Monday, april 13, 2015 binder1 by Newtelegraphonline

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Monday, April 13, 2015

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Vol. 2 No. 417

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Investors lose interest in N8.1trn Greenfield refinery project Adeola Yusuf

he contracts for the construction of 10 Greenfield refineries worth N8.1 trillion ($51.8 billion) have finally collapsed as

investors have lost interest in executing the project, New Telegraph has learnt. The Federal Government had signed the N8.1 trillion worth of Memorandum of Understanding (MoU) with various local

and international investors between 2011 and 2012 for the construction of the 10 new refineries across the country. Investigations, however, revealed that one of the investors, Oando Plc, has

backed out of the project. A member of the management staff of the company confided in New Telegraph at the weekend that the oil firm had exchanged correspondence with the government to announce

that it had backed out of the contract. “We have stopped this project for a long a time. The business environment at the moment does not encourage us to go ahead,” he said.

Besides Oando, it was learnt that more other investors had backed out of the project. An industry source said in a telephone interview that none of the investors

The winners... CONTINUED ON PAGE 6

lAmbode, Amosun, El-Rufai, Ajimobi, Tambuwal, Ortom, Ahmed, Okorocha, Masari, Ganduje, Bello, Jibrilla win lPDP's Dankwambo, Udom, Umahi, Ugwuanyi, defeat } opponents 2,5,6,7,14,15

Ambode - Lagos

Amosun - Ogun

El-Rufai - Kaduna

Ajimobi - Oyo

Tambuwal - Sokoto

Udom - Akwa Ibom

Governorship election Results States

Ugwuanyi - Enugu

Ahmed - Kwara

Okorocha - Imo

Masari - Katsina

Dankwambo - Gombe

Jibrilla - Adamawa

Yari - Zamfara

Umahi - Ebonyi

AKWA IBOM BAUCHI BENUE EBONYI ENUGU GOMBE IMO KADUNA KANO KATSINA KWARA LAGOS NIGER OGUN OYO SOKOTO YOBE

APC

89,865 654,934 353, 692 27,583 43,839 205,132 381,904 1,117,635 1,546,434 943,085 295,832 811,994 450,757 306,988 327,310 647,609 334,847

PDP Winner

996,071 282,650 277, 057 289,867 482,277 285,369 305,020 485,833 509,726 476,768 115,220 659, 788 171,856 201,440 79,019 269,074 179, 700

PDP APC APC PDP PDP PDP APC APC APC APC APC APC APC APC APC APC APC

News

MONday, APRIL 13, 2015 NEW TELEGRAPH

Amosun, Ambode, Udom, others win T Our Correspondents

he All Progressives Congress (APC) looked set yesterday to confirm its dominance in the polity as its governorship candidates won in many of the states where results of Saturday's poll were declared. According to results from the election, held in 29 states, that had been declared so far, APC's Akinwunmi Ambode won in Lagos; Senator Ibikunle Amosun won his re-election bid in Ogun State just like his Imo and Kwara states counterparts, Alhaji Abdulfatah Ahmed and Chief Rochas Okorocha. Besides, Senator Abiola Ajimobi booked a place for himself in the history of Oyo State as he became the first governor to be reelected. Also, Speaker, House of Representatives, Hon. Aminu Tambuwal (Sokoto), Mallam Nasir el-Rufai (Kaduna), Hon. Aminu Masari (Katsina), Dr. Samuel Ortom (Benue), Alhaji Mohammed Abubakar (Bauchi) and Senator Bindo Umaru Jibrilla (Adamawa), all of APC won. The party's candidates were also coasting home to victory in Borno (Kashim Shettima), Yobe (Ibrahim Geidam), Bauchi (Mohammed Abubakar), Niger (Abubakar Sani Bello), Kano (Umar Ganduje) and Jigawa (Mohammed Badaru Abubakar) were final results of the election were being collated as at press time. However, the candidates of the Peoples Democratic Party (PDP), Dave Umahi (Ebonyi), Ifeanyi Ugwuanyi (Enugu), Udom Emmanuel (Akwa Ibom) and Ibrahim Dankwambo (Gombe) won in their respective states. The party's candidate is also leading in Rivers as Mr. Nyesom Wike has won 18 out of the 20 local government areas where results have been declared. In addition, PDP's Senator Ifeanyi Okowa was in clear lead in Delta State just like his party mate in Abia State, Dr. Victor Okezie Ikpeazu. One major feature of the governorship election was the readiness of the losers to concede defeat, in some cases even before the official results were declared by the Independent National Electoral Commission (INEC). Lagos Declaring Ambode winner yesterday, the State Returning Officer who is also the Vice-Chancellor of the University of

Ibadan, Professor Isaac Adewole, said Ambode polled 811,944 votes to defeat his closest rival and PDP candidate, Mr. Jimi Agbaje, who scored 659, 788 votes. Ogun Amosun was declared winner by the State Returning Officer, Prof. Duro Oni, who in Abeokuta said he polled a total of 306,988 votes to defeat his closest challenger, PDP's Gboyega

Isiaka who scored 201,440 votes. However, Isiaka has rejected the results accusing INEC of conniving with the APC to rig the poll.

Imo Okorocha won his reelection bid as he defeated Deputy Speaker, House of Representatives, Hon. Emeka Ihedioha, of the PDP. Okorocha who swept the bulk of the votes in

Imo North and Imo West Senatorial Districts of the state won even in strongholds of the opposition. Flying the flag of the APC, Okorocha defeated Ihedioha in 19 out of the 27 council areas in the state.

Kaduna INEC declared El-Rufai, the APC gubernatorial candidate, winner after scoring 1,117,635 votes to defeat Governor Mukhtar Ramalan Yero of

the PDP, who scored a total of 485,833 votes. A breakdown of the results announced by the Returning Officer, Professor Jaáfaru Kaura, showed that the APC won in 17 local government areas out of the 23 area councils in the state. Earlier, Yero had called El-Rufai about 3pm to concede defeat and congratulate the governor-elect on his victory.

Kwara Ahmed was in clear lead in Kwara having won in 14 out of the 16 local government areas where results had been declared. The state Returning Officer and Vice Chancellor of the Federal University of Technology, Minna, Professor Musbau Akanji, declared a three-hour break to accommodate the arrival of collation officers from two remaining CONTINUED ON PAGE 7

Akwa Ibom Governor-elect, Mr. Udom Emmanuel, acknowledging cheers from the jubilating crowd after the Independent National Electoral Commission (INEC) declared him winner of the governorship election in Uyo...yesterday.

Udom Emmanuel emerges A’Ibom governor-elect

lAttah calls for result cancellation over irregularities Tony Anichebe Uyo

he Peoples Democratic Party (PDP) in Akwa Ibom State, Mr. Udom Emmanuel, has emerged as governor-elect. He was declared winner of the Saturday poll having polled 996,071 votes against the All Progressives Congress (APC) candidate, Umana Okon Umana, who scored 89,865 votes. Announcing the result yesterday, the state collation officer and Vice Chancellor of the University of Calabar, Prof. James Ekpoke, said Emmanuel met the requirement as required by the electoral law in all the 31 council areas of the state. The PDP candidate won in all the local government areas of the state with the

exception of Urue Offong/ Uruko where APC won with 3,792 votes as against PDP's 2,777 out of a total 7,128 votes cast. In other results, the Labour Party (LP) candidate, Senator Helen Esuene scored 8,600 votes to come a distant third. The total registered voters in the state were 1,548,531 while total votes cast stood at 1, 122, 7836. The PDP state chairman, Obong Paul Ekpo, said the result was the reflection of the wishes of Akwa Ibom people, stressing that the will remain PDP. Ekpo urges the opposition to accept the result of the guber election in good faith, noting that the PDP government will carry the opposition along in the administration of the state.

In the same vein, the PDP swept 25 out of 26 seats in the state House of Assembly, losing only the Urueffong Oruko state constituency to APC However, the former Akwa Ibom State Governor Victor Attah has called for the cancellation of the governorship and House of Assembly elections in the state following widespread irregularities. While addressing newsmen in Uyo, the state capital, Attah said he witnessed policemen in uniforms carting away ballot boxes. According to the exgovernor, Independent National Electoral Commission (INEC) officials sent to his unit in Ibesikpo Asutan told him point blank that he could not be accredited because gun-

men had snatched both the electoral materials and card reader at the distribution centre. Attah explained that not only in his unit, but several units across the state there were no elections. He said at his unit, the Police Public Relations Officer pleaded that him that he should ensure that his people didn’t make trouble. Attah said: “I told INEC I have come to vote. So I will like to do my accreditation. They said sorry sir, it is not possible. I asked why is it not possible? They said at the distribution of electoral material centre that people came with machete, guns and shot in the air. They carted away all the materials including even the INEC card readers. Not just in my unit, several units in my area. They

(INEC) arrived there without any electoral materials and card readers. “The violence of shooting and attacking was so widespread. Carting away of election materials including card readers? What does anybody want to do with a card reader? My appeal, which I have made to everybody that is prepared to listen to me, is to accept the fact that truly there were no elections in Akwa Ibom State. “The whole elections should just be cancelled. I am not talking about my units alone. I am talking about cancelling the entire elections in Akwa Ibom State and conducting it as soon as INEC finds it possible so that all eyes will be on Akwa Ibom… I witnessed police in uniforms carting away ballot boxes.”

NEW TELEGRAPH MONday, APRIL 13, 2015

Travel Advisory

MONday, APRIL 13, 2015 NEW TELEGRAPH

International Flight Schedule Air France

Destination Abuja- Paris Paris-Lagos Paris-PHC PHC-Paris Paris –Abuja Lagos –Paris

Flight No. AF 513 AF 3822 AF514 AF513 AF514 AF3849

Departure 23.55hrs 10.55hrs 11:00hrs 21:20hrs 11:00hrs 23:55hrs

Arrival 6:05hrs 17:15hrs 19:15hrs 6:05hrs 17:00hrs 6:20hrs

Amsterdam-Lagos Lagos-Amsterdam

KL587 KL588

13:15hrs 23:05hrs

20:00hrs 05:50hrs

KLM

ARIK AIRLINES

Lagos-London London-Lagos Lagos-New York

W3 101 W3 102 W3 107 (Mon, Wed , Fri) New York-Lagos W3 108 (Tues,Thurs, Fri) Lagos-Johannesburg W3 103 Johannesburg-Lagos W3 104 Lagos-Douala - (Tues, Wed ,Thur) Douala-Lagos - (Tues, Wed, Thur) Lagos-Accra Accra-Lagos

Abuja-Accra Accra-Abuja Lagos-Freetown Freetown-Lagos Lagos-Banjul Banjul-Lagos Lagos-Dakar Dakar-Lagos

-(Tue, Thur, Sat, Sun) -(Mon, Wed, Fri) -(Daily) - (Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Mon, Tue, Thur, Fri,Sat) -(Tue,Wed, Fri,Sat,Sun)

BRITISH AIRWAYS

London-Lagos Lagos-London Abuja-London Abuja-London

07:00hrs 20:05hrs 20:10hrs 11:45hrs

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

EGYPT AIR

KENYA AIRWAYS

16:00hrs

Lagos-Kigali

11:15hrs

16:45hrs

10:45hrs 09:35hrs 11:10hrs 13:25hrs 07:20hrs 17:00hrs 08:05hrs 13:35hrs 18:00hrs

hrs 14:44hrs hrs hrs hrs hrs hrs hrs hrs

AWB 201 (Mon, Wed, Fri, Sun) AWB 202 (Tue, Thur, Sat, Sun)

14:00hrs

17:30hrs

22:35hrs 15:10hrs

06:00hrs 21:20hrs

17:00hrs 06:00hrs 08:00hrs 17:00hrs 08:00hrs 15:20hrs 21:00hrs

hrs hrs hrs hrs hrs hrs hrs

01:00hrs

hrs

3:00hrs 14:00hrs

8:00hrs 19:00hrs

EK 7821 (Sun-Sat) EK 7822 EK 7831 EK 7811 EK 761

21:30hrs 14:40hrs 07:35hrs 14:20hrs 23:55hrs

07:40hrs 01:05hrs 12:50hrs 19:45hrs 10:30hrs

Lagos-Doha Flight Doha-Lagos Flight

QR 1414 (daily) QR 1415

14:55hrs 07:20hrs

23:45hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

Lagos - Addis Ababa ET900 Addis Ababa - Lagos ET901 Abuja - Addis Ababa ET910 Addis Ababa - Abuja ET911 Enugu - Addis Ababa ET930 Addis Ababa - Enugu ET931 Kano - Addis Ababa ET930 Addis Ababa - Kano ET931

13:15hrs 09:00hrs 13:40hrs 09:40hrs 12:00hrs 09:20hrs 14:05hrs 09:20hrs

20:25hrs 12:15hr 20:10hrs 12:20hrs 20:50hrs 11:15hrs 20:50hrs 13:20hrs

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 16:00hrs

5:25+1hrs 20:20hrs

Lagos-Casablanca Casablanca-Lagos

AT738 AT 737

06:25hrs 02:15hrs

09:55hrs 6:00hrs

air maroc

20.45hrs 09:50hrs 09.20 hrs 06:30hrs

12:30hrs

Lagos-Dubai Lagos-Dubai Dubai-Lagos Dubai-Lagos Abuja-Dubai

IBERIA

Abu Dhabi-Lagos

EY 0672 (Sunday) (Monday) (Saturday) EY 955

19:35hrs 23:45hrs

MEA 571 MEA 572

ETHIOPIAN AIRLINES

Lagos- Abu Dhabi

ETIHAD AIRWAYS

12:30hrs 18:00hrs

to Lagos)

UNITED AIRLINES

17:00hrs 4:40hrs

KQ 533 KQ 534

11:55hrs 5:50hrs 14:35hrs 06:00hrs

DELTA AIRLINES

11:00hrs 22:40hrs

Lagos-Nairobi Nairobi-Lagos

17:55hrs 00:00hrs 09:00hrs 22:40hrs

QATAR AIRWAYS

VS 652 VS 651

18:30hrs 05:15hrs 05:30hrs

BA075 BA074 BA 082 BA 083

EMIRATES AIRLINES

Lagos-London London-Lagos

12:00hrs 21:30hrs 23:50hrs

Middle East Airlines (Two flights weekly (Tues & Friday)

Lebanon-Lagos Lagos-Lebanon

VIRGIN ATLANTIC

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

HF 851 (Tues, Thurs, Fri, Sun) HF 852 (Mon,Wed, Thurs, Sat)

ASKY AIRLINES

Destination Lome to Abuja Abuja-Lome- Kinshasa Kinshasa-Abuja Abuja-Lome Lome-Lagos Lagos-Libreville Libreville-Kinshasa Kinshasa-Libreville Libreville-Lagos Lagos-Lome Lome-Lagos Lagos-Libreville Libreville-Brazaville Brazaville-Libreville Brazzaville-Lagos Lagos-Lome

10:10hrs

10:50hrs

19:20hrs

21.50hrs

Flight No. KP 032 (Tue-Fri) KP 032 ( Tue-Fri)

Departure Arrival 14:00hrs 15:55hrs 16:30hrs 18:15hrs

KP 033 (Wed-Sat) KP O33 (Wed-Sat) KP O40 (Sun-Sat) KP 040 (Sun-Sat) KP 040 (Sun-Sat) KP041 (Tue-Sat) KP 041 (Tue-Sat) KP 041 (Tue-Sat) KP O44 (Tue-Fri) KP 044 (Tue-Fri) KP 044 (Tue-Fri) KP O45 (Wed-Sat) KP 045 (Wed-Sat) KP 045 (Wed-Sat)

8:20hrs 10:35hrs 13:00hr 14:40hrs 17:00hrs 7:15hrs 9:35hrs 11:55hrs 13:10hrs 14:50hrs 17:10hrs 07:00hrs 09:20hrs 11:40hrs

10:00hrs 12:20hrs 14:00hrs 16:30hrs 18:45hrs 08:55hrs 11:25hrs 12:45hrs 14:10hrs 16:40hrs 18:50hrs 08:40hrs 11:10hrs 12:30hrs

Local FLIGHT SCHEDULE ARIK AIR

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

AZMAN FLIGHT SCHEDULE

WEEKLY SCHEDULE Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 12:40pm

Lagos-Abuja/Kano 4:00pm Abuja-Kano 5:45pm Kaduna-Lagos 8:00am Lagos-Kan 10:10am Kano-Abuja/Lagos 12:40pm Abuja-Lagos 1:00pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm WEEKEND SCHEDULE SATURDAY Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 1:00pm Lagos-Kano 4:00pm Kaduna-Lagos 8:00am Lagos-Kano 4:00pm Sunday Kano-Lagos 8:00am Lagos-Kano 10:30am Kano-Abuja/Lagos 1:20pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm

FIRST NATION AIRWAYS

LAGOS-ABUJA (MON-FRI) 06.50; 09:30; 11:45; 16:00 (SAT) 06:50; 11:45 (SUN) 11:45; 16:00 ABUJA-LAGOS (MON-FRI) 09:00; 11:30; 13:40;18:30 (SAT) 09:00; 13:40 (SUN) 13:40; 18:30 LAGOS-PORT-HARCOURT (MON-FRI) 14:45

(SAT) 16:15 (SUN) 14:45 PORT-HARCOURT-LAGOS (MON-FRI) 16:50 (SAT) 18:20 (SUN) 16:50

AEROCONTRACTORS

LAGOS-ABUJA (MON-FRI) 06:50; 13:30; 16:30; 19:45 (SAT/SUN) 12:30; 16:45 ABUJA-LAGOS (MON-FRI) 07:30; 13:00; 19:00 (SAT) 12:30 (SUN) 15:30

MEDVIEW AIRLINES

LAGOS-ABUJA (MON-FRI) 07:00; 08:50; 12:00; 15:30 (SAT) 10:00; 15:00 (SUN) 17:30; 18:30 ABUJA-LAGOS (MON-FRI) 09:00; 14:00, 15:00; 18:30

OVERLAND AIRWAYS LAGOS-ILORIN (MON-FRI) 07:15 LAGOS-IBADAN (MON-FRI) 7:00 IBADAN-ABUJA (MON-FRI) 08:00 IBADAN-LAGOS (MON-FRI) 16:30 ILORIN –ABUJA (MON-FRI) 08:30 ILORIN –LAGOS (MON-FRI) 17:00 ABUJA-ASABA (MON-FRI) 10:00 ASABA-ABUJA (MON-FRI) 14:15 ASABA-LAGOS (MON-FRI) 11:30 LAGOS-ASABA (MON-FRI) 13:00 ABUJA-ILORIN 16:00 ABUJA-IBADAN 15:00

News

NEW TELEGRAPH MONday, APRIL 13, 2015

Orji, PDP leaders invade collation centre Igbeaku Orji Umuahia

he collation of the governorship and House of Assembly results in Abia State was halted when the state governor, Theodore Orji, invaded the collation centre at the Independent National Electoral Commission (INEC) headquarters in Umuahia yesterday while collation was in progress. The governor arrived the collation centre at exactly 1:48p.m. shortly after the Returning Officer and Vice Chancellor of the University of Nigeria

(UNN), Professor Benjamin Ozumba, announced the cancellation of result of three local government areas because of irregularities. Ozumba said: “By the powers conferred on me and the reports of irregularities by international observers, I hereby cancel the election in three local government areas of Obingwa, Osisioma and Isiala Ngwa North.” The governor arrived the collation centre shortly after the announcement of the cancelation visibly upset. He walked up to the table where the officers were sitting and then left

the collation point with the Resident Electoral Commissioner (REC), Professor Selina Oko. A little later, the PDP chieftains including, Senator Enyinnaya Abaribe, Chief Onyema Ugochukwu, Dr. Eme Okoro, Chuku Wachuku, Minister of State for Defence, Col. Austin Akobundu (rtd), among others, also invaded the collation centre where the PDP secretary, Charles Esonu, threatened the RO should he continue with the announcement of the result. Upon the threat, the RO also left the collation point and went into the INEC

office. He came out after a while and declared that the earlier cancelled local government results were going to be announced. This drew the protest of the APC agent, Chibuihe Onyemechi, who walked out of the centre after questioning the rationale for the reversal. But the APGA agent, Ahamdi Nweke, remained behind to condemn the reversal, saying that it was obvious that elections did not take place in Osisioma. At that point, one of the observers from the European Union Election Observation Mission testified before the collation

officers that election at Osisioma was marred by irregularities, corroborating that there was no election there. Before the governor came to disrupt the process, the PDP national publicity secretary, Olisa Metuh, came in and was introduced by the PDP agent, Solomon Ogunji. Thereafter the whole INEC

Bello, Ganduje, Yari win in Niger, Kano, Zamfara Dan Atori, Muhammad Kabir and Idris Gusua

Jubilant residents and party faithful celebrating with the Ogun State Governor, Senator Ibikunle Amosun (centre), his wife, Olufunso (right) and the incoming Deputy Governor, Mrs. Yetunde Onanuga (left), following Amosun's victory in Abeokuta...yesterday.

Amosun re-elected as APC wins 17 Assembly seats Kunle Olayeni Abeokuta

gun State Governor and candidate of the All Progressives Congress (APC), Senator Ibikunle Amosun, was yesterday declared winner of the governorship election conducted in the state on Saturday by the Independent National Electoral Commission (INEC). The State Returning Officer, Prof. Duro Oni, who announced the results at the INEC office in Abeokuta, said Amosun polled a total of 306,988 votes to defeat his closest challenger, Prince Gboyega Isiaka of the Peoples Democratic Party (PDP), who scored 201,440 votes. Oni, a Deputy Vice Chancellor of the University of Lagos, stated that the governor secured twothirds of total votes cast from all the 20 local gov-

ernment areas and won majority votes in 11 local government areas of the Gateway State. The APC won 17 seats in the state House of Assembly elections while the PDP clinched the remaining nine seats. The state constituencies where APC won include Obafemi-Owode, Abeokuta South I, Ewekoro, Odeda, Remo North, Abeokuta South II, Abeokuta North, Ikenne, Ifo I, Ifo II, Odogbolu, Ado-Odo/Ota I, AdoOdo/Ota II, Ijebu North II, Sagamu I, Ogun Waterside and Egbado North I. For the PDP, it won in Ijebu North-East, IjebuOde, Imeko-Afon, Egbado South, Ijebu North, Ipokia/Idiroko, Sagamu II, Ijebu East, and Egbado North II state constituencies. There was jubilation in Abeokuta, the state capital, by residents and supporters of the APC shortly

after the results were officially declared by INEC. The State Returning Officer disclosed that 16 political parties participated in the gubernatorial and House of Assembly elections. Oni said the Social Democratic Party (SDP) governorship candidate, Senator Akin Odunsi, polled 25,826 votes to emerge third in the gubernatorial contest while the Unity Party of Nigeria (UPN) candidate, Prince Rotimi Paseda, emerged fourth with 10,923 votes. According to the gubernatorial election results, the Labour Party (LP) polled 2,209 votes; Alliance for Democracy (AD) polled 1,669 votes; All Progressive Grand Alliance (APGA) scored 1,382 votes; Progressive Peoples Alliance (PPA) got 969 votes and Peoples Party of Nigeria (PPN) scored 722 votes.

Adamawa: Ribadu concedes defeat, comes distant third Ibrahim Abdul Yola

alf way into the collation of Adamawa governorship election result, the candidate of the PDP, Mallam Nuhu Ribadu, has conceded defeat. Ribadu, in a statement issued by his spokesman, Mallam AbdulAziz Ahmad, said he had accepted the outcome of the election in good faith. "I came into this race with lofty dreams and clear vision for our dear state, but the voice of the majority has not given me this chance. I take this in good faith. "I want to take this opportunity to congratulate the winner and pray that at the end of it all our dear state will witness the needed prog-

premises was invaded by PDP and government officials. After announcing the result of Osisioma the PDP overtook APGA which was leading by 104,776 to 85234. This generated protest. At the time of filing this report, results of 12 local governments had been announced while five were being awaited.

ress and development it so much desires," Ribadu said. The former chairman, Economic and financial Crimes Commission (EFCC) lauded the support he got from President Goodluck Jonathan, party leaders and the people of Adamawa in general. Ribadu’s concession came shortly after the announcement of the results of 12 out of the 21 Local Government Areas of Adamawa which showed the candidate of the All Progressives Congress (APC), Senator Bindow Jibrilla leading with 206, 576 votes followed by the Social Democratic Party (SDP) candidate, Engr. Marcus Gundiri with 124,326 votes while Ribadu came third pulling 46, 519 votes.

he All Progressives Congress (APC) governorship candidate, Alhaji Abubakar Sani Bello is leading in the Niger State governorship elections after winning 17 out of the 18 councils announced so far by the Returning Officer, Prof. Abdulganiyu Ambali. While receiving results from the Collation Officers, the Returning Officer on Sunday announced that the Peoples Democratic Party (PDP) candidate, Alhaji Umar Nasko has only won in Magama, his local government area. Out of the 18 councils, the APC candidate has scored 450,757 votes, leaving the PDP candidate, Nasko with 171,856 votes. The 17 LGAs won by the APC candidate include Munya, Rijau, Shiroro, Gbako, Bida, Lavun, Chanchaga, Lapai, Agaie, Rafi, Paikoro, Suleja, Kacha, Borgu, Gurara, Bosso and Tafa. While the PDP candidate had a consolation from his LGA Magama. Ambali has however called for a break for the collation of the remaining seven LGAs and to resume by 10p.m. In Zamfara, Governor Abdulaziz Yari Abubakar of the APC is leading former Governor Mahmuda Aliyu Shikafi of the PDP. So far, the results of 13 out of 14 local governments had been released with APC having 612,229 votes against PDP’s 143,337 votes. The result of Gusau Local Government is awaiting. The APC also swept the poll in Kano wining the governorship and 40 House of Assembly seats. INEC Collation Officer, Prof. Muhammad Hamisu, said the APC candidate, Abdullahi Umar Ganduje polled 1,546,434 against Salihu Sagir Takai of PDP who scored 509,726. In most of the local government areas APC defeated the PDP candidate.

News

MONday, APRIL 13, 2015 NEW TELEGRAPH

66 violent incidents recorded in Saturday polls –INEC Onyekachi Eze ABUJA

ixty-six reports of violent incidents targeted at polling units, election officials, materials and voters were recorded nationwide in the state governorship and legislative elections on Saturday. The Independent National Electoral Commission (INEC) made the disclosure yesterday in a statement issued by Mr. Kayode Idowu, the Chief Press Secretary to the INEC Chairman. According to the commission, significant number of violent incidents were recorded in some states, especially Rivers, Akwa Ibom, Cross River, Ebonyi and Ondo states. "INEC’s records show that there were 66 reports of violent incidents targeted at polling units, the Commission’s officials, voters and election materials. These were in Rivers State (16 incidents), Ondo (8), Cross River and Ebonyi (6 each), Akwa Ibom (5) Bayelsa (4), Lagos and Kaduna (3 each), Jigawa, Enugu, Ekiti and Osun (2 each), Katsina, Plateau, Kogi, Abia, Imo, Kano and Ogun (1 each),” Idowu

said. "The Commission is investigating the incidents and will do everything within in its powers to bring culprits to justice,” he said. INEC expressed satisfaction with the conduct of the weekend's governorship and state Houses of Assembly elections. The commission noted that a general assessment shows that the elections

went very well across the country. It observed that preliminary reports indicated that 88.9 per cent of polling units opened for accreditation between 8a.m. and 10a.m. across the country, while only 5.2 per cent were yet to open as of 1pm. Also, 73 per cent of the polling units had commenced voting by 2.30 p.m. "The process of ac-

creditation with Smart Card Readers was also successful in a majority of the polling units. Initial challenges were recorded in Edo and Abia states, but the technical teams deployed to support the states were able to resolve the issues in a timely manner," the statement added. INEC, however, commended Nigerians for demonstrating their resolve and commitment to

participate in the electoral process and by doing so, contributing to deepening democracy of Nigeria. The commission urged Nigerians to maintain the peace as the results of the Governorship and State Assembly elections were being processed, and to accept the official outcomes. It emphasised that winners could only emerge after collation of the official results and on the basis

of the requirements prescribed by the law. “Any aggrieved persons or groups are encouraged to seek redress at the tribunals. “INEC would also like to remind all stakeholders that the process is not yet completed and urges restraint in their comments as we strive to bring this process to an orderly, peaceful and credible conclusion,” Idowu said.

L-R: Managing Director, Afriland Properties Plc., Uzoamaka Oshogwe, Chairman, Mrs. Angela Adebayo and Company Secretary/Legal Adviser, Mr. Obong Idiong, at the Annual General Meeting of the company in Lagos...on Thursday.

TODAY’S WEATHER FORECAST

Investors lose interest in N8.1trn Greenfield refinery project

LAGOS

was ready to go ahead with the agreement. “Don’t forget that many of these investors have not been able to meet deadlines, therefore they could not progress to the next level of negotiation,” he stated. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, had earlier confirmed the foot-dragging on the implementation of the agreement with investors on the Greenfield refineries. She said on the sideline of a conference that the Federal Government had

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not been able to achieve much progress. She added that the move to construct the 10 refineries was part of efforts towards reducing the country’s overdependence on importation of petroleum products for domestic consumption. While the government is making efforts to ensure that the four refineries in the country are producing at full capacity, it is also working hard to ensure that the proposed Greenfield refineries are up and running. “We must get the business model right. There are

quite a number of issues that are wrong. No investor will want to invest in a regulated environment. "Today, the petroleum product market is regulated and there are quite a number of things that are needed to be done to ensure that the business environment is conducive enough for investors to invest. "The business model must be right. We are working hard to establish investors’ confidence in the Greenfield refineries," she added. The Greenfield Refinery Projects Division

Crisis as Wike wins Rivers guber poll Emmanuel Masha and Clement James

he governorship candidate of the Peoples Democratic Party (PDP) has swept the votes in last Saturday’s governorship election, just as the party’s House of Assembly candidates won the majority seats in the election. Wike, who has dismissed the call by the All Progressives Congress (APC) for the election to be cancelled, won in 15 local government areas out of

the 17 released by the Independent National Electoral Commission (INEC). Wike won in Oyigbo, Okrika, Ogu/Bolo, Tai, Gokana, while APC won in Eleme and Opobo. The results of six local government areas were yet to be released. The candidate of the APC, Dr. Dakuku Peterside, won in two local government areas. In the House of Assembly election, most of the candidates of the PDP won in most of the councils. The state’s INEC Resi-

dent Electoral Commissioner (REC), Dame Gesila Khan said election was held in all the 23 LGA's of the state except few. In Cross River, Prof. Ben Ayade of the PDP is coasting home to victory. In all the nine local government areas of the state, PDP won while Labour Party and APC came distant second and third respectively. The following results have so far been released, with other release expected from 9pm later in the evening.

(GRPD) came into existence in 2005, according to the Nigerian National Petroleum Corporation (NNPC), as a strategic response to a lack of visible progress on the 18 licences issued by government for private refineries in 2002 and also, the negative consequences of massive importation of petroleum products against the backdrop of low capacity utilisation in the nation's four refineries. The corporation said on its website that in view of urgent need for increasing in-country crude oil refining capacity and the inability of private investors to perform due to lack of project development capabilities and credible foreign financiers/technical partners, it has become apparent that NNPC would have to lead the promotion of new private refineries. Nigeria currently has deficit in the supply of petroleum products, most of which are currently imported into the country. Current consumption of petrol is estimated at 35 million litres per day, while that of kerosene is 10 million litres per day. In order to meet the deficit in supply, Nigeria currently spends between $12 and $15 billion annually

and it is the desire of the government to stem the flood of imports by investing in additional refining capacity along with interested equity participants. Recent studies by stakeholders in the industry have revealed that a new refining capacity of at least 420 KBPD will be required to meet the existing refining gap. If this hole is projected to 2016 at the growth rates of between 3 per cent and 5 per cent per annum, the estimated refining gap in Nigeria by 2016 will be 500-560 KBPD. This forms the basis of the current effort to establish at least three new refineries of approximately 400-550 KBPD capacity in Lagos, Bayelsa and Kogi States. CORRINGENDUM President Barack Obama did not present any commendation letter to Independent National Electoral Commission (INEC) Chairman, Prof. Attahiru Jega, as reported in the story with the headline: 'Obama commends Jega,' published on Monday, April 6, 2015 edition of the paper. The error is regretted. –Editor

NEW TELEGRAPH MONday, APRIL 13, 2015

Masari, Ugwuanyi, Gaidam victorious CONTINUED FROM PAGE 2

local governments. Gombe Dankwambo of PDP was declared winner having scored 285,369 votes to defeat his closest opponent, Alhaji Inuwa Yahaya of the APC, who polled 205,132 votes. Announcing the result in Gombe, the Returning Officer, Prof. Saminu Ibrahim, said the governor

won the polls in 10 local government areas out of the 11 in the state. Benue PDP's 16-year rule in Benue ended yesterday as APC's Dr. Samuel Ortom was declared winner. Ortom, who defected from PDP to APC defeated the ruling party's candidate, Hon. Terhemen Tarzoor, by a wide margin. According to tally of

the results declared by the state Returning Officer, Prof. Hayward Mafuwai, Ortom scored 353, 692 votes in 20 out of the 23 local government areas in the state, as against Tarzoor's 277, 057 votes. Adamawa With the victory of APC's Jibrilla as winner of the governorship election in Adamawa State, former Chairman, Economic and

Tambuwal, Shettima, Bagudu win in Sokoto, Borno, Kebbi Umar Abdullahi, Abubakari Abdul and Ahmed Miringa

peaker House of the Representatives, Aminu Waziri Tambuwal and the All Progressives Congress (APC) governorship candidate has been declared governor-elect of Sokoto State. Professor Abubakar Bagudo, the Returning Officer of the Independent National Electoral Commission (INEC), declared that Tambuwal polled 647,609 votes to emerge as the winner of the polls. The Peoples Democratic Party (PDP) candidate, Senator Abdallah Wali, got 269,074 votes out of

958,736 votes cast. In Kebbi, APC governorship candidate, Atiku Bagudu, is leading in 18 out of the 20 local governments in which the results had been declared. PDP’s Bello Sarki Yaki won in two local governments while the report from one local government is still being expected as at the time of going to press. In Borno, Governor Kashim Shettima is on the verge of being declared as the winner of

the Saturday’s election. From the results collated so far, APC’s Shettima has won in 23 out of the 27 local governments while the PDP is trailing. Elections were held yesterday in Ali Monguno, Yerwa IDP camps, Konduga and Gwoza. APC has won 21 state House of Assembly seats out 28. In Zamfara, Governor Abdulaziz Yari Abubakar of the APC is leading former Governor Mahmuda Aliyu Shikafi of the PDP.

Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, of PDP lost another opportunity to be elected by the people. Ribadu was APC presidential candidate in 2011 and defected to PDP last year to fight for the party's ticket. Already, results announced in 12 local government areas of Adamawa showed that Jibrilla was leading with highest votes in seven followed by Mr. Marcus Gundiri of the Social Democratic Party (SDP), who won in five. Niger Like Benue State, PDP 16-year rule has also ended in Niger State as APC's Bello has won the governorship election in the state. According to results declared by the Returning Officer, Prof. Abdulganiyu Ambali, APC has won in 17 out of the 18 local government areas whose results had been announced so far. Bello scored 450,757 votes, leaving the PDP

candidate, Alhaji Umar Mohammed Gado Nasko with 171,856 votes.

sari in the 2011 race, has congratulated the APC candidate on his victory.

Ebonyi In Ebonyi, the state Deputy Governor, Mr. Dave Umahi, who flew the PDP's flag, emerged winner of the governorship election with 289,867 votes as against 124,817 votes garnered by his closest rival, Mr. Edward Nkwegu of Labour Party (LP).

Zamfara The APC also looked good to win in Zamfara State as its candidate and incumbent, Alhaji Abdul'azeez Yari Abubakar, was in comfortable lead. From results of the 13 out of the 14 local government areas of the state so far collated, Abubakar has a total of 612,229 votes as against 143,337 by his PDP opponent, Alhaji Mahmud Aliyu Shinkafi. Results from Gusau Local Government Area were being awaited as at press time.

Sokoto In Sokoto State, Tambuwal polled 647,609 votes to defeat his the PDP's candidate, Ambassador Abdallah Wali. Katsina PDP's domination of Katsina politics has also ended as its governorship candidate, Alhaji Musa Nashuni, lost to Masari. Masari scored 943,085 votes to Nashuni's 476,768 votes. Already, the incumbent, Alhaji Ibrahim Shema who defeated Ma-

Yobe In Yobe, Governor Ibrahim Gaidam of the APC also won. Gaidam scored 334,847 votes to defeat a former Minister of Police Affairs, Alhaji Adamu Waziri of the PDP who polled 179, 700 votes.

Dankwambo re-elected in Gombe Mojeed Alabi

overnor Ibrahim Dankwambo of Gombe State has been re-elected as governor of the state. Dankwanbo of Peoples Democratic Party (PDP) scored 285,369 votes to defeat his closest opponent, Alhaji Inuwa Yahaya of the All Progressives Congress (APC), who polled 205,132 votes. Announcing the result in Gombe yesterday, the Returning Officer for the state, Prof. Saminu Ibrahim, said that the governor won the polls in 10 local government areas out of the 11 in the state. He said that the APC candidate won in one local government area, adding that African Democratic Congress (ADC) candidate, Alhaji Jafar Abubakar, came third with 848 votes. The returning officer consequently declared Dankwambo, with the highest votes cast, winner of the election. He said out of the 1.1 million registered voters in the state, 535,508 were accredited while 506,768 votes

L-R: Senator representing Ondo Central, Ayo Akinyelure; Ondo State Governor Olusegun Mimiko and Ondo PDP chieftain, Femi Adekannbi, at a thanksgiving service after the election in Akure…yesterday

Ajimobi floors Ladoja, Alao-Akala, Folarin Sola Adeyemo Ibadan

overnor Abiola Ajimobi of Oyo State was yesterday declared winner of the governorship election, beating other contestants from the opposition parties. With the victory, Ajimobi becomes the first governor to break the second term jinx in the 39-year old state, beating his predecessors, Senator Rashidi Ladoja of the Accord party

and Otunba Adebayo AlaoAkala of the Labour Party (LP). Others that suffered defeat included the Peoples Democratic Party (PDP) candidate, Senator Teslim Folarin and Seyi Makinde of the Social Democratic Party (SDP). APC also won 18 seats in the state House of Assembly with AP winning eight seats while LP won six. Declaring the result at the office of the Independent National Electoral

Commission (INEC) in Ibadan, the Returning Officer in the state, Prof. Ayobami Salami, said Ajimobi polled a total number of 327,310 to beat his closest rival, Ladoja, who polled 254,520 votes. Alao-Akala came third with 184,111 votes while Folarin of PDP garnered 79,019. Makinde, who also defected from the PDP like Alao-Akala, had 54,740 to come last among the major contenders. The Resident Electoral

Commissioner (REC) in the state, Rufus Akeju, while congratulating Ajimobi on his return, urged other candidates in the race to accept the result in good faith. Akeju implored them to emulate President Goodluck Jonathan who conceded defeat to the president-elect, Gen. Muhammadu Buhari (rtd) after the presidential poll on March 28. Meanwhile, Ladoja has rejected the result of the

governorship election, citing election malpractices as reason for its contention. After the announcement of the results, the Accord Party’s agent, Nureni Adisa, refused to sign the result sheet, saying that the party would seek avenues to challenge the results. However, Alao-Akala and Makinde have congratulated Ajimobi on his return as the state governor.

News

Lagos REC satisfied with parties’ conduct

r Akin Orebiyi, the Lagos State Resident Electoral Commissioner (REC), yesterday lauded the conduct of the political parties in the just-concluded state elections. “The parties displayed tremendous maturity during the polls. “Never mind the few skirmishes here and there, but on the whole, we can say that the political class deserved an accolade,’’ he said during the collation of the election results at INEC office, Yaba. “In four years’ time, there would be considerable improvement in the attitude of the political class.’’ The News Agency of Nigeria (NAN) reports that 16 parties participated in the governorship and state assembly polls. Orebiyi, however, said there was still room for improvement in the conduct of future elections. According to him, the commission will continue to improve on the process. Parties that contested the elections include AA, ACD, ACPN, AD, APC and PDP.

Oba of Lagos organises prayer for peaceful co-existence

he Oba of Lagos, Alhaji Rilwan Akiolu, yesterday organised a prayer session for peaceful co-existence in Lagos and Nigeria in general. The prayer was conducted at the Iga Idunganran Palace of the royal father on Lagos Island. Akiolu said that the prayer was imperative to peaceful co-existence in Lagos and Nigeria in general, after peaceful conduct of the general elections in the state. He urged different tribes in Lagos to work for the progress of the state. The royal father urged the president-elect, retired Maj. Gen. Muhammadu Buhari to assist Lagos in repairing most of the damaged federal roads in the state. Akiolu, who spoke in Yoruba language, said that when Buhari came to his palace during the campaign period, he was three hours behind schedule. He said that Buhari complained of bad roads and he told him that when he becomes the president, he should help the state to reconstruct the road. The Oba said he was sure that God would give him the power to do it.

national Yekeen Nurudeen Abuja

s part of activities marking the one year that 219 girls were abducted from Chibok Secondary School, Borno State by the Boko Haram terrorists group, a total of 219 teenagers are expected to stage a solidarity march in the Federal Capital Territory (FCT) Abuja tomorrow to commemorate the abduction of the school girls. The teenagers, who are known as Chibok Girls

monday, april 13, 2015 NEW TELEGRAPH

219 teenagers to march for Chibok girls in Abuja Ambassadors by their numbers represent each of the abducted secondary school girls and would take their march which commences by 10am from Unity Fountain to strategic places in Abuja such as the Three Arms Zone, Maitama, Wuse and other places to call attention to the need to rescue the

missing girls. They are, however, not going to take their march to the Presidential Villa as was done in the past by the Bringbackourgirls (BBOG). It would be recalled that a total of 276 schoolgirls of Government Secondary School, Chibok, Borno State were abduct-

ed in their school by terrorists while a few days after, 57 of them managed to escape on their own, leaving 219 with their abductors one year after. But the Bringbackourgirls (BBOG) advocacy group, which has been at the forefront of the campaign for the rescue of the girls, has lined up

a week long of activities to draw global attention to the plights of the missing girls. Speaking with New Telegraph in Abuja yesterday, one of the leaders of the BBOG, Dr. Emman Shehu, revealed that over 150 teenagers, also known as Chibok Girls Ambassadors, are already in Abuja preparing to stage a solidarity march on April 14 for the missing school girls.

IPAC urges candidates to emulate Jonathan

L-R: Vice-President, Institute of Chartered Accountants of Nigeria (ICAN), Chief Femi Deru: Managing Director, Nigerite Limited, Mr. Frank Le Bris; Chairman, ICAN Ikeja District, Mr. Oluseyi Ogunjobi; past Chairman, Mrs. Shakirat Babatunde and Chief Finance Officer, Nigerite, Mr. Gbolahan Tijani, during ICAN’s presidential visit to Nigerite's office in Lagos

PDP will never die, says BoT secretary

enator Walid Jibrin, the Secretary, Peoples Democratic Party (PDP) Board of Trustees (BOT), has said that the party will never die in spite of its electoral misfortune in March 28 presidential and National Assembly elections. Jibrin said this yesterday while speaking with newsmen in his country home in Nasarawa, Nasarawa Local Government Area of the state. While encouraging the party's supporters not to be deterred by the defeat it suffered in the elections, he assured them that the party would bounce back and win all positions in future elections in the country.

“I want to tell you and the whole world that the various PDP governments since the inception of the party had done a lot in fighting poverty, hunger, unemployment and youth restiveness, as well as empowering women. “Also, promoting peace and boosting the socioeconomic development of the country. “President Jonathan had transformed the education, agriculture, economic, health, judicial, commercial sectors, the electoral system, among others. “His transformation agenda had touched and improved on the lives of every Nigerian positively. “Nigerians have seen

what the PDP government had done in terms of establishing and equipping secondary and tertiary education, creating job opportunities, provision of infrastructural facilities, tackling insecurity and prompt payment of workers’ salaries, among others. “In spite of the defeat our great party, PDP, suffered during the March 28 Presidential and National Assembly elections, losing the presidential seat to APC, PDP will not and will never die. “It will continue to exist and we will win all positions in future elections.” He acknowledged that in every contest, there

must be a winner and a loser and pledged the party's commitment to do everything humanly possible to achieve its set targets and to improve on the standard of living of Nigerians for the benefit of all. Jibrin applauded President Goodluck Jonathan for exhibiting a high level of maturity by conceding defeat and urged other politicians to emulate him. “For President Jonathan to accept defeat when he lost his second term presidential ambition to the All Progressives Congress (APC) has accorded him great respect from all Nigerians and even from the international community."

APC/PDP clash: Three dead, several injured in Osun Adeolu Adeyemo Osogbo

upporters of the All Progressives Congress (APC) and that of the Peoples Democratic Party( PDP) yesterday clashed in Ile-Ife, Osun State reportedly leaving three persons dead and several wounded. New Telegraph learnt that the supporters of the two political parties, who

engaged themselves in a violent fight, freely used dangerous weapons like clubs, knives, dane guns, horse-whips, brokenbottles and other fetish objects at Enuwa area of the town last Friday to combat one another. It was gathered that, the fiasco was also extended to the lesser towns of the ancient city where the warring followers of the parties equally battled themselves strength for

strength and weapons for weapons and destroyed property worth millions of naira. Investigations revealed that one of them lost his life in Ile-Ife, while the two others gave up the ghost in the neighbouring villages while those injured were said to have been hospitalized in different hospitals and some treated in traditional way. Informed sources disclosed to newsmen in Ile-

Ife that one of the dead supporters in the villages was Abiodun Adekunle and said that the identities of the other two persons were yet to be ascertained. It was learnt that when the crisis was sizzling between the warring group, Ooni of Ife, Oba Okunade Sijuade, summoned their leaders to his palace last Friday evening, to appeal to them to give peace a chance.

overnorship and House of Assembly candidates in Saturday’s elections have been urged to emulate President Goodluck Jonathan’s spirit of sportsmanship demonstrated after the announcement of March 28 presidential election result. Chairman of InterParty Advisory Council (IPAC), Alhaji Umar Kukuri, made the call in an interview with the News Agency of Nigeria (NAN) in Damaturu, Yobe, yesterday. Kukuri said that conceding defeat and congratulating the winner of the election would avert violence, which often followed release of election results in the country. According to him, candidates who genuinely lost the election should concede and congratulate the winner just like President Jonathan conceded and congratulated Buhari in the last election. He urged the Independent National Electoral Commission (INEC) to declare results of the elections to represent the actual vote of the electorate. He advised that "where political parties or their candidates have grievances, it should be pursued through acceptable channels provided by the Constitution." Kukuri commended women for their large turnout in the elections, saying that they outnumbered the voters in some cases and added value to growth of democracy in Nigeria. "It is amazing to see women, including pregnant and breast-feeding mothers completing their house chores and joining election queues very early in the morning.

NEW TELEGRAPH monday, april 13, 2015

News

national

Ateke Tom: Ex-militants won’t return to creeks Emmanuel Masha Port Harcourt

ormer militant leader, Comrade Ateke Tom, has said that ex-militants in the Niger Delta, who embraced the amnesty programme of late President Umaru Musa Yar’ Adua have no plans to return to the creeks over the victory of Major General Muhammadu Buhari. While commending

President Goodluck Ebele Jonathan for his exemplary leadership in the last six years, and his sportsmanship in congratulating Buhari, the leader of the defunct Niger Delta Peoples Vigilante, noted that the victory of Buhari does not change the fact that ex-militants have embraced amnesty, and were ready to stick to it. Ateke Tom, who spoke to reporters in his country home in Okrika, said that Jonathan deserves commendation for conceding

defeat and congratulated his opponent, Muhammadu Buhari even though the Independent National Electoral Commission, INEC had not officially announced the winner of the election He said: “Some people have been saying that militants may return to the creeks because our brother Dr. Goodluck Jonathan lost the March 28 Presidential election. It

is not true. As an ex-militant leader, I want to say it categorically that I will not go back to the creek and no ex-militant in his right mind will return to the creek. “President Goodluck Jonathan has done well in the last six years and after the election he conceded defeat and congratulated his opponent. Many people thought there would have been violence, but

you can see how he (Jonathan) doused the tension by his actions and I think he should be commended by all Nigerians. “I commend the President elect, Buhari for his victory and I assure him that we (ex-militants) will work with him. Let me also use this medium to call on him to continue with the amnesty programme which late former President Umaru

Musa Yar’Adua started. “President Jonathan also continued with the amnesty since he took over power till date. So, it is only wise that Buhari continue with this programme that has ushered peace in the Niger Delta region and Nigeria as a whole.”He said that exmilitants were ready to work with Buhari, who he congratulated for his victory at the polls.

Ogun election manipulated, says Isiaka Kunle Olayeni Abeokuta

he Peoples Democratic Party (PDP) governorship candidate in Ogun State, Prince Gboyega Isiaka, yesterday rejected the results of Saturday's gubernatorial election in which the candidate of All Progressives Congress (APC), Governor Ibikunle Amosun, was declared winner.

Isiaka alleged that the election was manipulated and rigged by the APC in connivance with the Independent National Electoral Commission (INEC). Addressing reporters in Abeokuta, the Director of Media and Publicity of the Gboyega Nasir Isiaka Campaign Organisation (GNICO), Ifekayode Akinbode, said the outcome of the poll was not a true reflection of the wish of Ogun people.

Oba of Lagos: Nigerians protest at ICC

A cross-section of Nigerians in diaspora protesting over the utterances of Oba of Lagos on Igbos at International Criminal Court (ICC)

EU envoy wants tax for rich Nigerians

igerians in Diaspora under the auspices of the Transformation Ambassadors of Nigeria (TAN) have lambasted the Lagos State monarch, Oba Rilwan Akiolu for his threat against the Igbo living in the commercial city. The group, who took their protest to the famous ICC, The Hague, White House in Washington D. C. and Nigeria High Commission in London, noted that the Monarch's threat of throwing the Igbo into the Lagos lagoon should his preferred candidate lose in the state's governorship poll cannot and must not be treated with levity. They likened it to the hate speech that triggered Rewandan genocide and

called on the International Criminal Court to investigate it before an ugly repeat of genocide. The spokesperson of the group, Chris Nsoedo, pointed out that Ndigbo are always at the receiving end of any crises even when they don't have any hand in such ugly developments. He said that time has come for the government of Nigeria to be pro-active in preventing incessant attacks on the South-Easterners, who are known for their positive contribution to their hostile host communities by ensuring that the haters of the Igbo like the Lagos Monarch are decisively dealt with according to the dictates of the nation's constitution.

Kogi APC alleges rigging Muhammad Bashir Lokoja

ollowing the delay by the Independent National Electoral Commission, (INEC), the All Progressives Congress, Kogi State, has alleged the electoral umpire of bed-mating with the ruling PDP to change the actual result of the state assemblies election. The state chairman of the Party, Alhaji Haddy Ametuo, at press briefing yesterday night, alleged

that the Resident Electoral commissioner in the state, was conniving with the state government to compromise where his party was winning. He, however, maintained that the APC , going by the result sheets from its collating agents, has won 10 out of 25 state constituencies. The constituencies claimed to have been won by APC includes; Lokoja -(I),Koton Karfe, Mopamuro, Okene-(1), Ofu, Ankpa (I), Ankpa (II), Dekina/ Biradu, Olamaboro and Ajaokuta

Biodun Oyeleye Ilorin

ead of the European Union Delegation (EU) to Nigeria, Ambassador Michel Arrion, wants the Nigerian government to introduce a new tax regime that will compel the rich to pay tax according to their earnings if the economy of country must grow further. Arrion, who gave the counsel in a chat with newsmen in Ilorin at the end of a two-day visit to Kwara State, also asked the incoming administration of General Mohammadu Buhari to as a matter of urgency deradicalize those who

have been imprisoned for involvement with Boko Haram insurgency as a means of permanently ending the menace. Arrion, who doubles as the head of the EU delegation of the Economic Community of West African States (ECOWAS) had earlier paid a courtesy visit to the Ilorin home of the leader of All Progressives Congress APC in Kwara state, Senator Bukola Saraki, where he stressed the need for Nigeria and Africa to ensure that peace always reigned supreme. He argued that although the Nigerian economy is adjudged as the biggest in Africa, it is still very small when compared to the economies of EU countries.

While answering questions on the outcome of the 2015 general elections, Arion said that Nigeria is "showing a good example" to the rest of Africa especially with the action of President Goodluck Jonathan, whom he noted displayed a rare demonstration of sportsmanship by an African leader by conceding defeat to his challenger at the presidential elections. The EU representative recommended that "the future of Kwara State be based on agriculture" while that of Nigeria be based on "diversification of the economy". He urged the continent to "invent its own democracy" and leverage of the opportunities provided by the

Economic Community of West African States (ECOWAS),to boost the economy of its member country. In his response during the courtesy visit, Saraki urged the EU to support the incoming administration of Buhari in fighting poverty and help with provision of infrastructural development, so that the government can provide dividends of democracy to all electorate. Saraki said that the success achieved during Nigeria's 2015 general election was possible due to the technical support the friends of Nigeria, including the EU provided to the Independent National Electoral Commission (INEC) .

Tekena Tamuno, UI Emeritus Professor, dies at 83 Sola Adeyemo Ibadan

rofessor Tekena Tamuno, one of the greatest Africa's authorities in History, and former Vice Chancellor of Nigeria's premier university, University of Ibadan, died Saturday evening. The great intellectual and ex-President of the Nigeria Academy of Letters passed on in Ibadan

at the age of 83. Tamuno had survived a prostrate cancer surgery in the United States of America and was said to have been hale and hearty since about a month ago, thus catching his admirers by surprise. One of his sons, a lawyer, Tamuno’s widow and a few other relations who received sympathizers flatly declined talking to the press, describing their loss as “a private affair”.

They equally disallowed journalists from copying entries in the condolence register already opened for the deceased, despite being reminded that the late historian was a public figure. Reacting to Tamuno’s death, the Secretary of NAL and fellow historian, Prof. Olutayo Charles Adesina, said the Nigerian academic community and indeed the nation had lost

“an extremely cerebral historian and foremost scholar of the humanities, who combined both the rigour and flexibility needed for a better understanding of his field”. Adesina, a former Head of UI History Department, where the deceased had also taught, said that the late historian was an extremely approachable academic with excellent interpersonal relations qualities.

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Metro

Abductors threaten to kill our kids –Parents

lBeg Nigerians for donations APPEAL Parents of abducted children beg for donations to raise N13 million ransom demanded by the kidnappers Juliana Francis and Camillus Nnaji

Mrs Orekoya with her children - the eldest (left) and the three abducted by the housemaid

idnappers, who abducted three kids through a housemaid at Lawanson, Surulere, Lagos State, have threatened to kill their victims unless the parents immediately pay N13 million. The kidnappers, believed to be a syndicate, contacted the couple a day after the abduction, demanding N15 million ransom. After negotiations, the kidnappers reluctantly accepted to collect N13 million. Although the parents have been running from pillar to post, attempting to reach out to friends, colleagues and relatives to raise the money, it has not been easy for them. Desperate, they begged the kidnappers to further reduce the ransom. The family said the abductors, however, got nasty, threatening to kill the three kids. The kidnappers said that

Mr Leke Orekoya and his wife, Adebisi, were not showing seriousness in getting the money and retrieving their kids. The couple, who are now physically and emotionally drained, are further saddened because the kidnappers have refused to allow them hear the comforting and soothing voices of their kids on the phone. “The situation has not really changed because we have not seen our children. As at now, the kidnappers have stopped us from speaking on the phone with our children. They are threatening to deal with our kids and family if we continue to beg them to beat down the ransom,” the father said. The Orekoyas’ three children, Aderomola, 11 months old, Adedamola 4, and Ademola 6, were last Wednesday abducted by the newly employed house help, identified Mary Akinloye. Akinloye was said to have seen the family’s request for a house help on an online advertising portal, OLX, and called the children’s mother. She was employed on Tuesday. But on Wednesday, she abducted the children while the parents were not at home. Akinloye was said to have pretended she was taking the kids out to buy some items. She never came back until she called, demanding

N15 million ransom. The state Police Public Relations Officer (PPRO), DSP Kenneth Nwosu, said the police were working hard in their investigations and trying all avenues to ensure the kids were reunited with their parents. He, however, added that investigations were not disclosed on the pages of newspapers. Meanwhile, worried that they may lose their kids to those who kidnapped them because they do not have the N13 million ransom, the Orekoyas have turned to Nigerians. The couple have opened account with the United Bank for Africa (UBA). The UBA account is opened in the name of Adedamola Orekoya, who is the eldest of the three kids. The account number is 2055934684. The family is soliciting for donation from Nigerians. The kids’ mother said her pleas and those of her husband that the kidnappers should reduce the money, appeared to anger them. The angry abductors had switched off their phone, plunging the couple further into an anxious state. Adebisi, fearful she had offended them and that they might take it out on her kids, tried several times to call them back. When she could not reach them, she sent text messages.

Alchaneke

The late Epiepang

Her sister was taken to Memorial Hermann Katy Hospital with puncture wounds in the shoulder and a fractured humerus. The family friend was un-

harmed. Alohaneke was booked into the Fort Bend County Jail about 11p.m. He is being held under an ICE hold. No bail amount has been set.

Nigerian stabs fiancée to death Juliana Francis

Nigerian, based in the United States has been arrested for stabbing

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

his Cameroonian fiancée to death. According to Cameroononline, the man, Osa Alohaneke, 56, stabbed his fiancée, Evelyn Ebane Epiepang, 52, to death inside their Mission Bend home on Wednesday. The death of the lady was made known by the Fort Bend County Sheriff ’s Office. Alohaneke was charged with murder after deputies disclosed that he stabbed Epiepang to death and inflicted severe injuries on her sister. Cameroononline stated that deputies found the two women with stab wounds inside the couple’s home in the 16300 block of Alametos Drive. It added that the deputies said it all begun around

5p.m. when Epiepang called to report a family violence incident. She was not at her home at the time. When deputies arrived at the location to take a report, Alohaneke was not around. Two hours later, a male family friend at the couple’s home called to say Alohaneke had returned and was banging on the door. Epiepang then went to the home on Alametos Drive with her sister. That was when Alohaneke attacked them, deputies said. When officers arrived, they found Alohaneke in bloody clothes standing near the women’s bodies. The woman was pronounced dead at the scene.

METRO 11

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Robbers kill policeman, two others in Calabar Clement James Calabar

eavily armed men, believed to be robbers at the weekend invaded Calabar, Cross River State and held many people hostage for several hours. Some police officers fled on sighting the robbers. The robbers killed at least three persons, among them a policeman, during the operation which lasted over three hours. The gunmen raided shops, robbed motorists and commuters. They also stole vehicles in the process. A witness, who did not want his name in print, said the robbers ransacked Prosperous Oil and Gas Limited on Mount Zion Road and held people hostage for close to 45 minutes while carrying out the robbery with a white L200 Hilux van. The van, which was abandoned at the petrol station, is now in police custody. However, as the gunmen took control of the area, shooting sporadically into the air, the residents of the area came out in their numbers with bottles and machetes to confront the armed men while awaiting police arrival. The robbers also raided Ekorinim on the outskirts of the town then proceeded to Ibedmore, one of largest companies selling phones on Calabar Road.

File picture of armed robbery suspects

At the company, the robbers stole phones and other electronic items. From there they went to a supermarket at Ekpo Abasi by Umoh among many other key business areas. The robbers, however, encountered the State AntiRobbery Squad (SARS) patrol team, driving in a blue Hilux van with registration number NPF94I6C at Atamunu by Mount Zion. There, they engaged the police in a gun battle. During the encounter, some police officers abandoned their van and fled. A man, who gave his name

as Mr Eka, had his right hand fingers shattered by the robbers while trying to prevent them from snatching his Toyota RAV4 car. He said: “The people came to me; I thought they were policemen. They said ‘where is the money’ and I tried to take out money. They shot my hand. I saw people running; then I decided to run.” Another victim, who gave her name as Liliana Awan, said she lost her handbag to the robbers while in a tricycle. She said: “I was inside Keke (tricycle). They were just in front of me, they were

telling me I should not move, that they just killed four policemen and that if they see any bad thing in my bag, they will shoot me.” However, the state Police Public Relations Officer (PPRO), Mr Hogan Bassey, said the robbers had been chased out of town and that the police were now in control of the city. He said: “It is true that they came out during the day trying to exploit the calmness of the town. But they have since been chased out of town. So we are in charge of the situation now.”

Distressed building owner sends SOS to Lagos A

n 81-year-old man has raised the alarm over the distressed state of his two-storey building located at 13, Alhaji Bashiru Street, Ojodu, Lagos State. The octogenarian, Pa Ganiyu Davies, who is a former NTA chief cameraman, has sent a Save Our Soul (SOS) message to the Lagos State Government for urgent action to forestall any calamity. According to the man, the building poses a serious danger to both the tenants who refused to vacate at the expiration of their tenancy and other residents in Ojodu area of the state. The country’s first cinematographer said a portion of the building was gutted by fire sometime in 2003. According to him, he invited officials of the Lagos State Building Control Agency (LASBCA) to assess it in compliance with the Lagos State Urban and Regional Planning and Development law. Consequently, the Enforcement Department of the agency, in a notice with reference number LASBCA/IKJ/13/DN 120A and dated May 12, 2013, observed

City Briefs Teenagers held with thumb-printed ballot papers Juliana Francis

etectives attached to the Area C Police Command, Surulere, Lagos State, are now interrogating two young boys caught in possession of thumb printed ballot papers. The two boys, said to be below 18, were picked on Saturday during the governorship and House of Assembly elections in Lagos State. The ballot papers were stuffed in a bag. Police detectives became suspicious after they sighted the kids, carrying a bag during the election. The bag was searched and many thumb-printed ballot papers were discovered. The teenagers were taken to Area ‘C’, Surulere Police Command Headquarters. A police source said that the case had been transferred to the State Criminal Investigation Department (SCID), Panti, Yaba. Similarly, two persons were arrested at the Ajegunle area of the state, for allegedly being in possession of thumb-printed ballot papers before voting commenced.

Soldiers flog lady for wearing shorts Juliana Francis

ome soldiers monitoring election on Mba Street at Ajegunle area of Lagos State flogged a lady for wearing shorts to polling unit for her accreditation on Saturday. The lady was said to have been through with her accreditation and was on her way home when the soldiers saw her. They said her dressing was disgraceful and irresponsible. In another development, some soldiers arrested and punished five men for being in possession of a machete and moving about during the election. The incident also occurred at Ajegunle. According to some voters, who witnessed the incident, the soldiers ordered the men to hold one another on the shoulder and start to frog jump. The soldiers said the punishment was to teach those arrested lessons on the dangers of stoking violence. A witness, Jamiu Fakorede, said: “The soldiers saw six men walking, but only one of them had a cutlass. Immediately the soldiers called them, one of the men bolted.”

Policewoman implicated over missing children TonyOkafor Awka

A The house

that apart from the fact that the building is densely populated, it is in a distressed state and therefore unfit for human habitation. In addition, he said the property was recommended for demolition, while the occupants were given seven days to vacate it. Davies added that the tenants had continued to ignore the several quit notices served on them since then, thereby prompting him to ask his lawyers to notify

LABSCA of the development and seek advice on further steps to take over the matter. The law firm of P.A.G.E., according to Davies, wrote a petition dated February 24, 2015 and signed by one A. E. Taiwo Esq. to LABSCA, intimating the agency of the refusal of some of the tenants to quit the building despite its visibly distressed nature and several warnings to them on the inherent dangers to their lives and those of others in case the

building eventually collapses. According to him, the building is now on the verge of collapse and that could happen any moment. He, therefore, urged LABSCA and other concerned agencies to intervene in the matter without delay and with a view of forestalling another case of collapsed building in the state and the attendant casualty that might result.

female inspector of police has been accused of being the brain behind the abduction of two children in Ogidi, Anambra State. The two children, whose names were given as Chidimma (6) and Mmesoma (4), are nieces to the female police officer. The children were allegedly abducted in October 2014 at a hospital at Ogidi in Idemili Local Government Area of the state where their mother was admitted after a motor accident. The mother of the children,Mrs Egwuatu, was in coma at the hospital for several days before she recovered consciousness. The accident, it was gathered, claimed the life of the father of the kids, Samuel. For this, the lawyer to the Egwuatu family, Chris Ajugwe, has petitioned the Anambra State Police Command over the abduction of the kids.

12 News

house of assembly election

Anambra: APGA wins 25 Assembly seats out 30 Tony Okafor Awka

he All Progressives Grand Alliance (APGA) in Anambra State has won 25 out of 30 House of Assembly seats in the state. The Independent National Electoral Commission (INEC) declared the result yesterday. The commission also rescheduled elections in four out of the 30 state constituencies in Anambra State for reasons ranging from electoral violence, card reader malfunction and loss of election materials. The INEC Resident Electoral Commissioner

in the state, Engr Edwin Nwatarali, stated this at a press briefing, saying that 25 of the already declared constituencies were swept by the candidates of the All Progressives Grand Alliance(APGA), while at press time results of Anambra West state constituency was still being collated. “The delay in the Anambra West result collation was as a result of violence, which was perpetuated by some thugs, but we quickly made contact with the security agencies and they mobilized and came there, and with normalcy restored, results are being collated now,” Nwaqtarali said.

Ogun speaker wins re-election as APC takes 17 seats Kunle Olayeni Abeokuta

he Speaker of Ogun State House of Assembly, Suraj Adekunbi, has won re-election into his Egbado North I State Constituency by polling a total of 8,742 votes. Adekunbi, who was the candidate of All Progressives Congress (APC), defeated his opponents in the Peoples Democratic Party (PDP) and Social Democratic Party (SDP) who polled 7,383 and 1,795 votes respectively. But his deputy, Tola Banjo, lost re-election bid

in Ijebu-Ode Constituency as he polled 9,738 votes to the 10,504 votes scored by PDP candidate, Wale Alausa. The SDP polled 1,539 votes in the election. Of the 26 seats in the state House of Assembly, the APC won 17 while the PDP clinched the remaining nine seats. The state constituencies where APC won include Obafemi-Owode, Abeokuta South I, Ewekoro, Odeda, Remo North, Abeokuta South II, Abeokuta North, Ikenne, Ifo I, Ifo II, Odogbolu, Ado-Odo/Ota I, AdoOdo/Ota II, Ijebu North II, Sagamu I, Ogun Waterside and Egbado North I.

monday, april 13, 2015 NEW TELEGRAPH

APC wins 21 seats in Edo Assembly poll Cajetan Mmuta BENIN

overnor Adams Oshiomhole of Edo state is now a happy man as his All Progressives Congress (APC) party coasted home against the opposition Peoples Democratic Party (PDP) in the House of Assembly elections held on Saturday across the 18 council areas of the state. The APC won 21 out of the 24 seats in the Chief Anthony Enahoro House of Assembly. The Chairman, Board of Trustees of the Peoples Democratic Party (PDP), Chief Tony Anenih-led men picked only three seats in Esanland, Edo Central senatorial district of the state. Besides, at the senatorial level, unofficial results in the rescheduled Edo South senatorial election in Oriomnwon local

government area of Edo State, showed that the Peoples Democratic Party (PDP) candidate, Matthew Urhoghide defeated the incumbent Minority Whip of the House of Representatives and APC candidate, Hon. Samson Osagie. Results from the various polling units revealed that poor voters turn out was responsible for Osagie’s outright defeat at the polls. Osagie defeated Urhoghide in Orhiomwon, the stronghold of the state Deputy Governor, Dr. Pius Odubu and ex-Oshiomhole’s strongman and chieftain of the PDP, Pastor Osagie IzeIyamu. Urhoghide had earlier during the Presidential and National Assembly elections held on March 28 scored 27,000. Urhoghide was leading after the March 28 in six Local Government Areas in the senatorial zone which

the incumbent lawmaker failed to erase. The Resident Electoral Commissioner (REC) in the state, Barrister Mike Igini, had declared that elections concluded in the state. He commended the people of the state for their support for the commission throughout the period of the elections. According to some of the House of Assembly results in Edo South showed that the immediate past Edo State Commissioner in the Board of the Niger Delta Development Commission (NDDC) and APC candidate in Ikpoba Okhai, Mr. Henry Okwuarobo polled 23,571 to defeat the PDP candidate who polled 14,459 votes. The former chairman of Egor Local Government Area and APC House of Assembly candidate for Egor constituency, Mr. Crosby Eribo scored 19, 554 votes to defeat the PDP candidate,

Nosa Adams who polled 12,233 votes. Other results so far collated from the various polling centres revealed that the APC clinched victory in the 10 constituencies in Edo South and those of Edo North senatorial districts of the state respectively. In Edo Central, the APC won the three out of the six in the area. Igini told newsmen yesterday that, “First, Edo State people, I must commend them for the kind of cooperation they gave to the commission. I must commend them for the way and manner they appreciated that we stand for electoral justice, that all that is required from us is to provide a level playing field. Having looked at the reports from other parts of the country, you will see that the outcome of the election is as contested by the candidates; it is a reflection of what the people wanted.”

Candidate petitions INEC over rigging in Nembe Chris Ejim Yenagoa

candidate of the Labour Party, LP in the House of Assembly, Hon. Joseph Ogbe, has petitioned the Independent National Electoral Commission, INEC over the involvement of Bayelsa Deputy Governor, Gboribiogha John Jonah in the rigging that occurred in Nembe constituency 1, during the House of Assembly election. In the petition addressed to the state’s Resident Electoral Commission, Ogbe alleged that armed uniformed men, and thugs acting on the order of the Deputy Governor beat up voters, and snatched election materials. He said that voting did not take place in Nembe Constituency 1 because voters who had resolved to vote ran for their lives due to the violence un-

leashed on them, and as such, urged INEC to order a re-run of the election. Ogbe said it was unacceptable for anybody, no matter how highly placed to undermine the electoral process, and prevent people from exercising their franchise, noting that the Deputy Governor, a retired military man, flooded Nembe and its creeks with gunboats that were manned by military men, who wanted the Peoples Democratic Party, PDP to win at all cost in the area. Part of the petition reads: “Accreditation of voters had started peacefully in Nembe City, and people were ready to exercise their franchise until around 2 p.m. when things started going bad. That was when soldiers, mobile policemen, and thugs started beating up my Labour Party, LP agents, and some voters who boldly insisted on casting their votes.

Cross River State Governor, Liyel Imoke (left), with PDP gubernatorial candidate, Ben Ayade, in celebration over his victory at his itigidi private home…at the weekend

Ekiti LP, APC reject results Adesina Wahab Ado-Ekiti

he opposition Labour Party (LP) and the All Progressives Congress (APC) have rejected the results of the House of Assembly election released by the Independent National Electoral Commission (INEC) in which the Peoples Democratic Party (PDP) coasted home to victory. The LP, for instance, also accused INEC of robbing it in four constituencies during the last Saturday’s House of Assembly election. The Chairman of the party, Mr. Akin Omole,

who spoke with journalists in Ado-Ekiti yesterday, said the alleged fraud was perpetrated in Moba Constituencies I and II , Emure and Ekiti SouthWest Constituency I. The LP chieftain said the party would challenge the outcome of the results at the Election Petition Tribunal, saying the party had evidence to prove its case. Also lambasting INEC officials over what he called conspiracy, a chieftain of the party and a member of the House of Representatives, Hon. Opeyemi Bamidele, called on the INEC Chairman, Prof Attahiru Jega, to sanction those involved

in the electoral fraud. Also, the APC State Publicity Secretary, Taiwo Olatubosun, said in a statement that there were cases of alleged intimidation by policemen and thugs deployed to polling units across the state by Governor Ayo Fayose. He said the intimidation of opponents began on Friday with many unpleasant reports of statesponsored intimidation, which accounted for the low turn-out of voters across the state. The INEC Public Relations Officer, Mr Taiwo Gbadegesin, who refuted the allegation of connivance of INEC officials

with politicians, said: “It is not true. Hoodlums hijacked the process in Ilejemeje and was cancelled by Electoral Officers. The results in all the constituencies were counted in the presence of the party agents from the units to the local government level and were duly signed," he said. Gbadegesin said the results declared from Moba were not hijacked by soldiers or figured manipulated by INEC officials. The INEC PRO also added that the results sheets given to the agents were coded and could not have been forged by any party. Also, in his reaction, the Chief Press Secretary to the Governor, Idowu Adelusi, described the APC as bad losers.

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Defection

Why I parted ways with PDP, by Saraki

Politics

In Oyo, Ajimobi makes history

Governor Abiola Ajimobi has broken the second term jinx in Oyo State. The All Progressives Congress (APC) governorship candidate defeated two of his predecessors to emerge winner in the Saturday April 11 poll. SOLA ADEYEMO reports

fter several attempts by successive governors of Oyo State in its 39 years of democratic experience to break the second term jinx which had eluded them, Governor Abiola Ajimobi has at last made it. Chief Ajibola Ige (SAN) was governor of the old Oyo State between 1979 and 1983 on the platform of the then Unity Party of Nigeria (UPN). He was from Esa Oke now in Osun State. Despite his sterling performance as governor in the days of the late sage, Chief Obafemi Awolowo, Oyo people and indeed Ibadan indigenes wanted their own son to become governor after Ige. He was disappointed when the then young University of Ibadan lecturer, Dr. Victor Omololu Olunloyo, was dragged into politics and he became governor. The slogan “omo wa ni, e je o see” (He is our son let him do it) became a mentality adaptation which worked against Ige, thus thwarting his much-sought-after second term ambition. Olunloyo could have wished to break the jinx as an Ibadan indigene, but his tenure was cut short by the military incursion into politics. Olunloyo was in the saddle for only three months (October 1, 1983 – December 31, 1983) on the platform of the National

Ajimobi

Party of Nigeria (NPN). By January 2, 1992, another democratic era was experienced with the then Chief Kolapo Ishola (also an Ibadan man) riding to the cradle of governance in the Pace Setter state through the Social Democratic Party (SDP). Owing to another military incursion

ayodele.ojo@newtelegraphonline.com

327,310

Ladoja

Accord

254,520

Alao-Akala

184,111

Folarin

PDP

79,019

AFIJIO

OORELOPE

CONTINUED ON PAGE 16

IBARAPA CENTRAL

IBARAPA NORTH

Accord

4,590

Accord

3,802

Accord

5,921

Accord

4,509

APC

5,087

APC

4,730

APC

5,084

APC

5,317

3,743

6,255

2,187

3,317

PDP

1,735

PDP

1,452

PDP

3,201

PDP

3,373

SDP

433

SDP

572

SDP

826

SDP

KAJOLA

ATIBA

776 AKINYELE

Accord

2,955

Accord-2,827

Accord

3,734

Accord

4,509

APC

4,746

APC-13,436

APC

10,396

APC

5, 317

3,078

LP-3,544

7,656

LP-3,842

PDP

1,598

PDP-6,123

PDP

1,396

PDP-3,373

SDP

928

SDP

587

SDP

EGBEDA

AYODELE OJO

APC

precipitated by the annulment of the election won by late Chief

SAKI EAST

DEPUTY Editor, POLITICS

Ajimobi

Moshood Kashimawo Abiola; in less than two years, (January 2, 1992- November 17,1993), Ishola was also booted out until May 29, 1999 when democracy fully got its footing and Alhaji Lamidi Onaolapo Adesina became the state governor on the platform of the Alliance for Democracy (AD). He completed his four year term until in 2003 when Chief Olusegun Obasanjo as president of the Federal Republic of Nigeria on the platform of the Peoples Democratic Party (PDP) hoodwinked the South-West governors then to support his party and in the process, defeating them. Obasanjo had told the SouthWest governors to support his second term bid, as a Yoruba indigene, so that they would also be supported for their second term. The principle of ‘rub my back, and I rub yours’, they would say. Obasanjo however reneged and the governors including Lam Adesina, lost their second term ambitions. Senator Rasidi Ladoja of the PDP defeated him. Ladoja could also have broken the jinx but for the fact that the powers that be, headed by Obasanjo, in collusion with the late ‘Garrison Commander of Oyo State politics’, Chief Lamidi Ariyibi Adedibu, truncated the tenure through an illegal impeachment that produced Otunba Adebayo Alao-Akala as governor for 11 months before Ladoja was reinstated by the Supreme Court. Having destroyed the political base of Ladoja while the interregnum lasted, the PDP then chose Alao-Akala as its flag bearer for

1,205 ATISBO

ONA ARA

776 OLUYOLE

Accord

1,5811

Accord

3,257

Accord-8,887

Accord

10,535

APC

13,495

APC

7,132

APC-7,434

APC

11,903

2,097

2,862

LP-1,592

1,542

PDP

2,625

PDP

2,339

PDP-2,512

PDP

1,953

SDP

2,625

SDP

1,156

SDP-891

SDP

1,687

14 News

MONday, APRIL 13, 2015 NEW TELEGRAPH

Protest as Okowa set for victory in Delta Dominic Adewole ASABA

he Peoples Democratic Party (PDP) flag bearer, Senator Ifeanyi Okowa, is gradually coasting to victory in the governorship contest in Delta

State. The Labour Party’s Great Ogboru, the All Progressives Congress’ O’tega Emerhor and Okowa have been the high-flying governorship contenders in the race. Okowa, in early lead yesterday, had beaten his

Ahmed beats Ajibola, Omotosho in Kwara Biodun Oyeleye Ilorin

wara State Governor AbdulFattah Ahmed has been declared winner of the Saturday’s governorship election. According to results released by the Independent National Electoral Commission (INEC), the All Progressives Congress (APC) candidate polled 295,832 votes to beat his closest rival, Senator Simon Ajibola of the Peoples Democratic Party (PDP) who scored 115,220 votes while Dr. Mike Omotosho of the Labour Party (LP) polled 2,973 votes to make a distant third. Ahmed won in all the 16 local government areas of the state. He was declared by the INEC Returning Officer and Vice Chancellor of the Federal University of Technology, Minna, Prof. Musbau Akanji. According to the results, APC scored 5,525 in Isin while PDP polled 4,202 and LP 97. In Oke-

Ero, APC polled 6,631, PDP 3815 and LP 36 while in Ekiti, home to the PDP candidate, APC polled 6,269 to beat Ajibola which scored 4,398 and LP 229. In Offa, APC scored 18,569, PDP-4778 and LP110. In Oyun, APC scored 10,267 while PDP polled 4,916 and LP 36 while in Asa APC polled 18363 with PDP scoring 6,186 and LP 56. In Ilorin South, APC scored 21,220 while PDP polled 11, 439 and LP 519 and in Patigi, APC scored 16,335 while PDP polled 3,033 and LP 13. In Irepodun, APC polled 14, 970 while PDP got 7,380 and LP 103. In Edu, APC scored 22,963 to beat PDP 9,229 and LP 36. Other results include Ilorin East where APC scored 25,700, PDP 10,923 and LP 296 while in Ifelodun APC polled 25, 528 against PDP 8,086 and LP 521. In Moro, APC scored 16,614 against PDP 6,630 and LP 521 and in Ilorin West APC polled 53, 284 against PDP 18,196 and LP 555.

closest rival, the LP’s Ogboru, who won only three council areas, including Udu, Uvwie and Ethiope East Local Government Areas, out of the 18 so far announced. It was a massive vote for PDP in Ika North-East Local Government Area, where Okowa hails from and Oshimili South council area that harbours the Asaba, the state capital. As the results were trickling in, jubilation erupted at the home town of Okowa in Owa-Alero, Ika North-East Local Government Area of the state. New Telegraph gathered that Okowa may win

other contestants. His closest opponent, Hon. Mohammed Jatau of the Peoples Democratic Party (PDP) secured 282,650 votes. Jatau is the anointed candidate of Governor Isa Yuguda. Declaring Abubakar as the winner, Faruk said that the APC candidate had satisfied Section 179(2) of the 1999 Constitution of the

Federal Republic of Nigeria, as amended, having garnered highest number of total votes cast, and also secured the minimum number of votes required in each of the 20 Local Government Areas of the state. With official announcement of the result, the state now has Abubakar as the governor-elect, with Engr. Nuhu Gidado, as his deputy.

Ebonyi dep gov, Umahi, wins Charles Onyekwere ABAKALIKI

he Deputy Governor of Ebonyi State and Peoples Democratic Party (PDP) governorship candidate, Engr. David Umahi, has won the April 11 gubernatorial election held on Saturday. Announcing the results at the INEC headquarters in Abakaliki, the Ebonyi

State capital, the Returning Officer and Vice Chancellor of Nnamdi Azikiwe University Awka, Anambra State, Prof. Joseph Ohaneku, declared the PDP candidate winner having won in all the 13 local government areas of the state. Umahi got 289,867 votes while the Labour Party (LP) got 124,817 votes. The All Progressives Congress (APC) secured 27,583

people of the council perverted. While they called for the cancellation of the results, the Ogboru’s younger brother, Tunner, who doubles as the party’s agent at the collation centre, staged a one-man protest. He rejected the results collated from Oshimili South where Okowa scored 47,938 and Ika North-East where he polled 72,612, wondering why the numbers of those that voted exceeded those that collected Permanent Voters’ Cards (PVCs) in them. According to him, the Collation Officers of the two council areas hurried-

ly colluded with the PDP and INEC to perpetrate the fraud. The Resident Electoral Commissioner (REC) in the state, Mr. Aniedi Ikiowak, however overruled him. The Director of Media and Publicity of the PDP in the state, and also the PDP agent at the collation point, Hon. Funkekeme Solomon however described Okowa’s early victory as “expected”. He urged Ogboru and Emerhor to swiftly concede defeat and congratulate Okowa, assuring them that his principal will be a governor for all Deltans.

Governor-elect, Mr. Akinwunmi Ambode (middle); All Progressives Congress (APC) Chairman, Lagos State, Oladele Ajomale (right), with others during a victory party in Lagos…yesterday

APC’s Abubakar floors Yuguda’s candidate in Bauchi

he All Progressive Congress (APC) gubernatorial candidate in Bauchi State, Barr. Mohammed Abubakar, had been declared winner of Saturday’s governorship election in the state. Announcing the result of the election yesterday in Bauchi, the Returning Officer, Prof. Mohammed Faruk, said Abubakar polled 654,934 votes to defeat nine

more local government areas to compliment the 16 he has won, leaving Udu, Uvwie and Ethiope East, the domains of Ogboru for him. Protesters led by Ogboru, however, besieged the entrance gate of INEC headquarters in Asaba, denouncing the results that emanated from Sapele Local Government and few others. The aggrieved flag bearer threatened to contest the outcome of the election in court. The protesters alleged that the election in the council area was rigged and the will of the good

votes. The state governor, Chief Martin Elechi, was unable to deliver his Ikwo Local Government Area to his anointed candidate, Sir Edward Nkwegu, of LP. Meanwhile, the three opposition parties, APC, LP, and All Progressives Grand Alliance (APGA) have threatened to challenge the outcome of the election.

Suswam congratulates Ortom ...as APC leads in Benue guber race Philip Nyam and Cephas Iorhemen Makurdi

overnor Gabriel Suswam of Benue State has congratulated the All Progressives Congress (APC) gubernatorial candidate in Saturday's election, Dr. Samuel Ortom, as he leads his closest rival and Peoples Democratic Party (PDP) candidate, Hon. Terhemen Tarzoor, by a wide margin. Ortom is leading with the results of 20 out of 23 local government areas of the state so far declared by the State Returning Officer, Prof. Hayward Mafuwai scoring 353, 692 votes beating Tarzoor with 277, 057 votes. With the results of only three local governments yet to be declared, Ortom's supporters yesterday took to the streets of Makurdi chanting victory songs

and celebrating ahead of the declaration of the final results by the Independent National Electoral Commission (INEC) today. Ortom won in 11 local government areas while Tarzoor won in nine local government areas of the state. However, the results as released showed that in the State House of Assembly, the PDP was ahead of the APC as it secured 14 seats, APC got 10 while the Labour Party (LP) got one seat. The State Assembly is made up of 30 seats. Hayward told journalists at press time that elections in Buruku Local Government Areas was inconclusive and was being conducted. He expressed hope that the election would be concluded and results announced today, Monday. Our correspondents who were at the INEC

headquarters in Makurdi observed that the election was characterized by pockets of irregularities ranging from kidnapping and abduction of eligible voters by political thugs, snatching of sensitive and non-sensitive materials, card reader challenges, over voting in some polling units and burning of INEC materials meant for the exercise. Meanwhile, Governor Suswam had called Ortom in the morning to congratulate him for a deserved victory ahead of the announcement of the result today. An aide to the APC governorship candidate who confirmed this to our correspondents said: "It is true. Governor Suswam called Dr. Ortom at about 10:56a.m. and congratulated him for winning the governorship election. He said the victory was the making of God and wished Dr. Ortom well."

News 15

NEW TELEGRAPH MONday, APRIL 13, 2015

INEC declares Ambode as Lagos governor

lAgbaje congratulates winner Wale Elegbede

agos got a new governor for the next four years yesterday when the candidate of the All Progressives Congress (APC), Mr. Akinwunmi Ambode was declared winner of Saturday’s gubernatorial election by the Independent National Electoral Commission (INEC). Ambode polled 811,944 to defeat his closest rival and candidate of the Peoples Democratic Party (PDP), Mr. Jimi Agbaje who scored 659, 788 votes. Declaring the result of the election held in the 20 local governments of the state, the state Returning Officer who is also the Vice Chancellor of the University of Ibadan, Professor Isaac Adewole, declared Ambode winner of the governorship election after satisfying the constitution-

al demand of the election. “I, Professor Isaac Adewole hereby certify that the election held on the 11th of April was free and fair and that the candidate of the APC, Akinwunmi Ambode, having satisfied the requirement of the law by having 25 per cent in all the local governments and scoring the highest number of votes is hereby returned as the elected governor of Lagos State,” he declared. Statistics from the election indicate that 1,641,950 voters were accredited from the 5,827, 846 registered voters in the state. A total number of 1,534, 029 votes were cast during the election, out of which 1, 493,462 were declared valid, leaving 40, 567 to be rejected invalid votes. Ambode, who had an overall margin lead of 152,206 votes over Agbaje, won in 15 local government

areas. Agbaje, however, won in five local governments – Ajeromi-Ifelodun, Amuwo Odofin, OshodiIsolo, Surulere and Ojo. Other details in the election result show that the Alliance for Democracy came third in the standings with 6,087 votes; ACD came fourth with 2,521 votes, while ACPN had 2,372 votes. The candidate of the PPN finished last on the log with 338 votes. Speaking with newsmen at the state collation centre, PDP’s agent, Wahab Owokoniran, who refused to sign the result sheet at the end of the announcement, said his party is rejecting the result, noting that there were various reports of manipulation, rigging and compromise of the process by APC and electoral officials. He said: “We have rejected the result because it is not a true reflection

of the voice of the people. Already, we have petitioned the INEC and we backed our protest letter with substantial evidences that proved that the APC actually manipulated the process.” However, the party agent of the APC, Senator Tokunbo Afikuyomi, hailed the process, saying that Lagos residents have spoken through their votes. Addressing newsmen at the gathering, the Assistant Inspector General of Police in charge of Zone 2, AIG Mbu Joseph Mbu, rated the election high, saying that the security agencies

have performed creditably well. He said: “This is going to be one of the best election ever conducted in Lagos State and whoever wins is winning on merit, whoever comes out as governor is doing so on merit and nobody should begin to cast aspersion on the police or INEC. We have done our best and there is no problem. I am not in possession of the results but I know it was keenly contested election, and this is democracy.” Meanwhile, Agbaje has put a phone call through to Mr. Akinwunmi Ambode,

El-Rufai emerges winner in Kaduna guber race Ibraheem Musa Kaduna

he Independent National Electoral Commission

(INEC) has declared the gubernatorial candidate of the All Progressives Congress (APC), Mallam Nasir Ahmed El-Rufai as winner of Saturday’s

Oyo State Governor, Abiola Ajimobi; his wife, Florence and Speaker of the state House of Assembly, Mrs. Monsurat Sunmonu, in the midst of a jubilant crowd shortly after his declaration by the Independent National Electoral Commission (INEC) as the winner of the governorship election in Ibadan…yesterday.

Jubilation in Enugu as Ugwuanyi wins Uwakwe Abugu Enugu

upporters of the governorship candidate of the Peoples Democratic Party (PDP) in Enugu State, Hon. Ifeanyi Ugwuanyi, went into celebrations in parts of the state yesterday as he was declared winner of Saturday's election. The PDP candidate polled 482,277 votes and won in all the 17 local government areas of the state. His rival, the All Progressives Congress (APC) candidate, Chief Okey Ezea, got 43,839 votes.

While announcing the results, Prof. Edoga stated that the PDP candidate satisfied all the requirements that would qualify to be declared as a winner of the election since he won well above the required two-thirds majority of the local councils. The details of the results in 16 out of the 17 LGAs as announced yesterday are: Aninri, PDP39216, APC-886; Enugu North, PDP-17829, AP -2050; Enugu South, PDP15889 , APC-16333; Ezeagu, PDP-32995, APC-1307; Igboetitii, PDP-21524, APC -2256; Igboeze North, PDP51948, APC -2482; Igboeze South, PDP -18120, APC

6231; Isiuzo PDP- 21651, APC -1813; Nkanueast, PDP-12571, APC-975; Nkanuwest, PDP-16683, APC -1148; Nsukka, PDP -41625, APC-9416; Ojiriver, PDP -13484, APC-2394; Udenu, PDP -40120, APC-1463; Udi, PDP -26892, APC -3934; Uzo Uwani, PDP -17947, APC -1915; Enugu East, PDP-63660, APC- 2062. As soon as the returning officer for the Enugu governorship election and Vice Chancellor of Michael Okpara University of Agriculture, Umudike, Prof. Hilary Edoga, declared Ugwuanyi winner of the election, shouts of "gburu gburu," the name Ugwuanyi is fondly called

the Governorship Candidate of the All Progressives Congress (APC), congratulating him on his victory in Saturday’s contest. Agbaje made the call at about 6:50p.m. “I just made a phone call to congratulate Mr. Akinwunmi Ambode, the governorship candidate of the All Progressives Congress,” Agbaje said, according to a statement by the Director of Media and Publicity for the Jimi Agbaje Campaign Organisation, Felix Oboagwina. Oboagwina said this was all that would be said at the moment.

by his admirers, rent the air and the jubilation spread across the state. Ugwuanyi, who spoke in his country home, Orba, shortly after he was declared winner, said dedicated the victory to God and the people of Enugu State. The governor-elect said he would be governor for all. However, the state chapter of the APC has petitioned the state Resident Electoral Commissioner (REC), calling for the cancellation of the elections on the basis of alleged irregularities. APC state chairman, Dr. Ben Nwoye, signed the petition.

gubernatorial election in Kaduna State. Releasing the results yesterday, the Returning Officer, Prof. Jaáfaru Kaura said that El-Rufai polled 1,117,635 votes to defeat Governor Muktar Ramalan Yero of the Peoples Democratic Party (PDP) who scored a total of 485,833 votes in the 23 local government areas of the state. A breakdown of the results showed that APC won in 17 local government areas out of the 23 area councils in the state, while PDP won in only six local government areas. Kaura, who declared El-Rufai as Governorelect, said that he has met the 25 per cent requirement in two-thirds of the 23 local government areas and scored the highest number of the total vote cast. Earlier, Governor Yero had called El-Rufai at about 3p.m. to concede defeat and congratulate the Governor-elect on his victory.

Ex-Speaker, Masari, wins Katsina guber election

former Speaker of the House of Representatives, Alhaji Aminu Masari, has won the governorship election in Katsina State under the platform of All Progressives Congress (APC). The Returning Officer, Prof. Lawal Bilbis, said yesterday that Masari polled 943,085 votes to defeat the Peoples Democratic Party (PDP) candidate, Alhaji Musa Nashuni, who scored 476,768 votes in the Saturday’s elections. Bilbis said that PDM candidate, Senator Yaku-

bu Lado, got 50,361 votes while Alhaji Umar Abdullahi of the All progressive Grand Alliance (APGA) secured 42,302 votes. According to the retuning officer, seven political parties took part in the election. “Having satisfied the requirements of the law and scored the highest the number of votes, Aminu Bello Masari of APC is declared the winner and returned elected,’’ Bilbis said. He said that the election was free, fair and conducted in accordance with the law.

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

the 2007 election, thereby frustrating Ladoja’s second term ambition. Alao-Akala was in government as substantive governor between May 29, 2007 and May 2011. He struggled so hard to ensure he secured the second term, but he also failed because of some factors. He had a brush with the Alaafin of Oyo, one of the arrowheads that made him governor for 11 months in the first place. Aside this, he was not in the good book of the Olubadan of Ibadan land, as well as some elites of the state, who were averse to his style of leadership. Political gangsterism coupled with factional clashes between rival members of the National Union of the Road Transport Workers (NURTW) that led to the untimely death of many innocent souls all contributed to his losing his second term bid to the then Action Congress of Nigeria (ACN). Senator Abiola Ajimobi thus became governor, having defeated his Ogbomoso contender. But for Adedibu who benefited from the emergence of Alao-Akala as governor, the Ibadan elites never wanted their monopoly of the state governance to be broken by any non-Ibadan person. Having taken back their ‘inheritance’ so-to-say, Ajimobi had since assuming office in 2011 been working towards beating any factors that could inhibit his securing that second term. Unlike his predecessors who had one brush or the other with the Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi III (political determiner of Oyo town politics), Ajimobi succumbed to all the wishes of the monarch. He treated the Alaafin with the utmost respect and awe required to the extent that he went against the wishes of his Ibadan people. Alao-Akala, had in annoyance that the Alaafin contributed to his failure in 2011 by defecting to the ACN, tinkered with the constitution of the state Council of Obas and Chiefs by making the chairmanship of the Council rotational. Until then, Alaafin was the permanent chairman of the council. In the belief that such was to pay the Alaafin back in his own coin, the Alaafin approached the state High Court to challenge the rotational arrangement. The Olubadan, Oba Samuel Odulana Odugade, who was to be the chairman of the council, was denied the opportunity with the litigation that stalled the process. Though, to many elites of Ibadan, if Ajimobi had wanted to do it, he could have defied the court arrangement and ensure his Oba became the chairman, he decided not to do so in order to please the Alaafin. For the whole four years that Ajimobi has reigned, the Council of Obas and Chiefs did not hold any other meetings apart from the maiden one that ended up in crisis at the House of Chiefs, Secretariat, Ibadan. The fact that Ajimobi befriended the Alaafin, did his will, and ensured that his son, Prince Akeem Adeyemi, was nominated as House of Representatives candidate for the Oyo federal constituency, and won, made the monarch to seriously work for him to win the election. Aside this, Ajimobi also curried the favour of all the major

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

The jinx breaker

Ladoja

Alao-Akala IWAJOWA

Folarin

APC

12,491

PDP

2,937

Accord

2,980

4,413

SDP

2,150

APC

7,990

PDP

2,164

1,478

SDP

3,959

PDP

4,198

SDP

719 ISEYIN

IDO

1,776

SDP

1,724

4,136

SDP

1,292

PDP

1,663

SDP

1,504

OYO WEST

1,076 ORIIRE

8,368

7,014

PDP

3,782

SDP

APC

10,337

PDP

3,978

SDP

3,771

PDP

1,416

19,351

SDP

690

PDP

1,647

SDP

224

OYO EAST

2,815 OGO OLUWA

2,389

5,012

PDP

494

SDP

APC

10,037

PDP

848

SDP

2,765

PDP

1,393

2,805

SDP

785

PDP

4,773

SDP

822

IBADAN SOUTH EAST

377 OLORUNSOGO

1,754 SURULERE

Accord

4,052

APC

5,284

Accord

3,284

9,675

APC

4,471

PDP

2,575

SDP

676

Accord

16,460

3,527

APC

16,411

PDP

434

5,335

SDP

176

In spite of criticisms against his administration... Ajimobi has beaten his contenders hands down through his calculative actions

6,448

APC

5,974

5,661

4,770

APC LP

1,404

Accord

3,169

8,472

APC

1,259 IREPO

Accord

13,093

APC

9,543

3,571

7,702

APC LP

2,097

Accord

3,836

5,865

APC

3,021 SAKI WEST

Accord

traditional rulers in the state by appointing their children as commissioners. These include the Alaafin, the Olubadan of Ibadan and the Soun of Ogbomoso. Alaafin controls all the lesser Obas, particularly those from the Oke Ogun zone, and just like they followed his directive in 2011 to dislodge Alao-Akala, it was easy for them to do same if any of them chose to remain relevant under the Alaafin’s kingdom. Ajimobi also caged the wild NURTW members through the combined forces of the military apparatus in the state. Peace was restored as people could sleep with their eyes closed unlike the days of his predecessors. He latched on the peccadilloes of the Ladoja and Alao-Akala in the manner they illegally removed the existing council chairmen, thereby refusing to conduct local government election throughout his four-year tenure. If he had conducted the election, Ajimobi would ordinarily have lost some councils to the opposition and it could have affected him in the election. He

2,497

SDP

PDP

2,856

9,826

PDP

10,912

PDP

Accord

10,286

APC LP

IBADAN NORTH WEST

1738

APC

1,601

19,547

ITESIWAJU

8,410

6,963

10,787

8,194

APC

5,383

APC

Accord

OGBOMOSO SOUTH

LAGELU

IBARAPA EAST Accord

was hand-picking the caretaker chairmen based on their readiness to do his will. To him, anyone of the caretaker chairmen that failed to deliver his council was doomed, reason they all assiduously worked to secure their constituencies. In spite of criticisms against his administration that he sent traders away from the streets; destroyed their shops without first providing alternative for them; embarked on some capital projects considered white elephant, Ajimobi has beaten his contenders hands down through his calculative actions. Ladoja could not realise his second term bid because, according to many, the manner he chose his political appointees without allowing a democratic congress, made many of them to defect from the Accord party to APC at the twilight of the elections. The fact that PDP fielded a f Senator Teslim Kolawole Folarin, who was opposed by many of the party’s aspirants, leading to their defection to other parties, was also an advantage for Aji-

mobi. If all the aspirants of the PDP, including Alao-Akala, Seyi Makinde, and the rest had swallowed their pride and united under an umbrella, the odd would have been too high for Ajimobi to bear. Similarly, the lone fight of Ladoja, leading to fragmentation of the votes among the opposing parties, contributed to their fall. If Seyi Makinde that ran on the platform of the Social Democratic Party (SDP) had teamed up with Ladoja and Alao-Akala had followed suit, sequel to their dumping the PDP, Ajimobi would not have been able to win the election or secure the second term bid. Just like Chinue Achebe said in one of his books, “when brothers fight to death over their father’s property, it is a stranger that comes to inherit their father’s estate,” the PDP brothers, out of their self-inflicted implosion, have given their inheritance to the APC. With his victory, Ajimobi has metaphorically signed the retirement forms of Ladoja and AlaoAkala from the governorship race of Oyo state.

Politics 17

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Senator Gbemisola Saraki has justified her defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). BIODUN OYELEYE reports

Wrong campaign theme Perhaps the greatest undoing of the PDP in its relationship with Senator Gbemisola Saraki was in the virulent attack on the Saraki dynasty. Choosing a theme that spoke against “40 Years of Slavery under Saraki” when Gbemisola was a core member of the party was insensitive and wrong strategy. Thus, Gbemisola, as she is fondly called, began to feel uncomfortable because her father’s name was being messed up. She was said to have complained to leaders of the party and indeed, one of them, former Deputy Governor, Joel Ogundeji, gave a lecture where he extolled the virtues of the late Olusola Saraki, who incidentally made most of those in the PDP top echelon in his lifetime. But the damage had been done. Thus twice when the First Lady, Dame Patience Jonathan, came visiting, Gbemisola was absent from the crowd. Ditto when President Goodluck Jonathan himself came to campaign and also when the party went to launch its state campaign at Bode Saadu. Gbemisola referred to this matter in the statement that officially announced her defection. She said: “Our ideology finds roots in championing the cause of the grassroots; upholding equity and justice, and especially the vision for a meaningful and passionate leadership. We believe that a true leadership must be predicated on certain values that must be sacrosanct, which must also follow the sanctity of democratic ethos. “When we joined Kwara PDP, it was for the main reason of enlarging these inalienable values and re-engineering the processes of leadership through the party in order to mirror the true aspirations of Kwarans. Considering the circumstance of the party at the state level, we knew we had to work harder and make sacrifices to deliver a party that would represent the yearnings of our people. “The ensuing pattern of animosity within PDP was strongly placing our ideology on the crosshair of political attacks by elements within the party. Furthermore, the party was evidently hijacked from evolv-

Why I parted ways with PDP, by Saraki

Saraki

ing into a political force that can accommodate the broad interests of the people but allowed to tarry to the selfish ambitions of some elements within its fold. “This rubbished the sanctity of democratic ethos of any true leadership and frustrated any semblance of cohesiveness of the party. Yet, we worked assiduously to instil decency and political maturity necessary to force an essential sense of direction. We failed. Instead, these elements within the party developed an obsession to waging verbal and psychological attacks on the Gbemisola political family and our ideals. The focus was to frustrate our membership of the party, arguably, one of, if not, the largest within Kwara PDP. “Thus, instead of presenting pragmatic solutions and workable templates for developing Kwara, the party abandoned presenting alternative policies

We are confident in the commitment of the Presidentelect to social justice, rule of law and economic posterity for all

and went on meaninglessly attacking and castigating not only the opposition, but even those within the party, especially my very self for no other good reason other than the accident of my birth; a birth of which, by the way, I am very proud of.” Belgore/Bola Shagaya factors Another factor that hastened Gbemisola out of the PDP was the combination of Hajia Bola Shagaya and Mr. Dele Belgore (SAN) both of whom worked to sideline her in the party. Shagaya, a wealthy businesswoman and friend to Patience Jonathan, came to the PDP to assert her wealth and relationship with Aso Rock. Thus, even though she is new to the politics of the state, she worked as party leader. She nominated the Minister of National Planning, Dr. Abubakar Suleiman even when Gbemisola had been reportedly slated for the position. The

minister is not as grounded as Gbemisola in the politics of the state. Shagaya also nominated her son, Sheriff, as House of Representatives candidate for Ilorin West/Asa even when the Sarakis are known to be very strong in the area. She was alleged to have declared that she could not work with Gbemisola even though the latter has a large followers and controlled a majority of the party’s executive committee membership. Shagaya and her clique fought hard to remove the leadership of the party in Ilorin West from Gbemisola until she left the party. Again, when Senator Simon Ajibola won the party’s gubernatorial, Shagaya rose against him with Belgore as her choice candidate. Gbemisola, along with other candidates stood with Ajibola and threatened CONTINUED ON PAGE 20

MONDAY APRIL13, 2015 NEW TELEGRAPH

Opinion What Jonathan owes Ndigbo Dominik Umosen

riginally, I intended to suggest that even if for the sake of the monicker “Ebele” and its significance to Ndigbo, President Goodluck Jonathan should prevent the possibility of the incoming administration resuming the well-worn politics that always stalled a second bridge across the Niger at Onitsha. Despite that he hands over to an All Progressives Congress administration headed by retired General Muhammadu Buhari on May 29, this year, he can still forestall reversion to routine by frustrating his successor from ignoring it, despite its strategic importance to the country. Of course, all he is likely to get for doing this is perfunctory applause, his administration having had sufficient time to complete the project before he lost re-election. But because it is better late than never, he can pillory his successor to continue by making its completion irreversible. President Jonathan himself acknowledged the responsibility he imposed on himself with his nominal association with an illustrious son and first executive president of the country, late Dr Nnamdi Azikiwe whose legacy the first bridge is. Even if he were clueless as his traducers allege, the more reason to disappoint them by programming completion of the second bridge to mark his gratitude for the region’s solidarity. Another reason is the pressing need to reassure Ndigbo that there is no agenda to lock Nigeria’s third largest ethnic group permanently outside

the scramble for power and influence as they allege. Since the civil war ended in 1970, Ndigbo has consistently alleged that ‘reintegrated’ is euphemism for being merely tolerated. The allegation is that the reluctance of successive regimes to upgrade the original bridge, despite ample evidence that it is outdated and grossly insufficient for its current volume of traffic, validates their claim that issues affecting the area hardly attract warm reception, in consonance with treatment reserved for conquered territories. Reducing the project to a matter for endless politiking, Ndigbo say, validates their claim. And neither the peripathetic nature of the Igbo, permanently in search of entrepreneurial space to expand into nor his rugged, uncompromising and often brash disposition has helped to lessen tensions with host communities; tensions which often snowball into allegations of persecution like the hoopla generated by the alleged order by the Oba of Lagos, Oba Rilwanu Akiolu, directing Igbos and non-natives to vote only for a particular candidate in the gubernatorial elections. Neither official denial of the directive by the Oba’s palace nor a similar denial by the APC has convinced Igbo and other non-natives in Lagos that they are not just being targeted for persecution. National Leader of the party and former governor of the state, Asiwaju Bola Tinubu, said: ‘we have been paying school and W.A.E.C. fees for all students from different tribes, including Igbos in Lagos. Have you been collecting the school fees from the Oba of Lagos’ Palace’, Tinubu asked in a desperate bid to woo back disillusioned Igbo voters.

Attributing the anti-Igbo sentiment to mischief makers, Tinubu said: “Ebuka from Anambra State, not Oyo State, won the Spelling Bee Competition. We did not do Iwu (rig) against him and turn the vote. We did not discriminate against him, he acted as a one-day governor. So Igbos can not say they have not governed Lagos because Ebuka and others acted as governors. We sent Ebuka to Switzerland and to OAU where he got his degree and went back for his Masters on our scholarship. Now Ebuka works for Oando as an executive and is in Canada as we speak”, Tinubu said. Resorting to this argument might have signposted desperation but it was the least the masterstrategist could do to avert disenchantment with the hare-brained directive which has since been denied. Coming after controversial deportations by the state government, plus lingering allegations of xenophobia against Gov Raji Fashola, Tinubu must have wracked his genius to arrive at this reassurance that Igbos have no reason to fear the possibility of another Gideon Akaluka beheading being re-enacted in Lagos, instead of Kano. It would take more than Tinubu’s gallant efforts and fancy talk to reassure Ndigbo that there is no reason to fear wherever entrepreneurial tourism might take them. Completing the second Niger bridge will definitely boost such reassurance that the people still have a stake in Nigeria. For President Jonathan, there can be no greater repayment of gratitude for the unprecedented solidarity from the South-East during the poll. Surely, that can not be too much to ask in the name of the original Ebele.

Something lacking in the campaigns Kingsley Ogbeide-Ihama

t is not because we generally lack retentive memories. But I have discovered that most Nigerians have a high capacity to forgive any wrong-doings and let things move on. However, there is a precondition to this leniency. It is the ability of the wrong-doer to change from the old ways, which of course includes even a change while winding-up or at the dying minutes. But to expect the people’s leniency or understanding without the willingness or any manner of exhibiting a departure from the old-wrong -ways, could bring about a startling realization of how retentive the people’s memories are and by extension, how unforgiving they could be. Recently, a friend had something to do at Ikom, a local government area of Cross River State. He called on the third night of his stay to inform me about his findings. “Such a wonderful people” he claimed. “Warm and full of charm for their visitors” but he concluded unfortunately, “it is a place that has been caught up by the same bug as now common in Edo State”: The bug of erratic electricity power supply, suppressing every attempt of the people at industrialization and making a hopeless situation of the daily struggles with sweat swathed nights or provocative sounds of electricity generators. Narrating my friend’s experience at Ikom is nothing unusual to most

of us. But what I find rather funny was his claim that the moment he checked into the hotel, he was offered a hand-fan and promptly informed that it would be useful in drying up his sweat later in the night. Electricity power, they say would certainly not be on. And they can no longer bear the cost of running the hotel on diesel powered generator. He also told me of how much he cherished the hotel management’s honesty, but maintained he was convinced more to be their guest as a result of his inability to afford the more promising and expensive hotels, than any other reason. Therefore, outside, under the moonlit skies, while he fanned himself with the hand fan, he thought about the last elections and considered that I should join in his imagination of what the Ikom people as well as Edo State indigenes would be considering before making their choices. We both shared the feelings that situations like these make people become apolitical. While some brandish their total rejection of the political class, they have also opined that if their votes really mattered, it would have been impossible for their situation and feelings to be left unattended to in such a blatant manner. Perhaps one other quality that should be added to the claim that Nigerians are some of the happiest people on earth is also the profound magnitude of their understanding and leniency. Even when those offered their political mandates refuse to provide an understanding of the people’s plight, let alone to offer a so-

lution to such problems, the people still welcome the campaigners into their fold and painstakingly await their promising of a final resolve to solve all known and unknown problems. And as an added palliative to the rekindled promises, is the hail of blames on the opposition. Somewhat like saying “...but while his men were sleeping, his enemy came and sowed weeds among the wheat and went away” Anybody on hearing why the harvest of the wheat is taking such a long time to manifest, or can no longer manifest is supposed to blame the enemy’s handiwork; and invariable advance the planter his sympathy or understanding. But even as cogent as this excuse may seem, it should not be wished away that the planter has grossly failed in his responsibility to remain awake and keep watching over the farm, if it was considered so dearly. In the same vein, petroleum products have become very difficult to find in most parts of the country today. Trending is the usual accusation of the enemy having sown and is still sowing the bad seed; and supposedly under the ‘good’ watch of some selfacclaimed diligent caretakers. By now, any good thinker would have thought that emphasis is placed on how to solve the recently nagging problems even beyond a sole concentration on campaigning. Some of the campaigners in the various States ought to have constituted themselves into action committees in ensuring that there are no sharp practices in

the distribution of the petroleum products, having told the public that there is an abundant stock. And when possible, to appeal to the cabals who have always ensured that the subsidized kerosene (cooking fuel) never get to poor Nigerians at the recommended price, to loosen their grip and be mindful of the critical period in order for the campaign messages to appear matched with actions. However, just as it is said about time, vice and virtue; the three phenomena which never remain constant, therefore the political campaigners have become oblivious that time has since moved on, and to realise that the critical elections have suddenly caught up with all manners of our antics. Since the culture of always doing the right things has not been fully nurtured in most of us, the campaigners were just behaving as if the time was up for them to do anything meaningful about their promises. They even resigned that the time was over for them to amend their promises with at least a soothing make-believe. They were behaving as players who just lost their penalty kicks, only wishing that the referee would order a retake. Such is the dilemma when a people fail to match their campaigns or promises with actions for too long. And critically too, such is it at a time the match umpire like Prof. Attahiru Jega has also moved on to be on the side that history would eternally commend. • Ogbeide-Ihama wrote in from Benin City.

NEW TELEGRAPH MONDAY APRIL 13, 2015

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Buhari and a new Nigeria

t last, a new dawn beckons with the emergence of Gen. Muhammadu Buhari as the winner of the March 28 presidential election. For the first time since independence, a sitting president was defeated at the polls and conceded to his opponent. These two landmark developments signposted the dawn of a new Nigeria because they placed the nation on a global pedestal. Now, Nigeria can be counted among nations where an incumbent successfully organised a presidential election, was defeated and graciously conceded defeat. The widespread relief that followed the peaceful conduct of the election apparently boosted investor confidence as the Naira rebounded from its previous weak position against the dollar while the capital market also recorded some impressive gains. Nigeria has also been receiving positive reviews in the international media, a situation which portends the birth of a new nation. Therefore, Buhari is coming onboard at a time when many areas of the economy are in dire need of a boost and radical re-engineering. The current record of public accounts gives much cause for concern, especially against the backdrop of the fact that several probes into issues of alleged public sector

fiscal malfeasance have come to nothing. Millions of youths are in need of jobs while there is general discontent with the level of insecurity in the country. Also, impunity has been a major source of concern for Nigerians while the people yearn for new approaches to governance in several other sectors. Therefore, Buhari comes with a loaded bag of expectations, and given Nigerians’ penchant for quick fixes, he must be cognisant of the fact that he needs to hit the ground running. Nigeria at this time, needs a leader who will heal its many fractures and fissures. Buhari must rise to the occasion, in word and deed, and unite Nigerians. He needs to combine the roles of a president and statesman in order to identify individuals who can help him rebuild and remake Nigeria. He must not adopt a winner-takesall attitude, which has been the bane of successive governments in Nigeria. He needs to match words with action by ensuring that areas badly in need of change swiftly begin to feel the impact. Nigerians have for too long been left to wallow in hunger, despair and deprivation. Buhari must rise beyond partisan interests and put his acceptance speech promise of leading a Nigeria for all, irrespective of who voted for him and who did not. He needs to identify key areas in need of solutions and set

about providing answers to lingering questions in a holistic manner. Having ridden on the crest of his acclaimed integrity and aversion to corruption, Buhari must cleanse the entire system of graft and overhaul the nation’s public accounts procedures. His campaign promise to ensure a functional public procurement system must go beyond words because the nation is in dire need of men and women whose word is their bond. No doubt, outgoing President Goodluck Jonathan has recorded significant strides in a number of areas. Buhari would do Nigerians a world of good by staying off the beaten track of abandoned projects. A recent report said that about 12,000 federal projects have been abandoned in the last 40 years nationwide. The reasons for the abandonment of these projects need to be carefully studied so that past public officials found culpable in the malfeasance are brought to book. Three years ago, founder of the Africa Diaspora Research in Charis Complex, Centurion, South Africa, Prof. Kole Omotoso, said the Abandoned Projects Audit Commission set up by President Goodluck Jonathan in 2011 identified the huge number of abandoned projects. Former presidential candidate of the Fresh Democratic Party, Rev. Chris Okotie, once said, “Nigeria, with a GDP of $232 billion,

displaced Egypt as Africa’s second largest economy behind South Africa which has an estimated gross domestic product of $368 billion. Yet, it is unthinkable that we have no functional railway, stable power supply and a seamless energy sector. Our country earned more than $50 billion in oil revenues in the last 50 years, but we remain the only petroleum exporter that imports fuel. We certainly must fix the fault lines.” Surely, Buhari needs to fix all the fault lines which have undermined the nation’s quest for rapid industrial and technological growth. There must be no room for sacred cows or untouchables so that Buhari’s words will be highly respected in the international community. Nigerians also expect Buhari to review the electoral process, which has been a major source of concern to the people. Lingering corruption trials should be speedily concluded so that the nation can proceed on a clean slate into the future. It is meaningless for public officials to travel thousands of kilometres around the world in search of investors when the system is reeking with financial recklessness and mind-boggling graft. As Buhari has said, Nigerians should not expect overnight miracles from his administration. The people should therefore provide support to the Buhari administration to enable it to achieve the goal of building a virile nation.

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Politics

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Saraki: Why I parted ways with PDP CONTINUED FROM PAGE 17

fire and brimstone if the matter was not resolved in his favour. Shagaya lobbied Aso Rock long enough and it was gathered that the PDP leadership had issued a letter to Belgore before Bishop David Oyedepo and Pastor Ayo Oritsejafor intervened and changed the matter. During the presidential campaign in the state, Belgore, who campaigned against Gbe-

misola and Governor Abdulfatah Ahmed in 2011 on the platform of the defunct Action Congress of Nigeria (ACN) allegedly sidelined GRS to demonstrate the face-off between them. As Coordinator of the Presidential Campaign in Kwara State, Belgore, according to allegations from Gbemisola followers, only gave her a paltry N50,000 to mobilise her supporters for the event. She did not attend and her followers

stayed at home. The Buhari /APC leadership factor When General Muhammadu Buhari became the APC flag bearer, sources confirmed that the intensity of settling the political rift between Gbemisola and his brother, Bukola increased. Several meetings were conveyed by APC leaders with the help of some traditional rulers in the North where the need to con-

We found in APC a platform that mirrors the ideals of our political family both in content and context especially under the leadership of General Buhari

solidate the Saraki dynasty which has redoubled its importance with the role played by Bukola Saraki in the APC was highlighted. Eventually Gbemisola agreed to the peace term which included an assurance that the party will always accord women a right of place in its policies and programmes. Again, she hinted about this, and described the neglect of women in the PDP as one of the rea-

sons that convinced her PDP was not the right association to keep. “After wide consultations, we found in APC a platform that mirrors the ideals of our political family both in content and context especially under the leadership of General Muhammadu Buhari,” she said on Tuesday, adding: “We are assured in the promise of the APC for a new Nigeria. We are confident in the commitment of the President-elect to social justice, rule of law and economic posterity for all.” On the place and role of women in politics, she said: “The last straw however, was the failure of the PDP to respect the place of women in politics as a basis of an inclusive template of leadership. Like no other time in our collective struggle for equity and fair play have women suffered so much relegation in the political system in the country and especially in the state. “Yet we have all had to endure the patronising campaign adverts of the PDP’s self-proclaimed “generosity” towards women; the self-patting of its achievements of the number of women appointed into the President’s cabinet. True representation starts at the grassroots and builds up. Women are seeking true representation at all levels and most especially into elective positions thus doing away with the demeaning modes of lobbying that we women are subjected to. The APC has shown that it believes in ensuring that women are treated with respect and dignity and assisted to excel in the political arena as shown by the emergence of the Taraba State gubernatorial candidate. “We therefore have come to the sad realisation that the seeming marginalisation of women in the PDP is deeply embedded in the party system and leadership and all attempts to cause a change from within have been met with brick walls and blatant prejudices against women leadership. The choice was therefore clear – a constricted, backward vision of Kwara, which the opposition represents, or a bold step into the future that guarantees fairness, justice and hope. Thus, the move from the PDP into the APC was an easy decision for us considering our history with PDP and our vision for our future.”

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Insurance

Naira’s weakness may persist under Buhari – Analysts

Stock Watch

Berger Paints: Weak sales squeeze earnings

Money Line

Nigerian underwriters taking global step on Takaful

Interview

‘Nigeria’s gas needs $55bn medium term investments’

42-43

Business What's news

Malaysia, Indonesia dump N3.94bn palm oil at Lagos Port Malaysia and Indonesia have turned Nigeria to a dumping ground for their excess crude palm oil, New Telegraph has learnt.

p.22

Air transport: Operators seek zero-rating VAT Airline operators under the aegis of Airline Operators of Nigeria (AON) have called on the Federal Government to remove Value Added Tax (VAT) and other sundry charges that could further hamper their operations.

p.22

L-R: Executive Director, Corporate and Investment Banking, Stanbic IBTC, Victor Williams; Investment Officer, Africa, Netherlands Development Finance Company (FMO), Gerrit van Kampen; Chief Executive, Stanbic IBTC Bank, Yinka Sanni and Portfolio Analyst, Financial Institutions, Africa, FMO, Sander Verhulp, after the signing ceremony for a $90 million credit facility to Stanbic IBTC by FMO in Lagos.

India, Brazil others cut demand for Nigeria’s crude he demand for Nigeria’s crude by India, biggest buyer of country’s oil, Brazil, Indonesia and South Africa, has dipped by about one million barrels, forcing glut of the nation’s unplaced crude cargoes to heap above 75 per cent. The Platts cargo tracking data, which revealed this at the weekend, explained that

the weak buying from Asia for Nigerian and West African light sweet crudes over the past month has left a large overhang of March, April and May cargoes. Only 25 per cent of the Nigerian May programme had so far been placed, according to the Platts cargo tracking data, as the remaining 75 per cent is still left unplaced, struggling for demand. The Nigerian flagship, Qua Iboe, differential dropped from Dated Brent plus $1.80/barrel March 17 to Dated Brent plus $1.40/b April 8. India became the biggest consumer of Nigeria’s crude after the United States squeezed the oil of Africa’s biggest ex-

INFLATION RATE February 2015.........................8.4% January 2015...........................8.2% December 2014.........................8%

LENDING RATE InterBank Rate....................12.57% Prime Lending Rate...........17.93% Maximum Lending Rate...26.83%

ANXIETY

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Glut of unplaced Nigerian crude heaps above 75 % in three months

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

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Adeola Yusuf Energy Editor

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Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Adeola Yusuf

Finance Editor

Kunle Azeez

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Chuks Onuanyin Energy

Nnamdi Amadi Reporter

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Asst Production Editor

porter and economy out of its market in 2014. However, demand from Asian buyers, especially India, has been on the decrease for May cargoes and traders expect more Nigerian crude to land in Europe in coming months. The focus on Europe has been further enhanced by reduced interest from Nigeria’s other regular customers like

1m barrels Total barrels of Nigeria’s crude cut by four countries

Brazil, Indonesia and South Africa. West Africa (WAF) crude differentials have been falling in the past month as sellers tried to attract buying interest. But buyers are holding back in expectation of even lower prices. More specifically, in Nigeria, “values are definitely coming off,” a trader said. There are still March cargoes on the water and a significant chunk of the April programme is outstanding despite coming close to loading time. “Most of the available cargoes will float to Europe in order to minimise the pain,” the same trader said. CONTINUED ON PAGE 22

Rates Dashboard EXCHANGE RATE (BDC as at Apr. 10)

USD . . . . . . . . . . . . . . . . . . . . . . N207 Pounds . . . . . . . . . . . . . . . . . . . N300 Euro . . . . . . . . . . . . . . . . . . . . . . N230

l Foreign Reserves – $29.589bn as at 4/04/2015

Source: CBN

EXCHANGE RATE (Interbank as at Apr. 10)

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . . N301 Euro . . . . . . . . . . . . . . . . . . . . . . N214

Business | News

EXPORT TAX These countries have re-introduced export tax on crude palm oil Bayo Akomolafe

alaysia and Indonesia have turned Nigeria to a dumping ground for their excess crude palm oil, New Telegraph has learnt. Nigeria has been in short supply of the commodity in the last one decade. It was learnt that between April 8 and 13, 2015, three ships were jostling for space at Lagos Port Complex to discharge 29,250 metric tons of palm oil valued at N3,942,900,000 ($19,714,500). The commodity was shipped to Apapa Bulk Terminal of the port complex between April 8 and 12, 2015. This will be the first time the country will take delivery of large crude palm oil in a week. A ton of palm oil is sold for $674 in Malaysian, the second largest producer of the commodity after Indonesia. Already, MV Atlantic Alhambra and MV Sam Pride have arrived with 5,000 metric tons and 18,450 metric tons respectively, while MV Patriotic with 6,000 metric tons is expected today at the terminal. Meanwhile, Malaysia and Indonesia have resolved to reintroduce an export tax on crude palm

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Malaysia, Indonesia dump N3.94bn palm oil at Lagos Port oil as demand by buyers surge. Annual palm oil export from Malaysia, Indonesia and Thailand is valued at $50 billion in the global market. According to Agronomy, Malaysia had revealed that it would in April reintroduce an export tax on crude palm oil, at a rate of 4.5 per cent as export increased by 17 per cent,

“From the moment a Suezmax is loaded, the charterer has 8 to 10 days before deciding on diverting to the US, without an additional demurrage cost,” a WAF equity holder said. Meanwhile, traders said that the European market is more trading oriented rather than tender-based as in the East, giving the necessary flexibility for sellers to negotiate their outstanding cargoes while afloat. The current freight rate at World scale 72.50 is also boosting the floating storage strategy for companies. Moreover, others said that as long as the land storage is full, these cargoes have to be put on ships. A third trader said: “I’m extremely bearish and I think differentials will drag lower this week. Buyers are in control and, as they are seeing multiple offers for the same

According to the Director General of the ministry’s Energy Business Department, Mr. Witoon Kulchroenwirat, biodiesel consumption had risen to around 3.7 million litres a day from 2.2 million litres. He noted that Thailand’s total diesel demand stood at around 60 million litres a day (around 378,000

barrels per day) in March. However, Nigeria, the largest producer of oil palm in the world with a market share of 43 per cent in N1950/60s, has plummeted to zero percent since 1975 when it imported 1,000 metric tons. The country has imported 2,370,000 metric tons of palm oil valued at N313.97 billion

($1,569,888,000) in the last five years through the nation seaports. The commodity was shipped to the port between 2010 and 2014. Data obtained from the United States Department of Agriculture (USDA), revealed that in 2010, some 435,000 metric tons were ferried through the port.

L-R: Head, Agric Finance, Sterling Bank Plc, Mr. Ebenezer Boluwade; Deputy Director General, International Institute of Tropical Agriculture (IITA), Ibadan, Dr. Kenton Dashiell and Group Head, Agric Finance, Sterling Bank Plc, Mrs. Bukola Awosanya, at the 2015 Annual Conference of IITA in collaboration with the International Association of Research Scholars and Fellows.

Four countries reduce demand for Nigeria’s crude CONTINUED FROM PAGE 21

while Indonesia’s export climbed to 21 per cent. The move is to curb glut in the production of the commodity. Also, Thailand is contemplating to double the volume of palm oil blended into diesel fuel from mid-April in an attempt to soak up oversupply and shore up domestic palm oil prices.

grade, they are unlikely to get worried about missing their requirements.” Furthermore, refiners currently had good margins, traders added. The lack of May trading activity was also heard weighing on the market. The arrival of more WAF cargoes in Europe and the Mediterranean may also have an impact on other crude sources. “Azeri Light is partially affected by WAF crude, which is becoming more popular in the Mediterranean. If the price is right, more and more people will be looking at WAF instead of Azeri Light. Having said that, Azeri Light is a very good grade and all customers are happy to take it,” a Mediterranean crude trader said. “At the moment, (Nigerian grades) don’t seem to be making it, but they are moving in the right direction,” said one Nordic refiner. “We’re close to having them competitive to other local grades.”

Air transport: Operators seek zero-rating VAT PARADOX The Nigerian constitution says Value Added Tax (VAT) should not be paid on transportation Wole Shadare

irline operators under the aegis of Airline Operators of Nigeria (AON) have called on the Federal Government to remove Value Added Tax (VAT) and other sundry charges that could further hamper their operations. VAT forms part of costs borne by airlines in Nigeria. Chairman of AON, Capt Noggie Meggison, who spoke on behalf of the airlines, noted that considering the crucial role air transport plays in the economy of the nation, government should urgently take action by stopping the multi

taxation and also remove landing and packing charges for airlines’ operational bases. Consequently, he called for the speedy removal of VAT, lamenting that foreign airlines operating in and out of Nigeria are not paying the charges while Nigerian airlines do. Meggison noted that it is only Nigeria that has added VAT to charges in air transportation, stressing that other nations have excluded it from their transport sector. In Europe, EU’s exempts airline tickets from VAT while allowing airlines to deduct input VAT, which remains amongst the most distorting features in the EU’s tax and transport policy. The exemptions, which also include passenger travel by ship, dates back prior to the EU’s formation and continued as derogations to the EC’s original Sixth (VAT) Directive. There is no VAT on any aspect of air travel. It is not on airline tickets, nor on purchase, neither of aircraft, nor on their servicing, nor on their fuel. It is also neither on air

traffic control nor on baggage handling or aircraft meals. Everything to do with air travel after passport control is zerorated The EU was supposed to be transitional, but new member states demanded equal treatment and, as the Commission acknowledges in its consultation document, they have now acquired a life of their own. Meggison stated that lack of VAT on airline, cruise and ferry tickets in Europe and other places is of considerable benefit to consumers, making the trip 15 to 20 per cent cheaper than it otherwise would have been. The benefit, according to him, is directly proportional to the cost of the ticket, so individuals who fly frequently on long distances can save hundreds of euros on each journey. “In this sense, the benefit is also proportional to capacity to pay; those who can afford to travel more frequently, or over long distances or in business class or first class, or take a cruise holiday, will benefit more,” he added.

INTERNATIONAL WEEKLY

In collaboration with

Sanctity of Truth

The Global Game Sees Anti-Global Backlash By BINYAMIN APPELBAUM

Recently, a 21-year-old soccer player named Harry Kane made a spectacular debut for England’s national team. He scored against Lithuania just 79 seconds after entering the game, then wheeled away in celebration as a crowd of about 80,000 countrymen roared approval. Mr. Kane’s unexpected emergence this season as the leading scorer for his club team, Tottenham Hotspur, has captivated fans — not least because he was born and raised a few kilometers from Tottenham’s north London stadium. It has also made him a beacon of an anti-globalization groundswell that aims to restrict the participation of limit the number of foreign players in England’s soccer leagues. “How many other Harry Kanes are there in the academies of English football who cannot get a first-team game?” Greg Dyke, chairman of English soccer’s governing body, the Football Association, wrote in an opinion article published by The Guardian. “We are simply not giving young domestic talent sufficient opportunities at the highest level of English football.” Mr. Dyke later announced a proposal to limit foreign players. England’s Premier League, he declared, was headed toward being “owned by foreigners, managed by foreigners and played by foreigners.” Economists have long held up soccer — which has become one of the most globalized markets for skilled labor — as an example of the benefits of open borders. The Premier League draws capital and labor from around the world, and produces a spectacle consumed around the world. That’s why Tottenham’s jerseys feature the logo of AIA, an Asian-based insurance

Continued on Page 26

PAUL ELLIS/AGENCE FRANCE-PRESSE — GETTY IMAGES

Harry Kane’s success in the Premier League has helped a movement to limit foreign players.

PHOTOGRAPHS BY ANDREW TESTA FOR THE NEW YORK TIMES

Bulgaria’s New Curtain Razor Wire Along the Turkish Border, This Time to Keep People Out The Bulgarian government has begun building a fence to help slow the influx of refugees into overcrowded centers like one in Harmanli.

By RICK LYMAN

LESOVO, Bulgaria — Less than two decades after the painstaking removal of a border fence designed to keep people in, Bulgarian authorities are just as painstakingly building a new fence along the rugged Turkish border, this time to keep people out. Faced with a surge of refugees from the Middle East and North Africa — and the risk that they include jihadis intent on terrorist attacks — Europe is bolstering its defenses on many fronts, including this formerly Communist country, which little more than a quarter-century ago was more concerned with stanching the outbound flow of its own citizens to freedom. For the past 16 months, Bulgaria has been carrying out a defensive plan that includes more border officers, new surveillance equipment and the first 32-kilometer section of its border fence, which was finished in September. The hardening of the Bulgaria-Turkey border is a symbol of the agitation across the continent about the economic, social and political ramifications of the surge in immigration. With more refugees likely to be on the move as warmer weather arrives, nations along Europe’s southern tier are increasing border staffing, adding technical barriers, expanding refugee facilities and building walls. More than 200,000 refugees are known to have crossed Europe’s borders last

INTELLIGENCE

WORLD TRENDS

Helping the deaf in Pakistan. PAGE 24

Cold War flashbacks worry Norway. PAGE 28

year. The numbers for the first two months of this year are up sharply compared with that period last year. Anti-immigrant sentiment is increasing in Britain, France, Hungary, the Czech Republic and elsewhere across the continent. Parties espousing ethnic nationalism are growing. “The rise of the right wing in Europe is a reaction to this refugee flow,” said Boris B. Cheshirkov, chief spokesman in Bulgaria for the United Nations High Commissioner for Refugees. And with much of Europe still struggling to recover from the 2008 financial crisis, the higher costs of caring for this flood of refugees — especially in countries

MONEY & BUSINESS

Bank crisis leaves scars on Cyprus. PAGE 29

like Bulgaria, the poorest member of the European Union — are straining national budgets. At the same time, episodes like the January attack on the Paris offices of the satirical newspaper Charlie Hebdo are raising worries that both homegrown jihadists and foreign fighters will arrive in this refugee flood. “I have seen such fighters here with my own eyes,” said Slavcho Velkov, a Bulgarian security expert. “When I asked them where they were going, they said, ‘We are going to heaven.’ ” To some degree, efforts like the new

Continued on Page 26

ARTS & DESIGN

Returning antiquities put on hold? PAGE 34

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, APRIL 13, 2015

O P I N I O N & C O M M E N TA RY When Muhammadu Buhari last became head of state in Nigeria, it was via a military coup in 1983, when he launched a nasty campaign against “indiscipline” and corruption in his vast African nation that earned him a reputation for brutality and disdain for human rights. Hundreds of politicians and businessmen were convicted by military courts, and minor offenses — like cheating on exams — were enough to send Nigerians to jail. Mr. Buhari was himself overthrown 20 months later. Yet now, at age 72, he has returned to rule Nigeria — and, he vows, to continue the war on corruption. The difference is that he has returned

ED I T O R I A L S O F T H E T I M ES

The Giant of Africa Votes through a democratic election. It’s a huge difference. The general election in Nigeria on March 28 was the most competitive ever held in Africa’s most populous country, and if the defeated president, Goodluck Jonathan, peacefully hands power to Mr. Buhari on May 29, it will be the first handover between civilians of different political parties since independence. Given Mr.

Jonathan’s gracious concession after his crushing defeat, there is no reason to doubt that this will happen, and every reason to hope that other African states will follow the example of the “giant of Africa.” Mr. Buhari’s victory was in part due to selective public memory of his earlier rule. To a majority of Nigerian voters, the trim and austere former general

increasingly appeared to be the one leader who could stanch the massive loss of wealth to what the World Bank called a “deeply embedded culture of corruption,” and who could rebuild the army into a force capable of taking on the militant Islamist group Boko Haram, which has spread terror and death for almost six years now through northeastern Nigeria. The outgoing govern-

ment had claimed some success against Boko Haram, but that was achieved only by hiring South African mercenaries. The president-elect has made clear that he is aware of the challenges before him. More important, the Nigerian electorate, which gave him and his All Progressives Congress party 55 percent of its vote across geographic, religious and tribal lines, has made clear that it is thoroughly sick of corruption and Boko Haram. Mr. Buhari promises, this time, to abide by the law. Should he be tempted to slide back into his old authoritarian ways, there is another election just four years down the road.

INTELLIGENCE/BINA SHAH

MAUREEN DOWD

A Language for Pakistan’s Deaf

Good Riddance to Agent

K arachi, Pakistan With one national language, Urdu, four provincial tongues (Sindhi, Punjabi, Pashto and Balochi), and nearly 300 regional dialects, Pakistan’s linguistic diversity is like a beautiful carpet, interwoven with threads ancient and young. The regional languages developed over thousands of years, while Urdu came from northwestern India in the 12th century. Then, in 1947, English was made an official language as a legacy of British rule in India. Now a small group of educators of the deaf intends to add one more language — this one not spoken. It is called Pakistan Sign Language, and its creators just may succeed in spreading its use across the country. Schools for the deaf have existed in Pakistan since the 1980s; one of the largest in Karachi is the Absa School and College for the Deaf, where initial research was conducted to develop Pakistan Sign Language, or P.S.L., as it is known here. A Pakistan Association of the Deaf, with chapters in many cities and towns, was formed in 1987, when deaf people in Pakistan were not just misunderstood; often they were shunned by people who considered them mentally handicapped and unsuited for normal life. In the same decade, Richard Geary Horwitz, an American, and his wife, Heidi, from the Philippines, moved to Pakistan from India and added a new diBina Shah is the author of several books of fiction, including, most recently, “A Season for Martyrs.” Send comments to intelligence@ nytimes.com.

mension to deaf education. They started a program called Deaf Reach in a classroom with 15 children from Karachi’s slums. Today, Pakistan’s Deaf Reach schools educate nearly 1,000 students, and additional foundation programs offer vocational and technical training, parent training and teacher education. It is, of course, not enough. There are an estimated 1.25 million deaf children in Pakistan, and Deaf Reach schools educate a small fraction of them. Still, the project is considered a success when measured against Pakistan’s bleak educational landscape. It is, after all, a nonprofit network with its own curriculum that delivers high-quality education to a specialized community. Pakistani companies and foreign aid organizations have enthusiastically donated money, and U.S.A.I.D.

The web and other tools added as aids for the deaf. donated $250,000 last year to help build the Deaf Reach school in Rashidabad. In the Deaf Reach schools, an emotional and social revolution is on view every day. Students are treated not as “special,” but as normal. One key to their success is the invention of Pakistan Sign Language. Another is the use of digital media. A common Indo-Pakistan sign language was in use across the subcontinent long before the 1980s, but many words and con-

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cepts in Urdu and other regional languages had no place in it. Pakistan Sign Language grew out of this need, but by the late 1990s the books and guides developed by Absa were deemed outdated and went out of print. So the family education foundation worked with deaf instructors in Punjab and Sindh, and with Rubina Tayyab, the head teacher at the Absa School, to develop a new online lexicon that now contains 5,000 words and phrases. On its website, a new video each day shows men, women, girls and boys signing a phrase with its meaning repeated in English and Urdu. Making technology central is typical of the Deaf Reach system. The online tools are accompanied by a book, a CD and a phone app. Computers and televisions are prominent in classrooms. The P.S.L. tools imprint three languages — Urdu, English and P.S.L. — on the children’s brains at the same time. They also enable relatives and others to learn P.S.L. Ten thousand copies of the organization’s dictionary and DVDs have been distributed across Pakistan. Next, the foundation will send “deaf leaders” to 25 cities to meet with their deaf communities and provide materials for smaller villages. By distributing 18,000 P.S.L. books and 7,000 DVD sets, the organization hopes this first phase of its project will affect 150,000 people. In a country like Pakistan, where a walk down any street reveals a modern-day Tower of Babel, what does it mean to give an entire community its own language? If “a loss of language is a loss of culture,” as Aaron Awasen, the foundation officer in daily charge of the P.S.L. project, says, then the gain of a language is a gain in culture. So empowering the deaf can only strengthen Pakistan’s social fabric; the deaf community will be proud to take its rightful position within the constellation of diversity that is one of Pakistan’s greatest assets.

Washington The co-creator of “Homeland” on Showtime revealed recently that when the new season starts, Claire Danes’s Carrie Mathison will no longer work at the C.I.A. Her real-life counterparts can’t wait for her to clean out her desk. The C.I.A. sisterhood is fed up with the flock of fictional C.I.A. women in movies and on TV who guzzle alcohol as they bed hop and drone drop. “The problem is that they portray most women in such a one-dimensional way; whatever the character flaw is, that’s all they are,” said Gina Bennett, who has been an analyst in the Counterterrorism Center over the course of 25 years and who first began sounding the alarm about Osama bin Laden back in 1993. She was sitting in a room decorated with photos of a memorial for the seven C.I.A. officers — including Bennett’s friend Jennifer Matthews — who were blown up in 2009 by a Jordanian double agent in Khost, Afghanistan. I talked to several current and former women at the C.I.A., which wants to show a stable side missing from portrayals like the one in the new NBC drama “State of Affairs.” In the premiere, Katherine Heigl’s C.I.A. analyst gets wasted on shots, picks up a stranger and upbraids her shrink for being “judge-y” — all before briefing the woman president. “Let’s not kid ourselves,” said a retired covert officer named Meredith, one of the first women to spy in hot spots around the globe. “For me, working in the Middle East, there’s a lot of attraction for Middle Eastern men for Western women. I don’t mean necessarily sexually, although they may be thinking that. But curiosity, if nothing else. And we certainly have played that.” With sex, she said, “you need to remove that off the table very quickly and clearly. ” Bennett said that women are good puzzle solvers. “Women don’t think more intuitively than men, but we tend to trust our own gut less,” she said. Their struggle to juggle personal and professional can get intense. “I briefed Condoleezza

Rice while in labor,” Bennett recalled. “I’d tell her about the global jihad and then I would turn away and breathe.” For Bennett, September 11 “lasted 10 years.” Now, tracking the virulent march of the Islamic State, she said, “it’s hard to turn around and then care, honestly, about some of the minor things that are everything in your teenager’s mind. “I deal with people who are trying to kill lots of people in horrendous, painful ways. So I have a wall; it’s really tall.” Carrie Mathison is so strung out she contemplates drowning her baby daughter. But Kali Caldwell, 34, said that when she was in the counterterrorism unit, looking at graphic images of children being killed, she would decompress on the way home by calling her mom and stopping to shop. There has been progress made since the macho days when women were labeled “a bad investment” because they could get pregnant. There’s a day care center at Langley now, and flex time. “The truth is, when a man takes an overseas assignment and leaves his family, including his children, it’s seen as more normal than when a woman does that same thing,” Caldwell said. Matthews was excoriated by her uncle, who had done covert work for the agency, for leaving her three young kids in Virginia with her husband to be chief of the C.I.A. base in Khost. It is a sore point for the Band of Sisters, as the women who hunted Osama were called, that in “Zero Dark Thirty,” Matthews’s character acted giddy. Bennett said the Band of Sisters had a favorite crime fighter: Elastigirl from “The Incredibles.” When the topic of settling down comes up, Elastigirl exclaims: “I’m at the top of my game. I’m right up there with the big dogs. Girls, c’mon. Leave the saving the world to men? I don’t think so.” “The entire concept for her was flexibility; she became a mom and a superhero at the same time,” Bennett said. “Just think of us as a work force of Elastigirls.”

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Carmen Aristegui led an investigative team of 17 reporters before her radio station fired her last month. Top, supporters of Ms. Aristegui protesting her dismissal at MVS radio.

In Mexico, Reporters Feel Under Siege By ELISABETH MALKIN

MEXICO CITY — When Carmen Aristegui, Mexico’s most famous radio personality, was abruptly fired last month, nobody expected her to go quietly. But anger over her dismissal has been rising steadily, and it has turned up the heat in this country’s charged political atmosphere. Conspiracy theories have abounded since a dispute between Ms. Aristegui and her employer, MVS Communications, ended in her departure. She has become an emblem of press freedom under siege, and social media has lighted up with demands for her return to the airwaves. Even her critics, who point to a lack of reportorial rigor in many of her stories, argue that her dismissal removed one of the few broadcast journalists in Mexico who openly challenge authority. Many journalists contend that Ms. Aristegui’s case is part of a

broader attempt by the government to check aggressive news coverage. “Today we have radio that is less plural than it was” before Ms. Aristegui’s firing, said Raúl Trejo, a media expert at the National Autonomous University of Mexico. “I have been very critical. But I think her voice is very healthy for Mexican society.” Ms. Aristegui led a team of 17 reporters who uncovered the existence of a mansion in Mexico City’s most exclusive neighborhood, custom-built for President Enrique Peña Nieto’s wife, Angélica Rivera, by a company that had won hundreds of millions of dollars in government contracts. The Aristegui team’s report helped strengthen anticorruption legislation working its way through Congress. It also put Mr. Peña Nieto’s government further on the defensive; it was already reeling in the face of public anger

PHOTOGRAPHS BY EDGARD GARRIDO/REUTERS

over the disappearance of 43 rural college students in September, allegedly at the hands of a drug gang and a corrupt mayor. Analysts say Mr. Peña Nieto’s government has been using government advertising and its authority over broadcast concessions to exert more control over the media. A report by the World Association of Newspapers and News Publishers concluded that this kind of “soft censorship” was “an integral part of the country’s complicated media landscape.” Outside the capital, the situation is worse. Reporters face reprisals from organized crime and local officials. A report released by Article 19, a media watchdog group based in London, found that in Mexico, a reporter is harassed, threatened or attacked somewhere almost every day. The frequency has risen under

Mr. Peña Nieto’s government, the group said, and almost half of the attacks have been traced to government officials. Ms. Aristegui, in a conversation with foreign reporters, said that if privileged journalists like those on her team could be attacked, “imagine the level of vulnerability for other journalists in Mexico.” MVS says that its disagreement with Ms. Aristegui is an internal issue. The cause the company cited was her involvement, along with several of the reporters on the investigative team, in a new website called Méxicoleaks, that was designed to encourage whistle-blowers to come forward and guaranteed their anonymity. MVS objected to the use of its name on Méxicoleaks without the company’s permission and fired the two lead investigative reporters and issued a list of editorial guidelines. One of the

guidelines makes all news coverage subject to periodic evaluations by “specialized companies” and gives MVS the right to insert content. After Ms. Aristegui refused to accept the guidelines, the company fired her and her investigative team. The guidelines would have created a “newscast that wouldn’t have had the editorial freedom that it has had up to now,” she said. That freedom was not absolute. Ms. Aristegui published the report about the Mexico City mansion on her own website, instead of broadcasting it on her morning program. She said that in the period leading up to the report, she had met with MVS’s chairman, Joaquín Vargas, who told her that broadcasting the report on the radio would expose the company to too much risk. Mr. Vargas refused to comment on whether such a conversation took place.

After Shift in Nigeria, Status Quo Faces Tests Elsewhere By NORIMITSU ONISHI

JOHANNESBURG — The historic election results last month in Nigeria, Africa’s most populous nation and biggest economy, drew worldwide praise and stirred hopes of a democratic domino effect on the continent. If an incumbent president could step down willingly, and power could be transferred peacefully from one party to another in Nigeria — with its history of military coups and deadly ethnic and religious rivalries, not to mention a raging Islamist insurgency — why wouldn’t the same happen elsewhere? In the last two decades, incumbents have lost elections and peacefully handed over power to the opposition in about 10 other African countries, mostly smaller nations like Senegal, Benin, Zambia and Malawi. But nowhere were the stakes as high as in Nigeria, where vast oil wealth has long intensified political battles and where the loss of power, in this case by President Goodluck Jonathan and his powerful Peoples Democratic Party, has meant a sudden stop

to the flow of riches for than mourning” beone group. cause it had “estab“Given Nigeria’s size lished a legacy of demand the direct influence ocratic freedom” — it exercises on neighMr. Kagame indicated he would be open to boring states, it does staying in power. make far more respectSome analysts said able and acceptable in that Nigeria’s elecelite circles the idea of a change,” said Steven tion outcome could Paul Kagame Friedman of the Unibe regarded as a reversity of Johannesshuffling of historical power brokers. burg. “We have to see what hapThe newly elected president, pens, but from that perspective, Muhammadu Buhari, is a former the way in which it’s happened general who once served as Nigehas been significant.” “But is it going to persuade the ria’s military ruler after coming generals in Zimbabwe to stop doto power in a coup. The first presing what they’re doing?” he addident of Nigeria after the return to democracy in 1999 was also a ed. “Absolutely not.” retired general and former miliOn the other side of the continent, supporters of President tary ruler of the country, OlusePaul Kagame of Rwanda have gun Obasanjo. started a media campaign clamMr. Buhari’s political party, the All Progressives Congress, oring for constitutional change was established after three oppothat would permit him to run for a third term in 2017. Similar efforts sition parties formed an alliance are underway in the Democratic in 2013. Mr. Jonathan’s Peoples Republic of Congo and Burundi. Democratic Party had held powTwo days after Mr. Jonathan er since 1999. conceded defeat in Nigeria — tellSome see Mr. Jonathan’s quick concession — and the possible ing his long-dominant party that emergence in Nigeria of a real it “should be celebrating rather

two-party system — as a sign of political maturity in the continent. They also see it as a challenge to other African nations — including the other African giant, South Africa — that are effectively one-party democracies. The African National Congress has governed South Africa since the end of apartheid in 1994, though it has lost regional elections. The A.N.C.’s share of support has declined in every national election. Alfredo Tjiurimo Hengari of the South African Institute of International Affairs said that even with its recent transfer of power, Nigeria lacks the strong civil society and domestic democratic institutions that hold South Africa’s government more accountable. Few doubt that the A.N.C. will peacefully accept an eventual loss of power nationally, just as it has in local elections, he said. “If Nigeria provides the big bang, there have been smaller shifts in South Africa that have socialized the A.N.C. to the possibility of losing power at some point,” Mr. Hengari said. Voters have backed the domi-

nant governing parties in other one-party democracies, including Namibia and Botswana, in recent elections. These parties — not to mention more authoritarian governments, like Zimbabwe’s — are unlikely to feel threatened by the loss of Nigeria’s Peoples Democratic Party, Mr. Hengari said. Though Nigeria’s party governed for 16 years, it lacked the

Watching the rest of Africa for the effects of a leader’s defeat. legitimacy of other dominant parties, like the A.N.C., which played central roles in liberating their nations from colonial rule. “I don’t think for South Africa the lessons from Nigeria are of a democratic nature,” Mr. Hengari said. “It’s one where South Africa says, ‘Well, it’s good to see Nigeria stabilizing democratically.’ ”

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Global Game Sees Anti-Global Backlash

Bulgaria hopes to be added to the Schengen group of nations that do not require visas or passports for travel between them. Remains of an Iron Curtain-era fence.

Continued from Page 23

ANDREW TESTA FOR THE NEW YORK TIMES

New Curtain Seals Off Bulgaria Continued from Page 23 fence simply cut off one route into Europe, sending smugglers to find another. “In 2012, heightened security was implemented along the Greek border with Turkey, including the building of a fence,” said Gil Arias Fernández of Frontex, which coordinates border protection throughout the European Union. The result, he added, was to turn the flow toward the Bulgarian border. In response, Bulga ria i n s t it u t e d it s ow n “containment plan” in 2013, including the continuing construction of the fence, which will stretch 160 kilometers.

garia and Greece, the number of those entering is up 107 percent over last year — with the raw number of those crossing, 5,275, approaching the 7,834 who used the Italian sea route. “We are expecting a surge of refugees in April and May for certain,” said Jordan Malidov, director of a Bulgarian refugee center in the town of Harmanli, 35 kilometers north of the Turkish border. Warmer weather emboldens those trying risky sea crossings or attempting to walk across remote, green borders. “And it is common when there is war for the numbers to increase,” he said. Back in the late 1990s, when Nikolay Radulov was a deputy min-

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Officials expect a surge of refugees to attempt risky sea and land crossings from Turkey as the weather warms. The impact was significant. The number of known illegal crossings fell to about 4,000 in 2014 from 11,000 in 2013. The thousands who failed to cross into Bulgaria were offset by larger numbers crossing from Turkey by sea to the nearby Greek islands, Mr. Fernández said. More than 170,000 refugees — most from the Middle East, Africa and Afghanistan — entered Europe on the sea route to southern Italy in 2014. In the first two months of this year, the number was up 42 percent over that period last year. Here in the eastern Mediterranean, where Frontex measures land and sea crossings into Bul-

ister of the interior, part of his job was overseeing the dismantling of the old wall, a Cold War relic that had been the southern edge of the Iron Curtain. It was actually two fences, with a minefield between them, designed to prevent residents of Communist nations from sneaking into the West. The fence was dismantled piece by piece, he said, “and we very carefully removed each of the mines, one by one.” Mr. Radulov, now a professor at New Bulgarian University, is watching with some disbelief as the new barrier rises. “The theory then was that it was antidemocratic to have these kind of devices along the border,” he said. “And of course, we were

Defending against refugees, along an Iron Curtain border. good democrats.” The new fence, on the Bulgarian side, consists of chicken wire in a steel frame, while a menacing cascade of razor wire climbs its Turkish face. Drawing on money from the European Union and other sources, the Bulgarian government says it will begin this month to extend the wall until it covers the entire land border with Turkey not already blocked by the Rezovo River. Officials hope to demonstrate that the country deserves to be admitted into the Schengen group of nations whose members do not require visas or passports to travel between them. Bulgaria was admitted to the European Union in 2007, but has been denied Schengen approval, partly because of border issues. Although the Bulgarian government contends that the wall will be finished this summer, few security experts believe this is possible. In the meantime, refugees will continue to find ways across the border at more remote and dangerous locations. About 4,000 refugees are crowding into centers like the one in Harmanli, which holds 1,600. Tahani Halad Hamza, 21, was studying biology in Mosul, Iraq, when the fighting erupted there. Her father was lost in the conflict, but she, her husband, her mother and two brothers made it into Turkey and as far as the Bulgarian border, where they were taken into custody about six months ago. Like others, they said they hoped to be granted official refugee status by the Bulgarian government, which would allow them to travel through Europe. Her family hopes to get to Germany, she said, or perhaps Britain. “The only difference between Bulgaria and Syria is the conflict,” she said. “There is no work in either place.” Her mother leaned forward with wide eyes, “Syria,” she said. “Boom, boom, boom!”

company that doesn’t even have offices in England. And economists say that’s good for the players and their countries — and for England. But the recruitment of skilled foreigners to take jobs once held by English players feeds into deep anxieties about the inflow of immigrants in a country that has never seen itself as a melting pot. A recent Ipsos MORI poll found that 45 percent of Britons regard immigration as the top issue facing the country ahead of national elections in May. The argument is straightforward. There are only 500 player jobs in the Premier League — 20 teams, each with 25 players. Two decades ago, Englishmen held 69 percent of those jobs. Last season, they held 37 percent, according to CIES Football Observatory. By contrast, 61 percent of players in the Spanish league were Spanish; 59 percent of players in the German league were German. Mr. Dyke and his supporters say England’s national team is struggling because fewer players have the chance to learn their trade at the highest levels. Tottenham loaned Mr. Kane to four lesser teams between 2011 and 2013 while employing a series of expensive imports in the job he now holds. Mr. Dyke says other talented English players may similarly be languishing in reserve. Mr. Dyke has convinced the government to make it harder for foreign players to get work permits. He also wants to persuade teams to reserve more roster slots for homegrown players. The effort is a version of what economists call “import substitution” — raising barriers at the border to encourage the development of domestic industry. It is a strategy developing nations have used with success — including, once upon a time, Britain and the United States, and, more recently, China. But England is not developing a new industry. Soccer was invented there. And there are some important reasons to doubt the argument that foreign players are bad for the English game. The league itself is hugely profitable, and much of that money arrives in England from other countries. Rich foreigners buy teams. Companies buy sponsorships. Fans buy jerseys. “The Premier League has become the most successful product in sporting history,” said Simon Kuper, co-author of “Soccernomics,” a 2014 book that uses data to examine the game’s development. And the English league has become the world’s most popular, outstripping leagues in Spain and Germany and Italy, in large part because it has become the most global. The league’s success means that the remaining English players earn much more than their predecessors. The aver-

age salary this season is 2.3 million pounds (about $3.4 million), according to a Daily Mail survey. In 1992-93, the first season of the current league structure, the average was just 140,000 pounds (about $208,000), after adjusting for inflation. Mr. Kane and his peers, in other words, are beneficiaries of globalization. The fans are beneficiaries, too. They get to watch better players and better games, and their hometown teams are among the giants of global soccer. Manchester citizens may take pride in the success of Manchester United or Manchester City, even if few of the teams’ players in recent years have been English. The globalization of soccer began to accelerate in 1995 when a Belgian player, JeanMarc Bosman, convinced the European Court of Justice that European Union nations could not impose limits on the employment of European Union soccer players. The effect was much broader. The year before the ruling, just 6 percent of the players in top European leagues came from outside Europe. Four years later, the share had climbed to 28 percent, according to a 2014 analysis by Chrysovalantis Vasilakis, an economist at the

Soccer chief wants England’s players to have more chances. Catholic University of Louvain in Belgium. Mr. Vasilakis and other economists see evidence that globalization has increased the competitive balance of international competitions like the World Cup, as players from smaller and less affluent countries, such as Ghana and Uruguay, have more opportunities at the highest levels. That suggests England and other traditional powers are losing ground, in relative terms, because they now face stiffer competition. But it’s hard to see the evidence in the performance of England’s national team. During the Premier League era, the team has held a relatively steady position in FIFA’s ranking of national teams, with an average ranking of 10th. England’s performance at the World Cup has also remained relatively constant, although fans inevitably pine for a repeat of 1966, when England won the Cup. Charles Kenny at the Center for Global Development said English players also benefit from the improved competition in the Premier League. “Does England really want to stay ahead in the global game by keeping other national teams down?” said Mr. Kenny, who is English. “That seems an awfully colonial attitude.”

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Aryeh Shimron said he has evidence that may tie a burial chamber to the family of Jesus. A burial box with the inscription ‘‘Judah son of Jesus.’’

Finding Fuels Debate Over Jesus’ Burial By ISABEL KERSHNER

JERUSALEM — Hailed by some as the most significant of all Christian relics but dismissed by skeptics amid accusations of forgery, misinterpretation and reckless speculation, two ancient artifacts found here have set off a fierce archaeological and theological debate in recent decades. The quarrel is over inscriptions that led some to suggest Jesus of Nazareth was married and fathered a child, and the Resurrection never happened. Now, a Jerusalem-based geologist believes he has found a common bond between the antiquities that strengthens the case for their authenticity. The first artifact is an ossuary, or burial box for bones, bearing the Aramaic inscription “James son of Joseph brother of Jesus,” that the Israeli collector who owns it says he bought from an antiquities dealer in the 1970s. About a decade ago, the government Israel Antiquities Authority declared the “brother of Jesus” part of the inscription a forgery and pressed charges against the collector; a Jerusalem court ruled in 2012 that the state had failed to prove its case. The second artifact is a tomb unearthed in East Jerusalem in

1980 and featured in a 2007 documentary movie, “The Lost Tomb of Jesus.” The film was produced by James Cameron (“Titanic”) and written by Simcha Jacobovici, an Israeli-born filmmaker in Toronto. The burial chamber, which became known as the Talpiot Tomb, contained 10 ossuaries, some with inscriptions that have been interpreted as “Jesus son of Joseph,” “Mary” and other names associated with the New Testament. The names led Mr. Jacobovici and others to argue that this was probably the tomb of the family of Jesus of Nazareth, a claim rejected by experts, who said that such names were common at that time. Critics like Amos Kloner, the Jerusalem district archaeologist at the time, essentially accused Mr. Jacobovici of jumping to conclusions to promote his movie. Mr. Jacobovici says if the James ossuary, whose provenance is unclear, is found to have originated in the Talpiot Tomb, it would bolster the chances it belonged to the family of Jesus. Now, the geologist Aryeh Shimron is convinced he has made a connection by identifying a geochemical match between elements found in samples collect-

PHOTOGRAPHS BY RINA CASTELNUOVO FOR THE NEW YORK TIMES

ed from the Talpiot Tomb ossuaries and the James ossuary. When the Talpiot ossuaries were discovered, they were covered by Rendzina soil, which is characteristic of the hills of East Jerusalem and was apt to impose a unique geochemical signature on the ossuaries buried beneath it. “I think I’ve got really pow-

Scientific evidence of antiquities’ ties to Christ. erful, virtually unequivocal evidence that the James ossuary spent most of its lifetime, or death time, in the Talpiot Tomb,” said Dr. Shimron, 79, who was a researcher of the Geological Survey of Israel. Dr. Shimron based his research on the theory that an earthquake in A.D. 363 flooded the Talpiot Tomb with soil and

One Size Does Not Fit All With the click of a button, the Internet can strip and standardize a shopping experience. But some entrepreneurs are chasing consumers who want something a bit more LENS personal. The Chinese cellphone startup Smartisan has a corporate identity that can feel anything but corporate. The executive Luo Yonghao has a reputation as an outspoken freethinker, and his friendly speeches and social media presence (10.6 million followers on Weibo) have helped establish a fan base of younger Chinese looking for phones with personality. “In the old days, everyone wanted branded products For comments, write to nyvtweekly@nytimes.com.

Personal touches while shopping from a distance. and luxury goods,” Ruby Lu, a partner at the venture capital firm DCM, told The Times. But younger people now “want a product that defines them, that speaks to them. They want to reject the mainstream definition of who they are.” There are still plenty of people following the pack. At the British retailer Roman Originals, a single dress accounted for 60 percent of business a day after it created a worldwide social-media debate about its colors. (The dress was blue and black, although many saw it as white and gold online.) But popularity can dissuade those looking for something

they see as more authentic. The online marketplace Etsy caters to buyers looking for homemade or vintage products, goods that have a personal touch woven in. But there is now tension between successful sellers who rely on outside help to keep up with demand and loyalists who are selective in what constitutes homemade. “Handmade businesses aren’t infinitely scalable, just by the definition of the term,” said Grace Dobush, a longtime Etsy seller until she closed her shop in November. “As Etsy has gotten bigger, it’s gotten more like eBay.” For her Etsy shop, Kyoko Bowskill works with independent artists to design patterns for Japanese furoshiki wrapping cloth, then hands the manufacturing over to a family business outside Tokyo that specializes in traditional dyeing methods. She said she favored having Etsy sellers increase their production

mud, dislodging its entrance stone and, unusually, covering the chalk ossuaries. “The soil created a kind of vacuum,” he said. “The composition of the tomb was simply frozen in time.” For the last seven years, Dr. Shimron has been studying the chemistry of samples from chalk crust scraped from the underside of the Talpiot ossuaries and, more recently, from the James ossuary. He has also studied samples of soil and rubble from inside the ossuaries. In addition, he has examined samples from ossuaries from about 15 other tombs. Mr. Jacobovici, who has been documenting the research for another movie, said “the production” financed the lab work. The Israel Antiquities Authority provided access to most of the ossuaries and carried out the major part of the sampling under the direction of Dr. Shimron. A spokeswoman for the authority said that it had provided some technical assistance for Mr. Jacobovici’s movie but that it was “not part of the loop.”

Dr. Shimron was looking for unusual amounts of elements derived from Rendzina soil, like silicon, aluminum and magnesium, as well as for trace elements, including phosphorus and chromium — components of the type of soil he says filled the Talpiot Tomb during the earthquake. The findings, he says, place the James ossuary in the same group as the Talpiot Tomb ossuaries. Dr. Shimron’s findings seem likely to reawaken the controversies of the past. There is the notion that burial remains, including bone matter, of Jesus would suggest that there could have been no bodily resurrection. Moreover, speculation that one of the bone boxes found in Talpiot may have belonged to Mary Magdalene, while another bore the inscription “Judah son of Jesus,” has only added to the general contentiousness of the finds. Dr. Shimron said he expected criticism, including from people who find it anathema that a scientist, as he put it, should be “playing around with Jesus and Mary’s bones.”

office supplies. But they research the production processes and business models of companies whose goods they sell, to consider their ethics. They share companies’ stories, “Beyond the Label,” with shoppers on the website. Ms. Bédat told The Times that in the age of globalization, buyers are becoming more aware of the costs, ethically and environmentally, of consumerism. When buying items from LIZ GRAUMAN/THE NEW YORK TIMES authentic brands with an ethical framework, she said, to meet their fan bases’ demand. customers are “buying into a set “Etsy shouldn’t be about one of values.” person crafting goods all by herAnd with transparency beself with no sleep,” Ms. Bowskill told The Times. “We’re buildhind the products’ narratives comes an engaged — and loyal ing a viable business, but that — following. doesn’t mean we’re mass-manu“It’s storytelling,” Ms. Bédat facturing.” said. “It’s people getting to feel In New York, Maxine Bédat that connection and wanting to and Soraya Darabi run the be part of it.” online retailer Zady, selling DEBORAH STRANGE clothing, household items and

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THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, APRIL 13, 2015

WORLD TRENDS

Norway Goes Back To Cold War Mode

BETHLEHEM JOURNAL

Constraints On A Marathon Route

By ANDREW HIGGINS

Putin’s military is more visible along ‘the door to NATO.’

By DIAA HADID

BETHLEHEM, West Bank — The runners looped four times through this city, following a route that took them from the Church of the Nativity, considered Christ’s birthplace, down Bethlehem’s main avenue and alongside Israel’s separation barrier, scrawled with graffiti and blackened from hurled projectiles. The Palestine Marathon, held in late March, was a hemmed-in affair, much like the city where it was run. “In Bethlehem, there’s not a continuous 42 kilometers,” said Marwa Younis, 32. “You have to run back and forth.” But that is the idea behind the Right to Movement: Palestine Marathon. What better way to draw attention to the constraints Palestinians say they face in their daily lives? “We want to send a message that we don’t have the right to movement — we are occupied and have the apartheid wall,” an organizer, Diala Isid, said of the eight-meter-high separation barrier, which surrounds the city on three sides. Isabel Kershner contributed reporting from Jerusalem.

URIEL SINAI FOR THE NEW YORK TIMES

Israel’s eight-meter-high separation barrier was part of the scenery of the Palestine Marathon in Bethlehem. About 3,100 people signed up for the race, which included 10-kilometer and 21-kilometer options alongside the full 42-kilometer course. Most were Palestinians; the foreigners were from the United States, Britain, France and Denmark. Israel built the separation barrier in response to a wave of suicide bombings during the Second Intifada. Palestinians see it as a land grab because it dips into the West Bank. Much of the West Bank is under direct Israeli military rule, while tiny Gaza — just about the length of a marathon run in a straight line — is blockaded by Israel and Egypt. “When people see how Palestine is cut up and how Israelis rule over it, people will change their opinions of us,” Salam Masalma, 18, said of the marathon, wearing sunglasses and a Muslim head scarf with her running outfit. For many Palestinians, the

marathon was a day of fun in the usually morose West Bank. Thousands of Palestinians and foreigners crowded into the city’s central Manger Square; the Church of the Nativity on one side, a mosque on the other. Hana Abu Emaylaq, 29, a female runner from Gaza, trains in a stadium to avoid scorn. It was the first time she had run in an open Palestinian area. “It was really nice,” she said. And for the first time, Gazans were permitted to travel to the West Bank to participate in the Bethlehem marathon, said Shai Grunberg, a spokeswoman for Gisha, an Israeli rights group. Nader al-Masri, who was on the Palestinian team at the Beijing Olympics in 2008, won the marathon in 2:57:14. Another Gazan, Yousef Abeid, 21, won the 21-kilometer race. He said he trained by running from his university to his job. “This shows,” he said, “Palestinians can’t be broken.”

Fighting Over the Harvest’s Leftovers By SUZANNE DALEY

VILLAFRANCA de los BARROS, Spain — Though the official harvest had ended weeks before, there were still olives under the trees outside this small town southwest of Madrid recently, and Luis Cardenas Travado, 52, was hard at work raking them up to make extra money. Maybe just 20 or 30 euros. But with all four of his adult children unemployed and living at home, even that would help. “We can buy some fuel,” said Mr. Cardenas, who once worked in construction. “Not for heating. We can’t afford heating. But for cooking.” Picking up the leftovers after the harvests — whether grapes, olives or garlic — has been a way of making extra income in these parts for as long as anyone can remember. But farmers complain that hard times have led far too many pickers to the fields. They say that swarms of outof-towners, often Romanians, are at it, too, making a profession of gathering the leftovers. And as they work, they break branches, drive their trucks onto the fields and maybe even affect the quality and the price of regional goods, like wine and olive oil, because Rachel Chaundler contributed reporting.

BODO, Norway — From his post burrowed deep into a mountain north of the Arctic Circle, the 54-year-old commander of the Norwegian military’s operations headquarters watches a resurgence of Russian military activity redolent of East-West sparring during maneuvers that, in violation of the Cold War. established procedure, were “I am what you could call a announced at the last minute seasoned Cold Warrior,” the or kept secret. commander, Lieutenant GenKatarzyna Zysk of the Noreral Morten Haga Lunde, said, wegian Institute of Defense speaking in an underground Studies said Mr. Putin had emcomplex built to withstand a phasized strengthening Rusnuclear blast. As a result, he sia’s military presence in the added, he is not too alarmed by Arctic; equipping the Northincreased Russian military acern Fleet, based in Murmansk, with new nuclear submarines; tivity along NATO’s northern setting up a string of bases flank. along the vast northern coast; “It is more or less the same as and reopening abandoned Sowhen I started,” said General Lunde, who began his career viet-era military facilities. tracking Soviet warplanes in Norway, she said, “does not the early 1980s. President Vladcount for Russia as Norway, but only as a member of NATO.” imir V. Putin’s newly assertive She continued, “For them, it is Russia “is back to normal bethe door to NATO.” havior,” General Lunde said. This link, she said, has made Last year, Norway interRussia particularly suspicious cepted 74 Russian warplanes of Svalbard, a demilitarized off its coast, 27 percent more cluster of Norwegian-controlled often than in 2013, scrambling islands in the high Arctic that F-16 fighters from an air base in Bodo to monitor and photograph them. This is far fewer than the hundreds of Soviet planes Norway tracked off its coast at the height of the Cold War, but it is a sharp increase from the 11 Russian warplanes Norway spotted 10 years earlier. In Norway, a counBRYAN DENTON FOR THE NEW YORK TIMES try that takes pride in Increased Russian warplane traffic championing peace, what General Lunde over the Arctic is being monitored called the “new old from a bunker in Bodo, Norway. normal” has come as a jolt. Moscow believes serves as a Norway’s defense minister, platform for eavesdropping and Ine Eriksen Soreide, said the other covert activities by NATO. military was being restrucFinland has grown so contured to better deal with new risks. “Russia has created uncerned that it has floated the idea of joining NATO, previouscertainty about its intentions, so there is, of course, unpredictly a taboo topic. Prime Minister Alexander Stubb has said he ability,” he said. would like Finland to join the Nobody expects Russia to inalliance one day, and this has vade. But Russia has itself fed growing support, according to the scaremongering. Moscow’s opinion polls. ambassador to Copenhagen reRussia’s assertiveness has cently commented that Danish prodded NATO to strengthwarships “will be targets for Russia’s nuclear weapons” if en its presence in the Baltics, Denmark contributes radar where new alliance members to a Europe-based missile delike Estonia have no air force of their own but now welcome rofense system planned by NATO . tations of warplanes from othWhen Mr. Putin first became er members, including Poland president in 2000, Russia spent and Britain, to patrol the skies. $9.2 billion on its military. The “After the Berlin Wall came figure is more than five times down, everything was very higher now and it is expected quiet,” said the veteran comto increase again this year demander of the 331st Air Squadspite an economy hammered ron, whose F-16 fighters are on by a collapse in the price of oil round-the-clock alert as part of and by Western sanctions. NATO’s air defense network. Russian air activity along the “Now it is a lot more interestborders of NATO, the northern ing,” he said, speaking on the parts of which are patrolled condition of anonymity beby fighters based in Bodo, incause of military rules. The commander added, “The creased 50 percent from 2013 problem in Norway is that we to last year, according to the alare so rich, fat and happy that liance. At the same time, Ruswe are not worried enough.” sia sharply increased training

older and cheaper products make their way into the pipeline. The subject has caused tension in many of Spain’s villages, where hundreds of families depend on income from picking up leftovers. The regional government here is pursuing the creation of a board to regulate leftover sales. Farmers sometimes give permission for leftover picking, but they are not always asked. Ventura Arroyo, the president of the agriculture collective in

Spain’s times push hordes of pickers into the fields. Villafranca de los Barros, said his group did not want the practice of picking leftovers to be forbidden. But he said his members did want more oversight. “Traditionally, those who did this were from the village, and they used good practices — they knew what they were doing,” he said. “But a lot of the people out there today are from different countries. It’s not the same.” Many here sell the leftovers

they collect to Juan Luis Diaz. He opened his warehouse in 2012, believing leftover pickings could be a niche business. Official harvesting, he said, always left good fruit behind. And because fruit does not ripen evenly, there is always more to collect a few weeks after the harvest. While it may not make economic sense for a farmer to double back for the scraps, it could be profitable for pickers working alone. Though leftovers are often lower quality, he said, they are still good for something. For instance, he said, older grapes are good for making vinegar or cooking wine. Mr. Diaz said foreign pickers brought to Spain to work on the official harvests often needed the leftovers to make ends meet. “It’s certainly better than having people go on welfare,” he said. One of the pickers selling leftovers to Mr. Diaz recently was Viorel Constantin, 52, who came from Romania nine years ago to work in the fields. He and his family move around following work, harvesting potatoes one month and grapes the next. But it would be difficult without the money from picking leftovers. “There are good farmers here and bad ones,” Mr. Constantin said. “Some of them say: ‘Leave it all on the ground. It is mine.’ ”

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MONDAY, APRIL 13, 2015

Sanctity of Truth

MONEY & BUSINESS

Cyprus Left Scarred By Europe’s Policies By JACK EWING

NICOSIA, Cyprus — The financial world has moved on since Cyprus was briefly the epicenter of market anxiety. Two years ago, the country’s banks failed en masse, and the integrity of the eurozone hung in the balance. After a contentious, internationally brokered “bailin,” in which many bank depositors were forced to help pay for a eurozone rescue, Europe’s policy makers soon found other things to focus on. Yet Christos Savvides, managing director of an advertising agency in Nicosia, does not have the luxury of forgetting. Daily reminders include the rows of downtown shops that once sold luxury clothing brands but now stand empty. He lost hundreds of thousands of euros that he had deposited in Cyprus banks — money seized in the rescue program to cover bank losses. In retrospect, it is clear that European leaders, international creditors and bank regulators could have done more to limit the economic upheaval caused by seizing portions of depositors’ money above the level of 100,000 euros covered by deposit insurance, roughly $105,000. In fact, a new European Union law written after the crisis would probably have exempted Mr. Savvides, since the deposits in his case actually belonged to his clients. One surprising lesson may be that capital controls — restrictions on withdrawals and on money transfers out of the country — were not as disruptive as feared, but did help prevent even more money from leaving Cyprus. If anything, some economists say,

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Cyprus was known as a haven for Russian cash. Right, reminders of the 2013 bank failures include closed shops in Nicosia and high unemployment. ANGELOS TZORTZINIS FOR THE NEW YORK TIMES

the restrictions should have been applied sooner, before many of the biggest and most sophisticated investors fled. More recently, foreign money has been trickling back into Cyprus. Cyprus represents what many Europeans see as insensitivity in Brussels, Frankfurt and Berlin toward the people like Mr. Savvides who must suffer the consequences of eurozone crisis management. Among Cypriots, the feeling is widespread that as a country of fewer than one million people, geographically closer to the Middle East than to Europe and with a reputation as a haven for Russian cash, they were used as lab rats to test new and poorly conceived policies. “It was an experiment,” said Antonis Paschalides, a former government minister who is suing the European Commission

Deposit seizures, an ‘experiment’ that hurt Cypriots. and the European Central Bank on behalf of those who say their deposits were seized illegally. The parallels with Greece are not perfect. The Greek economy is more than 10 times the size of Cyprus’s. And banking played a far bigger role in the Cypriot economy — with assets valued at six times gross domestic product before the crash. Unemployment is still above 16 percent. The economy shrank 0.7 percent in the fourth quarter of 2014, compared with the previous quarter, the worst performance

in the European Union. And more than half the outstanding bank loans in Cyprus are classified as nonperforming — a huge obstacle to growth. John Hourican, chief executive of Bank of Cyprus, the largest commercial bank and one of the few left standing, conceded that the level of damaged loans was high. He said that he empathized with Cypriots who believe they were treated poorly by European Union institutions. Account holders at Bank of Cyprus lost almost half their money above the €100,000 level, receiving stock in the bank as compensation. Those shares have since plummeted in value. “In every other country in the European Union without exception, this has not been allowed to occur,” he said. “It has caused a psychological scar.”

European officials argue that if depositors in Cyprus had not been forced to pay, taxpayers would have had to pay instead. The news from Nicosia is not all bad. At Bank of Cyprus, deposits rose in the fourth quarter, reversing an outflow that began before the 2013 crisis. And the last remaining restrictions on transfers of money outside of Cyprus will be lifted soon, said Chrystalla Georghadji of the central bank. Among Cypriots there is profound unease about what will happen when new legislation gives banks more power to go after debtors. Based on Europe’s ham-handed handling of the bailin, few people expect anyone outside Cyprus to care. “We feel bitter,” said Christos Phokas, a former bank worker. “Instead of helping us, they acted like they didn’t know us.”

Upstarts in TV Streaming Face Competition, From TV By EMILY STEEL

Netflix, Amazon and Hulu have suddenly found themselves playing a new role: the establishment. After years of waging an assault on the traditional television business, these companies now must defend their turf in Internet streaming. HBO, Apple, Sony, Dish and other companies that were once challenged by services like Netflix have stormed onto the field in recent weeks, with claims of reinventing the way people watch and pay for television. This increases the competition for Netflix, Amazon and Hulu, which not only invented the category but also induced a wave of TV fans to watch their favorite programs without paying for a cable or satellite subscription. Now, these competitors are forcing those companies to invest even more in exclusive, original productions, innovate their technologies, explore new partnerships and ramp up their marketing. “In a world where HBO and CBS and all of these guys are trying to go to the Internet, it looks

like all of the guys on the Internet are trying to come to the television,” said Kannan Venkateshwar, a media analyst at Barclays. “The worlds are actually converging in both directions.” Netflix is framing HBO’s push into streaming as a validation of its own philosophy. “A lot of people will subscribe to more than one service similar to the way they do with apps on their phones or magazine subscriptions,” said Anne Marie Squeo, a Netflix spokeswoman. “So there’s room for multiple Internet content providers to thrive if they’re delivering great shows and movies for a reasonable price.” HBO and its sister network Cinemax have a combined 138 million subscribers worldwide, while Netflix has 59 million. In the United States, however, HBO has 30 million paid subscribers, while Netflix has 40 million. Netflix has plans for 320 hours of new and returning original series in 2015, including “Orange Is the New Black” and “Bloodline.” The company is expected to spend more than $450 million on original programming this year, up 88 percent from $243 million in

“The defining feature of those services will be original, first-run content.” HBO plans to charge $15 for its streaming service via Apple TV, while Netflix starts at $8 a month and Hulu Plus costs $8 a month. Continuing to invest in technology will also become increasingly crucial, analysts said. Hulu is hiring a couple of hundred more engineers this year to innovate. Hulu, the only one of the three big digital-first streaming services that shows ads, is exploring how it could reduce the number of ads. Some TV executives SAEED ADYANI/NETFLIX said that the introduction of more streaming offerNetflix is spending $450 million ings could actually propel on original shows like ‘‘Bloodlines’’ more people to subscribe this year, up 88 percent from 2014. to Netflix, Amazon and Hulu as they decide to 2014, according to the MoffettNacancel their cable or satellite subthanson research firm. scriptions. “You have to differentiate The thinking is that TV fans yourself relative to the mainpreviously may have hesitated to cancel their cable or satellite substream,” said Michael Nathanson, with MoffettNathanson. scriptions because there were

Fight heats up over who controls how people watch TV. fewer online options. Now that there are many more, consumers may decide to put together a menu of services that could potentially include the big three, and still pay less than their monthly cable bill, which comes to an average of $90 a household, according to the data firm SNL Kagan. Media executives said that a variety of discussions were underway for new partnerships. A promotion at the top of Amazon.com after Sony announced its new PlayStation Vue web-TV service pointed to one such partnership: It offered a discount on Amazon’s streaming device with a three-month subscription to Dish Network’s $20-a-month Sling TV service, which includes ESPN. The ad read: “The Best of Live TV.”

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THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, APRIL 13, 2015

MONEY & BUSINESS

Silicon Valley Drains Wall Street’s Brains By NATHANIEL POPPER and CONOR DOUGHERTY

LAURENCE KING PUBLISHING

More than 1.4 million copies of ‘‘Secret Garden,’’ a coloring book with intricate drawings, have been sold in 22 languages. More than 430,000 have been sold in South Korea alone.

Grown-Ups Get Out Their Crayons By ALEXANDRA ALTER

It may surprise fans of Johanna Basford’s intricately handdrawn coloring books that the artist is, by her own admission, “pretty bad” at coloring. “I can’t stay in the lines,” she said sheepishly. Not that it matters. Ms. Basford’s coloring book “Secret Garden,” a 96-page collection of elaborate ink drawings of flowers, leaves, trees and birds, has become a global best-seller. Since its release in spring 2013, “Secret Garden” has sold more than 1.4 million copies in 22 languages. Her follow-up, “Enchanted Forest,” is briskly selling through its first print run of nearly 226,000 copies. What makes Ms. Basford’s breakout success all the more surprising is her target audience: adults who like coloring books. There are, it seems, a lot of them. Though it is tempting to describe the market for her books as niche, Ms. Basford, a 31-year-old illustrator in Scotland, has outgrown that label. Coloring books have always seemed best suited for the preschool set. So Ms. Basford and her publisher were surprised to learn that there was a robust — and lucrative — market for coloring books aimed at grownups. When they first tested the waters with “Secret Garden” a year ago, they released a cautiously optimistic first printing of 16,000 books. “I thought my mom was going to have to buy a lot of copies,” Ms. Basford said. “When the sales started to take off, it was a real shock.” Surging demand caught Ms. Basford and her publisher off guard. Fan mail poured in from busy professionals and parents who confided to Ms. Basford that they found coloring in her books relaxing. More accolades flowed on social media, as people posted images from their coloring books. Hard-core fans often buy

several copies of her books at a time, to experiment with different color combinations. Others have turned it into a social activity. Rebekah Jean Duthie, who lives in Queensland, Australia, and works for the Red Cross, says she gathers with friends for “coloring circles” at cafes and in one another’s homes. “Each page can transport you back to a gentler time of life,” she said of the books in an email. Ms. Basford has become something of a literary celebrity in South Korea, where “Secret Garden” has sold more than 430,000 copies, she says. The craze was kicked off in part, it seems, by a Korean pop star, Kim Ki-bum, who posted a delicately colored-in floral pattern from Ms. Basford’s book on Ins-

A coloring book that sparks ‘something analog.’ tagram, where he has 1.8 million followers. Part of the apparent appeal is the tactile, interactive nature of the books, which offer respite to the screen-weary. “People are really excited to do something analog and creative, at a time when we’re all so overwhelmed by screens and the Internet,” Ms. Basford said. “And coloring is not as scary as a blank sheet of paper or canvas. It’s a great way to de-stress.” Her publishing break came in 2011, when an editor at Laurence King Publishing saw her work online. The editor thought her graceful illustrations could work well as a children’s coloring book. “I came back and said I would like to do a coloring book for grown-ups, and it got a bit quiet for a moment,” Ms. Basford said.

To convince them that it was a viable market, she drew five sample pages of mosaic-like illustrations. The publishers were sold. Ms. Basford spent the next nine months working on the book at night and freelancing as an illustrator during the day. Occasionally she had doubts. “I was worried that coloring for adults was silly and it was just me that wanted to do it,” she said. Other entries to this small but growing category include Patricia J. Wynne’s lavish, nature-themed Creative Haven coloring books — discreetly described as being “designed for experienced colorists” — and the more explicitly titled “Coloring Books for Grownups,” released by Chiquita Publishing. A subspecies of these books promotes the meditative aspects of coloring, including “Color Me Calm” (subtitle: “A Zen Coloring Book”) and books that promise “Easy Meditation Through Coloring.” Major publishers are seizing on the trend. This year, Little, Brown will release four illustrated coloring books for adults, all subtitled “Color Your Way to Calm.” The books, “Splendid Cities” by the British artists Rosie Goodwin and Alice Chadwick and three titles by the French illustrator Zoé de Las Cases, feature detailed cityscapes with famous landmarks, cafes and street life. Ms. Basford is now working on her third book. In the meantime, “Secret Garden” has sold out in many markets. Laurence King is reprinting 75,000 copies for the United States. Last month, Ms. Basford tried to calm her followers with a post on Facebook: “Don’t panic! New stock of Secret Garden and Enchanted Forest is on its way!” Some were not placated. “WEEKS?” one frantic follower replied. “I can’t possibly wait WEEKS!”

Silicon Valley looks like the new center of economic gravity.

One of the country’s largest banks, Morgan Stanley, is losing its chief financial officer to Google in the most visible example yet of the flow of talent from Wall Street to Silicon Valley. Ruth Porat, Morgan Stanley’s chief financial officer since 2010, roughly 1,000 entry-level sumhas been one of the most powermer jobs. In the last few years, Silicon ful women in a financial industry Valley has strengthened its case that has struggled to promote as the new center of economic and hold on to its female execugravity in the United States. Estives. She is going to Silicon Valley while it is facing its own issues tablished companies like Google about gender balance. Ms. Porat, and Apple have grown rapidly at 57, will be the first woman in Goothe same time that start-ups like Uber and Twitter have flourished. gle’s senior ranks. Mr. Reffkin said that when She is following in the steps of he was at Goldman, as chief of other big names from the basstaff to the bank’s president, “it tions of East Coast power who became clear that we are in the have recently decamped to the middle of a software revolution.” ascendant technology industry The economic strength of the on the West Coast. The former technology industry adds to the White House spokesman Jay lifestyle differences — including a Carney said last month that he relaxed dress code, better weathwas joining Amazon.com, and the former Obama aide David Plouffe er and a more freewheeling culjoined Uber last year. ture — that have long attracted But Silicon Valley has been young employees to start-ups. drawing much of its most valuThe most noticeable deparable new talent from Wall Street. tures from Wall Street have been A top banker at Goldman Sachs, the high-level banking execuAnthony J. Noto, moved west last tives like Ms. Porat and Mr. Noyear to become the chief finanto. But the more troubling trend cial officer at Twitter. Less than a decade ago, Wall Street firms were the premier destination for young college graduates and talented executives. More recently, the financial industry has been struggling to keep growing as it faces a raft of new regulations and a lack of public confidence as a result of the financial crisis. CHIP SOMODEVILLA/GETTY IMAGES Silicon Valley, on Ruth Porat, Morgan Stanley’s chief the other hand, is exfinancial officer since 2010, will have periencing a period of blockbuster growth the same title at Google. that has created dozens of billion-dollar start-ups practically overnight. for banks is the lower-ranking “Smart people go to where they programmers who are opting to feel there is the most growth,” head west at a time when banks said Robert Reffkin, who left are more dependent than ever on Goldman in 2012 after seven software and technology. years to found a real estate startThe start-ups, meanwhile, up, Compass. are not just stealing talent from At the Massachusetts InstiWall Street. Many are also trytute of Technology, a top source ing to build companies like the of young recruits, only 10 percent payment processors Square and of graduates went into finance in Stripe, which could siphon busi2014, compared with the 31 perness from the financial industry. As the movement between incent who took jobs on Wall Street in 2006, before the financial cridustries has taken hold, it has ofsis. Software companies, meanten built on itself. When Marissa Mayer became Yahoo’s chief exwhile, hired 28 percent of M.I.T. graduates in 2014, compared with ecutive in 2012, she hired Jacque10 percent in 2006. line D. Reses, a former Goldman Similar trends have been evbanker, as the company’s chief development officer. Ms. Reses’ ident at the other top training job, in essence, was to help Yagrounds that have long fed the upper ranks of Wall Street. At Harhoo recruit new talent and to find promising companies to buy and vard Business School, for examteam up with. ple, the percentage of graduates She has led Yahoo’s dozens of going into finance dropped to 33 acquisitions, including the $1.1 percent last year from 42 percent billion purchase of Tumblr and in 2006, while the numbers going the $640 million purchase of into technology jumped to 17 perBrightroll. cent from 7 percent. Ms. Reses said, “I have hired Yet Wall Street remains the people out of Wall Street, primartop destination at many business schools. Last summer, Morgan ily because it was a peer group Stanley had 90,000 applicants for that I was very familiar with.”

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MONDAY, APRIL 13, 2015

Sanctity of Truth

SCIENCE & TECHNOLOGY

Modern Explorers Seek Relevance in GPS World By DANIEL ENGBER

PHOTOGRAPHS BY FRED R. CONRAD FOR THE NEW YORK TIMES

Many Explorers Club Annual Dinner attendees wore ethnic attire: clockwise, from top left, Laetitia Garriott de Cayeux and son Ronan; Greg Olsen; Paul Rodzianko; and Baron Ambrosia.

Eric Larsen seemed ill at ease. He is more in his element trudging across an ice shelf than mingling at a fancy party in Manhattan, yet here he was at the American Museum of Natural History. He came because of how he makes a living. It’s printed on his business card: Explorer. He had trekked from his home in Boulder, Colorado, for his profession’s version of the Oscars: the Explorers Club Annual Dinner and awards. More than a thousand people joined him. Among them were the astronaut Buzz Aldrin, the astronomer Neil deGrasse Tyson and a panoply of others who make a point of seeking thrills and knowledge. Founded in 1904, the Explorers Club is an international society dedicated to promoting field research and “preserving the instinct to explore.” Among its early members were the first humans to visit the North Pole, the South Pole, the summit of Mount Everest and the surface of the moon. Theodore Roosevelt was a member. For all the triumphs of the past, today’s explorers face a daunting prospect: Our maps are fully drawn, and there is not much left for them to do. We may still search the ocean floors and rappel into uncharted caves, but it is hard to shake the feeling that these expeditions are not fundamental. The “instinct to explore” may still persist, but it’s lost its whiff of derring-do. Do we really need explorers Eleanor Stanford contributed reporting.

NEWS ANALYSIS

Being Visual in Digesting Big Data By BENEDICT CAREY

For the past year or so, genetic scientists at the Albert Einstein College of Medicine in New York have been collaborating with a specialist from another universe: Daniel Kohn, a painter and conceptual artist. Mr. Kohn has no training in computers or genetics, and he is not there to conduct art therapy classes. His role is to help the scientists with a signature 21st-century problem, namely, Big Data. Advanced computing produces waves of abstract digital data that in many cases defy interpretation. To extract some order from this chaos, analysts need to continually reimagine the ways in which they represent their data, which is where Mr. Kohn comes in. Scientists working in a little-known branch of psychology called perceptual learning have shown that it is possible to fast-forward a person’s gut instincts both in physical fields and more academic ones. The idea is to train specific visual skills, usually with comput-

er-game-like modules that require split-second decisions. Over time, a person develops a “good eye” for the material, and with it an ability to extract meaningful patterns instantaneously. Take learning to fly, a disorienting and sometimes terrifying experience that requires hundreds of hours in the air and in

Honing the instinct to see meaningful information quickly. the classroom, many of them devoted to learning how to read an instrument panel. In the 1980s, a cognitive scientist named Philip Kellman wondered if there was a better, and quicker, way. The dials on the instrument panel are easy enough to read on their own, one at a time, but reading all of them at once, at a glance,

is another skill altogether. It’s more about reflexes, and gut feeling, than reasoning. Dr. Kellman designed a lesson during which a student sees a panel on a computer screen and decides quickly what the dials are saying, collectively. Below the panel are seven choices, including “straight climb,” “descending turn” and “level turn.” A chime sounds if the answer is correct. A burp sounds if the answer is wrong, and the correct answer is highlighted. Then up comes the next screen, with another instrument panel, and then another, with instant feedback. In 1994, Dr. Kellman, now a professor at the University of California, Los Angeles, tested this perceptual learning module, as he calls it, on amateur pilots. After one hour of training, novices could read the panel as accurately and quickly as pilots with an average of 1,000 flying hours, he found. Dr. Kellman and others have used variations on this method to quickly ramp up instincts in

in the age of Google Maps? The Explorer Club’s departing president, Alan H. Nichols, 85, believes we do. “This is the golden age of exploration,” he said recently in a meeting at the club’s headquarters. Members come here to drink whiskey and host lectures amid the mounted tusks, sleds and axes. Some of Roosevelt’s trophies decorate the rooms. He has been working on finding the tomb of Genghis Khan. “They’ve been looking for the tomb for 750 years, and they haven’t found him,” he said. “But we’ll find him. Why? Because we’ve got underground-penetrating X-rays, we’ve got drones, we’ve got

Derring-do is losing out to robots and Google Maps. magnetometry. We’ve got all this stuff that explorers haven’t had before!” But the growth of new technology poses problems for one of the club’s most cherished precepts — that exploration means adventure in the field. These days, many of the most thrilling expeditions are made remotely, using robot arms and sensors, and in place of legendary ship captains and mountaineers there are teams of scientists and engineers. When NASA sends up rovers to study the Martian surface, they are controlled by committee in Pasadena, California. “Their psychological expe-

rience is of being there,” said Bill Clancey, a cognitive scientist who embedded with the Mars Exploration Rover mission in February 2004. The Explorers Club has grappled with these modern expeditions by honoring the scientists in charge. Not everyone agrees with their inclusion, though. Mr. Nichols caught some flak for offering Elon Musk a special honor at last year’s dinner. “Explorers were coming to me and saying, ‘It’s ridiculous to call him an explorer.’ ” Mr. Musk, the chief executive of SpaceX and Tesla Motors, has fostered journeys into space, but he has not gone on the trips. There are some places where exploration in the classic mode still seems viable, and where the issues are not quite so vexed. This year, the club honored C. William Steele, a caver who was about to set off to spelunk in Huautla, Mexico, the site of the deepest cave system in the Western Hemisphere. For some self-described explorers, the changes in what it means to explore have meant turning inward. “It’s about the story that I’m telling,” Mr. Larsen, the Colorado explorer, said at the dinner. He makes a living finding sponsors for his polar expeditions, but he does not promise travel to new places. Instead, he finds a way to fill the old ones with a novel set of meanings. A few years ago, he tried to reach the South Pole on a bicycle. “At this point, it’s not so much about ‘I did this,’ ” Mr. Larsen said. “It’s how I did it.”

be able to build a catalog of digital patterns that provide meaningful “clues” to the underlying reality. When that happens, scientists will gain a means to build a prototype for applying perceptual-learning techniques. Given the importance of defusing terrorist plots and mining health and economic data, digital inTHE NEW YORK TIMES stinct-building is other complex fields, including likely to become crucial. dermatology, chemistry, cardiolFor now, it is easier to invite a visually creative expert over ogy and even surgery. to the lab, to see what he or she It is unclear if there are drawcan add. backs of leaning heavily on per“One thing I try to argue is ceptual training. But this is no that it’s not just about bigger magimmick. The medical school at U.C.L.A. has adopted perceptual chines to crunch more data, and modules as part of its curricuit’s not even about pattern reclum, to train skills like reading ognition,” Mr. Kohn, the painter, electrocardiograms or identifysaid. “It’s about frameworks of recognition, how you choose to ing rashes. look, rather than what you’re tryThe most important question when dealing with reams of digiing to see. Scientists often think of visual images like graphs as tal data is not whether perceptuthe end result of their analysis. I al skills will be centrally importtry to get them to think visually ant. The question is when, and from the beginning.” in what domain, analysts will

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, APRIL 13, 2015

SCIENCE & TECHNOLOGY

In Vietnam, Smuggling of Wildlife Imperils Species By RACHEL NUWER

U MINH, Vietnam — Luc Van Ho slips through a thicket of jungle, a blanket of dried bamboo and melaleuca leaves barely crackling underfoot. A hunter, Mr. Luc, 45, set out at dawn from his bamboo-thatched home in Vietnam’s U Minh forest to check a half dozen traps rigged along trails and on canal banks. He stops at a trap that is empty. “Before, this forest was very different,” Mr. Luc said. “Now, the animals are so few that most hunters are changing their jobs.” Still, in the previous two weeks, Mr. Luc had caught nine Southeast Asian box turtles and Malayan snail-eating turtles, five elephant trunk snakes and two rare Himalayan griffon vultures. In the past, Mr. Luc’s hunting trips often yielded wildlife bonanzas, including prized pangolins. Also known as scaly anteaters, they are among the most trafficked mammals in the world. Mr. Luc works with traders who buy live pangolins for about $30 a kilo. Although he caught just two pangolins last year, that price makes it well worth the effort to hunt them. “Pangolins will be extinct soon,” he said. Mr. Luc is one of thousands of illegal hunters draining Vietnam, one of the most biodiverse countries in the world, of its animals. Its rhinoceroses have already gone extinct, and conservationists estimate that just a couple of its tigers, if any, remain. Even lesser known species like soft-shell turtles and civets are sought out for traditional medicines, food, trophies and pets. Illegal wildlife is one of the world’s largest contraband trades, netting $19 billion a year. Vietnam is a major thoroughfare for wildlife goods bound for China, which arrive overland from Cambodia, Thailand and Laos; by ship from Malaysia and Indonesia; or by air from Africa. “After China, Vietnam is the next port of call in terms of where to look to figure out what’s going on with wildlife trade,” said Dan

Wild animals are poached for consumption in Vietnam. Cutting the heart from a live cobra.

RACHEL NUWER FOR THE NEW YORK TIMES

Challender of the International Union for Conservation of Nature. Vietnam is also a significant consumer of wildlife, especially those yielding the ingredients for traditional medicine, such as rhino horn, which is used to treat everything from cancer to hangovers. The exotic meats of rare animals are seen as luxuries by a rising middle class. “Pangolin is frequently the most expensive item on the menu, so ordering it is an obvious way to show off to friends and colleagues,” Dr. Challender said. In January, officials intercepted more than 7,500 protected pig-nosed turtles in Indonesia, a frozen tiger in Vietnam and 190 endangered black pond turtles in Singapore. Last year in South Africa, a record 1,215 rhinos were killed for their horns. The illegal wildlife products that officials interdict account for an estimated 10 percent to 20

The scaly pangolin, at about $30 a kilo, heads for extinction. percent of the total trafficked. While China recently increased its arrests and prosecutions for wildlife crimes, those caught trafficking wildlife in Vietnam or other transit countries almost always escape punishment. Dealing in protected species is a criminal offense under Vietnamese law, as is selling wild-caught animals of any kind. Poachers like Mr. Luc — who says he has never run into legal trouble — are rarely reprimanded, and punishment, if any, usually entails a small fine. “It’s not an enforcement priority yet, largely due to corruption,

collusion and an absolute lack of concern,” said Chris Shepherd, regional director in Southeast Asia of Traffic, a wildlife trade monitoring network. “People just do not care.” Thien Vuong Tuu (“The Alcohol of the Gods”), a restaurant in Ho Chi Minh City, advertises pangolin, bear, porcupine and bat on its menu. Customers must order pangolin in advance. The manager presents the live pangolin to the table, then slices its throat to prove that the meat is fresh. “Pangolin is very popular with customers, because it treats a lot of sicknesses,” said Quoc Trung, the restaurant manager. His staff will also dry and package pangolin scales left over from dinner — a popular ingredient in traditional medicines that are still covered by Vietnamese health insurance. On one Sunday night, two

Studies Cast Doubt on Fish Oil Benefits By ANAHAD O’CONNOR

While sales of fish oil have been doubling worldwide, trials have shown it has no effect on health. Fish oil is now the third most widely used dietary supplement in the United States, after vitamins and minerals. Consumers believe the omega-3 fatty acids in the supplements protect cardiovascular health. But the vast majority of clinical trials have found no evidence that fish lowers heart attack and stroke rates. From 2005 to 2012, at least two dozen studies of fish oil were published, most of which looked at whether fish oil could prevent heart disease in high-risk groups. These were people who had a history of heart disease or strong risk factors for it, like high cholesterol. All but two of the studies found that compared with a placebo,

Inuits’ healthy hearts spurred the fish oil craze. fish oil showed no benefit. Most fish oil supplements are rich in two omega-3 fatty acids that can have a blood-thinning effect, much like aspirin, that may reduce the likelihood of clots. Omega-3s can also reduce inflammation, which plays a role in atherosclerosis. And the United States Food and Drug Administration has approved at least three prescription types of fish oil — Vascepa, Lovaza and a generic form — for the treatment of very high triglycerides, a risk factor for heart disease. Some of the earliest enthusi-

asm for fish oil goes back to research carried out in the 1970s by the Danish scientists Dr. Hans Olaf Bang and Dr. Jorn Dyerberg. They determined that Inuits living in northern Greenland had remarkably low rates of cardiovascular disease, which they attributed to an omega-3-rich diet consisting mainly of fish, seal and whale blubber. Dr. George Fodor, a cardiologist at the University of Ottawa, outlined flaws in much of this early research, and he concluded that the rate of heart disease among the Inuit was vastly underestimated. But the halo effect around fish oils persists. Several studies from the 1990s, including an Italian study that found that heart attack survivors who were treated with a gram of fish oil daily had a drop in mortality, bolstered the case for fish oil. Dr. James Stein, the director

TONY CENICOLA/THE NEW YORK TIMES

Fish oil became popular before statins came into use. of preventive cardiology at University of Wisconsin Hospital and Clinics, said the early fish oil studies took place in an era when cardiovascular disease was

French-speaking men ordered a cobra. Two young servers brought out a large, writhing snake, its mouth bound with plastic twine. One server held the snake taut. The other located the heart, then cut into the snake with a pair of scissors and removed the beating organ with his bare fingers. The animal’s blood dripped into a ceramic bowl, to be mixed later with alcohol and drunk. “The government doesn’t allow exotic meat, but we have our sources and good connections with the police,” Mr. Quoc said. “The demand is so high for these things, so we have to supply them.” Much of the wildlife that is intercepted is sold by officials back into the black market. “The problem in Vietnam,” said Nguyen Van Thain, Save Vietnam’s Wildlife’s founder, “is that conservation is a new way of thinking.”

treated very differently than it is today, with far less use of statins, beta blockers, blood thinners and other intensive therapies. So the effect of fish oil, even if it had been minor, he said, would have been more noticeable. Dr. Stein also cautions that fish oil can be hazardous when combined with aspirin or other blood thinners. But some experts say the case for fish oil remains open. Dr. JoAnn Manson, the chief of preventive medicine at Brigham and Women’s Hospital in Boston, said the clinical trials had focused on people who already had heart disease or were at very high risk. Fish oil has also been promoted for the prevention of a variety of other conditions, including cancer and Alzheimer’s and depression. “But I do think people should realize that the jury is still out,” she said, “and that they may be spending a lot of money on these supplements without getting any benefit.”

MONDAY, APRIL 13, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

STYLES

Devices Get Personal, With Designers’ Help By MOLLY WOOD

JASON HENRY FOR THE NEW YORK TIMES

Workers at what may be Mark Zuckerberg’s home, but privacy laws make it hard to know.

Privacy, for Tech Titans There are all sorts of activities required of the people who remodel the homes of tech titans in Silicon Valley. Laying reclaimed-wood flooring, installing ever-tinier bathroom tiles, wiring the network. Add a new one: ESSAY signing a domestic nondisclosure agreement. These documents, demanding the utmost secrecy, are being required of anyone associated with the homes of a small but growing number of tech executives, according to real estate agents, architects and contractors. Celebrities have often sought confidentiality about their residences. But now, say those signing the N.D.A.s, the secrecy is sometimes sought by people who don’t necessarily have their own renown, but who work for well-known tech companies — Facebook, Google, Twitter. “They are people you’ve never heard of,” said one contractor who asked not to be named because he signed N.D.A.s 10 times in the last three years when he did remodeling work. The types of workers asked to sign such agreements, he said, are “across the board: painting, flooring, cleaning, gardeners, landscapers, anything associated with the house itself.” “Sometimes,” the contractor said, “you don’t even know who the client is. Or it slips out in the duration of the job.” Finding out who and how many people insist on N.D.A.s is next to impossible. But a recent lawsuit involving one of the biggest names of all, Mark Zuckerberg, has shed light on the homefront N.D.A.s, and the urge for privacy that compels them. In an email disclosed in the case, a lawyer for Mr. Zuckerberg wrote to the opposing lawyer, “As your client knows, Mr. Zuckerberg

MATT RICHTEL

goes to great lengths to protect the privacy of his personal life.” Which adds a wrinkle: Some people requiring nondisclosure are the very ones who have built an industry on its opposite, the disclosure of personal information. Neil Richards, a professor and privacy expert at the Washington University School of Law in St. Louis, Missouri, said the N.D.A.s created a kind of “haves and have-nots with respect to information.” So you won’t learn much about the work being done at 21st Street in San Francisco from the workers there. I recently approached a man standing on the block, introduced myself as a reporter and asked what he was up to. “Working on a house,” he said. “Are you talking about Zuck-

Secrecy required, for ‘painting, flooring, cleaning, gardeners.’ erberg’s place?” I asked. It’s been widely reported that the property is his, though the public record says the owner is SFRP L.L.C. “I can’t say who it is, and I can’t say who it isn’t,” the worker said. Had he signed an N.D.A.? “All the workers sign them,” he conceded. Conversation over. I introduced myself to a guy sitting behind a table across the street from the house — he seemed to be a foreman or at least someone handing out the badges the workers all wore. He said the place was “just a house” and handed me a card with an email address for Facebook public relations, but no name.

An email sent to the contact at Facebook was not returned. A Facebook spokeswoman said the company did not comment on Mr. Zuckerberg’s personal affairs. The lawsuit against Mr. Zuckerberg involves a different residence, 55 kilometers south in Palo Alto. In it, a developer named Mircea Voskerician claims that he had a contract to buy a $4.8 million house adjoining Mr. Zuckerberg’s residence and offered to sell a piece of the property to Mr. Zuckerberg. He says that in a meeting at Facebook headquarters, he discussed a deal to sell his interest in the entire property to Mr. Zuckerberg. In exchange, he says, Mr. Zuckerberg would introduce him to powerful people in Silicon Valley, potential future business partners and clients. Mr. Voskerician passed up a better offer on the house, the suit contends, but Mr. Zuckerberg did not follow through on the pledge to make introductions. Chris Hoofnagle, a privacy expert and lecturer at the law school of the University of California, Berkeley, said that while it was noteworthy that data merchants were seeking greater personal privacy themselves, they also may well be on the right track. A nondisclosure agreement, which keeps intimate information from ever getting online where it can spread, “is the sensible thing to do.” Sharon, a neighbor walking by, was angered by the construction site. She said she was a retired, early-generation techie who declined to give her last name, saying she feared “retribution.” “It’s outrageous,” she said of Mr. Zuckerberg’s yearning for privacy, as well as all the activity on the block. “Look at this privacy. It’s been like this for two years. Where’s the concern for the neighbors?”

There’s how a product looks and how you interact with it, and both come down to design. In tech, it is the design that separates a successful product from a dud. You need good physical design — or industrial design — to get people to try something. The real differentiator, though, is how the thing works. “Designing physical objects, this is not a new concept,” said John Maeda, the design partner at the venture capital firm Kleiner Perkins Caufield & Byers. “But if the software isn’t good, it doesn’t matter.” “If you can make this amazing bracelet and the software is bad, you’re going to throw it away,” Mr. Maeda said. That is particularly true for tech products that are becoming commodities, like smartphones. At this point, the processors in smartphones are so fast, the screen resolutions so high, the cameras so capable and the software so refined that it seems silly to even talk to consumers about the basic functions of the phone. To stand out from the crowd, physical design and the software experience are the two best options. Samsung has some clever industrial design, with the new Samsung Galaxy S6 Edge, a phone whose glass sides curve abruptly down at the edges. Those side panels incorporate features like customizable flashing lights to see who’s calling, quick access to contacts and a low-light alarm clock. Microsoft’s Lumia phones carry forward the design ethos they got from Nokia: bright colors, pleasing matte backs and the unique, customizable tiled Windows Phone interface. Motorola hopes the Moto X’s swappable back covers, which include leather and bamboo and the option of a personal monogram, will appeal to shoppers who want something other than a plain metal rectangle. And industrial design will be increasingly important as devices get more personal — and wearable. The Apple Watch has generated talk about whether it looks good enough to replace designer watches like those from Michael Kors or even Rolex. “Watches and wearables are moving into that same space of shoes and purses and hats, and not a lot of people have integrated that with technology,” said Brett Lovelady, founder

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A video on designers includes the making of the FuelBand: nytimes.com Search wearables

and chief executive of Astro Studios, a design firm based in San Francisco. Astro Studios designed one of the first popular wearable devices — the Nike FuelBand. Mr. Lovelady said the FuelBand worked because it combined a physical design that sent a message of sportiness and power, and because, crucially, the software experience motivated people with entertaining animations, rewards and social interactions. “It was kind of the total package.” Start-ups begun by designers, Mr. Maeda said, were being acquired at a rapid rate by companies known for having a tech-first approach. Google, Facebook, Adobe, Dropbox and Yahoo have all bought design-oriented start-ups since 2010, Mr. Maeda’s data showed. Ben Blumenfeld, a co-director at the venture capital firm

Tech firms learn to value how products look and feel. Designer Fund, said a few companies and experiences — especially in mobile — were showing people that the systems they interact with every day could be much better. “Doctors are starting to use iPhones and they’re saying, ‘Wait a second, why doesn’t my electronic records system work like my iPhone apps?’ ” he said. “So the demand for design in other areas is now higher.” The real design victory is in considering exactly how someone will want to navigate an app, communicate or conduct a transaction. And that may mean that employees with traditionally product-oriented roles might have to learn design, and new jobs must be created. Mr. Maeda cautions that companies should not be fooled by thinking that good looks alone will mean success. “It isn’t that design is more important than technology or the business model,” he said. “You need both.”

BRANDON LYNNE AND WOO ROBERTS

The Nike FuelBand’s designer says success has been based on a sporty look and interactive software that entertains.

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, APRIL 13, 2015

ARTS & DESIGN

A YouTube Sensation Takes a Turn With Novels By ALEXANDRA ALTER

Nearly five years ago, an animated 16-year-old named Paige McKenzie uploaded a video to YouTube. “I know this is a little strange,” she says, adding that her house is haunted and she aims to capture the ghost on camera. More than 130 million views later, Ms. McKenzie’s web series, “The Haunting of Sunshine Girl,” has become her job. Ms. McKenzie said she spends 80 hours a week shooting, acting in and editing the show, and trading messages with viewers. “Twitter, Facebook, Instagram, Pinterest, Snapchat, Tumblr, Google Plus, YouTube, Meerkat, the occasional smoke signals, you know,” she said when asked how she keeps in touch with her fans. “The interaction is key. I’m accessible. My life is on YouTube.” Now, in an inversion of the usual page-to-screen adaptation process, Ms. McKenzie is turning her show into a series of young adult novels. The story follows a teenage heroine, Sunshine Griffith, as she investigates a spirit haunting her house and tries to rescue her mother from demonic possession. The first book, “The Haunting of Sunshine Girl,” was published last month by Weinstein Books, with endorsements from the author R. L. Stine and the filmmaker Wes Craven. “Sunshine Girl,” written with a collaborator, is the latest literary adaptation to emerge from YouTube. Publishers have also released “The Pointless Book,” by Alfie Deyes; “Girl Online,” by Zoe Sugg; and “Grace’s Guide,” by Grace Helbig. So far, the re-

Viewers of videos, some fear, may not progress to reading.

LEAH NASH FOR THE NEW YORK TIMES

After Paige McKenzie got 130 million online views, she decided to write books. sults have been mixed. “Epic Meal Time,” a cookbook based on a YouTube show with more than 6.7 million subscribers, has sold just 2,192 copies. “I’m holding my breath,” said Jennifer Bergstrom of Gallery Books, which will publish a book by the YouTube comedian Miranda Sings this July. “The concept of people watching videos and wanting to buy the book, I question whether that’s going to be a natural progression.” Weinstein Books is aiming one marketing campaign at Ms. McKenzie’s YouTube audience,

and another at the potential readers who have not heard of her. A television show — based on the novel based on the YouTube show — is in production at the Weinstein Company, and Ms. McKenzie’s contract locks her in as the star. The project started in 2010 when a film producer, Nick Hagen, contacted Mercedes Rose, Ms. McKenzie’s mother, who is an actress and voice-over artist, about collaborating on a YouTube show. Ms. Rose, her daughter and Mr. Hagen formed a production company, Coat Tale Productions.

They quickly learned tricks for luring in viewers, like posting warnings on the videos that say “Don’t Watch!” Rumors swirled that the ghostly apparitions were real. Nearly a year later, the videos passed five million views. The show now brings in around $6,000 a month in advertising. Now 20 and living outside of Portland, Oregon, Ms. McKenzie says Sunshine’s character is “99.8 percent” based on her. She spent much of her adolescence in front of the camera. When she was harassed

Destruction Revives Debate About Artifacts By TOM MASHBERG and GRAHAM BOWLEY

Assyrian relics that have stood for 3,000 years smashed and desecrated. Ruins from Babylonian times bombed and bulldozed. Scrolls and shrines ravaged from Somalia to Timbuktu. Museum directors, archaeologists, collectors and others have been united in their disgust as Islamic militants make a show of ravaging artifacts from the ancient world. But the devastation has also intensified a debate over whether American museums, Western collectors and others should be returning disputed artifacts to the lands where they originated, a practice known as repatriation. Gary Vikan, former director of the Walters Art Museum in Baltimore, Maryland, said he believed the violence in Iraq, Syria, Afghanistan and northern Africa, should — and will — make museums more conservative about such returns. “I think this will put an end to the excess piety in favor of the repatriation model,” he said. Other scholars and archaeolo-

Destruction of antiquities, like this scene from Mosul, has reignited the debate over the return of artifacts to their homelands.

In tumultuous times, where do artifacts belong? gists suggest those using the destructive spree by Islamic State extremists to lobby against repatriation want to justify discredited practices. “It was only a matter of time before some in the art-collecting community tried to turn this cultural nightmare to their own advantage,” said Ricardo J. Elia, an archaeologist at Boston University. Repatriation is enshrined in international treaties, hailed as the moral response to many decades when Western dealers and museums traded indiscriminately and lawlessly in global relics. Those who balk at the policy have been attacked as apologists for colonialism and “cultural racketeering.” “It has become an article of faith that any form of trade in cul-

at school, she spoke about it on camera. She griped about her wheat allergy and her frizzy hair. “I pretty much grew up on YouTube,” she said. In 2013, the literary agent Mollie Glick paired Ms. McKenzie with a young adult novelist, Alyssa B. Sheinmel, who wrote sample chapters and an outline. A book deal quickly followed. Last spring, Weinstein bought a partial manuscript — in a two-book deal for something more than $100,000 — and separately optioned screen rights. The company recently bought a third book. “When we saw the enthusiasm building from booksellers, we reached out to the agent to get a third book going,” said David Steinberger, president and chief executive of the Perseus Books Group, which includes Weinstein Books. As Ms. McKenzie prepared to meet many of her fans in the flesh for the first time on an 11-city book tour, she seemed comfortable as the face of a new franchise. But she was also careful not to take too much credit. When asked about her writing process, Ms. McKenzie readily acknowledged that Ms. Sheinmel did the bulk of the writing. “I can’t do this by myself, are you crazy?” Ms. McKenzie said. “I’ve never written a book. I don’t know how to do that.”

REUTERS

tural items is bad,” said Timothy Potts, the director of the J. Paul Getty Museum in Los Angeles. But Mr. Potts and other antiquities experts say pillaging by the Islamic State, also known as ISIS or ISIL, and by other radical groups, undermines that orthodoxy. Prominent among them is James Cuno, president of the J. Paul Getty Trust, which operates the Getty Museum. Known for his belief that important antiquities should be treated as the common property of mankind, Mr. Cuno has in recent months published an article in the quarterly magazine Foreign Affairs and a letter in The New York Times arguing that wholesale repatriation threatens the cultural heritage of the very countries it supposedly benefits.

“Calamity can happen anywhere, but it is unlikely to happen everywhere at the same time,” Mr. Cuno said in an interview. “I say ‘distribute the risk,’ not ‘concentrate it.’ ” Others have spoken up, too. Abdulrahman al-Rashed, a Middle Eastern commentator with MBC Group, a broadcasting network in Dubai, surprised many with a newspaper op-ed declaring that recent depredations “prove we do not deserve these treasures that fill our museums and lie buried beneath our sands.” The mayor of London, Boris Johnson, cited events in Iraq and Syria to justify the removal two centuries ago of the Elgin marbles, now at the British Museum, from the Parthenon in Greece. Repatriation supporters say

they find it dispiriting to be re-engaged in a debate that was largely won. “Iraq might be the hot spot today, but there is no reason to think New York will not be one tomorrow,” said Tess Davis, a lawyer and expert on looted artifacts with the Antiquities Coalition, which favors repatriation. “The 3,000-year-old statues now threatened in Iraq have seen a lot of empires come and go.” Alexander A. Bauer, an anthropology professor at Queens College in New York, said he disagreed that the best response to events in Syria and Iraq was “to increase the collection of artifacts by the West à la the 19th century.” “This is a dangerous reaction, I think,” he said. But Peter Tompa, a collector of ancient coins and a former vice chairman of the American Bar Association’s Art and Cultural Heritage Law Committee, said he agreed with a colleague who told him, “If the people of these lands are indifferent and even hostile to their ‘cultural heritage,’ what’s the point in reserving it for them to ignore or destroy?”

Business | Money Line

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Naira’s weakness may persist under Buhari – Analysts

AILING The naira will struggle under the in-coming government Tony Chukwunyem

he peaceful out come of the presidential polls a fortnight ago may have resulted in an immediate appreciation of the naira against the US dollar on the parallel market but the local currency will likely continue to struggle under the incoming administration, analysts at Financial Derivatives

Company Limited (FDC) have predicted. The FDC’s Chief Executive Officer, Mr. Bismarck Rewane, made this forecast in the monthly economic news and views presentation to the Lagos Business School (LBS). The firm also predicted that under the next government, the Central Bank of Nigeria (CBN) might abandon its policy of a stable naira.

According to the FDC, some of the challenges that the President –elect, Muhammadu Buhari will face in addition to a weak naira include: resistance from the outgoing administration, “as patronage networks is dismantled”; politicisation of economic policy, which will hinder his government’s reform agenda and the manner in which he handles the war against Islamic fun-

damentalist in the North West. The firm further stated that the government’s “economic policy pronouncements are likely to be ambitious.” Significantly, the FDC identified allowing the naira to find its true value and reducing interest rate as well as easing monetary policy stance as some of the issues that should be top priorities for the

Sterling Bank holds 53rd AGM April 30

terling Bank Plc will holds its 53rd Annual General Meeting (AGM) on Thursday April 30, 2015 at Eko Hotel & Suites, Plot 23, Adetokunbo Ademola Street, Victoria Island, Lagos at 10.00 a.m. The Bank in a statement signed by the Company Secretary, Mrs. Justina Lewa said the directors of the Bank at the AGM will receive the audited financial statements for the year ended 31st December, 2014, together with the reports of the Directors, Auditors and the Audit Committee; declare a dividend; elect/

re-elect directors; approve the remuneration of the directors; authorise the directors to fix the remuneration of the auditors and elect members of the Audit Committee. Key extracts of the audited report and accounts of the Bank for the year ended December 31, 2014 released penultimate week at the Nigerian Stock Exchange (NSE) showed appreciable growth in all key performance indices, sustaining the strong performance outlook of the lender in spite of industry-wide headwinds. For instance, Sterling

Bank announced gross earnings of N103.7 billion and a profit before tax of N10.7 billion, an increase of 13 percent and 15.4 percent over its 2013 figures respectively. Major highlights showed that net interest income leapt by 20.1 per cent to N43.0 billion in 2014 as against N35.8 billion recorded in 2013. This was driven mainly by an 11.4 per cent growth in interest income to N77.9 billion, which far outweighed the 2.2 per cent increase in funding costs to N34.9 billion. This underlined the increasing cost effi-

ciency of the lender as cost of funds dropped from 6.1 per cent in 2013 to 5.3 percent in 2014. Similarly, non-interest income grew by 18.3 per cent from N21.8 billion in 2013 to N25.7 billion in 2014. This was boosted by 82.2 per cent growth in net trading income to N6.8 billion. The Bank continued to strengthen its mid and bottom-line performances as its increasing focus on cost reduction credit risks management and operating efficiency cushioned macro headwinds and retained value for shareholders.

Economic Indicators N16,833,244.57 N16,509,472.5m 8.2 0.0000 13 10.899 7.96 17.01 US$61.39 US$29,778,223,398

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

Bid 12.10 12.10 12.05

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

Interbank rates surge as CBN withdraws N72bn from banks

vernight lending rates rose sharply last Friday to 27 per cent from 10.25 per cent the previous week, following a scramble for funds as banks sought to meet a Central Bank of Nigeria (CBN) Cash Reserve Requirement (CRR). The CBN was expected to withdraw about N72 billion from commercial banks to enforce its CRR on April 16, triggering a surge in demand for funds on the interbank market. The apex bank requires commercial lenders to set aside 75 per cent of public sector and 15 per cent of private sector deposits in cash in

Dec, 2014 Dec, 2013 Feb, 2015 2/5/2014 24/2/2015 11/6/2013 Dec, 2013 Dec, 2013 24/2/2015 1/4/2015 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

May.” The naira, which had been trading at the parallel market between N210 and N225 to a dollar since January this year, closed at between N200 and N200 penultimate weekend. Dealers attributed the local currency’s appreciation to the peaceful outcome of the March 28 presidential elections, which, according to them, caused politicians to dump dollars that they had stockpiled for fear of political violence in the market.

their respective accounts with the regulator. “Demand for funds was very high ... in anticipation of the CRR debit on Thursday,” one dealer said. The secured Open Buy Back (OBB) rate closed at 27 per cent as liquidity thinned out, from 9 per cent the previous week, four percentage points below the central bank’s benchmark interest rate of 13 per cent. Traders said the liquidity shortage was compounded by lack of cash flow to the banking system because there were no Treasury bills maturing during the previous week.

Bond yields to fall on election outcome

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

new government. The FDC specifically predicted that in the month of April, “Naira appreciation in the market will reverse (and) at the parallel market, the naira will trade at N215N220 against the dollar again.” It also predicted, “Draw downs on state government bonds in April &

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

ahead of the auction to enable them take fresh positions. “Counterparties expect this week’s auction yields at 15-15.5 percent levels, so they are selling off all the positions they had bought at low levels so they can buy at auction,” a senior dealer said. At the previous auction, the debt office sold the five-year paper at 16.49 per cent, 10-year at 16.84 percent and the 20-year bond was sold at 16.99 percent. Yields at the secondary market have risen across the board as investors take profit ahead of the auction.

World Bank forecasts low growth for Sub-Saharan Africa

Money Market Offer 11.85 11.85 11.80

ields on Nigerian debt could fall by around 100 basis points this week amid an anticipated surge in demand as the rally sparked by the peaceful outcome of the March 28 presidential elections continues. Yields on government bonds have fallen sharply since opposition leader Muhammadu Buhari was announced winner of the elections. The Debt Management Office (DMO) has said it plans to raise N70 billion in bonds with maturities ranging between five and 20 years on April 15. Traders said some investors are selling off at the secondary market

Offer 163.5000 Source: FMDQ

ub-Saharan Africa’s growth will slow in 2015 to 4.0 per cent from 4.5 per cent in 2014, according to the World Bank projections. According to a World Bank Report to be released in Nairobi today, the downturn largely reflects the fall in oil prices and other key commodities in the region.

The slowing Gross Domestic Product (GDP) forecast represents the first time that Africa is expected to post a growth rate below the 4.4 percent annual average growth rate of the past two decades; short of the average peak growth rates of 6.4 percent in 2002-2006, said the latest report - Africa’s economic update.

Business | News

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Stakeholders want NITEL’s landline revived TARIFF REDUCTION The return of effective landline telephony is expected to reduce telecoms tariff by 40% Kunle Azeez

ollowing the payment of the 70 per cent balance of the bid price for the acquisition of the assets and business units of the Nigeria Telecommunications Plc (NITEL) and its mobile arm, Nigerian Mobile Telecommunication (MTEL) by NATCOM Consortium, key stakeholders have tasked the new owners to resuscitate the landline telephony in the country. Association of Telecoms Companies of Nigeria (ATCON) and the National Association of Telecoms Subscribers (NATCOMS) made the call in separate phone interview with New Telegraph. ATCON President, Mr Lanre Ajayi, said that it was reassuring that NATCOM Consortium was ready for business with the payment of the second tranche of the bid price, having paid 30 per cent of the money three months ago. Its coming will surely increase the capacity of the national network in the country, which we believe will result in service quality. NITEL also has the opportunity to venture into the process of resuscitating landline network, which has almost been relegated to the background by the mobile telephony. He said: “NITEL has robust infrastructure for landline, which the new owners now have inherited. By this, we are talking of ample Right of Way (RoW), the manholes, the cables and the ducts. “So, it is expected that the new owners have access to all these resources to roll out the landlines,” he said. He, however, stated that with the new owners, NITEL is no longer a government enterprise but a private enterprise, which does not have any special advantage in terms of rollout over the existing private telecoms networks in the country. “Consequently, the new NITEL will also need to wade through the

same challenges such as multiple taxations and vandalism, among others, in rolling out its services,” he said. Lanre, therefore, called on the Federal Government to accelerate measures in addressing some of the currently operating stumbling blocks for the telecoms operators in the country. He also urged government to pass necessary laws, as may be deemed fit, to curb cases of vandalism and accord telecoms facilities Critical

National Security Infrastructure status. Also, President of NATCOMS, a consumer rights group, Mr. Deolu Ogunbanjo, who commended the new NITEL buyer for coming on board as another telecoms operator, said: “As a national carrier, we expect to see the return of landline. I expect the return of the landline calls to Nigerians. Usually, anywhere in the world, landline is always almost 40 per cent cheaper than the nor-

mal mobile lines that all of us are not used to in Nigeria. “People will also now be able to access highspeed Internet services through their landline phones,” he added. Nigeria currently has an unimpressive number of fixed wired/wireless lines (landlines) in the country due to the poor focus of operators with landline licence in that area. Also, fixed lines operators, specifically licensed by the Nigerian

Communications Commission (NCC) to provide the services, have gone under with majority now declared as inactive by the regulator. According to the latest official data from the NCC, while the Global System for Mobile Communications (GSM) operators, such as MTN, Globacom, Airtel and Etisalat have 138.5 million active lines on their networks, the Code Division Multiple Access (CDMA) operators have 2.1 million while land-

lines were 182,693. The Bureau of Public Enterprises (BPE) had, last week, confirmed that NATCOM, the preferred bidder for NITEL and MTEL assets, had paid the balance, but said he could not confirm the amount because he was out of town. NATCOM Consortium had, in January this year, paid $75.75 million, which is about N12.7 billion being 30 per cent of the $252.5 million bid price for the acquisition of the assets.

Business |Stock Watch

NEW TELEGRAPH MONDAY, APRIL 13, 2015

HARSH TIMES

Share price movement of Berger Paint Nig Plc

Low disposable income reduces consumption pattern

2014

Chris Ugwu

ust like any other sector of the economy, security challenges in some part of the country – especially in the North East, with the attendant consequences on loss of lives and properties, including the erratic power supply and poor infrastructures among others, have remain a thorn in the operating environment for businesses. In spite of the fact that the paint industry in Nigeria has been facing a lot of challenges such as high cost of raw materials due to the importation of the raw materials, low disposable income of consumers remained a major challenge to paint manufacturers in Nigeria. The combination of these factors have compelled many paint companies listed on the Nigerian Stock Exchange (NSE) to contend with low consumer demand as their products are not considered by consumers as a priority because of the consumers’ low disposable income. While some of its peers like Chemical and Allied Products (CAP) Plc and Portland Paints Plc have shown good numbers, Berger Paints Nigeria Plc was not insulated to harsh operating environment, as its 2014 financial year results and share price movements have remained susceptible to the challenges facing the manufacturing businesses in Nigeria. The company’s bottom-line had soared during the financial year ended 2013, but dwindled in the third and fourth quarters of 2014. Market watchers attributed this development to stiffer competition and lack of accessibility to key markets in the Northern part of the country coupled with increased financing cost, which have resulted in slow growth of many fast moving consumer goods. However, a market sentiment for the shares of the company has remained firm not only on the back of improved product rebranding but also on increased market penetration. Stockbrokers attributed investors’ sustained confidence in the stock to continued sales; marketing and distribution efforts as well as its strong presence across Nigeria. The share price, which closed at N10.00 per share in April 30 2014, recorded a drop in growth. At the close of business last Friday, the company’s share price stood at N9.49, a decrease of 51 kobo percent or 5.3 per cent year to date. Corporate profile Founded on the 9th of January 1969, Berger Paints Nigeria Plc is a leader in the manufacturing, development, distribution and sale of paints and coatings to professional, Industrial, commercial and retail customers in Nigeria. It operate in five business

May 30

N10.00

Jun 30

N9.00

Jul 31

N8.60

Aug 31

N9.00

Sept 30

N8.60

Oct 31

N8.00

Nov 30

N8.70

Dec 31

N9.00

2015

Chairman, Berger Paints Nig Plc, Oladimeji Alo

Berger Paints: Weak sales squeeze earnings segments; decorative, industrial coatings, marine and protection coatings, automotive/ vehicle refinishes and wood preservers and finishes. Its portfolio includes well known brands such as Luxol,Texcote and Superstar. With 18 depots, colour world centres and a countrywide distribution network of dealers/ distributors in strategic locations spread throughout the country, Berger Paints remains at the forefront of the paint and allied industry in Nigeria. Its commitment to manufacturing and supplying quality products; earned it ISO 9001.2008 Quality Management System Certification. In 2012, Berger Paints entered into a partnership arrangement with the biggest paint company in South Korea, KCC to jointly serve the Nigerian paint and coating market. The partnership affords its customers the quality and durability that Marine and protective market have found synonymous with the KCC brands. Berger Paints has demonstrated its commitment to its consumers for over 53 years, by offering its varied range of high performing quality products backed by highest level of

customer service.

The company’s bottom-line had soared during the financial year ended 2013, but dwindled in the third and fourth quarters of 2014

Financials Berger Paints had ended the 2013 financial year on an impressive note, as it posted a 33 per cent growth in profit for the financial year ended 2013. The unaudited financial result of the company showed a growth of profit before tax of N379 million in 2013 as against N285 million recorded in the comparable period of 2012, representing an increase of 33 per cent. Operating income also grew by 33 per cent, from N154 million in to N205 million, while turnover equally rose to N2.709 billion from N2.691billion. The company also commenced the 2014 year in a positive note, recording a 37.3 per cent growth in its pre-tax profit for the first quarter ended March 30, 2014. In filings with the Nigeria Stock Exchange (NSE), the company’s pre-tax profit firmed up by 37.7 per cent to N70.384 million in the Q1 of 2014 from N44.145 million in the preview period of 2013. Also, post-tax profit increased 37.3 per cent in the first quarter of 2014 as the company declared N47.861 million com-

Jan 31

N9.00

Feb 28

N9.00

Mar 13

N8.00

Apr 2

N9.49

pared with N30.018 million reported in same period of 2013. However, revenue dropped marginally by 3.09 per cent from N606.042 million in the Q1 of 2013 to N587.852 million in the review period of 2014. The profit line continued during the half year as the company posted 6 per cent growth in profit after tax. Its half-year net earnings rose from N100.874 million in 2013 to N107.438 million accounting for an increase of 6 per cent. The company’s pre- tax profit equally rose to N157.999 million, up 6 per cent from N148.344 million in the same period last year. However, the paint maker’s dwindling fortune began in the third quarter of 2014, as earnings were compressed by weak sales leading to a dip in pre-tax profit by 41.2 per cent during the nine months ended September 30, 2014. The company in a filing with the Exchange said its third quarter net earnings decreased from N154.464 million in 2013 to N109.407 million, accounting for a drop of 41.2 per cent. Its pre- tax profit equally fell to N160.892 million, down 41.2 per cent from N227.15 million in the same period last year. Turnover decreased by 5.7 per cent to N1.817 billion during the nine months to September 30 from N1.921 billion recorded during the comparable period of 2013. Berger Paints ended the 2014 financial year with a 27.3 per cent decline in profit before tax. The company’s pre-tax profit dropped from N342.7 million in 2013 as against N249.2 million during the period under review. Profit after tax equally fell by 42.2 per cent to N148.8 million from N257.5 million a year earlier. Outlook Addressing stockbrokers and investment community at the company’s fact behind the figures, the immediate past Managing Director, Berger Paints Nigeria Plc, Mr. Tor Nygard, noted that with the aim to regain its dominance in Nigeria and reach out to other markets in West Africa, plans have been concluded by the company to build a fully

Insurance

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Nigerian underwriters taking global step on Takaful PENETRATION Local operators set to benefit more from international exposure Sunday Ojeme

n a bid to further sell the industry to the world, some Nigerian insurance practitioners will be joining their counterparts all over the world today and tomorrow to engage on the pressing issues not only in the established centres for Takaful, but also in the merging high-potential markets for Shari’ah compliant insurance. Global exposure Industry leaders from the Middle East, South East Asia, Africa and beyond are set to gather in Dubai for the 10th Anniversary Special Edition of the World Takaful Conference. Holding under the theme, “Revitialising the Industry: A New Way Forward for Takaful,” the WTC 2015 will set the stage for discussions that will strive to improve the competitive performance of takaful players and will also seek answers to questions such as the increasing product demand based on consumer demographics, rising income levels and an increasing appetite for shari’ah-compliant products. Local consolidation Nigerian insurance regulator, the National Insurance Commission (NAICOM), had two years ago, released the guidelines for Takaful as part of the nation’s drive for financial inclusion and the need to enhance insurance penetration especially among core Muslims who resent profit taking in any form of investment. Prior to releasing the guidelines, the Commissioner for Insurance, Mr. Fola Daniel, had said that the insurance model would be taken as a concept and not just a product. He said, “The reason we are taking Takaful insurance seriously now is because the insurance gap in our domain is endemic, problematic and we seemed not to have a solution. But we have found a way out now, one of which is Takaful insurance. “Rather than allowing people to see Islamic insurance as being designed only for the Muslim population, Christians and any other person would patronise Takaful insurance products by the time they understand what

the concept is all about. “If you make people to understand what Takaful is all about and that it has a prospect of returning part of their premium at the end of the year, many people will buy into it. It is not about religion, it is about a way of sharing risks.” Reasons for Takaful Islamic faithful, who had waited patiently for the birth of Takaful in the country, believe that the new underwriting arrangement will enhance insurance penetration especially in the grassroots as core Muslims would be compelled to patronise the industry. They contended that the structure, on which the conventional insurance is built, apart from being weak, also negates the core principles of Islamic injunction. In his view, an official of the Kaduna State Chamber of Commerce, Industries, Mines and Agriculture, Alhaji Ahmed Rabiu, said that the weak structure under which the conventional insurance institutions are built was partially responsible for the downturn in global economy, stressing that the conventional insurance was being operated on fake foundation. He said, “Imagine somebody has a property worth N1billion and he is paying a premium of N7million or N8million. If anything suddenly happens to that property, where is the insurance company going to get that money from, may be they run to the bank. I know the arrangement is such that a lot of people take covers so other people’s money would be available to cover it and disasters do not happen to everybody at the same time. “Insurance as it is practised in the West, which is what we copy here, is built on fake foundation. People should embrace Islamic insurance. It is the way out. What we have suffered over the years is as a result of building all our institutions on weak foundations. That is why they are collapsing. If Takaful takes off today, it is not only the Muslims or northerners that will invest in it. In Malaysia, it is not only Muslims that are involved in it, Christians also believe in it and they are all enjoying it. Stakeholders’ opinion Also lending his voice in support of Takaful, a lecturer in the Department of Banking and Finance, University of Abuja, Mr. Yekeen Abdul-Maliq, said the insurance model had nothing to do with Islam, except that it is based on Islamic injunction.

Daniel

Insurance as it is practised in the West, which is what we copy here, is built on fake foundation

He said, “Islamic injunction is essentially the Law of Moses, and then when you talk about Sharia, you are talking about the Law of Moses. When we hear Islamic banking or Islamic insurance, we believe it must be Islamic, even Muslims believe so, Christians too believe so. But that is as a result of misinformation and most of us are not willing to read. “Both northerners and southerners will accept Islamic insurance. There are a lot of Muslims in the south as a result of that they will even buy into the insurance business.” He reiterated the fact that Islamic banking prohibits charging of interest which is the core of modern banking, stressing that in the case of Takaful, no stakeholder is supposed to benefit beyond a certain level by way of profit apart from insuring yourself. Abdul-Maliq said, “Insurance in Islam is to make provisions for essentials either while you are alive or while you are no longer there. Insurance itself has an Islamic origin, when one suffers a loss, then people come together and uplift him out of the predicament. “That is the essence of insurance and as a result of that you

make premium payment with a group of people so that they could share or participate in the loss of other people or benefit from that contribution when they incur loss. By so doing you are not supposed to make profit either as the insurance company or as the insured from that transaction. It is not supposed to be a buy and sell activity.” He, however, clarified that the transaction does not stop the person from investing the premium so received in lawful businesses. “In Takaful, it must not be on interest basis. If you are insuring property, you do not insure with a view to make profit either as the insured or as the insurer. “When we talk about Islamic banking or Islamic Insurance, we are saying that it everything you do as the banker or as the insurer must be Sharia compliant. If I am not sure that is Sharia compliant and I am partaking, then I am already breaching my code as a Muslim. It is just like financing the production of pork or pig and I know and I continue to keep my deposit with you because you call yourself Islamic Banking or Islamic Insurance, it will be wrong. Speaking in the same vein, the Chief Executive Officer, Metropolitan Skills, a capacity building institution, Hajiya Ummuhani Amin, said the prevalence of unbanked population in the northern part of the country is because there were no institutions to meet their investment belief. She said, “In the north, everybody is looking forward to a financial institution where you can invest funds otherwise they will not take it to any bank or insurance company because the conventional financial institutions have elements of uncertainty, which is against Islamic principles. “It is only Takaful that can meet the expectations of the people. It will be excellent for us. For example, I am from Maiduguri. Over there, nobody is willing to insure what he has with conventional insurer but when you say it is Islamic and Sharia compliant, they will key into it. I believe Takaful will mop up funds from the grassroots. However, in the face of the euphoria greeting the introduction of the insurance model, some experts still believe that it is going to meet with a few challenges that may not be healthy for its smooth operation as it is in Muslim dominated countries. Nigeria is a country where people guard their faith jealously and will not have anything to do with the other person’s faith.”

Business | Insurance

NEW TELEGRAPH MONDAY, APRIL 13, 2015

CONFIDENCE In-coming government to attract more investors Sunday Ojeme

oremost French insurance outfit, which recently made inroads into Nigeria, AxA, has commended the Nigerian authorities for the peaceful conduct of presidential election, saying the process is a boost to African economy. “We think that political stability and the respect of democratic rules in this vote can only consolidate development potential in Nigeria and other African countries,” JeanLaurent Granier, head of AxA’s global property and casualty business – or short-term insurance -- said in an interview. “We are not making a political interpretation of this outcome,” Granier said. “This reinforces and confirms our will to grow in Nigeria.” AxA has disposed of 8.9 billion euros ($9.7 billion) of assets in developed markets since 2010 to invest in faster-growing nations, including African markets. In December, it spent 198 million euros to buy a majority stake in Mansard, Nigeria’s fourth-largest insurer. Last month, Parisbased AxA completed the purchase of a 7.2 per cent stake in pan-African reinsurer, Africa Re, for $61 million. The victory by Buhari,

Nigeria’s election process a boost for African economy, says AxA 72, marked the first time an opposition candidate beat a sitting president since independence from the U.K. in 1960. And while more than 80 people were killed during the election campaign, according to the European Union, and there were some allegations of rigging, most international and local observers called the vote relatively free and fair. ‘Catch Up’ Insurance penetration in Nigeria, as measured as a percentage of premiums to gross domestic product, was 0.68 per cent in 2012, according to a KPMG report in August. That compares with a 3.5 per cent average for Africa and 15.4 per cent in South Africa, the continent’s biggest insurance market, according to figures from PriceWaterhouseCoopers in October. Insurance premiums tend to increase faster than economic growth in Nigeria and African countries, as companies and households adjust their coverage to “catch up” with rising living standards, Granier said. “The corporate insurance market was first to develop and now the market for individuals is opening,” he said. Health insurance products sold through corporate or individual policies, car-insurance needs and microinsurance initiatives are

contributing to insurance expansion in Nigeria, as in other fast-growing African markets, he said. Building Collapses Nigeria has about 60 registered insurance companies, according to the national regulator. Among factors that companies should incorporate into risk models when underwriting in Nigeria is

the unusually high number of building collapses, PwC said in a March 30 report. In the last 12 years, an estimated 30 buildings have collapsed, it said. Mansard has increased annual revenue by more than 20 per cent in “these last years and this company can keep having high growth,” Granier said, without giving a target for this year.

The stake in Africa Re will allow AxA to get a “more complete understanding on insurance markets’ evolutions across the whole continent,” Granier said. “We’re selecting places where we want to go because we think a country has critical size and is ready for development of insurance.” Before, its Nigerian ac-

quisition, Axa had operations in six African countries, including Morocco and Senegal, which contributed 436 million euros to revenue last year. AxA is studying opportunities to enter other African countries through acquisitions or by starting new businesses, Granier said, adding, “Countries like Kenya can interest us, Ghana too,” he said.

L-R: Head, PR/Events Manager, Dufil Prima Food Plc, Mr Tope Ashiwaju; winners, Josua Ogboko; Oreoluwa Adamo and Brand manager, Dufil Prima Food Plc, Mr. Amber Yadav, during the prize presentation for winners of Indomie Indomitable Stickers Promo in Lagos. PHOTO: SULEIMAN HUSAINI

Continental Re launches pan-African journalism awards ontinental Reinsurance Plc has launched Africa’s first pan-African insurance and reinsurance Journalism Awards. Journalists from every African country are invited to participate in the Continental Reinsurance Journalism Awards 2015. A statement by the company said the journalism awards was initiated to improve and develop insurance and reinsurance reporting in Africa and to encourage journalists to develop their knowledge and expertise, as well as recognise the outstanding work of journalists from across Africa. The Group Managing Director of Continental Reinsurance, Dr. Femi Oyetunji, said: “The insurance and reinsurance sector has a valuable role to play in Africa’s economic growth and development

and we want to recognise the respected contribution of the media to the sector’s growth. “The awards are an extension of our continued commitment to the advancement of excellence in the industry.” The statement added that as Africa’s largest private reinsurer outside of South Africa, Continental Reinsurance is very committed to advancing the re/ insurance sector in Africa. The company also offers training sessions across Africa on various aspects of the industry and invites journalists to attend the training in their region. The four categories in the 2015 Awards are Best re/insurance feature article, Best re/insurance news reporting, Best re/insurance industry analysis and commentary and PanAfrican reinsurance journalist of the year award

NAICOM queries AIICO, CHI, others PENALTY Underwriters face sanctions for flouting regulatory procedure

Sunday Ojeme

ollowing their failure to submit comprehensive financial results for the year 2014, the National Insurance Commission (NAICOM) has queried five insurance companies while that of six others are undergoing review. According to the regulator, responses are being awaited from AIICO Insurance Plc, Consolidated Hallmark Insurance, UBA Metropolitan Life, Zenith Life Assurance as well as Zenith General Insurance on the queries extended to them by NAICOM. A statement posted on the regulator’s wbsite titled ‘Status of 2014 Financial Statements of Insurance Companies as at 8th April 2015, revealed that while six others are having their results re-

viewed, six others are yet to submit their 2013 audited results to the commission. The ones, whose accounts are going through review process include Prestige assurance, Continental Reinsurance, Mutual Benefits General Insurance, Royal Exchange Prudential Life, ARM Life and NSIA Insurance. The underwriters that are yet to submit their 2013 audited results include Alliance and General Insurance, Alliance and General Life Assurance, Goldlink, NICON Insurance, Springlife Assurance and UNIC Insurance. At the time some insurance firms are seeking approvals for their 2014 financials, seven others are yet to file their 4th quarter results with the National Insurance Commission (NAICOM), as they are still battling to put the results in order. According to NAICOM, these firms are: NICON Insurance plc; Lasaco Life Assurance Limited; Union Assurance Limited. Others are Alliance &

General Insurance; Alliance &General Life Assurance; Goldlink Insurance; Investment & Allied Insurance and Spring Life Assurance. In the interim, eight underwriting firms have had their 2014 financial statements approved. The successful firms include Wapic Life Assurance, Wapic Insurance, Custodian & Allied, Custodian Life Assurance and Law Union and Rock. Others are Mansard, FBN Insurance and Oasis. In the same vein, eight others have also fallen short of regulation by failing to forward their fourth quarter returns as at April 9, 2015. With the introduction of the International Financial Reporting Standard (IFRS) into their accounting system, some of the underwriters have been struggling to put their accounts in order before getting approval from the commission to proceed with the declaration of their results. The penalty by NAICOM for failure to meet deadline stands at N5,000 per day from June 30 being the annual deadline.

Business | Financial Market News

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

10-Apr-15

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds

FGN Bonds Issuer

Rating/Agency

TOTAL OUTSTANDING VALUE

Description 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 15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Price

Offer Price

23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

535.00 581.39 476.80 20.00 100.00 300.00 351.30 233.90 54.00 600.00 499.68 75.00 150.00 200.00 591.57 254.50

23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

0.04 1.35 2.05 2.30 2.39 3.14 4.22 4.54 4.84 6.80 8.93 13.64 14.12 14.61 15.29 19.27

9.79 14.90 14.85 14.85 14.85 14.88 14.91 14.89 14.86 14.75 14.68 15.48 15.59 15.72 15.18 14.64

5.65 14.77 14.76 14.76 14.77 14.75 14.81 14.78 14.77 14.68 14.62 15.42 15.53 15.64 15.11 14.58

99.79 97.76 100.41 90.51 89.24 89.78 103.26 74.63 102.22 106.83 97.63 97.27 82.46 59.10 69.50 84.08

99.94 97.91 100.56 90.66 89.39 90.08 103.56 74.93 102.52 107.13 97.93 97.57 82.76 59.40 69.80 84.38

Bid Yield (%) Offer Yield (%)

5,023.13

TOTAL MARKET CAPITALISATION Rating/Agency

Price

4,631.41 Issuer

Agency Bonds FMBN ***LCRM

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.12 1.11 1.66 2.03 2.24

2.63 2.27 2.00 1.00 2.85

14.11 17.25 16.87 15.84 17.70

98.27 100.07 98.71 100.71 94.14

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 10-Oct-20 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21

0.39 0.47 0.75 0.75 2.03 1.29 2.73 2.10 2.12 2.10 2.10 2.29 2.73 4.62 2.69 3.39 5.63 5.73 3.39 3.42

4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.44 1.00

18.93 18.01 19.40 18.42 15.84 15.93 16.65 16.64 15.85 15.84 19.62 15.85 15.86 15.88 15.86 15.89 15.79 15.78 16.33 15.89

97.58 97.78 96.40 97.99 90.20 97.54 94.31 95.59 96.85 97.71 91.06 99.31 99.22 95.55 97.69 97.20 91.60 97.04 95.56 97.77

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 01-Apr-19 14-Nov-20 30-Dec-21 30-Sep-24 30-Sep-24

0.36 0.41 0.50 1.47 1.54 2.47 1.49 1.75 1.92 1.92 3.45 1.77 2.10 2.73 5.60 6.72 9.47 9.47

1.00 1.00 2.63 1.00 1.34 1.00 1.88 1.00 1.00 1.00 1.00 2.29 6.11 2.16 2.76 1.13 1.00 1.00

15.36 15.57 17.49 15.89 16.22 15.85 16.76 15.86 15.85 15.85 15.89 17.15 20.95 17.02 17.56 15.83 15.67 15.67

98.17 98.58 98.40 96.33 97.39 94.33 102.27 100.22 103.28 100.19 95.11 98.05 95.39 97.86 91.94 102.44 81.82 88.25

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

317.44

Sub-National Bonds A/Agusto A-/Agusto BBB+/Agusto ‡ /Agusto A+/Agusto; ‡ /GCR ‡ /Agusto ‡ /Agusto ‡ /Agusto; A+/GCR ‡ /Agusto; A-/GCR ‡ /Agusto; A-/GCR† ‡ /Agusto ‡ /Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR BBB-/Agusto; A-/GCR BBB-/Agusto Aa-/Agusto; ‡ /GCR A-/Agusto; BBB+/DataPro ‡ /Agusto A-/GCR

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

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 10-OCT-2020 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

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 10-Oct-13 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14

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

8.50 2.16 4.86 5.73 57.00 25.73 25.00 30.81 9.00 13.73 10.20 27.00 15.09 80.00 25.70 11.10 87.50 5.00 4.55 4.56

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

453.20 429.57

Corporate Bonds ‡ /Agusto BBB-/Agusto BB/GCR A+/Agusto; A-/GCR A-/Agusto A/GCR BBB-/GCR Nil A-/DataPro†; B+/GCR AAA/DataPro†; A/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB/GCR Nil A+/Agusto; A-/GCR A/GCR A/GCR A/GCR

*UPDC *FLOURMILLS *CHELLARAMS NAHCO FSDH UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA#{r} NAHCO UBA STANBIC IBTC STANBIC IBTC

10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020 16.45 UBA I 30-DEC-2021 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024

TOTAL OUTSTANDING VALUE

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 01-Apr-14 14-Nov-13 30-Dec-14 30-Sep-14 30-Sep-14

10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.25 16.45 11.93 13.25

2.50 18.75 0.42 15.00 5.53 20.00 0.64 5.40 2.54 0.70 35.00 2.40 0.36 4.50 2.05 30.50 0.10 15.44

161.83

TOTAL MARKET CAPITALISATION

156.67

Supranational Bond AAA/S&P

IFC

Aaa/Moody's; AAA/S&P

AfDB

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.84

1.00

15.87

87.39

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

15.87

83.73

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 21.33 Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.70

5.48

105.10

106.20

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.05

4.73

100.22

101.17

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.97

5.81

102.58

103.62

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,539.50

Corporate Eurobonds B/Fitch; B-/S&P

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

128.80

48.00

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.44

4.53

101.09

103.13

B+/S&P

ACCESS BANK PLC

B/Fitch; B/S&P

FIDELITY BANK PLC

B+/Fitch; B+/S&P

GTBANK PLC

B/Fitch

AFREN PLC II

B+/Fitch; BB-/S&P

ZENITH BANK PLC

B/Fitch; B/S&P

DIAMOND BANK PLC

B-/Fitch; B/S&P

FIRST BANK PLC

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

AFREN PLC III ACCESS BANK PLC II FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.88 MAY 09, 2018

11.32

92.00

09-May-13

6.88

300.00

02-May-18

6.00 NOV 08, 2018

11.89

10.87

87.42

89.81

08-Nov-13

6.00

400.00

08-Nov-18

10.25 APR 08, 2019

7.54

7.04

95.25

96.78

08-Apr-12

10.25

300.00

08-Apr-19

6.25 APR 22, 2019

39.63

43.63

22-Apr-14

6.25

500.00

22-Apr-19

7.19

96.75

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

8.25 AUG 07, 2020

13.91

13.01

84.24

86.76

07-Aug-13

8.25

300.00

07-Aug-20

6.63 DEC 09, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

13.46

80.00

09-Dec-13 24-Jun-14 23-Jul-14

6.63 9.25 8.00

360.00 400.00 450.00

09-Dec-20 24-Jun-21 23-Jul-21

25.22 12.62 10.12

25.22 12.04 10.12

45.50 85.75 89.50

45.50 88.00 89.50

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.30

10.87

87.88

89.63

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4,760.00 3,839.03

**Treasury Bills^ DTM 13 20 27 34 41 55 62 76

FIXINGS Maturity 23-Apr-15 30-Apr-15 7-May-15 14-May-15 21-May-15 4-Jun-15 11-Jun-15 25-Jun-15

Bid Discount (%) 13.47 13.33 10.25 12.63 13.49 13.34 13.59 13.60

Offer Discount (%) 13.22 13.08 10.00 12.38 13.24 13.09 13.34 13.35

Bid Yield (%) 13.53 13.43 10.33 12.78 13.70 13.61 13.92 14.00

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 27.1667 15.5290 16.8006 17.6867

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

27.17

Tenor

Bid ($/N)

Offer ($/N)

O/N

28.67

Spot 7D 14D 1M 2M 3M

199.08 201.81 202.13 202.87 204.24 205.60

199.18 201.93 202.28 203.37 205.31 207.21

Tenor Call 1M

REPO

Rate (%) 25.00 26.00

^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

TOTAL OUTSTANDING VALUE

14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

14.20 15.00 12.49 8.50 10.00 12.1493

499.68 75.00 150.00 200.00 591.57 254.50

14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

8.93 13.64 14.12 14.61 15.29 19.27

14.68 15.48 15.59 15.72 15.18 14.64

14.62 15.42 15.53 15.64 15.11 14.58

97.63 97.27 82.46 59.10 69.50 84.08

97.93 97.57 82.76 59.40 69.80 84.38

5,023.13

TOTAL MARKET CAPITALISATION

4,631.41

Rating/Agency

Description

Issuer

NEW TELEGRAPH MONDAY, APRIL 13, 2015 Agency Bonds

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

FMBN

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.12 1.11 1.66 2.03 2.24

2.63 2.27 2.00 1.00 2.85

14.11 17.25 16.87 15.84 17.70

98.27 100.07 98.71 100.71 94.14

Business | Financial Market News

NSE, Stanbic IBTC partner on retail bond market ***LCRM

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

317.44

Sub-National Bonds

INVESTMENT WINDOW

A/Agusto A-/Agusto BBB+/Agusto ‡ /Agusto A+/Agusto; ‡ /GCR ‡ /Agusto ‡ /Agusto ‡ /Agusto; A+/GCR ‡ /Agusto; A-/GCR ‡ /Agusto; A-/GCR† ‡ /Agusto ‡ /Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR BBB-/Agusto; A-/GCR BBB-/Agusto Aa-/Agusto; ‡ /GCR A-/Agusto; BBB+/DataPro ‡ /Agusto A-/GCR

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

Stakeholders brainstorm on boosting retail investors’ participation

Stories by Chris Ugwu

trategies on harnessing the huge benefits from retail bonds were the TOTAL OUTSTANDING VALUE TOTAL MARKET thrustCAPITALISATION of a workshop organised Corporate Bondsby Stanbic IBTC ‡ /Agusto *UPDCin colStockbrokers Limited, BBB-/Agusto *FLOURMILLS laboration with the Nigerian BB/GCR *CHELLARAMS A+/Agusto;Exchange A-/GCR Stock (NSE). NAHCO A-/Agusto FSDH Officer The Chief Executive A/GCR BBB-/GCR Nil A-/DataPro†; B+/GCR AAA/DataPro†; A/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB/GCR Nil A+/Agusto; A-/GCR A/GCR A/GCR A/GCR

UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER#

of the Exchange, Mr. Oscar 12.50 KADUNA 31-AUG-2015 Onyema highlighted some of 13.00 EBONYI 30-SEP-2015 the measures that have been 14.00 BENUE 30-JUN-2016 taken15.50 to strengthen IMO 30-JUN-2016 the capital 10.00 LAGOS 19-APR-2017 market, which includes its de13.75 BAYELSA 30-JUN-2017 rivatives. 14.00 EDO 31-DEC-2017 14.00boss, DELTA 30-SEP-2018 NSE who was repreNIGER II 4-OCT-2018 sented14.00 by the Head of Product 14.50 EKITI 09-DEC-2018 14.00 NIGER IIIat 12-DEC-2018 Management the Exchange, 15.50 ONDO 14-FEB-2019 Mr. Dipo Omotoso, in a state15.50 GOMBE 02-OCT-2019 LAGOS 22-NOV-2019 ment,14.50 described the investment 14.75 OSUN 12-DEC-2019 opportunities in the capital 14.75 OSUN II 10-OCT-2020 market and Nigeria’s 13.50 LAGOS 27-NOV-2020economy 15.00 He KOGI urged 31-DEC-2020 as huge. investors to 14.50 EKITI II 31-DEC-2020 become more active in the retail 15.00 NASARAWA 06-JAN-2021 bonds segment. Chief Executive Officer, Stanbic IBTC Stockbrokers Limited, 10.00 UPDC 17-AUG-2015 Mr. Oladele Sotubo, said the po12.00 FLOURMILLS 9-DEC-2015 sitioning and transformation 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 of Nigeria’s bond market into 14.25 FSDH 25-OCT-2016 a vibrant investment window 13.00 UBA 30-SEP-2017

requires the collaboration of all 31-Aug-10 12.50 stakeholders. 30-Sep-10 13.00 He reiterated the organisa30-Jun-11 14.00 30-Jun-09 tion’s commitment to 15.50 facilitat19-Apr-10 10.00 ing stability and growth of the 30-Jun-10 13.75 Nigerian capital market, via 30-Dec-10 14.00 30-Sep-11 14.00 confidence-building initiatives 04-Oct-11 14.00 and leveraging investment op09-Dec-11 14.50 12-Dec-13 14.00 portunities in the market. 14-Feb-12 “A major objective15.50 in or02-Oct-12 15.50 22-Nov-12 14.50 is to ganising this workshop 12-Dec-12 14.75 enlighten investors and stake10-Oct-13 14.75 13.50 holders27-Nov-13 on the workings of the 31-Dec-13 15.00 bond market and the numerous 31-Dec-13 14.50 benefits06-Jan-14 in investing in 15.00retail bonds in particular. We believe the forum will help in boosting retail investors’ participation in 17-Aug-10 both the primary and10.00 second09-Dec-10 12.00 ary markets, and ultimately , 06-Jan-11 14.00 13.00 bond help to 29-Sep-11 deepen Nigeria’s 25-Oct-13 14.25 market,” he said. 30-Sep-10 13.00

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 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020 16.45 UBA I 30-DEC-2021 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024

30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 14-Nov-13 30-Dec-14 30-Sep-14 30-Sep-14

18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.25 16.45 11.93 13.25

Unilever Nigeria’s Q1 profit falls 21%

UBA *LA CASERA *CHELLARAMS# *DANA#{r}

nilever Nigeria’s 58 per cent to N2.8 billion sales and PBT were up 23 first-quarterNAHCO 2015 from N6.79 billion posted in per cent q/q and 165 per net earnings UBA profit 2013. The top-line revenue cent q/q respectively, PAT STANBIC IBTC fell 21 per cent to N590.448 declined by 43 per cent q/q. STANBIC IBTC as well as increase in operTOTAL OUTSTANDING VALUE ating expenses for the peri- The q/q decline was driven million from N750.629 TOTAL MARKET CAPITALISATION million recorded a year od affected led to a drop in by base effects: a tax credit profits. Profit after tax also of N264 million and other earlier. Supranational Bond 10.20 IFC AAA/S&P However, the company’s fell 79 per cent to11-FEB-2018 N2.4billion comprehensive 11-Feb-13 income of IFC AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P 10-Jul-14 AfDB revenue grew by 8 per cent compared11.25 to N4.7billion re- N448 million, both of which TOTAL OUTSTANDING VALUE ported a year earlier. from N13.834 billion in 2013 boosted PAT in Q4 2014”. TOTAL MARKET CAPITALISATION Earnings per share also to N14.910 billion during They noted that comthe year under review. dropped 49 per cent to 64 pared with theirIssue unrevised Description Rating/Agency Issuer Date Unilever, whose brands kobo from N1.25 posted estimates, while Q1 sales FGN Eurobonds include Dove soap, Wall’s in 2013. Unilever also pro- were broadly in line with 6.75 JAN 28, 2021 07-Oct-11 BB-/Fitch; B+/S&P and Persil deice cream posed a dividend payment their N15.1 billion forecast, BB-/Fitch; tergent, said recently that FGN of 10 kobo per share payPBT missed by 8 per cent. 5.13 JUL 12, 2018 12-Jul-13 BB-/S&P it intends to raise its stake able to shareholders who “Net finance charges, BB-/Fitch; 6.38 JUL 12, 2023 12-Jul-13 BB-/S&P in the Nigerian unit from are included in the register which were ahead of our TOTAL OUTSTANDING VALUE 50.04 per cent to as much before 13-17 Aril 2015. The N292 million estimate by TOTAL MARKET CAPITALISATION as 75 per cent by offering dividend payments repre- 159 per cent were partially to buy shares at a price of sent a paltry 15.6 per cent offset by opex coming in 23 Corporate Eurobonds 11.50 FEB 01, 2016 01-Feb-11what B/Fitch; B-/S&P AFREN PLC I dividend payout. N45.5 per share in cash. per cent softer than 7.50 MAY 19, 2016 19-May-11 B+/Fitch; TheB+/S&P full year 2014 GTBANK finan-PLC I Reacting to the results, we were modeling. Report7.25 JUL 25, 2017 25-Jul-12 B+/S&P ACCESS BANK PLC cials had also showed a analysts at FBN Capital ed sales and PBT came in 6.88 MAY 09, 2018 09-May-13 B/Fitch; B/S&P FIDELITY BANK PLC de-08, 2018 negative route as Unilever slightly behind consen6.00 NOV 08-Nov-13 B+/Fitch; B+/S&P GTBANK PLC said: “We believe the 10.25 APR 08-Apr-12 B/Fitch PLC II valuation of the naira reported revenue of AFREN N55.7 is08, 2019 sus full year estimates of 6.25 APR 22, 2019 22-Apr-14 B+/Fitch; BB-/S&P BANK PLC the major driver behind billion, representing ZENITH a 7 per N60.4 billion and N3.7 bil8.75 May 21, 2019 21-May-14 B/Fitch; B/S&P DIAMOND BANK PLC cent drop from the N60 bil- the gross margin contraclion, given that 07-Aug-13 H2 is typi8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 6.63 DEC 09-Dec-13 lion reported in 2013.AFREN PLC III tion recorded during the09, 2020 cally stronger than the first B-/Fitch; B/S&P 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II Pre-tax profits dropped period. Sequentially , while half,” they said. 24-Jun-14 8.00/2Y USD SWAP+6.488 JUL 23 2021 23-Jul-14 B-/Fitch; B/S&P FIRST BANK LTD B-/S&P

8.75 AUG 14, 2021

ECOBANK NIG. LTD

10.20 11.25

Coupon (%)

6.75 5.13 6.38

11.50 7.50 7.25 6.88 6.00 10.25 6.25 8.75 8.25 6.63 9.25 8.00

14-Aug-14

“As part of the Standard 8.50 Bank Group,31-Aug-15 with a focus0.39 on 2.16 30-Sep-15 0.47 emerging markets, of 4.86 30-Jun-16the focus 0.75 5.73 30-Jun-16 0.75 the sessions was such that they 57.00 19-Apr-17 will provide useful insight2.03 on 25.73 30-Jun-17 1.29 how 25.00 to diversify 31-Dec-17investment 2.73 30.81 30-Sep-18 2.10 portfolios into different asset 9.00 04-Oct-18 2.12 classes. The attractive invest13.73 09-Dec-18 2.10 10.20 opportunities 12-Dec-18 that exist 2.10 ment 14-Feb-19 2.29 in27.00 each market will also be 15.09 02-Oct-19 2.73 80.00 22-Nov-19 highlighted,” he added. 4.62 25.70 12-Dec-19 2.69 Sotubo said as Nigeria’s 11.10 10-Oct-20 3.39 87.50 27-Nov-20 largest stockbroking firm5.63in 5.00 31-Dec-20 5.73 both volume and value of total 4.55 31-Dec-20 3.39 transactions, and stockbroker 4.56 06-Jan-21 3.42 to the Federal Government, 453.20 429.57 Stanbic IBTC Stockbrokers will continuously put in the 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 01-Apr-19 14-Nov-20 30-Dec-21 30-Sep-24 30-Sep-24

0.36 0.41 0.50 1.47 1.54 2.47 1.49 1.75 1.92 1.92 3.45 1.77 2.10 2.73 5.60 6.72 9.47 9.47

250.00

14-Aug-21

11.30

1.00 1.00 2.63 1.00 1.34 1.00 1.88 1.00 1.00 1.00 1.00 2.29 6.11 2.16 2.76 1.13 1.00 1.00

15.36 15.57 17.49 15.89 16.22 15.85 16.76 15.86 15.85 15.85 15.89 17.15 20.95 17.02 17.56 15.83 15.67 15.67

98.17 98.58 98.40 96.33 97.39 94.33 102.27 100.22 103.28 100.19 95.11 98.05 95.39 97.86 91.94 102.44 81.82 88.25

10.87

87.88

89.63

May & Baker records N101m pretax profit

rom a loss position of N11.370 million a year earlier, May & Baker Nigeria Plc has posted a pretax profit of N101.174 million for the full year ended December 31, 2014. Similarly, after tax profit rose by 161 per cent from a negative of161.83 N103 million in 2013 to a posi156.67 tive of N63 million in 2014. This was achieved on a group turn12.00 of N7 billion, 11-Feb-18 2.84 over against N6.3 12.95 01-Feb-21 billion in 2013, a growth of 4.75 10.2 24.95 per cent. 21.33 Cost containment and effiOutstanding cient Value resource utilisation were Maturity Date Bid Yield (%) ($mm) responsible for the positive signals by way of reduced fi500.00 28-Jan-21 5.70 nancing charges, distribution, sales and marketing expenses 500.00 12-Jul-18 5.05 all which combined to deliver 500.00 12-Jul-23 5.97 healthier bottom-line. 1,500.00 Key extracts of the audited 1,539.50 report and accounts of May & Baker for the year ended De450.00 01-Feb-16 128.80 cember 31, 2014 made available 500.00 19-May-16 6.44 by the Nigerian Stock Exchange 350.00 25-Jul-17 11.32 (NSE) showed a growth of 10.2 300.00 02-May-18 11.89 per cent in sales for the group. 400.00 08-Nov-18 7.54 300.00 08-Apr-19 39.63 The company also enhanced 500.00 22-Apr-19 7.19 its operational profitabil200.00 21-May-19 13.91 ity with 16.2 per cent increase 300.00 07-Aug-20 13.46 360.00 sales and 09-Dec-20 while marketing25.22 ex400.00 24-Jun-21 12.62 penses dropped by 3 per cent. 450.00 23-Jul-21 10.12

8.75

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

2.50 18.75 0.42 15.00 5.53 20.00 0.64 5.40 2.54 0.70 35.00 2.40 0.36 4.50 2.05 30.50 0.10 15.44

public domain initiatives and 4.44 18.93could help 97.58 all strategies that 3.23 18.01 97.78 stakeholders, 4.46 19.40especially 96.40 in3.48 97.99 vestors, to be18.42 better informed 1.00 15.84 90.20 about developments in the 1.00 15.93 97.54 capital market, which 1.79 16.65 94.31will 1.80 95.59 help them in 16.64 making the right 1.00 15.85 96.85 decisions. 1.00 15.84 97.71 4.78pursuit19.62 91.06 SoIn of this goal, 1.00 15.85 99.31 tubo said the stockbroking 1.00 15.86 99.22 1.00would organise 15.88 95.55 of firm more 1.00 15.86 97.69 the1.00 training workshops. 15.89 97.20 1.00 workshop 15.79 attracted 91.60 key The 1.00 15.78 97.04 players in the capital market, 1.44 16.33 95.56 including stockbrokers, deal1.00 15.89 97.77 ers, investors, economic analysts and the Central Securities Clearing System Plc (CSCS).

Finance costs also fell by 4.2 per cent. However, finance cost still remains a challenge to the company. It will be recalled that the company was under pressure from financing charges and depreciation allowances as a result of its new pharmaceutical manufacturing plant, which was financed largely by loans during the 2008-2009 capital 1.00 15.87 87.39 market recession. 1.00 15.87 Finance costs rose 83.73 by 34.3 per cent to N630.71 million in 2013 compared with N469.63 million in 2012, Bid while the company Offer Yield (%) Price Offer Price provided about N240 million anPrices & Yields nually in 2013 and 2014 out of 5.48 105.10 106.20 its gross profit for the depreciation of the new pharmaceutical 4.73 100.22 101.17 facility with monthly deprecia102.58 5.81 103.62 tion average of N19.8 million. Depreciation on the new plant started in the second quarter of 2012. 128.80 48.00 had raised 48.00 her May & Baker 4.53 101.09 103.13 capacity to produce more prod11.32 92.00 92.00 ucts with the construction of 10.87 87.42 89.81 the7.04 world-class 95.25 pharmaceuti96.78 43.63 43.63 cal39.63 centre known as the Phar7.19 96.75 96.75 maCentre located in Ota Ogun 13.01 84.24 86.76 State. The facility has80.00 raised 13.46 80.00 May & Baker’s 25.22 45.50production 45.50 ca12.04 88.00 pacity by over85.75 60 per cent. 10.12 89.50 89.50

10-Apr-15

4,760.00 3,839.03

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute **Treasury Bills^ FIXINGS Money Market Exchange (Spot Forwards)the professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate orForeign up to date. We do not &guarantee DTM Maturity Bid Discount (%) Offer Discount (%) Bid Yield (%) Tenor Rate (%) NIBOR accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information. 13 23-Apr-15 13.47 13.22 13.53 FGN

20 27 34 Bonds 41 55 62 Rating/Agency 76 83 97 104 111 118 125 139 146 153 167 174 NA 188 237 251 272 286 300 314 328 342 349

TOTAL OUTSTANDING VALUE

30-Apr-15 7-May-15 14-May-15 21-May-15 4-Jun-15 11-Jun-15 Issuer 25-Jun-15 2-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 NA 15-Oct-15 3-Dec-15 17-Dec-15 7-Jan-16 21-Jan-16 4-Feb-16 18-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16

13.33 10.25 12.63 13.49 13.34 13.59 Description 13.60 13.63 4.00 23-APR-2015 13.57 12.96 ^13.05 16-AUG-2016 13.63 ^15.10 27-APR-2017 13.65 9.85 27-JUL-2017 13.87 9.35 31-AUG-2017 13.69 13.70 10.70 30-MAY-2018 13.60 ^16.00 29-JUN-2019 13.82 7.00 23-OCT-2019 13.89 15.54 13-FEB-2020 13.86 13.06 ^16.39 27-JAN-2022 13.54 ^14.20 14-MAR-2024 13.67 15.00 28-NOV-2028 13.61 12.49 22-MAY-2029 13.59 13.65 8.50 20-NOV-2029 13.72 ^10.00 23-JUL-2030 13.17 ^12.1493 13.52 18-JUL-2034

13.08 10.00 12.38 13.24 13.09 13.34 Issue Date 13.35 13.38 23-Apr-10 13.32 12.71 16-Aug-13 13.38 27-Apr-12 13.40 27-Jul-07 13.62 31-Aug-07 13.44 13.45 30-May-08 13.35 29-Jun-12 13.57 23-Oct-09 13.64 13-Feb-15 13.61 12.81 27-Jan-12 13.29 14-Mar-14 13.42 28-Nov-08 13.36 22-May-09 13.34 13.40 20-Nov-09 13.47 23-Jul-10 12.92 18-Jul-14 13.27

13.43 10.33 12.78 13.70 13.61 13.92 Coupon (%) 14.00 14.07 4.00 14.08 13.46 13.05 14.22 15.10 14.28 9.85 14.56 9.35 14.44 14.49 10.70 14.42 16.00 14.75 7.00 14.87 15.54 14.93 14.27 16.39 14.93 14.20 15.22 15.00 15.23 12.49 15.30 15.47 8.50 15.65 10.00 15.02 12.1493 15.53

Bonds

TOTAL MARKETbonds, CAPITALISATION *for the Amortising the average life is calculated and not the duration

Tenor O/N 1M 3M 6M

Outstanding Value (N'bn)

Rate (%) 27.1667 15.5290 16.8006 17.6867

27.17

Tenor

O/N

28.67

Spot 7D 14D 1M 2M Offer3M Yield 6M 5.65 1Y

REPO

Tenor Call

Maturity Date

TTM (Yrs) 1M 3M 0.04 6M

NITTY

535.00 23-Apr-15 Tenor Rate (%) 581.39 16-Aug-16 1M 11.4950 476.80 27-Apr-17 2M 13.9200 20.00 27-Jul-17 3M 14.0631 100.00 31-Aug-17 6M 14.4428 9M 15.2954 300.00 30-May-18 12M 15.4384 351.30 29-Jun-19 233.90 23-Oct-19 54.00 13-Feb-20 NIFEX 600.00 27-Jan-22 Current Price ($/N) 499.68 14-Mar-24 BID($/N) 199.0250 75.00 28-Nov-28 OFFER ($/N) 199.1250 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 254.50 18-Jul-34

OBB

Rate (%) 25.00

Bid26.00 Yield (%) 27.00 9.79 28.00

Bid ($/N)

(%)

1.35 14.90 14.77 2.05 14.85 14.76 2.30 14.85 14.76 :Benchmarks 2.39Bond 14.85 14.77 * :Amortising µ :Convertible 3.14 Bond 14.88 14.75 AMCON: Asset Management Corporation of Nigeria 4.22 14.91 14.81 FGN: Federal Government of Nigeria 4.54 Mortgage Bank 14.89 14.78 FMBN: Federal of Nigeria 4.84 14.86 14.77 IFC: International Finance Corporation LCRM: Local Management 6.80Contractors Receivables 14.75 14.68 NAHCO: Nigerian Aviation Handling 8.93 14.68 Company14.62 O/N: Overnight 13.64 15.48 Company 15.42 UPDC: UAC Property Development 14.12Africa Portland15.59 15.53 WAPCO:West Cement Company 14.61 15.72 15.64 15.29 15.18 15.11 19.27 14.64 14.58 NOTE:

199.08 201.81 202.13 202.87 204.24 Bid Price 205.60 206.28 99.79 220.29

Offer ($/N)

Price

199.18 201.93 202.28 203.37 205.31Price Offer 207.21 213.47 99.94 226.27

97.76 97.91 100.41 100.56 90.51 90.66 NA :Not Applicable 89.24 89.39 ^ : Market Prices # : Floating Rate Bond 89.78 90.08 ***: Deferred coupon bonds 103.26 103.56 74.93 ‡ : Bond74.63 rating under review †: Bond102.22 rating expired 102.52 N/A :Not106.83 Available 107.13 {r} :Issuer in receivership97.93 97.63 97.27 97.57 NGC: Nigeria-German Company 82.46Bank for Africa 82.76 UBA: United 59.10 59.40 69.50 69.80 84.08 84.38

5,023.13 4,631.41

Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

Rating/Agency

Issuer

Agency Bonds FMBN Modified Duration Buckets

***LCRM

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

Description

Issue Date

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 Porfolio Market Total Outstanding 0.00/16.00 LCRM 08-DEC-2016 Value(Bn) Volume(Bn) 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 1,409.87 1,409.48

Coupon (%)

FMDQ FGN BOND INDEX

24-May-12 03-Apr-12 Weighting by 09-Dec-11 Outstanding Vol 20-Apr-12 42.01 06-Jul-12

0.00 17.25

0.00/16.50 44.56 0.00/16.50

24.56 2.40 Bucket 112.22 Weighting 116.70 66.49 0.42

322.380.33

Weighting by Mkt 0.00/16.00 Value

3<5

1,128.82

1,099.68

32.78

35.68

625.08

846.07

25.22

19.76

3,163.78

3,355.23

100.00

Market

Outstanding Value (N'bn)

0.25

317.441.00

Maturity Date

24-May-15 03-Apr-17

% Exposure_ 08-Dec-16 Mod_Duration

19-Apr-17 19.80 06-Jul-17

Avg. Life/TTM (Yrs)

0.12 1.11 Implied1.66 Yield 2.03 14.89 2.24

# Risk Premium (%)

2.63 2.27

Valuation Yield (%)

104.2405 2.85

14.11 17.25 16.87 INDEX 15.84 1,167.90 17.70

Implied 2.00 Portfolio Price

1.00

Indicative Price 98.27 100.07

YTD Return 98.71 (%)

100.71 5.4210 94.14

38.36

14.71

104.8160

1,045.86

3.2880

41.85

14.99

75.4859

1,060.96

5.3569

100.00

14.86

97.1783

1,098.11

4.0678

Sub-National Bonds A/Agusto A-/Agusto BBB+/Agusto ‡ /Agusto A+/Agusto; ‡ /GCR ‡ /Agusto ‡ /Agusto ‡ /Agusto; A+/GCR

KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA

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

31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11

12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00

8.50 2.16 4.86 5.73 57.00 25.73 25.00 30.81

31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18

0.39 0.47 0.75 0.75 2.03 1.29 2.73 2.10

4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80

18.93 18.01 19.40 18.42 15.84 15.93 16.65 16.64

97.58 97.78 96.40 97.99 90.20 97.54 94.31 95.59

Business | Interview

Managing Director and Chief Executive Officer, Oando Gas and Power, Bolaji Osusanya, has over 27 years experience in the consulting, finance, oil and gas industries. The President, Nigeria Gas Association (NGA), bares his mind on critical issues hampering Nigeria’s gas industry growth in this interview with select journalists in Abuja. ENERGY EDITOR, Adeola Yusuf, was there. Excerpts The Nigerian gas industry has a lot of issues – infrastructure, technology and pricing. What are your projections for the industry in terms of direction in the shortterm? I think the best way to start is to say that we are thankful for all that has happened in the sector in the last few years. I think it is not enough to just catalogue issues; you should also be bold enough to state things when it starts to take shape. In the last five years, I think we have gone to every gathering to lay out the woes of our sector. But thankfully, things are beginning to resolve. In the areas of commerciality, which was a big point in the past, I must say that we have made considerable progress. In the days of 15 cents per thousand standard cubic feet per day, who would have thought that we would come to a day when offtake will be as high as $2.50? So, some progress has been made in terms of tariffs and in terms of commerciality. The contracts are there now; the Gas Supply Purchase Agreements (GSPAs) are there and people have already started to adopt them. Infrastructure is still an issue because like I said the last time, there are no magic wands. It takes a while to build critical infrastructure, particularly in gas. And therefore, I think we will have to wait until the critical infrastructure is put in place but there is progress and I see what is happening generally and I think we certainly are in the right direction. The other point will be about funding and capital. The first point I will like to say is that I still think that most of our operators are poorly capitalised for the efforts. So, we have companies striving to work on the gas side of the industry but they don’t even have the capital to carry the enormity of the investments. So, in terms of capitalisation per operator, I think that would be the next frontier of challenge that we need to address. Is it that they can’t raise capital

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

‘Nigeria’s gas needs $55bn

Osusanya

to start or that the banks are not giving support? I think it is a combination of all; there is a reference in the sense that before now, it was difficult to raise capital because it was not commercial. But now that the commercial setting is getting better, I think we can begin to talk about taking an offtake to a bank and raising money with that off-take. But the second issue is more global. What is the capacity of the local industry to deal with our requirements? The last time I was speaking to the Bankers’ Committee, I said that the gas sector in Nigeria requires about $55 billion in the medium term. That is a lot of capital to raise locally, but again, as the agreements are in place, may be, we will start to see some of that. Funding will continue to be a constraint but as long as we get

It was power that could not sustain its payment for our gas

every other thing right, it will come into play. So, those challenges are improving. They are still with us but they are improving. But I think that the next frontier is to make sure that the companies are well capitalised and that commerciality improves. What we hear from government every day is all about institutions. How do these gas aggregation arrangements and commercial arrangements play out to ensure some good returns on invested funds? I think that it is critical that government is more at the side of regulation and creating a market. I think it behoves the practitioners to come up with the instruments that create complete cost recovery for themselves and create an environment that enhances investments. I think the market structure is in place and government has put in place the

institutions. But it is now for the operators to create the instruments that will allow them operate well. What do I mean? Power was a big consumer of our gas. At some point, power was almost 85 or 90 per cent. But power was the weak link. It was power that really could not sustain its payment for our gas and therefore, there was no market and because it was a chain, everything collapsed. Now that we have the privatisation of the power sector, you can see the nature of engagements now. So, we are sitting with the discos to talk about gas and we debating on which kind of security structure they should put in place. We are asking for 15 months and more and they are saying they can only do Letter of Credit (LC) for three months. I think that is what I mean by the market is now evolving. At least that discourse and people are now taking

Business | Interview

NEW TELEGRAPH MONDAY, APRIL 13, 2015

medium term investments’ commercial decisions based on somebody who can pay. We also have an NBET that underwrites debt or underwrites off-take; I think that is also very good. We only now need for this interface to happen and prove themselves sustainable so that things can happen going forward. So, I think we are in the right direction in terms of the institutions; we are in the right direction in terms of putting everybody on track and I think that engagement has started to happen. So, I am positive that in another 12 to 15 months, you will see that the level of engagement in the sector will be different from what we had in the past. Have you been having these engagements with some sectors in the power industry because there is serious concern about collection inefficiency in the distribution companies. In the commercial arrangement, they are supposed to pay back to the generation companies for them to pay gas producers. It is not for the gas industry to solve the collection problems in power but we are interested stakeholders because if they don’t collect, they won’t be able to pay us. Therefore, we will always encourage that the discos find creative ways of improving their collection. But there are instruments we will leave by because everybody is in the sector. We sign a gas contract with you, you must pay and there are terms of how you pay - if you are putting a Letter of Credit, if you are paying in guarantee; if you are paying in advance – whatever the commercial term is the way we like it to flow because, again, we don’t want to get involved in the mechanics of the economics of power. We are gas producers and we are doing our bits. I gave a presentation to the Bankers’ Committee that I would say was the genesis of the legacy debts. I also told them just like I am telling you now that these companies are not well capitalised. The banks need to help them; they need to create the viable market so that everything works. I think it has started to happen. We had a discussion with the discos and the Group Executive Director of NNPC in charge of gas spoke about the securitisation of the gas contract. That happened about four weeks ago. Everybody in that forum was able to at least to say what they like to have. But like I said they are pushing for not more than three months of securitisation; we are pushing for much more. I am hoping that we will meet ourselves at some point. So, the engagement has started. We already have established fora for it and I am sure it will continue. Today, there are contracts that are already in play. Azura signed with Seplat Petroleum and that is a good beginning. Government just slashed

Osusanya

electricity tariffs by 50 per cent, even though the legacy debts have been taken care of. How do you think the reduction will impact on new contracts that are not part of legacy debts? I wish you did not ask this question, but since you have asked the question, let us attempt to answer it. I read the issue this morning and you guys are journalists. It was a screaming headline but when I read the content, it was clear that we are talking about using the collection loss to justify a reduction in tariffs. As a practitioner in that side of the business, it is illusory in my view. We know the levels of technical and collection losses that the discos are faced with. I think it is a gimmick when you talk about a 50 per cent slash on that basis. So, what I am saying is that for the practitioners, it shouldn’t really affect the economics significantly because

Osusanya

Today, the gas advantage is still very clear, even though the depressed nature of the price of crude oil has made the contracts not as wide

they are looking at that gimmick within the residential class, which is not an awful lot if you look at the overall economics of the distribution companies. But for my brief, I would have said that it is political. But let us leave it at that. I think for serious investors in the power sector, we need to be careful, we need to make them whole or things would never work. We agree that privatisation is the best way to reform the sector; and there are obviously better benefits in leaving it in private hands than leaving it in the status quo. But we must also be careful to ensure that they are whole all the time. I would always rather a super profit situation than us revising what we were trying to do. Are you aware that not many producers are happy even with the increase to $2.50 because the old agreement will still last for 10 to

15 years and the new price is not going to come in anytime soon? Gas pricing will never be where the producers want it but it is important that we continue to make the movement. That is why I said that depending on your manifest, $2.50 or even $3.80 per thousand standard cubic feet may not compensate you for getting the gas out and transporting it to the market. But it is a start and I think the way we will deal with it is to encourage them to work with what we have and improve the payment terms. It is not only the $2.50 or the $3.80; if you don’t pay on time, then the $2.50 becomes nothing. If we have an institution that can enforce $2.50, leading to $3.80, depending on where, I think it will be a good start for most of the fields that have gas today. We go out as Oando Gas and Power to look for gas on a daily basis. The $2.50 - $3.80 range more than compensates most gas producers. I think it is when they remember their previous experience of not being paid but if you can assure that $2.50 will be paid consistently; I think we will be able to incentivise gas to come out. With the slump in the price of crude oil, is there an increase in demand for gas by companies seeking to be connected or has the slowdown affected demand for gas? Today, the gas advantage is still very clear, even though the depressed nature of the price of crude oil has made the contracts not as wide. We would have said that in the past, we were a 50 per cent discount of diesel or a 75 per cent discount of Low Pour Fuel Oil (LPFO), but not anymore with the current prices. We are seeing a thinning of that contrast. So, it is clear that as an industry and again, speaking sector-wide, there will be a requirement. So, we think gas pricing going forward. But also because of the nature; because of what gas is, we don’t expect the volatility that you see with oil on the gas side. So, the contrast is reducing but as an industry, we have to address it as we go forward. So, the view we have taken is that at best the medium term drop will correct the 70s and 80s going forward. And therefore, there may be no need to alter the overall pricing of gas going forward because there will always be an advantage to use gas above the other fuels. In terms of how the customers have reacted, I think today, we have more customers than we can find gas for and they continue to knock and added impetus is the fact that the Nigerian Electricity Regulatory Commission (NERC) has come out to say that we can have embedded generation within the discos. That in itself has created a totally new market that we didn’t even plan for before. So, over and above our industrial customers, we are seeing an embedded generation customer base that can be huge.

Daily Summary as of 10/04/2015

Printed 10/04/2015 14:47:28.028

Business | Capital Market

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Daily Summary as of 10/04/2015 Printed 10/04/2015 14:47:28.028

Daily Summary (Bonds)

No Debt Trading Activity

The Nigerian Stock Market Exchange as at April 10, 2015 Daily Summary (Equities)

Daily Summary (Equities)

Activity Summary on Board EQTY

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

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 1 37 24 62

Current Price 0.50 26.01 26.70

Quantity Traded 311,882 1,146,628 1,047,148 2,505,658

Value Traded 155,941.00 30,191,711.68 27,965,416.60 58,313,069.28

Symbol LIVESTOCK

No. of Deals 20 20

Current Price 2.27

Quantity Traded 146,410 146,410

Value Traded 329,387.40 329,387.40

2,652,068

58,642,456.68

Quantity Traded 81,000 18,636,408 1,371,626 20,089,034

Value Traded 115,020.00 58,501,790.75 50,923,769.37 109,540,580.12

20,089,034

109,540,580.12

AGRICULTURE Totals CONGLOMERATES Diversified Industries Daily Summary as of 10/04/2015 A.G. LEVENTIS NIGERIA PLC. Printed 10/04/2015 14:47:28.028 TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals

82 Symbol AGLEVENT TRANSCORP UACN

No. of Deals 6 240 61 307

Daily Summary (Equities)

Current Price 1.36 3.18 37.30

307

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

Page

No. of Deals 24 24

Current Price 0.94

Quantity Traded 1,156,690 1,156,690

Value Traded 1,087,288.60 1,087,288.60

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

Symbol JBERGER

No. of Deals 20 20

Current Price 51.00

Quantity Traded 535,272 535,272

Value Traded 27,140,691.50 27,140,691.50

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

Symbol UAC-PROP

No. of Deals 27 27

Current Price 11.05

Quantity Traded 258,840 258,840

Value Traded 2,904,198.60 2,904,198.60

1,950,802

31,132,178.70

CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals Daily Summary as of 10/04/2015 Beverages--Brewers/Distillers Printed 10/04/2015 14:47:28.028 CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

71 Symbol DUNLOP Symbol CHAMPION GUINNESS INTBREW NBSummary Daily

No. of Deals 5 5

Current Price 0.50

Quantity Traded 400,000 400,000

Value Traded 200,000.00 200,000.00

No. of Deals 39 35 21 146 (Equities) 241

Current Price 7.76 140.00 19.65 163.76

Quantity Traded 1,439,605 46,253 127,230 801,562 2,414,650

Value Traded 11,186,788.45 6,441,447.77 2,515,453.40 128,178,580.39 148,322,270.01

Page Quantity Traded 23,859 23,859

No. of Deals 17 17

Current Price 160.00

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

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON UNIONDICON

No. of Deals 56 71 170 38 99 1 435

Current Price 4.90 7.30 34.00 3.06 8.38 11.84

Quantity Traded 1,523,193 2,366,164 5,024,924 1,594,704 4,435,717 150 14,944,852

Value Traded 7,462,163.70 17,284,337.64 172,389,723.76 4,872,413.23 35,835,355.75 1,687.50 237,845,681.58

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

Symbol CADBURY NESTLE

No. of Deals 35 37 72

Current Price 41.52 1,044.05

Quantity Traded 176,131 76,107 252,238

Value Traded 7,235,743.98 80,026,518.70 87,262,262.68

Symbol VITAFOAM VONO

No. of Deals 42 4 46

Current Price 4.15 0.85

Quantity Traded 2,605,998 32,050 2,638,048

Value Traded 10,148,349.66 27,124.50 10,175,474.16

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

Quantity Traded 73,235 533,772

Value Traded 2,037,362.71 22,611,930.14

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

Activity Summary on Board EQTY Published by The Nigerian Stock Exchange © CONSUMER GOODS Personal/Household Products Personal/Household Products Totals

PZ UNILEVER

24 40

27.20 41.72

No. of Deals 64

Current Price

Page Symbol

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC Daily Summary as ofBANK 10/04/2015 UNION NIG.PLC. Printed 10/04/2015 UNITY14:47:28.028 BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals Insurance Carriers, Brokers and Services

Activity Summary on Board EQTY

FINANCIAL SERVICES Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE Published by The Nigerian Stock Exchange © PLC CORNERSTONE INSURANCE COMPANY PLC. GUINEA INSURANCE PLC. CONSOLIDATED HALLMARK INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC MANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC STANDARD ALLIANCE INSURANCE PLC. UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks Daily Summary as of 10/04/2015 NPF MICROFINANCE BANK PLC Printed 10/04/2015 14:47:28.028 Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services RESORT SAVINGS & LOANS PLC Mortgage Carriers, Brokers and Services Totals

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

Quantity Traded 607,007

Value Traded 24,649,292.85

21,280,654

512,306,285.71

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC NIGERIA-GERMAN CHEMICALS PLC. PHARMA-DEKO PLC. Pharmaceuticals Totals

No. of Deals

Current Price

Quantity Traded

Value Traded

Symbol AIICO CONTINSURE CORNERST GUINEAINS HMARKINS INTENEGINS MANSARD NEM NIGERINS PRESTIGE REGALINS STDINSURE UNIVINSURE WAPIC

No. of Deals 30 28 4 1 1 5 5 29 2 2 1 8 1 50 167

Current Price 1.00 0.86 0.50 0.50 0.50 0.51 3.05 0.67 0.50 0.50 0.50 0.50 0.50 0.53

Quantity Traded 2,313,296 Page 1,379,011 492,830 500 100,000 166,478 510,050 1,486,877 1,000,807 132,000 600 339,003,000 5,300 8,216,483 354,807,232

Value Traded 2,315,198.00 4 1,201,093.79 of 12

246,415.00 250.00 50,000.00 84,903.78 1,555,650.00 990,986.82 500,403.50 66,000.00 300.00 169,501,500.00 2,650.00 4,375,087.53 180,890,438.42

Symbol NPFMCRFBK

No. of Deals 6 6

Current Price 1.05

Quantity Traded 601,000 601,000

Value Traded 631,050.00 631,050.00

Symbol

No. of Deals 1 1

Current Price 0.50

Quantity Traded 319,000 319,000

Value Traded 159,500.00 159,500.00

No. of Deals 71 37 3 799 323 20 88 1,341

Current Price 2.74 4.15 0.67 9.51 3.61 30.00 1.45

HEALTHCARE Totals

4,364 Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH NIG-GERMAN PHARMDEKO

No. of Deals 8 11 26 20 10 1 1 77 77

Current Price 2.09 3.30 56.26 1.74 0.87 6.32 2.13

6,692,523,884.38

Quantity Traded 56,095 207,040 55,429 530,221 59,750 20 700 909,255

Value Traded 111,639.05 682,570.64 3,079,201.20 919,203.54 50,272.50 120.20 1,540.00 4,844,547.13

909,255

4,844,547.13

Telecommunications Services MASS TELECOMMUNICATION INNOVATIONS NIGERIA PLC Telecommunications Services Totals

Symbol MTI

No. of Deals 2

Current Price 0.50

Quantity Traded 900,000

Value Traded 450,000.00

900,000

450,000.00

1,058,190

572,847.40

No. of Deals 22 14 19 13 (Equities) 68 1

Current Price 19.32 9.49 35.66 11.74 180.00 0.83

Quantity Traded 57,726 37,240 42,572 33,066 874,622 200

Value Traded 1,153,852.51 357,126.99 1,583,448.13 369,016.56 157,471,673.85 168.00

Symbol FIRSTALUM PORTPAINT WAPCO

No. of Deals 3 6 78 224

Current Price 0.50 3.50 90.01

Quantity Traded Page 1,310

Value Traded 7 of 12 655.00 278,300.00 107,999,568.50 269,213,809.54

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

Symbol CUTIX

No. of Deals 3 3

Current Price 1.58

Quantity Traded 217,000 217,000

Value Traded 343,460.00 343,460.00

Packaging/Containers BETA GLASS CO PLC. GREIF NIGERIA PLC Packaging/Containers Totals

Symbol BETAGLAS VANLEER

No. of Deals 3 1 4

Current Price 26.11 11.48

Quantity Traded 102,420 300 102,720

Value Traded 2,609,185.40 3,444.00 2,612,629.40

2,646,539

272,169,898.94

Quantity Traded 11,020 11,020

Value Traded 55,059.00 55,059.00

11,020

55,059.00 Value Traded 40,050.00

BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC.

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

Symbol ASHAKACEM BERGER CAP CCNN Daily Summary DANGCEM DNMEYER

80,000 1,200,083 2,326,819

231 Symbol BOCGAS

No. of Deals 4 4

Current Price 5.21

Daily Summary (Equities) Symbol JAPAULOIL

No. of Deals 5

Current Price 0.50

Quantity Traded 80,100

Symbol

No. of Deals 5

Current Price

Quantity Traded 80,100

Value Traded 40,050.00

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

Symbol OANDO

No. of Deals 482 482

Current Price 17.00

Quantity Traded 12,407,566 12,407,566

Value Traded 212,769,354.24 212,769,354.24

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

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 20 11 28 17 6 31 113

Current Price 39.50 3.05 207.50 158.00 50.54 180.00

Quantity Traded 50,525 195,815 27,780 32,111 1,667 25,982 333,880

Value Traded 1,934,215.19 595,819.30 5,501,572.60 5,145,627.40 80,049.34 4,648,948.57 17,906,232.40

Symbol SEPLAT

No. of Deals 41 41

Current Price 388.50

Quantity Traded 258,604 258,604

Value Traded 98,483,432.93 98,483,432.93

13,080,150

329,199,069.57

Quantity Traded 260,438 260,438

Value Traded 210,672.82 210,672.82

Page Quantity Traded 150,000 150,000

9 of 12 Value Traded 184,500.00 184,500.00

Activity Summary on Board EQTY

Published by The Nigerian Stock Exchange © OIL AND GAS Energy Equipment and Services Energy Equipment and Services Totals

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

Page

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

RTBRISCOE

15 15

0.81

Symbol TRANSEXPR

No. of Deals 4 4

Current Price 1.23

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 8 8

Current Price 0.50

Quantity Traded 125,124 125,124

Value Traded 62,562.00 62,562.00

Hotels/Lodging IKEJA HOTEL PLC TRANSCORP HOTELS PLC Hotels/Lodging Totals

Symbol IKEJAHOTEL TRANSCOHOT

No. of Deals 16 7 23

Current Price 4.85 9.63

Quantity Traded 469,370 1,900 471,270

Value Traded 2,098,318.36 18,276.00 2,116,594.36

Media/Entertainment DAAR COMMUNICATIONS PLC Media/Entertainment Totals

Symbol DAARCOMM

No. of Deals 1 1

Current Price 0.50

Quantity Traded 1,000 1,000

Value Traded 500.00 500.00

Symbol LEARNAFRCA UPL

No. of Deals 11 5 16

Current Price 1.51 4.47

Quantity Traded 130,276 82,746 213,022

Value Traded 194,129.46 386,364.30 580,493.76

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

Quantity Traded 70,667 70,667

Value Traded 39,166.85 39,166.85

Printing/Publishing Daily Summary as of 10/04/2015 LEARN AFRICA PLC Printed 10/04/2015 14:47:28.028 UNIVERSITY PRESS PLC. Printing/Publishing Totals Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

ABCTRANS

4 4

0.57

Symbol AIRSERVICE NAHCO

No. of Deals 3 24 27

Current Price 1.95 6.13

Quantity Traded Page 67,950 5,074,197 5,142,147

Symbol CAVERTON

No. of Deals 14 14

Current Price 2.90

Quantity Traded 284,400 284,400

Value Traded 826,748.30 826,748.30

112

6,718,068

35,255,088.87

6,780

1,623,640,217

8,046,241,896.50

Quantity Traded 4,500 4,500

Value Traded 7,290.00 7,290.00

4,500

7,290.00

4,500

7,290.00

6,783

1,623,644,717

Activity Summary on Board EQTY

SERVICES Published byTransport-Related The Nigerian StockServices Exchange © AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

Value Traded 10 of 12 132,502.50 31,101,348.28 31,233,850.78

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

5 of 12 Value Traded 7,623,361.82 16,651,023.45 22,400.00 409,309,515.11 271,599,024.70 13,716,413.36 7,620,250.20 726,541,988.64

1,553,244,437

Page

Value Traded 60,270.00 50,232.40 110,502.40

Activity Summary on Board EQTY

Symbol

FINANCIAL SERVICES Totals

Quantity Traded 118,500 15,000 133,500

SERVICES Published by The Nigerian Stock Exchange © Courier/Freight/Delivery TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Value Traded 349,462,942.08 3,618,379,399.91 41,312,377.48 55,396,554.69 915,896,395.46 35,513,857.13 42,432,450.84 215,290,347.89 1,238,942.55 9,446,881.00 874,989.47 499,055,768.82 5,784,300,907.32

Page Quantity Traded 2,813,131 4,097,164 35,000 42,958,681 77,559,644 456,138 5,262,203 133,181,961

Current Price 0.51 3.39

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Daily Summary as of 10/04/2015 Exploration and Production Totals Printed 10/04/2015 14:47:28.028 OIL AND GAS Totals

Quantity Traded 53,667,559 831,778,098 2,118,806 26,793,104 32,054,841 13,481,349 18,450,205 44,855,257 118,935 18,893,762 908,191 21,215,137 1,064,335,244

Symbol AFRIPRUD CUSTODYINS DEAPCAP FBNH FCMB STANBIC UBCAP

No. of Deals 5 2 7

NATURAL RESOURCES Totals

Activity Summary on Board EQTY FINANCIAL SERVICES Published by The Nigerian Stock Exchange © Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC DEAP CAPITAL MANAGEMENT & TRUST PLC FBN HOLDINGS PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Symbol CHAMS ETRANZACT

NATURAL RESOURCES Chemicals Daily Summary as of 10/04/2015 B.O.C. GASES PLC. Printed 10/04/2015 14:47:28.028 Chemicals Totals

Current Price 6.50 4.47 19.46 2.02 28.01 2.64 2.30 4.80 11.00 0.50 0.95 23.52

RESORTSAL Daily Summary (Equities)

Processing Systems CHAMS PLC E-TRANZACT INTERNATIONAL PLC Processing Systems Totals

INDUSTRIAL GOODS Totals

No. of Deals 243 69 33 231 343 157 1,117 355 31 17 26 227 2,849

Daily Summary (Equities)

Value Traded 12,345.00 12,345.00

INDUSTRIAL GOODS Building Materials Published by The Nigerian Stock Exchange © FIRST ALUMINIUM NIGERIA PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals

2 of 12 Value Traded 3,851,304.43 3,851,304.43

Symbol 7UP

Household Durables Daily Summary as of 10/04/2015 VITAFOAM NIG PLC. Printed 10/04/2015 14:47:28.028 VONO PRODUCTS PLC. Household Durables Totals

Quantity Traded 24,690 24,690

Activity Summary on Board EQTY

Activity Summary on Board EQTY CONSUMER GOODS Published by The Nigerian Stock Exchange © Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Current Price 0.50

INDUSTRIAL GOODS Daily Summary as of 10/04/2015 Building Materials Printed 10/04/2015 14:47:28.028 ASHAKA CEM PLC

Symbol COSTAIN

CONSTRUCTION/REAL ESTATE Totals

No. of Deals 2 2

ICT Totals

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

Symbol COURTVILLE

Symbol MCNICHOLS

No. of Deals 3 3

CONSUMER GOODS Totals Daily Summary as of 10/04/2015 PrintedASeM 10/04/2015 14:47:28.028 Board Totals

Current Price 1.55

Page

Equity Activity Totals

8,046,249,186.50

Daily Summary (ETP) Exchange Traded Fund

Name LOTUS HALAL EQUITY ETF NEWGOLD EXCHANGE TRADED FUND (ETF) STANBIC IBTC ETF 30 VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol LOTUSHAL15 NEWGOLD STANBICETF30 VETGRIF30

No. of Deals 1 1 1 2 5

Current Price 10.88 2,314.00 108.00 16.05

Quantity Traded 100 22 4,179 105 4,406

Value Traded 1,088.00 50,908.00 451,332.00 1,669.25 504,997.25

ETF Board Totals

4,406

504,997.25

ETP Activity Totals

4,406

504,997.25

Page

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Supporters of incumbent Gombe State Governor, Ibrahim Dankwambo, jubillating over his victory in the governorship election in Gombe. PHOTO-NAN

L-R: Returning Officer, Prof. Ayobami Salami; Resident Electoral Commissioner, Oyo State, Amb. Rufus Akeju and A.I.G. Zone 2, Mr. Ikemefuna Okoye, at the announcement of results of Governorship Election in Ibadan

Majority House Leader, Lagos State House of Assembly, Dr. Ajibayo Adeyeye (left) and former Chairman, Ikosi-Isheri Local Government Development Authority, Mr. Kunle Soname, waiting to vote at Ikosi during the Governorship and State House Assembly elections in Lagos at the weekend. PHOTO: GODWIN IREKHE

L-R: Public Relations and Events Manager, Dufil Prima Foods, Tope Asiwaju; winners, Indomitable Sticker Promo, Joshua Ogboko; Oreoluwa Adamo and Brand Manager, Dufil Prima Foods, Amber Kumar Yadav, at the prize presentation in Lagos. PHOTO: SULEIMAN HUSAINI

Photo | News

L-R: Head of Department, Electoral Operations, INEC, Lagos State, Abiodun Amosu; returning Electoral Officer, Isaac Adewole and Resident Electoral Commissioner, Akin Orebiyi, at the official announcement of results of Governorship and House of Assembly Elections in Lagos. PHOTO: TONY EGUAYE

L-R: Administrative Secretary, Ogun State Independent National Electoral Commission, Dr. Dickson Atiba; Ogun State Resident Electoral Commissioner, Chief Timothy Ibitoye and Ogun State Collation Officer/Deputy Vice-Chancellor, University of Lagos, Prof. Duro Oni, during the collation exercise of Governorship election result in Abeokuta, Ogun State

L-R: Director, Accounts Department, Lagos State Ministry of Agriculture and Cooperatives, Mrs. Oyeyemi Ayoola; Commissioner for Agriculture and Cooperatives, Mr. Gbolahan Lawal and Director of Agricultural Services, Dr. Olayiwole Onasanya, at the presentation of inputs and support to beneficiaries of 2015 Agric Value Chains Empowerment in Lagos.

L-R: Deputy Commissioner for Insurance, Technical, Mr. Mohammed Kari; Technical Manager, IRA Kenya, Mrs. Agnes Ndirangu and Group Managing Director, Continental Reinsurance Plc, Dr. Femi Oyetunji, during Continental Reâ&#x20AC;&#x2122; chief executive summit in South Africa.

News

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

SOUTH-WEST

Two killed as PDP win majority seats in Ondo Babatope Okeowo Akure

wo people were shot dead by men of the Forward Operational Base (FOB) of Nigerian Navy in Ilaje local government area of Ondo State, during the crisis that erupted in the State House of Assembly election held on Saturday. This development came

as the People’s Democratic Party (PDP) clinched 19 out of the 24 seats declared so far by the Independent National Electoral Commission (INEC). Aside the two people killed during the crisis, eight rifles, six phones and INEC materials were recovered from the hoodlums that attacked polling units, accosted electoral officers who were traveling on the sea to their different polling centres in the river-

ine local government. The INEC Resident Electoral Commissioner (REC), Mr Olusegun Agbaje, who disclosed this yesterday said that the results of the two constituencies in the volatile local government have been put on hold until the National headquarters of the commission makes pronouncement on them. Agbaje who brief reporters said, “the violence in Ilaje led to the cancel-

lation in several polling units with total registered voters that have effect on the final result if elections were not cancelled in those polling units. “The Returning Officers for Ilaje constituency 1 and 11 were forced to declare the results under duress by armed thugs even though the cancelled polling units could affect the final result. The Returning Officers in separate reports to REC declared

the results of Ilaje 1 constituency 1 and Ilaje constituency 11 inconclusive because the outcome of the cancelled votes could change the final results accordingly.” In his final report, Agbaje said the election was characterized by low turnout of voters and pockets of security breaches in some local government areas of the state. Despite this, he said 24 constituencies results

were declared at various collation centres in the local governments and winners emerged. They included Olotu Fatai, PDP, Akoko North east, Jamiu Sulaiman Maito, APC, Akoko Nothwest, Araoyinbo Olugbenga Joseph PDP Akoko Northwest 11, Toluwase Kuti Oluwasegunota PDP and Akoko Southwest 1 and 11, Dr Kareem Suleiman and Felemugudu Bankole APC.

South-West PDP legal adviser denies defection to APC Babatope Okeowo Akure

L-R: President/Vice-President, Babcock University, Prof. James Kayode Makinde, Vice-Chancellor, Obafemi Awolowo University, Prof. Idowu Bamitale Omole; Speaker, Babcock University 3rd Inaugural Lecture, Prof. Yetunde Makinde and Dean, Babcock Business School, Prof. Ayandiji Aina, at the 3rd inaugural lecture of the institution in Ilishan-Remo, Ogun State

Nigerians will be Buhari’s opposition –Adeyeye form. Very soon, the different centrifugal forces will begin to pull apart. There will be implosion in the APC,” he said. On the loss of the presidential election by President Goodluck Jonathan, Adeyeye said history would have a good record about the outgoing President. “President Goodluck Jonathan is good in as far as governance is concerned and has done a lot for this country, but you may say he is not a fantastic politician. “I believe history will have a good record about him at the end of the day,” he added. On the spate of defections to the APC, Adeyeye wished those defecting a safe landing, adding that they were

only going to populate a party that would soon crumble. In another development, former Ekiti State Governor, Otunba Niyi Adebayo, also faulted those rushing to the APC barely two weeks after the presidential poll. He stated this in an interview in Iyin-Ekiti, his hometown. “PDP people should remain in their party and rebuild it and provide virile opposition as we need that, otherwise the party in power may get carried away. I have consistently been in the Alliance for Democracy and other parties that sprung from the party even when we were in opposition. There is no need to jump from one party to the other,” he said.

inister of State for Works, Prince Adedayo Adeyeye, has said apart from the Peoples Democratic Party (PDP), Nigerians would play the part of opposition to the administration of the in-coming President Muhammadu Buhari and the All Progressives Congress (APC). Speaking in a chat in Ise-Ekiti, at the weekend, Adeyeye said that when Nigerians begin to feel the APC-led Federal Government and compare it with the outgoing PDP-led government, nobody would prompt them to become the critics of

the government. “The PDP is ready to provide virile opposition to the incoming APC government, but I am sure Nigerians will be the ones to do most of the criticisms when they begin to compare the two administrations. They will begin to ask questions about their welfare. “What has really changed? Most of the people in the APC were initially in the PDP. In the next two years, when we review the situation, we shall see. In the last elections, people were only driven by emotion. What happened is an opportunity for the PDP to reform itself and regenerate itself. “We will see what magic the APC will per-

APC wins 17 assembly seats in Ogun

Adesina Wahab Ado-Ekiti

he All Progressives Congress (APC) has won 17 of the 26 legislative seats in the Ogun State House of Assembly. According to the News Agency of Nigeria (NAN), result of last Saturday’s House of Assembly election announced by INEC yesteray, showed that the Peoples Democratic Party (PDP) won the remaining nine

seats. The APC won in Obafemi-Owode, Abeokuta South 1, Ewekoro, Abeokuta South 11, Abeokuta North, Ikenne, Odeda, Remo-North, IjebuNorth 11, Sagamu 1 and Odogbolu. The APC also won in Ifo 1, Ifo 11, Ado-Odo/Ota

1, Ado-Odo/Ota 11, Ogun Waterside and Egbado North1. The PDP secured victory in Egbado 11, Imeko-Afon, Egbado South, Ipokia/Idiroko, IjebuNorth1, Sagamu11 and Egbado North11. NAN also reported that APC and PDP were

controlling 13 and 10 seats respectively while the Social Democratic Party (SDP) controls three seats. While the Speaker, Mr Suraj Adekunbi, was reelected, his deputy, Mr Tola Banjo, representing Ijebu Ode Constituency, lost at the polls.

he legal adviser of the People’s Democratic Party (PDP) in the South-West geo-political zone, Chief Supo Ijabadeniyi, yesterday denied the claim that he has dumped the party for the All Progressives Congress (APC) just as he chided those doing so after the March 28 presidential elections. Ijabadeniyi said rather than dump the party, he would remain to rebuild it for future challenges, just as the rival APC waited for 16 years before it could win the presidency. He said “I am still a staunch member of PDP and will remain same until there is another nomenclature that will necessitate the change

of PDP from its present name and its philosophy, ideology, if there were any. “I am using this medium to re-assure my admirers that I remain constant and unshaken despite the temporary challenges facing our party, occasioned by the lack lustre attitudes of our leaders. “Undoubtedly, PDP has transformed from a ruling party to an opposition party. The mass exodus to APC in recent time is a clear manifestation of the fact that Nigerian politicians have primordial interests over and above national interest. “Let us remain in PDP and help build a virile and united force that will be formidable enough to protect the interest of the proliterats from the excesses of economic mandarins in APC.”

Polls: Bamidele donates N.5m to victorious PDP candidate

...APC, LP candidates get N250,000 each Adesina Wahab Ado-Ekiti

n a rare display of political support, a member of the House of Representatives, Hon. Opeyemi Bamidele (Ekiti Central Constituency 1), at the weekend visited the home of the winner of the House of Assembly election in Irepodun/ Ifelodun Constituency 1, Mr Omodara Olamiposi, donating N500,000 to mark his victory. Omodara, an indigene of Iyin-Ekiti, was the candidate of the Peoples Democratic Party during the election. Similar gesture was extended to the candidates of the Labour Party, Mr. Opeyemi Oguntuase Dada and the All Progressives Congress (APC) flag bearer, Mr. Bisi Dada James, respectively, in the election. Each of them got

the sum of N250,000 from Bamidele, for their display of maturity during the polls. In a statement signed by his media aide, Ahmed Salami, in Ado-Ekiti yesterday, Bamidele, a chieftain of the Labour Party, said that the critical decision was taken to cement the tie of brotherliness in Iyin-Ekiti and to prove a point that politics should be a game that unifies everybody. He said since the trio, who belonged to diverse political parties were from Iyin-Ekiti, it behoves on political leaders to show leadership by example, for the town to stand united to reinforce the level of development in the town. He stated that though the PDP candidate won the election, such political feat would not rewrite the history that the victory was a collective glory for all the indigenes of the town.

NEW TELEGRAPH MONDAY, APRIL 13, 2015

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SOUTH-EAST

Onu decries violence in Ebonyi Uchenna Inya Abakaliki

National Leader of the All Pro g ressives Congress (APC) and former Chairman of the defunct All Nigeria Peoples Party (ANPP), Dr. Ogbonnaya Onu, has decried the violence that characterized the governorship and House of Assembly elections in Ebonyi State. Addressing journal-

lShooting rocks Abakaliki over poll results ists shortly after casting his votes in his Uburu polling booth, Onu called on political actors not to see election as a do- ordie affair. He regretted that voters were intimidated, harassed and attacked in some parts of the state during the elections. The former governor of old Abia State alleged that the agents of APC were beaten up in the

polling units of his area and decried irregularities that greeted the exercise. ‘’In all parts of Onicha LGA, there was no result sheets and there is no reason why there will be no result sheets in this type of election. ‘’We don’t want violence, but they are pushing us into it by intimidating and attacking all our supporters.

Meanwhile, the political tension in the state degenerated to heavy shootings in Abakaliki metropolis by security personnel as the results of the governorship and house of Assembly polls were being announced by INEC in the state. It was learnt that the shootings was to scare people who were mobilizing for protest over the outcome of the elections.

Governor Elechi had stormed the INEC headquarters in Abakaliki, apparently to lodge a complaint when his deputy, Dave Umahi, also stormed the area leading to tension. Human and vehicle movements were affected in the area as a team of soldiers and policemen barricaded the roads leading to the INEC office.

Former Governor of Anambra State, Mr. Peter Obi, being accredited for voting at his Amatutu Agulu, Ward 2 polling station...yesterday.

Group demands release Five worshippers die as church collapses of authentic polls results T N he Alex Otti’s Support Group (AOSG) has commended the people of Abia State, for performing their civic rights by turning out to vote in the April 11 governorship and State House of Assembly elections, even as the group demanded that the electoral body in the state should release the results reflecting the wish of the people during the polls. The group’s Director, Media and Communication, Mrs. Mary Ikoku, in a statement said, “AOSG will like to appreciate the entire people of Abia State who not only craved change, but trouped out en masse to vote change”. We thank you for supporting and voting Dr. Alex C. Otti as the

Executive Governor of Abia State 2015. In his reaction, Chairman of the Support Group for Alex Otti said, “We have been inundated with calls and messages from well meaning people of Abia on the evil plan of the PDP to fraudulently subvert the will of the people via massive rigging.

o fewer than five worshippers died following the collapse of the St. Anthony Catholic Church Cathedral in Oduma, Aninri Local Government Area of Enugu State. An eyewitness told the News Agency of Nigeria (NAN), under anonymity yesterday in Enugu, that the incidence occurred be-

tween 8p.m and 9p.m on Saturday night following a downpour. The eyewitness said that the worshippers were in a prayer meeting when the incident occurred. Confirming the incidence, the Police Public Relations Officer for the police command in the state, Mr. Ebere Amarizu, said that the cause of the incidence

was not yet known. “Yes, I can confirm to you that five persons died following the collapse of St. Anthony Catholic Church at about 8 p.m, but we are yet to know the cause. “It is not yet clear as to what brought about the collapse of the building, but we have commenced full investigations into the incidence,” Amarizu said.

Ebonyi workers suspend strike Uchenna Inya Abakaliki

he organized labour in Ebonyi State at the weekend announced the indefinite suspension of the one month strike it embarked upon over the non-implementation of minimum wage and payment of its September 2011 salaries by the state government. The labour suspended the one month strike after a meeting with the government. In a resolution reached by both parties and signed by Secretary to the State Government, Dr. Bonniface Chima, Permanent Secretary Ministry of Finance, Fidelis Nwankwo, the Head of Service, Mrs. Ugo Nnachi, Chairman Joint Public Service Negotiating Council (Trade Union Side), Comrade Ikechukwu Nwafor and Chairman Nigerian Labour Congress (NLC) in the state, Comrade Joseph Nweke, the parties disclosed that they met to end the lingering industrial action by the workers. The resolution said: “Government accepts to pay within 48 hours upon signing this agreement all affected civil and public servants in Ebonyi State the September 2011 salary which was not paid as result of ‘ no work; no pay policy’ alongside with March 2015 salary. “Government agreed to pay with effect from 1st February 2015, 50% out of the 60% recommended and collectively agreed salary table submitted by the gover nment-constituted Committee of February 2015 headed by the State Auditor General, Chief B.O Ezeagu. “Government agreed to pay the arrears arising therefrom alongside April, 2015 salary.”

Abakaliki residents protest three months of darkness Uchenna Inya Abakaliki

esidents of some communities in Abakaliki metropolis at the weekend protested against the Enugu Electricity Distribution Company (EEDC), demanding the restoration of electricity which they have been

deprived of, for over three months. The protesters, who were from Nnobi, Abba, Udi, Nwike, and Aro Ndizuogu streets and some parts of Orokeonuoha, carried placards with inscriptions like; ’’ EEDC restore our light now’’, ‘’EEDC, we are tired of staying in darkness

for three months’’, “EEDC, what do you want to see before you act?’’, ‘’EEDC we have endured enough’’ among others, marched through the streets demanding restoration of power to their homes. One of them, Charity Okeh told New Telegraph that their transformer broke down and they

contributed money and bought new one and that since two months, EEDC have refused to install the transformer and addressed the problem of electricity in their localities. She said they decided to embark on the peaceful protest to register their grievance over the devel-

opment. Addressing the protesters who besieged the EEDC office located at New Layout, Abakaliki, the Assistant Branch Manager, Felix Odo, assured them that the management will look into their complaint and commended them for their peaceful approach.

48 News

south - south

monday, april 13, 2015 NEW TELEGRAPH

Akpabio hails Akwa Ibom people over polls Tony Anichebe Uyo

he Governor of Akwa Ibom State, Chief Godswill Akpabio, yesterday described the state governorship and House of Assembly elections in the state as free and fair, commending the Independent National Electoral Commission (INEC) and the security agencies for their quick response in meeting the threats posed by some desperate politicians in the state. He described as shocking, the desperation of the All Progressives Congress

(APC) in the face of the defeat and their unwholesome conduct and wanton thuggery in some parts of the state. The governor was particularly disturbed that shortly after the APC won the presidential election and expressed implicit confidence in the electoral processes, it could turn around to try and force itself on the people in such a brazen manner and maintained that if it were not for the quick intervention of INEC and law enforcement agents, the will of the people would have been truncated.

Uduaghan lauds INEC, Delta people over elections Mary Okpalaume

elta State governor, Dr. Emmanuel Uduaghan, has commended the Independent Electoral Commission (INEC) for its improvement in the conduct of the April 11 governorship and House of Assembly elections. Uduaghan, who spoke with newsmen shortly after casting his vote at Unuegbe Primary School polling unit, Abigborodo

in Warri North Local Government, said INEC has learnt from its shortcomings in the previous elections, adding that there are noticeable improvements in the electoral process. The governor was also impressed at the turnout of voters in his ward and commended Deltans for comporting themselves during the elections, noting that the peace agenda in the state was working.

Dickson: Douglas’ death, a rude shock Chris ejim yenagoa

he Bayelsa State governor, Seriake Dickson, has described the death of foremost environmental rights activist and Senior Special Assistant to President Goodluck Jonathan on Research and Documentation, Oronto Natei Douglas, as a rude shock and a monumental loss to the government and people of the state, the Niger

Delta and the country at large. Reacting to the news of the sudden passage of Douglas, Governor Dickson expressed sadness and dismay over the incident, saying that Bayelsa State and the Niger Delta have lost a rare gem, a dogged and visionary fighter and a frontline campaigner for the socio-economic and political advancement of the minority people of Nigeria’s oil and gas rich Niger Delta region.

Protests cripple Akwa Ibom Tony Anichebe Uyo

rate youths suspected to be supporters of the All Progressives Congress (APC) in Akwa Ibom State yesterday took to the streets to protest the governorship election results in the state. According to results already announced by INEC, the Peoples Democratic Party (PDP) candidate, Mr. Udom Emmanuel, recorded a landslide victory in 28 out of the 31 local government areas already released by the state

Collation Officer and Vice-Chancellor of the University of Calabar, Prof. James Ekpoke. The PDP candidate won in all the local governments with the exception of Urue Offong/Uruko, where APC led with 3, 792 votes as against PDP, which polled 2, 777 votes out of 7, 128 votes cast. Meanwhile, protesters, numbering about 5, 000 have blocked the entrance of INEC headquarters in Uyo, chanting war songs and displaying placards with various inscriptions such as ‘Stop killing our people in the name of elections.’

L-R: Rivers State APC governorship candidate, Mr. Dakuku Peterside; APGA governorship candidate, Mr. Charles Harry and SDP governorship candidate, Rev. Minaibim Harry, during a joint press conference to demand for the cancellation of the governorship and House of Assembly elections in Port Harcourt …yesterday

APC, APGA, SDP urge INEC to cancel Rivers’ polls Emmanuel Masha Port Harcourt

t least three political parties that participated in weekend’s governorship and House of Assembly elections in Rivers State have urged the Independent National Electoral Commission (INEC) to cancel the elections. The parties, the All Progressives Congress (APC), the All Progressives Grand Alliance (APGA) and the Social Democratic Party (SDP) said the election was marred by violence, intimidation and gross irregularities, adding that security agents working in the state collaborated with the Peoples Democratic Party (PDP) during the elections. Speaking with report-

ers jointly yesterday, candidates of the three parties, Dr. Dakuku Peterside of the APC, Prince Charles Harry of APGA and Rev. Minaibim Harry of the SDP, said they would not accept the outcome of the elections. The parties said their supporters were intimidated and prevented from voting during the elections, noting that the results would not reflect the wishes of the people, just as they alleged that “disenfranchisement of voters, intimidation, harassment and outright manipulation of already announced results at the various units, were the order of the day.” According to them, five members of the APC, including a party youth leader, were killed in Ogba/Egbema/Ndoni Local Government of the state. They also said that

75 electoral officers were arrested by riot policemen for allegedly thumb printing ballots for the PDP in the home of one the party’s chieftains. They said: “As governorship candidates of the All Progressives Congress (APC), the All Progressives Grand Alliance (APGA), the Social Democratic Party (SDP) and others, who due to certain exigencies, are unable to join us; this press conference has become necessary. “As you are already aware that the April 11 governorship and House of Assembly elections were fraught with violence and unbridled manipulation and intimidation by the Peoples Democratic Party (PDP), the Independent National Electoral Commission (INEC) and security agencies,” it said.

Harry, the APGA governorship candidate said among those killed were Obinna Ndubuoke, Jeophat Kingdom, Ndidi Ebere, Sydney Wokocha, Hon. Clever Orukwowu (APC Youth Leader), just as he alleged that some others were either beaten or shot in different parts of the state. They also said: “The mayhem was such that even the governorship candidate of APGA could not even be accredited. Such high level of violence and the misconduct recorded in these areas leave us as bearers of our people’s destiny with no choice other than to insist that the elections that held in Rivers State were an unfortunate sham; a gruesome episode enacted by forces that are in alliance to mortgage Rivers State and the future of our unborn children.

Tinubu, Amaechi, Fashola architects of new Nigeria, says Oshiomhole’s aide Cajetan Mmuta BENIN

ormer Lagos State governor and National Leader of the All Progressives Congress (APC), Asiwaju Ahmed Tinubu, was yesterday described as the leader, architect and pathfinder of a new Nigeria. Besides him are great fighters such as Edo State Governor, Adams Oshiomhole, Rivers State Governor, Rotimi Amaechi, Governor Raji

Fashola of Lagos State, the former Governor of Ekiti State, Dr. Kayode Fayemi, Governor Rauf Aregbeshola of Osun State, among others. The Senior Special Assistant, Media, to Governor Adams Oshiomhole, Mr. John Mayaki, in a statement while congratulating the President-elect, General Muhammadu Buhari, for his victory at the polls, he said: “The likes of Asiwaju Bola Ahmed Tinubu, Rotimi Amaechi, Adams Oshiomhole of Edo State, among others, should be congratulated

and encouraged for leading the most ferocious battle that brought change in the polity. Mayaki also commended Nigerians for “being resolute and united in speaking with one voice that all was not lost despite the intimidating, anti-democratic postures and actions of the Federal Government. He described Oshiomhole as “a steadfast, courageous pathfinder and a democrat, who has provided leadership to the people of the state, leading them into the main-

stream All Progressives Congress (APC).” The governor’s aide called on those who left the party and the governor halfway into the promised land to consider returning home and to the mainstream "as our political torchbearer and pathfinder has led us to the promised land." “We made it to the other side; the promised land after the PDP captivity and the turbulent and fearful crossing of the sea to the other side of victory and promisedland.”

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Cheke Emmanuel LAFIA

t least two people were feared killed while five others were injured at the weekend in Lafia, the Nasarawa State capital, while attempting to attack a collation centre for the House of Assembly election in the state. The report said two other people were arrested during the attack. New Telegraph gathered that the victims, suspected to be members of the Ombatse group, were on their way to Ibrahim Abacha Youth Centre along Shendam Road, to disrupt the

News 49

NORTH

Two die in Nasarawa collation process when some youths in Lafia apprehended them. It was gathered that the intention of the group was to disrupt the collation process for perceived reasons that the result of the election was

not going to favour some particular candidates of their tribal extraction. It was also gathered that one person was lynched by the mob at the scene of the incident, while the second person, who was recued by the

police with critical injuries, later died while receiving treatment at an undisclosed hospital in Lafia. Confirming the incident, the Police Public Relations Officer (PPRO), Ismaila Umar Numan

said: “We made two arrests; the person that was critically injured died in the hospital in the course of receiving treatment. There was no recovery of weapons, but one person was lynched by the group.”

According to him, the police have deployed its men to hunt for members of the group who escaped during the incident. The police warned that anybody caught with arms would be made to face the wrath of the law.

PDP leads in Plateau Musa Pam Jos

he governorship and House of Assembly elections conducted on Saturday in seven local government areas of Plateau State, showed that the Peoples Democratic Party (PDP) was leading with 47, 000 votes against the All Progressives Congress (APC). Some of the results released from nine local government areas by the Independent National Electoral Commission (INEC) yesterday as at the time of filing this report showed that the PDP was ahead of the All Progressives Congress (APC). New Telegraph gathered that elections were not concluded in Wase Local Government on Saturday and that officials of INEC had to continue yesterday. The PDP had a total 208, 980 votes from the nine local governments while the APC had 161, 166 votes.

L-R: Bauchi State INEC Administrative Secretary, Mr. Emmanuel Umegheh; Resident Electoral Commissioner, Prof. Tukur Sa’ad and Collation Officer, Prof. Mohammed Faruk, at the announcement of results of Governorship and House of Assembly elections in Bauchi…yesterday

Yari warns against unlawful celebration of victory

he Zamfara State governor, Abduaziz Yari, yesterday advised people in the state to celebrate the outcome of the governorship and House of Assembly elections within the ambits of the law. Yari made the call in Talata-Mafara while speaking with journalists. He warned that celebrating political victory should not be used

to disrupt existing peace and stability in the state. “As good Nigerians, whether celebrating or not celebrating, we have to ensure total adherence to the provisions of law. “As politicians, irrespective of any political party we belong to, we have to put the development of our dear state and the country in general in the frontline than

Senator-elect wants Jega retained as INEC chair Mohammed Kawu Bauchi

auchi North Senatorelect, Senator Suleiman Nazif and the incumbent Senator, Babayo Garba Gamawa, have described INEC National Chairman, Prof. Attahiru Jega, as a hero who should be given the opportunity to perfect the card reader operations for enhanced credibility in future elections. In separate interviews, Nazif stressed the need for Jega to be given the opportunity to improve upon the election processes; especially the card reader which he said is partly responsible

for giving the opposition victory in the Presidential and National Assembly elections. “Jega should be given the opportunity to improve upon the election process, the process needs to be improved upon, Jega should be commended, loud ovation should be given to him for bringing the card reader, which was part of what was responsible for giving the opposition victory,” he said. Nazif, who spoke at his Gamawa hometown, recalled that Jega was appointed by the ruling Peoples Democratic Party (PDP) and did what was

right with the opposition now becoming the ruling party. The senator-elect, who was speaking to newsmen on Saturday’s elections, described the APC as majority of Nigerians inclined party that are yearning for change, as the party has the potential for proving the desired change for the betterment of their lives. The incumbent senator in Bauchi North, Babayo Garba Gamawa, in the same vein noted that Prof. Attahiru Jega has demonstrated to Nigerians that he is an unbiased person, who is always mindful of his operations.

our personal or political interests,” he said. He urged the people to accept the outcome of the elections in good faith, saying that government would not fold its arms to allow people to take the law into their hands. Yari commended the electorate for their orderly and peaceful conduct during the Presidential and National Assembly as well as last

Saturday’s gubernatorial and state legislature elections. In a related development, the lawmaker representing Zamfara West Senatorial District at the Senate, Alhaji Ahmad Yarima, commended the Independent National Electoral Commission (INEC) for improving on the efficiency of the card reader. Yarima, who made

the commendation in Bakura yesterday while fielding questions from newsmen, said the card reader’s performance was better than what it was on March 28. According to him, the improvement of the device showed that INEC listened to several calls by Nigerians for it to improve its performance after the challenges experienced in the last polls.

APC ahead of PDP in Jigawa elections Dahiru Suleiman Dutse

he All Progressives Congress (APC) yesterday cleared 13 out of 17 seats of the Jigawa State House of Assembly earlier released by INEC, while the ruling party, the Peoples Democratic Party (PDP) won four seats from the result of last Saturday’s guber natorial, state House of Assembly and House of Representatives’ elections. Other results released in Malam-Madori Kaugama Federal

Constituency showed that the APC candidate, Nasir Garba Kaugama, won with 741, 810 votes. The results of Dutse/ Kiyawa House of Representatives poll has indicated that Ibrahim Abdullahi Dutse of the APC won with 59, 645 votes, beating his opponent, Hon. Tijjani Gaya, of the PDP, who scored 47, 335 votes. Also released was B i r n i n - Ku d u / B u j i Federal Constituency, Magaji Da’u Aliyu of the APC won with 57, 816 votes, beating his rival, Ali Tukur Gantsa, of the PDP, who won 46,

993 votes. In Hadejia, Kafin-Hausa and Auyo Federal Constituency, the incumbent, Hon. Hussaini Namadi, of the PDP retained his seat with over 245, 886 votes. Unlike in the presidential election, last Saturday’s gubernatorial and state House of Assembly elections had witnessed a massive turnout of voters in all the 27 local government areas of the state. The election, which was conducted hitch free, was observed under a tensed harmattan haze in most parts of the state.

WORLD | News

MONDAY APRIL 13, 2015 NEW TELEGRAPH

One killed, 150 hurt in Kenya varsity stampede

student was killed and 150 more were hurt in a stampede yesterday at a Kenyan university campus after a predawn electrical blast sparked fears of a new Islamist attack. Some panicked students threw

themselves out of buildings from as high as the fifth floor at the University of Nairobi campus, vice-chancellor Peter Mbithi told AFP. The country is on edge after the April 2 raid by Somalia's Shebab insurgents on Garissa university

that killed 148 people, almost all of them students. It was the deadliest attack on Kenyan soil since the 1998 US embassy bombing in Nairobi. Education Minister Jacob Kaimenyi said yesterday's explosion occurred at around 4 am while students

were sleeping on the university's Kikuyu campus about 20 kilometres (12 miles) west of the capital. "A power cable blew up outside the student hostel. The hostel itself was not affected, but the students thought it was an attack," said Mbithi.

"Some students jumped out," of buildings and "there was also a stampede", said Mbithi. "One student died after jumping from the fifth floor," he added. About 150 were injured, mostly lightly, while 20 remain in hospital for treatment.

Militant bomb attack in North Sinai kills six soldiers

gypt's military said a bomb detonated by militants killed six soldiers and wounded two others in Egypt's North Sinai yesterday, a region beset by Islamist insurgents. The army said in a statement that "terrorist and extremist elements" were behind the roadside attack on an armored military vehicle in the town of Sheikh Zuweid. Two of those killed were officers, it said. A Twitter feed that describes itself as the official account for Sinai Province, a militant group that has pledged allegiance to Islamic State, claimed responsibility for the attack.

People taking part in a protest against the government of Brazilian president, Dilma Rousseff in Brazil, yesterday.

Fresh anti-government protests in Brazil

razil yesterday braced for more huge demonstrations against government corruption, just one month after more than a million people took to the streets to protest graft and economic drift. A massive corruption scandal at stateowned oil giant Petrobras, rising inflation on the back of soaring utility bills and a perceived eroding of workers' rights have fueled opposition to leftist President Dilma Rousseff, re-elected just last October. By early yesterday, some 50,000 people had already turned out at demonstrations that organizers said they hoped would draw more than one million people in around 400 cities across the continent-sized nation. Rio was hosting two protests at the tourist magnet of Copacabana beach, while another march was scheduled for early afternoon in business hub Sao Paulo. "We have come to show what is going on in Brazil, this government is doing

nothing. The people must show their unsatisfaction," Dianara Loubet, a 75-yearold yoga instructor, told AFP as marchers converged on the capital Brasilia, where some protesters hung a banner calling for the army to intervene. Similar protests on March 15 brought out more than 1.7 million people according to police, although polling organization Datafolha questioned what it deemed inflated figures in Sao Paulo. "The main objective is to get Rousseff's dismissal or resignation," Fabio Ostermann, a leader of an opposition party organizing the rally, said Saturday. Public confidence in the political class has slumped with the detention or questioning of dozens of lawmakers and officials, including the treasurer of the ruling Workers Party over an alleged multibillion dollar kickback scheme at Petrobras. Rousseff is herself not under investigation, despite being

a former Petrobras board chair, but the widening probe has fingered a swath of her party colleagues and allies. A Datafolha poll Saturday found 63 percent of a 2,800-strong sample believed Rousseff should personally be investigated but 64 percent believed even if she were she would retain office. The pollsters also found some eight in ten Brazilians believe Rousseff knew what was going on at Petrobras, which she vehemently denies. Rousseff's personal ratings have crashed below 20 percent not just owing to the Petrobras affair but with Brazil's economy staggering after four years of paltry growth. Fitch Ratings lowered the country's investment grade to negative last week and inflation has climbed to 8.13 percent almost double the government's central target. Rousseff has responded with budget cuts, but promised to protect welfare programs that are the foundation of support for her party.

UN chief warns of links between crime, extremism

N Secretary General Ban Ki-moon warned yesterday of the growing links between organised crime and extremist violence, saying they are feeding off each other "like never before". Speaking in Doha at the opening of a UN anti-crime meeting, Ban said more needed to be done to tackle both crime and extremism, especially to stop either from becoming

attractive options for young people. "We must address the growing links between organised crime and terrorism," he said at the opening of the 13th United Nations Congress on Crime Prevention and Criminal Justice. "Like never before, terrorists and criminals around the world are coming together and feeding off each other. They are funding terror through criminal networks

and growing rich through the suffering of entire populations." He added: "There will always be crime and there will always be extremists. But we must work to stop crime and extremism being seen as attractive or necessary options â&#x20AC;&#x201C;- especially by youth." Among the issues to be discussed at the week-long conference are human trafficking, global use of the death penalty and matchfixing in sport.

North Sinai is the epicenter of an insurgency that has killed hundreds of members of the security services since mid-2013, when then-army chief Abdel Fattah al-Sisi ousted Islamist president Mohamed Mursi after mass protests against his rule. Sisi was overwhelmingly elected president last year. Sinai Province, previously known as Ansar Bayt al-Maqdis, has claimed other deadly attacks on soldiers in the Sinai. It renamed itself last year after swearing allegiance to Islamic State, the ultra-radical Sunni militant group that has seized swathes of Iraq and Syria, drawing US led air strikes.

Pope sparks row with Turkey

ope Francis sparked a diplomatic row yesterday by calling the massacre of up to 1.5 million Armenians 100 years ago "the first genocide of the 20th century," prompting Turkey to accuse him of inciting hatred. Muslim Turkey accepts that many Christian Armenians died in clashes with Ottoman soldiers beginning in 1915, when Armenia was part of the empire ruled from Istanbul, but denies hundreds of thousands were killed and that this amounted to genocide. At an Armenian rite Mass in St. Peter's Basilica to mark the 100th anniversary of the mass killings, Francis became the first head of the Roman Catholic Church to publicly pronounce the word "genocide" to describe them. Some European and South American countries use the term to describe the killings, but the United States and some others avoid it to maintain good relations with an important ally. Turkey was swift to protest. "The pope's statements, which are far from historical and judicial facts, cannot be accepted," Foreign Minister Mevlut Cavusoglu said on his Twitter account. "Religious offices are not places to incite hatred and revenge with baseless accusations," he said. The foreign ministry summoned the Vatican ambassador in Ankara and said Francis's remarks had caused a "problem of trust" in relations with the Holy See. Pope John Paul II and Armenian Apostolic Church Supreme Patriarch Kerekin II called the massacre "the first genocide of the 20th century" in 2001, but that was in a joint written statement. Francis, who has disregarded many aspects of protocol since becoming pope two years ago, uttered the phrase during a private meeting at the Vatican with an Armenian

delegation in 2013, prompting a strong protest from Ankara. As archbishop of Buenos Aires, Cardinal Jorge Bergoglio had already publicly described the killings as genocide before he was elected leader of the world's 1.2 billion Catholics in 2013. In November, the Argentine-born pontiff made an official visit to Turkey as part of his efforts to strengthen relations with moderate Muslim states. At the start of the commemorative Mass, the pope described the "senseless slaughter" of 100 years ago as "the first genocide of the 20th century" and noted it was followed by Nazism and Stalinism. "It is necessary, and indeed a duty, to honor their memory, for whenever memory fades, it means that evil allows wounds to fester. Concealing or denying evil is like allowing a wound to keep bleeding without bandaging it!" he said. Francis's comments were also published by Armenian President Serzh Sarksyan's office yesterday. "We are deeply grateful to His Holiness Pope Francis for the idea of this unprecedented liturgy ... which symbolizes our solidarity with the people of the Christian world," Sarksyan said in a speech at a Vatican dinner Saturday evening. The pope said genocide continues today against Christians "who, on account of their faith in Christ or their ethnic origin, are publicly and ruthlessly put to death - decapitated, crucified, burned alive - or forced to leave their homeland." Islamic State insurgents have persecuted Shi'ite Muslims, Christians and others who do not share their ultra-radical brand of Sunni Islam as they carved a self-declared caliphate out of swathes of Syria and Iraq, which share borders with Turkey.

NEW TELEGRAPH MONDAY, APRIL 13, 2015

News

International Sport

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United kill City’s EPL title dream

Football

Uche finally ends goal drought

Interview/Features

Sport

Musa’s consistency in Champions League

Did you know? Eden Hazard is rated in 11th spot on the list of football’s top earners alongside Yaya Toure, raking in almost $30 million during 2014 in club salary and endorsement deals.

Nigeria women win relay in Kenya Charles Ogundiya

igeria women on Friday stamped their supremacy in the sprints as the relay team won the 4x400m final at the Kenyan Invitational relay tournament. Nigeria’s Omolara Omotosho, Patience Okon, Ossai Rita and Oluwatosin Adeloye beat their host Kenya’s Jacinta Shikanda, Francisca Koki, Veronica Mutua and Joyce Zakary to the tape in 3:31.27mins, as Kenya finished second in 3:35.83mins. In the men’s category, Team Nigeria came third behind Botswana, anchored by Africa record holder, Isaac Makwala, and host Kenya. Botswana won the race in 3:04.87mins, while Kenya came second in 3:04.88mins, Nigeria however finished third in 3:06.24mins. Speaking with New Telegraph, the coach who led the team to Kenya, Gabriel Okon, said fatigue contributed to the team below par performance. “I will give the team ‘B’ for their performance,” he said. “We got to Kenya on Friday and competed same day. It would have been a better performance if we were there two days before the race. “The athletes really perform beyond expectation, most of them were competing for the first time this year and with time they will surely get better.”

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Awoniyi (right) trying to dribble past two Zambian defenders during the All Africa Games qualifier in Lusaka...Sunday. Nigeria won 2-1

Photo: Shengol Pix

Awoniyi lifts U-23 Eagles, shames Keshi Feanyi Ibeh

een sensation, Taiwo Awoniyi, on Sunday justified his inclusion in the national U-23 team by scoring both goals for Samson Siasia’s side as Nigeria defeated Zambia 2-1 in Lusaka to qualify for the football event of the 2015 All African Games. Awoniyi, called up from the Flying Eagles by Siasia after the U-23 side’s goalless affair against the Zambians two weeks ago, scored a goal in each half to ensure Nigeria’s presence at September’s games holding in Brazzaville,

Congo, where they will be hoping to become the first Nigerian side to win the AAG’s men’s football gold since the country’s only previous success at the 1973 event in Lagos. And with the Super Falcons having already secured their qualification for the AAG on Friday with a convincing 8-0 drubbing of Mali, Sunday’s win in Lusaka meant that Nigeria will be represented in both the men’s and women’s football events of the AAG for the first time since the Abuja 2003 Games. And it was mostly down to the goal scoring prowess of the youthful Awoniyi, who,

despite constantly proving his quality since his emergence on the scene two years ago at the FIFA U-17 World Cup in the United Arab Emirates, was constantly overlooked by the Super Eagles coaching crew led by Stephen Keshi. Keshi , unlike most of his former Super Eagles teammates such as Jonathan Akpoborie, Emeka Ezeugo, Garba Lawal and Nduka Ugbade, who were of the opinion that the 17-year-old was good enough for the senior national team, always insisted that the Ilorinborn striker was not yet ripe enough for the Super Eagles. This was one of the reasons

he reportedly cited when he dropped Awoniyi from the final 23-man Super Eagles squad ahead of the 2014 CHAN. But there was no sign of immaturity on the part of Awoniyi when he popped up to give Nigeria the lead against the Zambians in the 34th minute. The Zambians however pulled back on level terms 14 minutes from the end through Friday Samu. But just when it seemed like the Zambians were going to bag another goal, the impressive Awoniyi popped up again to score his second of the game with four minutes left on the clock.

52 News Sport

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

Ezekiel fires Standard Liege to victory

moh Ezekiel marked his return to action with a brace and an assist in Standard Liege’s 3-1 victory over Anderlecht in the Belgian Jupiler League title play offs. The 21-year-old scored his first of the game in the 21st minute and added his second to take scores to 2-0 for his side 13 minutes after the half time break. The Nigerian crowned a man of the match performance by setting up a 62nd minute goal for Geoffrey Munjagi for his side’s third and despite a late goal from

Anderlecht they failed to muster a comeback. Ezekiel’s fine form has seen him score five goals in seven games since rejoining the team in January from Al Arabi of Qatar. Despite his fine form, which has attracted a lot of interest from clubs in Europe, a move away from the UAE after his loan spell looks unlikely as the Dubai-based side is not willing to let go off him. However, he will be hoping he ends his loan spell with Standard Liege by helping them lift the league via the play offs.

Aiyenugba: I can replace Enyeama Zenith women basketball

nei Yehuda of Israel goalkeeper Dele Aiyenugba has expressed his readiness to replace Vincent Enyeama as Nigeria’s top-choice goalkeeper. Enyeama has given hint of his desire to quit international football after he won a century of caps last month. Former Enyimba shot stopper Aiyenugba said he has learnt a lot from the Lille star and he would be delighted to be recalled to the Eagles to take his place since his last appearance for the country four years ago. “It is every player’s dream to play for their country and I am always ready to play for Nigeria anytime I am called upon,” Aiyenugba told AfricanFootball.com “I played alongside Enyeama at

Enyimba and I replaced him at Bnei Yehuda in Israel. Enyeama is a great goalkeeper, I respect him a lot and I gained from him a lot.”

League resumes April 23 Ifeanyi Ibeh

Aiyenugba

he first phase of the 2015 Zenith Bank Women’s Basketball League will now get underway on April 23. Confirming the new date for the commencement of the country’s premier women’s basketball league was the Nigeria Basketball Federation via a statement made available to New Telegraph on Sunday. The new date comes following the conclusion of the general elections which necessitated the league’s

postponement in the first place. The championship’s first phase will take place at the indoor sports hall of the Abuja National Stadium. The teams that will be contesting for honours include defending champions, First Bank, Customs, FCT Queens, Benue Princess, Plateau Rocks, Delta Force, AHIP Queens, Coal City Queens, Oluyole Babes, GT-2000, Immigration, IGP Queens and Taraba Hurricanes. Others are Sunshine Angels, First Deepwater, and Dolphins.

Ugbade

F’Eagles can win U-20 World Cup –Ugbade

lying Eagles assistant coach, Nduka Ugbade, says it is very possible for Nigeria to win a first FIFA U-20 World Cup. The Flying Eagles play Brazil, Hungary and North Korea in group E of the World Cup in New Zealand, and Ugbade says it is very possible they win the tournament for the first time. “We can win it especially seeing as we haven’t won it before. This is a very good opportunity for us and we should take advantage of it,” he said. “We have done well in this competition in the past, but we have never won it. Maybe this is our chance to do it and I believe we have the right materials for the job.” Nigeria are yet to win the FIFA U-20 World Cup despite coming so close on several occasions, but it is believed in several quarters this is the team to finally lift the trophy, and Ugbade seems to share in that sentiment.

Glo salutes victorious Falcons

lobacom, Nigeria’s biggest corporate supporter of football, has congratulated the Super Falcons on their elaborate victory over Mali and subsequent qualification for the 2015 All African Games. The Super Falcons defeated the Malians, pumping a total of eight goals into their net in the last qualification match played in Abuja on Friday. This victory has earned the Super Falcons the qualification ticket as they moved ahead on a 9-1 aggregate, having earlier played a1-1 draw during the first leg encounter in Bamako two weeks ago. In a press statement in Lagos on Sunday, Globacom said:

“The Super Falcons should leave no stone unturned as they work toward a good outing in the All African Games and ensure that they emerge victorious, thus consolidating their position as the number one women team in Africa.” “We noted with great interest the fighting spirit and determination the team demonstrated in the match against Mali and we believe this will help them to make Nigeria stand out at the AAG. We believe the team has the character and pedigree to achieve the ultimate goal of picking the gold medal,” the statement added.

Gent place £20m price tag on Simon

ent have placed a hefty 20 million-pound price tag on their Nigeria wonder kid Simon Moses, according to manager Michael Louwagie. While reacting to stories about Moses leaving the club in the summer, the manager admits a bid around what it cost Everton to take Marouane Fellaini will be good enough to tempt them into selling. “Initially, I want to scare the clubs that way,” said Louwagie to Nieuwsblad. “But actually that amount is not excessive. The English teams

won’t be shocked at that amount. “Moreover Marouane Fellaini was sold for over twenty million, Why won’t Moses be worth that amount?” Simon has taken the league in Belgium by storm getting picked 6 times in the Belgium league team of the week in the ten games he has played since his move from AS Trencin of Slovakia. Despite only joining the team in January, the 19-year-old has been nominated for the Ebony Shoe award given to the best player of African origin in the Belgium league.

Beach Eagles in action

Beach Eagles ready for Seychelles battle

igeria’s beach soccer squad has arrived in Victoria, Seychelles and already preparing for Tuesday’s African Beach Soccer Championship opener against host nation Seychelles. Team Administrator, Sunday Okayi told thenff.com that the team landed in the Indian Ocean island on Saturday and coach Adamu Ejo and his boys are getting set to take on the host nation on Tuesday. Captain Isiaka Olawale, a

veteran of several continental and global tournaments, will lead a squad that also includes fellow veterans Abu Azeez, Oladipo Olalekan, Bartholomew Ibenegbu and Victor Tale. There will be four matches on Tuesday, with the Beach Eagles up against Seychelles, and Egypt tackling Cote d’Ivoire in Group A. In Group B, Senegal will take on Morocco while Ghana will be up against Madagascar. Champions in 2007 and

2009, and quarter-finalists at the World Cup four years ago, the Eagles will play Egypt on Wednesday and then round off their group phase campaign against Cote d’Ivoire on Thursday. The top two teams in each of the two groups qualify for the semifinals, coming up on Saturday, with the finalists (who battle for the trophy on Sunday) qualifying to represent Africa at the 2015 FIFA Beach Soccer World Cup in Portugal in July.

International Sport 53

NEW TELEGRAPH MONDAY, APRIL 13, 2015

United kill City’s EPL title dream •Massacre Man City 4-2

anchester United further dented Manchester City’s Champions League qualification hopes by storming back from behind to trounce their derby rivals 4-2 in the Premier League on Sunday. Sergio Aguero gave City an eighth-minute lead at a blustery Old Trafford, but United hit back through Ashley Young, Marouane Fellaini, Juan Mata and Chris Smalling to register a sixth successive league win. Aguero claimed another

goal at the death -- his 100th in City’s colours -- but it was too late to prevent United ending a sequence of four consecutive defeats against their neighbours. The win gave United a fourpoint cushion over City in third place -- the last automatic Champions League qualifying spot -- and took them back to within a point of Arsenal ahead of next weekend’s home game with leaders Chelsea. City have now lost six of their last eight games in all competitions and manager Manuel Pel-

legrini is likely to face renewed questioning about his ability to revive the team he steered to the title a year ago. It was a fourth successive away league defeat for City -- their worst run since 2006 -- and hammered another nail in their title defence, leaving them 12 points behind Chelsea having played a game more. While they retain a fivepoint lead over fifth-place Southampton, Liverpool can close to within four points by beating Newcastle United on Monday.

Premier League action between QPR and Chelsea on Sunday

Mourinho hails ‘very important victory’

helsea manager Jose Mourinho has hailed his side’s “very important step” towards the Premier League title after they struck late to see off Queens Park Rangers at Loftus Road. Cesc Fabregas fired home three minutes from time with the Blues’ first shot on target against Chris Ramsey’s determined side, who were also praised by Mourinho for their dogged defensive work. The victrory moves Mourinho’s side seven points clear of second-placed Arsenal and the Portuguese realises the

importance of their efforts. “Our situation was positive, one point would be one less point we need [to secure the title],” he told Sky Sports. “But the reality is that three points is always three points, is one less match that we need to win so it’s a very important step in a very difficult match. “I think our best quality was to control the game very, very well and to stop our opponents from scoring because they are a team who can score goals, is scoring goals, has dangerous attacking players and a dangerous way to play; very direct for their two strikers.

RESULTS

PREMIER LEAGUE TABLE

Young latches on to a loose ball which bounced off Clichy and fires past the despairing dive of Hart to level matters

Tennis ace Andy Allegri: Juve got it wrong Murray weds

ennis star Andy Murray on Saturday April 11, exchanged vows with his longtime girlfriend Kim Sears in a wedding dubbed “the royal wedding of Scotland”. The former Wimbledon champ married Sears at Dunblane Cathedral in his hometown of Dunblane, Scotland and they later enjoyed a reception at Cromlix House, a luxury hotel owned by the sports star. Murray and Sears have been dating since 2005, and Murray popped the question in November 2014. Murray and his brother Jamie sported traditional Scottish kilts for the ceremony, while the bride wore an embroidered white gown.

uventus coach Massimiliano Allegri admitted his Italian Serie A leaders got their “approach all wrong” after they slipped to just their second defeat this season against struggling Parma. Bottom-placed Parma stunned Juve with a 1-0 win at the Stadio Tardini on Saturday, ending a run of 20 unbeaten league games. Jose Mauri’s goal was enough for the Gialloblu to make it seven points from their last three games, and 16 for the season, while putting a minor dent in the Bianconeri’s hopes of a

Pts

1 Chelsea

2 Arsenal

3 Man Utd

4 Man City

5 S’hampton

6 Liverpool

7 Tottenham

8 Swansea

-2

9 West Ham

10 Stoke City

-4

11 C’ Palace

-1

12 Everton

-3

13 Newcastle

-16

14 West Brom

-16

15 Aston Villa

-21

16 Sunderland

-23

17 Hull City

-16

18 QPR

-21

19 Burnley

-24

20 Leicester

-19

Comeback win excites Bolt

Murray and wife

fourth-straight league title. Allegri was disappointed with the result and told juventus.com: “It was an important game that would have enabled us to almost wrap up the league and maintain our exact points’ advantage over Roma and Lazio with eight games remaining. “We got our approach all wrong. The absent players are no excuse. The fact remains that below-par displays don’t win games. They put in a decent performance, while we were slow and allowed them three or four breaks due to our errors in the second half.”

TEAM

orld 100- and 200-metre record-holder Usain Bolt competed in his first 200-metre race in 20 months on Saturday, posting an easy victory with a time of 20.20 seconds on home soil in Jamaica. Bolt raced unchallenged off the curve at the UTech Classic event in Kingston and cruised down the homestretch for the win over Olympic teammate Nesta Carter, who finished second in 20.60. He said: “It’s good to win but

it wasn’t the perfect race so I will have to go back and look to see what to improve on,” said Bolt of his first 200m since winning the final at the 2013 Moscow World Championships. “It didn’t feel as smooth as I am used to, but I just need to run more races to get race sharp.” Bolt was disappointed he failed to run under 20 seconds – his world record is 19.19 seconds – and said he would have to look at the video to see how he can gain more speed.

PREMIER LEAGUE QPR 0 – 1 Chelsea Man Utd 4 – 2 Man City Swansea 1 – 1 Everton S’hampton 2 – 0 Hull Sunderland 1 – 4 C’ Palace Tottenham 0 – 1 Aston Villa WBA 2 – 3 Leicester West Ham 1 – 1 Stoke Burnley 0 – 1 Arsenal SERIE A Cesena 0 – 1 Chievo Atalanta 2 – 1 Sassuolo Lazio 4 – 0 Empoli Napoli 3 – 0 Fiorentina Torino 1 – 1 Roma Udinese 1 – 3 Palermo Genoa 2 – 0 Cagliari Parma 1 – 0 Juventus Verona 0 – 3 Inter LA LIGA Getafe 1 – 1 Villarreal Espanyol 1 – 0 Bilbao Real Madrid 3 – 0 Eibar Malaga 2 – 2 Atletico Sevilla 2 – 2 Barcelona Almeria 3 – 0 Granada Celta Vigo 6 – 1 Vallecano BUNDESLIGA Cologne 3 – 2 Hoffenheim Stuttgart 3 – 2 BremeN Hannover 1 – 1 Berlin Bayern Munich 3 – 0 Frankfurt M’gladbach 3 – 1 Dortmund

Bolt

Mainz 2 – 3 Leverkusen

International Sport 53

NEW TELEGRAPH MONDAY, APRIL 13, 2015

United kill City’s EPL title dream •Massacre Man City 4-2

Premier League action between QPR and Chelsea on Sunday

Mourinho hails ‘very important victory’

RESULTS

PREMIER LEAGUE TABLE

Young latches on to a loose ball which bounced off Clichy and fires past the despairing dive of Hart to level matters

TennisaceAndy Allegri: Juve got it wrong Murrayweds J

Pts

1 Chelsea

2 Arsenal

3 Man Utd

4 Man City

5 S’hampton

6 Liverpool

7 Tottenham

8 Swansea

-2

9 West Ham

10 Stoke City

-4

11 C’ Palace

-1

12 Everton

-3

13 Newcastle

-16

14 West Brom

-16

15 Aston Villa

-21

16 Sunderland

-23

17 Hull City

-16

18 QPR

-21

19 Burnley

-24

20 Leicester

-19

Comeback win excites Bolt

Murray and wife

TEAM

Bolt

Mainz 2 – 3 Leverkusen

Sport

MONDAY, APRIL 13, 2015 NEW TELEGRAPH

EAGLES ROUND-UP

Uche finally ends goal drought Ifeanyi Ibeh

uper Eagles striker, Ikechukwu Uche, on Sunday scored his first goal for Villarreal in over three months in the Yellow Submarines 1-1 draw against Getafe in the Spanish La Liga. The 31-year-old Nigeria international, who had not scored in the Spanish top flight since his side’s 2-2 draw against Elche at the Estadio Manuel Martínez Valero on January 3, ended his drought by scoring from the penalty spot against the hosts at the Coliseum Alfonso Perez. Before scoring from the penalty spot in the 52nd minute of Sunday’s game against his former club, Uche had gone seven matches without scoring. But he was finally able to end his scoreless streak on Sunday and has now scored six goals in the Spanish top flight this season. Sunday’s draw also took Villarreal up to sixth on the table with 52 points from 32 games. Also on target, but a day earlier, was Nigerian striker, Edward Ofere, who

scored for his Scottish side, Inverness Caledonian Thistle, in their 1-1 draw against Celtic in the Scottish Premiership. Leigh Griffiths scored in the third minute to give Celtic the lead in the contest decided at Tulloch Caledonian Stadium, but Ofere, who has been capped three times by Nigeria, levelled matters up for his side two minutes later, scoring from close range after Jason Denayer had blocked Ryan Christie’s shot on the goal line. It was Ofere’s second league goal for Inverness following his arrival in February. The former Enugu Rangers and Lecce of Italy star’s previous goal came in his side’s 2-1 defeat to Motherwell on February 28. Also enjoying a good run of form at the moment is another former Enugu Rangers star, Osaguona Ighodaro, who scored his seventh goal in eight games for Moroccan side, Raja Casablanca, in his side’s 2-2 draw against city rivals, Wydad Casablanca. Ighodaro scored the opening goal of the game in the 62nd minute, his third

Uche in action

goal in a week and his third in the league. The Nigeria international, who was a January acquisition from Enugu Rangers, has been in good scoring form in the CAF

Champions league scoring five goals in all of the games he has played so far including all three goals for his side in their two-legged affair against South Africa’s Kaizer Chiefs.

Kipkorir, Olumudi for 2015 Okpekpe race Charles Ogundiya

enya’s middle and long distance runner Kembol Kipkorir who won the tenth edition of the Obudu International Mountain Race last year at the Obudu ranch resort in Obudu, Cross River state has been confirmed for next month’s Okpekpe 10km Road Race in Okpekpe, Auchi,Edo state. This much was confirmed at the weekend by race technical manager, Yusuf Alli. “Kemboi clocked 1hr 02 minutes and 34 seconds to beat Ethiopian Negera Abebe Dinkesa and Uganda’s Kiplimo Philip to win the $50,000 on offer in Obudu last year and will be hoping to add the $25,000 top prize at the Okpekpe race come next month,” said Yusuf Alli ,a former IAAF World Championships and Olympics long jump finalist. Similarly, Nigeria rave of the moment in long distance running, Aderonke Olumudi, in a telephone conversation with our correspondent on Sunday confirmed her readiness to partake at in the third edition of the annual Okpekpe 10km Road Race. The Kogi-born athlete has

Ujah can’t stop scoring in Germany igeria international Anthony Ujah on Sunday found the back of the net for 10-man FC Cologne in their hard earned 3-2 win against Hoffenheim at the Rhein Energie Stadium. Ujah, who scored in the 54th minute to hand his side a 2-0 lead, after Matthias Lehmann had handed the hosts a 20th minute lead from the penalty spot, has now scored 10 times this season in the German Bundesliga. The game however took a twist in the 70th minute the visitors were awarded a penalty which saw Pawel Olkowski getting sent off and Eugen Polanski stepping up to convert the penalty. Five minutes later, Ujah was substituted but in the 78th minute the home side restored their two-goal lead through Jonas Hector before Hoffenheim, buoyed by their one-man advantage, grabbed a consolatory goal in the 88th minute through Anthony Modeste. Prior to Sunday’s game, Ujah had gone three matches without scoring since grabbing a goal for Cologne in their 4-2 win over Frankfurt on March 8. For Ujah, the goal was his 10th league goal and 12th in all competitions this season. Meanwhile, Nigeria-born midfielder, Chigozie Udoji, was on target for Dinamo Minsk on Saturday in their one-all draw against Neman Grodno as the Belarus Premier League got underway. Udoji, who scored eight times last season for Dinamo, grabbed his side’s equaliser on 56 minutes after Artur Bombel had shot Neman into the lead.

Utagba seeks Nigeria coaching job nited States based NigerianU born coach, Joseph Utagba, has revealed his ambition of coaching in Nigeria if granted the opportunity to do so. The highly qualified gaffer, who possesses an American coaching license, plus an additional soccer management and scouting certificate, stated that he would be happy to tutor a clubside or any of the national teams back home in Nigeria. Utagba, who currently handles Westerville United FC in Ohio, U.S.A has also reiterated that he will not only want to coach here in Nigeria but that he will also assist in organising coaching courses and development projects with the National Soccer Coaches Association of America which he is a member amongst other innovations that he will be introducing to help make Nigeria football better in every aspect.

Utagba

“I’m very open for any coaching job in Nigeria; be it with a clubside or the national team. “This has become very necessary as I feel a great sense of responsibility to come and give back to my country by assisting in developing the sport,” the former Delta Power Stars of Ughelli, Sunshine FC of Akure player added.

Brazil 2016: ‘Falcons won’t underrate Mali’

S Kipkorir

been in a rich vein of form since moving to the United States of America, and recently won the 10km Women’s category of the third GE Irving Marathon. “I am ready to race at the Okpekpe,” she said. “I was at the first edition of the com-

petition, and I am ready to be the first Nigerian to win the race. “My target for now will be to perform well at the Lake Minneola Half Marathon billed for April 25, and hopefully take the form to Nigeria for the Okpekpe race.”

uper Falcons skipper, Evelyn Nwabuoku, has revealed that they won’t underrate the Mali national team in the 2016 Olympics qualifiers despite their victory on Friday. Speaking after she led the African women champions to a resounding 8-0 whipping of Mali to qualify for the All Africa Games, Nwabuoku said the best of the Super Falcons has yet to come adding that the team will peak for the World Cup. “The win over Mali is a massive one and I am glad it went the way we planned it. We are looking for-

ward to the next game which is the Olympic Games qualifier against the same Mali. We can only keep improving,” she stated. “Our next match is against Mali and I can assure you that we won’t underrate them, we can’t write them off because they will go and prepare well but they cannot stop us from qualifying for the Olympic Games.” Nwabuku also assured her fans to expect more goals from her to compliment the striking trio of Desire Oparanozie, Asisat Oshoala and Francisca Ordega.

Interview/Features 55

NEW TELEGRAPH MONDAY, APRIL 13, 2015

Musa’s consistency in Champions League

hmed Musa may not be a name that immediately registers among many. But for Nigerians, ardent supporters of the Super Eagles and followers of the Russian League, Musa is a household name. Born in October, 1992, the pacy forward currently plies his trade with CSKA Moscow and is a fixture in the current incarnation of Nigeria’s Super Eagles. He has also played for Kano Pillars, where he set a goals record in 2009-10. Much like the retired Austin ‘Jay-Jay’ Okocha, Musa is a player capable of putting spectators on their feet. He is growing to become the new Okocha for his national side. Known for his pace, dribbling, composure, versatility and defensive effort, the 22-year old has been compared to Jesus Navas and Arjen Robben for his pace and his ability to cut inside, run at defences and create chances. He is also one of the few Nigerian players to have maintained an appreciable level of consistency since the Eagles failed to qualify for the last African Cup of Nations. He remains a bright spot, even as the national team appears to be unorganised at the moment; no one is quite sure whether Stephen Keshi is still the head coach or just acting on a temporary basis, or not acting at all.

The Eagles last match against South Africa ended in a draw, and once again Musa was a delight. With the qualifying fixtures for the next edition of Afcon already released, the task is for the Eagles to put a team together that will overcome the likes of Chad, Tanzania and Egypt. That team will contain the likes of John Mikel Obi, captain Vincent Enyeama, and definitely Musa, who will play a key role in the success of the Eagles during the qualifiers. However, as the game of football develops day-after-day, so do modern footballers. If Musa must become the fulcrum of the Super Eagles, he must step up his game by playing regularly against the best in the world. The Russian League is hardly the strongest in the world, but it has developed some fine players over the years. Still, the compe- Musa tition is not enough to prepare a player for the role Musa is likely to play in the future. What better preparatory ground to utilise than the UEFA Champions League? Eleven points currently separate run away leaders Zenit St. Petersburg at the top of the league table having secured 54 points while Musa’s CSKA currently sit in the 3rd place with 43 points behind Krasnodar who are second on the log with 44 points. With their title

hopes in shambles, Musa and his teammates will be content to settle for a Champions League ticket provided their can upstage Krasnodar from the second position. That would not be an underachievement for CSKA, and it would definitely help Musa mature into a better and more mature player. While a move to Europe may not be far from coming, the opportuni-

Djokovic (left) and Federer

Monte Carlo: Djokovic, Federer on top of the world

op seed Novak Djokovic and No 2 Roger Federer both feeling close to the top of their games as the Monte Carlo Masters began on Sunday, marking the glamour start to the European clay court season.

The run to Roland Garros over the next six weeks will be a test bed for both of the elite pair, with Djokovic hoping that his superlative hardcourt form will translate smoothly to the dirt and Federer banking on the results of a Swiss training to polish his game to a glossy

ty to pit his wits against Europe’s best every fortnight will do wonders for his development. That, in return, will do wonders for the Nigerian Super Eagles. So when CSKA travel to take on Amkar Perm on Monday, every fan of Nigerian football should have their feet up in front of the TV – let’s cheer for the future of Nigerian football.

sheen. World No 2 Federer lost the final at the seaside Country Club a year ago to compatriot Stan Wawrinka. After arriving on Thursday in the principality and already getting in a pair of hitting sessions on Centre Court, the 17-time Grand Slam winner is ready to make another run at a major title which has eluded him. The second seed starts against the winner from Frenchman Jeremy Chardy and a qualifier in the second round after the bye given to the top eight seeds. “I’m feeling good about my game and my fitness,” said the 33-year-old with titles this season from Brisbane and Dubai plus a final in Indian Wells. “I feel like I did all the right things to prepare for the clay season.” The Swiss skipped the Miami event won by Djokovic to concentrate on a brief family holiday and a training block near Zurich. “We are onto clay for the first time in seven months after hardcourt. We’ll see, but so far, so good,” he said. Federer said that he will play his pre-French Open run by ear, hinting that competing in Rome next month would be a late decision, with the Italian event possibly replaced by some private training if he feels the need. “I want to do work that will be useful looking ahead of the french Open and Wimbledon.” Djokovic has been going full-tilt since the start of 2015 and has the trophies to prove it after winning the Australian Open for a fifth time and

Culled from soccersouls.com earning his third career title double with back-to-back top honours on Indian Wells and Miami cement. The Monte Carlo-based Serb is happy to be playing at home and trying not to think of all the tennis he’s already in his legs during in the first quarter of the season. “I’m not thinking about being tired, I’m just relying on the fitness training I did in the off-season and all the work to get myself into a state of mind where I can sustain high levels of tennis throughout most of year,” said the eight-time Grand Slam champion, off to his best career start since 2011. “It’s not the first time that I’ve played so many matches, but that’s a positive consequences due to my great results. “I cannot complain, I’m enjoying my time on court.” The Serb is counting on his fitness to hold up after losing a semifinal to Federer a year ago while plagued with a wrist problem. “I’m playing some of my best tennis now, hopefully I can follow up as there is a lot more of the season to come. “The clay is completely different from hardcourt, but this is the surface I grew up on, This is my home base, I feel comfortable here and have played consistently well in the last few years. “I just hope to start the clay season like I want to.” First-round play began with only three matches scheduled. Victor Estrella Burgos of the Domenican Republic became the week’s first winner as he beat Italian Simone Bolelli 6-4, 7-6 (7/5).

On Marble

Success is the result of perfection, hard work, learning from failure, loyalty, and persistence. – Colin Powell

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Roona Begum: The youngster, whose head circumference was reduced from 37ins to 23ins through major surgeries last year, cannot yet walk because of the weight of her head.

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Bala Mohammed: Spill the water, spare the baby! Emma Agu

o minister or aide of President Goodluck Jonathan should expect to be pampered after their principal had suffered a grueling defeat at the March 28 presidential elections. And that should be in character. In Nigeria, when you are yesterday’s man, or you are on the fast lane to becoming one, it is almost akin to being condemned to Siberia in the Soviet Union of old. You will be lucky if your friends don’t join in consigning you to the scrap heaps of history. But even that could be considered charitable. Ordinarily, many, especially your adversaries, will rise up in arms, and if possible, extract their pound of flesh. Among your traducers will be those you displaced in the race for the job, those you denied political patronage and those you stepped on their toes. Woe unto you, if you occupied positions such as petroleum resources, the Federal Capital Territory, Abuja, education, health, and the like. In other words, you are a candidate for unremitting witch-hunt, read vendetta, if you presided over any of the ministries considered a gold mine. In the wake of Jonathan’s loss, his ministers are now exposed to the bitter pill of defeat. For Bala Mohammed, minister of the Federal Capital Territory, FCT, these are troubled times indeed. That should not come as a surprise. In fact, on the contrary, it will be a great surprise if his horde of detractors were to keep quiet. Given that decision-making in government could, at times, be based on misleading information or outright mischief by subordinates with hidden agenda, it is not improbable that Mohammed, like any other minister, could have made a couple of mistakes in the nearly six years he served as FCT minister. By the way, that is a record, as no other minister had stayed for that long. To understand the perspective of this write-up, it should not be forgotten that Nassir el-Rufai, easily one of the finest ministers ever produced in Nigeria, was subjected to torrents of umbrage, not excluding death wishes, when he left as minister. The allegations were always the same: demolition of homes, corrupt enrichment, high-handedness, etc. No one should grudge the people the right to vent their anger when they feel shortchanged. Not even to deny them the right to seek restitution where genuine cases of malfeasance can be established beyond reasonable doubts. But to seek to discredit well thought-out programmes and projects as some detractors are inclined to do reeks of downright mischief and therefore unacceptable. A case in point is the advertorial taken out by a group, Indigenous Peoples of Abuja demanding among others, the

Mohammed

Olajumoke Akinjide, Minister of State FCT

ceding of the Abuja ministerial slot to an FCT indigene and the scrapping of the Land Swap programme of the Bala Mohammed administration. The point needs to be made that both demands are legitimate. And that is without prejudice to one’s position on the matter. For instance, how does one react to the demand for the indigenization of the FCT ministerial slot? By the same token I will not be in a position to insist on indigenes of the Niger Delta insisting on the same treatment at the ministry of petroleum resources. If all groups were to insist on localization of resource management, are we not inching towards a consensus on the vexed issue of resource control? Are we not justifying the wisdom in calling for constitutional review? Perhaps that

is a matter for another day. For now, I am sore worried that the land swap arrangement could come under serious threat if our penchant to throw the baby away with the bath water is not curbed. For sure, the Abuja indigenes are within their rights to insist that the contentious matter of compensation and resettlement be addressed unequivocally. But addressing the years-long injustices meted out to Abuja indigenes, which is only consistent with natural justice and therefore justifiable, cannot in itself justify throwing the baby away with the bath water. In spite of the turn of events, the path of honour demands that we continue to admit and commend the painstaking effort of the Mohammed-led FCT administration to ensure that Abuja indigenes did not suffer any untoward experience by virtue of the land swap project. The un-garnished truth is that unlike previous arrangements that were simply rammed down the throats of the indigenes, the Mohammed administration ensured that there was an open conversation about the project. Through the elaborate land swap road show which included town hall meetings at the Transcorp Hilton, Abuja, the International Conference Centre Abuja and various Abuja communities, the indigenes were able to articulate their grievances, fears and expectations. It is to the credit of Bala Mohammed that he insisted that provision be made in the various separate agreements for the project affected people (PAP). In other words, contrary to the claim of those now calling for the abrogation of the programme, the final decision was extensively negotiated and agreed upon. It is not inconceivable that the new administration could have cause to review some major projects to ensure that they fall in line with the vision of the government. After all, that is

We need to make the point that, at a time like this, we should not preoccupy ourselves with seeking to demonize or indeed destroy adversaries and political opponents

the ordinary meaning of riding to power on the platform of change. Even when that is conceded, the new administration should not lose sight of the great harm that could be inflicted on the investment climate by whimsical and vendetta-induced policy changes and somersaults. If we were to suddenly abrogate the land swap program as is being demanded, which is not dissimilar to the demands by Niger Delta militants who want oil companies out, what message shall we be sending to investors such as Aliko Dongote, Suleiman Yahyah and Chief Mrs. Modupe Alakija, all prominent Nigerians whose companies form the fulcrum of the Land Swap program? If that is not disturbing enough, would we not be confirming to outside investors that Nigeria is a high risk investment destination due to policy instability and personalization of governance? The aforementioned fears pale into insignificance when one considers the retardation to Abuja’s development that could arise from any attempt to scrap the land swap program. While its implementation guarantees faster housing and infrastructure delivery, the socio-economic impact through the opportunities for direct and indirect employment and other ancillary services are too huge to be sacrificed on the altar of narrow political differences. Understandably there are those who would want any legacy of Bala Mohammed to be completely swept under the carpet. That will be almost impossible to achieve. The road network that have taken shape under his administration, the unprecedented effort at opening up the satellite towns, the expansion of the public water supply, the steady progress made on the Abuja Rail Link and the sprawling World Trade Centre project are footprints that will remain indelible no matter the ferocity of the opposition. We need to make the point that, at a time like this, we should not preoccupy ourselves with seeking to demonize or indeed destroy adversaries and political opponents. The change we desire is not just about food on our table or good roads and water and electricity, it is not just about who gets what or occupies what position; it is also about the intangible innate underpinning of our humanity; as a people who can love and forgive, a people with compassion and noble spirit, a people who, in victory, will not seek to finish off the opponent who is haplessly down; a people who will not insist on throwing the baby away with the bath water. That should be the essence of our oneness, the epitome of our humanity. •Agu, a fellow of both the Nigerian Union of Journalists (NUJ) and the Nigerian Guild of Editors (NGE), is lead consultant of Gavinta & Associates Ltd, an integrated media consulting firm.

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