Monday, may 25, 2015 binder1 by Newtelegraphonline

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Monday, May 25, 2015

Vol. 2 No. 460

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12 pages of international new york times

Lamido, Azikiwe, Fasoranti set agenda for Buhari Wale Elegbede

minent Nigerians, including the Jigawa State Governor, Alhaji Sule Lamido; a former Governor of old Kaduna State, Alhaji Balarabe Musa; the leader of Yoruba

socio-political group, Afenifere, Chief Reuben Fasoranti and widow of Nigeria's first President, Dr. Nnamdi Azikiwe, Uche, have proffered suggestions on how the incoming administration of Major General Muhammadu Buhari, can build a new

Nigeria on assumption of office on Friday. The personalities, in separate interviews with New Telegraph, tasked the President-elect to be firm in fighting corruption, block public fund leakages, reduce cost of governance and

build a working institution, among other sectoral intervention. Identifying corruption as the bane of Nigeria’s problem, Musa bemoaned the level of graft and waste in the country, urging the CONTINUED ON PAGE 5

NEW TELEGR

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APH MONDAY , MAY 25, 2015

Money Line

Uncertainty trails ECOWA S single curren cy prospects

Issue of the

BGL in the eye

week

of a storm

Insurance

Austerity measu re: ‘Pensio will rescue contributors’ n funds

Business

Interview

‘We’ve started integrating national identit y card and BVN’

42-43

What's neW s

Scarcity raise Nigeria’s cooks price by 29% ing gas The scarcit y Petroleum of Liquefied Gas (LPG) otherwise known as cooking Africa’s biggest gas in Nigeria, degenerated crude exporter, at the weeken d.

p.22

Nigerian airlin es seek aids as US carriers get $71.5bn

12 pages of incisive Business Nigerian airline operators have called on Government the Federal the United to take a cue from States governm which clandes ent, three airlines tinely gave its , Delta, United American Airlines and $71.5 billion government in subsidies.

p.22

The Business

Desk

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Deputy Editor

(Business)

Bayo akomola

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Asst. Editor (Insuranc

tony Chukwu

Asst. Editor (Moneynyem Market)

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}21 Fraud: Cust Direct Trad oms scrap ers Input ca Recover fes N41.55bn fro m inf HUSAINI

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The jettiso coming sevenning of the DTI is introduced years after it was 2013. The service, it the countr to facilitate trade in recovered N41.55 was learnt, Bello y’s ports and billion Ahme the infrac borders. The DTI is tion last year, from the cafes, d. The operation senting four an electro of Bello had cess of lodgin nic proper cent of repre- the comm said during revenue issioni rations, usingg customs decla- collected in 2014. efforts to bring ng, was part of he Niger the Autom The first System of all ia Custo Customs Data. ated were commi set of DTI cafes involved in cargo stakeholders ms Service (NCS) Source clearance unJuly 10, 2008,ssioned in Lagos on der one community nally appro has fi- custom s revealed that , where all only Compt proces by s ved agents then the scrapping with roller-General Customs driven ses are electronically of the Di- censes would, hencef valid lirect Trader . , Hamman orth, have which haves Input (DTI) cafes, access to DTI. The decisi becom on In 2014 alone, of NCS take precau e haven for cyber crimin customs tionary measu to covered als who against cyberc dissystem to perpetrate used the of infracta total of 17,436 cases rimes in res might not frauds. Total numbe ions, about 2013 be 67 per cent above the its experi unconnected with infraction cases r of 10,423 record ence where in 2014 ed in criminals hacked intoby some the AuINFLATION RATE April 2015.... CONTIN UED Rates Da ........................ ON PAGE shboard LENDING 22 ....8.7% March 2015.... InterBank Rate..... RATE ........................ .8.5% February 2015.... EXCHANGE Prime Lending ...............12.57% RATE .....................8. Rate...........17.93 (BDC 4% EXCHANGE Maximum Lending % USD . . . . . . as at May 22) RATE .. Rate...26.83% (Interbank Pounds . . . . . . . . . . . . . . . . . N222 as at ........... May USD . . . . . . 22) .. Euro . . . . . . .. l Foreig . . . . . . . . . . . . . .N340 Pounds . . . . . . . . . . . . . . . N200 n Reserv . . . . .N245 es – $29.78 .. 9bn as at Euro . . . . . . . . . . . . . . . . . . . N301 21/05/2015 ........... . . . . N214 Source: CBN

Fuel: Nigerians groan Dele alao

Industry & Agric

Editor

Dayo ayeyem i Property Editor

adeola Yusuf Energy Editor

Wole shadare Aviation Editor

Chris Ugwu

Capital Market

Editor

abdulwahab

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Finance Editor

Kunle azeez

Senior Correspon

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Chuks Onuany Energy

nnamdi amadi Reporter

Johnson adebayo

Asst Productio

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Bayo Akom olafe

17,436

}5 lCrisis worsens lAirlines cancel flights lFirms, passengers lament lMTN, Airtel, threaten shutdown lNLC blames FG for shortage Quick Read

Editorial

Contending}19 with our own APC: Jonathan handing over nation in crisis

}12

Card reader: How PDP plotted its own fall }6 Kashamu: NDLEA denies Obasanjo, }7 George's link

Bedlam at a filling station in Lagos

AfDB meeting begins in Côte }7 d’Ivoire

MONDAY, May 25, 2015 NEW TELEGRAPH

NEW TELEGRAPH MONDAY, May 25, 2015

MONDAY, May 25, 2015 NEW TELEGRAPH

News

NEW TELEGRAPH MONDAY, May 25, 2015

Nigerians groan as fuel crisis worsens Our Correspondents

he acute shortage of petroleum products, which began about three months ago, worsened at the weekend, throwing the economy into convulsion. The fuel crisis, which has shot up the price of petrol from N87 per litre to as much as N500 per litre, especially in Lagos, the nation's economic capital, has taken a heavy toll on both individuals and organisations.

The fuel crisis has been aggravated by the fall in the nation's power generation, which has hit an-alltime low of 1,327 megawatts, which has made many homes and companies to depend more on generating sets. However, it has been difficult in the last few days to power the generating sets due to the fuel scarcity. Travellers and commuters have been subjected to transportation pangs while companies have been forced to either scale down their operations or

opt for total shutdown in the wake of inability to procure fuel to power their generators. Chaos pervaded most of the country’s airports as hundreds of passengers were stranded following scarcity of aviation fuel that forced many airlines to cancel scheduled flights. Some foreign airlines diverted their flights to other African countries to fuel for flights abroad. Already, two of the major telecommunications firms, MTN and Airtel, have notified subscribers

that services may be disrupted if the fuel crisis persists as they do not have enough stock to power their base stations. Besides, some radio stations in Lagos have been operating skeletal services just as some newspaper houses could not print yesterday owing to the scarcity of diesel and petrol. These developments were further compounded with the disappearance of cooking gas. Nigeria's woefully erratic electricity supply keeps businesses dependent on

Lagos State Governor, Mr. Babatunde Fashola (right), presenting a copy of the book titled, “The Fashola Years” to United States Senator, Christopher Coons (Delaware), during the governor’s recent visit to the US.

diesel generators. Nigeria produces more than two billion barrels of petroleum a day, but imports almost all refined fuel because its refineries are not maintained. Checks revealed that while the outgoing President Goodluck Jonathan’s government has shut doors on further negotiation with marketers, the planned meeting between President-elect, Major General Muhammadu Buhari and marketers suffered a setback last week. Buhari, who was billed to have met with the marketers last Tuesday, travelled to the United Kingdom to rest ahead of his inauguration on May 29. Added to these woes is the fact that the N159 billion claims in exchange rate differentials by the marketers would not be paid without verification by relevant authorities as emphasised on Saturday by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala. Investigations by New Telegraph revealed that the fuel scarcity has been further worsened by the strike by tanker drivers who have stopped fuel lifting in Apapa, hub of tank farm and loading gantry business in Nigeria. “There is no hope that this suffering will end before this Friday (May 29). In fact, we may have two more weeks of this agony before everything becomes normal. “I said this because the outgoing government has switched off totally on us while our hope of meeting

and ordering the immediate implementation of the report, particularly policy matters that do not require constitution amendment, Lamido said: “I can only hope the incoming government ensures it is adopted. He (Buhari) should also seek advice so that the report can be forwarded to the National Assembly.” According to Lamido, “We await what reforms General Muhammadu Buhari and the All Progressives Congress (APC) government will want to improve. However, elections in the country were, in the past, flawed while the 2015 elections were hailed internationally and locally as a huge improvement on previous elections. The area they should focus on is the aspect of the card reader which has been introduced.” Urging Buhari to plug

the incoming president before May 29 has been dashed. He has travelled to the United Kingdom to go and rest and what we heard is that he might not be back until Wednesday. “I should be sincere with you, the Nigerian National Petroleum Corporation (NNPC) has continued to bring in products, but the refusal of tanker drivers to lift the product has rendered this efforts ineffective. We all need an explicit statement on the fuel subsidy from the President-elect,” a chief executive officer of one major fuel marketing firm said. As a result of the fuel scarcity, which has also seeped to the aviation sector, many travellers were stranded nationwide as airlines cancelled scheduled flights. Scarcity of the commodity has been on for more than four weeks, but the carriers were able to draw from their reserve and complemented it with flying to neighbouring countries like Benin, Togo and Accra to get Jet A1. Aside excruciating pains domestic carriers go through to source the commodity, foreign airlines, which operate to Nigeria were also caught in the web of the scarcity as they complained of dearth of the commodity, which they said has affected their operations. New Telegraph learnt that most carriers, including American and European airlines, have resorted to flying to Cotonou, Benin Republic and Accra, Ghana to source for fuel. They have, however, run out of fuel in their reserves as they have been hit with scarcity of the commodity that has left them to either suspend operations or cut the number of flights by over 80 per cent. Managing Director of IRS Airlines, Mr. Yemi Dada, said the problem would persist as long as the government refused to do the right things. He decried the continuous trucking of fuel from the port or depot to the airports, adding that the authority should supply Jet A1 from the depot to the airports to save the sector from tankers who go on strike on slight provocation. A top official of Arik, who spoke to New Telegraph on condition of anonymity, said the carrier might be forced to stop all its flights today, owing to inability to source aviation fuel. It was gathered that the situation might continue with the ongoing strike by

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Lamido, Azikiwe, Fasoranti set agenda for Buhari CONTINUED FROM PAGE 1

President-elect to probe the outgoing government. He urged Buhari to raise the bar in the fight against corruption. He said: “Once you can solve the issue of corruption, most other problems will have been substantially solved. It is necessary that these thieves should be disempowered. “The type of anti-corruption measures that the President-elect should take must be well thought-out, supported by a tested and patriotic class of Nigerians. The most critical support should come from, in particular, the political establishment, the military, security services, the legal profession, the media and youth organisations.” On electoral reforms, Musa tasked Buhari to stabilize the electoral system where the prevalence of money is reduced to the

barest minimum, adding that the Buhari government must ensure that there is legitimacy in all levels of electoral system. For Nwankwo, the President-elect should work towards an enabling law that will reinforce the independence of the Independent National Electoral Commission (INEC), the insulation of the commission from politics and political influence and the need to reinforce laws establishing the commission, both in the constitution and the Electoral Act. He said: “This will create an INEC that is not open to manipulation and influence of politics and politicians. So, it means that in going towards the next election, the President-elect and, indeed the National Assembly, will need to go back to the drawing board and see what laws exist, that need

to be altered or need to be reinforced to give INEC the strength on independence that it needs.” On his part, Fasoranti urged the incoming president to tackle corruption by setting a personal example. He, however, added that the government should not spare anyone found culpable of stealing public funds. He said: “He (Buhari) should fight corruption by laying personal example. People are cutting corners; he should still consult other countries, copy them. There should not be sacred cows in tackling corruption. There are many people in government now who should go to jail but who are being pampered. He has to be very firm.” Lamido also harped on the need to fight graft, saying that the personality of Buhari as an incorruptible leader is a major leap in

such a campaign. He said: “They have their plans on how to fight corruption. My only concern has always been defectors who our party, the Peoples Democratic Party (PDP), had made ministers, governors, speakers and members of the National Assembly, who left us after benefiting so much and are also calling for a fight against corruption.” Lamido also said the Buhari government would need to cut the cost of governance so as to be able to revamp the economy and undertake massive infrastructure development across the country. “I can only hope the economy gets better with the advocacy for drastic reduction in the allowances that are accruable to top government functionaries and lawmakers,” he said. Eulogising the outgoing government for initiating

News

MONDAY, May 25, 2015 NEW TELEGRAPH

Card readers: How PDP plotted its own fall Onyekachi Eze ABUJA

acts emerged last week that the use of card readers in the 2015 general elections was actually the idea of some highly placed individuals in the presidency. It was also gathered that the former National Chairman of the Peoples Democratic Party (PDP), Adamu Mu'azu, fell out with his colleagues in the National Working Committee (NWC) because he preferred running the party with President Goodluck Jonathan than with the NWC members. "The chairman did not have absolute control over the party; he 'carried' PDP to the president. At every point, he was always in the Villa consulting with the president," a source told New Telegraph. Mu'azu resigned last week as PDP National Chairman, citing health challenges and family matters. The source disclosed that a key figure in the presidency brought the idea of the use of card readers in the general elections to the president

with the hope that it would confer some electoral advantages on the PDP. According to the source, at first the Independent National Electoral Commission (INEC) was not favourably disposed to the idea, and even warned against the implications. "He (the presidential aide) told the president that there is high rate of illiteracy in the North and, as such, they will find it difficult to operate the card reader. He also said the machine could help in manipulating figures for the party. And of course, you know that money will be involved," the source

added. The North had always opposed the use of electronic voting in the elections because of the low level of literacy in the region. It was probably for this reason that made the Presidency believed that the use of the card reader would be in favour of PDP in the elections, the source volunteered. According to him, it was when the president realised that the card reader would not work in his favour that he told the party to oppose its use. "By that time, it was too late. INEC refused to listen to them. And it turned out that the card reader failed

to work in the South," he added. The All Progressives Congress (APC) took the advantage of it and insisted that card reader must be used in the elections. The source blamed the rejection of PDP in the general elections on people around the president. He disclosed that when the issue of Chibok girls happened, the president was convinced to visit Chibok just like George Bush did during the September 11 terrorists' attacks in America. But his aides told him that he would be killed if he visited Chibok. "That was why he can-

celled the visit at the last minute," he added. Outgoing governor of Delta State, Emmanuel Uduaghan had blamed "characters that surrounded" President Jonathan for PDP’s loss at the election. The governor said these people had a field day with the death of former National Security Adviser (NSA), General Owoye Azazi and the health complications of late Oronto Douglas who was Special Adviser to the President on Research and Documentation. Meanwhile, trouble is not yet over for the embattled NWC members who have been under pressure

to resign for the reorganisation of the party. New Telegraph gathered that at a meeting with President Jonathan last Thursday at the Presidential Villa, the president reportedly advised the NWC members to toe the path of honour and tender their resignation letters. Tonight, the PDP Board of Trustees (BoT) is expected to meet to further deliberate on the state of affairs of the party. The meeting will be presided over by the acting Chairman, Senator Wali Jibrin, following the resignation of Chief Tony Anenih last week.

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

32o C 26oC Very Cloudy

26o C 20oC Very Cloudy

24o C 19oC Thunder Storms

40oC 26oC Mostly Sunny

33oC 24oC Partially Cloudy

33o C 24oC Thunder Storms

31o C 23oC Isolated Storms

42oC 25oC Mostly Sunny

31o C 24oC Thunder Storms

L-R: Managing Director, WAPCO Operations, Lafarge Africa Plc., Mrs. Adepeju Adebajo; Chairman, Mr. Bolaji Balogun; former Chairman, Chief Olusegun Osunkeye and Group Managing Director, Mr. Guillaume Roux, at an event in Lagos...at the weekend. PHOTO: SULEIMAN HUSAINI

Fuel crisis: Firms, passengers lament CONTINUED FROM PAGE 5

tanker drivers. Speaking on the development, Arik Air spokesperson, Banji Ola, said the airline cancelled its domestic flights nationwide, but was still operating international flights. He said: “We had to cancel our domestic flights because of lack of aviation fuel to run the aircraft. Our international flights are still running. We had a case of an international flight to London travelling to Kano to refuel before heading for its destination.” The management of Aero, in a statement yesterday, attributed the cancellation of its flights to the general scarcity of aviation fuel. The airline said in last few weeks, the supply of aviation fuel had been very irregular, which has compelled the airline to cancel some flights.

Also, Nigeria's leading cell phone provider – MTN said yesterday it urgently needed diesel to prevent shutting down services countrywide. MTN Nigeria, which has 50 million-plus customers, posted a message on Twitter, saying service will start deteriorating in 24 hours if it does not find diesel. Some customers already are experiencing problems and Nigeria's landline network collapsed years ago. "MTN's available reserves are running low and the company must source for a significant quantity of diesel in the very near future to prevent a shutdown of services across Nigeria," MTN's Corporate Services Executive, Mr. Akindale Goodwill, tweeted. Also, Airtel Networks Limited, in a statement yesterday, informed its customers that the pre-

vailing situation in the country is impacting negatively on its “commitments to delivering best-in-class quality of service and seamless telephony experience to all Nigerians.” It said while the company was doing everything within its power to ensure that all its base stations and switches were up and running, “it is sad to note that it is becoming increasingly difficult to replenish current stock of diesel due to the lingering scarcity of the products.” According to Airtel, if the situation persists, it may have adverse effects on its network, impacting both voice and data services. Amidst the deteriorating fuel scarcity, the Nigerian Labour Congress (NLC) has blamed the Federal Government over its inability to address the situation, saying the government has kept quiet on

the issues behind the fuel scarcity. It also said it would not embark on any protest over the fuel scarcity in order not to compound the hardship Nigerians. NLC President, Mr. Ayuba Wabba, told New Telegraph in an interview yesterday that the congress had sent its members out to assess the situation, adding that the nation is only being held into ransom by a few Nigerians who have constituted themselves into a cabal in the oil and gas sector. While lamenting that the subsidy regime since 2012 has been shrouded in secrecy, he blamed the Federal Government for remaining silent on the matter. However, a faction of the NLC, led by Mr. Joe Ajaero, has threatened to ask workers to proceed on an indefinite strike should the persistent fuel scarcity

in the country lingers. In a statement by the factional Deputy President, Mr. Issa Aremu, yesterday NLC described the chronic fuel scarcity as a war against the citizens and a deliberate attempt to subject 170 million Nigerians to economic suicide. Meanwhile the Federal Government has broken he ranks of the fuel marketers as Capital oil dumped tankers drivers’ alliance to halt fuel lifting at depots in Apapa. The fuel trading company said it had begun lifting of products amidst security by heavily armed security personnel. Managing Director of Capital Oil and Gas Industries Limited, Chief Patrick Ifeanyi Ubah, who announced the decision to shun the strike declared by Petroleum Tankers’ Drivers (PTD), said his action was occasioned by the need to ease the suffering of the Nigerian masses.

News

NEW TELEGRAPH MONDAY, May 25, 2015

Don't drag Obasanjo, George into your case, NDLEA tells Kashamu Kunle Olayeni Abeokuta

he National Drug Law Enforcement Agency (NDLEA) yesterday asked the Senator-elect for Ogun East, Buruji Kashamu, to desist from blaming his travails on former President Olusegun Obasanjo and former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George. The agency, in a statement by its Head, Public Affairs, Mitchell Ofoyeju, said the two elder statesmen have no connection with the ongoing investigative process against Kashamu. Kashamu, who was allegedly indicted over drugrelated offences in the United States, will be arraigned at a Federal High Court in Lagos today. Armed officials of the NDLEA, police and soldiers had on Saturday stormed his residence at plot 21, block 100, Ladipo Omotosho Cole Street, Lekki Phase 1, Lagos and confined him under house arrest following extradition request by the United States. The court will consider

whether the senator-elect would be extradited to the United States to answer allegations of drug-related offence initiated against him. Kashamu had sued the Federal Government and 13 others, asking the court to restrain the NDLEA, the Economic and Financial Crimes Commission (EFCC) and others from yielding to the American government’s request for his extradition. In the suit, Kashamu accused the Inspector-General of Police and 11 others of plotting to abduct and forcibly transport him to the U.S. to face trial. He predicated the suit on what he described as an uncovered plan by the defendants doing the bidding of former President Olusegun Obasanjo to arrest him during his swearing-in as a senator and transport him to the U.S. in a private plane to face trial before Judge Norgle. Although the court has fixed May 27 to decide on Kashamu’s fundamental rights enforcement suit, the NDLEA will this morning commence extradition procedures against the senator-elect. When our correspondents visited Kashamu’s residence yesterday, securi-

AfDB meeting begins in Côte d’Ivoire Tony Chukwunyem

igeria’s Minister of Agriculture, Dr. Akinwumni Adesina, would be the focus of attention as the 2015 Annual Meetings of the African Development Bank Group (AfDB) begins in Abidjan, Côte d’Ivoire, today. Top of the agenda at the confab, which will end on Friday, is the election of the 8th President of the Bank Group and commemoration of its 50th anniversary. Adesina is one of the candidates tipped to succeed Dr. Donald Kaberuka as AfDB President in the election scheduled to take place on Thursday. His main rival for the post is Thomas Sakala, the Zimbabwean national who has won the backing of South Africa for the position. Although Sakala has worked at the AfDB for 31 years and his knowledge of the workings of the institution is expected to boost his chances in the election, analysts believe that Adesina has the edge over the Zimbabwean in terms of professional qualifications and breadth of experience, coupled with the extensive lobbying for him by the Federal Gov-

ernment in conjunction with the President-elect, General Muhammadu Buhari. Other candidates include Dr. Samura Kamara of Sierra Leone, Mr. Sufian Ahmed of Ethiopia, Mrs. Cristina Duarte of Cape Verde and Mr. Jaloul Ayul of Tunisia. Two former AfDB’s staff members are also in the race. They are Mr. Kodje Bedoumra of Chad and Mr. Birama Sidibe of Mali. Over 2,500 delegates are expected to attend the meetings, which has “Africa and the New Global Landscape” as its central theme. The gathering will review the Bank’s 2014 operations and its 2015 development funding portfolio as well as challenges facing the African region in key areas such as climate change, infrastructure, private sector and governance. The AfDB is Africa’s premier development finance institution established in 1964 to mobilise resources for the economic and social development of its 54 regional member countries by promoting sustainable and inclusive growth.

ty operatives still cordoned off the place. About six Hilux vehicles filled with armed security operatives were seen guarding the house. The Senator-elect's media adviser, Austin Oniyokor, had alleged in a statement that the raid was masterminded by George, whose wife is the directorgeneral of NDLEA. However, the NDLEA spokesman advised Kashamu to concentrate

on the facts of his case rather than pointing accusing fingers. Ofoyeju said: "The fact is that a formal request for his extradition had been received from the Embassy of the United States of America. According to official report, Kashamu has been on the wanted list of both the US Drug Enforcement Administration (DEA) and Immigration and Customs Enforcement (ICE) of the Department of

Homeland Security (DHS). "Kashamu was indicted in the Northern District of Illinois, United States on charges brought against him by ICE. According to the United States court documents, Kashamu in his days as the leader of a prolific heroin trafficking ring based in Chicago, Illinois was known as "God," "Daddy," and "Kasmal. "He is wanted to stand trial on charges of conspiracy and importation

of controlled substances, namely heroin, into the United States dating back to 1994. "These are issues that Kashamu should prepare to address rather than point accusing fingers at eminent elder statesmen who have no connection with the ongoing investigative process. The Senator who was placed on house arrest at the weekend is expected to appear in court in less than 24 hours.

Chairman, Heirs Holdings, Mr. Tony Elumelu (left) and Oxford University Dean, Peter Tufano, after Elumelu delivered a speech on Africapitalism as a Catalyst for Africa's Development in Oxford...at the weekend.

Lamido, Azikiwe, Fasoranti set agenda for Buhari CONTINUED FROM PAGE 5

the loopholes that make corruption easy, the Executive Director of Policy and Legal Advocacy Centre (PLAC), Mr. Clement Nwankwo, said anti-graft institutions should be strengthened. “The incentive for people to be corrupt is that they get away with it. The system needs to enforce a mechanism that brings people to account for corruption,” he stated. According to Nwankwo, the new government must address the issue of the conference once and for all to end the debate that arises in every cycle of a new government. “The argument since 1999 is that the constitution is not derived from the people. We must answer that question for all time, which means the confab reports will be part of the resources, including the reform of the Seventh Assembly on the constitution to be fed into the final answer of producing a good constitution for Nigeria,” he said. For Nwankwo, the solu-

tion to unemployment is all tied to re-building infrastructure, adding: “the new government must increase the ability of the law enforcement agencies to carry out their role, recruit more policemen, equip and fund them adequately. But re-building infrastructure and creating employment would address significantly the huge chunk of the problem that security poses to the country.” On power and other infrastructure, Nwankwo said the President-elect must build and re-build the infrastructure. “The President-elect needs to go back to the drawing board and see what is hindering the generation of electricity and its distribution. He needs to go to the issue of resources of the country, whether it is resources generated from VAT (Value Added Tax) or income generated by government bodies and agencies or indeed from proceeds of crude oil and its export. “The whole business of awarding pipeline protection contract to militants is

completely absurd and yet, everyday, we are told that the country loses 400,000 barrels of oil to oil thieves. We think that the incoming government must go back to the issue. “The incoming government should also examine the issue of subsidy situation. At the moment, nobody is paying N87 for petrol. This country must re-examine the whole issue of subsidy and, in my view, we must scrap the scam called subsidy by first of all ensuring proper pricing of petroleum products and secondly ensuring whatever proper price is,” he added. In her contribution, Mrs. Azikiwe, said the President-elect should be wary of cabals that may want to fight him back. She said Buhari's avowal to fight corruption would come at a cost either to him or his administration. “They (corrupt officials) are so rich that they can fight any government to a standstill unless God intervenes and the new leader comes with a very

good strategy. It is said that if any leader comes in to fight corruption, they will just gang up and fight back,” she said. Tasking the incoming government to prune down cost of governance, the eminent Nigerians averred that allocating over 70 per cent of the budget to recurrent expenditure and 30 per cent to capital expenditure is inefficient for governance. Mrs. Azikiwe called on the President-elect to also make the recovery of stolen public funds a priority. “Buhari must retrieve the stolen money from those who have looted this country before cutting earnings and allowances. Let the President-elect, when he comes in, start by example. I don’t know why those in the National Assembly should be stronger than all of us. “How can they allocate what they want to themselves and they won’t tell us, yet, they want us to tighten our belt? It is unfair. Let him start by cutting down the number of aides,” she said.

News

Kunle Olayeni Abeokuta

ormer President Olusegun Obasanjo yesterday urged Nigerians to be patient with the incoming administration of Major General Muhammadu Buhari. Obasanjo said in Abeokuta when he hosted a delegation ofdelegation of South-West Women Leaders, led by Iyalode of Yorubaland, Mrs. Alaba Lawson, that having taken eight years to destroy Nigeria, redressing the situation would not take place in a day. Obasanjo said: "When I came in 1999, there was no fuel and power. The situation was like this and I thought we have put that one behind us. The man that is coming on board has a lot of experiences in terms of governance. "He is not a green horn. We have both worked together in administering, then as a military head of state and we did it well. Nigerians need to exercise patience because what has been destroyed in eight years cannot be re-built in a day. "Let's give him time, let's pray for him and let's cooperate with him. We are all concerned about the present situation of Nigeria. The expectation is very high but at the same time, there is a lot of goodwill internally and externally for the incoming government. "Once the incoming administration realises this and takes every step, particularly in the first three months, when people will be watching and counting, I think for me, we will get there."

It'll take time to rebuild Nigeria, says Obasanjo G

I'm leaving office with Jonathan — Rivers gov

Johnchuks Onuanyim Abuja

The former president said with Buhari at the helm of affairs, Nigerians would have a new opportunity. He, however, charged the president-elect to be honest and transparent in discharging his duties, saying the citizens have become clever and could not be deceived. He said: "God has provided a new opportunity for Nigeria and Nigerians and I believe God does not make mistake. One of the good things about the incoming president is that

he is not a green horn. "There are two things I believe the incoming president appreciates; one is that he knows that the expectations of Nigerians are high and that he should not be frightened by the situation on ground. "All he has to do is to be honest with Nigerians, he should not deceive them. He should not be an ostrich. He should not deceive Nigerians and not to be too clever with them. "There is a lot of goodwill for the incoming administration from within

and outside the country. What is important is that steps have to be taken that will not lead to the squandering of the goodwill and I believe the incoming government will be able to take care of that." The former president allayed the fears of Nigerians over the current state of the economy and urged the citizenry to exercise patience and allow the incoming administration to correct all anomalies. He said he believed in the political acumen of the president-elect

Abuja

here are indications that President-elect, General Muhammadu Buhari may appoint the outgoing Governor of Rivers State, Rotimi Amaechi, as the Petroleum Minister designate before May 29. The Organisation of Petroleum Exporting Countries (OPEC) which Nigeria currently chairs has scheduled a meeting to hold between June 3 and 5 at its headquarters in Vienna, Austria where all member countries’ oil ministers are expected to be present. The nation's current Minister of Petroleum, Diezani Alison-Madueke, who is the current OPEC chairman would not be eligible to chair the meeting with the exit of the Goodluck Jonathan-led administration on May 29. New Telegraph author-

in leading the country aright, urging Nigerians to cooperate with him. Earlier, Lawson, who led the delegation to Obasanjo's Hilltop mansion in Abeokuta, had in her remarks observed that the country was being threatened by corruption, insecurity, high crime rate, power failure and fuel scarcity. She likened the current situation to when Obasanjo took over in 1999, and how he succeeded in bringing the nation back from the brink.

L-R: Wife of the Vice-President-elect, Mrs. Dolapo Osinbajo; Vice-President-elect, Prof. Yemi Osinbajo; First Lady, Patience Jonathan and President Goodluck Jonathan, at the 2015 presidential thanksgiving service in Abuja …yesterday. PHOTO: TIMOTHY IKUOMENISAN

Buhari may appoint Amaechi Petroleum Minister-designate Yekeen Nurudeen

monday, may 25, 2015 NEW TELEGRAPH

national

itatively gathered that if the President-elect fails to appoint an oil minister designate, Nigeria will not chair the event and canvass for improved crude oil exportation quota for 2016. It was gathered that Buhari who is resting in London ahead of his inauguration is said to be under pressure to appoint a Petroleum Minister-designate whose name would be forwarded to OPEC as Nigerian representative at the forthcoming meeting. It was learnt that the President-elect is considering Amaechi for the job. Amaechi has been severally touted for different portfolios in the incoming government and some section of the South South are already rooting for him as the Petroleum Minister for the region to continue to be relevant having lost the presidency to the North in the last elections. According to a source, the governor was prom-

ised the portfolio when he succumbed to pressure from party leaders not to run as vice president to Buhari in the last elections. "Amaechi has been promised that Petroleum Ministry by APC leaders for him to drop his ambition to run as Buhari running mate in the election," said a party source who craved for anonymity. There are, however, those who are opposed to the choice of Amaechi for the post based on the fact that he does not have experience in the industry. Those who are in this camp are already canvassing for the return of former Minister of Petroleum during the first coming of Buhari as military Head of State, Prof. Tam David-West as the Minister of Petroleum-designate. They believed that David-West who is also from Rivers with his background and experience is

best suited for the job as against Amaechi who according to them might be new to the politics of international oil exportation and the current challenges facing the industry in the country. David-west is a professor of Virology and was a Minister of Petroleum and Energy in the Buhari administration. He also served as Minister of Mines, Power and Steel in the General Ibrahim Babangida military regime. But sources within the APC revealed that there are forces which prefer a Petroleum Minister from the North so that the region can consolidate its strong hold on power by controlling the source of the nation's major revenue earner. Whoever Buhari appoints as the oil ministerdesignate will have his name sent to the National Assembly when the 8th Assembly is convened.

overnor of Rivers State, Rotimi Amaechi, yesterday stated that against every odds, he is leaving office the same time with President Goodluck Jonathan. Amaechi, who made remarks of his stewardship after a documentary on his achievements, said it was believed in many quarters that he was not going to complete his tenure in office as governor. He gave an insight into why he had a sharp disagreement with President Goodluck Jonathan. He emphasised that at the time his disagreement with the Federal Government was at its peak, the Police, Military and other security agencies were reporting to the wife of the President, which made him fight such a system convinced it will not make Nigeria grow. He maintained that it was a period Nigeria should not go back to again, stressing that public officers should learn to lead by the rule, so as to avoid abuses as wives of incumbents, who were not elected and allowing them overstep their bounds naturally leads to abuse of office. Amaechi said that his achievements speak volume, adding that did all he did in Rivers State were not for self-glorification, but to bequeath a legacy for successive administrations in the state to sustain, but added that 90 per cent of the people who worked with him betrayed him.

Uwais, others seek improved strategies to curb insecurity Tunde Oyesina Abuja

former Chief Justice of Nigeria, Mohammed Uwais and some other elder statesmen have called on the Federal Government to adopt improved strategies in tackling insecurity which is prevalent in the country at the moment. Making the call alongside Uwais were Nigeria’s former Permanent Representative in the United Prof. Ibrahim Gambari and former Secretary to the Government of the Federation, Ambassador Babagana Kingibe. They, however, asked the government to evolve a new security architecture that can respond promptly and effectively in line with the security challenges of the 21st century. The call was contained in a communiqué issued by the elders, after a two-day

conference in Abuja with a theme, ‘Security and governance challenges in Africa’s largest democracy’, organised by the Savannah Centre for Diplomacy, Democracy and Development, under its Nigeria Beyond 2015 Project. The conference, however, stressed the need for the incoming government of the President-elect, Muhammadu Buhari, to reduce the size of governance by collapsing appropriate Ministries, Departments and Agencies and other institutions of government. The conference, which expressed dissatisfaction with the proliferation of institutions of state with overlapping functions, called for an urgent need for it to be addressed with a view to streamlining their functions, and also cutting the cost of governance as well as reducing unnecessary bureaucratic misunderstandings.

NEW TELEGRAPH monday, may 25, 2015

Chief Imam of Jos Central Mosque dies at 86 Musa Pam Jos

he Chief Imam of Jos Central Mosque, Sheikh Zakariyya Balarabe Dawud, yesterday died at the age of 86 at a Hospital in Dadin Kowa Jos. Sheikh Dawud was a graduate of Al Azhar University, Cairo and former Shari'a judge with the Plateau State Judiciary, and had retired in 1983. He became the chief Imam in the year 2009 having succeeded his predecessor Sheikh Sa'id Hammajan. The sheikh was the co-chairman of the Ulama/ Elders council which is the highest Islamic decisions making of the Muslims in Plateau State. He had also served in many peace committees in the state and was the state amirul hajj in the year 2013, member of the board of trustees for Jasawa Community Development Association. Confirming the death on behalf of the family his eldest male child, Abdul'alem Balarabe Dawud, an engineer, said the Imam had just died, after an operation that was successfully done three days ago

Akinwunmi Ambode

Group claims 37 APC senators support Lawan, Akume Temitope Ogunbanke

head of the battle for the Senate leadership, 37 All Progressives Congress (APC) senators under the aegis of ‘Senate Unity Forum’ have expressed support for Senators Ahmad Lawan and George Akume for the positions of Senate President and Deputy Senate President respectively.

The forum, in a statement signed by senators from four geo-political zones; South-West, NorthEast, North-Central and North-West, said they decided to back Lawan/ Akume candidature in the overall interest of the party and Nigeria. The statement was signed by Senators Robert Boroffice (South-West), Bukar Abba Ibrahim (North-East), Barnabas

Gemade (North-Central) and Abu Ibrahim (NorthWest). The statement reads in part: “After the caucusing, the members of the Unity Forum comprising of Senators from the North East, North Central, North West and South West reached a resolution to support the Senator Lawan Ahmad and Senator George Akume ticket for the Senate President and

Deputy Senate President respectively. “This collaboration is encompassing and accommodating of all the tendencies within the party in the overall interest of the party and Nigeria. Presently, about 37 Senators have agreed to the Lawan/Akume arrangement. We decided to disclose this to check the falsehood flying around. “What we are trying to

L-R: Mr Mascot Kalu; his wife, Adaeze; Group Managing Director SLOK Group, Mr. Firas Abboud and his wife, Angella, during Abboud’s birthday party, in Lagos, recently.

Lagos State Gov-elect Ambode releases official portrait T he Lagos State governor-elect, Mr. Akinwunmi Ambode, yesterday released his official portrait, saying that he would want to be addressed simply as Mr. Akinwunmi Ambode, the Governor of Lagos State. A statement by his media team said the governor-elect would not want the appellation of Executive or any other prefix to

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be added to his name. “He hereby puts it on record that from May 29, 2015, he wishes to be addressed as Mr. Akinwunmi Ambode, the Governor of Lagos State”, the statement said. The portrait that was produced by famous photographer, TY Bello, shows the governor-elect in a black suit with a white shirt and blue tie.

do is to make things easy for the party by putting the interest of Nigeria first. In the light of the above, we wish to state expressly that the effort to convince more senators to participate in the consensus building within our party is ongoing. We recognise the discretion of each Senator to vote any candidate. “We affirm the supremacy of the party while the interest of the country must be paramount. We cannot blame anyone for personal ambition but such ambition cannot be superior to the stability, credibility and cohesiveness of the National Assembly. Thus, we subscribe to the notion that we must work with and within our party, APC to resolve any contentious issue. “The alliance forged by Senators Lawan and Akume alongside other members offers the APC the best window of opportunity to resolve the issue of the Senate presidency and take to a higher standard from the legacy left by the 7th Senate of the Federal Republic.” The senators also debunked reports, especially in the social media that the issue of a primary election to pick the Senate President was tabled or agreed upon during the last APC Senators two-day retreat in Abuja.

APC Reps-elect Elumelu tasks business leaders on development retreat starts usinessman and phi- dation, stated this in a today B lanthropist, Tony closing keynote speech CNPP faults Elumelu, has called on titled,“Africapitalism as a Temitope Ogunbanke

he All Progressives Congress (APC) twoday retreat for all its House of Representatives member-elect will kick-start today in Abuja. APC in a statement issued in Abuja yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, said the retreat will hold at the Rockview Hotel Wuse 2 area of the Federal Capital Territory (FCT). The party urged the House of Representatives Members-elect to arrive at the venue where accommodation arrangement has been made for them, by 6 p.m. today, as there will be a Cocktail in honour of all memberselect and party leaders at 8p.m. “The two-day retreat is part of efforts being undertaken by the party to ensure that the legislators hit the ground running for the benefit of Nigerians,” APC said.

business leaders to make decisions that will increase economic and social wealth, and promote development in the communities and nations in which they operate. Elumelu, the Chairman of Heirs Holdings and the Founder of the Tony Elumelu Foun-

Catalyst for Development in Africa” delivered at the Oxford Africa Conference, Oxford University on Friday. Prof. Peter Tufano, the Dean of Oxford University's Said Business School, introduced Tony Elumelu to a packed audience at Oxford.

PTAD extends verification for 3,326 police pensioners Mojeed Alabi

he Pension Transitional Arrangement Directorate, PTAD, has scheduled between Monday, May 25 and June 1, 2015 to conduct a supplementary verification exercise for all unverified police pensioners who retired on or before June 2007. The affected pensioners are those who were said to have missed earlier nationwide verification exercise concluded in March 2015.

The supplementary exercise, according PTAD, is coming on the heels of post verification analysis conducted by the organisation, which revealed that 3,326 police pensioners on its payroll did not turn up to be captured. This, it stated, has prompted the removal of the names of the unverified police pensioners from its payroll and payment of their pensions suspended as from May 1, 2015 pending the outcome of the supplementary exercise.

Sambo on PHCN unbundling Johnchuks Onuanyim Abuja

onference of Nigerian Political Parties (CNPP), yesterday faulted the claim by the Vice President, Arc. Namadi Sambo that the unbundling of the Power Holding Company of Nigeria (PHCN) was successful. The CNPP in a statement from its National Publicity Secretary, Mr. Osita Okechukwu, stated that the records of the unbundling of PHCN shows that one and half years after Federal Government privatized the unbundled assets of the PHCN, the successor companies have not fared better nor have they delivered service. It said that was the reason for the opaque nature of the privatisation process, which facilitated the Distribution Companies and Generating Companies ending up in wrong hands.

MONDAY,MAY 25, 2015 NEW TELEGRAPH

Metro

I’ve repented before my arrest –Suspect REFORMED SUSPECT A robbery suspect, arrested while smoking India hemp, says he is a repented criminal Babatope Okeowo Akure

suspected armed robber, Banji Adedayo, claimed that he had repented from armed robbery before he was arrested by the police in Ondo State. The suspect said he was arrested for an offence he committed some years back. Adedayo was one of the prisoners who escaped from prison during the jail break in Ado-Ekiti prison. He, however, told our correspondent that he was arrested while smoking Indian hemp at the back of his house in Akure, the state capital. The suspect, who was arrested with another escapee, Tope Daramola, said since he escaped from prison, he had been living a low profile life. According to him, he had become a commercial motorcyclist before he was picked by the police for armed robbery. But Daramola, who confessed to the crime of armed robbery, said he would not engage in such act once the police release him. He said he was tired of being taken in and out of police cells and prisons. The state Police Commissioner, Mr Isaac Eke, paraded the two men alongside 28 other suspected criminals. Eke said the suspects engaged the police in shootout before they were arrested. The commissioner added that the leader of the police

investigation team, Inspector Titus Olorunsola, was shot in the leg during the encounter. Eke said on March 12, a case of armed robbery was reported where Temidayo Komolafe living around Living Faith Church, Ondo Road, reported that a gang of robbers numbering about five, armed with guns and other dangerous weapons, robbed him of his Toyota Sienna bus, five assorted mobile phones and other valuables. The police chief said the men of the State Anti-Robbery Squad (SARS) swung into action, adding that the forensic analysis carried on the phone led to the arrest of Daramola, Adedayo and Segun Akinseye. He said efforts were on to arrest other fleeing suspects. According to him, three of them confessed to the crime and said they had engaged in robbery cases including Ekiti bank robbery and were prison inmates before they escaped from custody. Eke said the suspects had also engaged in order robberies since they escaped from custody, including the robbery at Igbara-Oke, where a handset dealer was robbed. However, Oluwafemi Olowoporoku, said to be one of those who attacked a police station in Owo and killed seven policemen, denied the allegation. Olowoporoku said he was a brother to a policeman, Olayemi Ajiroba, who was killed during the Owo robbery incident. He added that Ajiroba’s fiancée abroad asked him to send the picture of his late brother. But Eke said that Olowoporoku was one of those who attacked the police station. He also accused the suspect of using the information in the late policeman’s phone to obtain money from his girlfriend abroad.

Olowoporoku

Man hangs self near Lagos secretariat Muritala Ayinla

otorists and passers-by around Seven Up area, Alausa, Lagos yesterday morning watched in consternation as the lifeless body of a young man was dangling on a tree. The body of the man, whose identity could not be ascertained at press time, was discovered about 7:30am by the residents who in turn alerted the emergency responders. The man reportedly hanged

himself with his belt. It was learnt that passers-by invited the Lagos State Emergency Management Agency (LASEMA) and the Lagos State Fire Service. Confirming the incident, LASEMA General Manager, Dr Femi Oke-Osanyintolu, said the body of the man, who according to him, was in his thirties, was found dangling on a tree on Governor Road, Alausa, Ikeja. He said: “A middle-aged man found hanged himself to a tree by 7up/Governor Road, Alausa,

Ikeja. The body was recovered by LASEMA and handed to the police at Alausa Police Station.” The Director of the Lagos State Fire Service, Mr Rasak Fadipe, corroborated Oke-Osanyintolu’s views on the incident. “The body of the young man was found dangling on the tree on Governor/Seven UP Road. Nobody knows why such boy could kill himself. We cannot say whether he was hanged by unknown person or he actually committed suicide.”

Murder: Family petitions IG over case file mutilation Juliana Francis

T ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

he family of an Abuja-based businessman has petitioned the Inspector General of Police, Mr Solomon Arase, over the discovery that some pages of the case file that has a suspect’s confessional statements had disappeared. The businessman, Mr Tony Eze, was murdered on Novem-

ber 6, 2014 at Tungamaje on the outskirts of the Federal Capital Territory (FCT), Abuja. Six suspects were later arrested in connection with Eze’s murder. According to Eze’s family lawyer, Mr Kaster Elisa, the case suddenly went awry after it was discovered that some pages in case file had disappeared. He added that one of the policemen was a

friend of one of the suspects. Elisa described the situation as a perversion of justice. In a petition to the IG, Elisa explained that after the death of the businessman, the InspectorGeneral of Police Special Task Force on Heinous Crime, Garki 11, Abuja, carried out investigation leading to the arrest of the six suspects identified as Anayo Eze, Idris Shaibu alias Calamity,

Okechukwu Nelson alias Barrack, Emmanuel Igwe, Samuel Okoro and Augustine Nwamba alias Jangaza. The petition reads in part: “It is with regrets that five months after the death of Eze, the matter was formally charged to the High Court of FCT, 2, but with notable shortcomings and lapses both in the investigations and prosecution respectively…

Metro 11

NEW TELEGRAPH MONDAY,MAY 25, 2015

CCTV exposes two friends in car theft Taiwo Jimoh

olice in Lagos State have arrested 54-year-old Alhaji Ramon Adeleke and his friend, Lukmon Soyoye, 48, for allegedly stealing a vehicle and selling it at Ile Epo area. Our correspondent learnt that Adeleke and Soyoye 48 were picked up by the CCTV footage in front of the hotel on Allen Avenue, Ikeja, where the theft reportedly took place. It was gathered that the duo, after the theft, allegedly resold the car, a Toyota Corolla, at Ile Epo area for N400,000. The matter was said to have been reported by the owner of the vehicle to the Area ‘F’ Command, Ikeja. The case was thereafter transferred to the State Special Anti-Robbery Squad (SARS). It was gathered that with the help of the CCTV footage which identified the faces of the suspects, Adeleke and Soyoye were arrested on April 19. It was also learnt that the po-

lice had recovered the stolen vehicle and the operational vehicle used by the suspects. Adeleke, an indigene of Osun State, who confessed to the crime, said he was entering the mosque for the evening prayer when the police arrested him. He said: “It was in November last year that we both went to Allen Avenue. We checked into a restaurant around 7pm and we drank into the night. Around 2am, we both entered the vehicle I brought and left. “We saw the vehicle parked in front of the hotel and everywhere was empty. So, I forced the door open and we stole it. I drove the stolen car, while Lukman (Soyoye) drove the car we brought. Also, Soyoye, an indigene of Abeokuta, Ogun State, said Adeleke had lied to him that they were going to Allen Avenue to meet someone who owed him (Adeleke) some money and refused to pay back. Soyoye, a father of six, said he was given N80,000 after the car

was sold. He said: “I am an aluminium fabricator and I stayed in the Ifelodun, Dopemu area of Lagos. I met Alhaji (Adeleke) sometime last year. I used to change the glass of his bus; that was how we met. He called me on the phone that fateful day to say one of his friends owed him and he was going to forcibly collect his money. “We were at the hotel where we drank till dawn. It was at the point of forcibly opening the vehicle that I realised that we were stealing a car. I was the one who drove the car we brought. “I was given N80,000 after the car was sold. I did not know when he sold it. He brought the money to Dopemu ‘under bridge’. I used the money to pay my children’s school fees. It was a week after Alhaji was arrested that I was caught too.” A police source said that Adeleke had also been charged for a similar car theft offence before the police arrested him for the Allen Avenue robbery.

Two arraigned for breaking Customs’ seal Taiwo Jimoh

he Federal Operations Unit (FOU), Ikeja Zone of the Nigeria Customs Service (NCS) has arraigned one Lebanese and a Nigerian for breaking Customs’ seal placed on five vehicles over clearing discrepancies. The unit Public Relations Officer (PRO), Mr Tuche Ejesieme, said the accused, Fares Chawich and Emmanuel Ekong, were charged to a Federal High Court sitting in Ikeja for tampering with the Customs’ seal placed on five vehicles kept on their premises for clearing discrepancies. The accused, according to him, face a five-count charge bordering on intent to defraud the Federal Government of unpaid duty totalling about two N262,964,169. Ejesieme, who quoted the Comptroller, Mr Turaki Adamu, in a statement made available to our correspondent yesterday, said that the FOU was compelled to expediently charge the accused to court following the illegal act of breaking Customs’ seal in violation of Section 145(5)

Some of the vehicles

of the Customs and Excise Management Act Cap C45 Laws of the Federal Republic of Nigeria 2004. The comptroller, according to the PRO, noted that the discovery of the exotic vehicles parked on the premises of the accused in Ikeja GRA were grossly undervalued in clear violation of the Federal Government import policy. The vehicles recovered from the accused were Brabus G800 Model 2013 with chassis number 212718, Maybach 625 Model 2009 with chassis number 002513,

Mclaren SLR model 2009 with chassis number 001960, and Aston Martin Model 2009 with chassis number 815026. He said: “The unit had written a letter to the accused following information that the vehicles did not comply with standard import procedures. “In line with service procedure and in our quest to recover appropriate duty accruable to the vehicles, the unit placed them on Customs’ seal after raising a detention notice which the accused who stood as surety had undertaken to pay.”

Adeleke and Soyoye

Bring development to Badagry, group begs Ambode Temitope Ogunbanke

he Old Students Alliance-Badagry (OSAB), the umbrella body of alumni students of secondary schools in Badagry Division in the 80s, has called on the incoming administration of Mr Akinwumi Ambode, to develop the division. In a statement, the President of the association, Mr Felix Sadare and Secretary, Otunba Yomi Olomofe, urged the incoming administration to devote attention to Badagry with a view to harnessing its largely untapped resources (human and material). The body also urged Ambode to ensure the completion of a number of ongoing infrastructural projects and the initiation of new ones. It stated that Badagry Division, until now, remained largely marginalised in the scheme of things in the state and at the centre. OSAB, therefore, urged the incoming government to open up the ancient historic town to the world as a veritable global maritime and tourism destination. The statement reads in part: “The state internally generated revenue profile will enjoy significant upward boost if the Badagry corridor is opened up to international maritime commercial activity and tourism.”

Benue demolishes APC chieftain’s college building Cephas Iorhemen Makurdi

The demolished building

enue State Urban Development Board at the weekend demolished a multi-million naira block of office at the College of Health Technology complex in Otukpo Local Government Area. The college belongs to a chieftain of the All Progressives Congress (APC), Dr. Augustine Idoga.

The board officials claimed the building was standing on an access road which, according to them, is against the town planning laws. Speaking on the development, Idoga expressed worry over the action of the board which he said came to him as a rude shock. The proprietor of the college said the structure was not built on any access road as claimed by

the board officials, adding that the authorities of the college were not given any prior notice before the demolition. He said: “The demolition exercise came as a rude shock to me as there was no prior notice given to the school authorities from the board. They just stormed the college and started demolishing the building which was fully completed and awaiting occupation.”

City Briefs

‘Parents must pay attention to their children’ Muritala Ayinla

orried by the upsurge in abduction of children, the Chairman of the Lagos State Secretariat Mosque, Mr Lawal Pedro, has called on parents to always pay special assistant to their children. Pedro said it was unfortunate that children are no longer safe at home and in places of worship, saying that people must pay attention to what goes on around them. Pedro, who is also the state solicitorgeneral, spoke at Special Children’s Day organised by the Lagos State Secretariat Mosque, Alausa. According to him, parenting does not end in inculcating moral values in the children but it also includes ensuring that the children are safe at all the times. The chairman said the time had come for the parents to go back to the basis and teach their wards the values in the scripture. He said: “The way out of kidnapping of children is that we must go back to our values. We all know that the good values emanated from the scripture.”

Rainstorm destroys houses, others in Adamawa Ibrahim Abdul Yola

eavy rainfall in parts of Adamawa State has wreaked havoc on Ngurore town in Yola South Local Government Area. The residents of Ngurore said the rain which, started was accompanied by windstorm, destroyed over 30 houses and property worth millions of naira. Ngurore, about 20 kilometers from Yola, the state capital, is known for its commercial activities especially cattle and foodstuff businesses which bring traders and shoppers from all parts of the country, including neighbouring African countries on every Wednesday, the official market day of the town. A resident, Mr Bello Ma’aji, whose property was destroyed by the rain, called on the state government and wealthy individuals to come to their aid. According to him, Ngurore needs a well-constructed drainage system where rainwater would have access. Ma’aji said most of those affected had been rendered homeless. He said: “Most of us are homeless and the rain is just starting.”

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monday, may 25, 2015 NEW TELEGRAPH

States got N2.92tn in four years from ECA — Okonjo-Iweala Abdulwahab Isa Abuja

side their monthly statutory allocation from federation account, the 36 states received a total of N2.92 trillion from the Excess Crude Account (ECA) between 2011 and 2014 with Akwa-Ibom, Rivers, Lagos, Bayelsa Delta and Kano as states that got highest ECA allocation. Federal government's share from the ECA during the period stood N3.29 trillion. Figures made available by Ministry of Finance yesterday showed that the states received N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 in 2014. According to the figure breakdown, Akwa Ibom got (N265 billion), Rivers (N230.4 billion), Delta (N216.7 billion), Bayelsa (N176.3 billion), Kano (N106.5 billion) and Lagos (N82.9 billion) respectively. The low figure for 2014

Calabar Int’l Convention Centre, best in Africa — Project Coordinator

he Project Coordinator of the Calabar International Convention Centre (CICC), Mr. Reginald Longdon, has described the centre as the best in Africa, just as he commended the vision of the state governor, Senator Liyel Imoke, for establishing what he called a one-stop conference centre in the state. Mr. Longdon maintained that the concept was not about the building, but about the long time vision of Governor Imoke to construct an iconic edifice that will serve as a catalyst to drive the tourism offering of the state government. He said as well as open up potentials, it will aslo escalate footfalls into the Tinapa Business Resort. Speaking ahead of its unveiling today May 25, the Project Coordinator said no conference centre in the whole of Africa comes close to the Calabar International Convention Centre, in terms of facilities, aesthetics and ambience. Already, 12 bookings from both local and international organisers out of 20 are said to have been confirmed ahead of its unveiling.

reflects the steep decline in revenue due to the impact of the crash in global oil prices which began in the middle of the year, the ministry clarified. States in the cat-

egory of least received ECA allocation include, Kwara (N52.8 billion), Enugu (N51.6 billion), Gombe (N47.7 billion), Nassarawa (N46.9 billion), Ekiti (N46.8 bil-

lion) and Ebonyi (N44.3 billion). Highlights on ECA account inflows and outflows shows that the opening balance was $4.56 billion in 2011 and

reached a peak the following year at $8.7 billion before declining to $2.3 billion in 2013. The balance as at May 2015 is $2.07 billion. The ministry ex-

Former Vice-President and APC chieftain, Atiku Abubakar (left), exchanging pleasantries with Senator Bokola Saraki, during the visit of Senators and Senators-elect to Atiku in Abuja …yesterday.

Abdulwahab Isa ABUJA

arely three weeks after pulling through a major protest by interns on its scheme, workers of Industrial Training Fund (ITF) is set for showdown with the management over planned diversion of N120 million to prosecute staff redeployment, New Telegraph exclusively gathered. ITF management, insider sources told New Telegraph, has finalised

ITF, unions bicker over N120m

arrangement for deployment of 197 staffers of the Fund and the sum of N120 million is earmarked as relocation and other allowances for the affected staff. The staff of the Fund under the auspices of Senior Staff Association of Communication, Transport and Corporations (SSATAC) and Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees (AUPCTRE)

frowned against management's move regarding it as financial reckless clearly out of tune with the present economic repression facing the organisation and the country in general. Both unions of the organisation, our sources said, expressed resentments against management’s decision in a strong worded memo addressed to both the Director-General of ITF, Mrs. Juliet Chukas Onaeko and ITF board

council Chairman, Hon. Fariu Arebi. They are miffed that a management that is unable to liquidate outstanding staff pension liability in sum of N240 million, unable to pay ITF interns their approved stipends, and unable to equip skills centres across the country, will attempt to divert scarce resources that ought to be channelled to fixing ITF deplorable training skills centres into frivolous

plained that the fluctuation in the ECA reflects the sharing of the proceeds usually requested by state governors as well as the practice of augmentation which involves additional sharing from the ECA when available funds are not adequate to meet revenue projections. Subsidy and SURE-P payments are also made from the Excess Crude Account. The ministry in a statement issued yesterday by Special Adviser on media to Coordinating Minister of Economy and Minister of Finance, Paul Nwabiuku, said the ministry made information on ECA available to the public in fulfilment of the pledge by the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala to make public details of the Excess Crude Account to clarify issues thrown up by recent claims made by Governor Rotimi Amaechi of Rivers State on behalf of some governors. exercise. A copy of the union's memo addressed to the DG and board chairman dated 18th May and signed respectively by President of SSATAC comrade Abdul Ali and Chairman AUPCTRE, Ishaya Audu, exclusively obtained by New Telegraph over the weekend read in parts: “The union is seriously worried on the timeliness of this action, its financial implication to the Fund and the insensitivity of DG and management to the plight of the system."

APC: Jonathan handing over nation in crisis lStop inventing excuses for failure, says outgoing ruling party Johnchuks Onuanyim and Onyekachi Eze Abuja

he All Progressives Congress (APC) and the Peoples Democratic Party (PDP) yesterday traded barbs over the state of the nation. APC, the incoming ruling party, fired the first salvo when it accused outgoing President Goodluck Jonathan of plunging the nation into an energy crisis as he bows out on Friday. The party, which had earlier alleged that the outgoing administration would be leaving a debt of $60 billion to the incoming government, said beyond the debt, the economy had been grounded as the

power sector and the oil sector were not working. The party also predicted the collapse of the telecom sector if the on-going fuel scarcity persists. In a statement in Abuja by its National Publicity Secretary, Alhaji Lai Mohammed, APC, however, urged Nigerians not to lose hope despite the daunting challenges they are currently facing. ''In a few days' time, President Jonathan will hand over to Presidentelect Muhammadu Buhari. Never in the history of our country has any government handed over to another a more distressed country: no electricity, no fuel, workers are on strike, billions are owed to state and federal workers, $60 billion are

owed in national debt and the economy is virtually grounded. ''Today, Nigerians are roaming the streets, jerry cans in hand, searching for everything from kerosene to fuel to diesel to power their homes, keep their vehicles on the road and keep their businesses going. They are paying as much as N300 per litre for fuel, if at all they can get it. Yet, their government is not saying a word about the situation,'' the party said. According to the APC, while the Jonathan administration has told Nigerians that it remains in office till May 29, all it has been doing is sacking people and making new appointments. ''They say they are

in office till May 29, but they do not care how workers in 18 states, who are owed a total of N300 billion in salaries under their watch, or federal workers who are owed N400 billion will be paid. Yet they are running a budget of N1 trillion deficit,'' the party stated. Notwithstanding its caution, the PDP told APC to stop lamenting about the state of the nation and brace up for the challenges ahead. It warned the party to stop giving excuses for what might amount to its failure in the days ahead. According to the outgoing ruling party, the APC has started showing signs that it lacks capacity to face the challenges of governance.

The party, in a statement by its National Publicity Secretary, Mr. Olisa Metuh, said: "Instead of settling down for governance and working out how to fulfill its promises of making the naira the same in value with the dollar; paying N5,000 monthly to 25 million poor Nigerians, providing electricity on 24/7 basis, providing free meals for schoolchildren and allowances for discharged, but unemployed youth corps members, among others, the APC is busy inventing excuses for failure and blaming everyone else, but themselves. We hope they will not blame the PDP for their Saturday’s embarrassing outing at 10, Downing Street."

NEW TELEGRAPH MONDAY, MAY 25, 2015

Corruption

Interview

National Conference President must respect confab resolutions, says Lamido

Buhari must embark on system overhaul – Nwankwo

Azikiwe: Cost of governance must be reduced

Buhari should spare nobody in fighting corruption – Fasoranti

Agenda

Politics Although President-elect, General Muhammadu Buhari, will confront a lot of problems when he assumes office on May 29, former governor of old Kaduna State, Alhaji Abdulkadir Balarabe Musa, argues that insecurity, unemployment, erratic power supply, malfunctioning refineries and huge cost of governance amongst others, will be substantially solved if the new leader tackles their root cause which is corruption. IBRAHEEM MUSA reports

On May 29, a new government will be sworn in. What do you advise that General Muhammadu Buhari should focus on when he assumes office? I will start with the issue which is the root of the negative state of the nation. Once you can solve the issue of corruption, most other problems will have been substantially solved. Under the present socio-economic and political system, which controls all development in Nigeria and the political leadership inevitably produced by the system, is based on self-interest first and public interest second or incidental. The survival of every Nigerian inevitably depends on some unearned income, directly or indirectly, whether he knows it or not. For this reason, the type of anti-corruption measures that the president should take must be well thought out, supported by a tested and patriotic class of Nigerians. They should aim at sustaining Nigeria without the risk of rocking the boat. The most critical support

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

Buhari must tackle corruption – Balarabe

start from? From 1999, when this republic started or from the Jonathan administration? Even if it means from during the colonial times, it should be done. There is still evidence of it. As long as this issue is still at the root of the problem of the country, it should be dealt with; there should be no time limit. It depends on its magnitude, relevance and evidence available. But the President-elect said that all cases that are in court, involving corruption will continue even when he draws the line. Even the cases that are not in court, but if there is evidence of corruption against a person, he should be investigated and prosecuted. So, the question of drawing the line should not arise at all.

Balarabe

should come from, in particular, the political establishment, the military, security services, the legal profession, the media and youth organisations. Is it correct to say that what you have just proposed is like passing a vote of no confidence on the present war against corruption? I have always been critical of the war against corruption in this country because it has been elitist and dishonest. For example, we have anti-corruption agencies like the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC). When you take into account the continuation and high level of corruption, stealing and criminal waste of resources, you will doubt if these institutions are doing anything. In fact, for the past two years, I have been advocating that these anti-corruption agencies may have been turned into means of destroying credible evidence against corrupt public

If you have a corruptionfree society, these negative tendencies will not exist at a threatening level

officials, to such an extent that the government that is willing to fight corruption will be unable to have evidence to prosecute the thieves in this country. I was very much disturbed when I heard that the President-elect, on matters of corruption, stealing and criminal waste of resources, said that he will draw a line. In other words, from the day he assumed duty as president of Nigeria, what concerns him will be the corruption that will take place after he has been sworn in. He will ignore all that transpired before. Now, this is not helpful to him and the nation because it means corrupt people will be free to continue. It is necessary that these thieves should be disempowered. I think he made that statement because if he focuses on fighting corruption alone, it will means that there will be no time to execute any meaningful project because the issue will be time consuming and distracting. But where do you want Buhari to

This fight against corruption that you want the President-elect to wage when he assumes power can only happen in a peaceful and secure environment. How do you thinked Buhari should fight against the general insecurity in the country? As I told you, let him start with the war against corruption. Corruption is at the root of every negative state of the nation. Whether you call it insecurity, poverty or unemployment. If you have a corruption-free society, these negative tendencies will not exist at a threatening level. Although the last election was generally seen as free and fair, there are still areas of improvement. In which areas do you think that the president should focus on while embarking on electoral reform, if he chooses to do so? In the first place, Nigerians have been referring to every election as free, or fair or tolerable. This is because Nigerians have a very low standard of public conduct. How can you have free, fair and transparent elections leading to a legitimate government when money power plays a decisive role in politics and elections in Nigeria? There cannot be free and fair elections under this circumstance. However, it is better to have an election than not have one at all. For instance, whatever the misgivings, the fact that we had the 2015 CONTINUED ON PAGE 16

Politics

Prof. Uche Azikiwe is the widow of the late first President of Nigeria, Dr. Nnamdi Azikiwe. In this interview with UWAKWE ABUGU, she speaks on the enormous challenges that would confront the in-coming administration of Gen. Muhammad Buhari. She insists that to succeed, the President-elect must give a new definition to NigeriaExcerpts: What do you expect from the incoming administration of General Muhammadu Buhari? Let me first of all start by congratulating the President-elect for his victory at the election. I called him to congratulate him but somebody picked the call and said he wasn’t available. So, I hope through this interview, my congratulatory message will get to him. As Nigerians, we all look forward to the change he promised and I hope it comes soon. Nigeria’s problems are enormous and it is an accumulation of years of neglecting a lot of things. But fortunately, the President-elect is coming in with the mantra of ‘change’ and people’s expectations are very high. There is no aspect of life in Nigeria that one would say is fine. To me, morally, nobody cares about name. When we were growing up, our parents would tell us ‘good name is better than silver and gold.’ We might not have enough, but we never did anything that will damage the name. But nowadays in Nigeria, morals and values don’t matter again. The fault is not that of this present g e n e r at i o n but from

Azikiwe

MONDAY, MAY 25, 2015 NEW TELEGRAPH

Azikiwe: Cost of governance must be reduced

that person who tells him the roads are good. Let him find someone else in Enugu, Nsukka, Bayelsa and ask him to cross-check the information they gave to him. From there, he will know the real situation on ground. The important thing for a leader is to have people who will help you because you can’t be everywhere. So, it is the people around him that will feed him back with what is to be done or the problems at hand. So, we want a new definition of Nigeria. Let us give our youths a chance to come in and see whether some of these things that our past leaders laid on ground don’t fit in and whether the young ones can change the situation.

us; the older ones, because that is not the way our parents brought us up. I don’t know whether the present parents are doing the same thing with our own children. I want the President-elect if he comes on board on May 29, to sit down and bring people who have the interest of Nigeria at heart as close aides because that is where the problem starts for our leaders when they surround themselves with people who would not tell them the truth. Also, let him not listen to everything people say. Let him find a way of finding out the truth by himself. If an aide says all the roads in Nigeria are good, he should find a way of proving that all the roads in Nigeria are in good shape in reality. You are talking about monitoring; how do you want him to monitor his government’s performance? Yes, but monitoring not through

He must retrieve the stolen money from those who have looted this country before cutting earnings and allowances

How do you think the Buhari administration can tackle corruption? I don’t know where to start. This is like a hydra-headed monster. But he has to start somewhere, and from what I read in the newspapers, the handful of leaders who have milked Nigeria to the marrow, are so rich that they can fight any government to a standstill unless God intervenes and the new leader comes with a very good strategy. It is said that if any leader comes in to fight corruption, they will just gang up and fight back. Evil cannot allow itself to be decimated but it goes on to fight back. So, there are many ways to do it but nobody knows which one is the best on how to start tackling corruption. Should Buhari administration start from the cost of governance? I think that will be a very good example that will send the message across. He must retrieve the stolen money from those who have looted this country before cutting earnings and allowances. Let the President-elect, when he comes in, start by example. I don’t know why those in the National Assembly should be stronger than all of us. How can they allocate what they want to themselves and they want us to tighten our belt? It is unfair. Let him start by cutting down the number of aides. If the constitution says each state should produce a minister, let us end at each state producing a minister; that is 36 ministers. No minister of state, no additional this and that, no Special Advisers/Assistants (SAs) and Personal Assistants (PAs) and let’s see whether their salaries and allowances cannot put up a secondary school or hospital or even buy equipment for our schools. You mean one minister per state? Yes, one minister per state because that’s what the constitution says. If not, one would have loved having lesser ministers. There is no

need for minister of state. What do they do? How can you have two ministers for a ministry? I read from Oronsaye’s report that some ministries should be collapsed to form one. So, you want part of Oronsaye’s report implemented? Yes, part of it should be implemented; reduce the number of parastatals. There are some parastatals that duplicate, overlap or encroach into what they do. You see those in charge struggling and in the end they do nothing. So, I don’t know where the Presidentelect should start from when he comes in, but I think he has to start somewhere. Let him start from within by cutting down on the cost of governance? Starting from within, what do you mean? That is, reducing their PAs, SAs and ministers. There are three arms of government. If the executive starts, then the legislature will come in and I know from my readings that the judiciary is not well funded. So, let us see what we can gain from cutting down on this cost of governance in the executive and then the legislature. That is what I mean by starting from within to start the process of defining Nigeria afresh. In terms of salvaging broken down infrastructure in Nigeria, what area do you think should be the priority? I think it is education. I am a teacher and I shudder at the environment where our children learn and in the end when they leave this shore to other countries, they excel and I keep marvelling how did they do it? It goes on to tell me that if Nigeria equips our educational system, our children will excel in any profession or career. Let us equip our educational system from primary, secondary and tertiary with good classrooms and hostels. Our children don’t enjoy that independence when you live on your own in the university or secondary school. Few secondary schools have dormitories. That was where we learnt how to be independent; how to make your bed when you wake up, wash your dresses and then obey laws and school regulations. But now most students come from home and in mission schools, majority are still day students. Let us do something. Even as day students, let them have all the equipment needed for effective teaching and learning. If I am talking about my state and Nsukka, it is because that is where I live. Nsukka in Enugu State is my home. I don’t know if this power problem is the same in all other states, but I am not happy at all with the power situation. I know the Power Holding Company of Nigeria (PHCN) has been privatised but we are not enjoying anything about power in Nsukka. In Onuiyi, where I reside, my generator is always on and if we had cheap diesel one wouldn’t be complaining. We buy at N150 a litre and for three hours, you know how many litres you have spent to give yourself three-hour light in a day. On the issue of infrastructure in Enugu State, I think the outgoing Governor Sullivan Chime did a lot on roads. So, one would expect the governor-elect to focus on other areas not covered by Governor Chime.

Politics

NEW TELEGRAPH MONDAY, MAY 25, 2015

Leader of the Pan Yoruba socio-political group, Afenifere, Pa Reuben Fasoranti, sets agenda for the incoming government of General Muhammadu Buhari on economy, unemployment, international relations and other sectors. Fasoranti, 89, speaks with BABATOPE OKEOWO. Excerpts:

Buhari should spare nobody in fighting corruption – Fasoranti when you go around, the place is overgrown with bush. What I am saying is that agriculture should be emphasised. By doing that more people will be employed, more food would be produced and there will be self-determination and people will feel happy. At the moment, the countryside has been deserted. If I go to my father’s farm, most of the farms have been abandoned; we should go back and make money from farm produce. By so doing, people will have satisfaction and would feel fulfilled. At the moment, people stream to the cities where the infrastructures are overstretched. For instance, electricity and water are overstretched when people crowd in the cities. I go round sometimes, I feel very bad, people are just roaming about because they don’t have anything to do in the cities. They should go back to the countryside where life is more pleasant, more fulfilling. Government should develop a deliberate policy of reorienting the people. In the past, agriculture was on the pedestal, but at the moment they have deserted the countryside roaming about the whole place. I feel very sad, especially for those of us who grew up in the countryside.

On May 29, General Muhammadu Buhari will be sworn in as president, what do you expect from him? We expect that he will cater for everybody; there will not be preference for any section of the country. But our problems at the moment are very many. One of them is unemployment of youths, people leaving schools and having no job to do. We are feeling the heat especially those of us who have something to eat, they come to us in form of pressure asking for money, asking for favours and there is nowhere to turn to. Buhari has to address the issue of unemployment very urgently. He also need to address frontally the issues of internal security; kidnapping, insurgency, armed robbery and so on. What about the report of the 2014 National Conference that the Afenifere has been clamouring for its implementation? We supported President Goodluck Jonathan on the premise that he would implement the National Conference held last year. He (Buhari) has to look at the conference report and implement those things that will make Nigeria a great country; a country that can move forward and have some hope. We want things like regional police, regional autonomy and internal democracy like it used to be in the Second Republic. In other words, each region must be allowed to plan for itself. There should be selfdetermination; each region must be able to plan on mineral resources available in their environment. Are we talking of regions now or states as Nigeria is presently constituted? We talk of state but the confab was talking of six geo-political regions and within the regions, we have states which have common agenda. If this can be galvanised, then we will move forward because we defer from place to place. At the moment, we have a quasi unitary government which should not be, but whatever is good for us in this area, we should continue to do it. In the time of Papa Obafemi Awolowo, the West was capitalising on cocoa and with that he was able to build the Cocoa House in Ibadan. In the East, palm oil was on the pedestal and in the North, groundnut. These have been neglected and people are just looking forward to going to Abuja to collect monthly allocation. It is not good and that is the reason we are not moving forward. How do you want the issue of

Fasoranti

unemployment to be tackled by the incoming administration? The incoming government should consult other countries like those in Asia which came from nothing and rose to be one of the foremost industrialised countries in the world. We are talking about the Asian Tigers like Singapore. They should copy and learn from other countries which have done it. We are very complacent; we are still using the old system without developing a new system. We should consult other countries, understudy South-East Asia. How do you think General Buhari should tackle the issue of corruption that has pervaded the country now? He should do this by laying personal example. What I mean is that he must curb excesses, extravagancy that are on the rise now. People are not prepared to work; people are cutting corners. He should still consult other countries, copy them. There should not be sacred cows in tackling corruption. Whoever is guilty should be punished. There are too many sacred cows now. It does not matter how highly placed you are, if you are found to be a corrupt person, the law should take its normal course. Otherwise, we shall continue to wallow in this mess. He has to be very firm. He used to be a very firm person when he was military Head of State although he did it too much, very much in excess. People like us did not commit any crime but were put in detention for 21 months. What I am saying is that whoever is found to be corrupt should be punished. There should not be sacred cows

at all. There are many people in government now who should go to jail but who are being pampered. Once that is done, the thing will continue.

There should not be sacred cows in tackling corruption. Whoever is guilty should be punished

What about the size of government? How do you suggest the size should be like? He should trim the size of government. The number of ministers is too much and if they get more responsibilities, they work harder and be on their toes. The way they are, their life is too free, and it is not good for us in this country at all. What I think is for him to buckle up, show example by his own way of living and others will copy from him. What about the infrastructural decay, how should it be handled? He should face it frontally; Jonathan was already starting this like the Lagos-Ibadan expressway, introduction of railway which people felt was not going to happen. He should continue with these and then the East-West road. One of the recommendations of the confab is that the regions should be able to embark on railway system and make transportation much easier. I think he should continue with that. What are those things that the incoming administration should do to firm up the Naira and shore up the economy? Agriculture should be emphasised. When I go to my father’s farm now, I feel very sad. In the past, when we were young, the countryside was bubbling with different activities. These days

What about the education sector; what should the incoming administration do to revamp the education sector? Education should be more practicalised; there is so much theory. I was watching a programme recently and I saw that the governor of Katsina State, Ibrahim Shema, has done so well in practicalising on craft, small scale industry and employing the youth to do that. They are feeling fulfilled. Some of them were commending the efforts and I think other governors should be able to copy that so that when they come out of school, they will be employable as they must have graduated with some skills. I am suggesting that the policy on education should be more practical oriented, bring craft into the curriculum. Already something is being done in our schools to teach tailoring and animal husbandry. But they should be more emphasised so that people will turn back and forget this white collar jobs; that is why there is so much unemployment. If they finish and they have some skill, they can make some money, have fulfilment and things would be better. What should be our foreign relation strategy in this next dispensation? We should not align ourselves with any world power. We should have self-determination. The country should have a policy that should make the citizens fulfilled. We should not align ourselves with any country and be tied to their apron. We should be able to stand on our own and make our friends the way we want it. Not being committed to any block, it should be African-Nigeria policy of being a world power; borrow technology from anywhere that will make our citizenship worthwhile.

16 Politics Governor of Jigawa State, Alhaji Sule Lamido, tasks the President-elect, General Muhammadu Buhari, to fulfil his promises to Nigerians. In this interview with DAN ATORI, the outgoing governor urges Buhari to implement the report of the 2014 National Conference. Excerpts: Your Excellency, what is your suggestion to the President-elect on electoral reforms? First, Nigerians must give it to the Goodluck Jonathan-led Peoples Democratic Party (PDP) government for the sportsmanship he displayed in the just-concluded elections. What happened when the president conceded defeat depicts that the electoral system is improving. The incoming government can only improve on it but I can tell you that by 2019, the Peoples Democratic Party (PDP) will bounce back and fix everything because we have learnt and known our lapses. We await what reforms General Muhammadu Buhari and the All Progressives Congress (APC) government would want to improve. However, elections in the country were in the past flawed while the 2015 election was hailed internationally and locally as a huge improvement on previous elections. The area they should focus on is the aspect of card reader which has been introduced. What advice would you give to Buhari on how to address corruption in the system? They have their plans on how to fight corruption. I know General Muhammadu Buhari as an

MONDAY, MAY 25, 2015 NEW TELEGRAPH

Lamido: President must respect confab resolutions they said they will end corruption. I am sure they know how. I am not an APC member but a PDP member who believes in party structures and manifesto.

Lamido

incorruptible and honest leader. I have no problem with the former Head of State. I agree like every other person that Buhari is an incorruptible, honest, clean and patriotic Nigerian. My concern has always been defectors who our party, the PDP, had made ministers, governors, speakers and members of the National Assembly, who left us after benefiting so much and are also calling for a fight against corruption. However, it is the hope of Nigerians for the new leaders to meet their

expectations after they had said in their campaigns that they would do this and they would do that like wiping out the PDP, wipe out corruption and to wipe out insecurity. But it is about time they do reflect because Nigerians want them to be liable and accountable. When they were canvassing for the votes, and going round inciting Nigerians against Nigerians, preaching about religion against religion, setting up tribes against tribes, race against race all in an attempt to cause confusion and disunity among the citizenry,

I am very sure Buhari will respect and ensure the full implementation because the report is about Nigerians

What do you expect from the incoming president on the implementation of confab report? We all know that President Jonathan has ordered the immediate implementation of the report particularly policy matters that do not require constitution amendment. I believe in President Jonathan’s vision in setting up the conference and I also commend the wonderful work done by eminent Nigerians who attended the conference in producing the report. I am very sure Buhari will respect and ensure the full implementation because the report is about Nigerians and what Nigerians want. The conference came up with modalities for implementing their resolutions and or recommendations. I can only hope the incoming government ensure it is adopted. He should also seek advice so that the report can be forwarded to the National Assembly. What do you think the new administration should do to the cost of governance? Like I said, APC has their own plans on how to govern the country. If it is necessary to enable his government has the resources to revamp the economy and undertake massive infrastructure development across the country, he may cut the cost of governance. I can only hope the economy gets better with the advocacy for drastic reduction in the allowances that are accruable to top government functionaries and lawmakers.

Buhari must tackle corruption – Balarabe C O N T I N U E D F R O M PA G E 1 3

elections was better than not having an election at all. No one could have predicted what would have happened if we had not had the last elections. So, even though the situation is so negative, once an election of whatever description has some level of legitimacy, it is worth more than no election at all. The 2015 elections had limited level of legitimacy but not a mass legitimacy. For instance, out of 70 million voters, only 28 million cared to go out and vote. And only 15 million actually voted for the President-elect. In a country with a credible standard of public conduct, this is less than a legitimate mandate. There is no question of popular mandate at all. But there is a legitimate government in the sense that an election took place and a winner was declared. Did you vote in the election because you complained that you didn’t have a Permanent Voter’s Card (PVC)? I got my PVC on the morning of the election and I voted. From your analysis of low voter turnout where only about 27 million people voted in

the last election, how can people’s interest be rekindled in the electoral system? First of all, money power should be taken out of Nigerian politics and election. Then, you must have a credible electoral body which make sure every Nigerian exercises his or her right to vote. There was little or no publicity on the part of Independent National Electoral Commission (INEC) before the 2015 elections. The only publicity was done by the political parties and it was partisan. Due to the falling price of oil at the international market, the country is faced with dwindling revenue. What do you advice the incoming government to do by way of reducing the cost of governance? First of all, they should deal with corruption, stealing and criminal waste of resources. I’m not saying they should deal with it alone. They can deal with every negative state of the nation but deal with corruption in particular, which is the root of everything. In spite of the huge amounts of money that has been spent in the power sector, the situation has not yet improved. What advice can you give the incoming administration regarding power?

There is no way they can tackle the problem without de-privatising the power sector. Not only power but all the major sectors which have the capacity to decide the health of the economy, should be de-privatised. We should have a system whereby the role of the state is greater in the running of the economy. The state should play a leading role in the economy to ensure peace, equality, justice, dignity of the human person and the progressive even development of the whole country. Will the de-privatisation of these companies not have legal implications for the government? Let the legal implications be dealt with. The investors bought it fraudulently. What is responsible for the failure of the privatisation of power sector in this country, is that companies were sold to individuals at an unrealistic prices. Some of them have not even paid the price up till now. The power sector should return to government control and the country can afford it. Those who bought some companies in the power sector have not paid up till now. They are waiting for some fraudulent ways so that the debt can be written off.

The refineries are still in the hands of government but they are not working as they should. Right now, there are long fuel queues in most parts of Nigeria, which is embarrassing for an oil-producing country. What is the way out? What is happening is happening because we have a corrupt government in place. The way forward is to bring about a socio-economic system based on public interest first and self-interest second. Unlike what we have now with the privatisation. Self-interest was first and public interest was second and even incidental. That attitude is responsible for the collapse of industries and this disabling level of corruption, stealing and criminal waste of resources. There is a lot of expectations on the incoming administration. Do you think that General Muhammadu Buhari will meet most of them? No, he cannot meet them alone. He has to have a team, he too must have patience. Right now, he doesn’t appear to have a team; his team is made up of opportunistic decampees. And he can’t face the negative state of the nation with this team.

Politics 17

NEW TELEGRAPH MONDAY, MAY 25, 2015

Clement Nwankwo, a legal practitioner, is the Executive Director of Policy and Legal Advocacy Centre (PLAC) and convener, Civil Society Situation Room. In this interview with TUNDE OYESINA, he highlights the expectations of civil society organisations from the President-elect

Electoral Reforms The President-elect should work towards an enabling law that will reinforce the independence of the Independent National Electoral Commission (INEC), the insulation of the commission from politics and political influence and we think that the laws establishing the commission, both in the constitution and Electoral Act need to be reinforced. This will create an INEC that is not open to manipulation and influence of politics and politicians. An INEC that is able to assert an important presence in determining the conduct of elections. An INEC that is able to have a key role in ascertaining the importance of internal democracy in the parties. So, it means that in going towards the next election, the Presidentelect and indeed the National Assembly will need to go back to the drawing board and see what laws exist, that need to be altered or need to be reinforced to give INEC the strength on independence that it needs. Corruption and cost of governance We think that if corruption is cut back, if monies are kept away from being frittered by public servants or politicians, a lot of money will be saved that will go to development. So, we think the institution checking corruption need to be strengthened, loopholes through which public officers and politicians steal from public purse need to be tightened and we think there is need to be punishment for corruption. The incentive for people to be corrupt is that they get away with it. The system need to enforce a mechanism that bring people to account for corruption. Power and other infrastructures That is a key to development that is the key to expanding Nigeria internally and externally. That is the key to curb unemployment, insecurity and indeed all of the malaise that confront us as country. The President-elect must build and re-build the infrastructure of the country. The president needs to go back to the drawing board and see what is hindering the generation of electricity and its distribu-

Buhari must embark on system overhaul â&#x20AC;&#x201C; Nwankwo ernment must increase the ability of the law enforcement agencies to carry out their role, recruit more policemen, equip and fund them adequately. But re-building infrastructure and creating employment would address significantly the huge chunk of the problem that security poses to the country. Implementation of confab resolutions On the confab issue, the new government must address once and for all, the whole debate that arises every four year in every cycle of a new government, going back to the issue of a constitution for Nigeria. The argument since 1999 is that the constitution is not derived from the people. We must answer that question for all time, which means the confab reports will be part of the resource including the reform of the Seventh Assembly on the constitution to be fed into the final answer of producing a good constitution for Nigeria. Constitution amendment The failure of the outgoing President to assent to the amended constitution, for me goes to the incompetence of the Attorney General. For you to have an Attorney-General, empowered for five years, and had no sense of understanding of constitutional amendment process and his role in it, I think for me represents how much of a failure, the Attorney General today is and the type of Attorney General this country does not need looking forward to have.

Nwankwo

tion. He needs to go to the issue of resources of the country, whether its resources generated from VAT (Value Added tax) or income generated by government bodies and agencies or indeed from prospective of crude oil and its export. The whole business of awarding pipeline protection contract to militants is completely absurd, and yet everyday, we are told that the country loses 400,000 barrels of oil to oil thieves. We think that the incoming government must go back to the issue. The incoming government should also examine the issue of subsidy situation. At the moment, nobody is paying N87 for petrol. This country must re-examine the whole issue of subsidy and in my view, we must scrap the scam called subsidy by first of all, proper pricing of petroleum products and secondly ensuring whatever proper price is. But more importantly, we must go back to the waste that is going on importing finished petroleum products. I think any country that produces crude and exports it is losing in a very lot of ways, not just only in sending out the crude and re-importing it as a fine prod-

The Presidentelect and indeed the National Assembly will need to go back to the drawing board

uct, but also losing the by-product of it. This country is losing an incredible amount of money by even exporting crude at all. We should be in position where we will process and refine all of our crude and become an exporter of finished products. Not just in terms of plastic, or kerosene or diesel or aviation fuel that derived from crude oil, but also in terms of the employment it generates for our ability to employ people to do all of these. I think we should decide that this country should stop exporting crude oil and harness the resources that processing it locally guaranteed. Rule of law The President-elect must go back to reforming the judiciary. A lot of corruption in the judiciary, a lot of abuse of judicial process, there is huge delays, there is very poor infrastructure for a proper judiciary to function. So, the incoming government must go back to a situation of total reforming and rehabilitation of the judiciary. Security and Unemployment It is all tied to re-building infrastructure. Of course, the new gov-

On the 8th National Assembly The new National Assembly should elect leaders who will give leadership, direction and who will help to deliver on the expectation of the citizens. We are happy the President-elect has made the point that he has no intention deciding for the National Assembly a leadership. We also believe that the incoming ruling party, the All Progressives Congress (APC) keeps away from the issue of influencing the leadership of the National Assembly. Let the leadership of the National Assembly emerge from among its members, someone well respected, who the people elected by themselves in the capacity of the Senate President and Speaker of the House of Representatives and deputies of both houses. Funding of National Assembly Part of the problem of the National Assembly is the distribution of the budget it receives. A lot of the committees are not properly funded. The incoming government should go back to National Assembly and get the members to re-consider its sharing formula, so that the committees and structures are funded to deliver on their expectations. The problem with the National Assembly now is the lopsidness in the sharing of budget that favours members as against the institution.

MONDAY, MAY 25, 2015 NEW TELEGRAPH

Opinion The bumpy ride ahead Dominik Umosen

olks are familiar with the idiom about the tortoise whining loudest on the eve of its freedom from captivity, in total disregard of the length of time it endured this condition. There might be no reason to ape the tortoise but the point must be made, well before hand, that the reshuffling of guards, as it were, in Aso Rock may not necessarily translate into El Dorado for economically hard-pressed Nigerians. Notwithstanding the intoxicating mantra of change, especially among the most ill-informed, the truth of the matter is that the popularity of the word among disillusioned citizens belies the enormity and seriousness of the Nigerian socioeconomic predicament about which President-elect Muhammadu Buhari warned his compatriots when he said that any one expecting a miracle from him does so at the risk of his or her fantasy. Even before his inauguration, the president made it very clear that because the socio-economic mess that the country invariably transmogrified into took decades to make, expectations of quickly fixing the country’s economic woes, especially from fanatical supporters largely without the benefit of logical perspective, was therefore unrealistic. Those expecting a miracle from him in this regard, Buhari warned, needed a fundamental reassessment of the gloomy economic situation. In any case, only those out of touch with socioeconomic realities or those steep in fantasy, rather

than reason, actually required this spine-chilling reminder. Determined to dissuade admiring folks from the misleading assumption that he is an allconquering miracle-worker who would, perhaps, banish poverty and want from the country once their hero got into power, Buhari felt safer explaining why El Dorado may still take a while, given current economic permutations. Even with my personal admiration for the man, especially the aspect about his spartan frugality and unshakeable commitment to discipline, I always suspected that this credibility might suffer unless he summoned the courage to come out clean and tell the nation’s true economic story without any embellishments. Thank goodness, the president, in waiting who is still savouring popular acclaim, eventually came clean with his admission of a bitter truth which will eventually speak for him, not too far from now. Obviously, Buhari is conscious of the fact that the judgement of history is usually harsher on a good man who delayed his admission of guilt or error of judgement unduly than on a criminal who confessed pronto. By raising the economic alarm when he did, there is the assurance that even if things do not work out as fast envisaged because of either the enormity of the inherited mess or collateral damage from a shrinking economy, it would be on record that, at least, some one spoke out. And doing so early enough is what will eventually make the difference. Of course, the prayer of every patriotic citizen should be for the president to succeed. This consolidated mess that has been aggravated by all manner of crises, including free-wheeling insurgency, is so

disgusting and suffocating that the average folk can hardly wait to have it converted into genuine hope and fountain of inspiration. Warning against baseless expectations of El Dorado by the president is therefore understandable as well as a basic lesson in self-preservation. Against this background therefore, it is important to emphasize that there might be no easy options before the in-coming government. The country’s economy never really stood any chance from multiple and devastating blows that were provided by the discovery of alternative energy sources by the West; the global oil price crisis and the bogey of corruption which has become most mind-boggling like the incredibly-huge pension fraud in Kano State. Even if he did not believe in God before, now is the time for the incoming president to re-invent his faith because he will certainly need it. The economic situation is so bad that various tiers of government have serially defaulted in salary payment for months now. And while the country grapples with whatever income trickles in from flagging oil sales, some unscrupulous soldiers and ordinary thieves have collaborated to steal nearly a quarter of the country’s monthly crude oil exports. The precariousness of this situation obviously inspired Buhari to advise against any baseless assumptions by the multitude chanting change which is the slogan of the new ruling party, the All Progressives Congress. If you juxtapose Yemi Osinbajo’s ‘this is the worst economic stretch in the country’s history’ and Buhari’s advice against expecting miracles, the bottom line is that Nigerians are in for a bumpy ride ahead.

Hard Times: Nigerians preparing for death Sixtus Chibueze Ezennaya

bituary and funeral orations are for the dead. The living has no business for so ever with these words. On the other hand, no one ever listens or hears one’s own funeral oration unless it is a novelty. The role of the living with regards to obituaries and orations is to ensure their implementation by either writing or reading the write-up. It is quite unheard of that a living writes one’s obituary or funeral oration. People may dig their graves while some purchase their coffins. People also write their wills. As a therapy, people drink their own urine. But it is doubtful if one can drink the urine of another for the cure of an illness. Nevertheless, cannibalists eat human flesh for reasons best known to them. But then, should faeces be eaten at all for any reason? Does it not sound odd for one to write one’s obituary announcement and funeral oration? Could one indulging in this oddity not be inviting death which everyone including the dead, dreads? Believe it or not, the hard times in Nigeria have made Nigerians write their obituaries and funeral orations in advance. Summarily put, Nigerians are preparing for death. Whose turn next is the guess on everybody’s lip? Death is now everywhere, everytime and in every home. This moment it is Mr. “B” via a ghastly motor accident. The next moment, Mr. “C” is in the hospital stroke-stricken. The next hour, Mr. & Mrs “D” are in the mortuary courtesy of a “strange illness” that befell the duo after visiting the site of their new house in their home town. Wedding couples sometime ago died consequent

of the alleged Naira-notes pasted on their faces while doing their bridal-dance during the reception. In Government offices, the boss should be watchful and cautious otherwise someone else eyeing the position sends a “protracted illness” to the occupant so that in the end, the seat becomes vacant for one to occupy. Apart from these man-made-deaths, natural ones here ravage the Nigerian horizon. Today in Nigeria, millions of young girls in the guise of employment have accepted to become “sex-girls” or “sex-slaves” (office/sales girls) to some “Damaging Directors” nay Managing Directors and in the process have turned into agents of death or HIV carriers. What a wickedness and man’s inhumanity to man! Oh God, why have you forsaken Nigerians? Why should all Nigerians perish in one year? Buttocks foul the air while head gets the knock! Nigerian rulers have ruled Nigerians from prosperity to austerity, from austerity to bankruptcy and heading towards debtor-nation again and perhaps finally to their graves. When the handshake goes beyond the elbow, it becomes a fight. Nigerians should rise to this challenge. It is even better for Nigerians to be killed by the same government they have voted to save and protect them than to be killed by the problem against which they have voted the government-in-power to save and protect them from. At times, I begin to wonder the type of people Nigerians are. What stirred trouble in Cote D’lvoire, Somalia, Sudan, Tunisia, Algeria, Liberia, Sierra Leone etc was not up to one tenth of what happens here. Perhaps, Fela Anikulapokuti was prophetic in his music album “Suffering and Smiling”. But then,“Democracy no longer works

for the poor if politicians treat them as a separate race” according to Frank Field. At one hospital in Aba sometime, about sixty corpses were taken delivery of, by various bereaved families. The scene was almost colour-riot of all types of mourning clothes, coffins, ambulances etc. Then think of the number that was taken delivery of on other peak days like Thursdays, Fridays and Saturdays besides abnormal days. Assuming that Aba, the Home of Petroleum Filling Stations, has fifteen mortuaries, what will be the death toll of Aba per month? Could anyone imagine the number in densely populated towns like Kano, Lagos, Sokoto etc? For moslems, who do not make use of mortuaries unless on special occasions, the number of death is equally high. In Statistics, we were taught that queue (line of people waiting for their turns) is as a result of the inability of an attendant to attend promptly to people needing one’s services. In various hometowns and villages, there are queues of obsequies from Monday to Saturday. And it is sometimes a pity listening to funeral orations at some of these funeral ceremonies. Some depict the type of frame of mind of the mourners and bereaved families or their misgivings against the government and perceived “killers”. On the other hand, it sometimes also exposes the type of death that passed the deceased on. On two occasions, I have heard funeral orations point accusing fingers at the government for the high death toll so rampant in the society. One oration at one funeral wrote, “People of the ruling class will be happy with what is happening as it is their brainchild. They sowed the seeds of death. In fact the other name

for Nigerian government officials is the coffin seller who wants long life for oneself and short life for others”. In a funeral oration of a female corp member mauled down by the bullets of the members of BOKO HARAM, the village youth organization wrote, “…you have fallen to the evil machination of Nigerian factor where youths take to terrorism in order to survive, students become robbers in order to get school fees, become cult members so as to pass examinations and on graduation need a god-father to get a job while politicians become members of secret societies or take oath before a deity in order to “win” elections. The oration concluded by pleading with God Almighty to protect the youths from the “protection-free” society where protection of lives and property is entrusted to the care of the government that seems not to care. Perhaps, it may be true that only one-third of Nigerians are asleep every night and the other two-thirds are awake and up to some mischief somewhere in order to make ends meet. God, in my own assessment, unduly favoured Nigeria as she has virtually everything: fertile land, human, material and mineral resources. But why are Nigerians in the lack? Why should those employed to guard the village well, complain of thirst? Does anyone residing beside the river need to bathe with saliva? What other animal can a hunter effortlessly catch alive if he should shoot a tortoise? If Nigerians cannot make maximum use of God-given endowments, how reliable are their recourse to man-made and unnatural earthly gifts? • Ezennaya is the Publicity Secretary APGA Abia State. 08038803962.

NEW TELEGRAPH MONDAY, MAY 25, 2015

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here is a huge population of Nigerians living outside our shores. So many of them have found home ,away from their country of origin and are doing so well representing those countries in various fields of endeavour. You find these compatriots, wearing the colours of their adopted nations and winning laurels in sports. Akeem Olajuwon, won a basketball gold medal at the 1996 Atlanta Olympic Games, playing for the United States Dream Team. Daley Thompson, Kriss Kezieuchechukwu Duru Akabusi and Christine Ohurogu made Great Britain proud, at various championships while Francis Obikwelu who could not win an Olympic medal for Nigeria, bagged a 100 metres silver at the Athens 2004 Olympics running for Portugal. An American Olajuwon, a British Ohurogu and Russia's Ifidzhen, all tell a positive story about Africa's largest economy. We are all not about oil theft and a flawed political process. There is an irony to this. Some of these Nigerians have also found themselves competing against their country of origin. A handful, had to hand out defeat, to their fellow countrymen and women. That was what happened last Wednesday in Lagos, at the 37th Central Bank of Nigeria[CBN] Senior Tennis Open. Melissa Ifidzhen, a Nigerian, born in Russia, sent out the womens’ singles number two, Sarah Adegoke, 6-0, 4-6, 6-0, in the second round. That was an upset. The victor was happy she crashed the dreams of ‘a good player’. Melissa’s part should not come

A lot of Nigerians have come out of Cote d’Ivoire. There is Sam Abouo Dominique, from Ogoja. He came on against Nigeria playing for both ASEC Mimosas and the Elephants. And he did not have any regrets as a surprise, she only stepped into the shoes of so many other Nigerians before her, who had to inflict defeat on compatriots or had to contend with them, in various championships. It could have started in the First republic with Alex Okoli. The young man, competed for Ghana at the Quadrangular Games, in Accra. He was schooling in the former Gold Coast at the time. Two of his sisters, Amelia and Edith, represented Nigeria, in the same competition. Amelia , who later became Mrs. Amelia Okpalaoka ,won gold in her event while their brother, grabbed a high jump bronze. Ibrahim Sunday, one of the best footballers to come out of Ghana , is a Nigerian, from Kano. Severally, he led both Asante Kotoko and the Black Stars, against Nigeria. Sunday

capped it all in 1991, when as Coach of Africa Sports, Abidjan, he stopped Lobi Stars of Makurdi, from winning the WAFU Cup. A lot of Nigerians have come out of Cote d’Ivoire. There is Sam Abouo Dominique, from Ogoja. He came on against Nigeria playing for both ASEC Mimosas and the Elephants. And he did not have any regrets.” Nigeria is blessed with a lot of players so they should not think of me,” he once said. Rashidi Yekini was promised a lot of dollars to score against Iwuanyanwu Nationale, in the 1990 CAF Champions league. And he scored in both legs, although the Nigerians laughed last. And his goals came in the 18th minute. Enyimba were unbeaten in Aba in the CAF Champion’s league, until they met Africa Sports in 2004. The Ivorians ran away with a 1-0 victory. That lone goal was scored by a Nigerian, Taofeek Oyasipe. Enyimba would run into trouble later through Nigerians playing for other clubs, against them. From Austine Ejide and Ogochukwu Obiakor in the colours of Etoile Sportif Sahel, Tunisia to Onyekachi Okonkwo and Willy Okpara of South African team ,Orlando Pirates. There were funny sides too. Christian Madu, came with Accra Great Olympics, against Enugu Rangers in 1975. The Flying Antelopes had no problem with Skipper Awule Quaye. Their tormentor in chief was petit Madu. The away first leg ended 2-0 against the Ghanaians. In the Lagos return leg, Madu was ready to wreck Rangers. And he almost did. Oly got

a goal, to end it 2-1. Rangers did not let Madu go . They signed him on. Burkinabe side, USCB, were in Nigeria to face Shooting Stars, Ibadan in the maiden CAF Cup in 1992. They had two Nigerian players. Both were benched. One of them ,Sakiru Olubodun, from Saki, in Oyo state, had actually played against Bendel United in the 1989 Winners Cup. He was dropped against the Oluyole Warriors because USCB feared he could sell out. A day after the game, Olubodun joined Super Eagles bus to Lagos. Friday Ekpo, was a darling of Yoruba football fans. Although from the South-South, he spent quite some time in the SouthWest. Ekpo, later joined Gabonese club, Shell. And Shell were in Lagos to tackle Stationery Stores, the Flaming Flamingoes. A night to the match, Stores fans went to his hotel, begging him not to score against their team. Ekpo failed them and his goal sent the Adebajo Babes out of the competition. In the military, it is criminal to fight against ones country. Sports is not war, so Melissa will go scot free. Although she won for Russia, credit will also go to Nigeria for giving one of her own to Russia. It is also good for our country. It shows that there are many Nigerians contributing positively to the image of other countries. The glory also reflects on their country of origin. Often times, stories about a few disgruntled Nigerians in the diaspora are flashed across the globe. We can also hope that those who are benefiting from the heroics of our citizens in their country applaud us.

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Politics

MONDAY, MAY 25, 2015 NEW TELEGRAPH

We’ll inherit Nigeria’s worst economy – Osinbajo Vice-President-Elect, Prof. Yemi Osinbajo (SAN), at a Policy Dialogue on the Implementation of the Agenda for Change on May 20, laments the state of the economy

n the course of the election campaign, we ran an issues-based campaign that identified certain areas of public policy as high priorities for propelling Nigeria forward. We addressed the challenges of the economy, insecurity, corruption and job creation. We spoke to the challenge of providing opportunities for selfactualisation to millions of

our young people who face an uncertain future with understandable anxiety. We also addressed the challenge of providing for the most vulnerable segments of our population by equipping them with the tools to emerge from the crippling limitations of poverty to achieve dignified and productive citizenship. The figures of extreme poverty in our society – 110

million by current estimates – makes it clear that our biggest national problem is the extreme poverty of the majority. Thus, no analysis is required to conclude that dealing with poverty and its implications is a priority. We are concerned that our economy is currently in perhaps its worst moment in history. Local and international debt stands at $60

billion. Our debt servicing bill for 2015 is N953.6 billion, 21 per cent of our budget. On account of severely dwindled resources, over two-thirds of the states in Nigeria owe salaries. Federal institutions are not in much better shape. Today, the nation borrows to fund recurrent expenditure. This is also against the backdrop of a highly unequal society in which, by some reckoning, the largest chunk of the benefits of our national wealth accrues to a small percentage of our population. Our manifesto offered a vision of shared prosperity and socio-economic inclusion for all Nigerians, that

leaves no one behind in the pursuit of a prosperous and fulfilling life. Our goal is to interrogate these positions and propositions before a wider audience and to launch a robust public conversation on policy directions and priorities that will help inform our administration’s approach in the next four years. This forum exemplifies the sort of consultative and consensual approach to policy-making that our party and the new administration intend to model in office. This morning, on every street corner across this nation, Nigerians, as is their daily custom, will cluster around the local vendors

and debate the burning national issues of the day. The fervency of these loosely structure “policy dialogues” suggests that Nigerians are fairly well acquainted with our problems and their touted solutions. The missing link has always been how to implement the identified solutions to these problems. In other words, we know the “what” and the “why” but have not been as adept at the “how.” Our task is broad and deep. Our sessions will explore a wide range of policy priorities including the diversification of the economy in the wake of declining oil revenues by engendering job-led growth, the revitalization of agriculture in pursuit of job creation and food security, improving the regulatory frameworks in our most strategic sphere of economic activity – the oil and gas sector, improving access to qualitative and affordable healthcare, reducing inequality, reforming our education system to close the gender gap in access to education and to enable our children become effective contestants in the global economy, expand participatory diversity and inclusion in public life and tackle inefficiency and graft in public service. Our brief is very expansive and must do justice to all the issues on the table. While a definitively exhaustive discourse cannot be conducted within the limits of the time we have. This forum is not intended to produce a comprehensive agenda. Rather, it is designed to inaugurate a robust conversation that will continue long after we have left these precincts. Our immediate duty today is to set the tone for what we desire to be a serious and intelligent dialogue about the future of our nation. Consequently, this forum cannot and will not be another talk shop. Our deliberations must be informed and pointed submissions that lay adequate emphasis on the “how” of implementation. I enjoin us to avoid over analysis and indeed the paralysis of analysis and focus more on specific actions, resource requirements, time lines, key performance indicators and milestones for evaluating progress, measurable parameters, goals and targets. Our presentations should also profile risks such as the key challenges that will have to be confronted in the process of policy execution. We have a few days to go – to enter into a new bold Nigerian enterprise. There are many hurdles to scale but we are confident that by God’s grace our nation will serve its people well.

NEW TELEGRAPH MONDAY, MAY 25, 2015

Uncertainty trails ECOWAS single currency prospects

BGL in the eye of a storm

Issue of the week

Insurance

Austerity measure: ‘Pension funds will rescue contributors’

‘We’ve started integrating national identity card and BVN’

42-43

Money Line

Interview

Business What's news

Scarcity raises Nigeria’s cooking gas price by 29% The scarcity of Liquefied Petroleum Gas (LPG) otherwise known as cooking gas in Nigeria, Africa’s biggest crude exporter, degenerated at the weekend.

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Nigerian airlines seek aids as US carriers get $71.5bn Nigerian airline operators have called on the Federal Government to take a cue from the United States government, which clandestinely gave its three airlines, Delta, United and American Airlines $71.5 billion in government subsidies.

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The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

L-R: Executive Director, Finance & Strategy, Sterling Bank Plc, Mr. Abubakar Suleiman; Winners of the Sterling Bank Gunners promo, Messrs. Adeyeye Olufemi and Sakariya’u Adeleke and Executive Director, Retail & Consumer Banking, Sterling Bank Plc, Mr. Grama Narasimhan, at the presentation of travelling documents to the winners of the promo at the corporate head office of the bank. PHOTO: SULEIMAN HUSAINI

Fraud: Customs scrap Direct Traders Input cafes FRAUD Hackers invade cafes to release containers without paying prescribed duties

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Bayo Akomolafe

he Nigeria Customs Service (NCS) has finally approved the scrapping of the Direct Traders Input (DTI) cafes, which have become haven for cyber criminals who used the system to perpetrate frauds.

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Recover N41.55bn from infractions

The jettisoning of the DTI is coming seven years after it was introduced to facilitate trade in the country’s ports and borders. The DTI is an electronic process of lodging customs declarations, using the Automated System of Customs Data. Sources revealed that only customs agents with valid licenses would, henceforth, have access to DTI. In 2014 alone, customs discovered a total of 17,436 cases of infractions, about 67 per cent above the 10,423 recorded in

2013. The service, it was learnt, recovered N41.55 billion from the infraction last year, representing four per cent of revenue collected in 2014. The first set of DTI cafes were commissioned in Lagos on July 10, 2008, by then Customs Comptroller-General, Hamman

17,436 Total number of infraction cases in 2014

Bello Ahmed. The operation of the cafes, Bello had said during the commissioning, was part of efforts to bring all stakeholders involved in cargo clearance under one community, where all processes are electronicallydriven. The decision of NCS to take precautionary measures against cybercrimes in 2013 might not be unconnected with its experience whereby some criminals hacked into the AuCONTINUED 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 22)

USD . . . . . . . . . . . . . . . . . . . . . . N222 Pounds . . . . . . . . . . . . . . . . . . . N340 Euro . . . . . . . . . . . . . . . . . . . . . . N245

l Foreign Reserves – $29.789bn as at 21/05/2015

Source: CBN

EXCHANGE RATE (Interbank as at May 22)

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

Business | News

RATIONALE LPG marketers allege product terminals’ diversion, hike price Adeola Yusuf

he scarcity of Liquefied Petroleum Gas (LPG) otherwise known as cooking gas in Nigeria, Africa’s biggest crude exporter, degenerated at the weekend. The scarcity, which started during the second week of April, has lead to a hike in prices of the commodity. Checks by New Telegraph revealed that 12.5 kg of LPG, which was hitherto sold for N2,800 in Lagos is now sold at between N3,500 and N3,600. This newspaper gathered at the weekend that supplies to NIPCO, Total, Forte Oil, Nigerian National Petroleum Corporation (NNPC), among others, have crashed by over 200 per cent. President, Liquefied Petroleum Gas Association of Nigeria (LPGAN), Dapo Adesina, who confirmed the scarcity, said that the acute shortage in supply of LPG in the country was caused by the usage of LPG terminals for other purposes. Three terminals namely NIPCO terminal, Products and Pipeline Marketing Company (PPMC) terminal and NAFGAS

Customs scrap Direct Traders Input cafes

MONDAY,MAY 25, 2015 NEW TELEGRAPH

Scarcity raises Nigeria’s cooking gas price by 29% terminal are, according to him, the three approved by the Federal Government for the supply of LPG in Lagos. He insisted that the failure to use the terminals to distribute LPG was the cause of the scarcity Adesina said: “The Nigeria Liquefied Natural Gas (NLNG) is not the cause of the scarcity of the product as people were made to believe. NLNG supplies LPG

seamlessly through vessels that are coming from its base in Port Harcourt, Rivers State, to Lagos. “The failure to use the three terminals to distribute LPG is the cause of the scarcity. Imagine a situation where one out three terminals was used to get cooking gas to the consumers. Definitely, a few people would access LPG, which would ultimately lead to scarcity.” The development has, according to Adesina,

resulted in uneven distribution and scarcity of cooking gas in the country. The LPG marketers have not only increased the price of the product, but are also rationalising its supply. An industry source told our correspondent that the scarcity was caused by the usage of LPG distribution channels for other purposes than what they were built for.

Government, he said, directed that two out of the three distribution channels, be used to supply Premium Motor Spirit (PMS) to make fuel available in the country. Meanwhile, some Nigerians who depend on LPG have resorted to using Dual purpose Kerosene (DPK) due to the scarcity of the former. “It is becoming so difficult that the scarcity of cooking gas is coming at a time that the fuel scar-

city has been left unaddressed while the power supply fall also lingers,” Ibukun Omotoso, an LPG user said. “The 12.5 kilogramme of LPG, which we buy at N2,800 is now sold at N3, 500 at a few gas outlets, while others are not selling the product at all,” she said. She called on government to intervene in the scarcity. “We all believe that we still have a government that is responsible. Please let government come to our aide fast, this suffering is becoming too much for us,” she lamented.

L-R: Registrar Chief Executive, Institute of Chartered Accountants of Nigeria (ICAN), Mr. Rotimi Omotoso; Council Member, Alhaji Rasak Jaiyeola; Golden Jubilee President, Mr. Chidi Ajaegbu and 2nd Vice President, Alhaji Ismaila Zakari, at the launching of new Study Packs by the ICAN, in Lagos. PHOTO: TONY EGUAYE

CONTINUED FROM PAGE 21

tomated Systems for Customs Data (ASYCUDA), leading to the release of containers without paying the prescribed duty and other charges. At the Port and Terminal Multi-services Limited, in August 2013, four containers were released by hackers, but were intercepted and seized by customs. The containers marked MRKU8691319, MRKU81816331, ACLU 9639590 and MSKU 9475050 were laden with plastic wares, printed wax bales of 600 yards per bale, furniture and fireworks. The Customs Comptroller General, Dikko Abdullahi, said: “DTI allows importers or their agents to access the Customs’ Automated System for Customs Data (ASYCUDA) server and make their declarations directly without being physically present at the port.” CONTINUED ON PAGE 36

INTERVENTION Nigeria assisted the airlines with N250bn intervention fund

Nigerian airlines seek aids as US carriers get $71.5bn

Wole Shadare

Want tax holiday

igerian airline operators have called on the Federal Government to take a cue from the United States government, which clandestinely gave its three airlines, Delta, United and American Airlines $71.5 billion in government subsidies. While acknowledging that the International Civil Aviation Organisation (ICAO) and the International Air Transport Association (IATA) frown at direct subsidies to airlines by states, Managing Director of IRS Airlines, Mr. Yemi Dada, noted that what the Nigerian government needs to do for airline was to create special funds which the carriers can draw from. Dada stated that govern-

ment should allow airlines to draw such funds at single digit rate, make aviation fuel cheaper and make spare parts assessable to the operators. Besides, he said that government could encourage and appeal to Nigerians to patronise Nigerian airlines by offering them incentives that could make local airlines rake in over N200 billion annually. The IRS Airlines boss noted that United States has found numerous ways to financially help its airline industry to become established and well positioned to enable them become the most powerful and profitable airlines in the world. One of such numerous ways, according to Dada, is the civil reserve air fleet programme, which makes it very

easy for America to spend about $600 million annually on commercial airplanes based in the US airlines, which ferry for them military equipment of about 17 million tones miles per day. He said: “The American government also used to have fund to guarantee loans for airlines to acquire equipment.” The closest Nigeria came to assisting the airlines was when government offered the carriers over N250 billion intervention fund seven years ago. Not much was achieved with the intervention, as the funds were used to settle the carriers’ mounting debts. While some judiciously applied the funds, others were alleged to have bolted with the money, a situation that led to

the extinction of many of the airlines. Also, a top airline official, who spoke to New Telegraph under condition of anonymity, said that the country’s airlines are dying because of the way government had abandoned them in the face of difficulties. The source stated that there is the need to extend waiver to procure spare parts and granting of tax holiday of two years, especially to new entrants. He said: “The problems of Nigerian airlines have defied solutions. Aside from policies that are self-destruct, the environment is not conducive for most businesses to thrive and aviation is not an exception.” Research by the independent Risk Advisory Group found that the vast majority of the $71.48 billion to American Airlines, United and Delta has been paid since 2000.

INTERNATIONAL WEEKLY

In collaboration with

Sanctity of Truth

Fake Diplomas, Issued on a Global Scale By DECLAN WALSH

Seen from the Internet, it is a vast education empire: hundreds of universities and high schools, with elegant names and smiling professors at sun-dappled American campuses. Their websites, glossy and assured, offer online degrees in dozens of disciplines, like nursing and civil engineering. There are glowing endorsements on the CNN iReport website, enthusiastic video testimonials, and State Department authentication certificates bearing the signature of John Kerry, the American secretary of state. “We host one of the most renowned faculty in the world,” boasts a woman introduced in one promotional video as the head of a law school. “Come be a part of Newford University to soar the sky of excellence.”

Yet, this picture shimmers like a mirage. The news reports are fabricated. The professors are paid actors. The university campuses exist in name only. The degrees have no true accreditation. The slick websites have toll-free American phone numbers and familiar-sounding names like Barkley and Columbiana. Very little in this virtual academic realm, appearing to span at least 370 websites, is real — except for the tens of millions of dollars in revenue it gleans each year from many thousands of people around the world, all paid to a secretive Pakistani software company. That company, Axact, operates from the port city of Karachi, where it employs over 2,000 people and calls itself Pakistan’s largest software exporter, with Silicon Valley-style employee

Little of the academic realm presented by Axact, based in Karachi, is real. Barkley University degrees are not valid around the world. perks like a swimming pool and yacht. The heart of Axact’s business is the sales team — young and well-educated Pakistanis, fluent in English or Arabic, who work the phones with customers who have been drawn in by the

websites. They offer high school diplomas for $350 and doctoral degrees for $4,000. Axact tailors its websites to appeal to customers in its principal markets, including the United States and oil-rich Persian Gulf countries. One Saudi

man spent over $400,000 on fake degrees and associated certificates, a former employee said. Usually the sums are less startling, but still substantial. One Egyptian man paid $12,000 last year for a doctorate in engineering technology from Nixon University and a certificate signed by Mr. Kerry. His professional background was in advertising, he said. But he was certain the documents were real. “I really thought this was coming from America,” he said. “It had so many foreigner stamps. It was so impressive.” Axact does sell some software applications. But according to former insiders, company records and a detailed analysis of its websites, Axact’s main business has been to take the

Continued on Page 26

$179 Million Sale Of a Picasso Reflects Global Inequality

A Reflection Of Inequality

We don’t yet know who agreed to pay $179.4 million for a Picasso in an auction this month — or where the money came from, or what motivated that person or persons to spend more than anyone has for a single piece of art at auction. But this much we do know: The astronomical rise in prices for the most-sought-after works of art over the last NEWS generation is in large part ANALYSIS also the story of rising global inequality. At its core, this is the simplest of economic math. The supply of Picasso paintings or Giacometti sculptures (one of which sold for $141 million in the same auction) is fixed. But the number of people with the will and the resources to buy top-end art is rising, thanks to the distribution of extreme wealth. One of the most important findings of the leading economists who study inequality is that wealth and incomes at the very top are “fractal.” What they mean is that when you zoom in on the upper end of wealth distribution, patterns repeat themselves in an ever more finely grained pattern. Partners at law firms who are in the top 1 percent of all earners have seen their incomes rise faster than successful dentists who are in the top 10 percent. But by a similar margin, chief executive officers of large companies who are in the top 0.1 percent are seeing incomes rise faster than those law

NEIL IRWIN

TIMOTHY A. CLARY/AGENCE FRANCE-PRESSE — GETTY IMAGES

The recent sale price of Picasso’s ‘‘Les Femmes d’Alger (Version O)’’ represented a 462 percent gain since 1997.

INTELLIGENCE

Black and ignored in Europe. PAGE 24

WORLD TRENDS

Traffickers lure African children. PAGE 25

MONEY & BUSINESS

Malta citizenship for a hefty price. PAGE 29

Continued on Page 27

SCIENCE & TECHNOLOGY

A dinosaur equipped for flight. PAGE 31

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, MAY 25, 2015

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

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

Sharing Power on World Finance The reluctance of American and European officials to give developing nations a greater role in the International Monetary Fund and the World Bank risks making those institutions less relevant and effective than they could be. The institutions trace their founding to 1944, when officials from the United States, Britain and other countries met in Bretton Woods, New Hampshire, to restructure the global economic system. At the time, America had an economic edge. World War II was devastating Europe and Japan, a brutal civil war in China would soon resume, and India was still a British colony. The global economy has changed greatly since then, but who calls

the shots at the two institutions has not. Both are based in Washington. The United States and European countries collectively are the largest shareholders, and they appoint the top executives. Despite their rapid growth, China, India and other developing countries have much smaller votes than their relative size in the global economy. For years, officials in developing countries grumbled about Western control of these two organizations, and for good reason. The I.M.F. lends to financially troubled nations, and the World Bank finances development projects in poor countries. Why shouldn’t developing countries have a bigger say?

That may be changing. China has decided that it will wait no longer for a bigger role on the global economic stage. Recently, it said it would create the Asian Infrastructure Investment Bank, a rival to the World Bank that has already attracted many European and Asian countries as members. And last year, it enlisted Brazil, India, Russia and South Africa to create the New Development Bank. Together, the two China-led banks will have about $150 billion in capital, an amount that is roughly 70 percent of the World Bank’s $223 billion. China has also lent tens of billions of dollars to countries in Africa, Latin America and Asia through bilateral loans.

Some Western leaders have said the West should welcome these new Chinese banks and invest alongside them. One reason is to make sure they operate at the same high standards as the I.M.F. and the World Bank, though there should be no illusions about their influence, since China intends to dominate both organizations. The new banks pose a challenge to the West to modernize the old institutions. To its credit, the Obama administration tried in 2010 to increase the representation of developing countries in both institutions. For example, China’s voting share on the fund’s board would have increased to 6 percent, which is about half as big as China’s share

of the global economy, though still considerably higher than the country’s current 3.8 percent share. But Republicans in Congress have refused to ratify changes to the I.M.F. But there is more that the administration and European officials can do on their own. For example, they can declare that they will end the anachronistic tradition of appointing a European to head the fund and an American to head the bank. They should pick the best candidates for those jobs regardless of nationality. If the West does not make more space for developing countries in existing financial institutions, the result will probably be a more fragmented global economy.

INTELLIGENCE/VITTORIO LONGHI

Most Europeans, even those of African descent, have ignored the plight of migrants fleeing the violence in Africa. African migrants at Lampedusa Airport in Italy.

Creating a Culture For Euro-Africans Rome While the recent spate of deadly police confrontations with black men in America has sparked a renewed debate about racism, the conversation in Europe about violence, social exclusion and immigration has studiously avoided the issue of race. But for some Europeans of African descent, the message is clear. “Honestly, it’s quite tiring watching black people dying all the time,” Tamara Gausi, 33, a journalist who was born in London to parents of Malawian origin, told me. “Whether it’s in Baltimore or in the Mediterranean Sea, in the media it’s almost as if it’s completely normal for black people to die, and that is a terrible message.” My talks with Ms. Gausi revolve around the deep disappointment we feel about the lack of outrage over the brutal experiences of black migrants. Worse, most Europeans of African roots Vittorio Longhi is an Italian journalist whose latest book is “The Immigrant War: A Global Movement Against Discrimination and Exploitation.” Send comments to intelligence@nytimes.com.

ignore what is happening on the other side of the Mediterranean. In southern Europe, being black is often synonymous with being an African immigrant or a refugee, and therefore an easy target. In 2013 and 2014, in Spain, Greece, Italy, Poland and Ukraine, hundreds of people of African origin were physically assaulted, and many of them killed, the European Network Against Racism reports. I am of Eritrean descent, though I am light-skinned, and the issue of Afro-European identity is new to me. I was raised in an all-Italian environment, where my African heritage was largely ignored. Even my father, a black man born in Asmara during Italy’s colonial period, rarely acknowledges our ties with Africa. For a long time, I didn’t really question color and seldom realized how frustrating the constant negative portrayal of black people can be. Yet witnessing the oppression and the suffering of those who are fleeing Africa shook my Eurocentric indifference. There has not been a serious effort to build a narrative about the black experience in Europe that takes into account class and power relations. Though there are

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eight million blacks living in Europe, there is little debate about the underepresentation of people of color, who have lived and worked here for generations yet rarely attain positions of power. Even in Britain, which many see as the most tolerant European country for multiculturalism, most blacks receive inferior educations and have access to low-quality health care. They generally work low-paying jobs, and their unemployment rate is high. In France’s suburbs, the third and fourth generations of immigrants from North Africa face the same fate. This situation has provoked violent riots in both France and Britain in recent years and has created fertile ground for extremism. The neglect reveals ineradicable ties with Europe’s colonial history that clash with Europe’s human rights values. Creating a black narrative requires questioning old colonial symbols first. This is happening, with a more aware and networked generation of activists. One example is the campaign against Zwarte Piet, or Black Pete, the dull, Afro-looking servant of Santa Claus, dear to Dutch and Belgian traditions. In

2011, artists and human rights groups organized protests until Zwarte Piet’s look was changed. He now appears without the frizzy dark hair and big red lips, though his face is still painted black. One reason such offensive symbols weren’t questioned until recently is because of the fragmentation among black activists across Europe. In the United States there has been a comprehensive cultural construction of African-American identity, and a movement that responds when there is injustice or violence. We Euro-Africans still lack our own positive, inspiring symbols and leaders, our Martin Luther Kings, our Rosa Parkses, our Barack Obamas. “We should be more active in telling our stories and not be afraid of celebrating our culture,” Johny Pitts, a photographer born in England to an African-American father and a British mother, told me. Touring the Continent, he has portrayed hundreds of black Europeans for a street photography project called “An Afropean Odyssey.” “It is all about opening dialogue, and not just about race or for the sole defense of blackness,”

Mr. Pitts said. He is not interested in antiracism militancy. He wants to reframe the image of black men and women in Europe to highlight the dignity and the strengths of African descendants. Entrenched attitudes are hard to overcome. On a train to Rome recently, I saw ticket collectors blocking access to first-class seats to a young black man, Ivan Sagnet, an engineer from Cameroon. After Mr. Sagnet showed his ticket, they let him in. He noticed my indignation and smiled. “This is not the first time it happens, but I have learned not to react,” he said. He told me he went to Italy’s Puglia region for the melon season four years ago to earn money for his university fees. There he helped organize farm workers against exploitative labor practices. He now works for the trade unions, assisting immigrants and raising awareness about worker rights. “I was happy to see some antiracism groups supporting our actions, but we warned them that the exploited were not just black Africans, since many were Eastern Europeans and Middle Eastern,” Mr Sagnet said. “Our fight was not about race, but injustice.”

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THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

MONDAY, MAY 25, 2015

WORLD TRENDS

Traffickers Lure African Youth, Then Demand Payoff Origin of Migrants Arriving in Italy

By DAVID D. KIRKPATRICK

ZAWIYAH, Libya — The proposal was too tempting for the children to resist. Smugglers had offered the boys and girls transportation out of the refugee camps along the Eritrean border, across the African deserts and the Mediterranean Sea, to a new life in Europe. There, they could quickly win asylum and bring along their parents, the smugglers assured them. Payment could come later. By the time the smugglers had brought the boys and girls to Libya, however, the offer had become an ultimatum. The children, some as young as 8, called their parents to relay a demand from the smugglers for about $3,200, more than 2,800 euros. For parents, failure to send the money meant abandoning their sons and daughters to the chaos of Libya. Zackarias Hilo, 19, the oldest of about 40 Eritrean boys being held, said his father had exclaimed that he was too poor to pay. “Then I am dead!” Zackarias replied. So “my father went to the old city to sell all his goats,” he said. “It was the same for all of us.” There are about 80 Eritrean boys and girls imprisoned in two detention centers here. They are among the most innocent victims of the human smuggling machine that is sucking African migrants into the Libyan maelstrom and onto the Mediterranean waters. Of roughly 170,000 migrants arriving in Italy by sea from Libya last year, more than 13,000 were children traveling alone, and 3,394 of those were Eritrean, according to the International Organization for Migration. In the first few weeks of this year’s peak sailing season, about 30,000 migrants have crossed, including some 1,700 Yaseen Kanuni contributed reporting.

More than 26,200 migrants have landed in Italy this year. About 10 percent were minors. ARRIVALS BY SEA, JAN. TO APRIL 2015

25,000

Eritrea 5,400

20,000

Somalia 3,700

15,000

Nigeria 2,800 Gambia 2,100

10,000

5,000

Syria 2,100 Senegal Mali Sudan Other

TYLER HICKS/THE NEW YORK TIMES

Children from Eritrea are frequent targets of smugglers. Migrants detained in Tripoli, Libya.

Source: International Organization for Migration THE NEW YORK TIMES

unaccompanied minors. The families being extorted by the smugglers are invariably already impoverished. In Eritrea, the average per capita income is about $550 a year, according to the most recent World Bank figures, so meeting the smugglers’ ransom can consume the savings of a whole village or more. “The smugglers are very creative,” said Meron Estefanos, an Eritrean rights activist who works with migrants. “Once the smuggler gets the children to Libya, the parents have no option but to send money, because there is no return.” If the children reach Europe, she said, “the first thing they ask me is always, ‘Can I bring my parents?’ ” The unaccompanied children come from many countries, according to the International Organization for Migration. But the largest number come from

Eritrea, a dictatorship so severe it is sometimes likened to North Korea. Western countries grant asylum to almost every arriving Eritrean. Eritrea drafts every man and woman as young as 18 into a brutal system of military service that frequently lasts many years and can amount to slave labor. To escape, hundreds of thousands of adults have fled, often to refugee camps across the border with Ethiopia. Each year, hundreds of unaccompanied children following the same footsteps walk into Ethiopia. The camps house more than 1,500 children without their parents, aid workers say. Efrem Fitwi and Hermon Angosom, 8-year-olds at the detention center, appeared in an earlier New York Times article about migrants in Libya. “I saw what happened to my brothers; I saw my future,” Efrem said. “We

don’t have any education,” he said, squatting on the dirt courtyard of the detention center and speaking Tigrinya, a language native to Eritrea and Ethiopia, while Zackarias translated. “My brothers and sisters don’t have any school. So we want to go to Ethiopia.” Most children who make the trek regret it as soon as they arrive, aid workers say. “They get stuck there in the camps,” Ms. Estefanos said. The camps are where the smugglers trawl for passengers. Eritrean boys in the Libyan detention center said their smuggler was Ermias Ghermay, an Ethiopian wanted by the Italian police for the drowning of 366 migrants off the coast of Lampedusa in 2013. Mr. Ghermay’s crew drove the children to Sudan, where the children said they called their

families. Hermon called his older sister, Haben, 22. She had recently traveled a similar route across the Mediterranean to Norway and pleaded with Hermon to turn back or stay in Sudan. But Hermon felt afraid to stay alone and unsure how to go back, he said in an interview. The smugglers held Hermon SLUG captive until his sister could sendSECTION enough money for the boat ride SIZE into the Mediterranean. He was captured almost immediately. ORIGIN Hermon was stoic at first. Then a visiting journalist said he had DATE reached Hermon’s father in Eritrea, who was glad to hear news of his son. At that, Hermon hid his face to weep, uncontrollably. Is my sister doing anything to help me, Hermon asked in a phone call with Ms. Estefanos. “You just concentrate on taking care of yourself,” Ms. Estefanos said she told him.

NEWS ANALYSIS

Chaos Rules in Ukraine Long After Revolution By DAVID M. HERSZENHORN

KIEV, Ukraine — The country is on the cliff of bankruptcy. A spate of politically motivated killings and mysterious suicides of former government officials has sown fear in the capital. Infighting has begun to splinter the pro-European majority coalition in Parliament. And a constant threat of war lingers along the Russian border. A year after the election of Petro O. Poroshenko as president to replace the ousted Viktor F. Yanukovych, and after the swearing in of a new legislature, Ukraine remains deeply mired in political and economic chaos. “Poroshenko, whether you like him or not, he’s not delivering,” said Bruce P. Jackson, the president of the Project on Transitional Democracies, an American nonprofit group. “The Ukrainian government is so weak and fragile that it is too weak to do the necessary things to build a unified and independent state.”

Efforts to forge a political settlement between the government in Kiev and Russian-backed separatists who control much of the eastern regions of Donetsk and Luhansk have hit a deadlock, despite a cease-fire in February calling for decentralization of power and greater local autonomy as the linchpins of a long-term accord. The shattered economy keeps sinking, with the gross domestic product plummeting 17.6 percent in the first quarter of 2015. Hoping to avoid default, senior officials have been in negotiations with creditors, but they have failed so far to secure a deal. Officials also now fret openly that more than $40 billion pledged by the International Monetary Fund and allies, including the United States and the European Union, will not be enough to keep the country afloat. In perhaps the greatest disappointment to the protesters who

A new government fails to root out endemic corruption. seized the center of Kiev last year, the new government led by Mr. Poroshenko and Prime Minister Arseniy P. Yatsenyuk has so far failed to deliver on promises to root out endemic corruption. Instead, it has become ensnared in new allegations of misconduct and charges of political score-settling. The Parliament, in which pro-European parties control a huge majority, voted last month to create a special committee to investigate accusations that Mr. Yatsenyuk and his cabinet have presided over the embezzlement of more than $325 million from the state.

The government and its supporters deny any wrongdoing. They point out that Parliament has adopted reform initiatives, notably overhauling the notoriously corrupt natural gas industry and installing new leadership at the national bank. Boris Lozhkin, Mr. Poroshenko’s chief of staff, said the president had five priorities: “de-shadowing, de-monopolization, de-oligarchization, deregulation and decentralization,” with de-shadowing referring to bringing new transparency to the economy and the government. “The oligarchy as a basis of the country’s political and economic life must cease,” Mr. Lozhkin said. But the confrontation has only added to a sense of fear in Ukraine, particularly among business figures and officials who had ties to the Yanukovych government. At least six such officials have

died in apparent suicides this year, and a seventh official, Oleg Kalashnikov, a former member of Parliament from Mr. Yanukovych’s Party of Regions, was shot dead outside his home in Kiev in April. While the government says it fears a renewed invasion by pro-Russian forces could come at any time, some analysts said there was little reason for renewing hostilities while the Ukrainian side was fighting with itself. “Russia is just waiting for the internal problems of Ukraine to make it less attractive for the West,” said Alexander Baunov of the Carnegie Moscow Institute, a research group. “Putin’s hope is Russia doesn’t need to make Ukraine weak,” said Mr. Baunov, referring to Vladimir V. Putin, the president of Russia. “Ukraine will be weak by itself, and he can just wait awhile and take advantage of its weakness sometime in the future.”

LIBYA for 1col x Sergio Graph 0506

Sanctity of Truth

THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, MAY 25, 2015

WORLD TRENDS

Fraudulent Diplomas, Issued On Global Scale

Fake Degrees, Huge Profits Axact, a Pakistani company, makes tens of millions of dollars annually by offering diplomas online through hundreds of fictitious schools. The Lure Fake accreditation bodies and testimonials lend the schools an air of credibility. But when customers call, they are talking to Axact sales clerks in Karachi — many of whom claim to be in the United States.

Continued from Page 23 centuries-old scam of selling fake academic degrees and turn it into an Internet-era scheme on a global scale. As interest in online education is booming, the company is aggressively positioning its school and portal websites to appear prominently in online searches, luring potential international customers. At Axact’s headquarters, former employees say, telephone sales agents work in shifts around the clock. Sometimes they cater to customers who clearly understand that they are buying a suspect instant degree for money. But often the agents manipulate those seeking a real education, pushing them to enroll for coursework that never materializes, or assuring them that their life experiences are enough to earn them a diploma. To boost profits, the sales agents often follow up with elaborate ruses, including impersonating American government officials, to persuade customers to buy expensive certifications or authentication documents. Revenues, estimated by former employees and fraud experts at several million dollars per month, are cycled through a network of offshore companies. All the while, Axact’s role as the owner of this fake education empire remains obscured by proxy Internet services, combative legal tactics and a chronic lack of regulation in Pakistan. “Customers think it’s a university, but it’s not,” said Yasir Jamshaid, a quality control official who left Axact in October. “It’s all about the money.” In a letter to The Times, lawyers for Axact issued a blanket denial of the report, accusing a Times reporter of “coming to our client with half-cooked stories and conspiracy theories.” But after The Times’s initial reporting on the matter, the Pakistani government ordered an investigation. The company’s offices in Karachi and Islamabad were shut down as investigators seized computers and files and detained some people for questioning. After the initial publication of this article, Axact posted a public response on its website, saying it would seek legal action. The statement posted on its website begins, “Axact condemns this story as baseless, substandard, maligning, defamatory, and based on false accusations and merely a figment of imagination published without taking the company’s point of view.” Also after publication, some of the testimonial videos and specific website contents cited in this article were taken down without explanation. In an interview in November 2013 about Pakistan’s media sector, Axact’s founder and chief ex-

Above, a degree from one of Axact’s fake schools.

After the Call Axact employees often follow up aggressively with previous customers, pushing them to buy more. Some pose as American officials, badgering clients to spend thousands of dollars on State Department authentication letters, which are either forged or illicitly secured. Payments are funneled through offshore firms. THE NEW YORK TIMES

ecutive, Shoaib Ahmed Shaikh, described Axact as an “I.T. and I.T. network services company” that serves small and medium-sized businesses. “On a daily basis we make thousands of projects. There’s a long client list,” he said, but declined to name those clients. The accounts by former employees are supported by internal company records and court documents reviewed by The New York Times. The Times also analyzed more than 370 websites — including school sites, but also a supporting body of search portals, fake accreditation bodies, recruitment agencies, language

Professors who are actors and campuses that are nonexistent. schools and even a law firm — that bear Axact’s digital fingerprints. In academia, diploma mills have long been seen as a nuisance. But the proliferation of Internet-based degree schemes has raised concerns about the use of fake diplomas in immigration fraud and about dangers they may pose to public safety and legal systems. Some have been caught. In 2007, for example,a British court jailed Gene Morrison, a fake police criminologist who claimed to have degree certificates from the Axact-owned Rochville University. The effects have sometimes been deeply disruptive. The police in Britain had to re-ex-

amine 700 cases Mr. Morrison had worked on. “It looked easier than going to a real university,” Mr. Morrison said during his trial. In the Middle East, Axact has sold aeronautical degrees to airline employees and medical degrees to hospital workers. One nurse at a large hospital in Abu Dhabi, United Arab Emirates, admitted to spending $60,000 on an Axact-issued medical degree to secure a promotion. In Pakistan, Mr. Shaikh portrays himself as a self-made tycoon and claims to donate 65 percent of Axact’s revenues to charity. Last year he announced a plan to educate 10 million Pakistani children by 2019. He said on the company’s website that he wanted to become “the richest man on the planet, even richer than Bill Gates.” He is working to become Pakistan’s most influential media mogul. For almost two years now, Axact has been building a broadcast studio and aggressively recruiting prominent journalists for Bol, a television and newspaper group scheduled to start this year. When reporters for The Times contacted 12 Axact-run education websites, representatives claimed to be based in the United States, denied any connection to Axact or hung up immediately. Two days after The Times first published its account, phone lines at some websites were not being answered. “Hands down, this is probably the largest operation we’ve ever seen,” said Allen Ezell, a retired F.B.I. agent and author of a book on diploma mills who has been investigating Axact. “It’s a breathtaking scam.”

Morality’s Bottom Line When Dan Price told his 120 employees last month that he was raising the pay of his lowest-paid workers to $70,000 a year, the video of his announceLENS ment went viral. Mr. Price, who founded a credit card payment processing company in Seattle, reported learning about a study that claimed an income of $70,000 made a big difference in a worker’s life. The nearly million dollars he earned seemed hard to justify when others were struggling, so he decided to cut his salary until the company, Gravity Payments, gets its profits back to where they are today. Mr. Price was either the best boss ever or a foolish businessman, depending

The ‘buy local’ trend is not always eco-friendly.

bread and chunky hand-knit scarves.” The problem is equating this consumer approach to a social good. “Like locavorism and ‘eco consumerism,’ it’s part of a troubling trend for neoliberal ‘all change begins with your personal choices’ ideology,” Ms. Matchar wrote. “This ideology is attractive: Buy something nice, do something good. But it doesn’t work, at least not very well.” Most people let value guide their buying, and few will pay for a $50 handmade scarf on a site like Etsy when they can get a perfectly good one at a chain store for $5. Buying local is not a solution to exploitative labor practices — better regulations, trade agreements and factory monitoring are more effective tools for that, Ms. Matchar said. And the myth of eco-friendliness is questionable. “Buying handmade (especially really locally) can greatly reduce your carbon footprint on the world,” reads a post on Handmadeology, one of the dozens of handmade-goods websites that have sprung up. But most economists believe that the economies of scale inherent in mass production outweigh the benefits of local buying, acGAIZKA IROZ/AGENCE FRANCE-PRESSE cording to The Times. Handmade goods enjoy an And when the idea of “buying local” goes too elevated moral status among far, it can work against affluent urbanites. those whose practices really are environmenon who was speaking in the tally friendly. ensuing media frenzy. Some When the urban food movewondered if he was at the forement goes hyperlocal and consumers pledge to eat only front of a new moral code in food produced within 160 kibusiness. One trend among affluent lometers of home, it ignores urbanites is the elevated stafarmers like Jerry Habets, a barley and lentil grower in tus of handmade goods, which Conrad, Montana. Mr. Habets many believe show their virconverted to organic so his soil tue, interest in sustainability could store more water, but hyand commitment to social justice, The Times reported. perlocal foodies on either coast A hand-knit sweater strikes a exclude his crops because of blow against sweatshop labor. his location. Supporting an artisan who Again, economists said the makes soap is a way to support local approach was not paryour community. ticularly eco-friendly since “Once a mark of poverty, transportation accounts for handmade is hot these days,” about 4 percent of the greenEmily Matchar wrote in The house gas emissions associatTimes. “Nothing seems to ed with the average American shout ‘upper-middle-class valdiet. “Even if you live hundreds ues’ like hand-carved wooden of miles away from Montana,” children’s toys, handmade Liz Carlisle wrote in The lavender soap from the farmTimes, “eating organic lentils ers’ market, artisan country grown there helps farmers reFor comments, write to sponsibly steward their land.” TOM BRADY nytweekly@nytimes.com.

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WORLD TRENDS

Sentenced to Death. In Liberal Boston? By KATHARINE Q. SEELYE, ABBY GOODNOUGH and JESS BIDGOOD

BOSTON — The finish line of the Boston Marathon is a landmark that has represented pride and achievement for those who stagger across it in one of the great races of the running world. Since bombs went off here two years ago, Boston has claimed the line as a symbol of how this city came together in the aftermath to tend to the dead and the maimed; it came to represent the city’s resilience. But since a federal jury on May 15 sentenced the convicted bomber to death, the finish line seems to be a place of ambivalence. Residents train their gaze on the line, and the conversations turn to death — and disappointment. “I was shocked,” said Scott Larson, 47, who works near the finish line. “The death penƒalty — for Boston.” To many, the death sentence feels like a blot on the city’s collective consciousness. Bostonians overwhelmingly opposed condemning the bomber, Dzhokhar Tsarnaev, to death. A Boston Globe poll found that just 15 percent of city residents wanted him executed. Statewide, 19 percent did. By contrast, 60 percent of Americans favored the death penalty, according to a CBS News poll. Three people were killed in the bombing, and more than 250 were seriously injured. Prosecutors said Mr. Tsarnaev, who immigrated from the Russian Caucasus with his family in 2002, and his older brother, Tamerlan, wanted to kill Americans in retaliation for the deaths of Muslims in the wars in Iraq and Afghanistan. Tamerlan was killed in a shootout with the police. No one here felt sympathy for

him. Rather, many thought life in prison would be a fate worse than death, especially for someone as young as Mr. Tsarnaev, 21. Others feared that putting him to death would make him a martyr. Still others reflected the region’s historical aversion to the death penalty. Neil Maher, who returned recently for a class reunion, said the verdict had surprised and disappointed him. “They ought to demonstrate a little humanity,” said Mr. Maher, 66. “Killing a teenager’s not going to do anything. I think it’s just a kind of visceral revenge. I think that in three years, the people of Boston and the people on the jury will feel bad about this decision.” He could not square the death sentence with the sense of Massachusetts exceptionalism that has pervaded Boston since 1630, when the Puritan John Winthrop said this spot in the New World would be “as a city upon a hill — the eyes of all people are upon us.” “The Chinese put a lot of people to death, and we put a lot of people to death, and almost nobody else in the world does,” Mr. Maher said. Jessica Brown, an editor for a technology company, said the sentence had taken her, too, by surprise. “I really thought they were going to do life in prison,” Ms. Brown said. “It raises the question of, should we react to murder with murder?” For her, the question hit close to home because she lives near Bill and Denise Richard. The couple’s 8-year-old son, Martin, was killed by one of the bombs — but they asked the government to drop its pursuit of the death penalty. Some of the survivors of the

SEAN PROCTOR FOR THE NEW YORK TIMES

The Boston Marathon finish line has symbolized the city’s resilience since the bombing. bombings and their relatives felt differently. Many supported the death penalty and expressed relief when word emanated from the courtroom that the jury had chosen it. Most were solemn, not triumphant. “I feel justice for my family,” said Liz Norden, who went to court almost every day during the trial and whose sons, Paul and J. P., lost legs in the blasts. “I have to watch my two sons put a leg on every day, so, I mean, I don’t know — closure? But I can tell you, it feels like a weight has been lifted off my shoulders.” The jurors themselves — the ones who sat in court day in and day out and heard the wrenching testimony of survivors, saw all the gruesome evidence and watched Mr. Tsarnaev slouch in his chair — were unflinching. They sentenced him to death after deliberating for 14 hours. Each juror had to be open to the death penalty; anyone who opposed it could not serve. In that sense, the federal jury did not reflect the population of the region. Massachusetts abolished the

death penalty in 1984 and has not carried out an execution since 1947. Some people favored the death sentence. Peggy Fahey, a lifelong Bostonian, said she believed that Mr. Tsarnaev had been treated too gently since his arrest and that death was what he deserved. “Oh, please, let him die. Enough is enough,” said Ms. Fahey, 78. “Why send him to a fancy prison out there in Colorado and let him be coddled again and let him be interviewed by Diane Sawyer — you know what I mean? Just be done with it.” But many more seemed to share the view of Priscilla Winter, 56, an elementary school teacher from Dorchester who was strolling along the South Boston waterfront. To her, the verdict felt morally wrong. “Martin Richard’s parents didn’t believe it was right, so how is anyone else supposed to?” Ms. Winter asked, her voice rising. “It didn’t happen to me,” she said. “I didn’t lose anybody. I didn’t lose a leg. I wasn’t there.

But to hear somebody who was affected that much — they lost a son — for them to be that way?” Ms. Winter’s walking companion, Liam Larkin, 57, said he lived around the corner from the Richards. Like them, he said, he wanted the closure that a life sentence would have brought. “I think the best way of punishing him would be to send him to the Supermax,” said Mr. Larkin, who works removing lead from old buildings. “It was horrendous what he did; it really was,” Mr. Larkin said. “But I don’t agree with the death penalty. Even if his brother was alive, and he was the one who instigated the whole thing, I’d say send him to Supermax, too. I think it’s a fit punishment for him, to be honest. More fitting than this.” Milton Pouncy, 47, said he wondered how much solace the death penalty could provide for survivors. “The families who lost people are still going to be numb. Maybe they’ll feel like a little bit of justice has been done, but all in all, it’s not going to bring their loved ones back.”

$179 Million Picasso and Global Inequality Continued from Page 23 firm partners. Hedge fund managers in the top 0.01 percent are similarly outperforming the C.E.Os. And the kind of people who can comfortably afford to pay a nine-figure sum for a Picasso, the top 0.001 percent, say, are doing still better than that. You can draw that conclusion by reading the work of the French economists Thomas Piketty and Emmanuel Saez. Or you can form it by looking carefully at the market for the work of a certain Spanish painter. Let’s assume, for a minute, that no one would spend more than 1 percent of his total net worth on a single painting. By that reckoning, the buyer of Picasso’s 1955 “Les Femmes d’Alger (Version O)” would need to have at least $17.9 billion in total wealth. That would imply, based on the Forbes Billionaires list, that there are exactly 50 plausible

buyers of the painting worldwide. This is meant to be illustrative, not literal. Some people are willing to spend more than 1 percent of their wealth on a painting; the casino magnate Steve Wynn told Bloomberg he bid $125 million on the Picasso this month, which amounts to 3.7 percent of his estimated net worth. The Forbes list may also have inaccuracies or be missing ultra-wealthy families that have succeeded in keeping their holdings secret. But this crude metric does show how much the pool of mega-wealthy art buyers has increased since, for example, the last time this particular Picasso was auctioned, in 1997. After adjusting for inflation and using our 1 percent of net worth premise, a person would have needed $12.3 billion of wealth in 1997 dollars to afford the painting. Look to the Forbes list for that year, and only a dozen families worldwide cleared that bar.

In other words, the number of people who, by this metric, could easily afford to pay $179 million for a Picasso has increased more than fourfold since the painting was last on the market. That helps explain the actual price the painting sold for in 1997: a mere $31.9 million, which in

More super-rich people are bidding on the same paintings. inflation-adjusted terms is $46.7 million. There were, quite simply, fewer people in the stratosphere of wealth who could bid against one another to get the price up to its 2015 level. More people with more money bidding on a more or less fixed supply of something can only

drive the price upward. The same dynamic applies for prime real estate in central London or overlooking Central Park, or for bottles of 1982 Bordeaux. That helps explain why the Picasso sale represented a 462 percent gain since its previous auction in 1997, a span in which the Standard & Poor’s 500 index returned 215 percent, including reinvested dividends. (The comparison isn’t entirely apt, in that the painting would have required spending each year on security, storage and insurance, lowering returns. On the other hand, the Picasso looks better on one’s living room wall than a mutual fund prospectus.) What does that mean for the future? There is no free lunch, even for people paying millions of dollars for a painted canvas. Art prices are vulnerable to fashion, of course. Picassos could go out of favor, relatively speaking, in the years ahead, in which case the anonymous buyer this month may not

see the same type of exceptional financial return the previous owner enjoyed. There are legal risks. Already, the Chinese government is cracking down on official corruption and particularly on showy displays of wealth, which could crimp Chinese demand for fine art in the years ahead. American and European authorities may wish to put further effort into preventing art transactions from being used to launder money or evade taxes, as the economist Nouriel Roubini has argued is commonplace. But any billionaire spending astronomical sums for a painting or sculpture should hope most of all that this basic global inequality trend — of the wealth of the ultrarich growing faster than the world population’s overall economy — remains intact. Because as long as it does, there could always be another buyer out there who could fuel a bidding war like the one that took place this month.

Sanctity of Truth

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MONDAY, MAY 25, 2015

WORLD TRENDS

Quakes Worsen Nepal’s Deficit of Young Men Many bodies prepared for cremation in Kathmandu were of young men from Gongabu, a common stopover for Nepali migrant workers headed overseas.

By ELLEN BARRY

K ATHMANDU, Nepal — When the dense pillar of smoke from cremations by the Bagmati River was thinning, the bodies were all coming from Gongabu, a common stopover for Nepali migrant workers headed overseas, and they were all of young men. Hindu custom dictates that funeral pyres should be lighted by the oldest son of the deceased, but these men were too young to have sons, so they were burned by their brothers or fathers. Sukla Lal, a corn farmer, made a 14-hour journey by bus to retrieve the body of his 19-year-old son, who had been on his way to the Persian Gulf to work as a laborer. “He wanted to live in the countryside, but he was compelled to leave by poverty,” Mr. Lal said. “He told me, ‘You can live on your land, and I will come up with money, and we will have a happy family.’ ” Nepal cannot afford how many young men were lost to the earthquakes of April 25 and May 12. Young men had already been leaving in great waves — 1,500 a day by some estimates — to work as laborers in India, Malaysia or one of the gulf nations, leaving many small communities populated only by elderly parents, women and children. Economists say that at some times of the year, one-quarter of Nepal’s population is working outside the country. Many of the children caught up in the earthquakes’ destruction were already growing up without fathers at home. Frail older people have been left to manage the aftermath on their own. And economists say that unless the government acts swiftly to create Chris Buckley contributed reporting.

DANIEL BEREHULAK FOR THE NEW YORK TIMES

work opportunities at home, the exodus of young people will accelerate, permanently handicapping the country’s ability to rebuild. “The government has to create a relief package if they want to retain them,” said Chandan Sapkota, chief economics officer at the Asian Development Bank in Kathmandu. “Somebody needs to plow the field, plant the rice. If these temporary migrants are given enough incentives to stay in the village, their first instinct would be to do that. But it has to be really fast.” The Asian Development Bank has downgraded its projections for economic growth in Nepal to 4.2 percent this year, from 4.6 percent before, but Mr. Sapkota said

the rate will be closer to 3 percent. The tourism industry, which had been contributing about 9 percent of the country’s output, is expected to drop sharply. The Gongabu neighborhood was one of the deadliest places in Kathmandu on April 25. It is an area where recruiting agencies housed young village men awaiting work overseas, with several thousand budget hotels and guesthouses crammed near the long-distance bus station. Among those killed in Gongabu was Ram Bahadur Chapagain, 26, whose body was distended and covered with flies after six days in the rubble. Three men hoisted Mr. Chapagain’s body on a plastic sheet and deposited it on the pyre.

One took a handful of water from the Ganges River and dripped it into the mouth, and then drizzled his body with clarified butter to speed the burning. Then they stacked the body with logs until only one hand could be seen dangling down, its fingers curled. Mr. Chapagain had been on his way to Saudi Arabia to work as a laborer, the men said. He had said his goodbyes to his family months earlier, when he had been told he would soon be boarding a flight for the gulf, but the recruiting agency kept announcing new delays, leaving him in limbo in Gongabu. The country’s young men were sorely missed as Nepal tried to cope with the earthquakes, ac-

cording to Kanak Mani Dixit, the founding editor of Himal Southasian magazine. It has been felt at funerals, where, according to custom, bodies are carried on bamboo poles without being laid down, sometimes for hours, until the burial party reaches a riverbed. Their absence had a profound effect when the earthquakes struck and elderly Nepalese were trapped without help. In Gongabu, Sumah Thapa, a longtime resident, was thinking about the young men who had been trapped in the guesthouses. “I don’t know them, but they are good men,” he said. “Going to foreign countries to work is hard, very hard. Now their families will have nothing.”

Confessions Flow as Police Torture Persists in China By ANDREW JACOBS

WUTIAN, China — It did not matter to the police that the man they seized in August 2013 was nearly 20 years older than the one wanted on fraud charges, that his cellphone number and a character in his name differed from those of the suspect, or that he repeatedly professed his innocence. A week later, after interrogations that involved hanging him by his wrists and beating him into unconsciousness, they got what they wanted from Chen Jianzhong, an illiterate vegetable wholesaler: his fingerprint on a confession they had written. “I was so delirious I barely remember anything,” said Mr. Chen, 51, who spent more than 17 months in jail before he was exonerated and walked out a free man. With one of the highest conviction rates in the world, prosecutors and the police in China rarely lose a case. In Wutian, where Mr. Chen returned home in February, people believe they know why: Many convictions in China dePatrick Zuo and Mia Li contributed research.

pend on confessions that lawyers, legal experts and defendants say are obtained through coercion. The prevalence of forced confessions has long been an embarrassment to Beijing, which ratified an international treaty against torture in 1988. After a string of revelations about innocent people who were imprisoned and sentenced to death, China’s leaders have vowed to improve the judicial system. The nation’s legislature and its highest court have issued rulings that prohibit courts from using evidence obtained through abuse. Pretrial detention centers have been required to install video cameras. But Chinese lawyers and human rights advocates say the measures have had limited impact on a police system that has made obtaining a confession the centerpiece of its efforts. “Unless they kill or seriously injure a defendant during interrogation, there are almost no consequences for police,” said Maya Wang, China researcher at Human Rights Watch, which issued a report documenting scores of cases in which suspects were

convicted despite claims of having endured brutal interrogation. “If anything, the police have gotten better at inflicting pain without causing serious injuries.” Human Rights Watch found that judges routinely ignore signs of torture. The report examined 432 verdicts since 2014 in which suspects claimed to have been mistreated. Judges invalidated

Judges, prosecutors and police collude to ensure convictions. evidence in just 23 cases but still declined to acquit the defendants. The persistence of coercive interrogations and false confessions illustrates one of the most fundamental challenges that the Communist Party faces in turning laws into practice. The nation’s powerful domestic security apparatus enjoys wide latitude in carrying out its mission of pro-

moting social stability. In 2013, Chinese courts had an acquittal rate of just 0.07 percent, according to government figures. Defense lawyers say some of the worst abuses occur in cases involving organized crime, dissidents accused of political offenses and detainees in Tibet and Xinjiang, where security personnel are dealing with ethnic unrest. Legal experts say the crux of the problem lies with China’s party-run judiciary, a system in which the police, prosecutors and judges work together to ensure convictions. Even when faced with irrefutable evidence that a defendant is innocent, Chinese judges will work out a solution with prosecutors to have the charges dropped to avoid an acquittal and subsequent claims for compensation by defendants. Many local police departments lack the forensic and investigative expertise to collect evidence, experts say. “To nail a case with a confession is the simplest and most convenient way,” said He Jiahong of the Law of Evidence Research Institute at Renmin University in Beijing.

This is apparently what the police thought when they led Mr. Chen, the vegetable wholesaler, off a plane in Beijing. When the officers announced he was wanted for producing counterfeit cigarettes in Raoping, Mr. Chen laughed. “You clearly have the wrong guy,” he said, explaining that he had stepped foot in Raoping only once — in the 1990s. After being escorted about 2,000 kilometers south, Mr. Chen was questioned overnight in the basement of the Raoping police station, where he was tortured. The pain — and a promise to set him free — persuaded him to press an inked finger to a written confession. He spent the next seven months at a fetid detention center. Seven months later, his two alleged accomplices told the judge they had the wrong man. Yet he was still held for almost another year. Mr. Chen has been seeking an apology from the police and an investigation into the men who tortured him. He knows he stands little chance of satisfaction. “I’m just a vegetable seller,” he said. “What can I do?”

MONDAY, MAY 25, 2015

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Sanctity of Truth

MONEY & BUSINESS

Start-Ups Focusing on Mobile Search Challenge Google By CONOR DOUGHERTY

SAN FRANCISCO — A growing number of entrepreneurs are betting that the rise of mobile phones has created an opportunity to do what once seemed unthinkable: to challenge Google in search. One of those who hopes to take on Google is Bobby Lo, the founder of Vurb, a start-up in San Francisco’s bustling downtown that has a new kind of search engine meant for mobile phones. The idea is to take several common queries — restaurants, movies — and group them into snippets of information and apps for related actions. Mr. Lo is one of a growing number of entrepreneurs who are betting that the rise of mobile phones has created an opportunity to do something that once seemed unthinkable: to challenge Google in search. After a decade in which entrepreneurs and investors steered clear of Google’s home turf, venture capitalists have plowed hundreds of millions of dollars into dozens of search start-ups because they say they believe the Internet giant cannot dominate search on mobile devices the way it has on personal computers. “There has been no great solution for mobile search,” Mr. Lo said. Venture capitalists financed 27

search companies in 2014 and 33 the year before — the two most active years on record, according to CB Insights, whose data on the venture capital industry goes back to 1999. The biggest jump has been in mobile search companies, according to a report CB Insights released in March, particularly companies that use “deep links” to connect mobile applications the way websites are linked on the web. Each of these search compa-

Entrepreneurs see an opportunity with smartphones. nies has a slightly different take. Quixey, which has raised $135 million in venture capital, according to CB Insights, features a traditional-looking search box that helps people find information inside apps, as well as functions, such as a button to order a cab. A company named URX is trying to link apps so that people can perform related actions by hopping between them. Other

ideas include putting search inside mobile messaging systems or creating new home-screen applications that use past behavior to predict what a user might want next — a concept Google has invested in already. “If you ask 100 people whether search is broken or not, 99 would say Google is perfect; it’s everything I need,” said John Lilly, a partner at Greylock Partners, which has backed a search startup called Jack Mobile. “But if you ask them, ‘How are you going to figure out what you want to watch on TV tonight or where are you going to dinner?’ they would say Google wouldn’t know that, that’s not search.” An entrepreneur named Mike Farmer is developing Leap.it, a visual search engine whose results are full of pictures and cued-up videos. “The very moment you believe that the game is over is the very moment that the environment exists to introduce something completely new,” said Mr. Farmer, who works out of his house in Kansas City, Kansas. Behind the new companies is a conviction that people use mobile phones so differently than they do desktop and laptop computers that the search business is ripe for an overhaul. “Anytime there is a platform change, every-

QUIXEY

Quixey features a search box to help people find information inside apps. thing is up for grabs,” said Keith Rabois, a partner at Khosla Ventures, which has backed a company called Relcy. The most obvious difference with mobile is that people always have their phones with them, giving search companies lots of contextual clues — like location — for what they might want. That is the main idea behind Vurb. When someone uses Vurb to search for a movie, it returns a single page with reviews, cast members and nearby theaters, along with links to buy tickets and the option to call a cab. When a user searches for an old movie, the service fetches streaming ap-

plications like Netflix. “If I’m searching for a movie, chances are I want to do a couple of things related to that,” Mr. Lo said. This year, smartphone users in the United States are projected to spend 81 percent of their time on the mobile Internet inside applications, and 19 percent on the web, according to eMarketer. Of course, Google has no plans to cede its hold on search. The company has amassed 30 billion “deep links” so that its search engine can return information from apps as well as the web, and the company’s engineers are busy reimagining its search business for mobile phones. The company’s biggest bets have been a voice-searching tool, along with Google Now, an application that tries to predict what users are looking for by showing a stack of cards with timely information, using cues like coming events in the user’s emails or recent activities on mobile apps and the web. Aparna Chennapragada is director of product management in Google’s search business. Like her start-up competitors, she is still unsure exactly what people want. “Google Now is such an early effort,” she said. “We’re still trying to figure it out.”

Malta’s Newest Citizens Can Live Anywhere By JENNY ANDERSON

VALLETTA, Malta — As wealthy foreigners rush to get citizenship in Malta under a new program, the residency requirement is taking many forms. Russians rent high-end villas, then stay in five-star hotels when they visit. An American financier plans to live in Switzerland but occasionally vacation in Malta. One Vietnamese businessman, eager to start the clock ticking on the 12-month timetable for residency, sent the necessary paperwork on his private jet to ex-

Criticism for the sale of passports to the global rich. pedite renting a property he had never seen. “They come twice, once to get a residency card and once to get a passport,” said Mark George Hyzler, an immigration lawyer. Malta’s citizenship program, which offers a passport to those willing to pay 1.2 million euros, about $1.3 million, has been controversial since it was introduced. Critics say the program has resulted in the sale of citizenship to the global 0.1 percent. Applicants must show they have rented a property in Malta for 12 months. But they do not have to spend any time in this

Mediterranean island nation. “It is questionable how the residency requirement is being applied,” said Tonio Fenech, a member of Malta’s Parliament. Lawyers, accountants and real estate agents say the citizenship program has catapulted Malta onto the radar of the global elite. Applications are pouring in, and the program aims to raise €2 billion, more than a quarter of Malta’s gross domestic product. “We want to attract individuals who can add value to our country because of their ideas, and their networks and their businesses and their talent,” said Jonathan Cardona, who helps administer the citizenship program. Housed in a 16th-century building, the Malta citizenship program nods to the country’s multicultural past, punctuated over the years by invasion. The Phoenicians, Carthaginians, Romans, Byzantines, Fatimids, Normans, Sicilians, Spanish, French, a European lay religious order and the British all tried to conquer or rule Malta, and many succeeded. Maltese, the official language with English, looks and sounds Arabic, but its speakers are primarily Roman Catholics who pray to Allah. The citizenship program also reflects Malta’s present. Malta, which covers 315 square kilometers and is about 80 kilometers south of Sicily, has few natural resources and a population of just 424,000. It counts on the reliable sun and shimmering blue sea to

DARRIN ZAMMIT LUPI FOR THE NEW YORK TIMES

Citizenship can be had for 1.2 million euros in Malta. Fort St. Angelo in Valletta’s port. attract tourists. Beyond that, it has had to be creative to keep the country’s treasury filled. The tax system, in particular, has been a boon. Some foreign companies can be structured to pay 5 percent in corporate taxes. Malta also has double taxation treaties with 65 countries, a llowing individua ls and businesses to avoid being taxed in two places. Significant tax advantages and a pro-business regulator have created a booming financial services industry. It now represents 12 to 15 percent of the country’s G.D.P., up from 6.3 percent in

2004. Online gambling companies have flocked to the island, as have hedge funds. Malta wanted to expand its economic growth through the citizenship program. Under the initial plan in 2013, the Labor Party government proposed selling passports for €650,000. Almost immediately, it drew protests. The government established strict due diligence standards for citizenship to weed out money launderers and criminals. It also raised the cost and adopted a residency requirement. In addition to the €650,000 fee

to the government, applicants must now invest €150,000 in government bonds, buy property for at least €350,000 or rent a place for at least €16,000 a year — all of which must be held for at least five years. Mr. Cardona said it was “unrealistic” to expect applicants to spend too much time in Malta. As he walked to his office, he passed one Chinese billionaire and his entourage in a small conference room. In another room, a Turkish magnate waited to get his photograph for a residence card. “We want to attract the real highfliers,” Mr. Cardona said.

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MONDAY, MAY 25, 2015

MONEY & BUSINESS

London Real Estate Sizzles Off Campus By JENNY ANDERSON

LONDON — Joyce Ge, a student from China studying business management at King’s College, pays 880 pounds a month, or $1,310, to live in a tiny, stylish studio apartment in the far reaches of east London, in a building with roof decks gazing toward the distant city skyline. Her rent covers water and electricity, as well as Wi-Fi and cleaning of common spaces every two weeks. Many investors are betting that there will be a lot more Joyce Ges arriving in the coming years. Their bet is a simple one: As students from the world’s growing middle and upper classes flock to London for higher education, the supply-demand imbalance in student housing will grow. Student housing is a red-hot corner of the city’s property market that has tempted inter-

Big investors follow a demand for space off campus. national pension funds, major private equity players and real estate giants to build up or sell off large portfolios of buildings for handsome profits. The values of many of these portfolios are rising (and consequently, yields are falling) as a result of the intense investor interest. About £3.5 billion in student housing deals have been struck so far in 2015, more than double the amount in 2014, according to the real estate consulting firm JLL. “The volume has increased dramatically, and the values per bed have risen significantly,” said Philip Hillman, the head of student housing at JLL. Among the transactions are the Canadian Pension Plan Investment Board’s £1.1 billion purchase of Liberty Living. Previously, universities provided housing to students, or

students teamed up to rent together. The housing was shabby and “customer service was not a concept here,” said one investor. But, in the 1990s, the private sector jumped in. Companies that developed properties and then managed them sprouted, and grew. Some took on too much debt. During the financial crisis, private equity players like Blackstone and Carlyle stepped in to scoop up these properties, building up portfolios of student housing and creating the scale to attract institutional investors. Britain has 1.8 million fulltime students, foreign and domestic combined. But to illustrate the shortage, only about 525,000 purpose-built student housing beds are available. These can be rooms to rent, a combination of what universities can offer and what the private sector leases — either directly to students or via an agreement with the higher education institutions. About 220,000 of those beds are commercial properties, according to JLL. Rents have been rising 3 percent to 4 percent a year with occupancy rates at 97 percent to 99 percent. Even after significantly steeper university fees were introduced in 2012, the market still grew. Investors say growth is robust and nearly recession-proof. The five-year growth rate of international students has been 20.3 percent, compared with 8.3 percent for European Union students and only about a 1 percent increase for the domestic market. Universities are eager to attract foreign students because they pay more in fees. And student accommodation providers say they pay a lot more for their housing, too. British students are disquieted. “All the new builds are high-end and expensive and marketed to international students,” said Colum McGuire, vice president for welfare for the National Union of Students. “Other students have to scrape to live in them.”

ANDREW TESTA FOR THE NEW YORK TIMES

Joyce Ge, a student from China at King’s College, pays 880 pounds a month for her small apartment.

PHOTOGRAPHS BY JAMES HILL FOR THE NEW YORK TIMES

Cheese in Demand in Russia By ANDREW E. KRAMER

GOLOVKOVO-MARINO, Russia — The goat cheese produced at Koza Nostra, a five-hectare farm in this village 120 kilometers north of Moscow, had largely been a labor of love. The farm had been losing more than $5,000 a month. Then Russia was hit by Western sanctions over the Ukraine crisis, and Moscow retaliated by banning European cheese and other products. Practically overnight, the farm’s phones started ringing with orders. Restaurant chefs and grocery store managers were clamoring, “ ‘We want cheese, we want cheese,’ ” said Daniel G. Sokolov, who manages the farm with his wife, Maria V. Sokolova. The farm now churns out up to 64 kilograms of goat cheese a day, some selling for as much as $30 a kilogram. “The sanctions really made us happy,” Mr. Sokolov said. Across the country, dairy farms suddenly have a new purpose: keeping Russia in Brie, Camembert, mozzarella and ricotta through these geopolitically difficult times. In Moscow, the cheese counter at the hip, locavore grocery store LavkaLavka groans under the weight of rounds of specialty cheese from half a dozen local farmers. One small dairy, Mosmedyn, says it is doing well focusing just on mozzarella, which it sells into the tight Moscow cheese market. “We can’t keep Camembert on the shelf,” said Olga Makarova, a saleswoman at LavkaLavka, which sells Koza Nostra cheese among others. “People buy it. Then they come back for more and more.” It is the rare bright spot in Russia’s economy. Financial firms have been ravaged by Western sanctions. Oil giants are facing the additional headwind of low oil prices. And consumer-oriented businesses are suffering from the general economic malaise. But cheese makers and other agricultural producers are thriving. Even as the Russian economy is shrinking over all, cheese and curd production by volume was up 16 percent in the first

Dmitry A. Markitan making cheese at Koza Nostra, a farm north of Moscow, and a goat waiting to be milked.

quarter compared with a year earlier, according to the federal state statistical agency. Cheese is an unlikely success story in Russia. As the oil boom bolstered the country’s economy over the last decade, the emerging middle class increasingly had a taste for European cheeses. Products from France, Italy and the Netherlands flooded the Russian market. “Cheese is just like oil; if you

In spite of import bans, getting Brie to Moscow stores. produce a lot of it, the price will fall,” said Dmitry A. Markitan, the master cheese maker at Koza Nostra farm. “It became cheaper to buy it in Europe than make it in Russia.” Russia has its own specialties. But domestic dairies largely churned out a standardized product, often sold under the brand Friendship Cheese. Based on a recipe from the Vologda region, the cheese, which is slightly tangy and medium hard in yellow and white hues, is usually inferior to imports and struggled to compete. In recent years, smaller farms

have been aiming to create European-style fine cheeses for the budding Russian artisanal food movement. W hen sa nctions were imposed, they were well positioned. “We feel the demand,” said Lyudmila Presnyakova, who runs a dairy south of Moscow that makes blue cheese varieties, called Lyudmila. “There are no imports, but people want to eat cheese. People call.” The newfound success is evident at Koza Nostra, whose name is a play on the Russian word for goat, koza, and the term for Italian organized crime, Cosa Nostra. The barns are freshly painted. The farm bought a new billy this year, a purebred Anglo-Nubian goat, increasing the herd to 154. The cheese — the farm makes a crème de chèvre, a ricotta, a bûche de chèvre and a Camembert, among other varieties — is rolling out the doors to grocery stores and upscale restaurants in the capital. The farm sells out of each cheese run. But Koza Nostra is feeling the bite from sanctions. With banks constrained by the bans, the interest rates on small-business loans are running at 20 percent and higher. So the farm cannot get financing to expand operations significantly. Without financing, the Russian cheese boom could reach a limit. Government-subsidized loans are just now becoming available. Mr. Sokolov, referring to Russian officials who banned imports said, “After they introduced these sanctions, they realized our agriculture was flat on its back.”

MONDAY, MAY 25, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

SCIENCE & TECHNOLOGY

Featherless Dinosaur With Gear to Soar By JOHN NOBLE WILFORD

Over the last two decades, scientists in China have paraded one surprising dinosaur discovery after another, enough to rewrite textbooks and even impress dinophile first graders. Some of the smaller newfound creatures, it turns out, had feathers, which shifted expert thinking to the dinosaurian origin of birds. Now a discovery of 160-million-year-old fossils in northeastern China, reported in the journal Nature last month, calls attention to a dinosaur species that may have tried to take to the air on featherless wings. It was

A winglike structure on an animal not built for flight. one of presumably many experiments in early flight that failed the test of time and was eventually abandoned. Scientists are not even sure how it was supposed to work. After studying findings by a Chinese-led team of paleontologists, Kevin Padian, an American dinosaur authority, said he could only think that the attempted flight innovations “have just gone from the strange to the bizarre.” The fossil remains belonged to a previously unknown species of an obscure group of small dinosaurs, related to primitive birds such as the famous Archaeopteryx. It had feathers, but they seemed too insubstantial to be useful in flight. Then the scien-

tists said they recognized the unusually long rodlike bone extending from each of the two wrists: curving structures possibly supporting an aerodynamic membrane. Patches of membrane tissue were detected along the bone supports. The scientists concluded their specimen must have had wings somewhat like those of bats or flying squirrels. Nothing like this had been found before in dinosaurs. The research team, led by Xu Xing of the Institute of Vertebrate Paleontology and Paleoanthropology in Beijing and Zheng Xianoting of Linyi University in Shandong Province, named the specimen Yi qi (pronounced “ee chee”), meaning “strange wing” in Mandarin. “No other bird or dinosaur has a wing of the same kind,” Dr. Xu said in a statement issued by the Beijing institute. “We don’t know if Yi qi was flapping or gliding, or both, but it definitely evolved a wing that is unique in the context of the transition from dinosaurs to birds.” Yi qi belongs to a group of carnivorous dinosaurs found so far only in Chinese fossil beds, and the few related species had no apparent flight capabilities. The group is called scansoriopterygids. In an aside, Dr. Xu said Yi qi may be the shortest name ever given to a dinosaur. In a commentary in Nature, Dr. Padian, a paleontologist at the University of California, Berkeley, who was not part of the discovery team, said the examination of the fossils, found by a farmer in Hebei Province, had been meticulous “to be sure none of its elements had been faked or restored.” He said the researchers wise-

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An artist’s impression of Yi qi, a small dinosaur that may have had batlike wings. ly did not commit themselves to whether this animal could flap its wings or glide, or both, or neither. No evidence presented so far, he added, showed that Yi qi had the ability for powered flight. The preservation of the wing membrane was incomplete, and there is uncertainty about the configuration of this wing support apparatus. Also, most of the dinosaur’s body below the rib cage is miss-

ing. This leaves unanswered the important question of whether the animal’s tail created lift or drag in any kind of flight. Other discoveries will have to be made. “We are left in a quandary,” Dr. Padian concluded. This dinosaur has a strange wing structure, he said, “that looks like it could have been used in flight, borne by an animal that otherwise shows no such tendencies.” And so far,

he continued, “there is no other possible explanation for the function of this structure.” Dr. Zheng, an author of the journal report, noted that Yi qi lived in the Jurassic Period, in the middle of the Age of Dinosaurs and early in the evolution of flight on the line to birds. “It reminds us,” he said, “that the early history of flight was full of innovation, not all of which survived.”

Scientist’s Proposal for Climate Modeling Bypasses Supercomputers By JOHN MARKOFF

Creating a supercomputer that can model the future of the planet is perhaps the most daunting challenge facing climate and computer science experts. The task would require running an immense set of calculations for several weeks and then recalculating them hundreds of times with different variables. Such machines will need to be 100 times faster than today’s supercomputers. If such a computer were built today, a so-called exascale computer would consume electricity equivalent to 200,000 homes and might cost $20 million annually to operate, contributing to global warming. For that reason, scientists are waiting for low-power computing techniques capable of significantly reducing the power requirements for an exascale computer. But Krishna Palem, a computer scientist at Rice University in Texas, believes he has found a shortcut. By stripping away the transistors that add accuracy, it

will be possible to cut the energy demands of calculating while increasing performance speeds, he claims. “Scientific calculations like weather and climate modeling are generally, inherently inexact,” Dr. Palem said. “We’ve shown that using inexact computation techniques need not

‘Inexact’ approach should work for climate researchers. degrade the quality of the weather-climate simulation.” Climate models use an immense set of differential equations that simulate the interaction of physics, fluid motion and chemistry. To create models, scientists turn the world into a three-dimensional grid and compute the equations. Cur-

rent climate models used with supercomputers have cell sizes of about 100 kilometers, representing the climate for that area of Earth’s surface. To accurately predict the long-term impact of climate change will require shrinking the cell size to a kilometer. Such a model would require more than 200 million cells and roughly three weeks to compute one simulation of climate change over a century. “We can’t do a lab experiment with the climate,” said Tim Palmer, a University of Oxford climate physicist. “We have to rely on these models which try to encode the complexity of the climate, and today we are constrained by the size of computers.” Dr. Palem says computing the rate of global warming may be possible with a computer that would use specialized low-power chips to solve a portion of the problem. He describes his approach as “inexact” computing. The stated goal of the engineers who are trying to design an exascale computer is to stay

within a power budget of 30 megawatts, experts say. Dr. Palem has been imploring the computing world to back away from its romance with precision for years. He has recently developed allies among climatologists like Dr. Palmer, who in the journal Nature recently called on the climate community to form an international effort to build a machine fast enough to solve basic questions about the rate of global warming. Not everyone is convinced Dr. Palem’s computer architecture ideas will be applicable. “For consequential problems, where inexact results could cause a bridge to be misdesigned, or erroneous conclusions about the mechanics of climate, the inexactness is problematic,” said John Shalf, department head for computer science at the Lawrence Berkeley National Laboratory. Dr. Palem and Dr. Palmer are trying to overcome these objections. “It’s a trivial amount of money when you think of climate impact

MICHAEL STRAVATO FOR THE NEW YORK TIMES

Dr. Krishna Palem wants science to back away from its romance with precision. being in the trillions of dollars,” Dr. Palmer said. “It’s actually an existential question. If it’s at one end of the spectrum, we can adjust, but if it’s at the other end of the spectrum, we’re not going to come out of it unless we cut emissions in the next decade.”

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THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, MAY 25, 2015

SCIENCE & TECHNOLOGY

Food May Be Too Clean For Our Gut’s Own Good By KATE MURPHY

With the recent recalls of millions of liters of ice cream as well as several tons of hummus, pine nuts, frozen vegetables and various meat products, you might think the American food supply is an unholy mess. It’s not. It’s arguably the safest in the world. Yet despite continually improving processing methods and quality controls, the number of cases of food-borne illness has remained high since the 1990s, with the incidence of people getting sick from some pathogens increasing. Some experts wonder if we’ve reached a point of diminishing returns in food safety — whether our food could perhaps be too clean. Industrial food sanitation practices — along with home cooks’ antibacterial veggie washes, chlorine bleach kitchen cleaners and sterilization cycle dishwashers — kill off so-called good bacteria naturally found in foods that bolster our health. Moreover,

Germaphobia, and immune systems that may get bored. eliminating bad or pathogenic bacteria means we may not be exposed to the small doses that could inoculate us against intestinal crises. “No one is saying you need to eat a peck of dirt before you die to be healthy,” said Jeffrey T. LeJeune, a professor and head of the food animal research program at Ohio State University in Wooster. “But there is a line somewhere when it comes to cleanliness. We just don’t know where it is.” The theory that there might be such a thing as “too clean” food stems from the hygiene hypothesis, which has been gaining traction over the last decade. It holds that our modern germaphobic ways may be making us sick by harming our microbiome, which is the system made up of all the microbes — bacteria, viruses, fungi, mites — that live in and on human bodies. Research so far has focused primarily on the detrimental effects of cesarean births and not breast-feeding, which may inhibit the formation of a robust micro-

biome, and the use of antibacterial soaps and antibiotics, which diminish the microbiome once it is established. A result of a diminished microbiome is an immune system that gets bored, spoiling for a fight and apt to react to harmless substances and even attack the body’s own tissues. This could explain the increasing incidence of allergies and autoimmune disorders such as asthma, rheumatoid arthritis and inflammatory bowel disease. There is also the suggestion that a diminished microbiome disrupts hormones that regulate hunger, which can cause obesity. When it comes to food-borne illness, the idea is that fewer good bacteria in your gut means there is less competition to prevent colonization of the bad microbes, leading to more frequent and severe bouts of illness. Moreover, an underutilized immune system may lose its ability to discriminate between friend and foe, so it may marshal its defenses inappropriately (against gluten, for example) or not at all. There has been some research to support the effectiveness of consuming harmless bacteria, known as probiotics, in reducing the likelihood of gastrointestinal infection. There are ethical issues involved in dosing humans with known dangerous pathogens like salmonella and listeria. But animal experiments have lent some credence to the theory. Researchers at Texas Tech University in Lubbock have found that guinea pigs fed less virulent strains of listeria are less likely to get sick or die when later fed a more pathogenic strain. And anyone who has visited a country with less than rigorous sanitation knows the locals don’t get sick from foods that can cause tourists days of toilet-bound torment. “We have these tantalizing bits of evidence that to my mind provide pretty good support for the hygiene hypothesis, in terms of food-borne illness,” said Guy Loneragan, a professor of food safety and public health at Texas Tech. This is not to say we’d be better off if chicken producers eased up on the salmonella inspections, we ate recalled ice cream sandwiches and didn’t rinse our produce. But it raises questions about whether it might be advisable to eradicate microbes more selectively.

INÉS ESTRADA

KEVIN LILES FOR THE NEW YORK TIMES

The Ebola That Hid in His Eye By DENISE GRADY

ATLANTA — When Dr. Ian Crozier was released from Emory University Hospital in October after a long, brutal fight with Ebola that nearly ended his life, his medical team thought he was cured. But less than two months later, he was back at the hospital with fading sight, intense pain and soaring pressure in his left eye. Test results were chilling: The inside of Dr. Crozier’s eye was teeming with Ebola. His doctors were amazed. Months had passed since he became ill while working in an Ebola treatment ward in Sierra Leone as a volunteer for the World Health Organization. By the time he left Emory, his blood was Ebola-free. Almost nothing was known about the ability of Ebola to lurk inside the eye, but despite the infection, Dr. Crozier’s tears and the surface of his eye were virus-free, so he posed no risk to anyone who had casual contact with him. More than a year after the epidemic in West Africa was recognized, doctors are still learning about Ebola and its lingering effects on survivors. Now, however, with at least 10,000 survivors in Guinea, Liberia and Sierra Leone, patterns are emerging. Dr. Crozier, 44, calls himself a poster child for “post-Ebola syndrome.” Besides eye trouble, he has had debilitating joint and muscle pain, deep fatigue and hearing loss. At ELWA Hospital in Monrovia, Liberia, run by the missionary group SIM, Dr. John Fankhauser, the medical director, said such ailments were the most common physical problems among the hundred or so people attending a special clinic for Ebola survivors. In Sierra Leone, the picture is much the same, according to Dr. John S. Schieffelin, a physician from the Tulane University School of Medicine in New Orleans who volunteered there. He said a well-organized survivor group met regularly in Kenema. “The main problems they’re telling me about are lots of body and joint pains, chronic headaches and women who stopped having menstrual periods, and for some it’s been several

EMORY EYE CENTER

Dr. Ian Crozier thought he had recovered from Ebola, but doctors found it in his eye, which turned from blue to green. Dr. Steven Yeh examined Dr. Crozier in March. months,” Dr. Schieffelin said. “There’s quite a bit of vision problems.” The inside of the eye is mostly shielded from the immune system to prevent vision damage. The barriers are not fully understood, but they include tightly packed cells in minute blood vessels that keep out certain cells, along with unique biological properties that inhibit the immune system. But this “immune privilege” can sometimes turn the inner eye into a sanctuary for viruses. The question was whether Dr. Crozier’s sight could be saved. Severe inflammation suggested that the barriers that normally protect the eye from the immune system had been

Lessons that can help other survivors avoid blindness. breached. So what was damaging Dr. Crozier’s eye? The virus, the inflammation or both? The usual treatment for inflammation is steroids. But they can make an infection worse. “What if it unleashed the virus?” Dr. Crozier said. “We were on a tightrope.” Though Dr. Crozier was the patient, he was also part of his own medical team, and his focus on the scientific details helped counter his mounting fear that he was going blind. As he and his physicians struggled to balance treating the inflammation with fighting the infection, his eyesight continued to deteriorate. He also had significant hearing loss on the same side. “The whole left side of your life is

gone,” he said. “It was a very dark and depressing time.” The biggest shock came when he glanced in the mirror one morning and saw that his eye color had changed from bright blue to a vivid green. “It was like an assault,” he said. “It was so personal.” Dr. Jay Varkey, an infectious-disease specialist who had handled much of Dr. Crozier’s care, got special permission from the United States Food and Drug Administration to use an experimental antiviral drug taken in pill form. (The doctors declined to name it.) At first, there seemed to be no effect. But a week or so later, Dr. Crozier realized that if he turned his head this way and that, he could find “portals” through the obstructions in his eye. His sight returned in a few months, and his eye turned blue again. Was it the antiviral drug? He cannot be sure, but he thinks so. Dr. Varkey said, “I think the cure was Ian’s own immune system.” He said he suspected the treatments had reduced Dr. Crozier’s symptoms and helped preserve his sight long enough for his immune system to kick in and clear out the virus — just as supportive care during the worst phase of his initial illness had kept him alive until his natural defenses could take over. Dr. Crozier believes information from his case may help prevent blindness in Ebola survivors in West Africa. In April, he headed to Liberia with Dr. Steven Yeh, an ophthalmologist, and several other Emory physicians to see patients who had recovered from Ebola and examine their eyes. “Maybe we can change the natural history of the disease for survivors,” Dr. Crozier said. “I want to start that conversation.”

MONDAY, MAY 25, 2015

THE NEW YORK TIMES INTERNATIONAL WEEKLY

Sanctity of Truth

PERSONALITIES

M A RG RET H E V ESTAG E R

An ‘Iron Lady’ Takes on Google in Europe By NATASHA SINGER and JAMES KANTER

Margrethe Vestager, the European Union’s commissioner for competition who has taken on Google, has a reputation for toughness. She is also an accomplished knitter, and last year, as Ms. Vestager was leaving her job as Denmark’s minister of the economy, she gave her successor a hand-knit toy elephant — she often works on them during staff meetings — noting that the animals “bear no grudge, but they remember well.” That is something of a motto for Ms. Vestager, who has filed formal antitrust charges against Google, saying that the search engine giant had abused its market dominance by systematically favoring its own comparison shopping service over those of its rivals. “It was obvious that a negotiated solution was not a possibility,” Ms. Vestager said. “So I felt we should go in another direction.” Ms. Vestager, 47, took over as the European antitrust chief last autumn. As Denmark’s minister for the economy and the interior, she pushed for substantially curtailing unemployment benefits, and came to be known in certain circles as the “Iron Lady of Denmark.” “You can accuse Margrethe Vestager of many things,” said Bo Lidegaard, the editor in chief of Politiken, a Danish newspaper, “but not of being afraid.” Of her approach to her new job, Ms. Vestager said: “Consumers depend on us to make sure that competition is fair and open, and it’s my responsibility to make that happen.” Martin Krasnik, the host of a

CHRISTINA HOLM-EIBERG

Margrethe Vestager likes to knit elephants during meetings. Riding to meet with the queen in 2011.

LINDA HENRIKSEN/EUROPEAN PRESS AGENCY

“It was obvious that a negotiated solution was not a possibility.” late-night Danish current affairs television show, describes Ms. Vestager as the most impenetrable politician he has ever interviewed. “It’s about power. Any deal she makes, it’s about how much power she has and how much power her adversary has,” he said. “She’s totally unsentimental.” But Ms. Vestager said she allowed herself some informality on social media, often posting photos of her travels and the people she met. “Once in awhile, you can bring people backstage to

see what is going on there,” she said. She also uses social media to turn the tables on journalists. Last summer during an annual political conference in Denmark, she caught Mr. Krasnik napping on a lawn with his head propped up against a tree trunk. Naturally, she snapped a photo and posted it on her Twitter account. “That was very amusing,” Mr. Krasnik said. “It also puts a human face on her, which might be seen as a necessity, because she is seen as a very tough, cold-

hearted politician.” Ms. Vestager grew up as the daughter of two ministers of the Church of Denmark. Her parents made themselves available to comfort the afflicted at all hours. “I think this very open way of doing their job informed my view of what a society should be like,” she said. Ms. Vestager holds a master’s in economics from the University of Copenhagen and served in the Danish Parliament and in a number of high-level government posts. She came to prominence in

Denmark as the leader of the centrist Social Liberal party. During talks to form a coalition government in 2011, she insisted that her Social Democrat counterpart, Helle Thorning-Schmidt, who is now Denmark’s prime minister, agree to major budget reforms. “When they emerged” from the talks, Mr. Lidegaard said, “there were countless points on which you could accuse Helle and the Socialists of giving up promises and not one major point where Margrethe had lost, or where she said she had to compromise.” Tackling Google as her first priority of business in Brussels was strategic, some antitrust experts say. If Ms. Vestager prevails against Google, it could make it easier for her to bring a case against Gazprom, the Russian national gas behemoth that her office is also investigating. “There is a new marshal in town,” said Christian Bergqvist, an associate professor of competition law at the University of Copenhagen. “She wants to send a signal that she is tough on crime.” Among antitrust regulators, Ms. Vestager may be the only marshal self-assured enough to carry around half-knitted elephants in her purse.

A H M A D WA L I D R AS H I D I

Victim of Zealots Offers Insights After Being Held by ISIS By KIMIKO DE FREYTAS-TAMURA

AARHUS, Denmark — From his earliest years, Ahmad Walid Rashidi says he harbored a seething hatred of the Taliban, the extremist Sunni group that dominated Afghanistan before 2001 and the United States invasion. In 1997, when he was 5, he says he lost his leg, and almost his life, in a bomb explosion; a doctor initially pronounced him dead and covered him with a shroud. While he recovered from his injury, he says, the Taliban killed his father and a brother, leaving his mother to take care of him and his six remaining siblings. As much as he hated the Taliban, he says he never got an opportunity to exact revenge. His mother, a university lecturer in Kabul, moved his family to Iran and, when he was 10, to Denmark. Mr. Rashidi, now a medical student in Denmark, had his first chance last year, but it came in the form of another group of

“People here in the West gather around a dinner table to discuss the death of a pet, but no one asked me what happened to my leg.” brutal Sunni militants. A British-Danish family was seeking help in bringing back to Europe twin 17-year-old daughters who had traveled to Syria to become brides of fighters for the Islamic State, also known as ISIS or ISIL. Mr. Rashidi, a Sunni, agreed to try, but once there he found himself in uncharted waters, the certainties he had known back in the West overturned. He found the girls, but they were already married and wanted to stay. Then he was arrested by the Islamic State and accused of being a Western spy. He was jailed, tortured and hauled in front of a Shariah court, he says, which threatened to behead him. But, strangely enough, he found him-

self being drawn to the Islamic State. The particulars of Mr. Rashidi’s ordeal cannot be fully verified. His experience in Syria is central to a book being written by two Danish journalists, who say they are confident that he is reliable. Today, back in Denmark, he condemns the militant group. But he says his experiences help illuminate how the group’s calls for righting historical injustices in the Middle East strike a chord with young Muslims. Atrocities committed by the Islamic State, he said, are aimed at “making the West get a taste of their own medicine,” which part of him thinks the West deserves.

When his family moved to Denmark, he felt frustrated by what he saw as a lack of understanding among Westerners about the wars being fought in Afghanistan and the Middle East. “It built up resentment,” Mr. Rashidi said. “People here in the West gather around a dinner table to discuss the death of a pet, but no one asked me what happened to my leg. I was full of hate.” Last year, a classmate turned to Mr. Rashidi for help in bringing back her twin sisters. “I was not afraid of death,” he said. As a child, he believed that death happened only to people deemed worthy enough by God to be rescued from a living hell. “I had nothing to lose.” He said he entered Syria from Turkey on several occasions in July. He learned that the girls were in Manbij, and he returned to Syria with the girls’ mother, Khadra Jama. They were arrested by the Islamic State and

charged with spying, but she was released after 36 days, Mr. Rashidi said. He was tortured, he said, and moved to three different locations. But over time he won his captors’ trust and was taken to the local commander, a 28-yearold Briton whom Mr. Rashidi declined to name. “We had a good connection,” he said. “We were like high school classmates; joking, talking.” He said the commander helped secure his release. Mr. Rashidi had lied to him, telling him his mother was sick and awaiting his return. Mr. Rashidi says he often thinks back on his experience with the Islamic State and knows he would be tortured if he were to return. But he says the prospect does not frighten him, if it means reuniting with the commander and the people he bonded with. “I betrayed him,” Mr. Rashidi said, tearing up. “Let me ask you, how can I fight these guys when I’ve left half my heart in Syria?”

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THE NEW YORK TIMES INTERNATIONAL WEEKLY

MONDAY, MAY 25, 2015

ARTS & DESIGN

Senior Moments in Summer’s Crop of Films By MANOHLA DARGIS and A. O. SCOTT

Summer is supposed to be the season of youth, when the theaters are surrendered to cartoons, comedies and action franchises based on toys, comic books, amusement ESSAY park rides. This is when the big studios’ year-round obsession with pandering to the kids reaches a climax. In the movie world, summer starts the first weekend in May, which this year meant the release of “Avengers: Age of Ultron,” with Chris Evans, Chris Hemsworth, Scarlett Johansson and — the 50-year-old Robert Downey Jr. The “Avengers” series skews young, but not entirely: Its paterfamilias is Samuel L. Jackson, who at 66 only seems ageless. Like his fellow sexagenarians Denzel Washington and Bruce Willis, Mr. Jackson has been an action star for decades. Some of their peers, including Liam Neeson and Helen Mirren, are relative newcomers, having turned to action movies after decades of more artistic ventures. Action heroism isn’t the sole ticket to mature stardom. Now 65, Meryl Streep, a perennial Oscar nominee and critical favorite, has only in the past 10 years realized her potential as a box-office force. Since 2006, she has starred in five movies that exceeded or came close to the $100 million mark in North American ticket sales. Stars over 50 bring gravity, craft and seasoned, relaxed professionalism to projects that otherwise might lack those qualities. When filmmakers cast Ms. Streep, they are almost guaranteed a memorable performance; she’s money in the bank, much like Morgan Freeman, the hardest-working senior citizen in movies. He shares that honor with the avenging auteur Clint Eastwood, 84, whose reascension as a critical and popular phenomenon offers further evidence that movies are currently enjoying a senior moment of a kind.

R. KIKUO JOHNSON

In July Arnold Schwarzenegger, 67, will again make good on his promise (“I’ll be back”) in “Terminator Genisys.” The first “Terminator” was released in 1984. Mr. Willis has made five “Die Hards” over 25 years. Including the one due this summer, Tom Cruise has made five “Mission: Impossible” movies since 1996, when at 33 he could still be called boyish. The most conspicuous emblem of the action-franchise elder is Mr. Neeson, 62, whose career resurrection in the “Taken” series evokes the likes of Charles Bronson in the “Death Wish”

flicks. When the first “Taken” made $100 million in early 2009, turning Mr. Neeson into a box-office dynamo, it started a trend of casting aging stars. Now everybody wants to get into the act: Mr. Willis, Kevin Costner, Sylvester Stallone. Harrison Ford will forever be Han Solo for millions of fans; in his early 70s, he will again when “Star Wars: The Force Awakens” opens in December. Mr. Ford is also Indiana Jones, of course, and now he’s become a rambunctious grandpa figure in a cinematic universe increasingly crowded with angry, protective dads.

Indonesian Boy Storms Into Jazz World By NATE CHINEN

The cheers rang loud and long for Joey Alexander after he had played his last delicate piano chord in a sold-out set at Dizzy’s Club Coca-Cola in Manhattan. Beaming at his standing ovation, he stood between his bassist and his drummer, intent on taking a group bow. The scene was sweetly comical: The top of his head barely grazed their chests. Which only made sense, given that Joey, jazz’s latest media star, is 11 years old. He became an overnight sensation with his guest performance a year ago at a Jazz at Lincoln Center gala in New York. His debut album, “My Favorite Things,” is out, and he is booked for a series of appearances in the coming months, including at the Newport Jazz Festival in Rhode Island.

Discovered in Jakarta, Indonesia, about three years ago, Joey moved with his parents to New York last year, with the help of jazz luminaries like the trumpeter Wynton Marsalis. It’s all part of the improbable life of a child prodigy. Joey may be the most talked-about one that jazz has seen in a while, though he is hardly alone. There’s José André Montaño, a 10-year-old blind pianist from Bolivia; Kojo Roney, a 10-year-old drummer who had a concert residency in Brooklyn; and Grace Kelly, 22, an alto saxophonist who made her first album at 12. The list goes on, with some prodigies developing major careers and others falling short of their early promise. In person, Joey comes across like any intelligent boy with highly focused interests. He clearly loves and respects his art form.

“Jazz is a hard music,” he said, “and you have to really work hard and also have fun performing; that’s the most important thing.” “My Favorite Things” shows him to be a thoughtful musician as well as a natural one, with a sophisticated harmonic palette and a dynamic sensitivity. On the album, Joey worked with top-tier players like the bassist Larry Grenadier. The album is characterized by disarming self-possession, especially in light of its back story, which is hard to ignore. Joey, whose full name is Josiah Alexander Sila, was born in Bali, many miles from the nearest major jazz hub. His earliest encounters with jazz were through his father’s CDs. Joey began playing piano at 6, picking out a Thelonious Monk tune by ear, which led his father,

Women are increasingly allowed a token role in the mayhem, and sometimes more than that. Ms. Mirren’s ability to create steely, willful characters — including Queen Elizabeth II and a detective, Jane Tennison in the television series “Prime Suspect” — has somehow led her to the hyperviolent “Red” comedies about older and retired assassins and spies. The “Red” movies come across as a “Dirty Dozen” for retirement-age people, with Ms. Mirren, now 69, locking and loading in camouflage. They play with and, at times, succumb to ageist ste-

reotypes, even as Ms. Mirren’s sexy, witty performance demolishes any suggestion that she’s ready to retire. The assertion of on-screen sexuality by a woman in middle age (or beyond) is a form of rebellion in an industry mocked for its tendency to limit female desirability to a narrow age range. In an American big-studio movie, the sight of Sandra Bullock mastering the universe as an astronaut in “Gravity” or Ms. Streep fronting a rock band this summer in “Ricki and the Flash” is almost revolutionary. There has always been a place for old-timers in the movies, but they used to be a lot younger. Gloria Swanson was 50 when she played Norma Desmond, the tragically fossilized silent-movie star in Billy Wilder’s “Sunset Boulevard.” At the same age, Ms. Bullock was named the most beautiful woman in the world by People magazine. Mainstream movies don’t do love at any age very well anymore and rarely even try, with exceptions like “The Best Exotic Marigold Hotel” and the romance “I’ll See You in My Dreams” with Blythe Danner and Sam Elliott, opening this month. Filmmakers and maybe audiences seem more comfortable with retirees shooting people and crashing helicopters than making love. While mainstream cinema continues to revel in juvenilia, something else is also happening: more aged actors in American movies. American stars, like the country they reflect, are getting older, a fact they at once resist and do their best to exploit. They have always been symbols of glamour and potency, often reluctant to give up the spotlight. They are also the vessels of our ideals and aspirations, including the dream that it might be possible to grow old without slowing down, with or without a machine gun. They are changing the face of movie stardom, one wrinkle at a time.

Joey Alexander, 11, played at Dizzy’s Club Coca-Cola. Ukraine. He won its grand prize. Soon one of his YouTube videos caught the notice of Mr. Marsalis, artistic director of Jazz at Lincoln Center, who invited him to appear at the organization’s 2014 MICHELLE V. AGINS/THE NEW YORK TIMES gala. Joey played an amateur pianist, to teach him a solo version of the Monk ballad some fundamentals. Beyond “ ’Round Midnight” as the finathat, Joey recalled, “I heard le, earning a standing ovation, records, and also YouTube, of glowing reviews and some influcourse.” ential supporters. He played at jam sessions in Asked to recall treasured adBali and then in Jakarta. At 8, vice from a jazz elder, he was mohe played for the pianist Herbie mentarily at a loss for words. Hancock. He was 9 when he en“You know,” he said finally, “one thing people always say to tered the first Master-Jam Fest, me: ‘Keep playing.’ ” an all-ages jazz competition in

Business | Money Line

NEW TELEGRAPH MONDAY, MAY 25, 2015

Uncertainty trails ECOWAS single currency prospects Cautious Regional convertibility is more realistic Tony Chukwunyem

s the Economic Community of West African States (ECOWAS) marks its 40th an-

niversary, analysts at FBN Capital Research said that they are not optimistic about the prospects of the regional body achieving its goal of a single currency. In a note made available to the New Telegraph, the analysts stated, “The friends of a single currency (the Eco), always a small minority, have decreased in num-

ber with the many failings of the Eurozone. A less ambitious target is regional convertibility, as enjoyed by those members of both the community and the Franc Zone. That convertibility to the Euro is underpinned by the Banque de France, which manages its reserves. It could be replicated among community members outside the zone

with the right agreements between central banks in place.” The analysts noted that although ECOWAS has made its mark in the political arena, its economic record has been poor. Under the roadmap for the ECOWAS single currency programme approved by the Convergence Council of Ministers and Governors of

Sterling Bank unveils plans to celebrate Children’s Day

terling Bank Plc has rolled out plans to celebrate the 2015 Children’s Day, promising good times for children that have its ‘I Can Save account’, one of the products on the staple of

the lender. The bank in a statement, said it will celebrate the Children’s Day with lucky pupils/students in their various schools in fulfillment of one of the features of the ‘I Can Save’

Dealers predict rise in bond yields

ealers have said a further sell-off by some investors booking month-end profits and others covering their short positions could push yields on Nigerian bonds higher this week. According to Reuters, traders said the market experienced a sell-off last week after the Central Bank of Nigeria (CBN) harmonised the Cash Reserves Requirement (CRR) on public and private sector deposits to 31 per cent at its rate-setting meeting. Previously the CRR

on private sector deposits was 20 percent and 75 percent for public sector deposits. "We are anticipating further a sell-off next (this) week by some investors, especially banks with higher private sector deposits content to make up for shortage of liquidity after the central bank debited CRR on Thursday," one dealer said. The CBN recalled CRR from the banking system last Thursday in line with its new regime, leaving some commercial lenders in deficit.

product. A similar event was organised to celebrate 24 account holders during the 2013 edition of the Children’s Day. Explaining the selection criteria, the bank said that 300 accounts with the highest average balances over the last six months will be selected. The winners would be given special presents and gift packs along with Sterling Bank’s branded items. “Other classmates would also receive gift packs along with Sterling branded items. Letters to parents of the other pupils introducing the I CAN SAVE account would be included in the gift packs along with the account opening package”, the bank added. Besides, the lender said: “The event would be held on three consecutive days leading to the week of the Children’s day cel-

ebration. The three days scheduled are: 22nd, 25th and 26th of May, 2015. We are doing this to ensure that the Children really have fun and look forward to next year’s edition. We are also doing this to honour them”. The statement also revealed that the celebrations will include the presentation of gifts to eligible customers and the promotion of a social media campaign encouraging parents to post “selfies” taken with their children; following, which followers/ fans are encouraged to vote and the top three posts are awarded prizes. The lender explained that the social media angle was included in recognition of the growing importance that social media plays in not just the lives of the parents but the children.

Economic Indicators As at

As at M2* CPS* INF IBR MPR

N14,737,618.7m N16,509,472.5m 8.7 0.0000 13

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 May, 2015 2/5/2014 1/20/2014 Source: CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

91-day NTB DPR PLR Bonny Light Ext Res**

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

10.899 7.96 17.01 US$109.9 US$29,786,757,961

NITTY

11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 14/5/2015

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

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

the West African Monetary Zone (WAMZ), the ECOWAS monetary union was to be launched in 2020 with the establishment of the ECOWAS Central Bank and introduction of the common currency. WAMZ member countries - Gambia, Ghana, Guinea, Nigeria and

Sierra Leone - initiated the plan to have a single currency in 2000, following the Accra Declaration and the Bamako Accord in 2000. However, the member countries have twice postponed the take -off date for the single currency in the WAMZ.

Ecobank Nigeria gets $15m credit line from USDA

cobank Nigeria has said that it has become the first Nigerian bank to have utilise a credit line under the US Department of Agriculture (USDA) Export Credit Guarantee Programme. The GSM 102 Programme provides credit guarantee to encourage commercial financing of US agricultural commodity exports, thereby assisting US exporters in making sales that might not otherwise occur. In a statement, Ecobank’s Executive Director, Corporate Bank, Ms. Foluke Aboderin, said that the GSM 102 Facility, which has the ability to be up-sized, has been used for Structured Trade Finance transactions with Cargill Financial Services International, one of the

subsidiaries of the leading international commodities trading house, Cargill Inc. She disclosed that Deutsche Bank played the role of confirming and partner bank. According to her, the recognition of Ecobank, a member of the Ecobank Group by the US government, further highlights the unique advantages of partnering with a counterparty who has widespread foot print across the African continent. The Credit Line Under the US Government Export Guarantee Programme is reserved exclusively for the export of agricultural products from the US. It has facilitated increased trade of agricultural products between US exporters and Nigerian importers.

Heritage Bank boosts CSR profile through Okpekpe race

eritage Bank Limited has said its sponsorship of the 3rd edition of the just concluded 10-Kilometre Okpekpe Road Race in Etsako Local Government Area (LGA) of Edo State as the Official Banker, is further proof that it is poised to promote its legacy of innovation through Corporate Social Responsibility (CSR) programmes. Speaking at the race, which also featured the Edo State Governor, Comrade Adams Oshiomhole among other dignitaries, the Group Managing Director/Chief Executive Officer, Mr. Ifie Sekibo, said he was happy that Heritage Bank is playing a major role in the evolving sporting brand called Okpekpe Road Race, which attracts elite international athletes to Nigeria. This year’s edition featured 42 foreign marathoners who joined thousands of other Nigerian runners to compete for the coveted prizes. The annual international event has in its short existence of three years attained an International Association

of Athletics Federations (IAAF) certification as a bronze label event on its calendar, making it the only IAAF race of such in Africa. Both female and male winners in the race went home with juicy monetary rewards in the event, which incidentally also attracts the highest total prize money for a 10-kilometer race in the world. For both the female and male categories, the 1st 2nd and 3rd prize winners received $25,000, $15,000 and $10,000 respectively. Aside from these, there were many other prizes won by the first eight place finishers from Edo State. At the end of the race, Kenya’s Tanui Aifele won the women category in 33.34 minutes, with her compatriots, Rionoripo Purity and Mary Wacere taking the second and third positions respectively. In the male category, Alex Korio also from Kenya came first winning in 29.20 minutes. He was followed by Leish Gabrsellasie of Ethiopia while Amos Mutei of Kenya came third.

Business | News

FAIR PLAY Government's agencies owing contractors should be exposed Dayo Ayeyemi

embers of the Fe d e r at i o n of Construction Industry (FOCI) have expressed displeasure over the recent threat by the Central Bank of Nigeria (CBN) to publish names of chronic debtors to banks in the country. Speaking at a press briefing on its forthcoming 59th Annual General Meeting (AGM) in Lagos, President of FOCI, Mr. Solomon Ogunbusola, a builder, expressed discontentment over the CBN’s threat. He said that the inability of his members to pay back bank loans was due to governments’ indebted-

Customs scrap Direct Traders Input cafes CONTINUED FROM PAGE 22

But since they commenced operation, several of the cafes have been accused of being used for fraudulent practices. In 2011, the customs boss vowed to hold accountable any DTI operator through whose café containers were illegally removed from the port without the payment of appropriate fees and duties. He noted that some of the cafes had also been involved in identity theft. A source said that the NCS would, henceforth, grant DTI access only to licensed Customs agents. The source said: “Every licensed Customs agent will now have DTI access only on his or her computer in the office and not in a café as it used to be. The DTI access will be tied to individual licenses and anyone that allows unauthorised persons to gain access through their DTI to perpetrate fraud will be held liable by Customs. I think this is very good and it takes automation in the clearing process to a higher level.” Commenting on the stance of Customs, the National President of the Association of Nigerian Licensed Customs Agents (ANLCA), Prince Olayiwola Shittu, lauded the Customs’ decision to scrap the DTI cafes. Shittu said: “We called on the Customs to scrap the cafes because they have exposed our members to unnecessary risks. The move is welcome as it will protect our members from hackers who daily invade these cafes.”

MONDAY,MAY 25, 2015 NEW TELEGRAPH

Construction firms decry CBN’s threat to publish debtors’ names ness to them. Ogunbusola noted that his members have spent the loans obtained from banks on projects such as roads and building construction with the hope that government would pay them as at when due, but failed to live up to expectation. Members of FOCI are made up of big construction companies, including Julius Berger Plc, C&C Construction, Costain

West Africa, Hitech, Brunelli Construction, Jagal Nigeria, G. Cappa Plc, PW Nigeria Limited, Dantat & Sawoe and RCC, among others. According to Ogunbusola, the Federal Ministry of Works alone presently owes members over N500 billion, while one of the firms is being owed N70 billion by the Federal Government. He added that both the state and local govern-

ments are also involved in what he described as a “show of shame.” The FOCI President urged the CBN to equally publish names of government’s ministries, departments and agencies indebted to FOCI members if it must implement the threat. He said: “We are indebtedness to banks and CBN is threatening our members, saying that it will publish their names as chronic debtors. How

can you explain it that someone borrowed money from the bank for two to three years and government refuses to pay for the contract done with the money? What will CBN do to government that refuses to pay the contractor? The names of such governments must be published too.” The FOCI boss raised the alarm that construction companies in Nigeria are currently working

below 30 per cent capacity, as many contractors were handicapped due to lack of payment for jobs already executed CBN had recently directed banks to notify and enter into discussion with their chronic debtors to see the possibility of recovering their debt. The apex bank actually gave banks three months deadline to do that after which the names of such debtors will be published.

Business |Issue of the week

NEW TELEGRAPH MONDAY, MAY 25, 2015

INFRACTIONS Regulatory hammer falls on BGL

BGL in the eye of a storm

Chris Ugwu

eak corporate governance practices in both the public and private sectors of the Nigerian economy has contributed massively to the slow pace of economic development in the country. At the Nigerian Stock Exchange (NSE), like its counterparts world over, corporate governance is one of the key elements for improving economic efficiency and growth as well as enhancing investor confidence. Hence, an effective corporate governance system within an individual company and across an economy helps to provide a degree of confidence that is necessary for the growth of such entities. Besides, sound corporate governance helps to reduce costs. Consequently, the degree to which corporations observe basic principles of good corporate governance is an important factor for investment decision. NSE and banking industry However, in Nigeria, lapses in adherence to these principles have contributed to crises at the Exchange and banking industry - necessitating the intervention of the Central Bank of Nigeria (CBN) in 2009, which cost the Asset Management Corporation of Nigeria (AMCON) a capital injection of N2.1 trillion for the recapitalisation of the eight troubled banks whose management was sacked by the regulator. Investors cannot forget in a hurry the unreasonable manipulation of share prices, which firms, in collaboration with other financial institutions, indulged themselves, a despicable practice that saw the market bubble to a peak on March 5, 2008, with market capitalisation and index hitting N13 trillion and 66,371.20 points respectively, only to reverse speedily to N6.957 trillion and 31,450.78 by December, 2008. The issue of how corporate governance impacts Nigeria’s capital market development is like a twoway route. As much as good governance practices promotes the development of the capital market, weak corporate governance practices inhibit its development, as it would erode confidence in the capital market with potential wider implications for the Nigerian financial markets and the economy as witnessed in the 2008. It was therefore not surprising that market regulators have continued to wield the big stick by penalising firms for violating post-listing requirements. SEC’s efforts The Securities and Exchange Commission (SEC) and the NSE have made a lot of efforts to promote good corporate governance practices and reposition the Nigerian capital market for development. In April 2011, the SEC issued a new code of corporate governance to align governance in public institutions with global best practices. The SEC has also made efforts to retool in performing its regulatory oversight. The commission had raised

Okumagba

Gwarzo

the bar to strengthen its monitoring capacity, in order to address issues arising from various market infractions in the market. Last week, in its avowed commitment to ensuring sound corporate governance in the nation’s capital market, the Commission waded into issues relating to corporate governance breaches in BGL group. Market watchers have hailed SEC’s intervention in BGL and its outcomes, saying it has constituted a pathfinder on regulatory imperatives for players in the evolving African’s leading economy landscape. Sanctions The Commission (SEC) had last week suspended BGL group from all market activities. The suspension according to the regulator, followed the outcome of investigation by the executive management committee of SEC at its meeting held on May 19, 2015, which considered the report of a detailed investigation into the various complaints received from investors against subsidiaries of group. The executive management of the apex regulator directed that BGL Asset Management Limited, BGL Capital Limited and BGL Securities Limited be suspended from all Capital Market activities; that all Sponsored Individuals of BGL Asset Management Limited, BGL Capital Limited and BGL Securities Limited whose particulars are contained in the Commission’s record as at December 2014 be suspended from performing any Capital Market activity. SEC also directed that the Group Managing Director of BGL group Mr. Albert Okumagba, who is also President, Charatered Institution of Stockbrokers (CIS) should cease to be a registered sponsored Individual with the Commission following the withdrawal of the registration of BGL Plc as a Capital Market Operator. It added that Okumagba is therefore no longer entitled to carryout Capital Market activities. The Commission said that all suspicious transactions observed in the course of the investigation

have been referred to the appropriate law enforcement agencies for further investigation. It said that BGL Asset Management Limited, BGL Capital Limited and BGL Securities Limited and all individuals involved in the management of the said companies have been referred to the SEC Administrative Proceedings Committee (APC), which will give all parties to the cases a fair hearing. SEC had intervened in the operations of the group after investigating some complaints of breach of corporate governance made against it. According to reports, sources with knowledge of the matter said the commission, in the course of its investigation, had written to the group seeking clarification about the complaints before reaching a decision to replace the management.

We also want to know what will be the fate of investors of these companies

New BGL board The commission had also appointed an interim management board, headed by Mr. Oladipo Aina, a former President of the CIS, for BGL with other members of the board, which included Mr. Abubakar Ambursa, Mrs. Hafsat Rufai, Ms. Temitayo Siyanbola and Ms. Tonne Ladipo-Ajayi. The intervention of SEC is believed to be an effort to save the group from going under. It was also gathered that the constitution of the interim management board would the pave the way for a detailed investigation of the accounts and operations of the group. Shareholders' perspectives Reacting to the suspension, National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, said that the decision is welcomed, but called on SEC to release full details of its investigations. His said: “SEC should not give room to speculation. They should tell us the outcome of their investigation, otherwise there may be sympathy for Okumagba and BGL and this may not be good for the sector. We also want to know

what will be the fate of investors of these companies because we believe that they should not be punished unduly”. The General Secretary, ISAN, Mr. Adebayo Adeleke, stressed the need to give credence to the Gwarzo-led administration at SEC. He said: “As Mounir Gwarzo Director-General SEC, has shown that something good can come from SEC. Before now, the commission in the past has not taken a decision like this. “This may also be informed by the fact that Gwarzo has rose through the ranks in the Commission and that he has seen the rot in the system and understands the dynamics. I also think that the intervention is to preserve value of BGL.” Shareholders under the aegis of Progressive Shareholders Association in a telephone chat with New Telegraph also described the action of the apex market regulator as “a step in a right direction that will help to bring sanity in the local burse.” President of the Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, said the action of the regulator was to enable the company meet their obligations to investors and also to save others from running into investment hitches. He called on the interim management to ensure they unravel whatever the problem is and recover investors’ money. “The new management should dig deep to recover investors’ money and reposition the company. If BGL, a big-ticket portfolio management is having problems, then what it means is that the capital market its threatened. It may lead to another burble in the market, which may erode whatever NSE under the leadership of Oscar Onyema might have achieved. They must be made to account for investors’ money. Era of impunity must go,” he said. Operator's view A stock broker, who craved anonymity, said that the decision was a welcome development that would help the nation’s capital market in its quest to build a more robust and strong market. He noted that the capital market community is still in shock to hear that a heavyweight like BGL was suspended for corporate governance lapses. “There is no investor that will not be happy at this decision. The action will bring more confidence to the stock market. This has sent a positive message to both domestic and foreign investors that there is no sacred cow in the nation’s capital market and that their investments are protected,” he said. Conclusion In as much as the action taken by the regulator is commendable, to sustain sound regulatory framework, strong and transparent disclosure and accountability regime, there is need for regulators to continue to tighten the noose on market infractions and other miscellaneous capital market crimes.

RELIEF Planned investment to provide necessary support for workers

n the event that the Federal Government introduces harsher measures to battle the odds working against the economy, Nigerian workers, who are registered under the Contributory Pension Scheme, are likely to be insulated to some extent, according to the National Pension Commission. D i re c t o r- G e n e r a l , PenCom), Mrs. Chinelo Anohu-Amazu, said the pension industry will play a vital role in alleviating the sufferings that Nigerians would likely experience should the Federal Government introduce some forms of belt-tightening measures to salvage the economy. The commission, currently supervising the pension assets now in the region of N4.67 trillion, has also mapped out plans to enable contributors use part of their pension savings as equity contribution towards building their own homes. Anohu-Amazu pointed out that the pension industry had pooled significant investible funds locally and would deploy same to relevant sectors of the economy, particu-

Insurance

Austerity measure: ‘Pension funds will rescue contributors’

larly for the development of infrastructure and provision of houses for contributors in line with relevant provisions of the pension law. She recalled that the pension law allowed pension fund assets to be invested in infrastructure across the country. She

added that many jobs would be created in the course of infrastructural development and housing, such that many Nigerians would be gainfully employed. This, she said, would go a long way in alleviating the pains of austerity measures. The Pension Reform

Act 2014 allows contributors seeking to own their primary homes to apply to use part of their Retirement Savings Account (RSA) balances as equity contributions for residential mortgage subject to guidelines issued by the Commission. “The process of is-

suing these guidelines is already at advanced stages and it is our expectation that as soon as implemented, this development would assist in bridging the housing deficit in Nigeria,” she stressed. The Director General said the application of

the Contributory Pension Scheme (CPS) by States and Local Governments received a boost under the new pension law since a standard, which State Governments are required to comply with for the benefit of their respective employees had been set.

L-R: Marketing Director, Pernod Ricard Nigeria, Mr. Sola Oke; Head Marketing and Communications, Viacom International, Colette Otusheso; Jude Abaga; Yemi Alade and Natochukwu Chikwe, during a press conference where Absolut Vodka partnership with MAMAs 2015 was announced, at COVA Lounge, in Lagos.

Consolidated Hallmark records N4.67bn premium income oremost insurer, Consolidated Hallmark Insurance (CHI) Plc, has posted a premium income of N4.67 billion in its 2014 financial year. The results recently approved by the various Regulators, and made available to investors on the trading floor of the Nigerian Stock Exchange (NSE) signals the company’s gradual return to profitability. According to a statement from the company, the income of was higher compared with the N4.15 billion recorded during the 2013 financial year. While the company also recorded an underwriting profit of over N863 compared to N1.05 billion in 2013, the profit attributable to Equity Holders of the parent company took a forward leap from a negative position of N200 mil-

MONDAY, MAY 25, 2015 NEW TELEGRAPH

lion in 2013 to yield N193 million in 2014. The results brought to fruition the assurance to shareholders by the Managing Director/CEO, Mr Eddie Efekoha, during the Annual General Meeting at Uyo in 2014 that, “with the outstanding premium debacle ended in the industry and particularly for our company, it is a very strong signal of better days of profitability ahead.” “It is indeed, a promise fulfilled as the company’s 2014 accounts have shown. CHI is one of the few industry players that have so far received the approval of the industry and other regulators for their 2014 financials,” the statement added. Meanwhile, arrangements are ongoing for the 20th Annual General Meeting of the company, holding on a date to be announced soon.

PENETRATION Multiple windows for products distribution

ust as Nigeria’s insurance regulatory body, the National Insurance Commission (NAICOM) is at the verge of reviving bancassurance in the country, Ecobank Ghana Limited has ventured into it through a partnership with Africa's number one insurance company, Old Mutual Life Assurance Company (Ghana) Limited. A few months ago, the Commissioner for Insurance, Mr. Fola Daniel, said in Benin City that the commission was planning to reinstate the model, which was put to rest some years back as a consequence of banks shedding their direct involvement in insurance business. Bancassurance makes it possible for insurance companies to sell their products to policyholders through banks. The partnership in Ghana makes it possible for the Ghana unit of Old Mutual, a South African-based insurer, to sell its life assurance products to the Ghana

Ecobank ventures into bancassurance business ian public through the 78 branches of Ecobank, where the banking needs of over 800,000 customers are served on a daily basis. The union between the two institutions was unveiled in Accra last Friday, bringing to an end six months of negotiations between the bank and the insurer to iron out the nitty-gritties of the agreement. The Executive Director of Domestic Banking at Ecobank Ghana, Mr George Mensah Asante, said the partnership formed part of Ecobank's aim of becoming a one-stop shop for financial sector solutions in the country. As a bank with a wider network nationwide, Asante said Ecobank realised that it could leverage that platform to provide its customers with an added service in the form of bancassurance, a product that was fast gaining currency in the country. He explained that the choice of Old Mutual over other insurance companies was informed by the similarities in the values and visions that the two institu-

tions upheld. “In things like this, you do not just partner with anybody. So, we looked around and found Old Mutual, which is an African giant, a global name and well respected to bring insurance to the door-steps of Ecobank customers,” he said after the launch in Accra. Ultimately, Mr Asante said the bank would also be using the partnership to contribute its quota to the growth of insurance penetration in the country. “We think that this is our contribution to the development of insurance penetration in the country. Because of our network and position as the biggest bank in Ghana, we realised that if we begin to sell insurance, then we can get many people to buy insurance and that goes beyond the revenues we will make and things like that,” he said. “Our venture into the bancassurance business is not only the fact that it is lucrative. We are looking at helping to improve insurance penetration in Ghana,” he added.

Business | Insurance

NEW TELEGRAPH MONDAY, MAY 25, 2015

MEDIATION Recent intervention by the regulator was to further strenthen the firm

he management of International Energy Insurance (IEI) Plc said that the recent intervention and dissolution of the Board of the company by the National Insurance Commission (NAICOM) was a normal administrative procedure aimed at ensuring peace and order in the underwriting firm. Disclosing this in a statement made available to New Telegraph, the interim Managing Director, Mr. Peter Irene, said the intervention to dissolve the former board of the company was not to take over the company but to create neutrality towards ensuring peace and order. He said, “The mandate of the interim board is to guide the company through this transition period, to greater stability for the next six months. The aim is to ensure that the company is professionally and ethically anchored on the tenets of international best practice in alignment with the code of good corporate governance. “IEI remains a going concern with the capacity to continue to fulfil every business obligations and still remains one of the best underwriting firms in Nigeria.” He said the management was poised for repositioning the company to enable it sustain its leading role in the nation’s insurance industry. IEI said the underwriting firm had some of the most competent hands in energy and general business underwriting, and an innovative business drive, which are core competences required to deliver value to policyholders and other stakeholders. The National Insurance Commission (NAICOM, had on May 18, 2015, inaugurated a new Interim Board to direct the affairs of International Energy Insurance Plc, after the dissolution of the former board. The new board comprises Malam Muhammad Kabir Ahmad, a former DirectorGeneral of the National Pension Commission, as the Chairman. Others are Ms. Daisy Ekineh, a former Commissioner of the Securities and Exchange Commission (SEC), and Mrs. Bridget Ibiyemi, former acting Managing Director of Societe Bancaire

Why NAICOM intervened in IEI, by MD Nigeria Limited (now Unity Bank Plc) and Peter Irene, interim managing director. The former Board, the Company noted, was dissolved because of persistent unresolved

differences which led to the removal of two former Directors from the Board, and the Directors are challenging the propriety of their removal in court. This has polarised the

Board and all efforts by NAICOM to amicably resolve the matter failed. This led to the consequent intervention of NAICOM to protect the company and the interest of policy holders and all stakehold-

ers, the company stated. In the first quarter ended March 31, 2015, IEI generated a premium income of N1.42 billion and paid out over N400 million as claims. The Interim Manage-

ment Board is optimistic that the short term stewardship in creating the needed stability will boost greater confidence of the insuring public, to continue to enjoy the unique service offerings of IEI.

L-R: Glo Ambassador, Bezhiwa Idakaba; Winner of the NYSC Miss Bold & Beautiful contest sponsored by Globacom, 21-year old Mass Communication graduate of Covenant University, Brenda Evbodaghe and Globacom Group Business Director, Kunle Akanmu, during the contest at the NYSC Orientation Camp, in Lagos.

NIA, CICA Re to partner on capacity building

he Director-General Nigerian Insurers Association (NIA), Olorundare Sunday Thomas, has expressed the Association’s readiness to collaborate with any institution in developing the human capacity needs of the local insurance market. Thomas stated this while receiving a del-

egation of CICA Re led by Aristide – Emile Kaneho, the technical advisor which, paid a courtesy visit to the NIA secretariat to discuss ways of training underwriters in some highly technical areas to ensure proper risk pricing and quality service delivery to clients. Kaneho stated that CICA Re had fully estab-

lished a stronghold in Francophone countries but that the company is looking at bringing “a message” to the Nigerian market and expressed the hope that with the support of the Association, the reinsurance company would achieve its objective. He said, CICA has been conducting training in CIMA region but

wants to see what it can bring and get from the Nigerian market. Responding, Thomas thanked the representatives of the reinsurance company for their interest in increasing the technical capacity in the industry through training, adding that the Association’s major activity is essentially capacity building, advo-

cacy and dissemination of relevant market information to all members. He noted that technology had broken various forms of regional boundaries, which the industry need to leverage on and expressed the hope that CICA Re would remain committed to its desire to show presence and bring value to the Nigerian market.

PTAD conducts supplementary verification for police ABSENCE Over 3,000 police pensioners did not turn up for the first exercise

he Pension Transitional Arrangement Directorate (PTAD) has concluded arrangement to conduct a supplementary verification exercise for all unverified police pensioners who retired on or before June 2007. The exercise takes from Monday, May 25 to June 1, 2015 in Abuja. The affected pensioners did not participate in an earlier nationwide verification exercise concluded in March 2015. A statement obtained by New Telegraph said that the

supplementary exercise came on the heels of post-verification analysis, which revealed that 3,326 police pensioners on PTAD’s payroll did not turn up to be captured. This prompted the removal of the names of the unverified police pensioners from PTAD’s payroll and payment of their pensions suspended as from May 1, 2015 pending the outcome of the supplementary exercise. The statement said, “The names of the affected unverified police pensioners numbering 3,326 have been removed from our payroll due to their non-participation in its just concluded nationwide verification exercise and will only be reinstated after they have been duly verified and their biometrics captured.” It added that the supplementary verification exercise is the last call for the affected

pensioners to come out and be captured. “The removal of unverified police pensioners from PTAD’s payroll is to clean up and give credibility to our police pensioners’ database after a nationwide verification, which the affected pensioners did not turn up to be captured,” the statement said. It explained "that the removal of the affected names as well as the call for supplementary verification is necessary to ensure pension is paid to genuine pensioners only. “The question is how long are we supposed to pay this group of people who have not turned up to be captured after repeated calls for them to do so?” It added that between December 2014 and March 2015, PTAD went to all the geopolitical zones to verify and cap-

ture all police pensioners. The exercise was conducted in 18 cities across the country with adequate publicity on national radio, television and print media as well as SMS messages to the targeted pensioners. It pointed out that the Association of Retired Police Officers of Nigeria (ARPON) was equally engaged to help reach out to all pensioners to come for the verification but post -verification analysis indicates that 3,326 police pensioners on PTAD’s payroll did not turn up for the exercise. The PTAD said the affected police pensioners are enjoined to bring along the original and photocopies of letter/gazette of first appointment, letter of last promotion, letter of retirement, duly signed NUBAN bank statement with bank logo, and letter of introduction from last Command of service.

Business | Financial Market News

MONDAY,MAY 25, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

22-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

1.24 1.93 2.18 2.28 3.02 4.10 4.42 4.73 6.69 8.81 13.52 14.00 14.50 15.17 19.16

13.79 13.79 13.76 13.76 13.77 13.79 13.74 13.72 13.60 13.62 17.17 17.74 18.42 15.54 13.69

13.66 13.70 13.67 13.68 13.64 13.70 13.64 13.63 13.54 13.56 17.10 17.67 18.32 15.47 13.64

99.13 102.13 92.80 91.59 92.61 106.71 78.18 106.13 111.92 102.86 88.72 73.13 50.33 68.00 89.61

99.28 102.28 92.95 91.74 92.91 107.01 78.48 106.43 112.22 103.16 89.02 73.43 50.63 68.30 89.91

TOTAL OUTSTANDING VALUE

4,746.32

TOTAL MARKET CAPITALISATION

4,435.61

Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

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

0.01 0.99 1.55 1.91 2.12

2.63 2.27 2.24 2.66 2.85

17.76 16.65 15.99 16.42 16.61

99.83 100.58 99.99 101.57 97.86

Agency Bonds FMBN ***LCRM

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

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

322.75

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.28

4.44

16.63

98.80

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.36

3.23

16.25

98.84

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.63

4.46

18.86

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.63

3.48

17.88

98.61

19-Apr-10

10.00

57.00

19-Apr-17

1.91

1.00

14.76

92.30

‡ /Agusto

*IMO

97.24

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.17

1.00

15.16

98.53

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.61

1.79

15.55

96.72

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.99

1.80

15.56

97.45

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

2.00

1.00

14.76

98.70

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

1.98

1.00

14.76

99.57

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

1.98

4.78

18.54

93.07

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.18

1.00

14.76

101.22

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

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

2.61 4.50 2.58

1.00 1.00 1.00

14.76 14.74 14.76

101.41 99.23 99.96

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.78

10-Oct-20

3.12

1.00

14.77

99.94

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.52

1.00

14.64

95.77

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.61

1.00

14.63

101.33

‡ /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

3.27

1.44

15.21

98.27

06-Jan-14

15.00

4.56

06-Jan-21

3.30

1.00

14.77

100.50

99.26

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 441.51

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.24

1.00

13.07

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.30

1.00

13.43

99.58

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.38

2.63

15.87

99.35

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.36

1.00

14.93

97.66

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.43

1.34

15.18

98.81

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.36

1.00

14.76

96.55

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.38

1.88

15.78

103.39

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.63

1.00

14.75

101.68

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.80

1.00

14.75

104.73

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.80

1.00

14.75

101.78

A+/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.34

3.00

16.77

93.07

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.91

2.29

16.05

99.48

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

1.99

6.11

19.87

97.16

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.61

2.16

15.92

100.09

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.48

2.76

16.41

95.91

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.50

1.80

15.34

95.60

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.61

2.11

15.65

103.17

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

0.10

30-Sep-24

9.36

1.00

14.89

85.26

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.36

1.00

14.89

91.83

TOTAL OUTSTANDING VALUE

187.53

TOTAL MARKET CAPITALISATION

182.59

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.73

1.00

14.77

90.01

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

14.71

85.84

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.92

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

5.67

5.47

105.18

106.17

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.51

4.22

101.76

102.63

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.89

5.74

103.09

104.10

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

1,550.17

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

6.43

4.35

100.99

102.98

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.34

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

9.35

90.56

93.75

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.35

6.84

95.95

97.47

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

10.38

9.67

94.79

97.03

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

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

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

8.25 9.25 8.00

300.00 400.00 450.00

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

8.76 10.31 9.18

8.76 9.96 9.18

97.21 95.43 93.75

97.21 96.96 93.75

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.23

9.75

92.50

94.63

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,506.38

**Treasury Bills^ DTM 13 20 34 41 48 55

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

Bid Discount (%) 13.83 13.29 13.46 13.53 11.06 13.59

Offer Discount (%) 13.58 13.04 13.21 13.28 10.81 13.34

Bid Yield (%) 13.90 13.39 13.63 13.74 11.22 13.87

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.5833 14.6585 15.8832 16.9848

Tenor

Rate (%)

OBB

9.67

O/N Tenor

9.96

REPO

Rate (%)

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M

197.01 201.81 202.13 202.87

197.11 201.93 202.28 203.37

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

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

7.00 15.54 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

233.90 193.73 600.00 573.14 75.00 150.00 200.00 591.57 299.50

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

TOTAL OUTSTANDING VALUE

4,746.32

TOTAL MARKET CAPITALISATION

4,435.61

Agency Bonds

POSITIVE

FMBN ***LCRM

Local investors’ TOTAL OUTSTANDING VALUE confidence increases in TOTAL MARKET CAPITALISATION the stockBonds market Sub-National A/Agusto

KADUNA

A-/Agusto

*EBONYI *BENUE

A+/Agusto; ‡ /GCR

Issue Date

LAGOS

*BAYELSA omestic participaEDO tion at the nation’s ‡ /Agusto; A+/GCR *DELTA bourse increased to Bb-/Agusto; A-/GCR NIGER ‡ /Agusto; A-/GCR† *EKITI N102.91 billion (about Bb-/Agusto *NIGER $0.52 billion) in April 2015, up ‡ /Agusto; A-/GCR *ONDO BBB+/Agusto; A-/GCR *GOMBEfrom by some 26.33 per cent Aa-/Agusto; ‡ /GCR LAGOS March 2015. BBB-/Agusto; BBB+/GCR *OSUN BBB-/Agusto *OSUN from A report obtained Aa-/Agusto; ‡ /GCR LAGOS the NSE website, stated that A-/Agusto; BBB+/DataPro KOGI ‡ /Agusto domestic investors *EKITI conceded A-/GCR *NASARAWA about 0.5 per cent of trading TOTAL OUTSTANDING VALUE to foreign investors as the TOTAL MARKET CAPITALISATION ‡ /Agusto ‡ /Agusto

Outstanding Value (N'bn)

Coupon (%)

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

Maturity Date

24.56 2.40 112.22 116.70 66.49

percentage of foreign transactions decreased from 55.73 per 12.50 KADUNA 31-AUG-2015 cent to13.00 50.25 per30-SEP-2015 cent. Domestic EBONYI 14.00 BENUE 30-JUN-2016 transactions increased from 15.50 IMO 30-JUN-2016 44.27 per cent to 49.75 per cent 10.00 LAGOS 19-APR-2017 13.75same BAYELSAperiod. 30-JUN-2017 over the 14.00 EDO 31-DEC-2017 Total transactions in14.00 DELTA 30-SEP-2018 creased by 12.41 per cent from 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 N184.02 billion in March to 14.00 NIGER III 12-DEC-2018 N206.86 in April with 15.50billion ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 foreign portfolio investors’ in14.50 LAGOS 22-NOV-2019 flows 14.75 accounted for 26.20 per OSUN 12-DEC-2019 OSUNtransactions. II 10-OCT-2020 cent of14.75 total The 13.50 LAGOS 27-NOV-2020 outflows accounted 15.00 KOGI 31-DEC-2020 for 24.05 14.50 EKITI II 31-DEC-2020 per cent of the total transac15.00 NASARAWA 06-JAN-2021 tions in April 2015. In comparison to the same

Risk Premium (%)

Avg. Life/TTM (Yrs)

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

0.01 0.99 1.55 1.91 2.12

2.63 2.27 2.24 2.66 2.85

322.75

period in 2014, total FPI transactions decreased by 15.47 per 31-Aug-10 12.50 cent, whilst domes30-Sep-10the total 13.00 30-Jun-11 14.00 tic transactions increased by 30-Jun-09 15.50 51.94 per19-Apr-10 cent. 10.00 30-Jun-10 13.75 outFPI inflows outpaced 30-Dec-10 14.00 flows, which was consistent 30-Sep-11 14.00 with the04-Oct-11 same period 14.00 in 2014. 09-Dec-11 14.50 Overall,12-Dec-13 there was an 14.00 8.47 per cent increase 14-Feb-12 in total transac15.50 02-Oct-12 15.50 the tions in22-Nov-12 comparison with 14.50 same period in 2014. 12-Dec-12 14.75 10-Oct-13 On a monthly basis,14.75 the Ex27-Nov-13 13.50 change 31-Dec-13 polls trading 15.00 figures 31-Dec-13 custodians 14.50 and from major 15.00 market 06-Jan-14 operators on their foreign portfolio investments

(FPI). According to reports, high8.50 31-Aug-15 0.28 lights compo2.16 of the domestic 30-Sep-15 0.36 4.86 30-Jun-16 sition of transactions on 0.63 the 5.73 30-Jun-16 0.63 Exchange between January 57.00 19-Apr-17 1.91 25.73 and April 201530-Jun-17 showed that1.17 to25.00 31-Dec-17 2.61 tal30.81 domestic transactions in30-Sep-18 1.99 creased by 13.56 per cent from 9.00 04-Oct-18 2.00 13.73 09-Dec-18 1.98 January to April 2015. 10.20 12-Dec-18 1.98 The institutional composi27.00 14-Feb-19 2.18 15.09 02-Oct-19 2.61 tion of the domestic market, 80.00 22-Nov-19 4.50 which was about 25.70 12-Dec-19 33.69 per 2.58 10.78at the end 10-Oct-20 cent of January,3.12 in87.50 27-Nov-20 5.52 creased to 49.41 per cent at 5.61 the 5.00 31-Dec-20 4.55of April, 31-Dec-20 3.27 end whilst the retail 4.56 06-Jan-21 3.30 composition decreased from 452.88 66.31 per cent to 50.59 per cent 441.51 in the same period.

10.00 UPDC 17-AUG-2015

*UPDC

17-Aug-10

Shareholders approve Lafarge Africa’s N3.60 dividend

Valuation Yield (%)

78.48 106.43 112.22 103.16 89.02 73.43 50.63 68.30 89.91

Modelled Price

17.76 16.65 15.99 16.42 16.61

99.83 100.58 99.99 101.57 97.86

8.75 AUG 14, 2021

14-Aug-14

0.30

1.00

13.43

99.58

06-Jan-16

0.38

0.24

2.63

1.00

15.87

99.35

15.00

29-Sep-16

1.36

1.00

14.93

97.66

5.53

25-Oct-16

1.43

1.34

15.18

98.81

20.00

30-Sep-17

2.36

1.00

14.76

96.55

0.64

30-Nov-17

1.38

1.88

15.78

103.39

5.40

09-Apr-18

1.63

1.00

14.75

101.68

14-Aug-21

10.23

9.75

92.50

94.63

ollowing09-Sep-18 an extensive 1.80 1.80 strategic09-Sep-18 review process, 35.00 22-Sep-18 3.34 which is the 2.10 Frigoglass, 18-Oct-18 1.91 0.36 investor17-Feb-19 1.99 core in Beta Glass 4.50 01-Apr-19 2.61 Plc2.05 announced at the week14-Nov-20 5.48 end that it hasd entered into 26.00 20-Nov-21 6.50 30.50 30-Dec-21 6.61 an agreement to sell its glass 0.10 30-Sep-24 9.36 operations to GZI Mauritius 15.44 30-Sep-24 9.36 Limited. 187.53 GZI is the holding company 182.59 of GZ Industries Limited, the largest beverage can manufac12.00 11-Feb-18 2.73 12.95in West Africa 01-Feb-21with manu4.75 turer 24.95 facturing operations in Nigeria, 21.92 which is now expanding into Outstanding Kenya.Value Maturity Date Bid Yield (%) ($mm) GZI's shareholders led by Standard Chartered Private 500.00 have been 28-Jan-21 5.67 Equity pivotal in this transaction. 500.00 12-Jul-18 4.51 In a statement obtained from 500.00 12-Jul-23 5.89 company’s website, the opera1,500.00 tions being sold consist of all of 1,550.17 Frigoglass’ glass container operations in Nigeria and Dubai 6.43 as500.00 well as the 19-May-16 complementary 350.00 crates and 25-Jul-17 7.34 plastic metal crowns 300.00 02-May-18 10.69 businesses in Nigeria. 400.00 08-Nov-18 7.35 Frigoglass also announced 500.00 22-Apr-19 7.41 200.00 21-May-19 an agree10.38 that it had reached 300.00 07-Aug-20 8.76 ment to acquire the minority 400.00 24-Jun-21 10.31 450.00 23-Jul-21 9.18 interest in its Frigoglass Jebel

8.75

250.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

09-Dec-15

2.54

#{r}

ECOBANK NIG. LTD

17-Aug-15

0.42

0.70

TOTAL OUTSTANDING VALUE

2.50

18.75

Accept Balogun as chair

#{r}

Total FPI transactions of N616 billion, which accounted 4.44 16.63 98.80 for 14.8 per cent trans3.23 16.25of total98.84 4.46 18.86 97.24 actions in 2007 increased over 3.48 17.88 98.61 the 1.00 years to 14.76 N1, 539 billion, 92.30 1.00 15.16 98.53 of representing 57.5 per cent 1.79 15.55 96.72 total transactions in 2014 (an 1.80 15.56 97.45 increase of 42.7 per cent over 1.00 14.76 98.70 14.76 the 1.00 seven year period). 99.57 4.78 18.54 93.07 Domestic transactions 1.00 14.76 101.22 on 1.00 14.76 101.41 the 1.00 other hand, started99.23 at N3, 14.74 556 1.00 billion, representing 14.76 99.9685.2 14.77but decreased 99.94 per 1.00 cent in 2007, 1.00 14.64 95.77 significantly to N1,137billion, 1.00 14.63 101.33 1.44 15.21 98.27 of representing 42.5 per cent 1.00 14.77 100.50 total transactions in 2014 (a sharp decline of 42.7 per cent in the seven year period).

Firm to sell its glass operation in Nigeria, Dubai

10.00

12.00 FLOURMILLS 9-DEC-2015 09-Dec-10 12.00 hareholders of Lafarge *FLOURMILLS 14.00 CHELLARAMS 06-JAN-2016 06-Jan-11 14.00 *CHELLARAMS Africa Plc at their 56th 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 13.00 NAHCO Annual GeneralFSDH Meet14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 14.25 13.00 UBA 30-SEP-2017 A/GCR(AGM) last Friday 30-Sep-10 13.00 UBA, ening 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 18.00 *C & I LEASING dorsed the company’s N3.60 MPR+7.00 DANA 9-APR-2018 09-Apr-11 16.00 Nil *DANA dividend for the 2014*TOWER finanMPR+7.00 TOWER 9-SEP-2018 09-Sep-11 18.00 A-/DataPro†; B+/GCR MPR+5.25 TOWER 9-SEP-2018 09-Sep-11 16.00 AAA/DataPro†; A/GCR *TOWER cial year. 14.00 UBA II 22-SEP-2018 A+/Agusto; A/GCR 22-Sep-11 14.00 UBA The dividend rep15.75 LA CASERA 18-OCT-2018 BBB+/Agusto; BBB+/GCR payout 18-Oct-13 15.75 *LA CASERA MPR+5.00 CHELLARAMS II 17-FEB-2019 BBB-/DataPro†; BB/GCR *CHELLARAMS a Mandatory 17-Feb-12 Tender Offer 18.00 resents 9 per cent increase He said the current lead16.00 DANA II 1-APR-2019 01-Apr-14 16.00 Nil *DANA share- 15.25 proved that they (MTO) for minority compared with N3.30 kobo ership had 15.25 NAHCO II 14-NOV-2020 A+/Agusto; A-/GCR 14-Nov-13 NAHCO paid in 2013. are capable of driving the holding in AshakaCem Plc. 14.25 FCMB I 20-NOV-2021 BBB/GCR 20-Nov-14 14.25 FCMB UBA I 30-DEC-2021 A/GCR 30-Dec-14 UBA apThe shareholders also He noted that subsequent 16.45 company16.45 to great heights. 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR 30-Sep-14 11.93 STANBIC IBTC to the approval by SEC, the 13.25 Addressing shareholders proved the appointment ofIBTC 13.25 STANBIC IB 30-SEP-2024 A/GCR 30-Sep-14 STANBIC Mr. Mobolaji Balogun as the at the meeting, the outgoing MTO was opened on 10th TOTAL OUTSTANDING VALUE chairman of CAPITALISATION the company. chairman, Chief Olusegun December 2014 and closed TOTAL MARKET He succeeds Mr. Olusegun Osunkeye, noted that divi- on 30th January, 2015. Supranational Bond Osukeye, who retired dend also10.20 represents Osunkeye said the conclu- 10.20 IFC 11-FEB-201846 per AAA/S&P IFC from 11-Feb-13 11.25 AFDBafter 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDB 10-Jul-14 at the close of the AGM. cent of profit tax in sion of the MTO increased 11.25 TOTAL OUTSTANDING VALUE National Coordinator, 2014. This he said could be the shareholding of Lafarge TOTAL MARKET CAPITALISATION Independent Sharehold- adjustable in future years, Africa in the issued share capital of AshakaCem byCoupon (%) ers Association of Nigeria Issuerdepending on investment Description Rating/Agency Issue Date 23.85 per cent to 82.46 per (ISAN), Sir Sunny Nwosu, requirements. FGN Eurobonds commended the company Osunkeye said that fol- cent. 6.75 JAN 28, BB-/Fitch; 07-Oct-11 Cement 6.75 He said Nigerian for theB+/S&P dividend payout. lowing the acquisition of2021 BB-/Fitch; a joint 5.13 He said the shareholders FGN58.61 per cent (1.3125.13billion JUL 12, 2018 Holdings B.V (NCH), 12-Jul-13 BB-/S&P were appreciative of the efunits) of the issued ordinary venture between Lafarge BB-/Fitch; 6.38 JUL 12, 2023 12-Jul-13 6.38 BB-/S&P which the staff and forts, share capital of Ashaka Ce- Africa and Holcim, entered TOTAL OUTSTANDING VALUE management had put in ment Plc by Lafarge Africa into an agreement definTOTAL MARKET CAPITALISATION place to drive the company Plc, the board of directors in ing a roadmap to purchase to increase its return on in- compliance with regulatory Flour Mill Nigeria’s 30 per Corporate Eurobonds 7.50 MAY 19, 2016 cent investments B+/Fitch; B+/S&P GTBANK PLC I requirements as outlined 19-May-11 vestment. in United 7.50 JUL 25, 2017 Cement Company B+/S&P BANK PLC 25-Jul-12 In the same vein,ACCESS Presiin section 131 of the7.25Investof Nigeria 7.25 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC 09-May-13 6.88 dent, Nigerian Shareholders ment & Securities Act (No. Limited (UNICEM). 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC 08-Nov-13 6.00 Solidarities Mr. 27, 2007) and Rule 445 “The agreement, 6.25of APRthe 22, 2019 B+/Fitch; BB-/S&P Association, ZENITH BANK PLC 22-Apr-14 signed 6.25 8.75 May 21, 2019 on November21-May-14 B/Fitch; B/S&PAdeshina, applaudDIAMOND BANK PLC Timothy Securities and Exchange 5th, 2014, fol- 8.75 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 07-Aug-13 Commission (SEC) Rules ed the account performance lowed approvals of the re- 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 8.00/2Y USD SWAP+6.488 JULspective 23 2021 B-/Fitch; FIRST BANK LTDand Regulations, 23-Jul-14 launched of theB/S&P company. boards of directors. 8.00 BB/GCR

B-/S&P

78.18 106.13 111.92 102.86 88.72 73.13 50.33 68.00 89.61

Domestic transactions rise by 26% 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

Corporate Bonds

BBB+/Agusto BBB-/Agusto

13.64 13.63 13.54 13.56 17.10 17.67 18.32 15.47 13.64

322.38

Stories by Chris Ugwu ‡ /Agusto *IMO BBB+/Agusto

Description

Issuer

13.74 13.72 13.60 13.62 17.17 17.74 18.42 15.54 13.69

Business | Financial Market News

NEW TELEGRAPH MONDAY, MAY 25, 2015 Rating/Agency

4.42 4.73 6.69 8.81 13.52 14.00 14.50 15.17 19.16

13.07

99.26

Ali 1.00 business 14.75 based in Dubai, 104.73 1.00 14.75 101.78 which will also be part of this 3.00 16.77 93.07 transaction. 2.29 16.05 99.48 6.11 glass operations 19.87 97.16 The man2.16 15.92 100.09 agement team and employees 2.76 16.41 95.91 will 1.80 also be transferred with 15.34 95.60 the 2.11 15.65 103.17 business on disposal. The busi1.00 14.89 85.26 ness1.00 has 1,588 employees across 14.89 91.83 both Nigeria and Dubai. The net cash consideration to be received by Frigoglass for the disposal of the14.77 glass operations 1.00 90.01 14.71 to be US$225 85.84 has 1.00 been agreed million (€200 million at the current exchange rates). This represents anOfferenterOffer Yield (%) Bid Price Price prise value of US$403 million Prices & Yields (€358 million at the current 5.47 105.18 106.17 exchange rates) for 100 percent of the US$200 4.22 glass operations. 101.76 102.63 million of the consideration 5.74 103.09 104.10 will be payable in cash on completion of the transaction with a further US$25 million cash being payable in two tranches over 4.35 100.99 years. 102.98 the following two 7.34 transaction 99.80 99.80 to The is subject 9.35 90.56 93.75 GZI's receipt of committed fi6.84 95.95 97.47 nancing and other customary 7.41 96.13 96.13 9.67 97.03 conditions and94.79 is expected to be 8.76 97.21 97.21 completed in the second half of 9.96 95.43 96.96 93.75 93.75 2015.9.18

3,650.00

22-May-15

3,506.38

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute **Treasury Bills^ FIXINGS Money Market Foreign Exchange (Spot professional,DTM financial or investment advice. We attempt to ensure the Information is accurate; however, theBidInformation is provided “AS IS” and on an “AS AVAILABLE”Tenor basis and mayRate not(%) be accurate or up to date. We do & notForwards) guarantee Maturity Bid Discount (%) Offer Discount (%) Yield (%) NIBOR the accuracy,13timeliness, completeness, performance or fitness for a particular purpose of any of the Information, 4-Jun-15 13.83 13.58 13.90neither do we accept liability for the results of any action taken on the basis of the Information. FGN

20 34 41 Bonds 48 55 62 69 Rating/Agency 76 83 97 104 111 125 132 146 160 174 195 NA 209 230 237 244 251 258 265 272 279 286

TOTAL OUTSTANDING VALUE 300 307

TOTAL MARKET CAPITALISATION 321 335

11-Jun-15 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 Issuer 6-Aug-15 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 NA 17-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16

13.29 13.46 13.53 11.06 13.59 11.72 12.02 Description 12.06 12.58 ^13.05 16-AUG-2016 11.26 ^15.10 27-APR-2017 11.82 13.53 9.85 27-JUL-2017 13.38 9.35 31-AUG-2017 13.34 10.70 30-MAY-2018 13.40 ^16.00 29-JUN-2019 13.65 13.46 7.00 23-OCT-2019 13.10 15.54 13-FEB-2020 13.02 ^16.39 27-JAN-2022 13.35 ^14.20 14-MAR-2024 13.64 12.98 15.00 28-NOV-2028 13.33 12.49 22-MAY-2029 13.19 8.50 20-NOV-2029 13.54 13.52 ^10.00 23-JUL-2030 13.63 ^12.1493 18-JUL-2034 13.42

13.39 13.63 13.74 11.22 13.87 11.96 12.30 (%) Coupon 12.37 12.95 13.05 11.61 15.10 12.23 14.11 9.85 14.02 9.35 14.01 10.70 14.15 16.00 14.52 14.38 7.00 14.09 15.54 14.07 16.39 14.57 14.20 14.96 14.21 15.00 14.67 12.49 14.55 8.50 15.02 15.03 10.00 15.21 12.1493 15.00

Bonds

17-Mar-16

13.09

12.84

14.67

24-Mar-16

12.67

12.42

14.18

7-Apr-16

13.13

12.88

14.84

21-Apr-16

13.31

13.06

15.16

349 5-May-16 13.10 *for the Amortising bonds, the average life is calculated and not the duration #

13.04 13.21 13.28 10.81 13.34 11.47 11.77Date Issue 11.81 12.33 16-Aug-13 11.01 27-Apr-12 11.57 13.28 27-Jul-07 13.13 31-Aug-07 13.09 30-May-08 13.15 29-Jun-12 13.40 13.21 23-Oct-09 12.85 13-Feb-15 12.77 27-Jan-12 13.10 14-Mar-14 13.39 12.73 28-Nov-08 13.08 22-May-09 12.94 20-Nov-09 13.29 13.27 23-Jul-10 13.38 18-Jul-14 13.17

Rating/Agency

Issuer

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

12.85

Tenor O/N 1M 3M 6M

Rate (%) 10.5833 14.6585 15.8832 16.9848

Outstanding Value (N'bn)

9.67

O/N

9.96

REPO

Maturity Date

NITTY

581.39 16-Aug-16 Tenor Rate (%) 476.80 27-Apr-17 1M 13.6523 2M 13.8820 20.00 27-Jul-17 3M 14.0507 100.00 31-Aug-17 6M 14.3646 300.00 30-May-18 9M 14.7682 351.30 29-Jun-19 12M 14.8630 233.90 23-Oct-19 193.73 13-Feb-20 600.00 NIFEX 27-Jan-22 Current Price ($/N) 573.14 14-Mar-24 BID($/N) 75.00 199.0000 28-Nov-28 OFFER ($/N) 199.1000 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 299.50 18-Jul-34

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

Rate (%) 10.25 Bid10.50 Yield 10.75 11.00

Tenor

(%)

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

1.24 13.79 13.66 1.93 13.79 13.70 NOTE: 2.18 13.76 13.67 :Benchmarks 2.28 13.76 13.68 * :Amortising Bond 3.02Bond 13.77 13.64 µ :Convertible 4.10 Management Corporation 13.79 13.70 AMCON: Asset of Nigeria FGN: Federal 4.42Government of Nigeria 13.74 13.64 FMBN: Federal Mortgage Bank of Nigeria 4.73 13.72 13.63 IFC: International Finance Corporation 6.69 13.60 Management 13.54 LCRM: Local Contractors Receivables 8.81 Aviation Handling 13.62 Company 13.56 NAHCO: Nigerian O/N: Overnight 13.52 17.17 17.10 UPDC: UAC Property Development Company 14.00 17.74 17.67 WAPCO:West Africa Portland Cement Company 14.50 18.42 18.32 15.17 15.54 15.47 19.16 13.69 13.64

Bid ($/N)

Offer ($/N)

197.01 197.11 201.81 201.93 202.13 Price 202.28 202.87 203.37 204.24 205.31 205.60 207.21Price Bid Price Offer 206.28 213.47 220.29 226.27

99.13 99.28 102.13 102.28 92.80 92.95 NA :Not 91.59 Applicable 91.74 ^ : Market Prices 92.61 92.91 # : Floating Rate Bond 106.71coupon bonds 107.01 ***: Deferred 78.18 78.48 ‡ : Bond rating under review 106.13 106.43 †: Bond rating expired 112.22 N/A :Not111.92 Available 102.86 {r} :Issuer in receivership103.16 88.72 89.02 NGC: Nigeria-German Company 73.13 73.43 UBA: United Bank for Africa 50.33 50.63 68.00 68.30 89.61 89.91

4,746.32 4,435.61

14.97

Description

OBB

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

Agency Bonds

FMBN ***LCRM Modified Duration Buckets

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION

Volume(Bn)

24-May-12 0.00 03-Apr-12 17.25 BOND 09-Dec-11FMDQ FGN 0.00/16.00 20-Apr-12 0.00/16.50 Weighting by Weighting by Mkt 06-Jul-12 0.00/16.50

Outstanding Vol

Value

1,438.13

1,409.48

41.39

43.55

3<5

1,211.19

1,124.68

33.03

36.68

Sub-National Bonds

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

Market

24.56 2.40 INDEX112.22 116.70 66.49 Bucket Weighting

322.38

0.41

322.750.33

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

Mod_Duration

0.01 0.99 1.55 1.91 2.12 Implied Yield

2.63 2.27 2.24 2.66 Implied 2.85

Portfolio Price

17.76 16.65 15.99 16.42 16.61 INDEX

99.83 100.58 99.99 101.57 YTD Return 97.86 (%)

19.01

13.79

105.3566

1,180.41

6.5497

38.72

13.61

111.8206

1,115.76

10.1905

652.73

871.07

25.58

19.77

0.26

42.27

14.78

78.5461

1,103.97

9.6281

3,302.05

3,405.23

100.00

1.00

100.00

14.14

100.6334

1,137.15

7.7678

A/Agusto

KADUNA

31-Aug-10

12.50

8.50

31-Aug-15

0.28

16.63

98.80

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.36

3.23

16.25

98.84

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.63

4.46

18.86

97.24

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.63

3.48

17.88

98.61

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.91

1.00

14.76

92.30

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.17

1.00

15.16

98.53

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.61

1.79

15.55

96.72

12.50 KADUNA 31-AUG-2015

4.44

42 Business | Interview Mr. Folashodun Adebisi Shonubi is the Managing Director of the Nigeria Interbank Settlement System (NIBSS), which is owned by the Central Bank of Nigeria (CBN) and all licensed banks in the country. The platform provides the infrastructure for automated processing of data and fund transfer instructions between banks, discount houses and card companies in Nigeria. In this interview with select media houses, he explains why the Biometric Verification Number (BVN) project was conceived, its advantages, efforts to curtail frauds and constraints of the cashless initiative, among others. DEPUTY EDITOR, BUSINESS, Ayodele Aminu was there What is the level of synergy between the BVN and the National Identity Management Commission to bring about a sustainable identity management system for Nigeria? I think we need to understand the concept of identification. The national identity card is supposed to be the root means of identifying an individual. That means it is general, but you will always find specific ID databases that will be created. There is the national driving licence that applies to people who are of driving age and have decided they want to drive. They are different from those that may be banking customers that cannot drive. So, you will always have different databases. However, the idea is to have a common way of linking them. Somebody has a driving licence and at the same time has an ID for health, how do we ensure it is the same person? That is the idea behind the national ID. With the BVN, we are creating something for banking customers. The purpose is not just to identify, but also ultimately to use it to authorise financial transactions. This cannot be done using the national ID, which would identify, but it is not meant for authorising financial transactions. So, the question then is: How do they work together? Today, we are already implementing the BVN financed by the Bankers’ Committee. It is a means of sharing data. When one enrolls for a BVN, we can make that information available. If you already have the national ID and you don’t have a bank account, once you use it, we pull the information from national ID and update it in creating your BVN identification. This

MONDAY,MAY 25, 2015 NEW TELEGRAPH

‘We’ve started integrating

Shonubi PHOTO: SULEIMAN HUSAINI

is with the intention of making it easy for people so that when you are enrolled for one, it is easier to enroll with the other and we have actually started that process of integration. Based on feedbacks from banks, how would you describe the level of compliance with the directive on BVN? The feedback from the banks is very positive. I think we should start by understanding why we are embarking on the BVN project; you will see that there is no way the banks would not be enthusiastic about it. When the BVN project was initiated, there were three key areas of focus. First and most important of all is for us to identify our customers uniquely across banks and across accounts. So, once a customer enrolls and obtains a BVN, that same BVN is tied to all his bank accounts. Now, relating to identifying is the possibility of banks blacklisting people who have committed financial infractions. It could be fraudsters; it could be people who have forged documents; What happens today is that Mr. A goes to bank E, commits fraud, then runs to bank F and because there is no way of tying all these activities across, we found out that there are quite a lot of losses related to these individuals from one bank to another. BVN removes these losses. The beauty of it all is the unique identification in the financial space. Generally, people say every Nigerian is a crook, but in actual sense, maybe only one per cent

So, given the number of BVNs generated so far, I think June 30 is achievable

of Nigerians are crooks, but the remaining 99 per cent are considered crooks because of that one per cent. So, BVN allows us, again, to find these individuals and to create that blacklists that other stakeholders in the financial space can have access to. With this, even foreigners, through their banks, may be able to identify fraudsters that have been tracked in the Nigerian financial space. Secondly, the BVN would allow us begin to build retail credit. Today, the banks have concerns over identification in retail lending, that is why the entire retail consumer lending portfolio is targeted at people with formal employment whose employers can serve as a point of reference. There are, however, a lot of selfemployed people as well as others working in smaller organisations that require this, but do not have access due to the identification issue, as no bank will take the risk of lending to them. Considering cases of resignation, how will the banks get repayment? But with the availability of BVN, these sets of individuals will also benefit from retail lending as identification and tracking issues will be mitigated. The third, which I have already alluded to, is that we want to be able to authorise financial transactions down the road, on an Automated Teller Machine (ATM) or a Point of Sales (PoS). You can use your biometric identifier to say ‘Yes, this is me and I am authorising the payment.’ So, those are the three key focus areas that led to the BVN project being conceived and

implemented. Everybody is expected to have been captured into the system by June 30; do you envisage any change in that date? No. No. I think we are doing well. Just as most projects, you start slow, but as time goes on, it picks up. The number of enrollment doubles every week. So, given the number of BVNs generated so far, I think June 30 is achievable. For those that have enrolled when are they likely to receive their BVN card? I have gotten my BVN card. I would encourage bank customers to talk to their banks so that they can get theirs as well. The BVN cards are being printed and sent to the banks to distribute to the branches where customers have enrolled. You will be sent a Small Messaging System (SMS) and for those that have their emails stipulated, they will be sent email. What about the cost implications of the cards? It has no cost implications to the customers; we are giving them out to the customers for free. The cost is borne by the Bankers’ Committee, which considers the BVN project very important and that is why they have been bearing the entire cost. The cost of the cards, the cost of integration with National Identity Management Company (NIMC) and almost everything else that has to do with the BVN is borne by the Bankers’ Committee.

Business | Interview

NEW TELEGRAPH MONDAY, MAY 25, 2015

national identity card and BVN’ The company: Nigeria Inter-Bank Settlement System (NIBSS) Plc Founded: 1993 Assets under management: Nil Membership: 13 partners

Is NIBSS that provides the infrastructure for automated processing, settlement of payments and fund transfer instructions not concerned about the rising cases of fraud in the banking system? We are very worried and what gets us even more concerned is that as one executes electronic transactions, a lot more people are participating in that space and cloud. So, it is easier for the banks to invest in new technologies to protect themselves. But now, every business person wants to create a website to sell their products and wares and some of them may not have the capacity to invest in technologies to protect themselves. Thus, once one of them creates a point of leakage, it affects the whole chain. To curb this, one of the initiatives the Bankers’ Committee is putting in place is the anti-fraud platform that payment transactions are connected to; such that if one has a transaction that is fraudulent, it flags it off immediately. It allows us to identify cards that have been reported as fraudulent; it also allows us to do analysis of a particular location or website where fraud is frequently reported for proper monitoring and this initiative is not only for cards. What we are implementing, which is very unique in almost all areas, is to centralise handling of cards, electronic payments and PoS. Most of the solutions available elsewhere are mainly for cards but we have to modify it to allow transactions on other electronic payment platforms. It can create patterns and also highlight suspicious transfers and payments. This platform has gone live; it is currently being used and we are already seeing the benefits. Most of these frauds are insider-related and with click of the computer, the money is gone. Is there no way to set a limit or threshold on the value of transactions allowed at a particular time? This is part of the area the anti-fraud initiative caters for. We agree that there must be a limit, either in frequency or value; all transactions going through the Anti-Fraud Systems are tracked such that if it exceeds that frequency or limit, it is flagged. We are currently building rules now in collaboration with the banks, such that when the system receives transactions that are outside the agreed parameters, these transactions are blocked or flagged and the banks are advised

immediately. It is very difficult to say you want to eliminate fraud, but with all these being implemented, it is our expectation that fraud will be highly mitigated. What have been your challenges? Well, as a banker coming into a processor environment, I think the biggest challenge so far is trying to get the industry to understand what we at NIBSS are trying to do. Unfortunately, those who do not understand our business strategy perceives us as being in competition and that the competition is disruptive because it affects the way they were doing businesses before. Even for some banks, we are seen as removing what they would have considered as propriety or niche because we try to create a uniform platform for the industry. We are however, driven by the Bankers’ Committee. If they say roll out this service, our aim is to go-head with rollout as quickly and as efficiently possible. For us, misunderstanding has been the biggest challenge by far in the industry. Some of my colleagues who are bankers ask: ‘What exactly is NIBSS doing there?’ and for us, the answer is very simple. We are a shared service platform that is supposed to reduce the cost of providing financial services by banks to the public. So, once we reduce that cost for the banks, they are in a position to pass this, in either pricing or better quality service to their customers. Why is it that merchants hide their PoS and they don’t ask you to use it until you demand it for your transactions? There are cultural issues with anything you are trying to do nationwide, across boundaries, across regions and across communities. There are always cultural issues. When we started this journey with PoS three years ago, the major problem was network and a lot of efforts were made - working with the network operators to stabilise the network. The essential problem we are contending with now is more of a cultural issue. Lets use the petrol stations for instance, a customer will not be offered a PoS terminal for payment unless you ask and insist on it; this is because when one buys fuel, first, they encourage you to fill up and the total amount will always be rounded off; secondly, they never have balance to give you back if you need to collect balance from the amount you are required to pay after your tank has been filled. So, who gets the balance? It is the attendant? But with electronic payment, you will be paying the exact amount utilised. It is very interesting to then note that when you sum up all these balances in the range of N5 or N10, it becomes significant daily for the attendant. As such, naturally, it is normal for the attendant to be reluctant about offering PoS for payment. As part of the activities to enhance this culture change and increase adoption of PoS, we are currently working with the

Shonubi PHOTO: SULEIMAN HUSAINI

It is very difficult to say you want to eliminate fraud

CBN and the commercial banks to provide the Electronic Payment Incentive Scheme (EPIS) for sales personnel, merchants and cardholders. The component of the scheme targeted at the sales personnel/attendant is called the ‘Tipping Point’. This component is such that whenever payments are made on PoS, the sales personnel/attendant collect points, which they can redeem for a certain reward. It makes them understand that even though they do not collect the little balance ‘change’ from their customers, if they encourage electronic transactions, they would still be able to get some reward. Part of the loyalty scheme is also targeted at encouraging all cardholders that use their cards to make payments so that by insisting on using your card for payments, you get some of your cash back and you can also collect points that you can redeem for a reward. What other innovations are we expecting from NIBSS regarding electronic payments system in Nigeria? The answer is whatever innovation the banks want us to implement, we would definitely put in place. Our intention is to make the mobile money platform a lot more efficient and seamless in Nigeria. In view of this, we are currently working closely with the Mobile Money Operators to make it possible and easier for customers to make payments with their phones when purchases are made just the way you use your cards. That will encourage the usage of your phones to do transactions because we believe that mobile is key, especially for financial inclusion. In addition, we have commenced regular sessions with software developers, encourag-

ing indigenous innovative ideas and application development that can run on these platforms, thereby encouraging them to increase their scope and do more in terms of employment, as we firmly believe that technology is one of the new frontiers for economic growth. As a purely Nigerian company for local markets, we encourage the local companies to be partakers and be involved in the payment industry. CV

Born - 1962 Education: University of Lagos Master Degree in Business Administration and Master in Mechanical Engineering Career:  1990-1993 Head, Treasury, Citibank Nigeria Limited  1999- 2007 Deputy General, Manager, MBC International Vice – President, First City Monument Bank Limited Executive Director Ecobank Nigeria Limited Executive Director, Union Bank of Nigeria Plc Director, Renaissance Securities Nigeria limited Member, sub-committees of the Bankers’ Committee Total pay Nil Training: Local and international in several Payment System Programmes

MONDAY, May 25, 2015 NEW TELEGRAPH

NEW TELEGRAPH MONDAY,MAY 25, 2015

L-R; Deputy Managing Director, Arik Air, Capt. Ado Sanusi; President-elect, Mohammadu Buhari and Managing Director, Mr. Chris Ndulue, during the team’s visit to Buhari, in Kaduna.

Photo | News 45

Consultant, Colgate Palmolive Oral Care, Dr. Ogechukwu MacJohnson (left), receiving the award presented by the Registrar, Dental Therapists Registration Board of Nigeria, Mrs. Aramide Keshiro, at the induction ceremony in Ibadan.

L-R: Member, Queen of Apostle Old Girls Association, Chief Annette Adejumo; Representative of L-R: Representative of the Chief of Naval Staff, Rear Adm. Johnson Olutoyin; Representative of the Our lady of Apostles Sisters, Rev. Sis. Nuala Edozien; Emeritus Archbishop Catholic Diocese of Chief of Army Staff, Maj.-Gen. Ugo Buzugbe; Chief of Defence Intelligence, Rear Adm. Godwin Okoi; Ibadan, Felix Alaba Job; Principal, Queen of Apostle Commercial Grammar School, Mrs Aderike OjeyComptroller General, Federal Fire Service, Mr Joseph Anebi and other senior Naval Officers, at the inka and Permanent Secretary, Oyo State Tescom, Mrs Teresa Olaitan, at the thanksgiving mass to Nigerian Navy 59th Anniversary Inter-Denominational service in Abuja …yesterday. mark the 60th Anniversary of Queen of Apostle Commercial Grammar School in Ibadan PHOTO-NAN

L-R: Osile Oke Ona of Egbaland, Oba Dr. Adedapo Tejuoso; outgoing Chairman, Lagos Island Club, Prince Ademola Dada and Chairman, NATCOM/Skye Bank Plc, Dr. Olatunde John Ayeni , at a valedictory party in honour of Prince Dada in Lagos…at the weekend

LR: Commissioner, Federal Civil Service Commission, Mrs. Victoria Onwuegbuke; Proprietress, Mother Theresa Orphanage, Abuja, Dr. Ngozi Etolue; Yeye Bolanle Dare; Former Deputy Governor of Anambra State, Dame Virgy Etiaba; Former Special Adviser to the President on National Assembly Matters, Senator Joy Emodi; Barrister Oyibo Obasi and Dr. Uche Uba, during Senator Emodi’s visit to the orphanage as part the of events marking her 60th birthday…at the weekend

L-R: Arc Bishop Magnus Atilade; Director, Youth and Professional, Mr. Adeyombo Adewale and General Secretary, Mr. Eddie Chima Nwadi, during a press briefing in Lagos.

L-R: Chairman, Enugu State NUJ Council, Mr Louis Dilibe; Deputy Governor-Elect, Mrs Cecilia Ezeilo And Vice Chancellor, Godfrey Okoye University (GOU), Rev. Prof. Christian Anieke, during the official inauguration of GOU Radio Stations NUJ Chapel in Enugu

46 News

monday, may 25, 2015 NEW TELEGRAPH

south-west

Former PHCN staff protest in Akure Babatope Okeowo Akure

score of former electricity workers of the defunct Power Holding Company of Nigeria (PHCN) at the weekend protested in Akure, the Ondo State capital, over the failure of the Federal Government to pay them their sever-

ance allowance since the privatization of the power sector. The protesting exworkers, who were mainly former contract staff disengaged from service two years ago, bore placards with different inscriptions such as "we served for over 15 years without payment and benefits", We are dying, please help us", and marched from Hospital road in Akure,

the state capital to other parts of the town to vent their anger over government's refusal to pay them their entitlements. They noted that they were laid off verbally without any letter to back it up, stressing that the management has been calming them down with the promise that government would paid them. The workers who lamented that they had

served for 15 years, said many of them were dying of hunger because of government's insensitivity to their plight. Speaking with reporters, one of the protesters, Tunde Bada, said it was very unfortunate that after two years of privatization, they were yet to be paid by government. He said, "We are pleading with government to help us, we are dying, We

are here to beg because we know this government is going and we don't know our fate. We are telling Nigerians to come out and help us. "We have been doing everything through our union for over two years and the union have been saying they are going to do it. We are surprised that in Akure district we still have over 70 people

that are yet to be regularised and that is not so in other zone". Also, Jacob Aluko ,who was the head of the Human Resources Department at Idanre, before he was disengaged ,wondered why government would neglect people who have served the nation meritoriously without paying them their allowances.

Fayose lifts curfew on Ekiti Adesina Wahab Ado-Ekiti

L-R: General Manager, CCECC Nigeria Ltd, Mr. Li Bing; Public Relations Officer, Mr. Ferg Tao and Oyo State Governor, Abiola Ajimobi, with the Memorandum of Understanding (MoU) on the construction of Light-Rail Transport system for Oyo State at the Governor’s Office, Ibadan…at the weekend.

kiti State Governor, Ayo Fayose, has lifted the dusk-to-dawn curfew imposed on Ado-Ekiti, the state capital, with immediate effect. The governor, who made the pronouncement in Ado-Ekiti yesterday, following the restoration of peace to Ado-Ekiti, urged all residents of Ado-Ekiti in particular and the entire state to be law abiding and conduct themselves in a manner that would not cause further breakdown of law and order.

Governor Fayose, who said he knew the level of hardship the curfew brought to the state capital while it lasted, expressed his sympathy for the people. He, however, warned that the government would not hesitate to apply stricter measures should there be any further threat to peace in Ado-Ekiti in particular and the state in general. It would be recalled that the governor imposed the curfew following clashes between some drivers and Hausa traders, which led to the destruction of properties worth millions of naira.

not AG administered oath on Osun SDP urges Aregbesola to resign over unpaid salaries 'CJ, new Ondo Deputy Governor' becomes a sorry state. as government cannot pay “Reports showed that Adeolu Adeyemo Osogbo

sun State Chapter of the Social Democratic Party (SDP) at the weekend called on Governor Rauf Aregbesola to resign immediately over his failure to pay the state workers’ salaries for seven months. The party Chairman, Mr. Ademola Ishola, who made this known to newsmen in Osogbo, argued that the earlier the better for the governor to quit the seat before the state

According to him: "Aregbesola’s resignation becomes imperative based on the current dismal position of the state economy, education, health and public infrastructures and the inability of his administration to meet several financial obligations of government". “Today, the state education sector is in jeopardy, the economy is in shamble, the health sector is in comatose, public taps are dry and several government offices are in total darkness

LCCI flays energy crisis, warns against collapse of economy Dele Alao

s the current energy crisis takes its toll on economic activities across all sectors of the nation’s economy, the Lagos Chamber of Commerce and Industry (LCCI), has condemned the situation. In a release issued in Lagos yesterday and signed by the president of the chamber, Alhaji Remi Bello, the chamber, which described the ongoing crisis as unprecedented, warned against the collapse of the economy. He noted: “The public

power supply has practically collapsed, with a power generation of slightly above 1000 mw; the option of alternative power generation is fizzling out with the acute shortage of petroleum products. The situation has become unbearable and needs to be fixed urgently. While stating that the LCCI acknowledges that the current administration is winding down, Bello stressed that the impression should not be created that governance has been abandoned.

electricity bills. “LAUTECH Teaching Hospital workers have been on strike for months and we have it on good authority that the UNIOSUN staff may down tools anytime from now. “All the major road projects of his government such as GbonganAkoda dual carriageway, Osogbo-Kwara boundary road and East Bye-Pass Road have been abandoned by the contractors. His International Airport site has been a jungle and nothing appears to be working again”, he said. The chairman added,

Osun received its monthly allocations as and when due including other statutory allocations such as SURE-P funds, ecological funds and excess crude oil revenue. Where is Osun money? Or is our state’s money diverted?” “We are told that the incoming Muhammadu Buhari’s government will bail the state out. Will Buhari who promised to fight corruption just dip his hands in our collective wealth for distribution to a governor who cannot give the account of his stewardship in about five years in office?"

Oyo, Chinese firm sign MoU on light rail project

he Oyo State Government has signed a Memorandum of Understanding (MoU) with a Chinese firm, CCECC for the construction of a light rail transport system covering about 24 kilometres within Ibadan, the state capital. Speaking at the signing ceremony, which took place at the Executive Council Chambers of the Governor’s Office, Ibadan at the weekend, Governor Abiola Ajimobi, described the development

as another milestone in his administration’s quest to modernize major cities in the state. He said that the project was long overdue for the state with a population of over 10 million, stressing that any city with a population of at least two million required a light rail system of transportation. Governor Ajimobi,said that the state was moving up a notch with the provision of the light rail system to ease traffic congestion.

Babatope Okeowo Akure

he Ondo State Government yesterday dismissed the allegation that the Attorney General and Commissioner for Justice, Mr. Eyitayo Jegede, administered the oath of office on the incumbent Deputy Governor of the state, Alhaji Lasisi Oluboyo. Commissioner for Information, Mr. Kayode Akinmade, said the claim by the impeached Deputy Governor of the state, Alhaji Alli Olanusi, that Jegede administered the oath on his replacement was totally incorrect. Olanusi had said in an interview that the oath of office that was administered on the new Deputy Governor, by the Attorney General and Commissioner for Justice of the state, Eyitayo Jegede, was illegal because the Attorney General has no such constitutional powers to administer oath on a Governor or a Deputy Governor" However, Akinmade insisted that the oath administration was conducted by the Chief Judge of the state in the full public glare, adding that the oath book was

also signed by the new Deputy Governor and the Chief Judge, Hon Justice Olaseinde Kumuyi, as the administering authority also in public glare. He said the error of Olanusi, was understandable as he was not present at the event, explaining that the state Attorney General only assisted the new Deputy Governor through the oath taking in the presence and under the watchful eyes of the administering authority, stressing that the state Chief Judge could not have violated the constitution. He said, "Pa Olanusi, was advised to take a deserved rest given his present challenges and thank God that one of his 'children' in the cabinet is the new Deputy Governor" Akinmade said that should Olanusi desire to fight on, he was free to exercise his right to approach any court of his choice, even as he noted that Olanusi's predicament was self-inflicted and his removal by 22 out of the 25-member house of assembly was an eloquent testimony of his rating as all members in attendance supported and endorsed his removal.

NEW TELEGRAPH MONDAY,MAY 25, 2015

N4m bribery scandal rocks Abia Assembly

Igbeaku Orji Umuahia

he alleged collection of a N4 million bribe for the passage of the 2015 budget from the 17 local government councils by the Abia State House of Assembly as appearance fee for their budget defence, is currently rocking the Assembly . The House is said to have collected N200,000 from each of the 17 local government areas amounting to N3.4million and another N50,000 from each of the 17 local government education authorities, which amounted to N850,000 as condition for the passage of their 2015 Budget. New Telegraph gath-

ered that the Appropriation Committee of the House demanded and collected the amount from all the local government council authorities and their Education Authorities for the budget defence which started last week Monday. A source, who preferred anonymity, said that councils which did not pay the money in full, were sent back to complete it before getting the attention of the committee. Some of the councils were said to have protested the difficulty of raising the money since they have been without salary for months. The source further revealed that after the councils had completed their session, “the Education Authorities were asked to

News 47

SOUTH-EAST

come forth with N50,000 each, which they all paid.” “The implication is that each local government council has paid N250,000 to the Appropriation Committee for the budget defence,” the source said. He wondered why council salaries would be delayed when they are already captured and provided for in the budget. The source was also bitter that they had to squeeze

out such amount at a time their salary has been in arrears of about four months and that by ballot. Reacting to the allegation on phone, the Chairman of the Appropriation Committee, Hon Martins Azubuike, said, “What is N200,000 to a local government like Obingwa, for instance, which budget is about N2 billion? If we want to collect money from such a council to pass their budget will it be N200,000?”

Peter Obi calls for Igbo unity

he immediate past Governor of Anambra State, Mr. Peter Obi, yesterday made a passionate appeal for unity among Ndigbo. “What is important is how we can unite and build Igbo land,” he said while interacting with some journalists in Lagos. “We are still quarrelling and it is not good. Let us come together as a family.” Obi, who is the incumbent Chairman of the Securities and Exchange Commission (SEC), dismissed the impression that Igbos lost out by voting massively for President Goodluck Jonathan during the March 28 presidential elec-

tion won by Muhammadu Buhari of the All Progressives Congress (APC). “What did we lose?” he asked, adding: “We didn’t lose anything. We gave support to the South-South and I am happy we did. May be it will make Igbos to come together.” Asked if it is true that he intends to join APC, the former governor said: “The answer is capital NO. I will not join APC. People say so because I attended (Edo Governor Adams) Oshiomhole’s wedding but Oshiomhole is a personal friend.” Obi described PDP’s future as being rosy. “We will rebuild PDP,” he said.

Ebonyi APC disowns Buhari’s solidarity rally Charles Onyekwere ABAKALIKI

he crisis rocking the All Progressives Congress (APC), in Ebonyi State, got worsened, as the state chapter of the party has dissociated itself from the solidarity rally held at the weekend by a faction of the party, led by Pastor Eze Nwachukwu Eze, in support of the Presidentelect, Muhammadu Buhari, where new members were admitted into the party. The rally, according to the party, was spearheaded by members of the Labour Party (LP) with the help of some “disgruntled elements” within the party. The state Chairman of the party, Mr. Ben Nwobashi, in a statement at the weekend, noted that the state executive committee was not aware

of the rally and did not receive the blessings of the party’s leadership in the state and the National Secretariat. Nwobashi expressed dismay that some members of the party, who were supposed to play advisory role for peaceful co-existence of the party, were the ones causing crisis within the party, just to take control of affairs. He advised any new member to suspend their intensions, as the party has suspended membership registration to concentrate on ensuring smooth transition in the country. The Chairman alleged that some stakeholders of the party have gone into secret alliance with the Labour party and aggrieved PDP members to destabilize the APC because the leadership of the party in the state was not contacted for the programme.

L-R: Special Assistant to Anambra State Governor on Youth Empowerment, Hon. Chinedu Obidigwe; Chairman, APGA Congress Committee, Mr. Ifeatu Onejeme and outgoing APGA Chairman, Chief Mike Kwentoh, at the APGA state congress at the Women Development Centre, Awka …at the weekend

Oyegun, Onu receive defectors in Ebonyi Uchenna Inya ABAKALIKI

cores of members the Peoples Democratic Party (PDP), Labour Party (LP) and the All Progressives Grand Alliance (APGA) in Ebonyi State, yesterday decamped to the All Progressives Congress (APC) at a rally held to usher the President-elect, Gen. Muhammadu Buhari, into power. The decampees include; eleven of the thirteen local government caretaker committee chairmen, a factional

Chairman of the PDP, Hon. Ben Akpa, a governorship aspirant of the party and former Commissioner for Works, Transport and Environment, Dr. Paul Okorie, a former youth leader of the party Comrade Chinedu Ogah, Ebonyi south Chairman of the party, Hon Walter Akpa, among others. The decampees were led to the APC by the governorship candidate of the APGA in the general election, Sen. Anthony Ago, Caretaker Chairman of Afikpo North LGA, Hon. Tony Ekoh and National Board of Trust-

ee Chairman of Ebonyi youths Assembly, Comrade Chinedu Ogah. Speaking on behalf of the decampees, Comrade Ogah said they were attracted to the APC because of the qualities of the national leader of the party and former governor of old Abia State, Dr. Ogbonnaya Onu. He described Onu as a detribalized Nigerian who accommodates everyone in all he does, adding that they decided to join him in the party to continue to contribute his best to the

development of the country. Ogah explained that they have been receiving threat over their decision to join the APC and called on the party to carry them along in the scheme of things. Receiving the decampees, the National Chairman of the party, Chief John Oyegun, represented by the South east zonal Chairman, Emma Enukwu said he was sent to come and receive the decampees who joined the party because of Dr. Ogbonnaya Onu to build a united and strong APC in the state.

Monarch wants N25,000 minimum wage for workers Ebonyi Assembly elects new Deputy Speaker Steve Uzoechi OWERRI

he traditional ruler of Oru Ahiara in Ahiazu Mbaise LGA, Eze Joe Oleka, has advocated a minimum wage of N25,000 for civil servants in Nigeria to help mitigate the present high cost of living in the country. The royal father said concerted efforts must be made to improve the welfare of workers, especially the low income earners to bridge the wide gap

between the rich and the poor. He called on the in-coming Federal Government to take necessary steps to reduce corruption, block revenue leakages and reduce cost of governance. The paramount ruler decried the high cost of foods, shelter and transportation, as well as the deplorable state of Nigerian roads. He equally lamented the epileptic power supply, scarcity of petroleum products, stating that the need for transparency, ac-

countability, probity and due process was imperative if rapid advancement of the country was to be achieved. Eze Oleka said workers should be seen as goverment partners and should be carried along for smooth implementation of policies and programmes. He commended the Imo State Governor, Rochas Okorocha, for being the first in the federation to pay the state workers N20,000 minimum wage and urged him to continue the gesture.

Uchenna Inya ABAKALIKI

he Ebonyi House of Assembly has elected Hon. Jerry Obasi, representing Ohaozara West state constituency as a new Deputy Speaker to fill the void created by Chief Blaise Orji, the former Deputy Speaker. His election followed a motion moved by the Chief Whip of the House Chief Ogbonnaya Ikoro. “This House, needs to move forward and effectively conclude its tenure, a situation which makes the

election of a new speaker imperative, as his election was voted by a majority of the members’’, Ikoro said. Hon. Obasi Odefa, representing Onicha East, also moved a motion for the reversal of the appointment of 16 new Permanent Secretaries by the government last Friday, leaving the House to decide whether the matter should be left to be determined by the incoming Assembly. He also moved for the sack of the managements of various boards which tenure has expired, and the

reversal of the sack of the Treasurer of Ezza South LGA by the State Local Government Service Commission (LGSC), who he said refused to sign a cheque of N14 million intended for a gubernatorial petition case. The House also invalidated the seats of three members: Mr Ikechukwu Nwankwo, (Ebonyi NorthEast), Eloy Ogbonna (Afikpo North--East) and Mrs Lilian Igwe (Ivo) for their defection to another party from the Peoples Democratic Party (PDP) which elected them into office.

News

Tension in Bayelsa PDP as Jonathan’s aides are summoned Chris Ejim Yenagoa

here was tension in the fold of the Peoples Democratic Party (PDP) in Bayelsa State at the weekend over the summon extended by the party’s disciplinary committee to the seven key political associates of President Goodluck Jonathan in the state. Those summoned over alleged anti-party activities include the Senior Special Assistant (SSA) to the President on Domestic Matters, Dr. Waripan-

MONDAY,MAY 25, 2015 NEW TELEGRAPH

SOUTH-SOUTH

mowei Dudafagh and six others. Others summoned by the committee include the senator representing Bayelsa Central, Senator Emmanuel Paulker, the former senator representing Bayelsa East, Senator Nimi Barigha-Amangi, the suspended state Chairman of the PDP, Col. Sam Inokoba (rtd), the former Deputy Governor of the state, Werinipre Seibarugu and the former speaker of the state Assembly, Rt. Hon. Nestor Binabo. Barigha-Amange, Seibarugu and Binabo had, last week, shunned the

sitting of the committee, describing the summon as laughable and a deliberate act of witch-hunting. But the statement issued by the committee at the weekend and signed by the Chairman and Secretary of the ommittee, Hon. Cleopas Moses and Dede Ofulu John, said the panel is not out to witch-hunt anybody, but is trying to sanitise the party as well as ensure discipline and loyalty among the rank and file. According to the statement, having received reports about the persons concerned, it was only

proper to get their own side of the story to ensure fairness and equity in the discharge of its assignment. Meanwhile, Governor Seriake Dickson has re-affirmed his commitment to re-position the party ahead of the 2019 general elections, warning opposition parties against peddling his name in a bid to seek political relevance. Making his stand known at the monthly media briefing in Yenagoa, Dickson expressed readiness to join hands with other critical stakeholders to rebuild the party.

Group threatens to disrupt Chevron operations in Delta Cajetan Mmuta Benin

group based in Delta State, Kombot Employment Front in Egbema and Gbaramatu Kingdoms, has threatened to disrupt operations of Chevron Oil Company over alleged shoddy deals in its employment policies. They alleged that the oil firm refused to recall one of their own, Timi Okeoghene, despite the mediation by the National Assembly and the Federal Ministry of Labour and Productivity that both recommended his recall. The group had earlier staged a protest at the premises of Chevron in Warri, Delta State, where they disrupted the company’s activities for several hours, but suspended the protest after the company agreed to meet with them over their demands. But not too sure of the ability of the management of the company to keep to its promise, the

group in a statement signed by its President and Secretary, Yabrade Moses and Asoki Victor and made available to newsmen yesterday said the previous meetings with the oil company and representatives of the group, elders of the communities and other interest groups in which the company agreed to revisit the sack of Okeoghene and agreements on its employment policies were not kept nor implemented. According to them, “This time around, if the issues raised during this protest - reinstatement of Comrade Okirika Timmy Okeoghene and other employment issues - are not adequately and favourably addressed at the proposed meeting, Kombot will have no other option but to take the protest to the flow stations and Chevron facilities in our domain to correct this grave injustice against our brother in particular and the community in general,” the group said.

Edo workers call off strike Cajetan Mmuta Benin

T Akwa Ibom State Governor-elect, Mr. Emmanuel Udom (left), with Governor Godswill Akpabio, during the special thanksgiving to mark the governor’s eight years in office…yesterday

‘How APC, Buhari can bail Nigeria out of economic crisis’ Dominic Adewole ASABA

elta State governor, Emmanuel Uduaghan, has called on the incoming administration of the All Progressives Congress (APC) to contemplate a stimulus package to bail out states and local governments in the federation as a quick measure to bail the country out of its economic crisis. The governor, who attributed the failure of the Peoples Democratic Party (PDP) to grow the nation’s economy to lack of national consensus, called on the in-coming government to forge a national consensus on the economy’s direction, if the country must outlive its present situation. Speaking in Lagos at a book presentation and launch entitled; “Delta Be-

many of us here will recall several attempts that were made by the PDP government at the centre to ensure that we build up our fiscal buffers, reduce our foreign debt, invest in foreign assets through sovereign wealth fund and have something for the rainy day, but somehow lack of national consensus made that impossible.”

he organised labour in Edo State has called off its proposed three-day war ning strike today following an agreement reached after a closed-door meeting with the state government over issues of workers’ pension scheme. Besides, the state Head of Service (HoS), Mr. Jerry Obazele, has withdrawn an earlier letter he wrote to the state leadership of the labour unions, informing them of the proposed plan to embark on the deduction from the workers’ monthly sala-

yond Oil: A legacy of Sustainable Development,” written by Mr. Sam Omatseye, at a forum organised by the Nigeria Institute of Directors, the governor suggested that the stimulus package must be quickly addressed. According to the governor, the present economic quagmire bedeviling the country has crippled over 30 states, including the

Federal Government as they were not able to fund recurrent costs, including payment of salaries. He said: “I stand with those asking for stimulus package for the states and local governments. This has to be discussed and attended to quickly. Over 30 states of the federation now resort to borrowing to meet basic needs. He continued; “I am sure

Dominic Adewole

Uduaghan: I’ll not scrap DESOPADEC

ASABA

elta State Governor, Dr. Emmanuel Uduaghan, has doused the tension generated by his bill to the state House of Assembly, where he proposed to restructure the state’s Oil Producing Area Development Commission (DESOPADEC), saying he would not scrap the organisation. The governor also denied that the new DESOPADEC bill was targeted

at stampeding the fortune of any ethnic group or was designed for political aggrandisement. He warned his critics to stop politicising government policies, but be abreast of the provisions of the bill before blackmailing him. He lamented that his intension to strengthen the commission before he hands over to Senator Ifeanyi Okowa was misconstrued, wondering why his

detractors said he has an ulterior motive to accomplish before May 29. Speaking during the inauguration of an ultramodern Arts and Craft Centre in Emede, lsokoSouth Local Government Area of the state, the governor said contrary to claims by his detractors, the bill was intended to boost the commission’s service delivery and meet the yearnings of the host communities. He said: “I have never

contemplated scrapping DESOPADEC. I only sent a bill to the House of Assembly to restructure and strengthen the commission and make it responsive to the yearnings of our royal fathers, women and youths and to ensure more participation in the decision making process of the commission. “They should stop blackmailing government and stop misleading the masses.”

ries which would have commenced this month. The executives of the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC) and the Joint Negotiating Council (JNC) announced the suspension of the proposed strike shortly after the meeting with Governor Adams Oshiomhole on Friday. Speaking on behalf of labour, Chairman, Joint Negotiating Council, Mr. Shaka Otoide said: “In view of the notice we gave to the Edo State government to embark on a three-day warning strike with effect from Monday, May 25, 2015, after a meeting between the Edo State government and the Joint Negotiating Council including the Nigerian Labour Congress, the Trade Union Congress, the strike action has been suspended. He said: “The circular from the Office of the Head of Service that the deductions be commenced in May has also been withdrawn. The eight per cent that was deducted from the salary of the workers will be paid back, so the proposed warning strike has been called off.”

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Disqualified Reps-elect asks court to set aside judgement Tunde Oyesina Abuja

he House of Representativeselect in the Ado/ Okpokwu/Ogbadibo Federal Constituency, Christian Abbah, whose election was voided last Wednesday by the Federal High Court sitting in Abuja, has asked the Court of Appeal to set aside the judgement. In a notice of appeal filed by his counsel, S. I. Ameh, SAN, Abbah submitted that the judgement of the court was a nullity because it was

delivered without jurisdiction. Ameh said the trial judge, Justice Adeniyi Ademola, though aware that an appeal on the suit was pending before the Supreme Court, still went ahead to determine the suit. He further stated that apart from the appeal pending before the Supreme Court, there was an application for stay of proceeding pending before the trial judge. He also faulted the refusal of the trial judge to convert the originating summons with which the plaintiff filed the case to a

writ of summons. Ameh further faulted the trial judge, saying that there was no evidence before the lower court to support the finding that the appellant committed fraud and perjury. He added that the documents relied upon by the court were discredited by the documents submitted by the appellant. He also asked the appeal court to set aside the judgement on the ground that it was against the weight of evidence. He asked the court of appeal to remit the case back to the Federal High Court for fresh trial by another

judge other than Ademola. Justice Ademola had, last Wednesday, ordered the Independent National Electoral Commission (INEC) to nullify the certificate of return issued to Abah as he held that the allegation of certificate forgery levelled against him, by the plaintiff, Hassan Saleh, was proved. Abah was said to have forged an Ordinary National Diploma certificate in Accountancy purportedly obtained from the Federal Polytechnic, Mubi, in 1985. Justice Ademola held that his findings revealed that an earlier judgement of the national and state

Chairman, Bauchi State Concerned Professionals (BSCP), Mr Ahmed Almustapha (left), presenting a document on the State Rapid Development Strategy to Bauchi State Governor-elect, Alhaji Mohammed Abubakar, in Bauchi …at the weekend

Kano DISCO blames transmission company for crisis Muhammad Kabir Kano

ven with the shortfall in national power generation and distribution, the Kano Distribution Company (DISCO) has accused the Transmission Company of Nigeria (TCN) for shortchanging the state. Similarly, the DISCO warned that power supply may collapse in the entire nation if the current power supply, which stands at 150 megawatts, is not improved upon. This was the contention of the Managing Director of the Kano Electricity Power Company, Jamil Gwamna. Similarly, Kano, which is supposed to be enjoying eight percent of the total power generation of the entire national power generation is now receiving less than 30 megawatts, throwing the state into total black out. Gwamna told the media in his office on Friday that they signed the performance contract agreement with the Transmission

assembly Election Petition Tribunal sitting in Makurdi delivered on September 6, 2011, and a letter by the Registrar of the polytechnic, Mr. Suleiman Buba, affirmed that the certificate presented by Abah to INEC was forged. The court, however, ordered the Inspector-General of Police, Solomon Arase,

Jang promises to support successor Musa Pam Jos

he outgoing governor of Plateau State, Jonah Jang, has promised to support the incoming All Progressives Congress (APC) government of Simon Lalong, to succeed for the good of Plateau people. Jang made the promise yesterday in Jos during a church service to mark this year’s Democracy Day. He said he and other former governors are willing and ready to support Lalong. “Anyone on that seat, we will all support to succeed in order to make Plateau greater,” he assured. Jang, who is the senatorelect to represent Plateau North, said his government, like other administrations the world over, was unable to complete all the projects it set out to execute in the last eight years and hopes that the incoming administration would complete them.

governorship election again with a promise to donate their platform under which he would anchor his campaign, stressing that a formal letter, dully signed by representatives of all the local governments in the state for onward delivery to him. In the statement signed by the convener of the group, Comrade Ahmed Ahmed, the group said the indelible marks Abubakar left in the old Benue State as commissioner and the first civilian governor of Kogi State are evidences that he is, indeed, the man for the job.

NCC: Telecom masts no threat to health

national standards,” she assured. The guidelines for the installation of masts and towers, according to her, were designed to ensure that all masts and towers sited within residential areas conform to the commission’s standard of 5-metre set back to mitigate the effect of heat, smoke, vibration and noise pollution arising from generating sets used to power the base stations, among others.

Muhammad Kabir Kano

he Nigeria Communications Commission (NCC) has debunked insinuations that telecom masts and towers are capable of causing health hazards, saying that the rumour is not true if guidelines of installations are properly adhered to.

“We have completed some of the projects while some are ongoing and others are still on the drawing board and we hope that the incoming government would complete them. “When we came on board in 2007, there were some uncompleted projects initiated by the administration before us and we completed them,” he said. On his part, Lalong, who will take over the government on May 29, 2015, tasked the people to love one another and remain united, saying that it is only through unity that the desires of the people would be met. The Governor-elect, who was represented by Hon. James Barry, said that hatred destroys a people, but love unites and helps in the process of bringing desired development. He appreciated God for keeping Nigeria and, indeed, Plateau one and promised not to do anything that would threaten the unity of the people.

candidate Group seeks Audu’s return to Lugard House LP backs Saraki state of affairs of Kogi is deplorable under the present leadership of the Peoples Democratic Party (PDP) so much that it would only require person of Abubakar’s status, who had distinguished himself in public and private service, to salvage the situation. The group reeled out some of the legacies of the former governor to include, Lokoja-Ajaokuta road, township roads in Ayamgba, Idah Ankpa, Okene, Kabba, Egbe, among others, which according to them, have convinced them to urge Abubakar to contest the

Company of Nigeria that the state will enjoy whopping eight per cent of the total power generation in the entire country, adding that they believe that Kano will, in the near future, be free from such epileptic supply. “However, as it is now, we hardly receive three percent of the total power supply, out of which 30 megawatts goes directly from source to Niger Republic, leaving them with less than 10 megawatts; that is why last month in Kano, we experienced 12 times power shortage from the main distribution company.

to immediately commence prosecution of Abah for forgery and perjury. Abah, who was the Peoples Democratic Party (PDP) candidate for the constituency was unopposed and had been declared elected by INEC being the only candidate presented for the March 28, 2015 election.

Philip Nyam Abuja

gitation for the former governor of Kogi State, Price Audu Abubakar, to return to the Government House in the coming governorship election in the state received another boost over the weekend, as a group under the auspices of ‘Bring Back Abubakar Audu Coalition,’ has called on the APC chieftain to re-contest the gubernatorial election. The group stated this in a press statement that the

This was revealed by the Director, Consumer Affairs Bureau of the commission, Maryam Bayi, in her opening remarks at the 72nd edition of Consumer Outreach Programme held at Central Hotel, Kano, with the theme; “Telecom Masts and Towers on Human Health.” Bayi further disclosed that; “The topic becomes

imperative in order to demystify the misinformation being propagated about the effects of mast and towers on human health.” As a regulator, “NCC affirms and always stands by global best practices in ensuring that the installation of telecom masts and towers operators are done in accordance with inter-

for Senate president Biodun Oyeleye Ilorin

wara State gubernatorial candidate of the Labour Party in the April 2015 general elections, Dr. Mike Omotosho, has declared his support for the aspiration of Dr. Bukola Saraki to become the Senate president in the Eighth National Assembly. A statement issued yesterday in Ilorin and signed by his Special Assistant on Youth and Student Matters, Comrade Charles Folayan, said Omotosho’s ambition is to contribute meaningfully to the development of the state. He, therefore, pledged to support any issue that will better the lives of the people of Kwara State through direct empowerment and good governance, which he said he will continue to do with or without occupying any elective office.

50 WORLD | News

MONDAY, MAY 25, 2015 NEW TELEGRAPH

Ethiopia votes with ruling party set to return

thiopians voted yesterday in the country's first general elections since the death of strongman Meles Zenawi in 2012, with his successor Hailemariam Desalegn all but certain to stay in power. Over 36.8 million Ethiopians registered for yesterday's polls, but analysts say the election in Africa's second-most populous nation falls far short of true democracy. The opposition also alleges the government

has used authoritarian tactics to guarantee victory. The outgoing Ethiopian parliament had one opposition MP, and one of the main opposition candidates, Yilekal Getinet, accused the government of "closing" political space. Voters stood peacefully in lines in the capital Addis Ababa. Stations were calm, without long queues but a regular flow of people passing through to cast their ballots. Posters of the ruling Ethio-

pian People's Revolutionary Democratic Front (EPRDF) dominate the capital, and the party is again expected to get a near-clean sweep of the 547 seat parliament. "I except the EPRDF to win - but maybe the opposition will get more seats so there will be more discussion about what the government is doing," said Wossen, who was waiting to vote. "It is better for the country -- now there is only one opposition MP and no discussion." Polls opened at 6:00

am (0300 GMT) yesterday, and were to close at 6:00 pm (1500 GMT), with initial results expected within two to five days, and final official tallies on June 22. African Union observer mission chief Hifikepunye Pohamba, a former president of Namibia, described the elections as "peaceful and orderly" in a preliminary assessment.

Poles vote in cliffhanger presidential election runoff

Gay marriage supporters celebrating outside Dublin Castle following the result of the referendum.

Church reels after Ireland's huge â&#x20AC;&#x2DC;yes' to gay marriage

he once-dominant Catholic Church in Ireland was trying to come to terms yesterday with an overwhelming vote in favour of gay marriage, saying it needed a "new language" with which to speak to people. As jubilant "Yes" supporters nursed their hangovers after partying late into the night following Saturday's referendum result, the faithful attended mass to hear their priests reflect on the new social landscape in Ireland. "The Church has to find a new language which will be understood and heard by people," Archbishop Diarmuid Martin of Dublin, one of the Church's most senior figures, told reporters after mass at the city's St Mary's Pro Cathedral. "We have to see how is it that the Church's teaching on marriage and family is not being received

even within its own flock." He added: "There's a growing gap between Irish young people and the Church and there's a growing gap between the culture of Ireland that's developing and the Church." The majority of Irish people still identify themselves as Catholic but the Church's influence has waned in recent years amid growing secularisation and after a wave of clerical child sex abuse scandals. During the campaign, bishops spoke against changing the law, while older and rural voters were thought to have accounted for much of the "No" vote. Final results showed 62 percent in favour and 38 percent against introducing gay marriage in a country where being homosexual was a crime until 1993. As Sunday's newspapers marked the result with

colourful pictures of partying "Yes" supporters, they noted the heavy blow to Church authority. Niall O'Connor wrote in the Sunday Independent: "The once unshakeable influence of the Catholic Church over Middle Ireland has been confronted." Ireland will become the 19th country in the world to legalise same-sex marriages once the necessary legislation is approved as expected in the coming months.All of Ireland's 43 constituencies except one voted in favour of the measure and the 60-percent turnout was far higher than in previous referendums, as thousands of expatriates returned home to cast their ballots. It was the first time ever that gay marriage had been approved by popular vote.

Burundi opposition leader murdered

housands of Burundian activists mourned a murdered opposition leader at his funeral yesterday, vowing to intensify their protests against a bid by the president of the central African nation to seek a third consecutive term. Opposition leaders also said they were suspending talks with

the government of President Pierre Nkurunziza after Zedi Feruzi, the leader of the Union for Peace and Development (UPD), a small opposition party, was gunned down in the capital on Saturday. "Those who killed Feruzi Zedi will pay sooner or later," one sign held by mourners read. The killing came a day

after a grenade attack on a busy market killed three people and injured around 40 others. The attacks have dramatically worsened tensions in the crisis-hit country, where a heavy-handed crackdown on the anti-government demonstrations has already left around 30 dead since late April.

Three observers from different parties were seen in stations in the capital's Kazanches and Cherkos districts, but in other centres only EPRDF observers were present. "So far, so good. I did not see any problem," said an observer from the opposition Semayawi party. Some security vehicles with water cannons were seen on the streets, but the city was calm.

oles voted yesterday in the final round of a cliffhanger presidential election race between the conservative incumbent Bronislaw Komorowski and an even more conservative challenger. In his five years in office, the 62-year-old Komorowski has been popular and was expected to win reelection easily. But he narrowly lost in the first round of voting to Andrzej Duda, a little-known 43-year-old lawyer and member of the European Parliament with the Law and Justice party who waged an energetic campaign. Polls in recent days have shown yesterday's race as being too close to call. Duda's strong showing in the first round on May 10 has exposed a rising disillusionment with the longruling Civic Platform party, with which Komorowski is allied. The party has governed Poland since 2007 and

been marred by a string of corruption scandals. Its fortunes have also fallen with the departure from Poland of its charismatic former leader and prime minister, Donald Tusk, who is now the European Union president. The first round had a large protest vote for a rock star, and political analysts say a majority of those votes will probably go to Duda. On the other hand, many people who didn't vote then were expected to vote this time, and many of those votes are expected to go to Komorowski. At 5 p.m., with four hours of voting left, turnout was 40.5 percent, the state electoral commission said. That compared to nearly 34.5 percent by the same time in the first round of voting. The president has limited powers but the election is being closely watched as a sign for how Civic Platform and Law and Justice will fare in the more significant parliamentary election this fall.

Mass graves of suspected trafficking victims found in Malaysia

ass graves and suspected human-trafficking detention camps have been discovered by Malaysian police in towns and villages bordering Thailand, the country's home minister said yesterday. Home Minister Ahmad Zahid Hamidi said officials are determining whether the graves were of humantrafficking victims, but did not say how many dead bodies were discovered. "This is still under investigation," he told reporters on the sidelines of an event in Kuala Lumpur. According to media reports, the mass graves were believed to contain the bodies of hundreds of migrants from

Myanmar and Bangladesh. Police discovered 30 large graves containing the remains of hundreds of people in two places in the northern state of Perlis, which borders Thailand, the Utusan Malaysia newspaper reported. The Star newspaper reported on its website that nearly 100 bodies were found in one grave on Friday. "I reckon it was a preliminary finding and eventually I think the number would be more than that," Ahmad Zahid said when asked about reports of the number of mass graves discovered. Ahmad Zahid said the camps identified are in the areas of Klian Intan and villages near the border.

Iraq regains ground from Islamic State

raqi forces recaptured territory from advancing Islamic State militants near the recently-fallen city of Ramadi yesterday, while in Syria the government said the Islamists had killed hundreds of people since capturing the town of Palmyra. The fall of Ramadi and Palmyra, on opposite ends of the vast territory controlled by Islamic State fighters, were the

militant group's biggest successes since a US-led coalition launched an air war to stop them last year. The near simultaneous victories against the Iraqi and Syrian armies have forced Washington to examine its strategy, which involves bombing from the air but leaving fighting on the ground to local forces in both countries.

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NSC pays 16 federations N238m

Manu: Awoniyi better than Iheanacho, Success

EPL final day drama, Hull City out

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Did you know? That Arsenal scored 105 goals in the just concluded EPL season from 21 different scorers

Taribo tasks Keshi on Eagles, AFCON Ajibade Olusesan

ormer Super Eagles defender, Taribo West, has said that if Coach Stephen Keshi picks the right players he will perform well in his second spell. Taribo is one of those pundits who believe Keshi can do a good job and he said that the coach could make his business easier if he paid more attention to selecting good players to prosecute matches. He said although challenges before the coach were daunting, with the right support he can surmount them. “Keshi has to get his selection right all the time. He is a good coach and I believe he can still turnaround the fortune of the team but this is one important area of his job I know he will focus more on. I don’t know why people are still not comfortable with Keshi, any coach can lose matches, big coaches lose matches so

we don’t need to kill him because he loses some matches. We need to support him now. “We still have good players but he must get the right mix of these players to achieve results. He has to settle down quickly and plan his strategy,” He urged the Nigeria Foot-

ball Federation to work well with the coach to enable Eagles to make it to the 2017 AFCON. “I am hopeful Eagles will make it to the tournament. Keshi can do it, he has done it before and I know he will do it again. The NFF and indeed Nigerians must support him and

his team. We have to be more serious in terms of preparations, it is very important for us to get results,” he said. The Super Eagles begin their campaign in the 2017 AFCON qualifiers with the June 13 match against Chad scheduled to hold in Kaduna.

French Open: Federer in good start

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

Federer

Nigeria’s forward Emmanuel Emenike running with the ball against Sudan players during ab AFCON qualifiers.

orld number two Roger Federer eased into the second round of the French Open with a 6-3 6-3 6-4 win over Colombia’s Alejandro Falla in Paris. The 17-time Grand Slam champion improved as the match progressed but only won four of 16 break points. In the women’s event, third seed Simona Halep battled to a 7-5 6-4 win over unseeded Russian Evgeniya Rodina. Elsewhere in Paris, men’s eighth seed Stan Wawrinka outclassed Turkey’s Marsel Ilhan 6-3 6-2 6-3. Such is Halep’s level of fame in her native Romania, people will stop her on the streets to kiss her, but the 23-year-old can quietly get on with business in Paris. Last year’s finalist, who is bidding for a first major title, will have to improve on her opening-round display if she is to match last year’s efforts. “It was a tough match because it was first round and always it is difficult to start the tournament,” said the 23-year-old, who was broken three times and made 26 unforced errors against Rodina. “Yes, I did make some easy mistakes, but it’s normal and I accept that. Next round, I will be better for sure.” Seven-time champion Roger Federer suggested the All England Club is in his bad books over their latest clothing guidelines for players. The all-white policy has been tested over the years by the likes of Andre Agassi and Serena Williams, but now it seems the Swiss is being pushed to the brink.

52 Sport

MONDAY, MAY 25, 2015 NEW TELEGRAPH

NSC pays 16 federations N238m Adekunle Salami

he National Sports Commission has paid the outstanding allowances and travelling expenses of 16 sport federations. Director General of the NSC, Alhassan Yakmut, who stated this on Saturday also noted that N238m was paid to all the federations the apex sports ruling body was owing. Yakmut stressed that all the federations that travelled without collecting their allowances have been paid. He said:”I met various issues on my table but I am happy that of the associations were duly handled last Wednesday. The NSC is not owing any federation again. “We are going to take care of other sports but there must be good planning with us on all programmes of the federations.” The DG who assumed office only last month said he would approach the various problems in the sport sector in four ways.

“The problems will be tackled with a short term, medium term and long term plans. There will also be a focus on how to sustain existing structures,” Yakmut said. After conducting official inspection on the facilities at the National Stadium, Lagos, the DG was unable to hold back tears over the poor state of the edifice. “There is a connection between the Stadium and I. Between 1981 and 1990, I was an athlete and I enjoyed the facilities. I was shocked that the place has deteriorated badly,” he stressed. The DG also revealed that the 140bed high performance centre in Abuja would be opened on Wednesday by Vice President, Namadi Sambo, adding that Category A athletes would move into it immediately, but it would be finally opened for camping in June. “Nigeria spends so much money on hotels and other things but we need to be better organized. The place will be ideal for camping and it will be avail-

able for all sports including football,” Yakmut said.

were all at last year’s FIFA World Cup finals in Brazil. Exciting right back Leon Balogun, Israel –based John Ogu, former Switzerland junior international Steven Ukoh, China –based Aaron Samuel and Odion Ighalo, whose 20 league goals helped Championship side Watford FC to the English Premiership, have also been called alongside former junior international Rabiu Ibrahim. New faces William TroostEkong, a defender based in

Yakmut

The Netherlands, Kingsley Madu of AS Trencin in Slovakia and Portugal –based Anderson Esiti complete the list. THE FULL LIST Goalkeeper: Vincent Enyeama (Lille OSC, France) Defenders: Godfrey Oboabona (Rizespor FC, Turkey); Kenneth Omeruo (Middlesbrough FC, England); Leon Balogun (Darmstadt 98, Germany); William TroostEkong (FC Dordrecht, The Netherlands); Kingsley Madu

Welfare: LMC ready to apply deduction rule, says Dikko Adekunle Salami

he League Management Board has vowed to activate the deduction rule against clubs that are not meeting their obligations in the Nigerian Professional Premier League. LMC Chairman, Shehu Dikko, who stated this on Saturday in Lagos said the welfare of the league players was important to the body. Dikko said: “There is a rule that states that we can deduct points when players are being owed but the players have to write first to us and then we will also write the

team to give 60-days ultimatum. “So far no player has done that. In fact, we have cases whereby some of them will even lie to us that they have been paid.” The LMC boss stressed that there were various problems in the league that the body was working hard to address. “We cannot perform magic overnight. We are talking to the clubs managements on various issues. It is important that we are looking at situations the same way. “Now that the league is on break, we are hoping that things get better when we resume.”

Charles Ogundiya

Keshi invites Enyeama, Balogun, Omeruo, 12 others for Chad oach Stephen Keshi has invited goalkeeper and skipper Vincent Enyeama and 14 other overseas –based professionals for next month’s 2017 Africa Cup of Nations qualifying match against Chad in Kaduna. The three –time FIFA World Cup star is joined by defenders Godfrey Oboabona and Kenneth Omeruo, midfielders Ogenyi Onazi and Babatunde Michael and forward Ahmed Musa, who

Okorocha College lifts Shell Cup

(AS Trencin, Slovakia) Midfielders: Ogenyi Onazi (SS Lazio, Italy); John Ogu (Hapoel Be’er Sheva); Babatunde Michael (Volyn Lutsk, Ukraine); Rabiu Ibrahim (AS Trencin, Slovakia); Anderson Esiti (Estoril FC, Portugal); Steven Ukoh (BielBienne FC, Switzerland) Forwards: Ahmed Musa (CSKA Moscow, Russia); Aaron Samuel (Guangzhou R & F, China); Odion Ighalo (Watford FC, England)

ochas Okorocha Foundation College, Ogboko, Imo State, on Sunday won the 2015 edition of the annual NNPC/Shell Cup. The Imo State team defeated Government Day Secondary School, Gwale, Kano 2-1 inside the main bowl of the Teslim Balagun Stadium, Surulere, Lagos. The highly entertaining game saw Rochas Okorocha taking the lead in the first half, Government Day however returned in the second half to get the equaliser. As the game was drawing to a closey Okorocha College restored their lead and managed to hold on for the victory. The winning school took home the sum of N2.5 million for development of sports facilities in the school while each of the players was rewarded with cash price of N50,000. In the third place game earlier played on Sunday, Rezheight High School Benin, Edo State defeated Government Day Secondary School, Kofar Yandaka, Katsina State 5-2. Speaking after the game, SPDC’s Sustainable Development and Community Relations Manager, Mr. Igo Weli, said the championship had achieved its target for the year. “The championship has reached another height this year,” Weli said. “More players and coaches were part of the clinic organised by our partners from Feyenoord Academy, and I hope they will make use of the experience.”

Glo corporate subscribers visit Old Trafford

igh-end corporate subscribers who went on an all-expense paid trip to watch the live English Premiership match between Manchester United and Arsenal FC at the Old Trafford Stadium, Manchester, courtesy of national telecoms company, Globacom, have all returned to the country. Recounting their experience, the returnees described their trip as ‘a memorable experience’. Globacom, official telecoms partner of Manchester United in Nigeria, Ghana and

Benin Republic, organized the trip to reward its loyal top-end subscribers. Mr. Kamaldeen Shonibare, Head, Corporate Sales led the lucky subscribers on the trip. The corporate subscribers include Managing Director of SB Telecoms, Afolabi Abiodun, Executive Director, Services/Company Secretary, Mid-Western Oil, Chris Omoru, Group Head, Procurement and Services, Oando, Folahan Mudashiru, Head of I.T, Frigoglass, Babatunde Muftau, and Head of IT, MRS Oil

Plc, Oghenekaro Ologe. Speaking on the trip, Shonibare, said: “this was just one of the numerous benefits enjoyed by Glo subscribers. He enjoined Nigerians yet to join the Globacom network to do so without delay for a delightful experience.” One of the high-points of the journey was the presentation of a customized jersey, endorsed by the Manchester United players to Mr. Ologe, a gift for successfully predicting the Manchester United versus Arsenal match.

Scrabble Federation to get Akpabio’s land gift

kwa Ibom State Governor, Chief Godswill Akpabio, has pledged, to the provide land and issue a Certificate of Occupancy to the Nigeria Scrabble Federation to build a complex in the state before leaving office on May 29. Akpabio, who made the pledge Saturday when members of the NSF, led by the chairman of its Akwa Ibom State chapter, Engr. Ufot Ebong, paid him a courtesy visit at the Governor’s Office, Uyo, said he was impressed with the success of scrabble game in the country. The governor assured them

of the continuous support of the state government and to work with them for a greater success of scrabble game in the country. He then congratulated the President of the NSF, who is also the African President of Scrabble Association, Alhaji Suleiman Gora, on his elevation and thanked him for the idea to build a scrabble headquarters in the state. Speaking earlier, the Ebong, thanked the governor for his success in the recent elections, believing that he had brought in a worthy successor to continue in the uncommon transformation strides of the state.

L-R: Man Utd Legend, Lou Macari; Executive Director Services/Company Secretary, MidWestern Oil, Chris Omoru; Head of Corporate Sales, Globacom, Kamaldeen Shonibare; Head IT, Frigoglass, Tunde Mufutau; Man Utd Legend, Gary Pallister; Head IT, MRS Oil, Oghenekaro Ologe; Man Utd Legend, Arthur Albiston; Group Head, Procurement & Services, Oando Oil, Folahan Mudasiru and Managing Director, SB Telecoms Afolabi Abiodun, at the Old Trafford Stadium during Globacom’s corporate customers trip to Manchester United.

Interview 53

NEW TELEGRAPH MONDAY, MAY 25, 2015

Manu

Manu: Awoniyi better than Iheanacho, Success

Flying Eagles coach Manu Garba in this interview with the team’s media officer, Samm Audu, speaks on his topstriker, Taiwo Awoniyi, the team’s chances as well as his fears at the U-20 World Cup which kicks off this weekend in New Zealand. How was the training camp in Nurnberg, Germany? It has been a very good training site, there are no distractions. So, it has been very good for our preparations for the World Cup. You beat Hoffenheim U-23, Nurnberg U-19 and SC Freiburg U-23 in all three training matches you played in Germany. What is your own assessment of the team’s performances in these games? Did it bring out the best in your team? I can say the first game against Hoffenheim was very, competitive as they are a good side. I would say I was very impressed with the way the boys played as they were playing together after a long time. I was happy with the way they played, the way they kept the ball and they scored five fantastic goals despite the fact that we had a few mistakes especially in our recovery and failing to convert some chances. These are some of the things we are now trying to address before the World Cup. The second game we played was better than the first, although the opposition was not as stiff as that of the first game. But we were able to perfect all our movements in that game. We scored some fantastic goals again and there was an improvement in the ball circulation. Taiwo Awoniyi played 35 minutes in the first game and 45 minutes in the second game and he scored six goals. This means we are getting there attack wise, but we still need to work on our defence. This is where we need to work on before the World Cup kicks off. The match against Freiburg was our best game because we created so many chances even though we failed to convert most of them. What exactly do you need to work on in the defence? The mental speed of the players – they do recover in good time, but they often fail to do the marking when it matters most, to close up on the opposition. But I believe before the World Cup, the defence will be a lot tighter because we will surely work on those areas. This is the major weakness of this team. You have announced your final 21-man squad for the World Cup. Are you satis-

fied with your selection? I am very, satisfied because it has been very, very tough getting to this final squad. If you look at players like Abdullahi Alfa, who played every minute at the last World Cup, is out of the team, so too Samuel Okon, Muazam (Alhassan Ibrahim), who has been on good form lately. But above all, I will beat my chest any day to say that this was the best team we selected from this set of players. This is because we took the selection departmentally. The midfield is the main strength of this team but with the inclusion of Isaac Success, Kelechi Iheanacho and Moses Simon, the attack will be very, very deadly. It will be difficult to get an attack that will be as deadly as that of Nigeria. So, coupled with the compactness and strength of the midfield, I believe this is a very good squad and we just need prayers for the boys to win every match at the World Cup. How much stronger is this team than that at the African Youth Championship? A player like Kingsley Sokari was not there (in Senegal), a player like Iheanacho was not there, a player like Success was not there, Moses was not there, Wilfred Ndidi was not there and Nwakali wasn’t there. These are players who can play for any team any day once they are fit. The team are much stronger than that at the AYC. I believe many people will be working with the team they saw at the AYC, but they will be surprised to see different players, who are much better in terms of technique and exposure. When they pick up, this team will be unstoppable throughout the championship.

player at Belgian club, Gent. Kelechi has been on superb form. He is one player who can be relied upon if he is free of injury and I believe he has recovered from that injury. I believe their inclusion in the team will go a long way in adding more strength to the team. We are also not saying these players will come in automatically to the first team, they will be coming in gradually for them to find a synergy with the other players. The fear of some is that these players have not been with the squad for many months and so they will not be able to blend with the group quickly. Do you share such fear? No. I don’t have any fear because these players have been with us. Even Moses Simon was with us in the early part of the U17 team before he went on to play for the U20 team. He may not know our philosophy, but for Kelechi and Success, they know how we play right from the U17s. Kelechi even played the qualifiers. All the same, it will not be difficult for Moses because he played in the same academy in Kaduna with Musa Yahaya and he is a striker who knows when and how to move. It will be easy for him to adapt. We will have two, three training sessions together (in New Zealand) and they will again know how we play and what we want them to contribute to the team.

Two, three You have been quoted as saying that “if trainings will you don’t make it to my training camp, be enough for you are out of my final squad”. But we them to blend? see Success, Iheanacho and Simon were They are all not in Germany, yet they will be in New coming from Zealand for the World Cup. competition and I said that because the players who so you can’t fault have been training with us understand their fitness level. our philosophy and have undergone all I am more about the trainings, but you can’t take away them integrating with anything from Success, who is playing the rest of the team. for a club like Granada and he is injury The language of free and doing well. Moses is the most important CONTINUED ON PAGE 54

the game is simple – If you have the ball, before you release it, you have to look up and see the movement of your player. If the other player has the ball, you have to move to a vital space to receive the ball. I believe getting that cohesion will not be very difficult because two of them, Kelechi and Success, have been with this team, while Moses will adapt very quickly. The Flying Eagles are drawn against fivetime champions Brazil, North Korea and Hungary in the first round. What do you know about these teams? Sincerely speaking, we know very little about them, but then everyone knows the Brazilian philosophy – they play the way we want by moving the ball from the rear, they don’t kick long balls. This style is good for our own pattern of play. The Hungarians are from Europe, they will play a more direct game, while the Koreans are very, very fast and they like moving the ball. But we are a team who do not want to be diverted from the way we play and so we want the opponents to play the way we want. We have really worked very, very hard and I believe by the time we are in New Zealand, we will be ready for any team in the world. Your opening match is against mighty Brazil, who have won this competition five times. How are you looking forward to that game and how crucial is it to your aspiration? I respect all the teams who have qualified for this championship and that includes Brazil, who have been good at this level, but believe me, Brazil is Brazil and Nigeria is Nigeria. Brazil have won the World Cup several times, but Nigeria have got silver twice and a bronze. I could recall Mexico came to last U-17 World Cup as defending champions and they had not lost a match for two years. But against a Nigerian side, who did not play a test game for a month, we defeated them 6-1. This is not to say we will be overconfident. We are confident in ourselves to beat Brazil in our opening game. We are very ready for the World Cup. You said you will go to the World Cup as African champions and after that you said you wish to make history as the first Nigerian team to go all the way and win the U20 World Cup. Are you on track in this regard? Yes, I said before the AYC that I wish to go to Dakar to qualify for the Worl Cup as African champions. I still believe we can go all the way to win this U20 World Cup for the first time for Nigeria. Nigeria have reached the final twice and we got a bronze in Moscow (1985). This time we have a team who are very focused, determined and want to go out there and win the World Cup for Nigeria for the first time. But we cannot do that by merely

Awoniyi

International Sport

MONDAY, MAY 25, 2015 NEW TELEGRAPH

EPL in dramatic end, Hull City out

ull City were relegated from the Premier League after drawing goalless with 10-man Manchester United at the KC Stadium on the final day of the season. Steve Bruce knew he needed to oversee a first victory over United in his managerial career if Hull were to have any chance of escaping the drop at Newcastle United’s expense - as they did in 2009. Newcastle’s 2-0 victory over West Ham ultimately ensured even a win would not have been enough for Hull, who were unable to find a breakthrough on Sunday despite United substitute Marouane Fellaini’s 77th-minute sending-off. Meanwhile, Chelsea wrapped up their Premier League titlewinning campaign with a 3-1 victory over Sunderland at Stamford Bridge on Sunday. Diego Costa confirmed his status as the club’s number one striker with his 20th league goal of the season, a 36th minute penalty to cancel out Steven Fletcher’s opening goal before Loic Remy completed the win with two second half goals. Drogba, meanwhile, was carried from the field by his teammates when he was replaced after a brief, 28-minute appearance that had all the signs of a final farewell. The mood was set before kickoff when members of Chelsea’s 2005 title-winning team were reunited on the pitch before kickoff to mark the tenth anniversary of that success. Three line-up of that team – Drogba, John Terry and Petr Cech - were in the starting members as Chelsea set the seal on their fourth title in a decade.

• As Chelsea end season in style

PREMIER LEAGUE RESULTS Arsenal 4 - 1 West Brom Aston Villa 0 - 1 Burnley Chelsea 3 - 1 Sunderland Crystal Palace 1 - 0 Swansea Everton 0 - 1 Tottenham Hull 0 - 0 Man Utd Leicester 5 - 1 QPR Man City 2 - 0 Southampton Newcastle 2 - 0 West Ham Stoke City 6 - 1 Liverpool

PREMIER LEAGUE TABLE

Chelsea players celebrating their EPL title triumph on Sunday

Savannah Conference wins 2015 DStv All-Star game Emmanuel Tobi

avannah Conference All Stars at the weekend won their second successive DStv Premier Basketball League All Star game at the Indoor Sports Hall of the National Stadium despite the heavy down pour in Lagos on Saturday. Powered by reigning All Star MVP Abubakar Usman’s 31 points and Kano Pillars team mate Ibrahim Yusuf ’s 18 points including 4 from behind the arc, the Savannah

Conference All Stars put up a shooting clinic on their way to a 102-66 points victory over the Atlantic Conference All Star team. Despite boasting of the likes of legendary Tunji Awojobi who was limited to just nine points, Ben Uzoh (11points) and William Ndoumbe (9 points) all on their roster, the Atlantic Conference All Stars were dominated in the 2nd and final quarters (10-26) and (16-30). 2014 DStv All Star Game Most Valuable Player, Abuba-

kar Usman, retained his MVP trophy going home with a DStv Explora decoder for his exploits, while magical Lagos Islander’s forward William Ndoumbe, who put up a show in the Slam Dunk Contest took the Slam Dunk King’s crown with style. Mark Mentors’ Timothy Kwaor shoved off the stiff challenge of team mate, Azuoma Dike and Sola Alayande (Lagos Islanders) to retain his 3 point shooting contest trophy which also had a DStv Explora Decoder to go along with.

Team

Pts

1 Chelsea

2 Man City

38 45

3 Arsenal

4 Man Utd

38 25

5 Tottenham

38 5

6 Liverpool

38 4

7 Southampton 38

8 Swansea

-3

9 Stoke City

10 C’ Palace

-4

11 Everton

-2

12 West Ham

-3

13 West Brom

-13

14 Leicester

-9

15 Newcastle

-23 39

16 Sunderland

-22 38

17 Aston Villa

-26 38

18 Hull City

-18

19 Burnley

-25 33

20 QPR

-31

35 30

Manu: Awoniyi better than Iheanacho, Success CONTINUED FROM PAG E 53

talking about it, we intend to take every match as it comes. So, the most important game now is the match against Brazil. When, and not if, you win the World Cup, what will be the next step for you and the team? I am a firm believer in destiny and I always put the country first. The most important thing for me now is to make sure we go to the World Cup and accomplish our mission of winning the tournament. Whatever comes after that, God knows what I will be and when I will be. Wherever he takes me to, I will remain grateful to God Almighty because he determines everything. Right now, God knows the team who will win the World Cup – it is our hope and prayer that it will be Nigeria. We have come a long way, we have worked very hard throughout the qualifiers, managing ourselves in all aspects, but our major focus has remained to win the World Cup. With God on our side, we can do it. Could you pick a particular player from this very talented team who will shine at the World Cup? Right from the qualifiers, Taiwo Awoniyi has been very consistent and he has improved match after match. He is a player who gets into a scoring position better than any other player I believe if he stayed calm, he will

be one player who will do very, very well at the World Cup. There are some others like Kelechi Iheanacho, who was the best player at the last U17 World Cup. If he was free of injury, he will hit very big as well. There is also Kingsley Sokari. If he listened very well and works very hard too, he will have a great World Cup. You cannot forget a player like Moses Simon, who has been fantastic in Belgium, he will be great. I believe the best player and highest scorer (of the World Cup) will come from my team. With such a presentation of top quality players, won’t you have selection problems? We have a way we choose our team here – the starting team will be the best players in the week of the match, the player who are injury free and who are in top shape and the right frame of mind to deliver the goods. With these 21 players, you can close your eyes and say this 11 will start and they will do well. At times, the bench will be stronger than the starting line-up. Sometimes you win your match from the bench. There won’t be selection problems because we will pick players who understand each other more, so that the cohesion and the rhythm will go well. Team play comes first before any individual showmanship.

So, is it safe to say this is the best team you have ever worked with? I believe the U-17, who won the World Cup two years ago are the best because this team are yet to play in the World Cup. With the U-17s, we broke so many records – Best player, best goalkeeper, won the fair play trophy and so on. But this team in terms of quality has improved a great deal. We cannot rate them because they have not played at the World Cup yet. This team is the delight of any coach at this level. We just hope these boys keep their cool, listen to what we teach them and with God on our side, we will win the trophy. Finally, how confident are you Nigeria will be crowned world champions on June 20? I am not overconfident, but right from when I was born I do not entertain fear in whatever I do because God has a way for everybody in life. I go into any challenge without fear but with good preparation, I pray very well and ensure the team is united. No matter how good a team is, when there is no unity between the officials and the players, it will affect the team on the pitch. But this team has been very wonderful. The officials are a team and so in Senegal despite some few problems, we managed ourselves and at the end of the day we won the trophy with a half strength team.

Iheanacho

NEW TELEGRAPH MONDAY, May 25, 2015

On Marble

World Record

Sanctity of Truth

July 21/22, 2009: Longest total solar eclipse of the 21st century lasted for 6 minutes and 39 seconds.

“Success doesn’t come to you, you go to it.”

– Marva Collins

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

MONDAY, MAY 25, 2015

N150

Public arena : the column you write

Buhari: Cheap way to fight corruption Osa Director

erhaps, never in the political history of Nigeria has the victory by a presidential candidate generated so much verve, enthusiasm and collective sense of accomplishment than the emergence of General Muhammadu Buhari, who will become, simply, mister, from 29 May, 2015. Although comparable in feat to the Buhari’s victory is the famous June 12, 1993 presidential election widely acclaimed to have been won by the debonair publisher, philanthropist and business man, late Chief Moshood Abiola. But the Abiola’s mandate was truncated in mid trajectory by the toothy General Ibrahim Badamasi Babangida, (IBB) who annulled the election that was adjudged by both local and international observers as free and fair. But, God never sleeps. What a bitter way to inflict a moral blow on IBB’s solar plexus than for Nigerians to have overwhelmingly voted for General Buhari, a man IBB conspired with his ilks to topple from power about 30 years ago. It is not unlikely that IBB is already having regular nightmares as the inauguration day beckons. Well, that is a story for another day. As at today, General Buhari’s victory stands in Nigeria’s political landscape as the single most popularly accepted victory in the annals of presidential elections in Nigeria. It becomes even more historic by the statesmanship exhibited by the incumbent President Goodluck Ebele Jonathan, who graciously conceded defeat and put a call through, to congratulate the President-elect. That is a historical feat in the annals of our chequered political history and adventures. Relatedly, Buhari’s victory also marks the first time an incumbent President is facing political defeat. A situation never imagined! Many have described Buhari’s victory as a bloodless revolution. Perhaps true. However, the General’s victory at the presidential poll is also peculiar for some other significant reasons. For instance, factually speaking, Buhari is the only candidate in Nigeria’s political firmament since independence on October 1, 1960, to have consciously and deliberately sought, fought and begged to occupy the nation’s plum office of civilian President and Commander-In-Chief. For the records, Alhaji Abubakar Tafawa Balewa, Nigeria’s first Prime Minister in the First Republic was seconded to Lagos by the powerful Sarduana of Sokoto, Sir Ahmadu Bello, who was too busy in Kaduna and the Northern part of Nigeria to come to Lagos. Balewa never wanted to be Prime Minister. Alhaji Shehu Shagari, the President of Nigeria during the

Buhari

Second Republic, indicated his interest to go to the Senate. But the amiable and austere classroom teacher was nudged by what the media, rightly or wrongly term the Kaduna mafia, an amorphous but all powerful group with tap roots in the north and satellites in the South of Nigeria to ascend the throne as executive President on October 1, 1979. Meanwhile Chief Olusegun Obasanjo’s second coming as civilian President in 1999 was a political magic orchestrated by the nation’s political mind benders. Obasanjo, who was roasting away in Yola prison was suddenly uprooted by a cabal in the military (both retired and serving as at that time) and catapaulted to Aso rock with the subtle machinery of the state, utilizing the now rocky platform of Peoples Democratic Party (PDP). These political magicians had thought that Obasanjo would be their pliant stool pigeon while in office. Again, why and how they fell apart

As General Buhari often said during his campaign, we must kill corruption before corruption will kill us

is a story for discussion another day. However, when Obasanjo was leaving office, after the failure of his third term bid and hidden-open agenda he planted whom he thought would be a stooge, Umaru Musa Yaradua. Obviously, having served as two term governor of Katsina State, with his health challenges, Yar’Adua wanted to retire and have a deserved rest, shuttling between his home state of Katsina and Kaduna State. Unfortunately, Yar’Adua died in office before the completion of his first term in office. The coveted plum job and office on a platter constitutionally fell on the lap of then Vice President, Goodluck Ebele Jonathan. It is now part of our collective national history and political tale-telling, well known to all and sundry that Jonathan was a man propelled by Goodluck. He never struggled for anything. They always fell in place for him on account of sheer Goodluck. Really, Jonathan became deputy governor of Bayelsa State by luck. He was made governor by combination of fate and Goodluck, as he was railroaded into office as governor of the oil rich state when his boss, Diepriye Alameseigha fell on bad times. Again Lady Luck was at work for Jonathan when he was flown from Bayelsa to Abuja on a presidential jet without being briefed on the reason for the trip. But he was rewarded handsomely for embarking on this uncertain flight to Abuja with the office of Vice President. He was handpicked as Vice President to Yar’Adua by outgoing President Obasanjo. Therefore, General Buhari’s victory on March 28, 2015, was also significant, immensely so, for the sheer fact that till date, he remains the only person to have desired and struggled democratically to occupy the office of president and commander-in-chief, a record, four times. On the previous occasions when General Buhari lost, or was robbed, he always went to the law courts to seek justice. Thus sign posting his born again credentials, as a democrat. It is for these and many other reasons Nigerians are full of high, very high expectations even, though some of such expectations are unrealistic with our present national realities. But thank goodness, General Buhari and the All Progressives Congress (APC) are not unaware of such high expectations, in some instances, they promoted it during the electioneering campaigns. And perhaps, rightly too, Buhari and the APC have started pleading with Nigerians not to expect miracles. But failure will certainly not be an option either! The beauty of the whole process is that General Buhari has been able to identify the core problem and obstacle to sound national development and entrenchment of democratic principles cum values in Nigeria.

And, that singular challenge is the vice of corruption. It is trite to say that every segment of our national life is afflicted with the virus of corruption. Even during some past military regimes were the syndrome of settlement reigned supreme, corruption was a directive principle of state policy! Therefore, General Buhari’s identification of the war against corruption as the major plank of his policy thrust is liberating. It is indeed a strategic master stroke, if only applied and pursued without fear or favour. Nigeria has lost over a trillion dollars to corruption in over 50 years. This is not to mention the unwarranted humiliation Nigerians are subjected to by the international community on account of ravaging corruption in the country. As General Buhari often said during his campaign, we must kill corruption before corruption will kill us. But how do we as a nation go about fighting this monster without wasting much money and resources in the process? How do we tackle corruption from its tap roots? How can the fight against corruption be made self sustaining? Apart from obvious justice sector reforms that are required, which Professor Yemi Osinbajo, the Vice President-elect, is competent in, there are two basic and cheap ways to tame this monster. One, is through exemplary leadership. The second option is tackling the virus by attacking corruption of the mind. As the Chinese proverb admonishes, if a fish is rotten it must have started from the head. Hence when the leader is a person of spartan discipline and incorruptibility, the disciples and followers are left with no choice. This is where the public records, and person of General Buhari have a magic touch. In order to tackle corruption of the mind, the Buhari government must be prepared to run a strong enlightenment campaign literarily verging on national indoctrination as state ideology, emphasizing the virtues of corruption-free society and a nation of verifiable morality. Here the National Orientation Agency should no longer be one of those parastatals to give job to the boys. It must be removed from the bureaucracy of the Ministry of Information and placed under the presidency. Competent media and communication experts must be head hunted to draft and drive its policies – a national campaign against corruption. Perhaps, a starting point will be to review the policies and strategies of War Against Indiscipline and Corruption of 1983 and the relevant and related policies of MAMSER, because political corruption is indeed the hydra head of corruption in Nigeria. • Osa is a journalist and a lawyer based in Lagos.

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