Monday, september 12, 2016 binder1 by Newtelegraphonline

Oil workers go spiritual as IOCs job cuts hit 350,000 Adeola Yusuf

orkers in Nigeria's multi-billion dollars oil and gas industry have resorted

to spiritual help, as job cuts by international oil companies (IOCs) and their local counterparts in their global services, including

Nigeria, hit an all-time of high of 350,000. The gale of sack commenced in 2014 till when crude prices started to fall

some workers that are yet to be affected in Nigeria have resorted to engaging in spiritual exploits to evade the sack, especially

till date. The situation, a source in one of the major oil companies told New Telegraph, is so scary that

ATM dispense error: CBN monitors banks’ compliance }10

in this recession. "While parents of some workers are in their homestead consulting herbalists, pastors and Islamic clerics for spiritual help, CONTINUED ON PAGE 6

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Monday, September 12, 2016

Osinbajo

Saraki: My travails will soon be over }41

Saraki

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Biafra: MASSOB, BIM urge UN to conduct referendum }40

Kanu

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Woman buys 13-monthold baby for N3,500 }8

The suspects

$34.1m: Nigerians demand Jonathan, wife’s prosecution }4

‘

– Balarabe Musa

‘

Patience Jonathan has to come before the court to establish how she acquired $34.1 million. What was she doing, how was she earning it? She has to explain it – Prof. Itse Sagay (SAN)

‘

The investigation will have no meaning if Jonathan is not probed... Of course, she couldn't have got that kind of money without her husband creating the opportunities

It is scandalous. How did she come about that money? She should not have shown her face at all, not to talk of filing the suit – Reuben Fasoranti, Afenifere

Muslim pilgrims mark the Day of Arafat on Mount Arafat, east of Mecca, Saudi Arabia…yesterday

Buhari to Nigerians: Hardship 'll soon be over lSallah: Dogara, govs, Kalu, Tinubu sue for peace }6, 37 & 38 Barka de sallah to our esteemed reADERS

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MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

$34.1m: Nigerians demand Jonathan, wife’s prosecution

Our Correspondents

igerians have expressed outrage over the bid by former First Lady, Dame Patience Jonathan, to reclaim the sum of $34.1 million (N13.31 billion) lodged in some bank accounts linked to her. They demanded the prosecution of the ex-first lady and her husband, former President Goodluck Jonathan, over the matter. The fund was trapped following the freezing of the accounts by the Economic and Financial Crimes Commission (EFCC) on the suspicion that they were proceeds of money laundering. The former first lady

had dragged the EFCC and Skye Bank to court over the freezing of accounts allegedly belonging to the former presidential aide, Waripamo Dudafa. According to her, the fund, which were lodged in business accounts opened in the name of Dudafa belonged to her. Former governor of Kaduna State, Alhaji Balarabe Musa, urged the EFCC to probe not just the former first lady, but also her husband, over the bank accounts. Musa, who spoke with New Telegraph yesterday, said that while the former first lady must be held accountable for the huge fund linked to her, the investigation cannot be complete if

it was not extended to her husband. "She is not the only one; even her husband should be probed. The investigation will have no meaning if Jonathan is not probed. How did she come about that type of money? Of course, she couldn't have got that kind of money without her husband creating the opportunities," he said. Prof. Itse Sagay (SAN), the chairman, Presidential Advisory Committee on Corruption (PACC) told New Telegraph that Jonathan’s wife must explain how she acquired the money. According to him, “the issue at hand is a very simple one. In a situation

where somebody claims or appears to have such enormous assets, which are ways beyond the means of living of that person, in other words, way beyond what the person can appear to earn legitimately, the EFCC or ICPC are entitled to apply for freezing such funds. And then the court can order that person to explain how he or she acquired that type of fortune. “In the absence of ability to establish that you are the owners of the fortune by showing how you earned such a huge sum, then it will be forfeited.” Sagay stated that the wife of the former president must explain how she came about the money. His words: “I believe

L-R: Executive Director, Kogi Iron Ltd., Mr. Kevin Joseph; Minister of Mines and Steel Development, Dr. Kayode Fayemi and non-Executive Chairman/Director, Kogi Iron Ltd., Dr. Ian Burston, during the Mining in Nigeria Investment Seminar at the Africa Down Under (ADU) Conference in Perth, Western Australia… recently

there is no reason why this principle should not be applied to this situation. So, Patience Jonathan has to come before the court to establish how she acquired $34.1 million. What was she doing, how was she earning it? She has to explain it. I don’t know if former President Jonathan has anything to say about it, but anyone who interferes with it or claims anything in it will be put under the same burden to prove how they legitimately acquired it, but if you cannot establish that, then you will lose the asset.” The first Bishop of Akure Diocese of Anglican Communion, Rev. Emmanuel Bolanle Gbonigi, told New Telegraph that the former first lady should be probed about how she came about the huge amount of money found in her account. The octogenarian said if there is a strong suspicion that the money was acquired through fraudulent means, she should be prosecuted in the law court. Gbonigi said: “She should be probed to know how she came about the money and if there is a strong suspicion that she got the money through illegal means and that she did not work for the money, she should be made to face the wrath of the law. “The law is no respecter of anybody; the law does

Lawyers demand ex-first lady’s probe Akeem Nafiu and Biodun Oyeleye

cross section of lawyers have called on the Economic and Financial Crimes Commission (EFCC) to investigate ex-President Goodluck Jonathan’s wife, Patience, for laying claim to the sum of $31.4 million which is a subject of litigation at the Federal High Court in Lagos. The EFCC had taken an aide to the former president, Waripamo-Owei Dudafa, a lawyer, Amajuoyi Azubike Briggs and a former Skye Bank official, Demola Bolodeoku, to court over the money. They were charged alongside Pluto Property and Investment Company Limited, Avalon Global Property Development Company Limited, Seagate Property Development and Investment Company Limited, Trans Ocean Property and Investment Company Limited and Globus Integrated Services Limited. However, in an application dated September 6, marked; FHC/L/ C5/1233/16, Mrs. Jonathan is asking the court to make

an order for the enforcement of her fundamental rights in terms of reliefs she sought. The former first lady asked the court to make a declaration that the fund standing to the credit of four of the companies and an account in her own name in Skye Bank belonged to her. However, while reacting to Mrs. Jonathan’s claim, a Senior Advocate of Nigeria (SAN), Chief Niyi Akintola, disclosed that the EFCC should commence an immediate investigation into how the former first lady came about the money. He said: “It shows that she has no shame. How does she come about $31.4 million? Even, if it is $1 million, how did she come about it? If N1 million was found in her account, she should account for it. She was made a Permanent Secretary by the governor of Bayelsa. Let her compute all her earnings and tell us how much it amounts to. Besides, there are no provisions for the office of the first lady in our constitution and she can't be earning salaries. So, how did she come about

the money? “In fact, this is a window for the EFCC to pounce on her. If she had on her own came out to say that she owns the money, then, I don't know what the EFCC is waiting for. In fact, she must account for the money. She must tell Nigerians how she came about the money through the EFCC. Rumours about some property in Abuja that are linked to some of the first ladies in some states should be investigated. I am even suggesting that the property should be confiscated, probably some of these first ladies will come out to admit ownership of the property.” Also speaking on the issue, a Vice-President of the Nigerian Bar Association (NBA), Mr. Monday Ubani, said that with Mrs. Jonathan’s claim, the job of knowing the source of the money has been made easier for the EFCC. He said: “If the EFCC has reasonable suspicion that those funds are from fraud and the commission has charged the people that supposedly own the money to court, but somebody is now claiming that the money belongs to her, then, the

EFCC's job has been made easy. The EFCC will interrogate her because I don't think the commission had initially gone after her. She is now the one laying claim to the money and so; she must disclose how she got the money. I think that will be the proper thing to do. The source of the money has to be explained. “She was only the wife of the president and possibly, a Permanent Secretary in the Bayelsa State Ministry of Education. The question is: Will such positions allow her access to such money in one bank because there are other monies in other banks? So, now that she is laying claim to the money, I think the EFCC now knows who to face over the allegations and investigate her properly to know the source of the money,” he further said. National Legal Adviser of the Nigerian Bar Association (NBA), Chief Rafiu Balogun, said there should not be sacred cows in the war against corruption. He said: "If investigations revealed and established that the former wife of the immediate past president and any other personal-

ity whatsoever is culpable and prima facie case can be established, then such person must be prosecuted according to the dictates of the law. "One of the cardinal elements of the rule of law is equality before the law. There must not be preferential treatment for anybody, the war against corruption must be total and tackled head on notwithstanding whoever ox is gored." A Senior Advocate of Nigeria (SAN), Alhaji Kehinde Eleja, told New Telegraph that since Mrs. Jonathan does not enjoy immunity, she should be held responsible for her action. “The starting point should be a thorough investigation of the source of the money. Once it is ascertained that the money was ill gotten and investigation revealed that she is culpable, the only proper thing to do is to prosecute her. Bear in mind that she did not and does not enjoy immunity under our law. That is the only thing to do in the interest of rule of law and the anti-corruption crusade of the Federal Government,” the senior lawyer stated.

not respect anybody, including the president. Anybody that does contrary to the law should be probed and prosecuted. “The fact that she is wife of former president does not make her above the law.” The leader of pan-Yoruba socio-political group, Afenifere, Pa Reuben Fasoranti, described the action of the former first lady as scandalous, querying where she got that kind of money from. Fasoranti said the question should be asked what business did she do that could have fetched her such amount of money since she was not known to be a business woman before, during or after her husband has left the presidency. His words: “It is scandalous. How did she come about that money? She should not have shown her face at all, not to talk of filing the suit. People who live in glass house should not throw stones.” Radical social critic, Dr. Junaid Mohammed, stated that the money was not legally acquired and should revert to the national treasury. According to him, the money should be regarded as part of the fund recovered from treasury looters and should be retrieved from her. "If the account was being run by her and she had that much money in foreign exchange and in the local currency, then of course, the question to ask is: How much is Jonathan himself worth and where is his own money? Technically, Patience was not part of the government; she was the first lady, but there is no provision for First Lady in our constitution. She had no executive responsibilities of any kind; nothing was budgeted in the office because the entire budget was to the office of the president. The important thing, as far as I am concerned, is to collect the money. “Thereafter, whatever government wants to do with her is another matter entirely. I want that money recovered because I want it to also be used to assist in resolving the country's dire financial situation," he said. Senator John Brambaifa, who represented Bayelsa South Senatorial District at the National Assembly, stated that since Jonathan no longer enjoys immunity, he and his wife should be properly investigated. National Chairman of CONTINUED ON PAGE 10

N145

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

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

RETURNS ON SOURCES OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 09-09-2016 S/NO.

SOURCE 1 IMTSO

DATE OF FUND PURCHASED

EXCHANGE RATE

AMOUNT PURCHASED ($) 5,121.68

5-Sep-16

336.61

2 IMTSO

5-Sep-16

360.86

9,027.04

3 ORDINARY DOMICILLIARY PURCHASED

6-Sep-16

310.00

51,443.65

4 DIAMOND BANK

6-Sep-16

313.50

56,700.00

5 CENTRAL BANK OF NIGERIA

7-Sep-16

304.50

1,500,000.00 933.42

6 IMTSO

7-Sep-16

336.14

7 IMTSO

7-Sep-16

335.62

6,299.34

8 IMTSO

7-Sep-16

360.82

9,818.67

9 IMTSO

7-Sep-16

335.49

320.39

10 IMTSO

7-Sep-16

335.49

6,831.21

11 EXPORT PROCEEDS

8-Sep-16

310.00

138,566.88

12 FSDH

8-Sep-16

305.50

13 IMTSO

8-Sep-16

336.14

100,000.00 933.12

14 IMTSO

8-Sep-16

335.95

2,341.15

15 IMTSO

8-Sep-16

336.04

4,521.73

16 TOTAL EXPLORATION & PROD LTD

8-Sep-16

314.92

7,350,000.00

17 IMTSO

9-Sep-16

335.87

3,256.09

18 IMTSO

9-Sep-16

338.09

1,297.32

19 ORDINARY DOMICILLIARY PURCHASED

9-Sep-16

308.25

439,000.00 9,686,411.69

TOTAL

RETURNS ON UTILIZATION OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY, 09-09-2016 S/NO.

CUSTOMER/FXPD/NON-FXPD 1 MELVYN NICKSON NIGERIA LTD 2 GTX BDC LTD

ITEM OF IMPORT ISISTIK-CONTACT ADHESIVE BASED ON POLYMER BDC SALE

DATE OF FUND PURCHASED

EXCHANGE RATE

5-Sep-16

310.50

5-Sep-16

357.36

AMOUNT SOLD ($) 92,300.00 11,148.72

3 AARTI STEEL NIGERIA LTD

INTEREST ON REVOLVING CREDIT

6-Sep-16

314.00

4 BOLAJI RICHARD AUDU

UPKEEP ALLOWANCE

6-Sep-16

310.50

54,794.17 1,591.94

5 KIARA INDUSTRIES NIG LTD

LOW DENSITY POLYETHYLENE

6-Sep-16

313.00

25,015.97

6 OLUDARA MOBOLAJI ADEWALE

SCHOOL FEES

6-Sep-16

310.50

10,253.16

7 CRUSADER STERLING PENSIONS LTD

SUBSCRIPTION

7-Sep-16

315.00

6,270.00

8 AJIGBON OLUSOLA ABIODUN

SCHOLL FEES

7-Sep-16

351.01

6,050.68

9 EMEL ENT. LTD

EMEL BRAND COMPLETE ORDINARY STEEL DOOR

7-Sep-16

305.00

286.40

10 RITE FOODS LTD

SOYA FIBRE/EMULSITEX

7-Sep-16

305.00

33,500.00

11 RITE FOODS LTD

SPICY BEEF BANGER

7-Sep-16

305.00

28,759.09

12 AJIGBON OLUSOLA ABIODUN

SCHOLL FEES

7-Sep-16

351.01

56.32

13 RITE FOODS LTD

TEXTURISED VEGETABLE PROTEIN

7-Sep-16

305.00

67,108.11 7,364.00

14 EQUIDEB BDC LTD

BDC SALE

7-Sep-16

366.23

15 EQUIDEB BDC LTD

BDC SALE

7-Sep-16

340.52

240.29

16 EQUIDEB BDC LTD

BDC SALE

7-Sep-16

340.52

5,123.41

17 EQUIDEB BDC LTD

BDC SALE

7-Sep-16

341.18

699.84

18 EQUIDEB BDC LTD

BDC SALE

7-Sep-16

340.65

4,724.51

19 DIAMOND BANK

INTERBANK SALE

7-Sep-16

305.00

250,000.00

20 ECOBANK

INTERBANK SALE

7-Sep-16

305.00

200,000.00

21 FIRST BANK OF NIGERIA

INTERBANK SALE

7-Sep-16

305.00

100,000.00

22 FCMB

INTERBANK SALE

7-Sep-16

305.00

23 FSDH

INTERBANK SALE

7-Sep-16

305.00

24 GTB

INTERBANK SALE

7-Sep-16

305.00

25 JAIZ BANK

INTERBANK SALE

200,000.00 100,000.00 100,000.00

7-Sep-16

305.00

100,000.00

26 RITE FOODS LTD

RF BRRF AND CHILLI BIGI

8-Sep-16

305.00

320,551.89

27 ADEYEMI ADEOLA

SCHOOL FEES

8-Sep-16

314.35

17,508.00

28 SWIFT OIL LTD

UNLEADED GASOLINE

8-Sep-16

315.42

7,350,000.00

29 RITE FOODS LTD

RF BRRF AND CHILLI BIGI

8-Sep-16

306.00

50,000.00

30 STERLING BANK PLC

GOOGLE ADVERT

8-Sep-16

306.00

816.51

31 AMENAHON SIDAHOME

SCHOOL FEES

8-Sep-16

306.00

11,832.00

32 DAMISI OSILAJA

MEDICAL BILL

8-Sep-16

306.00

2,000.00

33 SAYED FARMS LTD

SODIUM BICARBONATE

8-Sep-16

306.00

7,000.00

34 STERLING BANK PLC

SWIFT INVOICE

8-Sep-16

306.00

2,739.64

35 OTUJO BABATUNDE ADEBAYO

SCHOOL FEES

8-Sep-16

306.00

6,352.48

36 OLADIPUPO JIDE SONOIKI

SCHOOL FEES

8-Sep-16

306.00

4,641.29

37 OTONO GAVENTA

SCHOOL FEES

8-Sep-16

306.00

14,005.92

EXAMINATION REGISTRATION

8-Sep-16

306.00

8-Sep-16

345.56

5,162.88

38 BALEPO TOMILOBA DAVID 39 EXCEL BDC

BDC SALE

650.00

40 MONTANA INDUSTRIES NIG LTD

GRINDING AID FOR CEMENT PRODUCTION

9-Sep-16

310.50

125,000.00

41 MONTANA INDUSTRIES NIG LTD

GRINDING AID FOR CEMENT PRODUCTION

9-Sep-16

310.50

13,566.88

42 EXCEL BDC

BDC SALE

9-Sep-16

345.56

3,453.41

43 VISA CARDS

CARDS

9-Sep-16

385.00

444,774.95

TOTAL

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

9,785,342.46

NEWS

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Buhari to Nigerians: Hardship 'll soon be over Anule Emmanuel, Chukwu David and Philip Nyam Abuja

he state of the nation’s economy, particularly the recession, dominated this year’s message to mark the eid-el-kabir celebration. But President Muhammadu Buhari appealed to Nigerians to exercise patience with his administration, assuring that government was working hard to deal with the current economic challenges and improve the living condition of citizens. The president, in his Sallah message, commended Nigerians for their steadfastness considering the difficult economic times the country was going through. He said the lessons of

the eid were piety and sacrifice, which the citizens have already displayed through the period of the difficulty. "My dear brothers and sisters, you have exhibited these in equal measure. The present recession is as a result of cumulative effects of worldwide economic downturn and failure in the past to plan and save for difficult times. "It is impossible to separate the present from the past to appreciate the extent to which mistakes of the past are affecting everyday life today," Buhari noted. The president continued that: "I assure you that this administration is working round the clock to remove the hardship the country is going through. Rail and road constructions, projects in the housing sector, support for farmers and for small and medium scale industries, youth and

women's empowerment programmes, support for revival of industries are all designed to reinvigorate the economy and enhance living standards of ordinary people. "We are getting security right. We are stopping corruption in its tracks and we will get the economy right by the Grace of God." He enjoined Muslims to live by the dictates of Islam, to keep good relationships with their Christian brothers and sisters and as patriots to maintain the spirit of the Nigerian nation. President of the Senate, Bukola Saraki, also felicitated with Muslim faithful in the country as they celebrate the eid-el-kabir, urging them to pray for peace and accelerated recovery of the nation's economy. Saraki, in his Sallah message, also urged Nigerians to remain steadfast and committed to the cause of

one, united and developed country. He observed that despite the current economic challenges, the country and its people had all that was required to come out better and stronger. Saraki said: “I sincerely rejoice with all Nigerians, especially the Muslim faithful, on yet another Eid-el-Kabir, which is both a period of sacrifice and obedience to divine guidance and a time to share our resources with our neighbours, no matter how little. "It is also a call on all of us to love one another, eschew all forms of violence, adhere strictly to the noble tenets of Islam and peaceful coexistence. We must not relent in being our brothers’ keeper and playing our part to achieve the New Nigeria of our dreams. "Truly, times are tough,

L-R: Head Segments, Retail Banking, Union Bank Plc., Paul Aseme; Head Strategy, Lola Cardoso; Head, Alternate Channels, Folunrosho Orimoloye; Non-executive Director, Nike Akande; Executive Director, Commercial Banking, Kunle Sonola and Head, AgriBusiness, Olabode Abikoye, after winning the "Most Improved Bank in Retail Banking" at the BusinessDay Awards in Lagos…at the weekend

but we are a tough people too. Therefore, I have no doubt that we shall overcome our present economic setback sooner than anticipated, if we all commit to the ideals of nation building. "I also enjoin everyone of us to contribute in strengthening the bond of unity and oneness that exists among us. This, I believe, will spur us to avoid negative tendencies that could derail our efforts at ensuring faster economic revival and socio-political stability," he said. Speaker of the House of Representatives, Hon. Yakubu Dogara, called on the faithful to use the period for sober reflection and to imbibe the spirit of sacrifice for peace, unity and progress of the country. The Speaker noted that peaceful co-existence and understanding as well as sustained prayers among citizens were essential in the face of the current economic and security challenges in the country which are not insurmountable. "As we celebrate Eid-elKabir with our friends and families, we must never forget our country and its leadership in our prayers. Eid-el-Kabir celebration is a period of sacrifice and reflection. I urge us all to emulate the virtues of total obedience, sacrifice in faith and selfless service as demonstrated and exemplified by Prophet lbrahim," the Speaker admonished. Dogara lamented the pains the citizens were undergoing currently which

are occasioned by decades of maladministration and the near collapse of a mono-product economy, but expressed confidence that the diversification drive of the Buhari administration, coupled with its fiscal discipline and transparency, will surely return the nation to the path of true development and prosperity. Similarly, the Deputy President of the Senate, Ike Ekweremadu, enjoined the Muslim Ummah to use the occasion of Sallah to pray for the nation’s quick recovery from her current economic recession, expressing confidence that Nigerians, working together, could heal the nation’s economy. Ekweremadu noted that the present economic challenges were not beyond redemption, but could actually become the nation’s turning point away from an oil-driven economy to real prosperity if the right policies and structures were put in place. He said: “I warned long ago that elections had come and gone and we should move from politics to governance. It is time for governance and we must bring all capable hands on the deck, irrespective of political, religious or ethnic backgrounds. “Nigerians are facing hard times; and all they are interested in are positive results and urgent succour. They don’t care whether you are All Progressives Congress (APC) or Peoples Democratic Party (PDP) and whether you are North or South. ”

Oil workers go spiritual as IOCs job cuts hit 350,000 CONTINUED FROM PAGE 1

some workers are organising prayer sessions and fellowship somewhere in Port Harcourt and the Ikeja area of Lagos to avert the gale of sack sweeping across various sections of the industry," he said. Inventory from 12 major oil producers and traders at the weekend, which revealed that 350,000 workers had lost their jobs, showed that the gloomy situation will persist, as "market will stay in the corridor of $40 to $50, max $55 per barrel price." Oil companies, especially explorers, slashed hundreds of billions of dollars in investment to weather the rout, but the majority of oil traders reported the mass job loss using the inventory, according to Bloomberg. It said that market re-balancing has been pushed back by at least six months from their projections in early 2016 because

of higher-than-expected production from Iran and Saudi Arabia, coupled with the resilience of U.S. shale output. “The oil market is not yet balanced,” Saad Rahim, chief economist at oil trading house, Trafigura Group Pte, said, adding that the "market has yet to start working through millions of barrels of inventories accumulated during the downturn.” Checks by New Telegraph showed that over 4,000 skilled and 6,000 unskilled workers were affected in Nigeria. Local oil firms in production and servicing strata of the industry have retrenched employees albeit on a smaller scale. Further checks show that more workers are likely to be sacked in the coming days, as the harsh conditions in the country show no signs of abating. Mobil Producing Nigeria (MPN) Unlimited,

operator of the Nigerian National Petroleum Corporation MPN/NNPC Joint Venture in Akwa Ibom laid off about 150 contract staff and 40 drivers from its employ, while Total fired 100 in its Nigerian operations. Over 4,000 Nigerians in the oil and gas industry lost their jobs in the last 18 months. A survey by this newspaper showed that while about 75 per cent of these oil workers were former staff in the operations of the IOCs, the indigenous firms sacked about 1,000 staff, which is the remaining 25 per cent. In total, this number of sacked workers is 16.4 per cent of the total number of staff on sack list by just two oil giants, Shell and Chevron, in their global operations. Oil giant, Shell, had on May 23, declared plans to sack additional 5,000 staff, raising the number of staff to be laid off in Nigeria and other coun-

tries of operations by the company and another oil major, Chevron, to 23, 500. These have heightened panic and generated confusion among some staff of the companies who are now considering industrial action. Shell’s vice president for the United Kingdom (UK) and Ireland, Paul Goodfellow, who announced the plan to lay off 5,000 more staff before the end of 2016, said that 2,200 more jobs would be cut in the first phase of the new disengagement, as the world’s second biggest oil companies continue to adjust to the slump in oil prices. This takes the tally of sacking by Shell to 15,000 between 2015 and 2016, as the oil firm continues to adjust to the slump in prices. Chevron, on its own, will round up the number of sacked workers to 8,500 before December while other companies such as

ExxonMobil, Total have also sacked about 4,000 workers secretly in their global operations. “These are tough times for our industry,” Goodfellow said in a statement. “We have to take further difficult decisions to ensure Shell remains competitive through the current, prolonged downturn.” At least 5,000 jobs will be cut this year, Shell said in an emailed statement. These reductions are in response to oil prices staying “lower for longer,” and as a result of the acquisition of BG Group Plc. earlier this year, said Goodfellow. Shell and BG employed about 94,600 people at the end of 2015. The industry is cutting deeper despite oil’s 80 per cent recovery since last January. Prices remain about half the level of two years ago and companies’ earnings have been pummelled, debt has in-

creased and credit ratings have been cut. To help protect their balance sheets, companies have deferred or cancelled billions of dollars of projects, renegotiated contracts with suppliers and eliminated thousands of jobs. Shell had, before Goodfellow’s announcement, revealed its plans to sack 10,000 staff and slash direct contractor positions in the company’s unedited full year 2015 results. While crude has, according to Bloomberg, climbed from the 12-year lows reached at the start of 2016, a supply glut caused by the U.S. shale boom is pinning prices at half the levels of two years ago. “The issue is that once prices go up too fast, American drillers start to produce more,” Arzu Azimov, head of Socar Trading SA, said. “The market will stay in the corridor of $40 to $50, max $55.”

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

FIRST CITY MONUMENT BANK

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR WEEK ENDED FRIDAY SEPTEMBER 09, 2016 DATE OF FUND PURCHASE

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

RAW MATERIAL FOR MANUFACTURING EXERCISE BOOKS

8-Sep-16

310.50

15,508.00

SORBITOL.

8-Sep-16

305.50

50,000.00

SORBITOL.

8-Sep-16

305.50

76.00

ACCOMODATION FEE

8-Sep-16

315.50

7,161.00

UNIGROW INDUSTRIES LIMITED

POLYESTER FILM OF POLY IN JUMBO RILLS

8-Sep-16

315.50

50,000.00

116

STARSONIC NIGERIA LIMITED

PP CO-POLYMER RANDOM

8-Sep-16

315.50

117

LANRE BHADMUS INDUSTRIES LIMITED

PURCHASE OF BASE STOCK SN150/SN100

8-Sep-16

315.50

25,000.00

118

KC DOZIE HOLDINGS LIMITED

MOTOCYCLE IN CKD (COMPLETELY KNOCKEED DOWN CONDITION)

8-Sep-16

315.50

10,000.00

119

RICHYGOLD INTERNATIONAL LTD

PHARMACEUTICAL RAW MATERIALS

8-Sep-16

315.50

14,506.50

120

BIFON INTERNATIONAL CO LTD

OXIDE

8-Sep-16

315.50

6,240.00 12,000.00

EXCHANGE RATE

AMOUNT

5-Sep-16

310.50

123,495.00

5-Sep-16

310.50

70,000.00

112

CLASSIC SOAP INDUSTRIES NIGERIA LIMITED

5-Sep-16

310.50

30,000.00

113

CLASSIC SOAP INDUSTRIES NIGERIA LIMITED

TUITION AND ACCOMODATION

5-Sep-16

315.50

33,577.44

114

ADEWALE ADEDAPO

ZEX STANDARD PHARMACEUTICALS LIMITED

PAYMENT AGAINST IMPORTATION OF ETHANOL

5-Sep-16

310.50

160,000.00

115

AKONI VALERIE I

LIVING EXPENSE

5-Sep-16

315.50

8,139.00

SKY INDUSTRIES NIGERIA LIMITED

LOW DENSITY POLYETHYLENE (LDPE) LOTRENE FE8000

5-Sep-16

315.00

22,770.00

AYINDE FUNMILAYO

SCHOOL FEES

5-Sep-16

315.50

18,988.68

14,515.00

CUSTOMER

ITEM OF IMPORT

HYBRID SHIPPING SERVICES LIMITED

CHARTER FEE

ZEX STANDARD PHARMACEUTICALS LIMITED

PAYMENT AGAINST IMPORTATION OF ETHANOL

ZEX STANDARD PHARMACEUTICALS LIMITED

PAYMENT AGAINST IMPORTATION OF ETHANOL

AKONI VALERIE I

SN 111

CUSTOMER AVIVA INDUSTRIES NIGERIA LTD

ITEM OF IMPORT

35,849.63

TRAINING AND MAPOWER DEVELOPMENT UNIT

TRAINING

5-Sep-16

315.50

LADIPUPO BALOGUN

SCHOOL FEES

5-Sep-16

315.50

AVIVA INDUSTRIES NIGERIA LTD

NEWS PRINT IN REELS 45GSMWIDTH 305MM

5-Sep-16

310.50

70,000.00

121

LEANDER RESOURCES LTD

METAL PLATES OF VARIOUS SIZE (INDUSTRIAL RAW

8-Sep-16

315.50

FCMB MASTERCARD

5-Sep-16

315.50

27,906.57

122

LIOPEC PHARMACEUTICAL CHEMICAL COMPANY

FORTIFIED PROCANE BENZYLPENICILLIN INJECTION,4 MEGA

8-Sep-16

315.50

8,760.00

FCMB MASTERCARD

5-Sep-16

315.50

84,780.44

123

KAM INDUSTRIES NIGERIA LIMITED

INDUSTRIAL RAW MATERIALS FOR COLD ROLLING STEEL MILL

8-Sep-16

307.00

200,000.00

FCMB MASTERCARD

5-Sep-16

315.50

79,689.90

124

KAM INDUSTRIES NIGERIA LIMITED

INDUSTRIAL RAW MATERIALS FOR COLD ROLLING STEEL MILL

8-Sep-16

306.00

200,000.00

ABIOYE OLASUNKANMI YUSUF

CFA EXAM FEE

6-Sep-16

315.50

125

KC DOZIE HOLDINGS LIMITED

MOTOCYCLE IN CKD

8-Sep-16

305.50

10,000.00

ADAMORE NIGERIA LIMITED

RAW MATERIAL FOR AGRO VETERINARY

6-Sep-16

315.50

40,000.00

126

FCMB VISA CARD

CARD

8-Sep-16

315.50

27,906.57

ADVEEM NIGERIA LIMITED

CALCIUM PROPIONATE WHITE POWDER A FOOD

6-Sep-16

315.50

40,000.00

127

TENOWORTH NIG LTD

TOBACCO LEAVES

8-Sep-16

315.50

18,000.00

AL AMIN AQUA FARMS

FISH MEAL 65% FOR ANIMAL FEED PRODUCTION

6-Sep-16

315.50

25,000.00

128

FCMB VISA CARD

CARD

8-Sep-16

305.50

27,783.08

ATC GENERAL MERCHANTS LTD

POLYSTER YARN

6-Sep-16

315.50

20,000.00

129

PREMIUM ALUMINIUM LIMITED

PLAIN ALUMINIUM COILS

8-Sep-16

315.50

10,000.00

AVIVA INDUSTRIES NIGERIA LTD

NEWS PRINT IN REELS 45GSMWIDTH 305MM

6-Sep-16

310.50

7,677.76

130

BIFON INTERNATIONAL CO LTD

OXIDE

8-Sep-16

305.50

10,000.00

AVIVA INDUSTRIES NIGERIA LTD

NEWS PRINT IN REELS 45GSMWIDTH 305MM

6-Sep-16

310.50

15,885.56

131

GUAZMAN JAJA INDUSTRIES

NEW AUTO SPARE PARTS

8-Sep-16

315.50

AVIVA INDUSTRIES NIGERIA LTD

NEWS PRINT IN REELS 45GSMWIDTH 305MM

6-Sep-16

310.50

17,840.19

132

KLYSAT GENERAL ENTERPRISES

ESSENTIAL RAW MATERIALS FOR INDUSTRY

8-Sep-16

315.50

50,000.00

AVIVA INDUSTRIES NIGERIA LTD

NEWS PRINT IN REELS 45GSMWIDTH 305MM

6-Sep-16

310.50

33,596.40

133

FCMB VISA CARD

CARD

8-Sep-16

305.50

22,172.91

BENTOS PHARMACEUTICAL PRODUCTS LTD

FOR THE PURCHASE OF PARACETAMOL POWDER

6-Sep-16

315.50

25,000.00

134

SHAKTI INDUSTRIES LTD

RAW MATERIAL

8-Sep-16

306.00

70,627.50

BHOJRAJ INDUSTRIES PLC

METHYL TIN MERCAPTIDE/CARBOXYLATE( SAK-MT-9216)

6-Sep-16

315.50

30,000.00

135

AGBONTAEN ANGELA

ACCOMODATION FEE

8-Sep-16

315.50

745.83

BRIGHT PRODUCT LIMITED

RAW MATERIALS

6-Sep-16

315.50

10,000.00

136

SHAKTI INDUSTRIES LTD

RAW MATERIAL

8-Sep-16

306.00

59,372.50

BUKOLA SMITH

MORTGAGE

6-Sep-16

315.50

1,651.13

137

DAILY BEVERAGES LTD

BIG SHOCK GOLD ENERGY DRINK

8-Sep-16

306.00

CHI KEEN CHEMICALS NIG. LTD

ASPARTAME POWDER, POTASSIUM SORBATE, ASCORBIC ACID

6-Sep-16

315.50

38,000.00

138

ZUMAC EXCEL GLOBAL COMPANY LIMITED

NEW MOTORCYCLE SPARE PARTS

9-Sep-16

305.50

6,000.00

CITICO PLASTICS

RAW MATERIAL FOR INDUSTRY

6-Sep-16

315.50

50,000.00

139

BLACK HORSE PLASTIC INDUSTRY LIMITED

POLYPROPYLENE COPOLYMER

9-Sep-16

315.50

25,000.00

DIAMOND BANK

INTERBANK

6-Sep-16

305.50

200,000.00

140

OKORIE MICHAEL ANAYO

SCHOOL FEES

9-Sep-16

315.50

835.00

DRUGFIELD PHARMACEUTICALS LIMITED

AUTOMATIC TUBES FILLING AND SEALING MACHINE

6-Sep-16

315.50

10,000.00

141

AL AMIN AQUA FARMS

FISH MEAL 65%

9-Sep-16

315.50

25,000.00

EKO SUPREME RESOURCES NIGERIA LIMITED

SODA ASH LIGHT 1,300MT

6-Sep-16

315.50

70,000.00

142

FISAYO BEJIDE

SCHOOL FEES

9-Sep-16

315.50

ENIOLA OLATUNDUN EBUNOLUWA

SCHOOL FEES

6-Sep-16

315.50

5,071.00

143

MOJEED ENTERPRISES

SCHOOL FEES

9-Sep-16

315.50

4,300.00

FIDELITY BANK PLC

INTERBANK

6-Sep-16

305.50

200,000.00

144

BHOJSONS PLC

KIRLOSKAR DIESEL GENERATING SETS IN CKD

9-Sep-16

315.00

232,245.00

FINE CHEMICALS NIGERIA LIMITED

RAW MATERIALS FOR INDUSTRIAL USE: ETHYL

6-Sep-16

315.50

14,699.60

145

FINE CHEMICALS NIGERIA LIMITED

Raw Materials For Industrial Use: Ethyl Acetate Qty 67.84 Mt

9-Sep-16

315.50

908.67

FINE CHEMICALS NIGERIA LIMITED

RAW MATERIALS FOR INDUSTRIAL USE: ETHYL

6-Sep-16

315.50

10,000.00

146

BIFON INTERNATIONAL CO LTD

CHEMICALS

9-Sep-16

315.50

10,000.00

First City Monument Bank LTD

SUBSCRIPTION

6-Sep-16

315.50

25,000.00

147

ADAMORE NIGERIA LIMITED

RAW MATERIAL FOR AGRO VETERINARY

9-Sep-16

315.50

First City Monument Bank LTD

SUBSCRIPTION

6-Sep-16

315.50

25,000.00

148

E B M SYSTEMS NIGERIA LIMITED

POLYESTER, GASKET, CELLOPHINE.

9-Sep-16

315.50

7,046.90

FLOUR MILLS NIG PLC

AUSTRALIAN HARD WHEAT WITH PROTEIN

6-Sep-16

315.50

30,000.00

149

GILCENT INTERNATIONAL LTD

Fish Meal For Poultry Industry

9-Sep-16

315.50

10,000.00

GOLDEN OIL INDUSTRIES LTD

FRYMAKORUMA MAXXD 700

6-Sep-16

315.50

1,841.10

150

DIPOX RESIN FLOORS LIMITED

RAW MATERIALS & EQUIPMEN

9-Sep-16

315.50

20,000.00

HERITAGE BANK COMPANY LIMITED

INTERBANK

6-Sep-16

305.50

200,000.00

151

GOLDEN OIL INDUSTRIES LTD

12240 Bags Bleaching Op mun Grade

9-Sep-16

315.50

12,044.43

HYBRID SHIPPING SERVICES LIMITED

CHARTERED FEE FOR VESSEL

6-Sep-16

310.50

181,505.00

152

SHIV LILA POLYMERS LIMITED

Plas c Raw Material Pvc Suspension Resin

9-Sep-16

315.50

32,500.00

IBEKWE ANTHONIA NWAMAKA

ACCOMODATION FOR ANTHONIA IBEKWE

6-Sep-16

315.50

153

TENOWORTH NIG LTD

TOBACCO FOR SNUFF PRODUCTION

9-Sep-16

315.50

10,000.00

J O F NIGERIA LIMITED

LIQUID GLUCOSE

6-Sep-16

315.50

100,000.00

154

PROMASIDOR NIGERIA LIMITED

Bulk Mul ply Bags Instant Whole Milk Powder For ﬁed

9-Sep-16

315.50

5,000.00

KARAMU PLASTIC INDUSTRIES COMPANY LTD

PP Copolymer Grade EL Pro P740J

6-Sep-16

315.50

50,000.00

155

PROMASIDOR NIGERIA LIMITED

Bulk Mul ply Bags Instant Whole Milk Powder For ﬁed

9-Sep-16

315.50

5,000.00

KARAMU PLASTIC INDUSTRIES COMPANY LTD

PP Copolymer Grade EL Pro P740J

6-Sep-16

315.50

50,000.00

156

MDV INDUSTRIES LIMITED

Polyethylene Lubricated

9-Sep-16

315.50

7,500.00

KARAMU PLASTIC INDUSTRIES COMPANY LTD

PP Copolymer Grade EL Pro P740J

6-Sep-16

315.50

35,865.20

157

SEAGLE INT'L LIMITED

CHEMICALS

9-Sep-16

315.50

20,000.00

LANRE BHADMUS INDUSTRIES LIMITED

BASE OIL GROUP

6-Sep-16

315.50

40,000.00

158

CHIJIOKE IJIOMA EMMANUEL

SCHOOL FEES

9-Sep-16

315.50

5,995.30

NESTLE NIGERIA PLC

SIG COMBIBLOC FILLING MACHINE

6-Sep-16

315.00

157,939.50

159

INTER SWASTIK NIG LTD

Importa on Of Moulds

9-Sep-16

315.50

20,000.00

NIPCO PLC

4,000.00 METRIC TONNES (+/-10%) GASOIL

6-Sep-16

315.50

343,249.20

160

ABIMBOLA FOLARANMI OLUSEYE

SCHOOL FEES

9-Sep-16

315.50

670.00

OBAJANA AGROSACKS LTD

SPARE PARTS FOR MACHINE FOR MANUFACTURING OF SACKS

6-Sep-16

315.50

2,979.29

161

ZUMAC EXCEL GLOBAL COMPANY LIMITED

NEW MOTORCYCLE SPARE PARTS

9-Sep-16

305.50

10,000.00

ODODO GENEVIEVE UFUOMA

SCHOOL FEES

6-Sep-16

315.50

1,000.00

162

RICHLAND AUTOMOTIVE PRODUCTS LTD

INDUSTRIAL/PLANT MACHINERY

9-Sep-16

315.50

10,000.00

PASTEL INDUSTRIES LTD

HYDROXY ETHYL CELLULOSE

6-Sep-16

315.50

10,000.00

163

AARCEE PHARMACY LTD

PHARMACEUTICAL RAW MATERIALS

9-Sep-16

315.50

PRISTINE EXIM UNIVERSAL LIMITED

MONOSODIUM GLUTAMATE

6-Sep-16

315.50

156,750.80

164

BRILLIANT SHIPPING SERVICES LIMITED

CHARTERED FEE FOR VESSEL

9-Sep-16

315.00

317,221.60

RASHA INDUSTRIES LIMITED

HIGH DENSITY POLYETHLENE(HDPE)LOTRENE QTR-144

6-Sep-16

315.50

30,000.00

165

INDORAMA PET NIGERIA LIMITED

PURCHASE OF RAW MATERIALS

9-Sep-16

315.50

20,000.00

ROBINSON VENTURES LIMITED

POLYAMIDE RESIN

6-Sep-16

315.50

10,000.00

166

JM PROPERTIES AND INVESTMENTS LIMITED

Resin Formolon 622

9-Sep-16

315.50

20,000.00

SAM-ACE LIMITED

PHARMACEUTICAL

6-Sep-16

315.50

25,000.00

167

UKACHUKWU GABRIEL CHIGOZIE

SCHOOL FEES

9-Sep-16

315.50

15,401.61

SHEKONI OLAJUMOKE KEHINDE

CREDIT CARD PAYMENT

6-Sep-16

315.50

400.00

168

POLLYCARP INTERNATIONAL COMPANY LIMITED

AGRICULTURAL HAND SPRAYER

9-Sep-16

315.50

20,000.00

SHEKONI TAIWO FOLARIN

CREDIT CARD PAYMENT

6-Sep-16

315.50

4,000.00

169

PRIMA CORPORATION LIMITED

POLYETHYLENE TEREPHTHALATE RESIN GRADE

9-Sep-16

315.00

325,800.00

SHIV LILA POLYMERS LIMITED

PLASTIC RAW MATERIAL

6-Sep-16

315.50

30,000.00

170

UKACHUKWU GABRIEL CHIGOZIE

SCHOOL FEES

9-Sep-16

315.50

5,000.00

TECHTYME CONCEPT NIGERIA LIMITED

INDUSTRIAL MACHINE

6-Sep-16

315.50

10,000.00

171

BAYSWATER INDUSTRIES LIMITED

138,000KGS OF HYDROLYZED PROTEIN POWDER

9-Sep-16

315.00

150,032.40

TEELADSCO GLOBALINK LTD

TOLUENE DIISOCYANATE

6-Sep-16

315.50

25,000.00

172

BIFON INTERNATIONAL CO LTD

CHEMICALS

9-Sep-16

315.50

10,000.00

TOMBO INDUSTRIES LIMITED

CAUSTIC SODA PERALS 99%MIN

6-Sep-16

315.50

20,000.00

TORO PHARM LOGISTICS LTD

CORN STARCH

6-Sep-16

315.50

10,000.00

TORO PHARM LOGISTICS LTD

CORN STARCH

6-Sep-16

315.50

10,000.00

TRADENET INTERNATIONAL LTD

RAW MATERIALS FOR INDUSTRY - HDPE RESIN

6-Sep-16

315.50

4,375.00

TRADENET INTERNATIONAL LTD

RAW MATERIALS FOR INDUSTRY - HDPE RESIN

6-Sep-16

315.50

45,625.00

UNITED BANK FOR AFRICA

INTERBANK

6-Sep-16

305.50

250,000.00

WAHUM PACKAGING LTD

INDUSTRIAL RAW MATERIALS FOR CORRUGATED PAPER

6-Sep-16

315.50

20,000.00

WAHUM PACKAGING LTD

INDUSTRIAL RAW MATERIALS FOR CORRUGATED PAPER

6-Sep-16

310.50

85,800.00

WAHUM PACKAGING LTD

INDUSTRIAL RAW MATERIALS FOR CORRUGATED PAPER

6-Sep-16

310.50

96,800.00

YEWANDE ONIANWAH

CREDIT CARD PAYMENT

6-Sep-16

315.50

ZENITH BANK

INTERBANK

6-Sep-16

305.50

ZEX STANDARD PHARMACEUTICALS LIMITED

ETHYL ALCOHOL (EXTRA NEUTRAL ALCOHOL) -

6-Sep-16

315.50

EUROCHEMCO VENTURES LIMITED

BOPP TRP BOTH SIDE HEAT SEAL ONE SIDE

7-Sep-16

310.50

70,350.00

EUROCHEMCO VENTURES LIMITED

BOPP TRP BOTH SIDE HEAT SEAL ONE SIDE

7-Sep-16

310.50

116,772.00

EUROCHEMCO VENTURES LIMITED

BOPP TRP BOTH SIDE HEAT SEAL ONE SIDE

7-Sep-16

310.50

19,184.00

KABOB RESOURCES LIMITED

ESSENTIAL INDUSTRIAL PARTS

7-Sep-16

315.50

14,134.80

PROMASIDOR NIGERIA LIMITED

(RAW MATERIAL FOR PROCESSING-1,008.00 OF N25KG BAG

7-Sep-16

315.50

20,000.00

KUYE KAFILAT ABISOLA

CFA EXAM FEE

7-Sep-16

315.50

NNAJI CHRISTOPHER IKECHUKWU

UPKEEP

7-Sep-16

315.50

ILORI JAMES OLANREWAJU

CREDIT CARD BILL

7-Sep-16

315.50

3,859.21

NNAJI CHRISTOPHER IKECHUKWU

UPKEEP

7-Sep-16

315.50

13,150.02

RICHYGOLD INTERNATIONAL LTD

PHARMACEUTICAL RAW MATERIALS

7-Sep-16

315.50

20,000.00

MARLEYSHREE PHARMACEUTICAL NIG

MARLEY 50MG (DICLOFENAC SODIUM TABLETS)

7-Sep-16

305.50

48,000.00

BENTOS PHARMACEUTICAL PRODUCTS LTD

paracrtamol powder

7-Sep-16

305.50

8,000.00

ADEMOLA ADESINA OYEYINKA

SCHOOL FEES

7-Sep-16

305.50

5,500.00

SAM-ACE LIMITED

PHARMACEUTICAL

7-Sep-16

305.50

42,000.00

HOB BRANCH

PER DIEM

7-Sep-16

315.50

312.50

HOB BRANCH

PER DIEM

7-Sep-16

315.50

800.00

HOB BRANCH

PER DIEM

7-Sep-16

315.50

625.00

HOB BRANCH

PER DIEM

7-Sep-16

315.50

500.00

NWOGU NKIRU BLESSING

SCHOOL FEES

7-Sep-16

315.50

8,064.51

NWOGU NKIRU BLESSING

SCHOOL FEES

7-Sep-16

315.50

3,568.19

FASINRO MORONFOLU OLASENI

MORTGAGE

7-Sep-16

315.50

ADEKOYA OMOTOLA ABIODUN

SCHOOL FEES

7-Sep-16

315.50

1,300.00

RELCHEM LIMITED

Polymeric Polyol in 215 Kg Net Drums

7-Sep-16

315.50

10,000.00

NATH UDE

SCHOOL FEES

7-Sep-16

315.50

4,520.00

OBAJANA AGROSACKS LTD

SPARE PARTS FOR MACHINE FOR MANUFACTURING OF SACKS

7-Sep-16

315.50

2,979.29

100

WOOLLEN AND SYNTHETIC TEXTILE LIMITED

Polyester Textured yarn GRY 0155/048/

7-Sep-16

315.50

14,151.37

101

REGENCY PLASTIC INDUSTRIES LIMITED

ARTIFICIAL RESIN - PP COPOLYMER

7-Sep-16

315.50

50,000.00

102

MISBAHU UMAR YOLA

TUITION FEE

7-Sep-16

305.50

21,650.04

103

TENOWORTH NIG LTD

TOBACCO LEAVES

7-Sep-16

305.50

14,493.00

104

POPOOLA IBUKUNOLUWA TEMITOPE

CREDIT CARD

7-Sep-16

315.50

3,076.13

105

KARMOTERD VENTURES WEST AFRICA LIMITED

secondary butyl acetate 180 kg net drum 3*20 fcl

7-Sep-16

315.50

10,000.00

106

IYAMABO PATRICK

PAYMENT FOR MORTGAGE

8-Sep-16

315.50

4,972.10

107

ODESANYA OLAGBENGA OLAWOLE

EXAM FEE

8-Sep-16

315.50

665.00

108

DRUGFIELD PHARMACEUTICALS LIMITED

PHARMACEUTICAL RAW MATERIA

8-Sep-16

315.50

9,000.00

109

BRIGHT PRODUCT LIMITED

PROPYLENE COPOLYMER

8-Sep-16

315.50

25,000.00

110

DRUGFIELD PHARMACEUTICALS LIMITED

PHARMACEUTICAL RAW MATERIA

8-Sep-16

315.50

1,000.00

725.22

665.00

7,875.67

1,496.78 200,000.00 50,000.00

835.00 10,500.00

6,140.73

RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR WEEK ENEDED FRIDAY SEPTEMBER 09, 2016 SN

SOURCE

DATE OF FUND PURCHASE

EXCHANGE RATE

AMOUNT

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37

EXPORT PROCEEDS OTHERS OTHERS OTHERS INTERBANK CBN INTERVENTION INTERBANK INTERBANK OTHERS EXPORT PROCEEDS OTHERS OTHERS OTHERS EXPORT PROCEEDS EXPORT PROCEEDS CCI INFLOW OTHERS OTHERS OTHERS OTHERS EXPORT PROCEEDS INTERBANK OTHERS INTERBANK OTHERS OTHERS OTHERS OTHERS OTHERS INTERBANK OTHERS OTHERS EXPORT PROCEEDS OTHERS OTHERS INTERBANK EXPORT PROCEEDS

5-Sep-16 5-Sep-16 5-Sep-16 5-Sep-16 5-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 6-Sep-16 7-Sep-16 7-Sep-16 7-Sep-16 7-Sep-16 7-Sep-16 7-Sep-16 7-Sep-16 8-Sep-16 8-Sep-16 8-Sep-16 8-Sep-16 8-Sep-16 8-Sep-16 8-Sep-16 9-Sep-16 9-Sep-16 9-Sep-16 9-Sep-16 9-Sep-16 9-Sep-16

310.00 310.00 310.00 310.00 305.50 305.00 315.00 306.50 310.00 310.00 315.00 315.50 310.00 310.00 310.00 315.00 315.50 315.00 310.00 315.50 310.00 306.50 315.50 305.00 315.00 315.00 310.00 310.00 315.50 305.50 315.50 310.00 314.50 315.00 315.50 310.50 314.50

605,315.80 557.00 1,000.00 32,806.45 200,000.00 1,500,000.00 157,827.61 100,000.00 9,000.00 206,306.00 214,285.71 50,000.00 336.56 256,504.91 182,600.00 500,000.00 10,000.00 9,523.81 109.84 2,979.29 15,508.00 100,000.00 20,000.00 200,000.00 231,746.03 95,238.10 373.26 330.00 10,000.00 200,000.00 27,906.57 60.00 793,054.00 803,174.60 15,401.61 24,000.00 232,245.00

4,000.00

70,000.00

665.00

20,000.00

8,000.00

monDAY, September 12, 2016 NEW TELEGRAPH

METRO Dominic Adewole ASABA

olice in Delta State at the weekend paraded a 32-year-old woman, Madam Abigail Nwakama aka Madam Cash, for being the leader of a child trafficking syndicate. It was discovered that Nwakama bought a 13-month-old baby, Fatima Yahaya, from her agents for a paltry sum of N3,500. The baby was abducted by two ladies, Nnoruka Obioma (21) and Chidimma Anikwesiri (20), believed to be Nwakama’s agents. Obioma and Anikwesiri reportedly impersonated officials of the Special Anti-Robbery Squad (SARS) to abduct the Fatima. Fatima’s mother, Aisha Yahaya, raised the alarm which attracted the attention of police detectives, who soon smoked out Obioma and Anikwesiri from their hideout while they were attempting to escape with Fatima. Madam Cash reportedly hid the baby at her drinking ‘joint’ at Stop Abortion Junction in Asaba, awaiting buyer. But detectives arrested her and another 32-year-old woman, Ifeoma Anyadike, at Okpanam. The state Commissioner of Police, Zanna Ibrahim, paraded Nwakama and her gang members as well as 38 suspected kidnappers, armed robbers and cultists at the state Police Command Headquarters, Asaba, Ibrahim said detectives burst the kidnappers’ hideout at Okpanam axis of Asaba, before the suspects led policemen to their main hideout at Ogidi in Anambra State where a pastor, Chinedu Strongman, a member of the syndicate, hid 12 stolen babies. “When detectives got there, the pastor immediately sensed danger and started making supplications to God to fool us. But when he sighted his gang members, including Madam Cash, his dropped from his prayer posture, knowing fully well that the game was up,” one of the detectives, who arrested him, said. Strongman is the resident pastor of the Gospel Fire Ministry, Mkwuele-Ogidi, in Anambra State. Besides Strongman, four other members of his gang, David Ikesinachi, Ebere

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Woman buys 13-monthold baby for N3,500

l12 kids rescued from pastor’s den

Edwin, Adage Enyi and Chike Agwunenu (55), were arrested at different locations at Ogidi for their involvement in the abduction saga. “Investigations revealed that Pastor Chinedu Strongman paid N400,000 for each child sold to him by Madam Cash,” the commissioner said. He added: “Two of the recovered children were handed over to their parents while the remaining 10, within the age bracket of six months to two years, are kept at St. Barnabas Orphanage Home in Asaba, pending identification by their families, even as efforts have been intensified to apprehend other mentioned members of the syndicate.” On interrogation, Madam Cash, who kept sealed lips, with her hands on her head on the parade ground, merely said: “I will say the truth if the commissioner of police will forgive me.” The arrest of the suspects confirmed the New Telegraph’s lead story of Wednesday, September 7, entitled: Tension in Anambra, Delta as traffickers, ritualists abduct 45 children.

Strong man

City Briefs Tanker crashes on Lagos-Ibadan Expressway Camillus Nnaji

tanker conveying slop oil waste crashed at the weekend and spilled its contents on the Lagos-Ibadan Expressway. The incident occurred near the Redeemed Christian Church of God (RCCG) camp. The tanker heading to Lagos from Port Harcourt skidded off its track and landed with a heavy bang on the expressway. Immediately after the crash on Saturday, street urchins, popularly called area boys, swooped on the tanker and started scooping the oil, thinking it was diesel. One of the occupants of the tanker,

abiodun.bello@newtelegraphonline.com 08023938212

who craved anonymity, said the vehicle had earlier developed a fault on the way. He, however, alleged that the driver, Mr. Fred Okonokpa, was quarrelling with the mechanic who repaired the vehicle because he was not given the money for repairing the vehicle directly. The owner of the oil, Mr. Emeka Nwoye, said the tanker had loaded 45,000 litres of pesto oil to offload in Lagos. The Unit Commander, Federal Road Safety Commission (FRSC), Mowe Unit, Oludare Ogunjobi, said his men had taken the tanker off the road and had ensured smooth flow of traffic before the arrival of a towing vehicle.

Some of the rescued children

Madam Cash (middle), Anyadike (right) and another suspect

Pay attention to safety, commissioner urges motorists Muritala Ayinla

agos State government yesterday called on those involved in public transportation, drivers, unions and private individuals to pay attention to safety in order to avert road crashes. The Commissioner for Transportation, Dr Dayo Mobereola, appealed to motorists to observe safety tips as volume of vehicles travelling in and out of state continues to rise as a result of Eid-el Kabir celebration. He said: “Do not drink and drive or drive and drink. Do not over speed, observe speed limit and do not over load your vehicles.” While urging drivers to ensure their

vehicles are properly maintained, Mobereola advised the drivers to limit their per day trips to very reasonable levels. “Keep within your human limits while acknowledging the rights of other road users,” the commissioner said. Mobereola, however, advised passengers not to stampede the driver into driving faster. He said: “While the Lagos State government continues its campaign to ensure safer road, it is imperative to state that it is the observance of the laws, regulations and rules of traffic that will ensure safety. “It is the decision of one driver to drive carefully that will improve safety on the road.”

monDAY, September 12, 2016 NEW TELEGRAPH

Ola James Warri

n angry and jealous middle-aged man, identified simply as Ochuku, has reportedly killed his wife’s lover after finding out that his wife has been cheating on him since they got married. The wife, Rose, is being detained in police custody. Policemen from Ugborikoko Police Station in Uvwie Local Government Area of Delta State arrested Rose after her husband allegedly stabbed and killed her lover, Mr. Robinson Otuke. When contacted on the telephone, the Divisional Police Officer of Ugborikoko Police Station, Mr. Yahaya Usman, confirmed the incident. Usman said though he was aware of the case, he

METRO

Jealous husband stabs wife’s lover to death

was yet to be fully briefed on the matter. But a witness, who spoke on the condition of anonymity, said trouble

started when Ochuku, an electrician, began suspecting his wife of having an extramarital affair.

The killing, which occurred on Emebiren Street, Okumagba Layout, Warri, created panic among residents as those living in the compound fled for fear of being arrested. Another source said Otuke, who was Rose’s boyfriend before she got married, refused to cut ties with her and was still having illicit affairs with her after marriage. It was learnt that Ochuko, who had been monitoring Rose on account of her sexual escapades, had warned the deceased several times to leave his wife.

Police must flush out miscreants –Forum Taiwo Jimoh

ewly inaugurated Eminent Persons Forum has called on the Lagos State Commissioner of Police, Fatai Owoseni, to evacuate miscreants hiding in uncompleted buildings on Victoria Island and its environs. One of the elders, Alhaji Fatai Fashola, made the call when the forum was inaugurated at the Iru-Victoria Island Local Council Development Area Secretariat. Fashola said dislodging miscreants from the uncompleted buildings was very paramount to ensuring peace and security in the area. He said: “We believe the police cannot do it alone, we urge the police to work with Iru-Victoria Island LCDA to clear the miscreants who hide and use uncompleted buildings as their hideouts on the island.” The commissioner, who was represented by the Area Commander, Victoria Island, ACP Salem Dogo, said the essence of the forum was to identify with the elders in the community, who could assist the police in building a good working relationship with the public. He said: “The elders are vital in the fight against crime and criminality by providing us information where necessary. With the collaboration of the elders, their advice will help us in no small measure in discharging our duty. “In order to reduce crime in our community was what prompted the Inspector General of Police, Idris Ibrahim, to set up the forum. The IG also

mandated commissioners of police across the country to inaugurate the forum in various divisions under their commands.” On his own, the Divisional Police Officer (DPO), Olusegun Ajamolaya, a Chief Superintendent of Police, said the primary aim of the forum was to enhance police/public partnership. He said: “Another purpose is to improve police community relations and ensure that the citizens are sensitised and their perception about the police changed positively, as we continually strive to build on supportive relationship between the public and the police. “The essence of this forum is to place the security of Victoria Island and its environs in a think tank of eminent persons in partnership with the police on issues relating to prevailing crimes and proffer proactive measures to solving major and other crimes within our area of responsibilities. “Responsible leaders attract responsible followership. It is therefore our belief that each of the elders represents role models by learning from your various experiences.” Ajamolaya also spoke on the issue of uncompleted buildings occupied by miscreants. He said: “We have the map of the buildings and we have the statistics, which we have sent to the state government and they have also written to the owners of the house. “On the police side, we have our foot soldiers who patrol the areas. Whenever we patrol the places and arrest suspects in the

uncompleted buildings, we will take them to court. Already, some of them are in jail. Another elder, Mr. Oyin Jaleyemi, also called on the police to intensify efforts

on the patrol of Eko Hotel area. According to him, some criminals under the guise of operating taxis in the area have been kidnaping people.

Members of the forum

10 escape death in Lagos auto crash Muritala Ayinla

t least 10 people narrowly escaped death yesterday in an accident on Third Mainland Bridge near Iyana Oworo bus stop. It was learnt that a commercial bus with registration number FST 668 XR, summersaulted and landed on a BMW car marked KRD 294 CN. Although there was no loss of life, 10 people were critically injured. The General Manager, Lagos State Emergency Management Agency (LASEMA), Mr. Michael Akindele, warned against over speeding. He said: “The agency received an alert via emergency number of an accident on Third Mainland Bridge inward Iyana Oworo today (yesterday). This prompted immediate activation of the agency’s Emergency Response Team (ERT) to

the scene of the incident. “Preliminary investigation carried out by the ERT at the scene of the incident revealed that a commercial bus (FST-668XR) somersaulted on top of speeds and landed on a BMW car (KRD-294CN). “There was no loss of life recorded. However, 10 people were injured. “The injured victims were treated while some were rushed to the Trauma Centre by the Lagos State Ambulance Service (LASAMBUS). “The agency’s ERT, LASAMBUS, Lagos State Transport Management Authority (LASTMA), Nigeria Police Force and Lagos State Fire Service were the responders present at the scene of the incident for traffic control, crowd control and recovery operation. The vehicles have been cleared off the road for free vehicular movement.”

According to one account, the jealous husband beat up his wife and forced her to take him to her lover, a few metres from their home where he stabbed and killed the man in his room. But another account said the suspect bundled his wife and children into his Toyota Corolla car, drove to Otuke’s house, killed him in the pres-

ence of Rose, returned home with his children, picked a few belongings and disappeared. It was also learnt that when the relatives of the deceased got wind of what had happened to Otuke, they mobilised to Ochuko’s house, thinking he was still there. But when they found out that the man had fled, they destroyed his property and left. At press time, the state Police Public Relations Office (PPRO), SP Celestina Kalu, did not pick her calls to confirm the story. However, Otuke’s body has been deposited at an undisclosed morgue in Warri.

22 kidnappers arrested in Niger Dan Atori MINNA

olice said in the last four weeks they had arrested 22 kidnappers in Mashegu Local Government Area of Niger State. The state Police Public Relations Officer (PPRO), DSP Bala Elkana, told our correspondent yesterday that kidnappers had been terrorising the people of Mashegu Local Government Area and its environs. Elkana said the antikidnapping team set up by the command was able to take the fight to the kidnappers’ den by ensuring that they did not continue their criminality. According to him, 15 suspects were initially arrested. He said: “Just two days ago, we arrested another seven kidnappers and recovered one AK47 rifle with seven rounds of ammunition and one light assault rifle (LAR) with 11 rounds of live ammunition in the same area. “We are not relaxing in

fighting crime in the state. Rather, we have devised a more robust crime-fighting strategy to sustain the successes already recorded by the command.” Elkana said that it was on record that the state was in the past faced with four major security challenges rustling, kidnapping, highway robbery and youth restiveness - but with measures put in place, the challenges had been reduced. Speaking also on the issue of highway robbery, the PPRO said that the dreaded Minna-Suleja Road, where robbers used to terrorise people, had been taken care of. He said: “We receive at least four distress calls on a daily basis. We flood all the roads with police patrol teams strategically located and that alone deter highway robbers and other criminals.” Elkana did not give details of the arrests made since January. He, however, said that the number of arrests made from January till date surpassed that of last year.

Alaba traders arraigned for theft of N16.6m goods Akeem Nafiu

fficials of the Federal Special AntRobbery Squad (FSARS) have arraigned three traders of Alaba International Market before an Igbosere Magistrates’ Court for allegedly breaking into a store in the market and stealing rolls of speaker wire valued at N16,617,000. The accused Nnaemeka Ogbodo (29), Ikechukwu Ude (33) and Chijioke Eze (34), were arraigned on a two-count charge bothering on breaking/ entry to steal and receiving stolen goods. Police prosecutor, DSP Charles Odii, informed the court presided over

by Magistrate Abimbola Komolafe that the traders were arrested following a complaint by the management of Ugo Ventures, owners of the items, about the theft to the Deputy Commissioner of Police in charge of FSARS. The offences were said to be punishable under sections 409 and 326 (1) (2) of the Criminal Laws of Lagos State, 2011. The accused, however, pleaded not guilty to the charges. They were consequently admitted to bail in the sum of N5 million each with two sureties each in like sum. The sureties are expected to deposit N100,000 each with the court registrar.

10 NEWS

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

ATM dispense error: CBN monitors banks’ compliance lBVN linked to customers’ accounts now 36.7m complaining?” In its guidelines for card issuance and usage in the country, released in May 2014, the CBN stated: “All debit entries arising from failed transactions attributable to system-related issues must be auto-reversed. Where auto reversal is not feasible, manual reversal must be carried out within 24 hours.” Fatokun has disclosed that the CBN was working out a framework that would enable it use the Bank Verification Number (BVN) to either blacklist fraudulent bank customers or at least, place them on a watch-list across the banking industry. He explained that before the introduction of the BVN, identification methods previously used in the banking industry were not fool proof, noting that the BVN had now made it easier for the CBN and banks to uniquely identify every customer or to be able to trace transactions when frauds are committed. He said: “I want to assure you that the BVN has assisted us a lot in the banking system. It has assisted us to check frauds, and we are working on a framework, that will enable us if not to blacklist custom-

Tony Chukwunyem

he Central Bank of Nigeria (CBN) is monitoring Deposit Money Banks’ (DMBs) compliance with its directive on the reversal of Automated Teller Machine (ATM) cash dispense errors. CBN Director, Banking and Payment Systems Department, Mr. ‘Dipo Fatokun, disclosed this at the Finance Correspondents Association of Nigeria (FICAN) Bi-Monthly Forum held in Lagos at the weekend. An ATM dispense error is a situation where the machine debits a customer’s account without actually dispensing cash. Fatokun stated that the CBN was out to ensure that no bank flouts the directive, adding that a situation whereby customers complain about ATM non-dispense error and banks don’t address such problems would no longer continue. He said: “Banks should refund such funds electronically. The ATM is a machine, so banks will know when it under-dispenses or does not dispense at all. So, why should people go about

ers, because of some legal implications, but at least to watch-list a customer that is identified to have been fraudulent, or have done what he is not supposed to do across the banking sector.” The CBN Director revealed that the number of BVN linked to customers’ accounts as at August 23, this year, was 36.7 million, while the total number of individual customers in the banks was reported as

ITEM OF IMPORT

CONTINUED FROM PAGE 4

the Peoples Democratic Movement (PDM), Bashir Yusuf Ibrahim, expressed worry that a retired Permanent Secretary could own such amount of money. He stated: "What is Mrs. Jonathan's source of income? It is only in Nigeria that a Permanent Secretary would be worth millions of dollars. The fact that she is reported to have the temerity to take EFCC to court reveals a lot. How much more are the Jonathans worth? The state would have failed in its primary responsibility of protecting lives if it fails to prosecute them because Nigerians die every day

EXCHANGE RATE

AMOUNT

FINE CHEMICAL NIGERIA LIMITED

RAW MATERIAL FOR INDUSTRIAL USE: POLYPROPYLENE

9-Sep-16

311.00

16,861.56

NWACHUKWU OZIRI

SCHOOL FEES

9-Sep-16

311.00

DATE OF FUND PURCHASE

1,274.90

ADELOLA ALALE

SCHOOL FEES

9-Sep-16

311.00

55.35

ADEBOWALE BENSON

PTA

9-Sep-16

311.00

1,500.00

OLUTOYE TEMITAYO

PTA

9-Sep-16

311.00

4,000.00

KONYEASO IHEOMA

PTA

9-Sep-16

311.00

3,000.00

MAREX EYE CENTRE/OVONLEN MARY

PTA

9-Sep-16

311.00

107.00

RETURNS ON SOURCE OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY SEPTEMBER 9, 2016 SN 1

SOURCE

DATE OF PURCHASE

EXCHANGE RATE

AMOUNT

9-Sep-16

310.50

26,798.81

AUTONOMOUS SOURCES

Payments System and Implications for Consumers of Electronic Payment Services”, said the apex bank had been at the forefront of the transformation of the payments system in the country, which has been demonstrated through the development of the Payments System Vision (PSV) 2020 document in 2007 that was reviewed in 2013. He said the PSV 2020 strategy was aimed at providing a roadmap for efficient payments system infrastructure that would be

nationally utilised and internationally recognised. “The payments system plays a very crucial role in any economy, being the channel through, which financial resources flow from one segment of the economy to the other. In setting out the objectives of the National Payments System (NPS), the goal is to ensure that the system is available without interruption, meet as far as possible, all users’ needs, and operate at minimum risk and reasonable cost,” he said.

$34.1m: Nigerians demand Jonathan, wife’s prosecution

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY SEPTEMBER 9, 2016 SN CUSTOMER

59.9 million as at the same date. “Any bank customer resident in Nigeria without a BVN would be deemed to have inadequate KYC, while effort is on-going to ensure that customers of Other Financial Institutions (OFIs) such as Microfinance Banks (MFBs) & Primary Mortgage Institutions (PMIs), brought into the system, begin to get their BVNs,” he said. Fatokun, who spoke on the theme: “Recent Developments in the Electronic

She’ s ready for School. Are you ready for her?

...Convenience and Reliability

from common diseases." Anti-corruption crusader, General Ishola Williams (rtd), said the ex-first lady must prove the ownership of the money. “What is interesting in the present case is that the former first lady had come out to claim the money in question. That is what I call braggadocio and I can’t really believe it. By doing this, she has set a trap for herself. So, we should allow the court to decide why the money should be seized or otherwise. “She must prove documentarily how she came about the money. It is a very, very interesting case and I am so happy that she did that,” Williams said. Chief Chekwas Okorie, the national chairman of United Progressive Party (UPP), said the law should take its course in the matter. “It is unfortunate that such amount of money could be traced to her because it is clear to everyone that she had no means either before or after office from which such huge sum could have been generated. What tax was she paying if she had such amount? So, let the law take its full course and she should prove how she generated the money. “Nobody should be above the law. If there are incontrovertible evidence that he dipped his hand into the public treasury; he should face the law because nobody should be above the law.” Dr. Chukwuemeka Ezeife, a former governor of Anambra State, told New Telegraph that the graft war should be holistic. He said that the wife of the former president should not be singled out for prosecution. “I feel there is more corruption in the system than before because some people are exploiting their offices. The war against corruption should be holistic. It shouldn’t be a tool to witchhunt perceived members of the opposition. “The former first lady should not be singled out

for prosecution, while leaving some people who are close to the president and have equally been accused of corruption.” Former Lagos State Commissioner of Police and anti-corruption crusader, Alhaji Abubakar Tsav, said Nigerians demand explanation on the source of the money. “If she said the money is hers, she needs to explain how she got it. She wasn’t controlling any political position when they were in power. She was known to be a permanent secretary in Bayelsa State. If I were her, the best thing to do is to explain how I got the money. She might have gotten the money from contractors who needed her favour. At present, there is nothing to investigate, because nobody has complained that she took their money,” Tsav said. Chief Ralph Obioha, a Second Republic member of the House of Representatives, said: “The volume of the money ascribed to her is suspicious. There should be a thorough investigation and after that, if the fund traced to her were obtained under illegal or fraudulent means, then she can be prosecuted because everybody is subject to be accountable.” Dr. Dozie Ikedife, a former President of the Ohanaeze Ndigbo, stated that there is no evidence yet that Mrs. Jonathan stole the money. “I don’t know how she made the money and I can’t imagine how she made such money. Did she make the money through her salary, business or as a gift? She should give explanation on how she got the money. “I am of the view that it is vicious for anybody to say that she should be prosecuted because of the amount of money in her account. There is no evidence to prove that she stole any money. If there is evidence that she stole money, she can be prosecuted but if not, we should leave her alone. There is no law in Nigeria that states that

people should not have huge amount in their account,” Ikedife said. The Ijaw National Congress (INC) said it was not against the probe of anybody with alleged corruption case to answer, but alleged that the probe by the Buhari administration has been selective. The publicity secretary of INC, Miebaka Tamunomiebi, said that Ijaw sons and daughters were being targeted for probe, noting that people linked to corruption that are in the corridors of power are not facing probe. He said: "Anything corruption is condemnable, but the probe is selective. The present action by the Federal Government as regards corruption is antiIjaw. There are some people that deserve to be probed, but are walking freely. It should not be the case." Senator Sonni Ogbuoji (PDP, Ebonyi South) said that it was illegal for EFCC to have frozen the bank accounts belonging to Mrs. Jonathan. "EFCC's action is illegal. You have to prove that the money wasn't earned through proper channels," Ogbuoji said. Senator Ben Bruce stated that it has not be established that the ex-first lady has committed any offence. His words: "That Dame Patience Jonathan has money in the bank is not a crime. Where else should money be? A crime is only committed if it is established that the money is derived from illegitimate sources. If the EFCC has evidence that anybody has committed a crime, then the proper place to run to is the court, not the press. I choose to make my words few while we watch this issue unfold itself.” The Conference of Nigerian Political Parties (CNPP) and the Citizens' Popular Party (CPP) said there was nothing wrong in the present administration probing Jonathan and his wife, so far such probe will be extended to other former presidents and heads of state who are still alive.

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Edo decides Withdrawal: Kowa sacks candidate

Politics The gathering storm Interview

APC yet to cut cost of governance – Agbakoba

The race for the 2017 governorship election in Anambra State has swiftly commenced as perennial candidates strategise to unseat the ruling All Progressives Grand Alliance (APGA) in the state, FELIX NWANERI reports

he political cloud is gradually gathering for another tough battle over who occupies the number one position in Anambra State as the various gladiators across the political parties strategise for the 2017 governorship election in the state. Although some analysts have described the respective moves by the political early birds as too early on the grounds that Governor Willie Obiano have till March 2018 to be in office, those angling for his seat believe that it is time to start building political bridges if they are to wrest power from the ruling All Progressives Grand Alliance (APGA) in the state. Already, the signs are that the forthcoming poll would not be a departure from the past, where governorship polls in Anambra are keenly contested like presidential elections in most African countries. This is not unconnected to the vast majority of indigenes of the state who at various times, have tasted power and most importantly, have the financial muscle to embark on expensive political projects like the governorship contest. As these political heavyweights oil their machineries and structures for the battle of the titans, the incumbent governor, Obiano, is definitely not oblivious of the onerous task ahead of him as he strives to equal the record of his predecessor – Mr. Peter Obi – as the second person to be elected governor twice in the history of

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Obiano

Uba

Ngige

Ekwunife

the state. As it stands, there is enthusiasm among the electorate in Anambra as they wait for the four year tenure of Governor Obiano to elapse, so that they can either give him a nod of satisfaction with a second term or bid him farewell by electing another person. Some people in the state believe that Obiano has done well by building on the foundation led by Obi, especially in the area of infrastructure, and so deserves a second term. To those who hold this view, the governor’s achievements within the last two and half years he has been in power are enough to guarantee him a second term. But there is another political school that believes that the governor is beatable. Members of this group point to some policies of his government, which they say are “harsh.” They also argued that electoral victories are not determined by achievements but several other factors. Therefore, to members of this political school, Anambra 2017 governorship contest is open. They premised this assumption on the lingering crises bedeviling almost all the major political parties in the state.

Obiano has done well... But there is another political school that believes that the governor is beatable

According to them, with APGA in crisis, Peoples Democratic Party (PDP) in shambles and All Progressives Congress (APC) yet to be totally acceptable in the state, those aspiring to contest the poll will do so on personal strength as none of the political platforms could be said to have an edge over others. While most of the aspirants seeking to unseat Obiano are keeping it to themselves, investigation by New Telegraph revealed that familiar names in Anambra gover norship contest since the inception of the present dispensation are up again for another shot at the coveted position. They include Senator Andy Ubah, ex –Governor Chris Ngige, Prof. Chukwuma Soludo, Senator Uche Ekwunife, Ifeanyi Uba, Hon. Tony Nwoye, Chief Osita Chidoka, Chief Nicholas Ukachukwu, Chief Godwin Ezemo, Dr. Obinna Uzor and Chief George Muoghalu. Interestingly, most of the aforementioned, if not all, are financial heavyweights, which imply that they will give the sitting governor a run for his money and consequently make the contest interesting.

Willie Obiano The incumbent governor of Anambra State was elected on the platform of APGA in 2013. He hails from Aguleri in Anambra East Local Government Area of the state. His emergence was greatly influenced by his predecessor (Obi) who fought to ensure he was elected. Part of the sentiments Obi raised that worked for Obiano was the seeming marginalisation of the people of Anambra North Senatorial Zone as regards the governorship position of the state. However, upon assumption of office, Obiano fell out with Obi which has greatly diminished his chances of getting the type of support he got from his benefactor in the last election. The intractable crisis in APGA is another problem the flamboyant governor may face in his battle to return to government house after his first term. Some people also believed that his policies and decisions in the last two years are anti-people. The tax regime of his administration is seen by the business community as harsh. Many also wonder how the banker turned politician, who they described as a green horn in politics will contend with the political heavyweights. No doubt, Obiano’s political experience cannot match that of the other contenders but one thing that may work in his favour is the power of incumbency. His achievements will also boost his chances and it would be easier to rally members of his party as there won’t much crisis to manage after the primaries given the fact he is the anointed candidate, at least for now. Andy Uba The senator representing Anambra South in the National Assembly was elected governor of the state in 2007 but served for just three weeks before he was removed by the court on the ground that there was no need for the election that saw his emergence as the then governor (Obi) was yet to serve out his tenure. The former presidential aide, who hails from the Uba political dynasty in Uga, Aguata Local Government Area of the state, has never given up his ambition of leading Anambra State after the 2007 botched bid. He launched another shot at the governorship of the state on the platform of Labour Party (LP) in 2010 after losing the PDP ticket to Prof. Soludo but lost the election to Obi. Uba would be banking on the political structure that he has CONTINUED ON PAGE 13

POLITICS

Stories by Cajetan Mmuta BENIN

he national leadership of Kowa Party, yesterday, said it has dismissed its governorship candidate in Edo State, Mr. Thompson Osadolor, from the party over his sudden withdrawal from the election and endorsement of the candidate of the Peoples Democratic Party (PDP), Pastor Osagie Ize-Iyamu. National Youth leader of the part, Mr. Jude Feranmi, who disclosed this to journalists in Benin, said that party’s leadership is currently consulting with its legal advisers on the legal implications of Osadolor’s action and the next steps to take. His words: “We are appalled by the decision taken by the candidate

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Withdrawal: Kowa sacks candidate

and his campaign team due to the financial challenges posed by the postponement of the elections for another two weeks. It is unfortunate, embarrassing and a direct opposite of what our party represents. “Osadolor's action and that of his campaign team is without consultation and against the guidelines of our party both at the state level and at the national level. What we represent as a party is a clean break from the models of governance and patronage system of politics that is currently entrenched in the People’s Democratic Party and the All Progressives Congress. “A similarity in the manifesto of a party does not therefore represent a sufficient and neces-

sary criterion for an endorsement by our party. Comrade Mark Adebayo, who heads the national secretariat of our party, has thereby issued a notification of dismissal to Barr Thompson Osadolor, authorised by the entire BOT/NEC of the party, which takes effect immediately. He does not therefore qualify to bear our flag in the forthcoming elections for the governorship elections on September 28. “The appropriate bodies including the Independent National Electoral Commission (INEC) will get our letters of notification to this effect on Wednesday due to the public holiday. We are therefore urging our supporters to hold the fort and continue to propa-

Edo DECIDES

gate our message to rid Edo State of the political class that is responsible for the rot it is currently experiencing.” Osadolor, had in announcing his withdrawal from the contest, said his decision was informed by the impact of the postponement of the poll by INEC. He condemned the postponement, saying INEC's failure to hold the election on September 10

as earlier scheduled had a destabilising effect on his campaign. His words: “I am not satisfied with the postponement of the election. They (INEC) knew that we would win the election; that was why they postponed the election. Having done that, they have destabilised us. That is one of the reasons we withdrew.” Besides withdrawing from the race, Osadolor announced his endorsement of the candidate of Ize-Iyamu and called on all KOWA supporters to cast their votes for the PDP as according to him, the PDP

Obaseki promises better days ahead

Obaseki

Onaiwu

Ize-Iyamu

PDP to electorate: Remain focused on regime change

he leadership of the Peoples Democratic Party (PDP) in Edo State has urged the people of the state to stay focused on their resolve to effect a change of government with a view to liberating themselves from what it described as “the shackles of an insensitive and visionless government.” A statement issued by the State Publicity Secretary, Mr. Chris Nehikhare, quoted the party leadership to have expressed appreciation to party members across the state and beyond, for their doggedness and resourcefulness in spite of all odds, in the run up to the September 10 governorship election which was intriguingly postponed at the last hours. The party leadership, according to the statement, further said: “We also wish to thank Edo people whose overwhelming support for the PDP in our mutual desire to effect a change of governance for the liberation of our people from the manacles of an insensi-

tive, irresponsible and visionless party, has been our inspiration and encouragement. “Our profound appreciation also goes to the media which has enabled us to make our voice loud and clear, and our presence felt. We want to implore all and sundry not to be overwhelmed by the disappointment this ill-moti-

vated postponement must naturally have caused. “Our enthusiasm to partake in the voting exercise, which apparently was one of the objectives of the postponement, should not be dampened. Rather, this rude interference should serve as a challenge to rededicate ourselves to the goal of repositioning our state

through the ballot by voting to change the change, which has made us almost miserable. “September 28, the new date for the election, is around the corner. On this day, Edo people must make those that seek to subjugate or subvert their will know that on this matter, we are unbending and inconquerable."

Group endorses APGA candidate President of the ND- money because there are socio-political group, A the Niger Delta YSS, Osarodion Ogieva, bigger parties that can Youths South- South [ND- said: “As a body, we took give you money but you YSS], yesterday, threw its weight behind the governorship candidate of the All Progressives Grand Alliance (APGA) in Edo state, Mr. Osaro Onaiwu. Members of the group said they arrived at the decision after a critical examination of Onaiwu’s profile and those of other candidates and their parties, adding that the APGA flag bearer a remains worthy character to identify with in the governorship race in the state.

the pain to look round all the parties and we didn't want to make any mistake because whatever choice we make today as regards endorsement has to do with our future.” The APGA candidate in his response commended members of the group for their gesture, which he noted has further given boost to his governorship project. His words: “For you people to endorse me, it means you have gone round, it is not about

rejected them or refused to associate with them because both the All Progressives Congress (APC) and Peoples Democratic Party (PDP) have failed Edo people.” Onaiwu promised to ensure effective and all encompassing transformation of the state if elected. “I want to assure you that during my tenure, Edo State would be transformed and everybody will be happy as a person residing in the state,” he said.

is a better alternative because of the similarities between the manifestos of both parties. “Because of the postponement of the election, I met with my campaign team; we decided to harness our campaign with that of the PDP. Our manifesto and that of the PDP are very similar and I think we will be able to work together. We reached an agreement with the PDP that we are going to run an inclusive government. PDP did not make any financial commitment to us. We do not have any financial agreement,” he said.

he gover norship candidate of the All Progressives Congress (APC), Mr. Godwin Obaseki, while congratulating the Muslim faithful across Nigeria on the Eid-el Kabir celebration, has assured Edo people of better days ahead. Obaseki, in his Eidel Kabir message, expressed optimism that Edo State and Nigeria in general will rise above the current economic challenges confronting her, and become a truly prosperous state where every citizen is empowered with opportunity to live life in its fullness. His words: “I congratulate our Muslim brothers and sisters on the occasion of the Eid-el Kabir celebrations. Edo State and, indeed, Nigeria as a whole is filled with so much potential for greatness, and I have full assurance that with sustained good governance and greater creativity

and efficiency in exploiting our vast human and natural resources, we can guarantee a better, more prosperous future for our people. “Edo State belongs to all of us, and it is in our interest and that of our children that the state continues to progress. As we celebrate the Islamic Feast of Sacrifice, let us remember our dear state and country in our prayers, and continue to support the efforts of government towards building the Edo of our dreams.” The APC flagbearer used the occasion to also preach peace and unity among all Edo people saying: “Let us set aside the things that divide us, and show more respect and tolerance to one other, irrespective of our religion, tribe or political leanings as we work together to steer our state on the sure path to prosperity.”

We're positioned to sack APC – Ikimi

ormer Foreign Affairs minister and member Board of Trustees of the Peoples Democratic Party (PDP), Chief Tom Ikimi, yesterday, expressed optimism that the opposition party will win the Edo State governorship election, irrespective of the postponement by the Independent National electoral Commission (INEC). He said the PDP will garner massive votes to cripple and shock the ruling All Progressives Congress (APC) and its leadership cannot contemplate contesting the outcome of the exercise on September 28. Chief Ikimi who stated this while addressing newsmen in Benin, the Edo State capital, said

the new date for the governorship election guarantees security for all, so voters are better assured that they can come out and exercise their franchise. According to him, "there is nothing to fear, security is everywhere, the leadership of our party is equal to the task and we shall win these elections resoundingly. The level of winning will be such that APC will not be able to contest the victory. “We are now at the threshold of the election. We brought Governor Adams Oshiomhole seven and a half years ago and we are now determined that he should give way for Pastor Osagie IzeIyamu as his successor.”

Politics

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Perennial candidates gearing to battle Obiano C O N T I N U E D F R O M PA G E 1 1

built over the years going into the 2017 poll. He is also expected to enjoy the backing of the national leadership of the PDP. The Senate Committee Chairman on Public Accounts also has a deep pocket, which plays a big role in elections. While Uba is the favourite for the PDP ticket, he however has his brother, Chris – the selfstyled godfather of Anambra politics to contend with. While the latter is not likely to join the governorship race, there is no doubt that he would support the latter’s ambition. Reason: Both have running supremacy battle over who controls the PDP in the state. Another factor that may work against him is the insoluble crisis that have bedeviled PDP in Anambra State as well as the ambition of other political heavyweights like Prof. Soludo and Nicholas Ukachukwu, who hail from his zone. Chris Ngige The current Minister for Labour and Employment is the arrowhead of the All Progressives Congress (APC) in the state. Ngige served as governor of Anambra state on the platform of PDP between May 2003 and March 2006 before he was removed by the court. He later represented Anambra Central Senatorial Zone on the platform of the defunct Action Congress of Nigeria (ACN). Ngige remains one of the state’s popular politicians given the way he draws crowd wherever he goes. While some say he earned his popularity from his good works within the three years he stayed in office as governor, others are of the view that his battle with political godfathers which redefined Anambra politics elevated him politically. No doubt, Ngige is not a pushover in Anambra politics and will enjoy the backing of the ruling APC leadership if he throws his hat in the ring but he will face a Herculean task of convincing Anambra people to believe in his party. The people of the state and South-East in general are yet to accept the party. Most analysts are of the view that it would have been easier for Ngige if the APC was able to retain the membership of Ekwunife, who contested the 2015 senatorial election on the platform of PDP and defeated both Ngige of APC and her closest rival, Chief Victor Umeh of APGA but later had her election nullified by the court. The Labour minister will also contend with opponents from his zone – Anambra Central, including those who would be playing spoilers’ game. Chukwuma Soludo The erudite scholar and former governor of the Central Bank of Nigeria (CBN) was the candidate of PDP in 2010 governorship election in Anambra State. But after losing to Obi, he left the PDP and in 2013, he aspired for APGA’s ticket but was disqualified by the party. As it stands, nobody knows Soludo’s stand in the next governorship election as it concerns his political party

Nwoye

Chidoka

because he is still floating after the APGA move but many in the state are yearning for him to take another shot at the governorship given his intellectual prowess. Uche Ekwunife A two time member of the House of Representatives for Anaocha, Dunukofia/Njikoka federal constituency and later senator for Anambra Central, Ekwunife has made name in Anambra politics. She is a great mobilizer and possibly has the widest grassroots supports in the state. She won the 2015 senatorial election on the platform of PDP, defeating her closest rivals, Ngige and Umeh but later had her election nullified by the court of Appeal. Her lost at the court attracted sympathy for her, especially from the women folk, who felt she was vilified because she is a woman. She later sought protection in the APC and was denied the party’s senatorial ticket to return for the yet to be conducted court ordered rerun. Analysts had thought that APC would cash in on Ekwunife’s entrance into the party because of her popularity and political experience; the party denied her its ticket and consequently lost the experience she would have brought to bear in building APC in the state. As the 2017 race gradually gathers momentum, Ekwunife is no doubt one aspirant to watch because of her popularity. She is also not new to the governorship race having contested the position in 2010 on the platform of the Progressive People Alliance (PPA). But Ekwunife seems to be confronted with some obvious facts that it is not going to be an easy road when she steps out to contest the forthcoming governorship election. One of her major challenges would be funding. She is not as rich as others, who are no doubt billionaires. Though she enjoys the people’s support, she still needs the financial muscle to be able to stand her male counterparts. Another challenge which is obvious is her gender. Being a woman, it would be difficult for the people of the state to accept her as governor but the impact made by Senator Aisha Alhassan in the 2015 Taraba State governorship election could serve as a source of inspiration.

Obiano is definitely not oblivious of the onerous task ahead of him as he strives to equal the record of his predecessor

Ukachukwu

Ifeanyi Uba The businessman turned politician, who hails from Nnewi, Anambra South Senatorial Zone is member of the PDP. He contested the last governorship election in the state on the platform of Labour Party. He was the coordinator of Transformation Agenda of Nigeria (TAN), which worked for the failed second term bid of former President Goodluck Jonathan during the last general elections. It was reported in May that he had declared interest to take another shot at the governorship but he quickly came out to disclaim the report, saying he only stated the need for the polity not to be overheated as that could cause a distraction to the incumbent governor. While it is too early to say that Uba has foreclosed his governorship ambition some say he is only waiting for the “right time” to step on the stage. Though he has the financial muscle to make things happen, some analysts still believe that he lacks experience and structure to win a governorship election. Tony Nwoye The youthful lawmaker representing Anambra East and West in the House of Representatives has some strong points to launch another shot at the governorship of the state after contesting the last election on the platform of PDP. The medical doctor, politician and former student activist, who was elected on the platform of the PDP to the House but recently defected to APC has always enjoyed the backing of oil magnate, Chief Arthur Eze, and it is believed that his political move was aimed at positioning him for the governorship race. Though youthful, Nwoye, who hails from the same local government area as Obiano, would be banking on experience having served as PDP chairman in the state at time. He is also likely to enjoy the backing of youths but the question is: Will the likes of Ngige give room for him to pick the APC ticket? Osita Chidoka The former Chief Executive of the Federal Road Safety Corps (FRSC), who later became Minister for Aviation under

the former administration of President Goodluck Jonathan, is a new entrant into the Anambra governorship race. Chidoka hails from Obosi in Idemili North Local Government Area of the state and many believe that though he had a rapid growth in politics to have reached the position of a minister, he is still seen as a green horn in the politics of the state. Besides experience, others believe that Chidoka would be taking a political gamble as it is not going to be an easy game given that the likes of Nigige and Ekwunife, who are also from Anambra Central are nursing the same ambition as his. Nicholas Ukachukwu The businessman turned politician has traversed several parties in his quest for the governorship of the state. They include PDP, APGA and Hope Democratic Party (HDP). Despite his financial muscle, Ukachukwu has not been able to make it to the government house but he is not giving up. He contested under different platforms and lost. His last outing for the governorship was in 2013 when he contested on the platform of PDP and when he lost the ticket to Nwoye, he went to APGA and also lost the ticket. Ukachukwu hails from Osumoghu in Nnewi South Local Government Area in Anambra South. Many people believe that each time he comes out to contest for any election, he always comes to make sure he destabilize the Uba political dynasty, a power bloc he says has held the people of Anambra South hostage for many years. He may not necessarily be contesting to win but on a vendetta to ensure Senator Uba does not succeed in the contest. For him, the election is not a serious business but he must contest. Godwin Ezemo Another political journey man, Ezemo hails from Umuchu in Aguata Local Government in Anambra South. He was part of the formation of the APC but left the party when he lost the party’s 2013 governorship ticket to Ngige for the PPA, a platform on which he contested the governorship election.

POLITICS \ MONDAY INTERVIEW

Olisa Agbakoba (SAN), a pro-democracy activist and former President of the Nigerian Bar Association (NBA), in this interview, speaks on the recession in the country and the way out of it. He also speaks on the need for President Muhammadu Buhari to exert political will as against moves to enact an emergency power bill. WALE ELEGBEDE reports Nigeria has been declared to be in recession. What is your take on that? Nigeria has had a decline in economic fortune which is measured by quarterly performances. From Q4 2014, we've been going downhill. So, one would have thought that such type of figure would call attention to policy makers that something is wrong. But with this recent second quarter announcement by the National Bureau of Statistics (NBS), it is confirms that Nigeria is now in recession because we've got two successive negative contractions and that is what it is. We have this complicated, endemic, malignant, metabolic economic syndrome. And to say that and proffer no solution doesn't help. The single biggest culprit in our predicament is the banks. When the United States had the great depression in the 1930's, the banks were busy speculating and trading, but the president at that time, Franklin Roosevelt, said no and he got the Congress to pass a law, the Glass-Stegall Banking Act, strictly restricting what banks can do. The work of a commercial bank is to lend but if you don't regulate, things will go haywire. The problem is that the Central Bank of Nigeria (CBN) needs to have more cohesion in regulation, and the truth is that it is not easy. In the United Kingdom, their own apex bank, Bank of England, created a special supervision agency, called the Prudential Regulatory Authority that is all they did. No nation can afford not to regulate. But part of the cohesion in regulation of banks is the introduction of the TSA policy? Has it occurred to you that the Federal Government of Nigeria is the biggest generator of money yet they cannot control the rate at which the money is lent? They put the money in the banks and the banks lend the money back to the government at very high rate, that is ridiculous. So, in order to deal with that problem, the government threw the baby and the birth water out by depriving banks of liquid cash called the Treasury Single Account (TSA). But that is not the solution because the TSA funds are sitting idle doing nothing. But what the government should have done is to tell the banks that this is our

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

APC yet to cut cost of

Agbakoba

money and we are giving it to you and the lending rate is three per cent. So, our biggest challenge is the financial sector. Aside that, the second biggest challenge we have is that we don’t have a body of economic advisers. The only body constitutionally recognised in Nigeria is the National Economic Council and they meet once in a while for a type of circles. That is a body that has absolutely no business directing the economic affairs of the country. So, we need to have a council of economic advisers, made up of experienced mixed of people and they will be the ones to plan the model of the economy. That absence is one of the reasons why we have non-cohesive economic policy. Thirdly, we also need to create a situation where monetary, fiscal and trade policies are clear. I don’t understand how the Central Bank thinks that without printing dollars it can control the FOREX, it can’t. Diaspora returns into Nigeria every year is in excess of $20billion, where does it go? It round trips because the CBN thinks it can regulate. So, the CBN needs to do what is called quantitative easing, which is easing the pressure by which people assess money. Another point is what is the strong

If they are all flying private jets and still driving 25-car convoy...then they have not reduced cost of governance

reason why banks can't do single digit? Banks have that public trust responsibility to assist the government to grow the economy but the government will not be able to do this unless there is a raft of relevant financial services institutions and laws. I can tell you that 40 years as a lawyer, no bank has given me a dime. Yet, I have borrowed heavily from British banks, so there is something wrong if a person at my level can't access cash, so who are the people accessing cash, because we need cash to grow business. What can we do to get out of the recession? If we have to get out of the recession, I can recommend what Roosevelt did back then during the great depression period in America; he summoned Congress and made a great proclamation and said we have to fix this economy. I will appeal to the president not to consider this emergency power that is being proposed for a number of reasons. When we had this recessionary trend under former President Shehu Shagari, the Economic and Financial Stabilisation Act passed which is almost the same thing as this emergency bill, failed. So, the way out is not in an act but in policy. All the leakages in our policies simply require a strong

president. There is only one way out of recession, it is massive bouncing of the economy. We must spend our way out of recession. When you go to the hospital and the doctor says you’re anaemic, only one thing is done – transfusion. So, how can the government present an austerity programme? You have to bounce the economy. Niger Delta is crying for money, South-East is crying for money, we all know that South-West is crying for money, so, you have public works to spend money on. You will be surprised if there’s a situation where Julius Berger and co are given contracts to build roads and you say for every contract, you must have 10 per cent labourers, you will find that the economy will slowly revive. But unfortunately, I am not seeing those things and if it doesn’t happen, we will be looking at a very long term, because a recession cycle is three years, but great economics, like the former Minister of Greece, can make it; we can recover by Q2 2017 but that requires applying the best possible method. Government should give TSA back to the banks at single digit rates and supervise the banks; I recommend a lending base C O N T I N U E D O N PA G E 1 3

POLITICS \ MONDAY INTERVIEW

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

governance – Agbakoba of five per cent. Also, the CBN must be limit its responsibility to monetary policy and take away banking supervision to new prudential regulatory authority and banking ethics to new financial conduct authority. If banks focus on lending and not trading, money will flood the system for productive value.

What is your take on the proposed Emergency Power Bill? I will appeal to the president not to consider this emergency power that is being proposed for a number of reasons. When we had this recessionary trend under former President Shehu Shagari, the Economic and Financial Stabilisation Act passed which is almost the same thing as this emergency bill, failed. So, the way out is not in an act but in policy. All the leakages in our policies simply require a strong president. There is only one way out of recession, that is, a massive bounce of the economy. There is a conception by the policy makers that an emergency power for the president would mean that they can jump start the economy, that very notion is wrong. Those who have dealt with recession didn’t pass any law to say give president emergency power. But what you do is to identify the right policies, either fiscal, monetary and trade. Secondly, you must have the right people who understand how to move forward. But the emergency powers is being sought to quickly reflate the economy and speed up things like procurement? If the emergency powers will speed up things like procurement, then it is fine. But if it is to strip the National Assembly of its constitutional authority to appropriate money, then it is wrong and I personally will go to court. The Emergency Power Act, the way I see it is simply to allow some of the processes to go quicker. You will recall that the Minister of Finance created efficiency unit in her ministry. I’m not sure that the Emergency Power Act will do what we think it will do, it is what the president determines. If the president says I want this procurement approved in 24 hours, then it will be done. So, the Bill doesn’t do anything, it is the political will that the president exerts that I think its more important. If I were the president's adviser, I am going to be pumping something like about $50 trillion. You may ask where would we get it from, then the answer is to be found in some of the writings of Henardo De Soto. Foreign aids has not help anybody but the total number of housing stock in Nigeria us about $7trillion, it is dead capital because if I want to take a loan from a bank, and they ask me where is my collateral, and I mention my house address, and they ask me for my document and I say I don’t have because the government has not signed the C of O. So, it is useless. I have always said we must invest in the housing stock to capital, so it becomes fundable,

it's movable. When I buy a house in the United Kingdom, the moment I am doing so, it is already registered in the land registry. So, there is movement of cash and commodity, and it is swelling in such speeds, than you see money, what is needed is swift action. You know that people measure a president's performance by the 100 days thing, a concept that came from Roosevelt who passed 100 bills in 100 days. The first thing I will do rather than encouraging the president to pass an emergency power bill is to pass the equivalent of the Glass-Stegall Banking Act. Tell all the banks to lend in this particular direction, that is the only way you can have banks conform. Why is it that in this recession banks are declaring billions and billions of naira profit? How come they are not going down? It is because they collected all our monies and they lend it in ridiculous rates, and give it to a few people. So, we need a law compelling banks to do banking works not trading. If I went to a bank today with a government guarantee LPO for the supply of a 100,000 metric tonnes of Premium Motor Spirit(PMS), the banks will jump at it because that is what they want. But if I went to the bank to say I need to import machinery, they won't budge. So, its clear that we have a problem but we should not just look at the problem, we need local solutions.

But the question that readily comes to mind is where did the rain start to beat us as a nation touted to be biggest economy in Africa? You know if you are driving in a car and you keep looking at the rare view mirror, you are not going nowhere, that's an African problem, if you are driving a car

Agbakoba

I challenge the EFCC to say this is how much we have recovered and this is how we have deployed it

rather than focus on the road, you are looking at somebody chasing you, you are going nowhere, so am not interested in the past, I am not interested in every dog that barks to stop to fight it. I am interested in the problem that is facing me today. So, rain beating us can be said to be in 1914, so its unhelpful to go back to history. The better option is to say what we can do to get out of recession. What is however painful is that we shouldn’t be in this position at all because we have sufficient capacity, we have resources to generate business and do all kinds of things. The big problem is for the policy makers to understand that politics is secondary to governance. All I hear is the People Democratic Party (PDP) and All Progressives Congress (APC) knocking each other. By the way, the PDP isn’t a party, its not an opposition party; its dead. There is a coffin that has been brought to bury it and put it into the ground. The APC on its part, its made up five or six component, everybody knows the APC is not functioning, unless you don’t know it. In real terms, we have no parties, and that is the problem. And it is the party machinery that creates policies that drives government. That is why surprisingly, I told my wife that it is good that Donald Trump is in the race for the US presidential election because it gives the AfricanAmericans the opportunity to tell Hilary Clinton that she should not take them for a ride. I don’t want Trump to win but it sets up political pluralism, which is so critical to governance. The APC government knows that the PDP are jokers and that on current form, inspite of this recession, 2019 they will just return; why would they work hard now? But if both parties are grabbing our attention, not about who is going to occupy an office, but about policy. So, presently, our party are not strong enough. Are you seeing the effort of the government in cutting cost of governance? They haven’t cut cost, honestly no. The need to be frugal hasn’t manifested clearly. If they are all flying private jets and still driving 25-car convoy and still having security votes, then they have not reduced cost of governance. I am sure if all the governors' put their security votes together, we would probably get about N500billion. So we need to see frugality, it is one of the conditions upon which many Nigerians will be prepare to take a fiscal policy of the Minister of Finance in raising taxes. When Mr. Fowler introduced this N50 stamp duty, it produced N50bilion. But we have to have the confidence that those who are making us go through pains are also going through pain. Its got to be reciprocal. But if we are going through pains, I don't know why they smile at the Federal Executive Council meetings. I don't know why they smile when there are serious businesses hanging, it is a wrong impression.

They are only telling us that we are onlookers; there is no link between us. We are looking at them on television, in the newspapers, they need to get real, they need to come down to earth and feel the pains that we are feeling because it is only we are feeling the pains. If they feel the pain like most of us are feeling the pains, they would get real. But a lot of them don't know what the pain the masses are going through because they are served free food. They need to be frugal. All we are hearing in the National Assembly is billions of naira. What is your take on the war of words between the Economic and Financial Crimes Commission (EFCC) and the Nigerian Bar Association (NBA) chairman over the prosecutorial role of the former in corrupt cases? The issue is that corruption has become endemic and NBA are a set of professional doctors looking at a very sick patient and we then say could it be that we are giving a wrong medication, could it be that EFCC since its inception, should we step back and take a fresh look at whether the three functions they do; investigation, prosecution and asset recovery. How can we have assets that are still hanging outside the country years after Abacha died? So, the NBA then said through our president, who did nothing more than say maybe we need to think in such a way, he never say the EFCC shouldn’t prosecute. By the way, I sympathize with the EFCC for the reason that they are underfunded. I will not work for the EFCC under the present condition, so we need to even salute them that they are even hanging in there. But that does not justify the fact that they are underperforming. If they are performing, how much have they recovered? That is the interrogation we want to carry out. The EFCC must be able to make prosecutorial decision, they tend not to do this. They are charging everybody, jumping everywhere and getting nothing. So, we then say, maybe we can strengthen the prosecutorial process by taking that job away. In England, it is called Crown Prosecution Service and the Attorney General focuses on driving prosecution. So, can that work here or not, was the issue. Unfortunately, the EFCC took his personal and decided to hurl insults at us, but we are not bothered about that. If this country is in recession, is the EFCC assets recovery department not a good source of alternative revenue? We are hearing of billions and we haven’t seen anything. I challenge the EFCC to say this is how much we have recovered and this is how we have deployed it. EFCC has to be more accountable and they must tell us what they have recovered. From what we know, about 90 per cent of our money is stolen, so the EFCC is amassive income earner if work is properly done. So, that is the question our chairman raised during the conference.

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Opinion

The principalities Buhari should exorcise Dominik Umosen

he enormity of restoring the country’s economy that has been knocked over by decades of mindless pillage and strategic cluelessness may not restrain swaggering political principalities from superimposing mischief on this laudable objective by President Muhammadu Buhari. The presumption was that after being stopped from embarrassing the administration by unilaterally recanting promises, they would have retreated in dignity. However, the curious attempt to divorce technical insolvency from economic recession reveals that the optimism was misplaced. Indeed, it is as if the intervention by the First Lady, Mrs Aisha Buhari, actually reinvigorated these inelegant swaggers, judging from serial booby-traps that have been manipulated to discredit the administration, including acquisition of sophisticated arms for indigent herdsmen and equally serial and jerky responses to the country’s formidable economic challenge which require expert, not rookie, response as recommended. Fugitive Tiv militant, Terwase Ghana, told Channels Television that separate meetings were held in Niger Republic and Cameroun where sponsors of killer herdsmen pledged huge sums of money to destabilize the country through campaigns of indiscriminate terror in Plateau, Taraba, Benue and Nasarawa states. The sensational allegation dovetails into the macabre reality that has already manifested. The curiosity is that despite corroborating testimony of the Emir of Ilorin, Alhaji Sulu Gambari that those masquerading as Fulani herdsmen are actually fugitives from political turmoil in the sub-region, security agents have feigned frigidity and lack of capacity. The audacity of the so-called herdsmen as measured in their insistence on grazing cattle anywhere; their brazen display of sophisticated weapons

despite the fact that the country’s constitution forbids arms-bearing and the transparent reluctance of security agents to arrest this spiraling criminality betray the arrogance of principalities that are determined to discredit the administration. The country’s desperation to manage its dysfunctional economy has, ironically, sparked a cacophony of reactions which further expose it to mischief and manipulations, rather than to consciousness for prudence and frugality as emphasized in its appeals to citizens for sympathy. Instead of condemnation for ostentation and frivolity by individuals in political office, the rowdy ensemble moderated by the principalities encourage public office-holders to regard such as opportunities to live out their wildest fantasies. This contrasts sharply with the example provided by the world’s sixth richest man and founder of Facebook, Mr Mike Zuckerbee, who flew into the country unannounced and without a retinue of over-zealous hangers-on which he can afford. This is unlike state governors and other public office-holders in the country who live a lifestyle that mocks modesty or change professed by the administration. It amounts to provocation if short-changed citizens whose salaries have been serially embezzled are urged to understand even as the rogue cavorts in orgies that are sustained from the depleted public treasury. That was how a former governor who became a senator blamed the previous administration for alleged responsibility for endemic poverty in the North-East. As a principality, he dutifully suppressed the fact as governor, he concentrated on building new palaces and acquiring exotic limousines for traditional rulers, instead of welfare-changing initiatives for ordinary folks. Idle planes in the presidential fleet should be de-commissioned as example. The lifestyle of those in power reflects neither concern for or-

The patriotic concern of prominent citizens should be considered

dinary Nigerians nor regret for the infamous role played by some rogues parading as leaders. Most importantly, the patriotic concern of prominent citizens should be considered, instead of viewing constructive criticism with suspicion or disdain because it originated from outside the cult of power. A fantasy that is encouraged by the principalities is hallucinating about agriculture driving economic diversification yet the administration continues to patronize criminal herdsmen who kill farmers and destroy crops with livestock. It is just as hare-brained as neglecting causes of tension but voting billions to upgrade capacity to coerce and intimidate inevitable consequence of such naivety. As a strategy, it is always balmy and counterproductive. And accounts for why the most militarized nation on earth, defunct Union of Soviet Socialist Republics(USSR), collapsed without any one firing a shot. Instead, the administration should provide sufficient incentives for pride and patriotism among citizens as originally envisaged by the country’s founding fathers. The administration should be wary of the onslaught against the Bring Back Our Girls (BBOG), campaigners. It is the latest phase in the thickening plot to discredit this regime by antagonizing its traditional support base. Urgently, the administration should convince Nigerians that it is determined to do stuff right by compelling public officers to cut down on their obscenely ostentatious lifestyle. Frivolities that they can not sustain in their homes should not be dramatized in public office. They should live by example, not by deceit and ostentation that mocks the pain and sacrifice experienced by ordinary folks. President Buhari can foil the plot by principalities to discredit his administration by insisting on synergy between monetary and fiscal policies. If monetary policy continues to contract in inverse relationship with fiscal policy, he should smell a rat in the hotch-potch and exorcise the principalities, once and for all. •Umosen (dominik.umosen@gmail.com) wrote in from Lagos.

Recession and path to genuine rediscovery Idowu Samuel

igerians over the years had been treated to spirit breaking economic phrases often coined by experts and authorities in their attempts to explain some economic realities. Yet, for decades they seemed not too familiar with the lexicon ‘Recession’ and the forlorn hope it holds for their future. Indeed, not a few Nigerians were thrown off balance when the Nigeria Bureau of Statistics recently affirmed that the country had romped into a full scale recession as the economy contracted rapidly in the last two quarters of the 2016 fiscal year. To many, the recession is a tell-tale that the rhythm of prosperity that Africa’s largest economy had enjoyed for decade may have come to a stop. Unwittingly, though, the Peoples Democratic Party (PDP) seized the scope of the tension generated by the issue to throw darts at the ruling government. With the familiar tone of mischief reeking of malice, critics also found excuses to dismiss the policies by the government on economy, alleging that the economy has been tumbling because the government of President Muhammau Buhari lacks the savvy on management while failing all the

same, to assemble the right team to offer a compelling assistance. In their haste to denigrate the government, critics very ruefully have kept shying away from the fact that the recession which the Buhari administration is toiling hard to contain, indeed, stemmed from the omissions and infractions by the past administration of former President Goodluck Jonathan. Nigeria, under Jonathan had an economy running on full throttle. Under it, crude oil sold for $140 per barrel, opening the vista of instant prosperity to the government and its officials. Not too long ago, the head of Jonathan’s economic team, Dr Ngozi Okonjo-Iweala admitted that the era of economic bliss it enjoyed notwithstanding, the government was blindfolded, and all through displayed incapacity, failing to plan for the future. Yet, Jonathan’s government failed in more diverse ways. Aside its failure to curb corruption, mismanagement, profligacy and open display of affluence by members of its team and their surrogates, the Jonathan’s government exposed itself as bereft of ideas on how to tackle insecurity. The Boko Haram insurgents capitalised on that weakness to ride the government and the rest of Nigeria roughshod. All through, the insurgents demonstrated capacity, looking strong to annex the entire north-east zone with

a mission to even advance towards the Nigerian capital city of Abuja. Nonetheless, the government attenuated the zeal by the military to fight terrorism and insurgency. It watched helplessly as monies earmarked for purchase of arms and ammunitions ended in private pockets. Along the line, frustrated troops had to stage a mutiny in protest against lack of weapons to fight. Analysts had no option than to conclude that the government was deliberately fuelling the aggression by Boko Haram as avenue by privileged officials to steal and amass wealth. With the Amnesty initiative, Nigeria was almost overcoming the Niger Delta question until the past government made another fatal slip in the management of crises from the zone. It ceded the security of oil pipelines to supposed repentant heads of militants who got enriched with contracts signed in billions of naira and foreign currencies. That seemed to be the root of the might by the Niger Delta Avengers and others, and their effrontery to destroy oil installations with intent to pull down the national economy to level zero, just for selfish reasons. Although Nigeria is grappling with the worst economic condition brought about by maladministration of the past, the fact remains that the country is not the only one suffering from a bout of

recession. Great economies, including US, China, Britain, France and others had suffered recessions repeatedly and came out stronger at different times. Nigeria’s case from indications will not be an exception. Economic recession, at the moment is wide spread among countries that operate monolithic economies built around oil resources. Venezuela, Russia, Libya, Iran, Iraq, Yemen are currently the worst hit. Even, Saudi Arabia is not left out of the pang. In a seeming desperation, Saudi Arabia, Iran and other major oil producing countries have been soaking the pressure by increasing their oil production output. The effects have been devastating. It is pegging the crude oil price to an all-time low of $42 per barrel. With this development, each of the countries has been devising the means of managing the brand of recession they suffer. In Nigeria, the government of President Buhari is learning to approach the stiff challenge with courage, optimism and unflagging confidence. For the first time in history, Nigeria is instituting an economic diversification agenda meant to dwarf the over-dependence of the country on oil resources. •Samuel, a journalist and public affairs analyst, writes from Abuja

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fall within the period around has the legal duty to regulate the Edo governorship election. elections in the country to INEC’s security advisers should consider the need for possible have brought it to the notice of postponement of the date of the the commission’s leadership election in Edo State, in order to that fixing an election so close to enable security agencies to deal religious holidays would be an decisively with the envisaged unwise thing to do. terrorist threats.” In recent years, the Boko HaOn Thursday INEC Chairman, Prof. Mahmood Yakubu, had ram insurgency has meant that told journalists in Benin, the religious holidays are periods Edo State capital that it would of heightened security around not be swayed by the security major cities across the country. advice to postpone the poll. Therefore, INEC has demonstratHowever, later that same day, ed a high level of insensitivity INEC made a and incomU-turn and anpetence in nounced that it failing to take had postponed into cogniThe gale of the election by sance security three weeks inconclusive realities in the to Wednesday elections has left country. September 28, We will many Nigerians 2016. also add a As expected, worried word for the the postponement has raised pertinent issues. First, is the apparent sloppiness with which INEC has been handling electoral matters since the current chairman took office. The gale of inconclusive elections has left many Nigerians worried. Many even nurse fears that the tardiness in the handling of some recent elections is signposting sham 2019 polls. It is surprising that INEC has failed to garner experience gathered from conducting elections since 1999 to deliver hitch-free and credible elections in the country. Nigerians are wondering how it skipped INEC’s notice that Sallah would

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Edo 2016: Matters arising

igerians were surprised on Wednesday when hints arose that the Independent National Electoral Commission might postpone the Edo governorship election. The Nigeria Police Force and Department of State Services had addressed a joint press conference in Abuja where they declared that the election should be postponed to avert bloody attacks by Boko Haram insurgents. They noted that they received “credible intelligence” suggesting that insurgents are planning to attack vulnerable communities and soft targets, with high populations during the forthcoming Sallah celebrations between September 12 and 13, 2016. According to them, Edo State was listed among the areas being targeted and advised INEC to postpone the poll. They had reminded Nigerians that similar threats were issued during the May 1, Labour Day, Democracy Day and Eid-el-Fitr celebrations in 2016. The police and DSS added that “the security agencies were able to decisively disrupt and thwart the insurgents’ plan. In the same vein, while election is important, the security agencies cannot allow the peace of the country to be disrupted, and we will continue to remain vigilant and ensure consolidation of the successes gained in the current counterinsurgency fight. “It is in regard of these that we are appealing to INEC which

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security agencies whose duty it is to proactively deploy credible intelligence in warding off potential attacks on the citizens. They cannot claim to be unaware of the danger in fixing an election around a period of religious observance. It was expected that they should have been consulted by INEC on the desirability of fixing an election date before such is announced to Nigerians. However, the tone of Wednesday’s press conference by the police and DSS gave the impression that they had no input in the fixing of the date for the Edo election. While we acknowledge INEC’s independent

status, it is also not out of place to demand that the electoral agency must henceforth consult widely with relevant stakeholders before taking key decisions such as fixing election dates. INEC must bear in mind that its decisions on such matters affects Nigerians in so many ways. At a time of waning economic fortunes, INEC needs to be wary of any action that can lead to a waste of scarce national, corporate and individual resources of Nigerians. It is also surprising how INEC chose to fix the election on a date when candidates were expected to sit for an examination conducted by the West African Examinations Council. Parties are usually known to commit huge resources to preparations for elections and the Edo poll is not an exception. Therefore, INEC’s insensitive action has apparently led to a waste of resources. The new date of Wednesday September 28 appears to also have been decided upon in a hurry. The coronation of the incoming Oba of Benin has been scheduled for September 26. It remains to be seen how INEC intends to conduct its affairs side by side with the flurry of activities expected to occupy the state capital around the period. All in all, INEC needs to do a serious soul search and improve on the delivery of its mandate. Nigerians cannot afford costly experiments from the electoral agency.

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Interview

Law

Jegede: Blame FG’s financial indiscipline for bankrupt states

News

Row over EFCC’s prosecutorial powers

Mahmoud

AKEEM NAFIU writes that the lawyers’ umbrella body—the Nigerian Bar Association (NBA) has remained undaunted on its push for the removal of the Economic and Financial Crimes Commission’s (EFCC) prosecutorial powers

he lawyers’ umbrella body— the Nigerian Bar Association (NBA) may have concluded plans to drag to court, the Economic and Financial Crimes Commission (EFCC) for an alleged defamatory, days after the nation’s graft agency described the NBA as ‘a body populated by rogues and vultures.’ NBA President, Mr. Abubakar Balarabe Mahmoud, a Senior Advocate of Nigeria, had in his inaugural address at the 56th biennial conference of the NBA in Port Harcourt said there was the need to redefine the role by the

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

Magu

agency in the prosecution of corruption cases especially by limiting its powers to investigation only. Mahmoud said: “As a start, we commend the efforts of the Economic and Financial Crimes Commission for the work it is doing and for its modest achievements. However, going forward, the NBA must demand the reform of the institution itself. We need to define its mandate more narrowly and more clearly. The critical institutions involved must be repositioned, re-equipped and re-tooled to confront the problem of corruption on a consistent and sustainable basis. “In my view, its broad objective as an investigative and prosecutorial agency should be reviewed. I recommend strongly that the EFCC be limited to investigation.” According to the NBA President, an independent agency should be made to prosecute after investigation into the alleged corruption-related offences had been conducted by the EFCC. But this did not go well with the agency as the EFCC described Mahmoud’s view as ‘self-serving’ and aimed at creating “a cabal of untouchables.” EFCC said: “One of the new commitments as articulated by the new President of the Association, Mr. Abubakar Mahmoud (SAN) is to reinvent the association by reclaiming its moral high ground through a campaign for ethical rectitude by members of the Bar. “This is reassuring considering the evidence that senior members of the Bar have become complicit in cases of corruption and money laundering, leading to the Economic and Financial Crimes Commission (EFCC) arraigning two members of the Inner Bar for

Agbakoba

acts of corruption. A Bar populated or directed by people perceived to be rogues and vultures cannot play the role of priests in the temple of justice. “As the Acting Chairman, Ibrahim Magu has repeatedly stated in his public pronouncements that the agency is open to suggestions that will improve its operations as it cannot pretend to have a monopoly of ideas on how to fight corruption. Nevertheless, the commission views with concern, the call by the NBA president that the EFCC be stripped of its prosecutorial powers. “The commission’s discomfort over this seeming innocuous proposition, stem from the fact that Mahmoud was silent on the reason for his position. More importantly, the commission cannot comprehend how the re-definition of EFCC’s mandate in narrow terms, ultimately whittling it down, fits into the clamour by Nigerians and the vision of the President Muhammadu Buhari’s administration for a vibrant and courageous anti-corruption agency. “Instead, Mahmoud’s suggestion appears perfectly in sync with a cleverly disguised campaign by powerful forces that are uncomfortable with the reinvigorated anti-graft campaign of the EFCC and are hell-bent on emasculating the agency by stripping it of powers to prosecute with the lame excuse that an agency that investigates cannot also prosecute. “The question Nigerians must ask the Mahmoud-led NBA is: what is wrong with EFCC prosecution? Mahmoud is in a position to answer this question. He was the Attorney-General of the Federation’s counsel in the trial of former Delta State governor, James Ibori at the Federal High Court,

Pastor sent to prison over N85m fraud

20 23

Asaba, a case which EFCC lost in questionable circumstances. But the same ingredients from that case were used to fetch Ibori a 13-year jail term in London. Mahmoud is also the Commission’s counsel in the appeal against the infamous perpetual injunction from arrest and prosecution by former Rivers State governor, Peter Odili, which is still pending before the Court of Appeal in Port Harcourt, many years after it was filed. “It is too much of a strange coincidence that the suggestion to strip the EFCC of its prosecutorial powers is being floated a few months after the commission, in an unprecedented fashion, arraigned some senior lawyers for corruption. “For the avoidance of doubt, the commission has recorded more convictions in the last one year than all the states and federal ministries of justices combined. Against this background, the current campaign appears to be selfserving, intended to create a cabal of untouchables who can be investigated but may never be prosecuted.” EFCC is a law enforcement agency that investigates financial crimes such as advance fee fraud also known as 419 and money laundering. The antigraft agency was established in 2003 by the government of Chief Olusegun Obasanjo, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of the 23 countries non-cooperative in the international community’s efforts to fight money laundering. Its major duty is to prevent, investigate, prosecute and penalise economic and financial crimes and is charged with the responsibility of enforcing the provisions of other laws and regulations relating to economic and financial crimes, including the Economic and Financial Crimes Commission Establishment Act (2004); the Money Laundering Act 1995; the Money Laundering (Prohibition) Act 2004; the Advance Fee Fraud and Other Fraud Related Offences Act 1995; the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act 1994; the Banks and other Financial Institutions Act 1991 and Miscellaneous Offences Act. The agency has since its inception addressed financial corruption by prosecuting and getting a number of highprofile corrupt individuals convicted in the court. Notwithstanding the agency’s statutory roles, the Bar insisted that its prosecutorial role must be taken over by an independent and unbiased agency as combining investigative powers with prosecutorial in an agency may not give the nation the desired results in the fight against corruption. This, NBA said has called for a holistic reform as it was imperative to always encourage debates about the nature, character and responsibilities of public institutions especially if anti-graft agencies must deliver on their mandate on a ‘consistent and sustainable’ basis devoid of political interference. It said: “Combining investigative powers with prosecutorial powers in one single agency, (called the Roskill Model in England), is the exception CONTINUED ON PAGE 23

20 Law|Interview Mr. Eyitayo Jegede is a Senior Advocate of Nigeria and Peoples Democratic Party’s (PDP) candidate in the November 26 governorship election in Ondo State. In this interview with BABATOPE OKEOWO, he speaks on judiciary, immunity, conflicting judgements, corruption, federalism, economy and sundry issues Looking at the concept of judiciary, can we really say Nigeria’s judiciary is truly independent? There is a provision for separation of powers in the Nigeria’s Constitution. In other words, the executive, legislator and judiciary have specific role to play. By the provisions of the Constitution, each and every of those departments of government should operate on its own base on constitutional assignments imposed by law. But of course, each and every of those arms serve as check on the other. The judiciary ordinarily is to interpret the law to an extent that it has freedom to interpret what the law says. But there are other issues that are related to the exercise of that power and I talk about financial independence. In other words, it should be able to administer its fund the way it likes to in line with the provision of the Constitution. It should be able to give its judgment without interference from either the legislature or the executive. It should be able to discipline its own staff where they go wrong. To that extent, there is a frame work under the Constitution that allows for independence of the judiciary and most of the time, it depends on the operative of the arms of government; judiciary, the executive and the legislature to be able to say with all confidence to say that there has been no interference in the judicial arm of government. Many staff of the Judiciary in some states believe that it is difficult to control funds meant for them, do you share their view? They do control it. Under the budget and under the budgetary provision of any state or any country, there is always appropriation. Under the appropriation law, judiciary will also have its own fund because the fund that comes into the state come in installment and because the state itself does not have full control over how much funds it would have budget is always anticipatory. Whatever money you get, all you need to do is to fund the judiciary from such allocation. The funding for the states come from the centre, the funding goes to the federal government, the state and local government. The fund that goes to the federal government will

monDAY, September 12, 2016 NEW TELEGRAPH

Jegede: Blame FG’s financial indiscipline for bankrupt states

We must be able to pin the Federal Government to carry out its legitimate obligations

Jegede

have to be appropriated amongst the arms of government at the federal level. The fund that comes to the state will have to follow the same process. In other words, it is those available funds that can be used. You cannot give what you do not have. What I am saying in effect is

that by law, the judiciary should have control over its own fund but then, what funds are available is what will be utilized by the judiciary. The important thing to do is that the fund is meant for the judiciary is sent to judiciary directly and they can now from the same fund pay salaries, take

care of their personnel, training, and take care of their travels and those capital projects that are within their budget. The judiciary cannot spend money outside the budgetary allocation. Some funds are also first charge. First charge in the sense that they are important, they are first among

Law|Interview 21

monDAY, September 12, 2016 NEW TELEGRAPH

equals. They must be paid first and to an extent that those funds are released at an appropriate time when the constitutional requirements would have been fulfilled. But the funds must be available. But the judiciary has no police or instrument of coercion to implement its own decision and yet you said this arm of government is independent, how independent is the judiciary in this perspective? The legislature has no police of its own. The Executive as far as I know does not have the monopoly of the police. The police are set up under the Constitution and the Police Act with specific duty. It is mandatory that when judgment is given, it must be enforced. It is also incumbent on the police to ensure they give protection to those officials of the judiciary who are going to enforce court judgments. It is not that the judiciary will employ policemen; it is that the judiciary will employ sheriffs; those who would serve papers and those who would enforce judgments. But the police are bound by the law to give security and protection to those officers of judiciary. I do not share the view that because the judiciary does not have its own Police Force, it is not independent. There is only one police force in Nigeria and it is the police force that belongs to the entire country and each arm of government is entitled under the law to have protection that is provided for by the police. We have governments both at the state and the federal levels that select which of the judgments to obey. Does that not affect the independence of the judiciary? You don’t blame the judiciary for that; you don’t blame the police for that, you blame the officers that are so indiscipline as not to obey court judgments. What binds us together in this country is the spirit of the Constitution. That Constitution demands obedience from every person whether you are in the judiciary or executive. Those in the executive are bound by law to obey the judgment. You do not really need the police as far as I am concerned if we are all servants of the Constitution. All you need to do is to remove the toga of arrogance and then obey the law. Looking at the way our federalism is being practiced, some said the federal government is too powerful than other federating units, do you share this view? We are operating federalism within the Constitution. There are general principles of federalism but they are also imposing obligatory principles within the Constitution. Those provisions of the Constitution are to the effect that there are federating states and there is a federal government. By the provision of our Constitution, the federal government will appear to be too powerful. Too powerful in the sense that it is biting more than it can chew. Too powerful in the sense that it is overwhelming on the states and too powerful in the sense that it will

not allow the states to develop. It is powerful in the sense that it has many obligations it cannot carry out, too powerful in the sense that there are too many resources that is domesticated in the centre. Unless we deliberately weaken the centre; what I mean by that is that take away those things they do not need and give to the federating states we will not develop. The federal government is there and it is not competing with anybody but the state governments are competing with each other. Each state is struggling to make sure it provides more amenities for its people. Each is bound to look at what we call peer comparison looking at what they do in other states and leverage on the advantages but the federal government is up there unable to reach those it supposed to reach. Federal Government is there in Abuja unable to reach as much as possible and get to Calabar, Keffi, Lagos, Osogbo and Yola in Adamawa State. I share the view that there is need to restructure. I share the view that there is need to look at the funds in the states and federal government and look again at the revenue allocation formula. I share the view that we must be able to pin the federal government to carry out its legitimate obligations that are imposed by the Constitution. Such obligations include the funding of the police, which by law, should be done by the federal government but in practice being done by the state and local governments. The funding of the prisons which by law should be done by the federal government is being done by the state government and some other agencies. The funding of immigration and other security apparatus even the military is now being done by the state governments. Take for instance, it is the state government that provides security for its people and you need the military support or back up; state government will need to provide vehicles, fuel and payment of allowances. You do not need to take away from the meager resources of the state to fund those federal agencies that had huge fund allocated to it and that is why we have a lot of financial indiscipline at the centre and that is why the burden is now transferred to the states. This is the reason the state governments do not have the resources to take care of those things that should ordinarily be their own duties and that is why I said we should be able to pin the federal government to fund the agencies of federal government that belong to them. There is no need to pass the responsibilities to state governments. But then the state governments are handicap if for instance you do not fund the police and there is an emergency somewhere in town and the police said we have no car; unless you are an irresponsible state government you must provide fund for them to move. The irresponsibility of the federal government has created much burden on the state government.

The irresponsibility of the Federal Government has created much burden on the state government

What is your view about immunity to the president, governors and their deputies, including presiding officers of the legislative arm of government, do you support this move? The authors of our Constitution between 1963 and 1979 had very extensive debate about the issue of immunity. I want you to close your eyes for a minute and imagine the number of cases filed against a state governor in a day. Imagine a number of complaints against a state governor on the average. Imagine a governor that should be supervising the security and welfare of the people is asked to come to court from morning till evening and he can do that for seven days in a week. When I hear some people talk that they should withdraw immunity from the governor, I said to myself it is either they do not understand the enormous duties of a governor or the trust people have placed in these governors. Governors did not put themselves there. Under our constitutional framework, the governor is elected to the position. While he is occupying the position, he is not doing it for himself; he occupies the office in trust for the people. The remedy you have if you don’t like what he is doing is to wait patiently for him after four years, vote him out. But not that you put someone as your driver. Imagine you have a driver and put school children in the vehicle and you want the driver to face distraction, he is going to crash everything. But people out of mischief or because they think it is convenient for them or they think a particular governor is corrupt, they should remove the immunity. The law allows the governor to be tried. It is either you wait for him to finish his tenure or vote him out as time does not run out of criminal action. Even as there are provisions in the Constitution to take him out. Don’t forget that civil servants have some moderate immunity because if a civil servant does something wrong in line of duty, you must go to court within three months, if you don’t go you lose your right of action. If the legislator is in the House of Assembly and he utters some words which are defamatory you cannot sue because he said so in the hallowed chambers of the Assembly. These are moderated immunity in my own view because it does not allow you to distract the particular officer from performing his primary responsibilities. To that extent, I believe that the principle of immunity contain in our constitution is inserted there for very good and valid reasons. I hold the view also, that other arms of government who are struggling to increase their level of immunity may not be able to justify it given the level of responsibilities imposed on them by law for those things that they do and I say this with all due respect. For a judge in court and he is administering justice, he has immunity for those period of time that he is administering justice. He has immunity to write whatever he likes in his judgment and you can go on appeal. For those legislators who are also debating our laws, they have absolute immunity while they are in the hallowed chambers and that is why they throw stones and benches and policemen hardly go there.

It is because for that duty, you do not distract them. For the Executive, it is a different ball game altogether. Mr. President works for 24 hours in a day. He does not go to office and says he has closed by 4pm. If there is an emergency, he must respond to it. For that kind of a person, the law protects him; it gives him absolute protection against criminal prosecution for that period that he occupies the office. The idea is that for all time, he is not distracted. The immunity clause is not meant for him alone but for those he is governing because he must govern them to the best of his ability. We have the EFCC freezing governors’ account and barring them from travelling. Does the immunity cover their movement and account also? It depends on who is interpreting and the political divides you are. The truth of it is that the principle of immunity which I said earlier is meant to ensure you don’t distract the governor. What you have done is that you believe rightly or wrongly that funds in that account do not belong to him. If you have come to that opinion, it means you have imposed judgment. If you have gone to freeze his account, it means you are giving effect to your views, it means you have cleverly sidetracked the provision of the Constitution to go ahead and yield to populist move of saying freeze his account. It might be a popular move but I doubt if it is a legal move. It is not about who is concerned, it is about fundamental principles of our constitution. The moment you start infringing on our constitution, there is no stopping and God saves us it develops gradually into anarchy, until you have a totalitarian regime. It also depends on who is there, the man there may have purity motive but somebody will come tomorrow who would have other motive and may want to take on other governors who are also elected the same way the president was elected. There are conflicting judgments from court of coordinate jurisdiction. What does this portend for our democracy? It does. It portend danger to our democracy and our constitutional growth. The way out in my view is to ensure that where there are established cases of misconduct on the part of any judicial officer, such misconduct must be investigated and appropriate sanctions applied. I am saying this because I know that in practical terms, there are conflicting judgments. There are instances where judges have assumed jurisdiction when they do not have. There are instances where cases are filed before particular judges so that you can get particular result. This does not mean that the judiciary is corrupt, it only means there are individuals in the system like any other system that may not be giving judiciary good name. But the preponderance of our judicial officers are straight, knowledgeable and not corrupt but that does not mean you apply the same brush to the same judicial officer. I think the NJC itself is trying to ensure that when there are established cases of misconduct, the cases are speedily dealt with.

22 Law|File

monDAY, September 12, 2016 NEW TELEGRAPH

Graft war: Lawyers as defenders of Justice Bolaji Owasanoye, a Professor of Law and Executive Secretary, Presidential Advisory Committee Against Corruption (PACAC), dissects the traditional role of men of the wig and gown in the fight against corruption

et me start by admitting that there is no universal approach to the obligations and responsibilities of lawyers when dealing with corrupt practices. Lawyers, like other citizens should not carry out illegal activities. The traditional role of lawyers is that of defender of justice and representative of individuals before the law. The fall-out from lawyers being involved in corrupt practices can be far greater than that of other professions and rightly so. Indeed, any professional body that uses its special knowledge against society threatens the survival of the society. Imagine if during the Ebola crisis, doctors and other health personnel adopted self-preservation and self-centered tactic against the Ebola virus, perhaps we would not be here today. As I said in a previous lecture, “lawyers by training are best placed to champion advocacy for law reform and protection of individual rights, open, representative government, consumer protection, economic development, social welfare etc. Lawyers have historically supported these ideals but have also been counterforce in other directions, including anti-democratic directions. In 1993, lawyers filed cases in support of entrenchment of military dictatorship, the outcome of which set the country back several years. More recently, lawyers have filed cases designed to frustrate democratic growth and the 2015 elections or prevent inauguration of the new government. It is a moot point to ask if a lawyer has an obligation to override a client’s desire to pursue an antidemocratic position. But at the same time, lawyers do have ethical and legal responsibility not to abuse the process”. The role of lawyers in the fight against corruption is therefore far greater than the role of land surveyors, architects, artists, geologists etc. Since the adoption of UNCAC in 2003, the global community took a broader view of corruption, its definition, its part in fuelling other crimes like terrorism, trade in narcotics, human trafficking and instability of regions and the role of certain professional groups in fighting it. Thus across the world legislative changes now take a far broader view of what would be considered a corrupt activity. Failing to report suspicious activity and letting a client know that you have informed authorities about their behaviour are now considered part of the bundle of illegal or corrupt activities.

It is these requirements that are having an important effect on lawyer- client privilege. Legal privilege exists to protect a client’s ability to access justice by encouraging complete disclosure to legal advisers without the fear that such communications may prejudice the client in the future. The assumption is that full disclosure will allow for the provision of more comprehensive and appropriate legal counsel. However, recent global experiences with terrorism and corruption forced the international community to rethink the scope of this privilege. First, let us start by consideration of the ways by which the criminal justice system attempts to get the support of all citizens generally and professional groups in particular. Anticorruption prevention Owasanoye is found in ‘hard law’ that is binding legislation and subsidiary regulations and ‘soft law’ that is professional body principles and regulations and finally in judicial decisions. Liability for hard laws is fairly straightforward. It is the liability that results from general criminal laws. Lawyers are subject to general anticorruption laws and are not exempt. The attempt by a section of the profession to suggest that the effort of anti-corruption agencies to bring to justice Senior Advocates who have committed crimes whether of their own volition or in the process of defending the right of their clients falls within this rubric. Where a lawyer acts in such a way as to be directly responsible for an act of corruption or acts as part of a conspiracy to corrupt, the lawyer can face liability as a “principal” offender. For example where a lawyer pays a bribe or actively arranges any particular corrupting activity in the course of practicing his profession. He is liable to prosecution under extant laws. On the other hand, the lawyer may not be directly responsible for the act of corruption but facilitates or otherwise provides assistance to a principal offender, such a lawyer can be liable as an accessory or accomplice. This is particularly important given the nature of a lawyer’s role in a corrupt act e.g. if he prepares supporting documents to a corrupt transaction, instead of making a direct payment to a corrupt recipient. In addition, a lawyer could also be liable for offences related to the criminal act of corruption, such as money laundering offences where local laws include the requirement to report corruption activities. It is the reporting requirement that is a sticky point for lawyers. In recognition of the critical

role of lawyers in anti-corruption initiatives, a gate-keeper role was imposed on them by the international community. In 1990, the Financial Action Task Force (FATF), a body set up by the G8 countries adopted a set of forty recommendations on money laundering. In 2001, the recommendations were reviewed resulting in its May 30, 2002, Consultation Paper known as the Gatekeeper Initiative. The initiative proposed that some professionals, including lawyers act as ‘gatekeepers’ to the international financial and business markets by disclosing client breaches of rules, although such information was obtained in confidence, and not mentioned to the affected clients. According to a 2003 ABA paper, the FATF recommendations could be summarized as: *Extending certain anti-money laundering measures to lawyers, such as increased regulation and supervision of the profession; *Increased due diligence requirements on clients, *New or expanded internal compliance training and record keeping requirements for lawyers and law firms; and, *Under certain circumstances, “suspicious transaction reporting” (“STR”) requirements that require lawyers to report to a government enforcement agency or a self-regulatory organization (“SRO”) information that triggers a “suspicion” of money laundering relating to a client activity. As would be expected, many Bar Associations rejected the FATF recommendations. However, ongoing conversation between FATF and Bar associations across the world led many Bar associations to adopt stringent internal control measures to cooperate with international community

Any professional body that uses its special knowledge against society threatens the survival of the society

while some nations adopted statutory measures. In Nigeria, by the Money Laundering (Prohibition) Act 2011 and the Prevention of Terrorism Act (PTA) 2011/2013, the Special Control Unit Against Money Laundering (SCUML) was established to monitor, supervise and regulate the activities of Designated Non-Financial Institutions (DNFIs). Section 25 of Money Laundering (Prohibition) Act defines DNFIs as “dealers in jewelry, cars and luxury goods, precious stones and metals, real estate, estate developers, estate surveyors and valuers, estate agents, chartered accountants, audit firms, tax consultants, clearing and settlement companies, hotels, casinos, supermarkets, dealers in mechanized farming equipment and machineries, practitioners of mechanized farming, NGOs or such other businesses as the Federal Ministry of Trade and Investment or appropriate regulatory authorities may from time to time designate. By the Anti-Money Laundering CFT Regulations for Designated Non-Financial Businesses and Professions in Nigeria of 2013, legal practitioners were included in the list of DNFIs, thus requiring lawyers to register with SCUML NBA successfully challenged this regulation and SCUML in a case filed 2013 against AGF and CBN. The Federal High Court held that Sections 5 and 25 of MLA could not be used against legal practitioners because SCUML and FMTI are not juristic persons. The court upheld the provisions of Rule 19(1) of the Rules of Professional Conduct for Legal Practitioners, made pursuant to the Legal Practitioners Act and Section192 of Evidence Act which preserves confidentiality of Attorney-client communication. Rule 19(1-2) provides –“Except as provided under sub-rule (3) of this rule, all oral or written communications made by a client to his lawyer in the normal course of professional employment are privileged. (2) Except as provided in sub-rule (3) of this rule, a lawyer shall not knowingly ---(a) reveal a confidence or secret of his client; (b) use a confidence or secret of his client to the disadvantage of the client; or (c) use a confidence or secret of his client to the advantage of himself or a third person unless the client consents after full disclosure. Furthermore, the court said sanctions contemplated by SCUML had been covered by extant rules regulating conduct of lawyers thus the MLA regulations were superfluous. The court refused to accept the submission of the defense that the purpose of the MLA and SCUML was not to monitor legal practitioners but their clients involved in suspicious transactions and that the legislation is a valid derogation from fundamental rights preserved in the Constitution. The crux of the court’s position is that FMITI and SCUML are not juristic persons, however, Sections 5 and 37 of the Nigerian Financial Intelligence Bill 2015 passed 2nd June 2015 but which was not assented to by President Buhari obliges lawyers and other DNFI to report suspicious transactions to newly established NFIC.

Law|News 23

monDAY, September 12, 2016 NEW TELEGRAPH

Pastor sent to prison over N85m fraud Akeem Nafiu

ustice Babs Kuewumi of a Federal High Court in Lagos has ordered the remand in prison custody of a pastor, Chris Anyalebechi, over an alleged N85 million fraud. The order followed the pastor’s arraignment by the Special Fraud Unit Department of the police on a two-count charge of conspiracy and obtaining money under false pretence. The accused person who is the General Overseer of Christ Glory International Gospel Center, Ikorodu, Lagos, was said to have between April 2014 and March 2015, conspired with others still being sought to obtain the money from a company, Nestor Nwankwo of Zicozeen Nigeria Limited. The pastor allegedly de-

ceived the company to part with the money under the false pretence that he will use it to buy a used ship for the company and eventually sell it in parts or scraps on its behalf. The offence was said to have contravened Section 1(1) (a) (3) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006. The accused person however pleaded not guilty to the charge. The police prosecutor, CSP Effiong Asuquo however sought his remand pending trial. Justice Kuewumi ordered the remand of the accused person in prison custody. One of the counts against the accused person reads: “That you, Pastor Chris Anyalebechi, General Overseer, Christ Glory International Gospel Center, Ikorodu, Lagos, sometimes between April 2014 and March 2015, in Lagos,

Auta

within the jurisdiction of the Federal High Court, by false pretence and with intent to defraud, obtained the sum of N85 million from a company known as Nestor Nwankwo of Zicozeen Nigeria Limited, by representing to the company that you will purchase for the company a used ship or vessel and sell same in parts or scraps on behalf of the company, a representation you knew to be false.

Police arraigned 2 over NARTO attack

Akeem Nafiu

wo men, Ayinde Kasali and Nojeem Adunfe, have been arraigned before Magistrate O. Kusanu of an Igbosere Magistrate’s Court by the police for being members of a gang which allegedly carried

out an attack on the premises of the National Association of Road Transport Owners (NARTO) at Tin Can Island, Apapa, in July. The duo were docked on a three-count charge of conspiracy, armed forcible entry and threat to life. They were arrested by the police follow-

ing an investigation into a petition by NARTO, alleging that unknown armed men had attempted to sack its members from its Apapa office. Police prosecutor, Corporal Chinedu Njoku, informed the court that the offences were allegedly perpetrated at Port

Bricklayer docked for raping, stealing Akeem Nafiu

39 year-old bricklayer, Richard Edet, has been arraigned by the police before Magistrate Patrick Adekomaiya of an Igbosere Magistrate’s Court for allegedly assaulting a commercial sex worker by throwing her inside a gutter after raping her. He was docked on a two-count charge bordering on stealing and rape. Police prosecutor, Corporal Friday Mameh, informed the court that the defendant sometimes in June 2016, committed the alleged offence when he met the complainant, one, Gloria Obihor, at a party where they exchanged contact after telling her that he works with Mobil. He alleged that the defendant unlawfully assaulted the complainant sexually. Mameh said, “the defendant and the complainant met again in August at 1004 Estate in Victoria Island and Novo Creek, Tin Can Island, sometimes in July. Njoku alleged that “the defendants and others at large, with an intent to commit felony and while armed with cutlasses, iron rods and other dangerous weapons and in a manner likely to cause breach of peace, forcibly entered a piece of land that was in actual and peaceable possession of NARTO.”

then decided to go for hangout at a bar. On their way to the bar, they took a taxi and the defendant pointed at a house and said that’s his residence.” “After they left the bar, the defendant raped the victim, threw her inside a gutter and stole her property and money. While she was shouting for help, there was nobody around to help her as it was during odd hours.” The property alle gedly stolen by the defendant are; Samsung X6 phone valued at N92,000, Malado wrist watch valued at N40,000 and perfume valued N16,000. The accused person was also said to have made away with N13,000 belonging to the woman. The prosecutor further disclosed that the defendant was apprehended at Oniru Estate after committing the offence punishable under Sections 285 and 259 of the Criminal Law of Lagos State 2011. The defendant however pleaded not guilty to the twocount charge while he was eventually granted bail by the magistrate in the sum of N200,000 with two sureties in like sum. The sureties, according to the magistrate, must be employed in a limited company, tax payers and their addresses verified. Further hearing in the matter has been adjourned to September 23.

Lawyers tackle EFCC over power to prosecute C O N T I N U E D F R O M PA G E 1 9

rather than the norm. In the UK, only the Serious Fraud Office (SFO) enjoys such combined powers. But, given the institutional safeguards, both within the SFO and the maturity that characterizes the UK Criminal Justice Institutions, the abuse of such powers will be highly unlikely.” Besides, NBA berated EFCC for describing its members as ‘rogues and vultures’, saying the agency was ‘uncivilise’ in its language against the ‘noble men’. It said: “NBA condemned in the strongest terms the use of abusive and uncivil language of ‘rogues and vultures’ and such stricture by a public authority. Name calling and use of abusive language is not expected of any public institution. It is unacceptable. The NBA demands unequivocal withdrawal of this statement and an unreserved apology from the EFCC.” Should the EFCC be stripped of its prosecutorial powers to pave the way for an independent agency for an effective prosecution of corrupt public officials as being pushed by the NBA and its leadership? Lawyers were however divided. While some believe it is unnecessary and uncalled for, others queued behind their umbrella body that EFCC must give way for an independent agency to prosecute corruption cases. While a former NBA president, Mr. Olisa Agbakoba (SAN), Mr. Jibrin Okutepa (SAN), Chief Mike Ozhekome (SAN) and Ige Asemudara spoke in favour of their President, Mahmoud, Mr. Femi Falana(SAN), Mr. Rotimi Jacobs (SAN), Chief Mike Ahamba (SAN) and a former Vice President of the NBA, Mr. Adekunle Ojo differ. Agbakoba, Okutepa, Ozhekome and Ige Asemudara insisted that there was the

Falana

need for a review of the EFFC’s powers to prosecute corruption cases with a view to delivering on its statutory mandate. They were unanimous that an independent agency should be made to take over prosecutorial powers of the EFCC. For instance, Agbakoba said he was in support of a re-assessment of the EFCC’s prosecutorial powers. He said: “Where corruption is endemic like in Nigeria, strong institutions are critical to achieve success. It is in this context that the debate on the propriety of the EFCC investigating and prosecuting financial crimes at the same time is appropriate. “We support the position of the president of the Nigerian Bar Association. HURILAWS position is supported by international best practice and the need to

build the capacity of the EFCC to deliver on its core mandate which is investigation of financial crimes. The international best practice is that one agency investigates, another prosecutes and the court adjudicates. The EFCC as currently composed is overworked and will not efficiently deliver on investigation and prosecution.” “Whilst we have no objection with the EFCC investigating or the courts adjudicating, we believe the powers to prosecute should be vested in an independent highly resourced prosecuting agency. We appreciate the enormous work done by the EFCC since its establishment in 2003. Thirteen years on, the federal government needs to rejig the EFCC and other crime fighting institutions to perform optimally. We support plan by the Attorney General of the Federation to establish a National Prosecuting Agency.” Agbakoba was echoed by Okutepa, who said it was only the Attorney-General of the Federation (AGF) that had the constitutional powers to prosecute, take over and discontinue criminal proceedings. Okutepa said: “The way things are going and taking from the statement of EFCC, it does appear that the commission seems to be law unto itself. The anti-graft agency said that it has prosecuted and secured more convictions than that of the Attorney-General of the Federation and the Attorney-Generals of the 36 states. “To me, that statement amounts to prosecutorial insubordination. You can’t tell your master that you have done better than him. This shows the arrogance being displayed by the EFCC and I think the commission should come up with a statistics to support its claim. “The EFCC has developed a gluttonous appetite of going beyond its mandate. Now, it has taken

over virtually everybody’s powers. If you quarrel wrongly with your wife over money issue, the commission will say it is an economic crime. The EFCC was set up for serious economic crimes but it now operates everywhere. They are overburdened. The EFCC must be rescued from itself because it has entangled itself outside of its mandate. That is why the Bar is saying that the commission should concentrate on its core mandate of investigation and let prosecution be done by another body so that we can have effective delivery of justice system in the country,” he also said. Ozhekome was not different from A.B Mahmoud’s view. The silk wig simply said he was in total agreement that the EFCC should be shredded of its prosecutorial powers. He said: “One of the cardinal principles of natural justice is that no one should be a judge in his own cause. So far, the EFCC has been the investigator, the accuser because it files the charges and then the prosecutor, all at the same time. That is why the commission has abused its powers by even trying to intimidate the judiciary which ought to have the final say out of total reckoning. “If the Nigerian judiciary has not been bold and courageous so far, including some lawyers who have said no to impunity, by now, the EFCC would have annexed the judiciary and the Bar as part and parcel of the commission. “I therefore believe that the prosecutorial powers of the Attorney-General of the Federation and Minister of Justice under Section 174 of the Constitution should be invoked. The AGF should be allowed to carry out his constitutional function C O N T I N U E D O N PA G E 2 4

24 Law|news C O N T I N U E D F R O M PA G E 2 3

so that the EFCC can investigate and turn over the result of its investigation to the AGF who will prosecute. This is because power corrupts and absolute power corrupts absolutely which is why the EFCC has so far being misusing its powers targeting some people for humiliation.” Asemudara said the NBA president, owing to his vast experience must have his reasons for coming up with the suggestion. He said: “You see, what I would say is that the NBA President is someone who has seen it all. He was a former Solicitor-General and Attorney-General of Kaduna State. He has also prosecuted for the EFCC. I remember he was one of the lawyers that prosecuted the bank chiefs that were sacked sometimes in 2009. To that extent, he has seen from both sides. I mean from both the Attorney-General and EFCC’s sides. Being a SAN, he has also done a lot in terms of litigation and he has done this job not only at the prosecutorial level but also at the administrative level. So, he is not coming from the position of someone not informed about what is involved. I believe he must have his reasons for coming up with the suggestion. I would say that to a large extent, the NBA President’s suggestion is not outrightly wrong. “But importantly, I would say that sometimes when you look at the workings and operations of the EFCC, you will be tempted to say indeed it should be stripped of certain powers. Now, it is important that the person who investigates is not the person who prosecutes. The reason being that, the man who is prosecuting must be able to prosecute dispassionately so also, the man who is investigating has the mandate of getting to the root of the matter at all cost. The prosecutor’s mandate is however to prove the allegation beyond reasonable doubt based on the available materials before him. But if it is the same person that investigates that is also prosecuting, sometimes the person may be shrouded and clouded with the investigative passion. A case study is when EFCC charges a person to court and the accused was later granted bail by the court. However, he was not allowed to enjoy the bail because he was re-arrested by the EFCC on the suspicion that he has committed another offence.” “But on the other hand, most especially because sometimes the prosecution of corruption cases need speed and expertise, the EFCC can also prosecute. But a mechanism must be put in place to moderate the powers of the EFCC because it is becoming very corrupt at the moment. But Falana, Jacobs, Ahamba and Ojo disagreed with Mahmoud on stripping the EFCC of its prosecutorial powers. Falana, while disagreeing with his colleagues’views wondered while EFCC was picked as a reference point, describing it as curious. He said: “From the report I gathered, the statement credited to the NBA President was not a resolution adopted by the conference. As far back as 2008, this controversy has been laid to rest. When the NBA leadership at that time misled the then Attorney-General of the Federation, Mr. Micheal Aondoakaa, particularly for some lack of experience, to issue a directive to the effect that all the anti-graft agencies should no longer prosecute without his authorization. I then had to remind the government that there was already a decision of the Supreme Court on the matter. The apex court had actually decided the matter in the case between Osahor and the Federal Republic of Nigeria. It was held that

monDAY, September 12, 2016 NEW TELEGRAPH

Agbakoba, Falana, Ahamba disagree on EFCC’s prosecutorial power

Ahamba

Ozekhome

any statutory agency created with prosecutorial powers can initiate criminal proceedings subject to the overriding powers of the AGF to take over either to continue or discontinue the matter. Of course, President Yar’adua had to challenge Mr. Aondoakaa on the Supreme Court’s judgement. President Yar’adua later ordered that the directive should be reversed. “In 2011, Madam Farida Waziri, the then EFCC chairperson, was again misled by the Bar to give these cases to senior members of the Bar. Some of them were given the cases, but unfortunately, it was a disaster. In fact, I do recall that a Federal High Court in Lagos actually prohibited four of them, including the then NBA President from ever handling any prosecution for the government because of the allegations that the cases were messed up. “So, what we have at the moment is the same argument through another means. It was all designed to strip the EFCC of its prosecutorial powers. But, the question is: why was the EFCC singled out now? Are you not aware that at the moment, the police will be taken thousands of people to courts across the country? The Nigeria Customs Service (NCS) also prosecutes. The same thing with the National Drug Law Enforcement Agency (NDLEA), the National Agency for Food Drugs Administration and Control (NAFDAC) and many others. Even, as a private person, I can apply for a fiat to prosecute. So, why was the EFCC singled out?

Jacobs

“It would have been better if Mr. Mahmoud has said that all agencies of government that investigate cases should no longer be allowed to prosecute, instead of singling out the EFCC. I am challenging my colleagues to tell the world why the EFCC has been singled out. This is because the ICPC and the Code of Conduct Bureau are also anti-graft agencies. Why are you not extending it to others but only the EFCC? “I believe that things are better handled where you have the same organization handling both investigation and prosecution together. The EFCC has trained more prosecutors than any of the agencies of government in the last fourteen years. Where has this same suggestion that was tested in the past landed us? What the NBA should be doing is to talk about how we can fine-tune the success recorded so far by the EFCC of all the prosecuting agencies in Nigeria. “There are two processes of ensuring that the EFCC does not abuse its powers. Firstly, the AGF by virtue of the provisions of Section 174 of the Constitution has the power to take over any case being prosecuted by the EFCC if there is any evidence of an abuse of power. Secondly, the EFCC does not decide cases but only present cases to court and if the case is poorly presented, the court will throw it out. I am not saying that the EFCC is a perfect organization. It has its shortcomings and some of us have been critical of the commission. Jacobs said “I think we should first of all realize what the NBA President is trying to say. A. B. Mahmoud was trying to raise an issue for debate. So, it’s not appropriate for us to start calling names and be condemning the call. I think his intention is how do we improve and do better. I must commend him for raising the issue so that Nigerians can discuss the way forward for us to get more results. I think that was the intention of the NBA President but unfortunately some of our colleagues have taken it out of context.” Jacobs went on: “On the issue raised by the NBA President, I think it is important that we must know where we are coming from. Before the establishment of EFCC and ICPC, it was the police that usually investigate crimes and send files to the Federal Ministry of Justice. But we were not getting it right then. This is because there was no synergy between the Federal and State Ministry of Justice and the police. So, we were having a lot of problems with shoddy investigations and no convictions. Before the coming on board of the EFCC and ICPC, there

was nothing like conviction of a former governor or any big man in this country. So, all convictions recorded prior to the emergence of the anti-graft agencies were of ordinary Nigerians who are unknown. “Then, the EFCC and other agencies came on board and we started having results. As an EFCC prosecutor, I have convicted two governors, a former Inspector General of Police and some big people. I also knew of about a thousand cases that the EFCC has prosecuted. Can you say such an organization is not doing well? Let other agencies also come up with their own records of convictions. “Besides, the Constitution also confers prosecutorial powers on certain bodies. Sections 174 and 211 of the Constitution talk about the power of prosecution. When it comes to the issue of prosecution, it is the Attorney-General of the Federation that has the overriding powers. Other authorities are also empowered to prosecute by the Constitution. These authorities are bodies established by law. One of such is the EFCC. The police, customs, NDLEA and others also prosecute. The issue is that if we want results, we cannot distant investigation from prosecution. The moment the two are separated, there will be lack of synergy. Don’t forget that most of these investigators are non-lawyers. Investigations cannot be limited to the police alone, the prosecution must also be actively involved for it to be effective. Those saying the EFCC has overstepped its boundary are yet to know the meaning of economic and financial crimes. Economic and Financial Crimes include corruption and bribery. In fact, what I am saying is that rather than reducing the powers of the EFCC, it should be empowered the more. This is because the way all these agitations are going, it is dangerous. Do you know that since inception, no EFCC chairman has completed his tenure in office? This tells us that the EFCC is not Independent and I believe strongly that the commission should be made Independent.” Ahamba believes that to strip EFCC of its prosecutorial powers was unnecessary as those powers were not in conflict with those of the Attorney-General of the Federation. He said: “Well, I think the NBA President has made his opinion clear but I don’t think the powers given to the EFCC in any way derogate the powers of the AttorneyGeneral of the Federation to prosecute EFCC matters. It does not. The AGF can still take over cases from the EFCC and prosecute. If the police, the National Drug Law Enforcement Agency (NDLEA) and the Nigeria Customs Service (NCS) can prosecute, I don’t know why the EFCC cannot prosecute. The Attorney-General of the Federation reserves the right to take over the prosecution of any case from any of these bodies at any stage and time or to discontinue them. These are complementary powers. The police also investigate and prosecute, the same thing applies to the NDLEA. I think the important thing is for every institution to know how to apply its powers and not go beyond it. If any institution is going beyond its powers or it is biting more than it can chew, the superior powers can come in. But to say these institutions cannot prosecute at all, I don’t see the need for that.” Ojo also said the EFCC should not be stripped of its prosecutorial powers owing to an increase in the level of fraud and unjust enrichment in Nigeria. He said: “Sincerely speaking, the President of the Nigerian Bar Association (NBA) is the chief spokesperson of the association and to that extent he has spoken for the Bar.”

MONDAY, september 12, 2016 NEW TELEGRAPH

Interview ‘Bank loans not good for start-ups’

Business DOWNTURN Setback for refinery co-location contracts, as Dangote, recession tightens West Africa downstream market

Money Line Forex sale to BDCs: CBN may replace banks with Travelex

34 36

Rates Dashboard INFLATION RATE July 2016 ...............................17.1 % June 2016 ..............................16.5% May 2016...............................15.6%

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

EXCHANGE RATE (Parallel Market as at August 26)

USD . . . . . . . . . . . . . . . . . . . . . . N423 Pounds . . . . . . . . . . . . . . . . . . . N564 Euro . . . . . . . . . . . . . . . . . . . . . . N470

l Foreign Reserves – $49.29bn as at 8/9/2016

EXCHANGE RATE (Interbank as at August 26)

USD . . . . . . . . . . . . . . . . . . . . . N306 Pounds . . . . . . . . . . . . . . . . . . N408 Euro . . . . . . . . . . . . . . . . . . . . . N345

Source: CBN

Adeola Yusuf

neasy lull has pervaded the multi-billion dollar private refining subsector in Nigeria, as foreign and local contractors have dumped investments in 19 private medium scale and modular refineries. New Telegraph gathered that except the 650,000 barrels per day capacity Dangote refinery, investments running in four private refineries licenses are faced with lenders apathy, while 19 mini or modular refinery licenses in private hands have been abandoned. These licenses were, according to reports, issued for private refineries by the government of former President Olusegun Obasanjo and his predecessors. While Obasanjo issued 18 licenses, others reportedly gave out seven licenses for medium scale and modular refineries between 2005 and 2015. Checks by this newspaper showed that out of a total of 25 licenses, only six have signs of investments, while those in possession of the remaining licenses have begun to market it to win big-time investors. The licenses with considerable investments are the Niger Delta Petroleum Resources, Og-

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Mr. Ehianeta Ebhohimhen, Business Executive, Abuja, Sterling Bank Plc and Dr. Richard Munang United Nations Environment Programme (UNEP) Africa Regional Climate Change Programme Coordinator at the International Environmental Roundtable for Africa Award Night held recently in Abuja.

Contractors dump investments in 19 private refineries belle, River State, with the capacity to produce 1,000 bpsd capacity, which is operational, while Amakpe International Refinery, Eket, Akwa Ibom State, Resource Petroleum & Petrochemical Incorporated, Ibeno, Kainji Resources Limited, and Omega Butler Refineries are yet to start refining. Amakpe International Refinery has the capacity to process 12,000 barrel per day of Qua Iboe crude into gasoline, diesel, naphtha and fuel oil. Another is the $116 million modular refinery located at Tomaro Island Port, off Takwa Bay, Lagos, by Integrated Oil and Gas Limited, which is expected to come on stream before the end of 2016. “Those with idle licenses are using different upstream and downstream conferences all over the world chasing new buyers or investors, as the case may be, for the licenses. It is clearer to many now that refining investments are, for now, less lucrative, again, for brief case investors - some of

who got the licenses,” a top official of the Department of Petroleum Resources (DPR) told this newspaper. Aside from recession and the crash in demand for refined products in Nigeria, the Dangote refinery, which is expected to flood Nigeria with products, is also targeting the control of market share in West Africa and beyond. These, further checks showed, have also caused setback for refinery co-location contracts and made breaking of even in refining business tough for small scale investors. The Department of Petroleum Resources (DPR), which statutorily authorised to issue licences for refinery operations in the country, recently said that it had issued 21 licences to investors to establish new refineries. Four investors had earlier been issued licences to construct new plants in the country and the DPR confirmed that there are currently 25 private refinery licences granted to companies with 21 in

N2.8 trillion Being the new cost of Dangote Refinery due to the prevailing foreign exchange depreciation in the country

CONTINUED ON PAGE 26

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Scarcity: FG to dedicate Kaduna refinery to aviation fuel p.26

the Licence to Establish (LTE) category, while four are in the Approval to Construct (ATC) category. The agency said that three out of the 25 licenced companies are billed to construct conventional stick-build plants, while 22 will construct modular units with a proposed combined refining capacity of 1,429,000bpd. But despite that many of the licencees are yet to meet with the demands as stipulated in the licence the DPR has not withdrawn the licence of any private refinery, rather, it said that it is in alignment with the federal government’s aspiration of improving the country’s refining capacity by strengthening its regulatory oversight function. There are three stages of licencing for the establishment of private refineries in Nigeria, namely, Licence to Establish, Approval to Construct and Licence to Operate (LTO). The DPR granted LTE to 21

Telcos record 60,356 outgoing ported lines in Q2, says report p.26

BUSINESS |news

MONDAY, september 12, 2016 NEW TELEGRAPH

Scarcity: FG to dedicate Kaduna refinery to aviation fuel COST CUTTING Refining locally could save as much as $155.75 million (N35 billion)

Wole Shadare

he perennial aviation fuel scarcity being experienced in the country could soon become a thing of the past, as the Federal Government is at the verge of dedicating the Kaduna refinery to refining just Jet A1. This was confirmed by Director, Flight Operations, FirstNation Airways, Capt Chimara Imediegwu while speaking

Contractors dump investments in 19 private refineries

•Airlines, marketers to save N35b yearly with New Telegraph in Lagos. In the run up to this month, domestic airlines in Africa’s largest economy have grappled with shortages of Jet A1, also known as aviation fuel, as dollar supplies fall way short of demand. Airlines in Nigeria have a daily demand of about two million litres of aviation fuel. Consequently, refining the fuel locally could equate to saving as much as $155.75 million (N35 billion), incurred on the back of importation. He stated that the problem associated with scarcity of aviation fuel would soon be a thing of the past when government finalises work on Kaduna refinery that would be dedicated solely to the refining of

aviation fuel. The airline chief disclosed that the refining of the commodity in Nigeria would help to bring down the rising cost of aviation fuel. Government has not made the importation of aviation fuel its focus and it has left it solely to marketers who are now having challenges with sourcing forex to meet the demand for the product. Many of the marketers are having challenges with foreign exchange. Aviation fuel, which sold for N105 in March, now sells for N200 in Lagos and N240 outside Lagos while in Ghana, the same product sells between N130 and N150. Because of this huge price difference, as well as

the scarcity in Nigeria, there is the fear that airlines may take advantage of that to buy their commodity in Accra. Nigeria imports Jet A1. But, given the collapse in the value of the naira in recent months and given the scarcity of foreign currency, importers have struggled to source enough products to meet local demand. Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), Obafemi Olawole, said marketers are finding it difficult to source for forex at the stipulated current rate of N285 to a dollar. Minister of State for Aviation, Hadi Sirika, had recently told Airline Operators of Nigeria (AON) that deliberations

L-R: General Manager, Heritage Bank, South, Davidson Regha; Deputy Governor of Rivers State, Dr. Ipalibo Banigo and Rivers State Governor’s wife, Justice Suzzette Nyesom Wike, at a one-day Leadership, Entrepreneurship and Development (LEAD) Summit, hosted by the Rivers State Sustainable Development Agency (RSSDA) in partnership with the Second Opportunity Africa Foundation and Heritage Bank Plc.

CONTINUED FROM PAGE 25

companies with a validity period of 18 months in 2002. In 2004, 17 out of the earlier granted LTE were granted ATC for a 24-month validity period. The department, in 2007, reviewed the existing guidelines and a new guiding document ‘Guidelines for the Establishment of Hydrocarbon Processing Plants in Nigeria’ was introduced to ensure that only committed investors were licenced. The licencing of 18 private refineries by former President Olusegun Obasanjo in 2005 could not achieve any results, as they eventually constituted themselves into the Association of Private Petroleum Refinery Owners of Nigeria. Delay in the take off of private refineries in Nigeria has almost become an issue, which stakeholders attribute to several factors. About 657,000 barrels per stream day (bpsd) capacity of private refineries granted licences by the DPR have not been able to come on stream due to challenges such as non-deregulation of the downstream sector, lack of fund and non availability of crude oil to service the refineries. It was gathered that almost all the licenced operators had serially defaulted on their respective deadlines to commence production, leading to licence withdrawals on their part with even increased reluctance for mandate renewals as stipulated in the enabling law. Lagos-based Dangote Group is building a refinery in Nigeria aimed at tackling the country’s fuel deficit even amid heightened concerns about security. Dangote, whose core business is cement, is seeking to realise synergies from using the refined products, such as heavy fuel oil and petcoke, as energy in cement making. The facility would more than double Nigeria’s refining capacity to at least 1 million barrels a day.

had begun with the Ministry of Petroleum to commit one of the three refineries in the country to Jet A1 refining. Sirika disclosed that in his meeting with Ibe Kachikwu, Minister of State for Petroleum, the latter said the Nigerian National Petroleum Corporation (NNPC) would revert one of the refineries on track before the end of the year to begin to refine Jet A1. The minister said with new investments in Kaduna refinery, they would get the refinery back on stream, so that the more they refine, the more the fuel would be available. “The essence of refining it locally is not only to make it available, but to also make it cheaper because the element of importation would be removed,” Sirika said.

Telcos record 60,356 outgoing ported lines in Q2, says report BEARISH The second quarter of 2016 recorded a decrease in porting activity

Kunle Azeez

elecommunications companies in Nigeria have recorded a total of 60,356 outgoing porters in the second quarter of 2016, the latest telecommunications industry performance report by the National Bureau of Statistics (NBS) has shown. Specifically, during the period under review, the telcos recorded a decrease in the amount of porting activity, both relative to the first quarter of 2016 and the second quarter of 2015. Porting activities refer to the transferal of subscribers to different network carriers. Therefore, incoming porting activities refer to those subscribers that have joined a network, whilst outgoing porting activities refer to those whom have left. Meanwhile, the 60,356 outgoing ported lines represent an increase of 13.94 per cent

relative to the 52,973 outgoing porters recorded in the previous quarter, and an increase of 10.58 per cent relative to the 54,581 outgoing porters recorded a year previous. In the outgoing porting activities, Airtel, Etisalat and Globacom each contributed to the increase, recording relatively large growth rates both yearon-year and quarter-on-quarter. MTN was an exception, as the provider recorded decreases over both periods. According to the report, the largest increase in outgoing activity was recorded by Globacom, which recorded an increase of 76.37 per cent, from 7,152 in the first quarter to 12,614 in the second quarter of 2016. “Year-on-year, the increase was lower at 47 per cent, from 8,581 outgoing porters in the second quarter of 2015. Etisalat recorded the second largest increase, of 59.44 per cent or from 4,800 to 7,653 between the first and second quarters, and by 28.88 per cent from 5,938 in the second quarter of 2015. “The number of outgoing porters recorded by Airtel was 13,192; which was 32.12 per cent higher than the 9,985 recorded in the previous quarter and 26.06 per cent higher than the

10,465 recorded in the second quarter of 2015,” it said. By contrast, MTN recorded 26,897 outgoing porters in the second quarter of 2016, which represents a 13.34 per cent decline relative to the 31,036 recorded in the previous quarter and a decline of 9.25 per cent relative to the 29,637 outgoing porters recorded in the second quarter of 2015. Despite the above changes in porting activity, the ranking of the four providers remained the same in terms of the share of outgoing porting activity. MTN accounted for the largest share, in respect of all previous quarters for which there is data. Airtel remained the provider to account for the second largest amount of outgoing porting activity, although at 21.86 per cent, their share is only slightly higher than that of Globacom, which accounted for 20.90 per cent. Etisalat remained the provider to account for the smallest amount of porting activity, accounting for 12.68 per cent in the quarter under review. For incoming porting, there were a total of 61,754 incoming porters in the second quarter of 2016 (across all three months). This compares with a total

of 51,301 in the first quarter, and 54,714 in the second quarter of 2015, indicating increases of 20.02 per cent and 12.54 per cent respectively. The quarter-on-quarter increase was primarily as a result of an increase of 43.15 per cent in incoming porting activity recorded by Etisalat; although given that this provider had seen declines in the previous two quarters, this was only equivalent to a year-on-year increase of 0.28 per cent. Etisalat remained the provider to record the most incoming activity, and accounted for 57.83 per cent of activity in the second quarter of 2016. MTN also recorded a large increase in the number of porters, from 1,353 in the first quarter to 2,878, or more than double. Yearon-year the increase was 31.60 per cent. Despite this, MTN recorded by far the smallest share of incoming activity in respect of all previous quarters, and accounted for 4.67 per cent. Globacom however, recorded a quarterly decrease of 33.96 per cent, from 5,683 to 3,872 between the first and second quarter, and accounted for the second smallest amount of incoming activity at 6.29 per cent.

BUSINESS | Movers, Shakers and Appointments

MONDAY, september 12, 2016 NEW TELEGRAPH

IBM Nigeria names country general manager

BM Nigeria has appointed Ernest Oladipo Faulkner as its country general manager. He succeeds Taiwo Otiti, who served as country general manager for West Africa since 2010, a statement from the fir m said. The new country general manager holds a bachelor’s degree in mechanical engineering from University of Lagos and an advanced mana g ement p ro g r amme

Faulkner

Firms announces new COO

PI has appointed M J Olaore as its chief operating officer. Olaore, according to a statement from the company, will be responsible for the BPI’s day-to-day operational and financial affairs and for the further development of its commercial activities. She joins the BPI from leading independent market research company Firefish, where she had been COO since 2011. Olaore is expected to resume and report to the Chief Executive Officer of the company, Geoff Taylor from November 1, 2016. Already, Olaore had been introduced to BPI members and partners at the BPI’s 2016 Annual General Meeting (AGM). She grew up in Nigeria and Scotland, and studied law at Liverpool University before her first role at Price Waterhouse in London. She has since developed a distinguished and successful career in broadcast media and entertainment, rising to senior management positions at ITN, LBC Radio, Virgin Radio and its successor Absolute Radio, all the while developing a broad range of skills across advertising and sales, IT, broadcast engineering, facilities, legal, strategy and research, finance, and operations. Olaore said: “I am delighted to be joining the BPI at such an exciting and interesting time for the organisation and the recorded music industry that it serves. I know that Geoff Taylor and Ged Doherty have ambitious plans to continue to develop the role of the BPI in promoting British music; I am looking forward to helping advance these, working with the whole BPI team to bring them to fruition. It is an amazing opportunity.” Taylor said: “We welcome MJ to the BPI family and are confident that we will benefit hugely from her extensive senior level experience and from a broad range of skills honed across the media and entertainment sectors. “We are absolutely committed to helping both independent and major labels in the UK to grasp the opportunities that the next few years will offer and to promoting their artists and their achievements at home and around the world. MJ’s arrival will enable us to pursue that agenda more effectively on behalf of our all our members.”

in Nigeria. Also, the company said that Faulkner would provide leadership for IBM’s relationships and corporate social initiatives in the Civil Society, ICT and academic communities. With over 25 years of regional experience, he has been leading IBM’s Global Business Services for Central & West Africa and helped develop strong client relationships in the region.

Firm hires MD for W’African office in Lagos

larion Events West Africa office (CEWA) has appointed Dele Alimi as its managing director in Lagos. Until recently, Alimi according to a statement from the company, was director, Trade Promotion & International Relations, at the Lagos Chamber of Commerce & Industry in Lagos. Clarion Events is a global events and media company, headquartered in the United Kingdom. The new managing director, according to the statement, has over two decades cognate professional experience in various sectors such as media, finance, marketing communication, manufacturing, trade promotion and the service industry. A journalist, marketer, communicator and adminis-

Alimi

trator by training, Alimi, had vast experience in business event organisation. Commenting on his new role, he said: “Joining an international brand like Clarion Events presents an opportunity to lead Nigeria’s foray into excellence in hosting of business events and exhibitions, which will help reposition the Nigerian economy and provide the much needed international investments by organising shows that will expose the deep potential of Africa’s largest economy,” said Dele Alimi. “I believe the synergy between Clarion’s vast international experience and my extensive knowledge of the Nigerian economy will break new ground and establish the brand as the number one show organiser in Africa.”

Three executive directors for NIMASA

F Fashakin

Ahmed

Olaore

cer tificate from Institute de Empressa (i.e), Madrid Spain. Faulkner according to the statement, will be responsible for the company’s overall business in Nigeria with a focus on deploying IBM’s advanced technology capabilities in cognitive, cloud computing, big data and analytics, mobile and security to solve the current and future needs of institutions in key economic sectors across

Jamoh

ollowing the appointment of a Governing Board for the Nigerian Maritime Administration and Safety Agency (NIMASA) by the federal Government, three executive directors have assumed their respective duties. They are Mr. Bashir Yusuf Jamoh, executive director finance and administration, Mr. Joseph Oluwarotimi Fashakin, executive director maritime safety and shipping development, while Mr. Gambo Ahmed is the executive director, maritime labour and cabotage services. According to a statement from NMASA, Jamoh, until this appointment was an assistant director, training and development in NMASA and has over 25 years of public service experience. He had served in the Kaduna State Government before transferring his services to the then National Maritime Authority (NMA) in 1994. Jamoh has had the privileged experience of serving in the operations and administrative departments at management level and

brings this knowledge to bear on his new assignment. Currently, a Ph.D student at the University of Port Harcourt specialising in Logistics and Transport Management, Jamoh also holds a master degree in management from the Korea Maritime and Ocean University in South Korea with a diploma in accounting from the Ahmadu Bello University, Zaria. He has attended management courses at the Said Business School (SBS), Oxford University, United Kingdom as well as the Institute of Public Partnerships in Washington DC, USA. Fashakin is a consummate engineering and project management professional, having graduated from the University of Ife with a bachelor’s degree in electrical and electronics engineering and the Project Management Institute, USA. His experience spans nearly three decades mostly in the private sector. He was at various times project manager, MTN Nigeria, chief operating officer, Hybrid Systems Engineering

Limited, technical manager, Mobile Telecommunication Services amongst other engagements. He is a member of the Nigeria Society of Engineers and Project Management Institute of the United States of America. Ahmed, holds a bachelor’s degree in business administration, actuarial science from the Ahmadu Bello University, Zaria and a master in banking & finance from the Bayero University, Kano. Ahmed has had a successful career in the private and public service as an investment banker with NAL Merchant Bank Limited before becoming the principal secretary to the Kaduna State Deputy Governor and later the principal private secretary to the Kaduna State Governor from 1980 respectively. He was also a director and later chairman, Board of Directors of Mainstreet Bank Limited from August 2012 to December, 2014 following his nomination by the Asset Management Corporation of Nigeria (AMCON) and subsequent approval by the Central Bank of Nigeria (CBN).

BUSINESS |Stock Watch

MONDAY, september 12, 2016 NEW TELEGRAPH

Fidson Healthcare: Forex restriction hits earnings, growth This is not the best of time for the healthcare industry as pharmaceutical companies battle operational challenges, unfriendly government policies with once robust Fidson Healthcare Plc having a share of the crisis, CHRIS UGWU reports

part from the rising cost of raw materials, driven by the challenging macro environment as well as fiscal and monetary headwinds, which have resulted in marked reduction in domestic output, some manufacturers that took up foreign currency liabilities are groaning under the pressure of increased cost of the dollar. Market analysts believe the lingering weak inflow of United States dollars into the economy and the consequent CBN forex rationing measures suggest that there is no near respite for the forex induced pressure. Given headwinds such as weak demand on the back of a squeeze on household wallets, most consumer goods companies in Nigerian have been finding it difficult to weather the storm. In the prevailing scenario, the healthcare industry is not insulated from the negative effect of the harsh operating environment. The sector is still seen as a weaker competitor, compared with international firms despite the potential. In spite of the harsh milieu, some healthcare companies in Nigeria have been rated by some market watchers as doing well according to their capacity, and are contributing to the economic development of the country. Some of these companies are making strong strides on the back of Federal Government’s commitment towards making the sector self-sufficient as well as improving the overall standard and quality of its products and service delivery, thereby making the constituent companies able to compete globally. However, the overall economic and business climate has been a mixed fortune for manufacturing companies Fidson Healthcare Plc due to mounting challenges. The company began the year in an unimpressive note that market watchers attributed to weak consumer demand, stiffer competition and lack of accessibility to key markets in the Northern part of the country coupled with increased financing cost. Market sentiments for the shares of Fidson, one of Nigeria’s leading companies in the pharmaceutical industry and listed on the floor of the Nigeria Stock Exchange, has also dwindled relatively due to challenging environment, just like other quoted firms in Nigeria facing depression in share prices. The share price which closed at N3.41 per share in October, 2015 has recorded a dip in growth that when the closing bell rang on Friday, the company’s share price stood at N1.69, a decline of N1.72 or 50.44 per cent year to date.

Financials Fidson began the 2015 with unimpressive numbers as it reported 78 per cent dip in pre-tax profit for the first quarter ended March 31, 2015. Its profit before tax stood at N61.536 million during the first quarter as against N283.015 million recorded in 2014, accounting for a decrease of 78 per cent. Revenue equally dropped to N1.228 billion in 2015 from N2.699 billion posted in 2014, representing drop of 54 per cent. However, the tide turned during the half year financials as the company posted four per cent growth in profit after tax for the period ended June 30, 2015. The drug maker recorded a profit after tax of N324.2 million during the second quarter as against N310.2 million recorded in 2014, accounting for an increase of four per cent. The company also recorded a modest increase in PBT year-onyear (from N456 million in 2014 to N477 million in 2015), which represents a per cent increase in EPS to N0.22 from N0.21. Fidson recorded 18 per cent growth in profit after tax for the financial year ended December 31, 2015. The company’s audited 2015 financial results released to the Nigerian Stock Exchange showed profit after tax grew from N631 million in 2014 to N744 million in 2015, representing an increase of 18 per cent. However, turnover recorded a 16 per cent decline to N8.21 billion in 2015 from N9.72 billion in 2014, due to the challenges of sales and distribution faced during the 2015 general elections. Fidson Healthcare posted 88 per cent drop in profit after tax for the half year ended June 30, 2016. The company’s half year financial statement showed profit after tax dropped from N324.206 million in 2015 to N39.582 million in 2016, representing a decrease of 88 per cent. Profit before tax was equally down by 88 per cent from N476.774 million in 2015 to N58.209 million during the review period. Turnover dropped by 35 per cent to N2.610 billion in 2016 from N4.034 billion in 2015. Why decline in profits According to the company, the low sales figure recorded was as a result of unavailability of products, a direct consequence of the scarcity of foreign exchange that beleaguered many in the manufacturing sector, which led to it only accessing a fraction of its fx needs in the first six months of the year. The paucity of foreign exchange, for the importation of key products and essential raw materials for manufacturing was

hood diseases, present enormous opportunity for domestic pharmaceutical companies to thrive. “Whilst Q1 is usually a slow quarter, we do not anticipate a material pick-up in overall economic activity level given FX supply constraints and higher inflation. Therefore, we expect Fidson’s performance for the rest of year to likely mirror what we observed in Q1’16 and thus revise our previous estimates and project a 3 per cent YoY growth in overall revenues to N8.5 billion (Previous: N11.1 billion). “Consequent to the revision to our forecasts, our 12 month target price for Fidson is revised downwards to N2.15 (Previous: N3.89) which presents a seven per cent upside potential from current share price levels and thus we revise our recommendation to a HOLD (Previous: BUY),” they noted.

Chairman, Fidson Healthcare Plc, Felix Ohiwerei

disruptive to manufacturers in the pharmaceutical industry. Gross margins dropped to 52 per cent on turnover from 55 per cent in the same period last year, this is a reflection of the direct impact of significant increase in the exchange rate.

Foreign exchange controls hindered Fidson’s ability to procure raw materials

Analysts’ view Financial analysts at CardinalStone Research noted that similar to most sectors of the economy, the pharmaceutical industry was battling macroeconomic challenges which have curtailed growth. They said foreign exchange controls hindered Fidson’s ability to procure raw materials while the fuel shortage witnessed in the last quarter also hampered distribution. “Added to all of this, weakening purchasing power (as a result of rising inflation) resulted in slower growth as consumers likely demanded less of preventive medications and supplements such as nutritionals (Astymin, Astyfer etc). Notwithstanding the current challenges, Nigeria’s low healthcare penetration and of the need to effectively manage infectious diseases, especially HIV/AIDS, malaria, tuberculosis, as well as neglected child-

Fidson Healthcare Plc 2015 October 31

N3.41

November 30

N2.85

December 31

N2.50

January 2016

N2.70

February 29

N2.58

March 31

N2.60

April 30

N2.14

May 31

N2.05

June 30

N2.45

July 31

N1.92

August 29

N1.70

September 30

N1.69

Looking forward The management of Fidson in a statement following its H12016 results reiterated its confidence in delivering better performance in the second half of the year as well as growth in the near future, focusing on its strategies for market expansion and brand building. The company’s cost optimisation strategy, which it embarked on a couple of years ago, continued in 2016 in line with its strategy to drive efficiency in the face of a challenging business environment. This strategy saw Fidson reduce its operating cost by over 60 per cent in the period under review. The company has indicated that it will continue to drive efficiency into its processes, which will continue to result in savings on administrative expenses. “Fidson is optimistic that products will be available to sell given the recent CBN reforms in the fx market. Its growth strategies are premised on the recent move to the company’s new World Health Organisation Good Manufacturing Practice (WHO-GMP), where local production recently commenced,” it said. The company noted that the newly completed state-of-the-art facility would provide several benefits including increased capacity, improved efficiency from economies of scale, increased product offerings as well as job creation with an additional 300 jobs. “Aside from increasing production capacity, the new factory would enhance the company’s business prospects by enhancing its ability to tender for WHO sponsored programmes, which Nigerian pharmaceutical manufacturers are unable to access, losing out to foreign companies in these tenders,” it said. Conclusion The operating environment for Fidson like any other health care company has remained challenging due to intense competition and naira pressure. It is hoped that the company would continue to adapt business strategies to fit the dynamic operating environment.

MONDAY, september 12, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

The Nigerian Stock Market Exchange as at September 7, 2016

Insurance

MONDAY, september 12, 2016 NEW TELEGRAPH

Keeping hope alive amid recession loss of confidence in the insurance industry because people have had bad experiences with the industry. “At NSIA Insurance, we are doing our best to educate the public while selling our products. We try to educate them about the products as well as the policy details and tell them how it works, and the processes one can use to get his claims. “Before we give you the policy, we explain and give you the terms of the policy so when an event occurs you will know whether you are entitled to a claim or not,” he added.

Rather than weigh down their businesses, the prevailing economic development is compelling Nigerian underwriters to revisit their repertoire of knowledge in product design and strategies to woo and retain policyholders, SUNDAY OJEME reports

s the current economic situation takes toll on all sectors of the country, individuals and corporate organisations are putting everything in place to survive it and remain in business. The situation has largely been compounded by the vague approach of government in driving the economy as every step taken has become more confusing. Uncertainty Having enjoyed popular support among Nigerians with his drive to fight corruption, the current administration of President Muhammadu Buhari has, however, taken most observers by surprise in the last couple of months as the various policies being churned out appear to be halting investment and dampening hope of economic growth. Specifically, the situation appears to have compounded the already sorry state of insurance sector as it is well known that any decline in investment or a dip in disposable income automatically affects patronage and premium income growth. The industry, which is generally acknowledged to be battling public apathy, had recently revved up its drive to redefine its battered image in order to attract more clients into its fold. This has largely been made possible by various reforms put in place by the Federal Government through the regulator, the National Insurance Commission (NAICOM), and efforts by individual companies. Effect on underwriting Of late, however, the prevailing economic situation appears to be putting the effort in reverse gear as resources keep declining with most Nigerians uncertain of government’s immediate and long term plans. Already, operators in the industry have predicted a poor outing for the year in terms of premium as a fall out of the Treasure Single Account (TSA) scheme. This newspaper recalled that in the last financial year, the sector could only record a 19 per cent

Commissioner for Insurance, Mohammed Kari

increase in gross premium income under the current administration. One of the operators had in confidence described the current situation as an admixture of event in terms of its impact on insurance, saying that when the economy faces challenge, insurance suffers. He said: “The economy and insurance as you are aware are like Siamese twins. In the last one year, government has been battling with the economy in terms of direction. This indecision is preventing investors from putting down money and it is also encroaching on the disposable incomes of Nigerians, making it difficult to make insurance a priority. You recall that even when the economy was a bit stable, the industry was a fragile, not many people like to be insured. “The other catchment is the corporate. The same thing applies to them. Certain government policies are not giving them idea on what to do. Even now premiums are no longer being paid, basically because of the TSA (Treasury Single Account). Now everything goes into one account. That’s not good for insurance. “In the face of this, however, the sector is expected to pick up with time especially with the consolidation bill. When the bill is eventually signed into law, it is going to impact positively on the industry. At least, the bill will ensure the industry is capitalised to where it should be and it will also ensure the full implementation of Compulsory Insurances.” Surmounting challenges Despite the shortcomings, operators are keeping hope alive with the belief that strategies and structures must be put in place to drive the process positively and profitably. They are not giving up as they work effortlessly to identify the silver linings in the unappealing development. Two weeks ago, for instance, Leadway Assurance in a bid to expand its reach entered into an agreement with Total Nigeria to deepen insurance penetration in the country. According to the General Man-

Ojumah

Even now premiums are no longer being paid, basically because of the TSA (Treasury Single Account)

ager, NSIA Insurance, Mr. Samuel Adetoye-Asare, this period of trial is the best time to diversify and explore the premium potential in the informal sector. He believes the sector, which has been neglected by underwriters in the past, woiuld help insurance companies increase their market share as against the current situation of all of them competing for clients from the formal sector workers. He said: “If the economy is challenged, the insurance industry, just as other industries, is also challenged as most of our clients are from the manufacturing, service and industry sectors of the economy who feel the harsh impact of the economy. “So it is very important for insurance companies to look at the informal sector and bring innovative products to attract them to expand their clientele base.” He, however, called on the government to hasten its diversification process and also stabilise the naira in order to make key sectors of the economy such as manufacturing, service and industry to pick-up to boost insurance business. Decrying the attitude of some operators towards discount, he said the practice was not the best as it is gradually crippling the growth of the industry and affecting solvency and ability to pay claims. He urged players to desist from it and develop innovative products that are tailor-made for customers, saying “if you undercut you charge a lower premium for a higher risk so you are not able to raise enough to pay claims and this brings about loss of confidence in the industry.” He moved for an aggressive campaign of educating the public to understand the policies of the products and customers’ decisions to go for the right insurance policies. “Low penetration of insurance is as a result of limited knowledge of the general public about insurance. As practitioners, we have not educated the public well and this has also resulted in the seeming

Learning from past lull On his part, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Mr Val Ojumah, identified business opportunities for insurance in the non-oil sector in the light of current economic downturn. Ojumah noted: “Just as in the 80s, crude oil prices have declined from 2014 to 2016, triggering sustained fall in Nigeria’s GDP growth over the same period. Other economic indices too have shown the same decline. “However, one must note that economies usually go through a boom-gloom-recovery-boom cycle and as professionals in the insurance industry, it behoves on us to highlight key trends in each phase for strategic planning purposes if we want to remain profitable and relevant in our line of business.” To him, product innovation, refocused distribution strategy and improved service delivery are some of the strategic imperatives that are important for the survival and sustained growth of the industry. He said: “Any practitioner worth his competence must make these three a core of their strategy. Execution may vary from company to company but the basics are pretty the same. Tough times require smarter and more consumer-focused strategies, innovate or miss out. Re-evaluate your distribution strategy or remain stuck in yesterday. Improve your services or lose out to competition. The choice is yours.” Right business plan Also keeping hope alive is the Managing Director/Chief Executive Office, SCIB Nigeria & Company Limited, Mr. Shola Tinubu, who believes that although the increased uncertainty in the environment makes planning for the future become more difficult, how the extra risk is dealt with will, however, determine how businesses fare over the coming months and years. Tinubu said as result of uncertainties in the economy, there is weak demand and pricing environment for insurance services; low earnings and higher wages less money for insurance and some firms at the brim of shutting down. He also observed that household incomes are dwindling with CONTINUED ON PAGE 31

BUSINESS | Insurance

MONDAY, september 12, 2016 NEW TELEGRAPH

Pensioners demand better deal from government INCREMENT The retirees are currently agitating for N25,000 monthly minimum pension for members

few days after pensioners from the South East came out publicly to announce being owed over 15 years gratuity, the umbrella body, National Union of Pensioners (NUP), in Nasarawa State called for an increase in what is currently being paid to the retired elders. This happened alongside agitation in Cross River state where the group also pushed for better welfare through an appeal to President Muhammadu Buhari to save their souls from the pains of poverty following nonpayment of their pension arrears for several months. While in Lafia, the North Central Vice Chairman of the union, Chief Joseph Ajayi, called on the president to consider the payment of N25,000 as uniform minimum pension to retired civil servants in the country, stressing that the approval of the national minimum wage for workers should also be applicable to pensioners. He said: “The situation now where different minimum pension is being paid to pensioners should be addressed. Many pensioners under the defined benefit scheme receive less than N10, 000 monthly. This cannot be regarded as minimum pension and with the present economic situation we believe that no pensioner should receive less than N25, 000

Keeping hope alive amid recession CONTINUED FROM PAGE 30

less income to spend on insurance as there is marginal tendency to consume and the disposable income of clients are shrinking due to the prevalent situations. “To survive the current situation, firms must stay abreast of economic indicators; revisit your business plan; review current projects and plans; communicate effectively to staff; assess exposure to known risks and dependencies. “Besides that, companies must strengthen their brand; improve communications with customers; manage customer’s expectations and increased customer satisfaction; automate processes to increase profitability and apply good risk management mechanisms,” he added. Conclusion No doubt, the cut down on income by individuals and corporate organisations due to recent policies of the government is bound to have adverse effect on peoples’ choices. In this regard, the insurance sector is bound to be one of the hardest hit. In order to remain in business through the period, it is therefore left for the operators to become more innovative in product design in addition to aggressive marketing of the industry.

per month. “In many states, pensioners are owed gratuities and pension running into several months and years. Most states have also not complied with the constitutional provision of reviewing pension after every five years.” He also decried the noncompliance of some state government with the reviewed law, thereby placing some pensioners on N2,000 as monthly pension. In Calabar, the union listed 12 areas where pensioners had been subjected to severe difficulties. The National Vice President, South- South of the NUP, Elder Tubonimi Su-

kuyep, listed the areas to include non-compliance with constitutional provision by the yearly review of five per cent pension, non harmonisation of old and new pensions, arbitrary deductions from pensions, non-remittance of Federal Government counterpart funding into local government pension fund among others. He said: “Pension arrears have piled up over the years during the regimes of past administrations with mountains of complaint forms submitted by pensioners and inherited by Pension Transitional Arrangements Directorate unattended to for several years.”

Sukuyep said the government had not complied with the annual review of pension as stipulated by the Constitution. He also complained of arbitrary deductions from stipends of members, which is negatively impacting on their welfare because their finances are being severely affected. He said: “We do not pay tax, as pension is tax free therefore our rightful entitlement should be 53.4 per cent but as at now only 33 per cent approved for our members are in arrears of thirty months. We would humbly like to plead that death benefits of deceased pensioners should be paid without any further

delay”. Meanwhile, Governor of Bayelsa State, Seriake Dickson has directed the due process office to ensure the payment of 50 per cent to all pensioners in the state, along with salaries of civil servants for the month of August. He also directed that a list of all the pensioners be published monthly as well as sent to the finance committee and other relevant agencies for action. The governor gave the directive when the state Pensions Board and Verification Review Committee presented an interim report on its findings to him in Government House, Yenagoa.

Permanent Secretary, Yobe State Ministery of Education, Taha Muhammad Daura (m) cuts the tape at the commissioning of the History/Economic Centre, Umar Suleiman College of Education, Gashua, Yobe State. With him are the Regional Head, North East, Fidelity Bank Plc., Halilu Malabu (r); Head, CSR & Sustainability, Fidelity Bank Plc., Chris Nnakwe; Yobe State Accountant General, Alhaji Usman Bura and the school provost, Mallam Mohammed Gishiwa.

Insurance vital in times of recession –NIA DG

he Director-General, Nigerian Insurers Association (NIA), Sunday Thomas, has urged the public to secure their belongings in this period of recession with insurance, which remains the best tool to mitigate risks. While giving the advice in Lagos at the 2000-man march awareness campaign organised by the Association of Registered Insurance Agents of Nigeria (ARIAN), he stressed that insurance operators have products to cater for risks faced by individuals on a daily basis. He noted that the awareness campaign was engaged to consolidate the achievements already recorded in Lagos State, which has remained the leading light in insurance. He lauded the Lagos State Government for its supports toward insurance development, stressing that the industry would continue to educate the public to ensure they understand the importance of insurance. “The best way to go now is to keep what you have. You have a building why not insure it, should in case anything happens, so that you can continue to have a house. You have a car, why not insure it, to make sure that should in case anything happens to it and you could

not buy a new car, the one you have can be sustained. “You have children in school, how do ensure that if anything happens to you, their education would not be

affected. There are various policies for all of these. And that is the way to go. In times of recession, Insurance is the last hope,” he said. President of ARIAN, Ola-

merun Gbadebo, said the event was organised to enable the public cultivate insurance culture and expose them to the dangers of self and fake insurance.

PFAs UNIT RATE FOR RSA FUND AS AT 2nd September, 2016 S/No

PFA

Unit Value - RSA

DATE

Premium Pension

3.0738

2-Sep-16

Crusader Sterling

3.0326

2-Sep-16

ARM Pension

3.0159

2-Sep-16

Stanbic IBTC

2.9314

2-Sep-16

Legacy Pension

2.8574

26-Aug-16

NLPC Pension

2.7153

2-Sep-16

Pension Alliance

2.6373

19-Aug-16

Trust Fund Pensions

2.6153

2-Sep-16

First Guarantee Pension

2.5436

2-Sep-16

Sigma Pension

2.5177

2-Sep-16

Leadway Pensure

2.4584

2-Sep-16

AIICO pension

2.3559

2-Sep-16

Fidelity Pension

2.1647

2-Sep-16

FUG Pension

2.1308

2-Sep-16

Apt Pension Managers Limited

2.0868

1-Sep-16

AXA Mansard

2.0675

2-Sep-16

OAK Pension

2.0608

2-Sep-16

Investment One Pension Managers Limited

1.8965

2-Sep-16

IEI Anchor Pension Managers Limited

1.8749

26-Aug-16

IGI Pension Fund Managers Limited

1.5219

8-Mar-16

NPF Pensions Limited

28-Aug-16

BUSINESS | Financial Market News

MONDAY, september 12, 2016 NEW TELEGRAPH

LOW CONFIDENCE Trading in top three equities accounted for 444.004 million shares worth N4.958 billion

Stories by Chris Ugwu

ctivities on the floor of Nigerian Stock Exchange (NSE) ended last week negative as the NSE All-Share Index and market capitalisation depreciated by 0.65 per cent to close the week at 27,577.52 and N9.473 trillion respectively.

BUSINESS | Financial Market News

Stocks end week lower by 0.65% Similarly, all other indices finished lower with the exception of NSE Main Board Index, NSE Insurance Index, NSE Consumer Goods Index and the NSE Pension Index that appreciated by 0.01 per cent, 0.12 per cent, 0.50 per cent and 0.26 per cent respectively while the NSE ASeM Index closed flat. A turnover of 1.183 billion shares worth N10.300 billion in 16,522 deals was traded by investors on the floor of the Exchange in contrast to a total of 1.115 billion shares valued at N13.817 billion that exchanged hands the previous week in 16,083 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.015 billion shares valued at N7.136 billion traded in 11,012 deals; thus contributing 85.83 per cent and 69.28 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 69.777 million shares worth N473.308 million in 564 deals. The third place was occupied by the Services Industry with a turnover of 42.223 million shares worth N75.881 million in 202 deals. Trading in the top three eq-

SEC publishes rules for exposure

he Securities and Exchange Commission (SEC) has unveiled new rules and amendments of some existing rules for the nation’s capital market. The rule for exposure obtained by New Telegraph showed that the rules which include sundry amendments reviewed capital market requirements for sub-brokers. The rule offered amendment of Rule 67(1) (j) to provide that Corporate Sub-Broker (to show) evidence of minimum paid-up capital of N10million as against the existing Rule 67(1)(j) which provides that the Sub-Broker (to show) evidence of minimum paid-up capital of N1million. The rule also showed that the existing Schedule I, Part B(5) which reflects N5 million as minimum paid up capital requirement for Corporate SubBrokers now provides amendment to reflect N10 million as minimum paid up capital requirement for Corporate SubBrokers It added that existing Rule 67(2)(a)(ii) which provides that Individual Sub-Broker (to show) evidence of minimum net worth of N500,000.00 offered amendment of Rule to provide that

Individual Sub-Broker show evidence of minimum net worth of N1million. Also that existing Schedule I, Part B(6) which reflects N500,000.00 as minimum net worth requirement for Individual Sub-Brokers provides amendment of Schedule to reflect N1million as minimum net worth requirement for Individual Sub-Brokers. On the amendment to Rule on trading in unlisted securities – Inclusion of Debt Securities it noted that all Securities of unlisted public companies shall be bought, sold or transferred only by means of a system approved by the Commission and under such terms and conditions as the Commission may prescribe from time to time. A slight amendment replacing the words “unlisted public” with “public unlisted” is being proposed. The new Rule will read as follows: All securities of public unlisted companies shall be bought, sold or transferred only by means of a system approved by the Commission and under such terms as the Commission may prescribe from time to time. The new rule (b) also to provide that all debt securities is-

uities namely – United Bank for Africa Plc, Guaranty Trust Bank Plc and FBN Holdings Plc (measured by volume)--accounted for 444.004 million shares worth N4.958 billion in 4,153 deals, contributing 37.53 per cent and 48.13 per cent to the total equity turnover volume and value respectively. Twenty-four equities appreciated in price last week, lower than 28 equities of the previous week. Thirty-eight equities depreciated in price, higher than 31 equities of the previous week, while 118 equities remained unchanged low-

er than 121 equities recorded the preceding week. Also traded last week were a total of 943 units of Exchange Traded Products (ETPs) valued at N1.357 million executed in 28 deals, compared with a total of 29,242 units valued at N283,495.57 transacted the previous week in 42 deals. A total of 9,140 units of Federal Government Bonds valued at N9.198 million were traded in six deals compared to a total of 4,470 units of Federal Government Bonds valued at N4.313 million transacted the previous week in eight deals.

Low dividend yields turning investors to government securities - FDC T he Chief Executive Officer, Financial Derivatives Companies (FDC) Limited, Mr. Bismark Rewane, has said that low dividend yields from quoted companies are turning investors to government securities. Rewane, who stated this at the recent FDC Executive Breakfast Meeting tagged ‘Recession: How deep and for how long,’ disclosed that profits from quoted companies had fallen by about N178 billion, adding that dividend yield as at August stood at 6.01 per cent as against T/Bills yield of 14.29 per cent. Rewane noted that weakness in macroeconomic condition translated to profitability decline, adding that earnings and profitability fell short of expectations to worsen investor confidence. He listed the impact of recession in stock market to include lower sales, declining profitability, higher P/E ratio, consolidation in most industry and attractive to international investors. Rewane noted that stock market declined in the month of August by 1.47 per cent bringing YTD return of the index to -3.64 per cent. He attributed the situation to crowding out effect of government securities and weak investor sentiments. “August market capitalisation declined 1.46 per cent to N9.47 trillion. The average daily turnover increased 2.18 per cent to N2.56 billion. “Best performing sector in the index was oil & gas with 2.35 per cent while worst performing sector was banking with -2.79 per

cent with average market PE ratio currently at 10.6x,” he said. Assessing the banking industry, Rewane said 74.6 per cent of industry revenues amounted to N1.21 trillion (H1’16) concentrated in Tier I banks. He added that the industry’s profitability was slowed by high loan loss charge offs and rising operating costs. He said impairment charge continued to record high credit losses of N218.9bn for H1’16 from N41.3bn in H1’14 while Tier II PBT for H1’16 was N50.3 billion as against N59.2 billion recorded in H1’14. As stocks are re-priced lower and naira continues to weaken, Rewane said recently that the stock market might witness an uptick in foreign portfolio inflows, which could offer some support for the Nigerian Stock Exchange in coming weeks. Rewane noted that the depreciation of the naira in the foreign exchange market offered attractive valuations for foreign investors, who have however, remained indifferent, citing uncertainties surrounding Nigeria’s foreign revenue and the CBN’s continued intervention in the foreign exchange primary market as reasons for the lethargy. He said: “AS equity risk premium rises and dividend yield falls, we expect investors move to safer assets classes with guaranteed returns.” Rewane, while assessing the state of the market, explained that half-year results of listed companies were lackluster across board with just a few firms posting impressive reports and outperforming analysts’ expectations.

BUSINESS | Interview

Speaker, trainer and consultant, Kachi Ogbonna, is the author of: “How they started: Innovative Nigerian Brands”, an exciting new book on entrepreneurship. In this interview with TONY CHUKWUNYEM, he speaks on topical issues relating to the subject and offers useful tips to aspiring entrepreneurs. Excerpts:

The widespread view is that lack of access to finance is a major problem for SMEs. Given your experience, how serious is the problem and what advice do you have for would-be entrepreneurs? I am perhaps among the very few analysts that strongly disagree with that viewpoint; this is probably because I have had the good fortune of benefiting from a number of grants as a startup. There is a saying that “Idea is the capital, every other thing is just money”. If anybody has a very innovative idea that he believes can become a great business in Nigeria, funding cannot stop him. So many investors and serial entrepreneurs are out there looking for where to put their money. The Federal Government, through the Central Bank of Nigeria (CBN,) has billions of naira set aside as intervention fund for various entrepreneurial programmes. Look at the InterSwitch idea, it was conceived by a then fresh graduate Mitchell Elegbe at the turn of the millennium. Mitchell had done his feasibility study and had a detailed business plan. He realised that the idea will be fully implemented by a whopping N200 million. It was because of the conviction Mitchell had that his idea will end up becoming revolutionary and his ability to communicate and convince others about it through his business plans and pitches that made four commercial banks to risk investing in it. So if Mitchell could attract N200 million as far back as 2002, I believe young entrepreneurs of today can attract any amount they need to start today. Mark Zuckerberg was in Lagos recently; do you think if he discovered any good (tech) idea in Nigeria he will hesitate to identify with it? I think the problem is that most youths are either not aware of these opportunities or they don’t know how to access them. But if any of them can learn the simple skill of doing a good and convincing business plan, they can attract any amount to bring their idea to life. This is exactly what led to my starting the campus programme called CEL Summit and our mentorship programme where we help students discover available opportunities and also package their ideas better. Even the often maligned commercial banks are not as harsh as people are meant to believe. In fact, if you are able to convince a bank about the business opportunity in your idea, they will not only fund it but also can even go ahead to provide insurance for your life to see that nothing happens to you. Most banks have Small and Medium scale Enterprises (SMEs) desks, yet the general impression is that they are not making the required impact.

MONDAY, september 12, 2016 NEW TELEGRAPH

‘Bank loans not good for start-ups’ Do you have any advice for them on how they can improve their services? Like I said earlier, these banks have money and are willing to give it out, but the problem is that by sitting in those their air conditioned offices they will never know the right guys that deserve to be empowered with these funds. Anybody can hire someone to do a business plan for him and when the banks see it, they will release money simply because the person has told them what they want to hear. But it will be more effective if banks collaborate with organisations that are closer to the grassroots (and by that I mean those that interact with young people on a day to day basis) to discover real talents and great ideas that should be funded. How can would-be entrepreneurs guard against theft of their ideas? Thomas Edison said that ideas are in the air. Everybody has got one idea or the other, but what will mark you out is the action you take towards creating a business out of the idea. So instead of wasting one’s energy on how to protect your idea from being stolen I would rather advise that you go ahead and start working on it. Even if other persons are thinking of doing something similar, just add a little innovation to yours and you will still be outstanding. Would you advise Nigerian entrepreneurs to take the risk of applying for bank loans despite the high interest rates? For established entrepreneurs, why not? But for startups, no because there are better alternatives; all they need to do is explore such better alternatives. Such alternatives include entering for various competitions within and outside the country where if they are able to prove the uniqueness and viability of their ideas, they can easily secure grants. Another option is the slogan of SMEDAN, ‘dream big but start small’. No matter how big t h e

idea may be, there must be a way of starting with the little that you have and in the process someone might notice you and identify with you.

Different circumstances and experiences could lead to one becoming an entrepreneur

What in your view distinguishes Nigerian entrepreneurs from their counterparts in the developed economies? First, in developed economies you see from a very tender age, both parents and teachers will spot what a child is good or passionate about and he will be nurtured in that line and given all the necessary encouragement and support to succeed. But here you see parents insisting their children has to become doctors or lawyers and by the time a child insists he wants to learn how to draw for instance, he will be seen as an unserious child and he will not receive enough support to enable him develop faster. Another thing I have also observed today is that majority of those going into entrepreneurship in Nigeria do so for the wrong reason. In other parts of the world you see innovative minds going into entrepreneurship because of passion or the drive to solve a problem and serve humanity. But here, many people put money first and that has hindered the advancement of an otherwise great idea. Some people also think that entrepreneurship is all about being your CONTINUED ON PAGE 35

Ogbonna

BUSINESS | Interview

MONDAY, september 12, 2016 NEW TELEGRAPH

CONTINUED FROM PAGE 34

own boss and before you know it, they either lose their discipline or sense of accountability. Can the Nigerian environment produce a Mark Zuckerberg? Certainly. To be fair to Nigerian youths, I think we have brighter minds in this country than the countries that produced the Mark Zuckerbergs of this world. For me, the most important thing Nigerian techminds need is proper and strategic mentorship. Look at what these guys are doing in Yaba at Co Creation Hub and look at what we are trying to do by building a new entrepreneurs hub in Owerri and you will know that sooner than later we will have our own Silicon Valley where ideas can be incubated and the results will prove how good these our guys are. There seems to be widespread agreement that agriculture holds the key to Nigeria’s economic revival and many unemployed graduates are being encouraged to become farmers. What is your position on the current emphasis on agriculture especially with regard to advice to unemployed graduates to try their hands at it? Of course, agriculture holds the key to a great extent. Imagine till today we still cannot provide enough rice to stop the importation of rice into this country, we still import fish and chicken and these are products that don’t necessarily need specialised skills to produce. If my records are right, in 2015 we spent over $10billion importing different types of food into this country. I think God has blessed us with the land mass, good soil, good weather and the manpower that we should be able to produce more than we are doing presently and I insist that there are lots of opportunities for those that will want to give a chance to agriculture. However, I don’t think agriculture is all about farming, there is so much more to agriculture than just farming. The poor state of the economy is forcing governments both at the State and Federal level to introduce all manner of taxes that will clearly discourage would-be entrepreneurs. How should government balance its desire to promote entrepreneurship and its quest to generate revenue? My view on this is very simple. If the government is introducing so much tax that would discourage young entrepreneurs I think it shows they are not thinking long term. We all know it is a trying time for our economy today but I believe entrepreneurship is still the way out. Whatever sacrifices the government can make in the short term to help encourage startups and innovative business ideas should be adopted. Government should think of how to guard against leakages in its expenses from other areas because I believe that even with the present difficulties in the country yet there is still so much waste and leakages in the way government manages its resources, and young startups should not be the ones to fund such waste otherwise we will be eating our tomorrow today. With so many people losing their jobs due to the bad economy, a lot of them are becoming entrepreneurs in order to make ends meet. What specific advice do you have for such people? My advice for them is that he who is down fears no fall; they are already down and should not be too scared to dare. They should not be afraid to try out something; you never know what you are capable of doing until you try. They should look inward and ask themselves the question “what can I do” and every human being on earth has got something he is capable of, no one is empty-headed. The only challenge is that once some people get job, after one year they will fall into a routine and their brain will automatically ‘stop working’ and they begin to think they cannot survive without that job. As a matter of fact, once they lose their jobs they begin to see themselves as victims. They immediately look for whom to blame, if it is not their colleague, it will be their boss or it can even be

Ogbonna

Age is not a factor in entrepreneurship... It is about passion and willingness

Buhari. As they are looking for whom to blame one question they don’t ever sit down to reflect on is the fact that this company they have been sacked from was founded by just a human being with one head like themselves. But I would rather they see it as opportunity to do something different and maybe better. I would rather they see it as a blessing in disguise. If they can ask and answer this question of “what is that thing that I am capable of doing very well?’ Whatever their answer is, they should prayerfully go into it, asking as many questions as possible from those that have proved to be a success in similar ventures. There could have been nothing like Tantalizers today if Bose Ayeni was not sacked by then Lever Brothers in 1991. So, who knows if losing their job might just be a perfect opportunity to help them discover their true selves and create an enduring brand. We have some higher institutions offering courses in entrepreneurship. What level of training should one undergo to become an entrepreneur?

Education: Bachelor of Engineering (Electrical Electronic) – 2010 Career: Managing Partner, MiH Consulting Limited, August 2015 – Present (1 year 2 months) Field Engineer, Telnet Nigeria Limited, August 2014 – October 2014 (3 months) Business Development Associate, i-Skill Limited, November 2013 – May 2014 (7 months) Trainer, Speaker, Business Developer, Author and Youth Consultant Institute of Strategic Management Nigeria (ISMN) - 2012 Cisco Certified Network Associate (CCNA) - 2013 Business Development Masterclass - 2014 Information Technology Infrastructure Library (ITIL) 2014

It is actually a Federal Government directive for entrepreneurship studies to be introduced as a course in all higher institutions of learning across the country as a way of addressing the unemployment challenge facing us as a nation. But the problem with what those institutions are doing is that their entrepreneurship studies are just another classroom talk. Though we can’t benchmark any level of training for would be entrepreneurs, yet I strongly recommend that our higher institutions review their entrepreneurship curriculum to include mentorship programmes with entrepreneurs and consultants with experience that can help students gain deep insight into the areas they would like to venture into. This is one of the things we want to address by introducing entrepreneurship summit and mentorship programmes on campuses and luckily it has been welcomed by the Entrepreneurship Development Centre of the institutions we have been to and today we have over 350 students in our mentorship platform, all of them with innovative and brilliant ideas we are helping them to develop. Are entrepreneurs born or made? My experience in entrepreneurship shows that no one was born and given the name ‘entrepreneur’. Different circumstances and experiences could lead to one becoming an entrepreneur. Some people become entrepreneurs because of the passion they have for a particular thing, others because of their commitment and desire to solve a particular problem while for others it was just a means of making ends meet. So, I can say that entrepreneurs are made. In what circumstances could age be a factor in entrepreneurship? Age is not a factor in entrepreneurship. If you look at my book, you will notice that teenagers started some of the great brands featured. It is about passion and willingness to create value and not about the age. Perhaps the thing to note about age is that the younger the person, the more the need for mentorship and to be guided along that path. Let me also add that at the other extreme, it is never too late to start. No matter how old you may be, when you discover a problem you can solve for the benefit of mankind you can still venture and create a great business out of it, even if money may not be the motivation - of course it is not always about money.

BUSINESS | MONEYLINE

MONDAY, september 12, 2016 NEW TELEGRAPH

Forex sale to BDCs: CBN may replace banks with Travelex Looming Apex bank aims to boost dollar supply

Tony Chukwunyem

ollowing widespread complaints from Bureaux De Change (BDCs) operators that banks are not meeting their demand for dollars, the Central Bank of Nigeria (CBN) may be planning to dump the lenders and hand over that role to global foreign exchange (forex) dealer, Travelex, New Telegraph has learnt. The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadebe, who dropped this hint in a chat with New Telegraph at the weekend said that the association had been meeting with CBN officials on the issue, adding that ABCON members believe that Travelex would be more effective in ensuring adequate sales of dollars to BDCs since it had become obvious that banks were not willing to perform that role. He said: “Most of our members are still not able to buy dollars from banks despite their best efforts. So we have decided that it will be better if Travelex takes over. We have

discussed with the CBN and we are only awaiting CBN’s approval for the new arrangement to take off.” Also, a Lagos-based BDC operator, who spoke on condition of anonymity, said: “The banks are just not ready to sell dollars to us. I have tried several banks for over a month now and I have still not been able to buy dollars from any of them. It is like the banks are using the forex for other things and the CBN is unable to monitor them. So, most of us believe that the situation will be better under Travelex. Even if it is only $5,000 that

the company is able to sell to each of us, it will be better than not getting anything at all.” The CBN had in circular dated July 22, 201 directed agent banks to approved international money transfer operators to sell foreign currency accruing from inward money remittances to licenced BDCs. It said the move was part of efforts to ensure stability of the exchange rate of the naira. The Apex bank said that all international money transfer operators would be required to remit foreign currency to agent banks for disbursement

in naira to beneficiaries. However, following complaints by the BDCs that banks were not selling dollars to them, the CBN, at the end of the Bankers’ Committee meeting last month, approved an increase in the maximum amount that could be sold to the BDC operators from $30,000 to $50,000 per week. In addition, as part of efforts to boost forex liquidity in the system, the regulator recently licensed 11 new International Money Transfer Operators (IMTOs). Despite these measures, BDCs continue to complain of their in-

Rivers lauds Heritage Bank on youth empowerment

iver State government has commended Heritage Bank for its role in enhancing youth entrepreneurship development and engendering self-employment through its various initiatives and products. The government lauded the bank’s effort to lead the recovery of the Nigerian economy via schemes such as the administering and management of the Central Bank of Nigeria’s N3Billion Youth Innovative Entrepreneurship Development Programme (YIEDP) and its partnership with the Centre for Values in Leadership (CVL), which recently graduated 100 young entrepreneurs in the CVL Young Entrepreneurship

Training Programme (YETP). The Deputy Governor of Rivers State, Dr. Ipalibo Banigo stated this at the one-day Leadership, Entrepreneurship and Development (LEAD) Summit, hosted by the Rivers State Sustainable Development Agency (RSSDA) in partnership with the Second Opportunity Africa Foundation and Heritage Bank Plc. Speaking on the summit, titled, “Youths Leading Entrepreneurs in Non-Oil Economy,” Banigo said Heritage Bank has shown good faith to the youths which goes on to portray the welcoming nature of the Rivers man personified in the person of their son, ‘’Ifie Sekibo.’’

Meanwhile, the wife of the Governor, Justice Suzzette Nyesom-Wike affirmed that the LEAD Summit was the first of its kind in the state, while commending the bank for its supports to Nigerian youths. The MD/CEO of Heritage Bank, Ifie Sekibo, who was represented by the General Manager, South Bank, Davidson Regha said that the drive to continue in the support of youths was to create, preserve and transfer wealth across generations. He explained that the entrepreneur schemes of the bank in the support for business had always focused on dependable job-creating sectors, such as agricultural value chain (fish

Ajimobi commends Sterling Bank’s partnership on environmental sustainability

he Governor of Oyo State, Senator Abiola Ajimobi has commended Sterling Bank Plc for partnering with the state government to make the state one of the most environmental friendly states in the country. The Governor, who made the commendation while receiving reflective coveralls donated by the Bank for use by members of the Oyo State Waste Management Authority in Ibadan, at the weekend noted that the uniforms would protect the highway managers against occupational hazards which they face in the discharge of their responsibilities on a daily basis. With the donation of the uniforms, the Governor who was represented by his Deputy, Chief Moses Alake Adeyemo, also noted that Sterling Bank had demonstrated its commitment to environmental sustainability. His words: “These coveralls without any doubt will make the Highway Managers visible from afar and prevent the incidents of motorists running into them. It will provide safety against occupational hazards, give them a sense of dignity and elevate their status as they see themselves as very relevant to the society through the service they provide”. While reaffirming his administration’s commitment to main-

ability to buy forex from the banks. Interestingly, it will be recalled that BDCs early this year had alleged that the CBN was grooming Travelex to replace them (BDCs) as retailers of forex for end users. Travelex is the world’s largest foreign exchange bureau specialised in international payments, Bureaux de change and issuing prepaid credit cards for travellers. In 2000, it bought Thomas Cook’s worldwide forex business for £440 million, expanding significantly its international operations.

taining good environmental sanitation, the Governor stated that his administration would continue to take proactive steps towards waste management and sanitation in the state. The Managing Director, Sterling Bank Plc, Mr. Yemi Adeola, said the presentation of coveralls was in line with the bank’s strategic focus on the environment as one of its corporate’s social responsibility priorities. He added that the Bank was already in partnership with other states to ensure environmental cleanliness nationwide. The Sterling Bank boss who was represented by Mrs. Temiwunmi Banjoko, the Business Executive of the Bank in the South West also said: “At Sterling Bank, environmental cleanliness is one of the cardinal points of our Corporate Social Responsibility and that informs the Bank’s continued commitment of enormous resources towards ensuring that the environment where we live is habitable. As the Bank embark on this mission, we consider it of utmost importance to protect those whose job it is to manage and clean the environment. That is why we came up with the idea of producing coveralls for highway managers to ensure their safety, make them more relevant in the society and dignify them while discharging their duties”, he reiterated.

farming, poultry, snail farming), cottage industry, mining and solid minerals, creative industry (tourism, arts and crafts), and Information and Communications Technology (ICT). Sekibo, restated that the aim of Heritage Bank being in the forefront of youth empowerment is to emancipate the latent entrepreneurial spirit in the teeming youths, by providing adequate and affordable loans to execute their business ideas and, hopefully, migrate them to successful Small and Medium Enterprises (SMEs), thereby, providing the mechanism of stimulating growth, reducing unemployment as well as addressing youth restiveness in the economy.

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 17.1

Mar, 2015 Mar, 2015 July, 2016

14 10.77 US$49.29 US$25,157,243,447

26/07/2016 Mar 2015 8/9/2016 8/9/2016 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 ▲

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Eid-el-Kabir

monday, september 12, 2016 NEW TELEGRAPH

national | news

Governors charge Muslims on peace, unity, hope Our correspondents

igerian state governors and some other leaders yesterday joined in wishing Muslims all over the country a happy celebration as the Eid-elKabir is marked today. In separate messages sent out yesterday, various state governors called for a renewed spirit, unity of purpose in Nigeria and the need to keep hope alive as the country marches through a difficult time. Aregbesola Osun State Governor, Mr. Rauf Aregbesola, charged Muslims to pray for the peace and stability in the country. Aregbesola made the charge in a statement signed by his Director, Bureau of Communication and Strategy, Mr. Semiu Okanlawon, to felicitate with all Muslims in the state on the celebration of this year Sallah festival. The governor argued that, the country would make progress towards the fulfillment of its great potentials as a nation if Nigerians promoted peace, security and stability, which are very essential for development by showing greater respect for national safety and public order laws. Quoting the Holy Qura'n chapter 22:37, he said: "It is not their meat nor their blood, that reaches Allah: it is your piety that reaches Him: He has thus made them subject to you, that ye may glorify Allah for His guidance to you: And proclaim the Good News To all who do right," Aregbesola said the sacrifice of rams was in commemoration of Abraham and Isma’il’s great self sacrifice, trust, obedience and belief in Allah. Ambode Lagos State Governor, Mr. Akinwunmi Ambode called on Muslims in Nigeria to imbibe the values of sacrifice and endurance as they join their counterparts worldwide to celebrate this year’s Eid-el-Kabir. In his Sallah message signed by his Chief Press Secretary, Mr Habib Aruna, Ambode said the period of the celebration was one that called for every Muslim and other Nigerians to embrace the tenets of sacrifice, patience, humility and brotherly love. He explained that the significance of the season should be beyond the festivities, adding that it should be a moment to reflect on why God has united everyone with a common humanity of blood, food and water as

man adding that more emphasis would be placed on Economic empowerment and poverty alleviation, infrastructure, Environment, Health, Agriculture, and education among other key sectors of the economy.

Passengers getting on the train as commuters depart Abuja for the Sallah Holidays on the fully operational AbujaKaduna train services at the Idu Train Station, Abuja. PHOTO: TIMOTHY IKUOMENISAN

these should constitute what binds the people. “As we celebrate this auspicious occasion, let us renew our faith in our nation and implore the Almighty God to restore to us those values that place high premium on human life, love of neighbour and sharing even as we ventilate our faith in the unity of our dear country and the possibility of her taking her place in the comity of nations”, the Governor said. He said the prevailing economic recession currently taking its toll on Nigerians was only a phase that would pave the way for a new dawn in the country, saying the Federal Government was making steady efforts to salvage the situation. Ahmed In his message, the Kwara State Governor, Alhaji Abdulfatah Ahmed, urged Muslims to sustain the enduring lessons of love, compassion, sacrifice and faith in Allah that Eid -el Kabir represented by making such characteristics enduring virtues in their lives. The governor’s call came as a chieftain of the All Progressives Congress, (APC), Alhaji Abubakar Kawu Baraje called for prayers to enable the country overcome the current economic recession. Ahmed in the message issued by his Chief Press Secretary, Abdulwahab Oba, charged all Nigerians, irrespective of their religious beliefs or ethnic differences, to transform such diversities into platform for national cohesion, understanding and development. "There's undoubtedly potency in the diversities of our nationalities that we can drive collectively in the quest for socioeconomic and technological transformation and advancement of the Nigerian space," he said. Amosun Ogun State Governor,

Senator Ibikunle Amosun, urged Muslims and indeed all Nigerians to work in unity and pray for the progress and prosperity of Nigeria. The governor, who stated this as part of his goodwill message for the Eid-el-Kabir festival, also called on all Nigerians, irrespective of their religious, ethnic or political leaning to join hands in support of the efforts of the Federal Government towards revitalizing the Nigerian economy. Ugwuanyi Governor Ifeanyi Ugwuanyi of Enugu State appealed to Nigerians, especially Muslim faithful, to use the advantage of the period to offer special prayers for the unity and co-peaceful co-existence of the nation. The governor in a message to Muslims stated that it was only through prayers and absolute faith in God that Nigeria can overcome her current socio-cultural and economic challenges. The governor harped on the need for peaceful co-existence among Nigerians irrespective of their religious and ethnic differences, adding that the God, “who brought us together as one entity, will certainly take the nation to the dreams of our founding fathers.” He also urged Nigerians to love and appreciate one another and avoid any ungodly act that could lead to disunity. Ajimobi The Governor of Oyo State, Senator Abiola Ajimobi, asked the country’s Muslim community to imbibe the spirit of togetherness, peaceful co-existence and love towards one another as exemplified by Holy Prophet Muhammed (SAW). A statement by the governor’s Special Adviser on Communication and Strategy, Mr. Yomi Layinka, added that the country needed these attributes to

achieve the desired greatness. The governor said, “I want to assure the citizenry that this administration will continue to introduce people-friendly policies and explore other avenues that would bail the state out of its current economic doldrums.” Fayose Ekiti State Governor,Ayodele Fayose, urged Muslims to adhere to the tenets preached by the Islamic faith, which he said are those of perseverance, tolerance, peace and love for one another. Citing the Holy Quran: 2, 208, which says: " O you who believe enter absolutely into peace (Islam), do not follow in the footsteps of Satan. He is an outright enemy to you", Fayose said the word Islam itself is derived from the word meaning "peace" in Arabic. He said that Islam is a religion revealed to mankind with the intention of presenting a peaceful life where the infinite compassion and mercy of God manifest on earth. The governor, in a statement by his Chief Press Secretary, (CPS), Mr. Idowu Adelusi, and made available to newsmen in Ado-Ekiti, yesterday, also urged all Muslims in Ekiti to ensure that they adhere to these tenets of the peaceful religion Islam and live in peace with one another, regarding everyone that come their way as brothers and sisters. "We are all one another's brother's keeper and so we should leave peacefully, tolerate one another and most of all persevere in this era of economic recession, which I'm sure will be short lived." Wike Rivers State Governor, Nyesom Ezenwo Wike, has felicitated with Nigerian Muslims on the occasion of the Eid-elKabir celebration, urging them to emulate the Holy Prophet Mohammed by

imbibing the ideals of sacrifice exemplified by the Prophet . In a message issued by Simeon Nwakaudu, the Special Assistant to the Rivers State Governor on Electronic Media, Wike said Eid-el-Kabir is a season of Love, Peace, togetherness and Sacrifice. He urged all Nigerians to embrace religious tolerance which would promote peace across the country and enhance national development. The governor prayed God to use this Sallah period to impact positively on the lives of Nigerians. He assured the people of Rivers State that the state government would work with the security agencies to ensure that all citizens celebrate the Sallah in peace and harmony. Abubakar Kano State Acting Governor, Professor Hafiz Abubakar, MFR has called on Nigerians to embrace one another and assist the needy among them, considering the economic recession in the country. “Indeed, we are passing through trying moments and we have a moral responsibility to assist the needy, widows, orphans and the vulnerable among us so that we alleviate their suffering”, he stated. In a Message to mark the Eid el - Kabir, signed by the Public Relations Officer in the Deputy Governor`s Office, Balarabe Abdullahi, Abubakar explained that helping the underprivileged, the weak, the needy and the sick is key virtue in Islam. “Caring, sharing and sacrifice for common good are lofty virtues handed down to us by the Holy Prophet P.B.U.H. As Muslims, we must exemplify these traits especially now when we are facing serious hardship in the country”, he added. Professor Hafiz said on its part, the state government would continue to do its best to assuage the suffering of the common

Tambuwal Despite the current economic challenge confronting the country, there’s hope that measures put in place by the government would yield positive result and return Nigeria to path of growth and financial stability, Sokoto State Governor, Aminu Waziri Tambuwal, has said. In a message to commemorate this year’s eidel-kabir celebration issued in Sokoto by his spokesman, Malam Imam Imam, Tambuwal said reforms instituted by the APC-led Federal Government were necessary in order to halt the drift and kick-start the journey to development and self-reliance. “We may be facing tough challenges now, but I believe they are just for the short term. Measures put in place by government will have positive impact in the medium and long term. This administration has shown strong will to diversify the economy and reduce reliance on oil. That measure has started yielding result,” he said. The governor said in Sokoto, various initiatives have been implemented to mitigate the effect of the economic downturn, with majority of the people of the state answering government’s call to return to farm. Osun Speaker In a statement, Osun State House of Assembly under the leadership of Rt. Hon. Najeem Sallam, urged Nigerians to celebrate this year’s Eid-elKabir with fervent hope, sense of gratitude to God and prayers for the governments at the National and state levels to turn around the economy of the country. In a message, signed by the Chairman, House Committee on Information and Strategy, Olatunbosun Oyintiloye, the Assembly said that the economic situation, currently facing the nation required all support needed in the administration's strive towards rapidly overcoming its challenges. According to the statement, “It is a public knowledge that the President Muhammadu Buhari-led administration has designed economic strategy that would eventually make Nigeria better than what it was.”

NEWS | national

Eid-el-Kabir

monday, september 12, 2016 NEW TELEGRAPH

Kalu calls for peace, tolerance Nigerians must pray for peace, economic recovery –APC E T minent businessman and former Governor of Abia State, Dr. Orji Kalu, has called on religious leaders to use their platforms to educate their followers on the importance of peace and unity. He noted that no tangible development can take place in an atmosphere of chaos. According to Kalu, the ideals of Prophet Mohammed should be embraced in our daily lives, adding that Islam preaches love, togetherness, sacrifice, selflessness and alms-giving. In a statement signed by his Special Adviser, Alhaji Kunle Oyewumi, Kalu said: "It is yet another Eidel-Kabir. We praise Allah for granting us the grace to

witness this year's celebration. “It is a season for sober reflection and self appraisal as individuals and as a people. “In the spirit of the festivity, let us use this occasion to offer special prayers for people at the helm of affairs, especially at this time the country is faced with multi-faceted challenges. “For the sake of national well-being, the political class must imbibe the acts of selflessness, determination and patriotism in their daily pursuits, not forgetting the fact that leadership is a privilege to serve the people and not for selfaggrandizement and accumulation of ill- gotten wealth”. The former governor

used the opportunity to call on Nigerians irrespective of party affiliations to support the President Buhari-led government in taking Nigeria to enviable heights, adding that with the current state of the nation, all hands must be on deck to complement government efforts aimed at making life meaningful for the people. Kalu equally used the occasion to appeal to the Niger Delta Avengers (NDA) and other militia groups to sheathe their swords for the sake of peace, pointing out that the bombing of oil installations in the Niger Delta has crippled activities in the Nigerian oil and gas sector.

he All Progressives Congress (APC) has joined Muslims across the country in rejoicing over the joyous occasion of Eid-el-Kabir. In a statement signed by the APC National Chairman, Chief John Odigie-Oyegun yesterday, he urged Muslim faithful and indeed all Nigerians to use the occasion of Eid-el-Kabir to show love and promote harmonious and peaceful co-existence with one another irrespective of ethnic or religious affiliations.

The APC National Chairman also urged Nigerians to pray for peace and quick recovery of the nation's economy. Odigie-Oyegun: “Muslim faithful and indeed all Nigerians are enjoined to use the occasion of Eidel-Kabir to pray for the peace, development and prosperity of the country. Indeed, Nigeria is today passing through

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

challenging times in its socio-economic life. The party calls on Nigerians to pray and support the administration as it works assiduously to pull the country out of the present hardships and restore the country on the path growth in all facets. “Happily, the President Muhammadu Buhari-led APC administration is already employing all legitimate and innovative means to restore the country’s battered economy back to health in the quickest possible time.

Nigerians in last minute shopping for Eid-el-Kabir celebration at Oshodi Market in Lagos…yesterday.

PHOTO: GODWIN IREKHE

22,000

CAN wants national prayers Yekeen Nurudeen Abuja

s Muslims in Nigeria join the rest of the world to mark this year’s Eid-el-Kabir celebration, the Christian Association of Nigeria (CAN) has urged Islamic faithful in the country to use the occasion to pray for peace and unity in the country. In a congratulatory message issued yesterday by its President, Reverend Samson Ayokunle, to all Muslims in the country,

the Christian body also called for prayer for "progress of our fatherland, President Buhari and the government of the day to be able to lead us to better days ahead". While acknowledging the hard economic situation in the country, Reverend Ayokunle also urged believers to have trust in God saying " the God that provided a ram for Abraham in the barren desert is going to provide for you and meet all your needs, not only in the time of this celebration but beyond".

Tinubu urges hope, sacrifice Temitope Ogunbanke

he National Leader of All Progressives Congress (APC), Asiwaju Bola Tinubu, has urged Nigerians to see the current economic situation in the country as a passing phase. He said Nigerians should allow the spirit of sacrifice and unselfish giving that defines Eid-elKabir celebration to guide them in their quest for a better society. Tinubu, in an Eid-elKabir message issued yesterday by his media office, said the present cir-

cumstance demands the need for government to look inward and boost the agricultural sector, which according to him, will lead to the diversification Nigerians have longed for. He assured Nigerians that the Muhammadu Buhari administration was committed to a better country, more empowerment, job opportunities and an overall strong economy, which they deserve. “This spirit of sacrifice and unselfish giving that defines this celebration must guide us all in the way we relate to others and in our quest for a better society."

Police put worship centres under surveillance Musa Pam Jos

lateau State police command has placed worship centres under 24 hour surveillance ahead of the Eid-el-Kabir celebration. Newly posted Police Commissioner, Peter Ogunyanwo, made the disclosure during a press conference in Jos at the weekend. He said that the Police in the state was not leaving anything to chance in its determination to ensuring that the Sallah celebration

was observed in an atmosphere devoid of violence or terrorist attacks. "As part of the partnership with communities and other stakeholders, the Police in Plateau has initiated opinion boxes to be placed within communities as a strategy to get information that will ensure a more secured society ". He called on people of the state to go about their lawful business as men of the force would be on ground to protect lives and properties.

Fayemi advocates love, sacrifice Soun preaches good governance

he Minister of Mines and Steel Development, Dr. Kayode Fayemi, has felicitated with Muslims on the occasion of the Eid-el- Kabir, urging them to uphold the lessons of love, loyalty and sacrifice which is the foundation of the festival. Fayemi, in a goodwill message signed by his Special Assistant on Media, Mr. Yinka Oyebode, said the Eid-el-Kabir festival offers the opportunity for sober reflection and spiritual renewal which Allah demands from the faithful. While urging that the celebrations be done with moderation, the minister said that the lessons of

perseverance, sacrifice and loyalty which Eid-el-Kabir teaches should remain the dominant factor in spite of the pomp and ceremony that accompany the festival. According to him, “Allah brought victory and joy to Prophet Ibrahim and his son, Ismail, after the duo demonstrated uncommon sense of sacrifice in fulfilling His will.” Fayemi also urged the Muslim faithful and adherents of other faiths in the country to make peaceful coexistence and harmony their watch words and work together for a more peaceful and prosperous Nigeria.

Better days ahead, says FCT Minister Yekeen Nurudeen Abuja

inister of the Federal Capital Territory, Malam Muhammad Musa Bello, has congratulated Muslim faithful across Nigeria, especially those resident in the Federal Capital Territory, Abuja as they mark this year’s Eid-el-Kabir. The Minister in a Sallah Message urged Muslims to use the occasion to reflect on the lessons of the festival and the teachings of the doctrine

of Islamic faith, which is premised on sacrifice and peace. The Minister specifically recalled the story of Prophet Ibrahim’s attempt to sacrifice his then only son, which culminated into the celebration of Eid-el-Kabir to commemorate his (Ibrahim or Abraham’s) willingness to follow Allah’s (God’s) command to sacrifice his son. Bello emphasized that the occasion should also be used to foster unity by making exemplified sacrifice.

oun of Ogbomoso, Oba Oladunni Oyewumi Ajagungbade 111, has called on the Muslim Ummah to use the occasion of Eid-el-Kabir to offer special prayers for leaders at all levels of government. According to the monarch, in the spirit of Sallah, Nigerians must be bury their differences in order to work together for the progress of the nation. In a statement signed by his Private Secretary, Toyin Ajamu, Oba Oyewumi said, “As we celebrate this year’s Eidel-Kabir, I wish to urge

Muslims to embrace the teachings of the holy Qu’ran and exemplary qualities of Prophet Mohammed by demonstrating love, togetherness, brotherhood, selflessness and alms-giving in their daily pursuits. “As a nation, we must continue to live in peace and harmony regardless of ethnic, political and religious differences. We should see our heterogeneous nature as an advantage and not a misfortune. “Let us remain lawabiding and patriotic in order to build a prosperous nation”

Remember the teachings, says Akpabio

he Senate Minority Leader, Godswill Akpabio, has charged Muslim faithful not to forget the very tenets of the religion, which are love, obedience and perseverance, as they celebrate eid-el-kabir. Akpabio, whose goodwill message was contained in a release by his Special Assistant on Media, Jackson Udom, urged Nigerians to eschew bitterness and hatred and imbibe the spirit of love, unity and faith as they celebrate eid-el-kabir today. He added: “It is only in

a state of peace and tranquility that governments at all levels would be able to get the country out of the current economic recession". Akpabio assured the people that government at all levels were working round the clock to reduce the economic hardship currently being faced by the masses with a view to returning the country to the path of greatness and prosperity." He charged Nigerians to continue to use the period to pray for the leadership of the country.

News|south-WEST

monDAY, September 12, 2016 NEW TELEGRAPH

NBA dismisses petition against Kashamu’s lawyer TundeOyesina Abuja

he Legal Practitioner and Disciplinary Committee of the Nigerian Bar Association(NBA) has dismissed a petition alleging professional misconduct against one Ajibola Oluyede, a lawyer to a chieftain of the Peoples Democratic Party (PDP), Senator Buruji Kashamu. In a letter dated September 8, 2016, the umbrella body of lawyers in the country said the petition against Oluyede by Godwin Obla (SAN) discloses no prima facie case of professional mis-

conduct against the lawyer. In the petition against the lawyer before the NBA, Obla denied leaking the information of an alleged plot to abduct and extradite the politician to the United States of America in order to face trial over alleged drug-trafficking offence to Oluyede. In an affidavit before the court, Oluyede maintained that the plot was leaked to him by a Senior Advocate of Nigeria, Chief Godwin Obla. Obla is believed to be close to the immediate past Attorney General of the Federation and Minster of Justice, Mr. Mohammed Adoke

(SAN), from whom he (Obla) allegedly got the information. Obla, who denied having or leaking the information eventually dragged Oluyede before the disciplinary committee, accusing him of fabricating the story to make his client’s case look good. The silk said he could never have had and shared such a piece of information with Oluyede, whom he said was no more than a professional acquaintance to him. After hearing both parties, the disciplinary committee in a statement signed by Mr Isiaka Abiola Olagunju, which was addressed to Obla, said, “We write to inform you that

the NBA Disciplinary Committee, Abuja panel B, has concluded the hearing of your petition. It is the decision of the panel that your petition does not disclose a prima facie case of professional misconduct. Therefore, your petition against the respondent (Oluyede) is hereby dismissed”. The controversy started with a petition dated April 15, 2015, which was authored and sent to the National Human Rights Commission by Oluyede on behalf of Kashamu. Oluyede had stated in the petition that Obla leaked the information to him while they were both on a flight from Abuja to Lagos. Following Obla’s denial of leaking the information, Oluyede again reacted by insisting that the information was unsolicited when Obla offered it to him as a “whistle blower.”

Osun youths complete training in Germany

sun youths newly trained in agricultural production returned to Nigeria at the weekend with a promise to create a huge impact in the agriculture and general food production sector of the country. The youths who were sponsored to Germany by the state government, gave the assurance on their return to Osogbo after their two months trip abroad. The youths, numbering 20, were received by officials of the Osun Ministry of Agriculture, Food Security and Youth Engagement at the Muritala International Airport, Ikeja Lagos. It will be recalled that the state government had previously in 2013 sponsored 20 youths to Germany on the need to acquire knowledge in modern agricultural practices with greater im-

pacts in various aspects of agriculture in the state. This initiative was part of the state’s resolve to banish hunger, enhance wealth through massive increase in food production and agriculture as well as providing assistance and support to farmers in finding and exploiting profitable agricultural practices. However, in his remarks, the leader of the youths, Adebayo Waheed Adekunle, who described the initiative as timely, necessary and a wise intervention, said the team was ready to bring about the development needed in agriculture. Adekunle said every member of the team was also ready to translate the experiences they gathered in the course of the training to effect greater agricultural production.

Ekiti monarch bans masquerade festival Wife of the Oyo State Governor, Mrs Florence Ajimobi (second left); wife of Lagelu Local Government Caretaker Chairman, Mrs Florence Adedeji (left), during the handing over food items to the beneficiaries of the quarterly Ajumose Food Bank Initiative in Ibadan… at the weekend

Oyo indigenes seek enactment of law against land grabbing unfortunate that land grabbing was now rampant in the state, warning that the nefarious activity needed to be checked by government. She added that other states should take a cue from Lagos State where a law against land grabbing was recently enacted. She said, “The state government has worked so hard in entrenching peace in the state. I think they should embrace the Lagos State idea to maintain the peace they fought very had for”. A land speculator, Mr

Sanjo Adekunle, in his views, disclosed that the prevailing cases of land grabbing in the state is giving him a lot of worries. He said the immediate enactment of a law against the act would go a long way to ameliorate the sufferings of hapless citizens that were affected. New Telegraph’s investigation revealed that activities of the Mediation Centre of the State Justice Ministry has helped in preventing loss of human lives which could have arose due to the illegal act.

Lagos harps on use of mediation centres

state. According to him, “the state government, in its commitment to peace had put several mechanisms in place to foster peaceful co-existence in the state.

Sola Adeyemo Ibadan

ome indigenes of Oyo State have called on the state government to enact laws banning land grabbing just like it was recently done in Lagos State to stem the rising tide of land grabbing in the state. The call was made sequel to the series of attacks and distortion of history by some land grabbers in some parts of the state which com-

Muritala Ayinla

agos State Attorney General and Commission for Justice, Mr. Adeniji Kazeem, has charged residents in the state particularly victims of injustice to visit Citizens Mediation Centres across the state for speedy legal assistance. He made the plea at the weekend during a press briefing to commemorate the 2016 United Nations International Day for Peace. Kazeem, who was rep-

plaints had reached the Oyo State Mediation Centre of the Ministry of Justice for resolution. A farmer, Mr Bashiru Akanmu, told New Telegraph that government urgently needed to check cases of land grabbing by enacting a law to check its prevalence. He added that if the issue was not promptly addressed, it could lead to increased loss of lives and properties in the state through violent approaches. An octogenarian, Mrs Alake Gbadamosi, also complained that it was

resented by the SolicitorGeneral and Permanent Secretary, Mrs. Funlola Odunlami, said to ensure justice, the state government has established agencies that will attend to matters relating to land grabbers, special task force, donation of police vehicles for security and introduction of DNA forensic laboratory to archive blood samples of criminals. He described this year’s theme entitled: “Sustainable Development Goals:

Building Blocks for Peace”, as apt, saying everything possible will be done to ensure that no law abiding citizen is treated unfairly. He said the Citizens Mediation Centre (CMC) is an initiative of the state government with a mission to serve as a non-adversarial dispute resolution centre through the use of mediation mechanism in dispensing justice fairly, speedily and without discrimination, fear or favour between disputing residents of the

100

The number of fatalities in terrorists’ violence involving terrorists in 2013. Source: Satp.org

25,100

The total population of the population of men of Faroe Islands in 2012. Source: Un.org

Sulaiman Salawudeen Ado-Ekiti

he Ewi of Ado-Ekiti, Oba Rufus Adeyemo Adejugbe, yesterday banned on all outings by masquerades in the town. The ban was sequel to incidences of molestation and robbery by some of the followers of the masquerades across parts of the town at the weekend. The masquerades that have been coming out since last week, decked in their weird outfits normally moves about parts of the

town, followed by hordes of their votaries who often wield canes, cutlasses and heavy-headed sticks to scare onlookers and bystanders. But the experience of last Saturday, according to findings, turned disgusting as many of the minders of the masquerades seized the occasion to demand gratification in cash or kind from market men and women. However, anyone who refused to yield to their request was attacked and this elicited complaints and lamentation across sections of the town.

CONFIRMATION/change OF NAME

Paul

This is to confirm that Anna Marian Paul is the same person as Anna Paul. Henceforth, I wish to known and addressed as Anna Paul. All former documents remain valid. Banks and the general public take note.

Oladunjoye

I, formerly known and addressed as Oladunjoye Olatunbosun Ganiyu now wish to be known and addressed as Oladunjoye Olatunbosun. All former documents remain valid. The general public should please take note.

Olodi

I, formerly known and addressed as Miss Penninah Oloye Amida now wish to be known and addressed as Mrs. Penninah Wilfred Olodi. All former documents remain valid. Nigeria Christian Pilgrim Commission and the general public should note.

Bakare

This is to notify the general public that Miss Salako Bunmi Temitope now wish to be known as Mrs. Bakare Bunmi Temitope. All former documents remain valid. NYSC and the general public should take note.

Biokpomoye

I, formerly known and addressed as Mr. Iheanyi Emenike and Mr. Anumanie Charles now wish to be known and addressed as Mr. Emenike Charles Biokpomoye. All former documents remain valid. General public should take note.

Goodman

This is to confirm that the names Goodman Numesubo and Tubonimi Numesubo, Tubonimi Gift Numesubo and Tubonimi Goodman Numesubo as variously indicated on my documents refer to one and the same person. Henceforth, I wish to be known and addressed as Goodman Numesubo. All former documenopppts remain valid. General public take note.

PUBLIC NOTICE

INCORPORATED TRUSTEES OF FAVOURED LADIES CLUB OF NIGERIA REDEEMED ROAD, ELIKPOKWU-ODU, RUKPOKWU PORT HARCOURT

NOTICE is hereby given that the above named organization has applied to the Corporate Affairs Commission for registration as an Incorporated Trustee under Part C of the Companies and Allied Matters Act 2004. The Trustees are: 1. Chukwuma Favour 2. Opurum Joy 3. Opara Esther 4. Modestus Rose AIMS AND OBJECTIVES ARE: 1. To promote gender equality among ladies. 2. To instill and promote virtuousness among women. 3. To make women models both at home and in society. 4. To care for widows and take care of their needs. 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

News|South-EAST

MASSOB, BIM urge UN to conduct referendum in Nigeria Steve Uzoechi OWERRI

ro-Biafra groups, Movement for the Actualisation of Sovereign State of Biafra (MASSOB) and Biafra Independence Movement (BIM) yesterday called on the United Nations (UN) to urgently conduct a referendum on the self-determination struggle by nationalities committed to Biafra independence. The leader of MASSOB Owerri Zone, Chief Canice Anujuru and member MASSOB elders’ council, Chief Okechukwu

Nwogu, made the call in a news briefing to mark the 17th anniversary of the formation of MASSOB in Owerri. Anujuru said conducting referendum for the independence of Biafra was long overdue, adding that the suffering currently faced by Nigerians was because the government of Nigeria had refused to support freedom for Biafran people. “UN gave MASSOB observer status since the year 2000 and since then, MASSOB has been prosecuting its campaign for the independence of Biafra in a nonviolent manner,” he said.

He noted that in spite of the non-violent posture of the group, the Nigerian government and its security operatives have killed, arrested and detained several pro-Biafra agitators. Anujuru said the current socio-economic hardship faced by Nigerians was a consequence of the frustration of Biafra independence by the Nigeria government. “The current economic recession being faced by Nigerians has divine connotation because the Nigerian government frustrates the independence of Biafra, that is the reason why the people are experiencing

untold hardship. “Until Biafran people are granted freedom things will continue to go wrong in Nigeria,” he said. Anujuru said the MASSOB anniversary will be marked with rallies in every major town within the Biafran enclave, adding that the celebration would enable members appraise gains and challenges faced by the group. Also speaking, Chief Nwogu, said that the people of Eastern Nigeria are richly blessed with both natural and human resources, adding that it is because of maladministration that people are suffering in Nigeria.

IPOB raises fresh alarm over FG’s plot to kill Kanu Charles Onyekwere and Blessing Njoku

he leadership of ProBiafra group, Indigenous People of Biafra (IPOB) has raised a fresh alarm over what it called the Federal Government’s plot to kill their detained leader, Nnamdi Kanu, in prison custody. The group in a statement signed by its spokesmen, Emma Mmezu and Clifford Iroanya, respec-

tively, accused the federal government of being the brain behind the canister of a poisonous gas thrown into Kuje Prison cell with the intent to suffocate him. The statement reads: “The Indigenous People of Biafra (IPOB) worldwide has condemned the incessant harassment and security threats towards our leader, who has been in detention since October 14 2015 in Kuje prison Abuja, and

the harassment of the members, friends and the relatives who went to visit him in Kuje Prison. They devised the way of arresting anybody who went to visit him in Kuje prison. “The prison authorities and the warders in Kuje prison shot poisonous gas into Nnamdi Kanu’s cell room to suffocate him but we ask who brought the poisonous gas into the prison and who brought the poisonous gas used in the specially

made canisters that was fired at Nnamdi Kanu’s window to suffocate him? “The canisters of poisonous gas with bullet shell have been shown to the British Government that went to visit our leader at Kuje Prison, following the failed assassination attempt. We have in our possession incontrovertible evidence which has now been sent to the United States for exhaustive analysis of the toxic chemical content.” A cross-section of participants at the close of the National Agency for Food and Drugs Administration and Control (Nafdac’s), workshop on AntiCorruption, Gender and Servicom for Nafdac officals in Enugu… yesterday. PHOTO: NAN

Oyeyemi: Speed limit device for all vehicles Igbeaku Orji

UMUAHIA

he Federal Road Safety Commission (FRSC) has said that speed limit device is to be installed in all categories of vehicles beginning with the commercial, ending with private vehicle users. The Corps Marshal of the FRSC, Boboye Oyeyemi, made the clarification yesterday in Umuahia, Abia State during the flag-off of the 2016 ‘ember months’ safety sensitisation campaign for the use of speed limit devices in Nigeria. He said the device

would reduce road crashes by 60%. Oyeyemi, who was represented by an official of the Corps, Mr. Victor Nwokocha, said that the essence of the road speed limit device was to ensure safety and security of road users at all times. He added that excessive speeding on the highways had claimed over 50 per cent of fatalities in the country, and assured that the limiting devices will reduce road fatalities by 60 per cent. The Corps Marshal lamented that Nigeria has not complied with the United Nations Decade of Action,

which seeks to eradicate fatalities on the highways, but assured that the FRSC hopes to reduce road fatalities in its 2011-2020 roadmap by 50 per cent. He said the introduction of the device would commence with commercial vehicle operators while private vehicles would start at the later part of the scheme. According to him, FRSC is collaborating with the National Union of Road Transport Workers (NURTW), National Association of Road Transport Owners (NARTO), major vehicle companies, and other stakeholders to ensure the success of the scheme.

£1.08m

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

monDAY, September 12, 2016 NEW TELEGRAPH

MASSOB celebrates 17th anniversary, decries marginalisation of South-East Igbeaku Orji UMUAHIA

he Movement for the Actualisation of the Sovereign State of Biafra (MASSOB) yesterday lamented that the circumstances that gave rise to the civil war, including marginalisation, unprovoked massacre, inequality and injustice, are still besetting the Nigerian polity. Speaking with newsmen in Umuahia, the Abia State capital, on preparations to celebrate the 17th anniversary of the movement, the MASSOB-BIM Zonal Information Director, Anselm Ogbonna, said the group would continue with its non-violent posture until the project was actualised. According to Ogbonna, “30th May 1967 (Biafra declaration date) and 13th September 1999 (Biafra resuscitation date through nonviolence, non-exodus struggle) are the two major dates which are very vital

in the history of Biafra, after the declaration of no victor no vanquish by General Yakubu Gowon on 1st January, 1970, Biafra and Nigeria began existing as a nation under one Nigeria, still that problem of marginalisation, un-provoked massacre, inequality, injustice etc. are still strong against Ndigbo in Nigeria.” On the preparations of the event which comes up on the 13th of September 2016, Ogbonna said MASSOB wishes to celebrate the 17 years anniversary of its existence through non-violence. “MASSOB want to use the anniversary to tell the world that we are the Biafra drum beaters, we are the beams that produces the light for others to follow. We are not MASSOB on the Internet or on the pages of newspapers. Other splinter groups emanated from us, because before September 13th 1999, no other person or group from the South-East, SouthSouth was talking about Biafra.

Ebonyi threatens to close dirty, substandard schools, sack principals Uchenna Inya ABAKALIKI

overnor of Ebonyi State, Chief Dave Umahi, has decried the dirty environment of some schools in the state. Addressing principals of boarding schools in the state at Government House Abakaliki at the weekend, Umahi, who expressed dismay over the growing dirty environment of schools in the state said he will not hesitate to sack any principal whose school is bushy and unkempt. “I will break the law to ensure that our schools are kept clean. If your school is bushy, you will lose your job and that is a promise. “In my primary school, I was afraid when I was moving around there about a week ago. I was afraid of being bitten by

128,956

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

snakes because of the bushy environment and it is unacceptable. “We have made ourselves to be terribly lazy in this country. Why should we buy tomatoes for our students, why should we buy vegetables, why should we buy pepper for them and other minor things they can cultivate in their schools? We are being very dishonest to ourselves, we have made ourselves to be terribly lazy; and this must stop, we must get all these things in the schools, we must start now to plan for the future of our children. You must cue into the agricultural programme of the state government, it is a must,” he said. He also said that he will no longer allow principals of Junior Secondary Schools and principals of Senior Secondary Schools, saying, “the Senior Secondary School principals will now be principal in any secondary school in the state.”

We’ll maintain Enugu’s status as home for Igbo – Commissioner Kenneth Ofoma ENUGU

nugu State government has promised to do all in its powers to maintain the status of the state as the old and new political and economic capital of the South-East geo-political zone of the country. The government noted that that first Enugu Investment Summit organised by the state some

months ago has opened vistas of investment inflow into the state, especially in real sector and tourism development. Speaking at the weekend while inaugurating a multi-million naira ultramodern hotel, ‘Big and Tall Hotel”, in Enugu, the state Commissioner for Tourism, Mr. Smart Ogbe, said Enugu remains the most secured state in the zone even as the state was making more investments

in infrastructural development to accommodate more investments. Ogbe described hotels as the first port of call in any city by investors and visitors, stressing that the new hotel would boost the hospitality and tourism potential of the state. “I call on other investors to invest in tourism industry in the state. We have a lot of tourist sites and there is adequate security.”

south-south

monday, september 12, 2016 NEW TELEGRAPH

Army destroys 52 illegal refineries in Rivers

Emmanuel Onani Abuja

he Nigerian Army at the weekend announced the destruction of 52 two illegal refineries in Rivers State. This was disclosed in a statement by the Acting Director, Army Public Relations (DAPR), Col. Sani Usman. According to Usman, troops of 2 Brigade carried out the destruction in Krakrama, Bille and Better ‘land community general area,’ in the course of their training exercise codenamed, Operation Crocodile Smile. The troops also cleared a suspected kidnappers' camp even as they res-

cued a kidnap victim in the process. This came few days after a similar exercise culminated in the destruction of 74 of such refineries in the state and Bayelsa State. The statement reads in part; "As part of Exercise Crocodile Smile, troops of 2 Brigade, Nigerian Army, in an anti-cultism operation yesterday, cleared a notorious kidnappers’ camp at Obiozumini near Obite in Ogbema/Ndoni/ Egbema Local Government Area of Rivers State. "The troops, who were earlier ambushed, engaged and subdued the kidnappers. One kidnap victim was rescued from the camp. The ongoing operation would be sustained until criminality

is subdued. "Similarly, the troops during raids, cordon and search operations as part of the training exercise, also discovered and destroyed 52 illegal refineries and refinery cooking pots in Krakrama, Bille and Better Land community general area." It added: "The troops discovered six refining cooking pots at Better Land community which unfortunately could not be destroyed instantly because of its proximity to the community. "They also recovered two high powered engine boats, 10 empty drums and one pumping machine. Plans for destroying the illegal refinery with Swamp Buggy are in progress," Usman said.

Ogun State Governor, Ibikunle Amosun (right), with Vice President Yemi Osinbajo, during a courtesy visit to the governor in Oke Igbein, Abeokuta... yesterday

ASABA

elta State Governor, Senator Ifeanyi Okowa, yesterday lambasted his Edo State counterpart, Adams Oshiomhole, over his over-bearing disposition on the postponed governorship election in the Heartbeat state. Okowa noted with great concern the recent outburst of Oshiomole, accusing him of deploying militants from his state to cause mayhem during the exercise in Edo State.

Yenagoa

n a bid to back the agricultural policy of the Federal Government, Minister of State for Agriculture, Heineken Lokpobiri, at the weekend, visited some individual farms in Bayelsa State. The visibly happy minister, however, said farming was gradually taking the place of oil in Nigeria, adding that oil puts

Osinbajo: Recession caused by pipeline vandals

Kunle Olayeni Abeokuta

ice-President Yemi Osinbajo, yesterday, attributed the current economic recession in the country to the activities of pipeline vandals in the Niger-Delta region, who, he said, caused almost 60 per cent revenue loss. Osinbajo, who spoke with reporters in Abeokuta, Ogun State, however, said the Federal Government was already taking serious measures to address the problem. The vice president also held a closed-door meeting with Governor Ibikunle Amosun at the Government House, Abeokuta. According to him, Nigeria is going through challenging times as a result of huge revenue loss. He noted that the administration of President Muhammadu Buhari was working hard towards ensuring the nation earns

Biodun Oyeleye Ilorin

S The governor said since the election has been shifted, the mother hen and her children, who had been peddling rumour of disruption, can now rejoice. A signed statement from his Commissioner for Information, Patrick Ukah, in Asaba, yesterday, described Oshiomole's allegation as baseless, unfounded, spurious and tendentious. "The latest outburst from Governor Oshiomhole is consistent with his favourite pastime of heating up the polity with unguarded utterances and

wild allegations. "We vehemently reject this accusation as alarmist in conception, reckless in delivery, puerile in content and false in facts and, so, fit only for kindergarten's 'tales by moonlight", the statement read. While the Governor said he remains a peace loving Nigerian, who has never and would not engage in any activity inimical to law and order, he reminded Oshiomhole that "the exalted office of the Governor is one that demands decorum and maturity."

Lokpobiri lauds Bayelsa farmers, urges them to do more Pauline Onyibe

more revenue. He said: "One of the key reasons why we are in recession is the fact that we lost about 60 per cent of our revenue due to the vandalization of the pipelines in the Niger-Delta and we lost almost 40 per cent of the gas. "But I have strong belief that by the grace of God, we will be able to resolve that. Once we are able to resolve that, we would, at least, be able to earn more revenue. If revenue grows up, it is an added advantage." Osinbajo stressed that part of government's measures to reflate the economy was to diversify into agriculture and solid minerals. The vice president noted that there were numerous opportunities in manufacturing and technology, adding that government was interested in using the sectors to address youth unemployment. He stated that the Federal Government would

begin the recruitment of 500,000 volunteer corps as well as the micro credit facilities to a minimum of one million market women and artisans before the end of the month. "These are challenging times. It is very obvious and we know the reasons. It is high level of corruption and we have dealt with that. We are controlling government expenditure. Once you can control corruption, we are out of it," he added. Osinbajo maintained that the Buhari-led administration remain focused and determined to ensure the country is put on right track. He further said: "I feel strongly that this country is one that God has a hand in its affairs. In fact, reason why President Buhari is in office is because God has a plan and hand in this nation, that this nation will be governed properly, that stealing of resources will stop, that we focused on issue of development.

Saraki: My travails will soon be over

Okowa to Oshiomhole: You're an alarmist Dominic Adewole

national | news

money in government coffers while agriculture adds money to the pocket of the individual farmer. Lokpobiri said the Niger Delta would no longer be attributed with militancy and violence only, but with agriculture and food production. He said the current administration wants to show people how to make money, adding that his team came with relevant stakeholders in the agricultural sector that will

make funds, facilities and insurance available to the farmers. He said: “Agriculture is the way forward in the country now and Bayelsa State cannot be left behind. We can take our people off militancy through agriculture." Advising the teeming youths who came to welcome him, he said: "If you blow the pipeline, you are damaging the water resources. We are the people suffering for our own decision.”

enate President, Dr. Bukola Saraki yesterday described his current legal travails as ‘mere distractions’ that would soon fizzle out just as he pointed out that the ruling All Progressives Congress (APC) led government has no excuse not to fix the Nigeria’s ailing economy. Saraki, who addressed a cross section of his constituents at a Town Hall meeting tagged #ASK SARAKI, in Ilorin, Kwara State, expressed confidence that the ‘distractions’ however were already giving way, adding that the National Assembly would make the economy its focus of activities upon resumption from the current annual break. He also warned that members of the National Economy team must buckle up and be ready to proffer solutions to the challenges confronting the economy, adding that any of them not willing to offer personal sacrifices would have scores to settle with the senate. He, however, admonished Nigerians to exercise restraints with the ongoing efforts to find solution to the problems as he assured that the senate under his leadership would not rest until the solution was found, declaring that "It is a challenge to fix the problems and improve the nation's

economy". The Senate President, who assured his followers that no responsible leader would abandon his followers in time of distress for them to wallow in suffering as being experienced with the current economic recession in the country said there is no need pointing accusing fingers at anyone for the plight of the nation instead of facing the challenges of finding solution to them. His words: “All the travails one is going through for those people who believe in God knows that all these are politics. All those are distractions not to allow us focus on issues. They always say that the truth will always prevail. We are beginning to see it is already prevail-

ing. The distractions are finding their ways. “I want to assure you that since my eight years as governor of the state, the legacy that we left is there for people to see. There is nobody after I have left office that can say either there is any uncompleted project or any contractor anywhere in Kwara State that can stand up and say I demanded for any gratification from him. “I want to say that my business in government is to improve the lives of the people. If it is for myself and family, I don’t have to be in government. We have no excuse not to fix Nigeria economy but we need to be more patient on our agitation. It is important and of necessity to bring about solution.”

Pay your N86bn power debt, Egbin begs FG Adeola Yusuf

gbin Power Plc at the weekend begged the Federal Government to pay its N86 billion debt, declaring that the company's efficiency is highly constrained by the debt. Chief Executive Officer of the company, Mr Dallas Peavey, who said this, according to a statement, during the company’s scholarship award programme to schools within Ijede community in Lagos

State, maintained that the debts was on energy produced to the national grid in the last six months. Aside from the government's debt, Peavey also said gas supply had been another major challenge to power generation . “We have a total generation output of 1,320MW but currently we are generating just 425MW which is 30 per cent of what we should be generating,’’ Peavey said.

42 News|north Police deploy 5,000 in Nasarawa to maintain peace Cheke Emmanuel LAFIA

he Nasarawa State police command yesterday said it has deployed 5,000 police personnel to prevent any breach of peace before, during and after the Sallah period. The police said the personnel would be deployed to strategic places in various parts of the state to ensure a hitch-free Sallah celebration in the state. Commissioner of Police in the state, Alhaji Abubakar Sadiq Bello, said this at the weekend while briefing newsmen in Lafia, the state capital. He said the command has arrested 38 suspected criminals in different locations in the state for various offences ranging from armed robbery, kidnapping, car snatching and theft. Bello said various items were recovered from the suspects, including seven cars, two AK47 rifles and one locallymade pistol and one motorcycle. He said the suspects would be charge to court. The police boss said his men would commence demonstration of force two days to the Sallah celebration to test the combat readiness of the men for the festive period. He assured the people that the police would work day and night to maintain law and order during and after the Sallah celebration and called

Ex-Benue finance chief sues police over illegal detention

Cephas Iorhemen MAKURDI

ormer Benue State Commissioner for Finance during the administration of Gabriel Suswam in the state, Mr. Omadachi Oklobia and 10 others have dragged the Nigeria Police to court claiming N500 million for alleged illegal detention. The ex-governor’s aides are also in court with a motion on notice, praying the court for an interlocutory injunction restraining the police and other delegated authorities under same force from further “harassment, invitation, arrest, detention and obtaining statements from them.” New Telegraph recalls

Damaturu

inister of Women Affair and Social D eve l o p m e n t , Senator Aisha Jummai Alhassan, at the weekend, said Yobe State was one of the eight pilot states to benefit from the N1.6 billion micro-finance scheme of the National Women Empowerment (NAWEP). Alhassan, who disclosed this when she paid a courtesy call on Governor Ibrahim Gaidam at Government House, Damaturu, during her advocacy and sensitisation visit to Yobe

Zacchaeus Ozovehe Lokoja

he Association of Local Governments of Nigeria (ALGON), Kogi State chapter, has called on security agents in the state to warn the James Faleke group and its paymasters

Kpojime probe panel, which the police special investigation panel set up by the Inspector General of Police based its findings upon to arrest, detained and extracted statements from them, was still been challenged by them at a court of competent jurisdiction in

Makurdi, the Benue State capital. One of the lawyers on the team, who spoke with New Telegraph but who did not want his identity disclosed, said another ground they were contending was whether the IG under the Public Act cap p 19 LFN 2004, Section

315 of the police regulation cap p19 LFN 2004 and the Nigerian Constitution 1999 as amended, section 216 (1) has such powers to without the written consent of the President of the Federal Republic of Nigeria as stipulated Section 11 of the Police cap P 19 LFN 2004 ‘lawfully delegate’ his duties to a civilian to act on his behalf as well as the powers to re-investigate reports of a properly constituted judicial commission of inquiry reports that indict certain persons which government also issued a white paper.

Evaluate your priorities, Suswam tells Ortom Cephas Iorhemen MAKURDI

ormer Governor of Benue State, Dr. Gabriel Suswam, yesterday advised his successor, Governor Samuel Ortom, to devote much of his time to evaluate the priorities of his administration

and align them with the expectations of the people for maximum impact. Besides, he also dispelled the rumour being peddled in some quarters that he had ran away from being arrested by the police, who launched a manhunt for him last week alongside other 13 persons, over their al-

Senate President, Dr. Bukola Saraki (middle), during a Town Hall Meeting with his Kwara Central Senatorial District constituents in Ilorin…yesterday.

leged involvement in the looting of the state to the tune of over N107 billion as contained in the Justice Elizabeth Kpojime probe report. The former governor, who disclosed this through a message he personally posted on his Facebook wall, averred that it was unfortunate that the Ortom administration was spending its time and resources to prosecute him and those who served under his administration rather than placing emphasis on addressing the immediate contemporary issues and priorities to transform and better the lives of the people of the state.

23,200

The total population of the population of women of Faroe Islands in 2012. Source:Un.org

$21.5m

The total pay (including salary/ winnings & endorsements) of Adrian Gonzalez (Baseball) for 2015. Source: Forbes.com

Minister: Yobe to benefit from N1.6bn micro-finance scheme

Hassan jirgi

that the police recently arrested 10 former aides of the former governor, including Oklobia, Special Adviser on Local Government and Chieftaincy Affairs, Mr. Solomon Wombo and the Accountant in the bureau, Mr. Isaiah Ipevnor, detaining them for hours and later moved them to the force headquarters, Abuja, for further interrogation over allegations of corruption leveled against them by the Samuel Ortom administration in the state. In the suit number; FHC/ABJ/05/704/201 filed on Sept 9, 2016, the aides, through their counsel led by Innocent Daa’gba, A. J. Mbatsavdue, the aggrieved persons were contending among other issues, that the report of the Justice

monDAY, September 12, 2016 NEW TELEGRAPH

State. The minister said she would interact with the women group and visit the only remaining IDPs camp in Damaturu to assess the condition of women and girls in the camp. According to her, each of the eight states will get N200 million from the fund interest free and it was meant to support and empower the women. In his response, Governor Gaidam described Senator Alhassan as an advocate of social justice, saying her effort in improving the life of women was commendable.

He said the current administration in the state also regards the empowerment of women as a top priority and a ‘demonstration of our commitment to empower the women folk to the tune of N178 million’ that was disbursed through the Ministry of Women Affairs to 17,500 women in the 178 wards of the 17 local government areas of the state. According to him, many women had been trained at the Women Development Centre, Damaturu and this has enabled them to acquire the necessary skills that made them to specialise in various trades such as knitting, tailoring and soap and pomade making, among others.

Kogi probes diversion of N230m pension fund Zacchaeus Ozovehe Lokoja

ogi State government yesterday said it was investigating five top officers of the state’s pension board for allegedly diverting N230 million pension funds to their private pockets. The Auditor-General for Local Government in the state, Alhaji Ahmed Ododo, disclosed this while speaking on a Radio Kogi Guest Forum programme in Lokoja, at the weekend. Ododo, who is a member of the on-going Staff Verification Exercise in

the state, said the fraud was discovered in the course of the committee’s assignment. He said the five officers facing investigation over the fraud issue would be made to cough out the money if found guilty of the allegation at the end of the probe. He said they would also be made to face the wrath of the law so as to serve as a deterrent to others. The Auditor-General commended the state government in its effort to wipe out ghost workers and ensure a cleaner pensioners’ pay roll. Ododo said the on-going exercise was equally meant

to block leakages in the system, while he assured that all genuine workers and pensioners on government pay roll would be cleared for immediate payment of their salaries and pension. “The screening of workers and pensioners is going to be a continuous exercise. No authentic staff or pensioner would have any cause to fear. Governor Yahaya Bello has the highest regard for both workers and pensioners. The on-going verification of the state’s workforce is not aimed at victimising anybody, but an effort targeted at saving money for the state to take adequate care of its responsibilities,” the

“The governor has recorded a giant stride in curbing the security challenges in the state, where kidnapping, armed robbery and other criminal activities were the order of the day before he took over as governor” the ALGON

boss added. While calling on the citizens of the state to be cautious of the antics of few individuals who did not wish the state well, he said Alhaji Yahaya Bello contested the governorship primaries and came second, which he said was in line with the laid down rules and regulations.

Faleke group asked to shun provocative utterances

against unwarranted utterances capable of breaching the peace of the state. The association also urged the Faleke/Mohammed Audu’s group to desist from criticising Governor Yahaya Bello and blamed its failure on James Faleke,

who was never part of the All Progressives Congress (APC) governorship electoral processes. Chairman of ALGON in the state, Alhaji Taufiq Isa, who made the call in Lokoja while addressing newsmen on the unruly behaviour of

few people in the state, said it was high time security agencies in the state called Duro Meseko and his cohorts to order, to desist from giving false information on the judgement that has not been determined at the apex court.

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Sport News

Did you know?

Sport

That the 19-year-old Kelechi Iheanacho is Manchester City's youngest scorer in the Premier League era of the Manchester derby.

Simon, Ighalo, Otigba hit targets in Europe

International Costa earns Chelsea draw at Swansea

44 45

Iheanacho strong to handle pressure –Agu Eagles' coach praises youngster’s show in Manchester derby

Ajibade Olusesan

uper Eagles assistant coach Alloy Agu has said that Manchester City prodigy Kelechi Iheanacho does not only possess incredible talent but the 19-year-old is mentally strong enough to handle pressure that may accompany his growing

Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Agu

reputation. The youngster, again on Saturday, confirmed he is the man for the big occasion when he scored a goal and provided an assist for his club Manchester City in their 2-1 victory against bitter rivals Manchester United in an English Premier League tie. His show has attracted widespread commendation with some pundits suggesting not to put too much pressure on his slender shoulder. But for a man that sees him at close range in the national team, Agu believes Iheanacho

Iheanacho (middle)

can deliver on a consistent basis for both club and country despite any pressure. “I don’t think there is pressure on Iheanacho, he is good and doing what is expected of him for his club and country. I think he will continue to deliver for Man City and does same in the national team, he is one of the key players expected to deliver the World Cup 2018 ticket and his club also wants him to help them win something too. “I know him; the young man is good enough to handle the

pressure. Scoring a goal and one assist in a big match like Manchester derby shows that he is a man for the big occasion, he is delivering,” he said. Agu was effusive in his praise of the young striker for his performance in the Manchester derby, saying it was good for build up to the World Cup qualifier against Zambia in Lusaka next month. He said: “That was a great performance, it was a soullifting and promising show not only for Nigeria but Af-

rica as whole to have a young striker scoring a goal and gave one assist in a big match like that, especially considering that we have World Cup qualifiers coming up. It is a great thing to the coaching crew and the country at large. “I am not surprised over what he is doing because God has deposited great talent in that boy. He is very deadly in the six-yard box, his moves are key, his shooting very precise and also gives assist, any coach that has seen this talent will wants to have him around.”

Paralympics: Nigeria cruises on with two gold, two silver Emmanuel Tobi

eam Nigeria athletes to the on-going Rio 2016 Paralympics continued their superlative performance at the weekend with power lifter, Paul Kehinde, winning a second gold medal for the country to bring the medal haul to four.

Kehinde

Kehinde lifted 218kg to beat his rivals to the gold medal in the -65kg men’s cate gory on Saturday night. China’s Peng Hu (200kg) finished second, while Egypt’s Shaaban Ibrahim (193kg) won the bronze medal. Roland Ezuruike had earlier won Nigeria’s first gold in the men’s -54kg category

setting three Paralympics records on his way to winning the Gold. Earlier on Friday, female power lifter, Latifat Tijani, won silver competing in the 45kg category coming second behind China’s Dandan Hu after lifting 106kg while Esther Onyema added a second silver medal on Saturday in the 55kg category.

US Open: Kerber relishes trophy, world No. 1 title }45

SPORT NEWS

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

NCCTennisLeague:TeamTombimtakelead Ajibade Olusesan

eam Tombim, defending champions of the NCC Tennis League, underlined their intention to retain their crown with an emphatic 4-0 lead over Kaduna-based Team Offikwu at the end of first day proceedings at the Abuja National Stadium Tennis Centre on Saturday. Shortly after the Minister of Youth and Sports, Barrister Solomon Dalung served-off the 2016 edition, Christian Paul, the highest ATP ranked player in Nigeria, defeated Sylvester Emmanuel, Nigeria's No.2, 6-4, 6-2. National champion, Moses Michael, followed with a straight sets, 6-3, 7-5 win against Emmanuel Idoko.

Ighalo (Left)

Simon, Ighalo, Otigba hit targets in Europe

Emmanuel Tobi

t was a great weekend for Nigerian strikers across Europe as the quartet of Moses Simon, Odion Ighalo, Kenneth Otigba and Godwin Saviour hit targets for their respective clubs. Simon scored his second goal of the season in the 70th minute to help his Belgian side Gent overcome Lokeren 3-0 in a league game while Ighalo gave the Watford hope when he pulled a goal back in the 41st minute before notching an assist in the 63rd minute in their 4-2 away win against West Ham in the English Premier League. Ighalo was replaced by former Flying Eagles star Isaac Success in the 69th minute. Also, Kenneth Otigba who is under the radar of Super Eagles coach, Gernot

Eagles list for Zambia game out next week Ikenna Amadi

Rohr, scored Kasimpasa’s only goal in their 3-1 defeat by Istanbul Basaksehir on Saturday while former Flying Eagles winger, Godwin Saviour, opened scoring for Belgian club KSV Roeselare as they recorded a 2-1 away win at Lommel United on Sunday. Still in Turkey, Kenneth Omeruo made his debut for Alanyaspor as they held hosts Genclerbirligi to a goalless draw, while Emem Eduok was an 83rd minute substitute for Kasimpasa in their 2-1 away loss at Basaksehir. In England, Nigeria international Alex Iwobi returned from injury as he came from the bench in the 75th minute when Arsenal beat Southampton 2-1 at the Emirates. Similarly, Super Eagles assistant skipper Ahmed Musa starts on the bench for champions Leicester City as they suffered a 4-1 loss to Liverpool.

Ambode to intensify sports development Ifeanyi Anyaka

agosians have been assured of accelerate sports development in the next three years in line with Governor Akinwunmi Ambode's vision and campaign

Ambode

promises as captured in his road map for the development of the sector. The assurance was given at the weekend by the newlyappointed Director General of the Lagos State Sports Commission, Gbolahan Ogunsanya, during a courtesy visit to him by the executive of the Sports Writers Association of Nigeria, Lagos State chapter. "The Governor is very much aware of the importance of sports in society and is very serious about sports development. He has a clear vision with documented road map to direct the process. The plan is a product of a detailed study of the state sports environment. As part of the plan,

the government would, by next year construct standard stadiums in five districts of the state including the Maracana Stadium in Ajegunle and others at Igbogbo, Epe and Badagry. "The plan also includes providing parks and recreational facilities in various neighbourhoods to revive grassroots, community and schools sports. This includes the construction of mini -sports centres, indoor gyms or sports triangles, where space permits, in about 300 secondary schools across the state as legacy projects. This is expected to energise schools and after-schools sports as well as serve the communities," he said

igeria coach Gernot Rohr is expected to submit his squad list for the 2018 World Cup qualifier in Zambia billed for October 9 next week. “The Eagles squad list for the match in Zambia will be announced by the third week of this month,” an official informed. Rohr has already hinted that the call-ups for this game will mainly be those who were involved in the recent AFCON 2017 qualifier against Tanzania in Uyo, which was used as a warmup for the Zambia match. The Franco-German coach has also said Arsenal forward Alex Iwobi and Portugal-based Oghenekaro Etebo will be invited after they have recovered from injuries. Rohr has said he will meet up with Lille goalkeeper Vincent Enyeama to rescind his decision to quit international football. However, Chidozie Awaziem and Imoh Ezekiel, who did not make the match-day squad for the Tanzania game are not likely to be invited.

ABUJA

eam Nigeria is on course to qualify from the Africa’s second division of the 2016 ICC U-19 Cricket World Cup qualifier in Johannesburg, South Africa. The Nigerian U-19 team, according to the NCF President, Mr. Emeka Onyeama, defeated Zambia on Sunday to record a first victory at the Africa’s second division of the 2016 ICC U-19 Cricket World Cup qualifier in Johannesburg, South Africa.

The Zambians batted first scoring 150 runs all out at 39.4 overs, while the Nigerians won the game with the loss of only three wickets in 35 overs. The boys were however rampant in their second game against Rwanda scoring 278 runs with loss of three wickets in 50 overs while their opponents could only manage 33 runs in 13 overs. An elated NCF President said the victory was a result of the painstaking efforts being made by his board to bring the game to the top in the country. He congratulated the boys to keep up

Awaziem, a midfielder who has been converted to central defence, has been demoted to the FC Porto second team this season after the Portuguese club did not register him for the UEFA Champions League.

Rohr

Lagos hosts Turkish Airlines World Golf Cup he Ikoyi Golf Club in Lagos third place, best gross and T will on Thursday September nearest-the-pin prizes for men 15 host the 2016 Turkish Airlines and women. World Golf Cup, an amateur tournament billed to feature 100 players. The tournament which is the 84th of 100 qualifiers will have its winner progress to the grand final in Antalya, Turkey, this October, while there will be rewards for the runner-up,

Cricket World Cup qualifier: Nigeria beats Zambia, Rwanda Adeolu Johnson

In the ladies singles, the expected confrontation between No.3 ranked Anu Aiyegbusi and Sarah Adegoke did not take place as Aiyegbusi was indisposed. Her replacement, Amina Quadri, put up a good fight but succumbed to a 4-6, 6-2, 6-2 defeat. Albert Bicom, the national doubles champion pairing USbased Sunday Emmanuel was expected to salvage a point with the men's doubles but Team Offikwu also let that slip through their fingers as Team Tombim's pair of Michael and Paul came from behind to snatch a 4-6, 7-6, 10-8 victory. The seven match tie will be concluded Sunday with the reverse men's singles and the mixed doubles starting at 10 am.

the fight until they qualify for the first division. In the first tie, Zambia went on to bat and scored a total of 150 runs all out in 37 overs with M.A Ali scoring a total of 61 runs for the Zambians. The Nigerian Bowlers responded with some brilliant spells from Captain Okpe Sylvester with three wickets and Isaac Danladi also with three wickets. However, the star performer in the bowling effort for Nigeria was Chima Akachukwu with five wickets.

“We are proud to be hosting the latest 2016 Turkish Airlines World Golf Cup qualifier in Lagos,” Tarkan Ince, General Manager for Turkish Airlines Lagos, said. “We are excited to be welcoming everyone to the world class facilities at Ikoyi Golf Club. We are sure the players will have a day to remember and wish them all the very best of luck.” Winners of the Grand Final progress to play in the 2016 Turkish Airlines Open pro-am, while all finalists are to enjoy an eightnight stay in an all-inclusive hotel, two rounds of golf and VIP passes to the Turkish Airlines Open, the $7,000,000 European Tour event, from Thursday to Sunday. The event is backed by Global Sponsor the Financial Times, with Conte of Florence Official Clothing and Fashion Partner.

EPL TABLE Team P 1 Man City 4 2 Chelsea 4 3 Man Utd 4 4 Tottenham 4 5 Liverpool 4 6 Arsenal 4 7 Hull City 4 8 Everton 3 9 M'brough 4 10 Watford 4 11 Cry'Palace 4 12 West Brom 4 13 Swansea 4 14 B'mouth 4 14 Burnley 4 16 Leicester 4 17 West Ham 4 18 S'thampton 4 19 Sunderland 3 20 Stoke City 4

PT 12 10 9 8 7 7 7 7 5 4 4 4 4 4 4 4 3 2 1 1

RESULTS EPL Swansea

2-2

Chelsea

Man Utd

1-2

Man City

B'mouth

1-0

West Brom

Arsenal

2-1

S'thampton

Burnley

1-1

Hull City

M'brough

1-2

C'Palace

Stoke

0-4

Tottenham

West Ham

2-4

Watford

Liverpool

4-1

Leicester

Spain - LaLiga Gijon

2-1

Leganes

Valencia

2-3

Real Betis

Celta Vigo

0-4

At' Madrid

Real Madrid

5-2

Osasuna

Malaga

0-2

Villarreal

Sevilla

2-1

Las Palmas

1-2

Alaves

Barcelona

Pat Ekeji’s Corner patrick.ekeji@yahoo.com 08159364282 (sms only)

The 'tomorrow' of sports in our country

“G Costa earns Chelsea Costa (right) celebrating after scoring his side's equaliser

draw at Swansea

ie go Costa scored his second goal of the game from an overhead kick to earn Chelsea a 2-2 draw at Swansea on Sunday, which ended the visitors' winning start to the English Premier League season. Costa's acrobatics in the 81st minute salvaged a point for Chelsea at Liberty Stadium after two defensive blunders in a three-minute span almost gifted Swansea a victory. Gylfi Sigurdsson converted a 59th-minute penalty after being tripped by Chelsea goalkeeper Thibaut Courtois, before

Leroy Fer dispossessed Gary Cahill and poked a shot through the legs of Courtois. Costa curled home the opening goal in the 18th minute, and is looking back to his best this season with four goals in four games. It leaves Manchester City as the only team with a 100 per cent record after four games but Chelsea's players will wonder how they also haven't got 12 points. "Huge disappointment because we had control most of the game," Chelsea defender Cesar Azpilicueta said. "Their two goals came from our mistakes."

SERIE A Bologna

2-1

Cagliari

AC Milan

0-1

Udinese

Atalanta

2-1

Torino

Verona

1-1

Lazio

Roma

3-2

Sampdoria

Juventus

3-1

Sassuolo

Palermo

0-3

Napoli

BUNDESLIGA W' Bremen

1-2

Augsburg

Leverkusen

3-1

Hamburger

Darmstadt

1-0

Frankfurt

Freiburg

3-1

M'gladbach

Ingolstadt

0-2

Berlin

Wolfsburg

0-0

Cologne

1-0

Dortmund

RBLeipzig

INTERNATIONAL SPORT

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Ligue 1 Nantes

0-3

Metz

Rennes

2-0

Caen

Lyon

1-3

Bordeaux

Angers

3-1

Dijon

Guingamp

1-1

Montpellier

Lille

1-4

Monaco

Lorient

0-2

Nancy

Kerber

US Open: Kerber relishes trophy, world No. 1 title

ngelique Kerber climaxed a dream season at the US Open early Sunday morning, performing as the champion she has become through hard work, patience and a love of the game. Kerber wiped tears of joy before accepting a winner’s check for US$3.5 million and a gleaming silver trophy after rallying to beat Karolina Pliskova in a display worthy of the new world No. 1 player in women’s tennis. The 28-year-old German finished last year ranked 10th in

the world and turned dreams into a reality this year after rededicating herself. “I was really trying to improve a lot of things,” she explained following her 6-3, 4-6, 6-4 triumph after falling a break down in the third set. “First of all, my fitness and then to being more aggressive and go for it when I have the chance. Not just hitting the balls over the net. “And also, mentally, to being more positive, a little bit more stronger, and just focusing on the moment I am on court.”

entlemen, the best of Nigeria is behind us” seem to have become a constant concluding statement reached by members of the “old school” like myself each time the country is discussed in our Owerri Club. Thoughtprovoking conclusion and it gets even livelier when sports take the center stage. For enlightened fellow Nigerians of my generation and older, there is no doubt in my mind that the concurrence would be in unison, but for our younger generation of children, say three decades back, they certainly cannot imagine that some time in our country we did not have to worry about, power, water, security, food, graduate employment etc. Growing up at Obalende Police barracks in Lagos, kids of my age just believed that these services were natural because they never were lacking, they were just there, in fact, they probably came from God. Today, the total general trend in the country has always thrown me into the reflective mood over how it all impacts on sports development. While governments, Federal and States border themselves with growing the productive sector, which economists refer to as the real sector. Sports development certainly does not belong here, if anything, it is perceived, even by the most ardent sympathizer of the sports sector but finds himself or herself an active member of government, as “wasteful” so why commit resources to it? The situation is even worse now that the sector must compete for a share of the now very scares funds on offer and I do know that those who have the responsibility of allocating funds in the public sector do not, in the course of their duty, consider all of the sports programs which those of us engaged therein would swear to high heaven as important, developmental, or prestigious. My dear readers, annually allocated funds by government are not based on sectorial prestige. So what to do? When the going gets tough, they say, the tough get going. The situation today throws up a real challenge to the managers of sports of the moment. They must find ways and means to compete for appropriate attention and consideration for financial support from the source wherefrom the money flows down. That is just it. This was the reason for instance why I had to strive during my time, to get sports admitted as a “cross-cutting” issue in the lead up to the conclusions of the vision 20-20-20 document. That recognition and acceptance, which by the way was not acquired because the planners of our economy “love” sports, would come in as a strong reference when further arguments

were made for better funding considerations. I, leading the team from the NSC at that time,had to convince the economic planners on why sports is critical to the success of the economy and that it can significantly contribute to its growth and our argument was in line with the general direction which, I believed, the administration was heading. That momentum has fizzled out now and therefore a new strategy need be evolved. I have read about “declaring an emergency in sports”, yes the Hon Minister needs to let government know exactly what he means by that. I offer some suggestions. Government should immediately enact some stimulus policies that are capable of attracting the organized private sector to immediately focus attention on the possibilities of investing money in sports development: the Ministry on its part should consider the possibility, and I do strongly recommend this, of reviewing down wards the type and number of sports to benefit from the elite athlete program funds derivable from the financing outflows from these policies. Many States Sports Councils are today shadows of themselves and these are the incubators for our star athletes of tomorrow, therefore there is need to also put in proper perspective how Federal Government would interface with State Governments that henceforth give fillip to sports development. State of emergency without the requisite structure for sustainable funding amounts, at best, to just talking for the interest of publication in the sports media. Since the end of the Rio Games, various International sports championships have been held at various countries, our athletes did not attend. Truth is, the preparation for Tokyo 2020 has already begun in earnest but we are probably still thinking about what to do out of Rio performance. We cannot expect miracles from our athletes at an Olympic Game with preparations beginning in the year of the Games. Athletes and coaches involved in developmental programs improve with exposure to high level competitions. Our Sports Federations hardly dispatch athletes to take part in such high level competitions because the funds are simply not there for them to do so. Talented athletes not having been sufficiently exposed to high level competitions get easily overwhelmed at an Olympic level. That is largely the fate of our representatives. At the risk of being repetitive, Hon Minister Dalung, pursue enactment of policies that would provide sustainable funding for elite sports and the return of NSC, with these you would add value to the efforts of this government.

SPORTS INTERVIEW

We’ll spill our blood for league title –Rotimi

during the day in school, I would be back home playing on the streets in the afternoon. Although my mother was not against what I was doing, she had no say in it and my dad was always on my neck to face my studies, but I never listened. When he realised that I had made up my mind, he decided to let me be after my secondary school days.

Sunday Rotimi, a veteran of the Nigerian Professional Football League, in this interview with New Telegraph’s CHARLES OGUNDIYA in Port Harcourt, speaks on his father’s refusal for him to take football as a career

You seem to have become an indigene of Rivers State having spent about eight years here, why the long stay? I am not from Rivers state, but the state has contributed a lot to my career, here is just like home to me. The people are very hospitable, they are friendly, they welcome visitors and I can say the place is home for everyone to play. Also, in terms of finances, Rivers State clubs are one of the best. All what I achieved are from here; cars, houses and so much and with that, I know I have a lot to give to the state. They say to whom much is given, much is expected, and that’s the reason why I have been giving my all to the clubs from the state whenever I am called upon. Apart from Rivers United, which other clubs have you played for? I started as a professional with Plateau United where I played for three seasons before coming down to the South to play for Enyimba of Aba for a while and later back to the north where I played for El-Kanemi Warriors. It was from there I joined Sunshine Stars of Akure, before my sojourn to Europe to play for Hapoel Rishon Lesion for a season. I came back to Nigeria in 2005 for my first stint with Dolphins. I later travelled back to Israel and play for Hapoel Ashkelon before joining Dolphins again in 2008 till today.

Rotimi

Did you ever dream of becoming a footballer? It started when I was still in primary school. I love football with passion and was giving my all to it despite my father’s plans for me to become an engineer or a doctor. Immediately after my secondary school days, I was able to concentrate on building my career as a footballer.

We are not scared of what will happen in Bauchi because our goal will be to win the game

Is your father happy about your achievements now? My dad has been saying ‘I am proud of you son’, especially when I was with the national team. Although he wants me to become an engineer and I ended up a footballer, he usually watch me on television, come for my games, in fact he was watching from the stand when we played against Warri Wolves at the weekend. Any regrets? I thank God for the benefits that came out

of it. God has really taken me far. I have been able to achieve a lot through football, I don’t have any regret, the game has taken me to a lot of places and I have been able to achieve a lot through the sport and I was able to acquire so much, it has given me a lot of benefits, even the graduates, some of them were not fortune to achieve as much as I have. What has kept you going as a veteran in Nigerian football? As one of the veterans in the league, I thank God, it’s not been easy. It all boils down to hard work and dedication to the game. I chose football and I decided to give all I have to get to where I am today. It is what I chose as a career and the best way to fulfil that is to give all and not to compromise quality. Discipline to the game, try as much as possible to pick myself up when I am down. Why did you opt for goalkeeping and not an outfield player? Initially I started as a full back but there was a day while still playing street football, we went for a game but our goalkeeper was not available and I was called upon to keep the post. I excelled in that position that day; I made sure I didn’t concede a goal. The next training, even with the availability of other goalkeepers, I was asked to go back to the post and since then I have become a goalkeeper and to God be the glory, it has become my permanent position. Do you think Rivers United have what it takes to win the league? There is every possibility that we can win the league, I believe God has already wished us to do it and at the end of the season, we are bringing back the trophy to Rivers State. How ready is your team against Wikki Tourists this weekend, a match that might decide your title ambition? The game is not going to be an easy one because they also need the three points but I believe we need it more than they do, but all things been equal, we are going to win the trophy. We are not scared of what will happen in Bauchi because our goal will be to win the game.

How were you able to convince your parents to support your football career? I believe t h a t was in

the past when parents tried to stop their children from playing football. It was a big battle between m y father and I while growing up because he puts me in school to study but I was actually occupied with playing football. In fact, the relationship between us became so bad because I was putting all my efforts in playing football. While playing

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

Rotimi

What your opinion on the appointment of a foreign coach, Gernot Rohr, to handle the Super Eagles? I have to be frank, we needed a white coach and I am happy the Nigeria Football Federation deemed it fit to employ one. We needed a fresh mind to come and handle the national team and if you look at the game against Tanzania, you will see the difference from the past. I am not taking anything away from our local coaches, but we need to look at what is best for us and our players which is what the NFF has done.

NIGERIAN PREMIER LEAGUE ROUND-UP

Stories by Charles Ogundiya

Rivers Utd target victory in Bauchi

ivers United players have said there is no stopping them from winning the league after their 3-1 defeat of Warri Wolves at the weekend in Port Harcourt. The captain of the team, Austin Festus, said they paid the management back for its support with the league title. Speaking further, the captain said the game against Wikki Tourists come this weekend would be the title-decider and they would be ready for the match. According to him, get-

WORLD \ NEWS

SPORTS

MONDAY, SEPTEMBER 12, 2016 NEW TELEGRAPH

ting a victory in Bauchi will make the work 95 percent done and they will be going there to get a victory. On his own part, defender Idris Aloma said he wanted another medal round his neck and they were not going to stop until they win the title. “Last season I won the title with Enyimba and I can’t wait to claim the title with Rivers United. We have been consistent this season and we can’t stop now," he said "Rivers United have won more games than every other club and we

have been getting the results at home. All what we need now will be to get a victory in Bauchi and we are there"

NPFL RESULTS MFM FC

3-1 Lobi Stars

Ikorodu Utd

4-1 Kano Pillars

IfeanyiUbah

2-0 Akwa Utd

Nasarawa Utd 2-1 Wikki Tornadoes

1-0 Enyimba

Rivers Utd

3-1 Warri Wolves

US pays tribute to 9/11 victims 15 years after attacks

mericans commemorated the 15th anniversary of the Sept. 11, 2001 attacks yesterday with the recital of the names of the dead, tolling church bells and a tribute in lights at the site where New York City’s massive twin towers collapsed. As classical music drifted across the 9/11 Memorial plaza in lower Manhattan, family members and first responders slowly read the names and delivered personal memories of the almost

3,000 victims killed in the worst attack on US soil since the 1941 bombing of Pearl Harbor. Tom Acquarviva lost his 29-year-old son Paul, who worked at financial services firm Canter Fitzgerald on the 101st to 105th floors of the North Tower, just above where the first plane struck. Acquarviva was one of 658 Cantor Fitzgerald employees killed in the attack. “We miss him terribly. Terribly, terribly, terribly. Not a day goes by that we

don’t remember him,” Acquarviva told Reuters. But he said he felt a sense of hope: “There are more people here today than there ever have been.” The ceremony paused for six moments of silence: four to mark the exact times four hijacked planes were crashed into the World Trade Center, the Pentagon near Washington DC, and a Pennsylvania field. The last two record when the North and South towers of the Trade Center crumpled.

Shooting Stars 2-1 Rangers Sunshine 3-1 Plateau

US President Barack Obama places a wreath during a ceremony marking the 15th anniversary of the 911 attacks at the Pentagon in Washington US yesterday.

Zimbabweans use satire to protest bad governance

Rivers United's Keumian Guy (left) battling for the ball against Rangers' Ayobami Asekunowo

Rangers still in contention for title –Orji

nugu Rangers defender Kalu Orji has expressed confidence in his team’s ability to win the Nigeria Professional Football League title despite suffering a 2-1 defeat against Shooting Stars at the Lekan Salami Stadium, Ibadan on Saturday. The loss to 3SC has

placed the Flying Antelopes in second position behind Rivers United. Orji added that the three games remaining woulddetermine the team that will emerge champions. “Things didn’t go according to plan for us against 3SC and we are

sad to lose the game,” he said. “But it’s not over for us as we have three games to salvage the season and become champions. “It’s going to be difficult as the other clubs are desperate to win the title but we have to believe we can do it.”

MFM draw closer to survival I t was a relief for Lagosbased MFM FC after defeating Lobi Stars 3-1 to move closer to safety after a turbulence season in the league. The season started on a very bright note for MFM after gaining promotion from the Nigeria National League side, but since the second stanza, they have been finding things difficult with the club failing to get a win in their last seven matches. The game against Lobi Stars was earlier

scheduled for Saturday, but was postponed to Sunday morning with Sikiru Olatunbosuns opening scoring and a brace from Newman Musa gave MFM their first victory in eight matches. The opening goal came when Chukwuka Onuwa initiated a superb move from the middle of the park in the 21st minute of the game ended on the feet of Olatunbosun to fire home. Newman doubled the home team's lead with

just six minutes into the second half when he capitalised on a defensive mix up by Lobi Stars defenders while completing his brace when he latched on to an intelligent delivery from Stanley Okorom. The visitors pulled a goal back in the 63rd minute through Barnabas Imengers wellstruck effort. The win has taken MFM to the 15th position on the table with 41 points from 33 league matches.

ctors in Zimbabwe have taken to the stage to protest corruption, unemployment and bad governance despite what government opponents call a crackdown on dissent. In ‘State of the Nation’ a group of young Zimbabweans use performance art to mock politicians vying to become country’s next leader, and pull no punches when it comes to longtime President Robert Mugabe and his inner circle.

Mugabe is presumed dead at the start of the play then one of the performers unleashes a flurry of jokes about his wife Grace, and what they say is her lavish lifestyle and out-of-touch persona. “When my people are starving, I sometimes skip meals for them,” Chisi Tenga, the actress playing Grace Mugabe, says to a laughing audience. Opposition leaders including Morgan Tsvangirai, Joice Mujuru and Pastor Evan Mawarire don’t escape the ridicule, with the actors

saying comedy is key to highlight corruption. Al Jazeera’s Haru Mutasa, reporting from Harare, said the actors know they may get into trouble but insist they will keep performing until they are forced to shut the play down. “Several people have been arrested while protesting in the past few weeks. Others have been badly beaten by riot police. For some Zimbabweans, going on stage to voice their opinions is an alternative option,” Mutasa said.

Brexiters tell British PM to speed up break with EU

n the run-up to Britain’s referendum on whether to remain in the European Union, opponents of Brexit warned that leaving the bloc would lead to economic peril, but the country’s economy appears to have performed strongly in the 78 days since the vote, undermining predictions of gloom and doom. And now, leading Brexiters are calling more loudly for a quick, sharp break with the EU — or a

“hard Brexit.” They point to the buoyant stock market and strong figures for jobs and retail sales as evidence the government should not delay invoking Article 50, the treaty clause that would start a two-year countdown for Britain’s formal exit. Among them a former Conservative Party leader, Iain Duncan Smith, who now says Article 50 should be invoked before Christmas, despite Theresa May, Britain’s

new prime minister, repeatedly saying otherwise. Last week, Smith blasted the current state of the EU, saying the bloc is in a “complete mess.” He labelled the idea that Brexit won’t happen a “ridiculous pipe dream.” Yesterday, leading Brexiters formed a new pressure group called Change Britain, which aims, according to the organizers, to help “deliver the UK’s referendum result in the most effective way.”

On Marble

The man, who finishes in style, finds it easier to be excused for not finishing on time.

World Record

Sanctity of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

– Kingsley Ogbeide-Ihama MONDAY, SEPTEMBER 12, 2016

N150

Macon Bolling Allen (August 4, 1816 – June 11, 1894) is believed to be both the first African American licensed lawyer to practice law and to hold a judicial position in the United States. Allen passed the bar exam in Maine in 1844 and became a Massachusetts Justice of the Peace in 1848.

Public arena T he column you write

Yes, we need a national carrier Adewale Kupoluyi

few days ago, I had the privilege of chatting with a friend and colleague, who just came back to the country after a trip abroad. After sharing with me the reason why he embarked on the trip, he took time to express his dissatisfaction that Nigeria has been unable to float a national carrier despite our mantra of being the Giant of Africa. He lamented that many opportunities associated with having a national carrier had eluded the nation.

To a large extent, I agree with him over his submission because having a national carrier not only confers prestige on the country, it makes travellers coming from outside to feel more comfortable. Given the size of our nation, huge population, mobility of our people and tourist potentials, there are sufficient grounds to argue for a national carrier. Presently, the country appears to lose so much money to foreign airliners in spite of series of network of routes or the capacity to operate extensively on many lucrative routes. Unfortunately, the limited private airlines that attempt doing so do not seem to have the wherewithal and capacity to fund such extensive foreign operations. In addition to serving as a platform for conveying passengers to their various destinations, a national carrier remains a vehicle for international relations and trade. A successfully-run national carrier is capable of changing the debilitating outlook of Nigeria that has been reported to be losing about $2.3 billion on annual capital flights to foreign airlines. Efforts were made recently to resuscitate the defunct Nigeria Airways while a new national carrier is expected to emerge going by the resolve of President Muhammadu Buhari in constituting a 13-member committee, to review the case. The panel’s terms of reference include reviewing the report of what led to the failure of Nigeria Airways and other private airlines; to consult with international partners on the possibility of setting up the national carrier on public-private partnership basis; and to develop the best model for the airline for Nigeria so that the country could enjoy the benefits inherent in Bilateral Aviation Services Agreements (BASA). The Nigerian Minister of State, Aviation, Senator Hadi Sirika, had disclosed that the new national carrier would be private-sector driven, adding that the coming of the airline was not meant to kill the smaller carriers operating in the country of an estimated population of about 175 million people and 22 distressed airports currently being managed by Federal Airports Authority of Nigeria. No doubt, the country had made several attempts at reviving the national carrier. The first was the ugly experiences of operating the defunct Nigeria Airways. This effort showed the inability of the government to successfully run businesses such as airlines in which billions of dollars went down the drain. Another attempt involved government’s partnership with Richard Branson’s Virgin Atlantic but which collapsed. Other attempts to float the national car-

Hadi Sirika, Minister of State, Aviation

Buhari

Branson rier, such as ‘Air Nigeria’ and ‘Nigerian Global’, were not successful after spending huge public resources.

A successfully-run national carrier is capable of changing the debilitating outlook of Nigeria

Over the years, the aviation sector has been accused of enmeshing in corruption resulting in the placement of internationally-accepted best practices under suspension and leaving many questions unanswered. These challenges border on the award of concessions, disbursement of intervention funds meant to improve the sector, faulty employment or arbitrary dismissal of personnel, enforcement of rules by regulatory agencies, renovation of facilities and wasteful spending on unproductive items such as buying of armoured luxury cars for top officials in the midst of lack of up-to-date equipment and infrastructure. Reflecting on the past, the Nigeria Airways had over 30 aircraft in its fleet and by the time it was eventually liquidated in 2003, it barely had three aircraft. The once flourishing business had become a national shame and huge liability, as it was derogatorily called “air waste”. Some of its aircraft were allegedly seized abroad due to indebtedness while its employees were owed cumulative salaries. It was even reported that at one of the most trying moments in 2002, a delayed Lagosbound flight from New York, the airline was bailed out by a passenger, who had to lend out money just to re-fuel! Factors that led to the collapse of Nigeria Airways have allegedly been blamed on large scale corruption, lack of good business model, rampant disregard for established regulations, indebtedness, undue interference by government officials, internal politics and power tussle. No doubt, having a national carrier has many advantages and demerits. The disadvantages are basically what we obtain with the involvement of government in business activities - poor performance, inefficiency and waste. On the other hand, the merits include the capability to promote the abundant tourism industry as well as the use of promotional materials in visiting these tourist sites. In the mood of the nation that urgently calls for the diversification of the monolithic economy, it is expected that a national

carrier should be more committed to the promotion of tourism, if reintroduced. As previously mentioned, having a national carrier would make it possible to enjoy the benefits of BASA, which allows inter national and commercial air transport mechanisms to freely move between territories. Unfortunately, most of the BASA agreements signed by the country seem to favour foreign airlines at the expense of domestic ones. This should be corrected. Those genuinely clamouring for a national carrier are impressed with the success stories of continental ones like Ethiopian Airlines, Kenya Airways, Egypt Air and South African Airways that have all grown to having the reputation of becoming formidable and efficient airlines. Ethiopian Airlines alone currently flies to over 80 international destinations across five continents with over 200 daily flights by operating young and modern aircraft. To ensure that the nation benefits immensely from its aviation industry, the Federal Government should rather encourage private investment in the running of our airlines by providing the enabling environment in terms of sustainable policies that focus on ensuring that existing airlines operate in a more conducive atmosphere devoid of corruption, poor infrastructural facilities, multiple taxation and expensive aviation fuel. From the forgoing, the government should empower our indigenous airlines to grow to a point where we can comfortably promote the viable ones among them to emerge as national carriers. By that way, the government would have truly assumed supervisory role while private hands would be encouraged to run the sector and even do it better. That way, we should have a sustainable, vibrant, reputable and profitable national carrier that would not be a public burden like the Nigeria Airways. •Kupoluyi writes from Federal University of Agriculture, Abeokuta (FUNAAB), adewalekupoluyi@ yahoo.co.uk,@AdewaleKupoluyi

HIGH CHIEF

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