Monday, june 1, 2015 binder1 by Newtelegraphonline

A media partner of Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS /newtelegraph

Vol. 2 No. 467

Monday, June 1, 2015

@newtelegraph1 www.newtelegraphonline.com

12 pages of international new york times

Nigeria’s transition causes crack in OPEC

NEW TELEGR

Adeola Yusuf

leadership vacuum has emerged at the Organisation of Petroleum

Diezani Alison-Madueke, the OPEC’s first female president. The oil cartel may meet for its extraordinary meeting in Vienna, Austria on Friday without a substantive president, as

Alison-Madueke will no longer be eligible to preside over the meeting. A source told New Telegraph that OPEC had earlier sent a CONTINUED ON PAGE 6

}23

APH MONDAY , JUNE 1, 2015

Money Line

Oil price rally to boost capital inflows, say experts

Stock Watc

Wapic Insuran ce: Fluxes in

profit

Insurance

PenOp: Making pension contrib easier for employ ution ers

Business

lOil cartel meets Wednesday without substantive president Exporting Countries (OPEC) following the dissolution of Nigeria’s Federal Executive Council (FEC) last week, which led to the exit of former Minister of Petroleum Resources, Mrs.

N150

Interview

‘Why Nigeria ’s gas, power supply continues to crash’

42-43

What's neW s

CET implemen FG may lose tation: revenue by Customs 2020 The Federal Government no longer have may Nigeria Customaccess to the revenues from s Service (NCS)’s 2020 due to Common Externa the implementatio l Tariff (CET) n, New Telegra has learnt. ph

p.22

ICAO begin s of Nigeria’s valuation aviat security today ion

L-R: Head, One Bank Plc, Mrs. Education, Sterling Bank Olapeju Ibekwe, Plc, Miss. Adesola supported and Executiv Alli; Senior by the Sterling e Director, Principal, Caleb Bank. Caleb Group Group of Schools of Schools , Mr. Hywen , Dr. Dolapo Bennett; Head, Ogunbawo, at the Parentin Brand Manage REVENUE g Series Worksh ment, Sterling op organise d by the school Power

}21 12 pages of T incisive Business The Interna tional Civil Aviation Organisation begin securit (ICAO) will today y audit on Nigeria aviation. ’s

p.22

distribution firms move to evade N750m fixed charge s’ loss

Adeola Yusuf

The Business

Desk

ayodele aminu

Deputy Editor

(Business)

Nigeria lose s N2.2trn to power cr isis Rew

and

he Nigeri an lost a whopp economy lion (N2.2 ing $11 biltrillion) the to caused by economic imbroglio change in the value breakdown of supply and in power and services produ the goods covery scarcity of in the global ced by Motor Spirit Premium country’s econom y during a the need for impro economy, supply (PMS) also period of as petrol, a year. Estima the infrast which dragge known N84.91 ructure, the vement in collaps crash was caused ted at ary trillion in five workin d on for by the contractione of the nation 2014, the GDP monetary fuel scarcit al grid, the and fiscal Frontline g days last week. of Nigeria, accord stance y was a result Econom policy strike ing Rewane, disclos ist, Bismarck pectations, will grow to the ex- Nigeri of the Central Bank of a (CBN) and trillion in of Driver by Petroleum Tankethe to N95.09 ed this Telegraph 2015 and N156.2 the Federa s Gover at the weeke to New lion in l ed the (PTD), which grounrs’ 9 tril- lenges nment’s securi 2019. nd. He said that lifting of dty chalin some fuel at depots the conseq FSDH in Apapa. tial econom parts of north, the ic loss of the uen- experts Securities Limite the real GDP growth crisis to Nigeri d, in A lot of Nigeri energy an analys for 2015 an busine cent ($7 billion a was 1.37 per- economic and financ is of the resent will be 5.68 per cent, rate concerns ss small scale, ing a decline rep- scale ial outlook for 2015 and middle The Manag ) of her GDP. and from 2019, timate large the showe of 5.99 the nomin es- ufactu scale - in ing Direct d that Financial al GDP is manor of ring Meanwhile,per cent for 2014. expected to corded the and servicing, realso put bothDerivatives (FDC) reach N109.34 trillion while the humongous power a by 2016, sequential the direct and con- N126.86 trillion lot of econom loss, by cost ic activities as depended at $11 billion to the economy N142.08 by 2018, with 2017 and that on . rate of 15 were ground electricity supply The GDP per cent, a growth 16 per cent and 12 per measures there was ed, especially when Projected cent the no But follow respectively. alternative diesel to power the Nigeria’s Grossvalue of ing the weak their firms. source of energy to reProduct (GDP)Domestic in 2019 INFLATION RATE April 2015.... CONTIN UED Rates Da .......................... ON PAGE shboard LENDING 22 ..8.7% March 2015.... InterBank Rate..... RATE .........................8 February 2015.... EXCHANGE .5% Prime Lending ...............12.57% RATE .....................8.4 Rate...........17.93 (BDC % EXCHANGE Maximum Lending % USD . . . . . . as at May 29) RATE .. Rate...26.83% (Interbank Pounds . . . . . . . . . . . . . . . . . N221 as at May 29) .. USD . . . . . . Euro . . . . . . . . . . . . . . . . . . . .N340 .. l Foreig ........... Pounds . . . . . . . . . . . . . . . . N199 n Reserv . . . . .N245 es – $29.61 .. 6bn as at Euro . . . . . . . . . . . . . . . . . . N303 27/05/2015 ........... . . . .N220 Source:

ane puts dire ct cost at 1.37 % of GDP

Buhari set to sack service chiefs Bayo akomola

fe Asst. Editor (Maritime ) sunday Ojeme

Asst. Editor (Insuranc

tony Chukwu

nyem

Asst. Editor (Money

Dele alao

Industry & Agric

Market)

Editor

Dayo ayeyem Property Editor

adeola Yusuf Energy Editor

Wole shadare Aviation Editor

Chris Ugwu

Capital Market

Editor

abdulwahab

Isa

Finance Editor

Kunle azeez

Senior Correspon

dent

Chuks Onuanyi Energy

nnamdi amadi Reporter

Johnson adebayo

Asst Productio

n Editor

N156.29trn

CBN

lTo retain Arase as Inspector General of Police Ayodele Ojo

resident Muhammadu Buhari is set to sack service chiefs any time from now, New Telegraph learnt at the weekend. However, the shake-up in the top hierarchy of the military will not affect the police as the president is said to be disposed to retaining Mr. Solomon Arase

who was appointed as the Inspector General of Police in the twilight of the administration of former President Goodluck Jonathan. The service chiefs to be affected in the purge of the high military command are Chief of Defence Staff, Air Chief Marshall Alex Badeh; Chief of Army Staff, Lt. General Kenneth CONTINUED ON PAGE 5

President under fire for secret asset declaration Our Correspondents

resident Muhammadu Buhari came under fire yesterday for not keeping to his campaign promise to publicly declare his assets. Respondents spoken to by New Telegraph urged the president to keep faith with his vow and declare his assets publicly. However, some lawyers defended the president's CONTINUED ON PAGE 5

Quick Read

Editorial

Double attack on global stage

}19

Buhari names Femi Adesina, Garba Shehu spokesmen }9

President Muhammadu Buhari (left) with the former President of Kosovo, Mr. Behgjet Pakolli, during Pakolli’s visit in Abuja…yesterday.

News

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

SPECIALonREPORT The 8th Senate’s Fresh Generation Godswill Akpabio

Aliyu Wamakko

Jonah David Jang

Stella Adaeze Oduah

Samuel Egwu

Rabiu Kwankwaso

Theodore Orji

Mao Ohuabunwa

Uche Lilian Ekwunife

Buruji Kashamu

Jeremiah Useni

Abubakar Kyari

Ben Murray Bruce

Peter Nwaoboshi

Biodun Olujimi

Dino Melaye

Monsurat Sunmonu

Bayero Usman Nafada

Bala ibn Na’Allah

Isiaka A. Adeleke

Abubakar Danladi

Adeola Olamilekan

Binta Masi Garba

Rafiu Adebayo Ibrahim

Mustapha Bukar

Duro Samuel Faseyi

Fatimat O. Raji-Rasaki

Shehu Sani

Mustapha Bukar

Philip Aruwa I Gyunka

Buhari Abdulfatai

Suleiman O. Hunkuyi

Osinakachukwu Ideozu

Danjuma La’ah

Bassey Albert Akpan

Olanrewaju Tejuoso

Mohammed A. Ohiare

Nelson Asuquo Effiong

Achonu A. Nneji

Sabo Mohammed

David Umaru

Umaru Ibrahim Kurfi

Barau I Jibrin

Nnaemeka Anyanwu

Clifford A. Ordia

John Enoh Owan

Mathew A. Urhoghide

Utazi Godfrey Chukwuka

Rilwan Adesoji Akanbi

Gbolahan Dada

Abdul-Aziz M. Nyako

Francis A. Alimikhena

Olaka Johnson Nwogu

Ogba Joseph Obinna

Tijjani Yahaya Kaura

Donald Alasoadura

Rose Okoji Oko

Yele Omogunwa

Ogola Foster

Gershom H. Bassey

Suleiman M. Nazif

Malam Ali Wakili

Abdullahi A. Gumel

Marafa Bashir Abba

Yahaya Abdullahi

Abdulrahman Abubakar

Salihu Hussain Egye

Mohammed Garba

Ighoyota Amori

Aliyu Sabi Abdullahi

Ahmadu Abubakar

Mohammed Hasan

Isah Hamma Misau

Ibrahim Abdullahi

Muhammad Ubali Shitu

On June 4, 2015, the eighth Senate of the National Assembly will be inaugurated. Of the 109 Senators who will be taking their seats, 75, representing 68 per cent will be fresh in the upper chamber. Who are these fresh Senators? What are their backgrounds and antecedents? What quality of debate and contributions are we likely to see from them? These and more will be the kernel of a special report by New Telegraph on that day. The report presents a unique opportunity for family, friends and associates of these fresh Senators to felicitate with them. For enquiries and participation: Call Biodun: 0802-301-5582, Taiwo: 0803-304-2915, Onwuka: 0803-733-9843, David: 0810-759-1663

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Travel Advisory

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

International Flight Schedule Air France

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

Flight No. AF 513 AF 3822 AF514 AF513 AF514 AF3849

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

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

Amsterdam-Lagos Lagos-Amsterdam

KL587 KL588

13:15hrs 23:05hrs

20:00hrs 05:50hrs

KLM

ARIK AIRLINES

Lagos-London London-Lagos Lagos-New York

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

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

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

BRITISH AIRWAYS

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

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

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

EGYPT AIR

KENYA AIRWAYS

16:00hrs

Lagos-Kigali

11:15hrs

16:45hrs

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

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

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

14:00hrs

17:30hrs

22:35hrs 15:10hrs

06:00hrs 21:20hrs

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

hrs hrs hrs hrs hrs hrs hrs

01:00hrs

hrs

3:00hrs 14:00hrs

8:00hrs 19:00hrs

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

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

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

Lagos-Doha Flight Doha-Lagos Flight

QR 1414 (daily) QR 1415

14:55hrs 07:20hrs

23:45hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

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

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

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

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 16:00hrs

5:25+1hrs 20:20hrs

Lagos-Casablanca Casablanca-Lagos

AT738 AT 737

06:25hrs 02:15hrs

09:55hrs 6:00hrs

air maroc

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

12:30hrs

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

IBERIA

Abu Dhabi-Lagos

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

19:35hrs 23:45hrs

MEA 571 MEA 572

ETHIOPIAN AIRLINES

Lagos- Abu Dhabi

ETIHAD AIRWAYS

12:30hrs 18:00hrs

to Lagos)

UNITED AIRLINES

17:00hrs 4:40hrs

KQ 533 KQ 534

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

DELTA AIRLINES

11:00hrs 22:40hrs

Lagos-Nairobi Nairobi-Lagos

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

QATAR AIRWAYS

VS 652 VS 651

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

BA075 BA074 BA 082 BA 083

EMIRATES AIRLINES

Lagos-London London-Lagos

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

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

Lebanon-Lagos Lagos-Lebanon

VIRGIN ATLANTIC

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

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

ASKY AIRLINES

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

10:10hrs

10:50hrs

19:20hrs

21.50hrs

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

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

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

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

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

Local FLIGHT SCHEDULE ARIK AIR

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

AZMAN FLIGHT SCHEDULE

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

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

FIRST NATION AIRWAYS

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

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

AEROCONTRACTORS

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

MEDVIEW AIRLINES

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

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

News

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Buhari set to sack service chiefs CONTINUED FROM PAGE 1

Tobiah Minimah; Chief of Air Staff, Air Vice Marshal Adesola Amosu and Chief of Naval Staff, Rear Admiral Usman Jibrin. “All the service chiefs are going. In fact, they are gone. They are only waiting for the president to announce their sack. Even

most of them have packed out their personal effects in their offices. Only the IGP will be retained,” a source said. But the source added that the delay in the sack of the service chiefs was due to a disagreement among political associates of the president over the choice

of their replacements. “The president has drawn a list of his service chiefs, but when some political associates of the C-in-C saw it, they kicked against it. The composition was tilted towards certain geographical zone. Hopefully, President Buhari will sack the service

chiefs next week on or before his return from the G7 meeting holding in Berlin, Germany between June 7 and 9," the source added. New Telegraph learnt that though Jonathan hurriedly appointed and confirmed Arase following the sack of Mr. Suleiman Abba after the

former president's loss at the March 28 presidential election, Buhari is said to be disposed to retaining the police boss. Arase was appointed on April 21, 2015 and confirmed on May 12. Since 1999, each government always appoints new IGP. When former Presi-

L-R: Lagos State Deputy Governor, Mrs. Oluranti Adebule; governor, Mr. Akinwunmi Ambode; Consul General of Namibia to Nigeria, Mr. Justin Chuma Anosike and President of Republic of Namibia, Dr. Hage Geingob, during Geingob’s visit to Ambode in Lagos…at the weekend.

dent Olusegun Obasanjo took over power on May 29, 1999, he appointed Musiliu Smith as IG to replace Mr. Ibrahim Coomassie. The late President Umaru Yar’Adua appointed Mike Okiro as IG in June 2007 shortly after he took over power. Okiro succeeded Sunday Ehindero. However, the expectation was that Buhari would follow tradition and drop Arase for a new IG. The likely retention of Arase is based on a number of factors. One, he is considered to be highly professional and non-partisan. Two, the leadership of the All Progressives Congress (APC) are comfortable with his style of leadership and are not opposed to his retention. Third, he is from Edo State where the National Chairman of the APC, Chief John Odigie-Oyegun, hails from. More so, his governor, Mr. Adams Oshiomhole, was said to have supported his retention. Fourth, Arase, 59, who enlisted in the police in 1981, has only one more year to spend in the service before he is due for retirement. “President Buhari will retain Arase as IGP because of his professional conduct and the fact that he is due for retirement in 2016,” the source said.

President under fire for secret asset declaration CONTINUED FROM PAGE 1

decision, saying he has not breached any law by not doing so. A human rights group, the Socio-Economic Rights and Accountability Project (SERAP) faulted Buhari and VicePresident Yemi Osinbajo for not publicly declaring their assets. The group, in a statement urging them to do so, said this would be consistent with their apparent anti-corruption credentials and their expressed commitments to do so and in the best interest of transparency and accountability. In the statement by SERAP's Executive Director, Mr. Adetokunbo Mumuni, the organisation said: “We welcome the official declaration of assets by the president and vice-president. This clearly complies with the requirements of the Nigerian Constitution as contained in Chapter VI Section 140. However, the declaration before the Code of Conduct alone falls far short of the commitment to publicly de-

clare their assets. “SERAP recalls that the president had said before the election that he would publicly declare his assets and liabilities and encourage all his appointees to publicly declare their assets and liabilities as a pre-condition for appointment. We now expect the president to fulfill this promise to the Nigerian people.” The organisation added that it “trusts that the president and vice-president will move swiftly to publicly declare their assets and to publish widely the information on a dedicated website.” According to the organisation, Buhari and Osinbajo publicly declaring their assets will mark their commitment to the change they promised. “Public disclosure of assets will give the general public a true picture of the assets of the president and vice-president and will send a powerful message that it is not going to be business as usual with this government. This will also follow the best practice by former President

Umaru Musa Yar'Adua, boost this government’s fight against corruption and impunity of perpetrators, and fully comply with the provisions of chapter two of the dealing with Fundamental Objectives and Directive Principles of State Policy, which, among others, require the government to take steps to eradicate corrupt practices and the abuse of power. “We believe that public disclosure of assets is crucial for ensuring that public officials’ personal interests, including that of the president and vicepresident as the leaders of the nation, do not conflict with their duties and responsibilities. Public disclosure also helps to provide a baseline and thus means for comparison to identify assets that may have been corruptly acquired and that a public official may legitimately be asked to account for,” the group added. It also urged Buhari to amend the law on declaration of assets to include the requirement of public disclosure so as to bring it

in line with international standards and best practices. Human rights activist and lawyer, Mr. Fred Agbaje, also wondered why Buhari failed to keep to his campaign promise. He said in an interview that inasmuch as there was no law mandating him to publicly declare his assets, he had voluntarily pledged to do so and he should keep his promise. "There is no provision in the constitution that states that President Muhammadu Buhari must declare his assets publicly. And in any case, my quarrel is that during the campaign, Buhari told the whole world that he was going to publicly declare his asset; why is he not doing so? But one should not be surprised next week if you read the declaration on the pages of newspapers. "But doing it secretly is in tandem with the constitution. Why the public will be worried was because Buhari told us during the campaign that he was going to make it publicly, otherwise, I don’t see

anything wrong in what Buhari has done; declaring it privately or publicly does not violate any law." A constitutional lawyer and former Dean, Faculty of Law, University of Benin, Prof. Itse Sagay (SAN), while cautioning Nigerians against undue haste on the matter, said he was optimistic that Buhari would soon make his asset declaration public. Sagay, in an interview with New Telegraph, said: "Nigerians are just too impatient. These people declared their assets on Thursday just before they were sworn-in. What now gives the impression that it is not going to be made public? Personally, I have no doubt in my mind that it is going to be made public. And not only that, all political appointees under Buhari will be compelled to make their assets public after they have declared it to the Code of Conduct Bureau. "For me, that is the template of this administration and they have no choice. If they are not to lose credibility and fail from day one, they have

to do that. I expect that in this coming week we shall see the public declaration of the assets of the president and vicepresident. We should not be too impatient. But in case they did not publish their assets for people to know, that will be a major setback for this administration and it will affect their credibility." An Abuja-based lawyer and President of Public Procurement Association, Wahab Olatoye, however, stated that the declaration of assets by Buhari and Osinbajo was in order. "The constitution provides that any elected or appointed officer should declare their assets before assuming office. The law requires such officer to declare assets before taking the oath of office and at the end of the tenure. "The process is that such an officer will approach the Code of Conduct Bureau, obtain a form, where all his assets will be stated. Such form will be taken to the court to swear to an affidavit as to the effect that all the CONTINUED ON PAGE 8

News

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Boko Haram hits Yobe, Maiduguri

lScores injured as militants bomb market, buildings lDHQ vows to crush insurgents Emmanuel Onani, Ahmed Miringa and Hassan Jirgi

oko Haram at the weekend stepped up attack on Yobe and Borno States, bombing a market and buildings, including a local government secretariat in the two states. The attack on Gamboru Market in Maiduguri, the Borno State capital, which led to four persons sustaining injuries, came less than 24 hours after a suicide bomber killed 16 people in a Maiduguri mosque. The Boko Haram militants also invaded Fika Local Government Area of Yobe State between Saturday night and early yesterday, during which they burnt government and public buildings. A trader in the Maiduguri market, Mallam Garba Idi, said the attack occurred about 12:40 pm when a suspected Boko Haram terrorist planted a locally made bomb in a bag of charcoal, which exploded and injured four persons. He said: “The bomb,

which exploded about 12:30 pm, was suspected to have been planted by Boko Haram terrorists in a bag of charcoal. “I have not seen any dead body, but four people were injured and have since been rushed to a hospital; but one cannot tell if any of them later died or not.” However, another source said one person was killed in the attack on the Maiduguri market. "I heard the sound of a bomb explosion inside Gamboru Market as I approached the area to buy vegetables. An ambulance later brought out four people seriously injured," a resident, Felicia Emmanuel, told Reuters.

The insurgents also struck in Fika Local Government Area of Yobe State, destroying government and public buildings. Sources said many insurgents attacked Fika about 9.40pm on Saturday. According to the source, shops, the local government secretariat, temporary police office, works department, education administrative blocks, cars and some facilities housing security forces were destroyed. He said the insurgents stormed the area through the Dumbulwa Village and drove to Fika town in a convoy. Another source said the number of the attackers kept swelling, forcing

soldiers and local hunters in the area to hurriedly retreat. Yobe State Police Commissioner, Mr. Marcus Danladi, confirmed the incident. But he said no life was lost while no arrest had been made. "The offensive by our men continued towards midnight after a reinforcement from Damaturu and we finally dealt with them, I am sure we killed some of them and the rest fled from our men," he said. The state Chairman, Council of Chiefs and Emir of Fika, Alhaji Muhammadu Abali Ibn Muhammad Idrissa, condemned the attack, describing it as barbaric and

unacceptable. He called on the people to continue their prayers for the insurgency to abate and for God to expose those behind Boko Haram. The Defence Headquarters (DHQ) has, however, assured Nigerians of its resolve to end renewed attacks by Boko Haram on Maiduguri and other areas. It said Boko Haram would soon suffer extinction, as the military would deal it the fatal blow to end the insurgency. The assurance came in the wake of a suicide attack on a mosque in Maiduguri on Saturday, which claimed over 10 lives, with many others wounded.

In a text message to New Telegraph, the Director of Defence Information (DDI), Major General Chris Olukolade, said the military would stop Boko Haram from launching further attacks. He said: "Everything necessary is being done to stop this unfortunate trend. The terrorists will never recover, as they want to pose for publicity. "Those on the rampage now are the surviving remnants escaping from the ceaseless assaults on their forest enclaves. These marauding terrorists are driven only by suicide instincts as the only option left. Somehow, they will all be extinct very soon."

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

31oC 25oC Storm

32o C 24oC Cloudy

22oC 19oC Storm

41oC 27oC Partially Cloudy

31o C 23oC Thunder Storms

27oC 23oC Storm

42oC 27oC Partially Cloudy

30o C 23oC Thunder Storms

Vice-President Yemi Osinbajo and his wife, Dolapo, with children after worshipping at the Aso Villa Chapel, State House, Abuja...yesterday

Photo: TIMOTHY IKUOMENISAN

Oil cartel meets Wednesday without substantive president CONTINUED FROM PAGE 1

correspondence to Nigeria requesting notification of a replacement for AlisonMadueke, who ceased to be Nigeria’s oil minister from last Thursday, when former President Goodluck Jonathan dissolved his cabinet. OPEC had, last November, elected Alison-Madueke as its first female president at the oil body’s 166th ordinary meeting in Vienna. She was also appointed President of the Gas Exporting Countries’ Forum last December. “When the cartel meets on June 5, 2015, for its 167th (Ordinary) Meeting in Vienna, Austria, Alison-Madueke would have ended her reign as the Minister of Petroleum Resources.

Her chance of retaining the ministerial seat under the government of General Muhammadu Buhari is zero and what this means is that whoever becomes the minister then would replace her in OPEC. “The tradition is that the position is ceded to Nigeria and whoever is representing the country at the organisation automatically occupies the office. The tenure of President Goodluck Jonathan expired on May 29, one week before the 167th ordinary meeting of OPEC. For now, OPEC is awaiting the expected change of baton in Nigeria and a replacement for its president,” an industry source had earlier told New Telegraph.

Meanwhile, the cartel has said that its forthcoming meeting will address the effects of demand and supply of crude on prices of the commodity in the global market. The commodity prices rose at the weekend, posting a weekly gain on lift from lowered expectations that an agreement on Iran’s nuclear programme will result in a rapid return of more Iranian barrels to the market. The OPEC International Seminar, regarded as one of the premier events on the world energy calendar, will start from Wednesday without a substantive minister from Nigeria. The seminar participants customarily include

ministers from OPEC member countries and other oil-producing and oil-consuming nations, as well as heads of intergovernmental organisations, chief executives of national and international oil companies, in addition to other industry leaders, academics, energy experts and the specialist media. Nigeria may be represented by the Permanent Secretary, Ministry of Petroleum Resources, Ambassador Abdul Abdulkadir Musa, at the seminars, which have taken various forms over the years. The latest in the series of seminars, which, according to OPEC website, began in 2001, has provided fresh impetus to key industry issues and de-

veloped existing and new avenues of dialogue and cooperation. Insightful presentations and panel discussions have sought to move the energy debate forward, with high-calibre speakers discussing a wide-range of topical issues affecting the industry, both in the short and long term, against a backdrop of uncertainty and instability. The seminars have increased in size and scope over the years, embracing such related areas as global finance, sustainable development and the environment. While the seminar in 1978 was attended by some 200 participants, there was nearly four times that number over three decades later in 2012.

NEW TELEGRAPH MONDAY, JUNE 1, 2015

NATIONAL YOUTH SERVICE CORPS DIRECTORATE HEADQUARTERS, ABUJA INVITATION FOR TENDER FOR THE PRODUCTION AND SUPPLY OF NYSC KIT ITEMS FOR 2015 BATCH ‘B’ CORPS MEMBERS 1.0 INTRODUCTION

The Management of the National Youth Service Corps (NYSC) in pursuance of its statutory functions and in compliance with Due Process requirements hereby invites competent and reliable contractors to submit bids for the production and supply of kit items for the prospective 2015 Batch ‘B’ corps members who are expected to participate in the orientation course scheduled for November 2015.

2.0 SCOPE OF WORKS NORTH-CENTRAL Lot 1. Supply of NYSC Khaki Suits Lot 2. Supply of NYSC Jungle Boots Lot 3. Supply of NYSC White Canvas Lot 4. Supply of NYSC Crested Vest Lot 5. Supply of NYSC Caps Lot 6. Supply of NYSC Belts Lot 7. Supply of White Plain Vest Lot 8. Supply of White P.E. Shorts Lot 9. Supply of NYSC Stockings SOUTH WEST Lot 10. Supply of NYSC Khaki Suits Lot 11. Supply of NYSC Jungle Boots Lot 12. Supply of NYSC White Canvas Lot 13. Supply of NYSC Crested Vest Lot 14. Supply of White Plain Vest Lot 15. Supply of White P.E. Shorts Lot 16. Supply of NYSC Stockings NORTH-WEST Lot 17. Supply of NYSC Khaki Suits Lot 18. Supply of NYSC Jungle Boots Lot 19. Supply of NYSC White Canvas Lot 20. Supply of NYSC Crested Vest Lot 21. Supply of White Plain Vest Lot 22. Supply of White P.E. Shorts Lot 23. Supply of NYSC Stockings SOUTH-SOUTH Lot 24. Supply of NYSC Khaki Suits Lot 25. Supply of NYSC Jungle Boots Lot 26. Supply of NYSC White Canvas Lot 27. Supply of NYSC Crested Vest Lot 28. Supply of White Plain Vest Lot 29. Supply of White P.E. Shorts Lot 30. Supply of NYSC Stockings SOUTH-EAST Lot 31. Supply of NYSC Khaki Suits Lot 32. Supply of NYSC Jungle Boots Lot 33. Supply of NYSC White Canvas Lot 34. Supply of NYSC Crested Vest Lot 35. Supply of White Plain Vest Lot 36. Supply of White P.E. Shorts Lot 37. Supply of NYSC Stockings

NORTH EAST Lot 38. Supply of NYSC Khaki Suits Lot 39. Supply of NYSC Jungle Boots Lot 40. Supply of NYSC White Canvas Lot 41. Supply of NYSC Crested Vest Lot 42. Supply of White Plain Vest Lot 43. Supply of White P.E. Shorts Lot 44. Supply of NYSC Stockings

3.0 COLLECTION OF TENDER DOCUMENTS

Interested companies can obtain the tender documents from the Tenders Board Secretariat, Procurement Department, 3rd Floor, Wing ‘B’ Room 317, NYSC Directorate Headquarters, Yakubu Gowon House, Maitama-Abuja between 11.00 am and 4.00 pm upon presentation of a non-refundable fee of Ten Thousand Naira (N10,000.00) in form of a certified Bank draft payable to the National Youth Service Corps.

4.0 TECHNICAL REQUIREMENTS

Evidence of registration with Corporate Affairs Commission (CAC). ii. Company’s audited accounts for the last (3) consecutive years (2012 – 2014). iii. Photocopy of Tax Clearance Certificate for the last (3) consecutive years covering (2012 – 2014) corresponding with declared annual turnover and profit of the Audited Accounts. iv. Photocopy of VAT registration certificate and evidence of past remittances. v. Evidence of compliance with ITF Amendment Act 2011. vi. Evidence of compliance with the Pension Reform Act 2011. vii. Evidence of compliance with Financial Reporting Council (FRC) of Nigeria (where applicable). viii. Evidence of financial capability from a reputable bank. ix. Verifiable list of similar goods successfully supplied under a single contract in the last five (5) years with a monetary value of not less than Twenty Million naira (N20,000,000.00) only, per year for five (5) years. x. Comprehensive Company Profile with convincing proof of competence or production capacity to undertake the jobs within the required time frame. xi. Evidence of technical, operational and managerial staff with relevant work experience in regards to the scope of work. xii. Any other relevant document(s) that will place the company on a competitive advantage over others. i.

5.0 SUBMISSION OF TENDER DOCUMENTS

Bid documents must be spirally bound and duly signed on each page, the technical documents must be arranged in the order indicated in 4.0 (i-xii) above, completed bid documents should be in two separately sealed envelopes labeled “Technical” and “Financial” (2 envelope system), both put in a bigger envelope clearly marked with the relevant Geo-political zone, Lot number and addressed to: The Director General, National Youth Service Corps, Yakubu Gowon House, 416 Tigris Crescent, Off Aguiyi Ironsi Street, Maitama – Abuja. Tender submission will close by 11.00 am on Monday, 13th July, 2015. Companies submitting tenders most sign the tender register at the reception desk before dropping the tender into the tender box at the Tenders Board Secretariat, Procurement Department, 3rd Floor, Wing ‘B’ Room 317, NYSC Directorate Headquarters, Yakubu Gowon House, Maitama-Abuja. Incorrectly labeled and late tenders will be rejected.

6.0 OPENING OF TENDERS

Opening of the bid shall commence immediately following the submission deadline at 11.00 am on Monday, 13th July, 2015 at the Conference Hall, 6th Floor, NYSC NDHQ, Maitama, Abuja. Representatives of bidding companies, members of the public and Civil Rights organisations are invited to witness the Bid opening exercise.

7.0 GENERAL INFORMATION i.

Due to complexity of the job and timely delivery, no company shall apply for more than one (1) Lot. ii. Failure to fulfill any of the conditions in 4.0 (i-xii) above shall render an application invalid iii. The National Youth Service Corps (NYSC) shall verify the authenticity of evidence submitted by bidders with the relevant authorities. Any company found to have submitted forged documents will be prosecuted. iv. Nothing in this advert shall be construed to be a commitment by the National Youth Service Corps, nor shall it entitle responding contractors to seek any indemnity from the NYSC by virtue of such contractors having responded to this advertisement/invitation to tender. Signed Management 1st June, 2015.

News

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Six CBN chiefs, 16 bank officials face trial over N8bn fraud Emmanuel Onani Abuja

he Economic and Financial Crimes Commission (EFCC) will tomorrow arraign six top executives of the Central Bank of Nigeria (CBN) and 16 staff of commercial banks before a Federal High Court in Ibadan, the Oyo State capital, over N8 billion fraud. The suspects will be arraigned on a five-count charge bordering on "mega scam involving the theft and recirculation of defaced and mutilated currencies." EFCC's Head of Media and Publicity, Mr. Wilson Uwujaren, in a statement, noted that the suspects were drawn from various business units of the apex bank. They are: Patience Okoro Eye (Abuja), Afo-

labi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran Muniru Adeola (Ibadan), Fatai Yusuf, Adekunle (Head, Security, Ibadan) and Ilori Adekunle Sunday (Akure). Also to be arraigned, according to the statement, are 16 staff of different banks who, the Commission said, had conspired with the CBN staff, to perpetrate the alleged criminal act. New Telegraph, however, learnt yesterday that the fraud was uncovered by the CBN, which reported the case to the EFCC. Uwujaren said: "The EFCC has concluded arrangement to arraign in court, five top executives of the CBN implicated in a mega scam involving the theft and recirculation of defaced and mutilated currencies. "The remaining 16 sus-

pects are drawn from various commercial banks who were found to have conspired with the CBN executives to swing the heist. "All the suspects, who are currently in the custody of the EFCC, are now ruing the day they literally allowed greed and craze for materialism to becloud their sense of judgement and responsibility, when they elected to help themselves to tonnes of defaced naira notes. Instead of carrying out the statutory instruction to destroy the currency, they substituted it with newspapers neatly cut to Naira sizes and proceeded to recycle the defaced and mutilated currency. "The fraud is partly to blame for the failure of government monetary policy over the years as currency mop up exercis-

es by the apex bank failed to check the inflationary pressure on the economy. "The lid on the scam which is widely suspected to have gone on unchecked for years, was blown on November 3, 2014 via a petition to the EFCC alleging that over N6, 575, 549, 370 was cornered and discreetly recycled by light fingered top executives of the CBN at the Ibadan branch. "The suspects, who were members of the Briquetting Panel, plotted their way to infamy on

September 8, 2014, while carrying out a Briquetting exercise at the CBN Branch, Ibadan. "The depositor banks in this instance are Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank. "But while carrying out the assignment, the team were alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1000 notes. “A similar case, according to investigation,

President under fire for secret asset declaration CONTINUED FROM PAGE 5

information therein is correct. Such form will be submitted to the Code of Conduct. "There is a Freedom of Information law, anyone

that wants to access it can approach the Code of Conduct. It is not that you will publish it in newspaper,” Olatoye added. Another lawyer, Olusoji Toki, also stated that

L-R: Wife of the immediate past Akwa Ibom State governor, Mrs. Unoma Akpabio; her husband, Godswill; Governor Udom Emmanuel and his wife, Martha, at an interdenominational service organised for the new administration in Uyo…at the weekend.

NLC, NULGE back Buhari on LG administration Yekeen Nurudeen Abuja

he decision of President Muhammadu Buhari to ensure accountable government at the local government level has received a boost as the Nigerian Labour Congress (NLC) described the approach as a step in the right direction. The president had, in his inaugural speech on May 29, said that his administration would eliminate corruption at the local government level. NLC President, Comrade Ayuba Wabba, said President Buhari hit the bull's eye with such commitment, noting that the local governments in the country have, over the

years, been incapacitated by the overbearing influence of state governments. He told New Telegraph that the joint accounts operated by the state and local governments have turned the latter to mere puppets in the hands of the former, thereby preventing effective governance at the grassroots level. Wabba lamented that the local government system which used to be attractive and accountable has been compromised and lost touch with the masses. While calling on the president to make the local governments politically independent and accountable, the NLC President said the councils should begin to get direct allocation as against what has been the practice where

they are at the mercy of state governments. His words: "What the President said is a welcome development to us. That has always been our stand and the position of the Nigerian Union of Local Government Employees (NULGE). There is a need for oversight function by the President on the local governments. “What I'm saying is that the three tiers of government should play their roles effectively and bring development to the people without interfering in one another's work. “In the last administration, the souls of local governments were hijacked by the state governments who doled out what they liked to them as allocation. This has affected the local gov-

had been discovered on September 22, 2014 when a box that was supposed to contain N500 notes to the tune of N5 billion was filled with old newspapers. "Unlike in the past, this fraud could not be swept under the carpet, as a member of the Briquetting Panel from the Osogbo branch blew the lid on the illicit deal. In a statement, the informant stated that the exercise was designed to last between August 4 and 8, 2014."

ernment in maintaining even the primary health care." He said the labour movement was ready to work and support the new administration to succeed, saying "we will try to come up with suggestions that will help his administration." Meanwhile, NULGE has commended President Buhari for pledging to tackle issues affecting smooth operations of local governments head-on. The President of the union, Mr. Ibrahim Khaleel, who is also a member of 2015 National Conference, made this commendation in a statement he issued in Abuja yesterday. Khaleek said: “I like every bit of the speech; it

was encouraging, assuring and inspirational. Mr President was kind to every Nigerian. “I am particularly happy on his determination to institute a strong intergovernmental platform for each tier of government to operate within limits. “And his willingness to confront the issues in local government head-on is a welcome development,'' he said. Khaleel said Buhari’s declaration to be for everyone and to be for nobody was a clear testimony that he would run a people’s government of justice and fairness. He also said the President's pledge to ensure a responsible and accountable governance at all levels must be his watch words.

there was nothing illegal in the way the president and his deputy declared their assets. "The constitution does not provide that assets should be declared publicly or secretly. It is just out of moral concern that some people make it public. "Once your assets have been declared before the Code of Conduct Bureau, technically it has become a public document. Any Nigerian can access it with the Freedom of Information Act. "The constitution does not say that asset declaration should be made public", Toki stated. Also reacting, a Senior Advocate of Nigeria, Sir Amaechi Nwaiwu, backed the president. He said: "The important thing as provided by the law is to pick a form from the Code of Conduct Bureau, fill it and return it. If you want to make the declaration public, it is a matter of choice, like Yar'Adua made his own public. Some others will just declare it; and by that, you have complied with the law. "There is no crime that you did not declare it publicly. Declaring it publicly or secretly is of no issue. It is a matter of choice." On why the president did not publicly declare his assets as he had promised, his spokesman, Mr. Garba Shehu, told New Telegraph that he had no answer to that. Shehu, in a response to New Telegraph's inquiry, said: " l am sorry l don't have that information. I am sorry l don't have it." The National Publicity Secretary of the All Progressives Congress (APC), Alhaji Lai Mohammed, could not be reached on his mobile phone. However, Mohammed had earlier stated that there was a procedure for asset declaration and that the president was going to follow it.

NEW TELEGRAPH monday, june 1, 2015

News

national

Nigeria's crude production slips in May — Survey Adeola Yusuf

rude production in Nigeria slipped in May even as the Organisation of Petroleum Exporting Countries (OPEC’s) oil supply for the month climbed further to its highest in more than two years. The fall in May output came hours after Eni said that audit into $1.09 billion acquisition of Nigeria's OPL-245 offshore oil block found no evidence of illegality. Reuters, which reported the dismay in production due to "pipeline leaks that prompted Royal Dutch Shell's local venture to declare force majeure on exports from the Forcados stream," said that OPEC's twoyear record output was buoyed by "increasing Angolan exports and record or near-record output from Saudi Arabia and Iraq outweighed outages in smaller producers.” The boost from the OPEC, according to a survey by Reuters, puts output further above its target of 30 million barrels per day (bpd), underlining the focus of top exporter Saudi Arabia and other key members on market share. OPEC supply rose in May to 31.22 million bpd from a revised 31.16 million bpd in April, accord-

ing to the survey, based on shipping data and information from sources at oil companies, OPEC and consultants. The group meets on Friday and is not expected to alter its policy as oil has risen to $65 a barrel from a low close to $45 in January and there are signs of slowing growth in the higher-cost supplies that have been eroding OPEC's market share. If the total remains unrevised, May's supply would be OPEC's highest since it pumped 31.53 million bpd in August 2012, based on Reuters surveys. The biggest increase came from Angola, which exported 58 cargoes in May, more than originally planned in April, according to loading schedules. Top exporter Saudi Arabia has not reduced output from April's record high of 10.30 million bpd, sources in the survey said, as it meets higher demand from export customers and in domestic power plants. "Of the countries with lower output, Libya posted a decline as more supply was disrupted by unrest, and production in Nigeria slipped because of pipeline leaks that prompted Royal Dutch Shell's local venture to declare force majeure on exports from the Forcados stream," the survey stated.

Alleged corruption: EFCC keeps mum over Nyako Emmanuel Onani

Abuja

he Economic and Financial Crimes Commission (EFCC), has kept mum over the fate of former Governor of Adamawa State, Vice Admiral Murtala Nyako (rtd), 24 hours after his return to the country. Nyako, who was impeached by the Adamawa State House of Assembly in July, 2014, had fled the country, ostensibly to evade possible arrest by operatives of the EFCC, who had placed Nyako's administration under investigation, before the lawmakers struck. The operatives, it will be recalled, had quizzed some senior government officials, including then

Secretary to Adamawa State government as well as Nyako's Commissioner for Finance. Consequently, the anti-graft agency declared the former governor and his son, Abdulaziz, wanted. They were declared wanted in a case of alleged criminal conspiracy, abuse of office and money laundering. However, efforts by New Telegraph to get the anti-corruption commission to disclose its next line of action, now that Nyako is said to be back in the country, proved abortive, as its Head of Media and Publicity, Mr. Wilson Uwujaren, did not pick calls made to his phone. He did not reply to a text message sent to him as at the time of filing this report.

L-R: Former Minister of Industry, Trade and Investment, Mr. Olusegun Aganga; Director-General, Standard Organisation of Nigeria (SON), Dr. Joseph Odumodu and Permanent Secretary, Ministry of Industry, Trade and Investment, Ambassador Abdulkadir Musa, during the presentation of a Lifetime Achievement Award to the Minister by the Chief Executive Officers of agencies in Abuja

Buhari appoints Adesina, Shehu, spokespersons

My blood, sugar level rose during NDLEA’s siege — Kashamu

l Adesina's appointment well deserved, says Kalu

resident Muhammadu Buhari yesterday announced the first set of appointments into his administration. The President, named Mr Femi Adesina and Mallam . Garba Shehu as his spokesmen. Adesina will serve as Special Adviser ,Media and Publicity, while Shehu will be the Senior Special Assistant Media and Publicity. The statement for the appointments was made by Shehu. Adesina until the appointment was President of the Nigerian Guild of Editors (NGE) and Managing Director/Editor-in-Chief of The Sun newspapers. Shehu served as the Director, Media and Publicity of the APC Presidential Campaign Council. He was the President of the Nigerian Guild of Editors 16 years ago. Buhari also approved the appointment of Mal. Lawal Abdullahi Kazaure as the State Chief of Protocol (SCOP). Kazaure is a career Foreign Service official and currently serves in Aso Rock Villa as a Special Assistant on Presidential Matters. Meanwhile, the Publisher of The Sun and New Telegraph newspapers and former Governor of Abia State, Dr Orji Kalu has commended the President for appointing Adesina as the Presidential Spokesperson. He described Ad-

esina as an advocate of good governance, who believes in objective and balanced journalism without minding the consequences. The former governor in a congratulatory message signed by his Special Adviser, Prince Kunle Oyewumi, said, " the news of Mr. Adesina's appointment as Presidential Spokesman did not come to me as a surprise because Adesina had distinguished himself in the media profession and merits the appointment by all standards". "Having worked closely with Adesina in Sun newspaper for over 12 years and with his track records of achievements in different capacities and positions, I have no doubt that he will uphold the ethics and ideals of the profession while discharging his duties and responsibilities. The President should be rest assured that the entire media stakeholders will support the newly appointed media aide in promoting Nigeria's growing democracy,” he added. Kalu, while noting that the position of Presidential Spokesman is sensitive and challenging, urged Adesina to be steadfast and committed to the new Nigeria project anchored on good governance. He wished the new media aide a robust success in his new assignment.

Wale Elegbede enator-elect, Ogun East Senatorial District, Prince Buruji Kashamu, has recounted his experience during the six- day siege on his house by officials of the National Drug Law Enforcement Agency (NDLEA), stating that his blood and sugar levels rose astronomically during the period. In a statement issued yesterday in Lagos, Kashamu eulogised the media, the judiciary, civil society organisations, student and professional groups and other publicspirited Nigerians home and abroad for standing by him through his ordeal, stating that he has been traumatised and

unjustly victimized. He said: “For the six days, I was denied access to my doctors despite having challenges with my blood and sugar levels. They rose astronomically, yet they would not budge. So, quite naturally, after those who illegally invaded my house left on Thursday night, I was rushed to a private hospital where I am presently receiving treatment. “I apologise to my neighbours in Lekki Phase 1, especially the management, members of staff and pupils of The Lagoon School, who could not open the school throughout last week because of the barricade mounted by the fully armed and stern-looking NDLEA operatives."

Dana Aircrash victims’ families still await compensation Clem Khena-Ogbena

ome families of the Dana plane crash victims are yet to be compensated, three years after the crash. The Chairman, families of victims, Mr. Paul Okwulehie, made the disclosure at the weekend in Abuja, on behalf of the affected families, at the Third Anniversary of the ill-fated Dana Plane (Flight 9J922) which crashed on June 3, 2012. While calling for a globally applied uniform standard for the aviation industry, Okwulehie also suggested that planes which were rejected and not useable in countries or economies with the right safety standard should not be sold to poorer countries that did not have the

standard facilities for optimal maintenance of such planes. He stated, “We call upon all countries to establish and show a regular review and update emergency rescue (not recovery) plan, covering all possible accident scenarios in the country, based on current and projectable aviation history”. Also, he called for sustained global and national effort to locate all missing passenger aircraft, including the Malaysian aircraft MH370, among others, and to establish the cause of such accidents. The victims’ families insisted that carriers with poor safety records should not be awarded with the best airline of any year, since safety must be first in the aviation industry globally.

MONDAY,JUNE 1, 2015 NEW TELEGRAPH

Metro

Ehianaguan

Ehianaguan’s wife

Wife bathes husband with hot water SCORNED WOMAN A housewife, seeking revenge, pours hot water on her hubby Taiwo Jimoh

n angry housewife has bathed her husband, a policeman, with hot water after he beat her at ‘Car Wash’ area

Taiwo Jimoh

embers of the Amalgamated Commercial Motorcycles Owners and Riders Association of Nigeria (ACOMORAN), Eg-

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

of Egbeda-Idimu in Lagos State. Neighbours said that the policeman, Charles Ehianaguan, 40, was always beating his wife, Esther. One of them said: “The man is always maltreating his wife. He would beat her over the slightest provocation. The woman had been enduring the beating for too long. I guess she was tired of it and decided to hit back.” Last Sunday, Esther seemed

to have had enough of the beating. Ehianaguan, attached to Area F Police Command, Logistics and Supply Unit, Ikeja, Lagos, as usual on that fateful day, had pounced on Esther and given her the beating of her life. After pummeling her that morning, he went out of the house. After he left home, his wife boiled water and waited for him to return. Although it was getting late, the fuming woman repeatedly kept the water hot.

As he was returning around 8pm, she heard his footsteps and went to the doorway. As soon as she sighted him, she poured the hot water on him. Ehianaguan’s cries of pain almost brought their building at Unity Estate, Zone 2, down. It was alleged that Esther, a foodstuff seller in the neighborhood, was often left by Ehianaguan to shoulder the financial burden in the home and carter for their children. This apparently was what used to lead to most of their quarrels.

A resident, who did not want her name in print, said she was outside her shop when she noticed the policeman, rushing towards the bus stop. She said: “I was outside my shop, attending to customers when I saw him running towards the bus stop, shouting hot water! Hot water! We are from the same village in Edo State, so I had to run after him to Egbeda Police Station. He lodged a complaint about the incident. When some of his colleagues at the police station who knew him, heard that his wife poured hot water on him, they advised him to go home and settle with his wife. “We left the station for Igando General Hospital where first aid was immediately administered on him. He was asked to make a deposit. But we had to leave when he could not make the deposit.” When our correspondent visited Ehianaguan’s residence at No 8, Funsho Abatan Street, Egbeda, he denied the allegation that his wife bathed him with hot water. He said: “Truly, I had a disagreement with my wife before I left home that fateful day, but when I came back, the whole compound was dark. There was no light. I did not know that my wife kept hot water on the floor. I fell into the water. “I went to Igando General Hospital. When I could not afford the money they asked me to pay, I left for Police Training School Cottage Hospital, where I’m receiving treatment.” When Esther was asked to state what transpired, she said: “My husband has said it all.” Another resident, who identified himself simply as John, said that the policeman lied about the incident. He said: “I was at our motorcycle park when I saw him with the wound. I approached him, to find out what happened. He told me that it was his wife who poured hot water on him. I wonder why he lied to you. What I have noticed about the couple is that they are not on good terms. They used to fight.

Save us from police harassment, cyclists urge Ambode beda-Akowonjo branch, have appealed to Governor Akinwunmi Ambode of Lagos State and the Commissioner of Police, Mr Kayode Aderanti, to stop policemen from harassing them. The ACOMORAN Chairman, Mr Ogundare Olaoluwa, made the call during a solidarity rally for Ambode and President Muhammadu Buhari. He said: “We have complied with the restriction of movement on the highways from the previous government, but

policemen are still coming after our members who are plying the inner streets. “We are not defaulters of the law. We are tired of the incessant harassment and extortion from policemen. We want the governor to intervene and order these policemen to stop seizing our members’ motorcycles. “I believe there are enormous responsibilities on Ambode’s shoulders and the expectations of residents of Lagos are high, but I want him to look into our plight and con-

sider us. It is from this business that we feed and train our families.” Olaoluwa added that youths, who would have embraced crime, were now riding motorcycles to make the ends meet. He, however, appealed to Buhari to look into the fuel scarcity issue. The chairman said that if the fuel crisis was not resolved, motorcyclists would soon go out of business. The General Secretary of

the association, Adekunle Odewale, said they organised the rally to show to Ambode and Buhari that they were solidly behind them. He said: “I want the present government to give us more roads to ply in the state, away from the prohibited ones. We want the government to lift the prohibition on Oguntade Shasha Road. This particular road is important to our business. We used to pick more passengers along that stretch of road.”

Metro 11

NEW TELEGRAPH MONDAY,JUNE 1, 2015

City Briefs Residents cry out over stop-and-search Camillus Nnaji

he residents of Old Ewu Road near Night market, Omilade Street Junction, off Oshodi Road and Mafoluku Junction, off Airport Road by Zenith Bank are calling on the Lagos State Commissioner of Police, Mr Kayode Aderanti, to save them from policemen who used to harass them. Some of the residents said the policemen, usually seven and in mufti, used to hang around the areas. Once they see residents passing, they would jump out from their corners and start harassing them. The policemen are usually with their AK47 rifles. One of the residents, simply identified as Alex, said: “They will just order you to stop and start searching you for no reason. This has been going on for too long. We are citizens of Nigeria and should not be made to undergo such search and harassment every day.” Our correspondent, who visited the area, saw the policemen subject passers-by to thorough search.

NOWA donates food items to patients, orphanage Flora Onwudiwe

s part of activities marking 59th anniversary of the Nigerian Navy, the Naval Officers’ Wives Association (NOWA) has donated food items to patients and an orphanage. The association led by its Zonal Coordinator, Mrs Regina Ango, also paid a courtesy visit to the Flag Officer Commanding (FOC), Western Naval Command (WNC), Rear Admiral Jonathan Ango. Mrs Ango said it was the association’s maiden official visit to the command, adding that it was to appreciate the endless efforts of the FOC’s contribution to the growth of Navy and the country. She said: “We also want to congratulate the FOC on his assumption of duty to the command since December 2014. “NOWA has also deemed it fit to play a vital role in the ongoing anniversary of the Nigerian Navy by giving to the society.” The NOWA team also visited the Nigerian Navy Reference Hospital, Ojo and donated provisions to the patients. The association visited each ward in the hospital to present the gift items to the patients.

CP, AIG’s driver held for robbery Flora Onwudiwe

fter working with a Commissioner of Police (CP) and an Assistant Inspector General of Police (AIG), it is expected that Mr Oliver Dike should be a role model to those looking up to him for guidance. But rather than become a great man in his community, Dike was sponsoring armed robbers to snatch exotic cars. Dike, otherwise known as Mopol in the underworld, was arrested while he was in police uniform. He was apprehended at Sagamu section of the Lagos-Ibadan Expressway. The 35-year-old suspect was nabbed by the Special Anti-Robbery Squad (SARS), Ikeja, Lagos State, led by Superintendent of Police (SP), Abba Kyari, with a fake police identity card. A police source said: “Police started the search for Dike in April 2015 after two armed robbery suspects - Akinropo Ogunsina and Jimoh Akeem - mentioned his name during interrogation that he was the receiver of the cars they used to snatch. “Ogunsina confessed that his gang snatched two Honda Accord 230 model cars and Sienna bus and sold to Dike. Unaware that Ogunsina had been arrested, Dike repeatedly kept calling Ogunsina’s phone, asking if he had another snatched car for sale.” According to Ogunsina, Dike bought two cars for N280,000 and was requesting for Toyota Highlander ‘Jeep,’ Toyota Corolla 2014 model and Honda Accord before his arrest. The state Police Public Relations Officer (PPRO), Kenneth Nwosu, confirmed the arrest of the suspects. Nwosu said it was in the process of receiving the Toyota Highlander that Dike

Dike

was arrested. According to the PPRO, N200,000, which he wanted to use to pay for the stolen car, was recovered from him. He said: “When the police came in contact with him, he identified himself as a police corporal. He had a police identity card with him. The police team went along with him to his house in Abuja for a search. They recovered a complete police uniform. The police also recovered one of the cars, a Honda Accord he bought from Ogunsina in his house.” The state Commissioner

of Police, Mr Kayode Aderanti, has ordered detectives to ensure that members of the gang are brought to book. Dike, a father of one, said he was a motor spare parts dealer with a shop at Zuba motor park, Abuja, before he took to crime. He said: “In 2004, I went to sell motor parts to a Deputy Commissioner of Police (DCP). He is now retired after being promoted to the rank of a Commissioner of Police. We became friends. I told him that I would like to work for him as his driver and do some other domestic chores for him. He agreed. I

Oil pipeline vandals kill three policemen, driver Muhammad Bashir Lokoja

rmed men suspected to be oil pipeline vandals yesterday killed three policemen and a tanker driver at Oguda in Okene Local Government Area of Kogi State. It was gathered that Oguda, close to the boundary between Kogi and Edo states, is a haven for vandals who siphon petroleum products from the Nigerian National Petroleum

Corporation (NNPC) pipeline. A source said though no one could really ascertain what happened, the police might have had a gun battle with vandals in the area. The source added that sporadic gunshots were heard from that direction where bunkering activities usually take place. He said: “People only saw the bodies a few hours after the gunshots subsided.”

When contacted, the state Commissioner of Police, Samuel Ogunjemilusi, confirmed the casualty figure. The commissioner said it was not really clear how it happened but they were suspecting it was the handiwork of oil pipeline vandals. He, however, solicited useful information from the public that would enable the police to apprehend the culprits.

File picture of oil pipeline vandals

left the motor parts business for my younger brother and started working for the DCP. “I started living in his house. I used to drive him to work and other places. In 2005, he was sent to War College and later became a Commissioner of Police (CP). He retired in 2012. “After he retired, all his boys, including me, were transferred to the new CP that took over from him. The new CP was later appointed as an Assistant Inspector General of Police (AIG) before he retired. Since then, I stopped working for him.” Dike confessed that the police identity card found on him was that of the police orderly, named Udeka. Udeka was an orderly to the first CP who retired. Dike said: “Udeka asked me to assist him to collect his identity card from Yenagoa, capital of Bayelsa State, where we last worked. He said that I should bring it to Abuja for him. But I have not given it to him. As for the police uniform, I evacuated it from the dry cleaner who does the dry cleaning of our master’s uniform in Yenagoa. I brought it to Abuja and kept it in my house.” The suspect said the police arrested him because he came to buy a Highlander ‘Jeep’ from Danjuma, otherwise known as Ogunsina.

12 News Publish convicted, acquitted, tried cases, Tsav tells EFCC, ICPC bosses Cephas Iorhemen MAKURDI

n anti-corruption crusader, Alhaji Abubakar Tsav has challenged the helmsmen of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde and that of the Independent Corrupt Practices and other related offences Commission (ICPC), Ekpo Nta to make public the number of cases they have prosecuted, convicted as well as those tried and acquitted to show Nigerians that they are really not toothless bulldogs. Tsav said the long silence kept by the two anti-graft agencies in their fight against corruption since the regime of former president Goodluck Ebele Jonathan amidst cases of corruption by top brass in that administration was indeed a thing of worry to well-meaning Nigerians who want the country to move forward. Speaking in an exclusive interview with New Telegraph in his Makurdi residence, Alhaji Tsav, a former Lagos State Commissioner of Police, tasked the duo of the anti-corruption bodies to demonstrate before the citizens that they are working.

monday, june 1, 2015 NEW TELEGRAPH

national

Buhari, Osinbajo yet to occupy Aso Rock residence Anule Emmanuel

hree days after they took oaths of office and allegiance, President Muhammadu Buhari and his Vice Professor Yemi Osinbajo, have yet to move into the Presidential Villa, Abuja. It was gathered, that the two new leaders have been moving in and out of the presidential villa

since their inauguration. The first official function performed by President Buhari and Vicepresident, Osinbajo was the Luncheon hosted for visiting Heads of States and Presidents who attended the inauguration ceremony at the new Banquet Hall which was built by the immediate past president, Dr. Goodluck Jonathan. President Buhari who did not stay till the end of

the Luncheon performed his second official public function when he hosted guests at the Gala night organised shortly after his inauguration ceremony. The event was attended by former President Olusegun Obasanjo, Chief Earnest Shonekan, speaker of the House of Representatives and members of the diplomatic corps. New Telegraph investigation showed that

construction giant Julius Berger is yet to complete renovation work on both the official residents of the President and his Vice. While President Buhari is still residing at the Defence House where he has been staying since he won the March 29 presidential election, Vice President Osinbajo continuous to live in a private apartment somewhere in Abuja city. Presidency sources

confirmed that both former President Jonathan and his Vice Sambo did not pack completely out of their official residences to allow Julius Berger commence renovation on time. The source who pleaded anonymity said: "Both of them in fact only completely packed their personal belongings on the evening of May 28 a day to the inauguration ceremony. You know that it will not be proper for repairs to gone on while they are still there".

Give new govt a chance, Nkire tells striking workers

L-R: Member, National Assembly of South Korea, Mr. Parker Dae Dong; Senate President, David Mark; President of the Republic of South Korea, Mr. Lee Ju-Young and member, National Assembly of South Korea, Mr. Lee Nogeun, during Ju-Young’s visit to Mark in Abuja …at the weekend.

member of the Board of Trustees of the All Progressives Congress (APC), Chief Sam Nkire, has appealed to all striking workers and all those intending to go on strike soon, for whatever reasons, to give President Muhammadu Buhari a chance to settle down. Nkire, who spoke in Abuja at the weekend, said Buhari was aware of the plight of the average Nigerian worker in the past 16 years of the PDP regime but needed a little time to address them. The APC stalwart said it would not be wise for workers and trade unions to embark on any action capable of bringing the country to its knees just when a workerfriendly, President is inaugurated.

AmbassaNigeria, Singapore relationship Mohammed’s aides accused Nigeria’s dor to the Republic of Singapore, Her Excelof looting FCTA property lency, Mrs. Nonye Rajis- profitable, says Envoy

Nigeria’ll be great under Buhari, says ACOMORAN

Yekeen Nurudeen ABUJA

s the new administration is poised to settle down for business of governance, some of the political aides to the immediate past minister of the Federal Capital Territory Administration, Senator Bala Mohammed, have embarked on mass looting of properties in the respective offices they occupied, New Telegraph can authoritatively report. It was learnt that before the official hand-over, some office equipment such as LCD television set of various sizes, office printing machines, and fridges procured by the administration were carted away by political aides. Findings revealed that the political aides instructed their drivers and other junior staff attached to their offices to carry out the removal of those items on or before May 29.

It was gathered that a number of the office equipment were successfully carted away before security operatives at the FCTA headquarters got wind of the development. Worried by this ugly development, the FCT Administration had last week ordered the security operatives manning the entrance of the minister's gate to subject every vehicle to thorough scrutiny before leaving the premises. Some of the staff who spoke to our correspondent on the development described the act as shameful and embarrassing, even as they insisted that the administration must carry out an inventory of all the office equipment looted from various offices. One of the staff, who spoke on the condition of anonymity, stressed that despite the severance allowances paid to these political aides, they condescended to looting of television sets and office printers.

Opara, has described the bilateral relationship between Nigeria and Singapore as profitable and impacting to both countries. Speaking on a Television program monitored in Lagos, the envoy said relations between Nigeria and Singapore has multiplied in folds since she took over in 2012, stating that she has been able to upgrade the mission for effective and efficient service. She said, “Nigeria’s economic tie with Singapore has continued to grow over the years. The key features of the Investment Promotion and Protection Agreement (IPPA) include nondiscriminatory, fair and equitable treatment for Nigerian investors and investments in Singapore, and vice versa.” Speaking on the Double Taxation Agreement between the two countries, she said, “The DTA, between Nigeria and Singapore has been outstanding since 2008. Avoidance of Double Taxation Agree-

ment (DTA), serves to relieve double taxation of income that is earned in one country by a resident of the other country. “When signed, the DTA, will make clear the taxing rights between Nigeria and Singapore, on the different types of income arising from crossborder economic activities. It will also provide a reduction or exemption of tax on certain types of income,” she said.

“There is currently one functioning bilateral agreement between Nigeria and Singapore which is, the Bilateral Air Service Agreement (BASA) Cargo Services. The cargo services commenced operations between Nigeria and Singapore in 2012. Negotiations on the Bilateral Air Service Agreement (Passenger Fights) and the Avoidance of Double Taxation Agreement (DTA), has been concluded.

PUBLIC NOTICE

NASIRU AKINLADE ISLAMIC FOUNDATION

The is to inform the general public that the above named FOUNDATION has applied to the Corporate Affairs Commission for incorporation under part ‘C’ of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Akinola Olaolu — President 2. Akinlade Rilwan Ayoola — Secretary 3. Akinlade Yusuf Afolabi — Treasurer AIMS AND OBJECTIVES 1. To preach peace in the society. 2. To help less priviledged. 3. To foster unity and propagate Islamic religion in our community 4. To encourage the commitment of the Muslim community to the ideals of an Islamic oriented and civilized society. Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: CHIEF M.A.O ADEBAYO

Taiwo Jimoh

he chairman Amalgamated Commercial Motorcycles Owners and Riders Association of Nigeria [ACOMORAN], Egbeda Akowonjo, Lagos Branch, Mr. Ogundare Olaoluwa alias ‘Eba’ has said that the swearing- in of President Muhammad Buhari and Akinwunmi Ambode signify a new hope for Lagos and Nigeria in general. Olaoluwa stated this yesterday during the association’s solidarity rally for the president and the governor. He urged Ambode to consolidate on the legacy left behind by the former governors Bola Tinubu and Babatunde Fashola. He said the victory of Ambode and president Buhari was well-deserved and could not have come at a better time than now when the vast majority of Nigerians were yearning for a change, which coincidentally was the All Progressive Congress campaign slogan.

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Interview

Buhari should not spare looters – Mustapha

Politics Goodbye to Govt Houses On May 29, 20 governors bid their states farewell after serving out their terms or their return bid truncated by ferocious opposition. PHILIP NYAM writes that except the few former governors who are transforming into legislators, some others are likely going into political oblivion

rior to the March 28 and April 11, 2015 general elections, state governors were the most dreaded elected officials in the country. They wielded enormous powers that some commentators tend to address them as emperors. They run the government in the state and control party machinery both at the state and national levels. As a result, no governor or his candidate hardly lost elections. But the introduction of the card readers has changed the entire scenario and most of them have been reduced to paper tigers. Hence, at the end of the general elections, quite a number of them have been left licking their political wounds, while a few who aspired for the Senate won, others decided not to contest with the end of their second tenure. Out of the 36 states, gubernatorial election was conducted in 29 states while similar election had earlier held in Ekiti and Osun states in 2014. The governorship elections in Anambra, Bayelsa, Edo, Kogi and Ondo states are to hold at different times in 2016. Out of the 29 states, only nine old governors are returning while 20 of them are bidding farewell to the Government Houses. The returnees are: Governors Kashim Shettima (Borno), Ibrahim Dankwambo (Gombe), Rochas Okorocha (Imo), Umaru Tanko Al-Makura

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

Amaechi

Kwankwaso

Chime

Imoke

Fashola

Aliyu

(Nasarawa), Abdulfatah Ahmed (Kwara), Abiola Ajimobi (Oyo), Ibikunle Amosun (Ogun) Ibrahim Gaidam (Yobe) and Abdulaziz Yari (Zamfara). While Governors Rabiu Musa Kwankwaso (Kano), Aliyu Wamakko (Sokoto), Babatunde Fashola (Lagos), Godswill Akpabio (Akwa Ibom), Emmanuel Uduaghan (Delta), Liyel Imoke (Cross River), Theodore Orji (Abia) and Sullivan Chime (Enugu) were able to deliver their states to their parties, the likes of Mu’azu Babangida Aliyu (Niger), Jonah Jang (Plateau), Isa Yuguda (Bauchi), Ibrahim Shema (Katsina), Gabriel Suswam (Benue), Usman Dakingari (Kebbi), Sule Lamido (Jigawa), Rotimi Amaechi (Rivers) and Martin Elechi (Ebonyi) lost in their bid to move to the Senate as well as get

He revels in political crisis and has won several political duels since 2007

their anointed candidates installed as governors respectively. On May 29, these governors left their various State Government Houses, but the questions are: What will be their political future? How many of them are going to be part of the new administration? How many of them will still be relevant in the political calculus of the Muhammadu Buhari administration? For those who lost in their bid to be senators, would they bounce back or go into political oblivion? Rotimi Amaechi (Rivers) It will not be out of place to describe Amaechi as a cat with nine lives. He is one of the most controversial former governors yet the most determined, courageous and successful. He revels in

political crisis and has won several political duels since 2007. In 2007, he reclaimed his mandate in controversial circumstances through a historic Supreme Court ruling that shook the judiciary in the country. Since then, the former Rivers State governor fought many other political battles. Regarded by many as one of the shinning stars of the change mantra that facilitated the victory of General Buhari in the last presidential election, Amaechi has served out his second term but did not contest for any elective office. The gregarious and controversial former governor was the Director General of the All Progressives Congress (APC) Presidential Campaign Council. He is set to partake in goverCONTINUED ON PAGE 14

Politics

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

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

nance at the national level. As the director general and a strategic player in the mobilisation and alliance that ensured General Buhari’s victory, Amaechi will be influential in the new government. Buhari’s victory has indeed feathered his political nest, which may continue to soar. He is the indisputable leader of the APC in the South-South and will continue to call the shots at least for the next four years. Before the elections, he had a running battle with outgone President Goodluck Jonathan, instigated by the former First Lady, Dame Patience. The no love lost between him and Jonathan consequently extended to the Nigerian Governors’ Forum (NGF) where a faction loyal to the former president set up a parallel body after Amaechi trashed Governor Jang of Plateau State in a transparent election. He later joined his colleagues to float the New PDP and was suspended indefinitely from the PDP. He defected to the APC, survived several impeachment attempts and clashed with the security agencies a couple of times. His battles with AIG Joseph Mbu, then Commissioner of Police in Rivers State would not be forgotten in a hurry. The only battle Amaechi has lost is the governorship election, where his candidate, Dakuku Peterside, lost to Barrister Nyesom Wike of the PDP. Wike scored 1,029,102 while Peterside polled 124,896 votes. Peterside has since taken the case to the election tribunal to challenge Wike’s emergence. The election in Rivers has been described by many including international observers as a sham; a point Amaechi, Peterside and APC are hinging their case on. Sullivan Chime The outgone governor of Enugu State like Amaechi did not contest in the general elections. But his anointed candidate, Hon. Ifeanyi Ugwuanyi, was elected in the April 11 gubernatorial election. With the loss of PDP at the national level, Chime may settle down to play the role of godfather. Having served as governor for two terms and judging by his antecedents, Chime is in a pole position to metamorphose into a full-time godfather outside Government House. In the run up to the general elections, Chime had a running battle with the Deputy Senate President, Ike Ekweremadu over his bid to displace the senator. The governor’s ambition caused a lot of ripples in the party and was almost torn apart. But the national executive and the Presidency waded into the matter and was able to impress on Chime to leave the ticket for Ekweremadu. In the governorship primaries of the PDP, he frustrated every other aspirant and pitched tent with Ugwuanyi. In spite of the opposition from aggrieved aspirants such as chairman of the Senate Committee on Works, Senator Ayogu Eze, Chime was unfazed until he ensured that Ugwuanyi emerged victorious in the gubernatorial polls. Chime, like Amaechi, has also been controversial. He caused his erstwhile deputy, Sunday Onyebuchi, to be impeached on allegations of operating a poultry farm in the Government House. Onyebuchi was subsequently redeployed to

Uduaghan

Shema

Akpabio

Yuguda

Suswam

Lamido

Mixed fortunes of ex-govs the state civil service.

Muazu Babangida Aliyu The former Niger State governor remains one of the most inconsistent state chief executives in the outgone dispensation. Politically, he has lost it all and it may take him a long while to recover from the electoral tragedy that has befallen him. Aliyu lost his Senatorial bid to his old political foe, Senator David Umaru of the APC. His political career has begun a downward slide and may descend into oblivion should he not make conscious efforts to get himself back on track. The PDP has lost the Presidency and his state has been taken over by the APC, meaning that he has no where to exert any influence. Aliyu, who just handed over as chairman of the Northern States Governors’ Forum (NSGF), was defeated in the nine local government areas of the Niger East Senatorial District. As a sitting governor, it was so embarrassing that a serving governor could only manage to garner 46,459 votes as against 149,443 votes recorded by his opponent, Umaru, indicating that the people are disenchanted with his leadership. The Chief Servant anointed governorship candidate, Alhaji Gado Nasko, was defeated by the APC’s Alhaji Sani Bello thereby ending his eight year hold on the state ignominiously. He has been described by the likes of Amaechi and Kwankwaso as a betrayer because after

agreeing to move en masse into the APC from the New PDP, Aliyu and Governor Sule Lamido of Jigawa State retreated when the other five moved. The duo suddenly became campaigners for President Jonathan whom they had as a common enemy two years back. It was the same Aliyu who championed the cause for the zoning of the Presidency to the North kicking against Jonathan’s bid for a second term. In fact, the former Niger governor was the one who disclosed that Jonathan had entered a written agreement that he would run for only one term.

As it is today, Kwankwaso has effectively taken full control of Kano politics

Emmanuel Uduaghan Uduaghan did not contest for any elective position and is also leaving after eight years in office. Even though a cousin to the jailed former governor, Chief James Ibori, he has been very supportive of President Jonathan. Uduaghan had wanted to contest for a in, the Senate but was prevailed upon to drop his ambition for Senator James Manager to continue representing Delta Central. The former governor’s ambition almost tore the party into shreds. In his eight years as governor, he had a swell time until his last year in office, whereby he could not install his preferred candidate, Tony Obuh as the PDP governorship nominee. Although his candidate failed to make it at the primaries, he ensured that Senator Ifeanyi Okowa emerged as governor thereby creating history by facilitating the emergence of the

first governor from the Igbo speaking area of Delta. Uduaghan may still be relevant in Delta politics after handover. As one of the governors that gave maximum support to outgone President Jonathan, he would still command some level of influence in the state and the party. Liyel Imoke Senator Imoke is one of the few PDP governors that have exercised absolute control over the party structure in their states and were able to deliver. Although, his control over the party set him against some party chieftains in the state such as the Senate Leader, Senator Victor Ndoma-Egba, Imoke trudged on. Imoke single handedly stopped Ndoma-Egba to have a fourth attempt at the Senate. He instead brought in Hon. John Enoh from the House of Representatives to replace the Senate Leader. His name has featured prominently amongst the likely candidates for the PDP national chairmanship. He will definitely play a major role in the politics of Cross River for sometime to come and the PDP at the national level. The outgone governor was also able to ensure that his anointed candidate, Prof. Benedict Ayade, emerged as the governor of the state in the last general elections. He virtually foisted the senator on the party and campaigned vigorously for him to win the election. In fact, the former governor was able to install his own people in most of the key elective positions

Politics

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Jang

in the state. Apart from Enoh, he ensured that Hon. Rose Okoh, also a member of the House of Representatives crossed over to the Senate. Babatunde Fashola Fashola is one of the most outstanding governors in the immediate past dispensation. His achievements in Lagos in the last eight years have been acknowledged by many. Based on his performance, Fashola is touted to be one of the pillars of the Buhari administration. He may man one of the key ministries in the Buhari government. Although, Fashola’s preferred aspirant, Olasupo Sasore, for the office of governor was defeated at the APC primaries by Governor Akinwunmi Ambode, he gave maximum support to the candidate to emerge. With his antecedents as a performer, Fashola will surely be part of government in the next four years. He may be overshadowed by the larger than life influence of Asiwaju Ahmed Tinubu, but he cannot be lost in the politics of Lagos State and the APC in general. Bala Ngillari Nigillari is one of the luckiest deputy governors privileged to succeed their principals. He was the deputy to the impeached governor of Adamawa State, Admiral Murtala Nyako but fought his way back through the court and was installed as the governor. However, due to high wire intrigues within the PDP, he was forced to drop his ambition to seek election in the April 11 governorship election and supported former chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu. Even when he was handed with PDP senatorial ticket, he lost to the APC candidate. Ngillari, a former member of the House of Representatives, is not so influential in the state and with the defeat of PDP in the last election; he may find it difficult to play a leadership role even in the state. The way the party is structured in Adamawa, he may not wield substantial powers in the scheme of things in the PDP and the state as a whole. Danbaba Suntai Most people may have forgotten that Danbaba Suntai was the substantive governor of Taraba State until May 29. Since he was involved in an unfortunate plane crash flew by him in 2012, the former governor never performed

Elechi Going to Senate

Yero Lost Senatorial Election Lost re-election

Godswill Akpabio Gabriel Suswam Theodore Orji

Bala Ngillari

Mukhtar Yero

Wamakko Waiting on Buhari

Uncertain Political Future

Babatunde Fashola

Ibrahim Shema

Rotimi Amaechi

Liyel Imoke

Rabiu Kwankwaso Isa Yuguda

Sullivan Chime

Aliyu Wamakko

Babangida Aliyu

Emmanuel Uduaghan

Jonah Jang

Sa’idu Dakingari

Martin Elechi Danbaba Suntai Sule Lamido

any official duty. Shortly before the accident, Suntai played an active role in the impeachment of his deputy, Alhaji Sani Danladi, who incidentally came back as acting governor. Due to his long absence on medical grounds, several attempts were made by his opponents to oust him from office but leaders like the former Defence Minister, General Theophilus Danjuma, rose in his support. After he was hurriedly brought back to the country, his relationship with his then acting governor, Alhaji Garba Umar deteriorated. Since after the ouster of Umar and reinstallation of Danladi as acting governor through the court, Suntai’s camp regained its control over the PDP structure in the state. Umar’s plan of contesting for governorship in 2015 was truncated while a Danjuma ally, Darius Ishaku, was brought in and consequently emerged as governor. The acting governor was rewarded with a Senate ticket and is now senator-elect for Taraba North. As things stands today, Suntai may not be active in Taraba politics after May 29 due to his ill health. He has been bedridden and it seems he may not be active soon. Hence, his influence in the party and state politics will certainly dwindle. By now, he is expected to have been moved out of the Government House where he has been holed. Ibrahim Shema Shema, like some of his colleagues, could not deliver his state – Katsina – to the PDP. Although, he did not contest in the election, the APC trounced his party in virtually every position because of the Buhari factor. A statement credited to him at the beginning of the campaigns for the 2015 elections to the effect that APC members are ‘cockroaches’ and should be ‘killed’ rubbished whatever support his party had in the state. The former governor was one of those that showed interest in the vice presidential slot when rumours were rife that President

Suswam suffered the political misfortune, which some of his colleagues such as Yuguda, Dakingari, Aliyu and Elechi experienced

Jonathan might drop former VicePresident Namadi Sambo for another candidate. Former Speaker of the House of Representatives, Hon. Aminu Bello Masari of the APC, defeated the PDP candidate, Engr. Musa Nashanu, in a landslide. Following Shema’s failure to deliver Katsina State to the PDP and the emergence of Buhari as president, he may find it difficult to find his feet in the state politics. Buhari is a cult figure in Katsina and the North generally and with the likes of Masari who are also well respected in the state in the corridors of power, Shema may be off the political radar for a while. Nevertheless, he will continue to play the role of a godfather in the PDP in the state. Sa’idu Dakingari Dakingari could not withstand the wind of change that blew across the North as he was defeated by the APC candidate, Bello Argungu, in his attempt to move to the Senate. He also failed to produce a successor as the APC routed his party, the PDP, in the state. Dakingari’s eight years as governor of the state were uneventful and his performance is said to be nothing to write home about. Out of office, he may descend into political oblivion and would find it extremely difficult to regain relevance in the state politics. Before the May 29 handover date, Dankingari disappeared from the state. Isa Yuguda Yuguda has been accused of being among the PDP governors that betrayed President Jonathan. As governor of Bauchi State, the president’s convoy was stoned during his campaign visit to the state. He had a strained relationship with the then PDP national chairman, Alhaji Adamu Mu’azu and the immediate past Minister of the Federal Capital Territory (FCT), Senator Bala Mohammed. The no love lost amongst the three costs the PDP both the presidential, governorship and National Assembly elections in the state. In the early days of the Jonathan

administration, he was very close to Aso Rock and was touted as the likely vice presidential candidate to replace Namadi Sambo in 2015. Yuguda lost his bid to represent Bauchi South Senatorial District in the Senate as he was defeated in a landslide victory by Mallam Ali Wakili, a retired Comptroller of Customs who contested on the platform of the APC. He is a businessman and may decide to retire into business and leave politics. But if he remains in politics and keeps faith with the PDP, he may be a likely presidential aspirant in 2019 to challenge the APC. Sule Lamido Lamido and Aliyu played a similar role in the build up to the 2015 general elections. Initially, the Jigawa governor had wanted to challenge President Jonathan for the PDP ticket but his ambition was cut short when all the PDP organs endorsed Jonathan as the sole candidate. He was a member of the New PDP but suddenly retreated when five of the governors crossed over to the APC in protest. He remained in the PDP and many people doubted his commitment to the party even though he continued to lampoon the APC and its presidential candidate, General Buhari. A close ally of former President Olusegun Obasanjo, many had expected that he would quit the PDP after the former leader tore his membership card and bid bye to the party. It was alleged that his children cases with the EFCC was responsible for his inability to leave the PDP, fearing that the anti-corruption agency may be sent after him should he defect to the opposition party. In spite of his posturing, Lamido could not win the state for PDP in the presidential election. Buhari defeated Jonathan candidate with a wide margin. In the governorship election, the PDP candidate, Alhaji Ibrahim Ringim, was also out-powered by the APC standard bearer, Alhaji Badaru Umar. Lamido is out of the country on lesser hajj and was not around to even handover to his successor. Perhaps, he will like to remain with the PDP to contest the 2019 presidential election. But with the current realities on ground, Lamido may be having his last days of dominance in the state politics. He is said to have performed very well in terms of development CONTINUED ON PAGE 16

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

of the state but this could not win votes for his party. This is an indication that the people are tired of his politicking. Jonah Jang The retired military officer against all odds was able to win a Senate seat. The erstwhile factional chairman of the NGF has absolute control over the PDP structure in the state and this informed why he was able to foist his cousin, Senator Gyang Pwajok, as the party’s gubernatorial candidate. This did not go down well with political leaders in the state who fought against him and even supported the opposition candidate. Hence, Senator Pwajok eventually lost to Barrister Simon Lalong of the APC in a keenly contested governorship poll. In the presidential election, Plateau was one of the two states in the North Central to have delivered for the PDP because it has since 1999 being a traditional PDP state. Even with the APC in charge, the PDP will continue to be a force to reckon with and Jang will still be relevant in the scheme of things, especially that he is now a senator. He may not be so influential at the national level but he will make inroads at the state level. Martins Elechi Chief Elechi is the only governor to have lost at the primary election. An old war horse, he could not contain the political might of the immediate past Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim, and former governor, Dr. Sam Egwu. Buoyed by the federal might, Anyim and his group ensured that the then incumbent governor was cut to size. Elechi survived an impeachment threat. The governor’s supporters moved en masse to the Labour Party (LP). His attempt to foist former Health Minister, Prof. Onyebuchi Chukwu, as the PDP candidate was unsuccessful as his deputy, Chief Dave Umahi, who teamed up with the governor’s opponents defeated him. Umahi eventually won the election, defeating Edward Nkwegu of the Labour Party, who was the governor’s preferred candidate. In fact, Elechi’s son, Nnanna, had contested for Ebonyi Central senatorial seat on LP platform but lost to Obinna Ogba of the PDP. Elechi and Umahi were said to have mended their relationship after the elections, but it is clear that the former governor will be rendered politically irrelevant after May 29. A new generation has taken over the state from the governor who has been at the helm of affairs for eight years. Just like Uduaghan, Elechi could not secure senatorial seat and failed to influence the choice of his successor. Muktar Ramalan Yero The former Kaduna State governor lost his return bid to former FCT Minister, Mallam Nasiru ElRufai in the April 11 governorship election. Yero, the political godson of Sambo, is not grounded in the politics of the state but became governor perhaps by default. A former Commissioner of Finance in the administration of Sambo as Kaduna governor, Yero became deputy governor when Sambo was made vice president in 2010 and his

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

What next for states’ helmsmen?

Ngillari

Dakingari

then deputy, late Patrick Yakowa, was elevated as governor. Yero’s opponents have said his performance in office since 2010 have been nothing but abysmal and this may have contributed to his loss in April. As a beneficiary of Sambo’s political empire, Yero may not jump ship in his political sojourn. Age is on his side, so he may rebound in the near future. Nevertheless, he is out of contention for the next four years. Aliyu Wamakko As one of the five governors that caused the fall of the PDP after their defection to the APC, Wamakko has proven that he is a force to reckon with in the politics of the Seat of the Caliphate. Apart from winning a senatorial seat by defeating a sitting senator, he ensured that his anointed candidate, and Speaker of the House of Representatives, Aminu Tambuwal succeeds him as governor. Wamakko is set to play a leading role in the politics of the state and the incoming government for some time. He will be a key player in the Buhari administration and continue to call the shots in Sokoto as far as his political soul mate, Tambuwal, remains as governor. Godswill Akpabio Chief Akpabio is amongst the governors that transformed to legislators after eight years as state chief executives. He polled a total of 422,009 to defeat APC’s Inibehe Okorie in the senatorial election. As governor, he has been in firm control of the party machinery in the state and was able to get his anointed candidate elected as governor in the last elections. He was also part of the forces that ensured

PDP governors that left the party for the APC. He contested the APC presidential primaries and not a few people were surprised that he even came second beating former Vice-President Atiku Abubakar to the third position. It is rumoured that the former Deputy Speaker of the House of Representatives still has his eyes on the presidency and may work towards taking over from Buhari in 2019. Although, some groups are drumming support for him to emerge as Senate Leader, there are rumours that he may be appointed FCT Minister by Buhari. As it is today, Kwankwaso has effectively taken full control of Kano politics and having supported his deputy, Alhaji Abdullahi Ganduje to succeed him, the former Defence Minister will pull the strings in the party both at the state and national levels. He has pushed out of reckoning erstwhile political heavyweights in the state such as former governor and Jonathan’s Education Minister, Ibrahim Shekarau.

Orji

Suntai

that Jonathan got automatic ticket to contest the March 28, presidential election as a sole candidate of the PDP. As the former chairman of the PDP Governors’ Forum, Akpabio was instrumental in whittling down the powers of the Amaechiled NGF. He is said to have a heavy financial war chest and will be a rallying point in the Senate especially for the PDP lawmakers. Already, he is leading a pack of the opposition senators planning to thwart the emergence of an APC endorsed candidate as Senate President. He is a major financier of the PDP and in the days ahead, will be among those that will call the shots in the party. Theodore Orji Former Governor Orji is also a senator-elect and exercised absolute control over the PDP in the state in the eight years that he reigned. Orji’s administration has been dogged by controversy and allegations of impunity and financial malfeasance. He is said to be well heeled and so would continue to dictate things for the party in the state. But whether this may continue for a long time remains to be seen since some commentators believe his political son may also dump him after finding his feet as governor. Rabiu Musa Kwankwaso Kwankwaso, like Akpabio and Orji won Kano Central senatorial seat, beating the incumbent, Senator Basheer Lado. Kwankwaso, a thoroughbred grassroots politician delivered Kano State almost 100 per cent to the APC in the presidential, governorship and state assembly elections. He was one of the five

He has lost it all and it may take him a long while to recover from the electoral tragedy that has befallen him

Gabriel Suswam Suswam suffered the political misfortune, which some of his colleagues such as Yuguda, Dakingari, Aliyu and Elechi experienced. He was defeated by incumbent Senator, Barnabas Gemade, in the race for the Benue North-East seat. Gemade, who defected to the APC a few months before the election, defeated Suswam in a tension soaked election that almost tore the state into pieces. Worst of all, his anointed governorship candidate, Hon. Terhemen Tarzoor, also lost to former Minister of State for Industries, Dr. Samuel Ortom, who was rejected by the PDP and had to cross over to the APC. The loss has already polarised the party as Suswam is said to be at warpath with Tarzoor for challenging the victory of Ortom at the tribunal. Suswam may go into political oblivion because his popularity in the state has waned significantly given that he failed to pay civil servants salaries for about eight months. His performance has been described as appalling even as his opponents accuse him of high level corruption. Although, he is said to have mended fences with Senator George Akume, his former benefactor and has been in the lead campaigning for Akume’s Senate Presidency bid, it will be difficult for him to break into the Buhari government. He cannot be made a minister in the incoming administration and the possibility of him even being nominated for any position in the next four years is bleak. Majority of Benue people are disappointed with his performance in the last eight years and are threatening to petition the EFCC for the governor to be investigated and tried on different allegations. It is very difficult to fathom how Suswam, who was the darling of majority of Benue people particularly the youth in 2007, when he was first sworn in, has ended up this way. In his years as governor, he was popularly called “Mr. Infrastructure” but that has since changed as he is insulted and booed all over the place till he left office on May 29.

Politics 17

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Chief Bode Mustapha is a former member of the House of Representatives and erstwhile National Auditor of the Peoples Democratic Party (PDP). In this interview with KUNLE OLAYENI, he speaks on his expectations from the Muhammadu Buhari-led administration. Excerpts: A new administration headed by Muhammadu Buhari has been sworn in. What are your expectations from him? Unfortunately, he has a very arduous task ahead of him. The country is practically in comatose, the country is at the precipice and from the figures that are being bandied in terms of what the economy is like, I do not envy the President at all. And this is coupled with the issue of fuel scarcity which has been on for about four weeks and has been crippling the economy, bringing it virtually totally to a standstill. Power is not being generated because there is no gas and Shiroro (Dam) is down. The price of petrol today is N300 per litre. Talk of kidnapping all over the place, Boko Haram; so he’s fighting too many battles at different ends. The economy, security, power. If you don’t have a secured environment, your economy cannot thrive and without power, there is no industrialisation. The three components are interwoven. So, I believe that should be his three main focal areas. But another very crucial area of focus has to do with people who have looted this economy and the loots? If an ordinary man on the street steals N10,000 and is sentenced to one year imprisonment and people who steal millions or billions of Naira carry out what is called plea bargaining, to me, that plea bargaining itself is corruption. So, I believe that he has to fight corruption head-on, go after the loots and the looters and create an environment whereby lawyers will not always be asking for stay of executions of this and that, and people who steal this country blind will be walking free while ordinary people who are just petty thieves are languishing in jail. We have just seen now that a former president in Israel is going to eight months imprisonment despite his age. So, what the hell? There should not be any sacred cow. If you dip your hand in the till, you should go down for it. Some Nigerians are of the opinion that focusing on anti-corruption war alone may derail the Buhari government and may not bring much dividends. Do you share their sentiments? To me, what I would advise is that if there is a need to strengthen the law that established the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related Commission (ICPC), so be

Buhari should not spare looters – Mustapha

Mustapha

it. If there is a need to make them really independent and not an appendage of the Attorney General of the Federation (AGF) because if you have a corrupt AGF who connives with looters, the prosecution will never see the light of the day. Like you have an outgone Attorney-General of the Federation who has said you cannot prosecute unless you take permission from his office because it’s not up to N50 million or that kind of crap. If 20 people steal N50 million each, that’s N1 billion. It’s like splitting contracts. So, I believe that if these agencies are strengthened and they are made totally independent and concomitant with that, as we have election tribunals, let us have special tribunals and have a time frame within which all these cases must be disposed off. Would it not amount to duplication of duties if special tribunals are set up to try corruption cases? It’s not duplication of duties. Look at how many governors having EFCC cases on their neck. Look at how many people facing corruption charges levelled against them based on this fuel subsidy scam and they are walking the streets. Unless you take the bull by the horn and make sure that everybody realises that irrespective of who you are, if you commit an offence, you will pay for it; believe me, everybody will think twice. When we had the Oduah-gate thing, you had in Ghana a minister who just said within a particular period, she wanted to make $1 million. She

has not even dipped her hand in the till and she got fired. And here we had in Nigeria somebody, who it was established that those BMW cars had their prices inflated, they were not captured in the budget and she got off with a slap on the wrist. Nothing ever came out of it. So, what signal are you sending to other people? As long as you are close to the powers that be, you can do and undo. That shouldn’t be the way.

There should not be any sacred cow. If you dip your hand in the till, you should go down for it

There have been agitations recently for the reduction in the cost of governance. Do you think Nigeria is spending so much on government? Yes, it’s true Nigeria is spending so much on governance. I’ve always said it that this country needs either a parliamentary system of government or part-time legislature because the economy of this country cannot continue to sustain this cost of governance. As a former lawmaker, do you think the nation’s bicameral legislature would be willing to accept part-time legislature? I haven’t said they would be willing, I am only suggesting because you have to look for ways of cutting costs. What is Nigeria, for example, doing with the Godknows-what number of aircraft in the presidential fleet? It’s ridiculous. How many planes does the British Prime Minister have in his fleet? When he’s travelling, he’s flying British Airways, of course in first class. So, what do you need the fleet for? Because it’s not just buying these aircraft, maintaining

these aircraft, keeping them in the air; these things cost money and we take it for granted. But these costs add up. So much of banqueting in Aso Rock cost money. To me, it’s ridiculous. There must be a way of cutting cost in governance. I don’t see this economy being able to sustain this level of expenditure over the next five to 10 years. The issue of unemployment has reached an alarming proportion in Nigeria. How do you think the Buhari administration can create more jobs for Nigerians? Already there is a blueprint by Muhammadu Buhari, which the Vice President spoke about recently and I believe it is doable. You see, there is population implosion all over the world. The only difference is that in other climes, concerted effort is being made to create employment unlike here in Nigeria. What is your view on the implementation of the confab report? Would you want the new administration to go ahead with it? What is the confab report? How can you implement it? The confab had no constitutional backup. It wasn’t sovereign because there was a legislature in place. Maybe, if there is to be constitution amendment and that report is handed over to the next legislature at the national level and even at state level and they can see what can be taken out of that in amending the constitution; to CONTINUED ON PAGE 20

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Opinion Antics President Buhari should beware of Dominik Umosen

otwithstanding a strong temptation provided by the rofo rofo fight between the court and the National Drug Law Enforcement Agency (NDLEA), over whether the latter has the right to repatriate senator-elect, Mr Buruji Kashamu to the United States of America to face alleged drug charges, protocol demands that we downgrade this travesty of the rule of law for something more dignifying. And nothing can be more important than President Mohammadu Buhari’s rebuff of attempts by the All Progressives Congress (APC), governors to influence the composition of his cabinet. In the not-so-mild warning sent from London to where he retired for ‘consultations’ on the eve of his inauguration last week, the Daura-born general shocked members of his party with the pledge to resist attempts by the governors to hijack what is clearly his prerogative. In the jolting message, which was transmitted through the national leadership of the party, Buhari reportedly questioned the rationale for governors to choose ministers for him when he did not choose commissioners for them. According to him, he was wary of walking down a road that is rigged with booby-traps because accepting to work with nominees picked by governors amounted to working with people whose loyalty tilted towards those who nominated them, instead of to him, their principal. From his body language, which is already creating consternation and panic in the new ruling party, especially among those

who presumed that they had effectively pocketed the arrowhead of change with their intimidating fortunes, President Buhari is apparently determined to side-step some of the pitfalls of his predecessor. For those who might not have known this, out-going President Goodluck Jonathan invariably became a victim of over-bearing governors who also engineered his political humiliation. According to a source at the national secretariat of the party, the president has always been convinced that ‘he requires a free hand to run a government without the distraction of having aides whose loyalty is more to their sponsors than his administration’. With his experience, it would have been criminal not to have been privy to the shenanigans of politicians, especially the Nigerian variety. The source confided that the APC is trying to structure itself like the defunct National Party of Nigeria (NPN) where the appointment of ministers was done in consultation with the national leadership of the party. He also said that Buhari was scandalised that some APC states were defaulting on payment of salaries, despite collecting allocations from the Federation Account. Understandably, Buhari’s attempt to re-assert himself, especially on the composition of his cabinet, sent a tremor down the party leadership. Most disturbed, expectedly, are governors elected on the platform of the party who are yet to recover from the shock of the ground-breaking rebuff. Buhari rejected a list of proposed ministers from the APC governors when they paid him a solidarity visit three weeks ago. The visit, we understand, was to formally seek the

assistance of the new administration at the centre on the possibility of a bailout to cushion the effects of the financial crisis that has hit states. Although the leadership of the APC played down the rejection, concern among the governors and a section of the party leadership heightened thereafter as the President reiterated this position in a newspaper interview. Because of the enormity of the situation that he is confronted with, there is an over-hang of public sympathy in favour of the president in his battle to re-assert his authority vis a vis the tyranny of party supremacy. Nigerians are conscious of the fact that rebuilding the country requires unwavering decisiveness, not the vacillations of another cringing wimp who will prefer to oscillate like the pendulum, basically because he lacks a mind of his own to know the difference . It is important that President Buhari should enjoy the assurance of knowing that Nigerians are solidly behind him in his bid to assert himself. Of course, there is something called party loyalty and supremacy. That is why the APC, for instance, hosted a retreat for national assembly members elected on its platform where the national chairman, Chief John Oyegun, harped on the need for members to respect these concepts. But because of the enormity of the task before him, President Buhari deserves to be wary of the antics of politicians which surpasseth ordinary understanding. The politicians around him, you will agree, include Vice-President Yemi Osibanjo, who said that the country’s debt profile is over S60billion. Because he is a politician, he conveniently forgot to add that much of the debt was accounted for by APC-controlled states.

Buhari: Prospects of ‘change’ and first lady syndrome Okwudili Uzoka

uring Buhari’s electioneering campaign activities last December, he said, point blank, in an interview with Weekly Trust, that he will scrap the office of the First Lady if elected President, on the grounds that there is no constitutional provisions to justify the existence of the office and insisted that constitutionally guaranteed ministries like the Women affairs Ministry will be strengthened to play key roles in government. Most people situated Buhari’s stand within the context of his avowed commitment to fight corruption and reduce multiple avenues or conduit pipes for draining the resources of the nation. Although, he took some swipes from certain quarters as he was accused of having innate hatred for women and not gender-friendly in the least, he said during the interview, with visible signs of sincerity of intention that, ‘’I was raised by my grandmother as I lost my father when I was under six years, so I know what a woman can do if given the chance’’. One recollects with nostalgia, the seemingly drab nature of the office of the First Lady in the days of Flora Azikiwe. The First Lady syndrome which came into being in the late 1960’s through the activities of Victoria, the wife of the then head of state, General Yakubu Gowon, was wrapped up and somewhat legitimatized and validated from the inception of the Murtala/Obasanjo era in 1975 up till the Ibrahim Babangida ‘Maradona’

years of the mid 1980’s to date. Since then, spouses of the Commander-inChief began to commandeer logistics, men and materials, while traversing the length and breadth of Nigeria, conceiving and commissioning paralegal projects and programmes for which statutory bodies were well in place, with concomitant budgetary provisions. Soon enough, wives of lesser mortals carved their own fiefdoms at the state and subsequently local government levels, with vast offices and retinue of aides all provided for from government coffers outside of the lawful budget process. There are two critical issues to address here. First, the constraints or difficulties inherent in curtailing the activities of the First Lady, considering the fact that there is no constitutional provision for the office. Nonetheless, the office has natural validity and legitimacy by virtue of marriage. The problem, however, lies with the kind of leverage and impetus given to the activities of the past First Ladies by our past Presidents whose whimsical approach to the issue has seen most First Ladies acting outside the dictates of common sense and rationality. Just as the wife of the President rightly pointed out, ‘’Wives of Presidents have some traditional roles, like receiving guests, visiting orphanages, helping the less privileged people. They also lead in the fight for the rights of women and malnourished children, infant mortality rate, kidnapping and girl’ child trafficking’’. Now, how will the President put mechanisms in place to curtail what may be seen as undue excesses of his wife while trying to

perform the above listed roles as the First Lady of the country? The issue is not a question of scrapping the office of the First Lady, which in itself is an obvious impossibility, unless in the event of absolute denial of the bonds of marriage between the president –elect and the wife. In that unlikely event, the president-elect would have to declare that he does no longer have a wife, and therefore, no First Lady in the first instance. It is more a matter of disposition of the President towards the activities of the next First Lady and his ability to evaluate critically the positive or negative impact of such activities on the overall wellbeing of the nation. It has to do also with the countenance and disposition of the First Lady herself. In the past, the attention of the public was drawn to the activities of the First Ladies due to the perceived profligacy and wastefulness inherent in most of their activities. The point, however, must be made that scrapping the office of the First Lady may not be entirely necessary. Once the activities of the First Lady genuinely address development imperatives that further the cause of women without constituting unnecessary drain on the resources of the nation, efforts should be made to encourage and support her with funds that commensurately justify her activities. The imminent point of departure is that Buhari is generally seen as a very resolute man, not given to frivolities and low on theatricals. He will likely deny the First Lady the characteristic glamorous outings of her predecessors. The implications will be far reaching on

the multitude of ‘’women for change’’ who are always waiting in the wings, at the dawn of a new administration, to swoop on the First Lady. However, there is no discountenancing the crucial and positive role women play in the evolution of democracy and in the development process of any nation. In this context and also within the thinking of the President-elect to scrap the office of the First Lady and promote the activities of the Women Affairs Ministry, it is imperative that, beyond strengthening existing government institutions that promote and advance the welfare of women, the incoming administration should appoint a reasonable number of women into key positions in government. The current administration did well in this regard, and from all practical purposes, notwithstanding uncharitable criticisms from men with ulterior motives, the women have been able to acquit themselves creditably in the discharge of their duties. It is in the interest of the President-elect as well as the nation that his government exploits the gains of the Jonathan administration in the areas of advancing the rights of women for sustainable development to further place women in strategic positions of governance. Nigerians are interested in seeing how Buhari willconfront and successfully checkmate the likely undue promptings from his wife not to have a radical departure from the First Ladies’ ostentatious traditions of the past. •Uzoka (okwudiliuzoka@gmail.com), former House of Representatives Committee Chairman on Solid Minerals writes from Ogbaru, Anambra State.

NEW TELEGRAPH MONDAY, JUNE 1, 2015

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Double attack on global stage

he Nigeria Football Federation will have its hand full in the next one month as two national teams compete for honours at the world stage. The FIFA U-20 World Cup began last Saturday (May 30) in New Zealand with 24 countries on parade. A week later (June 6) in Canada, 24 national teams will also begin hostilities in the FIFA Women’s World Cup. Nigeria has representation in the two competitions and it was not a surprise last week when the President of the Nigeria Football Federation, Amaju Pinnick, cried out last week that the federation was broke. We believe this is not supposed to be so if the marketing arm of the NFF is doing the right thing. For example, each of the 11 national teams should have a sponsor instead of having one title sponsor for all the teams. That is a story for another day. While the federation is busy with the logistics of taking part in the two global competitions expected to run simultaneously for three weeks, it is expected that football fans will also have an exciting time with the two events. The U-20 team that has Manu Garba and Nduka Ugbade as head coach and assistant respectively, will parade top players like Kelechi Iheanacho, Taiwo Awoniyi, Isaac Success, and Kingsley Sokari. The team was in Germany for three weeks and the boys did well in the three friendly matches played. The Flying Eagles won 5-2, 5-0 and 4-1 against three U-23 German teams. The current form of the team is very impressive. They emerged African champions in

Senegal as Nigeria won the Africa U-20 championship without losing any match. Nigerians have high hopes on this team but there is need for caution. Brazil is one of the teams Nigeria will compete with in the group stage. In fact, the first match of the Flying Eagles is against the junior samba boys. We want Nigerians to remember that another promising U-20 team of the country got to the World Cup at Chile 87 and was unable to live up to expectations. The team with Adeolu Adekola, Nosa Osadolor, Etim Esin and Nduka Ugbade fell like a pack of cards. Ugbade as an assistant coach of the current team should be able to educate the players on the need to be focused and committed to get

Only during the week, Liverpool Ladies striker, Asisat Oshoala, was voted the BBC Women’s World Footballer of the Year

the results. It is crucial for the players and officials not to be over confident especially against the two other teams in the group-North Korea and Hungary. The country’s best performance in the competition has been the silver medals won in 1989 in Saudi Arabia and 2005 in Holland. The Flying Eagles are yet to win the trophy. The only time Africa won was in 2009 when Ghana beat Brazil through penalty kicks. And on the way to the second position in 2005, the Flying Eagles played a goalless draw with the Brazilians. Nigerians too should not expect too much from this team. This is an age grade event in which winning is not the ultimate aim but the development process and the transition of the youthful lads. The current team won the FIFA World U-17 trophy in the UAE two years ago and this perhaps informed the expectations of many that the Nigerians will be good enough for gold in New Zealand. We expect the Flying Eagles to make Nigerians happy with a place in the semifinals. Winning is not the only gain in sport and Nigerians should learn to accept this. In Canada, the task before the Super Falcons is much more challenging. Nigeria will compete against the USA, Sweden and Australia in Group D. We condemn the poor preparation of the team for the tournament. The female team did not enjoy the kind of robust preparation the Flying Eagles had. The team only travelled straight to Canada last week. They did not start camping as

early as expected and we wonder why the federation did this to the team that has been consistent in Africa but yet to click at the global stage. The Falcons needed the exposure to enable them to compete well with top teams. Only during the week, Liverpool Ladies striker, Asisat Oshoala, was voted the BBC Women’s World Footballer of the Year. It is a great individual award but this could help the confidence of the team especially because she beat Germany’s Nadine Kessler and Brazil’s Marta to the award. The Falcons no doubt have their hands full in this competition but we expect them to approach all the games with determination and hopefully the Nigerian spirit could also earn them a good result. Their best so far in the competition remains a quarter-finals showing in 1999.Going beyond that this year, will be a welcome development. The U-20 team, the Falconets, so far have the best record having gone beyond the semifinals of the U-20 Women's World Cup twice. Unfortunately, they lost in the grand finale twice, to the same team, Germany. For the two competitions, we hope the NFF has fulfilled all obligations to ensure there is no crisis in the U-20 camp in New Zealand and the Super Falcons camp in Canada. We make bold to say that the off the pitch conduct of the country’s representatives is as important as the results posted on the pitch. Good luck to Flying Eagles and the Super Falcons.

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Politics

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Why Buhari must remove fuel subsidy, by Mustapha CONTINUED FROM PAGE 17

me the whole of the confab was a charade and waste of money. It was just a total waste of Nigeria’s money – money that was not available. To achieve what? What has it achieved at the end of the day? It would gather dust somewhere. And I don’t think that at this point in time, the priority of the President is about confab report. There are more serious issues facing Nigeria as at today. I’ve talked about it – security, power, creation of employment. Those are more serious issues than confab report. In which

way has the confab report addressed the challenge of unemployment? What section of that report has tackled power? How much did they talk about in terms of security in that report? And what did that report have to say about the economy, the debt profile, revamping the economy, diversifying the economy? There should be some useful parts in that report that could be useful to government. But, to me, the amount of money that was wasted on that exercise was not worth it. You have a confab of which 60 or 65 per cent of all the delegates were selected by government; that means

they have gone in there for a government agenda. In spite of the successes of the 2015 general elections, some observers still feel that there is need for electoral reforms. Do you think this should be pursued by the Buhari administration? I think the first thing first is to always have an independent umpire with

the personality, mindset and honesty of purpose of Professor Attahiru Jega. I don’t know him as a person but I salute his courage. And the best thing he has ever done to this country, and which even America applauded, is the issue of card readers. Many states are going to tribunal because there were more votes than accredited voters. That has come because of the use of card readers. People said the card readers were failures; it’s not true. The first thing the card reader does is to ensure that the card you have brought is genuine card, belongs to you and is not cloned.

The issue of fingerprint is secondary. When you come with a genuine card, once you put the card in, it shows the card is genuine, from the picture, they know it’s you. That is why they had the incident forms. Of course, we can still improve but we have really gone very far with Jega and I doff my hat for him. Some people have suggested that the privatisation of refineries as well as deregulation of the downstream sector would go a long way in reducing the hardship usually faced by Nigerians over fuel supply. Do you support this idea?

It’s a two-edge sword. When the President was Minister of Petroleum, we had 20 states and he built 20 depots and there was no problem with fuel. But there are saboteurs within the system. It’s like power. The people who import diesel will never want us to have regular power supply, otherwise they are out of business. The people who import generating sets will never want us to have regular power supply, the people who import inverters will never want us to have power. So, when you are dealing with this kind of cartel, it takes a person with strong will to take them head-on. And when you talk of fuel subsidy, to me, I believe that the President should take the bold step of removing it, and my reason is very simple. Today, we are talking of buying fuel for N400 (per litre) and people are queuing to buy it; at N300, people are queuing to buy it. If petroleum product was selling for about $120 or $130 per barrel, now it’s $60 per barrel and you are telling me there is subsidy, then somebody is fooling somebody. We are not idiots in this country. People are just collecting money in this country for the socalled subsidy. We have seen so many cases that are being prosecuted that people were just doctoring documents and they are walking free because they are paying lawyers millions of Naira. Professor Tam David-West used to be Minister of Petroleum and he did the calculations; there is nothing like subsidy. It’s a scam. So, the first thing first is to take out the so-called subsidy. Let the government deal directly if they are to buy products. They can sell even some of our products abroad and resold to us if we don’t have the capacity here. It would always end up cheaper. And let our refineries function and allow more refineries. Open it all. Dangote refinery is going to start in Lagos. But unless you quickly check and ensure that the pricing is right, he too can come on the market and undercut Nigerians and sell at high prices and he would say he used to buy it for so much. Nigeria is the only country that I know – and we are the sixth largest producer of oil in the world – where the price of petroleum product is this high. It’s abnormal and scandalous. So, I believe that once the President takes care of that and blocks as many loopholes as possible, the price will come down.

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Oil price rally to boost capital inflows, say experts

Wapic Insurance: Fluxes in profit

Stock Watch

Insurance

PenOp: Making pension contribution easier for employers

‘Why Nigeria’s gas, power supply continues to crash’

42-43

Money Line

Interview

Business What's news

CET implementation: FG may lose Customs revenue by 2020 The Federal Government may no longer have access to the Nigeria Customs Service (NCS)’s revenues from 2020 due to the Common External Tariff (CET) implementation, New Telegraph has learnt.

p.22

ICAO begins valuation of Nigeria’s aviation security today The International Civil Aviation Organisation (ICAO) will today begin security audit on Nigeria’s aviation.

L-R: Head, One Education, Sterling Bank Plc, Miss. Adesola Alli; Senior Principal, Caleb Group of Schools, Mr. Hywen Bennett; Head, Brand Management, Sterling Bank Plc, Mrs. Olapeju Ibekwe, and Executive Director, Caleb Group of Schools, Dr. Dolapo Ogunbawo, at the Parenting Series Workshop organised by the school and supported by the Sterling Bank.

REVENUE Power distribution firms move to evade N750m fixed charges’ loss Adeola Yusuf

p.22

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

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Abdulwahab Isa

he Nigerian economy lost a whopping $11 billion (N2.2 trillion) to the economic imbroglio caused by breakdown in power supply and scarcity of Premium Motor Spirit (PMS) also known as petrol, which dragged on for five working days last week. Frontline Economist, Bismarck Rewane, disclosed this to New Telegraph at the weekend. He said that the consequential economic loss of the energy crisis to Nigeria was 1.37 percent ($7 billion) of her GDP. The Managing Director of Financial Derivatives (FDC) also put both the direct and consequential cost to the economy at $11 billion. The GDP measures the

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Nigeria loses N2.2trn to power crisis Rewane puts direct cost at 1.37% of GDP

change in the value of the goods and services produced by a country’s economy during the period of a year. Estimated at N84.91 trillion in 2014, the GDP of Nigeria, according to the expectations, will grow to N95.09 trillion in 2015 and N156.29 trillion in 2019. FSDH Securities Limited, experts in an analysis of the economic and financial outlook for 2015 and 2019, showed that the nominal GDP is expected to reach N109.34 trillion by 2016, N126.86 trillion by 2017 and N142.08 by 2018, with a growth rate of 15 per cent, 16 per cent and 12 per cent respectively. But following the weak re-

covery in the global economy, the need for improvement in infrastructure, the contractionary monetary and fiscal policy stance of the Central Bank of Nigeria (CBN) and the Federal Government’s security challenges in some parts of the north, the real GDP growth rate for 2015 will be 5.68 per cent, representing a decline from the estimate of 5.99 per cent for 2014. Meanwhile, while the power

N156.29trn Projected value of Nigeria’s Gross Domestic Product (GDP) in 2019

supply crash was caused by the collapse of the national grid, the fuel scarcity was a result of the strike by Petroleum Tankers’ Drivers (PTD), which grounded the lifting of fuel at depots in Apapa. A lot of Nigerian business concerns - small scale, middle scale and large scale - in manufacturing and servicing, recorded the humongous loss, as a lot of economic activities that depended on electricity supply were grounded, especially when there was no diesel to power the alternative source of energy to their firms. CONTINUED ON PAGE 22

Rates Dashboard INFLATION RATE April 2015................................8.7% March 2015.............................8.5% February 2015.........................8.4%

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

EXCHANGE RATE (BDC as at May 29)

USD . . . . . . . . . . . . . . . . . . . . . . . N221 Pounds . . . . . . . . . . . . . . . . . . . N340 Euro . . . . . . . . . . . . . . . . . . . . . . N245

l Foreign Reserves – $29.616bn as at 27/05/2015

Source: CBN

EXCHANGE RATE (Interbank as at May 29)

USD . . . . . . . . . . . . . . . . . . . . . . N199 Pounds . . . . . . . . . . . . . . . . . . N303 Euro . . . . . . . . . . . . . . . . . . . . . N220

Business | News

INEPT Inefficient firms to die under the new West African instrument Bayo Akomolafe

he Federal Government may no longer have access to the Nigeria Customs Service (NCS)’s revenues from 2020 due to the Common External Tariff (CET) implementation, New Telegraph has learnt. CET is one of the instruments of harmonising Economic Community of West African States (ECOWAS) member states and strengthening its Common Market (CM). Under the policy, the countries will share same customs duties, import quotas, preferences or other non-tariff barriers to trade. This would also apply to all goods entering the area, regardless of which country within the area they are entering. Former President, Dr Goodluck Jonathan, last month, approved the implementation of the CET in Nigeria 2015-2019 and 2015 Fiscal Policy Measures. It was learnt that other countries, apart from Mauritania that opted out of ECOWAS in the last 15 years, would monitor all the revenues generated from the ports and borders and operate a common treasury. But a source who preferred his name not to be mentioned in print, also disclosed that the countries had not agreed over the sharing formula because Nigeria generates 70 per cent of the revenue in the region.

Nigeria loses N2.2trn CONTINUED FROM PAGE 21

Meanwhile, the distribution firms in Nigeria are in race to evade loss of about N750 million fixed charges on about 1.1 million of their customers. The power distribution firms were barred by the Nigerian Electricity Regulating Commission (NERC) from collecting N750 fixed charge on customers who suffers two weeks (15 days) of consecutive power supply failure. “The grid collapse, which disrupted power supply for more than one week, almost took many of these firms to a tight corner over the fixed charges and the measure they have taken is to boost supply to most of the customers affected by the grid supply fall,” an industry source told New Telegraph.

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

CET implementation: FG may lose Customs revenue by 2020 The policy contained tariffs of four bands of customs duty, namely: Essential social goods - zero per cent, goods of primary necessity, raw materials and specific inputs - five per cent; intermediate goods - 10 per cent and final consumption goods - 20 per cent. The policy also stipulated that no country could charge above 35 per cent tariff in the region. The source lamented: “Very soon, Nigeria will not have money to pay its

workers. Naira will disappear because there will be one currency. “By 2020, there will be nothing like import prohibition in West Africa. If we remove import prohibition, some inefficient industries will close down completely. No government can tamper with the new tariff.” Already, France has resolved to stop its subsidies on CFA currency from December 31 this year. Meanwhile, NCS has

engaged the service of a German development firm, Gesellschaft für Internationale Zusammenarbeit (GIZ) (German Corporation for International Cooperation) to assist it in implementing CET. GIZ is owned by the German Federal Government and operates in over 130 countries. Its headquarters are located in Bonn and Eschborn Germany. The implementation of the ECOWAS CET

(2015-2019) together with its Supplementary Protection Measures (SPM) and 2015 Fiscal Policy Measures concurrently took effect from April 11, 2015, after the expiration of the 30 days notice required under the provisions of the ECOWAS CET. The GIZ’s Advisor on Trade Facilitation and Private Sector Development, Frieder Mecklenburg, said that his firm was in Nigeria to train officers and men of the NCS

the CET implementation. He said: “On behalf of the German Development Agency, we are here to support and train officers of the NCS so that they can make effective use of the Economic ECOWAS CET trade tariff. “Germany, as a country, is benefiting largely from overseas trade, import and export. Nigeria, on the other hand, is the most powerful market in the West African subregion. Just as Germany has done in the European Union, we are here to help Nigeria implement the CET in the West African sub-region.

L-R: Managing Director/CEO, May & Baker Plc, Mr. Nnamdi Okafor; Chairman, Lt. Gen. Theophilus Danjuma (rtd) and representative of Marina Nominees Limited, Company Secretaries, Mrs. Toun Abiru, at the company’s 64th Annual General Meeting in Lagos. PHOTO: SULEIMAN HUSAINI

AUDIT It examines the safety procedures of a country’s aviation system and assist to correct any deficiency Wole Shadare

he International Civil Aviation Organisation (ICAO) will today begin security audit on Nigeria’s aviation. The apex aviation regulatory body would scrutinise Nigeria’s aviation security system to ascertain if the country has complied with all the gaps noticed some years ago. ICAO’s team arrived at the weekend to begin the assessment, which the Nigerian government said they are ready for. The Nigerian Civil Aviation Authority (NCAA) said that the audit would be carried out to examine the safety procedures of the country’s aviation system and assist to correct any deficiency in the

ICAO begins valuation of Nigeria’s aviation security today  68% identified gaps closed system. Aside that, another audit, the Universal Safety Oversight Audit Programme (USOAP), would also be conducted in November this year. USOAP’s objective is to promote global aviation safety. ICAO does this by auditing the contracting states on a regular basis to determine the states’ capability for safety oversight. The ICAO USOAP was established in accordance with strategic objective A3 to conduct aviation safety oversight audits to identify deficiencies and encourage the implementation of its resolutions by contracting states, it was learnt. The ICAO Assembly Resolution A32-11 of 1999 directed the establishment of USOAP, comprising regular, mandato-

ry, systematic and harmonised safety audits. ICAO Safety Audit Oversight Section manages the programme. Others are associated procedures, guidance materials and safety related practices. Contracting states were asked to encourage its application with greater transparency and increased accessibility of audit results. Nigeria’s preparedness was unfolded by the immediate past Minister of Aviation, Osita Chidoka, while giving his scored card last week. Nigeria, he said, has identified the security gaps from the United States Transportation Security Administration (TSA) and ICAO and constituted assessment review into gaps analysis checklist, which

has been sent to NCAA and the Federal Airports Authority of Nigeria (FAAN) in April 2015. The former minister disclosed that the Ministerial Tracking Team paid its first gap closure assessment visit to NCAA and FAAN between April 26 and 27, 2015. After the assessment, he said, 68 per cent of the identified gaps were closed and partially closed. The minster said: “However, in the gap closure on Wednesday May 13, 2015, remarkable improvement was indicated, which might drive the gaps closure assessment percentage to the 90s.” Aviation security expert, Group Captain John Ojikutu (rtd), said that the level of preparedness of Nigeria for the audit would be determined by the response received from the external safety auditors on CONTINUED ON PAGE 36

INTERNATIONAL WEEKLY

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Sanctity of Truth

Of Torture And Truth In Tunisia By CARLOTTA GALL

TUNIS — One notorious form of torture was the “roast chicken,” in which the victim was suspended naked from a metal bar and beaten, like a trussed bird on a spit. During months of interrogation that began when he was just 17, Mohamed Hamemi, now 45 and an athletics trainer, was repeatedly tortured in that way as the government cracked down on an Islamist movement in the 1980s. “You spend the whole day naked, with feet cuffed, in the chicken position,” he recalled. “When all your body goes blue, they drop you down, throw water on you, and then yank you up again.” Mr. Hamemi is one of the thousands of Tunisians who have arrived at the country’s newly formed Truth and Dignity Commission, an ambitious effort to examine past abuses and answer demands for justice. Tunisia’s public vetting of past sins has been attempted by other nations at turning points between dictatorship and democracy, like South Africa and El Salvador. But Tunisia’s effort is not universally embraced at home. The commission has struggled with the bureaucracy over money and with the police over access to archives Every day, people like Mr. Hamemi come, middle-aged men and women with lined faces, sitting silently, waiting to submit their papers. Some describe being beaten unconscious, hung upside down, plunged underwater or into buckets of human waste, electrocuted, raped and sodomized, often while spouses and others were made to watch. Before the revolutions that swept the region more than four years ago, that kind of torture was not uncommon in the Arab world. For decades, the region’s dictators made sure to crush any perceived threat to their rule. What is exceptional about Tunisia, now a democracy, is that it is daring to examine its past abuses publicly. There is even talk of televising the hearings that are scheduled to begin in June. When Tunisia’s democratically elected president, Beji Caid Essebsi, visited the United States in late May, President Barack Obama told him he plans to reward the country’s progress by giving it the status of major non-NATO ally, which brings a higher level of cooperation granted to friendly countries like Japan and Israel.

Continued on Page 26

MERIDITH KOHUT FOR THE NEW YORK TIMES

Church officials had stalled the canonization of Archbishop Óscar Romero of San Salvador, who was killed saying Mass.

Liberation Theology’s Revival Views of a Scorned Movement Shift as Pope Francis Focuses on the Poor By JIM YARDLEY and SIMON ROMERO

VATICAN CITY — Six months after becoming the first Latin American pontiff, Pope Francis invited an octogenarian priest from Peru for a private chat at his Vatican residence. The September 2013 meeting with Gustavo Gutiérrez soon became public — and was quickly interpreted as a defining shift in the Roman Catholic Church. Father Gutiérrez is a founder of liberation theology, the Latin American movement embracing the poor and calling for social change, which conservatives once scorned as Marxist and the Vatican treated with hostility. Now, Father Gutiérrez is a respected Vatican visitor, and his writings have been praised in the Vatican newspaper. Francis has brought other Latin American priests back into favor and often uses language about the poor that has echoes of liberation theology. And then on May 23, throngs packed San Salvador for the beatification of the murdered Salvadoran archbishop Óscar Romero, leaving him one step from sainthood. Francis has placed the poor at the center of his papacy. In doing so, he is directly engaging with a theological movement that once sharply divided Catholics and was distrusted by his predecessors, Pope John Paul II and Pope Benedict XVI. Even

NELSON DUENAS/AGENCE FRANCE-PRESSE — GETTY IMAGES

Thousands of Salvadorans attended Archbishop Romero’s beatification on May 23, which left him one step from sainthood 35 years after his death. Francis, as a young Jesuit leader in Argentina, had qualms. Now, Francis speaks of creating “a poor church for the poor” and seeks to position Catholicism closer to the masses — a spiritual mission that comes as he is also trying to revive the church in Latin America.

INTELLIGENCE

WORLD TRENDS

MONEY & BUSINESS

BASE jumps pass the danger zone. PAGE 24

Nepalese survive, in a state of shock. PAGE 25

Post offices adapt to a digital world. PAGE 30

For years, Vatican critics of liberation theology and conservative Latin American bishops helped stall the canonization process for Archbishop Romero, even though many Catholics in the region

Continued on Page 27

STYLES

Forgetting the clubs at the golf course. PAGE 33

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, JUNE 1, 2015

O P I N I O N & C O M M E N TA RY NICHOLAS KRISTOF

Dean Potter, an extreme athlete, spent 22 years defying the limits of what a human being can do on Yosemite National Park’s granite monoliths. Mr. Potter, who died on May 16, with his dog, Whisper.

The Power of Hope Is Real

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To Fly and Die Not long ago, I stood with some friends at Taft Point, a promontory 900 meters above the floor of Yosemite Valley in California. It was a perfect morning, with nothing but fresh-scrubbed mountain air between us and the wind-polished face of the world’s largest granite monolith, El Capitan, in the distance. We edged close enough to the void to start trembling. I felt a primal fear of death, and that fear kept me from taking another step. The joy was in the perch, to be on a ledge fit for species that can fly under their own power. On May 16, Dean Potter and a young acolyte, Graham Hunt, went to that same spot at sunset with a plan to jump. This wasn’t suicide, not by a conventional understanding of the act. Potter had done the jump many times before. It was sport — wingsuit BASE jumping. No one in the world was better at trying to imitate a flying squirrel, at speeds in excess of 160 kilometers per hour, than Dean Potter. He spent 22 years defying the limits — and the law — of what is an acceptable way for a human being to interact with Yosemite’s towering granite. On that Saturday evening, Potter and Hunt took a leap. They were in the air barely 40 seconds, trying to clear a notch, when they smashed into the rock wall and were killed on impact. Potter was 43. Hunt was 29. Potter’s nickname was the “Dark Wizard.” What he did — walking on slacklines over Yosemite’s waterfalls, climbing sheer vertical faces without rope, and jumping from cliffs, to Send comments to intelligence@nytimes.com.

be saved at the last minute by a parachute — would be called insane, or labeled circus acts in another era. Potter called them “the dangerous arts.” He had a cult following, was named an “adventurer of the year” by National Geographic after a 2009 jump from the Eiger in Switzerland, and he constructed a whole philosophy around acrobatic forms of flirting with death. He even flew with his dog, Whisper, attached to his back. “This concept of turning dying into flying is a metaphor for my basic life principle,” he said. And when questioned about BASE — an acronym for Building, Antenna, Span and Earth — he all but challenged the gods to burn his wings. “Man actually has the skills to pull it off.” But man also has a brain. There is difference between using human ingenuity to have “slipped the surly bonds of Earth,” as the poet and aviator John Magee wrote, and stupidity. The Wright brothers were meticulous, engineer-driven tinkerers who finally slipped the bonds with their flying machine for 12 seconds in 1903. They were not in it for the thrill, those men from the Midwestern United States, though the ancient desire of people to fly was a driving force. “For some years I have been afflicted with the belief that flight is possible to man,” Wilbur Wright wrote, three years before the brothers flew. “My disease has increased in severity and I feel it will soon cost me an increased amount of money, if not my life.” Later in the century, when Neil Armstrong became the first person to walk on the moon, he carried with him a piece of the original Wright Flyer. What connects the Brothers W. to the American

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moonwalkers is imaginative planning, born of careful calculations, to reduce risk. What Dean Potter did with his life, and what brought him to his death, was something altogether different. Extreme sports, so called, have to get more extreme to stay interesting. As he approached middle age, and became famous, Potter went ever deeper into the dangerous arts. He started as a climbing bum, living the van-by-the-river lifestyle and dodging rangers in Yosemite. His skills were extraordinary. He broke speed records for climbing solo and freestyle, a Spiderman without the webbing. But then he started to balance-walk on lines strung across deep chasms. He took up wingsuit flying, where a single miscalculation means death. His Eiger jump set a record for the longest flight in a wingsuit, nearly three minutes. There was certainly a bit of stoner stunt ethos to what he did, the dare that follows a question, “Dude, wouldn’t it be awesome if we could fly from Half Dome?” But to Potter it was also spiritual. On his website, he talked about “playing in the void,” and overcoming the fear that keeps most of us grounded. But inherently, he knew this game of risk could not last. “Wingsuit BASE-jumping feels safe to me, but 25 wingsuit fliers have lost their lives, this year alone,” he wrote on his blog last year, after the death of a friend. “There must be some flaw in our system, a lethal secret beyond my comprehension.” No, the flaw was not in the system, but in the cultural celebration of sport-assisted suicide. I love Potter’s spirit, but not his actions. The kind of cliff-diving that Potter did is considered the riskiest sport in the world. But to call it a sport is charitable. It’s death-courting. Odds are with death. Dean Potter thought he was flying. He was just falling. And on May 16, he fell to his death, his final act a cautionary tale as old as the one that the ancient Greeks told about Icarus.

An awkward truth for bleeding hearts like myself is that there has never been much rigorous evidence that outside aid can sustainably lift people out of poverty. Sure, evidence is overwhelming that aid can overcome disease, boost literacy and save lives. But raising incomes is trickier — and the evidence in that arena has been squishier. Now that’s changing. A vast randomized trial — the gold standard of evidence — involving 21,000 people in six countries suggests that a particular aid package called the graduation program (because it aims to graduate people from poverty) gives very poor families a significant boost that continues after the program ends. Indeed, it’s an investment. In India, the economic return was a remarkable 433 percent. The heart of this aid package? A cow. Or a few goats. Even bees. Why would a cow have such an impact? This gets interesting: There’s some indication that one mechanism is hope. Whether in America or India, families that are stressed and impoverished — trapped in cycles of poverty — can feel

Finally, evidence of an aid package curtailing poverty. a hopelessness that becomes self-fulfilling. Give people reason to hope that they can achieve a better life, and that, too, can be self-fulfilling. In the graduation program, recipients of livestock were inspired to work more hours, even in areas unrelated to the livestock. They took more odd jobs. Their savings rose. Their mental health improved. “Poverty is not just poverty of money or income,” noted Sir Fazle Abed, founder of a Bangladeshi group called BRAC that developed the graduation program. “We also see a poverty of self-esteem, hope, opportunity and freedom. People trapped in a cycle of destitution often don’t realize their lives can be changed for the better through their own activities. Once they understand that, it’s like a light gets turned on.” Esther Duflo, an economist at the Massachusetts Institute of Technology and a co-author of the study, believes that’s right. “The mental health part is absolutely critical,” she said. “Poverty causes stress and depression and lack of hope, and stress and depression and lack of hope, in turn, cause poverty.”

Could hopelessness and stress create a “poverty trap” in which people surrender to a kind of whirlpool of despair? Some economists and psychologists are finding evidence to support that theory, and experiments are underway to see if raising spirits can lift economic outcomes. One study found that Ethiopians randomly assigned to watch an inspirational video ended up saving more and spending more on their children’s education, compared with participants randomly assigned to watch an hour of comedy television. The forward-leaning behaviors persisted in a six-month follow-up. Researchers are now studying whether exposure to religion might have a similar effect. If so, Marx had the wrong drug in mind: Religion would not be an opiate of the masses but an amphetamine. The graduation program is a bit similar to the model of the group Heifer International, which provides “gifts of hope” such as heifers, goats and chickens to impoverished families. But the graduation model includes other elements. The program starts with a cow or other animals, as well as training on how to raise them. It includes months of food or cash support, partly to reduce the need to eat or sell the animal in a financial crisis. There’s a savings account (microlending has disappointed in trials, but microsaving works very well), health education and regular coaching to reinforce skills and build confidence. The study, which was just published in the journal Science, found that the graduation model was hugely successful in India, Ethiopia, Ghana and Pakistan, and somewhat less effective in Peru and in Honduras. A follow-up found the effects still strong three years after the donation of the animals. Dean Karlan, a Yale economist who is co-author of the study, said that aid groups focused on similar approaches include Trickle Up, the Boma Project, Village Enterprise and Fonkoze. Professor Karlan’s students in a seminar on philanthropy were given a pool of money and the challenge to donate it where it would do the most good; they spent the term reviewing the evidence and, in the end, chose Trickle Up. So bleeding hearts, rejoice! Much of the news about global poverty is depressing, but this is fabulous: a large-scale experiment showing, with rigorous evidence, what works to lift people out of the most extreme poverty. And it’s exhilarating that one of the lessons may be so simple and human: the power of hope.

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Despair, and Grim Acceptance, of Killings in Brazil By SIMON ROMERO and TAYLOR BARNES

RIO DE JANEIRO — Eduardo de Jesus was on his doorstep in Complexo do Alemão, a maze of cinder block homes, when his mother heard gunfire. Seconds later, she saw Eduardo, 10, lying dead from a gunshot wound to the head, and she ran toward the police officer holding the gun. “I grabbed him by the vest and yelled, ‘You killed my boy, you wretch,’ ” said Terezinha Maria de Jesus, 40. “He told me, ‘Just as I killed your son, I can kill you, too,’ as he pointed his rifle at my head,” she said. “I told him: ‘Go ahead. You just killed part of me. Take the rest.’ ” The images of Eduardo’s body and the piercing screams of his neighbors denouncing the police, captured on cellphones, offer a glimpse into the despair of a society where killings by the police are common. At least 2,212 people were killed by the police in Brazil in 2013, according to the Brazilian Public Security Forum, and experts say the actual number is probably substantially higher because some states do not report killings by their police forces. In the United States, which has well over 100 million more people Lis Horta Moriconi and Nadia Sussman contributed reporting.

RICARDO MORAES/REUTERS

Tensions have flared in Brazil after police shootings. Police took up positions in Rio. than Brazil, the F.B.I. counted far fewer killings by the police: 461 in 2013. But while deaths at the hands of the police have set off protests in the United States, they are often accepted grimly in Brazil as normal. “The children, adolescents and adults killed by the police in Brazil are victims of a massacre

in which the casualty figures are higher than in some war zones,” said Antônio Carlos Costa, a pastor who helps track cases of children under 14 who were killed by police. With killings by the police surging in Rio as the authorities clamp down in preparation for the Olympic Games next year, anger has flared. After Eduar-

Uncertainty As a Way Of Life I am constantly on edge. I live in Kathmandu, Nepal’s capital. My life did not change immediately on April 25 when a magnitude 7.8 earthquake tore through Nepal, killing more than 8,500 people, injuring thousands ESSAY and leaving 2.5 million people homeless. Yes, I remember my shaking hands after the 40 seconds of rolling earth, crumbling walls and screams. Then came the more than 240 aftershocks, including a magnitude 7.3 temblor that I weathered on the fourth floor of a swaying building. “This is not my Kathmandu anymore,” my friend Deepesh Das Shrestha told me recently of the city where he grew up. “I don’t recognize it. People will only talk about one thing: It’s the earthquake.” In the past weeks in Kathmandu, panic has spread as astrologers and holy men made declarations about the imminent time and date of the next major earthquake. The police have arrested several wouldbe thieves who went through

DONATELLA LORCH

Donatella Lorch is a former New York Times foreign correspondent.

Survivors of Nepal’s recent earthquake contend with persistent aftershocks and flimsy temporary homes. A family looking for shelter during a storm. NARENDRA SHRESTHA/EUROPEAN PRESSPHOTO AGENCY

neighborhoods predicting an earthquake with the aim of breaking into houses as residents fled. The government canceled a lecture by a respected Himalayan seismologists because it did not want to risk inspiring panic. I don’t close the bathroom door anymore, even in a public washroom, just in case it jams in a quake. I slept outdoors for a week, then on the floor close to a door that led to my yard for another week. Many of my neighbors still sleep outdoors. I always wear closed shoes, because I know I cannot run through rubble in sandals. I carry a go-bag everywhere, with essentials like bottled water. Every crack, car backfire, slamming door makes me rush to the door. My stress hormones really hit a new high when I dropped my son off at school and many of the other parents were talking about reports that a British seismologist had predicted another large earthquake. What became my saving grace was meeting Roger Bilham, another British seismologist, a professor at the Univer-

sity of Colorado and one of the world’s experts on Himalayan tectonics, who explained to me the beauty in the word “creep.” Earthquakes cannot be predicted. This is what we need to know. The April 25 earthquake did not break the earth’s surface. The Kathmandu Valley moved only 1.5 meters. It could have moved as much as six more meters, but it got stuck and not enough energy dissipated. Yes, there could be another earthquake, but it could happen tomorrow, in a year, in a decade or beyond. In a far less violent scenario, the Indian plate could gently creep or slide under the Eurasian plate, or an earthquake could take place deep inside the Indian plate. Or the stuck plate could push and raise the Mahabharat mountains. With my introduction to creep, my fear level dropped from a nine to a five out of 10. I am where I am. I live where I live. I can only control certain parts of my life. Yes, it will take a while before I wear sandals again. I live in a country above a stuck tectonic plate. I cannot control that.

do’s death, the police broke up demonstrations in Complexo do Alemão, a patchwork of favelas. But in much of Brazil, proponents of harsh policing tactics are growing stronger. Responding to widespread fears in a country with more homicides than any other — 50,108 in 2012, according to the United Nations — conservative politicians with

law enforcement backgrounds and tough talk on crime collected huge vote counts in recent state and federal elections. One rising political star, Paulo Telhada, boasted of killing more than 30 people as a police officer in São Paulo. Researchers say the reasons for the large numbers of police killings are varied. Poorly trained and poorly paid police forces in crime-plagued slums are often imbued with a shootfirst instinct stemming from a mixture of fear, paranoia and a sense of impunity. As drug gangs control many prisons, arresting criminals and sending them to jail is viewed by some police officers as feeding the growth of crime, not reducing it. Michel Misse, a sociologist at the Federal University of Rio de Janeiro, said that in 707 cases against police officers, prosecutors declined to press charges in more than 99 percent of them. In the case of Eduardo, Luiz Fernando Pezão, Rio’s governor, acknowledged that a “mistake” had taken place. “Those are just words,” Ms. de Jesus said. “Sometimes I close my eyes and imagine he’s still alive,” she said of Eduardo. “Then I open my eyes and it’s as if the world is beating me down,” she added. “My boy is dead.”

Political Crisis Pushes Burundi to the Edge By ISMA’IL KUSHKUSH

BUJUMBURA, Burundi — At Prince Regent Charles Hospital, a facility that speaks of better days in this central African country, Armel Manirambona lay on a bed with a bullet wound in his abdomen. “We were running in the street, and then I was shot,” said Mr. Manirambona, 27, an information technology worker who lives in the capital. Mr. Manirambona is one of scores of people who have been wounded while demonstrating against President Pierre Nkurunziza, whose pursuit of a third term in office has thrown the country into crisis. The protests have been met harshly by security forces, and at least 20 people have been killed. Mr. Nkurunziza’s bid is raising questions because the Constitution says a president’s five-year mandate may be renewed only once. He contends that his first term should not count toward the limit because he was initially elected in 2005 by Parliament, not voters. After almost a month of daily protests and the failure of a coup attempt on May 14, the crisis has begun to take a severe toll on the economy and daily life of the country, and seems only to be getting worse. Burundi, one of the world’s poorest countries, depends on foreign aid for more than half of its national budget. Belgium, the country’s biggest donor and former colonial ruler,

has warned Mr. Nkurunziza that it would cut off all aid if he ran in the election on June 26. The country’s currency, the Burundian franc, has been falling against the dollar, prompting many Burundians to rush to exchange francs for hard currency before it weakens further. The unrest has disrupted business in Bujumbura. At the normally busy La Faveur supermarket, workers waited for shoppers recently who did not come, while the perishable food on the store’s shelves spoiled. Many residents of neighborhoods where the demonstrations have been intense are blocked from going to work by protesters, who say life cannot go on as normal. “We support the protests,” said Hakizimana Fides, 35. “But our employers will not understand.” Many people here fear that there may be worse to come, especially if the unrest takes on an ethnic dimension, between the Hutu and Tutsi. The United Nations estimates that at least 100,000 Burundian refugees have fled to neighboring countries. At the Burundi Immigration Office, hundreds of people lined up recently hoping to obtain travel documents so they can leave the country. “I want to go to Rwanda,” said Clementine Niyonkuru, 22. “I will come back when this situation ends.” Tresor Ismael, 22, was blunt about why he wanted to leave. “I am scared,” he said.

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Tunisians Brace for Truths About a Legacy of Torture Mohamed Hamemi, second from far left, is one of thousands of Tunisians ready to tell a commission about being tortured while his country was under authoritarian rule.

Continued from Page 1 Though the truth commission process can be painful, leaving it undone could allow old grievances to fester and eventually erupt again. But doubts are mounting that Tunisia’s truth commission will achieve its high-minded goals. The country’s two main political parties seek reconciliation in the interest of national stability, but seem less interested in justice. And members of the old regime’s political and business elite have retained influence in the new democratic order. Mr. Essebsi, who held senior positions under both dictatorships, himself said he has proposed amnesty for businessmen accused of corruption if they invest their money in Tunisia. “There is resistance from the administration, so we have many challenges,” said Sihem Bensedrine, a former journalist and human rights activist who leads the commission. “That is our job, to deconstruct the machine, understand how it works, and then rebuild and see what not to do.” Over the next four to five years, the commission plans to reveal the full range of human rights violations during nearly 60 years of authoritarian rule, and to hold the most egregious offenders accountable. Its time frame starts in 1955, a year before independence from France, and includes the long rule of two dictators, Presidents Habib Bourguiba and Zine elAbidine Ben Ali. It encompasses a mass killing during the independence movement; the torture and imprisonment of about 30,000 trade unionists, students, leftists and Islamists; and the casualties of the 2011 revolution that began the Arab Spring: 338 dead and 2,147 wounded.

MAURICIO LIMA FOR THE NEW YORK TIMES

“It is not about one regime or another,” said Emtyez Bellali, a project associate at the World Organization Against Torture’s chapter in Tunis. “Torture has been the way of governance in this country. We should fight it because it is in the mentality of everyone.” While the nation’s authoritarian leaders were promoting Tunisia as a modern country of universal education and emancipated women, they were also running a system of torture and repression, hidden from view, that broke families and silenced dissent. The worst torture chambers were said to be those in the basement of the Interior Ministry, a gray concrete building at one

To ensure a better future, a nation pries into its past. end of a cafe-lined central boulevard. Neighbors would hear the screams of prisoners at 3 a.m., according to Mounira Ben Kaddour, secretary general of the Tunisian Women’s Association. Mr. Hamemi and two cellmates submitted their claims to the truth commission together. “They beat us with sticks and electric cables,” Mr. Hamemi said. “They would even put sticks in our private parts. They tied

our private organs and pulled them. I was also hung upside down on a door, hands tied, for five to six hours.” Mohamed Salah Barhoumi, a taxi driver who went to prison twice, said he had received similar treatment. “I was harassed for 13 years by the administration, and my family was, too,” he said. “Three days in a row, they did the ‘roast chicken’ on me. From night to day, slaps, blows, all kinds of kicking.” The torturers wanted information, and everyone gave up names and even confessed to crimes they had not committed, Mr. Hamemi said. Rached Jaidane, a professor, was imprisoned for 13 years for plotting against the president, a

Want Fireworks? Say ‘I Do’ An elephant. Water cannons. A five-kilometer race at 7 a.m. These are just some of the elements that couples are incorporating into their weddings. For the LENS elephants, American couples need look no further than California-based Have Trunk Will Travel. Kari Johnson’s five elephants can each be rented for about $6,500, elaborate outfit included. Her clients are not limited to South Asians. “We did one that was a Jewish wedding, and the elephant smashed the glass for the groom,” Ms. Johnson told The Times. Save Our Ships New York, meanwhile, will shoot water from all six water cannons on its 1931 fireboat, the John J. Harvey, for half an hour at a private For comments, write to nytweekly@nytimes.com.

event. The cost: $2,500. For those not content with traditional ceremonies, it seems the sky is the limit. Or, in some cases, the sky is part of the show. Fireworks are also an option, as are aerial banners and skywriting. Concepts that sound simple on paper can be tricky, and expensive, to pull off. “The bane of all wedding planners these days is Pinterest,” Steve Kemble, an event designer in Dallas, told The Times. Couples “see this stuff online and have no idea what it costs.” Some couples put themselves and their guests through physical tests as part of their big day. Laura Oliver and Paul Donnelly, who met in a running club in Illinois, ran a five-kilometer race along with their guests before their ceremony. Heather Suddaby and her husband, Aaron, both military veterans, braved Vermont’s Tough Mudder along with their best man and officiant after exchanging their vows. Of the mucky 16-kilometer run through 20 punishing obstacles,

charge he says was invented. He has since tried to sue officials, with little success. “It is important to have public hearings on television,” Mr. Jaidane said, so that generations to come will know what happened. Many victims who hoped for swift justice after the revolution are disillusioned by how slow the process has been. Advocates complain of a lack of political will, as well as inefficiencies in the truth commission. But Mr. Hamemi said he wanted to hear his torturers apologize. “I could have done it with my own hands after the revolution,” he said, “but I want to do it by the law.”

Putting a wedding party through an obstacle course.

MARIO TAMA/GETTY IMAGES

Many couples don’t want a traditional marriage ceremony. Landrum and Julie Hughes included a parade in New Orleans. the bride said: “It is horrible. I’m not going to lie.” Which is why some couples either make wedding activities optional or go it alone. Even yoga may be beyond the abilities of some guests. “You have to think: Can Grandma do downward dog?” Kellee Khalil, the founder and chief executive of the wedding planning site Lover.ly, told The Times. Many couples planning their

second wedding feel it gives them an opportunity to have a ceremony more to their own liking. “The second time around, people get to act upon the things that are important to them that got lost the first time in the hubbub of mothers and mothers-in-law, money, the whole wedding-industrial complex,” Matt Mendelsohn, a wedding photographer in Virginia, told The Times.

One difference is that whereas a couple’s parents often pay for a first wedding, the bride and groom are more likely to be covering the costs the second time. “They’re paying, so they’re calling the shots,” said David Beahm, a Manhattan-based event designer. Andrea Seabrook’s first wedding was a “tasteful” event in a historic Episcopal church, and Kirk Easton’s was a 10-minute civil ceremony in a hotel basement. When they married each other, they did so in a Quaker wedding service on the West Lawn of the Jefferson Memorial in Washington. “It was exactly what we wanted to do for the least amount of pomp and circumstance,” Ms. Seabrook said. This is what Mr. Mendelsohn hopes for with all the couples whose weddings he photographs. Then again, he said, “The lucky ones are the ones who figure out how to do the second wedding the first time.” TESS FELDER

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China’s New Weapons A Message to the U.S. By DAVID E. SANGER and WILLIAM J. BROAD

WASHINGTON — After decades of maintaining a minimal nuclear force, China has re-engineered many of its long-range ballistic missiles to carry multiple warheads, a step that American officials and policy analysts say appears designed to give pause to the United States as it prepares to deploy robust missile defenses in the Pacific. The technology of miniaturizing warheads and putting three or more atop a single missile has been in Chinese hands for decades. But Chinese leaders let it sit unused; they were not interested in getting into the kind of arms race that characterized the Cold War between the United States and the Soviet Union. Now, President Xi Jinping appears to have altered course, at the same moment that he is building military airfields on disputed islands in the South China Sea, declaring exclusive Chinese “air defense identification zones,” sending Chinese submarines through the Persian Gulf and creating a Fitting in More Warheads China has started arming its long-range missiles with multiple warheads, a U.S. Defense Department report says. Nose cone Warheads

The original missile design has a single warhead inside the nose cone.

The new model has multiple warheads that can be aimed independently. THE NEW YORK TIMES

powerful new arsenal of cyberweapons. Many of those steps have taken American officials by surprise, in particular after intelligence agencies had predicted that Mr. Xi would focus on economic development. The United States Defense Department disclosed Beijing’s new nuclear program in its annual report to Congress about Chinese military capabilities. The American secretary of state, John Kerry, recently went to Beijing to discuss security and economic issues, although it remained unclear whether this development with the missiles was on his agenda. President Barack Obama is under pressure to deploy missile defense systems in the Pacific, although American policy officially states that those interceptors are to counter North Korea. At the same time, the president is trying to signal that he will resist Chinese efforts to intimidate its neighbors. Hans M. Kristensen, director of the Nuclear Information Project at the Federation of American Scientists, a policy research

President Xi Jinping takes steps former leaders wouldn’t. group in Washington, called the new Chinese warheads “a bad day for nuclear constraint.” To American officials, China’s move fits into a rapid transformation of their strategy under Mr. Xi. Chinese efforts to reclaim land on disputed islands in the South China Sea underscored the intensity of Mr. Xi’s determination to push potential competitors out into the mid-Pacific. China has sought technologies to block American surveillance and communications satellites, and its major investments in cybertechnology are viewed by American officials as a way to steal intellectual property and prepare for future conflict. The upgrade to the nuclear forces fits into that strategy. “This is obviously part of an effort to prepare for long-term competition with the United States,” said Ashley J. Tellis of the Carnegie Endowment for International Peace. American nuclear forces today outnumber China’s by eight to one. The choice of which missiles to upgrade was notable, he said, because China chose “one of few that can unambiguously reach the United States.” The United States pioneered multiple warheads early in the Cold War. In theory, one missile could release warheads that adjusted their flight paths so each zoomed toward a different target. The term for the technical advance — multiple independently targetable re-entry vehicle, or MIRV — became one of the Cold War’s most dreaded fixtures. Each re-entry vehicle was a miniaturized hydrogen bomb, more destructive than the weapon that leveled Hiroshima. In 1999, during the Clinton administration, Republicans in Congress charged that Chinese spies had stolen the secrets of H-bomb miniaturization. But intelligence agencies noted Beijing’s restraint. The calculus shifted in 2004, when the Bush administration began deploying a ground-based antimissile system in Alaska and California. Early in 2013, the Obama administration, worrying about North Korean nuclear advances, ordered an upgrade. Today, analysts see China’s addition of multiple warheads as at least partly a response to Washington’s antimissile strides. The Defense Department report, released on May 8, said that Beijing’s most powerful weapon now bore MIRV warheads. Mr. Kristensen said Beijing’s membership in “the MIRV club strains the credibility of China’s official assurance that it only wants a minimum nuclear deterrent and is not part of a nuclear arms race.”

MERIDITH KOHUT FOR THE NEW YORK TIMES

The Missionary Union for the Sick are followers of Archbishop Óscar Romero who live their lives as he did, by caring for the poor. Members visiting the sick in San Salvador.

Focus on Poor Revives a Theology Continued from Page 1 regard him as a towering moral figure: an outspoken critic of social injustice and political repression who was assassinated during Mass in 1980. Francis broke the stalemate. “It is very important,” Father Gutiérrez said. “Somebody who is assassinated for this commitment to his people will illuminate many things in Latin America.” The beatification is the prelude to what is likely to be a defining period of Francis’ papacy, with trips to South America, Cuba and the United States; the release of a much-awaited encyclical on environmental degradation and the poor; and a meeting in Rome to determine whether and how the church will change its approach to issues like homosexuality, contraception and divorce. By advancing the campaign for Archbishop Romero’s sainthood, Francis is sending a signal that the allegiance of his church is to the poor, who once saw some bishops as more aligned with discredited governments, many analysts say. “It is not liberation theology that is being rehabilitated,” said Michael E. Lee, an associate professor of theology at Fordham University in New York City. “It is the church that is being rehabilitated.” Liberation theory includes a critique of the structural causes of poverty and a call for the church and the poor to organize for social change. The movement emerged after a meeting of Latin American bishops in 1968 and was rooted in the belief that the plight of the poor should be central to interpreting the Bible and to the Christian mission. But with the Cold War in force, some critics denounced liberation theology as Marxist, and a conservative backlash followed. “All that rhetoric made the Vatican very nervous,” said Elisabeth Malkin, Gene Palumbo and Jonathan Gilbert contributed reporting.

Ivan Petrella, an Argentine scholar of liberation theology. “If you were coming from behind the Iron Curtain, you could smell some communism in there.” John Paul reacted by appointing conservative bishops in Latin America and by supporting conservative Catholic groups such as Opus Dei and the Legionaries of Christ, which opposed liberation theology. In the 1980s, Cardinal Joseph Ratzinger — later to become Pope Benedict XVI, but then the Vatican’s enforcer of doctrine — issued two statements on liberation theology. The first was critical, but the second was milder, leading some analysts to wonder if the Vatican was easing up. From his 1973 appointment as head of the Jesuits in Argentina, Francis, then 36 and known as Jorge Mario Bergoglio, was viewed as deeply concerned with the poor. But religious figures who knew him then say Francis thought liberation theology was too political. When he was named archbishop of Buenos Aires, his focus became those left behind by Argentina’s economic upheaval. “With the end of the Cold War, he began to see that liberation theology was not synonymous with Marxism, as many conservatives had claimed,” said Paul Vallely, author of “Pope Francis: Untying the Knots.” He “began to see that economic systems, not just individuals, could be sinful.” Fra ncis has expressed strong criticism of capitalism, acknowledging that globalization has lifted many people from poverty but saying it has also created great disparities and “condemned many others to hunger.” He has warned, “Without a solution to the problems of the poor, we cannot resolve the problems of the world.” In Argentina, some critics are unconvinced that Francis’ outspokenness about the poor represents an embrace of liberation theology. “He never took the reins of

liberation theology because it’s radical,” said Rubén Rufino Dri, who worked in the late 1960s and 1970s with a group of priests active in slums in Buenos Aires. To him, Francis’ decision to expedite Archbishop Romero’s beatification was political. “It’s a populist maneuver by a great politician,” he said. Others offered a more nuanced view. José María di Paola, 53, a priest who is close to Francis, said the beatification reflected a broader push by Francis to reduce the Vatican’s focus on Europe. “It’s part of a process to bring an end to the church’s Eurocentric interpretation of the world and have a more Latin American viewpoint,” he said. Many analysts note that John Paul and Benedict never outright denounced liberation theology and slowly started to pivot in their views. In 2012, Benedict reopened Archbishop Romero’s beatification case. Francis often urges believers to act on behalf of the poor, saying if they do, they will be transformed. For those who knew Archbishop Romero in El Salvador, this transformation was notable. Once considered a conservative, he began to change in the mid-1970s, when he was the bishop of a rural diocese where government soldiers had massacred peasants. Shortly after he became archbishop of San Salvador, he was horrified when a close friend, a Jesuit priest, was murdered, and he soon began to speak out against government terror and repression. “He began to surprise people,” said Jon Sobrino, a prominent liberation theologian. “They made him be different, be more radical, like Jesus.” In 2007, Father Sobrino had his own clash with the Vatican when the doctrinal office disputed some of his writings. He refused to alter them and attributed the freeze on Archbishop Romero’s beatification partly to Vatican hostility. “It has taken a new pope to change the situation,” he said.

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Comedian Enlisted To Dissuade Jihadists By KATRIN BENNHOLD

LONDON — Humza Arshad pokes fun at Pakistani accents and emotional soccer fans. He jokes about his weight, his voice and his own mother. But mostly, he laughs at jihadists. “Have you noticed how in those terrorist videos they’re always sitting on the floor?” Mr. Arshad asked a group of high school students the other day. “What’s up with that? I swear they can afford a chair.” And their pants: “Always coming up to here,” he said, pointing at his shin, “like, did you borrow this from your little brother or something?” Mr. Arshad, 29, is a practicing Muslim in hip-hop gear whose YouTube videos have drawn millions of views. He is the centerpiece of the British government’s latest effort to prevent students from joining the Islamic State. Since March, Mr. Arshad has

Joking about ISIS so students won’t join its ranks. been on tour with the counterterrorism unit of the Metropolitan Police. They have already taken their act (“Ten percent message, 90 percent comedy”) to more than 20,000 students in 60 high schools across London. Mr. Arshad was visiting Los Angeles at the end of May to meet with Hollywood studios and television networks, and talk with American schools about his work against extremism. About 700 British Muslims have traveled to Syria. Schools here have been on high alert especially since February, when three teenage girls left their family homes. He knows the brother of one of the girls well. “I wish I could have prevented my friend’s sister from going,” he told the packed auditorium at a west London high school one recent afternoon. “Listen, I’m here for two rea-

sons,” he said. “Number 1, I’m a British citizen, and I’m proud of where I’m from. Number 2, I don’t want people losing their lives. That’s not what Islam is about.” “But there are some misguided individuals who are giving us a bad name,” he said. “We all have to do our part.” It is a message that police officers find harder to communicate, said Rick Warrington of the Counter Terrorism Command, or SO15, who held the session with Mr. Arshad. “I come in plainclothes,” he said, “but I’m still a 45-year-old white police officer.” Like many students he visits, Mr. Arshad takes his religion seriously. But that does not stop him from ridiculing jihadists. “Their ankles are very dry,” he said. “I’m just, like, looking at the ankles, and I’m thinking, bro, I don’t even think they have E45 cream in Syria. Maybe we should make a donation.” Born and raised in London, Mr. Arshad experienced firsthand how perceptions of Muslims changed in Britain. He was 15 when terrorists flew two planes into the World Trade Center in 2001. Four years later, bombs blew up on London’s public transport system. After finishing drama school, he found himself being offered minor roles as the terrorist. “I didn’t want to be typecast as the Muslim, you know, Terrorist Number 2 on the plane with just one line: ‘Allahu akbar!’ ” he said. He uploaded a video in 2010 about a young Muslim complaining about his Pakistani mother, who beat him up and cooked too many lentils. It went viral and got more than a million views in 10 days. “Diary of a Bad Man” was born, a YouTube satire of life as a young British Asian. Today, his YouTube channel has over 245,000 subscribers, mostly teenagers. It was a big decision to work with the police, Mr. Arshad said: “Of course I was worried that it would hurt my street cred.” But he wanted to do his part. The hate mail still gets to him. “I’m not a politician, I’m a comedian,” he said.

ROB STOTHARD FOR THE NEW YORK TIMES

Humza Arshad uses humor to discourage high school students in London from joining the Islamic State.

SERGEY PONOMAREV FOR THE NEW YORK TIMES

Talk of ISIS’ Decline Was Premature By TIM ARANGO and ANNE BARNARD

commands access to new oil and gas fields; has a critical network of roads; and includes an ancient BAGHDAD — When Western site that provides opportunities and Iraqi officials talked about for both propaganda and illegal the Islamic State in April, it was antiquities trafficking. mostly to list a series of setbacks The offensives have allowed to the terrorist group: defeated the Islamic State to become even in the Syrian town of Kobani, batmore deeply entrenched in tertered by a heavy airstrike campaign, forced out of a growing list ritory whose desert geography of towns and cities in Iraq. and disenchanted local populaBut in the past couple weeks, tion work in its favor. the Islamic State has solidified “ISIS overextended itself and its hold on Iraq’s Anbar Provis getting pushed back to areas where they can control ince with an assault on the more effectively,” said regional capital, Ramadi. Brian Fishman, a counterAnd it stretched its territory in Syria into the imterrorism analyst at the New America Foundation. portant city of Palmyra. “The historical homeland The twin offensives have for this organization is Falbecome a sudden showcase for the group’s disluja, Ramadi, Anbar and Mosul.” ciplined adherence to its With the victory in Racore philosophies: always fighting on multiple fronts, madi, the Islamic State wielding atrocities to scare claimed the last major off resistance and enforccenter of the Sunni Arab heartland and, with the ing its caliphate in the Sunadvance into Palmyra, has ni heartland that straddles expanded it. the Iraqi-Syrian border. Hassan Hassan, an auWithin Iraq, the group’s offensive was taking shape thor of “ISIS: Inside the ArSTRINGER/IRAQ/REUTERS almost immediately after my of Terror,” saw the shift Residents of Ramadi fled toward the government’s April as a particular challenge Baghdad after the ISIS takeover. Top, victory in the central city of to the group’s enemies. Tikrit. Islamic State fightISIS is also in control of Palmyra, Syria, “It’s really hard to conquer these areas or retake them, ers took up simultaneous which has a trove of antiquities. because in the local popupressure campaigns on Iraq’s largest oil refinery, lation there’s almost no reUnited States Defense Secrenorth of Baghdad in Baiji, and on sistance to the group here.” Ramadi. In Diyala, the group, alISIS has been skillful in taptary Ashton B. Carter said that Iraqi forces had demonstrated so known as ISIS or ISIL, orchesping into Sunni grievances “no will to fight” against ISIS. against the Shiite government trated a prison break. The Islamic State has not in Baghdad and the Alawite govThe scope of operations now stopped with Ramadi: It has also seems to have been designed to ernment in Damascus. swept into new territory in Syria. wear out the Iraqi security forc“The only solution for the sitIn taking Palmyra, the group has es and make sure they were disuation now is national reconfor the first time seized a Syrian persed when the Islamic State ciliation governments in both city from government forces. began its heaviest push against countries, Iraq and Syria, which There, the Islamic State appears Ramadi, said Jessica Lewis Mcis impossible now,” said Jalal to have used a more ordinary arZein al-Din, a Syrian journalist Fate, an analyst at the Institute who is part of an antigovernment for the Study of War, a research senal of foot soldiers, tanks and news agency. “So I.S. is going to organization in Washington that antiaircraft guns mounted on remain in the region, a state from has advocated a bigger response trucks, relying on its adversary’s Raqqa to Mosul.” by the United States. weakness and the extreme fear ISIS envisioned itself as being When the main Islamic State it has managed to instill with its at perpetual war with its surassault on Ramadi began on May atrocities. 14, it employed resources that Several days before its main rounding enemies and saw an evhad been prepared long before offensive on Palmyra, the Iser-shifting zone of control rather and were unleashed in an inthan a place with boundaries. lamic State beheaded dozens of “They conceptualize the casoldiers, government supporters tense burst of violence that broke and their families in an outlying the remaining defenders. The liphate as the people living on village and widely disseminatterritory the caliphate controls, rather than a fixed geography,” Emmarie Huetteman, Omar ed the images. The group also Mr. Fishman said, adding, “What Al-Jawoshy, Hwaida Saad and chose its target wisely. Palmyra matters to them is commitment Maher Samaan contributed has a relatively small population to the caliph.” reporting. to provide for and control, but it militants sent in 10 bomb-laden vehicles, each believed to have the explosive power equivalent to 2,300 kilograms of TNT. Entire city blocks were destroyed. Sleeper cells of Islamic State loyalists then rose up, according to witness accounts, helping the group quickly take control as its fighters advanced into new parts of Ramadi. Local Sunni fighters who had defended the city for nearly a year and a half left in droves on May 17.

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MONEY & BUSINESS

After Airline Collapses, Executives Were Jailed By DAVID GELLES and CHARLES NEWBERY

It might have been the volcano. In mid-2012, a litigious Brazilian union, a surge in jet fuel prices and a change in government as well as a volcanic eruption combined to send Uruguay’s national airline, Pluna, into rough times. The collapse of the airline also wrecked the investment of the private equity firm that was the airline’s majority owner. But the damage to the firm was much more than financial. “We are writing to you from an Uruguayan prison,” the three founders of Leadgate wrote in February 2014 to their investors. A Uruguayan judge and prosecutor have been investigating the collapse for three years, pursuing accusations of wrongdoing. But in a peculiarity of the Uruguayan justice system, no charges have yet been brought. After studying and working abroad, Matías Campiani, an Argentine businessman who headed Pluna, Arturo Álvarez-Demalde and Sebastián Hirsch founded Leadgate in 2004 to invest in Latin America.

The firm made its first investment in Uruguay in 2005, buying Parmalat Uruguay from the troubled Italian dairy company. The Leadgate team restructured $32 million in debt, successfully negotiated with the government and unions, shored up milk production and returned the company to profitability. In 2007, Leadgate sold Parmalat Uruguay and began looking for the next investment. That turned out to be Pluna, which the Uruguayan government had taken over after its owner, the Brazilian airline Varig, filed for bankruptcy in 2005. Leadgate acquired 75 percent of Pluna for $15 million in 2007. The government retained 25 percent. Pluna recruited executives from American Airlines and British Airways, bought several new jets and opened new routes. Within two years, Pluna tripled both passenger count and revenues. In 2011, Argentina imposed stiff capital controls to protect its dollar reserves. Pluna, which sold half its tickets out of Buenos Aires, suddenly had difficulty

CLAUDIO SANTANA/AGENCE FRANCE-PRESSE — GETTY IMAGES; ABOVE LEFT, MIGUEL ROJO/AGENCE FRANCE-PRESSE — GETTY IMAGES

A volcanic eruption in 2011 hurt the travel industry. Private equity investors were jailed after Pluna, the Uruguayan national airline, went bankrupt; they have since been released.

For a private equity firm, a bad deal cost more than money. tapping that cash, making it hard to pay salaries and buy fuel. The weak Argentine currency also meant travel to Uruguay fell. Then the Puyehue volcano in Chile erupted, snarling air travel. In 2010, a new president had come into office: José Mujica, a former guerrilla fighter. The government began demanding punitive terms from Pluna. The most damaging development came in 2012 with the bankruptcy of Varig. Brazilians who lost their jobs in the bankruptcy filed claims against any potential creditor, including Pluna.

Leadgate’s partners arranged for a new $30 million line of financing. Uruguay’s representatives on the Pluna board, however, voted against the debt. Leadgate returned its 75 percent stake in Pluna to the Uruguayan government on June 15, 2012. Leadgate received nothing in return. Shortly after, the airline union went on strike. The government shuttered Pluna and liquidated it. For Mr. Campiani and his two partners, that should have been the end of it. But members of Mr. Mujica’s party filed complaints about purported misdoings in the sell-off of Pluna’s planes. In December 2013, Mr. Campiani, Mr. Álvarez-Demalde and Mr. Hirsch were asked to testify. They ended up in jail. Among the supposed wrongs: After Pluna’s bankruptcy, the state-owned oil company Ancap

tried to cash unredeemed checks from Pluna. The checks bounced, leading Ancap to assert that Mr. Campiani was stealing. Mr. Campiani’s lawyers have said an unsophisticated judge and prosecutor had misunderstood common business practices. The judge, however, decided that the men would be tried. Mr. Álvarez-Demalde, now 42, was freed in April 2014. Mr. Hirsch, 44, was released in February. Mr. Campiani, though, remained in prison for more than a year until he was released on May 22. “There was no evidence of fraud,” said Martin Harrison, the former chief operating officer of Pluna. “They basically fell afoul of the political situation there.” In March, Mr. Vázquez was again elected president and his moderate faction returned to power.

Russia’s Entry Into the Smartphone Market Is Slow to Catch On Russian President Vladimir V. Putin has pushed for more innovation. The YotaPhone 2 was introduced in April.

By NEIL MacFARQUHAR

MOSCOW — Few people looking to buy a smartphone would think about a Russian model, but the makers of the YotaPhone aspire to change that. The start-up’s quest to break into the global market for cellphones got a boost from President Vladimir V. Putin, who has renewed a push to make innovation the next big thing for Russia’s struggling economy. The very idea of an “innovative Russian consumer gadget” tends to provoke jokes. After throwing off the yoke of Soviet central planning, Russia failed to translate its wealth of scientific and engineering talent into competitive, marketable products, and many scientists left for the West. Dmitri A. Medvedev, the president between Mr. Putin’s two times in office, championed a $4 billion project to cultivate a Russian Silicon Valley in suburban Moscow. Starting in 2009, a graduate technological research Alexandra Odynova contributed reporting.

Soviet-style thinking hinders a country’s push to innovate. university and a state-backed innovation foundation were established under the tutelage of the Massachusetts Institute of Technology. It never blossomed, and Mr. Putin has shown scant interest in the project. Last year, however, he resurrected innovation as a key objective after the crisis in Ukraine prompted Western economic sanctions. Mr. Putin has said that the current tensions will wean Russia from Western goods and technology. The phone’s creator, Vladislav Martynov, 45, had been working abroad when a friend lured him back to Moscow in 2008 with the idea of building a better smartphone. While inspired by gifted Russian software developers, Mr. Martynov subscribed to a

JAMES HILL FOR THE NEW YORK TIMES

main tenet of globalization: Few products emerge from one country alone. “Today, there is no nationality when you create a globally competitive product in the high-tech sector,” he said. The YotaPhone project’s roughly 100 employees include software engineers in Russia, Finnish hardware designers and multinational engineers who established the production line in Singapore. The YotaPhone prototype introduced in 2012 impressed international tech conferences with

its novel two-screen design, with one face acting like a standard smartphone and the other like an e-reader. The second screen supports various functions without draining the battery, such as keeping a boarding pass handy. In April, Mr. Martynov presided over a packed news conference to introduce a white version of the YotaPhone 2, hoping to create the kind of cachet — and sales — that has proved elusive, even in Russia. The loudest applause greeted his introduction of a line of colorful rubber

bumpers. Previously, dropping a YotaPhone often meant breaking it. That underscored a critical problem hindering new Russian products: Developers tend to work in isolation. Mr. Martynov appealed for developers to create applications for the second screen. There are now roughly 40, he said, compared with the million or so for the iPhone. Many experts trace the problems with innovation to the Soviet Union. The attitude that change starts with an order from the top persists. In addition, the government does not subscribe to globalization. When Mr. Medvedev was handed an early YotaPhone, he asked when production would start in Russia. Finding investors locally is not easy. Private venture capitalism is deemed too risky, and failure is considered an unacceptable outcome for anything funded by the government. “In general, Russians are very skeptical about themselves and their ability to create something good,” Mr. Martynov said.

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With Gas Prices Low, Buyers Bypass Hybrids

Following Amazon’s model, Singapore Post is building 24 warehouses in 12 countries to store products for companies. Singapore Post has nearly 1,000 e-commerce clients.

By LAWRENCE ULRICH

PHOTOGRAPHS BY EDWIN KOO FOR THE NEW YORK TIMES

Post Offices Turn to E-Commerce By ALEXANDRA STEVENSON

SINGAPORE — When a German lingerie brand wanted to sell bras online in Malaysia, it turned to Singapore’s nearly 200-yearold national postal service. Singapore Post built a website, developed a marketing strategy and now delivers packages for the company, Triumph International. The customer service team even answers questions about sizing. In South Korea, SingPost is helping to sell Levi’s jeans. In Singapore, it is stocking Toshiba laptops. In Malaysia, it is delivering Adidas sneakers. With traditional mail services in decline, post offices around the world are scrambling to reinvent themselves. Japan Post is buying the largest private package and freight delivery company in Australia, Toll Holdings, in a bid to create a rival to UPS and FedEx. The United States Postal Service, which lost $5.5 billion last year, is providing Sunday deliveries for Amazon. Australia Post is working with the Chinese Internet giant Alibaba to help local businesses connect with consumers in China. “There are at least two business trends unfolding before us,” said Frank Lavin, chief executive of the e-commerce consultancy Export Now. “One is the death of mail. The second is this boom in e-commerce.” SingPost’s makeover is among the most ambitious. Besides its regular postal duties, SingPost offers a basket of services for companies, including website development, online marketing, customer service and, of course, package delivery. Following the Amazon model, it is building a network of 24 warehouses in 12 countries to stockpile goods for companies. Its team is staffed with former Silicon Valley executives. Singapore’s central location, said Wolfgang Baier, the chief executive of SingPost, makes it a natural hub for e-commerce in Asia. He recited numbers to demonstrate the scale of the opportunity: Over 600 million consumers live in the region around Singapore, and 2.2 billion people are within a five-hour flight. “We want to be the gateway to the East,” he said. The shift has been stark for the postal service, once a stateowned company that went public in 2003. Four years ago, e-com-

merce barely figured into its bottom line. Today, it accounts for more than a quarter of the group’s revenues, which have grown by 60 percent during that same period. SingPost began using the Internet as a laboratory in the early 2000s. It dabbled in various parts of the supply chain, first delivering goods from American shops to Singaporean homes. It then tried selling products on its own homegrown platform. Two years ago, it created SP eCommerce to tap into the Internet retail boom in Asia. Today, it counts nearly 1,000 companies as clients, including Philips, Uniqlo, Deckers and Muji. SP eCommerce’s chief executive, Marcelo Wesseler, created his first e-commerce website in 1997 and worked in Silicon Valley before moving to Singapore.

New business for letter carriers as mail dies out. Other employees have come from technology stalwarts like Amazon and Hewlett-Packard. The company also created a customer-care department. At its Singapore offices, 30 or so employees handle the phones, answering questions or addressing complaints. An additional 200 agents work elsewhere. Last year, Alibaba paid $250 million for a 10 percent stake in SingPost. They are now in discussions to form a joint venture focused on e-commerce logistics in Southeast Asia. As part of the e-commerce expansion, SingPost upgraded its core

delivery services. It has bolstered its network of warehouses and fulfillment centers, which handle freight and customs clearance so goods can move faster through the region, where regulations differ from country to country. In Singapore, SingPost has invested $182 million in building a hightech warehouse that will merge logistics and sorting into one assembly line. Workers punch or scan an order on a screen, and robotic trays deliver products from shelves for them to pack and ship. SingPost is pitching itself as a conduit to the Asian consumer, particularly in countries like Indonesia, Vietnam and Malaysia. With its swelling population of young, mobile consumers with newly disposable incomes, the region offers new opportunities. Looking beyond its borders for growth, the Chinese smartphone maker Xiaomi last year opened a regional headquarters in Singapore, using it as a launching pad to move into Malaysia, the Philippines and Indonesia. Next, it is targeting Vietnam and Thailand. It teamed up with SingPost for support on logistics for e-commerce, which accounts for 80 percent of Xiaomi’s sales in Southeast Asia. SingPost is helping the Chinese telecom company ZTE to offer its products regionally through a website that will go live in a few weeks. ZTE is trying to sell its own brand of smartphones directly to consumers in new markets like Malaysia, Indonesia and India. Triumph International, the lingerie company, had been eyeing Southeast Asia for years, waiting for online consumers to reach a critical mass. Then, last year, Triumph approached SingPost to get started. “Using Singapore as a base, you can reach 680 million people in the region,” said Teo Doy, managing director of Triumph in Singapore. “That is practically half of China.” Next, Triumph is planning to expand into Indonesia, once again with the help of SingPost. “T hey have completely evolved,” Ms. Teo said. “I mean, who sends letters anymore?”

How far are consumers willing to go to own a car that became a rolling statement of environmental concern? There are limits, it appears. In 2012, with gas prices soaring, a hybrid owner could expect the car to pay back its higher upfront costs in five years. Now, with gas prices low, that payback period can be 10 years or more, and owners of hybrids and electric vehicles are defecting to sport utilities and other gasoline models. “We’d all like to save the environment, but maybe not when it costs hundreds of dollars per year,” said Jessica Caldwell, director of industry analysis for Edmunds.com. Erik Tufteland of Las Vegas traded his 2005 Honda Civic Hybrid for a 2014 Subaru Forester. He wanted an all-wheeldrive vehicle that could better handle ski and snowboard trips. Mr. Tufteland assumed he would dearly miss the economy of his Honda, but said the tradeoffs ultimately were not worth the modest fuel savings. “The fuel costs aren’t that different,” he said, “and the Subaru is so much more functional in terms of space, comfort and the ability to get me anywhere. It’s really the perfect car for me.” About 55 percent of American hybrid and electric vehicle owners are defecting to gasoline models at trade-in. More than one in five are switching to a sport utility. Through April, sales of electrified models slid to 2.7 percent of the market, down from 3.4 percent last year, Edmunds. com said. At the same time, sport utility vehicles grabbed 34.4 percent of sales, up from 31.6 percent. There is little mystery behind the shift in sentiment. To the delight of every fast-pumping American, a liter of regular gasoline has fallen to 70 cents on average, from nearly $1 in 2012, according to the Oil Price Information Service. The federal Energy Department figures that the average household will save $750 on fuel bills this year.

Before hybrid fans accuse their brethren of automotive treason, the former hybrid owners are not exactly trading Toyota Priuses for Cadillac Escalades. The universe of sport utility vehicles — once rife with gas-guzzling land yachts — has expanded to include wildly popular compact and even subcompact models whose fuel economy has jumped by up to a third in less than a decade. Even the biggest S.U.V.s, pickups and sedans have toned down their thirst, giving buyers better reasons — or a handy excuse — to choose a larger, more capable vehicle. Scott Vazin, a Toyota spokesman, acknowledged that there was more technological parity today, but said Toyota had faith in its expanding hybrid lineup. “We still see hybrid as a clear advantage in overall efficiency,” he said. “They might not

Cost trumps drivers’ concern for the environment. be the flavor of the month, but we know where fuel prices are going, and that it’s a finite resource.” General Motors is readying an all-new 2016 Volt electric car for showrooms this autumn. Like other automakers, G.M. is striving to cut costs and improve performance of its electrified models to make them more competitive. Pamela Fletcher, G.M.’s executive chief engineer for electrified vehicles, noted that hybrid and all-electric loyalists find advantages beyond dollars and cents, from smooth, silent electric operation to the convenience of bypassing the pump to charge at home. She said that G.M. was taking the long view with its electrified fleet. “We can’t say, ‘Just kidding, we’re going to put this Volt on the shelf and see where gas prices go,’ ” she said.

EMILY WILSON FOR THE NEW YORK TIMES

Erik Tufteland of Las Vegas, who once drove a Honda Civic Hybrid, switched to a Subaru Forester.

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Sounding The Alarm In the Forest PHOTOGRAPHS BY JEREMY ROBERTS FOR THE NEW YORK TIMES

With the aid of this robotic owl, researchers are trying to understand how birds signal alarm. Right, Erick Greene, a professor of biology at the University of Montana, filling a feeder to attract the small birds whose calls he is studying. By CHRISTOPHER SOLOMON

MISSOULA, Montana — In a backyard, small birds flitted to and from the feeder — blackcapped chickadees, mountain chickadees, red-breasted nuthatches. They were oblivious to a curious stand nearby, topped by a curtain. Erick Greene, a professor of biology at the University of Montana, stepped away from the stand and stood by the home’s back door. He pressed the fob of a modified garage-door opener. The curtain dropped, unveiling a taxidermied northern pygmy owl. Its robotic head moved from side to side. The yard hushed, then erupted in sound. Soon birds arrived from throughout the neighborhood to ornament the branches of a hawthorn above the mobbed owl and call out yank-yank and chick-adee. As a recorder captured the ruckus, its instigator grinned with delight. “For birds, this is like a riot,” Dr. Greene said. Studies in recent years by many researchers, including Dr. Greene, have shown that animals such as birds, mammals and even fish recognize the

alarm signals of other species. Red-breasted nuthatches listen to chickadees. Dozens of birds listen to tufted titmice. Squirrels and chipmunks eavesdrop on birds, sometimes adding their own thoughts. In Africa, vervet monkeys recognize alarm calls by superb starlings. Dr. Greene says he wants to better understand the nuances of these bird alarms. His hunch is

Even the squirrels are listening to birds’ warnings. that birds are saying much more than we ever suspected, and that species have evolved to decode and understand the signals. At his laboratory, Dr. Greene plugged the recording of the pygmy owl fracas into a computer. The calls appeared as a spectrogram — essentially musical notation. One call lasts only a second or three, but can have up to a dozen syllables.

“It’s cutting-edge stuff,” said Jesse Barber, an assistant professor at Boise State University in Idaho who studies animal acoustics. Dr. Greene is looking at communication “across large swaths of habitat, and this is really where the field has yet to go,” Dr. Barber added. “It’s a new frontier for animal communication work.” Dr. Greene’s interest in the subtlest bird alarms developed several years ago while studying lazuli buntings. The buntings occasionally stopped responding to the artificial calls he broadcast and instead dived into the bushes. “And then maybe four, five minutes later, a Cooper’s hawk” — a major predator of small birds — “would cruise by,” he said. Clearly, some signal was spreading among them. “Seet” calls, peeps produced by many small songbirds in response to a raptor on the wing, are well-known to ornithologists. Conventional wisdom held that the calls dissipated quickly and were produced only for other birds nearby. However, that’s not what Dr. Greene noticed: chatter sweeping across the hillside, then birds diving into bushes.

He documented a “distant early-warning system” among the birds in which the alarm calls were picked up by other birds and passed through the forest at more than 160 kilometers per hour. While raptors can hear well at low frequencies, they are not good at hearing at 6 to 10 kilohertz, the higher frequency at which seet calls are produced. “So it’s sort of a private channel,” he said. Dr. Greene turned to chickadees. When one sees a perched raptor nearby, it will issue its well-known “chick-a-dee” call, a loud, frequent and harsh sound known as a mobbing call because its goal is to attract other birds to harass the predator until it departs. Dr. Greene has demonstrated how black-capped chickadees embed information about the size of predators into these calls. When faced with a high-threat raptor, the birds not only call more frequently, they also attach more dee’s to their call. Raptors tend to be the biggest threat to birds nearest their own size because they can match the maneuverability of their prey.

So a large goshawk might only merit a chick-a-dee-dee from a nimble chickadee, while that little pygmy owl will elicit a chicka-dee followed by five or even 10 or 12 additional dee syllables, Dr. Greene said. Red-breasted nuthatches, which are chickadee-size and frequently flock with them in the winter, eavesdrop on their alarm language, too. Dr. Greene found that “squirrels understand ‘bird-ese,’ and birds understand ‘squirrel-ese.’ ” When red squirrels hear a call announcing a dangerous raptor in the air, or they see such a raptor, they will give calls that are acoustically “almost identical” to the birds, Dr. Greene said. Dr. Greene pointed to the alarm call on the spectrogram in response to the pygmy owl. “All of these notes are acoustically very different, and they might have different meanings,” Dr. Greene said. “That sound humans hear simply as chick-a-dee actually could contain information differentiating between a Cooper’s hawk and a pygmy owl. We know birds hear this as if it’s slowed down.”

Inaccurate Witness Accounts Show the Power of False Memory By JIM DWYER

On a recent morning, Anthony O’Grady, 26, stood in front of a Dunkin’ Donuts in Manhattan. He heard a ruckus, some shouts, then saw a police officer chase a man into the street and shoot him down. Moments later, Mr. O’Grady said the wounded man was fleeing when he was shot. Sunny Khalsa, 41, had been riding her bicycle when she saw police officers and the man. She was shaken by the encounter. “I saw a man who was handcuffed being shot,” Ms. Khalsa said. “And I am sorry, maybe I am crazy, but that is what I saw.” That afternoon, the New York Police Department released a surveillance videotape that

showed that both Mr. O’Grady and Ms. Khalsa were wrong. The man who was shot had not been trying to get away from the officers; he was actually chasing an officer from the sidewalk onto the street, swinging a hammer at her head. Behind both was the officer’s partner, who shot the man, David Baril. Ms. Khalsa did not see Mr. Baril being shot while in handcuffs; he is, as the video and still photographs show, freely swinging the hammer, then lying on the ground with his arms at his side. He was handcuffed a few moments later. Studies of memories of traumatic events consistently show how common it is for errors to creep into confidently recalled

accounts. “It’s pretty normal,” said Deryn Strange, an associate psychology professor at John Jay College of Criminal Justice in New York. In one study, Dr. Strange showed people a film of a car accident in which five people, including a baby, were killed. The film was edited to remove segments of the accident. Then she tested the subjects 24 hours later on what they recalled. People were able to accurately describe what they had, in fact, seen, Dr. Strange said, but a significant number — 36 percent — also professed to have strong memories of parts of the crash that had actually not been shown to them. A leading researcher in the

Our minds may fill in the gaps of what we see. field of witness memory, Elizabeth Loftus of the University of California, Irvine, said there was ample evidence that people found ways to plug holes in their recollections. “Often they fill it with their own expectations, and certainly what they may hear from others,” she said. These are not the statements of people who are lying. False memories can be as persuasive

as genuine ones, Dr. Loftus said. “I feel totally embarrassed,” Ms. Khalsa said after having seen the video. She now believes that she saw the initial encounter and then looked away. In that moment, the man began the attack, which lasted about three seconds until he was shot. She said, “In my mind I assumed he was just standing there passively, and now is on the ground in handcuffs.” “With all of the accounts in the news of police officers in shootings, I assumed that police were taking advantage of someone who was easily discriminated against,” she added. “Based on what I saw, I assumed the worst. Even though I had looked away.”

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Trying to Take the Hard Out of Robot Hardware By QUENTIN HARDY

ADAM DEAN FOR THE NEW YORK TIMES

Experts say lab-made heroin is unlikely to end the need for Myanmar poppies anytime soon.

Synthetic Morphine Nearly Ready By DONALD G. McNEIL Jr.

Opium poppies fill millions of hectares in Afghanistan, Myanmar, Laos and elsewhere. Their payload — milky opium juice — yields morphine, a painkiller easily refined into heroin. But soon, the poppy will no longer be the only way to produce heroin’s raw ingredient. It will be possible to brew it in yeast genetically modified to turn sugar into morphine. Almost all the essential steps have been worked out; a final missing one was published recently in the journal Nature Chemical Biology. “All the elements are in place, but the whole pathway needs to be integrated before a one-pot glucose-to-morphine stream is ready to roll,” said Kenneth A. Oye, a professor of engineering at the Massachusetts Institute of Technology. This rapid progress in synthetic biology has set off a debate about how — and whether — to regulate it. Dr. Oye and other experts said in a commentary in the journal Nature that drug-regulatory authorities were ill prepared to control a process that would benefit the heroin trade more than the prescription painkiller industry. The world should take steps to head that off, they argue, by locking up the bioengineered yeast strains and restricting access to the DNA that would let drug cartels reproduce them. Other biotech experts counter that raising the specter of fermenting heroin like beer is alarmist and that Dr. Oye’s proposed solutions are overkill. Although making small amounts of morphine will be feasible, they say, the yeasts are so fragile and the fermentation process so delicate that it is not close to producing salable quantities of heroin. Restricting DNA stifles research, they argue, and is destined to fail. No scientific team has yet admitted having one strain capable of the entire sugar-to-morphine pathway, but several are trying, and the Stanford University lab of Christina D. Smolke is a leader.

STUART DARSCH/THE NEW YORK TIMES

M.I.T. Professor Kenneth A. Oye advocated stringent controls be placed on synthetic morphine. She said she expected one to be published by next year. No one in the field thought there should be no regulation, she said, but suggestions that home brewers would soon make heroin were “inflammatory” because fermenting manipulated yeasts “is a really special skill.” Implications of research like hers should be calmly discussed by experts, she said. Robert H. Carlson, the author

Heroin made in a lab has implications for the drug trade. of “Biology Is Technology,” said restrictions were doomed to fail. “DNA synthesis is already a democratic, low-cost technology,” he said. “If you restrict access, you create a black market.” What is considered one of the last important missing steps, a way to efficiently grow a morphine precursor, (S)-reticuline, in brewer’s yeast, Saccharomyces cerevisiae, was published

in Nature Chemical Biology by scientists from the University of California, Berkeley, and Canada’s Concordia University. The leader of the Berkeley team, John E. Dueber, said it was not trying to make morphine but 2,500 other alkaloids for which reticuline is a precursor, some of which might become antibiotics or cancer drugs. One crucial question is whether the technology is of more use to the pharmaceutical industry or drug cartels. Dr. Oye argues it is the latter. Companies are always seeking painkillers that create less addictive euphorias or do not paralyze breathing muscles, and having a predictable process they could tweak would be useful, but they already have a cheap, steady supply of opium from India, Turkey and Australia, where poppies are grown legally by licensed farmers. That chain will be hard to disrupt. Since the 1960s, when it was created to convince Turkey to crack down on heroin, the International Narcotics Control Board has set quotas. Thousands of small farmers, their bankers and equipment suppliers depend on the sales, and they have local political clout. Pharmaceutical companies already synthesize opiates in their labs. Fentanyl, a painkiller 100 times as powerful as morphine, is synthetic, as is loperamide (Imodium), an antidiarrheal opiate. Heroin sellers, by contrast, must smuggle raw materials out of Afghanistan, Laos, Myanmar and Mexico. Their supply lines are disrupted when any local power — from the Taliban to the United States Army — cracks down. Brewing near their customers would save them many costs: farmers, guards, guns, planes, bribes and so on. F.B.I. Supervisory Special Agent Edward You said he was glad a threat had been identified by scientists before it was a reality. He said “If this occurred across the board, it would make the F.B.I.’s life a heck of a lot easier.”

SAN FRANCISCO — In a converted pipe organ factory here, Saul Griffith works on products that are smarter, cheaper and, above all, squiggly. At Mr. Griffith’s research company Otherlab, small teams gather around laser cutters and machining tools. Some work on solar panels that follow the sun, guided by what look like ribbed soda bottles and powered by pneumatic pressure. Others fiddle with inflatable exoskeletons intended to help soldiers run far with heavy loads or to help paraplegics walk. These are the kinds of futuristic products that are now being made real by a handful of low-budget inventors with an unusual vision: They want to replace traditional brawn and metal with unconventional materials to create cheaper and more effective soft machines. “Every problem in mechanical engineering has been addressed with more weight, more power and more stiffness,” said Mr. Griffith, co-founder and chief executive of Otherlab. “But nature — the real world — is squiggly.” Mr. Griffith is at the forefront of a movement known as soft robotics, which aims to revolutionize the way we think about building things. Researchers at Harvard University have released a tool kit to make prosthetic hands using soft materials. Biologically inspired designs are shared freely on the Internet. And soft robotics has its own peer-reviewed journal. Many of Mr. Griffith’s projects are a few years away from being offered to the public. The work contrasts with more mainstream robotics. Amazon’s factory pickers, or the welding robots at Tesla, use traditional mechanical engineering approaches. Many have heavy arms and need objects placed in the same position every time, so they can move fast to the correct location. Traditional bionic exoskeletons proposed for the military and paraplegics are also heavy. More weight in the robot or exoskeleton means it will take more energy for the parts to move. That translates into ei-

ther short battery life or an external power source. Since squiggly things have less precise motions than hard things do, they need lots of sensors and semiconductors to correct their movements. Those once expensive parts have become cheaper thanks to the explosion of cellphones, which use many of the same components. Lifting things without crushing them, a problem with metal robots, is also easier with intelligent soft robots. And, with enough air, they can be firm. “There was an assumption that pneumatic things were sloppy and slow,” said Gill A. Pratt of the Defense Advanced Research Projects Agency, which has given Otherlab more than $3 million in grants. Now, he said, “you can do precision with modern sensors and controls.” To keep costs down, Mr. Griffith tries to do things as cheaply

Unconventional materials that make flexible machines. as possible. The prototype for the solar panel manipulator, for instance, was created with a soda bottle and a hot plate, instead of a proposed $150,000 machine. Similar soft work is underway at iRobot, which makes the Roomba vacuum cleaner and hard military robots. “Arms and hands will be the first area” for development, said Chris Jones of iRobot. “Inflatable structures can be very strong but, if you lower the pressure, also very soft. It can relax the precision you need.” Mr. Griffith said his ideas about fusing textiles, plastics and computers to create a cheap and effective mechanical revolution are more important than starting new companies. “If you’re going to make robots like you see in the movies, you have to change the game,” he said. “We’re trying to look at what manufacturing will be in 50 years.”

NICHOLAS ANTONIO De LUCCI FOR THE NEW YORK TIMES

A soft robot called Bob’em Pop’em at Otherlab, a research lab. ‘‘Nature — the real world — is squiggly,’’ said Saul Griffith of Otherlab.

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, JUNE 1, 2015

Sanctity of Truth

STYLES

Argentina Excels In Hybrid Sport By JONATHAN GILBERT

GENER AL RODR ÍGUEZ , Argentina — Nico García squatted down to read the perilous 6-meter par putt. Needing only a bogey to win Argentina’s national championship, he sent the ball snaking downhill across the green, where it stopped just short of the hole. He tapped in for victory — not with a putter, but with the instep of his soccer cleat. Mr. García’s game is not golf but footgolf, a hybrid that borrows rules and courses from its more established relation, only with a larger ball, a 53-centimeter hole and feet instead of clubs. As footgolf emerges as one of the modern alternatives to golf, Argentina has established itself as the dominant force in the game. “There’s no doubt that we’re a level above the other countries,” said Christian Otero, 36, Argentina’s top-ranked player. Footgolf, played with a regulation soccer ball on a shortened golf course, was invented about six years ago in the Netherlands. It came to Argentina in 2010, and has flourished: Organized leagues have been formed and the best players compete abroad. The regular competition has given Argentines a springboard to develop their game swiftly, said Javier de Ancizar, president of Argentina’s footgolf association. But Argentina’s strength on the world stage is also attributed to innate talent. “When you’re born, a soccer ball is the first present you receive,” said Marcos Cortés, 29, who is ranked 21st nationally. “Striking the ball is in our physiology; it’s automatic.” It was an Argentine living in

Palm Springs, California, who introduced the game in the United States and helped found the American FootGolf League. Footgolf is growing across the United States, where golf courses seeking revenue are embracing it. Argentina will host the second World Cup next year, after Hungary — the other seedbed of footgolf talent — held the inaugural competition in 2012. Traditional golf in Argentina remains a hobby of the elite, and a majority of footgolf players here are defectors from soccer. “Soccer is my wife,” Matías Perrone said. “And footgolf is my mistress; she tempts me.” Mr. Perrone, 32, one of the world’s best players, is also a striker for a soccer team in Buenos Aires. In 20 years, he said, the only events that led him to miss matches were violent illness and a qualifier for the footgolf World Cup. Last year, he competed in New Jersey and California in what were billed as the sport’s first pro-am events. Mr. Perrone and Mr. Otero defeated international fields to win both tournaments, and their countrymen packed the leaderboards. But while Argentine players have established themselves as the world’s best, beginners sometimes struggle to adapt to the frustrations and etiquette of the sport. “In soccer, there is a lot of trickery,” said Julio Colacci, 40, who plays on a circuit based in Mar del Plata. “Argentines are hustlers, and we find it hard to respect the rules.” Equipment is mix and match. Players wear polo shirts and use soccer cleats designed for

PHOTOGRAPHS BY JONATHAN GILBERT

Argentines have swiftly adapted to footgolf. Christian Otero, second from left, is a top-ranked player; left, Matías Perrone teeing off.

artificial turf. Off the tee, some use low-profile training cones as tees. Every player, however, opts for the same model of soccer ball — the 2011 Adidas Speedcell, prized because it runs fast on the longer grass of the fairways. Mr. Otero has amassed 15 Speedcells, but since the model is no longer manufactured, players hunt for them like hidden treasure. In his quest to find one last year, Mr. Cortés stopped at every town during the drive to a tournament in Uruguay. He eventually found one at a sports

store in a border city. “It’s a fourhour drive, but it took me eight or nine,” Mr. Cortés said. Now Mr. Otero and Mr. Perrone have pioneered a prototype for a ball that they think is more accurate. The technique for approach shots resembles that used by soccer players doodling after a training session, when they pick a target and chip balls toward it. A version of this was the inspiration for inventing footgolf, said Michael Jansen, 57, the game’s co-founder.

There are historical antecedents to footgolf. Codeball-on-thegreen, founded in the late 1920s by William E. Code in Chicago, was a cheap alternative to golf and tennis. One news story, from 1937, reported that codeball had percolated across the Midwest and gained a following of 50,000 people. Remarking on the apparent simplicity of the sport, another report warned, “Kicking a large, soft ball into one of these 18-inch bowls may sound easy, but it isn’t.” Decades later, even though the cups are bigger, little has changed. “The hardest thing,” said Gustavo Galarza, 28, who finished 20th in the 95-man field here at the Argentine championship, “is getting the ball in the hole.”

When a Choice of Clothes Makes the Woman in Power By VANESSA FRIEDMAN

The big winner of the recent election in Britain was unquestionably David Cameron, whose upset majority took pollsters by surprise. But running a close second was Nicola Sturgeon, the first minister of Scotland and the leader of the Scottish National Party. By taking 56 seats in Scotland, she transformed her party, which led the campaign for Scottish independence in September 2014, into the third-largest bloc in the House of Commons and herself into a force to be reckoned with. “Transformed” being an operative word. Since last November, when Ms. Sturgeon became the party leader, she has not only stepped out of the shadow of her mentor, Alex Salmond, she has also moved on from her former subdued trouser suits, donning a de facto mantle of power: not a red ermine-rimmed cloak but a red pencil-skirt dress. As well as an Angela Merkel-style blond bob. In its echoes of what has become the accepted uniform of

Nicola Sturgeon, the leader of the Scottish National Party, has adopted a bolder style.

RUSSELL CHEYNE/REUTERS

female leaders everywhere, her image evolution signaled her ambitions and revealed the way women are using clothing to manage their transition to power. “It’s a soft power look,” said Holly Mitchell, a founder and designer, along with Lynsey Blackburn, of the Edinburgh boutique Totty Rocks, who met

Ms. Sturgeon when the first minister bought one of their dresses and a matching jacket around the time of her swearing in. Ms. Sturgeon has since been pictured in, among others, their Betty dress (available on their website for 179 pounds, or about $277), their Blitz dress (also 179 pounds) and their Bow dress (159 pounds). All share the same basic characteristics: bright colors, straight knee-length skirts, three-quarter sleeves and a lack of controversy. The apparel blueprint was established by Hillary Rodham Clinton in 2000 when, after a much-chronicled, and much-maligned, period of wardrobe experimentation as the first lady, she settled into a familiar trouser-suit groove as a senator. But it really achieved prominence with Ms. Merkel’s rise in 2005, when the German chancellor adopted what has become her

signature: a pair of straight-cut trousers and contrast three-button jacket with diagonal pockets. And it reached critical mass when Dilma Rousseff, the president of Brazil, took a similar approach during her first presidential campaign, in 2010 (and thereafter), with an unfailing allegiance to three-quarterlength-sleeved jackets over simple dresses and trousers. Ms. Sturgeon’s wardrobe differs slightly from that of the above troika thanks to its slightly more feminine detailing, but the impression is the same. It is the female equivalent of the male suit combined with a strategic use of color. Together this creates a quasi uniform whose familiarity and subconscious accessibility combat the increasing noise around female dress, while nevertheless acknowledging, and exploiting, a certain level of gender differentiation (David Cameron can’t exactly wear a tangerine suit, no matter how much he might like to). And that moves the conversation from one about clothes to

one about policies. “People went from criticizing the first minister’s clothes to appreciating them,” Ms. Mitchell of Totty Rocks said of Ms. Sturgeon’s wardrobe transformation. “And then they started listening to what she was saying.” Bennet Ratcliff, a political consultant and a founder of Thaw Strategies, who has worked on campaigns from Colombia to Arkansas, says: “Voters take comfort from the idea someone is assuming the familiar mantle of leadership. They see it, even if they don’t identify exactly what they are seeing. Fashion changes the way they think about candidates on a very personal, subconscious level.” None of this has escaped Ms. Sturgeon, who has been upfront about the role that fashion plays in politics. In April, in an interview with ITV’s “Tonight” show, she said, “You have to be thinking about what you’re wearing, but you don’t want to be thinking about it at the expense of what you really need to be thinking about.”

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, JUNE 1, 2015

ARTS & DESIGN

Singing in Competitions To Be Heard, in Prison By FREDERICK BERNAS

MEXICO CITY — On a wide stage in front of hundreds of people, two salsa singers danced in synchronized steps, belting out a catchy melody accompanied by trumpets, percussion and propulsive Latin montuno chords from an electronic keyboard. The musicians, like the crowd, wore beige uniforms, and no women were anywhere to be seen. They were all prisoners at the Reclusorio Oriente, a huge penitentiary about 19 kilometers southeast of central Mexico City, competing in La Voz Penitenciaría, a national singing competition that aims to help reintegrate prisoners into society through participation in the arts. In April, a panel of judges toured eight prisons, selecting one solo singer from each and the best three bands over all for a regional runoff at Reclusorio Oriente. The event, organized by Mexico’s federal prison service, is in its third year. About 3,000 inmates at prisons in 26 states competed in auditions last year, and organizers are hoping for a similar figure in 2015. Winners will receive cash prizes of up to $1,100 in soloist and band categories, judged by a group of music professionals who assess DVD recordings of performances. La Voz Penitenciaría is one of a smattering of cultural activities available to some prisoners in Mexico. They include Shakespeare workshops and a virtual battle-of-the-bands contest with online public voting in the federal district of Mexico City. “It’s a way of letting out your stress and frustration,” said Aaron Velasquez Mejía, the winning soloist from Reclusorio Sur, a penitentiary in a southern suburb of the capital. He accom-

An arts program to let inmates connect with life outside.

FREDERICK BERNAS

Prisoners join in the arts by singing. Antonio Silva Rodríguez, right, a.k.a. MC Tonz, in 2012. panied himself on guitar to interpret “Prohibido,” a pop-rock ballad about clandestine dreams of romance. “I’m a drug addict — I like crack, and I like marijuana. All these things damage you, taking you away from what you love most — your family and yourself as a person. But when I play, I feel good.” The competition is a respite from the grim reality of Mexico’s prison system, which houses more than 257,000 inmates, despite a capacity of 203,300. “I saw too much violence,” a former inmate, Antonio Silva Rodríguez,

28, said. He recalls desperate inmates eating cats, pigeons or rats, and seeing friends “killed for a lime or a peso.” Mr. Silva Rodríguez was released in July 2014 after nearly six years in prison, more than a year ahead of schedule because of his involvement in cultural activities. He said he was imprisoned on a pornography charge after staging a photo shoot with a 17-year-old girl whose body he had painted. “If I hadn’t done music or painting, my mind would never have been able to free itself from

Blooper Reels Raise Bar for Ingenuity By ROBERT ITO

When directors first began attaching blooper reels to their films’ end credits in the late 1970s and early ’80s, there wasn’t much to them. Actors flubbed a line, or laughed when they shouldn’t have. In the 1979 comedy-drama “Being There,” one of the pioneers of the tradition, Peter Sellers struggles for three minutes to get through three lines. Back then, watching actors botch their parts was such a novelty that the reels didn’t have to do much to make audiences laugh. Today, tongue twisters have taken a back seat to physical goofs and alternate takes — those extra bits of footage in which actors and directors try to improve what’s on the printed page. In “Hot Pursuit,” some of the blooper reel’s funniest bits are alternate takes of Sofia Vergara making cracks about her co-star Reese Witherspoon’s looks, as well as shots of Ms. Vergara experiencing a panties-baring wardrobe malfunction and getting hit in the face by a deer hoof. In the high school comedy “The

DUFF,” the film’s few true bloopers are mixed in with cast selfies and scenes of Ken Jeong and Chris Wylde ad-libbing insults. Why would a director choose to end a film with mistakes? Certainly no one notices when a blooper reel is omitted, and critics will pounce on a bad one. Appending bloopers to the end of “Hot Pursuit,” the director Anne Fletcher said, was never

After the movie is over, a final taste of fun. intentional. Initially created as a treat for the cast and crew at the wrap party, the reel got so many laughs that Ms. Fletcher figured she’d try it out on test audiences. For her, the blooper reel was more about trying to give audiences one final taste of the fun. “It’s like, look, we have more for you,” she said. Blooper reels are also a handy

forum for all those alternate takes that would otherwise end up on the cutting-room floor. Mr. Jeong “would be riffing in the library, and it was hilarious — the crew was just cracking up,” said Ari Sandel, director of “The DUFF.” “But it was Ken, and you knew it was Ken, it wasn’t his character, Mr. Arthur. So as funny as it was, we just couldn’t use it.” Now actors routinely take measures to protect themselves from the worst of the mistakes. “For mid- to high-level actors, there’s usually a provision that says the artist shall have the right to preapprove in writing any bloopers or outtakes or DVD extras,” said Richard Genow, an entertainment lawyer in Beverly Hills, California. Even so, a wise director would probably try to avoid a dust-up with cast members regardless of what’s in their contracts. “When we first did the blooper reel and Sofia’s dress comes all the way down and her underwear comes out, I put a little blur on the picture before I had gotten her approval,” Ms. Fletcher said. Ms. Fletcher has this advice

prison,” Mr. Silva Rodríguez said. He formed a hip-hop collective at Santa Martha penitentiary in Iztapalapa, Mexico City’s poorest borough. He continues to record under the name MC Tonz and organizes community art workshops around the capital. Auditions for La Voz Penitenciaría were also held at Santa Martha. The sounds echoed around eerily empty surroundings — pathways protected with barbed wire fences and cellblocks overlooked by watchtowers. Anselmo Carrillo Hernández,

29, sang a solemn corrido written on a lonely night of self-reflection. “In this kind of environment, there are no sincere friends,” he said, having served seven years of a 12-year term for theft. “Everybody who partied with you when you were free — they give you no calls, no letters, no visits. They’ve forgotten about you as if you were dead.” Mr. Carrillo Hernández won his audition and will take his message to the regional final. “When you’re stealing, you love the chase, the adrenaline, the shootouts. That moment when you come out victorious is a big celebration,” he continued, “but my song says there is never a perfect crime, no matter how intelligent any criminal can be.” A wing of Santa Martha prison, “El Diamante,” is reserved for inmates serving the longest sentences under maximum security. Its small library was filled with music on the day La Voz Penitenciaría sent its judges. “When I play my guitar, I don’t feel like a prisoner,” said José Antonio Valencia García, 43, who has served 12 years but did not reveal his offense. He took up music after arriving at the prison and enjoys singing to his parents when they visit. “We have made mistakes and committed crimes,” he said, “but we are trying to correct our errors and find a better path through music, culture, exercise and school.”

Sofia Vergara and Reese Witherspoon in “Hot Pursuit.” past four decades, Jackie Chan’s versions — which have included failed stunts and injuries involving cars, rickshaws, hovercraft, pinball machines and leaps from tall buildings — have been more about burnishing his legend as an action star than in exposing his onset mistakes. And the highly polished gaffes created for Pixar hits like “A Bug’s Life” and “Toy Story 2” weren’t mistakes at all, but their originality and wit raised the bar for outtakes that came after, SAM EMERSON/WARNER BROS. PICTURES AND MGM real or manufactured. “I think the bar is just as high for actors: Don’t pretend to mess for blooper reels now as it is for up your lines or burst out laughthe rest of the movie,” said Joning just to make the blooper reel. “Everyone knows when you’re athan Glickman, president of faking it,” she said. “Even if MGM’s film division and a proyou’re a great actor, it still looks ducer of Mr. Chan’s “Rush Hour” like you’re faking it. I’ve seen it trilogy. “But sometimes you’ll happen before. It’s not pretty.” see outtake reels where they’ll Over the years, certain gag throw in every single thing. reels have elevated the craft Sometimes things that aren’t by going their own way. For the even funny. They’re just flubs.”

Business | Money Line

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Oil price rally to boost capital inflows, say experts

TARGET STATE Lagos remains the number one destination state Tony Chukwunyem

he level of capital inflows into the country may have slowed to a two-year low in the first quarter of this year, indicating a decrease of 40.63 per cent to $2.67 billion from $3.9 billion in Q4’14. This, however, could be re-

versed if oil prices maintain the constant rally at $65pb, the Financial Derivatives Company Ltd. (FDC), has predicted. The firm stated this in its “Bimonthly, Economic & Business update” made available to the New Telegraph at the weekend.

The experts noted that the slowdown in capital inflows in the first quarter was caused by heightened political uncertainty and lower oil prices, pointing out, however, that, “the successful completion of the elections has doused the

political risk element.” They stated: “The deceleration in Nigeria’s capital importation in Q1’15 was a reflection of weak investor confidence in the Nigerian economy. A decline in oil revenues, which is the mainstay of the economy, coincided

CBN posts N35.4bn net income in 2014 - Releases IFRS-compliant financials

he Central Bank of Nigeria (CBN) earned a net income of N35.4 billion in the 2014 financial year. This figure is, however, less than the N209.6 billion, which the apex bank earned in 2013. This is contained in the CBN’s audited financial statements for 2013 and 2014 posted on its website last Friday. According to statement issued by the regulator, the two financial statements are International Financial Reporting Standards (IFRS) compliant and have been approved by its Board in accordance with the provisions of the CBN Act 2007.

The IFRS, one of the frameworks internationally recognised and accepted, mandates adopters of the framework to prepare consolidated financial statements. The statement further disclosed that 80 per cent of the earned income have since been remitted to the Federal Government in accordance with the Fiscal Responsibility Act while the balance of 20 per cent was also transferred to the reserves within the Bank. According to the apex bank, “IFRS requirement implies that the financial statement of the CBN be consolidated with those of investee

entities, namely Nigeria Export-Import Bank, Abuja Securities and Commodities Exchange, Bank of Industry, Bank of Agriculture, Nigeria Interbank Settlement System, National Economic Reconstruction Fund, Financial Markets Dealers Quotation, African Finance Corporation and Agricultural Credit Guarantee Fund. Thus, the Bank now has full IFRS-compliant financial statements for the years ended 31st December 2013 and 31st December 2014, respectively.” It explained that before now the regulator’s financial statements had been prepared under the CBN

framework. The CBN, however, pointed out that central banks the world are often faced with a lot of challenges trying to adopt IFRS because of the, “number of challenges that include the nonprofit-oriented mandates of central banks in their roles of price and financial system stability and economic growth that could be contradicted by the application of some of these IFRS standards, which are for direct profit-motivated commercial entities.” It also cited what it described as the, ”statutory constraints on the central banks.”

Economic Indicators N14,737,618.7m N16,509,472.5m 8.7 0.0000 13 10.899 7.96 17.01 US$109.9 US$29,616,826,032

Description

TTM

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

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

Dec, 2013 Dec, 2013 Dec, 2013 2/5/2014 1/20/2014 11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 27/5/2015 Source:CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

S Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

tract the most capital inflows include financing, telecoms, banking, shares and manufacturing, pointing out that four out of the five sectors all recorded a slowdown in Q1'15 with the only exception being the financial sector, which saw a 34.88 per cent increase in capital importation in the period. According to the FDC, Lagos State remains the number one destination state of capital imported into Nigeria with a share of 99 per cent while the United Kingdom remains the main source of capital importation, with a 65.85 per cent share of the total. Meanwhile, the FDC experts have also predicted that there will be more speculative pressure on the naira due to an increase in money market liquidity occasioned by the Monetary Policy Committee’s (MPC) decision to harmoniSe the Cash Reserves Ratios to 31 per cent, from 75 per cent and 20 per cent on the public and private sectors respectively. Noting that although the external reserves level has increased by 0.10per cent ($20 billion) to $29.81billion as at May 16, which covers 4.83 months of imports of goods and services, the experts said the expected increase in liquidity as a result of the CRR harmonisation will put more pressure on the reserves.

Sterling Bank donates to Lagos schools, sponsors NBA confab

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

with heightened political uncertainty about the outcome of the general elections. Consequently, there was an outflow of capital as investors were concerned about the stability of the country. The stock market’s loss of 8.05 per cent and naira depreciation of 7.6 per cent in Q1’15 also shows reduced investor participation in Nigerian markets.” Giving more details on capital inflows into the country in the first quarter, the firm stated: “Nigeria has three main sources of capital inflows: Foreign Direct Investment (FDI), portfolio investment and other investments. Portfolio investments constitute the majority of Nigeria’s capital inflows, accounting for 73.48 per cent of total investments received in Q1’15. This source of investment inflows decreased by 7.11 per cent. Other investments, which account for 15.58 per cent of total capital inflows declined by 75.9 per cent and was the major driver of the reduction in the capital imported in Q1’15. Capital imported through FDIs constituted 14.77 per cent of total capital importation and reported a quarter on quarter decline of 48.68 per cent in Q1’15.” They noted that the sectors that tend to at-

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

terling Bank, last week, donated two sets of books: “Funds and My Little Money Book,” to the Lagos State government for distribution to pupils and students of public schools in the state as part of its promise to make the 2015 Children’s Day most memorable. The bank has also announced its sponsorship of the Nigerian Bar Association’s conference on Business Law (NBA-SBL). The theme of the conference, which will hold between June 7 and 9, 2015, at the Eko Hotel & Suites is “Regulators as Catalysts for Economic Growth.” The first edition of the books were published in 2014 and distributed to public and private schools in Nigeria during the Financial Literacy Week. This year, the bank published a revised version, which was also distributed during the Financial Literacy Week and used by its team of volunteer staff to teach in selected schools in Lagos and Port Harcourt. It would be recalled

that Sterling Bank was given an Award last year by the Lagos State Government for its support in the sector Receiving the books, a senior staff in the Ministry of Education commended the Bank for its continuous support towards the successful hosting of the Children’s Day event organised by the state government and implored other financial institutions in the state to emulate the exemplary role of the bank. Apart from the books donated, the Sterling Bank celebrated the Children’s Day with lucky pupils/students in their various schools in fulfilment of one of the features of its “I Can Save” product and promoted a social media campaign encouraging parents to post “selfies” taken with their children; following which followers/fans were encouraged to vote and the top three posts were awarded prizes. A “selfie” is a photograph taken of oneself with a smartphone or webcam and shared via social media.

Business | News

GAP The country currently has about 17 million housing deficit Sunday Ojeme

orried by the growing housing gap in Nigeria, the International Finance Corporation (IFC) has included Nigeria among two other African countries that would benefit from a $0.3 billion housing fund. The fund was launched last Thursday by the International Finance Corporation (IFC), a private lending arm of the World Bank and the Chinese multinational construction and engineering firm, CITIC, which is eyeing construction of over 30,000 units in the next five years. Kenya and Rwanda are the other two beneficiaries. A World Bank study projects the cost of bridging Nigeria’s 17 million housing deficit to be N59.5

Valuation of Nigeria’s aviation security begins CONTINUED FROM PAGE 22

the documents or records submitted by Nigerian aviation agencies. He said: “Are we ready for the ICAO security audit? Our readiness would be based on national aviation security programme, including crisis management for meeting the challenges of global threats and prevailing national threats. “The audit ought to cover selected operators including FAAN and domestic airlines. It should look at the training and quality control programmes, the security programmes for access control and screening methods for all persons and vehicles, not only for passengers and staff, but methods of issuing access passes for staff and passengers and for carrying out baggage checks on staff working in restricted areas at the airport. “It would also look at marking or remarking security areas and differentiating perimeter fencing from security fencing at airports. Other areas of interest would include airline security programmes, which borders on aircraft security programme.” Besides, he said that πthe auditors would like to know if the airline has reviewed its security programme in collaboration with FAAN in view of recent stowaway incidents.

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Nigeria, others to share IFC’s $0.3bn housing fund trillion, underlining the vast and untapped investment potential of the country’s real estate sector. This is similar to the estimation of the Federal Mortgage Bank of Nigeria (FMBN), which puts it at about N56 trillion to be able to adequately meet the housing needs of Nigerians. Managing Director of FMBN, Mr. Gimba Ya’u Kumo, said that the figure

is based on a conservative cost of construction at N3.5 million per unit. He said: “Fundamentally, the nation needs 16 million housing units to bridge the housing deficits in the country and providing these houses will cost N56 trillion at a conservative cost of N3.5 million per unit. This is a colossal amount, which cannot be funded only through the NHF, but requires urgent

injection of funds from both government and the private sector. That is why we are as well exploring offshore funding to boost financing for mass housing, which the nation urgently needs.” Under the new deal, CITICC (Africa) Holding Ltd will develop houses, targeting the middle class through partnership with local developers. CITIC construction is

wholly-owned subsidiary of CITIC Group, the largest conglomerate of China that was ranked 160 out of 500 Global Fortune firms last year and had total assets of $760 billion by December, last year. IFC director for Eastern and Southern Africa, Mr. Oumar Seydi, said: “As sub-Saharan Africa become more urbanised, the private sector will play a great role in as-

sisting the governments in transforming Africa’s housing markets by providing high quality, affordable houses, creating jobs and demonstrating the viability of the sector to local developers. “IFC will work with financial institutions to support mortgages and housing finance will allow people to purchase the units.” “The two institutions did not, however, say how many of the units will be developed in Kenya. The housing units will be constructed according to the IFC’s green building standards, delivering homes that are friendly to the environment.”

Business |Stock Watch

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Wapic Insurance: Fluxes in profit AWARENESS

Share price movement of Wapic Insurance

Negative perception retards bottom-line

2014 Jun 30

80k

Jul 31

85k

Chris Ugwu

Aug 31

75k

n spite of improvements in the financial services sector, the insurance subsector has continued to contend with a variety of challenges. The most prominent among these trials is the negative perception of the insurance business, which has continued to weigh down on bottom line of most of the companies in the sub-sector. Contrary to the expectation that the Nigerian Insurance industry would be the next growth sector, the performance of the industry, despite considerable improvement, remains far below optimal. Nigerian insurers face the same challenges as their counterparts in developing countries. As a developing country, the challenges for Nigerian insurance companies also include enforceability of regulations. Experts believe 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 claim 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 has been compounded by inability of about 85 per cent of the companies in the industry to pay dividend to shareholders for many years. Market watchers linked the inability of the sub-sector to rise above the nominal level to crisis of confidence. Even the few ones that raised high expectation for good results ended up posting negative financial results. Wapic Insurance Plc, one of Nigeria’s oldest insurance companies, got its fair share from the dwindling fortune of the sub-sector, as the movement of its share price has tilted to negative trajectory. The insurance firm’s price trend reflects the spike in values observed in 2007 through to the early part of 2008, as post-consolidation and speculative trade pushed prices upwards. However, the extensive economic crisis has seen the company, along with other insurance participants, badly beaten. Wapic ended year 2014 on an impressive note as it was able to translate the top-line performance to bottom-line growth leading to a growth of 109 per cent to N58.6 million from a nega-

Sept 30

74k

Oct 31

67k

Nov 30

66k

Dec 31

64k

2015

Aig-Imoukhuede

tive of N629.1 million recorded in the corresponding period of 2013. However, expectations that the company will sustain the profitability seems bleak following poor outing that led to a report of 29.76 per cent decline in profit during first quarter ended March 31, 2015. The share price, which closed at 80 kobo per share on June 30, 2014, has dropped considerably. At the close of business last Friday, the company’s share price stood at 54 kobo - a decrease of 26 kobo or 32.5 per cent year-to-date. Financials In full year 2013, Wapic Insurance had reported a N208 million loss in profit after tax. This was contained in the company’s fourth quarter 2013 financial statement submitted to the Nigerian Stock Exchange (NSE). The company recorded a loss in profit after tax of N208 million in 2013 as against a profit of N383 million in the comparable period of 2012. Wapic equally posted 213.9 per cent loss in profit before tax, from a gain of N552.3 million in 2012, to a loss of N629.1 million during the year under review. The results also indicate a 10 per cent drop in Wapic’s gross written premium (revenue) from N4.17 billion in 2012 to N3.76 billion in 2013. However, the tide of profit line changed as its half-year results for the period ended June 30, 2014, was on a positive note. The company’s gross premium written for the second quarter appreciated by 29.3 per cent to N3. 704 billion, from N2.866 billion recorded in same quarter of 2013. Profit after taxation also appreciated from N174.8 million in second quarter of 2013 to N216.19 million in same quarter of 2014, accounting for an increase of 26.3 per cent.

The insurance industry in the country is growing at the rate of 20 per cent

The group announced a premium of N5.20 billion for the financial year ended December 31, 2014, an increase of 38 per cent when compared with N3.76 billion recorded in the same period of 2013. Profit before tax was up 109 per cent to N58.6 million from a negative of N629.1 million recorded in the corresponding period of 2013. According to the result presented to the Exchange, profit after tax rose from a loss position in 2013 to N237 million. Further analysis showed that solvency ratio stood at 171 per cent, which was significantly above the regulatory requirement threshold of 100 per cent. However, the current financial year looked gloomy for the company as the first quarter results showed a 29.76 per cent decline in net earnings. The company’s profit after tax for the first quarter as released by the NSE stood at N110.043 million as against N156.670 million recorded in 2014. Gross income written was up 13.46 per cent to N2.716 billion from N2.625 billion recorded in 2014. Looking ahead Speaking on the results during the Annual General Meeting (AGM) in Lagos, the group Chairman, Aigboje Aig-Imoukhuede, explained that the group is now well positioned to deliver greater shareholders’ value in coming years. The immediate past Group Managing Director of Access Bank stressed that the company, in the year under review, attracted more customers and recorded progress in the implementation of corporate strategy. He said: “With the company’s professional workforce and their commitment to the corporate vision, we are able to record some progress in our strategy imple-

Jan 31

51k

Feb 28

58k

Mar 31

50k

Apr 30

52k

May 8

54k

mentation achievements. “While many initiatives were launched in 2014, we need to ensure their successful implementation and execution. I am confident that as we build the necessary competency and capacity within our workforce, we remain very committed to Wapic’s vision and objectives.” He noted that the insurance industry in the country is growing at the rate of 20 per cent and Wapic Insurance is growing under 40 per cent. He said that Wapic is doing better than the industry. “I am confident that by next year, we will pay dividend, as the company has committed to serve more customers and make more investments,” he added. Managing Director of the company, Mr. Ashish Desai, pointed out that despite economic and industry challenges, the company is exceptionally positioned to strategically transform itself in its quest to achieve market leadership over the medium term horizon. Conclusion Notwithstanding the fluctuation in profit, investment analysts have forecast that the insurance sector will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated in recent times. Insurance companies are the worst hit in the capital market in terms of drop in share prices. According to analysts at Meristem Securities Limited, the insurance sector has lost 7.9 per cent yearto-date compared with the 38 per cent gain in the same period in 2013. However, despite having faced several challenges recently, the insurance sector is believed by market watchers to experience positive times. This stemmed from the various reforms and initiatives introduced by the National Insurance Commission (NAICOM) and expected inflow of foreign investments - especially now that the jittery over the outcome of the general elections are over and a new government has been sworn in.

Insurance

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

PenOp: Making pension contribution easier for employers REMITTANCE New electronic transfer will provide a uniform method of coordinating pension remittance Sunday Ojeme

ast week, Pension Fund Administrators (PFAs) under the aegis of Pension Fund Operators Association of Nigeria (PenOp) activated the Electronic Pension Contribution Collection System (e-PCCOS). The system is to enable employers remit their employees' contributions online. The platform is expected to improve compliance and enhance confidence in pension collection and remittance. Unveiling the system, the Chairman, Subcommittee on e-PCCOS and Managing Director/Chief Executive Officer, UBA Pension Fund Custodian, Bayo Yusuf, said the system would improve compliance, because employers before now had been dealing with 21 pension fund administrators and four pension fund custodians. With the ePCCOS, employers can now do everything from the comfort of their offices without going anywhere. Benefits "It is a value addition for us. We have created value for the employer to make compliant easier. So, employers can now do remittance, upload schedule and make payment with ease, and the ultimate beneficiary is the employee. "The account of the employee is to be credited within 24 hours according to the Pension Act. With this platform, when the employer remits the contributions, the employee gets the alert and within 24 hours the account is credited and alert sent to the employee. For me that is a plus and it will enhance confidence in the system," Yusuf said. On his part, the Managing Director, Nigeria Interbank Settlement System (NIBSS), the financial body in partnership with PenOp, Mr. Ade Shonubi, described e-PCCOS as a contribution collection system, which tracks employees’ monthly pension remittance schedules produced by employers for PFAs and records matching payments to the custodian accounts of the employees’ PFAs. He also described the system as an electronic information repository that provides a uniform method of coordinating pension remittance process and information for the employers, PFA and Custodian. He said that the system was developed to make it easier for people to get their contributory pension funds paid easily. Shonubi noted, “What happens these days is that employers come up with a schedule and then pay whoever the PFA is. But sometimes the information does not get sent on time and your contributions are not recorded against you well. What we have done

Shonubi

in collaboration with PenOp is to come up with a system, which automates the process so that both the schedules and the payments can be tied together so that it would not be that when payment has been made questions will still be asked about who the payment was made for? “How can we reconcile the payments? How do we make sure that when the pension is paid it goes into the person’s account? So, it makes it easy for the employers; it is actually targeted at the employers to be able to make payments easier,” he added. Also, in his remarks, Head Branding Committee, PenOp, Usman Suleiman, who represented PenOp’s Chairman, disclosed that the association had been working on the initiative for a while because it realised that for the contributory pension process to be seamless, it needed to use technology to make it very convenient for employers to be able to remit proper schedules so that the accounts of their beneficiaries can be immediately credited. Previous challenges He said, “We have been having problems about getting schedules since the Contributory Pension Scheme was introduced. But overtime when we realised that with the application of technology we can overcome this problem, we now partnered with NIBSS to develop a web-based portal that will enable employers to easily make payments and transmit the schedules so that automatically they will be captured by the custodian and the PFAs concerned. "We believe that with this system if we are able to get all the major employers on it, we will no longer have the problem of pensions being remitted without being credited to the relevant accountants.” He stated that owing to the progress

Chairman, PenOp, Mohammed Yola

that the contributory pension scheme had made since it was introduced 10 years ago, the level of compliance by firms has been rising. PenOp's Executive Secretary, Susan Oranye, noted that the system has come to stem the major challenge affecting the contributory pension scheme, which is compliance. She said the platform would enable employers process employees’ salaries, taxes and pension seamlessly. "For quite a while, PenOp has been working very closely with NIBSS to structure a platform that would make compliance for employers that have embraced the CPS easier. One of the key challenges facing the CPS is compliance, we have cases where employers feel it is unnecessary expense to

The platform would enable employers process employees’ salaries, taxes and pension seamlessly

register their employees on the CPS even though the law requires them to, if they have three or more employees, there are some who remit their contributions in a half hazard way. "They will remit the funds, but would fail to remit the required schedules or they would do it in such a way that the information will be wrong, the fund would not be credited to the employees' RSA and there would be a slow build-up of unreconciled funds laying with PFCs. Meanwhile, the employees would not know that the amounts have not entered their accounts. "There is also the issue of filing forms manually and taking them to the PFAs. All these things serve to deter employers and make them unhappy with the process, and this has been one of the key challenges of the CPS," she said. Oranye said the operators having examined the challenges encountered by the employers in remitting their employees' contributions, decided to tackle it with the electronic platform. "Now PenOp has taken into cognisance the challenges and issues that employers are facing and we said if there are other platforms where funds can be remitted with their payment schedules to difference banks on behalf of different beneficiaries, and it has worked in the country, why can't we do something like that regarding pension remittance. Why can't we make things easier for employers? "With this platform, employers can now pay their salaries, taxes and pension at the same time seamlessly," she said. Oranye maintained that the platform was user friendly, self-service electronic system for pension collection and makes the uploading and transferring of schedules and contributions so much easier for the employer.

Business | Insurance

NEW TELEGRAPH MONDAY, JUNE 1, 2015

INSUFFICIENT Continent currently contributes a meagre 1.5 per cent to global premium Sunday Ojeme

he expected economic boom in Africa in the near future is certain to impact positively on the continent’s underwriters’ premium rating, which currently contributes a meager 1.5 per cent

African insurance future promising, says AIO boss to the global collection. According to the President, African Insurance Organisation (AIO), Jean Baptiste Ntakumazina, opportunities abound in Africa as the continent has one third of global mineral reserves, represents one tenth of the global oil reserves, two thirds of the world’s dia-

monds produced by the continent. Besides, he said while 27 per cent of the world’s arable lands are in Africa while 60 per cent of the world’s uncultivated arable lands in Africa, amongst others. He said, “Our contribution today to the world insurance gross premium is only 1.5 percent when

the projections say that by 2025, 24 per cent of humanity will be Africans. “Today, Africa attracts unusual interest from abroad and the future is promising. Indeed, some factors explain the expected change for our continent in upcoming years namely resources boom and economic growth, industrialisation

GNI records 99.5% loss in profit G reat Nigeria Insurance Plc has posted a loss in profit after tax from N903 million recorded in 2012 to

Axa divesting from dirty coal

N4.4 million in 2013. The company, in its audited financial account for the year ended December 2013 sent to the Nigerian Stock Exchange, said its post-tax profit depreciated 99.5

per cent from N903 million recorded in 2012 to N4.4 million in same quarter of 2013. Also, pretax profit declined 63.4 per cent to N466.7 million from N1.275 billion recorded

the same period of 2012. The gross premium written, however, rose slightly by 5.7 per cent to N3.046 billion from N2.881 billion recorded in the 2012 audited year ended 31st December.

and infrastructure development, rapid urbanisation and rising employment levels, demographic and social change, technology and environmental change, regulatory change and hopefully political stability. “We, as insurers, must take advantage of the opportunities and benefit from the perspective growth in various sectors. Because the predicted positive changes of African economies will impact on healthcare services, housing and urban infrastructure, protection of assets and increased savings among others. These are exactly the opportunities we have to tap in by proposing new products, increasing insurance penetration,

improving distribution techniques, cost-cutting etc. And because our profession is risk taking, we can boost, push and support other businesses by mitigating their risks and hence ameliorate the lives of our populations. “Africa can show a better face to the world. Today, Africa is synonymous of turbulence and setbacks, civil wars, political violence, terrorist attacks, natural disasters, HIV/ AIDS disease, Ebola outbreak and other natural catastrophes. “Insurers as important actors of Africa’s economy, we all know that mass events are serious threat on economic activity, we know how wars and violent conflicts create inflation, increase debts, reduce investment, cause unemployment along with thousands of innocent victims. This serves to say this year’s theme of the conference is accurate and timely put on the agenda.

he French insurer, Axa, one of the largest insurance companies on the planet, announced that it will sell $559 million of its coal investments. Axa is divesting “from the companies most exposed to coal-related activities for the assets managed internally,” Henri de Castries, chairman and CEO of Axa, said in a blog post. "There is one big reason why Axa is divesting from coal, and that reason is climate change. De Castries pointed out that the last 30 years “have been the warmest period of the last 1,400 years in the Northern Hemisphere and each of the last three decades has been successively warmer at the Earth’s surface than any preceding decade since 1850.” In other words, the planet is heating up, and weather-related events are increasing. Axa has paid out over $1 billion in weather-related insurance claims. As a result, climate risk is a “core business issue” for the insurance company. Why is Axa divesting from coal, as opposed to other fossil fuels? Coal is really dirty. It has the highest carbon content among fossil fuels. In the U.S. alone, carbon emissions from coal totaled 24.5 percent of greenhouse gas emissions in 2012, according to the Center for Climate and Energy Solutions. Coal is also one of the most widely distributed energy resources.

L-R: Economic Counselor, Mr. Francis Widmer; Head of Mission, French Consulate, Lagos, Amb. Marcel Escure; Head of Public Affairs and Communications, Uzo Odenigbo and National Commercial Director of Nigerian Bottling Company (NBC) Limited, Seguin Mattheiu, during a tour of the Ikeja Plant of NBC by the French Consulate in Lagos

DIVIDEND Shareholders to receive dividend soon

he management of WAICA Reinsurance Corporation Plc says it has commenced issuance of share certificates to the shareholders of the company. The managing director of the reinsurance firm, Mr. Abiola Ekundayo, said the company would be coming to Nigeria within the next two weeks to present the certificates to the affected insurance companies in the country. He said the move was informed by the need to authenticate shareholding structure of the organisation and in-

WAICA Re to issue share certificates to Nigerian insurers tegrate members who, over the years, have contributed to the growth of the company in Nigeria. Ekundayo stated that the company has already issued the share certificates to members in Ghana. As promised at inception that old members of the pool become automatic shareholders of WAICA Re as they were given opportunity to own shares in the three years old regional institution, he said the presentation of certificates to the insurance outfits in line with this promise.

He further informed that the organisation would be paying dividends to its shareholders soon since the management of the reinsurance firm promised to pay dividends within three years after it commenced operations. Established by West African Insurance Companies Association (WAICA), WAICA Re is a public limited liability company incorporated under the laws of Sierra Leone (Companies Act 2009) on 7th March 2011. The main objective of the company is to provide reinsur-

ance services to the insurance sector in West Africa and other regions. In broad terms, the objectives of the company include: to effectively and efficiently manage the business of reinsurance, primarily though not exclusively, across the sub region; as well as to achieve excellence in our management systems and standards by employing best practices through an efficient and responsive management and an empowered and highly motivated work force and to create enhanced value for our shareholders and other stakeholders.

Business | Financial Market News

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

28-May-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

Price

Rating/Agency

Issuer

Description ^13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 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 Yield (%)

Offer Yield (%)

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

581.39 476.80 20.00 100.00 300.00 351.30 233.90 193.73 600.00 573.14 75.00 150.00 200.00 591.57 299.50

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

1.22 1.92 2.17 2.26 3.01 4.09 4.41 4.71 6.67 8.80 13.50 13.98 14.48 15.15 19.14

13.76 13.86 13.88 13.88 13.93 13.97 13.97 13.96 13.86 13.81 16.97 17.47 18.05 15.54 14.03

13.62 13.77 13.79 13.80 13.79 13.88 13.86 13.87 13.80 13.75 16.91 17.40 17.95 15.47 13.98

99.17 101.99 92.65 91.42 92.29 106.12 77.61 105.28 110.70 101.90 89.69 74.23 51.42 68.00 87.57

99.32 102.14 92.80 91.57 92.59 106.42 77.91 105.58 111.00 102.20 89.99 74.53 51.72 68.30 87.87

TOTAL OUTSTANDING VALUE

4,746.32

TOTAL MARKET CAPITALISATION

4,414.64

Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

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

2.40 112.22 116.70 66.49

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

0.97 1.53 1.89 2.11

2.27 2.19 2.67 2.85

16.31 15.99 16.52 16.72

100.87 100.00 101.67 97.92

Agency Bonds FMBN ***LCRM

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

TOTAL OUTSTANDING VALUE

297.82

TOTAL MARKET CAPITALISATION

298.40

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.26

4.44

16.01

99.02

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.34

3.23

15.50

99.13

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.61

4.46

18.16

97.69

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.62

3.48

17.18

99.03

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.89

1.00

14.85

92.21

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.16

1.00

14.98

98.74

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.59

1.79

15.69

96.47

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.97

1.80

15.66

97.30

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.99

1.00

14.87

98.53

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

1.97

1.00

14.86

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

1.97

4.78

18.64

92.98

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.16

1.00

14.88

101.01

02-Oct-12 22-Nov-12 12-Dec-12

15.50 14.50 14.75

15.09 80.00 25.70

02-Oct-19 22-Nov-19 12-Dec-19

2.59 4.49 2.56

1.00 1.00 1.00

14.90 14.97 14.90

101.12 98.50 99.69 99.56

‡ /Agusto; A-/GCR

*ONDO

99.41

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

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.78

10-Oct-20

3.10

1.00

14.93

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.50

1.00

14.91

94.84

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.59

1.00

14.90

100.32

‡ /Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.55

31-Dec-20

3.25

1.44

15.38

97.88

06-Jan-14

15.00

4.56

06-Jan-21

3.28

1.00

14.94

100.09

99.37

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 439.73

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.22

1.00

12.76

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.28

1.00

12.77

99.78

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.37

2.63

15.09

99.64

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.34

1.00

14.88

97.74

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.41

1.34

15.18

98.82

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.34

1.00

14.89

96.33

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.36

1.88

15.75

103.41

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.62

1.00

14.81

101.57

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.78

1.00

14.84

104.56

1.78

1.00

14.84

101.64

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

A+/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.32

3.00

16.94

92.69

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.89

2.29

16.14

99.33

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

17-Feb-19

1.97

6.11

19.97

97.03

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.59

2.16

16.06

99.81

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.47

2.76

16.67

95.01

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.48

1.80

15.65

94.42

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.59

1.82

15.66

103.12

A/GCR

STANBIC IBTC

182D T.bills+1.20 STANBIC IA 30-SEP-2024

30-Sep-14

11.93

0.10

30-Sep-24

9.34

1.00

15.03

84.62

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.34

1.00

15.03

91.14

TOTAL OUTSTANDING VALUE

187.53

TOTAL MARKET CAPITALISATION

182.00

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.71

1.00

14.91

89.77

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

14.95

84.94

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.77

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.79

5.59

104.54

105.55

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.66

4.32

101.32

102.31

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.97

5.81

102.55

103.59

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,542.07

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

6.31

3.86

101.09

103.41

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.35

99.80

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

10.69

9.34

90.59

93.78

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.29

6.78

96.15

97.65

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.41

96.13

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

10.18

9.75

95.41

96.76

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

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

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

8.25 9.25 8.00

300.00 400.00 450.00

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

8.76 10.40 9.07

8.76 9.89 9.07

97.21 95.00 94.23

97.21 97.25 94.23

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.20

9.54

92.67

95.56

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,509.86

**Treasury Bills^ DTM 7 14 28 35 42 49 56 63

FIXINGS Maturity 4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15

Bid Discount (%) 10.85 11.59 12.76 13.33 12.00 13.35 11.72 12.34

Offer Discount (%) 10.60 11.34 12.51 13.08 11.75 13.10 11.47 12.09

Bid Yield (%) 10.87 11.64 12.89 13.50 12.17 13.59 11.93 12.61

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 12.2500 15.4022 16.5661 17.5873

Tenor

Rate (%)

OBB

8.83

O/N Tenor Call 1M

9.33

REPO

Rate (%) 8.75 9.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

197.83 201.81 202.13 202.87 204.24 205.60

197.93 201.93 202.28 203.37 205.31 207.21

Rating/Agency

Issuer

Description

NEW TELEGRAPH MONDAY, JUNE 1, 2015 TOTAL OUTSTANDING VALUE

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

(N'bn) 581.39 476.80 20.00 100.00 300.00 351.30 233.90 193.73 600.00 573.14 75.00 150.00 200.00 591.57 299.50

Rating/Agency

Issuer

Nigerian equities market have underperformed most global indexes

Agency Bonds

FMBN

***LCRM

TOTAL OUTSTANDING VALUE

13.76 13.86 13.88 13.88 13.93 13.97 13.97 13.96 13.86 13.81 16.97 17.47 18.05 15.54 14.03

(%) 13.62 13.77 13.79 13.80 13.79 13.88 13.86 13.87 13.80 13.75 16.91 17.40 17.95 15.47 13.98

Bid Price

Offer Price

99.17 101.99 92.65 91.42 92.29 106.12 77.61 105.28 110.70 101.90 89.69 74.23 51.42 68.00 87.57

99.32 102.14 92.80 91.57 92.59 106.42 77.91 105.58 111.00 102.20 89.99 74.53 51.72 68.30 87.87

Business | Financial Market News

Stories by Chris Ugwu A/Agusto

KADUNA

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

‡ /Agusto

*IMO

‘Demand for treasury bills, bonds to dampen investors’ interest’ 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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

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

2.40 112.22 116.70 66.49

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

0.97 1.53 1.89 2.11

2.27 2.19 2.67 2.85

16.31 15.99 16.52 16.72

100.87 100.00 101.67 97.92

298.40

Sub-National Bonds

are exA+/Agusto; ‡ /GCRost stocks LAGOS ‡ /Agusto *BAYELSA pected to bottom ‡ /Agusto EDO dis‡ /Agusto; A+/GCRout following *DELTA Bb-/Agusto; A-/GCR NIGER appointing earn‡ /Agusto; A-/GCR† *EKITI Bb-/Agusto *NIGER ings while sustained demand ‡ /Agusto; A-/GCR *ONDO for treasury bills and bonds BBB+/Agusto; A-/GCR *GOMBE Aa-/Agusto; ‡ /GCR LAGOS will likely continue to dampen BBB-/Agusto; BBB+/GCR *OSUN investors’ interests in equities, BBB-/Agusto *OSUN Aa-/Agusto; ‡ /GCR Managing Director, LAGOS Financial A-/Agusto; BBB+/DataPro KOGI Derivatives Company ‡ /Agusto *EKITI (FDC) A-/GCR *NASARAWA Limited, Mr. Bismark Rewane, TOTAL OUTSTANDING VALUE has said. TOTAL MARKET CAPITALISATION Rewane, who stated this at Corporate Bonds the FDC Bi-monthly *UPDC Economic BBB+/Agusto BBB-/Agusto and Business Update,*FLOURMILLS said that BB/GCR *CHELLARAMS the Nigerian equities market A+/Agusto; A-/GCR NAHCO had A-/Agustounderperformed FSDH most A/GCR UBA global indexes tracked across BBB-/GCR *C & I LEASING

frontier, emerging and devel12.50 KADUNA 31-AUG-2015 oped markets. 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 He said: “The NSE ASI is in 15.50 IMO 30-JUN-2016 contrast major global in10.00with LAGOS 19-APR-2017 BAYELSA 30-JUN-2017 dexes 13.75 having declined by 0.63 14.00 EDO 31-DEC-2017 per cent year-to-date. The MSCI 14.00 DELTA 30-SEP-2018 NIGER II 4-OCT-2018 World14.00 and Emerging Markets 14.50 EKITI 09-DEC-2018 14.00have NIGER IIIhad 12-DEC-2018 indexes positive reONDO 14-FEB-2019 turns 15.50 YTD, gaining 5.7 per cent 15.50 GOMBE 02-OCT-2019 14.50 per LAGOScent 22-NOV-2019 and 9.11 respectively, 14.75 OSUN 12-DEC-2019 while 14.75 theOSUN Frontiers index has II 10-OCT-2020 13.50 LAGOS 27-NOV-2020 lost 2.42 per cent YTD.” 15.00 KOGI 31-DEC-2020 He 14.50 noted in Africa, the EKITIthat II 31-DEC-2020 15.00 NASARAWA Johannesburg All06-JAN-2021 Share index (JALSH) and the Ghana Stock Exchange Composite Index (GGSECI) have advanced by 8.55 10.00 UPDC 17-AUG-2015 12.00and FLOURMILLS 9-DEC-2015 per cent 2.06 per cent YTD 14.00 CHELLARAMS 06-JAN-2016 respectively . 13.00 NAHCO 29-SEP-2016 On the other hand, the Nairo14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 bi Securities Exchange 20 Share 18.00 C&I LEASING 30-NOV-2017

Index (KNSMIDX) and the Egyp31-Aug-10 12.50 tian EGX30 Price Return Index 30-Sep-10 13.00 30-Jun-11 14.00 (CASE) have trended downwards 30-Jun-09 15.50 in tandem with the NSE10.00 ASI. 19-Apr-10 30-Jun-10 13.75 Rewane had, early in the year, 30-Dec-10 14.00 30-Sep-11 14.00 noted that investors remained 04-Oct-11 14.00 cautious09-Dec-11 as the oil prices con14.50 12-Dec-13 14.00 tinue to dwindle. 15.50 “The 14-Feb-12 challenging economic 02-Oct-12 15.50 14.50 outlook 22-Nov-12 continues to fuel nega12-Dec-12 14.75 tive sentiments on the14.75 capital 10-Oct-13 27-Nov-13 13.50in oil market given the huge drop 31-Dec-13 15.00 prices. Oil prices recorded 31-Dec-13 14.50 over 06-Jan-14 50 per cent drop and for a15.00 country like Nigeria, which earns up to 80 per cent of its revenue from the commodity , this trend has 17-Aug-10 10.00 09-Dec-10 12.00 translated to a weaker currency , 06-Jan-11 14.00 increased inflationary pressures 29-Sep-11 13.00 and debt25-Oct-13 burden,” Rewane 14.25 said. 30-Sep-10 13.00 He noted that most investors 30-Nov-12 18.00

Nil

*DANA#{r}

MPR+7.00 DANA 9-APR-2018

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

A+/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

BBB+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

14-Aug-14

8.75

09-Apr-11

16.00

NSE admits 3bn shares of Prestige Assurance

14.00

he Nigerian Stock declined 16.00 from N344.786 ny, Dr. C.S. Sankey , had dur- 16.00 DANA II 1-APR-2019mil01-Apr-14 Nil *DANAEx15.25 to NAHCO II 14-NOV-2020 A+/Agusto; A-/GCR 14-Nov-13 Gener- 15.25 NAHCO change (NSE) has list- lion in 2013 N330.630 mil- ing the firm’s Annual 14.25 FCMB I 20-NOV-2021 20-Nov-14 14.25 BBB/GCR FCMB shares lion during the under al Meeting (AGM) in Lagos, 16.45 16.45 UBAperiod I 30-DEC-2021 A/GCR ed 3.009 billionUBA 30-Dec-14 182D T.bills+1.20 STANBIC 30-SEP-2024 A/GCR 30-Sep-14 aircraft 11.93 STANBIC IBTC review. This of Prestige Assurance Plc accounted forIA a said that the Dana 13.25 STANBIC IB 30-SEP-2024 A/GCR 30-Sep-14 13.25 STANBIC IBTC loss of four per cent. on its daily official list. that crashed in 2012 in Lagos, TOTAL OUTSTANDING VALUE The company’s gross pre- and killed all passengers on In MARKET a notice to dealing TOTAL CAPITALISATION members obtained from the mium income equally shed board and others on ground, Supranational Bond NSE’s of eight per10.20 cent from N2.933 was the most tragic event the 10.20 IFC 11-FEB-2018 AAA/S&P report, the listing IFC 11-Feb-13 AFDB Aaa/Moody's; AAA/S&P additional ordinary AfDB shares billion in11.25 2013 to1-FEB-2021 N2.684 bil- firm had ever10-Jul-14 witnessed in 11.25 TOTAL OUTSTANDINGunits VALUE was of 3,009,978,524 lion in 2014. its 61 years of existence in TOTAL MARKET CAPITALISATION as a result of the concluded Prestige Assurance unau- the country. RightsRating/Agency Issue by the insur- Issuerdited financial statements The chairman also saidCoupon (%) Description Issue Date ance firm. for the half year ended June that as the lead underwriter FGN Eurobonds With the supplementary 2014 also had its profit slide for the crashed plane, it rec6.75 JAN 28, 2021 BB-/Fitch; B+/S&P 07-Oct-11 listing, the total issued and by 41 per cent from N336.255 ognised the need to ensure 6.75 BB-/Fitch; FGNmillion in June 5.13 JUL 12, 12-Jul-13 obliga- 5.13 fully 2013 to2018 that the insurance BB-/S&Ppaid up shares of the BB-/Fitch; company has now increased N198.407 million within of the 6.38 6.38 JULthe 12, 2023 tions to the families 12-Jul-13 BB-/S&P to 5,518,293,960 units. same period in 2014. deceased persons were met. TOTAL OUTSTANDING VALUE Prestige Plc In the same vein, Gross The company, however, reTOTAL MARKETAssurance CAPITALISATION posted four per cent drop in Premium Income (GPI) ported recently that no fewer Corporate Eurobonds profit after tax for the nine- came down by 28.3 7.50 perMAY cent than 106 relatives of the pas- 7.50 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 19-May-11 month ended September 30, their lives 7.25 to stand at N1.690 billion at2017 sengers, who lost 7.25 JUL 25, B+/S&P ACCESS BANK PLC 25-Jul-12 MAY 09, B/Fitch; B/S&P FIDELITY BANK PLC 2014. Dana aircraft 6.88 the end of the half6.88 year in2018 in the ill-fated09-May-13 6.00 NOV 08, 2018 B+/Fitch; B+/S&P PLC 08-Nov-13 June 3, 2012, 6.00 A cursory look GTBANK at the June 2014, as against N2.360 that crashed on 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC 22-Apr-14 6.25 financials in a filing with billion for the same period have received insurance 8.75 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC 21-May-14 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 07-Aug-13 the Exchange showed that in 2013. claims totaling $5.05 milion 8.25 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II 24-Jun-14 9.25 the company’s net earnings Chairman of the compa(N821 million). 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P FIRST BANK LTD 23-Jul-14 8.00 #{r}

B-/S&P

Bid Yield (%)

1.22 1.92 2.17 2.26 3.01 4.09 4.41 4.71 6.67 8.80 13.50 13.98 14.48 15.15 19.14

297.82

TOTAL MARKET CAPITALISATION

TTM (Yrs)

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

4,414.64

STUMBLE

BBB-/DataPro†; BB/GCR

Maturity Date

4,746.32

TOTAL MARKET CAPITALISATION

Issue Date

^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

8.75 AUG 14, 2021

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE

The DQL contains **Treasury Bills^

15th4.44of January, its lowest 16.01 99.02 level 2012,” 3.23since December 15.50 99.13 4.46 18.16 97.69 FDC boss said. 3.48 17.18 99.03 He that 1.00 explained 14.85 92.21 the 1.00 14.98 98.74 downward trend has been at1.79 15.69 96.47 1.80 15.66 combination 97.30 tributed to the 14.87 of a1.00 sustained drop in 98.53 global 1.00 14.86 99.41 4.78 18.64 92.98and oil prices, profit taking, 1.00 14.88 101.01 uncertainty ahead of the elec1.00 14.90 101.12 1.00 14.97 98.50and tion, the weakening naira 1.00 14.90 99.69 increased violence in the99.56 north1.00 14.93 94.84 east,1.00 driven by14.91 Boko Haram.

5.00

31-Dec-20

4.55

31-Dec-20

3.25

1.44

15.38

97.88

4.56

06-Jan-21

3.28

5.59

1.00

14.94

100.09

14.90

100.32

Lender emerges first in corporate citizens awards 452.88 439.73 2.50

17-Aug-15

0.22

18.75

09-Dec-15

0.28

0.42

06-Jan-16

0.37

250.00

14-Aug-21

10.20

1.00

tanbic IBTC Bank has 15.00 29-Sep-16 1.34 prize in the 5.53won the first 25-Oct-16 1.41 20.00 30-Sep-17 2.34 maiden 30-Nov-17 edition of the 0.64 1.36 Corporate Citizen in 5.40 09-Apr-18Awards1.62 2.54 09-Sep-18 1.78 recognition of its strict adher0.70 09-Sep-18 1.78 ence governance 35.00to corporate 22-Sep-18 3.32 2.10 18-Oct-18 1.89 ethics. 0.36 17-Feb-19 1.97 Organised by the Corporate 4.50 01-Apr-19 2.59 2.05 14-Nov-20 the award, 5.47 Affairs Commission, 26.00 20-Nov-21 6.48 according to a 30-Dec-21 statement, is 6.59 de30.50 0.10 30-Sep-24 9.34 signed to recognise and reward 15.44 30-Sep-24 9.34 corporate entities that have con187.53 sistently adhered to applicable 182.00 by-laws under the auspices of CAC in 12.00and conducted 11-Feb-18business2.71 12.95 01-Feb-21 standards 4.75 Nigeria to the highest of 24.95 responsible corporate practice. 21.77 To win the ‘Best Complying Outstanding Value of the Year’ award, Company Maturity Date Bid Yield (%) ($mm) which was presented at a formal ceremony at Abuja, re500.00 5.79 cently , Stanbic28-Jan-21 IBTC Bank was 500.00 4.66 selected ahead 12-Jul-18 of other competitors from the financial services 500.00 12-Jul-23 5.97 industry 1,500.00 . Reacting to the develop1,542.07 ment, Chief Executive Officer of 500.00 Stanbic IBTC Holdings, 19-May-16 6.31 Mrs. Sola David-Borha, stated 350.00 25-Jul-17 7.35 300.00 02-May-18a powerful 10.69 that it represented 400.00 08-Nov-18 7.29 endorsement of the strength 500.00 22-Apr-19 7.41 of 200.00 Nigeria’s financial services 21-May-19 10.18 300.00 07-Aug-20 8.76 sector, the quality of its regula400.00 24-Jun-21 10.40 tory framework, as well as the 450.00 23-Jul-21 9.07

12.76

99.37

1.00

12.77

99.78

2.63

15.09

99.64

9.54

92.67

95.56

group’s comprehensive and 1.00 14.88 97.74 globally benchmarked frame1.34 15.18 98.82 1.00 14.89 96.33 work on best practice. 1.88 15.75 103.41 She said that the group 1.00 14.81 101.57 is 1.00 14.84 104.56 guided by the vision of making 1.00 14.84 101.64 a real difference in providing 3.00 16.94 92.69 2.29 16.14 in Nigeria. 99.33 financial services 6.11 19.97 97.03 Stanbic IBTC Asset Manage2.16 16.06 99.81 2.76Limited, 16.67 95.01 of ment a subsidiary 1.80 15.65 94.42 Stanbic IBTC Holdings Plc, had 1.82 15.66 103.12 1.00 15.03 84.62 recently listed N11.4 million 1.00 15.03 91.14 Stanbic IBTC Exchange Traded Fund (ETF) 30 on the Nigerian Stock Exchange (NSE). The , on September 1.00 company 14.91 89.77 1.00 84.94 of15, opened an 14.95 initial public fering (IPO) for the Stanbic IBTC ETF 30. Stanbic Asset ManageOffer Yield (%) IBTC Bid Price Offer Price ment opened the offering with Prices & Yields 10,000,000 units of the fund 5.59 104.54 available at N100 each 105.55 at par 101.32 subscription 102.31 with4.32a minimum of 10,000 units102.55 and multiples 5.81 103.59 of 5,000 units thereafter. The chief executive officer, Stanbic IBTC Asset Management, mangers101.09 of the fund, Olu3.86 103.41 mide Oyetan, explained that 7.35 99.80 99.80 the 90.59 per cent 93.78 IPO9.34 recorded 114 over 6.78 96.15 97.65 subscription, adding that the 7.41 96.13 96.13 company had95.41 already spoken 9.75 96.76 8.76 97.21 to clients that 97.21 are interested to 9.89 95.00 97.25 buy9.07 more after94.23 the listing. 94.23

3,650.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

had opted for 31-Aug-15 fixed income0.26 as8.50 sets, over equities, 2.16cash or forex 30-Sep-15 0.34 4.86 30-Jun-16 0.61 highlighting the extent of risk 5.73 30-Jun-16 0.62 averseness of investors as a re57.00 19-Apr-17 1.89 25.73 30-Jun-17 1.16 sult of this trend. 25.00 31-Dec-17 2.59 30.81 30-Sep-18 “The market continues1.97to 9.00 04-Oct-18 1.99 maintain a downward trend 13.73 09-Dec-18 1.97 1.97 in10.20 the first 12-Dec-18 weeks of 2015. 27.00 14-Feb-19 2.16 The Nigerian Stock Exchange 15.09 02-Oct-19 2.59 80.00 22-Nov-19 4.49 All Share Index so far has 25.70 12-Dec-19 2.56 plunged by 16.87 per cent3.10to 10.78 10-Oct-20 87.50 27-Nov-20 5.50 28,811.39 between the 5th and

28-May-15

3,509.86

data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial (the “Information”). The Information does not constitute FIXINGS Moneymarket Market Foreign Exchange (Spot & Forwards) professional,DTM financial or investment advice. We attempt to ensure the Information is accurate; theBidInformation is provided “AS IS” and on an “AS AVAILABLE”Tenor basis and mayRate not(%) be accurate or up to date. We do not guarantee Maturity Bid Discount (%) Offer Discounthowever, (%) Yield (%) NIBOR 7 4-Jun-15 10.85 10.60 10.87 the accuracy,14timeliness, 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 Bid ($/N) Offer ($/N) OBB 8.83 of the Information. Tenor 11-Jun-15 11.59 11.34 11.64 Tenor Rate (%) 28 35 42 49 56 63 70 Rating/Agency 77 91 98 105 119 126 140 154 168 189 203 224 NA 231 238 245 252 259 266 273 280

25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 6-Aug-15 Issuer 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 29-Oct-15 12-Nov-15 3-Dec-15 17-Dec-15 7-Jan-16 NA 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16

294

17-Mar-16

301

24-Mar-16

FGN Bonds

TOTAL OUTSTANDING VALUE 315

12.76 13.33 12.00 13.35 11.72 12.34 11.98 Description 11.70 11.01 ^13.05 16-AUG-2016 9.37 13.14 ^15.10 27-APR-2017 12.46 9.85 27-JUL-2017 13.18 9.35 31-AUG-2017 13.40 13.44 10.70 30-MAY-2018 13.22 ^16.00 29-JUN-2019 12.81 7.00 23-OCT-2019 13.08 13.13 15.54 13-FEB-2020 13.57 ^16.39 27-JAN-2022 13.38 ^14.20 14-MAR-2024 13.78 13.39 15.00 28-NOV-2028 13.31 12.49 22-MAY-2029 13.22 8.50 20-NOV-2029 13.45 13.47 ^10.00 23-JUL-2030

13.21 ^12.1493 18-JUL-2034 13.37

12.51 13.08 11.75 13.10 11.47 12.09 11.73Date Issue 11.45 10.76 16-Aug-13 9.12 12.89 27-Apr-12 12.21 27-Jul-07 12.93 31-Aug-07 13.15 13.19 30-May-08 12.97 29-Jun-12 12.56 23-Oct-09 12.83 12.88 13-Feb-15 13.32 27-Jan-12 13.13 14-Mar-14 13.53 13.14 28-Nov-08 13.06 22-May-09 12.97 20-Nov-09 13.20 13.22 23-Jul-10 12.96 18-Jul-14 13.12

Bonds

12.89 13.50 12.17 13.59 11.93 12.61 12.26 (%) Coupon 12.00 11.32 13.05 9.61 13.66 15.10 12.98 9.85 13.80 9.35 14.12 14.24 10.70 14.07 16.00 13.72 7.00 14.10 14.29 15.54 14.84 16.39 14.66 14.20 15.18 14.75 15.00 14.69 12.49 14.63 8.50 14.95 15.02 10.00 14.78 12.1493 15.03

7-Apr-16

13.30

13.05

15.02

21-Apr-16

13.09

12.84

14.83

5-May-16 12.83 *for the Amortising bonds, the average life is calculated and not the duration

12.58

14.59

329

TOTAL MARKET CAPITALISATION 343

O/N 1M 3M 6M

12.2500 15.4022 16.5661 17.5873

O/N Tenor Call 1M 3M (Yrs) TTM 6M

Outstanding Value Maturity Date (N'bn) NITTY Tenor 581.39 1M 2M 476.80 3M 20.00 6M 100.00 9M 12M 300.00

9.33

REPO

Rate (%) 16-Aug-16 12.9659 13.1250 27-Apr-17 13.4647 27-Jul-17 13.9052 31-Aug-17 14.6707 14.7661 30-May-18

351.30 29-Jun-19 233.90 23-Oct-19 NIFEX 193.73 13-Feb-20 Current Price ($/N) 600.00 27-Jan-22 BID($/N) 199.0000 573.14 14-Mar-24 OFFER ($/N) 199.1000 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 299.50 18-Jul-34

Rate (%) 8.75 9.00 Bid9.25 Yield 9.50

(%)

1.22 13.76 13.62 1.92 13.86 13.77 :Benchmarks 2.17 13.88 13.79 * :Amortising Bond 2.26Bond 13.88 13.80 µ :Convertible AMCON: Asset Management Corporation of Nigeria 3.01 13.93 13.79 FGN: Federal Government of Nigeria 4.09 13.97 13.88 FMBN: Federal Mortgage Bank of Nigeria 4.41 Finance Corporation 13.97 13.86 IFC: International LCRM: Local Contractors Receivables Management 4.71 13.96 13.87 NAHCO: Nigerian Aviation Handling Company 6.67 13.86 13.80 O/N: Overnight 8.80 13.81Company 13.75 UPDC: UAC Property Development WAPCO:West 13.50Africa Portland Cement 16.97 Company16.91 13.98 17.47 17.40 14.48 18.05 17.95 15.15 15.54 15.47 19.14 14.03 13.98

NOTE:

Rating/Agency

Issuer

Description

Issue Date

Modified Duration ***LCRM Buckets

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

<3 3<5 >5 Market

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

99.17 101.99

99.32 102.14

106.12

106.42

110.70

111.00

74.23 51.42 68.00 87.57

74.53 51.72 68.30 87.87

Valuation Yield (%)

Modelled Price

NA :Not 92.65 Applicable 92.80 ^ : Market Prices 91.42 91.57 # : Floating Rate Bond ***: Deferred 92.29coupon bonds 92.59

‡ : Bond rating under review 77.91 †: Bond 77.61 rating expired N/A :Not105.28 Available 105.58 {r} :Issuer in receivership

101.90 102.20 NGC: Nigeria-German Company UBA: United 89.69Bank for Africa 89.99

4,414.64

Agency Bonds FMBN

197.83 197.93 201.81 201.93 202.13 202.28 Price 203.37 202.87 204.24 205.31 205.60 207.21 206.28 213.47Price Bid Price Offer 220.29 226.27

4,746.32

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

Spot 7D 14D 1M 2M 3M Yield Offer 6M (%) 1Y

Coupon (%)

Outstanding Value (N'bn)

FMDQ FGN BOND INDEX

03-Apr-12 09-Dec-11

Weighting by 20-Apr-12 Outstanding Vol

06-Jul-12

41.39

17.25 0.00/16.00

Weighting by Mkt 0.00/16.50 Value

0.00/16.50

1,435.64

1,409.48

43.75

1,198.87

1,124.68

33.03

36.53

647.01

871.07

25.58

19.72

3,281.53

3,405.23

100.00

2.40 112.22 Bucket 116.70 Weighting 66.49

0.41

Maturity Date

03-Apr-17 08-Dec-16

% Exposure_ 19-Apr-17 Mod_Duration

06-Jul-17

297.820.33

18.98

298.400.26 1.00

Avg. Life/TTM (Yrs)

0.97 1.53 Implied Yield 1.89 2.11

# Risk Premium (%)

2.27 2.19

Implied 2.67 Portfolio Price

2.85

16.31 15.99 INDEX 16.52 16.72

1,179.73

100.87 100.00

YTD Return 101.67 (%)

97.92

13.88

105.2957

38.78

13.84

110.4242

1,101.82

6.4881

42.24

14.94

78.1435

1,098.31

9.0661

100.00

14.31

100.0439

1,130.49

7.1366

8.8144

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.26

4.44

16.01

99.02

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.34

3.23

15.50

99.13

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.61

4.46

18.16

97.69

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.62

3.48

17.18

99.03

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.89

1.00

14.85

92.21

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.16

1.00

14.98

98.74

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.59

1.79

15.69

96.47

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.97

1.80

15.66

97.30

42 Business | Interview

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

‘Why Nigeria’s gas, power supply continues to crash’

Ige

Group Executive Director, Gas and Power, Nigerian National Petroleum Corporation (NNPC), Dr. David Ige, led the Federal Government’s delegation to the 2015 Offshore Technology Conference (OTC) in Houston, Texas, United States (US), where he had a no-holds-barred interview with journalists. ENERGY EDITOR, Adeola Yusuf, was there. Excerpts: What is your assessment of Nigeria’s participation at the 2015 Offshore Technology Conference (OTC)? We have gone round the various stands and it has been quite impressive. But despite what appears to be a very low morale in the industry, we have a strong presence of Nigerians here, exhibiting their products and services. And I think that the continued growth of the service sector shows the growth and vibrancy of the oil and gas sector. I think that overall, there is a lot to be proud of as Nigerians. What is the Federal Government doing to attract more foreign direct investments (FDI) into Nigeria? Nigeria is blessed with a lot of resources in terms of oil and gas and that remains a natural location to attract people into the industry and with capital there. Over the years, we have consis-

tently seen foreign investment. There has been an aggregate increase in foreign direct investment in Nigeria and also in the industry. And, clearly, there is a lot of competition globally for capital as a result of new discoveries in other locations, but we have found out that still, Nigeria has the potentials to be one of the most competitive locations globally. Though, there is still a lot of work for us to do to maintain that competitive edge, but with the different stakeholder engagement we are having, PETAN, Nigerian Content and policy intervention, we will continue to reposition ourselves such that Nigeria continues to be an attractive location for investors to come in. The infrastructure and baseline is there. And have been on for a few years. So, it is easy for people to come in here. All we

need to do is to ensure that as competition come on, we still maintain our position so that we can compete favourably.

We are having quite a lot of issues that are interlinked in the power sector

What is the level of works on the East West pipeline? Construction has started on the East West pipeline and, as you know, we are beginning to make progress on the infrastructure on both sides. Our expectation is that by December 2016, we will have had mechanical completion of the pipeline and, early 2017, we will start to flow gas on it. Power epilepsy has been blamed on insufficient gas supply to thermal stations. Has this stratum witnessed any improvement? At the moment, gas supply to power stations has grown to over one billion cubic feet per day and I think that before the end of this year, we will see a significant in-

crease as well. Cumulatively, we are producing about two billion cubic feet of gas now. Some of the gas we are producing and that are available are stranded because some of the power plants, I think, are not ready. So, over the next couple of months, we should see an increase. For example, we have got gas at Gbarain pipeline, which should be ready for commissioning. Egbema and other plants also have gas. So, when you put all these together, we have about two billion cubic feet of gas. But not all of it is in active generation today, either because the power plant is not ready or because power evacuation is not ready. On the western side of Nigeria, where the power plants are ready, we have a shortage of gas, which amounts to about 400 cubic feet of gas. We expect that before the end of this year, we will have reduced this significantly

Business | Interview

NEW TELEGRAPH MONDAY, JUNE 1, 2015

as some of our projects come on stream. By and large, over the next 12 to 18 months, we are expecting almost complete levelling up of supply to power plants. What is happening in LagosEscravos pipeline? Lagos pipeline is almost completed. We expect that within the next three months, that project is done. We have completed and commissioned Lagos all the way up to Uben; we have completed Emuren (Ogun) all the way to Itokin in Lagos. So, the bit that remains now is from the Benin end to Emuren, but this is progressing very well and the expectation is that by August this year the pipeline would have been completed and would have doubled the capacity to two billion cubic feet per day. This should be the biggest pipeline in Africa. Why do you think that gas pricing has remained an issue for producers and consumers despite the increase in price? I am not exactly sure why gas price is an issue for producers and consumers because gas price has been increased to export parity in Nigeria, so the issue today is not pricing really. What has remained a challenge in Nigeria is the mounting debts because gas price is not being paid by consumers at the rate at which it is supposed to be paid. In the last couple of months, the CBN put a programme in place to extinguish some of the legacy debts, but we are going to make sure that the new volume that are being supplied are actually being paid by end consumers through the power operators back to the gas suppliers. I think that the issue is not the price; it is more around the collection and payment of that price. Otherwise, I see no reason why anybody should complain; our price right now is pretty much at par with reasonable standard. So, our gas price domestically is basically competitive. And of course, we have room now for willing buyers and willing sellers’ arrangement and you can see that people now negotiate their prices and they can get what the buyers can pay. Overall, there might be a miscommunication about pricing; pricing is at the optimum or close to the optimum now. More importantly, there is willing buyers willing sellers’ arrangement anyway, so the market is free, but it is just for the market itself to stabilise to a level where people pay for what they take. Those who have entered into an agreement before this arrangement will also be accommodated. This is because once the minister announces the new price for gas, it definitely reflects on all gas supply agreement. So, any gas agreement right now is supposed to reflect the gas pricing for the volume that are within the base load. With this, anybody who is doing a new transaction must do on willing buyer-willing seller agreement, so nobody is cut off in this arrangement.

We have lost 300mw from Shiroro as a result of the hydro going down Ige

There is a fall in power generation to below 3,000mw. Considering the volume of gas, which you said is available now, what should have been responsible for this drop? We are having quite a lot of issues that are interlinked in the power sector. For the past two months, one leg of the Escravos-Lagos pipeline between escaravos and Ojidi and Warri has been down after the vandalisation. It has taken us this long to repair the pipeline because, first of all, the elections meant that the JTF could not provide security for our people to go in there and access. So, it was only after the elections that people can now go-in there and access and work is on-going right now to effect that repair. So, with the loss of that pipeline at the moment, we are losing close to 120-150 million cubic feet per day of gas, which has been the case for the last eight weeks or so. In addition to that, the Trans Forcados pipeline, like you know, is attacked about four weeks or three weeks ago, there was an attempt to repair it, but when we try to bring back that online, we noticed further leakage, which I believe has just been fixed or is being fixed right now. With the Transforcados pipeline out, we are losing gas supply from Obein, from Sapele and from NPDC, which is a significant one. So, right now, we are losing gas from Escravos and we are losing gas from the Obein axis; that is a significant amount of

our supply capacity that is down on the western side. On the Eastern side, you know that we have had issues with evacuation, largely evacuation issues. Even though we are able to supply gas to Okpai power plant, the power sector evacuation challenges do not make us to evacuate all of that power. So, Okpai sometimes is not been able to operate at full capacity. We are able to supply to Ibom power, but Ibom power has been operating at about 50 per cent capacity for quite some months now. Although, the gas is there, the power plant is not working at full capacity. We are able to supply gas to Alaoji, but the Alaoji power plant is not able to evacuate power, because when Alaoji is on, you cannot be able to evacuate Alaoji and Calabar. It is a combination of issues, this is the time that the hydro generation is at the lowest; we have lost 300mw from Shiroro as a result of hydro going down. So, bringing all these together is almost like a perfect storm for a much reduced generation. I believe that over the next couple of weeks, as we repair the pipelines and we also receive the rain storm and, of course, some of our projects that have been commissioned, which the outages have earlier affected, will be back on stream. So, you should be able to see some improvements in the next couple of weeks. But all the problems we face right now are actually shortterm problems and not problems that are due to supply.

Education First Class, BSc Mechanical engineering, University of Lagos MBA, University of Aberdeen Business School PhD, Engineering, Cambridge University Career Employment History Group Executive Director, Gas and Power, Nigerian National Petroleum Corporation (NNPC) Acting Managing Director, Gas Aggregation Company of Nigeria (GACN). Adviser to the Honourable Minister for Petroleum Resources Gas  Member, Strategy Practice, Accenture LTD Strategy Manager, Accenture LTD Strategy Consultant, Accenture LTD  Reservoir Engineer, Shell companies  Petroleum Engineer, Shell companies Board memberships and affiliations Board Member, Nigerian National Petroleum Corporation Representative, Nigeria National Petroleum Corporation

Business | Capital Market

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Daily Summary as of 28/05/2015

Printed 28/05/2015 14:30:22.022

Daily Summary as of 28/05/2015 Printed 28/05/2015 14:30:22.022

The Nigerian Stock Market Exchange as at May 28, 2015 Daily Summary (Bonds)

No Debt Trading Activity

Daily Summary (Equities)

Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Activity Summary on Board EQTY Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 3 11 62 76

Current Price 0.50 29.50 35.20

Quantity Traded 302,000 36,500 2,097,059 2,435,559

Value Traded 151,000.00 1,073,912.55 71,705,613.20 72,930,525.75

Symbol LIVESTOCK

No. of Deals 16 16

Current Price 2.40

Quantity Traded 502,130 502,130

Value Traded 1,203,924.82 1,203,924.82

2,937,689

74,134,450.57

Quantity Traded 34,940 687,746 743 4,544,914 4,469,661 9,738,004

Value Traded 51,361.80 625,056.24 3,135.46 14,118,045.98 184,409,245.50 199,206,844.98

9,738,004

199,206,844.98

AGRICULTURE Totals Daily Summary as of 28/05/2015

Printed 28/05/2015 14:30:22.022 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC Activity U ASummary C N PLC. on Board EQTY Diversified Industries Totals CONGLOMERATES CONGLOMERATES Totals Published by The Nigerian Stock Exchange CONSTRUCTION/REAL ESTATE ©

92 Symbol AGLEVENT JOHNHOLT Daily Summary SCOA TRANSCORP UACN

No. of Deals 6 11 (Equities) 1 103 60 181

Current Price 1.54 0.94 4.44 3.10 41.20

181

Page

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

Symbol COSTAIN

No. of Deals 10 10

Current Price 0.94

Quantity Traded 445,925 445,925

Value Traded 417,841.64 417,841.64

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

Symbol JBERGER

No. of Deals 19 19

Current Price 52.70

Quantity Traded 31,730 31,730

Value Traded 1,754,984.50 1,754,984.50

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

Symbol UAC-PROP

No. of Deals 17 17

Current Price 10.10

Quantity Traded 169,010 169,010

Value Traded 1,763,431.50 1,763,431.50

646,665

3,936,257.64 Value Traded 4,950.00 4,950.00

CONSTRUCTION/REAL ESTATE Totals

Daily Summary as of 28/05/2015

CONSUMER GOODS Printed 28/05/2015 14:30:22.022 Automobiles/Auto Parts DN TYRE & RUBBER PLC

Automobiles/Auto Parts Totals

Beverages--Brewers/Distillers CHAMPION PLC. EQTY Activity SummaryBREW. on Board GUINNESS NIG PLC CONSUMER GOODS BREWERIES PLC. INTERNATIONAL Beverages--Brewers/Distillers NIGERIAN BREW. PLC. PREMIER BREWERIES PLC Published by The Nigerian Stock Exchange Totals © Beverages--Brewers/Distillers Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. Daily Summary of 28/05/2015 UNIONas DICON SALT PLC. Printed 28/05/2015 14:30:22.022 Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals

Activity Summary on Board EQTY Household Durables CONSUMER GOODS VITAFOAM NIG PLC. VONO PRODUCTS Household Durables PLC. Household Durables Totals

Published by The Nigerian Stock Exchange © Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

CONSUMER GOODS Totals Daily Summary as of 28/05/2015 Printed 28/05/2015 FINANCIAL14:30:22.022 SERVICES

Symbol DUNLOP

No. of Deals 8 8

Current Price 0.50

Quantity Traded 9,900 9,900

Symbol CHAMPION GUINNESS INTBREW Symbol NB PREMBREW

No. of Deals 19 68 12 No. of Deals 135 1 235

Current Price 6.75 163.00 20.00 Current150.10 Price 3.26

Quantity Traded 769,892 239,834 107,472 Quantity896,329 Traded 766 Page 2,014,293

Symbol 7UP

No. of Deals 12 12

Current Price 178.00

Quantity Traded 13,934 13,934

Value Traded 2,505,167.62 2,505,167.62

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON NNFM UNIONDICON

No. of Deals 41 40 107 26 44 1 1 260

Current Price 4.12 6.51 36.20 3.72 8.00 18.05 11.84

Quantity Traded 1,253,395 993,206 3,469,404 483,561 670,449 100 50 6,870,165

Value Traded 5,083,499.58 6,458,991.46 123,608,547.11 1,807,775.05 5,248,720.79 1,715.00 562.50 142,209,811.49

Symbol CADBURY

No. of Deals 14 121 135

Current Price 40.00 850.00

Quantity Traded 42,964 6,347,278 6,390,242

Value Traded 1,657,675.30 5,398,219,105.00 5,399,876,780.30

Symbol VITAFOAM VONO Symbol

No. of Deals 70 31 No. of Deals

Current Price 5.39 1.69 Current Price

Quantity Traded 1,594,551 Quantity805,506 Traded 2,400,057

Value Traded 8,492,879.38 1,349,940.06 Value Traded 9,842,819.44

Symbol PZ UNILEVER

No. of Deals 55 24 79

Current Price 29.18 45.00

Daily Summary (Equities)

Daily Summary (Equities) NESTLE

101

830

Page Quantity Traded 857,480 398,318 1,255,798

18,954,389

HEALTHCARE Pharmaceuticals NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals

ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals IT Services COMPUTER WAREHOUSE GROUP PLC TRIPPLE GEE AND COMPANY PLC. IT Services Totals Daily Summary as of 28/05/2015 Daily as 14:30:22.022 of 28/05/2015 PrintedSummary 28/05/2015 Processing Systems Printed 28/05/2015 14:30:22.022 CHAMS PLC Processing Systems Totals 12

Value Traded 5,219,786.75 38,885,201.19 2,152,404.80 Value Traded 135,518,744.37 2,374.60 12 2 of 181,778,511.71

12 3 of Value Traded 25,406,571.96 17,925,837.47 43,332,409.43

5,779,550,449.99

Current Price 1.00 1.06 0.50 0.50 0.50 0.50 3.00 0.50 0.81 0.50 0.50 0.50 0.54

Quantity Traded 2,443,545 Page 3,185,794 25,000 5,000 5,000 203,000 591,669 4,488 2,265,704 30,120 9,000 30,250 96,326,315 105,124,885

Symbol Symbol NPFMCRFBK

No. of Deals No. of Deals 33 33

Current Price Current Price 1.35

Quantity Traded Quantity Traded 2,431,831 2,431,831

Value Traded Value Traded 3,282,615.10 3,282,615.10

Symbol INFINITY UNHOMES

No. of Deals 1 1 2

Current Price 1.42 6.40

Page Quantity Traded 1,000 50 1,050

12 5Value Traded of 1,350.00 304.00 1,654.00

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 37 7 497 48 3 50 94 736

Current Price 3.10 4.00 9.38 3.09 0.50 29.90 1.50

Quantity Traded 646,948 1,314,200 81,334,402 6,161,778 218,960 1,406,405 8,895,535 99,978,228

Value Traded 2,001,886.27 5,259,300.00 758,601,765.00 19,118,575.30 109,480.00 42,292,560.49 13,345,910.54 840,729,477.60

654,952,724

4,205,656,911.99

Quantity Traded 196,083 212,650 38,685 457,850

Value Traded 350,759.41 731,221.50 1,704,569.79 752,925.20

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER

No. of Deals 12 11 23 17

Current Price 1.80 3.58 44.00 1.62

Page

Value Traded 198,096,362.49 140,280,899.22 35,744,616.99 23,983,962.88 628,603,789.09 15,018,609.62 1,066,731.96 Value Traded 1,525,631,520.21 4,684,182.67 61,421,037.03 1,472,061.76 663,230,143.91 3,299,233,917.83

4,218,573.50

Symbol COURTVILLE

No. of Deals 1 1

Current Price 0.50

Quantity Traded 6,000 6,000

Value Traded 3,000.00 3,000.00

Symbol CWG TRIPPLEG

No. of Deals 2 1 3

Current Price 4.00 1.69

Quantity Traded 25,276 167 25,443

Value Traded 96,048.80 268.87 96,317.67

Symbol CHAMS

No. of Deals 5 5

Current Price 0.50

Quantity Traded 1,579,000 1,579,000

Value Traded 792,500.00 792,500.00

1,610,443

891,817.67

Daily Summary (Equities) Daily Summary (Equities)

Quantity Traded 22,428 Quantity889,004 Traded Quantity Traded 50,407 Page 323,551 5,439,571 50,000 1,886,025 8,660,986

979,134,621.73 182,000.00 184,401,548.24 1,178,721,922.55

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

Symbol CUTIX

No. of Deals 2 2

Current Price 1.73

Quantity Traded 60,000 60,000

Value Traded 103,800.00 103,800.00

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

Symbol BETAGLAS

No. of Deals 5 5

Current Price 39.97

Quantity Traded 49,117 49,117

Value Traded 2,060,949.32 2,060,949.32

8,770,103

1,180,886,671.87

INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services Daily Summary as of 28/05/2015 JAPAUL OIL & MARITIME SERVICES PLC Printed 28/05/2015 14:30:22.022 Energy Equipment and Services Totals

251

Value Traded 492,257.50 9,060,839.38 Value Traded Value Traded 2,091,311.26 12 7 3,359,344.44 of

Symbol JAPAULOIL

No. of Deals 1 1

Current Price 0.50

Quantity Traded 100 100

Value Traded 50.00 50.00

Symbol OANDO

No. of Deals 260 260

Current Price 18.90

Quantity Traded 3,804,330 3,804,330

Value Traded 70,825,699.51 70,825,699.51

Daily Summary (Equities)

Page

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

Symbol CONOIL ETERNA FO MOBIL MRS TOTAL

No. of Deals 19 12 57 22 7 38 155

Current Price 41.00 2.75 176.00 146.80 50.54 174.00

Quantity Traded 147,039 491,149 400,882 77,377 3,304 85,519 1,205,270

Value Traded 6,045,452.30 1,332,016.94 70,538,200.05 11,440,032.56 158,658.08 14,281,300.84 103,795,660.77

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

Symbol SEPLAT

No. of Deals 60 60

Current Price 338.00

Quantity Traded 869,395 869,395

Value Traded 293,817,240.24 293,817,240.24

5,879,095

468,438,650.52

OIL AND GAS Totals

Daily Summary as of 28/05/2015 SERVICES Printed 28/05/2015 14:30:22.022 Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals

476 No. of Deals 16 16

Current Price 0.79

Quantity Traded 1,864,110 1,864,110

Value Traded 1,390,621.52 1,390,621.52

Symbol REDSTAREX

No. of Deals 12 12

Current Price 5.35

Quantity Traded 914,000 914,000

Value Traded 4,705,850.00 4,705,850.00

Symbol Symbol CILEASING

No. of Deals Current Price No. of Deals 23 Current Price 0.70 23

Quantity Traded Quantity Traded 2,215,906 2,215,906

Value Traded Value Traded 1,552,888.84 1,552,888.84

Symbol IKEJAHOTEL TOURIST TRANSCOHOT

No. of Deals 4 1 1 6

Current Price 3.90 3.51 9.63

Page Quantity Traded 54,036 200 500 54,736

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

Symbol ACADEMY UPL

No. of Deals 1 9 10

Current Price 1.00 6.05

Quantity Traded 1,000 17,469 18,469

Value Traded 1,050.00 103,016.50 104,066.50

Road Transportation ASSOCIATED BUS COMPANY PLC Daily Summary of 28/05/2015Totals Road as Transportation Printed 28/05/2015 14:30:22.022 Specialty INTERLINKED TECHNOLOGIES PLC Specialty Totals

Symbol ABCTRANS

No. of Deals 6 6

Current Price 0.55

Quantity Traded 620,100 620,100

Value Traded 344,998.00 344,998.00

Symbol INTERLINK

No. of Deals 1 1

Current Price 4.43

Quantity Traded 100 100

Value Traded 443.00 443.00

Symbol AIRSERVICE NAHCO

No. of Deals 4 21 25

Current Price 2.34 6.38

Quantity Traded 151,500 463,832 615,332

Value Traded 355,025.00 2,857,121.98 3,212,146.98

Symbol CAVERTON

No. of Deals Current Price 1 3.60 1

SERVICES Employment Solutions Employment Solutions C & I LEASING PLC. Employment Solutions Totals Published byHotels/Lodging The Nigerian Stock Exchange ©

IKEJA HOTEL PLC TOURIST COMPANY OF NIGERIA PLC. TRANSCORP HOTELS PLC Hotels/Lodging Totals

Value Traded 4 2,443,845.05 of 12 3,257,012.22 12,500.00 2,500.00 2,500.00 101,500.00 1,735,838.90 2,244.00 1,849,501.00 15,060.00 4,500.00 15,125.00 52,967,121.29 62,409,247.46

1,470,416

Current Price 21.50 Current 10.00 Price Current 41.00 Price 10.32 180.00 3.64 98.00

Courier/Freight/Delivery RED STAR EXPRESS PLC Activity Summary on Board EQTY Courier/Freight/Delivery Totals

No. of Deals 21 32 1 1 1 3 15 1 42 3 1 (Equities) 3 28 152

2,610

Value Traded 676,977.60 2,120.00 4,218,573.50

Symbol AIICO CONTINSURE CORNERST EQUITYASUR LASACO LINKASSURE MANSARD MBENEFIT NEM NIGERINS PRESTIGE Daily Summary UNIC WAPIC

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC.

Quantity Traded 564,148 1,000 1,470,416

No. of Deals 15 46 No. of Deals No. of Deals 20 20 89 1 53 244

Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. Published by The Nigerian Stock Exchange © CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. LASACO ASSURANCE PLC. LINKAGE ASSURANCE PLC Daily Summary as of 28/05/2015 MANSARD INSURANCE PLC Printed 28/05/2015 14:30:22.022 MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. UNIC INSURANCE PLC. WAPIC INSURANCE PLC Activity Summary on Board Insurance Carriers, BrokersEQTY and Services Totals

FINANCIAL SERVICES Totals

Current Price 1.20 2.23

Symbol ASHAKACEM BERGER Symbol Symbol CAP CCNN DANGCEM PORTPAINT WAPCO

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

No. of Deals Current Price Quantity Traded 225 6.23 31,754,070 78 4.45 31,535,632 (Equities) 62 21.53 1,658,964 67 1.93 12,726,201 242 28.95 21,635,866 109 2.75 5,495,263 17 2.11 505,747 No. of Deals Quantity Traded 218 Current Price 5.40 287,679,304 56 10.12 462,435 187 2.86 21,762,849 35 0.96 1,513,496 391 21.44 30,686,903 1,687 447,416,730

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

ICT Totals INDUSTRIAL GOODS Activity Summary on Board EQTY Building Materials Activity Summary on Board EQTY ASHAKAGOODS CEM PLC INDUSTRIAL INDUSTRIAL GOODS BERGER PAINTS PLC Building Materials Building Materials CAP PLC Published by The Nigerian Exchange © PLC CEMENT CO.Stock OF NORTH.NIG. DANGOTE CEMENT PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals

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

Published by The Nigerian StockBrokers Exchange © Services Mortgage Carriers, and INFINITY TRUST MORTGAGE BANK PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals

No. of Deals 16 1 80

HEALTHCARE Totals

Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY BANKEQTY PLC. Activity SummaryTRUST on Board SKYE BANK PLC FINANCIAL SERVICES STERLING BANK PLC. Banking UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

FINANCIAL SERVICES Micro-Finance Banks Micro-Finance Banks BANK PLC NPF MICROFINANCE Micro-Finance Banks Totals

Symbol NEIMETH PHARMDEKO

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

Support and Logistics CAVERTON SUPPORT GRP PLC Published by The Nigerian OFFSHORE Stock Exchange © Support and Logistics Totals

Symbol RTBRISCOE

Daily Summary (Equities)

SERVICES Totals

Quantity Traded 150 Page 150

12 10Value Traded of 201,623.06 668.00 4,575.00 206,866.06

Value Traded 541.50 12 11 of 541.50

100

6,302,903

11,518,422.40

EQTY Board Totals

4,675

711,262,431

11,928,439,051.13

Equity Activity Totals

4,675

711,262,431

11,928,439,051.13

Daily Summary (ETP) Exchange Traded Fund

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

Symbol LOTUSHAL15 NEWGOLD VETGRIF30

No. of Deals Current Price 1 10.75 2 2,300.00 1 15.80 4

Quantity Traded 5 68 5 78

Value Traded 53.75 156,130.00 79.00 156,262.75

ETF Board Totals

156,262.75

ETP Activity Totals

156,262.75

Page

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Bauchi State Governor, Isa Yuguda (left), congratulating the state’s new Grand Khadi, Dahiru Ningi, at his swearing-in as Grand Khadi of the Sharia Court of Appeal in Bauchi. PHOTO: NAN

L-R: Member, Lagos State House of Assembly, Ajeromi/Ifelodun Local Government Constituency, Hon. Fatai Olatunji Oluwa; member, Federal House of Representatives, Mrs. Rita Odichinma Orji and others, during a thank you visit to all wards in their constituency in Lagos. PHOTO: TONY EGUAYE

L-R: Assistant Comptroller of Prison, Mr. Ikuejawa Bamijoko; Chief Superintendent of Prison, Diala Udenwa Christina; Anchor, Femi Fafowora Foundation, Mr. Femi Fafowora and Superintendent of Prison Staff Office, Mr. Ihonde Wilberforce, during a presentation of gift items by Fafowora Foundation, Prison Outreach, at Ikoyi Prison. PHOTO: TONY EGUAYE

L-R: President, St. Patrick’s College Alumni Association, Lagos Branch, Chief Sigmond Fernandez; Assistant Secretary, Uyo Branch, Chief Udoetuk Emmanuel and National Chairman, Chief Charles Ifeanyi, during the association’s National Executive Council meeting and Handing-over of Banner of the alumni in Lagos.

Photo | News

L-R: Project Director, Spirit of Lagos, Mr. Olaniyi Omotoso; former governor of Lagos State, Mr. Babatunde Fashola (SAN) and Managing Director, TBWA Concepts, Mr. Kelechi Nwosu, at the 2015 edition of the Spirit of Lagos Citizens Day awards in Lagos.

L-R: Former Chief of Defence Staff, Admiral Ola Ibrahim; Chief of Defence Staff, Air Chief Marshal Alex Badeh; Representative of the Comptroller-General of Immigration, Martine Abeshi; Chief of Naval Staff, Vice Admiral Usman Jibrin and Chief of Army Staff, Lt.-Gen. Keneth Minimah, at the inauguration of the Senior Officers’ Accommodation Complex in Abuja.

Dr. Comfort Chigozie (left) and Deputy Editor-in-Chief, News Agency of Nigeria, Mrs. Nkechi Okoronkwo, at the 4th International Women Conference in Owerri, Imo State.

L-R: Programme Officer, Women Advocates, Research and Documentation Centre (WARDC), Mr. Adigwe Ifeanyi; Executive Director, Dr. Abiola Akiyode-Abiola; Deputy Country Director, International Foundation for Electoral System (IFCS), Mrs. Uloma Osuala and Programme Officer, WARDC, Miss Anuoluwapo Agbaje, at a media dialogue on electoral violence and post 2015 elections held in Lagos. PHOTO: GODWIN IREKHE

News

MONDAY,JUNE 1, 2015 NEW TELEGRAPH

SOUTH-WEST

Ekiti APC lawmakers’ deny salary payment Adesina Wahab Ado-Ekiti

ontroversy yesterday continued to trail the payment of the outstanding salaries of the 19 All Progressives Congress (APC) members of the Ekiti State House of Assembly, as the lawmakers denied receiving anything from their outstanding entitlements. The lawmakers, led

by Dr Adewale Omirin, claimed that they were yet to be paid despite the claim in a newspaper report (not New Telegraph) that they were paid last week. Omirin’s media aide, Wole Olujobi, in a statement in Ado-Ekiti, refuted the report, lamenting where the writer of the report and the newspaper got the report. The lawmakers said they were shocked that the writer did seek their responses

on the issue for purpose of getting the facts of the matter, stating that the report was filed based on rumour and outright falsehood. “It is shocking that the newspaper chose not to believe us but overzealously believe in the purported sources that thrived in falsehood, lies and propaganda while working for the government. “The reporter in one breath said his investiga-

tion revealed that the lawmakers had been paid, yet he reported that both Fayose and the lawmakers did not confirm the report as they refused to talk to him. If this were the case, then who are the sources that confirmed to the reporter that the lawmakers had been paid? “To make matters worse, contrary to the reporter’s claim that we did not talk to him, we told him at our end

that we have not been paid. Apart from getting this fact from us, the speaker’s media aide told him the same and so we are surprised that the reporter is claiming that he received no information from us. “In fact, as at Saturday night, the alerts we received from our bank were deficit alerts and so we wonder where the reporter got his story. However, finding by New

Telegraph showed that following last week’s meeting between the lawmakers and Governor Fayose, the government was ready to pay the lawmakers. However, that was not acceptable to the lawmakers many of whom had drawn loan facilities from their banks and who were afraid that the banks would clear outstanding financial commitments and leave them with little or no cash.

Anxiety as Ondo Assembly is inaugurated Babatope Okeowo Akure

L-R: Ogun State Chief Judge, Justice Olatokunbo Olopade; Osun State Deputy Governor, Mrs. Titi Laoye-Tomori; wife of the Osun State Governor, Alhaja Sherifat Aregbesola; Chief Onanuga; Ogun State Deputy Governor, Mrs. Yetunde Onanuga; former President Olusegun Obasanjo; Governor Ibikunle Amosun; his wife, Olufunso; Mrs. Bola Obasanjo; Chief Olopade; Alake of Egbaland, Oba Aremu Gbadebo and former Head of the Interim National Government (ING), Chief Ernest Shonekan, at the inaugural ball to mark the second term inauguration of Amosun’s administration in Abeokuta…yesterday

Fashola seeks support for Ambode Tony Okuyeme

ormer Lagos State Governor, Mr. Babatunde Raji Fashola, has called on monarch of Ikorodu town, Oba Kabiru Adewale Shotobi, the Adebolishe the 5th, the people of Ikorodu division and other towns and constituencies in the state, to cooperate with the governor of the state, Mr. Akinwunmi Ambode. Fashola made this call while presenting the staff of office to the new Oba of Ikorodu, saying that Ambode was a man who understands Lagos, with a lot of ideas on how to govern it, saying the Nigeria faces challenges which Lagos state was not insulated from. “But we have elected a great man, a very passionate man; a man who

understands Lagos, and who is bustling with ideas, Akinwunmi Ambode, as the 14th Governor of Lagos. Kabiyesi, the good people of Ikorodu, Mr. Akinwunmi Ambode, his deputy, Doherty Oluranti Adegunloye and the team they eventually constitute, they will need all your support. I urge you again to cooperate with them, work with them. He also called on the other aspirants to the throne to respect the “democratic process and let us move on together”. “To our new Oba, it is only God that chooses kings. The decision of the majority I interpret as the decision of God. You are God’s servant here, to look after all of these people, those who supported you, and those who did not support you.”

Osun commends IBEDC over electricity supply Adeolu Adeyemo

Osogbo

sun State Government at the weekend commended the management of the Ibadan Electricity Distribution Company, (IBEDC), Osun region for its quick intervention in electricity equipment fault in the state. The state Deputy Governor, Mrs. Laoye Tomori, who gave the commendation, described IBEDC as an organisation with credible staff. She stated this at the Ataoja of Osogbo, Oba Jimoh Oyetunji Olanipekun’s palace, when the monarch hosted the new Regional Managers of the company in Osun

Region. She argued that electricity supply improved when the organisation was put in place and charged the management to increase the tempo. Meanwhile, in a separate statement by its regional branding and communication officer in Osogbo, kikelomo Owoeye, IBEDC, said that efforts were on to see that power was boosted in some towns within the region. According to her,”some areas in Ede and Osogbo metropolis, will be experiencing power outage due to the construction of 132KV lines by the Transmission Company of Nigeria ,TCN.

Reps-elect urges Buhari to fulfill electoral promises Adesina Wahab Ado-Ekiti

member of the incoming National Assembly, Kehinde Agboola, has advised President Muhammadu Buhari to fulfill his electoral promises to Nigerians who are expectant of his administration’s performance. Agboola, of the Peoples

Democratic Party (PDP), and who is to represent Ikole/Oye Federal Constituency in the House of Representatives, said in an interview in Ikole-Ekiti at the weekend that PDP caucus in the National Assembly would use Buhari’s electoral promises as a marking scheme for his government. Agboola, during a thank you visit to the people for their support, said the era

when politicians would promise one thing and do another when elected into office was gone, adding that he was in support of a reduction in the cost of governance, but advised Nigerians to be enlightened on how the system works. “I am in support of a reduction in the cost of governance. But people should know that the money for the National Assembly is

not only for the members. There is also the budget for publicity, staff and aides. On what the people of his constituency should expect, Agboola promised to surpass the records set when he was the local government chairman. The Reps-elect said it was to appreciate the people and let them know that he had not forgotten his electoral promises.

head of today’s inauguration of the fourth session of the Ondo State House of Assembly, palpable tension has gripped members of the Assembly over those that would emerge as the principal officers of the House. The Assembly, which consists of 26 members, has five members of the All Progressives Congress and 21 Peoples Democratic Party (PDP) members The new members of the assembly are also 20 while only six are returning members. However, the election of principal officers is causing ripples among members of the Assembly as the new members, who are in clear majority, are

planning to elect one of them as either the Speaker or Deputy Speaker of the Assembly. A source told New Telegraph yesterday that the incumbent speaker, Princess Jumoke Akindele, may likely be returned to the position as the zoning arrangement in the state still favours her. She is from Ondo South senatorial district. Also, the source said the incumbent speaker has demonstrated the ability to lead the male dominated Assembly since she was elected after the death of former speaker, Samuel Ajayi Adesina. However, he said the controversy is on who would emerge as the deputy speaker of the Assembly. The position, he said would still be retained in Ondo North senatorial district.

Uniosun principal officers’ sack polarises staff Adeolu Adeyemo Osogbo

he recent sack of the three principal officers of the Osun State University, the Vice-Chancellor, Professor Bashir Okesina, Registrar, Dr. Julius Faniran and its bursar,Alhaji Fatai Lasisi over alleged mis-management of fund by the institution’s Governing Council last week, has polarised staffers of the university. The development, which has led to a frosted relationship among those who condemned the affected officers and those who supported the university’s council decision on the matter, has polarized the staff of the institution. New Telegraph gathered that workers were now at one another’s throat as they poised for war against themselves over the matter. Also, unions and academic associations of the university have pitched their tents against against each other over the issue. The university’s branch of ASUU, NASU and SSA-

NU, in a statement signed by Dr. Abiona Oluseye and Mr. Wende Olaosebikan, described the sack of the officers as uncalled for and called for its reversal pending the outcome of the enquiry being conducted into the matter. The three unions argued that,” the termination of appointments are prejudicial and violate the principle of equity and fairness.” “It is instructive to state that a visitation panel was constituted by the Governor of the State of Osun and the report submitted. We are of the opinion that it would have been better for the council to wait for the white paper on the report to be released by the Governor before assuming the position of a judge in their own case”. “We are a group of intellectuals with strong belief in debate before final decisions will be taken on an issue as sensitive as termination of appointment. In a situation where a group of individuals take advantage of the docility of our branch to ride roughshod on Congress will always be challenged.

NEW TELEGRAPH MONDAY,JUNE 1, 2015

FMC workers demand director’s sack over N242m scam Steve Uzoechi OWERRI

orkers at the Federal Medical Centre, Owerri, Imo State, have called for the sack of the medical director, Dr. Angela Uwakwem, over her an allegation of N242 million scam and her preference for the Public Private Partnership initiative, which they described as a ploy to defraud the hospital. The face-off between workers and the management of the hospital, which has crippled activities at the hospital for the

past two months, took a new twist as the workers are demanding a comprehensive probe into the records and activities of the hospital under Uwekwem. The workers want government to probe the medical director through the board of the hospital to carry out, among others, the revocation of the contract already outsourced through the PPP; withdrawal of queries to leaders of the unions and meeting other demands, stating that the unions, led by the National Union of Allied Health Professionals (NUAHP) had already unearthed some questionable deals that

News 47

SOUTH-EAST

called the integrity and credibility of the FMC management to question. The union had, in May, petitioned the hospital’s board through the Finance and General Purposes Investigation Committee of the board, alleging gross financial misconduct and highhandedness by Uwakwem. The workers were calling for the immediate removal of the director over an allegation of spending the sum of N242 million under the guise of conversion from personnel cost to capital

cost. In the petition signed by the Chairman of the National Union of Allied Health Professionals (NUAHP), Mr. Ezeugwu Clifford and Secretary General, Nwafuru S.K, the unions alleged that the conversion of personnel fund was a flagrant violation of the civil service financial regulations. The once busy hospital is now deserted, as the workers continue to embark on their workto-rule action, until the medical director was removed.

Elechi to Umahi: Don’t be misled by sycophants Uchenna Inya ABAKALIKI

he immediate Governor of Ebonyi State, Martin Elechi has advised his successor, Dave Umahi to be careful to avoid being misled by sycophants. He urged the new governor to analyse every advice given to him by those who claim to be supporting him while such may be a ploy to undo him. Elechi spoke yesterday at his Echi-Alike country home to newsmen during a reception organized in his honour. ‘’My successor, Umahi should give people the freedom to agree or disagree with him; to say

their mind without pretending, otherwise sycophants will deceive him and it is not good. He should be forthright with the people and analyze every advice and make sure that he is not misled by sycophants because there are many sycophants out there’’, he said. He said he refused to avoid the handover ceremony at the Abakaliki Township Stadium at the weekend, despite the warning in some quarters to him not to attend the event to avoid being booed. He said “booing is part of the democratic right of the people. They are free to hold any opinion and express it within the limit of the law.”

I inherited high debt profile, uncompleted projects, says Umahi Uchenna Inya ABAKALIKI

he Governor of Ebonyi State, Chief Dave Umahi, has said that his administration has inherited huge unpaid contracts and backlog of unpaid salaries to civil servants both in state and local government levels, as well as uncompleted projects scattered across the state from the immediate past government of Governor Martin Elechi. In his inaugural address at the Abakaliki Township Stadium, Umahi described the situation as very challenging. He said: “Our skilled and trained manpower base is limited, placing a huge burden of capacity building on us. Uncompleted projects in

the state are vast and spread across the entire landscape, each carrying liabilities in hundreds of millions if not in billions of naira. “The state is swimming in a large sea of debts, especially unpaid and accumulated salaries to our civil servants both at state and local government levels. We are stepping into governance with serious financial challenges and negative balance sheet. “These inherited liabilities, combined with our manifesto pledges are going to challenge us in dimensions that cannot be predicted. “Elimination of waste, barricade against corruption, intelligent rationing of limited resources, and accelerated exploitation of our natural endowment will see us through’’, said.

Leader of the Niger Delta Peoples Volunteer Force, Alhaji Asari Dokubo (left), with the leader of the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB), Chief Ralph Uwazuruike, at the May 30 Biafra Day in Owerri …at the weekend

NGO tasks tribunals on justice, transparency Charles Onyekwere ABAKALIKI

embers of the various election petition tribunals across the country have been cautio n e d t o avo i d any financial inducement from politicians in the discharge of their duties. A None Gove r n m e n t a l Org anization,(NGO) Christian Community Initiative for Peace and Development,(CIPD), made the call at a meeting with the theme” Mitigation of Violence in Election”,

which held in Abakal i k i , E b o ny i S t at e, charged the judiciary to discharge its responsibilities within the framework of the law without compromising the nation’s legal standards. The Executive Director of the CCIPAD, Rev. Odigbo Ikechukwu, who stated that the judiciary has an inalienable role of strengthening the electoral system and peoples’ confidence in the system, noted that any wrong action taken by it could send a wrong signal on the image of the country. “Corruption is one of the biggest prob-

lems in Nig eria; it is essentially trying to pervert justice for the benefit of a few. I encourage the judiciary to be strong and on the basis of evidence, declare those who won election victorious, so that people can have confidence in the electoral system”. The NGO is being supported by the Inter national Foundation for Electoral Systems (IFES), and funded by the European Union (EU) on other projects including advocacy visit to stakeholders through town Hall meetings and mediation forum.

Umahi promises return of schools to missionaries Charles Onyekwere ABAKALIKI

bonyi State Governor, David Umahi, has said that he would support the policy of the past administration to return primary and secondary schools to their original owners, the missionaries. The governor also added that the educational system would be reviewed as new programmes would be introduced to the advantage and future of the children in the state. This was part of the address by Governor Umahi, during a recep-

tion held for him at the Abakaliki Township Stadium after he took oath of office as the third governor of the state. According to him, he promised to bring down fees in higher educational institutions and remove the dichotomy in the fees paid by people of Ebonyi including non-indigenes. “My administration will fulfill its promises and will invite the managers of the higher institutions to discuss the way forward. The infrastructures in our schools do not support qualitative education. I intend to start total evaluation of all infrastructures in

all schools, including audit of our teachers and the subjects they teach, the number of pupils\ students in each school and their preferred disciplines. “We want to prepare the future of our children towards self-reliance in this direction, we must target the countries of the world, we want to adopt their technology and introduce their languages in our school curriculum. We want our secondary schools children and tertiary students to start doing the right subjects that will give them the opportunity to be employers of labour’’, he said.

News

Ijaw youths fault December timeline for amnesty programme Chris Ejim Yenagoa

jaw youths, under the auspices of the Ijaw Youth Council (IYC), at the weekend reviewed the inaugural speech of President Muhammad Buhari over the December deadline for the termination of the Presidential Amnesty programme for ex-militants in the Niger Delta. The group faulted any plan to terminate the programme, questioning the sincerity of the new admin-

MONDAY,JUNE 1, 2015 NEW TELEGRAPH

SOUTH-SOUTH

istration to terminate such programme. According to the IYC, though the Niger Delta people had expected that the Presidential Amnesty programme will have a terminal date, the decision by President Muhammud Buhari to terminate the programme will include a laid out plan to clean up the Niger Delta environment, implement the UNEP report on Ogoni and tackle the menace of oil theft in the region. The Ijaw Youth Council (IYC), in a statement signed by its spokesperson, Comrade Eric Omare, said the

IYC appreciates the fact that the amnesty programme cannot continue forever and therefore must have a terminal date. “However, the questions on the lips of beneficiaries and stakeholders in the Niger Delta region are what would happen to those that have not been trained at as December 2015 and those still undergoing training or have not completed their training? “The termination of the programme would throw up challenges for beneficiaries of the programme, who are still undergoing

training and are at different levels of their training. The IYC expects the Federal Government to address the fear of these classes of ex-agitators, who are in different parts of the world and are worried that their trainings may be affected if the programme is terminated in December, 2015.” “The case of a substantial number of ex-agitators, who have not been trained, is even more worrisome. The IYC calls on the Federal Government to address these challenges before the programme is terminated.”

‘Why Bayelsa’s N10bn road project is delayed’ ChrisEjim Yenagoa

he management of the Bayelsa State-based road construction giant, Kakatar Ce Limited, at the weekend, explained the reasons behind the delay in the take-off of the 9.7kilometre Opume-Okoroba road project awarded at a cost of N10 billion by the Niger Delta Development Commission (NDDC) in 2012. According to the company, which claimed that the speculation that it abandoned the project was untrue, it had since July 2012 mobilised to site with 100 per cent achieved in the clearing and cutting of trees along the road corridors while earthworks, involving dredging and

haulage of sand, had been done to cover 2 kilometres of the road. The company described the speculation that it abandoned the site as a campaign of calumny sponsored by detractors to discredit the organisation. It said the delay in the take-off of the project was due to the deficiencies inherent in the engineering design handed over to the company by the NDDC. Angry indigenes of Okoroba community in Nembe Local Government area of the state, had last year protested against the abandonment of the project, claiming that the abandonment wasonthegrounds of alleged disagreement over compensation and non- availability of sand.

Navy promises improved relations with public Clement James Calabar

L-R: Delta State PDP Chairman, Mr. Edwin Uzor; Governor Ifeanyi Arthur Okowa and his wife, Edith, during a thanksgiving reception programme for Okowa…at the weekend

We failed to address key issues, says Rivers former deputy speaker Emmanuel Mash Port Harcourt

he immediate past Deputy Speaker of the Rivers State House of Assembly, Hon. Leyii Kwane, has expressed regret over the disappointing way the House, which was the seventh assembly, ended. Kwanee, who acted as speaker in the last days of the assembly, following the absence of Rt. Hon. Otelemabama Dan Amachree, noted that the assembly failed to help the people correct some key

Chukwu David Abuja

he Chairman, Senate Committee on Petroleum Resources (Downstream), Senator Magnus Abe, yesterday described the fuel subsidy managed by the immediate past Peoples Democratic Party (PDP) led Federal Government as a scam. Abe, who represents

issues the executive arm could not address. It will be recalled that the House failed to question four commissioners, who were summoned to give account of spendings in their ministries, just as it could not reconcile the two factions in the assembly and ensure that the court were open for business. Kwanee, in a statement noted that the valedictory session of the seventh assembly that would have ended in glamour, shamefully came to an end within minutes without achieving any significant thing

before it came to an end. The Deputy Speaker, who was absent at the sitting, frowned at the failure of 17 legislators that attended the brief plenary to address the face-off that ensued between them and aggrieved members of the Parliamentary Staff Association of Nigeria (PASSAN). He wondered where history would place the 17 lawmakers and urged the incoming 8th assembly to learn from the mistakes of the seventh assembly, just as he called on the people to persevere in the face of the disappointing

attitude of some public officials. Kwane said the seventh assembly could not even resolve the welfare needs of the PASSAN members that have been owed allowances since 2014, and prayed that the state will never again go through what it passed through under the seventh assembly. It will be recalled that the assembly complex was shut after lawmakers fought on the floor of the House on July 9, 2014, and is expected to be opened today by Governor Nyesom Wike, who has ordered the reopening of the complex.

Fuel subsidy, a scam, says Abe

Rivers South East senatorial district, stated this in an interview with New Telegraph in Abuja, while reacting to the lingering crisis in the oil sector, which has created a lot of hardship for Nigerians. He argued that no responsible government across the world would accept to go into subsidy arrangement in the manner

it was executed in Nigeria, stating that the whole process was tantamount to stealing. The legislator, who was visibly worried about the state of the economy, said subsidy had neither economic nor social benefit to the people, warning that any government that tried to manage subsidy would also get into the kind of

mess experienced by the past administration. The politician, who lost his ambition to return to the 8th Senate, also noted that sequel to the economic decadence that hit the nation under the administration of the immediate past President Goodluck Jonathan, the new government led by President Muhammadu Buhari, would have

he Nigerian Navy has promised to ensure that it continues to strengthen its relationship with the public, saying it was the only way to enhance public confidence in the armed forces. The Flag Officer Commanding (FOC), Eastern Naval Command, Rear Admiral Henry Babalola, gave this assurance yesterday in Calabar after a sea trip with some members of the public to mark the end of the Navy Week. While stressing the need for a cordial military/civilian relationship, Babalola said no security outfit can achieve the desired result without partnering with members of the public.

The FOC acknowledged that the navy belongs to Nigerians and that the public deserves the right to know the operational activities of the outfit and how its revenue is utilised. He said the civilian sea trip gives the general public the opportunity to have a better perception of the navy as it was part of the corporate social responsibility of the navy to the public. “The name itself is Nigerian Navy, so it belongs to Nigerians. So, you reserve the right to ask us what we do as a navy and how we utilise the revenue appropriated to us,” Babalola said. He added; “In the years ahead, we expect improved performance. The recent commissioning of four naval ships is a milestone; Nigerian Navy will be 59 on June 1.”

Agas appointed Delta SSG Dominic Adewole ASABA

elta State governor, Ifeanyi Okowa, yesterday hit the ground running by appointing Chief Ovie Agas, as the Secretary to the State Government (SSG). This was the first appointment Okowa would make since he was sworn in as the governor of the state last week. New Telegraph, however, gathered that his Chief Press Secretary (CPS) and Chief of Staff (CoS) may emerge today. The governor also proved his desire to lead the state by example when he charged those who will be appointed into his cabinet to be accountable or get set to be shown the way out. Agas, a former member of the House Assembly, who represented Ughelli South II

for eight years, relinquished the seat for indigenes of his constituency to benefit during the 2011 general elections. The former lawmaker was said to have worked assiduously during the April 11, 2015 Governorship and House of Assembly elections for Okowa and the Peoples Democratic Party (PDP). Announcing his appointment during his thanksgiving reception in Asaba yesterday, Okowa took the mammoth crowd of wellwishers by surprise when he said: “Let me congratulate Chief Ovie Agas, who has just been appointed as the Secretary to the State Government.” Okowa, who vowed to build a state of the citizen’s dream, reiterated his willingness to commit himself to the new order by recognising and catering for the yearnings and aspirations of the citizens of the state.

NEW TELEGRAPH monday, june 1, 2015

Adamawa gov appoints SSG, CPS, others Ibrahim Abdul Yola

damawa State governor, Bindow Umaru Jibrilla, yesterday appointed the Director, National Office for Technology Acquisition and Promotion (NOTAP), Dr. Umar Buba Bindir, as the new Secretary to the State Government (SSG). Bindow also announced the appointment of Abudullahi Bakari as the Principal Private Assistant (PPA). Bakari was until his appointment, the state Secretary of the All Progressives Congress (APC). Alhaji Ahmed Mahmud, the Director of Protocol to former Governor Murtala Nyako, also retained his position in the new dispensation. A statement issued and signed by the Chief of Staff (CoS), Government House, Mr. Abdulrahman Abba Jimeta, named Mr. Yohanna Mathias, as the Director of Press to the Governor. Mathias was a former Commissioner for Information in former Governor Boni Haruna’s cabinet.

Kebbi sets up committee on N83bn debt Abubakari Abdul Birnin Kebbi

ebbi State Governor, Senator Atiku Bagudu, has set up a verification committee that would investigate the N83 billion debt/liabilities inherited from the administration of the immediate past governor of the state, Usman Dakingari. Addressing newsmen at the party office yesterday, the party’s Public Relations Officer (PRO), Alhaji Sani Dodo, said the committee would study and verify the claims of assets and liabilities contained in the handover notes. He further pointed out that the committee would be chaired by the former Accountant-General of the state, Alhaji Mohammed Kwaido, who will draw representatives from the state civil service, security agencies and other stakeholders. “We received three documents from the representative of the former governor, the documents are the structure, functions and duties of the office of the executive governor,” he added.

News 49

south NORTH - south

Musa Pam Jos

lateau State gover nor, Simon Lalong, has pledged to unite the various tribes in the state and ensure that peace reigns in the state even if it would cost him his life. The governor stated this yesterday during a thanksgiving service at the St. Michael’s Catholic Church, Pwomol-Heipang in Barkin Ladi Local Government area of the state. He said his mission as the governor is to bring

Lalong pledges to unite all tribes, ensure peace about unity among all the tribes for peace and development in the state. “I want to ensure Plateau people that we will not sleep until peace is restored permanently, because if our people cannot sleep, then we will not sleep as a government; and if we are to bring peace to Plateau State, it

is a task that everybody must be involved in even if it means sacrificing the life of the governor to bring peace on the Plateau, I am ready.” He called on the people of the state, both Muslims and Christians, to love one another, saying he is not a governor for a section of the people, but the

entire state, “if we want Plateau State to grow, then we must learn how to forgive and forget.” Lalong also directed all the local government chairmen to ensure that there is peace in their locality and called on them not to sleep, but make sure that peace returned to the state.

New Telegraph reports that the governor was accompanied by his wife, the Plateau State Speaker, Rt. Hon. Titus Alarms, Chief Judge of the state, Justice Pius Damulak, members of the state House of Assembly as well as local government chairmen, among others.

Nasarawa State Governor, Umaru Al-Makura, taking the oath of office for a second term in Lafia...at the weekend.

Lawmaker wants speaker Jigawa appoints SSG, sacks political appointees Dahiru Suleiman jailed for contempt Dutse

Biodun Oyeleye Ilorin

he suspended member of the Kwara State House of Assembly, Hon. Iliasu Ibrahim, has asked the state high court to commit the Speaker of the Assembly, Hon. Razak Atunwa and other principal officers of the Assembly to prison for allegedly flouting court orders. Ibrahim, who represents Ipaye/Malete/ Olooru Constituency in the House, is a member of the opposition Peo-

change of names

Chukwuma

I formerly known as Anthonia Raphael now wish to be known as Anthonia R. Tony Chukwuma. All former documents remain valid. General public take note.

Olufemi

I formerly known as Miss Ologure Lola Josephine now wish to be known as Mrs. Olufemi Lola Josephine. All former documents remain valid. NYSC and general public take note.

ples Democratic Party (PDP) and one of the two lawmakers who did not follow the Bukola Saraki structure to the All Progressives Congress (APC). The lawmaker has been suspended twice in the life of the current House, first in 2012 and later in 2013. He had challenged his second suspension in court and in a judgement delivered on June 13, 2014, the court nullified his suspension and ordered his reinstatement as well as the payment of his entitlements within the time he was on suspension. In a reaction, the House filed an appeal for a stay of execution of the judgement. The application was, however, rejected by the Court of Appeal, Ilorin division, which in a unanimous verdict delivered on March 11, 2015 by a three-man panel dismissed the motion, clearing the way for Ibrahim to resume.

igawa State governor, Muhammad Badaru Abubakar, has approved the appointment of Alhaji Abdulkadir F. Adamu, as the Secretary to the State Government (SSG). He also accused the immediate past government of the PDP of awarding excessive ‘white elephant projects’ in the state. In a statement issued

and signed by the Permanent Secretary, Government House, Dutse, Alhaji Sambo Mohammed, Abubakar said the appointment and the dissolution of existing political appointments were with immediate effect. A seasoned administrator, Adamu was, until his new appointment, the Accountant and Head of Administration in the Corporate Affairs Commission (CAC), Abuja. The statement said all

political appointments stand dissolved alongside all education secretaries in all the 27 local government areas across Jigawa State. Also dissolved are all Hajj Centre Officers in the 27 councils in the state. In a related development, Governor Badaru Abubakar had pledged to review the 2015 Jigawa State budget to conform to the people’s needs, accusing the past administration of misplacement of priorities.

Ganduje exonerates Kwankwaso over N300bn liabilities Muhammad Kabir Kano

ano State governor, Dr. Abdullahi Umar Ganduje, has exonerated the immediate past governor of the state, Alhaji Rabiu Musa Kwankwaso, in the N300 billion debt bequeathed to the new administration, saying that he would be pruning down the number of ministries in the state and as well establish anti-corruption and due process offices.

Ganduje did not only cleared his former boss, who handed over power to him against committing any crime for leaving behind N300 billion liabilities, but added that the action is nothing but a normal situation that usually cannot be escaped. The governor, who was speaking with newsmen in his office yesterday, said he intended to create a strong cabinet that will ensure that all ministries, parastatals and agencies are well positioned, so that

directives coming from his office are not only strictly adhered to, but are diligently followed. He further said that the liabilities left behind by his predecessor was not a crime, but that the dwindling revenue from the Federal Government affected the fortunes of the government. “I don’t think Kwankwaso has committed any crime for leaving behind these huge liabilities, because whatever happened was planned, coordinated and executed with me."

50 WORLD | News

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

US Vice-President Biden's son dies of cancer

eau Biden, the eldest son of US Vice President Joe Biden and a two-time attorney general for Delaware, has died of brain cancer, his family announced Saturday. He was 46. Beau Biden, who had served in Iraq as a lawyer with the Delaware Army National Guard, had been undergoing treatment at the Walter Reed Medical Center just outside Washington. "He battled brain cancer with the same integrity, courage and strength he demonstrated every day of his

life," the vice president's family said in a statement. "The entire Biden family is saddened beyond words. We know that Beau's spirit will live on in all of us especially through his brave wife, Hallie, and two remarkable children, Natalie and Hunter." Beau Biden was a popular Democrat in his East Coast state of Delaware and had once been expected to follow his father onto the national political stage. He joined the National Guard in 2003 as a judge advocate general, or military lawyer, and deployed

Beau

to Iraq in 2008 as his father was campaigning for the vice presi-

dency as Barack Obama's running mate. "He didn't have to go," US Secretary of State John Kerry wrote before suffering a cycling accident in France yesterday. "He didn't have to do any of it. But he was filled with a sense of honor, duty, and humility to the core. He was a class act." Beau Biden briefly considered running for the US Senate to take the seat vacated when his father became vice president after the 2008 election, but he ultimately decided to continue working as Delaware's attorney general.

Obama paid homage late Saturday, praising Beau Biden's commitment to his family. "Like his dad, Beau was a good, bighearted, devoutly Catholic and deeply faithful man, who made a difference in the lives of all he touched and he lives on in their hearts," Obama said in a statement. "But for all that Beau Biden achieved in his life, nothing made him prouder; nothing made him happier; nothing claimed a fuller focus of his love and devotion than his family. Just like his dad," the president added.

Kerry breaks leg in bike crash

Migrants receiving meals after disembarking from Italian Navy vessel, Fenice, in the Sicilian harbour of Augusta,Italy, yesterday.

5,000 Mediterranean migrants rescued

he corpses of 17 migrants were brought ashore in Sicily aboard an Italian naval vessel yesterday along with 454 survivors as efforts intensified to rescue people fleeing war and poverty in Africa and the Middle East. More than 5,000 migrants trying to reach Europe have been saved from boats in distress in the Mediterranean since Friday and operations are in progress to rescue 500 more, European Union authorities said yesterday. In some of the most intense Mediterranean traffic of the year, migrants who left Libya in 25 boats were picked up by ships from Italy, Britain, Malta and Belgium, assisted by planes from Iceland and Finland, the EU's border control agency Frontex said. Naval and merchant vessels involved in rescue operations also came from countries including Germany, Ireland and Denmark. The 17 corpses

found on one of the boats arrived in the Sicilian port of Augusta aboard the Italian navy corvette Fenice. Italian prosecutors are investigating how they died. Frontex is coordinating an EU rescue mission in the Mediterranean known as Triton, which was stepped up after around 800 migrants drowned off Libya in April in the Mediterranean's most deadly shipwreck in living memory. "This is the biggest wave of migrants we have seen in 2015," Frontex Executive Director Fabrice Leggeri said in a written statement. "The new vessels that joined operation Triton this week have already saved hundreds of people." Italy has so far borne the brunt of Mediterranean rescue operations. Most of the migrants depart from the coast of Libya, which has descended into anarchy since Western powers backed a 2011 revolt that ousted Muammar Gaddafi. Calm seas

are increasingly favoring departures as warm spring weather sets in. The migrants saved over the weekend are all being disembarked at nine ports on the Italian islands of Lampedusa, Sicily and Sardinia and on its southern mainland regions of Calabria and Puglia. The latest wave of more than 5,000 arrivals will take the total of those reaching Italy by boat across the Mediterranean this year to more than 40,000, according to estimates by the United Nations refugee agency. The EU this month agreed on a naval mission to target gangs smuggling migrants from Libya, but a broader plan to deal with the influx is in doubt due to a dispute over national quotas for housing asylum seekers. The plan to disperse 40,000 migrants from Italy and Greece to other countries met with resistance this week, with Britain saying it would not participate and some eastern countries calling for a voluntary scheme.

Summit urges Burundi elections delay, halt to violence

lections in Burundi should be delayed by at least a month and a half and all violence must stop, East African leaders said yesterday after a summit on the crisis. "The summit, concerned at the impasse in

Burundi, strongly calls for a long postponement of the elections not less than a month and a half," the East African Community (EAC) said in a statement read out by its secretary general, Richard Sezibera, after a meeting of regional

leaders in Tanzania. The statement called "on all parties to stop violence," for the "disarmament of all armed youth groups" and for "the creation of conditions for the return of refugees" who have fled weeks of political violence.

S Secretary of State John Kerry broke his leg in a bicycle crash Sunday, apparently after hitting a curb, and scrapped the rest of a four-nation trip that included an international conference on combating the Islamic State group. Kerry was in stable condition and in good spirits as he prepared to return to Boston for further treatment with the doctor who previously operated on his hip, US State Department spokesman John Kirby said. He said X-rays at a Swiss hospital confirmed that Kerry fractured his right femur. "The secretary is stable and never lost consciousness, his injury is not life-threatening and he is expected to make a full recovery," Kirby said in a statement. Kerry, 71, was taken by helicopter to Geneva's main medical center, HUG, after apparently

hitting a curb with his bike near Scionzier, France, about 40 kilometers southeast of the Swiss border. Paramedics and a physician were on the scene with his motorcade at the time and provided him immediate attention. They quickly decided to order the 10-minute-long helicopter transport. The Dauphine Libere, a local newspaper, said Kerry fell near the beginning of his ride to the famed mountain pass called the Col de la Colombiere, which has been a route for the Tour de France more than a dozen times. Right around the time of his fall, a Twitter feed about local driving conditions warned of the danger due to gravel along the pass. According to the newspaper, some Haute Savoie officials were with Kerry at the time, including the head of the region.

IS claims Libya suicide attack, declares war on key militia

he Islamic State group yesterday declared "war" on the powerful Fajr Libya militia alliance that controls Tripoli and claimed a suicide bombing that killed five of its fighters. The dawn blast in northwest Libya is the latest in a series of attacks by IS in the politically divided North African country, where the jihadists have exploited chaos to gain a growing foothold. "A car suicide bomber blew himself up near a checkpoint at an entrance of Dafniya," between the town of Zliten and Libya's third city Misrata, said a spokesman for Fajr Libya (Libya Dawn). The attack killed five

fighters and wounded seven others, he added. The LANA news agency of the militia-backed Tripoli administration gave a similar account of the attack, and also reported that five were dead. IS claimed responsibility for the attack in a message posted on Twitter, identifying the suicide bomber as a Tunisian named Abu Wahib al-Tunsi. The jihadist group also warned Fajr Libya to be ready for "war". "The apostates of Fajr Libya must know that a war is coming to cleanse the land of their filth unless they repent and go back to their true religion," said the extremist group.

Rain brings relief as India heat wave death toll tops 2,200

cattered rain yesterday brought much-needed but only temporary relief to parts of India hit by a long heat wave as the death toll from the blistering temperatures crossed 2,200, officials said. Thunderstorms struck sections of southern states of Andhra Pradesh and Telangana, which have borne

the brunt of the deadliest heat wave in more than two decades, as well as the capital New Delhi. But the toll continued to climb and the weather bureau warned that temperatures in swathes of southern, western and northern India would hover around 45 degrees Celsius (113 degrees Fahrenheit) in coming days.

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Messi’s goal was from another planet – Enrique

Flying Eagles can win World Cup – Adepoju

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Invest in your career, Ogba tasks athletes

Did you know? Alexis Sánchez has been involved in 37 goals this season for Arsenal (all comps) 25 goals, 12 assists, a club-high since Van Persie in 2011/12 (42)

South Africa admits $10m FIFA payout

Nigeria’s Mikel Obi during the Orange AFCON, Equatorial Guinea 2015 final round qualifier match between South Africa and Nigeria at Cape Town Stadium.

Beware of Tanzania, Esin tells Eagles The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Ajibade Olusesan

ormer Nigerian Midfielder, Etim Esin, has said that Tanzania may pose the biggest threat to Nigeria’s ambition of picking the sole ticket from Group E of the Africa Cup of Nations qualifiers. Egypt and Chad are the other countries in the same group but many have tipped the Northern African country as the one capable of stopping Nigeria from making it to the 2017 edition of the tournament. Esin told our correspondent in an interview that Tanzania, probably not Egypt, might pose the biggest challenge to Nigeria and advised the team

to pay special attention to the two matches they would play with the East Africans. He said: “I am not saying Eagles should underrate the other teams in our group but we must beware of Tanzania. Many people have said so many things about Egypt, yes, they are our biggest rivals in that group but we should not focus too much on them. We are both big teams and should know how to handle each other. “A team like Tanzania may be dangerous. There are small teams that have been doing well in Africa and these teams have been given big ones tough times. Look at what a country like Cape Verde is doing. Look

at how transformed their football has become and how difficult and dangerous they have become against big countries. Tanzania could be that difficult and we must be ready for their challenge.” Esin however enjoined the team to intensify their effort in other to make it to Gabon 2017. He said the players should have learnt lessons from their failure to make it to the last edition and expects them hit the ground running in this campaign. “I believe the team is going to qualify for the Cup of Nations this time. I trust the coach and everyone to do a good job and make Nigerians happy again.” he added.

outh Africa did pay $10m (£6.5m) to a football body led by Jack Warner, a figure at the centre of FIFA corruption allegations, local media say. Danny Jordaan, head of South Africa’s FA, is quoted as confirming that the amount was deducted from a FIFA payment to the country in 2008. A subsequent letter requested that money to be sent, instead, to the Caribbean Football Union, reports say. South African officials deny it was a bribe to secure the 2010 World Cup. But US prosecutors insist South Africa made an illegal payment after the government promised $10m to Mr Warner then a FIFA vice-president - in exchange for the “Rainbow Nation” becoming the first African country to host the World Cup. FIFA chose South Africa as host ahead of Morocco. Danny Jordaan could not be reached for comment on Sunday, but he is quoted as insisting the money was paid to the Confederation of North, Central American and Caribbean Association Football (CONCACAF) in 2008 as South Africa’s contribution towards their football development fund. The BBC’s Andrew Harding in Johannesburg says unnamed officials have confirmed that the payment was made to support football development among members of the African diaspora - something which does make sense in the political context of the time. The latest reports come with FIFA - the governing body of world football - in crisis. Senior FIFA officials face a string of bribery charges. Its head, Sepp Blatter, has not been implicated but has faced calls to stand down. He was re-elected as FIFA president on Friday.

Jordaan

52 Sport

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

Civil Defence, Team Ogun lead NCC Tennis League Ajibade Olusesan

T Chukwumerije (centre) giving instructions to the athletes

40 athletes for Chukwumerije taekwondo clinic Emmanuel Tobi

orty participants across Nigeria are expected on converge in Abuja from June4th – 6th for Chika Chukwumerije Sports Foundation annual taekwondo training workshop for Under-20 athletes. The intensive three-day workshop which began in 2010 includes physical fitness training, tactical and technical sessions, where participants will be taught current training methods, techniques using the latest equipment. Furthermore, special inspirational sessions will be conducted during the program me that allows interactions between the

young participants and two iconic taekwondo figures in Nigeria – 2014 Commonwealth Gold Medallist, Ms. Josephine Esuku and 3-time NUGA Gold Medallist, Alhaji Sani Lawal. In another academiclike session, Technical Coordinator of the program, Chika Chukwumerije, who holds an MSc in Operations and Supply Chain Management, and successfully organizes well-planned Taekwondo events, will hold an Event management course to expand the knowledge base and soft skills of the participants. According to the host of the event, Mr Tony Anafulu, who is a board member of the Nigeria

Taekwondo Federation representing the North Central Zone, and jointpartner in this CCSFdriven project, “the program is specifically designed to complement the fantastic work being done by coaches all across the country in raising young athletes, by increasing the technical and tactical knowledge of participants.” For Chika, “the most important thing is to keep engaging these young ones, and exposing them so as to develop the wonderful talents they have, and most importantly starting to treat them now like the champions we know they are.”

he Civil Defence team, playing away in Onitsha against Team Anambra and Team Ogun playing as hosts to a young CBN Futures side in Abeokuta took unassailable 4-0 leads. Babalola Abdulmumuni (Civil Defence) beat Chimezie Onyejiaka 6-3, 6-1 and Nonso Madueke overpowered Ikechukwu Illoputa 6-1, 6-1 to win the first two men’s singles matches. National women’s champion, Christie Agugbom followed with

a 7-5, 6-0 win over Lovette Donatus and the pair of Abdulmumuni and Shehu Lawal made sure of the point by beating the Anambra pair of Augustine Nwokedi and Nnaemeka Achusim 6-1, 7-5. In Abeokuta, Team Ogun won all four matches on the opening day but not without a fight from the CBN Futures Team featuring the top juniors in Nigeria. Ronke Akingbade, the 2012 CBN Senior Open Champion, needed three sets and a tiebreak to beat national junior champion Angel Mcleod. The match end-

ed 4-6, 6-4, 7-6(3). In men’s singles, Joseph Imeh beat Umoru Balami 6-1, 6-2, while Monday Igbinovia defeated Martins Abamu 7-6(1), 6-2. Imeh and Igbinovia beat Balami and Michael Michael 6-1, 7-6 to make the remaining three matches merely academic. In Asaba, the hosts Team Delta are tied 2-2 with Team Tombim from Abuja at the end of the first four matches. First mens singles: Christian Paul (Tombim) beat Candi Idoko 6-4, 4-6, 6-2. Second Mens singles: Albert Bikom (Delta) beat

Keshi, Eagles condole Emenike over father’s death

uper Eagles’ Head Coach, Stephen Keshi, his assistants, back-room staff and players have condoled with striker Emmanuel Emenike over the death of his father, Pa Felix Emenike Ndukwu. Keshi said on Sunday that the entire team feels Emenike’s loss at this moment in time and would want him to be strong for his family. “I can imagine what Emma is going through at the moment, the pain and the sense of loss that comes with losing someone as close and dear as one’s father,” Keshi said.

“On behalf of every member of the Super Eagles, including the coaches, back -room staff and the players currently in camp here in Abuja, I want to condole him and ask him to be strong for those Pa Emenike Ndukwu has left behind. We ask God to also strengthen him and comfort him,” Keshi added. Although not called up for the June 13 Africa Cup of Nations qualifier against Chad in Kaduna, Turkey -based Emenike has been a key figure in the Super Eagles since breaking into the team in 2011.

Lawmakers rename Akwa Ibom stadium after Akpabio

A Akpabio

kwa Ibom House of Assembly has passed a resolution naming Akwa Ibom International Stadium otherwise known as Nest of Champion after the immediate past Governor of the state, Chief Godswill O. Akpabio. The Speaker of the house, Rt. Hon. Sam Ikon, who stated this recently when members of Akwa Ibom State House of Assembly paid Chief Godswill Akpabio a courtesy visit

at Governor’s Lodge, Uyo, said this was done as a mark of honour to him for the execution and inauguration of the stadium within a record time. Ikon said they visited him to express their appreciation to him for what he had done for the state particularly in partnering with the state house during his administration, and stressed that Chief Akpabio loves the people, which was why he transformed the

state through infrastructural development, noting this was the reason they have decided to name the stadium after him. Immediate past Governor of Akwa Ibom, Chief Godswill Akpabio described the visit as symbolic and thanked them stressing that they have also impacted his political life, and contributed by their partnership with the state government for the peace in the state. He said unlike other Houses

of Assembly that are usually embroiled in prolonged crisis Akwa Ibom House of Assembly never experienced such and lauded them for their sense of maturity in handling legislative issues and for their determination and focus in seeing to the improved living standard of the people, saying that their names have been written in gold and that he was proud and glad to have worked with them.

African U-23: Nigeria to play Congo StarTimes broadcast F’Eagles, Falcons matches round of qualifying. Charles Ogundiya

igeria U-23 team will meet Congo U-23 team in the final qualifying round for the African U-23 Championship scheduled for Senegal in December after the Congolese defeated Ghana 4-3 on penalties. Ghana went into the game with a slender 1-0 lead from the first leg, Congo however defeated the Black Meteors 1-0 to take the game to penalty shootout with Congo triumphing 4-3. Nigeria, Algeria, Gabon, Cote d’Ivoire, Egypt, South Africa and Morocco (who played at the 1st African U-23 Championship in Morocco in 2011, alongside new hosts Senegal) have drawn byes into the final

Recently the Head Coach of the U-23 National Team, Samson Siasia, released a list of 30 players who will kickstart the team’s camping programme ahead of the fixture against Congo, in July. All the invited players are expected to report on Monday, June 1 (today), while training commence on Tuesday June 2. Siasia, however exempted the Warri Wolves Oghenekaro Etebo and Freedom Omofonma from resuming in camp on Monday, due to their CAF Confederation Cup game coming up on June 6. The 2nd African U-23 Championship will take place in Senegal, from December 5 to 19.

Tosin Obisesan

igital broadcast station, StarTimes, has announced that the company has secured rights to broadcast football matches involving Nigeria’s U-20 male team, the Flying Eagles, and the women senior female team, the Super Falcons, as they participate at the FIFA-20 World Cup and FIFA Women’s World Cup respectively. The games which are the FIFA U-20 World Cup in New Zealand will be broadcast from May 30 until June 20 while the FIFA Women World Cup Canada 2015 will be aired from June 6 to July 5 as the FIFA U -17 World Cup in Chile 2015 holds from October 17 till November 8, 2015. The company’s PR Manager, Israel Manager, said that the company has concluded plans to launch a new sports channel called Star Sport Premium on the StarTimes Unique bouquet from June 1.

Jason Ebie in jersey No 5 of Lagos Islanders trying to dribble Sunday Aribiyun in jersey No 2 of Oluyole Warrior during the DStv Basketball League held at Landmark Center, Oniru, Victoria Island, Lagos. Lagos Islander won by 93-60.

International Sport 53

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Messi’s goal was from another planet – Enrique

uis Enrique has showered praise on Lionel Messi after the forward produced a brilliant display in Barcelona’s 3-1 Copa del Rey final win over Athletic Bilbao on Saturday. The Argentine enjoyed another memorable match as he scored an incredible solo goal to break the deadlock before adding a third for his side in the second half following a Neymar tap in. Enrique has joined the chorus lauding the 27-year-old and suggested efforts like his wondergoal opener which he conceded he had not seen from a good angle yet - are witnessed all of the time in training. “We’re used to this Messi. We’re lucky to enjoy him every day in training, when we see him wriggle away from three challenges before shooting. His first goal was from another galaxy,” the coach said. “I can’t wait to see the goal on television – being a coach made it difficult to see properly.”

Messi beat four Bilbao defenders to score his 57th goal of another incredible season

Klopp admits painful farewell Arsenal set to land Aubameyang

Klopp

orussia Dortmund coach Jurgen Klopp battled to contain his emotions on Saturday after his final game on their bench saw his team lose 3-1 to VfL Wolfsburg in the German Cup final. Klopp, who is leaving after seven years in charge, said he would not be talking about his ‘painful’ departure, adding it could have been a completely different game if Dortmund had enjoyed a bit more luck. “The departure is starting to be painful. Now there won’t be a Cup party, just a farewell

party,” he told reporters. Wolfsburg scored three times in 16 minutes after Pierre-Emerick Aubameyang put Dortmund ahead in the fifth minute. “My emotional state is now below average,” Klopp said, while evidently holding back the tears. “I am working very hard at the moment to process this defeat.” The German, courted by seemingly every top European club, had announced his departure months ago after Dortmund’s bad domestic season.

Wilshere mocks Spurs in FA Cup bus parade

ngland midfielder Jack Wilshere marred Arsenal’s open-top bus parade to celebrate victory in the FA Cup final by taking to the microphone to mock rival club Tottenham in a foul-mouthed outburst. The 2 3 - ye a r- o l d Wilshere chanted a song

about Spurs that contained an expletive and was in the middle of another when Arsenal broke off from the live broadcast on the club’s in-house media channel on Sunday. The studio presenter immediately apologised for any offense caused by Wilshere’s remarks.

The player could be disciplined by the English Football Association for his remarks. Wilshere came off the bench in the second half of Arsenal’s 4-0 win over Aston Villa in the FA Cup final on Saturday. Arsenal retained the trophy with a record 12th victory in the final.

rsenal could be about to make a huge £29.9million bid for Borussia Dortmund striker Pierre-Emerick Aubameyang. The Gunners already have a pacey front line with the likes of Theo Walcott and Alexis Sanchez, but Arsene Wenger is now hoping to add a player that can run very fast. According to the Metro, the Gunners are considering lodging an initial offer of just under £30million for the man who has 25

goals and 10 assists to his name in a productive season in Germany. Arsene Wenger’s side has already been linked with Karim Benzema in recent weeks and if they can land both Benzema and Aubameyang they would surely have one of the most feared attacks in Europe. Arsenal ran out 4-0 winners in Saturday’s FA Cup final against Aston Villa to defend their title, and will now be hoping to push for the Premier League trophy in the next campaign.

Dyke calls on Platini to stand up to Blatter

ootball Association chairman Greg Dyke has called on UEFA president Michel Platini to show leadership against Sepp Blatter in the wake of the corruption allegations engulfing the world governing body. Blatter won a fifth term as president on Friday despite widespread calls for him to step down after seven serving FIFA officials were among 14 people arrested on corruption charges after being indict-

ed by the US justice department. Before the vote, Platini made a personal appeal to Blatter to quit and even suggested European teams could boycott the World Cup if he remained in charge. “It does require real leadership and Mr Platini has now got to stand up. He stood up and criticised Sepp Blatter, he’s now got to lead the opposition,” Dyke told BBC Radio 5 Live’s Sportsweek programme.

French Open: Ivanovic through to quarterfinals

Wilshere with cup celebrating with teammates

na Ivanovic made the French Open quarterfinals for the first time since her 2008 title run Sunday where she’ll face Elina Svitolina, the first Ukrainian to make the last eight. But defending champion Maria Sharapova’s scheduled last-16 clash against Lucie Safarova was pushed back until Monday after rain caused a lengthy stoppage at a chilly Roland Garros. The Russian second seed now faces the prospect of playing matches on two successive days with the first two women’s quarterfinals already programmed for Tuesday. Seventh-seeded Serb Ivanovic defeated Russian ninth seed Ekaterina Makarova, a semi-finalist at the Austra-

lian Open in January, 7-5, 3-6, 6-1 to book her eighth career Grand Slam quarter-final. The 20-year-old Svitolina beat fellow former Roland Garros junior champion Alize Cornet on a windy, chilly Court Philippe Chatrier 6-2, 7-6 (11/9). “It’s amazing to be in the quarter-finals again. To be honest, coming into the tournament I didn’t really expect that at all,” said Ivanovic. “But I really worked hard for each match. I worked hard even before the tournament to reach the quarterfinal again.” Svitolina, seeded 19, is only the second Ukrainian woman to reach a Grand Slam quarter-final after Kateryna Bondarenko made the last eight at the 2009 US Open.

Ivanovic

Sport

MONDAY, JUNE 1, 2015 NEW TELEGRAPH

STANDINGS

FIFA U-20 World Cup

Flying Eagles can win World Cup – Adepoju Charles Ogundiya

A Adepoju

former Super Eagles midfielder, Mutiu Adepoju, has tipped the Flying Eagles of Nigeria to win the FIFA U-20 World Cup in New Zealand. Speaking with New Telegraph on the telephone, Adepoju said the team had been consistent in their performance, a hallmark of a champion. “They have shown that they have what it takes to win the tournament,” the Kwara Football Academy administrator said. “This is a trophy that has

eluded us for a very long time and I believe this team can win it in New Zealand. “Since the qualifiers, they have been consistent and we should not forget that the players have been together for a very long time as a team.” He however advised the players not to be complacent as all eyes would be on them because of their exploit since their days at the U-17. Adepoju, a former junior international and a member of the team that got to the final of the U-20 tournament in 1989, implored Nigerians to support the team with their prayers.

GROUP A

MP W

GA +/-

Pts

USA

New Zealand 1

Ukraine

Myanmar

-1

Argentina

Panama

Austria

Ghana

Portugal

Colombia

Qatar

-1

Senegal

-3

Mali

Uruguay

Serbia

-1

Mexico

-2

GROUP B

GROUP C

GROUP D

Mali beat Mexico for Africa’s first win • As Portugal thrash Senegal 3-0

en-man Mali beat nineman Mexico 2-0 in their first Group D match of the Fifa Under-20 World Cup in New Zealand, as Senegal lost 3-0 to Portugal in their opening Group C fixture. Mali, who secured the biggest upset of the competition so far through goals from Adama Traore and Dieudonne Gbakle, were forced to defend for much of the first half against Mexico. Mali seemed likely to be further stretched when Hamidou Maiga was shown a red card in the 56th minute for a clumsy tackle on Hirving Lozano. But Mexico went from being a man up to a man down in the space of two minutes. Diego Gama was sent off for an off-the-ball incident in the 66th minute, and Oscar Bernal received a second yellow card for his challenge on Souleymane Diarra in the 68th. Mali quickly capitalised on their numerical advantage. Adama Traore headed home Youssouf Kone’s free-kick 14 minutes from time, and Mali sealed the game three minutes GROUP

DATES

later when Dieudonne Gbakle slammed the ball home. Mali coach Fanyeri Diarra said the early win lifted pressure from his team. “I’m amazed by the great shape my players are in physically,’’ he said. “They’re up to the task even though they’re coming to the end of the regular season at club level.” Mali are top of Group D after Uruguay beat Serbia 1-0. Senegal began their campaign with a 3-0 defeat to Portugal - previous winners in 1989 and 1991. Portugal opened the scoring in their Group C encounter through Gelson Martins after only 26 seconds - the fourthfastest goal in the tournament’s history. Senegal recovered from the early setback with goalkeeper Ibrahima Sy keeping Senegal in the match until the closing stages. There was little between the two sides until Andre Silva and Nuno Santos both found the back of the net for Portugal in stoppage time.

MATCHES

RESULTS/TIME

Group A

Saturday 30 May New Zealand v Ukraine

0-0

Group A

Saturday 30 May USA v Myanmar

2-1

Group B

Saturday 30 May Argentina v Panama

2-2

Group B

Saturday 30 May Ghana v Austria

1-1

Group C

Sunday 31 May

Qatar v Colombia

0-1

Group D Sunday 31 May

Mexico v Mali

0-2

Group C

Portugal v Senegal

3-0

Group D Sunday 31 May

Uruguay v Serbia

1-0

Group E

Monday 01 June

Nigeria v Brazil

Group F

Monday 01 June

Germany v Fiji

Group E

Monday 01 June

Korea DPR v Hungary

Group F

Monday 01 June

Uzbekistan v Honduras -

Group A

Tuesday 02June

Myanmar v Ukraine

2am

Group B

Tuesday 02June

Austria v Panama

5am

Group A

Tuesday 02June

New Zealand v USA

8am

Group B

Tuesday 02June

Argentina v Ghana

8am

Sunday 31 May

Adam Traore of Mali shoots past Mexican goalkeeper Raul Gudino

olombia beat Qatar 1-0, scoring in the 24th minute through Joao Rodriguez, and then holding out a strong resurgence from the Asian champions throughout the second half. After a slow start, Colombia created a classy goal when Santos Borre laid the ball into the path of Rodriguez who placed his shot between the

Colombia edge Qatar in close tie legs of Yousof Hassan. Rodriguez might have had a first half hat trick as Colombia continued to dominate. He blasted a shot straight at Hassan after a tight turn which eluded the defense, then failed to take advantage of a defensive mix-up created by Jeison

Angulo’s accurate pass. Qatar came out strongly in the second half with Amoez Ali and Jassim Al Jalab combining in two raids which almost produced an equaliser. They continued to press through the dying stages of the match but Colombia held

Ghana salvage draw against Austria

hana opened their Fifa Under-20 World Cup campaign in New Zealand with a 1-1 draw against Austria. Ghana’s Yaw Yeboah converted a 90th minute penalty, that he had won when he was brought down by Konrad Laimer, to salvage the draw. Earlier, Austria had taken the lead after Bernd Gschweidl scored an early second half goal in their Group B clash. It was an entertaining match despite the wet conditions in Wellington. Austria seemed to be in control of the fixture after their 50th minute goal, and even missed the chance to double their lead 10 minutes later when Markus Blutsch shot over from a good position. But Ghana, champions in 2009, rescued a point after Laimer’s clumsy tackle on Yeboah which resulted in a

Ghana’s Samuel Tetteh controls the ball under pressure from Austria’s Daniel Rosenbichler

penalty. Yeboah produced a solid spot-kick, hitting a left-foot shot low to the right of Casali, the Austrian goalkeeper.

In the other Group B match, Argentina captain Angel Correa scored both his team’s goals as the tournament favourites were held to a 2-2 draw by Panama.

Features 55

NEW TELEGRAPH MONDAY, JUNE 1, 2015

Invest in your career, Ogba tasks athletes Charles Ogundiya

resident of the Athletic Federation of Nigeria, Solomon Ogba, has tasked home-based athletes to invest in their career instead of waiting for handouts from the federation. Speaking with New Tele-

graph, the president said it was not the duty of the federation to take up the training and upkeep of athletes as they are professionals. ‘’Athletes all over the world belong to clubs and associations that undertake their training and upkeep,” the former Delta State Sports Commissioner said.

from their counterparts in other parts of the world and run their clubs and association in line with best global practices. He however thanked the National Sports Commission for supporting AFN in its bid to organise a standard meet for homebased athletes.

Taekwondo: Orobor, Ajayi emerge tops at police trials

Bishop Howells, Uncle Bayus win baseball/softball tourney

Ifeanyi Ibeh

rnest Orobor at the weekend emerged as the best male fighter at the Nigerin Police Taekwondo trials, while Omobobola Ajayi emerged victorious in the female category at the event which took place at the Police Sports Centre, Lagos. Orobor was victorious in the men’s middleweight category before emerging as the best overall male fighter at the trials, while Ajayi, the best overall female fighter, picked up first place in the women’s heavyweight category. Other winners were Francis Omoba (men’s lightweight), Friday Felix (men’s featherweight class), Irene Osuala (women’s featherweight), Betty Osado (women’s welterweight), and Uba Jesam (men’s heavyweight). A sizeable number of men

Nigeria athletes

“When they compete in meets and earn money, or they win prize money in major games and championships, the clubs take a percentage. “That is the standard all over the world, Nigeria cannot be an exception.’’ He urged the clubs and associations to take a cue

and women of the Nigerian Police Force, drawn from across the country, participated at the trials. Chairperson of the Nigerian Police Taekwondo Association, Stella Ebikefe, a Deputy Superintendent of Police, commended all the athletes, officials, referees and other stakeholders that contributed to the success of the programme. She, commended Assistant Superintendent of Police Peter Obi-Chigozie, who came from Nassarawa State; coach of the Police taekwondo team, Peter Awodi, and Abuja-based Inspector Eno Effiong who all made the event a success. DSP Ebikefe also charged all the athletes at the event not to relent as she urged them to keep improving on their skills in order to win more laurels for self and country.

he boys of Bishop Howells Memorial Grammar School at the weekend defeated Igbo-Owu Secondary School 6-5 to win the Lagos All Secondary Schools U-14 Baseball Championship held at the Jubril Martins Memorial Grammar School, Ebute Metta. In the softball event, the girls of Uncle Bayus College Ikorodu defeated Bishop Howells Memorial Grammar School 10-6 to emerge victorious in the finals while Effortswill Academy, Ejigbo, drubbed Girls Senior High School, Surulere, 18-2 to claim third spot. Onitola Secondary School defeated Festac Secondary School 4-0 to claim third spot in the baseball event. Dorcas Adegbe, a 14-year-old SS2 student of Bishop Howells Memorial Grammar School, who was playing competitive softball for the first time, emerged as the best catcher of the three-day championship, while Ikemefuna Okonkwo, also of Bishop Howells, emerged as the overall best catcher in the baseball category.

2015 FIFA WOMEN’S WORLD CUP

Ordega scores hat-trick in Falcons’ 9-0 friendly victory

F Ellis

South Korea hold USA in tune-up tie

n a lackluster performance, the U.S. women’s national team were held to a scoreless draw by South Korea at the weekend. Although the former champions kept possession of the ball for the greater part of the match and out-shot the South Koreans 15-7, the two-time World Cup winners were unable to break through against a lightly-regarded squad currently ranked No. 18 by FIFA. “The result wasn’t what we wanted today, but there were some takeaways and I think this is the time to get everything out of our system before we head (to Canada),” midfielder Carly Lloyd told reporters after the game. “I don’t think we moved the ball around well enough and our mobility off the ball was not conducive to having a high-tempo, passing game,” coach Jill Ellis said after the game. She said despite the “disappointing” final score, the friendly served its purpose – giving players valuable game minutes ahead of the tournament.

rancisca Ordega smashed a second half hat-trick as Nigeria’s Super Falcons whitewashed WoodBridge senior women club 9-0 in their second pre-World Cup friendly match played at the WoodBridge Soccer Centre on Sunday morning. Woodbridge Ladies went behind as early as the fourth minute through Ngozi Okobi, before Oshoala doubled the lead in the 38th minute. Ordega then plundered an eye-catching treble after the interval with Courtney Dike grabbing a brace. Perpetua Nkwocha was also on target for the African champions. Coach Edwin Okon said he was more impressed with his team’s performance than the

huge score line. “It was a very good game today. Though we won by a massive margin, I was very impressed with the team’s coordination in all departments,” he said. “This does not mean we won’t still correct a few lapses here and there but I can see the team preparing well for the tournament proper. “I’m glad we scored many goals because we need a strong firepower upfront to achieve our dream which is to lift the trophy of the 2015 FIFA Women’s World Cup. We will continue to work hard until we achieve this,” Nigeria are drawn with USA, Sweden and Australia in the first round of the 2015 Women’s World Cup, which begins on June 6, in Canada.

Ordega (right), wheels away from an opponent during recent game

Aluko eyes World Cup trophy with England

N Aluko (right) playing for England against Mexico in the last World Cup finals in Germany

igerian-born England striker, Eniola Aluko, has put her career as a lawyer on hold to target football success with the English women team. The Chelsea Ladies star said England has no excuse than to progress from the respectability of quarterfinal performances in their previous two World Cup campaigns. “Perhaps in the past,

the professionalism of other countries, Germany and America, has been better but that can’t be an excuse now,” the 28-yearold Aluko said. “We have a league as professional as Germany and America. I think the difference has been the mentality of those nations. They expect to win and do consistently win. We have to develop our

mentality to not be apologetic about wanting to win. I think that might be a reason why we haven’t won, to be brutally honest. “It’s this mentality of being okay with finishing at the quarter-finals, and saying it’s a good performance. It’s not. If you want to win, it’s not good enough. If you set out to win, nothing else is good enough.”

On Marble

“The difference between a successful person and others is not lack of strength not a lack of knowledge but rather a lack of will.”

World Record

Sanctity of Truth

Commonwealth Games: Nigerian high jumper, Emmanuel Ifeajuna was the first black African to win a gold medal in 1954.

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

– Vince Lombardi

MONDAY, JUNE 1, 2015

N150

Memo to President Buhari

ongratulations once more, Mr. President. Your election at this time offers our dear country yet another opportunity to rise to its full potentials as Africa’s most populous nation. The excitement of the past few weeks over your victory even across party lines is an immense stock of goodwill which must not be wasted over trivial wranglings that is our brand of politics. I am not a member of your political party but as a good citizen who dreams big for my country, I wish you will succeed where others have failed. I also believe that is the wish of most citizens except those profiting from our collective misery as a nation. Mr. President Sir, Nigeria is sick, very sick. The diagnosis is simple – Corruption. It has almost destroyed the country leaving the citizenry poor, confused and bewildered. The evidence is everywhere for you to see – unending power reform that delivers anything but power, decayed infrastructure, insecurity, collapse of the educational system, etc. the list is endless. The single most responsible factor for this state of affairs – Corruption. There must be something terrible and diabolical about corruption that countries all over the world are fighting it with all and every weapon at their disposal. Even China with its opaque political system is recognizing the dangers of sidestepping corruption and is now dealing with it frontally at the highest levels of its leadership. The reason for these frantic efforts all over the world to reduce corruption in public life is obvious. Corruption distorts planning, retards growth, kills good initiatives, creates inequality which in tur n creates insecurity, rewards mediocrity, derides competence, encourages eye service and sycophancy. Corruption’s greatest weapon in every developing economy is perhaps the creation of a few super rich individuals- prime beneficiaries of the corrupt system – who are above the law, close to power and operate in the best interests of their deep pockets. Their insurance policy is the incestuous relationship they enjoy with those in authority. A clear demonstration of their power in recent times in Nigeria is how they successfully grounded the country through their hoarding of Petroleum products and daring Nigerians openly. As we prepared for the inauguration of your administration, Nigeria was tur ned into the laughing stock of dignitaries from all over the world attending the event. The visiting heads of states and gover nment were greeted by long

The Blunt Edge CHUKA ODOM Leisure & Puzzle }40 chukaodom@yahoo.com

Buhari

Osinbajo

Mahmud Mohammed, Chief Justice of Nigeria

Ibrahim Lamorde, EFCC boss

lines of desperate citizens queuing to buy fuel and diesel. Those who arrived at night met Abuja in pitch darkness. The street entrance to the Presidential Villa was not spared as all the street lights were out making the Presidential Villa look like a lighted castle in a horror movie. Nigerians have bor ne all these patiently in the last few weeks because they are hopping for change which is the mantra of your party and campaign slogan.

Mr. President, I have some bad news for you. The agents of corruption in Nigeria are evenly spread across your party and the opposition party PDP. Those on your side have camp a i g n e d w i t h yo u s h o u t i n g “change”. They were at the inauguration ball beaming with smiles and hoping that the business will continue under a different banner called APC. Some of them, who will be appointed into your cabinet and other positions for their ef-

forts during the campaigns will be coming into your administration with considerable moral burden. How you reconcile this dilemma with your avowed deter mination to fight cor ruption will be the truest test of your sincerity and capacity to confront corruption frontally. Corruption manifests in different ways depending on each country’s system of gover nance and the strength of its institutions. I believe that the system we operate currently makes fighting corruption an uphill task. So you have to figure out how to take bold actions that will create a new template for this fight. You do not have the time to be in court with legions of corrupt individuals without a single conviction for years. Any effort at amending the constitution at this time will amount to a waste of time and may delay the fight. You should rather focus on institutions and building inter nal capacities through legislative actions. The new Acts will aim at making these institutions stronger and more resistant to manipulations and abuse. Mr. President, you must distance your administration from the Nigerian army of political jobbers plying their trade under the guise of intellectuals and technocrats. These often re-cycled pseudo – intellectuals have done incalculable harm to Nigeria by misleading leaders. Most of them are bereft of fresh ideas and current best practices in governance. Some of their counterparts in government allegedly sabotaged the government they are serving at the last minute in order to buy a ticket on your train. These characters will not hesitate to trade you in if the circumstances change. The state governors over the years have accumulated so much power. Unfortunately this power has been abused to varying degrees by occupants of the office. The most brazen of all is the security vote. This practice of dubious provenance has become a huge source of stealing of public funds. The matter needs to be addressed. There is need for states to conform to best practices in their procurement process to ensure transparency in government business. Given constitutional constraints, your biggest weapon in dealing with these issues is the power of your personal example and leadership. There must be incentives to states that key into your vision and mission irrespective of party affiliation. Finally, do not think that small improvements here and there will add up to change. They don’t. Change happens when an old order is replaced with a new one that is more functional, sustainable and creates transformative gains. Goodluck Mr. President.

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.