Monday, october 3, 2016 binder1

Page 1

$14.52bn loans: Banks go after power investors lElectricity generation crashes to zero megawatt

Adeola Yusuf

B

anks and other lenders in Nigeria are on the trail of power

sector investors in a fresh loan recovery move to recoup over $12.52 billion credit facilities in the segment, New Telegraph has

learnt. News of the fresh loan recovery drive came hours

after power generation crashed to zero megawatt (MW) yesterday morning

before picking up to over 2,000 MW. The loan recovery move, a source at the energy section of a first generation

Oil price hits $50, raises recovery hope for 2016 budget }2

bank told our correspondent, has to do with over N300 billion given to the power investors in 2014. "As many banks near the end of financial year, CONTINUED ON PAGE 37

Sanctity Of Truth

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

Vol. 3 No. 957

Monday, October 3, 2016

Detained students: Nigeria summons Turkish ambassador }38

Buhari

Ambode, Shettima, Uduaghan, Mohammed for NGE secretariat's inauguration }40

Ambode

Nnamani heads Electoral Reforms Committee }3

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

Nnamani

N150

CJN to SANs: You can’t be on Supreme Court Bench }3

Mohammed

FG places prominent Nigerians under watch }2

...over Biafra agitation, Niger Delta militancy Lovers steal ATM card, }42 withdraw N300,000

Rangers break 32-year-old jinx, win NPFL title }45 & 46

Ayodele and Imoleayo

Sex scandal: Reps clear colleagues of allegations }3

Governor Ifeanyi Ugwuanyi of Enugu State lifts the Nigeria Professional Football League (NPFL) trophy won by Rangers International FC of Enugu. With him are players of the club...yesterday

British Scientists: Breakthrough in HIV cure in sight }38 Ecobank Internet Banking

ecobank.com

Out and about Call 0700 500 0000, email engcontactcentre@ecobank.com or visit ecobank.com 6203_GRP-NGA_Move-on-up_Strip-ad_2x10in_L_Multi_EN.indd 3

28/07/2016 15:16


2

NEWS

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

FG places prominent Nigerians under watch

Our Correspondent

T

here are strong indications that the Federal Government has placed some prominent personalities under watch, as part of national security measures. New Telegraph's investigation revealed that the government is concerned about threats of secession from some regional groups,

particularly the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB), Indigenous People of Biafra (IPOB), as well as activities of the Niger Delta Avengers (NDA). Highly placed sources, who spoke in confidence with New Telegraph, said there is suspicion in military and security circles that some prominent individuals may be sponsoring the agitations, which con-

stitute threats to the unity and corporate existence of the country. While the IPOB and MASSOB groups continue to agitate for the State of Biafra, the NDA had carried out series of bombings of oil and gas installations in the oil-rich Niger Delta. Apart from the NDA, there is also the Niger Delta Greenland Justice Mandate (NDGJM), whose members had claimed responsibil-

ity for several attacks on crude oil facilities, including some delivery lines operated by the Nigerian Petroleum Development Company (NPDC). According to the sources, the "boldness" with which some of these agitating groups demonstrate, raises the suspicion that they may be drawing sponsorship from "powerful forces within and outside the country.”

Oil price hits $50, raises recovery hope for 2016 budget Adeola Yusuf

P

rices of oil, Nigeria’s biggest revenue earner, yesterday hit the $50 per barrel mark, the third time this year, raising recovery hope for the 2016 budget. The new price, which occurred four days after the Organisation of Petroleum Exporting Countries (OPEC) slashed its production for the first time in eight years, surpassed the 2016 budget oil benchmark by $12 per barrel. Nigeria’s 2016 budget was benchmarked at $38 per barrel against major criticism across the nation, following December 2015 prices of about $34 per barrel. The federal government

is shopping for bonds and other credit facilities to finance the deficit in the budget. The aspiration to fully fund the budget, checks by New Telegraph showed, could be realised if the production shortfall is fixed to fully enjoy the price surge. The price rise of Brent, against which half of the world’s oil is priced, had risen to around $48 per barrel on Wednesday after OPEC agreed to reduce production, compared to $45 earlier that day. It stood at $50.19 per barrel as of 4:53p.m., Nigerian time yesterday, up from around $49.66 per barrel on Thursday. Brent crude had, on June 8, climbed by as much as 2.1 per cent to touch

$52.54, the highest price since last October. But it later fell to as low as $43 on July 27 after official United States energy data showed an unexpected glut of oil in storage. Oil prices had rallied from lows of under $28 per barrel in January to trade above the $50 per barrel mark in June, spurred by a string of international oil production outages in the second quarter that offered temporary respite from the global glut. Nigeria, Iran and Libya were granted exemption from a resolution by the Organisation of Petroleum Exporting Countries (OPEC) to cut members’ oil output by about 740,000 barrels per day by November

2016 to stabilise prices. OPEC agreed to cut production to a range of 32.5 million barrels per day to 33 million bpd from around 33.5 million bpd. Incessant attacks by Niger Delta militants on oil and gas production facilities in the region resulted in a massive cut in the country’s oil production capacity by almost 50 per cent, from an average of 2.2 million barrels per day. The impact of the attacks has been a drastic drop in revenue earnings from oil exports, which has plunged the country into a major crisis underlining the current economic recession and the difficulty in funding the N6.06 trillion 2016 budget.

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY SEPTEMBER 30, 2016 SN CUSTOMER

ITEM OF IMPORT DATE OF FUND PURCHASE EXCHANGE RATE

AMOUNT

1 OKWODU UCHENNA

PTA

28-Sep-16

311.00

2,000.00

2 OGUNS GLOBAL WORKS LTD/SANNI MOTUNRAYO AISHAT

PTA

28-Sep-16

311.00

4,000.00

3 ADERONKE ADEDEJI

PTA

28-Sep-16

311.00

4,000.00

4 CHIDERA ACHUONYE

SCHOOL FEES

28-Sep-16

311.00

2,000.00

5 EBIREDELU THANKGOD

SCHOOL FEES

28-Sep-16

311.00

2,000.00

6 AKINFERE OLUWATONI DAVID

TUITION FEES

28-Sep-16

311.00

3,000.00

7 OGUNDEKO ABIOLA IBRAHIM

SCHOOL FEES

28-Sep-16

311.00

3,000.00

8 SOMTOCHUKWU FAVOUR

SCHOOL FEES

28-Sep-16

311.00

3,500.00

9 YVONNE CHIDERA

SCHOOL FEES

28-Sep-16

311.00

3,500.00

10 OMUBOR TAMUNOBEBUSERERE

SCHOOL FEES

28-Sep-16

311.00

3,993.00

11 NNAMDI IKEAZOR

SCHOOL FEES

28-Sep-16

311.00

4,025.00

12 RACHEL KAKULU

SCHOOL FEES

28-Sep-16

311.00

1,067.65

13 IRIFETA OVWIGHO OWEN 14 RACHEL KAKULU 15 AJIBOYE O YETUNDE 16 OGUFERE OGHENEKEVWE 17 SANNI MODINAT ADEBOLA 18 YVONNE ISICHEI/ISICHEI IFEANYICHUKWU 19 A-Z PETROLEUM PRODUCTS LTD

SCHOOL FEES

28-Sep-16

311.00

1,977.58

ACCOMODATION

28-Sep-16

311.00

2,050.15

TUITION FEES

28-Sep-16

311.00

2,966.36

SCHOOL FEES PAYMENT

28-Sep-16

311.00

3,460.76

TUITION FEES

28-Sep-16

311.00

3,935.50

SCHOOL FEES PAYMENT

28-Sep-16

311.00

4,978.00

MOGAS

28-Sep-16

311.00

84,114.92

RETURNS ON SOURCE OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY SEPTEMBER 30, 2016 SN 1

SOURCE AUTONOMOUS SOURCES

DATE OF PURCHASE

EXCHANGE RATE

AMOUNT

28-Sep-16

310.50

139,568.92

New Telegraph was informed that security operatives had stumbled on millions of dollars and pounds in bank accounts of a leader of one of the groups calling for secession. The discovery was said to have shocked the authorities concerned, given that "the young man in question could not have earned anything close to that, in real sense." A senior military source confirmed to our correspondent that some prominent Nigerians, suspected of having links with these agitators, are under security watch. According to him, "You see, there is no responsible government that will fold its arms and let things like this continue. "Part of the responsibility of government is to prevent and tackle possible threats to national security. "You think it is not important that we investigate who may be supporting and funding some of these groups?" It was further learnt that a recent call by two retired Generals for the renaming of the region's day, had come under serious scrutiny. "We are concerned that some prominent Nigerians, who had served our

dear country at very high levels, will promote the idea of renaming their people’s day to what is apparently suggestive. "What is clear to us here, is that nothing and nobody will be allowed to cause the break-up of Nigeria. "We will defend the oneness, indivisibility, and sovereignty of the country; we have that sacred mandate to champion that." A senior officer also maintained that "these agitations we are talking about, are politically-motivated, and we will not allow anything that will jeopardise the unity and corporate existence of our beloved country." Multiple sources told New Telegraph that security agencies, especially the military and Department of State Services (DSS), are working on findings that some highly placed Nigerians have been supporting these dissident groups. One of the sources stated that some of the militants arrested so far have made confessions that “indicted some highly-placed people.” The security agencies, according to the source, are tracing the sources of funding and arms of secessionist groups – MASSOB and IPOB – and militants.


NEWS

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

3

Sex scandal: Reps clear colleagues of allegations ...committee lays report this week lNo evidence to nail lawmakers

Philip Nyam Abuja

A

s the House of Representatives receive and debate the report of its joint committee on ethics and privileges and foreign relations on allegations of sexual misconduct against three lawmakers, there are indications that the legislators have been given a clean bill of health. New Telegraph reliably learnt that the three accused lawmakers have been cleared of the allegations for lack of evidence. The three legislators are Hon. Mohammed Garba Gololo (APC, Bauchi), Hon. Samuel Ikon (PDP, Akwa Ibom) and Hon. Mark Gbillah (APC, Benue). The committee, cochaired by Hon. Ossai Nicholas Ossai and Hon. Nnenna Elendu-Ukeje, was mandated to investigate the allegations levelled against the lawmakers by the then United States Ambassador to Nigeria, Mr. James Entwistle. The committee conducted its investigation and completed the public probe since July before

the House proceeded on annual recess. The report was listed on the order paper last Wednesday, but its presentation was put off. But sources close to the Rules and Business Committee told New Telegraph that the report will be presented this week. Also, sources close to the Ethics and Privileges Committee confirmed to our correspondent that the accused lawmakers have been cleared by the probe committee. "I don't have details of the findings and recommendations, but the snippets of what I saw, the lawmakers have no question to answer. "It is the responsibility of he that alleges to prove. But in this case, the American embassy had no evidence, so the committee had no alternative but to clear the honourable members," said the source. New Telegraph had, on June 16, 2016, in an exclusive story, published a letter written to Speaker Yakubu Dogara, alleging that three lawmakers were accused of attempted rape and soliciting for prostitutes while on a US visitor

programme in April 2016. Entwistle had brought the incident to the notice of the speaker via a letter written on June 9. The accused lawmakers were among a group of Nigerians who travelled to Cleveland, Ohio on the invitation of the US Government. Gololo was alleged to have sexually assaulted a housekeeper in his hotel room while Gbillah and Ikon were accused of soliciting for prostitutes through car park attendants. Consequently, the US embassy cancelled visas of the three lawmakers, banning them from visiting the country for three years. Gbillah had written to

the US ambassador in protest, demanding the “full video/CCTV footage covering the period of their entire stay at the hotel,” saying “this should clearly show the movements and activities of every member of the group throughout the hotel.” Ikon, on his part, insisted that he was innocent, saying his was a case of mistaken identity. Although, the US Government was touted to have video footage of the incidents, it could not produce any before the investigative committee. Minister of Foreign Affairs, Mr. Geoffrey Onyeama had, in his testimony before the probe panel, said he interacted

with the US Ambassador, Entwistle, but the envoy confirmed to him that the US Embassy had no video evidence to present to the House to back up the allegations. He also revealed that the housekeeper who accused Gololo of grabbing her and soliciting for sex also refused to testify or

$145.52m

The capital importation of the Servicing sector of Nigeria in Q2 2013. Source: National Bureau of Statistics

9,450

The total area (in sq. km) of water of Paraguay. Source: Worldfactsandfigures.com

L-R: Edo State Governor-elect, Mr. Godwin Obaseki; his wife, Betsy; Edo Deputy Governor-elect, Hon. Phillip Shaibu, and his wife, Maryam, at a victory thanksgiving service at St. Peter Anglican Church in Benin City …yesterday

Nnamani heads Electoral Reforms Committee Tunde Oyesina ABUJA

A

former Senate President, Ken Nnamani, has been appointed to head the newly constituted Electoral Reform Committee. The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) will inaugurate the committee tomorrow. The committee is part of the Federal Government's effort to ensure an electoral process that would meet the global standard and satisfy the desire of the electorate. The committee is to look into the current process and make amendment or addition where necessary. The committee is also expected to review electoral environment, laws and experiences from recent elections conducted in Nigeria and make recommendations to strengthen and achieve the conduct of free and fair elections in Nigeria. According to a statement issued by the Special Adviser to the AGF, Salihu Othman Isah, the committee has 24-members. Furthermore, Nnamani is expected to bring

his wealth of experience to bear on the reform process. Dr. Mamman Lawal of Bayero University, Kano is the Secretary of the committee. Other members of the committee include Dr. Muiz Banire (SAN), Dr. Clement Nwankwo, Chief A.C Ude and Mr. Tahir, Director, Legal Drafting, Federal Ministry of Justice, among others. The late President Musa Yar’Adua had, in 2007, constituted an electoral reform panel headed by the former Chief Justice of Nigeria, Justice Muhammed Uwais. The Uwais committee submitted its report on December 11, 2008 wherein it made far-reaching recommendations including establishment of commissions to deal with electoral offences, constituency delimitation and political parties registration and regulation, appointment of head of the electoral body by the judiciary. A modified version of the report was sent to the National Assembly in 2009. But Acting President Goodluck Jonathan forwarded an unedited version to the legislature in March 2010. Up till now, the report has not been implemented.

substantiate the allegations. According to the minister, “The first point I made to him (ambassador) was that he had not at any stage briefed the Foreign Affairs Ministry about the allegations, he acknowledged that that was a failing on his side and apologised. “The first thing he said was that he wrote what he believed was a confidential letter to the Speaker of this House. That he felt obliged to write the letter because of the framework of the visit – government-to-government agreement and it was merely information that there were allegations against three members of the Nigerian delegation. He didn’t say anything about the position of the American government."

CJN to SANs: You can’t be on Supreme Court Bench Foluso Ogunmodede

T

he Chief Justice of Nigeria (CJN), Justice Mahmoud Mohammed, has dismissed insinuations that Section 231 of the Constitution would be ignored while picking his successor next month, insisting that the Section was sacrosanct. Besides, the CJN said the highest court had no space for members of the Inner Bar as “they lack the proven experience or the temperance of character developed through years of active participation in adjudication.” Justice Mohammed, who will bow out as the 15th Chief Justice of Nigeria on November 10, said it would be impossible for anyone to ignore Section 231 and the tradition of seniority in the appointment of his successor next month. Mohammed’s successor had become a subject of debate among lawyers on speculations that the agelong tradition of seniority would not count in the appointment of the retiring Chief Justice’s successor next month.

As the incumbent CJN’s retirement draws closer, the issue of who takes over from him is already a subject of debate in the media and legal circles. At the centre of the debate is Justice Walter Onnoghen, who is the most senior Justice of the Supreme Court after Justice Mohammed. Justice Onnoghen, who was born at Okurike Town, Biase Local Government Area of Cross River State on December 22, 1950, was elevated from the Court of Appeal to the Supreme Court in 2005. If the tradition of succession by seniority prevails in November, he will become the 16th CJN. Some radical views have suggested that the next CJN and a fresh set of Justices of the Supreme Court should be appointed from the Bar. But Justice Mohammed ruled out this possibility as Section 231 preserves the position of the CJN for the most senior Justice of the Supreme Court, as well as a space on the apex court Bench for Justices of the Court of Appeal has been

the tradition. He said: “I must use this medium to address speculations that have arisen as regards the appointment of persons to the Office of the Chief Justice of Nigeria. “Permit me to restate that Section 231 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), is clear as to the procedure that must be followed in appointing a Justice of the Supreme Court or indeed a substantive Chief Justice of Nigeria. The National Judicial Council recommends, the President of the Federal Republic of Nigeria approves and the Senate confirms such appointments. “While I would admit that there is no constitutional restriction as to where those to be appointed are selected from, the long held practice, which I daresay had been apolitical, transparent and fair, had been to appoint the most senior Justice of the Supreme Court to the Office of the Chief Justice of Nigeria." Also, Justice Mohammed had foreclosed hope of those pushing for mem-

bers of the Inner Bar to be made Justices of the Supreme Court, describing it as misplaced, even as the nation was not ripe for such appointment. According to him, appointment of Justices of the Supreme Court would not be extended to Senior Advocates as the qualities required of the occupiers were lacking in Senior Advocates. Senior Advocates lacked the ‘proven experience or the temperance’, he said. The CJN went on: “The idea that we can appoint a legal practitioner, without the proven experience or the temperance of character developed through years of active participation in adjudication, may indeed be fraught with risk, none greater than the risk of creating another sinecure for party loyalists or reducing the Office of the Chief Justice of Nigeria to one which can be “lobbied” for. “This will undoubtedly and irreversibly hurt our justice system and must be strenuously resisted.” Full report on pages 19 to 21


4

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

SCHEDULE OF SKYE BANK’S 90 DAYS SMIS FORWARD SALES SN

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

1

FRADRO INTERNATIONAL LIMITED

PMS

30-Sep-16

280.50

2,403,000.00

2

FRADRO INTERNATIONAL LIMITED

PMS

30-Sep-16

280.50

2,485,000.00 3,317,279.08

3

ASCON OIL COMPANY LIMITED

PMS

30-Sep-16

280.50

4

TOTAL NIGERIA LIMITED

PMS

30-Sep-16

280.50

3,371,428.87

5

HEYDEN PETROLEUM LIMITED

PMS

30-Sep-16

280.50

3,705,000.00

6

BIOFEM PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

30-Sep-16

280.50

252,450.00

7

BIOFEM PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

30-Sep-16

280.50

60,000.00

8

BIOFEM PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

30-Sep-16

280.50

80,040.81 339,850.00

9

INTERNATIONAL TOBACCO CO. PLC

RAW MATERIALS

30-Sep-16

280.50

10

BIOFEM PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

30-Sep-16

280.50

47,350.00

11

DEEKAY & SONS NIGERIA LIMITED

CKD CHEST FREEZER

30-Sep-16

280.50

263,326.50 542,751.19

12

NEXUS FOR LIFE LIMITED

UNCOATED PLAIN PAPER IN SHEETS FOR EXERCISE BOOK PRODUCTION

30-Sep-16

280.50

13

GIMADO INDUSTRIES NIGERIA LIMITED

AUTO SPARE PARTS

30-Sep-16

280.50

60,000.00

14

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

30-Sep-16

280.50

300,000.00

15

VERONA PLASTICS LIMITED

PIPE EXTRUSION MACHINE

30-Sep-16

280.50

26,700.00

16

KERAKOLL NIGERIA LIMITED

MACHINERY

30-Sep-16

280.50

641,625.00 127,800.00

17

UNIQUE PHARMACEUTICALS LIMITED

PHARMACEUTICAL PRODUCTS

30-Sep-16

280.50

18

UNIQUE PHARMACEUTICALS LIMITED

PHARMACEUTICAL PRODUCTS

30-Sep-16

280.50

116,280.00

19

MARINE PLATFORM LIMITED

VESSEL PAYMENT

30-Sep-16

280.50

38,880,432.12

20

KEREKSUK INVESTMENTS LIMITED

RICE

30-Sep-16

280.50

210,000.00

21

KEREKSUK INVESTMENTS LIMITED

RICE

30-Sep-16

280.50

2,615,000.00

22

KEREKSUK INVESTMENTS LIMITED

RICE

30-Sep-16

280.50

615,000.00

23

KEREKSUK INVESTMENTS LIMITED

RICE

30-Sep-16

280.50

5,335,000.00 2,000,000.00

24

MARINE PLATFORM LIMITED

VESSEL PAYMENT

30-Sep-16

280.50

25

KERAKOLL NIGERIA LIMITED

IMPORTATION OF MACHINERY

30-Sep-16

280.50

26

KERAKOLL NIGERIA LIMITED

IMPORTATION OF MACHINERY

30-Sep-16

280.50

141,925.00

27

MRS OIL NIGERIA LIMITED

PMS

30-Sep-16

280.50

10,470,000.00

28

BUA FLOUR MILLS LIMITED

WHEAT

30-Sep-16

280.50

1,000,000.00

29

EMADEB ENERGY SERVICES

PMS

30-Sep-16

280.50

10,654,505.75

30

TAURUS OIL AND GAS LIMITED

PETROLEUM PRODUCTS

30-Sep-16

280.50

1,348,799.28

31

COMAX RESOURCES LIMITED

PLASTER OF PARIS

30-Sep-16

280.50

53,524.80

32

MONARCH STEEL MILLS LIMITED

FERRO SILICO MANGANESE

30-Sep-16

280.50

106,750.00

33

TAURUS OIL AND GAS LIMITED

IMPORTATION OF PETROLEUM PRODUCTS

30-Sep-16

280.50

1,099,990.86

34

DEEKAY & SONS NIGERIA LIMITED

IMPORTATION OF CKD FRIDGES REFRIGERATOR

30-Sep-16

280.50

133,340.00

35

NEWLIFE MEDICAL SERVICES LIMITED

SURGICAL EQUIPMENT

30-Sep-16

280.50

50,700.00

36

PLATINUM ASPHALT & CRUSHING COMPANY LIMITED

IMPORTATION OF FERRO MANGANESE

30-Sep-16

280.50

96,907.71

37

TRANSERVE DISC TECHNOLOGIES LIMITED

POLYCARBONATE RESIN

30-Sep-16

280.50

352,000.00 134,541.00

33,250.00

38

PHOENIX STEEL MILLS LIMITED

CONVERTER/LADLE GOODS: BOTTOM BLOCKS

30-Sep-16

280.50

39

AJOK AND SONS LIMITED

METALLIC YARN

30-Sep-16

280.50

54,885.00

40

LIFEPACK NIGERIA LIMITED

HOSPITAL EQUIPMENTS

30-Sep-16

280.50

19,853.02

41

FAS AGRO INDUSTRIES LIMITED

MACHINERY

30-Sep-16

280.50

1,189,241.65

42

FAS AGRO INDUSTRIES LIMITED

RAW MATERIAL (POLYPROPYLENE)

30-Sep-16

280.50

509,850.00

43

FAS AGRO INDUSTRIES LIMITED

RAW MATERIAL (POLYPROPYLENE)

30-Sep-16

280.50

509,850.00

44

FAS AGRO INDUSTRIES LIMITED

RAW MATERIAL (POLYPROPYLENE)

30-Sep-16

280.50

509,850.00

45

FAS AGRO INDUSTRIES LIMITED

RAW MATERIAL (POLYPROPYLENE)

30-Sep-16

280.50

509,850.00

46

FAS AGRO INDUSTRIES LIMITED

RAW MATERIAL (POLYPROPYLENE)

30-Sep-16

280.50

509,850.00

47

FAS AGRO INDUSTRIES LIMITED

RAW MATERIAL (POLYPROPYLENE)

30-Sep-16

280.50

509,850.00 97,794,627.64

SCHEDULE OF SKYE BANK’S 90 DAYS SMIS FORWARD PURCHASES FROM CBN SN 1

DATE OF FUND PURCHASE

SOURCE CENTRAL BANK OF NIGERIA

EXCHANGE RATE AMOUNT

30-SEP-16

280.00

AMOUNT 97,794,627.64 97,794,627.64

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES SN

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

1

A C OKECHUKWU NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

80,720.00

2

A. G. ALPHA GREY LIMITED

HARDNER & SOLID ECORANGE

26-Sep-16

280.50

113,650.00

3

AA GELAS INTERNATIONAL COMPANY LIMITED

SPRING AIR CHAMBER

26-Sep-16

280.50

49,495.00

4

AA GELAS INTERNATIONAL COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,000.00

5

ACHIME & COMPANY ENTERPRISES NIGERIA LIMITED

AGRICULTURAL WATER PUMP

26-Sep-16

280.50

72,000.00

6

ACHIME & COMPANY ENTERPRISES NIGERIA LIMITED

AGRICULTURAL WATER PUMP

26-Sep-16

280.50

72,000.00

7

ACHIME & COMPANY ENTERPRISES NIGERIA LIMITED

AGRICULTURAL WATER PUMP

26-Sep-16

280.50

72,000.00

8

ACHIME & COMPANY ENTERPRISES NIGERIA LIMITED

AGRICULTURAL WATER PUMP

26-Sep-16

280.50

72,000.00

9

ACHIME & COMPANY ENTERPRISES NIGERIA LIMITED

AGRICULTURAL WATER PUMP

26-Sep-16

280.50

72,000.00

10

ACME PACKAGING LIMITED

IMPORTATION OF TESTLINER AND FLUTING IN REELS

26-Sep-16

280.50

218,700.00

11

ACME PACKAGING LIMITED

RAW MATERIALS-TESTLINER AND FLUTING IN REELS

26-Sep-16

280.50

245,000.00

12

ACME PACKAGING LIMITED

PRINTER SLOTTER WITH STACKER

26-Sep-16

280.50

320,900.00

13

ADAMORE NIGERIA LIMITED

OF AGROVE TERINARY PRODUCTS

26-Sep-16

280.50

163,075.25

14

AG ALPHA GREY LIMITED

HARDENER AND SOLID ECORANGE

26-Sep-16

280.50

81,160.63

15

AGNUS DEI INTERNATIONAL COMPANY

STEEL DOOR

26-Sep-16

280.50

270,000.00

16

AGRO MATTERS LIMITED

MACHINERY

26-Sep-16

280.50

100,000.00

17

AIR PEACE LIMITED

AIRCRAFT MAINTENANCE

26-Sep-16

280.50

42,734.30

18

AIR PEACE LIMITED

AIRCRAFT MAINTENANCE

26-Sep-16

280.50

216,000.00

19

AJOK AND SONS LIMITED

IMPROVED NEWSPRINT PAPER

26-Sep-16

280.50

35,100.00

20

ALOKRISH LIMITED

ALUMIMINIUM FOIL

26-Sep-16

280.50

17,000.00

21

ALOKRISH LIMITED

RAW MATERIAL (CHEMICAL)

26-Sep-16

280.50

45,000.00

22

ALOKRISH LIMITED

PHARMACEUTICALS

26-Sep-16

280.50

8,450.00

23

ALOKRISH LIMITED

ALUMIMINIUM FOIL

26-Sep-16

280.50

25,893.00

24

AMARILO PLASTICS LIMITED

PVC SUSPENSION RESIN

26-Sep-16

280.50

68,598.00


5

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES SN

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

25

AMARILO PLASTICS LIMITED

DIOCTYLE PHTHALATE (DOP)

26-Sep-16

280.50

98,056.00

26

ANCHIEZ INTERNATIONAL CONCEPT LIMITED

IMPORTATION OF NEW AUTO PARTS

26-Sep-16

280.50

70,000.00

27

ANULI MADIF & SONS ENTERPRISES

AUTO SPARE PARTS

26-Sep-16

280.50

65,000.00

28

APEIRON NIGERIA LIMITED

PROCUREMENT OF MEDICAL EQUIPMENT

26-Sep-16

280.50

235,396.73

29

ASCON OIL AND GAS

GAS OIL

26-Sep-16

280.50

3,317,279.08

30

ASOSO BLUE LIMITED

UPS

26-Sep-16

280.50

80,000.00

31

AUTOKAB PARTS INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,200.00

32

AUTOKAB PARTS INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,200.00

33

AUTOKAB PARTS INDUSTRY

IMPORTATION OF AUTO SPARE PARTS

26-Sep-16

280.50

51,200.00

34

AUTOMOBILE CHEMICAL INDUSTRIES NIGERIA LIMITED

IMPORTATION OF DI-BENZOYL PEROXIDE

26-Sep-16

280.50

26,730.00

35

AVATA INDUSTRIES LIMITED

MOTOR CYCLE SPARE PARTS

26-Sep-16

280.50

202,500.00

36

BANNER ENERGY LIMITED

MACHINERY

26-Sep-16

280.50

38,153.93

37

BANNER ENERGY LIMITED

MACHINERY

26-Sep-16

280.50

38,153.93

38

BERKELEY PAYMENT SOLUTIONS LTD

ELECTRONIC CARDS AND PARTS

26-Sep-16

280.50

150,000.00

39

BESTLIME INTERNATIONAL NIG. LTD

WHITE QUICKLIME

26-Sep-16

280.50

45,616.50

40

BESTLIME INTERNATIONAL NIGERIA LIMITED

WHITE QUICKLIME

26-Sep-16

280.50

42,340.14

41

BIOFEM PHARMACEUTICAL LIMITED

RHOGAM UF PLUS -PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

66,000.00

42

BIOFEM PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS-

26-Sep-16

280.50

43,540.83

43

BIS-TEE VENTURES

BINDING WIRE

26-Sep-16

280.50

12,997.00

44

BMS INTERNATIONAL RESOURCES LIMITED

INDUSTRIAL RAW MATERIAL-FOOD COLOURS

26-Sep-16

280.50

16,780.00

45

BMS INTERNATIONAL RESOURCES LIMITED

INDUSTRIAL RAW MATERIAL-FOOD COLOURS

26-Sep-16

280.50

73,290.00

46

BMS INTERNATIONAL RESOURCES LIMITED

ODORIFEROUS MIXTURE

26-Sep-16

280.50

569,301.22 916,900.00

47

BRENTWOOD MULTISERVICES GLOBAL

IMPORTATION OF AUTOMATIC DATA PROCESSING MACHINE.

26-Sep-16

280.50

48

BRIGHT SHINE ELECTRICAL PRODUCTS

ELECTRICAL REGULATORS

26-Sep-16

280.50

96,595.00

49

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

93,672.32

50

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

129,203.20

51

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

129,203.20

52

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

164,734.08

53

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

258,406.40

54

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

258,406.00

55

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

258,406.40

56

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

145,824.00

57

BRIPAT NIGERIA LIMITED

PLASTER OF PARIS

26-Sep-16

280.50

258,406.40

58

BROLLO PIPE AND PROFILE INDUSTRIES LIMITED

HOT ROLLED STEEL SHEET

26-Sep-16

280.50

221,395.61

59

BUA FLOUR MILLS LIMITED

WHEAT

26-Sep-16

280.50

1,600,000.00

60

BULB RULE NIGERIA LIMITED

IMPORTATION OF NEW MACHINE SPARE PARTS

26-Sep-16

280.50

100,000.00

61

CASSAVA REPUBLIC PRESS LIMITED

BOOKS

26-Sep-16

280.50

565,000.00

62

CC GLAD WEST AFRICA LIMITED

26-Sep-16

280.50

29,410.41

63

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

25,240.00

64

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

47,300.00

65

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

29,470.00

66

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

25,600.00

67

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

45,500.00

68

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

26,722.00

69

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

27,492.00

70

CELINA COASTAL CRUST

AUTO SPARE PARTS

26-Sep-16

280.50

2,061.20

71

CELLOPACK INDUSTRIES LIMITED

IMPORTATION OF PLAIN (NON PRINTED) RIGID PVC BLOWN FILMS FOR PACKAGING

26-Sep-16

280.50

54,142.46

72

CELLOPACK INDUSTRIES LIMITED

IMPORTATION OF PLAIN (NON PRINTED) RIGID PVC BLOWN FILMS FOR PACKAGING

26-Sep-16

280.50

58,820.00

73

CEMENT COMPANY OF NORTHERN NIGERIA

IMPORTATION OF DUMP TRUCK (TRACTORS)

26-Sep-16

280.50

1,225,000.00

74

CENTURY GLOBAL AGRICULTURAL LIMITED

IMPORTATION OF KNAPSACK SPRAYER

26-Sep-16

280.50

28,480.00

75

CHEMICAL SYSTEMS LIMITED

INDUSTRIAL RAW MATERIAL

26-Sep-16

280.50

33,250.00 475,000.00

76

CHEN BEST INTERNATIONAL LIMITED

AGRICULTURAL MACHINERY SPARE PARTS CKD

26-Sep-16

280.50

77

CHIDICO-DEJI INVESTMENT LIMITED

NEW AUTO SPARE PARTS

26-Sep-16

280.50

70,000.00

78

CHIKAF JOE NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

100,000.00

79

CHIMACO RESOURCES LIMITED

AUTO PARTS

26-Sep-16

280.50

10,000.00

80

CHINASA ONEL INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

52,720.88

81

CHINASA ONEL INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

82

CHINASA ONEL INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

25,012.00

83

CHINELSON INVESTMENT COMPANY LIMITED

PAYMENT FOR IMPORTED ITEMS

26-Sep-16

280.50

80,000.00

84

CHIZZY NIGERIA LIMITED

CHEMICALS

26-Sep-16

280.50

117,000.00

85

CHRIST THE WAY AGRO TECH LIMITED

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

120,000.00 100,000.00

86

CHUDSTON INTERNATIONAL COMPANY LIMITED

IMPORTATION OF INDUSTRIAL OIL FILTER AND FUEL PUMP

26-Sep-16

280.50

87

CITIZEN CHEMICAL INDUSTRY NIGERIA LIMITED

IMPORTATION OF PLASTIC INJECTION MOULDING MACHINE

26-Sep-16

280.50

45,650.00

88

CKS INTERNATIONAL LIMITED

ESSENTIAL RAW MATERIALS

26-Sep-16

280.50

128,365.00

89

CLASSIC INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

68,578.10

90

CONTEC POWER SYSTEMS LIMITED

IMPORTATION OF ELECTRIC INVERTERS

26-Sep-16

280.50

148,090.00

91

CONTEC POWER SYSTEMS LIMITED

IMPORTATION OF ELECTRIC INVERTERS

26-Sep-16

280.50

124,114.00

92

COOSE INTERNATIONAL LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

67,150.00

93

COSLIN INTEGRATED SERVICES

AUTO SPARE PARTS

26-Sep-16

280.50

16,188.00

94

COSLIN INTEGRATED SERVICES LIMITED

PAYMENT FOR IMPORTED ITEMS

26-Sep-16

280.50

60,012.00 174,250.00

95

DECHARISMATA SYSTEMS NIGERIA LIMITED

IMPORTATION OF RAW MATERIALS-WHITE TOP KRAFTLINER

26-Sep-16

280.50

96

DECHARISMATA SYSTEMS NIGERIA LIMITED

KRAFTLINER IN REELS

26-Sep-16

280.50

252,000.00

97

DEEKAY & SONS NIGERIA LIMITED

IMPORTATION OF COATED PAPER BOARD

26-Sep-16

280.50

121,927.08

98

DEEKAY & SONS NIGERIA LIMITED

IMPORTATION OF BLENDER

26-Sep-16

280.50

71,710.00

99

DEEKAY & SONS NIGERIA LIMITED

ENAMELLED COPPER WIRES & AGRICULTURAL/HORTICULTURAL SPRAY

26-Sep-16

280.50

110,545.00

100

DEEKAY & SONS NIGERIA LIMITED

SECURITY DOOR

26-Sep-16

280.50

122,040.00

101

DEEKAY & SONS NIGERIA LIMITED

COATED PAPER BOARD

26-Sep-16

280.50

143,760.00

102

DEEKAY & SONS NIGERIA LIMITED

CKD AIR CONDITIONING MACHINE

26-Sep-16

280.50

10,000.00

103

DEEKAY & SONS NIGERIA LIMITED

COATED PAPER BOARD

26-Sep-16

280.50

168,600.00

104

DEEKAY & SONS NIGERIA LIMITED

HOT ROLLED STEEL SHEETS

26-Sep-16

280.50

179,680.00

105

DEEKAY & SONS NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

104,800.00

106

DESAFOL NIGERIA LIMITED

IMPORTATION OF BAKERY MACHINERY & EQUIPMENT

26-Sep-16

280.50

59,553.45

107

DOLCHINEK INDUSTRIES COMPANY LIMITED

IMPORTATION OF NEW AUTO SPARE PARTS

26-Sep-16

280.50

180,000.00 349,640.00

108

DONATEN INVESTMENT LIMITED

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

109

DONNY MOTORS NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,000.00

110

DOZZEC INDUSTRIES LIMITED

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

53,000.00

111

DUMEK AGRO ALLIED AND FOODS INDUSTRIES LIMITED

IMPORTATION OF NEW AUTO SPARE PARTS

26-Sep-16

280.50

41,036.00

112

DUMEK AGRO ALLIED AND FOODS INDUSTRIES LIMITED

IMPORTATION OF NEW AUTO SPARE PARTS

26-Sep-16

280.50

145,000.00

113

DUMEK AGRO ALLIED AND FOODS INDUSTRIES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

152,500.00

6


6

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

5

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES SN

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

114

E. O ADESHOGA SAWMILLS

CIRCULAR SAWBLADES

26-Sep-16

280.50

29,993.68

115

E.SSIA PRODUCT LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

116

E.SSIA PRODUCT LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

70,000.00

117

E.SSIA PRODUCT LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

20,000.00

118

E.SSIA PRODUCT LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,000.00

119

EASY MANGAS LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

63,000.00

120

EDDY O. INTERNATIONAL LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

150,000.00

121

EGONEKWU WEST AFRICAN LIMITED

IMPORTATION OF INSULATOR

26-Sep-16

280.50

100,000.00

122

EKO SUPREME RESOURCES NIGERIA LIMITED

IMPORTATION OF ODORIFEROUS SUBSTANCE AND SPECKLES

26-Sep-16

280.50

212,395.00

123

EKO SUPREME RESOURCES NIGERIA LIMITED

IMPORTATION OF RAW MATERIALS( ODORIFEROUS SUBSTANCE)

26-Sep-16

280.50

584,752.00

124

EKO SUPREME RESOURCES NIGERIA LIMITED

IMPORTATION OF RAW MATERIALS( ODORIFEROUS SUBSTANCE)

26-Sep-16

280.50

280,320.00

125

EKO SUPREME RESOURCES NIGERIA LIMITED

IMPORTATION OF RAW MATERIALS( ODORIFEROUS SUBSTANCE)

26-Sep-16

280.50

262,395.00

126

EKO SUPREME RESOURCES NIGERIA LIMITED

IMPORTATION OF RAW MATERIALS( ODORIFEROUS SUBSTANCE)

26-Sep-16

280.50

294,358.00

127

EKO SUPREME RESOURCES NIGERIA LIMITED

ACUTEX AND ODORIFEROUS SUBSTANCE

26-Sep-16

280.50

238,750.00

128

EL NAC INTERNATIONAL NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

245,909.24

129

EMERGING MARKETS TELECOMMUNICATIONS SERVICES

SOFTWARE SERVICE FEE

26-Sep-16

280.50

612,900.00

130

E-ODIS INTERNATIONAL LIMITED

IMPORTATION OF BABY WALKER

26-Sep-16

280.50

21,921.38

131

EPHECKMARIS CHEMICAL INDUSTRIES LIMITED

ENO WINE

26-Sep-16

280.50

22,400.00 123,895.80

132

FAREAST MERCHANTILE COMPANY LIMITED

IMPORTATION OF QUAKEROATS

26-Sep-16

280.50

133

FINGERS NIGERIA LIMITED

RAW MATERIAL FOR EXERCISE BOOKS PRODUCTION

26-Sep-16

280.50

53,350.00

134

FIRST ALUMINIUM NIGERIA PLC

IMPORTATION OF PLAIN ALUMINIUM COILS

26-Sep-16

280.50

209,000.00

135

FIRST CHOICE GLOBAL UTILITIES LIMITED

MEDICAL CONSUMABLES

26-Sep-16

280.50

69,406.05

136

FIRST GIWA FEED & AGRO TECH LIMITED

IMPORTATION OF ANIMAL FEEDS INGREDIENTS

26-Sep-16

280.50

100,958.25

137

FORESIGHT COMPANY LIMITED

INDUSTRIAL CHEMICAL

26-Sep-16

280.50

63,235.20

138

FOUR BROTHERS INDUSTRIES NIGERIA LIMITED

IMPORTATION OF SODIUM SALT PALMITIC ACID

26-Sep-16

280.50

31,000.00

139

FRANK COMFORT GLOBAL LINKS

NEW AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

140

G. T. AND IMPORTS NIGERIA LIMITED

RAW MATERIAL

26-Sep-16

280.50

156,604.00

141

G.MOER AND SONS LIMITED

ELECTRONICS

26-Sep-16

280.50

75,000.00

142

G.T AND IMPORTS NIGERIA LIMITED

IMPORTATION OF SODIUM SALT OF PALMITIC ACID FOR INDUSTRIAL USE

26-Sep-16

280.50

158,000.00

143

G.T AND IMPORTS NIGERIA LIMITED

IMPORTATION OF LIGHT MINERAL OIL

26-Sep-16

280.50

261,144.00

144

G.T AND IMPORTS NIGERIA LIMITED

LIGHT WHITE OIL

26-Sep-16

280.50

269,568.00

145

G.T. AND IMPORTS NIGERIA LIMITED

SODIUM SALT OF PALMITIC ACID FOR INDUSTRIAL USE

26-Sep-16

280.50

313,208.00

146

GABROVIC NIGERIA LIMITED

FISH FEED

26-Sep-16

280.50

111,746.00

147

GABROVIC NIGERIA LIMITED

FISH FEED

26-Sep-16

280.50

25,736.29

148

GBEN & FEMS GLOBAL SYNERGY LIMITED

BILLS REMITTANCE

26-Sep-16

280.50

100,000.00 123,750.00

149

GEETA PLASTICS PRODUCTS NIGERIA LIMITED

IMPORTATION OF INJECTION MOULDING MACHINE

26-Sep-16

280.50

150

GEETA PLASTICS PRODUCTS NIGERIA LIMITED

HIGH DENSITY POLYETHYLENE

26-Sep-16

280.50

70,500.00

151

GEETA PLASTICS PRODUCTS NIGERIA LIMITED

HIGH DENSITY POLYETHYLENE

26-Sep-16

280.50

70,500.00 374,816.00

152

GHADDAR MACHINERY $ COMPANY NIGERIA LIMITED

CDK GENERATORS ENGINES AL TERNATORS CONTROL PANELS

26-Sep-16

280.50

153

GIDBOLA IMPEX NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

25,000.00

154

GIDBOLA IMPEX NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

25,000.00

155

GIDBOLA IMPEX NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

89,790.00

156

GIDBOLA IMPEX NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

130,540.00 299,804.43

157

GIDBOLA IMPEX NIGERIA LIMITED

UNCOATED PLAIN PAPER

26-Sep-16

280.50

158

GIVANAS INDUSTRIES NIGERIA LIMITED

SODIUM SALT OF PALMIC ACID

26-Sep-16

280.50

501,986.54

159

GIVANAS INDUSTRIES NIGERIA LIMITED

SODIUM SALT OF PALMIC ACID

26-Sep-16

280.50

745,000.00

160

GIVANAS INDUSTRIES NIGERIA LIMITED

SODIUM SALT OF PALMIC ACID

26-Sep-16

280.50

149,000.00

161

GIVANAS INDUSTRIES NIGERIA LIMITED

SODIUM SALT OF PALMIC ACID

26-Sep-16

280.50

223,500.00

162

GIVANAS INDUSTRIES NIGERIA LIMITED

SODIUM SALT OF PALMIC ACID

26-Sep-16

280.50

495,000.00

163

GIVANAS INDUSTRIES NIGERIA LIMITED

ODORIFEROUS MIXTURE FOR INDUSTRIAL USE

26-Sep-16

280.50

76,375.92

164

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

72,426.67

165

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

53,487.80

166

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

69,828.81

167

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

68,805.74

168

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

26,434.63

169

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

23,249.99

170

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

30,328.65

171

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

31,929.40

172

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

35,652.27

173

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

41,784.50

174

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

67,984.52

175

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

41,524.91

176

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

41,755.19

177

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

60,755.24

178

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

76,394.48

179

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

17,487.59

180

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

55,390.41

181

GLOBAL APPLIANCE NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

64,257.47

182

GLOBAL APPLIANCES NIGERIA LIMITED

IMPORTATION OF BINATONE BLENDER FOR FOOD

26-Sep-16

280.50

50,063.70

183

GLOBE CHEM NIGERIA LIMITED

CHEMICALS

26-Sep-16

280.50

12,610.00

184

GLOBE CHEM NIGERIA LIMITED

CHEMICALS

26-Sep-16

280.50

93,960.00

185

GLOBE CHEM NIGERIA LIMITED

CHEMICALS

26-Sep-16

280.50

33,160.00

186

GLOBE CHEM NIGERIA LIMITED

CHEMICALS

26-Sep-16

280.50

93,960.00

187

GLOBE CHEM NIGERIA LIMITED

CHEMICALS

26-Sep-16

280.50

93,960.00

188

GOOSECO LIMITED

SPARE PARTS

26-Sep-16

280.50

22,525.00

189

GOOSECO LIMITED

SPARE PARTS

26-Sep-16

280.50

27,975.00

190

GOOSECO LIMITED

SPARE PARTS

26-Sep-16

280.50

21,750.00

191

GOOSECO LIMITED

SPARE PARTS

26-Sep-16

280.50

14,570.00

192

GOOSECO LIMITED

SPARE PARTS

26-Sep-16

280.50

23,975.00

193

GOOSECO LIMITED

SPARE PARTS

26-Sep-16

280.50

26,550.00

194

GOZI MORE EXCEL BUSINESS LINK

IMPORTATION OF NEW AUTO SPARE PARTS

26-Sep-16

280.50

80,000.00

195

GRANITO STONE GLOBAL CONCEPTS

STEEL DOORS

26-Sep-16

280.50

100,000.00

196

HAANO INDUSTRIES LIMITED

HAANO BRAND SAFETY MATCHES BRAND

26-Sep-16

280.50

65,475.00

197

HAANO INDUSTRIES LIMITED

HAANO BRAND SAFETY MATCHES BRAND

26-Sep-16

280.50

39,840.00

198

HANA PACKAGING LIMITED

HOPE LDPE LLOPE RAW MATERIAL

26-Sep-16

280.50

41,120.00

199

HANA PACKAGING LIMITED

HOPE LDPE LLOPE RAW MATERIAL

26-Sep-16

280.50

80,960.00

200

HEALTHLINE LIMITED

DRUGS AND PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

73,022.00

201

HEALTHLINE LIMITED

DRUGS AND PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

98,140.00

202

HEAVY MACHINERY DEALERSHIP LIMITED

IMPORTATION OF HEAVY EQUIPMENT

26-Sep-16

280.50

295,454.40


7

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

SN

CUSTOMER NAME

203

HEAVY MACHINERY DEALERSHIP LIMITED

IMPORTATION OF HEAVY EQUIPMENT

26-Sep-16

280.50

42,528.45

204

HOME GROWN LIMITED

RAW MATERIAL FOR INDUSTRIAL USE

26-Sep-16

280.50

178,700.00

205

INLAKS COMPUTERS LIMITED

EMERSON UPS MODEL NO. NX SERIES: 030-040-060KVA

26-Sep-16

280.50

125,985.00

206

INLAKS COMPUTERS LIMITED

IMPORTATION OF CASH DISPENSER UNIT

26-Sep-16

280.50

298,200.00

207

INTEGRAETED CHYNIC VENTURES LIMITED

MOTOR CYCLE SPARE PARTS

26-Sep-16

280.50

70,000.00

208

INTEGRATED POWER TECHNOLOGIES LIMITED

FSS-A43-SHA-K-1 POWER

26-Sep-16

280.50

139,749.99 224,616.50

209

INTEGRATED POWER TECHNOLOGIES LIMITED

SYSTEM SHARYS

26-Sep-16

280.50

210

INTEGRITY FARMS LIMITED

ZEIGLER CATFISH FEEDS

26-Sep-16

280.50

35,886.16

211

INTERCONTINENTAL DISTILLERIES LIMITED

IMPORTATION OF MACHINERY/SPARE PARTS

6-Sep-16

280.50

247,000.00

212

INTERNATIONAL STARCHEM INDUSTRIES LIMITED

RAW MATERIAL FOR THE PRODUCTION OF EXERCISE BOOKS.

26-Sep-16

280.50

230,000.00

213

INTERNATIONAL TOBACCO COMPANY

FINAL BLENDING STRIP

26-Sep-16

280.50

700,000.00

214

INTERNATIONAL TOBACCO COMPANY

BLENDED STRIPS

26-Sep-16

280.50

938,410.00

215

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

7,606.72

216

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

7,800.15

217

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

65,294.67

218

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

300,000.00

219

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

1,647.52

220

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

5,565.64

221

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

6,220.48

222

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

8,755.79

223

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

9,729.62

224

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

100,812.68

225

INTERNATIONAL TOBACCO COMPANY

SPARE PARTS

26-Sep-16

280.50

151,371.74

226

INTERNATIONAL TOBACCO COMPANY

FINAL BLENDING STRIPS

26-Sep-16

280.50

687,557.68

227

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS FOR CIGARETTE PRODUCTION

26-Sep-16

280.50

612,628.03

228

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS

26-Sep-16

280.50

955,993.08

229

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS

26-Sep-16

280.50

720,367.69

230

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS

26-Sep-16

280.50

200,054.00

231

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS

26-Sep-16

280.50

681,076.00

232

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS

26-Sep-16

280.50

312,085.04

233

INTERNATIONAL TOBACCO COMPANY

RAW MATERIALS

26-Sep-16

280.50

305,027.45

234

INTA FISHERIES NIGERIA LIMITED

FROZEN FISH

26-Sep-16

280.50

500,000.00

235

INTRA FISHERIES NIGERIA LIMITED

FROZEN FISH

26-Sep-16

280.50

538,038.00

236

INTRA FISHERIES NIGERIA LIMITED

FROZEN FISH

26-Sep-16

280.50

387,572.00

237

INTRA FISHERIES NIGERIA LIMITED

FROZEN FISH

26-Sep-16

280.50

804,375.00

238

ISA AYINLA VENTURES

HOT ROLLED FLAT SHEET

26-Sep-16

280.50

196,580.00

239

IZ LEGEND IMPEX LIMITED

IRON AND PESTICIDE SPRAYER

26-Sep-16

280.50

90,001.00

240

JAMIN INTERNATIONAL LIMITED

PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

67,938.80

241

JASPER BIOCHEMICALS & ALLIED PRODUCTS LIMITED

SODIUM SULPHITE (METABISULFITE FOOD GRADE

26-Sep-16

280.50

28,918.64

242

JASPER BIOCHEMICALS & ALLIED PRODUCTS LIMITED

SODIUM SULPHITE (METABISULFITE FOOD GRADE

26-Sep-16

280.50

17,857.14

243

JIMBEST AUTO SUPPLY COMPANY LIMITED

IMPORTATION OF BRAKE FLUID

26-Sep-16

280.50

63,828.00

244

JKK ONEWARE LIMITED

IMPORTATION OF SOFTWARE

26-Sep-16

280.50

121,428.57

245

JMG LIMITED

PAYMENT FOR SPARE PARTS FOR GENERATING SETS

26-Sep-16

280.50

126,151.97

246

JMG LIMITED

ELECTRICAL ASSESORIES

26-Sep-16

280.50

225,186.30

247

JMG LIMITED

IMPORTATION OF GENERATORS IN CKD FORM

26-Sep-16

280.50

119,240.84

248

JMSOU GLOBAL CONCEPT LIMITED

UNWROUGHT ALUMINIUM

26-Sep-16

280.50

100,000.00 245,684.00

249

JOOKAS AUTOMOBILE COMPANY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

250

JOOKAS AUTOMOBILE COMPANY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

36,000.00

251

JOOKAS AUTOMOBILE COMPANY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

150,000.00

252

JOOKAS AUTOMOBILE COMPANY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

150,324.00

253

JUBAILI BROS ENGINEERING LIMITED

PERKINS DIESEL ENGINE FOR GENERATOR ASSEMBLY

26-Sep-16

280.50

148,963.00

254

JUDDY -BOLEMA INDUSTRIES LIMITED

POLY PROPYLENE (PP) VIRGIN

26-Sep-16

280.50

145,204.00

255

K3 PACKAGING INDUSTRIES LIMITED

POLYESTER FILM

26-Sep-16

280.50

33,020.00

256

KAREN-HAPPUCK NIGERIA LIMITED

MANUFACTURING MACHINERY

26-Sep-16

280.50

70,001.00

257

KEN POWER NIGERIA LIMITED

NEW MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

50,000.00

258

KENCHEZ NIGERIA LIMITED

HYDRAULIC TRUCK CARNE

26-Sep-16

280.50

547,545.00 54,389.26

259

KENCHEZ NIGERIA LIMITED

PURCHASE OF SWAMP BUGGIE

26-Sep-16

280.50

260

KENVEE NIGERIA LIMITED

KITCHEN WARES & HOUSEHOLD ITEM

26-Sep-16

280.50

12,614.70

261

KOTEC INDUSTRIAL LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

300,000.00 200,000.00

262

KOTEC INDUSTRIAL LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

263

KRIST SEVEN LIMITED

ACCESSORIES FOR PRINTING MACHINE

26-Sep-16

280.50

43,065.00

264

KRIST SEVEN LIMITED

IMPORTATION OF POLYESTER FILM

26-Sep-16

280.50

37,919.71

265

KRIST SEVEN LIMITED

PALLET LOAD BOARDS

26-Sep-16

280.50

6,451.43

266

KRISTSEVEN LIMITED

PALLET LOAD BOARDS

26-Sep-16

280.50

29,350.00 500,000.00

267

LANYO LUGGAGE AND TRAVELLING BAGS LIMITED

RAW MATERIAL FOR MANUFACTURING BAGS

26-Sep-16

280.50

268

LATWELL INTERNATIONAL LIMITED

IMPORTATION OF CAUSTIC SODA PEARLS

26-Sep-16

280.50

26,190.00

269

LEO AND CLEM ENTERPRISES

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

50,100.00

270

LEO AND CLEM ENTERPRISES

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

27,050.00

271

LEO AND CLEM ENTERPRISES

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

26,000.00

272

LEO AND CLEM ENTERPRISES

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

50,100.00

273

LEO AND CLEM ENTERPRISES

MOTORCYCLE SPARE PARTS

26-Sep-16

280.50

19,800.00

274

LIFE-LINE PHARMACEUTICALS LIMITED

PHARMACEUTICAL PRODUCTS-DRUGS

26-Sep-16

280.50

112,485.00

275

LIVEZ VENTURES LIMITED

SPARE PARTS

26-Sep-16

280.50

300,000.00

276

MAAK ROBIS GLOBAL VENTURES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

40,000.00

277

MANAL MACHINERY NIGERIA LIMITED

1-SELF LOADING DIECI MIXER

26-Sep-16

280.50

82,140.00

278

MANAL NIGERIA LIMITED

CONSTRUCTION EQUIPMENT

26-Sep-16

280.50

23,244.00

279

MANAL NIGERIA LIMITED

CONSTRUCTION EQUIPMENT

26-Sep-16

280.50

62,900.00

280

MANAL NIGERIA LIMITED

CONSTRUCTION EQUIPMENT

26-Sep-16

280.50

60,580.00

281

MANTISSA AND ONAK LIMITED

IMPORTATION OF AUTO PARTS

26-Sep-16

280.50

15,000.00

282

MAPLE LEAF PRESS LIMITED

NON PRINTED FLEXIBLE PACKAGING

26-Sep-16

280.50

33,520.00

283

MAPLE LEAF PRESS LIMITED

BOOK BINDING MACHINERY,BOOK SEWING MACHINERY,MANUAL PAPER PUNCHING MACHINE & PARTS

26-Sep-16

280.50

188,971.30

284

MAPLE LEAF PRESS LIMITED

NON PRINTED FLEXIBLE PACKAGING

26-Sep-16

280.50

33,520.00

285

MARINE PLATFORM LIMITED

AFRICAN INSPIRATION VESSEL PAYMENT

26-Sep-16

280.50

5,030,719.00

286

MARLEYSHREE PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

28,000.00

287

MARLEYSHREE PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

28,000.00

288

MARLEYSHREE PHARMACEUTICAL LIMITED

PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

34,750.00

289

MASHABROS & SONS LIMITED

KITCHEN WARES & HOUSEHOLD ITEM

26-Sep-16

280.50

42,000.00

290

MEAN MARK INTER LINK LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

100,000.00

291

MELETE INVESTMENT LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

8


8

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

7

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES SN

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

292

MELETE INVESTMENT NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

80,000.00

293

MELETE INVESTMENT NIGERIA LIMITED

SPARE PARTS

26-Sep-16

280.50

80,000.00

294

MERCHANT INVESTORS LIMITED

IMPORTATION OF SODIUM BENZOATE

26-Sep-16

280.50

1,700.00

295

MERCURY MILLS LIMITED

ARTIFICIAL RESINS LLDPE EMERAUDE GRADE LLF1918E

26-Sep-16

280.50

83,448.75

296

MESSRS CHUKS NIG.ENTERPRISES

ELECTRONICS

6-Sep-16

280.50

35,230.00

297

MIKADO NIGERIA LIMITED

RAW MATERIALS (ETOSTERYL ALCOHOL & POLYSORBABTE)

26-Sep-16

280.50

38,478.00 151,907.69

298

MIKADO NIGERIA LIMITED

ODIFEROUS SUBSTANCES

26-Sep-16

280.50

299

MIKSON INDUSTRIES LIMITED

IMPORTATION OF BIO-TYLODOX PLUS, BIO-ANTICOC, BIO-ANTICOC BIO-DOXYGEN, BIOVIT PLUS

26-Sep-16

280.50

39,300.00

300

MIMARATHON RESOURCES LIMITED

SOFTWARE LICENCE

26-Sep-16

280.50

2,073,099.53

301

MIRA FLASH NIGERIA LIMITED

IMPORTATION OF AUTOMATIC CAPSULE FILLING MACHINE

26-Sep-16

280.50

43,550.00

302

ML-OKENWA GLOBAL

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

303

M-METLAR RESOURCES COMPANY

LABORATORY EQUIPMENTS

26-Sep-16

280.50

17,000.00

304

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

570,000.00

305

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

313,130.00

306

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

648,230.00

307

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

235,250.00

308

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

195,598.00

309

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

852,293.52

310

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

681,625.00

311

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

465,936.00

312

MOJEC INTERNATIONAL LIMITED

PREPAID METERS

26-Sep-16

280.50

218,500.00 110,500.00

313

MONARCH STEEL MILLS LIMITED

FERRO SILICO MANGANESE

26-Sep-16

280.50

314

MONARCH STEEL MILLS LIMITED

FERRO SILICO MANGANESE

26-Sep-16

280.50

85,400.00

315

MTN NIGERIA LIMITED

TELECOMMUNICATION EQUIPMENT

26-Sep-16

280.50

1,807,720.70

316

MTN NIGERIA COMMUNICATION LIMITED

TELECOM SERVICE FEE

26-Sep-16

280.50

225,150.00

317

N.N FEMS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL - PARAFFIN WAX

26-Sep-16

280.50

25,760.00

318

N.N FEMS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL - PETROLEUM JELLY

26-Sep-16

280.50

206,232.00

319

N.N FEMS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL - CETYL ALCOHOL

26-Sep-16

280.50

48,640.00

320

NAIJA GLOBAL LOGISTICS LIMITED

ELECTRONICS

26-Sep-16

280.50

104,009.47

321

NAIJA GLOBAL LOGISTICS LIMITED

ELECTRONICS

26-Sep-16

280.50

102,113.75

322

NATURAL PRIME RESOURCES NIGERIA LIMITED

ACUTEX TINOPAL CBS-X.SODIUM CARBONATE(DENS), TOTALASE WIN ( ENZYME) AND SPECKLES

26-Sep-16

280.50

238,528.80

323

NATURAL PRIME RESOURCES NIGERIA LIMITED

IMPORTATION OF SODA ASH LIGHT FOR THE PRODUCTION OF DETERGENT.

26-Sep-16

280.50

250,577.74

324

NATURAL PRIME RESOURCES NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

473,598.00

325

NATURAL PRIME RESOURCES NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

327,756.80

326

NATURAL PRIME RESOURCES NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

128,644.49

327

NATURAL PRIME RESOURCES NIGERIA LIMITED

RAW MATERIALS

26-Sep-16

280.50

277,016.06

328

NATURAL PRIME RESOURCES NIGERIA LIMITED

RAW MATERIALS

26-Sep-16

280.50

178,382.00 175,465.04

329

NATURAL PRIME RESOURCES NIGERIA LIMITED

SPAREPARTS

26-Sep-16

280.50

330

NATURAL PRIME RESOURCES NIGERIA LIMITED

SPAREPARTS

26-Sep-16

280.50

50,000.00

331

NATURAL PRIME RESOURCES NIGERIA LIMITED

ODIFEROUS SUBSTANCES

26-Sep-16

280.50

307,282.00

332

NATURAL PRIME RESOURCES NIGERIA LIMITED

ODIFEROUS SUBSTANCES

26-Sep-16

280.50

559,018.00

333

NATURAL PRIME RESOURCES NIGERIA LIMITED

SODIUM CARBONATE AND ODORIFEROPUS SUBSTANC

26-Sep-16

280.50

276,878.00

334

NATURAL PRIME RESOURCES NIGERIA LIMITED

SODIUM SULPHATE

26-Sep-16

280.50

231,300.00

335

NATURAL PRIME RESOURCES NIGERIA LIMITED

SODIUM SULPHATE

26-Sep-16

280.50

132,000.00

336

NATURAL PRIME RESOURCES NIGERIA LIMITED

ODORIFEROUS SUBSTANCE

26-Sep-16

280.50

434,000.00

337

NATURAL PRIME RESOURCES NIGERIA LIMITED

SODIUM CARBONATE

26-Sep-16

280.50

14,586.51

338

NATURAL PRIME RESOURCES NIGERIA LIMITED

ODORIFEROUS SUBSTANCE

26-Sep-16

280.50

434,000.00

339

NATURAL PRIME RESOURCES NIGERIA LIMITED

ODORIFEROUS SUBSTANCE

26-Sep-16

280.50

434,000.00

340

NATURAL PRIME RESOURCES NIGERIA LIMITED

TINOPAL CBS-X, SODIUM CARBONATE (DENS).

26-Sep-16

280.50

212,752.50 328,983.00

341

NATURAL PRIME RESOURCES NIGERIA LIMITED

SODIUM CARBONATE AND ODORIFEROPUS SUBSTANC

26-Sep-16

280.50

342

NDUKASTEN ENTERPRISES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

60,000.00

343

NELMACO GLOBAL RESOURCES LIMITED

IMPORTATION OF PVC MAKING MACHINE

26-Sep-16

280.50

136,900.00

344

NEW CHAMPION GLOBAL RESOURCES LIMITED

IMPORTATION OF SPARE PARTS

26-Sep-16

280.50

80,000.00

345

NEW HOME PRODUCTS

ELECTRONICS

26-Sep-16

280.50

118,241.25

346

NEW HOME PRODUCTS

ELECTRONICS

26-Sep-16

280.50

102,380.00

347

NEW HOME PRODUCTS

ELECTRONICS

26-Sep-16

280.50

340,337.60

348

NEW HOME PRODUCTS

ELECTRONICS

26-Sep-16

280.50

81,150.00

349

NEW HOME PRODUCTS

ELECTRONICS

26-Sep-16

280.50

71,646.72

350

NEW HOME PRODUCTS

ELECTRONICS

26-Sep-16

280.50

6,876.19

351

NEWLIFE MEDICAL SERVICES LIMITED

IMPORTATION OF MEDICAL EQUIPMENT

26-Sep-16

280.50

29,563.60

352

NEXUS FOR LIFE LIMITED

IMPORTATION OF UNCOATED PLAIN PAPER

26-Sep-16

280.50

2,749,978.00

353

NEXUS FOR LIFE LIMITED

UNCOATED PLAIN PAPER

26-Sep-16

280.50

131,549.60

354

NEXUS FOR LIFE LIMITED

UNCOATED PLAIN PAPER

26-Sep-16

280.50

104,119.74

355

NEXUS FOR LIFE LIMITED

UNCOATED PLAIN PAPER

26-Sep-16

280.50

59,400.00

356

NEXUS FOR LIFE LIMITED

UNCOATED PLAIN PAPER

26-Sep-16

280.50

299,804.43 244,925.86

357

NEXUS FOR LIFE LIMITED

UNCOATED PLAIN PAPER

26-Sep-16

280.50

358

NEXUS FOR LIFE LIMITED

LEAD ACID BATTERY BRAND

26-Sep-16

280.50

25,728.56

359

NIRON SERVICES LIMITED

RAW MATERIAL FOR BREWERY INDUSTRY

26-Sep-16

280.50

22,286.80

360

NONSEC INTERNATIONAL LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

450,000.00

361

NPR NR EUROPE AUTO INDUSTRIES LIMITED

IMPORTATION OF NEW AUTO SPARE PARTS

26-Sep-16

280.50

145,100.00

362

NUUB PHARMACY& VETERINARY NIGERIA LIMITED

IMPORTATION OF PHAMACEUTICAL PRODUCTS

26-Sep-16

280.50

23,500.00

363

OBAG GLOBAL LIMITED

IMPORTATION OF WATER PUMP

26-Sep-16

280.50

65,000.00

364

OBETA AND PARTNERS

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

365

OBIDOM TRADING COMPANY LIMITED

IMPORTATION OF NEW AUTO SPARE PARTS

26-Sep-16

280.50

45,000.00

366

OGOLIVIC INVEST LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

20,000.00

367

OGUCHI INTERNATIONAL LIMITED

BICYCLE PARTS

26-Sep-16

280.50

385,000.00

368

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

300,000.00

369

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

300,000.00

370

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

78,000.00

371

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

75,000.00

372

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

75,000.00

373

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

76,000.00

374

OJICAM COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

80,000.00

375

OKEE CEE INVESTMENT LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

100,000.00

376

OKEY DIVINE GLOBAL AGENCY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

40,000.00

377

OKY-SAMUEL INTEGRATED SERVICE LIMITED

BABY DIAPER

26-Sep-16

280.50

106,817.68 100,000.00

378

OLY-MEK NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

379

OLY-MEK NIGERIA LIMITED

IMPORTATION OF SPARE PARTS

26-Sep-16

280.50

50,000.00

380

OLY-MEK NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

80,000.00


9

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES SN

CUSTOMER NAME

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

381

OLY-MEK NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

70,000.00

382

OLYMEN AUTOMOBILE NIGERIA LIMITED

IMPORTATION OF NEW MOTOR SPARE PARTS

26-Sep-16

280.50

50,000.00

383

ONYAEGO NIGERIA LIMITED

ELECTRONICS

26-Sep-16

280.50

53,543.00

384

ONYI DIVINE PROMISE AND IYKE LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

125,000.00

385

OSSYLIEN INVEST LIMITED

NEW AUTO SPARE PARTS

26-Sep-16

280.50

70,000.00

386

PAL PHARMACUETICAL INDUSTRIES LIMITED

IMPORT OF PHARMACEUTICAL RAW MATERIALS

26-Sep-16

280.50

190,230.00

387

PAPERLAND INDUSTRIES LIMITED

UNCOATED PAPER WOODFREE OFFSETS IN SHEETS SIZE

26-Sep-16

280.50

300,000.00

388

PAPERLAND INDUSTRIES LIMITED

TONS WHITE PLAIN PAPER

26-Sep-16

280.50

620,000.00

389

PAVEK MANUFACTURING COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

31,082.00

390

PAVEK MANUFACTURING COMPANY LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

120,392.50 180,000.00

391

PELICAN VALUE CHAIN SOLUTIONS NIGERIA LIMITED

AUTOMATED POULTRY CAGE SYSTEM

26-Sep-16

280.50

392

PETRICHOR BOX FACTORY LIMITED

IMPORTATION OF AUTOMATIC BALING PRESS AND BALING WIRE

26-Sep-16

280.50

57,600.00

393

PETRICHOR BOX FACTORY LIMITED

CORRUGATED INDUSTRY WHITE TOP TESTLINER IN REELS

26-Sep-16

280.50

69,300.00 60,631.00

394

PETRICHOR INDUSTRIES LIMITED

MACHINERIES

26-Sep-16

280.50

395

PHOENIX STEEL MILLS LIMITED

FERRO COPPER MOULD TUBE

26-Sep-16

280.50

9,460.00

396

PHOENIX STEEL MILLS LIMITED

CONVERTER/LADLE GOODS

26-Sep-16

280.50

41,614.70

397

PHOENIX STEEL MILLS LIMITED

FERRO SILICO MANGANESE

26-Sep-16

280.50

74,520.00

398

PHOENIX STEEL MILLS LIMITED

FERRO SILICO MANGANESE

26-Sep-16

280.50

131,760.00

399

PHOENIX STEEL MILLS LIMITED

FERRO SILICO MANGANESE

26-Sep-16

280.50

92,205.00

400

POLY PRODUCTS NIGERIA LIMITED

COMPLETE MOULD

26-Sep-16

280.50

93,560.00

401

POLY PRODUCTS NIGERIA LIMITED

PET FILM TRANSPARENT

26-Sep-16

280.50

36,771.49

402

POLYTHENE ENTERPRISES

RAW MATERIAL - KRAFTLINER PAPER FOR CORRUGATED CARTONS

26-Sep-16

280.50

49,875.00

403

POWERPRO COMPANY LIMITED

IMPORTATION OF TEST EQUIPMENT FOR RELAYS/POWER QUALITY METER

26-Sep-16

280.50

23,922.90

404

PRINCE ANYI TOOLS VENTURES LIMITED

MACHINERY SPARE PARTS

26-Sep-16

280.50

138,000.00

405

PRISM STEEL MILLS LIMITED

FERRO SILICON MANAGANESE

26-Sep-16

280.50

74,520.00

406

PRISM STEEL MILLS LIMITED

FERRO SILICON MANAGANESE

26-Sep-16

280.50

131,760.00

407

PRISM STEEL MILLS LIMITED

FERRO SILICON MANAGANESE

26-Sep-16

280.50

92,205.00

408

PRISM STEEL MILLS LIMITED

SPARE PART FOR FURNACE

26-Sep-16

280.50

27,877.00

409

PRISM STEEL MILLS LIMITED

CONVERTER/LADLE GOODS

26-Sep-16

280.50

41,522.40

410

PRISM STEEL MILLS LIMITED

SILICON MANGANESE

26-Sep-16

280.50

101,430.00

411

PROMASIDOR NIGERIA LIMITED

BULK MULTI-PLY BAGS INSTANT WHOLE MILK POWDER FORTIFIED

26-Sep-16

280.50

94,259.20

412

PROTOGY GLOBAL SERVICE LIMITED

PREPAID METERS AND HHU WITH SOFTWARE

26-Sep-16

280.50

179,000.00

413

PULKIT ALLOY AND STEEL

BILLETS

26-Sep-16

280.50

500,000.00

414

PULKIT ALLOY AND STEEL

RAW MATERIAL-STEEL BILLETS

26-Sep-16

280.50

300,000.00

415

REAL EDITION INTERNATIONAL LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

65,000.00

416

RICHY GOLD INTERNATIONAL LIMITED

PHARMACEUTICAL RAW MATERIAL

26-Sep-16

280.50

120,774.00

417

RILDOMARK INVESTMENTS LIMITED

ELECTRONICS

26-Sep-16

280.50

20,758.70

418

RINGARDAS NIGERIA LIMITED

REC BITUMEN SRL FOR BITMEN IMPORT

26-Sep-16

280.50

2,503,455.07

419

RIPSY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

35,478.73

420

RIPSY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,000.00

421

RIPSY NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,000.00

422

ROYAL CHANTELLE LIMITED

IMPORTATION OF NICGRVAOL SPECIAL YARN FOR FILER BAG

26-Sep-16

280.50

23,500.00 54,500.00

423

RUMBU INDUSTRIES LIMITED

MACHINERY AND ACCESSORIES

26-Sep-16

280.50

424

SAMKING CHEMICAL LIMITED

ESSENTIAL INDUSTRIAL RAW MATERIALS

26-Sep-16

280.50

62,640.00

425

SAMKING CHEMICAL LIMITED

INDUSTRIAL RAW MATERIALS

26-Sep-16

280.50

96,560.00 310,232.00

426

SAMKING CHEMICAL LIMITED

INDUSTRIAL RAW MATERIALS

26-Sep-16

280.50

427

SAMPA AUTOMOTIVE NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

428

SAMPA AUTOMOTIVE NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

30,000.00

429

SANCTUS MARI CONCEPT LIMITED

RAW MATERIAL (ACRYLIC ENAMEL COATING AND THINNER)

26-Sep-16

280.50

80,000.00

430

SANTOSH INDUSTRIES LIMITED

SEASONING

26-Sep-16

280.50

321,777.06

431

SASANIK NIGERIA LIMITED

CANDLE ART Bg8

26-Sep-16

280.50

66,140.00

432

SCOTTS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL

26-Sep-16

280.50

38,600.00

433

SCOTTS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL

26-Sep-16

280.50

37,240.00

434

SCOTTS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL- PET RESIN

26-Sep-16

280.50

133,320.00

435

SCOTTS INDUSTRIES LIMITED

INDUSTRIAL RAW MATERIAL- PET RESIN

26-Sep-16

280.50

41,473.00

436

SHAKTI INDUSTRIED LIMITED

LOW DENSITY POLYTHTLENE

26-Sep-16

280.50

85,000.00

437

SHAKTI INDUSTRIED LIMITED

LOW DENSITY POLYTHYLENE

26-Sep-16

280.50

89,010.00

438

SHAKTI INDUSTRIED LIMITED

LINEAR LOW DENSITY POLYTHTLENE

26-Sep-16

280.50

86,940.00

439

SHANTINAV NIGERIA LIMITED

SPRINT VACUUM FLASKS

26-Sep-16

280.50

39,664.00

440

SHANTINAV NIGERIA LIMITED

RAW MATERIAL

26-Sep-16

280.50

43,995.00

441

SHNEZA LIMITED

VACUMM FLASK

26-Sep-16

280.50

40,432.00

442

SHNEZA LIMITED

VACUMM FLASK

26-Sep-16

280.50

22,552.00

443

SHNEZA LIMITED

VACUMM FLASK

26-Sep-16

280.50

22,552.00

444

SIMS NIGERIA LIMITED

IMPORTATION OF BRAND NEW ROYAL AIRCONDITIONERS IN CKD

26-Sep-16

280.50

36,130.00

445

SIMS NIGERIA LIMITED

IMPORTATION OF BRAND NEW AIRCONDITIONER IN CKD

26-Sep-16

280.50

143,448.00

446

SKILL G NIGERIA LIMITED

EDUCATIONAL MATERIALS

26-Sep-16

280.50

3,013,845.72

447

SKYLINE MEDICAL EQUIPMENTS NIGERIA

IMPORTATION OF MEDICAL EQUIPMENTS

26-Sep-16

280.50

35,150.56

448

SMILLING GRACE LIMITED

KEROSENE STOVES

26-Sep-16

280.50

40,350.80

449

SMILLING GRACE LIMITED

KEROSENE STOVES

26-Sep-16

280.50

38,470.40

450

SOLTEC PRODUCTS TECHNOLOGIES LIMITED

PVC NORMAL CLEAR SHEET

26-Sep-16

280.50

75,961.12

451

ST MAMA NIGERIA LIMITED

PHARMACEUTICALS

26-Sep-16

280.50

70,000.00 101,957.32

452

STARPOINT COMMODITIES LIMITED

RAW MATERIALS

26-Sep-16

280.50

453

STEEL DECO LIMITED

WROUGHT IRON

26-Sep-16

280.50

91,297.27

454

SUNLIGHT RESOURCES LIMITED

RAW MATERIAL

26-Sep-16

280.50

117,810.00

455

SUPER IYANO LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

60,000.00

456

SWAN PAINT NIGERIA LIMITED

RAW MATERIALS FOR PAINT INDUSTRIES

26-Sep-16

280.50

139,468.80

457

T.G. ARLA DAIRY PRODUCTS LIMITED

IMPORTATION OF DANO COOLCOW INSTANT FMP

26-Sep-16

280.50

256,568.00

458

TAURUS OIL AND GAS LIMITED

AUTOMOTIVE GAS OIL

26-Sep-16

280.50

1,900,000.00

459

TECNORAPP OVERSEAS LIMITED

TRAILER PARTS

26-Sep-16

280.50

81,600.00

460

TETA PHARMACEUTICALS LIMITED

IMPORTATION OF NANCIMAL QS TABLET ARTEMETHER +LUMEFANTRIME

26-Sep-16

280.50

17,500.00 15,000.00

461

TETA PHARMACEUTICALS LIMITED

DRUGS AND PHARMACEUTICAL PRODUCTS

26-Sep-16

280.50

462

TETA PHARMACEUTICALS LIMITED

HS 12 HAEMOGLOBIN SYRUP

26-Sep-16

280.50

45,003.57

463

THE BIBLE SOCIETY OF NIGERIA LIMITED

IMPORTATION OF BIBLE

26-Sep-16

280.50

60,250.00 149,607.04

464

THE BIBLE SOCIETY OF NIGERIA LIMITED

IMPORTATION OF BIBLE

26-Sep-16

280.50

465

THE BIBLE SOCIETY OF NIGERIA LIMITED

BIBLE

26-Sep-16

280.50

70,050.00

466

THE BIBLE SOCIETY OF NIGERIA LIMITED

BIBLE

26-Sep-16

280.50

111,000.00

467

THE BIBLE SOCIETY OF NIGERIA LIMITED

BIBLE

26-Sep-16

280.50

161,355.00

468

THE MUSTARD SEED AGRIC. INDUSTRIES DEVELOPMENT LIMITED

TOY CARS AND TRICYCLES

26-Sep-16

280.50

50,040.00

469

THE MUSTARD SEED AGRIC. INDUSTRIES DEVELOPMENT LIMITED

TOY CARS AND TRICYCLES

26-Sep-16

280.50

97,436.00

10


10

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

9

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD SALES ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

SN

CUSTOMER NAME

470

THE MUSTARD SEED AGRIC. INDUSTRIES DEVELOPMENT LIMITED

TOY CARS AND TRICYCLES

26-Sep-16

280.50

471

THE MUSTARD SEED AGRIC. INDUSTRIES DEVELOPMENT LIMITED

TOY CARS AND TRICYCLES

26-Sep-16

280.50

46,570.00

472

TIGERLOGIC SOLUTIONS LIMITED

MACHINERIES- IT EQUIPMENT

26-Sep-16

280.50

500,000.00

473

TISCO INDUSTRIES LIMITED

CHEMICAL RAW MATERIALS

26-Sep-16

280.50

57,281.92

474

TOO GOOD CLASSIC

NEW GENERATOR SPARE PARTS

26-Sep-16

280.50

30,000.00 1,025,000.00

96,334.00

475

TORAH ATLANTIC OIL AND ENERGY LIMITED

IMPORTATION OF GAS OIL

26-Sep-16

280.50

476

TRANSERVE DISC TECHNOLOGIES LIMITED

POLYCARBONATE RESIN

26-Sep-16

280.50

246,000.00

477

TRANSERVE DISC TECHNOLOGIES LIMITED

POLYCARBONATE RESIN

26-Sep-16

280.50

101,786.94 17,323.45

478

TROPICAL CULTURE LIMITED

IMPORTATION OF POULTRY KEEPING MACHINERY

26-Sep-16

280.50

479

TRUTHMILES LIMITED

VACCINE FOR VETINARY

26-Sep-16

280.50

4,099.00

480

TSL LOGISTICS LIMITED

GAS OIL

26-Sep-16

280.50

3,616,137.09

481

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

149,608.00

482

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

108,642.40

483

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

34,659.75

484

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

105,712.73

485

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

107,875.20

486

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

143,833.60

487

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

34,659.75

488

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

69,502.57

489

UBADIMMA NIGEIRA LIMITED

ELECTRONIC GOODS

26-Sep-16

280.50

69,892.31

490

UNIGO RESOURCES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

200,000.00

491

UNIGO RESOURCES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

77,633.40

492

UNIGO RESOURCES LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

200,000.00

493

UNIQUE PHARMACEUTICALS LIMITED

RAW MATERIALS

26-Sep-16

280.50

191,100.00

494

UNIQUE PHARMACEUTICALS LIMITED

RAW MATERIALS

26-Sep-16

280.50

191,880.00

495

UNIQUE PHARMACEUTICALS LIMITED

RAW MATERIALS

26-Sep-16

280.50

78,437.76

496

UNIVERSAL LUGGAGES INDUSTRIES LIMITED

POLYPROPYLENE (RAW MATERIAL)

26-Sep-16

280.50

121,400.00

497

VEEVEE PAPER PRODUCTS LIMITED

RAW MATERIALS

26-Sep-16

280.50

585,000.00

498

VEEVEE PAPER PRODUCTS LIMITED

RAW MATERIALS

26-Sep-16

280.50

508,690.06

499

VEEVEE PAPER PRODUCTS LIMITED

RAW MATERIALS

26-Sep-16

280.50

291,773.00

500

VEEVEE PAPER PRODUCTS LIMITED

LOAN REPAYMENT

26-Sep-16

280.50

315,000.00

501

VINELIGHT GLOBAL LINKS LIMITED

NEW AUTO SPARE PARTS

26-Sep-16

280.50

70,000.00

502

VISTA INTERNATIONAL LIMITED

RAW MATERIAL FOR THE PRODUCTION OF EXERCISE BOOKS

26-Sep-16

280.50

31,000.00

503

VISTA INTERNATIONAL LIMITED

IMPORTATION OF UNCOATED WOODFREE PAPER GRAMMAGE

26-Sep-16

280.50

90,000.00

504

W.J BUSH & COMPANY NIGERIA LIMITED

RAW MATERIALS FOR MANUFACTURING OF COSMETICS

26-Sep-16

280.50

44,048.00

505

W.J BUSH & COMPANY NIGERIA LIMITED

RAW MATERIALS FOR PACKAGING OF COSMETICS

26-Sep-16

280.50

68,249.00

506

W.J BUSH & COMPANY NIGERIA LIMITED

RAW MATERIALS FOR PRODUCTION OF PETROLEUM JELLY

26-Sep-16

280.50

119,850.00

507

W.J BUSH & COMPANY NIGERIA LIMITED

RAW MATERIALS FOR MANUFACTURING OF COSMETICS

26-Sep-16

280.50

122,051.00

508

W.J BUSH & COMPANY NIGERIA LIMITED

RAW MATERIALS

26-Sep-16

280.50

238,925.00

509

WANDEL INTERNATIONAL LIMITED

IMPORTED TVS KINGS TRICYCLE

26-Sep-16

280.50

219,437.15

510

WATERCREST INVESTMENT LIMITED

OFFLINE UPS STATIC CONVERTER UNITS

26-Sep-16

280.50

99,300.00

511

WHITEDOTS INVESTMENTS LIMITED

CALCIUM HYDROXIDE

26-Sep-16

280.50

25,550.00

512

WHITEX INDUSTRIES LIMITED

CHEMICALS

26-Sep-16

280.50

83,600.00

513

WHITEX INDUSTRIES LIMITED

CHEMICALS

26-Sep-16

280.50

83,600.00

514

WHITEX INDUSTRIES LIMITED

CHEMICALS

26-Sep-16

280.50

53,328.00

515

WHITEX INDUSTRIES LIMITED

CHEMICALS

26-Sep-16

280.50

35,552.00

516

WINCOTECH LIFTS LIMITED

IMPORTATION OF ONE PASSENGER LIFT

26-Sep-16

280.50

23,694.62

517

YOMADIPX TRADING NIGERIA LIMITED

CKD FOR PUBLIC ADDRESS EQUIPMENT

26-Sep-16

280.50

24,605.00

518

ZACO GLOBAL RESOURCES NIGERIA LIMITED

AUTO SPARE PARTS

26-Sep-16

280.50

50,000.00 3,273,399.81

519

ZEEFACTO OIL AND GAS LIMITED

GAS OIL

26-Sep-16

280.50

520

ZEKWES INDUSTRIES LIMITED

IMPORTATION OF VARIOUS PANELS FOR SCHOOL BAG

26-Sep-16

280.50

83,000.00

521

ZEX STANDARD PHARMACEUTICALS LIMITED

PHARMACEUTICAL RAW MATERIAL

26-Sep-16

280.50

614,000.00 104,056,051.87

SCHEDULE OF SKYE BANK’S 60 DAYS SMIS FORWARD PURCHASES FROM CBN SN 1

DATE OF FUND PURCHASE

SOURCE CENTRAL BANK OF NIGERIA

26-SEP-16

EXCHANGE RATE AMOUNT 280.00

AMOUNT 104,056,051.87 104,056,051.87

SCHEDULE OF SKYE BANK’S SALES FOR THE WEEK SEPT. 26 - 30, 2016 ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

SN

CUSTOMER NAME

1

DEEKAY AND SONS (NIGERIA) LIMITED

CKD CHEST FREEZER

27-Sep-16

310.00

17,783.00

2

PAUCO PHARMACEUTICAL INDUSTRIES NIGERIA LIMITED

PHARMACEUTICALS RAW MATERIALS

27-Sep-16

310.00

50,000.00

3

GIDBOLA IMPEX NIGERIA LIMITED

SPARE PARTS

27-Sep-16

310.00

25,260.00

4

GIDBOLA IMPEX NIGERIA LIMITED

SPARE PARTS

27-Sep-16

310.00

46,148.00

5

GIDBOLA IMPEX NIGERIA LIMITED

SPARE PARTS

27-Sep-16

310.00

45,116.00

6

PAUCO PHARMACEUTICAL INDUSTRIES NIGERIA LIMITED

PHARMACEUTICALS RAW MATERIALS

29-Sep-16

310.00

29,000.00

7

OLUFUNMILAYO ADENIKE BRIGHT

SCHOOL FEES PAYMENT

29-Sep-16

315.00

3,110.02 216,417.02

SCHEDULE OF SKYE BANK’S PURCHASES FOR THE WEEK SEPT. 26 - 30, 2016 SN

SOURCE

DATE OF FUND PURCHASE

EXCHANGE RATE AMOUNT

AMOUNT

1

AUTONOMOUS

27-SEP-16

309.50

2.

AUTONOMOUS

29-SEP-16

314.50

184,307.00 3,110.02

3.

AUTONOMOUS

29-SEP-16

309.50

29,000.00 216,417.02


11

MONDAY, October 3, 2016 NEW TELEGRAPH

Interview Tinubu’s outburst against Oyegun, not a sign of crisis – Momoh

Politics

14

PDP fights on despite defeat The Edo State governorship election has come and gone, but the battle is yet to be over as the Peoples Democratic Party (PDP), which rejected its outcome, has announced plan to challenge the victory of the All Progressives Congress (APC) at the election petition tribunal. Felix Nwaneri reports

T

he September 28 governorship election in Edo State lived to it pre-poll billing as another test of might between the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) after both parties slugged it out in last year’s Kogi and Bayelsa states governorship elections. The election’s outcome also proved bookmakers, who predicted a two-horse race between the candidates of ruling APC, Mr. Godwin Obaseki and opposition PDP, Pastor Osagie Ize-Iyamu, right, as the other 17 candidates, who contested the poll just made up the number. After what many analysts have described as the stiffest governorship contest in the history of the state, the Independent National Electoral Commission (INEC) declared Obaseki winner. He garnered majority of the votes cast, polling a total of 319,483 votes to beat IzeIyamu, who polled 253,173 votes. Besides garnering majority of total votes cast, the APC candidate also won majority votes in 13 of the 18 local governments in the state, losing the remaining five to the PDP candidate. And INEC chief returning officer in the state, Prof. Kayode Soremekun, who announced the final results, declared Mr. Obaseki the governor-elect of the Heartbeat State. The close-call witnessed was not

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Ize-Iyamu

Obaseki

surprising to most political analysts and observers. APC and parties stood head to head going into the poll. Both have held sway in the state at various times – PDP for 10 years (1999 to 2009) and APC for eight years (2009 to date). While the elections have been won and lost, it was however not without drama and intrigues Nigeria’s electoral process is noted for. PDP: Results manipulated But the PDP in the state immediately rejected the results describing it as adulterated. The party’s chairman, Dan Orbih, alleged that the results were fabricated and predetermined. “If you go by the results that were announced at the polling units and wards across the state, it shows the PDP would have won by over 30,000 votes,” Orbih said at a press conference, shortly after the result was declared. Orbih alleged that the two weeks extension of the poll by the electoral body was to allow for more time to perfect the manipulation of the governorship election. His words: “You will recall that our state Publicity Secretary had briefed the press less than 48 hours to the election on what is playing out now. If you go by the results that were announced at the polling units and wards across the state, it shows that PDP would have won by over 30,000 votes. “What INEC is announcing is clearly different from what we got from our agents and independent observers in the 192 wards and over 2,000 units across the state. We are rejecting these results as been announced by the INEC and we are

The results are not a true reflection of what happened on the field

coming out early enough to make this known.” Orbih said the cancellation of some results on the basis of failed card readers, was part of deliberate plan to also manipulate the poll as the areas were results were canceled, we’re strong hold of the PDP. “I wonder what incident form is for. Voters should not be made to suffer unduly for the inefficient of card readers, he further said. Ize-Iyamu, who also aligned with the position of his party, also alleged that results were fabricated to suit the APC. His words: “The results are not a true reflection of what happened in the field. The INEC only played a script written by the government of Edo State. The delay in announcing the results by INEC was purely predetermined to do what they are doing now, which is to announce fabricated results that are completely in invariance with what happened in the units. “To show that the results were pre-determined and written; if you look at the figures announced by INEC, you will find out that it does not reflect the huge turnout which they INEC attested to.” Edo PDP in an official reaction, said it was amazed at the details of the results released by INEC because all of them are fake and not the figures announced at various units and as collated at various wards across the state. The party’s statement signed by its Publicity Secretary, Chris Nehikhare, read in part: “The fake results announced by INEC are entirely fabrications which do not reflect the true picture of what transpired during the election. However, we are not totally surprised because long

before now, we had anticipated this and had also warned INEC, security agencies and alerted Edo people at various press conferences and statements, on this situation. “Secondly, based on the results emanating from across the state, PDP won the election fair and square, and with a very comfortable margin. So it is with disgust that we have been receiving fake results which were never recorded in either the units or the ward collation centers. “Our rejection of the results released by INEC so far is based on, but not limited to, the following: “We know that a fair turnout of voters was recorded statewide because the weather was very clement and voters were enthusiastic. However, unknown to unsuspecting Edo electorate, INEC had long provided the serial numbers of all result sheets to Adams Oshiomole and his APC government, to print fresh result sheets. This is not a mere allegation. From the benefit of hindsight, the 18-day period of postponement of the election was to provide enough time for the governor and his government to print these result sheets and perfect the writing of fake results at the units and at all levels of collation. “Everything that has transpired had been carefully designed by the Adams Oshiomole led Edo State government and their cohorts in INEC. They perfected a scheme to void thousands of ballot papers, to enable them perpetrate their devices. It is widely recorded that over 88 per cent of the voided ballots were PDP votes. “There are numerous accounts CONTINUED ON PAGE 13


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27-Sep-16

28-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

3 ECOBANK

4 ORDINARY DOMICILLIARY PURCHASED

5 IMTSO

6 IMTSO

7 ORDINARY DOMICILLIARY PURCHASED

8 FCMB

9 IMTSO

10 IMTSO

11 ORDINARY DOMICILLIARY PURCHASED

12 ORDINARY DOMICILLIARY PURCHASED

13 DIAMOND BANK

14 IMTSO

15 IMTSO

16 IMTSO

17 IMTSO 335.80

336.16

340.48

341.91

305.25

308.00

308.00

336.05

336.77

305.50

308.00

336.00

336.87

308.04

305.00

310.00

1,276,802.58

5,553.96

2,176.53

673.89

523.43

100,000.00

441.68

11,583.97

2,411.58

4,945.57

100,000.00

876.62

1,053.57

4,111.79

760,200.00

100,000.00

100,000.00

EXCHANGE RATE AMOUNT PURCHASED ($) 82,250.00 310.00

UMRAH SERVICES

SCHOOL FEES

SCHOOL FEES

SCHOOL FEES

SCHOOL FEES

SCHOOL FEES

SCHOOL FEES

44 TAFSAN TOURS AND TRAVELS LTD

45 ARIBO PETER

46 ODUDU EJIROGHENE SUCCESS

47 BOLAJI BOLODEOKU SHUAIB

48 AMINU ABDULRAZAK YUSUF

49 RABI USMAN

50 AMINA YUSUF USMAN

SCHOOL FEES

PHR

43 NARASIMHAN GRAMA

RAW MATERIAL FOR PLASTIC INDUSTRY

41 TRISA NIG LTD

42 MUDATHIR LAWAL

LIVING EXPENSES

SCHOOL FEES

RAW MATERIAL FOR PLASTIC INDUSTRY

38 OLUYEMI AYODELE M

39 ADEDUN ABIMBOLA

SCHOOL FEES

37 AIMIENWANU IKHUORIA

40 TRISA NIG LTD

SCHOOL FEES

36 EGWELE JOSEPH

LOW DENSITY POLYETHYLENE

33 KIARA INDUSTRIES NIG LTD

SCHOOL FEES

LATTICE TOWERS AND ACCESSARIES

32 SANCOMEX LTD

SCHOOL FEES

CAPITAL MACHINERY -VARIOUS COMPONENTS

31 AARTI ROLLING MILLS LTD

35 KEEPERS INVESTMENT LTD

FACILITY FEE PAYMENT

30 STERLING BANK PLC

34 KEEPERS INVESTMENT LTD

BDC SALE

LIVING EXPENSES

PTA

27 OLABODE OLABANJI

29 IBRAHIM OSENI OLATUNBOSUN

PTA

26 BABALOLA SAMUEL

28 GTX BDC LTD

INDUSTRIAL RAW MATERIAL

UNLEADED GASOLINE

INDUSTRIAL RAW MATERIAL

23 BULK STRATEGIC RESERVE LTD

25 SUNCHEM INDUSTRIES LTD

SIM CARDS

22 UNITEL SYSTEMS LTD

24 SUNCHEM INDUSTRIES LTD

INDUSTRIAL WRAPPING MACHINERIES

INDUSTRIAL EQUIPMENT MAKE KRONES

21 RITE FOODS LTD

PHOTOCOPYING OF PREFORM SAMPLES

19 PRIMA CORPORATION LIMITED

20 RITE FOODS LTD

PREFORMS OF POLYSTER PET

VIKRANT BRAND TRUCK NYLON TYRES

AGRIC PARTS LOTUS

18 SOM0TEX NIG LTD

26-Sep-16

FISH FARM FEEDING SYSTEM AND FISH FARM COMPONENTS

15 SHALDAG LIMITED

16 AMOPAT VENTURES

17 RITE FOODS LTD

26-Sep-16

SCHOOL FEES

14 LADEINDE LAKOYEDE AKINOLA

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

SCHOOL FEES

CFA FEES

13 AGBOOLA SAMUEL OLADEJO

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

26-Sep-16

DATE OF FUND PURCHASED

12 STERLING HEALTH MANAGED CARE SERVICES LTD

HOME COUNTRY REMITTANCE

11 HIGH COMMISSION OF INDIA ABUJA

SCHOOL FEES

9 ADEGUN ADEGBOYEGA ADELANI

SCHOOL FEES

SWIFT SUBSCRIPTION

TUITION FEES

WHT PAYMENT

6 STERLING BANK PLC

8 DESTINY PET AND ALLIED PRODUCTS LTD

INTEREST PAYMENT

5 STERLING BANK PLC

7 STERLING BANK PLC

PRINTED BOOKS

SCHOOL FEES

4 DEESBEC NIG LTD

RAW MATERIAL FOR PLASTIC INDUSTRY

3 NARRATIVE LANDSCAPE PRESS LTD

BRAND NEW MTU SPARE PARTS

ITEM OF IMPORT

2 TRISA NIG LTD

CUSTOMER/FXPD/NON-FXPD

1 STAG ENGINEERING NIG LTD

10 EXECUTIVE DEVELOPMENT CENTRE LTD

S/NO.

EXCHANGE RATE

RETURNS ON UTILIZATION OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY, 30-09-2016

TOTAL

26-Sep-16

2 EXPORT PROCEEDS

DATE OF FUND PURCHASED

SOURCE 1 CCI

S/NO.

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

345.56

346.13

310.50

305.50

305.50

308.54

310.50

346.13

305.50

346.13

305.50

305.50

305.50

305.50

305.50

305.50

305.50

305.50

305.50

305.50

310.50

305.50

305.50

305.50

305.50

305.50

305.50

305.50

305.50

308.54

308.54

305.50

305.50

305.50

353.26

1,375.00

1,363.00

500.00

990.00

780.32

956.42

465.00

8,000.00

8,799.78

4,000.00

810.73

2,000.00

4,000.00

797.00

818.33

1,236.39

602.89

6,000.00

4,264.03

4,269.95

10,000.00

5,253.60

3,965.36

2,000.00

1,200.00

1,749.11

1,626.09

16,666.45

5,450.00

549.62

4,226.96

335.88

1,889.47

715.51

2,174.74

82,067.99

1,800.00

350.00

1,000.00

10,000.00

5,658.77

2,203.35

3,700.82

2,872.99

68,200.00

682,000.00

7,200.00

6,754.00

6,000.00

100,000.00

AMOUNT SOLD ($) INDUSTRIAL RAW MATERIAL

PLASTIC RAW MATERIAL

HIGH DENSITY POLYTHLENE REIN IMTSO IMTSO IMTSO IMTSO

103 CENTRAL BANK OF NIGERIA 104 CENTRAL BANK OF NIGERIA 105 CENTRAL BANK OF NIGERIA 106 CENTRAL BANK OF NIGERIA TOTAL

RAW MATERIAL FOR PLASTIC INDUSTRY 102 RITE FOODS LTD

SCHOOL FEES

CAPITAL MACHINERY -VARIOUS COMPONENTS

MASS TRANSIT BUSES WITH SPARE PARTS

SCHOOL FEES

LIVING EXPENSES

BLUETOOTH INTERACTIVE PIGGYBANK, TOKENS

HEIDELBERG MOVPH

IMTSO

IMTSO

LINEAR LOW DENSITY POLYTHYLENE

FULLY AUTOMATIC EXERCISE BOOK MAKING MODEL

VIKRANT BRAND TRUCK NYLON TYRES

INDUSTRIAL RAW MATERIAL

MACHINERY SPARES FOR BOTTLING PLANT

PLASTIC RAW MATERIAL

MACHINERY FOR STORAGE AND REPRODUCTION OF ELECTRIC CURRENT

GAZPROMNNDFT STANDARD

FT FCL INDUSTRIAL RAW MATERIALS

DANO COOL COW FILLED MILK

PRT RESINS

CABLE MAKING MACHINE

SIM CARDS

POLYTHYLENE RESINS

AGRICULTURAL GRINDING MILLS

COLD SAW FOR TUBE MILL

DANO COOL COW FILLED MILK

DRUGS AND PHARMACEUTICALS

AGRICULTURAL GRINDING MILLS

PRIME HOT ROLLEDCHEQURED STEEL

POLYESTER CHIPS POLYTHYLENE

MASS TRANSIT BUSES WITH SPARE PARTS

COMPLETE HYDRAULIC LIFT

RELPET RESIN

METACRYLIC ACID

COLD SAW FOR TUBE MILL

AGRICULTURAL GRINDING MILLS

BITUMEN PRESSURE DISTRIBUTOR

BUTYL ACRYLATE

PUMP

REFUELLER

ENGINE OIL

INDUSTRIAL RAW MATERIAL

TAMPER PROOF BLACK PLASTIC CLOSURE WITH LOGO

DANO COOL COW FILLED MILK

INDUSTRIAL RAW MATERIAL

INDUSTRIAL RAW MATERIAL

CAPITAL MACHINERY -VARIOUS COMPONENTS

MERCEDES-BENZ BULLION VAN

101 TRISA NIG LTD

100 PAUL-TAIWO ADEOYE OLUKOYA

99 AARTI ROLLING MILLS LTD

98 PRIMERO TRANSPORT SERVICES LTD

97 OLUYEMI AYODELE M

96 ADEDUN ABIMBOLA

95 MARIANAH INTL LINKS LTD

94 TOMAD PRINTAZ LIMITED

93 CENTRAL BANK OF NIGERIA

92 CENTRAL BANK OF NIGERIA

91 MAYFAIR AGRO ALLIED NIG LTD

90 BINANI PRINTING PRESS LIMITED

89 SOM0TEX NIG LTD

88 SUNCHEM INDUSTRIES LTD

87 SEVEN UP BOTTLING CO PLC

86 INTER-SWASTIK NIGERIA LTD

85 GODY JONAS ENT LTD

84 ADIREJE WEST AFRICA LTD

83 STARTREND INDUSTRIES LIMITED

82 T. G. ARLA DAIRY PRODUCTS LTD

81 PRIMA CORPORATION LIMITED

80 MANCHESTER INDUSTRIES LTD

79 GLO MOBILE LIMITED

78 PRIMA CORPORATION LIMITED

77 BENEGINES BUSINESS ENTERPRISES LTD

76 AARTI STEEL NIGERIA LTD

75 T. G. ARLA DAIRY PRODUCTS LTD

74 ANNIE PHARMA LTD

73 D2H SERVICES LTD

72 AARTI STEEL NIGERIA LTD

71 PRIMA CORPORATION LIMITED

70 PRIMERO TRANSPORT SERVICES LTD

69 POLYFIRM SERVICES NIG LTD

68 PRIMA CORPORATION LIMITED

67 NYCIL LIMITED

66 AARTI STEEL NIGERIA LTD

65 D2H SERVICES LTD

64 HAMMOUD AND SONS LTD

63 NYCIL LIMITED

62 CANDIX ENGINEERING NIG LTD

61 CONOIL PLC

60 PZ OIL AND LUBRICANT LTD

59 SUNCHEM INDUSTRIES LTD

58 CONOIL PLC

57 T. G. ARLA DAIRY PRODUCTS LTD

56 SUNCHEM INDUSTRIES LTD

55 SUNCHEM INDUSTRIES LTD

54 AARTI ROLLING MILLS LTD

53 UTOBRAS NIGERIA LTD

52 SUNCHEM INDUSTRIES LTD

51 INTER-SWASTIK NIGERIA LTD

RETURNS ON SOURCES OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 30-09-2016

27-Sep-16

27-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

29-Sep-16

28-Sep-16

28-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

27-Sep-16

306.00

306.00

335.80

336.16

340.48

341.91

305.75

305.75

345.56

305.75

305.75

305.75

305.75

306.00

305.50

336.77

336.05

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

306.00

463.63

1,274,959.15

4,165.47

1,632.40

505.42

392.57

40,000.00

7,000.00

2,231.95

20,000.00

30,000.00

2,000.00

1,000.00

866.75

6,549.50

3,709.18

1,808.69

60.81

110.00

55.34

2,133.90

170.94

415.95

1,102.49

411.33

116.00

79.04

445.21

792.68

1,279.74

167.67

382.64

1,375.30

783.96

441.00

656.75

50.00

695.77

9,269.95

421.39

60.00

110.00

392.80

758.53

50.00

883.00

919.13

670.31

871.05

1,412.89

490.00

973.84

1,275.67

1,039.29

10,000.00

1,669.68

20,000.00

12 MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH


POLITICS

MONDAY, October 3, 2016 NEW TELEGRAPH

Obaseki celebrating his victory with supporters

PDP supporters protesting at INEC office in Benin, yesterday

13

Edo: Battle shifts to the courts C O N T I N U E D F R O M PA G E 1 1

and records of Police harassment all over the state, designed to strike fear in the hearts of PDP members, using men of the CIB (Criminal Investigation Department), SARS, MOPOL 60 Command, DSS and other security agencies. Of particular concern is the atrocious gangsterism demonstrated in Etsako West, the home of the incumbent APC governor and the deputy governor nominee, where many of our members and agents were assaulted, almost mortally, and some still being detained as we speak. “There was deliberate connivance with INEC staff to steal materials and results in various wards. We particularly take note of materials stolen at Ologbo, Ikpoba Okha, Nikorogha, Ovia South West, Urhonigbe in Orhionmwon, Udaba in Etsako Central, Opoji in Esan Central and many others. “To put it mildly, Edo 2016 has turned out to be a travesty of our democracy, and it is calamitous that in spite of all the atrocities committed by APC, nothing happened to thugs like Osakpamwan Eriyo who went to George Idah Primary school in Oredo Local government area, to snatch results in the full glare of the Police, DSS and INEC officials. Shooting, chasing and scaring away voters, and even international observers, is nothing short of a bastardisation of our hard earned democracy. We will do everything within the law to claim our mandate.” Other parties call for cancellation The PDP was not alone in rejecting the outcome of the election. Five other parties out of the 19 political parties which contested the poll rejected the result declared by INEC and called for its cancellation. Like the PDP, the parties – Kowa Party, Action Alliance (AA), Social Democratic Party (SDP), Advanced Congress of Democrats (ACD) and New Nigeria Peoples Party (NNPP), insisted that the figures announced by the electoral commission were at variance with those which their respective agents obtained from the polling units across the state. The candidates of the parties – Frank Ukonga (NNPP), Andrew Igwemoh (ACD), Omorogieva Gbajumo (SDP), Thompson Osadolor (Kowa) and Ishaka Paul (AA), who addressed a press conference in Benin, unanimously accused INEC of falsifying the results to favour the APC. “The results that INEC made public do not tally with what most if not all our agents came back

home with. We are calling for the cancellation of the entire election because INEC gave APC the PDP votes,” Ukonga claimed. Igwemoh said there were glaring errors in the figures computed by INEC in an election that was marred by open exchange of money between party agents and the voters. “I am calling for the cancellation of the results especially that of Etsako West Local Government because what transpired on the field is not what INEC made public. The mathematical errors are too obvious to be ignored,” he said. Gbajumo on his part said: “It is clear that the votes declared by INEC are not correct. Even parties which were not on the ballot were allocated some votes by the electoral empire which shows that something does not add up.” For Osadolor of Kowa, there was a peaceful election across the state which raises question over voiding of votes by INEC. “It is a shame on INEC and it should the needful by ensuring that the voice of Edo people which was loud and clear on September 28 is reflected by declaring the true results of the elections,” he said. The AA candidate, Ishaka, said INEC results were prepared before the election, arguing that this explains the postponement of the election date, whereas sensitive electoral materials had been sent out by the commission. His words: “INEC Is not telling the truth. I can say the results that gave victory to another party rather than the PDP is a replay of a rehearsed template because there is nothing to link the results from the field with that INEC gave.”

APC: PDP are bad losers While the opposition parties kick, the APC, which is still celebrating its victory, described the PDP and its candidate as bad losers. Chairman of the party in the state, Mr. Anselm Ojezua, said it is unfortunate that the opposition party could reject the outcome of a process described as peaceful. According to him, the rejection of the election results by the PDP was an act of a bad loser. He added that it was a pity that PDP expected to win in a state that it had run down. “This is just a case of a bad loser. It is a pity that the PDP expects to win in a state which it had run down. The process was very peaceful. INEC was efficient in delivery of materials to ensure that they got to locations on time.” He therefore advised the party to channel

This is just a case of a bad loser. It is a pity that the PDP expects to win in a state which it had run down

its grievances to the appropriate quarters. Governor Oshiomhole, who also dismissed the opposition’s claim, said his party’s victory marks the total demystification of political godfathers who had hitherto held the state hostage as well as the dismantling of their rigging machinery. His words: “Over the last eight years, we have tried to orientate our people not just the voters but politicians that the season of election rigging, where one or two godfathers write the results is over and we were committed to dismantling the rigging machine. “We have a rerun in 2012 with all the godfathers on one side and new forces of change on my side, I won in all the 18 local government areas. Our people have spoken loud and clear that they believe in democracy, they just don't want to be beneficiaries, they want to be the drivers of the process. This was showed by the way they conducted themselves on election day. “It is outstanding and remarkable that tensed as the election was with all the predictions, the APC won 15 out of the 18 local government areas decisively. Those who were loudest in making noise have been revealed where they stand in relation with Edo people. “We have humbled Chief Tom Ikimi even in the local government he claimed to have created. We defeated Chief Raymond Dokpesi in his polling unit, his ward and his local government. In Okada, the political family that has boasted that they will continue to govern this state and even compelled the state to adopt them as the queen of England whose birthday must be celebrated was rejected. “In Esan land, the senatorial zone of the PDP godfather, we won two out of the five local governments. We gave him a fight that he managed to escape. He used the factor of his age to play on the emotion of the people. It is a victory for the people of the state. Edo people are now proud they can now determine who rules them and no one godfathers can choose a leader for them.” The winner – Obaseki – in his reaction said the election is over and it is time to bury the hatchet and close ranks for the good of Edo State. “Our state is superior to all other interests and we must, as individuals, subordinate our personal ambitions to that of the collective. Let me say that a new future beckons. I pledge to work tirelessly for the good of all Edo people, irrespective of gender, social status, ethnicity, religion or political affiliation.”

Battle shifts to the court While the verbal war over the poll’s outcome rages, the APC camp has advised the PDP to seek redress in court rather than resort to violence. The Special Adviser to Governor Oshiomhole on Political Matters, Hon. Charles Idahosa, who spoke at the weekend against the backdrop of protest by PDP members at INEC office in Benin, asked Ize-Iyamu to go court if he feels aggrieved about the outcome of the election instead of engaging in what he described as an unlawful protest. “Ize-Iyamu actions from day one showed that he is not ready for election. Instead of focusing on issues, he was busy insulting Oshiomhole, who has played his role as governor. His desperation was further jeopardised by Chief Lucky Igbinedion, who said his political family will produce the next governor of Edo State not knowing that Edo people are not fools.” His position was corroborated by the APC National Youth Leader, Ibrahim Dasuki Jalo. According to him, “whoever is not satisfied with the process can proceed to the election tribunal to seek redress, which is the normal thing in a democratic setting.” He added: “The process was free and fair. It is clear that APC has come to stay in the country and Nigerians trust the party and President Muhammadu Buhari. It is normal in a democratic setting that whenever an election is held and results are announced, some political parties do not agree with it. But this is why we have tribunals, so that anyone who has grievances can go there and seek redress.” PDP heeds to call The PDP seems to have heeded to the call for it to seek redress in court as Orbih disclosed this on Friday while speaking on a radio programme. He said the party insists that the results declared by INEC were manipulated to favour the APC and that the PDP, as a party that believes in democratic ideals will challenge the election at the tribunal. “Since INEC went ahead to declare the candidate of the APC winner of the election despite the objection our agents raised at the state collation centre, we have no other option to approach the elections petition for redress,” the Edo PDP chairman said. As the battle shift to the courts, the focus of the two foremost parties shifts to Ondo State, where governorship election is billed to hold on November 10.


14

POLITICS \ Monday INTERVIEW

MONDAY, October 3, 2016 NEW TELEGRAPH

Tinubu’s outburst against Oyegun, Prince Tony Momoh is a former Minister of Information and Culture. In this interview with TEMITOPE OGUNBANKE, the All Progressives Congress (APC) chieftain speaks on the outcome of Edo State governorship election, the Muhammadu Buhari administration, internal wrangling in APC, among other issues The Edo State election was keenly contested between your party and the Peoples Democratic Party (PDP). Did you envisaged such? The battle lines were drawn. The battle was won and lost; won by APC, lost by PDP because both parties were the two gladiators and either of the two parties could have won the election. People are solidly behind us and all we can do is to look forward and grow the state together. What do you think was responsible for APC's victory in the election? A number of factors could be adduced for the victory of the APC. First, APC was in power in Edo State; Secondly, APC controls the centre. Thirdly, APC promised change and brought change to Edo State and has the opportunity to continue with the change. Lastly, the APC is lucky than the PDP. Do you think the votes of Edo people really counted during the election? Why didn’t it count? There were over one million registered voters and we had over 500,000 people that voted for both PDP and APC. Did those numbers emerged from the grave? But the PDP and some parties alleged that the election was marred with a lot of irregularities? My people have a saying that when a child is beaten, you should allow the child to cry. They are the one telling the story. As a journalist, I believe in fact that can be proved. So, they should back their allegations with proof. Fortunately, there is a proceeding for doing that. There is election tribunal, so let them head to the tribunal. When Governor Adams Oshiomhole was denied of victory during the 2007 governorship election, he went to the tribunal and tribunal declared him winner of the election. So, the election is not over until all the processes of redress are over. They can go to the tribunal and if the tribunal favour them; then that is part of the due process of choosing leaders in Nigeria. How would you assess the performance of INEC and the security agencies during in the election? I was in Edo State and I know that they did very well. In Auchi for in-

Momoh

stance, where we have four wards, there was not one vote cancelled and there was no area of caution where people were destabilised and everything was smooth because in addition to the security presence, we have vigilantes and Auchi vigilantes are known all over as warriors. Nobody was there to destabilise Auchi and we had smooth voting in all the 35 polling units. I can speak of Auchi, there was no rigging. If anybody alleges malpractices, its not Auchi. People came early and INEC staff were there early. They started accrediting people early and immediately someone is accredited, the person votes immediately and go. And all that happened until results started coming in. Even before counting started, there were a lot of hired writers posting results online. To me, some of the journalists and those in the communication business are the ones causing the trouble. A lot of people started announcing results even when voting has not finished. I think, we as journalists who know that facts are very sacred should be very careful in carrying out our duties in order for us not to be parts of the problem. Would you say the performance of Governor Adams Oshiomhole’s administration contributed to APC victory in Edo State? Chief Samuel Ogbemudia, our icon in Edo State testified to the fact that one person beat his own record in Edo State and that was Oshiomhole. Oshiomhole did very well and anybody who wants to know what happened should go to Edo State and visit all the roads, schools, water and everything Oshiomhole did and will give him that credit. And the gentleman, who is taking over, Godwin Obaseki will fortunately

improve on what Oshiomhole did. So you believe that Obaseki is a good replacement for Oshiomhole? Obaseki was the brain box of Oshiomhole’s administration and Oshiomhole himself acknowledged it. Obaseki will be to Edo State what Babatunde Fashola was to Lagos State. Bola Tinubu who is a digital politician brought out Fashola when there were other persons closed to him that he would have brought out; but he brought out Fashola. Fashola was a technocrat, so is this Obaseki. Obaseki is a technocrat and Oshiomhole brought him out and we are going to gain from Obaseki, the way Lagos gained from Fashola.

You can say a party is divided if at a particular level of discipline, you have people on different sides

What are the key areas that you think the incoming administration should quickly focus on in Edo State? He should embark on continuous improvement on infrastructure; roads, schools, water and others. He should also focus on agricultural and education. Every person in the old Western Region benefitted from investing in education and Edo State was in the old Western Region. Our people even borrowed money to send children to schools and that was an area of challenge that anybody in government in Edo State must focus on. I believe Obaseki will improve on what Oshimhole has done in the area education. What is your assessment of Nigeria at 56? At 56, if we look back to when we are one; that is in 1961, you will see that there are lot of explosion in every aspect of life, political, social, economy, cultural and even foreign policy. But the fact is that

the speed of movement is not as satisfactory as Nigerians would want. There ought to be more industries, employments and economy ought to be perfect. But these are the challenges to all the governments at the national, state and local levels. We thank God for adding one year to our life. The prediction that Nigeria will break up did not come to materialise. I believe and I have always said it that God has an anointing for Nigeria and Nigeria will continue to be one. We should look at the positive side of life. God say for everything that happened, thank me. Even for the recession, we should thank God Almighty. Because recession like this challenge people to very tough decision and tough decision are being taken. This recession will help us to wake up to the potentiality of Nigeria. What do you think is Nigeria’s major problem in the last 56 years and how do you think we can solve the problem(s)? One of the problems has been issue of discipline. At different times, different administration introduced ways of internalising values and even in holding those values through War Against Indiscipline. There have been levels of indiscipline in our life. People are increasing in acts of indiscipline through various crimes, fraud, bribing and cheating. Imagine a Level 10 officer having houses in Abuja and building estates worth N2billion, N3billion or N10billion. What type of country are we? There is so much indiscipline and fraud. Some people collected money to buy arms and they shared the money. Some people collect money to provide power, they shared the money. There is more than $26bil-


POLITICS \ Monday INTERVIEW

MONDAY, October 3, 2016 NEW TELEGRAPH

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not a sign of crisis – Momoh lion that we had in the power sector, which could have given us about 25,000 megawatts of electricity, but where is the money? So, all these areas of indiscipline have been a problem for us for over 50 years. I am not blaming the last administration; I am talking of indiscipline in our manifestation of life in the Nigeria environment. We must restore discipline. Those want to be change, put up your hand; everybody will put up their hands. Those who want to be changed put up your hands; everybody will put down their hands. There is no change without people being changed. We should work on ourselves to do to others what we want others to do to us. That is the solution; a change in the values we inherited from people and our institutions. But some Nigerians are of the view that the Muhammadu Buhari administration is not doing enough to tackle the recession in the country.... Manna started falling from heaven between Egypt and Canaan, and once the Israelites got to Canaanland, Manna stopped falling from heaven. We have been importing food ,spending about most of the $4billion we earn every month on importing food including toothpick, tomatoes and vegetables from a foreign land when as a matter of fact there are hundreds of miles of forest that we ought have used to grow our own food. There is no food we consume that we cannot grow in Nigeria but we refused to grow the food. We import rice from Thailand instead of growing it at home. All those things we ought to do we refused to do them. So, if we want food, we should grow it. Manna will not fall from heaven in Nigeria. If we want food we should grow the food because the only language that hunger understands is food. Buhari is not going to borrow money to import food when we can grow the food in Nigeria. Do you believe in the call for restructuring of Nigeria? Of course, l do! I have been speaking on restructuring of Nigeria since 2002 in the pamphlet I titled ‘To Save Nigeria Lets Talk’. The cost of governance is too high. What are we doing with full time legislative, when it can be done part time? What are we doing with heavy concentration of power at the centre and the federal government is giving crumbs to the states and local governments, and nobody is ready to work. Everybody looks forward to the monthly distribution of allocation from Abuja and go home waiting for the next distribution, that is ultimate indiscipline. We must restructure so that those who earned can contribute to the running of the government, not that we take money from the centre and give to the states. But there are fears that some people are afraid of restructuring? Those are afraid of restructuring don’t have knowledge of what it entails. Fear comes from ignorance. There are sacrifices we must make for Nigeria to grow. We should live

particular body that is in a position to decide your case. The fate of Jibril can be decided by the House of Representatives inspite of whether he went to court, party forum or the Nigerian public. So, the House suspended him because they have power to suspend him. Whether that suspension is popular or not is another matter. But the House has power to suspend him.

for Nigeria and not live on Nigeria. Are you worried about the cries of hunger and unemployment in the country? The question of anybody complaining may not arise if we are able to rise up and confront our challenges. If you are hungry, the farms are there; the land is there, go and clear the land and grow food. Some will be up for harvest in three to four months; some like yam and cassava will be up in a year. People should go and farm. If you refuse to farm, you would go hungry. That is what I am saying. You must fertilise the land and then prosperities would come. There is no short court to prosperities, Nigerians are looking for magician. I know that Buhari is not a magician. Why did you say Buhari is not a magician? It is not a magician because he is a very practical person. Those we had in the past will want to make themselves magicians, they will promise something and they won’t do it, is taht what you want. Buhari will tell you how it is and I can assure you, he will fulfil. How do you see the suspension of Hon. Jibrin for 180 days by the House of Representatives The House of Representatives is the law making arm of government, they are autonomous. They have House rules and they exercise their powers within the rules of the House which they have. So, if for instance Hon. Jibrin had any issue which he has brought to the public domain and the public says we support you or we don’t support you. If the House rules are brought to bear on the issue, then the rules must apply. So, Hon. Jubrin’s refusal to appear before the House Committee because according to him he will not get fair hearing, with them it is a matter that is an internal affair of the House. The House Committee said they were ready to deal with the matter openly as Jibrin demanded and he still refused to appear. What do you take discipline to mean? Discipline includes acting according to guideline of a

Momoh

At present the APC leaders and members are believe to be divided into various camps and groups within the party. What is your take on this? There is no faction in the party.

There are sacrifices we must make for Nigeria to grow

But some people are of the view that President Buhari, Asiwaju Bola Tinubu, Atiku Abubakar and John Odigie-Oyegun are leading different camps within the APC... Tinubu is national leader of the party, which group is he leading and against who? Which faction is he leading and against who? He is a national leader of the party and he is one of the party’s bigwigs. He knows the structures of the party. He knows the level of discipline if there is any problem. The National Working Committee is an organ of the party that run the day-to-day activities of the party and they report to National Executive Committee of the party and there is also party caucus. You can say a party is divided if at a particular level of discipline, you have people on different sides. So, Tinubu as a leader of the party expressed his personal view; does that mean the party is factionalised? And if so, which faction does he belong to? There is no crisis in the party. But how do you reconcile the call by Tinubu that the APC national chairman should resign, if you say there is no crisis in the party? Tinubu is a personality in his own right; he is a leader of the party and he is a person who has a stake in a particular issue in a particular area where he expressed opinion. So, you can locate whatever is happening at that level. If you think that by the virtue of the statement that Tinubu issued that the chairman should go because of what he did in respect to Ondo State APC governorship primary, that doesn’t mean that there is a faction in the party. So, in that respect, Tinubu is entitled to have a candidate but he has no right and he did not even expressed any right to impose any candidate. So, if there is disagreement at that level, then you can see Tinubu speaking as a personality and party man in his own right; not as someone who is leading a faction in the party. He has a right to do what he did but my own better view is that he would have taken it to a higher organ of the party for the issue to be discussed rather than come out as an individual to expressed an opinion. But I am only expressing an opinion but he is the one who expressed his opinion, he knows what to do and I cant dictate to him. But Atiku Abubakar also supported Tinubu’s view? Atiku is also an individual. Tinubu is an individual. Buhari is an individual. Tony Momoh is an

individual. They can express their opinion on any issue. But when it comes to Tony Momoh expressing an opinion on a matter, it doesn’t mean that he is in a particular faction of the party. There is no faction in the party. But don’t you think this seeming division may affect the chances of your party in the Ondo guber next month.... There is no division! Are you saying Atiku and Tinubu are in one camp according to you and perhaps the chairman, who has not even spoken is in the other camp? All these issues are minor issues that touched on people’s ways of reacting to issues, they will be resolved at the appropriate meetings, so there is no problem. The truth is that if you are not organised, you lose. If we were not organised in Edo State and if have allowed some little disagreements that happened after the primaries, we may have lost the election. We will win Ondo State if we are organised and we will lose if we don’t organise. So do you see your party resolving the fallout of Ondo State APC governorship primary? The issue of Ondo State would be resolved. The party will look at all the personal opinion expressed on the issue by leaders and members of the party and we will work on them. Some Nigerians and the PDP called on President Buhari to resign over the current economic recession. What is your take on this? Those who call on President Buhari to resign are expressing their personal opinion. Section 39 of the constitution allows freedom of expression. Nobody can deny them of their rights to express their opinion. In Nigeria’s constitution, there is due process for every step to take. The only way for Buhari to resign is he takes the decision to resign. Another way is if he is impeached by the National Assembly. I know that the National Assembly can never succeed in impeaching him. Another thing is that if his term is over and he asks to be given the ticket again in 2019 and he loses in the election. Nobody can ask him to resign. People are only expressing their personal opinion and they are being open. By calling on him to resign, obviously they may be drawing attention to certain things that , which he may have to revisit. Those are areas of protests. If you want the tusk of an elephant, you can ask for the whole elephant. The manner of asking for them is do this for us or you resign. What is your take on the calls for the federal government to sell some national assets in order to mitigate the effect of recession the country is currently facing? There are many assets that the country can do away with especially companies that are moribund. But companies that pay their own wage, nobody will dare sell them. Let me tell you that Buhari will never endorse the sale of any property that is a national asset especially those that are thriving.


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MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

Opinion

The silver lining in a master stroke Dominik Umosen

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he strong message that a man of destiny and a man distinguished by the grace of God should walk away from provocation has manifested fully in the life of former Deputy-Governor of Akwa Ibom State and Managing-Director designate of the Niger Delta Development Commission (NDDC), His Excellency Nsima Ekere. After resigning as deputy-governor, soft-spoken Ekere walked away with his dignity soaring higher than whatever a fuss would have dragged his uncharacteristically electric style into. Naturally, this unconventional style of politics confounded many, especially those not familiar with the enduring humility that continues to define this man of destiny who carries his business accomplishment with remarkable understatement and whose appointment has been hailed by stakeholders as reflective of President Muhammadu Buhari’s resolve to entrust genuine development of the neglected oil-rich and restive Niger Delta in the most dependable hand. Indeed, the political re-invention of Mr Fixit (as the master strategist is fondly called), by providence compensates for the general disappointment felt by admirers after he suddenly resigned as deputy governor. Unfolding events actually underscore the fact that there was basis for this position. The eruption of spontaneous endorsements since the appointment testifies to the robust and massive support Ekere enjoys across the Niger Delta where he oversees a rich network of contacts from his Port Har-

court base. From a humble beginning which he has never taken for granted throughout his career, the new NDDC boss built a successful business empire that is understandably anchored on his professional passion- real estate. And as a committed family man, he has toiled without scandal or needless controversy, building a rich network of contacts across the region and earning a solid reputation as a team player who abhors fights and insults, no matter the provocation. As a matter of fact, a valid testimony to the fact that Ekere is a man of destiny is the sudden volte face by his former principal, and Senate Minority Leader, Chief Godswill Akpabio who was left with no choice than to urge his colleagues in the red chamber to consider his overwhelming endorsement for the NDDC top job, especially by civil society groups and youths across the tension-soaked region. The significance of Ekere’s huge endorsement for the job and general expectation in the region is that under his watch, restiveness will crumble and the Niger Delta will regain its strategic significance because his leadership enjoys genuine synergy and confidence, especially among youths who consider him a leader they can trust; someone with a track record of dependable partnerships that is easily verifiable. A consummate strategist who inspires genuine confidence among youths (the power base for militancy that has derailed the country’s economy), the predominant argument among stakeholders is that Ekere’s appointment testifies to Buhari’s genuine commitment to walk the talk of reconciliation and development in a region that has suffered untold neglect and economic brigandage despite its relevance as mainstay of the country’s economy. And

The Niger Delta will regain its strategic significance

because his private contribution to capacity development across the region where he maintains a rich network of contacts is significant, the expectation is that he will leverage on the wider platform provided by the commission to fasttrack genuine development in the long-suffering region; an enduring challenge whose resolution he contributed significantly and eminently to even in his private capacity. Testimonials in his favour include endorsements like the statement by the Southern Youths Leadership Forum (SYLF), after its recent meeting in Port Harcourt. Quoting its leader, Dr Bassey Akpan, the coalition hailed President Buhari for appointing someone who truly feels the pulse of the region as managing director of the NDDC. Dr Akpan, who also heads the Akwa Ibom Future Project, described the president’s gesture as revolutionary and ground-breaking because it was the first time a genuine leader would be steering the commission. President Buhari’s master stroke entails entrusting development of the region in the hands of someone considered trust-worthy by stakeholders, especially youths who power militancy. In other words, the same stone that achieves sustainable development in the region would also silence militancy which requires political, not military solution. If history has vindicated the just as the country’s first president, late Dr Nnamdi Azikiwe, said, spontaneous and overwhelming declarations of support for Ekere’s suitability for the tough job of transforming a region he knows like the back of his palm also vindicate Buhari. And the obligation is for the Senate to confirm the man of destiny without hesitation. •Umosen (dominikumosen1@gmail.com) wrote in from Lagos.

How to quell Biafran agitation Jones Onwuasoanya

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resident Muhammadu Buhari has sent out stern warnings to all groups and individuals agitating for the secession of their various ethnic groups to perish the thought. The President was particularly worried about those agitating for the secession of the South eastern part of the country and warned that the continued unity of the country under his watch is sacrosanct. The President stated this while playing host to members of the National Youth Service Corps (NYSC) from the South east serving in Katsina State who paid him a visit in his Daura home during the Sallah holiday. In his words “Tell your colleagues who want Biafra to forget about it, Nigeria is big enough for all of us and potentially big in resources for everybody.” This is not the first time the President is voicing his unreserved nontolerance for any talk or action that points to the secession of any of the ethnic groups that make up Nigeria. Already, a leader of one of the newest groups agitating for the sovereign State of Biafra, Mr. Nnamdi Kanu has been in prison for some months now, while the Nigerian Police, DSS and other security personnel seem to be working under some strict orders to ensure that any form of exhibition, public or private that has to

do with Biafran agitation is crushed. Having being an officer of the Nigerian Army during the ill-fated Nigerian civil war, a former military Governor and a former military head of State before his second coming as a civilian Head of State, President, Buhari has more facts about the Biafran agitation than most people, even among the frontline agitators. One of the things the President knows about the Biafran struggle is that it is actually something that can be settled and a lot of those campaigning for it assuaged with very little conciliations here and there. The President should also know that force is the last thing that will work in the bid to quell this struggle. For a people who have survived a war, a genocide, one of the most unthinkable economic victimizations and an almost recurring religious persecution, force will do little to dissuade them from pursuing what may be rightly tagged a forced desire to secede. Unless the President makes concerted effort to address all or some of the most pressing reasons for which majority of the Igbo feel that they are not or no longer welcomed in the Nigerian union, there will continue to be these “colleagues” of the NYSC members who will keep fighting for the breakaway of the Igbo people from Nigeria. Like I have argued in an earlier output; most of these agitators, if not all of them are not really agitating for the breakaway of the Igbo people from Nigeria, but they are agitating for a more

equitable deal from successive Nigerian governments. The government of Nigeria must treat the Igbo fairly in order to get the best from them and also enjoy peace within its shores. No country of the world has ever experienced enviable progress while in crisis. The Biafran agitation, more than any other agitation in the country at present deserves the most immediate attention as its resolution holds the key to Nigeria’s freedom. The high level compliance recorded during the sit-at-home protest declared by members of the Indigenous Peoples of Biafra, otherwise known as IPOB should send a warning signal to the authorities, especially to President Muhammadu Buhari that the Biafran agitation cannot be quelled by yelling out orders from Daura or even Aso Rock, neither can all the military personnel in Africa stop the people of Igboland from talking about Biafra, even though a good number of them, including yours sincerely are not really interested in abandoning our Nigerian identity. However, my own Biafraness is a demand for justice and equity for my Igbo people, especially and all the ethnic nationalities that make up Nigeria in general. Solving the Biafran problem is one of the easiest things to do and it is one solution that will usher in more solutions to the varied problems confronting our dear nation. The demand of the Biafran agitation is very simple, even though it sounds too radical and some people are being incarcerated because

the government and some of its agencies feel that it also sounds felonious, but just one word summarizes the demand of the Biafrans from 1967 when they had to defend themselves against Federal Government’s invasion of their land till now when Nnamdi Kanu had to deploy a guerrilla radio station to broadcast his message of freedom, the demand has being one and simple; EQUITY. It is because of the genuineness of this demand that as acerbic as Nnamdi Kanu’s messages sound, they have been able to awaken millions of Igbo people and Nigerians to the need to demand justice from the government. The South east region is the only geopolitical zone in the entire country that has just five States. This imbalance has put us in a politically disadvantaged position, as we have less number of governors, less number of legislators and less number of all political and even civil service appointments made in the country. This situation also makes the SouthEast zone one State poorer when it comes to revenue allocation. The President would have taken a big step forward in his bid to quell the Biafran secession struggle if he could use the advantage of his Party’s majority in the House to fastrack the amendment of our Constitution to ensure that an extra State is created in the Southeast in order to bring it at par with other zones of the Federation. •Onwuasoanya wrote in from Owerri.


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Reaping from Zuckerberg’s visit

ome weeks ago, Facebook founder, Mark Zuckerberg, came calling. He was in Lagos to meet with some techpreneurs and pay a visit to venture startup, Andela. He also came to feel the pulse of Nigerians and decided to take a walk on the streets of Yaba in Lagos, where the $24 million venture in which he and his wife, Chan, have substantial interest is located. He met with some players in the Nigerian ICT space where they exchanged ideas on how to expand the nation’s digital sector. Zuckerber took out time for meetings with President Muhammadu Buhari and Vice-President Yemi Osinbajo as well as some senior government officials in Abuja. He also attended the Aso Villa Demo Day. A significant takeaway from the visit was the release of photos of Zuckerberg walking on a Yaba street and jogging on the Ikoyi-Lekki link bridge. No less interesting were series with Buhari. These resonated with Nigerians and generated considerable buzz on the internet. It was quite significant that the world’s seventh richest individual could brush aside all the trappings of wealth usually associated with this clime and take a walk on a street clogged with stagnant puddles of water.

For him to have found time to jog on a public bridge with-

out overzealous bodyguard was am experience in humility, as many commentators on social media observed. That he could also take out time to give people talks to Nigerian developers and affirm his commitment to supporting the growth of its ICT sector is encouraging. It is instructive to note that Zuckerberg and his wife through the Chan Zuckerberg Initiative inspired the bid round that raised the venture capital.
Quartz Africa, an authoritative journal on affairs on the continent, said in a recent edition that it was CZI’s first major investment and first time leading

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Zuckerberg in comments after his meeting with Buhari underscored the new thinking of the international community about Nigeria. His words: “I was highly impressed by the talent of the youths in the Co-creation Hub in Yaba. I was blown away by their talent and the level of energy that I saw.”
Such encouraging words coming from someone who has enjoyed the benefits that an advanced society can offer is something for Nigerian leaders to consider in the search for solutions to the biting

recession. The Buhari administration has a big challenge to develop policies that would stimulate the nation’s digital economy. It therefore has to take another look at restrictive policies and tariffs that inhibit the ICT sector in Nigeria if it truly wants to real immense benefits from It explains that Andela is poised the unfolding revolution. There to link African developers with the new global economy, given the short- must be a deliberate effort to redress those obstacles that place age of developers in Silicon Valley Nigeria on negative rankings in and high youth employment rate in the World Bank’s Ease of Doing African countries like Nigeria. 
The Business for 2016. Government new global economy provides a wide also needs to deal with Nigeria’s array of opportunities for Nigerians poor standing in ICT issues in to showcase their abundant energy, sub-Saharan Africa. Efforts must also be made to encourage enterprise and vision. It presents

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opportunities for Nigerians to play as equal partners with nationals of other countries on the global stage.

Nigeria cannot afford to continue to lag behind

a financial round since it was set up in December 2015. Andela was founded by Iyinoluwa Aboyeji (a Nigerian) and Jeremy Johnson and is backed by solid venture capital seed backers, Quartz Africa says, and acts like an outsourcing firm for developers.

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the growth of Nigerian ICT startups to absorb the growing number of youths getting into the sector. Government must view ICT as a key aspect of its economic policy direction and diversification programme. Nigeria cannot afford to continue to lag behind in the keen global competition to maximise opportunities in the digital economy. Buhari’s comments while receiving Zuckerberg at the State House on September 2, 2016 demonstrated his appreciation of the Facebook founder’s visit and its potential for Nigeria.
 Aboyeji, who co-founded Andela, is currently making waves in other areas of the ICT sector. Nigerian youths must also rise to the occasion and seek out ways of competing favourably with their peers in other climes. The fixation with paid employment should be discarded for self-drive innovations. There are many good examples like Aboyeji that Nigerian youths can follow. There is also Chinedu Echeruo, who sold his HopStop.com firm for over $1bn to Apple. Many more of such trailblazers exist in Nigeria. You can find them among the 18 million Nigerians on Facebook. It will take serious effort to search them out and nurture them to global recognition. That’s a challenge that must be accomplished from Zuckerberg’s 2016 visit to Nigeria.


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MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH


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monDAY, OCTOBER 3, 2016 NEW TELEGRAPH

News

Law

Drama as judges shun Kanu’s case

Analysis VIPs’ trial rejig new legal year

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Mahmoud: Why SAN can’t make Supreme Court Bench

Mohammed

Justice Mahmoud Mohammed is the Chief Justice of Nigeria (CJN). His tenure will expire in November, two years after he was sworn in as the nation’s Chief Justice. The CJN who will clock the mandatory statutory age of 70 next month, bares his mind on administration of justice, corruption on the Bench among many other issues. FOLUSO OGUNMODEDE reports

Nevertheless, I am proud to say that by the will of the Almighty, I am leaving the Supreme Court in a better shape than I met it. Indeed, in the past years, this court has witnessed numerous improvements both in terms of physical infrastructure and statutory functioning that will no doubt put us on the cusp of greater accomplishments in the future.

Is there any significant difference between last year and this year especially in terms of challenges and how were you able to surmount them? Last legal year was certainly an eventful one. We have rolled against the proverbial tides and withstood the blistering winds and gale forces. Indeed, we must appreciate and commend the efforts made by our justices and all This year’s ceremony which ushered judicial officers and staff of the in another beginning in the judicial various strata of our judiciary calendar year will be the last in your towards enhancing the adminiscapacity as the CJN. Of what importration of justice despite the varitance is the new legal year to you? This year’s ceremony is all the ous attacks and challenges to our more poignant as it marks the independence, none more so than commencement of my final legal those directed at this court. At the beginning of every legal year in the service of my nation. year, it is expected that we count our good deeds and the accomplishments of the Supreme Court will be reduced to mere numbers. That is, the number of appeals deFOLUSO OGUNMODEDE deputy group news editor/ JUDICIARY termined as against the number of cases filed as a way to establish coordinator foluso.ogunmodede@newtelegraphonline.com the success of the court. However, I believe the true test of our suc© Daily Telegraph Publishing Company cess is whether this apex court has Limited

I am proud to say that by the will of the Almighty, I am leaving the Supreme Court in a better shape than I met it

dispensed justice in a way that our people can say that justice has indeed been done and seen to be done. Without sounding like a judge in my own case, I strongly believe that the Supreme Court has achieved this objective. The impact of the decisions of the Supreme Court has not only been just but they have also served the cause of justice. The Chinese philosopher, Confucius, counsels us that one must “study the past if you would define the future”. In true and time honoured fashion, the legal year speech is a statement of intent as to the steps, policies and objectives that the Supreme Court proposes to embark upon. It must also reflect upon the court’s achievements and identify past challenges as well as steps taken to address same. I daresay that in the 2015-2016 legal year, our court confirmed its status as arguably the most overworked Supreme Court anywhere in the world. This was characterized by the near herculean hearing of 1489 matters, consisting of 908 motions and 581 substantive appeals, delivering 268 judgments in that period. Indeed, during this period, we received about ten new appeals per week, most of which were interlocutory in nature. Consequently, we have taken the historic step towards the expansion of the single track of justice delivery in the court by allowing for

appeals to be mediated where the parties and issues permit. The last legal year witnessed a transition in the ranks of the Justices of the Supreme Court with the appointment of one new Justice to join the ranks of the court in the person of Hon. Justice Amiru Sanusi. While we are waiting for the confirmation of the appointment of two Justices of the court by the Senate, the National Judicial Council is expected to consider and recommend to the President of the Federal Republic of Nigeria, the appointment of two more additional Justices to the Supreme Court at its sitting on September 28, 2016. We also held valedictory sittings on the retirement of two of our Brothers, in the persons of Hon. Justice John Afolabi Fabiyi, CFR and Hon. Justice Saifullahi Muntaka-Coomasie, CFR into a well-deserved life of leisure and rest. I thank these two distinguished jurists and gentlemen, for their invaluable contributions to the jurisprudence of the court and I want to assure them that they will be sorely missed by us all. On a sad note, the Supreme Court also witnessed the passing away of Hon. Justice Niki Tobi, CON, a retired Justice of this court. His death was a stark reminder that the Almighty has given each of us limited time to shine and his lordship did indeed CONTINUED ON PAGE 20


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shine brightly as a judicial officer of this nation. Though his light has physically gone out like a candle in the wind, yet we remember the many encomiums that describe such a colossus of the law. To us in the nation’s judiciary and many around Nigeria and the world, his lordship was a revered colleague, brother justice, peacemaker, a consummate gentleman, an erudite scholar, lecturer, a former dean of law in the University of Maiduguri, mentor and indeed one of the most notable jurists of his generation. His lordship’s indelible contributions are remembered fondly and I daresay that he will be missed by us all. Despite the vacuum left by the departure of these eminent jurists, the Supreme Court was largely successful in effectively adjudicating and administering justice, in the face of the significant challenges both from within and outside the judiciary that threatened the institutional integrity of the entire judicial system. How has your tenure being able to tackle the snail speed of justice system? In the past year, the judiciary has once again had to address the perennial issue of delays in the administration of justice. While we all rush to rehearse the age-old rhetoric that justice delayed is justice denied, the actions of our key stakeholders, particularly members of the Bar have often proven to be far from words. Although new laws and practice directions have been enacted with the aim of speeding up the administration of justice, incessant delays remain and are aggravated by challenges from those seemingly bent on continuing to live in the doldrums of the past. Sadly, certain members of the Bar are conspicuous in utilizing unethical, frivolous applications and appeals, multiplicity of actions in courts of co-ordinate jurisdiction and other acts of calumny to frustrate the speedy dispensation of justice. These abuses of court process not only occasion delays but also diminish the standing of the justice system and the legal profession in the eyes of Nigerians. Persistent delays result in a ripple effect that deliberately frustrates due process. Indeed, the opportunity cost of listing a matter that is a manifest waste of the court’s time could delay the hearing of other matters, which may involve the liberty of a citizen or protection of another from harm. Suffice here to say that the Supreme Court takes a dim view of such delays and we will constantly introduce measures to reduce delay in the administration of justice as the past year’s statistics will doubtless testify. Likewise, on a plethora of high profile cases, our determination that justice be done, has been borne out regardless of the parties or consequence of such adjudication. In the wake of the myriad of political appeals filed in the court after the 2015 elections, my colleagues and I went the extra mile by sit-

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I am leaving Supreme ting till unusually late hours, sometimes up to 11pm, in order to conclude the appeals, especially as these had a potentially far reaching effect on the lives of our citizens. Indeed, we were obligated to sit even during the court’s vacation in order to dispense matters as required by the Constitution and laws of Nigeria. Furthermore, the second panel I initiated in the Supreme Court continued to sit on Wednesdays in addition to the normal panel sitting in chambers on the same day. This initiative continues to record resounding successes and had resulted in the speedy disposition of appeals, thus helping to build public confidence in the court. I must therefore place on record that the Justices of the Supreme Court of Nigeria are the hardest working Supreme Court Justices in the world and must receive due ovation for the sacrifices made and deprivations endured in the performance of our onerous duties, in the interest of justice and our dear nation. Nevertheless, we will not rest Mohammed on our laurels. I therefore urge all judicial officers to ensure that they expedite the determination of all cases especially criminal cases, utilizing the Administration of Criminal Justice Act and the 2013 Practice Directions on Serious Crimes that were specially enacted to address delays in cases pertaining to serious crimes. Are there any occasions whereby due process and precedents were ignored by judicial officers especially as being reflected in conflicting judgements? It is with great trepidation and dismay that I note the growing trend of the disregard for laid down precedent in decisions from various levels of courts, even the appellate court. Hence, it behoves upon me to remind our judicial officers of the fundamental legal principle of Stare Decisis, as aptly presented by Professor Nwabueze, who stated that “only a court of law has the power and the right to say authoritatively and conclusively what the law is... and once a superior court of record has spoken, its pronouncement, however perverse or blatantly wrong it may appear to be, establishes the law unless and until it is reversed on appeal by a higher court.” As Hon. Justice Oputa, JSC, succinctly put it in the specific context of the Supreme Court “we are final not because we are infallible, rather we are infallible because we are final.” Therefore, as posited by Justice Frankfurter in the United States Case of Cooper v Aaron, “because a court of law is composed of fallible men, it may err. But revision of its errors must be done by orderly process.” It is also necessary to restate that according to the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the decisions of the Supreme Court remain final until the Supreme

Justices of the Supreme Court of Nigeria are the hardest working Supreme Court Justices in the world and must receive due ovation

Court alone decides otherwise. As such, and in the light of the foregoing, I am of the firm conviction that every court in Nigeria is bound by the decisions of the Supreme Court and shall not graft a different outcome from those expressly laid down by the Supreme Court. Such departures from precedent therefore risk creating the type of confusion, which is inimical to the trust reposed in us by the people and we risk our reputations, our integrity and even our existence by such indiscipline. Several conflicting decisions were recklessly dished out by the Court of Appeal last year in appeals arising from various decisions of the Election Petitions Tribunals, given on election petitions filed by the parties who lost in the general elections conducted in April 2015. Such decisions were made as the result of flagrant refusal of the panels of the court of appeal involved, to be bound not only by its own decisions but also by the decisions of this court. I therefore call on our judicial officers to have due respect for the law and strive to adjudicate in a manner that is premised upon the principles of justice. Little wonder therefore that people are now increasingly looking at Alternative Dispute Resolution in order to engender more certainty to the resolution of their disputes. No doubt, there are complaints against some judges before the National Judicial Council, how has the body been handling such complaints? I mean, what happens when such complaints involve the ‘untouchables’? I believe that just like the purity of gold is determined by its hallmark, a sure measure of the strength of our judiciary is its constitutionally guaranteed independence. A pivotal part of this independence is the ability of the judiciary to act

on complaints or allegations of misconduct against judicial officers. The Constitution clearly places the power to exercise disciplinary control over judicial officers on the National Judicial Council. Furthermore, in line with the provisions of the Constitution, the Judicial Discipline Regulations 2014 comprehensively sets out the procedure for making a complaint, without undue interference from other arms of government. It is therefore something of great concern and wonder that our lawyers, litigants and even members of the public are now routing complaints against judicial officers to the Office of the President of the Federal Republic of Nigeria. I am most dismayed that legal practitioners who ought to better appreciate the need for the independence of their primary constituency would engage in this misguided practice. This dangerous new trend has borne itself out in various complaints ranging from disparaging remarks against judges of our superior courts to unprecedented, unwarranted and unfortunate personal attacks on judicial officers. I must admit that these cases were particularly distasteful and have been marked for action against the erring counsel by the Legal Practitioners Disciplinary Committee. This trend is a distressing indicator that having overcome the evils of interference with the independence of our courts during the military era, some legal practitioners now engage in dragging the judiciary back into the same bondage in this current democracy. I deduced that the motivation for this trend lies undoubtedly in their narrow, deplorable self-interest and incompetence. However, we must understand that the only way to improve the performance of our courts is through the judiciary itself. Unlike the days when rule was by decree, it is apt that we educate ourselves on the doctrine of separation of powers and hold strongly to it. As I have hitherto said in various fora, where a complaint against any judicial officer is properly submitted to the National Judicial Council, the council will act upon same swiftly and decisively. Many believe that the Bench is corrupt because judges’ appointment was without recourse to due process. What changes have you brought into the appointment of judicial officers? In the area of judicial appointments, there has been in the past, measured criticism of the process of appointment of judges and I am glad to say that the previous twelve months oversaw great changes in the integrity of the system of appointment to the Bench. Since my assumption of office, I have worked to strengthen the process through the use of the 2014 Revised National Judicial Council Guidelines and Procedural


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Court better than I met it – CJN Rules for the appointment of judicial officers of all superior courts of record in Nigeria. The National Judicial Council’s new guidelines provide a more comprehensive, robust and transparent method of appointment, leading to the emergence of only the best legal minds with high moral standards and the temperament to serve as our judges. With the judicious use of this innovation, I daresay that the last appointments for new judges of various courts were overwhelming successes. Given that this is my last legal year as the CJN, I must use this medium to address speculations that have arisen as regards the appointment of persons to the office of the Chief Justice of Nigeria. Permit me to restate that Section 231 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), is clear as to the procedure that must be followed in appointing a Justice of the Supreme Court or indeed a substantive Chief Justice of Nigeria. The National Judicial Council recommends, the President of the Federal Republic of Nigeria approves and the Senate confirms such appointments. While I would admit that there is no constitutional restriction as to where those to be appointed are selected from, the long held practice, which I daresay has been apolitical, transparent and fair, has been to appoint the most senior Justice of the Supreme Court to the Office of the Chief Justice of Nigeria. With the exception of two Chief Justices who were appointed from outside the Supreme Court during the military regimes and in exceptional circumstances, this system had proven to be seamless, predictable, respectable and dignified. The idea that we can appoint a legal practitioner, without the proven experience or the temperance of character developed through years of active participation in adjudication, may indeed be fraught with risk, none greater than the risk of creating another sinecure for party loyalists or reducing the Office of the Chief Justice of Nigeria to one which can be “lobbied” for. This will undoubtedly and irreversibly hurt our justice system and must be strenuously resisted. As experienced judicial officers, having served on the Bench for an average of 25 years or more prior to elevation to the Supreme Court, we know each other’s weaknesses and strengths, but most importantly, we know how important the judiciary is to us. We have dedicated our lives to the judiciary and accepted our calling as judges. We know that the judiciary is our home. Our independence is intrinsic to us. A firm sense of justice had also been developed, forged as it were, in the furnace of practical jurisprudence, rather than one recently adopted. We are constant, not subject to the direction of the political wind like a blade of grass bends to the

harmattan breeze. As with all institutions of the judiciary, the prospect of lobbying is one that we eschew and would not wish to introduce it to the Bench. I must state that this penchant for stability, independence and fairness is one which is sorely needed and had been evident in the recent conferment of the noble rank of Senior Advocate of Nigeria.

Some 21 lawyers were recently admitted into the Inner Bar as Senior Advocates of Nigeria. What does this portend for jurisprudence? Permit me to extend my sincere congratulations to the newly appointed Senior Advocates of Nigeria (SAN), on the conferment of the distinguished rank upon them. This is a rare privilege, which imposes both moral obligations and professional duties on you. They have become leaders in the noblest profession and must therefore strive to uphold the trust that our society reposes in you. They were selected based on strict criteria such as an unquestionably sound command of the law and ethics of their profession and now occupy an enviable position that recognizes these attributes. I therefore advise them to imbibe the highest tenets of integrity and humility that is befitting their status. They must ensure that their reputation is carefully defended and protected, remembering that their privileges are ones of humility and service. To those who aspire for this noble rank, I urge you to emulate the virtues of honesty, diligence and hard work, shunning the temptation to attain the rank “by all means” as it were. Institutionally, the last legal year oversaw a consolidation of the on-going reforms to make the process of selection more reflective of the work that the Legal Practitioners’ Privileges Committee had done to ensure transparency and fairness, thereby eliminating the risk of bias and the possibility of preferential treatment of candidates. Desirous of improving the process, the Legal Practitioners’ Privileges Committee, acting under its powers as set out in Section 5 of the Legal Practitioners Act, (Cap L11, Laws of the Federation of Nigeria, 2004) enacted guidelines for the conferment of the award of the rank of Senior Advocate of Nigeria 2016, which is now gazetted. The new guidelines, which sought to ensure that the award becomes an independent indication of excellence in the legal profession, remove parochial considerations of ethnicity and origin, and ensuring a selffinancing process that ensures that rigorous screening is embarked upon. These guidelines have in my opinion entrenched a more meritorious system for the selection of those men and women who have been deemed worthy of conferment. A perusal of Paragraph 19 of the said guidelines, for in-

Mohammed

Our noble profession should neither be populated by fraudsters, cheats and liars nor by persons who believe in the maxim that “the end justifies the means

stance, will reveal the minimum standard of competence, expected of the candidates and utilized in the screening process, thus infusing the quality of transparency into the process. Indeed, the enactment and meticulous application of the new Guidelines have ensured that the current set were the most scrutinized in the history of the conferment of the noble rank of Senior Advocate of Nigeria. It is also worth noting that this set of applicants were also among the most qualified in a very long time, with all applicants scoring above the cut-off marks, which I assure you was not an easy feat. Furthermore, for the first time, since the inclusion of the compulsory criterion of Law Office Inspection in Paragraph 15(1) (a)-(e) of the Legal Practitioners’ Privileges Committee Guidelines, 2013, we have seen candidates whose facilities reflect the standards expected of conferees of the rank. I was particularly impressed by the report of the said inspections, which indicated that the facilities of all shortlisted persons were in their words, “outstanding”. No doubt, the process was exhaustive and gruelling for all concerned but it ensured that only the best candidates emerged. In recognition of their efforts in improving this year’s exercise, I wish to express my gratitude to the members of the Committee for their industry, time and effort in safeguarding the selection process and underpinning same with fairness, equity and good conscience. Although, we have worked to sanitize the system, I note that in recent times, some senior lawyers have resorted to conduct which is reminiscent of a “crime drama”, in order to gather the number of cases to meet the requirements needed to be considered for conferment. Certainly, it is not uncommon to hear of lawyers “gazumping” briefs held by their colleagues

at appellate courts including this court. I must say that nothing is worth the denigration of the esteem attached to the rank of SAN and its status as the reward of consistent demonstration of excellence. Our noble profession should neither be populated by fraudsters, cheats and liars nor by persons who believe in the maxim that “the end justifies the means”. Ours is a profession where integrity is worth more than gold and a good name, more than its weight in platinum. It is saddening to hear reports of insults directed at our judges from some Senior Advocates and senior members of the Bar, whose words are often an outright contempt. The tradition of maligning the judiciary in order to demonstrate dubious professional credentials as a “radical” must stop. I urge the leadership of the Bar to be more proactive in disciplining such errant counsel in defence of the integrity of the judiciary and the legal profession. I daresay that no sane person harvests his crops by burning his field. A word is indeed enough for the wise and I urge our judicial officers to ensure that such behaviour is decisively dealt with. What is the judiciary doing in the area of IT? Is the judiciary IT compliant? In our quest to provide a speedy, affordable and transparent system of justice, the Nigerian judiciary has adopted the use of Information and Communications Technology in order to bring our court processes in line with the expectation of our millennial generation of citizens who crave a swift, 21st century system of justice. In a year of inevitable change, the Supreme Court became a pilot court for the judiciary’s drive for the historic launch of the Nigerian Case Management System (NCMS) software, which CONTINUED ON PAGE 23


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Drama as judges shun Kanu’s case Will the withdrawal of two judges from a case of treasonable felony initiated against the detained leader of the Indigenous People of Biafra (IPOB), Mr. Nnamdi Kanu terminate his trial? Asks TUNDE OYESINA

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or the umpteenth time, the trial of the leader of the Indigenous People of Biafra (IPOB), Mr. Nnamdi Kanu has suffered setbacks. Reason: Two judges in ten months had washed of their hands from his trial. Kanu is standing trial before a Federal High Court sitting in Abuja over an alleged treason. The IPOB detained leader, alongside Benjamin Madubugwu and David Nwawuisi are facing a six-count charge of treasonable felony, brought against them by the Federal Government. He was arrested by the Department of the State Services in October last year and was arraigned barely one month after at a Magistrate’s Court in Abuja. However, his trial had remained at a snail speed barely one year after his arrest and arraignment just as the withdrawal of judges handling the matter within a spate of 10 months had no doubt dealt a debilitating blow to the justice of the matter. First to hands of the matter is Justice Ahmed Mohammed following Kanu’s alleged refusal to take his plea on a six-count charge of treason, importation of illegal good and possession of fire arms filed against him by the Department of State Services (DSS). Nine months after, another judge, Justice John Tsoho of the Abuja Federal High Court last week stepped down from the case following a petition by Kanu to the National Judicial Council, demanding a probe of the judge. In the petition through his lawyer, Ifeanyi Ejiofor, the IPOB leader said the judge gave parallel judgements on the same request, describing it as “judicial rascality”. At the resumed trial last Monday, Kanu’s lead counsel, Chuks Muoma (SAN) shocked the court as he brought an application where he claimed that the court was biased in the manner it had so far handled. He told the court that his client had written a petition to the National Judicial Council (NJC), saying it will only be proper for the court to suspend hearing of the case pending the outcome of NJC’s investigation. He also informed the court that the NJC had responded to the petition filed by Kanu against the judge, saying it had begun investigation on the matter. Muoma said: “We are only asking the court to hands off the case; my client has lost confidence in this court. Following the development, all we are asking this court to do is to hands off the case pending the outcome of the NJC investigation. It would not be proper for the court to continue with this matter when investigation is ongoing. So, in the interest of justice, we are asking the court to hands

Ahamba

off the case. I would urge the court to transfer the matter. I would suggest that it should be sent back to the CJ.” He further said that the court was acting in line with the suggestion of President Muhammadu Buhari that Kanu was not going to be released under any circumstance. He said logically the procedure would have been for the court to wait for the response of the NJC so as not to preempt NJC’s decision. But Justice Tsoho who apparently convinced Kanu and his lawyers that he had no personal interest other than justice in the matter, endorsed their request. Justice Tsoho in a brief ruling held that he had no personal interest in the trial of Kanu, hence, he returned the case file to the Chief Judge of the Federal High Court, Justice Ibrahim Auta. Besides, the judge condemned the attitude of the defence counsel in the matter, saying they were acting unprofessionally by their utterances, insisting that he was unruffled if the case was handled by another judge as his interest was solely on justice. Justice Tsoho held that since the defence counsel lacked confidence in the way the court had handled the case, “it is only reasonable for the court to disqualify itself from further hearing the matter. “Accordingly, this case is hereby forwarded to the Chief Judge for further re-assignment”, the judge ruled. He however stated logically that the procedure would have been for the court to wait for the response of the NJC so as not to pre-empt NJC’s decision. The judge, after stepping aside, vowed not to preside over the case even if it was returned to him. “Even if I am cleared of any bias by the NJC, I will not continue with this case,” he said. Kanu had petitioned the National Judicial Council (NJC) against Justice Tsoho of “committing judicial rascality” over two rulings given against him. In his petition to the council, the IPOB leader called for an investigation into the rulings of the court over permission granted the Department of State Services (DSS) to protect its witness in his trial. He described Justice Tsoho’s conduct as a fundamental breach of his judicial oath. The petition reads in part: “That on the 9th day of February, 2016,

Yusuf Ali

the defence was ambushed with an application filed on that day by the prosecution, seeking the court’s endorsement for secret trial of the defendants. “The defence led by Chief Chuks Muoma (SAN) promptly notified the court of our intention to oppose the application, pursuant to which it was thereafter adjourned to the 19th day of February, 2016, for the hearing of the application.” Kanu had in various past interviews maintained that such action by the judge can only be referred to as “judicial rascality” which he noted demonstrated that the judge was undoubtedly acting a script or was being influenced by powers higher than himself, stressing that a court cannot alter its own judgement without the benefit of an appeal to a superior court under the Nigerian Judicial system. “The judge’s action as evidenced by documents and the court’s contradictory rulings in our disposal go contrary to every code of judicial conduct and ethics known to law”, he stated. In the petition, Kanu also called for a correction of the “rascality” made by the judge in accordance with the Oath Act noting that several attempts by the defence team to obtain court’s rulings and proceedings remained unsuccessful until an intervention by the Chief Judge of the Federal High Court in the matter. “The rulings of the court were eventually given to us on Monday, the 25th day of April, 2016, barely two months and 15 days after the ruling of 9th February, 2016, was delivered, two months and six days after the ruling of 19th day of February, 2016 was delivered and one month and 18 days after the ruling of 7th March, 2016 was delivered”, he stated. He also said in the petition that Section 36(7) of the 1999 Constitution as amended allows a court or tribunal only seven days to keep its record in a criminal trial. “That on the face of the application to stay further proceedings in the matter, pending the outcome of the appeal challenging the court’s variation of its order, the court would have ordinarily been spurred to be expeditious in its attention to our request. Rather, his lordship remained firm in his resolve to frustrate the defence,” the petition further reads. The petition noted that even the lead counsel in the matter, Chuks

Kanu

The judge’s action as evidenced by documents and the court’s contradictory rulings in our disposal go contrary to every code of judicial conduct and ethics known to law

Muoma, was shut out in an open court by Justice Tsoho from adumbrating his written brief in support of its application for stay of proceedings even when court rules allows for 20 minutes of oral argument. The petition also highlighted a series of events that occurred during the trial of Kanu stating that the judge who had earlier denied an application made by DSS counsel in what appeared to be a breach of judicial oath, sat and heard an appeal against it and reversed its orders against Kanu. However, Justice Tsoho was the second judge to hands off the case. Justice Ahmed .R Mohammed, also of the Federal High Court, withdrew in December 2015 after Kanu said he had no confidence in him. The IPOB leader, who has been in detention since October, is facing treason charges preferred against him by the Federal Government. In December 2015, Kanu passed a vote of no confidence on Justice Ahmed Mohammed of the same court, prompting the judge’s withdrawal from the matter. Kanu had raised this objection before the court presided over by Justice Mohammed commenced proceedings. However, the judge granted his plea by saying that it will be good to appreciate and take into consideration the objection raised by the defendant. According to Kanu, thank you very much my lordship, but my objection is that I will not receive a fair trial before this court. The information I got is that I will not receive a fair trial before this court. “I will not sacrifice the due process of law because of speedy court process over the principle of natural process on the altar of speedy release. In other words, I would rather remain in detention than subject myself to a trial that I know amounts to perversion of justice. “Your lordship, previous court rulings have been given by courts of competent jurisdiction in this country, Nigeria, which were not carried out by the DSS.” Delivering ruling in the application, Justice Mohammed held that Kanu has the right to reject the trial, “after all justice is rooted on confidence. If any of the parties has no confidence in the court, he has the right to say so. Assuming it was the prosecution, if they had no confidence in the court of jurisdiction; would they not have done so?


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TUNDE OYESINA writes on cases that will rejig new legal year

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VIPs’ trial rejig new legal year

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ith the commencement of the 2016/17 new legal year, the judiciary had commenced adjudication over high profile cases that were adjourned at the last legal year. The judiciary had in July went on its annual vacation, prompting all on-going cases to be halted. However, there are several cases before the various courts of the land. Most of the cases before the court at the moment bother on corruption, among others. There is no doubt that the final judgement of such cases will shape this present legal year. Such cases involve; Senate President, Dr. Bukola Saraki over alleged false assets declaration. Saraki is standing trial before the Code of Conduct Tribunal over alleged anticipatory and false assets declaration while he was the governor of Saraki Kwara state. The former governor had pleaded not guilty to the charge President, Dr. Bukola Saraki, his deputy, and trial had since commenced with Ike Ekweremadu, a former Clerk of the the prosecution calling its first witness, National Assembly, Salisu Maikasuwa and the acting Clerk, Bennedict Efeturi Michael Wetkas. The proceedings was at the cross ex- before an Abuja High Court. The defendants were slammed with amination stage, when the defendant filed an application seeking to disqualify a two count charge bothering on conthe chairman of the tribunal, Danladi spiracy and forgery of the House StandUmar, from further presiding over the ing Rules. They all pleaded not guilty to the charge when it was read to them matter over alleged bias statement. Danladi was quoted as saying, “no and were consequently admitted to bail. The trial could not start before the matter the delay tactics employed by the defence lawyer, it will not reduce court went on vacation while the comthe consequence the defendant will get mittee on the prosecution of high profile cases has since took over the prosecution. at the end of the trial”. The court was yet to rule on the appli- Nnamdi Kanu cation before it went on break. The court Kanu is the self-acclaimed leader of had however fixed October 4 for ruling. the Indigenous People of Biafra (IPOB). Forgery suit against Saraki, Ekweremadu, He and two others are standing trial be2 others fore the Federal High Court sitting in This is another case that had prompt- Abuja over alleged plan to break Nigeria ly resumed in this new legal year, though and form a Republic of Biafra. the case was initiated towards the end The court had refused to grant Kanu of the last legal year. It was filed by the bail and hence the defendant had moved Federal Government against the Senate to the Court of Appeal to challenge the

Ekweremadu

ruling but the appellate court turned his request down. Kanu had filed an application seeking to disqualify the trial judge, Justice James Tsoho from further sitting over his case. The judge had however withdrew from further hearing of the matter and consequently returned the case file to the Chief Judge of the Federal High Court for re-assignment. The case has not yet been re-assigned and no new date has been fixed. Former NSA, Sambo Dasuki Prominent among the ongoing corruption cases is the one involving a former National Security Adviser , Col. Sambo Dasuki (rtd). Dasuki is standing trial over alleged illegal possession of firearms and diversion of funds meant for the procurement of firearms before three different courts. The first charge was filed before the Federal High Court sitting in Abuja where Dasuki was charged with diverting $2.1 billion. Secondly, the EFCC preferred an-

other 19 charges against Dasuki and four others before an Abuja High Court over alleged diversion of another N32 billion meant for arms procurement. Dasuki’s co-accused are; a former Director of Finance and Administration in the office of NSA, Shuaibu Salisu, a former General Manager, Nigerian National Petroleum Corporation Aminu Baba-Kusa. Two of Baba-Kusa’s companies – Acacia Holdings Limited and Reliance Referral Hospital Limited – are also part of the defendants. The third charge was filed before another Abuja High Court, wherein the anti- graft agency slammed another 22-count charge bothering on alleged diversion of N13bn meant for arms procurement. The former NSA had since been arraigned before the three courts. Although, Dasuki had pleaded not guilty in all the charges, the various courts had at one time or the other admitted him to bail. However, having perfected his bail, the Department of State Security (DSS) re-arrested Dasuki and kept him in its custody since December last year. Every effort to secure his release by his counsel had proved abortive. Dasuki had however approached the Court of Appeal to challenge his detention, but his application was turned down. He had since vowed to head for the Supreme Court. Dasuki had also filed and argued an application at the ECOWAS court challenging his detention by the Federal Government. The court had then adjourn indefinitely for judgement. At the Federal High Court, government had at the last adjourned date argued on the need for secret trial, though Dasuki had opposed the application, the court is yet to deliver judgement in the matter. CONTINUED ON PAGE 24

Why SAN can’t make Supreme Court Bench, by CJN C O N T I N U E D F R O M PA G E 2 1

was developed in order to facilitate the transition to a paperless adjudication system, through the automation of the process of filing, service and notifications via hearing notices, among many other innovations. In addition to the development of the NCMS, the judiciary also developed a unique and exclusive legal email system, known as the Nigerian Legal Email System (NILES) that has been rolled out to facilitate easier and secure electronic communication between the Supreme Court and the members of the Bar. At present, 2,772 lawyers have activated their legal email, which represents a sharp 131% increase in just one month. I would like to use this opportunity to acknowledge the support received from the past President of the Nigerian Bar Association, Augustine Alegeh (SAN) in this regard. I am sure we will receive same active support from the incoming leadership of the Bar. Similarly, the court’s infrastructure has been upgraded and our courtrooms are being retrofitted with modern court technology hardware to enable state of the art paperless operations to be utilized in advance of its eventual rollout to all jurisdictions in Ni-

geria. Given the rave reviews that the Case Management software received whilst being adopted by the Chief Justices of five Caribbean Community countries earlier this year, we have an independent assurance of the quality, robustness and obvious benefits of this software of the future. How has this enhanced the court facilities? I am sure you will agree with me that speedy dispensation of justice is only possible when requisite facilities exist. You will also concur that given its federalized structure, several state judiciaries in Nigeria are sadly handicapped by an acute shortage of resources necessary to ensure smooth administration of justice. Nevertheless, the various heads of court and chief registrars have had to be resourceful in order to position our courts for improved Mohammed service delivery. This informs the efforts made by the Supreme Court to upgrade and improve upon its facilities in order to provide a clean, comfortable and conducive environment to court users, despite our limited resources. Sequel to my direction and premised on my passion for positive change, the Supreme Court has been embarking upon an extensive refurbishment exercise aimed at meeting the requirements of a modern Supreme

Court. Our courts’ audio visual equipment and IT solutions, when finally completed, will comprise of a Digital Conference System, a room audio system, video wall for projections, display monitors, Video Conferencing system, Cameras and an Audio Visual Control Management system. In addition, there has been an upgrade of the security architecture of the court in response to the current security challenges in our

country. The installed scanners are working perfectly as I am sure you observed on the way into the court. I am sure you must have observed the efforts being made to secure our court through the extensive use of specialized visitor tags and security cordons that ensure only authorized persons can visit various parts of the court at any given time. There has also been an aesthetic addition to our court with the automated door system bearing our logo, which doubtless improves the entrance of the court while ensuring the effective security of the court users. We are also determined to improve upon the physical ambience of the court through the growth of flowers, landscaping and increased soft furnishings that aim to provide an improved user experience for our court users. The judiciary, perhaps more than the other arms of government, has faced adverse economic conditions this past legal year. We would be naive not to note the effect that the significant loss of national revenue has had on our budget and the ability to meet the basic needs of the court. Notwithstanding the reductions made to the budgetary allocation of the judiciary, we have persisted in prioritizing the needs of our court staff and we shall continue to work assiduously to ensure that the basic working conditions and welfare of the staff are met.


24 Law|news

monDAY, OCTOBER 3, 2016 NEW TELEGRAPH

Ex-military men before the law

C O N T I N U E D F R O M PA G E 2 4

At the Abuja High Courts, the judges had ordered the DSS to make Dasuki available for his counsel so as to prepare for his trial. Dasuki had also filed a fresh suit before the Abuja High Court seeking his release from detention. All these suits are expected to come up in this legal year. Olisa Metuh Metuh is the former National Publicity Secretary of the Peoples Democratic Party (PDP). He is standing trial over alleged receipt of N400 million from the office of the NSA. The trial had progressed as the prosecution and defence has called all their witnesses. At the last adjourned date, Metuh had told the court that talks were ongoing with the EFCC on how to return the said money. The court could not decide on that before the vacation commenced and hence shifted to this legal year. AVM Alex Badeh Air Vice Marshal Alex Badeh who was a former Chief of Defence Staff is standing trial on a 10 count charge bordering on money laundering, criminal breach of trust and corruption to the tune of N3.97 billion belonging to the Nigerian Airforce before the Federal High Court sitting in Abuja. Badeh pleaded not guilty to the charge and was consequently admitted to bail, first under stringent conditions. The conditions were later reviewed due to his inability to meet it. Trial had since started as the prosecution, the Economic and Financial Crimes Commission has called about four witnesses. The witnesses had in turn explained to the trial judge, Justice Abang Okon how Badeh allegedly collected the said money and expended it on the purchase of property in highbrow area of Abuja. Badeh had while being the CDS allegedly among other things abused his office between January and December 2013. He was said to have used dollar equivalent of the sum of N1.4 billion from the accounts of the Nigerian Air Force to purchase a mansion situated at No. 6, Ogun River Street, Off Danube Street, Maitama, Abuja. The offence is in contravention of Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act. At the last adjourned date, a prosecution witness had insisted that he was pressurised by Badeh to claim the property he allegedly acquired with the proceeds of crime. The witness, Mustapha Yerima, who had earlier testified as PW4, further testified to the effect that, Air Commodore Salisu Abdullahi Yushau (retd) had invited him over to the Defence House, after his retirement to coordinate the handover of documents and discuss progress of construction of the plaza, then ongoing. According to him, “In my evidence-inchief, I testified that PW1 (Yushau) called a meeting after he had retired from the Nigerian Air Force. The meeting held at the Defence House and we discussed progress of work in the plaza. Barrister Timothy Muje and Barrister Umar were in attendance. I had met Barrister Umar once or twice before that meeting but there isn’t much familiarity between us. “It was after this that Barrister Muje called and asked that we both meet somewhere at Wuse II. This was the same day the EFCC invited me to their office. Barrister Muje handed some documents over to me but failed to give me

Dasuki

(Ryte Builders) the power of attorney which I asked him for”. Under cross-examination, Yerima insisted that he was instructed by Yushau to claim the said property, when operatives of the EFCC began to investigate the matter. “The idea that was conveyed to me by PW1 after their meeting was for me to go and claim the property as instructed”, Yerima insisted. The trial will resume this legal year. AVM Umar Diko Another Air Chief standing trial over corruption related charges is a former Chief of Air Staff, Air Vice Marshal Mohammed Diko Umar, who was accused of diverting about N4.8 billion belonging to the Nigerian Air Force (NAF) to purchase property for himself. Diko, who was arraigned before the Federal High Court sitting in Abuja, however pleaded not guilty when the seven-count charge bothering on diversion of funds slammed on him by the Economic and Financial Crimes Commission (EFCC) was read to him. In the charge, Diko was alleged to have, while being the Chief of Air Staff between September 2010 and 2012 converted the United State dollar equivalent of the aggregate sum of N4,864,630,000 removed from the account of NAF. The offence was said to be contrary to Section 15(2) of the Money Laundering (Prohibition) Act, 2011 and punishable under Section 15(3) of the same Act. Defence counsel, Hassan Liman (SAN), however, prayed the court to admit Diko to bail on self recognizance. However, prosecuting counsel, Sylvanu Tahir, prayed the court for a trial date and asked that the defendant be remanded in prison custody pending the commencement of his trial. Delivering ruling, the trial judge, Justice Binta Nyako admitted the defendant to bail on self-recognizance. The court further ordered the defendant to deposit his international passport with the registry of the court. Justice Nyako later adjourned till June 7, 8 and 9. At the last adjourned date, Umar had informed the court that he had started talking with the anti- corruption agency with the intention of returning the money. The matter has also been shifted to

Badeh

this legal year. AVM Saliu Atawodi In the list of ongoing corruption cases is a former Chairman, Presidential Implementation Committee on Maritime Safety (PICOMMS), Air Vice Marshal Saliu Atawodi (rtd.). Atawodi was arraigned by the EFCC on a three-count charge bordering on conspiracy, abuse of office and misappropriation of public funds. The defendant, however, pleaded not guilty when the charge was read to him. The defendants allegedly defrauded the government to the tune of over N600 million through suspicious contracts to procure military boats. He prayed the court to admit him to bail. The court later remanded Atawodi in Kuje prison pending when his bail application was heard and granted. The defendant had since perfected his bail conditions and has been released. The trial is to resume in this new legal year. AVM Rufus Ojuawo Also facing corruption charge is a former Air Officer in charge of Tactical Air command, Makurdi, Air Vice Marshal Rufus Ojuawo. Ojuawo was arraigned before an Abuja High Court on a two-count charge of allegedly receiving a gift of N40 million and a car valued at N29.2 million from a contractor with the Nigerian Air Force (NAF), Mr. Hima Aboubakar of Societe D’ Equipments Internationaux Nig Ltd. When the charge was read to him, he pleaded not guilty to all the counts. Upon his not guilty plea, prosecution counsel, Francis Jirbo, however, requested for an adjournment to enable him open his case. He also asked the court to remand the defendant in prison custody. However, counsel to the defendant, Mr. Robert Ajabo, in opposing the oral application, moved a motion for the release of his client on bail pending trial. He argued that the alleged offence upon which the defendant was charged was bailable in nature. He cited relevant case laws including Mamam Vs State (2012) A FWLR; Suleiman Vs C.O.P Plateau State and Section 16 of the Administration of Criminal Justice Act 2015, in persuading the court to admit his client to bail.

Ajabo further argued that relevant and sufficient materials had been placed before the court to enable it exercise its discretion in favour of the defendant and to grant him bail on liberal terms. He added that as a serving General in the military, the defendant would not jump bail, but be available to face his trial. Opposing the bail application, prosecution counsel, Jirbo urged the court to refuse the application and send the defendant to prison custody to serve as a deterrent to others. The court, however, granted him bail in the sum of N10 million and a surety in the like sum. The surety, according to the judge, must be a civil servant not below the rank of an Assistant Director. Amosu, Gbadebo and Adigun A former Chief of Air Staff, Air Marshal Adesola Amosu was also not left out from those top officers in the dock as he was arraigned before a Federal High Court in Lagos over an alleged fraud of N22.8billion. Amosu was charged alongside two ex- top Air Force officers, Air Vice Marshal Jacob Bola Adigun, Air Commodore Gbadebo Owodunni Olugbenga and eight companies. The companies are; Delfina Oil and Gas Ltd, Mcallan Oil And Gas Ltd, Hebron Housing and Properties Company Ltd, Trapezites BDC, Fonds and Pricey Ltd, Deegee Oil and Gas Ltd, Timsegg Investment Ltd and Solomon Health Care Ltd. The defendants were arraigned by the Economic and Financial Crimes Commission (EFCC) on a 26-count charge before Justice Mohammed Idris. The defendants through their counsel had urged the court to admit them to bail. The prosecution consequently opposed the bail application. In his ruling on the bail applications, Justice Idris held that in view of the fact that there was no counter affidavit to the applications, the court was disposed to granting bail to the accused persons. The defendants were however granted bail in the sum of N500million with two sureties in like sum. The sureties, according to the judge, must have landed property within the court’s jurisdiction and should deposit their title documents to the court’s registrar for verification. The sureties are also to swear to an affidavit of means while the accused persons are to deposit their international passport with the court’s registrar. However, reports had it that there are indications that the case may be settled out of court as Amosu had already returned N4billion to the EFCC. Counsel to Amosu had informed the court of the process. The matter will continue in the new legal year. AVM Kayode-Beckly Air Vice Marshal John Adeniyi Kayode- Beckly is another Air Chief facing trial over one count charge of bribery. Beckley who is the Director of Armament with the Nigerian Airforce allegedly collected N10million as gratification from a contractor, one Mr. Hima Abubakar, of Societe D’Equipments Internationaux Nig. Ltd. The defendant however pleaded not guilty to the charge and prayed the court to admit him to bail. The trial judge, Adebukola Banjoko however admitted the defendant to bail in the sum of N10million with two sureties in like sum.


25

MONDAY, october 3, 2016 NEW TELEGRAPH

Interview

Business What's new Aviation earned $1.13bn in 2014/2015, says report p.26

Nigeria, others import $1.7bn Scotch whisky in six months p.26

‘More small and medium enterprises would close shops’

Money Analysts: Eurobond issuance more beneficial than assets sale

34 36

Rates Dashboard INFLATION RATE August 2016 ..........................17.61 % July 2016.................................17.1% June 2016 ..............................16.5%

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

EXCHANGE RATE

EXCHANGE RATE

(Parallel Market as at September 30)

USD . . . . . . . . . . . . . . . . . . . . . . N475 Pounds . . . . . . . . . . . . . . . . . . . N580 Euro . . . . . . . . . . . . . . . . . . . . . . N500

l Foreign Reserves – $24,566,419,718bn as at 29/9/2016

(Interbank as at September 30)

USD . . . . . . . . . . . . . . . . . . . . . N305 Pounds . . . . . . . . . . . . . . . . . . N397 Euro . . . . . . . . . . . . . . . . . . . . . N347

Source: CBN

L-R: Chief Compliance Officer, Sterling Bank Plc, Mr. Raheem Owodeyi; Chairman, Committee of Chief Compliance Officers of Banks in Nigeria (CCCOBIN), Mr. Opeyemi Adojutelegan; Managing Director/CEO, Sterling Bank Plc, Mr. Yemi Adeola and Chief Compliance Officer, Heritage Bank, Mr. Wumi Adeniyi, at the monthly meeting of the committee sponsored Sterling Bank Plc in Lagos.

Desertion of Atlas Cove raises NNPC’s demurrage to N6.7bn BOOST NNPC mulls award of contracts to add 1.5 million cubic meters to Atlas Cove storage capacity

The Business Desk Ayodele Aminu

Adeola Yusuf

Bayo Akomolafe

T

Deputy Editor (Business) Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

he desertion of Atlas Cove jetty, the biggest petroleum products’ storage facility in Nigeria, has increased demurrage incurred by vessels on contracts with the Nigerian National Petroleum Corporation (NNPC) to N6.56 billion in five months (April to August 2016), New Telegraph has learnt. Investigations revealed that the full operations for vessel discharge, storage and product distribution through pipeline at the multi-billion dollars jetty located in Lagos have been grounded for about six months. A breakdown of the figure according to documents sighted by this newspaper, shows that $35,000 was paid daily per vessel or average of $175,000 (N43.75 million) daily on demurrage on at least five foreign mother ships on long wait on the high seas for cargo discharge processes due to deser-

tion of Atlas Cove jetty, which has capacity to berth them. This amounts to about N6.5625 billion ($26.250 million) in five months based on average of N250 per dollar exchange rate. The problem with Atlas Cove, checks by this newspaper revealed, was worsened on one hand by the failed system 2B pipeline, which is used to convey product from the jetty to NNPC depots in Ejigbo, Mosimi, Ibadan, Ore and Ilorin. The bad shape of tanks in most of the depots, on the other hand, also worsened product supply drought to the depots. The drought hit six months last weekend. NNPC, which also confirmed the loss, stated that it was mulling contract awards to add 1.5 million cubic meters to Atlas Cove storage capacity. Group Managing Director of NNPC, Dr. Maikanti Baru confirmed what he called the “huge loss to demurrage,” blaming it on non-functioning of Atlas Cove jetty. “NNPC will get key tanks at the Atlas Cove re-engineered, redesigned and refurbished as the case may be and boost the storage capacity of the jetty by 1.5 million cubic meters,” he said. The N6.5625 billion ($26.250 million) figure represents findings collated in the last five months, the period when NNPC began to adorn the regalia of near-sole importer

$7.4 billion Being due payments for cash call in the NNPC Joint Venture (JV) operations with the oil companies as at July, 2016

of petroleum product in Nigeria due to consignees (importers) temporary withdrawal from product importation. The marketers also confirmed their low participation in product importation to this newspaper last weekend. Executive Secretary, Major Marketers Association of Nigeria (MOMAN), Mr. Thomas Olawore, told our correspondent on the sideline of the commissioning of four tanks at the Mosimi depot that the level of importation by marketers had dropped drastically. “For now NNPC is importing more than anybody. Our level of importation has dropped and this was due to the scarcity of Forex (foreign exchange) for marketers,” he said. Key members of the Indigenous Ship Owners Association of Nigeria (ISAN) also confirmed the huge loss to demurrage. They, however, blamed it on undue preference for foreign vessels ahead of local vessels in flagrant disregard for local content development law of Nigeria. Top officials of ISAN such as Captain Niyi Labinjo, Akin Olaniyan and Mr Joe Ugo-Emeribe, had in a briefing some months ago, blamed the management of NNPC and the Nigerian Maritime Administration and Safety Agency CONTINUED ON PAGE 26


26

BUSINESS |news

MONDAY, october 3, 2016 NEW TELEGRAPH

Aviation earned $1.13bn in 2014/2015, says report IMPRESSIVE Earnings must be domiciled in Aviation Operational Sustenance Account Wole Shadare

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he estimated total earnings in foreign exchange that accrued to the aviation industry were $1.132 billion according to statistics of passenger traffic for 2014/2015. The figure shows that within that period 2.5 million litres/ day of fuel was sold to foreign airlines at $0.60 per litre, which amounted to $400, million. The Federal Airports Authority of Nigeria (FAAN) Passenger Service Charge (PSC) of $50 per passenger on about 3.5 million outbound International Passengers (2014/2015 FAAN Passengers Traffic Statistics) translated to $150 million; landing and parking charges on 25,000 foreign airlines aircraft at average of $1500 per aircraft amounted to $62 million according to 2014/2015 FAAN air traffic statistics made available to New Telegraph. For the Nigerian Airspace Management Agency (NAMA) air traffic control/air navigation service charge on about 100,000 inbound, outbound or overflying International Flights at average

Desertion of Atlas Cove raises NNPC’s demurrage to N6.7bn CONTINUED FROM PAGE 25

(NIMASA) for the poor positioning of indigenous shipping operators in the nation’s lucrative petroleum sector. The association, which had been having a running battle with the regulatory authorities on the strict implementation of the provision of the Coastal and Inland Trade Act 2003 since mid-2009, noted that both agencies have failed woefully in the implementation of the Nigerian content initiative and the Cabotage act. They said the cabal has held Nigeria by the jugular and is milking her dry through contrived huge demurrage by the foreign merchant tankers, even as the nation groaned under recurring fuel scarcity. “Some of the vessels are MT Baltic Merchant and for NNPC. They have been on demurrage at $35,000 per day for as long as three to four months. “Why have these vessels refused to discharge their products even in the face of biting fuel scarcity”, Labinjo asked. Meanwhile, as at July, 2016, the due payments for cash call in the NNPC Joint Venture (JV) operations with the oil companies had risen to $7.4 billion.

of $600 per flight, $60 million was realised. Also accruing to the coffers of government was the $20 airport security tax, which passengers leaving the country pay. Security charges of $20 per passenger on 2.5 million outbound international passenger grossed $50 million. The NCAA/ministry charges on Bilateral Air Services Agreement (BASA) royalties and commercial agreement with foreign airlines on about 2.5 million inbound and outbound passengers at average of $80 per seat amounted to $280 million. Foreign exchange earnings on inbound passenger and cargo from about four airlines operators on regional, continental and intercontinental at average of $2.5 million per week amounted to $130 million. The foreign earnings of other aviation service providers such as Nigerian Aviation Handling Company (NAHCO Plc, Skyway Aviation Handling Company Lim-

ited (SAHCOL) are not included. Speaking on the issue, former Commandant, Murtala Muhammed Airport, Lagos, Group Capt. John Ojikutu, said from the estimated forex earnings, it would appear that the service providers make more forex earnings than the airline operators especially the fuel marketers, NCAA and FAAN. He noted that one must however, be mindful that these earnings are the benefits of the various BASA between the Federal Government and countries of the foreign airlines. “Therefore BASA must be seen as the commonwealth of Nigerians that should be shared to the operators according to their operational needs.” He noted that if the fuel marketers who presently are importing fuel do not supply fuel, the airlines would not fly, adding that they should therefore be given the first consideration over the other operators. Secondly, forex earnings so

earned, he said, must be domiciled in an Aviation Operational Sustenance Account with CBN to support airline operations, hinting that they should in turn be given the naira equivalent. Ojikutu stated that it could however, be used for the specifics listed in the Operators Business Plan approved annually by NCAA in accordance with Part 18.7.5 or 18.10.5 etc to support operations. “When the needs arise, it could be used for any airline‘s capital project provided it is at least in its three years consecutive Business Plan approved by the NCAA and the National Assembly in consultation with other operators.” He called on government to audit airlines and other operators’ foreign exchange earnings and spending in the last five years to determine their genuine annual forex needs. His words: “Government should review the NCAR Economic Regulation to enforce all

first line operators to domicile their foreign exchange earnings and spending in an account with the Central Bank of Nigeria (CBN). CBN can open a window for operators who want to collect naira equivalent but can only collect from forex sustenance account with the approval of the NCAA and subject to the operations requirements in the business plans submitted for that year.” This arrangement, he reiterated, would reduce the demand for forex by airlines from CBN, stressing that CBN would have sufficient forex to offer foreign airlines to repatriate their earnings to their home countries. Annual excess in forex earnings he also said, would also grow for capital projects for front-line operators as loans. “Again, based on their business plan submitted, evaluated and approved by NCAA, government may provide recoverable intervention funds for frontline operators,” he added.

UBA Chairman, Mr Tony Elumelu, and President, Lagos Chamber of Commerce and Industry(LCCI), Mrs Nike Akande, at a business forum organised by USAfrica Business Center and Thomson Reuters in New York, United States, recently

Nigeria, others import $1.7bn Scotch whisky in six months TREND Whisky sales figures have increased by more than half in Nigeria, Kenya, Morocco and Uganda

Bayo Akomolafe

F

ive hundred and thirtythree million bottles of Scotch whisky valued at 1.7 billion pounds were exported from Scotland to Nigeria, South African and some countries in the first six months of 2016 (January to June), New Telegraph has learnt. A report by the Scotch Whisky Association (SWA) revealed that sales figures had increased more than half in Nigeria, Kenya, Morocco and Uganda, while shipments to Angola, which had suffered the economic consequences of the

oil price downturn had been reduced by three-quarters. It added that 10 of the top 15 markets showed growth in the latest figures. The report said that Nigeria imported $20.9 million; Kenya, $15.7 million; Algeria, $14 million; Morocco, $12.7 million; South Africa: $185.6 million and Angola $33.5 million. Also, Ethiopia imported $28.9 million; Namibia $26.2 million; Ghana, $8.5 million; Mauritius: $8.1 million; Egypt, $12.4 million and Cameroon $7.6million. It noted that 13 million bottles of whisky were sold in the Nigerian per annum. The study said that people in the middle class were taking pleasure in the consumption of the drinks. It noted that the volume of whisky exported to other countries in the European Union increased by five per cent to the equivalent of 208 million bottles between January and June

2016. But value of these fell by oneper cent to £518 million, it further explained. However, it said that the United States was still the largest market for whisky exports by value, with sales worth £357.4 million in the same period, a rise of 9 per cent from the first half of 2015. The report noted: “The largest volume of sales went to France, with exports increasing from the equivalent of 86.5 million bottles in the first six months of 2015 to the equivalent of 90.9 million bottles in the same period of 2016. Also, it said the equivalent of 41 million bottles was exported to India after a 41 per cent increase in sales volumes. According to SWA, there was also a rise by over half in the amount of single malt whisky shipped to India, reaching more than 700,000 bottles. It said: “The Latin American market showed continued volatility, with Colombian sales

up 22 per cent, Chilean up 30 per cent and Venezuelan by 74 per cent. Yet in Colombia and Venezuela, because the mix of whiskies shifted to lower quality, the value fell. The total value for Latin America was down 11 per cent, with volume up five per cent. The study noted that the amount of Scotch whisky sold overseas had increased for the first time since 2013, according to the latest industry figures. According to SWA, the 3.1per cent increase represented the first return to growth for three years. The Chief Executive of SWA, David Frost, said the figures suggested there had been a growth in global consumer demand. Frost said: “The first half of 2016 was marked by an improving Scotch whisky export performance, suggesting a strengthening in global consumer demand compared to the last couple of years.


MONDAY, october 3, 2016 NEW TELEGRAPH

BUSINESS | Movers, Shakers and Appointments

27

IFAC appoints first Nigerian to accounting board

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he International Federation of Accountants (IFAC) with headquarters in New York, United States of America has appointed Nigerian, Christopher Nyong, to the International Public Sector Accounting Standards Board (IPSASB). The appointment makes him the first Nigerian and the third African to be appointed, after a South African and a Kenyan, to the prestigious board, according to a statement from the accounting body. Nyong is a Certified Fraud Examiner (CFE) IFAC is the global organisation for the accountancy profession, dedicated to serving the public interest

by strengthening the profession and contributing to the development of strong international economies. It comprises over 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry and commerce. In a letter signed by the Chief Executive Officer of IFAC, Fayez Choudhury, dated September 20, 2016, Nyong was appreciated for his “support of the independent standard-setting boards.” The letter added that Nyong would serve for three years at the first instance, and may be re-appointed for subsequent terms.

Nyong is a member of the Association of Certified Fraud Examiners (ACFE), USA; a Chartered Public Finance Accountant (CPFA) of United Kingdom, a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and had served on the governing council of the institute from 2008 to 2011. Also, Nyong has served as the chairman, Body of Federal and State Auditor Generals in Nigeria from 2007 to 2015. He is currently the auditor general of Cross River State and member of the Federation Accounts Allocation Committee (FAAC), sub-committee on Implementation of International Public Sector Accounting Standards in Nigeria.

Total hires new executive director

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r Abiodun Afolabi has been appointed to the Board of Directors of Total E&P Nigeria Limited (TEPNG) and Total Upstream Nigeria Limited (TUPNI), respectively, pursuant to resolutions of the Board of Directors of each of the companies in July 2016. Also, in a statement by the company, Afolabi has been appointed as TEPNG’s executive

director, human resources & corporate affairs. He succeeds Mrs. Edith Ofili-Okonkwo, who is now retired. Afolabi is an experienced administrator and was, until this new appointment, the Vice President, General Affairs, in Total E&P, Africa Division, a position he held for three years. He holds a bachelors de-

Afolabi

gree in geology from Tulane University, New Orleans and a dual master degree in energy management from the University of Pennsylvania, USA and the French Petroleum Institute (IFP), France. Prior to joining the TOTAL Group, he had worked as a Technical Analyst with The Environmental Consultant, New Orleans, Louisiana and as an Offshore Well Site Engineer at Continental Laboratories, Houston, Texas. He began his career in Total Nigeria in 1992 as an economist. Also, he has held several key technical and managerial positions within the TOTAL Group; some of which include auditor, Elf Petroland (now Total E&P Netherland), The Hague; Financial Adviser, Total E&P France, and Project Director, New Ventures & Assets Management Division, Total Head Office, Paris. From Sept 2008 to July 2013, he held the post of General Manager, Business Development in Total E&P Nigeria. As executive director, human resources & corporate affairs, Afolabi will oversee several entities, including Human Resources, Corporate Social Responsibility; Medical; Information Systems & Telecoms and Government Relations & Communication. He is married with children.

Christopher

Firm names sales director

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lobal Jet Capital has announced the appointment of Graeme Shanks as sales director for sub-Saharan Africa. Prior to joining Global Jet Capital, Shanks was vice president for Sales, Business Aircraft Finance at CIT, where he led the company’s sales and origination activities across the Middle East and Africa regions. Based in London, Shanks’ primary responsibility will be coordinating and overseeing business jet financing and leasing for clients across the UK, Scandinavia and northern Europe as well as key sub-Saharan markets such as Nigeria and South Africa. Shanks began his career as an officer in the British Royal Navy before entering the world of aviation consulting, first with roles at European defense and aerospace company Thales and then joining leading

London-based aviation consultancy AMS Aircraft as head of marketing. At AMS, Shanks was responsible for the development of the company’s business aviation services with a wide range of clients, including banks, leasing companies, multinationals and high-networth individuals. Robert Gates, Global Jet Capital’s managing director, EMEA and APAC Sales, said: “I am pleased to welcome Shanks to the team at Global Jet Capital. Europe is one of our core markets and Graeme’s wealth of knowledge and experience of European and African business aviation will be invaluable to our expansion plans. Graeme is the third important hire in recent months as we have moved quickly to build out of our international origination team.”

Centre employs new MD 25 years after

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he Center for International Private Enterprise (CIPE) has appointed Andrew Wilson as the managing director. Chairman of the CIPE Board of Directors, Greg Lebedev, who announced the appointment in a statement, said that after a careful deliberation and conversations with a list of highly talented and widely experienced individuals, CIPE’s search committee and Board of Directors unanimously selected

Andrew for the position. In Nigeria, CIPE support of business coalitions has led to a better business-enabling environment. In Plateau State, the coalition successfully advocated greater security. It was learnt that the appointment of Wilson was the organisation’s first change of command in 25 years. He succeeds the long-time Executive Director, John D. Sullivan, who retired earlier this year.

Wilson most recently served as CIPE’s Deputy Director for Strategic Planning and Programmes. With degrees from the University of London (UK) and Lewis and Clark College, he was previously the regional director for Europe, Eurasia, and South Asia, where he directed grant and technical assistance programmes and coordinated CIPE’s corporate governance efforts across the globe.

Shanks

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28

BUSINESS |Stock Watch

MONDAY, october 3, 2016 NEW TELEGRAPH

Guinness Nigeria: Falling sales, FX shave earnings The shift in consumer patterns in line with the current economic situation in the country and corresponding squeeze on disposable income are taking their tolls on the earnings of Guinness Nigeria Plc. CHRIS UGWU writes

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s Nigeria continues to suffer from lower crude prices that had drastically reduced government revenues, culminating in public sector workers going unpaid for months, consumers of brewery products are increasingly trading down to more affordable brands due to the economic down turn. Following the challenging macro-environment and the squeeze on household wallets, growth in the mainstream segment has been constrained, with more growth seen among cheaper brands. Notable among the changes to the architecture of alcohol business in the country is the rising to prominence of a new variant of alcoholic drinks, which mixes bitters with spirit. For instance, the introduction of Alomo Bitters produced by a Ghanaian company, Kasapreko Limited, in Accra, has eaten into the market share of all other alcoholic brands. To this end, the audited results of some of the companies in the sector have not been encouraging and the expectations were that the subsequent results will be brighter enough to erase the negatives in the accounts, but unfortunately the trend has continued. Guinness Nigeria Plc, like its peers, has not been able to sustain its performance despite innovative and proactive responses to market dynamics and competitive pressures. Hit by declining sales, dollar shortages and domestic inflation running at 11-year high of 17.6 per cent, Guinness has transited from decline in bottom line to record a pre-tax loss of N2.35 billion for the full year 2016, the first loss in 30 years. Market watchers also attributed the depletion in revenue to stiff competition and drop in the value of naira. Despite that the firm remains among the top in the industry, its share price movements has also receded and remained susceptible to the challenges facing the manufacturing businesses in Nigeria due to the upset in financial sector. The company had its fair share from the current lull in the market following massive profit taking that saw the market lose considerable chunk of investors’ wealth. The firm’s share price, which closed at N125.00 per share on October 31 2015, stood at N97.99 when the closing bell rang last Friday, a decrease of N27.01 or 21.61 per cent year to date.

Financials Taking a cue from the declining bottom line in full year 2015, the country’s second biggest brewer began the 2016 financial year unimpressive with 76 per cent drop in profit after tax for the Q1 2016 ended-September 2015. Its net earnings dropped to N362.296 million during the first quarter of the year as against N1.484 billion posted a year earlier, accounting for 76 per cent decrease. The company also reported 74 per cent drop in first quarter pretax profit to N 517.656 million compared with N1.962 billion posted the same period last year. However, revenue climbed to N21.741 billion during the period under review from N21.047 billion a year earlier, representing a three per cent increase. The trend continued during the second quarter, as Guinness Nigeria also reported 66 per cent decline in profit after tax for the Q2 2016 ended-December 2015. The brewer in a filing with the Nigerian Stock Exchange (NSE) said its net earnings dropped to N1.172 billion during the second quarter of the year as against N3.398 billion posted a year earlier, indicating 66 per cent decrease. The company also reported 65 per cent drop in half year pre-tax profit to N1.652 billion compared with N4.658 billion posted the same period last year. Revenue equally was down to N49.836 billion during the period under review from N55.267 billion a year earlier, representing a 10 per cent decrease. Hopes that there would be an opening at end of tunnel was dashed following continued volatility in the nation’s economy, hence, Guinness reported 83.43 per cent decline in profit after tax for the Q3 2016 ended March 31, 2016. The brewer said its net earnings dropped to N864.178 million during the third quarter of the year as against N5.216 billion posted a year earlier, accounting for 83.43 per cent decrease. The company also reported 83.12 per cent drop in Q3 pre-tax profit to N1.204 billion compared with N7.134 billion posted the same period last year. Revenue equally was down to N69.618 billion during the period under review from N84.750 billion a year earlier, representing a 17.85 per cent decrease. Guinness ended the full year 2016 with a loss after tax of N2.015 billion for the period ended June 30, 2016 in contrast to profit after tax of N7.794 billion in 2015, which according to market watchers, was its first loss in 30-years. The brewer also announced N102 billion revenue for the period under review, as against N118 billion reported in 2015, accounting for a decline of 14 per cent. Operating profit stood at N4.415 billion from N15.667 billion in 2015, representing a drop of 72 per cent. Based on the results, the company said it would cut its total dividend to N 0.50 for 2016 from N3.20 a year ago.

Diageo’s Rescue mission Guinness Nigeria recently received a $95 million loan from parent Diageo to help it cope with dollar shortages in the West African country caused by a slump in crude prices. According to Reuters News, Chief finance officer Ronald Plumridge said the company’s currency needs were much bigger than it was able to source locally and from its exports and so Diageo had stepped in with the loan. “The loan was priced at 3-month Libor plus 4.75 per cent”, he said.

Ndegwa

Conoil Plc. 2015

The combination of a tough economic environment and challenges with naira devaluation had a significant impact on the company’s overall performance

October 30

N125. 00

November 30

N121. 00

December 31

N120. 40

2016 January 31

N115. 50

February 29

N113. 00

March 31

N104. 50

April 30

N91. 28

May 31

N100. 81

June 30

N109. 25

July 31

N93. 51

August 31

N20. 57

September 30

N97. 99

Profit deflators Managing Director/Chief Executive Officer of Guinness Nigeria, Mr. Peter Ndegwa, said the combination of a tough economic environment and challenges with naira devaluation had a significant impact on the company’s overall performance. “Our performance this year was impacted by two major factors, one being the very tough economic challenges around consumer spending, driving consumer preferences towards value brands across the sector, the other, and more significant factor being the effect of FX policy and the devaluation of the Naira,” said Ndegwa. “When you take out the impact of the latter, our underlying performance for the year was broadly in line with the prior year in spite of the pressure on the top line.” This year’s report was the company’s first set of results combining sales from both beer as well as International Premium Spirits (IPS) like Johnnie Walker and Baileys, following its acquisition of distribution rights from its parent company, Diageo, in January this year.

Outlook Chairman, Guinness Nigeria, Babatunde Savage, said despite the continuing deterioration in the operating environment, the Board was pleased with the growth with the Guinness FES and Malta Guinness brands. “We now have a strong participation in the growing value segment of the market through Satzenbrau and Dubic,” said Savage. “We have also started to see early signs that our decisions to acquire the distribution rights in Nigeria to the International Premium Spirits brands of Diageo and to invest in local capacity for spirits manufacturing are the right ones for the business, “he noted. In January 2016, Guinness Nigeria acquired the distribution rights for Diageo, its parent company’s International Premium Spirits (IPS) like Johnnie Walker, Ciroc and Baileys in Nigeria. Also, within the financial year, the company acquired the rights to distribute brands from India’s United Spirits Ltd (USL) for brands like McDowell’s whisky. Guinness also announced an investment of £12 million into its Benin plant for the manufacture of mainstream spirits, locally produced spirits that are offered at a lower price point when compared to imported spirits. “Following the acquisition of distribution rights for IPS and USL brands, we are the first and only total beverage alcohol (TBA) business in Nigeria offering the widest range of drinks – from adult premium non-alcoholic drinks (APNADS) to lager, stout, mainstream spirits and IPS,” Ndegwa said. He noted: “This puts us in a great position to continue to offer consumers quality brands, giving them a choice at every category and price point. “Additionally, innovation continues to be a strong platform for us, we have a highly successful track record with about 60 per cent of our beer and non-alcoholic business now comprised of innovation products launched in the past four years. “So, innovation continues to be one of our competitive advantages in this market and we have a strong innovation pipeline into F18.” Conclusion The difficult business environment has made Guinness Nigeria like its peers unable to get out of woods despite innovative and proactive responses to market dynamics and competitive pressures.


MONDAY, october 3, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

29

The Nigerian Stock Market Exchange as at September 30, 2016


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Insurance

MONDAY, october 3, 2016 NEW TELEGRAPH

THIRD QUARTER REVIEW

The last three months have been a mixed bag of events for the insurance sector, as the economic recession and a few other developments defined the fate of operators. SUNDAY OJEME reports

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he insurance industry, in the third quarter, was in the mode of other sectors of the economy that have been badly hit by economic recession. Financials Having suffered public apathy in the past years, the sector has recently been slowed down due to non-availability of disposable income to take new policies while those already having one agreement or the other with underwriting firms have been reluctant or unable to renew their policies due to the harsh atmosphere. In the above circumstance, the quarter under review signaled what is to come at the end of the financial year as some of the firms reported losses and declines in their financial performance. Axe on product retailers A major event that jolted the industry in the quarter was the sudden decision by the National Insurance Commission to suspend some insurance product retailers. NAICOM took the decision after the Central Bank of Nigeria (CBN) refused NAICOM to issue licences to banks for the provision of bancassurance services to bank customers. While disclosing the directive, the Commissioner for Insurance, Muhammed Kari, said: “From now, all relationships the Commission had hitherto accommodated, where insurance companies pay commission/fees to banks for insurance transactions, referral or introduction, in any guise, is no more valid. You are warned accordingly.” He said the ban on bancassurance partnerships would remain in place until the two regulators agree on a workable model for such deals in Nigeria. “The Commission discovered that an insurance company had signed a 12-year partnership agreement with a bank, when it is supposed to be renewable every two years, this is wrong.” “We also noticed that an insurance company had paid commission in advance to one of the banks and this is abnormal,” Kari said. It also suspended distribution of insurance products through channels such as airlines, online or web-based aggregators, telecoms companies, and other platforms not approved by NAICOM. He said: “Licensing such

Economic recession amplifies industry’s woes L-R: Chief Executive Officer, World Pension Summit/Vice President, Pension & Investment, Chris Battaglia; Director General, National Pension Commission, Chinelo AnohuAmazu; former President Olusegun Obasanjo, and founder, WPS Netherlands, Harry Smorenberg, at the opening of 2016 World Pension Summit ‘Africa Special’ last week in Abuja.

channels is imperative to protecting the consumers and also to ensuring ethical and orderly practice and in further protecting the credibility of the insurance sector which is the principal mandate of the Commission. However, the employment of such channels can only be utilised if that institution is licensed by the Commission, in line with the provisions of the extant law.” NIA’s chair investiture Also of importance within the period was the investiture of the new Chairman of Nigerian Insurers Association, Mr. Eddie Efekoha, an event which he took advantage of to unveil his agenda for the industry. The agenda include stakeholders’ engagement, market Development and Discipline, new NIA building project and educational endowment fund. He said the stakeholders’ engagement was intended to address the knowledge gap between the insurance industry and relevant policy-makers in the country. “Very often, insurance as an instrument for financial intermediation, is misunderstood by policy-makers. It is therefore necessary to enter into constructive engagement with relevant stakeholders to educate them on the workings of insurance business and to fully equip them to be able to respond adequately to the rising cases of fraudulent claims in the market.” On market development and discipline, he said discipline would be enforced in the industry through collaborative efforts by operators to encourage market development and sustainable business practice in the industry. According to him, the measure will involve ensuring that all compulsory insurances are enforced, explore areas of collaboration, particularly on shared services to reduce overhead costs, ensure on-going

Majority of Nigerians are yet to embrace the culture of patronising insurance companies

implementation of risk-based supervision is continued with input from NIA and review the NIA constitution to make more dynamic in response to the changing business environment. Efekoha also canvassed the establishment of Educational Endowment Fund to promote insurance education in the country by encouraging research and hard work in the nation’s tertiary institutions of learning. “I want to restate that the NIA has and will continue to remain true to its legacy as an institution that exists to champion the cause of the insurance industry and policy-holders. We will ensure that the founders’ sense of purpose will be upheld by us at all times by joining hands with other stakeholders to build an insurance industry that is consumer-centric.” It was also a period that provided an opportunity for members of Insurers’ Committee to meet. The event was used to reemphasise the need for awareness as part of boosting penetration.

that would enlist the interest of the people in the business.

CIIN’s Professional Forum At the Chartered Insurance Institute of Nigeria (CIIN)’s Professional Forum in Abeokuta, the Ogun state capital, Governor Ibikunle Amosu challenged the operators to redeem the industry’s poor image in the eyes of the public, to enable them maximise the untapped potential in the economy. The governor believes that this will strengthen the liquidity position to enable them meet the claims of policyholders, companies whenever the need arises. He stressed that effort would help restore public confidence in the ability of the industry to deliver and redeem its obligations to clients. He also expressed surprise that majority of Nigerians are yet to embrace the culture of patronising insurance companies, hence, the need for the institute to engage in public education and enlightenments programmes

South East pension arrears Specifically, South East pensioners alleged that the various states owed them 15 years pension arrears. They painted a gloomy picture of their condition and equally demanded an upward review of minimum pension from N10,000 to N25,000. The pensioners, who spoke through their National Vice President, South-East zone, Dr Emeka Onwumere and zonal chairman, South-East, Comrade C. N. Udensi, said while other governors in the zone were showing some signs of readiness to “do something” on the issue, Governors Rochas Okorocha and Okezie Ikpeazu of Imo and Abia states had paid deaf ears to their plights. While alleging that Imo and Abia states had not paid gratuities since 1998 and 1999 respectively, the pensioners said

Leadway/Total deal Within the same period, A Memorandum of Understanding (MoU) was signed between Leadway Assurance and Total Nigeria, which allows Leadway’s insurance products and services to be sold in some designated Total service stations across the country. With this agreement, Leadway’s easy-to-use third party motor vehicle insurance recharge cards would be sold at the designated outlets nationwide. Asides from selling insurance products, the stations will also serve as collation centres for all insurance-related issues such as claims processing, it added. Pension Various developments occurred in the pension sector within the period, including the never-ending protests by pensioners under the Defined Benefit Scheme.

CONTINUED ON PAGE 31


BUSINESS | Insurance

MONDAY, october 3, 2016 NEW TELEGRAPH

FG applauds stabilisation of pension mgt DENIAL The old pension arrangement under the Defined Benefit Scheme has seen retirees being denied their benefits and dying in penury

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ollowing prudent management of the Contributory Pension Scheme (CPS), the Federal Government has commended the National Pension Commission (PenCom), saying the agency’s administrative skill had stabilised pension management in the country. The Head of Civil Service of the Federation, Mrs Winifred Oyo-Ita said in Abuja at the World Pension Summit (Africa Special) that while the former model of pension was mainly adopted by the advanced countries, developing countries including many African countries opted for the CPS model. She stressed that Nigeria was beginning to see some developed countries also gravitating towards the Contributory Pension Scheme. She said: “In the case of Nigeria, in 2004 we established the Contributory Pension Scheme, due to its obvious advantages, including its sustainability as a system, robust framework that eliminates incentives for corruption and its ability to generate investible long term funds that drive economic development. It is noteworthy that within 12 years of its implementation, the Contributory Pension Scheme has to a large

extent stabilised our pension administration system. “For instance, before the reform, Nigeria had huge pension liabilities in trillions of naira but now the Contributory Pension Scheme has generated over N5.83 trillion worth of pension assets as at 20 June

2016 which are invested in various sectors of the Nigerian economy. I believe that other African countries that have embarked on pension reforms share similar experiences with Nigeria. “We have also embarked upon extending the coverage

of the Contributory Pension Scheme to employees of State and Local Government in line with the provisions of the PRA 2014. Most state governments have adopted the scheme and are at levels of implementation. Our regulator, PenCom, is working assiduously to extend

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the net to cover the informal sector under the micro pension.” According to her, PenCom has been asked to step up its enforcement drive to ensure full compliance by public and private sector institutions in line with the enabling law.

Premium Pension relishes WPS awards

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he Managing Director/ Chief Executive Officer, Premium Pension Limited, Wilson Ideva, has declared the two awards – Wide Coverage/Inclusion and Corporate Governance Innovative, won by the firm in the just concluded World Pension Summit, Africa Special, as proof of first class services offered to clients. Ideva noted that the firm in recent times embarked on projects that have helped promote the industry, adding that the Pension fund Admin-

istrator (PFA) believed that the growth of the industry amounts to growth for firms. He pointed out that the awards would give assurances to Retirement Saving Account (RSA) holders and retirees that the firm was focused and committed to best practices. Ideva maintained that one of the policies of the firm was to build structures and not individuals, stressing that the firm would continue to build on laid down structures that promote first class

whereas the constitution stipulated that workers’ salaries and pensions be treated on first charge of the consolidated revenue, the federal and state governments in the country had consistently violated that section of the constitution. “Our situation has become so bad that these people don’t even consider us as breathing human beings. Okorocha before his second term bid pampered us so much apparently to enlist our support to the extent that before the election, we were just being owed two months pension arrears,” the chairman said. World Pension Summit The third quarter incidentally ended with World Pension Summit (Africa Special) providing a ground for the initiator, former President Olusegun Obasanjo, to speak on the importance of the Contributory Pension Scheme (CPS). Obasanjo at the event called on the National Pension Commission (PenCom) and pension operators to sustain the successes recorded since the

him and when he lives, the whole place collapses. “I am just first among equals, I see my team members as my mate and every morning, I go to their offices to greet, thank them and to see he challenges they are having, and that gives me firsthand view of what is going on.” Not left out in the award galore is the Head of the PFA’s Head of Communication, Mr. Paddy Ezeala, who won a Samsung Galaxy S7 telephone handset from Globacom

L-R: Executive Director, Business Development & Investment, Premium Pension Limited, Kayode Akande; Managing Director/Chief Executive Officer, Wilson Ideva and Head, Corporate Communications, Paddy Ezeala at the World Pension Summit Africa Special in Abuja

Economic recession amplifies industry’s woes CONTINUED FROM PAGE 30

service delivery to clients. The managing director noted that the Premium Pension was unique in all its undertakings, adding that there was a team spirit amongst the staff, which enables them execute their functions without hassle. He said: “We are not building individuals in Premium Pension, we are indeed, building structures. This is the challenge we have in Africa, where you have a super managing director and every other person is subjected to

inception of the scheme by ensuring adequate protection of workers’ funds. He also urged pension operators to intensify efforts in getting more salary earners into the scheme, stressing that they should not compromise the law as they embrace new concepts. He also advocated the need for the enactment of laws to support investment in infrastructure and housing. He urged the operators to sustain the tempo of protecting workers contributions, whilst urging them not to reduce the confidence reposed on them by the contributors. He listed some challenges facing pension schemes across Africa to include untimely release of allocations to pay pensions, weak, inefficient, less transparent and cumbersome structures. “Poor coverage and noninclusion of the private sector, the self-employed and informal segment which is increasingly becoming an important pillar of African economies are also issues which African countries are grappling with.

PFAs UNIT RATE FOR RSA FUND AS AT 23rd September, 2016 S/No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

PFA Premium Pension Crusader Sterling ARM Pension Stanbic IBTC Legacy Pension NLPC Pension Pension Alliance Trust Fund Pensions First Guarantee Pension Sigma Pension Leadway Pensure AIICO pension Fidelity Pension FUG Pension Apt Pension Managers Limited AXA Mansard OAK Pension Investment One Pension Managers Limited IEI Anchor Pension Managers Limited IGI Pension Fund Managers Limited NPF Pensions Limited

RSA 3.0937 3.0532 3.0389 2.9483 2.8805 2.7318 2.6373 2.6341 2.5617 2.5361 2.4659 2.3737 2.1806 2.1454 2.1088 2.0776 2.0734 1.9104 1.8878 1.5219 1.1839

DATE 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 19-Aug-16 23-Sep-16 23-Sep-16 23-Sep-16 16-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 23-Sep-16 22-Sep-16 8-Mar-16 23-Sep-16


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BUSINESS | Financial Market News

MONDAY, october 3, 2016 NEW TELEGRAPH


MONDAY, october 3, 2016 NEW TELEGRAPH

UPBEAT Turnover of 1.287 billion shares worth N9.303 billion in 15,258 deals were traded by investors

Stories by Chris Ugwu

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he NSE All-Share Index and market capitalisation appreciated by 0.31 per cent to close the last trading week of September 2016 at 28,335.40 and N9.733 trillion respectively. Similarly, all other Indices finished higher last week with the exception of the NSE Banking, NSE Lotus, NSE Industrial Goods and the NSE Pension Indices that depreciated by 2.26 per cent, 0.23 per cent, 0.84 per cent and 0.59 per cent respectively, while the NSE ASeM Index closed flat. A turnover of 1.287 billion shares worth N9.303 billion in 15,258 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 4.331 billion shares valued at N16.803 billion that exchanged hands the previous week in 16,797 deals. The Financial Services In-

BUSINESS | Financial Market News

Stock market closes with 0.31% gain dustry (measured by volume) led the activity chart with 970.503 million shares valued at N4.540 billion traded in 8,298 deals; thus contributing 75.41 per cent and 48.80 per cent to the total equity turnover volume and value respectively. The Agriculture Industry followed with 109.788 million shares worth N155.716 million in 269 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 82.938 million shares worth N2.774 billion in 2,884 deals. Trading in the top three equities namely – Continental Reinsurance Plc, FCMB Group Plc and Livestock Feeds Plc (measured by volume) accounted for 463.640 million shares worth N516.306 million in 770 deals, contributing 36.03 per cent and 5.55 per cent to the total equity turnover volume and value respectively. Thirty-five equities appreciated in price last week, higher than 33 equities of the previous week. Thirty-two equities depreciated in price, higher than 25 equities of the previous week, while one 118

equities remained unchanged lower than 122 equities recorded in the preceding week. Also traded last week were a total of 4.761 million units of Exchange Traded Products (ETPs) valued at N25.821 million executed in 45 deals, compared with a total of 615 units

valued at N6,070.20 transacted the previous week in 21 deals. A total of 2,023 units of Federal Government Bonds valued at N1.925 million were traded in 4 deals compared to a total of 3,994 units of Federal Government Bonds valued at N3.263 million transacted the

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nually would create a sustainable economic growth as it is done in Indonesia and India. Chike-Obi, who spoke on: “Growth, the only Nigeria’s Imperative,” canvassed massive investment in infrastructure either through savings or borrowing at a very low rate. “We can borrow to finance infrastructure. Government must use its balance sheets creatively. This system makes it easier for banks to lend money. It also encourages foreign investors to come to a country. What we have currently in Nigeria is currency-adjustment inflation. By this currency adjustment

previous week in 5 deals. A total of 30,000,000, 60,000,000 and 31,000,000 units were added to the following bonds: 12.50 per cent FGN JAN 2026, 12.40 per cent FGN MAR 2036 and 14.50% FGN JUL 2021 respectively on the 30th of September, 2016.

Mutual Benefits’ Q1 2016 pretax profit down by 29%

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utual Benefits Assurance Plc has posted a pre-tax profit of N411.632 million for the first quarter ended March 31, 2016. This represents a drop of 28.74 per cent over N577.698 million recorded during the same period of 2015. Profit after tax stood at N320.508 million in 2016 as against N392.529 million reported a year earlier, accounting for a decline of 18 per cent. However, according to a notice from the Nigerian Stock Exchange (NSE), the statement of financial position as at the period under review, showed gross premium written grew to N3.174 billion in 2016 as against N2.600 billion recorded a year earlier, indi-

cating an increase of 22.07 per cent. Mutual Benefits Assurance posted a pre-tax profit of N1.195 billion for the financial year ended December 31, 2015 as against N4.980 billion recorded during the same period of 2014, representing a drop of 81 per cent. Profit after stood at N812.048 million in 2015 as against N4.980 billion reported a year earlier, accounting for a decline of 76 per cent. The company’s gross premium written grew to N14.598 billion in 2015 as against N15.451 billion recorded a year earlier, indicating a drop of 6 per cent. The insurer recently signed a Memorandum of Under-

Chike-Obi, Abe advocate models of economic transformation xecutive Vice President, Alpha Africa Advisory Limited, Mr. Mustapha Chike-Obi, has proposed Indonsian and Indian models of capital formation for moving the Nigerian economy forward. The immediate past and pioneer Managing Director of Asset Management Corporation of Nigeria (AMCOM), who was the guest speaker at the investiture of the 9th President of the Chartered Institute of Stockbrokers (CIS), Mr. Oluwaseyi Abe, in Lagos, explained that at least an investment of 30 per cent of the Gross Domestic Product (GDP) in infrastructure an-

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inflation, a pensioner has lost about two-third of his pension,” he said. Speaking on the Nigerian capital market, Chike-Obi explained that the market trades about ten million dollars worth of securities daily, but has capacity to do more. He stated that the issue of market liquidity must be addressed without further delay. Corroborating Chike-Obi, Abe explained that the Capital Market would continue to be the main driver of the economy. “The importance of the financial system cannot be overemphasised. It is the

axle on which the wheel of the economy revolves. A robust financial system engenders a stable macro-economy. “The Capital Market is one of the most important drivers of economic growth and development. It is a major source of funding for infrastructure with strong socioeconomic impact; and there is a correlation between a robust capital market and accelerated growth”, said Abe, Abe gave the assurance to the Capital Market regulators and operators of his administration’s resolve to initiate and implement policies that would bring about a turnaround of the capital market.

standing (MoU) with Cool World, a subsidiary of PZ Cussons, to provide insurance cover for its products. Group Managing Director, Mutual Benefits Assurance, Dr. Akin Ogunbiyi, said the partnership would expand its insurance service to more Nigerians. “By this partnership, all products bought by customers of the firm in the country will be insured against losses such as household damage from fire, material damage and theft among others,” he said. Ogunbiyi said the company was taking this initiative to add value to the products sold by Cool World through insurance, adding that it hoped to extend this service to its customers in West African countries. Managing Director, Mutual benefits General Insurance, Mr. Segun Omosehin, said that the partnership made insurance more beneficial to the public. With collaboration, he said, Mutual Benefits would be able to take insurance to the grass roots. Commercial Director, Cool World, Mr Olugbenga Kolawole, said that the partnership would transform retail business in Nigeria. Kolawole said that customers of the company would not have to worry about any damage they might incur from buying its products because they were fully insured by a reliable insurance firm.


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MONDAY, october 3, 2016 NEW TELEGRAPH

BUSINESS | Interview

‘More small and medium enterprises would close shops’

Ubiji

Eke Ubiji is the Executive Secretary, Nigerian Association of Small and Medium Enterprises (NASME). In this interview with TAIWO HASSAN, he speaks on sundry issues confronting the country’s economy, especially the fuel hike, multiple taxation and high interest rates. Excerpt: How would you assess the country’s economic performance the first three quarters of this year? Well, we started the first quarter of this year on a bad footing and everybody can feel that. For the second quarter, the whole thing continued and the climax of it all showed its fang on the economy with fuel price hike, which was jacked up to N145 from N87 and since then, things have gone bad. In addition to that, the issue of foreign exchange crisis also cropped up. For those of us in the private sector, we know what the foreign exchange crisis has done to us relating to the Central Bank of Nigeria (CBN)’s 41 items prohibition list, when it was banned in 2015. Even manufacturers in the industrial sector cannot import raw materials and machinery. If they were to import, sourcing for the foreign exchange would be a big challenge. So all these things make the economy look very gloomy and that is the truth. When you have these type of economic situations in the country,

it would affect all the sectors in the economy. For instance, electricity supply is yet to be improved and this calls for concerns for private sector operators. Look at power; it is only in the past one month or thereabout that you can say there was a bit of steady power supply in the country. Before, we can stay here in this office for the next two or three weeks without a blink of light. So, these are some of the challenges that manufacturers operating in the industrial sector are facing in the country. But, what really caused the whole thing in the second quarter under review was the sudden increase of fuel pump price from N87 to N145 per litre. The development affected virtually everything in the country and also contributed to high inflation in the economy. The fuel hike brought about high cost of goods and food items in the marketplace. Everything you talk about in the market today, their prices have skyrocketed and people are now very selective in making choice. There are things you see in the market and you wish to buy, but when you hear the unit cost, you will just walk away from it because they are expensive. Everything still boils down to what the economy has been since the first, second and third quarters of the year. But, we are entering the fourth quarter now and if the picture I am seeing is anything to go by, I doubt if there would be light at the end of the tunnel, at least for this year, except miracle happens. Are you categorically saying that in the fourth quarter, there may not likely be any improvement in the country’s Gross Domestic Product (GDP)? Look, we have passed first, second, third quarters and the picture of the economy is still gloomy. It will take a miracle for things to happen

If the picture I am seeing is anything to go by, I doubt if there would be light at the end of the tunnel, at least for this year

now. I am a believer in God. Miracle may happen soon but I doubt this economic recovery in this fourth quarter. The economic indices now do not show that the country’s economy will be ready for recovery in the fourth quarter. Things are terribly hard in the country now; that is the truth and if you have an economy where manufacturing is facing challenges, then, you should know that we are in trouble. Do you know we are still relying on oil and we are talking about diversification, we are talking about solid minerals, agreed, but have we started mining them? We are talking about diversification programme to be able to substitute those raw materials we import from abroad and utilise them locally. Are we doing that in the right way? This is because if there are pure raw materials from agric sector, you really need to get the products and process them before you can now turn them into finished products and give them to those factories that would need them. The Federal Government recently admitted that Nigeria was in recession. Is there anything being done to pull the country out it? You see, the issue is this when you are talking about Nigeria’s economy attaining optimum level, you cannot overlook the ease of doing business in the country. In the recently released global Ease of Doing Business by the World Bank, Nigeria was ranked 169 out of 189 countries. Looking at the gap, it was not much because we are far behind. When you look at the areas of business regulatory, especially in public corporation, taxation agencies and government’s agencies, in terms of what they are supposed to do, you are tempted to ask if they are really encouraging local businesses to grow. For example, a lot of our members complained about National Agency for Food and Drug Administration and Control (NAFDAC) and we want to diversify the economy so that more people would be in production so that employment opportunities would be created. Now, when you frustrate manufacturers who want to register their products by giving them high bills like some of them who are just starting, you tell them to pay N200,000 or half a million from the money they already earmarked to start a business, are you encouraging them? Look at forex challenges; a dollar currently exchanging at N475. So, how do we survive because it is not easy for the average SMEs in Nigeria nowadays, except for the big ones. Even some bigger companies are closing up and relocating to neighbouring countries. This has to do with forex situation in the country. Some of the big companies that want to repatriate their funds into the country are not being encouraged to do so due to the foreign exchange crisis. As the driver of the SMEs in Nigeria, is NASME worried that Nigeria is in economic recession? Yes, we have to be worried. It means that the consequences of the recession will be quite huge on the economy because the economic indices are very clear. Has the interest rates changed? It has not changed yet. Even if you want to import anything into the country now you are going to carry trailers load of naira to get a few dollars to buy what you need, so, it is not really encouraging at all for manufacturers here. In addition, look at the issue of power and infrastructure. Power supply is still abysmally low, which means a lot of SMEs power their businesses either by buying diesel or petrol, servicing their generators, which is an additional cost on their businesses.Automatically, these infrastructural challenges would not make them competitive in the marketplace because when you look at the cost of production, it is on the high side. If your cost of production is very high you cannot be competitive, so things are not really easy. CONTINUED on PAGE 35


BUSINESS | Interview

MONDAY, october 3, 2016 NEW TELEGRAPH

you can see the collateral damage of government’s policy on the real sector. If you are closing shop, the people working for you in your factory will have to go too.

CV The company: Nigerian Association of Small and Medium Enterprises (NASME) Founded: 1996 Asset: Nil Membership: Business Membership Organisation CEO: Eke Ubiji Born: Nil Career: Manufacturing Total pay: Nil Training: Local and international training Education: University of Calabar (B.sc) and University of Ibadan (M.sc) Work experience: Amnesty International, Nigeria, Fair Governance International, Nigeria Membership: Nigerian Institute of Management, private sector bodies and Lead auditor Quality Management System Accounts of Nigeria (ICAN), Memberships of the Institute of Directors (IOD) and the Ikoyi Club 1938. Asset: Nil Career: Auditor with the then Akintola Williams and Co. (Chartered Accountants) in 1985. Until his appointment as the CEO of Wema Bank, he was an Executive Director, Skye Bank Plc with the responsibility for business development across Lagos and South-West directorates of the bank. Total pay: Nil Education: BSC in Chemistry from University of Lagos, MBA, Lagos Business School and Advanced Management Programme of INSEAD, Fontainebleau, France. Awards: A 2007 recipient of the distinguished Alumni Merit Award of the University of Lagos. CONTINUED FROM PAGE 34

How has the economic situation in the country affected the SME sub-sector? Well, what else can I say? We have been saying it again and again. If the developed countries of the world could regard SMEs to be the engine room of their economies, which had already been proven to be true, why is it not the same in our own clime here? How many SMEs can easily access funds in Nigeria today? That is, the funds they need to do their business successfully, none. How many SMEs can survive in this present economic terrain? In some climes, interest rate is single digit, but when you compare it to our own clime, it is different. Will you say you don’t know what interest rate in the commercial banks in Nigeria is? It is now between 26 and 30 per cent. If you are a businessman, can you comfortably borrow based on that percentage except you want to kill yourself? It’s not easy it’s not healthy and SMEs cannot operate well in that regard. Now, we also have challenge of multiple taxation in the country. We have done some serious works in that regard until the new committee set up by the Federal Government looked at the issue at reviewing tax policy came into place. On Nigeria’s multiple taxation, there is no difference between what SMEs owners pay as tax and their counterparts- big industry players also pay. What we are advocating is that there should be a special rate for SMEs if we truly want to allow them to grow in the country and not what government is charging them currently.We are saying that there should be tax holiday for startup SME operator. There are no regards for SMEs as far as our tax system is concerned because it does not make provisions of exemption for new business. We are saying that there should be something new in our tax system. For instance, a startup business should enjoy five years tax exemption so that your business can thrive and you can be able to pay your taxes as at when due after the expiration of the immunity. We are not saying that SMEs owners should not pay taxes. What is your take on the rise in the shutdown of SMEs in Nigeria? The rate at which SMEs are shutting down or ailing in the country has been a cause for concern for us - private sector operators who are operating in this country. You can see that the consequence of their closure of businesses is quite huge on the country’s dire economy because the indices are there for everyone to see that our economy is gloomy or retrogressive in nature. Do you know the at which industries are closing down in the country presently? This I mentioned at stakeholders’ dialogue organised by NOIPolls and the Centre for the Study of Economic of Africa (CSEA) recently in the Federal Capital Territory (FCT) Abuja, where I said that 222 industries had closed shops were only from 11 states nationwide. This is only for those who

responded among our members and we didn’t go outside our own organisation. So, if it is 222 industries from 11 states you can imagine what it will be by year-end. So, the number of SMEs winding up operations would rise by the end of this year? Definitely that will happen. You know I revealed the exact figures we received from the 11 states we got. So if other state chapters had responded there would have been more industries. I was exact on the raw data we got. That was from the feedback we got from the 11 states and it got a good spread from the South-South, South-East, North-Central, South-West and North-West and those who responded were the ones captured. The reasons for their shutdown range from power problem, high interest rate, multiple taxation and also forex. Forex is really a critical challenge because many of them cannot get the much-needed amount of money they need to source dollar from the forex market. It is really alarming. What about a situation when you have a company that deals in importation of raw materials and your raw materials cannot get into the country because of dollar exchange rate you discover that the dollar you need to clear your goods will be so huge. But if you cannot get the dollar then what you need to do is to close shop and find something else to do. This is the implication of the forex crisis manufacturers are facing now in the c o u n t r y. N o w,

35

What is the estimated value of economic losses for the 222 companies that have closed shops? It will be difficult for me to quantify their losses to the country’s GDP because you need to know the values of these companies and the values of what they are doing. It is not something you estimate like that but definitely, I can tell you it will run into billions of naira. About 222 companies, if you look at their staff strength and what they are into you can only give a rough estimate that the amount will be running into billions of naira. It will be safer to put it in that context.

222 industries had closed shops ...only from 11 states... the number would rise by the end of this year

Ubiji

What is your take on Federal Inland Revenue Service (FIRS) s’ clampdown on SMEs for tax defaults? You can see that the business environment is gloomy, which affected SMEs in negative ways. A SMEs that is struggling to survive, if you slam huge tax bill on the person, the firm is going to die. All other things being equal, if things are normal and businesses are doing very well, we will not encourage our members to default in their tax payments. We will not encourage that because tax payment is a patriotic duty, not just patriotic, it’s also a civic duty, which we have to do because when you pay your tax promptly you expect some services from the government. The economic environment is so hostile to us, but we are not saying members should not pay tax, but we are being realistic. Is the environment encouraging you? No. Look, at electricity firms, their bills have become so high for Nigerians to afford. The same SMEs will pay electricity, dues, rates, levies and local government bills. That is why those in operations are reducing their staff strength, thereby populating the labour market. There are those who are still in business but due to the economic challenges in the country are reducing their staff strength to remain in operation while others who cannot meet up, are closing shops. When they close shops, the people who worked for them would be told to go home. The Central Bank of Nigeria (CBN) has initiated many economic intervention programmes for SMEs. What is your assessment of the performance of the apex bank’s N220 billion MSMEs fund? There have been a lot of interventions from the CBN, which are quite critical. We must commend the CBN for coming up with those interventions. They are all good initiatives that have helped sharpen the country’s SME sector and the economy in general. On the CBN’s N220 billion MSMEF, the last information I got about it was that only 40 per cent of it have been expended so far on SMEs. Now, commercial banks are also involved in the disbursement. CBN should keep its eyes and nose on what is the problem with the fund disbursement. Apart from the commercial banks’ involvement in the fund, you also know that the state governments are also part of it. You know each state government is entitled to N2 billion from the fund, which will be given to SMEs operating within the state. So, there is a way in which the CBN should check with the state governments if they are really disbursing this money for the set purpose and how? Is the money really trickling down to the SMEs who really need them in the states? The N220 billion is not only for commercial banks alone. The states too are involved. Each state is entitled to N2 billion if you meet the requirements. So, it is for CBN to find out since it has all instruments to know how many states have accessed N2 billion per state. Are they being used for that sole purpose of SME growth? How are they being used? Do they give it to those that need them? If they are getting it you will feel the impacts in the economy. I know some members have been able to access the fund but if you look at the number, it is insignificant compared with the N37 billion SMEs in Nigeria, according to the statistics released by the National Bureau of Statistics (NBS), that is, those captured formally in the data and there are those that have not been captured within the network.


36

BUSINESS | MONEYLINE

MONDAY, october 3, 2016 NEW TELEGRAPH

Analysts: Eurobond issuance more beneficial than assets sale Guidance Programme will boost foreign capital inflow

Tony Chukwunyem

W

ith about two months to the date of commencement of the sale of Nigeria’s Eurobond, analysts at FBN Quest have said that an expansion of the bond issuance programme could be more beneficial to the country in the long run than the Federal Government’s proposed sale of national assets. In a note obtained by New Telegraph, the experts faulted the planned sale of the assets on the grounds that the scale of the auction will not generate the kind of amount required

to cover some of the country’s critical needs. The analysts contended that proponents of the sale who have projected that the country will realise $15 billion from the sale of key national assets such as the Nigerian National Petroleum Corporation’s (NNPC) interests, the Nigeria Liquefied Natural Gas(L NG), leading airports and miscellaneous stakes such as the Central Bank of Nigeria (CBN)’s 42.5 per cent interest in the Africa Finance Corporation (AFC), are not considering the fact that the nation will be “selling from a position of weakness.” They pointed out that under the Yar’Adua presidency in 2009, Chinese state interests reportedly offered $50 billion for a list of Nigeria’s oil leases. According to them, a programme of asset sales to gen-

World Bank: Tackling inequality, key to ending extreme poverty by 2030 Tony Chukwunyem

A

new World Bank study on poverty and shared prosperity has stated that extreme poverty worldwide continues to fall despite the lethargic state of the global economy. But it warned that given projected growth trends, reducing high inequality may be a necessary component to reaching the world’s goal of ending extreme poverty by 2030. According to the inaugural edition of the study, entitled: “Poverty and Shared Prosper-

ity” - a new series that will report on the latest and most accurate estimates and trends in global poverty and shared prosperity annually - nearly 800 million people lived on less than US $ 1.90 a day in 2013. That is around 100 million fewer extremely poor people than in 2012. Progress on extreme poverty was driven mainly by East Asia and Pacific, especially China and Indonesia, and by India while half of the world’s extreme poor now live in Sub-Saharan Africa, and another third live in South Asia, the report stated. In 60 out of the 83 countries

erate $30 billion to $35 billion, would, given Nigeria’s current import demand of $4 billion per month, would cover six months’ imports and clear the backlog of dues to airlines as well as payments to the offshore portfolio community. They, however, argued that if the Eurobond issuance programme scheduled for this year was expanded, it would yielded far more positive results for Nigeria than the asset sale would have produced. The experts said that under an expanded Eurobond issuance programme for this year, “portfolio players would return in greater numbers, other autonomous fx inflows would recover strongly and the exchange rate would enjoy stability in a fully functioning market.” Besides, the analysts pointed out proceeds from an asset sale covered by the new report to track shared prosperity, average incomes went up for people living in the bottom 40 per cent of their countries between 2008 and 2013, despite the financial crisis. Importantly, these countries represent 67 per cent of the world’s population. “It’s remarkable that countries have continued to reduce poverty and boost shared prosperity at a time when the global economy is underperforming but still far too many people live with far too little,” said World Bank Group President Jim Yong Kim. “Unless we can resume faster global growth and reduce inequality, we risk missing our World Bank target of ending extreme poverty by 2030.

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 17.61

Mar, 2015 Mar, 2015 August, 2016

14 10.77 US$48.77 US$24,566,419,718

26/07/2016 Mar 2015 30/9/2016 29/9/2016 Source: CBN

FGN Bonds

TTM

Price 104.65 114.59 111.96 120.58 109.60 100.54 83.82 97.56

1.07 3.24 3.87 5.82 7.95 9.81 14.31 18.29

NIBOR

Rate (%) 4.4583 9.1071 11.0102 12.3790

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)

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

NITTY

Rate (%) 6.9949 7.2368 8.0819 9.2061 9.5872 10.5042

1 2 3 6 9 12

Treasury Bills

Offer Yield 10.24 10.45 11.51 11.38 12.22 12.34 12.39 12.44

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 ▼

Spot($/N)

Bid 199.14

FX

Offer 199.24

Change (%) 0.57 ▲

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of January 7, 2016 Spot($/N)

196.00

197.00

0.00 ↔

Offer 199.1000

Change (%) -1.75 ▼ -2.08 ▼

Change (%) 0.00 ↔

would take time to materialise, even though, according to them, “a strong marketing pitch would send a positive signal to the market.” Minister of Finance, Mrs. Kemi Adeosun, said last month that the country would raise $1 billion on the Eurobond market in December this year as part of measures to plug the N2.2 tril-

lion deficit in the 2016 budget. The Federal Government had earlier last month approved the plan to issue international debt for the first time since 2013. Adeosun said the proceeds of the bond sale would be channelled into capital projects, adding that it was part of moves designed to get the country out of recession.

Sterling Bank floats ‘Quick Cash’ initiative for women entrepreneurs

S

terling Bank Plc through its ‘One Woman’ proposition, has launched a new initiative called the “Market Women Quick Cash.” Managing Director, Mr. Yemi Adeola, disclosed this at the launch of the enterprise last weekend at the Entrepreneur Research and Development centre in Kaduna State. The Sterling Bank MD, who, was represented by the bank’s Company Secretary/Legal Adviser, Justina Lewa, said the initiative would solve challenges faced by market women desiring access to credit. The new preposition is in partnership with Afrigrant, a non- governmental organization (NGO). It is expected to promote women empowerment and capacity building. The initiative is designed to bridge the gap between women entrepreneurs and access to funds, thus aiding the process of bringing them into the formal sector, where they can benefit from financial advisory services, capacity building and mentorship. Adeola said the proposition is specifically designed to provide access to convenient savings, transaction and quick loan services for women using both self-service methods and agent banking. He explained that the lender adopted both methods because “we believe the future of banking resides in the hand of the customer and we must begin to drive that paradigm shift by empowering them from now. Our partnership with Afrigrants allows us bridge this gap by providing a familiar interface for the customers”. The Sterling Bank boss explained that the significant number of women in Nigeria’s population makes it imperative to deliberately focus on their

needs to ensure sustainable economic development and growth. His words: “Adult women constitute over 50 million of Nigeria’s population and only about 31% of this population are banked according to EFInA Access to Financial Services in Nigeria Survey 2014. The business case for targeting women is simple; they are the more excluded gender. More so, 21.4million females (42.7% of the total female population) are financially excluded; 15 million of these women are earning income frequently. This provides a huge opportunity for structural changes within the economic and financial system if we pay attention. To enable us to make an impact for inclusion, we must reach as many women as possible”. In her goodwill message, the Kaduna State Commissioner for Women Affairs and Social Development, Hajiya Rabi Abdulsalam noted the Quick Cash initiative would help the government at all levels to cushion the effect of the current recession especially as it relates to access to required funds by women entrepreneurs to grow their business. Her words: “It is on this note that l am happy with the idea of having private sector operators coming together to bring this noble innovation of giving out loans to women at 9 per cent interest rate, zero collateral to enable women play active role in the economic development of the country at a time when the economy is in recession In her keynote address, Her Excellency Hajia Aisha Ummee El Rufai, commended the bank for coming up with the initiative, which is going to transform the lives of women in the country.

‘Half of world’s extreme poor live in sub-Saharan Africa’

H

alf of the world’s extreme poor now live in sub-Saharan Africa (SSA), and another third live in South Asia, a new World Bank study on poverty and shared prosperity has revealed. The report said that extreme poverty worldwide continues to fall despite the lethargic state of the global economy. But it warns that given projected growth trends, reducing high inequality may be a necessary component to reaching the world’s goal of ending ex-

treme poverty by 2030. According to the inaugural edition of Poverty and Shared Prosperity - a new series that will report on the latest and most accurate estimates and trends in global poverty and shared prosperity annually - nearly 800 million people lived on less than US $ 1.90 a day in 2013. That is around 100 million fewer extremely poor people than in 2012. Progress on extreme poverty was driven mainly by East Asia, Pacific, especially China, Indonesia and India.


NEWS 37

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

Nigeria’s economic woes caused by 1999 Constitution –Akinyemi

...says governors who kicked against savings are in Buhari’s govt Wale Elegbede

F

ormer Minister of External Affairs, Prof. Bolaji Akinyemi, has said that the current economic recession in the country is a product of the 1999 Constitution (Section 162), that makes it mandatory for all monies collected by

the Federal Government to be distributed among the federal, state and local governments. The professor of political science, in a statement, said it is unfair to lay the blames of the current economic woes at the doorstep of past regimes, stating that the position of the constitution on money accrued to the federation

NIMASA appoints revenue consultant

I

n a bid to shore up its revenue amidst the nation’s economic recession, the Nigerian Maritime Administration and Safety Agency (NIMASA) has appointed Snecou Financial Services Company Ltd. to assist in revenue generation. The Director-General of NIMASA, Dr. Dakuku Peterside, in a statement yesterday in Lagos, said that the approval for the contract was recently granted by the Parastatal’s Tenders Board (PTB) of the agency at its 55th session held in the agency’s head office in Lagos. “The contract, which also has the company serving as a recovery agent for debts owed the agency, is for a period of two years in the first instance with an option for renewal. “Given the urgent need to recover the agency’s debts which is in billions of naira, the agency sought and obtained approval for a “Certificate of No Objection” from the Bureau of Public Procurement in line with the Public Procurement Act (PPA). “According to the contractual agreement already endorsed by both parties, the contract is based on a success rate of 13 per cent using a benchmark of $19.75 million dollars and N239.60 million monthly revenue,” Peterside said. The director-general said that, “A maximum cap of 15 per cent success rate is payable on any new revenue head discovered by the consultants within the contract period. “In other words, Snecou Financial Services Company Ltd. will be paid 13 per cent of only the revenue that is above the threshold of the approved benchmark in the course of the contracting period. “Similarly, Messrs Snecou will also be entitled to a maximum of 15 per cent of new revenue streams discovered during the period,” Peterside stated. According to the director-general, “We have awarded a debt recovery contract which is totally

different from what Global West was doing for NIMASA. “The contract was not awarded to the Chairman of the All Progressives Congress (APC) in Rivers State. It was awarded to Snecou Nigeria Ltd. and we advertised the contract in several newspapers. “So I do not see what is wrong with awarding a contract to get our money from debtors,” he said. Peterside said that debts owed the agency “are around $4 billion to $5 billion which has necessitated an urgent need to recover them in order to develop requisite infrastructure for the maritime industry.” “Debts owed NIMASA by various operators in the maritime industry had grown exponentially over the last five years,” Peterside added.

account is responsible for lack of savings. According to the Deputy National Chairman of the 2014 National Conference, “If we have to lay blame, it should be at the door of those responsible for the 1999 Constitution. This does not mean General Abdulsalami Abubakar alone, or the military regime alone but includes elements of the judiciary and civilians who were all instrumental in midwifing that constitution.” While stating that his intervention is not aimed at defending past presi-

dents or regimes, he noted that: “My intervention is motivated by the desire to focus attention on the solution. It is thoroughly misleading to isolate and demonise past regimes for the situation where Nigeria has no savings. “The fault is in the 1999 Constitution (Section 162) which makes it mandatory for all monies collected by the Federal Government with a few exceptions to be deposited into a central account and to be distributed among the federal, state and local governments.” He stressed that in the

constitution, “no provision was made for savings.” “This with considerable charity can only be called an unforgivable oversight,” he stated. Akinyemi also highlighted the efforts of former President Olusegun Obasanjo and Goodluck Jonathan at ensuring that the nation put in place “savings through the backdoor such as Excess Crude Accounts and Commonwealth Savings Funds. “Both were frustrated by the states and the judiciary. The irony in Nigerian history is that some of the state governors who spearheaded the opposi-

tion to the attempts to save are now prominent in the cabinet and the Senate,” he said. Giving a way out of the current economic impasse, Akinyemi advised that: “What previous administrations failed to do and which the present Buhari administration should do is to single-handedly drive a constitutional amendment that would follow the Norwegian model. “The Norwegian experience involves setting up a Government Pension Fund Global into which 100 per cent of the government’s revenue from royalties and dividends are paid. In any one year, no more than four per cent is allowed to be drawn from the account. “The Nigerian model, given our peculiar federalism, can include a provision that any withdrawal from the fund must be with a unanimous decision of the members of the National Economic Council. “This is the way forward and goes beyond name calling and the blame game.”

4%

The percentage of the population of men above 60 years of Kuwait in 2012. Source: Un.org

1.06m

Sokoto State Governor, Aminu Tambuwal, presenting a gift to the Consul-General of Saudi Arabia, Majed bn. Mohammad Al-Qhatani, during a courtesy visit to the governor in Sokoto

The total volume of payment channels made by cheques of Nigeria in March 2015. Source: National Bureau of Statistics

$14.52bn loans: Banks go after power investors CONTINUED FROM PAGE 1

the on-going credit facilities recovery will now cover the power sector. To start with, we need over N300 billion loans sunk in the sector in 2014 financial year, as face-saving to end this year of recession a bit healthy," he said. The DISCOs, he said, "were currently paying just about 28 per cent of their monthly remittances to the banks instead of 100 per cent as agreed and by Monday (today), actions ranging from debtor-creditors' exchange of correspondence to revisiting of terms, will begin from bank to bank." The banks' loan data, sighted by our correspondent, showed that aside from the $2.929 billion facilities extended to power investors to acquire the assets of the Power Holding Company of Nigeria (PHCN) in 2013 under the federal government’s privatisation programme, six banks gave over N300 billion loan to power investors in 2014. The figures for the banking loan facilities extended

to the power sector as at the 2014 financial year as confirmed by banks’ 2014 full year results, showed that a significant portion of their loan portfolios was offered to the electricity operators. The United Bank for Africa Plc’s audited results for 2014 showed that lending to the power sector stood at N83.601 billion in 2014, while First City Monument Bank’s full year results for 2014 revealed that its lending to the power and energy sector in the year was N25 billion. Fidelity Bank Plc’s lending to the power sector gulped N58 billion in the bank’s loan book, whereas Skye Bank Plc’s loan book showed that it lent N19.358 billion to the power sector. Also, Sterling Bank’s full year results for 2014 indicated that the bank committed N13.743 billion as loans to the power sector, even as Union Bank Plc. and Diamond Bank Plc. granted a total of N23 billion and N50.8 billion, respectively to the power sector. Generally, the local and international investors

that participated in the string of acquisitions in the energy sector between 2010 and 2015, particularly the takeover of assets created from the defunct PHCN, raised over $11.6 billion from banks to acquire these assets. The investors staked about $2.929 billion to acquire the assets of the PHCN under the federal government’s privatisation programme. The 28 per cent, instead of 100 per cent monthly remittances to the market by DISCOs, has also led to monthly revenue deficit of an average of N20 billion in the market. Managing Director, Heritage Bank Limited, Mr. Ifie Sekibo, had stated that the banks were concerned about three key issues affecting them. He outlined their concerns to include the seeming poor state of the country's power transmission network, the recurring obstacles in the supply of gas to power plants and the lack of intervention fund for banks that are supporting the sector.

Meanwhile, the Electricity System Operator (SO), which confirmed the zero megawatt generation on its website yesterday, disclosed that the temporary crash in generation occurred on Sunday morning. "Latest generation revision: 2 for 02/10/2016 00:00: 00 occurred at 07:15:00hours," the operator said. Last Saturday, the first day of October, system performance according to SO website showed "peak generation at 4,229 MW; lowest generation at 2,896.30 MW; highest frequency at 51.60 Hz; lowest frequency at 49.03 Hz; and total energy sent out stood at 82,070.13 MWH." The incessant crash in generation caused by transmission network failure has, however, raised concerns over the $1.6 billion transmission upgrade contracts awarded in 2014. The National Economic Council (NEC) had approved the disbursement of the said $1.6 billion for the enhancement of Nigeria's transmission network.

The federal government, which said this while dispelling fears earlier entertained on the progress of the country's power sector reform by a delegation of Nigeria's bankers' forum, maintained that the transmission fund was to be sourced from the proceeds of the sale of the power generation plants built under the National Integrated Power Projects (NIPP). "Another $500 million from World Bank, $150 million from African Development Bank (AfDB) and $170 million from French Development Bank, was expected for transmission upgrade. The ugly past of near total neglect of the power sector would soon be redressed," a statement on the website of the Ministry of Power quoted the former Minister of Power, Professor Chinedu Nebo, to have said. Nebo equally explained that the ministry would do whatever it can to ensure that funds were kept as intervention funds by the Central Bank of Nigeria CBN) to assist the banks.


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NEWS | national

monday, october 3, 2016 NEW TELEGRAPH

FG summons Turkish ambassador over detained students

Mojeed Alabi

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he Federal Government has summoned the Turkish Ambassador to Nigeria, Hakan Kakil, over the arrest, detention and deportation of some Nigerian students from Turkey. Confirming this to New Telegraph via a text message yesterday evening, the Senior Special Assistant to President Muhammadu Buhari on Foreign

Affairs and the Diaspora, Hon. Abike Dabiri-Erewa, expressed optimism that the Federal Government would soon receive positive response from the government of Turkey. According to the former member of the National Assembly, the nation’s invitation to Kakil was sent by the Permanent Secretary in the Ministry of Foreign Affairs, Sola Enikanolaiye. Dabiri-Erewa said;

855,270

The total number of interactions on Facebook of Cristiano Ronaldo in February 2016. Source: Goal.com

“The Ministry of Foreign Affairs has summoned the Turkish Ambassador, Mr. Hakan Kakil. The Nigerian Government has demanded an explanation and demanded the speedy release of the students. The Ministry expects prompt cooperation on the matter from the Turkish authorities.” More than 50 students of Nigeria's origin had been reportedly arrested and detained in connection with the failed military coup in the country in July 2016. The students are mainly of Fathi University, a pri-

vate university in Turkey, which is among the 2099 schools, dormitories and universities shut down in the wake of the July 15 failed coup in Turkey. The detained Nigerians were said to have been escorted to a room and their passports confiscated by Turkish police. Enikanolaiye however noted that the detained students were not up to 50 as earlier reported, adding that the government was expecting a feedback from the Nigerian mission official directed to follow up the issue in Ankara, the Turkish capital.

APC Crisis: Oyegun must go, says Timi Frank Onwuka Nzeshi Abuja

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he crisis rocking the All Progressives Congress (APC) appears not over yet as the Deputy National Publicity Secretary of the party, Mr Timi Frank, yesterday called on President Muhammadu Buhari to ensure that Chief John Odigie- Oyegun, national chairman of the party, resigned. In an open letter, Frank told Buhari that Oyegun lacked the capacity to resolve the crisis rocking the party across the country. He said so many members andAPCleaderswerealready contemplating defecting to

other parties because “injustice had become the order of the day” under Oyegun. Frank, who traced the genesis of the crisis in the party to Oyegun's mismanagement of the leadership crisis that hit the two chambers of the National Assembly, said attempts by other top members to resolve the issue failed because Oyegun was adamant. The letter reads in part: “You may recall Mr President, that this crisis began when the issue of the National Assembly leadership arose and the decision of the party at the time against party members, especially against the senate president and speaker of the House of Representatives."

Scientists: Breakthrough in HIV cure in sight Appolonia Adeyemi

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team of British scientists might be on the brink of developing a cure for Human Immunodeficiency Virus (HIV). According to a report in The Sunday Times, the researchers recently tested their pioneering treatment on the first of 50 participants in a clinical trial. Early tests on the first patient, a 44-year-old British social worker, show the virus is undetectable in the man's blood. HIV is a virus that attacks the immune system, the body's natural defence system. Without a strong immune system, the body has trouble fighting off disease. Both the virus and the infection it causes are called HIV. White blood cells are an important part of the immune system. HIV is mainly transmitted through sexual acts or by using infected needles. The virus weakens a person's immune system by destroying important Tcells that fight disease and infection. About 36.7 million people are living with HIV worldwide, according to the United States, U.S., Centres for Disease Control and Prevention. Around 2.1 million new cases were added in 2015, with nearly two-thirds of new infections occurring in Sub-Saharan Africa, the CDC reported. HIV prevalence is relatively low in Nigeria but its large population means that 3.5 million people are living with HIV as at 2015. If left untreated, HIV can lead to Acquired Immunodeficiency Syndrome (AIDS). Around 1.1 million people died from AIDS-related illnesses last year. In his reaction, Mark

Samuels of Britain's National Institute for Health Research, said: "This is one of the first serious attempts at a full cure for HIV. We are exploring the real possibility of curing HIV.” Samuels added. "This is a huge challenge and it's still early days, but the progress has been remarkable." Britain's National Health Service is backing the clinical trials, which are the result of collaboration between the universities of Oxford, Cambridge, Imperial College London, University College London and King's College London. The trial's first patient, who said he was gay but did not give his name, said he participated in the trial to help others with the disease. While antiretroviral therapies can help control HIV's effects on people's immune system, no effective cure exists yet. The British researchers' potential cure would mirror the effects of antiretroviral therapies in some ways. In untreated patients, the HIV hijacks T-cells and turns them into virus-producing spawn that infect other T-cells. Antiretroviral therapies target and suppress this activity, but they still leave millions of dormant, infected T-cells lying in wait throughout the body. The Sunday Times reported that the new treatment would both suppress infections and kill the reservoir of dormant cells. Sarah Fidler, a consultant physician and professor at Imperial College London, said medical tests of the potentially breakthrough therapy would continue for the next five years. "It has worked in the laboratory and there is good evidence it will work in humans too," Fidler said. "But we must stress that we are still a long way from any actual therapy."

L-R: Former Kwara State Commissioner for Finance, Alhaji Nurudeen Mohammed; Emir of Borgu, Niger State, Mr. Sanni Mohammed Dantoro; Kwara State Governor, Dr. Abdulfatah Ahmed; Emir of Kaiama, Alhaji Muazu Sheu Omar and Kwara State Head of Service, Hajia Zahra Omar, during a courtesy visit to the governor in Ilorin...at the weekend.

Recession may trigger revolution in Nigeria – Sen Sani Chukwu David Abuja

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enator Shehu Sani, (APC Kaduna Central), has warned that if the current economic recession was not urgently addressed by the Federal Government, Nigerians might be compelled to embark on a revolution against the present and past political leaders. Sani gave the warning during an interview with journalists in Abuja in marking the 56th Independence anniversary of Nigeria on Friday, saying that

the recession might be the ignition the suffering Nigerians had been waiting for over the years to fight their leaders for protracted bad governance. He urged President Muhammadu Buhari to extend the scope of his fight against corruption beyond Goodluck Jonathan's administration to its predecessors, with a view to recovering large volumes of the nation's stolen funds and other resources by those leaders. This, he posited was one pragmatic way this administration could fight the recession and quickly re-

BPS, MoD top FoI compliant MDAs Tunde Oyesina Abuja

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he Bureau of Public Service Reforms, BPS and Ministry of Defence, MoD, are the two leading organizations on the index chat of the Ministries, Departments and Agencies which complied with the Freedom of Information Act. This was contained in the 2016 FoI ranking index carried out by the Civil So-

ciety Organizations. The CSOs, in the report set public institutions and security sector organizations into various categories. According to the Special Adviser to the AGF, Comrade Salihu Othman Isah, the research was carried out based on Freedom of Information (FoI) index/compliance in consonance with the FoI Act at a program organized by the Private and Public Development Centre (PPDC).

store hope and confidence in the frustrated people of Nigeria. He said: "We are in recession but the recession must be tackled headlong by the Federal Government and all stakeholders in the polity, towards getting out of it very quickly or else, it may lead to revolution. More so, going by what the Nigerian masses have been facing over the decades as far as governance is concerned, the totality of which was bad governance characterized by unbridled greed and massive corruption by over 90 per cent of the

administrators whether elected or appointed. “The 2015 election supposed to have ushered us to a new hope of unity and progress for our country but I think, there are a lot of mistakes that have been made in the last one year, one of the corrections is the need for us to look forward in terms of bringing our people to the Promised Land and not look backward on crises we faced in the past. "In 1999, Nigerians were full of expectations that this time around, we get things right as a democracy."

Ex-JNI scribe: Moral reawakening, key to anti-corruption war Biodun Oyeleye Ilorin

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ormer SecretaryGeneral of Jama'atu Nasril Islam Society of Nigeria (JNI), Justice Abdulkadir Orire, yesterday called for moral rejuvenation as a sure path to the success of the anticorruption crusade of President Muhammadu Buhari's administration. Orire, who bared his mind during this year's

Hijrah celebration in Ilorin, Kwara State, noted that the anti-corruption war "would not be successful until and unless we devote a mechanism for moral rejuvenation and ethical rebirth." The former Grand Khadi of Kwara State, also added that for the current anti-graft war to be successful, religious studies should be made compulsory in all educational institutions in Nigeria.


national | news

monday, october 3, 2016 NEW TELEGRAPH

FG committed to rescue of Chibok girls –Lai Mohammed

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he Minister of Information and Culture, Alhaji Lai Mohammed, has reiterated Federal Government’s commitment to rescue the abducted Chibok girls by Boko Haram terrorists. The minister spoke at a live programme on Channels Television on Independence titled “Nigeria at 56: Recursive, Resilient, Rising.” Mohammed said that no group, local or international, could claim to have more stake or to be more committed to the rescue of the girls than the Federal Government. He added that the issue of rescuing the girls was a humanitarian one that everyone or group should be “passionate but rational about”. The minister said that contrary to the position of some critics, government had robust counter-terrorism policy and had recorded significance success in fighting Boko Haram in the North East. He noted that the fact that the Chibok girls were yet to be rescued should

not be a yardstick to write off the achievements of government in decimating the Boko Haram. Mohammed recalled that upon assumption of President Muhammadu Buhari’s administration, many parts of the NorthEast were under the control of Boko Haram and were not safe and accessible. He said the situation was not the same today as no part of the North East region was under the control of the group. He reiterated that Boko Haram had been decimated and government was working daily to ensure the release of the abducted girls. “The North-East is free now. Students are returning to schools, all the towns and communities hitherto under the control of the terrorists have been liberated and those who fled their homes are gradually returning,” he said. The minister also recalled that when the Buhari administration assumed power, it was 410 days after the Chibok girls had been abducted without any clue to their rescue by the previous government.

He noted that in all cases of abduction, especially by terrorists, 24 hours was critical to ensuring prompt rescue, adding that the government in power then did not utilise the intelligence available. The minister said that the present administration had thrice established links with the Boko Haram for the exchange of the abducted girls with the arrested members of the terrorist group. He explained that on each occasion, the efforts were thwarted by either the link with the terrorists, fresh demands by Boko Haram or division in the camp of the terrorist group. Mohammed said government had not foreclosed negotiation with the group on the release of the girls but it wanted to ensure that the link were genuine and credible. He said government appreciated the efforts of the “Bring Back Our Girls” (BBOG) group but noted that “the administration is as concerned as they are and ready to work with them in ensuring the release of the girls.”

MTN Customer Service staff protest lay-off in Kwara Biodun Oyeleye Ilorin

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bout 400 contract staff with mobile giant, MTN, at the weekend, protested in Ilorin, Kwara State over the termination of their appointments allegedly in violation of an earlier agreement. The angry workers, who were employed to provide customer care services for MTN through an outsourced agent, Contact Centre Ltd, alleged that they had no proof to show the company paid personal income tax estimated at about N46million for the workers between 2013 and 2016. According to the protesting workers, who gathered at the frontage of the outsource agency, they had not received their tax clearance certificate since 2013 and expressed concerns that all may be lost due to the latest development. Besides, they alleged that they were being owed arrears of pension, leave

N153

The average price of Premium Motor Spirit (Petrol) of Kebbi State in July 2016. Source: National Bureau of Statistics

L-R: President, Nigerian Institute of Town Planners, Lagos state Chapter, Mr. Anifowoshe Abiola; Guest Speaker, Hon. Bamidele Opeyemi and Past President, Mr. Remi Makinde presenting an award to the Guest Speaker at the Institute's 2016 Lecture/Annual General Meeting/ Election in Lagos.

tal loss of contact between them and the company. He said: "They asked us to submit property in our care but the letter they gave us said once we do that, the company no longer owes us. They have not paid our pension for one year although they never failed to deduct it from our salaries every month; they have not paid September salary."

Umahi tells CBN to resist pressure on banned 41 items Abdulwahab Isa Abuja

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bonyi State Governor, Engr. David Umahi, has urged the management of Central Bank of Nigeria( CBN) to be resolute and resist the pressure to reverse its decision on banned 41 items on importation list. The governor also added that instead of agonizing over the current economic recession, Nigerians should explore hidden opportunities offered by the recession. The governor shared his views on the state of economy while interacting with members of Finance Correspondents Association of Nigeria(FICAN) and Business Editors, who

Sola Adeyemo Ibadan

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hairman of the Christian Association of Nigeria (CAN), Ibadan North-East Local Government chapter in Oyo State, Apostle Sunday Oladiti, yesterday observed the lopsidedness in the various appointments made by President Muhamma-

FRSC issues 2800 tickets to vehicles over speed limiting device

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allowances and salary while a migration allegedly promised them at the end of the contract job had not been fulfilled. Spokesman for the workers, Fatai Jinadu, told newsmen that they were asked to submit all company documents in their care at the end of September but there were fears that if the directive was obeyed, it could lead to to-

were in the state for capacity building organized by Central Bank of Nigeria(CBN). He commended the banking watchdog for it several policies designed to shield the economy against external and internal shocks. "I believe strongly that you are doing the right thing. It not about the president. It's about all of us. If this county should get back to its feet, we must all rise up. No country can help us; if Nigeria should wake up, the whole world will hear us. I went to China recently. One of the reasons for the China trip was to attract irrigation. In a couple of weeks, I have to construct one myself. Nobody will transfer technology to you.

Buhari's appointments lopsided in favour of North, Oyo CAN boss

PHOTO: GODWIN IREKHE

he Corps Marshal of the Federal Road Safety Corps, Boboye Oyeyemi, yesterday expressed satisfaction with the advisory enforcement of speed limiting device nationwide, as 2,800 commercial vehicles were issued tickets on take off. According to Bisi Kazeem, Head Media Relations and Strategy, FRSC, Oyeyemi said that the enforcement was not to inflict pain on motorists and road users rather than for commercial vehicle owners to voluntarily imbibe the culture of its usage and key into it. Kazeem said the advisory enforcement was a sort of subtle force that entails stopping commercial vehicles, verifying

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electronically whether the devise is fixed and giving citation to offenders for corrective purposes. “The exercise is also known as free safety checks. In the coming days, the leadership of the organized transport unions such as NURTW, NUPENG PTD, NARTO, RTEAN LUBOAN shall be involved in the advisory enforcement by joining FRSC top officers to patrol”, he said. He therefore advised commercial vehicle operators to continually patronize the devise as there was no going back on its full and real enforcement come January 2017. Army in to hand over

6 foreigners to NIS The Nigerian Army says it plans to hand over six foreigners who were arrested in the course of its anti-terrorism war, to the Nigeria Immigration Service, for deportation. Brig.-Gen. Victor Ezugwu, the General Officer Commanding (GOC) 7 division of the Nigerian Army, stated this while speaking with newsmen in Maiduguri yesterday. Ezugwu said that the foreigners were among suspects arrested at various raids in Boko Haram terrorists camps, but were cleared of affiliation with the group. He said that the suspects had been found to have entered the country illegally.

Dubai asset: CCB's clearance vindicates Buratai's, says lawyer Tunde Oyesina Abuja

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lawyer and rights activist, Ugochukwu Osuagwu, yesterday said that the issuance of the certificate of assets verification and clearance to the Chief of Army Staff (COAS), Lt. General Tukur Buratai by the Code of Conduct Bureau (CCB) has put to rest the controversy over his alleged acquisition of property in Dubai, United Arab Emirate (UAE). Osuagwu had championed the call for the verification of Buratai's assets by the CCB.

Commenting on the Bureau's reports, Osuagwu noted that the issuance of the verification certificate to him implied that Buratai has complied with all known laws in the country as regard assets declaration by public officers and is exempted from any liability of criminal prosecution. The Bureau had on last Thursday in a statement by its Chairman, Sam Saba named Buratai among 15 public officers, whose assets had been verified and issued with the “certificate of conference verification and filed verification.”

du Buhari, noting that it had been tilting so much towards the Northern part of the country. Oladiti said this at the 2016 National Day Prayer Crusade organised to pray for the revival of the nation's economy in this period of recession. According to him:"We observe that political appointments at the federal level favour only the Northern part of Nigeria, but, we are of the opinion that only justice, fairness and equity can bring peace and development in Nigeria". He suggested that the Federal Government must ensure that every part of the country was involved in governance to engender sense of belonging, noting that, "the body language of the President tends toward favouring one religion in Nigeria, a posture described as unhealthy for the country's young democracy". He expressed worries about the incessant killings of Christians in the Northern part of the country and appealed to the Federal Government to investigate the dastardly acts and punish the offenders towards stopping the killing of innocent souls.”


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NEWS | south-west

Sola Adeyemo Ibadan

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yo State Governor, Senator Abiola Ajimobi, has disclosed that his administration decided to reduce subvention into tertiary institutions in the state from 100 per cent to 25 per cent due to the

Why we can’t fund tertiary Ondo poll: APC kicks against Akeredolu’s institutions, by Ajimobi running mate dwindling resources with a view to making the institutions' managements to be more creative. The governor made this

PUBLIC NOTICE

PRAYER THEATRE INTERNATIONAL MINISTRY

This is to inform the general public that the above named ASSOCIATION has applied to the Corporate Affairs Commission for registration under PART “C” of the companies and Allied Matters Act. 2004. The Trustees are: 1. Ameh James - President 2. Ajayi Modupe Grace 3. Dr Aliche Kingsley Onyekachi 4. Odewale Roseline Adunola - Secretary 5. Ojo Oduntan Olumide 6. Abah Musa Gowon 7. Abah Juliana Ele 8. Atu Okechukwu Timothy AIM AND OBJECTIVE ARE: 1. To preach the gospel of Jesus Christ. 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: FIRST BETHEL SOLICITORS, 27 ABEOKUTA ROAD AGO TAYLOR IBADAN

PUBLIC NOTICE

SPRING VALLEY ESTATE RESIDENTS ASSOCIATION, LEKKI, LAGOS

This is to inform the general public that the above named association has applied to the Corporate Affairs Commission, Abuja for registration under part C of the Companies and Allied Matters Act of 2004. The Trustees are: 1. Mr. Alex Omofomah 2. Mr. Omololu Ajayi

3. Mr. Adesoji Azeez

AIMS AND OBJECTIVES ARE: 1. To foster and encourage co-operation among residents. 2. To promote and protect the security and general welfare of its members. 3. To contribute and enhance the social and economic development of the estate and its members 4. To inculcate into members the act of peaceful co-existence,honesty and charity. 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:

KANMI OLALEYE CHAMBERS (Solicitors.) Tel: 08078049396

PUBLIC NOTICE

ASSOCIATION FOR PROGRESS OF LAGOS INDIGENES

This is to inform the general public that the above named association has applied to the Corporate Affairs Commission, Abuja for registration under part C of Companies and Allied Matters Act,2004. The Trustees are: 1. Mr. Nawairudeen Idowu 2. Mr. Adewale Kosoko 3. Mr. Jimoh O. Oseni AIMS AND OBJECTIVES ARE: 1. To see to the day to day progress of Lagos indigenes 2. To support , promote and contribute to the social, economic and educational advancement of Lagos Indigenes 3. To promote and protect the general welfare of Lagos Indigenes. 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:

KANMI OLALEYE CHAMBERS (Solicitors) Tel:0807804939

PUBLIC NOTICE

THE EKU COMMUNITY CHRISTIAN WOMEN ORGANISATION, NO 17, FIRST URHUSI STRET, EKU, DELTA STATE

This is to inform the general public that the above named organization has applied to the Corporate Affairs Commission, Abuja for registration under Part “C” of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Revd. Col Jackson Okeremute Oyibu 3. Chief Dr. Ode Iweh

monday, october 3, 2016 NEW TELEGRAPH

2. Chief Godwin Aganbi

AIMS AND OBJECTIVES ARE: 1. Promoting the awareness and acceptance of the need for good education and/or acquisition of skills by the Eku girl-child/women, before getting involved in marriage and planned parenthood b. Ensuring that the Eku Community girl-child/woman benefits from all Delta State Government/Ethiope Local Government Authority programmes of skill acquisition and welfare for youths in the state. c. Networking with other agencies to ensure the socio-cultural/economic development and general welfare of the Eku community girl-child/womanhood d. Promoting human right/privileges/welfare of the girl-child/womanhood in the Eku community in particular, and Delta State in general. 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: LAWRENCE ONORIODE OYIBU ESQ.

disclosure at the weekend in Oyo during dedication of a multi-million naira Vice Chancellor's Lodge donated to the Ajayi Crowder University (ACU), Oyo, by a legal luminary, Chief Wole Olanipekun (SAN). In attendance were several dignitaries including the Alaafin of Oyo, Oba Lamidi Olayiwola Adeyemi III; the Bishop of Lagos, Most Reverend Dr. Adebola Ademowo; Emeritus Professor Ayo Banjo; the VC of ACU, Professor Dapo Asaju and other dignitaries. Oyo State had last week announced the stoppage of subventions to all stateowned tertiary institutions to their chief executives in a circular letter entitled "Stoppage of Subvention." The letter stated that the institutions should no longer expect subventions whether for any arrears, current or future expenses from the government. Having lauded Olanipekun, ex-President of the Nigerian Bar Association (NBA) and the ProChancellor of the ACU, for yet another enviable donation just like he had done when he was in the same position at the University of Ibadan, Ajimobi explained that the way to

go for better funding and management of education generally was for all stakeholders including parents, philanthropists and the private sector to participate for the betterment of our children. Ajimobi said: "Looking at the economic situation of the country and in the whole world, we have dwindling oil revenue. It has affected virtually all aspects of our socio-economic life and we are unable to really cope. Therefore, we believe that apart from the dwindling resources, all Nigerians must participate in education. Education is participatory. It is not for the government alone to pay for education. We believe that parents, teachers, everybody must participate. What we are witnessing here today for me, exemplifies our belief in participatory education. Here is an individual, a great Nigerian, an accomplished legal luminary who on his own has built several institutions. In the University of Ibadan, he built the Law Library. He is replicating something similar at Ajayi Crowder University where he has donated the VC Lodge. Nigerians must copy this man."

Ambode, Shettima, others for NGE secretariat’s inauguration Mojeed Alabi

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overnors Kashim Shettima and Akinwunmi Ambode of Borno and Lagos states are special guests of honour at the inauguration of the official secretariat of the Nigerian Guild of Editors (NGE), the highest professional body of the Nigerian editors in the print, electronic and online media. The inauguration, scheduled to hold at the Ikeja, Lagos office of the Guild, would also have in attendance the Minister of Information and Culture, Alhaji Lai Mohammed and the immediate past governor of Delta State, Dr. Emmanuel Uduaghan. The secretariat, which is coming more than 50 years after the formation of the

change OF NAME

Olaposi

I, formerly known and addressed as Okunola Adebanjo Olayioye now wish to be known and addressed as Okunola Lawrence Olaposi. All former documents remain valid. General public should take note.

Ogundijo

I, formerly known and addressed as Oyeleke Mohammed Gboyega now wish to be known and addressed as Ogundijo Mohammed Gboyega. All former documents remain valid. Banks and general public should take note.

group, will according to its National Publicity Secretary, Ken Ugbechie, serve as the NGE permanent office. Ugbeche, in a statement issued yesterday, said Uduaghan played a prominent role during the fund-raiser for the secretariat, and will, therefore, chair the occasion, which will also have in attendance other dignitaries including captains of industry, public office holders as well as professionals and businessmen and women. It will be recalled that in April 2014, the Guild organised a fund-raiser for the building of a befitting secretariat. According to the President of the Guild, Mrs. Funke Egbemode, the acquisition of a secretariat for the Guild is a milestone in the history of the highest professional body in Nigerian journalism,” the statement reads in part. It added that Egbemode specifically thanked the past leaders of the Guild for their vision and working hard to realise the dream of a permanent office for the noble group, and enjoined all past presidents of the Guild, Fellows and members to turn out en masse to grace the epochal occasion.

Babatope Okeowo Akure

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lthough its leadership was yet to resolve disaffection generated by the choice produced at its governorship primary election, another crisis is brewering in the Ondo All Progressive Congress (APC). Some leaders are already kicking against the choice of the party’s governorship candidate’s running mate, Hon Agboola Ajayi barely sixweek to the governorship in the state. Ajayi is to run with Mr. Rotimi Akeredolu SAN in the next month governorship election. The leaders including Hon Bola Ilori and Chief Samuel Ikujuni said the choice of Ajayi as Akerdolu’s running mate would further dim the party’s chance of winning the governorship election should the leadership fail to substitute his name before a deadline allowed by the Independent National Electoral Commission (INEC). This development worsened the crisis rocking the party over the choice of Akeredolu as the candidate of the party. For instance, Ilori said “even when the NWC just

upheld the fraudulent primaries that produced Aketi, the nexus of fraud in the party is trying to perpetrate another fraud to enforce the initial fraud. “And while we are still on the fraudulent primaries through fake delegates and delegates’ list padding, that produced Bar Akeredolu as the candidate, another fraud is also being foisted on the party as the Deputy Governor. This is a man whose election was annulled by the courts for certificate forgery. Why do this people hate Ondo state APC this much, why would they cut their nose to spite their face just because of hatred for Tinubu? Why must they be jumping from one fraud to another? From delegates’ list padding to NWC decision padding to now certificate padding, loan padding” Ikujuni in his statement said Ajayi should not be allowed as the running mate because he is from Kiribo in Eseodo Local Government, the same town and Council Area of the mother of Akeredolu. According to him, it would be another crisis if two brothers were allowed to be the Governorship and Deputy Governorship candidates of the APC.

...PDP candidate, Jegede warns against rigging Babatope Okeowo Akure

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overnorship candidate of the Peoples Democratic Party, (PDP) in Ondo state, Mr. Eyitayo Jegede SAN has warned against manipulation of election results in the November 26 gubernatorial election in the state. In apparent reference to the governorship election in Edo State, Jegede said the PDP and voters would do everything within the ambit of the law to protect the votes given to him and the party by the electorate, expressing confidence that his party would win the forthcoming poll with very wide margin. Speaking at the weekend during the road show organised by the leadership of the party after the Independent National Electoral Commission (INEC) pasted his name as the authentic candidate of the PDP in Akure, Jegede said the crowd that came out to honour him testified to it that the party had made a popular choice for the poll.

Jegede said: “Happening today is a confirmation of what we all know that I am the only candidate of the PDP and the fact that PDP's candidate has generated some form of interest because I won't call it dispute, also confirmed to me that PDP is a party to beat. "Otherwise, nobody will show interest. I wonder why everybody is interested in PDP's candidate. There was a transparent primary here in Akure, commenced in the morning, concluded in a little bit late in the afternoon or evening, and a winner emerged and that was myself." "INEC officials both from Akure and Abuja were present, security agents were also there and it was opened for all to see and that to me, was a confirmation that what we have done was transparent and lawful. "Look at the level of support demonstrated by the people both young and old and I am excited by this affirmation and confirmation of friendship by the people who represents voters in Ondo State."


monDAY, OCTOBER 3, 2016 NEW TELEGRAPH

South-EAST

Bishop condemns attack on priests Emmanuel Ndukuba Awka

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he Catholic Bishop of Awka Diocese, Most Rev. Paulinus Ezeokafor, has described the attack on three Catholic priests by suspected herdsmen in Enugu as unfortunate and saddening. It will be recalled that three Catholic priests were on September 26, attacked by suspected Fulani herdsmen in Akachine, Nsukka Local Government Area of Enugu State on their way from a condolence visit. The attack left one of them, Rev Fr. Jude Chet-

anna Chukwuneke (who was driving) with bullet wounds in the head, while the second cleric, Rev. Fr Jude Ezeokana, sustained injuries after their car fell into a ditch. The last one, Rev. Fr Emmanuel Dim, who was initially kidnapped, was however, released two days later. Ezeokafor while addressing newsmen in Awka yesterday condemned the attack and called on President Muhammadu Buhari and Governor Ifeanyi Ugwuanyi to urgently look into the security situation in the aforementioned areas. The Bishop while noting that the Fulani herdsmen had been a thorn in the flesh of the people of

the South-East geopolitical zone urged the Federal Government to come up with clear cut plans to curtail their excesses. He said, “Women are being raped and intimidated. Innocent Nigerians are being slaughtered on daily basis by this same people. Why would they allow them to be unleashing terror on the people? Our priests are being attacked, harassed and embarrassed by Fulani herdsmen.“We are not happy at all. The same issue was discussed at our last meeting of Catholic Bishops’ Conference of Nigeria. Please, let’s support them in prayers and let our voices echo for justice.”

Enugu to take over property used by kidnappers

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nugu State Commissioner for Information, Dr Godwin Udeuhele, has revealed plans by the government to amend its criminal code to provide for the seizure of any property used as a hideout by kidnappers as a way of curbing their activities. Udeuhele while briefing newsmen on Saturday in Enugu on the outcome of the state executive council meeting, said the Attorney-General and Commisioner for Justice has been empowered to forward an amendment bill of the state’s criminal law to the legislature. He said: “Approval was given to the amendment of

Section 315 of the Criminal Code Law, 2004 of Enugu State that was amended in 2009. The latest amendment provides for additional punishment of demolishing buildings used in the imprisonment of kidnap victims in order to deter kidnappers and their accomplices from this nefarious act. “If kidnap victims are traced to a building and you are found guilty upon determination of the case, such building will be demolished and government takes over the piece of land. No compensation,” he said. The commissioner said that the move would

make developers to be more conscious of their uncompleted projects, which unknown to them, could easily be turned to a den of kidnappers. “If you built your house and left it porous for kidnappers or connive with them to use such buildings to hide their victims and you are found guilty, government pulls it down and takes over,” he said. Udeuhele said that approval was also given for the upgrade of the Institute of Management and Technology (IMT), Enugu, to a multi-campus and degree-awarding institution to meet the socio-political and economic needs of the state.

Hold your peace, Umahi tells ASUU Uchenna Inya ABAKALIKI

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bonyi State Governor, Chief Dave Umahi, has urged the state’s university chapter of the Academic Staff Union of University (EBSU) to allow him conclude his visitation to the university before leveling any allegation against him. EBSU-ASUU had in a press briefing alleged that the state government has refused to come up with a gazette on the university staff, release their professorial promotion for three years and continue to cut down monthly subvention

of the school. They also threatened to embark on strike to press home their demands. But reacting to the allegations in an interactive session, Governor Umahi assured the ASUU members that he has not stopped the promotion of the lecturers of the university and gazetting of the staff. He said: “When the economy was booming and very good, they didn’t talk about gazetting, they did not. Now we are in recession, they are talking about gazetting. Let them please hold their peace. When the economy gets better, we will do that

and the first thing to do is to send a bill to the House of Assembly. “We are working on the law but that is not to say we are going to gazette them but when we finish the law, we will put a clause that will allow us to gazette them when the economy improves. “We are appealing to them to allow us conclude what we are doing at the Ebonyi State University.” The students want their school fees reduced and we are committed to this and I believe that with God on our side, we will be able to fulfill this.

Rice millers assure on fall in price Uchenna Inya ABAKALIKI

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he Chair man, Abakaliki Rice Millers Association, Chief Joseph Ununu, has assured consumers of the popular Abakaliki rice of a great price reduction when the economy stabilizes. Ununu while addressing newsmen in his office noted that

there has been a hike in the price of the commodity owing to high demand. He listed economic recession, non-availability of dollars, high cost of farm inputs and others as factors responsible for the high cost of rice. A bushel of rice that contains 100 cups which previously costs between N3,000 and N3,500

was sold at N10,000 early last month but now sold between N6,000 and N6,500. Ununu said the price will still come down further. He noted further that the high price of the commodity which has led to its highcultivation this year by farmers will eventually lead to its availability in the markets next year.

SOUTH-SOUTH

Dickson challenges FG on Brass LNG, others Chris Ejim Yenagoa

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ayelsa State Governor, Seriake Dickson, has called on the Federal Government to expedite action in kick-starting the Brass Liquefied Natural Gas (LNG) project for wealth and job creation to boost the economy of the state and the country. According to him, the completion of the EastWest Road was a necessity as the section of the project in Bayelsa State is in a deplorable state, causing untold hardship and unnecessary carnage on the

road. Dickson spoke in Yenagoa, during a special radio and television interview programme to commemorate the 20th anniversary of the creation of the state and the 56th independence anniversary of the country. While describing the Brass LNG project as highly profitable when completed, Dickson said the time has come when appropriate investments should be made in some critical sectors such as agriculture and the Brass Fertilizer Company that could stimulate the national economy. He, however, acknowledged the efforts of the

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Federal Government in the construction of some ongoing projects in the state such as a branch of the Central Bank of Nigeria and the federal secretariat, but stressed the need for more intervention in the areas of road construction to open up the state. The governor said the greatest challenge facing the state was that of accessibility to the Atlantic Ocean, where most of the crude oil terminals are situated. He said the construction of the three senatorial roads would not only boost agro-business, but that it would also assist in securing critical national assets.

Contestants at the 2016 Miss Bikini show at the Amateur Bodybuilding and Fitness Show in Port Harcourt …yesterday. PHOTO: NAN

Emmanuel advocates healthy GDP for Nigeria Tony Anichebe Uyo

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s Nigeria marks her 56th independence anniversary, Akwa Ibom State Governor, Udom Emmanuel, at the weekend advocated for the institutionalisation of a viable economic framework that would grow the economy and sustain the people. Governor Emmanuel made the call while fielding questions from newsmen at the Ibom International

Airport on his arrival from an official trip to China. He said the desire for a robust economy is on the front burner of every citizen in the country given the economic challenges confronting the nation and that Nigeria has not fared well even in her 56 years of existence. According to him, “The planners jettisoned priorities to other non-sectors of the economy such as agriculture, to generate wealth by exporting the produce rather than im-

porting finished products from other countries only to complain of the flexible window of the exchange rate and unemployment in the country.” Emmanuel therefore challenged Nigerians to exhibit patriotic zeal towards redeeming the country from its present situation, saying that the lessons gained from the present economic predicament should drive every stakeholder to exploit abundant natural resources to create wealth for sustainability.

Rivers PDP accuses APC, INEC of hijacking Edo voters’ mandate Emmanuel Masha Port Harcourt

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ivers State chapter of the Peoples Democratic Party (PDP) has described the outcome of the governorship election in Edo State as a sham, accusing the All Progressives Congress (APC) and the Independent National Electoral Commission (INEC) of hijacking the people’s mandate. The PDP Chairman in Rivers State, Felix

Obuah, who made the allegation in a statement, said by the result declared by INEC and the actions of the APC during the poll, the two bodies have conspired to short-change the people of the state. He said what transpired in Edo State after the election ended was ‘broad-day robbery,’ adding that it has exposed the APC’s new election rigging strategy. According to him, “The APC, despite per-

fecting its rigging strategy, cannot try out such in Rivers State during the forthcoming National Assembly rerun election. “We sympathise with Edo people whose mandate has been misappropriated in an APCcontrolled government devoid of democratic ideals and practice. “It is unfortunate that the true democracy Nigerians yearned for has now been denied and not allowed to succeed,” he said.


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METRO

Lovers steal ATM card, withdraw N300,000

Juliana Francis

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wo lovers, Bamigboye Imoleayo (24) and her lover, Adeyinka Ayodele, have allegedly stole an Automated Teller Machine (ATM) card, withdrew N300,000 from the account and went on a spending spree. Imoleayo and Ayodele, now in the custody of the Rapid Response Squad (RRS), Ikeja, Lagos State, reportedly stole the ATM card belonging to Musa Alli. The lovers used the money to buy phones and clothes. They were arrested along with two of Ayodele’s friends, who also used the ATM card to withdraw some money. Imoleayo was arrested at a club in Surulere area of Lagos. She was later used as a bait to catch Ayodele and his two friends at Itori, a community in Ogun State. According to the police, Imoleayo stole the phone after a customer, Alli, whom she met at the club and chatted with, fell asleep. Imoleayo confessed to have stolen Alli’s ATM card when he fell asleep during their conversation at the club. She said: “I managed to steal the card when Musa dozed off

Imoleayo (second right) and other suspects

during our conversation. Initially, I had spied and memoriesed his Personal Identification Number (PIN) when he was sending money to his colleague via mobile app. I committed this offence because I was desperate to re-stock my shop at Wasimi Market, Ogun State. I also did it to take care of my only daughter. I never had a rethink while

committing the crime.” Imoleayo also narrated how she and lover withdrew and expended funds from the ATM. She added: “I intended to withdraw only N20,000 out of his bank account and then destroyed the card, but I checked his account balance and was shocked at the amount I saw. Afterwards, I withdrew an-

other N70,000, making N90,000 that day.” Imoleayo said that the following day, she called her boyfriend, who instructed her not to destroy the card. Ayodele told her to come straight to Itori, Ogun State, where he resides. When she got to Itori, Ayodele called two of his friends, Abimbola Akintanna and Owolabi

monDAY, OCTOBER 3, 2016 NEW TELEGRAPH

Bamidele, to use the ATM at any nearest bank. Alli gave account of what transpired. He said: “I thought I had misplaced the card not knowing that the lady had stolen it and thereafter memorised my PIN. I was shocked on Saturday afternoon to receive debit alerts amounting to N90,000 withdrawals. While I was still contemplating on how to deal with the issue, I got another debit alert for buying two Infinix phones totalling N84,000. I was confused. I didn’t know what action to take on a Saturday evening. “On Sunday, there was another debit. I lodged a complaint on Monday morning at my bank. I was told that the withdrawals and shopping were legitimately made by me. I reported the incident at the RRS office on Monday after informing my bank. It was unbelievable for me when I came face to face with the suspect. It was the lady I met at the club. She explained everything.” The victim added that the suspects took the card to a shopping mall in Abeokuta where they bought phones and clothes. Imoleayo said: “The following day, we went straight to Abeokuta to use the card. We thought by going far to Ogun State, nobody could trace us. We bought two android phones for N84,000 at a phone store. We proceeded to a boutique where four of us bought clothes worth N126,000. I recharged my phone with another N2,500 worth of recharge card. The money spent from the account was over N300,000.” Two android phones, eight pairs of trousers and shirts were recovered from the suspects during a search of their residents.

No regrets posing as lawyer, says 66-year-old man Taiwo Jimoh

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66-year-old man, once arrested for parading himself as a lawyer, has been apprehended for pretending to be a member of the silk. This time, however, he told the police stoically that he had committed no crime. The suspect, Jones Kayode, a school certificate holder, said that he started posing as a lawyer after he was sacked from his former place of work for stealing a wall clock. Kayode was apprehended at the Cathedral Church of Christ, Marina, Lagos, during the Legal Year celebration of the Nigeria Bar Association (NBA) on Tuesday. He said: “I don’t feel bad. I have not done anything wrong. Section 22, Sub-section 2 of the Lagos State Legal Practitioners Act 2004 reads that no proceeding shall commence after three years against someone. I have been doing this since 2013, and as

a result of that, I have not committed any offence. Some court officials assisted me in procuring the gown, wig and some other necessary documents. I have appeared in court four times.” The state Commissioner of Police, Mr. Fatai Owoseni, said Kayode wore lawyer’s gown and wig and sat in the auditorium of the church, participating in the Legal Year celebration like a genuine lawyer. He was sighted by a lawyer who knew him as fake. The man, who saw Kayode, blew the whistle on him. He was led out of the event by policemen. A police source said: “This man has once been arrested for impersonation. He was taken to the police station. The lawyer, who got him arrested, was the same lawyer that got him arrested the first time. He was cautioned and allowed to go the first time by the police because of his age. Now, I don’t think he would be allowed to go.

He is going to be charged for impersonation.” But Kayode said he started going to court to represent himself after he was sacked by his former employer for stealing a wall clock. He said: “I been to court for about four times, but during this period, I never represented anybody. I only went there to defend myself as a lawyer. I read in the law book that someone can represent himself. I don’t have enough qualification. The only certificate I have is ‘A level’ and some professional certificates. “I was at the Legal Year celebration of the Nigeria Bar Association

Kayode

(NBA), at the Cathedral Church, Marina, when I

was arrested by the police. I was sitting in the

Passengers escape death as buses collide Taiwo Jimoh

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ome passengers from Ibadan on their way to Akure, the Ondo State capital, yesterday escaped death by a whisker after the vehicle in which they were travelling collided

with another bus. Although the passengers did not die, many of them sustained varying degrees of injury. The victims, mostly businesswomen, were said to have left Ibadan after trading and were return-

ing to Akure when their mini-space wagon had a head-on collision with a bus belonging to a transport company. One of the victims, Mr. Sunny Basikoro, said they left Ibadan early and were on their way to Akure

church when the former chairman of the NBA saw me and called policemen. “The first time I was arrested, the Divisional Police Officer (DPO) of the station said they released me because I was old enough to be their father. They, however, warned me sternly. After the policemen freed me, the former NBA chairman also warned me. He said that I should not go to Ikeja High Court again. He said that whatever happened to me, I should carry my cross. I’m not impersonating anybody. The law says I can represent myself in the court and that is exactly what I was doing. It was on that ground that I started going to court to represent myself and some clients who invited me.” when the Cross Country bus coming from Edo State collided with them. He said: “It was some Good Samaritans who were driving through the route that came to our rescue before the arrival of the officials of the Federal Road Safety Commission (FRSC) who took us to the hospital.”


MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

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NEWS | north

monday, october 3, 2016 NEW TELEGRAPH

Saudi's investments in Nigeria too low –Tambuwal

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okoto State Gover nor, Aminu Tambuwal, has decried the low level of investment of Saudi businessmen in the state and Nigeria in general. Tambuwal spoke at the weekend in Sokoto when the Consul-General of the Royal ConsulateGeneral of Saudi Arabia, Majed bn. Mohammad Al-Qhatani, paid him a

courtesy visit. Tambuwal said: “Saudi businessmen were rather going to countries like Ghana, Burkina Faso and other African nations. “Sokoto State and Nigeria badly need such investments from the Saudi business moguls. “They should come to Nigeria and the state in particular and establish full value chain agro-

allied firms. “These companies can process food products and export same to their nation and other parts of the world.” Tambuwal further called for the purchase of sacrificial animals by the Saudi government during the annual hajj exercise. The governor commended the Saudi government for annually awarding scholarship

200,000 children suffer malaria attack in Plateau Musa Pam Jos

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ounder and President, Dachung Musa Bagos Foundation, Plateau State, Hon. Dachung Bagos, yesterday said more than 200, 000 children have been attacked by malaria in rural communities of the state. According to him, malaria was one of the most deadly killers of children and pregnant women in rural communities of the state and there was the need for immediate intervention by both the

federal and the state governments to combat it. Bagos stated this in Vwang District, Jos South Local Government Area of the state when his foundation conducted free test and treatment for patients suffering from malaria and high blood pressure for 2,000 people across Vwang District as well as Internally Displaced Persons (IDPs) from villages of Jol, Rim, Bachit of Riyom Local Government Area to mark the country’s 56th independence celebration. Bagos said the founda-

tion had work in collaboration with the Emir of Wase towards eradicating malaria in rural communities of the state through effective partnership with Roll-Back Malaria and other NGOs, government as well as high-spirited individuals. He said he picked the health aspect to demonstrate to the people how vital enjoying good health is and the benefits derivable therefrom by saying “healthy people are productive people, but unhealthy persons are unproductive people.”

grants to indigenes of the state to study in its universities. Tambuwal further lauded the Consul-General for the provision of speedy consular services for main hajj and the lesser hajj exercises. “A high-powered delegation from the state will soon visit Saudi Arabia. Part of the discussions will be the increase in the scholarship slots to the in-

Abubakar Abdul Birnin Kbbi

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ebbi State Governor, Abubakar Atiku Bagudu, has said the state would not relent in its agricultural activities as it is posed to be the hub of rice production in the country. He stated this during his Independence Day broadcast at the Gover nment House, Birnin Kebbi. He said Kebbi, the state capital, at present was providing technical support to over nine states in the country on agricultural practice and rice production in order to actualise the Federal Government’s policy on diversification of

the country’s economy through agriculture. He said: “Already, we had agreement on agricultural produce with the Lagos State Government now we are dealing with other nine states and we are expecting a bumper harvest in rice and wheat from many of our local government areas.” The governor added that the state was ready to unleash its potentials rather than relying on the Federal Government for its needs. “Despite the down turn in the economy, we are still conducting government businesses to actualise reforms that are going on in the state to make government serve the people better,” he said.

Biodun Oyeleye Ilorin

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he Vice-Chancellor of Landmark University, Omu-Aran, Kwara State, Prof. Aize Obayan, said the institution was collaborating with agricultural farms across Africa with the aim of boosting food production in Nigeria. Obayan made this disclosure at a press confer-

Niger gov’s wife tasks stakeholders on neo-natal hospital Dan Atori MINNA

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ife of the Niger State Governor, Dr. Amina Sani Bello, has called on relevant stakeholders in the state to do everything possible to meet up with the deadline for the completion and smooth running of the neonatal hospital in Minna. She made the appeal yesterday when she visited the hospital, where he lauded the efforts of the state government, describing it as a job well

3.3m

The total population of Melanesia in 1970. Source: Un.org

lier congratulated Nigerians on the occasion of the country's 56th independence anniversary. The envoy noted that Saudi Arabia had last week successfully celebrated its 85th national day. The consul-general promised to continue to work to sustain the existing cordial relationship between Sokoto State, Nigeria and Saudi Arabia.

Landmark varsity partners S'Africa, others to boost food output

Some of the cleared Boko Haram suspects women, during their handing over to the governor for rehabilitation and reintegration in Borno… at the weekend.

Bagudu harps on agric development in Kebbi

digenes of the state. “They will also centre on increasing the slots of the participants of the annual Long Vocation Islamic Education Course organised by Saudi Arabia,” he averred. Tambuwal promised to work tirelessly to boost the existing cordial relationship between Saudi Arabia, Sokoto State and Nigeria. Mohammed had ear-

done. Meanwhile, the Emir of Minna, Alhaji Umar Farouk Bahago, has called on Nigerians to support efforts to reduce the rise of maternal mortality. The royal father while assuring stakeholders of his support when the White Ribbon Alliance paid him a courtesy visit in his palace said the state government had intensified efforts at employing more medical personnel for better health service delivery in the state. He commended the governor's wife for introducing and distributing 'Mama Kit' to women in the state, assuring that he will support the activities of the group.

ence in Omu-Aran during the 62nd birthday of the Chancellor and Founder of the university, Dr. David Oyedepo. She listed the collaborating farms to include Shonga Farms, Kwara State, Songhai Farms, Benin Republic and Elpassso Farms, Pretoria, South- Africa. The Landmark boss justified such engagements on the understanding that the harsh economic situation in the country had made urgent intervention from agricultural sector necessary in a bid to transit from being an import-based economy to becoming a desirable, export-driven one. She said: “We are unrelenting in championing the crusade of awareness that agriculture is not just about farming; it is about the entire value chain, which is impressively gaining ground. It is capable of turning people, particularly the youths, into agricultural entrepreneurs. "Undeniably, the global economic downturn occasioned by the fall in crude oil price is taking toll on Nigeria. We are convinced that attaining success in the agri-

cultural sector would reduce food importation that fuels domestic inflation and depletes foreign reserves. “Wisdom therefore demands that agricultural products should be used as input for our own home-made products so that we can export finished products. According to a World Bank projection, about 100 million young people will be joining the labour queue by 2035. “This is an awful picture of a nation with lesser job opportunities, which implies that there would be no jobs outside agriculture to meet the employment needs of these people. Experts agree that the next gold pool of jobs would be in agriculture and services sector of the economy. “As an importing nation that needs dollar reserves to support her import needs, Nigeria’s reserves keep depleting as world oil price declines. “To stop bleeding the external reserves, the Central Bank of Nigeria has urged Nigerians to begin to process raw materials so as to get more value and earn more foreign exchange.”

Al-Makura commiserates with police over DCP’s death Cheke Emmanuel LAFIA

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asarawa State Governor, Tanko Al-Makura, at the weekend, condoled with the state police command over the death of Deputy Commissioner of Police (DCP), Usman Longlong. Longlong, the DCP Operations, Nasarawa State command, died on Saturday night in Lafia, after a brief illness. Al-Makura in a statement signed by his media aide, Ahmed Tukur, expressed shock when he received the tragic news

of Longlong’s death, saying his departure was a great loss to the state and the nation at large. While commiserating with the immediate family of the late police boss and the police community over the loss of ‘this vibrant officer,’ Governor Al-Makura described the deceased as a committed officer, who he said contributed immensely to the peace and development of Nasarawa State. The governor said ‘as we mourned his demise, we should offer thanks to the Almighty Allah for his life of service to God and humanity.’


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MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

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Sport

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Real Madrid sold 50,000 James Rodriguez jerseys in one day. Juventus sold 0 (zero) Bendtner jersey in one season

Kalu hails champions Rangers

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Holy, Holy Rangers! Flying Antelopes win NPFL title after 32 years

Adekunle Salami and Charles Ogundiya ENUGU

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angers Sunday were crowned champions of Nigeria after a 32-year wait as they defeated El Kanemi Warriors 4-0 at home to finish top of the table on the final day of the season. ‘The Flying Antelope’ finished on 63 points from 36 matches, three points

ahead of runners-up Rivers United. Imama Amapakabo’s men could have emerged champions after defeating Ikorodu United in Abeokuta last week but they had to wait till the last game after Rivers United played a goalless draw versus Abia Warriors in Port Harcourt. Both teams will represent Nigeria in next year’s CAF champions League, while third-placed Wikki Tourists, who defeated Sunshine Stars 2-0, will feature in the CAF confederation Cup. Chisom Egbuchulam fired a hat-

Wallop El-Kamemi

trick to propel his club into the history books. He stepped forward to give his team the lead after just three minutes from the penalty spot after an El Kanemi defender handled a Bobby Clement's shot inside his box. Osas Okoro doubled the lead with a clinical finish after receiving a pass from Obinna Nwobodo in the 42nd minute. Egbuchulam scored his brace in the 64th with the best goal of the day before he completed his hat-trick in stoppage time again from the penalty

NPLF Results 2-0 Nasarawa Lobi 2-1 Shooting Abia Wolves 1-0 Ikorodu mi Rangers 4-0 El-Kane bah yiU an Ife -0 1 MFM es do na Tor Pillars 1-1 ers Riv 1-2 Akwa 2-0 Sunshine Wikki

Rangers players celebrating after winning the NPFL title

Mikel: I'm fit, ready for Zambia Ajibade Olusesan

Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

© Daily Telegraph Publishing Company Limited

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uper Eagles captain Mikel Obi has allayed fears over his availability for the crucial 2018 FIFA World Cup qualifying match against Zambia in Ndola on October 9, saying he is fully fit for the cracker. Chelsea coach Antonio Conte told a pre-match press conference that the midfielder was suffering from muscular pain but Mikel said in a statement released by the Nigeria Football Federation on Sunday that the report of his injury was false. The skipper said he was ready for Sunday’s cracker at the Levy Nwanawasa Stadium against the Chipolopolo. “I don’t know where the story about my being injured came from. I have no injury. All

the other players and myself are fit and ready and we are determined to start the World Cup race on a winning note,” the press statement quoted Mikel . Players are expected in camp as from Monday with training sessions scheduled for morning and evening each day before departure to Ndola by chartered flight on Friday. Meanwhile, Eagles Manager Gernot Rohr and some of his technical assistants on Sunday landed in the Federal Capital, Abuja ahead of the clash. France –based Rohr, who has now been provided with accommodation in Abuja by the NFF, jetted into town aboard an Air France flight in company with technical assistant Jean Luc Royer and video analyst Nabil Trabelsi.

Mikel

spot after El Kanemi goalkeeper Kazeem Yekeen brought down goal-bound Ifeanyi Egwim. Head coach, Amapakabo, has said he wants to pinch himself severally to be sure the side are champions. Amapakabo who was understandably dumbfounded after the heroic performance said he was excited winning the top-flight title in his first stint as head coach of the Enugu outfit. “It’s unfortunate that the whole season campaign has to end on somehow sad note with the last minute injury on substitute, Ifeanyi Egwim. “However, we are thankful to God that Enugu Rangers are champions of the 2015/16 Nigeria Professional Football League (NPFL). “This glorious performance happened after anxious waiting for a whole 32 years. “The players have been exceptionally wonderful from start to finish and they truly imbibe the catchword campaign ‘believe’. “I’m excited beyond word and need to sleep and wake up as well as pinch myself severally to be sure that what is going on at the moment is not mere dream but reality. “I know we are champions after the hard-fought win at Ikorodu United but I wanted us to be pronounced officially as champions after the final day clash against El Kanemi Warriors. “I’m happy winning the top-flight title in my first stint as coach of Enugu Rangers. “I want to sleep over what is going on right now perhaps when I wake up the celebration will start in full swing,” said the former Enyimba coach to supersport.com.


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Kalu hails champions Rangers

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illar of Sports, Dr. Orji Uzor Kalu, took a lap of honour in his country home following Enugu Rangers' league triumph describing it as one of his happiest moments. Kalu hailed the Flying Antelopes for restoring the team's lost glory and giving their legion of admirers something to hold on to after so many years of missed opportunities. He said : "My love for Rangers is evergreen. They meant everything to many of us in the mid-1970s. A team that was unbeaten for almost two years. They won the hearts of so many Nigerians, not just the Igbo. I am so happy today, I am enjoy-

ing one of my best moments right now. Perhaps many do not know that legendary Shooting Stars sponsor, Chief Lekan Salami, was also a lover of the Flying Antelopes. Sportswriter ,Tunde Osuntolu (Esbee) ,promised to donate his December 1975 salary if they won that year's Champions League." The former Abia State governor who led Enyimba to CAF Champions League glory in 2003 and 2004 respectively advised Rangers' officials to start preparing for the 2017 Champions League immediately in order to assume their rightful position as one of Africa's most supported teams.

Ekweremadu salutes Flying Antelopes Chukwu David ABUJA

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he Deputy President of the Senate, Senator Ike Ekweremadu, yesterday commended the Rangers International Football Club of Enugu for their gallantry and clinching of the Nigeria Football Professional League, NPLF, title in Enugu. According to a press statement by his Special Adviser on Media, Senator Ekweremadu was at the Nnamdi Azikiwe Stadium to cheer the Flying Antelopes during their last match for the season against the El-Kanemi Warriors of Maiduguri, where he noted that Rangers had won some-

thing more than a league title for their teeming supporters across the world. Ekweremadu, who was in the company of the Governor of Enugu State, Rt. Hon. Ifeanyi Ugwuanyi, said: “I want to congratulate the players, the management of Rangers, and indeed the government and good people of Enugu State on this emphatic victory and the reclaim of the league title after a 32-year wait full of disappointments. “Those who know the history of Rangers understand why this great achievement will resonate across the length and breadth of the South East and South South especially, and indeed every part of the nation and the world where you find rangers fans."

Keumian Guy of Rivers vs Okey Odita of Rangers

Feyenoord experience excites NNPC/Shell Cup MVPs Ajibade Olusesan

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ost Valuable Players of the 2016 NNPC/Shell Cup football competition Joseph Ejeh and Kelvin Amadi have expressed gratitude to Shell Petroleum Development Company in Nigeria for a life-time opportunity given to them to hone their skills at Feyernoord Acardemy, Holland. Amadi of Excel School in Port Harcourt, Rivers and Ejeh of FOSLA School in Abuja were selected as the MVPs of the 18th edition of NNPC/Shell Cup and in fulfilment of its promise, the oil company sent the two players to Feyenoord for one week training. The two players said at a reception organised for them in Lagos that the opportunity was a life-transforming one. Amadi said the visit to the Netherlands had changed his orientation about football and also increased his football knowledge “Words can’t express my gratitude to Shell for this rare opportunity. I will forever remain grateful to the organisation,’’ he said. In the same vein, Ejeh lauded the SDPC for the initiative, saying that he would remain committed to his studies and football career. General Manager, External Relations of the SPDC in Nigeria Igo Weli said the company remain committed to grassroots football development. Weli admonished the players to take their education seriously saying that they could combine it with football. “Football and academic excellence

work together and they are not mutually exclusive, so, I expect them to pursue their academics along with their football career,’’ he said. “We believe in Nigeria, we have an ongoing commitment in this and we will try and sustain it. “We have delivered all our promises, this year’s edition was different and there was significant improvement. Also, Tolulope Derin-Adefuwa, who represented the NNPC, said that the trip gave the players the opportunity to increase their knowledge in football.

MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

NPFL table Team P 1 Rangers 36 2 Rivers 36 3 Wikki 36 4 Ifeanyi Ubah 36 5 Lobi Stars 36 6 Sunshine 36 7 Kano Pillars 36 8 El Kanemi 36 9 Enyimba 36 10 Nasarawa 36 11 Tornadoes 36 12 Plateau 36 13 Abia 36 14 Akwa 36 15 Shooting 36 16 MFM 36 17 Wolves 36 18 Heartland 36 19 Ikorodu 36 20 Giwa FC 0

Pts 63 60 57 56 55 53 52 51 50 50 49 49 48 47 47 45 45 44 32 0

Heartland, Wolves relegated, MFM survive

A

bia Warriors and MFM FC maintained their top flight status after winning their respective matches while Warri Wolves and Heartland lost the chances to stay afloat with defeats at the weekend. Abia secured a hardfought 2-1 home win against Shooting Stars in Umuahia while MFM edged out FC IfeanyiUbah 1-0. Stanley Okorom headed in the winner in the 23rd minute for the Olukoya Boys at the Agege Stadium, Lagos. The home side were reduced to 10 men after Ifeanyi Ifeanyi was sent

off in the 33rd minute, prompting heavy protest from the players and their fans. The visitors missed the chance to get back into the game when Cameroonian midfielder, Tamen Medrano, missed a penalty in the 72nd minute. They also had a man sent off two minutes later when Kojo Baah was issued a red card by the centre referee. Abia went ahead in the 17th minute when Stanley Okoro finished a superb team move. Nojeem Olukokun scored the leveller for 3SC in the 64th minute, while Ndifreke Effiong recorded

the winner for the home team seven minutes from time. In Jos, Heartland were relegated for the first time after they were held to a 1-1 draw by home side, Plateau United. Roland Koffi put the Naze Millionaires ahead three minutes before the break but Bright Silas levelled scores for the hosts three minutes after the restart. Warri Wolves were also relegated to the Nigeria National League despite beating Ikorodu United 1-0 at the Warri City Stadium.It was a remarkable decline for a side that finished in the second position last season.

Controversies trail $300,000 Eagles’ flight to Zambia

N

igeria’s chaotic build-up to next Sunday’s World Cup qualifier in Zambia has

L-R: Most Valuable Player in the 2016 NNPC/Shell Cup, Joseph Ejeh of FOSLA Academy Abuja; Representative of the National Petroleum Investment Management Services, Mrs. Tolulope Derin-Adefuwa; and the second MVP in the tournament, Mr. Kevin Amadi... on a visit to the Nigerian embassy in Amsterdam last Wednesday as part of their training tour of The Netherlands.

continued unabated with rumpus over a $300,000 (about 138 million Naira) chartered flight to Ndola further endangering the country's chances. The Super Eagles logistics are already in disarray after a late directive from the Nigeria Football Federation () for coaches and players to pay their way to a training camp in Abuja beginning today. But by far the biggest logistical headache ahead of the World Cup qualifier now is a plan to get a chartered flight for the team to Zambia. The inflated cost of $300,000 and the fact that a company and not the NFF is negotiating the deal have pitched top officials against themselves. AfricanFootball.com was informed that a local airline had been contacted by a company outside the NFF and they negotiated a $300,000 bill for the char-

tered flight. However, aviation industry sources said this flight should not be more than $200,000. “This is a local airline we are talking about so why pay them in US dollars?” questioned a source. “And to think of it, the NFF did not negotiate this $300,000 bill. “To say the least, the signals are very, very disturbing.”The original plan was for the Eagles to depart Abuja on Thursday and get their visas at the point of entry. But now with the possibility that the start of the training camp may be bogged down by the late buy-your-ticket order, it is unclear when they will fly out. However, all that has not stopped top government officials from sending the names of friends, family and cronies who should be on this jamboree.


MONDAY, OCTOBER 3, 2016 NEW TELEGRAPH

47


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First US Gay Governor: Going with a bang… The day he stepped down, New Jersey Governor James McGreevey came out as gay and revealed his adulterous affair with a man. The first and, to date, the only openly gay state governor in US.

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Diversification begins at home Tunji Olaopa

T

here is no doubt that the Buhari administration has a lot on its table; in fact, a lot more than it bargains for. And this is where sincerity kicks into the act of governance: Once we become aware of what is at stake, what then do we do? How ought we to proceed in the careful untangling of the predicament, the creative outlining of the issues, and the disciplined but relentless implementation of rigorously fashioned policies with firm directional compass which requires higher strategic intelligence to craft?

Beginning in early ’60s with the implementation of the First National Development Plan of 1962 – 1968 up until his later life during the Babangida days, Professor Tunji Aboyade worked assiduously with other gifted economists and planners of his time to chart a defined development path for the country so as to be able to produce for local consumption and exports. In addition to his promotion of self-reliance and self-sustainment in his national development policy assignments and engagements, Aboyade also promoted this economic development philosophy in his works. In his words: “On the basis of those reforms, the mechanism of economic growth in post-war Nigeria can then be identified as lying in the simultaneous pursuit of three basic measures as the core of a development planning model. The first prong of the operational strategy is the achievement of increased productivity per man-acre and per man-hour in agriculture and especially in the sector of food and raw material production for domestic consumption, without prejudice to continued benefits from agricultural export. This result needs to be brought about by a higher marginal physical productivity per unit of land-labour input without a fall in the revenue product. Its purpose will be not only to raise agriculture, and hence national income for higher and diversified consumption within the period, but also particularly to create a large social surplus for much needed capital formation. The second element of the growth determinant is to be found in a greater structural shift of resource use towards more manufacturing industries, guided by more disciplined considerations of social profitability. The third, but not the least important, is the powerful stimulus for growth which could come from the maximum possible expansion of petroleum production to generate some of the enormous foreign exchange and government revenue required to sustain the difficult process of reconstruction and development in an under-developed economy that has been overstretched by a long, wasting war” (Aboyade 1971: 35-36). The concern over local content and the reform of locally generated production and consumption has therefore always been at the fore of Nigeria’s development strategies. There has been a recent hype about “Made in Nigeria”. Some christen it “Buy Nigeria to grow the Naira”. Whatever name it is given, the whole idea focuses on changing our consumption and production structure to ensure we as a people and country become a more productive and less consuming economy. The general goal of which is to promote overall inclusive economic growth and development of Nigeria. This is in sync with the economic development philosophy of Professor Aboyade. It is imperative to point out that this current campaign about changing our consumption and production pattern to ensure

Vice President, Yemi Osinbajo

Electricity infrastructure has hindered production increased local production and consumption merely reinvents old abandoned paths. Some of the previous campaigns with similar objectives and focus are: Operation Feed the Nation; Green Revolution; National Orientation Movement; Reconstruction, Reconciliation and Rehabilitation programmes of Nigeria’s post-civil war; and Mass Agency for the Mobilization of Social and Economic Reform. Unfortunately, all these campaign initiatives had no sustained dynamics. They all died off before they were able to become transformative. And so our productive dynamism, lame and epileptic, still has to compete with a strong behavioural dynamics that have been strengthened not only by an energetic global consumerist campaign backstopped by many years of manufacturing and productive excellence elsewhere, and Nigeria’s gross policy failure that is not sufficiently formidable to counter the addictive appeal of global goods and services. Consumerism is a global ideological pattern that thrives on the weak economic base of most developing nations. So, while the citizens are always consuming, rather than saving, they are consuming foreign products and services that put a huge strain on the hard-earned foreign exchange of the country. Immediately after political independence, the Nigerian government had a very high ambition for increasing manufacturing and industrial activities in the country. This was evident by the establishment of major manufacturing firms that include the Oku Iboku and Iwopin pulp and paper mills, Kaduna, Port Harcourt and Warri petrochemical plants, Ikot Abasi aluminum smelter company, Ajaokuta and Aladja steel mills. Added to these were the several textiles, cement, tobacco, beverages, and other similar manufacturing firms across the country that

Minister of Trade, Okey Enelamah were acquired from foreign investors through the indigenization policy. More recently, the Nigerian Industrial Revolution Plan was developed as part of a bigger economic diversification strategy with the aim of resuscitating manufacturing, thus changing the structure of production and consumption for the overall good of the economy. There are several challenges militating against effective evolution of a strong manufacturing sector capable of producing the country’s manufactures needs. Infrastructure tops the chart. Several manufacturers lament the extent to which electricity infrastructure has hindered production and productivity and more so has increased cost of doing business. According to World Bank Enterprise Survey data, over 90 per cent of manufacturers see electricity as the greatest constraint to production in the country. Many also submit that electricity accounts for over 60 per cent of their production costs because of the use of alternative electricity supply through power generators. The challenges retarding domestic production are also legion. First, there is constraint on access to land resulting from the country’s outdated land tenure system. Second is poor public and general perception that locally produced food crops such as rice are of inferior quality. Third, limited access to credit as a result of poor funding through the financial system that prefers to fund traders rather than farmers. Fourth, poor yield as a result of absence of improved seed varieties. Fifth, weak support by the government through R&D and extension services. Sixth, government inconsistent policy signals over the years. Seventh, higher cost of locally produced food commodities as a result of high reliance on subsistent production and high funding costs. Eight, inefficient fertilizer procurement and distribution system, leading to low application. There is the factor of low level of technology which is also a major challenge. World over, technological innovations drive productivity, especially in the manufacturing sector. Such innovative technology reduces cost of production and promotes efficiency and economies of scale. Level of technological innovation is yet low in Nigeria. Hence, manufacturers are sometimes forced to adopt obsolete technology that is very difficult to apply, hard to manage and expensive to maintain.

Then the factor of lending rates in Nigeria which is one of the highest in the world. Lending rates by some deposit money banks are as high as 28 – 30 per cent. Lending at these rates is highly inimical to business development. This explains the reason for the high rate of non-performing loans in the country. The challenge of dumping of substandard imported goods is another issue in focus. This challenge emanates from both push and pull factors. The push factor is mainly the very cheap cost of production in emerging industrial Asian countries. Through state support, low cost of capital, excellent infrastructure and low labour costs, these countries are able to produce at very relatively cheap price. Their search for market to sell their manufactures makes Nigeria attractive based on its large market. The pull factor is driven largely by the attitudinal and psychological issues where there is high penchant for anything foreign. The high appetite for foreign-made manufactures have dramatically increased manufactures imports at the expense of domestic production that are perceived to be of low quality and meant for people of lower social status. Thus, many middle income Nigerians will prefer imported commodities not minding the quality when compared to locally produced alternatives. Furthermore, because of the challenges they face in producing locally, many erstwhile local producers and prospective ones have rather resorted to trading in those commodities that they were previously producing locally. They simply travel to places like Dubai and China to import the goods, sell and make their profit while avoiding the hassles associated with manufacturing business. Generally, sustained economic growth means increase in national output and national income emanating from rising aggregate demand and aggregate supply or productive capacity. This can only occur with lower interest rates that reduce the cost of borrowing and as such encourage spending and investment, increased disposable income that promotes household consumption, increased government spending, diversified and increased net exports. • Dr. Olaopa (tolaopa2003@yahoo.com) is Executive Vice Chairman Ibadan School of Government and Public Policy (ISGPP) Ibadan.

HIGH CHIEF

SELLING OF NATIONAL ASSETS WRONG – Obasanjo

- Why is it now wrong Baba?

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotlines: (Lagos 0902 928 1425), (Abuja 0805 5118488) Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: AYODELE OJO.


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