New telegraph wednesday, april 27, 2016 by Newtelegraphonline

World Bank raises 2016 oil price forecast lCuts agriculture price projections lOil prices seen rising as oversupply shrinks Ayodele Aminu

he World Bank has raised its 2016 forecast for crude

oil prices to $41 per barrel from $37 per barrel in its latest Commodity Markets Outlook released yesterday. This, according to the

global bank, stemmed from improving market sentiment and a weakening dollar, as an oversupply in markets is expected

to recede. The crude oil market had rebounded from a low of $25 per barrel in midJanuary to $40 per barrel

in April following production disruptions in Iraq and Nigeria and a decline in non-Organisation of the Petroleum Exporting

Countries (OPEC) production, mainly U.S. shale. Proposed productions freeze by major producers also failed to materialise at a meeting in mid-April. CONTINUED ON PAGE 4

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Wednesday, April 27, 2016

I borrow N400m monthly to augment salaries –Niger Gov }44

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Vol. 3 No. 798

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Biafra: Court dismisses Kanu's application for stay of proceedings }42

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UI shut indefinitely over violent protest }40

Olayinka

Fuel scarcity: IG orders police to arrest black }10 market operators

N150

Arase

Killings by Fulani herdsmen:

Bloody days ahead MASSOB: Herdsmen must leave Igbo land or face our wrath Bishop: We’ll declare war on herdsmen Enugu gov weeps Afenifere: Nigeria on path of disintegration }2 & 4 1

1. A victim of the Monday's Fulani herdsmen's attack on his hospital bed in Nsukka, Enugu State. 2. Enugu State Governor, Ifeanyi Ugwuanyi, in tears during his visit to Ukpabi… yesterday

3. One of the victims at the Holy Cross Hospital, Nsukka, Enugu State… yesterday.

Protesters storm N’Assembly, demand Saraki's resignation }3

Fructose could damage your health }10

NEWS

WEDNESday, APRIL 27, 2016 NEW TELEGRAPH

Killings by Fulani herdsmen: Bloody days ahead

Our Correspondents

ension is building in the country over the Monday attack in Ukpabi Nimbo in Uzouwani Local Government Area of Enugu State by Fulani herdsmen. No fewer than 30 people died in the attack while houses, including a church, were destroyed. There are fears of bloody days ahead as various ethnic groups threaten reprisal over the perennial killings by herdsmen

across the states. Already, some Hausa and Fulani living in Enugu are taking refuge in the Army barracks. The Movement for the Sovereign State of Biafra (MASSOB) yesterday declared that it would not watch while the Fulani herdsmen killed Ndigbo. The group said that the Enugu killing smacked of ethnic cleansing. MASSOB, in a statement by its Director of Information, Edeson Samuel, asked all Igbo youths and groups to be on the

alert. It said: "We wish to remind Ndigbo and Biafrans that this killing and destruction of property of our people by Fulani herdsmen is getting out of hands. The fact that MASSOB believes in nonviolence does not mean that we cannot defend ourselves. "There is limit to human endurance. It is a pity that Amnesty International has never, for one day, written a report against Nigerian military and Fulani herdsmen over

the killing of our people.” He stated that the security agencies have failed to tackle the killings by the herdsmen. "Fulani herdsmen invaded Ukpabi Nimbo in Uzo-uwani Local Government Area of Enugu State, killing over 130 people. Many houses, vehicles, motorbikes were set ablaze. It is on record that the Nigerian police received security report on Friday April 22, that over 500 Fulani herdsmen have gathered in that community to attack them.

Students of the University of Ibadan protesting over lack of electricity and water supply in the institution in Ibadan … yesterday. PHOTO: NAN

Governor weeps over Enugu carnage Kenneth Ofoma and Charles Onyekwere Enugu

overnor Ifeanyi Ugwuanyi, yesterday, broke down in tears on sighting the carnage and destruction at Ukpabi Nimbo in Uzouwani Local Government Area of Enugu State. The community was attacked on Monday by suspected Fulani herdsmen. The governor called for two days of fasting and prayer as more butchered bodies were recovered. The community was deserted as those left were wearing long faces. One of the bodies recovered during the visit that moved the governor to tears was that of a teacher posted to the community from Enugu Ezike. The recovered body was identified as Ugwu Ogbu. "We have become refugees in our community”, lamented the traditional ruler of Nimbo. He said their women were raped daily in the farm and their men killed. He asked whether they were still part of Enugu State. A Catholic church, Christ Holy Church, Onueke Nimbo, and 11 houses were burnt. More than 30 people

were reportedly killed during the Monday’s attack. New Telegraph gathered that since the incident, there has been a mass exodus of people from the community to neighbouring villages. Schools, churches and homes were burnt down by the herdsmen, who were said to have numbered in their hundreds, during the attack. In the three hospitals visited by New Telegraph in Nsukka yesterday, over 20 survivors were battling to survive as many of them who sustained serious machete cuts were still wailing on their beds. At Bishop Shanahan Hospital, Nsukka, five injured people were receiving treatment with some cuts on their heads, legs and hands. They were able to survive the attacks by the herdsmen while six bodies were deposited at the morgue. Also at Royal Cross Hospital, a former councillor in the area was receiving treatment following injuries he sustained during the attack. Ugwuanyi, who visited the troubled area and the hospitals, expressed dismay over the incident. He promised government’s assistance towards the plight of the victims. He also made a donation

of N5 million to the community and appealed to those that fled their homes to come back as government was doing all it could to restore normalcy to the area. "Be that as it may, what has happened, has happened. This is not the time to blame anybody. Government will do what it is supposed to do. I understand that economic activities have been shut down here. We will, as a government, make available the sum of N5 million to the leaders of this community and then from there, proceed to the hospital, settle all the bills and then later, we go to the next line of action. “May I, therefore, call on the entire people of Enugu State to please embark on fasting for two days and put this into the hands of God. Enugu is in the hands of God. I reassure this community that the government and the people of Enugu State are behind you; your pain is our pain,” Ugwuanyi stated. The governor stated that it was "a solemn moment in the state”. Ugwuanyi said he was more embarrassed that the attack could come after every effort and meetings he held with the security agencies and leaders of the Fulani community in the state. “I share in your grieve

because this is part of me lying down here. These are real victims of democracy and they have paid dearly with their lives. I have come to identify with you and share in your pains and I will pacify you as much as I would wish that God will intervene and bring solution to all these,” he said. The community said that over 20 persons were killed while more bodies still lay in the bushes. The governor later visited the hospitals where some of the injured natives were being attended to. Ugwuanyi was accompanied on the visit by the General Officer Commanding (GOC), 82 Division, Major General Attahiru Ibrahim; the State Commissioner of Police, Elochukwu Nwodibo; Commandant of Civil Defence in the state, among other top government functionaries.

333

The current deployment of electricity (TWh/year) in the total hydro market area of Asia in 1995. Source: Unesco.org

The total number of open play goals scored by Cameroon at Brazil 2014 World Cup. Source: Fifa.com

"This ethnic cleansing was planned against Ndigbo in 2003. Now that the power has gone to the Fulani man, they began the execution of this evil agenda. MASSOB is calling on all the Pro-Biafra groups, Igbo youths to wake up and let us unite and face our enemies. "We are warning the Fulani herdsmen to leave Biafra land or they will face our wrath. MASSOB is also calling on international community, the United Nations (UN), European Union (EU), African Union (AU) to come to our aid because the agenda of Muhammadu Buhari and his kinsmen is to exterminate Ndigbo and Biafrans from the face of the earth. "It is time for the people of Kogi, Benue and Plateau states to rise up and defend their land and save their people from these Fulani herdsmen because a stitch in time saves nine. "We will not fold our hands and watch our people murdered in cold blood," MASSOB said. Archbishop of the Church of Nigeria (Anglican Communion), Enugu Archdiocese, Dr. Emmanuel Chukwuma, yesterday warned that if nothing was not done to checkmate the Fulani herdsmen, he would personally ask the pro-Biafra groups to declare war on the Fulani herdsmen. Chukwuma said: "I feel bitter. I feel aggrieved. I feel sad that the All Progressives Congress (APC) government at the centre cannot protect us. We call on the Federal Government to declare a state of emergency in Igbo land over the Fulani herdsmen’s threat to security in the zone, or

else we will declare war against the Fulani herdsmen. "I feel sad that the APC government at the centre cannot protect us. Failure to curb the activities of Fulani herdsmen will make us to ban the Fulani herdsmen from rearing their cattle in the zone. Any attempt to harass any Igbo youth in any community will not be taken lightly. We will not tolerate it in Igbo land. We are declaring war against the Fulani herdsmen. “We are calling on northern elders to caution their people (Fulani herdsmen). Government should speak out against this Fulani herdsmen menace. "Where did the Fulani herdsmen get the AK 47 riffles from? We will bring our own Ogbunigwe out to defend our rights. We will match force with force. "Fulani herdsmen come to Igbo land, ravage our farmland, rape our women. That we were defeated in the last civil war does not mean we will remain slaves forever even in our land. We will defend our land with our blood. Why was there security lapse? The Department of State Services (DSS) and other security operatives alerted the government, yet they went ahead with their threat by unleashing mayhem on the villagers. The Fulani herdsmen are more violent than the Biafra agitators," he stated. Afenifere, the Pan Yoruba socio-political group, asked the six governors in the South-West to map out strategies to prevent the attack of herdsmen in their domain. The group, after its monthly meeting held CONTINUED ON PAGE 4

National security: FG orders Police, others to crush potential threats Emmanuel Onani Abuja

orried by rising spate of violence across the country in recent times, the Federal Government has directed relevant securities agencies to deal ruthlessly with perpetrators of acts that threaten national security, peace and stability. Apart from the Boko Haram insurgency in the North-East, scores of people have died from herdsmen/farmers’ clashes, communal conflicts, cultism and other violent occurrences. While declaring open a seminar organised by the Centre for Crisis Communication (CCC) yesterday in Abuja, the Minister of Defence, Brig-Gen. Mansur

Muhammad Dan-Ali (rtd), said all security agencies will continue to provide adequate security, to guarantee safety of lives and property. Accordingly, Defence Minister disclosed that "all security agencies in Nigeria have been called upon to crush and deter the threats of crisis and conflicts that have potential to disrupt peace and security of our country." He added: "Our security and response agencies are constantly engaged in the essential tasks required for meeting the internal security objectives of ensuring safety and security of Nigeria's territorial integrity, its population and all the critical infrastructures. Our government will not relent in this primary objective.”

NEWS

WEDNESday, APRIL 27, 2016 NEW TELEGRAPH

Protesters storm N’Assembly, demand Saraki's resignation Chukwu David Abuja

here was a chaotic situation at the National Assembly and its vicinity yesterday, as hundreds of protesters operating on the auspices of Citizens United for Peace and Stability (CUPS) stormed the complex, demanding the immediate resignation of the President of the Senate, Dr. Bukola Saraki, on the allegations of corruption levelled against him. This was as a pro-Saraki group also conducted a peaceful demonstration, condemning the trial of the Senate President at the Code of Conduct Tribunal (CCT). The pro-Saraki group said that the trial was an attempt to intimidate and subjugate the Senate to the whims and caprices of the executive. Saraki is currently being prosecuted at the CCT on alleged false declaration of assets. The protesters wore green and white T-shirts, carrying placards with various inscriptions: ‘Legislators, stop budget padding’, ‘Return exotic cars’, ‘Saraki must go’, ‘Enough

23.05m

The total surface area (in sq. km) of Europe in 2012. Source: Un.org

is enough’, “Saraki, your time is up. Resign,’ ‘Saraki must go to stop corruption in NASS’, ‘Occupy NASS to stop corruption’, ‘Legislation, yes, Legislooting, No’, among others. The protesters barricaded the main entrance to the National Assembly complex, thereby forcing lawmakers and staff in the legislative arm to use the alternative entrance at the back of the complex to enter their offices. The CUPS members accused the Senate President of acts of corruption, recalling his alleged false assets declaration, alleged padding of the 2016 Budget by legislators and the delay in presidential assent of the budget. The protesters alleged that Nigerians were passing through hardship at the moment owing to refusal by President Muhammadu Buhari to assent the 2016 Budget, insisting that the situation was partly the fault of the National Assembly, for being sympathetic to Saraki. Sadiq Jidda, who spoke on behalf of the protesters, said that Saraki was lacking in integrity and that his inability to live above board as the leader of the

4,224

The total number of incidence of terrorist violence in 1996. Source: Satp.org

Dogara meets Buhari over budget impasse

lSaraki absent at parley Anule Emmanuel Abuja

peaker of the House of Representatives, Hon. Yakubu Dogara, yesterday, met behindclosed door with President Muhammadu Buhari at the presidential villa, Abuja. The meeting held inside the President's office. Although no official reason was given for the meeting, our correspondent gathered that it might not be unconnected with the budget impasse. Buhari has been consulting widely as part of efforts aimed at resolving the 2016 Budget controversy. The president, on Monday, met with Governor Bello Masari of Kastina State and former Senate President, Ken Nnamani on the same matter at the presidential villa. Senate President Bukola Saraki was, however, absent at yesterday's meeting which appeared to be

between the presidency and the leadership of the National Assembly. The meeting lasted about 30minutes. Chief of Staff to the President, Abba Kyari, and Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, were present at the meeting. Security men attached to the Presidential Villa barred State House correspondents from getting access to Dogara after the meeting. A security gate erected at the front of the Council Chambers was locked against journalists when they attempted to approach Dogara as he made his way to his vehicle. Kyari later told the reporters that the Speaker could not have spoken to them because there are two leaderships of the two chambers of the National Assembly, saying only one of the leaderships visited. Enang also declined comment on the matter.

National Assembly had disqualified him from the exalted office. He said Nigerians needed a leader they could always trust and learn from, and not the set that would allow corruption to persist, urging Nigerians to collectively rise and demand for immediate resignation of Saraki The protesters, who arrived the National Assembly premises as early as 10:30 a.m., were initially seen dancing and singing, while chanting anti-Saraki songs. However, for fear of breakdown of law and order, security operatives at the complex moved swiftly to shut down the main gates in an attempt

to prevent the protesters from gaining entry into the main premises. Earlier, the pro-Saraki group addressed a crowd of supporters, stating that the trial of the Senate President was an attempt to emasculate the National Assembly. The pro-Saraki protesters implored Nigerians to rise in defence of the National Assembly by preventing those they described as enemies of democracy to halt the progress the Senate had recorded in defending, promoting and projecting democracy. Reacting to the protests, the Leader of the Senate, Ali Ndume, said that the development was un-

healthy for democracy. He said that no amount of protest would force any legislator to resign. Ndume stressed that there was a democratic process of recalling any senator, adding that protest was not the constitutionally recognised process. He described the protest as a “wrong precedence and anti-democratic.” “That is why we are not trying to say anything about them because what is happening out there is a very dangerous precedence that we are trying to set. “I contested to represent Borno South. I did not force myself on my people and, therefore, somebody

out there, especially the one that did not elect me cannot force me out because I didn't come in by force. “I came in by ballot not by gun, not by placard; I have posters not placards. “So, if for example, I am short of performance and my constituents feel that they do not have time to waste, there is a clear cut process by which they can ask me to be recalled. “They will collect signatures, ask for me to be recalled, that is the democratic way, not by coming in here to stand and say you want to occupy NASS. “You occupy NASS to do what? To be leader or to be senator? It does not work that way,” he said.

A cross section of protesters demanding the resignation of Senate President Bukola Saraki at the National Assembly Complex, Abuja… yesterday. PHOTO: ELIJAH OLALUYI

Clerk: We can’t reverse Sani-Omolori’s appointment, Fika tells Senate Philip Nyam Abuja

hairman of National Assembly Service Commission (NASC), Dr. Adamu Fika, yesterday told Senate President Bukola Saraki and Speaker Yakubu Dogara that the appointment of Alhaji Mohammed Sani-Omolori as the acting Clerk of National Assembly (CNA) cannot be reversed. Saraki had, in a letter dated April 21, requested the NASC to rescind the appointment of SaniOmolori to give room for further consultation, alleging that he and Dogara were misled by the commission in making the appointment. But Fika, in a letter dated April 26, with Ref. No. NASC/CHO/PS/II/ II/28, sent to Saraki titled: “Re: Appointment of Acting Clerk of the National Assembly,” faulted the promotion of Saraki's preferred candidate (Benedict Efeturi) to the position of the deputy CNA. Fika, in the letter ob-

tained by New Telegraph, disclosed that the appointment of Efeturi as the Deputy Clerk of National Assembly in 2014 was "improper" and conflict with the best practice in the Nigerian Public Service. He explained that "The Commission took into account the fact that Mr. Benedict Efeturi will, himself, proceed on his preretirement leave on 2nd August 2016, 12 days before the incumbent Clerk will be due to handover to his successor. "This means that Mr. Efeturi is time barred to hand over the acting appointment. Hence, the choice of Mr. Sani-Omolori to act and ensure continuity in that very important public service office where he will serve for the next five years. In arriving at the commission's decision, the chairman did not use his casting vote, because 11 commissioners were in support with only one who voted no. "I wish to kindly invite your attention to the reason alleged in your letter to have been used to deny Mr. Benedict Efeturi from

being appointed as the Acting Clerk that he was not duly appointed as Deputy Clerk of the National Assembly. It is necessary to place on record the career progression of the two officers in the hierarchy of the National Assembly as follows: “According to the letter, Sani-Omolori was appointed to the post of Deputy Director on the 1st January 2003; Director on 1st January 2007; acting Clerk on 4th February 2010 and substantive clerk on the 25th April 2010. “On his part, Efeturi was elevated to Deputy Director on the 1st of January 2004; Director on 1st January 2008; acting Clerk on 4th February 2010 and substantive clerk on the 25th April 2010. "It should be noted that in the Nigerian public service, seniority is determined at the time of consideration for promotion and career progression chart leading to it. Seniority has never and is neither decided by the date of appointment to the service nor date of retirement from service or indeed the

number of years spent in the service. "From the above analysis, denying Mr. Mohammed A. Sani-Omolori appointment as Deputy Clerk to the National Assembly in 2014 was improper being that he was senior to Mr. Benedict Efeturi. With the above explanations, the issue of misleading your good self and the Honourable Speaker of the House of Representatives does not arise as the commission properly evaluated the two officers and took into account their service records as a determining factor for the appointment of Acting Clerk to the National Assembly. "In light of all the foregoing, Your Excellency will agree that reversing the decision of the commission appointing Mr. Mohammed Sani-Omolori as the Acting Clerk to the National Assembly cannot be tenable in the circumstances," Fika stated in the two-page letter to Saraki. Sources in the National Assembly noted that Eferuri's accelerated promotion was facilitated by the leadership of the Senate.

NEWS

WEDNESday, APRIL 27, 2016 NEW TELEGRAPH

FG rejects grazing routes, opts for grazing reserves

Philip Nyam Abuja

he Minister of AgriThe Minister of Agriculture and Rural Development, Chief Audu Ogbeh, yesterday revealed that the Federal Government is to create grazing reserves across the country as a means of resolving the incessant clashes between Fulani herdsmen and farmers. This is even as the House of Representatives has invited the Director General of the Department of State Services (DSS), Alhaji Lawal Daura, to explain the measure his organisation is putting in place to stop killings by herdsmen. Ogbeh spoke at the public hearing on the “urgent need to address the incessant clashes between herdsmen, farmers and their host communities

in Nigeria” and 11 bills bordering on grazing and provision of fertilizer to internally-displaced persons (IDPs) returning to their states. The minister said the proposal for carving out grazing routes for herdsmen cannot work, explaining that the best solution to the perennial crisis between farmers and the herdsmen was to have grazing reserves. He said: "I hear there is a bill in the Senate seeking to create grazing routes, where are they grazing to; to another man's farm? "Creating grazing routes is not the solution as it is known worldwide that cows kept in ranches produce better than grazing cows." According to him, 12 states out of the 36 states contacted by Federal Ministry of Agriculture and Rural Development have already confirmed readi-

ness to partner on the grazing and irrigation initiatives, adding that nine states have agreed to provide 5,000 hectares of land each for the project. He also assured on plans to revitalise the existing 415 grazing locations across the country, majority of which are in Adamawa State, by providing requisite facilities. Ogbeh stressed that Federal Government will embark on the implementation of the grazing project as soon as the 2016 budget is signed into law. He, however, cautioned that the use of force may not work and advocated persuasion. Also kicking against the creation of grazing routes, the Tiv socio-cultural group in Benue state, Mdzough U Tiv (MUT) recommended the rearing of cattle in ranches in accordance with worldwide best practices.

President General of MUT, Chief Edward Ujege, who presented the position of the group, called for a law to prevent cattle and other animals from roaming. While declaring open the hearing, Speaker Yakubu Dogara said there was need for deliberate and proactive actions to end the incessant farmers and herdsmen clashes spreading across the country, noting that if not properly checked, it could divide Nigeria. Dogara, who was represented by the deputy minority leader, Hon. Onyeama Chukwuka, urged the committee and stakeholders to make appropriate recommendations that will "go a long way in guiding the House in the enactment of appropriate legislation.” Meanwhile, the House at plenary invited the DG of DSS to explain the mea-

L-R: Minister of Agriculture and Rural Development, Chief Audu Ogbeh; Chairman, House of Representatives' Committee on Agriculture, Hon. Tahil Mogunnu and Anambra State Deputy Governor, Dr. Nkem Okeke, during a public hearing in Abuja… yesterday. PHOTO: ELIJAH OLALUYI

sure his agency is putting in place to stop the killing of people across the country. The House also mandated the Inspector-General of Police (IGP), Mr. Solomon

Bloody days ahead CONTINUED FROM PAGE 2

in Akure, the Ondo State capital, took a swipe at the Federal Government for not preventing the attack on the people by the herdsmen. In a communiqué read by its spokesperson, Mr. Yinka Odumakin, Afenifere blamed the Enugu's attack on the statement made by DSS that a shallow grave where Fulani men were buried was discovered. Odumakin said Afenifere is worried about the recent spate of killings by Fulani herdsmen across the country as evident in Agatu killings, the murder of Olu Falae's guard in his farm, the killings in Ibadan and Enugu. "We are worried that the Federal Government seems to have maintained indifference to the wanton killings going on across the country against the provisions of the constitution. We call on President Muhammadu Buhari to speak up on this matter and to take urgent action to restore the sense of peo-

N1,304.4bn The annual target collection of taxes of Nigeria in 2005. Source: Firs.gov.ng

World Bank raises 2016 oil price forecast CONTINUED FROM PAGE 1

Oil prices had, on Monday, slipped 27 cents to $44.84 per barrel after hitting $46.18 in the previous session. The price fell after an inventory spike at a key storage base for U.S. crude, although a weaker dollar limited the market's downside, keeping it not far from five-month highs. The World Bank said: “We expect slightly higher prices for energy commodities over the course of the year as markets rebalance after a period of oversupply,” said John Baffes, Senior Economist and lead author of the Commodities Markets Outlook. “Still, energy prices could fall further if OPEC increases production significantly and non-OPEC production does not fall as fast as expected.” It, however, said that all main commodity indexes it tracked are expected to decline in 2016 from the year before due to persistently elevated supplies, and in

the case of industrial commodities – which include energy, metals, and agricultural raw materials – weak growth prospects in emerging market and developing economies – where Nigeria belongs. The World Bank said energy prices, including oil, natural gas and coal, are due to fall 19.3 per cent in 2016 from the previous year, a more gradual drop than the 24.7 per cent slide forecast in January. Non-energy commodities, such as metals and minerals, agriculture, and fertilizers, are due to decline 5.1 per cent this year, a downward revision from the 3.7 per cent drop forecast in January. Metals prices are also projected to fall 8.2 per cent in the coming year, less than the 10.2 per cent drop forecast in January, reflecting expectations of stronger demand growth by China. Agriculture prices are forecast to fall more than

projected in January in what is expected to be another favourable harvest year for most grain and oilseed commodities. Agricultural commodities prices are also pulled down by lower energy costs. Besides, the global bank noted that low commodity prices are undermining growth prospects for many resource-rich countries that experienced a surge in exploration, investment, and production during the commodities boom of the 2000s. “Countries that have borrowed and invested heavily in anticipation of faster growth may struggle to service their debt and sustain investment when growth disappoints as a result of lower commodity prices,” the Commodity Markets Outlook said. With oil and metals prices today 50 per cent to 70 per cent lower than their early 2011 peaks, natural resource development projects have already been put on hold or delayed in sever-

al emerging and developing countries, the bank added. “These project delays can adversely affect countries that can ill-afford such setbacks,” said Ayhan Kose, Director of the World Bank’s Development Prospects Group. “Greater transparency, improved government efficiency and improvements in macroeconomic frameworks could soften such disruptions. Countries may prefer to wait for prices to start rising again before launching new natural resource development initiatives.” The World Bank’s Commodity Markets Outlook is published quarterly, in January, April, July and October. The report provides detailed market analysis for major commodity groups, including energy, metals, agriculture, precious metals and fertilizers. Price forecasts to 2025 for 46 commodities are presented along with historical price data. Crude oil, Nigeria’s ma-

Arase, to conduct a thorough investigation into the killings allegedly perpetrated by Fulani herdsmen in Enugu State, with the aim of bringing them to book.

jor source of revenue and foreign exchange earnings, has crashed from about $100 per barrel in 2014 to over $40 dollars lately, compelling the Federal Government to seek other ways of generating additional revenue to cushion the effects of crude price rout and shield the naira after the 42 per cent decline in the price of crude. The naira has been pegged at N197-199 per dollar since March last year, while in the unofficial parallel market, otherwise known as the parallel market; the naira is some 43 per cent weaker, and traded at about N320 per dollar yesterday. With far fewer dollars circulating in the country, the lenders are struggling to access enough foreign exchange to facilitate imports, settle accounts with correspondent banks, keep up with customers’ use of credit cards internationally and meet maturing debt obligations.

ple of Nigeria, especially in the south and middle belt," Afenifere said. Odumakin added: "We demand immediate meeting of all South-West governors, irrespective of their party affiliations and ensure that they meet to device means and ways to protect the lives of their citizens and properties against these invaders who are rampaging everywhere. "We believe that given the fact that Nigeria is threading on the path of disintegration if the issue of Fulani herdsmen is not well handled, we demand the immediate implementation of the 2014 Confab report which provided solutions to most of the problems confronting Nigerians, including the issues of the Fulani herdsmen." National Secretary of Agbekoya Farmers’ Revolutionary Group, Mr. Sola Ariyibi, urged the president to tackle the challenges posed by the herdsmen. “The president needs to be courageous. We know him as a man of his word and integrity. He is someone that cannot be swayed away by myopic, parochial, religious and inglorious tendencies and we want him to protect his integrity. The Fulani herdsmen have done a lot of havoc in Nigeria,” he said. The Deputy President of the Senate, Ike Ekweremadu, condemned the killing in Enugu. Ekweremadu called on the Senate to immediately conduct a public hearing with a view to finding a lasting solution to the issue. He said: Just on Monday, we heard that over 50 persons were killed in UzoUwani Local Government in Enugu State. We heard about 2000 people were displaced and over 100 people were injured. Houses were burnt, including churches. As I speak, some people who live in Enugu, especially the Hausa and Fulani are taking refuge in the Army barracks and it is not good for our country. These are people who didn’t know about those who went and attacked the ordinary people of Uzo-Uwani and today they are now refugees. It also implies that if any person dies in the process, there could also be reprisals in other parts of Nigeria and this can engulf the whole country.”

WEDNESday, APRIL 27, 2016 NEW TELEGRAPH

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ADMISSION ADMISSION OF OF UNDERGRADUATE UNDERGRADUATE AND AND POST-GRADUATE POST-GRADUATE STUDENTS STUDENTS FOR FOR 2016/2017 2016/2017 ACADEMIC ACADEMIC SESSION SESSION

WHY ABUAD IS THE FIRST CHOICE FOR QUALITY AND FUNCTIONAL EDUCATION

1. ROOTED IN EXPERIENCE OF THE FOUNDER ABUAD is the brain child of Aare Afe Babalola, OFR, CON, SAN, LL.D, D.Litt, a selfmade man; an acclaimed university administrator; the first and the only holder of LL.D PART C. UNDERGRADUATE PROGRAMMES (honoris causa) of the University of London in Africa in March, 2015; the former Pro- (1) COLLEGE OF LAW (5years) – LL.B LAW Chancellor of University of Lagos and Winner of NUC's the Best Pro-Chancellor Award (2) COLLEGE OF MEDICINE AND HEALTH SCIENCES (twice) in Nigeria and the Former Chairman, Committee of Pro-Chancellors of Nigeria (i) Medicine and Surgery (M.B.B.S) – 6 years, (ii) B.Sc Nursing Sciences – 5 years Universities, Winner of African Man of the Year in Education in 2014 and recipient of the (iii) Medical Laboratory Science (B.MLS) – 5 years award for Pioneering Excellence & Innovation in Tertiary Education in Africa by African (3) BASIC MEDICAL SCIENCES – 4 Years Leadership Development Foundation USA and the African Leadership Magazine UK Ltd . (i) B.Sc Anatomy (ii) B.Sc Physiology (iii) B.Sc Human Nutrition and Dietetics (iv) B.Sc Pharmacology 2. UNIQUENESS OF ABUAD (4) COLLEGE OF ENGINEERING (5years) Consistent, predictable and assured academic calendar (i) B.Eng Mechanical Engineering (ii) B.Eng Mechatronics Engineering (iii) B.Eng 100% FULL accreditation by NUC National Universities Commission and Professional Electrical/ Electronics Engineering (iv) B.Eng Petroleum Engineering (v) B.Eng Civil Bodies in all 47 programmes including seven (7) programmes in Engineering, Law, Engineering (vi) B.Eng Chemical Engineering (vii) B.Eng Computer Engineering Medicine and Health Sciences, Accounting, Computer Science, Media & (viii) B. Eng Agricultural Engineering (5) COLLEGE OF SCIENCES (4 years) Communication, International Relations and Social Justice. (i) B.Sc Microbiology (ii) B.Sc Human Biology (iii) B.Sc Agricultural Science (iv) State-of-the-art Talent Discovery Building housing 26 sporting facilities and 15 skills. B.Sc Biochemistry (v) B.Sc Chemistry (vi) B.Sc Industrial Chemistry (vii) B.Sc Ultra-modern structures housing beautiful Colleges, Hostels and other utilities. Computer Science (viii) B.Sc Mathematics (ix) B.Sc Geology. (x) B.Sc Physics and Winner, 2011 Socrates Award for Best Enterprise in Africa by European Business Electronics (xi) B.Sc Biotechnology (xii) B.Sc Physics (xiii) B.Sc Petroleum Assembly in Oxford. Chemistry Fully residential for staff and students. (6) COLLEGE OF SOCIAL AND MANAGEMENT SCIENCES (4 years) 2nd Best Private University out of 68 Private Universities in Nigeria by Webometrics in (i) B.Sc Economics (ii) B.Sc Accounting (iii) B.Sc Banking and Finance (iv) B.Sc January 2016 Ranking. Business Administration (v) B.Sc Tourism and Events Management. (vi) B.Sc Political 3. UNPRECEDENTED LANDMARKS IN ACADEMICS Science (vii) B.Sc International Relations and Diplomacy (viii) B.Sc Peace and (i) Has graduated 3 sets of students in 2013, 2014 and 2015. Conflict Studies (ix) B.Sc Intelligence and Security Studies (x) B.Sc Social Justice (ii) Students obtain professional certification in Banking, Accounting, ICT (xi)B.Sc Media and Communication Studies (xii) B.Sc Marketing (xiii) B.Sc Marketing, ICAN, Computer Science and Engineering in addition to their Entrepreneurship university degrees. PART D. POSTGRADUATE PROGRAMME (iii) Compulsory certificate in one foreign language by all students (Chinese or (1) COLLEGE OF LAW French) Master (LL.M) (iv) Best female engineering student from ABUAD – Association of Professional i. Master of Law Women Engineers of Nigeria (2) COLLEGE OF SOCIAL AND MANAGEMENT SCIENCES nd (v) 2 overall best student from ABUAD by ICAN (ATSWA) Postgraduate Diploma (PGD) (vi) Best brain award by Nigeria Trust Award i. Postgraduate Diploma in Economics ii. Postgraduate Diploma in (vii) Best University Law Faculty Award - Institute of Government Research and Management iii. Postgraduate Diploma in Accounting Leadership Technology, 2012 (viii) The computer Professionals Registration Council in 2013 designated ABUAD iv. Postgraduate Diploma in Banking & Finance as Centre of Excellence in Cyber Security. v. Postgraduate Diploma in Conflict, Peace and Strategic Studies 4. (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) 5. (i) (ii) (iii) 6. 7.

INTERNSHIP, SCHOLARSHIP AND OTHER OPPORTUNITIES Internship opportunities for students in USA, England, China and Germany, Pan Ocean Nigeria Fulbright scholarship programme. International Linkages with highly ranked world universities. (a) Center for Mechanical Laboratory by CES Industries of America. (b) Scholarship Dragnet Solutions Limited. Annual Scholarships by Pan Ocean Oil Corporation. Annual Scholarships by Zartech Limited. Annual Scholarship training in Chinese language in Chinese University. Reduction of 50% tuition fees from students studying Agriculture. Annual Scholarships for ABUAD students and teachers (N87.5m) in 2014. Agbami Medical and Engineering professional scholarship by Chevron, Star Deep Petroleum Limited and Partners. ULTRAMODERN STRUCTURES State-of-the-art talent discovery building housing 26 sporting facilities and 15 skills. Ultra-modern structures housing beautiful colleges, hostels and other utilities. Fully residential for staff and students. Robust Parents/Teachers Consultative Forum. Freedom of religion.

vi. Postgraduate Diploma in Media and Communication Studies Master (M.Sc) i. Master of Science in Economics ii. Master of Science in Management iii. Master of Business Administration iv. Master of Science in Accounting v.

Master of Science in Banking & Finance vi. Master of Science in Finance

vii. Master of Science in Conflict, Peace and Strategic Studies viii. Master of Science in Political Science ix. Master of Science in Human Resource Management x. Master of International Relations (MILR) xi. Master of Science in Media and Communication Studies (3) COLLEGE OF SCIENCES Postgraduate Diploma (PGD) i. Postgraduate Diploma in Biochemistry ii. Postgraduate Diploma in Computer Science iii. Postgraduate Diploma in Microbiology Master (M.Sc) i. Master of Science in Microbiology ii. Master of Science in Biology

For details of National and International acknowledgements, accreditation and unique learning and teaching methods, see ABUAD 6 year Scorecard and Milestone

iii. Master of Science in Biochemistry iv. Master of Science in Computer Science (4) COLLEGE OF MEDICINE AND HEALTH SCIENCES Master (M.Sc) i. Master of Science in Anatomy ii. Master of Science in Physiology iii. Master of Science in Human Nutrition

PART A. PRE-DEGREE PROGRAMME (9 Months - Admission into 100 Level)

PART E. ADMISSION REQUIREMENT FOR UNDERGRADUATE PROGRAMMES 1.

PART B. DEGREE FOUNDATION PROGRAMME (18 Months-Direct Entry into 200 Level)

Five O'Level Credit passes at one sitting to include English Language, Mathematics, Literature in English, and any other 2 Social Sciences or Arts Subjects are required for admission into College of Law.

WEDNESday, APRIL 27, 2016 NEW TELEGRAPH

AFE BABALOLA UNIVERSITY, ADO-EKITI Km. 8.5, Afe Babalola Way, P.M.B 5454, Ado-Ekiti www.abuad.edu.ng

other relevant science subjects at 'O' Level. Five O'Level Credit passes at one sitting to include English Language, Mathematics, Chemistry, Physics and Biology are required for admission into 2. Professional Master's Degree Programme Candidates for professional Master's degree programme must obtain a minimum of the MBBS and Nursing Science Programmes. Second Class Lower Division in the relevant discipline of Afe Babalola University or 3. Other Programmes: Five O'Level Credit Passes at not more than two sittings to equivalent of any other University approved by the National Universities Commission include English Language, Mathematics and three (3) other subjects relevant to (NUC). course of study. * Candidates with university degree in Third Class or HND plus a university PGD at PART F. MODE OF APPLICATION FOR UNDERGRADUATE credit level pass, (i.e., CGPA of 3.0/5.0) or 50% on weighted percentage average may PROGRAMMES be considered for admission into professional Master's degree programmes. 1.0 PURCHASE OF APPLICATION FORMS * All candidates must demonstrate adequate intellectual capacity, maturity and Candidates who chose ABUAD in the Unified Tertiary Matriculation Examination effective decision making and problem solving potentials. (UTME) are to pay the sum of N10,500 into any of the under-listed banks: 3. Academic Master's Degree Programme 2.0 CHANGE OF INSTITUTION Candidates with Bachelor's degrees from the relevant discipline of Afe Babalola 1. Candidates who did not choose Afe-Babalola University (ABUAD) in the University or equivalent of any other University approved by the National Universities Unified Tertiary Matriculation Examination (UTME) are also qualified to Commission (NUC) must obtain a minimum of second class lower division with a participate in the Post UTME screening of the University by paying the Sum of CGPA of 3.0/5.0 for an academic programme. N2,500 for change of Institution and N10,500 for the Post UTME Form into anyCandidates with at least a third class degree or HND and university PGD in the relevant discipline of Afe Babalola University or equivalent of any other University approved by of the under-listed banks:. the National Universities Commission (NUC) with CGPA of 3.0/5.0 may be considered 2. Admission into ABUAD for Non Direct Entry Candidates is subject to for admission into academic Master's degree programmes. successful passing of the UTME Examination and the Post-UTME screening. PART J. DURATION OF POSTGRADUATE PROGRAMMES: Candidates awaiting SSCE results or its equivalent can also apply for admission a. Postgraduate Diploma Programmes 2 Semesters – Full Time provided the result will be available at resumption in September, 2016. 3 Semesters – Part Time b. Master of Science Programmes UNDERGRADUATE PROGRAMME ACCOUNT NUMBERS 3 Semesters – Full Time Skye Bank Plc 1770775995 4 Semesters – Part Time Wema Bank Plc 0122139765 c. Master of Business Administration 4 Semesters – Full Time Ecobank Plc 2862016620 6 Semesters – Part Time First Bank Plc 2017401566 2.

Zenith Bank Plc Union Bank Plc Diamond Bank Plc UBA Plc

1013837065 0034651222 0033828634 1015574946

POSTGRADUATE SCHOOL ACCOUNT NUMBERS Skye Bank Plc 1771572603 Wema Bank Plc 0122203662 Ecobank Plc 2862027071 Stanbic IBTC Bank 0001462435 FCMB Bank Plc 0483012036 PART G. DIRECT ENTRY/INTER UNIVERSITY TRANSFER REQUIREMENTS Direct Entry form from JAMB is required to be eligible for admission into Afe Babalola University, Ado – Ekiti (ABUAD) Direct Entry/Inter University Transfer admissions are also available for all courses listed above except Law, Medicine and Surgery, and Nursing Science. Applicants are to pay the sum of N10,500 into any of the designated Banks and obtain the application form at the University Campus in Ado Ekiti. NOTE: That Bank Tellers are to be presented along with the completed registration form(s) at the Post UTME Screening Centres. PART H. ONLINE APPLICATION FOR UNDERGRADUATE AND POSTGRADUATE Click on E-Portal on the University Website www.abuad.edu.ng OR visit

http://portal.abuad.edu.ng/utme

OR Download the Application Form for Undergraduate and Postgraduate Online on the University Website: www.abuad.edu.ng PART I. ADMISSION REQUIREMENTS FOR POSTGRADUATE PROGRAMMES: (A) Postgraduate Diploma Programmes The criteria for admission into the PGD programme will be as follows: * All candidates must have five credit passes including English, Mathematics and two other relevant science subjects at 'O' Level. * Candidates with Bachelor's degree from any NUC approved University must obtain a minimum of 3rd Class degree in the relevant discipline. * Holders of HND in relevant programmes from approved Institutions with a minimum of Upper Credit may also be considered for admission. (B) Master's Degree Programmes The criteria for admission into the Master's Programme (M.Sc.) will be as follows: 1. All candidates must have five credit passes including English, Mathematics and two

PART K. DESIGNATED SELLING POINTS FOR BOTH UNDERGRADUATE AND POSTGRADUATE FORMS MAIN CAMPUS: AFE BABALOLA UNIVERSITY [ABUAD], ADO-EKITI, KM 8.5, AFE BABALOLA WAY, ADO-EKITI, EKITI STATE. IBADAN OFFICE, EMMANUEL CHAMBERS: 80, FAJUYI ROAD EKOTEDO, IBADAN. ABUJA OFFICE: EMMANUEL HOUSE, 24, MADEIRA STREET, IMANI ESTATE, MAITAMA, ABUJA. LAGOS OFFICE: EMMANUEL HOUSE, PLOT 1, BLOCK 4, CMD/JUBILEE ROAD, MAGODO GRA, LAGOS. PORT-HARCOURT OFFICE: EMMANUEL CHAMBERS, 7, ABA ROAD, LEVENTIS BUS STOP, PORT-HARCOURT. WARRI: GREEN OCEAN MULTIBIZ, 60 ODOGUN AVENUE, NEW LAYOUT, OFF JAKPA ROAD, EKPAN, WARRI, DELTA STATE. NOTE: That Bank Tellers are to be presented at the designated selling centers for collection of Application Forms. Application Forms will also be available on the day of screening at the Screening Centre. PART L. POST-UTME EXAMINATION CENTRE The Examination Centre and Date will be communicated later PART M. INTERNATIONAL APPLICANTS International Applicants are required to forward their academic transcripts to the following email addresses; 1. reg _christieoluborode@abuad.edu.ng 2. christieoluborode217@yahoo.com 3. info@abuad.edu.ng PART N. FOR FURTHER ENQUIRIES Contact: 1. Visit http://abuad.edu.ng or send email to info@abuad.edu.ng OR 2. Send a letter to the Office of the Registrar, Afe Babalola University [ABUAD], Ado-Ekiti. OR 3. Call the following numbers: 08127772121, 08034402771, 08054300473, 08038521163, and 08033509150. PART O. IMPORTANT NOTICE. 1. Because of FRUADSTERS, Applicants should call the following contacts only 08127772121, 08034402771, 08054300473, 08038521163, and 08033509150 and do not ENTERTAIN ANY CALL from ANYBODY DIFFERENT from the Phone Numbers listed above. 2. Applicants should use the designated bank accounts above as payment made into any wrong or fraudulent account is at the applicant's risk.

Signed

Lady Christie Oluborode Registrar

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Cultists attack OPC member for ‘committing adultery’

Taiwo Jimoh

en suspected to be cult members have attacked and injured a 42-year-old man, Adewale Omotosho, a member of the Oodua Peoples Congress (OPC), at Shimawa, Ogun State. Omotosho was accused of sleeping with the stepmother of some members of the cult group known as Golden Star. It was gathered that about 10 suspected members of the group, led by the stepchildren of the woman, attacked the victim on Monday with dangerous weapons. Omotosho said he and his wife went to a friend’s house in the community when he was attacked. He said: “We were still waiting for the person we went to see, when the woman I was accused of sleeping with came without greeting me. I even joked with her when she did not greet me because she is the wife of a popular chief in the community. “After I asked her why she did not greet me, she left. Immediately after that, I saw about 10 young boys, who are cult members in the community. They pounced on me and beat me to stupor. They attacked me with machete and I sustained injuries. My wife was not also spared from the attack. “I was still writhing in pain

Muritala Ayinla

agos State Government yesterday said that it would begin to defend husbands who were being battered by their wives. The Commissioner for Women Affairs and Poverty Alleviation, Mrs. Lola Akande, who disclosed this, said government would not only protect married women who were victims of domestic violence but also men. According to her, government created the Ministry of Women Affairs and Poverty Alleviation to address domestic violence and alleviate poverty because women are usually mistreated by men. But she said that since there were increasing cases

Anifowoshe

Omotosho

when some residents, who know me as a member of OPC, rushed to call my colleagues who came and took me to the health centre where I was treated.” Omotosho said the matter was reported at Ogijo Police Division, while some members of OPC were said to have sustained injuries when they tried to rescue their colleague from the cult members. Among the OPC members, who sustained injuries, is Kehinde Anifowoshe. “My colleagues and I were

trying to rescue Omotosho who was in pain, when the cult members, who had gone before, reinforced and started throwing stone and broken bottles at us. I was trying to defend myself when the broken bottles hit my hand,” Anifowoshe said. The Shimawa OPC Coordinator, Mr. Sunday Adeniji, said the allegation against Omotosho was a lie. He said: “The different cult members in the community saw us as a thorn in their flesh,

because we always frustrate their operation. On a slightest provocation, they attack us in order to project us as a bad organisation in the community. “We are law-abiding citizens. Immediately after the incident, we went to police station to report the matter because we are peace-loving group in the community.” When contacted, the state Police Public Relations Officer (PPRO), DSP Muyiwa Adejobi, promised to get back to our correspondent.

abiodun.bello@newtelegraphonline.com 08023938212

73,664 abandoned patients, destitute get succour Muritala Ayinla

agos State Youth and Social Development yesterday said it had treated 73,664 cases relating to abandoned patients, babies, destitute and HIV/AIDs counselling in the last one year. Speaking at the ongoing 2016 Ministerial Press Briefing to commemorate Governor Akinwunmi Ambode’s one year in office, the Commissioner for Youth and Social Development, Mrs. Uzamat Akinbile-Yussuf, said 31 abandoned babies and 1,340 beggars, destitute and mentally-challenged persons were rescued from the streets of Lagos within the period. Akinbile-Yussuf said that 150 rape cases were also recorded while 1,228 people were rehabilitated. The commissioner, who addressed the briefing jointly with the Permanent Secretary in the Ministry, Hakeem MuriOkunola, disclosed that 31 babies, 19 females and 12 males, abandoned by their parents were rescued and given the necessary attention. She said: “The Child Protection Unit is responsible for the rescue/referral of all abandoned babies and ‘lost but found’ children in the state to registered orphanages and homes. “It also carries out child audit on the registered orphanages in order to conduct a case review of the children in the homes with a view to decongesting the homes and discouraging institutionalisation. A total number of 31 babies (19 females and 12 males) were rescued during the period under review.”

We’ll defend men beaten by wives –Lagos of men now seeking the dissolution of marriage owing to frequent beatings from their wives, government would rescue men from onslaughts from their wives. Addressing journalists at the ongoing 2016 Ministerial Briefing of her ministry, Akande said the ministry was not established to protect women alone. But, according to her, men hardly come out to report the challenges facing them in their marital homes. She said: “We are not out to protect women alone, men are also welcome. In fact, the government is ready to defend them. It is true that men

are now becoming victims of domestic violence because I have listened to a report where men are saying that their wives beat them and molest them. “The tradition is that man beats a woman. It is just that men don’t come forward to report that their wives beat them. If we have any man who can be bold enough to say it, we will defend him. It is true now that some women are now undergoing ‘Kong fu’ training.” Akande disclosed that government recorded 382 e-mails on Domestic Violence and 553 phone calls, while 234 cases L-R: Commissioner for Information and Strategy, Mr. Steve Ayorinde, Mrs. AkinbileYusuf and Muri-Okunola at the event. were treated.

METRO

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

I stole cables to augment my salary –Suspect

The suspects

Taiwo Jimoh

29-year-old man, Lucky Odagu, has been arrested for allegedly stealing Light Up Lagos project cables from the company where he works. Odagu, a casual worker with Electra Company, located at Oshodi, was arrested along with Aminu Umar (38), Oteje Alaba (28) and Magaji Isa (41). The suspects were arrested by operatives of the Rapid Response Squad (RRS), while allegedly attempting to sell the cables at Ogudu Ojota area of the Lagos metropolis. The police said Odagu was coming from Oshodi, with a 35-metre long armoured cable from the company handling the ‘Light up Lagos Project,’ when he was arrested around 2p.m. last Thurs-

day. The alleged members of the gang, all denied knowing Odagu stole cables from his company. They also denied being Odagu’s accomplices. Recollecting how he was arrested, Odagu said: “Yes, I took the cables from our company to sell. I wanted to augment my salary. As a casual worker, the company pays us N1,000 every day. But the money is only enough for my transport fare from Ikorodu to Ikoyi on a daily basis. I took the cables to sell, so that I could have money for transport fare. “I didn’t know the cables would land me in trouble. I thought they were remnants left behind in the company. I sold the cables for N5,000 to scrap dealers. I was taking the second cable to sell to buyers when RRS operatives at Ogudu

Junction arrested me.” Stating his own side of the story, Umar said: “I don’t know anything about stealing of cables. The cables were brought to me to buy. I deal in scrapped materials. On Thursday last week, I received a phone call from the Federal Special AntiRobbery Squad (SARS), Ikeja, that my brother, Isa, had been arrested. When I got to FSARS office at Ikeja, I was asked if I knew that the cable my brother bought was a stolen one. “When I eventually saw my brother, I asked him if the cables before us were those he bought from the suspects, he said no. My brother cannot speak English. Police should police forgive us. We didn’t know the cables were stole ones.” Another suspect, Alaba, said: “I don’t know Odagu from Adam until he came to my father’s bar to drink. He told me he worked with the company handling the Light Up Lagos project. One afternoon, I was at home when he called me to come to their office at Ikoyi. But immediately I got to their office, I received a phone call that my wife had been delivered of a baby. I returned to see my wife and the baby at the hospital.” Alaba explained that the following day, he called Odagu and told him that his wife had a new baby and was in the hospital. Odagu promised to assist him financially. Odagu also reportedly asked Alaba to meet him at Agric at Ikorodu, where he gave him N2,500. A few days later, policemen located and arrested Alaba.

Dickson’s ex-aide arrested over N10m bribe E

Don-Evarada

conomic and Financial Crimes Commission (EFCC) has arrested Mr. Abnedgo Don-Evarada, former Senior Special Assistant on Media to Bayelsa State Governor, Seriake Dickson. Don-Evarada was arrested on Monday in Port- Harcourt, Rivers State for allegedly offering a bribe of N10 million to the EFCC Zonal Head in Port- Harcourt, Mr. Ishaq Salihu. The suspect, according to Head, Media and Publicity of EFCC, Wilson Uwujaren, ran into trouble when he approached Salihu over a case involving the Senior Special Assistant to the Bayelsa State governor on Millennium Development Goals, Apere Embelakpo and his

wife, Fiene Beauty. Uwujaren said Embelakpo was being investigated for alleged diversion of N800 million being funds meant for the Millennium Development Goals (MDG), while his wife was being investigated for alleged money laundering, forgery and suspicious transactions to the tune of N200 million. Don-Evarada, according to the EFCC spokesman, offered the bribe ostensibly to compromise the agency investigation but his overture was turned down while he was arrested. Uwujaren said the suspect was being kept in the custody of the EFCC and would be charged to court as soon as investigation was The money concluded.

City Briefs

Two held for stealing bridge reinforcement steel

Nwankwo and Omeoha

Muritala Ayinla

fficials of the Rapid Response Squad (RRS) yesterday arrested two men, Godwin Nwankwo (23) and John Omeoha (23), for allegedly stealing railings of the First Mainland Bridge otherwise called Carter Bridge. The arrest of the suspects came on the heels of the parade of a commercial driver, who was picked up for stealing bridge railings at Ijora. Activities of the vandals are generating concerns among residents over the safety of the bridges, as the railings and reinforcement beams and panels are being stolen. But Nwankwo and Omeoha, who were arrested while bringing out 17 bars of reinforcement meant to firm up the bridge from a manhole, said they were desperately hungry and there was no alternative means for them to get money. Nwankwo, who also confessed that he entered the manhole twice to steal railings last year, also disclosed he passed over the hole several times and he was curious to find out what was there. He said: “This year, I have entered the hole four times. From the money I made from those sales, I have saved N5,000 in my bank account to assist me to travel out of Lagos. Yesterday, I went there again. I invited my friend, Omeoha. We stole 17 bars which we planned to sell to scavengers in order to raise funds. “Unfortunately, just as we were bringing out the metal from the manhole, RRS operatives sighted us and arrested us. My plan was to raise money to enable me relocate back to Enugu, where I repair handsets before coming to Lagos. I want to leave Lagos because my life has been meaningless here. “I broke my waist while working with a gas pipeline laying company in Lagos. That was where my problem started. I spent two months in hospital. When I was discharged, I was advised not to do hard work. So, the easy way out for me is to scavenge for a living. That is why I need to move out of Lagos.

Police kill suspected kidnapper

18 jailed for drug peddling

Uchenna Inya

ABAKALIKI

olice have rescued a kidnap victim who was abducted at Umuoghara quarry site in Ezza North Local Government Area of Ebonyi State. Gunmen in police uniform had invaded the victim’s shop and pretended to be looking for someone. When they saw the victim whose name could not be immediately ascertained, they immediately abducted him. Confirming the incident yesterday, the state Police Public Relations Officer (PPRO), ASP George Okafor,

said the hoodlums took the victim and demanded N30 million ransom. He said: “The hoodlums kept the victim in a hideout at Umuoghara and demanded N30 million ransom which they later reduced. “The ransom was taken to where the kidnappers said it should be dropped but policemen had cordoned everywhere. “So, the police opened fire on them and killed one of them. The victim was rescued unhurt.” Okafor noted that one of the policemen, who engaged the kidnappers in gun duel, sustained injuries and was currently receiving treatment at an undisclosed hospital.

ABAKALIKI

ational Drug Law Enforcement Agency (NDLEA) yesterday said it had arrested 43 males and four females for drug peddling and other drug-related offenses in Ebonyi State. Briefing journalists at the command headquarters at Ntezi in Ishielu Local Government Area, the state NDLEA Commander, Raph Igwenagu, said the arrests were made in the first quarter of the year. Igwenagu, who spoke through the Public Relations Officer (PRO), Mr.

Silas Orji, said 18 people were jailed while 15 were counselled. He said the command had taken possession of about 170.500 kilograms of different types of drugs, including cocaine from suspects. The commander said in a bid to reduce the menace of drug abuse and trafficking, the command had been carrying out sensitisation programmes to schools and other institutions across the state. Igwenagu added that the command was able to record notable successes through strategic surveillance, synergy with other sister agencies, vigilance groups and regular patrols.

NEWS | national

wednesday, APRIL 27, 2016 NEW TELEGRAPH

£9.53m

The annual salary of Bastian Schweinsteiger of Bayern Munich in 2014/2015. Source: Paywizard.co.uk

New PIB suffers setback as Senate suspends debate Chukwu David Abuja

T L-R: Minister of Health, Prof. Isaac Adewole; Sokoto State Governor, Aminu Tambuwal and Minister of State for Health, Dr. Osagie Ehanire, at the Nigeria Medical Association's Annual Conference in Sokoto …yesterday

IGP to AIGs, CPs: Arrest petrol black marketers

Emmanuel Onani Abuja

he InspectorGeneral of Police (IGP), Mr. Solomon Arase, has ordered Zonal Assistant Inspectors-General (AIGs) as well as Commissioners of Police (CPs) in charge of State Commands and the Federal Capital Territory (FCT) to, henceforth, arrest sellers of petrol in jerry-cans, otherwise called black marketers. A statement signed yesterday by the Force Public

Appolonia Adeyemi

New American research has found that fructose consumption could alter and potentially damage hundreds of genes in the brain. Fructose, a natural sugar found in many fruits, is consumed in significant amounts in Western diets . This commonly consumed sugar is found in sweetened drinks, syrups, honey, juices and industrially made desserts. According to a University of California, Los Angeles (UCLA) news release, "A range of diseases — from diabetes to cardiovascular disease, and from Alzheimer's disease to attention deficit hyperactivity disorder— are linked to changes to genes in the brain." As such, the team study team recommended that people should reduce their sugar intake and increase the amounts of DHA, though the latter is not considered "a magic bullet for curing diseases." DHA omega-3 is found throughout the body, but is most abundant in the brain, eyes and heart. In fact, DHA represents about 97 per cent of all Omega-3 fats in the brain and 93 per cent of all Omega-3 fats in

Relations Officer (FPRO), Mrs. Olabisi Kolawole, an Assistant Commissioner of Police (ACP), said the IGP's directive followed the danger associated with the illegal act. The statement also quoted Arase as warning petrol attendants, to stop dispensing the products to black marketers, who use jerrycans for purchase. "Concerned by untold suffering as well as hazard emanating from the activities of black marketers, especially those who sell petroleum products inside plastic containers/ jerry-cans, the...IGP...has

directed all Zonal Assistant Inspectors-General of Police and FCT/State Commands Commissioners of Police to arrest anybody found selling petrol and other petroleum products in plastic container. "The IGP, who issued the directives in Abuja on Monday, said apart from the hardship this act is causing to fuel buyers, it has also rendered some innocent and law abiding citizens homeless due to fire outbreak from jerrycan petrol storage. "He noted that fuel products such as petrol

are highly flammable and if not stored and not handled properly, can seriously endanger people, property and the environment." The IGP, who warned against selling petrol in gallons, said "both the buyers and the sellers of the products will be arrested and prosecuted under the law." While assuring the public of the readiness the Police to fulfil its constitutional mandate, Arase appealed for a more cordial relationship between the Force and the public.

Fructose could damage your health

the retina in the eye. DHA accumulates both prenatally and post-natally in infant brain, eye and nervous system tissue. A team of scientists from the University of California, Los Angeles (UCLA) studied the effect of fructose on the brain. Synthetic glucose-fructose syrup, made from corn starch, is also added to a host of industrially made products for large retailers. Fructose occurs naturally in fruit but the accompanying fiber slows down sugar absorption. The researchers analysed the impact of fructose on rats, who had been taught to escape from a maze. The rats were randomly split into three groups. Over a six-week period, one group was given water with a concentration of fructose equivalent to around one litre of soda per day in humans. The second group was given fructose water accompanied by a diet rich in omega-3 fatty acids. The third group was given plain water and an omega3-rich diet. At the end of the six weeks, the rats were sent

back into the maze. The group given fructose water and no omega-3 took twice as long to get out of the maze than those given water only. This suggests that fructose may have impaired their memory. The rats given fructose water and a diet high in omega-3 showed results similar to those given water only. The researchers, therefore, suggest that omega-3 could counteract the negative effects of fructose.

What's more, the higher blood glucose levels, triglycerides and insulin levels found in the first group of rats are linked to a higher risk of obesity and diabetes in humans. Among the 20,000 genes studied in the rats, fructose altered more than 700 in the hypothalamus- the part of the brain that controls metabolism and over 200 in the hippocampus- which helps regulate learning and memory.

Ojukwu’s son praises late Braithwaite Wale Elegbede

ebe Ojukwu, the first son of late Dim Chukwuemeka Ojukwu, has said that the relationship between his father and the late Dr. Tunji Braithwaite was so cordial that his father reposed confidence in him despite coming from a different tribe. Speaking yesterday in Lagos at a colloquium held in honour Braithwaite, Debe, who is legal practitioner, said as his father’s lawyer, Braithwaite never betrayed the late leader, adding that he was a trusted ally of his father, who

was hired to defend any form of injustices. Setting the agenda for the gathering, the coordinator of the colloquium, Prince Ajibola Oluyede, stated that the late elder statesman made indelible footprints in politics, spiritual, legal, constitutional, among others. According to Debe: “My father (Ojukwu) had three identifiable Yoruba friends that look physically identical. The first is Engr. Fashola, an uncle to former Governor Babatunde Fashola; Wole Soyinka and Dr. Tunji Braithwaite."

he New Petroleum Industry Bill (PIB) yesterday suffered a setback as the Senate suspended debate on the bill midway on the excuse that copies of the bill were not circulated. The bill, which would have passed Second reading, however, faced stiff opposition by senators predominantly from the southern part of the country, who insisted that copies must be available for members to study, in order to make meaningful contributions to the debate. Midway into the lead

debate by sponsor of the bill, Tayo Alasoadura (APC, Ondo Central), senators started murmuring; a situation that forced the Senate Minority Leader, Godswill Akpabio, to raise a Point of Order for personal explanation. Akpabio argued for copies of the bill be circulated to all senators to study ahead of formal debate so that they could make useful contributions. President of the Senate, Bukola Saraki, who presided over the session, ruled that the debate be stood down to Wednesday, asking Alasoadura to ensure that the financial compendium was attached to the bill.

'Kalu not arrested by EFCC'

he Orji Uzor Kalu Media Centre has debunked a false, nasty report that surfaced on some online portals that eminent businessman and former governor of Abia State, Dr. Orji Uzor Kalu, has been arrested in Abuja over the matter that the Economic and Financial Crimes Commission (EFCC) has instituted against him. In a statement issued by the centre and signed by Mrs. Rubby Obinna, the centre said the makers of the lie were selfish, insecure and intimidated by the tremendous support and goodwill that Kalu enjoys from far and near. The statement reads: "Our attention has been drawn to a disingenuous report in some online portals that Dr. Orji Uzor Kalu has been arrested in Abuja over the matter that the Economic and Financial Crimes Com-

mission (EFCC) has instituted against him. "We wish to state downright that the publication was not only nasty, but also intended to send a wrong signal to millions of friends, followers, family members and business associates of our principal that are around the world. "We believe that the makers of that lie were selfish, insecure and intimidated by the tremendous support and goodwill from far and near that Kalu enjoys. The abhorrence of Kalu by the minute mischief-makers was because of the upright man he is. "We hereby call on the public to forget-about the deceptive information as Kalu is going about his normal business and had said that he had nothing to fear in the case with the EFCC," the statement said.

G-77 Senators move to resolve budget impasse Chukwu David Abuja

irst time Senators numbering 77, operating under the umbrella of G-77 senators, yesterday in Abuja, disclosed their resolve to tackle the present stalemate on the 2016 Appropriation Bill by Friday this week. The group, led by the minority leader of the Senate, Senator Godswill Akpabio, also said that its main objective was to deepen democracy and good gov-

ernance in the country as well as sanitize and project the image of the Senate. The group, while addressing journalists, also debunked the allegation published in some national dailies that it was working against President Muhammadu Buhari. It further said that the protracted controversies over the 2016 budget was embarrassing to the nation, stressing its commitment to resolve the crisis as soon as possible, to enable President Buhari to sign it into law.

WEDNESDAY, APRIl 27, 2016 NEW TELEGRAPH

Zoning PDP at crossroads

Politics

Parliament Furore over appointment of N'Assembly clerk

12 15

Saraki: Political solution splits APC Members of the ruling All Progressives Congress (APC) are divided over comments credited to the party’s National Chairman, Chief John Odigie-Oyegun, on the trial of the Senate President Bukola Saraki at the Code of Conduct Tribunal. Johnchuks Onuanyim reports

lthough no one can say what would be the outcome of the trial of the Senate President Bukola Saraki at the Code of Conduct Tribunal (CCT), the National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun has stated that his removal as Senate president and replacement by an opposition senator would not be too much, a sacrifice for the change mantra of the party. To Chief Odigie-Oyegun, the removal of Saraki as Senate president would not have any implication on the APC as the party manifesto ab initio is anchored on the fight against corruption. For Oyegun, there is no sacrifice too big for the party to make for the change it believes in. Oyegun is of the opinion that the President Muhammadu Buhari or the party has no right to intervene in court procedure. The APC national chairman, while answering question on a possible political solution to Saraki’s ordeal, said: "We don’t take anything for granted. As they are planning, we are also planning. The situation is under control. The whole situation is unfortunate but it is real. What political situation in a legal matter? Are the judges politicians? The president is certainly not the type who will interfere in a judicial matter. I think we know him well. Everybody must know him. Things must be done normally. And that is part of the

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Odigie-Oyegun

change mantra that we must play by the rule, so that we don’t truncate processes.” He added: “People don’t seem to internalise what change is. If the president says “court, free that man,” the same president can say “court, imprison that man.” Is that the Nigeria you want? No! Change means allowing the law to take the proper course. I can tell you the president won’t interfere. The President is straight definite, straight and firm in all facets. I don’t think we will lose the position of Senate president. But sometimes, for change to take place there is price you have to pay. So losing the position may be sacrifice for change.” Senator Saraki is facing criminal charges at the CCT for false assets declaration. His ordeal started when he disobeyed the party and emerged as the Senate president against the preferred candidate of some leaders of the party. His trial has been described by his supporters and some chieftains of the APC as politically motivated. Among those with such views is a former National Secretary of the Peoples Democratic Party (PDP) and now a chieftain of the APC, Alhaji Abubakar Kawu Baraje. He believes that if Saraki did not contest for the leadership of the National Assembly, he would not have been facing the trial he is facing at the CCT. Baraje, who was a permanent secretary in Kwara State, when Saraki was governor further stated that the removal of Saraki as Senate president is likely to spell doom for the APC as the opposition senators are likely to take over

Saraki

The trial of Saraki is not misplaced as what is good for the goose is also good for the gander

the leadership of the Senate and by extension, the National Assembly. The Senate president is the leader of the National Assembly. “If the Senate president, Bukola Saraki is removed from office, the PDP is likely to take over the Senate presidency and deputy,” he said, suggesting that the APC should approach the issue the way the PDP handled the defection of former Speaker, House of Representatives, Hon. Aminu Tambuwal. He said: "The PDP episode with Tambuwal is still fresh in history. The PDP then didn’t throw the baby away with the bath water, knowing fully well that such move will be counterproductive. It was well managed and Tambuwal remained the Speaker under the then PDP. “Our party may loath the ways of PDP, but out of every bad situation and experience, there are atoms of goodness, and every visionary leader will separate the chaff from the corn and take what is good out of it. So, it is not as if the Senate president has gone against his party.” Baraje is not alone in this view. He was corroborated by the Acting National Publicity Secretary of APC, Comrade Timi Frank, who also described the trial of Saraki as political persecution. Like Baraje, Frank warned the APC on the implications that the number three citizen in the country and a leader of the party is being prosecuted and the party is being indifferent. He said: "I sincerely hold the view that the current trial of Saraki is not only undeserved, but amounts to paying a good man

with evil. I also want to say that the leaders of our great party have unfortunately remained quiet in the face of evil. “I don’t believe we have forgotten that the victory of the APC during the last general elections could not have been possible without courageous strategists like Saraki who lent their political weight in favour of the APC at the risk of their own lives and personal survival. “I don’t think we have forgotten how Saraki as a Senator in the 7th Senate brought the attention of Nigerians to the fraud perpetrated by the last administration in the name of fuel subsidy. I recall how Saraki led five other governors of the PDP into the APC, a development that successfully turned the political tide against the PDP and eventually tipped the electoral scale against them during the 2015 general elections.” But there are some members of the ruling party, who disagreed with those arguing that Saraki’s prosecution has political under tone and as a result should have political solution. To the party's spokesperson in the South-East, Mr. Osita Okechukwu, justice should be allowed to its course. He said: “I understand the sympathy of the fact that our friend, the Senate president is at the tribunal. There is nobody who would not be concerned about it. Some people belong to the school that alleges that Mr. Senate president wouldn’t have been tried, if he did not become the Senate president; that there are other senators, ministers and other public officers who have one skeleton or the other in their cupboard, I am not disputing that. "But don't forget the manifesto of the APC. I am a member of the Merger Committee and also member of the Manifesto sub-committee. War against corruption was our first cardinal programme and if we don’t block all these loopholes even if oil is sold at a $1,000 per barrel, we are not going anywhere.” Some other political pundits also believe that the trial of Saraki is not misplaced as what is good for the goose is also good for the gander. According to them, the former National Security Adviser, Col. Sambo Dasuki rtd, former Chief of Defence Staff, Air Marshal Badeh and many others are facing trial for corruption without the president intervening, so there should be no exception. No doubt, nobody or political party should be looking at what it stands to lose in the fight against corruption because what it stands to lose in allowing corruption would be higher as it is an established fact the problem with Nigeria is corruption and the solution to the problem would be a total war against the menace.

POLITICS PLATFORM

Ex-governors must leave cabinet for Buhari to succeed – Ezugwu Secretary General of the Conference of Nigerian Political Parties (CNPP), Chief Willy Ezugwu, in this interview with Felix Nwaneri, points way forward for the Muhammadu Buhari administration What is your take on the state of the nation vis-à-vis the promises of the All Progressives Congress (APC)-led government? Barely a year into the administration of the APC-led Federal Government, Nigerians have been subjected to an untold hardship. The regime has nothing to show for the almost one year it has been in office except hardship and more hardship across the country despite the change mantra. It has also shown that it is insensitive to the plight of Nigerians. This is occasioned by its policy decisions that have inflicted serious economic injuries on already impoverished Nigerians. Such policy decisions of the present government include its insistence on implementing a 45 per cent tariff increase at a time power generation has dropped to zero level. I cannot agree less with the president of the Nigeria Labour Congress (NLC), Ayuba Wabba, who insisted that the 45 per cent electricity tariff increase was illegal, unfair, unjustifiable and a further exploitation of the already exploited Nigerians. But some of the administration’s supporters believe that the government has performed creditably well in the area of war against Ezugwu corruption. The image of the regime will remain tainted with corruption, unless the former governors serving in President Muhammadu Buhari’s cabinet are removed, notwithstanding the anti-corruption war of the administration. So, for the president to succeed in his change agenda, all former governors in his cabinet must be sacked to create room for technocrats to run his government if he must succeed. You will recall that some of the former governors left their states with empty treasuries, leading to the bailout loan by the Buhari administration just to enable their successors pay salary arrears of their workforce. And recent developments have shown that these states were so indebted that the bailout fund was not enough to settle the salary arreas left by these same governors, who are now calling the shots as ministers. So, it is imperative that Mr. President relieves the former governors of their positions and appoint technocrats to give his administration a fresh face. The 2016 budget is yet to be assented to

5 Questions

by the president despite its passage by the National assembly. What is the way out of the impasse over the money bill? If the executive and legislature cannot find a solution to the country’s budget, it then means that the country is in trouble. Accusations of the budget missing from the coffers of the National Assembly to padding and now, mutilation of projects, shows that those in power are not ready for governance. It also means that Nigeria is still at crossroads, and that there is no solution yet to our problems. It equally means that those in government have no business being there. They are insensitive to the indescribable economic hardship the policies of this government has inflicted on the now impoverished Nigerians. I must also say that it is legislative rascality for the National Assembly to ask President Buhari to send a supplementary budget to cover the CalabarLagos rail line project without telling us the source of its funding. Our legislative contractors are still thinking of old ways of siphoning government funds, which explains why they injected frivolous projects such as boreholes, purchase of tricycles and road projects without designs into the budget even when they know that such projects fall under local government responsibilities. But the government has enjoined Nigerians to exercise patient as the damages of 16 years cannot be fixed within one year. How much has the government done to alleviate the inexpressible suffering and inexcusable economic discomfort Nigerians are currently experiencing in the midst of abundant human and natural resources as a result of the government’s inconsistent policy decisions? In case the APC is unaware, it is the integrity of Mr. President that is still sustaining the regime, but how far such goodwill will take the administration is very uncertain, considering the present economic realities. It is still on this note that I insist that Mr. President should urgently rejig his cabinet by putting square pegs in square holes, rather than a situation where appointees were assigned critical and highly technical portfolios that have no relevance whatsoever to their academic qualification or professional expertise. This will save Nigeria further economic anguish. What is your take on the president’s foreign trips, which his supporters say is paying off positively? The frequent travels of President Buhari abroad in the quest for foreign investors will amount to an effort in futility as no investor will entrust his hard earned resources to bad managers.

WEDNESDAY, APRIl 27, 2016 NEW TELEGRAPH

The recurring albatross of the Peoples Democratic Party (PDP) is back. Over time, the party’s Achilles heel has been zoning. This time, the tussle is about where the national chairmanship seat should be zoned to ahead of the May 21 national convention. WALE ELEGBEDE writes on the intrigues and agitations by the forces in the leading opposition party

Zoning:

or the discerning, the current tussle over who leads the Peoples Democratic Party (PDP) from May 21, is not about the seat of the national chairmanship in itself, but the struggle for the party's presidential ticket for the 2019 general elections. Expectedly, the tussle is taking its toll on the party that barely over a year ago handed over power to the present administration. The leaders of the party in the South are pitched against those in the North, just as the party's serving officials are locked up in battle with ex-serving officials. Although the report of the Governor Udom Emmanuel-led zoning committee for the convention has not been made official, feelers from the sittings of the committee indicates that the position of the party’s national chairmanship seat has been zoned to the North-East. Predictably, the decision of the committee which has members in the persons of Governors Ayodele Fayose of Ekiti State as deputy chairman; Ifeanyi Ugwuanyi (Enugu), Okezie Ikpeazu (Abia), Ifeanyi Okowa (Delta), Darius Ishaku (Taraba) and Nyesom Wike (Rivers) ruffled many feathers, even amidst the committee members. At one of its meetings, the committee had to adjourn indefinitely. It was gathered that while the likes of Fayose, Wike, Senator Buruji Kashamu and a section of some lawmakers are behind the succession plan of Sheriff, the likes of Ondo State governor, Dr. Segun Mimiko, who also doubles as the PDP Governors Forum chairman, Governor Ibrahim Dankwanbo of Gombe, Prof. Ben Ayade of Cross River State and the Bayelsa State governor, Seriake Dickson, are strongly opposed to the intended transmutation by Sheriff. For political analysts, the argument is clear, the party presently has no sitting president who would have been the leader of the party. In his stead, the national chairman of the party is the custodian of the party’s values and power. If Sheriff succeeds himself, he would have handed over to himself the party structure and the choice of who picks the party’s presidential ticket in 2019 might largely be at his whims and caprices.

Sheriff

It was gathered that at the committee’s meeting that took place in Uyo, the Akwa Ibom State capital, the national chairmanship position was purportedly zoned to North-East and Deputy National Chairman to South-South. The unofficial report also said SouthWest is to retain the position of National Secretary, and the North Central has been penciled down to produce the mooted deputy national chairman position . The position of National Publicity Secretary, presently occupied by the South-East, is said to have been zoned to South-West while that of National Woman Leader goes to North-West. The North Central will produce the office of National Treasurer while the South-East has been penciled down to produce the National Organising Secretary. The report of the zoning committee is subject to the approval of the party’s National Caucus, Board of Trustees (BoT) and the National Executive Council (NEC). It is gathered that the committee is under intense pressure to change its earlier stance and move it to either North-West or South-West before presenting its report to the National Caucus With threats of dumping the party and holding a parallel convention should Sheriff succeed himself, the committee is said to be mooting the idea of tweaking its earlier position of North-East for NorthWest or South-West. According to a source privy to happenings within the committee, “the way it is going, the zoning committee might reverse itself especially with the heated opposition against the initial stance of the committee. I think that will be ratified in

CROSSFIRE These communal clashes are very delicate issues and what the government is doing is working very silently to ensure that people who used to live together before without any conflict will go back to that -Lai Mohammed

Several killings cannot be going on in the open and the federal government says it’s working silently, it is unfortunate that that statement is coming from the federal government of Nigeria -Yinka Odumakin

WEDNESDAY, APRIl 27, 2016 NEW TELEGRAPH

PDP at crossroads

George

Kashamu

few days, don’t forget that the committee was not given any timeframe to turn in its report.” Speaking in Lagos last week at the forum of leaders of the PDP in the South-West, former Deputy National Chairman of the party, Chief Olabode George, said it was time the national chairmanship of the party comes to the zone, contending that the zone had a lot of qualified minds that could occupy the seat. "Out of all the six geo-political zones in our great nation, the Yoruba heartland is the only zone that has not enjoyed that revered position since 1999," he said. The Board of Trustee (BoT) member urged the leaders to brace up and ensure that Yoruba occupy the national chairmanship seat of the party in the coming national convention, even as he called on the interim national chairman, Senator Ali Modu Sheriff to honour his word both in handing over a vibrant, vigorous and more competitive party. “I want to appeal to our interim Chairman Senator Ali Modu Sheriff to honour his word both in action, in gestures and in practical testimonies. He is a midwife of the

new dawn. He is being positioned to manage our party through the present challenges so as to emerge as a vibrant, vigorous and more competitive organisation. The midwife cannot transform itself into the position of the mother of the child! These are separate and distinct responsibilities. It is morally wrong. It is ethically unacceptable! "The path of honour, the path of glory is for Senator Sheriff to play the role of a neutral arbiter. He should stand above the fray and play the role of a statesman. That is the only way he will stand on the positive side of history," he said. In his speech at the forum, the former presidential spokesman, Dr. Doyin Okupe, read out from his phone, the list of past chairmen of the PDP and concluded that the Yoruba race has been widely relegated by not leading the party since the formation of the party in 1998. "Since the commencement of this party, when the president comes from the North, the Chairman comes from the South, and that was why PDP was strong because it offered a platform where every zone has even access of representation. But it has started turn-

POLITICS PLATFORM ing negative now and the time to resist it is now. "Maybe, I could sound selfish, for me, if this is where God says my political career will end, glory to Him. I am grateful to God with how far I have gone. We need to have urgent consideration, Yoruba is no slave to anybody. There is no family without bastard, but we cannot because of bastards in our midst spoil the destiny of the genuine children. "The argument is this, give the North chairman to pacify them and make the party strong. But if the party is destroyed in the North, it is because the Northerners who are party members allowed it to be destroyed. If our brothers did not stand firm for a Southern President, it is their fault. They cannot now be beneficiary of the process they did not keep well," he said. Also, the Ex-Ministers Forum, led by a former Minister of Special Duties, Tanimu Turaki (SAN) and Secretary, Suleiman Abubakar (exMinister of National Planning), has opposed the planned succession by Sheriff with some of them threatening to quit the party should the chairmanship be zone to the NorthEast and eventually produce Sheriff, who is from the zone. Not ready to have a thought about the zoning of the seat to his zone, Kashamu, who has been at the forefront of argument that the chairmanship position should be retained in the North at the expense of the South, said: “We were and are still of the view that given the strong presence of the PDP in the South, with 10 governors out of 17 governors in the South and just two governors in the 19 states in the North, it would make more sense to leave the national chairmanship of the party in the North, so as not to be branded a regional party.” As the mind games continue, the questions agitating the minds are, will the party suffer another infraction that brought about factional group? Could this arrangement alter the party’s initial resolution of zoning the 2019 presidency to the North? What are the latent reasons for pushing Sheriff for chairman? Would the zoning committee reconsider their initial stance? Clearly, the zoning arrangement has pitched some governors against other members of the party, including some members of the Board of Trustees, (BoT). Although the stalemate and indefinite adjournment of the zoning committee depicts that all may not be well, but how this will be resolved will be predicated on how the various interests are ready to shift grounds.

POLITRICKS

Hotel to the rescue Who wants ex-gov dead espite having a house of The hotel is like a house and t is love gone sour for former wife and daughter, has resorted his own in Ikoyi and an- office to the ex-minister. He also Igovernor in one of the south to eating from food vendors. His D other one belonging to his receives visitors and keeps sev- western states following the reason is that they are planning wife in Lekki, both in Lagos State, a minister who served in General Sani Abacha’s regime has deliberately made a specific hotel in Victoria Island his permanent abode any time he is Lagos. The former minister, who is a chieftain of the Peoples Democratic Party (PDP) hails from one of the South-West states and any time he is Lagos, he usually lodge for days in a particular hotel in Victoria Island.

eral appointments at the place despite having his office less than one kilometre to the hotel. In fact, for him to be comfortable at the hotel, the ex-minister on many occasions is usually at the hotel with his wife, driver and cook for special services. Until he settled permanently for his present abode in Victoria Island, the ex-minister in the last two years usually lodged at five stars hotels in Ikeja areas.

frosty relationship between him and member of his nuclear family. The exgovernor is presently at war with his wife and daughter over frivolous allegations and the war of attrition in the family has hit the affairs of the family as centre can no longer hold. Investigation by Poligist revealed that the ex-governor who has lost trust in members of his close family, especially his

to kill him. He even told close associates that they have made attempt to poison him in the past but failed. The ex-governor seem not to be taking the threat against his life with levity and that is why he cautious in relating with some of his close family members. As it stands, the family war may affect the goodwill the ex-governor has built over the years if urgent steps are not taking to resolve the crisis.

POLITICAL NOTES

Investiture and disclaimer drama he news of the decoraT tion of the Deputy Senate President, Ike Ekweremadu,

as an Anti-Corruption Ambassador by the Economic and Financial Crimes Commission (EFCC), brought with itself mixed feelings, depending on the side of the divide the assessor belongs. Decorating the Deputy Senate president, the EFCC Liaison Officer to the National Assembly, Mr. Suleiman Bakari, was quoted to have said: “On behalf of my acting chairman, Mr Ibrahim Mustafa Magu and the entire management and staff of the EFCC, I decorate you (Ekweremadu) as an Anti- Corruption Ambassador and formally present this frame as a token of our appreciation to your person and office, and as a symbol of the institutional partnership between the EFCC and the National Assembly.” However, a twist to the adornment changed the narrative and a combustible rebuttal was issued by the anti-graft agency through its spokesperson, Mr. Wilson Uwujaren. The commission said: “The EFCC totally dissociates itself from the purported action of Bakari as he acted entirely on his own and clearly outside his liaison officer brief as he was never instructed by [Magu] nor mandated by the management and staff of the Commission to decorate Ekweremadu or any officer of the National Assembly as ‘Anti Corruption Ambassador.” Not ready to take the quick disrobing, Ekweremadu fired back, stating that the decoration was never solicited for in the first place. He described the anti-graft agency’s statement of brutal denunciation as baffling, inexplicable, and contradictory. While the exchange appears interesting, there are few questions waiting for answers. First, who induced the award? Is it the Deputy Senate President, his aides, Bakari or an unseen hand within the EFCC running things? Secondly, what does the EFCC meant by corruption fighting back? Is there something the anti-graft agency knew about Ekweremadu that is hidden from the rest of us? Has the commission ‘disciplined’ the erring officer? Is the EFCC compromised? Who wrote the speech? For Ekweremadu’s supporters, the withdrawal of the decoration has denied them of an owambe celebration and the addition of a new Aso Ebi to their wardrobes, but as the Deputy Senate president puts it, ambassador or no ambassador, life continues for him as a lawmaker.

WALE ELEGBEDE

POLITICS

Hon. Rotimi Agunsoye is a member of the House of Representatives representing Kosofe Federal Constituency in Lagos State. In this interview, he speaks on the 2016 Budget and National Assembly. TEMITOPE OGUNBANKE reports

What is your take on the fuel scarcity across the country? The problem of fuel scarcity did not start last year May 29; it has been there before. It is very easy to destroy but to build is difficult. One thing I can assure the people is that within the next few months, the problem would be reduced and later solve permanently. But by the end of this tenure, I know the problem will no longer be there. The problem was caused by the past government and I can’t really blame them because you can only give what you have. The past government performed to the best of their ability but the present government will take us to a greater height by the special grace of God. So, I will appeal to our people to take it easy and believe in the government of Muhammadu Buhari. His integrity is his collateral and at least we can all see that he means well for this nation. It is one nation; the Yoruba, Hausa and Igbo are one. Nigeria would be 56 by October 1 but we are just learning how to crawl, let alone how to walk. But I know that by the special

WEDNESDAY, APRIl 27, 2016 NEW TELEGRAPH

Nigerians should believe in Buhari – Agunsoye most Nigerians are suffering? Talking about the issue of jeep, I am not in the Senate; I am in the House of Representatives and I don’t really know what is going on there. I am concern about what is going on in the House of Representatives. But the two houses are together to ensure that we move Nigeria forward and by God’s grace, Nigeria will move forward.

How do you see the drama that surrounded the 2016 budget? I see no drama in the House over the budget. I see no drama in the executive but from the press I can see drama. The National Assembly has done its bit about the budget, so let us wait for the president to act on it. Why did you choose to celebrate your birthday few days ago with a cleaning exercise in your constituency and empowerment programme for your constituents? I decided to celebrate my birthday with empowerment programme and cleaning exercise because I believe in my people, who sent me to Abuja to represent them in the House of Representatives. I dedicate the day to all my constituents and to those that lost their lives in the North-East geo-political zone in the hands of Boko Haram sects. We should believe in the people who we serve, knowing fullywell that service to humanity is service to God and I know that there is a time and season for everything under the sun; a time to plant and a time to harvest, a

Agunsoye

grace of God we serve, we will walk before end of this tenure. What is your view about the Senate buying expensive jeeps when

Agriculture as alternative to oil Philip Nyam

WEEK

BILL OF

THE

ur bill of the week is an Act to regulate commodities future trading in Nigeria, provide for the establishment of the commodities future trading commission and for other matters 2016, sponsored by Hon. Uzoma Nkem-Abonta (PDP, Abia). The bill seeks to make provisions for the regulation of the commodity market in Nigeria and for the establishment of the Commodities Futures Trading Commission as the apex regulatory agency. The benefits According to Nkem-Abonta, commodity exchanges will be of immense benefits to farmers, agro-commodity processors and merchants, as it will serve as a veritable platform for them to mitigate the inherent risks in agricultural production and marketing. The enlarged market for agricultural produce, which the ASEC will engender, shall promote commercial farming and the growth of the

agricultural sector. He said: “The economic benefits of commodity exchange include the appropriate pricing of commodities with many potential buyers and sellers competing freely, commodity exchanges provide efficient means of determining the best price level of commodity and thus provide incentives for productive activities in such sectors as agriculture and mining whose products are traded on such exchanges. This is unlike in unorganized markets where producers may not get economic prices for their produce especially when there is glut.” Other benefits according to the sponsor are risk management: that is, the market will provide producers, processors and users of commodities with a means of passing the price inherent in their businesses traders who are willing to assume these risks. It will also improve financing terms. By reducing price risk, commodity exchanges enhance the credit-worthiness of commercial enter-

prises in their relationship with banks. This enables such producer’s access to loan and at lower interest rates and may result in higher profits for the farmers and possibly lower prices for the end users. If the bill is passed into law, it will help in dissemination of market information. Since commodity exchanges are national or worldwide in scope, they will act as collection and dissemination centers for statistics on supplies, transportation, storage,

The economic benefits of commodity exchange include the appropriate pricing of commodities

purchases, exports, imports, currency values, interest rates and other important information that may be useful for other future productive activities. The law will also provide for effective protection of market participants. According to the lawmaker, trading in a commodity market is normally subject to specified rules and regulations, which all market participants must comply with. The use of clearing house also ensures that all transactions are settled as at when due, thus assuring adequate protection for all market participants. Marshaling out the need for this bill, the sponsor posited that “Nigeria is known to be traditionally dependent on agriculture for the sustenance of her economy. Nigeria was known as the world’s largest producer of oil palm, she also made giant strides in the production of commodities like groundnut, cocoa, rubber, and various oil seeds. Currently Nigeria is known as the world’s largest producer of cassava, yet not the larg-

time to be happy and a time for sober reflection, a time to cry and a time to laugh, a time to be born and a time to die. We should give glory to Almighty God; the maker of heaven and heart, who in His infinity mercy has give us life because it is only the living that can praise God. The dead has nothing to do but to continue to sleep. My people and I decided that today should be chosen to clean our environment and put smiles to the faces of our people. In term of putting smiles on the faces of your people, what are you offering your constituents? The empowerment is the third face. During the first phase, we gathered 200 unemployed youths and the programme is still ongoing. The second phase is about building skill acquisition centre to 50 women and the project is also ongoing as well. So, for the third phase, we are giving grinders to so many of our people. We are also giving sewing machines to the artisans and also tricycles to our people as well. That is just what we can do for now. Don’t forget that I am just a legislator. I am not in the executive. We are doing this to complement the effort of the silent achiever governor of Lagos State, Mr. Akinwunmi Ambode. We are giving out over 150 sewing machine and grinders and also six tricycles. If others can do what we are doing in all the constituencies in the country, the problem of our people would be alleviated. est exporter of cassava.” The Commodities Futures Trading Commission The contemplated Commodity Futures Trading Commission (CFTC) is intended to be an independent agency with the mandate to regulate commodity futures and options markets in Nigeria. In the words of the sponsor, “the commission will assure the economic utility of the futures market by encouraging their competitiveness and efficiency; protect market participants against fraud, manipulation, and abusive trading practices, and by ensuring the financial integrity of the clearing process.” The commission will consist of a chairman and two full time commissioners as well as other part time members of the commission drawn from relevant statutory ministries of government, as well as a Director-General. About the sponsor Hon. Uzoma Nkem Abonta is a lawyer by training and represents Ukwa East federal constituency of Abia state on the platform of the PDP. He was first elected into the House in 2007 and has since been re-elected twice. He is the chairman of the House committee on Public Petitions and sponsored the highest number of bills during the 7th Assembly.

POLITICS

WEDNESDAY, APRIl 27, 2016 NEW TELEGRAPH

Saraki

The appointment of Alhaji Mohammed Sani-Omolori as acting clerk to the National Assembly penultimate Wednesday has pitched Senate President Bukola Saraki against the National Assembly Service Commission. PHILIP NYAM reviews the development

he politics that characterised the appointment of Clerk to the National Assembly is almost synonymous with the election of presiding officers in the parliament. Ordinarily, public service appointments are based on merit, competence, and federal character principle. However, when it involves management staff, it becomes a serious political game. Hence, the National Assembly being the hub of politicking cannot be insulated from entrenched political interests and high wire scheming and manouvre. Last Wednesday, the National Assembly Service Commission (NASC) announced the appointment of Alhaji Mohammed Sani-Omolori as acting clerk to the National Assembly to succeed Alhaji Salisu Maikasuwa, whose retirement from service takes effect from August 2016 but would be proceeding on terminal leave in May. Expectedly, the decision of the NASC, did not go unchallenged as the chairman of the National Assembly and president of the Senate, Bukola Saraki, almost immediately wrote to the NASC chairman, Dr. Adamu Mohammed Fika requesting for the reversal of the appointment, alleging noncompliance with due process. Although, the National Assembly Service Act, 2014 explicitly empowers the NASC to make appointments and discipline staff without recourse to any authority, the senate president, in his letter submitted that he and the Speaker of the House of Representatives were “misled” and “misinformed” by the commission in carrying out the assignment. Section 6 (8) of the

Maikasuwa

Fika

Furore over appointment of N'Assembly clerk NASA 2014 states that “in exercising its powers to make appointments or exercise disciplinary control over persons, the Commission shall not be subject to the direction or control of any authority or person” Perhaps, there is another law requesting the Senate president and speaker of the House to approve the appointment before it takes effect. If not, the Senate president would not have written to the chairman of NASC, asking him to cancel the appointment for further “consultation”. The opposition coming from a highly placed personality like the Senate president has left a lot of questions begging for answers. Are there conventions and traditions outside of the NASA 2014, which the commission did not observe in making this appointment? Where exactly did the commission fall foul of the law? Is the Senate president trying to use his office to influence the appointment of a particular candidate? Is he acting in national interest and with a clear conscience? Of course, the NASC chairman, Dr. Fika is also a renowned and revered bureaucrat and would certainly not be oblivious of his duties and limits as the executive chairman of the commission. While the commission appointed Sani-Omolori, the Senate president is making case for the acting deputy clerk to the National Assembly (DCNA), Mr. Benedict Efeturi. So, who is right in this unfolding scenario? NASC’s position Perhaps, the NASC had envisaged that the appointment would evoke some hue and cry, it posits reasons before issuing the letter of appointment to Sani-Omolori. Hence, the NASC’s in a memorandum by its executive chairman to the 440th meeting of the Commission on Wednesday, April 20, explained copiously why it settled for the clerk of the House to succeed the outgoing clerk to the National Assembly. The NASC in the memo stated that the appointment of SaniOmolori was properly carried out adding that Saraki’s preferred can-

didate, Mr. Benedict Efeturi has less than six months in service and therefore not suitable. According to the NASC, both Efeturi and Sani-Omolori were appointed into the clerk cadre on the same date of March 25, 2010. The memorandum states “That Mr. Benedict Efeturi, who presently act as the deputy clerk to the National Assembly will also proceed on his three months terminal leave on August 2, 2016, days before the end of the current clerk’s terminal leave. “That it is neither expedient nor in conformity with convention and practices of the Service for an officer who has less than six months left to retire from the service to act in a higher office” “That Mr. Mohammed A. SaniOmolori, the present clerk of the House of Representatives who therefore remains the next most senior officer in the services of the National Assembly will remain in service till 2021” Saraki’s letter Just a day after the meeting and the subsequent approval of the appointment, the Senate president reacted via a letter dated April 21 and signed by his Chief of Staff, Senator Isa Galaudu. The Senate president, said the appointment did not follow due process. He posited that the commission should have first considered Efeturi and not Sani-Omolori, for the position to replace Maikasuwa. The letter read, “The President of the Senate and the Speaker of the House of Representatives were informed that Mr. Efeturi was not considered for the appointment because he was not duly appointed as Deputy Clerk of the National Assembly. “On further enquiry, we found he was duly appointed by the National Assembly Service Commission vide Extract from Minutes of its 403rd Meeting held on Friday, 21st November, 2014. “From the foregoing, you have misled and misinformed the President of the Senate and Speaker of the House of Representatives.

“Consequently, I am directed by His Excellency, the Senate President, to inform you that the letter appointing Mr. Sani Omolori as Acting Clerk of the National Assembly, be withdrawn immediately for further consultations.” Residual issues Taking a look at the act establishing the commission, section 14 (5) states that “in exercising the power to make appointments pursuant to the provisions of section 4 and 14 of this Act, consideration shall be given to seniority, cognate experience, competence or federal character”. Records available show that both Efeturi and Sani-Omolori are mates’ consideration their experience in service. Both of them were promoted clerks on March 25, 2010. While Efeturi was made clerk of the senate, Sani-Omolori was assigned to the House. However, Efeturi eventually became the DCNA. Is the DCNA higher than the clerk to the House and senate? Although, there is no doubt that both officers are competent and that explains why they were all elevated to the rank of clerk to the two chambers. Efeturi is however older than Sani-Omolori by age and while the former has just six months to retire from service, the later has five years to stay on. But if federal character is the yardstick, Efeturi may be on a disadvantage. He is from Delta State in South-South and the current clerk of the Senate is also from Delta state; as well as the deputy clerk of the House. This may have also informed the decision of the commission not to consider Efeturi because if he were to be appointed, Delta State alone would be occupying three out of the six topmost positions in the National Assembly. Sani-Omolori on the other hand hails from Kogi State in the North-Central. Can the NASC reverse itself on this appointment or would it stick to its guns? Will the Senate president press further should the commission refuses to rescind its decision? The picture will be clearer in the next two weeks.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Opinion

CCT chairman: Guilty as charged? TREASURES BOLA BOLAWOLE turnpot@gmail.com 0807-552-5533 (sms only)

hairman of the Code of Conduct Tribunal, Justice Danladi Umar, has himself been accused of corruption. The CCT is currently conducting the high-brow trial of Senate President Bukola Saraki over allegations of falsification as well as anticipatory declaration of assets to the Code of Conduct Bureau. Umar has pleaded his innocence to allegations by a litigant that he demanded, and received through a proxy, bribes to pervert the course of justice. The Economic and Financial Crimes Commission (EFCC), he said, had investigated the allegation before now and cleared him (Umar) of culpability. The EFCC, in newspaper reports, appeared to have corroborated what Umar said. Regardless of the alleged clearance, this case, still, is worrisome. Not long ago, we had a similar instance of allegations of mind-boggling corruption against the erstwhile boss of the EFCC itself, Ibrahim Lamorde, which, we believe, is still undergoing investigations. Both, we have been told, are cases of corruption fighting back. What this means is that those accused of corruption will not go down quietly but will cling to all manner of straws to survive. They will try to delay justice and eventually pervert it to escape punishment. We have seen this in operation in the battery of defence lawyers usually amassed by the accused and the genius as well as not-so-genius technicalities employed by them to frustratespeedy and judicious trial. Another way corruption fights back is by trying to surreptitiously or frontally tilt public opinion against the government in support of the corrupt. Subtleties, guiles, and guises

are masterfully employed here. These include sophistries as well as blatant media attacks on the anti-graft war, using all manner of platforms and excuses. Then, of course, we have the “attack is the best form of defence” method in which the battle is taken directly to the agencies and personalities saddled with the onerous task of accosting and bringing the corrupt to justice. Here, the hunter becomes the hunted as spirited efforts are made to also open their own cans of worms.” If you Tarka me, I Daboh you” – remember? Or something like the political soap opera involving former President Olusegun Obasanjo and Vice-President Atiku Abubakar: “You are corrupt”, said one; “You are more corrupt than me”, replied the other! It has been said that if we do not kill corruption, corruption will kill the country. Nigeria already has been flattened by corruption. Resuscitating and rescuing it from the clutches of corruption is never going to be an easy task; yet, this is a task that must be done, to borrow a quote from the Civil War years. Virtually nothing works in this country today because of corruption. Values and virtues have been thrown to the dogs and impunity of the worst order reigns supreme. Humongous amounts of money are embezzled, leading to yawning gaps in the delivery of much-needed services. Deficits and deficiencies in infrastructure everywhere gaze at, and daze, us. Gaping holes are burrowed into government coffers everywhere and at every turn. It is like corruption itself has become the only national industry that thrives in the midst of crippling economic crisis. The anti-graft resolve of the Muhammadu Buhari administration cannot, therefore, but be a welcome development. We must, however, recognise that finding men and women of integrity to fight the war will be hard to come by. Corruption has not only permeated but has eaten deep into the fabrics of our society. Finding men and women of impregnable integrity, like biblical Samuel, will be hard to come by. Biblical Israelies, even by God’s own account, were a difficult-to-please people, always murmuring not only against their leaders but

Those accused of corruption will not go down quietly but will cling to all manner of straws to survive

also against God Himself; yet, they had nothing against Samuel. But should we choose to wait until we find our own Samuels before we fight corruption, nothing, I dare to say, will be done. The most sensible thing to do, then, is to proceed with the materials at our disposal – but without compromising the standards of integrity and probity. Applied to the case of the CCT chairman, the allegations of corruption against him need not truncate the on-going trial of Saraki; at the same time, the allegations must not be swept under the carpet. It must be investigated thoroughly and appropriate measures taken, without fear or favour. From what I could glean from newspaper reports, a prima facie case, as the lawyers would say, has been made for a more thorough and convincing investigation into the allegation(s) against Umar. From newspaper reports, there was confirmation that the bribe in question was demanded and received. There was confirmation of who received the bribe and the relationship of the alleged bribetaker to the CCT chairman was not in doubt. The bribe-taker was said to have made conflicting statements, as a result of which the EFCC found it difficult to link the bribe to the CCT chairman and, therefore, decided to charge the alleged bribe-taker alone with the offence. We live in Nigeria and we know how such things work; witness the on-going revelations from the ONSA bazaar. Why are people calling for the head of ex-President Goodluck Jonathan even when none of those accused has specifically mentioned Jonathan’s name? It is because we know how those things work here. And the reports also said something like the CCT chairman having improper contact with the litigant who made the allegation. A judge, like Caesar’s wife, must not only be above board but must also be manifestly seen to be so. Scripture warns that we flee from every appearance of evil. Perception is very important here. I speak for me: doubts have been created in my mind about the integrity of the CCT chairman. And my thoughts raced to biblical Elisha who was uncompromising in the way he severely dealt with his errant servant, Gehazi, who had run after Naaman to solicit and receive filthy lucre. How did Umar treat the aide in question?

Networks of pirates at Alaba International Market Oludayo Tade

ith an average production of 50 movies per week and about $590 million revenue annually, Nigeria’s film market is booming. Dubbed Nollywood, it has overcome the teething problems of the late 1980s and 1990s to become a leading film producer in the world, currently ranking second to India’s Bollywood. That the Nigerian film industry is growing is not in doubt. What requires greater attention is the problem of piracy, which has become a menace that has eaten deep into the industry and may grind it to a halt. Although Nigeria has laws against piracy, it remains a thriving business partly due to poor implementation of copyright laws, near lack of prosecution of offenders and corruption in government agencies. In July 2014, less than three weeks after the release of Half of a Yellow Sun, a film adaptation of the award winning novel by Chimamanda Ngozi Adichie, Lagos film vendors were found hawk-

ing pirated copies of the film around the metropolis. In 2015, popular Nigerian actor and award winning producer, Kunle Afolayan, was notified that his classic film October 1 had been pirated and was already being sold on Lagos streets at N500 ($3) per copy. The film had yet to recoup the two million US dollars invested in its production. Afolayan then threatened to leave Nigeria if legitimate businesses would not be allowed to thrive due to the activities of pirates. These cases highlight the menacing effects of pirates within the Nigeria film industry, which loses an estimated two US billion dollars to piracy every year. The Alaba International Market, founded in the 1970s, is located along the Lagos-Badagry expressway. It is by far the biggest electronics market in West Africa and thousands of people throng to it every day. They come from as far as Ghana, East Africa, Togo and Benin Republic. The market has a mixture of individual customers and retailers who buy in bulk to resell across West Africa. They buy a wide range of items - including computers, televisions, broadcast equipment, household appliances, video games, generators, security equip-

ment, CDs and DVDs. It is here, in the belly of the beast, that I conducted a study of the informal networks of movie pirates. I found two categories of pirates, often working together. First are registered retailers who displayed original (white face) copies of films for sale, but conceal the green face (pirated) copies in their shops. They claimed to be retailers of original Nigerian films, but use the original copies purchased legally to mass-produce “pirated” copies for sale to increase profit. The second category comprised “associates”. Officially they are appointed by the copyright owners to distribute their films. But owing to their strategic position in the distribution chain, they reportedly make secret business deals with dubbing companies. These companies dub copies without obtaining legal permission from the copyright owners. The involvement of these various stakeholders in the film industry makes fighting piracy a herculean task. In the market where I conducted my research, the presence of anti-piracy groups was no deterrent for the pirates. They still carried out their business by working with associates. These so-called associates work with the copyright owners or

with the dubbing companies contracted by the copyright owner to produce official DVDs. They are often sales girls of marketers or executive producers. This means that associates have access to original copies of new films before they are released. They sell these to the pirate-retailers, often masquerading as legitimate retailers. The pirates can therefore ensure early pirate production of original copies. They thereby hijack the market from copyright owners and make more money at their expense. Pirated copies can flood the market on the same day the copyrighted films are released into the market, the day before or the day after. Although, it is more expensive to buy from their associates, pirates are often willing to pay the extra in order to guarantee more profit. Like in any criminal operation there are those at the top who pull the strings and who make the real money. In Nollywood, the marketing bosses are often in on the scam. These dodgy bosses are sometimes major financiers of films in the Nigerian film industry. • Tade, a criminologist wrote in from Ibadan via dotad2003@yahoo.com

EDITORIAL

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

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Nigeria Army and the Zaria revelations

espite the video footage that apparently shows members of the Islamic Movement in Nigeria (IMN) hectoring Nigeria’s chief of army staff, Lt. Gen. Tukur Buratai, and his entourage, there was yet a hint of the untoward on the latter’s part. In releasing the footage, the army sought to create the impression that its officers were victims of the Shiites’ irascibility and merely acted to stave off an attack and apparent assassination of the army chief. Its officers acted with utmost restraint and that is the reason the casualty figure was just seven, the army claimed. To a large extent that was the predominant narrative. But the recent revelation that at least 347 members of the IMN were buried in a mass grave after their clash with soldiers on December 12, last year, has cast an ugly shadow on the army’s claim. The Secretary to the Kaduna State Government, Balarabe Abbas Lawal, disclosed this when he appeared before a Judicial Commission of Inquiry set up by the state government to probe the clash between members of the sect and soldiers. So the army’s release of that footage seems like a desperate ploy to cover up its misdeed particularly given how it downplayed the casualty figure and the additional disclosure by the director-general of Kaduna

State Interfaith Agency, Muhammad Namadi Musa, hinting at an attempt to suppress the truth. “I moved in company of the Commissioner of Police to Ahmadu Bello University Teaching Hospital, Zaria, to ascertain the number of bodies of which I saw and counted 156,” he told the public hearing. “At the Nigerian Army Depot, the SSG directed me to meet with Major Ogundare regarding the bodies there. After introducing myself, he refused to let me know the number. But later on, the SSG called

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There have been unflattering reports by Amnesty International

me and told me the number. “We left the Nigerian Army Depot with three heavy duty trucks and 60 young officers who escorted them to assist in offloading the bodies. From ABUTH, Zaria, five small trucks carried the 196 corpses. Most corpses were covered with black materials and they included women and children.” There have been unflattering reports by Amnesty International alleging that the Nigerian soldiers indulge in extra-judicial killings in the North-East and across other regions. The Nigeria Army have consistently denied such claims. And many Nigerians indignant at how Amnesty International often tends to dwell more on activities of Nigerian soldiers but ignores the atrocities of Boko Haram, had

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voiced support for the army. But those “repulsive” claims by the human rights group have been lent some credence by witnesses’ damning tales at the judicial inquiry which point at the disturbing verdict - an orchestrated massacre. For all we know, the casualty figure might be higher especially given that the sect’s spokesman, Ibrahim Musa, claim that more than 700 members of the movement were still missing after the clashes. Whereas Amnesty’s earlier pro-

nouncement was mostly considered irksome, its position on the army’s action in Zaria has struck a positive chord. Like Amnesty International we call for the prosecution of the soldiers responsible for those deaths. It cannot be acceptable for the army to continually treat attempts to hold it to account as insolent demands which could be easily discountenanced without qualms. Such mindset is the reason there was no sanction against soldiers who carried out the evidently punitive expeditions in Odi and Zaki Biam. It may, as a matter of fact, be argued that the absence of sanction suggests those unfortunate incidents had the tacit approval of the high command. The army’s reaction on this occasion would either reinforce

or dispel the notion that its soldiers’ action in Zaria had an official imprint. A repudiation - even if that comes as an afterthought - will be an important first step towards putting some conviction in the army’s oftrepeated line that its officers are subject to the rule of law. However, it is just as important that the outrage which the soldiers’ dastardly action has generated does not completely overshadow the obvious extremism of the Shi’ites sect and how the public had always borne the brunt of their indiscretion. There have been numerous tales of the sect members’ open disregard for the country’s laws and bullying of government agents. This happened due to the fact that the sect - perhaps on account of the immense influence of their leader and the possible electoral value that his huge following promises - has been receiving an indulgent treatment from governments over the years. Their extremism should have long been curtailed. But it should never be via the bullet except where they take up arms against the state and become a real threat to national security. At present, there does appear to have been any idiosyncrasies that could not have been dealt with by civil prosecution. Nurturing martial pride is an essential point critical to every armies’ psycho-social relation to their constitutional mandate. But it should never be upheld at the expense of human lives.

POLITICS \ INTERVIEW

WEDNESDAY, APRIl 27, 2016 NEW TELEGRAPH

PDP’ll bounce back in 2019 – Okon Cross River State chairman of the Peoples Democratic Party (PDP), Ntufam John Okon, believes that the party will regain power in the 2019 general elections. In this interview with CLEMENT JAMES, he also speaks on the controversy over the zoning of the party’s national chairmanship position to the North-East, among other issues

You have been the state chairman of the Peoples Democratic Party (PDP) for the past four years, and you are winding down to take your exit. How has it been? God has helped us so far. We have been in the process of transition and we are surely putting everything in place for a successful transition. We are working hard to bring out credible people to manage our wards, local governments as well as the state chapters. Our congress is coming up this Saturday and we are working hard to come out with those who will manage the party at the various levels. And let me say this: I am voluntarily giving way notwithstanding the fact that a lot of people still think I should continue. I have done my best for the party in the last four years and with my age; I feel I should step aside. It is not a joke to run the party for four years and this is a personal decision I have taken to leave the stage for another person. When I look at the record of my achievement, I think I should not do anything to dent that record. For instance, I have all the 18 chairmen of councils, 196 councilors, all the 25 members in the House of Assembly, all the eight House of Representatives members, all the three senators and a governor. So, I think I have performed creditably well. However, there have been a lot of challenges but God helped me overcame them all. There are speculations in the state that the up-coming congress is generating a conflict between former Governor Liyel Imoke and the incumbent, Governor Ben Ayade. How true is this? That is not true. The former governor, Senator Liyel Imoke

Udom committee going to boost the confidence of members of the party ahead of the next general elections? For now, no firm decision has been taken and what we need to do is to educate our people that PDP has always been a national party. And you should remember that until the merger, other parties were seen as being sectional in outlook. So, we have always been a national party and zoning of the national chairmanship position to the North because we already have control in the South, will make the party retain its national outlook. This however does not mean that the Ekweremadu committee recommendation will not be enforced because even if a presidential candidate emerges from the North, during the convention, the chairmanship position will be zoned to the South.

Okon

has always said he is now an elder statesman. He is no longer into politics whether at the state or national level. Remember that the present governor is a product of Senator Liyel Imoke and is from the same political family. Ayade has maintained a very cordial relationship with the party and the two leaders, as far as I know, have the best relationship so far. And let me tell you this, Imoke is not an over-bearing person and he doesn’t like meddling in other people’s affairs. So, there is no conflict between the two of them. There has been this rumbling over the proposal by the Emmanuel Udom-led Zoning Committee of the PDP to zone the national chairmanship position of the party to the North-East geo-political zone. What is your position on that? I think that when the PDP saddled the Udom committee with the assignment, given the caliber of people in that group, we all knew that the committee will be very strategic in its decision by looking at the overall interest of the party and ensuring the geo-political balance of the country. This, I think, informed the decision but don’t forget that stakeholders will also make their input eventually. For now, it is a recommendation and I think by the time the Board of Trustees (BoT), the Caucus and National Executive Committee (NEC) meet, the committee will explain why it took that decision. But the other thing is that some of us in the party want complete zoning

We have a platform to tell Nigerians that those promises APC made were unrealisable

to be done. For now, we don’t have a president, vice president, Senate president or even the Speaker of the House of Representatives, so if you do all the zoning now, what will happen after the national convention? PDP is very strong in the South-South and in the South-East and has some elements in the South-West. So to me, if we give the North, the position of the national chairman, it will create a balance because the strength of the party in the North for now is very shallow. So, whatever decision we take, these considerations have to come into play and we must realise that before or after the coming elections, another convention will hold and we can use that to create a balance should we zone the presidency to the North. So for me, since the party has always been a national party, the committee may have felt that the national outlook should be maintained. If you bring it to the South, which to some extent is dominated by PDP, you will leave out the whole of the North and I don’t think it will work that way. Having said that, we have to wait and see what the BoT, the Caucus and the NEC will say on this. Don’t forget that one of the recommendations of the Senator Ike Ekweremadu-led Post Election Committee was that the presidency should go to the North because at some point, the region felt it was being marginalised. How is the recommendation of the

Looking ahead, do you see the PDP winning the 2019 presidential election? Of course yes. PDP made a lot of mistakes and don’t forget that there was a lot of propaganda against the party by All Progressives Congress (APC). They also made a lot of phantom promises they knew they were not ready to keep. So what the PDP needs now is to get itself well organised, unite and remove crisis from its midst. There is no doubt that some individuals within the party may have made mistakes by entangling themselves with the issue of corruption but even the corruption thing is to a large extent meant to bring down some of our leaders. For instance, imagine somebody having a contract and you are prosecuting him for a contract he got? Imagine going to the length of exposing national security because you want to run down PDP? But again, Nigerians will take decision in future elections. Think of the money purportedly recovered as we are being told but at the same time going to look for loan elsewhere. One year after winning election, they still call PDP. APC had said that PDP mismanaged the economy and that they will repair it within six months, but one year is almost off and PDP still remains an issue. That means they don’t have the capacity to deliver on their promise. Remember that they hyped on every challenge that former President Goodluck Jonathan was having, making it look like they could solve them in three months or at most, six months. For instance, the Chibok girls are still yet to be rescued; fuel price has not come down and queues have continued to last at the filling stations and foreign exchange has skyrocketed. So, all we need in PDP is to return to Nigerians and assure them. Yes, we made mistakes but these mistakes can be corrected and we are ready to correct them. So, with the present lackluster attitude to governance, we have a platform to tell Nigerians that those promises APC made were unrealisable.

wednesday, april 27, 2016 NEW TELEGRAPH

Life in the city

The Mega City

Forcing them to avoid suicide

THE PEOPLE’S VOICE Fuel scarcity bites: Lagos reacts

...EXCLUSIVE LAGOS MAGAZINE

20 23

A section of the bridge

Cracked part of the bridge

The ticking time bomb

In Nigeria, Lagos is synonymous with beautiful bridges and flyovers. Due to years of neglect, most of them appear to have outlived their life spans. Today, they seem rather a blot on Lagos landscape, a threat to people’s life and property as well as a time bomb as observed by EZURIKE UGOCHUKWU

ignificantly, the number of bridges and flyovers in Lagos then and even at present were constructed to connect the mainland and Island. On other hand, they were to promote economic activities (as the economic hub of the nation) while it served as the nation’s seat of power. The Ijora Bridges and flyovers are some of the beautiful landmarks in Lagos built in the 70s. An intersection, tripartite in form, with beautiful curves like demand curve models placed on suspended pillars, the bridge connects Lagos Island (Eko) to Apapa and back from Apapa to Orile/Costain axis of the road. At a point also, it is like a triangle. The bridge is one of the major bridges in Lagos within the mainland while Carter, Eko, and third mainland are bridges connecting the Island with the mainland. Before the present outcry over the looming danger being posed by the present state of the bridg-

es, former Governor, Babatunde Fashola had closed all business activities under the bridge and planted flowers within the various roundabouts formed by the several roads under the bridge then as the state’s helmsman. A visitor or passer-by around the area, who tried to lean on any of the pillars either to recuperate from exhaustion; or for any other reason might get worried by the sound and vibration from the pillars and the earth within. It sound like the ground is at the verge of caving-in or that the pillars may fall even still as the ground around appears hard frozen. The pillars(columns) are of varying heights, some as high as

The fact that the bridge shakes does not mean it is not in good shape

27 feet and some others as low as six feet occasioned by its fluctuating slopes that is reliant on the ascension and descending degree of the bridges at each point. Some Lagosians feel the pillars on which the bridges rest on are now shaky and that the government should as a matter of urgency do something to repair the bridges. Such cries are also in tandem with what the present Minister of Works, Power and Housing, Mr. Babatunde Fashola said in 2014 as the state governor to the then Presidential Committee for Subsidy Reinvestment and Empowerment Programme (SUREP) led by General Martin Luther Agwai (retd.). He said that the Federal Government in the last 40 years has not been able to maintain all its bridges in the state. “ There are not less than 28 bridges in Lagos that belong to the Federal Government that have not been maintained in the last 40 years.” However, some other residents of the state were of the belief that there is nothing wrong with the Ijora bridge, and that the state government should approve for

Lagosians the opportunity to carry out one form of business or the other under the bridge since according to them, there are limited spaces in Lagos. Afis Shino and Taiwo Yaya, both transporters under the bridge at the entry from Orile to Apapa, do not doubt that the bridge shakes. “Not that the bridge will fall but all it does is shakes. I have been around here for more than 10 years. Whenever trailers and other big trucks run on this bridge, all the pillars will be shaking down to this ground we stand. The government needs to urgently do something about it,” Shino said. Mr. Swajudeen Dairo, who stays around Forte Oil under the bridge, ( Lilipon side of the bridge) and as well been around the Ijora bridge since 1982, said anyone who argues that something was wrong with the bridges is insensitive. “Anyone who doubts that by staying under the bridge, we are living on a ticking time bomb doesn’t know anything and has no sense. We have been here for quite a long time now. We know what the state of the bridge was and what it is today. This bridge is absolutely due for repairs. It shakes and vibrates when vehicles pass by this place, especially big trucks. It has been quite a long time I saw maintenance team here last. But they do come to fill up potholes on the bridge. “In the past, water from the bridge was being channelled and collected by a central plastic pipe that water flows from up through the pipes down into the drainages around the foot of the bridges. Today, all the pipes have either broken or fallen off, thereby allowing water to pour on all the places and on pillars without control and direction. In the past, when it

Refuse under the bridge

CONTINUED ON PAGE 22

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

LIFE \ MEGA CITY

wednesday, april 27, 2016 NEW TELEGRAPH

Forcing them to avoid suicide

Commuters on queue to access the Ojota’s pedestrian bridge

Lagosians are being compelled to use pedestrian bridges. IFEOLUWA IDOWU and ALICE AGBO report

he foot of the Ojota Bridge now looks like beehive following the recent upsurge in the number of commuters using the pedestrian bridge. The busy area has been presenting an unusual scene in Lagos since the government of the state enforced the use of the pedestrian bridges few weeks ago. A barricade has been placed in the intersection of the Ojota express road in order to stop pedestrians from crossing. During rush hours- from 5pm, queues of pedestrians trying to use the bridge gradually build up from the foot of the bridge, also from miles beyond. Typically, on one side of the road, the queue extended down to new garage, and Kudirat Abiola way, on the other side, the queue went as far as Ogudu road- all within the Ojota environ. Several traffic officials, the most visible being the Kick Against Indiscipline, KAI, officials ensure that people do not cross the expansive express road. A stationed Black Maria vehicle used to arrest pedestrians was on one side of the road, daring people to cross, and those who dared to do so, were immediately arrested. Other government agencies enforcing laws in this area include Police officers and some private security officials addressed as bouncers owing to their hefty and fierce appearance. The bouncers were seen seated within the two-sided barricade in the intersection of the road, acting oblivious and in dare-devil manners to all going-on around them. Immediately a person crosses the road, he is quickly nabbed by these men. Lagosians complained bitterly as the traffic built up into a large crowd towards the early evening

Pedestrians on the bridge

and thicker as night approached during the visits of our correspondents to the scene. In typical Lagos fashion, the traffic on the bridge which led to people practically shuffling as they moved forward was unsatisfactory. What started as a single lane of each side, progressed into a two, three then four lane on the narrow bridge. Soon, the narrow bridge got narrower as one side got blocked, and people kept trying to outsmart one another to get off the bridge which led to a chaotic human traffic flow. As the queue got longer around the bridge, arguments broke out at intervals as people tried to jump lines. Several individuals expressed their dissatisfaction at the situation of things. Mr. Saheed Osunkeye, a marketer, said the he was amused by the turn of things. “I do not know why the government has decided to put us through this type of stress, but for whatever reason it is, this is unfair. I experienced this same situation yesterday on my way home from work. I was so scared to come this way this morning because I did not want to get to work late. I have been on this queue for some minutes now. This is not logical and it makes no sense,” he said. Joseph Ajibola, who spoke with

This is not logical and it makes no sense

New Telegraph, said that he had no choice but to pass through Ojota route. “If I had my way, I would have gone through another route. Believe me, I was on the queue for 20 minutes the previous day before I was able to use the bridge. It is not a pretty situation and I would have said that I hope the government would do something about it, but as you can see, it is the government that is even creating the problem. The bridge is narrow, I simply do not understand what the government is trying to achieve by putting us through this lane. Normally, people would have crossed but a lot of people were arrested yesterday. So, that has put the fear of God into them. This same experience happened to me at Cele bustop, close to Oshodi. I saw people getting arrested for crossing the road, including an old man. My question to the government is; what provision has been made for aged, disabled and people with heavy baggage?” Akpan Emmanuel, a trader, who sells clothings at the Ojota market, spoke with New Telegraph, explaining that the situation led to lower sales for him. “The queue started from Ogudu expressway to the bridge. The crowd was so much that most of us could not

display our goods for security reasons. People also did not patronize because they were tired and stressed up. I do hope that something is done about his very soon.” Ayodele Oyegoke, a business operator at the Ojota market, told New Telegraph that although his business was not affected, he did not think that what the officials were doing was logical. “Even if the government officials were enforcing the use of pedestrian bridge, the current situation of things calls for extra and quick measures. As the queues were so long, it would have cost nothing that every 20 minutes, the officials stopped cars on the road and let people cross. This would have made a lot of sense and reduced the length of queues. It is unfair that people are forced to queue for a long time just to use this narrow bridge.” A KAI official, who asked to be anonymous told New Telegraph that the reason for the enforcement of the law was that it has come to the notice of the government that people die on the Ojota express road regularly and the cause of this could only be that the pedestrian bridge was not put to use, hence the enforcement. “At least, one person dies weekly along the Ketu -Ojota expressway. This came to the notice of the government and they enforced the use of the pedestrian bridge. It was put in place on Sunday and enforced on Monday. If people do not use the bridge, the government will not know that it cannot accommodate people. Therefore, when people use it, then the state government will know what to do. All of these are for safety of the people. The story of KAI officials arresting people that did not cross the road is false and a rumour. Our job is to enforce laws placed by the government and give feedback to the government. People have to go through this to let the government know that the bridge is narrow, so that another can be put in place. It is the right of the people to complain about the queues, while it is our duty to give feedback to the government,” he CONTINUED ON PAGE24

LIFE \ MEGA CITY

wednesday, april 27, 2016 NEW TELEGRAPH

Engr. Onikoyi

Construction workers working on the drainage on Durojaiye Street

The ongoing construction of 114 roads across Lagos Metropolis is a welcome development to many residents of the state. But to those whose houses are located on the road setbacks and drainage alignment, it is a different ball game entirely. MURITALA AYINLA reports

o many residents of Obele/ Oniwala Estate Development Association in Surulere Local Government, the speedy completion of the ongoing road projects in their neighbourhood is the most important change they crave for in the current administration. They are less bordered about the fuel scarcity frequently experienced in most parts of the country or the illuminating streetlights mounted on the streets and major roads across Lagos metropolis. The presence of the Rapid Response Squad vehicles and personnel at strategic locations of their council doesn’t really entice them as having their roads fixed and electricity restored timely. While these residents deeply appreciate the fact that Governor Akinwunmi Ambode-led administration considered their road; Durojaiye and Michael Ogun Streets for construction, as part of the 114 roads undergoing construction and re-construction across the 57 Local Governments and Local Council Development Areas, they still want the government to appeal to the contractors handling the project to speedily complete the road construction with some logistics that will serve as pallia-

One man’s meat

tive measures to the current inconveniences the road construction has brought to them. Ambode had ordered the commencement of mass road construction and rehabilitation across the councils in fulfilment of his campaign promises. But out of several roads begging for attention in the area, the Michael Ogun/Durojaiye Streets as well as Aralile roads were the two critical roads selected to be reconstructed in Surulere by the Surulere Local Government. Interestingly, the road projects are to be handled by the local government, who were given the privilege of selecting the two roads in the mass road construction project which flagged off simultaneously across the state in January. Hence, it was gathered that the choice of the Michael Ogun/Durojaiye road is very strategic in the sense that it connects directly to the Lagos University Teaching Hospital, without having to go through Itire which is a long distance. The length of the road is 600 metres and was awarded to Olag Nigeria Limited with specifications which included covered drains, walkway and street lights. Beaming with smiles as she relaxed in front of her house, 64-yearold Mrs. Christiana Emela, commended the state government for considering her street for face lift. Emela, who lives in a government quarter, located at Durojaiye Street, Obele Oniwala community in Surulere area of Lagos, told this reporter her smile stems from road construction, which according to her, will end the suffering of almost a decade. She said that the community had been faced with persistent dust, especially during dry seasons. She gleefully said, “We are happy for this road construction because for long, dust wanted to kill us. We are proud that when

This road used to be bad and partially flooded when it rains

this road is completed, our plight will be over. We thank the Surulere Local Government for this project. This road used to be bad and partially flooded when it rains.” For Ezekiel Emela, a businessman, the road project would open the community for more business opportunity and enhance the living standard when completed with streetlights and covered drains. “This road has been so dusty and bad for a very long time. It is only during the rainy season that we have respite when the rain will abate the dust. The construction of this road is a good development,” he said. But in spite of the enthusiasm and the joy of having a newly constructed road to replace a potholeridden and dusty street, some residents in Durojaiye Street appeared to have been hindering the speedy construction of the road. According to the Site Engineer of Olag Nigeria Limited, Samuel Tomori, residents in government quarters located on Durojaiye Street had built several illegal structures on drainage alignment and setback as extension of their houses. He added that the roads, which were initially constructed by the Alhaji Lateef Jakande administration in the 80s with adequate setbacks, had been largely encroached upon by the residents, who took the laws into their hands by erecting illegal shanties on the setback, thus, impeding on the road alignment. When New Telegraph visited the community, some workers were seen working on the roads. On the streets were heaps of sand and irons rods used for the construction of the drainage channels, fallen electricity poles, roofs of some illegal extension of houses which had to give way for the road expansion. Shanties, shops and illegal extension which are com-

mon feature of Lagos streets and usually erected on the setbacks were demolished to pave way for the drainage channels being constructed at both sides of the roads. It was obvious that some residents have total disregard for town planning laws as some relocated their septic tanks from the back of their houses right onto the drainage alignment while others constructed shops and other structures on the alignments. Placed on the drainage channels were wooden planks which serve as bridge to enable the residents’ access their compounds. In front of some houses were broken electricity poles which obviously make movement in out of the streets difficult. All these, according to the building engineers, are parts and signs of development, saying that for any development to take place, peoples’ way of life need to be temporarily altered until the road construction project is completed. But Tomori, the Site Engineer, said besides the location of some structures on drainage alignments, relocation of the electricity poles also slowed down the progress of work on the site. He said:”The initial challenge was the relocation of the electric poles of the entire streets. It took us like 10 weeks before getting approval from Eko DISCO. No sooner than we got approval that some residents claimed that we were erecting the electrical cables on top of their roofs. Whereas, we were only trying to ensure that there is adequate set back which will only affect their extension. They encroached on the alignment particularly those on the other side of Durojaiye Street but the residents didn’t want us to touch the extension at all. That was the reason for the publication in the media. They accused us of relocating the electrical pole on top of their roofs. We can all see that the alignment is not on their house. We didn’t encounter any problem on Micahel Ogun street and the other side of Durojaiye.” CONTINUED ON PAGE 24

LIFE \ MEGA CITY

wednesday, april 27, 2016 NEW TELEGRAPH

The tallest section of Ijora bridge from Lagos to Apapa showing the guard raill hanging in the air

Pillars of the bridge threatened by erosion C O N T I N U E D F R O M PA G E 1 9

rained, people comfortably stayed under the bridges without being drenched. Now, hardly anyone stays under the bridge whenever it rains without being soaked as all corners of the bridge leaks,” Dairo said. He further said so much noise emanates from the bridge that most of the expansion joints of the bridge have been blocked by sand. Government has so much work to do if they want to repair the bridges. He said that even the movement of passenger train across under the bridge area also affects the bridge. Shola Agboniyo, a staff of one of the local governments in Lagos, said the bridge vibrates, especially the one going from Apapa to Orile. Even the Apogbon/CMS bridge vibrate and make noise at their expansion joints. They are already weak and need to be changed. Government should try to do something urgently about the state of this bridge and many other bridges in Lagos before they cause more havoc.” Femi Festus, a transporter around the area and Kola Adebayo an auto-mechanic at the Lagos end of the bridge disagreed that the bridge poses danger at the moment. Festus said whether shaking or not, nothing was wrong with the bridge. “It was Fashola that came, ordered everyone out of this bridge environment. No business activity is going on here again. We sit here only to while away time. An approval is being sought from the government, and the process is ongoing. If government will heed to that, it will augur well for the people. Nothing is shaking on this bridge. There is no kind of vehicle that does not pass through this place regularly especially tanker trucks. If there is any problem with the bridge, we will not be sitting here. “There should be proper utilization of the limited land in Lagos. Government should allow us to use and pay for this place. Before Fashola forced everyone out, this place used to be a very busy area. If people are allowed to stay here, the sand escaping from around the pillars will not, as well as waterlogged portions around this place.” Kayode, who has been in the area for more than 20 years, believes the shaking of the bridge is only in the imagination of a few people who are after them leaving the bridge area. It’s only the expansion joints that make noise. A feature he said has been with the bridge for many years. “As you can see, the guard rail hanging down from the tallest flyover here (from Lagos to Apapa) was when a vehicle skidded off from there to the ground; they are not just

Sitting on a keg of gunpowder hanging as a sign of weakness,” he said. New Telegraph however observed that, though there are no serious businesses going on under the bridges anymore, there are some abandoned trucks under the bridge. And some artisans that may have defied the government orders continue to do one form of work or the other there, while some other sections were converted to prayer ground by the Muslims in the area. 7up bottling company also uses some part of it as depot and cars garage. Some of the columns (pillars) on which the bridges rest have cracked. At the base of the bridge from Orile to Apapa section, there are cracks on the short column as well as its cross beam. The metal iron used in

so much noise emanates from the bridge

building the abutments are now exposed and appeared to have greatly corroded. At the base or abutments of some of the pillars, they have turned refuse dump, meaning that there are chances of people setting the refuse on fire from time to time which could affect the pillars. Most of the guard rails on the bridges have been vandalised while some were destroyed by motorists. On the surface of the bridge, though some palliative measures may have been carried out on the bridges in recent past; the most threatening aspect is the exposed metals which identify points of joining which have now become so sharpened that one may not rule out that they could cut vehicles tyre as such cause ac-

cidents. A Lagos State Civil Engineer who pleaded anonymity told New Telegraph that the vibration and shaking of the bridge does not mean it is not good nor has technical issues with its structural design. The Engineer further explained that the aluminum railing bridges are usually stolen and used to make spoons and television antennas. She said that is the duty of security agencies to stop the theft. The engineer said that the fact that the bridge shakes does not mean it is not in good shape. It simply needs maintenance. The engineer said that no further opinions could be given as the bridge would have to be checked out first before a concrete engineering opinion could be given.

We’re not safe under this bridge –Commercial drivers Ezekiel Adesawe and Alice Agbo

t is the hope of many of the commuters and commercial riders under the popular and arguably the tallest bridge in Nigeria, that vehicles should not fall off the bridge. But their hope is very likely to be dashed considering the poor state of the

Under the bridge, Ijora

bridge, which at the moment has raised so much fear and calls have been made on several occasion to the government to repair the bridge as the popular third mainland bridge was renovated by the Federal Government during the tenure of Governor Babatunde Fashola. The bridge has continued to be in the news due to re-

cent accidents associated with it, such that vehicles fall of the bridge either as a result of the carelessness of the driver or the poor state of the bridge. A visit to the bridge recently revealed that the side railings have gone off and disappointedly, the lights on the bridge have all got spoilt for a long time without repair or replacement. This aside other factors makes the bridge very risky and dangerous to use at night. New Tele graph met with some commuters and commercial riders who frequently ply under the bridge, and they disclosed that they feel very unsafe staying under the bridge while waiting and beckoning for passengers. According to one Akeem, a commercial driver, who waits at Ijora Seven-up junction under the bridge, he expressed his fear to New Telegraph that they stay under the bridge with the fear that anything could happen to them. He said: “As we stay here every day, we are always very scared of what could happen. You see this bridge, it is no longer good as it used to be. If you look closely, you will discover that many of the side railings have been destroyed by vehicles in-

volved in accidents or removed by some hoodlums. Just recently, down the bridge, a vehicle fell off the bridge, and all thanks to God, nobody was under that area of the bridge. If not for the former Lagos State Governor, Babatunde Fashola, that sent them away then, the tanker would have fallen on them there. But we are calling on the government to please come to our aid; they should come and repair the bridge, so that those of us here under this bridge will have peace of mind that nothing will happen to us.” Another commercial driver who has been operating under the bridge for six years revealed that on many occasions, vehicles have fallen off the bridge where it will cause serious gridlock while some have led to the death of some commuters. In his own word: “It is only God that can help us; we only hope that God will not allow vehicle to fall on us here someday. The situation of this bridge has gone bad. On it, you will find pot-hole and as a matter of fact, the bridge is seriously shaking and it needs urgent repair. If any tanker or trailer speedily passes through, it makes very loud noises that always scare us as if the vehicle was falling off the bridge.”

LIFE \ MEGA CITY

wednesday, april 27, 2016 NEW TELEGRAPH

THE PEOPLE’S VOICE

Fuel scarcity bites There seems to be no respite in sight for the scarce premium motor spirit, commonly called petrol. Motorists and communiters are lamenting over the scarcity of the petroleum product. VICTOR UDDO, OLUWATOSIN ADEPOJU and ABIODUN OLOKODE capture the mood of Lagosians on the lingering fuel scarcity

‘It’s affecting my business’

uel scarcity is deeply affecting my business because I need electricity to power my gadgets. The fuel scarcity issue is really terrible because sometimes, you don’t have power supply for days and the scarcity is making my business go down because I can’t render constant services to my customers. Our government should please help us with constant power supply and ensure that the petroleum is not hoarded.

• Mr. Micheal Olanrewaju – Video Game Business Center.

Government should find solution

uel scarcity is affecting us seriously, most especially in the line of work that we do because transportation from Abbatoir where we bring meat from formerly cost N1,000. But now it costs N2, 000. It is also affecting our market as well. Those that bring cows from the northern part use diesel and when they say that fuel is expensive, diesel will also be expensive- a perfect excuse for them. The cow we used to buy for N50,000 is now N80,000 and this increment has affected the way we cut meat for customers which also make them complain bitterly. Our government should find something to do to ensure that our refining of fuel becomes effective, so that they can have something to hold unto as their achievement because next month marks one year of their tenure.

• Mr. Wasiu Olalekan – Butcher

It will be resolved soon

he fuel scarcity is not really affecting me because I adjust to any situation and as it is now, the price of goods I purchase for sales have increased which also has effect on my selling price too. My customers have no option than to buy it, since they cannot starve themselves to death. This issue of fuel scarcity is a common thing that every present government administration in Nigeria is identified with; such was the case of the previous President Goodluck Ebele Jonathan’s administration. I hopefully believe that the issue will be resolved soon. The government should adjust themselves up there and resolve the issue because we, the citizens can do nothing about it until they respond.

• Mrs. Adeyanju R. – Business Woman

We need final stop

Lagos is even better than others

I cannot say it has not been affecting me. it does but what can I do? I have to be awake very early to be on the queue for fuel. Anyway, that has been in our system for long. However, now that the situation is like this, I schedule my time to get the fuel on time. We have no other option but to endure the situation. But give the government time to do whatever they want to do. I know as time goes on, things would be back to normal. To me, Lagos State government is trying on this issue because it’s fairer in Lagos than other states as I have observed as a traveller.

• Mr. Abel Usman – Civil Servant.

My income is affected T

he fuel scarcity is really affecting me because I have to stay for long on the queue and sometimes, I go for black market which is more expensive. My passengers don’t want to pay more even if I increase the transport fare and this affects my own income as a driver. My opinion is that the Lagos State government should ensure that the agencies in charge of distribution of fuel like NUPENG and NNPC focus their attention on Lagos as a major commercial area. They should also help by making officials like the Civil Defence Corps available in filling stations in order to regulate the queue and avoid those who bribe their way into the queues while they delay those who get to the queue earlier.

• Mr. Olawale Folorunsho – Commercial bus driver

It’s getting hopeless

here is nothing we can do. If we do not queue to get fuel at the filling station, we cannot get fuel and those who do not queue are those that are ready to buy black market. Black market is times three of the normal price of fuel. Some filling stations sell their fuel at the rate of N150 to N170 instead of the normal N86.50. I couldn’t work yesterday because I did not have fuel and I have started today again. At times, we are going to queue and they are going to tell us at the end that there is no fuel. Government can help us mobilize agencies to monitor filling stations because some filling stations will have fuel, but they will decide not to sell, while some will sell as black market. The agencies can also help us to control the queue in order to prevent hooligans and even the filling station attendants that help cars that are not on the queue to maneuver their way into the filling station.

• Mr. Gbenga Ojo – Taxi driver

Lagosians are going through hard times – Yusuf T

uel scarcity issue is hectic because if you want to look at it from the transportation aspect, everything has skyrocketed. Places that commercial buses normally carry for N50 are now N100 and if the population of passengers goes up, they might take it to as much as N200. The fuel scarcity affects my daily budget negatively because it is now very high. Government should try as much as possible to find suitable channel of fuel distribution to the filling stations. They should find a solution on the situation of middlemen that go on strike which is where the problem is. If they find solution on that, we won’t have fuel scarcity again.

he fuel situation is getting worse because it is still scarce and one spends hours at petrol stations to get fuel. Lagosians have gone through hard times over this unending scarcity and the unfortunate thing is that both government and corporate bodies are not thinking of alleviating the suffering of the people.Motorists spend hours on the queue waiting for turn to buy fuel, which at times some of them may not get to buy because by the time it gets to their turn, the fuel would have been exhausted. What I expect the Lagos State government to do is to intervene by complementing the work of the Nigerian National Petroleum Corporation (NNPC) by setting up a task force agency that will checkmate the corrupt activities of the petrol stations and social miscreants popularly known in Lagos as “area boys” who have taken over most petrol stations in the state as their work stations.

• Adigun Kashimawo – Laspotech Student.

• Samuel Yusuf,-Telecommunication field sales consultant

LIFE \ MEGA CITY

wednesday, april 27, 2016 NEW TELEGRAPH

Forcing them to avoid suicide C O N T I N U E D F R O M PA G E 2 0

Some buildings on alignment

C O N T I N U E D F R O M PA G E 2 1

Meanwhile, the Executive Secretary, Surulere Local Government, Mrs. Bamidele Hussain, said that the residents were informed about the project at a stakeholder’s meeting with residents of the area and their Community Development Association, CDA on the need to reconstruct the road and reclaim the setback and alignment, with the stakeholders agreeing that the road must be constructed and illegal structures on the right of way removed. Hussain, who expressed disappointment with the allegation of erecting the pole on their roofs and demolition of their houses, said that the contractor was directed to move to site based on the outcome of the meeting, adding that residents whose houses were located on the alignment had been informed of the need to reclaim the setback and drainage alignment by removing some illegal structures as well as relocating the electric cable for proper drainage to be constructed before asphalting the road. Also speaking on the road construction project, the former Chairman of Obele Oniwala Estate Community Development Association, OOECDA, Folahan Onikoyi, an Engineer, said that initially, there were pillars in each of the houses where a building or development must not exceed. According to Onikoyi, who claimed to have been living in the community for more than 50 years, Durojaiye Quarters buildings, which extension falls on the set back, were built before the civil war, adding that the road was tarred but had become deplorable be-

One man’s meat

fore the commencement of the project. The former Chairman, however said it was improper for people to erect illegal structures on drainage alignment and road setback, saying that something had to give way for development to come to particular areas. “Some portions of the road are very bad. Overtime, people have to do some palliative measures; some will bring the rubbles from their renovated houses to fill the potholes. So, to some motorists, it was motorable and to some, it wasn’t. This is because if you buy a car of N15 million, you won’t use the road but if you using ‘Danfo’(commercial bus), you may find the road motorable.” Reacting to the demolition of some fences, Onikoyi added: “As a former Chairman of the CDA, what I tell people is that in any developmental project, the construction workers need a work space and in doing this, some fences have to go. After the construction work, the fences may come back. But what went wrong in this construction work was that they didn’t make provision for us to access our houses. He added: “If you are cutting us off, there should be a provision for me to get out of my compound since I have it before the construction. Then on the issue of light , they promised us that before they continued on the other side, light is not going to be cut off which they eventually did. But you can’t stop nature. As at the time they remounted the pole, there was light. But when it

rained, some of the poles fell. They had to cut off the light. So, the lamentation is that it is taking too much of a time to restore.” He therefore appealed to the residents to be patient, saying that the pains they are currently going through as a result of the road construction would be temporary. Onikoyi added: “The truth is that it is very easy to destroy but to reconstruct, put back things.... That waiting period is what most of us do not have. That incubating period is what most Nigerians don’t have. When issues of community are concerned, there are several people involved whose level of reasoning differs. The project is government’s program that we can’t stop; it is like a moving train.” Meanwhile, explaining the rationale for reconstruction of the road, Hussain said it was the CDA members who chose that the Michael Ogun/Durojaiye Road should be constructed due to its economic and social importance to the area. Hussain explained that before works began on the Michael Ogun/Durojaiye Road, about 80 per cent of the residents were happy with the ongoing construction of the road and wanted the council to speed up work on the roads as they were grateful to the council.

explained. Reacting to the upsurge of pedestrians on the bridge, the Lagos State Government announced, last week Thursday that an additional foot bridge would be constructed at the Ojota bus stop , to complement the existing one in order to contain the recent upsurge in usage by Pedestrians. The State Governor, Akinwunmi Ambode said so through the Commissioner for Information and Strategy, Mr. Steve Ayorinde. He said the decision arose out of the need to reduce the long time being currently spent on the queue by people using the bridge. He added that the construction of the additional bridge has become necessary after the newly erected New Jersey Wall on the median of the expressway has effectively curtailed indiscriminate dropping and picking of passengers along the highway as well as dangerous crossing of the road on foot by commuters. He reiterated that the need for the construction of the wall, which is similar to the same measure taken between Ketu and Mile 12 axis of the road is meant to reduce fatalities on the part of commuters crossing the highway and the traffic gridlock caused by commercial buses and motorcycles engaging in indiscriminate dropping and picking of passengers. While commending the orderly conduct of commuters in the usage of the bridge, he urged them to be patient with government until the new one is constructed, adding that the project is expected to be delivered within three months. Ayorinde added that the new bridge will accommodate the special needs of the physically challenged, for their ease of movement.

QUOTE

SISI EKO – Aliu Eroje

OF THE WEEK

The drop in oil prices has revealed that the one dimensional model of our political economy has outlived its shelf life. We are forced by the slump to change the architecture of our political economy. That is the challenge before us – Lagos State Governor Akinwunmi Ambode at the third annual London School of Economics African Summit in United Kingdom

April

IN NUMBERS N572M 850

Customs pupils impounds march

forworth clean Lagos of campaign contraband in Lagos

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

FCT

Business What's news Apple imports to Nigeria hits N37.27bn in 5 years p.26

Nigeria receives $1.23bn loans from AfDB

p.26

Budget logjam hurting economy

Money Economic downturn hits banks’ first quarter profits

27 28

Rates Dashboard INFLATION RATE March 2016...............................12.8% February 2016............................11.4% January 2016..............................9.6%

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

EXCHANGE RATE

(BDC as at April 22)

(Interbank as at April 22)

USD . . . . . . . . . . . . . . . . . . . . . . N320 Pounds . . . . . . . . . . . . . . . . . . . N445 Euro . . . . . . . . . . . . . . . . . . . . . . N352

l Foreign Reserves – $27.266bn as at 22/4/2016

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . N307 Euro . . . . . . . . . . . . . . . . . . . . . N224

Source: CBN

L-R: Immediate past chairman, Odigbo Local Government, Ondo State, Mr. Joseph Ikumamoyi; Chief of Staff to Ondo State Governor, Dr Bola Ademutimi; Secretary to the Government, Dr Rotimi Adelola, Chief State Head, Ondo/ Ekiti State, Benin Electricity Distribution Plc. (BEDC), Ernest Edgar; Chief Technical Officer, Engr. Ashok Acharya and Commissioner for Information, Mr. Kayode Akinmade, at the signing ceremony of an agreement between BEDC and Ondo State Government on power restoration to indebted councils held in Akure.

Persistent fuel scarcity repels equities’ investment – Operators The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

NEGATIVE SIGNALS Most investors will exercise caution since scarcity may be a symptom of a systemic problem

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Chris Ugwu

apital market operators have expressed worry over the incessant fuel shortages being witnessed across the country, saying it is discouraging investment into the nation’s stock market. The operators, who lamented the free-fall of equities prices, argued that since the current fuel and power shortages set in, the market has not recorded any significant level of improvement, rather, both foreign and retail investors have continued to lose their investment in equities. Speaking exclusively to New Telegraph, the National President, Constance Shareholders Association of Nigeria, Shehu Mallam Mi-

kail, bemoaned the current state of the market. He explained that one of the major factors responsible for the persistent lull in the market was the government’s inability to stem the tide of the fuel crisis. According to him, the current fuel and power shortage in the country has come with a chain of negative effects and lots of social and economic implications on the lives, livelihood and wellbeing of the people. He said that Nigeria has lost trillions of naira since the fuel and power crisis deepened. Similarly, Managing Director, Crane Securities Limited Mr. Mike Eze, said the market cannot be insulated from what happens in the economy. He noted that the fuel scarcity does not directly impact on the market but that the news and display on televisions of vehicles queuing at filling stations for hours to buy fuel always send negative signals to foreign investors that all is not well with the Nigerian economy. Eze said: “The ugly sights of motors on queues at petrol sta-

N1.146 trillion Being the total loss suffered by the stock market in the first quarter of this year

tions and citizens complaining of not getting fuel to buy to do their business can repel potential foreign investors and by extension discourage foreign investment in our stock market. Shortage of fuel does not only affect people, it also affects the efficient operation of the quoted firms, which are forced to buy fuel from the black market at exorbitant prices to deliver their products to customers. Such unbudgeted expenses can bring down the profits of the firms.” According to him, the fact that people are forced to be buying fuel at exorbitant price means that the money they could have been saved to invest in shares are being spent on fuel. People who are facing unnecessary expenses cannot save and don’t forget that buying shares is investment. “So, if you do not have enough money you cannot invest. The possible high rate of inflation induced by the development can escalate the cost of operations of listed firms and thus erode their profits and ability to declare dividends to the CONTINUED ON PAGE 26

‘Persistent fuel scarcity repels investment’ CONTINUED FROM PAGE 25

shareholders at the end of the year. “Also, retail investors who are unable to get money to buy fuel at the black market rate may resort to selling off their stocks to raise money to do so,” he disclosed. Also, Chief Executive Officer, Network Capital Limited,Mr. Ropo Dada, also shares similar views. He said: “Fuel scarcity is one of the pains of devaluation when in actual fact we have not officially devalued our currency. Fuel scarcity means many workers may not work optimally to earn enough income and when they are not able to get sufficient income, there can’t be savings and without savings there is no investment. “To a foreign investor, this is a sign of underdevelopment, which will certainly affect pricing of our equities. Most investors will exercise caution since scarcity may be a symptom of a systemic problem, which can impact negatively on the overall market. In summary, it will hinder investment in Nigeria,” he said. The stock market, which opened the trading year 2015 high at N11.477 trillion in market capitalisation and 34,657.15 in index at the beginning of trading on 2nd of January 2015, had closed on 31st of December at N9.850 trillion and 28,642.25 index points. This translated to a year-to-date loss of about N1.627 trillion or 17.35 per cent. Available data to this newspaper also showed that activities on the floor of the NSE during the first quarter of this year remained majorly on the downswing, as the market, which opened high at N9.850 trillion in market capitalisation and 28,642.25 in index at the beginning of trading on January 2016, closed at the end of the first quarter on March 31, 2016 at N8.704 trillion and 25,306.22 index points. This depicts a loss of about N1.146 trillion or 11.63 per cent.

Apple imports to Nigeria hits N37.27bn in 5 years GROWTH There is steady increase in demand for apples in the Nigeria due to the growing middle class family

Bayo Akomolafe

mportation of apple from South Africa and Latin America to Nigeria amounted to N37.27 billion between 2010 and 2015, New Telegraph has learnt. This depicts some 7,570.85 per cent increase within the review period. Nigeria’s imports in 2011 were 717 tons but it jumped to 55,000 metric tons in 2015.

It was learnt that the country took delivery of 169,430 metric tons of the fruit through the seaports and airports. Apart from South Africa, the fruits are being imported from Chile, Agentina and New Zealand. Chile is currently the largest exporter of apple fruit, followed by New Zealand, Argentina and South Africa. Already, global apple production has reached 81 million metric tons or 12 per cent share of the of the world’s 824 million metric tons of the global fruits produced yearly. According to a statistics by Index Mundi, a portal, which contains detailed of the country’s statistics, the importation of the fruit had been on the in-

crease since 2010. It revealed that in 2010, the country ferried some 717 metric tons; 2011, 3,538 metric tons; 2012, 16,772 metric tons; 2013, 42,225 metric tons; 2014, 51,188 metric tons and 2015, 55,000 metric tons. The statistic also noted that the 2011 importation was 392.05 per cent higher than the previous year. Also, in 2012, the importation was 375.40 per cent greater; 2013, 151.76 per cent, 2014, 21.23 per cent and 2015, 7. 45 per cent. It was learnt that due to weather conditions, Nigeria does not produce the fruit, leading to an increase in its demand in the country among the growing middle class family and the large retail outlets. It was learnt that every year,

Nigeria imports South-Africa apples between March and November. Most imports from each country come by air due to the nature of the product. However, some of the products are shipped by sea in reefer containers, packed under a certain controlled cool temperature to preserve the fruit’s life span. A research by AMI Research Group, revealed that the consumption has changed drastically over the last 10 years in United Kingdom, while the West African countries still exhibit the largest growth in consumption with 175 per cent. East Africa and South-east Asia consumption increased with 70 per cent and respectively.

L-R: Chairman, Nigerian Insurers Association (NIA),Mr. Godwin Wiggle; Commissioner for Insurance, Nigeria, Mr. Mohammed Kari; Founder, West African Insurance Companies Association (WAICA), Prof. Joe Irukwu; Representative of Minister of Finance, Mrs. Patience Oniha; President, WAICA, Mr. Ivan Ayereyiren and Executive Member, Mrs. Alice Onomake, at the association’s 38th Annual General Meeting and Education Conference in Lagos. PHOTO: GODWIN IREKHE

Nigeria receives $1.23bn loans from AfDB FOREMOST The AfDB is the first institution that has multi-state and nationwide water projects and programmes in Nigeria

Tony Chukwunyem

N Mikail

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

BUSINESS |news

igeria has so far received over $1.23billion loans from the African Development Bank (AfDB) to boost power supply, investigations by New Telegraph have revealed. The revelation comes on the heels of a recent report by Oxfam, which shows that 63 million or about 39 per cent of the country’s 170 million estimated population still lack access to safe water.

According to information obtained from the AfDB’s website, being its foremost infrastructural concern in Nigeria, the Bank’s cumulative commitment in the sector had exceeded over $1billion as at 2013. In 2014, the AfDB approved $205million as loan for urban water supply and sanitation projects in Nigeria while last year; it approved another $29.94 million for the same purpose. Indeed, only last Friday, the World Bank’s International Development Association (IDA) in conjunction with the River State government, inaugurated the AfDB’s biggest water project in sub-Saharan Africa- the Urban Water Sector Reform and Port Harcourt Water Supply and Sanitation Project. Speaking at the event, the AfDB’s Country Director, Dr Ousmane Dore, said the project was a good example of effec-

tive partnership between the government of Nigeria and the donor community. He urged other partners and the implementing agency to ensure that the project was executed in time to benefit the people of the affected local government areas. According to the AfDB, the Ibadan Water Supply 1 project, approved in 12 December 1986, was the first project supported by the Bank in Nigeria. That project provided the necessary equipment for the rehabilitation of Asejire and Osegere water treatment plants in Ibadan city. It was followed by the Ibadan Water Supply 2 project, which doubled potable water supply in Ibadan from about 122,500 m3 then to some 204,500 m3 per day. Since then, the AfDB has funded several other water operations in almost all the States of Nigeria. These include Oyo,

Niger, Plateau, Anambra, Rivers, Bauchi, Yobe, Kaduna and Taraba States. The Bank initially started with urban water projects, but now includes both urban and rural water projects in its portfolio. Commenting on the AfDB’s interventions in this sector, an official at the Bank’s Abuja office, Engineer Reni-Callie Okoro, said, “If there is any sector, which the AfDB can confidently show-case its operations in Nigeria, it is certainly in the water sub-sector. First, AfDB water projects have been the highest pro-poor projects in Nigeria, even when the Bank had not yet perfected its poverty reduction operational strategies. Secondly, no other donor has done as much in the sector as the Bank. Thirdly, the AfDB is the first institution that has multi-state and nation-wide water projects and programmes in Nigeria.”

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

fct business watch

L-R: Executive Director/Chief Financial Officer, Union Bank Plc, Mrs Oyinkan Adewale; Chief Executive Officer, Nigerian Stock Exchange, Oscar Onyema; Managing Director/CEO, Union Bank, Emeka Emuwa; Chairman, Cyril Odu; Executive Director, Capital Market, Nigerian Stock Exchange, Haruna Jalo-Waziri and Executive Director, Commercial Banking, Union Bank, Kunle Sonola, at the sounding of the closing gong/Union Bank facts behind the figures in Lagos… recently

Budget logjam hurting economy With 2016 budget trapped in the executive/ legislature political game, Abdulwahab Isa reports that there is urgent need to jumpstart the economy and save Nigerians from further untold hardship

pon presentation of his maiden budget address to the joint members of the National Assembly on the December 22, 2015, President Muhammadu Buhari was on the verge of making history as Nigeria’s President in the present democratic setting to fast track the budget processes on record time. Elated by his gesture, Nigerians, regardless of ethnic and religious divides, expressed profound joy. This was expected. For a set of people with implausible experiences about annual budget, Buhari’s timely budget presentation, a maiden one by a new administration, received maximum applauses. However, four months into the fiscal year, the hope is fading out. The 2016 budget christened ‘budget of change’ is undergoing a familiar trajectory that hallmarked past editions. The 2016 budget and its economic implication is the most discussed topic among Nigerians today.

Unpleasant beginning Shortly after the historic presentation of N6.08 trillion budgets, members of the Parliament set the stage for its debate. A snag, however, cropped up. There were allegations of padding of estimate during defence session. Ministers opposed estimates contained in the their respective budgets before the National Assembly. The controversy on budget padding, which dragged back and forth, raged for weeks, after which some punitive actions were visited on those allegedly responsible for the act by executive arm. Thereafter, the budget was withdrawn by the executive for amendment. The return leg was expected to enjoy a smooth sail. The National Assembly, on receiving the re-worked budget from the executive, passed N60.06 trillion budget in to law. The president was expected to have gone through the document sent with highlights attached by the National Assembly and append his signature, but he demanded for detailed breakdown of the budget as a pre-condition to assent to the document. The stand off marked another unfortunate chapter that has characterised 2016 budget. The legislature eventually sent the budget details to the President. But, ‘‘missing and smuggling of unfounded items’’ were spotted in the details submitted by the National Assembly to the president. The N80 billion Lagos - Calabar rail line project was among key projects allegedly removed from the budget. While the executive and the legislature budget stand off raged, Nigerians are at the re-

The president should immediately initiate dialogue with NASS, setting out the areas of concern

ceiving end of the un-passed budget. For citizens whose living condition had deteriorated due to the prevailing harsh economy, untold hardship without operating budget can only be imagined. However, while no headway has been found in addressing the 2016 budget logjam, the Federal Executive Council (FEC) has hinted of earnest preparation for 2017 budget. At its meeting last week in Abuja, the FEC approved a timetable for the preparation of 2017 budget. The motive, the body said, was to ensure that the country does not experience delay in the passage of future budgets. Experts’ Views The prolonged budget stalemate has elicited reactions from Nigerians. In an interview with New Telegraph, Lead Director at Centre for Social Justice Eze Onyekpere, advised both the executive and legislature to find a middle way approach and save Nigerians of the present untold hardship. He said: “The Centre for Social Justice believes that the most reasonable thing for the president to do is to assent to the budget bill as presented and thereafter send a supplementary budget for projects that have been left out or an amendment bill to re-programme funds in his areas of concern. In the event the president thinks that this is not the proper thing to do, he should immediately initiate dialogue with NASS, setting out the areas of concern, so as to resolve the logjam. But this dialogue must not exceed the next one week. This position

is based, inter alia, on the following facts: That we are in the middle of the second quarter of 2016 and any further delay is like laying a granite foundation for the failure of the 2016 federal budget. Time is of essence.” Besides, Onyekpere noted: “Challenges to the implementation of outdoor capital projects due to weather conditions have already set in considering that the rains are here with us. Thus, anything that speeds up the budget implementation process makes eminent sense. This is the time that the Ministry of Budget and National Planning should be focused on preparing the 2017-2019 MTEF and the background to the 2017 federal budget estimates.” Similarly, the Nigeria Employers Consultative Association (NECA) bemoaned the prolonged delay in signing and implementing the 2016 budget. The umbrella body for employers described the delay sad development given Nigeria’s bad image before the comity of nations. NECA Director- General, Mr. Segun Oshinowo, lamented the delay in resolving the controversy on 2016 budget, wondering why those responsible for drafting and passing of the budget would not complete and pass it before the beginning of any fiscal year. Conclusion Since the budget of a nation is its economic life wire, it behooves both the executive and members of the legislature to find a middle point for a truce in order to alleviate the heavy economic burden, which the budget stand off had caused Nigerians.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

BUSINESS |MONEY

The impacts of the oil price slump and the uncertainties in the economy have taken its toll on banks’ performance in the first quarter of 2016. TONY CHUKWUNYEM writes

Economic downturn hits banks’ first quarter profits

idespread predictions that 2016 would be a lot tougher for banks than the previous year seem to be coming to pass. Reason: First quarter results so far released by the country’s leading Deposit Money Banks (DMBs) generally show decline in profits and gross earnings. Zenith Bank Top tier lender, Zenith Bank, appeared to have set the tone for the kind of results announced by other banks last week when it reported a Profit After Tax (PAT) of N26.573 billion for the first quarter ended March 31, 2016, showing a decline of about four per cent compared to N27.680 billion recorded in the corresponding period of 2015. The bank also made a Profit Before Tax (PBT) of N32 billion, which was 3 per cent lower than the N33 billion made in the comparable period of 2015. In addition, the lender’s gross earnings declined by 12.3 per cent to N99.4 billion, in the first quarter of 2016, down from N113.3 billion in the comparable period of 2015. However, the bank reported a marginal 3.3per cent growth in interest income to N84 billion in the first quarter of this year from N81 billion in the comparable period of 2015. Commenting on the Zenith Bank Q1 results, analysts at FBN Capital, said PAT declined more than PBT because Zenith Bank booked a significant positive result in Other Comprehensive Income (OCI, N1.1 billion) in Q1 2015. “This year, the OCI line came in at just N147 million. Returning to profit before provisions, while net interest income grew strongly by 36 per cent to N58.2 billion, noninterest income fell 52 per cent to N15.3 billion. Relative to our forecasts, as aforementioned, both PBT and PAT surprised positively. The main drivers were betterthan-expected results on the provisions and operational expenses (opex) lines, with variances of 41 per cent and 10 per cent respectively. Although net interest income actually beat our forecast by seven per cent, the weakness on the non-interest income line (32 per cent below our forecast) proved significant,” they said. GTBank Also, Nigeria’s largest bank by market capitalisation, Guaranty Trust Bank (GTBank), announced that it recorded a 4.6 per cent decline in gross earnings to N75.39 billion in the first quarter of 2016 from the N79.02 billion it earned in the same period of last year. The lender also recorded a 6.1 per cent decline in PBT to N30.68 billion (Q1, 2015: N32.65 billion) and 3.6 per cent decline in PAT to N25.61 billion (Q1 2015: N26.56 billion). However, the bank said its net

Agbaje

interest income rose 4.2 per cent to N40.79 billion in Q1 2016 compared with N39.16 billion in Q1 2015. Net fees and commission income also increased by 44.5 per cent N16.72 billion in Q1 2016 compared with N11.57 billion in Q1 2015. GTBank further stated that its balance sheet remained strong in the period under review with total assets growing by 5.2 per cent to N2.66 trillion compared with the N2.52 trillion recorded in the same period in 2015 and customer’s deposit growing by 10.3 per cent to N1.78 trillion from N1.61 trillion reported for the first quarter of last year. Commenting on the financial results, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, Segun Agbaje, stated, “Despite a slow start in economic activity in 2016 and the extremely challenging business environment, the Bank recorded decent performance across key financial indices during the period”. He added: “We understand that there’s a lot more work to be done, we are however, prepared for the challenges and opportunities that lie ahead the 2016 financial year”. Interestingly, in GTBank’s 2016 Economic Outlook released last February, the lender had stated: “Following a weakening macroeconomic environment, depressed yields on fixed income securities, deteriorating assets quality, increase in General Loan Loss Provisioning (GLLP) from one per cent to two per cent, proposed complete implementation of Basel II and ongoing price war amongst tier-1 banks for rating 1-3 corporates, we envisage that the banking industry’s bottom-line will be negatively impacted in 2016. UBA In the same vein, another of the industry’s top five lenders, the United Bank for Africa (UBA), reported

GMD/CEO, Zenith Bank, Peter Amangbo

The first three months of this year has been very difficult for every sector

gross earnings of N54.941 billion in the first quarter of 2016, which was a decline from the N58.669 billion recorded in the corresponding period of 2015. According to the bank, net interest income rose from N30.783 billion to N34.421 billion; PBT stood at N18.083 billion, showing a decline from N18.389 billion in 2015, while PAT increased from N16.956 billion to N16.986 billion. However, commenting on the performance, analysts at Cordros Capital Limited said the bank’s annualised Earnings Per Share (EPS)) of N1.96, outperformed both their estimate of N1.40 and consensus’ N1.48. “Return on average equity (ROAE) remained at the 20 (recorded in FY’15), outperforming our forecast of 14.8 per cent. The outperformance may be attributed to positive surprises on the banks cost’s lines: interest expense (-26.4 per cent), operating expense (-1.5 per cent) and loan loss charges (57.2 per cent),” they said. The analysts noted that net interest income increased by 11.8 per cent from the previous year and was roughly in line with their estimate. Union Bank Similarly, results announced by Union Bank of Nigeria, one of the industry’s oldest lenders, showed that earnings declined by 8 per cent to N26.6 billion in the first quarter of 2016 from N29 billion in the comparable period of 2015. The bank also reported a PBT of N4.7 billion as at March 2016, which was about 6 per cent lower than the PBT of N4.9 billion in the comparable period of March 2015. However, it said that PAT jumped by 108 per cent from N2.2 billion to N4.6 billion. Commenting on the performance, Managing Director of the bank, Emeka Emuwa, explained

that if earnings from sales of non-banking subsidiaries were excluded from the comparable period of March 2015, then the earnings for the three months ending March 2016 were actually flat or unchanged at N26 billion. He also pointed out that if the profit made on non-banking subsidiaries, which Union Bank sold last year to boost its profits, was excluded then the bank’s core profit before tax was actually up 85per cent compared to the N2.5 billion made in the first three months of 2015. Emuwa noted that the 2015 profits received a N2.4 billion boost from sales of its non-banking subsidiaries. “With the sale of non-banking subsidiaries near completion, the Bank is now focused on growing and delivering results through its core banking business” the Union Bank boss said. According to him, the bank’s first quarter results are a reflection of the steady progress it is making in the execution of its strategic priorities. He said, “Our priorities to sustain growth in 2016 remain focused on growing our deposit base and new customer acquisitions, as well as driving gains in transactional income. We will continue leveraging the technology and operational platform we have invested in whilst proactively managing our risks and operational costs.” ETI The fifth bank that had announced its first quarter results as at last Friday was Pan-African lender, Ecobank Transnational Incorporated (ETI). Like its peers, the bank also announced a fall in profits. For instance, it said pretax profit for the first quarter period ended March 31, 2016 went down 32.4 per cent to N20.63 billion from N30.52 billion recorded a year earlier while PAT declined 33.8 per cent to N16.21 billion from N24.47 billion declared the same period of 2015. In addition, the bank’s gross earnings dropped from N136.22 billion to N131.37 billion in the review period of 2016, showing a decline of 3.6 per cent. Uncertainty over economic policy Indeed, industry watchers told New Telegraph at the weekend that the chances of any lender reporting an increase in first quarter profits were slim. They stated that apart from the impact of the slump in oil prices, which has increased banks’ exposure to the energy sector, and issues with the Central Bank of Nigeria’s (CBN) foreign exchange restrictions, the industry’s performance in the first quarter was also affected by uncertainty over the government’s economic policy. According to a financial analyst at Berta Investments, Mr. Henry Odiase, “The first three months of this year has been very difficult for every sector. It is not only the banks that have been affected. For example, because of the government’s failure to efCONTINUED ON PAGE 29

BUSINESS |MONEY

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

EQUITY FINANCING Instead of applying cheap loans that could result in long-term indebtedness, firms should explore equity financing Stories by Tony Chukwunyem

irms currently rushing to obtain Bank of Industry (BOI) loans have been advised to first ensure that such funds are appropriate for their optimum capital structure and business strategy before applying for them, Chief Executive Officer, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has said. The respected Economist gave this advice in the latest edition of the FDC’s “Economic Monthly” note obtained by New Telegraph. He noted that the economic downturn in the country, which has made manufacturers des-

Rewane cautions on scramble for BoI loans perate for capital to bolster their operations has resulted in a growing demand for funds from the BOI, “due to the low cost of the loans given and the ease of accessing these loans”. However, he warned that if these firms accessed such loans without first doing a proper assessment of the needs of their businesses, “the funds can end up doing more harm than good by sending businesses into a spiral of debt that cannot be serviced”. The FDC said, “The recent spiral of economic events in Nigeria has been a source of concern to everyone. With the drop in oil prices to less than $40 per barrel, the resulting effect in the depletion of the nation’s foreign reserves and the subsequent depreciation of the naira, the question remains: as an import-dependent nation, how will businesses strive in this economic environment? Manufacturers, who depend on imported raw materials, are at

a halt in carrying out production activities. This challenge has led to businesses needing more capital to enable them to weather the storm. “The Bank of Industry is seen as a solution for many of these companies. Of recent, there has been a growing demand for funds from the BOI due to the low cost of the loans given and the ease of accessing these loans. However, businesses often fail to assess if the BOI funds suit their optimum capital structure and business strategy ahead of accessing these funds. As a result, the funds can end up doing more harm than good by sending businesses into a spiral of debt that cannot be serviced.” He pointed out that while firms often use debt as a source of capital when they are expecting some cash flow in future, which they will use to pay down the debt plus the interest, many of the companies currently applying for BOI loans are facing financial challenges.

“They (firms) take on additional loans to service past loans without making efforts to solve the underlying issues. Other businesses take on the loans to finance projects without sustainable plans for continuity. All of this simply leads to a spiral of future bad debts for the company,” he stated. The expert recalled that in a bid to boost its economy and revive growth after the 2008 global financial crisis, China gave a series of low cost bank loans to some private firms and the public sector, which were invested in unprofitable business ventures or non-income generating projects borrowers and with the result that some of the borrowers till this moment are still unable to pay back these loans. Rewane pointed out that the problem has led to a doubling of the Chinese debt to Gross Domestic Product (GDP) ratio to 282per cent in 2014 compared with the 158 per cent recorded in 2007. L-R: Group Head, Retail Banking Unit, Skye Bank Plc., Nkolika Okoli; a winner of the monthly N1,000,000 star prize, Job Abiona Fatunmbi and the Priority Banking Officer, Ogudu Branch, Ajibola TaiwoAshiru, at the tenth cheque presentation in the ongoing Skye Bank’s “Reach for the Skye” Millionaire Reward Scheme held in Lagos.

Banks lose ground to Fintech firms –Report

anks are not keeping up with Financial Technology (Fintech) companies in the area of digital innovation, a report has warned. According to the Capgemini World Retail Banking Report 2016, although it found 96 per cent of banking executives agree that the banking industry is evolving towards a digital ecosystem, only 13 per cent of them said their core systems are up to the task of sustaining such an ecosystem. “To keep up with the rapid changes caused by fintech firms, banks are exploring new approaches to innovation, including collaboration, incubation and acquisition,” said the report. The study also stated, “Nearly two-thirds of banks (65.3 per cent) say they view fintech firms as partners, a striking level of acceptance, given the historical perception of fintech as a destructive element. “The shift reflects the real-

ity that each side offers something to the other. Fintech firms excel in their ability to move quickly, innovate, and exploit new technology, while the banks have capital, deep customer bases, and expertise in dealing with regulators.” While 27.7 per cent of banking executives continue to view fintech firms as competitors, only 6.9 per cent view them as irrelevant. The growing level of partnership between banks and fintech firms is expected to take “many forms”, Capgemini said. “Collaboration and investment are high on the list of bank strategies, with 45.5 per cent citing collaboration and 43.6 per cent looking to invest in fintech firms,” said the report. “By taking advantage of fintech capabilities, banks can grow existing businesses or enter into new ones, such as low-value payments and

loans,” it said. Acquisition is lower on the bankers’ list, with less than one fifth (17.8 per cent) of respondents saying they plan to purchase firms or their technology. “Virtually all the bankers surveyed agreed that the advance of fintech requires action. Only 4 per cent cited doing nothing as a valid option,” Capgemini concluded. A report by Accenture, the consultancy firm stated that technology companies raised almost $1billion of investment last year to compete with British banks. More than 90 per cent of the investment was going into financial technology companies that were direct challengers to traditional lenders, the study said. It warned that banks risk losing “the battle for customer relevance” if they do not work with fintech companies and invest in technology.

According to him, “The lesson is not that debt itself is a bad thing; debt is a strategic choice of funding for companies when it is used to finance projects that will earn income in the future. However, when debt is poorly planned and managed, it can be a careless move for less strategic companies, particularly as it has to be repaid with interest irrespective of the financial performance of the borrower. Accumulation of debt without strategic considerations puts the company in a very sensitive position, and at a very high risk of bankruptcy.” The FDC CEO advised that instead of applying cheap loans that could result in long-term indebtedness, firms should explore equity financing. He said, “Equity financing, the process of financing through selling company shares, addresses some of the problems of debt financing. First and foremost, there is less strain on the company’s cash flow, as the funds do not have to be repaid at any specific interval. The fact that the investors can only benefit from the company when the company actually makes a profit also puts less strain on the company’s cash flow. Lastly, the risks and liabilities of the business will be shared with the new equity investors”. He noted that the major reason companies are usually wary of exploring this option, is the fact that they have to split ownership of the business with the investor. “Yes, there will have to be a split in ownership of the business and yes, the owners will have less autonomy to make decisions. However, if the business is already in a lot of debt with operational inefficiencies and a possibly weak cash flow, sharing the decision making function with a new investor may not be such a bad idea for proper governance”, Rewane argued.

Economic downturn hits banks’ profits CO N T INU E D FROM PAGE 28

fectively address the problem of fuel shortages, businesses incurred a lot of losses and this obviously hurt the banks. Also, the budget has not yet been approved and nobody knows when the Executive and the National Assembly will resolve their differences”. It will be recalled that around the middle of last year, a research and investment firm, Allan Gray, released a report entitled, “Gray Issue: The Sentiment Pendulum,” in which it expressed fears over the condition of Nigerian banks, predicting that there will be a lot of distress in the industry in 2016 and that lenders would be forced to raise capital before achieving normal earnings. Also, in a report it issued last August, global rating agency, Fitch Ratings, stated that in view of the increasingly difficult conditions under which Nigerian banks

were operating, the months ahead would invariably raise new challenges that may impact negatively on their performances, particularly profitability, assets quality, liquidity and capital ratios. Fitch’s Director, Financial Institutions, Mahin Dissanayake, noted that the risks at local level as well as banks’ exposure to the fiscal whirlwinds the country is currently facing due to declining earnings from crude oil exports, would impact negatively on their performance. Conclusion The tough times are here and banks have no choice but to devise creative survival strategies. From the first quarter results so far released, banks have tried to significantly reduce their costs. It is believed that they will keep on introducing more measures so that they can remain profitable in a difficult operating environment.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

BUSINESS | Investor

A well developed commodities exchanges will play a vital role in advancing Nigeria’s economic diversification goals, writes CHRIS UGWU

Developing commodities exchanges for diversification

growth and development”. The DG said that considering the important role commodities exchanges will play in advancing Nigeria’s economic diversification goals, the capital market community has taken steps to prepare the stage for vibrant commodities exchanges to emerge in the country.

here is no doubt that the Nigerian Stock Exchange (NSE) has come of age – a development that has also been attested to by the international communities. This may have spurred stakeholders in the Nigerian economy to step up campaign for the diversification of the local bourse to accommodate the commodities exchanges. A commodity is a product, which trades on an exchange. This includes cocoa, rubber, palm kernel, palm oil, coffee, hides and skin, gold wheat, cotton, rice, corn, grain, sorghum, butter, eggs and potatoes. It also comprises fats and oil, cottonseeds, groundnut, soya beans, livestock products and oranges, solid minerals and all other tangible goods and articles. Neglect of agriculture The need for vibrant commodities exchanges have become necessary as agriculture, which supposed to be the mainstay of Nigerian economy has suffered from years of neglect, inconsistency, poorly conceived government policies and the lack of basic infrastructures. In the 1960s, the agricultural sector was the most important in terms of contributions to domestic production, employment and foreign exchange earnings. The situation remained almost the same three decades later with the exception that it is no longer the principal foreign exchange earner, a role now being played by oil and gas. The sector remained stagnant during the oil boom decade of the 1970s, and this accounted largely for the declining share of its contributions. According to National Bureau of Statistics (NBS), the trend in the share of agriculture in the Gross Domestic Product (GDP) shows a substantial variation and long-term decline from 60 per cent in the early 1960s through 48.8 per cent in the 1970s and 22.2 per cent in the 1980s. Unstable and often inappropriate economic policies (of pricing, trade and exchange rate), the relative neglect of the sector and the negative impact of oil boom, were also important factors responsible for the decline in contributions of agriculture. However, currently, the reverse is almost becoming the case, as the decline in crude oil prices is currently affecting the economy and the government is looking for a way to boost non-oil revenue in the country. This is a more compelling reason why there is need to boost non-oil revenues, by reviving the country’s commodity exchange to encourage agriculture and also offer investors opportunities not only on the equity side but across the various asset classes. Since the capital market is reflective of the economy, the Securities and Exchange Commission (SEC)

NSE headquarters

has said that in order to complement the government in the area of agriculture, there is a great need to strengthen commodities exchanges in the country to enable farmer have value for their products. Plans for vibrant commodities exchanges In a bid to boost agriculture and promote commodity exchange in Nigeria, the SEC last week, said it was set to roll out various initiatives to provide an enabling environment for commodities trading in the country. Already, the Commission is reviewing the Warehouse Receipt Bill currently before the National Assembly and has given assurance that it will actively advocate its passage. This is in support of the policy thrust of the Federal Government to encourage investments in the agricultural and solid minerals sectors in a bid to ensure economic diversification and deepen capacity across the agricultural value chain. Director General of SEC, Mounir Gwarzo said this while delivering a keynote address at a training seminar organised by Africa Exchange Holdings (AFEX) on Commodity Trading and Risk Management in Abuja. He said the 10-year capital market master plan, which the market is currently implementing is the blueprint for the growth and development of the market over the next decade and acknowledges commodities exchanges as critical for enabling investment diversification, risk management, price discovery and transactional efficiency. He stressed that to boost Nigeria’s competitiveness, a thriving commodities trading ecosystem must be developed. The DG said: “We believe this can be achieved by implementing the following strategic initiatives - build a supporting and functional

The need to have viable commodities exchanges has become more critical now than ever

ecosystem for commodities trading. “Others are build centre of excellence in areas of comparative advantage such as for oil & gas, cocoa, etc. Develop efficient commodities exchanges and trading platforms, sponsor legislation to ensure Nigeria’s crude oil sales are traded on local exchanges and build capacity in commodities trading at the SEC and among market operators”. He said that as Nigeria pursues policies aimed at diversifying the economy, creating jobs and hastening socioeconomic development, it is becoming increasingly clear that Commodities Exchanges can play a crucial role in actualising these lofty objectives as a detailed empirical study by the United Nation’s Conference on Trade and Development (UNCTAD) analysed the impact of commodities exchanges on development in emerging markets. Gwarzo said countries that were part of the study are also emerging countries with the most vibrant commodities markets such as India, Brazil, China, Malaysia and South Africa. Among the many insights in study’s report is the fact that commodities exchanges play a central role in facilitating economic development especially by helping farmers to enhance their marketing and risk management capacity (such as reducing their exposure to price and other production risks). Nigeria he said, ranks number one in global export rankings for commodities such as kolanut, shea nuts and shea butter, cassava, and yams and also feature in top exporters for other commodities such as cocoa, rubber, oil palm, cashew and sesame seed. He said: “Our ginger is reputed to possess the best aroma in the international markets. Export opportunities also exist for a wide variety of other agricultural commodities. This simply magnifies the potential of our agricultural sector to contribute significantly to economic

Operators’ perspectives Chief Executive Officer, Modus Market Concepts Limited Mr. Brian Ojukwu, who described the efforts of the regulator as a welcome development, said “As an investor, your chances of risks are very less if you choose to invest in commodities trading. “Therefore the gains from commodity investing will be helpful for you to balance other losses due to other financial instruments in your portfolio. The chances of risks are lower because commodity investing primarily deals with diverse items. Moreover, when the contracts are entered for a future date at the current time, you can exercise reasonable care and see to it that the chances of risks are reduced or nil”. Ojukwu noted that the performance of commodity market could be monitored by analysing the performance of bond and share market because in most cases a commodity market will perform well when the others don’t perform and vice versa. He said it is possible to easily predict the prices and make the contracts by considering the ups and downs in other markets, which according to him, a prerequisite for this is that the assets in the commodity market should not be correlated with the stock and bond market. Explaining the importance of commodities exchanges, aside helping to deepen the activities of the capital market with the introduction of new products, Managing Director Crane Securities Limited, Mr. Mike Eze, said that it will increase the earnings of the producers by reducing the effects or price volatility, provide a basis for risk management and serve as mechanism for effective pricing. “The benefits of a commodity exchange include market price discovery as well as access to information concerning commodities traded on the commodities Exchanges, which are available to brokers in advance of trading i.e. quality, location and time of delivery, thus facilitating pricing. “The futures markets help to determine the best current prices. All bids and offers are aggregated and the prices at which the trades are executed, determine the best, current market price. In addition, the prices are publicly disseminated and therefore provide an easy way to determine a product or instrument’s fair price,” he said. Conclusion Given the increasing emphasis on agriculture, which is expected to enhance non-oil revenue in the country, the need to have viable commodities exchanges has become more critical now than ever.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

maritime

NIMASA: Burden of search and rescue The apex maritime regulator, Nigerian Maritime Administration and Safety Agency (NIMASA) saddled with the responsibility of Search and Rescue (SAR) in Nigeria is worried over the increasing number of boat mishaps which have claimed many lives and properties. Between 2013 and March 2016, no fewer than 450 people lost their lives to marine accidents, BAYO AKOMOLAFE reports.

orried by the tempo of boat mishaps, the Nigerian Maritime Administration and Safety Agency (NIMASA) collaborated with an international body, International Maritime Rescue Federation (IMRF), to reduce the incessant accidents on the country waters. Between 2013 and March 2016, about 450 people lost their lives to marine accidents. And it was learnt that no fewer than 400,000 lives are being lost yearly to marine accidents globally. Agency’s responsibility NIMASA hosts the Regional Maritime Rescue and Co-ordination Centre (RMRCC) for West and Central Africa, which is saddled with the responsibility of coordinating Search and Rescue operations in the region. The agency is responsible for the implementation of SAR rule in line with the International Convention for Safety of Life at Sea (SOLAS 1974). As the custodian of all International Maritime Organisation (IMO)’s conventions in the country, NIMASA is responsible for the safety of lives at sea and crafts in its waters. Also, its operations standards cover the personnel, equipment and procedures relevant in the performance of SAR operations. This involves the use of available facilities in locating and providing immediate aid to persons, other living beings and properties in distress. NIMASA’s plans Despite some codes on the waterways, accidents are being recorded frequently due to recklessness, wrecks and derelicts, rickety boats, inadequate safety infrastructure and lack of awareness. Miffed by these, the Director General of the agency, Dr. Dakuku Peterside, said that his management team was planning to set up standards that would

Crew being rescued from wrecked ship. Inset, NIMASA DG, Peterside

scale down the spate of deaths on the nation’s waters to the barest minimum. According to him, the agency’s commitment to SAR operations is crucial in the region. He explained that SAR operation was a collective responsibility in the West and Central Africa Region and the entire global maritime scene. Peterside urged other West African countries to support the quest for safety and security in the sub-Region. Enforcement The director general stressed the need for adequate sensitisation of boat operators, enlightenment of passengers and enforcement of safety standards to curb the growing cases of boat mishaps in Nigeria. He said: “Shipping is a global business and it is one of the activities that knit all economies in the world together; so, the need for safety of lives and security at sea as highlighted by the International Maritime Organisation (IMO) convention cannot be overstated.” Support Already, the Chief Executive Officer of the International Maritime Rescue Federation (IMRF), Mr. Bruce Reid, while in the country, pledged to support the agency’s quest for safety of lives. Reid said that collaboration between maritime nations was very necessary in order to mitigate the scourge. He said that IMRF was an independent body with consultative status with the IMO. He pledged that IMO would work with the agency to tackle marine accident challenges. Accident records In January 2014, three persons died at Ogogoro village, opposite the Tincan Island port in Lagos. Also, in Niger State 11 people lost their lives in June 2014 between

When you look at the surface of the water it looks equal but there are shallow and deep ends

Garafini-Kodo and Garafini riverine area. Four women died in Ebonyi State in August 2014, 15 teenage girls between the ages of 8 and 14 were killed In Kano, while 33 persons died between Dere in Niger State and Murtala Bridge on the River Niger in September of the same year. In 2013 alone, statistics by the Nigerian Inland Waterways Authority (NIWA) revealed that more than 300 people lost their lives. Just last week, a boat conveying 14 passengers capsised in the Atlantic Ocean in Bayelsa State, leaving seven dead. Also, a boat conveying 17 passengers sank in Badore area of Eti-Osa Local Government Area of Lagos State, killing seven persons, while five died in Ikorodu in March 2016. Last January, two passenger boats, MV Cherio and MMV Olaoluwa, collided in Ikorodu, leading to a fatal accident that claimed some lives. It was learnt that one of the boats had 20 passengers onboard. Also, about150 passengers died as a result of boat mishap in the state between 2014 and 2015. Last October, nine people died

when MT Elixir and MT Tank collided. The NIMASA team however, rescued some of the crew in the vessels. Indictment While the NIWA has blamed boat operators for their recklessness, the Association of Tourist Boat Operators and Water Transporters of Nigeria (ATBOWATON)’s President, Ganiyu Balogun, indicted the Lagos State Water Authority (LASWA) and NIWA for most of the accident on waterways. Solution Balogun said the government has a lot of role to play regarding accidents on our waters because there are wrecks on the waters. He said: “We need signs and buoys on the waterways to show the shallow and the deep end. “When you look at the surface of the water it looks equal but there are shallow and deep ends, it is only the government that can put these things in place.” Conclusion The government should find a lasting solution to the challenges causing accidents on Nigerian waters.

Nigerian imports under-declared, says Shippers’ Council

he Nigerian Shippers’ Council (NSC) has said that most of the cargoes being shipped to the country’s ports are under-declared. Its Executive Secretary, Mr Hassan Bello, said that the council had introduced Cargo Tracking Note (CTN) to maximise the potential of the maritime industry. In a statement, he said that the Federal Government could realise N17 billion per annum from CTN.

He said only the CTN will reveal the port of destination and the port of origin. Bello, who spoke at forum in Abuja, said that CTN had been widely accepted by most stakeholders in the maritime industry and had become a very important document of trade facilitation. He explained that the document would assist the Nigeria Customs Service to reveal weight and value of cargoes to allow its officials charge the appropriate duties.

business \ maritime

COLLABORATION Countries in the Gulf of Guinea are to join the fight against piracy. Stories by Bayo Akomolafe

he Sierra-Leone Maritime Administration (SLMA) has sought the assistance of Nigerian Maritime Administration and Safety Agency (NIMASA) in the area of capacity for effective Port State Control. The Chairman of the Board of SLMA, Mr.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Port State Control: Sierra Leone seeks NIMASA’s aid

•Nigeria to maintain high standards for vessels Lansana Dambuya, who led a delegation of the SLMA board members and management to NIMASA on a working visit, said that the agency’s capacity building initiatives was a model worthy of emulation. In a statement by the agency’s Deputy Director, Public Relations, Hajia Lami Tumaka,

the leader of the Sierra Leonean delegation, said that the SLMA thought it wise to partner with NIMASA, one of the leading Maritime Administrations in Africa. The delegation also drummed support for the endorsement of a Memorandum of Understanding (MoU) with NIMASA, which would give oppor-

tunity for the exchange of ideas among staff of the agencies to enable them develop their capacities. The Director General of NIMASA, Dr.Dakuku Peterside, commended SLMA for embarking on the working visit and gave assurance the delegation of NIMASA’s cooperation at all times.

Peterside, who was represented by the Director of Maritime Labour Services, Mrs Juliana Gunwa, stressed the need for collaboration in order to ensure the growth and development of the maritime industry in Africa. Tracing the history of the cordial relationship Nigeria has with Sierra

Leone, the director general gave assurance to the delegation that the agency would consider their requests and act accordingly. He urged other countries in the Gulf of Guinea to join the fight against rising cases of piracy in the region. Peterside said: “We are open more than ever before to collaborate and share intelligence on issues relating to piracy and other crimes in order to rid our waters of this menace that has clearly become a danger to our collective prosperity.” Meanwhile, the agency had said that Nigeria would continue to set high standards for vessels and oil platforms operating within Nigeria’s territorial waters in line with the Safety of Life at Sea Convention (SOLAS ’74). Peterside disclosed this during an engagement with officials of the American Bureau of Shipping (ABS), Asia Pacific region, led by the President and Chief Operating Officer (COO) Mr. Derek Novak, in Singapore. The director general said that Nigeria should not be a dumping ground for substandard vessels and therefore solicited the support and cooperation of classification societies such as ABS to establish and maintain high technical standards for construction and maintenance of vessels and other maritime structures. He said that the maritime sector, which is the facilitator of the national economy in Nigeria, was growing at a rapid rate and therefore needs all the support it could get. Novak said that ABS had been working with Nigeria for a long time and that the bureau would continue to maintain the high standards for which it is known. He promised to work with his counterpart in West and Central Africa to enable NIMASA benefit from some of the training opportunities ABS offers. He noted that if Nigeria was properly positioned, it could emerge as the shipping power house of West and Central Africa. Novak also identified Singapore as a great maritime nation from which Nigeria should seek closer ties.

business \ maritime

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

FG to float new national carrier with cabotage fund APPRAISAL Minister seeks performance audit of agencies to address challenges

L-R: Representative of Managing Director Glaxosmithkline Pharmaceutical Nig. Limited, Dr. Omolabake Okunubi; Representative of Managing Director of Nigerian Ports Authority (NPA), Abdullahi Goje and NPA General Manager, Medical Services, Dr. Chinwe Abama at the flag-off of the authority’s staff vaccination against meningitis at the authority’s head office in Lagos.

Stories by Bayo Akomolafe

he Federal Government will float a new national shipping line with the Cabotage Vessel Finance Fund (CVFF), Minister of Transportation, Rotimi Ameachi, has said. The minster dropped this hint at a maritime technical summit organised by the Association of Marine Engineers and Surveyors (AMES) in Lagos. He said it was part of effort to develop the shipping sector. Ameachi said that he would not disburse the fund to acquire the national carrier but it would be driven in partnership with private investors. He stressed the need for a performance audit of agencies in the sector to ascertain the kind of challenges they were facing with a view to addressing them. The minister said that he would meet with some experts and ship owners next week and make decision on establishing the national carrier. “We will also create a group that will move it forward,” he added.

Also, he stressed the need to upgrade the Maritime Academy of Nigeria (MAN), Oron, to strengthen its capacity to produce skilled manpower for the sector. He said, “The institution would have been well equipped and developed by now if the fund invested to establish the Maritime University, Okerenkoko, had been put into it. “Anybody who has invested in Okerenkoko should have invested the money in MAN Oron. That is why the institution has not developed. We cannot

continue to build another institution when we have not equipped existing ones.” Earlier in his address, President of AMES, Charles Uwadia, called for a holistic review of the maritime sector human capacity development. He said that the failure of the sector was due to lack of in-depth technical input in maritime policies and their implementation in line with international best practice. Uwadia added that the decline in standard, quality and profitability of the ships

IMO adopts single window for international shipping

he International Maritime Organisation (IMO) has adopted mandatory requirements for the electronic exchange of information on cargo, crew and passengers. It is part of a revised and modernised annex to the Convention on Facilitation of International Maritime Traffic (FAL), which aims to harmonise procedures for ship’s arrival, stay and departure from port. The new single window for international shipping standard is among important changes in the revised annex, which is expected to enter into force on January 1, 2018, under the tacit acceptance procedure. According to a statement from IMO, there will be a transitional period of 12 months from the date of the introduction of such systems to make electronic transmission mandatory, during which period paper and electronic documents would be allowed. It explained: “The FAL treaty, first adopted in 1965, aims at securing the highest practicable degree of uniformity in formalities and other procedures, including mandatory standards and recommended

practices on formalities, documentary requirements and procedures, which should be applied on arrival, stay and departure to the ship itself. “T hese include standardised forms for the maximum information required for the general declaration, cargo declaration, crew list and passenger list; and agreed essential minimum information requirements for the ship’s stores declaration and crew’s effects declaration.” The organisation also hinted that the update was aimed at ensuring the FAL treaty adequately addresses the shipping industry’s emerging needs and expedite international maritime traffic. It noted that the new standard would prevent unnecessary delays to ships and to persons and property on board. It stressed that other revised standards covered shore leave and access to shore-side facilities for crew, including the addition of a paragraph in the standard, which stated that there should be no discrimination, in respect of shore leave on grounds of nationality, race irrespective of the Flag State of the ship on which seafarers were employed.

of Nigerian flag was as a result of their poor technical standards occasioned by the owner’s reluctance to comply with national and international standards and regulations. Also, a former Alternate Permanent Representative to the International Maritime Organisation

(IMO), Engr. Olu Akinsoji, traced most of the challenges faced in the sector to the deficit of human capacity development. He said: “There is deficit of human capacity development, which must be looked into before establishing a new national carrier.”

Customs revenue drops by N2.7bn at Tincan Port

he Nigeria Customs Service (NCS) revenue has dropped by N2.7 billion in the first quarter of 2016 at the Tincan Port. According to the Tin-Can Island Command‘s Public Relations Officer, Chris Osunkwo, in a statement, the service generated N58.9 billion in the first quarter of 2016, while it made N61.6 billion in 2015. Also, he said that the command made some seizures in the period under review. The spokesman noted that last January, the command seized 60 cartons of centre tables, 30 cartons of cooking oil, 60 cartons of fruit juice and 25 cartons of spaghetti, all with a Duty Paid Value (DPV) of N3.6 million. Osunkwo listed the seizures

last February to include 50 bundles of used tyres, 15 cartons of table water, 10 cartons of vegetable oil, 11 bags of used clothes and three bags of used shoes, all with a DPV of N600,000. The public relations officer added that the command seized 70 cartons of tissue paper, 70 cartons of nylon, 24 bags of fruit juice, 21 bags of used shoes and a woman’s bag, all with a DPV of N571, 000 in March. The Customs Comptroller General, Col Hameed Ali (rtd), at a consultative forum between Customs and the Manufacturers Association of Nigeria (MAN), had decried the revenue shortfall. Ali attributed the shortfall in Customs revenue to Central Bank of Nigeria’s (CBN) policies.

NPA vaccinates workers against meningitis

igerian Ports Authority (NPA) has flagged off the vaccination of all its employees against meningitis. In a statement, the authority said it flagged off the exercise in response to a call by World Health Organisation (WHO) to prevent the spread of meningitis in some West African countries of Senegal, Chad, Mali, Niger, Cameroon and Nigeria, being regarded as meningitis belts. The Managing Director of the authority, Mallam Habib Abdullahi, who was represented by the General Manager, Marine and Operations, Mallam Abdullahi Goje, performed the ceremony at the NPA boardroom in Marina, Lagos. NPA’s General Manager, Public

Affairs, Capt.Iheanacho Ebubeogu, said the managing director noted that the authority would not spare any effort at ensuring that the entire workforce remained healthy. While commending the medical division for their initiative, Goje urged the division to spread the programme to all port locations and the zonal offices of the authority. Also, the authority’s General Manager, Medical Services, Dr C.I. Abama, disclosed that meningitis was a serious infection of the meninges, the protective membranes that surround the brain and spinal cord, and that GSK Pharmaceuticals was involved in the programme because it was the manufacturer of drugs for the ailment.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Literature

Art culture

Values, morality as panacea for development

One of the troupes performing at the opening of the drum festival

Pomp, culture as Ogun host Nigerian drum festival

Tony Okuyeme

he June 12 Cultural Centre, Abeokuta, the Ogun state capital, last week, erupted in a blaze of performances as the maiden edition of Nigerian Drums Festival turned the venue into a giant stage. It was, indeed, a festival that will linger in the minds of not just the participants but also scores enthusiasts who thronged the place to savour the colourful and breathtaking display and history unfold. Dozens of countries across Africa and outside the conti-

nent, as well as 19 states in Nigeria, participated in the twoday festival, which orgainised by the Ogun state government under the leadership of Governor Ibikunle Amosun. The opening ceremony was marked with captivating dance performances and drums ensemble, showcasing a rich array of traditional drums and talented drummers in Nigeria. It was also a showcase of versatile artistes and drummers who engaged these musical instruments in rhythmic conversations. The festival served as unifying force and a celebration of Nigeria’s diverse and rich

The festival aims to be a yearly event. It will offer a unique platform to celebrate drums

TONY OKUYME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

cultural heritage. It had several Obas in the South West in attendance at the opening ceremony including the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi. Also in attendance at opening ceremony include ambassadors, culture administrators, and a host of other dignitaries. The highpoint of the opening was the unveiling of 16 and 17 feet tall drums by Governor Ibikunle Amosun, who declared the 17 feet drum as “the world’s tallest traditional drum”. According to him, the festival aims to be a yearly event. It will offer a unique platform to celebrate drums and attract both local and international tourists to the Ogun state which is commonly referred to as the Gateway to Nigeria. There were performances by various troupes, including the Ogun State Council for Arts and Culture which opened with a special rendition of the national anthem with an ensemble of talking drums. Also, performances by Aanu, a female Ekwe player, Unique Fingers, a drums en-

semble, Aralola, one of the best female talking drum players in Nigeria among other performers thrill the enthusiastic audience. There goodwill messages the Minister of Information and Culture, Alhaji Lai Mohammed, who was represented at the event, by the Excecutive Secretary, National In statute for Cultural Orientation (NICO), Dr. Backlays Ayakoroma, Oni of Ife, DG, National Council for Arts and Culture (NCAC), Mrs. Dayo Keshi, former DG, Nigerian Tourism Development Commission, Mrs. Sally Mbanefo and others. A major feature of their messages is the significance culture to national development and that art can unifying the world. The Commissioner for Culture and Tourism in Ogun State, Chief Muyiwa Oladipo, stressed the need to reposition the culture sector, saying, “We believe that our culture is dying gradually and we needed to start from somewhere, we found out that it is only through drums, only drums are available in all the communities in Nigeria. So starting with drums we can reach out to other parts of our culture.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Film title: Negritude: A Dialogue between Senghor and Soyinka Director: Manthia Diawara Duration: 52mins

anthia Diawara is one of the significant scholars of African cinema, and this has been further established recently with the publication of the African Studies Review in December, 2015, essentially devoted to the African films and built upon the backdrop of the myriad concerns and concepts espoused by Manthia Diawara himself to the commitment of producing scholarly works on African films. Kenneth Harrow, the editor of the Film Review Unit of the international Journal of African Studies Review in last December edition emphasized that for many years the scholar’s (of African filmmaking) work has guided scholars and students in African cinema in multiple ways. “His study of cinema production in various African countries, African Cinema: Politics and Culture (1992), set the stage for many major critical approaches. Among other contributions he promoted the use of archival research into the directions taken in Anglophone, Lusophone, and Francophone cinema”. It is not surprising that Diawara, in spite of his foray as a scholar has also tried his hands on the art of making films specifically documentaries that come in form of “cine-essays” through the genre of the “biographical or autobiographical films, in the process establishing his own familiar deep voice as guide commentator”. The recurring element of the guide commentator reflects in his recent trial titled: Negritude: A Dialogue between Senghor and Soyinka. With Manthia Diawara as the narrator the work is a critical visual critique on some of the exegesis and tenets of Negritude which Leopord Senghor espoused during his lifetime, and how Soyinka both critiqued and further transformed the concept in view of a universal appeal without subverting the earlier claims of late and former president of Senegal. The film opens up with an old footage of an international

ART

Negritude: Beyond Dialogue NEWS Ilaro festival: between Senghor, Soyinka Oronna Monarch inaugurates committee Kunle Olayeni Abeokuta

Diawara

gathering where Wole Soyinka’s speaking on several issues which included issues of African culture, history and of course Negritude. The work is divided into ten parts or episodes and each given equal treatment on Negritude and the various derivations that are essentially connected with culture, history, social history of Africa, colonial and postcolonial matters, issues of democracy, politics, political economy, capitalism, dictatorship and so on. Very rich in form and content, Diawara juxtaposes old, archival footages of interviews with Senghor on the dialectics and practices of Negritude, with real time interviews of Soyinka, in order to create a meaningful parity of an essential dialogue. To further negotiate a meaningful dialogue between the two figures on the same issue, Manthia Diawara balances these dialogues by picking up a an issue that is connected with the subject matter and tries to use the figures to delineate the subtext of each of the subject matters. Diawara plays the role of the cultural courier by showing the elements of the African world, and subversive transforming elements of modernism or postmodern lifestyle in an already threatened cultural ambience. For instance, while he depicts the notions of the African

Diawara plays the role of the cultural courier by showing the elements of the African world.

Negritudinal idiosyncrasies through the theatrical performances, or the griot performer on the boat playing his local guitar, there is a sense in which he fuses these traditional tropes of art with the frames of daily life in the cities and the constant transformation that comes with globalization. Another aspect that even demands a crucial mention is the fact that the footages of Senghor’s interviews were done in French, and while those of Soyinka were done in English which clarifies that measure of authenticity in the old passion for Negritude, and constant hegemonic existence and survival of the English language. The documentary is of profound intellectual dept. Much like any other seriously made work, it traces the historical development of a tradition from its earliest beginnings, to our present times and this “present times” establish also that Negritude in itself is a phenomenon that wields social history, and social histories can only trace the development of a phenomenon that has the potential to exist and influence generations for a very long time. Tunde Onikoyi is a film scholar and critic. He writes from Kwara.

Government policies killing book industry, says NBFT Mojeed Alabi

he Nigerian Book Fair Trust (NBFT), an umbrella body of stakeholders in Nigeria’s book industry comprising booksellers, publishers, authors, printers, among others, have expressed concern over what they described as the negative impacts of the nation’s financial and economic policies on the book businesses. At a media briefing ahead of its 15th edition of the annual international book fair, which has been scheduled to hold between Monday, May 9 and Saturday, 14, at the University of Lagos, UNILAG, Akoka, the stakeholders lamented the many challenges facing the nation’s book industry, saying many

international partners are finding the country’s foreign exchange policy and the scarcity of American dollars unfriendly to business growth. The Vice-Chairman of the group, Mr. Babs Fashanu, who addressed the briefing on behalf of the Chairman, Mr. Riliwanu Abdulsalami, noted that the situation is already contributing significantly to the waning reading culture in the country. According to Fashanu, since its establishment about 18 years ago, the NBFT has not faced harder times than it currently does, saying the commitment to hold this year’s edition of the book fair is as a result of the organisation’s dedication to sustainability of the nation’s book industry.

“The current unpalatable state of Nigerian economy has not helped matters for us all. Some organisations that ought to have taken exhibitions stands at this year’s fair have been financially incapacitated and most of them are importers of raw materials and endproducts in the country’s book sector. “Also, the government monetary and fiscal policies have made international trade and businesses difficult for many business organisations, and as a result, the development has negatively affected trade relationships between business organisations within the book industry and their counterparts in other countries especially the United Kingdom, India, UAE, among others,” Fashanu stated.

he Olu of Ilaro and Paramount Ruler of Yewaland, Oba Kehinde Olugbenle, has inaugurated a new planning committee for the annual Oronna Ilaro festival. He said community-driven and self-help projects will boost the socio-economic development of Ogun West senatorial district in the state. The monarch spoke at his Ilaro palace during the handing over of the Chief Kayode Odunaro-led executive to the new committee headed by the Registrar of Federal College of Education, Abeokuta, Alhaji Rafiu Akinola. Oba Olugbenle said government alone cannot shoulder the responsibility of community development, stressing that indigenes must always take the lead in facilitating such efforts. According to him, communities should no longer wait on the government to provide them all the needed infrastructure and social amenities. He noted that the resources at the disposal of government are limited and, therefore, it had become imperative for various communities to resort to self-help in meeting their respective needs. “There is a saying that charity begins at home. Nobody will build a home for you, you have to start before somebody else can help you out. I want to appeal to our people in Ilaro and Yewaland that they should rally round themselves in developing our communities. Government will do their best but majority of it lies in our hands,” Oba Olugbenle added. He commended Chief Odunaro for revitalising the Oronna Ilaro festival and showcasing the town’s rich cultural heritage through it. Also, the monarch inaugurated a four-room security post constructed by Odunaro-led executive and handed it over to the Divisional Officer of Nigeria Security and Civil Defence Corps (NSCDC), Mr Matthew Akinbami, for the use of the agency.

Lagos Film Society holds two-day symposium

agos Film Society (LFS) is set to hold a two-day symposium on the theme Reclaiming History, Unveiling Memory. The symposium is supported by Goethe-Institut Nigeria and British Council and it is open on 29th and 30th April, 2016, at Nigerian Film Corporation, Ikoyi. It will look at “How Do We Revisit Memory?” “Cinema presents memory as a collective commodity, and as a means to tapping into the strength of human existence. It provides a platform for engaging history and questioning the past from the standpoint of the present. The symposium seeks to fill this vacuum, to shine a flashlight, and make a floodlight of it, into the mystery that shrouds a collective past, and to trigger the culture of revisiting memory.

LITERATURE

Values, morality as panacea for development

gainst the sorry state of our world that has lost its moorings, resulting in the Hobbesian conception of life as being “solitary, poor, nasty, brutish and short,” Adebayo Lawal in his second collection of poems, Music of the Muezzin, offers us a way out of the miasma. Through a blending of soulful sounds, delicious lines of pure poetry that offer us sense from the pervading nonsense beclouding our global horizons, the poet draws our attention to the need to uphold morality and promote character in our lives. Basically, Music of the Muezzin is a collection of 38 poems divided into six unequal parts: “Pro-Song: Symphony of the Lonesome Lark”, “Invocation: the Cock’s Mystical Music,” “Smiles of Sorrow,” “Exhortation: Cryptic Clauses of Counsel”, “The Snail’s Courage” and “Epi-Songs: True Time is but Timelessness”. As common to most works of poetry, the themes are as diverse as the poems artistically woven in the compelling collection, but one thesis that reverberates across the work is the need for values and morality in our society. This the author does by distilling messages that tantalize or religious, moral, cultural and ethical sensibilities. The first poem in the collection is the “eponymous” poem (i.e. the poem that gives the collection its title). It is the first we encounter, where the poet explains the impact of the muezzin’s call to prayer on him. The rationale for putting the poem first is most likely informed by the fact that when a baby is born in Islam, the first thing he hears is the adhan or call to prayer. We then have the poet’s interpretation of the magnificence of His Creator, Whose majesty he celebrates in “The paradox of your presence” (p.12). However, the first two parts are not about Islam and faith alone. There is a striking poem, “Lines for a don”, dedicated to his teacher, Prof. David William, with which the poet decries the decline in the academics, which is of interest to every lecturer or don. In his usual interlock of sense with sound, a major stylistic feature of the collection, our poet takes a swipe at academic shoddiness and intellectual laziness, a cankerworm that seems to have seeped, or sneaked like a thief in the night, into our ivory towers. The sense is compelling in describing various types of dons in lovely lines and repetitive sonority before upholding the standard as symbol-

Book title: Music of the Muezzin Author: R. Adebayo Lawal Publisher: Kraftgriots Year of publication: 2014 Number of pages: 60 Reviewer: Mahfouz A. Adedimeji

ised by the teacher: “There are dunces / And there are dons. / Dons by distinction, / Dons by connection / Dons by compassion / Dons by constipation. / The mafia don, / Done by cruel connection, / Is the Don Juan / Thriving on a code of terror.” … (p.20) There are interesting poems in Part Three, which begins with “The multinational tycoon’s theory”, a witty and humorless poem that ascribes the black man’s tragedy to the accident of creation. He lampoons the archetypal poli-

Book stand

tician in our era of politics without principle describing him in powerful imagery using the bat metaphor: “Bird by day/ Rat by night/ The bat vies with the vulture/ And races with the rodent.” (p.25). In “Damsel of the ivory tower” (p.31) and “City damsel” (p.32), Lawal has urgent and pungent messages for the students who waste their present and future on illicit sexual adventures. For the latter poem (i.e. “City damsel”) that exploits the computer imagery, the warning to men is that the city damsel is not more than a lovely laptop with a caveat: when you “insert a randy flash-drive / You end up with a vicious virus” (p.31). In Parts Four and Five, the author offers antidotes to our troubled and troubling times while canvassing the virtues of love (i.e. “True love”(p.38); “We are all one” (p.39)) reason (“Who are you? (p.40); “Rat race or human race? (p.41)), religious tolerance and righteousness (i.e. “The cannibals” (p.42), “The bubble shall burst” (p.48), “Blessed are they” (p.52)) and other poems of similar thematic concerns. There are also well-crafted poems in this section like “Ilorin” (p.45) which offers a food-for-thought that everyone would like to relish and “In the long run” (p.47) which gives poetic expression to the maxim, “Justice delayed is justice denied.” Generally, this collection is “larger than its frame” in terms of the profundity of the timeless messages that make good sense for our troubled season in a world that is going amok. It is a call to action to eschew what is morally bad, religiously sinful and ethically repugnant in our day-to-day interactions.

What we are reading

POETRIP

Colourful day Oladipo Kehinde Season of Crimson Blossoms is wonderful for its depiction of the sensuality of a northern woman, an older northern woman. It is also thoughtfully written, very sensitively written. Abubakar Adam Ibrahim is not celebrated enough; he is a very good writer, very dedicated writer; and it is my hope that more and more people will read this his first novel. As you know, of course he had a short story collection before; and I look forward to more works from him.

The reason the book was so pertinent is because it deals with investigations of high level corruption among communist party members in the communist government. It is a case of a highly placed party member misusing his position and acquiring all sorts of privately organized wealth. A Case of Two Cities is a fantastic novel, but it teaches so much about what investigating high ups in the political systems means.

TONY OKUYME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Molara Wood

Prof. Kole Omotosho

I swim in the cloud of beautiful thoughts The clouds is the mirror of the upland sun The ocean is the shadow of the silver moon at night The rainbow is the memory of colourful day I am a poet for the stage I am the son of my age I paint the clouds with beautiful thoughts Metaphor for my sensibilities I am one with the melody of the wind I know the footsteps of every sound I know the edge on the way to the house of knowledge I swim in the cloud of beautiful thoughts I am a poet for the stage

BUSINESS |Money Line

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

CBN: BDCs bought $670m forex in Q4 2015

GUARD Apex bank stopped the sales in January Stores by Tony Chukwunyem

he total amount of foreign exchange purchased by Bureaux De Change (BDCs) in the fourth quarter of 2015 amounted to $670million, the Central Bank of Nigeria (CBN) has said. The apex bank stated this in its quarterly statistical bulletin for the last quarter of 2015 posted on its website. According to the CBN, “Total foreign exchange purchases

by the BDCs in Q4 2015 stood at US$670.00 million, representing a decrease of US$25.94 million or 3.7 per cent below the US $695.95 million reported in the preceding quarter. In naira terms, the value of foreign exchange purchased amounted to N130,902.35 million, representing a decrease of N6,227.18 million or 4.5 per cent.” Industry analysts point out that the figures show that the amount of forex bought by the BDCs from the regulator had started to decline by the end of 2015. The CBN had in early Janu-

ary this year stopped its weekly sale of forex to the BDCs and directed them to source for forex from autonomous sources. The apex bank took the action on the grounds that BDCs were engaging in rent seeking behavior thereby putting the naira and the external reserves under pressure. It will be recalled that in announcing the stoppage, CBN Governor, Mr. Godwin Emefiele, stated, “The CBN sells US$60,000 to each BDC per week. This amount translates to US$167 million per week, and about US$8.6 billion per

Poll: 8 in 10 Nigerians express concern over budget delay

he latest public opinion poll released yesterday by NOIPolls revealed that most Nigerians are concerned over the delay in the approval and signing of the 2016 budget. The survey showed that a vast number of Nigerians (81 per cent) reported that the 2016 budget is long overdue for approval and implementation, while 85 per cent stressed that the delay in the approval and implementation of the budget will definitely affect the nation’s economy. Specifically, an average of about 8 in 10 respondents in the nationwide poll who seemed aware of the non-passage of

the budget, said that the release of the budget was long overdue and cautioned that further delays could adversely affect the country. Commenting on the sort of adverse effects the delay could have on the country, about three in 10 Nigerians said it could “slow down business activities”, 17 per cent thought it could lead to “stagnation in the economy” , 13 per cent mentioned “poor budget implementation” while 11 per cent said it lead to a “deepening of the fuel crisis” and an “increase in prices of goods and services” amongst others. Also, when asked about, which sectors of the economy should be given priority in the

2016 budget, 30 per cent mentioned the agricultural sector, 21 per cent cited the education, 13 per cent mentioned job creation, while 8 per cent cited health and power amongst other sectors. Although President Muhammadu Buhari presented the 2016 budget before the National Assembly last December, allegations that the appropriation bill was padded resulted in the National Assembly not passing it until last month. However, when the legislature sent the budget to the Executive, the latter alleged that significant amendments were made, which were inconsistent with its spending plan.

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

N19,142,526.05m N18,579,219.49m 12.8 12 10.77 US$43.41 US$27,202,532,190

Mar, 2015 Mar, 2015 Mar, 2016 23/03/2016 Mar 2015 26/4/2016 25/4/2016

Tenor (Days) Call 30 90 180

FGN Bonds

TTM

Price 104.54 114.58 111.91 120.62 109.79 100.32 83.54 97.16

1.06 3.23 3.86 5.81 7.94 9.80 14.30 18.29

NIBOR

Rate (%) 4.2500 8.2420 10.1127 11.7162

Bid Yield 10.45 10.54 11.61 11.43 12.23 12.43 12.49 12.54

Change (%) -0.21 ▼ -0.87 ▼ -0.90 ▼ -0.66 ▼

Change (%) 0.07 ▲ -0.01 ▼ 0.01 ▲ -0.01 ▼ -0.04 ▼ 0.04 ▲ 0.05 ▲ 0.06 ▲

Price 104.69 114.88 112.21 120.92 110.09 100.62 83.84 97.46

Tenor (Months)

Offer Yield 10.30 10.44 11.52 11.36 12.18 12.38 12.44 12.50

Change (%) 0.07 ▲ -0.01 ▼ 0.01 ▲ -0.01 ▼ -0.04 ▼ 0.04 ▲ 0.05 ▲ 0.06 ▲

NITTY

Rate (%) 5.1731 6.4137 7.3300 8.8857 9.6247 10.5416

1 2 3 6 9 12

Treasury Bills

Spot($/N)

Offer 199.24

Change (%) -1.82 ▼ -0.82 ▼ -0.75 ▼ -0.32 ▼ 0.04 ▲ 0.04 ▲

Money Market

Change (%) 0.00 ↔

NIFEX

Spot($/N)

Bid 199.0000

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

196.00

197.00

per annum. This is a huge hemorrhage on our scarce foreign exchange reserves, and cannot continue especially because we are also concerned that BDCs have become a conduit for illicit trade and financial flows.”

MFB disburses N50bn to 227m Nigerians Stanley Ihedigbo

ccion Microfinance Bank has disbursed about N50 billion easyto- access loans to over 227 million Nigerians, since its inception, according to a statement issued by the leading MicroFinance Bank (MFB). Head of Marketing and Business Development of the bank, Mr. Oladeji Alonge, said the financial institution currently operates 31 branches in Lagos and had its first branch outside Lagos in Port Harcourt last year. “The bank is set to offer its variety of financial services and products ranging from savings, current, fixed deposit accounts, micro loans, asset loan, SME- small and medium enterprises loans, insurance and e- channels, which will defi-

nitely lend hand to government efforts in alleviating poverty among the low income earners and people in the bottom of the pyramid and offer other socioeconomic benefits to the host community”, he added. Alonge said that the bank would begin operations in Ogun state, the acclaimed gateway of industrialisation in a few days from now. “The bank is set to commence operations in two locations of the state at the same time; Sango Ota and Akute,” he said. He noted that the microfinance bank, was licensed by the Central Bank of Nigeria (CBN) and started operations in 2007 with a mission of targeting the financially excluded with financial services in a sustainable, ethical and profitable manner.

CBN to raise N150.6bn in Treasury bills

he Central Bank of Nigeria (CBN) yesterday announced that it plans to raise N150.60 billion ($760.61 million) from sales of Treasury bills with maturities ranging from three months to a year on May 8. The apex bank said it will raise N45.17 billion in 3-month

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 7.34 7.47 -0.35 ▼ Open-Buy-Back (OBB) 3.75 30-Jun-16 7.59 7.73 -0.35 ▼ 6-Oct-16 8.37 8.12 8.47 -0.24 ▼ Overnight (O/N) 4.25 8.74 -0.24 ▼ 16-Mar-17 9.40 10.32 0.04 ▲ 9.15 10.02 0.04 ▲ Bid 199.14

year. In order to curtail this reserve depletion, we have reduced the amount of weekly sales to $10,000 per BDC, which translates into US$28.4 million depletion of the foreign reserve per week and US$1.476 billion

bills, N23.43 billion in the 6-month paper and N82 billion in one-year debt. Yields rose significantly across the board at the April 20 auction, reflecting rising inflation, which rose to 12.8 per cent in March, from 11.4 per cent the previous month.

Atlas Mara seeks partners for Barclays’ African operations

Source:CBN

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

0.00 ↔

Offer 199.1000

Change (%) -0.08 ▼ -0.08 ▼

Change (%) 0.00 ↔

tlas Mara, the African finance company co-founded by former Barclays CEO Bob Diamond, said it has held talks with investors looking to combine the firm with the British lender’s operations in the continent as it swung to full-year profit. Diamond’s New York-based private-equity vehicle Atlas Merchant Capital and the Mara Group, founded by his partner at Atlas Mara, Ashish Thakkar, are among members of a consortium in talks over a potential deal, the Londontraded company said in a statement yesterday. Carlyle Group is working with Diamond on a prospective approach, people familiar with the matter said yesterday. A combination with Barclays’ Africa Group would rapidly accelerate Atlas Mara’s growth plans and give Diamond control of operations he championed as the CEO of the British lender before exiting in the wake of the Libor scandal. Started in 2013 by Diamond and Ugandan entrepreneur Thakkar to consolidate African financial services firms,

Atlas Mara has made four acquisitions in seven subSaharan countries from Botswana to Nigeria, with plans to expand that to 10-15 markets in the next few years through further deals. “Atlas Mara’s board of directors supports the exploration of the potential combination” of the company with Barclays’ African operations, the company said in the statement. Diamond and Thakkar would “recuse themselves” from the firm’s internal discussions over the potential approach and remained “wholly committed to Atlas Mara and the execution of its strategy”. Barclays CEO Jes Staley announced on March 1 that the bank was retreating from Africa and selling down its 62per cent holding, as it sought to boost its capital ratios and focus on US and UK operations. Staley is preparing to sell an initial 10 per cent stake in the Johannesburg-based business to several large investors, while keeping the option to divest its entire holding, people familiar with the matter have said.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

BUSINESS |Financial Market News FMDQ Daily Quotations List

26-Apr-16

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description 13.05 16-AUG-2016 ^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034 ^12.40 18-MAR-2036

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.4000

581.39 480.13 20.00 100.00 300.00 351.30 233.90 576.93 605.31 719.99 266.02 75.00 150.00 200.00 591.57 1075.92 80.00

TOTAL OUTSTANDING VALUE

6,407.46

TOTAL MARKET CAPITALISATION

6,408.58

Rating/Agency

Description

Issuer

Maturity Date

TTM (Yrs)

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.31 1.00 1.25 1.35 2.09 3.17 3.49 3.80 5.75 7.88 9.74 12.59 13.07 13.57 14.24 18.23 19.89

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

7.98 11.08 11.19 11.24 11.57 12.06 12.29 12.51 12.33 12.68 12.82 12.90 12.91 12.92 12.94 13.05 13.22

7.50 10.93 11.06 11.11 11.49 11.95 12.17 12.41 12.26 12.62 12.76 12.85 12.86 12.86 12.89 13.01 13.17

101.46 103.72 98.44 97.68 98.39 110.10 85.34 108.89 116.33 107.40 98.20 112.89 97.35 72.01 81.03 93.73 94.27

101.61 103.87 98.59 97.83 98.54 110.40 85.64 109.19 116.63 107.70 98.50 113.19 97.65 72.31 81.33 94.03 94.57

6362.457269

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.20

03-Apr-17

0.51

2.94

12.04

102.52

30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.18 0.18 0.98 0.70 1.68 1.49 1.51 1.47 1.48 1.66 2.08 3.57 2.05 4.59 4.68 2.71 2.74 3.97 3.53 3.55 4.03 6.46 3.65

4.46 3.48 1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.96 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

10.61 9.63 12.00 15.58 13.78 12.30 12.31 15.11 14.86 15.20 13.59 15.28 12.55 13.74 16.19 14.38 12.86 13.69 16.31 13.31 14.88 14.16 15.39

100.51 100.95 98.19 98.79 100.27 102.19 102.20 99.19 98.89 100.35 103.25 97.87 103.78 99.18 96.14 100.19 104.56 104.41 100.39 108.36 106.85 111.12 104.09

29-Sep-16 25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 30-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 06-Nov-20 14-Nov-20 04-Dec-20 20-Nov-21 30-Dec-21 13-May-22 26-Oct-22 30-Sep-24 30-Sep-24 29-Jul-30

0.43 0.50 0.62 0.98 1.19 1.43 0.88 1.20 1.37 1.37 2.43 1.48 1.56 1.68 2.28 4.55 3.05 5.57 5.68 6.04 4.22 8.43 8.43 9.56

1.00 1.34 1.00 6.96 6.41 1.88 1.88 3.15 6.35 1.00 1.17 4.42 6.11 3.28 4.47 1.00 3.55 2.51 1.00 1.00 2.77 1.00 1.00 1.00

9.64 10.38 10.53 17.96 17.58 13.15 12.48 14.32 17.60 12.25 12.89 15.72 17.44 14.67 16.13 13.44 15.56 14.86 13.36 13.38 15.24 13.72 13.72 13.80

101.33 101.83 103.15 98.73 98.80 99.78 105.20 101.74 100.36 104.45 102.22 100.01 100.65 101.84 98.04 105.99 99.81 97.70 111.98 112.57 102.22 112.57 97.66 105.46

10-Oct-20

2.57

3.37

15.16

99.17

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.20

TOTAL MARKET CAPITALISATION

1.23

Sub-National Bonds BBB+/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

1.30 2.05 57.00 16.45 25.00 23.44 4.22 10.98 8.14 21.68 12.55 80.00 21.65 87.50 5.00 4.03 4.04 14.37 4.39 4.53 27.10 3.00 7.68

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

446.12 447.83

Corporate Bonds A+/Agusto; A-/GCR A-/Agusto Nil Nil Nil A/GCR BBB-/GCR Nil A-/DataPro†; CCC/GCR AAA/DataPro†; B/GCR A+/Agusto; A/GCR Bbb+/Agusto†; BBB+/GCR† BBB-/DataPro†; BB/GCR Nil A-/GCR A+/Agusto; A-/GCR Bbb/Agusto; A-/GCR BBB/GCR A/GCR BBB/GCR Bbb/Agusto; A-/GCR A/GCR A/GCR AAA/GCR

NAHCO FSDH ***LCRM UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA#{r} *FCMB NAHCO *TRANSCORP HOTELS PLC *FCMB UBA FIDELITY *TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.25 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

29-Sep-11 25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 30-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 06-Nov-15 14-Nov-13 04-Dec-15 20-Nov-14 30-Dec-14 13-May-15 26-Oct-15 30-Sep-14 30-Sep-14 29-Jul-15

13.00 14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.00 15.25 15.50 14.25 16.45 16.48 16.00 16.29 13.25 14.90

15.00 5.53 112.22 116.70 66.49 20.00 0.46 3.60 1.82 0.50 35.00 1.50 0.27 4.50 23.19 2.05 9.76 26.00 30.50 30.00 10.00 0.10 15.44 7.90

TOTAL OUTSTANDING VALUE

538.53

TOTAL MARKET CAPITALISATION

547.79

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

9.40

TOTAL OUTSTANDING VALUE

9.40

TOTAL MARKET CAPITALISATION

9.32

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.80

1.00

10.74

99.11

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.02

1.00

11.42

99.56

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 24.79 Description

Issue Date

Coupon (%)

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.65

7.44

96.46

97.28

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.59

5.18

99.04

99.89

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.90

7.72

91.74

92.63

19-May-16

17.19

0.50

99.44

100.39

Issuer

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,436.19

Corporate Eurobonds 7.50 MAY 19, 2016

B+/Fitch; B+/S&P

GTBANK PLC I

19-May-11

7.50

373.41

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.11

7.25

98.99

99.99

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

20.74

19.37

77.95

79.82

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.23

95.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.08

92.75

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

16.73

15.92

81.43

83.12

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

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

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

8.25 9.25 8.00

300.00 400.00 450.00

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

13.70 13.90 14.53

82.25 83.00 76.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,523.41 3,091.16 Description

Issuer

Issue Date

Yield @ Issue (%)

Outstanding Value (₦’bn)

Maturity Date

Commercial Papers Nil

GUINNESS NIGERIA

GUINNESS CP II 4-MAY-16

04-Nov-15

13.25

7.23

04-May-16

6.03

8.84

8.83

Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

04-Nov-15

13.75

2.77

29-Jul-16

6.18

13.90

13.42

TOTAL OUTSTANDING VALUE

10.00

**TREASURY BILLS^ DTM 9 23 30 37 44 51 58 65 79

FIXINGS Maturity 5-May-16 19-May-16 26-May-16 2-Jun-16 9-Jun-16 16-Jun-16 23-Jun-16 30-Jun-16 14-Jul-16

Bid Discount (%) 3.92 3.87 4.08 5.43 6.36 6.65 6.30 6.42 6.55

Offer Discount (%) 3.67 3.62 3.83 5.18 6.11 6.40 6.05 6.17 6.30

Bid Yield (%) 3.92 3.88 4.09 5.45 6.41 6.71 6.36 6.50 6.64

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 3.3542 8.1546 10.8609 12.6548

NITTY

Tenor

Rate (%)

OBB

3.00

O/N

3.33

Tenor Call 1M 3M

REPO

Rate (%) 3.33 4.50 5.33

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M 6M

199.24 199.13 199.32 199.90 200.88 202.43 207.10

199.34 199.65 199.85 200.44 201.47 203.68 209.09

^15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 ^16.00 29-JUN-2019 7.00 23-OCT-2019 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034 ^12.40 18-MAR-2036

WEDNESDAY, APRIL 27, 2016 NEW TOTALTELEGRAPH OUTSTANDING VALUE Rating/Agency

Issuer

Agency Bonds

Cutix and Honeywell led TOTAL MARKET CAPITALISATION other gainers to lift stock Sub-National Bonds market activities FMBN

TOTAL OUTSTANDING VALUE

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

Stories by Chris Ugwu

rading on the floor of the Nigerian Stock Exchange (NSE) returned on the upbeat after two days of downswing, as equities got a fillip from resumed bargain hunting activities across the board, closing with a gain of N20billion. TOTAL OUTSTANDING More than VALUE three stocks TOTAL MARKET CAPITALISATION gained for every one that lost Corporate Bonds with financial services stocks A+/Agusto; A-/GCR NAHCO A-/Agusto FSDH closing upbeat, as investor conNil ***LCRM Nil fidence returned. Nil The key market performance A/GCR UBA BBB-/GCR & I LEASING measures, the NSE All*C Share InNil *DANA A-/DataPro†; CCC/GCR *TOWER dex and market capitalisation AAA/DataPro†; B/GCR #{r}

*TOWER#

A+/Agusto; A/GCR Bbb+/Agusto†; BBB+/GCR† BBB-/DataPro†; BB/GCR Nil A-/GCR A+/Agusto; A-/GCR Bbb/Agusto; A-/GCR BBB/GCR A/GCR BBB/GCR Bbb/Agusto; A-/GCR A/GCR A/GCR AAA/GCR

17.25 FMB II 03-APR-2017

rose by 0.23 per cent following investors’ sustained optimism. 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016, the All-Share Consequently 10.00 LAGOS 19-APR-2017 Index gained 58.76 basis points 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 or 0.23 per30-SEP-2018 cent to close at 14.00 DELTA 14.00 NIGER II 4-OCT-2018 24,823.86 basis points, as against 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 24,765.10 recorded the previous ONDO 14-FEB-2019 day, 15.50 while the market capitali15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 sation of equities appreciated 14.75 OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 by N20 billion or 0.23 per cent 15.00 KOGI 31-DEC-2020 14.50 EKITI 31-DEC-2020trillion from to close at IIN8.538 15.00 NASARAWA 06-JAN-2021 N8.518 15.50 trillion. BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 Meanwhile, a turnover of 16.50 BENUE 27-FEB-2022 PLATEAU 30-MAR-2022 212.217.50 million shares exchanged 17.00 KOGI II 31-MAR-2022 in 3,240 deals was recorded in 17.00 CROSS RIVER 27-MAY-2022 the day’s trading. Banking subsector of the financial services sector was the 13.00 NAHCO 29-SEP-2016 FSDH 25-OCT-2016 most14.25 active (measured by turn0.00/16.00 LCRM 08-DEC-2016 LCRM IIwith 19-APR-2017 over0.00/16.50 volume) 100.7 million 0.00/16.50 LCRM III 06-JUL-2017 shares exchanged by investors 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 in 995 deals. MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 Volume in the subsector was MPR+5.25 TOWER 9-SEP-2018

*FCMB NAHCO *TRANSCORP HOTELS PLC *FCMB UBA FIDELITY *TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

1.00 1.25 1.35 2.09 3.17 3.49 3.80 5.75 7.88 9.74 12.59 13.07 13.57 14.24 18.23 19.89

11.08 11.19 11.24 11.57 12.06 12.29 12.51 12.33 12.68 12.82 12.90 12.91 12.92 12.94 13.05 13.22

10.93 11.06 11.11 11.49 11.95 12.17 12.41 12.26 12.62 12.76 12.85 12.86 12.86 12.89 13.01 13.17

103.72 98.44 97.68 98.39 110.10 85.34 108.89 116.33 107.40 98.20 112.89 97.35 72.01 81.03 93.73 94.27

BUSINESS |Financial Market News

103.87 98.59 97.83 98.54 110.40 85.64 109.19 116.63 107.70 98.50 113.19 97.65 72.31 81.33 94.03 94.57

6362.457269

igeria’s telecommunications sector contributed TOTAL OUTSTANDING VALUE N1.6 billion to the naTOTAL MARKET CAPITALISATION tion’s Gross Domestic Product (GDP) in the fourth quarter of Sukuk BBB-/Agusto *OSUN 2015, representing 8.88 per cent, TOTAL OUTSTANDING VALUE aTOTAL slight increase, relative MARKET CAPITALISATION to the 8.76 per cent contributed same Supranational Bond quarter the previousIFCyear. AAA/S&P Aaa/Moody's; AAA/S&P *AfDB of StaThe National Bureau TOTAL OUTSTANDING VALUE tistics (NBS) data on telecommuTOTAL MARKET CAPITALISATION nication obtained yesterday indicatedRating/Agency that on year-on-year, Issuer the FGN Eurobonds growth rate recorded was 3.49 BB-/Fitch; B+/S&P per cent, higher than the growth BB-/Fitch; rate of 2.48 per cent recordedFGN in BB-/S&P BB-/Fitch; the same quarter of 2014. BB-/S&P TheOUTSTANDING total number of GSM subTOTAL VALUE TOTAL MARKET scribers roseCAPITALISATION from 148 million at the end of Q3 2015 to an industry Corporate Eurobonds B+/Fitch;of B+/S&P GTBANK PLC I high 149.7 million in NovemB+/S&P ACCESS BANK PLC ber, but dipped to 148.6 million in B/Fitch; B/S&P FIDELITY BANK PLC B+/Fitch; B+/S&P 2015, NBS data GTBANK PLC December noted. B+/Fitch; BB-/S&P ZENITH BANK PLC The dip in total subscribers B/Fitch; B/S&P DIAMOND BANK PLC B-/Fitch; due B/S&P to a decline FIRST PLC was inBANK MTN B-/Fitch; B/S&P ACCESS BANK PLC II (from 62.4m to 61.2m) and B-/Fitch; B/S&P FIRST BANKEtiLTD B-/S&P ECOBANK NIG. LTD salat (from 23.4m to 22.1m), while TOTAL OUTSTANDING VALUE Glo and Airtel witnessed rise in TOTAL MARKET CAPITALISATION the number of subscriber base. On Rating/Agency a year-on-year basis, Issuer the number GSM subscribers rose Commercialof Papers

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.20

03-Apr-17

0.51

2.94

12.04

102.52

1.20

14.00 UBA II 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.25 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

Telecoms sector contributes N1.6bn to GDP Abuja

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

Stock market rebounds with N20bn gain Description

UBA *LA CASERA *CHELLARAMS# *DANA#{r}

Abdulwahab Isa

480.13 20.00 100.00 300.00 351.30 233.90 576.93 605.31 719.99 266.02 75.00 150.00 200.00 591.57 1075.92 80.00

6,408.58

BOOST

BBB+/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.4000

6,407.46

TOTAL MARKET CAPITALISATION

Nil

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

largely driven by activities in the shares of Access Bank Plc 30-Jun-11 14.00 30-Jun-09 15.50 and UBA Plc. 19-Apr-10 10.00 13.75 Premium30-Jun-10 subsector boosted 31-Dec-10 14.00 by activities in the shares 30-Sep-11 14.00 of 04-Oct-11 14.00 FBNH Plc and Zenith Bank Plc 09-Dec-11 14.50 12-Dec-13 14.00 of followed with a turnover 14-Feb-12 15.50 57.98 million02-Oct-12 shares in 66115.50 deals. 22-Nov-12 14.50 The number of gainers at the 12-Dec-12 14.75 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

1.23

close of trading session was 22, while decliners closed at seven. 1.30 30-Jun-16 0.18 2.05 30-Jun-16 0.18 Cutix Plc led the gainers’0.98 table 57.00 19-Apr-17 16.45 30-Jun-17 with 8.33 per cent to close at0.70 N1.43 31-Dec-17 1.68 per25.00 share, while Honeywell 23.44 30-Sep-18 1.49 Plc 4.22 04-Oct-18 1.51 followed with a gain of 5.19 per 10.98 09-Dec-18 1.47 8.14 12-Dec-18 1.48 cent to close at N1.42 per share. 21.68 14-Feb-19 1.66 AG12.55 Leventis Plc added 4.88 02-Oct-19 2.08per 80.00 22-Nov-19 3.57 cent to close at 86 kobo per share. 21.65 12-Dec-19 2.05 87.50 5.00 4.03 4.04 14.37 4.39 4.53 27.10 3.00 7.68

27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

On the other hand, Berger Paints Plc10.61 led the price losers’ 4.46 100.51 3.48 9.63 100.95 table, dropping 4.95 per cent to 1.00 12.00 98.19 5.71 15.58 98.79 close at N8.84 per share. Air 2.39 13.78 100.27 Service Plc with 4.65 1.00 12.30followed 102.19 1.00 12.31 per cent each to close102.20 at N1.64 3.82 15.11 99.19 3.56 share, 14.86 98.89 IBTC per while Stanbic 3.82 15.20 100.35 Plc with a loss of 3.78 per 2.02 trailed 13.59 103.25 2.96 15.28 97.87 cent to close at N13.76 per 1.00 12.55 103.78share.

4.59 4.68 2.71 2.74 3.97 3.53 3.55 4.03 6.46 3.65

1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

13.74 16.19 14.38 12.86 13.69 16.31 13.31 14.88 14.16 15.39

99.18 96.14 100.19 104.56 104.41 100.39 108.36 106.85 111.12 104.09

FBNH reports N22bn pretax profit in Q12016

BN Holdings Plc has posted Profit before tax of N22.1 billion for the first quarter ended March 29-Sep-11 13.00 31, 25-Oct-13 N26.9 billion 14.25 2016 as against 09-Dec-11 0.00/16.00 0.00/16.50 recorded in20-Apr-12 2015. 06-Jul-12 0.00/16.50 Also, profit after tax stood 30-Sep-10 13.00 at 30-Nov-12 18.00 N20.7 billion 09-Apr-11 compared with16.00 N22.6 09-Sep-11 18.00 billion recorded a year earlier. 09-Sep-11 16.00 Similarly, gross earnings 30-Sep-11 14.00 18-Oct-13 15.75 closed 15.2 17-Feb-12 per cent down y-o18.00 16.00 y to N107.501-Apr-14 billion as against 06-Nov-15 15.00 N126.8 billion posted in March 14-Nov-13 15.25 04-Dec-15 15.50 2015 driven 20-Nov-14 by a 12.4 per cent y14.25 16.45 o-y decline 30-Dec-14 in interest income 13-May-15 16.48 to N83.5 billion from N95.3 26-Oct-15 16.00bil30-Sep-14 16.29 lion in March 2015. 30-Sep-14 13.25 29-Jul-15 breadth, 14.90the In the same holding company recorded a 25.2 per cent y-o-y decline in non-interest income to N21.9 10-Oct-13 14.75 billion from N29.3 billion in March 2015. This, according to the management in a statement, is attribut11-Feb-13 10.20 10-Jul-14 11.25 able to the slow business environ-

from 136.6 million in December 2014 to 148.6 million in December 2015, while MTN remained the dominant player leading the market share by December 2015. On Internet segment of the market, GSM Internet subscriptions rose from 97.06 million at the end of Q3 2015 to 97.5 million 14.75 OSUN II 10-OCT-2020 in November before dropping to 97.03 million in December 2015 due to a decline in subscriptions in MTN while all other providers 10.20 IFC 11-FEB-2018 11.25 AFDBa 1-FEB-2021 witnessed rise in subscription. On porting activities, the NBS data showed that 2015 was a more Description Issue Date Coupon (%) active year for porting activities than 2014. Total incoming activi6.75 JANper 28, 2021 07-Oct-11 6.75 Nities increased by 42.88 cent angote Cement Plc, from 148,652 to 212,401. geria’s biggest listed 5.13 JUL 12, 2018 12-Jul-13 5.13 This was driven a 2023 large company , said it aims to 6.38 to JUL 12, 12-Jul-13 6.38 extent by Etisalat, which nearly double its production cagained 137,466 incoming por- pacity over the next three years ters in 2015 compared to 69,364 and half of its output by the end 7.50 MAY 19, 2016 in7.50 in 2014, representing an of 2019 will19-May-11 come from African 7.25 JUL 25, 2017 25-Jul-12 7.25 crease of 98.18 per6.88 cent. plants outside its home market. MAY 09, 2018 09-May-13 6.88 6.00 NOV 08, 2018 08-Nov-13 6.00 In the same vein, outgoing According to Reuters News, 6.25 APR 22, 2019 22-Apr-14 6.25 activities increased by 50.38 the company in a presentation 8.75 May 21, 2019 21-May-14 8.75 8.25 AUG 07, 2020 07-Aug-13 it plans8.25 per cent from 145,998 to 219,559 yesterday , said new 9.25/6M USD LIBOR+7.677 JUN 24, 2021 24-Jun-14 9.25 SWAP+6.488 23 2021 plants in Nigeria, between 20148.00/2Y andUSD 2015. ThisJULin23-Jul-14 which will 8.00 add AUG 14, 2021 14-Aug-14 8.75 crease was driven8.75mainly by between 9 million and 12 million MTN, which lost 125,515 porters tonnes to its existing capacity in 2015 compared to 67,039 in and will also expand production Description Issue DateLiberia, Yield @ Mali, Issue (%) 2014, representing an increase into Ivory Coast, Niger, Kenya and Zimbabwe. of 87.23 per cent.

ment and restricted trade flows. 446.12 The growth in net inter447.83 est income management explained, was 29-Sep-16 weakened by 15.00 0.43 the 5.53 25-Oct-16 0.50 12.4 per cent decline in interest 112.22 08-Dec-16 0.62 116.70 19-Apr-17 0.98 income to N83.5 billion from 66.49 06-Jul-17 1.19 N95.3 March 2015 20.00 billion30-Sep-17 1.43 fol0.46 30-Nov-17 0.88 lowing a decrease in loans and 3.60 09-Apr-18 1.20 1.82 09-Sep-18 1.37 advances to customers. 0.50 09-Sep-18 1.37 However, net interest income 35.00 30-Sep-18 2.43 1.50 18-Oct-18 1.48 increased by 7.2 per cent y-o-y to 0.27 17-Feb-19 1.56 4.50 billion from 01-Apr-19 1.68 in N63.9 N59.6 billion 23.19 06-Nov-20 2.28 March 2015; supported by 4.55 a 45.2 2.05 14-Nov-20 9.76 04-Dec-20 3.05 per26.00 cent y-o-y 20-Nov-21 decline in interest 5.57 30.50 30-Dec-21 5.68 to expenses from N35.7 billion 30.00 13-May-22 6.04 N19.6 This according 10.00 billion. 26-Oct-22 4.22 to 0.10 8.43 the15.44 statement,30-Sep-24 was driven by a de30-Sep-24 8.43 7.90 29-Jul-30 9.56maliberate strategy to re-price 538.53 turing wholesale deposits lower. 547.79 “Consequently, interest expenses on customers’ deposits, 9.40 10-Oct-20 2.57 now constitutes 76.7 per cent of 9.40 total interest and similar expens9.32 es from 85.0 per cent in March 2015; of interest 12.00the proportion 11-Feb-18 1.80 12.95 01-Feb-21 expense on borrowings to3.02 total

interest expense increased to 18.0 per cent from 13.2 per cent a year earlier while interest to banks makes up 9.64 the balance 101.33 of 5.3 per 1.00 1.34 cent from10.38 1.8 per cent 101.83 in March 1.00 10.53 103.15 6.96 98.73 2015,” the 17.96 statement added. 6.41 17.58 98.80 had reported a 1.88The group 13.15 99.78 1.88 12.48 105.20 profit before tax of N21.5 bil3.15 14.32 101.74 6.35 17.60 100.36 lion for the full year ended De1.00 12.25 104.45 cember 31, 2015 down102.22 77.1 per 1.17 12.89 4.42 15.72 100.01 cent year-on-year from N94.1 6.11 17.44 100.65 3.28 14.67 billion posted in 2014.101.84 4.47 16.13 98.04 after tax 105.99 stood at 1.00Profit 13.44 3.55 15.56 N15.1 billion, down 99.81 82.0 per 2.51 14.86 97.70 1.00 13.36 111.98 N84.0 cent year-on-year from 1.00 13.38 112.57 billion in15.24 2014. 2.77 102.22 1.00 13.72 112.57 Gross earnings increased by 1.00 13.72 97.66 1.00 per cent 13.80 y-o-y to N505.2 105.46 4.9 billion in 2015 from N481.8 billion in 2014, driven by a 9.3 per cent y-o-y growth in interest income 3.37 99.17 to N396.2 15.16 billion; supported by growth in increased interest income on loans to customers by 8.2 y-o-y as well99.11 as higher 1.00 per cent 10.74 1.00 11.42 99.56 volumes in treasury activities.

24.95 24.79

Dangote Cement to double production capacity

Nil

GUINNESS NIGERIA

GUINNESS CP II 4-MAY-16

04-Nov-15

13.25

Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

04-Nov-15

13.75

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

Prices & Yields

500.00 28-Jan-21 7.65 Plants in Republic of Congo and Sierra Leone 500.00 12-Jul-18 will become 5.59 operational this year, it said. 500.00 12-Jul-23 7.90 The company, which cur1,500.00 1,436.19 has an annual producrently tion capacity of 43.6 million 373.41 19-May-16 17.19betonnes, targets output of 350.00 25-Jul-17 8.11 tween 74 million and 77 million 300.00 02-May-18 20.74 400.00 tonnes by the08-Nov-18 end of 2019.8.23 500.00 22-Apr-19 9.08 It has invested more16.73 than 200.00 21-May-19 300.00 07-Aug-20 13.70 its $5 400.00 billion to expand outside 24-Jun-21 13.90 home in the past few 450.00 market 23-Jul-21 14.53 250.00 14-Aug-21 12.23 years. Dangote said he targeted 3,523.41 100 million tonnes of capacity 3,091.16 by 2020. Outstanding Value DTM Date secured In April, Maturity Dangote a (₦’bn) $2 billion loan from Industrial

7.44 96.46 Bank of China 97.28 Commercial Ltd (ICBC) for two cement plants. 5.18 99.04 99.89 It has also91.74 signed construction 7.72 92.63 deals with China’s Sinoma International Engineering Co. Dangote reported a 22.3 per 0.50 100.39 cent fall 99.44 in first-quarter pre7.25 98.99 99.99 tax profit to N54.5 billion ($274 19.37 77.95 79.82 8.23 95.00 Monday95.00 million) last but said 9.08 92.75 92.75 its net debt had fallen to N148.7 15.92 81.43 83.12 13.70 82.25 82.25 billion in the first quarter from 13.90 83.00 83.00 N204.2 billion in December. 14.53 76.00 76.00 11.76 84.88 Sales from outside86.63 of Nigeria increased to 24 per cent of total revenue during the three Risk Valuation Yield Rate (%) 12 Premium months to(%)MarchDiscount 31, from (%) per cent a year ago, it said. #

7.23

04-May-16

6.03

8.84

8.83

2.77

29-Jul-16

6.18

13.90

13.42

26-Apr-16

10.00

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the Money “Information”). not constitute professional, financial or **TREASURY BILLS^ FIXINGS Market The Information does Foreign Exchange (Spot & Forwards) investment advice. Information is accurate; however, the Information is provided “AS IS” (%) and on an Bid “ASYield AVAILABLE” basis and may not be accurate or up to date. the accuracy, timeliness, completeness, performance DTM We attempt to ensure the Maturity Bid Discount (%) Offer Discount (%) TenorWe do not guarantee Rate (%) NIBOR 9 5-May-16 3.92 3.67 3.92 or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information. OBB 3.00 Tenor Bid ($/N) Offer ($/N) 23 30 37 44 FGN Bonds 51 58 65 Rating/Agency 79 86 93 100 107 114 128 135 149 163 170 177 184 191 NA 205 219 233 254 268 282 296 310 324 331 345 TOTAL OUTSTANDING 359

19-May-16 26-May-16 2-Jun-16 9-Jun-16 16-Jun-16 23-Jun-16 30-Jun-16 Issuer 14-Jul-16 21-Jul-16 28-Jul-16 4-Aug-16 11-Aug-16 18-Aug-16 1-Sep-16 8-Sep-16 22-Sep-16 6-Oct-16 13-Oct-16 20-Oct-16 27-Oct-16 3-Nov-16 NA 17-Nov-16 1-Dec-16 15-Dec-16 5-Jan-17 19-Jan-17 2-Feb-17 16-Feb-17 2-Mar-17 16-Mar-17 23-Mar-17 6-Apr-17 20-Apr-17

VALUE

3.87 4.08 5.43 6.36 6.65 6.30 6.42 Description 6.55 7.73 13.05 16-AUG-2016 7.57 7.62 ^15.10 27-APR-20177.62 9.85 27-JUL-2017 7.77 9.35 31-AUG-2017 8.78 8.82 10.70 30-MAY-2018 8.65 ^16.00 29-JUN-20199.06 7.00 23-OCT-2019 8.76 8.72 ^15.54 13-FEB-20208.68 ^16.39 27-JAN-20229.08 ^14.20 14-MAR-20249.31 8.98 ^12.50 22-JAN-20268.41 15.00 28-NOV-2028 9.05 9.43 12.49 22-MAY-2029 9.73 8.50 20-NOV-2029 9.55 ^10.00 23-JUL-20309.91 9.58 ^12.1493 18-JUL-2034 ^12.40 18-MAR-20369.97 10.12 10.18

3.62 3.83 5.18 6.11 6.40 6.05 6.17 Issue 6.30Date 7.48 7.32 16-Aug-13 7.37 27-Apr-12 7.37 7.52 27-Jul-07 8.53 31-Aug-07 8.57 30-May-08 8.40 8.81 29-Jun-12 8.51 23-Oct-09 8.47 13-Feb-15 8.43 8.83 27-Jan-12 9.06 14-Mar-14 8.73 22-Jan-16 8.16 8.80 28-Nov-08 9.18 22-May-09 9.48 20-Nov-09 9.30 9.66 23-Jul-10 9.33 18-Jul-14 9.72 18-Mar-16 9.87 9.93

3.88 4.09 5.45 6.41 6.71 6.36 6.50 Coupon 6.64 (%) 7.87 7.72 13.05 7.78 15.10 7.80 7.96 9.85 9.06 9.35 9.12 10.70 8.97 9.44 16.00 9.13 7.00 9.11 15.54 9.07 9.53 16.39 9.83 14.20 9.49 12.50 8.89 9.65 15.00 10.13 12.49 10.52 8.50 10.35 10.82 10.00 10.47 12.1493 10.96 12.4000 11.19 11.32

Bonds

TOTAL MARKETbonds, CAPITALISATION *for the Amortising the average life is calculated and not the TTM Description

Issuer

Issue Date

FMBN

TOTAL OUTSTANDING VALUE

Modified Duration Buckets

TOTAL MARKET CAPITALISATION Sub-National Bonds BBB+/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR

O/N

Outstanding Value Maturity Date (₦’bn) NITTY Tenor 581.39 1M 480.13 2M 3M 20.00 6M 100.00 9M 300.00 12M

3.33

REPO

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

Rate (%) 16-Aug-16 3.9981 27-Apr-17 6.3529 7.7242 27-Jul-17 9.1316 31-Aug-17 10.0636 30-May-18 10.8332

351.30 29-Jun-19 233.90 23-Oct-19 576.93 NIFEX 13-Feb-20 Current Price ($/N) 605.31 27-Jan-22 BID($/N) 199.0000 719.99 14-Mar-24 OFFER ($/N) 199.1000 266.02 22-Jan-26 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 1075.92 18-Jul-34 80.00 18-Mar-36

Rate (%) 3.33 4.50 Bid5.33 Yield 6.17

(%)

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE

<3 3<5 >5 Market

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

0.31 7.98 7.50 1.00 11.08 10.93 :Benchmarks 1.25 11.19 11.06 * :Amortising Bond 1.35 11.24 11.11 µ :Convertible Bond 2.09Management Corporation 11.57 11.49 AMCON: Asset of Nigeria FGN: Federal Government of Nigeria 3.17 12.06 11.95 FMBN: Federal Mortgage Bank of Nigeria 3.49 12.29 12.17 IFC: International Finance Corporation 3.80 12.51 Management 12.41 LCRM: Local Contractors Receivables NAHCO: Nigerian 5.75 Aviation Handling 12.33 Company 12.26 O/N: Overnight 7.88 12.68 12.62 UPDC: UAC Property Development Company 9.74Africa Portland Cement 12.82 Company 12.76 WAPCO:West 12.59 12.90 12.85 13.07 12.91 12.86 13.57 12.92 12.86 14.24 12.94 12.89 18.23 13.05 13.01 19.89 13.22 13.17 NOTE:

6,407.46

199.24 199.13 199.32 199.90 200.88 202.43 Bid Price 207.10 215.68

199.34 199.65 199.85

Price200.44

201.47 203.68 Offer Price 209.09 221.14

101.46 101.61 103.72 103.87 NA :Not Applicable 98.44 98.59 ^ : Market Prices 97.68 97.83 # : Floating Rate Bond 98.39 98.54 ***: Deferred coupon bonds DTM: Days-To-Maturity 110.10 110.40 TTM: Term-To-Maturity 85.34 85.64 ‡ : Bond rating under review 108.89expired 109.19 †: Bond rating N/A :Not 116.33 Available 116.63 {r} :Issuer in receivership 107.40 107.70 NGC: Nigeria-German Company 98.20 98.50 UBA: United Bank for Africa 112.89 113.19 97.35 97.65 72.01 72.31 81.03 81.33 93.73 94.03 94.27 94.57

6362.457269

Coupon (%)

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

FMDQ FGN BOND INDEX

Agency Bonds Nil

Rate (%) 3.3542 8.1546 10.8609 12.6548

6,408.58

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

Rating/Agency

Tenor O/N 1M 3M 6M

17.25 FMB II 03-APR-2017

Porfolio Market Value (₦’bn)

993.23 1,477.42 1,487.78 3,958.43

03-Apr-12

Total Outstanding Volume (₦’bn)

Weighting by Outstanding Volume

908.23 1,325.30 1,667.49 3,901.02

23.28 33.97 42.74 100.00

30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12

17.25

Weighting by Mkt Value

25.09 37.32 37.59 100.00

14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50

1.20

Bucket Weighting

1.20

1.23 0.23 1.30 2.05 57.00 16.45 25.00 23.44 4.22 10.98 8.14 21.68 12.55

0.34 0.43 1.00

03-Apr-17

% Exposure_ Mod_Duration

12.48 29.35 58.18 100.00

30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19

0.51

Implied Yield

12.35 12.53 13.02 12.79

0.18 0.18 0.98 0.70 1.68 1.49 1.51 1.47 1.48 1.66 2.08

Risk Premium (%) 2.94

Implied Portfolio Price

136.4002 151.2460 114.4328 132.0539

4.46 3.48 1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02

Valuation Yield (%) 12.04

INDEX

1,240.93 1,311.21 1,379.60 1,257.50

10.61 9.63 12.00 15.58 13.78 12.30 12.31 15.11 14.86 15.20 13.59

Modelled Price

102.52

YTD Return (%)

12.0122 29.4933 36.9993 19.1733

100.51 100.95 98.19 98.79 100.27 102.19 102.20 99.19 98.89 100.35 103.25

NEWS | national

Lawmaker's assault: Reps want prisons official sacked Philip Nyam Abuja

he House of Representatives Committee on Interior, which investigated the alleged assault on their colleague, Hon. Onyeamachi Mrakpor, has recommended the sack from service of the prison officer, SIP Idaa Odeh.

Odeh was found guilty by the committee for assaulting Mrakpor on Wednesday, April 20, while the convoy of the Comptroller General of Prisons, Peter Ekendu, had a clash with the lawmaker on their way out of the National Assembly. The Interior Committee led by Hon. Jagaba Adams Jagaba, has recommended the immediate sack and prosecution

CONFIRMATION/change OF NAME

Kasali

This is to inform the general public that I ,Alimi Idiat Oyesanmi married on 19th January, 2006 and divorced Mr. Kasali Hammed Babatunde on 8th December 2010. General public take note.

Adetunji

I formerly known and addressed as Maria Olawanile now wish to be known and addressed as Maria Olawanile Oluwanbe Adetunji. All former documents remain valid. General public note.

Epelebri

I formerly known and addressed as Wilfred Dennis now wish to be known and addressed as Joseph Epelebri. All former documents remain valid. General public should take note.

Olugbo

I formerly known and addressed as Odumangi Havanah now wish to be known and addressed as Olugbo Havanah. All former documents remain valid. The general public should please take note.

Captain

I formerly known and addressed as Peribo Okuku now wish to be known and addressed as Captain Shedrack. All former documents remain valid. The general public should take note.

Owili

I formerly known and addressed as Benson Felicia .O. now wish to be known and addressed as Felicia Owili. All former documents remain valid. General public should take note.

Ernest

I formerly known and addressed as Miss Onyendima Ekeh now wish to be known and addressed as Mrs. Blessing Ernest. All former documents remain valid. The general public should please take note.

Zibiye

I formerly known and addressed as Olotu Paul now wish to be known and addressed as Olotu Paul Zibiye. All former documents remain valid. Diamond bank Plc and the general public should please take note.

Jonah

This is to confirm that Jonah Gboroila Munemune with which my Diamond bank/ BVN was registered is the same person Jonah Munemune on my Union bank Plc. That henceforth I wish to be known and addressed as Jonah Gboroila Munemune. All former documents remain valid. Union bank Plc and the general public should take note.

Idem

I formerly known and addressed as Mrs Nneka Cornelius Akpan (Nee Nneka Enefiok Umoren) now wish to be known and addressed as Mrs Nneka Enobong Benson Idem. All former documents remain valid. INEC, NOUN, Akwa Ibom State Polytechnic, Ikot Osurua and general public please take note.

Oyetunji

I formerly known and addressed as Azeez Taiwo Saudat now wish to be know and addressed as Oyetunji Abigeal. all former documents remain valid. Skye bank and general public note.

Omietimi

I formerly known and addressed as Dazan Sampson now wish to be known and addressed as Omietimi Marian Mienfaghe. All former documents remain valid. UBA and the general public should please take note.

Olakunle

I formerly known and addressed as Olatunji Saheed now wish to be known and addressed as Olatunji Saheed Olakunle. All former documents remain valid. The general public should please take note.

Jeremiah

I formerly known and addressed as Idumu Adi Maureen now wish to be known and addressed as Jeremiah Dora. All former documents remain valid. The general public should please take note.

Ode

I formerly known and addressed as Tumodei Etemewei now wish to be known and addressed as Ode Rachael. All former documents remain valid. The general public take note.

Kedikeme

I formerly known and addressed as Freedom Samuel now wish to be known and addressed as Kedikeme Samuel. All former documents remain valid. The general public should please take note.

Friday

I formerly known and addressed as Ernest Victoria Etuke Akpan now wish to be known and addressed as Victoria Akpan Friday. All former documents remain valid. Union bank Plc and the general public should please take note.

Ebiegberi-Isaiah

I formerly known and addressed as Jennifer Charity Ebiegberi now wish to be known and addressed as Ebiegberi-Isaiah Jennifer Charity. All former documents remain valid. UBA Plc and the general public should take note.

Akpan

I formerly known and addressed as Samuel Sampson Ayadu now wish to be known and addressed as Samuel Sampson Akpan. All former documents remain valid. First Bank Of Nig. Plc and general public please take note.

Okenwa

I formerly known and addressed as Onwuchekwa Franklin Chima now wish to be known and addressed as Onwuchekwa Franklin Okenwa All former documents remain valid. The general public should please take note.

of SIP Idaa Odeh and numerous redeployment of security personnel in the National Assembly. It also recommended that another prisons staff, the ACG Budget and Finance," who came down from his vehicle and confronted the lawmaker is culpable under the Legislative (Powers and Privileges) Act and should therefore be disciplined. The committee recommended that another staff, Shehu Kangiwa, "be arrested and tried in accordance with sections 11 and 16 of Legislative Houses (Powers and Privileges) Act. He should also be demoted," he report states. The report of the committee, which was sub-

mitted on the floor of the House and obtained by New Telegraph reads thus; "From the testimonies of six credible witnesses, it is established beyond reasonable doubt that SIP Idaa Odeh with service number 40258, assaulted Hon. Onyemachi Mrakpor, and is therefore guilty of an offence under Section 16 of the Legislative Houses (Powers and Privileges) Act. "SIP Idaa with service number 40258 should be arrested and tried in accordance with Section 16 of the Legislative Houses (Powers and Privileges) Act by the Attorney General of the Federation. He should be dismissed from the service with immediate effect.

UI shut indefinitely over violent protest Sola Adeyemo Ibadan

ollowing the disruption of academic activities on its campus yesterday by some students, who protested the rustication of one of their colleagues, the authorities of the University of Ibadan has shut the institution indefinitely. The students had on Thursday, November 19, 2015, protested the lack of power and water in their halls of residence. According to the Director of Communication in the institution, Mr. Muhammed Oladejo, the protest was led by Tunji Epeti Michael, of the Department of Petroleum Engineering, Faculty of Technology, who was supposed to be on industrial attachment in Port Harcourt then. Following the act, the university announced

Tunji, a 500 Level student’s rustication for a semester. The decision angered the students, who mobilised and chased the students from their lecture halls on Monday. They barricaded some of the roads within the institution, but proceeded to barricade the entrance to the institution later. The Vice-Chancellor of the university, Prof. Abel Olayinka, disclosed the decision to close the school yesterday, saying that it was painful but noted that the violent protests had led to a situation where lifethreatening acts and text messages had been sent and received around the campus with some students allegedly covering their faces during the protest. He added that the students were to leave the university campus by 4pm latest yesterday; failure which any students found on campus would be expelled.

Osinbajo: We’re working on ‘change’promise Biodun Oyeleye Ilorin

he Federal Government yesterday pledged a commitment to actualise every bit of the change mantra that pushed the All Progressives Congress (APC) into governance last year. The Vice-President, Prof. Yemi Osinbajo, who gave the pledge while laying the foundation for the construction for a multibillion steel project in Ilo-

rin, Kwara State, said one of such areas would be improving the ease of doing business in the country. The project is owned by KAM Industries Limited and was described as the single largest indigenous investment in the steel sector in Nigeria. Osinbajo said President Muhammadu Buhari has given the economic team the green light to ensure that Nigeria gets a more positive rating on the global index on the ease of doing business.

wednesday, APRIL 27, 2016 NEW TELEGRAPH

Metuh hospitalised after minor accident Onyekachi Eze ABUJA

he National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh was yesterday rushed to National Hospital Abuja after a minor accident. Metuh, who was about to take his seat during the inauguration of caretaker committees for Borno and Kebbi States slipped off from the swivel chair reserved for him. It took about five minutes before he could be helped up by two policemen attached to the office of the National Chairman. He was assisted to his car through the back gate and was immediately rushed to the hospital. At the time of filling this report, his health condition was not yet known. A source however, said Metuh has been complain-

ing of waist pain before the accident. PDP National Chairman, Senator Ali Modu Sheriff, who inaugurated the committees, charged the members to be upright, steadfast and impartial in their assignments. Sheriff, however, warned against disenfranchising party members during the congresses, adding that "because of the volatility of the states, we will use new membership cards but old membership register." The committees, which are headed by Alhaji Rilwan Dauda (Borno) and Hon. Ibrahim Shehu Gusau (Kebbi), are charged with the responsibility of conducting party congresses in the two states, which begin this weekend. Meanwhile, the National Women Leader, Dr. Kema Chikwe, announced her decision not seek reelection in next month's national convention.

APC to Nigerians: Resist tyrant, fascist leaders Johnchuks Onuanyim Abuja

he All Progressives Congress (APC) yesterday urged Nigerians to resist any leadership that is tyrannical and fascism oriented. The Deputy National Chairman of the party, Chief Segun Oni, gave the charge at the national secretariat of the party in Abuja while addressing the media on happenings in Rivers State. He also called on the

Speaker of the Rivers State House of Assembly to swear in Hon. Victoria Wobo Nyeche, representing Port Harcourt 1 state constituency on the platform of the APC. According to Oni, every leader, notwithstanding his party must abide by the constitution of the land. The party chieftain, who spoke after a meeting with some APC chieftains from Rivers State, cautioned against people disregarding judgements of the courts as they affect elections matters.

Army: Boko Haram now use green uniform Emmanuel Onani Abuja

he Nigerian Army yesterday said Boko Haram fighters have now adopted the green colour with ropes on their necks and legs as their uniform and a form of identification. A statement by the Acting Director, Army Public Relations Officer (DAPR), Col. Sani Usman, said troops of 22 Brigade Garrison and elements of 3 Battalion, made the discovery during clearance operations. The Army said two suspected members of the sect were arrested in their new form of identification, at a time the force said it was at the last stage

of the counter-terrorism and counter-insurgency operations. "Troops of 22 Brigade Garrison and elements of 3 Battalion that went out on a long range of fighting patrol yesterday, Monday, April 25, 2016, to Gima village in Ngala Local Government Area made a startling discovery as Boko Haram terrorists now have new means of identification. "The patrol came in contact with some elements of the Boko Haram that started escaping in disarray on sighting the team. "However, they were able to apprehend two of the terrorists in their new styled uniform of green colour and the use of ropes on their legs and necks."

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Sad day in Ekiti, as Fayose receives remains of dead doctors Sulaiman Salawudeen Ado-Ekiti

t was indeed a sad day for the entire people of Ekiti and the immediate families of the six medical doctors and a driver who died in an auto crash as their bodies arrived late yesterday and were received by state Governor Ayodele Fayose. The doctors along with a driver had met their untimely death in an auto crash along Kaduna Road on their way to Sokoto on Sunday, to attend the

Annual General Meeting (AGM) of the Nigeria Medical Association (NMA). The six doctors include: Alex Akinyele, Tunde Aladesanmi and Adeniyi James of the Federal Teaching Hospital, IdoEkiti (FETHI); Ojo Taiwo and Dr. Olajide of the Ekiti State University Teaching Hospital (EKSUTH); Nigeria Medical Association (NMA) Secretary; Dr John Ogunseye of the Health Management Board, Ekiti State; and a driver, Mr. Moses Ajibola of FETHI.

The remains of all the seven, in six ambulances arrived the state in a motorcade about 7pm from Akure and was received by the governor who led the convoy accompanied by top officials of the state. The governor led the convoy bearing the remains of the deceased from Fajuyi Roundabout to the EKSUTH mortuary, a distance of about half a kilometre, where the bodies were deposited. The motorcade was accompanied by security agents men including policemen, officials of the Federal Road Safety Corps,

‘Lagos’ housing demand hits 2.55m’ Muritala Ayinla

agos State government has said that its housing deficit is 2.55million, assuring residents that efforts are ongoing to bridge the gap and address the housing needs of the residents. Hence, the government, which also said that 187,500 new homes are required over the next five years to reduce the deficit, disclosed that 50 housing units would

be built in each of the 57 local government and Local Council Development Areas by the Akinwunmi Ambode administration. Briefing journalists on the score-card of the administration in the housing sector, the state Commissioner for Housing, Prince Gbolahan Lawal, who made the disclosure, said the 2.55million housing deficit in the state was the finding of the Housing Needs Assement Survey by TNS RMS Nige-

ria Limited. Gbolahan also disclosed that the State Executive Council has approved Rentto-Own policy which is aimed at making housing more accessible and affordable particularly to low and medium income earners in both formal and informal sectors. He said that individual are required to pay five percent of the value of the housing unit as commitment, adding that the pay-

Nigeria Security and Civil Defense Corps and officials of the Department of State Services (DSS). Among those who received the deceased were the six survivors of the accident, which include the state chairman of the NMA, Dr. John Akinbote. Some residents, including elderly and youths lined the road along several others to mourn the the deads. Several people wailed uncontrollably wondering why such a fate should befall the families of the victims.

ment is spread over 10 years at six percent interest rate. He explained that the increasing population, high cost of building materials, non-deployment of new technology, proliferation of slums, environmental degradation and scarcity of readily developable land, are major problems confronting mass housing delivery in the state. He said that the state government would ensure that all ongoing housing projects by the last administration would be completed before embarking on another one.

News|SOUTH-WEST

41 Bailout fund: Ondo rejects ICPC report, demands retraction

he Ondo State government has asked the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to correct itself over the misinformation published on the bailout received by the state government to offset part of its workers’ salaries. The government, in a statement issued by its Commissioner for Information, Mr. Kayode Akinmade, described the report as misleading, stating that the state government added N50m to the bailout fund before it could meet the payment of outstanding salary arrears till June 2015. Government said the bailout fund it collected was N9.443.06, which was augmented with N50 million which brought

the total disbursement to N9.493.91. According to him, all relevant documents and bank transfers on the disbursement of the fund were presented to ICPC officials that came to monitor the disbursement of the fund. “Each claim of payment was investigated and confirmed to be true by the ICPC investigating team and at the end of its visit the government was commended for its effective operation, clinical and accurate disbursement of the said fund,” the statement said. Akinmade further stated that the labour union leaders in the state were dully briefed and approved of the disbursement process.

PUBLIC NOTICE

SHEPHERD APOSTOLIC BIBLE CHURCH OF GOD

The general public is hereby notified that the above named ministry has applied for registration with the Corporate Affairs Commission Abuja, Under Part “C” of the Companies and Allied Matter Act 1990. The Trustees are: 1. Apostle Emmanuel Akporue 2. Pastor (Mrs.) Rachael Akporue 3. Deaconess Dickson Judith 4. Mr. Orioma Godspower 5. Mr. Precious Akporue 6. Mrs. Ideh Eseoghene Janet 7. Barrister Ovah Frederick Oghale

–Founder/General Overseer –Assistant General Overseer –Secretary –Member –Member –Member –Member

AIMS AND OBJECTIVES 1. To teach and preach the gospel of Christ Jesus all over the world. 2. To hold crusades, conferences and seminars for self improvement. Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: Evang. Edwin Emojevu

PUBLIC NOTICE

TRIUMPHANT CHRIST BIBLE CHURCH Lagos State Deputy Governor, Dr. Idiat Oluranti Adebule (right), with the wife of late former Lagos Deputy Governor, Mrs. Mosunmola Jafojo, during a condolence visit to the residence of Alhaji Rafiu Jafojo, in Ikeja, Lagos

Court orders Synagogue engineers be remanded in prison Akeem Nafiu

ustice Lateef LawalAkapo of an Ikeja High Court has sent the two engineers indicted over the collapse of a guest house belonging to the Synagogue Church of All Nations (SCOAN) back to Kirikiri Maximum Prison pending when ruling on their bail applications will be delivered. The judge adjourned till May 3 for ruling on the engineers’ bail applications following arguments by their lawyers. It would be recalled that the two engineers, Oladele Ogundeji and

Akinbela Fatiregun, were last week remanded in prison pending the hearing of their applications for bail yesterday. Their hope of regaining freedom yesterday was, however, dashed owing to the inability of the judge to deliver ruling on their bail applications. Fatiregun’s lawyer, Titi Akinlawon (SAN), while arguing her client’s application dated April 19, 2016 brought pursuant to Section 115 of Section 2 of the Administration of Criminal Justice Law, disclosed that the offences committed by the defendant are bailable offences.

“He has been charged for the same offences at the Magistrate Court and he did not jump bail. So if granted bail now, he will also not jump bail,” she argued. Ogundeji’s lawyer, Olalekan Ojo, in his submissions, argued that if his client is granted bail, he will be in the best position to prepare for his trial. However, the prosecution lawyer and the Directorate of Public Prosecution (DPP), Mrs. Idowu Alakija, urged the court not to grant bail to the defendants. She argued that even though it is within the

court’s discretion to either grant bail or not, ‘the 4th defendant (Ogundeji) does not have an address within the jurisdiction of the court and therefore may jump bail if granted.

800

The total number of houses to be demolished for the construction of the proposed Lagos’ Fourth Mainland Bridge. Source: Nation Newspaper

The number of refugees and people in refugee-like situation assisted by UNHCR in Macedonia at the beginning of 2010. Source: Blatantworld.com

This is to inform the General Public that the above named has applied to the Corporate Affairs Commission Abuja for registration of trustees under Part C of the Companies and Allied Matters Act 1990 (as amended. The Trustees are: 1. Noah Emagbehinaiye Mekuleyi –General Overseer 2. Adediran Olusesan Wale –General Secretary 3. Animasaun Yinka –Treasurer 4. Awe Michael Olusesan 5. Olumuyiwa Oluwatayo Paul

AIMS AND OBJECTIVES 1. To propagate the word of God through the gospel of Jesus Christ. 2. To liberate the word through the gospel of Lord Jesus Christ. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: TRUSTEES

PUBLIC NOTICE

LIGHTHOUSE WOMEN'S FOUNDATION

The general public is hereby notified that the above named FOUNDATION has applied to the Corporate Affairs Commission (CAC), Abuja for registration under Part 'C' of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Nkiru Olumide-Ojo 2. Olumide Olanrewaju Ojo 3. Yomi Badejo Okusanya 4. Olubunmi Oke

5. Francesca Uriri

AIMS AND OBJECTIVES 1. By catering for the welfare of women in achieving, completing and maximizing their innate potentials 2. By creating an enabling environment for women to interface and support one another in achieving and maximizing their potentials 3. By helping women light up their lives and the lives of others in their environment and community 4. By helping women make positive changes in their community which include their living areas, business areas and for career women, their places of work 5. Mentoring women and ensuring that the mentored women mentor the younger generation and these mentorship in all areas and spheres of live shall be passed from one generation to another 6. to help women with skills, resources, practical tools and information on parenting, marriage and family life 7. To organize forums, talk shows, seminars, workshops on parenting and family life. 8. By training and collaborating with the other similar bodies in achieving its goals and objectives 9. To train and collaborate with the other similar bodies in achieving its goals and objectives. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: TRUSTEES

News|south-EAST

Abia schools begin working strike over salary arrears Igbeaku Orji Umuahia

rimary and secondary school teachers in Abia State have embarked on a warning strike over the non-payment of their salary arrears. Primary school teachers in the state claimed that they are being owed salary arrears from February while their counterparts in the secondary school said they are owed since January. The schools which were supposed to reopen on Monday, April 18, have had the reopening date shifted by another one, a development believed to be a tactic by the state government to explore the possibility of offsetting the arrears before another resumption date. Following the resump-

tion of the schools on April 25, without government fulfilling its obligation on the payment of the teachers’ salary arrears, the state branch of the Nigerian Union of Teachers (NUT) directed them to proceed on a three-day warning strike. When New Telegraph visited the state secretariat of the NUT at Awkuzu Lane Umuahia yesterday, the Chairman of the union, Comrade Chizobem Akparanta, was said to be away. The Head Teacher of Amuzukwu Primary School 11, Mrs. Joyce Emele, however, told our correspondent that the NUT ordered teachers to stay away for three days as a warning strike after which they would embark on strike, if government still failed to offset the teachers’ salary arrears.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Court dismisses Kanu’s prayer for stay of proceedings Tunde Oyesina Abuja

Federal High Court sitting in Abuja, yesterday dismissed the application brought before it by the leader of the Indigenous People of Biafra (IPOB) Mr. Nnamdi Kanu, seeking a stay of proceedings in the case instituted by the Federal Government against him, pending the determination of his appeal. Kanu had approached the appellate court challenging the earlier decision of the court upholding the prosecution’s request to shield witnesses from the

public during trial. The presiding judge, Justice John Tsoho, held that the application for stay of proceedings lacked merit and ordered that the trial would proceed in the mode earlier directed by the court. Kanu and his co-defendants are standing trial on a six-count charge of treasonable felony, unlawful possession of firearms and other offences bordering on their agitation for secession of the Republic of Biafra from Nigeria. Tsoho relied on the provisions of Section 306 of the Administration of the Criminal Justice Act, 2015, which prohibits courts from

entertaining a motion for stay of proceedings with respect to criminal cases. Contrary to the contention of Chuks Muoma (SAN), Kanu’s lawyer, Tsoho held that the provision of section 306 of ACJA could not deny an accused person fair hearing. The judge held that the provision of the ACJA, was to enhance the right to speedy trial, guaranteed an accused person in the constitution. “Section 306 of ACJA removes hitches to speedy trial, which is a component of fair hearing,” he said. The judge also distinguished the trial of the Bi-

afra agitators from that of the Senate Prsident, Bukola Saraki. In Saraki’s case, the Supreme Court after the advent of the ACJA had last year granted an order for stay of proceedings in his trial before the code of conduct tribunal. Tsoho held that the prevailing circumstances informing the decision of the Supreme Court to grant stay of proceedings on Saraki’s case was not available in the Kanu’s case. He said in Saraki’s case, the issue of whether the cases entertained by the CCT were criminal in nature or not was still to be determined by the Supreme Court, and was not available in the case before him. He explained that it was not in doubt that the Federal High Court had jurisdiction to hear criminal cases.

PUBLIC NOTICE

TEXAS ESTATE LANDLORDS ASSOCIATION, PORTHARCOURT

The general public is hereby notified that the above named has applied for registration with the Corporate Affairs Commission Abuja, Under Part “C” of the Companies and Allied Matter Act 1990. The Trustees are: 1. Mr. Kingsley Mac Anthony 2. Mr. Joseph Agu. 3. Engr. Okonkwo Peter Sunny. 4. Mr. Alozie Enyinnah 5. Ogubie Chidiebere N

-(Chairman) -(secretary).

AIMS AND OBJECTIVES 1. To bring the landlords together 2. To assist one another 3. To ensure the estate is secured 4. To Ensure the estate has a good road & drainage 5. To ensure there's constant electricity.

Leader, Indigenous People of Biafra (IPOB), Nnamdi Kanu, during his arraignment at the Federal High Court Abuja …yestreday

Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: Barr. C. C. Mac-Anthony

PUBLIC NOTICE

MADE BY GRACE INTERNATIONAL CHRISTIAN CHAPEL

The general public is hereby notified that the above named has applied for registration with the Corporate Affairs Commission Abuja, Under Part “C” of the Companies and Allied Matter Act 1990. The Trustees are: 1. Pastor Patrick Amadi. 2. Pastor Hebinuchi Amadi. 3. Dr Blessing Egbo Thom-Otuya. 4. Evang. Catherine Nma Ordu. 5. Engr. Igochukwu Nyebuchi Amadi. 6. Dr. Mrs. Victoria Branga Tamunomie AIMS AND OBJECTIVES 1. To preach the gospel of Our Lord Jesus Christ. Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: PASTOR PATRICK AMADI

PUBLIC NOTICE

OLUYOLE HIGH SCHOOL ALUMNI ASSOCIATION

The general public is hereby notified that the above named Association has applied to the Corporate Affairs Commission (CAC), Abuja for registration under Part 'C' of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Tunde Akingbulugbe –Chairman. 3. Mrs. Kemi Adewakun –Member 5. Omatsola Mene –Member

2. Mrs. Bukola Taylor –Secretary. 4. Adesola Johnson –Member

AIMS AND OBJECTIVES 1. To foster interactions between the alumni and the present students so that when they graduate, they too will join the alumni. 2. To encourage the Alumni to take an active and abiding interest in the work and progress of the School so as to contribute towards enhancement of the social utility of their Alma 3. To organize and establish scholarship funds to help the needy and deserving student 4. To Institute prizes and awards for outstanding project work, research papers or other professional activity by the students of the School; also to suitably recognize outstanding social and community service by the Alumni and the students. 5. To undertake to organise a civic or charitable nature as also to increase public awareness of the role of technology in value addition in the economic and social development 6. To acquire, purchase or otherwise own or taken on lease or hire in Ibadan or elsewhere in Nigeria temporarily or permanently any movable or immovable property necessary or convenient for the furtherance of the objects of the Association. 7. To invest and deal with the funds and moneys of the association 8. To do all such other lawful things as are conductive or incidental to the attainment of the above objectives and/ or beneficial to the interests of the Institute and its Alumni. 9. To take advantage of developing technologies like the internet in achieving the aims and objects of the Association. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: Trustees

FG not comfortable with MASSOB, IPOB alliance Uchenna Inya ABAKALIKI

he Movement for the Actualization of Sovereign State of Biafra (MASSOB) yesterday said the Federal Government and some persons in the country are not comfortable with its alliance with the Indigenous People of Biafra (IPOB). It said this was why the government and others opposed to the agitation of the two groups were fran-

tically making moves to create a division between the two group as a way of frustrating the agitation for the Biafra nation. In a statement in Abakaliki signed by its National Director of Information, MASSOB, urged members of the two groups to remain united

618,000

The total population of men of Estonia in 2012. Source: Un.org

and determined. We have discovered that the Nigerian government and some people are against the Biafran struggle, they are not comfortable with the alliance between MASSOB and IPOB. We are concentrating our energy, connec-

1.25m

The total area (in sq. km) of land of Angola. Source: Worldfactsandfigures. com

tions and strengthen on the release of Nnamdi Kanu, who is the major arrowhead of the Biafran struggle and we are seeking possible ways of uniting forces for the actualization of Biafra. Biafra is bigger than anybody, including Nnamdi Kanu, Ralph Uwazuruike, Uchenna Madu, Dozie Ikedife and others. Biafra’s interest is also bigger than groups or personal interest. It actualization may take a longer period but it will come’’, the group said.

Buhari’s silence on Fulani herdsmen attacks worrisome – Group Steve Uzoechi OWERRI

group, Ndigbo Unity Forum (NUF) has condemned the silence of the Presidency to the incessant attacks unleashed by Fulani herdsmen on various communities across the country. In a press statement after its monthly meeting, the group lamented that with no visible effort on ground to bring the rampaging

herdsmen to book, President Muhammadu Buhari, had continued to ‘steer the ship of the country’ as if nothing had happened. The statement, signed by the President of the group Augustine Chukwudum, noted that it was about time the president was told the truth about non- Nigerians invading the country on the guise of Fulani herdsmen. The statement read in part, “It is a shame that after more than 30 days of

the Agatu massacre and numerous mayhems carried out by the Fulani nomads, that President Buhari has not officially condemned the action of the herdsmen, this action is worrisome.” The group rejected any legislative move to establish grazing zones and reserves across the country by the Federal Government. It called on the National Assembly to stand down the bill saying, “we believe that it will create more problem

than it intends to solve.” On some issues affecting the South-East zone, the group called on Governor Rochas Okorocha of Imo State to settle workers salary arrears within the next 60 days, while it asked Governor Willy Obiano of Anambra state to immediately fulfill his campaign promise of providing free education in Anambra State or risk massive rejection at the next polls in the state.

News|south-SOUTH

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Navy chief: Corrupt officers’ll be dismissed Emmanuel Masha Port Harcourt

he Flag Officer Commanding (FOC), Eastern Naval Command, Rear Admiral James Oluwole, has warned corrupt officers and ratings to dump the practice or face dismissal from service. He said they were supposed to pay their due to the Nigerian Navy by safeguarding the country’s maritime environment and not to engage

in corrupt practices, which contradicts military laws. Oluwole, who issued the threat while addressing troops during his familiarisation tour of navy formations and units in Port Harcourt yesterday, said commanders under his watch will be empowered to carry out summary trials to check personnel that want to pollute the country. He said: “Under my watch, there will be zero tolerance to criminality, indiscipline, disobedi-

ence of military laws and lack of respect for the rule of law. “I have a dislike for indiscipline. Commanders will be empowered to do summary trials according to military regulations. Personnel will get what is due to them, but are expected to give what is due to the Nigerian Navy. “I’m going to be fair and firm to ensure that every one of us offers solution to Nigeria’s problems and not to pollute the nation,” he said. Oluwole urged the

navy personnel to come up with ideas through research and development to improve the navy, noting that the Chief of Naval Staff, Vice-Admiral Ibok-Ete Ibas, was keen on training and re-training and the provision of accommodation to boost their morale. He said more gunboats and other military hard wares were being acquired to enable troops to secure the nation’s waterways and to safeguard the nation’s maritime environment.

L-R: Newly appointed Flag Officer Commanding (FOC), Eastern Naval Command, Rear Adm. James Oluwole; Cammandant, Nigerian Navy Secondary School, Port Harcourt, Commander Feyisara Solebo and Command Operations Officer, Eastern Naval Command, Commodore Razaq Babalola, during the FOC’s familiarisation tour of naval formations and units in Port Harcourt … yesterday. PHOTO: NAN

Salaries: Bayelsa, labour’s meeting raises workers’ hope Chris Ejim Yenagoa

he hope of Bayelsa State workers receiving their four months’ salary arrears was rekindled yesterday, following the meeting between the state government and labour leaders in the state. The two groups met to deliberate on the modalities for resolving all contentious issues surrounding the unpaid arrears. The five-hour meeting, which was attended by labour leaders led by the Chairman of the Nigerian Labour Congress (NLC), John Odiomu and the state Chairman of the Trade Union Congress (TUC), Tare Donli, agreed

with the state government to commence payment despite the dwindling resources available. While Odiomu told newsmen after the meeting that though labour will continue to engage government on the issue of payment, he admitted that the state and its workers have a big problem at hand that must be resolved. The TUC chairman, however, said that the issue of unpaid salaries is a storm in the cup of the state and that the stakeholders needed to manage it. He said the “government has agreed to pay, but demanded our patience.” Earlier, the Deputy Governor, John Jonah, who presided over the

meeting, said though the meeting was cordial, “it is sad that the state met itself in this situation. He said Bayelsa is not known to owe salaries, but that with N1.6 billion owed, it has become physically impossible to pay.” Jonah said the state government’s team had explained the situation to the labour and that there has been agreement between the two. The meeting, however, resolved in a 10-point communiqué read by the Commissioner for Information and Orientation,

1.9%

The annual population growth rate of Oman in 2010-2015. Source: Un.org

Hon. Jonathan Obuebite that; “In spite of the dwindling economy, the state government should work assiduously to pay the backlog of salaries and pension owed workers and pensioners in the state. “That labour appreciates the challenges of government in meeting obligations concerning salaries. That government should improve on its internally generated revenue (IGR) without increasing Personal Income Tax to meet its financial obligations.”

£36.6m

The total amount spent by Leicester City in the whole 201516 season. Source: 101greatgoals.com

Oshiomhole restates commitment to workers’ welfare Cajetan Mmuta BENIN

do State Governor, Adams Oshiomhole, yesterday restates his administration’s commitment to the welfare of workers in the state. He said the state government got only N1.6

billion from the Federation Account this month with a shortfall of N1.4 billion to meet salaries and overheads, assuring the people that such development would not stop the government from meeting its wage obligation before the end of the month.

Oshiomhole, who spoke during the visit of the newly elected leadership of the Trade Union Congress (TUC), said the labour union remains his primary constituency. According to him, “The labour movement remains my primary constituency. Politics is my

secondary constituency and I am never ashamed to say it that the style that I adopt and the strategy that I evoke are the result of my trade union training and all that the union equipped me with. “So, our movement gives us all that we need to prepare for leadership.”

LG boss decries complicity in Agip pipeline bombing Chris Ejim Yenagoa

he Caretaker Committee Chairman of Southern Ijaw Local Government Area in Bayelsa State, Hon. Joshua Maciver, yesterday faulted claims by some politicians that he was involved in the Easter Day bombing of Agip oil and gas pipelines located at Olugboboro community of the council area. A member of the Bayelsa State House of Assembly representing Brass Constituency One, Hon. Israel Sunny-Goli, had alleged that Machiver and

other top members of the PDP are plotting to kill the suspect for allegedly damaging evidence against some members. Sunny- Goli said the conduct of Maciver since his inauguration as the caretaker committee chairman is inimical to the continued peace and stability in the local government as his actions betrayed his motive against oil companies operating in the area, especially Agip. But the caretaker chairman in a statement yesterday in Yenagoa, said his alleged complicity in the case of Agip oil bombing is a deliberate case of blackmail.

ALGON tasks FG, National Assembly on autonomy Cajetan Mmuta BENIN

he Association of Local Governments of Nigeria (ALGON) yesterday challenged members of the National Assembly to further amend the country’s constitution to pave the way for true federalism in which the 774 councils will be granted full autonomy with realistic financial and administrative responsibilities and for purposeful leadership. The body also tasked the nation’s 36 state governors and the Federal Government to fashion out ways of solving the problem of unpaid salaries of primary school teachers as leaving such responsibility to the local councils has become a huge burden. The immediate past

Chairman of ALGON in Edo State, Mrs. Itoha Osahon-Ogbeide, made the appeal while briefing newsmen in Benin, the state capital. Osahon-Ogbeide, who bemoaned the plight of the councils at meeting the needs of people at the grassroots, said such burden was too much for council areas to bear. The ALGON leader, who was flanked by the Secretary of the body in the state, Mr. Jimoh Ijegbai and other executive members, said the local government system in the country would have been better placed in terms of development and other challenges, but for the heavy burden on the leadership. The body said the burden of payment of teachers’ salaries should be taken off its shoulders.

Communities to Assembly: Where’s DESOPADEC’s N16bn allocation? Dominic Adewole ASABA

il and gas host communities in Delta State yesterday besieged the state’s House of Assembly complex, demanding the whereabouts of the N16 billion budgeted for the state’s Oil Producing Area Development Commission (DESOPADEC) in 2015. The group also wondered why the House has since last year shrewdly misplaced figures in the budget in a bid to shortchange the host communities. In their four-point demand letter addressed to the Speaker, Rt. Hon. Monday Igbuya and co-signed by the National Coordinator, Prince Maikpobi Okareme, the state Secretary, Gabriel Isibeluo and three others, which was read during their protest at the Assem-

bly’s gate, the group wanted projects sited outside the oil and gas producing communities to be swiftly deemphasised. According to Okareme, projects that have been passed and slated for implementation in the 2015 budget by the commission, which the tender documents have prepared for distribution, should be implemented. He said: “It is an open secret that 2015 DESOPADEC budget passed by the House of Assembly has not been implemented even as all budget figures in the budget were cleverly omitted to shortchange us, especially in the capital budget. “The non-accountability and disappearance of about N16 billion from the DESOPADEC 2015 budget figure as listed in the current budget before the House is suspicious.”

NEWS | north

Tension in Nasarawa over missing N3.9bn bailout fund

Cheke Emmanuel LAFIA

here are strong indications of palpable tension among top government officials in Nasarawa State, following the Independent Corrupt Practices and other Related Offences Commission (ICPC's) report, which indicted the state for diverting the bailout funds. The state government, which spoke at a ceremony held at the Government House, Lafia, the state capital, in October last year, said it had re-

leased N4.3 billion being part of the bailout to the Local Government Councils in the state, leaving the balance of N3.9 billion. The tension is coming barely few days after the Independent Corrupt Practices and Other Related Offences Commission (ICPC) named the state among states it indicted for not judiciously utilizing its share of the bailout fund it received from the Federal Government last year. Some top government officials including the Commissioner for Finance, Dr. Donminic Bako; the Accountant

General of the State, Musa Darda'u; the Auditor-General, Rayanu Lamus and the Chairman of the state’s Revenue Board were locked up in series of meetings on Monday and Tuesday apparently to come up with some explanations whenever ICPC call. According to the report published by the ICPC, the anti-graft agency noted that the state received N8.9 billion in two tranches of N3.9 billion and N4.9 billion respectively as bailout, but only disbursed N3.9 billion with a balance of N4.9 billion. The Commissioner for Local Government and

Chieftaincy Affairs, Tijani Ahmed Aliyu, had during a press conference in Lafia on Saturday declined comment on the N3.9 billion bailout funds, but admitted that N4.3 billion was given to the Local Government Councils by the state government, which was used to upset two and half months salary arrears of the council workers. However, investigations by New Telegraph revealed that Governor Tanko Al-Makura has scheduled a stakeholders’ meeting for today to discuss the state of finances of the state as economic hardship bites harder.

L-R: Adamawa State Governor, Bindow Jibrilla; Bauchi State Governor, Abubakar Mohammed; World Bank’s Programme Leader for Sustainable Development and Northern Nigeria, Dr. Sateh Chafic El-Arnauout and Borno State Governor, Kashim Shettima, at a meeting between the World Bank Group led by its Managing Director and Chief Operating Officer, Sri Mulyani Indrawati and governors of the six North East states to discuss post-insurgency interventions in Abuja … yesterday

wednesday, APRIL 27, 2016 NEW TELEGRAPH

Niger: I borrow N400m monthly to augment workers' salaries – Governor Dan Atori MINNA

iger State Governor, Abubarkar Sani Bello, has disclosed that the state borrows N400 million monthly to augment the civil servants’ wages. This is as he added that the state’s monthly allocation received from the Federation Allocation Account Committee (FAAC) was grossly inadequate to pay the workers' salaries for the month. In an interview with the New Telegraph in Minna, the state capital, the governor challenged the workers on the need for them to be prepared for hard times, adding that the state would do its best for the people no matter the predicament. Bello, who disclosed this yesterday, however, noted that the state is

£6.9m

The total amount received by Leicester City in the whole 2015-16 season. Source: 101greatgoals.com

Group condemns calls for Sport Minister’s removal Musa Pam Jos

Kogi elders to Bello: You’ve turned APC to opposition party Muhammad Bashir Lokoja

lders and the All Progressives Congress (APC) party stalwarts in Kogi State yesterday accused the state governor, Yahaya Bello over allegedly relegating the winning APC party in the state to an opposition. The stakeholders in the communique issued

at the end of the Elders/ Stakeholders Meeting, which took place in Abuja and signed by notable leaders in the state, Senator Nicholas Yahaya Ugbane, Senator Saliu Ohize and Chief Dare Olatunde, as Secretary, condemned the activities of the governor since assumption of office. "The anti-party activities of Alhaji Yahaya Bello before, during and after the November 21, 2015 gubernatorial elec-

Over 19,000 children die of malaria yearly in Niger Dan Atori MINNA

his will not be cheering news to the government and people of Niger State. The state has been rated as the state with the highest percentage of number of children who died of malaria every year. It said in the North Central geo-political zone of the country, Niger State recorded over 19,000 deaths of children

passing through a real hard times in order to ensure that workers are paid their salaries as at when due despite what comes into the state from the Federation Allocation Account Committee (FAAC) monthly. "Last month we borrowed to complete the payment of the workers’ salary, but this month will be worse while next month will be the worst. The workers should begin to learn how to endure and be patience with the government. But, I want to assure you that in no distant time, things will change for the better," the governor said. Corroborating his argument, Bello recalled how the entire 36 governors met last week with the Minister of Finance, saying that it appeared that the situation would probably not improve till the next three to four months.

under five years of age as a result of malaria attack every year. The state Commissioner for Health, Dr. Jibril Mustapha disclosed this during a press briefing held at Gussoro in Shiroro Local Government Area of the state, as part of activities marking this year's Malaria Day. While lamented the percentage of death recorded by the state, which he noted has resulted over N5.2 billion in economic loss to the state.

tion, which has currently turn a winning APC party to a position of an opposition party in the state is worrisome," the communiqué said. It added: "We equally view with concern the leadership style of Governor Yahaya Bello, which has alienated the party (APC) and allied with members of the opposition People’s Democratic Party (PDP) in running the affairs of Kogi State."

While calling for the sanctity of the November 21, 2015 gubernatorial election and calling on the relevant authorities to give effect to the will of the people as demonstrated in the election, the stakeholders urged the national leadership of the APC, to as a matter of urgency, take steps to correct the injustices brought about by the emergence of Bello as the governor of the state. "

he Tarok people of Langtang South and North Local Government Areas of Plateau State have commended President Muhammadu Buhari for appointing Solomon Dalung as Minister of Youth and Sports Development, who they described as their son. The people, who spoke through the Tarok Youth Vanguard, in a press statement made available to New Telegraph, yesterday in Jos, condemned the misleading report on a national daily (not New Telegraph) at the week-

end, calling on President Muhammadu Buhari to fire the Minister Youth and Sports. The statement signed by the leader of the group, Nankpak Wuyep Bali condemned those calling for the removal of the minister, and urged Nigerians to support the minister to succeed and stop criticising him in the media. He said: "It is absolutely a good decision that President Buhari in his own wisdom appointed Mr. Solomon Dalung as the Minister of Sport because the ministry is not a dumping ground for any minister, but as very key to the future of the country."

‘Yuguda, a huge burden to the PDP’ Emir cautions FG on herdsmen’s menace Nankpah Bwakan Bauchi

former member of House of Representatives and a chieftain of Peoples’ Democratic Party (PDP) in Bauchi State, Hon. Abdulrazaq Nuhu Zaki said the exit of former governor of the state Mallam Isa Yuguda from PDP would not affect the fortune of the party in the state. Zaki, while reacting to Yuguda's exit from the party, described the development as a good omen and urged party’s

supporters not to panic as it would continue to wax stronger than when Yuguda was in the party. He described Yuguda as a huge burden to the party, saying that his exit was a relief to party, even as the former lawmaker noted that Yuguda dragged the party into crisis that tore it apart into its present factions because of his desperation to control the party in the state. He said: “With God on our side, the PDP would emerge victorious in the coming elections as we are working hard to reposition the party in state."

Biodun Oyeleye Ilorin

mir of Ilorin and Chairman of Kwara State Traditional Council, Alhaji Ibrahim Sulu-Gambari, yesterday warned the Federal Government on the need to tackle the growing menace of herdsmen in the country. The monarch, who expressed worry that the upsurge is threatening the existence and oneness of Nigeria as an entity, spoke on the background of recurring cases of herdsmen/farmers attacks in most parts of the country.

The Emir, who raised the concern when the Vice President, Prof. Yemi Osinbajo paid him homage in his palace in llorin, the state capital, said the herdsmen were not Nigerians, even as the royal father added that they are migrating herdsmen from other parts of Africa. He counselled that the government should be more serious in dealing with the incessant security threat posed by the herdsmen, saying the call has become imperative so that the crisis would not degenerate to a repeat of Boko Haram insurgence.

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

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Egypt, Algeria officials for nigerian Tennis Open

Luis Suarez has scored more goals in his last two games (8) than three EPL teams: Watford (6) Villa (6) Norwich (7) have done between February 1 and now.

International Atletico to treat Bayern clash like a final

46 47

Siasia monitors Japan, Colombia, Sweden Seeks match tapes of Rio opponents

Emmanuel Tobi

Siasia

UCL FIXTURE

Athletico vs Bayern 7:45pm NPFL FIXTURES Enyimba vs Heartland Sunshine vs Nasarawa Utd Giwa FC vs Rangers

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

s part Nigeria’s quest of winning the Rio Olympics football gold, U-23 Eagles Head Coach, Samson Siasia, is working hard to record victory over Japan, Sweden and Colombia at the competition by keeping tabs on the activities of team’s opponents in Group B. The U-23 Eagles will have their first game of the Olympics against the Japanese team on August 4, play against Sweden on August 7 before battling Colombia in the last group match on August 10. Siasia who led the team to win silver at the 2008 Olympics in Beijing, qualified for the 2016 Olympics after their heroic outing at the last Africa U-23 Nations Cup in Senegal last year. New Telegraph scooped that the coach is leaving no stone unturned as he has already channeled all his resources towards securing match tapes of the opponents. According to a source close to the team, “The coach has concluded plans to use his networks by contacting his friends, colleagues and match agents to monitor the group opponents and get match tapes to prepare the team ahead of the games in August.” “The team is hopeful of getting quality oppositions to prepare the boys for the competition while hoping the Nigeria Football Federation secures the necessary funds and logistics to boost team preparations.” Meanwhile, U-23 Eagles media officer, Timi Ebikagboro, has stated that all players in Nigeria’s 60-man

preliminary list for that Olympics must come with a written letter from their clubs confirming their availability for the competition. “The players’ invitation goes beyond being a good players but emphasis is on players’ availability. We have young play-

ers scattered abroad who are ready to play for Nigeria but they must get a written commitment from their clubs. Same applies to the local players because most of them head for greener pastures after playing one or two test matches with the U-23 Eagles,” he said.

xxx

Nigeria’s Al-Farouq Aminu trying to make a dunk

D’Tigers get USA friendly invitation Emmanuel Tobi

he U.S. Olympic men’s basketball team has invited Nigeria senior male basketball team, D’Tigers, for pre-Olympic exhibition matches. USA will face Nigeria, Argentina and three other opponents during a fivegame, five-city exhibition tour. The Americans will also play two games against China before facing Venezuela before rounding up their preparation with against African champion Nigeria in Houston on Au-

gust 1. Meanwhile, Nigeria female basketball team coach, Scott Nnaji, is confident about the team’s chances to qualify for the Rio 2016 Olympics. The D’Tigress claimed a Third-Place finish at AfroBasket Women 2015, and as a result secured a place at the 2016 FIBA Women’s Olympic Qualifying Tournament in Nantes, France to take place between June 13 and 19. The team which opens camp on May 1 in Abuja is billed to play two warm-up games against Turkey in Istanbul in May 27-28 before confronting Argentina June

8-9 in France. “We expect the players to come to camp ready for the challenges ahead,” he told FIBA.com. “We have a list of players that have shown interest to be part of the team, and we hope they will make it early to the camp.” The D’Tigress who last played in the Olympics in 2004, have been drawn in Group C along with Belarus and Korea. If they can win at least one game in the group, and win two more in the Final Phase they will secure a place in Rio Olympics.

Enyeama emerges best keeper in France

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WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Enyimba seek another victory against Heartland Charles Ogundiya

igeria Professional Football League champions, Enyimba will be hoping to make it back-to-back victory when they file out against Heartland of Owerri in a rescheduled match on Wednesday (today). After their qualification to the money spinning group stage of the CAF Champions League, the People’s Elephant defeated Akwa United 1-0 in Uyo on Sunday and will be targeting another victory.

Enyeama emerges best T keeper in France

Prince Obiaku

ormer Super Eagles skipper, Vincent Enyeama, yesterday night emerged the best goalkeeper in the French League for the 2015/2016 season. He is also in the Team of the Year. Enyeama beat Steve Mandanda (Olympique Marseille), Salvatore Sirigu (Paris Saint Germain) and Stephane Ruffier (Saint-Ettiene) to win the prestigious Ligue 1 golden glove award. The goal tender however expressed excitement over the development and also for being rated the sixth best goalkeeper in Europe by the Swiss-based CIES Football Observatory for his superlative performance with his French club Lille OSC in the 2015/16 season. The ex-Eagles captain is ranked 6th behind Manuel Neuer (Bayern Munich), Jan Oblak (Atletico Madrid), Gianlu-

igi Buffon (Juventus), Kevin Trapp (PSG), Claudio Bravo (Barcelona) and he is the only African on the Top 10 list. Other players behind Enyeama include Keylor Navas of Real Madrid, Tottenham’s Hugo Lloris, Alphonse Areola of Villareal and Pepe Reina of Napoli, who all made the list of top 10 shot stoppers across Europe’s top Leagues. “From the depth of my heart, I want to say a very big thank you to God for this season. I want to thank my wife, kids, brothers, sister and my entire family,” Enyeama wrote on his Instagram page. He added: “Special mention goes to my goalie coach Jean Pierre, Steeve Elana, Mike Maignan, Jean Butez not forgetting the players from other clubs that nominated and voted me for this award. I say thank you to all the journalists and critics that set me on the right path.”

Okpekpe race organisers target new records

rganisers of the Okpekpe international 10km road race have predicted new men and women’s course records next month when the fourth edition of the IAAF Bronze Label race holds in Okpekpe near Auchi, Edo State. In 2014 Kenya’s Teshome Mekonnen and Ethiopia’s Wude Ayalew ran 28:35 and 32:41 respectively to smash the course and the Nigerian all-comers record of 29:39 and 33:01 set a year earlier at the inaugural edition of the race. “Last year at the third edition of the race the Kenyan duo of Korio Alex Olotptip (29.20) and Tanui Anfele (33.34) failed to race past Mekonnen and Ayalew’s records but all that will change this year,” said Dare Esan, spokesman for the race. “The quality of the elite athletes confirmed for this year’s race is such that we cannot even

rule out a new world lead come May 7. Many of the gold and silver level running athletes confirmed for the race have ran faster than the course records set by Mekonnen and Ayalew in 2014,” he added.

In Abuja, Giwa FC and Rangers will continue where they stopped on April 17 after the home team’s fans disrupted the game. Rangers were leading 1-0 till the 74th minute when the match was stopped by the centre referee after the fans rained stones and other objects on the Assistant Referee of the game. The League Management Company ordered that the remaining minutes must be played behind closed stadium in Abuja on Wednesday.

Egypt, Algeria officials for Nigerian Tennis Open

Chinedu Udoji of Enyimba against Felix Benjamin of Rivers United

Emmanuel Tobi

Skipper of the team, Chinedu Udoji, said,“We want to keep on getting the points so that we can move away from the current position that the team is occupying now.” Sunshine Stars will be looking for revenge when they host Nasarawa United in another rescheduled game. Nasarawa United ended Sunshine Stars eight years unbeaten home runs last season and it will be a good opportunity for the Akure Gunners to avenge the defeat.

he International Table Tennis Federation (has named Egypt’s Mohamed Dawlatly and Nabil Almamoon as competition manager and referee while Algeria’s Boudjehem Abdallah is the assistant referee for this year’s ITTF Premier Lotto Nigerian Open (serving off on May 18 to 22 at the Molade OkoyaThomas Hall of Teslim Balogun Stadium in Lagos. Mohamed Dawlatly is an Information Technology expert with the world table tennis ruling body and an experienced competition manager whose last duty was at the World Team Championship in Malaysia. For Nabil Almamoon, it his fourth visit to Nigeria having handled the three previous editions

in Lagos and the experienced referee is one of the respected officials in the world and he has handled major tournaments, including the 2015 ITTF

Aruna Quadri

Africa Senior Championships. According to tournament director, Oluranti Lajide, more than 30 officials will handle proceedings at the championship with Benin Republic, Togo and Cameroun being represented. “We are also going to update the knowledge of all the officials handling matches at the tournament because there are new rules and regulations, which they must also be acquainted with. We are organising a refresher course for all selected umpires and this will be handled by an expert from ITTF, Malaysia’s Cyril Sen,” Olajide said. The ITTF Premier Lotto Nigerian Open is the highest prize money tournament in the Challenge Series of the ITTF World Tour, with players jostling for $46,000.

Cowbell Academy defeats Indian school teams

he Cowbell Football Academy emerged victorious when they hosted the Indian International Language in a friendly match at the Main Bowl of the National Stadium, Lagos, at the weekend. The game was flagged off with the CFA U-10 side beating their Indian Counterpart 5-1 while the game for the Under-15 team recorded a 4-0 victory in favour of the Cowbell Team.

Satisfied with the performance of his players, Hycienth Nkwocha, Head Coach/Technical Coordinator, Cowbell Football Academy, explained that the players were usually recruited when they are young before they are trained on the metrics of the game of football. “When we catch them very young, we groom them

and this helps them in the future unlike us, who started very late. Besides, they are learning very fast and we must use this medium to train them and improve on areas where they are lacking in skills and techniques. “Both teams displayed aggression, strong attacking spirit, goal-oriented style of football and they are disciplined.”

Sports Reform Committee set for Abuja retreat

he Sports Reform Committee set up by the minister of Youth and Sports to restructure Nigerian sports for effective development will begin its second retreat in Abuja from Wednesday today. The Abuja retreat is coming on the heels of the maiden edition in Lagos which featured presentations from the private sector led by the president and Chairman in Council of the Nigeria-British Chamber of Commerce, Prince Dapo Adelegan. According to a release from the committee, the Abuja retreat will

have an open house on Thursday April 28, featuring a presentation from a public sector individual and a parley with Abuja-based sports editors. Part of the terms of reference include the designing of a new architecture that will restructure Nigerian sports from a service oriented model to a development oriented one that will enhance effective and enduring sports development in Nigeria. The committee which has until July 14 to submit its report has Godwin Kienka as chairman.

Kienka

WEDNESDAY, APRIL 27, 2016 NEW TELEGRAPH

Atletico to treat Bayern clash like a final

tletico Madrid midfielder Saul says Diego Simeone’s men will treat their Champions League last-four tie with Bayern Munich as if it were a final. The La Liga side welcomes Bayern to the Vicente Calderon on Wednesday for the first leg having seen off domestic rivals and holders Barcelona in the quarter-finals. Saul, who has scored eight goals in all competitions for Atletico this sea-

son after establishing himself in the first team last campaign, believes they are set to face the most well-rounded side left in the competition. But the 21-year-old stressed Atletico will give everything to match Pep Guardiola’s Bundesliga leaders. He told AS: “They [Bayern] are the most complete side, they have a lot of variety to their game and can attack through the middle or via the wings, and they’re strong in the air.”

Vardy to miss Man United clash

Aleppo death toll mounts, rescue workers killed

Athletico Madrid striker, Fernando Torres (left) will be one of the in-form Atletico players hoping to send Bayern out of Europe

amie Vardy has been handed an additional one-match ban following his sending off against West Ham earlier this month. The forward will now miss Leicester’s crucial trip to Manchester United on Sunday. Following the Football Association’s decision to charge the England forward with improper conduct, an independent regulatory commission

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has decided to punish him further. Vardy had accepted the charge and requested for a personal hearing in the hope his own account of what happened would persuade the panel to take a more lenient view of his actions after he was sent off in Leicester’s 2-2 draw with the Hammers. The England striker has also been handed a £10,000 fine.

Vardy

Platini

ciation after video replays appeared to suggest that he punched Claudio Yacob during the 1-1 draw with West Bromwich Albion. The off-the-ball incident was not spotted by referee Mike Jones, but may be punishable with a suspension if the governing body were to review the footage. Tottenham’s 1-1 draw with West Brom gives Leicester City the chance to clinch the Premier League title with a victory at Manchester United this weekend.

Woods ready for in US Open

the Syrian Observatory for Human Rights said. That adds to another 60 people killed over the weekend in Aleppo, Syria’s largest city before the war, according to the Observatory. Air strikes were also reported in rebel-held areas near Damascus and in Hama province yesterday. In a separate incident west of Aleppo, five Civil Defence workers first responders in opposition held territory where medical infrastructure has all but broken down were killed by air strikes and a rocket attack on their centre. The Observatory and Civil Defence colleagues

said the attack appeared to have deliberately targeted the rescue workers in the town of Atareb, some 25 km (15 miles) west of Aleppo. “The targeting was very precise,” Radi Saad, a Civil Defence worker, told Reuters. “They were in the centre and ready to respond. When they heard warplanes in the area they did not think they would be the target.” Two people were seriously wounded and ambulances and cars belonging to doctors were destroyed, another Civil Defence member, Ahmad Sheikho, said.

Rescue workers searching for bodies in the rubble of a collapsed mosque in Syria

Kenya’s former first lady, Lucy Kibaki, dies

Dele Alli faces FA charge FIFA drops ottenham Hotspur’s Dele Alli could face retrospective disciplinPlatini charges ary action from the Football AssoIFA’s Ethics Committee has reportedly dropped charges against Michel Platini over a “disloyal payment” received from then-FIFA president Sepp Blatter. Platini was due to face a trial later this week having appealed his initial eightyear ban from all football-related activity, which was later reduced to six years. However, a number of reports have now surfaced claiming that some or all of the charges have been dropped against the former UEFA president. FIFA are yet to confirm whether or not the reports are true after Italian media outlets Sky and ANSA both claimed that the corruption charges have been unexpectedly binned.

ttacks by government forces and rebels killed at least 30 people, including eight children, in the last 24 hours in Aleppo, a city seeing some of the worst of a renewed escalation in the Syrian war, a monitoring group said. Intensified fighting has all but destroyed a partial ceasefire that started at the end of February, with UN led peace talks in disarray. In Aleppo, divided between areas controlled by the government and by rebels, 19 people were killed by rebel shelling and 11 were killed by government air strikes,

iger Woods has reportedly registered to play in this year’s US Open tournament, sparking rumours that his comeback could be imminent. The American has not featured competitively since the Wyndham Championship in August last year because of persistent back injuries. Woods has since undergone two operations to correct the problem, but is yet to set a date for his return. However, Sky Sports News reports that the 14-time Major champion has completed the necessary paperwork to take part in the Oakmont event this summer.

enya’s controversial former first lady, Lucy Kibaki, has died in a London hospital of an undisclosed illness. She gained notoriety for slapping a cameraman in 2005 when she stormed the offices of a private media group in anger at the way a story about her had been reported. In a tribute to Mrs. Kibaki, President Uhuru Kenyatta praised her for her role in fighting HIV/Aids in Kenya. Mr. Kenyatta succeeded her husband Mwai Kibaki, who governed from 2002

Mrs Kibaki

to 2013. Mrs Kibaki, who was born in 1940, had withdrawn from public life during the latter part of her husband’s rule. She was last seen at a public function in August 2010,

when she seemed excited about the adoption of a new constitution, dancing to a famous gospel song, Kenya’s Daily Nation newspaper reports. Mr. Kenyatta said she had been unwell for the last month, receiving treatment in both Kenya and the UK. Mrs. Kibaki trained as a teacher, leaving her job not long after her marriage in 1962 to raise her four children. “Her Excellency will be remembered for her immense contribution in the development of country,” Mr. Kenyatta said in a statement.

Chinese air passengers arrested after throwing food, slapping crew

hree Chinese air travelers were arrested after a video showed them hitting, throwing food and verbally abusing ground crew over a delayed flight, reports said yesterday. Passengers leaving the southern city of Changsha became angry when their flight to the tropical Hainan island province was delayed on Monday.

Two men and one female passenger shouted at the staff, and the woman threw a boxed meal at a female ground staff member twice. Later, a male passenger slapped another staff member’s face and beat her. However, all three travelers were detained by police. The rude behaviour of some Chinese tourists at home and abroad has sparked widespread em-

barrassment and calls for the government to step in. In December 2014, a flight attendant on a Thai Air Asia flight was scalded when a pot of noodles in hot water was flung at her by a Chinese tourist who was angry about not getting a receipt. In 2015, Beijing began compiling a public black list of Chinese tourists who behave badly in foreign countries.

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Intolerance and religious outlaws

n the last few years, it seems that the two major religious groups in Nigeria have developed an intolerant attitude to religious minorities. The dominant impression is that unless you belong to the dominant tendency in both religions, you are an outlaw and whatever happens to you or your group or organization is divine retribution. Some of the religious groups and the “diehards” amongst them have advocated and continue to advocate that unless religious minorities change and return to the mainstream, they must be annihilated. I presume that it is the fear of dominance and intolerance that informed the fundamental protection accorded to ethnic, religious and linguistic minorities in the Constitution of the Federal Republic of Nigeria, 1999(as amended). Section 38(1) of the said Constitution of Nigeria is unique. It encompasses and encapsulates the dominant thinking, declarations and resolutions on religious freedom at the regional and international level. It provides that “Every person shall be entitled to freedom of thought, conscience and religion, including freedom to change his religion or belief, and freedom (either alone or in community with others, and in public or private) to manifest and propagate his religion or belief in worship, teaching, practice and observance”. This provision has its roots in section 24 of the 1963 Constitution and section 35 of the 1979 Constitution of Nigeria. At the international level, the United Nations adopted General Assembly Resolution 36/55 of November 1981 on the Elimination of Intolerance and Discrimination Based on Religion or Belief. In the preamble to the Declaration, the General Assembly emphasized the fact that disregard and infringement of human rights and fundamental freedoms, in particular of the right to freedom of thought, conscience, religion or whatever belief, have brought, directly or indirectly, wars and great suffering to mankind, especially where they serve as a means of foreign interference in the internal affairs of other States and amount to kindling hatred between peoples and nations. The General Assembly Resolution 36/55 also considered the fact that religion or belief, for anyone who professes either, is one of the fundamental elements in his conception of life and that freedom of religion or belief should be fully respected and guaranteed, considering that it is essential to promote understanding, tolerance and respect in matters relating to freedom of religion and belief and to ensure that the use of religion or belief for ends inconsistent with the Charter of the United Nations, other relevant instruments of the United Nations and the purposes and principles of the Declaration is inadmissible. The General Assembly Resolution 36/55 was also concerned by what it calls manifestations of intolerance and the existence of discrimination in matters of religion or belief and re-

Hard Choices FESTUS OKOYE festokoye2003@yahoo.com 0805-448-0565 (sms only)

Nasir Ahmad el-Rufai

solved to adopt necessary measures for their speedy elimination. Article 1(1) of the Resolution declares that “Everyone shall have the right to freedom of thought, conscience and religion. This right shall include freedom to have a religion or whatever belief of his choice, and freedom, either individually or in community with others and in public or private, manifest his religion or belief in worship, observance, practice and teaching”. Article 1(2) also declares that “No one shall be subject to coercion which would impair his freedom to have a religion or belief of his choice” while Article 1(3) declares that “Freedom to manifest one’s religion or beliefs may be subject only to such limitations as are prescribed by law and are necessary to protect public safety, order, health or morals or the fundamental rights and freedoms of others. Furthermore, Article 2 of Resolution 36/55 declares that “No one shall be subject to discrimination by any State, institution, group of persons, or person on grounds of religion or other beliefs” because “Discrimination between human beings on grounds of religion or belief constitutes an affront to human dignity and a disavowal of the principles of the Charter of the United Nations, and shall be condemned as a violation of the human rights and fundamental freedoms proclaimed in the Universal Declaration of Human Rights and enunciated in detail in the International Covenants on Human Rights, and as an obstacle to friendly and peaceful relations between nations”. On the basis of this,

the General Assembly charged states to take effective administrative and legal measures to prevent and eliminate discrimination on grounds of religion and combat intolerance. To this end, religious minorities shall have freedom:(a) To worship or assemble in connection with a religion or belief, and to establish and maintain places for these purposes; (b) to establish and maintain appropriate charitable or humanitarian institutions; (c) to make, acquire and use to an adequate extent the necessary articles and materials related to the rites or customs of a religion or belief; (d)to write, issue and disseminate relevant publications in these areas; (e) to teach a religion or belief in places suitable for these purposes; (f) to solicit and receive voluntary financial and other contributions from individuals and institutions; (g) to train, appoint, elect or designate by succession appropriate leaders called for by the requirements and standards of any religion or belief; (h) to observe days of rest and to celebrate holidays and ceremonies in accordance with the precepts of one’s religion or belief; (i) to establish and maintain communications with individuals and communities in matters of religion and belief at the national and international level. Furthermore, the United Nations adopted the General Assembly Resolution 47/135 of 18th December 1992 on the Rights of Persons Belonging to National or Ethnic, Religious and Linguistic Minorities. The Resolution emphasized and mandated States to creatively manage diversity and protect religious minorities and encourage conditions for the promotion of that identify. It further solidified the fact that individuals have the right to profess and practice their own religion and use their own language in private and in public, freely and without interference or any form of discrimination. They also have the right to establish and maintain their own associations. I decided to set out the core ingredients of these declarations and resolutions and the core issue in section 38 of the Constitution because it seems to me that it is possible that some Nigerians do not know about the existence of this body of laws, resolutions and declarations. It is also possible that those prescribing extra judicial execution and divine annihilation or retribution for religious minorities are aware of this body of laws but are too intolerant to understand that those that profess or practice something different from what is dominant are protected by national and international law. On the other hand, some of those that are intolerant of religious minorities do not care about national and international

law and are stuck with their prejudices and assumed superior practices and doctrines. Unfortunately, some of our colleagues in the human rights movement and some legal practitioners trained in the rule of law and due process are also trapped in the religious web. Some of our colleagues duck and or give tacit support to advocates and purveyors of religious intolerance when there is a conflict between mainstream religion and the practices and doctrines of religious minorities. Some of our colleagues cannot reconcile the fact of their faith, their doctrines, beliefs, practices and constitutional injunctions regarding freedom of religion and freedom to change ones religion as well as the right of choice inherent in the issue of abortion. It must be pointed out that working as a genuine human rights activist is not a tea party. It is a risky venture and meant for those with passion, drive, commitment, courage and a sense of justice. Combining human rights advocacy with legal advocacy and defending and fighting for the rights of outlaws, the fringe of the society, the weak, the vulnerable and minority elements is a hazardous venture. It is only now that every Tom, Dick and Harry will claim to be a human rights activist simply because we are in a democratic society where fundamental rights are to a certain extent respected and protected. We as human beings have a duty to protect and defend the rights of ethnic, linguistic and religious minorities and outlaws. During periods of mass hysteria and panic occasioned by the activities of terrorists, kidnappers, “religious extremists” and fundamentalists there is a huge risk that the state and the society may wittingly or unwittingly sanction the violation of the rights of religious and linguistic minorities.

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I HAVE FORGIVEN OSHIOMHOLE –Anenih

- ... Until the next election in Edo!

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