Monday, october 17, 2016 binder1 by Newtelegraphonline

Kalu: EFCC wants to convict me at all cost Tunde Oyesina

…challenges transfer of case from Abuja to Lagos

Financial Crimes Commission (EFCC) of plotting to convict him at all cost. He also challenged the transfer of suit No

ABUJA

Kalu

former Governor of Abia State, Dr. Orji Uzor Kalu, has accused the Economic and

FHC/ABJ/CR/56/07 filed against him and two others by the Federal Government from Abuja to Lagos. Kalu, in a letter through

his counsel, Amobi Nzelu, dated October 15 and addressed to the acting Chairman of the EFCC, Mr. Magu

CONTINUED ON PAGE 6

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Monday, October 17, 2016

Dangote acquires gas processing plant in }2 Netherlands

/newtelegraph /newtelegraph

Vol. 3 No. 971

Dangote

Air crash: Dana, others receive N400m claims from co-insurers }26

Amaechi

Fire razes 94 shops in Lagos }44

@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com

The burnt complex

N150

Customs dismisses 17 officers for drug addiction, certificate forgery }6

Ali

We lived without food for 40 days –Chibok girls }2

21 rescued girls reunite with parents FG: Bigger batch of abducted girls on the way 1

1… One of the freed Chibok schoolgirls strapped on her mother's back. 2…One of the girls, her father and her son. 3 & 4… Some of the girls with their parents at a special thanksgiving service in Abuja … yesterday.

Buhari to Aisha: Stay out of politics

...insists wife must remain in kitchen lPresident must listen to his wife on cabinet –Okorocha }6 Heart Surgery devices have life-threatening risk – Study }37

NEWS

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

We lived without food for 40 days –Chibok girls

Obinna Odoh ABUJA

he 21 Chibok Girls who regained their freedom last week Thursday have revealed that they stayed without food for one month and 10 days while in the custody of the Boko Haram insurgents. Many of the girls also escaped bomb blast while in the forest with the insurgents. They were among the over 200 schoolgirls abducted from their hostel at the Government Girls Secondary School, Chibok, Borno State in April 2014. One of the rescued girls, Miss Gloria Dame, who

narrated their ordeal on behalf of her colleagues, said their release from captivity was an act of God. She spoke at a thanksgiving service organised for them at a DSS health facility in Abuja yesterday. The girl, who spoke in Hausa language, said that their survival in captivity was an act of God. “I did not know that a day like this will come that we will be dancing and giving thanks to God among people. For one month and 10 days we stayed without food. I narrowly escaped bomb blast in the forest. “We are praying to God to touch the heart of Boko Haram to repent and we are calling on Nigerians to pray and fast for the release

of our remaining ones in captivity,” she said. While the service was going on, the parents of the freed girls arrived the venue and were reunited with their loved ones after over two years of their abduction. With the arrival of the parents, the environment was charged with emotion and tears of joy. Tears flowed freely as parents took turns to identify their daughters at the service, amidst tears of joy in an emotion-laden atmosphere. One woman simply carried her daughter on her back in happiness. The parents who took turns to address the congregation, expressed ap-

preciation to President Muhammadu Buhari and all Nigerians for their efforts and prayers towards the rescue of their daughters. Chairman of Chibok Local Government Council, Mr. Yaga Yarakawa, said the release of the girls was historic and the Chibok community, at home and in the Diaspora, were happy about the development. Yarakawa said contrary to views of some Nigerians, the 21 freed girls were the actual Chibok Secondary School girls kidnapped by Boko Haram. “Before their abduction, I was involved in supervising their feeding, which was organised by the Borno State Secondary Schools

L-R: President of the Church of Brethren in Nigeria (EYN), Rev. Joel Bilili; Minister of Information and Culture, Alhaji Lai Mohammed and Director, Medical Services of the Department of State Services (DSS), Dr. Anne Okorafor, at a special thanksgiving service in honour of the released Chibok girls in Abuja… yesterday.

Chibok: IBB, CAN laud FG, rejoice with parents Yekeen Nurudeen and Dan Atori

ormer Military President, Gen. Ibrahim Babangida (rtd), has called on President Muhammadu Buhari and the security agents to hasten negotiations to free the remaining girls and rehabilitate them from psychological trauma they might have encountered in the last two and half years IBB stated this while rejoicing with the families, people of Nigeria and indeed Nigerian government, over the release of 21 of the abducted Chibok girls, last week. He said that it was a thing of joy for the girls to have been reunited with their families. Babangida, in a statement signed by his media officer, Mahmud Abdullahi, said that the release of the 21 girls signalled hope, after such moments of despair that the abduction of over 200 schoolgirls brought to the family and the entire country as well as global community. He said: “I urge the Federal Government, security agents and other partners to hasten negotiations to

free the remaining girls and rehabilitate them from psychological trauma they might have encountered in the last two and half years. “I believe in the professional capability of the Nigerian armed forces and other security agencies in ensuring that an end is put to the activities of the Boko Haram sect completely. “They (Nigeria armed forces) have the training and the professional background to end all forms of security threat to the nation such as kidnapping, armed robbery, cattle rustling, farmers/herders clashes and other forms of vandalism. “It is gratifying to see the release of 21 of the girls, after delicate negotiations with the Boko Haram. It is an indication that President Muhammadu Buhari's government is committed to ensuring safe release of the girls.” He lauded the efforts of the president in the resilience showed on the release of abducted schoolgirls despite the general lethargy and dampening spirit caused by the mode of operation of the deadly group.

He also called on all Nigerians to offer all forms of assistance to the released Chibok girls in order to overcome the mental, physical and psychological trauma they had gone through over the past two and half years. Meanwhile, President of the Christian Association of Nigeria (CAN), Rev. Samson Ayokunle, has commended the Federal Government for the breakthrough recorded by getting 21 of the kidnapped Chibok girls freed. Ayokunle, in a statement by his spokesman, Bayo Oladeji, assured the Federal Government of CAN’s prayers to ensure every of the Chibok girls still in captivity are released. “The release of the 21 girls is one of the best news we have ever received this year from the government as a nation. Let the government be aware that CAN is with them in prayer in getting the rest of the girls released and that they should leave no stone unturned in getting the rest that are still alive released,” he said. The leadership of CAN

also rejoiced with the parents of the released girls and prayed that the rest of the parents would also have their children returned to them very soon.

Feeding System. So, I know them very well. These are the real girls and you can see when their parents came, you see their joy, it manifest naturally. “This is enough to tell you that it is a reality and anybody who says different things or doubts, may be the person has a different agenda altogether,” he said. Yarakawa appealed to government to put all necessary machinery in place to ensure the release of the other girls. Speaking in same vein, the Chairman of Abducted Chibok Girls’ Parents Association, Mr. Yakubu Nkaki, thanked the president for the release of the girls. Nkaki said from the physical looks of the girls, it was obvious that they were not radicalised as claimed by some people. He also debunked the claim that many of the girls were pregnant. Minister of Information and Culture, Alhaji Lai Mohammed and Minister of Women Affairs, Hajiya Jummai Alhassan, attended the service. Mohammed, who addressed the congregation, appealed to commentators and analysts to refrain from making statements that could jeopardise the release of the Chibok girls who are still in captivity. “There are many reckless analysts and commentators who are not helping the situation. We still have many of our children in captivity. Therefore, we have to be careful with the kind of comments that we make. We must not make comments that will make the release of these girls difficult or impossible. “When the president

said that the Boko Haram saga will not be closed until all the girls abducted have been released and reunited with their families safely, those who doubted did not believe us. So, we thank God this day has come,” he said. The minister appealed to the parents of the girls who were yet to be freed to continue to exercise patience, saying that government was optimistic that very soon another batch of the girls, bigger than the current one, will be released. “This is the beginning and we are very optimistic that very soon another batch bigger than this will be released. I want to assure you that these negotiations are on-going even as we speak,” Mohammed said. Dr. Shiktra Kwali, who delivered the sermon at the thanksgiving service, told the girls that as they start a new life in freedom, they should not allow the experience of the past to weigh them down and urged them to remain steadfast in serving the Lord, who has not forsaken them even in captivity. Several ministers of God, including the President of the Church of Brethren in Nigeria (EYN), Rev. Joel Bilili, offered prayers for the girls. The high-point of the occasion was the reunion between the parents and their daughters. The ceremony ended with an identification parade, as each of the freed girls identified her parents who in turn made brief comments, with many of them praising President Buhari for ensuring the safe release of the girls.

Dangote acquires gas processing plant in Netherlands Sunday Ojeme

s part of its strategies to meet Nigeria’s gas requirements, Dangote Industries Limited (DIL) has completed the acquisition of a gas plant, Twister B.V., a company headquartered in The Netherlands. A statement made available to New Telegraph yesterday said the acquisition would complement DIL’s portfolio of investments in the upstream, midstream and downstream segments of oil and gas sector. The company was formerly owned by Shell Technology Ventures Fund 1 before its recent acquisition by DIL together with its partner – First E&P. It is expected to help design and build the plants

that are critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline for ultimate consumption by various industries and power plants. Speaking on the new deal, President/Chief Executive Officer, Dangote Industries Limited, Aliko Dangote, said: “This was an important acquisition for us. Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about three bcfd of gas in order to meet Nigeria’s gas needs.” On his part, Twister’s CEO, John Young, said: “We are delighted in the confidence DIL and First E&P have shown in Twister to be their core provider of gas separation solutions. After a very

thorough due diligence, our technology has been recognised as a key enabler to reduce gas project costs, which is crucial in this current environment. We are excited to be part of the Dangote family of companies.” According to the statement, Twister B.V. delivers reliable, high-yield and robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors. Based on sophisticated patented technology, Twister gas plants are typically cheaper to build and operate compared with alternative technologies. It also delivers better performance levels. The company has customers in Nigeria, Malaysia and South America.

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

S/N CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Access Bank Plc RC125384

RETURNS ON SOURCES AND UTILIZATIONOF FUNDS FOR THE WEEK ENDED OCTOBER 14TH, 2016

BANK: ACCESS BANK PLC DATE OF RETURNS: 17/10/16 SOURCES OF FUNDS

UTILIZATION OF FUNDS

SOURCE

DATE OF PURCHASE FUND

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

HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE OWN SOURCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE INTERBANK HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE OWN SOURCES HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE OWN SOURCES DOM CONVERSION HOMEWARD REMITTANCE HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE DOM CONVERSION INTERBANK DOM CONVERSION UNUTILIZED BALANCES OIL COMPANY HOMEWARD REMITTANCE INTERBANK HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE DOM CONVERSION HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE OWN SOURCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE HOMEWARD REMITTANCE UNUTILIZED BALANCES INTERBANK DOM CONVERSION DOM CONVERSION UNUTILIZED BALANCES OWN SOURCES

13-Oct-16 10-Oct-16 13-Oct-16 12-Oct-16 10-Oct-16 14-Oct-16 11-Oct-16 12-Oct-16 10-Oct-16 13-Oct-16 14-Oct-16 14-Oct-16 11-Oct-16 10-Oct-16 14-Oct-16 10-Oct-16 11-Oct-16 14-Oct-16 12-Oct-16 10-Oct-16 11-Oct-16 12-Oct-16 11-Oct-16 13-Oct-16 12-Oct-16 11-Oct-16 13-Oct-16 13-Oct-16 12-Oct-16 13-Oct-16 13-Oct-16 12-Oct-16 14-Oct-16 12-Oct-16 11-Oct-16 14-Oct-16 13-Oct-16 14-Oct-16 10-Oct-16 13-Oct-16 14-Oct-16 11-Oct-16 11-Oct-16 10-Oct-16 13-Oct-16 13-Oct-16 12-Oct-16 10-Oct-16 10-Oct-16 11-Oct-16 14-Oct-16 11-Oct-16 14-Oct-16 11-Oct-16 11-Oct-16 10-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 12-Oct-16 10-Oct-16 12-Oct-16 11-Oct-16 12-Oct-16 12-Oct-16 11-Oct-16 13-Oct-16 12-Oct-16 11-Oct-16 12-Oct-16 13-Oct-16 13-Oct-16 12-Oct-16 14-Oct-16 11-Oct-16 14-Oct-16 12-Oct-16 14-Oct-16 10-Oct-16 13-Oct-16 12-Oct-16 12-Oct-16 14-Oct-16 14-Oct-16 12-Oct-16 12-Oct-16 11-Oct-16 10-Oct-16 12-Oct-16 11-Oct-16 10-Oct-16 14-Oct-16 13-Oct-16 14-Oct-16 12-Oct-16 11-Oct-16 10-Oct-16 11-Oct-16 14-Oct-16 12-Oct-16 10-Oct-16 10-Oct-16 14-Oct-16 12-Oct-16

EXCHANGE RATE

314.00 347.94 369.92 314.00 370.00 314.00 314.00 314.00 304.75 314.00 314.00 305.00 350.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 358.25 314.00 314.00 314.00 370.00 314.00 370.00 314.00 314.00 304.50 314.00 314.00 314.00 314.00 370.00 314.00 314.00 314.00 314.00 314.00 304.75 314.00 350.00 314.00 314.00 314.00 349.99 314.00 314.00 314.00 314.00 370.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 359.78 314.00 304.50 314.00 314.00 304.50 314.00 315.00 370.00 370.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 307.77 370.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 370.00 314.00 314.00 314.00 314.00 314.00 314.00 304.50 314.00 314.00 314.00 304.50

AMOUNT

70.15 6,261.16 6,669.35 92.25 100,000.00 539.50 324.82 1,387.60 5,635.47 65.00 3,148.19 100,000.00 37,250.47 1,665.80 129.58 29.91 1,367.15 419.61 1,000.00 3.00 2,724.94 33,386.00 125.00 730.00 300.00 14,296.06 810.31 52,371.88 116.29 358.33 8,267.58 675.00 0.57 826.59 27,255.00 35,079.12 69.95 70.14 10,000.00 3,174.63 1,649.32 9,844.23 944.58 89,881.46 85.30 3,325.40 95.57 30,438.82 753.89 1,264.44 230.00 336.27 220,000.00 356.50 174.43 190.00 229,299.37 115.78 283.97 1,386.02 12,563.06 18.00 8,455,000.00 212.78 1,680.24 11,991,000.00 1,877.70 255,000.00 11,076.56 72,554.57 6,434.40 490.00 2,550.00 325.00 2,183.77 1,707.45 118.82 230.00 3,990.00 54.78 75,361.13 1,657.50 917.56 7,216.56 28,118.98 170.45 6,468.00 266.01 38.00 1,860.66 2,191.86 79.49 200.00 150,000.00 726.26 389.88 300.00 633.23 1,952.06 12.00 6,670,500.00 22.00 310.00 624.28 1,660.77

S/N CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

CHELLCO INDUSTRIES

ACRYLIC TOW

10-Oct-16

361.00

25,000.00

CHI PHARMACEUTICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

168.26

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

168.03

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,359.46

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

175.00

CHI PHARMACEUTICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

362.82

WACOT LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

901.73

WACOT LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

168.17

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

167.93

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,233.58

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

406.92

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

175.00

HAREFIELD INDUSTRIAL NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

149.71

TARABAROZ FISHERIES LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

60.00

TARABAROZ FISHERIES LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

180.00

DANA MOTORS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

159.48

DANA MOTORS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

159.48

ORIENT GLOBAL MANUFACTURING LIMITED OFFSHORE CHARGES

10-Oct-16

361.00

254.95

AIRTEL NETWORKS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

366.07

AIRTEL NETWORKS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

222.26

TOYOTA NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

928.00

LOTUS PLASTICS LTD

OFFSHORE CHARGES

10-Oct-16

361.00

652.80

HOLLKEM NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,083.88

CHI PHARMACEUTICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

557.49

CHI PHARMACEUTICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

484.92

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

490.08

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

879.72

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

168.68

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

778.06

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,067.40

PRIME PLASTICHEM NIG. LTD

OFFSHORE CHARGES

10-Oct-16

361.00

250.00

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

604.45

CHI PHARMACEUTICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

492.65

WACOT LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

989.11

WACOT LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

550.69

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

491.09

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,137.98

MONTANA IND.NIG.LTD

OFFSHORE CHARGES

10-Oct-16

361.00

663.17

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

175.00

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

450.98

COSCHARIS TECHNOLOGIES LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

3,732.83

LOTUS PLASTICS LTD

OFFSHORE CHARGES

10-Oct-16

361.00

58.72

CHI PHARMACEUTICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

451.64

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

490.05

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

760.76

COSCHARIS TECHNOLOGIES LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

3,510.98

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

412.35

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

74.72

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

74.72

HAREFIELD INDUSTRIAL NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

282.02

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

74.55

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

280.02

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

405.00

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

464.46

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

446.79

FRIESLANDCAMPINA WAMCO NIGERIA PL

OFFSHORE CHARGES

10-Oct-16

361.00

281.27

FRIESLANDCAMPINA WAMCO NIGERIA PL

OFFSHORE CHARGES

10-Oct-16

361.00

285.13

TG ARLA DAIRY PRODUCTS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

9,805.10

TG ARLA DAIRY PRODUCTS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

4,902.55

DE UNITED FOODS INDUSTRIES LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

266.26

FRIESLANDCAMPINA WAMCO NIGERIA PL

OFFSHORE CHARGES

10-Oct-16

361.00

1,506.16

FRIESLANDCAMPINA WAMCO NIGERIA PL

OFFSHORE CHARGES

10-Oct-16

361.00

1,095.21

DE UNITED FOODS INDUSTRIES LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

597.74

HAREFIELD INDUSTRIAL NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

282.02

HAREFIELD INDUSTRIAL NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

156.46

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

10-Oct-16

361.00

148.49

DANTATA PLASTIC LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,060.03

DANTATA PLASTIC LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

1,153.55

CFAO YAMAHA MOTOR NIGERIA LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

696.89

EPOXY OILSERV NIG LTD

OFFSHORE CHARGES

10-Oct-16

361.00

991.89

VACC TECHNICAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

678.92

CENTURY GLOBAL AGRICULTURAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

221.00

EASTERN HORIZON LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

647.72

EASTERN HORIZON LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

13.51

BEL PAPYRUS LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

250.00

SEAGLE INTERNATIONAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

270.00

SEAGLE INTERNATIONAL LIMITED

OFFSHORE CHARGES

10-Oct-16

361.00

245.91

MASTERDRILL NIGERIA LIMITED

2016 MERCEDES BENZ AND 2016 BMW

10-Oct-16

361.00

71,661.27

JUMOKE WALE-SEBIOMO

PTA

10-Oct-16

361.00

4,000.00

SHERIFF ALADE JABAR

PTA

10-Oct-16

361.00

4,000.00

PAULETTE OBRUCHE LEO-OLAGBAIYE

PTA

10-Oct-16

361.00

4,000.00

OLUWAKAYODE FRANCIS OYAGBILE

PTA

10-Oct-16

361.00

4,000.00

JAMES ANENIH

PTA

10-Oct-16

361.00

4,000.00

OLUWAKAYODE FRANCIS OYAGBILE

PTA

10-Oct-16

375.00

4,000.00

DR-MRS ODEJAYI

PTA

10-Oct-16

375.00

4,000.00

ADEKUNLE ADEOLA ADEDEJI

PTA

10-Oct-16

375.00

4,000.00

ANTHONY OLUGBENGA OLALEYE

PTA

10-Oct-16

375.00

4,000.00

OPIEPE AUGUSTINE

PTA

10-Oct-16

375.00

800.00

OLAJIDE MARTINS ODUEKUN

PTA

10-Oct-16

361.00

4,000.00

HELEN ODUEKUN

PTA

10-Oct-16

361.00

4,000.00

ADEMOLA RASAQ SANNI

PTA

10-Oct-16

361.00

1,700.00

MORDI MARIA

SCHOOL FEES

10-Oct-16

361.00

3,000.00

EBINYUN SUNDAY YOUNG DEDE

SCHOOL FEES

10-Oct-16

361.00

7,000.00

OLUFUNMILAYO RUNSEWE

SCHOOL FEES

10-Oct-16

361.00

2,631.00

TOBECHUKWU IJEI

SCHOOL FEES

10-Oct-16

361.00

1,587.93

ADEBOWALE O. ADESANYA

SCHOOL FEES

10-Oct-16

361.00

3,999.99

GBEMISOLA JUMOKE ADEGBULUGBE

SCHOOL FEES

10-Oct-16

361.00

1,600.00

CHINWE PHYLLIS UZOHO

SCHOOL FEES

10-Oct-16

361.00

3,900.00

AIRTEL NETWORKS LIMITED

INVISIBLES

10-Oct-16

314.60

32.00

CREDIT CARD

10-Oct-16

375.00

41.34

100 UCHE OGBONNAYA 101 IMMAN OLUBUKOLA

CREDIT CARD

10-Oct-16

375.00

5,950.94

102 OLUBUKOLA SAMUEL

CREDIT CARD

10-Oct-16

375.00

7,499.51

103 ELIZABETH OLUBUKOLA

CREDIT CARD

10-Oct-16

375.00

4,193.42

104 REBECCA ADEWUMI

CREDIT CARD

10-Oct-16

375.00

4,185.29

105 OLUKAYODE SAMSON

CREDIT CARD

10-Oct-16

375.00

4,184.42

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Access Bank Plc RC125384

RETURNS ON SOURCES AND UTILIZATIONOF FUNDS FOR THE WEEK ENDED OCTOBER 14TH, 2016

BANK: ACCESS BANK PLC DATE OF RETURNS: 17/10/16 UTILIZATION OF FUNDS

UTILIZATION OF FUNDS

CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE AMOUNT RATE

CUSTOMER

106

DEBORAH OLUBUKOLA

CREDIT CARD

10-Oct-16

375.00

4,159.10

211 OLUWATOLA AWOSIKA

PTA

12-Oct-16

375.00

3,000.00

107

ADEWUMI OLUNIYI

CREDIT CARD

10-Oct-16

375.00

4,149.44

212 ORDOR TAMUNOIGBELEMA DARLINGTON

SCHOOL FEES

12-Oct-16

375.00

1,900.01

108

JOSEPH OLUBUKOLA

CREDIT CARD

10-Oct-16

375.00

4,136.51

213 AWONIYI OMOYEMI SILEOLA

SCHOOL FEES

12-Oct-16

375.00

4,000.01

109

BILAL SAMI SHAHIMI

CREDIT CARD

10-Oct-16

375.00

8,096.13

214 OKONKWO NKIRUKA E.

SCHOOL FEES

12-Oct-16

375.00

2,113.01

110

OHIOSIMUAN OHIWEREI

CREDIT CARD

10-Oct-16

375.00

1,567.16

215 OSINEYE PAUL OLUSEGUN

SCHOOL FEES

12-Oct-16

375.00

1,300.00

111

ADEWUNMI JOSEPH ADEYEMI-BERO

CREDIT CARD

10-Oct-16

375.00

6,007.40

216 ONYBUCHI STANLEY OKOLI

SCHOOL FEES

12-Oct-16

375.00

886.44

112

OLUGBENGA ASHAFA

CREDIT CARD

10-Oct-16

375.00

5,744.74

113

NITIN SENAN

CREDIT CARD

10-Oct-16

375.00

890.24

217 OLLA SYSTEMS LIMITED

ITEM OF IMPORT

INVISIBLES

DATE OF FUND PURCHASE

12-Oct-16

EXCHANGE AMOUNT RATE

375.00

59,000.00

218 OLLA SYSTEMS LIMITED

INVISIBLES

12-Oct-16

375.00

120,160.76

219 BOLAJI O AGBEDE

MORTGAGE

12-Oct-16

375.00

1,644.62

114

STEPHAKINS COSTREND

CREDIT CARD

10-Oct-16

375.00

4,314.75

115

NNAMDI LAWRENCE ONWURAH

CREDIT CARD

10-Oct-16

375.00

2,127.89

116

ADAMS A OSHIOMHOLE

CREDIT CARD

10-Oct-16

375.00

3,920.12

117

SUSAN ISOKEN ITEMUAGBOR

CREDIT CARD

10-Oct-16

375.00

2,895.95

118

OHIOSIMUAN OHIWEREI

CREDIT CARD

10-Oct-16

375.00

433.49

119

PRICILLA ASIEDU SARPONG

CREDIT CARD

10-Oct-16

375.00

2,737.26

120

ADAMS A OSHIOMHOLE

CREDIT CARD

10-Oct-16

375.00

2,562.89

121

ITEMUAGBOR ADOGA MIKE

CREDIT CARD

10-Oct-16

375.00

2,061.46

122

OLUWATOLA AWOSIKA

CREDIT CARD

10-Oct-16

375.00

1,416.09

123

SALIM HANEIN

CREDIT CARD

10-Oct-16

375.00

975.76

124

ADEMOLA OLANREWAJU ADEYEMI

CREDIT CARD

10-Oct-16

375.00

842.09

125

ITEMUAGBOR MARTINS ESHIOGWE OSAZE (BUNDLE)

CREDIT CARD

10-Oct-16

375.00

688.07

126

MOJISOLA RUTH ADEOLA

CREDIT CARD

10-Oct-16

375.00

624.46

232 AYODELE AGBEDE

CREDIT CARD

11-Oct-16

375.00

5,876.78

127

NWOGU IHEANYI RICHTER

CREDIT CARD

10-Oct-16

375.00

583.98

233 PATRICK OLAGHERE

CREDIT CARD

11-Oct-16

375.00

2,262.40

128

SUNDAY ABERE

CREDIT CARD

10-Oct-16

375.00

389.36

129

SAMUEL CHUKWUGOZIE BELUOLISA

CREDIT CARD

10-Oct-16

375.00

51.62

235 TECHNOLOGY DISTRIBUTIONS LIMITED

COMPUTER STORAGE -CISCO & IBM.

12-Oct-16

375.00

170,245.00

130

MATHEW IDANG

CREDIT CARD

10-Oct-16

375.00

341.96

236 AYODELE OLUWABUNMI OGUNLOWO

PTA

13-Oct-16

375.00

4,000.00

131

CHUKWUNONSO ANDREW NWOSISI

CREDIT CARD

10-Oct-16

375.00

302.22

237 EZEH IKENNA ONYEBUCHI

PTA

13-Oct-16

375.00

2,000.00

132

DAVIES OKAREVU

CREDIT CARD

10-Oct-16

375.00

274.78

238 OLUFUNKE RACHEAL AJAYI

PTA

13-Oct-16

375.00

2,400.00

133

NJIE MUSTAPHA

CREDIT CARD

10-Oct-16

375.00

256.97

239 ANTHONIA EFE IDOWU-DEIFA

PTA

13-Oct-16

375.00

2,000.00

134

AKI-COBHAM JACQUELINE EYOAWAN (BUNDLE)

CREDIT CARD

10-Oct-16

375.00

113.69

240 DE-FERD INTERNATIONAL LIMITED

PTA

13-Oct-16

375.00

2,000.00

135

NJIE FATOU

CREDIT CARD

10-Oct-16

375.00

1.92

241 ADEDAYO ABIODUN ADENIPEKUN

PTA

13-Oct-16

375.00

2,000.00

136

CHIKA KINGSLEY OHAGBA

CREDIT CARD

10-Oct-16

375.00

71.89

242 OLUYOMBO OMOTOLA AWOLESI-SOBOWAL

PTA

13-Oct-16

375.00

2,000.00

137

BOLARINWA LAMIDI

CREDIT CARD

10-Oct-16

375.00

61.34

243 OMOTOLA AKINOLA SOYOMBO

PTA

13-Oct-16

375.00

4,000.00

138

ADOKIYE IBIERELE IKPOKI

CREDIT CARD

10-Oct-16

375.00

59.22

244 AYOADE OLATUNJI OYATOKUN

PTA

13-Oct-16

375.00

3,600.00

139

TIWALOLA FRANK

CREDIT CARD

10-Oct-16

375.00

26.80

140

NJIE OUMIE

CREDIT CARD

10-Oct-16

375.00

1.92

141

NGOCHINDO ABBEY

CREDIT CARD

10-Oct-16

375.00

0.61

142

AMURE FELICITY

CREDIT CARD

10-Oct-16

375.00

0.03

143

IFESINACHI NWUDE

CREDIT CARD

10-Oct-16

375.00

0.06

144

CHIOMA ANYANWU

CREDIT CARD

10-Oct-16

375.00

0.05

145

OLAJUMOKE OLUWAKEMI AJAYI

CREDIT CARD

10-Oct-16

375.00

135.01

146

ADENIKE OMOTAYO

CREDIT CARD

10-Oct-16

375.00

37.31

147

ADENIKE OMOTAYO

CREDIT CARD

10-Oct-16

375.00

91.18

148

SHOLA OSAKWE

CREDIT CARD

10-Oct-16

375.00

844.65

149

IYABO SOJI-OKUSANYA

CREDIT CARD

10-Oct-16

375.00

300.00

150

ACCESS BANK

DEBIT CARD OBLIGATION

10-Oct-16

361.00

1,162,718.57

151

ACCESS BANK

DEBIT CARD OBLIGATION

10-Oct-16

361.00

109,953.60

258 ABIOLA EBUNOLUWA POPOOLA

SCHOOL FEES

13-Oct-16

375.00

2,824.01

152

CORMART NIGERIA LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

968.41

259 MR & MRS OPEOLUWA-CALEBS

SCHOOL FEES

13-Oct-16

375.00

6,542.82

153

VITAL PRODUCTS SUSPENSE ACCOUNT

OFFSHORE CHARGES

11-Oct-16

361.00

21,827.81

260 AWONIYI OMOYEMI SILEOLA

SCHOOL FEES

13-Oct-16

375.00

3,706.12

154

SOMOTEX NIG. LTD.

OFFSHORE CHARGES

11-Oct-16

361.00

1,000.00

261 ADENEYE OLUSEGUN ABIODUN

SCHOOL FEES

13-Oct-16

375.00

4,000.00

155

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

11-Oct-16

361.00

393.00

262 MOHAMMED BABA YAHAYA

SCHOOL FEES

13-Oct-16

375.00

3,500.00

156

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

11-Oct-16

361.00

380.00

263 SAMSON VOKE OMOWHARA

SCHOOL FEES

13-Oct-16

375.00

2,060.00

157

PZ CUSSIONS NIG. PLC

OFFSHORE CHARGES

11-Oct-16

361.00

465.32

264 MOMOH FATI

SCHOOL FEES

13-Oct-16

375.00

3,102.31

158

GMT NIGERIA LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

141.57

265 HAPPY OMOAGBA UDUEHI

SCHOOL FEES

13-Oct-16

375.00

2,556.00

159

NUTRICIMA LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

1,259.05

266 OANDO PLC

PETROLEUM PRODUCTS

13-Oct-16

315.50

102,000.00

160

DANGOTE CEMENT PLC

OFFSHORE CHARGES

11-Oct-16

361.00

4,061.58

267 ADEBAYO OLUROTIMI ADESINA

CREDIT CARD

13-Oct-16

375.00

630.00

161

NAGODE INDUSTIRES LTD - ABA BRANCH

OFFSHORE CHARGES

11-Oct-16

361.00

3,174.63

268 LUBRIK CONSTRUCTION COMPANY LTD

BTA

13-Oct-16

375.00

4,000.00

162

ROANDO PLC

OFFSHORE CHARGES

11-Oct-16

361.00

30,187.25

269 NEW HALL LEKKI INTERNATIONAL SCHOOL LT

BTA

13-Oct-16

375.00

2,000.00

163

BEL PAPYRUS LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

690.67

164

BEL PAPYRUS LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

954.72

220 YESIDE OGUNREMI

CREDIT CARD

11-Oct-16

375.00

1,768.38

221 AYODELE AGBEDE

CREDIT CARD

11-Oct-16

375.00

2,000.00

222 PATRICK OLAGHERE

CREDIT CARD

11-Oct-16

375.00

4,000.00

223 SOJI OKUSANYA

CREDIT CARD

11-Oct-16

375.00

3,430.92

224 SOJI OKUSANYA ANJOLAOLUWA INIOLUWA

CREDIT CARD

11-Oct-16

375.00

306.24

225 SOJI OKUSANYA OLUWATOFARATI MOFOPEFOLUWA

CREDIT CARD

11-Oct-16

375.00

112.15

226 RITA CHINYERE CHIEMENEM

CREDIT CARD

11-Oct-16

375.00

685.41

227 EMENENA JOY VIODAFE

CREDIT CARD

11-Oct-16

375.00

155.91

228 ODUNAYO FAKOREDE

CREDIT CARD

11-Oct-16

375.00

9,117.22

229 MOTUNRAYO FAKOREDE

CREDIT CARD

11-Oct-16

375.00

7,513.60

230 OLUWAGBEMINIYI FAKOREDE

CREDIT CARD

11-Oct-16

375.00

9,197.28

231 MICHAEL W. NDIOMU

CREDIT CARD

11-Oct-16

375.00

18,500.00

234 OLAJINI OLAGHERE

CREDIT CARD

11-Oct-16

375.00

2,849.00

245 KOLAWOLE BALOGUN

PTA

13-Oct-16

375.00

4,000.00

246 ALAKIJA ADEBUSOLA OLUKEMI

PTA

13-Oct-16

375.00

2,000.00

247 AL ADEM ELIE

PTA

13-Oct-16

375.00

4,000.00

248 OLAITAN TOLULOPE ADEDEJI

PTA

13-Oct-16

375.00

2,000.00

249 ADEBANJO HANNIFAH OLUWAYEMISI

PTA

13-Oct-16

375.00

2,000.00

250 AFEEZ OLANREWAJU JIMOH

PTA

13-Oct-16

375.00

2,000.00

251 PAULINE EGBE OMOSIVIE

PTA

13-Oct-16

375.00

2,000.00

252 OPIEPE AUGUSTINE

PTA

13-Oct-16

375.00

595.00

253 CYNTHIA ODUFA MUSAH

PTA

13-Oct-16

375.00

3,500.00

254 AKINBIYI OLOKO

SCHOOL FEES

13-Oct-16

375.00

3,500.00

255 CHINWE PHYLLIS UZOHO

SCHOOL FEES

13-Oct-16

375.00

4,870.45

256 MADISON JAY LIMITED

SCHOOL FEES

13-Oct-16

375.00

4,000.00

257 OSINEYE PAUL OLUSEGUN

SCHOOL FEES

13-Oct-16

375.00

4,000.00

270 POPEOLUWA OLADIPUPO PITAN

COURSE FEE

13-Oct-16

375.00

1,000.00

271 NIRDESH MALIK

PERSONAL HOME REMITTANCE

13-Oct-16

375.00

5,000.00

272 DARREN STONE

PERSONAL HOME REMITTANCE

13-Oct-16

375.00

5,000.00

165

SOLPIA NIGERIA LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

223.60

166

SOLPIA NIGERIA LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

224.34

167

SOLPIA NIGERIA LIMITED

OFFSHORE CHARGES

11-Oct-16

361.00

224.34

168

OLUKEMI & KOLADE YAHAYA

SCHOOL FEES

11-Oct-16

345.85

3,000.00

169

MOMAR46-I MORDI MARIA

SCHOOL FEES

11-Oct-16

345.85

4,748.11

170

EBINYUN SUNDAY YOUNG DEDE

SCHOOL FEES

11-Oct-16

345.85

8,000.00

171

ADEBOWALE O. ADESANYA

SCHOOL FEES

11-Oct-16

345.85

2,946.62

172

CHINWE PHYLLIS UZOHO

SCHOOL FEES

11-Oct-16

345.85

4,000.00

173

SEGUN OLATUNBOSUN EMOLA

SCHOOL FEES

11-Oct-16

345.85

1,000.00

174

CHRISTOPHER O AMEDU

SCHOOL FEES

11-Oct-16

345.85

2,150.00

175

OOLUSEYI OLUFEMI OGUNORUNYINKA

SCHOOL FEES

11-Oct-16

375.00

27,656.50

176

MADISON JAY LIMITED

SCHOOL FEES

11-Oct-16

345.85

4,000.00

177

CASH BRIDGE ENERGY SERVICES LTD

SCHOOL FEES

11-Oct-16

345.85

2,300.00

285 TIJJANI AHMAD ALIYU

CREDIT CARD

12-Oct-16

375.00

2,500.00

178

ORIAJE AREMU

SCHOOL FEES

11-Oct-16

345.85

3,257.86

286 RAMATU JUMMAI ALIYU

CREDIT CARD

12-Oct-16

375.00

2,500.00

179

CHUKWUEMEKA UKWA

SCHOOL FEES

11-Oct-16

345.85

1,790.00

180

OGBE ENE C.

SCHOOL FEES

11-Oct-16

345.85

4,517.10

288 OVIOSU BENJAMIN

SCHOOL FEES

14-Oct-16

375.00

924.00

181

OSINEYE PAUL OLUSEGUN

SCHOOL FEES

11-Oct-16

345.85

4,000.00

289 IFEYINWA N NWOKIKE

SCHOOL FEES

14-Oct-16

375.00

2,860.87

182

ABIOLA EBUNOLUWA POPOOLA

SCHOOL FEES

11-Oct-16

345.85

4,000.00

290 OSINEYE PAUL OLUSEGUN

SCHOOL FEES

14-Oct-16

375.00

4,000.00

183

CHIDIMMA MARIA-GORETTI DUREKE

SCHOOL FEES

11-Oct-16

361.00

2,500.00

291 UDORA VINCENT

SCHOOL FEES

14-Oct-16

375.00

2,650.00

184

MR & MRS OPEOLUWA-CALEBS

SCHOOL FEES

11-Oct-16

345.85

5,290.00

292 ABIODUN A. ABIODUN

SCHOOL FEES

14-Oct-16

375.00

4,000.00

185

MOSUNMOLA T OLUSOGA

PTA

11-Oct-16

345.85

4,000.00

293 MOMOH FATI

SCHOOL FEES

14-Oct-16

375.00

4,000.00

186

ANTHONY OLUGBENGA OLALEYE

PTA

11-Oct-16

375.00

4,000.00

294 DIBIE NNAMAKA GILBERT

SCHOOL FEES

14-Oct-16

375.00

3,396.00

187

OSSA ANDREW UCHENDU

PTA

11-Oct-16

345.85

4,000.00

295 PATIENCE EDWIN OCHAI

SCHOOL FEES

14-Oct-16

375.00

4,000.00

188

KAFAYAT AGBEKE ADENIYI

PTA

11-Oct-16

361.00

2,812.62

296 OGUEGBU EMEKA UDOCHUKWU

SCHOOL FEES

14-Oct-16

375.00

1,100.00

189

KAFAYAT AGBEKE ADENIYI

PTA

11-Oct-16

375.00

1,187.38

297 MUSA ZAKARI

SCHOOL FEES

14-Oct-16

375.00

2,182.00

190

OPE WEMI-JONES

PTA

11-Oct-16

345.85

4,000.00

191

OLUWATOLA AWOSIKA

PTA

11-Oct-16

375.00

4,000.00

192

LOOKMAN GBOLAHAN MARTINS

PTA

11-Oct-16

361.00

4,000.00

193

BUSOLA OSILAJA

PTA

11-Oct-16

345.85

4,000.00

194

ESEOSA VALENTINA ASEMOTA

PTA

11-Oct-16

345.85

4,000.00

195

OPEYEMI JOSEPH

PTA

11-Oct-16

375.00

1,000.00

196

M.R.S. OIL AND GAS COMPANY LIMITED

PETROLEUM PRODUCT

12-Oct-16

304.75

263,540.96

197

M.R.S. OIL AND GAS COMPANY LIMITED

PETROLEUM PRODUCT

12-Oct-16

304.75

8,455,000.00

198

M.R.S. OIL AND GAS COMPANY LIMITED

PETROLEUM PRODUCT

12-Oct-16

304.75

6,406,959.04

199

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

25,057.55

200

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

21,685.09

201

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

22,852.80

202

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

9,976.63

311 IWEKA FRANCIS UWAKWE

PTA

14-Oct-16

375.00

2,000.00

203

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

750.00

312 UDOM CAROLINE NKECHI .

PTA

14-Oct-16

375.00

2,000.00

204

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

1,500.00

313 PAUL EMOJIGHO AKPOKODJE

PTA

14-Oct-16

375.00

2,000.00

205

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

15,000.00

314 AKINTOLA OLUWASEYIFU ABIMBOLA

PTA

14-Oct-16

375.00

2,500.00

206

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

145,227.99

315 CYNTHIA ODUFA MUSAH

PTA

14-Oct-16

375.00

4,000.00

207

ACCESS BANK PLC

SUBSCRIPTION

12-Oct-16

375.00

5,000.00

316 OYEDOLAPO ABIODUN OYELADE

PTA

14-Oct-16

375.00

4,000.00

208

ADANMA OBIANUJU ANASIUDU

PTA

12-Oct-16

375.00

4,000.00

317 IDOWU OLAWUNMI ASHAGIDIGBI

PTA

14-Oct-16

375.00

4,000.00

209

KOLAWOLE BALOGUN

PTA

12-Oct-16

375.00

4,000.00

318 RANONA LIMITED

PTA

14-Oct-16

375.00

2,000.00

210

AMBER-GEMS LIMITED

PTA

12-Oct-16

375.00

4,000.00

319 RANONA LIMITED

PTA

14-Oct-16

375.00

2,000.00

273 MENGYO ZHAN

PERSONAL HOME REMITTANCE

13-Oct-16

375.00

3,488.00

274 BIPUL DEKA

PERSONAL HOME REMITTANCE

13-Oct-16

375.00

4,500.00

275 SANDEEP SHASHIDHAR PHANASGAONKAR

PERSONAL HOME REMITTANCE

13-Oct-16

375.00

1,448.55

276 OLUWATOLA AWOSIKA

PTA

13-Oct-16

375.00

1,000.00

277 CHARLES B NDIOMU

CREDIT CARD

12-Oct-16

375.00

988.00

278 OLATUNJI BANKOLE

CREDIT CARD

12-Oct-16

375.00

645.00

279 UCHE OGBONNAYA

CREDIT CARD

12-Oct-16

375.00

824.06

280 NWOGU IHEANYI RICHTER

CREDIT CARD

12-Oct-16

375.00

1,000.00

281 JOHN IYAJI

CREDIT CARD

12-Oct-16

375.00

3,250.00

282 YESIDE OGUNREMI

CREDIT CARD

12-Oct-16

375.00

215.78

283 TEMILOLUWA OGBONNEWO

CREDIT CARD

12-Oct-16

375.00

1,256.00

284 SEGUN OGBONNEWO

CREDIT CARD

12-Oct-16

375.00

1,000.00

287 OVIOSU BENJAMIN

SCHOOL FEES

14-Oct-16

375.00

1,500.00

298 OZEINED MIKE

SCHOOL FEES

14-Oct-16

375.00

4,000.00

299 VALENTINE EHIZOGIE ARO

SCHOOL FEES

14-Oct-16

375.00

4,000.00

300 OYESESAN ADESHINA OYEGBOLA

SCHOOL FEES

14-Oct-16

375.00

1,200.00

301 ADENEYE OLUSEGUN ABIODUN

SCHOOL FEES

14-Oct-16

375.00

4,000.00

302 HENRY OMORUYI UDOGIE

SCHOOL FEES

14-Oct-16

375.00

598.28

303 HENRY OMORUYI UDOGIE

SCHOOL FEES

14-Oct-16

375.00

598.28

304 MIKE CHIDOZIE MIKE ESOTU

SCHOOL FEES

14-Oct-16

375.00

2,700.00

305 AMINAH OLORUNTOSIN ADEDIPE

CREDIT CARD

14-Oct-16

375.00

1,585.17

306 CYNTHIA ODUFA MUSAH

PTA

14-Oct-16

375.00

500.00

307 INAINGO OMASAN OGUFERE

PTA

14-Oct-16

375.00

4,000.00

308 LOOKMAN GBOLAHAN MARTINS

PTA

14-Oct-16

375.00

4,000.00

309 IDOWU O AKINDE

PTA

14-Oct-16

375.00

2,000.00

310 AJARA BENNY OROBOGHA

PTA

14-Oct-16

375.00

2,000.00

NEWS

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Buhari to Aisha: Stay out of politics

Anule Emmanuel Abuja

resident Muhammadu Buhari has told his wife, Aisha, to stay out of

politics. He reiterated his earlier comments that his wife belongs to his kitchen and room. The president’s remark is coming despite criticisms from international and local commentators who perceive his comments as disrespectful towards women. Mrs. Buhari, in a BBC interview last week, said her husband does not know most of the top officials he has appointed. According to her, those who worked for the president have been abandoned for those who don’t even have voters’ cards. The president’s wife expressed fear of rebellion from the over 15 million people who voted her husband in the 2015 election. But the president, in a joint press conference with the German Chancellor, Angela Merkel, in Berlin, said Aisha was not as informed as he was about politics in the country and must remain at the home front. Reacting to his wife’s salient queries about his leadership style, the president, who was on a state visit to Germany, laughed it off and said: “I don’t know which party my wife be-

longs to, but she belongs to my kitchen and living room and the other room.” Again, in a different interview at the weekend with a German Radio, Deutsche Welle, Buhari reiterated his stand that his wife is meant to be in the kitchen and other parts of the house to take care of him. The president told a German broadcaster that his wife’s function was solely to look after him and the house. He added that he wanted his wife to stay out of politics completely.

The German Radio had asked the president to clarify his earlier statement, which has been generating heated debate across the media in the country. Many Nigerians have criticised the president for reducing his wife to kitchen and bedroom roles. Buhari told his interviewer that: “I am sure you have a house…. You know where your kitchen is, you know where your living room is and I believe your wife looks after all of that, even if she is working.” When the president was pressed further about his

wife’s role, he said: “Yes, to look after me.” And when asked if Aisha should stay out of politics, he said: “I think so.” Baring his mind about the gender equality bill, which failed passage at the National Assembly, the president said anytime the bill is passed by the National Assembly, it will be considered for passage by the Presidency within the framework of what is acceptable by Nigeria’s cultural peculiarities. Meanwhile, Governor Rochas Okorocha of Imo State has urged President

Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, with the certificate of attendance presented to him by the Sector Commander of the United States Coast Guard, Long Island, Connecticut, USA, Captain Andrew Tucci...recently.

Kalu: EFCC wants to convict me at all cost CONTINUED FROM PAGE 1

Ibrahim Magu, noted that the Commission, without his knowledge or that of his counsel, requested for the transfer of the case to Lagos. The copies of the letter were sent to the Attorney General of the Federation and Hon. Chief Judge, Federal High Court. “There is no justification legally, morally or otherwise for the said transfer if not to secure conviction at all cost and put him into avoidable expenses of moving his defence team to Lagos whenever the case comes up. “It is also worthy to note that before the said transfer, politicians in Abia State and its environs had predicted at various fora that this matter will be transferred to Lagos where conviction will be secured at all cost,” the former governor stated. He further noted that the case had resumed before Justice Anuli Chikere of the Abuja Division of the Federal High Court where plea had been taken at the last adjourned date and definite hearing fixed for December 6, 7 and 8.

The letter reads in part: “Our clients, alongside others, were arraigned before a Federal High Court, Abuja, in 2007. Following rulings, which did not go down well with our client, he appealed alongside others up to the Supreme Court via Court of Appeal. The matter was remitted back to the Federal High Court in 2016 by the Supreme Court for trial. The matter was assigned by the Chief Judge of the Federal High Court to Justice Anuli Chikere. At the last adjourned date, plea was taken and matter adjourned to the 6, 7 and 8 of December 2016 for definite hearing. “Both parties departed the court with a view to come back and commence trial on the agreed dates. Surprisingly and behind the back of our client and his defence team, your Commission applied to the Hon. Chief Judge of the Federal High Court for the case to be transferred to Lagos Judicial Division of the Federal High Court.” Kalu further noted that the Commission never raised the issue of transfer when the case was re-

mitted to the Federal High Court for trial. According to him, “it is evidently clear that your Commission went into deep slumber and suddenly woke up to shop for forum convenience. What must have justified this sudden transfer is not far-fetched. Your Commission went for a shopping bonanza and arrived at the residence of ‘forum convenience,’ hence this request for the transfer to Lagos. “To secure conviction at all cost is inimical to our criminal jurisprudence and must not be encouraged. For good nine years, it never dawned on your Commission to seek for a transfer until dates have been given by the trial court for definite hearing. To seek for transfer in a matter when both parties have agreed to dates for definite hearing is nothing short of undue interference in the administration of justice. “The greatest human instinct is self-preservation hence this protest on behalf of our client and the defence team over this transfer. In the defence team of our client are five

Senior Advocates of Nigeria namely: Awa Kalu (SAN), Chief Mike Ozekhome (SAN), Solomon Akuma (SAN), Nwufo (SAN), Chief Gordi Uche (SAN) and my humble self. All of us are resident here in Abuja. “Our client, who after eight years as Executive Governor of Abia State retired into private quiet life in his village Igbere, in Abia State, was forced to relocate to Abuja for this trial. Suddenly, the trial is now being transferred to Lagos. One may ask for what purpose? The answer is simple: to secure conviction at all cost." He, however, requested that the matter be returned to Abuja Judicial Division of the Federal High Court before the judge who has given definite dates for hearing. Kalu added that if such is acceptable, then another judge in the Abuja division of the court should be assigned to hear the matter. In the alternative, he requested that the matter be transferred to Umuahia where the cause of action arose. Full letter on page 10

Buhari to yield to the calls of many Nigerians and his wife, Aisha, for a rejig of the federal cabinet. Mrs. Buhari in an interview with the BBC, last week, warned that she will not support the re-election of her husband in 2019 if the president failed to effect major changes in his cabinet. Speaking to State House correspondents yesterday in Abuja, the Imo State governor explained that there was nothing wrong for the president to consider the many voices of Nigerians who feel he needs to effect changes in the cabinet. Okorocha was among the president’s delegation to Germany for talks with the German Chancellor, Angela Merkel. Okorocha said: “Quite frankly, I am a governor and I know where the shoe pinches most. It is like somebody in the game and those who are outside seem to see more. So, it’s natural. “If there is a clarion call to say ‘Mr. President, look into your cabinet and bring in more people,’ there is nothing wrong for the president to take note of the comments from Nigerians because if everyone keeps saying the same thing there must be sense in what they are saying.” Okorocha, who is also the chairman of Progressives Governors’ Forum (PGF), told reporters that most people within the All Progressives Congress (APC) were not comfortable with the present arrangement regarding appointment into key positions at the federal level. The governor noted: “Most people in the party feel they are not carried along. So many people in the party who worked for

the party are complaining everyday they want appointment of boards released. “The people in the South-East are saying that they have not been appointed, some people from the North-East are saying they have not been appointed, even some people in the North-West where the president comes from. Some people at local governments and villages are saying they have not been remembered so at what point do we redraw this line. But there is always room for amendment.” The governor stated that the reaction of the president to his wife’s interview was a joke. He said Nigeria was passing through trying times and needed the cooperation of citizens for positive changes to be made and not the kind of distraction coming from reactions on both the interview and the president’s response. “Both the president’s wife and the president’s interviews were taken out of context,” Okorocha added. On the content of the president’s wife BBC interview and the subsequent reply by Buhari, he said Aisha did not grant the interview to bring down her husband as being insinuated in some quarters. He equally maintained that the president’s reaction to the interview was just on a lighter mood, saying that Buhari was only cracking jokes. Okorocha, who narrated how his wife once joined some commissioners and workers in Imo to condemn certain official decision he took, said Aisha’s comments were not meant to disrespect the president or the APC.

Customs dismisses 17 officers for drug addiction, certificate forgery, theft Abdulwahab Isa Abuja

he Nigeria Customs Service (NCS) has dismissed 17 junior officers for drug addiction, certificate forgery, theft and absenteeism. The dismissal of the officers by the Service was in line with the recommendation by a disciplinary committee that investigated their offences. The offences were committed between January and September 2016. Customs spokesperson, Wale Adeniyi, confirmed the dismissal yesterday in a statement. Adeniyi was, however, silent on their identities. He said that two other officers also had their appointments terminated for

illegally absenting themselves from duty, while one officer was retired for drug addiction. “Investigations into offences committed by the officers in the senior category are now being concluded. Officers found guilty are expected to face similar stiff penalties. “These disciplinary measures were taken after series of investigations and deliberations by the disciplinary committee and recommendations were made to the management. This process is a continuation of the reform agenda the ComptrollerGeneral of Customs, Col. Hameed Ibrahim Ali (Rtd), promised upon his assumption of office, which emphasised discipline, good conduct and transparency.”

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

VISTA INTERNATIONAL LTD

RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS: 500 MT OF PAPER BOARD IN SHEETS 300-400 GSM

10/10/2016

306.00

16,285.57

CBN

IMTSO TO CBN

13/10/2016

370.00

1,438.91

VISTA INTERNATIONAL LTD

200MT OF RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS (PLAIN PAPER 300 GSM)

10/10/2016

306.00

40,714.43

CBN

IMTSO TO CBN

13/10/2016

370.00

7,444.78

VISTA INTERNATIONAL LTD

200MT OF RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS (PLAIN PAPER 300 GSM)

10/10/2016

306.00

3,000.00

CBN

IMTSO TO CBN

13/10/2016

370.00

11,135.47

MIDDLE POINT NIG LTD

STOP OIL TREATMENT

10/10/2016

326.00

241,258.08

ADE-ODIACHI MIMI

PTA

13/10/2016

325.00

4,000.00

MIDDLE POINT NIG LTD

STOP OIL TREATMENT

10/10/2016

326.00

60,314.52

CAPT MICHAEL WILLIAMS-HART

PTA

13/10/2016

325.00

2,000.00

MIDDLE POINT NIG LTD

CPCD250EC8-VO EMPTY CONTAINER STACKER

10/10/2016

326.00

3,117.87

MBUK MAYEN IYANYA

PTA

13/10/2016

325.00

2,000.00

ADEOLA VICTOR OLUMIDE

PAYMENT OF SCHOLL FEES

10/10/2016

375.00

7,121.19

IBHADE OJOMON

PTA

13/10/2016

325.00

4,000.00

IHENTUGE CHURCHILL JONADAB

PAYMENT OF SCHOOL FEES

10/10/2016

375.00

4,899.86

IBHADE STELLA

PTA

13/10/2016

325.00

4,000.00

TESHOMA AMELIA ONWUKA

PAYMENT OF SCHOOL FEES

10/10/2016

330.00

2,000.00

ADEGOKE BABATUNDE

PTA

13/10/2016

325.00

4,000.00

IHENTUGE CHURCHILL JONADAB

PAYMENT OF SCHOOL FEES

10/10/2016

375.00

1,176.85

IGBOANUZUE SUNDAY

PTA

13/10/2016

375.00

2,000.00

ADEOLA VICTOR OLUMIDE

PAYMENT OF SCHOLL FEES

10/10/2016

375.00

644.05

IGBOANUZUE OKEOMA

PTA

13/10/2016

375.00

2,000.00

HR BDC

FX BDC

10/10/2016

375.00

3,499.86

OLABISI EBENEZER

PTA

13/10/2016

325.00

4,000.00

HR BDC

FX BDC

10/10/2016

375.00

8,458.87

100

IJIOMA CATHERINE

PTA

13/10/2016

325.00

2,000.00

HR BDC

FX BDC

10/10/2016

375.00

15,378.50

101

LAWAL OLUWASEUN

PTA

13/10/2016

325.00

4,000.00

KAYLAN BDC

FX BDC

10/10/2016

375.00

5,725.33

102

OGUNDEJI SUNKANMI

PTA

13/10/2016

325.00

2,000.00

PA BELL BDC

BDC SALE

10/10/2016

375.00

21,363.57

103

OGUNDEJIABIODUN

PTA

13/10/2016

325.00

2,000.00

PA BELL BDC

BDC SALE

10/10/2016

375.00

5,973.66

104

TADECO INDUSTRIES LTD

PLAIN PAPER IN SHEET

14/10/2016

325.00

60,000.00

MIKE-ENEH CHIDI I

PTA

10/10/2016

330.00

2,000.00

105

ODEDE STEPHEN EBIMENE(GBP5,027.00)

PAYMENT OF SCHOOL FEES

14/10/2016

369.78

6,185.49

AFONJA BIYI

PTA

10/10/2016

330.00

2,000.00

106

UNION BANK OF NIG.PLC

CONFERENCE FEE

14/10/2016

335.00

2,995.00

GUPTA VINEET

PTA

10/10/2016

330.00

2,000.00

107

SUNDAY AJIBOLA ASIPA

PAYMENT OF SCHOOL FEES

14/10/2016

375.00

1,990.32

IGBOANUZUE SUNDAY

PTA

10/10/2016

330.00

2,000.00

108

SUNDAY AJIBOLA ASIPA

PAYMENT OF SCHOOL FEES

14/10/2016

375.00

1,883.18

IGBOANUZUE OKEOMA

PTA

10/10/2016

330.00

2,000.00

109

NWAKOBY CHARLESWESTERN UNION

PAYMENT OF SCHOOL FEES

14/10/2016

375.00

1,711.82

ADEOSUN OLUFISAYO

PTA

10/10/2016

330.00

2,000.00

110

NWAKOBY CHARLESFROM MONEYGRAM

PAYMENT OF SCHOOL FEES

14/10/2016

375.00

481.59

ADEOSUN MATILDA

PTA

10/10/2016

330.00

2,000.00

111

NWAKOBY CHARLES FROM RIA

PAYMENT OF SCHOOL FEES

14/10/2016

375.00

479.64

LAWAL CHRISTIANA

PTA

10/10/2016

330.00

4,000.00

112

NWAKOBY CHARLESRIA

PAYMENT OF SCHOOL FEES

14/10/2016

375.00

364.10

KUMAR SHAILESH

PTA

10/10/2016

330.00

4,000.00

113

CBN

CBN SALE

14/10/2016

370.00

5,649.55

OZUBELE OLUWATOYIN

PTA

10/10/2016

330.00

4,000.00

114

CBN

CBN SALE

14/10/2016

370.00

5,970.95

OZUBELE N.O THELMA

PTA

10/10/2016

330.00

4,000.00

115

CBN

CBN SALE

14/10/2016

370.00

1,092.30

AGUCHIBE WELUCHE (GBP 2000)

PTA

10/10/2016

335.10

2,488.80

116

AKISANYA OLUSOLA

PTA

14/10/2016

325.00

4,000.00

OBOMANU DUOPAMA (GBP 2500)

PTA

10/10/2016

335.10

3,111.00

117

OSIKOYA OLUWASAYO

PTA

14/10/2016

325.00

2,000.00

ADEOSUN OLUFISAYO

PTA

11/10/2016

330.00

2,000.00

118

LAWALFATAI OLUWASEUN

ESTA CODE

14/10/2016

335.00

1,150.00

ADEOSUN MATILDA

PTA

11/10/2016

330.00

2,000.00

119

AKINLOSOSE TEMITAYO ISRAEL

ESTACODE

14/10/2016

335.00

1,150.00

KOLAPO ADESOLA LYDIA

PTA

11/10/2016

335.00

2,000.00

120

OTARUANTHANASIUS ASHAMU

ESTACODE

14/10/2016

335.00

1,150.00

JACKSON KOFOWOROLA

PTA

11/10/2016

335.00

4,000.00

121

OTUNIYIADEBIMPE ENIOLA

ESTACODE

14/10/2016

335.00

1,150.00

OMOTORO ADIJAT

PTA

11/10/2016

335.00

4,000.00

OLABISI MORENIKE

PTA

11/10/2016

335.00

4,000.00

UPADHYA SARITA

PTA

11/10/2016

335.00

2,000.00

GUPTA SHIVANIKA

PTA

11/10/2016

335.00

2,000.00

OMIJEH UYOYO

PTA

11/10/2016

335.00

2,000.00

UZOCHUKWU KINGSLEY

PTA

11/10/2016

335.00

2,000.00

AKINLOSOSE TEMITAYO

PTA

11/10/2016

335.00

2,000.00

OTARU ANTHANASIUS

PTA

11/10/2016

335.00

2,000.00

AYORINDE ADEBIMPE

PTA

11/10/2016

335.00

2,000.00

OSIKOYA OLUWASAYO

PTA

11/10/2016

335.00

2,000.00

ORENUGA FOLATUNDE OLUSEGUN

PTA

11/10/2016

335.00

2,000.00

GARG ANKIT

PTA

11/10/2016

335.00

2,000.00

BASE FLUID EXCHANGES LTD

BASE OIL CORE 600

12/10/2016

306.25

80,000.00

VISTA INTERNATIONAL

RAW MATERIAL FOR PRODUCTION OF EXERCISE BOOKS

12/10/2016

306.00

34,050.00

MIDDLE POINT NIG LTD

STOP OIL TREATMENT

12/10/2017

326.00

900.00

OKOROAFOR CHIDI

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

7,034.61

SUNDAY AJIBOLA ASIPADE

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

6,508.45

BEKWONNAH GODWIN NNANNA

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

5,509.43

EMAJOVEX INTERNATIONAL LIMITED

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

5,293.94

OGOR GBUBEMI EMMANUEL

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

5,000.00

SUNDAY AJIBOLA ASIPADE

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

4,359.03

OLUWATOMI AKINBOBOLA (GBP4020)

ACCOMMODATION FEE

12/10/2016

359.80

4,804.24

ISHOLA STEPHEN OLUSOLA(CAD3000)

LIVING EXPENSES

12/10/2016

358.69

2,258.18

OJEDOKUN IDOWU O

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

2,819.62

OTHER SOURCES 1

10/10/2016

370.00

4,666.48

OTHER SOURCES 2

10/10/2016

370.00

11,278.49

OTHER SOURCES 3

10/10/2016

370.00

28,138.44

OTHER SOURCES 4

10/10/2016

284.50

627.00

OTHER SOURCES 5

10/10/2016

301.00

32.64

OTHER SOURCES 6

10/10/2016

320.50

22.32

OTHER SOURCES 7

10/10/2016

340.50

1,270.00

OTHER SOURCES 8

10/10/2016

282.50

620.00

OTHER SOURCES 9

10/10/2016

284.25

16.93

OTHER SOURCES 10

10/10/2016

345.55

136.88

OTHER SOURCES 11

10/10/2016

315.00

793.65

OTHER SOURCES 12

10/10/2016

330.00

273.47

OTHER SOURCES 13

11/10/2016

305.25

150,000.00

OTHER SOURCES 14

11/10/2016

305.25

50,000.00

OTHER SOURCES 15

11/10/2016

351.27

734.49

OTHER SOURCES 16

11/10/2016

330.00

950.69

OTHER SOURCES 17

12/10/2016

305.00

200,000.00

OTHER SOURCES 18

12/10/2016

370.00

3,501.31

OTHER SOURCES 19

12/10/2016

370.00

21,175.77

OTHER SOURCES 20

12/10/2016

370.00

42,037.72

OTHER SOURCES 21

12/10/2016

370.00

30,833.80

OTHER SOURCES 22

12/10/2016

370.00

17,436.11

OTHER SOURCES 23

12/10/2016

300.00

109.67

OTHER SOURCES 24

12/10/2016

330.00

1,382.20

OTHER SOURCES 25

10/13/2016

325.00

529,988.50

OTHER SOURCES 26

10/13/2016

325.00

600,000.00

OTHER SOURCES 27

13/10/2016

305.00

30,000.00

OTHER SOURCES 28

13/10/2016

305.00

10,000,000.00

OTHER SOURCES 29

13/10/2016

305.00

410,000.00

OTHER SOURCES 30

13/10/2016

305.00

10,000,000.00

AKONU TEYE AJUEBITSI

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

2,618.15

CIHENTUGE CHURCHILL JONADAB

PAYMENT OF SCHOOL FEES

12/10/2016

361.00

1,200.00

ETIM EKAN UDOUDO

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

1,200.00

AKONU TEYE AJUEBITSIM

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

1,166.62

OJEDOKUN IDOWU O

PAYMENT OF SCHOOL FEES

12/10/2016

375.00

875.33

AWELE OSADEBE

PTA

12/10/2016

335.00

2,000.00

CBN

IMTSO TO CBN

12/10/2016

370.00

2,625.98

CBN

IMTSO TO CBN

12/10/2016

370.00

15,881.83

CBN

IMTSO TO CBN

12/10/2016

370.00

31,528.29

CBN

IMTSO TO CBN

12/10/2016

370.00

23,125.35

CBN

IMTSO TO CBN

12/10/2016

370.00

13,077.08

OTHER SOURCES 31

13/10/2016

370.00

1,918.54

STALLIONAIRE NIG LTD

20,000 MT +/- 10PCT GASOIL

13/10/2016

340.50

221,408.00

OTHER SOURCES 32

13/10/2016

370.00

9,926.37

EDIC CHEMICAL AND ALLIED

800,000KGS OF ETHYL ALCOHOL

13/10/2016

306.00

80,000.00

OTHER SOURCES 33

13/10/2016

370.00

14,847.29

FMCG DISTRIBUTIONS LTD

10,860 CARTONS OF RICHMOND SQUARE TEA BAG

13/10/2016

326.00

60,000.00

OTHER SOURCES 34

13/10/2016

315.00

151,000.00

STELLAR BEVERAGS LTD

2 UNITS OF EACH SIX TRACK LIQUID POUCH PACKING MACHINE & S.S CONVEYOR

13/10/2016

326.00

71,700.00

OTHER SOURCES 35

13/10/2016

330.00

46.32

STELLAR BEVERAGS LTD

PLANT AND MACHINERY AND CHANGE PARTS

13/10/2016

326.00

136,400.00

OTHER SOURCES 36

14/10/2016

370.00

1,456.40

STELLAR BEVERAGS LTD

60,000 LITRE OF ETHANOL-FOOD GRADE

13/10/2016

326.00

50,400.00

OTHER SOURCES 37

14/10/2016

370.00

7,532.73

STELLAR BEVERAGS LTD

16,000 LITRE OF SCOTCH WHISKY FLAVOUR CONCENTRATE

13/10/2016

326.00

59,394.93

OTHER SOURCES 38

14/10/2016

370.00

7,961.27

VISTA INTERNATIONAL LIMITED

RAW MATERIAL FOR PRODUCTION OF EXER

13/10/2016

306.00

85,950.00

OTHER SOURCES 39

14/10/2016

330.00

963.12

FLOUR MILLS OF NIGERIA PLC

18,000 M/TONS OF RUSSIAN MILLING WHEAT WITH MINIMUM PROTEIN

13/10/2016

326.00

350,000.00

OTHER SOURCES 40

14/10/2016

300.00

13,890.41

LANAKA PETROLEUM

PMS

13/10/2016

306.00

10,000,000.00

OTHER SOURCES 41

14/10/2016

300.00

1,996.56

PINNACLE OIL AND GAS

PMS

13/10/2016

306.00

10,000,000.00

OTHER SOURCES 42

14/10/2016

324.76

61.76

PINNACLE OIL AND GAS

PMS

13/10/2016

306.00

410,000.00

OTHER SOURCES 43

14/10/2016

349.46

2,578.45

PINNACLE OIL AND GAS

PMS

13/10/2016

306.00

30,000.00

OTHER SOURCES 44

14/10/2016

349.46

1,334.70

AFRIVENTURES FZE

PHARMACEUTICAL FORMULATION

13/10/2016

316.00

102,573.10

OTHER SOURCES 45

14/10/2016

330.62

38,032.36

AFRIVENTURES FZE

PHARMACEUTICAL FORMULATION

13/10/2016

316.00

48,426.90

OTHER SOURCES 46

14/10/2016

199.50

3,729.41

CELPLAS INDUSTRIES NIG LTD

POLYSTRENE EXPANSIBLE GRADE THH 103

13/10/2016

306.25

70,000.00

OTHER SOURCES 47

14/10/2016

199.50

6,945.62

UNION BANK OF NIG.PLC

FUNDING OF VISACARD

13/10/2016

331.00

274.21

OTHER SOURCES 48

14/10/2016

292.00

322.68

UNION BANK OF NIG.PLC

OFFSHORE CHARGES ON VISACARD

13/10/2016

331.00

610.00

OTHER SOURCES 49

14/10/2016

307.45

592.44

Exchange Gain Difference =N= 39,795,592,083.64 20,184,856,121.39 15,561,677,997.78 3,730,159,014.85 79,272,285,217.65

Statutory

=N= 195,206,166,118.60 99,011,176,133.05 76,333,466,629.52 15,834,173,467.21 3,238,946,486.30 126,429,734,622.11 11,338,778,529.82 1,472,541,584.50 528,864,983,571.10

=N= 6,330,393,548.39 6,330,393,548.39

=N= 4,547,876,555.57 2,306,743,765.47 1,778,402,753.32 1,289,991,953.64 9,923,015,028.00

=N= 9,705,733,325.74 32,352,444,419.15 22,646,711,093.40 2,696,037,034.93 67,400,925,873.22

VAT

=N= 255,585,761,631.94 153,855,220,439.05 116,320,258,474.02 20,854,324,435.69 3,238,946,486.30 126,429,734,622.11 14,034,815,564.75 1,472,541,584.50 691,791,603,238.36

Total

FGN (CRF Account) Share of Derivation & Ecology Stabilization Development of Natural Resources FCT-Abuja Sub-total

Beneficiaries

5,087,777,340.90 25,520,008.11 5,113,297,349.01

=N=

179,717,142,307.36 1,852,754,044.41 3,705,508,088.81 6,225,253,589.20 3,705,508,088.81 195,206,166,118.60

Less Deductions

Gross Statutory Allocation

174,629,364,966.46 1,852,754,044.41 3,705,508,088.81 6,225,253,589.20 3,679,988,080.70 190,092,868,769.59

=N=

Net Statutory Allocation

4=2- 3

36,637,931,208.36 377,710,631.01 755,421,262.03 1,269,107,720.21 755,421,262.03 39,795,592,083.64

=N=

Exchange Gain Difference

5,828,095,806.70 60,083,461.92 120,166,923.85 201,880,432.07 120,166,923.85 6,330,393,548.39

4,187,016,191.06 86,330,230.74 43,165,115.37 145,034,787.65 86,330,230.74 4,547,876,555.56

9,058,684,437.36 647,048,888.38 9,705,733,325.74

=N=

NNPC Refund to FG

=N=

VAT

Distribution of =N=9.923Billion Solid Mineral Rev from 2007 2014 =N=

230,341,092,609.94 2,376,878,368.08 4,624,261,390.06 7,841,276,529.13 5,288,955,385.70 250,472,464,282.92

=N=

Total Net Amount

9=4+5+6+7+8

DISTRIBUTION OF REVENUE ALLOCATION TO FGN BY FEDERATION ACCOUNT ALLOCATION COMMITTEE FOR THE MONTH OF JUNE, 2016 SHARED IN JULY, 2016 Table II

Total

Cost of Collection - DPR

Cost of Collections - FIRS

Transfer to Excess PPT

Cost of Collection - NCS

FGN (see Table II) State (see Table III) LGCs (see Table IV) 13% Derivation Fund

Beneficiaries

Table I

Source: Office of the Accountant-General of the Federation

Kemi Adeosun Hon. Minister of Finance Federal Ministry Of Finance, Abuja. Nigeria.

...............................

The above information is also available on the Federal Ministry of Finance website www.fmf.gov.ng and Office of Accountant-General of the Federation website www.oagf.gov.ng. In addition, you would find on these websites details of the Capital and Recurrent allocations to all arms of Government including Federal Ministries and Agencies. The Budget Office website www.budgetoffice.gov.ng also contains information about the Budget.

1 2 3 4 5

S/n

1 2 3 4 5 6 7 8 9

S/n

Distribution of =N=9.923Billion Solid NNPC Refund to FG Mineral Rev from 2007 2014

SUMMARY OF GROSS REVENUE ALLOCATION BY FEDERATION ACCOUNT ALLOCATION COMMITTEE FOR THE MONTH OF JUNE, 2016 SHARED IN JULY, 2016

FEDERAL MINISTRY OF FINANCE, ABUJA

8 MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

14=6+11+12+13

Table III

14 ENUGU

15 GOMBE

16 IMO

17 JIGAWA

18 KADUNA

19 KANO

20 KATSINA

21 KEBBI

22 KOGI

23 KWARA

24 LAGOS

25 NASSARAWA

26 NIGER

27 OGUN

28 ONDO

29 OSUN

30 OYO

31 PLATEAU

32 RIVERS

33 SOKOTO

34 TARABA

35 YOBE

36 ZAMFARA

99,011,176,133.05

2,598,285,575.05

2,592,763,745.34

2,515,117,953.20

2,877,571,768.44

2,815,878,083.67

2,726,547,191.16

2,928,518,458.74

2,381,289,703.05

2,430,564,380.93

2,425,758,681.31

3,092,808,725.76

2,407,875,386.57

3,497,791,317.22

2,324,199,220.49

2,885,783,599.15

2,757,035,264.22

3,209,568,395.26

4,141,530,661.97

3,421,024,204.68

2,919,918,555.41

2,714,706,394.99

2,459,364,384.64

2,625,815,271.94

2,334,607,804.34

2,441,416,999.14

2,335,925,953.74

2,651,111,933.06

2,625,588,665.91

3,244,020,328.93

2,928,194,928.07

2,310,274,788.13

3,123,192,567.80

2,596,097,745.90

2,625,140,970.78

2,600,970,357.66

15,834,173,467.20

3,599,566,911.82

751,610,755.91

214,078,218.11

135,627,219.07

2,692,782,410.04

3,126,869,735.56

5,147,046,274.87

114,845,349,600.25

2,598,285,575.05

2,592,763,745.34

2,515,117,953.20

2,877,571,768.44

6,415,444,995.49

2,726,547,191.16

2,928,518,458.74

2,381,289,703.05

3,182,175,136.84

2,425,758,681.31

3,092,808,725.76

2,407,875,386.57

3,497,791,317.22

2,324,199,220.49

2,885,783,599.15

2,757,035,264.22

3,209,568,395.26

4,141,530,661.97

3,421,024,204.68

2,919,918,555.41

2,928,784,613.10

2,459,364,384.64

2,625,815,271.94

2,334,607,804.34

2,577,044,218.21

2,335,925,953.74

5,343,894,343.10

2,625,588,665.91

3,244,020,328.93

2,928,194,928.07

5,437,144,523.69

3,123,192,567.80

2,596,097,745.90

7,772,187,245.65

2,600,970,357.66

2,611,508,108.22

=N=

Gross Total

6=4+5

1,687,226,870.81

18,276,405.13

26,577,009.13

12,891,275.62

24,924,622.25

33,672,056.85

14,158,388.56

79,655,760.48

70,989,982.34

36,064,863.19

51,923,004.45

23,927,857.61

18,568,876.85

377,218,633.57

19,522,388.43

18,084,708.40

26,877,328.35

74,033,026.09

27,471,110.18

124,439,748.98

15,825,526.14

33,117,690.13

22,605,406.41

30,477,586.58

30,217,966.49

41,405,664.11

22,638,040.32

15,884,432.70

166,407,004.94

13,114,791.22

16,127,321.84

21,302,537.22

35,833,127.79

23,611,479.73

80,649,051.02

20,798,221.88

17,933,975.83

=N=

External Debt

0.00

7,426,526,055.12

0.00

609,914,612.08

0.00

945,881,467.00

0.00

101,637,860.22

2,000,000,000.00

0.00

499,551,677.82

0.00

520,000,000.00

0.00

1,098,907,642.20

0.00

103,855,987.23

1,241,107,428.57

305,669,380.00

=N=

Contractual Obligation (ISPO)

8 Deductions

20,729,448,423.41

1,102,710,050.79

89,972,595.59

336,845,663.52

180,785,264.80

2,111,216,788.82

601,176,348.27

559,509,707.14

1,375,047,323.53

1,031,708,344.98

1,133,331,119.97

689,831,700.03

124,304,116.61

340,313,959.43

436,836,301.22

264,239,440.81

242,889,921.45

548,536,585.95

203,254,936.77

89,972,595.59

929,664,550.70

272,954,928.64

206,468,378.89

947,306,623.85

479,532,928.16

119,126,090.33

1,145,011,172.37

1,246,777,461.20

450,366,683.58

426,834,701.65

1,046,433,331.96

271,152,217.76

107,021,602.06

977,490,067.63

330,357,169.14

310,467,750.22

=N=

Other Deductions (see Note)

85,002,148,250.91

1,477,299,119.13

2,476,214,140.62

2,165,381,014.06

2,671,861,881.39

4,270,556,149.82

1,501,297,842.25

2,289,352,991.12

(10,629,069.82)

2,114,401,928.67

1,240,504,556.89

2,379,049,168.12

2,163,364,532.89

1,120,572,683.65

1,964,362,872.63

2,430,862,589.53

2,465,918,495.06

2,892,645,447.72

3,565,522,965.84

3,093,329,518.93

2,814,120,433.68

1,966,002,372.27

1,664,252,371.77

2,388,869,306.47

1,357,083,214.00

1,536,105,625.94

2,194,161,823.09

3,084,091,095.83

1,212,404,199.77

2,780,538,854.13

2,381,376,917.35

3,128,301,225.94

2,510,537,842.25

2,465,464,664.11

6,714,048,127.00

2,249,814,966.64

2,283,106,382.17

23,915,015,136.23

529,697,985.05

528,572,280.43

512,743,065.95

586,634,503.23

1,418,938,372.75

555,845,965.18

597,020,720.76

485,460,247.18

677,462,757.61

494,525,889.70

630,513,660.97

490,880,122.17

713,075,202.60

473,821,529.00

588,308,603.34

562,061,398.56

654,316,803.42

844,310,751.56

697,425,119.63

595,267,506.45

604,013,004.37

501,376,896.96

535,310,310.77

475,943,468.92

527,633,938.90

476,212,192.68

1,173,176,972.05

535,264,113.86

661,340,326.94

596,954,764.37

1,189,970,982.76

636,707,845.34

529,251,964.52

1,765,677,700.57

530,245,316.70

539,052,850.98

=N=

Distribution of Exchange Gain

Net Statutory Allocation =N=

10=6-(7+8+9)

3,596,735,719.12

135,776,592.55

71,965,053.74

61,638,391.14

71,166,159.31

96,257,590.51

78,000,014.98

83,230,524.02

131,792,623.17

59,433,195.91

77,814,135.41

327,770,365.40

78,184,837.01

62,497,184.73

114,119,052.84

57,729,715.55

267,192,030.59

70,438,515.60

83,322,183.43

107,197,907.46

89,211,778.55

76,656,801.61

65,024,706.72

99,316,333.51

62,644,577.40

59,747,874.77

107,063,658.59

114,204,408.25

67,396,482.72

196,627,735.50

76,373,322.09

135,048,709.73

55,038,329.67

80,943,754.28

64,335,368.51

80,361,235.01

63,112,782.73

68,101,786.13

=N=

Distribution of =N=9.923Billion Solid Mineral Rev from 2007 2014

32,352,444,419.15

677,708,536.77

613,356,319.89

617,944,559.68

726,047,445.78

1,058,645,468.70

691,151,865.93

1,026,172,930.52

698,591,061.42

699,921,417.46

744,754,239.38

743,100,073.93

597,059,148.77

6,349,790,964.74

621,720,038.40

688,677,723.08

687,553,856.56

860,546,432.58

1,210,084,447.23

915,704,294.35

766,470,760.89

757,380,101.96

621,511,709.62

736,086,417.10

619,959,423.44

799,487,175.30

613,005,468.17

786,340,994.25

668,702,548.22

741,788,242.24

773,003,129.19

609,108,530.22

781,085,330.54

769,266,936.26

727,679,785.51

692,373,579.00

660,663,462.07

=N=

Gross VAT Allocation

174,709,544,874.75

135,776,592.55

3,877,657,150.61

3,796,330,736.80

3,716,971,738.14

4,286,511,307.96

8,971,028,851.92

4,056,775,546.29

4,683,504,733.19

3,624,774,207.56

4,637,373,447.32

3,992,809,175.79

4,544,607,297.67

3,558,311,842.24

10,674,776,537.40

3,477,470,503.44

4,429,961,956.16

4,077,089,034.94

4,807,753,814.69

6,303,123,768.22

5,123,365,397.21

4,358,313,624.36

4,355,202,426.15

3,681,569,324.73

3,959,856,577.21

3,490,258,571.47

4,011,228,991.00

3,539,348,022.84

7,370,808,792.12

4,026,183,063.49

4,723,522,220.20

4,433,201,531.36

7,291,262,366.34

4,621,929,497.96

3,958,952,015.19

10,345,905,966.74

3,886,702,036.09

3,879,326,207.40

=N=

Total Gross Amount

144,866,343,525.41

135,776,592.55

2,756,670,694.69

3,679,781,132.08

3,367,234,799.00

4,080,801,420.91

6,826,140,006.25

2,831,526,197.38

4,044,339,265.57

1,232,855,434.69

3,569,600,239.15

2,807,555,051.37

3,830,847,740.03

3,313,800,988.56

8,297,557,903.83

3,117,634,155.58

3,975,040,946.54

3,785,972,265.78

4,490,830,867.15

5,727,116,072.09

4,795,670,711.46

4,252,515,502.63

3,392,420,185.32

2,886,457,311.86

3,722,910,611.74

2,512,733,981.13

2,970,290,398.73

3,397,583,892.19

5,111,005,544.85

2,612,998,597.35

4,260,040,745.40

3,886,383,520.64

4,982,419,068.59

4,009,274,772.41

3,828,318,933.40

9,287,766,848.09

3,535,546,645.07

3,550,924,481.35

=N=

Total Net Amount

15=10+11+12+13

Source: Office of the Accountant-General of the Federation

S/n

2 * Other Deductions cover; National Water Rehabilitation Projects, National Agricultural Technology Support Programme, Payment for Fertilizer, State Water Supply Project, State Agricultural Project and National Fadama Project

Note :

Total (States)

37 FCT ABUJA

9 CROSS RIVER

13 EKITI

8 BORNO

7 BENUE

6 BAYELSA

12 EDO

5 BAUCHI

11 EBONYI

4 ANAMBRA

3 AKWA IBOM

10 DELTA

2 ADAMAWA

=N=

166,591,941.82

=N=

2,444,916,166.40

13% Share of Derivation (Net)

Gross Statutory Allocation

No. of LGCs

Beneficiaries

S/n

1 ABIA

DISTRIBUTION OF REVENUE ALLOCATION TO STATE GOVERNMENTS BY FEDERATION ACCOUNT ALLOCATION COMMITTEE FOR THE MONTH OF JUNE, 2016 SHARED IN JULY, 2016

FEDERAL MINISTRY OF FINANCE, ABUJA

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

FOR THE RECORD

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Kalu writes EFCC, kicks against transfer of case to Lagos Amobi Nzelu, Counsel to former Governor of Abia State, Dr. Orji Uzor Kalu, in a letter to the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, kicked against the transfer of his case from Abuja to Lagos. The letter tittled RE: Transfer of Suit No. FHC/ABJ/CR/56/07 - Federal Republic Of Nigeria vs. Orji Uzor Kalu and 2 ORS.: Appeal For Re-Consideration, was copied to the Attorney General of the Federation and Chief Judge, Federal High Court. Excerpts:

e act for and on behalf of His Excellency, Chief Orji Uzor Kalu MON (hereinafter referred to as our client) on whose instruction and authority we write this letter to you. For a proper appreciation of the issues to be canvassed in this letter, it will be appropriate to state briefly the facts of this case to enable you be in a comfortable if not confident position to act decisively on the issues raised therein. Our client alongside others were arraigned before a Federal High Court Abuja in 2007. Following rulings which did not go down well with our client, he appealed alongside others upto the Supreme Court via Court of Appeal. The matter was remitted back to the Federal High Court in 2016 by the Supreme Court for trial. The matter was assigned by the Hon. Chief Judge of the Federal High Court to Hon. Justice Anuli Chikere. At the last adjourned date, plea was taken and the matter adjourned to the 6th,7th Et 8th day of December, 2016 of definite hearing. The information at our disposal is to the effect that your Commission after the last adjourned date and without reference to our client or his defence team, requested for the transfer of the aid case to Lagos. At the last adjourned date, your Commission alongside the defence team took 6th, 7th 8th day of December, 2016 for definite hearing. Both parties departed the court with a view to come back and commence trial on the agreed dates. Surprisingly and behind the back of our client and his defence team, your Commission applied to the Hon. Chief Judge of the Federal High Court for the case to be transferred to Lagos Judicial Division of the Federal High Court. At this juncture, it is pertinent to bring to your attention the following verifiable facts to wit: a. Our client alongside others were arraigned in 2007 before the Federal High Court, sitting in Abuja; b. After his bail application was argued, ruling was reserved, he was remanded in Federal Prison in Kuje, Abuja; c. He sojourned in Kuje prison till

Magu

he perfected his bail conditions; d. Following interlocutory applications and the appeals arising therefrom, the matter went upto the Supreme Court and was in 2016 remitted back to Federal High Court, Abuja for trial by the Supreme Court; e. The Hon. Chief Judge Federal High Court in keeping with his statutory functions assigned the case to Hon. Justice Anuli Chikere; f. Having taken plea, our client was allowed to continue with the court bail he has been enjoying; g. On two occasions, the case was adjourned because of pending appeal and it was at the third appearance that plea was taken and the matter adjourned to 6th, 7th and 8th day of December, 2016 for definite hearing; h. Both parties agreed to the three days for definite hearing fixed by the Court; i. When the case was remitted back to Federal High Court for trial by the Supreme Court and the three appearances before the trial Judge, your Commission never raised the issue of transfer; j. Throughout the trial in Federal High Abuja and before the matter went on appeal, your Commission never asked for a transfer of the case; It is evidently clear from the above chronicled verifiable facts that your Commission went into deep slumber and suddenly woke up to shop for forum convenience. What must have justified this sudden transfer is not far fetched. Your Commission went for a shopping bonanza and arrived at the residence of "forum convenience", hence this request for the transfer to Lagos. To secure conviction at all cost is inimical to our criminal jurisprudence and must not be encouraged. For good nine (9) years, it never dawned on your Commission to seek for a transfer until when dates have been given by the trial court for definite hearing. To seek for transfer in a matter when both parties have agreed to dates for definite hearing

Kalu

is nothing short of undue interference in the administration of justice. The greatest human instinct is self preservation hence this protest on behalf of our client and the defence team over this transfer. In the defence team of our client are five Senior Advocates of Nigeria Namely: Awa Kalu SAN, Chief Mike Ozekhome SAN, Solomon Akuma SAN, Nwufo SAN, Chief Gordi Uche SAN and my humble self. All of us are resident here in Abuja. Our client who after eight years as Executive Governor of Abia State retired into private quiet life in his village Igbere in Abia State was forced to relocate to Abuja for this trial. Suddenly, the trial is now being transferred to Lagos. One may ask for what purpose? The answer is simple-to secure conviction at all cost. The day an ordinary man is made to understand that he can no longer get justice or he is being persecuted and not prosecuted, that day will signal a warning shot for chaos, anarchy and civil disobedience better imagined than experienced. Just few days ago, the sacred temple of justice was desecrated in a Rambo style by security operatives, today an accused person standing trial for over nine (9) years has his case transferred from Abuja to Lagos after dates for definite hearing by the trial Judge has been given, the next thing on line is to target lawyers defending the politically exposed persons- God forbid. Justice is a three way traffic-to the accused, to the accuser and to the dispassionate onlooker watching the entire scenario. Will such a dispassionate onlooker go home with the impression that justice has been done in this matter? The Answer is certainly NO in view of the fact that a matter that lasted for nine years in Abuja is being transferred to Lagos after the court must have given dates for definite hearing. The conduct of your Commission becomes more worrisome when viewed against this background that neither our client nor his defence

team was taken into consideration. It is also worthy to note that before the said transfer, Politicians in Abia State and its environs had predicted at various fora that this matter will be transferred to Lagos where conviction will be secured at all cost. Recall sir that the allegations against our client were situate when he was governor of Abia State from 1999 to 2007. If your Commission is favourable disposed to transferring the case, let the Commission adhere to what the Supreme Court said in Ibori's case-venue of the alleged Commission of the crime, in this case, Umuahia, Abia State. It is a common knowledge that there is Federal High Court in Umuahia, why Lagos if not to secure conviction? There is no justification legally, morally or otherwise for the said transfer if not to secure conviction at all cost and put our client into avoidable expenses of moving his defence team to Lagos whenever the case comes up. Finally sir, we request as follows: 1. That the matter be returned to Abuja Judicial Division of the Federal High Court and before the judge who ,has given definite dates for hearing; 2. If that is not acceptable to another judge in Abuja Judicial Division of the Federal High Court; In The Alternative 3. To Federal High Court Umuahia. We have absolute confidence in your capacity to handle issues of this nature, hence this letter to you. Kindly do the needful by returning to the drawing table and doing what justice demands in the matter All further correspondences in respect of this matter should be channeled through our office here in Abuja. Thanks in anticipation. Yours faithfully, PP: Amobi Nzelu & Co.

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Interview IMF’s option ‘ll save Nigeria’s economy from collapse – Kalu

Politics The decision of President Muhammadu Buhari’s wife, Aisha, to go public with her concerns over her spouse’s government has not only sent shocking waves in the polity, but further confirmed the growing discontent within the ruling party, Felix Nwaneri reports

A first lady’s fury

as President Muhammadu Buhari lost control of his government? That is the question most Nigerians are asking given the shocking revelations by his wife, Aisha, in an interview she granted to the Hausa Service of the British Broadcasting Corporation (BBC). The President’s wife said Buhari’s government had been hijacked by a “few people,” who were behind presidential appointments. She also said that the President did not know most of the officials he had appointed. She warned that she may not back her husband at the next election unless he shakes up his government. According to her, people who did not share the vision of the All Progressives Congress (APC) have been appointed to top posts because of the influence a few people wield. Her words: “The president does not know 45 out of 50 of the people he appointed and I don't know them either, despite being his wife of 27 years. Some people are sitting down in their homes folding their arms only for them to be called to come and head an agency or a ministerial position," she said. Though the First Lady failed to mention names, she said some of such appointees are not on the same page with the President on the vision of the APC. “A lot of people have been coming on their own and also collectively to tell him that things are not going the way it should when it comes to putting people in certain positions. Because most of those that are occupying positions in agencies, nobody knows them and they themselves don’t know

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

President Buhari and his wife, Aisha, during his inauguration

our party manifesto; what we campaigned for; they were not part of us completely. “People were sitting down in their houses, folding their arms only for them to be called to come and head an agency or a ministerial position. They don’t have a mission or vision of our APC. Some of them don’t even have voters card, and those who made sacrifice have been reduced to nothing and certainly not happy with the way things are going,” she said. Mrs. Buhari call for the strengthening of the ruling party, saying “whoever is not part of the APC should not have control over fifteen point something million people, who voted for the President. We are in a democracy and not military era, so we have to play it well and leave a legacy.” On whether the President will contest the 2019 election, she said: “He is yet to tell me but I have decided as his wife, that if things continue like this up to 2019, I will not go out and campaign again and ask any woman to vote like I did before. I will never do it again.” This is not the first time the President’s wife is expressing displeasure with the APC government. She had in November last year appealed to the administration not to renege on its campaign promise of paying N5,000 stipend to unemployed Nigerians. In a statement by her media aide, Adebisi Ajayi, Mrs. Buhari also asked the APC to fulfill its promise of giving school children one free meal a day.

If things continue like this up to 2019, I will not go out and campaign again

Buhari replies While many have commended Mrs. Buhari for speaking out, her husband dismissed the claim of his government been hijacked by a cabal. President Buhari, who spoke in the German capital, Berlin, while answering questions from journalists said: “I don’t know which party my wife belongs to, but she belongs to my kitchen and my living room and the other room. “So I claim superior knowledge over her and the rest of the opposition because in the end I have succeeded. It’s not easy to satisfy the whole Nigerian opposition parties or to participate in the government.” Between denigration and banter Expectedly, Buhari’s choice of words (that his wife belongs to the kitchen) did not go down well with some activists, who described it as offensive. A female senator, Abiodun Olujimi, who is behind the Gender Equality Bill that was recently rejected by the Senate, said: “The statement is in bad state, especially because he was saying it beside one of the most powerful women in the world. That makes it very offensive and very nasty. “The president is the biggest diplomat a country can have. But we have a president that cannot weigh word —especially outside— but instead allowed emotions to becloud good thoughts. That is not in any way acceptable. “We won’t disparage the president. We won’t bring him down

before the world. But, of course, we would look inward and see how we can handle the situation.” But the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, who played down on his principal’s comment, said he was merely joking over comment on his wife and called on Nigerians to disregard it. The presidential spokesman said in a series of tweets that President Buhari respects and believes in the ability of women. “My friends, can't a leader get a sense humour anymore? Mr. President laughed before that statement was made. He was obviously throwing a banter. “One of Nigeria's most sensitive office today is headed by a woman, Mrs. Adeosun. This is an evidence of the confidence he reposes on women. “Politics sometimes should be spiced with humour. Those of us around him know there is never a dull moment with him.” he tweeted. Saraki says he’s been vindicated Despite the President’s dismissal of his wife’s claim that a cabal has hijacked his government, Senate President, Bukola Saraki, said the fact that Mrs. Buhari could come out to openly express reservations about her husband’s appointees, showed that his earlier argument that the government had been hijacked was in good faith. Saraki, who spoke through his media aide, Bamikole Omisore, said: “It is true that we still believe CONTINUED ON PAGE 15

POLITICS \ MONDAY INTERVIEW

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

IMF’s option ‘ll save Nigeria’s Former governor of Abia State, Dr. Orji Uzor Kalu, featured as a special guest on the Africa Independent Television (AIT's) flagship programme, “Democracy in Session” last week. During the session, the renowned business mogul bared his mind on the state of the nation and his dream for a better Nigeria, among other salient issues. TEMITOPE OGUNBANKE monitored the interaction

What do we need to do to bring the economy out of recession? What we need to do is to stimulate the economy. Even if we have trillions of naira packed in the Central Bank, it is not going to stimulate the economy. What we have to do is to go back to the International Monetary Fund (IMF) like we have gone to the Euro bond, which are finances that are very costly. I heard that IMF has given us zero per cent interest. We must understand that IMF was established to cushion poverty effect among developing nations. So, why are we not taking advantage of that? Why are we afraid of that? It is because people like some of our former presidents don’t like to hear the name ‘IMF’ and it is not right. I mean, we are a full member of IMF and we should utilise the opportunity. This is an opportunity; it is a 21st century opportunity. We have many Nigerians who restructured the economy of South Korea, Argentina, Colombia and other countries. There are Nigerians who worked with IMF and the World Bank. Some of them are still alive and they are watching me as I am speaking, and they know that what I am saying is the truth. We have no other way to go. When Barack Obama became President of United States, the economy of the country was almost collapsing; he put it back by stimulating the economy. You are an eminent businessman, what difficulties do you go through in doing business in Nigeria? Is it strict to do business in Nigeria presently or flexible? Let me tell you something; we have vessels and for the past one year, from September 23 till today, none of those vessels have worked. Some of them worth $40,000 a day and if you have 36 to 40 vessels lying down there, with investment of over two billion dollars and I have to pay the bank, do you think I will be sleeping? It is not possible! That is what we are saying; it is a problem. You are manufacturing goods, you manufactured at less cost because every day the dollar is going up. In

Kalu

2014, when I heard that they borrowed from banks to pay federal civil servants, I questioned it and I said it was wrong to have borrowed because if you start borrowing for civil servants salary, it means you are already in recession. Most people in government then abused me and said my comment was because I wanted to do this and that. That is where we are today. It could even be worse. One of the arguments on ground is that no matter how much we take from the IMF and what we bring in, if we are not disciplined… IMF won’t give the money without letting you know the transparency in it. Going to IMF doesn’t mean that we must take money. Going to the IMF means they might be able to cushion us, straight jacket us and put us where we supposed to be and then, we dismiss them saying we don’t need the money. This is how it happens. We must go to the IMF to set the framework, to set how we are going to do things. It is not part of the decision and the IMF is not a bad place to be if we must grow. Remember, the Republic of Korea used to import wheat and rice, and many things. Before, they were not genuinely a big country manufacturing electronics; they were not a country that has hitech. It was when they start to import rice and grain from Thailand and some countries, that they saw that the people they were importing from were cultivating and they too cultivated rice and grains because of the big competition. They called

IMF was established to cushion poverty effect among developing nations. So, why are we not taking advantage of that?

the World Bank and restructured their economy. That was how they became a giant in electronics and hi-tech, building vehicles. That was what happened. Many people hear that Lee Kuan Yew took Singapore from Third World to First World. He didn’t do magic; it was a commitment to help his country. Former President Ibrahim Babangida tried to use the policy of IMF loan; we didn’t go to the IMF because if we want IMF, we must go straight. IMF policies will remove a lot of pot-holes on the streets and straightjacket us and most times, eliminate corruption. This is where we have to be. So, if leaders are afraid of going to IMF, they have something to hide. What is the relationship between politics and running a good economy because those people who come up with ideas are politicians who have interests in economic matters? What relationship does it have with running a good economy? The mistake we are making is that once you appoint somebody somewhere, the next thing is that he wants to go and run for governor or president, and that is not what it should be. If you are a good Economics teacher, that does not make you a good economic manager. What countries lacked is that they have not put their best resources to work. Can you break that down? You can be a good economist but you may not be a good president. You can be a good president but

you will not be a good economist. What you do is to assemble the best of minds. If this economy can have these legs here and there, we will not be having this problem. The economy has not even started. This is why anybody can become President of United States because checks and balances are there. The issues to resolve would be there and the issues to be countered will be there. But when people are voting for the president base on religious basis, tribe, height, black or white, Igbo, Hausa, Fulani, Yoruba, Urhobo, Efik, Ibibio, how do we move forward? People should be voted into office because they have ability to do the business and run the business. Nigeria’s problem is not political; it is economic because once you solve economic problem, the political problem will be taken care of because our greatest problem is the economy which we have not solved since 1960. We need to solve it; otherwise the whole thing will collapse in our hands. The Muhammadu Buhari government is about two years in office and the administration has taken a lot of steps; how would you assess the administration? Many people are saying that Buhari’s administration has not done well. To me, the administration has done very well in some areas. Recently, I went to Maiduguri and some parts of Adamawa State, where I couldn’t have entered before. We fought Boko Haram for many years without much success and in less than one year,

POLITICS \ MONDAY INTERVIEW

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

economy from collapse – Kalu you can now go to all those places; you should give him credit. He has done well but he should be able to do more in the areas of kidnapping, militancy and clearing the road. If a country wants to really be great, they will clean the road. People can go from the Sahara desert to the Atlantic Ocean without fearing anybody. When I was governor of Abia State, I met crime and I fought crime straightaway. I got the Police to be committed, I got the Army to be committed and I also got civilians to be committed. In those days, from 1999 to 2007 when I left office, you could leave your car in any part of Abia and you would be safe and your property would be safe also. All those boys who use getaway buses, we stop them on the road. We stopped it because these things are man-made. This is what you can do; this is what you can fight against. Apart from the fight against insurgency and security issue, will you also give the president a pass mark on the running of the economy? No, I will not give him a pass mark about running of the economy. What the problem is I don’t know because I have had the opportunity of talking with the president. I know he is committed. When you speak with him one-on-one, you would see he is committed. Would you attribute the problem to people around him? I cannot say because the president means very well for Nigeria. He means very well but possibly I think they are missing one or two things because when you make a forecast and they are not able to read the forecast, it becomes a problem. We are in a confusion mode. The president is just one man; he is just the president of Nigeria. He has a good team of ministers. Some people are calling on the president to change ministers. The problem is not about changing ministers; they should work more as a team. They should have more time with the president. They should have more time with the people they appointed and they should have more time with security chiefs and the ministers themselves. I am not saying they are not meeting; they should go back to the committee of the whole house and see themselves as one team. When you say the President has good intentions and means well, everybody begins to look at which president are we talking about? He means well and that was why he was voted but today Nigeria is more divided according to critics than ever before. We have economy that is down and you say we have a president that is doing well. Where is the measure? In terms of security, the President is doing very well. In terms of the economy, he has not done very well. It is possible the economy is not what grows in one day; he needs to bring in more hands. People should stop criticising the Minister of Finance; she is a good lady, she is on the job. The president needs more good hands as advisers at the background so that they can formulate policies. No one man can run this economy; the economy has

to be done by you and me; journalists also have something to contribute. The President of Nigeria has something to contribute. Buhari is not the owner of this country. He is just first among equals but people think the president is everything, that he is the owner of the country. May be as a result of our military mentality... No, it does not work that way. I have more stakes than President Buhari in the economy. I employed 9, 600 staff. I have more stakes because this is a president that has no business and company that is his own. So, this is the issue. I have a stake of paying workers every month. Toward the end of every month, I will be having high blood pressure. Without making money, how can I pay money? So, this is the issue. We have our own to do. If corruption must be fought; there is a lot of corruption in the private sector. People have been taking waivers and they never invest the money. People have taken all kinds of things. If we are addressing the issue of corruption, it has to be addressed across board because the corruption in Nigeria, you cannot only fight politicians or the civil servants; you have to also fight the businessmen who have stolen the money. A lot of businessmen collude with government officials to steal public funds. They are still there. When you talk about corruption, the judiciary is in focus now and there is also searchlights on former governors like you who have ran the affairs of their states and those who have been in a position of authority. How do we really make sure that this corruption is not just fought but fought decisively to its logical conclusion? This is what I have also been telling the government. I have a case

in the court. When I look at my conscience, my conscience is very clear. I have nothing to fear about anybody. I ran a very transparent government. ....you left office since 2007 and your case is still in court. I was the first to publish my income and my expenditure. The whole country knows that. I brought a new style to governance but the third term issue brought the best of the Economic and Financial Crimes Commission (EFCC) in people like me. If we didn’t fight the third term, people who are president today and ministers today will not be.

It is difficult to keep 36 states if we want to tell ourselves the truth

But why is it that the case has not ended since 2007? The case must end one day; we are prepared to end it and it must be ended. I don’t want to discuss about it because the case is before a court of law. Some people have said that Nigeria is not ripe for democracy and that we are just wobbling and fumbling along and that what we need is a benevolent dictator in Nigeria. Some said the politicians are not serious and that is why this democracy is not running fast. What is your take on this? No, we are very serious. It is because democracy has made many people to make money in politics. When we were doing this, I knew so many people who came into office with N50,000 but they are billionaires today. They build houses in hilltop and every kind of things; nobody asked them where they got the money from. If we really want to be serious, all our office holders from 1960 till date should be audited. We should bring audit firms to audit everybody and everybody would say how they got the money. This is because you cannot be blowing hot and cool. We know almost everybody in the country, we know the businesses they have done or they are still doing. So, you cannot come and generalize and call people thieves; it is not right because you know somebody, where he was before and where he is today and where he will be tomorrow. So it is not good calling everybody thieves. You just appoint somebody today and he acquire a house at Maitama in Abuja immediately; and a governor would be giving donation of N10 billion and minister would be giving donation, without asking him where he got the money from because that is not his salary. Is public office one of the surest ways to become rich because that is what people have said? For me and the team that I worked with when I was governor, I cannot say so because we didn’t get the money. But you are being tried for taking Abia State money? That is left for court of record to say but I will not take that.

Kalu

But what people are saying is that if you want to get rich quick, just go into politics, which is what is driving many people into seeking political offices? That is not what drove me into

politics. What drove me into politics was service. Remember when I went into politics, I had lost all my businesses going into politics. I lost the Hallmark Bank. The Managing Director of Hallmark Bank was disgraced openly because of me, because he didn’t open up to tell them what they wanted that I was the major shareholder of Hallmark Bank. They put him in jail and battered him. I lost Slok Airline with 14 aircrafts on ground. Anyway, we are in the court with the Federal Government on N30-N44 billion damages. I cannot discuss that now. My oil block was taken away from me all because of politics. For people who financed the Peoples Democratic Party (PDP) in 1999, I was one of the biggest spenders on the party. When people couldn’t believe that an individual can bring N100 million, N500 million, we gave that to the party and after doing that, we are now being tried of stealing and those who came with nothing are billionaires and nobody called their names. This country is funny. The country must come back a basis. The beauty of democracy is popular participation; people seek offices through political parties and get elected. Are we doing it right? We are not doing it right; both those we vote for and those voting, nobody is doing it right. Let us begin from those who vote, the electorate; are they doing it right? How can you collect millions of naira from somebody and you want him to go and win and give you leadership? The N2,000 or N3,000 they collect on election day are for four years. The politicians will not come back to them. Is that caused by poverty? It is not caused by poverty; it is caused by greed. Our cultural value has gone, and I say that we should bring back our old reorientation to our cultural value. Cultural value is zero. The power of state is also zero. It is not poverty. We have a lot of land in Nigeria and you can cultivate a lot of land. People want to come to Abuja and live. People want to live in Lagos. People want to come out in Enugu, Kaduna and Kano to live. People don’t want to live in local areas or some other region; they want to come and live in Abuja. That is what is causing the problem. And when they leave, most of them don’t have work to do; they bath from one house to another house. How would they survive? But you should also know because you are a politician that those who collect the N2,000 and N3,000 are those living in the rural areas. Is electorate collecting money to vote a problem? It is a major problem because the truth is that elections are not supposed to cost money. The populace is supposed to contribute for politicians to win election and give them good service. The politician is getting money to dole out and every day we are encouraging stealing. People are telling you, you need a lot of money to be governor; you C O N T I N U E D O N PA G E 1 4

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Corruption not limited to politicians, civil servants – Kalu C O N T I N U E D F R O M PA G E 1 3

need a lot of money to be member of House of Assembly. In the country that this thing is going on and everybody keeps quiet, it means that we are all encouraging stealing. You see politicians selling their houses to go and contest for election, in which country can this happen and the security agencies are looking at them; everybody is looking at them and clapping hands every day? In which system will this operate? When they get to the office, the first thing is to recover and get those houses back. Don’t you think politicians who are desperate to get into power, are the ones corrupting the electorate? No! When you check the statistics of the politicians, 65 per cent of them don’t have work to do than playing politics. When people like us went into politics, we went to politics because we want to play politics. I cannot stop playing politics for the rest of my life. Nobody can make me to stop playing politics because if I don’t do it, fools will come and rule me like it is happening in some places. If you go to some constituencies, some members of House of Representatives cannot go to their constituency for four years; they will be looking for money to bribe their constituents. So, the kind of commitment you need is the kind of commitment you see in President Buhari. He lost out being President three times and the fourth time, he became President; it is commitment. Nigerian people are hoping that he can transform that commitment to their own benefit because they believe him. It is the first time in Africa that an incumbent president loses power and leave. So, you praise him for winning and you praise the man that also left the office. You said if you stop playing politics,

Kalu

mediocres and people who are not qualified would come and run. So, you have been desirous to run elections. You were governor for eight years and after you left office, you have not successfully run elections to get to the office. You have always been pronounced a loser in all elections you have run; what is wrong?

Let me tell you, like the last one, you know what happened. You are a journalist and your organisation covered that election. How can you have election that somebody won at 6a.m and a National Commissioner of the Independent National Electoral Commission (INEC) from Ebonyi State will come and say it is inconclusive? And after inconclusive, what did the law of Nigeria say? You cannot have two results on the same day – true or false? If election is inconclusive, it is inconclusive. But INEC came out at 2p.m and say it has results of the election. Such a thing can only happen in a country like Nigeria. So you were cheated out? Do I need to tell you that? I am not a court; the case is before a court. It is up for a court to say whether we are cheated out or not. Can this kind of thing happen anywhere? The SSS, the Police, everybody, they know what happened. Can you tell us exactly what happened? I cannot tell you because we have transmitted the process of appeal to the Court of Appeal. So I cannot. But we would like to have your response... It is easy to tell you what happened but I cannot. What happened is that they cheated us by writing the results. The man who was pronounced the winner, Senator Mao Ohuabunwa said you didn’t win any election. He said that when he was busy working, you

A lot of businessmen collude with government officials to steal public funds

were not campaigning and even if they conduct the election 500 times, he will still defeat you… You know that is not true. Why did they suspend the election at the middle of the day? They said it is inconclusive and come back to announce the result of the election, which was earlier declared inconclusive. They did that because they wanted time to write the result. They couldn’t have done it there because if they had done it there, the people would lynch them. They couldn’t even do it at the level of the police station. So, if he will win 500 times, they could have won from zero one. You saw the judgment of the Court of Appeal in Owerri last year; the judge virtually called PDP and INEC all kinds of names. They are on record. I don’t need to repeat what the judge said. The judge said he had never seen such a fraudulent manner. We have already proven at the Court of Appeal that there were over voting. There was record of 75,000 voters but those who voted were 180,000. Because when we were in the lower tribunal, the lower tribunal had already rejected all those things and we went to Court of Appeal. Court of Appeal ruled that we are in order. So, because they have already ruled, the later law said anywhere you find issue of over voting, election should be re-run. And that was why the Court of Appeal abused both the lower tribunal and abused the INEC and abused almost everybody that conducted that election because it was too obvious.

How do we make sure that we run elections and the vote actually counts without malpractices that may lead to repeat of an election? All we need to do is both the Federal Government and the state government should be honourable enough to remove their hands from rigging elections; the better for the country. We must stop rigging election by people getting committed to it. There are some people who have no money but they are good people and they can give quality service, but because everything in election is about money, those people are not given chance. In the United States where we borrowed the presidential system of government, people donate money to those running for election because they know they will give service. There are so many good people who can run for election in Nigeria but they don’t have money. Chief Olusegun Osoba who was governor at a time was a journalist. Can we still have the same day for people like Osoba, a journalist to come and contest and win election? The answer is no. So, unless he sells one of his houses or gets someone who will sponsor him. So, if we really want to return to those good old days, Nigerian people should learn. They should ask themselves, is this system we are operating, profitable to us every time we take money from politicians? Everybody; the church and mosques are encouraging politicians to steal.

You talk about restructuring and some people are saying that we cannot run 36 states, 360 members in the House of Representatives and 109 in the Senate. They said governance is too bogus in Nigeria and therefore we must go to the table and restructure Nigeria. What manner of restructuring comes to your mind? Well, I have always said it; I am a believer of small government and big enterprise. Small government and big enterprise means the states should fend for themselves and contribute to the Federal Government. Can we sustain the 36 states structure and can they fed for themselves? Yes and no. It is difficult to keep 36 states if we want to tell ourselves the truth. It is more realistic to have nine or ten units of government instead of 36 because you have to protect the minority. So if not six, then between eight and ten; you can have components of governance in Nigeria and the Federal Government will be in charge of foreign affairs, currency, military, immigration. So, all the urge to become president will not be there because people have trivialized leadership which is not supposed to be. In real manner, leadership supposed to be service, service, service to the people and a strong service to the people. In term of the National Assembly, whether we want to reduce the component or not, we should close one of the chambers. We should close the House of Representatives and leave the Senate or we close the Senate and leave the House of Representatives. We don’t need the number of people to be doing something. We should go for referendum on what the people want. I am not supposed to be talking publicly because I have access to see the president at all time; but I am saying this with all sincerity of purpose that the earlier we discussed how to get the country back on track, the better for the nation. The nation is drifting and if it goes further, it is not good for us. We have missed several opportunities to be a great nation and we should not miss more. Opportunities had gone and I don’t want more opportunities to go more because we are a great nation. I am being honest with you; Nigeria’s economy can be the fifth largest economy in the world in the next five year if we do the right thing. Dollars suppose to exchanged N5 to one dollar but it is not so because we don’t know what to do. We have everything; God given things to be the fifth largest economy. We suppose to be bigger than California economy, which is the fifth largest economy of the world. They have no Customs and Immigration, and yet they are the fifth largest economy of the world. Nigeria can take that position as soon as possible. Don’t be bias where I came from. Let us forget my religion, height, colour and everything. Let us build the country. The country must be steadfast and we must all believe that we are Nigerians. We must come together strong as a country and unless we come together strong as a country, we would have a lot to regret.

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH C O N T I N U E D F R O M PA G E 1 1

government. We do believe that the President has good intention and we’re behind him. But a situation where a few people are in charge does not bode well for the image and the future of our country. “A situation where people that work within the executive say one thing and other people that work in the same administration say and even do another thing, shows that people are getting directives from different authorities. “Mrs. Buhari is our mother and she has come out to say that the way things are being run, where APC manifesto has been abandoned and the party completely left out of governance, should not continue for too long.” The Senate president had in June said some individuals within Buhari’s government were running a “government within the government” but the President dismissed the claim and described it as a figment of his imagination. Mrs. Buhari’s claim and the fears The First Lady may not be completely wrong when she claimed that those who worked for her husband’s victory in the 2015 election have been discarded as majority of those who vigorously supported the APC are still expecting to reap the dividends more than a year after Buhari assumed office. The President had never had it rosy when it comes to campaigns due to paucity of funds before the last polls. This, perhaps, explains why he suffered three consecutive defeats – 2003, 2007 and 2011 before his victory in 2015. Remarkably, the last elections was the first time, he extended his campaigns beyond the northern part of the country where he hails from. In the previous polls, he rarely campaigned outside his home zone, apparently due to paucity of funds unlike his Peoples Democratic Party (PDP) counterparts, whose party had been in power since 1999 with structures across the country and enormous financial resources to campaign round the nation’s 36 states. However, the coming together of the various opposition parties and defection of some members of the then ruling party (PDP), particularly five of its governors to the APC not only offered him a broader platform but resources to campaign across the country. Little wonder his campaign train which took off in Port Harcourt, Rivers State on January 6, 2015 was able to criss-cross the country’s 36 states and Federal Capital Territory unlike in the past. The mobilization was something to behold with the usual pomp associated with such rallies not lacking. But more than a year after the party had taken control of the Federal Government, some of these party chieftains, who worked tirelessly for the victory are yet to be accommodated in the scheme of things. They include those who served in the party’s presidential campaign council and the 19-member Transition Committee that worked with the then Peoples Democratic Party (PDP) government to ensure a smooth transfer of power. And like Mrs. Buhahi said that she won’t back her husband for a second term if things continue the way they are now, it is likely that those who worked for the APC in the last presidential election but have been left out in the scheme of things would look the other way in

Buhari: The war within

L-R: Mrs. Adejoke Orelope-Adefulire, Mrs. Buhari and wife of the Vice President,Mrs. Dolapo Osinbajo at the inaugural meetings of APC Women Presidential Campaign last year

the 2019 polls. Already, there is a cold war in the ruling party with its National Leader, Asiwaju Bola Tinubu, recently accusing the party’s National Chairman, Chief John Odigie-Oyegun, of being a fraud and insisted on his resignation. Tinubu, who is one of the arrowheads of the APC, described Odigie- Oyegun as a regressive element, who cares nothing for the progressive ideas upon which the party was founded and is hell-bent on guiding it into the ditch. He also said that he would rather drop the title of National Leader and remain a member of the party than hold such in a party of injustice. The former Lagos State governor played a key role in Buhari’s emergence as president. His contribution, both material and otherwise cannot be quantified. Tinubu’s support for Buhari stemmed from the party’s national convention where he mobilised other party stakeholders and APC governors to ensure that the former head of state was not muscled out by other presidential aspirants with huge financial war chest. Tinubu also jettisoned his vice presidential ambition, but nominated his former AttorneyGeneral and Commissioner for Justice, Prof. Yemi Osinbajo for the position. He later deplored his political machinery to ensure victory for the APC in five of the six states of the South-west in the presidential election. What does Buhari wife want? While the First Lady predicated her outburst on perceived hijack of her spouse’s administration by a cabal, her critics however believe that there could be more than meets the eye to it. The critics opined that Mrs. Buhari may be fighting back as the President’s scrapping of the Office of the First Lady and officially designating his wife as “Wife of the President” has denied her of the power and influence she would have wielded. The President had on assumption of office promised that there would be a clear difference between the role played by his wife during his tenure and that played by many previous first ladies. According to him, all ostentation, ubiquitousness and

I don’t know which party my wife belongs to, but she belongs to my kitchen and my living room and the other room

arrogance that comes with the office are over and done with. Copied from the United States (U.S) where the use of the title, First Lady to describe the spouse of an executive first began, the office of the First Lady is not recognised by the Nigerian Constitution though wives of presidents and governors have over time continued to enjoy public acknowledgement and some perks. However, this has generated lots of controversies among stakeholders who not only see it as an illegality but a drain to the nation’s resources. From a mere status in the First and Second Republics, the First Lady phenomenon has metamorphosed to a power broking one. It particularly became part of the polity in 1986 through the wife of the then military ruler, General Ibrahim Babangida, Mariam. Since then, wives of subsequent leaders, military or civilian have not only continued to glamourise the position, but strengthening it as well. As a result of this scramble for power, the title which has no mention anywhere in all of Nigeria’s different constitutions from colonial times to the one of 1999, has become an affliction at all levels of government in Nigeria - federal, states and even local councils. And despite the fact that formal budgetary provisions are not made for these offices, they are very generously funded with public funds. Also, the various first ladies are allocated a retinue of aides who are paid from public funds. These are beside their pet projects which are equally funded by the government. Nigerians react President of the Arewa Youth Consultative Forum Alhaji Yerima Shettima, who spoke on the issue, said the President’s wife will stand tall on the day of reckoning. His words: “I don’t think there is nothing wrong in a woman advising her husband and saying it out in the public. What she was saying is not for today but for the future especially as it concerns her family. It is expected that whether a man is in public office or not, he should have people especially family members who can advise him. “If Aisha chose to keep mum now and at the end of the day the whole thing boomerangs, the immediate family, either directly or indirectly,

may have to bear the brunt. We have examples of that around us already. It is obvious that the leadership of this country has been hijacked. The man meant well for the country but those around him are not thinking of the masses. So, if she chose to advice and her advice is now being misconstrued, then there is more to be desired. “It is a good thing that she opened up, so that when the day of reckoning comes, she will stand tall and nobody will accuse her of watching him go astray. We must all stand as patriotic Nigerians and support those who are genuinely committed to the development of this country. But for the national chairman of Civil Society Network Against Corruption (CSNAC), Mr. Olanrewaju Suraju, Buhari’s response to his wife is statesmanlike. He said: “I think the statement of Aisha should be understood that it was not directed at the president. It is directed at the system and the Presidency, and this is because some of the things that are happening are not originally in the party’s manifesto, secondly, some of the actors we are seeing now were not part of the original idea of the man’s presidency and thirdly, she is an insider. For her to have spoken out, it sends a message that she is probably not getting a positive response from the President on some issues. However, all we can see are people contradicting themselves; while they would persecute her for speaking out, they also chided the president in another breath for saying that his wife belongs to her kitchen. Without being chauvinistic, I think people are taking the President’s response out of context. It was an informal statement and you can see that the man made the statement jocularly and laughed. “His reaction says it all that Aisha is his wife and she is not the president and her statement can’t be taken as the official statement of the government. This reaction from the President tells us that he has granted his wife her own freedom of expression. Beyond the name callings that Buhari is not exposed or sophisticated, the truth is that the kitchen is where you have the highest power in anybody’s house. You can see that the kitchen cabinet is the strongest cabinet anybody can have. He is saying leave her there and don’t bring her statement into the politics of governance. It is not crime that the President had jocularly dismissed the attempt of people to cause unnecessary disaffection within his government. His response was statesmanlike; there is no need for fuss over the issue. An Islamic cleric, Shiek Ismail Illyasu Mangu, on his part said the President’s wife outburst is capable of inciting the public against the government. He opined that some members are using the First Lady to tarnish the image of the President and the country. Speaking at Jamaatul Izalatul Bid’ah Mosque in Farm Centre, Kano, the cleric said: “We are sad about the interview granted by the wife of the President. We believe that opposition members in the country are using her against the government. Her statement is unfair and capable of inciting violence. It is a threat to the peace of the country and we do hope the security agencies will immediately arrest her.”

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Opinion

Enduring issues in the anti-corruption war Dominik Umosen

ompelling evidence profiles President Muhammadu Buhari with strong personal convictions. His post-inaugural visit to South Africa, for example, where he pledged his resolve to ensure that the supreme price paid by forebears to protect the country’s unity was not in vain easily testifies to this. Re-affirmations of this conviction at fora, either within the country or during any of his much-maligned foreign travels, also testify. His avowed passion to re-fix the country consequently inspired further statements that were considered controversial, including that made during a visit to the United States of America (USA), where he regretted that the judiciary challenged his administration’s resolve to fight corruption. The arrest of judges on allegations of corruption, which is attributed to frustration by due process and continues to generate controversy, re-focusses attention on the failure of the National Judicial Council (NJC), to manage the institution for optimum decorum. But unilaterally arresting allegedly corrupt judges is invitation to anarchy. Not even non-arrest of the judge who released confiscated properties of an indicted former governor and member of the ruling party justifies this arbitrariness. Part of inspiration for allegations of partisanship, which further stress the administration’s credibility, is arrest of Justice Ademola, who has been critical of the DSS for detaining former National Security Adviser, Col Sambo Dasuki (rtd) despite a court order. Goodwill will further shrink unless the administration overcomes its transparent reluctance to penalize Fulani herdsmen for escalating criminalities across the country, including the genocide

in Agatu which the ECOWAS Court for Arbitration is investigating as a crime against humanity. Despite the ensuing aggregation of disaffection, President Buhari can still scale this challenge by short-changing mischief makers who manipulate this sentiment for sinister objectives as 2019 draws nearer. Yours truly is hoarse from unsolicited counsel about the antics of mischief makers and devious politicians within. The situation demands that the number one citizen should upgrade his strategies of engagement with Nigerians because melodrama creeps in if he stridently insists that his target is corruption, not judges, while the APC National Secretary, Alhaji Buni hilariously argues that the president knew nothing about the judges arrest. The war against corruption, which is wholeheartedly supported by Nigerians as a matter of patrotism, will be doomed if it is waged beyond the rule of law. The process risks being hijacked by politicians who are more interested in collaboration with kindred desperadoes that are disillusioned with the in-fighting in the PDP and hope to raise political muscle robust enough to credibly challenge the ruling party as it waits to exhale in an implosion. What restrains that implosion is uncertainty over whether Buhari would mimic the till-death-dome-and-power-part antics of Robert Mugabe of Zimbabwe. The consensus is that because of the urgent need for a prosperity revival in the country to blend finally with the aspirations of its founding fathers, the anti-corruption war should be supported as long as the president is ready to take the fight to its logical conclusion. But can the combatant livestock farmer from Daura convince Nigerians that the war is not a tool for 2019 from which any political creature could creep like the harassment of Justice Ademola

The process risks being hijacked by politicians

allegedly for his blistering criticism of the DSS for flagrantly disregarding a court order to release Dasuki? The allegation is that the FG’s failure to prosecute criminal herdsmen even when other Nigerians are killed for lesser offences offers legitimate opportunity to manipulate and blackmail the president. Still, many say that they remain committed to support the president so long as he provides justification for doing so. Yet, there is concern that the war against corruption became tainted with suspicions after the curious claim that fighting the menace logically from source, not half-heartedly, amounted to distraction. Many Nigerians still insist that leaving the source to fight symptoms of corruption is as good as celebrating defeat even before commencement of the battle. But Buhari can still restore confidence in his pet programme. The quickest and simplest way to do so is by re-assuring Nigerians, in words and action, that the war offers no pretext for trending desperation ahead of 2019. Most agree that whoever is corrupt, including judges, should explain why he should not be punished accordingly. But Nigerians, however, reject any procedure that prescribes selective criminality for offenders. There is consensus that corrupt politicians migrated to the ruling party where they secured respite, further complicating credibility pressure on the anti-corruption war. More bizarre is that a judge who released over 46 houses that were previously seized by the Economic and Financial Crimes Commission (EFCC), escaped capture in the raid on supposedly corrupt judges. These contradictions sustain enduring credibility issues in the anti-corruption war. Folks do not care who is arrested but they demand it must be done within the rule of law. And not prosecuted selectively or with transparent crudity! •Umosen (dominikumosen1@gmail.com) wrote in from Lagos.

Imo economy and ravaging Inflation Cyril Aririguzo

onest reflections of the true picture of things in Imo seem to suggest that all is not well with the economy and its people. There has been sharp decline in economic activities and in the Gross Domestic Product (GDP) for more than Six months running and nothing tangible seems to have been done by government to remedy the situation. Even, the latest forecast by the International Monetary Fund (IMF) a week ago predicted that Nigeria economy would contract further by 1.8 percent and this was further re-affirmed by the Finance Minister, Kemi Adeosun when she concurred that Nigeria was technically in recession. Already, Imo State is experiencing some of the worst form of recession in recent time from the look of things on the ground. The resultant effect of the contemporary situation is the harsh economic condition, occasioned by insensitivity of those in government to the plight of their subjects. This shows why the lingering face off between the civil servants, pensioners, the organized private sector and government has continued. As the problem continues many families are finally disorganized, pauperized, confused

and mesmerized as a result not knowing what to do and the government is not concerned. The insensitivity of the government has drawn huge criticism and condemnation to the extent that many are calling for the governor to resign. If I may recall, before Governor Rochas Okorocha was re-elected in 2015, he promised during his campaign to bring succour to the people, fix all the roads he embarked upon, improved quality of lives by embarking on people oriented projects, create jobs for the unemployed, stimulate trade and attract foreign investments by providing enabling environment in the state. This was equally reflected in his campaign mantra, “Job, Job, Job, Factory, Factory, Factory, Employment, Employment, Employment,” which was smartly used while the election lasted. Today we have seen that such boisterous statements and promises were well articulated make-belief strategy to hoodwink innocent and gullible electorates to have their votes. Many thought the government had something to offer in terms of economic package to backup the promises or to create enabling environment and policy to drive the economy and create jobs for the unemployed. The hard truth is that there is no economic policy or package available, no job has been created or factory sited in Imo or been attracted to the state even with all the several foreign

trips which I am sure have gulped billions from our monthly allocations. I do not want to sound immodest, hard times are certainly here and ahead of the people. Imo state is in trouble because its economy is a shambles and it appears the government is running short of ideas on how to solve the economic problems bedeviling the state. Many have alleged that corruption has turned to corporate leadership of sorts. Imo’s present leadership has been accused of having insatiable appetite for material wealth acquisition and ostentatious living, a matter people have considered an affront to their collective intelligence. Public confidence has been eroded by the conduct of the government in running its affairs, having removed every sense of sanity and has not only become a thorn in the flesh of the people but has become very unpopular as the day goes. Corruption, mediocrity, favouritism and lack of purposeful leadership have been evident here, like we all know that these evils and cankerworm prevent the society from putting its abundant human and natural resources into productive use. It is a product of bad governance which often leads to poor economic growth as well hampers economic development of the state. The government of Governor Okorocha has been accused severally of compounding the expectation of the ordinary man who waits in vain to feel the impact of good

governance. In Nigeria where our economic development is tied to our political survival, it will be pertinent to observe that the mirage of problems in our society might be more compounded if the trend of events by our political actor is not put on the check or advised to make amendments. The product of this kind of political enterprise is the lack of trust between the government and the people and which is robbing off negatively on the state. Already the perception of the people may have changed given the negative impact of the raging economic recession and this of course forms the reason why many pundits are of the view that our journey to economic recovery may be fait-non-accompli. Even in the terrible situation many still believe that something could be done to salvage the situation if our leaders will be more proactive and patriotic enough to do the right things before things get out of hands. With the frightening increase in poverty, hunger and despair it will be an understatement to say that Imo of today is sick and is experiencing the worst form of economic hardship occasioned by seeming poor leadership. The fact remains that the state has not been up to date in the paying of civil servants and pensioners their salaries and pensions. •Aririguzo wrote in from Owerri

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

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Sultan and Fulani herdsmen

errorism is the word for a new wave of attacks launched by killer herdsmen all over Nigeria but most prominently in the Middle Belt, South East and South West axis. While all eyes are on the Fulani, a prominent Fulani, the Sultan of Sokoto, Mohammed Sa’ad Abubakar the Third, is leading the crusade to tackle the aggression headlong. In a country where politicians have used the divisive weapon of ethnicity to heat up the polity and cause avoidable bloodletting, the Sultan has shown that he is not only a man of peace but a man of honour as well. In September, Sultan Abubakar, came out boldly to state that the herdsmen plundering villages and highways were not of Nigerian background. He urged the military to step in and flush out the marauders. He said: “They are therefore terrorists and should be treated as such by Nigerian security agencies. The Nigerian herdsmen are very peace-loving and law abiding people.” Coming from the most powerful Fulani leader in the country, that bold move made a lot of sense. Many compatriots who believed that the killer herdsmen enjoyed the full support of some prominent Northerners, thought the muslim leader could have been economical with the truth. Less than a month after that declaration, Sultan Abubakar

came out stronger to attack the killers. Addressing a gathering of eminent Northerners in Kano, he said: “There are very terrible herdsmen who kill. But they are acting on their own. They are criminals and they must be treated as criminals. Therefore, the Federal Government should prosecute them.” Sultan Abubakar did not spare the terrorists. “ It is disheartening to hear people say Fulani herdsmen want to islamise Nigeria and that is why they are killing. Any Fulani herdsman who kills is not acting the script of the Fulani community in Nigeria, neither is he working

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his background, Sultan Abubakar belongs to Course 18 of the Nigeria Defence Academy (NDA), which produced a Service Chief, in the person of Lt. General Azubuike Onyejirika. Another course mate, Col. Honest Stephen, who once served as Acting Military Administrator of Lagos State during the days of Buba Marwa, is also a First Class traditional ruler in Taraba State. There is a bigger task for the Federal Government. The Sultan

He is Fulani and the herdsmen are Fulani

for the muslim community,” he added. What the leader of the Sokoto Caliphate has done is commendable. He has challenged the military to get going. If the Defence Headquarters did not know that the country was under siege, it is now spelt out clearly. Foreign invaders are within us. The Sultan is not one to berate his constituency. He served the Nigeria Army dutifully before ascending the throne of his ancestors in 2006, following the death in an air crash of his predecessor. It was because of that unfortunate incident that he left service. For those who do not know

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is all out for the prosecution of those who have invaded the country from outside our shores. While Abuja con-

centrates efforts on fighting and killing fellow Nigerians in the South-East who wear the toga of Independent Peoples Of Biafra (IPOB) and militants in the oil rich Niger Delta better known as Avengers, we are yet to see any military offensive against these terrorist herdsmen. Leadership is about being bold and decisive. Sultan Abubakar has, indeed, shown that he is a strong leader and has the interest of this nation at heart. He is Fulani and the herdsmen are Fulani. This is the way forward. Some of our leaders are part of the problem. The Sultan has come out clear as part of the solution.

And we have to give him credit. Sultan Abubakar has red Fulani blood flowing in his veins. He is a descendant of the great Usman Dan Fodio who led a Jihad in 1804. Originally, they migrated from Futa Toro, in today’s Northern Senegal and belong to the Toronkawa clan. It was through Dan Fodio that the Fulani began the conquest of Northern Nigeria. A Fulani could be Bororoje (Cattle Fulani) or Fulani Gidda (Town Fulani). From the Sultan’s intervention, it is now clear that he is not backing killers, who critics believe are out to continue from where Dan Fodio stopped. These strong words coming from this Very Important personality are fair enough. Our country needs fair minded leaders like him. It should not come to some who understand the mind of the traditional ruler as a surprise. As a military officer, he was a FIFA graded referee. As the world soccer body preaches Fair Play, the Sultan has demonstrated that he is not far away from the people. The Federal Government must lead the way. Killer herdsmen have invaded our land. We cannot sit idle. Time has come for President Muhammadu Buhari to do the needful. Nigeria must declare total war on these terrorists who mingle with cattle to destroy our unity.

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

INTERVIEW

Law

Justice Ngwuta

Ojo: Why constitution amendment’ll resolve IPOB, others’ grievances

NEWS Oguntade, Agbakoba, others seek autonomy for judiciary

Justice Okoro

20 23

Justice Ademola

Judges’ arrest: Afe Babalola, Nwabueze, others in rescue mission For one week now, major stakeholders have stepped up efforts to salvage whta is left of the third arm of government following the arrest of senior judges by the Department of State Services (DSS) on allegations of bribery and corruption. FOLUSO OGUNMODEDE captures moves by foremost and oldest Senior Advocates of Nigeria, Chief Afe Babalola and Professor Ben Nwabueze to rescue the judiciary

ajor stakeholders in the nation’s judiciary have been battling to rescue the third arm of government-judiciary from total collapse following allegations of bribery and corruption which shook its foundation last week. Until last week, judges were treated like gods. But the tide has since changed as they were hauled into detention like common criminals by agency that lacks powers to investigate corruption. But like a holocaust, judiciary was hit by allegations of bribery and corruption. The holocaust has put the

FOLUSO OGUNMODEDE

deputy group news editor/ JUDICIARY coordinator foluso.ogunmodede@newtelegraphonline.com

third arm of government in public glare as seven judges including two Supreme Court Justices were arrested by the Department of Security Services (DSS). They were accused of stashing millions of various denominations both in hard and local currencies being proceeds of corruption to pervert the course of justice in their various jurisdictions. Although many had seen the DSS’ search and invasion on the premises of judges as a sad development in the nation’s legal history by what the secret police described as inevitable circumstances, no Judges had ever been subjected to a search and arrest from the Colonial period until last week. This was not because there was any law protecting judges’ immunity against arrest and criminal prosecution. Rather it was based on a convention arising from the need to respect the dignity and sanctity of the Judiciary. In other words, the practice of respect for members of the Judiciary was a convention, not a binding rule of law. Members of the Judiciary do not enjoy immunity against searches and arrests under any law hence the suste-

nance of sanctity of the person, office and residence of a judge however depended on the continued maintenance by the judge of decorum, dignity, honesty and integrity. This position, according to the Chairman of Presidential Advisory Committee on Anti-Corruption, Professor Itsey Sagay was nothing but a “practice of respect for members of the Judiciary was a convention, not a binding rule of law.” Last Thursday, DSS has also confirmed that more Supreme Court Justices will be arrested for alleged corruption. Already, two of them; Justices Inyang Okoro and Sylvester Ngwuta were arrested by the secret police last week. Others comprising of Federal High Court judges are Justices Adeniyi Ademola, of the Abuja division; Kabir Auta of the Kano High Court; Muazu Pindiga of the Gombe High Court, Mohammed Tsamiya of the Court of Appeal in Ilorin and the Chief Judge of Enugu State, I. A. Umezulike. Justices Umezulike, Auta, and Tsamiya had earlier been recommended for sack by the National Judicial Council (NJC) for alleged corrupt activities. Justices Okoro and Ngwuta were arrested in connection with an alleged bribery offered by Governor Nyesom Wike of Rivers State. Ngwuta allegedly travelled to Qatar to pick up bribes that he shared with Okoro and some others. It was further alleged that large sum of money was recovered in both Justices Ngwuta and Okoro residents and documents of estates worth over N1.5 billion were recovered.

At the residence of Justice Ademola, the DSS said it recovered at least $400, 000 and N39 million in cash, in addition to documents of landed property belonging to the federal judge even though the judges were later admitted to bail on self-recognizance and asked to be reporting to the headquarters of the service in Abuja. DSS operatives last week embarked on what they described as a sting operation when they surrounded the judges’ houses for hours before they eventually broke in at about 1am on October 8 and after searching the houses, the security agents eventually took Justice Ademola away at about 5am. Also in Gombe, DSS arrested Justice Muazu Pindiga, who was the first chairman of the Rivers State Election Petition Tribunal, before he was changed midway into the hearing of the dispute arising from the 2015 governorship election in the state. However, though refuted, Telegraph law had scooped that the raid on both Ademola and Dimgba’s residents was in connection with some of the judgements the judges had pronounced against the service. The source noted that the service has not been pleased with some of the pronouncements of the judges. According to the source, “the DSS is saddened that after securing arrest and charging suspects to courts, the judges will frustrate the matter through their unfavourable pronouncements. The DSS is not comfortable with their vocal criticism for violating rights of persons detained at its facility and making it looks bad in the face of Nigerians.” It was further revealed that one of CONTINUED ON PAGE 22

20 Law|INTERVIEW

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Ojo: Why constitution amendment’ll Mr Adekunle Ojo is a former Vice-President of the Nigerian Bar Association (NBA). In this interview with AKEEM NAFIU, he bares his mind on budget padding, Jibrin’s allegation and why constitution amendment will address separatist’s grievances

What is your assessment of the 8th National Assembly since its inauguration? I think for practical purposes, aside from the appropriation bill which they passed, I have not really seen much coming from both chambers. If there is anything I have noticed over the months since the National Assembly was inaugurated, it is turmoil, chaos and uncertainty that have pervaded the air. Besides, there are some credibility problems with regards to the leadership of both chambers. The senate president and his deputy are facing criminal charges in court. The duo came in a manner that was not too clear, so we were told by the police, probably after some investigations. However, they were presumed innocent until the contrary is proven. But as it were, there are indications that the leadership of the Senate is embroiled in some credibility problems and in saner climes, the expectation is that these people should have resigned. They should not be seen as hanging to power at all cost. Look at what happened recently in the United Kingdom where the prime minister had to resign from office following Britain’s exit from the European Union. That is how it should be. In several other countries, when such allegations as we currently have it in Nigeria were made, people would have stepped down so as not to be seen as interfering with the investigation process. But ours is a bit different. Look at what is currently happening at the House of Representatives where the Chairman of the Appropriation Committee, Abdulmumin Jibrin, has accused principal officers of the house of padding the 2016 budget to the tune of N40billion. Whatever anybody want to say, padding is stuffing, wadding. It means evil addition indicating that it is not the way you gave it to me that I am giving it back to you. It is as simple as that. It is akin to ballot stuffing. I believed God was on the people’s side and that was why the man came out and said this is what has been happening. As it were, Jibrin has said without mincing words that this is what we did and I think strongly that these allegations should be investigated. As it is now, where does this leaves us? Primarily, I think the executive has a very big role to play. That is the truth. The executive is in control of policing and these entire allegations borders on criminal conducts and as such there must be political will to tackle some of these issues. This is because the executive cannot continue to stay aloof. If we have credibility problems with the legislative arm, it will surely affect our democracy negatively. This is because the survival of our democracy is a function of the well-being of the legislature. Quite often, there would always be somebody running the executive arm. The same thing applies to the judiciary. But, what we don’t have most of the time is the legisla-

ture. If it is the same parliament that is creating all these problems, then, there must be checks and balances. That is why we have separation of powers. The parliamentarians cannot be a judge in their cause. They can’t investigate and make laws that would bind the person they have investigated. That is why by now the executive arm ought to have come in and investigate these lawmakers. There must be political will to investigate them and the outcome of any investigation conducted must be made known to the public. The silence of the executive on this issue is sending a wrong signal about the anti-graft war of the government and people might think it is just a ruse. Of course, the silence of the executive on the matter is strange, N40billion is quite enormous. The issue also presents an opportunity for this government to curb this undue influence on budgeting in this country. The executive only sends the budget to the legislature for appropriation by looking at the figures in it. It is not within the powers of the legislature to add to the figures already prepared by the executive. I think the truth has to be said here. The lawmakers are only permitted to reduce the figures but they cannot add to it. What then is padding in this regards? Ojo So, padding by my own understanding is criminal and by extension it means forgery and extensive fraud. Then, this issue of constituency project is part of the hypocrisy that we are talking about in this country. What has a member of the National Assembly got to do with carrying out constituency project? What has lawmaking got to do with buying generators for people? What has it got to do with donating monies on the street? What has it got to do with buying exercise books for students? I can tell you without mincing words that it does not happen like that in better climes. I have seen members of the House of Commons in the United Kingdom before, we have met inside train and bus and they talk just like every other person. They know that they are only covered by immunity while within the house doing the job of lawmaking and contributing on the floor. They also believe that the only thing that they owe their constituencies is to protect their interests and not to come and sink boreholes or build classrooms. In Nigeria, you will hear of a lawmaker sending people abroad for schooling. How does that translate to the general benefit of the people of that constituency? Of course, it has not. It is the lawmaker that was involved in the selection process and it is only those that were selected that will benefit and not the entire people of the area. So, I want to urge that we do away with making provisions for constituency allowances for lawmakers. It is a fraud. They should only be concerned about the business of

lawmaking. I also believe that running the two chambers is a waste of money because it is bogus and large. It is high time we look at having only just one chamber. We can do away with the Senate and allow the House of Representatives to remain. We should also make their job part-time. This is what we have in the second republic. As it is now, most of these lawmakers in both chambers are usually absent, they only ensure they come around within the prescribed number of days for them to sit. Most of them were bench warmers who had contributed nothing since coming on board. The person that is representing me at the House of Representatives had not contributed anything meaningful and he has not even sponsored any bill since coming on board. So, when you look at all of these things added together, you will realize that it’s like a conduit pipe. The country has wasted a lot of money on these people and it has to stop. What is your take on the probe of Hon. Abdulmumin Jibrin’s padding allegations by the House Committee on Ethics? I think the right of the Ethics Committee to sit and consider petitions against any of the members is not in doubt. But the question is, giving the timing, is it auspicious? Is it proper and good enough to launch such a probe at this material time? What messages are they sending across? I think the message that they were sending across is that if anyone had hitherto ascribed any credibility to the members of the House of Representatives, such person should have a

rethink. It is apparent that they lack anything that you can call integrity. Otherwise, for a good set of people, they should have asked the four principal officers mentioned in the criminal act of padding the budget to step aside. It is now clear that a good number of these people are oblivious of why they are in that house. They should allow good reasoning to prevail and allow an external body to conduct a thorough investigation into Jibrin’s allegations. This is because the allegations border on crime and the House of Representatives is not empowered to investigate crime. They should allow the police and other investigative agencies carry out their work and come up with a verdict on the issue. Besides, it is unfortunate that we have not heard anything on the investigation being carried out by the anti-graft agencies. But I think they should be given a benefit of doubt. I was made to understand that the Presidential Advisory Committee on Anti-Corruption led by Prof. Itsa Sagay is already looking into it. If this is so, it’s a good idea. But I want to urge that they should come into a quick resolution of all issues surrounding the allegations. The rule that allows Jibrin to be suspended by six months is a house rule that is obnoxious to a good thinking person. It’s all a ploy to silence the man and sweep the issue under the carpet. With this action, the house has denied members of Jibrin’s constituency the right to be represented at the House of Representatives. It is only when a member has been found to commit a criminal offence that he or she can be suspended by the house.

Law|INTERVIEW 21

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

resolve IPOB, others’ grievances whole North, who do you think will be the presidential candidate for the PDP? Who is the likely APC’s presidential candidate that will take over from Buhari? The fact is that none of the gladiators you can think of as at today has Buhari’s capabilities. That is why some of us believe that these four years of Muhammadu Buhari should be used to put Nigeria on the right path. But with the way we are now, we are not yet there. I believe God that things would soon take shape in the country.

This is not the case with Jibrin. What can you say about a process of recalling a lawmaker by his or her Constituency? When you look at the level of docility being exhibited by these lawmakers, it is something that calls for concern. Though there are still a few of them that know their onions, I will not be asking that all of them should be recalled. But there are a number of reasons why a lawmaker may be recalled by his constituency. They were all premised on lack of good representation. The process of recall is so tedious and I think something should be done so that people can take advantage of it to effect the necessary change with regards to their representatives. Be that as it may, let us even assume that a docile legislator is allowed to spend his four years at the house, he can subsequently be removed through the ballot. How much of a belief do you have in Buhari’s government to take Nigeria out of the woods? I have a lot of believe in this government despite all that we are facing at the moment. If Buhari as a person fails, we may not have that leader that will take us to the expected destination again. I still have a lot of hope in this government. Looking at Nigerians and the way we think, after President Buhari, who do you think will take over? Look at the

What is your take on the assertion by President Muhammadu Buhari that Nigeria’s sovereignty is not negotiable even amidst agitations by various ethnic groups in the country? Well, I have come to one understanding about life that almost everything in life can be negotiated. I did not agree with the president that Nigeria’s sovereignty is not negotiable. That will be too rigid. But I tell you without mincing words that there is no father that will allow his leadership of the house to be called to question by any of his children. The same thing with the leader of a country. No president will want his country to be divided while he holds sway. What we expect is for the government to come up with a referendum to seek people’s opinion about these issues that led to the agitations. I also think that those people that really want to break away from Nigeria should know how to go about it. Nigeria’s sovereignty is negotiable because there is no way you will keep a man under oppression and expect him not to talk. He would never keep quiet. I also agree with the vice president that the immediate need of the country is to diversify the economy. This is also part of restructuring. There is nothing wrong in people making demands from the government but we need not resolve to violence. The National Assembly members if not because of their docility can even come in and deliberate on some of the issues raised by these agitators. They can deliberate on how we have been living together and see what is needed to be done to ensure we remain one as a people. The lawmakers should go back to their constituencies and get feedback from their people on the way forward. We can also address all these agitations by amending the Constitution. This must also be subjected to referendum in order to make it people oriented. What is your appraisal of the Freedom of Information Act 2011? The law is not as effective as it should be. But, we would not say that it has not been enforced under certain circumstances where those in charge of information gave it out when they believe that it would not be inimical. If you recollect, when there were agitations over whether or not, the Chief of Army Staff, General Buratai, owns property outside the shores of Nigeria, a lawyer just applied for information on the issue based on the Freedom of Information Act and he was granted the desired

Executive cannot continue to stay aloof. If we have credibility problems with the legislative arm, it will surely affect our democracy negatively

piece of information by the army. However, there were so many instances where requests were made but never granted by those in charge. Besides, the secrecy that has always been the bane of the civil service has also not left the place. Civil servants still find it difficult to divulge information to people. People were seeking for information because of lack of probity and accountability in this clime. In decent societies, you don’t even need to start seeking information. This is because the processes are already there. These processes on their own will give a step by step account of everything. For instance, in a bidding process, you already know what to do. You already know how much to pay for the process and where you are paying the money to. The transparency is almost without fault in such countries unlike what attains in Nigeria where all manner of atrocities are committed with pleasure. So, when the process is transparent, the task of seeking for information will be easy and almost effortless. But people should not lose hope, they should keep on seeking information and if they are denied, they have every right to go to court. Then, let everyone that feels he need information go for it. A good number of Nigerians are too timid to ask for information. What I also found out was that the lack of awareness about the Act might be due to the high illiteracy level among our people and the fact that most Nigerians cannot afford to spend their hard earned money in search of information. At times, you might need to spend money to acquire certain information but most of the time, it is either that it is not affordable or there is no money to spend. Besides, the scarcity of public interest oriented lawyers does not help matters. What reforms would you like to see in the justice sector? When we look at the justice sector, there is a tendency to view it from the standpoint of the Administration of Criminal Justice Act. I think that is where the majority of public interests are. The rights of many people are being infringed upon because of the way we practice our law and our level of understanding of it. For instance, if you look at our pre-trial release system which a lot of people called bail, you will find out that it is nothing to write home about. Most times, bail conditions are not only not attainable but also unreasonable. If someone was arraigned for stealing and the court said he must present a level 17 public servant as a surety, where will he get that? How will every Tom, Dick and Harry lay their hands on a level 17 officer? We are talking about permanent secretaries here for God’s sake. So, I expect something to be done in this regard. I want to say here that the best surety anyone standing trial can get is his relation. Besides, something has to be done about judges and magistrates writing in long hand. Then, the remuneration of court registrars should be one that can attract best brains to the job. This is supposed to be a career job and it is structured around offering assistance to the person on the Bench. In most countries of the world, these people write judgement for the judges to look at. So,

all the judge needs to do is to listen. They also take notes of proceedings and at the end their notes will be compared with that of the judge. They also do a lot of research for the judges. I am also looking at a situation where all the Justices of Supreme Court will all sit as a panel on cases at the same time. Do you know that if they all sit at the same time, they can hear so many cases and get them disposed promptly? This is what happens in America and South Africa. That is the full panel. With this practice, it will be difficult for litigants to influence or sway the mind of court in their favour. Then, there will be more objectivity in the reasoning of the court when we have all the Justices of Supreme Court sitting at once. Another reform that I expect in the justice sector is the splitting of the offices of the Attorney-General of the Federation and Minister of Justice. The same thing should be applicable to all Nigeria states. I could remember there was a time the Attorney-General in one of the states in America took the governor to court over an issue and he won the case. Do you think that can happen in Nigeria? So, something should be done in this regard. The National Judicial Council (NJC) should also be more alive to its responsibilities of monitoring the activities of those on the Bench so that they don’t run foul of the law. The CJN or the Chief Judge of a state can also put up committee in this regard to monitor all that is going on within the confines of our courts. Something also has to be done about the delay usually experienced in the dispensation of justice. Also, most of our laws that are obsolete should be reviewed. Is it in order to re-open a criminal trial that has already been decided by the court in favour of a defendant? If a case has been concluded, in the sense that it has been heard, witnesses were called and judgement entered by the court, such cases can only be appealed. It cannot be re-opened. But then, let me say this, if a man was alleged to have killed and the case was struck out by the court for lack of diligent prosecution, such a case can still be re-opened for a retrial by the court. The prosecution can come up with fresh evidence that may be used in prosecuting the case afresh. The Economic and Financial Crimes Commission (EFCC) has been urged to launch a probe into the activities of Federal Government’s institutions like the CBN, NNPC and others. How feasible is this call? Well, it’s a possibility. Where you have a self-accounting and self-examining system with institutions inbuilt into it, then, such a probe is attainable. If the EFCC is restricted to the probe of individuals and institutions that has nothing to do with government, then, certain facts about government’s institutions and parastatals will be hidden forever. Even Section 308 allows for the probe of a governor while in office despite the fact that he can only be tried after he has left office. So, in my own view, EFCC can actually investigate every public officers and government institutions.

22 Law

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Babalola, Nwabueze, Sagay, others differ on judges’ arrest C O N T I N U E D F R O M PA G E 1 9

the reasons why DSS ignored court orders was because such orders were not genuinely obtained, but rather purchased. “Some of the judgements are questionable. The DSS has already commenced investigation to establish a link between the judges handling the matter and the defendants as the case may be. That is one reason why the secret service has refused to obey some of the orders, because we know that they are not obtained on the grounds of justice,” the source said. As that was not enough, the DSS had put all measures in place to go after eight more judges, senior lawyers, retired judges and politicians who were believed to be links between the judges and parties. The Service had earlier place a web on all the calls between some judges and senior lawyers who had been acting as conduit pipes to collect bribe for them. This has made the secret service to have all the conversations that took place at different times between different judges and some senior lawyers. Also, it was gathered that the service due to its lack of confidence in the judiciary is working towards establishing special court which will try the arrested judges and others that had been penciled down for arrest. The advisory committee on anticorruption headed by Professor Itsey Sagay (SAN) is to facilitate the setting up of the committee. “The service knows that some people have been serving as a courier of the bribe for the judges. But their days are numbered. The service has gotten their details and there is enough evidence against them. They shall be arrested and brought to book. We know that some retired judges are now serving as consultants to sitting judges. They meet with parties who are having cases before a judge and they negotiate. These retired judges also serve as a courier of the bribe. The service is also aware that some of the senior lawyers which their list has been compiled already serve as middlemen between parties and the judges. Also politicians are involved. None of them will go unpunished”, the source stated. The DSS had earlier identified the perceived corruption in the judiciary as reason it did not obey some of the orders emanated from the court. Chief Justice of Nigeria (CJN), Justice Mahmoud Mohammed described his colleagues’ arrest as sad and condemnable. Nevertheless, Justice Mohammed had continued to appeal for calm as he said “it is indeed very saddened and deeply regrettable, the distressing and unfortunate incident which occurred on Friday 7 October and Sunday 8 October 2016. “However, I must ask all Nigerians to remain calm and prayerful as an emergency meeting of the National Judicial Council will comprehensively look into the matter. “I must express my sincere appreciation to the executive of the Nigerian Bar Association ably led by the President, Abubakar Mahmoud, SAN, and indeed all members of the legal professions, for their prompt action and continued support.”

General of the Federation, Wilson v. Attorney General of Bendel State – all of which were decisions against various Military Governments during the reign of the military. Because of the superior moral authority of the Justices who presided over those cases, their fearsome reputation as men of steely integrity and honour, those judgments were obeyed without question. Even the military were afraid of these men of uncompromising integrity. It was unthinkable that the DSS or its equivalent in the days could invite them for questioning, not to talk of searching and arrest. Their strong moral armour protected then against executive adventures and gave then real power over the other arms of government.”

Babalola

But major stakeholders in justice administration are worried. Their worry is that the sanctity of the person, office and residence and dignity which immune judges from arrest had been destroyed. Although the stakeholders admitted that there was the need to rid the Bench of corruption. They viewed the arrest and invasion by the DSS of the judges’ homes as barbaric and the height of degrading ever visited on the judiciary since independence. The stakeholders including older Senior Advocates of Nigeria were unhappy although the chairman of the Presidential Committee on Anti-corruption, Professor Sagay and the nation’s Justice Minister and Attorney-General, Malam Abubakar Malami, both Senior Advocates held different views. For instance, Sagay backed the DSS arrest of the judges. Sagay said: “The searches of the premises of judges by the DSS, is a sad development in our legal history brought about by inevitable circumstances. Although no Judges had ever been subjected to search of premises and arrest, from the Colonial period until recently, this was not because there was any law protecting judges’ immunity against arrest and criminal prosecution. Rather it was based on a convention arising from the need to respect the dignity and sanctity of the Judiciary. “In other words, the practice of respect for members of the Judiciary was a convention, not a binding rule of law. Members of the Judiciary do not enjoy immunity against searches, and arrests under any law. Therefore the sustenance of sanctity of the person, office and residence of a Judge depended on the continued maintenance by the Judge of decorum, dignity, honesty and integrity. “The explosive and expanding epidemic of judicial corruption, which has taken an alarming character since the 2007 elections, has totally overturned the culture of respect and for the judiciary and brought the revered institution into disrepute and ignominy. “The epic and corrosive nature of the problem has made the system expressly laid down for dealing with judicial indiscipline, that is, the NJC system, totally ineffective. The level of moral depravity and the enor-

To disgrace a judge, as by a degrading treatment, is not just the disgraceful treatment of an individual; it brings the entire judiciary, as the third organ of government into disrepute

Nwabueze

mous number of culprits engaged in aggressive or rampaging corruption was just too much for the orthodox system of discipline to deal with. The amount of raw cash recovered in the process of the DSS searches is mind boggling. We therefore have a situation in which a deadly disease was threatening the very existence of democracy and the rule of law. “In other words, ultimately, the very foundation of our democracy was in danger of collapsing. For if elections are contested in the manner of a bloody conflict in which the victor is like a military conqueror, is then endorsed by the Judiciary, then democracy has been abandoned in favour of jungle culture where life will be nasty brutish and short. The endorsement of electoral victories, by violence, fraud and rigging is an abandonment of civilization and a descent into anarchy, disorder leading to a dysfunctional society. The question must be: do we take drastic and unprecedented steps to sanitize the judiciary and save the institution from those who are prepared to drag it and our democracy down for filthy lucre? Or do we twiddle our fingers in despair and let the shameful erosion and retrogression of a once famous and revered institution to go on? “This is a country that once had one of the greatest judiciaries in the world. It now seems unbelievable that our judicial Benches were once graced by legendary figures, like J.I.C. Taylor, Louis Mbanefo, Joseph Adefarasin, Adetokunboh Ademola, Akinola Aguda, Anthony Aniagolu, Kayode Eso, Mohammed Bello, Chukwuweike Idigbe, Andrews Otutu Obaseki, Augustine Nnamani, Adolphos KaribiWhyte and Chukwudifu Oputa. “Between 1980 and 1990, we had an outstanding group of Jurists in the Supreme Court who created the golden age of the Judiciary. What has happened between that dreamlike era and now is a rapid descent into the world of mammon, where cash dictates justice. With that degeneration of our judicial standards, our judicial ‘gods’ have descended from mount Olympus and joined the ranks of ordinary men and thus are suffering the fate of ordinary men. The Justices of the golden age decided cases like Governor of Lagos State v. Ojukwu, Bello v. Attorney-General of Oyo State., Garba v. Attorney-General of the Federation, Obeya Memorial Hospital v. Attorney-

Malami The Justice Minister believes no one is above the law, saying that the judges were arrested on reasonable suspicion as no judge was above the law or had constitutional immunity from being arrested or investigated. He said: “The fundamental consideration is whether there is an allegation of the commission of a crime; whether there is the need for investigation and whether the relevant provisions of the law and, indeed, all circumstances, as provided in the Administration of Criminal Justice Act are put into consideration in our conduct as regard the fight against corruption. “The bottom line is that we have a responsibility to fight corruption. Corruption is a crime and nobody, regardless of how highly placed is exempted as far as issues that border on crimes and criminalities are concerned. “The limited exceptions, as we know constitutionally, are the exceptions of immunity. And to the best of my knowledge, those exceptions do not apply to investigation. “For those that are conferred with the immunity, the right to investigate has not been taken away constitutionally. “So, I think the framework and the circumstances within which we are operating are clearly whether there exists the right to investigate or not, and whether the action borders on criminality. “Once crimes and criminality are concerned, nobody is an exception. I think the undertone should be exclusively the consideration of the existence of a prima facie case; existence of reasonable grounds for suspicion of commission of a crime. “And if there are, no member of the legislature, judiciary and executive can definitely be exempted from investigation. I think where we are now is the point of investigation and that is what is taking place.” But two of the Nigeria’s oldest Senior Advocates, Professor Ben Nwabueze and Chief Afe Babalola disagreed with Malami and Sagay. Nwabueze “Whilst judges are not granted immunity from criminal process, the vital and sacrosanct role of the judiciary in governance entitles them to great respect over and above that accorded to the ordinary citizens. “To disgrace a judge, as by a degrading treatment, is not just the disgraceful treatment of an individual; it brings the entire judiciary, as the third C O N T I N U E D O N PA G E 2 4

Law|News 23

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Oguntade, Agbakoba, others seek autonomy for judiciary Foluso Ogunmodede

ajor stakeholders in justice administration, at the weekend rose from an emergency meeting and decried harassment of judges and underfunding of the judiciary by the executive. They said it may spell the doom for good governance and rule of law should it continue unchecked. It was at the Law Week of the Lagos branch of the Nigerian Bar Association (NBA), where a former Justice of the Supreme Court, Justice George Adesola Oguntade and others painted a gloomy future of the judiciary unless the ongoing humiliation of the judiciary was put to a halt. Oguntade, who shared his experience while on the Supreme Court Bench said some Justices faced a series of harassments each time they dare the executive in their pronouncements, saying such would continue until the judiciary became independent. According to him, judges who dared to pronounce against the executive arm of government were often marked as targets for harassment or denial of prequisite of office, urging judges to always allow their “conscience must at times be your key compass,” insisting that judicial independence must not be sacrificed on the altar of pecuniary benefits. Dr. Olisa Agbakoba (SAN), in a keynote said that the judiciary which had been under siege from the executive arm, expressing worry that the official courtesies being extended to the executive by the judiciary had not been reciprocated. it is sad that the executive had not shown any willingness for a paradigm shift in its relationship with the judiciary. Citing gross under-funding of the judiciary as yet another sign that the executive arm was paying lip-service to its commitment to reform the justice sector, Agbakoba said he had launched legal action to assert funding autonomy for the judiciary and compel the Federal Government to hands-off financial matters as it concerns the judiciary. Another Senior Advocate of Nigeria, Chief Joe-Kyari Gadzama said that while judicial autonomy could not be divorced from adequate remuneration

R-L: Chief Joe-Kyari Gadzama (SAN), Hon. Justice Kazeem Alogba, Hon. Justice George Oguntade, Dr. Olisa Agbakoba (SAN) and Mr. Chijioke Okoli (SAN) at NBA Lagos Law Week

for judicial officers, the NBA must rise to the challenge of fighting for judicial independence. He decried poor funding of the judiciary, adding that while judges cannot speak for themselves, the NBA must fill this gap by spearheading the quest for judicial autonomy. Chief Emeka Ngige (SAN) decried the poor state of judges’ remuneration. He stated that only a few judges could boast of a roof over their heads after retirement, and canvassed for the appointment of ad-hoc judges to assist in decongesting the courts and fast-tracking justice delivery. Speaking on “Judiciary in an Emerging Economy, Challenges and Prospects,” Dr. Wale Babalakin (SAN) also expressed concern over the poor remuneration of judicial officers, describing as sad the declining status of the judiciary over the years. Babalakin said: “Where we are now is a melancholic decadence of a great institution.” He also decried the loss of values and lack of innovative ways of tackling issues prevalent within the judiciary, adding that “there have been no improvements; we still have unthinking responses to

severe problems. Have you related the solution to the problem?” Reflecting on the appointment of judges, Babalakin warned that Nigeria’s judiciary would remain the same until efforts were made to attract the best individuals to the Bench. “Our court system will work better when judges have superior intellect than even the best lawyers” he said, adding that a new method had to be found for the composition of the National Judicial Council. While Mr. Norrison Quakers (SAN) and Mr. Chijioke Okoli (SAN) harped on the need for meaningful judicial reform, Mr. Kemi Balogun (SAN) pushed that lawyers who deliberately abuse the judicial process by employing delay tactics should have their practice licence withdrawn. Balogun, who also doubled as Chairman of the 2016 Law Week Committee, said that the theme of the Law Week “was especially germane in light of perceived assault on judicial independence and the deleterious impact such anomaly may have on our nascent democracy.” Speaking on “Financial Due Diligence and Anti-Bribery Laws,” Prof. Bolaji

Okada rider, two others jailed 21 years for robbery John Chikezie

ustice Oluwatoyin Ipaye of an Ikeja High Court has sentenced an okada rider, Akeem Ayoade, and two others to 21 years imprisonment for robbing housewife of N5,000. The trio, who were previously charged for armed robbery, were all found guilty and sentenced for conspiracy to robbery, since there was no substantial evidence to prove the charge of armed robbery. 22-year old Ayoade and his accomplice,Wasiu Azeez, 27, and Adelani Jamiu, 33, were convicted on a two count charge of conspiracy to robbery contrary to section 297 of the criminal law No. 11, Laws

of Lagos State, 2011. The trio committed the crime on January 25, 2012 at Pottri Bus stop Ejigbo, Lagos in the Ikeja judicial division. According to the charge sheet, the convicts did rob Mrs Ayinke Akinremi of her handbag containing N5,540 and a Nokia handset. The court, however, revealed that the prosecution, A.A George, has proved beyond reasonable doubt, the case of conspiracy to robbery, which was carried out by using a motorcycle, especially with the facial recognition of the convicts by the victim. However, in his allocutus, the defence lawyer, Worer Obuagbaka, appealed for leniency stating that the trio, who were first offenders, as

young men, could still contribute effectively to the growth and development of the country. “The trio are still young, energetic men and first offenders, and my plea to the court is to tamper justice with mercy,” he noted. Justice Ipaye, after given a keen consideration to the plea, acknowledged the truth inherent in the counsel’s plea said that the youthful age wasn’t an excuse for upholding crime. She further added that the punishment was meant to send a clear disciplinary message to would be offenders of the same age bracket. Justice Ipaye, however, convicted the trio and sentenced them to 21 years imprisonment each.

Owasanoye, Executive Secretary, Presidential Advisory Committee against Corruption, noted that while the NBA successfully challenged the SCUML as well as the Anti Money Laundering CFT Regulations for Designated NonFinancial Businesses and Professions in Nigeria of 2013 in a case filed against the Attorney-General of the Federal and CBN, his “key point of concern” is “the efficacy and efficiency of the internal mechanisms of the NBA to discipline its members who infringe on the hard and soft laws.” On his part, NBA Lagos Branch Chairman, Mr. Martin Ogunleye urged lawyers to save judicial time by shunning delay tactic, adding that “we have to be creative and understand our position in the current economic milieu.” Other topics tackled within the ambit of the theme include Emerging Trends in Copyright, Computer Software and Trademarks; Mergers, Acquisitions and Strategic Alliances: The Role of a Lawyer; The Cult of a Judge: Judicial Accountability in a Democratic Modern Society; Admissibility of Electronic Evidence: Matters Arising; Port Regulations and Infrastructure in Nigeria; Business Development in a changing Legal Market; Combating Money Laundering: The Roles of Lawyers and the Judiciary (Bar/ Bench Forum), and Is Advocacy Training an important Part of a Young Lawyer’s Development? (Young Lawyers Forum). The Mock Arbitration clinic was anchored by respected arbitrator, Mrs. Doyin Rhodes-Vivour in collaboration with the Chartered Institute of Arbitrators (UK) and the Lagos Court of Arbitration (LCA), while the N1.2 Billion fund raising dinner for the building of a befitting Bar Centre/Secretariat (“NBA LAGOS HOUSE”) was spearheaded by lawyer cum business mogul, Chief Dewunmi Ogunsanya (SAN). Other jurists and speakers at the event were Hon. Justice E. Adeniyi-Adeogo Adebajo, Hon. Justice Alaba OmolayeAjileye, Mr. Tayo Oyetibo (SAN), Mr. Kemi Pinheiro (SAN), Mr. Osaro Eghobamien (SAN), Mr. Jelili Abiodun Owonikoko (SAN), Ms. Funke Aboyade (SAN), Dr. Dapo Olanipekun (SAN), Mrs. Funke Agbor (SAN), Chief Tony Okoroji and former NBA Lagos Branch Chairman, Mr. Alex Muoka to name a few.

Police arraign two over N6.7m car theft Akeem Nafiu

he police have arraigned two men before Magistrate O. Ajayi of an Igbosere Magistrate’s Court in Lagos for allegedly stealing a car valued at N6.7million. The duo of Olamide Bello (32) and Adebola David (28) are facing a four count charge of conspiracy and stealing. They were alleged to have committed the offence between September 3 and 9, at Oniru Market, Lekki in Lagos. Police prosecutor, Sergeant Tubi Olajide, told the court that the defendants conspired with others who are yet to be found to commit the alleged offence. He alleged that the defendants stole a Honda Civic Saloon Car with registration No. FD 304 LSR valued at N6.7 million, property of a Lagos housewife, Fatimat Oseni.

The prosecutor also alleged that Bello, with intent to defraud, falsely presented himself as Olamide Bello, when his real name was Kehinde Bello. Olajide, said that the duo and others still being sought, wilfully damaged the igination key of the Honda Civic Saloon Car. According to the prosecutor the offence committed was punishable under Sections 409, 285 (1), 378 (1) and 312 of the criminal law of Lagos State 2011. However the defendants pleaded not guilty to the charge against them. Consequently, Magistrate Ajayi, granted them bail in the sum of N250,000 each with two sureties in like sum. One of the sureties, according to the magistrate, must be a blood relation and have a reasonable means of livelihood. The case has been adjourned to November 27, for mention.

24 Law|news

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Group faults EFCC’s ‘media trial’ of Patience Jonathan John Chikezie

ays after Human Rights Defenders Advocacy Centre Group (HRDACG), demanded an investigation of former First Lady, Mrs. Patience Jonathan over her alleged financial activities while in office, another group at the weekend has described the planned probe of the former First Lady as ‘malicious’. The group - the Integrity Friends For Truth And Peace Initiative (IFFTAPI), said the planned probe of the former First Lady by the Economic and Financial Crimes Commission (EFCC) was not only malicious but also trial by media. IFFTAPI said it was dismayed by the EFCC’s “purported anti-corruption

fight and trial by media of the former First Lady on cooked up” allegations of corruption. EFCC had on October 12 said it was set to launch a full scale investigation on Mrs. Jonathan and others mentioned in a petition by HRDACG with a view to bringing her and others to trial. Its official and deputy director of operations, Mr. IIiyasu Kwarbai said “we’re investigating Patience Jonathan and if she’s found wanting, she would not go free.” But IFFTAPI in a release said that although it would continue to support genuine anti-corruption war in accordance with the rule of law, the EFCC’s planned trial of Patience Jonathan was a malicious one. It reads: “The Integrity Group has and will continu-

Patience

ally support a genuine anticorruption war subject to the rule of law, equity and good conscience based on international best practices and standards. ‘Our findings show that Patience Jonathan as of right through the court, claims monies in her personal account in the name Patience Jonathan which was initially in a card bearing account under Pluto Properties Ltd including monies belonging to her

late mother in Trans Ocean Properties and Seagate Properties Limited respectively which totals a little below ten million dollars all in Skye Bank which were opened by their former aide, Mr. Waripamo Dudafa through these companies allegedly owned by him. ‘Whereas Patience Jonathan had filed all relevant document to harmonize all accounts to her personal name about two years ago with Skye Bank was

debited from the three accounts to the tone of three hundred thousand Dollars for this purpose, yet for sinister reasons that Skye Bank is yet to substantiate, it failed to completely regularize the said details and also failed to inform Patience Jonathan of a subsequent EFCC caveat freezing the account. ‘For the records, no Nigerian under any law including Patience Jonathan is under any obligation to explain how he/she made his/her money. ‘Thus no law in Nigeria limits the amount of money anybody should own. Also no law in Nigeria criminalizes the ownership of money no matter the amount involved. ‘That the cumulative value of the monies in the Skye Bank account that Mrs. Jonathan claims is

Lawyers in defence of judiciary

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

organ of government, the Third Estate of the Realm, into disrepute and undermines its credibility in the eyes of the public. “It diminishes our country, and all of us. The matter therefore counsels and demands cautious handling. “We are in a constitutional democracy, not a military dictatorship, and the law must be respected and obeyed in the way the affairs of the country are handled, including the handling of the fight against corruption which we all wholeheartedly support.” Afe Babalola “I am particularly saddened by the attack. How can they be treated like criminals? The fact that the DSS released the judges on the second day showed that they did not evade arrest, why should they then harassed and humiliated them in the first instance? “It is a trite law that process of the court can’t be served after 7pm. Even if the DSS had the arrest warrant, they should not have gone on midnight raid of the houses of the judges. “The NJC has the power to promote, appoint and discipline judges, this was done to ensure independence of that arm. So, I expect them to have approached the NJC. How can you arrest a sitting Supreme Court Justice and took him to magistrate court for trial? That could only be done after they have been removed.” Dele Adesina My position remains that it isn’t appropriate to generalise acquisition- which means it’s inappropriate to say that the Nigerian judiciary is entirely corrupt. This is simply because that statement leaves nobody as an exception, but rather points accusing fingers on the whole system. Hence, it forms a total write-off on the whole institution. However, those individuals who have been found culpable for attempting to tarnish the image of the institution should be eradicated. This has always been my own strong position. I really don’t have any problem against the objective to which the DSS operated. The basic issue is that the government or authorities should have followed due procedure or the rule of Law, especially the constitutionally recognised procedure while going after the officials of the judiciary.

Malami

The Constitution has established a body known as the National Judicial Council (NJC), which is meant to convey all complaint, including criminal allegations. This body would sit on these complaints in their capacity as the regulatory body to discipline the judges. And when that particular process of investigation is concluded, they dish out their sanctions; which can either be suspension or outright dismissal. Therefore, if it’s an outright dismissal on the basis of what has been done, they can also give a rider to that dismissal to hand the judge involved over to the police for prosecution. This particular action was carried out recently by the NJC in respect to one of the judges in Kano State- Kabiru Auta. While three of the judges were been disciplined, the NJC specifically ordered that the former judge be handed over to the police because of the allegation of corruption probe leveled against him. By the time a judge is disrobed, he/she becomes an ordinary citizen and can now face the full wrath of the law. However, the common grounds to the opinion of the leadership of the Bar is that, the leadership is not interested in covering up any culpable person, but rather, the ones found guilty should be subjected to the discipline established by the Law against judges and once that is achieved, have them transferred to the police. This makes it inherently difficult for them to lay claims of being a judge. Therefore, when such process is duly

Sagay

followed, then sanitization of the process becomes more effective. This would eliminate the idea of assumption created by most individuals that the system is being intimidated or that the independence of the Judiciary is being flouted. Ultimately, my emphasis here has its focal point on following the due processes written within the ambit of the Law, especially with the supremacy of the institution. It brings to bear that no one in the institution is above the law. But if the Law has ascertained a procedure regarding the disciplinary actions on judges, then that procedure must be adhered to and never ignored. After the disciplinary action has taken place, if such a judge is found guilty, then he/she should be charged to court. Lawal Pedro In view of this situation, we must first recognise that all men and women are equal before the law. We should bear in mind that the judiciary is an institution that must be revered and respected by all for the benefit of the entire country. This simply puts us in a severe position that we ought to carefully thread upon so that the hunter would someday not become the hunted. Invariably, the judiciary is one of the sections that hold the coercive power of the government. And if it is flouted or disregarded, how would the Nigerian citizen’s seek to obtain justice.

less than ten million dollars (below $10 million). The report credited to the EFCC that the monies were in excess of $30 million is completely false, malicious and misleading and this is deliberate. The EFCC is challenged to provide public evidence of its claim of $31 million lodged in Skye Bank in the aforementioned company names.’ The case came up at the Federal High Court, Ikoyi Lagos last Friday and Justice Babs Kuewum dismissed an application by Waripamo-Owei Emmanuel Dudafa, an aide to former President Goodluck Jonathan and one of his coaccused in an alleged $15.5 million fraud, Amajuoyi Azubuike Briggs, seeking to reverse the plea of guilty entered into by four firms who were charged with them.

Paul Ananaba My view is simple, judges can be arrested but not in the general manner in which criminals are cuffed. This is because they are referred to as “Honourable Judges”. When a particular judge is raided in such manner as done by the DSS, it does not only affect the image of the said judge but on the entire judiciary system. The consequences of such an event would force both the Nigerian citizens and other international bodies to uphold the idea that the entire institution is corrupt. This is the major area I believe the DSS should have considered before embarking on the arrest. Nobody is negating that an arrest cannot be done at midnight but it also connotes and creates an ugly insight that such judges might either be violent or even dangerous, especially in aspect of doors been broken and relatives incurring injuries on the process. It makes us think that they were resisting an arrest. So such operation gives a whole lot of negative impressions. Chief Niyi Akintola “The truth of the matter is that out there now, there are four sets of commentators over this issue. We have the ignorant, the emotional, the mischievous and the patriots. “The ignorant are dishing out falsehoods. They don’t know what they are talking about. “Let me talk about those set of commentators that are emotional. These ones have already convicted the judges on the platform of public opinions. Their action had demoralized all other judges and lawyers across the country. The major challenge now is how to wake up these demoralized judges from the stupor. If this is not done, the resultant effects will be anarchy. “The third set of commentators which is the mischievous group are the never-dowells in the legal profession who are envious of their colleagues at the Bar and on the Bench. They are the laid backs and they are not creative. They practice their law on the pages of newspapers and on the television. They condemn everybody. To them, no one is good except themselves. “Then, the fourth category of commentators is the patriots who will subject issues to critical analysis. “The Nigerian Bar Association (NBA) is not saying that corrupt judges should not be prosecuted but what it is saying is that due process must be followed.

MONDAY, october 17, 2016 NEW TELEGRAPH

Interview How to get Nigeria out of recession, by AfDB boss

Business

Money Line Concern mounts over interbank market liquidity

34 36

OVERWHELMING While reconciling the export records, the experts found mind-boggling discrepancies

L-R: Toyin Ojo, Chairperson, Association of Professional Women Bankers (APWB); Mojisola Bakare – Asieru, Group Head, Adeola Yusuf Corporate Banking, he Federal Government Sterling Bank Plc of Nigeria has launched and Chairperson, manhunt for government APWB Forum/ officials that connived Dinner and Adeola with International Oil Compa- Osho, Ist Assistant nies (IOCs) in the country to steal Secretary, APWB at the press briefing crude estimated at $12.7 billion, unveiling the agenda New Telegraph has learnt. for the forthcoming $5 billion being losses incured Forum / Dinner of by Nigeria to oil theft annually, the Association in according to Shell Petroleum De- Lagos. PHOTO: velopment Company Nigeria Plc. SULAIMAN HUSSAIN

Also, the government, through its anti-graft agency, Economic and Financial Crimes Commission (EFCC), is currently beaming its searchlight on top politicians and military officers in a bid to apprehend the alleged collaborators in the “mega oil theft racket.” The government had, in a new twist to the fight against crude theft, instituted a legal action against Shell, Chevron, Total, and Eni, alleging that the companies and 11 others did not declare $12.7 billion worth of Nigeria’s crude exported to the United States between 2011 and 2014. Currently, particular attention is being given to some top officials of the Department of Petroleum Resources (DPR), customs officials, naval officers and politicians considered to be dramatis personae in the whole racket. “The searchlight is on as we speak. Many names are on the

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

$12.7bn oil racket: FG trails IOCs’ abettors •Puts politicians, DPR, customs’ officials on watch-list watch list. That is all I can tell you for now,” a source at the EFCC told this newspaper. The government, further checks revealed, believed that concrete evidence could be garnered against the IOCs through this under-cover search for local collaborators in the alleged deal. “Yes our office received several letters from EFCC bordering on the need to clarify one thing or the other,” a top management staff of DPR said after his anonymity was guaranteed. He added: “I believe they are now reacting to age-long allegations that some of our officials have their hands soiled while discharging their statutory duties.” This investigation forms the second phase of the onslaught on alleged mega crude theft by the

IOCs. The first phase too was conducted quietly for the government by a consortium in the United States until concrete evidences of gross illicit crude export were gathered against the companies. The consortium of experts, checks by this newspaper showed, was able to track the global movements of Nigeria’s hydro-carbons including crude oil and gas with the main purposes of identifying the companies engaged in the practices that led to missing revenues from crude oil and gas exports sales to different parts of the world. While reconciling the export records from Nigeria, with the import records at ports in the United States of America, the experts found mind-boggling discrepancies.

$5 billion Being losses incured by Nigeria to oil theft annually, according to Shell Petroleum Development Company Nigeria Plc

CONTINUED ON PAGE 26

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Counsel to the government averred, for instance, that on January 6, 2013 the SPDC and its sister firm lifted crude oil using the vessel AUTHENTIC and shipped same to BP Oil Supply of 28301 Ferry Road, Warrenville, Illinois, USA at the port of Chester, Pennsylvania, United States of America. The shipment had bill of lading number ALMYSVDM161212A3. This particular shipment was not declared to the relevant authorities in Nigeria, resulting in the shortfall of 660,712 barrels of crude oil in the value of $72,678,320 as revenue to the government. On January 3, 2013, Shell and its surrogate company allegedly lifted crude oil that resulted in the shortfall of 979,031 barrels in

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Capital Market Editor

Forex, high lease rental stunts airlines’ growth

Air crash: Dana, others receive N.4bn claims from co-insurers

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Abdulwahab Isa Finance Editor

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Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Rates Dashboard INFLATION RATE Sept 2016 ..............................17.9% August 2016 ...........................17.6% July 2016...............................17.1%

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

EXCHANGE RATE (Parallel Market as at October 14)

USD . . . . . . . . . . . . . . . . . . . . . . N460 Pounds . . . . . . . . . . . . . . . . . . . N550 Euro . . . . . . . . . . . . . . . . . . . . . . N495

l Foreign Reserves – $24.187bn as at 13/10/2016

Source: CBN

EXCHANGE RATE (Interbank as at October 14)

USD . . . . . . . . . . . . . . . . . . . . . N305 Pounds . . . . . . . . . . . . . . . . . . . N371 Euro . . . . . . . . . . . . . . . . . . . . . N335

BUSINESS |news

MONDAY, october 17, 2016 NEW TELEGRAPH

Forex, high•NCAA lease rental stunt airlines’ growth wants forex priority for carriers ASTRONOMICAL

N18, 000 fares can’t support acquisition of $100 million airplane Wole Shadare

he over 40 per cent devaluation of Nigeria’s currency – the Naira coupled with the astronomical rise in the price of aircraft lease or outright purchase, have constrained Nigerian airline operators’ growth, New Telegraph has learnt. This was disclosed by the Director-General of Nige-

FG trails IOCs’ abettors

rian Civil Aviation Authority (NCAA), Capt Muhtar Usman, on the sideline during the visit by the House of Representatives Committee on Aviation in Lagos. The naira, which exchanged at the official and parallel markets at N197 and N230 per dollar six months ago before liberalization of the foreign exchange market, currently trades at about N315 and N460 per dollar. The NCAA boss said that scarcity and inability to access foreign exchange major headache of airlines, adding that most of their aircraft were on lease. He stated that for the carriers to remain afloat, the aviation industry must be given priority in accessing foreign exchange, stressing that airline business was heavily dollarised. For close to two years, rather

than expand their operations, the country’s carriers’ seem stagnant or at best shrinking in equipment size and cutting down on routes, as they are unable to acquire more airplanes, occasioned by the sharp reduction in passenger traffic. This is further compounded by the fact that 65 per cent of aircraft in operation in Nigeria are said to be on either wet or dry lease. A wet lease is a leasing arrangement whereby one airline (the lessor) provides an aircraft, complete crew, maintenance, and insurance (ACMI) to another airline or other type of business acting as a broker of air travel (the lessee), which pays by hours operated. The lessee provides fuel and covers airport fees, and any other duties, taxes, etc. The flight uses the flight number of

the lessee. A wet lease generally lasts 1–24 months; a shorter duration would be considered an ad hoc charter. A wet lease is typically utilised during peak traffic seasons or annual heavy maintenance checks, or to initiate new routes Aside Medview, which is rapidly expanding operations and acquired aircraft to service some of its international routes, others have limited themselves to the few operations because of the astronomical increase in lease agreements. Airlines lease aircraft from other airlines or leasing companies for two main reasons: to operate without the financial burden of buying them, and to provide temporary increase in capacity. Fifty per cent of global lessor set are based in Ireland and in

2015, over $120 billion of new commercial aircraft was delivered worldwide. GECAS is the largest aircraft lessor in the world by fleet size, according to the 2010 Airfinance Journal Operating Lessor Survey. Apart from the effect of depreciating naira against the United Stated dollar, Nigerian carriers find it extremely difficult to negotiate aircraft leases because of the perception that Nigerian operators renege on agreement and most times the lessee double the cost of lease of their equipment. An operator, who spoke to this newspaper under condition of anonymity, said for the new generation airplanes that are in high demand and popularly referred to as Next Gen (aircraft below 10 years), the lease has risen to $240,000 per month from $160,000.

CONTINUED FROM PAGE 25

the value of $107,693,410 On the December 14, 2014. Shell also lifted crude oil using the vessel EAGLE TUSCON and shipped same to Shell Deer Park of 5900 Texas 225,Deer Park, TX77536,USA at the port of Houston, Texas, United States of America with Bill of lading number AETK0909US14. The shipment was not declared to the relevant authorities, resulting in the shortfall of 499,048 barrels of crude oil in the value of $54,895,280 as revenue to the Federal Government. Besides, at three different times, Shell, with its allied company, was also alleged to have shipped crude on board EAGLE TUSCON, EAGLE SEVILLE, OVERSEAS EVERGLADES that resulted in the shortfall of 3,697,737 barrels of crude oil. This brings the total value of the entire shortfall to $406,751,070. Armed with forensic analysis of bills of lading and shipping documents, as well as sworn affidavits of three United States of America based professionals, the Federal Government claimed that Shell cheated Nigeria of the revenues and had since dragged the Anglo-Dutch company to court demanding $406.75 million. The amount, according to Lagos court papers, represents the shortfall of the money paid by Shell Petroleum Development Company of Nigeria Limited and its surrogate, Shell Western Supply & Trading Limited, in the account of the Nigerian government with Central Bank of Nigeria, for crude oil lifted in 2013 and 2014. Shell Petroleum Development Company Nigeria Plc. said through its former Managing Diorector, Mutiu Sumonu, that Nigeria loses 5 billion dollars annually to oil theft. Mr. Sumonu spoke at the public hearing on the upsurge of illegal oil bunkering activities in Nigeria’s coastal region organised by the House of Representatives Joint Committee on Petroleum Resources (Upstream) and the Nigerian Navy.

L-R: Director, Integrated Capital Services Limited, India, Mr Sajeve Deora; Fellow of Chartered Accountant, Mr. Adepeju Tunji and Executive Director/North Directorate, Heritage Bank, Mr. Ola Olabinjo; during the 46th Annual Accountants Conference in Abuja. PHOTO: SULAIMAN HUSSAIN

Air crash: Dana, others receive N.4bn claims from co-insurers COMPENSATION Victims of the 2012 crash in Lagos were paid over N800 million as insurance claims a few months after the tragedy

Sunday Ojeme

s part of fulfilling their obligations to policyholders, 12 underwriters and one reinsurance firm have paid over N400 million as claims for aircraft accidents including that of ill-fated Dana, which claimed 153 lives. Among the 12 are underwriters, who acted as co-insurers of the ill-fated 2012 Dana crash in Lagos. The lead insurer, Prestige Assurance, had earlier revealed that the victims’ families got over N800 million within a few months after the disaster. The claims report is the latest released via a document obtained by New Telegraph from the Nigerian Insurers Associa-

tion (NIA). According to the report, some other airline operators, whose aircraft were damaged for one reason or the other, also benefitted from the payment. This also includes the Nigerian National Petroleum Corporation and the Nigerian Civil Aviation Technology (NCAT), Zaria. The breakdown revealed that of the insurance firms involved, AIICO Insurance Plc paid the highest claims of over N115 million. The beneficiaries include Kings Airlines and Travels Limited (N5.23 million); loss of licence of captain (N38.40 million); Dana Airlines Limited (N13.50 million); Barbedos Group Limited (N20.22 million); OAS Services Limited (N17.03 million) and the Nigeria National Petroleum Corporation (NNPC), which received N21.70 million for its damaged Hawker aircraft. AIICO was trailed in the compensation closely by Sterling Assurance, which coughed up N94.65 million for the same purpose.

According to the details, the underwriter also paid over N87 million to Dana and another N3.98 million to Bristow Helicopters. In the same vein, Royal Exchange paid about N48.07 million as claims to Dana and OAS. Other insurers involved in the payments are Consolidated Hallmark Insurance (N17.12 million); Custodian and Allied (N24. 75 million); Ensure (N7.50 million) and Great Nigeria Insurance (N4.72 million). The list also includes Guinea Insurance (N7.04 million); Mutual Benefits (N17.12 million); Niger (N7.69 million); Staco (N4.37 million) and Standard Alliance (N14.35 million). Continental Reinsurance Plc was also involved with payment of N127.27 million. Apart from the current compilation by the NIA, an earlier report had indicated that some families of the ill-fated Dana crash got N821 million as revealed by the lead underwriter, Prestige Assurance Plc. Managing Director of the underwriting firm, Mr. Anand

Mittal, said as of August 11, 2014, the insurers had made advance payments to 106 passengers. He explained that two out of the 68, who collected the final claims, were relatives of the ground victims, while the rest were relatives of the passengers aboard the aircraft. Dana Air Flight 992, which crashed on Sunday 3, 2012, was a scheduled domestic passenger flight from Abuja to Lagos. The McDonnell Douglas MD-83 aircraft crashed into a furniture works and printing press building in the Iju-Ishaga neighbourhood of Lagos. The crash resulted in the deaths of all 153 people on board and 10 more on the ground. So far, it is reportedly the deadliest aviation disaster involving a McDonnell Douglas MD-83, and the second-deadliest involving an MD-80 series aircraft, behind Inex-Adria Aviopromet Flight 1308. It is also the second-deadliest aircraft crash on Nigerian soil, behind the Kano air disaster of 1973.

BUSINESS | Movers, Shakers and Appointments

MONDAY, october 17, 2016 NEW TELEGRAPH

New Shell vice president for Nigeria, Gabon

hell has appointed Mr. Peter Costello as the new vice president for Nigeria and Gabon. He succeeds Markus Droll, who assumes a new role of executive vice president, Projects in Shell International based in Rijswijk, The Netherlands, according to a statement from the firm. Costello has spent over three decades in the oil and gas industry. He started his career in British Gas and had worked in the United Kingdom, India, The Philippines, Thailand and Kazakhstan. Costel lo, who has assumed duty in Lagos, said: “I come to Nigeria with high hopes of what we can do to build on the excellent

work that I’ve met on the ground. Shell Companies in Nigeria are major contributors to the economy, not only through the energy they produce and the revenues they generate for the country, but also via their supply chains, local content and social investment. “Given the exceptional talent here and the huge resource base of the country, I’m confident we can address the challenges in our op erati ng envi ron ment , and conti nue to deliver real value to all stakeholders. My sentiments for Gabon are similar as we work to reposition our business and take advantage of new opportunities.”

Markus, also an engineer by background, joined Shell in 1985 and has held a variety of roles in projects and front-end engineering in The Netherlands, Oman and Brunei. He first came to Nigeria in 20 06, where he led the Cor porate and Commercial Directorate, and then in 2007, became Vice President Technical Africa. Between 2009 and 2012 he was vice president, technical, Asia Upstream International and was appointed vice president Nigeria and Gabon in January 2013. Markus said: “The last four years have been exciting as they have been challenging in what can easily pass as my most satisfying

ETI gets chief financial officer E cobank Transnational Incorporated (ETI) has announced the appointment of Greg Davis as its chief financial officer and group executive, finance. According to a statement from the lender, Davis, appointment at Ecobank became effective from October, 18th 2016. He will be responsible for overseeing and ensuring strategic management of all financial and fiscal aspects of the bank’s finance operations. According to the statement, Davis has an extensive experience and knowledge of the African banking landscape, having worked for various financial institutions in similar roles across the continent. He holds a Bachelor of Arts degree in Economic and Social History from the University of Leicester, United Kingdom. He is a Qualified Chartered Accountant and a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW). He joined Ecobank from Standard Bank Africa, where he was the Chief Financial Officer for all Standard bank operations in Africa, outside South Africa.

In this role, Davis was responsible for strategy and execution of the finance function with 400 staff members across 19 African countries. Group Chief Executive Officer of the bank , Ade Ayeyemi said: “Greg brings a great depth of knowledge and experience at best practice level and I’m delighted to welcome him on behalf of the Ecobank leadership team. His deep knowledge of corporate, commercial and consumer banking finance will be invaluable as we look to achieve our corporate strategy.” Davis’ appointment follows a reorganisation at Ecobank in 2016, and a new strategy, which provides a framework to serve customers more efficiently, while improving cost and risk management, and optimising the Group’s balance sheet. His previous positions include Finance Director, Corporate Banking Africa, at Barclays Bank. He has also worked with the Barclays Western Europe Retail Bank, Global Retail, and with the Commercial Banking, and prior to this with PricewaterhouseCoopers.

Costello

job in my career so far. Nigeria and Gabon continue to be fertile ground in our portfolio, and it has been a privilege working with staff and other stakeholders to deliver the kind of value that we can all be proud of both in the onshore and offshore oil and gas production. I leave with fond memories of the energy and resourcefulness of the staff in Nigeria and Gabon

and the genuine friendliness of the people, which goes even for the climate.” The Chair man of Shel l Companies in Nigeria and Managing Director of The Shel l Pet roleum Develop ment Company of Nigeria Limited (SPDC) Osagie Okunbor, noted that Markus had been a partner and friend of Nigeria using the experience from his first Nigeria posting.

Microsoft Nigeria hires director, CTO

Davies

icrosoft Nigeria has announced the appointment of two new executives to its senior leadership team. They are Ms. Rimini Haraya Makama and Mr. Ifeanyi Amah. Makama, according to a statement, joins the company as Corporate Affairs Director, while Amah, becomes its new Chief Technology Officer. Before her appointment, Makama served as the Communications Director at Africa Practice, where she successfully introduced some of the largest international institutions in EMEA into the Nigerian market while simultaneously helping to strategically position them as key players in their industries and encouraging foreign investment in the country. Prior to Africa Practice, she was the principal legal assistant at the International Criminal Police Organisation (ICPO – INTERPOL) in Lyon, France. Makama holds an LLB from the University of Jos, Nigeria, an LLM in International Law &

World Order from the University of Reading, UK, and CIM Diploma from the London School of Marketing. She is also Barrister and Solicitor of the Supreme Court of Nigeria. In 2014, she was recognised by Forbes as one of the 20 Youngest Power Women under 40 in Africa. As Corporate Affairs Director, the statement noted that Makama, would be responsible for managing the development and implementation of Microsoft’s public policy initiatives throughout Nigeria at national and local levels, as they relate to the company’s strategic partnerships with a mission to deliver a regulatory and reputational environment. In this role, she would also forge and deepen the company’s relationships with government elites, regulatory bodies, the legislature, international organisation and academia. The new director would align closely with Microsoft’s already existing public sector, developer, education and citizenship teams to meet the company’s common objectives with the government.

Speaking on her appointment, she said, “I am excited to be joining Microsoft at a time where it is positioning to lead the 4th Industrial revolution. I am particularly delighted to be leveraging my skills and expertise to contribute effectively to position Nigeria as part of the new digital economy.”

Makama

BUSINESS |Stock Watch

MONDAY, october 17, 2016 NEW TELEGRAPH

Cutix Plc: Immune to harsh economy While the tough operating environment has continued to inhibit the financial performance of most of the manufacturing firms in the country, Cutix Plc has continued to excel. CHRIS UGWU reports

hile Nigeria’s infrastructure deficit, particularly electricity supply and bad road networks, continue to hurt manufacturers, at times forcing some of them to fold up, the prevailing macro-economic indicators also point to a sector, which is headed for collapse if adequate measures are not taken to arrest the situation. This is because the cumulative effect of the scarcity of foreign exchange, falling oil prices, security challenges in Northern part of the country with the attendance consequences of loss of lives and properties, the resurgence of restiveness in the Niger Delta and the continued depletion of foreign reserves, have continued to pose serious threats to businesses and social activities in the country. Apart from rising cost of raw materials driven by the challenging macro environment, coupled with fiscal and monetary headwinds, which have resulted in marked reduction in domestic output for manufacturers, especially multinational consumer goods firms who have taken up foreign currency liabilities are also groaning under the pressure of the increased cost of the dollar. Market analysts believe the lingering weak inflow of U.S Dollars into the economy and the CBN’s forex rationing measures, suggests that there appears no near term respite to the forex-induced pressure. Given headwinds such as weak demand on the back of a squeeze on household wallets, most manufacturing companies in Nigerian have continue to find it difficult to weather the storm. However, in spite of the harsh operating environment, some indigenous companies in Nigeria have continued to increase their revenues despite the harsh environment under, which they operate. Some of these companies are making strong strides on the back of the federal government’s commitment towards boosting local content and making the sector self-sufficient as well as improving the overall standard and quality of their products and service delivery, thereby making the constituent companies able to compete internationally. But experts believe more is needed to be done in order to totally curb the problem of counterfeiting. Individual companies must also be able to come up with technological innovations that will help counter the activities of

counterfeiters. Cutix Plc is one of the indigenous cable manufacturing companies that have recorded significant improvements in bottom line in spite the harsh milieu. The company has since the beginning of first quarter 2016 continued to post good numbers. Despite that the market sentiments for the shares of most listed companies had dropped due to volatility in the economy, Cutix share price has firmed up marginally, as investors remained hopeful on the back of expectation that the company’s impressive earning reports. Stockbrokers attributed investors’ sustained confidence in the stock to continued sales; marketing and distribution efforts as well as its strong presence across Nigeria, which has consistently enhanced the bottom-line. The share price, which closed at N1.64 per share on November 30, 2015 has increased marginally in value. At the close of business last Friday, the company’s share price stood at N1.89, representing a growth of 25 kobo or 15.24 per cent year-to-date. Financials Cutix began first quarter of 2015 in a positive note with 50.04 per cent growth in pre-tax profits for the Q1 ended July 31, 2015. According the company’s filing with the Nigerian Stock Exchange (NSE) Q1 profit before tax increased from N44.621 million in 2014 to N66.951 million, accounting for a growth of 50.04 per cent. The company’s revenue also increased by 15.74 per cent to N665.555 million during the first quarter from N575.023 million recorded during the comparable period of 2014. The profit trend continued during the second quarter, as Cutix reported 77.32 per cent growth in net earnings for the Q2 ended October 31, 2015. The company’s Q2 profit after tax increased from N48.647 million in 2014 to N86.264 million, accounting for a growth of 77.32 per cent. The company’s revenue also increased by 20.91 per cent to N1.382 billion during the second quarter year 2015 from N1.143 billion recorded during the comparable period of 2014. Cutix also maintained good numbers with 69.66 per cent growth in net earnings for the third quarter ended January 31, 2016. The company’s Q3 profit after tax increased from N79.098 million in 2015 to N134.198 million, accounting for a growth of 69.66 per cent. The company’s profit before tax equally grew by 69.66 per cent to N206.459 million in 2016 as against N121.689 million in 2015, while revenue also increased by 21.96 per cent to N2.099 billion during the nine months ended January 2016 from N1.721 billion recorded during the comparable period of 2015. Cutix Plc posted 27.71 per cent growth in net earnings for the full year ended April 30, 2016. According the company’s filing with the Exchange, its full year profit after tax increased

Ifezulike

PZ Cussons Nigeria Plc 2015 September 30

N26.20 N24.00

It is important for the company to continue to manage its cost base tightly to sustain moderate operating margins for growth and profitability

November 30

N25.46

December 31

N25.70

January 2016

N21.00

February 29

N21.00

March 31

N22.71

April 30

N21.36

May 31

N21.66

June 30

N23.00

July 31

N18.60

August 29

N18.20

from N149.209 million in 2015 to N190.551 million, depicting a growth of 27.71 per cent. The company’s profit before tax equally grew by 37.61 per cent to N278.114 million in 2016 as against N202.107 million in 2015, while revenue also increased by 20.24 per cent to N2.835 billion during the financial year ended April 2016 from N2.358 billion recorded during the comparable period of 2015. Cutix continued with uptrend in profits, as it posted 22.64 per cent growth in net earnings for the first quarter ended July 31, 2016. According the company’s filing, the company’s Q1 profit after tax increased from N43.518 million in 2015 to N53.370 million, accounting for a growth of 22.64 per cent. Similarly, profit before tax grew by 22.64 per cent to N82.108 million in 2016 as against N66.951 million in 2015, while revenue also increased by 7.07 per cent to N712.597 million during the first quarter ended July 2016 from N665.555 million recorded during the comparable period of 2015. Influx of substandard products The chairman of Cutix Plc, Engr. David Ifezulike has appealed to the officials of Standard Organisation of Nigeria (SON) to ensure

effective control of the influx of substandard products and cables in particular into the country. Speaking also at the 31st Annual General Meeting (AGM), Ifezulike, noted that Cutix took advantage of the slight fall in prices of her major raw materials and increased efforts at selling. Disclosing that product counterfeiting was the company’s major setback, Ifezulike urged the Standards Organisation of Nigeria (SON) to increase her surveillance to curtail counterfeiters and also reduce the influx of substandard cables into the country. The Managing Director/ Chief Executive Officer, Cutix Plc, Ifeanyi Uzodike, on the sideline of the meeting, lamented that the lack of an integrated policy for the cable industry is the bane of Nigeria’s cable manufacturers. Stressing that traders and contractors are neglecting the quality cables manufactured in Nigeria for imported ones, which he said were of inferior quality most of the time, he tasked regulators to seat up and draw up measures to tackle the menace. He said, “In as much as government wants to promote free trade, it should ensure that traders do not import low voltage cables. This is because almost every manufacturer of cable in Nigeria can produce it. When this is done, it not only increases the capacity of the local companies, these companies will equally have cause to employ more Nigerians and the economy will be better for it.” He noted that the Nigerian cable manufacturers are committed and have the interest of the country at heart, because if they should react to the various policies of the government as it affects the cable industry, it wouldn’t bode well for Nigeria’s development. For an example, he noted that the cables used by contractors of the National Integrated Power Projects (NIPP) can be manufactured in Nigeria, but the federal government gave these contractors waiver to import these cables. He lamented also that none of the local cable manufacturers benefited from efforts to revitalise the power sector. Looking ahead Ifezulike noted that although competition has become stiffer in the industry and the tight economic situation persists as a result of the decline in oil revenue, the management expects the performance of the company to improve in FY 2016. “In FY 2016, we shall take advantage of the added capacity and capability provided by the power cable plant to boost our sales of house wiring and power cables. We shall create increased awareness in the markets where we are not well known and work closer with new alliances,” he said. Conclusion Though high cost of operations have adversely affected the real sector, it is important for the company to continue to manage its cost base tightly to sustain moderate operating margins for growth and profitability.

MONDAY, october 17, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

The Nigerian Stock Market Exchange as at October 14, 2016

30 CONSOLIDATION The process will certainly lead to another round of consolidation in the industry and also deepen penetration with array of product initiative

MONDAY, october 17, 2016 NEW TELEGRAPH

Insurance

Risk Based Supervision close to fruition

Sunday Ojeme

ith the year fast coming to an end, operators in the insurance sector have set the ball rolling towards implementing some very vital decisions in the first quarter of 2017 aimed at boosting penetration and also redefining the individual status of the firms. Among other things, the operators will be saddled with the implementation of the long awaited Risk Based Supervision (RBS) as the regulator, National Insurance Commission (NAICOM), has finally unveiled the draft roadmap for the operators to make their recommendations. While unveiling the draft before the Insurers’ Committee in Lagos last week, Commissioner for Insurance, Mohammed Kari, gave the operators one month period to critically examine the draft and inject their contributions. The essence of the RBS, which has been on board for some time now, is for the underwriters to undertake risks in line with their financial capability. Speaking on the scheme, Kari said that consolidation would be inevitable in the process on implementation, stressing that there were many players in the industry who do not add value to the services they provide. He maintained that the exercise would change such attitude and position operators for effective permanent. “Consolidation does not mean just an additional capital. It could be redefining and identifying the type of insurance business you want to operate. For example, you do not have as much capital as company B, you would operate within the confines of your capital. Today, we have capital as the only bases for operation and if you meet the minimum capital you can operate. “Our legislation had structured the industry into life, general and miscellaneous. So, if you are licenced to do general, it means that with N3 billion you can attempt to insure petroleum refinery or you can claim the right to insure an Airline, which is not right if you look at the foundation of insurance. “This is because, to be able to hold a risk, you must have enough assets to cover the risk. So, risk based is being able to identify what is your financial capability. If you financial capability does not guarantee you to insure oil refinery or airline, you would not be allowed to do

L-R: Chairman, Nigerian Insurers Association (NIA) and Managing Director, Consolidated Hallmark Ins Plc, Eddie Efekoha; Commissioner for Insurance, Mohammed Kari; Deputy Commissioner, Finance & Admin, George Onekhena and MD, NEM Insurance Plc, Tope Smart, at the 6th Insurers’ Committee meeting held in Lagos on Thursday.

so. “Your financial ability may be to insure a Keke NAPEP, then you would be a specialist in Keke NAPEP insurance. That is what risk based is going to be. It is going to first of all require that we review and see whether the minimum capital requirement is adequate. If it is not, we would require additional capital to meet that minimum. But if it is okay, we would just require the classification of companies’ assets plus the extra needed to get into the class of business one wants to undertake,” he said.

Kari had earlier pointed out that in the course of transition, NAICOM would be able to plan it carefully and appreciate the scope and depth of the initiative. He said: “We recognise the main risks arising from doing the transition hastily and without proper planning. Adequate time and training is required to make the transition successful. RBS requires supervisors to exercise judgments that are more subjective than they may be accustomed to doing under compliance programmes, among others. “Best practice is that su-

pervisors introduce RBS gradually and in tandem with their existing compliance approaches. This helps to minimise the supervisor’s own risk—the risk of ineffective supervision. The benefits of RBS to policyholders, the financial soundness of operators and general stability of the economic system is enormous. “Across jurisdictions, there are emerging trends for insurers and brokers. Both the work being undertaken by the International Association of Insurance Supervisors (IAIS) and Europe’s Solvency II are driving much greater sophistica-

tion and risk-sensitivity in prudential supervision with the result that risk-based systems are gradually being introduced outside Europe. “In an increasingly globalised market regulators are looking at what other jurisdictions are doing with the result that leading markets are broadly taking a similar approach to supervising insurers.” As the implementation draws nearer, it is believed that the process, when fully implemented, would enable the underwriters develop specific products that will be targeted at various classes of business.

Rebranding: Insurers’ C’ttee picks Q1 2017

ollowing their inability to finalise the process of rebranding, operators in the insurance industry have shifted the exercise from the October date to a yet to be picked date in the first quarter of 2017. Head, Corporate Affairs, National Insurance Commission (NAICOM), Rasaaq Salami disclosed this in Lagos after the Insurers Committee’s meeting in Lagos. He said the project would take off in the first quarter of 2017, stressing that by then, all necessary requirements to make the project successful would have been put in place. Insurers have adopted the rebranding initiative as a vehicle to transform their business. They resolved to propel the multi-million rebranding campaign through radio and

social media channels. According to the Chairman Sub-Committee on Publicity and Communication of the Insurers Committee, Hassan Oye- Odukale, the committee has adopted the proposal submitted by the consultant, stressing that the initiative would be reviewed quarterly to access the performance. Also speaking, the Vice Chairman, Sub- Committee Publicity of the Insurers Committee, Ebelechukwu Nwanchuku, said getting the youths to embrace insurance was the core mandate of the campaign, adding that operators hoped to take the campaign to schools to enable them educate pupils on the need for insurance. She also noted that the operators were eying the highly mobile individuals who need insurance to secure their fu-

ture. She posited that in line with the campaign, the operators had also resolved to improve on their service delivery, adding that the body had decided to pull resources together to pursue a robust and well-coordinated awareness campaign. Nwachukwu maintained that all necessary channels would be used to drive the campaign, adding that the youth market remained a veritable haven for insurance growth. The rebranding project, which was initially billed to commence this month, was clogged by financial challenges. The operators have hinged the project on financial contributions from members, but the targeted date could not hold due to the inability of some operators to meet their financial obligations.

BUSINESS | Insurance

MONDAY, october 17, 2016 NEW TELEGRAPH

FBNI Group reaffirms commitment to life, general sections SYNERGY An array of strategically designed products has continued to enhance the synergy between both underwriters

Sunday Ojeme

he managements of foremost insurance firms, FBNInsurance Limited and FBNInsurance General Limited have pledged to con-

‘PFAs not in business primarily to finance projects’

resident, Pension Fund Operators Association of Nigeria (PenOp), Longe Eguarekhide, has said Pension Fund Administrator’s (PFAs) main objective is not development financing but meeting the fiduciary responsibilities to subscribers by securing their future. He said in a report that the operators were willing to invest in projects, stressing that the project must however, be backed with guarantee to safeguard the funds invested. “Infrastructure would always take time. If there is anything to take away, it is that fact that the objective of pension investment is not development financing. The infrastructure professionals acknowledged that and the challenges we need to consider as pension administrators, is the fiduciary responsibilities to our subscribers. That is the first thing before the return perspective,” he said. Speaking in the same vein, the Executive Secretary, PenOp, Ms Susan Oranye, said: “Our primary role is our fiduciary to our contributors. We can agree across the board that pension funds can play a role in economic growth. It is good to invest in infrastructural bond, the economy would grow and there is job creation and everybody is happy. But if you do not have those bonds and projects properly structured, we would not just jump into investing.” She urged those calling on pension operators to focus on improving the lots of the people rather than return, to tread with caution, stressing that improving the lots of the general public is not the job of operators. “There is the call for impact investment. Some people are calling on us to focus on improving the lots of the people than return. That is really not our job. A lot of infrastructural bonds that pension funds are to be invested in have socially responsible effects on Nigerians. We need the government to put all these things together, let the ball rolling, so that we would not have this conversation again and again,” she added.

solidate on their strengths to give the public the best of insurance covers in both life and general segments. Unveiling their array of products at the 2016 Media Product Fair in Lagos, the managements of both firms pointed out that the underwriting firms were prepared to develop more products to cater for risks faced by the public. According to the Managing Director of FBNInsurance, Val Ojumah, all the products paraded by the firms are designed through apt researches with people in mind. He pointed out that the firms were conceived and established to change the landscape of insurance in the country, adding that the insurers enjoyed the robust viability of FirstBank Nigeria Plc and their South African associate, Sanlam Group, which has been in

insurance business for over 100 years. He added that the firms’ products were pocket-friendly, which can be afforded by people at different strata of life. Ojumah pointed out that the firms’ claims payment records remained one of the best in the industry and his colleague, Managing Director of FBNInsurance General, Bode Opadokun, worked round the clock to ensure claims were promptly attended to. He also affirmed that both firms were committed toward one goal to providing insurance services in a unique way to satisfy their clientele. On his part, Opadokun said the company, within the very short time of operations, had transformed general insurance business through the array of products in its kitty.

Opadokun, who moved into the general arm of the firm with years of industry experience, takes charge of the life transforming products currently in the general business kitty. They include fire and special peril, motor insurance, plant and all risk policy, personal accident marine cargo and more. FBNInsurance has flexible education plan, easy save plan, f lexible saving plan, flexible cash flow plan, family income protection plan, extended family support plan, guarantee lifetime retirement income plan, annuity and more. At the last annual general meeting (AGM), FBNInsurance Limited said it underwrote a gross premium income of N12.1 billion in 2015. The report highlighted the performances of FBNInsurance Limited and FBN General Insurance Limited.

According to the report, the profit before tax increased by 62 per cent from N1.3billion to N2.1billion, while the total assets closed at N22.4billion, representing an increase of 34 per cent from December 2014 value of N16.7billion. This improvement was driven by strong top and bottom line growth in the life assurance business benefiting from improvements in retail space penetration. Ojumah said: “The increased group profit before tax was made possible through efficient delivery channels, improved customer service and prompt claims settlement. This achievement further lends credence to our sound corporate governance, robust underwriting practices and risk management framework. We have also been blessed with an exceptionally committed staff.”

L-R: Head Technical, FBN General Insurance, Olumide Ibidapo; Head, ERM & Annuity Services, FBN Insurance, Adeola Adekunle; MD/CEO, FBNGI, Bode Opadokun; MD/CEO, FBNI, Val Ojumah; Head, Brokers Market & Public Sector, Olasupo Sogelola; Retail Distribution, FBNI, Kelvis Eikponobhoa; Head, Marketing & Corporate Communications FBNI, Elizabeth Agugoh; Retail Distribution, FBNI, Babafemi Ayotunde, during the Media Product Fair of the insurance firms in Lagos.

PFAs UNIT RATE FOR RSA AND RSA RETIREE FUND AS AT 7th OCTOBER, 2016 PFA

RSA

RETIREE

DATE

Premium Pension

3.1005

2.3303

7-Oct-16

Crusader Sterling

3.0500

2.1918

7-Oct-16

ARM Pension

3.0443

2.4180

7-Oct-16

Stanbic IBTC

2.9529

2.6931

7-Oct-16

Legacy Pension

2.8883

2.2632

7-Oct-16

NLPC Pension

2.7381

2.2600

7-Oct-16

Pension Alliance

2.6759

2.2586

7-Oct-16

Trust Fund Pensions

2.6352

2.1541

7-Oct-16

First Guarantee Pension

2.5671

2.2674

7-Oct-16

Sigma Pension

2.5349

2.4523

7-Oct-16

Leadway Pensure

2.4659

2.2772

16-Sep-16

AIICO pension

2.3812

2.2300

7-Oct-16

Fidelity Pension

2.1863

2.1036

7-Oct-16

FUG Pension

2.1524

2.3026

7-Oct-16

Apt Pension Managers Limited

2.1107

2.2734

7-Oct-16

AXA Mansard

2.0861

2.0076

7-Oct-16

OAK Pension

2.0801

2.3791

7-Oct-16

Investment One Pension Managers Limited

1.9119

1.6492

7-Oct-16

IEI Anchor Pension Managers Limited

1.8938

2.1691

6-Oct-16

IGI Pension Fund Managers Limited

1.5219

1.2934

NPF Pensions Limited

1.1890

8-Mar-16 7-Oct-16

NAICOM redeploys heads of directorate

he National Insurance Commission (NAICOM) has announced the redeployment of some directors to new portfolios in a minor reorganisation and rotation of heads of directorate in the commission. A statement by Head, Corporate Affairs, NAICOM, Rasaaq Salami, stated that the reassignment was part of an ongoing exercise aimed at improving efficiency of the commission’s workforce for effective insurance industry supervision. According to the statement, Adamu Balanti, who was hitherto the Director in charge of Research, Statistics and Information Technology Directorate, has been moved to the Administration and Human Resources Directorate, while Amos Michael Habila, who was in charge of Administration and Human Resources, is now the Director of Research and Statistics. Nicholas Opara, who until date was the Director of Supervision, was moved to the Finance and Accounts Directorate to replace the erstwhile Director, Olufemi Oluniyi Oba, who has also been redeployed to oversee the Supervision Directorate. The directors have been enjoined to remain focused and dedicated to the mandate of the commission as they settle into their new roles.

BUSINESS | Financial Market News

MONDAY, october 17, 2016 NEW TELEGRAPH

BUSINESS | Financial Market News

MONDAY, october 17, 2016 NEW TELEGRAPH

Stakeholders seek more attention for domestic investors CONFIDENCE Regulators should pay more attention on how to bring back local investors

Stories by Chris Ugwu

ollowing the massive sell off being witnessed in the nation’s local bourse, some investment stakeholders have called on the market regulators to do more in investment education that would boost positive sentiment of domestic investors in the nation’s capital market.

The experts stated this at the 2016 Triennial Delegates Conference and Gala Night tagged ‘Financial Turbulence & Regulatory Framework in a Recession Economy’ organised by Independent Shareholders Association of Nigeria (ISAN) in Lagos. They noted that the Nigerian Stock Exchange (NSE), the Securities and Exchange Commission (SEC) and other stakeholders need to do more to encourage domestic portfolio investment as against strong presence of foreign investors in the market. Former Chairman, Union Bank of Nigeria Plc, Elder Kalu Uke Kalu, said regulators should pay more atten-

tion on how to bring back local investors who have gone through hard times in the last six years. He noted that the period saw most domestic investors losing the value of their investments due to rising wave of unclaimed dividend and share reconstructions embarked on by some quoted companies. Similarly, the former Group Managing Director, Ecobank Transnational Incorporated (ETI) Plc, Mr. Arnold Ekpe noted that if the stock market must move forward, the regulators must encourage domestic investors. “We need to get the regulators and other stakeholders to

Benchmark index rises by 0.09% I nvestors got respite from weeks of bearish activities, as the NSE AllShare Index and Market Capitalisation appreciated by 0.09 per cent to close the week at 27,861.03 and N9.570 trillion respectively. Similarly, all other Indices finished higher last week with the exception of The NSE-Main Board, NSE Insurance, NSE Lotus II and the NSE Industrial Goods Indices that declined by 0.21 per cent, 0.55 per cent, 1.15 per cent and 3.59 per cent respectively, while the NSE ASeM Index closed flat. A turnover of 1.163 billion shares worth N9.251 billion in 14,992 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 934.905 million shares valued at N6.357 billion that exchanged hands the previous week in 12,352 deals. The Financial Services Industry (measured by volume) led the activity chart with 1.022 billion shares valued at N5.890 billion traded in 8,812 deals; thus contributing 87.93 per cent and 63.68 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 61.569 million shares worth N141.308 million in 633 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 33.086 million shares worth N2.017 billion in 2,642 deals. Trading in the top three equities

namely – Access Bank Plc, Diamond Bank Plc and United Bank of Nigeria Plc (measured by volume) accounted for 522.737 million shares worth N1.951 billion in 1,914 deals, contributing 44.95 per cent and 21.09 per cent to the total equity turnover volume and value respectively. Twenty-two equities appreciated in price last week, same as 22 equities of the previous week. Forty-two equities depreciated in price, higher than 35 equities of the previous week, while 116 equities remained unchanged lower than 123 equities recorded in the preceding week.

come up with good approach to grow the stock market. The government needs to provide the leadership to achieve the objective of boosting the market participants at the local level,” Ekpe said. He noted that since Nigeria gained independent in 1960, the country has come a long way but that there are a lot of things “we should have done, we have not moved as fast as others, we are number one in Africa during the last two years but we have ceded the position to South Africa, let us do something to build a viable economy to regain our position. We are at cross road and if we don’t move fast, the rest of the world will abandon us”.

Access Bank raises US$300m Eurobond

ccess Bank Plc has raised US$300 million via a Eurobond maturing in October 2021, at a yield of 10.75 per cent. This news follows an October 3rd announcement by the bank stating plans to refinance its US$350 million Eurobond, which is maturing in July 2017 as part of a US$1 billion global medium term note programme. According to a report obtained from Cordros Capital, the bank also announced that exchange instructions in respect of US$113 million in aggregate principal amount of the existing Notes have been received by

WFE unveils emerging market liquidity report

he World Federation of Exchanges (WFE), which represents more than 200 market infrastructure providers including exchanges, has published a report into growing liquidity in emerging market exchanges, in collaboration with global management consulting firm Oliver Wyman. The report, entitled ‘Enhancing Liquidity in Emerging Market Exchanges, is designed to provide regulators and exchange operators in emerging markets with ideas around how to grow and enhance market liquidity, liquidity levers and a potential framework

National coordinator, ISAN, Sir Sunny Nwosu said he was particularly happy that after leading and shaping the destiny of the biggest shareholders grouping in Africa, the association is poised to transit from founder/manager to a more democratically elected leadership. “This is a demonstration that we do not encourage sittight syndrome in ISAN. This then is my valedictory conference as the National Coordinator of the association. I however, remain the founder and a trustee of the association and would give full support to incoming executives to move the association to greater heights,” he said.

for which of those levers may work best at which stage of market development. Many emerging markets suffer from low levels of liquidity, effectively placing a constraint on economic and market development. Liquidity is positively associated with broader market development, and often creates a virtuous circle, resulting in encouraging effects for the underlying economy. The report identifies three key areas that exchanges and regulators can focus on to grow liquidity, with each area having a number of corresponding liquidity levers.

the Exchange Agent at or prior to the Exchange Deadline. Commenting on the development, analysts at Cordros said: “While we expect the refinancing arrangement will ease pressure on forex liquidity; at 10.75 per cent the new October 2021 note was raised at significantly higher yield than the 7.25 per cent on the July 2017 note. We expect this higher yield will materialise in higher funding cost adding pressure to the bank’s net interest margin going forward. “We have incorporated our expectation for higher funding cost into our 2017 forecast and revised our target price lower to N9.18 from N9.28. Our revised target price represents a 63.9 per cent premium to its current price of N5.60. Consequently, we maintain our BUY recommendation on the stock. Access Bank reported 26.21 per cent growth in profit after tax for the second quarter ended June 30, 2016. The unaudited first quarter 2016 financial results released to the Nigerian Stock Exchange (NSE) showed that the bank’s profit after tax (PAT) for the period rose to N39.489 billion, representing a 26.21 per cent y/y growth when compared to N31.287 billion in Q2 2015. Profit before tax (PAT) was up 27.89 per cent y/y to N50.022 billion in half year 2016 from N39.113 billion in Q2 2015

BUSINESS | Interview

MONDAY, october 17, 2016 NEW TELEGRAPH

How to get Nigeria out of recession, by AfDB boss African Development Bank (AfDB) President, Dr. Akinwumi Adesina, was in Nigeria recently, his first visit on becoming president of the continental bank. In a chat with select journalists in Abuja, Adesina advised Federal Government on how to pull Nigeria out of recession, amongst other issues. ABDULWAHAB ISA was there. Excerpts: What is your mission to Nigeria? I’m very happy to be here since I became the president of AfDB and, as you know, this is home for me. As I explained to President Muhammadu Buhari, I did show my appreciation for his very strong support for my running for president of AfDB. My appreciation goes to the former president, Dr. Goodluck Jonathan, and our other past presidents, Chief Olusegun Obasanjo, Abdulsalam Abubakar as well as Yakubu Gowon and former vice president Atiku Abubakar. They all played a huge role during my campaign. It’s obvious times are tough in Nigeria, but the same way we stood together then is absolutely the same way we would stand together now. I’m in Nigeria to show strong support to Nigeria for three reasons: first of all, Nigeria is the largest shareholder of our bank and so Nigeria is very important for our bank. Secondly, until recently, Nigeria has been the largest economy and it is very important that what happens to Nigeria affects the rest of Africa. Thirdly, is that, what happens to Nigeria is so important. When the world witnessed the financial crisis of 2008, everybody said the banks were too big to fail. In the case of Africa, Nigeria is too big to fail. Therefore, we are here to really support Nigeria. What are we doing precisely for Nigeria? First of all, times are hard in Nigeria and I want to assure you that Nigeria is not in a debt crisis at all. If you take a look at the debt-to-Gross Domestic Product (GDP) ratio in Nigeria, it is 15 per cent whereas; some people are running 50-150 per cent in developed countries. So, there is no debt crisis in Nigeria. What the country is experiencing is revenue challenge. The problem of Nigeria is that, everybody talks about the collapse in price of oil and people talk about diversification and diversification is not a problem of Nigeria. Nigerian economy is well diversified. Oil and gas accounts for 10 per cent of the GDP, but it accounts for 98 per cent of the foreign exchange earnings of the country. The problem Nigeria faces is low productivity and low profile of the remaining 90 per cent of the rest of the economy. The problem is revenue confrontation problem, it is not a diversification

Adesina

problem and so, what is needed is to give a lot more incentives to the remaining 90 per cent of the economy. We believe very strongly that the private sector is going to play a very important role. So, rather than spending your way out of recession, our position is that you need to incentivise your way out of recession so that, by the time you get out of recession, the economy is structured in a way that the remaining 90 per cent can actually replace the income revenue profile of the revenue you are getting in the 10 per cent today; otherwise, if you spend your way out of it, you will still be left the same way you were at the end of it. We’ve had excellent discussion with the vice president and rest of the Economic Management Team (EMT) and I must say that, I feel enormously encouraged to hear what is being done in Nigeria. It’s interesting to remind you that Nigeria just went through a very difficult period with Boko Haram insecurity. What is your view on insecurity? You can’t invest if there is no security. So, I want to commend the president and his government on the great job they have done in dealing with insecurity problem, but they have also taken some tough decisions and it is not easy to take such decisions. Two of those tough decisions, first and foremost, is the issue of removal of fuel subsidy and secondly, the devaluation of the naira. Those are tough but they are the right decisions to take in the current situation. What one has to make sure happens is that Nigeria must not fail to reap what I call the dividends of the devaluation. What would have been very bad is to devalue and not reap the benefit of the devaluation. When you devalue your currency, three things happen: your non-oil export becomes more competitive, your import becomes more expensive; import substitution becomes something you can do and do very well and third is foreign direct investment that is to come; foreign direct investors that are bringing in money can stretch the dollar and that stretch would help the devaluation. Those three things absolutely have to happen but for them to happen, they require incentives and so, we

Rather than spending your way out of recession, our position is that you need to incentivise your way out

discussed with the government the need to have incentives for critical sectors such as agriculture and agro-allied industries. The solid mineral sector is very important and there is need for incentives for the manufacturing sector; incentive for SME sector because that is what is going to carry jobs for the economy. Don’t forget it’s not just about the question of inflation; it’s also about jobs. We have high level of unemployment in the country and part of it is, what is leading to the insecurity issue that you have here? I just want to say that we believe it’s important to have some synergy between the monetary side and the fiscal side. One thing should be above in our view, which is the temptation to raise interest so high calling a lot of what is coming in as foreign direct investments, which is going to be a lot of portfolio. That would be a lot of hot monies that comes in fast because they don’t stay long, they don’t stay in the real sector and they leave as fast as they can, and you might have a situation that is worse than what you have before . We encourage the need to have the right kind of investment in the real sector. That is where the real issue for revenue concentration problem is. We want to commend their efforts in widening the fiscal space but also in reducing inefficiency in public expenditures. However, despite all the efforts, there is budget deficit that needs to be covered. At AfDB, we will be holding our board session soon to consider budget support facility of $1billion for Nigeria and that would go a long way. Let me be clear about what our terms of lending are: We are saying this is money that you get at 1.2 per cent interest rate for 40 years and so, this is almost like a grant to support the government to smoothen itself out of the current revenue situation. Secondly, is that we are going to be supporting agriculture big time, and would invest $300 million in agriculture in a programme called: Enabled Youths, which is to develop a new generation of young commercial farmers for Nigeria. There would be 1,000 of them per state and that would make them 3,700. Each one is expected to create about five jobs that is CONTINUED ON PAGE 35

BUSINESS | Interview

MONDAY, october 17, 2016 NEW TELEGRAPH CONTINUED FROM PAGE 34

creating about 185,000 jobs right there and if you take them with the 37,000, that is about 220,000 jobs and that would create a lot of jobs for the population. We are also going to be investing additional $200 million in the staple crops processing zones for Nigeria. We should allow the development of zones with good infrastructures for agro-allied industries to process herbals into food and, therefore, contribute to the production and import substitution that I mentioned earlier. The North East has a peculiar challenge and the president is working very hard and we, at the bank, are very sensitive to that because we have seen the challenges there and the need for reconstruction and we are very supportive of what the government is doing there. So, we are going to be financing physical and economic infrastructure in North East with $250 million. What other areas are you looking at in terms of capital project financing in Nigeria? Water, health, sanitation issues, skills, particularly artisan’s skills and all of that, are on table. I just announced in the meeting with the vice president that I heard about severe malnutrition that is occurring in the North East that we would give a grant of $1 million for the internally-displaced persons (IDPs) to be able to access the partly-needed food. When you look at the inflation in Nigeria, it is structured inflation. Power is one of it and the situation in Africa just generally makes no sense and you can’t develop or industrialise in the dark, kids can’t learn in the dark, vaccines and so on cannot grow in the dark; basically, Africa is tired of being in the dark and I think Nigeria is also tired. I grew up here, I lived here. Darkness, what are we going to do with it? We said power, power and more power is what is needed in Nigeria. For this year, we are going to be investing a total of $363 million in the power sector focusing on 1400MW of electricity that would be generated. For 2017, we expect to invest fund that will rough-

ly translate to 1, 385MW of electricity. We would establish in Nigeria what we call Energy Entrepreneur Fund (EEF) for Nigeria. That would allow small entrepreneurs in the energy space to be able to have funding.

A lot of what you see today that is driving that interest rate is structured to power and all the infrastructures

CV Worked at the Rockefeller Foundation since winning a fellowship from the Foundation as a senior scientist in 1988. From 1999 to 2003, representative of the Foundation for the southern African area. From 2003 to 2008 an associate director for food security. Minister of Agriculture, 2010–2015 Elected President of AfDB 2015 till date

Adesina

One of the major problems confronting Africa and, by extension Nigeria, is increase in number of jobless youths. How is your bank helping out in this aspect? In terms of jobs for African youths, we have gone quite far in designing that. That initiative is focused on helping African countries to train roughly 25 million jobs in the next 10 years. There is job crisis for youth world over. Take Nigeria for instance, the unemployment rate is very high. You have a situation where young people are roaming round the street. When I used to be a minister here, Aliko Dangote advertised for jobs and a PhD holder applied for the position of a driver. I personally believed that the future of African youths is not at the bottom of the Mediterranean Sea. We have to do everything possible to tap into their youthfulness, their talents, and their entrepreneurship. This is what this initiative is supposed to do. I discussed it with the vice president. The focuses are areas, which the young people are getting into. First and foremost, the ICT is a big area. Zuckerberg, founder of Facebook, was here in Nigeria and I believe ICT service can play big in Nigeria. Part of our initiative is to help create more than 50,000 coders for Africa and a lot of these can be here. If all these programmes and computer apps of today were available when I was a child, maybe I wouldn’t have been an economist but a programmer. The opportunities are huge in the ICT sector. The second one is agri-business; and we are going to be doing the Enabled Youth initiative that I mentioned to you and it’s going to be a big component. I think most of it is going to be entrepreneurship development. Take agriculture, for example, it’s very important to support farmers to have access to productive input because that way, you can raise productivity and drive out inflation. Today, you have 16.4 per cent inflation, the larger part of that is food and the more you can actually stimulate that, the better. The support for f ar mers is not a subsidy. Support for farmers is physical stimulus because it allows them to get into the rest of the economy. Those that are supplying them seeds, those supplying them fertilizers - everybody

is there and when I was there, we initiated e-wallet system, those that are using the mobile phones, the telecom, etc. The government might consider reducing the corporate tax rate so that those that are actually processing food would be helping the government to address the issue of import substitution. Our role, as a bank, is not to dictate to the government what it’s going to do, but to support government efforts to make sure that things work out. We are going to be talking to the organised private sector and philanthropic organisations about how we can combine our resources and their resources to achieve a social good that they want to do. The debate on sale of national assets is on, what is your view on this issue? I’m sure the conversation is a local discussion and I’m sure the arguments on both sides have been heard; and I’m sure that the result will come out after a national deliberation. Is there a way AfDB can intervene in the Nigeria financial sector precisely the banking sector, to stem the rising interest rate? I thought I had talked about that in my earlier remarks. I can only say that, when we talk about high interest rate, we have to get three things clear: One is that, a lot of what you see today that is driving that interest rate is structured to power and all the infrastructures. Second, is to strengthen the banks in the real sector. The good thing is that when I was in Nigeria, we developed the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and it was one of those things that you will be lucky to participate in. Today, we have 30 countries that want to scale up NIRSAL. The bank has supported many Nigerians that now go and train other countries and the same thing for the e-wallet that we did to distribute inputs. Today, we have 30 ministers of finance across Africa the bank is working with on developing this initiative. Sir, you talked about finance packages. Are they tied to specific projects? As I explained in my introductory remarks, they are not; it’s a budget support for agriculture, and youth investment. When it comes to the issue of the government, we are supporting the government to do real projects; to do roads, whether its energy or investment in agriculture; these go right into the government budget system. When it comes to private sector, we do quite a lot of that, and we do a lot of credit in Nigeria here. We do a lot of trade finance here in Nigeria. We actually have a way of monitoring the disbursement and how much jobs you are creating; and for us, value for money is the key and if we see that anybody is getting the money and not using it for what it is disbursed for, we have a way we could stop that. So, we are not in the business of giving free money, it’s for development.

BUSINESS | MONEYLINE

MONDAY, october 17, 2016 NEW TELEGRAPH

Concern mounts over interbank market liquidity Uncertainty More banks limit use of naira debit, credit cards for International transactions Tony Chukwunyem

he naira’s strengthening on the parallel market in recent days does not seem to have eased concerns about the lack of liquidity on the interbank market ,as nervousness as to where the future lies for the local currency intensified at the weekend. Indeed, the Chief Executive Officer of the official foreignexchange trading platform, FMDQ OTC Securities Exchange, Mr. Bola Onadele, was reported by Bloomberg last Friday to have called on the Central Bank of Nigeria (CBN) to let the local currency float freely. FMDQ started operations in 2013 and its Chairman is the CBN’s Deputy Governor (Economic Policy), Dr. Sarah Alade. Onadele said the CBN was using “strong moral suasion” to prevent the naira from depreciating to a market-related level, adding that the market’s dysfunction is hindering the country’s economic recovery by deterring inflows from foreign investors and hurting manufacturers dependent on imports. The news agency quoted him as, having said :“What’s happening now, it’s not even a managed float. I’m not sure what we’re doing. I don’t know the objective, the strategy and success benchmarks. The dealers and bank CEOs don’t want to be reprimanded. If

they quote rates freely, they may be reprimanded by the central bank.” He was further quoted to have said: “The average daily turnover in the spot market used to be $1 billion and now it’s less than $100 million. I don’t believe the parallel market is illegal any more. We have inadvertently legitimised it through some of our actions. It may no longer be as small a market as we used to think. If you have $1,000 to convert to naira, will you sell it at 315? No rational person will do that. You’ll sell to a bureau de change and get 460. “No one believes the 305 price of the naira on their screens. That devaluation risk is still there. It would only melt away when the market establishes a credible price formation on the back of transparent trading operations by the banks. We need to

have proper price discovery,” Onadele added. According to him, some banks and offshore traders were thinking of shorting the dollar when the naira dropped to around 360 in mid-August, which suggested that was “almost the equilibrium point.” However, he said the CBN felt the need to halt the depreciation at that point “through strong moral suasion.” “The interference was obviously not appreciated by both the domestic and international sellers, as supply of foreign exchange dried up,” the FMDQ boss stated. Interestingly, his remarks came to light on a day that the apex bank auctioned twomonth dollar forwards to clear a backlog of demand from airlines, manufacturers and other companies. Traders said that in last Friday’s one-off special auc-

Int’l agencies affirm Sterling Bank’s ratings

t erl i n g B a n k h a s showed deeper pliability through the re-affirmation of its investment grade ratings by international credit rating agencies at a time when corporate and sovereign ratings are under downward ratings pressure. Moody’s Investors Service, in its September Credit Opinion update, has re-affirmed Sterling Bank’s Issuer Credit rating of b2 and the standalone Baseline Credit Assessment (BCA) ratings of B3 with a stable outlook, according to a statement from the lender. Specifically, Moody’s cited the lender’s solid asset quality metrics and provision coverage as well as improvements in the lender’s

IT infrastructure and risk ma nagement processes, among others. Recently, Global Credit Ratings (GCR), also an international rating agency, affirmed Sterling Bank’s national long term and shortterm credit ratings of BBB and A3 respectively with a stable outlook. Assessi ng t he Bank’s quality, Lafferty Group, in its Bank Quality Ratings (LBQR), reckoned Sterling Bank to be amongst the top 10 banks in the world, top three in Africa (after Capitec and Barclays Africa) and the top Bank in Nigeria. The Lafferty Group’s approach to Bank ratings involves an evaluation of key quantitative and qual-

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

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 12.50 22-JAN-2026 10.00 23-JUL-2030 12.1493 18-JUL-2034 Tenor (Days) Call 30 90 180

N19,142,526.05m N18,579,219.49m 17.9

Mar, 2015 Mar, 2015 Sept, 2016

14 10.77 US$50.62 US$24,187,937,761

26/07/2016 Mar 2015 14/10/2016 13/10/2016 Source:CBN

FGN Bonds

TTM

1.07 3.24 3.87 5.82 7.95 9.81 14.31 18.29

tion, the CBN debited customers’ naira accounts but will deliver the dollars in two months’ time. “This important one-off exercise is dedicated to the clearance of the backlog of matured foreign exchange obligations,” the Ministry of Transportation said in a statement. Domestic and international airlines operating in Nigeria have struggled with the plunge in the local currency that has made their jet fuel bills in U.S. dollars ever more expensive and also hurt their profitability, as their passengers pay in naira. The liquidity squeeze on the interbank market has led to many firms closing shop and sacking workers. Traders said there was no trade for more than four hours after the market opened last Friday, with the currency then offered

Price 104.65 114.59 111.96 120.58 109.60 100.54 83.82 97.56

NIBOR

Rate (%) 4.4583 9.1071 11.0102 12.3790

Treasury Bills

Bid Yield 10.38 10.55 11.60 11.44 12.27 12.40 12.44 12.49

Change (%) -2.50 ▼ -0.74 ▼ -0.65 ▼ -0.68 ▼

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲

Price 104.80 114.89 112.26 120.88 109.90 100.84 84.12 97.86

Tenor (Months) 1 2 3 6 9 12

Offer Yield 10.24 10.45 11.51 11.38 12.22 12.34 12.39 12.44

NITTY

Rate (%) 6.9949 7.2368 8.0819 9.2061 9.5872 10.5042

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲ Change (%) 1.12 ▲ -0.27 ▼ -0.17 ▼ -0.11 ▼ 0.03 ▲ 0.42 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 7.67 7.82 -0.51 ▼ Open-Buy-Back (OBB) 3.83 30-Jun-16 7.92 8.08 -0.51 ▼ 6-Oct-16 8.59 8.34 8.71 -0.31 ▼ Overnight (O/N) 4.33 8.99 -0.31 ▼ 16-Mar-17 9.36 10.28 -0.07 ▼ 9.11 9.98 -0.07 ▼

Change (%) -1.75 ▼ -2.08 ▼

itative criteria such as strategy, culture, customer care, brand promise and financial performance. Michael Lafferty, Chairman, Lafferty Group had stated, “banks that score wel l on La f fer ty Bank Quality Ratings tend to trade at a premium price to their tangible book value”. Com menti ng, M r. Abubakar Suleiman, Sterling Bank’s Executive Director, Finance and Strategy, said the outcome of the ratings ref lects the lender’s strong performance a nd resi lience a midst challenging operating conditions, and validates the bank’s business models. It would be recalled that the lender recently raised additional N8billion through a debt issuance, which is part of the institution’s approved programme for tier 2 capital in the sum of N35billion. This according to the statement, has further strengthened the lender’s capital adequacy, which is above the required regulatory threshold. Sterling Bank Plc, “the one-customer bank”, is a full-service national commercial bank with an asset base above N800 billion, over 187 business offices and more than 800 Automated Teller Machines (ATMs) nationwide. In over 55 years of service, Sterling Bank (formerly NAL Bank) has evolved from the nation’s pre-eminent investment banking institution to a fully-fledged commercial bank. Furthermore, with a strong national presence, Sterling Bank is one of the top 30 most capitalised institutions on the Nigerian Stock Exchange (NSE). The bank is also one of Nigeria’s fastest growing banks and is recognised as a dynamic financial services organization.

at N311 to the dollar in a single trade of $500,000 at mid-day. The naira closed at 305 and 307.77 per dollar according to CBN and FMDQ data respectively. The currency was sold at N460 per dollar on the parallel market. Last Friday, Stanbic IBTC Bank, in a notice, said that it would limit customers’ use of naira debit and credit cards for international transactions from next week on account of current market conditions. A similar notice was also sent by FCMB, which informed customers that the limit on MasterCard or Visa Card for carrying out Online and Point of Sale (POS) payments abroad is now $100 monthly. The bank also said Automated Teller Machine (ATM) withdrawals were no longer permissible. Some other lenders had taken similar steps a few weeks ago.

Abiru to lenders: Promote financial literacy

he Group Managing Director/CEO, Skye Bank Plc, Tokunbo Abiru, has said that the banking industry should act in unity to ensure that financial education is promoted in schools across the six geopolitical zones. Speaking after the Bankers’ Committee meeting held in Lagos last week, the bank chief said that the promotion of financial inclusion among the youth was critical to boosting the nation’s economic growth. He revealed that the Bankers’ Committee unanimously agreed that each of the commercial banks should take at least, two schools in each of the six geopolitical zones. “Part of what we discussed was the need to continuously improve on financial literacy. And one of the resolutions is for the entire industry to act as one, to play an active role in the forthcoming World Savings Day Celebration on October 30,” Abiru said. He explained that part of the role of the banks was to ensure that each of the banks take on at least, two public schools in each of the six geopolitical zones of the country. “We suggested that at least 12 public schools will be taken up by each bank for this years’ event,” he said. Skye Bank Plc has been at the forefront of mentoring of students in financial literacy as endorsed by the Bankers’ Committee. The lender has taken the financial inclusion message to different states within the federation to underscore the imperatives of the savings culture among students. The bank’s officials were recently at Biedomo Premier School, Yenagoa, Bayelsa State to teach the students the fundamentals of financial planning, investment instruments and the need for imbibing the savings culture at an early stage.

national | news

monday, october 17, 2016 NEW TELEGRAPH

Airlines demand implementation of forex policy Wole Shadare

igerian airline operators are still pessimistic about securing special sectoral allocation of foreign exchange for them in the Secondary Market Intervention Sales (SMIS). They are saying that the implementation would determine its success. Some of the operators, who lauded the initiative, told New Telegraph that the implementation does not clear the immediate

problems of the airlines, adding that the modalities and availability of forex from Banks would determine its workability. The Managing Director of Medview Airlines, Alhaji Muneer Bankole, said, “It is a welcome development but we hope it would be acted upon.” Another airline chief, who spoke on condition of anonymity, said the policy would favour foreign carriers more than domestic operators. Following the proposal sent by the Minister of State for Aviation, Hadi

572,001

Sirika, the Federal Government finally secured a special sectoral allocation of forex for them in the Secondary Market Intervention Sales (SMIS) for Airline operators. This is to further engender market confidence, ensure access to forex by the airlines and sustain the integrity of the Nigerian Inter-bank forex market. The Central Bank of Nigeria (CBN) also resolved pursuant to the Minister’s show of concern to intervene in the inter-bank forex market through forward settlement. The Special Secondary Market Intervention

Sales (SMIS) – Retail is an important one-off exercise dedicated to the clearance of the backlog of matured forex obligation for airlines. Spokesman for the Nigerian Civil Aviation Authority (NCAA), Sam Adurogboye, in a statement, yesterday, said it is however worthy to note that other sectors were similarly availed priority in the inter-bank forex market, adding that these are raw materials and machineries for manufacturing companies and agricultural chemicals. Adurogboye explained that the Director General,

NCAA, Capt Muhtar Usman, had earlier led a delegation of Airline Operators of Nigeria (AON) to hold meetings with the Ministers of State for Aviation, Finance and their Petroleum counterparts, including the CBN Governor. As a result of the meeting, Sirika was able to extricate for the foreign airlines 50 per cent clearance of their forex obligations, stressing that, “this present success is another step ahead in seamless operations in the aviation industry.” He said it is expected that this is a major window for those airlines, who had

The total volume of payment channels made by Internet (WEB) of Nigeria in April 2015. Source: National Bureau of Statistics

L-R: President, Seven Stars Award, Khalil El-Mouelhy; Chief Executive Officer, Transcorp Hotels, Valentine Ozigbo and Artist and Panel member, Seven Stars Jean-Christophe Rousseau, at the 2016 Seven Stars Global Luxury Hospitality and Lifestyle Awards in Marbella, Spain…at the weekend

Heart surgery devices have life-threatening risk –Study Appolonia Adeyemi

he United States Centre for Disease Control (CDC), has raised the alarm over dangers inherent in some medical devices used in performing heart surgery. The agency said that some heart surgery patients may be at risk of contracting a potentially deadly infection due to the devices. The CDC, which issued the warning on Thursday, said some medical devices might have been contaminated during its manufacturing. The warning was issued to healthcare providers and patients, alerting them that some heater-cooler devices commonly used in openheart surgeries might have been contaminated. The warning was issued on the heels of a Consumer Reports article outlining the risk and

stating concerns that patients were not being told about it. The CDC said its advisory was issued after the agency received “new information” about the device, which is called the LivaNova PLC (formerly Sorin Group Deutschland GmbH) Stöckert 3T heater-cooler. Deputy Director of CDC’s Division of Healthcare Quality Promotion, Dr. Michael Bell, said: “It’s important for clinicians and their patients to be aware of this risk so that patients can be evaluated and treated quickly.” According to a report in the NewsmaxHealth, Bell also called upon hospitals to “check to see which type of heatercoolers are in use, ensure that they are maintained according to the latest manufacturer instructions, and also alert affected patients and the clinicians who care for them.”

Senate begins debate on 2017 MTEF/FSP Chukwu David Abuja

he Senate will tomorrow commence debate on the 2017-2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) submitted for its approval by President Muhammadu Buhari on October 4, 2016. The MTEF and FSP provide the framework for the 2017 Appropriation Bill. The early listing of the MTEF/FSP for debate in Senate, shortly after it was laid before

both chambers of the National Assembly, according to a statement from the Media Office of the President of the Senate, is to fast-track its consideration and passage, so as to pave the way for the Executive to present the 2017 Appropriation Bill before the National Assembly. Ahead of the commencement of debate on Tuesday, the Senate is expected to hold its second interactive session with Civil Society Organizations (CSOs) on the nation's budgeting system today barring any last minute change.

earlier ceased their operations to recommence in earnest. Therefore, with this intervention, he said, comes a landmark incentive for both local and foreign operators to carry out safe, secure and lucrative operations in Nigeria. “In addition, all scheduled and mandatory checks which are done in the Diaspora will be undertaken with this leverage at a reduced cost. The Director General of the Regulatory Authority, NCAA, therefore expects the foreign operators to carry out their operations with renewed vigour.”

Oloyede wants N’Assembly to suspend amendment of JAMB Act Yekeen Nurudeen Abuja

he Registrar, Joint Admissions and Matriculation Board (JAMB), Professor Is-haq Oloyede, has appealed to the National Assembly to suspend the process of amending the Act that established the Board. Rather, he said that the lawmakers should allow the examination body and all tertiary institutions, including the Ministry of Education and other necessary stakeholders to go back to the round table for discussion at a very conducive atmosphere.

While noting that all critical stakeholders have agreed to work together for the benefit of the Nigerian child, the JAMB Registrar said the content of the bill as presently with the National Assembly is a product of acrimony and if passed, would be counterproductive. Oloyede, who made the plea at a meeting of Association of Vice Chancellors of Nigerian universities (AVCNU) in Abuja, also urged the Federal Government to revert to old days where serving Vice Chancellors of universities were made as chairmen of the governing board of JAMB for good synergies and har-

monious relationship. This, he explained, would also enable the examination body to effectively deliver on its mandates, noting that this practice which promoted harmony and quality inputs on the Board's matriculation activities have since been forgotten or neglected. He remarked that, that was the understanding of that time, when only serving Vice-Chancellors of universities were made chairmen. He explained that for almost two decades of the Board from 1977 to 1993, only serving Vice-Chancellors were made Chairmen of the Board, from Prof

Oladipo O. Akinkugbe, VC, University of Ilorin; Prof Donald E.U Ekong, University of Port Harcourt; Prof Adamu Baike, University of Benin; Prof Mahdi Adamu, University of Sokoto and Prof Isa B. Mohammed of the University of Abuja. The JAMB Registrar opined that the appointment of the chairman of the Board could be restricted to only heads of tertiary institutions in the country perhaps on rotational basis among the Vice-Chancellors of universities, Rectors of Polytechnics, Monotechnics and Provosts of Colleges of Education.

Obasanjo advocates partnership in fight against cancer Kunle Olayeni Abeokuta

ormer President Olusegun Obasanjo has urged the Nigerian government to partner with well-meaning and credible philanthropic organisations in the fight against cancer. He made the call while delivering his paper at a special fundraiser for the establishment of cancer

awareness and diagnostic centre, organised by a non-governmental organisation, Primus Torchbearers in Abeokuta, Ogun State. The ex-president, who spoke on the topic: "Philanthropy and Ethics: A Lesson from History," was the guest speaker at the event marking the 40th anniversary of organisation. Obasanjo said that the call became necessary in

view of recent reports that Nigeria would be having 21 million new cases of cancer with an attendant effect of 13 million deaths by year 2030. Against the backdrop of statistical evidences that the country has a significant share of the dreaded disease, he stated that there was need for joint and collaborative efforts. The former president expressed satisfaction

with the cancer awareness and diagnostic centre being championed by Primus Torchbearers in Abeokuta. He appealed to people of goodwill to support the initiative, noting that cancer diagnosis and treatment in advanced countries have largely been supported by philanthropic organisations and charity since government alone cannot bear its financial burden.

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

RETURNS ON SOURCES OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 14-10-2016 S/NO.

SOURCE 1 EXPORT PROCEEDS

DATE OF FUND PURCHASED

EXCHANGE RATE 12-Oct-16

2 CENTRAL BANK OF NIGERIA 3 OIL COMPANY PURCHASED

308.00

AMOUNT PURCHASED ($) 46,722.16

13-Oct-16

304.50

1,500,000.00

14-Oct-16

304.50

1,000,000.00

4 IMTSO

10-Oct-16

338.51

1,401.18

5 IMTSO

12-Oct-16

347.05

1,826.88 4,498.20

6 IMTSO

12-Oct-16

333.37

7 IMTSO

13-Oct-16

349.81

868.37

8 IMTSO

10-Oct-16

351.56

2,246.32

9 IMTSO

12-Oct-16

337.95

3,038.58

10 IMTSO

12-Oct-16

370.99

3,737.33

11 IMTSO

12-Oct-16

340.47

1,980.70

12 IMTSO

13-Oct-16

370.93

3,986.90 3,958.52

13 ORDINARY DOMICILLIARY PURCHASED

11-Oct-16

308.00

14 ORDINARY DOMICILLIARY PURCHASED

11-Oct-16

308.00

707.61

15 ORDINARY DOMICILLIARY PURCHASED

11-Oct-16

308.00

2,555.19

16 ORDINARY DOMICILLIARY PURCHASED

13-Oct-16

305.00

20.00

17 ORDINARY DOMICILLIARY PURCHASED

13-Oct-16

308.00

1,591.03

18 ORDINARY DOMICILLIARY PURCHASED

13-Oct-16

308.00

2,517.21

19 ORDINARY DOMICILLIARY PURCHASED

13-Oct-16

308.00

19,496.92

20 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

305.00

254.00

21 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

305.00

315.09

22 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

308.00

5,860.03

23 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

308.00

1,162.56

24 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

308.00

12,927.34

25 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

308.00

11,907.12

26 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

308.00

16,299.50

27 ORDINARY DOMICILLIARY PURCHASED

14-Oct-16

308.00

10,159.01

28 ORDINARY DOMICILLIARY PURCHASED

10-Oct-16

305.00

40.00

29 ORDINARY DOMICILLIARY PURCHASED

12-Oct-16

308.00

150,000.00

30 REPUCHASED

11-Oct-16

305.50

5,000.00 2,815,077.75

TOTAL

RETURNS ON UTILIZATION OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY, 14-10-2016 S/NO.

CUSTOMER/FXPD/NON-FXPD

ITEM OF IMPORT

DATE OF FUND PURCHASED

EXCHANGE RATE

AMOUNT SOLD ($)

1 CBN (75% MONEY GRAM 7 OCT 2016)

IMTSO

10-Oct-16

351.56

1,684.74

2 CBN (75% WESTERN UNION 6 OCT 2016)

IMTSO

10-Oct-16

338.51

1,050.89

10-Oct-16

361.00

911.87

4 STERLING BANK PLC

SCHOOL FEES COURSE FEES

11-Oct-16

315.00

1,550.93

5 CBN (75% MONEYGRAM 10 OCT 2016)

IMTSO

12-Oct-16

337.95

2,278.94

6 CBN (75% MONEYGRAM 11 OCT 2016)

IMTSO

12-Oct-16

370.99

2,803.00

7 CBN (75% SEPT INCOME 2016)

IMTSO

12-Oct-16

340.47

1,485.53

8 CBN (75% WESTERN UNION 10 OCT 2016)

IMTSO

12-Oct-16

333.37

3,373.65

9 CBN (75% WESTERN UNION 7 OCT 2016)

IMTSO

12-Oct-16

347.05

1,370.16

10 OSHINOWO ADEWALE DAISI

PTA

12-Oct-16

305.50

2,000.00

11 PAUL TAIWO ADEOYE

SCHOOL FEES

12-Oct-16

361.00

456.72

12 TOPAZ CLINIC

SCHOOL FEES

12-Oct-16

340.97

495.17

12-Oct-16

375.00

1,124.55

14 TOPAZ CLINIC

SCHOOL FEES SCHOOL FEES

12-Oct-16

375.00

15 BSV INDUSTRIES

INDUSTRIAL SPARES AND ACCESSORIES

12-Oct-16

308.50

3 PAUL TAIWO ADEOYE

13 PAUL TAIWO ADEOYE

1,693.97 7,856.61

16 EMEL ENTERPRISES LTD

EMEL BRAND COMPLETE

12-Oct-16

308.50

17 STARSONIC NIG LTD

SONIC STICKER

12-Oct-16

308.50

38,865.55

9,793.60

18 DIAMOND BANK

INTERBANK

13-Oct-16

305.00

200,000.00

19 FCMB

INTERBANK

13-Oct-16

305.00

50,000.00

20 FSDH

INTERBANK

13-Oct-16

305.00

50,000.00

21 GTB

INTERBANK

13-Oct-16

305.00

100,000.00

22 HERITAGE BANK

INTERBANK

13-Oct-16

305.00

50,000.00

23 JAIZ BANK

INTERBANK

13-Oct-16

305.00

100,000.00

24 KEYSTONE BANK

INTERBANK

13-Oct-16

305.00

50,000.00

25 SUNTRUST BANK

INTERBANK

13-Oct-16

305.00

200,000.00

26 UBA

INTERBANK

13-Oct-16

305.00

200,000.00

27 CBN (75% MONEYGRAM OCT 12 2016)

IMTSO

13-Oct-16

370.93

2,990.18

28 CBN (75% WESTERN UNION OCT 11 2016)

IMTSO

13-Oct-16

349.81

651.28

29 PAUL TAIWO ADEOYE

SCHOOL FEES

13-Oct-16

375.00

1,213.81

30 GRACE OFUANI

PTA

14-Oct-16

308.50

2,000.00

31 BIMBO OLUKOJU

PTA

14-Oct-16

310.00

2,000.00

32 SHOLA AFOLAYAN

PTA

14-Oct-16

310.00

2,000.00

33 MARIANAH INTL LINKS

BLUETOOTH INTERACTIVE PIGGYBANK,TOKENS

14-Oct-16

305.00

12.02

34 NARRATIVE LANDSCAPE

PRINTED BOOKS

14-Oct-16

305.00

50.00

35 MANCHESTER IND LTD

BOTTLE MOULDS AND SPARE PARTS

14-Oct-16

305.00

60.00

36 POLY PRODUCTS

CABLE MAKING MACHINE COMPLETE

14-Oct-16

305.00

60.00

37 SHIV LILA POLYMERS

POLYPROPYLENE HOMOPOLYMER

14-Oct-16

305.00

74.70

38 SHIV LILA POLYMERS

PLASTIC RAW MATERIAL: POLYETHYLENE

14-Oct-16

305.00

98.37

39 CONOIL PLC

TAMPER PROOF BLACK PLASTIC CLOSURE WITH LOGO

14-Oct-16

305.00

115.00

40 UTOBRAS NIG LTD

MERCEDES-BENZ BULLION VAN

14-Oct-16

305.00

150.00

41 HAMMOND AND SONS

PAVER FINISHER

14-Oct-16

305.00

164.00

42 STARTREND IND LTD

PRIME ELECTROLYTIC TINPLATE(INDUSTRIAL RAW MATERIAL)

14-Oct-16

305.00

188.33

43 INTERSWASTIK NIG LTD

PLASTIC RAW MATERIAL

14-Oct-16

305.00

191.81

44 INTERSWASTIK NIG LTD

PLASTIC RAW MATERIAL

14-Oct-16

305.00

191.81

45 MAYFAIR AGRO ALLIED

LINEAR LOW DENSITY

14-Oct-16

305.00

250.00

46 HAMMOND & SONS

BITUMEN PRESSURE DISTRIBUTOR

14-Oct-16

305.00

459.99

47 EURO GLOBAL FOODS

VARIOUS MOULDS AND ACCESSORIES

14-Oct-16

305.00

486.00

48 RITE FOODS

INDUSTRIAL EQUIPMENT MAKE KRONES

14-Oct-16

305.00

538.75

49 TG ARLA DIARY

DANO COOL COW FILLED MILK POWDER

14-Oct-16

305.00

552.59

50 STARTREND IND LTD

PRIME ELECTROLYTIC TINPLATE

14-Oct-16

305.00

574.00

51 SOMOTEX NIG LTD

MIDEA BRAND REFRIGERATOR IN CKD

14-Oct-16

305.00

578.39

52 DANIUM ENERGY LTD

GASOIL

14-Oct-16

305.00

620.00

53 DANIUM ENERGY LTD

GASOIL

14-Oct-16

305.00

620.00

14-Oct-16

305.00

637.80

14-Oct-16

305.00

670.69 714.27

54 NYCIL LTD 55 GODY JONAS ENT

TITANIUM DIOXIDE MACHINERY FOR STORAGE AND RE-PRODUCTION OF ELECTRIC CURRENT (STATIC CONVERTER)

56 JEMIMAH NIG LTD

WATER PUMPS

14-Oct-16

305.00

57 PRIMA CORP

EASTLON BRAND PET RESIN BOTTLE

14-Oct-16

305.00

742.50

14-Oct-16

305.00

860.00 870.00

58 SARO AGRO

JUTE BAGS

59 RITE FOODS

RAW MATERIAL

60 AARTI STEEL 61 IRIS SMART TECHNOLOGY

PRIME HOT ROLLEDCHEQURED STEEL

14-Oct-16

305.00

14-Oct-16

305.00

946.03

14-Oct-16

305.00

1,487.07

62 PAN NIGERIA LTD

PASSPORT BOOKLETS 15 UNITS OF PEUGEOT VEHICLES

14-Oct-16

305.00

1,847.48

63 MANCHESTER IND LTD

CABLE MAKING MACHINE COMPLETE

14-Oct-16

305.00

1,989.04

64 CHUKWUKA CHIZOB LIVINUS

SCHOOL FEES

14-Oct-16

305.00

2,400.00

65 BINANI PRINTING PRESS

AUTOMATIC EXERCISE BOOK MAKING MODEL

14-Oct-16

305.00

3,025.00

66 JONES ADEBAYO OLUGBEMIGA

SCHOOL FEES

14-Oct-16

305.00

3,511.54

67 KINGS DAVID PHILLIP

SCHOOL FEES

14-Oct-16

305.00

4,006.39

68 RITE FOODS

RAW MATERIAL

14-Oct-16

305.00

4,226.96

69 MAJIN MARY GYANG

SCHOOL FEES

14-Oct-16

305.00

4,727.92

70 FOLASADE ADEBAYO

SCHOOL FEES

14-Oct-16

305.00

4,999.94

NEWS 39

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Towards a better waste management regime in Lagos Adebayo Samuel

aste management or waste disposal has been a challenge for Lagos State government for decades. The government has adopted several strategies to manage the whopping 15,000 tonnes of garbage generated daily in the overcrowded city-state that receives immigrants almost on a daily basis from other parts of the country and beyond. Through the responsible agency, the Lagos State Waste Management Authority (LAWMA), government had in the past explored several measures such as the use of private sector players (PSP), which are facing stiff competition from the infamous but somewhat preferred cart pushers. In a bid to achieve better results, LAWMA has also attempted managing waste through characterisation, improved technology and partnering with other nations. However, only limited success has been achieved. Indeed, health hazards due to the activities of the PSPs, the ageing equipment they deploy, sharp practices by

cart pushers, and the sorry state of the waste dump sites have all colluded to put the situation in a state of desperation. The need for an urgent action to turn around the conditions cannot be overemphasised. In fact, there is the need for an elaborate and standardised regulation of the environment of Lagos State, in line with international best practices, while taking cue from locations such as the United Arab Emirates, Tanzania, Kenya, Namibia, and New York City in the United States. Lagos and New York City, for instance, are two mega cities that mean the same in terms of entertainment, commerce and global trends. While Lagos has a population of 21 million with an estimated population density of 13,405/ sq.km, New York City has a population of 23 million with a population density of 10,833/sq.km. In fact, while New York with its huge population has been able to successfully handle the massive amount of waste generated daily, Lagos, on the other hand, is struggling with storage, collection and disposal of her waste. New York has about 120

Ambode

landfills sites while Lagos has only six landfills, with only three of the six functioning. This is grossly inadequate for the Lagos metropolis, considering that she generates approximately the same amount of waste as New York does, even so, a huge percentage of this is solid waste. Asides struggling with disposal of the enormous amount of waste generated daily, Lagos has not been able to effectively collect her waste. This is exemplified as waste littering roadsides, waste being

disposed into drainages, and overflowing public bins, among several others. There is a huge gap in collection and the PSP operators obviously struggle with the huge amount of waste they have to collect. New York has successfully been able to collect her waste through several methods including government-regulated commercial waste systems in which they have over 250 commercial waste haulers, as well as dispose effectively through recycling methods and landfills. In that

part of the world, waste is wealth. In Nigeria, and Lagos to be precise, waste is a curse rather than a blessing – it’s simply a disaster waiting to happen. It has been shown that only 60 per cent of the daily waste collected in New York go to the landfills compared to about 95 per cent in Lagos. Lagos must, as a matter of urgency, start recycling as an alternative to landfilling. It has been seen that the heavy reliance on landfills has brought about environmental pollution and several health hazards to residents around the sites as seen in the Olusosun landfill, which today remains the largest landfill site in the country. The Olusosun dump site is nothing but a disaster waiting to happen and the need for a quick action from government is long overdue. The dump site at Isolo also requires an urgent intervention from the authorities. There is likewise the need to allow for a coordinated and effective private sector participation in the management of the environment, as well as the provision for an organised judicial framework for the administration of environmental laws in Lagos State

RETURNS ON SOURCES OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 14-10-2016 (contd’) 71 BYDOW INVESTMENT LTD.

SCHOOL FEES

14-Oct-16

305.00

5,000.00

72 DAHUNSI TITLAYO

SCHOOL FEES

14-Oct-16

305.00

5,000.00

73 DIKE WINIFRED CHEKWUBE

SCHOOL FEES

14-Oct-16

305.00

5,000.00

74 EGBUJOR ONYEMA LAMBERT

SCHOOL FEES

14-Oct-16

305.00

5,000.00

75 ISMAIL BECKY MOJISOLA

SCHOOL FEES

14-Oct-16

305.00

76 JOHNSON ADEOLA

SCHOOL FEES

14-Oct-16

305.00

5,000.00 5,000.00

5,000.00

77 LETSCLEAR LIMITED

SCHOOL FEES

14-Oct-16

305.00

78 OYEBANJI O AKIN

SCHOOL FEES

14-Oct-16

305.00

5,000.00

79 UGWU CHINELO JOY

SCHOOL FEES

14-Oct-16

305.00

5,000.00

80 KOLA OLAYODE & PARTNERS

SCHOOL FEES

14-Oct-16

305.00

5,224.14

81 AKINTOLA AYODEJI OLUSOJI

SCHOOL FEES

14-Oct-16

305.00

6,100.78

82 WOOLEN & SYNTHETIC

14-Oct-16

305.00

6,210.00

83 ADENIRAN MICHAEL TOSIN ADEDIRAN

SPARES FOR SIZING MACHINES SCHOOL FEES

14-Oct-16

305.00

84 BOND GLOBAL

GASOIL

14-Oct-16

305.00

7,832.43

7,130.00

85 PAUL-TAIWO ADEOYE OLUKOYA

SCHOOL FEES

14-Oct-16

305.00

7,989.67

86 TIWA N TIWA GLOBAL

TITUS BRAND CEILINGS,HEAT INSULATOR AND PLASTER BOARD

14-Oct-16

305.00

8,882.00

87 MUDATHIR L

SCHOOL FEES

14-Oct-16

305.00

8,909.42

88 AFRO BALA NIG LTD

GRANITE TILES

14-Oct-16

305.00

11,118.00

89 RITE FOODS

14-Oct-16

305.00

11,800.00

14-Oct-16

305.00

12,400.00

91 MAINLAND OIL

POLY VINYL CHLORIDE RESIN MOGAS

14-Oct-16

305.00

92 SAM PHARM

RAW MATERIAL FOR PLASTIC INDUSTRY

14-Oct-16

308.50

15,000.00

90 MATECO INDUSTRIES

RAW MATERIAL

12,934.77

93 PJS PRODUCTS LTD

RAW MATERIAL

14-Oct-16

305.00

23,970.20

94 MEGA PLASTIC

MASS TRANSIT BUSES WITH SPARE PARTS

14-Oct-16

305.00

30,000.00

95 PRIMERO TRANSPORT

ARTIFICIAL RESIN

14-Oct-16

305.00

30,000.00

96 QUARTZ DIGITAL LTD

POLYCARBONATE RESIN

14-Oct-16

305.00

37,600.00

97 SOLPIA NIG LTD

ARTIFICIAL FILAMENT

14-Oct-16

308.50

40,000.00

98 BEAUMONT AROMATICS

AGRICULTURAL/CORN GRINDING MILL

14-Oct-16

305.00

43,200.00

99 AARTI ROLLING IND

CAPITAL MACHINERY -VARIOUS COMPONENTS

14-Oct-16

305.00

55,000.00

100 SUNCHEM INDUSTRIES LTD

INDUSTRIAL RAW MATERIAL

14-Oct-16

305.00

85,000.00

101 SPRINGFIELD AGRO

INDUSTRIAL CHEMICAL RAW MATERIAL

14-Oct-16

308.50

100,000.00

102 MAINLAND OIL AND GAS

GASOLINE

14-Oct-16

305.00

1,000,000.00

TOTAL

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

2,744,650.95

in order to make this happen. Similarly, there is the need to explore newer methods of collection to help effectively handle the waste generated. Other collection agencies need to be employed as it is obvious that the PSP operators alone can’t handle the massive amount of waste. The Akinwunmi Ambode administration should tackle this hydraheaded problem without minding whose ox is gored. The speed and enthusiasm with which the present administration tackled the Light-up Lagos initiative should be deployed to combat this age long problem that has now grown to become a monster. The recent clean up exercise embarked upon in highbrow areas of Lagos like Victoria Island, Lekki and Ikoyi should be extended to the waste management sector. Government must, as a matter of urgency, seek help from those who have managed waste in mega cities around the world, while bearing in mind the nation’s – and the state’s – peculiar solid waste generation status. *Samuel, an environmental rights activist, writes from Ojota, Lagos

NEWS | south-west

Babatope Okeowo Akure

over norship candidate of the All Progressives Congress (APC) in Ondo State, Mr Oluwarotimi Akeredolu yesterday promised to ensure that local government election was conducted within weeks after he assumes office as the governor of the state. Akeredolu who said he

monday, october 17, 2016 NEW TELEGRAPH

I’ll ensure democracy at LG level –Akeredolu would succeed the incumbent Governor Olusegun Mimiko, assured his supporters that people’s welfare was given priorities should he become the next governor of the state come February. Akeredolu said: "This state is what matters to us; some of us have come into politics not because we have nothing to do. We have come to show what I call good governance. Some of us, we have been

leaders before now. This is just an opportunity for us to serve the people of this state. "Now that we have one party, we have one candidate; I believe we should have one voice. We will fight for the people of this state. We will run a state where the welfare of the civil servants will be top priority. We cannot compromise it. "From the day we come in, we will not owe sala-

Osun monarchs rehabilitate Iwo/Osogbo road Adeolu Adeyemo Osogbo

wo Osun State monarchs, Oluwo of Iwoland, Oba AbulRasheed Adewale Akanbi, Telu 1 and Olu Owu of kuta, Oba Ahmed Adekunle Oyelude took over the neglected Iwo/Osogbo road as they flagged off rehabilitation of the road to boost the economy of the two towns. They however appealed to the state governor, Mr. Rauf Aregbesola, to consider the road as soon as the state economy im-

proves. The monarchs, who mobilized their subjects as early as 8.00 a.m on Saturday, said they were determined to revive commercial activities in the neighbouring towns by rehabilitating the neglected road. Speaking on the rehabilitation of the road, Oluwo of Iwo, Oba Akanbi, expressed optimism that works would commence today on the road as the two neighbouring towns had concluded arrangement to rehabilitate the once motorable road. Oluwo said: "I have

resolved with other monarchs to begin the rehabilitation of the road because of the untold hardship the people of the area are experiencing. "The road is strategic as it is the gateway into Oyo state from Osun and apart from this, the deteriorating condition of the road has crippled the economy of the area. "The community selfhelp effort is a temporary measure and materials like cement and stones that would be used in filling up deep gullies and pot holes on the road will be provided.

ries. We might not be able to pay arrears right away. It will soon be a thing of the past that we will ever owe salary. It will soon be a thing of the past that most civil servants are almost never paid leave allowances." As a democratically elected governor, Akeredolu said he would ensure that democracy was entrenched at the third tier of government. "Why runs a caretaker local government if you cannot run a caretaker state government? He said.” Akeredolu however promised to ensure that dividend of democracy would get to the grass roots if elected as governor of the state as one of the ways grass roots people were being denied good governance was through constitution of local government caretaker committees. He said: "The welfare of workers will be our top priority. We will ensure we pay all the salaries and arrears. We won't owe salary. We know there is no money anywhere. We know that the

PDP crisis: Court's order derails peace move Onyekachi Eze ABUJA

ntil Friday's judgement of an Abuja Federal High Court, which ordered the Independent National Electoral Commission (INEC) to recognise Jimoh Ibrahim as candidate of the Peoples Democratic Party (PDP) for next month's governorship election in Ondo State, the party had intensified peace moves among warring factions. But the judgement delivered by Justice Okon Abang had threatened the ongoing reconciliation process in the party.

The two factions in the five months leadership crisis - the Senator Ahmed Makarfi-led National Caretaker Committee and the Senator Ali Modu Sheriff faction, had scheduled Tuesday for the inauguration of a 28-man peace committee for the reconciliation process. Justice Abang had on Friday, in a bid to re-inforce his earlier verdict that Sheriff should remain the PDP National Chairman, ordered INEC to recognise Jimoh Ibrahim, as the party’s candidate for the November 26 governorship election in Ondo State. The electoral umpire had already accepted Mr.

Eyitayo Jegede, SAN who emerged from party primary conducted by Ahmed Makarfi-led National Caretaker Committee, as PDP candidate for the election. Ibrahim emerged from another primary conducted by Senator Ali Modu Sheriff faction. There has been disquiet in Makarfi camp since the court order, with some describing the peace move as ill-fated. The faction had reacted immediately through its spokesperson, Prince Dayo Adeyeye. Adeyeye in a statement, affirmed that Jegede remained the party's candidate for the election, arguing that the matter

before Justice Abang was in respect of 2019 general elections. Sheriff had, a day before the recent court order, insisted that Jimoh Ibrahim was the party's candidate for Ondo governorship. "As a party, we have taken our decision, we have chosen Jimoh Ibrahim as our candidate and whatever the law says we would follow it. We are products of the rule of law," he said at a press conference. A former national officer of the party, Alhaji Abdullahi Jalo described the ongoing peace process as a mockery except all the cases in court are withdrawn.

Babatope Okeowo

bers of the executive over the candidate of the party also met late on Saturday and described their action as regrettable. Some of the NEC members including Alhaji Magaji Kwairanga, National Vice Chairman, North East, Sagir Ahmed Ali, Deputy National Treasurer, Samual Kato, Kaduna State Chairma, Abdulahi Ibrahim National Organisin Secretary, Yohanna Pam Plateau State Chairman and Alhaji Inua Zakari Zamfara state among others reaffirmed the candidacy of Oke for the governorship election blaming their action on external forces wishing to thwart the victory of the party.

Rep seeks 10% tax on barley sugar Oke is our candidate, says AD NEC Kunle Olayeni Abeokuta

House of Representatives member, Oladipupo Adebutu, has called on the Federal Government to impose a 10 per cent tax on barley concentrates as a way of discouraging their importation into the country. Adebutu, representing Remo Federal Constituency in Ogun State, said this was imperative so as to save Nigeria’s sorghum processing industries from imminent closure and loss of jobs. Adebutu, who spoke in Abeokuta, the state capital, explained that he had made similar call during his presentation of a mo-

tion entitled 'Urgent Need to Save Nigeria’s AgroIndustry from Imported Processed Grains' on the floor of the lower legislative chamber. He said: "However, Nigeria’s sorghum production and value chain has been hit hard with a change in policy and the five per cent waiver granted to multinational brewing firms who import barley concentrates and malt from their parent companies. "This is adversely affecting local sorghum farmers and malting plants as well as increasing the rate of capital flight and supporting jobs in the European Union-subsidised agricultural sector to the detriment of Nigeria."

Akure

ational Executive Council (NEC) of the Alliance for Democracy (AD) yesterday made a detour and confirmed Chief Olusola Oke as the party’s candidate for the November 26 governorship election in Ondo State barely 24 hours after its rejection of Oke’s candidacy. It however said its members were misled to reject Oke as the party’s candidate for the election. AD NEC members who had met on Friday and passed a vote of no confidence on the National Chairman and some mem-

debt of the state is scaring but we are not scared be-

cause we have crack men that will do the job.

CONFIRMATION/change OF NAME

Nwanekezi

I formerly known and addressed as Kizzi Chizzy Roseline now wish to be known and addressed as Nwanekezi Chioma Roseline. All former documents remain valid. UBA Plc, Ecobank Plc and the general public take note.

Ugochukwu

I, formerly known and addressed as Miss Obiageli Benita Enyendu now wish to be known and addressed as Mrs. Obiageli Benita Ugochukwu. All former documents remain valid. Sterling bank Plc, Access bank Plc and the general public should take note.

Akenzua

I, formerly known and addressed as Grace Ovouroborie Akarogbe now wish to be known and addressed as Mrs. Grace akarogbe anthony Akenzua. All former documents remain valid. UBA Plc and the general public should take note.

Abonyi

I Abonyi, Johnpaul Enyinna, of the Federal University, Otuoke, Bayelsa State wish to henceforth be known and called Abonyi, Nnanwike Johnpaul. All documents pertaining to the old name however remain valid. Federal University Otuoke, BVN, Diamond Bank, Untied Bank Africa UBA and GTBank should take note.

Eze

I, formerly known and addressed as Agbo Onyinyechi Maureen now wish to be known and addressed as Eze Onyinyechi Maureen. All former documents remain valid. Banks and general public take note.

Onuoha

I, formerly known and addressed as Okeke Emmanuel Kelechi now wish to be known and addressed as Onuoha Kelechi. All former documents remain valid. General public take note.

MIRIAM

I, formerly known and addressed as Nezzy Muktar Omeiza now wish to be known and addressed as Miriam Itama Omeiza. All former documents remain valid. General public should take note.

Anake

I formerly known and addressed as Abobo Agnes Ufarkpe now wish to be known and addressed as Anake Agnes Ufarkpe. All former documents remain valid. First bank Plc and general public take note.

Okoro

I, formerly known and addressed variously as Margret Divine Okoroeni and Okoro Margret now wish to be known and addressed as Okoro Margret. All former documents remain valid. First bank Plc, Fidelity bank Plc and the general public should note.

Otiotio

I, formerly known and addressed as Wakaebinyo David Otiotio now wish to be known and addressed as Mr. Wakaebinyo Otiotio. All former documents remain valid. First bank Plc and the general public should please take note.

Oyekanmi

I, formerly known and addressed as Olwale Sefiyat Olanike now wish to be known as Oyekanmi Sharon Olanike. All former documents remain valid IITA, BANKS and general public take note.

Bolaji

I, formerly known and addressed as Miss Abimbola Olubisi Akinyinka now wish to be known and addressed as Mrs. Abimbola Olubisi Bolaji. All former documents remain valid. NYSC, Banks and general public take note.

BASSEY

I, formerly known and addressed as Victor Ndubuisi Okorogu now wish to be known and addressed as Victor Itama Bassey. All former documents remain valid. General public should take note.

ETTE

I, formerly known and addressed as Iquo Atainyang Bassey now wish to be known and addressed as Blessed Edimfon Ette. All former documents remain valid. General public should take note.

PUBLIC NOTICE

THE PHILADELPHIAN CHRISTIAN OUTREACH

This is to inform the general public that the above named has applied to Corporate Affairs Commission for registration under part "C" of the Companies and Allied Matters Act 2004. The Trustees are: 1. Pastor Hyacinth Chirota Ezeamaka – General Overseer 2 Pastor (Mrs) Sandra Mfon Ezeamaka - Secretary 3 Pastor Edward Ikem AIM AND OBJECTIVE ARE: 1. To preach the gospel of our lord Jesus Christ 2 To plant churches worldwide 3 To train believers in the Bible based Christian life. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. SIGNED: TRUSTEES

PUBLIC NOTICE

LIGHT OF HIS WORD AND POWER EVANGELICAL MINISTRY

This is to inform the general public that the above named has applied to Corporate Affairs Commission for registration under part "C" of the Companies and Allied Matters Act 2004. The Trustees are: 1. Evangelist (Mrs) Oladipo Olorunsomo Rhoda – General Overseer 2. Elder Timothy Ishola Oladipo - Secretary 3. Pastor Oladipo Muideen Akinjide 4. Pastor Fuwape Folarinwa Felix - Member 5. Apostle Omagbemi Kehinde Anthony AIM AND OBJECTIVE ARE: 1. To preach the gospel of our lord Jesus Christ 2. To establish gospel mission centers in harvest regions of the world for mission manpower development 3. To provide compassionate help for the under priviledge, the inmate, motherless and poor PSALM 42: 1-3. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. SIGNED: TRUSTEES

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

south-EAST

MASSOB flays Igbo leaders for abandoning Biafra struggle Charles Onyekwere ENUGU

ro-Biafra group, the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB) has flayed Igbo religious, traditional, political and opinion leaders for their ‘nonchalant and insensitive attitude’ towards the plight of detained Biafra agitators in Nigeria prisons. MASSOB leader, Comrade Uchenna Madu, in a statement called on “every right thinking Igboman, especially, Igbo leaders”, to join the liberation struggle. The statement also said that the Biafra struggle was a reactionary revolution against marginalisation of the Biafran people

living in Nigeria especially the supposed attempt to Islamise the Biafrans who were predominantly Christians. It said: “The non-violence struggle for Biafra is a reactionary revolution against the continued neglect, political injustices and imbalances of federal structure against Ndigbo by successive governments of Nigeria since 1970. “We are in this selfdetermination struggle because of political, economic, academic, religious slavery which the government of Nigeria subjected Ndigbo into in Nigeria. “MASSOB and other genuine pro-Biafra groups are in the Biafra struggle because of the grand plan to islamise the people of

Biafra with subtle and harsh economic policies against Biafrans.” “We are in the struggle to counter and correct the evil plot to enslave our children and their future. “We are in the struggle to re-establish and revive the tenacity, economic independency and industrial nature of Ndigbo which astonished the world in 1950-70s. “Truly, we are in the struggle to restore the dignity, culture and integrity of Ndigbo. In this struggle, numerous sacrifices have been made, supreme prices being paid. We have been tortured, mesmerized, killed, incarcerated for the sake of Biafra and glory of Ndigbo yet we are neglected, abused and abandoned by people who benefit from our exploits.”

L-R: General Manager GOtv, Akinola Salu; Mrs. Uche Lilian Nweke and wife of Enugu State Commissioner of Lands and Urban Development, Mrs. Ogochi Onah, during GOtv’s 5th Anniversary Customer Fair held at DE DOME, Enugu State…at the weekend

Police confirm soldiers’ clash in Abakaliki

he Ebonyi Police command has confirmed the clash between its officers and the soldiers from the Nigerian Army Cantonment, Nkwagu, near Abakaliki, on Saturday evening. The Police Public Relations Officer (PPRO) in the state, DSP George Okafor, confirmed this to the News Agency of Nigeria (NAN) on Sunday in Abakaliki. Okafor said that the matter had, however, been resolved amicably. According to him, the clash was unfortunate and efforts had been made by the two agencies to forestall such occurrences in future.

“The matter has been peacefully resolved and we urge the public not to panic over the development but be assured of their safety at all times,” he said. Okafor, who declined further comments on the issue, also failed to confirm whether police officers involved in the clash sustained injuries. Aneyewitness,whospoke on the condition of anonymity, told NAN that the incident occurred at No. 1, Water Works Road, Abakaliki. “Trouble started when a police patrol team on road check requested for the identity cards and vehicle particulars of army

Ekweremadu, others commend Ugwuanyi over N2.1bn projects

ommendations poured in for Governor Ifeanyi Ugwuanyi of Enugu State at the weekend as he flagged off the execution of 35 projects worth N2.1 billion across communities in the 17 Local Government Areas of the state. All the projects are to be delivered not later than December 2016.

Deputy Senate President, Senator Ike Ekweremadu, speaking at Aninri, his home Local Government Area, venue of one of the flag off programmes, extolled Ugwuanyi’s governance style that is gradually, for the first time in many years, making all the parts of the state feel the impact of governance of their state.

officers from the Nkwagu military cantonment. “The soldiers rode a tinted Toyota Camry car with registration number BWR 886 AE and a black Toyota Jeep with the inscription of ‘Bride’ used to convey a newly wedded couple. “The soldiers, who were in their uniforms except one personnel, told the police team they were returning from a wedding and felt embarrassed by their request for the documents. “At this point, one of the police officers stopped the soldiers from passing and the latter angrily fired sporadically into the air,” he said. According to him, the people of the state residing in rural areas would by the execution of the various projects flagged off, going on or completed have a new lease of life in various ramifications while rural to urban drift can now be practically checked. Political and opinion leaders as well as traditional rulers, expressed surprise that despite recession, Ugwuanyi had continued to execute gigantic capital projects.

south-SOUTH

Coronation :Benin Crown Prince visits Azama ‘N Uhe ancestral shrine

he Crown Prince of Benin Kingdom, Prince Eheneden Erediauwa, yesterday, left Evuekoi for Azama N’ Uhe ancestral shrine at Oloton’s Palace in Isekhere Street, Benin, to perform traditional rites. Earlier, the prince had engaged in a mock wrestling match, which symbolised ‘wrestling’ with the Chief Priest of

Okhuaihe shrine, Osarodion Usuanlele, the Ohen N’ Ukoni Neyedo. The Okhuaihe shrine is located in Evbuekoi in Uhunwode Local Government Area of the state. After the symbolic wrestling match, both of them went opposite ways never to see each other again once the crown prince becomes the Oba. Okhuaihe Chief Priest would not enter the city of Benin again

Militants strike again, bomb another oil facility Dominic Adewole ASABA

he factional militia group, the Niger Delta Greenland Justice Mandate, has bombed another oil installation with its Akuma Strike Team in Ughelli axis of Delta state. The delivery line takes oil from Oviri-Ogor to the Quality Control Centre (QCC) in Ughelli, belonging to the Nigeria Petroleum Development Company (NPDC). This came barely 48 hours after the group bombed the company’s QCC in Iwhremaro axis of the state. Prior to yesterday attack, the militia group had destroyed five pipelines, including the Afiesere - Ekiugbo shoreline in Ughelli, being operated by the company, the major trunk/delivery line that takes oil from Isoko to the Eriemu Manifold in Urhobo land and the major trunk/delivery line

of the same oil firm in Udu Local Government Area of the state. The spokesperson for the group, Gen. Aldo Agbalaja, in a statement entitled, ‘The whirlwind has taken another one’, said the attack was in furtherance of the execution of Operation Hammurabi Code of the Akuma Strike Team. “We have just brought down the Oviri-Ogor Delivery line to the QCC in Ughelli. This is a message to, not just SHORELINE and NPDC, the cooperators of this facility, but to all of you who own facilities in the upland area of our land and still believe in the arms of flesh. “This shall be the state of affairs until all of you adjust to taking our land and the lives of our people seriously. The Niger Delta Greenland Justice Mandate is not kidding with anybody and anybody should not think this is just one of those coming around to beg for a morsel of bread.”

Artistes storm Owerri for 2016 Niger Delta Development Forum

werri, the Imo State capital is set to play host to Tee Mac, Hilda Dokubo and Monalisa Chinda as the trio are billed to attend the fifth edition of the Niger Delta Development Forum (NDDF) fixed for October 19 and 20, October 2016. The 2016 NDDF, sponsored by the Foundation for Partnership Initiatives in the Niger Delta (PIND) in collaboration with the Imo State government and the Market Development for the Niger Delta (DAI -MADE) has the theme; “Towards Self-Sustaining Development in the Niger Delta: Narrating and Showcasing a Re-Imagined Niger Delta.” The three artistes have contributed immensely to the development of the Niger Delta and have been instrumental in highlighting the challenges faced by the in-

habitants of the region. Tee Mac, Nigeria’s multitalented maestro Concert Flutist with cross-cultural Itsekiri and Swiss roots, has for years, been deeply involved in promoting dialogue in the Niger Delta. Dokubo is an award winning Nigerian actress, a filmmaker, activist, entrepreneur, life coach and Executive Director, Centre for Creative Arts Education (CREATE), a one-stop support centre for women and youths, based in Port Harcourt. Chinda is a household name in the Nigerian movie industry with appearances in over 80 movies. An Ikwerre from Rivers State, she is an acclaimed TV producer and the host of the popular Talk Show ‘You & I with Monalisa.’ She is involved in several advocacy projects and also UN Ambassador.

and whenever the Oba wants to pass through the vicinity, the chief priest would leave the area completely. The News Agency of Nigeria (NAN) reports that the crown prince visited the chief priest and both of them proceeded to the sacred forest in the community to perform some rites. NAN reports that te crown prince will be installed Oba on Thursday.

Cult war claims four in Rivers Emmanuel Masha Port Harcourt

t least four people were feared killed while several others were injured at the weekend following a clash by rival cult groups in Akporo-Sogho community in Khana Local Government Area of Rivers State. The clash also saw the cult groups burn down several houses, forcing residents of the area to flee the community. Sources said that various dangerous weapons were freely used by the cultists, some of who went house-to-house in search of rivals, who were said to have fought back defending their territory. The authority of Khana Local Government Area has confirmed the attack in Akporo-Sogho community by suspected cultists, appealing for calm and orderliness. Chairman, Caretaker Committee of Khana Local Government Area, Baridah Nsaanee, led a team of security personnel in the company of Bori Divisional Police Officer, Cletus Omuoke, to inspect the damages done during the clash. The chairman also appealed to the people of Akporo-Sogho community to allow security agencies to fish out the suspected cultists. He also warned cultists in the area that the amnesty offered to them by Rivers State Government would not shield them from prosecution, if they returned to crime. It will be recalled that the amnesty committee rejected the weapons surrendered by cultists in Khana Local Government Area when it took the programme there, citing the poor quality of arms surrendered by suspected cultists and criminals. Meanwhile, the paramount ruler of AkporoSogho community, Abel Abalubu, has appealed to Khana council and the police to ensure the presence of security personnel in the community to prevent further killings in Khana.

News|NORTH

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Oil exploration: Dankwambo directs ministries to work with NNPC Willie Danjuma Gombe

ombe State Governor, Ibrahim Hassan Dankwambo, has directed two ministries to work alongside the Nigerian National Petroleum Corporation (NNPC) in ensuring the success of oil exploration in the

Cephas Iorhemen MAKURDI

enue State Gover nor, Samuel Ortom, yesterday vowed not to interfere in the selection of traditional rulers in the state. He said he would not soil his hands in the process of selecting first class chiefs and other traditional rulers as provided for in the amended appointment of chiefs bill recently signed into law by the state House of Assembly. Governor Ortom, who made the promise while speaking at a thanksgiv-

state. Dankwambo, who expressed his excitement and the state over the development, lauded President Muhammadu Buhari for the pragmatic move to rigorously commence exploratory activities in the Gongola Basin and other Frontier Inland Basins, stressing that the move would further grow the nation’s oil

and gas reserves. He said this at the weekend when the Group Managing Director of the NNPC, Dr. Maikanti Batu, paid him a courtesy call as part of activities to commence the exploration of oil in Gombe and Bauchi states. Governor Dankwambo directed the state Ministry of Science and Technology as well as

that of Minerals Development to take advantage of the situation and offer all assistance needed to the NNPC to ensure the smooth takeoff of the project. Speaking earlier, Baru said the NNPC was deploying state-of-the-art technology in data acquisition and the corporation was confident that these efforts would

lead to clearer definition of the basin. He said: “In strict compliance to President Muhammadu Buhari’s mandate, NNPC has therefore commenced activities in the Gongola Basin by awarding the contract for seismic data acquisition of over 500KM2 3D seismic data in the first instance. He said the contrac-

tors awarded the contract for the seismic data acquisition in the Gongola Basin, Integrated Data Service Limited (IDSL), a subsidiary of the NNPC and Bureau for Geophysical Prospecting, a subsidiary of Chinese National Petroleum Corporation (BGP/CNPC), were mobilised to commence the project.

Sanusi calls for unity among Ortom: I’ll not interfere in traditional rulers’selection process Muslims ing service organised in his honour at the Redeemed Christian Church of God (RCCG), Mercy Land Parish, near NUJ House, Makurdi, said a three day-fasting and prayer session had been declared in the state for a transparent selection process. He said a new Tor Tiv was yet to be installed since the last paramount ruler, Dr. Alfred Akawe Torkula died, and explained that the threeday prayer would erase

the era of some people using witchcraft to install chiefs. The governor said selected representatives of the chiefs from various part of the state would converge on the Chapel of Grace at the Government House, Makurdi, for the final prayer. He asked the people of the state to pray for his administration to succeed, stressing that his determination for success would not be compromised.

Earlier, Resident Pastor of the Church, Aderemi Folasayo, said in a sermon that any plan against the Ortom administration would be leaked like Mordecai detected the plan against Esther in the Holy Bible. Folasayo said God would set a table for Governor Ortom in the presence of those that plan to cause a setback for his administration, and urged Benue people to be part of his success story.

Members of Frendz Unite Association of Nigeria during a rally to mark World Breast Cancer Day in Kaduna … yesterday. PHOTO: NAN

Yekeen Nurudeen Abuja

he Emir of Kano, Muhammadu Sanusi II, yesterday charged Muslims across the country to be united in order to be able to contribute meaningfully to the society. He lamented that the non-adherence to the dictates of Islam by Muslims was responsible for their failure to use the guidance of Islam to better the lots of the society. The Emir gave the charge in Abuja during his turbanning as the President-General of the Jamiyyatu Ansariddeen Attijaniyya Nigeria. The event was part of activities of the national retreat and inauguration ceremony of the organisation. “I enjoined you to be committed to this noble cause of this association and Islam. I accepted my nomination as its President-General,” Sanusi

£1.08m

The monthly salary of Yaya Toure of Manchester City in 2014/2015. Source: Paywizard.co.uk

said. He also recalled that his late grandfather as the Emir of Kano received the founder of the Tijaniyya Sheik Ibrahim Niass, when he first visited Nigeria. Adamawa State Governor, Umar Jibrila Bindow, represented by the Secretary to the State Government (SSG), Dr. Umar Buba Bindir, lamented that members of the Organisation of Islamic Conference (OIC) were classified as third world countries despite the abundance of human and natural endowments in those countries. He urged Muslims to prioritise skill-based education and be united to develop their societies, countries and contribute to world development. Bauchi State Governor, Muhammad Abdullahi Abubakar, represented by the states’ SSG, Bello Shehu Ilelah, urged Muslims to go beyond rhetoric and act to change the fortunes of the citizens.

128,956

The number of fixed-telephone subscriptions of Bahrain in 2001. Source: Itu.int

I’m still alive, hale and hearty, says man with 97 wives Why Kogi gov moved against pilgrims’ board chair, by DG

Dan Atori

ogi State government yesterday gave reasons why it moved against the Chairman of the state Muslim Pilgrims’ Welfare Board, Alhaji Sadiq Mohammed Rabiu, saying that his travails were not unconnected with allegations of fraud and the dehumanising treatment meted out to the 2016 pilgrims from the state during this year’s hajj. The Director-General, Media and Publicity, Office of the Kogi State Gover nor, Kingsley Fanwo, gave this indication while speaking

yesterday in Lokoja, the state capital. In a chat with newsmen, the governor’s spokesman said the travails of the chairman stemmed from allegations of corruption, nepotism and blatant disregard to the welfare of the state’s contingents to this year’s pilgrimage in Saudi Arabia. According to him, Governor Yahaya Bello set up an investigative panel to probe the activities of the Muslim Pilgrims’ Board chairman after receiving complaints from the pilgrims who were subjected to dehumanising

conditions in Mecca. “It will be recalled that the governor made adequate provision for pilgrims who performed this year’s hajj in the holy land, but to his surprise, contingents from Kogi State were subjected to dehumanising conditions. “Consequent upon receipt of complaints of fraud against the chairman, the governor set up an investigative panel to probe the activities of the board in relation to this year’s hajj exercise which resulted in startling revelations. “It has been estab-

lished that pilgrims from the state were kept in substandard hotels in Mecca, prompting many of them to sleep outside the hotel. Also, many of the pilgrims were shortchanged by the chairman of the board. “The decision of the chairman to discreetly include his relations and friends on the pilgrimage while hiding same from government was also at variance with the policy of the administration in the state which places emphasis on accountability, probity and transparency,” Fanwo said.

MINNA

he popular Nigerian with over 90 wives, Muhammadu Bello Abubakar Masaba Bida, has condemned reports making rounds in some section of the media that he is dead. He said that “it is the work of my detractors”. Some section of the media have be awash with rumour that Masaba Bello, who had worked as a teacher and Imam during his life died few days ago after an unknown sickness in his Bida home. However, Masaba, who spoke directly on the telephone with our Correspondent on Sunday, said he was very much alive and doing what God asked him to do.

The Octogenerian, who spoke sarcastically after his Personal Assistant, Salawudeen Bello told him a Journalist was on telephone and wanted to confirm if he was still alive, said, the rumour was baseless and that he was neither sick nor dead. “My son, I am very much alive, hale and hearty. This rumour is baseless. It is the work of my detractor because they are envious of what God is using me to do in the lives of people. I am seated outside and I am talking with you live and direct from my house in Bida. “What I am doing is divine. It is an assignment and I will keep doing it till the end of time. I just want to advise those fighting against me to stop because such people are waging war against God, their creator.”

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 14-OCT-2016 This Publication; Mandated by the Central Bank of Nigeria (CBN)

BANK: ECOBANK NIGERIA LIMITED SN

CUSTOMER

DATE OF FUND PURCHASE EXCHANGE RATE

AMOUNT

1 2 3 4 5 6 7 8 9 10 11

DIAMOND BANK OBI CHUKWUEMEKA STEPHEN ABIMBOLA PASEDA AJIBEWA ADEREMI HAMZAT HELEN ADEOLA FULLER ESUABANGA ONOYOM JAMES MOSES NINYIO VARIOUS BDC DIAMOND BANK SUNTRUST BANK UBA

INTERBANK INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE BDC INTERBANK INTERBANK INTERBANK

10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16

305.50 375.00 375.00 375.00 375.00 375.00 375.00 375.00 305.25 305.25 305.25

100,000.00 3,260.00 15,049.20 5,405.60 1,570.13 1,148.00 1,997.00 141,110.23 200,000.00 200,000.00 200,000.00

142 143 144 145 146 147 148 149 150 151 152

12 13 14 15 16 17 18 19 20 21

FIDELITY BANK ZENITH BANK UNION BANK FSDH CORONATION BANK CITIBANK UNION BANK ROYAL OIL AND GAS LTD ROYAL OIL AND GAS LTD ADERINTO TOKUNBO FRANCIS

INTERBANK INTERBANK INTERBANK INTERBANK INTERBANK INTERBANK INTERBANK GASOIL GASOIL INVISIBLE

11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16

305.25 305.25 305.25 305.25 305.25 305.25 305.25 305.25 305.25 375.00

50,000.00 50,000.00 50,000.00 50,000.00 50,000.00 50,000.00 150,000.00 62,667.52 117,332.48 6,636.94

22 23 24 25 26 27 28 29

BASSEY FELICIA GBADAMOSI OLANREWAJU BEJIDE BABATOPE ECOBANK NIGERIA LIMITED TOLULOPE LONGE MARKE DANIEL MATHEW MARINE ENERGY AND INVESTMENT LIMITED CROSS RIVER UIVERSITY OF TECHNOLOGY

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

30 31 32

CROSS RIVER STATE UNIVERSITY OF TECHNOLOGY TRUVALU LIMITED TRUVALU LIMITED

INVISIBLE INVISIBLE INVISIBLE

11-Oct-16 11-Oct-16 11-Oct-16

33 34

UTI CHIMDINMA GLORY ORDOR SOTONYE LIZZA

INVISIBLE INVISIBLE

35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80

CROSS RIVER STATE UNIVERSITY OF TECHNOLOGY TIJANI FOLUKE IBE OGU HENRY GBOLADE OLUSHIJIBOMI TOLULOPE ADEOYE-LANIYAN TOKUNBOH PAUL ECOBANK NIGERIA LIMITED OMENKEOMA CHRISTOPHER E.U. BENJI AKANO LTD OMOLODUN RISI OMOLODUN RISI LAGUNJU DOLAPO NWOSU BERNARD FRANK CHUKS OKON MARYMAGDALENE GODWIN OKON MARYMAGDALENE GODWIN AKAHARA ESTHER ONYINYECHI (HIS GLORY HOSPITAL AND MATERNITY LIMITED) PERFECT CHILD SCHOOL WEY EMMANUEL BABATUNDE ECOBANK NIGERIA LIMITED ECOBANK NIGERIA LIMITED OPARA INNOCENT BENIBO VICTORIA OSCAR EMERIBE PATRICK NNAJI AKPAN PETER BENEDICT HISBREATH INTERNATIONAL LIMITED RAYMOND MCLLOYD WILCOX ADEOYE-LANIYAN TOKUNBOH PAUL EDEKI OLAYEMI EDEKI OLAYEMI EDEKI OLAYEMI ABDULRASHID SHEHU ADEKWU OMOCHI ABIMBOLA PASEDA ABIMBOLA PASEDA ADEJUMO ADEREMI AHOLU BODUNRIN THEOPHILUS JOCELYN KAKA BABA SONAIYA EBENEZER EBUN OSUNBADE EMMANUEL OLUWASEUN ODJEGBA PATRICIA ADEBAYO MUHAMIN ADEKOLA ALIOGO PETER NKECHUKWUYEM NMEZI MAUDELINE NNENNA AKINRODOYE FADEKEMI WUNMI OGUNLEYE OLUSEGUN SAMSON ERIVONA OYOMA EMMENUEL SARO AGRO SCIENCES LTD

MODEL STEEL INDUSTRIES LTD

82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111

BUA SUGAR REFINERY FIDELITY BANK VAN OORD NIG LIMITED SUNTRUST BANK SUNTRUST BANK TARIAH JEMINA FRED ONIANWAH CHUKWUGOZIAM BALOGUN LATEEF OLUTAYO OLAYEMI OLUSEGUN OYEBOLA WILLIAMS ENO EFFIONG LAWAL MUYIDEEN .O OKOLO IFEANYI JOSEPH SIENE ALLWELL-BROWN SIENE ALLWELL-BROWN OGUNBAMBI LOLADE OGUNBAMBI LOLADE AWOTIKU AKINRINADE EMMANUEL AHMED RUFAI SHEHU EDET SAVIOUR NSE SOETAN AINA O DIKE CHIKA STELLA ADEDEJI BASHIR ARIAGA CLIFF ALEGBELEYE OLANREWAJU MICHAEL UDO, ONYEDINMA ANYA DOLAPO AJAYI ECOBANK NIGERIA LIMITED ATINMO OLABISI PERFECT CHILD SCHOOL AWOLESI OLANIKE ALICE OLATUNDE JOSHUA OLADELE (OBANLA MUYIWA OLUWAJUWONLO) EBUBEDIKE ELIZABETH GARUBA DORIS ENE AKPILA SCOTT BERNARD (SABENA GLOBAL SERVICES LTD) PASTOR JOSHUA DOKAH ADEDOYIN TITUS DISNEY SCHOOL OGUNJIDE OPEYEMI EGWU SUNDAY OGBONNAYA EMILE SAGNA EBUBEDIKE ELIZABETH ORDU PRECIOUS AZUOMA AKINDELE VIVIAN ACCESS BANK PTA PTA AFTRADE NIGERIA LTD ROYAL OIL AND GAS LTD SADIQ IYANUOLUWA ONABOWALE SHITTU OLUWASEUN OTHNIEL REV FAMOUS DJANERE ORDOR SOTONYE LIZZA DISNEY SCHOOL ETUKUDOH ALFRED UMOH UMARU SULEIMAN LERE ADEDOYIN TITUS OGUNNIYI OLAWEPO AREMU OGUNNIYI OLAWEPO AREMU CROSS RIVER UNIVERSITY OF TECHNOLOGY CROSS RIVER UNIVERSITY OF TECHNOLOGY

112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141

ITEM OF IMPORT

CUSTOMER

DATE OF FUND EXCHANGE RATE PURCHASE 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00 13-Oct-16 375.00

ITEM OF IMPORT

AMOUNT

153 154 155 156 157 158 159 160 161 162

CROSS RIVER UNIVERSITY OF TECHNOLOGY CROSS RIVER UNIVERSITY OF TECHNOLOGY OSIME MICHEAL OSIME MICHEAL OBI ENDURANCE CHINEMERE WOBO VIVIETH CHIEF AGWU IRO NKWA WILSON JOSIAH IJU HON JUSTICE UWA CHIDI NWAOMA EKA BLESSING PAUL OJINTA ROSELINE IRUOMA UTIN AKPABIO WILSON (U.A WILSON ENTERPRISES NIG) DIMEJESI IKECHUKWU BENEDICT AMABEOKU BELEMA AMA NWANKWO JOYCE IHUOMA ELAEREMI EUNICE TAMARABRAKEMI STANDHOPE PRECIOUS CHINOMSO EZELOBE BLESSING NGOZI BASSEY, ALICE UDO OGBONDEMINU PRAISE BUKAYO KPANGBAN JANE T

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

4,039.20 4,080.00 7,657.35 1,800.00 1,800.00 1,300.00 1,000.00 5,200.00 1,458.00 9,700.00

11,615.04 7,193.58 5,001.32 3,039.66 7,462.80 5,671.73 18,781.38 36,381.15

163 164 165 166 167 168 169 170

DIAMOND SECURITY HOLDINGS NIGERIA LIMITED ASOTIBE LAMBERT UZOMA AGBOR OSCAR AGBOR ( AGBOR MARY EYERE) OKPALA INNOCENT IHEANACHO STEPHEN CHINONSO CHUKWU OKORIE CHUKWU BEN KALIO MARGARET ATEMEOKU CHIMEZIE NATHANIEL CHISOM

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

6,775.00 8,000.00 1,000.00 5,000.00 5,368.00 3,600.00 4,000.00 2,154.00

375.00 375.00 375.00

25,336.21 11,691.72 11,691.72

171 172 173

ABIA, ETIM CHARLES DANIEL JAPHIA CLEAN NIGERIA ENTERPRISE FIJABI BABATUNDE WAHEED

13-Oct-16 13-Oct-16 13-Oct-16

375.00 375.00 375.00

1,815.00 1,000.00 3,002.44

11-Oct-16 11-Oct-16

375.00 375.00

2,742.58 6,219.00

174 175

FINE CHEMICAL NIGERIA LIMITED AFTRADE NIGERIA LTD

INVISIBLE INVISIBLE INVISIBLE RAW MATERIALS FOR INDUSTRIAL USE: CLYRELL RC213M QTY 85MT ARTIFICIAL RESINS

13-Oct-16 13-Oct-16

305.50 305.81

60,000.00 35.00

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

15,547.50 7,750.37 5,003.38 13,059.90 3,806.83 42,000.00 3,500.00 1,711.00 4,000.00 4,000.00 4,000.00 8,600.00 3,150.00 3,960.00

176 177 178 179 180 181 182 183 184 185 186 187 188 189

DON DUMELE INTERNATIONAL LIMITED DON DUMELE INTERNATIONAL LTD BRAIMAH EHI ATTAH DANJUMA INIAGHE ESEROPHE GRACE EMILE SAGNA NSOFOR RONTUS RICH EVERGREEN GLOBAL NETWORKS LTD AYELA SUNDAY ADEYEMI UDEH KENNEDY UZOMA OLANIYI ASHIMIYU ADEBAYO HON. BALA ALMU BANYE CHRISKING VENTURES LTD OGBONDA CECILIA OKWUCHI

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

4,000.00 3,000.00 8,292.00 2,840.00 5,220.00 2,400.00 7,000.00 3,429.00 1,500.00 4,250.00 13,552.00 13,244.00 8,870.40 1,830.24

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE AGRICULTURAL INSECTICIDE

11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 305.25

2,000.00 5,500.00 2,766.00 7,314.22 6,581.25 1,500.00 2,088.00 13,180.00 18,000.00 4,233.00 14,036.02 5,000.00 3,805.00 1,195.00 10,000.00 4,264.27 6,298.40 14,925.60 14,925.60 16,488.81 7,462.80 6,517.76 16,169.40 4,365.74 2,500.00 6,233.00 3,200.00 2,895.09 1,047.00 3,500.00 1,753.76 105,000.00

190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221

UGWUANYI WILLY NWEKE UGWUANYI WILLY NWEKE NAGODE INDUSTRIES LTD NAGODE INDUSTRIES LTD FIDELITY BANK UBA ZENITH BANK FBN CHRISKING VENTURES LTD ADEWUYI WASIU OLAIDE BENSON ONYEACHOLEM ADEBAYO KOLAWOLE SOMEFUN UGWU FRANK UCHENNA UGWU FRANK UCHENNA DAVID TOCHUKWU MADU DAVID TOCHUKWU MADU BENEDICTA IKEAKHE AJOSE-ADEOGUN AYOADE ADEBOLA AJOSE-ADEOGUN AYOADE ADEBOLA UGWUANYI WILLY NWEKE ODULAJA HEZEKIAH ADESHINA ODULAJA HEZEKIAH ADESHINA IDOKO LILIAN ANN IZUGOZIE LTD/ MBARAONYE EVANS EGBA DANIEL OKHEMESIMI PAUL RAYMOND HAMMED DAMILOLA CHRISTIANA ILOBA CHISOM GEORGE DAVID INYANG OKOENE NNAGOZIE ADVAPRO LIMITED OTROFANOWEI ELAYE

INVISIBLE INVISIBLE SNOW WHITE PETROLEUM JELLY SNOW WHITE PETROLEUM JELLY INTERBANK INTERBANK INTERBANK INTERBANK INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16

375.00 375.00 305.50 305.50 311.00 311.00 311.00 311.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

4,141.79 258.21 303,555.00 303,555.00 200,597.59 25,384.00 179,160.60 153,856.00 8,870.40 9,196.42 4,394.92 1,181.85 15,406.32 15,406.32 1,235.00 6,298.50 5,298.15 4,110.08 5,713.36 3,800.00 7,915.00 1,500.00 1,350.00 22,000.00 5,800.00 1,632.00 5,399.00 2,520.00 6,025.00 1,148.00 4,750.00 1,373.58

RAW MATERIAL HOT ROLLED STEEL: CHANNELS 20,000 MTS OF US NO 2 OR BETTER HRW WHEAT MINIMUM 11.5 PCT PROTEIN INTERBANK INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

11-Oct-16

305.25

50,000.00

222

NGOCHINDO FELICIA OLUWAFUNMILOLA

INVISIBLE

14-Oct-16

375.00

6,429.72

11-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16

305.25 305.75 375.00 306.00 306.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

45,000.00 100,000.00 22,864.00 25,395.56 26,779.79 10,224.50 2,348.07 6,524.80 9,856.00 28,000.00 9,856.00 8,564.67 6,218.00 6,218.00 3,979.52 7,503.88 4,663.50 15,500.00 10,677.28 5,000.00 9,884.52 5,200.00 3,000.00 1,350.00 6,800.00 620.00 2,888.89 22,693.00 4,000.00 1,200.00

223 224 225 226 227 228 229 230 231

USIBE MICHEAL EDE USIBE MICHAEL EDE[AUGUSTINE] NWACHUKWU KENNETH ARINZE ABDULLAHI ABUBAKAR FAITH FAVOUR TIOLUWANI NWACHUKWU KENNETH ARINZE EMBASSY OF PORTUGAL, ABUJA, NIGERIA VARIOUS BDC PTA

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE BDC INVISIBLE

14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

2,520.00 2,310.00 2,211.00 1,632.00 3,765.00 3,475.00 10,500.61 16,595.26 33,991.68

INVISIBLE INVISIBLE INVISIBLE

12-Oct-16 12-Oct-16 12-Oct-16

375.00 375.00 375.00

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INTERBANK INVISIBLE INVISIBLE ARTIFICIAL RESINS GASOIL INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 12-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16

375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 315.00 375.00 375.00 305.25 305.50 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00 375.00

SN 1 2 3 4 5 6 7 8 9 10 11 12 13 14

SOURCE INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS CBN OTHERS OTHERS OTHERS

9,060.80 5,999.93 3,932.50

15 16 17

OTHERS INTERBANK OTHERS

2,516.80 2,912.00 18,467.46 6,218.00 1,137.00 1,483.00 5,333.33 330.75 2,580.00 6,000.00 255,000.00 52,000.00 48,000.00 70,000.00 40,000.00 9,809.64 9,809.64 1,116.00 7,268.80 8,008.00 11,088.00 7,268.80 5,338.95 14,784.00 7,502.88 14,784.00 16,385.60

18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38

OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS TOTAL AMOUNT AVERAGE AMOUNT

INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE INVISIBLE

RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 14-OCT-2016 DATE OF FUND PURCHASE EXCHANGE RATE 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 10-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16 11-Oct-16

305.25 315.00 335.70 307.20 349.99 348.52 310.00 305.00 306.24 315.00 304.75 349.36 335.50 319.88

AMOUNT 50,000.00 7,936.51 79,863.28 14,905.20 11,156.92 7,943.74 400,000.00 605,000.00 11,020.17 200,000.00 1,500,000.00 3,688.27 149.03 20,000.00

11-Oct-16 12-Oct-16 12-Oct-16

328.00 305.00 305.00

300,000.00 100,000.00 500,000.00

12-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 13-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16 14-Oct-16

300.00 300.50 315.00 317.94 304.75 356.61 360.06 370.00 342.51 349.99 355.49 349.36 305.00 305.00 300.50 310.00 310.50 310.50 370.00 363.17 369.56

60,344.19 41,226.12 248,000.00 217,118.55 149,990.00 17,983.97 24,819.00 16,566.74 120,860.35 26,136.53 56,646.47 3,688.27 50,000.00 100,000.00 20,000.00 462,933.30 200,323.56 358,401.44 38,276.35 25,695.52 6,990.58 6,057,664.05 159,412.21

17,100.16 21,190.40 7,121.34 3,631.63 850.00 4,200.00 4,300.00 4,300.00 1,755.00 3,000.00 2,090.00

metro

monDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Hunger exposes Russia-bound Nigerian prostitutes Camillus Nnaji

ameroonian government has arrested four Nigerian ladies allegedly heading to Russia with a notorious Camerounian sex workers’ trafficker for prostitution. The girls, who were housed in a flat in Cameroon, while their travel documents were being processed, they ran out of money and food and had to tell their plight to some Cameroonian residents. According to a Camerounian Radio and Television (CRTV) website, the trafficker identified as Eyambe Sona was arrested by the Cameroonian gendarmes in

possession of the four Nigerian ladies between ages 19 and 24 years. The Divisional Officer for Muyuka Sub Division, Tambe Tabot got intelligence from an informant and went into discrete investigations on Sona who was also found in possession of fake documents. After intensive interrogation, the accused was identified as a member of a criminal gang involved in trafficking sex workers to Europe. The Nigerian girls were lodged in a hidden hotel in the region of Muyuka in Cameroon. One of the girls, who identified herself as Patriarch Eyambe (19), said they were all from Nigeria and were

Kunle Olayeni Abeokuta

Sona and the four ladies

directed on the phone call by Sona. She said that on arrival in Cameroon, they were lodged in a single hotel room for about two

weeks without any positive sign of the alleged trip to Moscow in Russia. Sona is presently in police custody while

Lagos destroys 2m litres of adulterated diesel

The site where the suspects always adulterate diesel

Muritala Ayinla

fficials of the Lagos State Task Force yesterday dislodged diesel bunker-

Muritala Ayinla

ire, which gutted a shopping complex at Yaba in Lagos yesterday, destroyed property and goods believed to be worth several millions of naira. About 94 shops in the complex opposite the Presbyterian Church, Yaba, were completely razed. For several hours, firefighters and other emergency responders had a hectic time putting out the fire, which engulfed the shops almost simultaneously. Some shop owners rushed to the scene to salvage their wares after they were alerted. The presence of the policemen from Sabo and Adekunle police stations prevented miscreants, who were milling around, from looting goods in the burning shops. It was learnt that the fire started from one of the shops in the complex about 12:45a.m. where

ers and destroyed over two million litres of aduletrated diesel near Coker by Diamond Bank, Orile. The operation was carried out based on a

series of petitions submitted to the office of the task force Chairman, SP Olayinka Egbeyemi. Yesterday’s operation was led by Egbeyemi’s second in command, a

Deputy Superintendent of Police (DSP), Wilson Alaba. It was learnt that some people were buying tankers of diesel and mixing it with kerosene at Orile. In the operation, 25 containers containing 5,000 litres of mixed diesel each and over 4,500 kegs of adulterated diesel were destroyed by the agency. Residents disclosed that the bunkerers had been operating in the area for over seven years. A tricycle operator, Mr. Salami Ogunsanya, said those engaged in the illegal business had been buying 33,000 litres of diesel every day and adulterating it with kerosene to double it to

Fire razes 94 shops in Lagos

The burnt complex

wears, shoes and bags among others were burnt. The General Manager, Lagos State Emergency Management Agency (LASEMA), Mr. Adesina Tiamiyu, said that the agency received a distress call about 12:45a.m. regarding a fire at a sto-

Two bandits held with five rifles

rey building This, he said, prompted immediate activation of the Emergency Response Team (ERT), the Lagos State Fire Service and policemen from Sabo and Adekunle police stations. He said: “The agency

was involved in salvaging some items, shops barricaded with iron bars using concrete cutter for fire service to gain access to the affected areas and also prevented further escalation. “A total number of 117 shops were salvaged by

the four girls have been handed over to the Nigerian Consulate in Buea for repatriation to Nigeria. 66,000 litres. According to Ogunsanya, he closes at 7p.m. daily basis because once it is night miscreants who engaged in this illegal business usually rob innocent people of their valuables. Residents, however, commended Governor Akinwunmi Ambode for his efforts at providing enough security for lives and property of the citizenry. Meanwhile, the operatives of the Lagos State Task Force during the third quarter of this year impounded 3,480 motorcycles plying restricted routes across the state. Also, 5,890 miscreants and hoodlums were arrested out of which 1,500 were screened out and 4,390 prosecuted. the emergency responders, which include fire service from Ilupeju and Alausa fire stations. Tiamiyu noted that the fire outbreak was exacerbated by the highly inflammable materials such as wears stored in the shops, as well as air conditioners. According to him, generators with fuel in the market caused occasional explosions as the fire razed the shops. The LASEMA boss also said that emergency responders had difficulty in accessing some of the shops because of iron bars used as security doors for the shops. LASEMA and the state Fire Service earlier responded to a fire outbreak about 6:57a.m. at 83, Abeokuta Street, Ebute-Meta. “No life was lost but two male adults who sustained minor injuries while trying to put out the fire and immediately treated by LASEMA Medical Team,” Tiamiyu said.

wo suspected armed robbers have been arrested by the police in Ogun State while planning to attack their victims. The suspects, Sesan Awosan and Tunde Saka, were among a robbery syndicate alle gedly ter rorising Ogijo and its environs. The state Police Public Relations Officer (PPRO), Abimbola Oyeyemi, who confirmed this in a statement, said the suspects were nabbed at their hideout. Oyeyemi, an Assistant Superintendent of Police, disclosed that five pump action rifles were recovered from them. He said: “The operatives from Federal Special Anti-Robbery Squad (FSARS) led by DSP Uba Adams got information that the gang had camped themselves in their hideout at Sotogbo area where they were planning to attack their next victims. “The o p e r at ive s swung into action and stormed the place. Two members of the gang were arrested while two others escaped.” The PPRO said that the Police Commissioner, Ahmed Iliyasu, has ordered a serious manhunt for the escaped members of the gang. Oyeyemi quoted the commissioner as commending the efforts of the FSARS men. He appealed to members of the public to partner with the police by volunteering useful information to rid the state of crime and criminality.

The suspects

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Sport

Daughter of Olympic sprinter, Tyson Gay, shot dead A uthorities say the 15-year-old daughter of US Olympic sprinter Tyson Gay has been fatally shot in Kentucky. The Fayette County coroner's office says in a statement that Trinity Gay died

at the University of Kentucky Medical Centre. The sprinter's agent, Mark Wetmore, confirmed in a text message to The Associated Press that Gay's daughter was killed. Lexington police said in

a statement that officers went to the parking lot of a restaurant after witnesses reported gunfire exchanged between two vehicles. Officers located one of the vehicles and stopped two people for questioning.

Tyson Gay competed in the last three Summer Olympics. He was part of a team that won a silver medal in the 4x100m relay at the 2012 London Games though that medal was ultimately stripped after Gay tested positive for steroids in 2013.

Sodje: Rohr must fix Eagles defence

Urges NFF not to ruin Nigeria’s chances

Ajibade Olusesan

ormer Super Eagles defender Sam Sodje has said Manager Gernot Rohr needs to bring on board a coach who specialises in defence to help him find lasting solution to that knotty problems in the national team. Sodje said with the quality of talents in the current Eagles, the team could become one of the greatest in the history of Nigerian football if right blend is achieved. He said the coach needed to solve the problem of the defence as soon as possible to be able to qualify for the 2018

World Cup. “I played in the defence throughout my career and I know that there is always issue about that department of our national team. But I think the real problem is that we have not had something like proper coaching, what we need do is to get a coach who looks at that specifically in the team. “I don’t think it is more of players’ problem, Rohr has to sit down and take a critical look at this if he knows much about defending he can carry on and if not, he should get a specialist to do that aspect of the job for him,” he said. Sodje said off-the pitch

problems could ruin Nigeria’s chances of making it to Russia 2018, urging the Nigeria Football Federation and other stakeholders to work hard to avoid distractions. “There should be no drama; we don’t want to know about the NFF or what is happening about the politics of the federation. We should just make sure the players are well taken care of; have the right blending and coaching. I am happy that at the moment we have very good young players in this team that we can rely on, let us take advantage of this opportunity,” he said.

Super Eagles defenders, Kenneth Omeruo (left) and Elderson Echiejile chasing Zambia's Collins Mbesuma during the 2018 World Cup qualifier in Ndola. Nigeria won 2-1.

Man United's Anthony Martial (left) battling for the ball with a Liverpool player

Liverpool’ll be ready for Man United, says Klopp

iverpool manager, Jurgen Klopp, has promised that his side will be "ready" for the visit of fierce rivals Manchester United on Monday night. The Reds will go into the match three points clear of Jose Mourinho's side and knowing that victory would take them joint top of the table alongside Manchester City and Arsenal. Klopp insists that his side will focus on their own game rather than worrying about United's qualities, and revealed that he is "optimistic" about picking up a positive result. "We have a lot of things to do until the game, but we'll be ready, that's the only thing I can promise. We'll try everything, I am really looking forward to it. I am quite optimistic because we have a wonderful opportunity to play a home game un-

CSKA Moscow to re-sign Musa Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

ussian champions CSKA will be willing to re-sign Nigeria star, Ahmed Musa, should his big-money move to Leicester City crash. Musa reportedly cost the English Premier League champions 18 million pounds in the summer when he joined up from the Russian army club. However, the Nigeria winger has yet to explode in the EPL as widely expected as Leicester have also struggled to match the run they chalked up last season. “Ahmed is still loved and highly rated at CSKA, where he played for five seasons and there are strong indications that should he for any reason fail to shine in England, they will be only too happy to sign him again,” a source close to the forward revealed. The 24-year-old Nigeria star, who

has been nominated for the CAF African Footballer of the Year 2016, has made five appearances in the EPL for ‘The Foxes’ with only two starts and has yet to find the back of the net. Leicester City are 13th on the table, while CSKA are second on the log in Russia with 21 points from 10 matches, a point behind leaders Spartak Moscow.

Musa

der the floodlights," he told the club's official website. "It will be a fantastic atmosphere and trying your best in a situation like this is the best thing I can imagine when I think of football. We don't think about United too much."

Operation beat Algeria

Work begins on Akpabio Stadium pitch

ork has commenced on the pitch of the Godswill Akpabio International Stadium, Uyo ahead of next month’s 2018 FIFA World Cup qualifying match between Nigeria and Algeria. In line with the NFF’s promise to get the Akwa Ibom State Government to work on the turf, following some complaints by Super Eagles’ players after last month’s 2017 Cup of Nations qualifier against Tanzania, the federation wrote to Governor Udom Emmanuel on the issue and followed up with a first inspection of the pitch on Saturday. The NFF’s inspection team, led by the Deputy General Secretary, Dr. Emmanuel Ikpeme, and including Assistant Director (Technical) Siji Lagunju and Chief Sports Officer, Sunday Okayi, was received and taken on the tour of the venue by Hon. Monday Uko, the Akwa Ibom State Commissioner for Youth and Sports and the Commissioner for Special Duties, Engineer Etido Inyang. The Consultant to Julius Berger, the world – renowned construction company handling the work, was with the team.

SPORT

MONDAY, OCTOBER 17, 2016 NEW TELEGRAPH

Glo unveils promo to mark 25 years of CAF awards

lobacom, title sponsor of the annual GloCAF Awards, which celebrates Africa’s most successful football icons, has unveiled a new promo ahead of the 2016 edition of the awards. The event, which is the Silver Jubilee edition, marking 25 years of CAF Awards comes up at the International Conference Centre, Abuja, Nigeria on January 5, 2017. About 300 customers will be rewarded with a chance to attend this once in a lifetime Silver Jubilee award ceremony of an event best known as the Oscars of African football in a promo that runs between

October 10 and December 31. “The Glo-CAF Awards gala is the biggest night in African football, a gathering where the biggest names in the world of business, politics and showbiz meet with the stars and legends of African football.” Globacom said in a statement in Lagos. According to the company, ”The Silver Jubilee of CAF Awards is another opportunity to appreciate and reward our subscribers who have been the brand’s pillar of strength over the years for their patronage and support and we have packaged the promo for them exclusively.”

Spain, Slovakia's stars win Governor’s Cup Tennis 1st leg Ajibade Olusesan

he first leg (Futures 5) of the 16th edition of Governor's Cup Lagos Tennis Championship ended at the weekend with players of Spain and Slovakia winning the men and women’s singles of the tournament. Spain’s Enrique Lopez Perez, who won the competition in the 2012 edition, did it again when he defeated Gianni Mina in the grudge final of the men’s singles that ended 6-2,6-7(7),6-1 at the Lagos Lawn Tennis Club, Onikan. In the women’s singles, Slovak Majeric, who won the final in the 2013 edition and runner up in the 2015 competition, was superb in the final against a consistent regular face in the Governor’s Cup in the last six years, Swiss Conny Perrin. Majeric won the final 3-6,6-1,6-1. The first leg winners said they were looking forward to the second week (Futures 6) which serves off today (Monday) with

high hopes of consolidating on their feat in Futures 5. "I'm happy winning this again. I was runner-up last year. There's no doubt Conny was a tough player. She took the first set, I had to fight back to win the other two sets. This is a great tournament for us and I'm glad to be here again, as this is my fifth time in Lagos. For the second week, it is not yet over getting double victory will be good for my game and ranking in the world, "Majeric said.

ABUJA

igerian Army Division 1, Kaduna, under the leadership of Major General Adeniyi Oyebade has retained its position as number one sporting division amongst the Nigerian Army formations. The first division showed its superiority over other divisions as they emerged overall winners of the 2016 sports festival staged at Abuja National Stadium. They posted a medal haul of 118 medals with 45gold, 32 silver and 41 bronze medals. The Nigerian Army headquarters Garrison Abuja came second with total number of 103 medals with 32 gold 31 silvers and 40 bronze while 81 Division based in Lagos came third with 31 gold 26 silver and 37 bronze medals. Chief of Army Staff, Lt Gen. Tukur Yusuf Buratai said: "I am very excited because the compe-

Nigerian striker Isaac Success (left)

Mazzarri, Deeney hail Success Nigerian star voted best player

Emmanuel Tobi

atford head coach Walter Mazzarri and captain Troy Deeney have praised Super Eagles invitee Isaac Success for his scintillating display after being voted as the man-of-the-match in their 1-0 away win against Middlesbrough on Sunday. The Hornets also kept their first clean sheet in all competitions this term, with Success impressing on his first start for Watford since his summer move. "I'm happy with him [Success], even though he played much better when he came on as a substitute in the other games. I'm hoping he improves his physical condition in order to get ready 100 per cent to help us in the coming

matches," Mazzarri added. Success took man-of-the-match honours at the Riverside, drawing a string of fouls from Barragan, who somehow avoided a second yellow card from referee Roger East before Aitor Karanka hooked him in the second half. "Everyone forgets he's just a young man," Watford captain Deeney said of the club's record signing. "He's built like a big man but he's definitely a young man. He's got a lot to learn, a lot to offer. "As the captain, you just try and guide him. We see the talent he possesses and the pace, we've just got to put the ball in the right areas for him and he can cause havoc. "I'm happy for him and now it's his job to keep in the team. It's the hardest thing to do, to stay in the team."

ater sports in Nigeria received a boost at the weekend during the maiden open water sports and boat race when the Minister of Youth and Sports, Solomon Dalung and the Chief of Army Staff, Lt. General Tukur Buratai pledged maximum support for its development amongst the ranks and files of the Nigerian Army. Dalung in his remarks described the event as historic because it was the first time the Nigerian Army had ventured into water sports at its sports festival. “I want to congratulate the Nigerian Army for introducing this unique sporting event and the determination displayed by the leadership in encouraging the training of athletes who within 48 hours were able to measure up in competitions as we have seen here," he said. He also enjoined the Nigerian Rowing, Canoe and Sailing Federation led by Rear Admiral Festus Porbeni to continue to focus on the training of men and officers who are interested in the sports. The Chief of Army Staff, Lt. General Tukur Buratai praised the Nigerian Rowing, Canoeing and Sailing Federation after he was presented with a canoe and paddle.

Lagos endorses Heritage Bank Skoolympics

L Enrique

2016 NASFEST: Army Division1 emerges champions Adeolu Johnson

Dalung, Buratai Boost Water Sports

tition is getting tougher year in year out, and I believe that those athletes who excelled in the Nigerian Army Sports Festival will be mobilise to represent the country in any competition across the world.”

agos State Government has endorsed the Heritage Bank Skoolympics project, an initiative of Heritage Bank Plc, aimed at building champions through youth sports competition at the secondary school level. Special Adviser to the Lagos State Government on Sports, Ayodeji Tinubu, said,“We are very excited at the project because it will help to develop youths in the state in a disciplined manner,” adding that we have mobilised

and created awareness among students in the state for the project and were looking forward to it. Also speaking, Mary Onyali, the Brand Ambassador of Heritage Bank Skoolympics said, “I was really moved when I was approached to be the ambassador.” Earlier in her address of welcome, the Executive Director, Lagos and Southwest/Corporate Banking of Heritage Bank, Mrs. Mary Akpobome, who stood in for

the Managing Director, Ifie Sekibo, affirmed that the bank was spearheading the noble project in the state because Lagos State has been known to be successful in driving sports initiatives. Over 200 public and private schools across all local government areas will compete in basketball, athletics, handball, table tennis, swimming, track and field events at the Teslim Balogun Stadium in Surulere and Rowe Park Sport in Yaba.

Edo, Oyo qualify for Etisalat U-15 finals Rivers plans big for Ezeji testimonial

secondary school in Ibadan, Oyo State, Asegun Comprehensive Secondary School, Oyo State and Niger College Junior School, Benin City, Edo State, have qualified for the Etisalat U-15 School Cup football competition after emerging champions at the Ibadan Centre. The Edo and Oyo teams outclassed schools from Ekiti, Ondo, Lagos, Ogun and Osun States at the Lekan Salami Stadium, Adamasingba and Wesley College Playing Ground, Elekuro to win the tickets for the National Fi-

nals billed for Lagos in November. Oyo defeated Osun in their first game before walloping Ogun 5-1 in their second match. They edged Lagos team out by 1-0 in their last game. Similarly, Edo maintained an unbeaten run throughout the qualifiers. Meanwhile, schools from Kwara, Kogi, Nassarawa, Niger, Plateau, FCT, Benue and Cross River States will battle for the two slots available at the Ilorin regional qualifiers billed for October 17 to 21 at the Ilorin Township Stadium.

Charles Ogundiya

ivers State commissioner for culture and tourism, Tonye Briggs-Oniyide, has said the state will take advantage of the testimonial match for Nigerian league legend, Victor Ezeji, to showcase the cultural heritage of the city of Port Harcourt. While receiving the Main Organising Committee of the testimonial in his office, BriggsOniyide acknowledged that such an event in honour of an athlete, who painted Rivers in great colors, will attract a host of esteemed guests and would

thus present an opportunity for the culture of the people of the state to be exhibited. “As a ministry, I want to tell you culture and tourism is going to be part of this testimonial,” she said. “The cultural troupe of Rivers State is going to be part of this event. Definitely people are coming from everywhere, so it is also a tourist event. We'll be having visitors from outside the country and the state, so we ought to showcase what our cultural heritage is all about." After twenty years of top flight action, Ezeji has called it quit with professional football.

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Public arena T he column you write

Politics of Hair and Culture in our development Tunji Olaopa

ne of the few delights of public intervention is such an opportunity as this to weave seemingly disparate ideas and events together into coherent patterns of thoughts and actions that continually feed into my ongoing reform passion. And beyond constant reflection on the civil service, cultural matters and specifically Yoruba culture fascinates me a great deal. I have written about the cosmopolitan and accommodationist intersection of the triple heritage, a la Mazrui, which my growing up at Aáwé instilled in me. I was therefore in my elements when I listened to four incredible expositions in one week: the first three speakers addressed the Yoruba Academy Ibadan Conference that marked the September 23, 1886 end of Kiriji war. Two of them were historical scholars, Professors Banji Akintoye and Olutayo Adeshina, and the third, a PremiumTimes columnist, Ms. Bamidele Ademola-Olateju, presented an extremely refreshing narrative that revised the localised conception of ‘aiye’ or the universe in Yoruba cosmology in a prospective view of the Yoruba of the future that we should aspire to build, which I sure will reflect on some other time. I met the fourth speaker at the recent 9th annual lecture in honour of Professor Bolanle Awe, an icon, whom I have had reason to celebrate in commentaries. Prof. Awe is not only a Yoruba intellectual but her discourses on gender reforms bristle with cultural insights. I needed no second thought to be at any event in her honour. But I had more than I bargained for at the occasion. My train of thought was set on fire by the presentation of a young and brilliant scholar, Dr. Sharon Omotoso of the Institute of African Studies, University of Ibadan. The title of her lecture was “The Philosophy and Politics of Hair.” This intriguing title was the lecturer’s way of intervening in the critical issues of human rights, economic crisis as well as sundry family issues. Of course, many in the august audience, including me, were rightly intrigued. What has hair got to do with anything? But as the lecture picked up, I was reminded of Chimamanda Adichie’s Americanah, and the significance of hairdo in that brilliant novel. She sums up this significance in an interview she granted Channel 4 news in August. According to her, if Michele Obama had worn her natural hair in the run off to the presidential election, her husband, the then Senator Barack Obama, would have lost the presidential election. Why? This is because, according to her, “hair is political.” Michele Obama’s natural hair, for Adichie, would have conveyed a frightening, anti-establishment metaphor of militant Black power whose stereotypical symbolism would have been damning. The hair of a grown up, black American woman projects strong political feelings about political correctness or incorrectness. For me, hair is more than political; hair

Chimamanda

For me, hair is more than political; hair is cultural is cultural. Indeed, as I sat and listened to the guest lecturer at the Bolanle Awe event, it was not too difficult to see how the modern configuration of hair styles and hairdos have become symptomatic of almost everything that is culturally wrong with us as a people. Beyond the politics of wearing certain hair styles; beyond the economics of how much of foreign exchange goes into hair importation; I see hair as a symbolic context for lamenting all that is fast diminishing in what we can call our culture of being. Human culture plays a significant part in defining who we are and what we can ever hope to become. Culture, in other words, is a constant dynamics of being and becoming. Yorùbá constitutes my own culture of being, just as Igbo or Hausa or Nupe or Itshekiri or Edo constitutes the culture of being for others too in Nigeria. But anywhere we look today, we see a disturbing diminution of what is cultural, and hence significant in our cultures. Take hair for instance. It is not difficult to risk the empirical claim that over 90 per cent of female youths in Nigeria now adorn their hairs with European style wigs and Asian weave-on. The days of traditional hairstyles have been swallowed by the modernity of fashion! That would really not constitute a huge fundamental problem if the wigs were to be essentially a pragmatic intervention in fashion. What is really problematic is that European modernity brings with it the rejection and abhorrence

of all things that enables, culturally. Thus, any woman with the traditional style of hair is, by that very fact, unfashionable; someone who has lost touch with modernity. To become modern therefore, we pay the costly price of identity dislocation. “People who live on borrowed culture,” says Varindra Vittachi, the Sri Lankan writer, “often go to extremes that their models and mentors had never intended.” On the contrary, colonialism intended just this cultural amnesia, and we are all still playing out the script. In the final analysis, the real issue boils down to that of a genuine reflection on who we are and what we want to be. The social anomie which Wole Soyinka lamented as one of the fundamental roots of Nigeria’s underdevelopment, it seems to me, arises out of a grievous cultural dislocation which prevents a conscious retrieval and celebration of all that is best in one’s culture. And in the gap in between, we are witnessing today all that is abhorrent in our youths’ understanding of the modern: nudity and all forms of crazy fashion sense, the frightening loss of the mother tongue (which has become “vernacular” in the presence of sweet English language!), the terrible dismissal, until few days ago, of History from the school curriculum (and hence the prevention of a dynamic retrieval of the usable past), and finally there is a great and yawning absence of moral values and norms which feed the possibility of social harmony in Nigeria. There is therefore little wonder that Nigeria’s economic and development woes have become a combustible predicament when squared with cultural anomie amongst the youth and everyone else. Among the Yorùbá, a cultural adage, paraphrased, says: Rather than steal, I will become a servant. This adage projects the significant value placed on the integrity that defines who a person is as an Omolúàbí. All these and more, which constitute fundamental cultural capital, seem to have gone with the wind. Africa seems to have been swept into the whirling and confusing vortex of global cultural fusion. And it seems we are the worst for it. Look all over Africa; look critically at Nigeria: we have not only been left perplexed in terms of development; our cultural beingness is unhinged at its very centre. We have refused to ground our progress in the context of our internal cultural dynamics; we have refused to search inward within our vast cultural frameworks for insights that can drive national development in Nigeria. Scholars have talked about the strong tie between cultural attitudes and development. But we have not taken deliberate notice. For instance, the Washington Consensus still holds us in its economic grip while other culturally wiser nations are searching and ransacking their cultural capital for internal mechanism that will drive their future. Recently, Nigeria’s economic imbalance has forced us all into a deep rethink of the dynamics of development and progress. One of such rethink is the “Made in Nigeria” imperative which the Buhari administration has embarked upon. This is a right move in the right direction if Nigeria’s

economy would become buoyant enough to sustain the change slogan as well as the national project. I have written enough about reforming Nigeria’s institutional framework to know how change would not translate into any formidable transformation if care is not taken. Nigeria’s bid for an economic reform that targets the internal framework of development becomes immediately lopsided against the myriad of socio-cultural anomie already emasculating our social fabric. For example, it looks quite trivial but it is really a significant issue that hair has become part of the “essentials” that Nigeria has to import. And this points not at the abdication of economic potentials which the country can yield even in terms of internal creativity. Rather, this crass importation of hair points at a deep sense of cultural loss. The long European hair types are, in the eyes of all and sundry now, much better than the natural hair which could be made up into several aesthetically appealing styles consonant with our cultural being. It is at this point of confronting cultural loss of our sense of who we are that the economic dynamics of “Made in Nigeria” unfailingly breaks down. The Chinese Beijing Consensus is an economic experiment driven by a deep investment in the Chinese cultural identity. In fact, the entire Asian Tigers economic transformation is founded on a deep appreciation of the role of culture in national development. Edward Blyden, the Liberian pan-Africanist, sums up the challenge clearly: “If you are not yourself, if you surrender your personality, you have nothing left to give the world.” Once we fail to understand the essence of the dissonance between cultural self-definition and economic well-being, then there is no doubt that something is fundamentally wrong with us as Nigerians. • Dr. Olaopa (tolaopa2003@yahoo.com) is Executive Vice Chairman, Ibadan School of Government and Public Policy (ISGPP), Ibadan.

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