab, Ms. Tokunboh Durosaro, and Dr. Odein Ajumogobia (SAN) during the ICT Centre Pilot Launch at Archbishop Taylor School, Victoria Island, Lagos, recently.

650 children benefit from scholarship scheme Olushola Ricketts

he hope of some 650 less-privileged children to acquire functional education has brightened as they become beneficiaries of a scholarship scheme instituted by Slum2School Africa, non-governmental organisation. The was disclosed by the founder of the foundation, Otto Orondaam, during its second anniversary celebration tagged; “For The Love of a Child.” As part of the activities marking the anniversary, more than 100 chil-

The children at the Nike Art Gallery

dren from some rural communities in Lagos State were taken on excursion to the National Museum, Onikan; Nike Art Gallery Lekki and Silverbird Galleria Victoria Island in Lagos. According to the founder, the vision of the organisation is to transform the society by empowering less-privileged children to achieve their potentials and providing them opportunity to acquire education “Our mission is to harness resources towards bridging the enrollment gap in schools between orphans/ vulnerable out-of-school children

and children in school, through the provision of scholarships and other psycho-social support programmes,” Orondaam said. He also disclosed that the orgnisation provides mentoring for kids, school kits and, a quarterly monitoring and evaluation programme to evaluate the performance of the beneficiaries of the project. For the children, it was a great opportunity to experience the other side of the world, as the excursion was the first time they would leave their communities to visit such areas. Besides, the excursion offered great opportunity for the volunteers to connect, mentor and as well as have fun with the children. As part of their itinerary for the excursion, the children were shown and taught some historical artifacts in the country at the National Museum, as well as played games with the volunteers. Also at the Silverbird Galleria, a group of the children was able to see LEGO movie while the other set who visited the Nike Art Gallery had the opportunity to view the artistic designs of various signatures, with the help of some artists who conducted the kids round the gallery.

s condemnations continued to trail the recent killings of students of the Federal Government College, Bunu-Yadi inYobe State, teachers under their umbrella group, the Nigeria Union of Teachers (NUT), Adamawa State wing have called on the government to deploy soldiers to guard schools in the area. They condemned the killing of the school children, and described their wonton killing by the Boko Haram sect as “mindless” and “despicable.” “We condemn the killing of the pupils as mindless and despicable and we hereby call on the Federal Government to deploy soldiers to guard the schools,” the union said. While commiserating with the government, parents and teachers of Yobe State over the killing, the state NUT Chairman, Comrade Dauda Maina urged the Federal Government to strengthen security in the country, as well as ensure the protection of children and the entire school system. The union, which decried the killings and said “it is barbaric, inhuman and totally uncalled for,” however, insisted that “there can be no justification for Boko Haram sect to continue to kill and maim innocent children and people. We understand that the bandits also abducted 20 female students, most probably with intent to use them as sex slaves.” While sympathising with those affected by the carnage, the NUT charged members of the Boko Haram sect to embrace dialogue, with a view to sheathing their swords and making a u-turn from their unholy path.

EDUCATION

Wednesday, March 12, 2014

English language village necessary to raise standard - Don Professor Gbenga Ibileye, a lecturer in the Department of English and Literary Studies at the Federal University, Lokoja in Kogi State. The former teacher at the Ahmadu Bello University, Zaria, is also the General Secretary of Intellectuals Promoting Education in Northern Nigeria (IPENS), a body of professors from the 19 northern states, whose major assignment is to eradicate illiteracy in the region. Ibileye speaks with JULIUS TOBA about the group's plan for the educational sector of the region.

Ibileye

Can you give us more background to the group, Intellectuals Promoting Education in Northern Nigeria (IPENS)? I am the General Secretary of IPEN, which stands for Intellectuals Promoting Education in Northern Nigeria. That is, in the 19 northern states. It is a platform established by academic intellectuals in the nineteen states as a result of the peculiarities of the part of the country and their challenges in access to education. We have found that the major problem of development in northern Nigeria is education. We were propelled by that realisation that the moment we are able to solve the problem of education in that region, we would have gone a long way to address most of the challenges in the area. As a group, we believe that some of the challenges being faced by the country today as emanating from Northern Nigeria will soon become a thing of the past. If you talk about poverty, if you talk about security challenges, Boko Haram and all other negatives tendencies coming from the north; we are of the realisation that the moment we make education available to our people, definitely their thinking will change. Their orientation will change, and they will not be easily misled by politicians or moneybags or by the people who want to use them for their selfish interest and to foment trouble. Looking at scope of this group, it is obviously capital intensive. How do you intend to raise fund for its programmes? From the onset, we realised that if we want to change our society, it is not going to come that cheap and easy. So, we knew that this was going to be capital intensive. Of course, monitoring and evaluation of educational development of the region would require that we have to travel to the various part parts of the region. Indeed, this would involve a lot of logistics, but we are determined as individuals, and as members of the or-

ganisation to challenge ourselves on how to do this. We decided to come up with certain reasonable amount of money since we are all professionals, and earn salaries in our working place. So, from that we have started something believing that by the time we stabilise and people of goodwill will see and appreciate the good work we are doing, and they will buy into the vision and support can come. But at this stage, we are not considering the constraint that funds will pose. We are struggling within the limit of what we have to do as much as we can. Now, the result has started coming out because we have started visiting some state governors in the region, advocating the need for them to intervene financially and support the dream. And as we continue, some of these things will become more obvious. How will you describe the response of some northern elements to the group’s activities, especially those you have so far visited? For now, the only state governor the group has met is Jigawa State governor and I want to tell you a lot is happening in the state that the rest of the country does not know. IPENS is now attempting to make what is happening in Jigawa State a model to other states in this region. On our visit in November 2013, to that state we never believed what we saw and that such a thing could happen in a state as poor as Jigawa in terms of education development. First, we realised that the Jigawa State governor, Alhaji Sule Lamido also shares a similar passion like we do in terms of where we think our nation and our region should be education-wise. The governor told us that the development of human capital is essential to the overall development of the society. He is systematically promoting education in that state. Let me give you a typical example; Governor Lamido has identified in each senatorial district of the state what they called

centre of excellence in primary, secondary and tertiary education level. And he is developing all these schools. Apart from this, Jigawa has schools designated as Gifted Children Schools. These are schools that have high quality standard, where students are recruited on merit not minding their religious, financial and tribal backgrounds; as long as he or she lives in the state. When you compare the level of development of education in other part of the country, especially in the South-West, what do you say is responsible for the present state of education in the north? The higher level of the development of education in the South- west than most parts of northern Nigeria is as a result of the tradition of sustained and systematic investment in education in the southern part of the country which is lacking in the north. This was also true of the situation in the north up to a point. Military rule with its attendant negative effects particularly hurt the fortunes of education in the region. The south west has always seen education as a strategic component of its advancement and has always invested in it. For instance, there is no doubting the fact that the free universal education programme which has always been the cardinal principle of education in the south has boosted access to education in that region than in the north. Meanwhile, in terms of economic fortune, children from northern Nigeria need free universal education than those from the south. So, I’ll say that the leaders of the north have not been as committed to the development of education in that region as their southern counterparts. Until this is done, the north will always lag behind the south in education. English is a core subject in the school system, why is failure rate so high in the senior school certificate examinations? I will say that failure in English examination is a universal trend because even in England, experts have also expressed concern about the fortunes of the English language. Within our own context specifically however, I think there is a weak link in the training of English teachers in Nigeria such that the

I think there is a weak link in the training of English teachers in Nigeria...

products of tertiary education are incapable of providing quality instruction at the lower levels. Graduates don’t have adequate exposure to the kind of training that engenders quality and confidence. For instance, most graduates of English language in Nigeria in the last two decades or so have not had the luxury of being taught by native speakers of the language or exposure to laboratory experience. Yet, these are the same people who are expected to train children in the standard use of the language. I think we need to establish an English Language Village in Nigeria, just like we have for French in Badagry and for Nigerian languages at Aba. We can then bring students to have sustained exposure to a native-like environment in the village. We should also deliberately expose our teachers at all levels to overseas training that will bring them in contact with native speakers of the language. I think also that the process of recruitment of teachers of English at the lower levels should be properly regulated such that schools don’t saddle non-graduates of English with the responsibility of teaching the language. This is because in some schools, graduates of religious studies, political science, history and even science disciplines teach English. This is unacceptable. Some states are adopting Chinese Language in the school, what implication does this have on the school system and education development? Ordinarily, one would say that this is a good and welcome development given the strategic importance of China in world affairs and particularly in Africa. Access to Chinese is a guaranteed access to everything that the language represents from its economy to the totality of its culture. Unfortunately, desirable as Chinese is, one would approach the rush of some states for education in the language with a lot of caution given our predilection for policies without adequate preparation for their implementation. You’ll recall that we similarly rushed into the adoption of French as our second official language without due preparation and commitment to its realisation. The result is that the teaching and learning of the language is slow and generally ineffective. One should ask for instance, how many lecturers and students of French language has government sponsored to France or Canada or any other country where French is spoken?

EDUCATION

Wednesday, March 12, 2014

Nigeria, 36 others lose $129bn on quality education - UNESCO l Access to primary education to take 70 years l Africa to spend N26 bn yearly to achieve UPE Kayode Olanrewaju

igeria and 36 other governments of poor countries in Sub-Saharan Africa, South and West Asia and Arab states are losing over $129 billion yearly on poor quality education, despite global efforts at expanding universal access to primary school and providing sound foundation for the junior secondary schools. According to the United Nations Education, Scientific and Cultural Organization (UNESCO) annual education Wike report on Education for All Global Monitoring Report, this amount accounted for 10 per cent of global spending on education yearly. However, the report insisted that Sub-Saharan Africa region, which accounted for the highest figure of out-ofschool children, will require another $26 billion per year to achieve universal primary education. Going by the present slow pace of education development in these regions, the organisation expressed concern that access to primary education for poor and rural African girl-child would take the next 70 years (2086) to be achieved. But it regretted that such estimation was in sharp contrast to expectations from pledges by the governments of various countries, who pledged to achieve the EFA and MDGs targets by 2015. Despite the foregoing, UNESCO urged governments in the region to devote about 20 per cent of their national budgets and six per cent of their gross domestic product to education, if the countries are to achieve the Education For All (EFA) target. “Over 57 million children are not in schools and that at the current rate, it will be 2086 before access is reached for

poor, rural African girls,” the UNESCO said in its report in Addis Ababa, Ethiopia recently. Lamenting the underfunding of education in the regions and the attendant teachers’ supply, Pauline Rose, an Education Specialist and Director of the 2013 Global Monitoring Report on UNESCO’s Programme Education For All, said sub-Saharan Africa would need about 225,000 additional teachers per year to achieve universal primary education by 2015, or nearly 60 per cent of the global total. As a result, she noted that about one in four students in poor countries – representing about 175 million young people in the regions are not able to read a complete sentence. UNESCO attributed the poor state of education development, accounting for the underperforming educational systems to several factors, which ac-

cording to the organisation, include poor teacher training and cutbacks in funding. “More children across the world's poorer countries are illiterate than previously believed,” the UNESCO's education report further explained, saying poor access to education and poorly trained teachers lay at the root of the trend. The report, which also looked at the state of learning among youth (children) between the ages of 15 and 24 - in some 37 countries including Nigeria, argued that roughly 250 million children in the world's poorest nations could not read part or all of a sentence, while less than 75 per cent of school staff members were qualified to teach. In addition to low enrollment rates, the report noted that with 120 million primary school aged children having little or no experience with school, many

of the nations surveyed were losing billions by failing to address education problems. To move the sector forward, the governments are expected to recruit 5.2 million more teachers in order to achieve universal primary education by 2015. UNESCO Director-General, Irina Bokova, said: “Teachers have the future of this generation in their hands, we need 5.2 million teachers to be recruited by 2015, and we need to work harder to support them in providing children with their right to a universal, free and quality education. We must also make sure that there is an explicit commitment to equity in new global education goals set after 2015, with indicators tracking the progress of the marginalized so that no one is left behind.” Presently, of the 61 million primary school age children out-of-school, Nigeria is leading the pack with 10.5 million.

OAU VC, Prof. Tale Omole receiving a cheque from Sen. Shola Adeyeye for the development of Faculty of Science.

Sterling Bank partners Lagos Eko project on VTS

he Lagos Eko Project Volunteer Teachers Scheme (VTS) initiated by the Lagos State Government has received a major boost as Sterling Bank Plc announced its plans to partner with the state government in line with its “One Sterling Education” initiative. The initiative is aimed at improving the standard of education in the state. The Volunteer Teachers Scheme was

Mrs. Oladunjoye, Commissioner

introduced by Lagos State government to address the short-term shortage of teachers especially in core subject areas such as English Language, Mathematics, Sciences and Life Skills. The scheme is structured to bring together dedicated and resourceful professionals from different industries to contribute towards the overall vision of excellence of the Babatunde Fashola’s administration. The alignment of the bank’s “One Sterling Education” initiative with the volunteer teachers scheme will further consolidate the bank’s strategic focus on education and its commitment to youth empowerment and development. Already, about 500 of the bank’s workforce have signed on with the Sterling Volunteers Programme (SVP), under which the first batch of 50 volunteers are currently undergoing training and induction for deployment to various public secondary schools in the state. Special Adviser to the Governor

on the Lagos Eko Project, Ms Ronke Azeez, during the bank’s presentation, explained that the project is the first education intervention in the state with exclusive focus on ‘enhanced learning outcomes’. “This is achieved through direct grant disbursement to schools, teachers’ professional development, standardized students assessment, public sector collaboration for technical education and the Volunteer Teachers Scheme,” she added. Commending Sterling Bank for identifying with the laudable initiative, Ms Azeez said the project has been blessed with highly committed volunteer teachers who have contributed significantly to students learning across the state. She described the Lagos Eko Project as an integral part of the state’s educational reform that has consistently been rated ‘highly satisfactory by the World Bank in achieving its development objectives’.

The Group Head, Strategy & Communications of Sterling Bank, Mr. Shina Atilola, explained that the consistent poor results of students in the Senior School Certificate Examination (SSCE) over the years are a source of concern. She hinted that this has necessitated the involvement of the bank in “this genuine effort by the Lagos State Government under the Lagos Eko Project Volunteers Teachers Scheme to improve the performance of students at various internal and external examinations.” Atilola, who described the Sterling Volunteers as a collection of dedicated and resourceful professionals who are adequately equipped to contribute their quota to the overall excellence in the education sector, expressed optimism that the partnership will go a long way to address the challenges of inadequate teachers and consequently improve students’ performance in the state.

26 EDUCATION | INTERVIEW

District head sensitises pupils against violence

Wednesday, March 12, 2014

Gani's library: A legacy for humanity

Ibrahim Abdul YOLA

fforts have been intensified to curb violence and rid North Eastern states of miscreants as well as nip the activities of the Boko Haram sect, especially in the schools. Some concerned have formed themselves to a School Base Management Committee, who are moving round primary schools in Yola sensitising school children on the need to desist from act capable of breaching peace in the zone. Towards this end, the District Head of Yola and Durbin Adamawa, Alhaji Saad Bawuro has reiterated the commitment of the district towards the entrenchment of peace and stability as a measure of curbing social unrest in the area. He said such effort had become necessary in view of the prevailing social insecurity ravaging the north eastern states, adding that due to the need to curb social unrest, he and other concerned citizens had formed a School Base Management Committee with a view to moving round primary schools to sensitise school children on the need to desist from any act capable of breaching peace in the district. The District Head, who noted that the move was part of efforts and attempts to sensitise younger generations against committing social vices, stressed that "we want to catch them young as this is the best time to inculcate such message into the children as they will surely live with it forever." "For our society to be free of violence, we must start involving the children by teaching them moral lessons and the need to appreciate one another," he said. Bawuro disclosed that the formation of the Committee was borne out of the compelling needs to urgently to look into the various issues bedeviling the education sector in the north eastern states, especially at the grass root level. "Engendering good education will be one of the solutions to the social insecurity because without good education, we can't resolve the issue of the lingering violence" he said.

Five years after his death, the library Gani spent his fortune and life to build has today become a legacy for humanity where this generation and those yet unborn will continue to draw knowledge

Uche CO N T I N U E D F R O M PA G E 2 1

The least fee is charged on undergraduates/students membership, where users pay N3,500 per year and which entitled them to only books and photocopy (at a fee); while for partial access category members pay N8,000 per annum with access to current newspapers, books and photocopy. The other category is the unlimited access membership, where members pay N30,000 per annum with access to the archive, current newspapers, books, internet access, e-mail alert, newsletters, journals/magazines and photocopy (at a fees). The last category is the Gold Membership, which is a five-year duration with a fee of N100,000 with the same access/benefits as Unlimited Access category. Also, for Non-Members, Daily Access fee is between N1,000 and N10,000, depending on the level of research and number of materials to consult, while Weekly Access fee ranges from N10,000 to N30,000, depending on the level of research and number of materials to consult.

There is also a special rate for the VIPs, which is determined on individual basis. According to the Mr. Uche Ekeocha, Chief Librarian, “the genesis of Gani Fawehinmi Gallery and Library is from Chief Gani Fawehinmi and it is captured in his will. It is being operated as stated by Chief in his will and we are not going outside the will.” While disclosing that the library has over 100 registered member-users, he said bases on their registration, users are issued with a unique Identification Cards and registration numbers, with which they could access the library facilities for that particular registration year, usually one year. Like other regular public libraries, the library opens between 9am and 5pm daily, Monday to Friday. Ekeocha, who described the archive as a major selling point of the library, in view of its richness in materials, hinted that the management is looking forth to the next five years, for the library to be self-sustaining and stops go-

ing to the Gani Fawehinmi Trust Account for funds, in line with Chief Gani’s will. He said the books and materials are automated catalogued using the authors or title of the books and materials. He added the money generated from the registration fees is used for the maintenance of the library, saying no archive has the sort of materials available in it. Tracing the genesis of the library, the Chief Librarian said before Chief Gani’s death most of the books and materials had already been moved to the library, and that he was able to see the development of the library to a stage before his death. His words: “When he (Chief Gani) was on his sick bed in the United Kingdom, he was calling repeatedly to know the progress of the library. The Late Chief Gani was very passionate about books. In his life time he was busy gathering books. The library books and materials were from his house in the United Kingdom (UK), Ondo (his home town) and Lagos home respectively, as well as his Law library books were all willed to the library. In fact, Chief Gani Fawehinmi was so studious that he never missed a book launch no matter how “low rated” the book may be, he would send some of his staff to buy cop-

ies. That is the kind of personality he was. He had a big dream for the library.” Registered with the Corporate Affairs Commission (CAC) as a Limited Liability Company, Ekeocha, however, disclosed that with the newspapers and magazines, the library has over two million volumes and collection of books in different spheres of knowledge and learning. Ekeocha, who said the registration fees are not too prohibitive and insisted that the management is not going outside Chief Gani’s will, added that if one wants a material and cannot get it elsewhere if he comes to Gani Fawehinmi Library and Gallery he will get it. “That is a sort of dream Chief had for the library,” he explained, stressing that “if we look at what we are charging it is still ridiculously cheap, and if we consider how much we spend on phone calls per month, we will realise that the fees are not too high.” He said: “Though people see a library as a social service. In fact, can we equate the knowledge and education one has with what and how much is spent? The quality of books and materials available in the library justify the little amount being charged for the maintenance of the library.”

CAMPUS | EDUCATION 27

Wednesday, March 12, 2014

I once dropped out of school – Best student

Sikiru Akinola OAU

feez Aderibigbe, 26, and best graduating student at the third convocation ceremony of the Fountain University, Osogbo, has a story to tell. It is a story of a man who is full of hopes and aspirations, and determination. Born to an average family in Yewa community in Ogun State, Afeez’s brilliance had been noticed right from his basic school days, as revealed by his parents. “And he is not a child that anyone could impose an idea on except he is convinced such decision is good for him,” Afeez told New Telegraph. This virtue of his assertiveness Afeez walked out of the Federal University of Agriculture, FUNAAB, Abeokuta, Ogun State, where he was studying Fishery and Aqua-Cultural Science, because he did not like the course. He said: “I was already in 200 Level in FUNAAB where I was studying Fishery and Aqua-cultural Science and my CGPA was already 4.56 but I didn’t like the course. When we were to resume for 300 Level I had to tell my parents I was no longer interested in the course. They were shocked but when I explained my case to them they agreed with me. But I was faced with the challenge of my other siblings who were equally ripe for university education.” Afeez later applied for a diploma programme at the University of Lagos, UNILAG, Akoka, but he could not enroll after securing admission due to lack of money. He recalled: “I had three other siblings who were about to enter the university, and because I didn’t want my problem to delay my younger ones, I advised my parents to allow them pursue their higher education while I considered other things to do. “Between 2007 and 2010, I went through a tough time and I later enrolled at Government Technical College, Agidingbi, Ikeja, Lagos, where I studied Electrical

Installation. In 2010, one of the proprietors of Fountain University came to NASFAT branch at Owode-Yewa where he distributed some copies of the institution’s pamphlets. After going through it, I told my father about it and he told me to visit the school which I did. I enrolled for a diploma course; we were the first set of diploma students and after completion I was offered admission in the Department of Physics Electronics,” Afeez added. Since he joined the university, he never dreamt of graduating with anything less than First Class, but he was determined to reward his parents’ support with outstanding performance. “When I resumed, the first question I asked myself was how do I make first class? I worked towards it and I thank God for seeing me through. But at the same time I have paid my dues for it. I was always in classroom and I thank God and the assistance of my lecturers and the university management.” It was, therefore, not surprising when he was announced as the best graduating student with Cumulative Grade Point Average of 4.84 points. To achieve the feat, Afeez beat nine other students, who also scored First Class to emerge as the overall best graduating student, out of 150 graduates that were churned out by the university during the ceremony. Amid thunderous ovation, Afeez, who was smiles all the while was the cynosure of all eyes at the event, as parents, colleagues and other well-wishers who had come from far and near to celebrate with their loved ones wanted to catch a glimpse of him. When he was called out for his prize, “Lado..Lado…Lado” his nickname rented the air as he walked to the podium. On what he would like to become, Afeez said he could consider other opportunities, but not a lecturing job. Dignitaries at the ceremony included top government functionaries, leadership of NASFAT, the proprietor of the university, the Vice-Chancellor, Professor Bashiru Ademola Raji, and other members of the management.

UNILAG set to hold fashion week Sikiru Akinola OAU

ll is set for the University of Lagos, UNILAG, Akoka’s second edition of one of the biggest studentfocused fashion shows in the country. It is tagged: “Nigerian Students’ Fashion and Design Week 2014.” The event, which is being organised by BlackNBold Fashion House in collaboration with other fashion outfits including Africa Fashion Week London and Mahogany International, among others, is scheduled to hold between Saturday June 7 and Sunday 8, at the

indoor hall of the university. According to the spokesperson of the organiser, Abiola Orimolade, the event is expected to feature over 48 student and non-student designers across the country, “as well as several other exhibitors within and outside Nigeria, who will be on hand to serve the expected 10,000 audience.” Orimolade said the two-day event will offer opportunities for upcoming fashion experts and creates an avenue to discover new talents, while it also offers opportunities to those who would not ordinarily be able to participate in the major Nigerian Fashion Week.

Aderibigbe

EKSU students’ union elects leaders

fter about four years in the limbo, Ekiti State University (EKSU) Students’ Union has elected new leaders to steer the ship of the union for the next one year. The election, which was described as unprecedented in the annals of the union and university system, was said to be free and fair. At the end of the election, Victor Babatope Ibitola, a Final year student at the Faculty of Agricultural Sciences emerged as the President. He defeated his opponent, Ayobami Adebayo to clinch the position. Students' unionism was banned in the institution about four years ago, by the management following a students' protest. However, the ban was lifted by administration of Professor Oladipo Aina, the Vice-Chancellor, who had been consistently reassuring the students that he is committed to re-instate students' unionism in the university. The ban was lifted in July 2013, just before the prolonged strike by the Academic Staff Union of Universities (ASUU). The students, who embarked on a wild jubilation immediately after the announcement of the election results, hinted that the election process was open and transparent, while aspirants were screened based on their academic records and character dispositions.

During the election, students voted on Faculty basis while the collation of results was done under the watchful eyes of contestants' agents and university’s security personnel. Shortly before election, the Vice-Chancellor, held a meeting with all aspirants, where he urged them to eschew violence and embrace the spirit of good sportsmanship while displaying the character of students of a world class institution. The elected officers include Victor Babatope Ibitola - President; Miss Olubukolami Pius - Vice- President I; Omotayo Agbetuyi - Vice President II; and Olawale Kadri - Secretary General. Others are Ayodele Emmanuel Amodu – Social Director; Opeyemi Adeyanju -Sports Director; Bolaji Sheriff Hammed -Assistant Sports Director; Suara Taofic Olaniyi Treasurer and Miss Iyabo Afolabi- Public Relations Officer. Also on the list are Akeem Saliu, who becomes the Welfare Director; Omotomilola Omolayo - Assistant Secretary General; Miss Afolabi Mercy Elemerie - Assistant Financial Secretary and Busayo Olajide - Financial Secretary, The Dean of Students’ Affairs, Professor Isaac Adanlawo described the election as the best in the history of the institution which, according to him, must be emulated by all universities and institutions in the country.

EDUCATION | CAMPUS

Wednesday, March 12, 2014

Hammed Hamzat UI

lecturer of Linguistics at the University of Ibadan, Prof. Francis Egbokhare has suggested that more leadership positions should be accorded to people living with disabilities. Egbokhare made this call at this year’s edition of the yearly symposium organised by the university’s Special Person’s Club, which took place at the Students’ Union Event Centre. The programme, which was chaired by the Special Adviser to Oyo State Government on Disabilities Matters, Prince Paul Adelabu, focused extensively on issues of limited opportunities for the less-privileged in the society. The guest speaker, whose spoke on: “Humane Environment: A Strategic Plan of the University of Ibadan,” explained how environmental factors contributes to the challenges facing people with special needs, stressing that the vision of the founders and builders of the university not only considered special persons in their plan, but also put their needs among the university’s top priorities. “This university has made available elevators at its library as parts of efforts to make reading and learning easy for special people on campus,” Egbokhare said.

Cross section of members and guests at the event

Special person’s club holds symposium in UI He, therefore, urged the students with special needs to be part of the institution’s students’ union, and participate in sporting activities as a way of promoting fairness, equity and justice. The lecturer urged all state governments to award scholarships to students living with dis-

abilities, noting that society will only thrive when special people are happy and are given opportunities to showcase their talents. In his own contribution, a visually impaired lecturer, Dr. David Akanji advised the university to create more enabling environment for students living

with disabilities to thrive. The President of the club, Raheem Yusuff Olatunji, a sophomore in the Department of Communication and Language Arts, explained that the club exists as a voice for students living with disabilities on the campus, even as he encourage members to

strive hard to achieve academic excellence. Other high points of the event were award presentation to some of the guests including Adelabu, Egbokhare and Dean, Faculty of Arts, Prof. Remi-Raji Oyelade in recognition of their supports to students living with disabilities.

OAU Part 4 Law student hangs self l As fire razes part of students’ union building

Oladipupo

Oluwafemi Ogunjobi and Sikiru Akinola OAU

he Faculty of Law and the entire Obafemi Awolowo University (OAU) was thrown into mourning following the news of the death of a 400 Level undergraduate of the faculty, Oladipupo Marananstha Ige, who committed suicide by hanging himself filtered into the university, last week. Oladipupo, who was in his early 20s, was reported to have left for his hostel - Asherifa, a private hostel located outside the campus on Friday, February 28 and on the following Saturday, at about 9pm, he was said to have sent a text

message to his mother, which read: Mummy by the time you are reading this, I would have been dead.” However, by the time she received her son’s message about 10pm, she immediately alerted Bola Okiji his son’s (Oladipupo) close friend, who unfortunately was said not in Ile-Ife but in Ilesha, about 45 minutes’ drive. Another female student, leaving close to Oladipupo’s room was said to have reportedly rushed to his room but the door was locked. When she peeped through the keyhole she saw Oladipupo’s body hanging on the wall. It was then she screamed to alert other neighbours who later forced the door open. When New Telegraph visited the house none of the residents was ready to comment on the sad development, but one of them who preferred anonymity, said: “Dipo, as he was fondly

called, until his death had been doing some funny things at times. At times, he used to wake up in the middle of the night to wash toilet. Sometimes, he would be banging the door.” Another close friend, Odum Emmanuella said: “His death is just unimaginable. We still played and laughed together on Friday after our lectures before he left for town (his hostel). How he could have done that is something I still found strange.” New Telegraph, however, gathered that Oladipupo had earlier attempted suicide while in 100 Level before he was rescued by those within the vicinity. One of his classmates described Oladipo as a brilliant student who was in Second Cass, Upper Division, wondering what could have prompted him to take his life, because the fear of failure is out of it. But, some of the students

suspected depression, saying he usually show signs of being moody, while he kept to himself most often. Before he committed suicide, Oladipupo was said to have left a note, saying his books should be buried with him and that his parents should not blame his girlfriend because she knew nothing about it. The family was said to have since collected his corpse which had been buried in his hometown of Iree, Osun State. The university’s Vice-Chancellor, Prof. Bamitale Omole and on behalf of the management commiserated with the deceased family, saying the institution was grieved over Dipo’s painful death. Meanwhile, a section of the university’s students' union building was razed down last week allegedly resulting from a spark from the electric cable at the computer room of the

building. But for the quick intervention of the men from the fire service, the whole one-storey building would have been completely destroyed by the inferno. It was some passers-bye that raised the alarm to draw the attention of the occupants to the inferno, after which a call was put through to the emergency number of the fire service. It would be recalled that the Students’ Union Building was sealed about three years ago, exactly on February 22, 2011, and unionism was banned on campus, following students’ protest against introduction of acceptance fee by the university management. “The students' union was also proscribed and since then access to the building has been restricted, and this affected the fire fighters in their operations,” some of the students said.

CAMPUS | EDUCATION 29

Wednesday, March 12, 2014

Frenzy as Ikale students celebrate cultural day Kemi Busari and Afeez Lasisi OAU

he campus of the Obafemi Awolowo University (OAU) was agog at the weekend, when the institution’s chapter of the Federation of Ikale Students Union (FISU), rolled out the drums to celebrate the Ikale Festival and Symposium. The high point of the event was the decoration of sons and daughters of Ikaleland in Ondo State. Chief Superintendent of Police, Olubode Ojajuni stressed the need for the students to remain focused in their education and shun all forms of social vices, saying students of nowadays are more pre-occupied with social media networking to the detriment of their studies. Rather to allow themselves to be buoyed down with social media networking, he enjoined the students to invest more time and energy in their education in order for them to have a better future. In his lecture entitled: “Preservation of Ikale Cultural Antiquities”, Mr. Ajibola Morebise, a legal practitioner, traced the history of Ikale people in areas of music, food, governance and marriage. “Ikale people are vibrant in the entertainment sphere, we have music genres such as Asiko, Biripo, Ijeye and Ikale Juju, as our musical antiquities

.Through them, Ikale was sold to the outside world,” he said. Morebise advised the students to seek ways of preserving these culture and language so as to deploy them in changing the society positively. Earlier, the President of OAU chapter of the Federation, who is also the National Senate President, Iwakun Oyeniyi described that the cultural festival as the first of its kinds, as it was instituted to unite every indigene of Ikaleland. Recounting the achievement of his administration, he noted that “there is the need for the active participation, cooperation and unflinching support of all and sundry in the journey towards the emancipation of the people of Ikale.” Among the awardees are the Late Mrs. Comfort Omoge, who was honoured with the Evergreen Musician award; Dr Olawamide Akinbola, Most Distinguished Medical Doctor award; CSP Olubode Ojajuni, Ikale Distinguished Achiever’s award and Chief Mrs. Victoria Fafoluyi, Ikale Distinguished Patriot’s award Others are Hon. Sheba Abayomi, a former member of the House of Representatives who received the award of ikale Distinguished Achievers’ and Gbenga Johnson, a young talented musician who was decorated with the award as Most Outstanding Young Musician of Ikaleland.

L-R: Head, Counseling Unit, Mr. Victor Mapayi; Miss Adekugbe, Akande, Raji and Ogungbe in a group photograph after the debate.

Ajasin varsity emerges winner of national debate

tudents and management of Adekunle Ajasin University, Akungba-Akoko (AAUA), Ondo State, are still savouring their outstanding performance as the overall winner of the 2013 edition of the Annual Youth Debate for Nigerian Tertiary Institutions. The yearly competition, which is being organised by the Federal Ministry of Education, took place at the Abuja headquarters of the ministry. To qualify for the national finals of the competition,

the university had earlier this year participated in the Southern Zonal Elimination, held at the Adeyemi College of Education, Ondo, where it competed with other tertiary institutions in the state, including the host college and Rufus Giwa Polytechnic, Owo. No fewer than eight tertiary institutions participated in the final stage of the debate, in which the university emerged the overall winner. The theme of this year’s debate was: “Skills Acquisition and Self Employment; A

Panacea for Youth Employment”. Adekunle Ajasin University was represented at the competition by Miss Olajumoke Adekugbe, Oluwaseun Akande and Ismael Raji, who are 400-Level Business Administration undergraduates, as well as Olanrewaju Ogungbe, a 300-Level Computer Science student. Adeyemi College of Education, Ondo and Rufus Giwa Polytechnic, Owo, emerged first and second runners-up respectively.

Ex-VC seeks intervention for varsities’ funding Kemi Busari OAU

igeria universities are confronted with then dearth of required infrastructure, but the only synergy between private and

Faborode

public efforts can ameliorate the menace. These were the submissions of Prof. Michael Faborode, former Vice-Chancellor of Obafemi Awolowo University (OAU) and Secretary-General of the Committee of Vice Chancellors (CVC), in his paper at the second edition of the Faculty of Environmental Design and Management (EDM) guest lecture series, held at the Oduduwa Hall of the institution. In the paper: “Professionals, PPP and Project Management in the Nigerian University System,” Faborode explained the role of the private sector in sustaining and improving infrastructural de-

velopment in the university system. “Apart from the fact that it reduces financial burden, public-private-partnership, otherwise referred to as PPP, enables the public sector to harness the expertise and efficiency of the private sector,” he said. Citing the example of the OAU Students Village, a student residential area built by private firms, the don admonished other universities to learn from the achievement of OAU in that area. His words: “The OAU Students’ Village is a good example of where the university has adopted the classical type of PPP. With the current

student population and attitude of government towards provision of hostel, there is no way the university can accommodate all the students without partnership.” While stating that the public private partnership needs an effective mechanism of project management to make it successful, the Professor of Agricultural Engineering advised stakeholders in the university management to see possibility in the inevitable prospect of PPP. In his remarks, the ViceChancellor, Prof. Bamitale Omole reiterated the importance of public private partnership, saying that the model had been adopted in

the educational sector in the developed countries. He further appealed to the government to create incentives that would significantly encourage the private sector to collaborate adequately with the universities in order to tackle the problem of underfunding in the Nigerian universities. Also, the Dean, Faculty of Environmental Design and Management) said that the purpose of the lecture was to deepen the academic discourse on public-privatepartnership, stressing that despite the opportunities made available by PPP, it has not been fully exploited in the university system.

EDUCATION | CAMPUS

Shun bad behaviour, VC tells fresh students

RESHERS at the Federal University of Technology, Akure (FUTA), have been cautioned to shun acts that could bring dishonor to the name and image of the university, and that they should see the institution as builder of great leaders. The Vice-Chancellor, Professor Adebiyi Daramola gave the warning during the orientation programme organised for the fresh students of the university. Daramola, who expressed delight over the quality of students and products of the university, said the students should count themselves privileged to be part of FUTA’s culture of excellence in character building. The Vice-Chancellor said: “We do not allow cultism and cult-related activities and associations here. We disallow any act that can put the name of the university into disrepute. We disallow examination misconduct, and I want to assure you that you will get all necessary support and enabling environment required to stand out as the best both in the university and after your graduation. FUTA has zerotolerance for anti-social behaviour because it is known for academic excellence and high quality of moral

uprightness. I hope you will desist from all social vices and embark on good acts and strategies that would enhance your image, that of your family and the university.” While stressing that they should be law abiding and “avoid activities that can disrupt their academic calendar for them to graduate at the right time,” he noted that the university has several collaborations with local and foreign universities, which has continued to further its academic influence. He listed some of the partnership to include the Florida Agricultural and Mechanical University (FAMU) in the United States of America, where some students of the university are currently on exchange programme for their First Degree and postgraduate studies, as well as institutions in Germany and Canada. Addressing the students, the Dean, Students’ Affairs Division, Dr. Boniface Kayode Alese reminded them of the need to work hard, even as he said that how they use their time, the type of friends they keep, the type of association they belong will determine the grade they make at the end of their studies.

Cross section of the students during the orientation.

AIG restates commitment to varsity’s security

ssistant Inspector General of Police in charge of Zone II, Mr. David Oluwafemi Omojola, has reassured members of the Adekunle Ajasin University, Akungba-Akoko, Ondo State of adequate security on campus. He disclosed this when he visited the institution to have firsthand information on the security challenges facing the university, especially the abduction of two

expatriates working on the university’s Senate building and the vandalization of the Automated Teller Machines on campus. The AIG and his entourage were received by the Deputy Vice-Chancellor, Professor Rotimi Ajayi. “I want to assure the university that we are equal to the task, and we are able and ready to continue to make sure that lives and properties are secure,” he said.

LECTURERS' FORUM

Wednesday, March 12, 2014

EDUPEACE with Mahfouz Adedimeji

Yobe: The future as collateral damage

hen the late sage and pride of Africa, Nelson Rolihlala Mandela, said, “Education is the most powerful weapon which you can use to change the world”, his thinking was that with education, all things are possible. The profundity of Mandela’s is unassailable as we cannot contemplate development in an atmosphere of ignorance. This is particularly relevant in the African context where there is a lot of poverty, diseases, unemployment, violence and disaster from which we all crave change. It is only through education that levels change and it was with that philosophy of bringing about positive change to the lives of individuals, families and communities that people are known to expend resources on acquiring education. Governments and individuals establish schools with a view to helping young ones and the young at heart to achieve their dreams of a better future. At the Assembly Hall of the Federal Government College, Buni Yadi, Yobe State, the philosophy behind getting education is not lost and its founding fathers decided to inscribe there for everyone to see this slogan: “Realise Your Dream, Get Education”. Responding to that clarion call, students trooped to the school from all over the country. But last Sunday (February 23, 2014), the students of the school, who are part of the future of the country, got their dream stifled as they came under the most brutal attacks masterminded by faceless agents of darkness. In the dead of the night, the devils in human skin swooped upon the school and turned peacefully sleeping children to game. They shot at them randomly, set their hostel ablaze and slaughtered many like fowls. At the end of the massacre, about 60 corpses of the future leaders lit the school compound. The world woke last Monday to the wails of sorrow and agony by their traumatized families. For the crime they knew nothing about, the students suffered violent death. For heading the call to realize their dreams, they got barbequed and slaughtered. Their number was an addition to dozens of pupils that had been killed in recent time by those we are made to believe are just Boko Haram. It is a sad reality of our time in history that after ruining the glories of the past and destroying our collective present, our rulers have started to kill our future which they initially mortgaged. In the vicious encounter between political desperation and pseudo-religious demagoguery, terror is unleashed on the country. The outcome is three d’s: destruction, disaster and death. Unlike the spirit of the national anthem, the labour of our heroes past is now in vain. We are a nation of callous

murderers and wicked destroyers. Our future, our children, are now the collateral damage in the asymmetric war for the conquest of Nigeria’s soul. Where the elephants fight, it is the grass that suffers. Leadership has failed Nigeria and Nigeria has failed her children. Our leaders have failed us! This reminds one of the message being shared in the new media last Friday as Nigerian rulers, past and present, were celebrating the centenary, beaming smiles on television while scores of families were still mourning: “What if Atiku’s family were among the children killed in Adamawa? What if Buhari’s daughter was among those killed in Yobe? What if Obasanjo’s grandson was in the school where our children were massacred? What if Babangida’s mother-in-law was a teacher in any of those schools? What if Tinubu’s cousin was visiting the dormitory where those children were murdered? What if David Mark’s only daughter was among the innocent children murdered? Would these shameless leaders have anything to rejoice over? Would it not be enough reason to postpone this wastage called centenary celebration? We have the right and power to ask GEJ and his cohorts to apologise for their incompetence. This is not about PDP or APC, the Nigerian political class has failed us. Our children no longer matter. Enough is enough!” It is pathetic that schools are no longer safe and the future is in danger. Even in countries where wars are being fought, schools offer refuge for the internally displaces as temporary refugee camps. The innocence of the school system has been defiled with the serial deadly attacks on our students. The list is long and forlorn. After the sporadic attacks in Maiduguri, Bama had been hit. Izge had been destroyed. Damboa had been razed. Konduga has been leveled. Kauri had been sacked. Banki and some other places in Borno State have been witnesses to groans and agonies. Schools rolled in. The madness started in my reckoning with the murder of 42 students in a Yobe secondary school on July 6, 2013. Damaturu, Potiskum, Mamudo have been savagely attacked in Yobe State claiming young lives. On February 25, 2014, it was the turn of another Yobe secondary school to make a harvest of death and disaster. May God comfort the bereaved families and give them the fortitude to bear the losses. May He give our maximum rulers the wisdom to address the situation decisively so that our future, our children, will no longer be collateral damage.

of ding

BUSINESS Wednesday, March 12, 2014

What's news NCC fines operators N6.6bn in seven years Mobile network operators have been fined a total of N6.6billion by the Nigerian Communications Commission in the past seven years primarily due to poor services they rendered to subscribers.

}p-32

Youths decry huge debt, task govt on budget It was an opportunity they never craved for but when it came last week, they made good use of it.

}p-33

Negative perception trails insurance stocks As the equity market continued to explore the green territory, insurance sub-sector of the financial segment of the economy has remained in abysmal trance and less visible in the scheme of things.

}p-34

Fort Oil's burden of brand ambassador When Forte Oil Plc, one of the major petroleum products marketing companies in the country adopted popular singer, Tiwa Savage, as its brand ambassador, it was simply following the usual marketing strategy.

}p-35

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

CHRIS UGWU, Capital Market Editor Abdulwahab Isa, Finance Editor Chuks Onuanyin, Energy Nnamdi Amadi, Reporter

www.newtelegraphonline.com/business

ayodele aminu, Deputy Editor, business

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

Commission in a fix over new revenue formula DILEMMA The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is having challenges with its draft report.

Abdulwahab Isa Abuja

nsuccessful attempts by eggheads at the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to present President Goodluck Ebele Jonathan with draft report on the new revenue formula is a major obstacle slowing the conclusion process for the new revenue formula, New Telegraph has learnt. The Revenue Commission, after years of intense consultations and visits to all nooks and crannies of the country to gather inputs, was able to come up with a draft report for the new revenue formula last December. The draft report, the Commission had said in a statement issued by its Chairman, Public Affairs and Communication Committee, Ambassador Zubairu Dada, last December , would be forwarded to President Goodluck Jonathan in accordance with the provisions of the constitution. The President, he said will then lay the new formula before the National Assembly for necessary legislation. But, barely three months after the draft report was ready; the Revenue Commission led by Elias Mbam, an engineer, is yet to secure audience with the President for a formal presentation of the draft report to be made to him.

WOLE SHADARE, Aviation Editor DELE ALAO, Brands/Marketing Editor

NEW TELEGRAPH

Mixed feelings over Shippersâ&#x20AC;&#x2122; Council's new task}p-39

Mr. Fatai Amoo, Group Head, E-Business, Sterling Bank Plc, Mr. Devendra Puri, Executive Director, Lagos, Sterling Bank Plc and Mr. Richard Oshungboye, Unit Head, Financial Inclusion, E-Business Group, Sterling Bank at the Media Launch of Sterling Bank Agent Banking Scheme in Lagos on Monday.

A Source within presidency confirmed to this newspaper that the President has been very busy lately, not only with state matters but also with subtle campaign for 2015 general elections. He expressed doubt if the report could get the attention of the President - more so when the revenue formula is also an item slated for discussion at the forthcoming political confab. Efforts by our correspondent to get official reactions from Senior Special Assistant on Media (SSA) to the President, Dr. Reuben Abati and chairman, of the through phone and text messages proved abortive. Significant step towards having a new revenue formula was attained last December with the Commission announcing unanimous adoption of a draft report on the proposed new allocation formula. Ambassador Zubairu Dada, Chairman Public Affairs and Communication Committee (PAAC) of the Commission said members of the commis-

sion adopted the draft report following a two week retreat at Tinapa, Cross River State where commissioners and top officers of the agency camped for weeks for intense brainstorming session. Prior to Tinapa camping, the commission had in the past embarked on a tour of the federation, carrying advocacy visits, public hearings and extensive study of all relevant literature and fiscal matters relating to

revenue allocation in an effort to make the final report credible, authentic and generally acceptable to Nigerians. The revenue allocation formula was generally reviewed in 1992 and the current revenue allocation formula was a modification order issued by former President Olusegun Obasanjo in May 2002, which was amended in July 2002 and CONTINUED ON PAGE 32

NSE's Foreign Portfolio Investment rises 49 % Chris Ugwu

he Foreign Portfolio Investment (FPI) transactions on the Nigerian Stock Exchange, which accounted for 48.91 per cent at the end of December 2013, increased marginally to 49.28 per cent at the end of January 2014. In a report obtained from the NSE's website, domestic transactions decreased mar-

ginally from 51.09 per cent to 50.72 per cent over the same period. This represents an overall increase of 27.93 per cent in total transactions, broken down into a 28.89 per cent increase in FPI and a 27.01 per cent increase in domestic transactions. On a monthly basis, The Exchange polls trading figures CONTINUED ON PAGE 32

Rates Dashboard INFLATION RATE

LENDING RATE

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

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

EXCHANGE RATE (Parellel As at Mar. 7) USD . . . . . . . . . . . . . . . . . . . . . . N172 Pounds . . . . . . . . . . . . . . . . . . N285 Euro . . . . . . . . . . . . . . . . . . . . . N235

EXCHANGE RATE (Official As at Mar. 7) USD . . . . . . . . . . . . . . . . . . . . N159.15 Pounds . . . . . . . . . . . . . . . . N266.10 Euro . . . . . . . . . . . . . . . . . . . N223.58

business | NEWS

Sanctity of Truth

Wednesday, March 12, 2014

NCC fines operators N6.6bn in seven years SANCTION Telecom operators sanctioned for poor services. Jonah Iboma

obile network operators have been fined a total of N6.6billion by the Nigerian Communications Commission in the past seven years primarily due to poor services they rendered to subscribers. Investigation by Daily Telegraph showed that imposition of fines on operators by the industry regulator started in 2007 when Globacom was asked the sum of N5 million for embarking on promotional activities without necessary regulatory permit. However, prior to this time, MTN and Celtel were asked to refund N100 to subscribers who were illegally charged this sum (N100) by operators for migration from per minute billing to

per second. Analysis of the sanctions showed that the highest fine was handed down in 2007, when MTN and Celtel were asked to pay a combined sum of N4.7 billion for traffic channel congestion, the primary key performance indicator set by NCC to measure operators’ service quality. However, the fine was not collected by NCC but, rather, the operators were asked to pay subscribers by way of recharging their lines with a fixed sum of airtime value. At that time, the commission ordered MTN to pay N175 to each of its 15,873,000 subscribers, amounting to N2.778 billion, while Celtel was to pay the same sum to 11,098,500 subscribers, totaling N1.942 billion. NCC started imposition of fines on operators after persistent complaints by subscribers over quality of service rendered them over time, especially in 2006 and 2007. This prompted the commission under the leadership of Ernest Ndukwe

Director, Mutual Benefits Assurance Plc, Admiral Festus Bikepere Porbeni (left), presenting key of a brand new car for the ‘Best Marketers of the Year’ to Wami Sandra Chijago, during the Company’s Eastern Region Awards/ Thanksgiving Ceremony held in Port Harcourt.With them is the Group Managing Director, Dr. Akin Ogunbiyi.

to issue letters of warning to operators. In separate letters dated September 19, 2007 and published on NCC's website with the title Notice of Intention to Issue Direction, the commission said it intended to act in accordance to its powers as provided in

Table of fines and dates Year

Fine

Operators Involved

Reasons for Fines

Contravention of pro- NCC

2007

N5m

Glo

2008

N4.7 billion

MTN- N2.778bn

Beneficiary

motional directives Traffic Channel Con- Subscribers as at January

Celtel- N1.942bn 2012

N1.17 billion

2013

N22million

Etisalat- N360m MTNAirtel - N270m Glo -

N360m

gestion

31, 2008

Failure to meet KPIs

NCC

N180m

MTN- 10m

Contravening ban on NCC

Glo-

promotions and lotter-

Airtel- 4m

ies

Etisalat- 6m 2013

N53.8 million

MTN- 29.2m

Contravening its provi- NCC

Glo- N55m

sion on the pre-registra-

Airtel- N8.6m

tion of SIM cards

Etisalat-N5m 2014

N647million

MTN - 185m

Failure to meet KPIs

NCC

Globacom- 277.5m Airtel - 185m TOTAL

N6,597.8billion

Commission in a fix over new revenue formula CONTINUED FROM PAGE 31

January 2004. "The order, which emanated from the Supreme Court judgment of April 5, 2002, was to bring the relevant sections of the subsisting Allocation of Revenue (Federation Account, etc) Act in conformity with the provisions of the 1999 Constitution (as amended) of the Federal Republic of Nigeria. It was, therefore, necessary to review the present revenue allocation formula to reflect chang-

ing realities and the yearnings and aspirations of Nigerians", Ambassador had explained in a statement issued last December. The Commission has repeatedly assured Nigerians that it will provide a fair and equitable revenue formula. But analysts have expressed reservation on the continued relevance of the impending formula in view of the fact the revenue sharing is a major item to be discussed in the coming political confab.

section 53 of the Nigerian Communications Act, 2003. The NCC said if the poor services continued, it would enforce the sanction on the operators as from October 1, 2007. The letters read in part, “The commission is still being inundated with complaints from subscribers on the issue of poor and unacceptable level of quality of service on the networks of mobile services operators in Nigeria including Celtel, Glo and MTN resulting in losses to subscribers. “The commission observes with serious concern that the quality of service in the Nigerian telecoms industry has remained poor in spite of the directions issued to operators with the obvious implication that subscribers continue to suffer an incur losses owing to the poor and deteriorating quality of service.” In a statement by its Secretary, Mr. Felix Adeoye, the NCC stated that Traffic Channel Congestion would be the main parameter to determine network performance.

It said where congestion was between two and five per cent, this would attract a monthly refund of N50; where it was five to 10 per cent, N100; but where a congestion level was above 10 per cent, the refund would be N175 per subscriber. Aside poor services, operators have also had to pay fines for contravention of directives on promotional activities as well as pre-registration of subscriber identity module cards. Although imposition of fines on operators started in 2007, operators had a period of respite between 2009 and 2011, when no fines were issued against any of them. However, NCC resumed sanctioning of operators in 2012 over operators failure to meet KPIs and also contravention of orders on promotions and preregistration of SIM cards. Among the operators, MTN has been the one that has paid the highest amount of sanction, although it remains the Nigerian market leader per cent accounting for about 48 per cent of total number of subscriber lines.

NSE's Foreign Portfolio Investment rises 49 % CONTINUED FROM PAGE 31

from major custodians and market operators on their foreign portfolio investments. In comparison to the same period in 2013, the report noted that there was a significant increase in total FPI by 45.90 per cent, while the total domestic transactions reduced by 12.21 per cent. However, the FPI outflows outpaced inflows, which were the reverse when compared with the same period in 2013. Overall, there was a

9.22 per cent increase in total transactions in comparison to the same period in 2013. According to reports, the highlights of the domestic composition of transactions on the Exchange in January 2014 showed that the institutional composition of the domestic market accounted for 47 per cent, while the retail composition accounted for 53 per cent in the same period. This indicates more active participation by retail investors over their institutional

counterparts in the period. Total FPI transactions, which accounted for 14.8 per cent of total transactions in 2007, consistently increased over the years to 50.8 per cent in 2013 (an increase of 36 per cent over the six-year period). Domestic transactions on the other hand, started at 85.2 per cent in 2007 but reduced significantly to 49.2 per cent of total transactions in 2013 (a sharp decline of 36 per cent in the six-year period).

BUSINESS | MONEY 33

Sanctity of Truth

Wednesday, March 12, 2014

2014 budget: Youths decry huge debt, task govt on budget ON-THE-SPOT Youths unsettle Finance Minister, Dr. Ngozi OkonjoIweala, with probing questions on the budget.

t was an opportunity they never craved for but when it came last week, they made good use of it. Nigerian youths, aged between 18 and 40 for the first time, were given opportunity to air their views on budget processes, including the 2014 N4.643 trillion budget presented by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala in a live, online interactive conversation that lasted three days. Tagged Budget 2014 Jam, the 3-day online interactive conversation between the minister and the youth was put together by the minister, aided by IBM. It was essentially conveyed to afford youth the opportunity to share their thoughts/ideas with the Minister on the 2014 budget and its impact on the development of the economy. Acknowledged globally as the hub and engine for the growth of a given economy, youths in their huge population determines, to an extent, direction of the economy. In their sizeable numbers, comprising corp members, students, unemployed graduates and other categories, they trooped to the Abuja Global Distance Learning Centre, venue for 2014 budget jam. Those who couldn’t make it to the centre either due to distance location participated by sending on-line comments and electronically processed observation. In their various responses and reactions, they did not hide their disdain to misappropriation that had characterised past budgets including the current N4.643 trillion. A particular youth was not just miffed about government handling of the budgets, he took government to cleaners on debt burden. Contributing via on line comment, he was enraged, dissatisfied with the manner government was going about procuring debts - local and external. In a blunt language twitted he derided Nigeria government’s appetite for unrestrained debt procurement, an act he says was a deliberate ploy to set a debt trap for

future generation. He said that monies that could have been invested in infrastructural developments and job creation for the benefit of youths are deployed to unending debt servicing and payment. He made veil reference to the $38 billion Paris Club negotiated and paid during Olusegun Obasanjo’s administration. He expressed concern that Nigeria is steep back in debt trap foreign and local components a few years after it came out of Paris Club debt trap. The Minister could not agree less with the boy’s view. She admitted there were mounting concerns about the rising debts, especially the domestic debt, which has attracted huge budgetary allocation to service. “Nigeria has to watch its domestic debt but right now our debt to GDP ratio is 21 per cent, which is one of the lowest for a country of our profile. In United States and U.K including Japan, their debt to GD is 89 per cent 91 per cent, but the normal standard for our category is between 40 to 50 per cent of our GPD, which means we are in a very comfortable place. If you look at the composition of this debt, 2 per cent of it is external and the rest is domestic. This is because in the past they borrowed on a relative high rate. In 2009 and 2010 due to salary increment, they went to borrow and we should never have done that,” she said. Continuing, she cautions that: “We have to bring our debt down so that debt services don’t eat up a whole big chunk of the revenue.” Unfortunately, for the foreseeable future, it will hover around that because we had already borrowed money in the past and with the interest mounting. But we are working on debt strategy of paying back. Last year, we paid N75 billion for the first time. You know, we are not paying back, we are just rolling over. Our strategy is to get fund pay back so it doesn’t keep mounting in interest. We have opened a sinking fund where we put money, each a small amount, so when it accumulates we pay a chuck back right away.” As CME was battling to give a convincing explanation, a youth corp member had demanded to know why the 2014 budget was full of repetition of a particular item of procurement, adding that such was the usual corruption that goes with budget. The Minister couldn’t but admit the apparent lapses of item repetition as was discovered in the budget.

Okonjo-Iweala

She attributed it to error in the course processing the budget electronically for the first time. She said when the mistake was pointed out by many Nigerians, concerted efforts were made to effect correction. Another probing budget topic is the year-in- year-out high recurrent expenditure vote basically for personnel cost. The youths were curious to know what was being done to cut down on high recurrent expenditure and allocate more votes for capital. She said that conscious attempts are made to increase allocation for capital side but, however, explained that huge wage bills incurred by government to offset overhead cost takes over 70 per cent of the budget. Of N4.643 trillion 2014 budget, recurrent expenditure takes the larger portion of N2.430.66 trillion as against capital expenditure of N1.100.61 trillion. “My strong belief is that the easiest way out is the merging of certain agencies and closing of some. There is no point having agencies that duplicate duties instead of saving monies. We are seeing MDAs in this country where people have done no work for upward of years and they are still being paid. There are places that produced nothing but they have thousand of workers and if you suggest its closing down because there is no production activity you get an outcry. The people from that part of the county will said no and all sort of sentiments are brought in,” she said. She identified repeal of the legisla-

The minister couldn’t but admit the apparent lapses of item repetition as was discovered in the budget.

tion setting up affected MDAs as another legal hurdle. “We have to work with the National Assembly to really convince them of the need to repeal some of these laws. Let us phase out these agencies, those who are not producing anything, there is no point paying them month after month for doing nothing,” said CME. To stave off recurring debate on finding appropriate oil benchmark for the budget, the Minister said that government was in the process of engaging experts to help fashion acceptable benchmark for the budget to avoid recurring heated debate that usually trail adopting acceptable benchmark. “We need it; we really need seeking the benchmark that is not subjected to political interference. We are talking to the National Assembly like what Chile did. They got an independent panel of expert and whatever they come out with, nobody argues or we craft it into law like Ghana did,” she said. An obvious enraged youth, fully prepared for CME, threw probing questions on budget implementation, probing challenging questions that put CME on the spot as the egg-head spearheading government’s economic team. In their torrents, probing questions kept coming from seated audience and on-line comments. Just as CME was beginning to heave a sigh of relief that perhaps probing question may have been exhausted, comment demanding explanation on status of MDAs budgetary allocation cropped up. A seating audience sought explanation on complaint by MDAs of low budgetary allocation at the on-going budget defence at the National Assembly. The Minister’s response turned out an eye opener to the can of worms that was the lot of the revenue generation of MDAs.

BUSINESS | investor

stunted growth Insurance stocks are still in the woods Chris Ugwu

s the equity market continued to explore the green territory, insurance sub-sector of the financial segment of the economy has remained in abysmal trance and less visible in the scheme of things. Unlike other subsectors, the insurance companies rather than appreciating in value have remained relatively stagnant even as a larger percentage of the companies have remained at the nominal prices of 50 kobo at which they were quoted on the market. When companies approach the equities market for listing of their shares, the nominal value quoted is usually 50 kobo as against the actual price they are being sold to the investing public. Insurance stocks that have marginally rose above nominal value include, Mansard Insurance - N2.24; Continental Insurance AN - 1.05, AIICO - 85 kobo, NEM - 80 kobo, GNI - 57 kobo among few others. Since the crash of the nation's capital market in 2008, negative perception has trailed the subsector, which was compounded by inability of about 85 per cent of the companies in the industry to pay dividend to shareholders. In an Index table released by the Nigerian Stock Exchange penultimate Friday, the NSE insurance Index, which has an opening week value of 144.78 basis point, closed the week at a low of 143.28 basis points or a depreciation of 1.04 per cent. Investors in the insurance subsector of the market are lamenting over what they described par value state of insurance share prices. Shareholders’ perspective Speaking against the background of the poor state of investment in the insurance industry, an assemblage of shareholders group, Coalition Shareholders Association of Nigeria, said the investment loss in the industry since the meltdown in 2008 is unquantifiable. They said that rather than shareholders getting succor in the light of present shares appreciation, the reverse has been the case in the insurance subsector. According to the President of the association, Chief Adolphous Wakama, lack of interest in insurance stocks, following the huge meltdown in the market in 2008-2009, have contributed largely to the high value decline. Wakama said that investors' hope has been put in abyss for an earlier recouping of their investment in the sub-sector. However, in their reaction to the state of investment in the industry, operators on the Exchange said that the insurance subsector is not immune against the general economic downtown plaguing many nations of the world. According to Mr. Sunny Nwosu,

Sanctity of Truth

Wednesday, March 12, 2014

Negative perception trails insurance stocks

Oscar Onyema

National Coordinator of Independent Shareholders' Association of Nigeria (ISAN), the subsector was grossly hit because the money raised during their capitalisation had melted with the market. Nwosu noted that the subsector performance has been so poor, adding that after their consolidation, there should have been growth in their income and others. Brokers’ view A senior broker on the condition of anonymity said "what is seen in the market is that insurance companies seem not to be up there, so investors' confidences are really down on it. They are just in the market and they are not doing much to improve on their performance. "It was actually a failure on the part of the regulator to do the thorough work. Some of them should not have come to the market initially; some of them are faced with a lot of management problems.” He noted that in terms of confidence, there have not been any improvements as the sectors were not doing what they are expected to do in other to improve their performance. He said investors ought to be careful while investing in insurance companies. "If you must invest in insurance, invest on insurance that has improved fundamental, in terms of stock management and ensure that their stock management is good enough. Speaking to New Telegraph, the

Aruma Oteh

In terms of confidence, there have not been any improvements as the sectors were not doing what they are expected to do in other to improve their performance Managing Director, Crane Securities Limited, Mr. Mike Eze, said some of the insurance companies were not helping matters as they are most visible among companies that are often sanctioned for breaching post-listing requirements. He linked the inability of the subsectors’ rise above the nominal level to crisis of confidence. He said the few ones that raised high expectation for good results ended up posting negative financial results. "There were high expectations that some of them will bring good results to the market, hence, investors started taking positions on the insurance stocks, but they ended up posting negative results, which now has a spiral effect on other insurance companies, so, investors started dumping their shares," he said. Insurance companies are the worst hit in the capital market in terms of drop in share prices. The reason is that that they are playing second fiddle to the oil and gas as well as the banking stocks.

So, what we now have is that we see volumes being traded, yet it does not result into capital gain in the capital market. Mr. Olatunji Johnson, an independent shareholder said the negative perception of insurance stocks was as a result of the fallout of year-to-date returns by the subsector. "People already made up their mind about the state of the industry. They already feel it is not okay. But that is the thing with perception; you have to work harder to correct it if you are affected. So, for me, I tell people that by the time insurance companies begin to give good results, expectedly, I think the market will begin to discern the true situation in the industry," he said. He explained that what investors are now doing after the stock market meltdown was that they were rather dealing with tested industries rather than to speculate on relatively younger markets, which however, hold promises for the future. Mr. Boniface Okezie , Chairman Progressive Shareholders Association of Nigeria, said the government and its agencies are the ones discouraging investors from taking positions on the insurance stocks. He added that the agencies have not done enough to guarantee safety of investments in the market. Okezie noted that good policies and awareness campaign from the regulators will lower the history of fluctuations in the insurance stocks on the Nigerian Stock Exchange.

BUSINESS | BRANDS & MARKETING 35

Sanctity of Truth

Wednesday, March 12, 2014

Forte Oil’s burden of brand ambassador MISREPRESENTED Nigeria’s Forte Oil faces challenge over its ambassador, Tiwa Savage’s alleged assault of a policeman. Dele Alao

hen Forte Oil Plc, one of the major petroleum products marketing companies in the country adopted popular singer, Tiwa Savage, as its brand ambassador, it was simply following the usual marketing strategy. According to Wikipedia: “Brand ambassador is a marketing term for a person employed by an organisation or company to promote its products or services within the activity known as branding. The brand ambassador is meant to embody the corporate identity in appearance, demeanor, values and ethics.” “The key element of brand ambassadors lies in their ability to use promotional strategies that will strengthen the customer-product/service relationship and influence a large audience to buy and consume more. Predominantly, a brand ambassador is known as a positive spokesperson appointed as an internal or external agent to boost product/service sales and create brand awareness,” it added. There is a long list of brand ambassadors all over the world. Just last

Tiwa Savage

week, popular website, yahoo, adopted Jose Mourinho as its ambassador. In Nigeria for instance, Hafeez Oyetoro, aka Saka, until recently when he ‘ported’ to MTN, was the face of Etisalat, Whizkid (Pepsi), Don Jazzy (Loya) and a host of others. And recently, Forte Oil adopted Tiwa Savage as its ambassador. “It is definitely an honour and a pleasure for me to be part of this incredible company. I think the first thing that comes to mind whenever you step into a Forte Oil petrol station, even their of-

FG partners lottery firm on N100m, cars, others

s part of Nigeria’s 100 years celebration, the Federal Government has entered into a partnership with a lottery firm, Secured Electronic Technology Plc, to organise a centenary lottery promotion to reward Nigerians for their love for the country. Secretary to the Government of the Federation (SGF), Pius Anyim, who was represented at the event by his Special Assistant Media, Sam Onwuobasi, is initiated by the government as a poverty alleviating and wealth creating program. Onwuobasi, who expressed the support of the Federal Government for the project noted that the it was purely private sector– driven. He also said that the proceeds from the lottery promo will be channeled towards the centenary projects planned across the country. Also speaking at the event, the Managing Director of SET Plc, Dr. Odunlami Kola-Daisi, said that a N100 million pack pot will be won by a Nigerian at the grand draw in

June this year. Also on offer according to him are Hyundai Accent cars, Prado jeep, tricycles otherwise called Centenary tricycles, LED Tv sets, daily cash prizes, generating sets, chest freezers, among others. Winners will emerge daily through electronic draws which will be aired on NTA. The lottery which began on Monday with a draw will last 90 days. Kola-Daisi assured that the lottery promotion would be transparent and according to international standards. To participate, players are enjoined to text or sms to a special code at a cost of N100 per sms on MTN, Airtel, Glo, Etisalat and Visafone networks. Kola-Daisi also said that the lottery promo has already received the endorsement of the Nigerian Communication Commission (NCC), who assured that there would not be poor quality of service on the part of network providers while the promo lasted.

fices you can definitely tell that there is a difference in terms of the quality of service you get; the cleanliness of every single gas station,” Savage said. However, Savage, a few days after her public presentation as Forte Oil brand ambassador, had an encounter with the Police. It was reports that Savage was allegedly arrested by policemen and taken to the Victoria Island Police Division, Lagos, for assaulting and ultimately embarrassing a man of the force. This development, according to ex-

DISTINCT Hollandia Yoghurt flaunts health consciouness proposition

n the highly competitive Nigerian corporate environment, several brands claim to be proudly Nigerian. Unfortunately, many of the brands making this assertion do not invest in aggressive marketing campaigns that would help them to bond strongly enough with their stakeholders. This explains why most of these brands have been unable to convert their stakeholders to adorers who desire such brands and feel a fanatical kinship with them. Specifically, in the health and nutritional segment of the Fast Moving Consumer Goods (FMCG) sector, most of the operators have simply imported equipment to engage in mechanised farming. Then, they cel-

perts, does not augur well for the brand Savage represents. Some brand ambassadors have paid dearly for portraying the brands they represent in bad light. Sprinter, Ben Johnson, lost his 1988 Olympic gold medal and a $2.8 million deal with Italian sportswear maker, Diadora, after a positive dope test. Popular pugilist, Mike ‘Iron’ Tyson lost millions when Pepsi ended its endorsement deal with Tyson after his wife said he abused her. The giant soft drink also relieved popular Basketballer, Magic Johnson, of the endorsement deals when he announced that he contracted HIV in 1991. Ronaldinho lost the multi-billion dollar Coca-Cola deal when he was caught drinking Pepsi. Nutella and McDonald’s dropped their endorsement deals with Kobe Bryant when the basketball star was caught up in a sexual assault case. Efforts to speak with the Forte Oil spokesperson, Odion Aleobua, on Savage did not yield positive result as at press time. Enquiries made to him through SMS on whether the company will still keep its relationship with Savage, were also not responded to. He said that he was not Odion but Chinedu, when a call was put through his mobile phone collected from two different colleagues. Will Savage’s relationship with Forte Oil go the way of Ben Johnson, Mike Tyson among others?

Hollandia Yoghurt promotes health consciousness ebrate nativity and occasionally make token efforts to improve technology. To a large extent, they have failed to understand the core value of brand positioning in the form of constantly evolving products and packaging through market research and consumer surveys. Clearly bucking the trend with its array of refreshing fruit drinks, fruit juices and dairy products is Nigeria’s leading FMCG company, Chi Limited. For instance, Chi’s Hollandia Yoghurt brand, claim to have outperformed its competitors by building relationships with its stakeholders, through effective communication and by providing experiences that reinforce the relationship building process. Admirers of the brand are said to be pledging loyalty to the House of Chi, particularly its Hollandia

Yoghurt brand, which is alleged to be the complete food drink for children, young adults and the elderly. Seizing initiative in a segment that seemingly takes the consumer for granted, the youthful brand is presently rewarding its loyal customers through the Hollandia Yoghurt Refresh ‘n’ Win promotion which rewards participants with various mouthwatering prizes worth millions in Naira.

Vipul Beri, MD, Chi Ltd.

36 BUSINESS | BRANDS & MARKETING

Indomie deepens market share with new pack

ndomie Instant Noodles, has added yet another 'first' to its long list of laurels by breaking the market with its revolutionary 450 grams Chicken Family Pack, a landmark achievement in global noodle circles. The new variant is tied to the brand's efforts in catering for the growing needs of the family and easing the hassle associated with purchasing multiple packs for meals on the home front. The Chief Executive Officer, Dufil Prima Foods Plc, manufacturer of the product, Mr. Deepak Singhal, said: "As far as the global culinary landscape is concerned, Indomie has recorded a major breakthrough with the launch of our new Family Pack. We deemed it necessary to say a big thank you to the family unit which has been largely responsible for our growing sales volume over the years, and the 450 gram pack was the best way we felt we could achieve that." Singhal, who said that the new Indomie variant was not only sizable but packed with enough spice designed to suit the taste buds of parents and kiddies alike, added that it was pocket-friendly and would therefore be easily ac-

cessible to varying consumer classes in the market. “This, no doubt, is a feat no other noodles company in the world can lay claim to, as Dufil Prima Foods can now be said to have effectively taken center stage in the global culinary landscape. After all, the new 450g will cater for not just the taste but also the pockets of all consumer classes in the market,” he said. He added: "With all this and more, it is no surprise that consumers view Indomie as the noodles brand of choice which constantly prioritises and guarantees their satisfaction at all times, as captured in its evolving strategies over the years.” As the new 450g, Indomie pack makes its way into the noodles market, it is joining a wide array of successful variants previously launched by Dufil Prima Foods, including Indomie Chicken flavour, Onion Chicken flavour, Pepper Chicken and Oriental Fried Noodles. PR/Events Manager, Dufil Prima Foods Plc, Mr. Tope Ashiwaju, said: "These variants have done incredibly well in the market, laying claim to a strong level of acceptance among consumers in Nigeria's burgeoning noodles industry.”

Sanctity of Truth

Wednesday, March 12, 2014

PR practice, business still fledging –The Quadrant boss YELLOW CARD The practice and business of public relations need to be improved upon in Nigeria. Dele Alao

iving an assessment of the development of public relations practice and business in the country, managing director, The Quadrant Company, Bolaji Okusaga, has said both are still fledging. Okusaga, who took over the mantle of leadership of the company, the first full-fledged

PR agency in the country, about seven years ago, added that the market itself has not really understood the unique role of PR to the extent that the market still see PR as advertising. “The practice and business of public relations in the country is still very much fledging yet. What I mean is that it is still pretty much in infancy, the practice and of course by extension, the business,” he said. He added: “And the reasons are not far-fetched. What is the receptiveness of the market to the practice? A lot of them still imagine that public relations is advertising. There is confusion here. And for as long as

that confusion persists, what we do in practice will continue to lag behind much more older professions like Law, like Medicine.” Okusaga, noted that PR as a business is profitable, but can be better. He lamented that the law setting up Nigerian Institute of Public Relations (NIPR) concentrated so much on issuing certificates rather than the practice. The Quadrant boss, is however optimistic that the newly elected president of NIPR, Rotimi Oladele, would bring his wealth of experience to bear on both the practice and the business of the profession.

FleishmanHillard closes Kiev office F leishmanHillard, The Quadrant Company’s foreign partner, has temporarily closed its office in Kiev, Ukraine, due to political unrest in the country. The agency, which opened its Ukraine office in a joint venture with Vanguard PR last November, is shutting down the Kiev office for the

time being as a precautionary measure. It will continue to monitor the situation closely, said John Saunders, regional president of EMEA at the agency. "A first priority for us is to ensure that our own people are safe, and that means right now we don't have people on the ground in Kiev," he said.

L-R: Charles Oputa (Alias Charlie Boy), Chairman, Governing Board, Consumer Protection Council (CPC); Air Commodore (Rtd) Ishaku gang Mwadkoh; Minister of Communication Technology, Mrs. Omobola Johnson; Director-General, (CPC), Mrs. Dupe Atoki and Chairman, Senate Committee on Commerce, Senator Odion Ugbesia, at the launch of a Compendium of the Rights of Telecom Subscribers in Nigeria by CPC in Abuja.

Media Perspectives gets new helmsman

n a bid to continue its leadership and winning streak in the Nigeria’s media planning and buying landscape, leading media specialist agency, Media Perspectives, has announced the appointment of Dr. Tayo Oyedeji, as its Managing Director with effect from January 2014. Dr. Oyedeji, who holds Ph.D. in Media Management from the University of Missouri-Columbia, USA and an MBA in General Management from Oxford

University, UK, replaces Emeka Okeke, the pioneer Managing Director of the media specialist shop. He is expected to provide strategic leadership and oversee the day-to-day operations of the agency. Oyedeji brings 16 years of corporate and academic work experience spanning media advertising, management consulting, and financial services in Africa, Europe, and North America to his new position.

Until his recent appointment, Oyedeji was the General Manager/Chief Operating Officer at Credit Direct Limited, one of Nigeria’s top financial services company with annual turnover in excess of N15 billion. He was responsible for managing the operations of about 1,500 employees in 50 branches across 24 states of the federation. Before his foray into financial services, Oyedeji was the

director of business development at MediaReach OMD where he pioneered the digital media business and was the head of the Etisalat account service team. He also worked in the media department of Ackermann McQueen, a full service agency in Oklahoma City, USA. He has worked for blue-chip clients like MTN, Intel, HP, Visa, Virgin, Etisalat, Guinness, Reckitt Benckiser, and GlaxoSmithKline.

He was an Assistant Professor of Media Management and Economics at the University of Georgia, USA, for three years and is an accomplished media scholar whose research on branding and brand equity management has been published in reputable journals like the American Behavioural Scientists, The International Journal on Media Management, and The Journal of Media Business Studies.

BUSINESS | MARITIME 37

Sanctity of Truth

Wednesday, March 12, 2014

Customs snubs agents’ request FAILURE Customs agents have failed to meet government deadline on cargo clearance.

he Nigeria Customs Service (NCS) has turned down the request of the customs clearing agents seeking extension of the provisional release of consignments. Its Comptroller-General, Abdullahi Inde Dikko, said that the service had given them enough grace by extending the deadline twice. Dikko said that since the agents had not been making honest declaration, government has directed that the scheme be stopped. He said: “You are not making correct assessment and everybody is doing what they like, so government said I should tell you that there is no extension. Government realised that people are short-changing it. So why should it continue with the extension?”

Opposition Freight forwarders to approach National Assembly over a bill. Bayo Akomolafe

he new commercial port regulator, the Nigerian Shippers’ Council, has been directed by the Minister of Transport, Senator Idris Umar, to work out the modality for the collection of transaction fees from customs clearing agents. The fee is expected to be collected by the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN). But the Association of Nigerian Licensed Customs Agents (ANLCA) said that the fee must be distributed among the licensed and corporate members of CRFFN. Speaking at a crucial National Executive Committee (NECOM) meeting at the ANLCA National Secretariat, its President, Prince Olayiwola Shittu, insisted that the association would not shift its earlier ground on the subject. He argued that the disbursement of the fee must not cut across all CRFFN members since it is only licensed com-

Dikko said that the provisional release window was created by NCS in December last year to clear over 99,000 unprocessed Risk Assessment Report (RAR) following the takeover of Destination Inspection regime from the service providers. The customs boss stressed that at the expiration of its

January 31 deadline, the customs management, last month, granted an extension of two weeks due to demand from agents and to enable it clear the backlog of over 4,000 applications pending under the RAR platform. But customs clearing agents lamented that the Pre-Arrival Assessment Report (PAAR) was

not coming out as expected. According to a clearing agent, Comrade Ikechukwu Okafor, PAAR which should be six hours was taking one month to process. He feared that shipping companies and terminal operators would continue to charge them for the delays and incompetence of the customs.

Fourth from Left – Chief Michael Ajayi, General Manager Administration representing the Managing Director, Nigerian Ports Authority, Habib Abdullahi, with other dignitaries at the flag-off of the cervical cancer awareness programme held at the authority’s head office in Lagos.

Minister orders Shippers’ Council to rule on transaction fees panies that would be involved in the payment. Shittu said: “ANLCA agrees to the collection of transaction fees. It is a welcomed decision that associations must be funded from the transaction fees. “The distributive method of the funding should be based on the level of payment by operators through the association they belong. We cannot generate money for those that are

not licensed.” The president noted that in order to protect the interest of ANLCA, the funding of the transaction fee would form the foundation of ANLCA’s collaboration with the CRFFN. “We are waiting for the Shippers’ Council to come out with the modalities before an emergency National Executive Council (NEC) meeting is conveyed where ANLCA will give

its position. The association, however, said it would approach the National Assembly for a repeal of the CRFFN Act in order to remove ANLCA from the general categorisation of freight forwarders in the port. The association argued that this is not the usual practice in other countries where custom brokers were not regulated by anybody.

Overcapacity threatens shipping sector recovery –Survey

equests for new vessels by ship owners and investors is threatening the recovery in the global shipping sector, a survey by an international law firm, Norton Rose Fulbright, has revealed. The firm discovered that 40 per cent of those polled cited overcapacity as the biggest threat to recovery in the industry. It was revealed that ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into its biggest crisis since the 1930s. The survey noted that in recent months, prospects have brightened as the sector absorbs the tonnage as well more positive signs for world trade, adding that investors, including private equity players, were eyeing prospects with a wave of new ship ordering taking place. According to Harry Theochari, global head of transport at the firm, “there is a real disconnect between those in the shipping sector who believe that the purchase of additional assets is the most beneficial investment for their business and those worried about overcapacity. “While optimism is growing in the shipping sector, a further imbalance in supply and demand risks throwing the current fragile recovery off course.” In the oil products tanker sector, 233 Medium-Range (MR) tankers were ordered in 2013, the biggest spike in orders since 2009.

Govt suspends new tariff on used vehicles T

he Federal Government has suspended the implementation of the new tariff on imported second-hand vehicles into Nigeria, following a protest at the port. The Ministry of Finance had issued a circular to the Comptroller General of Customs that implementation of the new tariff on imported second hand vehicle should commence on March 1, 2014. The circular was signed by Deputy Comptroller General in charge of Tariff and Trade, Aliu G. T. and directed

to ACGs, Zonal Coordinators, command Controllers, and heads of units. The National President of the Association of Nigerian Licensed Customs Agents (ANLCA), Mr. Olayiwola Shittu, in a message to customs clearing agents, said that the Federal Government had acceded to their demend by putting the implementation on hold. Going by the new tariff structure, duties and levies payable on imported new and used vehicles as well as imported new tyres rose from 20 per

cent to 70 per cent. Already, government had released a two-page document in which it clarified that a fully built car would attract a duty of 35 per cent and a levy of another 35 per cent of the cost of the vehicle. The document also explained that the Nigeria Customs Service “shall use the value of a new vehicle depreciated by 10 per cent per annum, implying 10 years period of cars and by seven per cent per annum implying 15-year period for commercial vehicles.

In either case, depreciation should never be below 30 per cent of the value of the new vehicle equivalent.” But the customs agents said that the levy on used vehicles was economically destructive. The Secretary General of the association, Mr. Chucks Kanikwu, who led some protesters to Tincan Island, said that a Toyota Camry 2000 model which was being cleared with a duty payment of between N100,000 and N105,000 before the introduction of the tariff now costs over N300,000.

38 BUSINESS | MARITIME

Sanctity of Truth

Wednesday, March 12, 2014

Customs agents, importers groan over poor port service Port operators are complaining about the bottleneck being created by incessant server failure. They said that the anticipated six hours cargo clearance introduced by the Nigeria Customs Service (NCS) under the Pre-Arrival Assessment Report (PAAR) scheme has not been working, BAYO AKOMOLAFE reports.

hen the Pre Arrival Assessment Report (PAAR) was introduced mid last year, there were commendations and jubilation by port users. But in the last three months, importers and customs agents operating at the nations’ seaports have been complaining about the harrowing experience caused by system failure in the port sector. They said that shipping lines and terminal operators were benefiting from the poor server by slamming various charges on consignments pending in their terminals. According to them, the state of customs server was not good for trade facilitation in

the country, Adding that it was crippling their businesses. The stakeholders concluded that the inefficient server would not make the six-hour cargo clearance work as envisioned. According to a clearing agent, Mrs. Juli Ogboru, “the teething problem hindering the success of PAAR is the constant break down of the system. The network which works twice in a week is not good to achieve the six hours cargo clearance and so I don’t know how the PAAR will succeed without the system working. If the system is perfect, we will not have any problem with the PAAR.” She said that the solution to

the problem is for customs to have an independent server. Also, the Chairman of National Association of Government Approved Freight Forwarders (NAGAFF), Port and Terminal Multi-services Limited (PTML) Terminal Chapter, Mr. Cosmos Ndimkora, said that the system failure had become a regular occurrence, noting that agents experienced it towards the end of every month. But his counterpart at the Apapa Port chapter, Mr. Fred Ajuzie, has divergent opinion, saying that the failure of the server was largely due to the volume of documents processed daily. He said: “We observe that

in the evenings, the server will be working well, but in the afternoon when everywhere is loaded, it will not work. Even if it is not good in other areas, Apapa should be working well because it is the premier port. The Lagos Chamber of Commerce and Industry (LCCI) also said that the long delays in the release of cargo at the Lagos Ports following the introduction of PAAR were affecting their businesses. Its president, Mr. Remi Bello, explained that the new arrangement managed by the NCS was fraught with challenges. He noted that PAAR, which was programmed to be issued within six hours now take weeks. He decried the new dispensation. Bello said that the delay in processing the document had dire consequences for importers and manufacturers in areas such as the high interest charges on funds used to finance the imports and the delay experienced in the deliv-

ery of raw materials to various factories which disrupts production time lines. Other associated problems are the inability to meet contractual time-lines by logistics providers and the high premium charges by shipping lines on Nigeria-bound vessels because of expectations of delay in the discharge of cargo. He added that the situation had become increasingly unbearable for importers with its attendant negative outcomes for the economy. When the Nigeria Customs Service took over the Destination Inspection (DI) scheme in December 2013 from concessionaires, it introduced the PAAR. Also it unveiled international trade portal called Nigeria Trade Hub for importers and exporters for easy trade facilitation. The Nigeria trade hub is an online one-stop shop for all kinds of information needed by importers, including a first time importer on all kinds of goods.

Cargo expected this week at Lagos port

Kota Nabil Singapore discharging cargo at Apapa port.

Terminal

Ship

ENL APMT APMT APMT APMT ABTL ABTL

Pacific ACF Hajin Santos JPO Leo Santos Felicita Ute Oltinann Manas Ionian Eagle

Tonnage Lagos port 16,760tons 610 units 332 units 250 units 600 units 9,800 tons 44,000tons

cargo Generalcargo Containers Containers Containers Containers Base oil Fertiliszer

Shipping institute seeks elevation to varsity status Collapse Lack of maritime university led to the collapse of Nigeria National Shipping Line.

he Certified Institute of Shipping (CIS) has urged the Federal Government to elevate it to a university of maritime technology. It noted that lack of maritime transport and shipping

university was the major reason for the collapse of Nigeria National Shipping Line (NNSL). Rector of the institute, Dr. Alex Okwuashi, while delivering a paper tagged: “The Need to make CIS University of Maritime Transport Management and Technology, Lagos,” at the 14th convocation and matriculation ceremony of the institute in Lagos at the weekend, said the institute had secured finance, landed assets, leadership and corpo-

rate governance platform on which to leverage in building and developing a strategic university of maritime transport management and technology over the next five years. He added: “The institute has renewed its corporate purpose, statement of vision, mission, objectives, tactical plans and strategy as well as its goals and corporate values which affects its ambition to be a self-sustainable, accessible, effective tertiary/professional education provider that would

deliver competitive advantage and benefits to individual professionals in Nigeria and elsewhere.” The rector said that the lacuna in Nigeria spurred the establishment of the institute. Okwuashi stressed: “This lacuna in Nigeria spurred the establishment of the institute 14 years ago to fill the yawning gap in manpower and infrastructure development created by the absence of shipping curriculum in our tertiary

institutions. “Research has shown the absence of this strategic education for a country like Nigeria which generates chunk of her foreign exchange from abundance of the sea, shipping of oil and other articles of trade.” He said that the absence of maritime agencies at the convocation ceremony showed that government did not attach seriousness to the operations of private maritime institutions in the country.

BUSINESS | MARITIME

Sanctity of Truth

Wednesday, March 12, 2014

Mixed feelings over Shippers’ Council's new task Senior Special Assistant to the President on Maritime Services, Leke Oyewole and other government officials in the transport sector will meet this week to brainstorm on how to support Nigerian shippers’ Council new role of a commercial regulator in the port sector. Already, there have been mixed feelings among the stakeholders, BAYO AKOMOLAFE reports.

he battle to regulate the port sector by the Nigeria Shippers’ Council started in 2008. But a few days ago, the council won the battle when President Goodluck Jonathan gave approval to it to assume the role of ports economic regulator pending the passage of the National Transport Commission (NTC) bill. The council was established in 1978 by decree 13 NSC Act Cap. N133 LFN 2004 to protect the interests of Nigerian shippers. But in the new dispensation, the council will be saddled with the responsibility of monitoring and enforcing standard of service delivery, ensure stability, accessibility and adequacy of services. Other responsibilities include provision of guidelines on tariffs by setting minimum and maximum levels in order to guard against arbitrariness. The council will also have power to reduce high cost of doing business and prevent inflationary effect on the economy, encourage competition and guard against abuse of monopoly or dominant market position, establish accessible and modern dispute resolution mechanisms, coordinate inter-modal transportation and promote free market entry and exit. In addition, the commercial activities of all operators, such as terminal operators, shipping companies, importers, exporters and customs clearing agents, truck operators, among others, would be regulated by the council. These roles as assigned by the Federal Government prompted the Permanent Secretary of the Federal Ministry of Transport (FMOT), Mr. Nebolisa Emordi, last week, to meet with representatives of the Nigeria Customs Service (NCS), the Federal Ministry of Finance, Bureau of Public Enterprises (BPE), Nigerian Ports Authority (NPA) and other agencies under the FMOT on how to support the council. But a maritime lawyer, Emeka Akabogu, informed that while he supports the appointment of the NSC as port regulator, the council lacks statutory backing for the role and may not be able to apply sanctions. He said sanction was an essential ingredient of effective regulation in the port industry. Although, he said the council’s new role was a welcome development but the lawyer feared that the council might not be able to sanction any terminal operator, service provider or consumer of port services. Akabogu was of the opinion that

Umar

Dele

the primary essence of the economic regulator lays in its ability in terms of sanction. He stressed that there would be a challenge enforcing sanctions in the absence of a statutory backing. The lawyer declared: “My thinking is that since the intention is to get statutory backing but in the interim to generally put in place broad frame works for the regulatory functions which is expected of an economic regulator; I think it is a step in the right direction. He advised NSC to proceed by laying the foundation for implementation of its new mandate pending the time it would have statutory backing to sanction. However, the Chairman of the Port Consultative Council, Otunba Kunle Folarin, said taht the council has a mandate by law to play the role of regulator. According to him, the council would ensure competitiveness in the system. He stressed: “It is the only government institution that performs a similar function as it is in the draft bill of National Transport Commission. The bill includes licensing the strength of the sector and making sure we have enough ethics and obedience. So, I believe that the Nigerian Shippers Council (NSC) should be able to provide the manpower

and expertise and be able to live up to the expectation of government. “One of the most relevant of its roles is to protect the shipper and also protecting the Nigerian economy because they are the custodian of freight regulation. So with the mandate to protect the shippers, the mandate to protect the Nigerian freight administration and also the mandate, by extension, to ensure that Nigeria’s maritime domain is competitive and given the antecedents of these mandates, particularly that it is backed by law, I believe that Nigeria Shippers’ Council is in the position to serve as commercial regulator.” Before now, the Senate Committee on Marine Transport has stressed the need for an economic regulator to check arbitrary shipping charges the importers pay to shipping companies and terminal operators. Its Chairman, Mrs. Zainab Kure, explained that the regulator would help in controlling private operators whose exclusiveness had translated into high cost of doing business at the port despite the concession programme the Federal Government embarked on to achieve a cost-effective port. Eight years after the port sector was concessioned, the Executive Secretary/

It is the only government institution that performs a similar function as it is in the draft bill of National Transport Commission. The bill includes licensing the strength of the sector and making sure we have enough ethics and obedience.

CEO of the NSC, Hassan Bello, a lawyer who confirmed his council’s new role explained that the appointment was an interim measure pending the passage of the National Transport Commission (NTC) bill. It is, however, not clear if Shippers’ Council, which was set up originally to protect the interest of importers and exporters, will retain the original role conferred on it by law. The Federal Transportation Ministry started the review of the draft of a new National Transport Policy which provides for the transformation of NSC to the commission when the council, under Captain Adamu Biu, its former executive secretary, made inputs into the National Transport Bill. A committee was set up by the Federal Ministry of Transportation to look into how the NSC’s Act could be amended. It was revealed that the committee came up with a draft bill that would allow Nigerian Shippers Council to perform its present functions as well as the powers to sanction erring parties who fail to honour the laws of international trade. The council, it was noted, anchored the bill, in which it indicated interest to be transformed into a regulator in line with the Bureau of Public Enterprises thinking in the New National Transport Commission Bill. In its input , NSC said to have recommended that statutes such as the Merchant Shipping Act, currently under review, be given accelerated attention. It also explained that the bilateral aspect that affects several agreements, commitment and participation in transport modes, within the sub-region as exemplified by the Union of African Shippers Councils (UASC), Maritime Organisation of West and Central African State (MOWCA) and International Maritime Organisation (IMO), made it mandatory that wider research and consultation with those constituencies would not only be appropriate but useful in arriving at a conclusion that would midwife a formidable transport policy. The Council noted that under a concession regime, based on the landlord system, port tariffs should be structured within the criteria which would be jointly negotiated with terminal operators by the NPA and service users or cargo owners from an entire market regime operated by the terminal companies but within the economic capability of the nation.

40 POLITICS

Sanctity of Truth

Wednesday, March 12, 2014

Budget 2014: Okonjo-Iweala’s running battle with lawmakers tee on Finance. But as if in a tit for tat, Okonjo-Iweala also caused her response to be published online where the whole world could access it.

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

Committee on Finance. The day was December 19, 2013 and the meeting looked like one of those numerous summons until the Chairman, House Committee on Finance, Hon. Abdulmumin Jibrin announced that the essence of the summon was to engage the minister on various issues surrounding the economy. Jibrin unveiled a set of 50 questions which he wanted Okonjo-Iweala to respond to immediately. But the minister pleaded that she was not feeling fine and would not be able to address the issues that day. The lawmakers insisted that they needed answers to the questions and suggested that since she was indisposed, she should take the questions as a home work to be submitted in two weeks. The first 10 questions were: 1. What should you consider as the major economic achievements of this government in the 2013 fiscal year and why? 2. You have been credited with many announcements regarding Nigeria’s economy as one of the fastest growing economies in Africa. If the economy is one of the fast growing economies, what is exactly growing the economy? What role does government play in the said economic growth, especially given that as high as 80 per cent of the country’s total annual budget spending still goes into recurrent expenditure? 3. Since your arrival as Minister of Finance in 2011, you have publicly announced the need to reduce the recurrent expenditure so that more money would be made available to capital spending which is critical to growing and diversifying the country’s economy. How far has government succeeded in making these necessary cuts; and where exactly have these cuts been made in this effort to reduce recurrent expenditure? 4. You are known to be celebrating a single-digit GDP growth. But speaking recently at a breakfast dialogue with some members of the organised private sector in Lagos, organised by the Nigerian Economic Summit Group (NESG), you were quoted as saying: “We are growing, but not creating enough jobs. That is a very big challenge…We need to grow faster. I think it needs to grow at least nine to 10 per cent to drive job growth the way we want.” Don’t you agree that a good finance minister managing an economy like ours should be celebrating a GDP growth as high as 20 per cent annually? Why is it that our economy cannot grow beyond a single digit? How many jobs are being created as a result of these said growths? In which sectors of the economy are these jobs created? If in private sector, what contributions is government making to further assist these private sector firms? 5. In the presence of Nigeria’s huge infrastructure deficit, why is it that the country’s debt-to-GDP at about 19 per cent in 2012 remains one of the lowest in the world when compared to nations already with world-class infrastructure

Okonjo-Iweala

Jubrin

and industrial economies such as America’s 105 per cent, Brazil’s 65.49 per cent, India’s 67.60 per cent, and South Africa’s 40.9 per cent? 6. Since facts don’t lie, have you any disagreements with the September 4, 2013 Global Competitiveness Report of the World Economic Forum for 2013-2014, which ranked Nigeria 120th out of 148 countries ranked in the Global Competitiveness Index, including being ranked far behind some African countries such as Mauritius 45th, South Africa 53rd, and Kenya 96th? 7. “For the first time in Nigeria’s 53rd year history, we have successfully privatised the electric power industry,” so said the President at a recent meeting in London with some foreign investors. As Minister of Finance, should you agree that the recent privatisation of the country’s power infrastructure is worth celebrating as a major economic achievement in 2013, when in reality there is little or nothing to show as an improvement in the country power supply? Also why our rush to wholesale privatisation of the power sector when countries like South Africa, generating as high as 42,000MW still have their power sector mostly in public hands? 8. What was your reaction to the November 12, 2013 statement credited to the World Bank Country Director for Nigeria, Marie-Francoise Marie-Nelly, who said that over 100 million Nigerians are today living in absolute destitution, representing an unheard-of 8.33 per cent of the world’s total number of people living in destitution? 9. Nigerians are increasingly perplexed that these days nothing happens without government borrowing. And for most Nigerians, it is frightening how those managing the economy are just dragging us into excessively unproductive debts. More worrisome is the fact that every effort is being made to hide the details of the country’s debt stock from Nigerians. Where are the facts that the country’s current high rate of bor-

rowing is productive, let alone have the ability to be repaid without having to resort to more borrowings? 10. Is prudence in our borrowing simply reduction in borrowing or simply constructive borrowing with government putting necessary measures in place to ensure that domestic debt profile is properly supervised and utilised by curbing corruption. Like an afterthought, Okonjo-Iweala decided to brave the odds by offering to answer the questions right there and then. But it was no use any longer. The committee had made up its mind to leave it with her as home work. Immediately, an altercation ensued and some subtle show of power worsened the situation. The answers Although the two weeks duration for the submission of answers to the 50 questions elapsed on January 2, 2014, the minister asked for more time to answer the questions as some of them were, in her own words “very weighty”. In a bid to mount pressure on her and elicit an early response, the House Committee on Finance had the 50 questions published in major newspapers. This effectively generated a lot of debate. When her response finally came, it was in a voluminous pack of 102 pages of text laced with tables, pie and bar charts as illustrations. It was duly sent to the House Commit-

What is wrong in a committee seeking to know certain things from a minister whom it oversights? There is virtually nothing wrong and we are fully behind the committee because it is part of our oversight responsibilities

The backlash This infuriated the lawmakers and the Committee on Finance, quickly summoned her to clarify not only the answers she gave to the 50 puzzles but the mode of delivering the message. In a letter dated January 31, 2014 and signed by Jibrin, the lawmakers conveyed their anger, dissatisfaction and disappointment on the matter. The invitation letter demanded further clarifications on 40 answers to the earlier questions and asked the minister to appear before it on February 20 to give her oral response. The letter read in part: “Your response to the 50 questions we raised to ascertain the true state of our economy dated January 15, 2014 was received and carefully analysed by the Committee. “Having gone through your responses, the Committee noted that some questions were either not answered, partially answered, out rightly ignored or completely misunderstood. “The Committee noted glaring missing gaps in the responses, absence of supporting proofs to assertions and lack of relevant documents to back up the presentation as is the practice in any legislative oversight or investigation. “Many data and statistics provided were inconsistent with subsequent information provided while answering other questions. Also noted were the wide ranging comparison you made with other advanced and developing countries while responding to some questions but failed to apply the same in some cases that obviously require such approach. In some instances, you abruptly referred the Committee to relevant agencies for clarification. “The Committee is surprised that because of its conviction that if all the questions raised are beyond the competence of the Minister of Finance, it is certainly not beyond the competence of the Coordinating Minister for the Economy to the extent of information you must have in your possession unless you say otherwise. “In view of the above and ahead of the investigative hearing on the state of the economy, the Committee is obliged to forward to you additional observations and requests to be submitted to the Committee not later than February 20, 2014.” Side attractions While the House Committee was tackling the Finance Minister on the 50 questions and answers, the House in plenary also entertained a motion criticising the government over the sum of N572 billion allegedly earmarked to service N7.1 trillion domestic debt in the 2014 Budget. Soon, indications emerged again that Okonjo-Iweala had been invited to a rescheduled public hearing slated for March 3-6, 2014. C O N T I N U E D O N PA G E 4 2

INTERVIEW 41

Sanctity of Truth

Wednesday, March 12, 2014

CHUKWU DAVID looks at why the Senate tends to have better relationship with the executive arm than the House of Representatives.

Reasons Presidency, Senate relationship cordial

ickering between the executive and the legislature is not new to this democracy. In the states, it is not very pronounced. Most analysts have come to agree that in the states, the legislative assemblies are mere appendages of the executive. The state governors are in firm control of the activities of the assemblies. So, there is a ‘gagged harmony’ between the executive and the legislature at the state level. In some states where assembly leaderships attempted to assert the independence of the parliament by resisting control from the Government House, the governors of such states did not hesitate to spear-head the impeachment and removal of the officers involved. This explains why speakers of some state assemblies were removed from office right from the inception of this democracy. The Obasanjo experience At the national level, although the National Assembly and the executive have been like cats and dogs since this democracy came into existence in 1999, the executive has not been able to totally subjugate the federal parliament to its whims and caprices. But it is important to note that from 1999 to date, no session of the National Assembly has ever enjoyed uninterrupted harmonious relationship with the executive. This was initially blamed on the influence of the Presidency in the emergence of the leaders of the two chambers of the apex legislative arm. Under the eight-year reign of Chief Olusegun Obasanjo, the Senate suffered a lot of instability in its leadership. From 1999 to 2007, the Senate had five presidents due to frequent impeachment of the presiding officers. But in the House, they had three speakers. Only one of them, Salisu Buhari was forced to resign on allegation of certificate forgery. But generally, the two chambers had very rough and intense acrimonious relationship with the Presidency because Obasanjo was seen to be determined to make the nation’s highest legislative institution a puppet of the executive. The parliamentarians were always accusing Obasanjo of undue influence on the National Assembly. They also accused him of several constitutional breaches. Under Umar Ghali Na’Abba as Speaker of the House, Obasanjo was threatened with impeachment as a means of curtailing his perceived excesses. The threat really jolted him and put him on his toes within the period. On the other hand, Obasanjo’s concerted efforts to remove Na’Abba from office proved abortive due to the ethnic politics that played out in the House that time. The northern legislators in the House, who were in the majority saw Obasanjo’s running battle with Na’Abba as an attempt by the Presi-

Jonathan

Mark

You know that there has been frosty relationship between the House and the Presidency. And it is not unconnected with the way our leadership emerged, which of course you know did not go down well with the party

Tambuwal

dent of Southern origin to rubbish their son. So, they resolved to defend their own at all cost, irrespective of the propriety or otherwise of his actions. In the Senate, where an Igbo man, by the zoning arrangement of the PDP-led government presided, Obasanjo was able to succeed because the Igbos, being republican in nature, did not care about ethnic undertone of whatever Obasanjo was doing to the exalted number three office. In fact, immediately the person occupying the office of the Senate President began to have problem with Obasanjo, many Igbo senators always lined up to contest for his replacement. That was why the erudite Chuba Okadigbo, after a dogged resistance to Obasanjo’s obvious impeachment plan, eventually got entrapped in the presidential snare, leading to his removal from office. The 7th Assembly experience In this 7th Assembly however, it has been noticed that, despite that the two chambers usually disagree with the Presidency on certain issues, the Senate, in most cases easily allows for a rapprochement, which facilitates easy resolution

of conflicts and engenders harmony between the two. But the House does not easily resolve its differences with the executive arm, particularly the Presidency. In the course of an inquiry into the reasons for this gap in relationship between the Presidency and the National Assembly, a number of theories were thrown up. It is imperative to state here that, for vested political interests, some of the lawmakers contacted to express their views on the subject matter pleaded that they should not be quoted, while others declined to speak, saying that they would not want to get involved in such controversy. The few who spoke to New Telegraph without fear or favour, felt that they were under obligation to express their views on issues that would help move the nation forward. Emergence of leadership The first theory focuses on the way the leadership of each of the two chambers of the National Assembly emerged. Those who are of this school assert that, while the Senate leadership emerged through the backing of the Presidency and the leadership of the ruling Peoples Democratic Party (PDP), the leadership

of the House emerged out of rebellion to the choice of the Presidency and the PDP’s zoning arrangement in the 2011 election year. The PDP had zoned the office of Speaker to the South-West, with Rep. Muraina Ajibola from Oyo State as the preferred candidate. However, after much disagreement and horse trading, the party dropped Muraina and chose Mulikat Akande-Adeola, also from Oyo State to contest as Speaker. But a group of PDP members in the House, in collusion with the opposition parties, who considered themselves as progressives, defied party discipline and supremacy, and elected Aminu Waziri Tambuwal and Emeka Ihedioha as Speaker and Deputy Speaker respectively. This recalcitrance did not go down well with the Presidency and the PDP till date, resulting in a seeming permanent frosty relationship between the House and the Presidency on one hand and the PDP on the other hand. Consequently, the leadership of the House appears to have resolved never to bow to any overture of the Presidency that tends to undermine its independence. Supporting this theory is the Chairman, Senate Committee on Rules and Business, Senator Ita Enang, who said: “Sometimes, it depends on the leadership. Again sometimes, leadership is dependent on followership. You remember the House is not possible to function the way the Senate does, because in the legislature, most times things are seen from the eyes of a particular political party. And when you consider how the leadership of the House of Representatives emerged, that it was a coalition of the minority parties and some members of the majority party that brought them up, and so, the Speaker and the leadership are almost always bound to allow and work towards the minority, expressing the way they feel. “And what the minority party and minority government always feel is anything that is capable of embarrassing the government in power, to make the government lose some credibility in the eyes of the public so that they may take advantage of that in contesting the next election or mid-term election. So, that is the character of what has been playing out in the House of Representatives. “The coalition of the minority parties picking some aggrieved members of the majority party, and forming majority and always using that to shape the opinion and things that happen on the floor of the House. Therefore, you will not expect the House to be in the same shooting level with the Senate. “Moreover, there are more matters that are invested in the Senate like C O N T I N U E D O N PA G E 4 4

42 POLITICS

Sanctity of Truth

Wednesday, March 12, 2014

Okonjo-Iweala’s running battle with lawmakers C O N T I N U E D F R O M PA G E 4 0

The minister has also been invited by the House Committee on Pensions over the alleged diversion of N29 billion from the Police Pension Fund. In all these, it appears that some lawmakers, in the National Assembly, particularly the House of Representatives, are not happy with Okonjo- Iweala and have not hidden their feelings. Some analysts believe that the peculiar mode of the attacks on the Finance Minister this year may not be unconnected with her breaking the tradition by laying the budget instead of the President. Many of the opposition lawmakers had been angry with President Jonathan and were waiting to vent their anger when he comes to lay the budget. Apparently, what the aggrieved lawmakers have done is to throw several spanners in the works to distract the chamber from considering the 2014 budget passing it early enough. Some say that what has been happening is part of the filibustering which the All Progressives Congress (APC) launched late last year in protest over the political crisis that plagued Rivers State. Chairman, House Committee on Media and Public Affairs, Hon. Zakary Mohammed said the House remains fully behind the move by the Committee on Finance to seek answers to the 50 questions. On speculation that the leadership of the House was getting embarrassed by the prolonged grilling of the Finance Minister, Mohammed dismissed it as baseless, insisting that the process was in order. “Every committee of the House is an extension of the House and you have not seen us in plenary or outside plenary disown the exercise. What is wrong in a committee seeking to know certain things from a minister whom it oversights? There is virtually nothing wrong and we are fully behind the committee because it is part of our oversight responsibilities,” he said. Superior reasoning seems to be prevailing with the suspension of plenary two weeks ago to enable the legislators concentrate on the budget defence by the Ministries Departments and Agencies (MDAs). It was also gathered that the leadership of the House had prevailed on the House Committee on Finance to also put on hold its omnibus public hearing on the state of the economy pending the passage of the budget. As it is now, it appears that we are experiencing a ceasefire in the running battle between the minister and the lawmakers. It is hoped that both parties would cease the antagonism and find a common ground upon which to cooperate in the best interest of Nigeria.

Mimiko

Late Speaker Adesina

Emiola

Speaker: Zoning splits Ondo Assembly The death of Speaker, Ondo State House of Assembly, Rt. Hon. Samuel Ajayi Adesina, penultimate Thursday has led to a struggle among the lawmakers for a successor with zoning card being played. Babatope Okeowo writes on the battle for the speakership

he seven days mourning period declared by the Ondo State House of Assembly for its speaker, Rt. Hon. Samuel Ajayi Adesina ended last week Thursday, paving way for the election of a new Speaker of the 26-member Assembly. Since he was incapacitated by the sickness that eventually claimed his life, Adesina’s deputy, Hon. Dare Francis Emiola held forth in the Assembly for about six months. Although the burial plan for the departed Speaker has not been announced by the family, the government or the Assembly, the question agitating the minds of the people of the state is who fill the vacuum created by the death of the Speaker. The thinking in the political circle is that since the deputy speaker also qualifies for the position of the speaker, he should automatically step in without creating any confusion in the polity. Some of the qualifications to becoming a speaker, according to the House rule, are that you must have been elected into the Assembly more than once, your party must have majority in the Assembly and the position must be zoned to your senatorial district. Emiola is a two-term member from Akoko Southwest constituency. He was elected on the platform of Labour Party (LP), which had 25 out of 26 members in the Assembly and the governor, Dr. Olusegun Mimiko is not from his senatorial district. The argument of pro-Emiola members is that since he has demonstrated the ability to lead the Assembly without rocking the boat, he should be allowed to continue with his role as the Speaker and another deputy elected to assist him in the running of the affairs of the Assembly. His supporters cited the dispute between some members of the Assembly and the executive arm during the budget presen-

tation as example. At the time, majority of the members had wanted to frustrate the presentation of the budget by the governor. It took the intervention of Emiola to bring about eight members into the floor of the Assembly to form a quorum before the governor could present the budget on December 31, 2013. However, the zoning arrangement of the ruling LP does not favour Emiola. The deceased Speaker is from Odigbo state constituency in the South Senatorial District while Emiola is from the North Senatorial District. By the arrangement of the LP, the governor is from Ondo Central, his deputy, Alhaji Ali Olanusi is from Supare in Akoko Southwest local government in the North Senatorial District while the Speaker and Secretary to the State Government (SSG) positions are zoned to Ondo South. It must be noted that the Chief of Staff and Head of Service are from Ondo Central. The calculation is that if Emiola retains the position of Speaker, the deputy speakership automatically goes to Ondo South. But many politicians of south senatorial stock are of the view that since the position of the Speaker is zoned to them and they have qualified people to fill the vacant position, they should allow the zoning arrangement to remain. Although all legislators from the South Senatorial District are qualified for the position of Speaker, two legislators by experience and ranking are more qualified than others. They are Prince Oyebo Aladetan, a two-term member from Ilaje state constituency and Hon. Victor Akinwe from Odigbo constituency. Akinwe had served as Deputy Speaker in the first legislative Assembly between 1999 and 2003 while Aladetan was elected under the platform of Peoples Democratic Party (PDP) and defected to LP after the exit of PDP’s government. As expected, the jostling for the position

of Speaker is strictly between Emiola who wants to become the Speaker and legislators from the South who are of the view that their zone should produce the speaker since the party had zoned it to them. A member of the Assembly who spoke with New Telegraph said the legislators rebuffed the suggestion by Governor Mimiko that Emiola should be addressed as acting Speaker. According to them, the positions in the Assembly are meant for all members irrespective of zones and ranking. The members said since there is no constitutional provision for the position of Acting Speaker when the Speaker dies, Emiola should remain as Deputy Speaker and should not be addressed as such. Despite the brouhaha, the leadership of the ruling LP has kept mute over who fills the vacant position of the Speaker. But the anti-zoning arrangement in the Assembly are of the view that when a former Speaker, Hon. Taofeek Olawale Abdusalam and his deputy, Mayowa Akinfolarin were impeached by the members shortly after Mimiko assumed office as governor of the state, people outside their zones were made to replace them. According to them, Abdusalam who is from the North Senatorial District was replaced with the late Adesina from South while Emiola from North replaced Akinfolarin from South. The argument is that once you are elected into the Assembly, you are qualified to be elected by your colleagues into any of the principal offices irrespective of the zoning arrangement by the political party in power. If feelers from the Assembly are anything to go by, the position of the Speaker would be an herculean task for Emiola who is pushing the necessary buttons at the Assembly, the party and the executive to become the Speaker. And legislators from the South especially Akinwe, who contested with late Adesina, would not let the opportunity to become the Speaker this time slip by. Whether or not Emiola succeeds his erstwhile boss would depend largely on the disposition of Governor Mimiko who is the leader of LP in the state.

POLITICS 43

Sanctity of Truth

Wednesday, March 12, 2014

PDP’ll reclaim Ekiti, says Ex-Speaker Hon. Femi Bamisile is a former Speaker, Ekiti State House of Assembly and current Deputy Chairman of the Peoples Democratic Party (PDP), Ekiti State chapter. In this interview with LATEEF IBRAHIM and ONWUKA NZESHI, he speaks on the preparations of the PDP for the June 21, 2014 governorship election in the state and why South-West governors should begin to pack their loads. Excerpts: How is your party preparing for the forthcoming gubernatorial election in Ekiti State? Well, from the party’s end, there is a clear mandate from the national leadership of the party that anybody who wants to run for the governorship election in the state or be considered an aspirant, should first take the bold step of going to pay N11million to the party at Abuja. But before that, I can tell you that the party paraded 26 aspirants including myself and 14 of us came together and had a meeting with the President on January 4, 2014. During our deliberations, the President informed us that he would prefer the party to go the way of consensus in choosing its candidate to save cost and avoid the rancour usually associated with primaries. He advised that we should avoid the over kill of spending so much money on primaries. But as we are now and what really baffles me is that some of us are not thinking in the same way. At the last count, at least eleven persons have made the payment and collected the forms. The importance of putting a high price tag to the forms was to weed out as many pretenders as possible, but it seems the strategy has not worked. You were for consensus but 11 aspirants purchased forms. Don’t you think the consensus option has been abandoned? I have this belief that at the end of the day, we might end up doing the primaries because if a man has committed N11 million, I don’t know how you can now really play around with consensus. But let’s leave that to the major players and to the national leadership of the party that first moved the idea. I strongly believe that we should follow the consensus process to the letter because if we go for a primary, I will not lie to you, we would still be picking wounds before the election day on June 21 and this will not augur well for our party. Former governor Ayo Fayose has kicked against the consensus option for the election. Do you still think that this consensus will ever work? We are just members in a big family. The big family is the umbrella- PDP and your views will count if they are acceptable to others. Unfortunately, if you are talking about all the aspirants, Fayose is a minority on whether we should adopt the consensus option or go for primaries. The only principal player that is the determinant factor in this matter is the President. The President should take the onus on himself to midwife the process that will determine the consensus arrangement because we have a very short time. When you talk about consensus option are you also taking into consideration the agitation for the ticket to be zoned to the

Bamisile

Ekiti 2014 For Fayemi and his cohorts in the SouthWest, all I need to tell them is to get ready to pack their loads and leave government because new sheriffs are in town to govern the South-West

southern senatorial district? I am from the Ekiti South Senatorial District where we are agitating for the governorship seat to come to us for fairness, equity and justice. But at this particular situation we have found ourselves, I don’t see how that will work. I told you that I was part of the aspirants and I deliberately organised a meeting of all the aspirants from our zone about a week ago in Abuja. The meeting broke down because everybody had inordinate ambition. Nobody was prepared to give in for the other person. Difficult situations like this needs drastic actions. As much as I believe in the “southern agenda” if the southerners are not giving way for themselves, so be it. There is no part of the constitution that says a governor should come from a particular

zone, but if people from the North and Central zones conceded it to us at a certain point in time, what we needed was to go and bring a single candidate from the South. Twelve of us sat together but everybody jettisoned the option of allowing one person to take the opportunity. Already, six people from the South have picked the form while the remaining five are from other zones. If we go to the primaries with that kind of arrangement, who is more favoured to win the ticket? The votes from the South would be split amongst six candidates while the other zones will have bloc votes. What are the chances of the PDP in the Ekiti governorship race? Eighty five per cent of the electorate in Ekiti State are PDP and we are geared to work. We have done our basic home work; we have a structure and we have

developed a different way of campaigning now. It is no longer the old method whereby the basic canvassers wait until it is a day to the election before they start their work. No. We have people who are working for the party over the last six months. They have been moving from door to door, house to house, meeting with the electorate intimating them on how to make their votes count and how they can have a say in who governs them. The days of carting away ballot boxes are gone. The days of multiple registration have gone away. When it comes to election proper, we are ready but the problem we might encounter is this in-fighting. If we don’t resolve our differences, that might eat deep into our votes because in that situation the electorate might not even trust us. Recently, two APC governors, Rauf Aregbesola of Osun and Kayode Fayemi of Ekiti told New Telegraph that if PDP hopes to recapture the South-West, it must be prepared to match on blood. What is your reaction to this threat? I want to tell you clearly, the world is watching. Ekiti election is a staggered election and not part of the compound elections coming up in 2015. This 2014 election will showcase what would happen in 2015. The world will be there to see who is the violent one and who is there for peace. I am telling you clearly that the election is all about human beings voting. It is not about using monkeys or robots to come and vote here. If you look at the papers in the past two weeks, Fayemi has been complaining that the PDP wants to rig scientifically. I don’t understand what he means by rigging scientifically. He is the one who is on the turf, he is the one who is leading the state and if anyone is to be accused of rigging he should be the one. We are not in office; we don’t even have the financial wherewithal to bribe anybody. We are just believing on the human strength that we have. So, for Fayemi and his cohorts in the South-West, all I need to tell them is to get ready to pack their loads and leave government because new sheriffs are in town to govern the South-West. Are you confident that INEC is ready for the forthcoming gubernatorial election in Ekiti? Yes. I think that from the little time we spent with them when they came to the state three weeks ago, they are ready. I listened carefully to all their presentations and from what I gathered, I would want to say that INEC is about 80 per cent ready for the election in Ekiti State. They know the importance of this election and even its nexus with the 2015 presidential election. They know that the world is watching because they said it clearly and carefully. They were painstaking and meticulous in analysing to us, what the elections would look like, who would be allowed to vote and what would happen in the event of voters who may have moved out of the initial places where they were registered.

44 POLITICS

Sanctity of Truth

Wednesday, March 12, 2014

Establishing National Roads Board, Roads Fund Phillip Nyam

ur bill of the week is “an act to provide for the management, control, operation and maintenance of roads; to establish the National Roads Board and Roads Fund and the Federal Roads Authority; to introduce private sector participation in the operation and development of roads; to provide for the regulation of road services and infrastructure; to repeal the Federal Emergency Road Management Agency and for other matters connected therewith”

Gwani

BILL OF

WEEK

THE

Content The objective of the bill, sponsored by Hon. Gideon Lucas Gwani is to establish the National Roads Board which shall be responsible for the management of the Road Fund. The Road Fund will be established to finance routine and periodic maintenance of national roads. It will also see to the establishment of the Federal Roads Authority as well as the National Transport Commission as a regulator. Precisely, this bill seeks to repeal the Federal Roads Maintenance Agency (FERMA) and allow these agencies to promote the sustainable development and operation of the road sector and facilitate the development of competitive markets and the promotion of enabling environment for the private sector participation in the financing, maintenance and improvement of roads in Nigeria. The deplorable state of roads across

the country caused Gwani to draft this bill. The need to ensure the provision of roads and transportation facilities for the development and well-being of Nigerians pushed the lawmaker into sponsoring the bill. The total road network in Nigeria is said to be about 200,000km of federal, state and local road of which only about 50,000km are paved. Only 80 per cent of federal roads in Nigeria are partially paved, disallowing proper coverage of the nation’s over 900,000km landmass. The essence of the bill, therefore, is to create a Road Fund, whose sources of revenue shall be fuel levy received from petroleum products as may be determined from time to time by the President or as required to meet the routine and periodic maintenance needs. It will also be funded from “grants and loans to the Road Board by the federal, state or local government, statutory corporations in the federation or any agency or institution of any such government, any international organisation, or private foundation or any person whatsoever.” Apart from these, the Road Fund is to be funded from vehicle import tax. The Roads Board is to advise the Minister of Finance “to take such measures as are reasonable and effective to ensure that non-transport users of petroleum products are not unduly penalised by the introduction of the fuel levy”. The purpose of the Fund, according to section 24 (a) and (b) is to finance routine and periodic maintenance of national road network and administrative expenses as-

sociated with the execution of duties and responsibilities of the Roads Board in the management of the Road Fund. Section 33 (d) (2-17) of the bill stipulates that “the agencies vested with the responsibility to maintain road shall furnish to the Roads Board on an annual basis or whenever required by the Roads Board an audited account of their expenditure with respect to all disbursements made by the Road Board to enable the Road Board have oversight role. The agencies must submit to the Roads Board’s financial and thematic supervision or audit all necessary documents required for this purpose. The Roads Board shall have the authority to stop further disbursements of Road Fund to the agencies until an audited account of

Reasons Presidency, Senate relationship cordial C O N T I N U E D F R O M PA G E 4 1

screening of ambassadors, screening of President’s nominees and other matters relating to security. The Senate has a lot much to do. And apart from having much to do as enshrined in the constitution, they select what to do.” Also, expressing the same view is a member of the House, Rep. Arua Arunsi (Abia-PDP), who said: “Of course, you know that there has been frosty relationship between the House and the Presidency. And it is not unconnected with the way our leadership emerged, which of course you know did not go down well with the party.” Statesmanship /national interest theory The second consideration is the statesmanship /national interest theory. Even from the House of Representatives, some members believed that the 7th Senate is made up of a lot of statesmen, who have made notable marks in various areas of human engagement. For instance, there are 10 former governors in the 7th Senate, while some of the senators are former federal ministers, advisers and diplomats. Others are big-time local and international business men, who have great reputation to protect. In addition, as a result of their investments, they care much about issues of economic/national interests. Moreover, some of the senators had

Enang

served in the House of Representatives for two to three terms before crossing over to the Senate. So, they have garnered a lot of legislative cum administrative experience and are abreast of the inherent ills of executive/legislative bickering in democratic governance. Therefore, they try as much as possible to help resolve conflicts between the two arms. This class of people, according to the proponents of this theory, will naturally be more disposed to working for national interest than those who are political neophytes, who supposedly dominate the House. According to this school of thought, whenever the Presidency has a misunderstanding with the National Assembly on an issue, the senators, even when such issue is against their will, do consider national interest above all other con-

siderations. They might threaten the Presidency or any offending branch of the executive with sanction, but at the end of the day, because of the way the matter might negatively affect the wellbeing of the citizenry, they usually relapse whatever punitive measure(s) they had intended to apply to get the executive adhere to their own position. On the contrary, according to the theory, most of the members of the House of Representatives are exuberant young people, who want to be heard and noticed at all cost. In order to achieve this parochial interest, they take issues to the extreme and ignore the consequences of their actions on the people of Nigeria, whose mandate they hold in trust. They, in most cases tilt towards opposition/ antagonism in order to attract attention. Corroborating this position, Rep. Arunsi also said: “You know that in the Green Chamber, we have more young people that are associated with youthful exuberance in a way, unlike the Senate. You can see how the Senate quickly passed the 2014 budget to second reading. But here in the House they wanted to torpedo it. Thank God they have failed. The budget is national interest. So, what parochial interest are those Reps pursuing? They will prefer to pursue their selfish interest and overlook the overall interest of the country.” Senator Enang, expressing similar view on this, noted: “The senators are

the expenditure is received or necessary audit requirements are complied with” The bill provides for the establishment of the Federal Roads Authority (to replace the FERMA), whose primary role shall be to that of an executing agency to manage the road assets. According to section 48 (13), (14) and (15) (a) “it shall be the duty of the Federal Roads Authority to enter into road concession contracts and other forms of PSP contracts with any person for the purpose of executing relevant projects, such person being a corporate body incorporated under the laws of Nigeria. “The grants of a concession or a PSP contract shall be subject to competitive public tender rules approved and published by the Federal Government from time to time and in accordance with the relevant laws for the time being in force, for the procurement of concessions or PSP contracts” The sponsor Gwani is a member of the ruling Peoples Democratic Party (PDP) and represents Kaura Federal Constituency in the House of Representatives. Before his election to the Green Chamber in 2011, he was in the Kaduna State House of Assembly. He attended the famous Barewa College, Kaduna and Kaduna Polytechnic. He also trained at the University of Jos and Ahmadu Bello, University, Zaria. He is a member of various committees including aviation, constituency outreach and power. The rest are inter and intra party relations, sports and labour, employment and productivity. very nationalistic. Before they take any decision, they usually consider national interest first. One thing is that the Senate is made up of people of certain categories, class and standing. The House is made up of mostly of persons of a certain category and standing and age bracket. And different groups reason differently.” Ethnic dominance The third factor is the geo-ethnic dominance theory: the postulators of this view argue that the House is dominated by northerners. According to the theorists, in the Senate, there is no manifest dominance of any geo-political zone or region. This is because each state has equal representation in the Red Chamber, unlike the House, where there is so many imbalances in the existing federal constituencies. Consequently, the northern domination in the Senate is minimal, making it impossible for senators from the region to seriously influence decisions that would pose a problem in the governance of the country, of which the Presidency provides leadership. Character of leaders However, in as much as one may find traces of truth in the above schools of thought on why the Senate tends to enjoy more harmonious relationship with the Presidency, the personality and role of the individual leaders in the two chambers is very critical to the disposition of each chamber in the affairs of governance.

METRO 45

March 12, 2014

d for stealing church equipment

Women, miscreants convicted for public nuisance

s e d

e The church building. Inset: Rev. Adeoye

d Sunday. I told them that there was no money with me. I said pastors don’t keep money at home, but they did not listen. . “Theyransackedthehouse p andcartedawayoverN200,000 - belonging to me and my wife, and also took away 18 phones belongingtochurchmembers y because incidentally it was on a night the church had vigil. s “They had also attempted to rape some ladies during the encounter but I resisted and told them that I’d rather be killed before they could do d anything to those ladies. , “Butyesterday,wereceived d a call very early in the morns ing by one of our members,

Mrs. Funmilayo Ogunyinka, who is a voluntary cleaner of the church premises. “She wanted to find out about the whereabouts of church equipment like the amplifier, the keyboard and the mixer, which she could notfindintheirusuallocation within the auditorium. “In the morning when we came, we saw a policeman and a young man, Eze who came around to inform of us about what had happened in the night. “The policeman said they apprehended one of the boys who burgled the church and stole equipment which he

said have been recovered from them and kept at the station. “I asked if the police was thepersonresponsibleforthe arrest. But he pointed to the young man who had accompanied him.” Eze also spoke on how he facilitated the arrest of the suspect. He said: “When I came outside, I heard a sound coming from the direction of the church.Iwasn’tsuresoIwent very close to the area. When I got there, I saw the man with some equipment and I demanded what he was doing with them. He replied that he

wanted to throw them away for the church. “But suddenly, he started running away but I gave him a hot chase and caught up with him and dragged him along to the area where we saw a policeman who helped us in the arrest and forced the robber to lead us to where he kept the stolen equipment. We went to those places and recovered them.” Contacted, the state Deputy Police Public Relations Officer, Damasus Ozoani, confirmed the arrest of the suspect.

er donates N50m items to constituents

nal Askene/ l conhmed worth nstitu-

ents. The items included over 50 motor cycles, two Sport Utility Vehicles (SUVs), several sewing machines, laptops, video cameras, still cameras, hospital equipment, working tools for builders, among others.

The immediate beneficiaries of these items are artisans. It was a fanfare during the grand finale of the one-week constituency outreach organised by the lawmaker popularly known as Damisa, as the main compound of the Government Lodge in Okene was filled to capacity by the people. Different dancing groups added colour to the event. Some members of the National Assembly were at the event to show solidarity to their colleague. Those present were Hon. Umar Buba Jibril, representing Lokoja/ Kogi who stood in for the Speaker, House of Representatives, Alhaji Aminu Waziri Tambuwal, Senator Nurudeen Abatemi from Kogi Central, Hon. Ina Hussaini from Igalamela/Idah, constituency and Hon. Tajudeen Yusuf. Others included Hon. Mohammed Sadiq from Ajaokuta Federal Constituency, Hon. Ganiyu

Daudu from Ondo State, Hon. Akpaterson from Akoko-Edo, and Speaker of the Kogi State House of Assembly, Rt. Hon. Momoh jimoh Lawal. The occasion also received traditional blessing, as the Ohinoyi of Ebira land, Alhaji Ado Ibrahim, and other Ohis were present. Notable politicians at the event included the representative of the Kogi State governor, who is the Commissioner for Land and Urban Development, Hon. Stephen Maiyaki, and Alhaji Yahaya Abubakar Karaku, among others. Addressing the crowd at the grand finale, Tijani said the idea was based on the research organised in his constituency to know the immediate need of the people. The legislator said that empowerment had gone beyond dishing out financial assistance to the people, but empowering them in their chosen career.

n area court in Karu, Abuja, yesterday sentenced Jennifer Zuanan and Comfort Dennis of no fixed address to two months’ imprisonment each for constituting public nuisance. Judge Hassan Ishaq, however, gave them an option of N5,000 fine each and warned them to be of good behaviour and be good citizens. He also sentenced Shuaibu Ibrahim, Prince Benjamin, John Wusen, Mohammed Usman, Yerima Bala, and Hassan Rabiu of no fixed address to two months’ imprisonment each for the same offence. Ishaq, according to the News Agency of Nigeria (NAN), advised them to be good citizens and never to be caught committing any offence again. Police prosecutor, Phillips

Akogwu, earlier said the accused were arrested following complaints from the public. He said a team of policemen, led by ASP Mamza Hosea of Nyanya Police Station, on March 10, went on patrol and searched the hot and dark spots of Nyanya, Abuja. Akogwu said while the policemen were on patrol, the first and second accused were found in corners dressed half naked, enticing and soliciting for male customers. He added that the other accused were also caught in dark hideouts and bushes waiting to commit crimes such as snatching of handbags and stealing. Akogwu said their offence contravened the Penal Code. They all pleaded guilty to the charge and asked the court for leniency.

Court orders psychiatric test for driver

Yaba Magistrates’ Court in Lagos yesterday ordered the remand of a driver at a psychiatric hospital over his refusal to take a plea. The Magistrate, Mrs Ipaye Nwachukwu, ordered that Peter Obi, 30, be remanded at the Yaba Psychiatric Hospital for medical evaluation. Obi, who resides in Lekki, refused to take a plea at his arraignment in court on a one-count charge of intent to commit felony. The prosecutor, Inspect Peter Nwangwu, said that the accused committed the offences on March 3 at the office of Efex Executive Transport Company, located at No.

77/79 Murtala Mohammed Way, Yaba, Lagos. He said that Obi, without any authority, entered into one of the company’s offices, stole a driver’s uniform and bus keys. The prosecutor said the accused hid himself in one of the buses till March 4 with the intention to steal the vehicle once the gates to the company were opened. The prosecutor said the offence contravened Section 21 of the Criminal Laws of Lagos State, 2011. The court adjourned the case to March 24 when Obi’s medical reports would be reviewed.

23-year-old man beats policeman to pulp

23-year-old man, Segun Oshile yesterday appeared before a Yaba Magistrates’ Court in Lagos for allegedly beating a policeman to a pulp. Oshile, who resides at No. 15b Ishola Street, Alagomeji, Yaba, is facing a two count-charge of assault and breach of public peace. The prosecutor, ASP Chris Anyanwu, told the court that the accused committed the offences on February 21, at No. 17 Ishola Street, Alagomeji, Yaba. Anyanwu said that Oshile and others at large attacked a policeman, Corporal Saraki Danjuma, who tried to disperse an angry

crowd that had turned violent. He said: “The accused attacked the corporal who had been guarding a construction site, after he tried to disperse a violent crowd in the area. “Oshile and others beat Saraki to a pulp before he was rescued. “The defendant was consequently apprehended and taken to the police station.” According to the prosecutor, the offences contravene sections 166, 172 and 409 of the Criminal Law of Lagos State, 2011. Oshile, however, pleaded not guilty to the charges.

46 business | FINANCIAL MARKET NEWS

Sanctity of Truth

Wednesday, March 12, 2014

FMDQ Daily Quotations List

11-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

FGN

Description

Issue Date

Coupon (%)

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

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

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

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

TOTAL OUTSTANDING VALUE Rating/Agency

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

0.02 0.05 0.30 0.55 1.12 2.43 3.13 3.38 3.47 4.22 5.30 5.62 7.88 14.72 15.20 15.70 16.37

13.33 13.37 13.72 14.30 14.33 14.01 14.08 13.96 13.96 13.96 14.04 13.97 14.04 13.68 13.66 13.63 13.66

5.93 10.75 13.21 14.00 14.17 13.93 13.97 13.84 13.84 13.86 13.96 13.87 13.98 13.63 13.61 13.57 13.60

99.93 99.82 98.62 97.42 89.65 98.05 102.45 89.18 87.64 89.81 107.10 73.47 110.95 108.23 92.56 67.06 76.25

100.08 99.97 98.77 97.57 89.80 98.20 102.75 89.48 87.94 90.11 107.40 73.77 111.25 108.53 92.86 67.36 76.55

Maturity Date

TTM (Yrs)

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

4,402.04 Issuer

Agency Bonds AMCON FMBN

Price

Outstanding Value (N'bn)

***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

0.64 1.20 1.56 2.75 3.11 3.32

1.00 2.63 2.27 2.00 1.49 1.00

15.39 17.23 16.61 15.97 15.45 14.96

90.97 81.95 100.97 89.19 86.26 84.75

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

0.40 0.60 1.47 0.84 1.37 1.38 3.11 1.94 3.81 2.58 4.57 2.78 2.78 3.36 3.25 5.70 3.31 4.11 6.72 4.12 4.15

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

18.93 20.34 18.84 17.83 18.94 17.95 19.55 21.66 15.75 15.78 14.96 14.97 15.18 14.96 16.42 15.91 16.70 16.70 14.97 15.40 15.91

98.05 96.55 92.15 95.85 94.49 97.44 78.47 88.35 95.06 96.36 96.87 99.16 104.57 98.87 97.85 94.79 95.27 94.54 93.84 101.93 101.58

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

0.58 0.77 0.81 0.96 1.03 1.12 2.55 2.63 3.56 2.17 2.08 2.49 2.49 4.53 2.35 2.69 6.68

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

15.33 19.73 23.27 19.59 15.73 17.30 14.98 15.32 18.48 15.88 17.49 19.19 19.05 17.02 16.28 20.09 16.73

97.94 95.65 95.51 92.14 96.74 97.09 95.90 97.71 86.14 104.87 97.58 97.85 101.75 90.70 99.16 94.24 94.11

11-Feb-18

3.92

1.00

14.96

86.22

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

1,304.32

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

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

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

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

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

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

TOTAL OUTSTANDING VALUE

567.90

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

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

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

NAHCO

14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

IFC

10.20 IFC 11-FEB-2018

UBA *LA CASERA # *CHELLARAMS

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

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

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

TOTAL OUTSTANDING VALUE

175.67

Supranational Bond AAA/S&P

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE Rating/Agency

12.00 Issuer

Description

Issue Date

Coupon (%)

Issue Value ($'mm)

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

5.52

5.38

106.96

107.79

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.72

4.53

101.55

102.33

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

5.95

5.83

102.99

103.87

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

3.97

3.38

113.51

114.67

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.25

4.59

104.57

105.97

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.35

6.07

98.62

99.71

B+/S&P

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.22

6.83

100.07

101.22

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.36

8.02

94.88

96.00

B/Fitch

Afren PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.36

4.81

114.03

115.23

B/S&P; B-/Fitch

First Bank PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.34

6.88

103.37

105.12

B+/S&P; B+/Fitch

Afren PLC III

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

6.63

6.39

99.99

100.92

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

TOTAL OUTSTANDING VALUE

2,960.00

**Treasury Bills DTM 9 16 23 30 37 44

FIXINGS Maturity 20-Mar-14 27-Mar-14 3-Apr-14 10-Apr-14 17-Apr-14 24-Apr-14

Bid Discount (%) 12.50 12.50 12.60 12.90 12.50 12.80

Offer Discount (%) 12.25 12.25 12.35 12.65 12.25 12.55

Bid Yield (%) 12.54 12.57 12.70 13.04 12.66 13.00

Tenor CALL 7 DAYS 30 DAYS 60 DAYS 90 DAYS

NIBOR

Money Market Rate (%) 14.5417 14.7917 15.0000 15.2500 15.6250

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

14.04

Tenor

Bid ($/N)

Offer ($/N)

14.38

Spot 7D 14D 1M

164.86 164.83 165.09 165.69

164.96 165.10 165.47 166.43

O/N Tenor

REPO

Rate (%)

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

FGN

Sanctity of Truth

Wednesday, March 12, 2014

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

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

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

TOTAL OUTSTANDING VALUE

Description

Issuer

AMCON FMBN

***LCRM

TOTAL OUTSTANDING VALUE

BLACKMAIL

Sub-National Bonds

KWARA The SEC has insisted NIGER KADUNA that it won’t succumb to *EBONYI *BENUE alleged blackmail*IMO by stock LAGOS brokers.

13.37 13.72 14.30 14.33 14.01 14.08 13.96 13.96 13.96 14.04 13.97 14.04 13.68 13.66 13.63 13.66

10.75 13.21 14.00 14.17 13.93 13.97 13.84 13.84 13.86 13.96 13.87 13.98 13.63 13.61 13.57 13.60

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

he Securities and Exchange Commission (SEC) yesterday said it would not succumb to stockbrokers’ blackmail on the new capital requirements for capital market operators. An authoritative source in TOTALwho OUTSTANDING SEC, pleadedVALUE anonymity, Corporate Bonds Agency of Nigetold the News A+/Agusto; AA/GCR LAFARGE WAPCO ria (NAN) in LagosGTB that there Aa/Agusto Nil was “no going backNGC on the reBbb+/Agusto *UPDC capitalisation”. A-/Agusto *FLOURMILLS BB+/GCR *CHELLARAMS He said that the commisA+/Agusto; A-/GCR NAHCO A-/Agusto sion would not compromise its FSDH A/GCR UBA stance on the market standard BBB-/GCR *C & I LEASING BBB+/DataPro; *DANA because ofBB+/GCR the opposition of A-/DataPro; BB-/GCR *TOWER some stockbrokers to the reAAA/DataPro; A+/GCR *TOWER A/Agusto; A/GCR UBA capitalisation programme. Bbb+/Agusto; BBB+/GCR *LA CASERA According to him, the marBB+/DataPro; BB+/GCR *CHELLARAMS A+/Agusto; A-/GCR NAHCO ket does not need many dealers TOTAL OUTSTANDING VALUE with negative shareholders’ Supranational Bond fund in the market.IFC AAA/S&P The SEC source VALUE stressed that TOTAL OUTSTANDING the commission would not comRating/Agency Issuer promise the market standard FGN Eurobonds because of some brokers’ opBB-/Fitch; B+/S&P position and blackmail. BB-/Fitch; FGNthe The source also said that BB-/S&P µ

# #

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

commission would not be part of the proposed “capital seg14.00 KWARA 5-AUG-2014 mentation” being clamoured 14.00 NIGER 15-OCT-2014 by12.50 theKADUNA some31-AUG-2015 dealers. 13.00 EBONYI 30-SEP-2015 HeBENUE said that the brokers 14.00 30-JUN-2016 15.50 IMObe 30-JUN-2016 should more concerned on 10.00 LAGOS 19-APR-2017 ways to raise the new capital in13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 stead of seeking for a meeting 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 with the commission's board. 14.50 EKITI 09-DEC-2018 A meeting of some stockbro14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 kers with SEC executive manage15.50 GOMBE 02-OCT-2019 14.50 LAGOS ment team22-NOV-2019 ended in a deadlock. 14.75 14.75 13.50 14.50 15.00

OSUN 12-DEC-2019 OSUN II 30-SEP-2020 LAGOS IV 27-NOV-2020 EKITI II 31-DEC-2020 NASARAWA 06-JAN-2021

enith Bank has posted a profit after tax of N95.32 billion for the financial 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 year ended Dec. 31, 2013. 13.00 UBA 30-SEP-2017 The report is contained in 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 the company's audited result MPR+7.00 TOWER 9-SEP-2018 released by the Nigerian Stock MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 Exchange (NSE) in Lagos yes15.75 LA CASERA 18-OCT-2018 MPR+5.00 terday . CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020 The N95.32billion profit was against the N100.68 billion posted 2012, according to the 10.20 IFCin 11-FEB-2018 News Agency of Nigeria (NAN). This represented a marginal Description decrease of 5.32 per cent when compared with the figure for 6.75 JAN 28, 2021 2012. 5.13 gross JUL 12, 2018 The bank's earnings 17.00 NGC 31-DEC-2014

10.00 UPDC 17-AUG-2015

12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016

BB-/Fitch; BB-/S&P

6.38 JUL 12, 2023

Corporate The FMDQEurobonds Daily Quotations

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

0.64 1.20 1.56 2.75 3.11 3.32

1.00 2.63 2.27 2.00 1.49 1.00

15.39 17.23 16.61 15.97 15.45 14.96

90.97 81.95 100.97 89.19 86.26 84.75

5.83

102.99

103.87

Chris Ugwu

Mr Emeka Madubuike, President, Association of 05-Aug-09 14.00 Stockbroking Houses of Nige15-Oct-09 14.00 31-Aug-10 12.50 that the ria (ASHON), told NAN 30-Sep-10 13.00 meeting did not yield any fruit30-Jun-11 14.00 30-Jun-09 15.50 ful result as both parties failed 19-Apr-10 10.00 30-Jun-10 13.75 to reach a compromise. 30-Dec-10 14.00 He30-Sep-11 said that the stockbrokers 14.00 04-Oct-11 14.00 would seek audience with the 09-Dec-11 14.50 commission's board to 12-Dec-13 14.00 discuss 15.50 their14-Feb-12 reservations on the new capi02-Oct-12 15.50 22-Nov-12 14.50 by SEC. tal requirement released

1,304.32 he

Nigerian Stock Exchange continued on its 17.00 05-Aug-14 0.40 bullish trend yesterday as 6.00 15-Oct-14 0.60 8.50 principal 31-Aug-15 the indicators,1.47 the 16.50 30-Sep-15 0.84 NSE ASI and market capitali13.00 30-Jun-16 1.37 18.50 30-Jun-16 1.38 sation rose by 0. 25 per cent. 57.00 19-Apr-17 3.11 50.00Blue chip30-Jun-17 1.94 companies such 25.00 31-Dec-17 3.81 as Guinness and Dangote Ce50.00 30-Sep-18 2.58 9.00 4.57 ment, lifted04-Oct-18 the market capi20.00 09-Dec-18 2.78 talisation by12-Dec-18 N31 billion. 2.78 12.00 27.00 14-Feb-19 3.36 Consequently, at the closed 20.00 02-Oct-19 3.25 80.00 22-Nov-19 yesterday, 5.70 of transactions 12-Dec-12 14.75 30.00 12-Dec-19 3.31 the market capitalisation in30-Sep-13 14.75 11.40 30-Sep-20 4.11 27-Nov-13 13.50 87.00 27-Nov-20 creased by 0.25 per cent or6.72 N31 31-Dec-13 14.50 5.00 31-Dec-20 4.12 billion from06-Jan-21 N12.582 trillion 06-Jan-14 15.00 5.00 4.15 567.90 traded on Monday to N12.613 trillion on Tuesday. 07-Oct-11 11.50 11.80 07-Oct-14 0.58 NSE All Share In18-Dec-09 13.50 13.17 Also, the18-Dec-14 0.77 17.00 2.00 31-Dec-14 0.81 stood01-Apr-10 at N351.47 billion against dex (ASI) appreciated by 96.64 17-Aug-10 10.00 15.00 17-Aug-15 0.96 basis points09-Dec-15 to 39269.40 points N307.08 billion achieved 09-Dec-10 12.00 in 2012, 37.50 1.03 06-Jan-11 14.00 1.50 06-Jan-16 1.12 from 39172.76 points recorded representing a growth of 14.46 15.00 29-Sep-11 13.00 29-Sep-16 2.55 25-Oct-13 14.25 5.53the previous 25-Oct-16 2.63 in day. per cent. 30-Sep-10 13.00 20.00 30-Sep-17 3.56 It 30-Nov-12 also proposed a dividend Further review of yes18.00 0.94 30-Nov-17 2.17 09-Apr-11billion in 16.00 8.01 09-Apr-18showed 2.08 of N54.94 contrast to terday's trading that 09-Sep-11 18.00 3.63 09-Sep-18 2.49 N50.23 billion declared showed that09-Sep-18 investors bought 09-Sep-11 16.00 in the 1.00 2.49 22-Sep-11 14.00 35.00 22-Sep-18 4.53 corresponding period in 2012. 347.699 million shares worth 18-Oct-13 15.75 3.00 18-Oct-18 2.35 The dividend translated to N3.701 billion in 4782 deals 17-Feb-12 17.00 0.54 17-Feb-19 2.69 14-Nov-13 15.25 2.05 14-Nov-20 6.68 N1.75 per share compared with against 383.275 million shares 175.67 N1.60 declared in 2012. valued at N2.727 billion traded The payment of the proposed by investors11-Feb-18 in 4625 deals.3.92 11-Feb-13 10.20 12.00 dividend, if approved by the 12.00 On the price movement shareholders on April 2, would chart, Guinness Nigeria Plc Issue Date Coupon (%) Issue Value ($'mm) Maturity Date Bid Yield (%) led gainers' table, appreciatbe paid on April 4. The bank is the first bank to ing by N8.27 kobo to close at 07-Oct-11 6.75 5.52 declare its 2013 audited result 500.00 N180.00 per 28-Jan-21 share, 18-Dec-09 5.13 500.00 12-Jul-18 4.72 on the NSE. Dangote Cement followed 01-Apr-10

6.38

500.00

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

99.97 98.77 97.57 89.80 98.20 102.75 89.48 87.94 90.11 107.40 73.77 111.25 108.53 92.86 67.36 76.55

Issue Date

Zenith Bank posts N95.32bn profit, declares N1.75 dividend 11.50 LAFARGE WAPCO 7-OCT 2014 13.50 GUARANTY TRUST 18-DEC-2014

99.82 98.62 97.42 89.65 98.05 102.45 89.18 87.64 89.81 107.10 73.47 110.95 108.23 92.56 67.06 76.25

Stock market sustains bullish profile

4,402.04

Agency Bonds

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

0.05 0.30 0.55 1.12 2.43 3.13 3.38 3.47 4.22 5.30 5.62 7.88 14.72 15.20 15.70 16.37

business | FINANCIAL MARKET NEWS

SEC insists on new capital for stock brokers Rating/Agency

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

12-Jul-23

5.95

with a gain of N3.14 kobo to close at N240.00 per share. Conoil Nigeria Plc, Larfarge WAPCPO and Union 4.88 18.93 98.05 Bank of Nigeria (UBN) im5.99 20.34 96.55 4.44 18.84 proved by N2.00, N0.8992.15 kobo 3.23 17.83 95.85 and 4.46N0.48 kobo 18.94 respectively 94.49 3.48 17.95 97.44 to close at N50.00, N111.00 and 5.59 19.55 78.47 7.60 kobo. 21.66 88.35 10.18 1.79 15.75 95.06 Zenith bank added 0.39 kobo 1.80 15.78 96.36 14.96 to 1.00 close at N21.99 per 96.87 share. 1.00 14.97 99.16 Nigerian Aviation Handling 1.21 15.18 104.57 1.00 14.96 98.87 Company garnered 0.24 kobo 2.46 16.42 97.85 1.94 15.91 per share. 94.79 to close at N5.84 2.74 16.70 95.27 cement gained 2.74Ashaka16.70 94.54 1.00 93.84 0.18 kobo to14.97 close at N16.98 1.44 15.40 101.93 per1.95share while Access bank 15.91 101.58 and National Salt Company of Nigeria garnered 0.7 kobo to 1.00 15.33 97.94 close and N13.07 5.21 at N7.77 19.73 95.65 per 8.71 23.27 95.51 share respectively . 4.88 19.59 92.14 On the other hand, Total 1.00 15.73 96.74 Ni2.63 17.30 97.09 geria Plc topped losers chart, 1.00 14.98 95.90 1.34 15.32 kobo to 97.71 shedding N3.95 close 4.52 18.48 86.14 at N166.05 kobo. Mobil Nigeria 1.88 15.88 104.87 17.49a loss of97.58 Plc3.48 trailed with N2.98 5.20 19.19 97.85 kobo to close at N123.00, while 5.06 19.05 101.75 3.06 17.02 90.70 Nigerian Breweries loss 2.29 16.28 99.16 N1.00 to close at N148.50 6.11 20.09 94.24 2.76 16.73 94.11 kobo. Other stocks that recorded price depreciation were Guaranty Trust86.22 Bank 1.00 14.96 (GTBank) and Ecobank Transnational Incorporated, Offer Yield (%) Bid Price Offer Price which declined by N0.84 kobo & Yields andPrices N0.50 kobo respectively 106.96 107.79and to 5.38 close at N25.16 kobo 4.53 102.33 N14.50 kobo.101.55

11-Mar-14

1,500.00

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 11.50 FEB 01, 2016 01-Feb-11 11.50 450.00 01-Feb-16 B-/S&P; B/Fitch Afren PLC I 3.97 3.38 113.51 114.67 the FMDQ OTC PLC Terms of Use and Disclaimer Statement. GTBank PLC I

7.50 MAY 19, 2016

19-May-11

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

B+/S&P

FGN Bonds

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

B/Fitch

Afren PLC II

10.25 APR 08, 2019

B/S&P; B-/Fitch

First Bank PLC

B+/S&P; B+/Fitch

Afren PLC III

B+/S&P; B+/Fitch

Rating/Agency

Issuer

TOTAL OUTSTANDING VALUE **Treasury Bills DTM 9 16 23 30 37 NA 44 58 65 72 79 86 100 107 114 121 128 149 TOTAL OUTSTANDING 177 268 303 317 Rating/Agency 331 345 359 Agency Bonds

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

Description

Issue 8.25 AUG 07, 2020

Date

6.63 DEC 09, 2020

10.50 18-MAR-2014 10.75 31-MAR-2014 9.20 29-JUN-2014 9.25 28-SEP-2014 Bid Discount (%) 4.00 23-APR-2015 12.50 13.05 16-AUG-2016 12.50 12.60 15.10 27-APR-2017 12.90 9.85 27-JUL-2017 12.50 9.35 31-AUG-2017 12.80 10.70 30-MAY-2018 12.90 12.90 16.00 29-JUN-2019 13.00 7.00 23-OCT-2019 13.00 16.39 27-JAN-2022 12.90 15.00 28-NOV-2028 12.85 12.90 12.49 22-MAY-2029 13.25 8.50 20-NOV-2029 13.25 10.00 23-JUL-2030 13.25 13.30 13.30 12.50 13.15 13.15 13.20 13.20 13.35

18-Mar-11 31-Mar-07 29-Jun-07 28-Sep-07 Offer Discount (%) 23-Apr-10 12.25 16-Aug-13 12.25 12.35 27-Apr-12 12.65 27-Jul-07 12.25 31-Aug-07 12.55 30-May-08 12.65 12.65 29-Jun-12 12.75 23-Oct-09 12.75 27-Jan-12 12.65 28-Nov-08 12.60 12.65 22-May-09 13.00 20-Nov-09 13.00 23-Jul-10 13.00

Description

13.05 13.05 12.25 12.90 12.90 12.95 12.95 13.10

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 # Risk Premium NAis a combination of credit risk and liquidity risk premiums 0.00/16.00 LCRM 09-DEC-2016 **Exclusive of non-trading t.bills ***LCRM 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 AMCON

*from the Amortising bonds, the averageFMBN life is calculated and not the duration

TOTAL OUTSTANDING VALUE

7.50

500.00

19-May-16

5.25

4.59

104.57

6.00

400.00

08-Nov-18

6.35

6.07

98.62

7.25

350.00

25-Jul-17

7.22

6.83

100.07

09-May-13

6.88

300.00

02-May-18

8.36

8.02

94.88

08-Apr-12

10.25 Value Outstanding 8.25 (N'bn)

300.00

08-Apr-19

5.36

4.81 Offer Yield 6.88 (%)

114.03

Bonds

Coupon (%) 07-Aug-13 09-Dec-13

10.50 10.75 9.20 9.25 Bid Yield (%) 4.00 12.54 13.05 12.57 12.70 15.10 13.04 9.85 12.66 9.35 13.00 10.70 13.17 13.20 16.00 13.34 7.00 13.38 16.39 13.30 15.00 13.32 13.41 12.49 13.82 8.50 13.86 10.00 13.90 14.06 14.22 13.76 14.76 14.85 Issue Date 14.99 15.08 15.37

KWARA Modified Duration NIGER Buckets KADUNA *EBONYI <3 *BENUE 3<5 *IMO >5 LAGOS Market *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN

TTM (Yrs) 07-Aug-20

Bid Yield (%) 7.34

360.00

09-Dec-20

6.63

9M 4,402.04 12M

14.7433 15.3880

Coupon (%)

NIFEX Issue

Value (N'bn)

Current Price ($/N) BID($/N) 164.9050 OFFER ($/N) 165.0050

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

0.02 13.33 0.05 13.37 0.30 Money Market13.72 0.55 14.30 Tenor Rate (%) 1.12 14.33 OBB 14.04 2.43 14.01 3.13 14.08 O/N 14.38 3.38 13.96 REPO 3.47 13.96 Tenor Rate (%) 4.22 13.96 Call 14.33 1M 15.17 5.30 14.04 3M 15.67 5.62 13.97 6M 16.17 7.88 14.04 14.72 13.68 NOTE: 15.20 13.66 :Benchmarks 15.70 13.63 * :Amortising Bond 16.37 Bond 13.66 µ :Convertible

6.39

1.20 1.56 2.75 3.11 3.32

96.00 115.23

Bid Price 103.37

Offer Price 105.12

99.99

100.92

5.93 99.93 100.08 10.75 99.82 99.97 13.21 98.62 98.77 Foreign (Spot & Forwards) 14.00 Exchange 97.42 97.57 14.17 89.65 89.80 Tenor Bid ($/N) Offer ($/N) 13.93 98.05 98.20 Spot 164.86 164.96 13.97 102.45 102.75 7D 164.83 165.10 13.84 89.18 89.48 14D 165.09 165.47 13.84 87.64 87.94 1M 165.69 166.43 13.86 89.81 90.11 2M 166.91 168.24 3M 168.74 171.44 13.96 107.10 107.40 6M 171.96 176.16 13.87 73.47 73.77 1Y 178.95 188.19 13.98 110.95 111.25 13.63 108.23 108.53 13.61 92.56 92.86 NA :Not Applicable 13.57 67.06 67.36 # :Floating Rate Bond 13.60 76.25 coupon bonds 76.55 ***: Deferred

AMCON: Asset Management Corporation of Nigeria FGN: Federal Government of Nigeria FMBN: Federal Mortgage Bank of Nigeria # IFC: International Finance Corporation Risk Avg. Life/TTM Management LCRM: Local Contractors Receivables Maturity Date Premium (Yrs) Company NAHCO: Nigerian Aviation Handling (%) NGC: Nigeria-German Company UBA: United Bank for Africa UPDC: UAC Property Development Company 31-Oct-14 1.00 WAPCO:West Africa Portland0.64 Cement Company

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

99.71 101.22

Price

2.63 2.27 2.00 1.49 1.00

†: Bond rating expired

Valuation Yield (%)

Indicative Price

15.39 17.23 16.61 15.97 15.45 14.96

90.97 81.95 100.97 89.19 86.26 84.75

1,304.32 FMDQ FGN BOND INDEX

Maturity Date 300.00

6.63

320.00 18-Mar-14 2,960.00 35.00 31-Mar-14 45.00 FIXINGS 29-Jun-14 100.00 28-Sep-14 NIBOR 535.00 23-Apr-15 Tenor Rate (%) 292.47 16-Aug-16 CALL 14.5417 7452.80 DAYS 14.7917 27-Apr-17 30 DAYS 15.0000 20.00 27-Jul-17 60 DAYS 15.2500 100.00 31-Aug-17 90 DAYS 15.6250 300.00 30-May-18 180 DAYS 15.8333 365 DAYS 16.0417 351.30 29-Jun-19 233.90 23-Oct-19 600.00 27-Jan-22 NITTY 75.00 28-Nov-28 Tenor Rate (%) 1M 12.9616 150.00 22-May-29 2M 13.1299 200.00 20-Nov-29 3M 13.3568 591.57 23-Jul-30 6M 14.1467

105.97

14.00Porfolio KWARAMarket 5-AUG-2014 Total Outstanding Value(Bn) Volume(Bn) 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 1,230.29 1,280.27 14.00 BENUE 30-JUN-2016 1,041.94 951.30 15.50 IMO 30-JUN-2016 451.07 591.57 2,723.30 2,823.14 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

05-Aug-09

Weighting by 15-Oct-09Vol Outstanding

31-Aug-10 30-Sep-10 45.35 30-Jun-11 33.70 30-Jun-09 20.95 19-Apr-10 100.00 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

14.00

Weighting by Mkt 14.00 Value

12.50 13.00 45.18 14.00 38.26 15.50 16.56 10.00100.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75

17.00

Bucket6.00 Weighting

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

0.45 0.34 0.21 1.00

05-Aug-14

% Exposure_ 15-Oct-14 Mod_Duration

31-Aug-15 30-Sep-15 21.99 30-Jun-16 38.65 30-Jun-16 39.36 19-Apr-17 100.00 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20

0.40

Implied 0.60Yield

1.47 0.84 14.12 1.37 14.04 1.38 13.66 3.11 13.91 1.94 3.81 2.58 4.57 2.78 2.78 3.36 3.25 5.70 3.31 4.11

4.88

Implied 5.99Price Portfolio

4.44 3.23 100.4033 4.46 117.1461 3.48 82.6020 5.59 102.3149 7.60 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74

18.93

98.05

YTD Return 96.55 (%)

INDEX 20.34

18.84 17.83 1,015.63 18.94 991.95 17.95 999.96 19.55 995.67 21.66 15.75 15.78 14.96 14.97 15.18 14.96 16.42 15.91 16.70 16.70

92.15 95.85 1.5627 94.49 0.8052 97.44 0.0036 78.47 0.4334 88.35 95.06 96.36 96.87 99.16 104.57 98.87 97.85 94.79 95.27 94.54

48 BUSINESS | MONEY LINE

Sanctity of Truth

Wednesday, March 12, 2014

External reserves set to fall below $38bn, says Rewane

Alade ties economy growth to youth entrepreneurship

l February forex demand rises to $3.1bn He noted that foreign exl Dollar inflows dip to $9.13bn change inflow through the WEAK NAIRA

Rewane, is the decline in oil receipt, which has necessitated slashing of monthly allocation to the states by 25 per cent. This according to Rewane, is a testimony that there is serious problem with revenue generation. To support the Naira, the CBN had also increased its intervention at the official foreign exchange market. Consequently, foreign exchange sales by the CBN and oil companies went up 3.76 per cent to $3.1billion from $2.98billion in January. Forex demand in February rose to $3.1billion a 7-month high, while dollar inflow through the central bank decreased to $9.13 billion, fuelling persistent pressure on the naira. Rewane attributed the pressure on the local currency to lower oil revenues, depletion in reserves, speculation and fear, as well as reversal of Foreign Direct Investment (FDI) flows to Nigeria and other emerging markets.

Both the Naira and external reserves are under pressure. Ayodele Aminu

igeria’s external reserves is set to fall below $38billion, confirming that the Central Bank of Nigeria (CBN) may no longer have the financial muscle the support the naira any longer. This was the conclusion of the Managing Director, Financial Derivatives Company (FDC), Bismarck Rewane, in the March edition of the Lagos Business School Executive Breakfast Session released yesterday. The nation’s external reserves suffered a decrease of some 18.7 per cent from 2013 peak and 8.9 per cent fall from last December level. Added to this, according to

CBN went down to $9.13billion in fourth quarter (Q4)2013, representing a decline of 23 per cent from Q3. According to Rewane, naira lost 1.39 per cent and 1.78 per per cent at interbank and parallel markets N/$ respectively. He observed that Sanusi Lamido Sanusi’s suspension led to record low of N169/$ at interbank market. He said the economic fallout of Sanusi's suspension is unpredictable. "This is making a naira exchange rate depreciation imperative," the FDC's boss stated.

AGENT BANKING Sterling Bank seeks to increase its customer base through agent banking

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

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

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

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Abuja

he Nigerian economy will attain the desired growth if children could become selfreliant by starting up businesses early in life, Acting Governor of Central Bank of Nigeria (CBN), Mrs Sarah Alade, has said. Alade stated this yesterday in Abuja at the continuation of Financial Literacy Exhibition organised by CBN for school children and youths, as part of its 2014 Global Money Week Celebration. She said the programme was about developing and inculcating in school kids, the idea that they could create businesses and do things on their own. The apex bank had earlier collaborated with SAGE Nigeria, a Non-Governmental Or-

ganisation to empower talented school kids with startup funds for businesses. As part of the CBN initiative to empower young people starting business of their own, , it empowered Junior Secondary School (JSS) Area 10, Garki Abuja with N200, 000 to start a recycled paper business. `` When you see children embracing financial matters to the point of actualising projects. It shows that the future of this country can only be bright. ``Now that you have been taught and mobilised with startup funds, CBN is not expected to come to your aid in growing it. ``You have made income, you are supposed to go to the bank and see how the bank can support you whether it is through a loan for vehicle or additional working capital."

Sterling Bank targets 30m ‘unlettered’ customers

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

Abdulwahab Isa

Bid 163.4000

Offer 163.5000 Source: FMDQ

terling Bank Plc has expressed its commitment to extending financial services to about 30 million Nigerian adults who are not educated through agent banking, which it pioneered. This, the lender intends to achieve by the deploying of Point of Sale (PoS) terminals that runs on biometric information. Group Head, E-Business, Sterling Bank Plc Mr. Fatai Amoo, made these known at a media briefing on agent banking held at the bank's corporate headquarters in Lagos. Agent Banking seeks to take banking to the unbanked/ under-banked at a cost efficient manner via an array of products that appeal to adult Nigerians. Agent Banking services include account opening, deposits, withdrawals, bill payments, funds transfer and airtime top-up services. Amoo said the board and executive management of the bank have pledged their commitment to the initiative by making substantial resources available for deployment of all the required solution that will drive the agent banking process. To this end, he said about 30 million Nigerians who are not educated will have the opportunity to use their thumb print in carrying out banking transactions at their convenience. "Whether you are lettered

or not, literate or illiterate, God has given us a finger. These fingers are good enough for you to do banking transactions," Amoo said. He said both the un-banked and under-banked are expected to approach any of the bank's agents that will soon be spread across Nigeria for enrolment as customers of Sterling Bank. After enrolment, he said the customers can then withdraw, deposit money and do other value-added services like airtime top-up, subscriptions, bill payments among other, through the bank’s agents. He said the agent network will be situated in locations that may not be viable for a commercial bank, but will have some semblance of commercial activities. In selecting agents that will be involved in the bank's network, he said the bank takes into consideration people who can read and write as well as those who have integrity and existing business locations. To ensure the smooth takeoff of the project, he said Sterling Bank will be having regular engagement with the agents and that there would be monitoring teams from the Central Bank of Nigeria (CBN). Noting that some agents had commenced operations since last year, he said prospective agents will have official bank logos and will undergo training.

business | CAPITAL MARKET 49

Sanctity of Truth

Wednesday, March 12, 2014 Daily Summary as of 11/03/2014 Printed 11/03/2014 14:36:49.049

The Nigerian Stock Market Exchange as at March 11, 2014

Daily Summary as of 11/03/2014

Printed 11/03/2014 14:36:49.049

Daily Summary (Equities)

Daily Summary (Bonds)

Activity Summary on Board EQTY

Activity Summary on Board DEBT Federal

Bond Name 16.39% FGN JAN 2022 Federal Totals

Symbol FG9B2022S1

DEBT Board Totals

No. of Deals 2 2

Current Price 111.49

Bond Activity Totals

Quantity Traded 10,100 10100

HEALTHCARE HEALTHCARE Totals

Value Traded 11,466,280.62 11,466,280.62

10,100

11,466,280.62

10100

11,466,280.62

ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals IT Services COMPUTER WAREHOUSE GROUP PLC NCR (NIGERIA) PLC. TRIPPLE GEE AND COMPANY PLC. IT Services Totals

Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Daily Summary as of 11/03/2014 Crop Production Totals Printed 11/03/2014 14:36:49.049 Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 4 43 17 64

Current Price 0.50 41.55 44.00

Quantity Traded 881,772 335,192 70,040 1,287,004

Value Traded 440,886.00 13,961,787.49 3,025,265.20 17,427,938.69

Symbol LIVESTOCK

No. of Deals 25 25

Current Price 3.80

Quantity Traded 296,720 296,720

Value Traded 1,125,037.51 1,125,037.51

1,583,724

18,552,976.20

Daily Summary (Equities)

Processing Systems Daily Summary as of 11/03/2014 CHAMS PLC Printed 11/03/2014 14:36:49.049 Processing Systems Totals

INDUSTRIAL GOODS Building Materials

CONGLOMERATES

No. of Deals 8 293 51 352

Current Price 1.43 4.08 65.50

Quantity Traded Page 175,300 30,821,003 503,673 31,499,976

Symbol COSTAIN

31,499,976

157,984,960.86

No. of Deals 16 16

Current Price 1.58

Quantity Traded 276,657 276,657

Value Traded 436,914.44 436,914.44

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

Symbol JBERGER ROADS

No. of Deals 9 1 10

Current Price 75.00 8.46

Quantity Traded 53,306 37,000 90,306

Value Traded 3,799,468.50 311,170.00 4,110,638.50

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED

Symbol UAC-PROP

No. of Deals 20 20

Current Price 21.06

Quantity Traded 135,863 135,863

Value Traded 2,797,792.05 2,797,792.05

No. of Deals 1 1

Current Price 10.00

Quantity Traded 100 100

Value Traded 950.00 950.00

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

Realas Estate Development Totals Daily Summary of 11/03/2014 Printed 11/03/2014 14:36:49.049

Real Estate Investment Trusts (REITs) UPDC REAL ESTATE INVESTMENT TRUST Real Estate Investment Trusts (REITs) Totals

352

Symbol UPDCREIT

Daily Summary (Equities)

Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC

Daily Summary as of 11/03/2014 DANGOTE SUGAR REFINERY PLC Printed 11/03/2014 14:36:49.049 FLOUR MILLS NIG. PLC.

HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. UNION DICON SALT PLC. U T C NIG. PLC.

Value Traded of 13 252,800.00 124,681,050.81 33,051,110.05 157,984,960.86

Page

CONSTRUCTION/REAL ESTATE CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. JOS INT. BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

7,346,294.99

Symbol GOLDBREW GUINNESS INTBREW JOSBREW NB

No. of Deals 1 54 16 1 111 183

Current Price 0.68 180.00 27.99 3.77 148.50

Quantity Traded 2,838 1,131,033 54,355 9,145 1,384,753 2,582,124

Value Traded 2,014.98 203,551,872.42 1,487,245.75 32,830.55 206,869,432.29 411,943,395.99

Symbol 7UP

No. of Deals 21 21

Current Price 82.64

Quantity Traded 27,619 27,619

Value Traded 2,396,500.63 2,396,500.63

No. of Deals 24 68 24 56 1 43 2 (Equities) 1 2

Current Price 9.50 10.88 78.00 4.09 0.50 13.07 22.01 13.51 0.57

Quantity Traded 86,902 1,565,157 66,610 1,985,507 2,000 354,295 105 50 4,840

Value Traded 814,267.25 17,158,382.62 5,075,874.88 8,162,974.11 1,000.00 4,614,332.92 2,195.55 642.00 2,662.00

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR MULTITREX NASCON NNFM Daily Summary UNIONDICON UTC

Page

Symbol

No. of Deals 221

Current Price

Quantity Traded 4,065,466

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

Symbol CADBURY NESTLE

No. of Deals 39 133 172

Current Price 85.00 1,026.35

Quantity Traded 105,712 175,446 281,158

Value Traded 8,793,474.15 180,385,038.52 189,178,512.67

Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals

Symbol VITAFOAM VONO

No. of Deals 9 2 11

Current Price 4.59 1.66

Quantity Traded 26,250 1,200 27,450

Value Traded 116,252.50 1,896.00 118,148.50

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

Symbol PZ UNILEVER

No. of Deals 38 44 82

Current Price 35.00 46.93

Quantity Traded 238,102 278,015 516,117

Value Traded 8,285,066.84 12,909,757.77 21,194,824.61

7,499,934

660,663,713.73

Quantity Traded 59,853,066 24,053,547 313,889 1,078,684

Value Traded 469,279,876.94 164,766,904.30 4,567,355.92 2,479,681.94

CONSUMER GOODS Totals

ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC Daily Summary as of 11/03/2014 Summary on Board EQTY PrintedActivity 11/03/2014 14:36:49.049 FINANCIAL SERVICES

690 Symbol No. of Deals ACCESS 179 DIAMONDBNK 117 Daily ETI Summary (Equities) 43 FIDELITYBK 49

Page

No. of Deals 297 144 40

Current Price 25.16 3.81 2.30

Quantity Traded 13,937,485 8,016,100 22,234,521

Value Traded 357,795,143.33 30,996,420.26 49,762,417.24

No. of Deals 164 62 39 32 546 1,712

Current Price 7.63 10.18 0.50 1.08 21.99

Quantity Traded 4,768,040 569,553 24,476,541 1,435,000 34,064,756 194,801,182

Value Traded 36,245,072.39 5,689,227.98 12,238,270.50 1,518,098.47 752,199,449.86 1,887,537,919.13

Insurance Carriers, Brokers and Services Symbol No. of Deals AIICO INSURANCE PLC. AIICO 36 CONTINENTAL REINSURANCE PLC CONTINSURE 1 CORNERSTONE INSURANCE COMPANY PLC. CORNERST 9 GREAT NIGERIAN INSURANCE PLC GNI 5 GUINEA INSURANCE PLC. GUINEAINS 3 CONSOLIDATED HMARKINS 1 Published by The Nigerian StockHALLMARK Exchange ©INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC INTENEGINS 8 MANSARD INSURANCE PLC MANSARD 11 N.E.M INSURANCE CO (NIG) PLC. NEM 36 NIGER NIGERINS 7 Daily Summary as of INSURANCE 11/03/2014 CO. PLC. OASIS INSURANCE PLC OASISINS 10 Printed 11/03/2014 14:36:49.049 PRESTIGE ASSURANCE CO. PLC. PRESTIGE 5 REGENCY ALLIANCE INSURANCE COMPANY PLC REGALINS 1 SOVEREIGN TRUST INSURANCE PLC SOVRENINS 1 Daily Summary (Equities) STANDARD TRUST ASSURANCE PLC STACO 1 UNITY KAPITAL ASSURANCE PLC UNITYKAP 1

Current Price 0.80 1.07 0.56 0.53 0.50 0.50 0.64 2.25 0.79 0.50 0.52 0.56 0.50 0.50 0.50 0.50

Quantity Traded 2,386,082 3,000 366,896 312,000 7,500 8,000 Page 382,109 556,870 11,378,400 66,000 2,696,489 754,381 58,025 10,000 63,800 2,000

GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC.

Symbol GUARANTY

Current Price 7.77 6.80 14.50 2.30

Value Traded 35,832,331.33

SKYEBANK Daily Summary (Equities) STERLNBANK

Symbol UBA UBN UNITYBNK WEMABANK ZENITHBANK

Activity Summary on Board EQTY

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

Current Price 0.72

Quantity Traded 3,069,416 3,069,416

Value Traded 2,157,459.52 2,157,459.52

Symbol CWG NCR TRIPPLEG

No. of Deals 3 1 1 5

Current Price 5.85 15.99 1.97

Quantity Traded 700 30 10,720 11,450

Value Traded 3,892.00 456.00 20,153.60 24,501.60

Symbol CHAMS

No. of Deals 51 51

Current Price 0.54

Quantity Traded 8,788,216 8,788,216

Value Traded 4,605,414.54 4,605,414.54

11,869,082

6,787,375.66

Quantity Traded

Value Traded

Daily Summary (Equities) Symbol

No. of Deals

Current Price

Page

No. of Deals 59 195

Current Price 0.89

Quantity Traded 14,361,451 33,413,003

Value Traded 12,376,691.15 27,315,667.49

Symbol AFRIPRUD CUSTODYINS DEAPCAP FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 134 25 1 566 65 1 8 85 885

Current Price 3.89 2.10 0.99 12.50 3.40 0.63 21.25 2.66

Quantity Traded 3,579,511 798,320 2,000 29,000,982 11,708,570 32,561 37,526 3,567,680 48,727,150

Value Traded 14,052,898.20 1,705,647.00 1,900.00 368,097,741.04 39,979,464.70 19,536.60 758,936.74 9,823,522.56 434,439,646.84

276,941,335

2,349,293,233.46

2,792 Symbol FIDSON GLAXOSMITH MAYBAKER NEIMETH PHARMDEKO

No. of Deals 37 26 3 2 4 72

Current Price 3.07 70.00 2.14 1.76 1.57

Quantity Traded 1,678,540 168,804 21,630 2,700 2,010 1,873,684

Page

No. of Deals 46 7 31 18 91 4 1 33 231

Current Price 16.98 9.77 45.25 9.70 240.00 0.61 5.13 111.00

Quantity Traded 1,159,222 69,200 144,260 Page 170,219 1,003,362 27,500 5,000 1,167,595 3,746,358

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

Symbol CUTIX

No. of Deals 7 7

Current Price 1.95

Quantity Traded 221,200 221,200

Value Traded 428,908.01 428,908.01

Packaging/Containers BETA GLASS CO PLC.

Symbol BETAGLAS

No. of Deals 4 4

Current Price 19.45

Quantity Traded 59,999 59,999

Value Traded 1,146,380.90 1,146,380.90

4,027,557

397,763,136.98

Current Price 0.50

Quantity Traded 2,521,781 2,521,781

Value Traded 1,261,000.50 1,261,000.50

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

OIL AND GAS Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

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

242 Symbol No. of Deals Daily Summary (Equities) JAPAULOIL

44 44

SERVICES Apparel Retailers Daily Summary as of 11/03/2014 LENNARDS (NIG) PLC. Printed 11/03/2014 14:36:49.049 Apparel Retailers Totals

Page

Value Traded 19,508,305.70 674,045.33 6,682,637.83 8 of 13 1,571,987.58 238,032,561.01 17,600.00 25,500.00 129,675,210.62 396,187,848.07

Symbol OANDO

No. of Deals 180 180

Current Price 18.00

Quantity Traded 3,176,977 3,176,977

Symbol BECOPETRO CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 1 31 26 4 21 1 16 100

Current Price 0.50 50.00 3.71 104.00 123.00 54.44 166.05

Quantity Traded 10,000 143,168 716,610 2,298 56,294 500 25,868 954,738

Value Traded 5,000.00 6,910,111.22 2,651,898.23 227,042.40 6,964,233.23 25,860.00 4,345,943.60 21,130,088.68

6,653,496

80,200,522.56

OIL AND GAS Totals

324

Value Traded 57,809,433.38 57,809,433.38

Symbol LENNARDS

No. of Deals 1 1

Current Price 3.31

Quantity Traded 1,020 1,020

Value Traded 3,213.00 3,213.00

Symbol

No. of Deals 1 1

Current Price 1.35

Quantity Traded 6,000 6,000

Value Traded 7,740.00 7,740.00

Symbol REDSTAREX TRANSEXPR

No. of Deals 8 18 26

Current Price 4.40 2.75

Page Quantity Traded 132,800 464,900 597,700

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 19 19

Current Price 0.50

Quantity Traded 3,832,486 3,832,486

Value Traded 1,929,362.86 1,929,362.86

Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Symbol IKEJAHOTEL

No. of Deals 6 6

Current Price 0.66

Quantity Traded 102,830 102,830

Value Traded 69,222.70 69,222.70

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

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 3 2 5 10

Current Price 1.80 1.90 4.08

Quantity Traded 24,888 7,000 17,770 49,658

Value Traded 43,908.48 13,150.00 73,044.70 130,103.18

Symbol ABCTRANS

No. of Deals 10 10

Current Price 0.97

Quantity Traded 257,705 257,705

Value Traded 247,719.25 247,719.25

Symbol NSLTECH

No. of Deals 8 8

Current Price 0.50

Quantity Traded 142,440 142,440

Value Traded 71,220.00 71,220.00

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

RTBRISCOE Daily Summary (Equities)

Activity Summary on Board EQTY SERVICES Published byCourier/Freight/Delivery The Nigerian Stock Exchange © RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Road Transportation ASSOCIATED BUS COMPANY PLC Daily Summary as of 11/03/2014 Road Transportation Totals Printed 11/03/2014 14:36:49.049 Specialty SECURE ELECTRONIC TECHNOLOGY PLC Specialty Totals

Daily Summary (Equities)

Page

Activity Summary on Board EQTY SERVICES Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol AIRSERVICE NAHCO

No. of Deals 1 24 25

SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

Current Price 3.08 5.84

10Value Traded of 13 585,770.00 1,276,275.00 1,862,045.00

Quantity Traded 3,271 252,556 255,827

Value Traded 9,813.00 1,445,880.61 1,455,693.61

106

5,245,666

5,776,319.60

4,781

347,697,380

3,701,498,134.98

Quantity Traded 2,000 2,000

Value Traded 2,620.00 2,620.00

2,000

2,620.00

Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals

Symbol MCNICHOLS

CONSUMER GOODS Totals

Value Traded 5,220,439.04 11,855,079.80 46,390.40 4,536.00 3,155.70 17,129,600.94

Symbol ASHAKACEM BERGER CAP CCNN DANGCEM IPWA PORTPAINT WAPCO

Activity Summary on Board EQTY

Value Traded 1,919,208.32 3,090.00 202,527.76 169,400.00 3,750.00 4,000.00 5 of 13 241,273.17 1,257,973.73 9,260,113.00 33,000.00 1,354,254.50 423,473.36 29,012.50 5,000.00 31,900.00 1,000.00

Symbol WAPIC

FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

No. of Deals 11 11

INDUSTRIAL GOODS Totals

Activity Summary on Board EQTY FINANCIAL SERVICES Banking UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC Published by The Nigerian Stock Exchange © CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC IPWA PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

Daily Summary as of 11/03/2014 Packaging/Containers Totals Printed 11/03/2014 14:36:49.049

502,926

Food Products Food Products Totals

FINANCIAL SERVICES Daily Summary as of 11/03/2014 Printed 11/03/2014 Banking14:36:49.049

17,129,600.94

Activity Summary on Board EQTY Symbol AGLEVENT TRANSCORP UACN

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

1,873,684

Symbol COURTVILLE

ICT Totals

Activity Summary on Board EQTY Diversified Industries Published by The Nigerian Stock Exchange © A.G. LEVENTIS NIGERIA PLC.

No. of Deals 1 1 1

Current Price 1.37

Daily Summary as of 11/03/2014 Printed 11/03/2014 14:36:49.049 ASeM Board Totals

2,000

2,620.00

Equity Activity Totals

4,782

347,699,380

3,701,500,754.98

Page

50 NEWS | WORLD

Sanctity of Truth

Wednesday, March 12, 2014

Ousted Ukrainian President foresees civil war Sylva Okereke

with Agency Report

usted Ukrainian President, Viktor Yanukovych has backed Russia’s version of the situation in his country, saying a junta in Kiev had provoked Crimea to secede by spreading lawlessness and refusing to protect civilians from violence. “The cities are being patrolled by masked gunmen,” said Yanukovych, who made a statement to the press in the southern Russian city of Rostov-on-Don. This new government is firing officers from the army, those officers, who don’t

want lawlessness committed against civilians. They want civil war to break out’, he stated Tension is still high in Ukraine as pro-Russian forces stronghold on Crimea: Russian forces tightened their grip on Crimea, despite a U.S. warning to Moscow that annexing Southern Ukrainian region would close the door to diplomacy in a tense East-West standoff. Yanukovych, who read from a statement in Russian and did not take questions, accused the West and the United States of backing fascists in Ukraine, another regular allegation being made by Russian authorities. “There is a gang of ultrana-

South Africa expels Burundi diplomat

outh Africa has expelled a Burundi diplomat in connection with a raid on an exiled Rwandan general's Johannesburg home, according to a Burundian official. The announcement came on Monday and is viewed as part of an ongoing diplomatic spat between South Africa and Rwanda that was sparked by a raid on former Rwandan army chief General Faustin Kayumba Nyamwasa's home on March 4. "The Burundi diplomat is accused of collaborating with suspects," Gervais Abayeho, a senior media adviser for Burundi's presidency, told Reuters

tionalists and fascists operating the government. I would like to ask those, who cover for these dark forces in the West: Are you blind? Have you forgotten what fascism is?”, he asked. Yanukovych last appeared in public on February 28, in a press conference in Rostov, when he asserted he was still the legal President of Ukraine and that

gate its legality. American law, he asserted, prevented aid to unconstitutional governments. The deposed president began his statement by declaring he was alive, contrary to some rumors that had suggested his death. He was still commander in chief of Ukraine’s armed forces, he said, and while he did not try to give any military orders in his statement he said that Ukrainian officers knew better than to take orders from a “fascist government.” Although Putin reportedly dislikes Yanukovych, and thought he should have acted more harshly against protestors, he has given him refuge in Russia. Yanukovych said he would return to Ukraine when conditions improved.“You must know that one day the country will unite,” he said. “The people will not remain so blinded.”

news agency. "Burundi is reviewing information about South Africa's decision before it can react," Abayeho added. South Africa expelled three Rwandan diplomats last week and Rwanda, which borders Burundi, retaliated by ordering out six South African diplomats. The row has strained ties between two of the African states involved in efforts to bring peace to eastern Democratic Republic of Congo, where South Africa has troops in a UN brigade that fought against rebels last year who UN experts said were backed by Rwanda.

Taliban warns Afghans on presidential election

aliban on Monday warned Afghans against taking part in the upcoming presidential election and ordered their fighters to "use all force" possible to disrupt the polling in the militant group's first formal threat of violence over the April 5 vote. Spokesman Zabihullah Mujahid said in a statement emailed to media that the Taliban are also telling clerics across to country to spread the word that the election is "an American conspiracy." The April vote is seen as key to Afghanistan's stability ahead of the final withdrawal of international combat troops at the end of December. Previous elections have been fraught with allegations of widespread fraud and some surveys have shown a deep mistrust among most Afghans toward the polling and candidates. President Hamid

Viktor Yanukovych

he was not calling upon Russia to intervene militarily. The next day, Russia’s parliament authorized President Vladimir Putin to send troops to Ukraine and soon after Russia asserted that Yanukovych had requested for intervention. On March 6, after gunmen took over the regional parliament building in the Crimean city of Simpferopol, a pro-Russian leadership was installed. Then the regional parliament voted behind closed doors for Crimea to leave Ukraine and join Russia, setting a referendum for Sunday to validate their decision. Yanukovych railed against the United States on Tuesday for offering $1 billion in aid to the new Ukrainian government in Kiev and said he intended to ask the U.S. Congress, Senate and Supreme Court to investi-

Karzai is not in the race since he cannot run for a third term. Monday's Taliban statement told Afghans they should "reject completely" the election and not put themselves in danger by going to the polls. Afghanistan mourns 21 troops killed in brazen Taliban attack. Mujahid did not specify what kind of attacks the Taliban planned, but in the 2009 presidential election, the militants assaulted and killed election workers, targeted candidates and also attacked voters, in some cases cutting people's fingers off. "We have given orders to all our mujahedeen (holy warriors) to use all force at their disposal to disrupt these upcoming sham election to target all its workers, activists, callers, security apparatus and offices," the statement said.

John Kerry inspecting some sites in the crisis-torn Ukraine

Search for missing Malaysian aircraft intensifies

ne of the two men traveling on a missing Malaysian Airlines jetliner was an Iranian asylum seeker, officials said on Tuesday, as authorities expanded search for the Boeing 777 on the opposite side of the country, from where it disappeared nearly four days ago with 239 people on board. In the absence of any sign that the plane was in trouble before it vanished, speculation has ranged widely, including pilot error, plane malfunction, hijacking and terrorism, the last because two passengers were traveling on stolen passports. The terrorism theory weak-

ened after Malaysian authorities determined that one of the two men was an Iranian asylum seeker. Interpol Secretary General, Ronald Noble said at a news conference on Tuesday that the international police agency had identified two Iranian men, Pouri Nour Mohammadi, 18 and Delavar Seyed Mohammad Reza, 29. Noble said based on investigations carried out into the men to date, they were "probably not terrorists." The Chief of Police in Kuala Lumpur said earlier in the day that Mohamadi was apparently trying to fly to Europe

as an asylum seeker. The plane took off from Kuala Lumpur, on the western coast of Malaysia, early Saturday en route to Beijing. It flew overland across Malaysia and crossed the eastern coast into the Gulf of Thailand at 35,000 feet. There it disappeared from radar screens. The airline says the pilots didn't send any distress signals, suggesting a sudden and possibly catastrophic incident. In a statement, Malaysia Airlines said search and rescue teams "have expanded the scope beyond the flight path to the West Peninsula of Malaysia at the Straits of Malacca."

Quadri eyes Commonwealth T/Tennis gold Ajibade Olusesan

igeria table tennis star, Aruna Quadri, believes he can reclaim gold medal for Nigeria in the men’s single event of the Commonwealth Games when the tourna-

ment begins in Glasgow, Scotland, later this year. The country last won gold in the men’s singles event in Melbourne 2002, when Segun Toriola shocked the world. Quadri told our correspondent that he could repeat that

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

feat for the country this time around. “We did not do well the last time, we were there, but the experience would help us this time around. Personally, I think Nigerian would expect me to win something CONTINUED ON PAGE 55

Did you know?

NEW TELEGRAPH

newtelegraphonline.com/sports

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

That legendary Brazilian forward, Pele, is the only player to win three World Cups: in 1958, 1962 and 1970

WEDNESday, march 12, 2014

Lille ’ll fight for Champions League spot – Enyeama Ifeanyi Ibeh

uper Eagles goalkeeper, Vincent Enyeama, has told New Telegraph that he and his Lille teammates will work hard to secure a spot to next season’s UEFA Champions League The top-two teams at the end of the French Ligue 1 season are guaranteed automatic berths to the group stage of the world’s most lucrative club tournament, while the third-place side will

Enyeama in action

Competition for shirts secret of USA’94 success –Ikpeba

Man Utd want ₤15m for Van Persie

}p-52

}p-54

advance to a two-legged playoff, with the winner progressing to the group stage. With 10 games to the end of the season, runaway leaders, PSG, and second-placed Monaco appear set to grab the top-two spots, but third-placed Lille and four other clubs – St. Etienne, Lyon, Marseille and Reims – are in a race for the last Champions League spot. Lille defeated Montpellier 2-0 last weekend with Enyeama coming to his CONTINUED ON PAGE 55

Minister, senate meet over nff’s world cup budget }p-55

52 SPORT

Sanctity of Truth

Wednesday, March 12, 2014

Countdown to Fifa World Cup

Competition for shirts secret of USA’94 success –Ikpeba 1997 African footballer of the year, Victor Ikpeba in an exclusive interview with New Telegraph EMMANUEL TOBI reveals the secret behind the success of the 1994 squad and the recipe for success for the current Super Eagles as the team prepare for the world cup in Brazil. Excerpts: USA 1994 World Cup experience The experience at the 1994 World Cup in the United States was great; we were the first set of players in Nigeria to qualify for the World Cup. I think I was one of the youngest in the team, competition for shirts was healthy and there was a brotherly atmosphere in the team. Although, I did have my own scary moments then, I could have been dropped, but thank God I was able to make the team, but I don’t want to dwell on that, but rather on the positives, the excitement, the mood in the team was fantastic. We were all looking forward to the championship; I think it was one of the best moments we will never forget in our careers. Looking at the caliber of players we had in the squad after winning the Nations Cup, it was just great. Starting the competition on a very bright note, our first game in Dallas was an amazing experience, even though I didn’t play, being part of the team was enough. Our daily activities -from the training, to the restaurant and so on, I think that’s what’s important in a World Cup, the family thing. Uniqueness of the team Maybe experience, which is very vital, most of us were playing abroad then, the core of the team were playing in Belgium, some of us in France, some of the other guys were in Germany, I can say it was the quality of the bunch of talented players coming together, there was confidence in the team, and I also think the manager, Clemence Westerhof, did a very good job, he instilled discipline in the team, which was very key and also there was competitiveness, you know if you don’t do well you might just lose your position, which helped us to qualify Nigeria for her first ever World Cup in America. Relationship among players You can’t really say the relationship was good, although there was mutual respect for one another, but the competition was there, the important thing was that there was togetherness. For you to do well in any competition, there must be togetherness, definitely some players will not be happy when they are not playing, but that was and still is part of football, most of those players who couldn’t play at that World Cup took it as one of those things, in as much as those that were playing were doing a good job, the team spirit was good. It was just unfortunate that we were unable to get past Italy, I think we deserved to beat Italy. Lack of concentration, inexperience didn’t help us against Italy, but what really made the team tick was the manager, the coach we had then, players were playing to instruction and I can say the manager

played a very key role then. Participating at the World Cup for the first time and getting to the second round was not a bad outing for the country, but like I said, it would have been good if we were able to get to the quarter final, who knows maybe we would have reached the semi-final. Brazil 2014 It’s going to be colourful, I am sure it is going to be more colourful than what we experienced in South Africa. it’s going to be yellow everywhere in Brazil, the English were the founders of football, but I think Brazil has made it more colourful with the beautiful football they play, the whole world will be in Brazil I am sure, the South Americans, people from Africa, it is going to be a very special World Cup. Chances in Brazil I think we are in a very tricky group, it is only a fool that will think it is going to be easy, I am not talking as a fan, but as someone who played the game to the highest level, you don’t unIkpeba, Inset: Yekini in USA’94 derestimate any country at the world stage, the federation also knows that it is not going to be easy. We don’t really know much about teams like Bosnia and Iran, I just hope the technical crew can do something about that. Iran have played in the World Cup before, Bosnia are making their debut, they have quality players, they have the like. Dzeko, who is very dangerous when it comes to aerial balls, these countries will not be easy and I am happy that Keshi came out to say that it is a tough group. Goalkeepers For the goalkeeping department, Keshi has his three goalkeepers, Vincent Enyeama has been doing a fantastic job, he has really promoted Nigerian

football in France, we are very proud of that. He struggled at the beginning, before going on loan but he came back to show that the team can count on him, he went unbeaten for so many games. Austin Ejide has been there too, he has played at the highest level, he has played in France before and now he is playing in Israel, for the third place, Agbim Chigozie was the goalkeeper at the AFCON, but I think other goalkeepers should be given a chance to fight for that third spot, that’s my personal opinion, I am not condemning the guy. Defenders: The defence is very key and we must really pay

SPORT 53

Sanctity of Truth

Wednesday, March 12, 2014

Competition for shirts secret of USA’94 success Enyimba target upset against –Ikpeba Sunshine in Akure Nigerian League Rendezvous with charles Ogundiya

charlesog2001@yahoo.com, charles.ogundiya@newtelegraphonline.com

08098042287

emphasis on the defence, we have the likes of Yobo, Egwueke, Oboabona, Efe Ambrose, Omeruo, Echiejile and the other guys, I think it is a good thing that most of them play abroad. Maybe we are not happy that some of them are not playing regularly for their clubs, but you cannot really judge them on account of their inactivity. But for me the biggest comeback was Joseph Nigeria duo of Uche Okechukwu (left) Yobo coming back to and Austin Eguavoen trying to stop England for Norwich. Italian striker Roberto Baggio during In Nigeria we always USA’94 World Cup look at age, but for me, age doesn’t count, but experience. to him, as he is a bulky guy who is physically fit. Midfielders We are talking about this new gen- Sacrificing our best players eration; the Ogenyi Onazis, the John The problem was that Ik Uche had a Obi Mikels. I would have love to see very disastrous Nations Cup; football Joel Obi back in the national team; is about competition. Just because 23 he is a good player; he has a lot of cre- players won the AFCON doesn’t mean ativity in his game, just that he has the 23 players must go to the World this injury problem. He is a left footer Cup; players have to come because and I think it is very important we of their present form. Apart from have a left footer in our midfield. The playing well in his club, what does only problem is that we are lacking he bring to the team? If Keshi is comcreativity in the middle of the pack. ing out that he doesn’t want Ik Uche, If the likes of Ejike can show what this is not the first time a manager he did in CHAN; if he can give those will say he does not want a particular passes, that will be great. The likes of player in his team, not because he is Emenike and Victor Moses will finish not doing well in his club. I will love Keshi to forgive the guy and Ik Uche such chances. should also understand that no player is bigger than the country, no player Attackers The striking force is good. They is indispensable. won the AFCON and I think Keshi should keep faith with those guys, Appeal to Keshi they have really done well. The guys Our players get carried away somewere fantastic against Cote d’ Ivoire, times when they are with the national Mali, and that stubborn Burkina-Faso team thinking it is easy. Yes it is easy side. I love Bright Dike, just that he against African teams, but when will be out due to injury. I love what it comes to the World Cup, it is not he did against Italy in that friendly easy. Why are countries like Germany, match and he could have been an as- Spain, Italy the best? When they lose set for the World Cup. Emenike is key the ball they all come back to defend. and the midfielders need to feed him I will appeal to Keshi personally and well, they need to get those crosses as a matter of fact, all Nigerians should appeal to him to give the likes of Osaze and Uche the opportunity to come back to the national team, but if he says otherwise, there is nothing anyone can do about it. We don’t want a situation where we will force him to bring in a player he doesn’t want which can cause problems for him in the national team. I really understand what Keshi is trying to do, he needs to carry a team and not individual to the World Cup. But if he gives those players opportunities, they should not think of themselves alone, but of the team. They should be a team member. Keshi is trying to say I need team players, I don’t need individual players. Ikpeba

nyimba will hope to put behind them their exit from the CAF Champions League as they take on Sunshine Stars in Akure in one of the rescheduled week one matches of the Glo Nigeria Premier League on Thursday. Last season, the match ended 2-0 in favour of Sunshine Stars and the team have been talking tough this time around, hoping to inflict another defeat on

Enyimba. But according to Enyimba striker, Ifeanyi Ede; “We need to quickly bounce back from the Champions’ League elimination, and there is no better way than a victory against Sunshine Stars. We are moving straight to Akure from Mali.” In his own assertion, Sunshine Stars coach, Henry Abiodun said; “We are not scared of Enyimba, we defeated them here last

season and we are going to repeat same this season. We need to start the season on a good note which will put us in a better position to achieve our target of playing in the continent next year.” In other rescheduled matches, duo of Confederation Cup campaigners, Bayelsa United and Warri Wolves will host Sharks of Port-Harcourt and ElKanemi Warriors of Maiduguri respectively.

Nasarawa United vs Enyimba last season

Expulsion: Reps summon LMC, Giwa, Nembe T he House of Representatives Committee on Sports have summoned the League Management Company, Nigeria Football Federation, Giwa FC and Nembe City to a meeting in Abuja on Wednesday(12th March) following a petition written by Nembe City over the decision of the LMC to throw Nembe City and Giwa FC out of the 2013/14

Glo Premier League. The duo of privately owned clubs, Nembe FC and Giwa FC will know their fate after the meeting on their continuous participation in the Glo Premier League for the new season after their exclusion by the League Management Company few days to the kickoff of the season. Meanwhile, the Execu-

tive committee of the Premier League Club Chairmen and Managers (Club Owners) summoned the chairmen of the two clubs to a meeting in Abuja last night, Tuesday, in the aftermath of the exclusion of the two teams from the Glo League opening day fixtures due to alleged noncompliance with registration guidelines of the LMC.

Unheralded Akinbode out to make a mark at El-Kanemi

l-Kanemi Warriors new signing, Jelili Akinbode, has set his sights on excelling for the Maiduguri-based side this season. Just over a year ago, Akinbode was playing football at the grassroots level, but he has now become one of the most sought-after defenders in the Nigeria Professional Football League. Currently in the camp of El-Kanemi Warriors for the new season, Akinbode told New Telegraph he is

ready to prove himself in the colours of the Desert Scorpions. “I am going to prove myself here at El-Kanemi,” said the Kwaraborn player. “If I was told last year that I would be playing topflight football at this stage of my life, I would have laughed over it. But all glory to God, I am now playing at this level. “But I cannot rest on my laurels as I know I have to keep working hard and giving my best like I have always done, and I know God will

crown my efforts.” Akinbode began his professional career with Bolowotan FC of Lagos last year, but was quickly snapped up by Nigeria National League side, Akwa Starlets, after just a few weeks with Bolowotan. He however helped the modest club to the quarterfinals of the 2013 Federation Cup. At the end of the season Akinbode was promoted to Starlets’ senior side, Akwa United, but not long afterwards he was grabbed by ElKanemi Warriors.

54 SPORT | INTERNATIONAL FOOTBALL

Anything possible against Barcelona - Nasri

Manchester City winger Samir Nasri battling Andre Iniesta during the first leg of the UEFA Champions League

Sanctity of Truth

Wednesday, March 12, 2014

anchester City midfielder Samir Nasri felt “hungover” after the team’s shock FA Cup exit but has backed his team to bounce back in today’s Champions League encounter a g ainst Barcelona. Nasri, who scored in City’s 2-1 shock defeat by Wigan Athletic on Sunday, felt the team “woke up after 65 minutes” in the quarter-final and termed it an overall “bad performance”. “At training we are going to think Barcelona and try to think positive and get a result there.” Barcelona suffered a shock 1-0 La Liga defeat at struggling Valladolid

Man Utd want ₤15m for Van Persie

Zenit sack Spalletti over European failure

enit St Petersburg, owned by state-controlled gas giant Gazprom, have sacked their Italian manager Luciano Spalletti, the Russian club confirmed on Tuesday. Spalletti achieved domestic success with the three-time national champions but their hugely ambitious owners have lost patience with his failure to make a breakthrough in the Champions League after several big money signings. “The club governing body have decided to sack Spalletti,” Zenit said in a statement. “The head coach’s assistant Sergei Semak will serve as the club interim manager.” Spalletti arrived from Italy’s Serie A giants Roma in December 2009 and led the Saint Petersburg outfit to two Russian league titles, having also delivered a first Russian Cup in 11 years soon after his appointment. Spalletti initiated a series of purchases of expensive Russian and foreign players who failed to make Zenit a serious threat in Europe.

CHAMPIONS LEAGUE FIXTURES

Barcelona VS Man City - 8.45pm PSG

VS Leverkusen - 8.45pm

Leverkusen eye miracle against PSG

ayer Leverkusen visit Paris SaintGermain in need of a miracle if they are to reach the quarteranchester United are may be lucky to get finals of the Champions willing to sell Robin van that for a 30-yearLeague. Persie this summer for a old. The German side enknockdown £15 million. Another dured a disastrous first The People says United boss stumbling leg at the Bay Arena, with PSG cruising to David Moyes is ready to cut his b l o c k the losses on the Dutchman, who is an emphatic 4-0 win PSG’s Zlatan Ibrahimovic has looked a shadow of the salary of thanks in part and Bayer Leverkusen’s to a double player who fired United to the £180,000 a Emir Spahic battlling for the ball during the UEFA from Swew e e k title last season. Champions League Round of Van Persie cost United £24mil- pocketed by the den striker 16 first leg match Zlatan Ibralion when he moved from Arse- striker, who nal and United would be looking is only halfway himovic. to recoup £15m – although they through a four-year deal. Sami Hyypia’s men now have a mountain to climb and go into the fixture in poor form having won only two of nine games in all competitions since the mid-season break. In addition, PSG have a dominant orld football supremo Sepp Blatter said Tuesday that the FIFA record at the Parc des Princes, where Congress will consider political the Ligue 1 leaders have suffered only and human rights situations within one defeat since November 2012. Laurent Blanc’s men have concedbidding countries before awarding ed only five goals in seven European future World Cups. “The Congress will be called in to matches so far this term and have not award the World Cup in the future and shipped four goals since a 4-4 Ligue I will make sure that the Congress can 1 draw with Lyon back in February also look at the social, cultural, let’s 2012. say the human rights situation,” the Leverkusen’s task has been made Blatter 78-year-old Blatter said in an interharder by an injury to midfielder Jens Hegeler, who tore ankle ligaview with the German Press Agency The next World Cup to be awarded dpa. is the 2026 tournament in five years. ments in the 1-1 draw with Hannover Any changes in consideration of fuThe awarding process was last Saturday to join Robbie Kruse on ture World Cup hosts will not impact changed after criticism of the decitheir long-term injury list. Russia from hosting the 2018 World sion to name the 2018 and 2022 World The visitors will also be without deCup and Qatar in 2022. Cup hosts at the same time. fender Emir Spahic, who is suspended “We cannot change anything reThe FIFA Executive Committee after being sent off in the first leg. By contrast, PSG should be able to garding the World Cup planning. We with its some two dozen members will play out 2014. We don’t have any had previously handed out the World welcome back Uruguay striker Edinproblem at the moment with 2018 in Cup. But now it will be done by the son Cavani, who missed Saturday’s 3-0 Russia and the problems with Qatar Congress with all 209 FIFA members league success at Bastia to attend to a are known,” Blatter said. personal matter in his homeland. having a vote.

M Van Persie

on Saturday in one of their worst performances of the season, offering hopes to Manuel Pellegrini’s team. Barcelona suffered a shock 1-0 La Liga defeat at struggling Valladolid on Saturday in one of their worst performances of the season, offering hopes to Manuel Pellegrini’s team. “I think anything is possible in football,” Nasri said. “I saw them this week against Valladolid. It just shows they are human.” Nasri has twice tasted bitter comprehensive defeats at Barcelona with former club Arsenal, including a 4-1 defeat in 2010. “It is not a good memory but at the time I thought they were better than they are today. “We played against Messi, who was unplayable. He scored four goals against us. I hope it is not the going to be the same.

FIFA will consider human rights -Blatter

SPORT 55

Sanctity of Truth

Wednesday, March 12, 2014

Anichebe upbeat on West Brom relegation battle

Anichebe

Lille ’ll fight for Champions League spot – Enyeama

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

side’s rescue on three occasions and he will be hoping to keep another clean sheet when Lille welcome 15th placed Nantes to the Stade Pierre Mauroy on Saturday. “It was a good game against what was a good Montpellier team. They are a difficult side to play against, but credit to everyone for getting the win,” Enyeama told New Telegraph on the telephone on Monday. “Our focus is now on the next game

Newcastle boss bag seven-game bans

lan Pardew has been been suspended for seven matches and fined £60,000 for his headbutt on Hull’s David Meyler. The Football Association punishment is divided into a three-game stadium ban and a four-match touchline ban. The former West Ham and Charlton boss has accepted the charge and said: ‘As I have made clear, I deeply regret the incident and again wholeheartedly apologise to all parties for my conduct, which I understand was not acceptable. ‘I will accept the punishment handed down by the FA today. My focus now turns to preparing the team for this weekend’s game against Fulham and finishing the season as strongly as possible.’ Pardew had already been fined £100,000 by his club for the touchline incident in the Magpies’ 4-1 Premier League victory over the Tigers on March 1. Pardew’s first match back will be his team’s third-last Premier League game of the season at Arsenal.

against Nantes. We will do our best to win it and continue our push for the UEFA Champions League,” he added. Enyeama has featured in all of Lille’s 28 league games so far and has conceded just 18 goals. And according to the official site of the French Ligue 1, the Nigerian number one has made a total of 74 saves. He has kept 18 clean sheets in Ligue 1 this season, including 11 successive shutouts between September and December.

ictor Anichebe says West Brom can avoid relegation from the Premier League this season if they “stick together” and become hard to beat. Defeat to Manchester United on Saturday left West Brom 17th in the table and only out of the bottom three by virtue of their superior goal difference over Cardiff City. West Brom have only won once in their last 18 league matches and have yet to win under head coach Pepe Mel since he replaced Steve Clarke in January. Anichebe, who arrived at the Hawthorns at the start of the season, remains confident they have the quality to stay in the division but issued a rallying call for everyone to pull together.

Quadri eyes Commonwealth T/Tennis gold C O N T I N U E D F R O M PA G E 5 1

and I know I must not disappoint. It’s been a while that we won and I will like to work hard to make sure that we bring smiles on the faces of Nigerians this year. “We can win the men’s singles and doubles events, we can also do well in the team event too. Let us just hope for the best,” he said. He added that good outing in Glasgow might spark off the country’s

Minister, Senate meet over NFF’s World Cup budget Jude Opara Abuja

arely 24 hours after the Nigeria Football Federation indicated a budget deficit of N829.9m from the amount it proposed for the participation of the Super Eagles at the World Cup, the Minister and Chairman of the National Sports Commission, Dr. Tamuno Danagogo, and the Senate Committee on Sports on Tuesday held a meeting aimed resolving the impasse. The NFF had on Monday informed the House of Representatives Committee on Sports during its 2014 budget defence that the N1.2 billion contained in the budget approved by the federal government will not allow the African champions to prepare properly for the global soccer fiesta. General Secretary of the NFF, Musa Amadu, emphasised the need for the lawmakers to look into the issue which he said was very important if the national team was to prepare very well before the championship kicks off in June.

“The next couple of games against teams around us are the games that are important for us,” he told the club’s official website. “They’re the games we need to start picking up points from. “It’s going to be important between now and the end of the season to win our individual battles with our opponents. “We’re in a serious position and we need to pull our socks up and get some points. “It’s down to us as players to go out there and play as well as we can. “As long as we stick together we can get out of this.” Anichebe is the second-highest Premier League goalscorer at West Brom, with three goals to his name - bettered only by Saido Berahino’s tally of four.

“What we have budgeted for our preparation and participation is N2,084,053,765 but from indications I am getting, we are likely going to get only N1.2 billion for the world cup leaving a deficit of N829 million but we believe that this committee can come to the assistance of the NFF,” Amadu stated. Senator Adamu Gumba also informed the Minister, Dr. Tamuno Danagogo, that he should schedule a meeting where the two parties will put heads together to find a way of ameliorating the predicament of the NFF so as to enable the national team to be properly catered for before and during the championship. “The NFF is going to the World Cup and they are running in deficit but we will request government to come to their aid at every opportunity, we have been requesting government to come to their aid because they are doing very well and need the support of every Nigerian,” Gumba said. Chairman of the NSC, Dr. Tamuno Danagogo told journalists that the meeting was a fruitful one.

dominance in Africa even while acknowledging that they have lost their number one spot on the continent to Egypt. He, however, believed that the giant strides made by the new board of the Nigeria Table Tennis Federation could usher in good days. “Of course, I have what it takes to be Africa’s best. It’s been long that Nigeria has been number one in Africa; that was like our birthright in the past, but we have lost that now. Toriola was the best for ten years and that must motivate us the younger ones to challenge for that position,” he stressed.

Sport Trending

TWITTER |@NTelegraphSport

John Ogu Get well soon Guys. @LeonBalogun and @bbright19. lSuper Eagles midfielder, John Ogu, wishing his national team buddies, Leon Balogun and Bright Dike, a speedy recovery from their respective injuries. @ogujohnugo Drogba Foundation From 11/03/1978 until now,the movie is still shooting. Happy birthday to me!!!! @didierdrogba Salomon Kalou Happy bday big bro. U are just like à Good wine. U get greater with Time @fondationdrogba. @Skalhuno Samuel Eto’o Dear All, Thank you so much for all the birthday wishes. It means the world to me. 33..Jesus Christ Age! @setoo9 Joseph S Blatter From a FIFA veteran, to a FIFA World Cup veteran, Happy Birthday @setoo9. 10 March a good day. @SeppBlatter Vincent Kompany If any lessons have to be learned, it’s that anything is possible in football and that’s not unimportant considering the task that’s ahead. @VincentKompany Robin van Persie I wish @Kevin_strootman a speedy recovery so gutted for you my friend! I’m sure you will come back even stronger! @Persie_Official

World Record

On Marble After climbing a great hill, one only finds that there are many more hills to climb. – Nelson Mandela

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 12, 2014.

N150

The Australian small-scaled snake is the most venomous land snake in the world. It can inject 000.2 oz (60 mg) of venom, sufficient to wipe out several human adults.

Gusau and deconstruction of circulation of elite

ometime in 2012, in a private conversation with cerebral economist, chief Senas Ukpana, one time Minister of National Planning, who was then the Chairman of Nnamdi Azikiwe University Governing Council, I had canvassed the position that with the intensification of terrorism by new band of terrorists in Nigeria, called Boko Haram, that President Jonathan would do himself and the nation a world of good to invite General Aliyu Gusau back to the federal cabinet. Although Chief Ukpana had conceded that Gusau was eminently more than qualified for the position of Minister of Defence in the Federal Cabinet, he expressed reservation on the premise that this could be misconstrued by very many Nigerians as conferring on Gusau, the toga of indispensability. My immediate response was to say, as the Igbo would argue “adighi eji ikpe ochu amu ikpe”, roughly translated to mean that you don’t start your role in the judiciary with a murder case. This evidently will be courting disaster. Murder cases call for experience either in the bar or bench, and deep and sagacious knowledge of the law. So also is the fight against terrorism, particularly the variant that the nation is currently contending with. It is not a job for the boys. Last Wednesday March 5, 2014 General Gusau, arguably the best and most respected military intelligence officer that Africa has produced took oath of office as the new Minister of Defence, amidst the general and widespread feeling of exasperation amongst Nigerians on the seeming invincibility and indefatigability of the notorious terrorist organization – Boko Haram. President Jonathan, honestly appears to have woken up to the reality and the grim situation on ground by Gusau’s appointment. The implacable sect with its devious, odious and inexplicable motives has spread fear, anguish, pain and sorrow amongst many Nigerians, that, following its dastardly and barbaric attack on innocent students in a federal government college in Yobe state, the nation had witnessed in the past one week, demonstrations and protest matches in several state capitals, with what seemed to be the grand finale at Abuja, where Nigerian youths, at the instance of the first lady converged to denounce the patently evil and insidious operation of Boko Haram. Dame patience Jonathan almost shed tears as she pleaded with youths to distance themselves from

IvoryGlory Nkemdili Nnonyelu

terrorism and violence. On Gusau’s ageing shoulders lies the hope of millions of traumatized Nigerians. A thorough bred professional, former Chief of Army Staff and Former National Security Adviser, the usually taciturn, quiet and calculated Zamfara born General Aliyu Gusau is expected to introduce novel military strategies amongst other measures that will immediately de-escalate the tension in the north east, reduce the potency of the deadly group and the accompanying bloodshed, force the entrepreneurs of violence on an inexorable retreat and ultimate surrender. Failure to do this, would lead sadly to an unfortunate unmasking of the masquerade and demystification of the general. If this happens, it will serve as a further decimation of the strong man thesis that has for long been debunked in some other societies. C. Wright Mills, the American sociologist had argued in his seminal work “The Power Elite” that beneath the veneer of constitutionality and democracy, in all societies there is a coalition of persons (power elite) who takes major decisions on behalf of the society. These few are usually drawn from the different sectors of the society - military, bureaucracy, academia, business, etc. Given the understanding of the interplay of power by different segments of these groups, it is not difficult to see how power is transferred from one elite group to the other, rotating in perpetuity among themselves to the exclusion of majority of citizens. One recalls the era of Hausa-Fulani oligarchy that had its enabler – the Kaduna mafia as the power elite that held sway for more than 35years of Nigeria’s inde-

Nigeria’s political history is replete with a scandalous circulation of elite as if the nation with all its resources has been ceded to them as their inheritance and private estate

pendent history. A litany of poor results in their governance profile, the emergence of Obasanjo on a self-declared second missionary journey, the death of Umaru Yar’Adua, and the rise of a complete outsider - Jonathan, are some of the critical factors that have come to impede the resurgence of Kaduna based power elite. Jonathan’s emergence may have heralded the arrival of a new power elite revolving around the Ijaw mafia even though it is still in its embryonic stage. The way the Clarks and Dokubos have carried on do little to entice the support and cooperation of other Nigerians. Nigeria’s political history is replete with a scandalous circulation of elite as if the nation with all its resources has been ceded to them as their inheritance and private estate. Aside from Yakubu Gowon who perhaps was restrained by his misadventure in Babangida’s contraption, and ill-fated transition programme, all of our past leaders at different levels are still rabidly seeking one appointive or (s)elective position or the other. Several leaders, who held positions in the past since 1960’s/1970’s are still walking the corridors of power. It is difficult to comprehend what the Anenihs, Ciromas, Tukurs, Aminus, Olabodes, Iwuanyanwus, Ezeifes are still doing in politics, except perhaps for pecuniary motives and self interest, enlightened or not. All arms of government with the possible exception of the judiciary are culpable in this regard. Yet, this recycling of old hands has not brought any redeeming grace to their offices, institutions where they are, and the country at large. Nigeria has continued to go under, with offensive and putrefying rot in the system. Most civil servants remain in service after falsifying their ages. One civil servant had the misfortune of having his colleagues present in his younger brother’s 70th birthday. As his guests wined and dined, they wondered aloud what their colleague was still doing in service. Another lost his younger brother, and the children of his dead brother unaware of their uncle’s shameless falsification of his age, brought out the obituary posters where they showed their late father’s age as 72. Tongues wagged uncontrol-

lably as what on elder the brother was doing in civil service when his younger sibling had died at 72. Instances like this abound. Most Nigerians, at least up to 40 percent of our public servants today ought to have retired some years back. They neither possess the competence, character and capacity to borrow Oby Ezekwesili’s phrase in her recent dismissal of the political class during the All Progressive Congress (APC) Summit to warrant their continued stay in office. Therefore as we welcome the number one intelligence guru in Africa, we make bold to say that Gusau’s appointment, as widely merited and richly deserved as it is, cannot be used as a justification for the continued emplacement of tired hands, who have surely run out of ideas by governors and the President, and indeed anybody in public life. I see Gusau’s appointment as a national call to duty, an incisive response by the President, to check once and for all, through sustainable initiative the menace of Boko Haram. After all, ensuring the safety and security of citizens and their property was the raison d’être of the emergence of the state ab initio. Given our recent experience and history, security concerns must occupy the front burner in our national discourse. That is why I find the release of the Ten Point Agenda of APC a little discomfiting and disappointing. When the APC gathered in Ibadan to brainstorm on unemployment as the main issue in Nigeria, it seemed to me a wrong ordering of priorities.

OmoBaba

EKITI TEACHERS GET N30M CAR LOAN - News

- Let them enjoy their reward on earth!

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotline: 01-8541248, Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: GABRIEL Akinadewo.