Monday, april 18, 2016 binder1 by Newtelegraphonline

Buhari to establish special forces against pipeline vandalism

...laments destruction of Forcados Terminal Anule Emmanuel Abuja

resident Muhammadu Buhari is considering

the establishment of a special security force that will be heavily equipped to protect crude oil pipelines in the country.

Vice-President Yemi Osinbajo disclosed this at the weekend after inspecting oil installations at the Forcados Terminal in Delta

State. The vice president had visited the area to ascertain the collapse of the facility, which led to the recent drop

in electricity supply across the country. He said: "One of the future steps the Buhari administration could take to forestall the perpetration of vandalism, is to estab-

lish a permanent pipeline security force." According to him, such a force if formed, "would be armed with sophisticated weapons to ensure CONTINUED ON PAGE 4

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Monday, April 18, 2016

Govt to cut oil, gas contract cycle to six months }3

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African Finance Ministers okay currency devaluation }5

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Reps padded Agric Ministry's budget with N12.6bn }10

I make more money stealing bikes – Bus driver }9

N150

Zoning divides PDP Kachikwu

Adeosun

}2 Sheriff outsmarts party leaders North-East to produce national chairman Governors meet over recommendations Bode George reads riot act to chairman

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National chairman Deputy Nat. Chairman National Secretary Organising Secretary Publicity Secretary Women Leader Treasurer

- North-East - South-South - South-West - South-East - South-West - North-West - North-Central

Troops discover Boko Haram's food storage facility – Army }3

Some soldiers removing foodstuffs in the storage facility of Boko Haram in Borno State... yesterday

FG agencies engage in secret recruitment lFIRS, PTDF, NIS, NSCDC fingered lIt's not recruitment, but replacement –Official }3 Fast food packaging could pose chemical risk }10

NEWS

MONday, APRIL 18, 2016 NEW TELEGRAPH

National convention: Zoning divides PDP

Onyekachi Eze and Tony Anichebe

ational Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, seems to have won a major battle in his quest to remain in office. The zoning committee, headed by Governor Emmanuel Udom of Akwa Ibom State, has zoned the national chairman of the party to the North-East. Sheriff is from Borno State in the North-East. The zoning arrangement proposed by the committee, according to the source, include: Deputy National Chairman (South-South); National Secretary (South-West); Organising Secretary (South-East); Publicity

Secretary (South-West); Women Leader (NorthWest) and Treasurer (North Central). The zoning of the 12 National Working Committee (NWC) offices of the party is, however, tearing the party apart. Some party leaders are kicking against the zoning of the national chairmanship in the North-East, saying it is the handiwork of Sheriff. “He wants to perpetuate himself in office and we will fight against this imposition,” one of the leaders of the party told New Telegraph. But a political associate of the national chairman told New Telegraph that the issue is beyond Sheriff. “It is basically on how to reposition the party,” he said. Impeccable sources

told New Telegraph that the Udom committee, on Friday, failed to reach a consensus on the zoning of the chairmanship of the party. The committee, which met in Uyo, Akwa Ibom State, was divided over the retention of the National Chairmanship position by the North-East. In 2012, PDP zoned its National Chairman to the North-East. Dr. Bamanga Tukur from Adamawa State was elected in 2012 for four years. His tenure was cut short and former governor of Bauchi State, Adamu Mu’azu, was brought on board to complete Tukur’s tenure. Mu’azu was also forced to quit following the failure of the party to win the 2015 presidential election. Prince Uche Secondus, the

deputy national chairman, was brought on board in acting capacity until the emergence of Sheriff in February. A source at the meeting told New Telegraph that majority of the committee members supported the choice of North-East to produce the national chairman at the May 21st national convention on the strength that the party is weak in the North. The Udom committee reasoned that the party needs to win back the confidence of the people of the north in view of the disenchantment in the region as witnessed in the 2015 general elections. “The committee believes that as at today, PDP is weak in the North, controlling only two out of the 19 states. We believe

L-R: Former Minister of Transportation, Chief Ebenezer Babatope; former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George and Chairman, Lagos Chapter, Capt. Tunji Shelle, at a stakeholders' meeting in Lagos…on Saturday. PHOTO: SULEIMAN HUSAINI

there is urgent need to strengthen the party in the North by zoning the national chairmanship to the North-East. As in every democratic organisation, there are always divergent views. We can’t zone the position to the South where the party is in control of 10 states. So, the choice of the NorthEast is to strengthen the PDP. Also, the decision is to win back the confidence of the North. Don’t forget that the North has not forgiven the PDP for its inability to produce the presidential candidate of the party in 2015,” the source said. Udom, who briefed journalists after the meeting, said the committee has agreed on the zoning arrangement for the 12 National Working Committee (NWC) of the party. He, however, said that this was subject to adoption by the National Executive Committee (NEC). PDP Governors' Forum has scheduled a meeting in Abuja today to take a final decision on the zoning arrangement. The Forum will discuss the proposed zoning arrangement by the Udom committee before its ratification by NEC. PDP ward congresses begin this Saturday, the

19.76

The number of fixed-telephone subscriptions per 100 inhabitants of Malaysia in 2000. Source: Itu.int

Bode George reads riot act to Sheriff Wale Elegbede

ormer Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, has urged the National Chairman of the party, Senator Ali Modu Sheriff, to stay on the positive side of history by handing over to an elected chairman at the forthcoming National Convention of the party. Speaking on Saturday night at a press conference in Lagos shortly after his arrival from the United Kingdom, the PDP chieftain identified indiscipline as the contributing factor to the party’s defeat, adding that there is the need to restore discipline and strong adherence to constitutional purity. George, who was accompanied at the briefing by a member of the party’s Board of Trustees (BoT), Chief Ebenezer Babatope; former Minister of Works, Senator Adeseye Ogunlewe, among others,

stressed that the party is at a moral crossroads, struggling with survival. “Our National Chairman, Senator Ali Modu Sheriff, has a very significant role to play in this crucial transitional process as we move towards our congresses and the national convention. “His task is very daunting and challenging. I wish him God’s guidance as he manoeuvres carefully in re-establishing a solid foundation for our party. I implore him to be faithful to his words and his promise in the processes of giving our party a new, strong and firm foundation. “I want to believe the chairman is an honourable man. He must honour his word to handover to an elected chairman at the National Convention on May 21st this year. This is the only way that he will be on the positive side of history.” Speaking on whether he has an ambition to contest the party’s chairmanship seat, the BoT member said: “Like I said and I mean it, I

have no plan, no ambition, blighted or straightforward. I know a lot of my friends and elders have been saying that if it is zoned to the South-West, we are going to push you. “You know we are in opposition and there is no villa anymore, no president to decide for the party, thus, the management of the party must be different. It has to be serious strategic thinking and network with the people for you to take decisions. I worked under President Muhammadu Buhari and he is not an easy man to deal with. “You must have superior arguments that will appeal to the hearts and mind of Nigerians towards 2019, it is not time for jobs for the boys. This is serious management time for this party, serious thinking, strategic and experience. We are all watching.” While describing the expected zoning of party offices as a very delicate issue that must be predicated on fairness and equity, he stated that, “This is not the

time for untested, untried and inexperienced neophytes.” Making a contrast between the vision of the party’s founding fathers and the present state of the party, he said, “We have derailed from the classical beginning. We have detoured foolishly from the redemptive path. We have lost our bearings. We have left the safety of our anchor for the perilous and the unknown shores. We are now adrift, circling in turbulent waters.” Taking a swipe at the position of Senator Buruji Kashamu-led South-West team that visited Sheriff demanding that the North-East should retain the chairmanship seat, George said their position was disgraceful to the zone. “When I read about some of our people from the South-West who went to see the National Chairman and said they didn’t want the party’s chairmanship to come to the SouthWest, my initial reaction was of anger.

“When we started the journey to rebuild the PDP in the South West, none of those people was a member. How can anybody in a family go out and wash your dirty linen in the market? But I want to assure them that I have no lustre, it’s not a matter of life and death to come and serve. I was distressed with the news, it was a disgraceful position. “A lot of my friends from the North called and said that we heard some of your people are saying no to the chairmanship, but they said that they have accepted that the presidential candidate would come from the North and that is what they stand on.” Expressing his views on the forthcoming convention of the party, Babatope said: “We are preparing for the convention and we are also watching the antics of these elements who are all out to distort the party, we can’t allow miscreants to run our party for us. The South-West will talk on our agenda at the convention.”

first leg towards the election of its national officers on May 21. Contacted, a former Deputy National Chairman of the party, Chief Olabode George, said that the committee had a right to recommend anything it wanted. He said the true test of the committee’s work would come when they submit their reports to the NWC, which would, in turn, pass it to the party’s caucus, the Board of Trustees (BoT) and the NEC. George told New Telegraph that if the committee were able to defend the zoning arrangement before these organs of the party, the position would stand. But if not, it would be thrown away. “I have no problems with the recommendations of the committee. It is only a committee. When we meet them, they will explain to us how they arrived at that. PDP is not controlled by one man. It has the visions of the founding fathers. “If we are not satisfied and they insist, we will land in court. They will have to tell us how they arrived at it. We will listen to them and have a debate. It is not a private company. If they convince us, we will agree. But if not, we will throw it out. That is my position.” “The zoning is still unofficial. The recommendation will still go to NEC for ratification,” a member of the NWC told New Telegraph. The party has already decided to choose its presidential candidate in 2019 from the North. The permutation is that ahead of the 2019 presidency, the national chairman from the North will relinquish the position to a southerner. This is to prevent a situation where the two offices will come from the North. The resolution of the Udom Committee was predictive. There have been calls from some quarters for Sheriff to contest the May 21 National Convention. A delegation from the South-West, led by Senator Kashamu Buruji, expressed fears that PDP would be branded a regional party if the National Chairman is chosen from the South. Some elements in the South-South were also said to be rooting for the North to retain the chairmanship position. A source at the PDP National Secretariat revealed that Sheriff had cashed on the prompting of the two zones where the next chairman ought to have come from, to intensify CONTINUED ON PAGE 4

NEWS

MONday, APRIL 18, 2016 NEW TELEGRAPH

FG agencies engage in secret recruitment

Onwuka Nzeshi and Johnchuks Onuanyim ABUJA

midst complaints of massive unemployment in Nigeria, more indications have emerged that some Ministries, Departments and Agencies (MDAs) of the Federal Government have been engaging in secret recruitment of personnel to fill the available vacancies in their organisations. A couple of weeks ago, the Central Bank of Nigeria (CBN) was alleged to have recruited about 909 personnel without adherence to the laid down rules on hiring new employees. Majority of the beneficiaries were said to be children and relatives of top functionaries of the Federal Government and chieftains of the ruling party, the All Progressives Congress (APC). Although the apex bank did not deny the report, officials of the bank said there was nothing wrong with what they described as "targeted recruitment." New Telegraph investigations, however, revealed that similar "selective or targeted" hiring of personnel into the public service have continued to take place behind closed doors. It was learnt that agen-

cies such as the Federal Inland Revenue Service (FIRS), Petroleum Technology Development Fund (PTDF), Nigeria Immigration Service (NIS) and the Nigeria Security and Civil Defence Corps (NSCDC) have also indulged in secret recruitments. In some of these agencies, it was learnt, hundreds of employees have been recruited since the inception of the Muhammadu Buhari-led administration in May 2015. Investigations have also revealed that many of those recruited were essentially handpicked from lists sent to these agencies by some influential politicians. In PTDF, for instance, about 200 persons were reportedly recruited without any form of advertisement for the jobs as required by law while an unspecified number of persons have equally been recruited into the Nigeria Immigration Service. When New Telegraph contacted the PTDF to clarify the report of the recruitment, a senior official of the agency could neither deny nor confirm it, but urged our correspondent to seek the needed information from the management. Head of Press and External Relations, PTDF, Mr. Kalu Otisi, did not re-

spond to calls made to his mobile phone in respect of the issue. In the case of NIS, a senior official in the organisation confirmed that it had taken in new employees but said, "it was not a recruitment, but a mere replacement exercise." It could be recalled that about 2,000 persons recruited into the Immigration Service in the twilight of the Goodluck Jonathan administration were sacked when the APC-led government took over power. The affected personnel, who were recruited through a presidential directive after the 2014 immigration recruitment scandal, lost their jobs on the excuse that the process of their recruitment did not follow due process. How-

ever, they have now been replaced secretly, contrary to the civil service rules. Recently, the sacked immigration officials staged a protest at the Federal Ministry of Interior, Abuja. During the protest, the sacked workers lamented their plight and urged the government to reconsider its stand on their matter. But an official of the NIS explained that what happened was not recruitment, but a replacement exercise meant to fill existing vacancies created by death, retirement or resignation of some former employees. In the case of NSCDC, New Telegraph learnt that the authorities of the agency allocated job slots to prominent political office holders and chieftains of

£120m The Premier League pre-tax profit for 2014-15 season. Source: Soccernet.com

the ruling APC as a form of political patronage. Beneficiaries of the "guided recruitment" into the NSCDC have since been sent to their respective states of origin for training. There were, however, allegations that some job slots allocated to some leaders of the ruling party were hijacked by the Buhari Support Group, resulting in a protest at the party secretariat. A private media group, True Verdict Magazine, recently petitioned FIRS over

the alleged recruitment of about 215 new staff into the agency in the last six months. In the letter addressed to the Chairman of FIRS, Mr. Tunde Fowler, the group alleged that the said recruitment was done in total disregard to the existing federal character principles and laws as it went through some agents who were collecting as much as N500,000 each from these new recruits. It was also alleged that the secret recruitment exercise was heavily skewed in favour of a particular ethnic group. Section 4 (1)(g)(1) Federal Character Commission (Establishment Act) 2004 stipulates that: "All ministries and extra-ministerial CONTINUED ON PAGE 5

L-R: Executive Director, Transcorp Hotels, Ms Okaima Ohizua; Managing Director, Mr. Valentine Ozigbo; Chairman, O'tega Emerhor and Company Secretary, Helen Iwuchukwu, at the second Annual General Meeting of Transcorp Hotels Plc., held in Abuja on Friday.

Troops discover Boko Haram's food storage facility – Army Govt to cut oil, gas contract cycle to six months Emmanuel Onani

n continuation of efforts to defeat the extremist group, Boko Haram, troops of 7 Division Strike Group, have uncovered a storage facility that supplies food to the insurgents. The dawn operation was carried out simultaneously with troops of 22 Task Force Brigade on suspected Boko Haram terrorists hideouts at Biggoro, Warpaya and Aura, North of Kumshe in Bama Local Government Area of Borno State. The disclosure was made in a statement signed by the Acting Director, Army Public Relations (DAPR), Col. Sani Usman. Usman said: "On Saturday, April 16, troops of 7 Division Strike Group Team B and 22 Task Force Brigade conducted a simultaneous dawn raid on suspected Boko Haram terrorists’ hideouts at Biggoro, Warpaya and Aura, North of Kumshe in Bama Local Government Area. "The essence of the operation was to stop the reported criminal activities of remnants of Boko

Haram terrorists hiding in the three villages. This became necessary, as previous efforts were futile. The suspected terrorists kept coming in search for food, water and shelter. "The surprised dawn attack yielded positive result as the troops discovered well concealed observation posts on trees in the villages constructed by the terrorists to give them early warning of troops’ movement or approach. "In addition, the troops found out that the observation posts though tree tops, were constructed in such a manner with chairs and ropes to pull up foods and other needs by the sentry without necessarily coming down the trees. "To also save for the rainy day, the terrorists had underground food storage facilities where they stocked large quantity of foodstuffs. The troops killed two Boko Haram terrorists and also recovered three AK-47 rifles, magazines and ammunition. They also recovered two motorcycles from them. In addition they rescued two children from the terrorists."

lMulls categorisation of local content champions Adeola Yusuf

he Federal Government, at the weekend, declared plans to slash contracting cycle in the Nigerian oil and gas industry from its current stretch of four years to just six months. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who revealed this, identified the long contracting cycle as a major contributor to the high cost per barrel of the Nigerian crude oil compared to other Organisation of Petroleum Exporting Countries (OPEC) member countries. In a speech he delivered at a stakeholders' interactive workshop on Nigerian Content Policy organised by the Senate Committee on Petroleum Resources (Upstream) in Calabar, Cross Rivers State, Kachikwu listed other challenges to include multiplicity of bidders, application of manual tools in bid evaluation and divergent tender requirements by approving entities such as the Nigerian Content Development

and Monitoring Board (NCDMB), National Petroleum Investment Management Services (NAPIMS) and the International Operating Companies (IOCs). Represented by the Group General Manager, NAPIMS, Mr. Sajebor Dafe Stephen, the minister stated that the contract approving entities were already implementing his charge to strategise and develop a single contracting procedure, which will soon be issued to the industry. He also confirmed plans to categorise companies that have invested heavily in the economy and become local content champions for specific work scopes in a way that will facilitate contract opportunities. These measures, he said, would enhance transparency and further boost investor confidence. While noting that a good number of Nigerians had been motivated by the Nigerian Oil and Gas Industry Content Development (NOGICD) Act to acquire high cost marine vessels and oil rigs, the minister

assured that the Act’s provision of first consideration for Nigerian-owned assets shall always apply in tenders related to utilisation of rigs or marine vessels. With the emergence of a new crop of indigenous owners of marine vessels, he stated that the new focus was on the local construction of vessels, adding that an assessment of shipyards was ongoing and that government would provide incentives and enablers that will aid local yards to construct vessels at competitive cost. While expressing gladness that some firms, including the Lagos Deep Offshore Logistics Base (LADOL), had accessed the Nigerian Content Development Fund (NCDF) for its ongoing fabrication and integration yard expansion, the minister regretted the challenges faced by some other companies in accessing the NCDF. He stated that government was currently reviewing the operating model for the NCDF, adding that “it is my hope that

the revised model will see increasing number of Nigerians accessing NCDF for commercial and developmental interventions.” Speaking further, Kachikwu charged Nigerians to keep faith with the local content policy as an instrument for the industrialisation of the economy, noting that other prosperous jurisdictions succeeded because they adopted their preferred development policies and sustained the programmes for long periods. He challenged the National Assembly to consider the possibility of expanding the provisions of the Nigerian Content Act to other sectors of the economy, especially information and communication, automobile, construction and power for maximum socio-economic gains. He further solicited the support of the private sector and the international community for Nigerian Content implementation, assuring that the Act is not intended to drive foreigners out of the industry, but to encourage domiciliation of industry activities incountry through genuine partnerships.

NEWS

MONday, APRIL 18, 2016 NEW TELEGRAPH

NLC cautions Senate on amendment of CCB, CCT Acts

Yekeen Nurudeen and Tunde Oyesina Abuja

he Nigerian Labour Congress (NLC) has cautioned the Senate over the amendment of the Acts establishing the Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT). The congress said, in spite of the spirited defence by the Deputy Senate President, Ike Ekwerema-

du, to justify the reasons for the amendment of the Acts, not a few believe that this legislative move was a desperate attempt to scuttle the trial of the Senate President, Dr. Bukola Saraki, at CCT. NLC, in a statement titled "A Dangerous Amendment" signed by its president, Comrade Ayuba Wabba, in Abuja yesterday expressed concerns over the timing and motives behind the amendment, which has already passed

first and second reading on the floor of the Senate. Wabba stated that the timing of the amendment was suspect and fraught with danger. The statement reads: "In the past one week, the Senate initiated a process for the amendment of the Act establishing the Code of Conduct Bureau and the Code of Conduct Tribunal (CCT). “In furtherance of its objective, the Senate fasttracked the process of this

amendment via two readings (first and second) within 48 hours. It has also set in motion the process for removing the jurisdictional powers of CCT on criminal matters via the amendment of the Administration of the Criminal Justice Act. “In consideration of the fact that sometimes in most climes, corruption trials are triggered by reasons other than corruption, it makes a lot of sense to create legislations that guar-

L-R: Head, Media Management, Nigerian Communications Commission (NCC), Sonny Aragba-Akpore; Deputy Director, Spectrum Administration, Oluwatoyin Asaju; Director, Mr. Augustine Nwaulune; Head, Public Relations, Reuben Muoka and Head, Online Media and Special Publications, Okoh Aihe, at a media briefing on the upcoming auction of 2.6GHz spectrum in Lagos… recently.

Buhari to establish special forces against pipeline vandalism CONTINUED FROM PAGE 1

we contain the vandalism and overhaul security." The permanent pipeline security force is an option currently being looked at by the Federal Government, Osinbajo said. He said the present administration was concerned about both the loss of gas supply to power plants in the country and significant loss of potential revenue. Recently, he said this has arisen from the damaged Forcados Export Terminal. In this regard, the vice president called for an expedited repair of the strategic terminal operated by Shell, and the activation of an alternative process to ameliorate the gas supply deficit. Osinbajo, who was accompanied on the facility tour by Governor Ifeanyi Okowa, said Buhari was concerned about the damage done to the terminal in February and asked him to visit and assess the situation which has been responsible for the recent drop in electricity supply in the country. "The president is equally concerned that the gas projects under the disposal of Shell meant to beef up domestic supply of gas in the country needs to be speedily completed,” he said. Osinbajo, who also met with top officials of Shell that runs the terminal and senior officials of the Nige-

rian National Petroleum Corporation (NNPC) after they flew over the location of the terminal, told the officials that "what is going on here affects the Nigerian people and the economy," referring to the loss of gas supply to power plants and the loss of potential foreign exchange earning arising from the inability to produce over 250,000 barrels of oil per day, due to the damage done to the terminal. "The damage done to Forcados affects our oil earnings, but also as important is the power aspect. It (Forcados) is a major source of gas, about 40 per cent of our gas supply is affected, leading to the problem of power supply in the country," the vice president told Shell officials led by Country Chairperson, Mr. Osagie Okunbor, and NNPC officials led by Mr. Bello Rabiu, the Chief Operating Officer for Upstream. The vice president noted that a few months ago, power supply in the country had peaked at an unprecedented 5000MV, but now has dropped significantly, including instances of system collapses. According to him, "I came here on the instruction of the president who is concerned about the damage done to Forcados. I came here to see for myself and underscore the great implication for the nation's economy. Many people don't even know that

power supply is hampered by what is going on here." The vice president asked Shell to do "whatever else can be done and do it as expeditiously as possible," to repair the damaged terminal. A repair plan presented to the vice president during the visit by Shell indicated that the repair work, which is in three phases, is about concluding its first phase with expectation that the repair would be concluded in May. NNPC also presented an interim alternative plan to supply gas to the plants including trucking condensate. The vice president expressed the concern of the Federal Government that international oil companies (IOCs) that seat on 80 per cent of gas deposits in the country have not been as forthcoming regarding gas supply to the domestic market. "Even if it is as a matter of public service," Osinbajo said. “We are clearly suffering in terms of domestic supply." He cited the need for Shell to speedily complete the Bonga and Forcados/ Yokri gas projects in order to assuage the plight of the Nigerian people. According to him, "the president is particularly concerned about this outstanding gas projects." “The damage done to Forcados terminal is the

chief reason for the poor power supply that has affected the country recently. "We went to Forcados to see for ourselves the sabotage done to our pipelines. The damage done has led to low supply of gas and most of the power plants are not functioning to maximum capacity," Osinbajo stated. The Bonga Gas Diversion project would provide 120mmscf/d when completed by the second quarter of this year, while the Forcados/Yokri gas project would provide 80mmscf/d at completion expected at the same timeline. There is also the Assa North/Ohaji South project, which can also provide 500mmscf/d. Also commenting on the issue, Governor Okowa lamented that "the Forcados terminal is important to Delta State and the nation. That is where SPDC evacuates its products, and other land operations including Seplat evacuating products from there for sale. Now, all the production on land by SPDC is shortened.”

€50m

The estimated transfer value of Sergio Busquets of Barcelona in 2016. Source: 101greatgoals.com

The life expectancy of men at birth of Finland in 2010-2015. Source: Un.org

antee fair trial and justice for the accused. Secondly, legislative amendments are part of the constitutional functions or duties of the National Assembly. “However, we at the Nigeria Labour Congress hold the view that the noble intention of the Senate notwithstanding, the timing is suspect and fraught with danger. It is quite intriguing that it took the trial of the Senate President for the Senate to discover these flaws in the law(s). “Putting it bluntly, in spite of the spirited defences by the Deputy Senate President to the contrary, not a few believe that this legislative move is a desperate attempt to scuttle the trial of the Senate President, Dr. Bukola Saraki, at CCT. “On our part, we do not think the privileges of the Senate President extend to exemptions from civil or criminal trials. “At the moment, only the president and his vice, the governor and his deputy enjoy this rare privilege. Thus, what the Senate is trying to do is no more than a legislative ambush. “We need not remind the Senate that we are all equal or ought to be equal before the law, in spite of our situations in life. We similarly believe that the fight against corruption should be total and not selective. If this amendment, therefore, is allowed

to scale through, it would have set a dangerous precedent.” Meanwhile, the SocioEconomic Rights and Accountability Project (SERAP) has dragged the Senate before the United Nations Committee on Human Rights over the ongoing amendment of the CCT and CCB Acts. The group, in a petition to the UN Special Rapporteur on Extreme Poverty and Human Rights, Professor Philip Alston, asked him to use his good offices and position to urgently request the Senate to withdraw amendments to the Code of Conduct Bureau and Code of Conduct Tribunal Act which, if passed into law, would seriously weaken the act, undermine the fight against corruption in the country, exacerbate extreme poverty and violations of internationally-recognised human rights. In a petition dated April 15 and signed by SERAP executive director, Adetokunbo Mumuni, the organisation expressed concern that the Senate will, any moment from now, pass amendments to Public Officers Protection Act; Administration of Criminal Justice Act; Code of Conduct Bureau Act and the Code of Conduct Tribunal Act with the political objective of securing a soft-landing for Saraki.

Zoning divides PDP CONTINUED FROM PAGE 2

lobbying for the position. He was said to have reached out to some stakeholders, including former Chairman of the Board of Trustees (BoT) for support. The National Chairman also played host to former elected governors and deputy governors who are still in the party. A national officer of the party confided in New Telegraph that Sheriff wants to remain in office till 2018, but said this is contrary to PDP constitution, which allows four-year tenure. "The issue is nobody can say I want to become a chairman from now till 2018; the constitution says no. We have no grudge against him (Sheriff) becoming chairman, but he should follow the constitution strictly," he said. Acting Chairman of the BoT, Senator Walid Jubrin, advised Sheriff to shun praise singers who want him to remain in office beyond the three months approved by various organs of the party. "The recent courtesy calls to the national chairman and the presentations being made, especially calling him to continue

beyond the stipulated three-month tenure, is an invitation to trouble, anarchy and the return of impunity in PDP," Jubrin stated. Last week, a branded vehicle with the picture of the National Chairman suddenly appeared at the PDP National Secretariat in Abuja. The branded campaign vehicle (a Honda Pilot), which was sponsored by the North West Youth Organisation (Sokoto, Kebbi and Zamfara), parked all day at the PDP National Secretariat. PDP National Publicity Secretary, Chief Olisa Metuh, described the organisation as "overzealous people.” "The chairman has not even said he is contesting; the zoning committee has not submitted its report. The chairman is not even aware of this, he did not come to office today," Metuh had said. He, however, agreed that there was nothing wrong in an individual or group campaigning for a candidate of their choice. Sheriff was elected in February to serve out the tenure of the North-East.

NEWS

MONday, APRIL 18, 2016 NEW TELEGRAPH

Budget: APC to sue National Assembly Johnchuks Onuanyim Abuja

he South-South Chapter of the All Progressives Congress (APC) has threatened to drag the National Assembly to court for allegedly altering the provisions of the 2016 Appropriation Bill which resulted in the removal of the Lagos-Calabar rail project from the budget. The chapter also berated the lawmakers from the South-South for their apparent indifference to the alteration of the budget said to have been masterminded by the Chairmen of the Appropriation Committees in both the Senate and House of Representatives. National Vice Chairman of the APC (SouthSouth), Prince Hilliard Eta, who made the position of the zone known on the

The life expectancy of women at birth of Finland in 20102015. Source: Un.org

controversy trailing the budget, stated that it was high time that the powers of the National Assembly were challenged in court to resolve the perennial tussle between the executive and legislature over who has the power to appropriate funds. Eta expressed disappointment over the removal of the Lagos-Calabar rail line project from the passed budget and warned the federal lawmakers to desist from actions capable of truncating President Muhammadu Buhari's plans to develop the country. He berated the Chairmen of the Committees on Appropriation in both chambers, Senator Danjuma Goje and Hon. Abdulmumin Jibrin, accusing them of being the brains behind the alterations in the budget. Eta said: "We are very upset that our represen-

tatives at the National Assembly would discard decorum and hinder progressive change by acting at variance with the infrastructure development agenda of the APC-led federal government. The arbitrary removal of the Lagos–Calabar rail track by the National Assembly from the 2016 budget is a display of depraved indifference to the welfare of Nigerians. The deletion is not just arbitrary; it is a big disservice to the people of Nigeria, particularly the South-South zone, which the proposed railway track would have traversed. "Also, the total rehabilitation of the collapsed and terrible Calabar–Odukpani–Itu–Ikot Ekpene federal highway which was allotted N6 billion by the federal government in the

£76.34m

L-R: Former Chairman, Nigerian Institute of Public Relations (NIPR), Lagos State Chapter, Mr. Gbade Sanda; former Chairperson, Lagos Chapter, Mrs. Nkechi AlliBalogun; President, NIPR, Dr. Rotimi Oladele; Senator Joseph Waku and Council member, Mr. Kabiru Ibn Muhammad, during the NIPR 2016 National Conference in Ibadan

The total aggregate payments received by West Ham for the English 2014/2015 season. Source: Goal.com

FG agencies engage in secret recruitment CONTINUED FROM PAGE 3

departments, agencies and other bodies affected by this Act must have a clear criteria indicating the conditions to be fulfilled and comprehensive guidelines on the procedure for determining eligibility and the procedure for employment in the public and private sectors of the economy.” In addition, Article 3 of the Federal Character Commission Handbook 2011 stipulates that: a) Each MDA shall ensure proper manpower planning in accordance with its authorised staffing/manning level. b) When there is a need to recruit staff; available vacancies shall be harvested and identified cadre by cadre. c) The spread of all vacancies to be filled shall be pre-determined in relation to current levels of (Federal Character) representation, by states or geopolitical zones at a joint meeting of the recruiting MDA and FCC. d) All vacancies shall be advertised in at least two newspapers circulating nationally, giving prospective candidates a minimum of six weeks within which to apply. Similarly, Article 5 of the FCC Handbook says: “At the close of advertisement and from long list of all applications received, a shortlist of qualified candidates shall be compiled for interview.” Article 6 (a) of the FCC

Handbook stipulates, “the list of successful candidates shall be compiled and a special joint meeting of the affected MDA and FCC, matched for consistency, with the predetermined distribution formulae.” Article 7(a) of the FCC Handbook stipulates that “A Certificate of Compliance with the FCC shall be issued as final authority for the release of letters of appointment to the successful candidates by the recruiting MDA.” Article 7.b says “No MDA shall issue letters of appointment to candidates without this Certificate.” Article 7(f) goes further to say, “the list of successful candidates shall be published in at least two newspapers circulating nationally by the MDA.” There is yet no evidence that the Federal Character Commission (FCC) was aware of the said recruitment by the FIRS, NIS, NCDSC or any other agency of government. However, the FIRS spokesperson, Mr. Wahab Gbadamosi, has denied that his organisation had recruited 215 employees secretly. Gbadamosi told New Telegraph that the management was aware of the speculations but assured that FIRS would follow the rules and procedures guiding staff recruitment whenever the time comes to recruit workers into its fold.

budget was doctored and almost N5 billion removed and reallocated to a nonexistent project in the constituency of the Chairman of the House of Representatives Appropriation Committee, Abdulmumin Jibrin in Kano State. "By these two acts, the Senate and House of Representatives displayed the astonishing contempt in which they hold Nigerians. The National Assembly exists to ensure that Nigerians get the best from their government using the instrument of purposeful legislation, but the Eighth Assembly, by this budget padding debacle, has not only brought itself to ridicule, it has also proved itself unworthy of the trust and confidence of Nigerians. "It is pertinent to, at this

point, conduct a re-examination of the powers of the legislature to establish if really it has the power to doctor and alter projects or totally remove them from the budget even after the minister under whose ministry the said projects fell under had credibly defended them and justified their inclusion. "As a party in the SouthSouth zone, we make public our disenchantment with the National Assembly and we are particularly disappointed by the Chairman of the Senate Appropriation Committee, Senator Danjuma Goje and his counterpart in the House of Representatives, Hon. Abdulmumin Jibrin who directly supervised and even actively abetted such debauchery." The South South Chap-

ter of the APC demanded that the 2016 budget be reverted to its original form and all the development projects conceived and included in the budget by the federal government be retained without alteration. They also advised the legislature to refrain from giving the administration of Buhari a bad image by attempting to deprive Nigerians of the dividends of democracy. It said that in the coming days, the party would approach the courts of the land for a clear interpretation of the role of the National Assembly in the budget process as it had become evident that it overstepped its bounds by "unnecessarily tinkering" with the budget when its constitutional duty was mainly supervisory.

African Finance Ministers okay currency devaluation lEndorse economic diversification

Tony Chukwunyem

inance Ministers of 15 African countries including Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, have agreed on the need for oil exporting nations on the continent to adjust their currencies and embark on economic diversification. These are part of measures to address slowing growth and the difficult external environment. The ministers, who belong to the African Caucus of the African Consultative Group, stated this during the Group’s meeting yesterday at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank. The decision to embrace currency adjustment comes against the background of repeated opposition by President Muhammadu Buhari to calls by the IMF and foreign investors for the naira to be devalued. Nigeria, Africa's big-

gest economy, is facing its worst crisis in decades, as the falling price of oil has slashed revenues, prompting the central bank to peg the currency and introduce curbs to protect foreign exchange reserves, which have fallen to 11year lows. But the African Finance Ministers pointed out that owing to the sharp drop in commodity prices and tighter financial conditions, growth in Africa is projected to decline to about 3 per cent in 2016, the lowest level in a long while. They said: “We concurred that the decline in commodity prices is likely to be long lasting, as the causes seem structural rather than temporary – including the ongoing rebalancing of demand in China and, in the case of oil, technological innovation that has enhanced supply. We also recognised that non-economic shocks such as weather- and security-related challenges, are posing downside risks to Africa’s economic prospects.

“Against this backdrop, we agreed that prompt fiscal adjustment is needed to safeguard macroeconomic stability and rebuild policy buffers across the region, especially in oil-exporting countries. We also concurred that, in pursuing these consolidation efforts, country authorities should aim at protecting priority expenditures, such as social expenditures and wellprioritised and efficient infrastructure spending, with a view to ensuring that longer-term development goals remain achievable.” Besides, they agreed that, where feasible, the exchange rate should be allowed to adjust as needed to absorb shocks and improve competitiveness, with central banks’ interventions limited to mitigating disorderly market movements. In addition, the ministers emphasised the need for African countries to revitalise their economic diversification agenda as well as introducing structural reforms that will

improve the business environment. As the Group’s Chairman, Mr. Abdoulaye Bio-Tchané, puts it, “It is indispensable for African countries to adapt policies to the new environment and use all tools at their disposal – fiscal, monetary, exchange rate and structural policies to preserve hard-won macroeconomic stability, contain social impact, further strengthen our economies’ resilience to shocks, and support growth”. The African Consultative Group comprises the IMF Governors of a subset of 15 African countries belonging to the African Caucus (African finance ministers and central bank governors) and Fund management. It was formed in 2007 to enhance the IMF’s policy dialogue with the African Caucus. The Group meets at the time of the Spring Meetings, while Fund Management meets with the full membership of the African Caucus at the time of the IMF/ World Bank Annual Meetings

NEWS | national

monday, APRIL 18, 2016 NEW TELEGRAPH

Senators disagree on revisiting 2016 budget Chukwu David Abuja

ontroversy yesterday continued to trail the 2016 Appropriation Bill in the Senate as some of the senators disagree on the request by the Presidency that the National Assembly should revisit the passed bill. While some of them agreed that the contentious fiscal proposals passed by the National Assembly last month should be reconsidered in order to capture certain omissions, others insist that President Muhammadu Buhari

should sign the bill into law and then present supplementary proposals for approval. Meanwhile, the House of Representatives last week indicated its willingness to bend backwards and yield to the demand of President Buhari that the budget should be revisited to accommodate omissions recorded in the passed document. The Leader of the Senate, Mohammed Ali Ndume (APC, Borno South), told our correspondent that the upper chamber would liaise with the House in its resolution to revisit the budget if it became necessary. He argued that the

National Assembly was only empowered by the Constitution to produce one harmonised budget for Nigerians and not fragments or different versions of the budget. Also commenting on the matter, spokesman for the Senate, Senator Aliyu Sabi, said there was no division between the Senate and the House of Representatives on the issue of 2016 budget. He, however, clarified that the resolution of the

N1.44bn

The IGR realized from other revenue sources of Plateau State in 2012. Source: National Bureau of Statistics

House to revisit the budget did not mean going back to start the process of its passage afresh, explaining that the upper chamber was also not against the inclusion of Calabar-Lagos rail project in the 2016 budget. He said: "We have one single national budget in a year. If we say we are going to follow a particular provision of the constitution, then we have to do what needed to be done now. So, there is no difference between what we are saying in the Senate and the position of the House of Representatives to revisit the issue. "Revisiting the issue of budget means that

Executive Secretary, National Universities Commission (NUC) , Prof. Julius Okojie (left), with the Alafin of Oyo, Oba Lamidi Olayiwola Adeyemi, during the 40th Anniversary and Convocation ceremony University of Maiduguri in Maiduguri…at the weekend

ore reactions have trailed Ekiti Governor, Ayodele Fayose's letter to the Chinese Government, asking it to refuse President Muhammadu Buhari's request of $2 billion loan. Chairmen of the Nigerian Bar Association (NBA) in Lagos State and other lawyers yesterday condemned Fayose's action, describing it as mere irritation and inconsequential. The News Agency of Nigeria (NAN) reports that President Buhari had last week paid a state visit to the People's Republic of China with some state governors, the Central Bank governor and some ministers. The president had concluded negotiations for the loan and a currency swap deal with the Chinese authorities as part of efforts to revive the Nigerian economy in the face of dwindling oil revenues. On April 12, Fayose had reportedly jetted out to China while Buhari was there, urging the Chinese authorities to refuse the facility being requested by the Nigerian Government. He said: ``All Nigerians", irrespective of their political and religious affiliations were against

the House of Representatives are also considering incorporating supplementary budget. When you are revisiting something that means you are not done with it. There is only one single budget. "We in the Senate have

made it very clear that we are not opposed to that (Calabar - Lagos) project. It is a very important national project and we support it. National Assembly is one and we are working together. There is no conflict, there is no difference," he stressed.

Appeal Court sits in Awka three decades after

he Court of Appeal will for the first time in more than three decades sit in Awka, the Anambra State capital, for a week beginning from today. The Attorney-General and Commissioner for Justice in Anambra State, Mr. Anali Chude, confirmed this in an interview with the News Agency of Nigeria (NAN) in Awka yesterday. He said the court session would involve six judges, who would hold two sittings simultane-

ously. Anali said the Court of Appeal would hold hearings on 75 appeals from the state. “Previously, the Court of Appeal in Enugu was handling all appeals. “This could be a test run for the court which could want to set up a permanent Court of Appeal in Awka. “We gathered that about 80 per cent of the cases on appeal within the division emanate from Anambra,’’ he said.

We must encourage our creative industry, says Minister Tony Okuyeme and Andrew Okungbowa

$2bn loan: Lagos NBA chiefs, others chide Fayose over letter to Chinese govt any applications for new foreign loans." This, he said, was on the grounds that servicing current debt burden already gulps over 25 per cent of the country’s annual budget. Reacting to Fayose's letter, a former Chairman of Ikeja Branch of NBA, Mr Onyekachi Ubani, described the letter as of no consequence, since negotiations had already been concluded. "The letter by Fayose is similar to a situation of bringing a motion for a court injunction for a completed act. "This letter is a mere irritation especially coming from a sitting governor; I will urge Nigerians and especially journalists to regard his letter as nothing, but a mere irritation. "Negotiations are already concluded and the Chinese government are willing to release funds to Nigeria. "Although, it is very disheartening that such a letter is coming from one of our governors, but I think

it serves no purpose," he told NAN. Ubani, therefore, urged Nigerians to resist any act capable of disrupting the smooth running of government. In the same vein, the Ikeja Branch Chairman of NBA, Mr Yinka Farobi, described the letter as "over stepping of one's boundaries". "Fayose was elected as a state governor and not as the president of Nigeria. "His letter is clearly out of the purview of his

powers and I seriously condemn it," he said. Farobi also urged Nigerians to be supportive of moves aimed at transforming the Nigerian nation for growth. Again, the Ikorodu NBA Branch Chairman, Mr Dotun Adetunji, described the letter as a show of rascality. He noted that although ``there is a provision for immunity for a sitting governor, there must also be a limit on the activities of a leader."

he Minister of Information and Culture, Alhaji Lai Mohammed, has assured Nigerians of government’s commitment to the promotion and provision of enabling environment for the creative industry to thrive. He said that there was a lot of money to be made in the creative industry. The Minister gave the assurance at an interactive session with the media, held in Lagos yesterday. Mohammed said: “This administration is diversifying the economy away from oil, which for many years has been the main stay of our economy. Among the sectors that have been identified as major sources of revenue is the arts and culture sector. This is why we are working very hard to

Frank: Oyegun's opinion on Saraki's trial personal Johnchuks Onuanyim Abuja

he Deputy National Publicity Secretary, Timi Frank, has faulted the statement attributed to the All Progressives Congress (APC) National Chairman, Chief John Odigie-Oyegun, on the trial of the Senate President, Dr. Bukola Saraki, by the Code of Conduct Tribunal (CCT).

According to Frank, the views expressed by the APC national chairman on Saraki's trial was his personal opinion as it was never discussed by any organ of the party. Oyegun, in an interview had stated that President Muhammadu Buhari would not intervene in the trial of the Senate President. According to him, if the President should interfere by asking the

court to drop the charges against him, it also means that the President can ask the court to jail somebody. Also, the party's national chairman stated that his (Saraki's) removal would not make the party lose the Senate President’s seat to the opposition Peoples Democratic Party (PDP), but should that happen it would be sacrifice for change.

make this sector a major source of revenue for the country. “We are reviving our creative arts through capacity building. We believe this will also create jobs even in the rural areas, and stem the ruralurban migration. “What we are doing is to bring life to the creative industry and allow it to become a major for the nation’s economy. “Today most of our monuments are in danger of extinction." We must not neglect our creative industry; it is a goldmine. It is important for the country to put in place a tourism friendly policy.” The Minister added that that was part of the reason for the forthcoming Culture and Tourism Summit which will hold in Abuja. He also said there was the need to train festival managers and create a good market for people in Diaspora to be aware. “We are working for endowment for art so that we start from there. The national endowment will help the artists. The creative industry is a gold mine we are sitting on. “There is a lot of money to be made in the creative industry. So, we must not forget our creative industry. “We need to diversify our economy through the creative industry - arts, culture and tourism,” the Minister said.

News|nATIONAL

monDAY, APRIL 18, 2016 NEW TELEGRAPH

Oyegun: Fayose, critics of Buhari, ignorant Cajetan Mmuta BENIN

he National Chairman of the All Progressives Congress (APC), Chief John Odigie Oyegun, at the weekend blasted the Ekiti State Governor, Ayodele Fayose and critics of President Muhammudu Burhari’s oversea trips. He accused them of insensitivity and display of ignorance on issues affecting the country and her governance. He reminded the opposition that President Buhari won the 2015 Presidential election on the basis of his personal credentials, experience and respect he commands not only in the country but also across the world and therefore was on a mission to quickly rescue the nation from her present socio-political and economic challenges. Oyegun stated this while fielding questions from newsmen in Benin, Edo state capital. He noted that forces of darkness and economic saboteurs opposed to the nation’s growth and development were bent on frustrating the efforts of the APC-led administration under President Buhari in his poise to rescue the polity from the ongoing fuel crisis and to revitalize the ailing economy. It would be recalled that Fayose had last week alleg-

edly written a letter to the Chinese government asking it to shun President Buhari’s proposal to secure about $6 billion loan for Nigeria. But Oyegun in reaction said: “Most people do not recognize the very sorry state of the nation’s economy and the fact that the country’s economy was ran aground and crashed economy which contributed in no small measure towards the crash of crude oil from N120 per barrel to a miserable N30 to N40 per barrel at the international market. The journey of Mr. Presi-

dent, what makes me sad is that if there is anybody who does not recognize the fact that Nigeria has almost become a paralyzed state, the fact we have no respect from all over the world and the reality that every sector was grounded but APC won the election based on the personal credibility of President Muhammadu Buahri, based on the credibility and the respect he commands not only in Nigeria but the world over”. He warned that, “I hope Fayose did not really do what we are told he did. I don’t think even he is ca-

Abuja

espite the increase in the number of candidates who seek admission into the 104 Federal Government Colleges otherwise known as Unity Schools, the Federal Government has ruled out plans to construct more colleges to take care of the surplus candidates. “The problem is not the number of Unity colleges. Rather, we intend to focus on the quality of teachers, so as to boost the output. We are regulating the system in such a way that teachers who will be deployed to teach in these schools will not be doing so just because they lack other meaningful jobs,” Minister of State for Education, Professor Anthony Anwuka, stated this on Saturday in Abuja after moving round centres where candidates wrote the National Common Entrance examination . No fewer than 90,786 candidates sat for the examination which was organised by the National Examination Council (NECO)

Boko Haram: Army’ll continue to partner media –COAS Ahmed Miringa Maiduguri

he Chief of Army Staff (COAS), Lt. General Tukur Buratai, has assured Nigerians that the Army will continue to partner with the media in its fight against insurgency and in the post insurgency era. Buratai, who disclosed during the weekend while commissioning a studio of the Nigerian Television Authority (NTA) Maiduguri renovated by the Army, said the media has a great role to play in the fight against

insurgency and post insurgency programme of the Federal Government. He said: “I commended the role of the media in our fight against insurgency in the North-East, particularly the NTA. You know the fight against insurgency is not for the military and security agencies alone but a collective responsibility which the media have a great role to enlighten the general public” “I am impressed with the way the media, both electronic and print, have been assisting the military in the war against insurgency. I assure you that the army will continue to partner with the media more especially in the post insurgency programmes of the Federal Government.”

Experts tasks Buhari on safety laws Muritala Ayinla

S Illegal petrol sellers at the NNPC mega station in Abuja… at the weekend. PHOTO: NAN

No plan to build more Unity Schools –FG Yekeen Nurudeen

pable of descending into these low depth but if he did, I feel sorry for him and the people of the state. Nigerians should ask Fayose what was he doing in China? Anyway, we are not bothered. The president is not bothered. A man who could put his father in his car boot what do you expect from him?’’ According to him: “In a situation where the world has become a global village, the President has taken his prestige and time around the whole world to polish our image which has been badly damaged.”

The current deployment of electricity (TWh/year) in small hydro market area of Asia in 1995. Source: Unesco.org

The life expectancy of women at age 60 years of Finland in 2010-2015. Source: Un.org

The Minister said government would focus on improving teaching quality through capacity building for teachers. But out of the total these numbers of candidates, who sat for the examination in over four hundred centres across the country ,only about 26,000 will eventually gain admission into the 104 Unity Colleges. According to the Minister, Lagos State recorded the highest enrolment with 25,963 candidates, who applied for the examination, while Zamfara had the least registration with just 103 candidates. Also improvements in the fight against insurgency by the Federal Government, however reflected

in the enrolment for the examination with a total of 307 candidates putting in for the examination in Borno State, 402 enrolled in Yobe and 347 in Adamawa State respectively. “I have seen some very young Nigerians in some of the designated centres, I have visited, who have had dreams of successful transition from primary to secondary level of education. “These students are here to give meaning and sense to those dreams. However, a cursory analysis of those who entered for the examination shows that 90,786 candidates enrolled for it nationwide. The state with the highest registration is Lagos with 25,963 candidates, while Zamfara state recorded the least registration with 103 candidates “Talking about the states affected by insurgency, regular students in Adamawa state were 313, while those in IDP camps were 34, totalling 347. Regular students from Borno State were 187, IDPs 120, totaling 307 from Borno. Lastly, regular candidates from Yobe were 387 those in IDP camps 15 totalling 102.”

Workers want Buhari to invest recovered funds into employment Yekeen Nurudeen Abuja

he Nigeria Civil Service Union (NCSU) has urged President Muhammadu Buhari to put monies recovered from looters into employment generating ventures to reduce the alarming unemployment rate in the country. The union, in a communiqué, jointly signed by its President, Comrade Kiri Mohammed and the acting General Secretary, F C. Ifoh, at the end of the Special Delegates Conference, also expressed concerned

over the current economic recession due to crude oil price fall which has made it difficult for regular payment of salaries. The civil servants, however, warned against government at all levels using the situation to deliberately denying workers their salaries, and urged them to develop other sectors of the economy which were neglected over time. On the fight against corruption, the workers called on politicians to adequately reduce their political aides so as to save resources to meet other developmental programmes.

afety Experts have tasked President Muhammadu Buhari to consider a promulgation of Occupational Health and Safety Law in line with international best practices. That, according to them, would help in reducing the level of accidents within the country. The Safety Advocacy and Empowerment Foundation, who disclosed this in collaboration with other Safety Organisations, lamented the nation’s attitude towards safety, saying hundreds of lives have been needlessly lost to avoidable disasters. Hence, the experts, in a statement signed by Shamusideen Kadiri, called on the Minister of Labour and Employment, Dr. Chris Ngige, to convene an Occupational Health and Safety (OHS) Stakeholders Summit that would produce strategic and sustainable OHS action plan for the country.

CCT power outage: Saraki’s loyalist denies complicity Philip Nyam

Abuja

hairman of the House of Representatives Committee on Basic Education and a strong supporter of senate president, Hon. Zakari Mohammed, has denied causing power blackout during the last appearance of Dr. Bukola Saraki at the Code of Conduct Tribunal (CCT) in Abuja. Zakari, a former spokes-

man for the House, in a statement released at the weekend, said: “I have read a story in Saharareporters which insinuated that I was behind outage last Wednesday at the sitting of the Code of Conduct Tribunal (CCT) during the ongoing trial of the President of the Senate, His Excellency, Dr. Bukola Saraki” According to the lawmaker, “the said publication was not only false but an outright balderdash, sheer rubbish and a deliberate at-

tempt to use this medium to tarnish my hard-earned reputation. The so-called stage-managed and politically-motivated report was designed to hoodwink unsuspecting public to believe that I am a violent political office holder. “To set the records straight, I had no hands in the outage at the CCT Tribunal. I have no relationship with any staff or technicians at the tribunal which would have made me to influence the outage”

monDAY, APRIL 18, 2016 NEW TELEGRAPH

METRO Navy recovers 27 kegs of stolen fuel Flora Onwudiwe

igerian Navy has impounded a wooden boat loaded with 27 jerrycans of stolen Premium Motor Spirit (PMS) otherwise called petrol from suspected pipeline vandals at Atlas Cove area of Lagos. The vandals abandoned the wooden boat on sighting the naval men and fled into the bush. The operation, which was led by the Nigerian Navy Ship (NNS) BEECROFT, was carried out at Ilado 1, Akaraba, Robot, Ilashe and Abule Glass, which are between Takwa Bay and Badagry creeks. The Commander, NNS BEECROFT, Commodore Abraham Adaji, told journalists that Navy was determined to rid the country’s waterways of oil thieves and vandals. He said: “All measures are being explored to ensure pipeline vandalism for crude oil theft comes to an end. “One of the measures the Nigerian National Petroleum Corporation (NNPC) is also exploring is partnership with local authorities that are closest to where these assets are and it is in that sense that we have the men of the Kings Guard. “They are men with some roots in the community who live in the area and they will be the first to know if anything is going on. These men have just been brought on board to work with other security agencies mainly to provide intelligence and presence which has a very significant deterrence value.”

ABIODUN BELLO abiodun.bello@newtelegraphonline.com 08023938212

...CRIME, CITY WATCH, COURTS

Girl, 6, killed at burial

Uchenna Inya ABAKALIKI

he leader of vigilantes at Umuhuali community in Ishielu Local Government Area of Ebonyi State, Mr. Peter Nwokpo, is now in police custody for allegedly killing a six-year-old girl, Chinaecherem Nwite. Four persons were also injured during the incident which occurred at Azuogbaagu village in the community during the burial of Peter Ude. A resident of the area, who gave his name simply as Okechukwu, said the family of the late Ude had invited Nwokpo and his team to the burial to assist in maintaining law and order when the incident occurred. He said: “We were at the burial of our kinsman, Ude, when we suddenly heard a gunshot from the vigilantes invited to the burial to maintain law and order. “After the gunshot, we saw a six-year-old girl shattered with bullet lying lifeless on the ground. We made inquiry and discovered that it was the vigilantes’ leader, Mr. Peter Nwokpo, who shot the girl. “People said it was accidental discharge. But I wonder what type of accidental

IG, Arase

discharge that will make someone to be shooting indiscriminately.” One of the victims, who sustained injuries during the

incident, Ahamefula Usulour, said the vigilantes’ leader had arrived at the burial with a pump action gun, cocked it and shot into the air.

Usulour said Nwokpo attempted to shoot more into the air but that it didn’t go through like the first one, making him to point the gun directly to where people were and shot the six-year-old girl in the process. He said: “We had warned the man to stop shooting when he shot the first one but he refused to listen to us. He was very drunk and that was why he didn’t listen to us and continued shooting.’’ When contacted, the state Police Public Relations Officer (PPRO), ASP George Okafor, confirmed the incident. He said: “On April 8, about 23:35 hours, Okechukwu Nwite of Azuogba-agu village, Umuhuali community in Ishielu Local Government Area of Ebonyi State reported to the police that on that fateful day around 18:45 hours while he was at the burial ceremony of late Peter Ude, of the same address, Peter Nwokpo, a member of the vigilance group, accidentally discharged a cartridge from his pump action gun which hit and killed a six-year-old girl, Chinaecherem Nwite.’’ Okafor said the police had arrested the suspect and that the body of the girl had been deposited in the mortuary. The PPRO said investigation into the matter had commenced while the police had taken possession of the gun.

City Briefs

NNF is building a new Nigeria, says Dozie 15-year-old gang-rape

Dozie (second left), AleleWilliams (third right) and others cutting the anniversary cake

Lanre Odukoya

usic, dance, culture were on display as New Nigeria Foundation (NNF), a non-governmental organisation that promotes sustainable community development initiatives through public private partnerships, celebrated its 15th anniversary in Lagos. The glamorous was attended by dignitaries from all walks of

life. Those who graced the occasion included NNF Board Chairman, Dr. Pascal Dozie, former Vice-Chancellor, University of Benin and NNF Vice-Chairman, Prof. Grace Alele-Williams, NNF Managing Director/CEO, Prof. Obafemi Ajibola, NNF Board member, Dr. Gabriel Soyoye, and former Vice-Chancellor, Ekiti State University, Prof. Akin Oyebode, who was the keynote speaker.

Speaking at the dinner, Dozie reiterated the foundation’s promise of maintaining a steady course to achieve its objective of promoting good causes to attain a better Nigeria. He said: “The journey of NNF so far has been encouraging. Though, some efforts have been made and achievements have been recorded, there are still some dark spots such as youth unemployment made worse by the fact that many of them are unemployable. The population of youths between 18 and 25 is a time bomb waiting to explode.” Oyebode, who spoke on ‘Building a New Nigeria that Works,’ said: “Nigeria is at a steep learning curve. That, however, will not deter us from transforming ourselves into proud members of the comity of nations and occupy our rightful place in the scheme of things.”

victim battles for life Uchenna Inya ABAKALIKI

15-year-old girl at Nkalaha community in Ishielu Local Government Area of Ebonyi State, Chinaka (surname withheld) is currently battling for survival at the Federal Teaching Hospital, Abakaliki, after she was gang raped by three boys. Chinaka was returning from a wake-keep at night when the boys waylaid her and threatened to kill her with a dagger if she refused to go with them. She said: “I was com-

ing back from a wake-keep when Chukwuma Nnaji, Onwudiwe and Izuchukwu Ede stopped me and brought out a dagger, threatening to kill me if I resist them. “They later took me to Chukwuma Nnaji’s house and had sex with me in turn. They later pushed me out of the house in pains that night.’’ The state Police Public Relations Officer (PPRO), ASP George Okafor, confirmed the incident. He said the suspects were at large and that efforts were being made to apprehend them. Okafor added that the victim was currently receiving treatment at the hospital.

METRO

monDAY, APRIL 18, 2016 NEW TELEGRAPH

Juliana Francis

family of six escaped police bullets during the weekend after a woman raised false alarm at Ogudu Ori-Oke, Ogudu, Lagos State, that robbers snatched her Toyota Camry car. The policeman, Inspector Christian Onawona, attached to the Rapid Response Squad (RRS) of Lagos State Police Command, said he would have killed some members of the family inside a Camry car, if not that he had applied wisdom. Instead of opening fire on the ‘supposedly escaping robbers’ car as some policemen would have done, Onawona shot into the air. The driver of the Camry quickly halted. When Onawona cautiously drew closer to the car, he realised that three women, one male and two kids were occupants of the car. It was later discovered that the woman who raised the false alarm did it deliberately because the owner of the

False alarm: Family of six escapes death Camry car was allegedly indebted to her husband. The woman, Lauretta Ehon, was said to have informed RRS operatives patrolling Ogundu axis around 5:30p.m., that some armed robbers just snatched her Toyota Camry car 2012. A police source said: “Onawona followed the complainant to give the supposed fleeing robbers a chase. There was a heavy traffic, but in order to catch up with the thieves, the officer alighted from his official vehicle, took a motorcycle and pursued the sup-

posed robbers. The occupants of the Camry car had no inkling that they were on the verge of being mistaken for robbers. “To prevent the robbers from making away with the Camry car marked EP 932 KRD, Onawona shot into air. Upon hearing the gunshot, the driver stopped immediately. Onawona cautiously approached the supposedly stolen Camry car only to discover that the occupants were three female, one male and two children.” The occupants of the vehicle were Sekinat San-

ni, Wasiu Balogun, Bisola Balogun and Rukayat Joseph. The children were Sameer Balogun (one) and Motunrayo Joseph (two), all family members going on a social outing. Police preliminary investigations revealed that the complainant, Mrs. Ehon, lied to the police. The police said that Mr. Ehon and the owner of the Camry, Mr. Balogun, had a business transaction six years ago, but the deal did not go through. The police said: “Mr.

Those who escaped death

I make more money stealing bikes –Bus driver Ezekiel Adesawe

father of three said he abandoned commercial bus driving to embrace stealing of motorcycles because he made more money from robbery.

The suspect, Ismaila Bankole (28), was last week nabbed with two others, Lateef Rasheed (26) and Kazeem Iyanda (22). They were held for stealing motorcycles parked them on the streets. The former commercial bus driver confessed that

Bankole (second left) and others

their area of operation was Iyana-Ipaja. He said: “One of the reasons I resorted to stealing motorcycles was to cater for my three children. I’m the only one they have. My wife is late. I was formerly a commercial bus driver, but the job wasn’t permanent. It wasn’t paying off for me. For instance, when I work half day, I make about N1,800. But when we steal a motorcycle, we sell it for N20,000. We share the money among ourselves. We just started doing this business. We have succeeded in stealing just two motorcycles.” According to Bankole, he and his gang members used giant iron cutters to cut the locks on the motor-

cycles before stealing and sell them to some dealers at the rate of N20,000. Another member of the gang, Rasheed, said he embraced robbery because of the road expansion project at Ijora. He said: “When government started the road expansion project at Ijora, my house and workshop were demolished. This left me homeless and without a place to do my mechanic work. It was because I needed money to start something that I decided to do this business. “Besides, I have a family to feed; my wife and child are there for me to take care. We have just stolen two motorcycles. We made N40,000, which we shared.”

Boy, 6, needs N6.5m for surgery T

he dream of parents of sixyear-old Ademola Mauyan was for him to acquire qualitative and functional education, live a fulfilled life and contribute to country’s development. But the dream seems to be crashing like a pack of cards. Ademola’s travails started when he was seven months’ old, after he was struck by a prolonged sickness and diagnosed with meningitis. The condition resulted to hearing impairment which has affected his speech development. Ademola has been in and out of hospitals since his first admission on May 15, 2010. According to a medical report by Dr. Irene Okeke-Igbokwe of Nigerian Army Audio Logical Centre, Yaba, Lagos on September 13, 2010, “Ademola was discovered to

Ademola

be unable to localise to the maximum output of audiometry conducted to determine the integrity of cochlear functions.” In simple terms, the six-year-old could no longer respond to sounds. Based on this development, Okeke-Igbokwe recommended that his parents should acquire for him early intervention ampli-

fication, speech evaluation therapy and total communication as well as habitation in his daily activities. However, on the recommendation, the parents got a hearing aid valued at N400,000, with a recharging battery every two weeks which is done at between N3,000 and N7,000 per session. But, unfortunately, the prescriptions failed to achieve the needed respite, as Ademola’s hearing did not improve. His father, Deacon Joseph Babalola, a self-employed economist, lamented how his son’s ailment has drastically affected his business. To undergo the surgery, Ademola will require N6.5 million as the cost of the Cochlea implant. To help Ademola regain his speech, well-spirited individuals and organisations can contact the editor.

Balogun and Mr. Ehon transacted a business which had to do with clearing of a second car from overseas. The vehicle went into demurrage after the client, Mr. Ehon, paid the clearing agent, Mr. Balogun. They,

however, settled the matter amicably between them because they both work in the same company at Apapa. But Mrs. Ehon vowed that she would collect the money from Mr. Balogun whenever she sees him.

Customs intercept N572m contraband Camillus Nnaji

ederal Operations Unit, FOU, Zone ‘A’ of the Nigeria Customs Service (NCS) said it intercepted contraband at the weekend. The unit Comptroller, Umar Dahiru, said that 4,911 bags of 50kg parboiled rice, 15,048 cartons of imported frozen poultry products, 1,884 kegs of vegetable oil and 17 trucks of unprocessed teak wood valued at N572.1 million were seized from smugglers at different routes within its axis of operation. Dahiru added that three brand new Toyota Prado ‘jeeps’ were also intercepted. The Nigeria Customs, it was gathered, had already asked the agents of the vehicles to produce the vehicles’ documents to determine their real status. The comptroller warned rice smugglers to adhere to govern-

ment’s recent directive on importation through the various seaports in the country. Dahiru said those who kept concealing smuggled frozen poultry products with fish and other banned items should be ready to face the full wrath of law as long as they were ready to circumvent the Federal Government fiscal policies on trade. He said: “We will continue to arrest and prosecute them as deterrent to others.” Dahiru disclosed the benefits of the recent visit made by the Comptroller-General of Customs, Col. Hammed Ali (rtd) to FOU, which had not only strengthened the service and stakeholders, but led to brainstorming on areas of challenge. He thanked the CGC for providing logistic support and delivery of new weapons, AK47 rifles and ammunition, to complement the ones in the armoury.

Some of the seized items

Ogun community gets international market Esther Bakare

n international market on a 20-acre of land has been located at Warewa community in Ifo Local Government Area of Ogun State. The Baale of Warewa, Chief Aina Ogundele, said the land for the market situated at Kilometre 30, Lagos-Ibadan Expressway was donated to the community by the Osholarogun family since 2010. According to him, residents of the community have been selling and buying by the road-side while government officials usually demolish their sheds because of closeness to the expressway. He said: “Looking at the agony our people have been

passing through over the years for their inability to find a suitable market place to sell their wares, the Osholarogun family decided to come to their aid by donating the land.” Ogundele, however, called on the Ifo Local Government to site its area office at the market to speed up development in Warewa. The baale also called on the state government to establish customary and magistrates’ courts in the community. He added: “All these are located in Ifo which is quite far from here and all our local cases which are supposed to be settled within our jurisdiction are taken there for settlement.” Ogundele complained that Warewa had not benefited from the state government in terms of dividends of democracy.

NEWS | national

Reps padded Agric Ministry budget with N12.6bn –Source

he trouble in the National Assembly over the 2016 budget is yet to abate as crisis is already budding in the House of Representatives on alleged fraudulent injection of projects worth billions of Naira by Committee leaders to the exclusion of members. Indications emerged yesterday that the House of Representatives' Committee on Appropriations smuggled new projects in the 2016 budget worth N12.6 billion without the knowledge of the entire membership of the committee. New Telegraph also learnt that the Committee earmarked the sum of N325 million for boreholes in 79 undisclosed rural communities in the country. It was learnt that aside the ministry's N40.918 billion budget proposal that was reduced to N31.618 billion by the National Assembly, the lawmakers allegedly inserted fresh 386 projects worth N12.6 billion The injected projects

in Agric sector are as follows: Main ministry N5.3 billion; Federal College of produce inspection and stored products, Kano N550.6million, Agric research and management institute, Ilorin, N225million; National centre for agric mechanisation, Ilorin, N422.4million, National Cereal Research Institute, Badeggi N257.5million, National veterinary research institute, N35million, and National root crops research institute, Umudike, N484million. Others are: National institute for Oil Palm Research, Benin, N177.8million; Institute of Agric Research, Zaria, N243.3million; National Animal Product Research Institute, Zaria N345.5million, National horticulture research institute, Ibadan N62million; Cocoa Research Institute, Ibadan, N90m; Institute of Agric Research and Training, Ibadan, N18million. Also included are: Rubber Research Institute,

Benin N70m; National Institute for fresh water fish, New Bussa, Niger State N205million, National Agric extension and research liaison services, Zaria N60million, Veterinary council of Nigeria N26.2million, Federal College of animal health and production, Ibadan N68.6million, Federal College of Agric, Akure, N342million. Federal College of Agric, Moore plantation, Ibadan N154.1million, Federal College of Agric, Ishiagu, N316million, Federal College of fresh water fisheries technology, New Nissan, N92million, Federal college of animal health and production, vomiting N83million, College of veterinary and medical laboratory, vomiting N50million. Others are Federal College of fresh water fisheries, Baggage N77.8million; Federal college of fisheries and marine technology, Lagos, N254million and Federal Cooperative College, Ibadan, N40million.

Others are: Federal Cooperative College, Kaduna, N270.2million, Federal Cooperative College, Oji River, N7million; Federal College of Land Resources Technology, Owerri N147million, Federal College of Land Resources, Kuru, Jos N35million, Federal College of Horticulture, Dadin Kowa, Gombe, N455.8million; and Nigerian stored product research, Illorin, N955.1million. Also padded in the budget are: National agriculture seeds council, N70million, Nigerian agricultural quarantine services, N50million; Agricultural research council of Nigeria, N150million; Lake Chad research institute, Maiduguri, N185million, and National Institute of Oceanography and Marine Research, N185million.

236

The number of fatalities in terrorists’ violence involving security force personnel in 1994. Source: Satp.org

monday, APRIL 18, 2016 NEW TELEGRAPH

NCAA: FG shops for new DG

Wole Shadare

he Federal Government has concluded plan to appoint a new Director-General for the Nigerian Civil Aviation Authority (NCAA). This is coming on the heel of administrative irregularities in the assumption of duty on appointment of the current Director General. The Ministry of Air transportation in Abuja hinted that the current Director General did not resign his former appointment as career civil servant with the Federal Government seconded to the Accident Investigation Bureau (AIB). A source in the ministry said that contravened

government regulations to assume a political office without first resigning a previous civil service appointment on attaining the mandatory 35 years of service or 60 years of age whichever comes first. Besides, the source said available records showed that the current director general 'is way past 60 years" of age. "Administratively, when your are appointed chief executive, you should retire your appointment as a civil servant before accepting the fresh position. In this case, from our records here in the ministry, even after leaving as CEO of AIB, he was still drawing salaries from AIB, while reporting here in Abuja "

Senator rejects amendment of CCB, CCT

Philip Nyam Abuja

s criticisms continue to trail hurried move by the Senate to amend the Code of Conduct Bureau and Tribunal Act, more senators seems to be dissociating themselves from the bill The latest is the Chairman of the Senate Committee on Police Affairs, Senator Abu Ibrahim, who has denied ever supporting the bill. A statement from his media consultant, Gabriel Agbonika, said his purported endorsement of the Code of Conduct Bureau and Tribunal

Amendment bill which was hurriedly passed through second reading on Thursday April 14 was untrue. Senator Abu Ibrahim, who is currently in Egypt undergoing optical medical check up has emphatically denied his involvement in the bill as he claimed never to have seen the bill nor participated in the debate leading to it speedy second reading. In the words of Sen. Abu Ibrahim, “I left National Assembly on Thursday 14th April, 2016 at 11:20 after dropping a letter to the Senate President notifying him of my medical trip to Egypt.

Oyo APC Chairman loses wife Sola Adeyemo L-R: Adamawa State Governor, Muhammad Umar Bindow; former Vice-President, Atiku Abubakar and his wife, Hajiya Amina Titi, at the traditional wedding ceremony of Atiku’s son, Aminu Atiku Abubakar, at the palace of the Asante monarch in Kumasi, Ghana...at the weekend.

Ibadan

Fast food packaging could pose chemical risk

Appolonia Adeyemi

eople who eat a lot of fast food are exposed to up to 40 per cent higher levels of potentially harmful chemicals used in packaging the food products. The harmful chemicals, phthalates is a group of chemicals used to soften and increase the flexibility of plastic and vinyl - often found in the packaging used for fast food products. That was revealed in a new study, published in the journal Environmental Health Perspectives and is one of the first to look at fast-food consumption and exposure to phthalates. Fast food, a type of mass-produced food that is prepared and served very quickly, was first popula-

rised in the 1950s in the United States (U.S), and may be relatively lesser in nutritional value compared to other foods and dishes. Examples are hot dog, sandwich, French fries, pizza, hamburger, among others. Phthalates have been banned from children's toys and products such as teething rings and soft books because of their potential toxic effects. The chemicals are known to disrupt hormones and have been implicated in several illnesses and condition including asthma to autism. Phthalates belong to a class of industrial chemicals used to make food packaging materials, tubing for dairy products, and other items used in the pro-

duction of fast food. Previous research suggests the chemicals can leach out of plastic food packaging and can contaminate highly processed food. Lead author of the study and an Assistant Professor Ami Zota, of Milken Institute School of Public Health in the United States (U.S), said: “People who ate the most fast food had phthalate levels that were as much as 40 per cent higher. “Our findings raise concerns because phthalates have been linked to a number of serious health problems in children and adults.” Doctor Zota and her colleagues looked at figures from 8,877 participants who had answered detailed

questions about their diet in the past 24 hours, including consumption of fast food. The participants also provided researchers with a urinary sample that could be tested for the breakdown products of two specific phthalates: DEHP and DiNP. Studies have suggested these can damage the reproductive system and they may lead to infertility. The researchers found that the more fast food participants in the study ate the higher the exposure to phthalates. People in the study with the highest consumption of fast food had 23.8 per cent higher levels of the breakdown product for DEHP in their urine sample.

ife of Chief Akin Oke, Chairman of the Oyo State chapter of the All Progressives Congress (APC), Madam Felicia, has died. She died on Saturday in Ibadan aged 72. According to Mr Yomi Layinka, the Special Adviser, Communication and Strategy to Governor Abiola Ajimobi, the deceased died during an illness. Commiserating with the Oke family, the governor re-

Akpoye

called the immense contributions of the deceased to the success of the APC at the last general elections at the state and federal levels. The statement read: "Standing stoutly beside her husband like the biblical Esther, she was ever so strong, loyal, loving and caring for him, for their family and for all who had the good fortune of an encounter with her. "She contributed immensely to the struggle by the progressives to wrest power from the PDP and had remained a strong pillar of the party till her demise."

change OF NAME

I formerly known and addressed as Sylvenous Sise Preye now wish to be known and addressed as Akpoye Ayebi. All former documents remain valid. The General public should please take note.

Ovayebewho

I formerly known and addressed as Igwe Juliet now wish to be known and addressed as Ovayebewho George Juliet. All former documents remain valid. The General public should please take note.

Akpan

I formerly known and addressed as Miss Margaret Okon Assam now wish to be known and addressed as Mrs Margaret Iniobong Akpan. All former documents remain valid. The General public should please take note.

Nse

I formerly known and addressed as Victoria Henry Essien now wish to be known and addressed as Nse Henry Essien. All former documents remain valid. General public take note.

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Graft EFCC pays the price of holding charge

Politics

Parliament Legislative oversight critical to good governance – Dogara

13 14

Clearing the coast for Sheriff The National Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, is not a neophyte in political war. But this time, he is into a different kind of battle. In this report, WALE ELEGBEDE writes on the succession move of the former Borno State governor

he Peoples Democratic Party (PDP) is not strange to crises when it comes to succession issues at the party level. Since the inception of the party on August 31, 1998, the party has had 12 national chairmen till date. From Dr. Alex Ekwueme who was the first chairman of the party to the immediate past substantive chairman of the party, Alhaji Adamu Mu’azu, the average tenure span of the various chairmen has been one and half years. Fast forward to 2016, the battle for the PDP Wadata House is already generating ripples and pitching party members against each other. The major gladiators have started drawing up strategies on how to outdo one another for the plum job in the leading opposition party. When the widely acclaimed ‘game-changer’, Mu’azu, resigned as the party’s chairman following the defeat the party suffered at the 2015 general elections, the arrival of Prince Uche Secondus, the party’s deputy national chairman on the scene did not last long as the former Political Adviser to former President Goodkuck Jonathan, Alhaji Ahmed Gulak, ensured he got booted out through judicial pronouncement. Not seeing Gulak as a good replacement for the deposed Secondus, the National Working Committee (NWC), PDP Governors’

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Sheriff

Forum (PDPGF) and the National Caucus of the party after much horse-trading, decided to pitch tent with former Borno State governor, Senator Ali Modu Sheriff. Sheriff was said to be chosen for the position by governors elected on the platform of the party and some members of the National Working Committee after former chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, was said to have turned down the job. It was further gathered that the party’s Board of Trustee (BoT), initially rejected the choice of Sheriff, but after concessions that he will only serve out the term of North East, a mutual agreement was made that his tenure will only be for three months. The selection, however, breed venom as some interests within the party opposed the choice of Sheriff, stating that the former Borno governor carries a baggage that allegedly linked him with Boko Haram sect. An Australian negotiator, Steven Davis, had alleged that Sheriff was one of the sponsors of the sect, though there is no circumstantial evidence yet to this allegation. Also, those opposed to him said he is an “outsider.” The former Borno State governor joined PDP towards the end of 2014. However, with the backing of the Governors Forum, who are his promoters, Sheriff sails and with his expected three months tenure winding down, the PDP chair-

Emmanuel

Sheriff’s selfsuccession bid is already a done deal. Whatever you see now are just negotiations over what is ahead

man’s body language started gravitating towards succeeding himself. With the party’s convention programme set on course, the intrigues over the zoning of party offices commenced in earnest in the six geo-political zones, and the various interests commenced nocturnal consultations. However, the National Vice Chairman, South-West, Chief Makanjuola Ogundipe, alongside Senator Buruji Kashamu and others, set the ball rolling for the big game when they made a proposal that the leadership of the party has accepted to cede the position of the national chairman to the North. According to Kashamu, “We were and are still of the view that given the strong presence of the PDP in the South, with 10 governors out of 17 governors in the South and just two governors in the 19 states in the North, it would make more sense to leave the National Chairmanship of the party in the North, so as not to be branded a regional party. “Our view does not foreclose any other opinion or suggestion. If some other persons have any other idea, they are at liberty to push it. At the end of the day, it is either superior argument wins or we go to the convention. For us, as true party men, what is best for our party and majority of the stakeholders is all we want”. According to a chieftain of the party who prefers to stay anonymous, the South-West team that visited Sheriff actually set the ball rolling for the self-succession

plan of the former governor. “Interestingly, some leaders of the party whose relationship before and after the last election wasn’t cordial, suddenly reunited for the Sheriff chairmanship bid. In fact, the script had been written before he was pronounced as chairman, otherwise, why would you make a man so rich, influential and widely connected a protem chairman when you never wanted to keep him for long,? “I can tell you that the Sheriff ’s self-succession bid is already a done deal. Whatever you see now are just negotiations over what is ahead. Whether this is good for the party or it is to serve the ambition of his promoters is a matter of time,” he said. Expectedly, Sheriff recently constituted four committees to handle specific assignments with respect to the party’s forthcoming convention. The initial political structures put in place for the congresses and conventions were put on hold, a development that some party members think it’s a working to the answer tactics. The committees are the National Convention Committee, Reconciliation Committee, Zoning Committee and the Finance Committee. Governor Nyesom Wike of Rivers State is heading the national convention committee as Chairman, while the Taraba State governor, Dairus Ishiaku, is Deputy Chairman and Governor Dave Umahi of Ebonyi State, is Secretary. The Reconciliation Committee has Bayelsa State governor, Seriake Dickson, as Chairman and Senator Ibrahim Mantu as Deputy Chairman, while the Zoning Committee has Akwa Ibom State governor, Udom Emmanuel, as Chairman and Barr. Kelechi Igwe as Secretary. The Finance Committee has Gombe State Governor, Ibrahim Dankwambo, as Chairman and Senator Godswill Akpabio as Deputy Chairman. Meanwhile, New Telegraph gathered that the Emmanuel-led zoning committee after its meeting in Uyo, the Akwa Ibom State capital, last Friday, has zoned the position of the National Chairman of the party to the North East. Interestingly, Sheriff is from the North East. It was further gathered that the committee decided to zone the chairmanship stool to the North East in order to strengthen the grip of the party in the North ahead of the 2019 election. However, the question that readily comes to mind would be whether the party is jettison its initial plan of picking its candiCONTINUED ON PAGE 12

POLITICS

Comrade Debo Adeniran is the Executive Chairman of the Coalition Against Corrupt Leaders (CACOL). He speaks about the impasse over the 2016 budget and the anti-corruption war. TEMITOPE OGUNBANKE reports

It is almost a year that Nigerians voted for President Muhammadu Buhari but there seems to be a lot of discordant tunes over the state of the nation. What is your take on this? It is no gainsaying to state that at the moment, Nigerians are groaning in pains under a situation where every aspect of the country’s polity seems to be in quagmire and doldrums. The double dose of tragedy represented in the present crises in the energy and power sectors have taken majority of Nigerians to the peak of pains where life is gradually becoming more and more frustrating and hellish. A critical and objective appraisal of the state of the nation at this moment reveals fogginess and confusion as the country remain in a situation where the poor which constitute the majority are writhing in pains almost on all plains, while the ruling class and their underbellies that are impervious to this reality and apparently does not give a damn. More than 10 months after the inauguration of the All Progressives Congress, APC-led Federal government, it is pertinent to come to terms with what is real and what is fad or farce. The worst thing may not be so much about where we are coming from but much more about in which direction we are going. As things stand, Nigerians are more concerned with the direction the nation is moving. And the only direction they want to go is that direction which will guarantee that the ordinary Nigerian can feed; have shelter and access to gainful employment, education, good health care, security and to live in harmony. These are the basic reasons why government was instituted. One of the key areas that Nigerians seem to be dissatisfied with the Muhammadu Buhari-led government is economy… The present economic situation exposes the futility of ‘cosmeticism’ and redecoration as strategic approaches for revamping an economy already in woe, as a result of the hitherto existing economic direction. The privatisation of the

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Panama leaks, a test case for anti-graft agencies – Adeniran in spite of the anti-corruption stance of the APC government has turned out to be a budget of corruption. It has revealed several padding, inflated figures, hidden thieveries, audacious thievery inclinations, bloated and unnecessary expenses. In all these, all the arms of government, civil servants, bureaucrats and career politicians are involved. This scenario is a not a departure from the agonizing past. It reflects an apparent non-readiness to abandon the ways of the old that Nigerians vehemently voted against in 2015. The issues that are significant; that can transform the excruciating condition of living of the poor working, toiling and oppressed masses are not even on the 'scale of preference' in the so-called 'Budget of Change.'

Adeniran

commanding heights of the Nigerian economy; a neo-liberal decision is what is really behind the crises in the power, oil, education, health sectors and some other areas. It is no gainsaying to affirm that any economic direction that will not alleviate the sufferings of the vast majority of the people will be tantamount to elevating their pains and worsening their situation of existence, thus the least that the government can do is to adopt a social welfarist approach that will embrace the provision of social security for the extremely poor and equitable distribution of resources and avoiding the concentration of wealth in the hands of a privileged few. The approach must also include affordable housing, education system that will leave no child out of school, a health care system that will be accessible to all and infrastructures that will facilitate the enabling environment for business and enterprise. The present regime has failed to clearly stamp its’ economic ideology, direction or principle, which could be used to prove that indeed, there is a ‘change’ economically and that it is moving towards alleviating the painful situation of the people, particularly the poor who forms the majority. At best, the economic direction can be described as ‘foggy’ and this appear to be consciously made

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

date from the North ahead of the crucial election in three years time. Speaking on the crucial assignment before the Emmanuel-led committee, the former deputy National Chairman of the party, Chief Olabode George, said the expected zoning of party offices is a very delicate issue that must be predicated on fairness and equity. Urging Sheriff to play the game according to its rules, he said, “ I implore

so with the scenario riddled by contradictions, somersaults, illogicality, indecisions and uncertainties. This is what is at the background of the present economic hardships; where the people are battling with challenges for very basic needs; from food to housing, power to energy and from education to employment etc. and with government appearing hapless.

Those found culpable must be punished accordingly, no matter how ‘highly’ placed or influential they are

We are already in second quarter of the year and the president is yet to assent his signature on the 2016 budget following various infractions with the National Assembly. How do you see the situation? The brouhaha and the intriguing ‘gymnastics’ over the 2016 Budget has continues to linger since December 2015 when it was presented to the National Assembly. The episode has brought to the fore what the ‘skeptics’ and deep discerners have espoused about the APC-led Federal government on its capacity to deliver on the mantra of change upon which it rode to power on one hand and almost total insensitivity to the fate of Nigerians whose life are directly affected by the intrigues, unwarranted disagreements between the executive and the legislature over a document that is so fundamental to national planning on the other hand. The so-called ‘Budget of change’,

Clearing the coast for Sheriff him to be faithful to his words and his promise in the processes of giving our party a new strong and firm foundation. “I want to believe the chairman is an honorable man. He must honor his word to handover to an elected chairman at the National Convention on May 21st this year. This is the only way that he will be on the positive side of history.” With Sheriff ’s eagerness to take anoth-

er oath of office at the Wadata House getting obvious by the day and those privy to the committee’s final report affirming that the chairmanship slot has been zoned to the North East, it is clear that the coast is clear for the former governor to succeed himself but the big question is whether he will be able to succeed as the party’s chairman if he eventually gets the nod of the party’s delegate.

How would you react to the Panama reports, which revealed hidden tax havens and offshore companies of some prominent Nigerians? The Nigerian government’s attitude to the gruesome revelations from the Panama Paper leaks is worrisome and repugnant, as the attitude is apparently lackadaisical and indifferent. When in other places, heads of the ‘mighty’ have rolled over the Panama papers leaks, the Nigerian government’s reaction or better put inaction and insensitivity over the Panama papers is unacceptable and reprehensible. It would be recalled that the Prime Minister of Iceland was forced to resign from office following protests by Icelanders. But with such a lackadaisical or indifferent attitude on the part of government toward global issues like the Panama Papers leak especially when so-called leaders from Nigeria are mentioned in the scam, the celebrated anti-corruption drive of the government and the anti-corruption poise of the present regime may as well just be described as a ‘ruse’. I am of the view that a special attention should be paid by the Federal Government and the anticorruption agencies to the revelations from the leaks with a goal of acting on them and with the view of verifying the facts; carrying out investigations, probing, prosecuting and recovering all the loots stolen from our commonwealth that are hidden in the tax havens and offshore companies. Those found culpable must be punished accordingly, no matter how ‘highly’ placed or influential they are in the society. With the revelations from the ‘Panama Papers’, the Federal Government and the anti-corruption agencies should swing into action with the view of investigating, prosecuting and recovering of the loots while applying necessary punitive where culpability is established. And this is not just about Saraki; it must include all other Nigerians mentioned in the ‘leaks’ like Mr. David Mark and others. The Nigerian government must also seek and ensure that James Ibori, after serving his term in the United Kingdom prison is repatriated to Nigeria to answer for the charges against previously and his involvement in the Panama Papers scam.

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

The court, in two separate judgements, imposed N15 million fine on the Economic and Financial Crimes Commission (EFCC) for illegal arrest and detention of suspects. ONYEKACHI EZE says the era of arrest without trial may be over

POLITICS

Graft: EFCC pays the price of holding charge

f recent, the heat is on the Economic and Financial Crimes Commission (EFCC) for illegally detaining suspects contrary to the provisions of the country's constitution. Between April 8 and 11, two victims of the EFCC's illegal detention have secured a total of N15 million court judgment against the anti-graft commission. The first judgement of N10 million was in favour of the Deputy National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus. Justice James Tsho of the Abuja Federal High Court who declared Secondus' arrest and detention, illegal, declared that, "The first prayer of the applicant is hereby granted and the sum of N10 million damages is hereby awarded against the respondent." The PDP former Acting National Chairman was arrested by the EFCC last February for allegedly receiving vehicle gifts on behalf of the party from an oil mogul, Jide Omokore worth about N300 million. He was detained for about eight days without trial, contrary the provisions of the constitution that the accused should be charged to court within 24 hours. In the second judgement, which was delivered by Justice Jude Okeke of the Federal Capital Territory (FCT) High Court on April 11, the anti-graft agency was ordered to pay the applicant the sum of N5 million for detaining him for 41 days without trial. The applicant, Abba Mohammed, who is the son of the former Acting Chairman, Board of Trustees (BoT) of PDP, Dr. Haliru Mohammed, had approached the court to enforce his fundamental human right. Mohammed was arrested and detained by the EFCC on November 26, 2015, and was given administrative bail the following day. But the commission kept him in its custody for 41 days before it could produce him in court despite the fact that he had met his bail conditions. Justice Okeke held that the EFCC failed to provide concrete evidence to back its reason for detaining him for about 41 days without charging him to court. "The applicant’s contention that his fundamental right was denied him by the respondent was not proved otherwise; there must be reasonable suspicion upon which the detention was made. “The right of the applicant has been violated by the respondent by detaining him for about 41 days without making reference to any court. “His fundamental right to liberty was denied him and he was detained for about 41 days; he applied to this court and an order to

Magun

release him on bail was given. “He was refused bail despite meeting the bail conditions given to him by this court; the respondent, acting under the cover of Section 7 of the EFCC Act, failed to present enough evidence. “I have given due consideration to the following contentions as earlier stated under sections 131 and 133 of the Evidence Act 2011. “There is no concrete evidence before the court to prove the allegation of N17 billion arms scam and the alleged N300 million traced to the applicant’s account are true,’’ Justice Okeke observed. The applicant had sought a N200 million relief as general damages but the court awarded him N5 million. The court also awarded N50, 000 to him for cost of instituting the case. This was not the first time the court was reprimanding the commission for violating the human rights of accused persons. Last September, a Federal High Court in Lagos awarded N5 million damages against the EFCC for sealing up two companies and freezing their four bank accounts without a court order. The companies, Hair Prestige Manufacturing Nigeria Limited and Prestige Hair Fashion Nigeria Limited were sealed up by the commission following a petition that their director, Gnanhoue Nazaire, was allegedly involved in a fraud. But the presiding judge, Justice Mohammed Yunusa said the EFCC acted without a court order. He noted that the commission "acted rashly and without following due process," and warned that "the exercise of the powers of arrest must be done with restraint, which is the essence of a court order. The need to exercise restraint arises so as not to violate anyone's rights." The judge, a month earlier awarded a N17 million damages to Adewale Adeniyi against the EFCC for detaining him more

Secondus

The right of the applicant has been violated by the respondent by detaining him for about 41 days without making reference to any court

than 48 hours without trial. The court said it was contrary to Section 35 of the 1999 Constitution (as amended). "There is no evidence that there was a preliminary investigation into allegations against him before the arrest. No order of court authorising the arrest was exhibited before the court. The respondents acted irrationally without following due process,” Justice Yunusa added. The EFCC always hinge its arrest without trial on remand order it obtain from a magistrate court. Otherwise known as 'holding charge' the remand order is defined by Blacks Law Dictionary as "a criminal charge of some minor offence filed to keep accused person in custody while prosecutors take time to build a bigger case and prepare more serious charge." The EFCC said the Administration of Criminal Justice Act (ACJA), 2015, allows it to detain an accused on holding charge pending completion of investigation. In other words, holding charge means "arrest-before-investigation" as against "investigation-before-arrest" obtained in civilised criminal judicial systems. This has drawn criticisms from some lawyers and human rights activists, who argued that such run contrary to Section35(4) of the 1999 Constitution (as amended). According to the provision of this law: "Any person who is arrested or detained in accordance with subsection (1) (c) of this section shall be brought before a court of law within a reasonable time." It further defines “a reasonable time” in S.35(4), to mean: "(a) in any other case of an arrest or detention in any place where there is a court of competent jurisdiction within a radius of forty kilometers, a period of one day; and (b) in any other case, a period of two days or such longer period in the circumstances may be considered

by the court to be reasonable." The quick resort to the magistrate court to obtain holding charge order by the EFCC, and to guard against abuse, made the Chief Judge of the Federal Capital Territory (FCT), Justice Ishaq Bello, to issue an order restraining magistrates in the territory to be cautious in granting remand orders. The Supreme Court had earlier declared holding charge as "illegal, unconstitutional, null and void." The statement credited to the Acting Chairman of EFCC, Ibrahim Magun concerning the National Publicity Secretary of PDP, Chief Olisa Metuh who was arrested and detained by the commission for nearly two weeks last January, was an indication that the EFCC did not just detain suspect but at the same time try to assume the role of a judge and jury. Magun said Metuh was kept in its custody because he refused to cooperate with them on how he would refund the N400 million he allegedly collected from the Office of the former National Security Adviser (ONSA). "From the records, Metuh got over N400 million, he has not said anything because we need the public money to be returned so that it's going to be used for public good. "... Instead of going for a refund, he has admitted he collected the money...he still has the money because the money is too much. Instead of returning the money, he preferred to go on (hunger) strike," the EFCC chairman stated. While many believe that the order for refund should have come from the court not an investigating agency, others averred that the anti-graft agency may frustrate the anti-corruption war of the present administration if it continually fails to conclude its homework before arresting and prosecuting suspects.

POLITICS

Text of the convocation lecture delivered by the Speaker of the House of Representatives, Hon. Yakubu Dogara, at Achievers University, Owo, Ondo State. The paper is titled: ‘Legislative oversight as a critical component of good governance.’ Introduction n a federal structure like ours, where a democratic system of government is in place, there are fundamental principles that enthrone good governance. The institutional arrangement is reflected in the distribution of governmental powers between the three arms of government, namely, the Executive, the Legislature and the Judiciary. The principles that guide operations of the three arms include autonomy, separation of powers and checks and balances. It is on the basis of the performance and interaction of these arms of government that good governance is assessed and determined. The 8th House has the necessary political will and capacity to continue with vigorous oversight of the executive branch as this promotes accountability and reduces incompetence, misuse of government funds and abuse of power. In carrying out its oversight and investigative hearing activities, the House shall ensure that its powers are not misused or abused by either members or committees. To this end, the 8th House shall strengthen its processes, rules and internal structures to support its oversight and investigating hearing activities and ensure full access to all government financial information.

Good Governance The term ‘Good Governance’ has very broad connotations. It is not necessarily defined in any written law. The closest description is as contained in Chapter 2 of the constitution which provide for fundamental objectives and directive principles of state policy. This chapter lays out the broad principles and objectives that the State should aspire to in order to attain good governance. Good governance could generally be described as governance that meets or satisfies the yearnings or needs of the people in terms of development and welfare. However, in a democratic regime good governance has three principal characteristics: Participation, Transparency and Accountability. Participation essentially has to do with involvement and inclusiveness of the citizens in the affairs of government. The public plays a significant role in choosing their leaders and representatives. In the Nigerian context, the legislature provides for public participation in the legislative activities and processes when it calls for memoranda from the public and when it conducts public hearings. This enhances citizens’ access to the legislature and contributes to good governance. Transparency envisages that activities and decisions of government are open to public view and scrutiny. When we open our committee and government meetings to the press and the public, when our budgets and expenditures are reviewed by

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Legislative oversight critical citizens; when our courts and legislative chambers admit the public; when our laws, rules and decisions of government are open to discussion, they are seen as transparent and there is less opportunity for any authority to abuse the system. This position is further reinforced by the Freedom of Information Act, initiated and passed by the National Assembly to aid good governance and accountability. Transparency strengthens democracy, promotes efficiency and effectiveness in governance. Accountability denotes the degree to which government or any of its agencies are held responsible for its actions. In the legislature, members of parliament give periodic account of their stewardship to their constituents during constituency briefings. The four-year tenure also ensures that political office holders render accounts of their stewardship to the electorate especially before any possible renewal of mandate. Legislature oversight The use of the term ‘oversight’ is credited to Prof Woodrow Wilson and he defined it as the “duty of a representative body to look diligently into every affair of government and to talk much about what it sees. It is meant to be the eyes and the voice and to embody the will and wisdom Dogara of its constituents”. It has also been as “the review, monitoring and supervision of government and public agencies, including the implementation of policy and legislation”. Legislative oversight involves keeping an eye on the activities of governmental agencies especially the executive branch on behalf of the Nigerian people. This process brings to the knowledge of the public what the executive branch is doing, and affords the electorate the opportunity to determine whether public servants are really serving their collective interest or not. Oversight can be performed ex ante i.e. during the design and implementation of a program or policy and also ex post, after its implementation. This legislative function is ofTransparency ten referred to as the watchdog role. One of the cardinal merits of invesstrengthens tigative hearings or oversight is that democracy, it puts public officers on their toes, literarily. Persons who deal directly promotes with public funds and government efficiency and policy are made aware that their conduct could be examined or called effectiveness in into question by an alert legislature governance desirous of public good. This acts as a restraining influence on governmental action. Separation of Powers and Checks and Balances Under the 1999 Constitution of Nigeria legislation, execution and adjudication of disputes, are separated and vested in different organs which are basically independent of one another in terms of their existence and personnel. This is an essential feature of presidential system of Government. The legislature in Nigeria, guards its independence jealously, but is patriotic enough to realise, that the government is necessarily only one, and cooperation rather than confrontation with the other branches, particularly the executive, leads to a workable governmental framework. The Nigerian Constitution is designed

in such a way that the legislature checks and balances the executive, and vice versa. This helps to protect liberty and avoid authoritarianism and dictatorship. Legislative power of oversight The functions of the legislature in a modern democratic State extend beyond law making to oversight of the entire sphere of government. Legislative oversight connotes the power of the legislature to oversee and monitor programmes and activities of government agencies and review policy implementation strategies of the executive arm of government. The power of oversight of the legislature is provided for in the 1999 Constitution, existing laws, practices and usages of Parliament, and judicial pronouncements, as follows: The Power of Confirmation of Appointments (i) In order to entrench good governance especially in matters that are sensitive to public trust, the legislature is given the power of sanctioning certain key appointments of the executive arm. This is a major form of supervisory oversight of the executive arm as these appointments cannot be made without legislative approval. The Nigerian Constitution provides for instances where presidential appointments must receive the consent of the legislature. This includes – appointment of Ministers of the Federal Republic of Nigeria; appointment of ambassadors and Nigeria’s representatives abroad; appointment of certain judicial officers; approval of the number of Special Advisers for Mr. President; appointment of a new Vice President in the event of a vacancy occurring; (ii) Appointment of Chairmen and members of Federal Executive Bodies also require legislative approval constitutionally speaking. These include, Federal Character

Commission; Independent National Electoral Commission (INEC); Federal Civil Service Commission; National Population Commission; Police Service Commission; Code of Conduct Bureau; the AuditorGeneral: (iii) Apart from constitutional mandates for legislative approval of certain appointments, many statutes also provide for legislative consent to key executive appointments. Examples abound. The NCC Act, NDDC Act, CBN Act, FIRS Act and AMCON Act, to mention just a few, require that their chairmen and members shall receive legislative consent. The legislature ensures that the requests sent to it by the executive are properly examined, debated before they are approved or disapproved. (iv) However, it seems that the procedure and methodology for legislative approval of key appointments should be re-examined for better efficiency. The Constitution reposes a huge responsibility to scrutinize these appointments on the legislature on behalf of the Nigerian people. This is a function to be taken very seriously. Oversight power to check proclamation of State of Emergency The President has power under the Constitution of the Federal Republic of Nigeria to issue a proclamation of a State of Emergency under S.305, thereof. S. 305 (1) and (2) says: “(1) Subject to the provisions of this Constitution, the President may by instrument published in the Official-Gazette} of the Government of the Federation issue a Proclamation of a state of emergency in the Federation or any part thereof. (2) The President shall immediately after the publication, transmit copies of the Official Gazette of the Government of the Federation containing the proclamation including the details of the emergency to

POLITICS

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

to good governance – Dogara the President of the Senate and the Speaker of the House of Representatives, each of whom shall forthwith convene or arrange for a meeting of the House of which he is President or Speaker, as the case may be, to consider the situation and decide whether or not to pass a resolution approving the Proclamation.” However by virtue of S.305 (b), a proclamation issued by the President shall cease to have effect, “(b) if it affects the Federation or any part thereof and within two days when the National Assembly is in session, or within ten days when the National Assembly is not in session, after its publication, there is no resolution supported by two-thirds majority of all the members of each House of the National Assembly approving the Proclamation; (c) after a period of six months has elapsed since it has been in force: Provided that the National Assembly may, before the expiration of the period of six months aforesaid, extend the period for the Proclamation of the state of emergency to remain in force from time to time for a further period of six months by resolution passed in like manner” Implementation of treaties The National Assembly performs crucial oversight responsibilities with respect to implementation of Treaties in Nigeria. Indeed the President has power to enter into treaties on behalf of Nigeria, but such treaties or parts thereof cannot have the force of law except it is enacted by the National Assembly.

Perhaps the National Assembly has contributed more to our democracy through its power to conduct investigations and oversight than has been credited to it. It has carried out countless investigations and exposed corruption, and mismanagement of government resources on a massive scale. Removal of Chief Executive/Impeachment as an instrument of oversight to guarantee good governance One of the most critical constitutional powers entrusted to the legislature to ensure good governance is perhaps that of removal from office/ impeachment of the Chief Executive of the Federation or State. The National Assembly and the House of Assembly of States can remove the President and Vice President, State Governors and Deputies respectively from office as provided by Section 143 and 188 of the 1999 Constitution. It is a power that reminds the Chief Executive that he could be removed anytime from office for gross misconduct which has been defined as “a grave violation or breach of the provisions of (the) Constitution or a misconduct of such nature as amounts in the opinion of the National Assembly to gross misconduct”. S. 147(11). This power must however, not be exercised based on sentiments but on evidence of gross misconduct. It is worthy of note that the power of impeachment/removal from office is also exercisable on the presiding officers of the National Assembly or State Assembly – The President of the Senate and Deputy President of Senate, The Speaker and Deputy Speaker of the House of Representatives and House of Assembly of States. This is provided for in Sections 50(2)(c) for the National Assembly.

Power to conduct investigations The conduct of investigation by the legislative arm is at the core of legislative oversight powers granted by the constitution. Section 88 and 128 of the 1999 Constitution grants the National and State assemblies powers “to direct or cause to be di- Supervision and monitoring of projects rected an inquiry or investigation Another important aspect of overinto - (a) any matter or thing with sight that ensures good governance respect to which it has power to make to the people is through the physical laws; and (b) the conduct of affairs supervision and monitoring of projof any person, authority, ministry or ects and programmes embarked on government department charged, or by the Executive arm of government. intended to be charged, with the duty The legislature is charged to check, of or responsibility for (i) executing raise questions and where necesor administering laws enacted by the sary direct the executive through National Assembly (State Assembly), the ministers or commissioners in and (ii) disbursing or administering moneys appropriated or to be appropriated by such House”. However, this investigative power is not without limitation. Sub-section 2(a)(b) stipulates that “The powers conferred on the National Assembly under the provisions of the section are exercisable only for the purpose of enabling it to (a) make laws with respect to any matter within its legislative competence and correct any defects in existing laws; and (b) expose corruption, inefficiency or waste in the execution or administration of laws within its legislative competence and in the disbursement or administration of funds appropriated by it”. Also, Sections 89 and 129 of the 1999 Constitution empower the legislature to procure evidence, summon persons to give evidence and require such evidence to be given on oath through examination of witnesses. The legislature can also issue a warrant to compel attendance by any person so required, on order of punishment if they fail to attend. Dogara

charge or heads of various agencies to appear before the House to defend any allegation of non-performance, or abandonment or shoddy execution of projects as appropriated. This is one of the ways to ensure that appropriated funds are used for the purposes intended by the legislature. The power to control spending of public funds and monitoring of the budget In a bid to ensure that government performs her statutory responsibility of catering for the welfare of the people, the law empowers the legislature to ensure effective allocation and management of public funds. The legislature also exhibits great influence over the borrowing powers of the State. All these are to ensure prudent management of public funds and promotion of good governance.

Good governance is essential for the achievement of social, political and economic progress in society

presidential system of government, the legislature makes law and the executive, executes. But the checks and balances introduced into the system gives the President power to assent to bills or withhold his assent thereto, (Sections 58(4) and 59(4) of the Constitution). This power given to the President makes the President a critical part of the legislative process. However, the Constitution gives the legislature, ultimate power over the legislative process, by the legislative power to override presidential veto of legislation, S. 58(5). This power actually is a form of oversight over activities of the executive. It is anchored on the fact that the legislature has the last say on legislation and this has capacity to make the executive a cooperative partner with the legislature in the quest for good governance. This power to override Presidential veto Receipt and implementation of the Audi- was used by the National Assembly tor General’s report to pass the current Niger Delta DeAnother major instrument of over- velopment Commission (NDDC) Act sight over activities of all organs of by overriding President Olusegun government is through the means of Obasanjo’s veto of the Bill. the Auditor-General’s Report. The legislature would rely on its Challenges of oversight and good lawmaking powers under Section 4 governance In practice however, the oversight or under Section88 and 89 or indeed under Section85(5) of the Constitu- activities of the legislature faces tion to act on these reports and draw enormous challenges and setbacks attention to instances of corruption, that should be overcome, if it is to fraud, abuse of office, inefficiency, lead to good governance that we are mismanagement or misappropria- all looking for. Some of the identified challenges tion of funds. This is a major weapon in over- sighting all governmental include: lack of cooperation by some institutions in order to ensure good Ministries, Departments and Agengovernance. cies (MDA’s) in the executive branch; public misconception on the mandate, Oversight over states and local governrole and activities of the legislature; ments in the federation: inadequate funding of oversight acIn a federation such as Nigeria, tivities such that in highly technical the States are largely independent areas of oversight, there may not be and autonomous. There are however, enough resources to engage the kind many provisions of the Constitution of technical assistance required to that seem to place certain activities conduct a proper oversight. In addition, like any human instiof the states within the oversight and supervisory jurisdiction of the federal tution, there may be a few bad eggs government, especially the National that may not live up to their oath of Assembly, starting from Section 4 of office and legislative duties, but the the Constitution, in order to ensure leadership is dedicated to ensuring good government. that any proven case of misdemeanour by any member is appropriately Power of the National Assembly to make dealt with. laws for states in times of war and inabilThe 8th House of Representatives ity of House of Assembly to function committed itself to fighting corrupThe National Assembly is imbued tion and abuse of office in its Legiswith constitutional power to take over lative Agenda and is supporting the and make laws for any State House of government of President MuhamAssembly that is unable to function madu Buhari, in its effort to eradicate as a result of situation prevailing in corruption in Nigeria. the State. On February 16, 2016, again five Conclusion members of the Kogi State House of There is no doubt that good Assembly, purportedly removed the governance is essential for the Speaker in a 20 member House of achievement of social, political Assembly, and continued to function and economic progress in society. as the legitimate legislature of the It is the means through which the State. This also led to inability of the State can effectively address the House to continue functioning. This allocation and management of re8th National Assembly, as guardians sources to enable it respond to the of our democracy and Constitution, collective good of society without once again rose against impunity and discrimination. Nigeria as a fledgreckless political behaviour by using ling democracy with a chequered its oversight powers under Section 11 history of military rule is yet to at(4) of the constitution, to take over the tain its full potential in the practice functions of the Kogi State House of of good governance through legislaAssembly, in a concurrent resolution tive oversight. It is fair to say that of both Chambers. The law making the National Assembly has been a powers of the Kogi House of Assem- dependable organ of government bly will be immediately restored as willing and able to use its constitusoon as normalcy returns to that tional powers of oversight for the House as the National Assembly only common good. Indeed, each succesintervened to safeguard our democ- sive Assembly has made efforts in racy and constitutionalism. improving on the effectiveness of its legislative oversight function to Power to override Presidential veto promote good governance and acIn the division of powers under a countability in Nigeria.

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Opinion

The tricky proposition for Akpabio Dominik Umosen

ero dynamism and guaranteed poison in the political debate underscores the absence of a credible and alternative voice in the raging debate. Not only is the flow nauseatingly one-sided, the fight against corruption diverted the focus of government, disabling appreciation of its cardinal obligation of fighting poverty and arresting negative sentiments and disaffection among citizens. We need not rehash how confusion in the world oil market distorted the oil-based Nigerian economy and diminished government’s capacity to satisfy expectations and fulfill its numerous promises. A year after its inauguration, it should bother the All Progressives Congress (APC)-controlled administration that it is struggling to sustain the goodwill that greeted it. The worsening economic situation in the country inspired despair and triggered cynical references to alleged lack of capacity by the party, including bumbling actions and its signature failure to enforce its preferred candidates for leadership of the National Assembly. Former Kwara governor and two-time senator Bukola Saraki defied the party and became Senate President while Hon Yaukubu Dogara replicated similar defiance and humiliated Hon Femi Gbajabiamila, the party’s choice, and became Speaker of the House of Representatives. Other slurs include the open-ended war against insurgency; unending drama over recovery of the abducted Chibok school girls, contrary to what was promised; rising unemployment and sheer hilarity that sorrounded the 2016 budget which is yet to be assented to by the president, four months into the year. These jaw-dropping scenarios and delay in the formation of a cabinet further sharpened this

popular sense of disappointment. Even with this disaffection-inspiring rating, the administration’s preoccupation with an allegedly selective war against corruption swelled the ranks of psychophants and provoked protest by the intimidated opposition but this has not enriched the political debate. Exasperation over President Muhammadu Buhari’s peripathetic inclination overtook dismay as critics demand proof of benefit of his junketing, allegedly to win international sympathy for the country. It is a matter for conjecture but critics allege that fuel scarcity resurfaced to remind the administration that its first anniversary in office consolidated disappointments, heartaches and goodwill squandered most casually. Preoccupation with a questionable inquisition against corruption without corresponding zeal to fight escalating poverty among Nigerians ridicules corrective measures by the president and further underlines zero balance in the political debate which is expected from a responsible opposition. The absence of a robust and credible opposition to spice debate with alternative arguments is attributed to intimidation of members and sympathizers of the Peoples Democratic Party (PDP), in the anti-corruption war which the party describes as a ploy by the ruling party to harass its members. Hopefully, the constitution of planning committees for the opposition party’s national convention offers the battered PDP opportunity to re-position as a credible platform for alternative arguments against controversial actions and policies by the administration. Many bright and promising lights in the former ruling party, including former Akwa Ibom State governor and Senate Minority Leader, Obong Godswill Akpabio, are included in the committees. Governors Nyesom Nwike, Darius Ishaku and David Umahi of Rivers, Taraba and Ebonyi States respectively, as well as Udom Emmanuel, Akpabio’s successor, can re-posi-

The worsening economic situation in the country inspired despair

tion the PDP, or whatever it transmogrifies into, as a credible alternative voice which is transparently lacking. The courageous men seeking to articulate a constitutional obligation by providing the country with a vibrant and constructive alternative platform, either through the PDP or another political platform as is being rumoured, deserve commendation and encouragement. It is the job of a responsible opposition to warn the Federal Goverment against straying towards authoritarianism like harassing legislators from Ekiti which smacked of partisanship by the Department of State Security (DSS). How well this responsibility is discharged would be determined by the reformation process in the party which begins with its national convention. Obong Akpabio, Udom, Nyesom Nwike, David Umahi and Darius Ishaku of Akwa Ibom, Rivers, Ebonyi and Taraba States, respectively, among others, have a huge and formidable but not insurmountable task before them. But as patriotic Nigerians, they should look beyond possible intimidation and recognize that part of the obligation of a responsible opposition is commitment to the well-being of our hard-won democracy. The validity of the party’s allegation that the war against corruption provides the APC a pretext to intimidate its members deserves to be tested. But this perceived persecution against members of the party should not discourage them from discharging a legitimate obligation to the country by providing the fulcrum of democracy which is constructive opposition. Akpabio and other members of the committees should collapse their fear of provoking further intimidation in their love for the country and the well-being of her citizens. Fortification with grace possibly through patriotism is a resolve that should be strengthening in considering options to detoxify the poisoned political debate. This tricky proposition demands courage and optimism. • Umosen (dominik.umosen@gmail.com) wrote in from Lagos.

Biafra: Enemies in our midst (3) Boniface Alanwoko CONTINUED FROM LAST MONDAY

s for the agitators, posing as a threat to the sanctity and unity of Nigeria let me recall some declarations made by those who are today celebrated as Nigeria’s founding fathers to that effect:

Chief Obafemi Awolowo (1947) Nigeria is not a nation. It is a mere geographical expression. There are no Nigerians in the same sense as English, Welsh or French… Sir, Abubakar Tafawa Balewa (1948) Nigeria’s unity is only a British invention. Sir, Ahmadu Bello (1960) the new nation called Nigeria should be an estate of our grandfather, Uthman Dan Fodio. We must ruthlessly prevent a change of power. We use the minorities in the North as willing tools and the South as a conquered territory and never allow them to rule over us and never allow them to have control over their future. Dr. Nnamdi Azikiwe (1964) The Nigerian idea still remains a lie. It is either we make a conscious effort to let it be true by constructing a ‘salad bowl’ country or let each group migrate into its own civilization. Gen. Yakubu Gowon (1966) there is no basis for Nigerian unity which has been so badly rocked

not only once but several times. I decided to represent these proclamations so that our kinsmen in Enugu State would stop playing to the gallery and say what they have on their minds. It is either they do not want Ndi Igbo to operate in their state or they are trying to curry favour with the current occupants of Aso Rock. From all that drips from the lips of our founding fathers, is it not obvious that Nigeria was never created to be united and will never be united unless certain conditions are met? Again, I don’t see how harmless Igbo youths demonstrating against the injustice meted out to them and their parents would constitute danger to Nigeria sanctity and unity. Once more, I advise our kinsmen in Enugu State to knock at another door, unless they are suggesting that Nigeria’s unity can only be sustained by the continuous shed of Igbo blood and the Igbo remaining as the dregs of the Nigerian nation. The issue is that, once any Nigeria begins to shout “One Nigeria, Our unity is nonnegotiable etc.” it is either he has schemed himself into a position, where he can dip his greedy fingers in the till that contains our common wealth or he is posturing for an opportunity to be there. The oil wealth that rolls in, mainly from the South- South and South-East zones is the only reason why Nigeria still exists as one entity today. Fortunately for Nigerian power brokers, the people of these zones have been rendered prostrate that they lack the strength to whimper, even when they are being repeatedly raped. Don’t be

deceived, if there is a reverse today and Nigerian petroleum is relocated to Yoruba or Fulani land, Nigeria would cease to exist as an entity and no one would be able to stop an Arewa or Oduduwa Republic emerging immediately. The declaration by Gen. Sam Momah, former minister of Science and Technology and an apologist of Gen. Buhari, that it is preposterous, subversive and felonious for some people to be talking about the resurrection of a dead Biafra at this time, can also be viewed as the utterances from a misguided Igbo and an archetype of a serving Igbo public official. Finally, Ochereome Nnanna, a veteran columnist and Igbo defender, in his two volume articles, on November 12 and 19, 2015, pontificated that Ndi Igbo should eschew demonstrations and continue to engage the Nigerian political process as a means of achieving their goals in Nigeria. He went on to compare the Igbo agitation with that of the Boko Haram and that of June 12 episode. He advised that as a landlocked people, Biafra would be unviable, since the surrounding minority entities would not be part of Biafra. He cautioned that there is no bloodless route to secession from Nigeria; therefore, Ndi Igbo should never again be part of any anger-driven separatist caper such as the Biafra episode of 1967-1970, insisting that the agitators should not engage in activities that would jeopardize the current heights that Ndi Igbo are presently occupying in Nigeria. I always admire Mr. Ochereome Nnanna

as a fearless and factual writer. Therefore, I share some of his views as regards to the issue at hand. My only problem with his pronouncements is how it could be possible for Ndi Igbo of Nigeria today to appease a Northern oligarchy that must rule and subjugate them and the Yoruba irredentists, whose preoccupation is to hold the Igbo down and force them do the Yoruba bidding. How many more sacrifices would the Igbo make in Nigeria before they can be accepted and their rightful place guaranteed? Since last year, Chief Emeka Anyaoku, former Secretary General of the CommonWealth and other notable Nigerians have been making calls for the restructuring of Nigeria to reflect a true federal system but nobody is listening. What do we do when calls for a panacea to most of our problems are ignored and rejected by an oligarchy holding tight to what their progenitor, Sir Ahmadu Bello, expounded in 1960? Today, the Igbo have been systematically decimated and turned to a weak minority group without any political leverage to occupy any major post in Nigeria’s political horizon. The worrisome part of it is that, recently, Sen. Bola Tinubu, and his own group of Yoruba, for their selfish reasons, have decided to align with the Fulani to maintain the prevailing structure that he and the NADECO group previously sighted as the main clog on Nigeria’s wheel of progress during the June 12 episode. • Alanwoko, a journalist, writes from Lagos.

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Our universities as battle ground

he spate of protests and wanton destruction of properties by students of higher institutions of learning across the country, in recent times, is a matter of concern. Despite the sloppy state of the nation’s education and the sluggish efforts in fixing the sector, the trends of protests tend to suggest that the students have not imbibed the culture of higher education and what is expected of them as students. The ferocity of the protests, which is spreading like an infectious sore in the last few days and the attendant loss of lives and property, remain condemnable and totally unacceptable. The truth is that the manner at which the students take to the streets under any slight provocation, disrupting academic and administrative activities in their institutions, as well as obstructing vehicular movements and the needless damage to school, government and people’s properties is more harrowing, as if that is only what the students could think off. If not curtailed, this worrisome tide, would not only continue to erode global confidence in the nation’s higher education system, but further call to question the already dented image of the sector, which hitherto had suffered standard and quality problem due largely to

incessant strikes and closure. Ordinarily, in other parts of the world, tertiary education holds the ace as the purveyor of knowledge, and as incubation of innovation and research advancement for accelerated industrial, technological and economic development. Nigeria should not be an exception to such global phenomenon, largely because higher education that is short of this expectation, as it may be, does not attract recognition. It is no longer debatable that “no country can rise above its education system” since the quality of a nation’s education determines its develop-

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survive this century. Unfortunately, Nigerian students, who are supposed to anchor the nation’s development, have over the years remained perpetually under the dark lens of incessant protests and wanton destruction of infrastructure meant to enhance and promote their learning. At the last count, no fewer than four universities have been shut indefinitely in a row in the last few days over protests and mayhem unleashed

At the last count, no fewer than four universities have been shut indefinitely

ment. Indeed, Nigeria remains where it is today as a result of poor level of higher education. A critical look at the developmental stride made by countries such as, China, Japan, South Korea and Malaysia, and in technology and industry in most recent times, is traceable to high level of education in these nations, which the students did not only champion, but are also played pivotal roles. To say the least, a country that failed to embrace and properly key into the knowledge-driven economy with the students at the centre, may not

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

on their institutions and their host communities. This is apparently disgusting and calls for sober reflection, as it portrays our students,

whose only language is violence, cultism, examination malpractice and other sundry vices, in bad light. On Thursday April 7, the University of Lagos (UNILAG) was shut indefinitely, while the students were ordered to vacate the campus immediately following a violent protest by the students, who held the university by the jugular over lack of water and electricity supply to their campus. During the protest that lasted for two days, the students took to the streets, barricading the two main gates to the campus

and disrupted vehicular movement within and outside the institution, while innocent people were made to suffer. Records have it that the university has been in the throes of protests in the last few years. Before the dust raised by the protesting students settled, students of the Adekunle Ajasin University, Akungba-Akoko (AAUA) on Friday April 8, went haywire and the university has since been shut indefinitely. Similarly, the students of the University of Port-Harcourt (UNIPORT) on Monday went on rampage over what they termed “indiscriminate and arbitrary” hike in school fees the university management. These apparent senseless protests and damage to property, now in practice among Nigerian students, the supposed builders of the society, must stop. The fact is that the use of protest by the students, instead of exploring the channels of dialogue as a means of resolving grievances or conflict resolution mechanism is barbaric, uncivilised and retrogressive. Also, the managers of these institutions should as a matter of necessity address the legitimate needs of the students on campus, without waiting endlessly for such matter to degenerate or get out of hand.

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

monDAY, APRIL 18, 2016 NEW TELEGRAPH

Law Lawyers split over masked witness

News Saraki, Orubebe before the law

News

Corruption: Banire presents FOI, whistleblowers’ bills to Ogun Assembly

FOLUSO OGUNMODEDE asks that although it is the discretionary powers of a judge to determine what happens in his court, do such powers allow masked witness to participate in court proceedings?

ays after it became a subject of discourse at a talkshop, lawyers at the weekend could not agree on whether the nation’s laws including the 2015 Administration of Criminal Justice Act allow masked witness to participate in court proceedings especially criminal matters. While some believe that it is a violation of fundamental rights where it is allowed, others say the 2015 Administration of Criminal Law makes provision for masked witness.

FOLUSO OGUNMODEDE JUDICIARY Editor

foluso.ogunmodede@ newtelegraphonline.com

Sollea Wagbu has approached a higher court to challenge her sentence and conviction on the grounds that those who gave evidence against her were masked throughout the trial. Wagbu was sentenced to death for killing her husband over an alleged suspicion of extra-marital affair. Four witnesses testified that Wagbu indeed killed her husband of 12 years because she wanted to marry another woman. The witnessess, all masked painted graphic details on how the convict procured a sharp kitchen knife which she used to stab the deceased husband to death. Despite resistance by the convict to an application to mask witnesses, the court allowed masked witnesses and found her guilty of the murder charge. What does the law say? Section 6 of the Constitution allows a court to conduct trial in camera but such power under the

It is not within the ambit of the law to present masked witnesses before a law court

section does not extend to other offences as the demeanour of witnesses is very crucial in a trial, one said. Section 232 (3) (b) of the Administration of Criminal Justice Act (ACJA) unequivocally allows witnesses to be masked whilst giving testimony in a trial of an accused person in at least four categories of offences, another said. But other differ. For instance, a rights activist, Mr. Oyagbile Oluseyi believes that to mask witnesses in a trial is an infringement of fundamental rights of an accused person as the demeanour of witnesses is very crucial in a trial. According to him, masking witnesses would not be in the interest of justice as their identity was not only necessary, it must be known to parties in criminal trial. Oluseyi said: A study of Evidence Act, Criminal Procedure Act, Criminal Procedure Rules and the Civil Procedure Rules of all courts show that witnesses’ identities must be known to all parties and they must be examined and cross examined in

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an open court. “Identity could be hidden in case of children and for national security but court must grant leave. So, in such cases, mask or other devices may be used. Oluseyi was echoed by another rights activist, Mr Morakinyo Ogele, who simply said masked witness was a violation of fundamental rights as enshrined in the Constitution as it had not been expressly provided for in the nation’s laws. This, Ogele said would backfire should it be allowed to go especially in the prosecution of some accused persons by the Federal Government. Also, Ogele believes that allowing application for masked witness could lead to impersonation as the identity of the witness would not only be hidden from judges but for the accused persons standing trial. He said: “The proceedings of the courts should not be cloudy. It should be clear as a summer sky. If you want to testify against me, I must know you. It is not within the ambit of the law to present masked witnesses before a law court”. Tobi Amoo and Chief Rafiu Balogun also share Ogele and Oluseyi’s view. They said masked witness would endanger the case of an accused person as law favours proceedings to be conducted in an open court. Amoo said “in my opinion, it’ll be detrimental to the case of the accused person. As a matter of law, an accused person has the right to know the identity of a witness and also cross-examine the witness while giving evidence against him in court. Masking a witness denies the accused person of that, and it would not serve the cause of justice. If at all his safety is at risk, then the trial may be done or his evidence taken in chambers”. Balogun believes “the general rule as provided for in the Constitution of the Federal Republic of Nigeria 1999 and the relevant provisions of the Criminal Procedure Act and the Criminal Procedure Code is that proceedings of the court shall be conducted in an open court to which the public generally may have access. He went on: “However, the Judge or Magistrate may exclude the public at any stage of the hearing on the grounds of public policy, decency or expedience. See Sections 202 and 203 of the CPA. “In other words, the law permits a trial to be conducted in camera in deserving cases. The recent Administration of Criminal Justice Act also allows protection of witnesses or Child offenders by conducting the trial in camera and or only CONTINUED ON PAGE 24

20 Law|NEWS

monDAY, APRIL 18, 2016 NEW TELEGRAPH

ACJA 2015: Court to hear ex-commissioner, AGF’s suit May 25 Tunde Oyesina Abuja

Federal High Court sitting in Abuja has fixed May 25 for adjudication over a suit challenging some sections of the 2015 Administration of Criminal Justice Act. The suit was initiated by a former Commissioner for information, Abia State, Dr. ACB Agbazuere. He is asking the court to determine whether the contentious sections of the Administration of Criminal Justice Act 2015 were not in conflict with the 1999 Constitution. Sued are the nation’s AttorneyGeneral and the National Assembly. They are to explain why the alleged contentious sections would not be expunged following their inconsistency with the Constitution. For instance, Agbazuere is challenging why the Act empowers the court to compel a defendant or an accused person to deposit certain amount of money or other forms of stringent conditions before bail was granted. Particularly, the former commissioner is contending that Section 165(2) of the Adminis-

tration of Criminal Justice Act, 2015 was in violation of Section 36 (5) of the Constitution of the Federal Republic of Nigeria ( 1999 as amended), which emphasized that anyone charged with a criminal offence shall be presumed innocent until proven guilty. However, Mr. Babatunji Coker who stood in for the Federation Attorney-General and S.T. Yenge for the National Assembly in separate applications raised objections to the suit. This however propelled Agbazuere to apply for an extension of time within which to reply the Preliminary Objections brought by the respondents. The trial judge, Justice Gabriel after listening to parties in the suit adjourned till May 25 for hearing. In the suit, Agbazuere is asking the court to determine whether the provisions of Section 165 (2) of the Administration of Criminal Justice Act, 2015 to the effect that a court may require a deposit of sum of money or other security as the court may specify from a defendant or his surety before bail would be approved, was not consistent with the provisions of Section 36 (5) of the Constitution of the Federal Republic of Nigeria ( 1999 as amended), to the effect that

Auta

every person who is charged with a criminal offence shall be presumed innocent until proved guilty. Agbazuere, in a 17-paragraph affidavit averred that the provisions of the new law was contrary to the 1999 Constitution. He insisted that if the law was allowed it would deprive an accused person who had no money or other security of his right to bail and eventual detention in prison custody until the required

money was paid even as he was yet to face trial for the alleged offence. He said: “The law is settled that the provisions of the Constitution of the Federal Republic of Nigeria is supreme and if any other law is inconsistent with the provisions of this Constitution, this Constitution shall prevail and that other law shall to the extent of its inconsistency be void by virtue of Section 1(1) and (3)

of the Constitution “That applicability of section 165(2) of the Administration of Criminal Act, 2015 will deprive Nigerian citizens of their liberty, freedom and fair hearing. “ With section 165(2) of the Administration of Criminal Justice Act 2015, the accused is to pay money before his bail can be approved when the prosecution has neither proved the essential ingredients of the case nor has the accused been found guilty. “By providing for the mandatory payment of money before bail is approved, Section 165(2) of the Act has now presumed every person guilty when he has not been tried and found guilty. It is an aberration and ambush against the people and should not be allowed to stand. “ At a time when the level of poverty in Nigeria is so alarming that the President has declared that Nigeria is broke and states cannot pay salaries to workers except with the aid of bailout funds which are also loans, any legislation imposing payment of money on Nigerian citizens before their bail is approved is not only inconsistent with the intendment of Section 36 (5) of the Constitution but also a bad law as it is anti-people”.

INEC to pay N400, 000 fines for denying lawyer of PVC Akeem Nafiu

ustice Ibrahim Buba of a Federal High Court in Lagos has ordered the Independent National Electoral Commission (INEC) to pay N4000, 000 for refusing to issue a Permanent Voter’s Card (PVC) to a Lagos-based legal practitioner, Mr. Chijioke Emeka. The judge also ordered the electoral umpire to immediately issue Emeka with the PVC. The lawyer was said to have been denied the use of his PVC during the last general elections after he had completed the registration and data capturing process. The plaintiff had filed an action against INEC in the suit ahead of the March and April 2015 general elections, complaining that INEC had failed to issue him with his PVC even though he registered to vote and was earlier issued with a voter’s card. In his originating summons, the plaintiff sought to compel INEC to issue him with a PVC to enable him to vote in the 2015 elections. The suit could however not be concluded before the elections. After the elections, the plaintiff amended his originating summons and raised four questions for determination, which included “whether by virtue of Sections 9(1) and 12(1) of the Electoral Act 2010, the plaintiff, being a Nigerian citizen who has met the requirements of the law and issued with a voter’s card by the defendant, is not entitled to be included in the National Register of Voters and issued with a Permanent Voter’s Card by the

Yakubu

defendant? “Whether the plaintiff ’s civil and legal rights was not breached by the failure of the defendant to issue him with a PVC, as a result of its mismanagement of its data-base or any other internal hitches; having thereby been excluded from voting in the 2015 general elections conducted on 28th March, 2015 and 11th April, 2015?” At trial, INEC’s lawyer, Ahmed Raji (SAN) challenged Emeka choice of originating summons by the plaintiff, arguing that it was improper. INEC also challenged the justiciability of the suit on the grounds that it was not supported by law and allegedly based on an unenforceable chapter of the Constitution. It further argued that the plaintiff lacked the locus standi to bring the action, not having shown any special interest in the

PVC issue. INEC also argued that the evidence in the case that the plaintiff’s information was wiped off

its data base was hearsay, saying that no remedy had been provided by law for the plaintiff’s case. In his reply, the plaintiff contended that he was in order to commence the suit through originating summons. He further claimed that he had locus standi as he was a victim of the PVC issue himself and that even if the law provided no remedy, the court would create a remedy once he had a right to the PVC. He added that the alleged loss of information in that data base was not the basis of the claim and that INEC staff never reported at any of the polling units in his area to distribute PVCs. However, in his judgement, Justice Buba while upholding the plaintiff’s claims held that the suit was properly commenced by originating summons. He also held that the suit was justiceable and that the court had

jurisdiction to entertain it. He also held that the plaintiff had locus standi to bring the action as he was asserting his right and a wrong he suffered personally. The court ruled that having been denied his PVC and an opportunity to vote, the plaintiff showed sufficient special interest to sustain the claim. Justice Buba also rejected the contention of INEC that the suit was based on hearsay evidence, holding that the side-talk of an INEC staff that some data was wiped off was not the fulcrum of the case. The court however granted a mandatory order directing INEC to forthwith issue the plaintiff with a PVC based on his voter’s card. INEC was also ordered to pay the plaintiff the sum of N400, 000.

Mile 12 riot: Accused persons know fate May 23 A

bout 117 persons arrested last month over riot which erupted in Mile 12 area of Lagos, will on May 23 know their fate as a magistrate’s court sitting in Ikeja has fixed definite trial. Scores of innocent lives were lost while tens of houses were razed to the ground in the riot which erupted in the Mile 12 market on March 3. However, the accused persons are facing a two-count charge of conspiracy to wit felony, unlawful assembly, acts in a disorderly manner and also disturb the public peace. According to the prosecutors,

Barrister Osuyi Goddy and Inspector Simon Imhonwa, the accused persons were said to have committed the alleged offence on March 3 at Agiliti, Mile 12, Ikorodu Road, Lagos. Goddy said the offence committed is punishable under Sections 409 and 45 of the Criminal Law of Lagos State 2011. All the accused persons had pleaded not guilty to the two count charge preferred against them. At the resumed hearing of the matter before Magistrate B.O. Osunsanmi, the state Assistant Director of Public Prosecution (ADPP) Mr. Jide Martins told the

court that the police was yet to forward the case file to the DPP. Martins asked for an adjournment to enable the police to forward the case file to the DPP. Magistrate Osunsanmi granted the request and adjourned the matter to May 23 for hearing. The court had in its last sitting granted each of the accused persons bail in the sum of N200, 000 with two sureties in like sum. She ordered that the sureties must be blood related and have a verifiable address. She also said that the sureties must be a regular tax payer and must present evidence of tax payment for the last three years

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monDAY, APRIL 18, 2016 NEW TELEGRAPH

Saraki, Orubebe before the law TUNDE OYESINA writes that the duo of Senate President, Dr. Bukola Saraki and the erstwhile minister of the Niger Delta Affairs, Elder Godsday Orubebe may come out stronger after all

lthough the Federal Government has said it had enough evidence to send the President of the Senate, Dr. Bukola Saraki and the immediate past minister of the Niger Delta to prison over allegations of false declaration of assets, corruption and illegal operation of foreign bank’s account, the accused persons may come out unscathed going by the arrays of brilliant lawyers handling their matter. Like Saraki, like Orubebe, the onus to prove their innocence before the Code of Conduct Tribunal has become the major task before their lawyers. While a former Justice Minister and Attorney-General, Mr Kanu Agabi, SAN is defending Saraki, Orubebe has engaged another Senior Advocate, Mr Larry Selekeowei to prove his innocence. Like Orubebe, Saraki’s trouble began shortly after he emerged as the President of the Senate in a keenly contested election, the process which produced Saraki’s leadership is being challenged though. Three months after, his alleged corrupt practice while holding sway as Kwara State governor was brought to the fore. Saraki, who defected to the ruling All Progressives Congress (APC) from the Peoples Democratic Party (PDP) was accused of false declaration of assets. He was consequently docked by the Federal Government at the Code of Conduct Tribunal. His offence The Federal Government had on September 22, 2015 docked Saraki before the Tribunal on a 13-count criminal charge bordering on corruption, false declaration of assets, and illegal operation of a foreign bank account while in office as the governor of Kwara State. After about seven months of traversing the hierarchy of courts in the country, Saraki’s trial finally started last Tuesday. The prosecution called its first witness, Michael Watkas who revealed how Kwara State funds was allegedly manipulated by the Senate President. Watkas who is an investigative officer with the EFCC had told the tribunal on how Saraki operated three different accounts with Guaranty Trust Bank. The accounts, according to the witness are domiciled as Naira, Dollar and Pound sterling accounts. He had further revealed that in a single day, the Senate President had made about 70 lodgements through his personal assistant on domestic affairs. The witness also told the court that there are about three companies the funds were being released to and specifically the funds were used to acquire properties. Besides, the witness painted graphic details on how Saraki kept receiving salary from the Kwara state government four years after leaving the office as the governor. Earlier before the trial commenced, when the charge was read to Saraki, he pleaded not guilty to

the charge marked ABJ/01/15, which the Federal Ministry of Justice preferred against him following a recommendation by the Code of Conduct Bureau (CCB). In the charge, Saraki was alleged to have made false declaration in the Assets Declaration Form for Public Officers on assumption of office as governor of Kwara State in 2003 by making anticipatory declaration of a property, No 15A and 15B McDonald, Ikoyi Lagos, when in actual fact the property was sold to him in 2006 in the sum of N396, 150, 000 by the Implementation Committee on the Federal Government Landed Properties. Saraki was also alleged to have between October 2006 and May 2007, while he was governor, acquired a property from the Federal Government in the sum of N497, 200, 000; a sum which is not fairly attributable to his income, gift or loan approved by the Code of Conduct for Public Officers and which he wrongly claimed to have acquired from proceeds of sale of rice and sugar commodities. In the charge, Saraki was said to have committed the offences under Section 15 of the Code of Conduct Bureau and Tribunal Act, Cap. C15, Laws of the Federation of Nigeria, 2004 and as incorporated under paragraphs 11(1) and (2) of Part I, Fifth Schedule of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and punishable under Section 23 (2) of the Code of Conduct Bureau and Tribunal Act and as incorporated under paragraph 18 of Part I, Fifth Schedule to Constitution of the Federal Republic of Nigeria 1999 (as amended). On June 3, 2011 Saraki allegedly made a false declaration in the Assets Declaration Form for Public Officers at the end of his tenure as governor of Kwara State in 2011 by refusing to declare Plot 2A, Glover Road, Ikoyi, Lagos which he acquired between 2007 and 2008 through his company, Carlisle Properties Limited from the Central Bank of Nigeria (CBN) for N325 million. Also, Saraki allegedly operated a foreign bank account while he was the governor of Kwara State. He was further alleged to have transferred $73, 223.28 from his GTB domiciliary account No 441441953210 to the American Express Bank, New York card account No: 374588216836009. The offence is said to be committed contrary to paragraph 3, Part I, Fifth Schedule to the Constitution of the Federal Republic of Nigeria 1999 (as amended) and Section 7 of the Code of Conduct Bureau and Tribunal Act and punishable under paragraph 9 of the said Fifth Schedule. Saraki had after pleading not guilty to the charge, admitted to bail on personal recognizance. Defence Senate President approached the Federal High Court, Court of Appeal and the Supreme Court

Saraki

Saraki’s trouble began shortly after he emerged as the President of the Senate in a keenly contested election

Orubebe

seeking to stop his trial. The trial judge at the Federal High Court, Justice Abdul Kafarati is yet to deliver judgement in Saraki’s application. The judge refused to deliver judgement at the last adjourned date on the grounds that an online medium had reported that he (Kafarati) had been bribed to favour the applicant. At the Court of Appeal, the panel of Justices held that the Senate President should go back to the tribunal to face his trial. Dissatisfied, Saraki approached the apex court to upturn the decision of the lower court, predicating his argument on the grounds that the tribunal lacked jurisdictional powers to entertain the matter. He submitted that when the charge was preferred, there was no substantive Attorney-General of the Federation and that the members of the tribunal being two instead of three lacked the powers to sit over the matter. In his ruling, the apex court upheld the decision of the appellate court and consequently asked Saraki to go back to the tribunal to face his trial. Trial When Saraki finally returned to the Tribunal, he had however fortified his legal team by employing a former Attorney-General of the Federation, Chief Kanu Agabi SAN, to lead about 80 other lawyers. At the resumed trial, Saraki filed another application to challenge the jurisdiction of the tribunal to entertain the suit brought by the Federal Government against him. Ruling on the application, the Chairman of the tribunal, Danladi Umar on March 24 refused the application filed by Saraki, seeking to quash the 13 count charge of false and anticipatory assets declaration preferred against him. The tribunal assumed jurisdiction to entertain the case. He further resolved all the issues raised by the Senate President against him. In addition, the tribunal ordered the prosecution to open its case against the defendant.

Umar held that the AttorneyGeneral of the Federation was competent to institute charges before the CCT. The tribunal also held that Saraki’s contention that he was being prosecuted for offences allegedly committed about 13 years ago was out of place and that the Saraki’s reliance on its (CCT’s) earlier ruling dismissing the charges against a former governor of Lagos State, Bola Tinubu, was wrong. Umar further held that the tribunal had since realised that the ruling discharging Tinubu was made in error. Orubebe While Saraki is battling to wriggle out himself from the legal logjam, the case against Orubebe has just begun. For Orubebe, his travail began on November 19, 2015 when the Federal Government arraigned him before the Code of Conduct Tribunal on a-four count criminal charges bordering on false declaration of assets and bribery. Although, stakeholders have said that Orubebe’s travail cannot be unconnected with a display he puts up during the counting of the last year presidential votes, wherein he challenged the former chairman of the Independent National Electoral Commission, Professor Attahiru Jega for his alleged refusal to heed the PDP’s request to suspend the 2015 general elections. Orubebe however pleaded not guilty to each of the four counts preferred against him by the Code of Conduct Bureau. However, the trial could not go on following the failure of prosecution to assemble its witnesses. Consequently, chairman of the tribunal, Danladi Umar has adjourned further hearing while admonishing the prosecution to make its witnesses available on the adjourned date. Offence In counts one and two, Orubebe was accused of failing to declare his assets at Plot 2722 Kyamu and Plot 2059 in Asokoro District both in Abuja on assumption of

C O N T I N U E D O N PA G E 2 3

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monDAY, APRIL 18, 2016 NEW TELEGRAPH

1175.445 acres of land split Ogun communities Akeem Nafiu

wnership of a vast 1175.445 hectares of land situated in Ere Ward, Ado-Odo/Ota Local Government area of Ogun State is now a subject of litigation between two communities at an Ogun State High Court in Otta. No fewer than 250 houses, cash crops, livestock, among others had been allegedly destroyed since the feud erupted . In a suit marked, HCA/1/12, filed by Akasun Community before Justice Solanke of the Ogun State High Court, Ota, 18 claimants who sued on behalf of themselves, their family as well as accredited representatives of Akasun community are asking the court to award N20 million as general damages and another N17.250 million being the estimated value of some of the claimants’ properties which were seized, destroyed and or damaged as a result of an allegedly invasion by the defendants. Represented by their law-

yer, Nojim Tairu of Nojim Tairu & Co Chambers, the claimants in their statement of claim are also asking the court for a declaration that a judgement of the court in HCT/8A/2001 relating to Aakasun Ilase Village whereby the substantive judgement of the Ado-Odo Grade II Customary Court in Suit AD2/57/99 delivered on June 8, 1999 was reversed and which judgment in HCT/8A/2001 was subsequently affirmed by the Court of Appeal, Ibadan and the Supreme Court, does not relate to them. The claimants further asked that the allegedly invasion of their community land, seizure/destruction of property between August 18, 2010 and May 11, 2011 pursuant to defendant’s purported execution of judgments in MT/25/2011, HCT/8A/2001, CA/1/219/2002 and SC/129/2005 vide warrant of possession dated July 12, 2011, is unlawful, null and void. The claimants in their amended statement of claim pointedly accused the defendants of launching unwarranted and unprovoked attack on their community (the sub-

ject matter of the suit) leading to the destruction of about 260 houses worth N15million; their displacement; carting away of 250 cows, 400 goats, 700 pigs, 800 ducks and other domestic animals kept by them. They also alleged that food and cash crops belonging to them including yam, cassava, maize, palm kernel, plantain, banana, paw-paw worth about N500 million were either destroyed or harvested, eaten and/or taken away by the defendants during their encroachment on the land. However, the first to sixth defendants who represented the Asade Family otherwise known as Oniboto Family of Ado-Odo, insisted that nothing would be farther from the truth. Represented by their lawyer, Ayodele A. Omoniyi, in their statement of defence dated March 24, 2014, they insisted that the claimants by their own claim had no common root of title with distinct holdings in consequence of which there was nothing or land known as Akasun com-

Amosun

munity land. While pointing out that there was only one settlement known as Akasun in the entire AdoOdo/Ota Local Government, they insisted that Okewaye/ Idasajon farmland, Idasoba/ Ileko farm were all situated at Akasun. They further stated that the Ado-Odo agricultural farm settlement is situated at Ado-Odo and not at Akasun. At the last hearing of the

matter, the court reinstated its order made on November 5, 2013 wherein it ordered that the status quo be maintained pending the final determination of the suit. The order of the court was sequel to an observation by claimant’s lawyer, Nojim Tairu, that the peaceful occupation of the subject matter was been threatened by the defendants. Further hearing in the matter has been adjourned to June 9.

Land dispute: Court orders Pastor, businessman to maintain status quo Akeem Nafiu

ustice Adebisi Akinlade of an Igbosere High Court has reaffired an order restraining a Lagos Pastor, Paul Adefarasin and his church, House on the Rock from taking over a land allegedly belonging to a businessman, Gerald Chukwueke. The businessman and four others, had filed a suit through their lawyer, Moyosore Onigbanjo (SAN) against Adefarasin and his church for allegedly trespassing on the land located in Lekki area of the state. The businessman and other claimants Chinelo Chukwueke, Mrs. Martha Chukwueke, Germaine Logistics Limited & Germaine Auto Centre Limited are also seeking from the defendants the sum of N180 million as legal fees In a ruling, Justice Akinlade ordered that parties in the matter should maintain status quo ante bellum as it existed on March 15 when the defendants were served with the processes pending the hearing of an interlocutory application filed by the claimants. The judge had on March 17 restrained the defendants, their servants, agents or privies from demolishing or removing any structure whatsoever be they temporary or permanent on the claimants premises located at plots 15, 16, 17 and 18 located at 188 Ikate, Lekki, Lagos. The court also barred the defendants from commencing any development, construction, building or erecting any structure whether temporary or permanent in any

manner whatsoever on the land. At the proceedings, claimant’s lawyer, Moyosore Onigbanjo (SAN) told the court that he had served all the defendants with the processes in the matter, adding, the defendants had responded by filing a counter affidavit to his motion on notice. On his part, lawyer to the 1st and 2nd defendants, Gabriel Uduafi agreed with the position of claimants’ lawyer but said he would file the statement of defence before the expiration of the 42 days allowed by law. Before the judge adjourned the matter, Onigbanjo urged the court to renew her earlier order restraining the defendants by directing parties to maintain status quo. The lawyer insisted that it would be in the interest of justice for the court to grant his request

Atilade

so that the subject matter would be preserved. However, Uduafi opposed the application, arguing that his clients had already taken possession of the land with a valid registered title. In a short ruling, Justice Akinlade overruled Uduafi and ordered parties to maintain status quo pending the hearing of the interlocutory application.

The judge then adjourned the suit to June 2, for mention. Other defendants in the suit apart from Adefarasin are the Incorporated Trustees of the Rock Foundation, the Registrar of Titles, Lagos State Land Registry and the Attorney-General of Lagos State. In the motion on notice, the claimants alleged that Adefarasin and his church sometimes

in January 2016 repeatedly trespassed on their premises. They also averred that when their lawyer wrote them over the alleged illegal action, the first and second defendant claimed that they acquired ownership and possession of the property by virtue of a Deed of Assignment registered as No. 98 in volume 2513, executed in their favour by Diamond Bank Plc.

N100m suit: Akpabio’s aide knows fate May 2 Tunde Oyesina Abuja

n aide to former governor of Akwa Ibom state and Senate Minority Leader, Senator Godswill Akpabio, Aniete Ekong will on May 2 know his fate over allegation of sexual harassment preferred against him by a 30 year-old graduate of Theatre Arts, Paula Lawrence. Ekong was last week dragged before Justice Bianca Nyako of the Federal High Court sitting in Abuja over the alleged sexual harassment. The plaintiff, Lawrence is however asking the court to compel Ekong to pay N100 million in damages for what she described as emotional, psychological, reputational pain and torture she had been caused as a result of the alleged harassment. In the suit number FHC/ ABJ/CS/121/2016, Paula ac-

cused Ekong of having canal knowledge of her without her consent. The plaintiff through her lawyer, Oseni Bamigbaiye is seeking an order of the court to restrain Ekong from further harassing, threatening and invading the privacy of his client and an order compelling him to tender an unreserved and written apology in the social media through which he allegedly defamed her. According to Paula, Akpabio’s aide allegedly drug-induced her and had canal knowlege of her and took her nude pictures and circulated them on the social media shortly after their meeting in an hotel in Uyo, Akwa-Ibom state. In an affidavit in support, Lawrence painted graphic pictures on how they met about two years ago. She said she met Ekong sometimes in 2014 during the commissioning of the international stadium in Uyo where they allegedly ex-

changed numbers. According to her, they both met at an hotel in Uyo, where her nude picture was allegedly taken and circulated on social media after abusing her sexually. “That in the room, he brought out a bottle of red wine from the luggage in his wardrobe. At that time, I was pressed and had to use the toilet. Before I came back, he had poured the wine in the glass. “That I drank from my glass of wine, while he drank from his. When I wanted to drink from his glass of wine, he refused, saying I should drink from mine. Shortly after drinking I started feeling dizzy and drunk. He made love to me and I slept off till the morning. I did not know that while I was drunk, he took nude picture of me with his cell phone camera”. However, Justice Nyako has fixed further hearing in the matter to May 2 for consolidation of court processes.

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monDAY, APRIL 18, 2016 NEW TELEGRAPH

Corruption: Banire presents FOI, whistleblowers’ bills to Ogun Assembly Kunle Olayeni Abeokuta

non-governmental organisation (NGO), United Action for Change (UAC), has presented the Freedom of Information Bill and Whistleblowers Protection Bill for domestication to the Ogun State House of Assembly. The group, convened by the National Legal Adviser of All Progressives Congress (APC) and Senior Advocate, Dr Muiz Banire said the two bills were intended to strengthen the fight against corruption in the country. The private bills were received by the Speaker of the House, Suraj Adekunbi at the committee room of the Assembly in Abeokuta, the state capital. Banire said the bills would significantly assist in tackling graft in the country should they be passed into law. He observed that in spite of the fact that few states had already domesticated the FOI Act, certain challenges had continued to hinder its operations. He said: “The issue of in-

formation which the Act deals with, even though a federal legislation does not have a nationwide application because it is not an item under the exclusive legislative list or concurrent list but placed in the residual list of the Constitution. “What that means is that even though there is a federal legislation on it, the said federal legislation does not apply in the state, except the laws are domesticated. So, the FOI and whistleblowers bills can only apply in those states where they have been domesticated. This is what we seek to achieve. “The federal FOI Act has 32 sections inclusive of the interpretation and citation sections. The proposed Ogun version has 33 sections inclusive of the interpretation and citation sections. The new sections in the proposed Ogun State bill are sections 20 and 21. “The old section 20 of the FOI Act provides for judicial review. The new Ogun State section 20 provides for complaint commissioner. The new Ogun State bill section 21 provides for Appeal Commissioners. “The need for accountabil-

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

office as minister on September 26, 2007. In count three, he allegedly accepted N50m bribe from one Pastor Jonathan Alota on September 19, 2012 for award of contract in favour of his (Alota’s) company, Chemtronics Nigeria Limited. In count four, he allegedly accepted additional N20m bribe from Alota in 2013 for the award of a contract to Chemtronics Nigeria Limited for the construction of skill acquisition Centre at Edo State for the sum of N1.8bn. He is said to have committed the offences of false assets declaration under Section 15 of Code of Conduct Bureau and Tribunal Act Cap C15 Laws of the Federation of Nigeria 2004. The offence is also said to be contained in paragraph 11(1) & (2) of Part I, Fifth Schedule to the Constitution of the Federal Republic of Nigeria 1999 (as amended) and punishable under Section 23(2) of the Code of Conduct Bureau/Tribunal Act and as incorporated under paragraph 18 of Part 1, Fifth Schedule to the Constitution of the Federal Republic of Nigeria (as amended). The bribery offences are said to be contrary to Section 10 of the Code of Conduct Bureau/Tribunal Act as incorporated under paragraph 18 of Part 1 Fifth Schedule to the Constitution of the Federal Republic of Nigeria (as amended). Trial After his plead was taken, the prosecution refused to open its trial. This however got the tribunal annoyed with a threat to throw out the case if the Federal Government was not ready to push it further. However, on March 8, 2016, the Federal Government amended the charges it preferred against Orubebe

ity and transparency is even greater now than ever before as the trust of the present administration both at the federal and state level is anchored on the change mantra of the

ruling party and the very reason Nigerians gave them massive support during the last general elections. “It is our fervent belief that the effects of these bills, if

Banire

Saraki, Orubebe before the law

before the Code of Conduct Tribunal. The amendment saw a number of the original counts filed against Orubebe reduced from four to one with the elimination of the charges bordering on the acceptance of N70m bribe by the ex-minister. In the former charge, the first two counts bordered on false assets declaration, while the other two counts related to bribery. Only one count bordering on false assets declaration was retained in the new charge as only one of the two plots in Abuja, which Orubebe was earlier accused of having failed to declare as part of his assets on assuming office in the Niger Delta ministry on September 26, 2007 and on leaving on June 29, 2011, was retained in the new charge. He was also accused of having failed to declare Plot 2722 Kyamu and Plot 2059 in Asokoro District both in Abuja on assumption office and on leaving. The prosecution has however removed Plot 2722 Kaymu District in the new charge. However, the Federal Government on April 6 opened its case against Orubebe. The prosecution at the resumed trial presented its first witness, Samuel Madojemu, an official of the Code of Conduct Bureau. While testifying, Madojemu told the tribunal that Orubebe failed to declare his property at Plot 2057, Asokoro District, Abuja, as a minister between 2007 and 2011. He added that Orubebe submitted five asset declaration forms to the Bureau between 2007 and 2011 within the period he served as minister. He also stated that Orubebe sub-

mitted the five forms to the CCB first as Minister of Special Duties under the administration of the late President Umar Yar’adua, and later as Minister of Niger Delta Affairs up till 2011 under former President Goodluck Jonathan’s administration. Madojemu also said that the Certificate of Occupancy for the property obtained from the land registry of the Federal Capital Territory Administration showed that it was issued to Orubebe on April 10, 2011 but that the former minister failed to declare it as of the time of leaving office on May 29, 2011. The witness, who was led in evidence by the Director of Public Prosecution of the Federation, Mohammed Diri said Orubebe refused to honour invitation by the Bureau during the investigation of an intelligence report obtained concerning him. “The defendant declared his assets to the Bureau by virtue of his position as a public officer and as a minister of the Federal Republic of Nigeria. “I was instructed to invite him to the Bureau for the purpose of obtaining his statement on the allegations and intelligence report that was being handled by the bureau concerning him. “I invited him. He promised to respond by sending his legal team. He also promised that he might decide to come in person but he did not come. “My Lord, the Bureau issued him with Form CCB 1 which is the Bureau’s asset declaration form and he made his declaration between 2007 and 2011 – the period under investigation. “The Code of Conduct Bureau issued the defendant the Form CCB 1 five times. For those five times, he made his asset declaration to the bureau. “My Lord, after we received the form, we examined the form as part of

passed, will trickle down to the local government level in order to fight corruption to a standstill and ultimately eliminate it from our body polity.” Banire, however, pointed out that the proposed FOI Bill for the state had addressed the defects identified in the federal law. The former commissioner noted that the essence of creating the office of the Complaint Commissioner, who would also function as the Ombudsman and the Complaint Tribunal, is to resolve disputes relating to rejected request for information. In his remarks, the Speaker commended the patriotism and genuine concern for change in the country demonstrated by Banire and his group. Adekunbi said the House attempted to domesticate the FOI during the 7th legislative session but the effort suffered a setback. He, however, assured that the two bills would be thoroughly looked into by the lawmakers, urging the group to keep up its advocacy and sensitization activities. The Speaker urged Nigerians to show more interest in the business of governance, saying government remains a collective responsibility.

our procedures to ascertain if there was over-declaration or under-declaration. “We conducted intelligence assessment on the declaration made by the defendant. We discovered that there were some other plots or properties that were traced to the defendant, Godsday Orubebe. “We conducted record examination by writing a letter to the Federal Capital Territory’s Department of Land Administration. “My Lord, in their response, which was in writing, it was indicated that Plot 2057 Asokoro District for which the Certificate of Occupancy was issued on April 10, 2011, belong to the defendant. “We thereafter compared the information arising from response from the FCT land administration department with the information on asset declaration forms submitted to the Bureau between 2007 and 2011 and discovered that Plot 2057 Asokoro District belonging to the defendant was not declared even as at May 29, 2011 when he left office. “Apart from the letter from FCT land administration registry, we also received Certified True Copy of the Certificate of Occupancy in respect of Plot number 2057 issued to the defendant. “We also received the CTC of the Right of Occupancy for that same Plot No 2057 issued to the defendant. “Also received from the FCT land administration registry, was a letter of authority, given to one Engineer Rodney by the defendant to collect the Certificate of Occupancy and the Right of Occupancy from the FCT land registry. It was supported by the (international passport) page of the defendant”, he stated. He however told the court that the reason for inviting Orubebe was to ask him why he failed to declare the asset which he acquired about one month to the expiration of his tenure.

24 Law|news

monDAY, APRIL 18, 2016 NEW TELEGRAPH

‘Why masked witness vitiates fair hearing’ C O N T I N U E D F R O M PA G E 1 9

in the presence of only the court officials and the parties. “But I must say that I have not come across any provision which permits the wearing of a mask by a witness. I am afraid the present legislations with respect cannot or should not be interpreted to accommodate masking of witnesses. Why that cannot be done is that the Judge or Magistrate must watch the demeanour of witnesses while giving evidence. That is, his countenance while being crossexamined may reveal that he or she is not a witness of truth. If the face is covered there is no way the Judge and lawyers can study his demeanour or reaction when questions are put to him. “I think what can be done is to create a curtain or device in court so that only the Judge, court officials and parties can see the witness they intend to protect. “The public will not be opportune to see the witness but they can listen to his or her testimony. I don’t believe masking the witness will achieve the desired results because the witness will still announce his name and address. So, what is the essence of covering his face? I think our laws as they are, adequately provide for protection of the witnesses and masking them is ridiculous and will not assist the cause of justice because the demeanour of the witnesses cannot be seen when their faces face are covered”. But others differ. Comrade Femi Aborisade, national president of the Committee for the Defence of Human Rights (CDHR), Malachi Ugwumadu, Secretary of the Oyo branch of the Nigerian Bar Association (NBA), Mr. Jide Olanipekun, Kehinde Adesiyan and Samuel Ayodele Banjo said masked witness had the backings of the law. Aborisade said: “Section 232 (3)(b) of the Administration of Criminal Justice Act (ACJA) unequivocally allows witnesses to be masked whilst giving testimony in the trial of accused persons in at least four categories of offences listed in Section 232 (4) of the same ACJA. “The first category is in proceedings involving unnatural offences or offences of indecent assault such as rape, defilement and incest. The second category is trials involving offences under the Terrorism (Prevention) Amendment Act; the third is offences relating to the Economic and Financial Crimes, while the fourth is trial in offences of trafficking in Persons and related offences. “As Section 232(3) makes clear the rationale for permitting masked witnesses is either to protect the victim or the witness. “But Section 232(3) of ACJA does not make masking automatic in any of those categories of offences; it is subject to the discretion of the court (or the Judge) where the court deems it necessary. “However, the need to protect the witness and the victim (who

Mohammed

may also be the witness) ought to be balanced against the possibility of abuse, particularly in a society where impunity and tendency to intimidate, dominate, and/or manipulate the judiciary is strong within the context of obscene executive lawlessness, perennial disobedience of court orders and disdainful disrespect for constitutionally guaranteed and universally recognized fundamental rights. “This is where the danger lies. This is where I have my fears. I am deeply disturbed by the effects of Section 232 of ACJA under which masking of witnesses is allowed in the context of a phenomenon in which the Federal Government has shown bizarre disdain for the universally recognized right for the struggle for self-determination. “I am concerned about the possibility of the festering of governmental tyranny in the context in which several Shiites and pro-Biafran protesters have been allegedly killed and El-ZakZakky, the leader of the Shiites has been in incarceration for months now without trial for any specific offence and without anybody, including his lawyer, Femi Falana, SAN, being allowed to have access to him. There are also moves to try Kanu, the pro-Biafra leader, in secrecy. “The judiciary is helpless in the context of Section 232 of the Administration of Criminal Justice Act (ACJA). “This is because the judge has no choice but to administer justice, according to law. If the prosecutor presents a danger that government witnesses are in danger if they testify without masking, the Judge may have no discretion but to grant such requests. “The challenge is for the citizenry and democratic mass organizations of the civil society who are not nurtured and sponsored by state actors to cry out that masking should not be allowed in trials that are political in nature such as those involv-

Judiciary is helpless in the context of Section 232 of the Administration of Criminal Justice Act (ACJA)

Malami

ing agitation for self-determination and resistance to repression of groups or individuals on the grounds of their religious beliefs”. Ugwumadu said: “Yes. The law approves of it in the same way the court can order that the entire trial be conducted in camera. Judicial processes and adjudicature itself is by the Constitution the business of the judiciary under Section 6. “Judges are also expected to take charge of their courts. If they fail to do so, the tendencies are that the court can be overreached. Sometimes, parties to a suit particularly in criminal matters can apply that the matter be tried in camera. “But most importantly, the court itself can ‘sou moto’ declare and order that matters be heard in camera. Now, if the court can take that general posture by which it will restrict and limit the number of persons who will witness proceedings, then, how much more the protection of witnesses. Witnesses are masked to keep them away from the full glare of the public. Furthermore, depending on the public disposition to the matter, the court may be further minded to protect a witness because it may be impossible to get to the root of the matter without those witnesses. Again, the court can decide to do that in order to protect the victims from attack or mob action as the case may be”. To Olanipekun, “our law is very clear on how trials, especially criminal ones should be conducted. “Trial is mainly conducted in public where parties, counsel, family of the parties or victims, journalists and other on-lookers are allowed to watch the proceedings and see face to face witnesses giving evidence for or against the accused person(s). “Trial in camera, that is, in the Judge‘s chambers with only the parties and their counsel is exception to the rule and such is rarely conducted and if the court will allow such, it will be in very sensitive cases that should be shielded from the public glare.

Example could be found in matrimonial cases involving custody of children which may unbalance the emotion and psychology of young children. In such, the marriage may be conducted in camera. “Masked witness on the other hand is for witness, protection scheme; to shield witness(es) from the glare of the accused persons and the public so as not to endanger the life of such witness after giving evidence. “Masked witness is rarely allowed just like trial in camera. Although the 2015 Administration of Criminal Justice Act grants Judges’ discretion to protect witnesses, however, masked witness is not specifically provided for. Masked witnesses are allowed occasionally during trials associated with terrorism or notorious gangs where other members of the vast network of such group may want to deal with such witnesses after testifying. As good as protection of witnesses may sound or be, it should be balanced with the rights of the accused person who is deemed innocent until proved otherwise as provided for by the Nigerian Constitution. “The question is how will the judge study the face of the witness to see the demeanour in order to determine whether the witness is telling the truth or not if the witness is masked? Justice in criminal cases is meant to be for three sets of people: the state (prosecution), the accused and the public. “I will submit that masked witness should only be allowed in a very rare occasion in proceedings involving terrorism not in regular criminal trial of treason like the ongoing one by Nnamdi Kanu. If the masked witness is abused and become instrument of persecution instead of prosecution in the hands of the prosecutors in less sensitive cases like that of Kanu, interest of justice will not be served”. Adesiyan said: “In Nigeria and indeed other jurisdictions of the western world, witnesses can be shielded to give testimony in camera, but this can only be done with the leave of the court and in criminal matters. “The primary reason always adduced by applicant is the security of the witness concerned and national security and the religious values of our society. The integrity and sacredness of women and underage children mostly in rape and defilement cases attract shielding”. Banjo said “the Constitution prescribes open trial in court. However, secret trial is not strange to the Nigerian Legal system. “It is usually to protect the identity of a victim or other persons, especially in serious criminal cases. Masked witness is an aspect of secret trial but it has its complications. “The identity of a witness may be an issue on its own. Where this is an issue, the identity must be open. Mr. ‘A’ who is not familiar with the case could disguise as Mr. ‘B’ to give evidence. This will no doubt affect the weight to be attached to such evidence.”

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Interview Exploring brownfield option in pension fund investment

Business What's news GTB, UBA, Ecobank face fierce contest in Kenya

Money Line Naira stable as forex dealers wait on budget

34 36

Rates Dashboard INFLATION RATE March 2016...............................12.8% February 2016............................11.4% January 2016..............................9.6%

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

EXCHANGE RATE

(BDC as at April 15)

(Interbank as at April 15)

USD . . . . . . . . . . . . . . . . . . . . . . . N321 Pounds . . . . . . . . . . . . . . . . . . . N450 Euro . . . . . . . . . . . . . . . . . . . . . . N359

l Foreign Reserves – $27.450bn as at 14/4/2016

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . N307 Euro . . . . . . . . . . . . . . . . . . . . . N224

Source: CBN

p.26

Nigeria’s rice imports dip by N86.8bn

L-R: Executive Director (Technical), Ledex Company, France, Paul Kerkhofs; MD/CEO, Cited Development Limited, Capt. Dayo Ogunleye and Executive Director (Finance), Selective Security Limited, Toyin Obilana, during the public presentation of E40 Intelligent and Ping Pong Light Bulb, held at Airport Hotel, Ikeja, Lagos.

p.26

Nigeria’s fiscal woes worsen as buyers shun $4.9bn oil The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

DOWNGRADE The OPEC has cut its forecast for global oil demand growth in 2016, pointing to a larger supply surplus this year

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Adeola Yusuf

igeria’s crude worth $4.961 billion remained unsold at the weekend, as buyers discarded 55 cargoes, amounting to 112.75 million barrels of the country’s May crude loading at the global market. Buyers’ apathy and crude supply glut at the international market worsened last Friday, the day oil benchmark briefly sold off, breaking below $45 a barrel. Brent crude, which is used to benchmark Nigeria’s oil price, sold at $43.49 at the weekend. While the country’s 55 May-loading cargoes are yet to find buyers, the loading programme for June is expected to be unveiled this week,

dashing hope of sales’ recovery. A provisional loading schedule seen by New Telegraph at the weekend showed that the June cargoes are to get to market before Friday, adding to a large quantity of oil for May export that was still on sale. “Nigerian cargoes have sold even slower, with around 55 November loading cargoes yet to find buyers and the loading programme for June is to appear as early as Wednesday,” the schedule showed. Checks by this newspaper showed that a Very Large Crude Container (VLCC), which is commonly used in the crude oil industry, could carry between 1.9 million and 2.2 million barrels of crude oil. While one cargo carries an average of 2.05 million barrels, the 55 unsold cargoes amount to 112.75 million barrels. “There were around 20 of 55 cargoes for May export available,” a trader said, making reference to the May schedule. He added that there were “about two Akpo cargoes, 3-4 Bonny and 2-3 Brass River, and three Brass River cargoes available for purchase”.

51.987 million barrels Total crude exported from Nigeria to OPEC market in March

The shorter supply of Nigerian oil due to the outage helped to support differentials, as did lower freight rates that make exporting crude to Asia more affordable. Repair work on the pipeline feeding Nigeria’s Forcados crude oil to the export terminal is expected to take until June, sources familiar with the matter said. Earlier, a tender from Uruguay’s ANCAP took a cargo of Bonny from Litasco, traders said. MRPL also issued a tender for June loading cargoes. It is set to close on April 22. International Oil Companies (IOC) issued another tender to buy June-loading crude from West Africa. India’s BPCL is also running a tender to buy oil for loading in the second half of May. Although, trade was also slow for Angola’s May loading, with around 4-5 cargoes of Angolan May loading cargoes still available for purchase, the country did better than Nigeria. CONTINUED ON PAGE 26

BUSINESS |news

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

GTB, UBA, Ecobank face fierce contest in Kenya DOMINANCE Eighty per cent of Kenyan’s cash is locked in the seven biggest banks in the country Tony Chukwunyem

here are indications that the recent series of bank failures could trigger a wave of mergers and acquisitions in the Kenyan banking industry, which would result in increased competition for Nigerian lenders with operations in the East African country. In the last few weeks, the Kenyan authorities have placed three lenders- Chase Bank, Imperial Bank and Dubai Bankunder receivership, a development, analysts say, could lead to depositors seeking safety in the biggest financial institutions. Three Nigerian banks, Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA) and Ecobank Plc currently operate in the Kenyan market, which even, before now, had a reputation for being one of the most difficult markets on the continent for foreigners. Ecobank and UBA launched their operations in Kenya in 2008 and 2009 respectively but since then have struggled to make a dent on the lead enjoyed by local and British banks. However, GTBank, which opened open offices in Nairobi in early 2014, had said it hoped to catch up with the industry’s

UNFAVOURABLE Thailand rice traders groan over sharp drop in export to Nigeria

Bayo Akomolafe

or the first time in one decade, rice import to Nigeria has dropped by N86.8 billion ($430 million) or 1,000,000 metric tons in the last one-year (between 2014 and 2015). The price of the commodity is $430 per ton in the global market. A data from the United State Department of Agriculture (USDA) revealed that in 2014, rice importation to Nigeria was 3.5million metric tons but it dropped to 2.5 million metric tons or 28.57 per cent in 2015. This year, rice imports for the month of February had also dropped to about 700,000 tons from January’s 1.2 million tons due to Nigeria’s foreign exchange policy. Nigeria, Africa’s biggest economy, is facing its worst crisis in decades, as the fall-

tier one lenders by 2019. GTBank bought a 70 per cent stake in Kenya’s Fina Bank for $100 million in 2013 to give it access to the wider east Africa market including Tanzania. Fina was ranked the 19th largest bank in Kenya out of 43 in 2010. Then, GTBank’s Chief Executive Officer, Mr. Segun Agbaje, said, “When you come into any market, you have to bring something different. There are about six banks, which are considered tier 1. We are going to move this bank from where it is to just under the tier 1 banks over a five-year period”. Commenting on the recent collapse of three banks in the East African nation, Cytonn Investments Management

Ltd., a Nairobi-based money manager, stated that consolidation was inevitable in the $61 billion Kenyan economy, where 42 banks serve 44 million people, compared with 22 banks in Nigeria, which has a population of 180 million and gross domestic product (GDP) that is nine times bigger. According to Exotix Partners LLP, Kenya’s largest banks -from KCB Group and Equity Group Holdings Ltd. to the local units of Standard Bank Group Ltd., Barclays Plc and Standard Chartered Plcwill benefit from a consolidation, as customers move cash from smaller, mostly familyowned lenders, which don’t trade their shares publicly. The firm pointed out that

the smaller banks would be starved of liquidity, as 80 per cent of the system’s cash is locked in the seven biggest banks. In fact, a report released last week by Cytonn Investments stated that foreign banks in Kenya were struggling to adapt to African dynamics hence, losing market to the local banks that understand the local market. “Ten years ago, the only banks we knew were Barclays, Standard Chartered... some of these banks you could hardly even open an account with them, now, they are playing catch-up to local banks, which have grown bigger than them,” said Cytonn Investment Head of Private Equity Real Estate,

Shiv Arora. Arora says Kenyan banks have learnt the art of responding to the needs of the local market for convenience and efficiency through alternative banking channels such as mobile, Internet and agency banking, which foreign banks are yet to tap into. “Local banks have embraced low-cost operating models such as agency banking, integration with mobile application platforms and Internet banking that have led to increased uptake of banking services, particularly in the mass market. The use of alternative channels will reduce operating expenses, improve efficiency and will be a key driver for diversification,” Arora said.

L-R: Business Development Manager, Audax Solutions Limited, Mr. Emeka Onyenwe; Head, Branding, Sterling Bank Plc, Mrs. Olapeju Ibekwe; Chairman, Audax Solutions Limited, Mr. Ositadinma Apollos and Project Coordinator, Audax Code School, Vivian Ubochi, at the Code School Boot Camp for kids organised by Audax Solutions Limited in partnership with Sterling Bank Plc in Lagos.

Nigeria’s rice import dips by N86.8bn

Nigeria’s fiscal woes worsen as buyers shun $4.9bn oil

ing price of oil has slashed revenues, prompting the Central Bank of Nigeria (CBN) to peg the currency and introduce curbs to protect foreign exchange reserves, which had fallen to 11-year lows at $27.50billion as at Tuesday, 12th April, 2016. Consequently, Thai rice exporters have refused to sell on credit to some traditional customers in Nigeria – fearing a default in payments. Nigeria had stopped official importation of rice from India since 2014 due to the government policy, which encourages local patronage. India was the biggest supplier of par-boiled rice to Nigeria with shipments exceeding one million tons. As at 2015, the Nigeria’s domestic consumption was 5,850,000 metric tons. The USDA data also revealed that Nigeria consumed 17, 550,000 metric tons between 2013 and 2015.

CONTINUED FROM PAGE 25

It was learnt that some rice exporters had been experiencing liquidity problem and have folded up their business because of the rice export slump, especially the markets in China, Nigeria and some other African countries. According to the Honorary President of Thai Rice Exporters Association, Mr Chukiat Opaswongse, Thai exporters had been reluctant to take orders from some customers in Nigeria because oil price slumped, which had sapped the value of naira. The president added that some rice exporters had cut costs by trimming staff, lowering rice in storage and cutting expenditure in order to remain afloat. Compounding the problem is the recent ban of rice importation through the land border by the Nigeria Customs Service (NCS). Its Comptroller-General, Col. Hameed Ali’s (rtd) ex-

cuse was that the dwindling revenue from rice imports through the land borders had not matched the volume of rice landed in neighbouring ports. He lamented the upsurge in the tempo of rice smuggling. The International Grain Council (IGC), in its reports, had already revealed that over half of imports in 2015 entered from neighbouring Benin where the duty on rice is only 12 per cent. He noted that the revenue started dwindling from January 2016, with importers blaming access to forex as major impediments. Ali noted: “During the five-month period, when the importation was allowed, October 2015-March 17th 2016, a total of 24,992 metric tons of rice valued at N 2, 335,131,093 was imported through the land borders. During the period, total revenue generated amounted to N1, 685,112,810.”

Angolan cargoes sold fairly speedily for May. However, traders said cargoes for June delivery were set to clear much more slowly than those for May due to a backlog of cargoes outside Chinese ports. The Organisation of Petroleum Exporting Countries (OPEC) has also cut its forecast for global oil demand growth in 2016 and warned of further reductions, citing concern about Latin America and China, pointing to a larger supply surplus this year. Nigeria exported 51.987 million barrels of crude to the OPEC-controlled market last month (March). The OPEC, which gave this figure in a report based on its quota to member-countries, said Nigeria produced 1.677 million bpd in March, down from 1.744 million barrels in February, a slide of 67,000 barrels per day (bpd).

BUSINESS | Movers, Shakers and Appointments

MONDAY APRIL 18, 2016 NEW TELEGRAPH

varsity Oni joins FirstBank Board, Odubola retires UK recognises BPE staff F T irst Bank of Nigeria Limited has announced the appointment of Dr. Remi Oni to its Board of Directors as Executive Director, Corporate Banking, effective April 15, 2016. In a statement, the lender also announced the retirement of Mr. Abiodun Odubola from its Board as Executive Director/CRO, effective June 30, 2016. Odubola’s retirement is to enable him pursue his personal interests, the bank explained. Until this appointment, Dr. Remi Oni was Executive Director, Corporate & Institutional Banking, Nigeria and West Africa at Standard Chartered Bank. He also had concurrent primary responsibilities for the International Corporates Client Segment business for Standard Chartered Bank in West Africa. Prior to his appointment as Executive Director in Nigeria and West Africa, Remi held a variety of senior management roles including Executive Director/Head of Origination & Client Coverage at Standard Chartered Bank in Uganda and concurrently Regional Head, Network Clients business for SCB in Africa and Head of Local Corporates in SCB Nigeria. A seasoned banker with over 24 years’ experience in Corporate Banking, Corporate Finance, Commercial Banking and Retail Banking, Remi according to the statement, brings to bear on the Board of FirstBank practical skills set in the areas of deals origination and structuring, relationship management, business management

and strategy. He holds an MBA in Finance from the University of Ilorin, a Doctor of Veterinary Medicine (DVM), as well as Master of Science in Public Health and Preventive Medicine from Ahmadu Bello University, Zaria. He is an honorary member of the Chartered Institute of Bankers of Nigeria (CIBN), a member of the Equipment Leasing Association of Nigeria (ELAN) and the Nigerian Veterinary Medical Association (NVMA). Odubola joined the Board of FirstBank in 2014, after being appointed Chief Risk Officer in 2013. According to the statement he had previously been Head, Credit Analysis and Processing Department in FirstBank and Chief Risk Officer at Ecobank Nigeria Plc. Mr. Odubola started his banking career with Citibank over 20 years ago and garnered diverse experience covering relationship management, credit underwriting, credit risk management, country risk management and credit audit within and outside of Nigeria. He brought his varied experience to bear in performing his functions in FirstBank. Commenting on these developments, Managing Director/CEO, First Bank of Nigeria Limited and its Subsidiaries, Dr. Adesola Adeduntan (FCA), thanked Mr. Odubola for his contributions to the development of FirstBank over the years and wished him the best in his future activities. In welcoming Dr. Oni to the Board of FirstBank he said, “Remi’s cog-

nate experience is a perfect fit for our Bank’s expanded corporate banking directorate. I believe he will deliver to our desire to remain at the vanguard of innovation, creativity, enterprise, and service excellence.”

Energy firm gets new directors

antos Energy has announced the appointment of Peter Hearl and Guy Cowan to the board of the company as independent non-executive directors. The appointment according to a statement from the oil firm was announced shortly after its 2016 Annual General Meeting (AGM). The Chairman of the company, Mr. Peter Coates, said that the appointments were part of the Santos Board’s ongoing renewal process. He said that Mr Hearl and Mr Cowan would also be appointed to the Audit and Risk Committee. Hearl according to the statement, had over 30 years’ experience in operating and development roles, including 18 years in the oil and gas industry with Exxon where he started his career with Esso Australia. Hearl is a director of Telstra Corporation Limited, where he is a member of the Nominations Committee and the Remuneration Committee.

he Nottingham Trent University, United Kingdom has featured a staff of the Bureau of Public Enterprises (BPE), Mr. Abdulmalik Ahmad Badamasuiy as its Alumni Profile for the month of March 2016. A statement from the BPE’s Head, Public Communications Unit, Alex E. Okoh, said Badamasuiy, an alumnus of the university, where he obtained his Masters of Law (LLM) in 2011 and currently pursuing his doctorate degree, was awarded this revered feature after a very intense competition of track records of both academic and career accomplishments of several alumni of the university. Badamasuiy, who was the best student of the Faculty of Law at the Bayero University, Kano in 1991, where he obtained his Bachelors of Law degree before being called to the Nigerian Bar in 1993, joined the Bureau in December 2000. He has served in several capacities within the organisation. According to the statement, he was in 2001 commended by BPE for his distinctive performance on several transactions of the Bureau. From August 2014 to May 2015, he served as the special assistant on diplomacy and Bilateral Cooperation to the then Minister of National Planning Commission.

Guinea appoints Achebe as non-Executive Director

Uwaoma

Ogiemwanye

Dairo

Telecoms firm appoints three directors

ne of Nigeria’s telecoms company, Etisalat Nigeria, has appointed new directors. The directors according to a statement, are Adeolu Dairo - Director Consumer Segment, Elvis Ogiemwanye - Director, Brand & Experience and Eric Uwaoma - Director Enterprise Segment. The company said that the appointments followed a rigorous selection process by focusing on the best talents within the organisation in order to support the company in the delivery of innovative products and services to meet the demands of its customers. Dairo was previously Head, Customer Value Management (CVM) where he was responsible for organisational capability in marketing and customer analytics. In his new role as director, Consumer Segment, the company said that Dairo would lead his team in articulating and

implementing the key pillars of Etisalat’s marketing strategy in the high value, mass market and youth segments. Ogiemwanye was previously Head, Youth Segment where he successfully worked with his team to build Etisalat’s youth brand (EasyCliq) as well as develop the teen segment (Cliqlite). The company noted that the director of brand & experience, would assume overall responsibility for execution of strategies that enhance the Etisalat brand value and equity as well as customers’ experience across all touch-points. Uwaoma according to the statement, was previously Head, Enterprise Sales, where he played a pioneering role in setting up Etisalat’s enterprise team, from recruiting experienced sales executives, to developing processes and growing the company’s share of the business market. In his new role as director, Enterprise

Segment, Eric will be responsible for leading the entire Enterprise function – including sales, marketing, and aftersales support – to continuously improve Etisalat’s share and profitability among all business customers across the country. Commenting on the new appointments, Chief Marketing Officer of the company, Mr. Francesco Angelone, said, “Over the years, Adeolu, Elvis and Eric have played pivotal roles in driving many of our positive customer and market results. “These appointments reflect the fact that, as an organisation, Etisalat remains committed to growing its people through careers that meaningfully build on experiences – including workrelated challenges, opportunities, and achievements – to prepare talented employees for more responsibility even as the business evolves.”

ollowing recent management changes, the Board of Guinea Insurance has approved the appointment of Mr. Anthony Achebe as a non-Executive Director of the company. Achebe is a seasoned legal practitioner with substantial years of experience in active legal practice. He obtained an LL.B (Hons) degree from the University of Nigeria in June 1986 and thereafter proceeded to the Nigerian Law School where he was awarded a B.L (Certificate of Call to the Nigerian Bar). Achebe, who has over 28 years post call experience, has served in the public and the organised private sector where he distinguished himself in the fields of advocacy, company secretarial administration, corporate and commercial legal practice, the financial services industry, electricity power regulation and labour relations. Achebe is happily married.

Achebe

BUSINESS |Stock Watch

The macro-economic conditions in the country have slashed the earnings of many oil firms including Total Oil Nigeria, CHRIS UGWU writes

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Total Oil: Earnings hurt by exchange rate, others Total Nigeria Plc. 2015

he harsh operating environment and the nation’s economic woes have continued to take their toll on corporate earnings of most companies listed on the floor of the Nigerian Stock Exchange (NSE). Despite expectations that the trend would be reversed with the arrival of the earnings season, the emergence of fourth quarter 2015 and first-quarter 2016 earnings reports, which turned to be disappointing, have generally contributed to the volatile environment. This is owing to the fact that most companies operating in the country were faced with difficult operating environment due to the slowdown in economic growth across Africa, as a result of lower commodity prices. These developments have affected both households and businesses. Low oil prices remain a drag on energy companies, whereas the stronger United States dollar is taking its toll on the multinational companies in the country. Adding to the headwinds is increasing labour costs and sluggish economic growth. Oil and Gas is one of the sectors that are receiving the hard knocks from the volatile environment. Operating environment for this sector of the economy, like other segments, has remained very challenging with enormous economic and security issues. The effect of rapid devaluation of the naira has wiped out billions of naira in market capitalisation of Nigeria’s fledgling oil and gas companies. Challenges of insecurity and other high costs of operations attributable to poor infrastructure have also continued to make the operating environment difficult, especially the oil and gas sector of the economy. The industry has also continued to experience sustained pressure on its cash flows due to delay in payments of subsidies resulting in huge financial expenses. However, while it was accepted generally that the overall economic and business climate was a mixed bag due to mounting economic challenges, Total Oil Nigeria Plc was not insulated. Though, its share price movements have remained fairly firm, sustaining number two among the Petroleum and Petroleum Products Distributors firms quoted on the Exchange. It, however, still remained susceptible to the challenges facing the oil and gas business in Nigeria. Total has continued to get its fair share from the mixed fortune, as the company remained in limbo following inability to show good figures from the full 2014 financial results. Total reported continued de-

Nguer

cline in its bottom line primarily due to the ongoing weaker global commodity demand and pricing environment coupled with the rising refining expenditures. Market watchers forecast that the company’s profit was likely to decline further in its yet-tobe released full year results following disappointing quarterly reports, as sales for petroleum marketers in the country have been hampered by reduced import volumes. According to analysts, the current results reflected Total’s natural vulnerability to volume slowdown due to hash enabling environment. The share price, which closed at N174.00 per share in May 31, 2015, has recorded a dip in growth. At the close of business last Friday, the company’s share price stood at N159.00, a decrease of N15.00 or 8.62 per cent year to date. Financials Total Nigeria’s result had, during the financial year ended 31st December 2014, showed a drop in key profitability indices with revenue flat at N240.618 billion as against N238.163 billion posted the previous year. Profit after tax in the year under review stood at N4.42 billion in comparison to N5.3 billion the company achieved last year, accounting for a drop of 17 per cent. Total began the 2015 financial

We anticipate that the persistent nationwide fuel shortages could materially hurt earnings in 2016

May 31

N174.00

June 30

N165.00

July 31

N163.00

August 31

N151.99

September 30

N150.00

October 30

N150.01

November 31

N145.07

December 31

N147.01

January 29

N150.00

February 29

N145.00

March 24

N153.82

April 8

N159.00

year with bad numbers, as it reported 79 per cent drop in net earnings for the first quarter ended March 31, 2015. The oil company’s profit after tax fell to N223.219 million from N1.069 billion in the same period of last year, indicating a loss of 79 per cent. Revenue also was flat at N60.042 billion, compared with N60.595 billion last year, a drop of one per cent. The company also posted 10 per cent dip in profit before tax for the half year ended June 2015. In a filing with the Exchange, the company’s pre-tax profit fell from N2.178 billion during the comparable period of 2014 to N1.967 billion, accounting for a drop of 10 per cent. Gross earnings of the fuel marketer also fell to N111.974 billion from N120.157 billion in the previous year. Total’s fortune continued to dwindle in third quarter of the year, as the company posted 19 per cent decrease in profit after tax to N2.132 billion in the recently released Q3 2015 from N2.648 billion in 2014. The oil firm’s profit before tax dropped five per cent from N4.204 billion during the period under review to N4.009 billion in 2014. The company’s revenue equally shed 10 per cent to N159.299 billion from N177.807 billion during the comparable period of 2014. Total Nigeria’s full year 2015 profit after tax fell 24 per cent to N4.047 billion from N5.290 billion recorded a year earlier. The company’s pre-tax profit also dropped by five per cent from 6.832 billion the previous year to N6.495 billion during the period under review. The company’s revenue equally shed 6.22 per cent from N240.027 billion in 2014 to N208.027 billion during the financial year 2015. Total declared a final dividend of N12.00. This implies a total dividend of N14.00, as it earlier paid an interim of N2.00. Profit deflators Chairman, Total Nigeria Plc and President Marketing and Services, Mr. Momar Nguer, had, at company’s 36th Annual

General Meeting (AGM) held in Lagos, said the marketing margin, which is generating the cash flow, has not been reviewed since seven years, while the cost of doing business has increased substantially. “Imagine that your salary has remained the same for seven years when cumulative inflation has been 70 per cent over the period. How would you manage? That’s what is happening to our industry. To my knowledge, there is no other country that has frozen margin for such a long time. This is not sustainable and the margin should be reviewed to really cater for the cost of doing business in the Nigeria environment. “Not only are we suffering from frozen margin but we are also suffering from huge financial expenses, as a result of delay in payment of subsidies. On average, it takes eight months for the government to pay us back the subsidies. In our balance sheet at the end of 2013, we were owed N12 billion. The financial expenses of that debt represent 10 per cent of our net operating income,” he said. Analysts’ opinion According to analysts at FBN Quest, on a full-year basis, Total Nigeria sales, PBT and PAT all declined by -14 per cent y/y, -5 per cent y/y and -24 per cent y/y respectively. “Compared with our forecasts, while Q4 sales were broadly in line, PBT and PAT beat significantly. Relatively lower opex and net finance charges were key drivers behind the variance. Full year PBT of N6.5 billion came in well ahead of consensus forecast of N4.6 billion. “Even though full year PBT declined y/y, we believe Total’s strong dividend is likely to attract investor’s attention in the near term. However, we anticipate that the persistent nationwide fuel shortages could materially hurt earnings in 2016 and would be a concern to investors. “As such, we expect moderate downward revisions to consensus estimates for 2016E. At current levels, on our published estimates, Total shares are trading on a 2016E P/E multiple of 21.3x for an EPS growth of 10 per cent in 2017E. Year to date, Total shares have gained 4.6 per cent, outperforming the NSE ASI by 15.6 per cent. We rate the stock Neutral,” they said. Conclusion The continuing deterioration in Nigeria’s macro-economic conditions has resulted in drop in the earnings of many firms including Total Oil Nigeria. With the weaker global commodity demand and pricing decline, many forecast that the economy may take more time to settle unless the government fast-tracks peoples’-oriented programmes to lift the economy from the state of despondency.

BUSINESS | Capital Market

MONDAY APRIL 18, 2016 NEW TELEGRAPH

DAILY STOCK MARKET REPORT The Nigerian Stock Market Exchange as at April 15, 2016

Prices for Securities Traded as of 15/04/2016

Printed 15/04/2016 14:32:58.058

PRICES FOR PREMIUM BOARD SECURITIES

Price List (Equities)

FINANCIAL SERVICES S/N 1

BANKING ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

S/N

BUILDING MATERIALS

359,489.85

11.45

2.23

239

16,895,688

124

ASHAKA CEM PLC

239

16,895,688

125

BERGER PAINTS PLC

TRADES

VOLUME

126

CAP PLC

BANKING S/N

OTHER FINANCIAL INSTITUTIONS

MARKET CAP(Nm)

PRICE

%CHANGE

119,531.32

3.33

-1.19

193

7,582,714

127

CEMENT CO. OF NORTH.NIG. PLC

OTHER FINANCIAL INSTITUTIONS

193

7,582,714

131

LAFARGE AFRICA PLC.

FINANCIAL SERVICES

432

24,478,402

133

PORTLAND PAINTS & PRODUCTS NIGERIA PLC

TRADES

VOLUME

FBN HOLDINGS PLC

BUILDING MATERIALS DANGOTE CEMENT PLC

MARKET CAP(Nm)

PRICE

%CHANGE

2,743,010.48

160.97

0.45

2,395,919

BUILDING MATERIALS

2,395,919

INDUSTRIAL GOODS

2,395,919

511

26,874,321

PREMIUM BOARD TOTALS PRICES FOR MAIN BOARD SECURITIES

Price List (Equities)

CROP PRODUCTION

S/N

ELECTRONIC AND ELECTRICAL PRODUCTS

PACKAGING/CONTAINERS GREIF NIGERIA PLC

S/N MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

TOOLS AND MACHINERY

308,500

21,417

329,917

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

S/N

METALS

TRADES

VOLUME

143

ALUMINIUM EXTRUSION IND. PLC.

CROP PRODUCTION FISHING/HUNTING/TRAPPING MARKET CAP(Nm)

PRICE

%CHANGE

1,920.00

0.96

4.35

S/N

CHEMICALS

1,133,666 1,133,666

1,463,583

MINING SERVICES

TRADES

VOLUME

PAPER/FOREST PRODUCTS

MARKET CAP(Nm) 2,011.94

PRICE

%CHANGE

A.G. LEVENTIS NIGERIA PLC.

0.76

-5.00

57,993

TRANSNATIONAL CORPORATION OF NIGERIA PLC

40,657.05

1.00

-0.99

6,027,000

U A C N PLC.

37,264.77

19.40

5.26

1,074,491

DIVERSIFIED INDUSTRIES

109

7,159,484

CONGLOMERATES

109

7,159,484

CONSTRUCTION/REAL ESTATE MARKET CAP(Nm)

PRICE

%CHANGE

BUILDING CONSTRUCTION

G CAPPA PLC INFRASTRUCTURE/HEAVY CONSTRUCTION

JULIUS BERGER NIG. PLC. REAL ESTATE DEVELOPMENT

UACN PROPERTY DEVELOPMENT CO. LIMITED REAL ESTATE INVESTMENT TRUSTS (REITS)

UPDC REAL ESTATE INVESTMENT TRUST

PRICE

%CHANGE

TRADES

VOLUME

0.50

1,807.50

14.46

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

56,760.00

43.00

2,125

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

6,875.00

4.00

0.25

289,606

REAL ESTATE DEVELOPMENT S/N

VOLUME

0 542.19

INFRASTRUCTURE/HEAVY CONSTRUCTION S/N

TRADES

MARKET CAP(Nm)

BUILDING STRUCTURE/COMPLETION/OTHER S/N

CHAMPION BREW. PLC.

GUINNESS NIG PLC

INTERNATIONAL BREWERIES PLC.

NIGERIAN BREW. PLC. BEVERAGES--NON-ALCOHOLIC

7-UP BOTTLING COMP. PLC.

24,271.44

3.10

2,675

150,438.23

99.90

35,689

65,884.99

20.00

250

840,484.69

106.00

-1.37

714,427

106

753,041

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

94,166.78

147.00

1,133

TRADES

VOLUME

804,689

FLOUR MILLS NIG. PLC.

50,805.23

19.36

-3.20

HONEYWELL FLOUR MILL PLC

10,785.07

1.36

-2.16

554,500

NASCON ALLIED INDUSTRIES PLC

19,605.84

7.40

-0.13

8,600,429

TIGER BRANDED CONSUMER GOODS PLC

11,500.00

2.30

-3.77

890,770

UNION DICON SALT PLC.

3,075.06

11.25

17,649

152

11,300,930

TRADES

VOLUME

FOOD PRODUCTS PRICE

%CHANGE

27,741.04

14.77

8,190

507,307.93

640.01

-0.77

110

180,523

118

188,713

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,326.78

5.42

5,112

FOOD PRODUCTS--DIVERSIFIED

HOUSEHOLD DURABLES PERSONAL/HOUSEHOLD PRODUCTS

P Z CUSSONS NIGERIA PLC.

UNILEVER NIGERIA PLC.

432,893

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

84,253.52

21.22

-9.70

210,110

110,661.42

29.25

38,343

248,453

PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS S/N

BANKING

ACCESS BANK PLC.

DIAMOND BANK PLC

ECOBANK TRANSNATIONAL INCORPORATED

FIDELITY BANK PLC

GUARANTY TRUST BANK PLC.

SKYE BANK PLC

STERLING BANK PLC.

UNION BANK NIG.PLC.

UNITED BANK FOR AFRICA PLC

59 60

156

SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

S/N

ADVERTISING

S/N

APPAREL RETAILERS

S/N

AUTOMOBILE/AUTO PART RETAILERS

S/N

COURIER/FREIGHT/DELIVERY

160

RED STAR EXPRESS PLC

161

TRANS-NATIONWIDE EXPRESS PLC.

S/N

HOSPITALITY

162

TANTALIZERS PLC

VOLUME

101

1,664,889

101

1,664,889

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

12,595.23

18.15

-9.70

124,212

2,112.71

1.62

4.52

343,595

362,832.16

278.57

-5.00

201,019

151.25

1.37

669,509

MARKET CAP(Nm)

PRICE

%CHANGE

187,148.11

332.15

7.04

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,240.09

3.80

10,500

196.83

0.99

1 4

13,500

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

0 0

34,885.85

4.59

TRADES

VOLUME

166

TRANSCORP HOTELS PLC

HOTELS/LODGING S/N

MEDIA/ENTERTAINMENT

167

DAAR COMMUNICATIONS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

6,000.00

0.50

0 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

168

ACADEMY PRESS PLC.

405.22

0.67

14,541

169

LEARN AFRICA PLC

555.44

0.72

4.35

55,400

170

STUDIO PRESS (NIG) PLC.

1,302.80

2.19

171

UNIVERSITY PRESS PLC.

2,459.03

5.70

25,900

95,841

TRADES

VOLUME

PRINTING/PUBLISHING S/N

ROAD TRANSPORTATION

172

ASSOCIATED BUS COMPANY PLC

MARKET CAP(Nm)

PRICE

%CHANGE

828.85

0.50

S/N

SPECIALTY

174

SECURE ELECTRONIC TECHNOLOGY PLC

MARKET CAP(Nm)

PRICE

3,170,429

178

CAVERTON OFFSHORE SUPPORT GRP PLC

4,641,053

80,783.80

4.77

4.61

884,541

117,545.67

3.24

-0.31

111

250,469,876

UNITY BANK PLC

8,182.54

0.70

2.94

WEMA BANK PLC.

27,002.13

0.70

-1.41

%CHANGE

TRADES

VOLUME

2,239,028

7,904

3,000.00

0.50

200

10,476.47

1.01

1.00

3,941,000

642.04

0.50

200

2,096.77

0.61

-4.69

5,000,000

4,065.99

0.77

1.32

26,753,457

3,869.74

0.50

29,040

0.50

200

CONSOLIDATED HALLMARK INSURANCE PLC

CONTINENTAL REINSURANCE PLC

INTERNATIONAL ENERGY INSURANCE COMPANY PLC

LAW UNION AND ROCK INS. PLC.

N.E.M INSURANCE CO (NIG) PLC.

NIGER INSURANCE CO. PLC.

UNITY KAPITAL ASSURANCE PLC

6,933.33 6,691.37

0.50

936,800

38,907,829

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,652.50

1.16

-0.86

660,200

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

4,179.69

4.28

625

INSURANCE CARRIERS, BROKERS AND SERVICES

MICRO-FINANCE BANKS

MORTGAGE CARRIERS, BROKERS AND SERVICES S/N

OTHER FINANCIAL INSTITUTIONS

PRICE

%CHANGE

TRADES

VOLUME

AFRICA PRUDENTIAL REGISTRARS PLC

4,880.00

2.44

1.24

929,585

CUSTODIAN AND ALLIED PLC

MARKET CAP(Nm) 22,939.27

3.90

32,830

FCMB GROUP PLC.

18,218.49

0.92

2.22

1,765,203

102

STANBIC IBTC HOLDINGS PLC

136,500.00

13.65

5.00

1,582,023

103

UNITED CAPITAL PLC

9,000.00

1.50

-0.67

OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES

4,090,026

169

8,399,667

1,038

382,897,528

TRADES

VOLUME

TRADES

VOLUME

HEALTHCARE MARKET CAP(Nm)

PRICE

%CHANGE

HEALTHCARE PROVIDERS MARKET CAP(Nm)

PRICE

%CHANGE

MEDICAL SUPPLIES MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

3,150.00

2.10

5.00

457,859

29,861.04

24.97

15,461 117,886

TRADES

VOLUME

2,815.77

0.50

1 1

200

PRICE

%CHANGE

TRADES

VOLUME

1,268.00

2.00

25,000

200

6,480.63

3.99

2.57

24 28

656,671

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

941.41

0.50

70,000

5,528.34

1.65

SUPPORT AND LOGISTICS SERVICES MAIN BOARD TOTALS PRICES FOR ASEM SECURITIES

MARKET CAP(Nm)

TRANSPORT-RELATED SERVICES

1,017,586

ROAD TRANSPORTATION

4.70

PRINTING/PUBLISHING

2.11

2.86

S/N

MEDIA/ENTERTAINMENT

0.97

%CHANGE

3,000

1.56

2.04

VOLUME

NIGERIAN AVIATION HANDLING COMPANY PLC

0.72

VOLUME

176

PRICE

38,568 3,465,979

4.84

4,989.75

38,568

10 235

AIRLINE SERVICES AND LOGISTICS PLC

21,420.00

VOLUME

3.51

175

MARKET CAP(Nm)

TRADES

2.13

3,077,806

AXAMANSARD INSURANCE PLC

34,130 1,762,522

3.87

INSURANCE CARRIERS, BROKERS AND SERVICES

390,057

23 124

7,885.00

-2.64

AIICO INSURANCE PLC.

4,427.84

13,463.89

PHARMA-DEKO PLC.

TRADES

-0.87

5,993.78

44,913.05

NEIMETH INTERNATIONAL PHARMACEUTICALS PLC

%CHANGE

4.56

TOURIST COMPANY OF NIGERIA PLC.

165

C & I LEASING PLC.

MAY & BAKER NIGERIA PLC.

PRICE

54,877.86

IKEJA HOTEL PLC

164

177

113

MARKET CAP(Nm)

CAPITAL HOTEL PLC

163

42,755,841

111

VOLUME

196

110

TRADES

VOLUME

1.12

GLAXO SMITHKLINE CONSUMER NIG. PLC.

%CHANGE

15.37

FIDSON HEALTHCARE PLC

29,800

PRICE

452,357.22

PHARMACEUTICALS

2 MARKET CAP(Nm)

TRADES

3.69

2,031,566

29,700

106,744.22

334,929,207

VOLUME

%CHANGE

TRANSPORT-RELATED SERVICES

TRADES

0.50

SUPPORT AND LOGISTICS

S/N

%CHANGE

PRICE

S/N

109

PRICE

1,605.81

HOTELS/LODGING

308,021

108

VOLUME

MARKET CAP(Nm)

S/N

22,055,984

MEDICAL SUPPLIES

TRADES

HOSPITALITY

HEALTHCARE PROVIDERS

%CHANGE

COURIER/FREIGHT/DELIVERY

131

UNION HOMES SAVINGS AND LOANS PLC.

100

PRICE

AUTOMOBILE/AUTO PART RETAILERS

MORTGAGE CARRIERS, BROKERS AND SERVICES

1 MARKET CAP(Nm)

APPAREL RETAILERS

2.19

100

ADVERTISING

1.40

S/N

MARKET CAP(Nm)

VOLUME

SERVICES

S/N

EXPLORATION AND PRODUCTION

1.30

NPF MICROFINANCE BANK PLC

SPECIALTY

S/N

13.87

9.84

-0.62

40,564.72

WAPIC INSURANCE PLC

2,164.37

-4.98

30,108.51

MICRO-FINANCE BANKS

0 VOLUME

44.83

VOLUME

S/N

159.00

254,508.28

S/N

TRADES TRADES

53,983.97

12,497,382

1,321,751

%CHANGE

11,386.31

433

753

168

%CHANGE

TOTAL NIGERIA PLC.

TRADES

BANKING

PRICE

MRS OIL NIGERIA PLC.

%CHANGE

4,516,504

VOLUME

PRICE

155

PRICE

180

TRADES

MARKET CAP(Nm)

154

MARKET CAP(Nm)

FINANCIAL SERVICES

180

MARKET CAP(Nm)

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS

VOLUME

%CHANGE

54,540.03

TRADES

PRICE

MOBIL OIL NIG PLC.

%CHANGE

-0.19

S/N

153

VOLUME

MARKET CAP(Nm)

TRADES

FORTE OIL PLC.

0 MARKET CAP(Nm)

%CHANGE

9.23

152

TRADES

PRICE

VOLUME

PRICE

MARKET CAP(Nm)

0 245,020 245,020

393.57

ETERNA PLC.

291,766

MARKET CAP(Nm)

0 12 12

MARKET CAP(Nm)

151

%CHANGE

VITAFOAM NIG PLC.

VOLUME

150

EXPLORATION AND PRODUCTION

5.25

HOUSEHOLD DURABLES

TRADES

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS CONOIL PLC

OIL AND GAS

PRICE

S/N

63,000.00

S/N

%CHANGE

INTEGRATED OIL AND GAS SERVICES

MARKET CAP(Nm)

NESTLE NIGERIA PLC.

OANDO PLC

VOLUME

DANGOTE SUGAR REFINERY PLC

FOOD PRODUCTS--DIVERSIFIED

INTEGRATED OIL AND GAS SERVICES

FOOD PRODUCTS

CADBURY NIGERIA PLC.

S/N 148

1,076,551

PRICE

ENERGY EQUIPMENT AND SERVICES

TRADES

S/N

ENERGY EQUIPMENT AND SERVICES

BEVERAGES--NON-ALCOHOLIC

S/N

%CHANGE

BEVERAGES--BREWERS/DISTILLERS S/N

3,000

155 MARKET CAP(Nm)

NATURAL RESOURCES

10.00

CONSUMER GOODS

BEVERAGES--BREWERS/DISTILLERS

OIL AND GAS

PRICE

AUTOMOBILES/AUTO PARTS S/N

PAPER/FOREST PRODUCTS

26,682.70

CONSTRUCTION/REAL ESTATE AUTOMOBILES/AUTO PARTS

MINING SERVICES

MARKET CAP(Nm)

REAL ESTATE INVESTMENT TRUSTS (REITS)

S/N

S/N S/N

CONGLOMERATES

METALS

20 20

BUILDING STRUCTURE/COMPLETION/OTHER

2.88

CHEMICALS

LIVESTOCK/ANIMAL SPECIALTIES

COSTAIN (W A) PLC.

1,152.00

NATURAL RESOURCES

AGRICULTURE

83,902 786,647

INDUSTRIAL GOODS

S/N

12 118

TOOLS AND MACHINERY

BUILDING CONSTRUCTION

-2.63

S/N

47,920

7.03 74.00

3.60

139

VOLUME

8,834.44

2.09

-3.24

S/N

TRADES

337,062.73

1.44

35.01

DIVERSIFIED INDUSTRIES

2,256.91

32.00

S/N

1,268.15

35,010.00

LIVESTOCK FEEDS PLC.

38.50

AUSTIN LAZ & COMPANY PLC

30,525.12

128,145

26,950.00

CUTIX PLC.

PRESCO PLC

LIVESTOCK/ANIMAL SPECIALTIES

26,937

136

OKOMU OIL PALM PLC.

S/N

135

FISHING/HUNTING/TRAPPING

8.52

ELECTRONIC AND ELECTRICAL PRODUCTS

S/N

%CHANGE

19.56

2,469.30

PACKAGING/CONTAINERS

AGRICULTURE S/N

PRICE

43,803.70

BUILDING MATERIALS

INDUSTRIAL GOODS S/N

MARKET CAP(Nm)

631,671

12,121

82,121

848,333

2,133

410,766,874

Price List (Equities)

CONSTRUCTION/REAL ESTATE TRADES

VOLUME

PROPERTY MANAGEMENT

CONSTRUCTION/REAL ESTATE

TRADES

VOLUME

S/N

PROPERTY MANAGEMENT

MARKET CAP(Nm)

PRICE

%CHANGE

CONSUMER GOODS S/N 180

FOOD PRODUCTS MCNICHOLS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

380.16

1.28

2 2

6,000

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

FOOD PRODUCTS S/N

PERSONAL/HOUSEHOLD PRODUCTS

6,000

PERSONAL/HOUSEHOLD PRODUCTS

CONSUMER GOODS

6,000

TRADES

VOLUME

FINANCIAL SERVICES S/N

MORTGAGE CARRIERS, BROKERS AND SERVICES

MARKET CAP(Nm)

PRICE

%CHANGE

MORTGAGE CARRIERS, BROKERS AND SERVICES

FINANCIAL SERVICES

TRADES

VOLUME

HEALTHCARE S/N

PHARMACEUTICALS

MARKET CAP(Nm)

PRICE

%CHANGE

PHARMACEUTICALS

HEALTHCARE

0 VOLUME

INDUSTRIAL GOODS S/N

ELECTRONIC AND ELECTRICAL PRODUCTS

184

ADSWITCH PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

203.76

1.63

ELECTRONIC AND ELECTRICAL PRODUCTS

INDUSTRIAL GOODS

TRADES

VOLUME

OIL AND GAS S/N

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS

MARKET CAP(Nm)

200,000

OIL AND GAS

200,000

TRADES

VOLUME

CAPITAL OIL PLC

0.50

%CHANGE

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS

186

2,928.77

PRICE

SERVICES S/N

FOOD/DRUG RETAILERS AND WHOLESALERS

MARKET CAP(Nm)

PRICE

%CHANGE

FOOD/DRUG RETAILERS AND WHOLESALERS

SERVICES

ASEM TOTALS

206,000

2,647

437,847,195

TRADES

VOLUME

EQUITIES TOTALS

882.00

0.90

-2.17

1,035.90

0.66

444.48

2.05

PHARMACEUTICALS

603,868

HEALTHCARE

603,868

S/N

PRICE

%CHANGE

LOTUS HALAL EQUITY ETF

497.24

8.02

-0.62

TRADES

VOLUME

NEWGOLD EXCHANGE TRADED FUND (ETF)

353.55

2,357.00

-0.55

STANBIC IBTC ETF 30

824.18

72.00

TRADES

VOLUME

VETIVA BANKING ETF

79.71

2.18

1.40

VETIVA CONSUMER GOODS ETF

68.65

5.91

-1.17

TRADES

VOLUME

VETIVA GRIFFIN 30 ETF

1,687.49

11.22

-0.36

VETIVA INDUSTRIAL ETF

82.33

18.79

-0.74

125

12,652

ICT S/N

COMPUTER BASED SYSTEMS

MARKET CAP(Nm)

PRICE

%CHANGE

COMPUTER BASED SYSTEMS S/N

COMPUTERS AND PERIPHERALS

MARKET CAP(Nm)

PRICE

%CHANGE

COMPUTERS AND PERIPHERALS S/N

ELECTRONIC COMMUNICATIONS SERVICES

MARKET CAP(Nm)

PRICE

%CHANGE

ELECTRONIC COMMUNICATIONS SERVICES S/N

IT SERVICES

118

NCR (NIGERIA) PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,130.76

10.47

100

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,348.03

0.50

17,136.00

4.08

-4.90

IT SERVICES S/N

PROCESSING SYSTEMS

120

CHAMS PLC

121

E-TRANZACT INTERNATIONAL PLC

PROCESSING SYSTEMS S/N

TELECOMMUNICATIONS SERVICES

TELECOMMUNICATIONS SERVICES ICT INDUSTRIAL GOODS

MARKET CAP(Nm)

PRICE

%CHANGE

100

187,200

187,300

TRADES

VOLUME

187,400

PRICES FOR ETP SECURITIES COMPANY

Price List (ETP) MARKET CAP(Nm)

ETP TOTALS

PRICES FOR DEBT SECURITIES

Price List (BONDS) PRICE

%CHANGE

TRADES

VOLUME

12.50% FGN JAN 2026

155,168.23

99.57

-0.43

20,000

15.10% FGN APR 2017

504,139.74

105.00

0.38

15.54% FGN FEB 2020

620,142.11

111.35

0.14

100

20,200

S/N

COMPANY

BONDS TOTALS

MARKET CAP(Nm)

100

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

Insurance Exploring brownfield option in pension fund investment PLAN The pension funds, under the Contributory Pension Scheme, is meant to pay pensioners on retirement and not to be diverted Sunday Ojeme

ver since the pension funds under the Contributory Pension Scheme (CPS) began to reflect astronomical growth under careful management, some members of the public especially government officials have taken interest and suggested that it be put into the development of infrastructure. Considering the infrastructural decay in the country, the N5 trillion pension assets that have been erroneously thought to be idle easily comes to mind whenever there is an outcry for funds to rehabilitate same. Investment options As far back as 2011, the former Central Bank of Nigeria Governor, Lamido Sanusi, called on the Federal Government to explore the possibility of putting part of the funds into the nation’s power sector. Only recently, the Minister of Power, Housing and Works, Babatunde Fashola, also tinkered with the possibility of using part of the over N5 trillion funds to rehabilitate infrastructure. Fashola, who said that Nigerian workers still had a lot to benefit from the fast growing pension contributions under the watch of the National Pension Commission, however, declared that pension funds were largely invested in equities and bonds while in the case of Nigeria, so much of it was being held in government bonds. He said: “Across all of Africa, there is a visible infrastructure deficit. No country-to-country rail service across most parts, the highways that connect most of the countries such as in the ECOWAS region are in very poor shape and these are roads that can easily be built, and tolled to earn income to secure the return of pension funds invested in building them”. He drew inference from the pattern of the South African pension fund, saying while that of Nigeria had been held down, that of South Africa had been spread into development of infrastructure. He recalled a publication, which estimated that sub-Saharan Africa’s 10 largest pension fund markets had approximately $310 billion in assets recently. The minster said: “But while these funds are not serving the real sector of roads, bridges, hospitals, rails, airports, fee-paying universities, there is a palpably visible poverty in most of these countries, some of which gathered to seek funding support in South Africa recently at the

Ahonu-Amazu

Chairman, Pension Operators Association of Nigeria, Eguarekhide Longe

instance of the Chinese government, which offered funding support (loans) of $60 billion for all of Africa, when 10 pension funds had $310 billion to invest. “Many of these countries are scurrying after multilateral agencies looking either for aid or loans, while sitting literally on a pot of money”. He pointed out that if Africa was considered poor today, “it is not because of a lack of resources, rather it is likely a poverty of ideas or the abundance of risk-elevating attitudes, some of which I have alluded to, such as judicial and political, and these must change, as I will contend in my conclusions.” S’Africa’s success story According to him, in contrast to the mismanagement that used to be the story of our own pension funds, the most prolific of the pension funds in Africa, which is the South African Public Investment Corporation (PIC) has over $150 billion assets under management. He said: “In Nigeria alone, they have $289 million in Dangote Cement, $98 million approved but yet to be drawn for Notore Fertiliser, $230 million in MTN Nigeria, $270 million in Erin Energy (formerly CAMAC) and $150 million in Mainstream Energy Solutions (in the power sector of Nigeria). “By contrast, the question to ask is what is the ‘home based’ pension fund doing? If, as I have shown, the “visiting” pension fund from South Africa has a total of $897 million in our economy”. As much as noticeable success has been recorded in the case of South African project, the same can, however, not be said as regards Nigeria’s due to obvious reasons. Investment projection According to the National Integrated Infrastructure Master

There has been a lot of noise over N5 trillion. We are immune to it

Plan, required infrastructure spend in Nigeria is estimated at $3 trillion over 30 years ($100 billion annually), while total pension savings is however, $25 billion. Based on current regulation, the maximum possible spend on infrastructure by pension funds is N682 billion ($3.4 billion). While this amount may improve infrastructure within the economy, it is insufficient to fully address the deficit. Besides the Pension Reform Act 2014 recommendation on the investment direction of the fund, the ability to manage such investment without running the funds into crisis is also very significant. Lack of investment options – Bankable projects – transparency; shortage of data as well as high risk-related greenfield investment among others, have been identified as clogs to investment of pension funds especially in infrastructure. Experts’ opinions According to the Head, Investments, Pensions Alliance limited, Mrs Abimbola Sulaiman, infrastructure bonds remain the easiest way to introduce majority of pension funds into infrastructure investments, as it is similar to traditional bond investments. Since pension assets are supposed to be liquid, it is considered much more convenient to put such investment into a Brownfield project rather than invest it in Greenfield project. She said: “In the case of CPS, it is not proper to put 20 per cent in infrastructure unlike the Defined Benefit. The assets are liquid because money is paid out everyday. The money is not for the government. If for instance, if it is put into the Second Niger Bridge and the project fail, what happens? “The way to do infrastructure investment is through funds or

through bonds. We have economic infrastructure and social infrastructure. You can invest in social infrastructure, as it provides social benefits while you also make money from it. Use the money for projects that will bring in money and not just to offer free services”. She listed projects under the Greenfield investment to include construction, design, build operation risk and typically higher risks. That of Brownfield includes typically medium risk like operating toll road with need for significant capital and investment for improvement/expansion. She, however, suggested some consideration and review of existing engagement rule to create opportunities for investment in critical areas in the economy. She added that the government should consider the introduction of infrastructure bond as the surest way to introduce majority of pension funds with infrastructure investment. According to her, bonds should be tied to specific projects issued with the government guarantees and issued at project completion or close to cash flow generation. Listing challenges with risks around the government support for infrastructure investment, Sulaiman said there were regulatory instability, inadequate viable public private sector partnership, legal framework, high bidding and fragmentation of market amongst different levels of government. PenCom’s stance During the recent retreat organised by PenCom, the Director General of the commission, Chinelo Ahonu-Amazu, restated the fact the funds were first and foremost tied to pensioners rather than the government. She said: “You see, there has been a lot of noise over N5 trillion. We are immune to it. These funds belong to pensioners, money contributed for the purpose of their retirement and every single kobo can be traced. The primary reason for that contribution is payment at their retirement. As part of take way from 2014 summit, we are looking at how to leverage on domestic financing for sustainable infrastructure growth, not just in Nigeria but Africa as whole. Besides, she noted: “Considering the huge infrastructure deficit, placing that side by side with the ownership of this fund, it is better to exercise highest degree of caution. We are also thinking of how to channel this fund into the social needs that would be enjoyed by retirees and contributors. “We need to find ways to ensure that a significant portion of these funds are channeled towards developing infrastructure, real estate and other social infrastructure that will bring returns on investments. However, this channeling must not be done without the highest forms of security,” she said.

MONDAY APRIL 18, 2016 NEW TELEGRAPH

OPPORTUNITY The meeting will create an opportunity for networking and exchange of business information among the participants Stories by Sunday Ojeme

he Regional Director, Africa-Re, Mr. Sory Diomande, has expressed confidence in Nigeria’s insurance market and the ability of the operators to successfully host the West Africa Insurance Companies Association (WAICA) conference next week. The event, which is the 38th Annual General Meeting (AGM)

BUSINESS | Insurance

Africa-Re boss expresses confidence in Nigeria

...as WAICA confab holds in Lagos and Education Conference of WAICA, will be declared open in Lagos by the Minister of Finance, Mrs. Kemi Adeosun. According to Diomande, who is also the Chairman of the Local Organising Committee, “the fact that Nigeria is hosting the 38th WAICA AGM and Education Conference is yet another opportunity for Nigerians to showcase her hospitality. It gives us a unique opportunity to showcase Nigeria’s rich cultural heritage.

“It is a vote of confidence on the Nigeria insurance market and it creates an opportunity for networking and exchange of business information. “I believe the Nigerian market stands to benefit from this event. I also know that the delegates from other countries will have fond memories of their stay in Nigeria.” He urged all the players in the Nigerian market, underwriters, brokers, loss adjusters and surveyors to see this event as an

industry event and a unique opportunity to make a lasting impression about the Nigerian market. A statement made available to New Telegraph said that the three-day event would also witness the swearing-in of the Managing Director/Chief Executive Officer of Industrial And General Insurance Plc, Mr. Rotimi Fashola, as the new WAICA President. The statement signed by the Head, Corporate Communications, Nigerian Insurers As-

L-R: Executive Commissioner, Legal and Enforcement, SEC, Sa’adatu Bello; Director General, SEC, Mounir Gwarzo, and Executive Commissioner, Corporate Services, Hon. Zakawanu Garuba, during the 1st Quarter Capital Market Committee meeting press conference in Lagos.

IGI gets NAICOM’s approval to restructure assets

he National Insurance Commission (NAICOM) has approved plans by the Industrial and General Insurance Plc (IGI) to convert part of its long-term assets to liquidity. With the approval, IGI can now restructure its massive investment in real estate and subsidiaries, amounting to billions of naira, by offering them for sale and injecting the proceeds into its day-to-day operations. According to a statement by

the company, IGI is opting for asset restructuring as part of measures to raise liquidity for the repositioning of the company in the core business of insurance. The statement said: “We launched a strategic transformation policy in 2014, which is running well with great expectations for the future. The company needs money to boost its liquidity and enhance its capacity to meet all obligations promptly, including payment of claims.”

Already, the company has concluded plans to divest from under-performing subsidiaries anywhere they are, with a view to concentrating fully on insurance business in Nigeria. IGI owns insurance “IGI remains the most endowed insurer in asset base and we want to leverage that strength to restore ourleadership in industry. Some of the properties are already up for sale,” the statement added.

Wapic Insurance recapitalises

apic Insurance has announced its compliance with the National Insurance Commission’s (NIC) recapitalisation requirement, with the injection of fresh funds, which have raised its capital base to GH¢17.1 million, above the GH¢15 million minimum quota. The company said in a statement that the regulatory recapitalisation directive was in line with Wapic Insurance’s own ongoing transformational agenda to position the company for industry leadership. Accordingly, the company said it had commenced deepen-

ing its capital base since 2014 prior to the NIC’s revision of the solvency framework. Wapic’s parent company, Wapic Insurance Plc of Nigeria injected GH¢6.78 million to boost the company’s capital base in the first quarter of 2014 and another GH¢10.41 million in last December to enhance its capital adequacy ratio, which is above the 150 per cent regulatory minimum. The insurance industry regulator, the National Insurance Commission (NIC), introduced a new solvency framework in 2015, which took effect on January 1, 2016. Under the new guidelines,

all insurers and reinsurers were expected to recapitalise to a minimum of GH¢15 million by December 31, 2015. The capital base of insurers was increased from $1 million to GH¢15 million. This was in a quest to strengthen the financial capacity of operators in the Ghanaian insurance industry. Commenting on the company’s outlook for 2016, the Managing Director of Wapic Ghana, Mr Adedayo Arowojolu, said the year “presents a unique opportunity to create a truly African financial services company with international delivery standards”.

sociation, Davies Iyasere, said the conference, with the theme, “The Practice of Insurance in a Challenged Economy,” would have twopaper presentations with the first paper on “Insurance as a Growth option in a Challenged Economy” delivered by a past Chairman of the Nigerian Insurers Association and Group Managing Director, Custodian And Allied Insurance Plc, Mr. Wole Oshin. Oshin, an accomplished businessman and a market leader, has delivered many papers at local and international conferences and workshops. The paper will be discussed by the Managing Director, Afro-Asian Insurance Services Limited, London, Mr. Udai Patel, and Deputy Managing Director, Zep-Re, PTA Reinsurance Co, Nairobi, Kenya, Ms. Hope Murera, while Chairman, Board of Directors, SIC Insurance Company Ltd, Accra, Ghana, Mr. Mike Hamah, will chair the session. The second paper on “Traditional Insurance vs the need for Recaliberation of Industry Practices in Dealing with Future Challenges for Insurers” will be taken by the Managing Director/CEO, Ghana Reinsurance Co. Accra, Ghana, Mr. Gustav Siale. This paper will be discussed by M.D, Scib Insurance Brokers Shola Tinubu, and the Managing Director, Glico Life Insurance Co, Accra, Ghana, Edward F-Kyei, while the President of the Chartered Insurance Institute of Nigeria and Managing Director of Nigeria Re, Lady Isioma Chukwuma will chair the session.

PwC: Insurers’ll have to grow differently to survive

s volatile markets drive investment returns lower, insurance companies are going to have to get smarter about managing risk and servicing customers in order to maintain profit levels, Price Water House Coopers (PwC) has said. It noted that insurers are being forced to break away from ‘business as usual’. In a report, Victor Muguto, PwC Africa’s long-term insurance leader, told journalists while presenting the findings of his firm’s South Africa insurance report: “Insurers in South Africa have been very fortunate since 2008 in that the investment markets have always come to their rescue, but there are worrying trends in the volatility in markets. “Political uncertainty is another issue, along with uncontrollable factors such as the drought and the global climate change situation.” Discovery, Liberty, MMI, Old Mutual and Sanlam were included in the longterm insurance survey, while Santam, Mutual & Federal and OUTsurance were analysed on the short-

term insurance side. The combined earnings of the five life insurers assessed totalled R33.4 billion in 2015, up 18 per cent on 2014. Total investment income fell 17 per cent on the previous year to R154.4 billion. “South African insurers faced a difficult environment, which was compounded by rising interest rates, fears of possible sovereign rating downgrades and declining GDP growth rates,” said Dewald van den Berg, PwC’s insurance technical partner. While long-term insurers continued to deliver a high return on equity (21 per cent for the last three years), their embedded value earnings came under pressure, falling 16 per cent to R33 billion. This was primarily a function of the risk discount rate, or cost of funds, ticking upwards, resulting in a reduced present value of future profits in their embedded value, as investors demanded a higher return. The value of new business among long-term insurers was flat year-onyear, reflecting pressure on premium pricing in a weak consumer economy.

BUSINESS | Financial Market News

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

15-Apr-16

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

Price

Rating/Agency

Issuer

Description 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 ^12.50 22-JAN-2026 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 12.40 18-MAR-2036

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

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 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.40

581.39 480.13 20.00 100.00 300.00 351.30 233.90 576.93 605.31 719.99 266.02 75.00 150.00 200.00 591.57 1075.92 80.00

TOTAL OUTSTANDING VALUE

6,407.46

TOTAL MARKET CAPITALISATION

6,497.75

Rating/Agency

Description

Issuer

Maturity Date

TTM (Yrs)

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 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.34 1.03 1.28 1.38 2.12 3.20 3.52 3.83 5.78 7.91 9.77 12.62 13.10 13.60 14.27 18.26 19.92

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

7.01 10.81 10.72 10.82 11.14 11.48 11.74 12.00 11.86 12.44 12.58 12.64 12.65 12.66 12.68 12.76 13.01

6.57 10.65 10.59 10.70 11.06 11.37 11.62 11.91 11.79 12.38 12.53 12.60 12.60 12.60 12.62 12.72 12.96

101.95 104.08 98.95 98.14 99.15 111.79 86.64 110.55 118.54 108.70 99.51 114.65 98.95 73.31 82.51 95.66 95.68

102.10 104.23 99.10 98.29 99.30 112.09 86.94 110.85 118.84 109.00 99.81 114.95 99.25 73.61 82.81 95.96 95.98

6362.457269

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.20

03-Apr-17

0.54

2.94

12.00

102.69

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 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.21 0.21 1.01 0.73 1.71 1.52 1.54 1.50 1.51 1.69 2.11 3.60 2.08 4.62 4.71 2.75 2.77 3.97 3.56 3.58 4.03 6.46 3.68

4.46 3.48 1.00 5.71 3.21 1.00 1.00 3.82 3.56 1.00 2.02 1.98 4.35 1.30 3.76 3.76 1.00 1.52 3.67 1.00 2.52 1.79 3.04

9.73 8.75 11.42 15.33 14.23 11.96 11.96 14.77 14.51 12.01 13.16 13.76 15.48 13.25 15.70 15.10 12.34 13.15 15.43 12.77 14.35 13.70 14.86

100.79 101.30 98.67 98.90 99.61 102.71 102.73 99.60 99.29 105.03 104.07 102.00 98.76 100.82 97.67 98.69 105.79 105.87 102.65 109.99 108.40 113.12 105.54

29-Sep-16 25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 30-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 06-Nov-20 14-Nov-20 04-Dec-20 20-Nov-21 30-Dec-21 13-May-22 26-Oct-22 30-Sep-24 30-Sep-24 29-Jul-30

0.46 0.53 0.65 1.01 1.22 1.46 0.91 1.23 1.40 1.40 2.46 1.26 1.59 1.71 2.31 4.58 3.08 5.60 5.71 6.07 4.25 8.46 8.46 9.59

1.00 1.34 1.00 6.96 6.41 2.36 1.88 3.15 6.35 1.00 1.17 6.17 6.11 3.28 4.47 1.00 3.55 2.48 1.00 1.00 2.77 1.00 1.00 1.00

9.41 10.35 10.37 17.38 17.07 13.27 12.03 13.82 17.20 11.85 12.42 16.86 17.09 14.30 15.67 12.95 15.02 14.37 12.89 12.94 14.74 13.48 13.48 13.56

101.54 101.94 103.40 99.20 99.31 99.64 105.72 102.35 100.85 105.06 103.25 98.81 101.14 102.42 98.79 107.74 101.08 99.53 114.00 114.57 103.71 113.92 98.85 106.74

10-Oct-20

2.60

3.37

14.66

100.18

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.20

TOTAL MARKET CAPITALISATION

1.23

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

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 31-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 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

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 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 15.50 BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

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 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

1.30 2.05 57.00 16.45 25.00 23.44 4.22 10.98 8.14 21.68 12.55 80.00 21.65 87.50 5.00 4.03 4.04 14.37 4.39 4.53 27.10 3.00 7.68

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

446.12 453.99

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

NAHCO FSDH ***LCRM UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA#{r} *FCMB NAHCO *TRANSCORP HOTELS PLC *FCMB UBA FIDELITY *TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 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 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 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.25 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

29-Sep-11 25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 30-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 06-Nov-15 14-Nov-13 04-Dec-15 20-Nov-14 30-Dec-14 13-May-15 26-Oct-15 30-Sep-14 30-Sep-14 29-Jul-15

13.00 14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.00 15.25 15.50 14.25 16.45 16.48 16.00 16.29 13.25 14.90

15.00 5.53 112.22 116.70 66.49 20.00 0.46 3.60 1.82 0.50 35.00 1.80 0.27 4.50 23.19 2.05 9.76 26.00 30.50 30.00 10.00 0.10 15.44 7.90

TOTAL OUTSTANDING VALUE

538.83

TOTAL MARKET CAPITALISATION

552.14

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

9.40

TOTAL OUTSTANDING VALUE

9.40

TOTAL MARKET CAPITALISATION

9.42

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.83

1.00

10.29

99.83

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.05

1.00

10.99

100.63

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 25.01 Description

Issuer

Issue Date

Outstanding Value ($’mm)

Coupon (%)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.29

7.11

97.83

98.57

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.39

4.98

99.44

100.29

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.58

7.43

93.36

94.17

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,453.15

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

373.41

19-May-16

8.68

-0.02

99.88

100.61

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

9.54

97.31

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

20.23

19.03

78.41

80.09

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.21

95.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.67

91.25

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

16.01

15.29

82.82

84.34

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

13.63 13.83 14.47

82.25 83.00 76.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,523.41 3,083.60 Description

Issuer

Issue Date

Yield @ Issue (%)

Outstanding Value (₦’bn)

Maturity Date

Commercial Papers Nil

GUINNESS NIGERIA

GUINNESS CP II 4-MAY-16

04-Nov-15

13.25

7.23

04-May-16

6.03

8.56

8.52

Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

04-Nov-15

13.75

2.77

29-Jul-16

105

6.18

12.61

12.17

TOTAL OUTSTANDING VALUE

10.00

**TREASURY BILLS^ DTM 13 20 34 41 48 55 62 69

FIXINGS Maturity 28-Apr-16 5-May-16 19-May-16 26-May-16 2-Jun-16 9-Jun-16 16-Jun-16 23-Jun-16

Bid Discount (%) 3.56 3.22 3.24 3.36 5.66 5.74 5.85 5.97

Offer Discount (%) 3.31 2.97 2.99 3.11 5.41 5.49 5.60 5.72

Bid Yield (%) 3.56 3.23 3.25 3.37 5.70 5.79 5.91 6.04

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 4.5417 8.3768 10.3926 12.4791

Tenor

Rate (%)

OBB

4.00

O/N

4.50

Tenor Call 1M

REPO

Rate (%) 4.33 5.17

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

198.78 199.21 199.46 200.23 201.54 202.93

198.88 199.73 200.00 200.93 202.45 204.17

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

Price

Rating/Agency

Issuer

NA MONDAY APRIL 18, 2016 NEW TELEGRAPH

BEARISH Investors stake N13.328 billion in 15,212 deals

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Agency Bonds FMBN

TOTAL OUTSTANDING VALUE

Stories by Chris Ugwu TOTAL MARKET CAPITALISATION

Sub-National Bonds

ope for turnaround *BENUE *IMO of the stock market LAGOS dimmed at *BAYELSA the weekEDO end, as the*DELTA NSE All*NIGER Share Index and Market Capi*EKITI talisation fell by 2.4*NIGER per cent *ONDO *GOMBE to close at 24,719.27 and N8.503 LAGOS trillion respectively.*OSUN LAGOS The downturn of the nation’s KOGI *EKITI capital market, according to mar*NASARAWA *BAUCHI ket watchers, was in response to *OYO the recent intention by*BENUE the index *PLATEAU KOGI provider MSCI, seeking feedback *CROSS RIVER from investors on the ease of TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION access to the Nigerian equity Corporate Bonds market, a move that could lead A+/Agusto; A-/GCR NAHCO to it being excluded from A-/Agusto FSDH MSCI’s Nil Frontier Markets index. ***LCRM Nil Nil The MSCI Frontier Markets A/GCR UBA BBB+/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

BBB-/GCR Nil A-/DataPro†; CCC/GCR AAA/DataPro†; B/GCR A+/Agusto; A/GCR Bbb+/Agusto†; BBB+/GCR† BBB-/DataPro†; BB/GCR Nil A-/GCR A+/Agusto; A-/GCR Bbb/Agusto; A-/GCR BBB/GCR A/GCR BBB/GCR Bbb/Agusto; A-/GCR A/GCR A/GCR AAA/GCR

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 ^12.50 22-JAN-2026 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 12.40 18-MAR-2036