Monday, august 22, 2016 binder1 by Newtelegraphonline

NJC probes judge over secret meetings with Sheriff Tunde Oyesina ABUJA

here are strong indications over the weekend that the

National Judicial Commission (NJC) had commenced a probe into the alleged meetings between the factional National Chairman

of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff and Justice A. M Liman of the Federal High Court, Port Harcourt

Division. The meetings between Sheriff and Justice Liman were held in Kaduna and Accra, Ghana.

TUC condemns planned 9% telcoms tax }4

The Council is also probing the judge over alleged circumstances surrounding a judgement Justice Liman delivered in a suit marked, FHC/PH/ CS/524/2016 filed by the

Chairman and Secretary, National Caretaker Committee of PDP, Senators Ahmed Makarfi and Ben Obi respectively, against the factional national CONTINUED ON PAGE 4

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Monday, August 22, 2016

Unpaid salaries: NLC to apply 'no pay, no work' rule }8

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Buhari seeks emergency powers to reflate economy Wabba

Onyema

The suspects

Abubakar

Highlights Amendment to Public Procurement Act Virement of budget allocations States to pay 10% UBEC counterpart fund To jack up contract mobilisation fees from 15% to 50% Sales of non-core assets Use of barges to supply gas to power plants Issuance of visas on arrival To favour local firms in contract awards Ease registration of businesses Harmonise Immigration, Customs and DSS functions at airports Some youths on unicycle ride along Ojuelegba Road, in Lagos…yesterday.

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28/07/2016 15:16

NEWS

MONday, AUGUST 22, 2016 NEW TELEGRAPH

Buhari seeks emergency powers to reflate economy

Ayodele Ojo

n the face of recession and the attendant economic hardship in the country, President Muhammadu Buhari is seeking emergency powers to reflate the economy. The emergency powers are to last for one year. Impeccable sources told New Telegraph that the president will submit an executive bill to the National Assembly this week for consideration, although the legislature is on break. The bill, titled: Emergency Economic Stabilisation Bill 2016, is in three parts: Objectives and application; Timeliness, thresholds and other limitations; and miscellaneous. In the bill, the president

N87.83bn

The total import value of prepared foodstuffs; beverages, spirits and vinegar; tobacco of Nigeria in Oct – Dec 2012. Source: National Bureau of Statistics

wants to carry out radical reforms that have both executive and legislative components. The executive orders will involve issuance of visas, registration of businesses, granting of waivers, process of tendering and sales of non-core assets. The emergency powers that have the legislative components include the Universal Basic Education Commission (UBEC) Act, procurement process and virement of budget allocations. The objectives of the emergency powers are to reflate the economy by creating more jobs, boost foreign reserves, ensure inflow of foreign exchange, strengthens the naira, resuscitate the manufactur-

104

The sex ratio of women to 100 men (international migrants) in Dem. Republic of Congo in 2010. Source: Un.org

ing sector and get contractors back to site. A source in the Presidency confirmed to New Telegraph that the radical reforms are in the executive bill, which will be tabled before the National Assembly this week. According to the source, “the president is worried about the state of the economy and attendant hardship in the country. And to tackle some of the challenges, President Buhari is seeking for emergency powers to carry out radical reforms in the polity. “Buhari must respond frontally to the challenges of recession. He can’t do it under the extant conditions. He is now seeking powers to enable him roll out some economic packages. “In three days’ time, Buhari will be seeking from the National Assembly powers to amend procurement process in order to support stimulus spending in critical sectors; he is seeking power to favour

local suppliers/contractors in contract awards.” In the area of budgeting, Buhari plans to issue executive orders to allow virement of budgetary allocations of projects within Ministries, Departments and Agencies (MDAs) that are of topmost priority. The source said that the president is concerned about the delay in the procurement process, which takes more than six months. Hence, Buhari is seeking the suspension of Section 34(3) of the Public Procurement Act. This, according to sources, is to ensure that the administrative encumbrances in the procurement process and award of contracts are done away with. The president is also considering sales of noncore assets to raise money. “Nigeria has a lot of noncore assets that can be sold to reflate the economy. But the process to lease or sell the assets will take one year. So, the president wants to fast track the pro-

L-R: Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta; Governor of Kano State, Dr. Abdullahi Umar Ganduje and Minister of Communications Technology, Mr. Adebayo Shittu, at the Nigeria Digital Innovation Conference at Bayero University Kano (BUK)…at the weekend.

cess. He believes that there is no need keeping those assets if the nation can generate over $50 billion through lease and sales,” a source in the know told New Telegraph. The president is seeking reforms in the issuance of visas. It was learnt that Buhari is proposing two approaches to issuance of visa. One is visa on arrival while the second one is to ensure that henceforth, tourist and business visas are issued within 48 hours at all the consular offices of Nigeria. In the bill, the president is seeking powers to give contractors 50 per cent mobilisation fees unlike 15 per cent obtainable today. “The 15 per cent is grossly inadequate. This is why most projects are abandoned because the 15 per cent the contractors get is not enough to substantially execute projects,” an aide of the president said. Buhari is also seeking the nod of the National Assembly to amend the UBEC Act so as to free the N58 billion trapped in the Fund as a result of the inability of the states to pay 50 per cent counterpart funding. The president wants an amendment to the Section 11(2) of the UBEC Act. “Today, N58 billion is trapped in UBEC Fund. The law states that states must pay 50 per cent counterpart funding. Unfortunately, many states can’t pay because of their financial situation. You know payment of workers’ salaries is a big issue for most of the states. “So, the president will be seeking amendment to the UBEC Act which

mandates the states to commit 50 per cent of the counterpart fund. With the proposed amendment, the states will only be required to contribute 10 per cent instead of 50 per cent,” the source told New Telegraph. Buhari is seeking powers for radical reforms of the business climate. This involves powers to prepare agencies to respond promptly to licence registration. This will allow entrepreneurs to apply for registration and get approval within seven days. Failure of which, the applicant is deemed licenced after seven days without hearing from the agencies such as the National Agency for Food and Drug Administration and Control (NAFDAC) and the Corporate Affairs Commission (CAC). Also, any staff that failed to respond promptly to the applications will be punished. The government is planning to ensure ease of doing business by improving/harmonising airport processes. That is harmonising the functions of Immigration, Customs and Department of State Services (DSS) at the airports. The emergency powers will also entail the president authorising the use of barges to supply gas to power plants. “Though this approach is costlier than using pipeline, but this is to ensure that the power plants are not short of gas. So, the president will authorise the use of barges to supply gas to the power plants,” a source familiar with the programme said.

PDP faction to CJN: Save judiciary from crisis SunTrust Bank targets over 100m unbanked Nigerians Onyekachi Eze ABUJA

actional leadership of the Peoples Democratic Party (PDP) has called on the Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed and the National Judicial Council (NJC) to save the nation's judiciary from avoidable crisis and embarrassment in view of conflicting court orders regarding the leadership crisis in the party. The faction also said it has forwarded a petition to the CJN and NJC against Justice Mohammed Liman of the Federal High Court, Port Harcourt division for the role he is playing in the matter. Embattled former National Secretary, Prof. Wale Oladipo, in a statement yesterday, said Justice Liman granted an ex-parte order in respect of the same issues and parties on May 23, 12

days after the Federal High Court, Lagos, had seized the matter and made orders which forbade the PDP from conducting any election into the offices of the National Chairman, National Secretary and National Auditor. Oladipo noted that while Justice I.N. Buba of Lagos Division of the court decided to return the case file to the Chief Judge of the Federal High Court for administrative action after being aware of the multiplicity of suits, Justice Liman proceeded to hear the matter and went on to deliver a judgement that further reaffirmed the exparte orders within 40 days. “The court, as presided over by Justice Watila, granted an ex-parte order, converted it to a Motion on Notice through substituted service, heard the matter within 72 hours and delivered judgement within a week without af-

fording those who wished to be joined as parties the opportunity to do so. “Having successfully done that without being called to order, the same Justice Watila is said to be ready to grant another ex-parte order and curious judgement in the coming days and week,” he alleged. Oladipo said he has been reliably informed that Justice Watila will be making some orders to validate the actions taken at the botched August 17 National Convention, “in spite of the fact that it was held in violation of valid and subsisting orders of court." He urged President Muhammadu Buhari and the CJN to prevail on the Chief Judge of the Federal High Court, Justice Ibrahim Auta, to wade into the situation as the head of the court and save the judiciary and democracy from an “avoidable crisis and embarrassment.”

hief Executive of SunTrust Bank, Muhammed Jubrin, has pledged to attract over 100 million unbanked Nigerians into the banking sector, using technology. He believes this will go a long way in deepening the financial sector and achieving the Central Bank of Nigeria’s (CBN) goal of encouraging savings culture among the populace. “It is unfortunate that we have just about 30 million Nigerians within the banking sector, as captured by the BVN. This is alarming when we consider the number of Nigerians that should have bank accounts. We are determined to use technology to attract more Nigerians into the banking sector. We are very positive that this is possible and with the success in the telecommunication sector, we are sure that our mobile banking applications will entice

millions of able Nigerians into the sector,” Jubrin told select journalists last week. Noting that over 113 million functional telephone lines are now being used by Nigerians, he said the success story in the telecommunication sector is enough to give the management of the new bank hope that their aim of banking millions of unbanked Nigerians, using technology, is achievable. He promised that the bank will “bring banking to your home rather than make you come to us. “We will be everywhere, but we will be nowhere. We will offer telephone, mobile and Internet banking underpinned by the traditional banking ethics of probity and integrity,” he said. According to him, the bank’s competitive edge will be the strong reliance on technology, adding that

Sun Trust Bank will be encouraging customers to access its services from the comfort of their homes and offices, thereby making it unnecessary for it to open too many branches. Jubrin revealed that by adopting a branchless strategy, SunTrust will save between N100 million and N120 million required to build a modern branch and about N2.5 million it costs to run generators at a typical bank branch. He further stated that customers of SunTrust will be encouraged to use any bank’s Automated Teller Machine (ATM) because the bank will not be charging them the fee charged by other banks for using ATMs belonging to other banks. According to the CEO, “We will not be emphasizing physical security, as we are making serious investment in cyber security instead.”

MONday, AUGUST 22, 2016 NEW TELEGRAPH

SUCCESS STORIES OF THE BOI-NYSC GRADUATE ENTREPRENEURSHIP FUND (GEF) “My name is Aisha Ilna, owner of Faraish Goats, Kano. Being a beneciary of the BOI Graduate Entrepreneurship Fund has opened my business up to the bigger possibilities in animal husbandry processing and value addition, and my long-term goal, with the support of the Bank of Industry, is to go into processing and value addition thereby creating more jobs for young people in my community”

“...A lot more can be done for thousands of youth corps members across the country since there are three batches in a year” Waheed A. Olagunju

Ag. Managing Director & CEO, Bank of Industry

Aisha Ilna

Aisha Ilna, owner of Faraish Goats | NYSC Batch A, 2015

THE BOI-NYSC GRADUATE ENTREPRENEURSHIP FUND

…supporting youth entrepreneurship

NEWS

MONday, AUGUST 22, 2016 NEW TELEGRAPH

TUC condemns planned 9% telcoms tax

Sunday Ojeme

ollowing Federal G ove r n m e n t ’s planned imposition of Communication Service Tax (CST) on telephone users in the country, the leadership of Trade Union Congress (TUC) of Nigeria has advised members of the National Assembly to reject the bill. It said the masses are already overburdened with multiple tax payment. In a statement signed by the President of TUC, Bobboi Bala Kaigama and the acting Secretary General, Simeso Amachree, the Congress condemned the proposed imposition as recently mooted by the Minister of Communica-

tion, Mr. Adebayo Shittu. The bill, if passed into law, means that nine per cent tax would be charged on all phone calls, SMS, MMS, data and other services. According to TUC, “if we sufficiently understand the minister, we wonder how he expects such tax to be paid by any worker in a country where the national minimum wage is N18,000 and at a time when workers’ takehome pay no longer takes them home. Apart from exploiting the already impoverished masses, the policy would also discourage investment and lead to loss of jobs.” The congress faulted the minister’s claim that the country would earn

as much as N20 billion monthly in consequence of passage of the proposed bill and that it would help cushion some of the country’s economic challenges and fund budget deficits. It noted: “While we appreciate the minister’s concern on how to fund the budget, should the government’s focus not rather be on ensuring more judicious use of revenue derived from Value Added Tax (VAT), Pay-AsYou-Earn (PAYE), stamp duties, vehicle licenses, passport fees, customs duty, petroleum profit tax (PPT) and other taxes collected from the masses and companies? And would it not be more appropriate for the desired additional taxes to be

imposed on the GSM operators and other players in the communications industry rather than the poor masses?” The labour union also wondered why the common people should always be at the receiving end, stressing that the congress and the generality of Nigerians knew that most government officers rarely paid for anything, including their children’s school fees and utility bills, which cost is on the masses. The congress pointed out that the country was in economic straits and the need to generate more revenue does not mean that laws that adversely affect disposable income and gross domestic product (GDP) should be pro-

L-R: Father of the groom, Prince Tokunbo Aromolaran; Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; his wife, Olori Wuraola; the couple, Doyinsola and Adebayo Aromolaran; groom’s mother, Bambo and Acting Managing Director/CEO, Bank of Industry (BoI)/father of the bride, Mr. Waheed Olagunju, at the wedding reception in Lagos…at the weekend. PHOTO: SULEIMAN HUSAINI.

mulgated. It noted: “Information reaching us has it that there was a “stakeholders’ meeting” that excluded members of organised labour and the poor people who are expected to make these payments because we do not count. “It is unfortunate that the minister is evidently

only interested in monetary gains from the communications sector to the detriment of the welfare of Nigerians. If various tiers of government aim to increase their revenues, they must start by looking inward to the vast deposits of natural resources within their respective jurisdictions."

Skye Bank’s ‘select summer campaign’ gathers momentum

he on-going “Skye Select Summer campaign” of Skye Bank has continued to gather momentum as enthusiastic members of the public have been opening accounts in large numbers. The Skye Select summer campaign offers a new investment window for discerning high-end individuals who value personalised services and unique lifestyle. The campaign is targeted at the upper-middle level managers and professionals who earn a monthly net income of N750,000 and above, and travel regularly. According to a statement issued by the bank, those who take advantage of the summer campaign to either open new accounts or build up their existing accounts would enjoy increased earnings via interest on their credit balances, as well as benefit from discounted interest

rates on personal loans. Other benefits of the Skye Select account are free chequebooks and the ability to make unlimited withdrawals from their accounts. The bank explained that other lifestyle benefits that customers would enjoy include exclusive discount at Hilton Hotel, Abuja, free priority pass membership, as well as two free airport lounge visits per year. The bank further said customers will enjoy packaged holiday tours through its Skye Travel Finance in addition to being offered fast track services in designated branches, and will also be assigned dedicated relationship officers. Skye Select is an individual current account designed for discerning highend individual customers who value personalised service and could afford a constant credit balance of N100,000 in their accounts.

NJC probes judge over secret meetings with Sheriff CONTINUED FROM PAGE 1

chairman and secretary of the party, Sheriff and Prof. Wale Oladipo. The probe was as a result of a petition against the judge filed by Sheriff and submitted to the office of the Chief Justice of Nigeria (CJN) who is also the Chairman of the NJC. The petition was entitled “Re: Corrupt practices and breach of the Code of Conduct for judicial officers of the Federal Republic of Nigeria by Justice A.M Liman of the Federal High Court in respect of suit no. FHC/PH/CS/524/2016.” Sheriff, in his petition dated July 4 and personally signed by him, alleged that he, on two different occasions, met with Justice Liman at his (Liman’s) request both in Kaduna and Ghana respectively over the suit in respect of the PDP leadership tussle. “In June 2016 (sic), I received a call from my Principal Secretary who informed me that Justice Liman was with him in his house and it will be good if I speak with him. I then spoke with Justice Liman

who informed me that he would be attending Judges’ Conference in Kaduna and that we should meet in Kaduna concerning the case before him. “On May 28 (sic), I went to Kaduna to meet Justice Liman and stayed at the ASA Pyramid Hotel. Justice Liman came to meet me in my hotel room with a Senior Judge of the Federal High Court,” Sheriff alleged in his petition. Sherriff added that Justice Liman told him that he (Justice Liman) was under intense pressure to determine the matter in favour of the Caretaker Committee, although he realised that the justice of the matter was on his side in view of the previous orders of his brother judges in the Lagos Division of the court. “A few days later, Justice Liman informed me that he would be attending a conference in Ghana and that I should come and see him in Ghana for further discussion. I went to Ghana on June 20 and stayed at Movenpic Hotel in Accra for one night.

“That same day, soon after I checked into the room, Justice Liman came to see me in my room late in the evening. My aide, Shettima Shehu, was with me when Justice Liman arrived and left us soon after greeting the judge who was dressed in track suit. “While in my hotel room in Ghana, the judge reiterated the pressure mounted on him by a PDP chieftain and wondered why the party chieftain was that desperate and he expressed fear of the chieftain,” the petition reads. In the petition, Sheriff alleged that Justice Liman had, on May 23, among others, granted an ex-parte order in a suit filed by Makarfi and Obi restraining him and other executive members purportedly removed by the National Convention from parading themselves, nor do anything howsoever to negate the decisions reached at the said convention. Sheriff added that his lawyer had filed a motion to discharge the ex-parte on May 26 and the judge refused to hear the motion

within the period of 14 days prescribed by Order 26 rule 12 of the Federal High Court Civil Procedure Rules 2009. A top source in the judiciary, who spoke with New Telegraph under the condition of anonymity, said that the NJC is concerned about several conflicting judgements coming from different courts and judges over same subject matter, adding that the council is set to look into it, having received some petitions over the same issue. According to the source, “when such petition comes, it will go straight to the CJN as the chairman of the NJC. On receipt of the petition, the CJN will now

3,100

The total number of applicants of the 2015 BOI-NYSC batch A Graduate Entrepreneurship Fund (GEF). Source: Bank of Industry

1,002

The total number of approved application of the 2015 BOI-NYSC batch A Graduate Entrepreneurship Fund (GEF). Source: Bank of Industry

send it to the Preliminary Complaint Assessment Committee. That is the committee that will look into the merit of the petition. If it is meritorious, the committee will now come before the council to tell it that there is a prima facie case, and that the council should set up a committee to investigate the petition. “It is after, that a committee will be set up and the two parties will be invited to defend themselves. The two parties will be asked to come with their lawyers, but will also be given the option of defending themselves if they want. It is going to be a threemember committee. The chairman of the committee may likely be a Court of Appeal Justice, alongside two other members. “After the committee might have looked at the submissions of the parties, it will form an opinion. The committee will, in turn, bring their report to the council where a decision will be taken.” New Telegraph recalls that the council had not too long sacked some

judges over alleged gross misconduct and breach of code of conduct for judicial officers. Similarly, the Economic and Financial Crimes Commission (EFCC) is already prosecuting some senior lawyers over their alleged shady dealings with judges handling their matters. There have been conflicting judgements in recent time over the PDP leadership tussle. Prominent among the judges who are delivering such judgements in the Federal High Court are Justice Buba of Lagos division, Justice Okon Abang of the Abuja division, Justice Liman and Justice Ibrahim Watila of the Port Harcourt division. While Justice Buba, on May 12, granted an order of interlocutory injunction restraining the PDP from conducting any election into the offices of the national chairman, secretary and auditor of the party, Justice Liman, on May 23, granted a conflicting order, which okayed the removal of Sheriff as the national chairman of the party.

MONday, AUGUST 22, 2016 NEW TELEGRAPH

RETURNS ON UTILIZATION OF FUNDS PURCHASED FROM THE CENTRAL BANK OF NIGERIA AS AT 19/08/2016 SN

CUSTOMER 1 FLOUR MILLS OF NIG. PLC 2 FLOUR MILLS OF NIG. PLC 3 FLOUR MILLS OF NIG. PLC 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111

GOLDEN SUGAR COMPANY LTD OLAM NIGERIA LIMITED OLAM NIGERIA LIMITED ADEBISI MAKU CAROLINE E OBIEZU-UMEH EMMANUEL OKO-JAJA IDAHOTA ARABOME JANE ONYEKA ANANYI LAURYN MAY FABRICS OGUGUA CHIOKE AND CO OSOBU OLAWUNMI AYOADE SKYSAT TECHNOLOGIES NIG. LTD SKYSAT TECHNOLOGIES NIG. LTD TAIWO OLUWASEUN ONAJOBI CATHERINE CHINYELU EKWELIBE DAVID OLUSEYI IGE OBIEKWE GABRIEL ANADUAKA OSOBU OLAWUNMI AYOADE DIGITAL MARKETING AVIOMOH NIG. LTD MOHAMMED ALI NDUME OJIYI UCHENNA ONYEMACHI UGAH HONEYWELL FLOUR MILLS PLC OANDO PLC USANCE GTEE CHGS PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) PZ CUSSONS NIGERIA PLC (NDF) NUTRICIMA LIMITED (NDF) NUTRICIMA LIMITED (NDF) NUTRICIMA LIMITED (NDF) NUTRICIMA LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) HPZ LIMITED (NDF) CANVEST NIGERIA LIMITED (NDF) CANVEST NIGERIA LIMITED (NDF) CANVEST NIGERIA LIMITED (NDF) CANVEST NIGERIA LIMITED (NDF) CANVEST NIGERIA LIMITED (NDF) CANVEST NIGERIA LIMITED (NDF) ABUBAKAR MUSA ADA OKAFOR BALACHANDRAN KRISHNAPRASAD CAPPA & D' ALBERTO PLC CHIEF MORGAN CHUKWUKA ORIAHI DANIEL ENYINNAYA OKERE DANIELLA ANGYU GIAN MICHELE VAILATI CANTA HAKAN MISRI JULIUS BERGER NIGERIA PLC MARY-ANN OBIAGELI OSIGWE NARESH CHANDRA KODIALBAIL NKIRUKA DORIS ANITE NKIRUKA DORIS ANITE NSONGURUA JOHNSON UDOMBANA RAMESH SREENIVASA RAO ROI DIGITAL LTD SHAKIR ADEWALE SALAMI SHIV LILA POLYMERS LIMITED USMAN ABDULLAHI MUHAMMED VINOD SHRIDHAR NASERY ZENITH CAPITAL ZENITH PENSIONS CUSTODIAN LTD MAMUDA INDUSTRIES NIG. LTD ABRAHAM PAUL SWART USANCE CHGS DIGITAL MARKETING S. I. L. CHEMICALS LTD ECOBANK JULIUS BERGER NIGERIA PLC SKYSAT TECHNOLOGIES NIGERIA LIMITED ZENITH PENSIONS CUSTODIAN LTD OLAM NIGERIA LIMITED (NDF) OLAM NIGERIA LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF) SARSOLI INDUSTRIES LIMITED (NDF)

112 POPULAR FARMS & MILLS LTD (FWD) 113 POPULAR FARMS & MILLS LTD (FWD) 114 115 116 117 118 119 120 121

POPULAR FARMS & MILLS LTD (FWD) PRIMA CORPORATION LIMITED (FWD) PRIMA CORPORATION LIMITED (FWD) PRIMA CORPORATION LIMITED (FWD) SOMOTEX NIG. LTD (FWD) SOMOTEX NIG. LTD (FWD) SONNEX PACKAGING NIG. LTD (FWD) SONNEX PACKAGING NIG. LTD (FWD)

122 123 124 125 126 127 128 129 130 131 132 133

WANDEL INTERNATIONAL (NIG) LTD (FWD) ARIZONA J & CO LTD CHARLES OLUFEMI OKE ESIKO SAM ODIBO USANCE LC CHG USANCE LC CHG CHI LTD HAREFEILD INDUSTRIAL GMT NIG LTD TELEX,TELEGRAMS & POSTAGES USANCE GUARANTEE CHG DIGITAL MARKETING

ITEM OF IMPORT

16000 METRIC TONS OF RUSSIAN MILLING WHEAT WITH MINIMUM PROTEIN OF 12.5 PERCENT IN BULK. - OTHER WHEAT AND MESLIN 3000 M/TONS OF US BETTER RED WINTER WHEAT WITH A MINIMUM OF 12% PROTEIN - WHEAT AND MESLIN. DURUM WHEAT 15,000 METRIC TONES OF NP 20. 20.0 IN BULK - OTHER MINERAL OR CHEMICAL FERTILIZERS CONTAINI CONTAINING NITRATE 4,000 METRIC TONS OF BRAZILIAN CANE RAW SUGAR OF AN AVERAGE COLOR BETWEEN 200 AND 1500 ICUMSA IN BULK - CANE SUGAR (RAW SUGAR NOT CONTAINING ADDED FLAVOURING OR COLOURIN 500MT- FAT FILLED MILK POWDER (RAW MATERIAL FOR INDUSTRIAL USE) - MILK PREPARATION CONTAINING FATS/OILS POW 500MT-FAT FILLED POWDER (RAW MATERIAL FOR INDUSTRIAL USE) - MILK PREPARATION CONTAINING FATS/OILS POW SCHOOL FEES FOR MOFOPEFOLUWA IYINTOSOLUWA OLARINMOYE TUITION PART PYMT IFO CHINONSO BARRY OBIEZU -UMEH SCHOOL FEES IFO NAOMI CHINYERE OKO JAJA FOR SECOND YEAR MBA SCHOOL FEES SCHOOL FEES- ROSEMARY OMENOGOR TUITION FEES FOR MR CHIBUIEKE EZEOKE, UNIVERSITY OF TORONTO SCHOOL FEES FOR CHIOKE EMMAUNELA FIRST TERM SCHOOL FEES FOR OSHOBU IBUKUNOLUWA ESTHER TUITION FEES FOR FALL 2016/2017 SEMESTER-NIRA I DEBS TUITION FEES FOR FALL 2016/2017 SEMESTER-NIRA I DEBS SCHOOL FEES MEDICAL FEE - MRS TERESA CHUKWUMA SCHOOL FEES FOR IGE DAMINI TUITION FEES FOR ANADUAKA EBUBE UDOCHUKWU FIRST TERM SCHOOL FEES FOR OSHOBU IBUKUNOLUWA ESTHER ADVERTISING FEES-GOOGLE STUDENT HOSTEL FEES TUITION FEES PAYMENT FOR AHMED ALI NDUME STUDENT TUITON PART PAYMENT OF TUITION FEE FOR UCHENNA UGAH 40,000.00MT (+/-10PCT) OF U.S. NO.2 OR BETTER HARD RED WINTER WHEAT - OTHER WHEAT AND MESLIN 28500MT PMS +/-10% - MOTOR SPIRIT USANCE CHARGES RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS RAW MATERIALS INSTANT DRY YEAST INSTANT DRY YEAST INSTANT DRY YEAST INSTANT DRY YEAST CURRY AND THYME SACHETS CURRY AND THYME SACHETS SCHOOL FEES FOR MUSA HALILU LIVING EXPENSES FOR OKAFOR FEBECHUKWU BENITA PHR/MARCH 2016/BALACHANDRAN KRISHNAPRASAD PHR PERSONAL HOME REMITTANCE AUGUST 2016 UPKEEP FOR PRINCESS IKEZAM WAMI FORM A REMM IFO MUSTAPHA ATTAH STUDENT NUM :100870703 PERSONAL HOME REMITTANCE MONTHLY PERSONAL HOME REMITTANCE FOR THE MONTH OF MAY 2016 JUNE 2015 BULK PERSONAL HOME REMITTANCES FOR JBN STAFF EXAMINATION FEES PERSONAL HOME REMITTANCE AUGUST 2016 TUITION FEES FOR ANITE CHUKWUDI JEFFREY SOLOMON TUITION FEES FOR ANITE CHUKWUDI JEFFREY SOLOMON SCHOOL FEES IFO KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY, KUMASI, GHANA (SCHOOL FEES FOR UDOMBANA IDONGESIT) PERSONAL HOME REMITTANCE AUGUST 2016 COST OF CAMPAIGN- MEDIA BUY TUITION FEES PLASTIC RAW MATERIAL: PP HOMOPOLYMER HSV103 25KG BAGS - POLYMERS OF PROPYLENE OR OF OTHER OLEFIN POLYPOPYLENE TUITION FEE FOR SHAMSUDDEEN MUHAMMAD PERSONAL HOME REMITTANCE AUGUST 2016 PAYMENT FOR BLOOMBERG TERMINAL (RENEWAL) CUSTODY FEE ON EUROBOND TANNING CHEMICALS FOR LEATHER PRODUCTION - SYNTHETIC ORGANIC TANNING SUBSTANCES ; INORGANIC TANNING SUBSTANC PERSONAL HOME REMITTANCE AUGUST 2016 USANCE CHARGES ADVERTISING FEES-GOOGLE LEMONITE CBUS POWDER (TINOPAL DMA-X) - SYNTHETIC ORGANIC COLOURING MATTER,WHETH SYNTHETIC ORGANIC PRODUC INTERBANK SALES LUBRICANTS BUILDING MATERLS,CONSUMABLES AND SPARES - GREASE PRINTING MACHINES, PARTS AND ACCESSORIES FOR PRINTING MACHINES - OTHER PRINTERS NOT INCORPERATING COPYING SWIFT SERVICES SHORT TERM LOAN SHORT TERM LOAN COMPOUND STABILIZER GRADE SN 450 - NATURAL STEATITE, WHETHER OR NOT ROUGHLY CRUSHED OR POWDERED TITANIUM DIOXIDE ANATASE GD10 - TITANIUM OXIDES. EXTRUSION PRODUCTION LINE ( KNEADER; SINGLE SCREW; AIR KNIFE BLOWER; VOLUMETRIC FEEDER) - MACHINE POLYPROPYLENE COPOLYMER - POLYMERS OF PROPYLENE OR OF OTHER OLEFIN PROPYLENE COPOLYMERS TI-PURE TITANIUM DIOXIDE R104 - TITANIUM OXIDES. CALCIUM CARBONATE AVRASYARB 2T - CARBONATES; PEROXCARBONMATES (PERCARBONATES)?... CALCIUM PIGMENTS - SYNTHETIC ORGANIC COLOURING MATTER,WHETH PIGMENTS AND PREPARATION SUDADUR YELLOW 1322K - SYNTHETIC ORGANIC COLOURING MATTER,WHETH PIGMENTS AND PREPARATION PIGMENTS- ANURANG MIDDLE CHROME M-11 - SYNTHETIC ORGANIC COLOURING MATTER,WHETH PIGMENTS AND PREPARATION OMYACARB 2 T RC (CALCIUM CARBONATE) - CARBONATES; PEROXCARBONMATES (PERCARBONATES)?... CALCIUM C D10895233: TI-PURE TITANIUM DIOXIDE R104 - TITANIUM OXIDES. TITANIUM DIOXIDE ANATASE GD10 - TITANIUM OXIDES. 10,000.00 M/TONS OF LONG GRAIN PARBOILED RICE (5 PCT BROKEN MAX) PACKED IN NEW SINGLE POLYPROPYLENE BAGS OF 25KGS / 50KGS NET EACH. - THAI PARBOILED RICE IN BULK 10,000.00 M/TONS OF LONG GRAIN PARBOILED RICE (5 PCT BROKEN MAX) PACKED IN NEW SINGLE POLYPROPYLENE BAGS OF 25KGS / 50KGS NET EACH. - THAI PARBOILED RICE IN BULK 10,000.00 M/TONS OF LONG GRAIN PARBOILED RICE (5 PCT BROKEN MAX) PACKED IN NEW SINGLE POLYPROPYLENE BAGS OF 25KGS / 50KGS NET EACH. - THAI PARBOILED RICE IN BULK PLASTIC RAW MATERIAL BOTTLE GRADE PET RESIN CR-8816L - POLYACETALS... POLY (ETHYLENE TEREPHTHALATE) PET CHIP WK-881 JADE BRAND POLYESTER CHIPS CZ-326 - OTHER POLY(ETHYLENE TEREPHTHALATE) COUGAR BRAND TYRES - NEW PNEUMATIC TYRES, OF RUBBER. OF A KIND USED ON BUSES OR LORRIE VIKRANT BRAND NYLON TYRES - NEW PNEUMATIC TYRES, OF RUBBER. OF A KIND USED ON BUSES OR LORRIE POLYESTER FILM - OTHER PLATE,SHEET,FILM.. ACRYLIC POLYMER MOULD FOR INJECTION MOULDING MACHINE - MACHINERY FOR WORKING RUBBER OR PLASTICS: PARTS TVS STAR HLX 100CC (AGD) MOTORCYCLES IN CKD - TVS BRAND. ENGINE TYPE: 4 STROKE PETROL VERSION, ENGINE CAPACITY: 100CC - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED SCHOOL FEES TUITION MEDICAL BILL PAYMENT IFO ODIBO ESIKO SAM USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES ADVERTISING FEES-GOOGLE

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

8/15/2016

315.50

686,460.85

8/15/2016 8/15/2016

315.50 315.50

1,014,734.15 3,432,325.00

8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016

315.50 315.50 315.50 317.50 317.50 317.50 317.50 317.50 317.50 317.50 317.50 317.50 317.50 317.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 305.50 305.50 305.50 305.50 305.50 305.50 305.50 305.50 305.50 305.50 290.50 290.50 290.50 290.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 305.50 305.50 305.50 305.50 305.50 305.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50

1,866,480.00 950,000.00 1,050,000.00 1,686.91 5,000.00 4,995.00 1,500.00 12,630.45 7,002.40 20,000.00 3,203.99 2,661.25 10,000.00 2,320.00 62,260.64 2,076.22 6,472.00 142.01 101,257.09 4,690.70 15,814.36 670.10 9,917.48 200,000.00 300,000.00 191,494.22 108,793.80 279,152.28 124,769.70 154,590.37 468,099.27 65,332.63 166,703.17 162,703.17 122,027.37 244,054.75 343,880.25 335,535.18 162,327.00 1,229,295.00 136,354.65 136,210.40 22,095.12 19,224.39 110,475.61 17,999.06 232,498.03 133,639.52 26,923.08 309,242.86 165,184.11 16,232.56 16,232.56 42,797.59 85,745.30 34,809.20 107,200.00 107,200.00 107,200.00 107,200.00 20,170.00 33,893.80 2,486.50 1,200.00 1,459.36 100,000.00 21,250.00 800.00 6,400.00 729.65 2,898.55 100,000.00 650.00 13,000.00 3,500.00 11,772.94

8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016

310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 319.00 318.50 310.50 310.50 310.50 244.50 244.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50

6,190.00 27,300.00 4,000.00 820.00 109,140.00 5,995.00 13,300.00 21,685.48 990.56 116,351.61 13,496.40 429.22 100,000.00 61,680.00 10,586.77 0.29 27,534.42 647.79 8,000,000.00 9,000,000.00 33,920.00 36,300.00 54,060.00 38,362.50 118,800.00 92,400.00 156,832.00 59,600.00 56,600.00 53,460.00 118,800.00 36,300.00

8/16/2016

369.99

1,425,000.00

8/16/2016

369.99

1,635,000.00

8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016

369.99 369.99 369.99 369.99 369.99 369.99 369.99 369.99

2,355,452.28 134,450.00 69,210.00 296,340.00 185,911.00 333,265.50 61,063.25 387,826.00

8/16/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016

369.99 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50

116,481.97 6,000.00 9,600.00 6,000.00 8,337.82 334.59 537.65 2,619.00 743.75 25.00 165,219.25 24,347.24

MONday, AUGUST 22, 2016 NEW TELEGRAPH

5 SN

134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202

CUSTOMER

DIGITAL MARKETING VISACARD USANCE LC CHG TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES ABIYE IYALLA PEDRO RAMESH K RAMNANI ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) ETCO NIGERIA LIMITED (NDF) MULTICHOICE NIGERIA LIMITED (NDF) MULTICHOICE NIGERIA LIMITED (NDF) MULTICHOICE NIGERIA LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) PRIMA CORPORATION LIMITED (NDF) ABDUL KAREEM JIDDA ABDULLAHI A AHMADU ABEL CHUKWUMA ADEYINKA BASHORUN

203 AMARILO PLASTICS LTD. 204 205 206 207 208 209 210 211 212 213

BAYSWATER INDUSTRIES LTD GIAN MICHELE VAILATI CANTA GIUSEPPE VONA ISRAEL U SAMPSON LIFESIGN HEALTHCARE LTD MAGDALENE UWADIOGBU OKOBAH MONTANA INDUSTRIES NIG. LTD MUSA DADDY USMAN OBETUS INVESTMENTS NIG. LTD OJIYI

214 215 216 217

SALENAB NIGERIA LTD. SIMBA INDUSTRIES LIMITED UNIQUE PHARMACEUTICALS LTD. UNIQUE PHARMACEUTICALS LTD.

218 WANDEL INTERNATIONAL (NIG) LTD. 219 WANDEL INTERNATIONAL (NIG) LTD. 220 WANDEL INTERNATIONAL (NIG) LTD. 221 WANDEL INTERNATIONAL (NIG) LTD. 222 WANDEL INTERNATIONAL (NIG) LTD. 223 WANDEL INTERNATIONAL (NIG) LTD. 224 WANDEL INTERNATIONAL (NIG) LTD. 225 WANDEL INTERNATIONAL (NIG) LTD. 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266

WANDEL INTERNATIONAL (NIG) LTD. . MOBIL OIL NIGERIA STUDIO PRESS TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES GEN & MRS DOMKAT BALI MONATI OIL AND GAS LIMITED RHODA OBETO-EMORDI TELEX,TELEGRAMS & POSTAGES ABIGAIL AGBOMMA IGWE BAMIDELE ADEMOLA ILUYOMADE RAMESH K RAMNANI CROWN FLOUR MILL LTD (NDF) BESTMAN MERCHANDISE NIG. LTD CHIOMA VIVIAN OKAGBUE IDEVA WILSON MAMUDA AGRO & ALLIED PRDTS NIG LTD OGUGUA CHIOKE AND CO OLUSEGUN ADEYEMI OGUNSANYA WILLSON NIG LTD. USANCE LC CHG USANCE LC CHG USANCE LC CHG USANCE LC CHG USANCE LC CHG USANCE LC CHG USANCE LC CHG USANCE LC CHG USANCE LC CHG DELTA INDUSTRIAL EUROCHEMCO VENT TELEX,TELEGRAMS & POSTAGES INTERSWASTIK NIG LTD ABVEE INDUSTRIES SAF INV. & PROP COY TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES DANGOTE SUGAR

ITEM OF IMPORT

ADVERTISING FEES-GOOGLE INVISIBLE USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES MSC SCHOOL FEES PERSONAL HOME REMITTANCE BLACK STEEL MATERIAL - OTHER HDPE PIPE & FITTINGS - CROSS SECTION IRON/NON ALLOY STE EXTRUSION PRODUCTION LINE ( KNEADER; SINGLE SCREW; AIR KNIFE BLOWER; VOLUMETRIC FEEDER) - MACHINE INDUSTRIAL MECHANICAL COOLING PARTS ASSEMBLING - PA FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING FLOOR TRAP-POLLUTION SEWER GUARD-FLOOR DRAIN - CENTRIFUGES, INCLUDING PROGRAMMING CHARGES PROGRAMMING CHARGES PROGRAMMING CHARGES PLASTIC RAW MATERIAL - POLYACETALS... POLY (ETHYLENE TEREPHTHALATE) PLASTIC RAW MATERIAL - OTHER POLY(ETHYLENE TEREPHTHALATE) PLASTIC RAW MATERIAL - POLYACETALS... POLY (ETHYLENE TEREPHTHALATE) PET CHIPS WK-801 - POLYACETALS... POLY (ETHYLENE TEREPHTHALATE) POLYESTER CHIPS - POLYMERS OF ETHYLENE, IN PRIMARY FORMS. ETHYLENEVINYL ACETATE PET RESIN CR-8816L - POLYMERS OF ETHYLENE, IN PRIMARY FORMS. ETHYLENEVINYL ACETATE MOPLEN EP2838 - POLYMERS OF PROPYLENE OR OF OTHER OLEFIN PROPYLENE COPOLYMERS HIGH DENSITY POLYETHYLENE RESIN - POLYMERS OF ETHYLENE, IN PRIMARY FORMS. POLYETHYL PET RESIN CR -8816L - OTHER POLY(ETHYLENE TEREPHTHALATE) PET RESIN CR -8816L - OTHER POLY(ETHYLENE TEREPHTHALATE) HIGH DENSITY POLYETHLENE RESIN H255JA INJECTION - OTHER POLY(ETHYLENE TEREPHTHALATE) PET RESIN CR-8816L - OTHER POLY(ETHYLENE TEREPHTHALATE) PET RESIN CR-8816L- PLASTIC RAW MATERIAL - OTHER POLY(ETHYLENE TEREPHTHALATE) SCH FEES- JIDDA ABDUL KAREEM SCH FEES- ABDULLAHI AHMADU USMAN SCHOOL FEES IFO CHUKWUMA ABEL MEDICAL/SURGERY 74.000 MT OF PVC SUSPENSION RESIN GRADE LS100 AS PER PROFORMA INVOICE NO 1042/16/HK OF 12 JULY 2016 - POLYMERS OF VINYL CHLORIDE OR OF OTHER HALOGENATED OLEFINS, (FLUO MONOSODIUM GLUTAMATE 24-60 MESH PACKED IN 25KG BAG FOR INDUSTRIAL USE - OTHER GLUTAMIC ACID AND ITS SALTS NOT SPE PERSONAL HOME REMITTANCE MONTHLY SALARY TUITION FEE FOR DEBORAH ISRAEL SAMPSON MEDICAL ITEMS: LIFESIGN COTTON GAUZE BANDAGES - WADDING, GAUZE, BANDAGES AND SIMILAR ART OTHER TUITION FEES FOR MAGDALENE UWADIOGBU OKOBAH LLDPE RESIN - POLYMERS OF ETHYLENE, IN PRIMARY FORMS. POLYETHYLENE HAVING A SPE MORTGAGE FOR USMAN MUSA DADDY PART PAYMENT FOR SCHOOL FEES- COLUMBIA INTERNATIONAL COLLEGE STUDENT TUITION MEDICAL ITEMS: BD VACUTAINER BLOOD REAGENTS & VACUTAINER NEEDLES - DIAGNOSTIC OR LABORATORY REAGENTS ON A BACKING, AND PREPARED DIAG MACHINERY FOR STORAGE AND REPRODUCTION OF ELECTRIC CURRENT (STATIC CONVERTER) - GENUS BRAND - BATTERY CHARGERS RAW MATERIAL FOR PHARMA INDUSTRY - ANTIBIOTICS. OTHER PHARMACEUTICAL RAW MATERIAL: METRONIDAZOLE POWDER BP - HETEROCYCLIC COMPOUNDS WITH NITROGEN HET OTHER MOTORIZED TRICYCLES IN CKD-TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION, ENGINE CAPACITY:200CC - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED BICYCLES IN CKD - SIMBA BRAND - BICYCLES AND OTHER CYCLES, NOT MOTORIZED, MACHINERY FOR STORAGE AND REPRODUCTION OF ELECTRIC CURRENT (STATIC CONVERTER) - LUMINOUS BRAND - ELECTRICAL TRANSFORMERS, STATIC CONVERTERS?; STATIC CONVERTERS MOTORIZED TRICYCLES SPARE PARTS - TVS BRAND - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED TVS KING 3 WHEELER SPARE PARTS - PARTS AND ACCESSORIES OF MOTORCYCLES FOR MOTORIZED TRICYCLES IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION, ENGINE: 200CC - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED MOTORIZED TRICYCLES IN CKD - TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION, ENGINE CAPACITY: 200CC - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED MOTORIZED TRICYCLES IN CKD-TVS BRAND, ENGINE TYPE: 4 STROKE PETROL VERSION, ENGINE CAPACITY:200CC - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED TVS STAR HLX 100CC (AGD) MOTORCYCLES IN CKD - TVS BRAND. ENGINE TYPE: 4 STROKE PETROL VERSION, ENGINE CAPACITY: 100CC - IMPORTED MOTORCYCLES AND CYCLES, IMPORTED 15,000 METRIC TONS OF PREMIUM MOTOR SPIRIT PMS(+/-10%) - MOTOR SPIRIT, SUPER USANCE CHARGES USANCE CHARGES USANCE CHARGES MEDICAL BILL FOR DOMKAT YAH BALI TUITION FOR CLEMENT OLUWATOSIN OGUNTI SCHOOL FEES FOR EMORDI EZRA USANCE CHARGES FORM A FOR LIVING EXPENSES IFO UCHENNA EMMANUEL IGWE ACCOMODATION PERSONAL HOME REMITTANCE PAYMENT FOR WHEAT WATER PUMPS - PUMPS FOR LIQUIDS, WHETHER OR NOT FITTED WITH A MEASURING DEVICE; BALANCE OUTSTANDING FOR CHIOMA OKAGBUE H00034732 SCHOOL FEES FOR EMMANUEL E IDEVA CALCIUM CARBONATE - CARBONATES; PEROXCARBONMATES (PERCARBONATES)?... CALCIUM CARBONAT SCHOOL FEES FOR CHIOKE EMMAUNELA TUITION FOR TOMISIN OGUNSANYA- STUDENT ID 2165334 MACHINERY TO PRODUCE INSTANT NOODLES - MACHINERY, NOT SPECIFIED OR INCLUDED ELSEWHERE IN THIS CHAPTER,FO USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES

DATE OF FUND PURCHASE

8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016

EXCHANGE RATE

315.50 315.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 244.50 260.50 255.50 244.50 280.50 280.50 280.50 280.50 280.50 280.50 285.50 285.50 285.50 285.50 285.50 285.50 285.50 310.50 310.50 310.50 310.50

AMOUNT

73,065.41 176,934.59 1,081.06 295.43 116.77 0.05 104.16 52.08 494.76 245,640.36 211,165.80 103,077.40 76,206.90 62,598.18 61,990.16 61,186.66 33,008.80 32,018.43 31,888.44 30,670.00 30,645.00 29,914.34 28,654.00 26,193.37 25,982.15 25,333.02 22,928.96 22,844.24 22,509.59 21,847.00 21,367.21 18,907.20 18,700.98 18,611.45 18,395.70 18,019.28 17,448.15 17,405.87 15,910.47 14,951.54 14,699.80 14,445.69 13,797.19 13,283.21 12,580.99 12,379.54 12,357.17 12,276.20 12,224.76 15,000,000.00 15,000,000.00 10,000,000.00 356,235.00 58,088.50 373,560.00 339,900.00 330,510.00 218,450.00 24,650.00 431,460.00 306,900.00 311,190.00 18,310.00 301,290.00 295,350.00 11.47 19.80 249.81 10,000.00

8/18/2016

310.50

64,000.00

8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016

310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50

50,000.00 672.25 1,971.41 5,216.11 60,782.82 1,180.00 12,313.67 2,124.64 7,758.80 2,377.03

8/18/2016 8/18/2016 8/18/2016 8/18/2016

310.50 315.50 310.50 310.50

89,217.18 172,590.00 24,312.00 125,688.00

8/18/2016 8/18/2016

315.50 315.50

85,921.82 94,022.00

8/18/2016 8/18/2016 8/18/2016

315.50 315.50 315.50

185,260.00 202,055.59 202,055.59

8/18/2016

315.50

282,750.00

8/18/2016

315.50

282,750.00

8/18/2016

315.50

282,750.00

8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016

315.50 314.44 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 275.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50

209,845.00 976,000.00 6,332.43 143.86 30.45 14,703.51 3,395.10 469.66 3.57 7.30 66.20 184.19 2,500,000.00 100,000.00 70.00 20,085.68 127,500.00 10,000.00 25,046.00 100,000.00 25,877.95 11,820.61 9,931.20 1,849.65 2,957.64 2,883.31 10,330.92 5,603.33 622.33 715.53 250.00 470.00 176.00 983.46 1,340.21 17.00 51.00 51.00 5,028.29 26.80 1,000.80

MONday, AUGUST 22, 2016 NEW TELEGRAPH 6 SN 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298

CUSTOMER

ITEM OF IMPORT

HAREFEILD INDUSTRIAL TREVI FOUNDATIONS LTD VEEPEE INDUSTRIES LTD TELEX,TELEGRAMS & POSTAGES USANCE GUARANTEE CHG USANCE GUARANTEE CHG USANCE GUARANTEE CHG USANCE GUARANTEE CHG DIGITAL MARKETING VISACARD GEN & MRS DOMKAT BALI USANCE LC CHG USANCE LC CHG USANCE LC CHG TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES TELEX,TELEGRAMS & POSTAGES BAMIDELE ADEMOLA ILUYOMADE BAMIDELE ADEMOLA ILUYOMADE TELEX,TELEGRAMS & POSTAGES ASHAKACEM PLC OLAM NIGERIA LIMITED (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF) DAG MOTORCYCLE IND NIG LTD (NDF)

USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES ADVERTISING FEES-GOOGLE INVISIBLE MEDICAL BILL FOR DOMKAT YAH BALI USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES USANCE CHARGES ACCOMODATION ACCOMODATION USANCE CHARGES USANCE CHARGES SHORT TERM LOAN BAJAJ BOXER-BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMPORT SPARE PARTS FOR BAJAJ VEHICLES - PARTS AND ACCESSORIES OF MOTORCYCLES FOR BAJAJ BOXER BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMP BAJAJ BOXER BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMPORTED MOTORCY BAJAJ BOXER BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMPORTED MOTORCYCLE BAJAJ BOXER BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMPORTED MOTORCYCLE BAJAJ BOXER BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMPORTED MOTORCYCLE BAJAJ BOXER BM100CC MOTORCYCLE IN CKD PACKED CONDITION - IMPORTED MOTORCYCLE

DATE OF FUND PURCHASE

EXCHANGE RATE

8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016

AMOUNT 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 310.50 244.50 285.50 285.50 285.50 285.50 280.50 280.50 280.50 280.50

783.00 38.00 639.62 107.22 96.00 20,125.00 14,075.56 7,027.78 100,000.00 144,122.96 3,395.16 3,117.73 165.43 1,175.25 742.00 64.58 149.76 0.41 6.79 17.02 91.55 5.81 198.39 2,000,000.00 395,231.00 167,810.29 711,415.00 711,415.00 711,415.00 711,415.00 711,415.00 711,415.00

100,460,779.23

RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY AUGUST 19,2016

S/N

SOURCE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100

OTHERS 1 OTHERS 2 OTHERS 3 OTHERS 4 OTHERS 5 OTHERS 6 OTHERS 7 OTHERS 8 OTHERS 9 OTHERS 10 OTHERS 11 OTHERS 12 OTHERS 13 OTHERS 14 DIAMOND BANK PLC IBTC ECOBANK CBN (NDF) CBN (NDF) CBN (NDF) OTHERS 1 OTHERS 2 OTHERS 3 OTHERS 4 OTHERS 5 OTHERS 6 OTHERS 7 OTHERS 8 OTHERS 9 OTHERS 10 OTHERS 11 OTHERS 12 OTHERS 13 OTHERS 14 OTHERS 15 OTHERS 16 OTHERS 17 SAIPEM CBN (NDF) CBN (NDF) OTHERS 1 OTHERS 2 OTHERS 3 OTHERS 4 OTHERS 5 OTHERS 6 OTHERS 7 OTHERS 8 OTHERS 9 OTHERS 10 OTHERS 11 OTHERS 12 OTHERS 13 OTHERS 14 CBN (NDF) CBN (NDF) CBN (NDF) CBN (NDF) CBN (NDF) CBN (NDF) OTHERS 1 OTHERS 2 OTHERS 3 OTHERS 4 OTHERS 5 OTHERS 6 OTHERS 7 OTHERS 8 OTHERS 9 OTHERS 10 OTHERS 11 OTHERS 12 OTHERS 13 MOBIL OIL NIG/NNPC CBN (NDF) OTHERS 1 OTHERS 2 OTHERS 3 OTHERS 4 OTHERS 5 OTHERS 6 OTHERS 7 OTHERS 8 OTHERS 9 OTHERS 10 OTHERS 11 OTHERS 12 OTHERS 13 OTHERS 14 OTHERS 15 OTHERS 16 OTHERS 17 OTHERS 18 OTHERS 19 OTHERS 20 OTHERS 21 OTHERS 22 CBN (NDF) CBN (NDF) CBN (NDF)

DATE OF FUNDS PURCHASED

EXCHANGE RATE AMOUNT 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/15/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/16/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/17/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/18/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016 8/19/2016

310.00 310.00 310.00 317.00 310.00 310.00 310.00 315.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 318.50 305.00 290.00 285.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 330.00 360.15 285.00 244.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 315.00 310.00 310.00 285.00 280.00 260.00 255.00 244.00 244.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 315.00 310.00 310.00 314.14 275.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 244.00 280.00 285.00

500.00 5,000.00 40.00 71,000.00 3,757.00 20,000.00 700.00 9,000,000.00 9,700.00 153.85 26,995.56 41,254.94 5,600.83 31,092.64 200,000.00 550,000.00 72,266.77 2,379,090.31 2,071,037.43 1,505,664.04 50,000.00 41,250.00 100,000.00 116.13 2,300.01 109,140.00 225,000.00 1,537.91 50,000.00 2,513.73 2,500.00 3,090.81 3,700.44 81,704.24 12,992.00 28,182.50 1,000,000.00 6,000,000.00 855,434.50 17,000,000.00 30,000.00 1,314.20 6,000.00 3,108.07 562.00 6,265.38 50,000.00 1,213.71 63,958.57 42,254.11 19,088.26 250,000.00 1,493.31 651.00 1,689,150.00 1,676,743.50 15,000,000.00 15,000,000.00 1,504,065.20 10,000,000.00 50,000.00 64,000.00 12,313.67 500.00 3,011.90 11,296.78 300,000.00 1,400.00 856.51 14,516.13 2,000,000.00 25,075.01 261.26 976,000.00 2,500,000.00 10,000.00 21,370.99 11,791.00 800.00 300.00 2,070.97 2,903.23 639.15 4,000.00 561,427.00 18,338.07 231.20 50,000.00 3,950.00 1,010.00 20,000.00 24,182.40 18,689.84 3,395.16 5,421.95 108.57 204.20 2,000,000.00 2,845,660.00 1,985,871.29

100,460,779.23

NEWS | national

monday, august 22, 2016 NEW TELEGRAPH

We don't know Chibok girls' whereabouts –Air Chief •As NAF clocks 2,600 hours in search of Chibok girls

Onwuka Nzeshi ABUJA

here seem to be no end in sight in the search for the missing Chibok Girls. The Nigeria Armed Forces has again revealed that it was yet to obtain any credible intelligence on the actual location where they were being detained by their captors. Some Boko Haram terrorists had on April 14, 2014 abducted the school girls from their hostel at the Government Girls Secondary School, Chibok, Borno State. More than two years after, Nigerian security agencies have been on their trail but has been unable to locate or rescue them. Chief of Air Staff, Air Marshal Sadique Abubakar, said that the non- rescue of the school girls was not for want of efforts and commitment but a function of absence of credible intelligence on their whereabouts. Abubakar, who spoke in a chat with newsmen at the weekend disclosed that while it was generally believed that the girls were being held hostage in Sam-

bisa Forest but neither the the ground troops of the Nigeria Army nor the reconnaissance aircraft of the Nigeria Air Force has been able to track them down to any specific location. According to him, the Nigeria Air Force aircraft on ISR ( Intelligence Surveillance and Reconnaissance) Mission clocked about 2,600 hours between January this year to 17th day of August, this year in search of the Chibok girls, all to no avail. He said the drones of the Air Force comb Sambisa forest on a daily basis with the hope of gathering intelligence, be able to capture the movement of these girls or locate legitimate targets. "Honestly, we don't know if the girls are still in Sambisa Forest. That is the truth of the matter. There is no day that the sun rises and sets that we don't go out hoping to see these girls. Even if you see people that are dressed in hijab in the forest, how are you sure they are women? The people can lure you to come in thinking that the girls are there but it is when you get there and they remove the hijab that you will now realise

that they have their rifles. There is no credible intelligence to tell you that the girls are there. But we are working round the clock to ensure that we locate them.” “Sambisa Forest is about 60,000 square kilometers. It extends even into Cameroun and that is why sometimes in the past, these terrorists could do whatever they liked and then sneak into Cameroun. But now, Cameroun is also hot for them and they are now coming back. You can see the difficulty involved in ensuring that

The percentage of the population of women above 60 years of Gambia in 2012. Source: Un.org

What they use for the IEDs, how many kilograms are we talking about? It is so insignificant. If you look at the clip, they positioned the girls there. Somebody even told me that he saw one of the girls even moving her head. "All I can tell you is that just looking at the way they did it, you can clearly see that it couldn't have been something that happened after an air strike. If you drop a bomb, there will be a crater. Where is the crater? If you drop a bomb, within certain meters radius of the point if impact, everybody there will be gone.”

Salary: NLC to apply 'no pay, no work' rule

he Nigeria Labour Congress (NLC) says all state councils where salary liabilities of up to three months exist would apply no pay, no work’ rule. NLC President, Ayuba Wabba, made this known when he featured on the News Agency of Nigeria (NAN) yesterday in Abuja. He said: ``We have given instructions to all of our state councils that where there is liability of salary up to three months, they should also apply the rule of `no pay, no work’

NATIONAL OBSTETRIC FISTULA CENTRE, ABAKALIKI INVITATION TO TENDER FOR THE EXECUTION OF 2016 CAPITAL PROJECTS refundable Tender fee of N20,000.00 (Twenty 1.0 Preamble Thousand Naira) paid into National Obstetric Fistula Tenders are invited from suitably qualified and Centre Abakaliki (Remitta Account) for each lot. competent contractors to submit documents necessary for consideration for the full execution of 5.0 Completed Technical and Financial proposals(three the remaining 2016 Capital projects. sets of hard copy and 1 soft copy) shall be submitted in two different sealed tamper proof envelopes 2.0 Description of Projects: and labeled ‘’Technical Proposal’’ and ‘’Financial Lot 2: SUPPLY/INSTLLATION OF LABORATORY Proposal respectively, and both placed in a third EQUIPMENT envelope. All the 3 nos. envelopes should bear Lot 3: SUPPLY/INSTALLATION OF EQUIPMENT FOR ‘’Project Name’’ and Lot No. at the Top Right Hand NEW THEATRE Corner of the Envelope and addressed to: Lot 7: PROCUREMENT OF PROJECT VEHICLE Medical Director, 3.0 Tender Requirements: National Obstetric Fistula Centre, All tenders must be accompanied with the following 86 Abakaliki-Enugu Expressway, documents/evidences: Abakaliki, Ebonyi State. i. Certificate of Incorporation/ Evidence of The documents should be deposited in the Tender registration with the CAC. Box at the Admin Complex of National ii. Evidence of Compliance/Remittance of Obstetric Fistula Centre Abakaliki. Company name contributory deductions from/to PENCOM. should also be written at the reverse side of the iii. Tax Clearance Certificate for 3 years (2013-2015). envelopes. iv. Evidence of VAT Registration with TIN No. v. Evidence of 2015 ITF Certificate/Remittance to 6.0 Closing date/time for all submissions shall be on 3rd October, 2016 (six weeks from the date ITF. of this publication) at 12.00 noon prompt. Late vi. Evidence of BPP Interim Registration Report submissions shall not be entertained. (IRP). vii. Manufacturer’s authorization from the approved 7.0 Technical Bid Documents shall be opened in public Manufacturers (where applicable). immediately following the deadline stipulated viii. Company Audited Accounts for the past three for the submission of bids at the Admin Complex, years (2013-2015). while the Financial bids of the companies that ix. Evidence of Technical Capacity and list of were successful in the technical bid evaluation shall registered professionals where applicable. be opened the same day. All Bidders and or/their x. Verifiable list of similar jobs successfully Representatives are invited to witness the public executed in the last three years (2013-2015). opening exercise accordingly. xi. Evidence of Financial Capability to execute the Projects. xii. Affidavit declaring the originality and For more information, please contact the Secretary Parastals Tenders Board. authenticity of all the documents. 4.0 Tender documents are obtainable from the Office of the Secretary of the Tenders Board Room 04 on presentation of a copy and original receipt of non-

we cover every square inch of that forest. We still fly over Sambisa Forest on a regular basis but you see, there are issues with the terrain. The terrain is very difficult, especially for the ground forces," he said. The Air Force Chief debunked the claims by the insurgents in their recent video that some of the Chibok girls have been killed during an air strike by the Nigeria Air Force. According to him, the video posted on the internet by the terrorist group was not a reflection of

truth but merely concocted to whip up sentiments from members of the public. "This is cheap propaganda. Even the IEDs that they developed, have you ever seen a complete body together after it has been detonated at any location? That is the crudest form of bomb but when you go there after an explosion, you don't see anything. Not to talk of a 250kg bomb.

Signed: Management, National Obstetric Fistula Centre, Abakaliki

it is not only `no work, no pay’. ``You can also apply the rule in a reverse order of `no pay, no work’ and that is legitimate because the law provides that after 30 days of working, the worker is entitled to be paid. ``How can we encourage people that have put in their best or even those that are still in the system trying to put in their best without addressing this very fundamental issue? ``Those are the situations we have found ourselves across states and across different employments; I feel very sad with that situation but I think we will do all we can within our means and power to try to continue to protect all those workers.’’ He said that workers must be seen as an asset to our country instead of shifting all the challenges to the workers. “The challenges have been there; instead of looking inward to try to

address these challenges, the bulk of the issue have been shifted to the workers and that is why I think that you can effectively say that yes, these workers are under attack.’’

Wabba said that NLC held a meeting with the state councils, where they took inventory of the liability of pension, gratuity and salaries, adding that the data was alarming.

Saudi releases Nigerian pilgrims arrested for drug offence Yekeen Nurudeen Abuja

wo Nigerian pilgrims arrested in Saudi Arabia over possession of substances alleged to be cocaine have been released, the National Hajj Commission of Nigeria (NAHCON), has said. A statement by the Commission issued in Abuja yesterday, said that the arrested pilgrims from Kwara State were released following investigation that they were not culpable for the offence. According to the statement, reports obtained from the Kingdom re-

vealed that the two suspects were set free after it was discovered that the allegation for which they were arrested was not correct. It would be recalled that two Nigerian pilgrims from Kwara State were arrested on August 9 and 12 over alleged trafficking of drugs into the kingdom. The identities of the two pilgrims affected have remained unknown even as anxiety has continued to grow in Ilorin, capital city of Kwara State among residents who have relatives performing this year Hajj exercise.

Contact lenses could damage your eyes –Report Appolonia Adeyemi

ealth officials in the United States (U.S) have raised the alarm on the improper use of contact lenses (CL) and warned it can lead to serious eye infections and long-term damage. The warning is contained in a new report from the U.S. Centres for Disease Control and Prevention (CDC), which was released at the weekend. The FDA regulates contact lenses as medical devices. A contact lens is a thin lens placed directly on the surface of the eye. CLs are considered medical devices and can be worn to correct vision, or for cosmetic or therapeutic reasons. In 2004, it was estimated that 125 million people use CL worldwide.

According to the World Health Organisation (WHO), approximately 90 per cent of visually impaired people live in developing countries. However, considering that globally, 80 per cent of all visual impairment can be prevented or cured, efforts to reduce poor vision are on at country and continental levels. According to the new report, nearly one in five contact lens-related eye infections reported to the U.S. Food and Drug Administration (FDA) over the last decade resulted in eye damage. The report reviewed 1,075 reported contact lens-related infections between 2005 and 2015. The patients in those injuries said they had a scarred cornea, needed a corneal transplant or suffered a reduction in vision.

According to the ‘Time’, an online news website, the CDC said, “More than 10 per cent of the reports patients sought emergency care..." , the Director of CDC’s Healthy Water Program, Michael Beach said, “Contact lenses are a safe and effective form of vision correction when worn and cared for as recommended. “However, improper wear and care of contact lenses can cause eye infections that sometimes lead to serious, long-term damage.” As part of the strategy to prevent damage including poor vision, the CDC further urged contact lens users not to sleep wearing contact lenses. “Always use fresh contact lens solution, and replace lenses often,” the statement added

MONday, AUGUST 22, 2016 NEW TELEGRAPH

NATIONAL YOUTH SERVICE CORPS DIRECTORATE HEADQUARTERS, ABUJA TENDER: INVITATION FOR SUBMISSION OF TECHNICAL AND FINANCIAL BIDS FOR 2016 CAPITAL PROJECTS 1.0 INTRODUCTION

The Management of the National Youth Service Corps (NYSC) in pursuance of its statutory functions and in compliance with Due Process requirement hereby invites competent and reliable contractors to submit bids for the execution of Capital projects for 2016 Financial Year.

2.0 Scope of works Lot 1. Construction of ten rooms Farm Corps Member’s Lodge at NYSC Farm Kwali, Abuja. Lot 2. Construction of ten rooms Farm Corps Member’s Lodge at NYSC Farm Iseyin, Oyo State. Lot 3. Construction of ten rooms Farm Corps Member’s Lodge at NYSC Farm, Saminaka, Yauri Local Government, kebbi state. Lot 4. Construction of ten rooms Farm Corps Member’s Lodge at Dungulbi, Bauchi State Lot 5. Procurement and Supply of five (5) nos. Ambulance Bus (2.7 litres petrol Engine, Standard Roof, A/C, 5-Speed Manual Transmission, Fabric Seat, Airbags, Radio/CD Player. Lot 6. Procurement and supply of Motor Cycle for inspection to all NYSC Zonal Offices. (Four (4) nos. Per zone). Lot 7. Procurement and Supply of Welding Machines. (Two (2) nos. Per State). Lot 8. Procurement and Supply of: (i) Barbing Clippers. (Four (4) nos. Per State). (ii) Mini Generating Set 1200 mgw. (One (1) no. Per State) Lot 9. Procurement and Supply of Aluminium Cutting Machine for all the State Secretariats. (Two (2) nos. Per State). Lot 10. Procurement and Supply of: (i) Knitting Machine. (Two (2) nos. Per State). (ii) Embroidery Machine. (Two (2) nos. Per State and One no. Each for the Two NYSC Garment Factories). (iii) Zigzag Machine. (Two (2) nos. Per State). (iv) Stitching Machine (One (1) no Per State). (v) Industrial Pressing Machine (Two (2) per State). Lot 11. Procurement and Supply of four Burner Gas Cooker and Cylinder to all State Secretariats. (One (1) no. Per State) Lot 12. Procurement and Supply of: (i) Microwave Public Address System. (Four (4) nos. Per State). (ii) Laptop Computers. (One (1) no. Per state and Ten (10) nos. For NDHQ SAED Programme. Lot 13. Procurement and Supply of Agricultural Equipments. (i) 3nos. Tractor (MF 2HP). (ii) 3 nos. Plough. (iii) 3 nos. Harrow. (iv) 3 nos. Ridger. (v) 3 nos. 6 Row-planter. (vi) 3 nos. Tool Box. Lot 14. Procurement and Supply of Recreational Facilities (OBS) (I) Public Address System (micro 707). (One (1) no per State). (II) Box Speakers (1300 B TWD). (One (1) no per State). (III) Horn Speakers (TH 660 100 watts). (Ten (10) nos. Per State) (IV) Amplifier (DA 550F). (Two (2) nos. Per State) (V) Wireless Microphone. (Two (2) nos. Per State) (VI) Mixer. (One (1) no. Per State).

(VII) Microphone Stand (One(1) no. Per State) (VIII) Speaker Cable. (One(1) no Per State) (IX) Microwave Public Address System (Four (4) nos. Per State). Lot 15. Procurement and Supply of Camera (5x5 OHS 24 – 1200MM) (One (1) no. Per State) Lot 16. Procurement and Supply of Printers (P2050 series) to the State Secretariats. (One (1) no. Per State) Lot 17. Procurement and Supply of Sprayer: (i) 3 nos. 40 litre Boom Sprayer. (ii) 7 nos. Knapsack Sprayer. (iii) 1 no. Multi-purpose Thresher. Lot 18. Procurement and supply of Two (2) nos. Hard Body Utility Van (2.7 Litres Engine Capacity, A/C, Air bag, Manual Transmission, Double Cabin, 4x4 4WD, Power Steering, Central Lock, AM/FM CD Player). Lot 19. Procurement, Supply and Installation of Four (4) nos. 100KVA Generating Set (Sound Proof). Lot 20. Procurement, Supply and Installation of Two (2) nos. Incubator. Lot 21. Procurement, Supply and installation of: (i) Two (2) nos. Rice Milling Machine. (ii) One (1) no. Rice Mill Dryer /Components. (iii) Two (2) nos. Steam Boiler. (iv) One (1) no. Destining Machine. Lot 22. Drilling of Four (4) nos. Industrial Borehole. Lot 23. Procurement, Supply and Installation of: (i) Two (2) nos. Pelleting Machine. (ii) One (1) no. Fish Feed Provilizer. Lot 24. Procurement of three (3) nos. Utility mini Truck. Lot 25. Procurement and Supply of Two (2) nos. Chiller and Auxiliary Equipments.

3.0 COLLECTION OF TENDER DOCUMENTS

Interested companies can obtain the tender documents from the Tenders Board Secretariat, Procurement Department, 3rd Floor Wing ‘B” Room 317, NYSC Directorate Headquarters, Yakubu Gawon House, Maitama- Abuja between 11:00am and 4:00 pm upon presentation of evidence of payment of a non – refundable fee of Ten Thousand Naira (#10,000:00) only, for each Lot at the Cash Office, 5th floor, NYSC DHQ, Maitama-Abuja.

viii. xi. x. xi.

5.0 SUMBISION OF TENDER DOCUMENTS

Bid documents must be spirally bound and dully signed on each page, the technical documents must be arranged in the order indicated in 4.0 (i-xi) above, completed bid documents should be in two separately sealed envelopes labelled ‘Technical “ and “Financial “(2 envelope system), both put in a bigger envelope clearly marked CAPITAL, the relevant lot number and addressed to: The Director-General, National Youth Service Corps, Yakubu Gowon House, 416 Tigris Crescent, Off Aguiyi Ironsi street, Maitaima-Abuja. Tender submission will close by 11:00 am on Monday 03th October, 2016 Companies submitting tenders most sign the tender register at the reception desk before dropping the tender into the box at the Tenders Board Secretariat, Procurement Department, 3rd Floor, Wing“B”Room 317, NYSC Directorate Headquarters Yakubu Gowan House, Maitama-Abuja. Incorrectly labelled and late tenders will be rejected.

6.0 OPENING OF TENDERS

4.0 TECHNICAL REQUIREMENTS Evidence of Registration with Corporate Affairs Commission (CAC). ii Company’s audited accounts for the last three (3) consecutive year (2013,2014 And 2015). iii Photocopy of Tax Clearance Certificate for the last three (3) consecutive years Covering (2013, 2014 and 2015) corresponding with declared annual turnover and profit of the Audited Accounts. iv Evidence of compliance certificate with the provision of section 6(1)(3) of the amended Industrial Training Fund with ITF Act of 2011. v. Evidence of current pension certificate of compliance with the Pension Reform Act. vi . Evidence of financial capability from a reputable bank. vii . Verifiable list of similar jobs successfully executed under a single contract in the Last five years with a monetary value of at least Fifteen million naira (#15,000,000.00). i

Comprehensive Company Profile with convincing proof of competence and Production capacity to undertake the job within the required time frame. Evidence of technical, operational and managerial staff with relevant work Experience in regards to the scope of work. Photocopy of Interim Registration Report (IRR) as evidence of registration on the BPP National Database of Contractors, Consultants and Service Providers. The sworn affidavit disclosing as follows: • That all documents submitted are not only correct but genuine. • That the Director (s) has/ have not been convicted by any Court of Law. • That the firms Director or the company is not bankrupt. • That non of NYSC or BPP Officer is a former or current Director of the company.

Opening of the bid shall commence immediately following the submission deadline at 11:00 am on Monday 03th October, 2016 at the Conference Hall, 6th Floor, NYSC NDHQ, Maitama , Abuja. Representatives of bidding companies and members of the public and civil Rights Organisations are invited to witness the Bid Opening Exercise.

7.0 GENERAL INFORMATION i ii iii

No company shall apply for more than one(1) Lot. Failure to fulfil any of the conditions in 4.0 (i-xii) above shall render an application invalid. The National Youth Service Corps (NYSC) shall verify the authenticity of evidence submitted by bidders with the relevant authorities. any company found to have Submitted forged documents will be prosecuted. Nothing in this advert shall be construed to be a commitment by the National Youth Service Corps, nor shall it entitle responding contractors to seek any indemnity from the NYSC by virtue of such contractors having responded to this advertisement / Invitation to tender. Signed

Management

MONday, AUGUST 22, 2016 NEW TELEGRAPH

MONDAY, august 22, 2016 NEW TELEGRAPH

Benue Ortom, Suswam in unending war

Politics

Nailing Jonathan to the cross

compensated in US dollars, cash. “The Niger Delta Avengers was born from the failure at the polls and would now be used as an organ to make the Buhari government inactive, bring economic hardship and cause hatred for the administration towards failure at the 2019 general election.”

The mission of a new militant group - Reformed Niger Delta Avengers is yet unclear, but its recent allegation that former President Goodluck Jonathan and some of his associates are behind the Niger Delta Avengers, seems to have pitted the immediate past leader against the present administration, Felix Nwaneri reports

he planned probe of former President Goodluck Jonathan and his wife, Patience, over his alleged link with a militant group – Niger Delta Avengers (NDA) by the Muhammadu Buhari administration, has added another twist to the crisis in the country’s oil-rich region. Jonathan, who lost last year’s presidential election to Buhari after his party’s 16-year unbroken rule has been accused of being behind the activities of a militant group that has claimed responsibility for most attacks on oil installations since March this year. The former president, who hails from the crisis rocked region, is not standing alone in the accusation of sponsorship of the Avengers. His wife, Patience, some officials of his administration and political associates, have also been linked to the militant group either as sponsors, members or sympathisers. Those alleged alongside Jonathan by a splinter group of the NDA - Reformed Niger Delta Avengers (RNDA) – include Governors Nyesom Wike (Rivers)

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Buhari and Jonathan in Aso Rock, recently

and Seriake Dickson (Bayelsa); former Akwa Ibom State governor and Senate Minority Leader, Godswill Akpabio; wanted exmilitant leader, Government Ekpemupolo (alias Tompolo) and chairman emeritus of DAAR Communications Plc, Chief Raymond Dokpesi. Others on a 22-member list released by RNDA are Tompolo’s media consultant, Mr. Paul Bebenimibo; former Director-General of Nigeria Maritime Administration Agency (NIMASA), Dr. Patrick Akpobolokemi; Niger Delta activist, Ms. Annkio Briggs; former presidential adviser on Amnesty, Kingsley Kuku; former National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh, among others. While the above mentioned have all denied any link with the Avengers, spokesperson of RNDA, Cynthia Whyte, had in a statement, said NDA was formed after the bid by the then PDP-led Federal Government to get the Movement for the Emancipation of the Niger Delta (MEND) – a foremost militant group in the region – to endorse Jonathan for the 2015 presidential election, failed. The statement read: “Like every sponsor, sympathizer and operative earlier mentioned, who has equally denied links with the Avengers, we can understand the wisdom behind their decision, as their participation was always meant to be covert. “After a clandestine meeting in 2014 between the grand patron and several unidentified persons,

The game plan of Jonathan and his associates backing the NDA was to cause enough economic damage

ahead of the presidential election campaign of 2015, it was agreed that the Okah brothers (Charles and Henry being held for terror acts in Nigeria and South Africa, respectively) should be contacted to reach out to MEND to endorse former President Jonathan and work with the group of persons to ensure victory for the PDP and Jonathan. “At the time, because MEND was the suggested tool, the NDA as a body was not yet formed. A meeting of some select top government officials was convened to visit Charles Okah and they reported back that they had visited him in Kuje prison at night with the promise of his release along with others should he cooperate to get MEND to endorse Jonathan. “It therefore, came as a shock when MEND did the opposite and endorsed Buhari. Dr. Jonathan was livid with anger and swore that the Okahs would rot in prison. Following the failure to get MEND's endorsement, they agreed that ex-militant leaders should put up a show of force in Yenagoa and threaten war should the electorate vote in Buhari's favour. “As election day approached, certain stakeholders were mobilised to form a force to ensure total anarchy in the South-South and South-East within 24 hours if the election results were not favourable to Jonathan. It took everyone by surprise to learn that Jonathan had conceded defeat, even before the results were released. The standby force, which was to attack specific targets were told to stand down. They were all

FG’s intelligence report While the RNDA spokesperson threatened more sordid details on the Avengers should its sponsors and operatives provoke the group with further denials of the revelation, the Federal Government is said to have ordered a discreet investigation of Jonathan and his wife over the matter. The government’s directive was hinged on what it described as “intelligence reports,” which established that some of the oil installations recently bombed in the Niger Delta, had actually been mined while Jonathan was in power by some of the militants and operatives known to be very close to him at the eve of the 2015 elections. A presidency source, who disclosed the directive last week to some newspapers, said the intelligence report showed that the former president met severally with the militants before the general election. He said: “The initial plan was to declare Niger Delta Republic after Jonathan’s electoral loss but the NDA members were taken aback when the ex-president conceded. “Findings confirmed that the ex-president and others being probed resuscitated the NDA plan when the Federal Government initiated a probe into the oil sector. “We suspect that the expresident is afraid that the way the investigation in the oil industry was going, he and his wife will be questioned. “The fact that some of the conditions put forward by the NDA, including not going after Government Ekpemuopolo Tompolo, and stopping investigation of all corruption probes, have confirmed some of the intelligence. “Intelligence report also showed that the evidence of the attacks of oil installations was planned before May 29. The NDA and other militants had mined these installations before the handover. “But following the probe of the oil sector, they were mandated to start detonating it. The mining was meant to be a Plan B should they be removed from Aso Rock. The plan then was to cause CONTINUED ON PAGE 14

MONday, AUGUST 22, 2016 NEW TELEGRAPH

RETURNS ON SOURCES OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 19-08-2016

S/NO.

SOURCE 1 ORDINARY DOMICILLIARY PURCHASED

DATE OF FUND PURCHASED 15-Aug-16

EXCHANGE RATE AMOUNT PURCHASED ($) 15,000.00 315.00

2 IMTSO

15-Aug-16

348.82

3,036.70

3 IMTSO

15-Aug-16

314.66

3,312.87

4 IMTSO

15-Aug-16

339.18

2,547.77

5 IMTSO

15-Aug-16

341.07

4,885.01

6 IMTSO

15-Aug-16

349.19

4,337.63

7 IMTSO

15-Aug-16

341.40

4,975.64

8 ORDINARY DOMICILLIARY PURCHASED

16-Aug-16

320.00

25,000.00

9 ORDINARY DOMICILLIARY PURCHASED

16-Aug-16

320.00

63,470.00

10 IMTSO

16-Aug-16

351.43

8,822.12

11 IMTSO

16-Aug-16

351.43

4,061.20

12 IMTSO

16-Aug-16

338.74

4,623.59

13 ORDINARY DOMICILLIARY PURCHASED

17-Aug-16

315.00

500.00

14 ORDINARY DOMICILLIARY PURCHASED

17-Aug-16

315.00

67.86

15 IMTSO

17-Aug-16

351.43

2,022.92

16 IMTSO

17-Aug-16

341.07

4,600.02 6,705,000.00

17 MOBIL PRODUCING NIGERIA UNLIMITED

18-Aug-16

314.14

18 ORDINARY DOMICILLIARY PURCHASED

18-Aug-16

320.00

318.29

19 IMTSO

18-Aug-16

351.44

1,750.36

20 IMTSO

18-Aug-16

341.36

3,874.36

21 ORDINARY DOMICILLIARY PURCHASED

19-Aug-16

320.00

8,501.84

22 IMTSO

19-Aug-16

323.63

4,998.94

23 IMTSO

19-Aug-16

351.43

4,118.16

24 IMTSO

19-Aug-16

331.69

4,412.54

25 EXPORT PROCEED

19-Aug-16

320.00

100,000.00 6,984,237.82

TOTAL

RETURNS ON UTILIZATION OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY, 19-08-2016 S/NO.

EXCHANGE RATE

AMOUNT SOLD ($)

1 GTX BDC LTD

CUSTOMER/FXPD/NON-FXPD

BDC SALE

15-Aug-16

344.78

23,095.62

2 GTX BDC LTD

BDC SALE

15-Aug-16

356.70

4,061.20

15-Aug-16

320.50

63,470.00

3 TERRATIGA LTD

ITEM OF IMPORT

ANIMAL FEED CONCENTRATE

DATE OF FUND PURCHASED

4 EXCEL BDC LTD

BDC SALE

17-Aug-16

356.70

5 EXCEL BDC LTD

BDC SALE

17-Aug-16

343.82

4,623.59

6 EXCEL BDC LTD

BDC SALE

17-Aug-16

346.19

4,600.02

BDC SALE

2,022.92

7 EXCEL BDC LTD

8,822.12

17-Aug-16

356.70

8 BENEDICT PAULA OLAITAN

EXAMINATION FEE

17-Aug-16

320.50

650.00

9 EKPO EDER PATRICK

EXAMINATION FEE

17-Aug-16

320.50

1,270.00

10 SOGA IYINTOSOLUWA

PTA

17-Aug-16

320.50

1,000.00

11 OGUNNOIKI OLUWATOSIN

PTA

17-Aug-16

320.50

2,000.00

12 ADEOLA ADEBANKE YETUNDE

PTA

17-Aug-16

320.50

4,000.00

13 OLAYIDE SANUSI IFO ADEBAYO AYODELE ADEMOLA

PTA

17-Aug-16

320.50

4,000.00

14 EQUIDEB BDC

BDC SALE

18-Aug-16

346.48

15 EQUIDEB BDC

BDC SALE

18-Aug-16

351.44

18-Aug-16

314.64

16 SWIFT OIL

UNLEADED GASOLINE(PMS)

3,874.36 1,750.36 6,705,000.00

17 EQUIDEB BDC

BDC SALE

19-Aug-16

336.67

4,412.54

18 EQUIDEB BDC

BDC SALE

19-Aug-16

356.70

4,118.16

19 EQUIDEB BDC

BDC SALE

19-Aug-16

328.48

4,998.94

20 STERLING BANK PLC

CHARGES

19-Aug-16

321.75

65.97

19-Aug-16

321.75

192.51

22 STARSONIC NIG LTD

CHARGES INDUSTRIAL ANCILLARIES MACHINE AND MOULDS FOR USE IN PLASTIC INDUSTRIES

19-Aug-16

320.50

15,280.00

23 STARSONIC NIG LTD

ASSORTED COLOURS OF MASTER BATCHES

19-Aug-16

320.50

42,360.00

24 STARSONIC NIG LTD

ASSORTED COLOURS OF MASTER BATCHES

19-Aug-16

320.50

42,360.00

21 STERLING BANK PLC

TOTAL

For further enquiries, please contact Sterling Bank Plc. Tel.: 014484481-5 or 014489470-94 E-mail: customercare@sterlingbankng.com www.sterlingbankng.com

6,948,028.32

Politics

MONDAY, august 22, 2016 NEW TELEGRAPH

Ortom, Suswam in unending war There seems no end in sight to the political battle between Benue State governor, Samuel Ortom, and his predecessor, Gabriel Suswam, over probe of the immediate past administration, Cephas Iorhemen reports

he unending political war between Benue State Governor Samuel Ortom and his predecessor, Dr. Gabriel Suswam bothering over probe of the eight-year tenure of the latter is gradually assuming a worrisome dimension as the various camps intensify verbal attacks at each other. Nobody, including members of the political class in the agrarian state ever expected that the once friendly relationship between the duo would turn sour because of politics. This is because of Ortom’s disposition while was contesting the governorship on the platform of the Peoples Democratic Party (PDP) before he switched over to the All Progressives Congress (APC). He told journalists then that “I don't have any problem with my governor (Suswam). He partly made me what I am today. He was behind my appointment as PDP's National Auditor, and my first N3 million came from him..." There was no doubt that the duo had a good relationship then until the last governorship election shattered the bond. Since then, it had been a cat and mouse scenario for the two Tiv sons. While Ortom could be said to be after his predecessor’s head following his (Suswam's) choice for Terhemen Tarzoor as governorship flag bearer of the PDP against Ortom who felt frustrated out of the party by Suswam, his action now is tailored towards a revenge mission to show the former governor his might. It would be recalled that Ortom became the National Auditor of the PDP before he was appointed as Minister of State for Trade and Investment, and subsequently as Supervising Minister of Aviation, while Suswam was governor of the state and one of the closest ally to former president Goodluck Jonathan. It was said that Ortom’s appointments were single-handedly influenced by Suswam, whose closeness to Jonathan, justified the claim. And until his coming to run for the governorship of the state, there was no crack in their relationship. Ortom accompanied Suswam to several state functions one of which was the commissioning of a water project in Konshisha Local Government Area of the state, where in his speech, he appealed to Suswam to relinquish power to him as he was the best person to do the job after him. Governor Ortom’s fall-out with

Ortom

Suswam is one development that shocked many political observers in the state. Ortom had during the campaigns described Suswam as a jolly good friend he cannot afford to lose because of politics. He narrated how Suswam influenced his political and economic growth, noting that his business was uplifted through financial assistance from Suswam. Despite these, Ortom dumped Suswam and the PDP shortly after the governorship primaries and defected to the APC. But before the conduct of the PDP primaries, there were calls from the APC, urging Ortom to defect and secure the ticket of the then opposition party. This was due to the fact that the APC in the state led by former Senate Minority Leader, George Akume, was not at home with the candidature of Barr. Emmanuel Jime, then member representing Makurdi/Guma federal constituency in the House of Representatives. This was how Ortom dumped PDP and switched to APC, secured waiver, got nominated as the party’s candidate for the governorship election and emerged victorious. With the election won and lost, another round of political ensued. This time, it was all about propaganda and the rate at which the APC unleashed on the defeated PDP, forced Suswam not to witness the swearing in ceremony of his successor and his consequent flee of the state barely 12 hours to Ortom’s inauguration. Suswam had few days to the inauguration of Ortom, donated to him assorted brands of Sport Utility Vehicles to enhance his movement. During the formal presentation of the vehicles at Government House Makurdi, Suswam explained that the donation was not in any way a trap but normal ritual hence, his predecessor Akume did same to him, when he assumed office as governor in 2007. He further requested Ortom to beckon on him any time there was need to offer explanations on state issues. But, Ortom, few days after assuming office, constituted a judicial

Suswam

Suswam has persistently insisted that the probe is a witchhunt and that the process is skewed

commission of inquiry-assets and funds recovery-headed by Justice Elizabeth Kpojime to probe the administration of Suswam from 2007 to 2015. According to the governor, “the probe was not personal but mandated by the people to verify the exact assets and financial status of the state.” A white paper released by the probe panel indicted Suswam and 51 others including corporate organisations of looting over N107 billion. Some aggrieved individuals, who claimed that they were wrongly indicted, dragged the government to court. One of them, a former permanent secretary in the Bureau for Local Government and Chieftaincy Affairs, Mr. Asen Sambe, has won his case. The other, a former Managing Director of Benue Investment and Property Company Limited (BIPC), Mrs. Bridget Sheidu, who the panel indicted of looting over N3.1 billion was penultimate week granted pardon as the state government admitted that she was wrongfully indicted. This, analysts said is a complete slap in the face of the panel in which the government had so much confidence in. Mrs. Sheidu, had swiftly denied soliciting for any pardon, saying it was Ortom that called her to say sorry. Ortom had forwarded the list of the 52 indicted persons including Suswam to the Economic and Financial Crimes Commission (EFCC) for prosecution. However, Suswam has persistently insisted that the probe is a witch-hunt and that the process is skewed hence it was not extended to his predecessor, Akume. While Suswam claimed to have left a debt of N9 billion, Ortom said preliminary investigation revealed that the actual debt profile of the state is N130 billion. “The Mike Iordye-led transition committee discovered that as at the time the administration of Ortom took over, arrears of pensions and gratuities stood at over N16.7 billion, arrears of salary were over N9.5 bil-

lion, while contractual obligation was N72.03 billion. It said commercial bank loans stood at N11.129 billion, CBN loans N585 million, state revenue bond N9.694, foreign loans N9.818 billion with judgement debts standing at N1.236 billion totaling over N130 billion.” Ortom stated. But Suswam in his reaction, said: “I left a debt profile of about N9.2 billion or there about and that is what I left behind and that is the bond that we borrowed. The debt profile of N130 billion or so as speculated is in the figment of the imagination of those who are saying it. But having said that, the current government has in few months borrowed over N15 billion at very exorbitant interest rates for the purpose of paying salary arrears and for starting government but that money is finished and now we have money borrowed at nine per cent single digit from CBN for N28 billion and put together in few months, the government had borrowed about N43 billion and it was just five months for a government that might spent four years. So I am wondering whether at the end of the day, there would be any space at all for the generation of Benue that are yet unborn.” The battle took another dimension when Ortom reversed all the last minutes appointments of his predecessor including the appointment of first class chiefs of the Tiv chiefdom. Yet, another phase of political feud between the duo is the recent ejection of Suswam from a residence located in the highbrow Lobi Quarters in Makurdi, which he (Suswam) claimed he bought from the state government several years ago. The assets recovery panel in conjunction with a Makurdi High Court revoked the purchase of the property, saying the procurement did not follow due process. Today, Ortom, whose name is literally translated at "the work man" is Benue's governor. He was overwhelmingly voted into power following the last minute issue of non-payment of salaries by that government. But it is unfortunate that the same issue has resurfaced under his administration and even worse, but the governor is making frantic efforts to pay workers despite the lean resources accrued to the state from the federation account. Perhaps, there is no doubt that the governor also ascended the throne with lofty ideas to create an impact into the lives of the people of the state but there are indications that his avowed campaign promises to the people appears to have hit the rocks due to what he termed empty treasury. “I met a deficit treasury coupled with the dwindling allocation trickling in from the federation account,” Ortom said. Of course, it was because of these challenges that informed the governor's decision to dedicate the entire state to God with a plea for Him “to restore Benue's wealth and glory which evil forces have destroyed in the past four years.” As the fight between the former political allies with no end in sight, the questions on the lips of the people of the state are: How far can the recovery of the looted funds go? Will any success be achieved in the probe? Will the state make any significant progress in the midst of its present financial status?

POLITICS

CONTINUED FROM PAGE 11

confusion if the 2015 presidential election did not go as expected, in favour of the then incumbent.” “However, when the former president surprisingly conceded the election to President Muhammadu Buhari, there was both disappointment and confusion in the camp of those who had designed the plan, causing a suspension of the whole agenda. “But by February this year, it was learnt, the plan was reopened as several of the backers were getting investigated on different corruption cases. Jonathan himself was concerned that he and his wife could be prosecuted, including on money-laundering charges where investigators said evidence against the wife has already been amassed.” The source further disclosed that “the game plan of Jonathan and his associates backing the NDA was to cause enough economic damage in order to force the Buhari administration to pursue a political solution to the corruption cases on which investigations were already advancing against them. This is to avoid prosecution and the attendant unprecedented shames of having a former president go to jail.” Avengers and their mission Who are the Avengers, many have asked. The group publicly announced its existence in March this year and has since then attacked oil producing facilities in the Niger Delta, causing the shutdown of oil terminals and a fall in Nigeria's oil production to its lowest level in 20 years. The attacks caused Nigeria to fall behind Angola as Africa's largest oil producer. The reduced oil output has hampered the economy as the country depends on earnings from crude oil sales for its revenue. The group’s declared aims are to create a sovereign state in the Niger Delta and have threatened to disrupt Nigeria's economy if their aims are not met. It also claims that its members are “young, educated and well travelled.”

MONDAY, august 22, 2016 NEW TELEGRAPH

Nailing Jonathan to the The group has also criticised President Buhari, for having never visited the oil producing region since he assumed power and his detention of the Biafran independence activist, Nnamdi Kanu. Jonathan’s denial While the former president was quick to distance himself from NDA, when the accusation was made the splinter Avengers group, he has once more denied any link with the group in reaction to the government’s intelligence report. Describing the allegation as libelous and disservice to Nigeria's image, Jonathan warned that those bent on promoting such allegations in the media are not only toying with libel but are doing a lot of disservice to the collective good and image of Nigeria. A statement by his media office, signed Mr. Ikechukwu Eze, read in part: “There is no doubt that there exist such people who may have scores to settle with the former president but are now feeling frustrated by the fact that his national and international profile has continued to rise, despite their recourse to endless muck-raking character assassination. Such people will stop at nothing to continue to throw obstacles, albeit futilely, on his path. “We are aware that the same people approached other wellmeaning newspapers with the same false information, but they were wise to turn it down on account of its absurdity. Our media houses should then be careful not to make the country a laughing stock by being hoodwinked into passing off the perverted voices of irritant groups as that of our well respected official and security authorities. Apart from toying with the serious issue of libel, those newspapers lending themselves to be so cheaply used by miscreants are also doing gross disservice to our collective good and the image of the country.”

Doubts persist Despite Jonathan’s insistence that he has nothing to do with the NDA, there are calls in some quarters for his arrest and consequent probe. An ex-militant leader, Israel Akpodoro, who belong to this school of thought, said the accusation against the former president is not a surprise as his group – National Coalition of the NIger Delta Ex-Agitators (NCNDE-A) held the view long before now. According to the Urhobo-born ex-militant leader, no amount of denial will convince Nigerians on Jonathan’s innocence because “the rascality of the then president played out at the collation centre where his kinsman, Mr. Godsday Orubebe, attempted to impede the electoral process in a coup allegedly orchestrated by those who wear many faces.” He therefore called on the Federal Government to invite reliable members of the splinter group, investigate the allegation through a commission of inquiry to ascertain the involvement of the former president and his associates. But a group, Coalition of Niger Deltans for Justice and Development (CNDJD), absolved Jonathan of any plot to destabilise Nigeria, saying the former President has proved himself to be meek and honest man with the unity and togetherness of Nigeria uppermost in his heart. “These dissatisfied and angry elements after their failed predictions are fanning ember of disunity, destabilisation, disintegration and liquidation of Nigeria. They are plotting to set Jonathan and Buhari on a collision course with consequence that could be monumental,” the group said.

am really amazed that such allegation could be given space in any newspaper. It is one of the mischievous allegations that I have heard in my political life. I opposed Goodluck Jonathan when he was in office as president for so many reasons but none included violence or tendency to be violent. I know that sometimes people don’t do what they preach but everybody knows that Jonathan repeatedly said that no office is worth the shedding of anyone’s blood. What he did by accepting defeat in the last election and the time he did it is unprecedented in Nigeria’s political history. I can add that it is unAfrican. His nobility, patriotism and statesmanship cannot be put to question. So, I think the man should

be allowed to enjoy his retirement. We know very well that members of the Movement for the Emancipation of Niger Delta (MEND) have not been happy with him because of the issue of the Okah brothers. And if you look at Jonathan’s stand on the matter, you will find out that he didn’t want anything that will break up Nigeria. These are the people who are now alleging that Jonathan is sponsoring the Avengers. This is an allegation in bad taste and should be condemned. I believe that nobody is above the law, so the relevant security agencies of government should do their investigations. But having to fly the kite first in the newspapers is condemnable. If a prima facie case is established against the former president, nobody will defend him because such act subversive but flying such kite on a personality like him even before the commencement of the investigation, doesn’t speak well of our image as a country.

Mrs. Jonathan

There exist such people who may have scores to settle with the former president

Who is after Jonathan? The arguments for and against Jonathan’s involvement with the militant group, notwithstanding, the questions over the spurious

Okorie: Allegation in bad taste Chekwas Okorie is the National Chairman of United Progressives Party (UPP)

Okah

allegation are: Who wants the noose on Jonathan’s neck and for what reason? What does the former president stand to gain if he sponsors a mission to cripple Buhari’s government? Is there any similarity between the allegation of Buhari sponsoring Boko Haram during Jonathan’s administration and the one against Jonathan? While only time will proffer answers to the questions, Jonathan is not unaware of the various plot to probe his administration, and some analysts say, linking him with the militants could be the easiest way to nail him. It was argued by those who hold this view that efforts to get some officials of the immediate past administration currently under probe for corruption and other related offences, including source of PDP campaign funds in the last election, to rope Jonathan in has not yielded the desired result. Premonition of probe Jonathan could be said to have had a premonition of what is

Ofehe: Jonathan can’t be behind Avengers Comrade Sunny Ofehe, a rights activist, is the Founder/ Executive Director of Hope for Niger Delta Campaign (HNDC)

t is very difficult to fully trust anyone but I am personally convinced that former President Goodluck Jonathan cannot be involved in the formation and activities of the Niger Delta Avengers (NDA). Many who know him very well can attest to his peace loving demeanor. I think the first thing we need to do is to look at the credibility of the source raising this allegation. What are the evidences provided by the source to show his involvement? It is one thing to level accusation and it is another thing to back the allegation up with evidence. So far there has been no such convincing evidence provided. We must not forget that it was the same

Jonathan who peacefully accepted defeat and called to congratulate the current president in the last election. He had all the powers and instrument of government as a president but yet ushered a smooth transition of government to his opponent. He currently has no political ambition and has not been involved in party politics since losing the election. Why will he be involved in militancy activities now? What does he stand to gain? So, we cannot rule out political bigots, who may want to use his name to destabilise the peace and security of the region. They could also be aggrieved political opponents or very close people trying to dent his international reputation. It could also be an unsubstantiated allegation to get cheap recognition. I don’t see why Jonathan will get himself involved in a militancy activity that will not benefit him in anyway. It is the duty of the intelligence agencies to investigate the allegation.

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MONDAY, august 22, 2016 NEW TELEGRAPH

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Tompolo

currently playing out, when he advised Buhari before leaving office not to single out his administration for probe. He said at a valedictory session of his cabinet that if Buhari must investigate him and his administration, he should do the same for past governments in Nigeria. His words: “Some people are even calling for the probe of this government. I agree that in Nigeria, there are a number of things that we will probe; very many things. Even debts owed by states and this nation from 1960 up to this time. They are saying it is Jonathan’s administration that is owing all the debts. “I believe that anybody calling for probe must ensure that these probes are extended beyond the Jonathan administration, otherwise to me, it will be a witch-hunt. If you are very sincere, then it is not just the Jonathan’s administration that should be probed. Probe limited to Jonathan’s govt Despite the “appeal” that the probe be extended to administrations before his,’ the Buhari government insisted that that it would only make sense to look

into the activities of the immediate past government rather than delving into all other past administrations. Presidential spokesman, Femi Adesina, said “it would be a distraction to begin digging into all former administrations but for a proper takeoff of President Muhammadu Buhari’s government, there is the need to look into the immediate past government.” He, however, made it clear that the probe is not a witch-hunt, as only persons who looted the country’s funds would be made to return such loots, adding that Buhari will not waste time in probing the administrations of former President Olusegun Obasanjo, Abdulsallami Abubakar, Sani Abacha and Ibrahim Babangida. Setting precedence The probe of Jonathan’s government has set a precedent as no former leader has been compelled to answer to questions on his stewardship. Perhaps, the only time Nigerians witnessed an attempt in that direction was in 1984 after the fall of the Second Republic. Interestingly, it was a Buhari-led military regime that arrested and put to trial, key actors in that dispensation. Some of those tried bagged jail terms running into hundreds of years. A similar attempt by the Obasanjo, who set up a committee to study the report of the Pius Okigbo-led committee on the $12.4 billion Nigeria earned from crude oil sales during the 1991 Gulf War and how it was managed by the Babangida regime, ended in a fiasco. Since then, only a handful of former governors had been forced to render account for how they managed the peoples’ commonwealth either through inquiries initiated by their respective successors or in most cases, the two anticorruption agencies – Economic and Financial Crimes Commission (EFFC) and Independent Corrupt Practices and other related offences Commission (ICPC). But, in what seems a break from the past, where a president comes to power and overlooks actions and inactions of his predecessor, President Buhari, who is known for his hard stance on corruption, is probing his predecessor (Jonathan). The question against this trump up charge is: Will Jonathan trail the path of Obasanjo, who was jailed by Abacha over the former’s alleged participation in an aborted coup based on testimony obtained via torture?

Aduwo: Ex-president, a democrat to the core Mr. Olufemi Aduwo is the Executive Director of Rights Monitoring Group (RMG)

t will be difficult for any government to prove that Jonathan or his wife is the founder and sponsor of the Niger Delta Avengers. We know that no one is above the law but we must be very careful with insinuations. Don’t forget that those who brought up this issue that Jonathan is the founder and sponsor of the Avengers is a splinter group from the criminal militant group. For me, Jonathan has no reason to sponsor militancy because the question would be: Why did he surrender power even before the result of the 2015 presidential election was concluded? I believe he is a democrat to the core, so he has no reason at all to be engaged in such thing. But if government through its own verified investigation found out that

some people are sponsoring the NDA, they should be dealt with. When it comes to the issues of insecurity, terrorism and militancy, we should be careful of how we point accusing fingers. I recall that President Muhammadu Buhari was attacked in Kaduna by the terrorists sometimes ago. For me, that incident confirms that Buhari cannot be behind the sect. When we have an issue to resolve as a nation, we should not allow political colouration to dent our sense of judgement. We must face it squarely and address the matter. I can say that the breakaway faction of the NDA is only looking for government patronage. That is why I have always been saying as a Niger Deltan, this issue of Amnesty in the region should be scrapped because it allowed the lazy and indolent to be collecting money they don’t work for. There are many ways the government can handle the issue of Niger Delta because its only some few criminals that are making money at the detriment of the people.

Burubo: Ex-president should be commended Pastor Victor Burubo is the National Publicity Secretary of Ijaw National Congress (INC)

e debunk the allegation against former President Good luck Jonathan by a breakaway group of the Niger Delta Avengers that he is the sponsor of militant group. The allegation is a lie because Jonathan is an accomplished statesman. For the sake of the ordinary Nigerians, he surrendered power even though there was not yet a confirmation that he lost election because he said his ambition does not worth the blood of any Nigerian. How can such a man who made such promise a kept to it turn around to sponsor militancy?

We believe that enemies of this country and that of Ijaw people have been trying everything they can since he left power to tarnish Jonathan’s image but they will not succeed. The man has simply refused to answer them because he knows that the truth will vindicate him. Why would Jonathan sponsor militancy when couldn’t do it when he was in still in power. He could have suspended the election. He could have voided the election. We were in this country when an election was annulled and nothing happened. Jonathan didn't do all these because he is a democrat who fears God and respects the people of Nigeria. Therefore, he should be commended and not vilified. We feel that some revisionists are out demonise Jonathan but nobody can turn light to darkness.

Okon: Nigeria must appreciate her patriots Ntufam John Okon is immediate past chairman of the Peoples Democratic Party (PDP0 in Cross River State

r. Goodluck Jonathan is a very mature and humble fellow and he cannot associate or be associated with the activities of the militants in the Niger Delta. I have worked with him for some years and I know that he is too refined for that kind of association. Now, what exactly would he want to gain now that he would not have gained if he had decided not to congratulate President Muhammadu Buhari, then candidate of the All Progressives

Congress (APC)? It is unfair to associate a man who willingly handed over power to the present administration of trying to use militants to frustrate the current government when he had the military at his disposal and could have rejected the results as announced by the Independent National Electoral Commission (INEC) and damned the consequence. We must learn to leave politics behind and appreciate our patriots, people of peace who want a united Nigeria. Having been the president of the county, and being the simple, humane and peaceful person that he is, there is no way former President Jonathan will subscribe to violence, let alone attempt to frustrate the Federal Government or create chaos in a country he had ruled.

Omare: Report on Jonathan fictitious Eric Omare is the spokesman of the Ijaw Youth Council (IYC)

irstly, let get a few points clear. There is no such intelligence report anywhere. The so-called intelligence report only exists in the figment of the imagination of the authors of the news item and the editors of the different newspapers who carried the said news. There is no iota of truth in the said story and it is even nonsensical. It is not something that even deserve the time of any serious minded person. However, we must state clearly that what the authors are trying to achieve is to lay a foundation for some mischievous actions that they want to take but we are watching. What is happening is that there

are some leading politicians from the Niger Delta in the ruling party and government who do not want a peaceful resolution of the renewed militancy, so they create all sorts of confusion just to make things look complicated. The genesis of these frivolous accusations against former President Goodluck Jonathan started after he visited President Muhammadu Buhari a few weeks ago and after the meeting while speaking with the media, he said that everybody desire peace ad that the leaders of the Ijaw nation are working hard to achieve peace in the Niger Delta region including himself. This did not go down well with these party chieftains and political officer holders in the Federal Government, who are from the Niger Delta region because they don’t want a peaceful resolution of the crisis and secondly, they don’t want Jonathan’s intervention to resolve the crisis for obvious political reasons.

Etta: Avengers, a creation of PDP Hilliard Etta is the Deputy National Chairman (SouthSouth) of the All Progressives Congress (APC)

“I

f you go through the communiqué released by the leaders of the South-South All Progressive Congress (APC) either in April or May in Benin, you will discover that it accused the

Peoples Democratic Party (PDP) of creating the Niger Delta Avengers, and we stand by it. Neither the South-South nor the national leadership of the party has accused former President Goodluck Jonathan of sponsoring the Avengers. That is left for the security agencies to investigate. However, we have said it before and we are saying it again that Niger Delta Avengers is actually the creation of PDP and this is for security agencies to unveil.

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

Opinion

Tonic for national reconciliation (2) Dominik Umosen

ost often than not, that an idea will be successful does not depend on mystery but because it was facilitated into success by its sheer timeliness. It is just like the intrinsic timeliness of an appeal now to the consciousness of federating nationalities in the country to intensify and bolster unity among them in line with the original vision of brotherhood and national unity that was prescribed by the country’s founding fathers. As we noted in the introductory part of this exercise last week, any mobilization in this regard is more likely to succeed perhaps more than it should have succeeded because in terms of timeliness and coming at the right time, the National Youth Impact Conference, a platform convened by Lagos cleric, Pastor Bassey James has got everything for it. Every Nigerian, including supporters and critics of the administration, is united in te consensus that apart from the 30-month civil war that ended in 1970, there has been no extended period of stress or tension over-hang in the polity than this time. Avoidable tension inspired by perceived injustice has drawn the polity beyond that, leading to calls for the re-structuring or reformation of the Nigerian behemoth by those who feel, whether rightly or otherwise, that they have been short-changed by the system. While some of these claims are valid and legitimate, others are contestible but there is no controversy in the fact that a basic dissatisfaction among the federating nationalities has consistently prevented the country from evolving and maturing into nationhood, over 50 years after independence from Britain.

There is little or no sense in dwelling on an incontrovertible and transparent fact as this. Still, it can be said that much of the tension that is straining the polity could have been avoided. It was possible for the Federal Government to have avoided this groundswell of multi-dimensional tension in the polity that has prompted many prominent citizens, including former president, Chief Olusegun Obasanjo to cry out that there has never been greater division and disunity among Nigerians than now. Bringing back to the table the original vision of national unity prescribed by the founding fathers has therefore been made more compelling by the model of mobilization of citizens for this desired objective as recommended by James. Engaging this critical but largely neglected segment of the population under the National Youths Impact Conference will not only glamourize the attainment of a consistently-elusive national objective but will also fast-track the process. As the convener himself insists, the notion that all you required to qualify as a youth is the capacity to be a trouble-maker is not only misleading, it is also outdated, given the invaluable contributions of young Nigerians in all spheres of life. Although it might be hasty to dismiss or downplay the relevance of the older generation, the contribution and input of the older generation to the non-realization of the Nigerian dream can equally not be discountenanced. For example, the story about how a visionary young Nigerian saved his country from avoidable national embarrassment in far-away Rio de Janeiro will eventually be told the president. Although vehemently denied initially by self-serving sports ministry officials who invaded the ongoing Olympic Games in Brazil

Mikel Obi brought out his personal money to motivate Nigerian athletes

with girl-friends and relations, Chelsea FC attacking mid-fielder, Mikel Obi brought out his personal money to motivate Nigerian athletes when officials resorted to their traditional politics and unnecessary fiddling with the legitimate allowances of athletes. The attitude of some Nigerian sports ministry officials has validated my enduring argument that many of his lieutenants do not share or subscribe to the war against corruption or change waged by the president and his administration. Many only pretend and will seize the slightest opportunity to slide back into the old and discredited way of doing stuff. The president would have learnt by now that some soldiers and policemen fought and shot at each other over food items donated to Internally Displaced Persons (IDPs) in Maiduguri by Africa’s richest man, Alhaji Aliko Dangote. I also urge him to demand the details of disbursement of the one million United States of American dollars donated by the Bill and Melinda Gates Foundation to displaced persons in Borno State before the money disappears into a maze that has already been erected by an itchy fingered generation. It appears that morality collapsed with the same sensational speed of fracture of the original vision of brotherhood and national unity among federating nationalities that was specifically recommended by the founding fathers. That is why the administration should support and encourage James in his commendable attempt to deploy the energy and resourcefulness of youths to confront these formidable challenges. If Nigerians have never been more divided and disunited than now, any platform that bridges this divide should be supported and encouraged by the Federal Government. •Umosen (dominik.umosen@gmail.com) wrote in from Lagos.

Okorocha’s back-to-land policy Jones Onwuasoanya

come from a State where my Governor, though elected through the ballot boxes, acts like his office is an inheritance which no one can take away from him, and his actions are mostly determined by what he thinks and possibly at the spot, without giving a hoot as to what happens after. Call my Governor, the ‘Impulse Governor’ and you may not be completely wrong. A leader who takes the people under his care for granted, will wake up one day to see himself being dragged to the gallows by the same people. It is important for a leader that he understands that he is there by the goodwill of the people, and by some degree of good fortune, not because those he has been appointed to lead are subhumans to him. Owelle Rochas Okorocha had said it several times that he is a no respecter of due process, arguing that due process delays governance. His Chief Press Secretary, Mr. Sam Onwuemedo took it a step further by telling a live radio programme that the administration he serves cannot afford to obey everything the Constitution says or abide by every pronouncement of law courts, because that would make it difficult for them to do many things. I have not heard that the Imo State House of Assembly summoned the

Governor or his Chief Press Secretary for questioning over such a terrible disavowal of democracy, and this failure on the part of this arm of our government drives home the tragedy of leadership my people have found themselves in. I called into the radio programme on the day the Chief Press Secretary made this unfortunate statement and reminded the Chief Press Secretary and the Governor that they are some of the biggest beneficiaries of democracy and Constitutionalism. The election of the Governor and his subsequent swearing in could not have happened if those who lost out as a result of that did not obey the Constitution. From just granting an interview to some journalists in which he was quoted as ‘recommending’ that civil servants across the nation should have their work days pruned down in order to cut cost, the Governor issued a statement just two days after, directing civil servants in the State to take two days off every week, in order to have time to engage in farming or any other private business. By this directive, civil servants in the State are supposed to be at work from Monday to Wednesday every week, while the remaining two working days of Thursday and Friday are to be used by the civil servants to go to their farms in line with the State government’s policy of encouraging agricultural development. The policy of having civil servants

come to work from Mondays through Friday from 8:00am till 4:00pm or more as the case may be is not a mere verbal pronouncement or a policy that came from issuing press statements. This is something that has to do with the laws of the land. The Federal and State Civil Service Commissions, who are charged with the responsibility of creating and implementing rules and regulations for all Nigerian workers, are creations of the Constitution, and before any part of the rules they have set out can be altered, it has to go through the normal processes to amend such laws. I do not believe that any part of the Nigerian Constitution is cast in rock, such that it cannot be changed, but any person, no matter how lowly or highly placed who does not feel comfortable with any part of the laws should know how to go about correcting such laws or provisions of the laws. This directive is one of the several affronts on the legislature by Governor Okorocha. Someone once told me that the Governor runs the State like there is no one in it, and I think I am beginning to chew that statement more seriously than I ever thought I would. To be sure, I am for reforms. I do not believe that things should continue being the way they have been just because they have always been that way. Whatever has to be done to ensure good improvement in our economy and to improve the living standard of the common man should be seriously pursued,

I am also in support of reforms and policies of government that ensure optimum productivity on the part of the Nigerian workforce. However, any reform that intends to sidestep the Constitution of the Federal Republic is not only antidemocracy, but also anti-people, because the people are protected by the Constitution. If a Governor can wake up one morning and decide to make pronouncements that are not in tandem with the Constitution, then, what makes such Governor think that the citizens will not borrow a leaf from him someday and take actions they feel are right and exigent, without deference to what the laws of the land says about such actions? Imo workers have been dribbled many times before now, so, no one should be surprised at the speed with which they rejected this directive from the Governor. The writers of our Constitution understood that civil servants need some spare time for farming and other private businesses, hence, the idea in leaving Saturdays and Sundays as work free days, while civil servants are also entitled to one month annual leave and seven days casual leave. These are enough for civil servants to engage in anything they wish to engage in, to augment whatever they are getting from the government. • Onwuasoanya wrote in from Owerri.

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For a polio-free Nigeria

igeria’s laudable efforts to eradicate the polio virus were dashed recently with news that two new cases were reported in Jere and Gwoza local government areas of Borno State. This setback was recorded after the country had clocked two straight years without a new case of an outbreak of the debilitating wild polio virus. Nigeria was also removed from the list of polio-endemic countries in July 2015, leaving Afghanistan and Pakistan in the odd group that had 125 members as at 1988. Last month, on the occasion of Nigeria’s second year without any outbreak, President Muhammadu Buhari had in a joint statement with Nigeria’s development partners expressed much joy that Africa and the world were getting closer to eradicating the “devastating disease.” The statement did not go without a caveat: “But our job is not yet done. We must protect the gains we have made and stay on course to tackle the challenges that remain on eliminating polio for good.” It was just as well that Nigeria took the advice of its development partners seriously otherwise the fresh outbreak may have gone unnoticed. Interestingly, the fresh outbreak was recorded within the North-East, where the development partners had called for surveillance. Acting World Health Organisation Representative for Nigeria, Dr. Rex Mapazanje, had on the occasion of the two-year feat warned that Nigeria must remain vigilant, especially in the areas of the North-East mostly affected by the Boko Haram insurgency as well as neighbouring countries of Cameroon, Chad and Niger. It is salutary to note that with the new

discovery, all hands have been on deck to set the train back on the desired route to total polio eradication in Nigeria. Already, an emergency polio vaccination programme has kicked off in Borno State and is intended to reach one million children immediately. In the next few months, the vaccination campaign will increase the number to five million children across three more states. A report by Reuters says the emergency campaign will extend to children across the Lake Chad region, comprising parts of Nigeria, Niger, Cameroon and Chad. Thousands of volunteer community mobilisers will educate families on the importance of immunisation and inform them on when and where to have their children vacci-

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sect by the Nigerian government and its North-Eastern neighbours. The significant military successes recorded by these governments have made it possible for health officials to reach thousands of people trapped in areas hitherto under the sect’s control. The Nigerian military needs to be commended for liberating many communities and giving new hope to their beleaguered inhabitants. Also, the commendation must extend to local and international NGOs and aid agencies, whose personnel risk their lives to reach dangerous areas where insurgent activity

The minister had said that the risk of spreading was as a result of population movement

nated, the report added. “These people are coming from communities that have not been reached in three years due to the conflict in the North-East,” said Mohammed Ibrahim, UNICEF Programme Officer for immunisation in Borno State. “The crowded conditions in the camps make diseases spread faster, and this puts children at higher risk of polio infection,” he said. The report notes that teams of vaccinators are already working in Internally Displaced Persons’ camps, which are home to tens of thousands of people.  It must be noted that the polio eradication efforts would not have yielded much dividend in the North-East without the degrading of the Boko Haram

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has been reported. Some of these aid workers have even lost their lives. However, the warning by Nigeria’s Minister of Health, Prof. Isaac Adewole,

that the virus could reach other states must not be tricked with. While giving an assessment report to journalists and stakeholders on August 17 in Abuja, the minister had said that the risk of spreading was as a result of population movement within and around Borno State and neighbouring countries. Adewole particularly pointed out that the new cases came from areas where security was lax and the people had limited access to health services.  Thankfully, the minister said he had already approved a review of the polio virus outbreak response plan put together by the National Primary Healthcare Development Agency and its partners. Outlining his Marshal Plan, the minister

said: “The response plan includes five rounds of polio campaigns, three of which are focused on 16 Northern states and two to be conducted nationwide. These campaigns will be synchronised with the affected regions of Chad, Niger and Cameroon.” Giving specifics, the minister said no fewer than 57 million children would be vaccinated between October and November 2016 while the military was providing security for immunisation volunteers in volatile areas.  With the renewed determination by Nigeria and its regional and development partners to eradicate the virus, all hands must be on deck to remove the nation from the odious list finally. Also, efforts must be made to improve the conditions in IDP camps to guard against the emergence of the virus. Words must be matched with action in the drive to kick polio out of Nigeria. Government should also enlist the support of religious organisations, clerics and traditional rulers to ensure maximum cooperation by all Nigerians. The regular awareness campaigns should go beyond mere jingles to serious sensitisation on social media and the regular media. Politicians, civil rights activists, women organisations and advocacy groups should be enlisted in the campaign. The National Orientation Agency should deploy its resources in this forum, using as many languages as possible. The task must not be left to only the Federal Government and a few enthusiastic states but must be embraced by all state governments. Every Nigerian must see himself or herself as a stakeholder in this campaign to eradicate polio from our shores.

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Is padding an offence? Lawyers say no, yes. TUNDE OYESINA and AKEEM NAFIU report

ot a few Nigerians were shocked when the immediate past former Chairman, House of Representatives Committee on Appropriation, Hon. Abdulmumin Jibrin, accused four principal officers of the lower chamber of ‘padding’ the 2016 budget to the tune of N50billion. The issue of whether or not ‘padding’ is an offence known to law has also elicited divergent views from members of the Bar. Following his removal as Chairman, House of Representatives Committee on Appropriation, Jibrin had accused four principal officers of the house of ‘padding’ the 2016 budget to the tune of N50billion. Those fingered by Ji-

FOLUSO OGUNMODEDE JUDICIARY Editor

foluso.ogunmodede@ newtelegraphonline.com

brin are; House Speaker, Hon. Yakubu Dogara; Deputy Speaker, Hon. Yusuf Lasun; House Whip, Hon. Alhassan Ado Doguwa and the House Minority Leader, Hon. Leo Ogor. Already, the Economic and Financial Crimes Commission (EFCC) has intervened into the matter following the submission of a petition by Jibrin. The Kano lawmaker was subsequently invited by the commission to defend the allegations. He had earlier been invited by the Police for questioning. The All Progressive Congress (APC) had also stepped into the crisis by inviting separately, both Speaker Dogara and Jibrin for their alleged involvement. However, the four principal officers accused of ‘padding’ the budget had at different fora denied the allegation. But, Speaker Dogara had siad padding the budget was not an offence known to law. For two weeks, Nigerians who were hearing about the word ‘padding’ are worried by Dogara’s defence of the alleged manipulation of the 2016 Budget in the face of the nation’s ailing economy. Lawyers also were not different as they were pitted against each other on whether padding of the budget was actu-

Jubrin

ally a criminal offence. While some echoed Dogara that padding was not an offence, others disagreed. Dogara, while fielding questions from newsmen after his meeting with President Muhammadu Buhari hadsaid ‘padding’ is not an offence known to law. He said that in all his years at the House of Representatives, he had not come across anywhere in the legislation of the country where ‘padding’ was regarded as an offence. Is padding an offence? Lawyers say no, yes. Six Senior Advocates of Nigeria and five other senior lawyers, who spoke to New Telegraph held divergent views. The lawyers, Chief Mike Ozhekome, Yusuf Ali, Sebastine Hon, Ahmed Raji and Godwin Obla, all Senior Advocates, believe padding was not yet a criminal offence. But Chief Adeniyi Akintola (SAN), Monday Ubani, Malachi Ugwumadu, Dr. Tunji Abayomi, Dr. Clem Ighodaro and Kayode Ajulo, differed. For instance Ozekhome said “it is interesting to hear about allegations of ‘budget padding’ at the House of Representatives. Can there really be padding of a budget within the precinct or hallowed green or red chamber, where such figures have been introduced, debated and agreed upon? I think not.” According to him, “padding occurs

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at the executive level where the budget is worked upon. If it ever occurs at the legislative level, in the negative sense in which it is being bandied, then it must be shown that unauthorized external additions, subtractions and multiplications were smuggled into the budget during the journey of transmitting same to the president from the National Assembly, after a harmonized version had been duly passed at plenary and distilled into a bill. Otherwise, the real business of the legislature on budgetary matters is nothing but ‘padding’. This is because the cumbersome process of rewriting, altering, amending, rejigging, adding to, subtracting from, replacing and multiplying figures, heads, sub-heads, projects, incomes and expenditures on a budget already worked upon and presented to it by Mr. President, is nothing but padding”. He went on: “Section 81 of the 1999 Constitution mandates the President to prepare and lay before each house of the National Assembly, estimates of the revenue and expenditure of the federation for the following years, in a bill called the appropriation bill. Where this is insufficient, Section 81(2) provides for supplementary appropriation bill. “Furthermore, by virtue of Sections 59, 80, 81 of the Constitution, it is only the National Assembly that can appropriate funds to the estimates and plans presented by the Executive or authorise funds to be spent from the Consolidated Revenue Fund. The meaning of this is that the Executive epitomised by Mr. President can never spend money without the approval of the National Assembly. “However, the Constitution itself in furtherance of the doctrine of separation of powers, ably espoused by French Political theoretician, Baron de Moutesque in 1748, has made it clear, that the appropriation bill regarding the projected revenue and expenditure must originate from the Executive and not the Legislature. Consequently, although the National Assembly has the last say as to whether or not funds should be allocated to a particular project, or whether such estimates are indeed, sufficient or not, it does not originate the bill. “It must be conceded however, that at the time appropriations are being made by the Legislature, the rough estimates may need adjustments or re-adjustments, where it is discovered that the initial estimates by the Executive regarding approval of funds is realistically inadequate. Where for instance, the National Assembly has cause to believe that a particular estimate falls short of what is required in the budget, or that a particular head has been over-bloated by estimates, it may ‘suo motu’, increase or decrease such amount as initially proposed by the President. It may even altogether cancel and refuse to allocate any fund to such if it believes that such project is a white elephant or is not of priority. “Where any of the scenarios painted above occurs, the president is helpless about it. Even where the CONTINUED ON PAGE 24

20 Law|Interview

monDAY, august 22, 2016 NEW TELEGRAPH

Ojo: Why NJC must end conflicting verdicts He defended a former Chief Security Officer (CSO) to the late General Sani Abacha, Major Hamza Al-mustapha until his discharge and acquittal on criminal charges. Johnson Olalekan Ojo bares his mind on conflicting judgements, budget padding, Bola Ige and others murder cases and sundry issues. JOHN CHIKEZIE reports As a senior member of the Bar, how would you look at the conflicting judgments emanating from the Federal High Court, Abuja and the Port-Harcourt on leadership crisis rocking the Peoples’ Democratic Party (PDP)? I mean, what does this portend for our judiciary? Well, legally speaking, these courts or judges are judges of concurrent jurisdiction. Each judge is entitled to decide any case the way he or she understands it. But there is a situation where there is the need for caution. For example, it does not augur well for the legal profession if conflicting judgments, contradictory judgments emanate from the same Federal High Court; there is a need for caution. It is most undesirable and it is a harbinger of unnecessary and avoidable chaos or confusion in the system. It is not good. It is a most curious thing and everything should be done to avoid it. It is not healthy for the democratic governance which we are operating in Nigeria, it is most undesirable to say the least and it is disappointing. What is your assessment of this administration’s fight against corruption? Would you say it is selective as being said in some circle? I do not agree that the fight against corruption is against the opposition. It must be remembered that the so called opposition was in power for about 16 years. It is therefore inevitable that the members of the PDP, the party that has been in power should be affected. The mere fact of the bulk of the criminal defendants as at today, in our courts, come from the PDP should not warrant any accusation of a selective fight. President Buhari is going after those who are involved in the administration of governance in this country for the past four or eight years. There should be no eyebrow raised because it was the PDP and its people that were in power; that occupy various position of governance in parastatals, ministry and other agencies. So, it is inevitable. In any event, the president told us some weeks ago, that any APC member who is found wanting, he said such person should come up

with evidence, I can assure you, if there is any prima facie case against any APC member, the anticorruption agency would move into action. It is not selective. They must understand the type of person our president is; he has zero tolerance for corruption regardless of whether you are PDP or APC member. I don’t believe that it is selective. The Attorney-General of the Federation in line with Section 174 (1) of the Constitution and Sections 105 (3), 106 (a) of the Administration of Criminal Justice Act ordered the retrial of some ex-governors who have either been tried and cases concluded or cases on-going. Can a concluded case be re-opened? This is a very, very important question. When a case has been concluded on the merit, let me limit myself to criminal cases because your question has to do with criminal matters. A criminal case is between the government represented by either the state or the Federal Republic of Nigeria and the criminal defendant. Where such a case is concluded naturally, there is what we call a plea of ultra vouis, acqitass, there is what we call res judicata. So, if a case has been concluded and it went in the favor of the defendant that case can never be re-opened again. Ojo If it is re-opened, let me be cautious, they can come, technically, they can come but where they come, the defendant will then raise a plea of ultrevous aquitas that is, I have been tried in respect of this same case before, I have been acquitted, this case cannot be re-opened, the case is closed. They cannot re-open concluded cases. The only aspect and this is going to give us serious problem particularly concerning the directive for the re-opening of the late Chief Bola Ige’s case. Assuming there is fresh evidence linking, establishing or capable of establishing the guilt of the criminal defendant who has been acquitted on the merit, we are going to have some problems. Do you now want to adduce additional evidence or you want to annul that judgment? In some developed jurisdiction like US, it is possible to move by way of judicial review to quash, annul the previous judgment. It can work both ways. Where it becomes clear that the conviction was erroneous, wrongful, you move to annul it but as at today, the legal framework in Nigeria does not allow that to happen. As at today, it is a legal impossibility to try Senator Iyiola Omisore again concerning the murder case of Chief Bola Ige. We are waiting. It is legally impossible to re-open that case vis-à-vis as it may concern Senator Iyiola Omisore. But the case can be re-open in respect of new defendant, if it is now clear that there is a new suspect, who was involved, who could have been charged alongside Senator Omisore, those ones can be re-arrested and tried that one is possible. But for somebody who has been tried and acquitted, to now say come and face trial, that would be double jeopardy, it is not possible in law.

It does not augur well for the legal profession if conflicting judgments, contradictory judgments emanate from the same Federal High Court

What is your take on the allegation of budget padding scandal rocking the House of Representatives? Thank you for describing it as a mere allegation. I will proceed on two assumptions. One, if it is allegation, you probably not say anything about it but assuming it is an allegation that can be established, that will constitute the commission of a criminal offence. An abuse of office, official corruption and an attempt to steal because they have abused their office, if they had succeeded, the amount involved could have been cleverly removed from the budget and misappropriated. I would want to believe that it is a mere allegation but, if it is established, those responsibly must be seriously dealt with and I am in support of the call for the investigation of that very weighty allegation. A plot to steal this country of close to N50 billion is a serious matter which should be seriously investigated. I support the investigation of those alleged to have been involved and if there is a prima facie case against them they must be prosecuted. Would you also view the move by the 8th National Assembly to confer immunity and life pension on presiding officers as illegal? Let us talk first about the immunity. There are two issues; the first one is whether or not they have the power. I would say yes, they have the power. We have given them power to make laws and nobody can inquire into the motive for reenactment of any law but speaking for myself, doing that at this stage is capable of heating up the polity. Anybody can say it is because some of them who are facing trials it is the only way to save Saraki, Ekweremadu and the rest. But I stand to be corrected, I do

not support the extension of the immunity to the principal officers of the National Assembly, we don’t need it. People are clamouring for removal of immunity for the president, vice-president, governors and deputy governors and you want to extend it again. Very soon they will say extend it to local government chairmen and speakers and other principal officers of the State Houses of Assembly, we don’t need it in Nigeria particularly in our country where corruption has become cancerous, we don’t need it here. I don’t support it and that is not to say they don’t have the power to do so, they have the power to do so and if they do so, so be it. As to pension, it is unnecessary. The whole essence of pension for maybe the president is because when somebody has been president, we don’t want him after leaving that office to suffer or to start looking for one contract or the other or begging people for money. But if you are a majority leader, possibly you are 45 years and you leave the Senate as a majority leader and you are saying they should continue to give you pension when you can work. Apart from that they already have severance packages, their severance packages are more than enough for them. Let them go and work. In Nigeria there is pervasive poverty, it is not proper to start using the national wealth to service principal officers to pay them pension and gratuity, no, it is most unhealthy, it is not good at this stage of our democratic experiment. When our economy is buoyant perhaps they can do that but not now. People are dying of hunger. It is immoral at this stage when our economy is in recession, you are thinking of pension for principal officers. I minced no words in condemning it. It is immoral.

Law 21

monDAY, august 22, 2016 NEW TELEGRAPH

Abia impasse: Justice Abang in the ‘dock’

TUNDE OYESINA writes that Abia governorship impasse is indeed another feather attained at the weekend by the judiciary as the Court of Appeal put Justice Okon Abang in the storm following the reversal of the judge’s verdict on Governor Okezie Ikpeazu

t was a jubilation of some sort at the Court of Appeal, Abuja at the weekend as the appellate court did not only invalidated the June 27 judgement delivered by a Federal High Court, Abuja presided over by Justice Okon Abang, sacking Governor Okezie Ikpeazu of Abia state but also berated the judge, putting him in the ‘dock’. It said Justice Abang erred in law when he sacked Ikpeazu from Abia Government House and allowed his opinion to reflect in the judgement. A full panel of the court led by Justice Morenikeji Ogunwumiju held that the originating summons which led to the judgement removing Governor Ikpeazu was not properly constituted and as such the lower court lacked jurisdiction to hear it and any decision that flows from it is null and void. In the lead judgement read by Justice Philomena Ekpe, the court held that the law had laid down principles by which a case can been instituted but on the motion which led to the instant appeal, three people indicated themselves as lawyers and signed the document, even while the law said only an identifiable legal practitioner could do so. The court further noted that it was not the business of the court to embark on a voyage of helping a litigant to decide who filed his case and as such the lower court erred in its deciding for the litigants. It was on these grounds that the court of appeal held that the lower court lacked the jurisdiction to adjudicate on the matter because the initiation process of the suit was not properly done. The court however stressed that any decision taken by it flowing from that suit was null and void and that the judgment had nothing to stand on. The court also noted that there was no need for an order of court to set it aside because every proceeding flowing from it was a nullity. The court also noted that an amendment cannot cure a faulty originating summons. “In the instant case, the fact and evidence raised by the faulty originating summons could not have been easily resolved because they are contentious and hostile. The lower trial judge was not right in his findings and decisions”, the court held. As to whether the lower court

The trial judge made prejudicial comments that will have an effect on the main suit as it has opened him up to accusation of bias and coloured his judgment

delved into the main issue in deciding an interlocutory injunction, the appeal court said it is imperative to examine the record of appeal. The judge however noted that Abang’s findings will definitely affect his mind when he eventually goes to the main suit because he has taken a stand on the tax document submitted to INEC to be faulty. “A judge is expected not to take any position on any issues in the main suit because doing so will prejudice the main suit”, he stated. He also added that doing so will indicate that there was a breach of fair hearing. “Therefore the judgment delivered on the 27th of June 2016 by the lower court is set aside and a cost of N100,000 is awarded in favour of the appellant. The court noted that the plaintiff at the lower court ought to have come with a writ of summons rather than an originating summons. The court also noted that the trial judge ought not to have gone into the main suit by referring to the tax papers being contested saying the action of the judge gave an impression that he had a biased mind against the appellant . “The trial judge made prejudicial comments that will have an effect on the main suit as it has opened him up to accusation of bias and coloured his judgment, making it imperative to set aside the entire exercise”, he held. Earlier, the court dismissed the second appeal arising from two judgments of the Federal High Court, Abuja which on June 27 removed Okezie Ikpeazu as Governor of Abia State. The appeal dismissed by the appeal court was filed by a governorship aspirant in Abia State, Mr. Friday Nwosu, who participated in the Peoples Democratic Party’s December 8, 2014 primary which was won by Ikpeazu and in which Uche Ogah ended as first runner up. Nwosu contended in his appeal that he be declared the validly elected Governor of Abia State on the basis that the Federal High Court had rightly removed Ikpeazu, and that Ogah who was ordered to be sworn in as Governor, had earlier rejected and repudiated the outcome of the primary. The Justice Helen Ogunwumijuled five-man panel of the Court of Appeal dismissed the appeal for lacking in merit.

Ikpeazu and Ogah

Justice Tanko Hussaini, who read the lead judgenent held that though the appellant had locus standi to appeal against the judgment of the Federal High Court, his contention that Ogah could not be a beneficiary of the PDP’s primary held on December 8, 2014 having “rejected and repudiated” its outcome had no legal basis. Justice Hussaini held that the appellant misapplied the decided authorities on doctrine of waiver and estoppel upon which his (appelllant’s) appeal was predicated. The panel unanimously agreed that even though Ogah protested against the outcome of the primary, it did not rob him of his legal right under Section 87(a) of the Electoral Act to express his grievances against Ikpeazu’s nomination as the PDP’s governorship candidate in the April 11, 2015 election in the state. It also held that contrary to Nwosu’s contention, there was evidence that Ogah signed the appeal. The Court of Appeal also held that Nwosu’s prayers that he be issued fresh certificate of return and sworn in by the Chief Judge of Abia State as the Governor was incompetent as he did not seek the mandatory leave of the appeal court to ask for reliefs that were not put before the lower court. The appellate court held that the appeal had no “scintilla of merit”; it dismissed it and awarded the sum of N100,000 as cost against Nwosu. Justice Okon Abang of the Federal High Court in Abuja had in his judgments delivered on June 27 sacked Ikpeazu for allegedly disclosing false information in relation to his tax clearance details to Independent National Electoral Commission in his form nominating him as the candidate of the PDP for the last year’s governorship election in the state. The judge, also in the said judgment, ordered the governor’s rival who was the first runner-up in the primary that produced Ikpeazu as the candidate of the PDP, Mr. Uche Ogah, to takeover. The judge held that Ikpeazu was not qualified to be PDP’s candidate having disclosed false information to INEC in violation of his party’s Article 14(a) of the PDP Electoral Guidelines and Section 31 of the Electoral Act. The court held in both judgments that Ikpeazu was not qualified to be PDP’s candidate having

falsely claimed on oath that he had met all necessary qualifications to be PDP’s candidate. Justice Abang’s judgments were based on separate suit (FHC/ABJ/CS/71/2015) filed by Ogah and the other suit (FHC/ ABJ/CS/1086/2014) filed by Obasi Ekeagbara. In his judgement, Justice Abang held that Ikpeazu was guilty of tax evasion and therefore not qualified to have participated in the primary elections of the party, let alone contest in the state’s governorship election.The judge said he had relied on the Supreme Court decisions in the case of Obi vs INEC and Ameachi vs INEC to make the consequential order. He added that Ogah who was also a PDP gubernatorial aspirant in 2015 election in Abia State was entitled to the certificate of return in the April 2015 election. “It is hereby ordered that INEC, the third defendant should immediately issue certificate of return to Dr Samson Ogah as Governor of Abia State in the election held in 2015 and restore to him all the entitlements as the elected governor of Abia. “Dr Okezie Ikpeazu is hereby ordered to vacate office as governor of Abia state immediately relying on the decision of the Supreme Court in INEC vs Obi”, Justice Abang held. The court held that the tax clearance certificate and income tax receipts submitted by Ikpeazu were unknown to the law and made him ineligible to contest the poll. He further held that the 2011 tax clearance certificate and income tax receipt submitted to INEC before the 2014 PDP primaries contained false information. The court opined that Ikpeazu’s appointment letter as General Manager, Abia Passenger Integrated Scheme on July 18, 2011 spelt out his salary and entitlements. ”Going by the appointment letter, Ikpeazu would have worked for Abia Passenger Integrated Scheme for five months 12 days. The earnings of the second defendant based on the letter of appointment by single calculation in 2011 for five months 12 days is N493 or N546, 669 if not assigned government vehicle. The tax payment submitted by the second defendant didn’t reflect this figure”, the court noted. Abang further held that the tax certificate indicated the gross earnings of Ikpeazu for 2011 to be N1.14 million and the income tax was assessed on this figure.

22 Law

monDAY, august 22, 2016 NEW TELEGRAPH

One court, one subject, two judgements For the second time in two months, the judiciary has given the nation a cause to worry following conflicting judgements being churned out especially from the court of coordinate jurisdiction. What does this portend for the nation’s justice system? TUNDE OYESINA asks

n recent time, the Federal High Court has become known for conflicting judgements on the same subject matter by different judges. This however is becoming a matter of concern to stakeholders in the sector. Most recent of the conflicting judgement is in the case of the Peoples Democratic Party (PDP) leadership tussle and the Abia state gubernatorial impasse. In the case of Abia State, one of the judges received judicial bashing as his controversial judgement was thrown into the waste basket. The Court of Appeal described his judgement as ridiculous. His Lordship turned the law on its head, the appellate court said. In the eye of the conflicting judgements storm in two of these cases is a judge of the Federal High Court siting in Abuja, Justice Okon Abang. Justice Abang is one of the judges of the Federal High Court. He was initially of the Lagos Division but later transferred to the Abuja division of the court. Since his arrival in Abuja jurisdiction, the judge has handled some high profile cases such as the corruption case against a former Chief of Defence Staff, Air Marshal Alex Badeh, National Publicity Secretary of the Peoples Democratic Party, Olisah Metuh, Abia State governorship imbroglio involving Governor Okezie Ikpeazu and Dr Sampson Uche Ogah, the suit against the PDP national convention among others. For his role in these cases, Justice Abang was not only popular but has become controversial. Some stakeholders in the judiciary had however described Justice Abang as being controversial especially in some of his pronouncements, while he had earned commendation from others on what they described as his boldness and brave feat on the Bench. Most recent among the pronouncement of the judge was the suspension of the national convention of the PDP. Justice Abang had in conflict with a judgement from the Port Harcourt division of the court suspended the convention of the party which was to hold on August 17 in Port Hacourt the Rivers State capital. Another case of reference was the sack of Governor Okezie Ikpeazu of Abia state. In the PDP suit, Justice Abang had earlier pronounced a factional chairman of the party, Senator Ali Modu Sheriff as the authentic chairman of the party and held that all

actions taken by him was valid. Leadership crisis had been rocking the PDP. The problem started at the first planned national convention of the Party in Port Hacourt, when the party purportedly removed Sheriff as its National Chairman and installed a caretaker committee headed by Senator Ahmed Makarfi to conduct a fresh national convention for the party. Justice Mohammed Liman of the Port Hacourt Division had however upheld the dissolution of Sheriff led executive. The judge in his ruling held that the party did not violate any court order in constituting a National Caretaker Committee to steer its ship for a period of time, thus granting recognition to the Senator Ahmed Markafi-led national executive of the party. Justice Liman noted in his ruling that Sheriff (the first defendant), in line with the party’s constitution, convened the Port Harcourt national convention with other national officers of the party, appointed a national conMohammed vention organising committee and subsequently submitted himself for screening to re-contest his position at the convention. The court noted that he later turned round to single-handedly postpone the convention after he had been disqualified from contesting for the National Chairmanship seat of the party. Justice Liman said the chairman of the party didn’t have powers to unilaterally postpone the convention since there was a caveat in the party’s constitution that he was to preside over the national convention with other national officers of the party. “The first defendant from undisputable evidence participated from the very initial stage of summoning the convention from the level of naHis Lordship tional executive council, appointed a national convention organizing turned the committee; he failed to contest, was law on its screened but disqualified from participating in the convention”. head, his Despite the Port-Hacourt judgement, Justice Abang in another ruljudgement ing affirmed Sheriff as the authentic ridiculous National Chairman of the Party. The court further nullified the appointment of Senator Ahmed Makarfi as caretaker committee chairman. Justice Okon Abang held that the purported convention held in Port-Harcourt on May 20, was held in violation of the two court orders of the Lagos Division of the Federal High court which barred the PDP, INEC from holding the convention. The court went further to bar Makarfi-led caretaker committee from exercising any authority or taking any decision on behalf of the PDP hence forth on account of being an illegal body. The judge however took a swipe at the Makarfi led group for missing their way to Port-Hacourt to obtain a judgement from a division of a Federal High Court which is a court of co-ordinate jurisdiction with that of Lagos division to obtain a favourable judgement. Justice Abang held that the judgement of the Port-Harcourt division which recognised Makarfi led caretaker committee was unlawful, illegal and had no foundation in law to stand. The crisis however continued when Justice Ibrahim Watila of the Port Hacourt Division okayed the holding of the PDP national and Justice Abang suspended the convention. While Justice Abang stopped the

Bulkachuwa

PDP from holding the national convention, Justice Watila okayed the party to go ahead with the convention. Both judges had earlier on before their final judgment gave separate conflicting interim injunction. Justice Watila gave his final judgement holding that the convention was lawful and legal, while Justice Abang gave an interlocutory judgement stopping the convention pending when the case before him will be determined. Justice Abang, in a judgement on an application brought by the Sheriff faction, barred the PDP from holding its national convention. The court also barred the party from presenting any candidate, electing or recognizing anybody as national officer from the convention. Justice Abang also restrained INEC from monitoring or supervising any convention pending the determination of the substantive suit before the court. The court further ordered the Inspector General of Police to enforce the order of the court which stopped the convention. Also, the court directed Sheriff to obtain and fill form 48 so as to commit anybody or group who may disobey the orders of the court to prison. He later adjourned till September 7 to hear the substantive matter. The judge, who faulted the decision of the Port Harcourt Division of the Federal High Court to assume jurisdiction on the case relating to the PDP convention, also directed that his order be endorsed with Form 48 (Notice of disobedience of court order) and served on the INEC chairman and secretary. He said failure by INEC or any of the defendants to comply with his order “will attract disciplinary action” provided “the plaintiffs know what to do. “He made the order after the plaintiffs, comprising the factional National Chairman of the PDP, Ali Modu Sheriff and others, moved their motion praying for the interlocutory order. The judge held that the motion was not opposed as the respondents, including members of Ahmed Makarfi-led caretaker committee of the party, failed to file a counter-affidavit opposing the motion. He said the Makarfiled caretaker committee members who were only on Monday joined as the third to the ninth respondents adopted strategy of not filing counteraffidavit but other processes that were not found in the court file. “They must sink and float with

their legal strategy,” the judge ruled. Justice Abang said the request by their counsel, Mr. Yunus Ustaz (SAN) and Chief Ferdinand Orbih (SAN), asking for an adjournment after the plaintiffs’ counsel, Chief Adeniyi Akintola (SAN), had moved his motion was an afterthought. Counsel for the PDP, Mr. Olagoke Fakule (SAN) and that of INEC, Alhassan Umar, did not oppose the application. The judge ruled: “In any case, the plaintiffs’ application is not opposed by any of the parties. The law must take its course. The facts placed before this court is unchallenged by the respondents when they had the opportunity to do so. The facts deposed to by the plaintiffs are credible.” The judge blamed the Port Harcourt division of the Federal High Court for the conflicting orders that had so far been issued by him and from Port Harcourt. Justice Abang said the Chief Judge, Justice Ibrahim Auta, having first assigned the case relating to PDP convention to him as far back as July 4, the Port Harcourt division ought to have drawn the CJ’s attention to the case later filed with respect to the same subject matter. Justice Abang however chided Justice Watila of the Port Hacourt Division for entertaining the PDP matter inspite of the pending suit in Abuja division. The court noted that the Port Harcourt division would have done well if it had referred the suit filed by Senator Ben Obi to the Chief Judge of the Federal High Court for a directive instead of assuming jurisdiction the way it did. Commenting on the conflicting decisions of the court, Justice Abang noted that the Port Hacourt division had set stage for the legal combatants to decide which of the decisions should be obeyed. “The Abuja division is not struggling with Port Hacourt division for jurisdiction. The Port Harcourt division should not have assumed jurisdiction because the Supreme Court has made it clear that when a situation we have at hand arises, a judge should consult with the Chief Judge before taking any step. The Federal High Court is one, we just have divisions for administrative and convenience sake. It is the statutory duty of the Chief Judge to assign cases and such is not in dispute. The Chief Judge assigned this case to me on July 4.

Law|News 23

monDAY, august 22, 2016 NEW TELEGRAPH

NJC to investigate judge over alleged bias

he National Judicial Council (NJC) may have begun investigation into allegation of bias brought against a judge of a Federal High Court. NJC is investigating the alleged bias in a suit No. FHC/L/CS/146/16 between Aero Contractors Nigeria Limited, Asset Management Corporation of Nigeria and a Senior Advocate, Adeniyi Adegbonmire against Eniye Ambakederemo, Obaro Solomon Ibru, Edesiri Onajiteroghene Ibru and Priscilla Ndu. In a petition dated July 21 and was received by NJC on July 27 entitled “complaint of bias, insubordination, judicial rascality and deliberate bid to incite members of the public against a litigant contrary to the Oath of Office”, the complainant asked the Chief Judge of the Federal High Court, Justice Ibrahim Auta to immediately transfer the case file to another judge. This, according to it would serve the course of justice. The petition allegedly written by the Chairperson, Board of Directors, Aero Contractors Company of Nigeria limited, Eniye Ambakederemo, said that a mortgage agreement between Aero Contractors and the defunct Oceanic Bank Plc., had suffered default which had led to a debt allegedly inherited by Asset management Corporation of Nigeria (AMCON) from

Auta

the bank upon its liquidation. However, an attempt by AMCON to recover the debt consequently led to a suit No: FHC/C/CS/07/2014 in AMCON vs. Aero and presided over by Justice Mohammed Idris of the Federal High Court, Lagos. Later on, the matter was resolved amicably and terms of settlement was entered as contained in the court judgement of February 17, 2015.

The judgment ceded in favour of AMCON 60 per cent of the shares of Aero while the remaining 40 per cent shares were left for the legacy shareholders which comprised the Ibrus, who were the original owners. The period for the pay back of the judgment sum was fixed at 10 years commencing from February 17, 2015 date of the said judgement wherein Aero started servicing the

judgment sum. It was the execution of that judgment that brought the chairperson a slot to the Board of Aero haven being a Director in Resolution and Restricting Company Limited, a subsidiary company of AMCON and a Director of AMCON. One year after, whilst compliance to the judgment of Justice Idris of February 17, 2015 was going on, on February 4, 2016, an order of interim injunction was allegedly granted to AMCON by Justice Mohammed Idris in another case brought by AMCON against the Chairperson and three other Directors of the firm in suit No: FHC/L/ Cs/146/2016 wherein AMCON alleged to have put Aero on receivership. The ex-parte interim injunction granted in favour of AMCON lapsed beyond 14 days and went as far as 60 days plus without a renewal or extension. However, Aero sought a discharge of the order before the judge on May 17, but its request was turned down for an enlargement of time to set aside the ex-parte interim injunction contrary to Order 26 Rules 11 and 12 of the rules of the Federal High Court. Apparently helpless, the petitioner sought to know “how could an ex-parte order been made against me in my absence and I now have difficulties of presenting any case

Man jailed 19 years for rape Akeem Nafiu

hief Magistrate Kikelomo Ayeye of a Tinubu Magistrate Court has sentenced one, Sheriff Oyewole, to nineteen years imprisonment for rape. The court found Oyewole guilty of five of the twelve counts slammed on him by the police. Delivering her judgement, the magistrate said: “The sole issue for determination here is whether the prosecution has proved each of the twelve count offences alleged against the defendant herein beyond reasonable doubt or not. In every criminal matter, onus of proof is at all times on the prosecution. The onus is discharged on the establishment of the essential elements of the alleged offences” Magistrate Ayeye held that the prosecution has proved counts 1, 2, 7, 8 and 9 offences against the defendant beyond reasonable doubt. “The defendant is hereby convicted and sentenced as follows: 5 years on count 1(unlawful sexual intercourse); 5years on count 2(detain to have unlawful sex in

a hotel room); 5years on count 7(engaging in sexual activities without consent); 1 year on count 8(assault) and 3 years on count 9(sexual assault)”, the magistrate held. The sentences are however to run concurrently starting from the day of his arraignment. During trial, prosecution called four witnesses and tendered five exhibits. The victim who was the first prosecution witness, in her evidence in chief, painted the picture of how the incident happened.

She told the court that she had knew the accused person, who was a tenant in her father’s house, for over 10years. The victim further narrated how they ate and drank together at a party they both attended on August 16, 2015. “At the party, I took a bottle of Baileys and at about 7.30pm, I told the defendant I needed to start going home, but the defendant asked me to wait till after he had lodged three of his friends in an hotel in the neighborhood”, she Atilade said.

School clerk, accomplice remanded in prison for N5.3m theft Akeem Nafiu

ustice Abdulazeez Anka of the Federal High Court in Lagos has remanded a clerk of Saint Saviour School, Ikoyi, Olawale Azeez in prison following an alleged theft of N5.3million. Olawale, who was docked, was remanded alongside the school’s Assistant Facility Manager, Rasheed Lanlehin. Their remand in prison custody followed their arraignment before

the court by the Special Fraud Unit (SFU) of the Police. The duo were alleged to have conspired with the school’s Finance Manager, Oladimeji Akinola and Finance Officer, Michael Adegbola, both of whom were said to be at large, to fraudulently convert the money to personal use. The accused persons allegedly between September 2008 and May 2016 forged the school’s accounting records and used same to falsify the school’s accounts with

First Bank Plc., and Stanbic IBTC Plc. The alleged offence is contrary to Section 15(1) (a) (ii) of the Money Laundering (Prohibition) Act, 2011, as amended. Upon their arraignment, the accused persons however pleaded not guilty to the charge. However, a charge earlier filed by the police against Akinola and Adegbola, which was later amended, accused the duo of defrauding the school to the tune of N114. 5million.

to discharge the order that was granted by listening only to AMCON, the order having elapsed without a renewal. “From the enquiries I have made, without my prompting or application the judge can on his own set aside the order after 14 days, since the AMCON obtained the ex-parte interim order and the court has refused to hear my plea to set aside, AMCON has used the order to perpetuate all kinds of damages and untold hardship against Aero and airline. At the moment, the fleet of Aero which was six aircrafts has been reduced to three and unfortunately when the judge made the order of ex-parte interim injunction, he did not make an order that AMCON should provide an undertaking as to damages. “How can a judge sit over the same matter in a different dimension without sensing and or raising a question of an abuse of court processes at all in view of the judgment in the previous case, when everything about the cases in suit No: FHC/C/CS/07/2014 and FHC/L/CS/146/2016 revolved round the same money, AMCON and Aero. “I am fully aware of the fact that Justice M.B. Idris has an origin of a giant support and legal background but that would not limit me to express my fear and findings even if it will fail, which I doubt.”

Lawyer sues FG, AG, CBN others for sponsoring pilgrims Akeem Nafiu

lawyer and rights activist, Chief Malcolm Omirhobo, has dragged the Federal Government, AttorneyGeneral of the Federation, Mr. Abubakar Malami(SAN), Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, Government of all states in Nigeria, the Nigerian Christian Pilgrim Commission and the National Hajj Commission to the Federal High Court in Lagos over the continued sponsorship of pilgrimage by the government. Also sued are the FCT Minister, AttorneysGeneral of 36 States in Nigeria and the Welfare Boards for both Muslim and Christian pilgrims in the FCT and all States of the Federation. In a fundamental right enforcement suit, the lawyer is claiming that by virtue of Section 10 of the Constitution, Nigeria is a secular state and as such, the continued sponsorship of Christian and Muslim pilgrims by both the state and federal gov-

ernment is illegal. He is consequently seeking for the disbandment of the Nigerian Christian Pilgrim Commission and the National Hajj Commission by the court. He is equally seeking for the disbandment of the welfare boards for Muslim and Christian pilgrims in all states across the country. Besides, he is seeking the following declarations among others: “That by virtue of Section 10 of the Constitution, the granting of concessionary exchange rate by the FG, AGF and the CBN Governor to Muslims going to hajj at Saudi Arabia in 2016 to enable them purchase their Pilgrim Travelling Allowance(PTA) at the rate of N197 to a dollar as against the prevailing market price of N318 to a dollar is preferential, illegal, unlawful, unconstitutional and a violation of the applicant and other Nigerians fundamental right to freedom of worship and against discrimination as provided for in Sections 38 and 42 of the Constitution.

24 Law|news

monDAY, august 22, 2016 NEW TELEGRAPH

Akintola, Raji, Ali differ on ‘padding’

C O N T I N U E D F R O M PA G E 1 9

president believes that the National Assembly has hurt him by failing to provide funds for a particular project dear to his heart, he has no constitutional power to unilaterally draw funds from the Consolidated Revenue Fund to finance the said project without the approval of the National Assembly. Any spending by the president in the absence of due appropriation is ‘ultra vires’ and constitutes a violent contravention of the Constitution for which the president may become classically liable to be impeached. “The National Assembly is not a mere robotic and rubberstamping but a vibrant, interrogative legislature. Since the legislature has the capacity to amend or even wholly reject budget proposals of the Executive and substitute it with its own, it means that it is only the National Assembly that can actually make such appropriation. Any plan or estimates tabled by the Executive, but without such appropriation, will be tantamount to misappropriation in the eye of the law.” Ali said that budget padding was not a crime. He however added that padding can only become to an offence if the appropriation bill as passed by the National Assembly was signed into law by the President. He said: “Padding means ‘adding to’. A budget is incomplete until it is passed and assented to by the president or governor. For now, it’s a bill, that’s why it’s called budget proposal. It’s not an act or law yet. The budget proposal is like any other bill to be passed into an Act. If for instance, the executive sends the Petroleum Industry Bill to the National Assembly, must it be passed the same way it was sent? Can they not alter some sections, as it is done during public hearings? Will that be padding? “The legislature is not bound under the Constitution to pass a bill the way it is presented, either by a member or by the executive. You can’t say a budget has been padded except people inserted new things after the president assented to it, in which case they’re changing the texture of the law. “What will amount to an illegality is when a bill has been passed into law and anybody now adds to it after it has been assented to. It’s like changing the sections of a law that has already been passed. That’ll be an offence. A budget proposal can be deducted from or added to. The total figure of a budget proposal may increase or decrease. More than any other thing, there’s nothing like the offence of padding under our law. For me, we should leave politics and sentiments and deal with the law.” Hon said the House of Representatives leadership did no wrong by adding to the budget. He said: “Section 81(1) of the 1999 Constitution provides that the President shall lay before the National Assembly the estimate of expenditure and income, that’s it, the budget for the following financial year. Laying the estimate before the National Assembly does not contemplate that the estimate must be passed as laid. It contemplates that the National Assembly can deliberate on it, and in doing so can easily add or subtract from the estimate. Indeed if the National Assembly adds to, it can’t amount to padding of the budget or a crime. There’s no crime known to law as budget padding. “Sections 36 (8) and (12) of the

Ali

Constitution are to the effect that no person shall be punished for a crime not known to law. So, there’s never a crime known as budget padding. And the National Assembly is not a rubberstamp assembly as to swallow hook, line and sinker what the President has sent to them. They deliberate on it and make input. That is why they’re part of the Federal Government of Nigeria. We should be very wary of bringing down persons and institutions in this country.” To Raji, padding as an act was not known to the law of the country, saying although it could lead to crime when figures were inserted into the budget without executing the project it was meant for. He said: “Padding as an act is not known to law but it can lead to crime when you pad the budget without executing the project for which it is meant for.” Obla, in his reaction defined padding as tinkering with the budget but quick to however say that the budget was only sent to the National Assembly to be tinkered with. He said: “Lawmakers in the process of tinkering with the budget can pad it. If they are padding the budget for the good of their constituencies, there is nothing wrong with that.” Akintola described it as forgery and not padding. What happened in the House ‘is forgery and not padding.’ He said: “Well, I think the Speaker is entitled to his opinion about comments from commentators and analysts on this issue. But what they did is forgery and not padding. We are only dignifying them when we are saying padding. What they did was simply forgery. This is because according to the members of the integrity group, what was sent to the President was not what was passed on the floor by the committee of the whole house. That is nothing but forgery. “There is no argument about the fact that the lawmakers can move money from project A to project B. However, they don’t have powers to alter what the members have done collectively. It is wrong for the principal officers to tamper with what members have collectively agreed on. Secondly, the legislature has no powers to create project of their own as they did in that budget.” Akintola however suggested that the House Speaker must step down. He said: “In a civilized society, he should have resigned. But in Nigeria,

Raji

There’s nothing like the offence of padding under our law

it is alien to us and you cannot blame him. An average Nigerian politician has no shame. It is not in our character to resign honourably. “In the history of this country, I think myself and Chief Christopher Kolade, are the only set of people to have resigned from public office on principle. Our stories are known to all and sundry in this country. Chief Kolade resigned as chairman of SURE-P, when he discovered that he could no longer perform his duties with the then existing laws. Even then, the resignations came to many as a surprise. So, it is not in the character of an average Nigerian politician to resign from office. So, I am not surprised when Dogara said he is not going to resign. We are all living witnesses in this country when Stella Oduah, Okonjo-Iweala and many more refused to resign from their positions following alleged malpractices. We all know what happened at the budget office and pensions’ board. It’s not in their characters to resign for proper investigations to be carried out. They have no shame and honour.” However, in his own submissions, Vice-president-elect of the Nigerian Bar Association (NBA), Mr. Monday Ubani, faulted Dogara’s comment saying the speaker cannot be the judge in his own case. He said: “Well, he cannot be the judge in his own case. Proper investigations should be done on the matter. What I am saying is that since Dogara has been accused of doing something wrong, he should allow security operatives to thoroughly investigate the matter and determine whether he is guilty or not. I don’t think it is proper for him to try to exonerate himself. “We will know whether or not ‘padding’ is an offence when the matter is properly investigated. The investigation will reveal how the alleged offences were perpetrated and other things attached to it. There were allegations that budget was ‘padded’ for personal aggrandisement. Dogara was accused of putting something that has to do with his farm into the national budget. These are weighty allegations that must be investigated. National budget is for the development of the nation and not for the development of certain individuals. However, all these things boil down to investigation. He is presumed innocent until the contrary is proved. At

this juncture, Dogara should submit himself to investigation.” Ugwumadu was not different. He said padding as it happened in the House of Representatives was akin to conspiracy, forgery, breach of public trust and conversion. He said: “They cannot afford to travel the PDP route. ‘Padding’ in the circumstance that it happened in the National Assembly has been rightly situated within the context of criminal conspiracy, forgery, breach of public trust and conversion. These are all criminal offences under our criminal legislations to which clear punishments are ascribed upon convictions. “Any ‘family way’ out of this will amount to what we call ‘compoundment of crime’ which is also a crime. PDP excelled and elevated impunity to a state craft by dealing with criminal malfeasance as family affairs. The extraneous technical response sought to be communicated to the public that ‘padding’ is unknown to our criminal jurisprudence is reminiscent of President Jonathan’s failed attempt to draw a non-existing distinction between stealing and corruption which is very provocative and completely unacceptable to the people of Nigeria who are the direct victims. “If the Speaker of the House of Reps is not disposed to stepping aside as the honour and decency of his office demand in the circumstances of this embarrassing controversy, then, the least expected from him is to remain extremely circumspect without the air of dismissive arrogance and impunity which were very noticeable after his visit to Mr President.” Abayomi described budget padding as constitutionally wrong and not criminally wrong. He stated that the National Assembly members had no right to raise budget head. He said: “It is constitutionally wrong but not criminally wrong. NASS has no power to raise budget heads. It is a moral wrong. It is against separation of powers in government.” Ighodaro said that budget padding was corruption. He disclosed that it is akin to corruption offences such as abuse of office, attempt to embezzle, diversion, misappropriating public funds, conspiracy to act corruptly and illicit enrichment, which are recognized under the UN Convention against corruption to which Nigeria was a state party, and included in national legislation such as the Corrupt Practices and Other Related Offences Act, the Economic and Financial Crimes Commission Establishment Act and the Fiscal Responsibility Act. He noted that the allegation suggested a subversion of the budget process which in itself was not only a crime but also a fundamental breach of constitutional provisions and an affront to internationally recognized human rights. According to him, “a prima-facie case of corruption is established when elected officials are allegedly influenced to act contrary to their obligations of office by the prospect of financial gain tothemselves. Budget padding also amounts to corruption as the action is against the public interest. Any appearance of corruption in the budget process can result in a cynical public to losing interest inpolitical participation altogether. And democracy can’t work unless Nigerians have faith in those who govern them.” Ajulo was of the view that padding was a breach of the law. He asked the speaker should resign from office.

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

Interview ‘There’s no clear direction on the economy’

Business What's new Dearth of skilled manpower compounds aviation woes

Money Line ‘Economy’ll determine AMCON’s future performance’

34 36

Rates Dashboard INFLATION RATE June 2016...............................16.5% May 2016............................15.6% April 2016..............................13.7%

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

EXCHANGE RATE

(Parallel Market August 19)

(Interbank as at August 19)

USD . . . . . . . . . . . . . . . . . . . . . . N395 Pounds . . . . . . . . . . . . . . . . . . . . N510 Euro . . . . . . . . . . . . . . . . . . . . . . N440

l Foreign Reserves – $25.754bn as at17/8/2016

USD . . . . . . . . . . . . . . . . . . . . . N308 Pounds . . . . . . . . . . . . . . . . . . N428 Euro . . . . . . . . . . . . . . . . . . . . . N368

Source: CBN

p.26 L-R: Head, Corporate Banking, Jaiz Bank, Alhassan Abdulkarim; NDIC Executive Director, Operations, Prince Aghatise Erediauwa; MD/ CEO Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim; MD/ CEO, Jaiz Bank Plc, Mallam Hassan Usman and Jaiz Chief Compliance Officer, Ahmed A. Hassan, during a courtesy visit of the Jaiz Bank Plc management to the Corporation.

Nigeria to spend N436.1bn on sugar importation p.26

5,700 jobs at risk as NNPC depots, pipelines are grounded HALT Atlas Cove multi-million dollars jetty’s optimisation contracts stalled

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

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

ver 5,700 jobs are at risk as activities at the five major depots of the Nigerian National Petroleum Corporation (NNPC) have been completely grounded, rendering Nigeria’s biggest storage facility at Atlas Cove idle. The depots, located in Ejigbo, Lagos State, Mosimi in Ogun State, Ore in Ondo State, Ibadan in Oyo State and Ilorin in Kwara State, have ran dry of petroleum products and findings by this newspaper showed that hope of supply to them soon is uncertain. The Pipelines and Products Marketing Company (PPMC) has shut the System 2B pipeline that carries products from Atlas Cove in Apapa to these depots due to incessant attacks at flashpoints. The pipeline, according to a document of the PPMC, recorded 2,440 breaks, leading to losses of over N73.6 billion in products and pipe-

line repairs in just 10 years. Checks by this newspaper showed that over 5,700 oil workers, majority of who are marketers at the depots, are already out of jobs. “It is a big problem for bread winners to be out job, especially at this period when things are so difficult,” a worker at the Ejigbo depot, Oluwole Salami, told our correspondent. A marketer at the depot, Haminu Muhammed, corroborated his view. He said: “None of the over 2,000 marketers and even the NNPC staff, is doing anything again in Ejigbo since the problem started. “We were only told by NNPC that anyone who has tickets to load should go to private jetties in Apapa to load. While this new arrangement will not help traffic congestion in Lagos, it is also a big threat to means of livelihood for many of us.” Meanwhile, the NNPC optimisation contracts to increase the Atlas Cove depot’s storage capacity by 150,000 cubic metres has been stalled. The project was aimed at the construction of three new tanks each of 50,000 cubic metre capacity for Premium Motor Spirit (PMS), Automative Gas Oil (AGO) and Dual Purpose Kerosene (DPK) to increase the products’ supply. The Atlas Cove Jetty, Apapa, La-

N174.57 billion Being the cost of product losses and repairs on pipelines within the last 10 years

gos, is Nigeria’s major delivery and re-distribution point for refined petroleum products. First built in 1979 and rebuilt by Julius Berger in 2000, the jetty is owned and managed by the PPMC on behalf of Nigerian National Petroleum Corporation (NNPC), as a storage farm/facility that channels refined products through System 2B pipelines that runs through Ejigbo (a suburb of Lagos). These pipelines supply petroleum products to the entire Western region of Nigeria, Kwara and Edo states. In all, the NNPC said that it had lost N174.57 billion on product losses and repairs of products pipelines within the last 10 years. Depots served by the Atlas cove jetty include Mosimi, Ore, Ibadan and Sagamu. The Atlas Cove Jetty is also used to off-load coastal vessels as well as pump petroleum products to the Atlas Cove Depot for storage. This command centre for refined petroleum products is administered from Abuja by the PPMC, a subsidiary of the government-owned NNPC. The management of NNPC had earlier refuted reports of the growing dilapidation of the Atlas Cove Jetty, the biggest petroleum products storage facility in the country.

BUSINESS |news

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

Dearth of skilled manpower compounds aviation woes QUICK FIX Africa to mitigate shortfall by employing expatriates

Wole Shadare

earth of skilled manpower in Nigeria’s aviation has compounded the woes of the industry, New Telegraph has learnt. This is said to be threatening the ability of the industry to meet her safety oversight functions. This problem is, however, not limited to the aviation sector in Nigeria. For the past nine years, a major obstacle in Africa’s inability to meet its safety oversight functions is the lack of requisite competent manpower. President, Nigerian Aviation Safety Initiative (NASI), Capt. Dung Pam, quoting the World Bank, said tertiary enrolment for developing countries stood at 10 per cent of the population compared to 56 per cent for Organisation

Atlas Cove terminal stores 60 per cent of NNPC’s products nationwide

NPC said that the revamp of the entire storage, pumping and associated pipelines were conceived and tendered for in 2007. The Corporation said in a document seen by New Telegraph at the weekend that it had improved the depot’s Single Point Mooring (SPM) facility to handle vessels of up to 80,000 DWT. The reconstruction of PMS Tanks 11 and 21, which has been awarded and is on-going, when completed, will add 50 per cent to the existing PMS storage capacity, which now stands at about 58,000 cubic metres, the Corporation had stated. It added that following the expiration of the life span of the old buoy, a new calm buoy was installed in 2010 to guarantee security of product supplies through the SPM. “Contract has already been awarded for 10-inch Fire Hydrant Ring Mains to enhance safety at the terminal and the construction of a new 16-inch pipeline on a new route to complement the existing line. PPMC is also pursuing the restart of the optimisation project aimed at the construction of three new tanks each of 50,000 cubic metre capacity for PMS, AGO and DPK to increase the depot’s storage capacity by 150,000 cubic metres,” the NNPC said.

for Economic Co-operation and Development (OECD) countries. He noted that it is evident that Africa will find it challenging to produce the number of development professionals needed to sustain economic growth in the aviation sector without a serious change in her educational and labour policies. Aircraft giant, Boeing, had recently predicted that Africa needs to provide an additional 725 pilots and 810 aircraft engineers every year for the next 20 years to be able to man it’s aviation sector planned capacity. The International Air Transport Association (IATA) said globally, in the next 20 years, airlines would have to add 25,000 new aircraft

to the current 17,000-strong commercial fleet. By 2026, airlines would need 480,000 new technicians to maintain these aircraft and over 350,000 pilots to fly them. Between 2005 and 2015, 73 per cent of the American air traffic controller population was eligible for retirement. Nigeria’s population is said to be 18 per cent of Africa’s, hence, the need to provide the appropriate 18 per cent of the manpower. This comes to precisely 130 additional pilots and 146 new engineers every year. Pam noted that failure to meet this target means that Africa will have to mitigate the shortfall by employing expatriates. His words: “These will

eventually lead to repatriating both the acquired skills and revenue back to their home countries to the detriment of this continent. The problem could have been eliminated if the promised academic upgrade and expansion of the Nigerian College of Aviation technology (NCAT) had been carried out long time ago.” Also, former Assistant Secretary General of Airline Operators of Nigeria (AON), Mohammed Tukur, lamented that the growth of indigenous manpower in the aviation sector came to abrupt end when the airline stopped training pilots and engineers. The situation, he said, was exacerbated by the many years of the neglect of the

NCAT. In this regard, even pilots and other professionals, whose parents and airlines wanted to train in the college, could not graduate because there was no equipment to train them. Tukur disclosed that in the next 20 years, over one million pilots, engineers, technicians, cabin crew and air traffic controllers would be required to keep the global industry running, adding that for the air transport sector to remain safe, efforts must be put in place by countries to bridge the manpower gap. Sector analysts say it is only through the provision of the requisite technical manpower that safety can be guaranteed in the sector and incessant air mishap stopped.

L-R: Managing Director/CEO, Standard Alliance Life Assurance Ltd., Mr. Bolaji Oladipo; Chairman, Bode Akinboye and Company Secretary, UruemeEsiri Oghen, at the Annual General Meeting of the company in Lagos. PHOTO: SULEIMAN HUSAINI

Nigeria to spend N436.1bn on sugar importation DECLINE Sugar importation to decline by 40,000 tons or 2.72 per cent next year

Bayo Akomolafe

s the global price of sugar hits $470 per metric ton, Nigeria is billed to import some 2.9 million metric tons of raw sugar valued at N436.2 billion ($1.36 billion) between this year and 2017. Data obtained by New Telegraph from Index Mundi, a data portal that gathers facts and statistics on imports, revealed that importers had booked 1,470,000 metric tons for 2016 and 1,430,000 metric tons for 2017. Brazil is the largest raw sugar supplier to Nigeria. However, the import statistics from the portal revealed that the 2017 import would be

reduced by 40,000 metric tons or 2.72 per cent. This week, a vessel, MV Road Runner, will berth at the Greenview Development Nigeria Limited, Terminal E, Lagos Port Complex, with 45,500 metric tons of the commodity. A Central Bank of Nigeria (CBN) monthly compilation of funds used for sugar imports revealed that Nigeria had already imported $227 million worth of sugar between January and July 2016. The amounts are for raw sugar, chemically pure glucose and glucose syrup not containing fructose. Already, local production of the commodity has dropped to 70,000 metric ton, this year, a decline of over seven per cent from the 2015 estimate of 75,000 tons. As demand surges, it was learnt that about 250,000 hectares of land would be needed for sugarcane cultivation in the next 10 years to meet the country’s demand.

However, findings revealed that the current domestic supply had not met the rising demand in the country despite the incentives offered by the Federal Government to boost local production. Government had revised the sugar tariff structure to boost domestic raw sugar production and employment by offering a zero per cent import duty on machinery and spare parts for local sugar manufacturing firms. Also, it offered a five-year tax holiday for investors in the sugar value chain, 10 per cent import duty and 50 per cent levy on imported raw sugar; 20 per cent duty and 60 per cent levy for imported refined sugar. In addition, three-year concessionary tariff of five per cent import duty and five per cent levy on imported raw sugar were imposed between 2013 and 2015 on the refineries, which signed-on to Federal Government’s Backward Integration Pro-

gramme (BIP). In 2015, raw sugar imports were estimated at 1.345 million metric tons, an increase of 5,000 metric tons over that of 2014. Meanwhile in the last seven years, the country imported 9,975,000 metric tons of the commodity through the Lagos Ports Complex. According to the Nigerian Ports Authority (NPA)’s data, in 2008, some 1,485,000 metric tons were ferried to the country; 2009, 1,185,000 metric tons; 2010, 1,431,000 metric tons; 2011, 1,495,000 metric tons and 2012, 1,399,000 metric tons. Study by the National Sugar Development Council (NSDC) has revealed that Nigeria would need $1.238 billion to meet 49 per cent or 860,000 metric tons of the total sugar demand by 2020. The country still depends on refined imported raw brown sugar from Brazil worth over $500 million annually.

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

BUSINESS | Movers, Shakers and Appointments

Kano hires first female AG after 49 years

ano State Governor, Dr Abdullahi Ganduje, has appointed, Mrs Aisha Bello Muhammad as the first female Accountant General of the state. Muhammad is the first woman to be appointed to the position in the last 49 years history of the state.

In a statement by the state’s Information Commissioner, Muhammad Garba, Muhammad’s appointment was with immediate effect. The erstwhile acting Accountant General, Ibrahim Kura, retains his position as director, Treasury. Until her appointment,

she was the commissioner of planning and budget in the state. Muhammad, who was born in 1965 is a graduate of financial management and accounting. She has held several managerial positions in First Bank of Nigeria and Habib Nigeria Bank.

Total Nigeria gets chair

Mittleman

otal Nigeria Plc has appointed Mr Stanislas Mittleman as its new chairman. Mittleman, a graduate of France’s EDHEC Business School according to a statement, has already been appointed as senior vice president, Africa/Middle East, Total Marketing and Services in April 15, 2016. According to the statement, Stanislas began his career in 1987 in the retail division of Total France. In 1990, he became the retail development manager in Total Nigeria Plc. He went back to France in 1993 to join the finance division in Total Outremer. Between 1994 and 1997, he was deputy general manager, in charge of marketing and finance in Vietnam LPG Co. He was appointed managing director, TotalGaz Philippines in 1997. Between 2000 and 2007, he held various management positions in France, Zimbabwe and the United Kingdom. In 2008, he was appointed vice president West Africa, Total Marketing and Services, Africa/Middle East. Between 2012 and 2015, he was appointed head of M&A and corporate planning, Total marketing and services, strategy division and president, Total marketing France respectively.

APGC appoints executive secretary

he Founder of the Lagos Deep Offshore Logistics (LADOL) base, Ladi Jadesimi, has been elected Chairman of the Niger Delta Petroleum Re-

Jadesimi

sources Limited (NDPR). He took over from Goodie Ibru, the hotel magnate who was the chairman since 2012 and who retired from the board after serving for

10 years, a statement from NDPR has said. A graduate of Oxford University (Jurisprudence, 1966) and Fellow of the Institute of Chartered Accountants, England and Wales, Jadesimi is former partner of Arthur Anderson in Nigeria. After over 15 years of practice as a Chartered Accountant, Jadesimi according to the statement, took early retirement from practice to engage in private business, primarily in banking, oil and gas and real estate. In 2000, he started planning a state-of-the-art logistics and engineering base west of the Niger Delta. “LADOL was conceived and designed to be an efficient, custom-built, fully integrated, secure and independent engineering and logistics base operating 24/7 in the LADOL Free Zone for deep offshore oil and gas projects”, the company stated on its website. Apart from NDPR and LADOL, Jadesimi serves on the board of several companies, including First City Monument Bank (FCMB), as a non-executive director.

Lender names general counsel

he Board of Directors of Skye Bank has approved the appointment of Babatunde Osibodu as general counsel of the Bank. In a statement by the bank, Babatunde was a partner at the law firm of Osibodu & Balogun, prior to his appointment. He has over 30 years of experience in legal practice in Nigeria and the United Kingdom, having worked as a partner at the law firms of Miles & Partners, Addie & Co, and Regency Solicitors, all located in the City of London.

The general counsel will assume the role of the company secretary/legal adviser of the bank. “He has proven expertise in advising on all aspects of corporate governance issues and vast experience in handling complex large scale multi-party commercial transactions and litigation cases. The statement said: “The Board and Management of the Bank is assured that the appointment of Mr. Babatunde Osibodu as the Bank’s General Counsel will be instrumental to achieving its goals.”

Bottling company announces MD

Polymenakos

igerian Bottling Company Limited (NBC) has appointed George Polymenakos as its managing director. He succeeds Ben Langat, who joined NBC as chief finance officer in 2009, and was appointed as managing director in 2012, a statement from the company by its legal, public affairs and communications director, Sade Morgan, said. The new managing director started his career in 1998 with Coca-Cola Hellenic in Greece as a graduate trainee. Until recently, Polymenakos was regional general manager for Coca-Cola Hellenic Bottling Company (CCHBC) for Moscow and Russia. The company said it

was pleased to have the leadership of someone as broadly experienced as George Polymenakos in the on-going transformation phase of its business. In 2003, Polymenakos moved to Chipita, an innovative snacks and confectionary company, as commercial development manager for Greece and rose to the position of country manager in Russia, overseeing all functions of the company. He returned to Coca-Cola Hellenic Bottling Company in 2011, as regional general manager for the north west region and subsequently regional general manager for Moscow, the biggest business unit in Russia. During the last five years he successfully led numerous change management projects and infrastructure optimisation.

APGC appoints executive secretary

he Association of Power Generation Companies (APGC) has appointed Mrs. Joy Ogaji as its pioneer executive secretary. The association is a nonprofit and non-political organisation formed to provide a platform to discuss issues of common interest relevant to the Nigerian electricity generation industry. Ogaji, according to a statement from the association, holds a first degree in law (LLB) from the Rivers State University of Science and Technology, Port Harcourt, a bachelor degree in Law from the Nigerian Law School and master de-

gree in environmental law (LLM) from De Montfort University, Leicester, United Kingdom Her doctorate degree (PhD) from Warwick University, UK focused on the viability of applying alternative dispute resolution (adr) processes in the oil and gas sector in Nigeria. Ogaji according to the statement, belongs to a number of professional bodies such as the Institute of Chartered Mediators and Conciliators (Nigeria), Law Society of England and Wales (UK), Nigerian Bar Association (NBA) and Mediation Beyond Borders (MBB) United Kingdom.

BUSINESS |Stock Watch

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

Sovereign Trust: Expenses, harsh milieu hit earnings Sovereign Trust Insurance Plc, like other insurers in the country, has continued to struggle with challenges posed by operating environment, Chris Ugwu writes The challenges espite the recapitalisation of insurance firms in 2007, the insurance sector still struggles with challenges such as under capitalisation of existing industry players, dearth of appropriate human capital and professional skills, poor returns on capital, existence of too many fringe players and poor asset quality. Other challenges include prominence of unethical practices, significant corporate governance issues, insurance premium flight, poor business infrastructural facilities, especially in the area of ICT, lack of innovation in product development, lack of awareness on the part of consumers on the uses/suitability of insurance products, low gross domestic product, GDP, per capita figures and poor corporate governance structures. Despite these challenges, the country is under daily threat from not only risks emanating from natural disasters such as floods and rainstorms but also that of man-made security risks such as current threat of Boko Haram, resurgent of militants in the Niger Delta, kidnapping and other heinous crimes, which are more compelling reasons why insurance should grow. But penetration still remained a challenge, owing to the culture and the general mind-set of people to insurance. This negative perception that trailed the sub-sector has retarded the growth of the industry, leading to the inability of about 85 per cent of the companies in the industry to pay dividend to shareholders for many years and also performing poorly in terms of share prices. Of all the companies currently trading at par value of 50 kobo, insurance companies dominated with about 21 in number. Market watchers attributed the inability of the sub-sector to rise above the nominal level to crisis of confidence. Sovereign Trust Insurance Plc, which has sustained resilience in terms of improved bottom line, recently came under pressure of harsh operating milieu even, as it is among the group of firms that have remained at par nominal value of 50kobo in share price. The insurer, which closed the 2015 financial year in a positive note with 97 per cent growth in profit after tax and also began the first quarter ended March 31, 2016 with record of profit after tax of N215.507 million from N179.574 million recorded in the previous year, was unable to sustain the

upswing, as the half year financials ended on the southward trajectory. Analysts believed the harsh operating environment and claims settlement might have contributed to the drop in earnings. The share price, which closed at 50 kobo per share in September 31, 2015, remained stagnant. At the close of business last Friday, the company’s share price stood at 50 kobo year-to-date. Financials Sovereign Trust Insurance Plc ended the year 2015 with an impressive result, posting 97 per cent growth in profit after tax. In filing with the Nigerian Stock Exchange (NSE), the firm posted a profit after tax of N582.209 million as against N294.943 million posted in 2014, accounting for 97 per cent growth. Profit before tax grew by 40 per cent to N454.846 million during the full year ended in contrast to N326.021 million reported in 2014. However, gross earnings dropped marginally by two per cent, from N7.286 billion in 2014 to N7.132 billion in 2015. Sovereign Trust began 2016 with 20 per cent growth in net earnings for the first quarter ended March 31, 2016, to N215.507 million from N179.574 million recorded the previous year, accounting for a growth of 20 per cent. Profit before tax stood at N240.285 million from N205.277 million reported in 2015, representing a growth of 17 per cent. The insurer reported 97 per cent growth in profit after tax during the full year ended 2015, from N294.943 million in 2014 to N582.209 million in 2015. Profit before tax stood at N454.846 million during the full year 2015, from N326.021 million a year earlier. Gross premium written however, declined marginally by two per cent from N7.286 billion in 2014 to N7.132 billion in 2015. However, dwindling fortunes of the insurance firm, which has maintained resilience among its peers, came into the second quarter with a 43 per cent decline in net earnings for the half year ended June 30, 2016. Key extracts of the accounts statement for the first quarter at the Exchange showed profit after

FTN Cocoa Plc. 2015 September 30

N0. 50

October 31

N0. 50

November 30

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December 31

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2016 January 31

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February 29

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He stated that the company has put in place a friendly claim process, which ensures that customers do not go through undue bureaucratic process in getting their claims settled in good time. In the same vein, the Managing Director/Chief Executive Officer of the organisation, Mr. Olaotan Soyinka, noted that over the years, the company’s prompt claims settlement has helped to strengthen the relationship between them and their various customers across the country. “In his words, we do not allow our customers to go through distasteful experience in the process of getting their claims settled. Our processes are hinged on professionalism, speed, ethics and promptness”.

Soyinka

tax of N373.364 million as against N650.111 million recorded the previous year, accounting for a drop of 43 per cent. Profit before tax stood at N400.405 million from N702.358 million reported in 2015, representing a decline of 43 per cent. However, gross premium written dropped by 18 per cent from N4.575 billion in 2015 as against N3.744 billion during the year under review.

Insurance sector would experience positive times, given the various reforms and initiatives introduced by the regulators

Claims settlement The underwriting firm paid out a total sum of N386.933 million as claims in the first quarter of the year 2016. In a statement released by the organisation and made available to the media, the total claims figure was verified by the Industry’s regulatory authority, the National Insurance Commission, NAICOM for the period under review. A rundown of the claims composition paid revealed that Motor Insurance claim recorded the highest figure of N151.401 million followed by general accident accounting for N140.800 million while N78.830 million was paid as claim under fire insurance. Other figures as released by the organisation are N9.900 million for marine & aviation insurance while N6 million was paid as claim under engineering class of insurance. Commenting on the claims payment, the Divisional Head, Technical, Mr. Rufai Tajudeen, noted that the company is totally committed to settling all genuine claims within agreeable periods. In his words, “there is no compromise to claims settlement in Sovereign Trust Insurance and that will always remain so to keep our customers always coming back. Prompt claims settlement no doubt will remain the enduring yardstick for our customers in determining whether we are delivering on our promise or not. We do not intend to fall short of this obligation and we will continually strive to make good our promise at every point in time”.

Forward looking Soyinka stressed the need for insurance practitioners at top management level, to give marketing communications a pride of place in their efforts to promote and entrench insurance culture among Nigerians. He stated this at a marketing parley with members of the sales team of his company in Lagos. He said the importance of marketing communication in promoting insurance in Nigeria, cannot be undermined and should be given a place of priority by practitioners especially those at the decision-making levels. He said this will help in winning more customers for the industry, adding that the industry is capable of generating figures in trillions but insisted that this could only happen when practitioners, collectively approach the business from the standpoint of each-one-tell-one in spreading the gospel and which is what marketing communications is all about. “We can never go wrong in investing in marketing communications either at individual companies’ level or as an industry. The time to act is now; a stitch in time saves nine. “The role of marketing communications cannot be undermined in the scheme of insurance business or any business at that, if the business must outlive generations upon generations. We must take advantage of every money invested in marketing communications as sales executives whenever we are on the field,” he said. He said that if the insurance industry is to grow beyond what it is today in the country, managers of the business, especially those at the helms of affairs must make conscious efforts at promoting their products and services for patronage in the marketplace in finding a voice and place of recognition in the financial and economic space in Nigeria. Conclusion Notwithstanding several challenges posed by harsh operating environment, the insurance sector would experience positive times given the various reforms and initiatives introduced by the regulators, which are expected to strongly impact on the growth of the sector.

DAILY STOCK MARKET REPORT

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

The Nigerian Stock Market Exchange as at August 19, 2016

30 The sudden suspension of insurance distribution through channels not licensed by the National Insurance Commission (NAICOM) is bound to affect the current drive to boost premium income and increased penetration. Sunday Ojeme reports

ast week’s directive by the National Insurance Commission (NAICOM) halting the distribution and sale of insurance by institutions that are not licensed by the commission came at a time industry operators are frantically putting everything in place to improve on penetration. With Nigeria still lagging behind South Africa in terms of insurance penetration in both Life and General arms, especially considering the population and other resources, operators of recent have doubled their efforts to readdress the development by initiating various channels to sell their products. In some cases, some of them have had to issue unconventional discounts otherwise known as rate cutting to attract clients to their business. Operators’ efforts Of recent, the operators have gone beyond the use of brokers and agents in driving their business by aligning with institutions that have huge client base to get interested members of the public insured. The sudden and wide acceptance of mobile telephone use by Nigerians of all ages has received great prominence in this regard. This is besides the established scheme with banks under the bancassurance arrangement, which has suddenly become an issue. NAICOM’s directive Although there had been no love lost between the commission and the Central Bank of Nigeria (CBN) in respect of bancassurance arrangement, the Commissioner for Insurance, Mohammed Kari, finally put the cold war to rest when he said things would now be done according to legal prescriptions. In expressing his view, Kari said all relationships the commission had hitherto accommodated where insurance companies paid commission/fees to banks for insurance transactions; referral or introduction in any guise was no more valid. He said: “Insurance companies utilising or intending to utilise any institution including banks, airlines, online or web-based aggregators shall ensure that those institutions have been licensed by the commission as we have resolved to ensure strict compliance and impose appropriate sanctions

Insurance

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

Evaluating NAICOM’s directive on bancassurance to erring insurance institutions. You are warned accordingly.” He also confirmed that the suspension affected discussions with the CBN on the return of full bancassurance operation into the country’s underwriting sector, adding that the commission was preparing new guidelines and making all efforts to libralise the channels of distribution. Need for authorisation He noted: “Licensing such channels is imperative to protecting the consumers and also to ensuring ethical and orderly practice and in further protecting the credibility of the insurance sector, which are the principal mandate of the commission. “However, the employment of such channels can only be utilised if that institution is licensed by the commission in line with the provisions of the extant law. It is the licensing of those distribution channels that would authorise them to sell, distribute, refer or introduce insurance products through another licensed Insurance entity to their customers and earn a fee or commission. “As you aware, the commission has been in discussion with the Central Bank on the Bancassurance distribution channel for sometime now.” The commissioner, however, said that NAICOM would continue to engage the CBN until all the grey areas were resolved. CBN’s position Prior to the commissioner’s pronouncement, CBN had earlier released an elaborate guideline on bancassurance where the apex bank described the referral model as a system where a bank referred its customers to its partner insurance companies with the bank receiving a commission on each lead closed by the insurance company. As part of CBN’s approval, any bank that intends to offer bancassurance products was required to submit an extract of board resolution approving the bancassurance product by NAICOM and the insurance companies it proposed to partner with. With both regulators now jealously holding on to their individual positions, what is certain is the extant law taking its course above every other thing including penetration and profits. This is despite the fact that operators from both ends had believed in reaping more from the suspended arrangement. Operators’ view While giving his support to the model earlier in an interview, the Managing Director of Law Union & Rock Insurance Plc, Mr. Jide Orimolade, expressed his belief in the ability of bancassurance to boost penetration and also provide a smooth business ground for both industries. “Bancassurance is aimed to drive insurance penetration. In

Kari

It is certain that the intention of the regulator is not to undermine the efforts and creativity

Nigeria, the banking sector has a larger customer base than insurance. So, where there is a bancassurance partnership, it is intended that insurance leverages on the banks customers base,” he noted. He said essentially, both sectors have same customers with very similar profiles. ‘You see each complements the other. For instance, a bank customer who has taken a loan to import goods will need insurance protection for those goods in case of an accident or loss. If there is no insurance cover both the bank and the customer will be negatively affected. So, bancassurance brings both the banking sector and the insurance sector to work together for mutual interest,” he added. Besides the effect on banks, another area that has been affected by the ban is the novel use of telecommunication network to sell insurance products. Telecommunication breakthrough In the last three years, virtually all the telecommunication network providers have joined the insurance product distribution channels. As far back as 2014, just six months after the initiative commenced, NAICOM announced that 100,000 telecoms subscribers on the MTN and Airtel networks were buying microinsurance products every month. The commission confirmed that the number of telecoms subscribers with the products had reached 600,000 within that period. On its part, Airtel offers its airtime-based microinsurance product called Padi4Life in partnership with FBN Insurance, while MTN is offering its own insurance service with Mansard Insurance called MTN Y’ello Cover. FBN and Airtel Nigeria in

a bid to capture the market often woo the public with free cover through their Padi4Life product. The Padi4life is a life protection plan available to only registered Airtel subscribers upon payment of a daily premium of N20. It provides all Airtel subscribers the opportunity to take daily insurance cover for death and permanent disability to the tune of N500,000 for each Airtel line at the subject to a maximum of two lines. The plan covers the life assured in the event of death and total permanent disability arising from both natural and accidental causes. According to the arrangement, the minimum entry age for the life insurance plan is 18 years while the maximum age to enjoy death and total permanent disability benefit is 70 years; thereafter a member shall only be insured for death benefit. Etisalat also launched the Sure4Life package, an insurance product that is airtime-based, with the aim of increasing penetration and improving access insurance in partnership with FBN Insurance Limited. Change in lifestyle Under the life assurance plan, suicide or suicide attempts, intentionally self-inflicted injury or illness, wars and related activities as well as any intentional contravention of criminal laws by anyone acting on behalf of the scheme member with his permission or knowledge are not covered. According to the Managing Director of the company, Val Ojumah, FBN Life through the arrangement intends to efficiently deploy inexpensive and simple insurance protection products across channels and market segments in line with its vision of building the biggest retail insurance business in the country. He said: “FBN Life is pursuing strategic opportunities in partnership with other financial service businesses and mobile network operators on key initiatives to increase penetration and distribution of our products. “We designed this product in partnership with Airtel Nigeria for exclusive distribution to registered subscribers on the network. It is worthy of mention that FBN Life is the first insurance company in Nigeria to embark on this innovative and revolutionary method of selling life insurance protection.” Conclusion From the foregoing, it is certain that the intention of the regulator is not to undermine the efforts and creativity of the operators but a measure to ensure that things are done legally and that whatever commission or fee earned in the course of transaction is directed to the appropriate quarter.

BUSINESS | Insurance

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

‘Operators should respond to changing dynamics’

ollowing the economic downturn, Chairman, Nigerian Insurers Association (NIA), Mr. Eddie Efekoha, has advised stakeholders in the insurance sector to embrace creativity and respond quickly to changing dynamics in the economy. He made this call in Lagos during his investiture as the 22nd Chairman of NIA. Efekoha noted that the insurance sector was directly impacted by these economic disruptions He said it was no longer news that the Nigerian economy is in a technical recession, adding that businesses were facing greater threats principally as a result of dwindling revenues, poor state of infrastructure, lack of power, inflationary trends in all sectors occasioned by the decline in the value of the naira and insecurity with importation and local manufacturing currently at low ebb. He said: “Premium income is declining whilst claims cost and operational expenses are on the rise, thus margins are shrinking. The performances of most insurance stocks on the Nigerian Stock Exchange have been so flat that financial analysts have stopped including most insurance companies in their forecasts. “The times we are in demand internal cohesion and collaborative action. It

therefore behoves on all of us as industry players to respond quickly to the changing dynamics of the market space so that we can remain relevant and betroth a worthy legacy to the future generation of insurers. “It is in the light of these developments in our local market that I have decided to commit the period of my chairmanship to address four critical areas in line with the theme of my administration, which is “Sustainable Market Development through Stakeholder Engagement.” The NIA chair pledged the need to enter into construc-

tive engagement with relevant stakeholders, as this would include the need to share knowledge with judicial officers, magistrates and judges on the workings of insurance business and to fully equip them to respond adequately to the rising cases of fraudulent claims in the market, among other adjudication issues. “We will engage with the legislators in the process of making laws that affect the economy at large and insurance industry in particular. You will all agree with me that they are a major stakeholder whose support the industry

areas of future conflict,” he noted. He, however, commended the Minister of Finance, Ms. Kemi Adeosun, and the National Insurance Commission (NAICOM) for the recent efforts made in this regard. Efekoha also acknowledged the various initiatives of NAICOM towards ensuring a stronger insurance market, saying the Insurers’ Committee, which is a platform for dialogue between NAICOM and the insurance operators on market developments and policy direction, was a step in the right direction.

L-R: Chairman, Pension Fund Operators Association of Nigeria (PenOp), Mr. Longe Eguarekhide; Chief Executive Officer, World Pension Summit (WPS), Chris Battaglia; Director-General, National Pension Commission (PenCom), Chinelo Anohu-Amazu, and Founder, WPS, Eric Eggink at the 2016 World Pension Summit ‘Africa Special’ press conference in Lagos last week

Royal Exchange generates N8.43bn half-year premium income

would require at all times. “The various bills before the National Assembly require concerted efforts to push through the industry position. It is only with the active engagement with the lawmakers that the industry can protect its business interests. “On tax matters, we are all witnesses to the lingering issue of the heavy tax burden imposed on the insurance industry by CITA 2007. This further strengthens the need for us as an association to continually engage with the tax authorities with a view to amicably resolving all the issues and avoiding

oyal Exchange Plc, insurance and financial services group, has generated a gross written premium of N8.43 billion in the first half of 2016 financial year. The amount represents an increase of 34 per cent over the figure of 2015, which stood at N6.28 billion. Net Premium Income for the period amounted to N4.34 billion, with a modest growth of five per cent over that of half year 2015, which stood at N4.12 billion. Total Net Claims paid for the period under review amounted to N1.95 billion, an increase of 42 per cent from half year 2015, which was N1.37 billion. The underwriting firm’s Gross Premium Income also witnessed a growth of 17 per cent over the 2015 figures, with the 2016 figure standing at N6.46 billion, compared to the N5.50 billion generated in the corresponding period in 2015. Commenting on the results, Group Managing Director of the company, Alhaji Auwalu Muktari, said: “The half year results on the top-line items witnessed significant growth, which shows that Royal Exchange as an insurance group, is focusing on its growth objectives set out at the beginning of the year, by partic-

ipating in large-ticket financial transactions, as well as playing in the retail insurance market.” He said that despite the very harsh operating environment being witnessed in the economy today, the company would surpass its financial targets set at the beginning of the year by focusing efforts on aggressive sales of various product and service offerings, increased presence and participation in the retail sales space, reducing operating costs profile and embarking on various expense optimisation strategies. One of the key growth strategies for Royal Exchange Plc, according the GMD, is the proposed listing of a N3 billion bonds on the floor of the Nigerian Stock Exchange (NSE). Auwalu said that in line with the ongoing reforms being undertaken by the regulator, NAICOM, there was need for fresh capital to enable Royal Exchange Plc take advantage of the coming opportunities that will arise in the course of the reforms. He said: “Royal Exchange Plc will in the years to come continue to be an aggressive player in the retail market in Nigeria and will be looking at different strategies to increase its product offering and visibility in the marketplace.”

PenCom set to host World Pension Summit

he National Pen- to galvanise not only the Nige- uptake and the quality of sersion Commission rian pension system but also vice rendered by administra(PenCom) has those of other African coun- tors and regulators of pension concluded arrange- tries towards sustainability in their jurisdictions. She noted that the summit ments to host the third and socio-economic impact. The director general point- would also explore topical edition of World Pension Summit ‘Africa ed out that the 2016 event issues such as pension innoSpecial’ (WPS Africa would focus on development vation, adding that WPS and Special). within the pension space in PenCom would host the secThe event slated for Africa and how takeaway ond edition of the Africa Pennext month in Abuja is from previous editions had as- sion Awards aimed at setting one of the world’s pre- sisted various African coun- the benchmark for Africa’s mier league platforms tries improve their pension pension fund industry. for pension professionals and provides a topPFAs UNIT RATE OR SA A ugust, FUND A2S AT 5th August, 2016 PFAs UNIT Rfor ATE FOR RSA FUND AS FA T 5Rth 016 level environment Unit Value -‐ RSA DATE S/No of PFA Unit Value -‐ RSA DATE the exchange busi- S/No PFA 1 Premium Pension 3.0477 5-‐Aug-‐16 Premium 3.0477 5-‐Aug-‐16 ness insights1 on es- Pension sential “crossroads” in Sterling 2 Crusader Sterling 3.0132 5-‐Aug-‐16 2 Crusader 3.0132 5-‐Aug-‐16 pensions. 2.9845 5-‐Aug-‐16 3 ARM Pension 3 ARM Pension 2.9845 5-‐Aug-‐16 The theme 4 ofLegacy thisPension 4 Legacy Pension 2.2875 5-‐Aug-‐16 2.2875 5-‐Aug-‐16 year’s summit is: “Pen5 Stanbic IBTC 2.8365 3-‐Jun-‐16 5 Stanbic I BTC 2.8365 3-‐ J un-‐ 1 6 sion Innovations: The 6 NLPC P ension 2.6854 5-‐Aug-‐16 6 NLPC P ension 2.6854 5-‐ A ug-‐ 1 6 African Perspective.” 7 Pension Alliance 7 media Pension Alliance 2.6242 5-‐Aug-‐16 2.6242 5-‐Aug-‐16 Briefing the 8 Trust Fund Pensions 2.5928 29-‐Jul-‐16 in Lagos, the8 DirecTrust Fund Pensions 2.5928 29-‐Jul-‐16 tor General, PenCom, 9 Pension First Guarantee Pension 2.5147 5-‐Aug-‐16 9 First Guarantee 2.5147 5-‐Aug-‐16 Chinelo AnohuAma-Pension 10 Sigma Pension 2.5002 5-‐Aug-‐16 10 Sigma 2.5002 5-‐Aug-‐16 zu, said that the theme 11 Leadway Pensure 2.4337 31-‐Jul-‐16 11 Leadway Pensure 2.4337 31-‐Jul-‐16 of this year’s summit 2.3337 5-‐Aug-‐16 12 AIICO pension 12 AIICO pension 2.3337 5-‐Aug-‐16 had been carefully 13 Fidelity Pension 2.1405 5-‐Aug-‐16 Fidelity Pension 2.1405 5-‐Aug-‐16 chosen as the13 commis14 FUG P ension 2.1123 5-‐Aug-‐16 sion seeks to drive into 14 FUG Pension 2.1123 5-‐Aug-‐16 greater prominence, Apt PLension 2.0625 26-‐Jul-‐16 15 Apt the Pension M15 anagers imited M anagers Limited 2.0625 26-‐Jul-‐16 revolutionary 2.0473 5-‐Aug-‐16 16 strides AXA Mansard 16 AXA Mansard 2.0473 5-‐Aug-‐1 6 and achievements of 2.0454 5-‐Aug-‐16 17 OAK Pension 17 OAK Pension 2.0454 5-‐Aug-‐16 African governments 18 Investment O ne P ension M anagers L imited 1 .8731 5-‐Aug-‐16 18 Investment O ne P ension M anagers L imited 1 .8731 5-‐ A ug-‐ 1 6 in the area of pension 19 IEI Anchor PLension 1.8645 30-‐Jul-‐16 19 IEI Anchor Pension Managers imited Managers Limited 1.8645 30-‐Jul-‐16 system. 20 MIGI Pension Fund Managers Limited 1.5219 8-‐Mar-‐16 Pension Fund anagers Limited 1.5219 8-‐Mar-‐16 She said 20 thatIGI the commission also seeks NPF Pensions Limited 1.1557 2-‐Aug-‐16 21 NPF Pensions 21 Limited 1.1557 2-‐Aug-‐16

PFAs unit rate for RSA fund as at 5th August, 2016

BUSINESS | Financial Market News

MONDAY, AUGUST 22, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

19-Aug-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 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 14.50 15-JUL-2021 ^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)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 13-Jul-16 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

15.10 9.85 9.35 10.70 16.00 7.00 15.54 14.50 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.4000

480.13 20.00 100.00 300.00 351.30 233.90 606.43 179.59 605.31 719.99 391.02 75.00 150.00 200.00 591.57 1075.92 250.00

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 15-Jul-21 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

0.69 0.94 1.03 1.78 2.86 3.18 3.48 4.90 5.44 7.57 9.43 12.27 12.75 13.25 13.92 17.91 19.58

18.74 20.61 20.95 18.41 14.74 14.78 14.82 14.95 15.00 15.05 15.24 15.22 15.22 15.21 15.21 15.18 15.12

18.49 20.41 20.77 18.29 14.67 14.64 14.71 14.86 14.92 14.99 15.17 15.16 15.15 15.14 15.14 15.12 15.07

97.67 91.21 89.69 88.68 102.81 80.79 101.90 98.43 105.02 96.18 86.50 98.73 84.79 62.16 70.18 81.45 83.00

97.82 91.36 89.84 88.83 102.96 81.09 102.20 98.73 105.32 96.48 86.80 99.03 85.09 62.46 70.48 81.75 83.30

TOTAL OUTSTANDING VALUE

6,330.16

TOTAL MARKET CAPITALISATION

5,695.86

Rating/Agency

Description

Issuer

6285.155565

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

0.90

03-Apr-17

0.32

2.94

18.47

99.58

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

0.67 0.62 1.37 1.18 1.19 1.38 1.38 1.56 1.77 3.26 1.84 4.27 4.37 2.60 2.62 3.18 3.39 3.24 3.36 6.46 3.50

1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

19.57 23.95 22.20 21.44 21.40 23.60 23.32 22.97 20.47 16.80 19.21 16.19 18.66 18.26 16.67 16.30 18.82 15.79 17.32 16.79 17.86

94.22 94.39 90.70 92.79 92.76 90.06 89.77 90.90 93.18 94.33 93.50 91.86 89.32 92.77 96.66 98.10 94.65 101.65 100.35 100.67 97.85

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

0.11 0.18 0.30 0.67 0.88 1.11 0.79 0.89 1.06 1.06 2.11 1.16 1.50 1.37 2.22 4.24 2.74 5.25 5.36 5.73 3.90 8.11 8.11 9.29

1.00 1.34 1.00 3.55 5.25 1.88 1.88 3.15 6.35 1.00 1.17 4.42 6.11 3.28 4.47 1.00 3.55 2.51 1.00 1.00 2.77 1.00 1.00 1.00

15.80 16.13 16.32 22.12 25.42 22.55 21.40 23.39 27.22 21.87 18.44 24.92 25.48 23.09 21.39 15.89 18.94 17.49 15.99 16.01 17.63 16.11 16.11 16.22

99.61 99.54 99.76 96.59 93.25 90.96 98.34 94.46 92.32 94.88 92.45 91.46 91.40 92.39 89.73 98.01 93.06 89.08 101.56 101.66 95.66 100.75 87.26 94.10

10-Oct-20

2.36

3.37

19.81

91.08

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

0.90

TOTAL MARKET CAPITALISATION

0.90

Sub-National Bonds 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

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

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

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

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

57.00 11.33 25.00 23.44 4.22 9.45 7.01 18.70 12.55 80.00 20.55 87.50 5.00 3.74 3.76 14.37 4.17 4.53 27.10 3.00 7.34

429.75 402.90

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds A+/Agusto; A-/GCR A-/Agusto; A-/GCR 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 0.36 3.60 1.82 0.50 35.00 1.50 0.23 4.50 20.87 2.05 9.76 26.00 30.50 30.00 10.00 0.10 15.44 7.86

TOTAL OUTSTANDING VALUE

536.02

TOTAL MARKET CAPITALISATION

514.29

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

9.02

TOTAL OUTSTANDING VALUE

9.02

TOTAL MARKET CAPITALISATION

8.22

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.48

1.00

17.76

90.53

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

2.70

1.00

14.30

93.50

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 22.97 Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

6.06

5.82

102.66

103.57

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.48

3.98

101.16

102.06

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.37

6.19

100.02

101.00

100.05

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,519.15

Corporate Eurobonds B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.18

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

21.79

19.67

79.58

82.13

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

5.99

100.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.72

96.50

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

22.40

73.03

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

16.18 15.20 16.14

16.18 14.52 16.14

77.00 79.65 72.50

77.00 81.65 72.50

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

Outstanding Value (₦’bn)

Maturity Date

DTM

Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

16.80

18-Oct-16

2.03

16.82

16.37

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,150.00 2,705.50 Description

Issuer

Issue Date

Yield @ Issue (%)

18-Apr-16

11.00

Commercial Papers UACN PROPERTY DEVELOPMENT COMPANY PLC

A-/Agusto

UPDC CP 18-OCT-16

TOTAL OUTSTANDING VALUE

16.80

**TREASURY BILLS^ DTM 13 20 34 48 55 62 69 76

FIXINGS Maturity 1-Sep-16 8-Sep-16 22-Sep-16 6-Oct-16 13-Oct-16 20-Oct-16 27-Oct-16 3-Nov-16

Bid Discount (%) 17.03 14.52 14.19 16.64 14.67 14.80 14.61 16.45

Offer Discount (%) 16.78 14.27 13.94 16.39 14.42 14.55 14.36 16.20

Bid Yield (%) 17.13 14.63 14.37 17.01 15.00 15.18 15.02 17.03

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 25.5417 17.2781 18.1919 20.2318

Tenor

Rate (%)

OBB

23.00

O/N

25.58

Tenor Call 1M

REPO

Rate (%) 24.50 21.50

Foreign Exchange (Spot & Forwards) Tenor

Closing Rate ($/N)

Spot 7D 14D 1M 2M 3M

316.55 334.52 334.87 336.12 338.28 340.91

FGN Bonds