New telegraph monday, march 28, 2016 binder1 by Newtelegraphonline

Presidency kicks over dilution of FG’s stakes in Transcorp Hilton

lDue process followed, says BPE Abdulwahab Isa Abuja

he Presidency is not comfortable with the

role played by the Bureau of Public Enterprises (BPE) that led to a drastic reduction of Federal Government's equity holding in Nigeria's foremost pres-

tigious hotel – Trascorp Hilton – to 11 per cent from 49 per cent, New Telegraph has learnt. A source close to the seat of power told this

newspaper that the Presidency was miffed that the BPE, which represents the Federal Government on the board of Transcorp Hilton by virtue of 49 per cent government's equity stake, could approve a

board resolution that reduced the stakes reserved for Nigerians to Heirs Holdings Limited, the core investor in Hilton, which has 51 per cent majority share. The 49 per cent govern-

ment equity was reserved to be sold to Nigerians by way of Initial Public Offerings (IPO). The source said: "There was a board meeting of Trancorp Hilton where CONTINUED ON PAGE 4

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Vol. 3 No. 768

Monday, March 28, 2016

Sheriff intensifies campaign to }5 remain in office

Sheriff

100 held for looting after Kano market fire }9

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Nigerian rapes British woman in Dubai }9

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Onyema

Gunmen abduct Army Colonel in Kaduna }3

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Buratai

Fuel scarcity: Resign now, APC tells Kachikwu

Tinubu lacks moral right to criticise minister – PDP }2

Apostolic Faith Church choir performing during the 2016 Easter Concert, entitled: ‘Behold your King’ at the Campground, Anthony Village, Lagos… yesterday.

PHOTO: GODWIN IREKHE

Terror: Massive security deployed in public buildings, others We’ve taken serious security measures, says DHQ }3 Adequate sleep essential for weight loss –Expert

NEWS

MONday, March 28, 2016 NEW TELEGRAPH

Fuel scarcity: Resign now, APC tells Kachikwu Johnchuks Onaunyim and Onyekachi Eze Abuja

rouble is far from being over for the Minister of State for Petroleum, Dr. Ibe Kachikwu. The All Progressives Congress (APC) yesterday called for his resignation over the lingering fuel scarcity. The APC national leader, Asiwaju Bola Tinubu, had, on Saturday, asked the minister, who doubles as Group Managing Director

of the Nigerian National Petroleum Corporation (NNPC), to apologise to Nigerians for saying he was not a magician to bring to an end the fuel crisis. Kachikwu had, on Wednesday, told journalists after a meeting with President Muhammadu Buhari at the Aso Villa that the fuel scarcity would last till May and that he was not a magician. In the face of public outrage, the following day, the NNPC stated that the minister was misinterpreted. But yesterday, the APC National Vice Chairman

(South-South), Prince Hilliard Eta, called for the resignation of Kachikwu, stating that the minister was still carrying the toga of the Peoples Democratic Party (PDP). In a statement made available to the media, the APC national vice chairman alleged that "Kachukwu has not entirely cast off the orientation of the Peoples Democratic Party where he was." Eta added that such orientation is still manifesting in his actions and utterances such as the recent one that attracted opprobrium

from many Nigerians. "In the light of the foregoing, Mr. Kachukwu must not be a cog in the wheel of progress and he should do the needful by resigning honourably if he is not capable of doing his part by efficiently running the ministry assigned to him," he said. The member of the APC National Working Committee (NWC) denied any major rift in the party, saying: "It is important to reiterate here that winning the federal election in 2015 has not eroded the core ideology of progressivism which

we espouse as it is the very foundation on which the party rest. "This progressive ideology strongly emphasises government as a tool for service to the people who are the custodians of power in the first instance. In line with this, it is not wrong or out of place for Tinubu to call the Minister of State for Petroleum, Mr. Ibe Kachikwu to order owing to the anti-progressive statements he made in the Presidential Villa on Wednesday March 23, 2016, while fielding questions from journalists on

teamwork and synergy on the part of leadership. Everybody is acting separately from others. “The problem of lack of petroleum products in Nigeria is an old story and I think anybody who chooses to govern this country should be able to have a well-prepared policy to implement after wide consultation with stakeholders and experts on the issue, so that there would be credible and cogent policy to deal with the problem. The fact that there is discordant position on the part of APC leadership means that concrete policy is lacking.” For the UPP National Chairman, Okorie, Kachikwu should leave public statements to his media handlers, even as he described Tinubu’s reaction as overkill. He said: “I think Asiwaju (Tinubu) is a bit hard and harsh on Kachikwu. There is no doubt that Kachikwu did not chose his words carefully in the statement he made, but Tinubu’s reaction is an over kill as far as I am concerned. But one deficiency I have noted about Kachikwu is that he doesn’t think

the persisting scarcity of petrol. "Secondly, we in the APC believe that it is proper to immediately correct mistakes or errors committed by any member of the party, no matter how highly placed and we are developing a culture of accountability to Nigerians who government is meant to serve. "From this perspective, it is therefore understandable that Kachikwu's statement to the effect that he has no solution to petrol scarcity bedevilling the country drew flaks from Tinubu and this does not, in any way, imply that there is a crack within the party. "In African culture, it is seen as irresponsible for an elder to watch a youngster or an inexperienced person blunder without immediately calling him to order. "Furthermore, the South-South chapter of the APC feels that Kachikwu has not entirely cast off the orientation of the Peoples Democratic Party where he was and this is manifest in his actions and utterances, such as the recent one that attracted opprobrium from many Nigerians." Meanwhile, the Peoples Democratic Party (PDP) has described Tinubu’s criticism of Kachikwu as an internal wrangling between the godfather and a minister. PDP, through its Deputy National Publicity Secretary, Alhaji Abdullahi Jalo, said Tinubu lacks the moral right to criticise the minister knowing the role he played in the emergence of APC-led Federal Government. The party noted that as an elder statesman, what the APC National Leader should have done was to draw the minister's attention on what he considered his shortcomings. The PDP also taunted the APC-led Federal Government for underestimating the petroleum situation in the country. "If there is anybody that can condemn Kachikwu in this country it is not Bola Tinubu, knowing the antecedents and record of Bola Tinubu who was Lagos State governor. We need a credible person to do that," the party added. It noted that APC had promised to provide adequate petroleum products to Nigerians "without considering the implication and the economic downturn.” “They were in a hurry to make some statements with regard to petroleum and other issues of the nation," Jalo said. PDP, however, faulted the minister's statement

CONTINUED ON PAGE 5

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Orphaned by boko haram terrorists

Governor Kashim Shettima of Borno State in a group photograph with children orphaned by Boko Haram during his visit to Kano... at the weekend.

Balarabe, Yakasai, Abdullahi, Okorie speak on Tinubu-Kachikwu faceoff Felix Nwaneri, Ibrahim Musa and Temitope Ogunbanke

minent Nigerians yesterday commended the National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, for speaking out on what they described the failure of the Federal Government to resolve the lingering fuel crisis. But some of the speakers described Tinubu’s position as grandstanding. Among those who spoke with New Telegraph on Tinubu’s statement in which he blasted the Minister of State for Petroleum, Dr. Ibe Kachikwu, over his comment on the fuel scarcity include former Vice Chancellor of Ahmadu University (ABU), Zaria and spokesman of Northern Elders’ Forum (NEF), Prof. Ango Abdullahi and former governor of old Kaduna State, Alhaji Balarabe Musa. Others are elder statesman and chairman of Northern Elders’ Council (NEC), Alhaji Tanko Yakasai; National Chairman of United Progressives Party (UPP), Chief Chekwas

Okorie and National Publicity Secretary of Yoruba Unity Forum (YUF), Dr. Kunle Olajide. Abdullahi told New Telegraph that Tinubu’s statement on Kachikwu’s comment shows that things are not going on well with the APC administration. He said: “Senator Tinubu’s statement is sending a clear signal that things are not going on well in the APC administration. What he is saying in essence is that if he were President Muhammadu Buhari, Dr. Ibe Kachikwu, the Minister of State for Petroleum, will not last a day longer in office. This is an indictment of both his party and the Federal Government. “There are so many Kachikwus in the government; it is only his failure that has come out so glaringly. There are so many Kachikwus in the corridors of power whose appointments were based on loyalty.” Musa, a leader of the Peoples Redemption Party (PRP), said the development portends great danger for the nation. “Well, I think you have to see it in terms of the whole state of the nation and the government in

power because this failure to solve the fuel scarcity has serious implications for the government of the day. The president himself is the Minister of Petroleum Resources. Now, if the ministry that is directly under the president can fail so woefully, what do you expect of other ministries like education, power etc.? “If the one under the president cannot succeed, you can’t expect the others to succeed. And it means that if the situation continues, we cannot expect this government to succeed because somebody has to be in control to make it succeed. “If Bola Tinubu as the leader of APC has said what he said, I think the next logical step is to remove the minister. He has failed. Because Tinubu should know the situation of things more than anybody apart from the president,” he said. Yakasai, on his part, said Tinubu’s outburst is a reflection of lack of teamwork and synergy on the part of leadership of the ruling party. His words: “It is reflection of lack of synergy on the part of APC leadership

in dealing with problems confronting the country; not only in respect of petroleum products but other issues. This is occasioned by the fact that the party was not prepared for governance. The party concentrated its attention on taking over power, but there was no programme for the party to implement and this is the reason why you find this type of friction among the party leaders. There is no collective approach to issues or collective solution to problems faced by the country. “Tinubu is a leader of the party and Kachikwu is a minister and both of them should be part and parcel of making decisions for the party. So, Tinubu’s outburst against Kachikwu shows lack of

5.7m

The total number of people living with HIV virus in South Africa as at July 29, 2008. Source:Blatantworld.com

The number of own goals for scored by Argentina at Brazil 2014 world cup. Source: Fifa.com

NEWS

MONday, March 28, 2016 NEW TELEGRAPH

Terror: Massive security deployed in public buildings, others Our Correspondent

here are strong indications that the Nigerian Armed Forces, the Police and other security and intelligence agencies have stepped up their security and intelligence architecture, in a bid to frustrate any planned terrorist attack in the country. New Telegraph gathered from highly placed military and security sources that the need to up the ante followed last Tuesday's terrorist attacks in Brussels, Belgium, where many people were killed and scores injured. Sources, who spoke in confidence with New Telegraph, said considering the pattern of recent attacks in Belgium and Paris, France, security has been beefed-up around critical assets such as airports, sporting facilities, public buildings, as well as embassies. It was further learnt that the Federal Government has insisted on better synergy among all security and intelligence agencies, in an effort to combat extremist and other criminal tendencies in the country. "At a time like this, we cannot afford not to up our game, more so that terrorism is a threat to global peace and security, and Nigeria is not an isolated country. "We have taken extrasecurity measures to protect our territorial integrity, our collective pride as a nation, and above all,

the lives and property of our citizens and those who reside here," one of the sources said. The source, who refused to disclose the strategy, however, said "security architecture around airport corridors has been heightened, and the same goes for other critical national assets." Meanwhile, the Defence Headquarters (DHQ), yesterday, said the military will spare no effort at ensuring that there are no security lapses in the country. Speaking with New Telegraph on telephone yesterday, the Acting Director of Defence Information (DDI), Brig-Gen. Rabe Abubakar, said: "We have always taken extra-security measures to ensure that there is no security lapses. "More significantly, we have embarked on media campaign to continue to enlighten our citizens on the need to be vigilant and security conscious, as recent happenings elsewhere have shown that terrorists have devised means of attacking civilians. "We have taken serious security measures, and we will remain at alert until we achieve the desired objective of keeping our country safe." The Federal Airports Authority of Nigeria (FAAN) confirmed that it has beefed up security in and around all the airports in the country. Spokesman for FAAN, Yakubu Dati, said sniffer dogs have been deployed to airports in conjunction

with the Nigerian police. Dati noted that that the authority would not leave any stone unturned to ensure maximum security at the airport. He said all the body scanners and Close Circuit Television gadgets were operational at the airports. New measures include increased checks on those who were entering terminals and additional patrols within the terminal buildings. The development is coming at a time the nation is still battling Boko Haram fighters, who have been terrorising the North-East since 2009. It will be recalled that on April 14, 2014, a twin bomb explosion hit a crowded motor park at Nyanya, a suburb of Abuja. Over 50 people were killed, with

scores injured. About two years after the deadly incident, the park remains closed, as the luxury buses that operated there, now park some 500 metres away. Before the Nyanya bomb explosion, Boko Haram suspects had attacked the convoy of a former Inspector-General of Police (IGP), Mr. Hafiz Ringim, while being driven into the Force Headquarters in Abuja. Sometime in October 2015, the sect carried out simultaneous attacks on Kuje, the Federal Capital Territory (FCT) and Nyanya, leaving at least 10 people dead. Also bombed at different times in Abuja, were the United Nations (UN) building and the office of ThisDay newspapers.

In his inaugural address on May 29, 2015, President Muhammadu Buhari had vowed decisive action against the Boko Haram sect, even as he ordered the movement of the Military Command and Control Centre (MCCC) to Maiduguri, the Borno State capital. There have, however, been suicide bomb and other attacks on villages and some places of worship in the North-East, leaving on its trail, deaths and destruction of property. Notwithstanding, the DHQ had assured, a few days ago, that "the Armed Forces of Nigeria would continue to fight in order to consolidate the successes recorded so far and assured Nigerians that no inch of the Nigerian terri-

tory would be allowed to be bastardised by any force of darkness again." It further reassured "the good citizens of our great country that all captives under the coffer of the Boko Haram terrorists would regain their freedom with the ongoing military’s final offensive against the terrorists."

2.23m

The total population of women of Georgia in 2012. Source: Un.org

27.5

The number of active mobilebroadband subscriptions per 100 inhabitants of developed countries in 2008. Source: Itu.int

Deeper Life Bible Church orchestra performing at the National Easter Retreat of the church in Suleja, Niger State… yesterday. PHOTO: nan

Tinubu lacks moral right Fuel Crisis: Jonathan’s backs Kachikwu to criticise minister – PDP Gunmen abduct Army ex-aide Wale Elegbede

Colonel in Kaduna Ibraheem Musa Kaduna

senior army officer serving in the Nigerian Army School of Infantry, Jaji, Col. Samaila Inusa, has been abducted. Inusa was abducted around Kamazo area, near the Kaduna Refining and Petrochemical Company junction about 7:30p.m. on Saturday. Deputy Director of Army Public Relations, Col. Usman Abdul, in a statement issued yesterday, stated that the abductors dropped off Mrs. Inusa, but whisked her husband away with his black Mercedes Benz car with Abuja registration number KUJ 154 TZ and headed towards Abuja. ''Anybody with useful information or assistance should please assist in tracking these abductors,'' the statement appealed.

The General Officer Commanding (GOC) 1 Mechanized Division of the Nigerian Army, Major General Adeniyi Oyebade, has promised N500,000 cash reward for anyone with useful information that could lead to the release of Inusa. Spokesman for 1 Division, Colonel Abdul Usman, however assured that such information would be treated with utmost confidentiality. It would be recalled that the President of the Kaduna-based United Church of Christ in Nigeria, Rev. Emmanuel Dziggau and two others, were also kidnapped by gunmen last Tuesday. The gunmen, who were said to have been wearing masks, reportedly stormed the crusade ground of the church on Monday and abducted the clergyman and two members of the church while other church members managed to escape.

former Senior Special Assistant to exPresident Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, has said the Minister of State for Petroleum and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, was right to say that the present fuel crisis will tarry till May. In a statement posted on his Facebook account, Okupe said he knows Kachikwu by reputation, stating that he has noticed a high level of professionalism and candour in the oil sector since the minister assumed office. He said: “The Minister of State for Petroleum is a Nigerian I know by reputation only. When he was appointed, I actually wondered why on earth will a man in his exalted international position and pedigree come into the murky arena of the Nigerian oil business. It can only be patriotism.

“Since he assumed office, I have noticed a high level of professionalism and candour. But Nigerians abhor the truth. The minister said a few weeks ago that it is cheaper to import fuel than process our crude locally. I thought that should be obvious to all discerning minds. Our newest refinery is 35 years old. “Second, the minister said this present fuel crisis will tarry till May and all hell was let loose. The Hon. Minister is right. He quietly informed the nation that the NNPC is now responsible for 100 per cent of our fuel imports. The reason for this anomaly is not far-fetched. “We consume 40 million litres of PMS daily. At about $645/tonne, that comes to about 55 cents per litre is $22m/day. Which importer and which bank in Nigeria of today can open $22 million daily? Not even the almighty NNPC! So, that is the real cause of the scarcity. The truth is what the minister said it’s not going away soonest.”

CONTINUED FROM PAGE 2

that he was not a magician. According to the party, petroleum product is something that affects the country's economy. "It is wrong for him to say he is not a magician, it is equally bad for him as a minister to allow fuel scarcity to linger for a long time. We have the means; the government is retrieving a lot of money from looters and other sources. So, what went wrong?" PDP asked. Tinubu had berated Kachikwu over his statement that the fuel scarcity will last till May and that he is not a magician. In a statement made available to the media on Saturday, Tinubu said: “Much public ire has been drawn to the statement made by Minister of State (Ibe Kachikwu) that he was not trained as a magician and that basically Nigerians should count themselves fortunate that the NNPC, under his stewardship, has been able to bring in the amount

of petrol fuel it is currently doing. “…With so much on the line, Kachikwu’s flippancy was out-of-line. He was basically telling Nigerians that they should be lucky that they are getting the inadequate supply they now suffer and that they should just be quiet and endure the shortage for several weeks more. “Kachikwu’s intervention was unhelpful. It panicked and disappointed the public as to the duration of the crisis. It insulted the people by its tonality. He spoke with the imperious nature of a member of the elitist government the people voted out last year and not the progressive one they voted in.” Tinubu told the minister “that he was not coerced to take this job.” He said: “He (Kachikwu) accepted the job and its responsibilities knowingly. He also must remember that he does not own NNPC… In talking to us in such a manner, he committed an act of insubordination.”

NEWS

MONday, March 28, 2016 NEW TELEGRAPH

Ex-CDS eats personal food in Kuje –Prison spokesperson Johnchuks Onuanyim Abuja

he Nigeria Prison Service (NPS) has acceded to the request of former Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh, to allow him eat personal food in Kuje Prison. Badeh, who is facing charges in court over alleged money laundering, had refused to eat prison food with other inmates. Spokesperson for the NPS, Francis Enobore, told New Telegraph yesterday that the former CDS applied for selffeeding and his application was granted. According to him, there are rules guiding inmates in the Prisons

and one of such rules is the feeding process. He explained that the Prison Service feeds inmates thrice a day but every inmate has the right to demand for his feeding if he or she so wishes. According to him, such inmates must put his request in writing to be approved by officer in charge of the Prison. Also, he explained that the inmates must be able to abide by the regulations to opt for personal feeding. He stated that such conditions are, that such food must be brought cooked; it must be brought by a person known by the prison officials; and the food must be tasted by the person bringing it. He added that the in-

mate cannot improvise with the prison food if his was not made available. Speaking of the feeding pattern in the prison, Enobore said: "As part of our rules of engagement, when an officer comes into the prison, what we tell the person is this is-

sue of feeding pattern. "The prison feeds all the inmates in its custody three times a day. However, if you have the option to feed yourself, if you feel that you will not be part of what we would be providing, you can but with a caveat that whoever the inmate chooses

to be bringing the food, must bring cooked food; the person must be known to the prison authority; and person must taste the food when he submits it. “If the person that brings your food, for whatsoever reason failed to bring you food, you cannot improvise

Al Jazeera to sack 500 staff worldwide

l Jazeera Media Network yesterday announced a fresh round of job cuts of around 500 positions worldwide with most of them at the network’s Doha, Qatar, headquarters. In total, the job cuts will reduce Al-Jazeera’s staff number from around 5,200 to 4,000.

Announcing the job losses in a statement, acting Director General, Mostefa Souag, said the cuts would allow the network “to evolve our business operation in order to maintain a leading position and continue our recognised commitment to high quality, independent and hard-hitting journalism around the

world. “While our decision is consistent with those being made across the media industry worldwide, it was difficult to make nonetheless.” He added: “However, we are confident it is the right step to ensure the network’s long-term competitiveness and reach.”

National Youth Service Corps (NYSC) cultural troupe performing during the 2016 World Tuberculosis Day in Abuja…at the weekend. PHOTO: nan

Presidency kicks over dilution of FG’s stakes in Transcorp Hilton CONTINUED FROM PAGE 1

a single item of cash call was deliberated by board members. The cash call is simply to call on existing shareholders to contribute equity for the expansion of business and government failed to make its contribution, leading to the dilution of its share. “But this is wrong. When a core investor buys into an enterprise, apart from the bid price you pay, you also submit a business plan for your future expansion. So, it's wrong asking government to contribute another money for equity expansion. This is because all the future expansions are supposedly captured in the business plan submitted to the BPE during bidding process. “So, diluting government's share because it did not meet up with cash contribution is criminal and a breach of trust and the immediate past management of BPE acted wrongly." According to the source, the ideal thing to do is, "if they had finished all their

expansion and they still need additional funds, the right and proper thing to do is to advice the Federal Government to sell its shares through IPO to raise the money, or sell to core investor, but certainly not to dilute government's equity holding. Cash call shouldn't have been done. They are supposed to do their expansion, which is incorporated in the business plan.” Efforts to get Transcorp Hotels’ response to these allegations were abortive. Both phone calls and Short Messaging System (SMS) sent to the Managing Director/ CEO, Mr. Valentine Ozigbo, were not responded to. BPE spokesperson, Alex Okoh, was not also available for comment. However, a very senior management staff of BPE, who pleaded not to be quoted because of the sensitive nature of the issue, confirmed that a letter was sent to BPE by the core investor asking government to contribute its portion of funds for expan-

with the one provided from the prison kitchen. All these conditions are made known to you before you apply." The prison spokesperson stated that Badeh had applied to be fed from food from outside the Prison and his application was approved.

sion. He said BPE management briefed government on the subject of the letter. Besides, he said the letter was also very specific of time frame within which government’s contribution must be made. "To conclude that BPE did not inform government is wrong. The main handicap was the timing within which they expect these funds to be made available. In fact, I recall that BPE protested about timing and we sought for extension of time, which the core investor granted, but yet government did not meet up with extended time. Business is guided by rule. If there is board resolution and a particular party fails to respond within the time frame, then the board will go ahead. Timing was a major factor because what they wanted to do is Rights Issue," said the BPE source. Former Director-General of BPE, Mr. Benjamin Dikki, had repeatedly in the past said that the Federal Government will only

divest from its interest in various businesses it owns or co-owns depending on the profitability of such businesses. Speaking during the first Annual General Meeting (AGM) of Transcorp Hilton Hotel in Abuja, Dikki said the government’s sale of shares in Transcorp Hilton Hotel Plc., and some recently privatised Electricity Distribution and Generation Companies (DISCOs and GENCOs) will depend on the profits made by these companies. Government, Dikki said, would not want to expose potential shareholders and investors to unprofitable enterprises considering that shareholders are investing their hard earned money. The ex-BPE boss had noted: “Government’s 49 per cent shareholding is now being diluted because government has not yet taken up its rights issue, and government has enjoyed high dividend from this stock.” Speaking with journal-

ists at that AGM, Managing Director, Transcorp Hilton Plc., Valentine Ozigbo, said Transcorp Hilton would, in the next five years, adopt a phased approach in developing high-end hotels in Ikoyi, Port Harcourt, Ikeja and Warri, as well as a convention centre and apartment complex in Abuja. He said the company would be raising up to N8 billion through the IPO offering of 800 million ordinary shares of 50 kobo each at N10 per share to capitalise the development of new projects. The company, he said, would utilise the proceeds from the IPO to develop two high end hotels in Lagos and Port Harcourt and major commercial centres, in order to capitalise on the increasing demand for world class amenities, while Hilton Worldwide will serve as the Operator/Manager of all the proposed new developments, which will become part of the international Hilton Hotels chain across Nigeria.

According to one AlJazeera official, up to 60 per cent of the job cuts – 300 positions – could come at the broadcaster’s Doha base. Recently, the Network announced the future expansion of its international digital service across multiple platforms into the United States. The official told AFP that job losses could begin to be enforced within the next week and most would be in non-editorial positions. Staff members were apparently told yesterday that Al-Jazeera English would be spared. One employee at the network, who did not wish to be named, told AFP that the job losses were expected, but that had created “a lot of paranoia” among staff as they waited to be officially told. “We have been waiting for this announcement. Since the middle of January, we were told next week, then next week, there was a lot of speculation,” the source said. Al-Jazeera media network broadcasts in several languages. On top of existing losses of 700 jobs following an announcement earlier this year that Al-Jazeera America is to close, it means the broadcaster is set to shed more than 20 per cent of its global workforce. It has around 80 bureaus worldwide and AlJazeera English reaches 270 million homes every day, says the broadcaster. Launched in 1996, Al Jazeera was the first independent news channel in the Arab world dedicated to providing comprehensive news and live debate.

1.5%

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

69%

The percentage of individuals using the internet in Aruba in 2011. Source: Itu.int

NEWS

MONday, March 28, 2016 NEW TELEGRAPH

PDP chairmanship: Sheriff intensifies campaign to remain in office Onyekachi Eze ABUJA

ith about two months to the scheduled National Convention of the Peoples Democratic Party (PDP), National Chairman of the party, Senator Ali Modu Sheriff, is seriously lobbying to remain in office. Sheriff's confidence was bolstered by the resolution of the South-West delegation who visited him two weeks ago. The delegation, with the support of Senator Kashamu Buruji, wants the North to retain the national chairmanship position. Sheriff has, since the South-West’s visit, reached out to some leaders of the party to adopt him as consensus na-

500,000

The estimated number of pregnancies that end in miscarriage (occurring during the first 20 weeks) in the US yearly. Source: Hopexchange.com

tional chairman at the forthcoming national convention on May 21 in Port Harcourt. PDP has zoned the 2019 presidency to the North. And in line with the party's constitution, the presidency and national chairmanship position should not be in the same zone. Though a special committee set up by the National Working Committee (NWC) has not come out with its zoning arrangement for national offices, the national chairmanship position is expected to go either to South-West or SouthSouth. Sheriff, who is said to be interested in the presidency, is planning to remain in office till 2018 and handover to a Southerner. This is for him to be politically relevant before 2019.

4,365

The number of pending asylum seekers of Italy at the beginning of 2010. Source: Blatantworld.com

Balarabe, Yakasai, Abdullahi, Okorie speak on Tinubu-Kachikwu faceoff CONTINUED FROM PAGE 2

deeply about what he says. “This is not his first time; he has had occasion to apologise not once or twice, even to workers. Kachikwu is a very brilliant man, well exposed in that field and capable of doing his job very well, but his choice of words are not the best. “Everybody knows that Tinubu had not been completely happy with a few things that the Buhari government had done, especially in the area of appointments, and so coming out to strongly condemn the aide of the president is a clear indication of that crack. I believe that as a national leader of the party, he could have expressed his reservation to Mr. President and, at worst of it, they will invite Kachikwu in-house to advise him on how to address such issues to the public. “What Tinubu did was more of grandstanding; trying to get the public to see him as man of the people and the leader of a ruling party ought not to indulge in grandstanding. So, I will also advise Tinubu to try and sort out his frustration internally.” Olajide, who commended Tinubu for publicly condemning Kachikwu’s outburst, said: “As leader of the people, you will expect any other people in leadership position to consider the suffering of the masses and not to make

statements that appear to be insensitive to the suffering of the people. Kachikwu’s statement, to say the least, is grossly insensitive to the suffering of the Nigerian people and it is carelessness to say he is not a magician. “Of course, we know that he is not a magician, but he must have realised the enormity of the assignment that he took up before he accepted to be Minister of State for Petroleum. So, I agree entirely with Tinubu, and all that he (Kachikwu) needs to do is to apologise to Nigerians and find a solution to the problem of fuel scarcity rather than throwing up his hands as if he has no clue as to what to do. “As far as I am concerned, I think Tinubu, by his statement, is just being leader of his people. Because sometimes when you get into government, you should not pay priority on party affiliation above the national interest. It is in that line that I see Tinubu’s comment. “He is not working against his party, but he is being realistic because he does not want his party in government to get totally disconnected with the people. And that was why he had to speak for the people on that occasion, so that at least Nigerians would realise that there are still leaders of the ruling party that has feelings for their pains and agonies.”

In furtherance to his lobby to remain in office after the national convention, the national chairman played host to former elected governors and deputy governors who are still in the party last Wednesday. He has equally reached out to some members of the Board of Trustees (BoT), including a former chairman of the board. “He was with a former leader of the party last week. His mission was basically to solicit support in his bid to remain in office beyond May,” a source close to the former chairman of PDP BoT told New Telegraph. A source disclosed that

he has even met with former President Goodluck Jonathan in a bid to win him over to his side. The former president was one of the ardent supporters of Sheriff. Within the party's National Secretariat, Sheriff has etched himself in the heart of the workers; they are already singing his praises. Despite the claim that the party is broke, the National Chairman has embarked on renovation of facilities. He personally supervised the payment of the workers' Easter allowance last Thursday, the first time in recent past the workers were to be so treated.

The South-West leaders had noted that activities in the PDP National Secretariat had picked since Sheriff emerged as national chairman. The national chairman's lobby team is also reaching out to some PDP members in the National Assembly and other members of the party. But Sheriff's problem will be some NWC members who may also want to remain in office. The tenure of the NWC members is supposed to end this March, but has been extended till the May 21 National Convention. A source at the PDP National Secretariat disclosed that some NWC

members are equally lobbying to remain in office. "They see the clamour for Sheriff to continue as national chairman as opportunity for them to push for their re-election. They are planning to embark on media campaign very soon," the source added. Part of the agreement brokered by PDP Governors' Forum that made those opposed to Sheriff's emergence as national chairman to soft pedal was that he would organise a national convention within three months and handover. His attempt to succeed himself might reignite crisis in the party.

L-R: Registrar, Lagos Diocese, Cathedral of Christ, Justice Olurotimi Williams; Senior Special Assistant to the President on Sustainable Development Goals (SDGs), Mrs. Adejoke OrelopeAdefulire; Bishop of Lagos Diocese, Most Revd. Ephraim Ademowo and Hon. Justice George Oguntade, after the Easter service… yesterday. PHOTO: TONY EGUAYE

NASS mgt replies AGF on N10.6bn query Philip Nyam Abuja

he National Assembly management had, since September 29, 2015, submitted relevant documents in response to the queries raised by the Office of the Auditor General of the Federation (OAGF) on the N10.6 billion. The OAGF had, in the 2014 Audit report submitted to the Clerk of the National Assembly (CNA), Alhaji Salisu Maikasuwa, last Monday, alleged that the National Assembly bureaucracy did not retire the sum of N1,162,009,305 granted to 112 staff from recurrent votes and 50 staff from General Service Vote from July to December 2014 for various purposes. The report also added that additional sum of N9,514,568,222.62 payments were made without raising payment vouchers at the management department, which violates financial regulation 601. But a top management

of the National Assembly told New Telegraph on condition of anonymity that it was curious that the AGF’s query came up again months after the bureaucracy had responded. He described the AGF’s annual audit report as a working document for the Public Accounts Committees of the Senate and House of Representatives, who will in turn invite all the parties concerned. He, however, expressed concerns on why the AGF failed to list the State House and other ministries, departments and agencies (MDAs), which expend billions of taxpayers’ money on food items and kitchen utensils. “Do you know that several overheads of the MDAs, which have about 150 staff, get several billions of naira as annual budgetary allocation while National Assembly, National Assembly Commission, National Institute of Legislative Studies and Public Complaint Commission only get N115 billion, with

over 10,000 workers? Yet no one bothered to query the expenditure of the MDAs,” the source said. He explained that it was customary for the AGF to raise queries and observations on issues while scrutinising the financial records of public institutions including the legislature. “As you can see in these spiral-binded documents, the OAGF officials acknowledged receipt in relations to the same report being brandished without informing the public that it’s not an indicting report. “But with what is obtainable presently, it looks like someone is failing in his duties and hiding under the guise of exposing corruption. Rather than portraying this institution in bad light, all those responsible for the audit should be guided in discharging their responsibilities. “The queries have been answered promptly. We explained that these documents required by the OAGF are bulky and since there are officers

assigned to do this work, they should be diligent enough to have firsthand information by sighting the documents. I think we have done our best in this regard. “On our part, we have cleared all the grey areas as contained in the acknowledged report dated September 29, 2015. The onus is on the AGF to prove otherwise,” the source noted. While reacting to the AGF queries, a member of the House of Representatives’ committee on public accounts, Hon. Kehinde Odeneye (APCOgun), said the audit report “is not an indictment to the extent that they stole, but that they did not respond on time to the Auditor General's queries.” He, however, noted that the recent bill which seeks to grant the office of the Auditor General of the Federation the financial autonomy and first line charge, was to cure the “systematic problem which made MDAs to ignore the office of the Auditor General.”

NEWS | national

monday, march 28, 2016 NEW TELEGRAPH

Presidency: We’ll present APC calls for unity against terrorism T recovered funds in court

Johnchuks Onuanyim Abuja

he Presidency, over the weekend, stated that it would first present in court the funds recovered from looters of the country's treasury as exhibits, before making them public. The Senior Special Assistant on Media and Publicity to President Muhammadu Buhari, Malam Garba Shehu, stated this in a media chat with journalists in Abuja. Shehu also reiterated the commitment of the present administration to reposition the country in all facets. According to the Senior Special Assistant, the monies that have been recovered from the corrupt persons would be presented in the courts as exhibits before making them public. He said, "The issue of how much has been collected and the publication in all of this is that money retrieved is money to be used as evidence in court, which means the President said two things; we will recover and we will prosecute. So, as it is now, you don't go and bring all these millions returned but I am aware that there is an account in the CBN where some of this funds are be-

ing put in but there are evidences for the judge to see and not for public display. I think that is the challenge we have at the moment". Shehu stated that the present administration has done so much but that the former headship of the National Orientation Agency sabotaged the administration by not publicizing the achievements of the government. He stated that it formed the reason why the President relieved them of their duties. Responding to a question on why the administration was not projecting its achievements, he said: "l believe that more needs to be done. I agree with you. We have an agency like NOA with 773 offices nationwide. Each has not less than 5-7 staff, well equipped but you know also, sometimes democracy has its own dark side. "The President came and he wanted to really be fair to every Chief Executive. If he wanted to fire people on assumption, he would have done it and he would not have violated any rule but he decided to give everyone a chance to see whether they would imbibe the change mantra, or they were prepared to come along. "I will say with all sincerity that I know that the NOA had worried us in government. The

Kwankwaso’s supporters call for ceasefire Muhammad Kabir Kano

orried by the needless political crisis rocking the All Progressives Congress(APC) in Kano, as a result of the feud between Governor Abdullahi Umar Ganduje and his predecessor, Dr. Rabiu Musa Kwankwaso, former political appointees under Kwankwaso have called for a ceasefire. The Kwankwaso loyalists and some APC stakeholders in the state have commended President Muhammadu Buhari for intervening in the dispute. In a communiqué signed by a leading stakeholder in the party, Dr. Inusa Adamu Dangwani and made available to news men in Kano, yesterday, the former political appointees in the state recalled with the immense contribution of Kwankwaso in building a strong base for the APC in Kano State. They also acknowl-

edged the unflinching support, commitment and loyalty of the former political appointees and elected officers, including Ganduje, who had worked with Kwankwaso in facilitating the achievements recorded. They stressed the need for a collective effort on the part of stakeholders in the APC to ensure the success of the current reconciliatory effort brokered by the President and supported by six governors of the North-west geo-political Zone.

staff and the leadership never believed in what we are doing; they never believed in change. They just folded their arms and watched us from all this period 8-9 months when they were there. I believe the new leadership would begin to formulate things for agencies like that.” Shehu revealed the plans of the Federal Government to unleash over N3trillion saved from the Single Treasury Account, TSA on the public sector, following the passage of the 2016 budget by the National Assembly. Shehu, who appreciated the government concern for sufferings of Nigerians, also disclosed that the Federal Government has delayed appointments into parastatals and agencies because it plans to restructure and modify them to fit into the existing ministerial structure.

he National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, has called for greater cooperation between the international community and Nigeria towards defeating terrorism. Odigie-Oye gun’s call was contained in his Easter message of goodwill made available to newsmen by Mr Edegbe Odemwingie, the APC Deputy Director of Publicity in Abuja yesterday. The APC national chairman urged Christians in the country to pray for peace, development, and prosperity of the country, as well as emulate the humility, tolerance, and selflessness of Jesus Christ.

2.18m

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

He also urged the Christian community, especially religious leaders, to always promote religious harmony between and among its various religious groupings. “In the wake of the recent gruesome March 22 Zaventem Airport and Maalbeek Metro Station terror attacks in the Belgian capital, Brussels and the March 25 stadium suicide attack in the Iraqi capital, Baghdad, the need for greater international cooperation in the fight against global terrorism is reinforced. “No country is insulated from the global terrorism threat. Our best chance is to come together as a unified front to defeat this global threat. “I call on all Nigerians, irrespective of religious, ethnic, and political affiliations to support government in the fight against violent extremism, abductions, mass killings, politically-

L-R: Lagos State Commissioner for Home Affairs, Dr. AbduHakeem AbduLateef; National Missioner, Nasrul-Lahi-LFatih Society (NASFAT), Sheykh Abdullah Akinbode and National Amir, The Muslim Congress (TMC), Dr. Luqman AbdurRaheem, during NASFAT’s Walk for Religious Harmony in Lagos…yesterday

I didn’t call Kano people ungodly –Dogara Philip Nyam and Chukwu David

peaker of the House of Representatives, Hon. Yakubu Dogara, has dissociated himself from a statement issued on his behalf suggesting that the fire outbreak in Kano was punishment for the sins of the people. Dogara’s denial was contained in a statement issued by his Special Ad-

viser on Media and Public Affairs, Turaki Hassan, yesterday in Abuja. It read: “The attention of the office of the Hon. Speaker of the House of Representatives, Rt. Hon Yakubu Dogara, has been drawn to a statement purportedly issued from his office on the Kano market fire disaster on Saturday, March 26, 2016. “The statement quoted the Speaker as saying that

it is only when people are godly that such incidents will cease to occur, thereby implying that the fire outbreak is punishment for sin allegedly committed by businessmen and women in Sabon Gari market, Kano. “We wish to make it categorically clear that the said statement does not in any way reflect or represent the opinion and official position of Mr.

Bello wants Nigerians to emulate Lalong denies skewed appointments Musa Pam Christ's sacrifice Dan Atori MINNA

he Niger State Governor, Abubakar Saani Bello, has called on Nigerians to draw lessons from the selfless lifestyle of Jesus Christ and place the

motivated killings, and other criminal activities. “Also, the public should remain vigilant and cooperate with security agencies in the fight against all criminal activities. “While we salute and pray for our armed forces, the police, and other security agencies fighting to restore peace and normalcy in Nigeria's North-East, let us be rest assured that the end to the Boko Haramled insurgency and other forms of terrorism by the extremist sect is near.’’ He assured Nigerians of the commitment of the 10-month old APCled administration of President Muhammadu Buhari to delivering on the Change Agenda it promised Nigerians. ``The 2016 National Budget recently passed by the National Assembly provides ample framework to deliver on these promises," he said.

country above themselves. The Governor in an Easter celebration message at the St. Peter's Anglican Cathedral Church, Minna, yesterday said with the collective effort of everyone, the country can overcome its current economic challenges.

Jos

overnor Simon Lalong of Plateau State has debunked allegations of lopsided appointments by his government, saying the allegations were baseless and unwarranted. Lalong, while reacting to

the allegation of marginalization in his administration through his Senior Special Assistant on Media and Public Affairs, Hon. Mark Longyen, yesterday in Jos, described the allegations as untrue. He said that Lalong’s administration has not exhausted the appointment and the governor cannot appoint all the groups.

Speaker”. According to the statement: “As a responsible and responsive leader, the Rt. Hon. Speaker could never have blamed the incident on the same people who lost their properties worth millions of Naira in the inferno. “It would be recalled that Mr. Speaker sent a powerful and strong delegation of leaders and members of the House of Representatives to console with the people and government of Kano State when a similar incident occurred last month. “We strongly believe that what the people need at this moment of their loss is empathy and not chastisement. Meanwhile, the President of the Senate, Senator Bukola Saraki yesterday, commiserated with victims of Saturday's fire disaster in Kano.

national | news

monday, march 28, 2016 NEW TELEGRAPH

Adequate sleep essential for weight loss –Expert Appolonia Adeyemi

hen it comes to planning and executing activities to achieve weight loss, sleep is often overlooked. But medical experts say getting enough sleep is essential to successful weight loss. According to a report on AFP/Relaxnews, a wealth of scientific research supports the theory that people who get little sleep are at increased risk of being overweight or obese, as poor or insufficient sleep can lead people to be less active and snack more, often resulting in reaching for sugary or fatty foods to

occupy time. Weight loss, in the context of medicine, health, or physical fitness, refers to a reduction of the total body mass, due to a mean loss of fluid, body fat or adipose tissue and/or lean mass, namely bone mineral deposits, muscle, tendon, and other connective tissue. Also, reaching and maintaining a healthy weight is important for overall health and can help individuals prevent and control many diseases and conditions, including heart disease, high blood pressure, type 2 diabetes, gallstones, breathing problems, and certain cancers. Hence, maintaining a healthy weight is as im-

portant as it helps to lower the risk for developing these problems. However, while most people working to achieve weight loss focus on the use of diet and exercise; they hardly reckon with having sufficient sleep. A Consultant Nutritionist from The Necker Hospital in Paris, France, Dr. Laurence Plumey, however recommended getting at least seven hours' sleep per night to improve the chances of a successful weight loss. A recently published American study found that missing out on full nights of sleep- of at least seven hours- was linked to an increased consumption of sugary drinks and foods, as well

as a higher risk of obesity. It is important to listen to the body's cues and head to bed with the first yawn of the evening, Plumey recommended. There is no shame in going to bed at 10:30pm, she continues, “otherwise you risk losing out on 1½ hours of sleep before the next cycle.” Still, some people naturally need more sleep than others, and this genetic trait should be taken into account. As the specialist explains,” if you wake up on great form after five hours' sleep, then maybe you are someone who just does not need much shuteye.” Similarly, those seeking to lose weight should make the most of natural daylight, she added.

Osogbo

he Sultan Of Sokoto And president -General, Nigerian Supreme Council For Islamic Affairs, Muhammad Sa'ad Abubakar, yesterday said that the practice of Islam without love is vanity. He appealed to all Muslims in the country to live in love to make it a virile one. The monarch, who made the charge at the official commissioning of the Wings Schools Central Mosque in Iwo, Osun

can also make the sound of the Monday morning alarm a whole lot less painful,” she said. Other factors that could help to those seeking weight loss to achieve more sleep are cutting caffeine six hours before bedtime, getting some exercise, avoiding the mixing sugar and fat at dinner time as well as keeping off drinking alcohol. According to Plumey, anything that contains caffeine -- such as coffee, tea, yerba mate, energy drinks, sodas and chocolate -- should be avoided in the evening. Caffeine stimulates the nervous system and alters the activity of melatonin and adenosine, two neurotransmitters essential to the onset of sleep.

N12.6trn

L-R: Inspector General of Police, Solomon Arase; his wife, Agharese; Deputy InspectorGeneral of Police, Finance and Administration, DIG Dan'azumi Doma and wife of the CoOrdinating Chaplain, National Christian Centre, Abuja, Mrs. Nkechi Ogunmuyiwa, at the Thanksgiving Service of the Police Week in Abuja… yesterday. PHOTO: NAN.

Adeolu Adeyemo

Furthermore, the nutritionist said it was not always widely known, but spending days in rooms with low lighting levels and doing activities under artificial light dips into the body's reserves of melatonin, a hormone that allows the onset of sleep. Plumey said preventing this process during the day causes the body to secrete of higher levels of melatonin in the evening, which can favour refreshing, quality sleep. According to the nutrition expert, getting up at midday on Saturday and Sunday sets regular food intake off balance. “It's better to take 20-minute naps during the day to avoid breaking the weekday routine entirely. This

The total debt of Nigeria’s as December 2015. Source: New Telegraph Newspaper

Ex-FCT Minister allocated green area for residence Johnchuks Onuanyim Abuja

Sultan tasks Muslims on love for humanity State, argued that it was only in love that the progress of any country could be sustained. According to him:"Any society could be better lived if all Muslims close ranks and become agents of advancement. A good practicing Muslim should not pretend to be one but work religiously to uphold its doctrinal principle which is love". He, however, charged them to live as one and jettison acrimony and mistrust that could bring bit-

terness into their circle. In his own speech at the occasion, a first class traditional ruler in Osun State, the Oluwo Of Iwoland, Oba Adul Rasheed Adewale Akanbi, also charged Muslims across the globe to always centre their preaching of Jihad around love. Oba Akanbi, who argued that centering of Islamic preaching on Sharia of punishment and killing has caused a lot of setback, segregation and disharmony among Muslim faithful

in the country, affirmed that it was only Sharia of love that could promote peace in the circle. He opined that many qualities like tolerance, endurance, peace, harmony, mutual understanding, sacrifice among others were embedded in love and expressed optimism that, if love reigns supreme in the Islamic circles, remarkable progress would be recorded and appealed to them to always embrace love in their various dealings.

gainst the provisions of the Abuja master plan, a Minister of the Federal Capital Territory approved an area designated for garden and parks for a residential building. The approval, which was signed on behalf of the Minister by the Director of Land, Planning and Survey, Mallam M.S.U. Kalgo, was given in 2001. Also, the Departments of Development Control and Parks and Recreation have circumvented the original approval given to Obike Industries Limited by the authorities. Obike Industries Limited, operators of Peka Park and Garden was allotted 4.05 hectares of green area in Wuse Zone 3 in 2004 and it was recertified in 2007. However, in July 2007,

the Director of Parks and Recreation allocated part of the hectares to YAE International Limited without any revocation either in full or part of the first allotment. Similarly, in 2001, the Minister of the FCT allotted part of the hectares of Peka Park and Garden to one Mr. Abdulahi F. Dangama for a residential building. In the allocation paper to Dangama titled: Re: Application for statutory right of occupancy within the Federal Capital Territory, Abuja, the Minister said, “Please refer to the above subject matter and the approval of the Hon. Minister of the Federal Capital Territory to allocate to you Plot No.91 within Dutse (CGSS) Layout District for which approval was conveyed to you by Right of Occupancy No. MFCT/LA/NG. 2566 and which has been withdrawn for overriding public interest."

Three feared dead as gunmen Aviation contributes $1bn to economy annually –FAAN Wole Shadare invade Rivers community Emmanuel Masha Port Harcourt

hree persons were feared dead after gunmen invaded Aminigboko community, in AbuaOdua Local Government Area over the weekend. Sources said that the gunmen shot sporadically on Saturday night when they stormed the community and set ablaze some

houses. While the state Police Public Relations Officer, DSP Ahmad Muhammad, said a unit of anti-riot policemen had moved into the area to restore orderliness, he, however did not confirm the deaths. "The situation there is now calm as almost a unit mobile Policemen were deployed but have no details of death if any", he said.

he Federal Airports Authority of Nigeria (FAAN) said the aviation industry contributes $1billion to the country’s economy annually while providing more than 300, 000 jobs. The agency assured Nigerians that government would continue to ensure growth in the sector. Spokesman for the agency, Yakubu Dati, dis-

closed that most of the leakages observed in the past had been closed by the authority, stressing that this had made it possible for FAAN to scale the American Transportation Security Administration (TSA) security audit carried out earlier in the month at the Lagos Airport. Speaking on infrastructure of aerodromes, Dati stated that the Federal Government would require at least N25 billion

to construct perimeter and operational fences across all the 22 airports owned by it. He noted that a recent survey carried out by the authority indicated that to properly fence the 22 Federal Governmentowned airports, FAAN would need the massive sum. According to Dati, each of the 22 airports is about 50 kilometre-long and would require serious investments for all

of them to be properly fenced according to the International Civil Aviation Organisation (ICAO) recommended practices. Apart from the four international airports in Lagos, Abuja, Kano and Port Harcourt that are partially fenced, other 18 airports owned by the Federal Government are not fenced, a situation, which has led to porosity of the aerodromes and incessant cases of stowaways in recent times.

monDAY, MARCH 28, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Mother weeps as court remands son for robbery

Camillus Nnaji

60-year-old woman, Mrs. Folashade Balogun, broke down and wept at the Ebute-Metta Court last week, after her son, Opeyemi Balogun (22), was remanded in Ikoyi Prison for armed robbery. The mother of six children was apparently not weeping only because of the court order, but also because she had not seen Opeyemi for over five months since he was arrested on November 28, 2015. The court was the first time she would set eyes on him since his arrest. Folashade, a retired headmistress, described Opeyemi as a victim of circumstances. According to her, Opeyemi was wrongfully detained by the police in connection with bank robberies recorded last year in FESTAC, Agbara, Lekki and Ikorodu. Police alleged that Opeyemi and other gang members killed about seven persons during operations and carted away over N400 million from Zenith Bank, Diamond Bank, Access Bank, First Bank and First City Monument Bank

Opeyemi’s mother, Folashade Balogun

(FCMB) in 2015. She said: “I thank God Opeyemi is still alive. I have been praying and fasting for

his release. My son is not a criminal! On November 28, 2015, we expected him to come home, but we could

not reach him on the phone. Someone later told us that Opeyemi’s name was on the notice board of Elere Police

City Briefs

Motorcyclists cry out over N500 levy Taiwo Jimoh

otorcycle riders operating in Obafemi-Owode Local Government Area of Ogun State have kicked against the N500 imposed on them by their union. The motorcyclists at Mowe, Ibafo, Owode, Asese and Magboro gathered in their various communities on Lagos-Ibadan Expressway recently to register their grievances. Two persons were injured when the protest snowballed into a free-forall. One of them sustained deep cuts in his head and jaw, while the other sustained injury in his mouth. Residents were stranded as a result of the protest of the riders. Ibrahim Isa, a motorcyclist, said: “We are tired of the union; it does not have regards for us. The majority of us are Hausa at Mowe. We are not the

owners of the motorcycles we ride. jaw, while the other sustained injury Initially, we were paying N300, sud- in his mouth. We are not troublemakdenly they asked us to N500 for ticket ers. We were only telling them what every day. With the situation of the we didn’t want. Instead of listening to country, we told the union we couldn’t us, they attacked us.” pay such amount of money.” But when contacted, the state Another rider, Bashiru Ahmad, chairman of Articulate Motorcycle said the N500 was not the only money Owners and Riders Association (AMORAN) said the new levy was cyclists pay to the union. He said: “Even when we are pay- from the Ogun State Board of Intering N300, they still collect N200 from nal Revenue. us, which they called marker ticket. They also collect another N200, claiming that N100 is for the chairman and the other is for the police. We are tired of the extortion.” A rider, who spoke on the condition of anonymity, said: “We were protesting peacefully when the union unleashed their hoodlums on us. They injured our members. Two of our members who were protesting at Loburo Junction at Mowe, were attacked by the union. One of them One of the victims sustained deep cuts in his head and

abiodun.bello@newtelegraphonline.com 08023938212

Division in Agege, in connection with armed robbery.” Folashade said that all efforts to secure his bail were abortive. The woman said she filed a case through her counsel, O. O. Quadri, at the high court against the Divisional Police Officer (DPO) in charge of Elere, the Lagos State Commissioner of Police, Mr. Fatai Owoseni, and the InspectorGeneral of Police (IG), Mr. Solomon Arase, on charges of violation of Opeyemi’s fundamental human rights, unlawful arrest, continuous detention and abuse of his legal rights. She said: “He was denied right to food, drugs and clothing by the police. Police denied him all these, despite his very deplorable medical condition. It would not be in the interest of justice that the applicant may lose his life.” Opeyemi and three others were arrested by the IG AntiPipeline Vandalism Team in a hotel at Pillar Street, off Church bus stop, Oke-Riya in Ikorodu. He was arrested in connection with pipeline vandalism. But after further investigations by the police, Opeyemi was found to have connection with robbers who attacked banks in some areas of Lagos and Ogun states. The then Lagos State Police Public Relations Officer (PPRO), DSP Joe Offor, said then that Opeyemi was arrested by the IG’s Monitoring Team. Offor added that Opeyemi was also being detained in connection with robbery case.

Kidnapper’s informant held

olice have arrested a trader in Aba, Abia State for allegedly being an informant of kidnappers who have been terrorising the commercial city. The suspect, identified simply as Uwakwe, who sells second hand clothes and resides on Hospital Road, in Abia, was said to have given information to kidnappers over a period of time. His information has led to the abduction of prominent men in the area, among them a popular medical doctor and a businessman whose office was adjacent to the suspect’s house. A police source said Uwakwe’s business, which he used as cover, was to go to the New Ngwa Road Market and pick second hand clothes of the highest quality and resell them to prominent men in the city. According to the source, with this, the suspect became very close to some of the prominent men that he was able to monitor their movements and subsequently pass information to members of his gang. The suspect was said to have earlier this year coordinated the abduction of a very close prominent businessman from a beer join opposite the businessmen’s office and when the victim was released after paying ransom, Uwakwe went to sympathise with the businessman ostensibly to find out how much he paid for his freedom for him to know his own share.

METRO

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Investigate three friends’ killing, lawmaker tells CP Ughelli

IG, Arase

The three friends, Iwhiwhu, Onojighofia and Ogodo were alleged to have been murdered by vigilantes at Ekredjebo in Ughelli North Local Government Area of the state while they were playing a game of cards. The vigilantes had claimed they responded to a distress call that armed robbers were operating in the area. But Oharisi, who is representing the constituency, requested the killers of the children to produce identity of the person robbed, where he or she was and the person who made the distress call. The parents of the slain children had also complained that those who murdered their children were still moving around the community with the belief that they were above the law.

Nigerian rapes Briton in Dubai D ubai Criminal Court has been told a 30-year-old Nigerian salesman, identified as IS, raped a British teacher after forcibly entering her flat. According to prosecutors, on January 1, 32-yearold teacher, identified as JL, returned to her home in Silicon Oasis around 2a.m. “After I entered the lift, a man got in behind me. Then he asked me which floor I was staying. When the lift reached the 25th floor, I got out and the man followed me out. When I reached my flat and felt him behind me, I asked him why he was following me. He said he wanted to be sure that I got into my flat safely. I told him I did not need his help and asked him to stop accompanying me,” the woman told the court. The woman then opened the door of her flat. When she got in, IS pushed himself into the flat and pushed the woman onto a bed, according to Emirates News. “I tried to run out of the flat but he pulled me back onto the bed. He held my two hands and sat on me. XXXX I resisted

100 held for looting after Kano market fire Muhammad Kabir Kano

Gabriel Efeduku member of Delta State House of Assembly, Hon. Eric Oharisi, yesterday urged the state Commissioner of Police to investigate the alleged killing of his cousin, Odafe Iwhiwhu and his two friends, Kennedy Ogodo and Otamedaye Onojighofia, by members of the Vigilante Group of Nigeria (VGN). Oharisi, representing Ughelli North constituency II, made the call in his office after he received a petition on the alleged killing. The lawmaker said that the incident which occurred on March 1 where Iwhiwhu, Ogodo and Onojighofia were killed in cold blood could not be swept under the carpet. While assuring the petitioner that the petition would be sent to the appropriate quarter for immediate action, he said those involved in the killing would be brought to book. The legislator, therefore, called on the Delta State commissioner of police to ensure the culprits face the wrath of the law.

him while he was undressing me but I could not as he was stronger than me. Gradually, I lost all my energy and so he could rape me,” the victim told investigators. When he finished, the victim grabbed the opportunity and rushed to the bathroom. The rapist rushed behind her and prevented her from closing the door. She then thought that he may lock her in, so she inserted her fingers between the door and its frame. “When he left the flat, I put on my clothes, went to my friend, and reported the incident to the police,” said the victim. Forensic reported that the woman was subject to rape, there were some bruises on her body and sperms in and on her body. DNA test and fingerprints helped identifying IS as the teacher’s rapist. The teacher recognised her rapist when he was shown to her via identification parade. In addition to rape, the salesman was accused of entering a house against its resident’s will and assault. The court will reconvene on April 12.

olice said they had arrested about 100 suspected looters during fire outbreak which gutted the famous Sabon Gari market in Kano on Saturday. The state Commissioner of Police, Mr. Muhammad Katsina, disclosed this when Governor Abdullahi Ganduje visited the market yesterday. He said the suspects were apprehended by security personnel deployed to the market to ensure security of lives and property following the fire outbreak. Katsina said the suspects were arrested in different locations of the market while trying to escape with their loots. The police commissioner said the suspects would be charged to court as soon as investigation was completed. He said: “The suspects are presently in our custody and as soon as investigation was concluded, they will be charged to court.”

The burning Sabon Gari Market, Kano. PHOTO: oblongmedia.net

In his remarks, the governor said government had taken measures aimed at preventing future occurrence. Ganduje, who commiserated with the victims of the disaster, commended security personnel for ensuring adequate security during the incident. He also thanked various private companies who supported the state Fire Service in combating the inferno. Meanwhile, Kano

Electricity Distribution Company (KEDCO) has refuted allegations that fire incident was caused by an electric spark. “We wish to put the records straight that the fire incident at SabonGari market never emanated from power surge,” the company’s Chief Customer Relations Officer, Abubakar Yusuf, said in a statement. Yusuf pointed out that the feeder line supplying the market (11KV Murtala Mohammed feeder)

which gets supply from Club Road injection substation was out of circuit owing to load shedding since 5pm on Friday. He added: “It is also on record that the two dedicated transformers supplying the market are still intact and had no sign of any power surge.” Yusuf also blamed the Director of the state Fire Service, Mustapha Balarabe, for making statement linking the Sabon Gari market fire incident to electoral fault.

‘Lack of God’s fear responsible for corruption’

he President, Missionaries Army, Naval Chaplaincy (MANC), General Ezekiel Ajedegba (rtd), has blamed the unbridled corruption in the country on lack of fear of God by Nigerian leaders. Ajedegba said this

when he led the group on a visit to the Ogun State Police Command Headquarters, Eleweran, Abeokuta. He said: “We have been operating since 2012 and in 2013, we inaugurated the body; the Missionary Chaplaincy

MANC members and the representative of the police commissioner during the visit

and since then, we have been on the mission field to pray for the peace of this country. “Lack of fear of God on the part of our leaders is responsible for corruption. This is the reason we are praying that they should have the fear of God. “My message to leaders in this country is for them, to stop thinking of themselves and their immediate families alone and look beyond this and to the future of the nation. They should remember that they will soon pass away and the responsibility God has placed on their shoulders is to leave a good legacy for the coming genera-

tions. They will give account of this fact to God. They should always remember that.” Speaking during the visit, the state Commissioner of Police, Mr. Abdulmajid Ali, advised policemen to be more dedicated to their duty. Ali gave the advice through the state Police Chaplain (Protestants), Venerable Fakunle Oluseun, who is also an Assistant Superintendent of Police (ASP). Ali said that although the police could be adjudged to be doing well now because of transformation in the force, policemen should abide by rules and regulations governing their duty.

Man jailed 10 years for defiling girl, 16 Uchenna Inya

ABAKALIKI

n Abakaliki Magistrates’ Court has sentenced a 21-year-old man, Chibueze Okpani, of Oso Edda in Afikpo South Local Government Area of Ebonyi State to 10 years imprisonment for defiling a 16-year-old girl, Ezinne (surname withheld). Okpani was said to have abducted Ezinne on her way to buy recharge cards for her aunty on May 8, 2015 and took her to his friend’s house at Ndiopko village in the area where he raped

her for three days. The girl suffered injuries after the act. A medical examination conducted on her by Dr. M. N. Urom of General Hospital, Oso Edda, showed that the victim had vaginal orifice with copious discharge fol-

lowing the rape. The magistrate, Stella Ogoke, found Okpani guilty of the offence and sentenced him to 10 years imprisonment. Earlier during the trial, Okpani admitted committing the crime and claimed that the victim was his girlfriend. He said: “I met Ezinne at the shop where she came to buy recharge cards. She was crying and I called her to know what happened to her. She told me she was hungry, when I asked her what was wrong with her. “I then told my friend,

Congo, that I need to sleep with this girl. He said he had an empty room for us where I can sleep with the girl. “Congo took us to his room and locked us inside with a padlock. After several rounds of sex, the girl started complaining of hunger seriously. Congo later brought food for her. She is my girlfriend for long now. “Around 2a.m., I was surprised to see the girl’s uncle who came with Congo and opened the door. The man took the girl from me and left.”

NEWS | national

monday, march 28, 2016 NEW TELEGRAPH

Flawed elections, policies: Do the needful, Fayose tells Buhari Sulaiman Salawudeen Ado-Ekiti

kiti State Governor, Ayodele Fayose, has urged President Muhammadu Buhari to administer the country in line with democratic principle, urging him to always ensure that things were done towards the reversal of the ills in the country. The governor also urged the President to stop seeing himself as a sectional leader or that of the All Progressives Congress (APC), but as the leader of all the groups and the people of the country. In a press statement

issued by his Chief Press Secretary, Mr. Idowu Adelusi in Ado-Ekiti, the state capital, at the weekend, Fayose commended the President for admitting some errors of his government. According to him, the President should be wary of some selfish persons in the APC, who were bent on dropping his name to commit atrocities all in the name of politics. His words: "This is a moment of truth. I commend the president for being bold enough to apologise for his lapses. He has come out to admit and accept that criticism is part of democracy. He can do whatever he likes, but it must be within the

ambit of the law. "The President has swallowed his pride by admitting that there is a sharp drop in electricity and that we are experiencing an agonising fuel scarcity in the country. They told us the refineries are working, but that is not true, we are still importing fuel. "The President must not, however, stop at apologising. He cannot continue to apologise over everything, he must step up. A leader must think very well before making policy state-

ments. "He apologised on the dissolution of Governing Councils of federal universities which I had earlier criticised. There are laws establishing these boards and you cannot just wake up one day and say you dissolve them. "I call on the President to do something about the lingering fuel scarcity. Many people now sleep at filling stations. Unfortunately, the Federal Government has told Nigerians not to expect solution soon. The government should end

N1.4trn

The amount for debt service of the 2016 budget approved by the NASS. Source: The Nation

Secretary to the Government of the Federation, Mr. David Babachir (left), presenting a certificate and agricultural equipment to Abdullahi Musa, during the graduation of Buba Industrial Village under its Youth Empowerment Programme, yesterday by Hon. Yusuf Buba, member representing Gombi/ Hong Federal Constituency in Hong L.G.A of Adamawa … yesterday.

the pains without delay and stop chasing perceived political enemies. "The President should also address job losses which have become a daily occurrence. They promised Nigerians jobs but the reverse is the case now. "They should also pay attention to security issues, rather than exerting energy on silencing opposition. Look at the Agatu issue. That place is a food basket for the country and when herds men now go on the rampage destroying lives and

Coalition petitions EFCC over FG agencies' non-remittance of funds Wale Elegbede

coalition, Civil Society Network against Corruption (CSNAC), has urged the Economic and Financial Crimes Commission (EFCC), to immediately commence investigation into an alleged non-remittance of generated revenue by about 600 government agencies. In a petition to the acting Chairman of the antigraft commission, Mr. Ibrahim Magu, the group through its chairman, Mr. Olanrewaju Suraju, said the alleged non-remittance of generated revenue was a great disservice to the nation as well as an economic

Shekau's new video: Major victory against Boko Haram –Group Yekeen Nurudeen Abuja

group, the Coalition for Women Advancement in Africa (COWAA), has described the new video which showed a purported new Boko Haram leader, Abubakar Shekau, urging his followers to surrender to the military as a major victory for the military in the war against insurgency in the North East.

Addressing a press conference in Abuja yesterday, Executive Vice President of the group, Mrs. Jummai Samuel Pukat, said the group has recruited the services of forensic experts to determine the authenticity of the video. She, however, called on the Nigeria army to sustain its onslaught against the remaining terrorists, who may want to continue with their nefarious crimes. "We have authorita-

tively confirmed the video after subjecting it to scientific scrutiny and wish to say it is authentic and represents the reaction of the group to the ongoing merciless onslaught being carried out by the Nigerian Army. As mothers of the nation we are calling on President Muhammadu Buhari to see to an amnesty for those who are ready to lay down their arms and encourage the Nigerian Army to flush out every criminal ele-

ments or factional group that fails to utilize the opportunity of the declaration of surrender by Abubakar Shekau who has been known over the years as the leader of the group. In the same spirit of a new Nigeria devoid of the killings, kidnappings and terrorism that Nigerians were elated to view the video of their longest nightmare in the person of Boko Haram leader, Abubakar Shekau almost grovelling as he declared

that ‘I am finished’. "Even without uttering those welcome words about being finished, which we believe equally applies to the terror group with which he brought this country down to its knees, the body language of the Shekau we saw in the video was that of a man who together with his minion are receiving the drubbing of their lives from the Nigerian Army ably supported by the Air Force," she said

Osun moves to check water-borne diseases Ajimobi to inaugurate UI, LNG Adeolu Adeyemo Osogbo

sun State Government at the weekend said that, it has concluded arrangements to introduce Ceramic Water Filters to stem the incident of water borne-diseases in the state. The Director General, Office of Economic Development and Patnership (OEDP), Dr. Charles Akinola, made this known during an inspection tour

of facilities at the Atamora Ceramic Water Filter Factory at Atamora via Ikire of the state. Akinola said: "Ceramic water filter is a globally acknowledged effective innovative technology that filters dirt and bacteria from impure water and makes portable water available for use and we will introduce it to do this in the state." "Through the project, the state is now leading the way in deploying indigenous technology to

combat the ravaging tide of water-borne diseases, which is known to be the cause of over sixty percent of illnesses and diseases in the sub-Saharan region". He assured that with the level of readiness seen at the factory during the tour and the certification of the effectiveness of the filter, Christened, Amu Osun, by the state’s ministries of health and water resources, the filters will soon be rolled out.

engineering lab Sola Adeyemo Ibadan

yo State Governor, Senator Abiola Ajimobi, will tomorrow inaugurate a newly-constructed multimillion naira solution-driven engineering laboratory complex at the Faculty of Technology, University of Ibadan. According to a statement issued by the university's Director of

properties, we should not fold our arms," he said. Fayose also took a swipe at the manner elections have been conducted under the present regime, saying it had destroyed the legacy of credible elections left behind by former President Goodluck Jonathan. He equally called on Buhari to reduce his foreign trips and address pressing national issues at home, instead of globe-trotting, saying the country must be given adequate supervision.

Public Communication, Mr. Olatunji Oladejo, the project was the first and only automated complex in Nigeria and a product of partnership between the University of Ibadan and the Nigeria Liquefied Natural Gas (NLNG) Limited. The facility was built by the University of Ibadan and equipped by NLNG, on an equal partnership basis of $2million each counterparty funding.

sabotage. The coalition said it took its cue from the February 26, 2016, report of an online Newspaper, The Cable, where it was reported that about 600 government agencies under-remitted generated revenues to the Federal Government. According to the report, the Federal Government over sees nearly 600 agencies, covering a wide spectrum of activities such as central and mortgage banking, insurance, oil and gas, maritime administration and safety, air and sea port management among others. According to the report, the agencies include Nigerian National Petroleum Corporation (NNPC), Nigeria Television Authority (NTA), National Agency for Food, Drug Administration and Control (NAFDAC), Nigeria Ports Authority (NPA), among others. "In a National Assembly Budget and Research Office (NABRO) report, obtained by TheCable, titled ‘Improving revenue collections and remittances by Federal Government agencies,’ it was gathered that the NNPC, which should have remitted N3.02 trillion to the Consolidated Revenue Fund (CRF) between 2007 and 2011, made no payment." The coalition, however, stated that: "Government agencies, besides helping the government to deliver dividends of governance to the citizens, also ought to serve as avenues through which the government ought to generate revenue for its daily activities. "In recent times when the country is experiencing severe economic hardships due to low revenue from crude oil sales and foreign exchange, the billions of revenue generated from various government agencies, if remitted would have gone a long way in cushioning the effects of the economic realities.

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Abia North How INEC, PDP robbed Kalu of victory, by Onwuneme

Politics

Unending supremacy battle Other were between former Governors Chimaraoke Nnamani and Sullivan Chime (Enugu); former Governors Peter Odili and Chibuike Amaechi (Rivers); former Governor Chris Ngige and the Uba brother; former Governors Attahiru Bafarawa and Aliyu Wamakko (Sokoto); former Governors Victor Attah and Godswill Akpabio (Akwa Ibom) among others.

The undue advantage which power confers on its wielders, especially in developing countries like Nigeria, explains why most leaders do not toy with the issue of succession, which has, in turn, led to politics of betrayal and backstabbing, FELIX NWANERI reports

hough democracy grants the people the liberty to choose their leaders through periodic elections, the concept exists mostly on paper as leaders at the various levels of governance have always had hands in the emergence of their successors. While this practice was not prominent in the first and second republics, it has become synonymous with the present dispensation. Consequently, the Fourth Republic, which took off in 1999, with the country’s return to civil rule in 1999, has produced hundreds of political godfathers, who sit in the comfort of their homes to determine who gets what, how and when. In most cases, the beneficiaries of decisions by these “powers that be” have always been their cronies, associates, business partners and even family members. The reason for this is not farfetched. Most public office holders are more disposed to those who will cover their tracks as their successors. But politics, being a game of the possible, the cozy relationship between the godfathers and their anointed ones hardly last. In most cases, these anointed successors hardly settle in office before the “romance turns sour.” Most times, the bubble is burst

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Kwankwaso

Ganduje

Obasanjo

Atiku

when the anointed successors try to do things on their own although there have been instances, where the heirs had tried to destroy their benefactors even when they had tried as much as possible not to interfere in the running of government. The recent political development in Kano State, where former Governor Rabiu Kwankwaso and his longtime political ally and successor, Umar Ganduje, are locked in a supremacy battle has brought to the consciousness of many political observers, similar cases before now as well as indicate that there is no end sight to such battle. Anambra State was the focus before the Kano battle ensued. After months of playing down the frosty relationship between former Governor Peter Obi and his anointed successor, Willie Obiano,

Until a man has power and has money, you don’t really know him

the bubble finally burst when their aides took to the media for a battle of wits. While most analysts expressed shock over the way things quickly fell apart in the two states, given the bond between the personalities involved, some were not disappointed as most Nigerian politicians believe that politics is nothing but the conduct of public affairs for private advantage. Similar battles in the past over this advantage include that involving former President Olusegun Obasanjo and former Vice President Atiku Abubakar; Obasanjo and former Presidents Umaru Yar’adua and Goodluck Jonathan; former Governors Orji Uzor Kalu and Theodore Orji (Abia); and former Governor Ali Modu-Sheriff and Governor Kashim Shettima (Borno),

Kwankwaso vs Ganduje Former Governor Rabiu Kwankwaso (now senator representing Kano Central) and his successor, Umar Ganduje, are not just political allies. Both worked together as a governor and a deputy for eight years and enjoyed a harmonious working relationship that was devoid of rancour. Even when Kwankwaso lost his re-election bid in 2003 after serving a first term and was appointed minister of Defence, he picked Ganduje as one of his aides. When he returned as governor, 2011, he also came back with Ganduje and worked tirelessly to ensure that his long standing deputy succeeded him. But just five months after 2015 elections, a wide crack emerged between the two. The crack came to the fore when on October 21, 2015, the 59th birthday of Kwankwaso. The event has been marked in the last five years as Kwankwasiya Day. Kwankwasiya is the political movement led by the former governor. Instead of members of the group to come together to mark the event as was in the past, proGanduje elements celebrated it at the Government House, while loyalists of Kwankwaso, led by his former Chief of Staff, Alhaji Yunusa Dangwani, held their own at Mambayya House in Kano. Kwankwaso was not in Kano for the event, and it was a clear evidence that the political group on whose crest Kwankwaso and later Ganduje rode to Kano Government House has been split. As usual, the rift was downplayed by both camps even though discerning minds knew that all was not well, especially the way the former decided to stay put in Abuja after handing over to Ganduje, who on assumption office went to town with a tale of huge debt. The Transition Committee he set up had disclosed before the inauguration that Kwankwaso, not only left an empty treasury but an additional liability of N379 billion although Ganduje later came out to defend his former boss, declarCONTINUED ON PAGE 15

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Godfathers vs godsons: Politics CONTINUED FROM PAGE 11

ing that the huge liabilities he inherited was not a crime. His words: “I am part and parcel of the Kwankwaso’s administration and whatever must have happened; we all should take the responsibility. It is correct that we have huge liabilities, but that does not mean that it is a crime, we planned everything together but unfortunately, what we envisaged did not work as the price of oil came down.” This defence, notwithstanding, some analysts had reasoned then that it was a matter of time the Pandora Box is opened. And as predicted, the cold war turned to an open confrontation recently during Kwankwaso’s visit to Ganduje’s hometown with his supporters to condole him on the death of his mother. What should have been a “friendly visit” became sour as the former governor was alleged to have deliberately turned it to a violent rally to cause mayhem in the state. This has earned him the wrath of the leadership of the APC in Kano State. The state chairman of the party, Umar Doguwa, berated Kwankwaso for exhibiting “acts of indiscipline which should not be allowed to go unpunished.” His words: “Very many people visited Governor Ganduje in a peaceful manner but the only unfortunate incident is the one associated with the visit of Kwankwaso, and what specifically made the visit a misdemeanor to our party was the fact that it was rather purely political against the mission of condolence.” But Kwankwaso, in his response, said it is unfortunate that a good gesture was mischievously interpreted wrongly and warned Ganduje to desist from dragging the name of President Muhammadu Buhari to cover for his administration’s “obvious weaknesses.” Both camps have temporarily seized fire following the intervention of their party’s national leadership but there is no doubt that the battle has just started. Obi vs Obiano The disagreement between the immediate past governor of Anambra State, Mr. Peter Obi and his successor, Chief Willie Obiano, reared its head even before the handover of the reins of power on March 17, 2014 but was downplayed by chieftains of their political party – All Progressives Grand Alliance (APGA). Although Obi was responsible for Obiano’s emergence, the latter was not initially in the picture as the former, who earlier promised to handover to a successor from Anambra North Senatorial District that had before then never produced a governor since the creation of the state was more disposed to then Secretary to the State Government (SSG), Mr. Oseloka Obaze. But political horse-trading and arm twisting swung the pendulum to Obiano, who retired from Fidelity Bank as the deputy managing director. Obi served also served as

Obi

Obiano

Kalu

Odili

Amaechi

Nnamani

the chairman of the bank. Besides the Fidelity Bank link, both are old boys of the famous Christ the King College (CKC), Onitsha. So, it was surprising when Obi took the Obiano governorship project as his own. Resources and time were spent to ensure that the banker turned politician defeated formidable opposition candidates in the election. Mission accomplished, an elated Obi, announced during the handover ceremony at the Alex Ekwueme Square in Awka, that he left over N75 billion in cash and investments for his successor, against the normal practice of outgoing government not only emptying the treasuries for their successors but leaving debts running into billions of naira. But shortly after the handover that stories began to make the rounds that Obi did not leave N75 billion as stated in the handover note. In fact, a group from Obiano’s Anambra North, in an advertorial in some national dailies, said that rather than leave assets, Obi left so much liabilities and a large number of uncompleted projects. They also accused him of employing so many people into the civil service. The cold war went on for over a year until the Secretary to the State Government (SSG), Prof. Solo Chukwulobelu, spoke officially on the N75 billion left by the former governor. “The N75 billion was not there; it was not handed over to anybody. At best it can be half-truth. Instead, the state gov-

Orji was hiding his true colours from me. Everybody warned me because what they were seeing, I wasn’t seeing

ernment inherited a total contract sum of N185.1 billion as liability from the Obi administration. In the real sense, what the Obiano administration inherited from Obi was N9 billion cash and N26 billion near cash,” he said. He said the explanation became pertinent because of the ground the rumour of the N75 billion was gaining, both in the social and traditional media, adding that it took the state government tat long to reply to the claim in order to put the rumour finally to rest and urged the public to discountenance the claim because it does not exist. Obi in a swift reaction, faulted the state government’s figures, describing it as a deliberate attempt to misrepresent facts. He insisted that he left over N75 billion in cash and investment, adding that the breakdown shows that N27 billion was in local currency investment; N26. 5 billion in foreign currency investment and N28.1 billion in Certified State/ MDS balances. Efforts by some highly placed citizens of the state to settle the rift failed to yield the desired result and it has been media war and name calling since then even as Obi has moved on politically with his defection to the PDP. Obasanjo vs Atiku The supremacy battle between the former and president and his vice, midway into their second term in office, no doubt, remains the bitterest so far in the present political dispensation.

Atiku was elected governor of Adamawa State in 1998, but while still governor-elect, he was picked by Obasanjo as running mate after he emerged the presidential candidate of the Peoples Democratic Party (PDP). They won the presidential election in February 1999, and were sworn-in as Nigeria's second democratically elected president and vice president, respectively, on 29 May 1999. Both had a blissful political relationship but the romance turned sour after their re-lection for a second term in 2003 although Atiku turned down a plot to upstage Obasanjo ahead of the poll. Governors elected on the platform of the PDP, had in the buildup to the poll wanted Atiku to contest the party’s presidential primaries against Obasanjo but he declined. Though Atiku opted for a joint ticket with his principal, Obasanjo never forgave those who muted the idea. They battle got messier after Atiku mobilised the leadership of the National Assembly and stopped Obasanjo’s bid to amend some provisions of the constitution in order to take another shot at the presidency for the third consecutive time. Obasanjo’s insistence that Atiku would not succeed him forced the former vice president to leave the PDP in 2006 for the defunct Action Congress (AC), which handed him its presidential ticket. Atiku then said of his decision to quit: “I had to leave because I

POLITICS

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

of betrayal, backstabbing

Orji

Yar'Adua

Jonathan

Chime

Sheriff

Shettima

was pushed to the limit. A scheme was introduced, by which I and my supporters were removed from the party under the guise of reregistration. Of course, the bigger scheme was to ensure that I did not succeed my boss (Obasanjo). They had me suspended from the party, even beyond the length of time permitted by the PDP constitution. The party rejected and flouted all courts orders in respect of my rights as a party member.” Despite securing the AC’s ticket, a power play that ensued led the Independent National Electoral Commission (INEC) to omit his name from the final list of 24 candidates for the presidential election it released on March 15, 2007. The electoral umpire cited Atiku’s indictment for corruption as the reason for the omission. But in a unanimous decision, the Supreme Court ruled that the commission had no power to disqualify any candidate for an election, and he contested the poll, but came a distant third with 2.6 million votes (seven per cent of the total votes cast) behind the PDP candidate, late Yar'Adua and Muhammadu Buhari (now president), who contested on the platform of the then All Nigeria Peoples Party (ANPP). Atiku rejected the result and called for its cancellation, describing it as Nigeria's “worst election ever.” He however returned to the PDP in 2009, though his coming back was initially resisted by his state chapter of the party, acting an alleged script by Obasanjo. He was later granted a waiver

by the party’s national leadership. This paved the way for him to contest the 2011 presidency. On November 22, 2010, the Northern Elders Political Leaders Forum (NPEF) led by former Minister of Finance, Mallam Adamu Ciroma, selected him as the region’s consensus candidate over former Military President, General Ibrahim Babangida, former National Security Adviser Aliyu Gusau and former Kwara State governor, Bukola Saraki (now president of the Senate). The Turaki Adawama as Atiku is popularly known was however floored at PDP presidential primaries by then Acting President Goodluck Jonathan who later went ahead to win the election. Again, the power play in the build-up to 2015 presidential election, which he showed interest on, forced the former vice president out of the PDP although Obasanjo was not involved this time. Obasanjo vs Yar’adua While Yar’adua never showed interest in the 2007 presidency until he was drafted into the race by Obasanjo, the Katsina-born politician and former governor showed his benefactor that he could run his own show immediately he assumed power. Many had then accused Obasanjo of imposing Yar’adua on the PDP because he wanted to install a weak president that he could manipulate and control since his plot to perpetuate himself in power failed, but the godfa-

It is just that Yar’adua has not got enough proof to send him (Obasanjo) to prison

ther and his godson fell out barely six months after. Yar’adua not only reversed some of Obasanjo’s policies like the sale of two of the country’s refineries, but went after the latter’s loyalists like then chairman of Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu and Mallam Nasri el-Rufai, who was Minister of the Federal Capital Territory in the Obasanjo government. Ribadu was removed as EFCC chairman, demoted to the rank of Deputy Commissioner of Police from Assistant Inspector General and eventually dismissed from the force, while el-Rufai, who went on exile, said at the time that Yar’adua was desperately looking for reasons to send Obansanjo to prison. “It is just that Yar’adua has not got enough proof to send him (Obasanjo) to prison. What do you think the power probe was all about? They want to get him. I know Yar’adua very well. He is vicious and unforgiving,” he said. The power play explain why Obasanjo became the first critic of the Yar’adua government and the antagonism between the two continued until Yar’Adua died in 2010. In Obasanjo’s book, “My Watch,” he bitterly attacked and vilified Yar’Adua, calling him an ingrate among other uncomplimentary names. Obasanjo vs Jonathan After Yar’Adua’s death, Obasanjo moved in quickly to see

that Jonathan who was the vice president succeeded him despite fierce opposition by some northern political leaders. With that done, Obasanjo was happy that another of his anointed was in control. Jonathan, who, in the first place became vice president on Obasanjo’s prompting, was always consulting the former president in almost everything he did. But the bubble burst when he started doing things without first consulting his benefactor. When the whistle for the 2011 elections was sounded, Obasanjo initially refused to back Jonathan until the latter yielded grounds. According to Ijaw leader and Jonathan’s administration major supporter, Chief Edwin Clerk, almost all the members of the various Federal Boards from 2011 were nominated by Obasanjo, in addition to ministers and ambassadors. The bond collapsed when Jonathan successfully warded Obasanjo off the Presidential Villa and the PDP. Consequently, the Ogun Stateborn general and former military head of state began throwing verbal missiles on Jonathan including writing toxic letters. In an 18-page letter dated December 2, 2013 and titled: “Before it is too late,” Obasanjo accused Jonathan of taking actions detrimental to the unity and progress of the country. He accused Jonathan of training a killer squad, encouraging corruption and pursuing an inordinate ambition, among others. Jonathan, in his response, chided Obasanjo for his un-statesman conduct. What followed was the latter’s return to the trenches from where he aligned with the opposition forces in the 2015 general elections to halt Jonathan’s second term as well as PDP 16-year rule. Kalu vs Orji In the case of former Governor Orji Uzor Kalu and his former Chief of Staff and successor, Theodore Orji, it was betrayal because the former single-handedly saw to the emergence of the latter as governor of Abia State in 2007. Orji won the gubernatorial primaries of the Progressive Peoples Alliance (PPA), a party founded and funded by Kalu, to contest the governorship election and resoundingly defeated his closest rival by over 200,000 votes. He also made history as the first to win governorship election while in detention. He later turned against his benefactor, Kalu, when he was cautioned against the excesses of his government barely 18 months into his first term. Orji dumped the PPA, the platform on which he came on board, and had a brief stopover in APGA before finally berthing at the PDP. The power game led to the impeachment of the deputy governor, Chief Chris Akomas, who was loyal to Kalu, by the state House of Assembly. Shortly after that some commissioners, other political aides and Kalu’s men, who refused to crossover to Orji’s camp were CONTINUED ON PAGE 14

POLITICS

Ngige

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Uba

Wamakko

Bafarawa

Unending supremacy battle also eased out of government. Kalu, who later expressed regret over the role he played in the emergence of Orji as his successor, denied attempting to play godfather to his successor, insisting that his only grouse was that Orji was not doing enough for the people. He said: “Orji was hiding his true colours from me. Everybody warned me because what they were seeing, I wasn’t seeing. He was one aide I had, who never ate on the same table with me for eight years. Something was wrong. All my commissioners, all my special advisers, all the people I worked with, the Speaker of the House, members of the House of Assembly, all of them ate at my table.”

The Ebeano group began to crack and the new man in power (Chime) started alienating members of the group that ensured his emergence as governor. He also went on to court politicians who had problems with Nnamani, including a former governor of old Anambra State, Chief Jim Nwobodo, who was instrumental to Nnamani’s rise to power but got what he did not bargained for from his political godson. The battle explained Nnamani’s failed bid to return to the Senate as Enugu East Senatorial District representative in 2011. He was defeated by Prince Gilbert Nnaji, who was then in the House of Representatives. Nnamani contested the poll on the platform of the People for Democratic Change (PDC), having quit the PDP.

Nnamani vs Chime There is no doubt that Sullivan Chime’s emergence as governor of Enugu State in 2007 was facilitated by the Chimaroke Nnamaniled Ebeano political family. Nnamani, who was governor between 1999 and 2007, appointed Chime, first as his legal adviser between 1999 and 2002 before elevating him to the position of commissioner for Justice and Attorney General in 2002 and he served in that capacity till the administration ended in 2007. Despite Chime’s close relationship with Nnamani while in office, the former’s emergence as his successor came as surprise to many. Reason: He was not among top functionaries of the administration who showed interested in succeeding their principal. Those touted as likely successors at the time included the likes of then deputy governor, Chief Okey Itanyi, Secretary to the State Government (SSG), Dr. Dan Shere, former Minister of Information, Mr. Frank Nweke Jr. and deputy Senate President, Ike Ekweremadu. But Nnamani surprisingly backed Chime because he did not show desperation for the job and also got the PDP leadership in the state to buy into the project. But no sooner had the latter won the election and was inaugurated that friends became enemies.

Sheriff vs Shettima Another interesting battle between a godfather and his anointed is that between former Governor of Borno State, Senator Ali Modu Sheriff and his successor, Kashim Shettima. Sheriff, who is presently the National Chairman of the PDP, called the shots in the north-eastern state before he was run out of town after his failed bid to control Shettima. Sheriff hold of the state did not start with the emergence of Shettima. In 1999, he supported Alhaji Mala Kachallah, his father’s friend, to become governor of the state while he went to the Senate. But from Abuja, he called the shots in the state. Along the line, he parted ways with Kachallah, who made a political blunder by leaving the then ruling party in the state – All Peoples Party (APP) for the Alliance for Democracy (AD). The move cost him a second term as he was roundly defeated by Sheriff in the 2003 elections. But after serving eight years, Sheriff disagreed with his father, Galadima Modu Sheriff, over the choice of his successor. While the older Sheriff wanted another son of his, Mala to succeed his brother, Senator Sheriff opted for Shettima, his then commissioner for Health. The disagreement between father and son forced them to settle for Alhaji

CONTINUED FROM PAGE 13

The cozy relationship between the godfathers and their anointed ones hardly last

Fannami Gubio as a compromise. Unfortunately, Gubio, a cousin to Sheriff was assassinated few months to the 2011 elections and Shettima was named as the party’s governorship candidate in the state. He won the election but Sheriff failed in his bid to return to the Senate. While Shettima accorded his boss and benefactor his due privileges, Sheriff wanted to still be the man in charge. With time, a crack appeared but both camps played it down. But it did not take time for the crack became evident. Sheriff withdrew his support for Shettima, dumped the All Progressives Congress (APC), which he helped formed for the PDP to stop the latter’s second term bid. Shettima, on his part aligned with the masses, who had always viewed Sheriff as an emperor. The decision paid off as he won a second term during the 2015 elections, which marked the beginning of a dwindling political fortune for Sheriff until his recent emergence as the PDP National Chairman. Odili vs Amaechi There is no doubt that the immediate past governor of Rivers State and presently, Minister of Transport, Chibuike Amaechi was former Governor Peter Odili’s protégé. Odili contributed to Amaechi’s emergence as member of the state House of Assembly in 1999 and subsequently speaker for eight years. But they fell out after the former’s choice of the latter as his successor in 2007 was stopped by Obasanjo with his famous “Kleg” theory even after Amaechi’s name had been forwarded to INEC as PDP’s governorship candidate for Rivers State. Though Amaechi later got the governorship position through the court from Celestine Omehia, who was used to substitute him, it was never the same again between him and his former boss. Odili had to practically relocate to Abuja and avoided the state he once held sway. He accused Amaechi of vendetta over the Justice Kayode Eso Truth and Reconciliation Panel, which indicted him of the

violence that engulfed the state between 1999 and 2007. After four years, both men decided to bury the hatchet following their reconciliation on May 29, 2011 but that was to be temporary as they returned to trenches ahead of the 2015 elections with Odili publicly declaring that he regretted working for Amaechi to emerge governor of the state. He said: “We thought we did the right thing by supporting Amaechi to become the governor of the state. We left a united state, we also left a united party, PDP was one. Rivers State is PDP. There was no other party in Rivers State, whatever the party hierarchy said would happen, that was what happened. “With all the best intentions, we supported Amaechi’s political career and ambition. We thought we did what was best for the state. As you know, until a man has power and has money, you don’t really know him, but that is a story for the future. One thing is clear, we have accepted our mistake and we are determined to correct it in 2015.” The Amaechi/Odili brawl, many say is a repeat of the raging supremacy battle raging at the moment between the Transport Minister and his once political ally and incumbent governor of the oil-rich state, Nyesom Wike. Ngige vs the Ubas Senator Chris Ngige, who is now M inister of Labour and Employment, was governor of Anambra State between 2003 and 2006. He was assisted to power by the selfacclaimed godfather of Anambra politics, Chief Chris Uba, who at the time boasted that he singlehandedly saw to the emergence all elected political office holders from the state on the platform of the PDP. Uba’s insistence on nominating all commissioners who will serve under Ngige led to a fight and even to the abduction of a sitting a governor as well as razing of some public buildings in the state by supporters of the godfather. But at the end, Ngige endeared himself to the people for daring to confront political godfathers, who had hitherto held the state to ransom prior to his coming to power.

POLITICS \ MONDAY INTERVIEW

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Abia North: How INEC, PDP robbed Kalu of victory, says Onwuneme Engr. Nwabueze Onwuneme, is the Director-General of the Buhari South-East Youth Movement (BSEYM). He speaks in this interview on the Muhammadu Buhari government, war against corruption and other national issues. Excerpts What is your aim of venturing into politics and what is Buhari SouthEast Youth Movement (BSEYM), which you lead, out to achieve? Quoting Plato, the penalty for refusing to participate in politics is that you end up been governed by your inferiors. It's obvious the damage that has been done to our nation by inept and corrupt leadership over the years, especially by the Peoples Democratic Party (PDP).That is why our group, the Buhari South-East Youth Movement (BSEYM) is advocating for increased participation of both the youths and women of the SouthEast geo-political zone in politics most especially in promoting the good works, plans and vision of the President Muhammadu Buhari led federal government and also the All Progressives Congress (APC) as a party.

takeover of the other south-eastern states by 2019, which is one of the cardinal objectives of the Buhari South-East Youth Movement. But why is that in most elections held in the 2015 general elections and even in some re-runs in 2016, PDP still won majority of the seats in the South-East? We have a President, who you know believes so much in separation of powers and does not like the past practice of interference in the workings of the Independent National Electoral Commission (INEC), the judiciary or any other arm of government. At least, Governor Nyesom Wike of Rivers State testified to this the other day that President Buhari did not interfere in the Rivers re-run elections. There's no disputing the fact that INEC has made tremendous improvements but when you have card carrying members of the PDP as INEC state commissioners, they will as usual do the bidding of their party. Tell me who in Anambra State is more popular than Senator Chris Ngige in Anambra politics but you can see how he was rigged out in the last election. Also former Governor Orji Uzor Kalu, though not a member of the APC but a two-term governor of his state, a benefactor to almost all known politicians in the state today, a man so loved

What has been the driving factor behind the seeming success of BSEYM? Most importantly is the fact that our foundation is built on God and you know what happens when God leads you. Also the personality, programmes and anti-corruption nature of President Buhari has been our main selling point, not to leave out the the dynamic and resourceful nature of my colleagues, state co-ordinators and the teeming youths and women of the South-East, who despitethreats and challenges have now really keyed into the vision of the movement by truly identifying those who have retarded our socio-economic growth as a zone in the past. Even with the emergence of President Buhari at the centre, it seems the South-East has remained a strong PDP zone? Thatâ&#x20AC;&#x2122;s not true as the APC is daily making inroad in the zone and you can see lots of people daily declaring for the APC. When I say people, I mean the grassroots who truly are the custodians of political power and the APC, being a party of the commoners, derives more joy in welcoming such people because in them lies our strength. Also, the good works been done by Governor Rochas Okorocha of Imo State, the lone APC governor in the zone says volume of an imminent

Onwuneme

They will do anything possible to frustrate his change agenda because they do not believe in it ab initio

by his people most especially the people of his senatorial zone losing a senatorial election. All these and more poses a great danger to our democracy, and since this appointees of the PDP and most especially of the last administration cannot toe the line of honour to resign their positions, we call on President Buhari to excise his presidential powers and remove them if not, they will do anything possible to frustrate his change agenda because they do not believe in it ab initio. Some people say the President is not doing much to alleviate the economic downturn been experienced in the country citing rise in inflation, lingering fuel crisis and recent clashes between herdsmen and farmers in some parts of the country. Sincerely speaking, if not for God, who in his wisdom brought President Buhari at this time, I cannot imagine what our economy would have been by now. We all saw how our foreign reserve was plundered for someone to just win an election and our soldiers were left to die by fighting with obsolete military equipment. Now, the price of crude oil, which is the mainstay of our economy, has dropped to an all-time low of $30 per barrel. President Buhari did not promise magic but change which he is pursuing with all vigour and sincerity and thank God, his recent trips outside the country to consult with the member nations of the Organisation of Petroleum Exporting Countries (OPEC) is already yielding result as we are seeing a reduction in production in other to boost prices. Also his policy on the diversification of the economy is yielding results, most especially in agriculture and solid minerals exploration. So, I call on Nigerians to be patient during this building session as sooner than later, the dividends will all be there for all to enjoy and not for a few as was in the past. On the fuel scarcity been experienced presently, I know the President and the Minister of State for Petroleum are working round the clock to address it and at the same time sanitise the Nigerian National Petroleum Corporation (NNPC). Remember that it was his time under General Olusegun Obasanjo that two refineries were built and Nigeria then was even exporting refined products. At least, they have almost brought to end, the era of fictitious subsidy claims. Let us also use this medium to suggest to the President on the setting up of an economic team and also the appointment of a chief economic adviser to drive the economic policies of the government. On the issue of security of lives and property, I must commend President Buhari and the gallant men of the armed forces for really decimating the Boko-Haram sect and winning the war on insurgency. Prior to President Buhariâ&#x20AC;&#x2122;s emergence, it was almost a daily

occurrence with the insurgents even occupying some local government areas in the North-East. The President has also condemned in its totality, the activities of herdsmen and directed the security agencies to deal decisively with anyone involved while issues of graving reserves is on the front burner to curb future occurrences. Do you think President Buhari is winning the war on corruption? Yes! The political will is there no doubt but to an extent the laws of the country and some unscrupulous members of the judiciary are trying so hard to rubbish it. We are hereby call on the executive and legislature to review some of our anti-corruption laws and make them more stringent so that the least corruption penalty will carry a minimum of 20 years in jail. A situation where we have fraudsters being jailed for up to 40 years and those who have impoverished the Nigerian people getting very light sentences does not speak well of the system. Also, the Chief Justice of Nigeria and National Judicial Council should as a matter of urgent public importance, punish judges who grant frivolous interlocutory injunctions with the intent to drag corruption cases as the saying goes: Justice delayed is justice denied. What is your take on the pro-Biafra agitations and the chances of an Igbo man emerging President of Nigeria in the near future? Some of the issues being raised by some pro-Biafra agitators are genuine like the collapse of infrastructure and socio-econmic activities in the zone under successive PDP governments. So, we appeal to President Buhari not to just look into it but also address it and we believe he will. Looking at the dynamics of Nigerian politics, the Igbo presidency project is more realisable under President Buhari and the APC and that is why we are supporting the President and the party. Look at it this way if former President Jonathan had come back, he would have stayed in office till 2019 and power most likely will go to the North after that because in all sense of honesty, they were almost denied their chance and whoever emerges would probably have stayed till 2027. But with President Buhari, the APC and the zoning formula, the north would finish their term by 2023 and I believe the South-East will then stand a better chance of coming to power. This to me would probably put the issue of Biafra to rest. My advice to Ndigbo is for us to toe this line and it will get to us because secession is what no sitting president would want to accede to not to even talk about President Buhari, who personally fought for the unity of Nigeria and even now as president swore to an oath to protect the territorial integrity of the nation.

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Opinion Buratai’s tears for a saboteur Dominik Umosen

t is not every day that a general sheds tears. And it is certainly not every day that a real general weeps for a saboteur who is normally not welcomed in any community. Only the kind of misgivings experienced by Ogonis since vicious oil exploitation began in the country, including disappointment from reconstruction in insurgency-ravaged North-East while mediation of massive oil degradation in the area awaits implementation, could trigger the unthinkable in a general. Frosty relations between producing communities and security agents acting on behalf of oil companies further kill feelings of patriotism because the impression given is that the Federal Government does not care. And this feeling has, unfortunately, been reinforced by the levity with which the UNEP report is treated. This disappointment unravels the mystery surrounding the killing of a saboteur; an army informant whose gruesome killing, supposedly by a vigilante group, enraged soldiers, culminating in the killing of about 20 people which is sparking international outrage. According to the Chief of Army Staff (COAS), Lieutenant-General Buratai, the snitch was buried alive to underscore the contempt which is reserved for saboteurs. Buratai’s justification of the reprisal killings with that of the saboteur is appropriate from the security perspective. But collaboration with a so-called oppressor, according to the people who flaunt their ordeal in the hands of security agents on behalf of oil companies, including the judicial murder of renowned rights activist and playwright, Ken Saro-Wiwa, renders any rebuke justifiable.

The COAS is aware of legitimate reasons why the Ogoni consider themselves unfairly treated by the state. Besides the dust-gathering UNEP report, the army resisted trial at the International Criminal Court (ICC), of an officer who boasted having perfected over 300 methods of killing ordinary protesters. This antecedence apparently explains zero-tolerance for saboteurs in Ogoni. Instead of condemnation and trial for crimes against humanity, the officer was encouraged through the ranks and eventually provided a soft-landing with retirement after many tears of murderous service to the fatherland. The COAS’s profuse tears for a voluntary saboteur notwithstanding, Buratai’s justification of the reprisal action as necessary to avenge the snitch’s killing refocuses attention on the ancient debate regarding why beneficiaries from nationalistic activities of a patriot consider him a freedom fighter, instead of a terrorist. The COAS is aware that while he was in the trenches, drawing international attention to the atrocities committed by the former apartheid regime in South Africa, the greatest black man ever, Nelson Mandela was considered a terrorist by that discredited regime. But to the millions of blacks terrorized and disillusioned by institutionalized injustice and lack of a better future, the Madiba was eulogized as freedom fighter. Obviously, juxtaposing these historical developments and their locations can facilitate easy understanding of this metaphor of tears. For example, because the Ogonis consider themselves at the wrong end of state-inspired high-handedness, including seeking justice in foreign courts rather than locally where it was considered far-fetched or impossible, life as a saboteur evolved into an unenviable status in the community. Instead of fresh reprisal actions which

The COAS is aware of legitimate reasons why the Ogoni consider themselves unfairly treated

never differentiate between those guilty and the innocent, the COAS should review why it became the responsibility of soldiers to act as enforcers for oil companies which demonstrate scant regard for the environment as vindicated in the UNWP report. Upon inducement, soldiers often ransacked oil producing communities, destroying everything in sight. Of course, this pit bull complex ruined any possibility of cooperation between them. Without the revealing UNEP report, prospecting for oil without any consideration for the environment, which generations of Ogonis have decried, might have persisted, business as usual. Very little or no attention would have been spared for the tear-jerking environmental devastation which has ruined traditional occupations like fishing and farming. But rather than treat the grievances of such communities on their merit, security agents who always felt obliged to humour the erring IOCs, usually wielded the big stick, as if confrontation solved every challenge. And over time, this highhandedness and refusal to acknowledge huge environmental crimes committed by oil producing companies, reinforced suspicion and cast the state in the unfortunate mould of an irresponsible partner. Given prevailing sensibilities in oil producing communities following the non-implementation of the UNEP report, there is no reason to envy other saboteurs who will fare no better than the hapless folk on whose behalf Buratai shed tears. Before the COAS inadvertently wins indictment for the country at the ICC with more crackdowns because public contempt for saboteurs is not likely to change, the government should explain when it became the responsibility of the UN to defend the rights of Nigerians against environmental crimes by oil companies, instead of government whose capacity and willingness to do so has been undermined by corruption. • Umosen (dominik.umosen@gmail.com) wrote in from Lagos.

Kalu as political bride in Igboland Onuoha Obinna

hen duty calls, as a patriotic citizen, you have no option than to sacrifice your resources for a just cause. I would believe that was the spirit that encouraged a renowned name in the business world in the person of Dr. Orji Kalu to consider venturing into politics. He made a mark in the business world through his company (now a conglomerate, SLOK Group), a corporation that has evolved to become one of the leading business entities in Nigeria.

The conviction of the Forbes billionaire materialized in 1992 when he was elected to serve as a member of the Federal House of Representatives, holding two key positions of deputy Chair of the Finance and Internal Affairs committees. Having moved the famous dual citizenship bill, OUK, as he is fondly called by his political admirers and fans, became a reference point in national politics. These antecedents in politics and business that earned him overwhelming victory at the governorship poll in Abia State in 1999 under the Peoples Demoractic Party (PDP), a political party he co-founded and financed with a few others. After an excellent performance in his first term in office (he was christened “Action Governor” six months into his first tenure by the

then President Olusegun Obasanjo in 1999) the people of Abia State came out en masse again in 2003 to re-elect Kalu to steer the affairs of God’s Own State. Kalu’s years as governor gave him the opportunity to prove to the world that even though he was relatively young, he was able to perform beyond expectations through commitment, zeal and passion. His administration built over 300 roads in both urban and rural areas, renovated 820 schools, ensured prompt payment of workers’ salaries and pensions, initiated and executed free medical and education schemes among others. Having successfully completed his second tenure in office despite facing political challenges orchestrated by the then President Obasanjo (as Kalu, Bola Tinubu, Atiku Abubakar and others vehemently resisted the third term agenda) thus costing Kalu a major setback in business as Obasanjo clamped down on his companies including Slok Airline, Southgate bank, Slok Trading etc), in 2007 he decided to throw his hat into the presidential ring under a newly registered and self-financed political party (founded by Kalu in 2006), the Progressive People’s Alliance (PPA). Although he did not win the race, it was a good national exposure for Kalu and the contest gave him the privilege of touring and building connection with the people across the 36 states of the Federation. However, Kalu’s clout in the South East was not in doubt as he sponsored the governorship candidates in Imo and Abia States, Ikedi Ohakim and Theodore Orj respectively under the PPA in the

same year he ran for Presidency. As we witness on a daily basis, in the field of politics, betrayal is not a new phenomenon, the once rosy time between the two governors (duo of Ohakim and Orji) and their political godfather (Kalu) turned sour due to irreconcilable differences. Nevertheless, Kalu remained focused and sustained his relationship with the people at the grassroots. In 2011, stakeholders in Abia North Senatorial region (comprising Bende, Arochukwu, Ohafia, Isuikwuato and Umunneochi LGs) persuaded Kalu to vie for a Senate seat in the red chamber, which he obliged on the platform of the PPA. Despite being at loggerheads with the Governor of his home state, Chief T.A Orji (Kalu’s chief of staff for eight years), Kalu who many regard as a master strategist, had again built a large army of cult-like followers in Abia State. This development gave Abia State government officials’ sleepless nights as they were not comfortable with Kalu’s unending influence over the electorate. Having exhausted all other means, with the support of former First Lady Dame Patience Jonathan, a directive was given to the then Chief of Army Staff General Azubuike Ihejirika (an indigene of Isuikwuato LG) to place the PPA candidate under house arrest without committing any offence (what a sad precedent in a democratic set-up). This uncivilized act affected the morale of PPA supporters, giving the Peoples Democratic Party (PDP) and its agents the grace to manipulate the election in their favour. Against all the atrocities perpetrated by the PDP in 2011, Kalu’s goodwill

again earned him overwhelming votes at the Senate poll in 2015. Like in 2011, the result was again falsified using the State government machinery in favour of Mao Ohuabubwa of the PDP. As a firm believer in the judiciary, the PPA candidate approached the tribunal and eventually the Court of Appeal sitting in Owerri declared the 2015 Abia North Senatorial election null and void and ordered for a rerun poll. The verdict of the court was welcomed with jubilation by the indigenes and residents of Abia North. As directed by the court of law, March 5 was fixed by the Independent National Electoral Commission (INEC) for a rerun poll with the hope of having a free, fair and credible election. On election day, voters came out to cast their votes for their preferred candidates but as usual the PDP agents were at it again, the state government under the leadership of Governor Okezie Ikpeazu with the support of former Governor Orji (now Senator, Abia Central), Commissioners, Special Advisers and Local Government Transition Chairmen in Abia State to cause violence and rig election. Amidst all wrong doings, the electorate did not relent in their efforts in mobilizing support and casting their legitimate votes for Kalu. Declaring the election inconclusive at 7am on Sunday March 6, 2016 the returning officer had Dr. Ojike Nwankwo cited electoral fraud in some polling units in Wards 2 and 3 in Arochukwu LG (home base of the PDP candidate, Mao Ohunabuwa). • Obinna wrote in from Aba, Abia State

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

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the fatalities have been exaggertions like primary and post primary schools, health and worship ated, he however, failed to furnish centres as well as police station in Nigerians with reliable figure, the area were incinerated in the even as the police authorities and attacks. their sister security agencies seem Some of the villages have helpless about the situation. become ghost towns and their Like the federal lawmakers farmlands abandoned. So graphic who strongly condemned the and horrific are some pictures recent killing, we call on the emanating from the areas that government to deal decisively one wonders whether indeed with these acts of share criminalthere are security agencies in the ity which have the propensity of land. snowballing into full scale war. It Former Senate President, is deceptive to imagine that in the David Mark, who visited the face of these continued killings, area, recently prominent expressed shock leaders of at the extent Agatu would of destrucfold their arms The time to treat tion in Agatu, and watch the these issues with describing it decimation of as “unbelievlevity and sentiments their people able, unimagiand destrucis over nable genocide” tion of their against his people. In his words, “nothing whatsoever justifies this brazen act of destruction meted out on the people of Agatu.” Interestingly, these murderous activities of Fulani herdsmen have been observable in many parts of the country, as they destroy farmlands and plantations in the course of grazing on indigent farmers’ lands. In some cases, they even attack land owners for daring to protest against wanton destruction of their farmlands. In rare cases, the herdsmen, are armed with AK-47 rifles have kidnapped elderly notable Nigerians after destroying their farm. Though the Inspector-General of Police, Solomon Arase, has said

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Arresting the sheer criminality in Agatu

he continued decimation of Agatu, a people spread across Benue and Nasarawa states, by Fulani herdsmen, is one sore point in the annals of the nation’s contemporary security history. Government’s failure to address the issue which commenced four years ago in Nasarawa with killing, raping of women and desolation of homes and villages recently fuelled its escalation into a full blown war, spreading even into Benue. In the recent past, former Benue State governor, Gabriel Suswan, at a meeting with Governor Tanko Al-Makura, had remonstrated that the herdsmen, whom he described as trained and armed to carry out these systematic attacks, were harboured in Nasarawa. A report from security agents added that the herdsmen even wear a unique red beret for identification as a militia. Owing to past government’s inertia over the matter, the crass criminality by these herdsmen has continued unabated, especially in Agatu Local Government in Benue State, which is now a theatre of war. At the last count, no fewer than 10 communities have been razed and about 500 lives, including a medical doctor lost to the recent hostilities, allegedly caused by the rustling of thousands of cattle. Once vibrant Agatu communities like Aila, Akwu, Adagbo, Okokolo, Ugboju, Odugbeho, Ogbaulu, Egba and Obagaji are now debris of the wreckage, even as government and private institu-

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lands. Interestingly, the Interim National Secretary of Gan Allah Fulani Association, Saleh Bayeri, has described the Agatu people as aggressors shedding crocodile tears. To him, the bloody conflict in Benue was a reprisal attack by his people against the Agatus, who he accused of killing, in 2013, a prominent Fulani man. Another angle to the killings and destruction of communities was borne out of the rustling of thousands of cattle. While cattle rustling against which the government has deployed a battalion of soldiers in recent times is unacceptable, government must come to terms with reality that the attacks

on cattle are reprisals for the destruction of farmlands by the herdsmen. Equally disturbing is the fact that these common herdsmen are incapable of obtaining licensed riffles like AK-47. This is an indication that these restricted weapons are procured for them by prominent cattle dealers who also trained these employed herdsmen in contemporary weapon handling methods. The sophistry of these ragtag herdsmen in weapon handling and brazen disregard for lives is of serious concern because weapons are never handed to untrained hands and minds. The time to treat these issues with levity and sentiments is over. As a nation currently grappling with the insurgency occasioned by Boko Haram, any attempt to treat the current criminal activities with kid gloves would further portray us as a barbaric people or a country which places no premium on lives. More than ever before, the rampaging herdsmen should be called to order, arrested and made to face the full weight of the law, even as they must be provided with ranches and grazing reserves to prevent the unacceptable carnage and destruction of communities, which has dangerous prospects on the nation’s food security. Governments at all levels should stop this conspiracy of silence and inaction, but put security agencies on their toes and stop playing politics with the lives of citizens.

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Interview

Law

Ozekhome: Why NJC must bring corrupt judges to book

Jurist Okobi: My Sociology, Psychology background gave me edge at NIC

Badeh

Metuh

Disquiet over stringent bail TUNDE OYESINA writes that the judges’ discretionary powers to allow an accused person home on bail has become a subject of controversy in view of difficulties being encountered before those accused of crimes can fulfill conditions attached to bail

or about four hours at the weekend, lawyers could not agree on the exact purpose of bail as guaranteed under Section 35 of the Constitution. They argued that while the nation’s extant law provides that bail is a constitutional right as everyone is entitled to personal liberty, the need for judges to exercise their powers judiciously should not conflict with the provisions prescribe by the Constitution. They reasoned that if bail is a right recognized by the Constitution, why is the nation’s court making it difficult to fulfill as being recorded in some of the ongoing corruption cases? Has bail become the bait in the fight against corruption when accused persons are still presumed innocent until proven guilty? What happens to right to fair hearing as enshrined under Section 36 of the Constitution if an accused person is denied bail

FOLUSO OGUNMODEDE JUDICIARY Editor

foluso.ogunmodede@ newtelegraphonline.com

through stringent conditions? This is the scenario in court as some accused persons in the ongoing war against graft are still cooling off in detention days after their bail application had been granted. Reason: They remain in detention because the conditions attached to their bail are too stringent to fulfill. For instance, the immediate past National Security Adviser, Col. Sambo Dasuki who is standing trial over his alleged role in the $2.1billion arms deals is still in custody despite being granted bail by three High Courts of coordinate jurisdiction. The latest being the immediate past Chief of Defense Staff, Alex Badeh who was accused of diverting $3.4billion to personal use, was admitted to bail by Justice Okon Abang of the Abuja Federal High Court on March 10. Today, he is still in prison as the conditions attached to his bail by the court were too stringent to fulfill. Badeh, according to Justice Abang must fulfill a bond of N1 billion. Even though Justice Abang maintained that granting or refusing bail of an applicant is the discretion of the court he said the charges against Badeh were bailable especially as the former army chief remains innocent until

Every person shall be entitled to his personal liberty and no person shall be deprived of such liberty

proven otherwise. Yet Badeh could not meet up with other stringent provisions of two sureties to make available N1 billion each before he leaves the prison on bail. Also, his sureties must be owners of landed property in Abuja with certificates of occupancy which must be certified by the Chief Registrar of the court. Abang also ordered the EFCC to independently ascertain the residence of the sureties’ residence and genuiness of their certificates of occupancy, the market value of the property and to ensure a tax clearance of three years from the sureties. The sureties, according to the judge should also deposit two recent passport photographs, an affidavit of means which must be verified by the EFCC within 24 hours of presentation to court. Like Badeh, like Yunusa Dahiru (alias Yunusa Yellow), the alleged abductor of Bayelsa teenager, Ese Oruru as both are still in custody following their inability to meet the bail conditions. Dahiru, who is standing trial at the Federal High Court in Yenagoa for alleged abduction, kidnapping, unlawful carnal knowledge and sexual exploi-

20 21

tation, was a week ago granted bail for N3 million. He must also provide two sureties in like sum. The sureties, according to the judge must be resident within the jurisdiction of the court while one must be a civil servant of not less that level 12 while the second must be a title holder. The judge further said that the sureties must provide tax clearance for the past three years. While ruling on the bail application, the trial judge, Justice H. A. Nganjiwa, said the suspect should be remanded in prison custody pending the perfection of his bail conditions. Days after his bail application for bail was franted by the court, Dahiru is still wallowing in prison custody as he is yet to meet conditions attached to his bail. What then does the Constitution say about bail? Is bail a constitutional right of an accused person? If yes, why has it become a tall dream in the prosecution of an accused person? What does the Constitution say about bail? Section 35 (1) says: Every person shall be entitled to his personal liberty and no person shall be deprived of such liberty save in the following cases and in accordance with a procedure permitted by-(a) In execution of the sentence or order of a court in respect of a criminal offence of which he has been found guilty; (b) By reason of his failure to comply with the order of a court or in order to secure the fulfillment of any obligation imposed upon him by law; (c) For the purpose of bringing him before a court in execution of the order of a court or upon reasonable suspicion of his having committed a criminal offence or to such extent as may be reasonably necessary to prevent his committing a criminal offence… (4) Any person who is arrested or detained in accordance with subsection (1) (c) of this section shall be brought before a court of law within a reasonable time and if he is not tried within a period of—two months from the date of his arrest or detention in the case of a person who is in custody or is not entitled to bail or three months from the date of his arrest or detention in the case of a person who has been released on bail, he shall without prejudice to any further proceedings that may be brought against him be released either unconditionally or upon such conditions as are reasonably necessary to ensure that he appears for trial at a later date. Generally, bail is discretionary; it is granted according to the discretion of the court in CONTINUED ON PAGE 24

20 Law|Interview

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Ozekhome: Why NJC must bring corrupt judges to book

Ozekhome

Chief Mike Ozekhome is a Senior Advocate of Nigeria. In this interview with TUNDE OYESINA, he speaks on the trail of Senate President, Bukola Saraki, the anti-graft agency, corruption and judiciary.

Would you suggest that the Senate President, Dr. Bukola Saraki should step down to face his criminal trial? I mean, to be specific, is there a law compelling him to so do? There is no law that says because you are an accused person that you should step aside. It can only be argued on the basis of morality. That is what is obtainable in Nigerian criminal justice system. And if any one does not like it, they can amend the Constitution to that effect: that a person accused of a criminal offense is deemed innocent until he is proven guilty. You can look at that in Section 36 of the Constitution. That is why we say that the Nigerian Criminal system is accusatorial and not the French model which is inquisitorial, where your guilt is presumed and you are expected to prove your innocence. If we are to go by mere accusation, then virtually every person in this country will be guilty at one time or the other whenever there are allegations against them. The House of Representatives chairman on FCT, Mr. Hembe was charged to court and accused of taken estacode unlawfully, which he did not use. He was tried in the public domain by the media and the government, but he was later exonerated. How many people knew that he was never convicted after his reputation was badly dented? The former speaker of the House of Representatives, Dimeji Bakole, EFCC laid siege on his house for three days as they also did to Kashamu and smoked him from his house in chains. His hands were chained and he was tried in the public domain. He was going through tri-

al by ordeal and at the end of the day, he was discharged and acquitted on the allegation. How many Nigerians were aware of that? The same thing happened in the case of Wabara, the former Senate President, how many Nigerians are aware of that? The same thing happened in the case of a former minister of health and Iyabo Obasanjo. Offenses for which they were later discharged and acquitted, how many Nigerians were aware of that? So, it is not enough to try people and convict them in the media even before the court makes pronouncement. If everyone is forced to step down because of accusation, virtually every minister in this government, virtually every governor in Nigeria including the President himself will follow suit. It means nobody should be in office today. So, I think we should allow the normal cause of justice to take its place because , justice simulated and hurried and harried is even worste than justice delayed because as Professor Glavin Williams once put it: it is better that 10 guilty persons to escape justice than for one innocent person to be convicted without cause. So, we must be careful not to make Nigerians to begin to give up their fundamental rights and liberty for the order of any war. The greatest property a man owns is his freedom and liberty. If you remove them, he becomes worse than an animal. I believe in fighting corruption, but I insist that it must be done within the ambit of our extant law and due process and rule of law must be followed. The result is chaos and anarchy and the reverse side of the coin is to return to the obeisant state of

nature where life was shut nasty and brutish. We are not running an animal republic, we are running a decent society, bound by the rule of law, bound by constitutionality because we operate a constitutional democracy and not a totalitarianism or despotism or dictatorship or facism or monarchy or absoluteism. We are practicing democracy â&#x20AC;&#x201C; government of the people.

We must be careful not to make Nigerians to begin to give up their fundamental rights and liberty for the order of any war

Corruption on the Bench seems to have developed a human face as some judges are being fingered. Would you now fault the EFFCâ&#x20AC;&#x2122;s chairman comment on the judiciary in view of the emerging allegations of bribery and corruption? If any judge is found corrupt, he should be brought to book. But I know that of the three arms of government, it is only the judiciary that has a self-deodorizing mechanism through the NJC that have always smoked out any corrupt judge and dealt with him accordingly. The irony of the situation is that in some of these cases that the government and the ruling party are crying about, when they won the cases at the lower court either at the tribunal or the court of appeal, the judiciary was glowingly praised with a lot of adulation and encomiums as being the last hope of the common man and at the vanguard of the oppressed. There was nothing wrong with the judiciary at that time. That time, the judiciary did not give anybody any headache. Everything was nice and good. In Zamfara, Nasarawa , Benue, Plateau and other APC controlled states, once the Supreme Court de-

livered judgement in favour of the ruling party, the judiciary was good; it was the last hope of the common man. But as soon as the same Supreme Court judgement favoured the states that are not controlled by the APC, such as Akwa Ibom, Rivers, Abia and Taraba, the judiciary became corrupt and must be probed. How many people remember again that the election petition in Rivers was moved to Abuja on the grounds of security concern and that the PDP and Wike challenged this movement to Abuja. The matter was fought up to the Supreme Court. Justice Mary Odili, who some people unfairly and recklessly dent her hard earned reputation was actually a member of the Supreme Court panel that ruled that there was nothing wrong in moving the tribunal from Port Harcourt to Abuja even when the then tribunal chairmen had complained of an attempt by external forces to influence it and he was thrown out of the panel. The very panel that finally said that Wike won the election did not even have Justice Mary Odili in it. It was another panel entirely. But suddenly, that brilliant jurist, her image has suddenly looming large like big brother Africa that she could have destroyed seven justices of the Supreme Court led by the CJN to rule against the APC candidate. For Godâ&#x20AC;&#x2122;s sake, I think we should learn to take victory with magnanimity and loss with equanimity. There is no need to tarnish the reputation of the Supreme Court with dent brush of allegation simply because they ruled against some people. In many of the states where violence was alleged, kidnapping, thumb printing, over voting, some of these people called only 20 witnesses out of which only four were from pollC O N T I N U E D O N PA G E 2 2

Law|Interview 21

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Okobi: My Sociology, Psychology background gave me edge at NIC She is an alumnus of the famous Howard University, Washington D.C. where she obtained a degree in Sociology, Psychology and Economics in 1968. Justice Victoria Nwabuaku Okobi served on the Bench of the National Industrial Court (NIC) as a Judge for 10 years until her retirement on October 19, 2010. Okobi speaks on her days on the Bench, life in retirement, judiciary, corruption and varied issues. FLORA ONWUDIWE met her

ustice Victoria Nwabuaku Okobi was born in Arondizuogu area of Imo State. She had her university education in the United States where she attended the famous Howard University, Washington D.C. for a degree in Sociology, Psychology and Economics in 1968. Shortly after her dep... Okobi returned to the comentry where joined the Federal Civil Service as a Social Development Officer in the Ministry of Labour in 1972. Justice Okobi who had traversed the nation’s civil service like a colossus, was in August 2000 appointed a member of the National Industrial Court(NIC) after 23 years of meritorious service in the federal civil service. Although she neither studied law nor received any training in legal practice, Victoria Nwabuaku Okobi presided over industrial cases for a decade. Okobi became a judge of the National Industrial Court in August 2000 under the Trade Dispute Act. By virtue of the Act, Okobi adjudicated on hundreds of cases involving trade unions, employers and trade disputes as the court of last instance. In other words, NIC decisions are final in trade disputes. This, as contained in Section 2(4) (b) of the National Industrial Court Act 2006, Okobi assumed the role of an adjudicator and became eligible to hold the office of a judge of the court. She however became the first female non-lawyer to serve in the capacity of a judge on the Bench of the National Industrial Court; the position she held for 10 years while dispensing justice without fear or favour. Justice Okobi retired from the Bench on October 19, 2010 after attaining the mandatory retirement age of 65. She told New Telegraph this way: “I am Justice Mrs. Victoria Nwabuaku Okobi (rtd). I attended Holy Rosary Secondary School Ihuoma Orlu and I obtained a Bachelor degree in Sociology, Psychology and Economics at Howard University Washington D.C. in 1968. I also obtained a post graduate diploma at the Rochester, New York, United States of America. Besides, she dwelt glowingly on life after Bench, saying she is spending her life in retirement to train and develop Nigerian child. This, according to her had been more of a voluntary one. She said: “After retirement, I have been doing voluntary work. As a career woman when you retire you now want to put emphasis on the home. I belong to several organisations and I still pursue

Okobi

my interest to the development of Nigerian, so I have been busy in a way. On her days on the NIC Bench, Justice Okobi said “when I joined the National Industrial Court, it was not a court per se but we were set up under the Trade Dispute Act which made it possible for lawyers and non-lawyers to join and abdicate in the court. “In 2006, the court became a court of superior record and based on that those lawyers and non-lawyers who were part of the court were assumed to have been automatically converted because they were doing the same job. Trade Disputes and the Industrial Court then were not a court of technicalities. I think that was why it was done in such a way that labour matters was strictly between employee and employer relationships and is not strictly of law, until the change. Now, it is a sort of combination of both. Some of the fulcrum of issues which dominated the court included discrimination at the work place, collective agreement, bargaining and wrongful dismissal. These were the issues that often came to the court. Unfair dismissal was one of the issues, labour unions, right of workers compensations, among others were decided by the court. Also, Justice Okobi spoke on corruption on the Bench and concluded that it was more of systemic than blaming a particular arm of government. She said: “I don’t think so, I think, the judiciary thing came up because of politics; there is a

Industrial court is a fantastic place to work; the president of the court and the judges are all committed, dedicated and hardworking

lot of unnecessary interference. I think the issue is that judges at the state level are under the governors of the state because they pay them and take care of their remuneration. So, naturally you see how Judges could be influenced but if the judiciary is well funded then it will be easier for them to do their job. “Corruption is a subject that is very fluid and ambiguous. If corruption means stealing, well there is stealing at all levels, so you cannot blame any particular sector but it is something that needs to be looked into to know why people out of economic situation do certain things. In the house, the steward steals and the police too, it is unfortunate, I don’t like to talk about corruption because I would rather talk about making the society what it should be. In other developed countries because you have transportation, you have power, water, medical, schools, if all the infrastructure is in place then anybody found to be corrupt should be taken care of by the law. But it is very difficult for people to exist or survive the way things are. However, Justice Okobi reminisced on her days on the Bench of the National Industrial Court and concluded that judges on the court’s Bench are incorruptible. “Industrial court is a fantastic place to work, the president of the court and the judges are all committed, dedicated and hardworking and I am glad to say that they are incorruptible”, Okobi said.

She went on: “We have cases where workers were reinstated because they were dismissed unfairly; we have cases where penalties were given to erring companies and workers compensated. “I enjoyed working at the Industrial Court; we were a very hard working team; we were like a family and we did to the best of our knowledge and we had the opportunities to learn from other countries that had the same Industrial Court. We did a lot of workshops and a lot of travels as we were able to participate in other labour courts at the Commonwealth and outside the Commonwealth “My Sociology and Psychology helped me to function very well in the court because the court did not go by the technicalities of the law as it was more of arbitration and settlement of trade disputes which by my background and years in the service helped me a lot to be able to adjudicate cases. “We have the federation of Women lawyers, most times women don’t come forward with their issues, how many women do come out to say that they were raped because of stigmatization that is attached to rape? How many widows have the courage to come out and fight for their right considering the local traditions and culture? There was a case of a Lady in Anambra State that became a classic judgment whereby the Supreme Court ruled that if a woman have children whether they are boys or girls they are entitled to inheritance Before if you have girls and your husband dies you might as well pack and go. But now you can stand on the strength of the judgment and fight for your right especially when you lived with the man all your life and had children. Looking back, Justice Okobi who is in her early 70s said she had a fulfilled career. She said: “ I returned from the United States in the early 70s and I was employed at the then Federal Ministry of Labour and during that time the first United Nations conference on women was held in Mexico where it was decided that every country should have national machinery for the integration of women in the nation’s development. “So we had a women session where we agreed to follow up with the implementation of the United Nations’ resolution of which Nigeria was part of. From that session, it grew up to be a department, from the department it grew up to be National Commission for Women, from National Commission of Women under the leadership of Hajia Maryam Babangida of blessed memory, which metamorphosed into the Federal Ministry of Women and Social development under the leadership of Hajia Maryam Abacha. So, today this is how women session metamorphosed into the present Ministry of Women Affairs. Before working in the office of the late first lady, Mariam Babangida as special Assistant, I had worked in the office of the first executive Vice president, Chief Alexander Ekwueme C O N T I N U E D O N PA G E 2 2

22 Law|JURIST

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Why I excelled as a judge, by Okobi C O N T I N U E D F R O M PA G E 2 1

where I was privileged to work with his wife, Mrs. Beatrice Ekwueme as a special assistant and that was how the office of the first lady actually started in Nigeria because she was involved in voluntary organisations, women, children while playing the role of the first lady. I was working with her in the presidency and because I was on the women desk in the ministry, I had the privilege of working with all the first ladies, writing their speeches, advising and writing books for them in their various social activities and programnmes. I also worked in the ministry as a director of women affairs. During the military era, the first lady will call all the governors’ wives and the directors of ministries responsible for women and we had periodic workshop where every state reported what it had done and what they planned to do and she(Mariam Babangida) used to hold that every year and each state compiled reports. This project gave women a lot of advantages. For instance, rural women were taken to the International exhibitions, women from Cross River were doing snail production, tie and dye, Shea butter and the Akwete weavers. It is unfortunate that we don’t have some of these indigenous

materials any more, everything is now being imported into the country; textile industries were working, there were better life rural uniforms with encouraged local industries. But sadly, everything has disappeared. “I have an NGO, Maternal and Child Welfare Association, being run in a quiet way to impact the lives of women. I am doing it within my resources but right now I am creating awareness and counseling young people. But my years of service were not in vain as I bagged so many awards in recognition of my service to humanity. Justice Okobi said: “I was honoured as one of the 15 powerful women in Africa, I was shocked because these were women you worked with during the years of the UN conferences in Beijing, among others. I was the first Nigerian woman to serve at the United Nations Institute for Training and Research for the Advancement of women. I found myself with the likes of Winnie Mandela whom we worked together when her husband was in jail; she used to come to Nigeria a lot, then the new Mrs. Grecian Marcel, Sir Leaf Johnson; we were all with her when she was being incarcerated. I did not know that people took note of this because we used to attend a lot of the United Nations conferences

Okobi

on women, so that was how we got to know ourselves including Mrs. Joyce Banda; these are women that are in the fore front of women issues in Africa. I was surprised that I received the award of Excellence in South Africa. Two of us from Nigeria got the award. The other woman is the famous Mad-

am Anyiam Osigwe; she is a fantastic woman and she has done a lot. We were honoured. It was quite a thing of pride for us because I was not expecting to be in that group. It is time women must had confidence in themselves, I don’t believe that women are being marginalized, do what you can as women should continue to strife; women must not neglect their homes as raising their children is paramount because no matter how successful you are, if you have a juvenile child it destroys whatever you think you have achieved. “I appeal to women while pursuing their work and career, to balance home. I appeal to the government and employers of labour to have well equipped day care crèches for women. This was one of the resolutions we had in one of the International women’s day years back. We had a course for day care assistance to teach them on how to take care of children. “I thank God, and with all humility, I did a lot of work for the Nigerian Women. I was one of the pioneer staff that started this women movement and I felt my country has not given me the recognition that I deserve. So, for me to get this recognition in a far-away South Africa, I thought that was God’s doing , God who has compensated me for all the works I did for Nigeria.

‘DSS’ arrest, detention of Ekiti lawmaker unlawful’ C O N T I N U E D F R O M PA G E 2 0

ing unit, while under the Electoral Act, the polling unit is theatre of war; that is where results are collated and put in form EC 008 or so. It is the collated results that are transferred to the ward level and to the local government and from the local government to the headquarters of the state. Now, when you called four witnesses to prove election violence, over voting, rigging, manipulation in out of about 25, 000 polling units, how do you think that such` evidence can be substantiated? In a ward there could be 10 polling units, two polling units could have been where the crime held, how do you now criminalize the remaining eight units and the entire ward for the error of two polling units? How do you now use card reader, a mere device by INEC to facilitate election to defeat the voter’s register which is recognised by the Electoral Act? And for you to prove over voting, you must compare the voting by the card reader, including the ones done manually with incident form. So as to compare them with the exact real population in the voter’s register. In most of these cases lost by these states, they did not even tender the voter’s register. For you to know a counterfeit or imitation, you must produce the original. If you do not have an original, you cannot prove a forgery or counterfeit. In most of these states, they never presented voter’s register and they did not prove their case at all. So, if the law is wrong, the National Assembly should go ahead and amend it. You cannot criminalize a court for applying the law as it is. There is a difference between what we called les Lata, that is, the law as it is and les delege surenda, the law as you will want it to be. All these critiques are looking at the law in their own imagination and in subjectivity. Supreme Court is the apex court in the land. When the panel of the court sits, they look at the law holistically. They may ere as human beings but it is upsurd and ungracious for anyone to accuse the Supreme Court of corruption simply because they did not rule in a particular way particularly after

the Chairman of the APC cried aloud that they wanted Rivers at all cost because it is an oil producing state. For God’s sake, we should not play politics like this, let us play politics of decency, because Nigeria politics is now showing that we don’t really operate democracy. If we fight to fight corruption, let us do it with all sincerity, let us fight it with honesty, let us do it holistically and not selectively. The British Prime minister is being queried by the opposition for projecting 35,000 pounds to maintain government residence, the British Prime Minister does not have his private jet to fly across the world. When he travels, he flies either British airways or Virgin Atlantic. In Nigeria, we have over seven jets in the Presidential fleet, consuming billions of naira annually. What are we doing with them?

Ozekhome

One jet should be enough in the Presidency, may be another one for the National Assembly. But if we do not cover the loop holes and we are still talking about fighting corruption and recovery funds from people, it sounds hollow and that is why most Nigerians are not buying into it. All the monies said to have been recovered for example, where is it kept, with who? How much is it? What has it been used for? We need to know, we should not be silent, we should not be made as if we are sleep-walking and cannot challenge government’s decision. As if all of us must shut up, as all of us must run and hide. That is not my concept of democracy. When some of us were fighting for democracy, we genuinely believed that democracy will be the government of the people by the people and for the people. I

am not too sure that is what I am seeing now. Our government should always be with us, they should be clear to us, tell us their challenges, and tell us how we may key into it through persuasion. Not through brutal force. Some youths in Ekiti State staged a peaceful protest at the weekend over the House of Assembly an alleged invasion of the Department of State Services (DSS). What do the alleged invasion of Ekiti and the detention of the lawmaker portend for the rule of law? The action of the DSS in invading the Ekiti state House of Assembly and taking away legislators is highly condemnable, dictatorial and very undemocratic. A House of Assembly is hallowed and sacred and should never be desecrated on any account. The DSS is primarily responsible for security matters and intelligence gathering within Nigeria, for protection of senior government officials, the President and the state governors. It is neither the police nor the EFCC. The invasion is more curious and detestable. Happening as it did in Ekiti state, where Governor Ayodele Fayose has been a wellknown critic of President Muhammadu Buhari, his government and party, APC, the impression must not be given that the present government which rode to power on the crest of popular opposition and critical dissent is muzzling opposition or brow beating and intimidating those who hold different opinions. For there to be an invasion of a House of Assembly, is a very serious thing which goes against the gains of democratic practice and observance of the rule of law. Our constitutional democracy envisages robust opposition because power corrupt and absolute power corrupt absolutely. Nigerians’ freedom, liberty and rights should be allowed to flourish and not be abridged or decimated on the altar of political expediency. Power itself is ephemeral. Its wilders should always act with discretion, respect for the Constitution and extant laws. I call on the DSS to immediately release the legislators or charge them to court.

Law|News 23

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Ali canvasses moral value as panacea for graft

Ali

Foluso Ogunmodede

arents must go back to the drawing board by ‘instilling the doctrine of moral value’ in their children and wards if the nation must win the war against corrupt practices, a Senior Advocate of Nigeria, Malam Yusuf Ali has said. Ali, who reviewed the ongoing war against graft by the Muhammadu Buhari’s administration, concluded that it was time parents began to play their role by enforcing the rule of moral value on their children’s upbringing with a view to helping the government to rid the nation of corruption. In a chat with New Telegraph, Ali said although it may take time to become effective, every parent must begin with the

doctrine of moral value if the war must succeed. He said: “We have to start the doctrine of instilling moral value in our children, it may take time but we have to start. Let’s give our children the correct moral value, moral orientation and let every family stand up and do what is right. If I am not a thief and I don’t encourage my children to be thieves, the society will be free of crime. I also think we should discourage ourselves from cutting corners to get to the top. If we do this, it will go a long way in solving part of the problems. Besides, Ali asked the ruling All Progressives Congress (APC) party to address a series of leakages dotting the nation’s ailing economy rather than focusing on salaries of public officeholders. He said that it may not be uhuru until

leakages of corruption were blocked as no government would ‘conquer’ corruption ‘by fighting from the top to the bottom’. Ali went on: “The drain on our nation’s economy is not the salaries of these public officeholders but it is the leakages and the corruption that is the problem. So, for me, if you are given a salary that you are supposed to earn legitimately, I don’t have any problem with that. The fundamental issue to address is to ensure that people get paid for a-full-day job and people also discharge their duties to earn a full day’s job. Let’s block all other leakages of corruption. Once we do that, we will be able to curb the menace of corruption to a large extent because what goes to corruption is more than 10 times of what we pay to public officials. “If you want to fight corruption, you have to be holistic in the whole approach. Corruption is not something you fight from the top to the bottom, it is a whole thing. “If you want to start by assuming that it is only political officeholders that are corrupt, it is wrong. There is corruption in many professions; there is corruption in trade; there is corruption in every facet of our national life. “For me, we need moral re-birth as a country. We must allow the young ones to know that corruption will destroy their future. We must get to a level where we have to feel disdain for corruption. If we don’t get to that level, we are joking. “My theory is that Nigerians are actually corrupt and encourage their leaders to be corrupt. Corruption is not about monetary inducement alone. For instance, you are my brother, you are given an appointment and the first time I come to you is to request for a huge sum of money or a brand new car when in reality, your take home pay for a month is not even enough to buy you a brand new car and if I don’t accede to your request, people will start complaining. The

second point is maybe you have a child with a third class and there is a position with a high competition of various candidates with first class and second class upper but you insisted that the position should go to your child with a third class, you leave those who are better qualified, that is corruption. Thirdly, in this country now, there is hardly any community that questions the source of wealth of its people. It uses to be, when we were younger but now, someone who used to be a road side vulcanizer or a mechanic suddenly begins to buy cars, build new houses and nobody questions the source of his wealth. He takes the money to his community and people begin to see him as a saviour. The same thing goes to churches and religious bodies. People collect bribe and pay tithe with the bribe money and nobody ask questions because our value system has gone. “We have to start the doctrine of instilling moral value in our children; it may take time but we have to start. Let’s give our children the correct moral value, moral orientation and let every family stand up and do what is right. If I am not a thief and I don’t encourage my children to be thieves, the society will be free of crime. I also think we should discourage ourselves from cutting corners to get to the top. If we do this, it will go a long way in solving part of the problems. “The problem we have is starting. Let’s just start something. If successive governments had tackled corruption the way President Muhammadu Buhariled government has done in the last 10 months, maybe, we would have gone further and better. If the last administration’s effort was on this note, maybe, we would have gone far. So, let’s start and do things that will be sustainable. He however dismissed insinuations that corruption had enveloped the Judiciary, describing it as mere allegations which would remain one till time to come.

NBA Presidency: Gadzama, Mahmoud seek Lagos lawyers’support Foluso Ogunmodede

wo leading aspirants for the presidency of the Nigerian Bar Association NBA), Chief Joe-Kyari Gadzama (SAN) and Mr. Abubakar Mahmoud (SAN) have offered reasons why they should be the preferred candidates in the forthcoming general elections to elect the next president for Africa’s largest Bar. The NBA will in July elect a new officers to succeed the outgoing executives being led by their president Mr. Augustine Alegeh (SAN) who assumed office in August 2014. There was an unwritten understanding within the Bar that the leadership should rotate among the three geographical zones- Eastern, Western and Northern zones. The zoning arrangement has now been stamped by the amended NBA Constitution 2015. Section 2.2 (b) of the Second Schedule to the Constitution provides that “the positions of the President, 1st Vice President, 2nd Vice President, 3rd Vice President and General-Secretary shall rotate among the three zones. In determin-

ing the eligibility of a candidate to contest for any of the rotated offices, regard shall be given to a candidate’s geographical zone of origin and not the geographical zone where he/she carries on legal practice.” Speaking in Lagos at the weekend at the monthly general meeting of the Lagos branch of the NBA, Mahmoud gave a pictorial record of several professional positions he has held in his career including his role as a former Solicitor-General of Kano State. He was also at various times Attorney-General and Commissioner for Justice, Kano State as well as a member, Legal Practitioners Privileges Committee. Mahmoud however assured his colleagues of his pedigree that he would run a “thoroughly professional Bar,” vowing that his leadership would tackle the recent odium being heaped on lawyers for alleged complicity in derailing the anti-corruption fight by instilling discipline within the association. To Gadzama, his record as a consummate Bar-man would give him an edge over Mahmoud for the NBA

topmost post. “You know me, I know you; we are not strangers to one another,” he said. While stressing that he was neither cajoled nor co-opted into this race by any group or individual, Gadzama said his decision to run for the NBA exalted post was his personal decision. “The decision to run for NBA presidency is my personal decision made upon deep reflection on the need to serve the Bar,” Gadzama said. Speaking earlier, the chairman of the branch, Mr. Martin Ogunleye urged members to take keen interest in the forthcoming NBA general elections, noting that the quality of leadership of the Bar invariably affected the professional lives of lawyers, insisting that only competent and reliable lawyers should be elected to lead Africa’s largest Bar as “the time has come to take NBA to the next level.” At the meeting were Pa Tunji Gomez, Mrs. Hairat Balogun, Chief Emeka Ngige (SAN), Chief Ziggy Azike, Otu Oka-Iwu President, Zik Obi, Mr. Ladi Williams (SAN) and Dr.

Mahmoud

Dapo Olanipekun (SAN). Others are Dr. Joseph Nwobike (SAN), Chief Bolaji Ayorinde (SAN), Mr. Wale Akoni (SAN), Dr. Garba Tetengi (SAN), Lady Debbie Obodoukwu, and former Lagos branch chairmen, Messrs Foluso Fayokun and Alex Muoka.

24 Law|news

monDAY, MARCH 28, 2016 NEW TELEGRAPH

Lawyers: Stringent bail impedes justice system C O N T I N U E D F R O M PA G E 1 9

strict adherence to the Constitution and the rule of law. This is suffice to say that an individual accused of a crime must be held in the custody of the court until his or her guilt or innocence is determined. However, the court has the option of releasing the individual before that determination is made and this option is called bail. The right to bail is intrinsically affiliated of the accusatorial system which favours a bail system that ordinarily enables a person to stay out of jail until a trial has found him or her guilty. Bail to an accused person awaiting or standing trial is of great importance. An accused person who is released on bail would not only see it as an opportunity to breathe air of freedom but also as a stepping stone to his eventual discharge or acquittal as the grant of bail is always based on the presumption of innocence. This simply means that an accused is presumed innocent until the contrary is proved. It is not for the accused to prove his innocence rather the burden of proof is on the prosecution to establish the accused person’s guilt to the satisfaction of the court. In other words, bail is a conditional right guaranteed by Section 35 of the 1999 Constitution. To grant bail is to set at liberty a person arrested, charged to court or imprisoned on security being taken for his appearance on a day and place certain for his trial. When bail is granted a suspect, an accused or convicted person, is temporary released from custody pending the conclusion of investigation, determination of the case against him, or determination of his appeal against conviction would be assured. The turn of things as far as bail is concerned especially in recent money laundering cases show that the right of an accused person to bail is being trampled upon as the condition for the bail granted is said to be strenuous and could not be easily met by accused persons. For instance the Federal High Court sitting in Abuja had on March 11 granted bail to Badeh to the tune of N2 billion. Badeh, who has been in detention since February 8, is defending a 10-count criminal charge preferred against him by the Economic and Financial Crimes Commission. He is facing trial over allegation that he fraudulently diverted N3.9 billion from an account of the Nigerian Air Force. Justice Abang while ruling on the bail application, maintained that under Section 36 of the Constitution, the defendant ought to be presumed innocent until his guilt is established, he however held that he would in view of the amount contained in the charge, grant the Badeh bail to the tune of N2 billion with two sureties who are to deposit N1 billion each. The court ordered that the sureties must not only be residents in Abuja, but must own landed property in the Federal Capital Territory with a valid Certificate of Occupancy. It said the Chief Registrar of the court must authenticate the ownership and value of the property. Justice Abang directed

Yunusa

Mohammed

that upon being put on notice by the defendant, the EFCC should within 24hours independently ascertain the residence of the sureties as well as their ownership and value of the landed property. Besides, the sureties are to provide their three years tax clearance certificates, deposit the original title documents of the property, and also depose to an affidavit of means. The sureties, according to the court, must also submit their two recent passport photographs as well as produce evidence that they have the means to pay the total sum contained in the charge should the defendant jump bail. But about 17 days after, Badeh is yet to perfect his bail condition due to the stringent bail conditions. The same issue played out while the National Publicity secretary of the Peoples Democratic Party (PDP), Olisa Metuh was arraigned and granted bail. The same judge had on January 19 admitted Metuh to bail in the sum of N400m with two sureties in the sum of N200m each. The judge also ruled that the sureties must produce the certificates of occupancy of the property which must be verified by the Chief Registrar of the court and confirmed by the Economic and Financial Crimes Commission. The judge who also ordered that Metuh must deposit his traveling documents with the court pending the period of his trial, ordered the EFCC to verify the residence of the sureties who must be resident in Abuja. After about 8 days of inability to perfect the bail condition, Metuh had to return to the court to vary the condition. It was after the bail was varied that he could meet it. In his view, a foremost Senior Advocate of Nigeria and titled chief, Mike Ozekhome said there was the need for judges to exercise their discretionary powers judiciously while granting bail to accused persons so that they would not make those accused of crimes believe feel their fun-

Giving an accused person stringent bail condition does not portray the judiciary in good light

damental rights and liberty were being denied them. He said: “I think we should allow the normal cause of justice to take its place because justice simulated and hurried and harried is even worse than justice delayed because as Professor Glavin Williams once put it that it is better that 10 guilty persons to escape justice than for one innocent person to be convicted without cause. “So, we must be careful not to make Nigerians to begin to give up their fundamental rights and liberty for the order of any war. “The greatest property a man owns is his freedom and liberty. If you remove them, he becomes worse than an animal. I believe in fighting corruption but I insist that it must be done within the ambit of our extant law and due process and rule of law must be followed. The result is chaos and anarchy, and the reverse side of the coin is to return to the obeisant state of nature, where life was shut nasty and brutish. We are not running an animal republic but a decent society bound by the rule of law, bound by constitutionality because we operate a constitutional democracy and not a totalitarianism or despotism or dictatorship or facism or monarchy or absoluteism. We are practicing democ-

racy – government of the people.” Ozekhome was echoed by Mr. Adeoye Adeoti, who believes that to make a bail stringent is a way of given a child something with the right hand and taking it back with the left hand. Adeoti described stringent bail conditions as contrary to Sections 35 and 36 of the Constitution and the objective of the drafters of the Constitution. He said: “Bail is not meant to deter an accused person from standing trial, but an opportunity for him to stand his trial. Giving an accused person stringent bail condition does not portray the judiciary in good light. This is because every accused is presumed innocent until it is proved otherwise. “And in as much as someone is presumed innocent, then his fundamental rights to freedom is guaranteed. Any attempt to make the exercise of the right difficult by the court is infringement on such individual’s right. “Although, there are instances when bail can be completely turned down by the court, this is determined by the gravity of the offense and the length and gravity of the punishment. “But in money laundering charges, the offense is bailable and justice should not only be done but must be seen to have been done in the granting of bail”. Another lawyer and university teacher, Dr. Yunis Imam opined that bail should not be made stringent because it touches on the constitutional rights of an accused person. Imam said: “Making the condition of bail stringent is a way of turning down bail applications and our constitution does not promote such. An accused is presumed innocent no matter the gravity of the offense committed until such is proven beyond reasonable doubt by a competent court of law. “Although bail is at the discretion of the court but that is not to say that the court should make the condition so stringent for the accused person to perfect it. Remember, an accused person is to be prosecuted and not persecuted. Denying an accused bail or given a stringent condition is a way of trampling on the accused person’s fundamental right to freedom. “In addition, an accused person is to be allowed to prepare for his trial, and this can only be done when he is not behind the bars while the trial is on.”

8 babies, 9 pregnant women in Kirikiri prison, says DCR T

he Director Directorate of Citizens Rights (DCR), Mrs. Omotilewa Ibirogba at the weekend said the organization was ready to wean eight babies delivered by women detained at the Kirikiri maximu Prisons, Lagos and hand them over to their mothers’ relatives upon attainment of 24 months. Ibirogba,who led an eightman team of her department on a welfare check to the prisons and to donate toiletries, said eight babies, nine pregnant women were among 222 inmates in the female section of the prisons. She alongside her team,

were received by an Assistant Controller of Prisons (ACP), Mrs. B.C. Nwaekwe. Ibirogba, while chatting with journalists, explained that the visit was part of the effort of the state government to decongest the prisons. Asked for the fate of the babies, she explained that once they attain 24 months, they would be taken from their mothers and handed over to their appointed relations so that they would not be institutionalised. The prison which is over populated, has175 awaiting trials, 43 convicted, two undergoing life imprisonment

while the remaining two are condemned inmates. The DCR director said their findings revealed that most of the inmates already had legal representations and been granted bails but yet to perfect such bail conditions just as she unveiled the directorate’s plans to provide free legal services to those whose cases were not going on well in the court while applications would be filed in courts to vary bail conditions by those already granted bail by the courts. Contrary to what obtained in the past, Ibirogba said the inmates looked neat, healthy and had no rashes on their body.

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Moneyline Speculation mounts over introduction of dual exchange rate

Business What's news Why licensed InfraCos’ rollout is delayed, by NCC

Interview Why Nigeria’s ship owners can’t compete with peers, by LADOL boss

27 34

Rates Dashboard INFLATION RATE February 2016...........................11.4% January 2016.............................9.6% December 2015........................9.6%

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

EXCHANGE RATE

(BDC as at March 25)

(Interbank as at March 25)

USD . . . . . . . . . . . . . . . . . . . . . . N320 Pounds . . . . . . . . . . . . . . . . . . . N457 Euro . . . . . . . . . . . . . . . . . . . . . . N360

l Foreign Reserves – $27.888bn as at 21/3/2016

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

Source: CBN

p.26

L-R: Deputy Director, Federal Ministry of Education, Mrs. Sherifat Balogun; Business Executive, Sterling Bank, Yaba Region, Mr. Abiodun Oladipupo; and Educational Administrator, Caleb Group of Schools, Dr. Funmi Oboye, at the Parenting Workshop organised by Sterling Bank as part of its One Education initiative weekend.

EU, US compete for agric export market in Nigeria p.26

Crude rout: IOCs prepare investors for tough 2016

Multinationals expect fall in Q1 results The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

GRADUAL RECOVERY Wood Mackenzie expects a gradual recovery to high $50 a barrel towards the end of 2017

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Adeola Yusuf

he international oil companies (IOCs) have lowered their expectations for the first quarter of 2016 after they had all declared 2015 end of the year financial results that dashed hopes of dividends for shareholders. Consequently, the multinationals have started preparing their shareholders for another tough year-end in 2016. The prices of oil, which is their cash cow, have tumbled from over $100 a barrel in the summer of 2014 to less than $50 a year later. ConocoPhillips (CNOOC) Limited, the last to release last year’s result, revealed in its 2015 financial results statement that its profit

plunged 66.4 per cent to RMB 20.24 billion ($3.1 billion) in 2015, compared with RMB 60.19 billion ($9.2 billion) the year before. Similarly, Shell, Chevron, Total, Eni and ExxonMobil have also declared their 2015 result, which were dismal compared to their 2014 results. Global crude market analyst, Wood Mackenzie, believed that the IOCs have not seen the worst. The deferrals in global oil and gas projects, according to Mackenzie analyst in a report at the weekend, may increase to half a trillion dollars this year, up from the previous estimate of $400 billion. The agency sees the current lowprice environment possibly leading to more delays in oil and gas projects, raising the overall amount of capital expenditure (CAPEX) deferred for such developments to as much as half a trillion dollars this year, up from the consulting firm’s previous estimate of around $400 billion. The company’s head of Consulting, Dan Young, said this during a panel session at the Offshore Technology Conference (OTC), Asia 2016, in Kuala Lumpur, Malaysia.

1 trillion Being the estimates of oil and gas investments that may be deferred globally this year if the oil rout persists

Companies in the oil and gas industry, preoccupied with the state of their financial health in the prolonged market downturn, have trimmed CAPEX since 2015. Wood Mackenzie estimated in its mid-2015 review of CAPEX reductions and deferrals that $220 billion of oil and gas investments have been delayed globally and the figure was revised higher to around $400 billion during its year-end review. Mackenzie said: “What we have seen since the end of last year is that that number continues to grow and more and more people talk about project cancellations rather than deferrals. “Will we get to half a trillion dollars in the course of this year? I won’t be surprised if we go that far,” Young said, adding that capital discipline and capital preservation are such an acute pressure facing oil and gas companies. On oil prices, Wood Mackenzie expects a gradual recovery to high $50 a barrel towards the end of 2017. “The market (will become) a bit CONTINUED ON PAGE 26

BUSINESS |news

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Why licensed InfraCos’ rollout is delayed, by NCC VICISSITUDES The regulator may tweak the framework for InfraCo licensing as constituted committee looks into framework

Kunle Azeez

he on-going fine-tuning of the licensing documents by the Nigerian Communications Commission (NCC), New Telegraph has reliably gathered, is causing the delay by the already licensed Infrastructure Companies (InfraCos) in rolling out. Despite having awarded InfraCo licences to MainOne and IHS early last year, the “crossing of T’s and dotting of I’s of the licence documents” has kept the licensees waiting for the final regulatory approval. The InfraCo model was developed two years ago by the NCC, having widely consulted the industry stakeholders, as an open access model for accelerating deployment of broadband infrastructures in all the six-geo political zones of the country. Consequently, seven InfraCo licences were billed to be issued by the regulator, each in the geo-political zone and Fed-

eral Capital Territory, Abuja. Two of the licences were awarded to MainOne and IHS last year for South-West and North-Central regions respectively. This newspaper, however, gathered that about a year after awarding the licences, there has been a delay in rolling out servicesby the licensees. Speaking in an interview with this newspaper in Lagos, Director, Public Affairs, NCC, Mr. Tony Ojobo, disclosed that the commission was still putting findings touches to the model of service rollout for the licensees. “What we have done at NCC was to constitute a committee of officials of the Commission from relevant departments to look at the two licences that have been issued and come up with a licensing framework for the remaining InfraCos licences that we are about to issue,” Ojobo said while speaking with our correspondent on the side-line of the 2016 eWorld forum in Lagos. According to him, the out-

standing licences will be for the remaining five regions that have not been awarded licence. “For now, we have just done that of Lagos and the North Central, which takes care of Abuja as Federal Capital Territory and Lagos as the commercial capital. “Now, the two InfraCos have not rolled out because there are still areas where we need to fine-tune the licence document with a view to ensuring that they deliver the kind of value that we expect the InfraCos to deliver. “So, we are just crossing the t’s and dotting the i’s of the licence document. By the time they take off, they would be rolling out services in line with the stated specific terms and conditions of the licence that they have been issued.” Ojobo explained that the Commission planned to award the remaining five licences before the end of the year. “It is our hope that the remaining five licences would be issued sometime during the

year. We don’t have the specific date but a committee has been working on that - analysing the licensing framework for the InfraCo licensing, but they would be licensed before the end of the year,” he assured. Ojobo also clarified issues on the possibility of making changes to the framework in order to make sure it achieve its set objective of deepening competition and not encouraging monopoly in the industry. “The issue is also one of those that we actually have been discussing in the Commission, but, of course, at the time the InfraCo model was proposed to the Commission, it was based on some of the studies that have been carried out in other parts of the world, where that particular open access model has been used. “But, as I said, there is a committee that has been set up to develop the framework for InfraCo licensing model and the issue of concerns being raised in some quarters that the model could breed monopolistic proclivity

L-R: Executive Director Public Sector, First Bank of Nigeria Limited, Dauda Lawal; Managing Director, Port Harcourt Refining Company (PHRC), Mr. Banfred Audu Enjugu; MD/CEO, First Bank of Nigeria Limited & Subsidiaries, Dr. Adesola Adeduntan and Director, Gel Utility Limited, Mr. Felix Achibiri, during the facility tour of Gel Utility Power Plant project financed by FirstBank, at the Port Harcourt Refining Company.

IOCs prepare investors for tough 2016 CONTINUED FROM PAGE 25

tighter, especially as we gets towards the end of the year ... and towards the back end of 2017 we should be in the high $50s,” Young said. The current oversupply in the oil market will ease as Wood Mackenzie believes that global demand will grow by around one million barrels a day this year while supply will grow more modestly than in previous years. “OPEC supply this year will grow somewhere in the 300,000 barrels a day range and most of them (will come) from Iran and Iraq, but non-OPEC (supply) will decline significantly. So, the net new supply this year is about 100,000 barrels a day relative to the global demand growth,” Young added. Meanwhile, CNOOC declared a result that is below expectations. In 2015, the company’s oil and gas sales revenue was RMB 146.6 billion ($22.5 billion), representing a decline of 32.8 per cent year-on-year. CNOOC reduced its capital expenditure by 37.9 per cent last year to RMB 66.5 billion ($10.2 billion) and cut its all-in cost by 5.9 per cent year-on-year to $39.82 per barrel of oil equivalent as a result of its efficiency programme.

is also being looked into by the committee,” he explained. Ojobo said: “If the committee discovers that, maybe, there might be little tweak to the model, it might be necessary to do some tweaking, but I would not want to pre-empt the work of the committee.” He explained that the committee would look at the issue of licensing for the remaining InfraCos and other sundry issues. Ojobo said: “So, if they think there is a need to open up to more players, they will put in their recommendation. But, of course, we also look at the market in terms of the demand and content. This is because what basically drive broadband services is content. Do we have enough contents in those regions that will provide the number of players to remain in the market? You will remember that today, we are still talking about the CDMA operators that a good number of them are not in the market. Even the last one –Visafone has been bought over.

EU, US compete for agric export market in Nigeria IRONNY Nigeria may become the largest importer of agricultural products in sub-Saharan Africa Bayo Akomolafe

nited States and European Union are competing to dominate the Nigerian market with exports of their agriculture products. It was learnt that EU competes directly with the United States in nearly all categories of agricultural exports to the country. Nigeria constitutes a

half of the 20 billion euros of the EU exports to the West African region and nearly 70 per cent of the imports. It was learnt that Ireland, Netherlands and Denmark are the major exporters of skim milk powder and whole milk powder to the country. Nigeria is in short supply of about 700,000 metric tons of whole milk powder. Other imports from Europe include vegetable fats and oils, prepared edible fats, animal or vegetable waxes, prepared foodstuffs, beverages, spirits and vinegar, tobacco and manufactured tobacco substitutes. According to a data from the US Department of Agriculture, Nigeria’s agricultural imports

had increased by 52 per cent nearly twice as fast as South Africa’s 27 per cent over the last five years. It said: “Dairy, prepared foods, wheat, rice, soya bean, wine and beer, fruits and juice, sugar and condiments and sauces are some of these products exported by the US.” The US agency said that based on current trends, Nigeria would overtake South Africa as the largest importer of agriculture commodities in sub-Saharan Africa, mainly due to its growing market for consumer-oriented goods. While Nigeria’s imports of bulk commodities (mainly wheat and rice) fluctuate greatly, the steadily growing demand

for consumer-oriented goods bodes well for US exporters. Overall, US exports of agricultural products to Nigeria totalled $1.1 billion in 2013, but were increased in 2014 and 2015. The US agency added that Benin serves as a strategic trans-shipment point to Nigeria and other landlocked countries in Mali, Niger, Burkina Faso and Chad, making it a unique importer. It noted that from the $2.2 billion in agricultural exports to Benin in 2015, about $1.7 billion in goods such as rice, poultry products were transshipped to Nigeria, while Benin retained for itself only imports of $426 million.

BUSINESS | MONEYLINE

MONDAY MARCH 28, 2016 NEW TELEGRAPH

Speculation mounts over introduction of dual exchange rate

OPTIMISM CBN is optimistic that the supply of foreign exchange would be improved Stories by Tony Chukwunyem

peculation intensified at the weekend that the Central Bank of Nigeria (CBN) may soon introduce a dual exchange rate regime as part of efforts to address the ongoing exchange rate volatility. The speculation comes on the heels of the statement by the CBN Governor, Mr. Godwin Emefiele, last Tuesday that consultations were on-going with various interest groups on how to improve foreign exchange supply.

The CBN boss, who was addressing the media at the end of the apex bank’s Monetary Policy Committee (MPC) meeting, said, “As soon as we are able to achieve tangible success in this direction we will unfold this to Nigerians. We are hoping that with time the supply of foreign exchange would be improved.” Specifically, Mr. Emefiele who allayed fears by owners of domiciliary accounts that the government planned to confiscate or covert the funds in such accounts for any reason, stated, “The banks will continue to allow domiciliary account holders unfettered access to the funds in their accounts. What we are trying to do is to

make the market open as much as possible and not create further tightening situations that would create problems for the economy.” Even more significantly, The Economist magazine reported in its last week’s edition that given President Muhammadu Buhari’s strong opposition to a devaluation of the naira, some senior members of his party were now pushing for some form of dual exchange rate. However, the publication stated that such a move, “would leave the naira’s official value unchanged, satisfying the President, while legitimizing a parallel market that would supposedly be used for non-essential imports. In practice most

Tight liquidity: Naira set to appreciate against dollar

oreign exchange dealers have predicted that the tightening of liquidity by the Central Bank of Nigeria (CBN) will lead to the naira appreciating slightly against the dollar on the parallel market this week. They however, stated that the official rate will remain steady around the 197.50 level. The naira was quoted at N320 to the dollar on the parallel market last Friday, com-

pared with N326 last week. The President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said, “We see the tightening of liquidity by the central bank curbing speculations on the forex market and reduce pressure on the naira.” At the end of its meeting last Tuesday, the CBN’s Monetary Policy Committee (MPC) had announced a tightening of monetary policy stance by in-

creasing the Monetary Policy Rate (MPR) by 100 bases point from 11 per cent to 12 per cent. It also raised the Cash Reserve Ratio (CRR) from 20 per cent to 22.5 per cent. The CBN Governor, Mr. Godwin Emefiele, said the decision was made following the committee’s concern that the excess liquidity in the banking system was contributing to the current pressure in the foreign exchange market.

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

N19,142,526.05m N18,579,219.49m 11.4 12 10.77 US$49.19 US$27,888,285,805

Mar, 2015 Mar, 2015 Feb, 2016 23/03/2016 Mar 2015 25/3/2016 21/3/2016

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 Tenor (Days) Call 30 90 180

FGN Bonds

TTM

Price 105.09 114.62 112.80 120.23 109.80 100.57 84.13 98.25

1.09 3.26 3.89 5.84 7.97 9.83 14.33 18.32

NIBOR

Rate (%) 13.6300 10.2818 11.8876 13.0042

Bid Yield 10.04 10.57 11.37 11.53 12.24 12.39 12.39 12.39

Change (%) 6.20 ▲ 1.07 ▲ 1.42 ▲ 1.23 ▲

Change (%) -0.44 ▼ -0.20 ▼ -0.15 ▼ -0.20 ▼ -0.16 ▼ -0.13 ▼ -0.13 ▼ -0.13 ▼

Price 105.24 114.92 113.10 120.53 110.10 100.87 84.43 98.55

Tenor (Months)

Offer Yield 9.90 10.47 11.28 11.46 12.18 12.34 12.34 12.34

NITTY

Rate (%) 5.8052 6.1136 7.0476 8.4058 8.5506 10.1010

1 2 3 6 9 12

Treasury Bills

Change (%) -0.44 ▼ -0.20 ▼ -0.14 ▼ -0.20 ▼ -0.16 ▼ -0.13 ▼ -0.13 ▼ -0.13 ▼ Change (%) -0.30 ▼ -0.11 ▼ 0.50 ▲ 0.33 ▲ 0.36 ▲ 1.43 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) Change (%) 7.17 7.30 0.28 ▲ Open-Buy-Back (OBB) 12.75 6.00 ▲ 23-Jun-16 7.42 7.55 0.28 ▲ 22-Sep-16 8.24 7.99 8.32 -0.38 ▼ Overnight (O/N) 13.33 6.00 ▲ 8.59 -0.38 ▼ 16-Mar-17 9.08 9.96 -0.05 ▼ 8.83 9.66 -0.05 ▼

Spot($/N)

Bid 198.45

Offer 198.55

Change (%) 0.00 ↔

NIFEX

Spot($/N)

Bid 199.0000

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

196.00

197.00

0.00 ↔

Offer 199.1000

Change (%) 0.00 ↔

currency flows would soon be made at this new market rate. This solution is far from optimal—the central bank window would be a continued source of corruption and patronage— but better than the status quo.” Similarly, in its 2016 forecast, leading global political risk research and consulting firm, the Eurasia Group, listed the, “Possible introduction of a two-tier exchange rate system and/or further capital controls” among key indicators to look out for Nigeria. In addition, at The Economist Nigerian Summit held in Lagos recently, the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, called for a second

tier foreign exchange window which he said would be accessed by people who need forex to pay school fees for their wards studying abroad, medicals fees and other such requirements. Interestingly, although respected financial analyst and CEO, Financial Derivatives Company (FDC) Limited, Mr. Bismarck Rewane, also forecast that the CBN will attempt a multiple exchange rate regime in the coming weeks, he, however, predicted that the move will be abandoned, “ very quickly because of widespread abuse” adding that, “a new exchange rate band will be adopted supported with additional exchange rate controls.”

Customers laud Sterling Bank’s Global Ranking

he rating of Sterling Bank Plc as one of the top 100 banks in the world, number three in Africa and the Best Bank in Nigeria by Lafferty Group, an international rating Agency, has attracted commendation from customers of the bank who described it as a recognition of excellent service delivery and support for the growth of the Nigerian economy. The rating is based on key quantitative and qualitative criteria such as strategy, culture, customer care, brand promise and financial performance. A cross section of the lender’s customers who spoke with our reporters in Lagos, noted that the rating would further reinforce their confidence in the bank as it has become a major player globally in terms of provision of customer oriented products and quality service delivery. They also noted that the activities of the bank in the Education, Sports, Agriculture, Environment, support to the growth of small businesses to mention a few, may have influenced the high rating of the bank. A customer, who is a major player in the automobile industry but spoke on the basis of anonymity,

noted that the rating of the bank among the top global financial institutions and the best in Nigeria did not come to many as a surprise based on the value the bank has brought to bear on the sustainable growth of businesses owned by their customers. His words: “Since l started banking with Sterling Bank, l have seen a lot of difference in terms of value addition to my business and l was convinced that the Bank will go places. Apart from providing funds, the Bank goes a step further to provide free professional advisory services that is second to none in the industry just to ensure the growth of the their customers’ businesses.” Another customer, who spoke at the Adeola Odeku branch of the Bank, stated that with the rating, Sterling Bank has established the fact that provision of quality services is not about size “but on how resourceful your personnel are and what you can bring to the table to support the growth of your customer’s business. Sterling Bank offers personalized services that you cannot get in most financial institutions in the country and l am happy that this has been recognized by an international rating agency. ”

IMF boosts statisticians

he International Monetary Fund’s (IMF) African Regional Technical Assistance Center (AFRITAC) South, last week held a workshop at the Africa Training Institute in Mauritius on export and import price indices. According to a statement issued by the Fund, the workshop brought together 27 economic statisticians from 12 AFRITAC South countries, including national accounts compilers from

statistical offices and data users from policy-making government institutions and agencies. The objective of the workshop was to broaden participants’ understanding of the theory and practice of compiling export and import price indices. It covered index number theory and its practical implications relating to the choice of index number formula at lower and higher levels of aggregation.

BUSINESS | Movers, Shakers and Appointments

PETAN gets new chair

new chairman has been announced for Petroleum Technology Association of Nigeria (PETAN). A statement made available to New Telegraph said he was elected at the just-concluded yearly general meeting in Port Harcourt. He replaces Emeka Ene, who steered the affairs of the Nigerian oil industry’s oldest association for four years. Okoroafor, according to the statement, was elected alongside Gbolahan Lawal, Secretary; Wole Ogunsanya, assistant secretary; Emmanuel Onyekwena (ex-officio) and Chubby Ibe (ex- Okoroafor officio).

…Julius Berger too

he Board of Directors, Julius Berger Nigeria (JBN) Plc has appointed Mr. Mutiu Sunmonu as Chairman. This, according to a statement from the firm, followed the resignation of AVM Nurudeen Imam. The company’s Head, Media Relations, Mr. Moses Duku, said that the appointment took place during the company’s board meeting. He said: “At the last Board of Directors meeting of Julius Berger Nigeria Plc, AVM (Dr.) Nurudeen Imam (CFR) resigned and Mr. Mutiu Sunmonu was elected and appointed as the new chairman of the board of Directors of the company with effect from April 1, 2016. “The out-going chairman, Imam, has retired as a member and chairman of the Board of Directors to give the younger generation the opportunity to lead and take the company forward into the new millennium.” Sunmonu graduated from the University of Lagos in

Sunmonu

1977 with a first class honours degree in mathematics and computer science. He joined Royal Dutch Shell Plc in 1978. In 1990, he proceeded to Shell UK Expro Aberdeen and was later appointed Manager of Southern Swamp Area. Duku said that the new chairman had pledged to deploy his wealth of experience to work and build upon the worthy foundations and entrepreneurial legacy of his predecessors and take JBN Plc in the right direction. Imam, the out-going chairman, was prior to his appointment, a retired Air Vice Marshal, who served in various service and senior government positions including member of the Armed Forces Ruling Council and minister of mines, power and steel. He had been on the Board of Directors of Julius Berger Nigeria Plc since 1999, and became the chairman of the Board of Directors since 2008.

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

Online firm appoints acting CEO

ingier Africa Deals Group (RADG), a newly-founded joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Limited has appointed Etop Ikpe as acting CEO of RADG, a new company acquired by one of Nigeria’s biggest online shopping platforms, DealDey. In the new arrangement, Mr. Kehinde Oriola, according to a statement, will continue as the CEO of DealDey as part of RADG, while Damien Bonnabel, current head of e-commerce for Ringier Africa and general manager of Ringier Kenya, will be working with the management of DealDey and the group’s other companies. The deal will see the two companies invest significantly in Nigeria’s fast-growing multi-billion dollar e-commerce sector as part of their partnership in the Ringier Africa Deals Group and will be a significant turning point in Africa’s investment landscape. Speaking on the acquisition, DealDey Co-CEOs, Kehinde Oriola & Etop Ikpe said: “The DealDey team is excited about joining forces with the newly-formed Ringier Africa Deals Group. It offers great opportunities, as DealDey brings a wealth of experience in technology, merchant management and consumer behaviour in Nigeria and we will be leveraging the Ringier Africa portfolio in marketing, classifieds and media as well as Silvertree’s e-commerce expertise towards supporting the sustainable growth of the group.”

Oriola

Otudeko wins Africa’s best chief executive

he Chairman of Honeywell Group, Oba Otudeko, has emerged the Africa Chief Executive of the Year (2016). A statement made available to New Telegraph, said Otudeko beat seven other finalists, including Africa’s richest man, Alhaji Aliko Dangote, to clinch the coveted prize at a meeting of more than 800 chief executives across the continent held in Abidjan, the capital of Cote d’Ivoire. Otudeko and Dangote were the only Nigerians listed among the eight top contenders for the coveted Africa CEO of The Year Award. Apart from the Honeywell Group, Otudeko also chairs the First Bank of Nigeria (FBN) Holdings Plc. He was, at various times, Chairman, First Bank of Nigeria, FBN Bank (UK) Limited, Airtel Nigeria and Fan Milk of Nigeria Plc. He has also served on the boards of Central Bank of Nigeria (1990 – 1997), Guinness Nigeria Plc (1999 – 2003), British American Tobacco Ltd (2001 – 2004) and Ecobank Transnational Incorporated, headquartered in the Togolese capital of Lome (2002 – 2010). Otudeko, a chartered banker and corporate secretary, was the 16th President and Chairman of Council of the Nigerian Stock Exchange (NSE) between September 2006 and August 2009. Also, four Nigerian firms: Seplat Petroleum, Dangote Group, Guaranty Trust Bank and Zenith Bank, were on the list of finalists for prizes in the six-category award session of the yearly conference

of the Africa CEO Forum. Other categories were African Company of the Year, where Nigeria’s Dangote Group and Seplat are listed. The six prizes were announced in the presence of the President of the African Development Bank (AfDB), Akinwumi Adesina. The forum rewards Africa’s best chief executive officers, companies and investors whose strategies have contributed significantly to the economic growth of the continent.

Otudeko

Set up in partnership with the AfDB, the Africa CEO forum is an event organised jointly by Groupe Jeune Afrique, publisher of Jeune Afriqueand The Africa Report and Rainbow Unlimited, a Swiss company specialising in organising economic promotion events. The organisers of the yearly event explained that Otudeko had, over the years, spurred economic growth in Africa by transforming the business landscape with legacy projects.

BUSINESS |Stock Watch

MONDAY MARCH 28, 2016 NEW TELEGRAPH

Sterling Bank: Growth in efficiency raises earnings The regulatory headwinds in the banking industry and the lull in the Nigerian economy have negatively impacted affected lenders’ earnings. CHRIS UGWU writes that Sterling Bank has turned these challenges into opportunities

he Nigerian economy has continued to face several challenges. The most prominent is substantial decline in the prices of oil at the international markets, which has significantly reduced the nation’s revenue and foreign exchange earnings. These have put tremendous pressure on both the nation’s exchange rate and foreign reserves. Local manufacturers desirous of foreign exchange for importation of their inputs cannot afford the unofficial exchange rate and many have had sack staff and close shops. Customers of banks that have been granted dollar-denominated loans on the other hand, can no longer service their debts, while lenders have also had to restructure the foreign loans. Added to these are the regulatory headwinds that have reduced banks’ earnings. Besides, expectations by some market watchers last year that the peaceful general elections and subsequent smooth hand over to the new government would drive investors’ optimism to galvanise the financial sector became a mirage due to lack of policy direction. Market analysts said investors especially foreigners remained on sideline since there was no clear picture of the policy direction of the government. These microeconomic pressures and unrelenting regulatory adjustments have to a large extent constrained the margins of financial institutions in the country. However, in a year characterized by contrasting global economic performance and a domestic banking sector constrained by regulatory headwinds and microeconomic pressures, Sterling Bank Plc remained resilient, registering impressive performance across its business lines. Notwithstanding that 2015 was another challenging year for the banking industry with some banks including First Bank issuing profit warnings due to anticipated material decline in its profits, the Sterling Bank was able to exploit the opportunities within the environment, as a review of the 2015 full year results showed positive performance across all financial indices. Investors’ confidence was seen to be reengineered on the back of

Adeola

significant results released to the investment community and hope that the bank’s improvement in operating efficiency would help the management reinforce its statutory business to unlock better potentials. Financials Sterling Bank Plc sustained its resilient performance in 2014, as top-line and bottom-line earnings showed considerable growths with an increase of 15.4 per cent in profit before tax to N10.7 billion. The lender began the year 2015 with good numbers with a 25 per cent increase in its profit after tax for the first quarter ended March 31st, 2015, demonstrating the bank’s ability to sustain its growth in spite of industry headwinds. According to key extracts of the results released at the Nigerian Stock Exchange (NSE), which showed appreciable growth in all key performance indices, the bank’s profit after tax leapt from N3.1 billion to N3.9 billion yearon-year. Similarly, pre-tax profit rose by 14.1 per cent from N3.5 billion to N4.0 billion, while non-interest income grew by 31.9 per cent from N6.1 billon to N8.0 billion, driven by a 51 per cent growth in fees and commission, which rose to N5 billion. In the same breadth, net operating income inched up by 6.1 per cent from N15.3 billion to N16.2 billion on the back of a growth in non-interest income and a 10.4 per cent reduction in impairment

Our 2015 performance offered a clear validation of the underlying resilience of our business model

Sterling Bank Plc.

interest margin to 48.9 per cent.

2015

Profit drivers Commenting on the financial results, the Managing Director/ Chief Executive, Mr. Yemi Adeola said: “We sustained our performance from the previous year driven by an improvement in operating efficiency. Cost-toIncome Ratio improved by 140 basis points to 72.2 per cent, Capital Adequacy Ratio stood at a record high of 17.5 per cent, while liquidity buffers remained strong as the bank grew its after tax profit by 14.3 per cent. “Clearly, our 2015 performance offered a clear validation of the underlying resilience of our business model. The very challenging operating environment notwithstanding, we managed to and continue to maintain a delicate balance between delivering on near term goals and laying the foundation for the future that we see - one where our customers enjoy the experiences that we create together, which in turn becomes the basis for our long term profitability. “Asset quality remained resilient with Non-Performing Loans (NPL) below the maximum regulatory threshold of 5 per cent despite a significant reduction in the loan book, arising from the replacement of state government loans with federal government bonds. We also maintained a very liquid balance sheet position despite the implementation of the Treasury Single Account (TSA) by the FGN. This outcome reflects some initial progress with the retail funding strategy and further supports the material investments that we are making in this area.”

April 30

N2.29

May 31

N2.11

June 30

N2.00

July 31

N2.05

August 31

N2.13

September 30

N2.13

October 30

N2.05

November 31

N1.99

December 31

N1.83

January 29

N1.70

February 29

N1.76

March 24

N1.70

charges. The bank sustained its stellar performance in half year 2015, as top-line and bottom-line earnings showed impressive growth. Major highlights of the account showed that gross earnings rose by 12 per cent to N55 billion. This was driven by a 32.2 per cent increase in non-interest income to N15.2 billion from N11.4 billion reported in the corresponding period of 2014. Similarly, profit after tax rose by 6.9 per cent to N5.4 billion during the period under review from N5.1 billion recorded a year earlier. The nine-month report for the period ended September 30, 2015 showed that the commercial bank also remained consistent in its growth strategy against macroeconomic and industry headwinds with gross earnings and net income rising by 12 per cent and 6.9 per cent respectively. Key extracts from the earnings report showed gross earnings of N82 billion in the third quarter of 2015 compared with N73.1 billion recorded in the corresponding period of 2014. Non-interest income grew by 13.3 per cent from N18.1 billion in 2014 to N20.5 billion in the period under review. Profit after tax rose by N400 million to N7.5 billion in the third quarter 2015, as against N7.1 billion recorded in the corresponding period of 2014. In spite of the regulatory headwinds and downturn in the Nigerian economy, Sterling Bank recorded growth in virtually all its performance indicators for the year ended December 31, 2015, pushing up profit before tax by 2.5 per cent to N11.0 billion. Correspondingly, profit after tax rose by some 14.3 per cent to N10.3 billion due to a higher retention of organic capital compared to the previous period. Non-interest income grew by 13.7 per cent from N25.7 billion in 2014 to N29.3 billion largely due to a 57 per cent increase in trading income. Confirming the efficiency of the lender’s management, operating expenses decreased by 1.9 per cent from N50.6 billion to N49.7 billion. Net interest income however, declined by 8.1 per cent from N43.0 billion to N39.5 billion, driven by a 18.5 per cent increase in interest expense, resulting in a 630 basis points reduction in net

Looking ahead Commenting on the outlook for the 2016, Adeola said that the bank was of the view that the current macro-economic challenges present their own opportunities for agile and dynamic operators. “We recognise that re-structuring of the sort that the current Federal Administration is pursuing takes time but like many other Nigerian businesses, we view the pursuit of economic self-reliance as commendable. “Consequently, we remain optimistic for the future but are not under any illusion that the near term operating environment would be more favorable as we expect some policy volatility in the course of the year. There is clearly ‘a new normal’ and the future will belong to those who can develop new competences even while retaining the core strengths that have led them to success in the past. Our desire is to make Sterling Bank one of those,” he said. Conclusion 2015 has been a difficult year in many respects for the Nigerian banking industry, as the multiple challenges arising from a weaker macroeconomic environment and the various regulatory responses put significant pressure on the margins of banks. However Sterling Bank has been able to weathered the storm.

30 TRAGEDIES Building collapse and fire outbreaks have visited so much misfortune on Nigerians without commensurate compensation

MONDAY, FEBRUARY 28, 2016 NEW TELEGRAPH

Insurance Revisiting Compulsory Insurance benefits amid serial disasters

Stories by Sunday Ojeme

n the last couple of years, stakeholders in Nigeria’s insurance sector have continuously reminded the public and even the government on the need to key into the provisions of Compulsory Insurance meant to cushion the effect of material and human losses. The renewed campaign is predicated on the series of disasters that have been taking place in the country, the recent one being the collapse of a five storey building in the Lekki area of Lagos that killed 34 people. Ordinarily, under the insurance law, workers at the site were supposed to be covered in the event of death or disability, but that has not been the case in Nigeria due to poor awareness and the inability of those responsible to enforce the law. Realising the immense benefits encapsulated in the law, Ogun State Governor, Ibikunle Amosun, two weeks ago, also joined the campaign for Nigerians to take insurance seriously. Amosun, who made the declaration while playing host to the commissioner for Insurance, Mohammed Kari, lamented the attitude of Nigerians towards insurance that should be both a pillar of protection and mechanism to recoup losses. Amosun said: “We need to beef up the contribution of the insurance sector to the nation’s economy. We have not taken full advantage of the insurance sector in Nigeria. “Nigeria is not bereft of ideas. The problem is that of implementation. For instance, we need to stop fake insurance policies in circulation. It will be in the best interest of the nation. NAICOM needs to enforce the laws appropriately.” Compulsory Insurance makes provisions for Nigerians to enjoy cover in areas like Builders Liability – under the Insurance Act 2003, Employers Liability (Group Life) under the Pension Reform Act 2014; Healthcare Professional Indemnity – under the NHIS Act 1999, Motor Third Party Liability and Builders Liability Insurance. In this case, owners or contractors of buildings (of more than two floors) under construction must purchase or provide compensation in event of bodily injury, death, and property damage to workers at construction sites and affected members of the public in the event of the collapse of the building, and other construction risks. The penalty for noncompliance is N250,000 plus three years imprisonment.

Uninsured collapsed building that killed over 30 people in Lagos.

A record of conviction, sealing, and demolition of the building are the penalties provided under the federal and Lagos State laws. Under the Occupiers Liability Insurance, all owners or occupiers of public buildings, whether private or public, are required to provide the National Insurance Act 2003 and the Lagos State Building Control Law 2010. A public building is any building that is not 100 per cent used by the owner for residential purposes. Public buildings include tenement houses, hostels, residential buildings occupied by tenants, lodgers or licensees, and any other building to which members of the public enter and exit for the purpose of educational, recreational, or medical services (for instance schools, cinemas, hospitals, malls, petrol stations, etc). The Occupiers Liability Insurance provides compensation in events of bodily injury, death, and property damage to the business users and members of the public in the event of building collapse, fire, earthquakes, storm or flood. The penalty for non-compliance is N100,000 plus one year imprisonment, and sealing or demolition of the building under the federal and the Lagos State laws. The Employers’ Liability (Group Life) Insurance ensures that all employers of labour with more than four employees are required to have the Pension Reform Act 2004. The law requires the employers have insurance that will provide for compensation in the event of death, disappearance, disability, or critical illness suffered by their staff while in service and to subsidise the pension provision in the event of mental or physical disability. The law applies to both public and private sector employees and means that employees

(and their families) have the right to demand for compensation and payment from their employers in the event of injury or death. The penalty for non-compliance with this law is N250,000, record of conviction, and in addition the place of business may be sealed. The Healthcare Professional Indemnity Insurance provides that all licenced health care providers and medical practitioners (such as doctors, nurses, pharmacists, etc) are required to have the National Health Insurance Scheme (NHIS) 1999. The law protects patients in case of accidents or fatalities (death) resulting from professional negligence. It makes compensation available to patients and their relatives in the event of involuntary murder, disability, shock, and injury suffered by patients as a result of the negligence of health care providers. The penalty for non-compliance with this law is a possible revocation of licence by the National Health Insurance Council, a record of conviction, and sealing of the premises. The Third Party Motor Liability Insurance stipulates

that all owners and drivers of motor vehicles, motorcycles, and special type vehicles plying the Nigerian roads are required to have the National Insurance Act 2003. The third party motor liability insures the vehicle against liability to death, bodily injury, or damage to the property of a third party arising from the use of the vehicle. The penalty for non-compliance is a fine of up to N250,000 plus one year imprisonment. On his plans to further expand the industry across states, Kari said he was currently persuading state governments across the nation on the need for compliance to the provisions in Compulsory Insurances. He said that compliance and enforcement of the compulsory insurances was key to promoting insurance adoption, acceptance and profitability. As part of plans to enforce the Market Development and Restructuring Initiative (MDRI), he said the commission was partnering with relevant agencies as well as state governments to ensure that public assets are valued, as-

sessed and insured. He said: “We have taken the campaign to state governments to see how we can enforce compulsory insurances. Doing this at the state level will open up several opportunities that will be to the benefit of the states as well as the insurance industry.” He noted that discussions were already going on with some state governments on the need to adopt compulsory insurances, adding that the commission would extend such crusade to other states of the federation, as this would ensure that the motive of the MDRI is achieved. “Our motive is to ensure that all the 36 states, including the Federal Capital Territory (FCT) comply with these insurances,” he stressed. Kari added that the commission is equally discussing with insurance market operators, to see how the industry can be expanded using other additional channels to sell insurance products and services, noting that all stakeholders were seriously working to deepen insurance market in a bid to contribute more to economic growth of the country.

PTAD assures pensioners on 33% arrears

he management of Pension Transitional Arrangement Directorate (PTAD) has assured pensioners of payment of the 33 per cent arrears and other benefits to Next of Kin (NOKs) of deceased pensioners in the very near future. The assurance came during a meeting between the management of PTAD and representatives of the National Union of Pensioners (NUP), National Association of Retired Paramilitary Officers (NARPO), Association

of Retired Police Officers of Nigeria (ARPON) and the Association of Public Service Retirees last week in Abuja. A statement signed by Head of Communications, PTAD, Theodora Ameachi, said details of the 33 per cent arrears payment were to be agreed with the various pension groups before payment. The statement also quoted the acting director-general of the agency of reassuring the unions’ representatives that the Federal Government recognised its obligation to pensioners.

He apologised for any delays pensioners may experience in the course of complaint resolution, stressing that “it is a process we have to undergo for things to be done correctly to enable PTAD pay the right persons.” The management reiterated that PTAD was working hard to resolve all complaints and other issues affecting their members, saying “our doors are always open for the resolution of complaints and communication between PTAD and our pensioners and other stakeholders.”

BUSINESS | Insurance

MONDAY MARCH 28, 2016 NEW TELEGRAPH

IDLE A section of the public especially in government circle believed that the over N5 trillion assets had been idle Stories by Sunday Ojeme

he National Pension Commission (PenCom) has given details of the pension assets investment. The fund, which stood at N5.21 trillion as at November 2015, has the Federal Government’s se-

CPS: FG, state securities gulp 70% of funds’ investment curities getting the lion share of N3.49 trillion, amounting to 66.41 per cent. The details published on the commission’s website revealed that N505.71 billion, amounting to 9.97 per cent, was invested in domestic ordinary shares and N69.10 billion (1.35 per cent) in foreign ordinary shares. Federal Government of Nigeria securities got N3.49 trillion (66.41 per cent) with Bonds taking N2.95 trillion (56 per cent) and treasury bills

N480.26 billion (10 per cent). State government securities got N157.13 billion (3.14 per cent); corporate debt securities, N179.45 billion (3.04 per cent); supranational bonds, N12.69 billion (0.22 per cent); local money market securities, 516.18 billion (10.39 per cent); foreign money market securities, N645 million (0.01 per cent); open/ closed end fund, N19.36 billion 0.42 per cent. Real estate properties got N231.25 billion (4.52

per cent); private equities funds, N13.43 billion (0.34 per cent); infrastructure funds, N1.40 billion (0.02 per cent); cash and other assets, N58.71 billion (0.70 per cent) and other liabilities, N38.02 billion (0.52 per cent). Director-General PenCom, Mrs Chinelo Anohu-Amazu, said the present assets placed at over N5.31 trillion are not idle in any bank account as alleged by those who do not understand the working of the Contributory Pension Scheme (CPS).

She noted that all pension funds are invested according to the industry’s investment guidelines, stressing that the industry’s investment guidelines specified how the funds are to be invested. She said some investors do not get funds from the industry because they fail to meet the requirements in the guidelines. She said the industry is willing to investment in infrastructure and other projects, but the terms

Director General, PenCom, Mrs. Chinelo AnohuAmazu (fifth from left) and others, during the opening of the London Stock Exchange market at the inaugural meeting of the LSE Africa Advisory Group in London.

NAICOM approves 2015 financial account for 7 underwriters

he National Insurance Commission (NAICOM) has approved the 2015 financial accounts of seven insurance companies. The Director Supervision, Mr Nicolas Opara, while disclosing this, also said that the commission had so far received a total of 12 accounts with seven approvals. Out of the figure, two accounts have been reviewed and queried while three others have received by the commission. On the penalty to be

fter three days of protests by National Insurance Commission (NAICOM) workers last week, a new lease of life has been breathed into the agency as the workers and management resolved to put the problems behind them. The workers had made some allegation that bor-

meted out to companies that fail to meet the June 30 deadline, he said it would attract the stipulated fine of N5,000 per day. Also the Director Research, Statistics and IT, Adamu Balanti said that the commission has set June 2016 deadline for the takeoff of the issuance of identification numbers to insurance policies and also launch its portal that would warehouse the industry’s data. According to him the unique policy identification system is to moni-

tor and capture every single insurance policy issued by underwriters in the country. He said: “This system is to build an integration point for the various stakeholders involved in insurance policy issuance. Generate and provide a unique identification number for every policy issued, in order to track and provide relevant statistics on them. “It would help develop a capacity in NAICOM to record all policies issued by Nigerian insurance companies.

Ensure proper accountability of all premium returns by insurance companies, capture all businesses done by every broker through the underwriter, ensure proper accountability of all insurance levies received from brokers, provide easy access to data regarding policies issued and support analysis and policy based decision making. “We want to identify each individual insurance policy issued in the country; this is why we are developing,

what we called – Unique Policy Identifier (UPI). With it, each insurance policy document issue in the country will have a unique identification number. The Unique number will be used to identify that document. “We are also developing a database of that identification number, so that anybody in the country can query the database to confirm if the policy document before him or her is genuine or not. We are hoping that in the next few years, we will get it out.”

…as management, workers mend fences dered on indifference to their welfare by the management, and also called on the Presidency to wade into the matter. The matter was, however, resolved with both parties entering into an agreement to sort out perceived grievances. The workers under the aegis of Amalgamated

Union of Public Corporations, Civil Service Technical and Recreational Service Employees (AUPCTRE) shut down the premise of the commission and called on the President, Muhammadu Buhari to checkmate the excesses of the executive management. According to AUPC-

TRE chairman, NAICOM chapter, Comrade Ibrahim Abdulateef, alleged gross mismanagement of the Commission’s fund by executive management of the Commission. He also mentioned other grievances of the workers against the commission to include

non-adherence to government circulars and financial regulations, lack of transparency in staff recruitment and promotions, non-provision of working tools, failure to conduct 2015 promotion exams, refusal to release 2014 promotion letters among some others irregularities.

and conditions spelt out in the investment guidelines must be strictly adhered to. She maintained that the commission and pension operators would not bend the rules to please anybody. The PenCom boss urged those agitating for the deployment of pension funds to understand that the funds are held in trust for workers who definitely get their contributions at retirement, hence all investment are done with the workers in mind.

Insurer honours agents for outstanding performance

BNInsurance Limited, an FBN Holdings company associated with the Sanlam Group South Africa, has rewarded outstanding financial advisors, sales managers and senior sales managers at its annual retail awards. The Head, Retail Distribution, FBNInsurance Limited, Dr Odinakachi Umekwe, at the event, who commended the board and management of the company for their continuous support, also congratulated the team for a successful and rewarding 2015. He also used the opportunity to encourage the winners not to relent on their oars, but to keep striving for better performance which will ultimately lead to better rewards. “They say the reward for hard work is more work. For us at FBNInsurance, when you work hard enough, you will be rewarded as you can see today with our overall winner (Financial Advisor’s Category) who will drive home in a brand new Hyundai Accent,” he said. While presenting the overall winner, Iyogwoya Roseline Pius, with the keys to a brand new Hyundai Accent, the Managing Director, FBNInsurance Limited, Valentine Ojumah, paid glowing tributes to the Retail team. “You guys pay our salaries. Without a virile Retail team, we won’t be where we are today. Thank you for a job well done. But we still have work to do. Insurance penetration is still very low in this part of the world, let’s go out there and do more. There is much more to be done.”

BUSINESS | Financial Market News

MONDAY, MARCH 28, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

24-Mar-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)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 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 12.40

581.39 480.13 20.00 100.00 300.00 351.30 233.90 556.93 605.31 719.99 155.84 75.00 150.00 200.00 591.57 1075.92 40.00

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

0.40 1.09 1.34 1.44 2.18 3.26 3.58 3.89 5.84 7.97 9.83 12.68 13.16 13.66 14.33 18.32 19.98

8.20 10.04 10.06 10.13 10.35 10.57 11.09 11.37 11.53 12.24 12.39 12.81 12.80 12.78 12.39 12.39 12.65

7.82 9.90 9.94 10.02 10.27 10.47 10.97 11.28 11.46 12.18 12.34 12.77 12.75 12.72 12.34 12.34 12.61

101.83 105.09 99.72 98.97 100.64 114.62 88.17 112.80 120.23 109.80 100.57 113.48 98.02 72.64 84.13 98.25 98.19

101.98 105.24 99.87 99.12 100.79 114.92 88.47 113.10 120.53 110.10 100.87 113.78 98.32 72.94 84.43 98.55 98.49

TOTAL OUTSTANDING VALUE

6,237.28

TOTAL MARKET CAPITALISATION

6,417.50

Rating/Agency

Description

Issuer

6192.277269

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

0.60

2.94

11.79

103.11

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

0.27 0.27 1.07 0.79 1.77 1.36 1.38 1.56 1.57 1.75 1.97 3.66 2.14 4.68 4.77 2.81 2.83 3.97 3.62 3.64 4.03 6.46 3.74

4.46 3.48 1.00 5.71 3.21 1.00 1.00 3.82 3.56 1.00 2.02 1.98 4.35 1.30 3.76 3.76 1.00 1.52 3.67 1.00 2.52 1.79 3.04

12.17 11.19 10.85 15.01 13.46 11.08 11.09 14.02 13.76 11.24 12.32 13.16 14.69 12.94 15.40 14.27 11.52 12.42 14.80 12.16 13.62 13.59 14.32

100.37 101.02 99.15 99.04 100.77 103.51 103.52 100.58 100.27 106.43 105.22 103.73 100.10 101.88 98.60 100.43 107.88 107.92 104.38 111.96 110.20 113.70 107.13

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

0.52 0.59 0.71 1.07 1.28 1.52 0.97 1.04 1.46 1.46 2.52 1.32 1.65 1.77 2.37 4.64 3.14 5.66 5.77 6.13 4.31 8.52 8.52 9.65

1.00 1.34 1.00 6.96 6.41 2.36 1.88 3.15 6.35 1.00 1.17 6.17 6.11 3.28 4.47 1.00 3.55 2.48 1.00 4.63 2.77 1.00 1.00 1.00

9.64 10.15 10.09 16.81 16.42 12.55 11.61 12.98 16.50 11.15 11.60 16.21 16.33 13.53 14.87 12.64 14.23 14.21 12.75 16.49 14.39 13.81 13.81 13.91

101.64 102.26 103.89 99.67 100.01 100.60 106.41 102.77 101.78 106.23 105.10 99.43 102.24 103.68 100.21 108.93 102.99 100.11 114.74 99.91 104.84 112.22 97.26 104.95

10-Oct-20

2.57

3.37

13.82

101.89

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.20

TOTAL MARKET CAPITALISATION

1.24

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 27.25 4.91 10.98 8.14 21.68 13.87 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

451.93 465.36

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 4.50 1.82 0.50 35.00 1.80 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

539.73

TOTAL MARKET CAPITALISATION

551.85

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

9.77

TOTAL OUTSTANDING VALUE

9.77

TOTAL MARKET CAPITALISATION

9.95

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.89

1.00

9.51

101.15

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.11

1.00

10.60

101.64

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 25.30 Description

Issuer

Issue Date

Outstanding Value ($’mm)

Coupon (%)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.82

7.54

95.74

96.83

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

6.01

5.58

98.13

99.03

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.98

7.78

91.26

92.28

99.31

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,425.67

Corporate Eurobonds B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

373.41

19-May-16

12.32

99.31

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

9.45

97.31

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

19.78

18.60

78.57

80.26

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.39

94.50

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.47

91.60

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

15.49

14.24

83.68

86.43

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

13.32 13.83 14.69

83.10 83.00 75.28

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 3,082.71 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

12.41

12.24

Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

04-Nov-15

13.75

2.77

29-Jul-16

127

6.18

14.19

13.53

TOTAL OUTSTANDING VALUE

10.00

**TREASURY BILLS^ DTM 7 14 21 28 35 42 56 63

FIXINGS Maturity 31-Mar-16 7-Apr-16 14-Apr-16 21-Apr-16 28-Apr-16 5-May-16 19-May-16 26-May-16

Bid Discount (%) 5.09 6.13 5.46 5.94 5.20 6.56 6.70 5.44

Offer Discount (%) 4.84 5.88 5.21 5.69 4.95 6.31 6.45 5.19

Bid Yield (%) 5.09 6.14 5.47 5.97 5.23 6.61 6.76 5.49

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 13.6300 10.2818 11.8876 13.0042

Tenor

Rate (%)

OBB

12.75

O/N

13.33

Tenor Call 1M

REPO

Rate (%) 14.00 12.50

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

198.45 199.12 199.78 200.66 201.16 205.59

198.55 199.63 200.10 201.00 201.58 206.13

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

NA MONDAY MARCH 28, 2016 NEW TELEGRAPH

Investors traded shares worth N10.453 billion in Issuer Description Rating/Agency Similarly, all other Indices 14,994 deals finished lower last the week, Agency Bonds

TOTAL MARKET CAPITALISATION

FMBN

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Sub-National Bonds

Stories By Chris Ugwu 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

he equities market closed last week on a positive note, as the Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalisation appreciated by 0.80 per cent to close at 25,899.91 and N8.909 trillion respectively. Consequently, the stock market Year-to-Date (YTD) returns currentlyVALUE stood at -9.57 TOTAL OUTSTANDING TOTAL MARKET CAPITALISATION per cent.

II 03-APR-2017 with17.25 theFMBexception of the NSE Main Board Index, NSE 30 Index, NSE Banking Index and the NSE Consumer Goods In14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 dex that increased 10.00 LAGOS 19-APR-2017 by 1.68 per BAYELSA 30-JUN-2017 cent,13.75 1.47 per cent, 1.37 per cent 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 and 4.96 per cent respectively. 14.00 NIGER II 4-OCT-2018 EKITI a 09-DEC-2018 It 14.50 was four-day trading 14.00 NIGER III 12-DEC-2018 week, as the Federal Govern15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 ment declared 14.50 of LAGOSNigeria 22-NOV-2019 14.75 OSUN 12-DEC-2019 March 25 and 28, 2016, as Pub13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 lic Holidays to commemorate 14.50 EKITI II 31-DEC-2020 “Good Friday” and “Easter” 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI 9-DEC-2021 celebrations. 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 Meanwhile, a turnover of 17.50 PLATEAU 30-MAR-2022 KOGI II 31-MAR-2022 1.55217.00 billion shares worth 17.00 CROSS RIVER 27-MAY-2022 N10.453 billion in 14,994 deals were traded last week by in-