Monday, july 13, 2015 2 binder1 by Newtelegraphonline

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Vol. 2 No. 509

Monday, July 13, 2015

/newtelegraph

@newtelegraph1 www.newtelegraphonline.com

N150

12 pages of international new york times }23 N230bn fuel debt: Banks mull cash, collateral recall Business lNNPC's 90-day payment window divides fuel traders Adeola Yusuf

anks and other lenders would soon begin to recall their loans and collateral from fuel marketers as

their debts and interests have hit N230 billion, New Telegraph has learnt. The development emerged on a day marketers declared that their subsidy claims from

the government is now N291.7 billion, alleging that the Federal Government's delay in subsidy payment may soon run many of them out of business. New Telegraph gathered at

the weekend that some lenders have already written letters notifying the marketers of plans to recall their cash if commitment of payment is not CONTINUED ON PAGE 6

Nigeria's crude revenue from India hits N175bn in May }21

Reason Gbajabiamila can't be majority leader

lN'Assembly leadership crisis delays constitution of committees

QuickRead

Church congregation escape death }7 in Jos

Goje's expulsion, illegal –APC }9 No bank alert, no resumption, Osun workers insist }46 L-R: Managing Director, Euromoney, Mr. John Orchard; Group Treasurer, Access Bank Plc, Mr. Dapo Olagunju; the bank's Group Managing Director, Mr. Herbert Wigwe and Editor, Euromoney, Mr. Clive Horwood, at the Euromoney Awards for Excellence 2015, where Access Bank won the Best Flow House in Africa award, in London...at the weekend

Umahi: Salary cut not panacea to Nigeria’s woes }6 lEx-president, APC chief sponsor different candidates for post }2

Lobby to oust Customs boss begins

News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Reason Gbajabiamila can't be majority leader Ayodele Ojo and Philip Nyam

n ego war, arising from a spurned offer, which has pitted House of Representatives Speaker, Hon. Yakubu Dogara, against his rival for the speaker-

ship, Hon. Femi Gbajabiamila, is at the heart of the current impasse over the emergence of principal officers, New Telegraph has learnt. Sources said at the weekend that the failure of Gbajabiamila, who lost the speakership to Dogara by marginal votes

of eight, to yield to the demand of having Dogara as his deputy when the odds favoured the former Minority Leader to emerge as speaker, is at the root of the current impasse in the House. Despite a directive by the All Progressives Congress (APC) that Gbajabi-

amila should be the Majority Leader, the speaker and his supporters have kicked against it. After a series of peace talks, the speaker's group, last week, shifted ground a bit by conceding the position of House Leader to the Gbajabiamila group, but with a proviso that

the former minority leader should not be the one to take the post. But the Gbajabiamila group has rejected the proposal, insisting on the sanctity of the APC list of principal officers sent to the House. Following the impasse, the two opposing groups

L-R: Borno State Deputy Governor, Alhaji Zannah Umar Mustapha; the governor, Alhaji Kashim Shettima and Managing Director/CEO, Med-View Airline, Alhaji Muneer Bankole, on arrival at the Maiduguri International Aiport, during the inaugural flight of Med-View Airline on the Lagos-Abuja-Maiduguri route, in Maiduguri…at the weekend.

Lobby to oust Customs boss begins Donald Ojogo Abuja

he race to succeed the Comptroller General of Customs, Alhaji Abdulahi Dikko Inde, has begun amid uncertainty over his tenure. Although it is unclear if President Muhammadu Buhari would remove him just as he is expected to oust other heads of arms of the military and paramilitary agencies, New Telegraph gathered at the weekend that some influential people have lined out their preferred candidates they would want the president to pick as Inde's successor. It was learnt that a former president and an influential member of the All Progressives Congress (APC) were pressuring the president to unseat Dikko, whose tenure was renewed in 2013. The duo, a source confided in New Telegraph, is pushing forward different candidates as a replacement for Inde. The source said the APC chieftain and the former president became interested in the succession race after learning that Buhari might have agreed to

allow the South West to fill the CG’s slot, whenever it became vacant. Dikko, from Katsina State, was first appointed as Comptroller General of one of the nation’s income spinners in August 2009 by the late President Umaru Musa Yar’Adua. But Buhari, who is said to be undecided about Dikko as a result of pressures from his kinsmen to retain him, is set to carry out a comprehensive overhaul of the nation's security and paramilitary services. The Presidency has, however, described the report as speculative. ‘Speculation needs no reply’, Presidential Adviser on Media and Publicity, Femi Adesina replied in a text message to our correspondent on the issue. The source said while the former president was rooting for Dr David Olusegun Agbaje, the APC bigwig was pushing for Mr. Ade Dosunmu, a Lagos prince, as a likely successor to Dikko. Both Agbaje and Dosunmu, aside from being from South West, are Assistant Comptrollers-General of Customs manning various strategic divisions in the agency.

“When people talk of the president being too slow, they do not seem to understand that care has to be taken when appointments are to be made. “For instance, some people from my zone came to me to insist that certain positions in some government agencies should be conceded to us, but you see, the intricacies of governance are such that the more you are hopeful, the less likely you are going to get the position due to certain factors. “In the case in point, that is the Customs issue, our people need to know the details of the politics there. Yes we are good to go, but not good to have it for some reasons. “It is true we came to power as a party, but there are certain powerful forces in the country that contributed immensely to the change of government that we now have. Can you ignore such people in any way? Certainly not. “That is why, rather than just saying the next in rank should be this and that, it is just impossible because there are deep rooted issues when we talk of things like that,” the source said.

According to him, the next CG may come from the South-West as it appears the president has already made some commitments in that regard. “The thing is like a fait accompli; the South-West might take it and the two big men (former president and APC bigwig) are already on each other’s throat for it; they want their choices which is understandable in lobbying”, he stated. But he expressed fears that Inde’s successor might not spend up to three years. "I suspect that whoever comes in eventually might just spend less than three years and the thing returns to the North,’ he said. If the lobby sails through, the six Deputy Comptrollers-General of the service would be eased out. They are Ibrahim Mera from Kebbi State (North-West), Gabriel Aliu from Kogi (North-Central) and Tahir Musa from Yobe (North-East). Others are Chukwuma Nwosu from Enugu State (South-East), Ade Adewuyi from Oyo (South- West) as well as John Atte, from Bayelsa (South-South).

Also likely to be affected are rank mates of both Agbaje and Dosunmu in case either of them is considered by the president. Those in this category are Dan Ugo from Benue, Patience Iferi from Cross River, Austin Warikoru from Bayelsa, Robert Alu from Nasarawa State; Paul Ukaigwe, Imo; Ahmed Mohammed, Jigawa; Adesina Odunmbaku, Lagos State; Bello Liman from Sokoto State, Monday Abueh from Rivers state and Ifeoma Okoli, Anambra. Agbaje, who holds a PhD in English Studies, had served in various capacities in the Customs before he was promoted to the position of an Assistant Comptroller-General in January 2010. Agbaje will be due for retirement on October 13, 2017 when he would have attained the mandatory 35 years in service. On his part, Dosunmu, considered within the service as equally brilliant, is lower in years of service than Agbaje. He is younger and has more years to serve in the Customs, having just been promoted to the rank of ACG in 2013. He has a minimum of five years to go in service.

are calling for election for the emergence of the principal officers. It was also learnt that the leadership crisis rocking the two chambers of the National Assembly, Senate and House, has stymied efforts to constitute committees by the legislature. According to sources, when former Governor of Lagos State, Senator Bola Tinubu, enlisted the support of the then Speaker and now Governor of Sokoto State, Hon. Aminu Tambuwal, to make Gbajabiamila speaker of the Eighth National Assembly, the deal was to have Dogara as the deputy. "Tinubu contacted Tambuwal to help with the project. Initially, Tambuwal expressed doubts about Gbajabiamila's ability to manage the affairs of the House without being impeached. This is based on his not too cozy relationship with his colleagues. "Notwithstanding, the APC national leader asked Tambuwal to do this for him. The governor met with Dogara and his group to accept the deputy speakership, which they accepted. But Gbajabiamila rejected the arrangement on the strength that his group had adopted Mohammed Monguno from Borno State. That was how the alliance broke down," a lawmaker privy to the deal told New Telegraph. Tinubu was said to have been assured that without Dogara, the Gbajabiamila speakership was a done deal. The last attempt by the Dogara group to broker a deal with Gbajabiamila failed on June 5 when the leadership of the APC conducted a mock election. With most APC members-elect on the side of Gbajabiamila, Dogara knew he could not win the mock election. At the venue of the election, Dogara again offered to be Gbajabiamila's deputy. Again, Gbajabiamila turned down the offer, the source added. "We had already picked Monguno as deputy, so there was no way we could adopt Dogara as deputy. This is strictly based on trust. As at that time, we were confident of winning. That informed our decision," a pro-Gbajabiamila lawmaker told our reporter. Gbajabiamila had earlier rejected Hon. Abdulmumini Jibrin as deputy. A press conference to CONTINUED ON PAGE 4

NEW TELEGRAPH MONDAY, JULY 13, 2015

News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Buhari must probe PDP govt over NLGN dividends – APC Johnchuks Onuanyim Abuja

he All Progressives Congress (APC) has called on the Federal Government to probe the Peoples Democratic Party (PDP) government over payment of dividends by the Nigerian Liquefied Natural Gas (NLNG) as well as the Company Income Tax/Education Tax. ''The revelations concerning the deep rot in the system that will come in the weeks and months ahead will shock even the most ardent critics of the Buhari administration's salvaging efforts,'' APC said in a statement issued yesterday by its National Publicity Secretary, Alhaji Lai Mohammed. The party also accused the opposition PDP of grandstanding in its bid to distort the facts about the source of the $2.1 billion that was approved for sharing by the three tiers of government by President Muhammadu Buhari. PDP had alleged that the $2.1 billion bailout funds for states was part of the savings of the Goodluck Jonathan administration. APC said: “We can tell Nigerians that apart from the said $1.6 billion NLNG payment for 2015, NLNG also paid $1.4 billion as Income Tax/Education Tax in May 2014, paid $0.3 billion as Education Tax to the Federal Government in 2011, 2012 and 2013 and $1.2 billion in Value Added Tax (VAT) and Withholding Tax to the Federal Government since 2009. These payments are just those made in the past six years alone, hence there

were other payments before then. “In addition, dividend payments totalling $4,728,136,946 was paid to the Federal Government between 2004 and 2009, out of which only $127,851,348.19 was credited to the FG's Independent Account with JP Morgan, leaving a balance of over $4 billion. The questions to ask, therefore, are why all the past taxes and dividends were neither fully paid into the Federation Account nor shared by the three tiers of government and what happened to the funds." According to the party, since President Buhari has started to ensure that all funds due to the Federation Account are paid in there as well as plugging all financial leakages, it is important to let Nigerians know why all due funds were not paid into the Federation Account in the past and what happened to such funds. The party also said that as part of the investigation, the PDP must be asked where it kept the $5.5 billion which it said was the dividend paid to the central government by the NLNG before the May 29 handover. ''Since, according to the PDP, President Goodluck Jonathan asked that the money be 'left for the incoming administration to manage'. it is important for the party, therefore, to tell Nigerians in which account the money was 'saved' because it is definitely not in the Federation Account,'' it said. APC insisted that for any opposition to be credible, it must not only be factual and truthful, it must

Boko Haram: Military returns to checkpoints Onyekachi Eze ABUJA

ilitary high command may have decided to re-introduce military checkpoints to contain the resurgence of Boko Haram in the country. President Muhammadu Buhari had, two weeks ago, ordered the dismantling of military checkpoints across the country except in frontline states. But following series of bomb attacks in some states in the Northern part of the country, the Inspector-General of Police, Mr. Solomon Arase, ordered police personnel to embark on stop and search along the highways.

It has been discovered that military personnel have equally returned at some checkpoints where they had earlier been withdrawn. New Telegraph observed that military has mounted checkpoints along Nyanya - Keffi road, two weeks after such had been dismantled. Also military personnel have been posted at worship places while use of metal scanners on worshippers have been reintroduced. Parish priest of St. Mary's Catholic Church, Karu, a suburb of Abuja where worshippers are being subjected to stopand-search, appealed to members to co-operate "because of the security situation in the country."

eschew pandering. ''Had the PDP embraced these cardinal principles, it would not have, in the rush to belittle the package that was approved for the states by President Buhari and to discredit his administration, engaged in outright lies and selective perception. While the PDP became fixated on the source of the money shared by the states, it forgot that there

were other measures in the package that included a special intervention fund of between N250 billion and N300 billion from the Central Bank of Nigeria (CBN) as a soft loan available to states to access for the purposes of paying backlog of salaries. “The PDP also forgot the debt relief programme designed to assist the states to restructure their

commercial loans of N660 billion, with a view to extending the life span of such loans and reducing the states' debt-servicing expenditures. That way, the states are freed from their perennial inability to pay workers' salaries, and more funds are available to the various governments to use for the benefit of the people. “They have forgotten

that the only time in the country's history that this kind of rescue package was made was also during the tenure of Buhari as military Head of State,'' the party said. It advised those who are distorting facts to tarry a while, as what they are seeing is just the first step in a long journey to clear the rot left behind by years of purposeless governance.

L-R: Wife of the General Overseer, Foursquare Gospel Church, Mrs. Bisi Meduoye; Special Adviser to the President on Media and Publicity, Mr. Femi Adesina; his wife, Nike; the church's General Overseer, Mr. Felix Meduoye and former Deputy Governor, Central Bank of Nigeria (CBN), Mr. Tunde Lemo, at a thanksgiving service in honour of Adesina in Lagos…yesterday. PHOTO: SULEIMAN HUSAINI.

N'Assembly leadership crisis delays constitution of committees CONTINUED FROM PAGE 2

announce the alliance was cancelled at the last minute. Today, Jibrin is one of the arrowheads of Dogara group. He is the spokesman of the group. A senior member of the APC confirmed to New Telegraph that the rejection by the Gbajabiamila group informed the current resistance by the speaker to have his rival as the House Leader. "The position of leader of the House is sensitive. You can't have your major opponent as the occupant of the office. Dogara will rather prefer someone else than having Gbajabiamila as the leader. If Dogara had not won the election, he would have lost out. So, this is just a payback time. For someone to have denied him the privilege of serving as deputy speaker, there is no basis to have him as a principal officer," a proDogara lawmaker said. But a member of the House cited the case of Tambuwal and Hon. Mulikat Adeola-Akande in the Seventh Assembly. The duo contested for the speakership. While Tambuwal emerged speaker in 2011,

Hon. Adeola-Akande was the choice of the Peoples Democratic Party (PDP) for the Majority Leader and she was accepted. However, the argument of the Dogara group against the AdeolaAkande’s comparison is that the scenario did not deprive any of the six geopolitical zones of representatives in the principal officers produced by the majority party in the House. They added that the South-West has already produced Dogara's deputy in the person of Hon. Yusuf Lasun and if Gbajabiamila should emerge the House Leader, the geopolitical zone will have two slots in the principal officers' positions while the North-Central, which also contributed immensely to the APC electoral success will have no representatives. Meanwhile, more than a month after the National Assembly was inaugurated, both Senate President Bukola Saraki and Dogara are yet to constitute standing committees due to absence of selection committees. The selection committee is responsible for the nomination of members

into standing committees of each chamber. Although, the standing orders of the two chambers stipulate that some special committees shall be established within the first 30 days after the first sitting, the presiding officers are handicapped because the selection committee is composed of principal officers yet to be decided, particularly in the House. The committee on selection consists of all presiding and principal officers and other members representing the six geopolitical zones. Although the Senate president, two weeks ago, announced principal officials, he can't appoint chairmen and member of standing committees. Besides, the leadership as announced by the Senate president, is still being contested by the APC. Dogara, on the other hand, has set up five ad hoc committees without the selection committee because they are engrossed in a tussle over the constitution of majority principal officers. Order 18 Rule 118 (1) states that "there shall be a committee on selection appointed or consti-

tuted at the commencement of every assembly to perform the functions allocated to it by these rules, and for such other matters as the House may from time to time refer to it." Order 118(2) of the rule says "the committee on selection shall consist of the speaker, deputy speaker, House leader, House whip and minority leadership; provided that the speaker, if the need arises, may co-opt other members into the committee and shall, by so doing, reflect the equality of the geopolitical zones" According to Rule 118 (4) (a) to (d) "the committees’ jurisdiction shall cover nominating members to serve on standing committees and special committees; nominating such members as may be going on parliamentary delegations other than committees; monitor, review and evaluate, at least quarterly, the performance of committees, chairmen and deputy chairmen of committees." It was learnt that until the leadership crisis is resolved, the legislature may not function optimally.

NEW TELEGRAPH MONDAY, JULY 13, 2015

News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Umahi: Salary cut not panacea to Nigeria’s woes Kunle Olayeni Abeokuta

bonyi State Governor Dave Umahi yesterday dismissed the gale of salary cut by political office holders in Nigeria, saying the gesture was not the panacea to the myriad of problems facing the country. He said rather than engaging in reduction of “meagre” salaries, political leaders, including governors, should desist from cheating the people and mismanaging state resources. He said this in an interview with reporters during a visit to former President Olusegun Obasanjo at the latter’s Presidential Hilltop Estate residence in Abeokuta, the Ogun State capital. The governor’s position came on the heels of the recent announcement of 50 per cent reduction in salaries of President Muhammadu Buhari, Vice President Yemi Osinbajo and some state governors in view of the nation’s economic problems, dwindling oil revenue and public outcry for cut in cost of governance. But speaking after his

meeting with Obasanjo which lasted about 45 minutes, Umahi noted that the major concern of Nigerians is for political office holders to deploy the nation’s resources judiciously and give the citizenry what is due. He said: “If you cut 50 per cent of your salary, that is not where the issue is. The major issue is to be honest to the people. It’s to deploy the resources God has given the people; don’t cheat them, don’t steal their money. “What we take as political leaders, what is due to us is really very meagre. I earn about N600,000 a month; so if I cut it down to 50 per cent, that’s N300,000. That is not the kind of money the society is looking for. They are asking: whatever is due to us, give it to us and I believe in that.”

Umahi disclosed that his administration had already taken decisive steps to enhance the growth and development of the state by bringing in investors and auditing the state workforce. He also restated the position of South-East governors on the transfer of Boko Haram suspects to prison facilities in the zone, saying the governors had already engaged the Federal Government in talks to address the situation. “I think the issue remains that we don’t want Boko Haram in SouthEast. By the nature of our people, there is no reason to bring them to SouthEast,” he added. However, the governor had during his response to Obasanjo’s remarks earlier praised the leadership style of Buhari, saying

governors of the 36 states of the federation are very happy with the president, who recently approved bailout for cash-strapped states to enable them to pay public sector workers. He told the former president that Buhari had continued to display “forthrightness, rare sense of humility, honesty and the willingness to move the country forward,” adding that his directive to the Nigerian National Petroleum Corporation (NNPC) to stop the operation of many accounts was an indication. Umahi solicited the continuous support of Obasanjo and other wellmeaning Nigerians for the new administration. He said: “We see a great nation in Nigeria. And I use this opportunity to thank Mr. President and to say one of the greatest

things that will move this nation forward is forthrightness and Mr. President has displayed that. “In our meetings, we (governors) are very pleased with him. It’s not a question of being in this party or being in the other party. He displays rare sense of humility, honesty and the willingness to carry this country forward. And that’s what we are looking for. We are not interested in which party or the other party. We are interested in the man who has the welfare and the interest of the nation at heart. “His directive to stop many accounts of NNPC, I’m sure you are gladdened because I had discussed that with you and you complained bitterly about the way NNPC was being run; when they keep more money than what they give the

Federal Government. So, we thank you and I want to say sir that you continue to support Mr. President, General Buhari, and I’m very sure with you sir by his side, he is going to deliver in his promises.” Umahi, who described his visit to Obasanjo as “private,” commended the courage and wisdom of the ex-president in piloting the affairs of Nigeria. Earlier in his remarks, Obasanjo applauded the various contributions of the Ebonyi governor and his predecessors to the peace and development of the state. Describing Umahi as his “in-law,” the former president urged the governor to strive towards maintaining peace, upholding the good programmes of his predecessors and correcting those considered inadequate for the society.

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

28o C 24oC Thunder Storms

24oC 17oC Rain Showers

21oC 18oC Storm

34o C 24oC Mostly Cloudy

30o C 23oC Thunder Storms

29o C 23oC Thunder Storms

25oC 22oC Storm

37o C 25oC Isolated Storms

29o C 23oC Thunder Storms

Former Vice-President Atiku Abubakar (right) with the Deputy Imam of the Prophet Mosque, Sheikh Muhammad, during Atiku's visit to the cleric, in Medina, Saudia Arabia...at the weekend.

NNPC's 90-day payment window divides fuel traders CONTINUED FROM PAGE 1

established within a given period. The cumulative loan for fuel importation is now about N230 billion, the chief executive officer of one of the fuel trading companies said, adding that lenders have told some marketers that certain "actions may be taken to recall their cash, especially now that hope of payment lingers, while interest continues to accumulate." Nigeria, one of Africa's top producers of crude oil, subsidises gasoline and other fuels. The country must import the bulk of the 40 million litres a day that it consumes owing to a neglected refining system. Executive Secretary, Depot and Petroleum

Products Marketers’ Association (DAPMAN), Mr. Olufemi Adewole, told New Telegraph at the weekend that the fuel importation has now been made tough for marketers because banks are now reluctant to extend credit line to them. Members of the DAPPMAN, Adewole said, were no longer importing petrol. He said: “At DAPPMA, what I can tell you is that since the tanker drivers called off their strike, we have not resumed importation. Our money is still outstanding and in fact, banks have not fully opened their credit lines to us. “We are still being owed and as of May 29, the total debt owed all marketers was N291.7 billion. Banks

have yet to fully reopen credit lines to all our members, hence we have not been importing as much as we should.” The Nigerian National Petroleum Corporation (NNPC) had, penultimate week, said it had enough stock of petrol to service the country for 25 days at a national consumption rate of 40 million litres per day. Acknowledging that the NNPC had been coming up with a lot of statements about its stock of petrol, the DAPPMAN secretary said its members could not verify the corporation’s claim, as fuel queues have continued to re-appear and vanish. While marketers now depend on NNPC for products’ supply, our cor-

respondent gathered that the 90-day window given to major marketers to pay for fuel lifted is causing bickering among them and their counterparts at the Independent Marketers Association of Nigeria (IPMAN). NNPC sells product to IPMAN members on cashand-carry basis, a decision seen by some members as discriminatory and antilocal content. The source blamed lack of cooperation among IPMAN members for the "injustice in the hand of the NNPC.” He said: "The majors have three months to pay for fuel lifted from NNPC, but our members do not. This is causing bad blood, I must tell you.”

An acute fuel shortage crippled Nigeria last April and May, as fuel importers shut their depots to press home their case. Importers were worried that the new government, elected in March, would not honour the debts incurred on fuel subsidy and foreign exchange differentials. Spokesman for IPMAN, Mr. Yakubu Suleiman, however, said last Wednesday that the government had agreed to a meeting between its representatives and the marketers to pay N159 billion subsidy debts. "They agreed to pay the remaining balance last week. Nothing has come yet, but maybe this or next week. It's N159 billion ($800 million),” Suleiman said.

News

NEW TELEGRAPH MONDAY, JULY 13, 2015

Church congregation escape death in Jos lBoko Haram attacks Niger prison, four killed

Musa Pam Jos

wo bombs were yesterday discovered at the Evangelical Church Winning All (ECWA) in Tudun Wada area of Jos

North Local Government Area of Plateau State near Federal Secretariat, Jos. New Telegraph learnt that worshipers were in the church for the service when the devices were discovered. The spokesman of the Special Task Force (STF),

Capt. Ikedichi Iweha, said one of the bombs was kept in the toilet of the church while the other was hidden in the church compound. The STF spokesperson explained that the one in the toilet was defused and taken away by security

agents, while the other was controlled before it exploded. He said: “There is no casualty and the place has been cleaned up by our security men,” he said. Plateau State Police Public Relations Officer, DSP Emmanuel Abuh,

confirmed that there was an explosion. According to him, "There was an incident at ECWA Tudun Wada but no life was lost. Other improvised Explosive Device (IED) planted at the premises were detected and evacuated. Security is

L-R: Mr. Austin Umahi; Ebonyi State Governor, Mr. David Umahi; former President Olusegun Obasanjo and his son, Bisoye, during the governor's visit to Obasanjo in Abeokuta…yesterday.

heightened and the situation is under control." He urged residents to be at alert and report any suspicious object or movement of persons to the nearby security agency. A twin explosion killed over 50 persons at Bauchi Road and Yantaya Mosques in Jos last week Sunday. Meanwhile, Boko Haram militants launched an attack on the prison in Diffa, Niger Republic late on Saturday. According to military sources, the attack was to free fellow members of the Islamist group held there. Three of the assailants and one soldier were killed before the attack was repelled, Reuters reported. Boko Haram also attacked the prison in February. "When the attack was repelled, the assailants fled, probably back into the town," one military source said. "We are searching for them." A second military source, according to Reuters, said the attackers may have been residents of Diffa, as no one had seen them enter the town.

Boko Haram: Minimah meets GOCs, other officers Electricity workers oppose Manitoba’s contract renewal Emmanuel Onani

s part of measures to review the ongoing counterterrorism and counterinsurgency war in the North-East with a view to strengthening operations, the Chief of Army Staff (COAS), Lt.-Gen. Kenneth Minimah, will meet General Officers Commanding (GOCs) Army Divisions and other commanding officers today in Abuja. The meeting, which will last between Monday and Thursday, will hold under the auspices of the COAS Second Quarter Confer-

ence. The conference is coming against the backdrop of renewed suicide bomb and gun attacks by Boko Haram in parts of the North. A statement indicating the strategic meeting, was signed by the Acting Director, Army Public Relations (DAPR), Colonel Sani Usman. The statement reads in part: "The Chief of Army Staff (COAS) 2015 Second Quarter Conference will take place from Monday 13 – Thursday 16 July 2015, at the Army Headquarters Command Officers’ Mess, Asokoro Abuja.

"The conference is designed to deliberate on the general administration of the Nigerian Army, review the ongoing military operations against terrorism and insurgency in the North-East and other internal security operations across the country, as well as x-ray the Nigerian Army’s activities within the last three months. "The conference will also project and re-strategise for the next quarter which will culminate in far-reaching decisions for the furtherance of set goals of the Nigerian Army and the general security of the nation..."

LCCI wants CBN to review forex policy

he Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to review its foreign exchange policy for imported goods. The LCCI made the call in a statement signed by its Director-General, Mr. Muda Yusuf, which was made available to newsmen yesterday in Lagos. The chamber disapproved of the apex bank’s policy, which restricted 41 imported goods from accessing foreign exchange from the bank.

It said that the policy would serve as a disincentive to the Nigerian manufacturing sector and the economy. The statement said that the restricted items included critical elements of the manufacturing process of many firms, across sectors in the country. “The policy means that manufacturers who require any of the 41 restricted items as inputs and raw materials for their production may have to simply shut their operations once their existing stock is exhausted.

“The LCCI understands the CBN’s constraints and circumstances, as it drew up this policy. It, however, appears as if the formulation of the policy has suffered from the CBN’s limited understanding of the manufacturing process of many of the sectors affected by this policy.” The CBN on June 23 said that it was imperative to exclude importers of some goods from accessing foreign exchange. It added that the directive was aimed at encouraging local production of the items.

he National Union of Electricity Employees (NUEE) has vowed to stop renewal of management contract of the Transmission Company of Nigeria (TCN) by Manitoba Hydro International. The electricity workers stated that the company had failed to turn around the fortunes of TCN due to its inefficiency. General Secretary, NUEE, Mr. Joe Ajaero, in a statement yesterday called for the cancellation of the management contract. Ajaero said: “Vandalism has caused gas supply shortage. However, distribution com-

panies should be able to immediately take-off 6,000MW of load once gas supply can support. But as of January 2015, the contractor is still trying to figure out how to optimise load demand for wheeling above 5,000MW. “With great irony, it must be stated that the previous Nigeria management team controlling TCN would have delivered better performance by this date if given the opportunity. “It is therefore our advice that the contract should not be renewed. Where the government decides to ignore this advice, the union from (Monday) July 12, 2015

will explore all legal means to protect the interest of the workers in sector and Nigerians in general.” The Federal Government had on May 28, 2012 signed a three-year management contract with Manitoba to turn around the TCN. However, the TCN management stated that generation of electricity into the national grid was steadily improving to over 4,000MW. General Manager, Public Affairs, Mrs. Seun Olagunju, the company said it was transmitting over 4,000MW on regular basis to the electricity distribution companies nationwide.

Lamido may regain freedom on Tuesday Muhammad Kabir Kano

mbattled former Governor of Jigawa State, Alhaji Sule Lamido, and his two sons, Aminu and Mustapha, may regain freedom on Tuesday. His lawyer, Effiong Effiong, is said to have secured a vacation judge to oversee the case. An inside source confided in New Telegraph

that already, some of the former governor’s aides have moved to Abuja in preparations for his possible bail by the judge. Our correspondent in Kano reports that Lamido, who is now detained with his two sons, refused luxury treatment in the cell. The source further confided in this newspaper that Effiong has been working on the bail process since Thursday last week. The source hinted that

a vacation Judge might have been assigned to listen to the bail applications sought by the Lamidos. Already, there is quiet celebration in the camp of Lamido following reports of his possible release this week. Aminu Jahun, a former secretary of the Peoples Democratic party (PDP) in Jigawa State, said he was never worried because he knew it was just politics that is pushing the case.

News

Philip Nyam Abuja

member of the House of Representatives, Hon. Uzoma NkemAbonta (PDP, Abia) has said Peoples Democratic Party (PDP) lawmakers voted massively for Speaker Yakubu Dogara against Femi Gbajabiamila because they wanted a speaker that would not be controlled from outside. Nkem-Abonta, who represents Ukwa East/Ukwa East Federal Constituency on the platform of PDP, disclosed in Abuja at the weekend that the decision to pick Dogara ahead of Gbajabiamila in spite of his (Gbajabiamila) sterling performances as a legislator was the fear that godfathers would hijack him. "We needed a Speaker we can say, this is our Speaker. We needed a Speaker whom we don't have to take permission from a third party outside before he can listen to us. We needed a Speaker who would not wait for call before he can respond to issues on the floor of the House. "We were worried; so we needed a Speaker without an external control and influence dictating his actions and body language. That was why we begged to differ, including some APC members who joined us to elect Dogara," he said.

Elumelu Foundation hosts boot camp

s part of Tony Elumelu’s $100 million commitment to empowering African entrepreneurs, 1,000 Tony Elumelu Entrepreneurs, representing 51 African countries from the Tony Elumelu Entrepreneurship Programme (TEEP) Class of 2015, have converged near Lagos, Nigeria for an intensive twoday boot camp session. The entrepreneurs travelled from across the continent – from as far as Madagascar and Morocco – and convened in Ota, Nigeria for an entrepreneurship boot camp made up of interactive sessions with successful entrepreneurs, political and business leaders, and an open mic session with the Founder, Tony O. Elumelu CON. Gambian Badje Modou Lamin, whose business is in the agricultural sector, said, “The boot camp has been a great experience. I have been able to exchange ideas with a number of entrepreneurs. This has really changed my perspective on Africa.”

national

monday, july 13, 2015 NEW TELEGRAPH

Speakership: Why we supported Dogara, by PDP Rep He also blamed the current leadership crisis in the House on some persons he described as "commercial politicians." "So, the confusion in the 8th Assembly is as a result of the owners of the APC trying to have their way at all cost. Tambuwal's case was similar; when the PDP decided to hand-pick somebody from a particular sec-

tion of the country and imposed on us, because that was the thinking of the members then that we couldn't accept that. "Therefore, Tambuwal offered himself in 2011, as against the choice of the PDP; because we felt that he could be a better candidate and he proved to be by the way he managed the House. So, this time

around, that was why we said again that let's repeat that House project of 2011 and pick somebody by ourselves and we arrived at the choice of Dogara.” According to him, the endorsement of Gbajabiamila was the last straw that broke the camel’s back because the opposition parties felt that there was something his being

singled out instead of allowing a level playing field for all contestants from the zone. The former deputy chairman, Committee on privatization and commercialization lamented that the leadership crisis has taken a dangerous dimension because of the peculiar nature of the Nigerian politician.

L-R: Head, Government Relations, Nigerian Breweries Plc, Vivian Nkem; Corporate Affairs Adviser, Kufre Ekanem; Permanent Secretary, Federal Ministry of Education, Dr. MacJohn Nwaobiala and Deputy Director, Basic Education, Mrs. O. A. Ariba, during Nigerian Breweries Plc’s management team's visit to the Ministry as part of sensitisation efforts of the ongoing Maltina Teacher of the Year Award Initiative of the company in Abuja…at the weekend

Mining Lease: Coalition Saraki decries Saudi's visa policy S petitions EFCC over Mobil's $600m oil deal Onwuka Nzeshi ABUJA

ivil Society Network Against Corruption (CSNAC), a coalition of over 150 anti-corruption organizations has petitioned the Economic and Financial Crimes Commission (EFCC) demanding an investigation into a $USD600million deal that resulted in the renewal of three oil mining leases ( OMLs 67, 68 and 70) for Mobil Producing Nigeria. In a letter dated June 29 and addressed to the Executive Chairman of the EFCC, Mr Ibrahim Lamorde, the group described the deal as fraudulent and an act of economic sabotage, which must not be allowed to stand if the present administration must enthrone a culture of transparency, accountability, probity and total commitment in the fight to eradicate corruption in Nigeria. According to the coali-

tion, Mobil in connivance with the former Minister of Petroleum Resources, Mrs Deziani AllisonMadueke, shortchanged Nigeria in the deal as an earlier valuation of the potentials of the oil blocs could have yielded better proceeds to the country. "It would be recalled that based on the valuation conducted by the Ministry of Petroleum Resources, Mobil and the Nigeria National Petroleum Corporation (NNPC) as equity holders, were required to pay $6.375 billion as 100 per cent of the reserve fee. Mobil’s 40 per cent share in the lease was fixed at $2.55 billion and a commitment to invest additional sum of $1.2 billion in a refinery and gas infrastructure for the domestic market. "But Mobil rejected the said terms and paid $600 million for the renewal of the three oil blocks which have a combined output of 580,000 barrels of crude oil per day.

enate President, Dr. Abubakar Bukola Saraki, has criticized the entry visa issuance policy of the Saudi Arabian embassy in Nigeria for this year's lesser hajj. Saraki, who arrived Medinah on Saturday listened to complaints from some Nigerians, who are performing the lesser hajj and noted that the Saudi authorities, unlike other embassies in the country, refused to articulate a visa policy which potential visitors to the holy land can follow and obtain their entry visa without any difficulty once they meet the requirements. A statement by his Special Adviser Media, Yusuf Olaniyonu, quoted Saraki as saying: "The present process in which visitors to Saudi must go through a third party has created artificial bottlenecks now being exploited by the travel agents and the embassy officials. Our people are now made to suffer indignities arising from conspiracy between the embassy officials and the so-called agents. The process is fraught with corrupt practices". The Senate President

said some Nigerians informed him that they had to send their passports through Saudi embassies in other West African countries where the cost of the visa was less and they did not need to go through the hardship experienced in Nigeria. "It is unimaginable the amount of money people paid to get visa for this year's lesser hajj and we do not want that to repeat itself for the hajj proper coming in a few months' time. You know this religious rites and obligations are very important to our people and so, despite these inconveniences, they still struggle to get here and we have a responsibility to ensure this exploitation and inconvenience stop immediately," Saraki said. He reassured Nigerians who complained to him that the Saudi visa policy will be one of the issues the Senate will look into when it resumes plenary later in the month and that the Saudi authorities as well as the Ministry of Foreign Affairs in Abuja will be engaged to find a lasting solution to the problems of visa issuance to Nigerians by the Kingdom of Saudi Arabia.

ITF kicks off two million annual jobs for youths

he Industrial Training Fund has finalised a structure that will provide two million jobs for Nigerian youths annually through its skills acquisition and employment creation programme. The Director-General, ITF, Mrs. Juliet ChukkasOnaeko, disclosed this in a statement last Friday. She said the Fund planned to achieve the feat by collaborating with the Nigeria Employers’ Consultative Association. She spoke in Lagos at the unveiling of the ITFNECA Technical Skills Development Project for Ruff ‘n’Tumble/Betti-O School of Fashion Design, in Lagos. She said: “The plan is to train two million youths annually and put them to work. Already, we have hit the ground running to ensure that we even do much more. We are also coming up with the youth lounges at all our offices across the nation because we want to better engage the youths. “If we catch the youths and direct them to focus on productive skills and businesses, we would be doing this country a lot of good.” According to her, this is in line with the passion of the administration of President Muhammadu Buhari to reduce the unemployment level in the country through job creation.

SERAP seeks probe of N’Delta amnesty programme Akeem Nafiu

human rights group, the Socio-Economic Rights and Accountability Project(SERAP) has urged President Muhammadu Buhari to instruct appropriate government agencies to begin a thorough and effective investigation into allegations of corruption and denial of entitlement and allowances under the Niger Delta Presidential Amnesty Programme. In the petition dated July 10 and signed by SERAP's Executive Director, Adetokunbo Mumuni, the organisation said it has “received a petition from Mr. Sukore O Daniel, Mr. Ekperi Abel, Mr. Enodeh B. Eniyekperi, Mr. Ebaretonbofa J. Keme, Mr. Akperi Tamaraebi and Mr. Godspower A. Desmonds, all of Patani Community in Delta State (Hereinafter known as Petitioners).” “The petitioners alleged that they have gone through the required training under the Amnesty Programme by the Federal Government."

NEW TELEGRAPH monday, july 13, 2015

Group wants probe of Senate’s forgery allegations Chukwu David Abuja

riends in the Gap Advocacy Initiative (FGAI), a parliamentary advocacy, monitoring and lobby group, yesterday expressed serious concern about the unending tussle for leadership positions in the Senate. The group also noted the petition written by the, "Senate Unity Forum," to the Inspector General of Police, calling for an investigation into the circumstances of the emergence of the "Senate Standing Orders 2015," which rule was used in the election that led to the emergence of Senators Bukola Saraki and Ike Ekweremadu as the President and the Deputy President of the Senate respectively. In a statement signed and circulated to journalists in Abuja by its Executive Director, Mr. George Orji, the Friends in the Gap Advocacy Initiative further said that it noted the explanations given by Senator Ike Ekweremadu, that every new senate must operate with a new rule in compliance with Section 64 of the 1999 Constitution of Nigeria, as amended to justify the emergence of the new rule book.

Abuja

he Federal Capital Territory administration at the weekend obtained a court order to seal-off 36 premises in Asokoro District of the nation's capital over failure of their owners to comply with a re-decoration order. FCTA's Department of Development Control, had previously issued a re-decoration order to owners of the 36 houses. The order was given by Folashade Oyekan, Presiding Judge of the Mobile Court, set up to try re-

gun State governor, Senator Ibikunle Amosun, has congratulated the 1987 Nobel prize winner for Literature, Prof Wole Soyinka, on the occasion of his 81st birthday. Amosun, according to a statement signed by the Secretary to the State Government, Barr Taiwo Adeoluwa, described Soyinka as "a quintessential

Goje’s expulsion illegal — APC Johnchuks Onuanyim Abuja

he national leadership of the All P ro g re s s ive s Congress yesterday described the expulsion of the former Governor of Gombe State, Senator Danjuma Goje by the state chapter as illegal. According to the National Secretary of APC, Alhaji Mala Mai Buni, due process was not fol-

lowed in his expulsion. He explained that the provisions of the constitution on the expulsion of a member were very clear and was in no way followed. Also commenting on the expulsion, the National Publicity Secretary of APC, Alhaji Lai Mohammed, stated that only the National Convention can ratify expulsion of a member. He, however, did not say the organ of the party that expels a member,

but said the state chapter cannot expel a member. Goje, representing Gombe Central Senatorial District was recently expelled by the state chapter of APC for what it considers as anti-party activities. The APC national secretary stated that they only read in the papers that he was expelled. He said that no official correspondence to that effect had reached the national secretariat of the party.

Goje expulsion, which took effect from July 1, 2015, was made public by the Gombe APC State Chairman, Magaji Doho. Doho said Goje was expelled for alleged antiparty activities. Mohammed, in his reaction on the expulsion on Goje on a telephone interview said, "Only the National Convention of the party can ratify expulsion". He explained that the party constitution provides that other organs

can discipline members but expulsion was exclusive to the party's national convention. The Secretary, speaking on the expulsion, said, “there is no any formal letter from the state.” Asked if a state chapter can expel a member of the party, the secretary said, "They cannot. Our constitution is very clear about that. For any member of the party to be expelled, the constitution must be followed thoroughly. It is not just somebody sitting down and saying that he has expelled somebody. We have constitutional procedures of how things are done in our party".

UPN disowns Okuwa, affirms Fasehun as chairman Wale Elegbede

T L-R: Host, Dr Lalekan Are; former Vice-Chancellor, University of Ibadan, Prof. Ayo Banjo and Prof. Niyi Osundare, at a luncheon in honour of Prof. Osundare on his award of Nigeria's National Order Of Merit in Ibadan …yesterday.

FCTA gets court order to seal off 36 houses in Asokoro Yekeen Nurudeen

News

national

decoration offenders. Oyekan also ordered that five of the defaulters who were present in court, should be given a two-week grace to redecorate their premises or risk being sealed-off. "However, for those who refused to appear in court, even when it is sitting in their neighbourhood, I order that their premises be sealed-off until they comply with the redecoration notice." She said. The court summoned 41 residents of Churchill St., Omar Bongo Close, Daniel Arap Moi Close, Paul Biya Close, and Queen Elizabeth St., all

in Asokoro but only five of them appeared in court. The prosecutor, Arome Tokula , told the court that the accused persons failed to comply with an order of the Department, instructing them to repaint their dilapidated houses. He said that the offence contravened Section 35 of the Abuja Environmental Protection Board (AEPB) Act of 1997. "The accused persons were summoned to this court for fai2lure, refusal and neglect to paint their premises even after redecoration order was issued to them. The offence contravenes section 35 of the AEPB Act," Arome said.

Amosun extols Soyinka at 81

scholar who bestrides the literary world like a Colossus." "Soyinka excels in all the genres of literature and his prodigious works have continued to be a reference point in academic circles all over the world," the statement said. Amosun opined that the first winner of the

prestigious Awo prize for Leadership "has continued to be a source of inspiration to youths across the globe on top-notch scholarship, values of industry and public spiritedness." He wished him robust health and many more years of meritorious service to the nation.

Gunmen kill five in Rivers community Emmanuel Masha Port Harcourt

unmen, suspected to be cultists riding on motorbikes opened fire on innocent civilians in Agbonchia, a community in Eleme Local Government Area of Rivers State, Saturday night, killing five persons. They were said to be shooting sporadically within the area. They rode to Eleme market and shot at traders, injuring some of them, just as they carried out attacks in Ejama Ebubu, a community where clashes among cultists are not uncommon. The gunmen also attacked a motorcycle washing area, where some commercial motorbike riders were washing their bikes. The shooting lasted for more than one hour as people fled the streets. Eyewitnesses said that the attackers were suspected cultists who stormed the area to fish out members of a rival gang The police spokesman,

Ahmad Mohammad, confirmed the killings, noting that five persons lost their lives, and that the police had made some arrests linked to the killings on Saturday night. Ahmad noted that the police also went after other suspects and arrested 10 persons on Sunday, including a notorious cultist that had been terrorizing the area. “Preliminary investigations revealed that the incident is related to cult activities…We arrested 10 persons today, including Mar Bode Ngochindo, a vicious and notorious cultists. Items recovered from the scene include one Lexus Jeep, two motorcycles and 20 expended shells of 7.62 ammunition,” Ahmad said. In a related development, armed youths stormed the venue of elders meeting, opened fire and injured some persons. The gunmen, who also arrived in motorbikes at the Rumuigbo Civic Centre in Port Harcourt speed off after the shooting.

he National Executive Council (NEC) of the Unity Party of Nigeria (UPN) has disowned and described the factional chairman of the party, Professor Bankole Okuwa, as a joker. In a statement by the pioneer and current UPN Deputy National Publicity Secretary, Honourable Adeoye Jolaosho, the party said Dr. Frederick Fasehun, the pioneer leader, remained the National Chairman of the party. “By virtue of the first UPN National Convention held at the Yard 158 Events Centre, Oregun, Lagos, last January 9, Dr. Frederick Fasehun, the pioneer National Chairman of the party, was returned to the position,” said Jolaosho. He said the election of Fasehun as well as other members of the National Executive Council (NEC) complied with Article II Section 7(2) of the party’s constitution, which stipulates that: “The National Convention shall elect the... National Officers of the Party each of whom shall hold office for a maximum of four years or for such other lesser duration as the National Convention may fix but shall be eligible for re-election,” Disowning Okuwa, the Deputy National Publicity Secretary said: “We have never seen this pretender, the socalled Professor Okuwa, the supposed new National Chairman at any UPN meeting”.

MONDAY,JULY 13, 2015 NEW TELEGRAPH

Metro

Businessman beheaded in Ebonyi

NDLEA seizes 1.9m kg of cannabis

FATAL ATTACK

Biodun Oyeleye Ilorin

A businessman dies in second attempt on his life in 18 years

Uchenna Inya Abakaliki

unmen at the weekend beheaded a businessman, Nwabueze Ogboji, at EbisikeObegu village, Enyibichiri community in Ikwo Local Government Area of Ebonyi State. Ogboji’s neighbours, who did not want their names in print, said there was heavy shooting in the compound of the deceased which lasted for several hours, when his house was invaded in the middle of the night. They explained that the shootings and the time of the incident prevented them from coming out to rescue Ogboji. The sources added that when the shootings stopped, they saw his compound engulfed by fire, believed to have been the handiwork of his assailants. Ogboji’s neighbours noted that the following day, being Sunday, the headless body of the victim, riddled with bullets, was discovered in another compound. The people added that after

IGP, Arase

killing the man, the assailants cut off his head and used axed to sever his jaw from the head. They added that during the attack, Ogboji’s wife was pleading with the gunmen to spare their lives. The sources said that in 1997, some armed men invaded Ogboji’s compound but he escaped with a broken leg. In that attack, three of Ogboji’s friends lost their lives, which forced

the residents to flee the area. At press time, the area has been deserted for fear of arrest by the police. The state Police Public Relations Officer (PPRO), DSP Chris Anyanwu, who confirmed the incident, said he was expecting official report from Ikwo Divisional Police Station in the area. He condemned the killing and promised that the perpetrators would soon be brought to book.

he National Drug Law Enforcement Agency (NDLEA) in Kwara State said it made a total seizure of 1,915,449 kilogrammes of hard drugs from January to May. The state NDLEA Commander, Reuben Apeh, who made the disclosure in Ilorin during an interview with journalists, described the seizure as very disturbing and a very bad signal to the residents of the state. He said 64 suspects -54 males and 10 females were arrested within the period. According to Apeh, the activities of drug peddlers have become alarming and becoming increasingly sophisticated among the younger segment of the state population. The commander said on June 6, about midnight, operatives of the command seized 1,076kg of cannabis with a truck loaded with 131 bags of the product. He said: “Drug joints are all over the nook and cranny of the state. Our youths are deeply involved. But, the officers and men of the agency are ever ready to fight this war and win; to free the state from the grip and scourge of drug merchants. “The efforts of our officers in this direction resulted in various arrests made in the last two months. “Also, the arrest of a drug kingpin in Ilorin recently led to a rampage by hoodlums protesting the arrest of their kingpin. Despite the attempt of the hoodlums to frustrate our efforts, we are not deterred.” The NDLEA chief also paraded a 36-year-old man, who had allegedly been parading himself as official of the agency for the past three years. The suspect, identified as Samuel Alhaji Yawo, from Jagba Local Government Area of Kaduna State, was arrested by the Jebba Area Command of the agency, before he was transferred to the state headquarters in Ilorin. Apeh, said the suspect had been extorting money from unsuspecting members of the public, using fake identity card, allegedly procured fraudulently.

Vietnamese dupe Nigerians of millions of dollars Adesina Wahab Ado-Ekiti

he quest by some Nigerians to earn foreign exchange for the country by exporting goods to Vietnam has turned sour, as dubious Vietnamese have

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

duped some of them of millions of dollars through fraudulent claims. The development is, therefore, threatening trade relationship between Nigeria and the Republic of Vietnam. Investigation shows that dubious Vietnamese importers, cashing in on the long distance between the two nations, sometimes claim non-receipt of cargoes sent to them, cargoes being on demurrage, bribing Vietnamese police and Customs, alleging poor quality of products to either refuse to pay for goods or deduct substantial amount from funds they ought to remit to Nigerian exporters.

As a result of the development, no fewer than 25 petitions against Vietnamese importers have been sent to the Vietnamese Embassy in Nigeria and the Nigerian Embassy in Hanoi by about 37 affected Nigerians. Mostly affected are Nigerians exporting wood to the Asian country. A particular Vietnamese importer, Mr Cuong Tran Khac, owner of Truong Khac Lam Limited of 66, Group 4, Tan Phong Hamlet, Thuy Phuong Commune, Tu Liem District, Hanoi, Vietnam, has reportedly defrauded no fewer than 32 Nigerians in the process. For instance, after introducing

his company as importer of wood to Peter and Grace Investments Limited, Lagos, signing a trade agreement to buy and after getting 11 containers of wood from Nigeria, Cuong became evasive. In a petition by Okafor and Okafor, legal practitioners to Peter and Grace Investments Limited, to The Commercial Counsellor of the Vietnamese Embassy in Lagos, they detailed how Cuong refused to pay their client $47,160 for wood sent to him. The petition reads in part: “Despite the delivery and clearance of all 11 containers, Mr Cuong and his company, Truong Khac Lam Limited, refused to make payments for them.”

Vietnam President, Tru’o’ng Tan Sang

Metro 11

NEW TELEGRAPH MONDAY,JULY 13, 2015

Man batters wife, daughter for playing lotto Taiwo Jimoh

iss Kafayat Kareem, 12, would have died from the wounds she sustained while her father was assaulting her mother but for some Good Samaritans. It was gathered that when the victim was trying to stop her father from beating her mother, he became furious and pounced on her. He reportedly beat Kafayat with wire. The incident, which happened on July 7 at Orile-Iganmu area of Lagos State, was reported at Area ‘C’ Police Command. It was learnt that members of a vigilance group, who were on night patrol at Oyingbo Market, saw the girl squirming in pains inside one of the stalls. They rushed her to Star Clinic at Ebutte-Metta where she was receiving treatment. Kafayat told our correspondent that she ran away from home after receiving severe beating from her father. She said: “My offence was that I tried to stop my father from beating my mother who he accused of using her hard earned money to play lotto. “It was when I was sleeping in the market that some vigilantes came and rescued me. After seeing

my wounds, they took me to the hospital where I am presently receiving treatment. “Despite my mother’s cry for help, none of our neighbours could come out to rescue her because they were afraid of my father. “This is not the first time my father would beat my mother and I. I have lost count of the beatings. One day, out of frustration, I asked my mother to relocate my siblings and I to Ilorin so as to stay away from our father due to his incessant harassments.” Our correspondent was not allowed to see the victim’s mother who was receiving treatment at Charity Hospital, Orile-Iganmu. One of the nurses at the hospital, who craved anonymity, said the woman sustained fracture on her two legs as a result of the beating from her husband. The Secretary of the Vigilante Group of Nigeria said, Agbodemu Musba, said some of his members on night patrol at Oyingbo Market found the girl and rescued her. He said: “I received a phone call from our members that they found a young girl in one of the stalls at Oyigbo Market and they brought her to our office. After explaining her condition, we took

Customs intercept N4.374m poultry products Camillus Nnaji

he monitoring team of the Federal Operations Unit (FOU) of the Nigeria Customs Service (NCS), Zone 2, Ikeja, Lagos, at Idiroko axis, said it had intercepted 810 cartons of smuggled frozen poultry products valued at N4,374,000. The team coordinator, Deputy Comptroller Yahaya Usman, who made the disclosure, said the interception was possible as a result of an effective collaboration with the residents and the NCS with the resolve to to-

tally eradicate the menace of smuggling. The coordinator expressed the determination of the team to explore avenues to ensure practical compliance with the headquarters’ directive on zero tolerance for smuggled poultry products. Usman disclosed that the seized poultry products would be destroyed and buried at a designated site on the NCS premises, Ikeja, under the watch of critical agencies of government, including the National Agency for Food and Drug Administration and Control (NAFDAC).

City Briefs Two held for cultism Uchenna Inya Abakaliki

Kafayat

her to the hospital.” Musba called on the state Commissioner of Police, Mr Fatai Owoseni, and the state government

to fish out the victim’s father to serve as deterrent to others who are assaulting their wives and children.

Lagos blames floods on poor waste disposal Muritala Ayinla

agos State Government has blamed floods being experienced in parts of the state on improper waste disposal by the residents. The Permanent Secretary, Ministry of the Environment, Ayodeji Adenekan (an engineer), who disclosed this, said that the attitude had constituted hindrance to the flood-free agenda of the government. Adenekan said that efforts were on to clear the drains and major canals across the state to prevent flooding, but warned that serious sanction awaited anyone found disposing waste in the drains. He said: “The greatest challenge is refuse in the drains. If we don’t have refuse in the drains and it is only water that is there, the water will flow because we will only have silt in the drains. If the water is moving it will carry sand. “Flood is basically water and sand. The flood moves, the sand stays, so silting is something that you normally have in any drainage. If it

olice said they had arrested two suspected cult members, Okoha Tobias and Obinna Ozim of Okpuitumo in Ikwo Local Government Area of Ebonyi State. The residents of the area had woken up to see a strange white banner with a black-axe logo and inscription “Axe-men, Happy birthday worldwide,” displayed at a popular motor park in Agubia. This created fears among the residents, with some fleeing the area. Confirming the incident, the state Police Public Relations Officer (PPRO), DSP Chris Anyanwu, said when the matter was reported to the Divisional Police Officer (DPO) in the area, he led his team and removed the banner. He said on investigation, two suspects were arrested. The PPRO warned hoodlums to stay clear of Ebonyi as the police would make the state uncomfortable for criminals. Anyanwu said the two suspects would be charged to court after investigation and urged the people to go about their normal businesses.

30 Itsekiri students get scholarship Gabriel Choba Ughelli

Gov. Ambode

is only sand, it will not be as bad, but we now compound it with pure water sachets, nylon and others, so that is the greatest challenge that we have.” Adenekan added that prior to the warnings by some agencies about imminent flooding challenges in Lagos State and other states, the state had embarked on holistic approach to tackling flood problems. He said: “In Lagos, we don’t really have to wait for the hydraulic agency to release warning notice before we know that we have to be up and doing.”

he immediate past Commissioner for Health in Delta State, Dr Joseph Otumara, yesterday awarded scholarship to 30 students of Itsekiri extraction studying in various tertiary institutions across the country. Otumara, who gave the scholarship through the National Association of Itsekiri Students, at Ugbuwangue, Warri South Local Government Area of the state, charged Itsekiri students to distinguish themselves in their academic pursuit. The medical practitioner cum politician advised members of the association to use their knowledge to make the difference in the present situation Itsekiri found themselves. He added that the students should use the knowledge acquired in their career to promote the Itsekiri culture. Otumara, who spoke through his Special Assistant, Mr Andrew Megbele, noted that the scholarship scheme was an interventionist programme geared towards assisting underprivileged students in Iwere land. In his remarks, President, National Association of Itsekiri Students, Comrade Precious Otikpere, commended Otumara for keeping to his promise on the scholarship award.

Parents, two children die in auto crash Pamela Eboh Awka

our members of a family of six lost their lives yesterday when a truck fell on their car. Two children and their parents died in the accident while two surviving others were rushed to the

hospital. The accident occurred at Finotel Junction, Hotel Junction on Enugu-Onitsha Expressway in Awka, Anambra State. This was as Governor Willie Obiano has condoled with the family of the victims. A witness, Mr Ikechukwu Okafor, said that the trailer lost control and fell on a

car conveying a family of six, killing four on the spot, among them their parents. Saddened by the development, Obiano has promised to pay medical bills incurred by the surviving children who were receiving treatment at the Anambra State University Teaching Hospital, Amaku.

Expressing his condolence, the governor promised the residents that he would ensure safety of lives by regulating the movement of heavy duty vehicles in the state. Efforts to speak with survivors were frustrated by the hospital officials who said they could not speak to the press yet.

The scene of the accident

12 News Yekeen Nurudeen ABUJA

he Vice Chancellor of Federal University of Technology, Akure (FUTA), Professor Adebiyi Daramola has attributed the sudden surge in the rate of abduction of academics in the country to the general insecurity in the country. Speaking against the backdrop of the abduction and gruesome murder of a former Vice Chancellor of the University by two of his domestic staff, Prof. Albert Ilemobade, he lamented that those who did the act were not unemployed. Professor Daramola, who spoke to journalists who were monitoring Tertiary Education Trust Fund (TETfund) intervention projects at FUTA,

national

monday, july 13, 2015 NEW TELEGRAPH

Abduction of academics, part of security challenges — VC FUTA lamented the gruesome murder of the late VC. “The ongoing abduction of academics in the country is part of the insecurity problem in the society. The brain behind his death were his former driver and security man, they conspired because they wanted to steal his car. They lured him out of the house and strangled

him and put his copse in the store and made away with his car. “From their confessional statement, they said if they didn't kill him he will come after them. It is part of the insecurity in the society. It was not because they were unemployed. And this was a man that has been feeding them and they still

have the wickedness of heart to kill him," he said. It would be recalled that a serving Vice-Chancellor, Professor Rosemund Osahogulu, of the Ignatius Ajuru University of Education, Port Harcourt, and a former Vice-Chancellor, Professor Albert Ilemobade of the Federal University of Technology, Akure were kidnapped

last month by unknown persons. He however commended TETfund for all its interventions across tertiary institutions in the country, noting that there would not have been developments in many universities if not for the intervention of the agency. This was as he called for the reduction in bu-

IBADAN

L-R: Member, National Executive Committee, Nasiru-llahi Fatir Society of Nigeria (NASFAT), Alhaja Usman; past Secretary, National Women Affairs, Alhaja Faosilat Oladoja and representative of the National Secretary, Women Affairs, Alhaja Omowunmi George, at the Iftar (breaking of fast) with the press in Ikeja, Lagos …at the weekend.

$3.5bn fertilizer-petrochemical firm to employ 30, 000 Bayelsans, says BDIC Chris Ejim YENAGOA

he Bayelsa Development and Investment Corporation weekend said the $3.5 billion Brass Fertilizer and Petrochemical project to be sited at Odioma in Brass Local Government Area is expected to generate a turnover of $1.5 billion and employ about 30, 000 workers, especially indigenes. The firm, therefore, predicted a prosperous future for the people of the state

as the corporation intensifies action on restructuring the state’s economy and expanding economic opportunities. The Deputy Managing Director of BDIC, Tam Alazigha, in an interview with journalists in Yenagoa, said the new offices that were opened in South Africa, United Kingdom and Atlanta, United States, would “take Bayelsa to the world and bring the world to Bayelsa” by opening outposts in strategic locations in the various key markets in order to lever-

Soldiers mistakenly kill TCN staff, injure colleagues Ahmed Miringa MAIDUGURI

team of the Transmission Company of Nigeria (TCN) accompanied by military escort who were on the mission to repair broken transmission line near Benesheik along Maiduguri Damaturu road suffered another setback on Saturday when

NACCIMA boss urges Nigerians overseas to establish industries at home Sola Adeyemo

Customers applaud Glo free minute call offer lobacom has received commendations for its “one free minute call” offer to subscribers for three minute-call they make in the 200% bonus airtime for calls to all networks. Subscribers who spoke on the offer said the “free minute” was commendable as it had helped them make significant savings on call cost and also enhanced their ability to keep in touch with their friends and family members. Cynthia James, a student of the University of Jos, who is a beneficiary of the bonus offer, said that the extra call time had given her the opportunity of calling her folks first thing in the morning and last thing at night. “It is like I am living at home in Lagos as I get updated regularly about happenings at home. This is quite encouraging,” she said. In the same vein, Osamuadiamen Oghogho, a fabrics merchant at the Upper Market, Benin City, said the Glo free one minute call after three minutes helps her in business as she now calls her customers freely.

reaucratic bottlenecks involved in the process of accessing funds which according to him are time taken. “The only problem with TETfund is their bureaucracy in getting approval and money out of the system. There are many of our colleagues who applied for TETfund trips abroad, the date of the trip would have come and gone and TETfund approval would still be outstanding,” he said.

soldiers stationed in Benesheik mistaken them as Boko Haram, opened fire on them killing one staff of the TCN, injured two soldiers and one other TCN staff. A source from the TCN, Ibrahim Garba said, “the incident occurred when our staff accompanied by the military went to repair a transmission line near

Beneshiek and the military personnel attached to Benesheik opened fire of them thinking that they were insurgents, killing our driver, injured 3 others including two soldiers. “One of our drivers is still missing while one of our injured staff and the two other soldiers are receiving treatment at the General Hospital."

age on opportunities that the markets offer to drive the restoration of the Bayelsa economy. He said, "The 3.5 billion dollar Brass Fertilizer and Petrochemical projectat Odioma, which is expected to generate turnover of $1.5bn dollars and employ about 30,000 Bayelsans. This high-impact catalytic project is expected to produce 5,000 metric tonnes of Methanol per day, 2,200 metric tonnes per day of Ammonia and 7,700 metric tonnes per day of Urea for domestic and export

markets. “This humongous project will ensure availability of high-grade fertilizer for farmers throughout the planting season and meet 25% of the country’s projected annual domestic demand of 10 million metric tonnes. The BDIC is taken up a 10% equity stake in the project. “The only property owned by the corporation are those in the U.K located at St. John's Wood, registered under BDIC UK Ltd and forms part of the assets in the balance sheet of the corporation." The property was bought at £2.3 million but now valued at over £3 million with a monthly rental income of £7000.

he Vice President, National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Asiwaju Olaitan Alabi, has called on Nigerians in the Diaspora to assist the country’s economy by establishing industries which would help in arresting the high rate of unemployment in the country. Speaking at the inauguration of Yebaot Automobiles Limited in Ibadan, Oyo State capital, Alabi noted that the establishment of industries by wealthy Nigerians at a period that the country was trying to diversify the economy, would go a long way in reducing unemployment rate. While noting that gover nment cannot do it alone, the NACCIMA boss said the country needs foreign investments to boost the economy and reduce dependence on petroleum products. Alabi, who disclosed that Nigeria cannot survive with her monoeconomy system, noted that the prices of petroleum products would continue to fall in the world market because developed nations have found alternative to the use of petroleum.

Nigerian, British firms agree 27 partnerships in Shell sponsored-collaboration

total of 27 partnerships have been agreed by Nigerian and British companies under the auspices of the annual Nigeria-UK engagement programme sponsored by the Shell Nigeria Exploration and Production Company Limited (SNEPCo). The partnerships cover a wide range of oil and gas

activities including engineering, maintenance, fabrication and support services, and were the outcome of several business summits held in Lagos, Abuja, London and Aberdeen respectively. Working closely with the United Kingdom Trade and Investment (UKTI), SNEPCo initiat-

ed the business summits in 2009, creating valuable opportunities for Nigerian and British companies to collaborate to close the technical gaps that exist in the oil and gas industry as a result of the enactment of the Nigerian Oil and Gas Industry Content Development Act, 2010.

NEW TELEGRAPH MONDAY, JULY 13, 2015

Governance

Local governments need more supervision – Sagay

Ebonyi

Umahi’s hammer falls on LG chiefs

Politics The polity is presently rocked by dissolution of council administrations – elected or appointed, and subsequent appointment of caretaker committees in their stead by newly elected governors to perhaps pave the way for continued diversion of the councils’ funds. FELIX NWANERI reports

Dismantling vestiges of their predecessors

ocal councils are the closest tier of government to Nigerians, but the populace in the country’s 774 councils, have over the years, failed to enjoy the benefits of local governments’ creation, especially in the area of service delivery. This explains the call by some Nigerians for a change in the local government system as presently constituted in order to make the councils conform to present day reality – grassroots development. The two primary objectives spelt out in the Local Governments’ Reform of 1976 are: To promote participatory democracy, and ensure rapid socio-economic development at the local level. Some stakeholders argue that the desired dividends will not accrue to the people until the councils are freed from the grip of the various state governments through constitution amendment. Section 7(1) of the 1999 Nigerian Constitution (as amended) guarantees a system of local government by democratically elected government councils. However, the second component of the section makes the establishment, structure, composition, finance and functions of the local governments dependent on state laws. Inadvertently, the constitution, also makes it possible for state governments to cripple the local governments financially, by rout-

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

el-Rufai

ing funds standing to their credit in the Federation Account through the States/Local Governments’ Joint Account rather than directly to them. The Federal Government had argued during the introduction of the policy that it will bring even development to all parts of the country and prevent government officials at the state or local level from corruptly enriching themselves. But the arrangement has, over time, adversely affected the financial viability of the councils as some state governments have continued to make inexplicable deductions from their respective accounts. Section 162 (8) of the Constitution which explains how the amount standing in the joint accounts should be distributed to local governments in each state, states: “The amount standing to the credit of local government councils of a state shall be distributed among the local government councils of that state on such terms and in such manner as may be prescribed by the House of Assembly of the state.” But rather than ensure fiscal responsibility, the law has pro-

Wike

I will try to ensure that there is responsible and accountable governance at all levels of government in the country

vided a window for state governments which are constitutionally required to fund the councils, to instead hold them hostage as well as make them their appendages. In practice, the operation of the joint account has denied the local governments their financial autonomy. It should be noted that the state governments were not meant to be beneficiaries of the account but trustees. Against this backdrop, they (states) are required to maintain the account for the benefit of the local governments by ensuring that funds allocated to the third tier of government is equitably and fairly shared among the councils, adhering strictly to constitutionally stipulated criteria. The question that arises over this is: Have the leadership in the respective 36 states of the federation adhered to this constitutional provision? The answer is not farfetched as reports from across the country indicate that most governors have continued to run the joint account contrary to its intention. Instances abound where governors hand out only wage bills to council chairmen in their respec-

tive domains as well as make illegal and sundry deductions from the joint account. What could have aided these constitutional breaches? There is no explanation other than the same Section 7 of the constitution. This section has helped shield and create escape routes for governors who manipulate local government affairs. “Section 7 of the 1999 Constitution, which empowers the states to determine the structure, composition, finance and functions of councils has been the anti-development instruments used to frustrate every progressive and patriotic action to make the local government work since the return of the country to democracy in 1999,” a local government employee told New Telegraph. He described the joint account arrangement as a rip-off. According to him, local governments’ chairmen, by the arrangement are in the dark over how much their councils received monthly from the Federation Account. “Today, local governments do not know how much they receive CONTINUED ON PAGE 14

Politics

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

as monthly allocation from the Federation Account. What happens is that council chairmen submit wage bills to the AuditorGeneral for onward submission to the Commissioner for Local Government and Chieftaincy Affairs, who tinkers the budget and release funds to them after deductions by the Joint Account Committee to pay salaries and running cost. Allocations to the local governments are not made public unlike in the past,” he said. A civil society group, Youths for Human Rights Protection and Transparency Initiative (YARPTI), which held similar view, said the governors are hell bent on maintaining the status quo to continue to loot allocations accruing to the third tier of government. The group cited example of Imo State under the Rochas Okorocha administration. YARPTI’s director, Kenneth Uwadi, said: “A huge con game is taking place in so many Nigerian states where governors have refused to conduct council election and have been using caretaker officials to loot council funds. “Today, the councils in Imo State are dysfunctional. LGA funds in the state are held hostage and the people are deprived the opportunity to function democratically. Okorocha and his caretaker committee chairmen are looting these monies. They are using local government revenue and allocations to enrich themselves.” Road to autonomy The governors’ grip of the councils may have informed the consensus that financial autonomy be granted to the local governments during the last amendment process to the 1999 Constitution by the Seventh National Assembly. For instance, the House of Representatives report on public sessions in the country’s 360 federal constituencies then showed that the people voted overwhelmingly for financial autonomy for the councils; their proper recogni-

MONDAY, JULY 13, 2015 NEW TELEGRAPH

LGs: Still long road tion as a third-tier of government, while rejecting allocation of funds to caretaker executives of local governments. Consequently, the National Assembly approved financial and administrative autonomy for the councils by amending section 124 of the 1999 Constitution in October 2014. The section provides a consequential provision for making the councils a full third-tier government without undue interference from the state governments. A striking feature of the amendment of the section was the abolishing of State Independent Electoral Commissions (SIECs) and creation of the office of the Auditor-General of the Local Government as well as the State Local Government Service Commission.

Setback The journey to freedom, however, suffered a setback when the document was sent to the states for consideration in fulfilment of the constitutional requirement for a two-third yes votes by the state Houses of Assembly for the amendment to be effective. To the amazement of most Nigerians, 20 out of the 36 states Assembly rejected autonomy for local governments while 16 states voted in support. The 20 states which voted against were: Akwa Ibom, Bayelsa, Borno, Cross River, Delta, Ebonyi, Ekiti, Enugu, Jigawa, Kaduna, Kano, Katsina, Kwara, Lagos, Ondo, Osun, Rivers, Taraba, Yobe and Zamfara. States that gave the yes votes were: Adamawa, Anambra, Abia, Bauchi, Benue, Edo, Gombe, Imo, Kebbi, Kogi, Nasarawa, Niger, Ogun, Oyo, Plateau and Sokoto. The proposed amendments which was rejected had stated that “a local government council not democratically elected shall not be recognised by all authori-

Lalong

Governors have refused to conduct council election

Bagudu

ties and persons and shall not be entitled to any revenue allocation from the Federation Account or the state government.” It added: “It shall not also exercise any function exercisable by a local government council under this Constitution or any law for the time being in force; and shall stand dissolved at the expiration of a period of four years, commencing from the date the members of the council were sworn in.” Governors’ role While many were astonished by the states Assembly rejection, discerning minds were not in the dark over the arm-twisting that culminated to such decision. The governors were at the centre of the power play responsible for the rejection votes as they never hid their objection to autonomy for the councils. The then chairman of the Nige-

Govs destabilising

Local governments need more supervision – Sagay Prof. Itse Sagay is a former Dean, Faculty of Law, University of Benin. He speaks on the local government system. WALE ELEGBEDE reports What is your take on the development at the local government level, especially the dissolutions of their leadership? It is very clear from the constitution that local government chairmen are to be democratically elected and not appointed. And so judgements from High Courts and Appeal Courts have stated again and again that governors have no right to dissolve local governments. The provision for them is the same as the same provision for the election of governors. So, it is illegal to dissolve

a local government because you did not elect it. However, it is a different thing when a court says an election is invalid like the case of Rivers State local councils. That means the parties have to return to the status quo and we have to look at what the status quo was. How do you see the issue of joint accounts between the states and local governments? As far as the issue of joint account of states and local government is concerned, that is a very complex political question to answer. To start with, people make the mistake to say that local governments should be independent and should have autonomy because in a federation there are only two federating entities – Federal Government and state government. Local governments are not part of the federating entities; local governments are part of the state entity. Secondly, in practice, I have found that most of these local governments don’t do

anything. They get all of these monies at the end of the month, they sit down and share it among themselves and they wait for the next allocation. So, it is now practical necessity that state governments which are now carrying out the responsibility of local governments, for example, states that are paying the salaries of teachers in primary schools and carrying the whole burden of primary schools, building roads in local government areas, even building markets as we have seen for example that Lagos State was the one who built the Tejuosho market. So, with all these things, it becomes difficult to say that they should not interfere with the money that is coming to the local governments. So, it is not a simple and straightforward matter at all. It is only wrong for state governments to take that money and misuse it, but it is another matter to take the money because the local governments are not doing their job.

ria Governors’ Forum (NGF) and immediate past governor of Rivers State, Chibuike Amaechi, insisted that governors would not give up in their campaign against local governments autonomy. Amaechi said they were opposed to autonomy because they believe that the councils should not be designated as federating units. He also argued that countries all over the world maintain two tiers of government and Nigeria should not be an exception. The then Jonah Jang’s faction of the Forum also kicked against the move by the National Assembly. In a statement then by its Secretary, Osaro Onaiwu, the Forum accused some National Assembly members of using the conference committee to force through an amendment that was clearly rejected by the Senate during the amendment debates and votes. The Forum described the push

Sagay

Chief Chekwas Okorie is the national chairman of the United Peoples Party (UPP). He speaks on the dissolution of council executives. TEMITOPE OGUNBANKE reports

How do we wriggle out of this and do you support the notion that they should be scrapped? I don’t think they should be scrapped. We must begin to learn how to make them function as they should. I think they need more supervision from the state governments; we need a state government that must insist that the chairmen must do their jobs. So, we shouldn’t scrap them, we should just develop them. One other thing we can think of if these selected ones do not work is to look at the appointment of local government chairmen.

How do you see the dissolution of elected local government executives by governors or the court? It is very disturbing because it has to do with the law of the land. Governors ought to allow the local government system to thrive so far the election of local government chairmen followed due process. But we have seen that some governors are not doing that; they are dissolving local government chairmen at will. Unfortunately, the court that has to deal with this issue has not been reliable in terms of justice because there is no change from the old order that he who has more money gets justice.

Politics

NEW TELEGRAPH MONDAY, JULY 13, 2015

to freedom

Ortom

Emmanuel

for local government autonomy by the National Assembly as hasty without first considering the problems of executive recklessness and ineffective administration at the local level and warned that the amendment will lead to the hijack of some local government administrative structures by a few powerful individuals without the oversight the state government currently provides. Similar views were held by the current Osun State governor, Rauf Aregbesola, who have persistently argued that local government autonomy will remain impracticable except there is a fundamental restructuring of the federal system of government. His words: “There is no provision for the local government system in a federal structure. It is only the government at the centre and the state government that exist in a federal system of government. Lo-

cal government should not be seen to be outside the state government. Allocation going direct to local governments defeats the principle of federalism but that doesn’t mean that the councils should not enjoy some level of freedom.” “The local governments must be the creation of the states and supervised by them, including their structures,” Aregbesola added, drawing inference from the federal systems in the United States, Switzerland, Austria and Germany to buttress his position. The trend continues The trend has always been that as soon as a new governor, especially from the opposition party comes to power, the local government structure would be dissolved. And any succeeding chairman who refuses to allow his/her federal allocation to be tampered with gets the boot.

democratic process – Okorie Our justice delivery system has remained very disappointing. This is the unfortunate part, otherwise governors wouldn’t be doing it but they are doing it because they believe the judiciary will pander to the wishes of the power that be. So, the situation is disturbing and the judiciary would have to look at it very well because before you begin to go through all the process to the Supreme Court, the tenure you are talking about would have expired. It has happened like that before.

Okorie

At present, the polity is being rocked by dissolution of council administrations – elected or appointed – by some newly elected governors and subsequent appointment of caretaker committees in their stead. The states, so far involved are Akwa Ibom, Plateau, Kaduna, Bauchi, Rivers, Niger, Benue and Kebbi. Some others have gotten approval from their respective Assembly to go ahead to sack duly elected council chairmen, and it is a matter of days they carry out the directive. The gale of sack, however, calls to mind the July 2014 ruling of the Supreme Court that state governors do not have the powers to sack elected officials. The apex court, had while delivering judgment in the case of the removal of 148 elected local government officials by the Abia State government in 2006, unanimously held that the action was illegal and amounted to “official recklessness.”

What do you think is the implication of this? It is the destabilisation of democratic process, especially at the grassroots level where it ought to be deepened. It was said that politics is local and the grassroots level, which local government represent is a starting point of any democratic development and growth. So, if it is now being toyed with by governors, it portends danger to our democracy. So, everybody should condemn it and local governments should be made stronger to make it difficult for governors to do as they wish. What is your take on local government autonomy? I have always been in support of it because that is the only way there would be development at the grassroots. We know that in a country that practise presidential system of government, local governments are major base for grassroots development and I have always call for their autonomy.

There is no provision for the local government system in a federal structure

Akwa Ibom The Akwa Ibom House of Assembly, last Thursday, dissolved the 31 Local Government Councils in the state. The Speaker of the House, Hon. Aniekan Uko, who made the pronouncement in Uyo, directed the chairmen to handover all government property to the councils’ Head of Service. He said this was in line with the 1999 Constitution as amended, as the tenure of the present local government chairmen would expire by 12 midnight on July 10. Uko recalled that the councils were inaugurated on July 11, 2012 for a three-year tenure. The Speaker also directed the Clerk of the House, Mrs. Mandu Umoren, to communicate the decision of the House to Governor Udom Emmanuel for necessary action. Plateau In Plateau, Governor Simon Lalong, denounced his earlier promise not to tamper with the structures at the local government level even though they are basi-

cally Peoples Democratic Party (PDP)-controlled, claiming that he believes in the rule of law. The governor had during a visit by the council chairmen before his inauguration, pledged that he would not tamper with the structures at the local government. But in a twist last week, he approved and announced the immediate dissolution of the councils with immediate effect. Probably, worst hit by the dissolution was the chairman of Langtang North Local Government Area, Mr. Daniel Dul, who was only sworn in three weeks ago by Lalong. Dul had won his mandate at the tribunal after a protracted legal battle and was sworn in by the governor only to be sacked alongside others a few days later. Kaduna Kaduna State Governor, Mallam Nasir el-Rufai, was less than two weeks in office when he sacked 23 local government sole administrators, and secretaries of development areas appointed by his predecessor. He, however, replaced them recently with another set of appointed sole administrators though he granted them fiscal autonomy as the state and local government joint account has been abolished. The governor also announced that henceforth, 10 per cent of Internally Generated Revenue (IGR) would be remitted to local government councils. He said with this development, council chairmen cannot afford to fail the people, warning the sole administrators to desist from residing outside their localities. According to him, any of them who cannot live within the locality should vacate the office. His words: “You have no excuse to fail. Perform and bring real development to our state at the local government level. I am using this occasion to fulfil our campaign promise. During the campaigns, we said we will not hold local govCONTINUED ON PAGE 16

Council chairmen should complete tenure – Tanko Dr. Yunusa Tanko is the National Chairman, Inter-Party Advisory Council (IPAC). He speaks on the sack of elected council chairmen by governors. TEMITOPE OGUNABNKE reports How do you see the dissolution of councils by either the governors or court? What should be of concern is the emergence of the local government council. Once the emergence of the local government chairmen followed due process and constitutional provisions; they have no problem. Anybody that used superior power to dissolve them without going through the normal culture of democratic setting is doing damage to democracy. When somebody is elected ac-

elected; that person should be allowed to finish his tenure of office as being elected.

Tanko

cordingly, you can either fault his election through the court appropriately or allow the institutions to do its normal duties, if the officer is found wanting. The problem we have is that there are some governors at the moment who have not had elections into local governments in their states for many years and what they do is that probably at the end of their tenure, they would rush local government elections. But once the constitution has been followed accordingly and someone is elected the way he should be

Do you think there is autonomy for local government in Nigeria? I support local government autonomy because autonomy gives them the right because they are closer to the people. And once they can perform their duties, you will see the progress of democracy being delivered to people directly. So, anybody that is not granting autonomy to local government is doing damage to democracy. If they continue in that trend, it means that that they do not believe in autonomy of local government. But for anybody who believes in the autonomy of local government just like the presidency believes in the autonomy of the state, then they must be allowed to perform their duties accordingly. I believe that elected council chairmen should not be dismissed by governors unconstitutionally because they are duly elected just like governors are duly elected.

16 Politics

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

ernment funds if elected. “Therefore, I am happy to inform you that the government under our watch has formally abolished joint account in Kaduna State, there will be no more holding of local government funds hostage under the pretence of joint account. “I also wish to inform you that the government will do its best to be remitting 10 per cent of the state’s IGR to the local government areas. Like I said, we must deliver, we can’t let our people down. “In addition, you are to swing into action and commence carrying out meaningful projects in all the wards in your council. Already there is a blueprint of proposed development which you will see and work with as a guide to taking development to our communities.” Niger Following the dissolution trend, Governor Abubakar Bello of Niger State, also last week, announced the dissolution of the caretaker committees of the 25 councils in the state. But, unlike his counterparts, Bello directed that Directors of Personnel Management in the councils to “take charge” until further notice to avoid creating vacuum in the council’s administration. Chief Press Secretary to the governor, Dr. Ibraheem Dooba, who spoke on the development, said his principal consulted widely before the dissolution and expressed optimism that the new order will have no negative consequences on his administration. “The governor consulted widely before dissolving the council caretaker committee chairmen and I am sure we will do anything that will go against the law, exceeding the constitutional three months mandate in office before conducting council election. “The government has not perpetrated any illegality by dissolving the caretaker committee chairmen constituted by the immediate past Peoples Democratic Party (PDP) administration of Babangida Aliyu in January and renewed in April 2015,” Dooba said. He stated that Bello has consequently directed the Niger State Independent Electoral Commission (NSIEC) to prepare for possible conduct of local government council election soon. Bauchi In Bauchi, Governor Mohammed Abubakar, while announcing the dissolution of all local govern-

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Abubakar

Okorocha

Amaechi

Govs bare fangs on councils ment caretaker committees in a state broadcast three days after his inauguration, directed them to hand over the affairs of the local governments to their respective heads of personnel management. He said: “Let me use this occasion to formally announce the dissolution of all local government caretaker committees with immediate effect. The respective administrators are directed to hand over all affairs of local governments to their head of personnel management.” The sacked caretakers committees were appointed in June 2014, by the then administration of Mallam Isa Yuguda. Benue The Benue State governor, Samuel Ortom, equally approved the dissolution of the 23 local government caretaker committees in the state just few days in office. A statement signed by Barrister Targema Takema, Secretary to the State Government (SSG) directed caretaker committee chairmen to hand over to the Directors, General Services and Administration of their local governments. The statement requested the directors to ensure quick handing over and taking over so as to facilitate smooth governance at the third tier of government. Kebbi On July 2, the Kebbi State governor, Atiku Bagudu, announced the dissolution of the 21 local government councils of the state. His action followed the court’s dismissal of a suit filed by the council chairmen challenging their sack from office. The council chairmen had argued that they ought to be in office for four years, not two, having commenced their tenure on September 17, 2012. The governor who was represented by his deputy, Samaila Yombe, at a press briefing to announce the dissolution, said the dissolution is with immediate effect. He directed all the chairmen to immediately hand over their offices and the government properties in their possessions to the Directors of Personnel Management in their respective councils. He also approved the immediate redeployment of local government secretaries, cashiers and account clerks who are above grade level 07 to local government service commission for re-assignment.

A local government council not democratically elected shall... not be entitled to any revenue allocation from the Federation Account

Rivers Rivers State governor, Nyesom Wike, also relied on the court to sack the 22 local government council chairmen elected on May 23 by then outgoing administration of former Governor Amaechi. A Federal High Court sitting in Port Harcourt on July 9 averred that the conduct of the election that produced the council chairmen was not only illegal but an affront on the court because the matter was pending in court, noting that the Rivers State Independent Electoral Commission (RSIEC) and the state government were directed not to go ahead with the poll but the order of court was fragrantly disobeyed. The election was conducted by the Prof. Augustine Ahiazu-led defunct RSIEC. Wike, shortly after the ruling last week Thursday forwarded names of caretaker chairmen to state Assembly, which immediately approved them and they were sworn in same day. However, the new council bosses are yet to take charge as men of the state Police Command, the following day (Thursday), barricaded entrances into the secretariats of 22 out of the 23 local government councils in the state, denying the newly sworn in caretaker committees access to the councils. The policemen said their action was based on intelligence report that some persons were planning violence in reaction to the court’s sacking of the council chairmen elected at the twilight of Amaechi’s administration. Kastina In Katsina, it is just a matter of days before the council chairmen are sacked as the state Assembly, last week, recommended the immediate dissolution of the 34 local government councils in the state. Also recommended by the House was the probe of the Ministry of Local Government and Chieftaincy Affairs and scrapping of the state/ local government joint account to allow some autonomy and ensure development in the grassroots. The recommendations were the high points of a report of the Special Committee of the Assembly set up to investigate allegation of diversion of funds from Local Government/SURE-P accounts to ALGON account.

The House said the dissolution shall be in line with the provision of Section 81A (b) of the Local Government Law as amended. The committee had stated in its report that it observed several violations of section 7A and 7B of the Joint Local Government Account Allocation Committee Law (CAP 69) of Katsina State as amended and Regulation No. 713 of Financial Regulation No 72 Vol. 96 of 2009. According to it, the said law stipulates that personal money shall in no circumstance be paid into a government bank account nor shall any public money be paid into a private account. Hope in the offing Despite the position of the state governments, hope is not yet lost on autonomy for the councils given the assurance by President Muhammadu Buhari, during his inauguration on May 29, to ensure that the three arms of government act constitutionally to serve the country optimally and avoid the confusion bedevilling governance. The President said: “Elsewhere, relations between Abuja and the states have to be clarified if we are to serve the country better. Constitutionally, there are limits to powers of each of the three tiers of government but that should not mean the Federal Government should fold its arms and close its eyes to what is going on in the states and local governments. Not least the operations of the Local Government Joint Account. “While the Federal Government cannot interfere in the details of its operations, it will ensure that the gross corruption at the local level is checked. As far as the constitution allows me, I will try to ensure that there is responsible and accountable governance at all levels of government in the country. For I will not have kept my own trust with the Nigerian people if I allow others abuse theirs under my watch.” No doubt, the sacking of the caretaker committees and their replacement with the same illegal entities is meant to pave the way for the new governors and their cronies and proxies to continue the looting spree, but Nigerians cannot wait to see how the contradictions in the constitution, which have aided the diversion of funds meant for the councils would be tackled by the Buhari administration.

Politics 17

NEW TELEGRAPH MONDAY, JULY 13, 2015

UCHENNA INYA writes on the resignation of local goverment caretaker committee chairmen and development centre coordinators in Ebonyi State following their probe by the state’s House of Assembly

Umahi’s hammer falls on LG chiefs

fter the assurances given by Governor Dave Umahi of Ebonyi State that he would work with the local government leadership in Ebonyi State despite the fact that they worked against his election and the Peoples Democratic Party (PDP) in the last general elections, the 13 caretaker committee chairmen and 64 development centres coordinators suddenly tendered their resignation letters on June 30. The reason for their resignation is not far-fetched. They saw what they did not expect; probe by members of the state House of Assembly who accused them of embezzlement of public funds and other gross misconduct. The council leaders considered this as political witch-hunt which the governor had earlier assured them that he will not embark on. While addressing the council executives at the Akanu Ibiam International Conference Centre, Abakaliki, Umahi expressed dismay that they (council chairmen) were avoiding public functions since he came on board on May 29. He told the local government leadership to attend any invitation extended to them by members of the state House of Assembly any time they are invited for interrogation on their activities in the office. Umahi demanded complete loyalty from the council executives the way they did to his predecessor, Martin Elechi. He said: “I should somehow praise you for your loyalty to the past governor and I am not saying it to patronise you even though some of you were very excessive but I bear no grudge because you shouldn’t have left the former governor to support me. I am a rational person because the former governor was your boss and loyalty demands that you should give that to him. Now I am on seat, I demand the same level of loyalty from you. “We stand for the project of Ebonyi State and I will not witchhunt anybody. We will not retaliate whatever wrong we feel we suffered during our struggle to come into power. I will not probe the past administration of Elechi in the state; we have no intention of probing the past administration because I was part of that administration.” Two weeks after, the caretaker committee chairmen were made to give account of their stewardship which prompted their sudden resignation. They even

Umahi

Odefa

Nwali

Elom

defected to the All Progressives Congress (APC) before their exit, though they said their action was to encourage a national leader of the party, Dr. Ogbonnaya Onu. Eleven of the 13 chairmen tendered a joint resignation letter to Governor Umahi which was rejected. Those that tendered joint resignation are; Tony Ekoh (Afikpo North), Egwu Chima (Afikpo South), Chaka Nweze (Ohaozara), Edwin Okeh (Ezza South), Stanley Odanwu (Ishielu) and Mrs. Chinyere Elom (Ohaukwu). Others are; Jeff Ogbu (Ezza North), Mrs. Chinyere Nwanoke (Onicha), Godwin Nwaogha (Izzi), Paul Iganga (Ebonyi) and Moses Nwekoyo (Ikwo). The caretaker committee chairmen had on several occasions pleaded that they be allowed to resign, a request that was said to have been declined by Governor Umahi. This might have forced them to resort to newspaper advertorial to announce their resignation to the members of the public. But before the advert could come out on

We are not interested in court action or Economic and Financial Crimes Commission (EFCC). We will negotiate on how you will bring back the money

June 30, the governor got wind of the plan and announced on June 29 the termination of their appointments. The governor, who announced their sack on the floor of the Assembly while re-presenting the 2015 appropriation bill, said that all the appointments made in the local government areas would cease to exist by the end of June. He acknowledged that the council chairmen had visited him in his office and pleaded that they be allowed to resign from office, adding that the announcement is a concession to their request. He added that the sack of the council chairmen and the coordinators would not stop the probe of the chairmen by the members of the House of Assembly. He added that the House would continue the investigation of the fraudulent activities in the council areas in the last six months. While addressing contractors handling projects for the state government, Umahi called on the 13 caretaker committee chairmen to make available the public

funds they allegedly stole to be free from the on-going probe by the state House of Assembly. He said: “People destroyed the local government system, embezzled all kinds of money and when the House of Assembly asked them to come and account for them, they said government is chasing them because they are in APC. “I said if they like let them be in the Peoples Democratic Party (PDP) or whatever, but if you stole any government money you will bring it out. There is nothing that will stop you from producing it and I am happy that all parties in this country are on the same page because the only way this country can develop is when we fight corruption. Anywhere anybody runs to hide, the person can hide there but if you stole money you will bring back the money. “We are not interested in court action or Economic and Financial Crimes Commission (EFCC). We will negotiate on how you will bring back the money to improve the lives of the people and then you are a free person. If you don’t bring it but run to belong to Obama’s party to be free from your problem, there is no way for you until you do what we are demanding from you.” Meanwhile, a report by the House of Assembly ad hoc committee set up to investigate the allegations of financial misappropriation has indicted the caretaker committee chairmen and 64 development centre coordinators. The committee also indicted the immediate past Commissioner for Local Government and Chieftaincy Matters, Chief Celestine Nwali. Others indicted by the report included the Permanent Secretary, Ministry of Local Government and Chieftaincy Matters, Dr. Ifeanyi Umoke; Heads of Personnel Management (HPMs),Treasurers, Cashiers and HODs of works of the local government areas and development centres. According to the report, Nwali, who was the chairman of Joint Allocation Committee (JAC), and Umoke, the secretary liaising with the 13 council caretaker chairmen carried out illegal deductions from the federation allocation to the local government councils of the state. The report also stated that the caretaker chairmen, treasurers, cashiers and HODs of Works also collaborated and illegally withdrew money from their councils’ bank accounts, pay unaccounted money into their private bank accounts, divert fund through fictitious projects and in most cases inflated cost of projects. The report presented by the chairman of the ad hoc committee and Deputy Speaker of the Assembly, Chief Odefa Obasi CONTINUED ON PAGE 20

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Opinion The trending game of hypocrisy Dominik Umosen

ou can pardon me if you think yours truly sounds below his elements but that is only to be expected. How else would you feel if your leader is proven to possess the capacity, like every normal human being, to tell less than the truth at any given time and depending on the motivating circumstances? While I am certain that the new academy of sycophants is already on guard, ready to blackmail me as an agent of the opposition which is sworn to see nothing positive in this dispensation, yours truly must quickly volunteer that he was definitely crestfallen after the presidential claim that he inherited an empty treasury was invariably shredded by superior argument and available evidence. One was in this state of near stupor, wondering who errant governors who have not paid their workers for months would cope when word arrived that the allegation of an empty treasury was, after all, a political statement that ought to have been accepted by citizens with more than a pinch of salt. Jokingly, an acquaintance reminded me how naïve I may have become, judging by how I failed to realize that any one desperate enough to suspend his personal principles in order to grab power would feel no qualms about spicing the cocktail with a few more incorrect truths- just to facilitate his political objective. After I was so rudely confronted, it became very much easier to accept the fact that the same

quirk of mischief that inspired Vice-President Yemi Osinbajo to refuse to admit that most creditor states in the country were APC-controlled could have also inspired the president to disseminate the political statement that the treasury is empty. After that admonition, it became possibly to swallow the painful fact that the president, who is famous for his integrity antecedents, is human after all, including all the foibles that are possible therefrom. It still hurts, no doubt, to realize that my hero is human after all but I will definitely live with this painful realization. In spite of this deconstruction of my hero, I insist that he is still soars, head and shoulder, above many of his political compatriots, who would not see any thing incongruous in the make-belief that government was on top of the anti-terrorism drive when, in actual fact, soldiers were fleeing from battle with bandits and into the warm embrace of the rolling hills of Cameroun. It is with the same sense of regret and disappointment that I view spurious allegations by the former governor of Yobe State, Sen Bukar Abba Ibrahim that a primary cause of insurgency in the North-East is poverty among the ordinary folks. Each time every self-serving leader like this ignites the gallery with misleading claims that the scourge of insurgency in the region is rooted in poverty, I become excited. Excited not because one is over-endowed with adrenalin but because this a politician who should be stoned by members of his constituency because when he had the opportunity to make a difference in the tear-jerking lives of the ordinary people of

the zone, he chosed to run in the exact direction of common sense. Instead of initiating poverty alleviation schemes which are desperately required by the people of the zone who have been long duped by their political leaders, Ibrahim embarked on a vigorous programme to acquire state-of-the-art limousines and eye-popping palaces for emirs who constitute less than two per cent of the population. When his political short-sightedness eventually caught up with him in the form of an ill-digested religious rebellion, he joined other stakeholders in hypocrisy to criticize Dr Goodluck Jonathan for engineering poverty in the region. Yet, these comradesin-hypocrisy could not explain the fact that in spite of producing some of the wealthiest citizens of this country, the region also boasted of the most wretched of the earth. It is hardly different from the largely-unhinged propaganda of uncommon transformation of former Akwa Ibom State governor, Obong Godswill Akpabio who has since fled to the Senate in the futile hope of escaping the harsh judgement of history. Assuming that there was transformation or the will to make this possible, not to talk of rendering it in uncommon fashion, somebody should have had the ;presence of mind to realize that building a multi-billion naira stadium in a state where a miserable few can afford N500 gate fee amounts to wrong-headed logic which permitted lieutenants to bleed the state under the misnomer of transformation. I shudder to think what would happen if the president, whom Nigerians expected so much from, becomes a victim of this trending game of hypocrisy.

The Economist and our beloved naira Tope Fasua

here has been this unnecessary brouhaha surrounding CBN's decision to stop selling cheap foreign exchange to importers of certain items, including (you won't believe this), eggs, milk, furniture, rice, private jets, and of course, those who want to invest in eurobonds and some other financial market instruments, among other items. Some people, notably financial markets operators and neo-liberal economists have argued stridently against this move, suggesting instead that the Central Bank of Nigeria is barging into the fiscal turf. Some say it should merely allow the forces of demand and supply to determine the value of the Naira and not regulate which product it sells cheap foreign exchange to, and which ones does not qualify. A week before this event, some top bankers had at a seminar suggested the sudden and immediate devaluation of the Naira, because according to them, the dwindling value of crude oil proceeds is putting too much strain on the economy and affecting their business. We noted at that point, that many of the banks had declared super profits this year in spite of the squeeze. So what could be the problem? The Economist Magazine promptly wrote a rather ‘cheeky’ article, titled “Toothpick Alert” (in mockery of Governor Emmanuel Emefiele’s inclusion of toothpicks as one of the items he will no longer be funding), castigating the CBN for doing what it can to stabilise FX rates. Perhaps, like some of my fellow economist, they would suggest that the Naira be allowed 'to find its level', just like the Zimbabwean Dollars

found its, somewhere close to 275trillion Zimbabwean Dollar to the US Dollar, before being promptly abandoned. Some other entities, like the IMF, would generally want to stick our heads in a drum of water, and have us gulp down a few gallons, by devaluing - or 'depreciating' - our Naira, because according to them, the Naira is 'overpriced'. Some foreign PORTFOLIO investors stepped up to the plate and announced, quite incredibly, that they will not be returning to ‘invest’ in Nigeria until the currency is devalued and interest rates are increased! I was shocked to see Nigerians supporting statements by portfolio investors (the harbingers of hot money), and confusing them with Foreign DIRECT Investors. These same portfolio guys, have had a jolly good time in Nigeria off and on, since 2005, and left us poor Nigerians holding the short end of the stick. They are way way too smart! Now they want to dictate the perfect setting for themselves for come and have another go! “Hey, give us a combo of a devalued currency and high interest rates, backed by your reserves, else we won’t come to the party!” They are really living the life, aren’t they? Personally, I had never heard such condescension directed at any economy and its managers in my few decades of being an economist and reading wide on sundry subjects. The Economist article – I think ‘article’ sort of promotes the careless writing – further turns the knife in our wound by concluding as such: “The hit list appears to have been drawn up by someone wandering around a home and a building site and randomly pointing at items. It includes Indian incense, toothpicks and wire rods as well as more obvious luxu-

ries such as private jets (demand for which could be slashed by simply barring government officials from flying in them). It also includes basics such as rice and tinned fish. Nigeria does not produce enough of these things to feed itself, but no matter. The nation must be shielded from foreign sardines. Economists find the policy baffling. Central banks usually prop up their currencies if they are worried about inflation, or allow them to devalue to depress imports and stimulate exports. Nigeria, by contrast, appears to be set on achieving both an uncompetitive exchange rate and higher inflation. Whereas many investors were impressed by the previous CBN governor, Lamido Sanusi, who was sacked for exposing corruption, they fret about the harm being inflicted by the current one. Some wonder which would be worse for Nigeria: allowing him to serve the remaining four years of his term or undermining the independence of the central bank by sacking him.” I think The Economist should tender an unreserved apology to Nigeria, or at least some of us who are equally economists here, for suggesting that our Central Bank Governor should be relieved of his job, just because he seems unwilling to kowtow to an apparently ill-digested suggestion from some of their own, to either continue to defend the Naira against every imaginable import and luxuries – including yes, toothpicks, eggs, milk, private jets and so on – or to blindly devalue the currency in the hope that, just as we were promised under the Structural Adjustment Programme in 1986 and beyond, everything will fall into place for Nigeria and all shall be well. Of course, all went bad instead, and IMF

and its sister organization, the World Bank, have had course to admit the inefficacy of their policy recommendations which plunged African countries into the Debt Trap. See http://www. modernghana.com/news/14077/1/ world-bank-admits-mistakes-in-sapimplementation.html. The Economist magazine is an avowed right-wing, neo-liberal magazine, in its own words. Which means that it is blindly in favour of ‘capitalism’ by whatever means, in favour of promoting the hegemony of western superpowers, and oftentimes, racist. It is easy to get carried away by the fact that they have built a brand, but from the moment this magazine positioned Margaret Thatcher as a 'Freedom Fighter", and Hugo Chavez as an anti-people villain, I stopped taking them entirely serious. What could be more paradoxical? Chavez lived and died trying to uplift Venezuelans from the depth of poverty - and achieved considerable success despite being pulled back violently by you-know-whom. Thatcher on the other hand destroyed the unions, killed the industries and focused Britain on Financial Markets. Today, that strategy is unraveling. Brits are living in misery, amid growing inequality. The Chinese lifted 400million people out of poverty not just by allowing them to trade, but by firstly offering responsible governance and looking inwards rather than deluding itself, just as the CBN has done. The Economist, the same one which called Africa the “Hopeless Continent” a few years ago, only to turn around and say 'Hope Rising' when the boys from Canary Wharf were here ripping us all off in our stock market. • Fasua wrote in from Lagos.

NEW TELEGRAPH MONDAY, JULY 13, 2015

EDITORIAL

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

A media partner of

Sanctity of Truth

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

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

Nigeria’s most authoritative newspaper in politics and business

Aftermath of bailout

hings took a turn for the better on Monday this week for Nigerians working for state gover nments in at least 12 states of the federation who were being owed several months of salary totalling over N110 billion. President Buhari on that day approved the sharing of $2.1bn (N413.7bn), between the states and Federal government. The money came from $1.6bn dividend and $500m tax paid by the Nigerian Liquefied Natural Gas Limited into the federation account last month. The President also directed the Central Bank of Nigeria (CBN) to package a special intervention fund of between N250bn and N300bn to provide soft loans to states for the purpose of paying backlog of salaries. A total of 18 states have been cited in the media as owing workers’ salaries, of between one and 11 months. These states, according to the Nigeria Labour Cong ress (NLC), are Abia, Akwa Ibom, Bauchi, Benue, Cross River, Ekiti, Imo, Jigawa, Kano, Katsina, Kogi, Ogun, Ondo, Osun, Oyo, Plateau, Rivers and Zamfara. Some of these states were said to be on the verge of bankruptcy, unable to also pay pensioners, least of all carry out renewal or developmental projects. Several reasons have been given for their descent to a situation of dire straits. These include: declining monthly allocations from the federation account, occasioned by fall in the price of crude oil in the international market and the discovery of ‘shale oil’, with

the resultant decline in demand for the country’s main export commodity; use of government funds to finance campaigns during the recently concluded 2015 general elections; and high cost of running government by the states, with too many political appointees earning fat salaries and allowances. Some of the states, according to reports, have also mortgaged the bulk of their federation account allocations to contractors through irrevocable payment orders with various banks. This has led to payments for these projects being deducted at source, leaving them with little or nothing to meet other needs. And as the most recent Internally Generated Revenue (IGR) data from the National Bureau of Statistics (NBS) revealed, most Nigerian states were ill-prepared to adjust to a prolonged dip in monthly allocations from the federation account. The result of imprudent management of their income, and inability to raise more funds inter nally through IGR led to the affected states owing their workers backlog salaries. The situation in a few of the affected states was so bad that there were reports of civil servants dropping dead on the streets due to severe hunger, while senior government workers, like Directors in Ministries became commercial motorcycle (Okada) riders. Things were so tough that the state governors, under the aegis of the all Nigerian Governors’ Forum (NGF), a

few weeks ago, decided to go cap in hand to beg the Federal Government for a bailout package to pay salaries. Expectedly, the President’s approval on Monday of the intervention package was hailed by the entirety of Nigerian workers, as represented by the Nigeria Labour Congress (NLC) and the Trade Union Cong ress (TUC), as well as civil rights activists. However, all of those who reacted called on President Buhari to prevail on the state governors not to misapply or misappropriate the funds once they get their states, shares and accessed the CBN loans. The General Secretary of the NLC, Dr. Peter Ozon-Eson, said: “Our appeal is that Mr. President should please prevail on the governors to ensure that when they get (the money), they should not again blow it on other things. The first priority must be defraying the arrears of salaries and pensions of pensioners who have not been paid for 11 to 12 months. ” Speaking for the National Union of Pensioners (NUP), its General Secretary, Elder Actor Zal, said: “While we commend the historic effort of the Federal Government, it is equally instructive that we demand the bailout to include the payment of pension arrears in all the states of the federation.” Zal urged Mr. President to instruct the governors to use this fund judiciously and ensure that all pensions’ arrears are settled without further delay. It is also noteworthy that some Nigerians have kicked

against the relief package, arguing that governors who ran the finances of their states aground and became unable to pay workers salaries should not have been rewarded with a ‘bailout’ package, as there is no guarantee they won’t again misapply and/or embezzle the funds. We commend President Buhari for demonstrating commitment to the welfare of workers, and taking what is arguably an extra-ordinary measure to bring succour to numerous Nigerians being owed salaries by their state governments. We also ag ree that pensioners being owed pension arrears are as important as workers being owed salaries, and should also benefit by having their arrears settled. We also share in the sentiments that have been expressed by labour leaders that the President should find a way of ensuring that this money to be released to the states, which has come to be tagged, rightly or wrongly, as a ‘bailout’ is not diverted to another purpose, misapplied or misappropriated by the governors. Finally, we demand that the governors of each and every state of the Federation, especially of states owing workers’ salaries and pension arrears prove to Nigerians, at some point in the next few months, that money has been applied for meant purpose by publishing in the newspapers details of how it was spent. This is the only way the governors could wash themselves clean of suspicion of misapplication and misappropriation of the fund.

DAILY TELEGRAPH PUBLISHING COMPANY LIMITED Managing Director/Editor-in-Chief

Funke Egbemode

Editor n Yemi Ajayi

Editor, Saturday n Laurence Ani

Editor, Sunday n Emeka Madunagu

Deputy Editor n Emeka Obasi

Deputy Editor n Ayodele Ojo

General Editor n Iyobosa Uwugiaren

News Editor n Geoffrey Ekenna

Bureau Chief, Brussels n Leo Cendrowicz

Bureau Chief, Washington DC n Marshall Comins

Editorial Coordinator, Europe n Sam Amsterdam

Bureau Chief, Abuja n Onwuka Nzeshi

Business Development Manager n Taiwo Ahmed

Sales/Circulation Manager n Oyebanji Abiodun

Head, Graphics n Timothy Akinleye

Head, Admin. n Robinson Ezeh

Politics

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Alleged corruption: Ebonyi LG chiefs sacked CONTINUED FROM PAGE 17

Odefa, reads in part: “The caretaker chairmen withdrew funds from the stabilisation accounts of their LGAs in connivance with the chairman and the secretary of JAC in contravention of Section 12 of Ebonyi State Revenue Distribution to the local government and Development Centres Law 2006. “Caretaker chairmen withdrew money from federal allocation to the local government coun-

cil in execution of joint project in contravention to section 7 subsections 3 of joint state and local government project and related matters law 0009 of 2009. “Caretaker chairmen of LGAs in collaboration with chairman and secretary of JAC carried out several deduction in councils’ bank accounts contrary to Section 8 subsection 2(9)I of Revenue distribution to Local government councils and Development Centres of 2006 and punishable un-

der subsection 2(C) of section 8 of same law. “The caretaker chairmen used the personal bank accounts of some of their staff and in some cases use their own personal accounts to siphon public fund meant for the councils; and that the chairman of Board of Internal Revenue was used to print and supply rate ticket to LGAs in manifest abuse of his office.” The committee recommended to the House that those culpable as identified should be made to

refund the money, dismissed from service and be prosecuted for fraud. Following the recommendations of the House, Governor Umahi last week relieved the Auditor-General of the Local Governments, Dr. Ambrose Edeh, Heads of Personnel Management (HPMs) and treasurers of the councils of their appointments for their alleged involvement in the embezzlement of N1.8 billion in the local government system in the last six months.

He had already sworn in a new Auditor-General of the Local Governments, Ndukwe Ukpai, to replace the sacked Edeh. The governor directed the sacked Auditor-General, Edeh, the treasurers and HPMs to report to the chairman, Local Government Service Commission, Mrs. Lilian Nwankwo, for further action. He said there will be no appointment of the HPMs and treasurers in the local government system for now, adding that

the most senior officers are to run the system. Umahi relieved the local government officials of their jobs while addressing leaders of the National Union of Local Government Employees (NULGE) and Nigerian Union of Teachers (NUT) in the state on how to clear their two-month salaries’ arrears owed to teachers and council workers. The governor directed all workers of the local government system to be redeployed to their parent ministries. In a twist, former Caretaker Committee Chairman of Ohaozara Local Government Chief Chaka Nweze, said that he is the prime target of state House of Assembly’s investigation. The House Committee investigating the local government area accounts had submitted its interim report to the House and recommended a warrant of arrest on Nweze and other chairmen who failed to honour invitation by the committee. Nweze, who hails from the same town with the governor, said the committee made its report known without final conclusion because it was witch-hunting him. “The ruling government in the state is accusing me of leading other council chairmen in defecting to the APC, but I am neither the leader of the chairmen nor the State Chairman of the Association of Local Government of Nigeria (ALGON),” Nweze said. He noted that the House was merely chasing shadows because he decamped to the APC due to his personal conviction of identifying with the party. “I have no business in the affairs of the PDPled government in the state because I worked against the party during the last general elections in the state and the House which is dominated by PDP members would always do the bidding of the government,” he said. He alleged that the House did not formally invite him before he resigned as he only heard informally from the council’s Head of Personnel Management and Treasurer that three of them were invited by the House. “I had already resigned my position as the chairman; I could have honoured their invitation if invited officially before my resignation of privately afterwards,” he said.

NEW TELEGRAPH MONDAY, JULY 13, 2015

Bail-out funds worsen naira’s woes

Sovereign Trust: Rising operating costs shrink profits

Stock Watch

Insurance

NAICOM: Who succeeds Fola Daniel?

Listing of telcos, oil and gas firms’ll deepen capital market –Sotubo

42-43

Money Line

Interview

Business What's news

Nigeria leads Africa's maize production

Nigeria has become the number one maize producer in Africa with 7.5 million metric tons of the commodity, as South Africa’s production fell by 33 per cent, from 11 million metric tons.

p.22

How FG can generate N1trn from land reforms, by experts Worried by the financial crisis rocking the country, housing experts have urged the Federal Government to execute land reforms, which have the potential of generating N1 trilion revenue annually.

p.22

L-R: Group Head, Retail Banking, South, FirstBank, Rosemary Asiegbu; Group Head, Retail Banking, Lagos Island, Tunde Owolabi; Chairman, The Asian Banker, Emmanuel Daniel; Associate Director, Management Consulting, KPMG Advisory Services, Ngozi Chidozie and Group Head, Retail Banking, Abuja 4, North Directorate, FirstBank, Muntari Zubairu, at the 2nd Annual West Africa International Retail Banking Dialogue, in Lagos. PHOTO: SULEIMAN HUSAINI

Nigeria's crude revenue from India hits N175bn in May SUBSTITUTE

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Nigeria replaces Saudi Arabia as the top crude oil supplier to India, up from number three a year ago

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Adeola Yusuf

igeria, which has become the top crude oil supplier to India, raked in N174.592 billion ($872.96 million) from crude exports to the latter in May, New Telegraph has learnt. This was contained in the latest export destination figures

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

from the Monthly Petroleum Information (MPI) published by the Nigerian National Petroleum Corporation (NNPC), which was obtained by our correspondent. NNPC revealed that Nigeria, which was reportedly the largest supplier of crude to India, exported an average of 440,000 barrels per day to the Asian country in May. "Nigeria, in the month of May, replaced Saudi Arabia as the top crude oil supplier to India, up from number three a year ago," the MPI stated. Like India, Spain, South Africa, The Netherland and Brazil also emerged the top export destinations for Nigeria's oil. Spain, according to the data, topped the list of Ni-

geria's crude importers in 2014 with 10,657,756 barrels of crude oil it imported from Nigeria in December 2014, followed by India at 8,525,406 barrels, the Netherlands 8,086,981 barrels, South Africa and Brazil 6,647,436 and 4,278,037 barrels respectively. The statistics also disclosed that Saudi Arabia slipped to second position after being toppled by Nigeria. The gulf nation was followed by Iraq while Venezuela retained the fourth slot just as

13.64m

Total barrels of Nigeria's crude exported to India in May

Iran slipped to fifth position from seventh a year ago. India, which is Iran’s biggest oil client after China, lifted an annual 66 per cent more oil from the Organisation of Petroleum Exporting Countries (OPEC) member countries in May, shipping up to 4.34 million barrels per day (bpd) of oil in May. This indicated an increase of about 18.1 per cent from the previous month. The MPI figure and development perhaps confirms Nigeria’s recent diversion of its crude oil market route to Spain and India, The Netherlands, South Africa and Brazil lost their longCONTINUED ON PAGE 22

Rates Dashboard INFLATION RATE May 2015.................................9% April 2015................................8.7% March 2015.............................8.5%

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

EXCHANGE RATE (BDC as at July 10)

USD . . . . . . . . . . . . . . . . . . . . . . N240 Pounds . . . . . . . . . . . . . . . . . . . N339 Euro . . . . . . . . . . . . . . . . . . . . . . N257

l Foreign Reserves – $29.719bn as at 8/07/2015

Source: CBN

EXCHANGE RATE (Interbank as at July 10)

USD . . . . . . . . . . . . . . . . . . N200.00 Pounds . . . . . . . . . . . . . . . . N315.27 Euro . . . . . . . . . . . . . . . . . . N225.60

Business | News

EFFICIENCY Brazil surpasses five major African countries

Bayo Akomolafe

igeria has become the number one maize producer in Africa with 7.5 million metric tons of the commodity, as South Africa’s production fell by 33 per cent, from 11 million metric tons. The country is leading South Africa, Ethiopia, Egypt and Zambia whose total production was 31.74 million metric tons worth $5.851 billion this year. Global price of maize per metric ton has increased to $184.35 since May 2015. However, the total output of the five countries put together is not up to Brazil’s total production, which is 75 million metric tons valued at $13.826 billion. It was learnt that the countries may depend on imports from Brazil, United States and China to meet their local demand due to sharp drop in the crop this year. Data obtained from World Grain Council revealed that South Africa produced 7.37 million tons, Ethiopia - 6.5 million tons, Egypt - 5.96 million

Nigeria's crude revenue from India hit N175bn in May CONTINUED FROM PAGE 21

standing market share with the United States, which for a very long time was its export destination with its preference for Nigeria’s oil. The documents showed India as the world’s fourthbiggest oil consumer. It imports about 80 per cent of its oil needs, with most of that coming from the Middle East. However, a boom in US shale oil freed some of the supplies from Latin America and Africa for Asia, reducing the share of Middle Eastern oil in India’s overall purchases this year. The records stated that as the slide in oil prices impacted the economies of traditional oil producers, the weightage of African and Latin American crude in India’s total oil imports rose a year ago. And during a fivemonth period of January to May 2015, Nigeria was reportedly the third largest supplier of crude to India with an average of 440,000 barrels per day.

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Nigeria leads Africa's maize production Five countries’ output hits $5.851bn

tons and Zambia - 3.380 million tons. Other maize producers are Malawi - 3.9 million metric tons, Kenya - 2.6 million metric tons, Mozambique - 1.9 million metric tons, Ghana - 1.8 million metric tons and Angola -1.68 million metric tons. Also, Mali had 1.6 million metric tons, Cameroon -1.6 million metric

tons, Burkina Faso - 1.4 million metric tons and Zimbabwe - 1.3 million metric tons. The poor outlook for 2015, according to Food and Agricultural Organisation (FAO), is expected to result in increased imports in Southern Africa, with forecasts for aggregate maize imports in the 2015/16 marketing year

(May/April), indicating an increase to about 1.8 million tons, approximately double the low level of 2014/15 and one third above the average. The bulk of the growth in imports is expected from South Africa, mainly consisting of yellow maize used in the feed industry. In 2014, South Africa - the sub-region's main

producer and exporter which accounts for most of the overall decline in maize production, recorded 33 per cent drop. The country produced 11 million metric tons in 2013. Already, the FAO has raised the alarm that Southern African countries would experience sharp fall in maize production this year. It said that harvest could dip 26 per cent below 2014 bumper level, pushing up prices and increasing import needs The organisation ex-

plained that the fall was due to the impact of erratic weather conditions, including the late start of seasonal rains in November/December, 2014, followed by heavy rains that caused flooding in parts of some countries this year. The FAO's Sub-regional Coordinator for Southern Africa, Mr. David Phiri, said: "Last year, the subregion saw a bumper harvest, which has made this year's harvest prospects look even weaker; so, we have to be cautious until governments, often with the support of FAO, have completed all the assessments in the coming days. FAO is closely monitoring the situation on the ground."

L-R: Managing Partner, Brandzone Consulting LLC & Brand consultant to The George Chizor Malize; Managing Director, The George, Dorcas George; Lagos State Governor, Akinwunmi Ambode and Chairman, The George, Tein George, at the opening of The George (a quintessential ultra-luxury hotel brand) in Lagos.

INSENSITIVE Lagos State policy on land use is quite interesting, sound and progressive, but harsh

Dayo Ayeyemi

orried by the financial crisis rocking the country, housing experts have urged the Federal Government to execute land reforms, which have the potential of generating N1 trilion revenue annually. One of such reforms, they stressed, is the site and services scheme. This was among the suggestions made by the immediate past Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos chapter, Pastor Stephen Jagun, Akin Olawore, a Lagos-based estate surveyor and valuer and Chief Olusegun Bamgbade, Chairman, H.O.B. Housing Estates. Jagun said that government could embark on site and ser-

How FG can generate N1trn from land reforms, by experts vices scheme, which seeks to tax people based on the plots of land provided to raise huge money from land resources like what the Lagos State government is doing presently. Lagos alone raked in N27 billion last year from this exercise. “Government can raise money through the sale of plots of land, collection of grant rent, land use charge and approvals, among others,” he said. Jagun pointed out that Dubai government developed its real estate by providing infrastructure to encourage investment. “Nigerian government can do this by embracing site and services scheme with the provision of good roads, water supply, transportation and power supply. People will go there to build. The grant of title alone can generate money for government,” he said. Olawore, who noted that the prosperity of the nation is linked to the way govern-

ment harness and manages her landed resources, said that if government creates 100,000 hectares of active land and sells them at N10,000 per hectare per annum, this would amount to N1 trillion. He, however, raised concerns on the method to be adopted to raise the levies and collect them. “One trillion square metres is only 100,000 hectares, so, assuming we have only 100,000 hectares active land in the country at N10,000 per hectare rate per annum, you can generate N1 trillion. So, the next is how to levy and how to collect,” Olawore said. Corroborating Olawore and Jagun, Bamgbade explained that with a continuous principle and policy, the Federal Government would generate over N1 trillion from land within five years. He said: “In reality, Federal Government cannot feasibly generate N1 trillion from land

within a year, but as a continuous principle/policy, the Federal Government can generate over N1 trillion from land within five years. “But if we are talking about the three tiers of government, that is the federal, state and local governments collectively, over N1 trillion can be generated from land within one year if the land policy is well articulated.” Consequently, the HOB boss enjoined the Federal Government to emulate Lagos State’s Land Use Reform, but apply a human face to it. He said: “Lagos State's policy on land use is quite interesting, sound and progressive, but harsh. It does not have a human face. The Federal Government should look into it and pick some ideas on how to raise funds through land, but should jettison the overbearing costs applicable on lands in Lagos State for the benefit of Nigerians.

INTERNATIONAL WEEKLY

In collaboration with

Sanctity of Truth

Unused Embryos, Hard Choices By TAMAR LEWIN

After years of infertility, Angel and Jeff Watts found an egg donor to help them have a baby. They fertilized her eggs with Mr. Watts’s sperm and got 10 good embryos. Four were transferred to Ms. Watts’s womb, resulting in two sets of twins — Alexander and Shelby, now 4 years old, and Angelina and Charles, not yet 2. But that left six frozen embryos, and on medical advice, Ms. Watts, 45, had no plans for more children. So in December she took to Facebook to try to find a nearby Tennessee family that wanted them. “We have 6 good quality frozen six-day-old embryos to donate to an amazing family who wants a large family,” she posted. “We prefer someone who has been married several years in a steady loving relationship and strong Christian background, and who does not already have kids, but wants a boat load.” In storage facilities across the United States, as many as a million frozen embryos are preserved in silver tanks of liquid nitrogen. Some are in storage for cancer patients trying to preserve their chance to have a family after chemotherapy destroys their fertility. But most are leftovers from the booming assisted reproduction industry. And increasingly families, clinics and the courts are facing difficult choices on what to do with them — decisions that involve profound questions about the beginning of life, the definition of family and the technological advances that have

Continued on Page 27

SHAWN POYNTER FOR THE NEW YORK TIMES

Up to one million embryos are stored in places like the National Embryo Donation Center in Knoxville, Tennessee.

PHOTOGRAPHS BY TOMAS MUNITA FOR THE NEW YORK TIMES

Jubair, 13, was left behind when his mother and three siblings fled their village in Myanmar for Malaysia.

Mother’s Anguished Decision Rohingya Often Pay a High Price to Flee Persecution in Myanmar By CHRIS BUCKLEY and THOMAS FULLER

GELUGOR, Malaysia — Carrying one child in her arm, a second on her back and holding the hand of a third, Hasinah Izhar waded through a mangrove swamp into the Bay of Bengal, toward a fishing boat in the dusk. Ms. Izhar, 33, had reached the muddy shore after sneaking around the fish ponds of western Myanmar, where she and about one million other members of the Rohingya minority are stateless, persecuted for their Muslim faith. She had signed up for passage to Malaysia. Her husband had made the journey two years earlier, after Buddhist mobs rampaged through villages, killing at least 200 people. He had warned her not to follow. As she reached the skiff that would take them on the first leg of a weekslong journey, one fact weighed heaviest: She had left behind her oldest child, 13-year-old Jubair. Since 2012, tens of thousands

INTELLIGENCE

WORLD TRENDS

A ‘third gender’ in Bangladesh.

Africa’s electricity trouble. PAGE 25

PAGE 24

A guard at the entrance of the Rohingya village of Thayet Oak, Myanmar. Residents need permission to leave. of Rohingya have fled Myanmar. The exodus exploded into a regional crisis in May after smugglers abandoned thousands of them at sea, with no country willing to take them in. Amid a global outcry, Malaysia and Indonesia eventually agreed to accept the migrants, temporarily. But lost in the diplomatic wrangling are the anguished choices faced by the families who leave.

Ms. Izhar knew it would cost as much as $2,000 just to bring her three youngest children to Malaysia. Taking Jubair could double the price, and she had only $500 from selling their hut in the village of Thayet Oak. She was married there at 18, and lost her first husband to a sudden illness. She relied on help from relatives to support her two gangly boys, Jubair and Junaid. A few years later,

MONEY & BUSINESS

Season of the Muslim shopper. PAGE 30

she married again and had another boy, Sufaid, and then a girl, Parmin. It was while she was pregnant with Parmin that her husband fled to Malaysia. Buddhist militants, incensed by rumors that Muslims had raped a Buddhist woman, had attacked villages across Rakhine State, the coastal region home to most of Myanmar’s Rohingya. Worried that he would be arrested like some of his friends, Ms. Izhar’s husband, Dil Muhammad Rahman, went into hiding. Then he disappeared entirely, not calling to tell her that he had gone to Malaysia until three months after he arrived. Violence against the Rohingya flared again last year. Ms. Izhar saw police officers strike a man in the head with clubs. Women living alone were especially vulnerable, and when night fell, she kept the house dark and hushed her children. By December, when

Continued on Page 26

SCIENCE & TECHNOLOGY

A tiny fish’s numbers are staggering. PAGE 32

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, JULY 13, 2015

O P I N I O N & C O M M E N TA RY INTELLIGENCE/TAHMIMA ANAM

Transgender Rights, Bangladesh Style On March 30, Labannya Hijra became a Bangladeshi hero. Witnessing the murder of the secular blogger Oyasiqur Rhaman by Islamist radicals in Dhaka, she grabbed at the fleeing assailants. Her courageous intervention led to the arrest of two men, who later confessed to the killing. The most striking part of the story, though, was that Labannya Hijra actually is a hijra, the South Asian term for biological males who identify as women. (Hijras take the group’s name as part of their own.) So, as Labannya was lauded for her bravery, she also raised the question of whether members of this transgender community could be treated as active, equal citizens of Bangladesh. Estimates of the number of hijras range from 10,000 to half a million (out of Bangladesh’s population of about 157 million). In 2013, the government granted “third gender” status to hijras. After Labannya’s heroic act, the government announced plans to recruit hijras as traffic police — a move widely welcomed. And recently the central bank has instructed financial institutions to spend a portion of their corporate social responsibility funds on the transgender community. It appears that, like Caitlyn Tahmima Anam, a writer and anthropologist, is the author of the novel “A Golden Age” and a contributing opinion writer. Send comments to intelligence@nytimes.com.

In The Marshland of South Sudan Barefoot and shellshocked, the survivors trickle into a village here with stories of rape, castration and mass murder committed by a government that the United States helped install. This civil war in South Sudan will be a top item on President Obama’s agenda during his visit to Africa this month, and I wish he could talk to these survivors. Gatkuoth Kueah Yak tells me he watched from a distance as South Sudan government soldiers tied up his 15 children and put them in a grass hut. And then, he says, he watched as the soldiers torched the hut and burned his family alive. Gatwech Them Manuar says he saw three young boys, ages 3 to 7, who had been castrated by government soldiers and left to bleed to death. He says he also saw two infants who were killed by soldiers bludgeoning them

Jenner, Labannya has become a symbol of our shifting attitudes to what we regard as normative in the realms of sexuality and identity. In a number of South Asian countries, hijras are now referred to as members of a third gender. Over the past decade, Nepal, India and Pakistan, as well as Bangladesh, have all granted them legal status. In Bangladesh, this means they may identify their gender as “hijra” in national documents like passports and ID cards. Their “thirdness” alludes simultaneously to the social exclusion hijras still face and to their ability to transcend the traditional binary confines of gender. In ethnographic terms, hijras exemplify the sometimes surprising cultural accommodations made by otherwise traditional societies in South Asia. The concept of a third gender goes back at least as far as the third century A.D., with Hindu, Buddhist and Jain texts all including debates on sexuality and gender definitions. References to a third gender crop up sporadically throughout the historical record, until the 18th century, when colonial laws criminalized all sexual acts between men and cast relationships into a rigidly binary gendered form. If this all sounds very progressive, thirdness must also be seen in the light of what it restricts, as well as what it permits. The hijra community is tightknit and hierarchical, with its own rules

The New York Times International Weekly 620 Eighth Avenue, New York, NY 10018

of kinship and power. When Labannya made her first public statement, she could only do so with the blessing of her mentor, Sapna Hijra — a figure who is somewhere between a symbolic parent and a spiritual leader in the hijra commune to which Labannya belongs. It would be almost impossible for someone like Labannya to remain within her village of origin or with her biological family. While the hijra can be “out” in Bangladeshi society, it is only within the confines of a segregated community that is largely defined by poverty, abuse and the sex trade. Bangladesh’s government has also recently refused to repeal the laws, inherited from its colonial past, that criminalize homosexuality. (Similar laws still stand in India, too.) Apart from the fact that gay men and women who are not transgender are subject to these archaic laws,

this means that while hijras are allowed to be members of a third gender, it is illegal for them, too, to have relationships with other members of their sex. In a progressive parallel universe, hijras could be seen as an authentic South Asian expression of the fluidity of sexuality and gender identity. In this ideal world, they would challenge not only our binary notions of sexuality but also many assumptions about our otherwise rigid-seeming society. But the Bangladeshi hijra refuses to comfortably fit into this framework, because she is not just defined by her hijra status but by all the cultural, social, political and economic frameworks in which she has to live. Most likely born a boy (though a small number of hijras may be biologically intersex), she will have chosen to identify as a woman. She will almost certainly be estranged from, her family. And

NICHOLAS KRISTOF

Horrors of a War Worsen against a tree. Nyakong Riek tells me that when government soldiers attacked her village, she ran with her 2-year-old son. “I was trying to pull him along,” she said. “But bullets were flying, and I couldn’t pull him fast enough. So I left him.” She says wistfully that she just hopes the boy died quickly. These survivors are of Nuer ethnicity, and they say the South Sudan Army — disproportionately composed of the rival Dinka tribe — attacked them for that reason. Indeed, they say some Dinka soldiers mockingly cut the faces of Nuer women they raped to replicate the kind of decorative scarring used by Nuer men. I interviewed survivors on a

INTERNATIONAL WEEKLY NANCY LEE Executive editor TOM BRADY Editor ALAN MATTINGLY Managing editor

ALLISON JOYCE FOR THE NEW YORK TIMES

Hijras, biological males who identify as women, have been granted legal status in some South Asian countries. Labannya Hijra sits for a portrait.

EDITORIAL INQUIRIES: nytweekly@nytimes.com SALES AND ADVERTISING INQUIRIES: nytweeklysales@nytimes.com

grassy island, surrounded by rivers and marshland, where they had taken refuge (I reached the area by helicopter with a team from the United Nations World Food Program). The predations the Nuer describe happened in May in Unity State, and they say thousands of other survivors are stuck in the marshes, preyed upon by crocodiles while still trying to reach safety. I shared the world’s exhilaration in 2011 as South Sudan celebrated independence from Sudan and became the world’s newest nation. But now it’s difficult not to feel despair. South Sudan is rived by civil war and collapsing economically; it may be on a trajectory to a failed state with far-reaching consequences for the region. The country suffers worsening famine and mind-boggling corruption. It is led by a president, Salva Kiir, whom President George W. Bush and President Obama both tried to nurture. I’ve known Kiir for a decade, and he surely faced huge challenges — but he and other leaders have failed his

country. South Sudan’s civil war erupted 18 months ago between Kiir’s army and the forces of the vice president, Riek Machar. Sudan has armed Machar, and all factions in the war have behaved brutally. The recent slaughter by government soldiers may be a response to horrific massacres by Machar’s forces a year ago. The accounts of the displaced people I interviewed are supported by a United Nations report describing a “new brutality and intensity” to attacks in the area, citing nine separate instances in which government forces raped women or girls and then burned them alive in huts. A different United Nations assessment used satellite imagery to count some 250 structures burned in a single village, Ngop. The International Committee of the Red Cross has said that its compound in Leer was looted and that 100,000 fled that county alone. “The violence against children in South Sudan has reached a new level of brutality,” warned Anthony Lake, executive direc-

she is likely to be a prostitute or beggar. As a result, she is also likely to be involved with criminal gangs who control where and how she lives, whom she sleeps with and whether she will ever be able to have children. In a broader sense, an acceptance of the hijra identity doesn’t preclude rigid notions of masculinity and femininity from dominating in Bangladesh. Men and women are still expected to fit into tightly defined gender categories that determine their access to a host of opportunities, from education to health care. And there is still a deeply embedded and rarely challenged culture of homophobia across the social spectrum. It is important to bear all of this in mind when we think about Labannya and other members of the hijra community. We may celebrate her new status as a full-fledged citizen of Bangladesh, and we must hope that her visibility as the defender of Mr. Rhaman — and perhaps soon as an official member of the traffic police — will alter her status. But it would be premature to pronounce the troubles of the hijras over. Labannya might remind us again of America’s Ms. Jenner. As we celebrate one exceptional individual, we must also press harder for the social and legal transformations that would grant broader rights for the whole panoply of sexual and gender identities: gay, hetero, trans, cis, “third” or otherwise.

tor of Unicef, alluding to the army’s assault. “Survivors report that boys have been castrated and left to bleed to death. … Girls as young as 8 have been gang raped and murdered. …Children have been tied together before their attackers slit their throats.” On his Africa trip, Obama should work closely with Kenya, Uganda and Ethiopia to impose sanctions on the families of recalcitrant leaders in all factions, so they pay a price until there is peace. The United States has donated $1.1 billion in aid to South Sudan since the civil war began, but what is most needed is tough, hands-on diplomacy to pressure all sides. Ethiopia has been trying to hammer out a peace, and it deserves more Western backing. This is urgent, because the cycle of violence makes it ever more difficult to put South Sudan together again. “I hate the Dinka now,” says Nyaluak Ngeach Tuak, whose 8-year-old son is missing. Another woman, Nyabuol Rik Puol, says she wants counterattacks as vengeance against the soldiers who tried to rape her 11-year-old daughter and then killed her sister when she protested. “What happened to us,” she told me venomously, “should happen to the Dinka, too.”

THE NEW YORK TIMES IS PUBLISHED WEEKLY IN THE FOLLOWING NEWSPAPERS: CLARÍN, ARGENTINA n DER STANDARD, AUSTRIA n LA RAZÓN, BOLIVIA n FOLHA, GAZETA DO POVO AND JORNAL O POVO, BRAZIL n GUELPH MERCURY, THE HAMILTON SPECTATOR, TORONTO STAR AND WATERLOO REGION RECORD, CANADA n LA SEGUNDA, CHILE n EL ESPECTADOR, COLOMBIA n LISTIN DIARIO, DOMINICAN REPUBLIC n SÜDDEUTSCHE ZEITUNG, GERMANY n PRENSA LIBRE, GUATEMALA n LA REPUBBLICA, ITALY n ASAHI SHIMBUN, JAPAN n DIARIO DE YUCATÁN, EL NORTE, EXPRESO, NOVEDADES DE TABASCO, REFORMA AND SÍNTESIS, MEXICO n EL DIARIO, MEXICO AND UNITED STATES n EL NUEVO DIARIO, NICARAGUA n NEW TELEGRAPH, NIGERIA n CORREO, PERU n MANILA BULLETIN, PHILIPPINES n TODAY, SINGAPORE n EL PAÍS, SPAIN n UNITED DAILY NEWS, TAIWAN n THE OBSERVER, UNITED KINGDOM n THE DALLAS MORNING NEWS AND U-T SAN DIEGO, UNITED STATES

MONDAY, JULY 13, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

WORLD TRENDS

Pilot Stress Forces Cuts in Drone Flights By CHRISTOPHER DREW and DAVE PHILIPPS

CREECH AIR FORCE BASE, Nevada — After a decade of waging long-distance war through their video screens, America’s drone operators are burning out, and the Air Force is being forced to cut back on the flights even as military and intelligence officials are demanding more of them over intensifying combat zones in Iraq, Syria and Yemen. The Air Force plans to trim the flights by the armed surveillance drones to 60 a day by October from a recent peak of 65 as it deals with the first serious exodus of the crew members who helped usher in the era of war by remote control. Air Force officials said that this year they would lose more drone pilots, who are worn down by the unique stresses of their work, than they can train. Many operators feel “undermanned and overworked,” sapped by alternating day and night shifts with little chance for academic breaks or promotion, said Colonel James Cluff, the commander of the Air Force’s 432nd Wing, which runs

Hard decisions and long hours in a key military program.

Cluff, the Air Force commander. Last year, Colonel Cluff said, top Pentagon officials thought that the Air Force could safely reduce the number of daily flights as military operations in Afghanistan wound down. But, he said, “the world situation changed,” with the rapid emergence of the Islamic State. Officials say that since August, Predator and Reaper drones have conducted 3,300 sorties and 875 missile and bomb strikes in Iraq against the Islamic State. What had seemed to be a benefit of the job, the novel way that the crews could fly Predator and Reaper drones via satellite links while living safely in the United States with their families, has created new types of stresses as they constantly shift between war and family activities and become, in effect, perpetually deployed. While most of the pilots and camera operators feel comfortable killing insurgents who are threatening American troops, interviews with about 100 pilots and sensor operators for an internal study that has not yet been released, Colonel Cluff said, found that the fear of causing civilian casualties was another major cause of stress. ILANA PANICH-LINSMAN FOR THE NEW YORK TIMES A Defense DepartTrevor Tasin, a pilot who retired in ment study in 2013 2014, called drone work ‘‘brutal, 24 found that drone pilots had had mental hours a day, 365 days a year.’’ health problems like depression, anxiety and post-traumatic stress disthe drone operations from this desert outpost about 70 kilomeorder at the same rate as pilots of manned aircraft deployed to ters northwest of Las Vegas. Iraq or Afghanistan. Drone missions increased Colonel Cluff said the stress tenfold in the past decade, on the operators belied a compushing the operators in an effort to meet the demand for plaint by some critics that flying streaming video of insurgent drones was like playing a video activities in Iraq, Afghanistan game or that pressing the misand other war zones, including sile fire button 11,270 kilometers Somalia, Libya and now Syria. from the battle made it psychoThe reduction could also crelogically easier for them to kill. Trevor Tasin, who retired ate problems for the Central as a major in 2014 after flying Intelligence Agency, which has Predator drones and training used Air Force pilots to conduct new pilots, called the work drone missile attacks on ter“brutal, 24 hours a day, 365 rorism targets in Pakistan and days a year.” Yemen, government officials Another former pilot, Bruce said. And the slowdown comes Black, was part of a team that just as military advances by the watched Abu Musab al-ZarqaIslamic State have placed a new premium on aerial surveillance. wi, the founder of Al Qaeda in The biggest problem is that a Iraq, for 600 hours before he significant number of the 1,200 was killed by a bomb. pilots are completing their obli“After something like that, you come home and have to gation to the Air Force and are make all the little choices about opting to leave. the kids’ clothes or if I parked in At the same time, a training the right place,” said Mr. Black, program is producing only who retired as a lieutenant colabout half of the new pilots that the service needs, said Colonel onel in 2013. “And after making life and death decisions all day, it doesn’t matter. It’s hard to Mark Mazzetti and Eric care.” Schmitt contributed reporting.

JOAO SILVA/THE NEW YORK TIMES; BELOW, NIC BOTHMA/EUROPEAN PRESSPHOTO AGENCY

Blackouts Stunt African Economies A woman in Cape Town had to run her restaurant by candlelight during a blackout. Power lines over an informal settlement near Sebokeng, South Africa.

By NORIMITSU ONISHI

JOHANNESBURG — In the darkened and chilly parking lot of a mall, a suburban family shared a snack on a Friday evening out. After finding their favorite restaurant closed because of a blackout, Buhle Ngwenya, with her two sons and two nephews, settled for meat pies from one of the few stores open in the mall. “It’s like death, this load shedding,” Ms. Ngwenya, 45, said, referring to the blackouts imposed by South Africa’s state utility to prevent a collapse of the national electricity grid. Despite a decade of strong economic expansion, sub-Saharan Africa is still far behind in its ability to generate something fundamental to its future, electricity. The World Bank estimates that blackouts alone cut the gross domestic products of sub-Saharan countries by 2.1 percent. The region’s electric generating capacity is less than South Korea’s, and a quarter of it is unproductive at any given moment because of the continent’s aging infrastructure. The electricity shortages and blackouts have cast a harsh light on elected officials, causing rising anger among voters. Experts say that the appointment of politically connected officials with little industry expertise at the South African state utility, Eskom, has led to mismanagement. South Africa, which has the continent’s only nuclear energy plant, has around half of sub-Saharan Africa’s generating capacity, roughly 44 gigawatts. Still, the electricity cuts contributed to a recent drop in economic growth and a spike in unemployment to 26.4 percent, the worst level in a dozen years. In Nigeria, the continent’s biggest economy, the electrical grid churns out so little electricity that the country mostly runs on private generators. When a fuel shortage struck this spring, a national crisis quickly followed, disrupting cellphone service, temporarily closing bank branches and grounding airplanes. The demand for electricity in Africa has become a major international issue. China has taken the lead in financing many electricity projects across the conti-

nent. Companies from Asia, the United States and Europe are also supplying electricity to an increasing number of countries. But it will take decades before sub-Saharan Africa enjoys universal access to electricity. Nigeria’s leaders have promised a stable electricity supply since the end of military rule in 1999, spending about $20 billion and dismantling the National Electric Power Authority, better known as N.E.P.A. and widely derided as “Never Expect Power Always.” Yet the country’s electricity generating capacity has remained virtually unchanged, about six gigawatts for a country

Voter discontent rises as electricity grids falter. of 170 million. The United States, with 320 million people, has a capacity of more than 1,000 gigawatts. Most of the $20 billion spent to overhaul the electricity sector is believed to have gone into the pockets of corrupt officials, said Akpan H. Ekpo of the West African Institute for Financial and Economic Management in Lagos, Nigeria’s commercial capital. “In some middle-class parts of Lagos, people are lucky if they now get 30 minutes of power a day.” In South Africa, in the last years of apartheid, electricity was reliable but reached only a

third of the nation’s households, few of them black. Under the African National Congress, whose leaders have governed ever since, 85 percent of households now have electricity, a remarkable accomplishment by any standard. But energy experts say that these households, many of them low-income, consume little electricity. Instead, they said, the shortages result from frequent breakdowns at aging plants and, most critically, the delayed construction of two new facilities. As far back as 1998, a government report warned that without new capacity, the country would face serious electricity shortages by 2007. A year later, in 2008, South Africa suffered its first rolling blackouts. The blackouts have affected everyone, including giant gold mining companies, small businesses and individuals. Dominating South Africa’s list of popular app downloads are ones that alert smartphone users to the impending start of a cutoff in their neighborhood or the risk of one as load shedding across the nation increases. To Ms. Ngwenya, who was sharing meat pies with her family in the mall parking lot, load shedding was not only about electricity. She blamed the African National Congress, the party that liberated South Africa and has steered its course ever since. “I always supported the A.N.C.,” Ms. Ngwenya said. “However, when it comes to load shedding, I don’t know. It’s not normal coming to a mall and carrying a torch like this man here,” she said, pointing to another consumer shrouded in darkness.

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, JULY 13, 2015

WORLD TRENDS

A Rohingya Mother’s Anguished Choice Continued from Page 23 word of ships waiting in the Bay of Bengal spread through the villages, she could not wait any longer. Now, as she heaved her children into the boat, her mind was a jumble of relief, fear and regret. Malaysia is a Muslim nation, and she believed she and her children would be safe there. Although she had not told her husband they were coming, she hoped he would welcome them and pay the smugglers. Most of all, though, she was tormented by the thought of Jubair. When it was time to leave, he was with friends in another village. She gathered up the other

Leaving one child behind, to flee persecution. children and fled. Now, as the shoreline receded, she wished she had had a chance to explain her decision to Jubair. After a few hours, the passengers were transferred to a motorboat, and later transferred to a ship. Ms. Izhar and her children huddled with a dozen women and their children on the deck. “I couldn’t sleep for six days and six nights,” she said. “One son was on my right side, one son was on my left side, and the small one was on my chest. We couldn’t move around.” The small family had become so much cargo. Smugglers took around 58,000 people, mostly from Myanmar and Bangladesh,

on the journey last year through the Bay of Bengal and the Andaman Sea, according to the International Organization for Migration. They took 25,000 more people in the first three months of this year. After about a week at sea, Ms. Izhar’s family reached a much larger ship, where they joined hundreds of other migrants. She and the children were ordered down to a stinking, crowded hold three levels below the top deck. Soon after the passengers boarded, the smugglers demanded that they hand over the phone numbers of relatives who were expected to pay for the journey. Ms. Izhar pulled her husband’s number from her tattered bundle. One of the crew told her husband that his wife was in Thailand. Ms. Izhar got on the phone and told him the smugglers were demanding about $2,100. “I don’t have the money to pay for you!” he shouted angrily, and demanded to know why she had left Jubair behind. It is not uncommon for Rohingya women joining their husbands abroad to do so without telling them. If a woman told her husband, “most of the time the husband would not allow her to leave,” said Chris Lewa, a Rohingya rights advocate. The men fear that they will be saddled with more expenses. Ms. Izhar and her children stayed in the hold for weeks while their fate was negotiated. The smugglers kept up the pressure. One whipped Ms. Izhar with a piece of plastic tubing, and they called her husband repeatedly. Haggling ensued. The smugglers’ price dropped to $1,700. Over three weeks after the bargaining began, the money arrived, most of it from an uncle.

TOMAS MUNITA FOR THE NEW YORK TIMES

Jobs are scarce in Thayet Oak, a Rohingya village in Myanmar. Children fetching water. Three days later, Ms. Izhar and her three children boarded a motorboat, and soon anchored off a beach in northern Malaysia. Ms. Izhar ended her voyage much as she had started it: trudging through the muddy edge of the sea as she waded ashore. “I felt happy,” she said. “I thought how much trouble our journey had been, and now it was nearly over.” Back in Thayet Oak, everyone seems to know Jubair, the boy who was left behind. Six months after his mother left, he remained baffled as to why she did not take him along. “I think maybe she didn’t have enough money,” he said. “I don’t know exactly.” Thayet Oak means mango orchard in Burmese, but the reality is less idyllic. Rohingya are denied citizenship by the government, and residents must seek permission before leaving. The village has no sanitation, postal service or electricity. In early May, a shrimp farmer, Salim

Ullah, noticed Jubair sitting in a shack that serves as the local grocery store. “When I asked people, they said he has no father. His mother left already,” Mr. Ullah said. “I asked where does he stay? They said he just stays on the street.” Mr. Ullah said he had taken Jubair into his home as a servant, giving him work fetching water for the equivalent of $9 a month. Jubair has spoken to his mother six or seven times since her departure. “She said, ‘Son, don’t cry, don’t be sad, stay well,’ ” he said. Two days after she landed in Malaysia, Ms. Izhar was driven to Penang Island, where her husband was working on a building site. Mr. Rahman beamed as he held Parmin for the first time. At least 75,000 Rohingya live in Malaysia as registered refugees or unregistered migrants, according to the United Nations High Commissioner for Refugees. Rohingya groups say the

unregistered number is much higher. Life is safer, and there are more potential jobs. But under Malaysian law, neither refugees nor unregistered migrants can legally work. They receive no welfare, and most of the men struggle to pick up informal jobs as day laborers. Their children cannot attend government schools. Nearly six months after her voyage, Ms. Izhar and her family share a house with 13 other people. Mr. Rahman can earn $8 to $16 for a day’s work, if he can get it. He has fallen three months behind on rent, and faces eviction. There is also pressure to repay more than $1,000 he borrowed to pay the smugglers. “We are illegal here, too,” Ms. Izhar said. “We belong to nowhere. On the ship, we thought we would have a peaceful and comfortable life in Malaysia. Now after arriving in Malaysia we face more hardships.”

Normal, for Better or Worse Most of the gay-rights attention in recent weeks has been focused on victories for samesex marriage, in a popular vote in Ireland and a Supreme Court decision in LENS the United States. But there is movement on other fronts, too. Even Exxon Mobil may be coming around. The Human Rights Campaign, an advocacy group for lesbian, gay, bisexual and transgender Americans, ranks companies on how they treat those employees. In the most recent ranking, Exxon finished last. It has been there before. Exxon has been unpopular among gays since buying Mobil in 1999 and tossing out that company’s anti-discrimination policy. For comments, write to nytweekly@nytimes.com.

But a day after the Supreme Court decision, 125 company employees marched in Houston’s gay-pride celebration behind an Exxon Mobil banner. Exxon gave its blessing. And earlier this year, it restored anti-discrimination protections for L.G.B.T. workers. Some observers see it as a business move. “Like other major oil companies, Exxon is increasingly a technology company,” Steve Coll, the author of “Private Empire: ExxonMobil and American Power,” told The Times. “They need to attract and retain the top scientific and engineering talent. They’ve been slow to recognize that it’s in their interest to move to a culture of inclusion.” It’s not just oil companies. Inclusion is having its day even in comic books, where gay characters and themes have been showing up more frequently. “Our main directive is to make these characters as modern and reflective of the real world,” Jim Lee, a co-publisher of DC Comics, told The Times. Or as

real-world as you can be while using superhuman skills to fight off the bad guys. DC’s recently revamped lineup includes a series for the superhero Midnighter, for whom being gay is just part of the package, along with his mask and his power to heal from injury rapidly. Typical superhero stuff. Typical is what readers want, according to Phil Jimenez, an artist who has worked on Wonder Woman and other comics. They don’t want to see the stereotypical effeminate gay man, he told The Times. “As long as the dude is dude enough, then he’s acceptable,” he said. The same goes for the nondudes. Shannon Watters, an editor at Boom! Studios, is the creator of the series Lumberjanes, about five girls at summer camp. “We wanted to have queer characters but not oversexualize them,” Ms. Watters said. “The normalization of queer young people was important.” Normal is not without cost, as

MICHAEL STRAVATO FOR THE NEW YORK TIMES

Employees marched under the Exxon name at a gay pride celebration in Houston recently. some gay-rights advocates are learning. The Times called the Supreme Court’s ruling on gay marriage “a crowning achievement but also a confounding challenge to a group that has often prided itself on being different.” Prejudice has by no means disappeared, and the door remains open to discrimination in employment, housing and other areas of American life. But as

progress comes, many rallying points of gay life, like the gay bar, are fading. That has left some people looking back wistfully. “People are missing a sense of community, a sense of sharing,” said Eric Marcus, the author of “Making Gay History.” “There is something wonderful about being part of an oppressed community.” ALAN MATTINGLY

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, JULY 13, 2015

Sanctity of Truth

WORLD TRENDS

Embryos in Storage, Hard Choices Ahead Continued from Page 23 opened new reproductive possibilities. Since the first American “test tube” baby was born in 1981, in vitro fertilization, at a cost of $12,000 or more per cycle, has grown to account for more than 1.5 percent of American births. The embryos with the greatest chance of developing into a healthy baby are used first, and the excess are frozen; a 2002 survey found about 400,000 frozen embryos, and another in 2011 estimated 612,000. Now, many reproductive endocrinologists say, the total may be about a million frozen embryos in the United States. Couples are generally glad to have leftover embryos, backups in case a pregnancy does not result from the first tries. “But if I ask what they’ll do with them, they often have a Scarlett O’Hara response: I’ll think about that tomorrow,” said Dr. Mark V. Sauer of the Center for Women’s Reproductive Care at Columbia University in New York. “Couples don’t always agree about the moral and legal status of the embryo, where life begins, and how religion enters into it, and a lot of them end up kicking the can down the road.” Many embryos sit in stor-

More couples are willing to help other families grow. age indefinitely, researchers say, at a cost of $300 to $1,200 a year. Some people stop paying the storage fees and leave it to the facility to figure out what to do. But most people grapple among these choices: using them to have more babies; thawing and disposing of them; donating them for research; or, like the Wattses, giving them to another family. “People might start out thinking they would donate them to research, or give their extras to someone else with need,” Dr. Sauer said. “But once they have a baby, they change their minds, thinking it would be too weird to have another child out there, just like their son or daughter.” Some cases have landed in court. So far, there has been little consistency in rulings. In Illinois, the courts have said it should be a matter of contract. But judges in Massachusetts have said such contracts are not enforceable. Other courts have called for balancing the interests, and considering whether one party has no other option for having a baby, while others still have required mutual consent by the man and the woman when the embryos are to be used. Most courts have sided with the party who does not want the embryos used.

Then there is the religious dimension. In vitro fertilization and embryo-freezing are frowned on by the Roman Catholic Church. Most evangelicals accept in vitro, but believe frozen embryos have the right to full lives. The government is of little help. While some countries have strict rules about assisted reproduction, limiting how long embryos may be frozen or how many may be transferred at once, the field remains largely unregulated in the United States. But the demand keeps rising, and, to meet it, Dr. Ernest Zeringue’s IVF clinic in Davis, California, has a program he calls California Conceptions that goes beyond embryo donation to embryo creation. The clinic buys eggs and sperm from donors whose profiles have broad appeal — tall, thin and well educated — then combines them to make embryos that are sold to three or four families. The donors and the would-be parents know the embryos will be used by multiple families. For $12,500, patients get three tries, from a different batch of embryos each time each — and a money-back guarantee for those who do not achieve a 12-week pregnancy each time. Some doctors and lawyers questioned whether it was ethical for a company to create embryos it would own until they were implanted. Others were troubled by the whiff of eugenics. But Adrienne, a San Diego woman who asked that her last name not be used, praised the program. She became pregnant with twins after the first embryo transfer. “We’d been through IVF, which was draining and upsetting and stressful, so when we heard about California Conceptions, the three tries and money-back guarantee, it was very reassuring,” she said. But the number of couples willing to simply give their excess embryos to another family are increasing. Donated embryos were used in 1,084 transfers in 2013, up from 596 in 2009. “I love it, since it provides a family to someone who’s run out of money to proceed any other way, and it uses embryos that would otherwise sit in cryopreservation indefinitely,” said Elizabeth Falker, a New York lawyer. Two weeks after Ms. Watts posted on Facebook, she found Rayn and Richard Galloway. “We talked, we Skyped, we exchanged hundreds of messages, and when they called to say they wanted to go ahead, I was so relieved I cried,” Ms. Watts said. Like the Wattses, the Galloways had had years of infertility treatment. On May 12, they headed to Knoxville to have three embryos transferred to Ms. Galloway’s womb. Only two of the three made it successfully through the thaw, but finally, Ms. Galloway was on the path to motherhood.

Simona Halep has been threatened by a fan, Jesper Andreassen, below eating jalapeños in a video.

THOMAS KIENZLE/AGENCE FRANCE-PRESSE — GETTY IMAGES

Fear Joins Women’s Tennis Circuit By BEN ROTHENBERG

Jesper Andreassen held up a plate of 10 jalapeños for the camera, then stuffed them into his mouth, one by one, proudly tossing each stem over his shoulder as he finished. He paused several times to curse, laugh, cough or shout, sounds that devolved into a series of pained growls as he neared the end. Once the last pepper had been consumed, Mr. Andreassen, a middle-aged Dane, thanked the viewer for watching. The clip, which he posted to Facebook in August, had one person as its target audience: Simona Halep, a Romanian tennis player who has been given the nickname Halepeño. For months, Mr. Andreassen had tried to prove his devotion to her online, addressing her in a barrage of flattering posts on Twitter. But in April, after seeing a rumor that she was planning to marry, he changed his tone. He became threatening and demeaning, telling Ms. Halep that she would die or never walk again for mistreating him. Ranked number 3 in the world, she was playing at a tournament in Stuttgart, Germany, when the threats surfaced, and security officials there were immediately briefed. They surrounded her practice session and searched the stands for suspicious items. Twenty-two years after Monica Seles, the top-ranked women’s player at the time, was stabbed in the back by a Steffi Graf fan during a changeover at a tournament in Hamburg, Germany, many female tennis players say personal security remains an unsettling aspect of life on the professional tour. Officials with the Women’s Tennis Association, the worldwide governing body, say they continue to make the security of tour players their number 1 concern. But at the same time, social media has brought players and fans closer than ever, and at times that proximity can be frightening. Ms. Halep entered Stuttgart with a 24-3 record, but has since lost five of 11 matches, including defeats in the second round of the French Open and in the first round of Wimbledon. After that

Social media can put sports stars in more peril. loss, to 106th-ranked Jana Cepelova, Halep attributed her recent struggles to several factors, but did not reject the notion that stress caused by Mr. Andreassen could have contributed to her slump.“Yeah, can be,” she said. “I didn’t think about this.” John Tobias, an agent for several prominent players, including Caroline Wozniacki, said safety concerns were greater for the female players he represented than for his male clients. He said he did not give out the home addresses of his female clients, even to sponsors. When new products come in, they are delivered to the agency’s office and then sent to the player by courier. “We do little things like that, just if there’s some guy who happened to work in shipping at Babolat,” he said, referring to Ms. Wozniacki’s racket sponsor. Ms. Wozniacki, ranked number 5 in the world, has posted a photo on Twitter of one of the new Adidas shoes she had received. On the inside was a handwritten note from a man named Andy, who asked her to call him and included a heart drawing and his phone number. “Very creative,” she wrote. Although Ms. Wozniacki said she took precautions, she ac-

knowledged a sense of helplessness in a global sport that allows the public close access to its stars nearly every week. “With social media and with the tournaments being where they are, if someone really wants to find you and really wants to do something, you can’t do anything about it,” she said. Pam Shriver, who was president of the WTA when Ms. Seles was attacked, said that day was a seminal moment for women’s tennis. “The world totally changed after that,” she said. Some changes were visible. Players’ chairs were placed farther from the stands, and during changeovers security personnel began standing on the court, facing the crowd. But other changes came in safety seminars given by the tour to its shaken players. “There were things like, never, ever, in a public setting, say what hotel you’re staying at,” Ms. Shriver said. “Never say to a friend across the lobby what room number you’re in.” “When you go down to work out at the hotel health club, and they ask you what room number you’re in, don’t ever write it down. When you’re a young athlete, you might not consider that. But post-Seles, you did.” Ms. Seles did not return to the sport for more than two years after she was attacked. She never regained her dominance. Heather Watson, who receives publicity outpacing her number 59 ranking as the top woman in Britain, said she had come to accept the online abuse. “Oh, I’ve had death threats,” she said. “I’ve had people threatening to kill me and kill my family, wishing that I get cancer and die a slow, painful death. Horrible words I couldn’t even think up in my head, to be that mean.” However, the most persistent concerns for female players are about their time off the court. In May 2011, a fan repeatedly pursued Serena Williams, the American tennis star, in public places, including at a radio station and her dressing room at the Home Shopping Network in Tampa, Florida. He was arrested outside her gated community. “It’s scary,” she said. “Very scary.”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, JULY 13, 2015

WORLD TRENDS

Heathrow Expansion Stalls In Britain By STEVEN ERLANGER

LONDON — About 70 years have passed since greater London got a new airport runway, seven decades of economic growth and stupendous wealth that have transformed the city into a global capital to rival New York and Paris. But every time there is fog or snow or heavy rain or even a blown tire on an aircraft, there is enormous disruption at Heathrow, Europe’s busiest airport, running now at 98 percent of capacity. Delays are common at the best of times, passengers miss important connecting flights, and even Gatwick Airport, which relies on short-haul and charter flights, is near capacity. Yet decades after it became obvious that southeast England needed at least one more runway to allow London and the British economy to keep growing, the majority Conservative government says it remains unwilling to make a politically divisive decision on the matter for at least six more months. But after three years and at a cost of more than $30 million, an independent commission announced recently that it unanimously favored building a third runway at Heathrow for economic and strategic reasons. Its choice was supported by the business lobby, the Confederation of British Industry and, subject to environmental considerations, the opposition Labour Party. Prime Minister David Cameron campaigned in 2009 on a promise not to expand Heathrow, with “no ifs or buts,” as he said then. And prominent Conservative politicians, like London’s mayor, Boris Johnson, oppose expansion. Many residents around Heathrow, despite being dependent on the airport for their jobs, have campaigned against expansion. The Heathrow choice would add $230 billion in economic growth over 60 years and 70,000 jobs by 2050 and would provide better connections to the world for Britons, including those living outside London, the Airports Commission said. The new runway would allow Heathrow to double its passenger capacity by 2050 and increase takeoffs and landings to 740,000 from about 480,000 now. The added capacity would also bring down the cost of flying for passengers. But the commission said a new runway should meet more stringent noise and environmental standards. Howard Davies, the economist who led the commission, told the BBC that Britain’s international reputation, and that of its government, were at stake. “Is London prepared to make the decisions it needs to remain a global city?” Mr. Davies asked. “I think ministers will realize a decision is needed.”

Plan to Expel Haitians Tests Close Ties Haitians who entered the Dominican Republic to work for the day returned via the river after a border gate was closed.

By AZAM AHMED and SANDRA E. GARCIA

SA BA NETA , Dominica n Republic — For decades, the people of Barrio Cementerio, a neighborhood divided evenly between Dominicans and Haitians, have coexisted peacefully. Proximity smothered prejudice. That is changing. A government plan that could deport thousands of people of Haitian descent from the Dominican Republic has started to tear at the unity that once bound this place. A bitter landlord stopped renting to a Haitian tenant. The head of the local Red Cross says the deportations are long overdue, while a gang leader promises to hide his Haitian friends from the authorities. A Dominican husband fears losing his wife and their children, who have no papers. A police officer agonizes over the prospect of having to deport his best friend. “I have no choice,” said John Tapia Thomas, the police officer. “It saddens me to think about being ordered to detain someone I really care about.” Like much of the country, Barrio Cementerio on this issue is a patchwork of sympathy, prejudice and resentment born of crowded schools, competition for jobs and a stressed health care system. But the Dominican Republic is hardly alone in dealing with migrants. The surge in migration from conflict and hardship has rattled nations the world over. With his efforts to register migrants and expel those in the country illegally, President Joanna Berendt contributed reporting from Warsaw, Poland.

MERIDITH KOHUT FOR THE NEW YORK TIMES

Danilo Medina, who is running for re-election next year, has been playing on the frustrations many Dominicans feel toward their poorer neighbors on the island of Hispaniola. So far, with the world watching, the Dominican government has not carried out the mass expulsions many Haitians fear. Still, the threat of being seized has led more than 31,000 Haitians to leave, according to government figures, opting to cart their belongings across the border rather than risk losing everything in a sudden deportation. The departures may not have been entirely voluntary. “People returning are telling me that the police are working with street gangs to force out immigrants in the big cities,” said one Haitian border guard. “Strangers are going door to door late at night and threatening to burn

people’s houses down.” In the border town of Dajabón, trucks loaded with furniture and mattresses trundled through crowds passing over Friendship Bridge, which stretches across a river where in 1937 a Dominican dictator, Rafael Trujillo, ordered the massacre of more than 10,000 Haitians. Twice a week, thousands of Haitian merchants are allowed to cross over to buy and sell everything from used clothes to crockery. A Dominican shop owner, Juan Liriano, says he pays Haitian workers about $3.50 a day, and food. He must pay Dominicans nearly $11. But he says people must follow the immigration law. “If I went to America without papers, I would be deported,” he said. “What’s the difference?” Joseph Vilno, one of his Haitian workers, has a wife and four

children back home. He paid a smuggler $65 to ferry him over the border, a small fortune for him. He wonders if he will be deported, and if he can sneak back again. “There is nothing for me in Haiti,” Mr. Vilno said. In Barrio Cementerio, a neighborhood in the small town of Sabaneta, some stand behind their Haitian friends. Others say it is time for them to leave. “If I’m living in this or any country as an immigrant, then I should get a job and work to make enough money to legalize myself,” said Francisco Peguero of the local Red Cross. Fibian, a young Dominican gang leader, refused to yield. “If the police sends a patrol to my neighborhood looking for my friends, I am going to hide them in my house,” he said. “I don’t understand why you would even ask me that.”

Russia Sees Peril In Muslim Converts By DAVID M. HERSZENHORN

ERZURUM, Turkey — As a teenager in St. Petersburg, Maksim Baidak hung out with neo-Nazis and right-wing nationalists, but the Russian security services mostly left him alone. It was not until he found God as a convert to Islam and leader of a group of ethnic Russian Muslims that he came under near-constant surveillance and was often forced into cars at gunpoint by security agents. Then, one morning in 2013, masked commandos from a special counterextremism unit arrested him. For two days, he was interrogated, at times with a black hood over his head. “I was arrested like a terrorist,” said Mr. Baidak, 28, who now lives in northeast Turkey. Russia has long lived in fear of a jihadist uprising within its own borders, particularly in the Caucasus, where it fought two wars to suppress Muslim separatists. For President Vladimir V. Putin’s Russia, Slavic, ethnic Russian converts to Islam like Mr. Baidak pose an especially sub-

versive threat by challenging the Orthodox Christian national identity Mr. Putin has used to unite the country. The government also worries that ethnic Russian Muslims will link up with other anti-Kremlin forces, including nationalists, pro-democracy groups and gay rights organizations. “I worked with the L.G.B.T. society; it’s unbelievable for Muslims, yeah?” Mr. Baidak said, describing a group, Islamic Civil Charter, now banned in Russia. “If they are agents of freedom and we fight for freedom also, we fight for our common values. Let’s fight together.” Russia’s security services were not about to let that happen. A crackdown began, leading to widespread arrests not just in the predominantly Muslim Caucasus but throughout European Russia and as far north as Novy Urengoi. The pressure by the security services has set off a wave of refugees seeking safety and religious freedom, especially in Turkey and the United Arab Emirates. Muslim leaders

SERGEY PONOMAREV FOR THE NEW YORK TIMES

Ethnic Russian converts to Islam challenge Russia’s Orthodox Christian identity. A mosque in Stavropol, Russia. and human rights advocates say that Russia’s often brutal approach has also added to the appeal of the Islamic State, with the Russian authorities saying recently that hundreds of Russian Muslims have gone to Syria. For moderate converts who have fled Russia, one obstacle to obtaining political asylum, or even more basic social service help, has been a lack of awareness among some officials that Slavic Muslims even exist. Many converts are adherents to the Salafist movement of Sunni Islam, which is often linked with extremism, if unfairly so, because it espouses more or-

thodox religious practices. Estimates of Russia’s Muslim population range from 16 million to 20 million. Grigory A. Mavrov, 35, who converted to Islam, now lives with his wife in Istanbul. He helped found two Muslim groups now banned in Russia and has been arrested three times. Last year, Mr. Mavrov was arrested in Turkey at the request of Russia and ordered deported. He hopes to receive political asylum in Turkey or elsewhere. “They don’t want independent structures, independent organizations in Russia,” Mr. Mavrov said. “They are afraid of them.”

MONDAY, JULY 13, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONEY & BUSINESS

A Pocket of Strength In Russia’s Economy By ANDREW E. KRAMER

CHEREPOVETS, Russia — Burly steel workers in this gritty industrial town have their choice of free services at the company spa in a leafy park down the road from the factory. Thirty masseuses treat aching backs and sore muscles. The spa menu at Rudnik, or the Spring, also includes hot mineral baths, mud wraps, acupuncture and a sauna — all served with organic, stress-reducing teas. Life is good for workers at the steel company, Severstal. Along with the spa perks, Severstal covers the cost of vacations to Sochi on the Black Sea. A company dental office offers two free fillings annually. Workers also got 8 percent pay raises this

Steel and other industries benefit from a weak ruble. year, along with bonuses. “A crisis has supposedly occurred,” said Andrei G. Meledin, who works on a production line. “But we don’t feel it here.” As the rest of Russia retrenches in the face of recession, steel companies like Severstal are booming. In the first quarter, Severstal swung to a $343 million profit, after reporting a loss in the same period a year ago. Falling oil prices, rising geopolitical tensions and Western sanctions have caused broad turmoil on the Russian economy. The World Bank estimates that the economy will shrink by 2.7 percent this year. But those same conditions have proven extraordinarily favorable to a certain class of Russian commodity companies, par-

ticularly in the steel and chemicals industries. Such companies, which have not been ensnared by sanctions, are benefiting from a weak ruble. These companies have significant costs for raw materials and labor, all of which are denominated in rubles. Their goods, though, are sold on the global markets, where prices are generally set in dollars. While the ruble has recovered somewhat in recent months, it still remains about 39 percent off its high of last year. And the central bank is intentionally trying to keep a lid on the ruble’s value, boding well for the companies’ profits. Russia smelts about 75 million tons of low-cost steel a year, of which 30 million tons are exported. And as an unexpected pocket of strength in the Russian economy, steel is helping the country weather the onslaught of Western sanctions and bringing runaway gains for investors who got in this winter. Shares in Mechel, a Russian steel and coal company, are up more than 180 percent since the start of the year, making it one of the best-performing stocks in the world. Share prices for a dozen or so other steel and nonpetroleum commodity exporting companies also shot up this year, leading an overall rise in the Morgan Stanley index of Russian stocks of 19 percent. “We have it all” in the Russian steel industry, Vladimir V. Zaluzhsky, the head of investor relations at Severstal, said of the benefits of a weak currency and still relatively strong global prices of steel. The success of steel reflects the scattershot effect of sanctions on the economy. Certain industries are shrugging off the restrictions, as others teeter. Strangely, sanctions hit hard

PHOTOGRAPHS BY JAMES HILL FOR THE NEW YORK TIMES

Clockwise from top, Nikolai G. Vaulin, a steel worker, bathes in mineral waters at a spa nearby for mill employees; galvanized steel at the Severstal plant; a blast furnace. in communities with a history of opposing President Vladimir V. Putin politically, such as the urban middle class in Moscow, which is reeling from inflation. The restrictions missed core supporters of Mr. Putin in some industrial and mining towns, while strikes and economic protests have broken out in others. The industry dynamics, though, have shifted. As China’s growth has slipped modestly, the ripples have been felt in the

industry. Over the first quarter this year, global prices for a main type of steel Severstal forges, hot rolled steel, fell to $320 a ton from about $400 a ton, or by about 20 percent. But the costs for Severstal and other Russian companies have fallen further, along with the ruble. To concentrate on Russian operations as conditions improved for the country’s steel players, Severstal sold a plant last sum-

mer that it had acquired a decade earlier in Michigan. The company is in the midst of investing tens of millions of dollars refurbishing blast furnaces in Russia. Factory employees here said they had not felt the bite of sanctions as many Russians had. “We make steel, and we make a lot of it,” said Nikolai G. Vaulin, a steel mill worker, as he soaked at the spa. “So we make a lot of money. And some of it ends up here.” He added, “Boy this feels good.”

With Start-Up, Google Has Bold Ambitions to Improve City Living By STEVE LOHR

Google’s ambitions and investments have increasingly broadened beyond its digital origins in Internet search and online advertising into the arena of physical objects: self-driving cars, Internet-connected eyeglasses, smart thermostats and a biotech venture to develop life-extending treatments. Now Google is getting into the ultimate manifestation of the messy real world: cities. The Silicon Valley giant is starting and funding an independent company dedicated to coming up with new technologies to improve urban life. The start-up, Sidewalk Labs, will be headed by Daniel L. Doctoroff, former deputy mayor of New York City for economic development and former chief executive of Bloomberg L.P. Mr. Doctoroff jointly conceived the idea for the company, which

Sidewalk Labs is led by Daniel L. Doctoroff, a former deputy mayor of New York City.

NICOLE BENGIVENO/THE NEW YORK TIMES

will be based in New York, with a team at Google, led by its chief executive, Larry Page. The founders describe Sidewalk Labs as an “urban innovation company” that will pursue technologies to cut pollution, curb energy use, streamline transportation and reduce the cost of city living. To achieve that goal, Mr. Doctoroff said Sidewalk Labs planned to build technology itself, buy it

and invest in partnerships. The timing for Sidewalk Labs is right, Mr. Doctoroff said, because “we’re on the verge of a historic moment for cities,” when technologies are rapidly maturing to help address needs like the environment, health and affordable housing. The arsenal of fast-developing technologies, he said, includes sensors, smartphones, and the resulting explosion of digital data combined with clever software to

help residents and municipal governments make better decisions. Major technology companies, like IBM and Cisco, already have large businesses that apply information technology to improving the efficiency of cities. IBM has used its researchers and technical prowess in projects like traffic management in Stockholm and microlevel weather forecasting to predict the location of life-threatening mudslides in Rio de Janeiro. Sidewalk Labs, Mr. Doctoroff said, planned to work in “the huge space between civic hackers and traditional big technology companies.” While big technology companies take a “top-down approach and seek to embed themselves in a city’s infrastructure,” he said, Sidewalk Labs would develop “technology platforms that people can plug into” for things like managing energy use or altering

Seeking to cut pollution, energy use and living costs. commuting habits. There is already an emerging academic focus on applying modern digital technology to cities’ physical systems. Leading examples include New York University’s Center for Urban Science and Progress, and the University of Chicago’s Urban Center for Computation and Data. “It’s great to see an ambitious private sector initiative like this recognize that cities are important,” said Steven E. Koonin, director of the N.Y.U. urban science center. “And there are technology opportunities, but they are complicated.”

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, JULY 13, 2015

MONEY & BUSINESS

Jet Fuel Made of Waste and Fats Spews Less Carbon By JAD MOUAWAD and DIANE CARDWELL

Sometime this summer, a United Airlines flight will take off from Los Angeles International Airport bound for San Francisco using fuel generated from farm waste and oils derived from animal fats. For passengers, little will be different — the engines will still roar, the seats in economy will still be cramped — but for the airlines and the biofuels industry, the flight will represent a milestone: the first time a domestic airline operates passenger flights using an alternative jet fuel. For years, biofuels have been seen as an important part of the solution to reducing greenhouse gas emissions. And airlines have been seen as a promising customer in a biofuels industry that has struggled to reach its goals. United says it plans to invest $30 million in one of the largest producers of aviation biofuels, Fulcrum BioEnergy, the biggest investment in alternative fuels so far by a domestic airline. (Cathay Pacific, based in Hong Kong, last year announced a smaller investment in Fulcrum.) The quantities United is planning to buy from Fulcrum constitute a small drop in its fuel consumption. Last year, United’s fleet consumed 14.8 billion liters of fuel, at a cost of $11.6 billion. But airlines are increasingly under pressure to reduce carbon emissions. The Obama administration proposed last month that new limits on aviation emissions be developed, and the International Civil Aviation Organization, a United Nations agency, is expected to complete its own

Fulcrum expects to open its Nevada biofuels refinery in 2017.

Pressured to cut emissions, airlines turn to biofuels. negotiations on limiting carbon pollution by February 2016. “There is a significant role for biofuels within the aviation sector, specifically for reducing carbon emissions,” said Debbie Hammel, a resource specialist at the Natural Resources Defense Council who focuses on biofuel. Airlines say they have reason to adapt, not only to reduce pollution but also to lower what is usually their biggest cost: jet fuel. Fulcrum, based in California, has developed a technology

joined with Solena Fuels to build a biofuel refinery near London’s Heathrow Airport, which will be completed by 2017. United’s deal is the airline’s second major push toward alternative fuels. In 2013, the airline agreed to buy about 57 million liters of biofuels over three years from a C a l i for n i a -ba s e d FULCRUM BIOENERGY producer called AltAir Fuels, which makes biofuels out of nonedible that turns household trash into natural oils and agricultural sustainable aviation fuel, a kind waste. that can be blended directly with United expects that the first traditional jet fuels. It is buildroughly 19 million liters from ing a biofuel refinery in Nevada AltAir will be delivered this sumto open in 2017, and has plans for five more plants. Fulcrum said its mer at its Los Angeles airport technology can cut an airline’s hub to help power the flights to carbon emissions by 80 percent San Francisco. compared with traditional jet For the first two weeks, four to fuel. five flights a day will carry a fuel United’s deal with Fulcrum is mixture that is 30 percent biofuone of many that airlines have el and 70 percent traditional jet made in recent years. fuel; after that, the fuel will be Alaska Airlines aims to use blended into the overall supply, biofuels at least at one of its airUnited said. “The AltAir project serves as ports by 2020. Southwest Airlines a catalyst intended to pave the announced last year it would way for the industry,” said Angepurchase about 11 million liters a year of jet fuel made from wood la Foster-Rice, United’s managresidues from Red Rock Biofuels. ing director for environmental The first blend of this new fuel affairs and sustainability. product, however, won’t be availBy burning biofuel products like farm waste that have already able until 2016. absorbed carbon during their Last year, British Airways

For Ramadan, Courting Free-Spending Muslims

The “Ramadan Edit” from Net-a-Porter, which heralded Ramadan with a selection of garments and accessories.

By RUTH LA FERLA

On his Armani/Dolci website and in his sweets emporiums across the Middle East, Giorgio Armani is offering a box of chocolates, date-and-honey-filled pralines sans alcohol. But his gesture has nothing on that of Monique Lhuillier, who is selling a selection of caftans on the upscale Moda Operandi site, including a version in virginal white embroidered with cascades of field flowers. Nor can it compete with Tommy Hilfiger, whose 11-piece capsule collection, available at Hilfiger stores in the Middle East, incorporates temptations like a cowl-neck black satin evening dress and a long-sleeve teal gown slit, a bit indecorously, from instep to knee. Mr. Hilfiger is among the latest in a handful of designers and merchants seeking to capitalize on Ramadan, the holiest month of the Islamic lunar calendar. (It ends this year on July 17.) A time of fasting and contemplation alternating in the evenings with festive gatherings of family and

Extravagance that would look familiar at Christmastime. friends, it has emerged in recent years as a month of extravagant spending that is rivaled, some say, only by Christmas. As far back as 2012, Euromonitor International, a market research firm in London, took note. “Like Christmas, a religious context serves as a reason for families and friends to come together,” Ilse Thomele, an analyst, observed, predicting, “a typical ‘Ramadan consumer’ is likely to emerge in the same way as the Christmas shopper as a global phenomenon.” That notion was not lost on Net-a-Porter, which heralded the month with the online announcement of a “Ramadan Edit,” featuring two fair-haired models glamorously posed in flowing garments against a backdrop of

lifetime, jet engines avoid introducing into the atmosphere new carbon from a fossil fuel that has been locked away, underground, for millions of years, Ms. Foster-Rice said. And the airlines seem to have little choice. For example, airlines, unlike automakers, cannot turn to other options like electrification, said Ms. Hammel of the Natural Resources Defense Council, which is why it is important, she added, that the fuels be sustainably produced. But despite the airlines’ interest, there are still hurdles to the large-scale development of biofuels — most notably reasonable cost and reliable supplies. “It remains quite difficult to get biofuels for aviation that is cost-effective, and to make sure the fuels will be available,” Ms. Foster-R ice said. E. James Macias, Fulcrum’s chief executive, said Fulcrum could produce its biofuel for “a lot less than” about 26 cents per liter. (United bought its jet fuel for about 55 cents per liter, on average, in the first quarter, and said its deal with Fulcrum was competitive with the price of traditional jet fuel.) By 2050, the airline industry hopes to cut its greenhouse gas emissions to half of their 2005 levels, according to the International Air Transport Association. But getting there will not be easy. “That is why it is important to actually invest and be willing to take on some of the risk,” Ms. Foster-Rice said, “and encourage the companies to really focus on jet fuel at a cost-competitive price.”

parched earth. The gambit was a bold one. “It’s the first time we’re talking to Ramadan so directly,” said Holly Russell, the senior readyto-wear buyer for Net-a-Porter. Such appeals to a deep-pocketed segment of the Muslim community have rarely been more pointed or direct. Others have been more tentative. Even houses like Hilfiger and DKNY, which is offering, for the second year, a special Ramadan collection, have scarcely dipped a toe in the water, their

capsule lines sold strictly in the Middle East. According to a study released last year by the American Muslim Consumer Consortium, there are two billion Muslims worldwide. Sabiha Ansari, a consortium founder, puts Muslim spending power in the United States alone at $100 billion. She hopes retailers will recognize Muslims as an economic force. In London, where the annual influx of Middle Eastern shoppers has been termed the Rama-

dan rush, “Ramadan has long been every big store’s unspoken secret,” said Ed Burstell, the managing director of Liberty of London. Many Muslim women are ready to part with sums ranging from $300 to several thousand dollars in a single online or store visit, temporarily setting aside their abayas and burqas for ornately embroidered caftans, colorful gowns, loosefitting dusters and all manner of gilt-edged refinements to wear in the evening and through Eid al-Fitr, the three-day festivities to observe Ramadan’s end. Neiman Marcus stores have yet to court the Muslim shoppers deliberately, but during a promotional calendar meeting at the headquarters, “Ramadan came up as an opportunity we need to understand better,” said Ginger Reeder, a spokeswoman for the company. Was Ramadan a time for gift-giving, one that includes but is by no means limited to fashion? “We need to dig deeper to find out what the opportunities are,” Ms. Reeder said.

MONDAY, JULY 13, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

SCIENCE & TECHNOLOGY

Cuddly Classroom Help For Children With Autism By JAN HOFFMAN

Guinea pigs do not judge. They do not bully. They are amiable, social and very touchable. When playing with guinea pigs at school, children with autism spectrum disorders are more eager to attend, display more interactive social behavior and become less anxious, according to a series of studies, the most recent of which was just published in Developmental Psychobiology. In previous studies, researchers in Australia captured these results by surveying parents and teachers or asking independent observers to analyze videotapes of the children playing. In the new report, however, the researchers analyzed physiological data pointing to the animals’ calming effect on the children. The children played with two

An animal that instills the idea ‘he loves me.’ guinea pigs in groups of three — one child who was on the spectrum and two typically developing peers. All 99 children in the study, ages 5 to 12, wore wrist bands that monitored their arousal levels. The first time that typically developing children played with the guinea pigs, they reported feeling happy and registered higher levels of arousal. The researchers speculate the children were excited by the novelty of the animals. Children with autism spectrum disorders also reported feeling elated, but the wrist band measurements suggested their arousal levels had declined. The animals seem to have lowered the children’s stress, the researchers concluded. Geraldine Dawson, the director of the Duke Center for Autism and Brain Development in North

Carolina, described the work as “very promising.” She said autism is associated with high levels of arousal and anxiety that interfere with social interaction. She said this modest intervention could readily be adapted by teachers coping with a scarcity of resources. “We don’t know what the mechanisms are,” Dr. Dawson said. “Maybe it’s easier to interact with others when you have a third object, rather than face-toface interaction.” Yet when children on the autism spectrum played with toys in the presence of the other two children, their levels remained elevated. “They found something about the animal itself that was helpful,” Dr. Dawson said. The activities with guinea pigs were unscripted. The children could feed, pet, groom and draw the animals. After eight weeks, many children, both typical and on the spectrum, described the guinea pig as “my best friend,” said Marguerite E. O’Haire, the lead researcher in Australia, who is now at Purdue University in Indiana. “If you ask the children what the guinea pig is thinking,” Dr. O’Haire said, “a common answer would be, ‘That he loves me.’ ” Children with autism, who have difficulty interacting socially, are vulnerable to being teased and excluded by mainstream peers. But after 16 sessions with guinea pigs, parents would tell Dr. O’Haire, “ ‘Now my child feels like she has friends she can sit with at school.’ ” She said the animals may function as “social buffers” for these children, for whom social engagement is bewildering and taxing. Hal Herzog, a psychology professor at Western Carolina University, commended this study’s rigor. “They didn’t overextend their claims,” said Dr. Herzog, noting that the researchers were careful not to describe play with guinea pigs as a type of therapy. Deborah Fein, an autism expert at the University of Connecticut, said, “There really is no downside to this intervention.”

BILLY H.C. KWOK FOR THE NEW YORK TIMES

Huso Yi of the Chinese University of Hong Kong Center for Bioethics said of gene modification work, ‘‘The consensus among the scientific community is, ‘not for now.’ ’’

Ethics Divide China and the West By DIDI KIRSTEN TATLOW

BEIJING — China is spending hundreds of billions of dollars annually to become a leader in biomedical research, building scores of laboratories and training thousands of scientists. But some experts worry ethical boundaries are being crossed. Scientists around the world were shocked in April when a team led by Huang Junjiu, 34, at Sun Yat-sen University in Guangzhou, published the results of an experiment in editing the genes of human embryos. The technology, called Crispr-Cas9, may one day be used to eradicate inheritable illnesses. But in theory, it also could be used to change such traits as eye color or intelligence. The Chinese tried to modify a gene that causes a blood disorder called beta-thalassemia. The experiment failed in 85 embryos. Scientists in the West generally object to this sort of research on the grounds that it amounts to genetic engineering of humans. “The consensus among the scientific community is, ‘not for now,’ ” said Huso Yi, the director of research at the Chinese University of Hong Kong Center for Bioethics. Chinese scientists seem in no mood to wait. “I don’t think China wants to take a moratorium,” Mr. Yi said. “People are saying they can’t stop the train of mainland Chinese genetics because it’s going too fast.” Training in ethics for Chinese scientists was introduced, under pressure from the West, only a dozen years ago. “The ‘red line’ in the West and in China are not too similar,” said Deng Rui, a medical ethicist at Shanxi Medical University. “Confucian thinking says that someone becomes a person after they are born,” he

DR. MARGUERITE E. O’HAIRE

A study has found that guinea pigs can have a calming effect on children with autism, who are vulnerable to being teased.

Vanessa Piao contributed research.

Beijing tests limits as it pushes to take the lead in genetics.

GILLES SABRIE FOR THE NEW YORK TIMES

Rao Yi at Peking University, with samples of genetically modified fruit flies. added. “That is different from the United States or other countries with a Christian influence, where because of religion they may feel research on embryos is not O.K.” The state does set limits, Ms. Deng said: “Our ‘red line’ here is that you can only experiment on embryos that are younger than 14 days old.” Chinese scientists adhere to globally accepted ethical and scientific norms, said Zhai Xiaomei, a member of the country’s National Medical Ethical Committee. But many scientists experience pressure not to do so, she acknowledged. “Inside China, there are people who are opposed to international standards, citing cultural differences,” Ms. Zhai said. “This force is actually quite powerful sometimes. “For example, they say we should use our homegrown Confucian thoughts to solve problems, as those international standards are from the West while we have our Eastern culture. But we absolutely disagree with this point of view.” In the case of Dr. Huang’s experiment, the national committee decided that it was ethically

acceptable because it “was not for reproductive purposes,” Ms. Zhai said. “They chose to use embryos that would soon be destroyed. So far, we have been regarding it as a very fundamental research, instead of interventions in or editing of germ cells,” Ms. Zhai said. But she struck a warning note: “If you want to edit genes in germ cells with the intention of using this right away, it’s absolutely not O.K., because the technology has yet to become mature.” Disturbed by the recent study, Rao Yi, a professor of biology and director of the four-year-old Center of Life Sciences at Peking University, run jointly with Tsinghua University, warned that scientific research in China urgently needed more effective ethical oversight. “The more technology we have, the more dangerous we are to ourselves and entire humankind,” Dr. Rao said. Chinese scientists are generally poorly paid, he said, but may receive a bonus of up to $32,000 per article from the state for publishing in international scientific journals, providing financial incentives for pushing the boundaries. “Do first, talk later” is the attitude of many, Dr. Rao and two colleagues wrote recently on iScientist, an online community for Chinese researchers. More unpleasant scientific surprises are looming, several scientists said. “Right now, human gene editing is the main thing,” Mr. Yi said. Geneticists in China “don’t want to be guided by Western people.”

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, JULY 13, 2015

SCIENCE & TECHNOLOGY

A Sea-Cloaked Mystery With Trillions of Tiny Clues By WILLIAM J. BROAD

Habitats on land — rain forests, steppes, woodlands, deserts, alpine meadows, all well explored over the centuries — make up less than 1 percent of the planet’s biosphere. Why so little? The band of life is narrow. Fertile soil goes down only about a meter, and even the tallest trees stretch up only about 90 meters. Water, however, is a different story. It covers more than 70 percent of the earth’s surface and goes down kilometers. Scientists put the ocean’s share of the biosphere at more than 99 percent. Fishermen know its surface waters and explorers its depths. But in general, compared with land, the ocean is unfamiliar. Which helps explain why scientists have only recently come to realize that the bristlemouth, a fish of the middle depths that glows in the dark and can open its mouth extraordinarily wide, baring needlelike fangs, is the most numerous vertebrate on the earth. “They’re everywhere,” Bruce H. Robison, a senior marine biologist at the Monterey Bay Aquarium Research Institute in California, said of the bony little fish. “Everybody agrees. It’s the most abundant on the planet.” By human standards, the brute is tiny, smaller than a finger. But this strange fish makes up for its diminutive size with staggering numbers, as well as a behavioral trick or two. It starts life as a male and, in some cases, switches to a female. Scientists call it protandrous, a male-first hermaphrodite. John C. Avise, the author of “Hermaphroditism,” said the adult male bristlemouth tended to be smaller than the female and had a better developed sense of

William Beebe, left, was the first scientist to view bristlemouths in their habitat. He rode in a bathysphere designed by Otis Barton.

WILDLIFE CONSERVATION SOCIETY

MARCOS CHIN

smell, apparently to find mates in the darkness. “They occupy an environment that’s hard to access,” Dr. Avise said of the fish, so there is “precious little information” about their behavior. Though the portrait of the bristlemouth is incomplete, scientists know enough to assert that it far outstrips all other contenders for the title of most common vertebrate on the planet. Ichthyologists put the likely figure for bristlemouths at hundreds of trillions

— and perhaps quadrillions, or thousands of trillions. The bristlemouths are a rapacious family of fishes that include the wildly successful genus Cyclothone — Greek for “circular,” in apparent reference to the creature’s gaping mouth. They are also known as roundmouths. The genus has 13 species. The distinguishing features are subtle differences in the fins and luminous organs. All members wield bristlelike teeth. They are

2.5 to 7.5 centimeters in length, tan to black in color, and at times display ghostly translucence. The first hints of the fish’s ubiquity came during the voyage of the H.M.S. Challenger, a British ship that sailed the globe from 1872 to 1876 and helped lay the foundations of oceanography. It lowered nets at dozens of sites and hauled up the creatures from as deep as five kilometers. The first scientist to view the animals in their dark habitat was William Beebe. In the early 1930s, Mr. Beebe, a senior explorer of what is now the Wildlife Conservation Society, plunged into the depths off Bermuda in a spherical submersible, gazed through its porthole — and saw aliens. “Numberless little creatures” raced through his light beam, he wrote in his 1934 book, “Half Mile Down.” They turned out to be bristlemouths. A color plate in the book shows a group with jaws wide open while chasing a school of copepods, tiny crustaceans with long antennas. Textbooks from the 1970s to the 1990s said little about Cyclothone. Then came a new wave of

research, centering on trawls of the deep ocean with a new generation of nets. No matter how far the nets plunged, up came vast numbers of bristlemouths. Dr. Robison said bristlemouths have very small eyes that in the dim habitat seemed to play little or no role in finding prey. Instead, the fish apparently relies on sense organs that can detect movement and vibration in the surrounding water. And the rows of glowing dots on the bristlemouth’s abdomen? Dr. Robison said they appeared to be camouflage that helped the creature hide from predators by matching the surrounding light. It has taken roughly a century and a half, but science has finally come to know the bristlemouth. But if the tortuous route to identifying the dominant fish is any indication, it will take longer still to learn about the uncommon forms of life that roam the depths. “We keep seeing lots of different critters we haven’t seen before,” Dr. Robison said of voyages in the Monterey Canyon, a deep gorge in California’s coastal seabed. “The deeper you go, the stranger things get.”

Advancing Capabilities of Fiber Optics By JOHN MARKOFF

Researchers have announced an advance that could double the capacity of fiber-optic circuits, potentially opening the way for networks to carry more data over long distances while significantly reducing their cost. Writing in the journal Science in June, electrical engineers at the University of California, San Diego, proposed a way to extend the range that beams of laser light in fiber-optic glass wires can travel and, in theory, achieve that large improvement. One way to understand the challenge of sending data through fiber-optic circuits is to imagine a person shouting to someone else down a long corridor. As the listener moves farther away, the words become fainter and more difficult to discern as they echo off the walls. A similar challenge confronts the designers of networks that carry data. Beams of laser light packed densely in fiber-optic glass wires need to be both amplified and recreated at regular intervals to send them thousands of kilometers. The process of converting the

Sending stronger signals at a much lower cost. optical ones from light to electricity and then back again is a significant part of the cost of these networks. The process also limits how much data they can carry. In its report, the group described a way to “predistort” the data that is transmitted via laser beams so that it can be deciphered easily over great distances. This is done by creating, in effect, guardrails for the light beams with a device known as a frequency comb — using very precise and evenly spaced signals — to encode the information before it is transmitted. That has the effect of embedding a digital watermark in the original data, making it possible to transmit data accurately over much longer distances and dispense with the need to perform optical-to-electronic conversions

at relatively short intervals. The researchers said they had set a transmission record for a fiber-optic message, sending it more than 12,000 kilometers in a laboratory experiment without having to regenerate the signal. That experiment is not discussed in the just-published paper. The research, which has been supported in part by Google and Sumitomo Electric Industries, a maker of fiber-optic cables, is a step closer to the vision of an “all-optical network,” according to Nikola Alic, one of the authors of the paper. Such a network would be significantly less expensive and could carry more data. So far, the researchers have been able to increase the power of the lasers twentyfold to achieve transmissions over far greater distances, he said. Until now, increasing the power of the laser signal in current fiber-optic networks has been analogous to moving in quicksand — the more you increase the power, the greater the challenge of interference and distortion. Bart Stuck, a former Bell Laboratories scientist who conducted

UNIVERSITY OF CALIFORNIA, SAN DIEGO, PHOTONICS SYSTEMS GROUP

A frequency comb helps decipher data that is transmitted via laser beams over great distances, engineers found. research in signal processing, said of the new paper, “This is great engineering.” Similar ideas were used in an earlier era of communications, he noted. Although the concept was used in the world of analog voice communications, the U.C. San Diego researchers have pushed the ideas into the optical communications world. “Their contribution is doing this at gigabits per second,” Mr. Stuck said. But some optical scientists were skeptical about the prospects for the new approach. “This is very interesting research, but there will be challenges applying this approach in the real world,” said Alan Huang,

a former researcher at Bell. The growth of the Internet, driven largely by the exploding consumption of digital video, is continuing to expand at a significant rate. In May, Cisco reported that annual transmitted global Internet data would pass a threshold of one zettabyte, or the equivalent of 250 billion DVDs, by the end of 2016. By comparison, all of the information stored on the World Wide Web in 2013 was estimated to be four zettabytes. The amount transmitted annually — to be sent across networks, not just stored — is expected to reach two zettabytes a year by 2019.

MONDAY, JULY 13, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

T H E W AY W E E AT

Real Korean Flavor For a YouTube Table By JULIA MOSKIN

JENN ACKERMAN FOR THE NEW YORK TIMES

Sameh Wadi, the chef at Saffron in Minnesota, sharing a meal with family and friends.

Appetizing Meals to Break the Fast Dates with cream and chopped pistachios and, right, roast chicken with couscous, dates and buttered almonds.

By JULIA MOSKIN

When the chef Sameh Wadi was growing up — first in Kuwait, then in Jordan, and finally in Minnesota — one of the few constants in his life was his mother’s cooking, especially the datefilled ring cookies called ka’ak that she made by hand and stockpiled during Ramadan. Children do not fast during Ramadan, but adults like Mr. Wadi’s mother, Shahira, do not eat during daylight for the month. Traditionally, women spend much of their time cooking for the iftar, or fast-breaking meal, that is eaten every night after sunset. “No question, those are my favorite things in the world to eat,” Mr. Wadi said. “I never realized as a kid how cruel it was to steal them, because even though she was fasting, she would still have to make more.” During Ramadan, the farflung Muslim communities of the world are unified by one food: the date, one of the earliest cultivated crops and an ancient icon of the Middle East, where the thick-trunked date palm is a symbol of hospitality, rest and peace. In the hadith, a collection of sayings attributed to the Prophet Muhammad, it is recorded that he always broke the fast with dates and water, so many Muslims are careful to follow, whether the fruit is called balah (Arabic), khajoor (Urdu), hurmah (Turkish) or buah kurma (Indonesian). In modern communities, restaurants offer iftar specials and buffets, and all-night food markets pop up to feed the hungry throngs. Dates are always available, out of respect for tradition and because they provide a quick boost of energy for the eating to come. “An iftar without dates would feel very strange to all the Muslims I know,” said Yvonne Maffei, who writes a popular cooking and nutrition blog, My Halal Kitchen, from her home north of Chicago. “It would be like Thanksgiving without a turkey: The table doesn’t look right without it.”

NATHAN WEBER FOR THE NEW YORK TIMES; RIGHT, RIKKI SNYDER FOR THE NEW YORK TIMES

Ramadan began on June 17 this year. (Because the Islamic calendar is lunar, not solar, Ramadan takes place at different times during the Western year.) The two large meals of the night hours, the predawn suhoor and the sundown iftar, are opportunities for home cooks to come up with ever more alluring, filling and nourishing dishes. “It sounds strange that Ramadan is a time for even thinking more about food,” said Razia Parvez, a homemaker in New Jersey, who was born in Paki-

During Ramadan, the date unifies the world’s Muslims. stan. “But cooking helps me get through the fast, because I can smell everything and imagine the tastes that I will be serving my family later.” Muslims observing the fast try to eat extra dairy and protein at both meals to help stave off hunger the following day. Iftar invariably includes a bowl of dates, and sometimes more elaborate desserts, like pitted dates stuffed with nuts or labne (thick yogurt); ma’moul and ka’ak, round cookies filled with dates; and date paste rolled in-

to cylinders or balls and coated with coconut. The most elaborate desserts are saved for Eid al-Fitr, a great feast on the first night of the month that follows Ramadan, which this year falls on July 17. Shirin Farhat, an Iranian-American student in Los Angeles, said that her mother’s ranginak, a traditional Persian cake of dates cooked with cinnamon and cardamom and layered with walnuts, is the dish she looks forward to all year long. “I just take a bite of a date to break the fast,” she said. “I save my appetite for ranginak.” There are three basic types of dates: soft (including barhi, halawi, khadrawi and medjool), semi-dry (like the deglet noor and zahidi), and dry (like thoori), but thousands of variations are available around the world. Their flavors range from rich molasses to light butterscotch to honey, sometimes accented with the headiness of cognac, the succulence of prunes and the burnt-sugar edge of caramel. During Ramadan, many Muslim-Americans make a point of seeking out dates from their ancestors’ home countries. Purple-black ajwa dates from Medina in Saudi Arabia are considered the finest of all. Mr. Wadi got his hands on some recently. “I just sat down and ate them all,” he said. “Cooking an ajwa would be like deep-frying a black truffle.”

During the years that she was addicted to online gaming, life for Emily Kim began when she got home from work at 6 p.m. “I would shower quick, and eat something, no matter what, so I could start playing my game,” said Ms. Kim, a.k.a. the YouTube Korean-cooking star Maangchi. “And I wouldn’t stop till 3 a.m.” In 2003, divorced and with her two grown children out of the house, Ms. Kim ventured into the online role-playing battle game City of Heroes and couldn’t pull herself away. Maangchi, pronounced MAHNG-chee and meaning “hammer” in Korean, was the name of her online avatar, who specialized in destruction, wielding a huge scimitar and wearing a tiny miniskirt. In 2007, her children persuaded her to try a more nourishing form of Internet expression: cooking videos. “I had no idea if anyone would watch me,” she said, “but the Korean recipes I saw in English were full of mistakes, and I wanted to show the real way we do things.” Now, Ms. Kim has more than 650,000 YouTube subscribers. At age 58, she has just published a cookbook, “Maangchi’s Real Korean Cooking,” one of the few comprehensive books on Korean cooking written for Americans, but without major adjustments to make the food more accessible. From watching her videos, it is hard to envision Ms. Kim as a reclusive gamer. In extravagant eye makeup and bright pink lipstick, she cooks huge batches of bibimbap, bulgogi and KFC, sweet-sticky-spicy Korean fried chicken. She demonstrates the endless variations of kimchi and schools her viewers in the pronunciation of dishes like soegogi-muguk (SAY-go-gee mooGUHK), beef and radish soup. Although she presents herself as lighthearted, Ms. Kim is first and foremost a teacher, and a strict one at that. “I have to do everything correctly,” she said. “Otherwise I will hear about it from the Koreans.” This is a phrase she often

ONLINE: AUTHENTIC FOOD

Emily Kim demonstrates how to make Korean barbecue: nytimes.com Search Maangchi

repeated to the editors of her cookbook when they quailed at including recipes for fermented sardines, jellyfish salad and kelp stock. This, Ms. Kim believes, is the problem with virtually every Korean restaurant in the United States: The food is sweeter, saltier, less spicy, less fishy and less rich with umami than it should be. Ms. Kim was raised in Yeosu, near the southern tip of the Korean Peninsula, where her family was in the seafood business. She learned from her mother, aunts and grandmothers how to not only cook but also pickle, smoke, dry and ferment. Ms. Kim first came to the United States in 1992 with her husband, who emigrated to take a teaching job in Missouri. In the Midwest, she would lead fellow expatriates on expeditions in search of Japanese or Chinese restaurants. Now, she lives and shoots her videos in a compact apartment perched above Times Square. She shares the apartment with David Seguin, a web developer at The New York Times, whom she married in 2009. There, she practices the slow and ancient art of fermenting, making gochujang (chile paste) and doenjang (soybean paste), an umami-rich flavor element pervasive in Korean cooking. The recipe calls for an electric blanket, about four liters of salt and hay; it takes almost a year to complete. Traditionally, even a basic family dinner consists of eight to 10 different dishes: soup or stew, rice, kimchi, often a stirfry of protein and vegetables, and at least three side dishes like spicy cucumber salad or steamed eggplant. “There is nothing Koreans love more than sitting around a table where every inch is covered with food,” Ms. Kim said. “And if there is a grill in the middle of it, that is even better.”

MORGAN LONE YEAGER FOR THE NEW YORK TIMES

Emily Kim has more than 650,000 YouTube fans.

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, JULY 13, 2015

ARTS & DESIGN

From Work Fields To Poet Laureate The poet laureate of the United States tends to be busy, Howard Nemerov once said, because he or she spends so much time explaining what the job entails. With Juan Felipe Herrera as America’s new laureate, you ESSAY wish the job still entailed writing ceremonial verse, commissioned in bygone days for events like the openings of bridges or the deaths of fine old soldiers. Mr. Herrera is a poet you’d like to hear declaim from the National Mall in Washington. In part this is because he is an unusual laureate, the son of California migrant workers, a man who understands people who are drained from the day’s labors. Mostly, though, you’d like to hear him at the National Mall because his work is built

DWIGHT GARNER

Verse that speaks to the struggles of the workers. to be spoken aloud. His best poems are polyrhythmic and streaked with wit. Witness Mr. Herrera’s long poem, “187 Reasons Mexicanos Can’t Cross the Border (Remix),” for example. In it, he flies a freak flag, in a manner that resembles a blend of two 1960s activists, Oscar Zeta Acosta and Allen Ginsberg, on behalf of his determined politics. Among those reasons Mexicanos can’t cross: “Because it’s better to be rootless, unconscious & rapeable”; “Because the pesticides on our skin are still glowing”; “Because pan dulce feels sexual, especially conchas & the elotes”; “Because we’ll build a sweat lodge in front of Bank of America”; “Because we’re locked into Magical Realism”; and “Because Freddy Fender wasn’t Baldemar Huerta’s real name.” Mr. Herrera, 66, who came of

age as a poet amid the Chicano cultural movement in Southern California in the late 1960s and early ’70s, remains close to the soil in many of his most vivid poems. “Blood Gang Call,” from 1999, includes these lines: Calling all orange & lemon carriers, come down the ladder to this hole Calling all chile pepper sack humpers, you, yes, you the ones with a crucifix The poem ends: Calling all tomato pickers, the old ones, wearing frayed radiator masks. Mr. Herrera’s best work is collected in two volumes, “Half of the World in Light: New and Selected Poems” and “187 Reasons Mexicanos Can’t Cross the Border: Undocuments 1971-2007.” Mr. Herrera’s charms are impossible to deny. When he is on, he is really in touch with his audience and in touch with democratic gifts. His senses are open toward the world and his bearing on the page is noble and entrancingly weird. In a 2004 poem, “Don’t Worry, Baby,” he seems to have occult gifts, writing, “I worry about Bill Cosby’s karma.” Here are some other things, according to this poem, that keep him up at night: “I worry about monolingual emergency signs”; “I worry about people who use the word folk”; “I worry about Stephen King’s supply of vitamin D”; “I worry about kindergarten teachers whose clothes match”; “I worry about oyster bars going straight”; and, finally, “I worry about people who say, ‘Don’t worry, baby.’ ” That poem appeared in the collection “Notebooks of a Chile Verde Smuggler,” reminding you that he has a gift for titles. Here’s a welcome to Mr. Herrera. We may come to lean on him. As he puts it in one of his poems, I want to write of love in the face of disaster.

GARY KAZANJIAN FOR THE NEW YORK TIMES

Juan Felipe Herrera, 66, is the son of migrant workers in California. He writes verse meant to be spoken aloud.

GETTY IMAGES

Nina Simone, pictured in about 1968, remains relevant to music and political activism.

Nina Simone at a Posthumous Peak By SALAMISHAH TILLET

The feminist writer Germaine Greer once declared: “Every generation has to discover Nina Simone. She is evidence that female genius is real.” This year, Nina Simone is striking posthumous gold as the inspiration for three films and a star-studded tribute album, and she was name-dropped in John Legend’s Oscar acceptance speech for best song. This flurry comes after a decade-long resurgence: two biographies, a poetry collection, several plays, and the sampling of her signature haunting contralto by hip-hop performers including Jay Z, the Roots and, most relentlessly, Kanye West. Though it was hip-hop, Simone once said, that “ruined music, as far as I am concerned.” Fifty years after her prominence, Nina Simone is now reaching her peak. The documentary “What Happened, Miss Simone?,” directed by Liz Garbus (“The Farm: Angola, USA”) and now on Netflix, opens by exploring Simone’s unorthodox blend of dusky, deep voice, classical music, gospel and jazz piano techniques, and civil rights and black-power musical activism. Not only did she compose the movement staple “Mississippi Goddam,” but she broadened the parameters of the great American pop artist. “How can you be an artist and not reflect the times?” Simone asks in the film. And in “What Happened,” Simone emerges as a singer whose unflinching pursuit of musical and political freedom establishes her appeal today. While Simone’s lyrical indictment of racial segregation connects her to the contemporary moment, those closest to her felt

more comfortable telling her story after her death in 2003. As Ms. Garbus said, “The answer for her return is also because of the estate, and people being ready to relinquish some control of her story.” Simone’s daughter, the singer and actress Lisa Simone Kelly, shared diaries, letters, and audio and video footage with Ms. Garbus. Over the last decade, a steady stream of reissued albums and previously unheard interviews and songs, as well as unseen concert footage, have flooded the market. But there has been a dizzying array of lawsuits over the rights to her master recordings in the last 25 years. The most high-profile con-

A singer’s pursuit of freedoms adds to her appeal today. troversy about Simone’s legacy, however, involves Cynthia Mort’s biopic, “Nina,” due later this year. Starring Zoe Saldana in the title role, the film was beleaguered by public criticism over the casting, an antagonism further fueled by leaked photos of Ms. Saldana with darkened skin and a nose prosthetic. Born Eunice Waymon in 1933, Simone grew up in segregated North Carolina. At 3, she was playing gospel hymns for the church choir on piano; by 8, her mother’s white employer offered to pay for her classical music lessons. Simone trained at Juilliard in New York for a year, then was denied admission to the Curtis

Institute of Music in Philadelphia. She renamed herself Nina Simone and performed in Atlantic City nightclubs, adopting jazz standards in her repertoire. She would have her only Top 40 hit with “I Loves You, Porgy” in 1959. To further her music career, Simone moved back to New York, where she befriended the activist-writers Lorraine Hansberry, James Baldwin, Langston Hughes and Malcolm X. Simone composed “Mississippi Goddam” in 1964 in response to the assassination of the civil rights leader Medgar Evers in Mississippi and the murder of four African-American girls in a church bombing in Birmingham, Alabama, a year earlier. Though she was bisexual, her longest romance was her 11-year turbulent marriage to Andy Stroud, a former police officer. She suffered from “mood swings” that 20 years later were diagnosed as a bipolar disorder. In the interim, Simone left her marriage and country, becoming an expatriate in Liberia, Switzerland, then France, where she died. Simone’s androgynous voice, genre-breaking musicianship and political consciousness are a huge draw for today’s gay, lesbian, black and female artists who want to be taken seriously for their talent, their activism or both. “Nina has never stopped being relevant because her activism was so right on, unique, strong, said with such passion and directness,” Ms. Garbus said. “But why has she come back now?” she asked, answering her own question by pointing to how little has changed, citing the protests over the police killings of unarmed African-Americans.

Business | Money Line

NEW TELEGRAPH MONDAY, JULY 13, 2015

Bail-out funds worsen naira’s woes

INSTABILITY Naira fell to N240/$ last Friday

ailing naira. As at last Friday, the naira had fallen to N240 against the dollar on the parallel market, a development traders attributed to government's liquidity injection. The local currency had traded at N236 to the greenback the previous day. President, Association of Bureau De Change Operators of Nigeria (ABCON),

Tony Chukwunyem

he release of part of the N400 billion funds approved by the Federal Government to clear the backlog of salaries in states and local governments has further worsened the fortunes of the

Aminu Gwadabe, said that the demand for dollars surged last Friday as individuals rushed to convert their naira to dollars. Reuters quoted him as saying: "There is a lot of demand with the recent injection of cash by government. Part of the funds is being converted to dollars.” Also, another BDC

operator, who asked not to be named, said: “The scarcity is really serious; there is no dollar anywhere. So, people who have the money are buying available dollars with a view to later sell at a higher rate.” According to the details of the bail-out fund unveiled by the Presidency last Tuesday, the

Sterling Bank loans N50m to tractors’ owners

terling Bank Plc has financed the purchase of tractors for members of the Tractors Owners and Hiring Facilities Association of Nigeria (TOHFAN). The cost of the tractors is put at N50 million. The financial assistance, according to a statement from the lender, is geared towards sustaining its stronghold in the agriculture finance space, which earned it two awards - the Best Bank in Commercial Agriculture Credit Scheme (CACS), and “Agric Bank of the Year 2014 in Nigeria” - in the last one year. Sterling Bank finances the purchase/acquisition of tractors from reputable tractor manufacturers such as Massey Ferguson, Mahindra, New Hol-

land, John Deere and Tak tractors, which will also provide basic training on utilisation and offer after sales maintenance services. The tractors, which have been distributed to members of the association in the first disbursement, would help in the adoption of mechanised agriculture, leading to additional hectare coverage, higher yields and enhance food security in the country. The lender noted that its involvement in the agricultural sector was based on the need to reposition the sector as the main stay of the economy especially with the dwindling revenue from oil. It explained: “Sterling Bank Plc has continually restated its commitment

to the strategic growth of the agricultural sector by providing adequate funding in alignment with the on-going reforms in the sector aimed at repositioning it as an attractive business proposition, an input provider for the manufacturing sector and a key foreign exchange earner. “The best bank in Agric Award was conferred on the bank in recognition of its critical role in the dispensing of financial services to actors in the Nigerian agricultural value chain. This we have demonstrated again with the financing of the tractors, which will add value to the sector.” The National Treasurer of the association, Abdullahi Lawal, who also confirmed the devel-

opment, commended the bank for supporting the association and said that it would go a long way in improving the output of the beneficiaries. His words: “We received a facility of N50 million from Sterling Bank to finance the purchase of 14 tractors, which we have distributed to beneficiaries. The facility would be repaid within the next three years. The beneficiaries would be repaying specific amount of money monthly based on the brand of tractor obtained.” Lawal added that since the Association obtained the loan directly, beneficiary members were not tasked to provide collateral as the association guaranteed all its members.

Economic Indicators As at M2* CPS* INF MPR 91-day NTB Bonny Light Ext Res**

N19,142,526.05m N18,579,219.49m 9 13 10.77 US$60.42 US$29,157,103,039

Mar, 2015 Mar, 2015 May, 2015 4/6/2015 Mar 2015 10/6/2015 2/7/2015

TTM

Price

1.10 1.80 3.97 4.60 6.55 8.68 15.04

FGN Bonds 98.72 100.70 103.05 101.90 105.79 96.31 68.00

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 13.7500 14.1487 16.1366 17.0163

Bid Yield

14.31 14.60 14.95 14.94 14.97 14.96 15.56

Change (%) 8.42 ▲ 1.08 ▲ 1.04 ▲ 0.85 ▲

Change (%) -0.09▼ -0.12▼ -0.07▼ -0.11▼ -0.06▼ -0.04▼ 0.00 ↔

Price 98.87 100.85 103.35 102.20 106.09 96.61 68.30

Tenor (Months)

Offer Yield 14.16 14.51 14.85 14.85 14.90 14.90 15.49

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 10.1102 12.7013 13.7789 14.1221 14.8389 15.1458

Spot($/N)

Offer 197.50

Change (%) -0.09▼ -0.12▼ -0.07▼ -0.11▼ -0.06▼ -0.04▼ 0.00 ↔ Change (%) 2.14 ▲ 1.23 ▲ 0.34 ▲ 0.60 ▲ -0.02 ▼ 0.28▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 13.32 13.80 0.69 ▲ Open-Buy-Back (OBB) 10.96 15-Oct-15 13.57 14.07 0.69 ▲ 12.99 13.88 0.48 ▲ Overnight (O/N) 11.50 7-Jan-16 13.24 14.17 0.48 ▲ 12.60 14.20 0.10 ▲ 2-Jun-16 12.85 14.52 0.10 ▲ Bid 197.40

Change (%) -0.02 ▼

NIFEX

Spot($/N)

Bid 198.9500

Offer 199.0500

Change (%) 5.71 ▲ 5.42 ▲

Change (%) 0.00 ↔

CBN Clearing Rates of June 26, 2015 Spot($/N)

195.95

196.95

$2.1 billion dividend paid to the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG) was shared among the states and the local governments; the Central Bank of Nigeria (CBN) was mandated to establish a special intervention fund that will offer financing to states, ranging from N250 billion to N300 billion and the Debt Management Office (DMO) was urged to design a debt relief programme, which will help states restructure their commercial

loans currently put at over N660 billion, and extend the life span of such loans while reducing their debtservicing expenditures. Before the liquidity injection, the naira had been falling on the parallel market due to the CBN’s policy, which tightened access to dollars on the official interbank market. Analysts said that the measure risked diverting demand to the unofficial black market, further worsening investor perceptions about the regulator's forex measures.

Access Bank floats multichannel payment solution

ccess Bank Plc said it had introduced a new multi-banking payment solution known as PayWith Capture. A statement issued by the lender, said: “PayWithCapture is a mobile payment solution that permits customers to make payments by scanning a merchant’s pre-generated QR-Code using the camera of their mobile device or via a one-step BeaconNFC System. “It can be linked with different payment cards (Any Bank’s MasterCard/ VISA, Bank Account, Mobile Wallet) and affords customers the opportunity of selecting which payment instrument he/ she chooses to use.” Commenting on this innovation by Access Bank, Group Managing Director, Mr. Herbert Wigwe, said: “Forging growth in mobile payment solutions requires inclusiveness. For the potential of mobile payment technolo-

gies to truly explode, it is important that we begin to see it as more than a bank initiative, but more of a consumer initiative and that is where inclusiveness comes in. We are committed to providing solutions that meet people in their niche and we have been working closely with technology partners to achieve this. Nigeria is an exceptional country with unique consumer needs.” He said that Access Bank has entered into a partnership with merchants in all market categories to offer unique discounts for users of the PayWithCapture application. He explained that Access Bank introduced PayWithCapture because it is a solution that allows for a combination of payment solutions to accelerate financial inclusion in Nigeria. This, he emphasised, allows the Bank to meet every consumer in their niche.

Lender rewards customers

Source:CBN

Description 13.05 16-AUG-2016 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 10.00 23-JUL-2030

0.00↔ Source: FMDQ

tanbic IBTC Bank has rewarded its customers who were among winners of the Western Union 20th anniversary promotion. According to a statement by the lender, the promo, which ran between April 20 and May 15, 2015, produced 200 winners from 18 Western Union agent banks in Nigeria. Executive Director, Personal and Business Banking, Stanbic IBTC Bank, Mr. Obinnia Abajue, who was represented by Head, Franchise Collections, Solomon Olufemi, said that the promo is the bank’s way of showing appreciation to customers who redeemed their Western Union money transfers through Stanbic IBTC Bank. “We congratulate win-

ners of the promotion. It fits into our goal of enhancing convenience banking through a fast and convenient means of sending and receiving money, and further demonstrates our commitment to continuously deliver innovative products and solutions, part of which includes enhancing the robustness of our mobile banking and mobile payments systems,” Abajue stated. Each of the five customers according to a statement, received a gas cooker, one microwave, one rice cooker and one blender at the prize presentation ceremony, which held in Lagos recently. The lucky winners were Mr. Yinka Fagbohun, Mrs. Maureen Okonkwo, Alabi Abiona, Abdoulaziz Allawo and Eghosa Ewere.

Business | News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Passengers’ traffic falls by 10.8% in 2015 Q1 DETERRENT The portion of domestic and international aircraft traffic has remained relatively constant Wole Shadare

he Nigeria airports and airstrips recorded 10.88 per cent decline in passengers’ traffic in the first quarter of 2015 with 3,710,618 movements when compared to the last quarter of 2014. Just like in the past years, the Murtala Mohammed Airport (MMA) Lagos, recorded the highest number of passengers in the local operations, while the Murtala Mohammed International Airport (MMIA) Lagos, led others in the movement of international passengers arriving and departing the country. In the last quarter of 2014, a total of 4,163,762 passengers travelled through the country’s airports, which were up by 227,744 or 5.59 per cent from quarter three of the same year. Information from the National Bureau of Statistics (NBS) indicated that year-on-year, the first quarter of 2015 value was still 294,011 passengers or 8.61 per cent greater than the first quarter of 2014, while quarter four of 2014 was 594,317 passengers or 16.65 per cent greater than the number recorded in the closing quarter of 2013. The bureau stated that of the passengers that travelled in the first quarter of 2015, a total of 2,261,648 or 60.95 per cent travelled domestically, while 71.32 per cent of travel was domestic in the preceding quarter. The corresponding quarters recorded 68.84 per cent and 65.90 per cent domestic travel in quarter one of 2015 and quarter four of 2014 respectively. The bureau stated that declines in total passengers in the first quarter was driven by lower numbers of domestic travelling passengers, which it put at 708,092 fewer passengers or 23.84 per cent below quarter four of 2014 values. However, international passengers increased by 254,948 passengers or 21.35 per cent. Similarly, the quarterly rise observed in quarter four of 2014 was also driven solely by higher domestic passenger numbers, which in-

creased by 320,544 or 12.10 per cent relative to the preceding quarter, while international passengers declined by 92,800 or 7.21 per cent. In the domestic scene, in the fourth quarter of 2014, the airport with the greatest frequency of domestic passenger traffic was MMA, which had 1,088,141 passengers or 36.64 per cent of the total traffic. The bureau described the period as the peak of the airport, having

increased by 74,225 passengers or 7.32 per cent from the last quarter. The opening quarter of 2015, however, saw a sharp decline in MMA’s domestic passenger traffic, with 191,617 or 17.61 per cent fewer passengers than the preceding quarter. Nonetheless, this decline was lower, relative to the other airports, as MMA held a three per cent point greater share of the total this quarter, at 39.64 per cent.

The statistics added that year-on-year, quarter one of 2015 recorded a marginally lower volume of domestic passenger traffic, with 2,372 or 0.26 per cent fewer passengers. Abuja had the second highest number of passengers travelling domestically. Similar to Lagos, the series peaked in quarter four of 2014, at 940,872 passengers, representing 31.68 per cent of the total. The bureau added:

“However, quarter one of 2015 saw an almost equal decline of 176,503 passengers or 18.76 per cent. Yet this was still a rise year-on-year, of 63,120 passengers or nine per cent relative to the 701,249 passengers that travelled in quarter one of 2014. Abuja’s share of total domestic passenger traffic increased to 33.80 per cent in the opening quarter. “Port Harcourt continued to hold the third highest volume of passenger

traffic, with 329,499 passengers in quarter of 2014, declining by 64,406 passengers or 19.55 per cent in quarter one of 2015 to 265,093 passengers. Its share of the total however, increased only marginally, from 11.10 per cent in quarter four of 2014 to 11.72 per cent in quarter one of 2015. Relative to the corresponding quarter of 2014, the opening quarter of 2015 still recorded passenger traffic lower by 9,093 persons or 3.32 per cent.”

Business |Stock Watch

NEW TELEGRAPH MONDAY, JULY 13, 2015

TORPOR Since the beginning of the year, the insurer’s share price has been flat at 50 kobo

Sovereign Trust: Rising operating costs shrink profits

Chris Ugwu

he National Insurance Commission (NAICOM), the apex body that regulates insurance businesses in Nigeria, introduced the ‘No Premium No Cover’ policy to deepen insurance penetration. But despite the rules enforced by regulators to improve premium of insurers and bottom line, most insurance companies have continued record dismal profits. The sub-sector has found itself juggling a variety of challenges, as they strive to compete, improve profitability and growth. And these challenges, which also include negative perception, have continued to weigh down on bottom line of most of the companies in the sub-sector. Contrary to the expectations that the Nigerian insurance industry would be the next growth sector, the performance of the industry, despite considerable improvement, remains far below optimal. As a developing country, the challenges for Nigerian insurance companies also include enforceability of insurance regulations. It is believed by experts that the growth target expected for the industry by the regulators would only be achieved through the enforcement of compulsory insurance. Expectedly, the success of Nigeria’s insurance industry will depend largely on the resolution of the identified challenges, especially the enforcement of compulsory insurance. Other key success factors are prompt claims settlement, competent management and corporate governance, innovative products, human capital and technology Since the crash of the nation’s capital market in 2008, negative perception has trailed the subsector, which was compounded by inability of about 85 per cent of insurance firms in the industry to pay dividend to shareholders for many years. Market watchers linked this development to crisis of confidence in the sector. Sovereign Trust Insurance Plc, like any other insurance firm, got its fair share from the dwindling fortunes of the sub-sector, as the movement of share price has remained at the value it was quoted on the Nigerian Stock Exchange (NSE). Since the beginning of the year, the insurer’s share price has been flat at 50 kobo. Investigation revealed that the last time its shares were higher was in 2013 when it hit 55 kobo. The insurance firm’s price trend, just like others, reflects the spike in values observed in 2007 into the early part of 2008, as post-consolidation and speculative trades pushed prices upward. However, the extensive economic crisis has seen the company along with its peers badly hit.

Onaolapo

Despite of the impressive appearance made by the company in the second and third quarters of 2014, the firm, just like in 2013, ended the financial year 2014 with bad numbers. Operating and underwriting expenses absorbed most of its revenue, leaving the company with low profit margins. However, expectations that the company will sustain the profitability it recorded in the second and third quarters of the year was a mirage following poor outing that led to a report of 68.3 per cent decline in profits for the financial year ended December 31, 2014. The share, which closed at 50 kobo per share on August 31, 2014, remained flat at a nominal value. At the close of business last Friday, the company’s share price remained flat at 50 kobo year-to-date. Financials For the first three months of 2014, Sovereign Trust Insurance Plc, taking a cue from 2013 financial year loss, posted a drop in net earnings. Similarly, profit before tax for the first quarter of 2014, declined by 92.3 per cent to N160.46 million in Q1 2014 from N308.63 million as at Q1 2013. Profit after tax also fell by 84.6 per cent to N140.04 million as against N259.25 million as at Q1 2013. The insurer’s gross premium written, however, grew by 21 per cent to N2.93 billion from N2.31 billion the same period of the corresponding year (Q1) 2013. Its underwriting capacity also improved as net underwriting income rose by 14.8 per cent

Share price movement of Sovereign Trust 2014 Aug 31

50k

Sept 30

50k

Oct 31

50k

Nov 30

50k

Dec 31

50k

2015 Jan 31

50k

Feb 28

50k

Mar 31

50k

Apr 30

50k

May 30

50k

June 30

50k

July 3

50k

Since the crash of the nation’s capital market in 2008, negative perception has trailed the subsector

to N1.89 billion compared with N1.61 billion as at Q1 2013, while gross premium income rose by 24.4 per cent to N2.57 billion in the review period. Net premium earned increased by 19.9 per cent to N1.70 billion in Q1 2014 compared with N1.36 billion as at Q1 2013, while reinsurance expenses rose by 33.1 per cent to N872.25 million in the period under review. Claims and underwriting expenses were up by 54.48 per cent to N1.30 billion in Q1 2014 as against N845.54 million as at Q1 2013. The insurer, in the second quarter ended June 30, 2014, returned with good numbers as Profit After Tax rose by 66.1 per cent to N553. 877 million. This is against the N333. 365 million it achieved in the same period of 2013. The gross premiums written for the second quarter stood at N4. 802 billion as against N4.253 billion recorded in the same quarter of 2013. For the nine months through September 2014, Sovereign Trust’s net premium earned increased by 15.80 per cent to N3.85 billion from N3.32 billion the same period of the corresponding year (Q3) 2013. Its underwriting profits were up by 33.5 per cent to N1.46 billion in Q3 2014, from N1.09 billion in the same period of the corresponding year 2013. Claims and underwriting expenses increased by 3.27 per cent to N4.73 billion, while management expenses reduced by 1.69 per cent to N1.16 billion in the review period. The insurer’s ability to reduce cost to a single digit level culminated in a 60.0 per cent

rise in profit before tax to N672.20 million, compared with N420.60 million during the same period of the corresponding year (Q3) 2013. Similarly, profit after tax jumped by 66.80 per cent to N613.09 million as against N420.60 billion in the preceding year. Total assets were up by 40.50 per cent to N8.77 billion compared with N6.24 billion last year, while total equity in the review period increased by 16.80 per cent to N4.09 billion. However, the company ended the financial year 2014 with bad numbers, recording a profit of N294.49 million in 2014 compared with N929.92 million in the previous year of 2013, indicating a loss of 68.3 per cent. Profit before tax also shrank by 62 per cent to N326.02 million from N857.850 million. Analysts believed that Sovereign Trust’s flagging growth at the bottom line was due to its rising operating and underwriting expenses that undermined profits, leaving the insurance firm with low margins. Total operating and underwriting expenses was up by 22.41 per cent to N4.86 billion, compared with N3.97 billion in 2013. Sovereign Trust recorded a 16.0 per cent reduction in gross premium written to N7.286 billion in the period under review from N8.673 billion the same period in 2013. Gross premium income rose by a mere 2.90 per cent to N7.656 billion from N7.437 billion, while net premium earned firmed up by 6.90 per cent to N4.606 billion from N4.309 billion in 2013. Outlook The Managing Director of the company, Mr. Wale Onaolapo, had said that more than ever before, Sovereign Trust Insurance was poised to take the insurance business to a greater height as it gravitates to the next phase of its growth agenda. He also said that management of the company has set a growth, which is aimed at positioning the underwriting firm as one of the top players in the insurance industry, particularly in the oil and gas sector where it has developed very unique expertise and professionalism. He stressed that the company is committed to creating exceptional value to all its shareholders. Conclusion Despite having faced several challenges recently, market watchers believe that with the enforcement of ‘No Premium No Cover’, better corporate governance structures and tighter supervisory oversight, the insurance sector will experience positive times if the industry steps up introduction of innovative products, strategic business models and improved service delivery.

Insurance

MONDAY, JULY 13, 2015 NEW TELEGRAPH

NAICOM: Who succeeds Fola Daniel? TASK

Insurance Corporation from March 1993 to January 2000 as well as being on the Board of many successful companies. He was for two consecutive terms President and Chairman of Council of West Africa Insurance Companies.

A lot still needs to be done to sustain the positive steps already taken from the past

George Onekhena Like Kari, Onekhena also parades a record of an insurance czar capable of steering the ship of the industry. Prior to his appointment in November 2009 as Deputy Commissioner for Insurance, Onekhena, who is the Managing Partner in the firm of GeorgeAndrews + Partners, Accountants and Consultants has vast experience spanning over 33 years post-graduation in General Management, Finance, Corporate Governance, Marketing, Life Insurance, Non-Life Claims Management and Information Technology Application. He joined the services of The Lion of Africa Insurance Company Limited in 1985 as a Senior Accountant and rose to the position of Finance Director in 1997 – a position he held until 2004 when he voluntarily retired. Between November 2007 and May 2008, he was the Director of Finance in the interim Management Board set up to oversee NICON Insurance Plc. during the period of regulatory supervision by NAICOM.

Sunday Ojeme

y the end of July 2015, Fola Daniel, the current Commissioner for Insurance and Chief Executive Officer, National Insurance Commission (NAICOM), would have served out his eight-year tenure with grace and panache. The begining Having ascended the leadership of a ragtag regulatory agency in 2007, Daniel would be happy to depart the place with rapturous zeal considering his efforts at stabilising the place, improving the fortunes of the insurance industry to some extent as well as his ability to shove off any form of smear campaign. Given the fact that more tasks still lie ahead, the question of who succeeds him becomes inevitable. Insurance being a very technical and experience demanding entity, the thought of bringing in a rookie outside the industry is expectedly very remote and possibly unthinkable. Fortunately enough, the regulatory agency and the industry as a whole, have an array of professionals, who are eminently qualified to run the affairs of the commission. However, beyond being a professional with the requisite technical knowhow, the patience and near monk meditative flair to absorb shocks from over 50 insurance companies and over 100 allied firms overseen by profit-centric managers, who are prepared to defy rules if allowed, are also predominantly necessary. So far, some industry watchers have narrowed the succession bid to the regulatory agency’s management team, who played prominent roles in assisting Daniel. This is irrespective of the fact that the current regulator’s emergence headlined the fact that the agency’s succession plan goes beyond the commission to beaming searchlight farther into the industry to core underwriters. Daniel, who was catapulted into NAICOM as the commissioner when it was riddled with crisis of confidence, was the Managing Director/Chief Executive Officer of the defunct Globe Reinsurance, an indigenous reinsurance firm that eventually merged with Nigeria Reinsurance Plc, when fortune smiled on him. Although the appointment took stakeholders and observers by surprise, Daniel, after eight years, has proven critics wrong and made whoever recommended him proud through his managerial acumen and acknowledged success story. Succession plan Going by the traditional succession plan, NAICOM is obviously not devoid of capable hands to take over from a regulator, who inherently believes in a takeover arrangement without intrigues and complications. Good enough, NAICOM has in its team professionals who have learnt the ropes over the years and capable of handling things especially

Daniel

Kari

Onekhena

Agboola

alongside the dream and aspirations of the current administration. Although no one can pick out a favourite among the lot including the professionals outside the commission, the odds, however, appear to be tilting towards the side of some of the top management staff, who are well grounded in insurance at the levels of training and administration. Prominent in this regard are the Deputy Commissioner (Technical), Muhammad Kari; Deputy Commissioner (Finance and Administration), George Onekhena; Director (Inspectorate), Barineka Thompson, and Director (Authorisation and Policy), Agboola Pius.

He also served as Managing Director and Chief Executive Officer of Nigeria Reinsurance Corporation from January 1992 to March 1993; Managing Director and Chief Executive Officer of NICON

Mohammed Kari According a brief profile, Kari had a Diploma in Insurance and served as Chief Executive Officer and Managing Director of UnityKapital Assurance Plc. He started his working career with Royal Exchange Assurance Plc in 1979, worked in Yankari Insurance Company Limited as Assistant General Manager (Technical) from 1984 to 1989 and later joined Niger Insurance Plc in 1989 as Executive Director Technical for almost three years.

The thought of bringing in a rookie outside the industry is expectedly very remote and possibly unthinkable

Barineka Thompson Thompson has over 20 years postqualification and cognate experience in Insurance, Finance and Strategy Management. He holds a Master’s Degree in Business Administration and a postgraduate Diploma in Business Administration. He was the Group Head, Finance and Chief Finance Officer of Linkage Assurance Plc before joining National Insurance Commission. He served as Acting General Manager/Chief Executive of NICON Hotels Limited, (a fully owned subsidiary of NICON Insurance Corporation). He has also served as a Senior Manager/Head of Investment Department in NICON Insurance Corporation, Abuja after heading many other finance departments including; Credit Control, Final Accounts and NICON Risk Management & Survey Company Limited. Agboola Pius Agboola holds a B.SC and MBA in Business Administration with specialisation in Actuarial Science. He is an Associate of the Chartered Insurance Institute of Nigeria (AIIN) and the Institute of Chartered Accountant of Nigeria (ICAN) He has over 24 years working experience in Management position and 17 years experience in the insurance industry. He joined NICON Insurance Plc in 1996 where he held several senior Management position before being appointed in 2008 as the Pioneer Managing Director and Chief Executive Officer of NICON Insurance Segurou STP, Sao-Tome & Principe. Conclusion With more task ahead to ensure higher penetration and a sustained sectorial development, it is expedient not to subject the appointment of the next commissioner to any form of experimentation as any of those already in line are more than qualified to drive the process.

Business | Insurance

NEW TELEGRAPH MONDAY, JULY 13, 2015

DEFAULT South East states yet to fully key into the new pension scheme

Sunday Ojeme

he National Pension Commission (PenCom) has restated the need for state government to key into the new pension scheme by registering their workers under the Contributory Pension Scheme (CPS) This stemmed from the recent developments in some states where governors owed workers backlog of salaries. The Director-General, PenCom, Mrs. Chinelo Ahinu-Amazu, said this during a sensitisation conference in the Enugu. She lamented that since the inception of the scheme, no state in the South East had fully keyed into it. While appealing to the state and local governments to embrace the scheme, she said the commission had established offices in the six geo-political zones to assist states that are yet to register their workers with the implementation of the scheme. This, she said, adding that this would avail their employees of the numerous benefits of the Scheme while avoiding huge future pension liabilities. She said, “Recent development with regards to inadequate finances affecting most states of the federation is a pointer to the urgent need for states to adopt the CPS. In our

PenCom seeks cooperation with states, councils quest to assist the states in guided implementation, PenCom has established functional offices in the six geo-political zones including Awka for the South-East Zone. These offices have been equipped to provide the required technical assistance to states and local governments in their efforts to adopt and implement the CPS.” Anohu-Amazu noted that prior to the enactment of the PRA 2014, several states in the federation had adopted the

CPS and were at various stages of implementation, stressing that the PRA 2014 had enhanced states and local government participation in the CPS by expressly prescribing the coverage of their employees in addition to the federal public service and the private sector. She recalled that the PRA 2004 was enacted 10 years ago to govern the Nigerian pension reform, leading to a comprehensive review of implementating the PRA 2014. The director-general

recalled that the first run of the sensitisation conference was successfully held in Lagos on October 30, 2014, where experts discussed the provisions of the PRA 2014 with emphasis on issues relating to investment of pension fund assets while the second run was held in Abuja on May 20, 2015, during which the focus was on the public sector issues, including the roles and responsibilities of government agencies under the PRA 2014. She noted, “The Enugu

run, which we are holding today, is the third in the series of such conferences scheduled to be held in all the six geopolitical zones, and would focus on the overall developments ushered in by the PRA 2014.” She added, “It is pertinent to note that the Pension Reform Act 2014 reenacted the fundamental provisions of the repealed PRA 2004, which include inter alia, the establishment of the Contributory Pension Scheme, uniform standards for pension

administration as well as the National Pension Commission as the sole regulator and supervisor of pension matters in Nigeria. However, there are new developments introduced by the PRA 2014 such as the upward review of the minimum rate of pension contribution and the sanctions and penalties against infractions of the provisions of the Act. “Furthermore, the PRA 2014 has introduced a provision that allows contributors seeking to own their primary homes, to apply part of their Retirement Savings Account balances as equity contribution for residential mortgage, subject to the Guidelines issued by the Commission."

L-R: Director, Beta Glass Plc, Mr. Kolapo Lawson; Directors, Mr. John Mastoroudes and Abimbola Ogunbanjo, during the 41th Annual General Meeting by Beta Glass Plc, at Mainland Hotel, Oyingbo, Lagos. PHOTO: TONY EGUAYE

s part of an arrangement to protect its official vehicles from theft, the Osun State Government has entered into an agreement with 10 insurance companies and some brokers for vehicle registration and renewal. The e-insurance will assist in detecting any stolen vehicle through insurance security code and ensure that vehicle owners comply with relevant laws. A statement to this effect revealed that the agreement was designed to ensure that vehicle owners complied with relevant laws in respect of the insurance of their vehicles as well as curb rampant fake insurance certificates in the state. It will also enable vehicle owners have confidence in dealing with insurance companies and foster a unique pattern for the operation of the insurance companies and brokers across the state. The Acting Chairman, Osun State Internal Revenue

Third Party: Underwriters sign pact with Osun Board, Mr. Dayo Oyebanji, said that the agreement would ensure that vehicles owners do not patronise touts and unregistered insurance companies and brokers, adding that it would also assist in detecting easily stolen vehicles through insurance security code and widening the tentacle of revenue automation of the state. Oyebanji, who signed the agreement on behalf of the government, said it would create an ascertainable legal basis for the conduct of relationships between the parties that is, the Insurance Companies and the insured persons in the course of the establishment and the operation of einsurance. He said, “The essence of the ‘Third Party Insurance for Vehicle Registration and Renewal is to make vehicle owners to be confident in deal-

ing with insurance companies and brokers in the state and confirm the validity of their third party insurance certificates through electronic means. “It would also enable the various insurance companies and brokers to come together to have a unique pattern of operation that people of Osun would repose their confidence in and at the same time avail the people of Osun the opportunity to insure their vehicle assets.” The insurance companies involved include Lasaco Assurance; Law Union and Rock Insurance Plc; Leadway Assurance Company; Zenith General Insurance; NEM Insurance Plc; Mutual Benefits Assurance; Niger Insurance; Staco Insurance; Cornerstone Insurance and Great Nigeria Insurance Plc.

NAICOM confirms Samuel as NICON MD

he National Insurance Commission (NAICOM) has confirmed the appointment of Bayode Samuel as the Managing Director/Chief Executive Officer of NICON Insurance Limited. The confirmation was conveyed in a letter addressed to the Chairman of the Board of Directors of NICON and signed by Pius Agboola, Director (Authorisation and Policy) on behalf of the Commissioner for Insurance. NICON’s Senior Manager (Corporate Affairs), Ade Adesokan, in a statement, said Samuel’s appointment was part of the Board resolution and firm desire to reposition the company for better service delivery to its esteemed customers and members of the public. He said the new NICON boss is poised to re-estab-

lishing the presence of the organisation as a value creating world class player in the insurance market by delivering superior financial performance to all its shareholders. Samuel, a technocrat and insurance professional of over 30 years experience, was until his new appointment the Executive Director (Technical) of the company. He was also the former Chief Operating Officer (Branch Acquisition, Network and Operations) of the company. Samuel, according to the statement, started his insurance career in 1984 with the Leadway Assurance Company Limited, where he rose to become the Head of Pensions Department in 1992 before joining Industrial and General Insurance Plc as pioneer Head of Life and Pensions Division.

Business | Financial Market News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

10-Jul-15

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

Bonds

FGN Bonds Issuer

Rating/Agency

TOTAL OUTSTANDING VALUE

Description ^13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Price

Offer Price

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

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

581.39 480.13 20.00 100.00 300.00 351.30 233.90 233.73 605.31 599.99 75.00 150.00 200.00 591.57 324.50

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

1.10 1.80 2.05 2.14 2.89 3.97 4.29 4.60 6.55 8.68 13.39 13.87 14.36 15.04 19.02

14.31 14.60 14.67 14.69 14.82 14.95 15.01 14.94 14.97 14.96 16.05 16.19 16.34 15.56 14.99

14.16 14.51 14.58 14.60 14.75 14.85 14.90 14.85 14.90 14.90 15.99 16.12 16.26 15.49 14.94

98.72 100.70 91.71 90.45 90.56 103.05 75.29 101.90 105.79 96.31 94.23 79.74 57.00 68.00 82.24

98.87 100.85 91.86 90.60 90.71 103.35 75.59 102.20 106.09 96.61 94.53 80.04 57.30 68.30 82.54

Bid Yield (%) Offer Yield (%)

4,846.82

TOTAL MARKET CAPITALISATION Rating/Agency

Price

4,418.05 Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

FMBN

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

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

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.98 1.41 1.78 1.99

2.94 1.00 2.66 3.13

17.28 15.47 17.25 17.79

99.97 100.61 102.51 98.08

31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 10-Oct-20 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21

0.14 0.22 0.72 0.73 1.78 1.26 2.48 1.86 1.87 2.05 2.06 2.04 2.48 4.37 2.54 3.24 5.38 5.48 3.32 3.35

4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00 1.00 4.78 1.00 2.02 1.00 1.00 1.82 1.00 1.00 1.00 1.00

16.46 16.80 18.71 17.74 15.59 15.42 16.54 16.42 15.62 15.68 19.46 15.67 16.77 16.01 15.76 16.70 16.01 16.01 15.90 15.90

99.36 99.11 96.95 98.52 91.56 98.16 95.00 96.33 97.46 98.03 91.38 99.67 97.52 95.32 97.99 95.42 91.12 96.39 96.64 97.81

17-Aug-15 09-Dec-15 06-Jan-16 29-Sep-16 25-Oct-16 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 30-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 14-Nov-20 20-Nov-21 30-Dec-21 30-Sep-24 30-Sep-24

0.10 0.42 0.49 1.22 1.29 2.23 1.46 1.50 1.67 1.67 3.23 1.77 1.85 2.48 5.35 6.36 6.47 9.23 9.23

1.00 1.00 2.63 1.00 1.34 1.00 1.88 1.00 1.00 1.00 3.00 2.29 6.11 2.16 2.76 1.80 1.00 1.00 1.00

12.34 15.13 16.81 15.41 15.77 15.70 16.36 15.49 15.55 15.55 17.88 16.88 20.73 16.91 17.77 16.82 16.02 16.10 16.10

99.74 98.75 98.66 97.35 98.22 95.02 102.73 100.58 103.27 100.55 90.72 98.30 96.20 98.18 91.46 90.13 101.67 100.81 86.47

Agency Bonds ***LCRM

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

299.85

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

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

12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 10-OCT-2020 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

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

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

8.50 2.16 2.60 3.96 57.00 21.24 25.00 30.81 9.00 12.40 9.21 27.00 15.09 80.00 24.74 10.78 87.50 5.00 4.30 4.31

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

440.60 418.16

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

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

10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 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 15.25 NAHCO II 14-NOV-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024

TOTAL OUTSTANDING VALUE

17-Aug-10 09-Dec-10 06-Jan-11 29-Sep-11 25-Oct-13 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 30-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 14-Nov-13 20-Nov-14 30-Dec-14 30-Sep-14 30-Sep-14

10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.25 14.25 16.45 16.29 13.25

2.50 9.38 0.22 15.00 5.53 20.00 0.56 5.40 2.54 0.70 35.00 2.10 0.36 4.50 2.05 26.00 30.50 0.10 15.44

177.87

TOTAL MARKET CAPITALISATION

168.68

Supranational Bond AAA/S&P

IFC

Aaa/Moody's; AAA/S&P

AfDB

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.59

1.00

15.77

88.50

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.81

1.00

15.99

87.06

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 21.89 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

6.07

5.87

103.16

104.11

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.15

4.86

99.92

100.72

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.40

6.24

99.84

100.82

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,514.57

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.95

101.25

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.52

99.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

7.52

09-May-13

6.88

300.00

02-May-18

10.21

88.86

91.99

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

11.62

08-Nov-13

6.00

400.00

08-Nov-18

7.08

94.94

96.85

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

7.75

22-Apr-14

6.25

500.00

22-Apr-19

7.60

95.63

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

7.60

21-May-14

8.75

200.00

21-May-19

9.65

95.54

97.13

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

10.17

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

9.28 10.52 9.78

9.28 10.18 9.78

95.25 94.72 91.25

95.25 96.16 91.25

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.59

9.97

91.13

93.75

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3,650.00 3,473.09

**Treasury Bills^ DTM 13 20 27 34 48 55 62 76

FIXINGS Maturity 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15

Bid Discount (%) 6.93 9.40 10.41 10.57 9.50 11.66 12.07 11.86

Offer Discount (%) 6.68 9.15 10.16 10.32 9.25 11.41 11.82 11.61

Bid Yield (%) 6.94 9.44 10.49 10.67 9.62 11.87 12.32 12.16

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 13.7500 14.1487 16.1366 17.0163

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.96

Tenor

Bid ($/N)

Offer ($/N)

O/N

11.50

Spot 7D 14D 1M 2M 3M

197.40 199.17 199.52 200.33 201.67 204.60

197.50 199.56 199.97 200.88 202.84 206.14

Tenor Call 1M

REPO

Rate (%) 11.50 11.75

accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds

FGN Bonds Issuer

Rating/Agency

Description

NA NEW TELEGRAPH MONDAY, JULY 13,NA 2015

NEGATIVE TOTAL OUTSTANDING VALUE

The stock market may dip further following Rating/Agency Issuer disappointing H1 earnings

TOTAL MARKET CAPITALISATION

Agency Bonds

FMBN

Stories by Chris Ugwu

***LCRM

Issue Date

Coupon (%)

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

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

581.39 480.13 20.00 100.00 300.00 351.30 233.90 233.73 605.31 599.99 75.00 150.00 200.00 591.57 324.50

^13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

he delay by the new administration in NiSub-National Bonds A/Agusto geria to name KADUNA cabinet A-/Agusto *EBONYI members to drive BBB+/Agusto *BENUE gov‡ /Agusto *IMO ernment policies is increasA+/Agusto; ‡ /GCR LAGOS ing uncertainty and*BAYELSA negative ‡ /Agusto ‡ /Agusto EDO sentiment in the nation’s stock ‡ /Agusto; A+/GCR *DELTA Bb-/Agusto; A-/GCR NIGER market. ‡ /Agusto; A-/GCR† *EKITI This was the verdict of exBb-/Agusto *NIGER ‡ /Agusto; *ONDO perts atA-/GCR the Financial DerivaBBB+/Agusto; A-/GCR *GOMBE Aa-/Agusto; ‡ /GCR LAGOS tives Companies (FDC) Limited, BBB-/Agusto; BBB+/GCR *OSUN run by foremost economist, Mr. BBB-/Agusto *OSUN Aa-/Agusto; ‡ Rewane. /GCR LAGOS Bismark A-/Agusto; BBB+/DataPro KOGI The experts said this ‡ /Agusto *EKITI while A-/GCR *NASARAWA presenting the company’s TOTAL OUTSTANDING VALUE monthly economic news and TOTAL MARKET CAPITALISATION

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

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

1.10 1.80 2.05 2.14 2.89 3.97 4.29 4.60 6.55 8.68 13.39 13.87 14.36 15.04 19.02

14.31 14.60 14.67 14.69 14.82 14.95 15.01 14.94 14.97 14.96 16.05 16.19 16.34 15.56 14.99

14.16 14.51 14.58 14.60 14.75 14.85 14.90 14.85 14.90 14.90 15.99 16.12 16.26 15.49 14.94

98.72 100.70 91.71 90.45 90.56 103.05 75.29 101.90 105.79 96.31 94.23 79.74 57.00 68.00 82.24

98.87 100.85 91.86 90.60 90.71 103.35 75.59 102.20 106.09 96.61 94.53 80.04 57.30 68.30 82.54

# Risk Premium

Valuation Yield

Modelled

1.79 1.80 1.00 1.00 4.78 1.00 2.02 1.00 1.00 1.82 1.00 1.00 1.00 1.00

16.54 16.42 15.62 15.68 19.46 15.67 16.77 16.01 15.76 16.70 16.01 16.01 15.90 15.90

95.00 96.33 97.46 98.03 91.38 99.67 97.52 95.32 97.99 95.42 91.12 96.39 96.64 97.81

9.97

91.13

93.75

Business | Financial Market News

Experts: Cabinet delay fueling bad sentiment in stocks 4,418.05

Description

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

views at Lagos Business School (LBS). 12.50 KADUNA 31-AUG-2015 Specifically , they said that ab13.00 EBONYI 30-SEP-2015 sence of aBENUE firm30-JUN-2016 policy direction 14.00 IMO 30-JUN-2016 makes15.50 investors jittery, adding 10.00 LAGOS 19-APR-2017 that the market remains bear13.75 BAYELSA 30-JUN-2017 EDO 31-DEC-2017 ish as 14.00 investors seek shelter in 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 alternative asset classes. 14.50 EKITI 09-DEC-2018 They that the an14.00noted NIGER III 12-DEC-2018 15.50 ONDOreleased 14-FEB-2019 in June nual results 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 showed by quoted companies OSUN 12-DEC-2019 mixed14.75 performance, stressing 14.75 OSUN II 10-OCT-2020 13.50 LAGOS market 27-NOV-2020may dip that the stock 15.00 KOGI 31-DEC-2020 further14.50 following disappointing EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021 H1 earnings. The experts said that stocks

Corporate Bonds

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

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

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.98 1.41 1.78 1.99

was set to find new bottoms when floor price removal be31-Aug-10 12.50 comes effective (the one kobo 30-Sep-10 13.00 rule), adding that market 30-Jun-11 14.00turnover will30-Jun-09 increase after15.50 policy 19-Apr-10 10.00 13.75 becomes30-Jun-10 effective in August. 30-Dec-10 14.00 Besides, they noted that 30-Sep-11 14.00 for04-Oct-11 reversals 14.00were eign portfolio 09-Dec-11 14.50 imminent as Federal Reserve 12-Dec-13 14.00 14-Feb-12 15.50 is set to increase interest rates. 02-Oct-12 15.50 14.50 that While22-Nov-12 being optimistic 12-Dec-12 14.75 political10-Oct-13 stability in the coun14.75 13.50 try will 27-Nov-13 attracts foreign invest31-Dec-13 15.00 ment, which will add liquidity 31-Dec-13 14.50 06-Jan-14 15.00 in the market, they noted that the market may remain quiet in

297.52

299.85 the month of July, as it awaits Q2 corporate announcements. 8.50 31-Aug-15 0.14 Rewane had recently noted 2.16 30-Sep-15 0.22 that that the current 2.60 30-Jun-16 downturn 0.72 3.96 30-Jun-16 0.73 in 57.00 the nation’s capital market 19-Apr-17 1.78 21.24 30-Jun-17 1.26 might be sustained, adding 25.00 31-Dec-17 that this became necessary 2.48 fol30.81 30-Sep-18 1.86 9.00 04-Oct-18 economic 1.87 lowing challenging 12.40 09-Dec-18 2.05 outlook that had continued2.06 to 9.21 12-Dec-18 27.00 14-Feb-19 2.04 fuel negative sentiments on the 15.09 02-Oct-19 2.48 80.00 22-Nov-19 4.37 capital market. 24.74 12-Dec-19 2.54 Nigerian stocks fell to a three10.78 10-Oct-20 3.24 87.50 27-Nov-20 5.38a month low and the naira hit 5.00 31-Dec-20 5.48 new on the parallel 4.30record low 31-Dec-20 3.32 4.31 3.35 market on last06-Jan-21 week, as inves440.60 tors who were worried about a 418.16

IOSCO releases SME financing report BBB+/Agusto BBB-/Agusto BB/GCR A+/Agusto; A-/GCR A-/Agusto A/GCR BBB-/GCR Nil A-/DataPro†; B+/GCR AAA/DataPro†; A/GCR A+/Agusto; A/GCR BBB+/Agusto; BBB+/GCR BBB-/DataPro†; BB/GCR Nil A+/Agusto; A-/GCR BBB/GCR A/GCR A/GCR A/GCR

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

17-Aug-10 09-Dec-10 06-Jan-11 29-Sep-11 25-Oct-13 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 30-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 14-Nov-13 20-Nov-14 30-Dec-14 30-Sep-14 30-Sep-14

10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.25 14.25 16.45 16.29 13.25

2.50 9.38 0.22 15.00 5.53 20.00 0.56 5.40 2.54 0.70 35.00 2.10 0.36 4.50 2.05 26.00 30.50 0.10 15.44

17-Aug-15 09-Dec-15 06-Jan-16 29-Sep-16 25-Oct-16 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 30-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 14-Nov-20 20-Nov-21 30-Dec-21 30-Sep-24 30-Sep-24

he Board of the Inter- were a major contributor to gain insight into the challeng- financing on capital markets, national Organisation long-term economic growth es and best practices of SME such as fear of losing ownerof Securities Commis- and employment, adding financing. Forty-five jurisdic- ship and relatively high reguUBA however, that they often tions responded to the survey, latory costs. sions (IOSCO) has published *LA CASERA *CHELLARAMS the report on Small and Medi- struggle to find financing of which 31 respondents were “In response, most of the um Scale Enterprises*DANA (SME) due, in part, to the relatively emerging market members. jurisdictions surveyed have NAHCO “The results of the survey been reviewing their respecfinancing through FCMB capital high investment risk they UBA markets. represent. indicated that bank loans tive regulatory frameworks STANBIC IBTC STANBIC The study according to IBTC a The regulator said that are the primary source of fi- and taking specific initiatives TOTAL OUTSTANDING VALUE 177.87 statement on IOSCO’s web- SMEs' financing challenge nancing for both publicly and to facilitate SME access to TOTAL MARKET CAPITALISATION 168.68 site, provides recommenda- has increased in the after- privately held SMEs in most capital markets. Supranational Bond followed by eq-10.20 tions for regulators to facili- math of 10.20 theIFC global financial jurisdictions,11-Feb-13 Successful measures in11-FEB-2018 AAA/S&P 12.00 11-Feb-18 IFC AFDB face 1-FEB-2021 venture capital11.25 clude establishing tate capital raising byAfDB SMEs crisis as 11.25 banks tougher uity finance, 10-Jul-14 separate Aaa/Moody's; AAA/S&P 12.95 01-Feb-21 TOTAL OUTSTANDING VALUE 24.95 fixed income in emerging markets. liquidity requirements and and other related governmen- equity and TOTAL MARKET CAPITALISATION Besides, it identifies the leverage constraints. tal and international funds. markets 21.89 with regulatory reOutstanding Value challenges facing SMEs inIssuer It noted that capital mar- Capital markets also offered quirements tailored to SMEs, Description Rating/Agency Issue Date Coupon (%) Maturity Date ($mm) accessing market-based fikets have a role in bridging other funding alternatives, establishing market advisor FGN Eurobonds including equity financing and market-making systems, nancing and examines some this financing gap 6.75 forJAN SMEs 28, 2021 07-Oct-11 6.75 500.00 28-Jan-21 BB-/Fitch; B+/S&P of the successful measures by providing alternative via listing on alternative ex- and introducing alternative BB-/Fitch; FGN 5.13 JUL 12, 2018 12-Jul-13 5.13 500.00 12-Jul-18 implemented by regulators funding sources. change boards, issuance of methods of financing such as BB-/S&P BB-/Fitch; 6.38 JUL 12, 2023 12-Jul-13 6.38 private equity 500.00 , venture 12-Jul-23 and other policymakers to “In May 2012, IOSCO’s debt securities, crowd fundcapiBB-/S&P TOTAL SMEs OUTSTANDING VALUE capi1,500.00 then Emerging Markets ing, Sukuk funds, securitisa- tal and securitisation. assist in tapping TOTAL MARKET CAPITALISATION 1,514.57 tal markets. The findings are Committee - now known as tion and government initiaIn recognition of the imthe Growth and Emerging tives that encourage private portance of this issue, the based on survey Corporate Eurobonds responses 7.50-MAY 2016 500.00 B+/Fitch; B+/S&P GTBANK PLC I Markets Committee will 19-May-16 have a and best practice by member set19,up investment,”19-May-11 the Internation-7.50 IOSCO Board 7.25 JUL 25, 2017 25-Jul-12 7.25 350.00 25-Jul-17 B+/S&P ACCESS BANK PLC roundtable on the issue of jurisdictions. The Financial a Task Force on Financing al regulator said. 6.88 MAY 09, 2018 09-May-13 6.88 300.00 02-May-18 B/Fitch; B/S&P FIDELITY BANK PLC Services Board of South Afof SMEs through the IOSCO noted that in many6.00 SME access based 6.00Capital NOV 08, 2018 08-Nov-13 400.00to market 08-Nov-18 B+/Fitch; B+/S&P GTBANK PLC 6.25 APR 22, 2019 22-Apr-19 B+/Fitch; BB-/S&P BANK PLC its next meeting in rica was the penholderZENITH for the Markets. The Task Force con- jurisdictions,22-Apr-14 SMEs continue6.25 finance at500.00 8.75 May 21, 2019 21-May-14 8.75 200.00 21-May-19 B/Fitch; B/S&P DIAMOND BANK PLC report. ducted a fact-finding survey to face impediments that disToronto in October 2015,” it 8.25 AUG 07, 2020 07-Aug-13 8.25 300.00 07-Aug-20 B-/Fitch; B/S&P FIRST BANK PLC 9.25/6M USD LIBOR+7.677 JUN 24, 2021 24-Jun-14 9.25 400.00 24-Jun-21 B-/Fitch; B/S&P noted that ACCESS BANK PLC II IOSCO SMEs among IOSCO members to courage them from raising noted. 8.00/2Y USD SWAP+6.488 JUL 23 2021 23-Jul-14 8.00 450.00 23-Jul-21 B-/Fitch; B/S&P FIRST BANK LTD B-/S&P

4,846.82

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

Price

Outstanding Value (N'bn)

#{r}

8.75 AUG 14, 2021

ECOBANK NIG. LTD

14-Aug-14

8.75

250.00

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

14-Aug-21

(%) Price shortage of dollars on the cur(%) rency market sold shares. 2.94 17.28 99.97 According to Reuters100.61 News, 1.00 15.47 2.66 17.25 102.51 Nigeria's stock market, which 3.13 17.79 98.08 has the second-biggest weighting after Kuwait on the MSCI frontier market index, dropped 4.44 16.46 99.36 for the sixth consecutive day, as 3.23 16.80 99.11 investors pulled out of equities 4.46 18.71 96.95 3.48 17.74 98.52 to short-dated Treasury bills in 1.00 15.59 91.56 1.00 of yield. 15.42 98.16 search

NSE ALL-Share index down by 2.49%

0.10 0.42 0.49 1.22 1.29 2.23 1.46 1.50 1.67 1.67 3.23 1.77 1.85 2.48 5.35 6.36 6.47 9.23 9.23

2.59 3.81

Bid Yield (%)

6.07 5.15 6.40

5.95 7.52 11.62 7.75 7.60 10.17 9.28 10.52 9.78

rading activities on the floor of the Nigerian Stock Exchange (NSE) continued to tilt downward, as the the NSE All-Share Index and Market Capitalisation depreciated by12.34 2.49 per cent 1.00 99.74 to 15.13 98.75 close1.00 at the weekend at 31,729.26 2.63 16.81 98.66 and 1.00 N10.836 trillion respectively . 15.41 97.35 1.34 15.77 98.22 Similarly , all the Indices fin1.00 15.70 95.02 1.88lower during 16.36 ished the102.73 week, 15.49 with1.00 the exception of100.58 NSE 1.00 15.55 103.27 1.00 15.55 Insurance Index that 100.55 closed 3.00 higher by 1.26 17.88 per cent. 90.72 2.29 16.88 98.30 96.20 A6.11 turnover20.73 of 1.264 billion 2.16 16.91 98.18 shares worth N15.770 billion in 2.76 17.77 91.46 1.80deals were 16.82traded during 90.13 17,016 1.00 16.02 101.67 the 1.00 week by investors on the 16.10 100.81 16.10 86.47 floor1.00of the Exchange in contrast to a total of 1.269 billion shares valued at N17.570 billion that1.00 exchanged15.77 hands the88.50 previous 1.00 week in 18,993 15.99 deals. 87.06 The Financial Services Industry (measured by volume) led the(%)activity Offer Yield Bid Price chart Offer with Price 831.925 million shares valued Prices & Yields at N8.924 billion traded in 9,602 5.87 103.16 104.11 deals, thus contributing 65.81 99.92 100.72 per 4.86 cent and 56.59 per cent to 99.84turnover 100.82 the 6.24 total equity volume and value respectively. The Natural Resources Industry followed with a turnover 5.95 101.25 shares101.25 of 210.046 million worth 7.52 99.50 99.50 N105.218 million in 14 deals. The 10.21 88.86 91.99 third place was occupied96.85 by Oil 7.08 94.94 95.63 and7.60 Gas Industry with 95.63 59.600 9.65 95.54 97.13 million shares worth N1.418 9.28 95.25 95.25 10.18 in 1,632 94.72 96.16 billion deals. 9.78 91.25 91.25

10.59

3,650.00 3,473.09

The DQL contains **Treasury Bills^

10-Jul-15

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 FIXINGS Money Market Exchange (Spot & Forwards) professional,DTM financial or investment advice. We attempt to ensure the Information isOffer accurate; however, the Information on an “AS AVAILABLE” basis be (%) accurate orForeign up to date. We do not guarantee the Maturity Bid Discount (%) Discount (%) Bid Yield (%) is provided “AS IS” and Tenorand may not Rate NIBOR 13 23-Jul-15 6.93 6.94 do we accept liability for the results of any action takenOBB accuracy, timeliness, completeness, performance or fitness for a particular purpose of any 6.68 of the Information, neither on the basis of the Information.Tenor 10.96 Bid ($/N) Offer ($/N) 20 27 34 48 55 62 76 Rating/Agency 83 97 111 125 139 146 153 160 167 181 188 195 NA 202 209 216 223 230 237 251 258 265 272 286 300 328

FGN Bonds

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 Issuer 1-Oct-15 15-Oct-15 29-Oct-15 12-Nov-15 26-Nov-15 3-Dec-15 10-Dec-15 17-Dec-15 24-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 NA 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16 31-Mar-16 7-Apr-16 21-Apr-16 5-May-16 2-Jun-16

9.40 10.41 10.57 9.50 11.66 12.07 11.86 Description 12.99 13.57 13.65 ^13.05 16-AUG-2016 13.28 ^15.10 27-APR-2017 13.73 12.17 9.85 27-JUL-2017 13.67 9.35 31-AUG-2017 12.71 10.70 30-MAY-2018 13.78 13.24 ^16.00 29-JUN-2019 13.78 7.00 23-OCT-2019 13.58 13.77 ^15.54 13-FEB-2020 13.70 ^16.39 27-JAN-2022 13.67 ^14.20 14-MAR-2024 13.65 13.76 15.00 28-NOV-2028 13.50 12.49 22-MAY-2029 13.73 13.59 8.50 20-NOV-2029 13.79 ^10.00 23-JUL-2030 13.38 ^12.1493 18-JUL-2034 13.44 13.14 12.85

9.15 10.16 10.32 9.25 11.41 11.82 11.61 Issue Date 12.74 13.32 13.40 16-Aug-13 13.03 27-Apr-12 13.48 11.92 27-Jul-07 13.42 31-Aug-07 12.46 30-May-08 13.53 12.99 29-Jun-12 13.53 23-Oct-09 13.33 13.52 13-Feb-15 13.45 27-Jan-12 13.42 14-Mar-14 13.40 13.51 28-Nov-08 13.25 22-May-09 13.48 13.34 20-Nov-09 13.54 23-Jul-10 13.13 18-Jul-14 13.19 12.89 12.60

9.44 10.49 10.67 9.62 11.87 12.32 12.16 Coupon 13.39 (%) 14.07 14.24 13.05 13.91 15.10 14.49 12.80 9.85 14.50 9.35 13.46 10.70 14.71 14.17 16.00 14.83 7.00 14.64 14.90 15.54 14.87 16.39 14.87 14.20 14.89 15.06 15.00 14.79 12.49 15.16 15.03 8.50 15.33 10.00 14.86 12.1493 15.02 14.72 14.52

Bonds

Tenor O/N 1M 3M 6M

Rate (%) 13.7500 14.1487 16.1366 17.0163

Tenor 581.39 1M 480.13 2M 3M 20.00 6M 100.00 9M 300.00 12M

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

Agency Bonds FMBN ***LCRM

Modified Duration Buckets

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

>5 Market

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

<3 3<5

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

Description

Issue Date

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

Rate (%) 16-Aug-16 10.1102 27-Apr-17 12.7013 13.7789 27-Jul-17 14.1221 31-Aug-17 14.8389 30-May-18 15.1458

351.30 29-Jun-19 233.90 23-Oct-19 NIFEX 233.73 13-Feb-20 Current Price ($/N) 605.31 27-Jan-22 BID($/N) 198.9500 599.99 14-Mar-24 OFFER ($/N) 199.0500 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 324.50 18-Jul-34

Rate (%) 11.50 11.75 Bid12.00 Yield 12.25

(%)

1.10 14.31 14.16 1.80 14.60 14.51 :Benchmarks 2.05 14.67 14.58 * :Amortising Bond 2.14 14.69 14.60 µ :Convertible Bond 2.89 14.82 14.75 AMCON: Asset Management Corporation of Nigeria FGN: Federal Nigeria 3.97Government of 14.95 14.85 FMBN: Federal Mortgage Bank of Nigeria 4.29 15.01 14.90 IFC: International Finance Corporation LCRM: Local Management 4.60Contractors Receivables 14.94 14.85 NAHCO: Nigerian Aviation Handling Company 6.55 14.97 14.90 O/N: Overnight 8.68 14.96 Company 14.90 UPDC: UAC Property Development WAPCO:West Africa Portland Cement Company 13.39 16.05 15.99 13.87 16.19 16.12 14.36 16.34 16.26 15.04 15.56 15.49 19.02 14.99 14.94 NOTE:

197.40 199.17 199.52 200.33 201.67 204.60 Bid Price 210.54 222.82

197.50 199.56 Price 199.97 200.88 202.84 206.14 Offer Price 212.67 227.51

98.72 100.70

98.87 100.85

103.05

103.35

105.79

106.09

79.74 57.00 68.00 82.24

80.04 57.30 68.30 82.54

Valuation Yield (%)

Modelled Price

NA :Not 91.71 Applicable 91.86 ^ : Market Prices 90.45 90.60 # : Floating Rate Bond 90.56coupon bonds 90.71 ***: Deferred

‡ : Bond rating under review 75.59 †: Bond 75.29 rating expired N/A :Not Available 101.90 102.20 {r} :Issuer in receivership

96.31 96.61 NGC: Nigeria-German Company UBA: United 94.23Bank for Africa 94.53

4,418.05 Coupon (%)

Outstanding Value (N'bn)

03-Apr-12FMDQ FGN 17.25 BOND INDEX 2.10 09-Dec-11 0.00/16.00 112.22 20-Apr-12 0.00/16.50 116.70 Weighting by Weighting by Mkt Bucket Weighting Outstanding Value 06-Jul-12Vol 0.00/16.50 66.49

842.14

828.10

26.06

28.43

1,433.72

45.12

48.98

669.12

916.07

28.83

22.59

2,961.99

3,177.88

100.00

31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11

Tenor Call 1M TTM 3M(Yrs) 6M

Spot 7D 14D 1M 2M 3M Offer6M Yield 1Y

4,846.82

1,450.73

11.50

REPO

Outstanding Value Maturity Date (N'bn) NITTY

*for the Amortising bonds, the average life is calculated and not the duration #

O/N

12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50

Maturity Date

03-Apr-17 08-Dec-16 19-Apr-17 % Exposure_ Mod_Duration 06-Jul-17

Avg. Life/TTM (Yrs)

0.98 1.41 1.78 Implied Yield 1.99

# Risk Premium (%)

2.94 1.00 2.66 Implied Portfolio Price 3.13

17.28 15.47 17.25 INDEX 17.79

99.97 100.61 102.51 YTD Return (%) 98.08

297.520.26

13.47

14.81

128.5087

1,169.13

5.5317

0.45

44.49

14.96

124.9380

1,083.14

6.9690

0.29

42.04

15.33

91.0971

1,098.27

9.0617

1.00

100.00

15.10

116.1134

1,105.70

299.85 8.50 2.16 2.60 3.96 57.00 21.24 25.00 30.81 9.00 12.40

31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18

0.14 0.22 0.72 0.73 1.78 1.26 2.48 1.86 1.87 2.05

4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00 1.00

16.46 16.80 18.71 17.74 15.59 15.42 16.54 16.42 15.62 15.68

4.7877

99.36 99.11 96.95 98.52 91.56 98.16 95.00 96.33 97.46 98.03

42 Business | Interview

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Listing of telcos, oil and gas firms’ll deepen capital market –Sotubo There have been agitations for multinational oil and gas companies and telecoms giants to list on the Nigerian Stock Exchange. What efforts are market operators like your company making to encourage them to list on the Nigerian Stock Exchange? The listing of these companies will help deepen the capital market. The regulators and operators are currently in discussion with government on the best way to ensure that these companies list on The Exchange to help deepen the market. Beyond that, we will continue to play an active role in listing such companies on the NSE. The listing of SEPLAT, an oil and gas company, on the NSE, is a clear example of our contribution, as financial services group, to deepening the NSE. Investor confidence continues to be a major issue since the market crash of 2008. Reports suggest that over N793 billion was pulled out of the market by foreign investors in 2014. What needs to be in place to sustain the interest of local investors? Restoring confidence in the market after the global melt down will be a gradual process as activities in the equities market is cyclical. Foreign investment withdrawal from the market in 2014 was largely as a result of Macros fall in oil prices and currency devaluation and exchange rate instability. Improved macro-economic situation will galvanise investors’ interest and boost retail investors’ confidence in the market. The increase in the number of more sophisticated domestic investors such as pension and asset management and insurance companies should drive participation in the medium to longer-term. We believe that the increase in retail investment products such as ETFs will also encourage retail investors’ participation. The current reforms in the economy, particularly in power and agriculture, have helped to position Nigeria as an investment haven. Are investors showing strong appetite for opportunities in these sectors? With the recent GDP rebasing and the reforms around the power sector, we see strong appetite from investors, perhaps not on the stock market now. However, investors have shown increased interest in partnering with Nigerians on power projects and, to a large extent, agricultural transformation. The challenging macro-eco-

Mr. Dele Sotubo is the Chief Executive Officer (CEO) of Stanbic IBTC Stockbrokers. In this interview with Chris Ugwu, he discusses critical issues in the capital market and the company’s efforts in attracting interest in the market through stakeholder engagements

Sotubo

nomic environment is likely to slow down the pace of investment on that front as many players wait on the side-lines until the elections are well out of the way and the uncertainty around the fiscal operations of government has been eased. In the last decade, technology has redefined the operations of the capital market. How do you see technology shaping the stockbrokerage business in the next decade? The interesting thing about technology is that it fosters efficiency and productivity. It also drives transparency in the capital market. This can also be a mode through which retail investors can be attracted into the market.

Restoring confidence in the market will be a gradual process

Many Nigerians using mobile devices can now have access to put their trades through the market. With the introduction of Direct Market Access (DMA) and other similar initiatives, we expect that this will help to improve participation of investors in the capital market. There seems to be a general disposition by Pension Funds Administrations (PFAs) to Federal Government securities, about 40 per cent of PFA’s investments are skewed in that direction, followed by money market instruments. Investment in the capital market is considerably less. Which factors, in your opinion, other than regulation, determine these investment decisions? Apart from the perceived low

risk appetite of PFAs, which is understandable when we consider the adverse effects of the 2008 stock market crash on portfolio investors, we also believe that the limited number of high quality liquid stocks reduces their options. Lack of depth in the Nigerian market makes the available options limited. The preference for capital preservation and guaranteed money market yields also contribute to the low risk appetite for equities. Part of the regulation also requires pension funds to report returns on an annual basis, which discourages them from taking the long term view on investments. We expect the listing of more quality companies as reforms

Business | Interview

NEW TELEGRAPH MONDAY, JULY 13, 2015

Local Authority Stanbic IBTC Stockbrokers Limited Founded 1989 Membership The Standard Bank Group and The Nigerian Stock Exchange (NSE)

in sectors such as the power, oil and gas, telecommunication and agriculture increase demand for capital. The appointment of Stanbic IBTC Stockbrokers two years ago to manage bonds for the Federal Government was expected by stakeholders to lead to a more robust market for bonds, opening up the market to retail investors. Will you say that stakeholders’ expectations have been met? Yes, Stanbic IBTC Stockbrokers was appointed by the Debt Management Office as Government Stockbroker to FGN Bonds and part of the duties assigned is to create awareness on Retail Bond trading. Retail investors have started taking advantage of investing in bonds on the secondary market through retail bond trading as this helps to diversify their portfolio and manage their risk. Stanbic IBTC Stockbrokers Limited has been able to consistently provide liquidity in the retail bond market. We now have retail investors participating in the bond market with a minimum of N100,000 as against wholesale bond market which requires N100 million minimum. We will continue to organise workshops and educate the public on the advantages of investing in bonds. You were involved in the recent listing of the Stanbic IBTC ETF 30. The exchange traded fund is a relatively new product in the Nigerian market, barely three years old, with only three listings. Do you think that the market is sufficiently mature to appreciate this product? The market is growing gradually and the ETF will help deepen our market as well as diversify investors’ portfolio and risk. ETF represents baskets of stocks and a simplified method of investment whereby investors have a stake in many companies tracked by the ETF. More awareness towards its benefit will give room for growth. The market will definitely support this product. Stanbic IBTC Stockbrokers won the NSE CEO award as the best dealing member firm, both in volume and value terms in the capital market in 2014. To what did you ascribe this recognition? The award reinforces Stanbic IBTC Stockbrokers Limited as the largest stockbroking firm in Nigeria in both volume and value of total transactions executed in 2014. Market data for the year under review showed that Stanbic IBTC Stockbrokers Limited achieved a turnover in excess of 24 billion units of shares, which represented 11.42 per cent valued at over N472 billion or 17.55 per cent to lead both the volume and value tables. Stanbic IBTC

Sotubo

Stockbrokers was also the largest stockbroking house in Nigeria in 2013. We were able to provide flows and market intelligence to our clients, which helped us generate trades, coupled with our participation in major primary market transactions. We uphold integrity, standard operating processes and professionalism in our dealings. These continuously drive client patronage and great ethical standards. We also leveraged on the expertise of our research team in providing value added insights for our numerous clients.

The passive position of domestic investor has not helped the situation

Ethics and corporate governance are major talking points in the market, particularly after the 2008 market crash. How demanding is the corporate governance processes at Stanbic IBTC Stockbrokers and how do you ensure that staff play by the rules? Stanbic IBTC Stockbrokers Limited is known for integrity and professionalism, which comes from strong corporate governance. We have a robust compliance and monitoring team that ensures that all rules and regulations are adhered to. We will continue to uphold standard operating procedures, actively participate in the market without compromising our values and have every staff understand the company’s position at all times. We have zero tolerance for non-adherence to rules and regulations by staff members. Personal account trading rule and code of conduct are in place, which guide the activities of staff.

Stanbic IBTC Holdings has positioned itself as a financial supermarket, with interests in several sectors of the economy, including stockbrokerage. As a subsidiary of Stanbic IBTC Holdings, are you benefiting from cross-selling of solutions? Certainly, Stanbic IBTC Stockbrokers Limited is a member of the Stanbic IBTC Holdings, a full financial services group with a clear focus on three main business pillars - Corporate and Investment Banking, Personal and Business Banking and Wealth Management. We look to leverage on the group’s African and global footprint to attract the biggest clients into the Nigerian Capital markets. As mentioned earlier, the listing of SEPLAT is a clear example of how we benefit from Stanbic IBTC Holdings. The transaction was driven by the combination of our Corporate Finance and Equities brokerage business. The international presence of our parent company also played a major role as the stock was also listed on the London Stock Exchange, making it the first dual NSE/LSE listing. Cross selling exercises create immense opportunity for attracting and closing deals inhouse. We will continue to take advantage of this. What should investors expect from the capital market in the second half of 2015? We expect continuous volatility in the equities market as macro concerns linked to the falling oil price and currency drive investor sentiment. The passive position of domestic

investor has not helped the situation. Despite the bearish outlook, we expect trading opportunities to continue to emerge for shortterm investors while longerterm investors take advantage of the falling prices to increase exposure in quality stocks. However, we expect to continue to see investors interest in quality names.

Born Nil Education: Lagos State University B.Sc (Educ.) Economics MBA, University of Calabar Career: Stockbroking- Fellow of the Chartered Institute of Stockbrokers and an authorised dealing clerk of The Nigerian Stock Exchange. Professional Engagements: Led the implementation of several Corporate Arrangements -Packaging of the Ekiti Bond (2003/2004) Imo State Bond (2009) - Kwara State Bond (2009) - Zenith Bank Initial Public Offer - MTN Loan Syndication - Starcomms Initial Public Offer - Cadbury Loan Stock -Dangote Cement Offer - Several Treasury Bill Management Portfolios.

Business | Capital Market

MONDAY, JULY 13, 2015 NEW TELEGRAPH Daily Summary as of 10/07/2015 Printed 10/07/2015 14:32:45.045

Daily Summary as of 10/07/2015

Printed 10/07/2015 14:32:45.045

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

Daily Summary (Bonds)

Activity Summary on Board EQTY

Activity Summary on Board DEBT Federal

Bond Name 14.20% FGN MAR 2024 Federal Totals

Symbol FG112024S1

DEBT Board Totals

No. of Deals 1 1

Current Price 97.05

Bond Activity Totals

Quantity Traded 500 500

Value Traded 508,788.04 508,788.04

500

508,788.04

500

FINANCIAL SERVICES Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

508,788.04

Daily Summary (Equities) Activity Summary on Board EQTY

Livestock/Animal Specialties

Daily Summary as ofFEEDS 10/07/2015 LIVESTOCK PLC.

Printed 10/07/2015 14:32:45.045 Livestock/Animal Specialties Totals

Symbol OKOMUOIL PRESCO

No. of Deals 29 12 41

Current Price 28.50 34.00

Quantity Traded 513,068 143,054 656,122

Value Traded 14,393,191.54 4,838,286.00 19,231,477.54

Symbol LIVESTOCK

No. of Deals 17 17

Current Price 2.03

Quantity Traded 208,750 208,750

Value Traded 436,377.50 436,377.50

864,872

19,667,855.04

AGRICULTURE Totals

CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC.

Daily Summary (Equities) Symbol AGLEVENT

Activity Summary on Board EQTY

No. of Deals 4

Current Price 1.40

Quantity Traded 41,000

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

Symbol JOHNHOLT TRANSCORP UACN

No. of Deals 1 129 35 169

CONGLOMERATES Totals

Current Price 0.94 2.50 40.01

169

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

13,375,583

46,360,458.15

Current Price 0.73

Quantity Traded 108,271 108,271

Value Traded 79,887.13 79,887.13

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

Symbol JBERGER

No. of Deals 4 4

Current Price 47.97

Quantity Traded 116,837 116,837

Value Traded 5,602,591.89 5,602,591.89

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Daily Summary as Development of 10/07/2015 Real Estate Totals Printed 10/07/2015 14:32:45.045 CONSTRUCTION/REAL ESTATE Totals

Symbol UAC-PROP

No. of Deals 34 34

Current Price 10.40

Quantity Traded 293,811 293,811

Value Traded 3,028,446.67 3,028,446.67

518,919

8,710,925.69

Quantity Traded 950 84,890

Value Traded 5,567.00 11,831,165.14

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

Activity Summary on Board EQTY

2 34

5.61 139.80

Page

Published by The Nigerian Stock Exchange © CONSUMER GOODS Beverages--Brewers/Distillers INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

Symbol 7UP

No. of Deals 13 13

Current Price 189.00

Quantity Traded 183,453 183,453

Value Traded 34,655,286.00 34,655,286.00

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC NATIONAL SALT CO. NIG. PLC U T C NIG. PLC. Food Products Totals

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR MULTITREX NASCON UTC

No. of Deals 31 35 42 15 3 35 1 162

Current Price 3.40 6.30 32.30 3.23 0.50 7.60 0.50

Quantity Traded 314,321 5,169,501 123,234 243,883 3,056,250 616,921 20,000 9,544,110

Value Traded 1,081,378.69 32,567,960.45 3,946,853.31 788,998.59 1,528,125.00 4,625,053.82 10,000.00 44,548,369.86

No. of Deals 16 30 46

Current Price 35.05 850.00

Quantity Traded 44,516 8,817 53,333

Value Traded 1,482,382.80 7,290,765.32 8,773,148.12

No. of Deals 18

Current Price 5.88

Quantity Traded 248,850

Value Traded 1,411,123.00

Current Price 1.24

Page Quantity Traded 253,900 502,750

3 of 13 Value Traded 314,836.00 1,725,959.00

Symbol VITAFOAM

CONSUMER GOODS Published by The Nigerian Stock Exchange © Household Durables VONO PRODUCTS PLC. Household Durables Totals

Symbol VONO

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

Symbol PZ UNILEVER

No. of Deals 6 24 No. of Deals 30 24 54

CONSUMER GOODS Totals

Current Price 28.95 39.90

482 Symbol No. of Deals ACCESS 255 DIAMONDBNK 24 ETI 29 FIDELITYBK 38 GUARANTY 202 SKYEBANK 49 STERLNBANK 13 UBA 147 UBN 31 UNITYBNK 43 Daily WEMABANK Summary (Equities) 9 ZENITHBANK 238

Current Price 5.09 3.95 21.00 1.62 26.11 2.26 2.12 4.20 8.91 2.35 1.00 18.95

Quantity Traded 634,902 343,500 978,402

Value Traded 18,428,934.45 13,720,280.00 32,149,214.45

15,614,220

706,701,169.72

Quantity Traded 59,593,301 147,883 231,473 1,655,890 23,917,440 1,229,010 573,576 5,060,440 329,161 3,452,067 92,849 31,911,900

Value Traded 298,261,792.49 586,710.78 4,836,248.81 2,730,148.71 621,872,295.55 2,706,390.44 1,212,561.12 21,173,924.06 2,799,356.68 7,947,118.95 91,252.52 603,103,595.84

NATURAL RESOURCES Mining Services MULTIVERSE PLC Mining Services Totals

Banking Banking Totals

Insurance Carriers, Brokers and Services

Activity Summary on Board EQTY

FINANCIAL SERVICES Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC EQUITY ASSURANCE PLC. GREAT NIGERIAN INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC AXAMANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC RESORT SAVINGS & LOANS PLC Mortgage Carriers, Brokers and Services Totals Published by The Nigerian Stock Exchange ©

Symbol

No. of Deals 1,078

Current Price

Quantity Traded 128,194,990

Symbol

No. of Deals

Current Price

Quantity Traded

Daily Summary (Equities)

Symbol AIICO CONTINSURE EQUITYASUR GNI INTENEGINS LASACO LAWUNION LINKASSURE MANSARD MBENEFIT NEM NIGERINS UNIVINSURE WAPIC

Page

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors

BECO Daily Summary asPETROLEUM of 10/07/2015PRODUCT PLC CONOIL PLC Printed by 10/07/2015 14:32:45.045 Published The Nigerian Stock Exchange © ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Activity Summary on Board EQTY Distributors Totals

Quantity Traded 535,047 13,651,549 2,000 300,000 100 2,000 2,000 35,700 1,042,005 300 1,589,950 361,330 10,005,000 29,623 27,556,604

Symbol NPFMCRFBK

No. of Deals 3 3

Current Price 1.05

Quantity Traded 3,000 Page 3,000

Symbol ABBEYBDS RESORTSAL

No. of Deals 1 1 2

Current Price 1.25 0.50

Quantity Traded 5 200,000 200,005 Page

Employment Solutions C & I LEASING PLC. Employment Solutions Totals Daily Summary as of 10/07/2015 Printed 10/07/2015 14:32:45.045 Hotels/Lodging IKEJA HOTEL PLC TRANSCORP HOTELS PLC Hotels/Lodging Totals Printing/Publishing PLC.EQTY ActivityACADEMY SummaryPRESS on Board

Value Traded 509,004.65 14,296,506.36 1,000.00 150,000.00 50.00 1,000.00 1,000.00 17,850.00 2,973,324.75 150.00 1,070,865.00 180,665.00 5,002,500.00 14,811.50 24,218,727.26

Published by The Nigerian Stock Exchange © SERVICES Printing/Publishing LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

Current Price 0.50

Page Quantity Traded 10,000,000 10,000,000

7 Value of Traded13 5,000,000.00 5,000,000.00

10,000,000

5,000,000.00

Symbol ASHAKACEM BERGER CAP CCNN DANGCEM WAPCO

No. of Deals 9 15 10 12 8 42 96

Current Price 22.15 10.68 41.00 11.50 168.30 102.00

Quantity Traded 20,658 48,119 44,195 547,164 7,310 8,949,386 9,616,832

Value Traded 436,065.90 479,400.00 1,721,395.25 6,289,339.25 1,236,170.20 912,939,181.82 923,101,552.42

Symbol CUTIX

No. of Deals 4 4

Current Price 1.50

Quantity Traded 81,780 81,780

Value Traded 127,045.75 127,045.75

Symbol BETAGLAS

No. of Deals 4 4

Current Price 34.20

Quantity Traded 5,505 5,505

Value Traded 192,953.50 192,953.50

9,704,117

923,421,551.67

104

Symbol BOCGAS

No. of Deals 3 3

Current Price 4.86

Quantity TradedPage 13,150 13,150

Value Traded 13 8 of 61,403.00 61,403.00

Symbol

No. of Deals 1 1

Current Price 10.35

Quantity Traded 50 50

Value Traded 495.50 495.50

Symbol

No. of Deals

Current Price

Quantity Traded

Value Traded

ALEX Daily Summary (Equities)

Symbol MULTIVERSE

No. of Deals 5 5

Current Price 0.50

Quantity Traded 210,001,000 210,001,000

Value Traded 105,000,500.00 105,000,500.00

210,014,200

105,062,398.50

9 Symbol JAPAULOIL

No. of Deals 17 17

Current Price 0.50

Quantity Traded 415,881 415,881

Value Traded 207,940.50 207,940.50

Symbol OANDO

No. of Deals 140 140

Current Price 14.68

Quantity Traded 1,682,481 1,682,481

Value Traded 24,403,710.65 24,403,710.65

No. of Deals 2 23 11 52 24 (Equities) 5 11 128

Current Price 0.50 40.85 2.34 180.00 148.00 50.54 158.00

Quantity Traded 9,957,274 19,520 Page 57,752 1,615,787 63,335 3,140 34,217 11,751,025

Symbol BECOPETRO CONOIL ETERNA FO MOBIL Daily MRSSummary TOTAL

Symbol SEPLAT

No. of Deals 10 10

Current Price 330.11

295

Value Traded 4,978,637.00 723,389.26 13 of 130,045.30 290,703,965.87 9,472,029.81 150,782.80 5,403,246.00 311,562,096.04 9

Quantity Traded 12,427 Page 12,427

Value Traded 13 10 4,111,064.28 of 4,111,064.28

13,861,814

340,284,811.47

Symbol RTBRISCOE

No. of Deals 3 3

Current Price 0.77

Quantity Traded 12,803 12,803

Value Traded 9,474.22 9,474.22

Symbol REDSTAREX TRANSEXPR

No. of Deals 2 7 9

Current Price 4.75 1.44

Quantity Traded 20,489 50,136 70,625

Value Traded 96,396.10 72,459.55 168,855.65

Symbol CILEASING

No. of Deals 12 12

Current Price 0.52

Quantity Traded 1,086,500 1,086,500

Value Traded 556,960.00 556,960.00

Symbol IKEJAHOTEL TRANSCOHOT

No. of Deals 9 1 10

Current Price 4.19 7.86

Quantity Traded 225,696 5 225,701

Value Traded 910,533.04 40.75 910,573.79

No. of Deals 4

Current Price 0.95

Quantity Traded 5,000

Value Traded 4,820.00

Daily Summary (Equities) Symbol ACADEMY

Page

Symbol LEARNAFRCA UPL

No. of Deals 3 6 13

Current Price 1.25 6.03

Quantity Traded 58,235 48,000 111,235

Value Traded 69,299.65 269,781.00 343,900.65

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 2 2

Current Price 0.51

Quantity Traded 28,846 28,846

Value Traded 14,799.92 14,799.92

Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol AIRSERVICE NAHCO

No. of Deals 11 19 30

Current Price 2.08 5.50

Quantity Traded 79,391 2,211,430 2,290,821

Value Traded 165,201.38 12,122,778.66 12,287,980.04

Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals

Symbol CAVERTON

No. of Deals 7 7

Current Price 3.42

Quantity Traded 350,000 350,000

Value Traded 1,183,734.92 1,183,734.92

SERVICES Totals

Daily Summary as of 10/07/2015 PrintedEquity 10/07/2015 14:32:45.045 Activity Totals

4,176,531

15,476,279.19

3,007

475,012,719

3,943,469,016.46

3,007

475,012,719

3,943,469,016.46

Value Traded 5.95 100,000.00 100,005.95 of

No. of Deals 1 1

EQTY Board Totals

Value Traded 3,070.00 5 of 13 3,070.00

1,510,544.22

OIL AND GAS Totals

Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Value Traded

Current Price 0.95 1.10 0.50 0.50 0.50 0.50 0.50 0.51 2.75 0.50 0.67 0.50 0.50 0.50

OIL AND GAS Exploration and Production

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

Value Traded 1,567,321,395.95

No. of Deals 8 61 1 3 1 1 1 1 19 3 13 9 2 4 127

437,440

NATURAL RESOURCES Totals

Activity Summary on Board EQTY

Metals ALUMINIUM EXTRUSION IND. PLC. Metals Totals

Activity Summary Mining Services on Board EQTY

Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Daily Summary (Equities)

Value Traded 217,739.71 1,079,100.69 80,407.82 133,246.00 1,510,494.22

INDUSTRIAL GOODS Totals

Value Traded 1,197,883.24 571,814,576.91 584,849,192.29

Household Durables VITAFOAM NIG Activity Summary onPLC. Board EQTY

Quantity Traded 262,337 25,710 52,453 96,840 437,340

Daily Summary (Equities)

NATURAL RESOURCES Chemicals Daily Summary of 10/07/2015 Published by Theas Nigerian Stock Exchange © B.O.C. 14:32:45.045 GASES PLC. Printed 10/07/2015 Chemicals Totals

Quantity Traded 62,997 4,203,335 4,352,172

Food Products--Diversified Totals

Current Price 0.83 43.50 1.60 1.39

Activity Summary on Board EQTY

Current Price 19.00 136.51

Symbol CADBURY NESTLE

No. of Deals 10 10 9 7 (Equities) 36

Electronic and Electrical Products Daily Summary as ofPLC. 10/07/2015 CUTIX Printed 10/07/2015 14:32:45.045 Electronic and Electrical Products Totals

No. of Deals 13 134 183

Food Products--Diversified Printed 10/07/2015 14:32:45.045 CADBURY NIGERIA PLC. NESTLE NIGERIA PLC.

Value Traded 50.00 50.00

Symbol OMATEK

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC LAFARGE AFRICA PLC. Building Materials Totals

1,771,273,022.81

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

196,445,023 Quantity Traded 100 100

ICT Totals

Symbol INTBREW NB

Daily Summary as of 10/07/2015

Daily Summary

ICT

Value Traded 13,251.18 32,604,040.98 13,688,635.99 46,360,458.15

Value Traded 8,624,819.73 4,105,004.24 75,383,573.25 73,099,256.22 22,923.00 17,101,120.21 1,293,127.00 179,629,823.65

Current Price 0.50

Activity Summary on Board EQTY

Quantity Traded 14,097 12,978,387 342,099 13,375,583

Quantity Traded 3,130,125 1,009,000 9,477,432 25,203,664 45,846 684,411 939,946 40,490,424

No. of Deals 1 1

HEALTHCARE Totals

No. of Deals 5 5

CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC

Symbol EVANSMED GLAXOSMITH MAYBAKER NEIMETH

GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals

Symbol COSTAIN

Symbol UNIONDAC

Daily Summary as of 10/07/2015 Pharmaceuticals Printed 10/07/2015 EVANS14:32:45.045 MEDICAL PLC.

Current Price 2.70 4.07 7.98 2.91 0.50 25.01 1.37

1,723

HEALTHCARE Healthcare Providers UNION DIAGNOSTIC & CLINICAL SERVICES PLC Healthcare Providers Totals

Value Traded 54,530.00

Page

No. of Deals 58 6 318 44 2 23 62 513

FINANCIAL SERVICES Totals

AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals

FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC Daily Summary as of 10/07/2015 STERLING BANK PLC. Printed 10/07/2015 14:32:45.045 UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA PLC. Daily Summary as of BANK 10/07/2015 ZENITH INTERNATIONAL BANK PLC Printed 10/07/2015 14:32:45.045

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

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

Page

Symbol LOTUSHAL15 NEWGOLD VETGRIF30

No. of Deals 1 1 1 3

Current Price 10.32 2,229.00 14.50

Quantity Traded 10 51 10 71

Value Traded 103.20 113,679.00 145.00 113,927.20

ETF Board Totals

113,927.20

ETP Activity Totals

113,927.20

Photo | News

NEW TELEGRAPH MONDAY, JULY 13, 2015

A cross-section of participants at the strategic workshop on financing for development of West African Civil Society Organisations in Abuja. PHOTO: NAN

Chairman, Chi Limited, Mr. C.G. Vink (left), with President/CEO, Tetra Pak, Mr. Dennis Jonsson, during a joint initiative between Chi Limited and Tetra Pak to fight child malnutrition in Nigeria held in Lagos.

L-R: Adviser, Al-Aqeedat Model College, Alhaji Oladugba Abdul Azeez; Proprietor, Ustaz Salaudeen Sulaiman; Vice-Chairman, Parent Teachers Association (PTA), Alhaji Idris Motolani and Vice-Principal (Administration), Mr. Salau Saheed, at the school’s valedictory service in Ajah, Lagos.

L-R: Anglican Bishop of Awka, Rt. Rev. Dr. Alexander Ibezim; Obi of Onitsha, Igwe Nnaemeka Achebe; Anambra State Governor, Chief Willie Obiano; Catholic Bishop of Awka, Most Rev. Paulinus Ezeokafor and President-General, AMATAS, Chief Okwudili Ezenwankwo, after a meeting with a delegation from the Presidency on the controversial transfer of Boko Haram inmates to Ekwulobia prisons.

L-R: Liha of Ajeromi Ifelodun Local Government, Chief Adeyemi Oyetola; Jagunmolu of Awodiora Town, Chief Dada Onijomo; member, Federal House of Representatives, Hon. Rita Odichinma Orji and Obasuyi of Edo State, Chief Anthony Aisewomhion, during the Ajeromi Ifelodun Local Government Town’s meeting, in Lagos. PHOTO: TONY EGUAYE

NUJ presidential candidate, Alhaji Abduwaheed Odusile (right), during his campaign at the Oyo State NUJ Council, in Ibadan.

PHOTO: SULEIMAN HUSAINI

FRSC Medical team carrying out free medical services for Petroleum Tanker Drivers, in Onitsha, Anambra. PHOTO: NAN

L-R: Africa Regional Coordinator, Global Call to Action Against Poverty, Kyerewa Sekpey; Executive Director, Nigeria Network of NGOs, Oyebisi Oluseyi and Acting General-Secretary, West African Civil Society Forum, Auwal Musa, during a workshop on financing for development of West African Civil Society Organisation in Abuja.

News

Adeolu Adeyemo Osogbo

he seven-weekold strike action embarked upon by the Osun State workers’ over the non-payment of their salaries by the Governor Rauf Aregbesola administration may be called off today as temporary agreement is said to have been reached between the government and the labour union in the state. Sources at a meeting held between the Chief of Staff to the governor, Alhaji Gboyega Oyetola and the labour leaders under the leadership of Comrade Jacob Adekomi, at the weekend in

SOUTH-WEST

MONDAY,JULY 13, 2015 NEW TELEGRAPH

No bank alert, no resumption, Osun workers insist Osogbo, told NewTelegraph, that the government appealed to the workers to call off the strike while the labour leaders reportedly insisted that, ‘no bank alert, no resumption’ of work. The outcome of the meeting was said to have been deadlocked, as the government request was based on conditionality while the leadership of the union reportedly insisted that alert of salaries

payment on handsets of workers by banks, would determine when the strike would be called off. It was further learnt that the workers told the government that if the workers receive payment alert on their hansets today, they will call off the strike, while the workers would resume tomorrow and if otherwise, the strike will continue. It would be recalled that, some traditional

rulers in the state who were in attendance during the meeting also pleaded with the workers to call off the strike. Their spokesperson, Akinrun of Ikirun, Oba AbdulRauf Olawale Adedeji, said, “One does not need to look at the crystal ball to know that the Aregbesola administration has in the last four years been busyturning the state around in all ramifications.’’ They stated that

government ran into troubled waters, owing to the national financial crisis the whole nation was struggling to wriggle out of. They therefore warned that the current situation should not be politicised by those who were seeking to capitalise on the situation to score political points. The monarchs equally appealed to the government to intensify its effort towards resolving the problems.

Afe Babalola chairs UI VC’s race interactive forum Sola Adeyemo Ibadan

egal luminary and founder of the Afe Babalola University, Ado-Ekiti (ABUAD), Chief Afe Babalola (SAN), will today chair the community interactive session organized for the 13 Vice-Chancellorship aspirants of the University of Ibadan, to showcase their manifestoes ahead of taking over from the incumbent, Professor Isaac Adewole. The programme which was organized by the staff unions on the campus: (ASUU, NASU, SSANU and NAAT) under the chairmanship of Professor Nelson Fashina, will also have Mr. Femi Falana (SAN) as the moderator at the forum. Aspirants for the position include: Professors Dele Layiwola (Institute of African Studies), Akinyinka Omigbodun (Pediatrics), Francis Egbokhare (Linguistics and African Languages), Arinola Sanya (Physiotherapy), Kunle Fagbemi (Veterinary Microbiology and Parasitology). Others are: Professors Labode Popoola (Forest Resources Management), Abel Olayinka (Geology), Ayodeji Oluleye (Industrial and Production Engineering), Olufemi David Olaleye (Virology), Augustine Falaye (Aquaculture and Fisheries Management), Adigun Agbaje (Political Science), and Abdullahi Adedeji Civil Engineering, University of Ilorin. The tenure of the incumbent, Professor Adewole, ends in November this year, having put in meritorious services in his five-year term.”

Osun State Governor, Rauf Aregbesola, with APC chieftain, Senator Bayo Salami, during the inspection of elementary school named after the former Military Administrator, Antony Udofia, in Osogbo…at the weekend.

PDP accuses APC of shielding Fayemi from prosecution lAllegation false, says opposition party

Adesina Wahab Ado-Ekiti

he Ekiti State chapter of the Peoples Democratic Party (PDP), has accused the leadership of the All Progressives Congress (APC) of shielding the former Governor Kayode Fayemi, from prosecution by the Economic and Financial Crimes Commission (EFCC), over his stewardship in office in the state.

The State Publicity Secretary of the PDP, Mr Jackson Adebayo, made this assertion in a statement he made available to journalists in Ado-Ekiti yesterday. Adebayo alleged that some APC leaders were planning to approach President Muhammadu Buhari, through some influential people from the North in a desperate attempt to shield Fayemi, from inevitable arrest and prosecution by the EFCC because of the magnitude

of the petitions before it and the veracity of the issues raised through the investigations by the Special Fraud Unit of the Nigeria Police. PDP, however, noted that the body language of the President, had not suggested that he was in tune with those who had approached him as the SFU of the Nigeria Police was at advanced stage of handling over their findings to the EFCC, for possible prosecution.

Meanwhile, the has dismissed the allegation as untrue, stating that it has always called on the Federal Government and EFCC to prosecute Fayemi , if there were evidences. Stating its position, the APC State Publicity Secretary, Taiwo Olatunbosun, said Fayemi had always made himself available for probe if need be, saying “Fayemi is in the country. It is not as if he traveled out of the country. Why is the PDP just waking up with these accusations? They should stop these distractions”.

Ondo community, kingmakers reject monarch contestant Babatope Okeowo Akure

esidents of Akungba-Akoko in Akoko South-West Local Government Area of Ondo State, have kicked against the planned imposition of Prince Isiaka Oseni, as the monarch of the town. The Alale of Akungba

akoko’s stool had been vacant since 2004, following the death of Oba Adekanye Omosowon, while the stool is presently being occupied by a Regent, Princess Oluwatoyin Omosowon, who was kidnapped and released last month. The protest of the residents, followed a declaration by Oseni, a contestant

for the vacant stool of the Alale of Akungba–Akoko, that the kingmakers had approved his nomination and selection as the next monarch of the town. Already, the Regent, Princess Toyin Omosowon, had told the kingmakers in the town to commence the process of selecting a new traditional ruler for the town. The Re-

gent said she was tired of the throne and would want to return to her private life. Aside the resident who trooped out to reject the purported endorsement of Oseni, traditional kingmakers in the town also said they have not endorsed Prince saying it was Prince Sunday Adeyeye that was unanimously selected by them.

Fayemi to deliver 3rd President Atta Mills’ memorial lecture

he immediate past Governor of Ekiti State, Dr Kayode Fayemi, will be the Speaker at this year’s President John Evans Atta Mills’ Memorial lecture in Accra, Ghana, scheduled for 21, July. Fayemi will be speaking on the theme: “Intellectuals in Politics and Governance in Africa: The Legacies of John Atta Mills”, at the annual national event dedicated to the memory of the late President of the Republic of Ghana, who died in July 24, 2012. A letter from the office of the President notifying Fayemi, of the lecture reads: “ Your impressive credentials as an academic, journalist and researcher on peace and security in Africa makes you a worthy choice for the occasion. Your presence and participation in this national event will further enhance the historical bonds of friendship and solidarity between Ghana and Nigeria.” The letter was signed by Julius Debrah, Chief of Staff to President John Dramani Mahama, on behalf of the planning committee.

APC will recapture Ekiti in 2018 – Ex-speaker Adesina Wahab Ado-Ekiti

ormer Speaker of the Ekiti State House of Assembly, Hon. Femi Bamisile, has expressed optimism that the All Progressives Congress (APC), will recapture the state from the Peoples Democratic Party (PDP) in the next governorship election in 2018. He stated this in Ado-Ekiti, at the weekend while meeting with the APC leaders from across the 16 local governments of the state. Bamisile who hopes to be the candidate of the APC in the election, said the defeat of the APC candidates in last year’s gover norship poll, Dr Kayode Fayemi, was only a temporary setback. While expressing optimism in the ability of the APC to win the poll, Bamisile, appealed to all groups in the APC to come together and rebuild the party.

NEW TELEGRAPH MONDAY,JULY 13, 2015

News 47

SOUTH-EAST

Ekweremadu: S'East students caution presidency, APC Uchenna Inya ABAKALIKI

he leadership of the National Association of South-East Nigerian students (NASENS), yesterday called on the Federal Government and the All Progressives Congress

(APC), to exercise caution over the threat and intimidation against the Deputy Senate President, Ike Ekweremadu, saying it views such action as undemocratic. In a statement signed by the National President Nweli Hilary, after an emergency meeting of the executives in Abakaliki, the body said, ‘‘the entire stu-

dents of the south east extraction urge all and sundry to withdraw every form of threat or accusations against Senator Ekweremadu as we can no longer tolerate any form of threat from any quarter be it the presidency, political party, individual, group and all that are involved’’. The students who

condemned what they called recent threat and accusations against the Deputy Senate President, urged all those concerned in the act to leave Ekweremadu, alone in the interest of oneness and peace of the country. ‘’We further want to make it clear to the general public and the entire world without fear

or favour that Senator Ike Ekweremadu, was duly elected as the Deputy Senate President of the 8th Assembly under the standing order and rules of the National Assembly and provisions of the constitution of the Federal Republic of Nigeria and according to the rule of law. ‘’ The rule of law must be respected in the in-

terest of justice, equity, fairness and unity of our nation. Therefore any form of threat and accusations against Ekweremadu, from any quarter will not be condoned. ‘’Rule of law, separation of powers and the independence of each of the three arms of the government l must be respected’’, the students submitted.

Nkire to contest for Secretary APC BOT A

L-R: Mrs. Omobolanle Osotule; Abia State Governor, Dr. Okezie Ikpeazu and Managing Director, Keystone Bank, Mr. Philip Ikeazu, during the inauguration of a library block built by Keystone Bank at Isieke community in Umuahia North…at the weekend.

Otti dispels claim of withdrawal from tribunal Igbeaku Orji Umuahia

he governorship candidate of the All Progressives Grand Alliance (APGA) in the general election in Abia State, Dr. Alex Otti, has described as false the rumour that he was negotiating with his opponent in the election toward an agreement to withdraw his petition from the tribunal. Otti stated in a statement issued in Umuahia and made available to newsmen yesterday, that though different emissaries from his opponent’s camp had continued to approach and mount pressure on him for a truce but that he has insisted that he wants to continue with his petition at the tribunal. ‘’The rumour is baseless, blatant falsehood and the wishful thinking of idle political jobbers and rumour peddlers, in their deliberate attempt to cause mischief and deceive unsuspecting members of the public.

‘’Rather than betray the trust of the electorate, I am more emboldened and resolute to explore all the legal means possible to reclaim the stolen mandate in order to be able to fulfill my campaign promises to the people,’’ Otti said. The former Managing Director/Chief Executive Officer of Diamond Bank, therefore, urged all the party faithful and his teeming supporters to disregard the rumour and remain steadfast in

their prayers, even as he assured that he had the capacity to realise the mandate. He expressed implicit confidence in the ability of the tribunal to deliver justice in his favour, in view of the overwhelming evidence in support of his petition,restating his resolve to leave no stone unturned in the struggle to liberate the state from the hands of the same cabal that plundered its fortunes in the past 16 years.

overnor Ifeanyi Ugwuanyi of Enugu State, at the weekend inaugurated an 11 man Nsukka Urban Renewal Committee to produce a blue print for the development of the university town of Nsukka into a modern urban town. The governor who also played host to eminent leaders of the state under the umbrella of the Enugu State Development Association (ESDA), declared that his administration would work in conjunction

with major stakeholders in the state not just to ensure the sustainable development of the state but that such synergy would also continue to push for the equality of all geopolitical zones in the country through the creation of the new state in the South East zone. Ugwuanyi performed the inauguration of the committee for the modernization of Nsukka urban town in the Government House, Enugu,

Ebonyi approves N4bn loan for education Uchenna Inya

attacked by unknown gunmen at Mgbanaocha Nkerefi, saying they were left with machete cuts. He described the killings as unfortunate and said that the police would work hard to establish the motive and bring the perpetrators to book. The spokesman said the police had mounted increased surveillance in the area to avert any breach of the peace.

gressive Peoples Alliance (PPA) added, “as a former party administrator, who enjoyed the loyalty of governors and legislators at both national and state assemblies, I will not want to be part of any problem but solution to problems that might arise in the party.” Nkire who said he was in the race to win, added that his only driving force was the zeal to lend his experience as an administrator and crisis manager to the party. The Abia State born politician however was of the opinion that no political party could survive in this modern age, without consensus and internal democracy.

Ugwuanyi inaugurates 11-man urban renewal committee

Police begin investigation in murder of traditional ruler, others he police in Enugu have launched investigation into the murder of the traditional ruler of Nkerefi in Nkanu East local government, Igwe P.A. Onuoha. A statement from the spokesman of the Enugu State Police Command, Mr. Ebere Amaraizu, said that the traditional ruler was killed with three others in the early hours of Saturday. Amaraizu said deceased persons were

s the All Progressives Cong ress (APC) plans the inauguration of its Board of Trustees (BOT), a prominent member of the board, Chief Sam Nkire, has declared his intention to contest for the position of the Secretary to the board. Speaking to newsmen in Abuja at the weekend, Chief Nkire, said all he was bringing to the office is his quality to serve to the party and the nation in general, stating that he was convinced he was most suited for the job, even though as his ambition was not a “do or die affair”. The former National Chairman of the Pro-

ABAKALIKI

bonyi State Executive Council has approved N4 billion loan to enable the state pay counterpart fund in the Universal Basic Education at the Federal level. Briefing newsmen after the State Executive Council meeting, the Commissioner for Information and State Orientation, Dr. Emmanuel Onwe, said the borrowing became necessary in view of the urgent attention and intervention in

the education sector of the state. He noted that the present government was committed to ensuring affordable and qualitative education for the people of the state. Onwe also noted that the Council agreed to review downward the entitlements of cabinet members, including the Governor and his Deputy, as well as other appointees until workers in the state were all paid, maintaining that the welfare of workers was the priority of the present government.

as the members made up of eminent citizens of the state and officials of government and headed by a renowned architect, Chief Chris Offor, pledged to work to justify the confidence reposed in them. Governor Ugwuanyi, charged the committee members to approach their duties with zeal and every sense of urgency, diligence and selflessness. He called on them to take every bit of the 5-points terms of reference seriously. The mandate of the committee include; to identify factors responsible for the slow pace of development of the Nsukka Urban and to develop Nsukka master plan or modify the existing one if and where necessary. Others are; to identify structures / building erected without town planning approval or that constitute nuisance and may obstruct the Nsukka Urban renewal plan just as they are also to identify new satellite areas to be developed as part of Nsukka, among others. The governor recalled that in his inaugural address of May 29, 2015, he had made it clear that he would want to develop and equip new urban areas and that it was.

News

LG crisis: Rivers police warn against public protest Wale Elegbede

he Rivers State Police Command has warned residents of the state to be cautious of plans by some by unknown individuals to hold a protest march today in Port Harcourt Metropolis and other locations in the state. The protest, it said, is against the recent Federal High Court Judgment nullifying the election of the Chairmen of 22 local government areas and the swearing-in of Care-Taker Committees in their stead.

MONDAY,JULY 13, 2015 NEW TELEGRAPH

SOUTH-SOUTH

In a statement issued yesterday and signed by Deputy Commissioner of Police, Austin Agbonlahor, the command said it has credible intelligence that the protesters will be countered by another group, a development that could lead to confrontation with unpleasant consequences. The command said the protest marches are meant to register perceived grievances over the Court’s pronouncement and subsequent action of the State Government. “We are in a democracy,

where the Rule of Law and the Right to protest are legitimate rights and aspirations. However, these rights stop where those of the other person begins. “We acknowledge that anyone can hold a legitimate and peaceful protest; it is also fair to admit that the protest planners would not be able to control the process as pro and anti-forces, including hoodlums could hijack it and turn the State into a theatre of violence.” While advising all aggrieved persons to sheath their swords and toe the

path of honour by resorting to legal means to seek redress and justice, the Rivers Police Command urged parents to warn their children and wards not to be used to foment trouble or engage in acts capable of disrupting public peace. “Rivers State has experienced violence and disruptions to socio-economic life caused apparently by differences in political views. These have created tension and palpable fear in the minds of the people. Elders, Community leaders, Chieftains of political parties and indeed all stakeholders should be wary of instigating, supporting or financing violent acts in society, but should work harmoniously and tread the path of peace.”

Crisis rocks Edo PDP as members call for chairman’s removal Cajetan Mmuta BENIN

nother round of crisis may have engulfed members of the Edo State chapter of the Peoples Democratic Party (PDP) as the party leadership in the north senatorial district, led by the former House of Representatives member for Owan Federal Constituency, Mr. Johnson Abolagba, at the weekend, called for the immediate dissolution of the state executive of the party led by Chief Dan Orbih and other executives in the 18 local government areas. The opposition camp is

of the view that the current executive of the party in the state has failed to win any election in the last six years. They harped on the need for the party’s stakeholders in the state to elect a new leadership of the party at all levels. The measure, according to the group, is to ensure that the party is refocused ahead of the 2016 governorship election. Members of the party opposed to Orbih’s leadership bared their mind in a letter addressed to the national leadership of the party signed by Abolagba, S. S. Mayaki and 18 others drawn from across the six local government councils in the Edo North.

Wike seeks more French support in Boko Haram fight Emmanuel Masha Port Harcourt

ivers State Governor, Nyesom Wike, has urged the French government to increase its support in the fight against the Boko Haram insurgency in order to make the nation safer for local and international business activities. He urged the French government to see the insurgency as a serious threat not only to Nigeria, but also a global threat

L- R: Area Sales Manager, Mortein, Rivers State, Mr. Nwanah Ugochukwu; Secretary, Lighthouse Settlement, Finima community, Bonny Island, Mr. Emmanuel Awayiniwa and Representative, Lead Consultant, Obikiki Health Consultancy Services, Rivers State, Mr. Maxwell Samson, during the Mortein Anti-Malaria Community Sensitisation Campaign in Bonny Local Government Area, Rivers State.

Bayelsa condoles with families of pipeline explosion victims Chris Ejim Yenagoa

he Bayelsa State government at the weekend expressed regrets over last Thursday’s pipeline explosion that claimed the lives of thirteen people along the Clough Creek-Tebidaba oil pipeline operated by the Nigerian Agip Oil Company Limited at Azuzuama in Southern Ijaw Local Government Area of the state. The state government

in a statement issued yesterday by the Commissioner for Information and Orientation, Esueme Dan Kikile, confirmed that the incident resulted in the death of thirteen persons, including an Assistant Chief Scientific Officer with the Bayelsa State Ministry of Environment, who was part of the joint investigation team (JIT) that went to inspect the spill site and to monitor the management of the spill. According to the statement, “At least two persons rescued from the scene of

the incident are receiving treatment for severe burns. Government uses this opportunity to condole with the families of the deceased on this tragic loss. Government also sympathises with the injured persons and affected communities, and assures them of adequate support towards the treatment and recovery of the injured. Meanwhile, a group known as the Niger Delta Renaissance Movement (NDRM) at the weekend sent a warning letter to President Muhammudu Buhari over rising attacks

and explosion of pipelines and facilities owned by the Nigerian Agip Oil Company (NAOC) in Rivers State. The group alleged that such explosions are suspicious and should be investigated. It said reports from the preliminary investigation conducted, showed that the multiple explosions at the multi-million naira Nigeria Agip Oil Company (NAOC) oil facility at Ebeocha oil field in Ogba/Egbema/ Ndoni Local Council of Rivers State is suspicious and should be condemned in strong terms.

Edo chief urges new approach to curbing human trafficking Cajetan Mmuta BENIN

he chief priest of ancient Benin Kingdom, Chief Nosakhare Isehkure, yesterday called for unhindered collaboration among European countries towards assisting victims of girl-child trafficking and to train them in various vocational skills rather than repatriating

them to their home countries. Ishekure stated this while fielding questions during a fact-finding mission by a Norwegian researcher and freelance journalist, Ida Eri Sorbye, who visited him in Benin, the Edo State capital. He said from origin, trafficking in girls from the ancient kingdom was and is still considered an abomi-

nable act to the culture and tradition of the Binis. The chief priest noted that the ugly trend had its impact in the early 70’s and 80’s when some ‘mafia’ stormed the kingdom with their Nigeria collaborators to lure girls abroad in the guise of securing juicy jobs only to be forced into prostitution. Itsekure regretted that

the economic challenges facing the country, coupled with the growing rate of unemployment, was a factor driving young people to seek greener pastures in other countries of the world, but urged governments at all levels to help reduce the problem of rural-urban migration through development programmes in the rural areas.

that deserved more efforts at tackling it. The governor made the appeal to the French Consul-General in the French Consulate in Lagos, Ambassador Marcel Encure, during the French National Day in Port Harcourt. “Terrorism is now a global phenomenon. That is why we call on France to continue to support the fight against Boko Haram,” he said, noting that his administration has taken steps to improve security in the state.

Ex-MEND leaders seek solution to insecurity, others Chris Ejim

Yenagoa

undreds of former members of the militia group, the Movement for the Emancipation of the Niger Delta (MEND) at the weekend, reviewed the activities of the one-month-old administration of President Muhammudu Buhari, declaring that the administration should speed up its activities and formulate policies that will tackle rising insecurity and the economic challenges

of the country. Former senior members of MEND, who met in Yenagoa, under the auspices of the Leadership, Peace and Cultural Development Initiative (LPCDI) said though the ex-militant leaders condemned the spate of attacks in Plateau, Kano, Kaduna and Borno States, where scores of innocent persons were killed by the Boko Haram sect, the slow pace of the present administration in tackling the economy and the security challenges, is worrisome.

PUBLIC NOTICE BAPTIST GIRLS HIGH SCHOOL AGBOR, OLD GIRLS’ ASSOCIATION, LAGOS BRANCH This is to inform the general public that the above named ASSOCIATION has applied to the Corporate Affairs Commission for incorporation under part “C” of the Companies and Allied Matters Act, 1990. THE TRUSTEES ARE: 1. OKPARAJI BRIDGET IMADE 2. USIHOLO JOSEPHINE OIYOKUN 3. AZUARA AMENAGHAWON BLESSING 4. GERADINE EWERE EGBE 5. LATICIA OGENE OPUTA AIMS AND OBJECTIVES: 1. To promote peace, unity and love among members. 2. To care for members welfare. 3. To protect the interest of the members. 4 . To provide peaceful co-existence among its members Any objection to the incorporation of the above ministry should be forwarded to the Registrar-General, Corporate Affairs Commission, 420, Tigris Crescent, Off Aguiyi Ironsi Street,P.M.B 198, Maitama, , Abuja, within 28 days of this publication. Signed: TRUSTEES

NEW TELEGRAPH MONDAY,JULY 13, 2015

News 49

NORTH

One dies, others injured as groups clash in Niger Dan Atori MINNA

t least one person was confirmed dead and others injured while property worth millions of naira were destroyed as youths of Hausa extraction and their Gwari counterparts engaged in war of supremacy in Paiko, Paikoro Local Government Council of Niger State at the weekend. In view of the violence, the Niger State government has declared a curfew in the town from 10.00pm to 4.00am until further notice.

This according to the Chief Press Secretary to the Governor, Ibraheem Dooba, in a statement is to keep the peace. “The people are advised not to violate the curfew; anybody who does, would face appropriate consequences for such infraction. “The government encourages the citizens to be law abiding, eschew violence and demonstrate the abiding peace for which Niger State is renowned,” he said. Meanwhile, in Minna, the state capital, property worth millions of naira were destroyed when two

religious sects laid claim to a mosque said to have been built several years back at Angwan Daji area of the state capital. The fighting in Paiko was said to be the aftermath of the battle over the appointment of the Deputy Imam of Paiko Central Mosque, which had earlier led to a protest by a group representing the Gwari community. Eyewitness account said one of the Hausa boys had threatened to deal with the Gwaris by making life a living hell for the Gwari community should they (Gwaris) dare question who controls the

mosque. The source also said that the Hausa community that were considered less in numerical strength, would solicit for support from their kinsmen in Minna, who would invade Paiko town to revenge the attacks on their fellow Hausas. Threats to cause disaffection among the tribes, according to the eyewitness, was said to have infuriated some Gwari youths, who mobilised their gangs and confronted the Hausa community and in the ensued crisis one of the boys lost his life while several others sustained varying degrees of injuries.

L-R: Zonal Business Manager, North West Zone, Airtel Nigeria, Thankgod Otorkpa; Head CSR, Chinda Manjor and Deputy Team Leader/ Health Coordinator, Millennium Villages Project, Dr. Eyitayo Ojo, during a press conference on the Airtel partnership with Millennium Villages Project in Kaduna…at the weekend.

In Minna, trouble started when Derilca and Izala Islamic sects, continued to lay claim to the control of a mosque said to have been built by a member of one of the sects. Investigations however, showed that the mosque was built by a member of the Derilca group, who was

Ahmed: Bail-out opportunity to review IGR strategies Biodun Oyeleye Ilorin

wara State governor, Alhaji AbdulFattah Ahmed, at the weekend, said the recent bail-out by the Federal Government to all tiers of government for the offsetting of outstanding salaries of workers, though an interim measure, would give the states opportunity to work out new modalities of improving their revenue base. The governor noted that with improved Internally Generated Revenue (IGR), states will depend less on the Federation Account allocations to meet their financial obligations, especially payment of workers’ salaries. Ahmed, who made this observation in Ilorin, also described the bail-out and the decision of President Muhammadu Buhari and Vice-President Yemi Osinbajo to slash their salaries

NULGE lauds El-Rufai for abolishing joint account

Suswam’s radio to go off air

Ibraheem Musa

Cephas Iorhemen

Kaduna

he Nigeria Union of Local Government Employees (NULGE), at the weekend, commended Governor Nasir El-Rufai of Kaduna State for abolishing state and local government joint account, describing it as a noble and healthy development. In a statement issued by NULGE President, Comrade Ibrahim Khaleed, the union said it has always been against the operation of joint account because it is fraudulent and unconstitutional. According to him, El-Rufai’s decision is in tandem with President Muhammadu Buhari’s promise in his inaugural speech to look into the issue of local government funding. Khaleed also called on other state governments to emulate El-Rufai and create an enabling environment for local government to operate and live up to their billings as the

and transmitting on 99.9 MHz on the Frequency Modulated Band (FM), are threatening to shut down the station for non-payment of what they called their eight months salaries. A me mber of staff of the radio station, who did not want his name in print, confided in New Telegraph that the problem started since January last year when its management decided to slash down staff salaries by 30 percent, adding that those who were not able to bear the situation, have since left.

“Our problem started since January last year, when the management decided to cut down our salaries by 30 percent and as I speak with you now, some of the staff who were not able to cope with that trend have since left the place, leaving a few others who have no option.” The management is not even ready to listen to anyone, and when we complain, they said even teachers in the state have not been paid, so we should bear it with them,” said one of the angry staff.

Lawmaker raises the alarm over state of hospital

position in catering for the people of northern zone, including military men operating in the zone. Abubakar, who is the assembly’s House Committee Chairman on Appropriation, also lauded the Muhammadu Buhari administration for approving bail-out to states and urged states in the country to ensure judicious use of the money for the purpose intended.

third tier of government. He assured the people that the union would partner with the state government to ensure that the new financial autonomy granted to the local government achieves its goals of grassroots development and rural transformation. “In line with this, the national secretariat of the union would introduce a machinery to monitor all the 23 local government areas of the state to help the state government check excesses and abuses by the local government administrators.”

Ibrahim Abdul Yola

he member representing Mubi South in the Adamawa State House of Assembly, Hon. Abubakar Abdulrahman, has raised the alarm over what he described as pathetic state of Mubi General Hospital.

Makurdi

here were indications at the weekend that staff of the Katsina Ala-based radio station, Ashi Waves, owned by the for mer gover nor of Benue State, Gabriel Suswam, may shut down the broadcast station in protest against non-payment of their salaries. New Telegraph gathered that the radio station, located on Kilometre 2, Zaki-Biam Road

Abdulrahman, who spoke with newsmen in Yola, said the hospital, which was vandalised by insurgents, was in dare need of support to enable it service the people of that zone, comprising of five local government areas. “What we have now in Mubi General Hospital is one doctor and few other personnel.

“I have tabled the matter before the assembly under Matter of Urgent Public Importance for necessary action,” Abdulrahman said. The APC lawmaker lauded the recent visit to the hospital of the state Deputy Governor to assess the situation, adding that something urgently needed to be done in view of the hospital’s unique

said to have died few years back. One of the sons of the deceased, who later became a member of the Izala group, is now laying claim to the mosque and had insisted that the Derilca group joined his group or stop forthwith the use of the mosque for their prayers.

by 50 per cent as proactive reactions to the sensibilities of Nigerians and the prevailing economic challenges in the country. He added that the measures were testimonies that the All Progressives Congress’ change mantra will usher and entrench new values of responsive governance, financial prudence and economic revitalisation in the country. He, however, said his administration was addressing the effects of the continuous shortfalls in federation accounts allocation to the state through improved IGR as the recently established Kwara State Internal Revenue Service was set up to identify and block loopholes in tax collection mechanism in the state. He assured the people that the new measures were not imposition of new tax regimes or a burden on them, but a correction of the shortcomings in tax collections in order to boost the state’s revenue base.

Shettima lauds repentance by 16 insurgents

orno State governor, Kashim Shettima, at the weekend, lauded the repentance by 16 Boko Haram insurgents in Borno State, saying the attempt by the insurgents to renounce their murderous ideology is a proof that an amnesty programme targeted at creating exit window for forcefully conscripted members, is capable of reducing the number of the insurgents. Shettima spoke through his Special Adviser on Communications and Strategy, Malam Isa Gusau, at an interactive session with journalists in Abuja. Gusau said Shettima’s call for amnesty for the insurgents on his inauguration on May 29 was scientific and has been vindicated by a very desperate effort by Boko Haram leaders to stop their fighters from leaving their fold when a group of 16 members renounced the sect’s ideology.

50 WORLD | News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Iran nuclear talks enter â&#x20AC;&#x2DC;final phase'

alks between world powers and Iran on a historic nuclear deal entered yesterday what France described as the "final phase", but Washington warned major issues must still be overcome. Hopes grew that a breakthrough might finally be in sight after a flurry of diplomatic activity ahead of the latest deadline on Monday for an agreement. "I hope we are finally entering the final phase of these marathon negotiations. I believe it," French Foreign Minister Laurent Fabius told reporters as he returned to Vienna on the haggle's 16th

day.

The talks seek to nail down a deal curbing Iran's nuclear activities to make it extremely difficult for Tehran which denies any such goal to develop the atomic bomb. In return Iran will be granted staggered relief from painful sanctions, although the six powers insist on the option of reimposing the restrictions if Tehran breaches the deal. Despite the air of optimism in the Austrian capital, US and Iranian officials dampened speculation that an agreement was imminent. "We have never speculated about the timing of anything during these ne-

gotiations, and we're certainly not going to start now especially given the fact that major issues remain to be resolved in these talks," a senior US State Department official said. Iranian diplomat Alireza Miryousefi, writing on Twitter, quoted a senior official from Tehran as saying a deal by yesterday night was "logistically impossible" as the agreement being drawn up spanned 100 pages. Earlier, US Secretary of State John Kerry, who has been embroiled in talks with his Iranian counterpart Mohammad Javad Zarif in Vienna since June 27, was cautiously upbeat.

"I think we're getting to some real decisions. So I will say, because we have a few tough things to do, I remain hopeful. Hopeful," Kerry said, calling his latest meeting with Zarif "positive". EU foreign policy chief Federica Mogherini who chairs the P5+1 group the US, Russia, China, Britain, France and Germany negotiating with Iran said on Twitter that these were the "decisive hours". And a diplomatic source said Saturday as a flurry of bilateral and multilateral meetings

Tanzania's ruling party picks Works Minister for presidential race

US Secretary of State John Kerry (3rd left) during Iran nuclear talks with the Iranian Foreign Minister in Vienna.

Egyptian lawyers protest colleague's shooting at courthouse

embers of Egypt's lawyers union say it has suspended work in Cairo's Nasr City criminal court to protest a police officer shooting a lawyer there. A security official says that the accused officer shot the lawyer in the chest after mistaking him for a fleeing suspect Saturday.

The official says the shooting came after lawyer, Mohamed el-Gaml, was seen arguing with prosecutors and police officers at the courthouse. The official, speaking yesterday on condition of anonymity because he was not authorized to speak to journalists, says the lawyer

is hospitalized in intensive care. The officer has been detained pending an investigation. Lawyer Khaled Abu Kirsha disputed the official's account and said his colleague should not have been shot. Lawyers in a Nile Delta court also have suspended their work.

Greece debt crisis: EU summit cancelled as talks continue

summit of all European Union members planned for yesterday has been cancelled as "very difficult" talks over a third bailout deal for Greece continue. Eurozone finance ministers resumed talks that began Saturday afternoon. Leaders of the Eurogroup countries are now gathering in Brussels. European Council president Donald Tusk said the meeting would "last until we conclude talks on Greece". Without a deal, it is feared Greece could crash out of the euro. Arriving for the meeting, Greece's PM Alexis Tsipras said he was looking for an "honest compromise".

"We can reach an agreement tonight if all parties want it." Eurogroup leader Jeroen Dijsselbloem has described the negotiations as "very difficult". "We have had an in-depth discussion of the Greek proposals, the issue of credibility and trust was discussed and also of course financial issues involved," Mr Dijsselbloem told reporters after Saturday's talks ended. "It is still very difficult but work is in progress." The ministers have reportedly discussed in detail the option of easing Greece's debt burden as long as Athens enacts legislation immediately to reform taxation, pensions and administration. There

will be no write-down of debt. But the talks remain complex and European Commission Vice President Valdis Dombrovskis said it was "utterly unlikely" a mandate would be achieved in that yesterday's meeting to start formal negotiations on the third bailout. Slovakian Finance Minister Peter Kazimir was similarly downbeat, saying: "It's not possible to reach a deal today. We can agree on certain recommendations for the heads of state. That's all. The breach of trust... it's so big, it's not possible to achieve the deal." And a draft statement from finance ministers, seen by Reuters, suggests a breakthrough yesterday is unlikely.

went deep into the night that "98 percent of the text is finished". Russian Foreign Minister Sergei Lavrov flew to join the talks in Vienna, his ministry said. British Foreign Secretary Philip Hammond, however, left the talks yesterday but was expected to return the next morning. Under the parameters of a framework deal reached in Lausanne in April, Iran is to slash the number of its centrifuges from more than 19,000 to just over 6,000 and sharply cut its stocks of enriched uranium.

anzania's ruling party yesterday named Works Minister John Magufuli as its candidate for this year's presidential race, a move that means he will most likely become the next president of the east African nation. The Chama Cha Mapinduzi (CCM) party has ruled Tanzania for five decades and its candidate is widely expected to win the Oct. 25 election, taking over from President Jakaya Kikwete, who has served a maximum two terms. The announcement followed a divisive party vote on a short list that had omitted Edward Lowassa, 61, a former prime minister who had been seen as leading the field. He resigned as premier in 2008 over corruption allegations in the energy sector, which he denies. From a final list of three,

Magufuli, 55, beat two female contenders: former senior U.N. official Asha-Rose Migiro and African Union ambassador to the United States Amina Salum Ali. "The result of voting from this conference is John Magufuli (87 percent), Ambassador Amina Ali (10 percent) and Dr. Asha Migiro (3 percent)," CCM said via Twitter, ahead of a formal declaration by the party. Party officials did not say why Lowassa had been left off a short list, that initially included five, that had been whittled down from 38 hopefuls by CCM's central committee, chaired by the president. Tanzania has been one of Africa's most politically stable nations and has not been torn by the debate raging in parts of the continent, where some presidents have been eying third terms despite constitutional restrictions.

Syria civil war: Bomb damages Aleppo's ancient citadel

bomb explosion has caused part of the walls of Aleppo's ancient citadel to collapse. Built in the 13th Century, it overlooks Aleppo's Old City and is part of a UNlisted World Heritage site. Syrian government forces have been using the citadel as a military position. Government and rebel forces have been fighting for control of the city for over three years. It is not known which side caused the explosion. Fighting on the ground and government air strikes have left

thousands dead, and destroyed more than 60% of the Old City. The Syrian Observatory for Human Rights, a UK-based monitoring group, said the explosion occurred in the early hours of Sunday morning. "The blast caused the collapse of part of the wall of the citadel," the organisation's chief, Rami Abdel Rahman, told AFP news agency. The government says that rebel fighters set off a bomb in a tunnel beneath the citadel. The use of tunnel bombs has become a common rebel tactic.

Iraq gets first funding to rebuild war-struck regions

raq and the World Bank signed a $350 million loan agreement yesterday to fund emergency reconstruction in towns recaptured from Islamic State militants, a deal Baghdad said marked the first international help to rebuild areas devastated by war. Finance Minister Hoshiyar Zebari said around a third of the money would go toward repairing roads and bridges, with a similar amount allo-

cated to restoring electricity networks, water and sewage. Iraq faces a budget deficit of up to $20 billion this year as it grapples with low oil revenues and the heavy cost of war with Islamic State insurgents. The militants hold much of north and west Iraq, but have been driven out of parts of Diyala and Salahuddin provinces north of Baghdad by Shi'ite militia, Kurdish peshmerga and Iraqi security forces, backed by U.S.-led air strikes.

NEW TELEGRAPH MONDAY, JULY 13, 2015

News

International Sport

Chelsea demand €35m for Mikel

Tennis

Casillas in tears as he bids farewell to Madrid fans

Hingis relives glory years after doubles win

Features

Sport

Calendar Slam: I can do it at US Open – Serena

Did you know? Serena Williams, at 33 years and 289 days, is now the oldest player to clinch a Grand Slam title, surpassing Martina Navratilova by 26 days.

NSC queries NFF over Keshi’s sacking • Ex- coach demands N5bn compensation

Adekunle Salami

he National Sports Commission has queried the Nigeria Football Federation over the recent sacking of former Super Eagles Head Coach, Stephen Keshi. The NFF on Saturday, July 4 terminated Keshi’s contract following a meeting of its Executive Committee in Abuja. Prior to the termination of his contract, Keshi, who led the Super Eagles to victory at the 2013 Africa Cup of Nations in South Africa, had been under fire from the NFF after it emerged that he had applied for the vacant coaching job of the Ivoirian national team. But the NSC, the country’s apex sports ruling body, is angry that the football house did not carry it along in the process and issued a query to the NFF to explain its action. Authoritative sources revealed that the NFF swiftly replied the query with a fourpage response.

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

“The ministry is not happy because the NFF still gets funds from government but when it comes to crucial decisions, the officials ignore the NSC,” the source said. Director General of the NSC, Al-Hassan Yakmut, confirmed that the body demanded an explanation from the NFF over the sacking of the ‘Big Boss’. Yakmut said: “It is administrative procedure and explanation has been provided for us to act on.” Meanwhile, Keshi has concluded plans to drag the NFF

to the Court of Arbitration for Sports. Keshi, according to authoritative sources, is asking for N5bn compensation for unlawful termination of his contract. New Telegraph Sport can reveal that the NFF will be officially informed on Monday (today) with documents. “Keshi says his character has been damaged in the process and is challenging the process of the termination,” our source said. The NFF stated that Keshi breached the contract with his ‘actions and inactions’.

Nigeria’s Ahmed Musa (right) challenging BosniaHercegovina’s midfielder Mensur Mujdza at the 2010 World Cup

Oliseh, Keshi tear NFF board apart

• As Technical Committee meets Tuesday Emmanuel Tobi

resh crisis is brewing in the Nigeria Football Federation as some board members feel alienated from the decision to replace sacked coach, Stephen Keshi, with Sunday Oliseh. New Telegraph exclusively scooped that some of the aggrieved members are not favourably disposed to NFF President Amaju Pinnick’s handling of the sacking of Keshi and are angered by the unilateral decision of a few members in the hiring process of Oliseh. “Many of the board members are angry because all the decisions regarding the sacking of Stephen Keshi and the move to hire Sunday Oliseh were just the decisions of Amaju Pinnick, Chris Green, Seyi Akinwunmi and Shehu Dikko,” revealed a source in the NFF secretariat. The source added: “Even Felix Anyansi is not being carried along properly as chairman of the Technical Committee but he is just playing along with them. The choice of Oliseh and a foreign technical assistant was not a collective decision.” Oliseh’s proposed foreign assistant is Belgian, Jean Francois Losciuto. Loscuito was Oliseh’s assistant during the Nigerian’s time as coach of RCS Verviers in Belgium, and he has had coaching stints in Togo, Rwanda and Burkina Faso. Meanwhile, New Telegraph learnt that there would be an emergency meeting of the NFF Technical Committee on Tuesday, July 14 in Abuja with the aim of having members endorse the Oliseh appointment. “The Disciplinary Committee acted unilaterally and recommended the sacking of Keshi without the Technical Committee which was responsible for the hiring of the coach. Now the input of the Technical Committee members was never sought before embarking on

Charles Ogundiya

CONTINUED ON PAGE 54

Sport Correspondent

Djokovic down Federer to claim third title

}55

52 News

MONDAY, JULY 13, 2015 NEW TELEGRAPH

€35m stalls Mikel’s Fenerbahce deal Emmanuel Tobi

igeria and Chelsea midfielder John Obi Mikel was priced out of a move to Fenerbahce, according to the Turkish club’s president Aziz Yıldırım, who, according to media reports in Turkey, claimed that the deal would have cost his side a staggering 35 million euros for the 28-year-old. The Super Eagles star was expected to leave Chelsea during the current transfer window after nine years at the club, however, according to Yildrim, the cost of bringing the Nigerian to the club appears to have put off last season’s Turkish league runners-up. “We made an enquiry for Mikel, the deal would have cost a total of 35 million euro; 15 million euro transfer fee to Chelsea and five million euro per-season on a four-year deal for the Nigerian international,” Yıldırım was quoted as saying by Turkish-football.com in a press conference at the club’s Topuk Yayla training grounds. Fenerbahce have been busy conducting some impressive transfer business this summer, signing Simon Kjaer from Lille and Manchester United players, Nani and Robin van Persie. And it had been expected that Mikel would become the third player to swap the Pre-

mier League for the Turkish Super Lig, as Fenerbahce look to replace the outgoing Emre Belozoglu. However, the 19-time Turkish league champions now look certain to turn their attentions elsewhere. Mikel, who joined Chelsea in controversial circumstances from Lyn Oslo in 2006, last season largely deputised for Nemanja Matic in Chelsea’s central midfield, but still made 18 Premier League appearances as the Blues won their fourth Premier League title and their first since the 2009/2010 campaign. According to reports in England, Chelsea are only likely to allow Mikel to depart should they sign a replacement, and they have been linked with a surprise move for Chile international Charles Aranguiz.

Chelsea’s Mikel obi (left) in action last season

Former NFF scribe warns against hiring Oliseh Adeolu Johnson Abuja

F Yusuf

ormer Secretary General of the Nigeria Football Federation (NFF), Tijani Yusuf, has expressed fears over the decision of the current Amaju Pinnick led board to hire former Super Eagles midfielder, Sunday

Oliseh, as Super Eagles coach. He argued that much as Oliseh does not have a practical coaching experience he also will be too stubborn to handle by Nigerian football officials. Yusuf who was the Secretary General during the playing days of Oliseh argued that it is indeed a wrong move to sack Keshi and replace him

with an Oliseh who is less amenable. “The idea to hire Oliseh is not really a wise one. He is a very stubborn person who will be more difficult to handle than the Stephen Keshi that was sacked. More so, he has not established himself as a good coach to be able to handle the Super Eagles,” Yusuf said.

Emenike ready to fill Gyan’s big shoes Yakmut ‘chides’ destitute ex-athletes Ifeanyi Ibeh

uper Eagles striker, Emmanuel Emenike, has expressed his readiness to emulate the accomplishments of Ghanaian striker, Asamoah Gyan, during the latter’s time at Emirati club side, Al Ain. Gyan scored 95 goals in 81 league appearances for Al Ain between 2011 and 2015 before departing for Chinese top division side Shanghai SIPG. Emenike, who completed his loan move from Fenerbahce on Friday, only scored a meagre 17 goals in 65 appearances in all competitions over the course of two seasons for

the Turkish club, including an unimpressive five in 34 appearances in all competitions last season. The Nigerian thus has some huge boots to fill, but the former Spartak Moscow striker is not in the least worried about the task ahead. “Gyan is a great player who achieved a lot with this club,” said the 28-year-old. “I would like to emulate what he did here. I will work hard towards that and give my best to achieve the club’s goals and targets. “But football is not just about one individual or a few individuals. It is a team game and it requires team work. We

will work together.” Emenike, who has played 35 times for Nigeria, added: “I’m obviously pleased to join a top club like Al Ain. I am aware of the pressure and responsibility that comes with playing for Al Ain. “They are looking at winning silverware on all fronts and I hope I can be a big contributor to that. I hope that we can win championships in the coming season.” Al Ain are the reigning champions of the UAE Pro-League and have won the league a record 12 times. They have also won the Asian Champions League twice.

Ifeanyi Ibeh

irector General of the National Sports Commission, Al-Hassan Yakmut, chided some of the country’s former athletes living in penury and has called on current athletes to learn, from their misfortune as well as from some of the country’s other heroes who actively prepared for life after retirement by getting the proper level of education. Yakmut, a former star of the country’s volleyball team, stated this in Lagos at the weekend at the commissioning of the General Kenneth Minimah Boxing Hostel, at the Brai Ayonote

Boxing Complex, National Stadium. “I am a retired athlete, but why am I enjoying this advantage,” asked Yakmut, while responding to a question on plans by the NSC for former athletes living in poverty. “(Former footballers) Segun Odegbami and Adokiye Amiesimaka are retired athletes. It depends on how you handled your sporting career while you are growing up.” Despite his remarks, which weren’t said with any malicious intent, Yakmut stated that the NSC was on the verge of lining out programmes aimed at ensuring a better life for the country’s athletes after retirement.

“If you didn’t make a backup arrangement then post-career life would become a challenge,” he continued. “So what we are doing now is to evolve a programme that would go along with education. “Once fully in place, no athlete will ever again be illiterate.”

Yakmut

NIKE jerseys supply in trickles Adeolu Johnson Abuja

T Muhamed Besic of Bosnia and Herzegovina is tackled by Emmanuel Emenike of Nigeria

he supply of the NIKE jerseys and kits to the Nigeria Football Federation (NFF) is still in trickles as team officials are still seeing wearing Adidas kit to training. And because of the shortage of supply, NFF now seem to be rationing the distribution of the jer-

seys to the national teams and most times making up the shortfall by going to the market to buy some. New Telegraph can report authoritatively that the National teams are only provided with playing jerseys as the officials are still seen wearing Adidas tracks during training. Any attempt to take photographs while training is highly resisted because they do not want to

be seen wearing the Adidas jerseys so as not to incur the wrath of NIKE. The whole NIKE contract has so much been shrouded in secrecy as non of the marketing staff was involved in the negotiation of the deal. Everything they know about the contract was what was told them by the NFF president, Amaju Pinnick who single highhandedly brokered the deal.

International Sport 53

NEW TELEGRAPH MONDAY, JULY 13, 2015

Casillas in tears as he bids farewell to Madrid fans

ker Casillas bid an emotional farewell to Real Madrid on Sunday as he confirmed he is now a Porto player. The goalkeeper brings an end to 25 years at the Santiago Bernabeu side to join the Portuguese outfit after a deal was agreed on Saturday night. And a tearful Casillas, who sat alone at his press confer-

ence, thanked the club’s fans for all the support they have shown him during his trophyladen years, and says he is looking forward to continuing his career. “I have come to this great stadium today to say goodbye to all of you,” he said. “Especially to the Madrid fans. As of Saturday I’m no longer a Real Madrid player, now I’ll

be a Porto player. “I am moving to Porto for many reasons. Firstly I am joining Porto because of the excitement that the coach has transmitted to me. “Secondly, because of their affection - they have won me over. I’ll do everything I can to not disappoint them and fight as hard as possible to win as many titles as I possibly can there.”

Bolt welcomes Schweinsteiger to United

S Casillas

second Cuba player has defected during the CONCACAF Gold Cup, a situation which left the squad down to 15 prior to Sunday night’s match against Trinidad and Tobago, assistant coach Walter Benitez said. Midfielder Arael Arguellez quit Cuba’s hotel following in the footsteps of striker Kailen Garcia, who deserted the team before last Thursday’s

Group C debut against Mexico in Chicago. Garcia has turned up in Miami saying he wants “to live the American dream”, Benitez told reporters. “(Arguellez left) after the match against Mexico. We had got to the ho-

tion at the Zurich-based global soccer body have received another 28 suspicious activity reports since mid-June, a spokesman for the attorney general said. The Swiss criminal investigation focuses on the decisions on who would stage the World Cup. Both Russia and Qa-

tar deny wrongdoing and say they are preparing to hold the tournaments on schedule. Attorney General Michael Lauber said last month that Switzerland’s anti-money laundering agency had identified 53 suspicious transactions flagged up from information supplied by banks.

Bolt

wenty-one years after its foundation stones were laid during the tenure of late Group Captain Brai Ayonote as chairman of the country’s amateur boxing body, the boxing hostel, situated within the Brai Ayonote Boxing Complex,

fight against Manny Pacquiao - which drew 4.5 million pay-per-view purchases and half a billion in revenue. Golovkin, who holds the IBO/WBA middleweight titles, is willing to drop down to the junior middleweight limit of

154-pounds, where Mayweather holds the WBC/ WBA titles. “Golovkin is beyond a super fight. Golovkin would be bigger than Pacquiao, but to me it doesn’t make sense to embark on that kind of challenge just for the challenge. We

can’t rely on one dude to give us everything we need to see in boxing. Between Bernard Hopkins and Floyd, the only thing we missed was ‘fanman’, that’s the only thing we haven’t had yet. We can’t get it all out of one fighter,” Naazim told On The

Blanc confirms PSG interest in Di Maria

M Blanc

mark pose. “I want to take this time to welcome @bastianschweinsteiger to @manchesterunited,” read the caption. “I [am] sure u will help us to be victorious this season.#ForeverFaster #seriousface”

tel, we had dinner and he left,” Benitez said. Benitez is temporarily in charge of the team, crushed 6-0 by Mexico, because head coach Raul Gonzalez and six players have not yet managed to obtain visas to enter the United States.

Hopkins’ Coach: Mayweather-Golovkin is super fight

aazim Richardson, best known as the head trainer for living legend Bernard Hopkins, sees a catch-weight fight between Floyd Mayweather Jr. and Gennady “GGG” Golovkin as being a bigger spectacle than Mayweather’s May mega-

stamping his switch to Old Trafford, with both clubs having announced on Saturday that a deal had been agreed. And Bolt - a United fan - posted a picture of Schweinsteiger performing an action similar to his own trade-

Gold Cup: Another Cuba player absconds in US

Swiss FIFA inquiry receives more ‘suspicious activity’ reports

witzerland now has 81 reports of suspicious financial activity linked to FIFA’s decisions to let Russia and Qatar run the 2018 and 2022 World Cup tournaments, the Swiss attorney general’s office said on Sunday. Swiss prosecutors investigating corrup-

print star Usain Bolt has taken to Instagram to welcome Bastian Schweinsteiger to Manchester United, ahead of the completion of the midfielder’s move from Bayern Munich. The Germany captain is on the verge of rubber-

anchester United attacker Angel Di Maria is a player that Paris SaintGermain head coach Laurent Blanc has confessed that he would like to sign. Asked by L’Equipe if the Argentine is a player he ad-

mires, he replied: “Yes. We have our priorities... “But to strengthen such a team you must target guys who are at big clubs and who are not easy to prise away. That’s hardest for PSG. Di Maria, he’s good.” Di Maria

21 years after, ‘Brai Ayonote’ Boxing Hostel now ready National Stadium, Lagos, was finally commissioned on Saturday by the president of the Nigerian Boxing Federation, Lt General Kenneth Minimah. Initially known as the Brai Ayonote Boxing Hostel after the revolutionary late boxing chief who led the country’s boxers to glory at the 1990 Commonwealth Games and 1992 Barcelona Olympics, it has now been renamed General Kenneth Minimah Boxing Hostel, after the current boss of the boxing body who singlehandedly ensured that the hostel was completed within one year of his assumption of office. Minimah, who eulogised the late Ayonote for commencing the project before his unexpected demise, said he would have preferred the hostel to have remained in the name of the late Airforce officer but

had to accept the honour on the recommendations of the leadership of the National Sports Commission. Construction work on the 30-bedroom hostel got underway in June 2014 under the auspices of officers of the Nigerian Army Corps of Engineers, and by February 2015, approximately eight months, the building was completed complete with modern housing facilities and utilities. It also has a 300 KVA transformer, a 60 KVA generator and its own independent water supply system. Minimah, who is also the current Chief of Army Staff, commended the job done by the Nigerian Army Corps of Engineers, and reserved special thanks for President Muhammadu Buhari “for his tireless support for sports development in the country.

Sport

MONDAY, JULY 13, 2015 NEW TELEGRAPH

Abia Warriors 3-1 Taraba

Oyedeji intercollegiate basketball begins September

Sunshine 2-0 Bayelsa Utd

Ifeanyi Ibeh

NPL RESULTS Kwara Utd 0-1 Sharks Shooting Stars 3-0 Giwa FC Rangers 3-1 Lobi Stars

Wikki 2-1 El-Kanemi W’Wolves 2-1 Enyimba Heartland 3-1 Dolphins Akwa Uts 1-0 Kano Pillars Nasarawa 1-1 IfeanyiUbah

Oliseh, Keshi tear NFF board apart CONTINUED FRO M PAG E 5 1

aptain of Nigeria’s national basketball team, Olumide Oyedeji, is set to launch an intercollegiate basketball championship as part of his plans to ensure that athletes get a sound tertiary education to go along with their professional career. The proposed intercollegiate basketball championship will come up in September and will feature top tertiary institutions from the Nigeria University Games (NUGA), Nigeria Polytechnic Games (NIPOGA) and the Nigeria College of Education Games (NACEGA). It will run alongside the annual Olumide Oyedeji Basketball Camp for kids. Tagged ‘Stay in School Initiative’, the England-based veteran explained that the programme was so-tagged to stress the need for education among athletes, particularly

the frivolous trip to London to discuss with Oliseh,” another source revealed. He added: “The members are angry with the decision to go to London to negotiate with a Nigerian coach who could have easily come home to share his vision with the Technical Committee. They also frowned at the plans to Ifeanyi Ibeh make Oliseh design a five-year he second edition of the plan for the NFF which is the Goal ‘15 football tournaresponsibility of the newly ment will take place in appointed Technical Director, August, according to organisAmodu Shaibu.” ers of the annual charity event. Following last year’s maiden edition of the tournament which was initiated to emphasise the need for assimilation of the less-privileged into the society and promote the development of the ability of youths in Nigeria, using football as its sole medium. Organ-

basketball players, and to revive the culture of school sports at the tertiary schools level. “It is worrying to know that a lot of professional athletes in Nigeria today have little or no tertiary education. Sport only lasts for a short period of time and when it’s gone what do you fall back on,” he queried. “We need to create a scenario where going to school and playing sports is attractive, that is why I have decided to start from my constituency, which is basketball, by creating a competition amongst the best tertiary institutions in Nigeria.” Oyedeji, a product of Nigeria’s premier university sports event, the NUGA Games, added: “I remember those years when I played in the Nigerian league, a majority of us usually met at the NUGA Games and that’s why even those who are retired now are all doing good everywhere they are in the world.”

Goal ‘15 football tourney starts August isers of the tourney have unveiled plans for the weeklong event which gets underway on August 4, with a seminar and press conference. The seminar will see dignitaries from various walks of life speaking on the need for youth empowerment and the importance of eradicating disparities between the privileged and the less privileged in the society. The dignitaries will also speak

Djokovic beats Federer to claim third title

on the need to support the country’s youth in their endeavours. Children from four Abujabased orphanages will take part in Goal ‘15 and organisers will embark on a visit to these orphanages from August 5 to 6 before action gets underway on August 7 with the football tournament at the City Bridge Sportsplex, City Park, Wuse 2, Abuja. The tournament will run until August 8 and tickets will

be available at the venue. The tickets will go for N3,000, which, according to organisers, is also the minimum donation expected from members of the public. A percentage of the ticket proceeds, as well as donations, will be used to provide for the immediate needs of the orphanages. It will also be used to support the orphanages in setting up means to generate funds.

Wimbledon 2015

Keshi

ovak Djokovic and Roger Federer provided tennis fit for a golden age on Sunday before the world No 1 eased to a third Wimbledon title. Djokovic was stretched to his limits at times but ultimately proved too good for Andy Murray’s conqueror, winning 7-6 6-7 6-4 6-3 in two hours and 55 minutes. The Serb thrashed away a final inside-out cross court forehand with

Oyedeji (right) teaching a young player how to dunk the basketball

a victorious cry to seal it, before eating a blade of grass. He was pushed all the way by the player who had been so imperious up until this match. By doing so he moved ahead of the likes of Andre Agassi, Jimmy Connors and Ivan Lendl to register a ninth Grand Slam title, furthering his case to be regarded as one of the greats of the sport already at just 28. Federer could not quite rouse himself to

Hingis relives glory years after doubles win

the heights he reached in knocking out Murray two days ago, but then his precision serving was up against an even more skilled returner than the world No 3. The match will be remembered for the outstanding passage of play that developed late in the second set, as the Swiss clung on to force what turned into a thrilling tiebreak that almost lifted the roof off the Centre Court.

artina Hingis is a Wimbledon champion once again, 17 years — exactly half her life — after the last time. Already a member of the International Tennis Hall of Fame on the merits of her “first” career in the sport, Hingis teamed with Sania Mirza to win the women’s doubles final at the All England Club by beating Ekaterina Makarova and Elena Vesnina 5-7, 7-6 (4), 7-5 on Saturday night. The 34-year-old Hingis added to her collection of Wimbledon trophies that includes the singles title

from 1997, plus the women’s doubles titles from 1996 and 1998. The latter was her last appearance in a final at Wimbledon. “It feels like it was in another life,” Hingis said. “Usually, you’re lucky to win it once or happy to be out here and play on the Wimbledon grounds. It’s above my expectations.” And to think: A few years ago, Hingis was taking part in the “Legends” tournament for former players. “I wouldn’t have thought (then) that I’ll be back, playing the finals here,” she said.

Hingis

Coach heaps praise on “incredible” Serena

S Djokovic (left) and Federer

erena Williams four successive Grand Slam victories is an “incredible achievement”, according to her coach Patrick Mouratoglou. The 33-year-old won her sixth Grand Slam title with a straight-sets win over Spaniard Garbine Muguruza, and Mouratoglou insists that she had the toughest possible draw.

He is quoted as saying by Sky Sports News: “To win four Grand Slams in a row is an incredible achievement. Winning just one Grand Slam for anyone is such a big achievement. “Here she had such a tough draw, playing Heather Watson, Venus [Williams], Vika [Azarenka] and [Maria] Sharapova. The draw was so difficult, she had so

many tough matches, but she made it every single time against every kind of adversity. “She faced different game plans, different kinds of tennis, being sick, not feeling great every day. It’s incredible to be able to focus and show so much dedication and ability to turn things around when you are in trouble.”

Sport News 55

NEW TELEGRAPH MONDAY, JULY 13, 2015

Calendar Slam: I can do it at US Open – Serena H aving spent the last two weeks saying she would not talk about a possible Grand Slam, Serena Williams allowed herself a few moments to enjoy her sixth Wimbledon title before thoughts turned to New York and the elusive calendar year feat. Williams belongs to an exclusive club of women who have held all four major titles at the same time, and achieved the so-called ‘Serena Slam’ for the second time with her 6-4 6-4 victory over Garbine Muguruza in Saturday’s Wimbledon final. But there is an even more prestigious gang of players who have won Wimbledon, the Australian, French and US Opens in the same calendar year and Williams wants in.

RECORDS Only Maureen Connolly (1953), Margaret Court (1970) and Steffi Graf (1988) have achieved the Grand Slam, but Williams is on the verge of joining them and victory at the U.S. Open in September will rubber stamp her membership. Like all great champions, it was not long after leaving Wimbledon’s hallowed turf before the American’s mind wandered to the new challenge. “It took me a little while,” she joked. “I think when I did my interview... after the match, I did the whole presentation, I did the whole walk around the court. I was peaceful, feeling really good. Maybe a little after that I started thinking about New York.. “Then I just thought, ‘Oh, man, I’ve won New York three times in a row. I hope this isn’t the year that I go down’.” At 33 years and 289 days, Williams is now in her own exclusive club as the oldest player in the professional era to clinch a grand slam title, surpassing Martina Navratilova by 26 days What makes her tally of 21 grand slam titles so remarkable is that eight have come after she turned 30, with no sign that her ability to pummel much younger opponents is on the wane. In fact, the secret to her current

stranglehold on the women’s game, might just be that she has been there, done it and bought the T-shirt. “I’ve just been super relaxed,” she said. “I’ve been taking time every match. I didn’t have an easy go this tournament, but I still just take it one match at a time... “I’ve learned a lot. That I’m able to do anything. Anyone’s able to do anything they really set their mind to.” Before Williams moves on from completing a second “Serena Slam” to pursuing tennis’ first true Grand Slam in more than a quarter-century, it’s worth pausing to appreciate what she’s done.

STATISTICS First of all, there are the statistics. And what statistics they are: — She’s won 21 Grand Slam titles; only Steffi Graf, with 22, has more in the Open era of professional tennis (the all-time record is Margaret Court’s 24). — Her 6-4, 6-4 victory over Garbine Muguruza in Saturday’s final gave Williams six Wimbledon titles; only Martina Navratilova (with nine) and Graf (with seven) have more. Williams also has a half-dozen trophies each from the U.S. Open and Australian Open, along with three from the French Open. — She’s won 28 Grand Slam matches in a row and four consecutive major titles over two seasons, something last done by — guess who? — Williams in 2002-03, when she coined the term “Serena Slam.” — At 33, she is the oldest woman to win a major title in the Open era, nearly a month older than Navratilova was at Wimbledon in 1990. It’s all impressive. And it all helps Williams believe she can continue this remarkable run at the U.S. Open, which begins in late August in New York. A trophy there would give Williams a calendar-year Grand Slam, which no one — not even Roger Federer — has accomplished in tennis since Graf did it in 1988. Only two other women (Maureen Connolly in 1953, and Court in 1970)

Serena the world No 1 pumps her fist on her way to a another victory

and two men (Don Budge in 1938, and Rod Laver in 1962 and 1969) have pulled off the feat, and none of them had to deal with the intense media scrutiny of this day and age. “I feel like I’ll be OK. I feel like if I can do the ‘Serena Slam,’ I will be OK heading into the Grand Slam. Like I always say, ‘There’s 127 other people that don’t want to see me win.’ Nothing personal, they just want to win,” Williams said, referring to the size of the field at a major tournament. “I had a really tough draw (at Wimbledon). This gives me confidence that if I had this draw, I can do it again. I’ll just do the best I can.” Her best is the best there is, and might ever have been. But her story is about so much more than the numbers associated with her greatness. There’s the resilience she’s shown away from the court, too, dealing with various injuries, none more worrisome than what happened in the aftermath of her 2010 Wimbledon championship. INJURY A few days following that final, Williams cut both feet on broken glass while leaving a restaurant in Germany. She needed two operations on her

There’s 127 other people that don’t want to see me win

Serena poses with losing finalist Garbine Muguruza

Serena

right foot. Then she got blood clots in her lungs, and needed to inject herself with a blood thinner. Those shots led to a pool of blood gathering under her stomach’s skin, requiring another procedure in the hospital. She would be off the tour for 10 months, and go two years between major titles. Since then, though, she has won eight of the past 13 Grand Slam tournaments. On Saturday evening, hours after admiring the gold letters of her name on the board in a hallway of the Centre Court building listing Wimbledon’s champions, Williams sat with a small group of reporters for one final interview. As she picked at the remnants of ankle tape near a jagged scar on her lower right leg, Williams was asked whether, as she looks back on her career, she divides it into phases. She began to answer, then paused and said: “Or there was that stage where I was in the hospital. Like, that wasn’t so fun. I was doing really well, and then I ended up in the hospital. So that was kind of devastating. But ultimately, I think that stage set up this stage, you know? And ... yeah, I think it worked out for me.”

On Marble

Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing.

World Record

Sanctity of Truth

The most popular tourist destination across the globe in 2013 was Istanbul’s Grand Bazaar, which recorded 91.25m visitors.

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

– Denis Waitley

MONDAY, JULY 13, 2015

“T

N150

We can't give up on tourism

here is nothing that I would like more than to return here, either in an official capacity or nonofficial capacity. There are places that are so clearly important that you know, as a diplomat or somebody that’s served in the place that you should stay connected to”. These are the words of Jeffrey Hawkins outgoing United States Consul-General to Nigeria. I felt a chill in my bones reading these words from a foreigner about my country. If we had a functional tourism board or outfit, these lines, properly packaged to the outside world could attract hundreds of tourists to Nigeria. The fact is Nigeria is a beautiful place. I have travelled the world and I can tell you right away that there are few countries on this planet that boast the sights and sounds one would encounter traversing this vast land God gave to us. Yes, our leadership have not succeeded in selling the Nigeria story to the world in a manner that would arouse their curiosity and interest to visit, yet those who have come in the line of their official duties have borne testimony to the beauty, grace and elegance of this giant in the sun. Their testimonies have continued to shine the light on Africa’s most populous nation. I have listened to a good number of outgoing envoys of various countries lament their exit from here, some of them after extended tour of duty. Some have returned after the end of their diplomatic service to take up residence here. One of my best friends is a young African-American who served in the American Embassy in Lagos in the nineties. After he was reposted to Tanzania, he went home, resigned and returned to Lagos. He got married to a Yoruba Lady and they live happily in Lagos. Each time I am in Lagos, they will drag me to Fela’s shrine for an evening of good music and local delicacies. In this age of incredible social connectivity, I feel rather sad that our youths have not turned their gaze on the potentials this platform hold out for meaningful engagement with the outside world. What do they do with their facebook pages, twitter handles and other platforms? Do they realize that every word twitted, every picture posted can never be retrieved. Do they know that the entire world is logged into even their most base and mundane musings. This is the digital world and one’s footprints can be easily traced in seconds and used in profiling the person and the country. Our young folks who have mastered this medium, have unfortunately turned it into a veritable weapon of abuse, insults, and idle talk. This is the impression an average foreigner has of our young people’s involvement in the social media. I want to inform these young folks that the founders of these platforms did not create them solely for politics. There is nothing wrong in the ongoing robust political dialogue on the social media. My plea is that the content be elevated to logical and intelligent interventions not the current vulgar abuse and meaningless chatter which present our young people in poor

The Blunt Edge CHUKA ODOM Leisure & Puzzle }40 chukaodom@yahoo.com

Duke

Rogers'

sites. Nigeria is beautiful in spite of all the challenges and our youths should mirror this beauty. It’s time we accept our limitations and move beyond them. Airlines drive tourism and deeply interwoven in this, is national pride and prestige. Nigeria does not have a national airline and is not equipped to profitably run one in the current difficult economic and competitive environment. This should not in any way hamper our tourism industry. Arik Air is a Nigerian carrier with considerable airlinks within Africa and major world cities. All that is needed is a partnership between the airline and our tourism industry to show case Nigeria to the world. Tourism is not entirely about flying. It is a capital intensive venture which most countries invest heavily over a long period of time before reaping the economic benefits. Dubai (UAE), Egypt, Kenya and several others depend heavily on tourism for a good chunk of their income. But it took them years to develop the infrastructure and the right attitude to grow the industry in their countries. What needs to be done is to fashion out a deliberate policy framework to target a few locations for development as tourist destinations. This will incorporate access roads, security, formations, hotels and shops. This neglected sector can provide sizeable jobs for our teeming youths as tour guides, interpreters, tour bus drivers etc. Above all, it would help foreigners gain access and insight into this beautiful land our leaders seem not to appreciate as a holiday destination. Why have we left Tinapa just exactly how the visionary Donald Duke left it eight years ago. The Federal government ought to take a fresh look at Tinapa with a view to incorporating it into our tourism road map. In this era of dwindling revenue, tourism presents a huge source of increasing our national revenue, and selling the great cultural heritage of our people. We should not give up on tourism.

HIGH CHIEF Davido

Whizzkid

light before the outside world. The social media has a huge potential to sell Nigeria’s immense social and cultural heritage to the outside world through our young people. This is what young people in other countries are doing for their country. The error our youths are falling into is to think that loyalty to one’s country amounts to support for the government. It is not. Governments will come and go, the country remains. I am aware how difficult it is to sell this to a youth population that have been let down by their governments over the years. I also know that the anger and frustration they feel will tend to obscure their love for their country. However, one does not disown one’s wayward father or mother. My hope is that the Muhammadu Buhari administration will move fast to im-

plement its campaign promises to the youths especially the “unemployment allowance” package. I remember years back when I was in the university, one of the hit songs at parties then was Kenny Rogers' “Going Back To Alabama” in which he combined the message of resilience with love for that city. The hit song “New York” by Alicia Keys helped put the city in glowing and glitzy light and became for something the anthem of night parties. I would love to see our young artistes like Oladapo Oyebanjo (Dbanj), David Adeleke (Davido) and Ayodeji Balogun (Whizzkid) sing about Lagos, Ibadan, Abuja in a manner to attract international love and curiosity. I would love to see our young online activists tweet pictures of sunset in Abuja, wildlife in the Plateau hills and paintings of our numerous iconic

POLICE NOT BROKE, IGP SAYS - News

- Yes. We see it on them and their vehicles!

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotlines: (Lagos 0902 928 1425), (Abuja 0805 5118488) Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: YEMI AJAYI.