New telegraph monday, may 2, 2016 by Newtelegraphonline

Air Force refunds N19.44bn to Stabilisation Account

Abdulwahab Isa Abuja

he Nigeria Air Force (NAF) has paid back N19.44 billion to the Stabilisa-

tion Account, the sum it borrowed to fund some of its key operations, New Telegraph has learnt. The Air Force repaid both the principal amount and accruing interest in three instalments, a docu-

ment sighted yesterday by this newspaper revealed. The document was, however, silent on purposes the funds were put to use and dates they were secured. But a source familiar

with the Nigeria Air Force operations, said that the larger part of the funds might have been deployed to acquiring hardware to aid in dislodging insurgent activities in the NorthEast.

The repayments were in three tranches; N9.5 billion, N7.9 billion and N2.04 billion. A serving Commissioner with the Revenue Mobilisation Allocation and Fiscal Commission

(RMAFC), who was privy to the repayments, had reportedly informed members of Federation Account Allocation Committee (FAAC) at their last meeting in Abuja. CONTINUED ON PAGE 4

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Monday, May 2, 2016

Aggrieved PDP members move to stop convention }4

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Vol. 3 No. 803

Sheriff

Assassination attempt: Deputy governor lied –Edo govt }40

Odubu

Cultists kill 19 in Rivers villages }9

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Bamidele

May Day:

Workers lament poor welfare, unpaid salaries lDeputy gov booed in Benue lOndo civil servants boycott celebration lLabour leaders decry Buhari’s absence at rally lGovs shun rallies }2, 6, 7

Plateau State teachers displaying four fingers indicating nonpayment of four months salaries during the May Day rally in Jos…yesterday.

Sultan: Don't blame herdsmen for Agatu, Enugu killings lPro-Biafra group berates Northern governors

Insufficient sleep damages the heart –Study }10

NEWS

MONday, May 2, 2016 NEW TELEGRAPH

Workers lament poor welfare, unpaid salaries Ibraheem Musa, Cephas Iorhemen, Babatope Okeowo, Cajetan Mmuta and Ibrahim Abdul

housands of civil servants and local government workers in most states of the federation yesterday bemoaned their fate over unpaid salaries and poor welfare scheme.

In most of the states, the workers turned the May Day celebration into lamentations. The International Workers' Day was borne out of the struggle for improved workers' rights and better working conditions. But as at today, no fewer than 15 states owed their workers arrears of salaries despite over N600 billion-bailout fund made

available to the states by the Federal Government. Apart from states such as Lagos, Akwa Ibom, Anambra, Sokoto, Ebonyi, Cross River, Gombe, Jigawa, Niger, Zamfara, Ogun, Kebbi, Rivers, Kano and Nasarawa, most other states of the federation are owing workers’ salaries between one and six months. Even the oil-producing states of Ondo, Imo, Abia,

Bayelsa and Delta owe thousands of their workforce arrears of salaries. Worst hit are civil servants in Osun, Oyo, Ekiti, Plateau, Taraba and Benue. Across the states, most governors shunned the May Day celebration. Workers under the auspices of Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) in Ondo State yes-

L-R: President, Nigeria Labour Congress (NLC), Ayuba Wabba; Minister of Labour and Employment, Chris Ngige and President, Trade Union Congress (TUC), Boboi Kaigama, at the May Day rally in Abuja...yesterday.

PHOTO: Elijah Olaluyi

terday cancelled the May Day celebration. They blamed the development on the nonpayment of their salaries running into five months. Civil servants in the state have not been paid since December 2015 while the employees at the local government and pensioners are being owed January, February, March and April. The non-payment of salaries has made many workers to skip offices while teachers of both primary and secondary schools have become absentees. The workers said they would opt for fasting and prayers instead of the usual fanfare that usually characterised such celebration. They, however, said the fasting is not new, as they could not afford to feed their families. The state chairman of NLC, Bosede Daramola, who confirmed the boycott, said the harsh economic reality and the non-payment of salaries made them to cancel the usual celebration.

Labour leaders decry Buhari’s absence at rally Yekeen Nurudeen Abuja

ontrary to the expectations of thousands of Nigerian workers who thronged the Eagle Square, Abuja to mark this year's May Day celebration, President Muhammadu, who was expected to grace the event as the Guest of Honour was conspicuously absent. Some of the labour leaders who spoke with journalists on the sidelines of the occasion described the action of the president as disappointing. Not even the presence of the Minister of Labour and Employment, Dr. Chris Ngige, at the event could assuage the feelings of the workers over the president's absence. Deputy President, Nigeria Labour Congress (NLC) and Chairman 2016 May Day celebration, Peter Adeyemi, stated that it was disappointing for Buhari to scorn the opportunity to show gratitude to the Nigerian workers who formed the bulk of the people that voted for him. He noted: "I am very disappointed about the absence of Mr. President at this occasion. I am extremely disappointed in the sense that the bulk of those who craved for change, the positive change that contributed towards his being voted into the office, are the Ni-

gerian workers. "While he was still campaigning to be made the president of this country, he had the time to attend the delegates’ conference of the NLC. It is, therefore, worrisome that the first major Workers' Day after his election into office, he didn't have time to be physically present. It means he played politics with the Nigerian workers. “Buhari sought our mandate because he needed it at that time, but after he had got, he didn't think that we are important. I am very disappointed." Also, Deputy Secretary General, Medical and Health Workers’ Union, Baba Ayebola, said the action of Mr. President was a reflection of the behaviour of the ruling class. "The action of Mr. President shows the true reflection of any section of the ruling class. When they need us, they will look for us. After that, they see us as mere cannon fodders that can be used for their programmes and policies." In the same vein, the president, Nigerian Union of Local Government Employees (NULGE), Ibrahim Khaleel, lamented that the president missed the opportunity to get standing ovation from the Nigerian workers by his absence. Khaleel said: "I am terribly disappointed. When I woke this morning and started preparing for this May Day, I was so sure that

President Buhari would grace the occasion considering the huge support he got in the 2015 general elections. "The hope of Nigerian workers was dashed by his failure to be at the event.” Meanwhile, the absence of the president did not diminish the status of the occasion, as speakers after speakers who took to the podium commented on the economic policies of government, corruption and other pressing national issues. NLC President, Ayuba Wabba, in his speech, commended the present administration for its efforts in tackling the issues of corruption, insurgency, inadequate power, shortage of petroleum products and the dwindling fortunes of the nation's education sector. Wabba warned that the war against insurgency could not be said to have been successfully fought without the rescue of over 200 abducted Chibok girls and the reintegration of the internally displaced persons. In particular, Wabba urged the President to come up with a marshal plan for the reconstruction of the devastated infrastructure of the geo-political zone, which is the hot bed of the insurgents. He also expressed the readiness of the congress to engage the Buhari administration on how it would deliver on its prom-

ise of creating three million jobs annually. His words: "The ruling APC government, in its manifestos, promised to create three million jobs annually. We have waited one year for the government to bring out its blueprints on how it intends to go about achieving this. “Congress will seek audience with Mr. President to get more information on this important matter. On our part as workers, we will be prepared and willing to contribute to any effort to create a 'Job Creation Fund' nationally to tackle this problem." He said congress is eagerly waiting for government to kick-start the negotiation process on the N56,000 proposal as new minimum wage. According to him, the proposal is in line with the National Minimum Wage Act, which stipulates a five-year re-opener clause for a new negotiation. In his address, the President, Trade Union Congress (TUC), Bobboi Kaigama, lamented the long years of pillage of the nation's resources by a greedy few. While commenting on the theme of this year’s May Day celebration, “The Working Class and the Quest for Socio-Economic Revival,” Kaigama called on workers to take the avenue of the day to reflect on how to bring an ailing nation to life. He said: "Wherever I

am chanced to speak, I am quick to affirm that Nigeria is a great nation. The entire world acknowledges that fact. But many of our people have lost hope due to decades of rape of the national treasury by a privileged few. "Yes we are a great nation, but greatness is never achieved on a platter of gold. It is earned and must be consciously sustained. As a nation, we are endowed with enormous natural resources; yet grope in the darkness of poverty and underdevelopment. "We produce crude oil, but sleep at filling stations to buy the by-products therefrom. As we celebrate Workers’ Day 2016, we must all resolve to put our acts together if we must revive our ailing nation." Addressing the workers, Ngige stressed the importance of the working class to the development of the nation. “The downturn in the revenue profile of the government, growing unemployment, especially among the youths, closure of some industries due to unfavourable economic climate and incessant industrial actions in key sectors of our national economy, are some of the realities we must confront and overcome if this nation must be on its path to sustainable economic prosperity and growth," he said.

Her words: "Workers in the state have been directed to stay in their homes to observe the May Day with fasting and prayers for a turnaround in the nation's economy to enable state government pay salaries regularly and other obligations to the citizenry." In Benue, workers booed the deputy governor, Engr. Benson Abounu, who is the acting governor, over what they described as inability of the state government to pay their salaries in arrears of three months. Abounu was jeered at while addressing workers at the Ibrahim Badamasi Babangida Square in Makurdi, the state capital. The civil servants booed the deputy governor while making his speech. Abounu’s statement that the state government was making frantic efforts to seek another financial grant from the Federal Government to pay workers did not assuage the workers. The acting governor charged Benue workers to continue to exercise patience with government even in the face of unpaid salaries. He explained that the situation was occasioned by the shortfall in the sources of revenue, assuring that the state government was going to clear all outstanding arrears as soon as the financial condition of the state improves. In Kaduna, the state chapter of the Nigeria Labour Congress (NLC) criticised Governor Nasir el-Rufai for planning to retrench workers in all the 23 local governments instead of embarking on programmes that will generate employment. Speaking at the rally in Kaduna Township Stadium yesterday, the state NLC chairman, Adamu Ango, said that May Day was supposed to be a day for workers to celebrate, but Kaduna workers were sad. "Today, May Day is our day but we have absolutely no reason to be cheerful. We must see this May Day as a call for reflections that must produce the kind of positive changes that we seek in our lives and in CONTINUED ON PAGE 4

21.39

The number of fixed-telephone subscriptions per 100 inhabitants of Argentina in 2000. Source: Itu.int

42%

The percentage by which mobile phone operator America Movil dropped (in dollar terms) since 2015. Source: Forbes.com

NEWS

MONday, May 2, 2016 NEW TELEGRAPH

Sultan: Don't blame herdsmen for Agatu, Enugu killings Onwuka Nzeshi and Charles Onyekwere

he Sultan of Sokoto and President General of Jama'atu Nasril Islam (JNI), Alhaji Muhammad Sa’ad Abubakar, yesterday rose in defence of his kinsmen over widespread allegations that Fulani herdsmen have been responsible for the serial massacre of people in farming communities in different parts of the country. In a statement issued on his behalf by the secretariat of JNI, the Sultan said it was "absurd" that some Nigerians were attributing the killings to Fulani herdsmen, thereby ascribing ethnic and religious connotations to what was purely a security problem. The paramount ruler expressed shock and deep concern on the incessant killings and maiming of innocent lives and the destruction of public and private properties, but urged the relevant security agencies to fish out the perpetrators of these atrocities and punish them. "It is indeed absurd and most unfortunate that certain groups or people ascribe the incidence on ethnic and/or religious premise and to whimsically apportion blame in order to batter the gradual restoration of peace and security in Nigeria. We, therefore, call for a thorough investigation by

appropriate agencies in order to fish out the evil perpetrators, bring them to justice and forestall reoccurrence. “The repeated heinous acts of attacks are crimes against the citizenry and the perpetrators are, therefore, criminals and must be treated so," he said. He condemned the brutal murder of people in Agatu Local Government Area of Benue State and the most recent massacre in Ukpabi Nimbo, Enugu State. He urged relevance security agencies to brace up to the trends, in order to put a stop to this ugly tide of violence. According to the Sultan, human lives are sacred and must be seen to be treated as such, adding that these repeated attacks were another trend of insecurity that portends grave danger to the nation. "We must thus be cautious of packaging crimes on religious and ethnic garments. Crimes are abominable and whoever commits them is criminal. Security agencies should brace up in being proactive and utilise maximally intelligence reports in order to nip in the bud possible eruptions of security problems within and around communities. "We must not forget so soon the adverse effect of the so-called Boko Haram group, that claimed many thousands innocent lives. Hundreds have been abducted, the males forced

into insurgency and the females into slavery. Millions more are wallowing in Internally Displaced Persons (IDP) camps in Nigeria and in Refugee Camps in neighbouring countries. Public and private properties worth trillions of naira have been destroyed," the Sultan said. He condoled with the families of those who lost their lives and sympathized with all victims of the attacks while urging government to take proactive and effective measures in addressing this security challenge. Meanwhile, the Indigenous People of Biafra (IPOB) has condemned the statements credited to 19 northern governors that the Fulani herdsmen were not behind the killings associated with them across various parts of the country.

The group spoke against the backdrop of the outcome of the meeting of the Northern Governors’ Forum held in Kaduna State last week. IPOB, in a statement signed by its Director of Media and Publicity, Emma Powerful, accused the northern governors of encouraging terrorism in the country because of the way they defended the herdsmen in their statement after the Kaduna meeting. "The statements by the so-called governors, who were elected to protect the lives and property of the people, proves to the whole world that they are the sponsors of the new emerging terrorist group in disguise as Hausa-Fulani herdsmen and cattle herders. "However, the massacre of our brothers and sisters by Fulani terrorist group

N1,866.2bn The annual actual collection of taxes of Nigeria in 2006. Source: Firs.gov.ng

1,177

The number of fatalities in terrorists’ violence involving terrorists in 1997. Source: Satp.org

in Igbo land will not be in vain because God Almighty created us. "The northern governors’ condemnation of the killing of our people in Agatu in Benue State, Uzo-Uwani Enugu State and Delta State after they had promoted those who committed the heinous crime is hypocritical because it doesn't reflect the true character of people who respect the rule of law," the statement said. IPOB challenged the

South-East governors to emulate their Northern counterparts in supporting their own. "We, IPOB worldwide, in a strong term call on the governors in Igbo land to read meaning into the statements made by their counterpart in the north. "More so, IPOB worldwide calls on the South-East, South South governors, lawmakers, politicians, traditional rulers, and elder statesmen to sit up for what is coming, because the terrorist group have perfected plans to exterminate the people of Biafra through the Fulani cattle herders. "We are disappointed that the Department of State Services (DSS), Police, Army and other security agents have not, by now, arrested anybody. The DSS has not come up with a report on how the culprits will be arrested.”

L-R: Lagos State Governor, Mr. Akinwunmi Ambode; his wife, Bolanle; wife of the former Governor of Cross River State, Mrs. Onari Duke and her husband, Donald Duke at "an Evening of Jazz with Governor Ambode" in Lagos...on Saturday. PHOTO: NAN

FG condemns calls for Crisis looms as Bi-Courtney, FAAN clash over terminal herdsmen to leave S'East lArik’s N12.5bn debt for us, says firm

he Federal Government has condemned calls by some individuals and groups in the South-East for herdsmen to leave the region. Minister of Science and Technology, Dr. Ogbonnaya Onu, made the condemnation yesterday at Uburu, Ohaozara Local Government Area of Ebonyi. He was addressing newsmen on the outcome of the All Progressives Congress (APC) SouthEast stakeholders’ meeting. According to him, the call is uncalled for, as President Muhammadu Buhari has directed relevant agencies to take appropriate actions in halting the killings by suspected herdsmen. “This situation is not pleasing to anybody, but the Federal Government is desirous to achieve a peaceful, strong and united nation. “The government appeals to south-easterners,

especially youths, not to take laws into their hands as a result of the development. “The people should exercise patience, as the president has categorically condemned the herdsmen’s actions and directed that no effort should be spared in checking the situation. “The Ibos are known globally to be peace loving and abhorers of violence, as I enjoin them to maintain such virtue,” he said. The minister said that the meeting involved elected APC leaders, national leaders, members of the National Working Committee (NWC) and other stakeholders from the zone. “We discussed ways of consolidating on the party's achievements and making it stronger because we want to start winning elections in the zone. “We also discussed the disputed issue of state chairmanship of the party, as it will be resolved very soon,” he said.

Wole Shadare

fresh crisis looms in the aviation industry over the true ownership of the domestic wing of the Murtala Muhammed Airport, Lagos, otherwise known as General Aviation Terminal (GAT). This is coming as BiCourtney Aviation Services Limited, operator of the ultra- modern Murtala Muhammed Airport 2 (MMA2), yesterday claimed that the N12.5 billion purportedly owed the Federal Airports Authority of Nigeria (FAAN) by Arik Air was for services it (Bi-Courtney) offered the airlines and not the other way round. Bi-Courtney based its argument on the fact that GAT was ceded to it as part of an agreement to recoup its N35 billion airport terminal investments. It alleged that the agreement was, however, violated by FAAN as it has been collecting revenue from the

terminal. According to the Chief Operating Officer of BiCourtney, Ms. Adebisi Awoniyi, Arik Air’s alleged N12.5 billion indebtedness actually belongs to the terminal operator. Arik was, penultimate week, shut down by aviation unions acting for the FAAN over the airline's indebtedness. Spokesman for Arik, Banji Ola, said he would react to the allegations when he sees the statement from Bi-Courtney, adding that his airline does not operate from MMA2. Awoniyi recalled that the National Union of Air Transport Employees (NAUTE), FAAN branch, had prevented Arik from carrying out its domestic operations at the General Aviation Terminal (GAT), Lagos and the Nnamdi Azikwe International Airport, Abuja, during the impasse. She noted: "We want the public, particularly relevant stakeholders, to

note that the country’s law recognises Bi-Courtney as the genuine owner of GAT, thus, making FAAN’s continuous operations of the terminal illegal and a clear violation of the laws of the Federal Republic of Nigeria." She alleged that FAAN, however, continues to defy the laws of the land, adding that it had “openly and recklessly denied our company 60 per cent of its revenue by its continuous illegal operation of the GAT as a competing terminal to MMA2, even after an Arbitration Panel, a Court of Law and an Appeal Court had ruled in our favour." She noted that consequently, all revenues, such as Passenger Processing Charge, space rental, fuel surcharge and others, which FAAN has been collecting and continues to collect from its unlawful operation of the GAT, including the N12.5 billion in contention between FAAN and Arik Air, belonged to Bi-Courtney.

According to her, the implication of this is that both FAAN and Arik Air are indeed fighting over monies that lawfully belong to Bi-Courtney Aviation Services Limited. Her words: "We also wish to categorically confirm that all the airlines operating at the GAT are actively involved in FAAN’s act of illegality, because they are all aware of the position of the law in respect of the ownership of the terminal." Awoniyi stated that GAT was declared an integral part of the MMA2 concession by the decision of the Federal High Court in 2009. Spokesman of FAAN, Yakubu Dati, had recently accused Bi-Courtney of a desperate bid to take over the terminal. He said: “Does the Ministry of Aviation and FAAN have the authority to cede government property to a third party or concessionaire without the approval of the Federal Executive Council, which approved the initial concession in the first place?”

NEWS

MONday, May 2, 2016 NEW TELEGRAPH

Aggrieved PDP members move to stop National Convention Onwuka Nzeshi

ABUJA

he National Convention of the Peoples Democratic Party (PDP) scheduled to hold on May 21 in Port Harcourt, the Rivers State capital, may be aborted as some chieftains of the party have approached a Federal High Court in Abuja seeking an order to halt the convention. The aggrieved members also asked the court to declare the processes of

organising the convention as illegal, null and void. They also want the National Working Committee (NWC) to step down immediately and allow the Board of Trustees (BOT) take charge of the party’s affairs. In a suit No: FHC/ABJ/ CS/233/2016 filed by Dr. Ayodele Adebo for himself and on behalf of Concerned Members of the PDP, the plaintiffs claimed that the tenure of the NWC of the party elapsed on March 24, and therefore

members of that committee had no business being in office now and organising the May 21convention of the party. Adebo, through his counsel, Essien Essien of Silva Opusunju and Associates, has asked the court to declare that the National Chairman of the party, Senator Ali Modu Sheriff and all other members of the NWC have served their terms in office as specified by the constitution of the party, having occupied those offices since March

24, 2012. The plaintiffs are also seeking a declaration of the court that the elongation of the tenure of members of the NWC through an internal memorandum addressed to the NWC was inaccurate and of no effect. According to the court papers obtained by New Telegraph, the plaintiffs are seeking an order of injunction restraining members of the NWC from further parading themselves as national officers of the party.

CONTINUED FROM PAGE 1

Workers lament poor welfare, unpaid salaries CONTINUED FROM PAGE 2

and the nation at large," he said. Workers in Adamawa State yesterday told Governor Muhammadu Jibrilla that they are running out of patience over unpaid salaries and other entitlements. The workers, led by the state chairman of NLC, Dauda Maina, said they are prepared for industrial action if the state government failed to address their welfare issues. The NLC lamented that almost half of the Adamawa workforce are without salaries for the past four months. Other problems affecting the workers, according to the NLC chairman, were non-payment of sala-

ries to over 900 junior staff employed by the health services management board since November 2014; nonpayment of salaries to medical and health workers in the past five months; and delay in the payment of salaries of primary school teachers for the past two years, among others. The deputy governor of the state, Mr. Martins Babale, promised that government would look into the complaints of the workers with a view to addressing them soonest. Babale, who represented Governor Jibrilla, lamented that the issue of unpaid salaries is not limited to Adamawa State alone. For workers in Edo

Dogara hails workers for their sacrifice Philip Nyam Abuja

peaker of the House of Representatives, Hon. Yakubu Dogara, has assured Nigerian workers of the commitment of the House to workers’ welfare. In a statement issued by his spokesman, Mr. Turaki Hassan, Dogara maintained that improvement in the condition of workers is critical to the change agenda of the present administration. According to Dogara,

had been anxious to see them leave the stage. Adebo told New Telegraph that part of his group’s grievances were the new zoning formula, which some regions have kicked against, and the subtle attempt by the members of the NWC to perpetuate themselves in office after their tenure had legally expired. There are strong indications that the legal battle instituted by Adebo and a few other concerned members had the tacit support of some elders of the party, who have been looking for an opportunity to do away with Sheriff and his team. New Telegraph gathered that the current wrangling within the party might result in another implosion, manifesting as another massive defection of aggrieved members of the party to form a new party.

Air Force refunds N19.44bn to Stabilisation Account

Members of Radio, Television, Theater and Arts Workers Union of Nigeria (RATTAWU) during the Workers Day celebration in Maiduguri… yesterday

the governance of our state. The problems Kaduna State workers are daily facing are enormous and they cut across the 23 local government areas. "Rather than embarking on programmes of massive injection of funds into the public/private sectors to generate jobs and employment, the Kaduna State government is marching in a totally different direction. Many local government council workers have been shortlisted for retrenchment due to flimsy excuses of irregular appointment from 2009 till date. This will affect about 7,000 workers and thousands of their dependents and will have a negative effect on the state

They also want the court to direct the national chairman of the party and all other members of the NWC to hand over the duties of their offices to the BOT of the party who would then constitute a National Caretaker Committee to run the dayto-day affairs of the party pending the conduct of a fresh national convention of the party. In recent months, the PDP has been embroiled in a series of leadership tussles following the party's loss to the All Progressives Congress (APC) in the 2015 presidential election. At its last National Executive Council (NEC) meeting, the party resolved to hold its national convention to elect a new set of leaders. However, this decision has not gone down with some members of the party who have issues with the current leadership and

"Workers are the lifeblood of every nation and a well-trained and motivated workforce is vital to our goal of a vibrant, strong, productive and efficient economy. A modern, knowledgeable and effective workforce is at the heart of the legislative agenda of the 8th House of Representatives. "Today, we honour those silent heroes who brave tough conditions to deliver their best; from our teachers to our doctors to our civil servants, to our farmers, to our self-employed youths and women, who

eke out a living despite the harsh economic conditions of today. For their sake, we shall do all in our power and employ the necessary legislative tools to make a difference in their lives.” The speaker lamented the unemployment situation in the country. "Unemployment remains one of greatest threats to both our security and progress. It is said that an idle mind is the devil’s workshop. We hope that the 2016 Budget will be faithfully implemented to kick-start the process of national renewal.”

State, it was a cheery news at the Samuel Ogbemudia Stadium in Benin, the state capital, as Governor Adams Oshiomhole announced the increment of the National Minimum Wage from N18,000 to N25, 000 with immediate effect, for employees in the State Public Service. He also promised prompt payment of outstanding arrears of salary to the staff of local government councils in the state. Oshiomhole said that plans had also been concluded to pay staffs of Egor Local Government Council who were being owed 13 months arrears of salary, within the next two weeks. The governor said even if the price of oil goes to zero per cent, Edo workers would get their salary alerts before the end of every month. He assured that he would not use his office to put hardship on any of his workers.

9,718

The total number of subscribers of VGC/MTN (fixed/fixed wireless) as at December 2014. Source: Ncc.gov.ng

0.05%

The percentage of individuals using the internet in Central African Republic in 2000. Source: Itu.int

It was gathered that the account into which the repayments were made were not meant for sharing by the three tiers of government. The account is one of several accounts under the control of FAAC. The revenue sharing laws provide that 0.5 per cent of funds accruing to the Federation Account should be remitted to the Stabilisation Account. At the peak of crude oil harvest in 2010, the Stabilisation Account had balances of about N120 billion as of August 2010, but was depleted to N37 billion by October 14. The funds, according to the document, were withdrawn for activities of the FAAC, the National Council on Finance and Economic Development (NACOFED) and the Consolidated Revenue Fund Charges (CFR), consumer car finance scheme, police peace keeping mission in Haiti, and Independent National Electoral Commission (INEC), among others. The immediate past Goodluck Jonathan administration made withdrawals in different instalments between September 2010 and May 2011 for various expenditures, including loans to the police and funding of committees. Findings revealed that the Federal Government withdrew over N75 billion in September 2010 alone. On September 1 and 15, the government withdrew N40.5 billion and N35.5 billion, which were purportedly “released to

CFR as loan to fund INEC for 2010 general elections. Another N11.3 billion was withdrawn on October 13 and “released” to INEC as loan for the same election. The stabilisation account rose to about N36 billion between January to May 2011, only to be depleted again to N11 billion. About N400 million was withdrawn as funding for the activities of FAAC and NACOFED between January and May 2011. Also, N150 million was withdrawn through five memos on the same day. Another withdrawal was made on January 26, 2011 of N255 million as “funding for NACOFED and FAAC Activities for 2011.” Meanwhile, members of FAAC have expressed satisfaction with revenue performances of some revenue generating agencies on their 2015 operations. The commendation came after the presentation of performance evaluation report on revenue generating agencies of government by FAAC special committee. In 2015, the Nigerian National Petroleum Corporation (NNPC’s) export and domestic oil gross sales stood at 91.25 per cent, its exports and domestic crude and gas gross sales stood at 45.34 per cent, Nigeria Customs 62.55 per cent, Federal Inland Revenue Service (FIRS) was 89.81 per cent, Department of Petroleum Resources (DPR) 89.70 per cent, while the Ministry of Mines and Solid Minerals Development was 81.47 per cent in 2015.

MONday, May 2, 2016 NEW TELEGRAPH

NEWS

MONDAY, MAY 2, 2016 NEW TELEGRAPH

MAY DAY

Ambode calls for rededication to service Sunday Ojeme

he Governor of Lagos State, Mr. Akinwunmi Ambode, has called on workers to rededicate themselves to service in order to surmount the prevailing economic challenges in the country. He gave the advice yesterday in Lagos during the annual rally to mark Workers' Day. The governor, who was represented at the fully packed event, by the state's Head of Sevice, Mrs. Olabowale Ademola, recalled his membership of the Committee of Workers as a civil servant, saying that society must

...as labour decries his absence at rally

appreciate its workers. The venue of the celebration almost became unruly when the workers noticed the governor's failure to physically identify with them. His representative, however, delivered his speech amid noise of rejection. Ambode said: "This year's celebration is taking place at a challenging time to build a sustainable economy. Most of the challenges in the economy are man-made. We must therefore rededicate ourselves. "Our priority is to en-

sure workers are happy because the aim of employment is to create wealth and fufillment for workers.â&#x20AC;? He identified with the entire workforce in Lagos, saying he shared with them the measure to sustain the commonwealth and to tell them that "Lagos is working." Earlier in his address, the Lagos State Chairman of the Trade Union Congress, Comrade Akeem Kazeem, informed the governor that the success of his administration would be measured through his ability to sat-

isfy the yearnings of the masses that voted for him into power. He commended the governor for paying salaries promptly and also keeping faith with employment of workers across board. He said: "Since the commencement of this administration, primary school teachers have been employed in the school management board and the process is still on. Lagos State Transport Management Authority (LASTMA) is also employing through the Civil Service Commission, the Fire

Service under Special Duties also employed. "We are aware of the release of N11 billion pension benefit by the current administration. It is a welcome development but we are yet to see the inauguration of the board

of Lagos State Pension Commission (LASPEC)." On his part, the Lagos State Chairman of the Nigeria Labour Congress, Comrade Idowu Adelakun, said Nigeria was currently at a crossroad as there had been leadership deficit and lack of people-centred development in the last 16 years.

Rivers: Workers eye improved wage Emmanuel Masha Port Harcourt

or workers in Rivers State, the main issue is beyond the payment of salaries, because it has been regular since the Nyesom Wike administration berthed in May, 2015. Although they are yet to receive April salary, they expect to get it in the first week of May. Recall that the current administration also cleared the arrears owed them by the past administration. The main expectations of workers in the state is an improved minimum

wage in line with the recent demand by the Nigeria Labour Congress (NLC). While Governor Nyesom Wike was against the reduction of minimum wage when some governors complained they can't meet up with payment, he might not support an improved salary. In his May Day message to workers, he promised that "workers will continue to enjoy a key position in his administration" based on their contribution in building a new Rivers, an improved salary for workers will take place if it is a national decision.

Gloomy day in Oyo over five months salary arrears ment reached with workSola Adeyemo Ibadan

Workers at May Day rally, in Abuja... yesterday.

PHOTO: Elijah Olaluyi

Amosun, workers disagree over N56,000 new minimum wage Kunle Olayeni Abeokuta

overnor Ibikunle Amosun and the organised labour in Ogun State, yesterday disagreed over the capacity of the state government to pay the proposed N56,000 minimum wage. While Amosun declared that governors of the federation have now become "endangered species" due to the prevailing cash crunch in the country, the workers argued

that they were suffering and needed new financial raise. They spoke at the May Day celebration held at the MKO Abiola International Stadium, Abeokuta, where hundreds of workers and other groups also embarked on march pasts. Amosun said at the event that despite the differences his administration had with labour unions, it had been able to pay monthly salary to workers consistently. He added that he succeeded in paying one out

of the backlog of deductions in the month of April, saying the gesture underscored the government's commitment to workers' welfare. The governor, who disclosed that the state currently owes N65billion in debt, said his government judiciously expended the bailout funds. He, however, appealed to workers to show more understanding with his administration as a result of the worsening economic situation and dwindling monthly allocation.

"Governors are endangered species now. I don't know of any governor that will not want to pay workers salaries. But we are in Nigeria; we should not pretend not to know what is happening," he stated. But earlier in his address, the state chairman of Trade Union Congress (TUC), Olubunmi Fajobi, said the current economic hardship had made nonsense of the national minimum wage of N18,000 which has been operational for over five years.

Labour presents 20-point demand to Fayose Sulaiman Salawudeen Ado-Ekiti

he state chapters of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), at the 2016 Workers' Day celebration, yesterday, gave Governor Ayodele Fayose, marching orders on 20 requests. They included immediate payment of all outstanding salaries and allowances.

Among the demands, 12 of which was from NLC while eight came from the TUC, labour urged Fayose to pay gross monthly salary rather than the net, release the report of April 2015 workers verification exercise, promotion of eligible officers, pay all outstanding leave bonuses and immediate constitution of state boards and commissions, among others. At the event which was low keyed owing to

the death of six medical doctors and a driver, the workers offered prayers for Nigeria's economic revival. In an address by the chairmen of NLC and TUC, Com. Ade Adesanmi and Com. Odunayo Adesoye, labour urged Fayose to audit the current wage bill of workers in the state, which it claimed stood at N2.6billion. According to them, the recommendation

could not be escaped as the same figure was claimed by the administration of ex-Governor Kayode Fayemi. Adesanmi in his address, specifically urged the governor to pay the workers their gross salaries, rather than the net, noting that that was the best way to alleviate the plight of the workers who depended on cooperatives and bank loans to meet many routine demands.

n unprecedented gloomy May Day celebration awaits the workers of Oyo State with five months salaries being owed them by the state government. Workers in the state received salary last in November last year. The development had necessitated a brief threat of strike early in the year as the Nigeria Labour Congress alleged that the administration of Governor Abiola Ajimobi had departed from the agree-

ers on mode of payment of their salaries. The NLC, through its Chairman, Comrade Waheed Olojede, with the Trade Union Congress (TUC) had last year signed a Memorandum of Understanding (MoU) that the government must use 90 per cent of the monthly allocation to pay salary, which the government obliged till February this year when they threatened strike. The monthly federal allocation had since the bailout funds regime dwindled from N5.6bn to N2.5bn.

Zamfara orders workers back to farm Idris Salisu Gusau

n an effort to improve food security and uplift the living standard of people in the state, Governor Abdulaziz Yari Abubakar of Zamfara State has advised civil servants to embrace farming in this yearâ&#x20AC;&#x2122;s wet season farming. Speaking during the 2016 May day celebration in the state, Yari stated that his administration has concluded arrangements for the implementation of Zamfara State Comprehensive Agricultural Revolution Programme (ZACAREP) phase 2 in the state.

"As part of government drive to create employment opportunities, we have concluded arrangement to launch ZACAREP phase 2; the policy has been designed to improve the productive capacity of small and medium scale farmers, improving food security in the state." According to the governor, who was represented by the Secretary to the State Government(SSG), Professor Abdullahi Mohammed Shinkafi, disclosed that government will implement the minimum wage of N18,000 to local government staffs and primary school teachers when the economy improved.

Borno NLC holds first outdoor rally in five years Ahmed Miringa Maiduguri

he Nigerian Labour Congress (NLC) has organized its first outdoor rally in Maiduguri since the Boko Haram insurgency started in 2009. The NLC commended Governor Kashim Shettima for his prompt payment of workers’ salaries, despite the economic meltdown and insurgency

facing the state. The State Chairman of the NLC, Comrade Titus Abana, during the Workers Day rally at Ramat Square, Maiduguri, said “this year Workers Day is unique as this is the first time in the past five years the union is organizing outdoor rally due to the insurgency”. He said this is not without challenges such as implementation of N18, 000 minimum wage to five local government areas of Biu, Askira/Uba, MMC,

Plateau, Kogi workers decry hardship, neglect Musa Pam and Muhammad Bashir Jos, Lokoja

lateau State workers under the umbrella of the Nigeria Labour Congress and Trade Union Congress of Nigeria have decried long years of hardship and neglect of workers by the state government. The workers complained about the nonpayment of outstanding four months salaries owed them by the state government. Chairman of the Nigeria Labour Congress in Plateau, Comrade Jibrin Banchir, while speaking on behalf of workers, during the low key celebration of workers in Jos, said the outstanding four months salary owed workers, especially local government and Primary school teachers, including five months salaries owed

tertiary institutions in the state over the "no work no pay entanglement". "As we continue to engage government on the plight of our members, it is important to define the parameters of our pains which have persisted over the years. They include a non-implementation of N18,000 minimum wage to local government workers and primary school teachers as well as continued delayed in payment of salary of workers". Banchir disclosed that the workers expectation were high, having kept faith over the years but unfortunately, they have been subjected to hardship and neglect. He again mentioned the non-payment of gratuity and pension to both state and local government retirees, delay in completion of biometric exercise and payment of outstanding salary to cleared workers.

Ishaku receives ultimatum to settle deducted salaries Sabiu Mustapha JALINGO

he Nigeria Labour Congress, Taraba State chapter, has given Governor Darius Ishaku, of the state the end of May to settle all the deductions in the workers' salaries. The union wants the state government to settle all the underpaid and omitted civil servants ' right from October 2015' before the given period. The state chairman of the NLC, Peter Gambo, gave the ultimatum yesterday during the May Day celebration in Jalingo, the state capital. "The gover nment

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MAY DAY

MONDAY, MAY 2, 2016 NEW TELEGRAPH

should as a matter of urgency settle all deductions and omissions of salaries right from October 2015, and today before the end of May, 2016," The NLC chairman said. " We also encourage the government to close the gap in the payments of local government staff and primary school teachers salaries, " he added. The union further demanded the immediate relocation of the consultant that is handling the workers' salaries payments in the state from Abuja to Jalingo. "We cannot further tolerate our salaries being prepared outside Jalingo," Gambo vowed.

Hawul and Jere, stressing that there was also need for the implementation of N18,000 minimum wage to teachers working under local Education Authorities. Abana said: “ We lost many of our workers to insurgency in the state. We lost over 175 teachers in the state, 100 from health workers among other civil servants but now thank God peace is gradually returning to our dear state.”. On the issue of the

on-going verification in the state civil service, he said the state government should carry out the exercise with caution to avoid what happened in Kano, where some legally employed civil servants were declared as ghost workers. Responding, Shettima represented by his deputy, Alhaji Usman Mamman Durkwa, said government was working hard to see that all workers in the state enjoyed the N18,000 minimum wage.

Jigawa not indebted to workers – Badaru

ov. Muhammadu Badaru of Jigawa State said yesterday that the state government was not indebted to workers and it was paying them salary promptly. Badaru said this at the May Day celebration in Dutse. The governor, who was represented by his Deputy, Alhaji Ibrahim Hassan, also said his government had been prudent in the management of the meagre allocation from the Federation Account and able to pay salaries and run the other affairs of government. "Since we took over the

mantle of leadership in the state, our monthly allocation has been declining on monthly basis and last month is the least in the last 10 years. "In spite this challenge of dwindling economy, this government has not taken any bailout from the Federal Government or commercial banks. "I am sure this our challenge is temporary. As you know, the test of governance is not when you have prosperity but when you have adversity and we shall overcome it”,he said. The governor called for understanding of the

Enugu workers demand increase in arrears, pension Charles Onyekwere ENUGU

orkers in Enugu State yesterday asked the state government to increase the arrears of pension and gratuity of civil servants and appealed for amicable ways of settling them. The state Governor, Hon. Ifeanyi Ugwuanyi reassured the workers of his administration’s commit-

ment to continue to work in concert with the organized labour in the state to ensure the satisfactory resolution of all outstanding issues between government and workers. Lamenting the increasing arrears and the need to settle all outstanding debt owed to retirees during the Workers’ Day celebration held at Okpara Square, Enugu, the workers noted that, “more Civil Servants, especially those employed between

1981 -1983 have started retiring en-mass from this year”, stressing that the development would increase the arrears of gratuity and pension. “The last gratuity was paid at the local government in 2002. Your conscious efforts will save lives of these men and women who served the fatherland during their productive age. The situation is even alarming in the following institutions like Enugu

State Water Corporation, Enugu State Broadcasting Service and Daily Star. We call for your urgent intervention”, the State Chairman of the Nigerian Labour Congress (NLC), Comrade Virginus Nwobodo said. He urged the governor to approve the promotion of teachers for 2013, 2014 and 2015, stressing that while many of the beneficiaries have retired, others have died while awaiting the promotions.

L-R: Representative of the Sultan of Sokoto, Alhaji Kabiru Usman; Vice Chairman, Nigeria Labour Congress (NLC), Abubakar Malami and Chairman, Trade Union Congress, Alhaji Sani Yabo, at the 2016 May Day Celebration, in Sokoto… yesterday. PHOTO: NAN

3,050 houses for civil servants in Sokoto T he Nigeria Labour Congress (NLC) in Sokoto State, says it would build 3,050 housing units for civil servants in the state. The News Agency of Nigeria (NAN) reports that the state Chairman of the NLC, Mr Aminu Umar, disclosed this in Sokoto yesterday at the 2016 May Day Celebrations. Umar, who was represented by his Deputy, Mr Abubakar Malami, said that the houses will be built in partnership with some private estate developers. “So far, about 100 hectares of land had been acquired by the company

on which the houses would be built including other facilities like clinic, mini market and schools, among others. “Therefore, I will like to solicit for your continued cooperation in order to help us achieve the set goals of improving the welfare of workers," Umar urged. He commended the state government for ensuring the regular payment of salary and the payment of arrears of gratuities to retired civil servants in the state. The chairman extolled the existing cordial relationship between labour unions and the state government.

Umar further acknowledged the desire and commitment of the state government to improve the lot of the civil servants in the state. However, he appealed to the state government to look into the plight of retired teachers and workers of local government councils, as well as salary disparity between secondary and primary school teachers. Umar further urged the state government to implement consolidated salary for legislative staff, as well as introduce a special media salary scale, among other demands.

Gov. Aminu Tambuwal, who was represented by the Secretary to the State Government, Prof. Bashir Garba, said that no society can develop without a functional, robust, motivated and dedicated civil service. Tambuwal also pledged to sustain the prompt payment of salary and pensions, as well as uplifting the general welfare of the citizenry. The governor urged the civil servants to reciprocate the gestures of the state government by being disciplined, dedicated to their duties and more productive.

MONDAY, MAY 2, 2016 NEW TELEGRAPH

METRO Taiwo Jimoh

police corporal, identified as Taye, attached to Denton Police Division, has been accused of torturing a 19-year-old barber, Gafar Ayoola, to death at Oyingbo area of Lagos State. Gafar’s father, Mr. Gboyega Ayoola, said his son was at Oyingbo bus stop about 8:30a.m. last Friday, waiting to board a bus to Badagry when Taye arrested him. He said the corporal accused Gafar of abusing him three months ago and that he had been monitoring his movements in order to arrest him. Ayoola said he was told that traders nearby begged the policeman not to arrest Gafar but Taye insisted on taking him to the station. According to him, a few hours later, Gafar died while being tortured. The news of Gafar’s death led to a protest in the area. Ayoola said Gafar’s mother sent the deceased to Oyingbo before he met his death. He said: “My family and I live at Okoafo, Badagry area, where the deceased had a shop. Before I left home for the Island on that fateful day, my wife told me she wanted to send Gafar to Oyingbo to give her elder sister money for a monthly contribution. “I was still in the office about to close when I received a phone call from my first son, Shamsideen, that a policeman from Den-

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Corporal tortured my son to death –Father

The late Gafar

ton Police Station had arrested his younger brother and tortured him to death. That was how I left

Ayoola

Ikoyi for the police station, only to get there and find a crowd at the entrance of the station, pro-

IG deploys choppers for Anisulowo’s rescue Kunle Olayeni Abeokuta

olice in Ogun State yesterday said they had deployed two helicopters in the search for the abducted former Minister of State for Education, Senator Iyabo Anisulowo. Anisulowo, 65, was kidnapped last Wednesday while returning from her farm at Sawonjo in Yewa North Local Government Area of the state. The victim’s Toyota Sport Utility Vehicle (SUV) with registration number LSD 115 AM has since been recovered by the police. The state Police Public Relations Officer (PPRO), Olumuyiwa Adejobi, said in a statement that the helicopters arrived the state on Saturday. Adejobi disclosed that the choppers were deployed by the Inspector-General of Police, Solomon Arase, to identify suspected kidnappers’ hideouts. He added that search teams from Lagos, Ogun, Oyo and the office of the IG, Force Headquar-

abiodun.bello@newtelegraphonline.com 08023938212

Police search team with one of the choppers

ters, Abuja had also joined the rescue operation. The PPRO quoted the state Police Commissioner, Abdulmajid Ali, as saying that Anisulowo would soon be rescued unhurt. He said: “The Commissioner of Police, Ogun State, who spoke on behalf of the teams, has assured that the kidnapped former senator will be soon rescued unhurt and culprits apprehended as every officer of the command and members of the search teams have been having restless nights since the day of the incident.

“CP Abdulmajid Ali, therefore, appreciates the Inspector General of Police, Solomon Arase, for his full support and concern towards the rescue of the victim; and also appreciates other security agencies, search teams and members of the public, particularly government of Ogun State, for their support so far.” Adejobi assured the general public that every professional strategy would be harnessed in ensuring the senator was brought back home healthy and safe.

testing the death of my son. “When I got to the station, I was told my son was tortured. But the policeman was afraid when he noticed the manner my son was breathing; he hurriedly called the Divisional Police Officer (DPO) on the phone to brief him about the condition of the boy. But the DPO was said to have told him to continue with his torturing; that the suspect was only pretending. “When the breathing was becoming unbearable, the corporal, I was told, called the DPO once again to inform him about the state of health of the suspect. The DPO later ordered them to rush him to a private hospital where he was pronounced dead.” Ayoola said he demanded to see the policeman who allegedly tortured his son to death. He added: “When I demanded to see the policeman who killed my son, after seeing the crowd which followed me to the station, the policemen on duty hurriedly called the DPO who came and started begging me to take what happened to my son as an act of God. The DPO said they were actually after a notorious criminal called Dagba in the area and not my son. “The DPO told me that my son died of cardiac arrest; because of the fear that gripped him when he was being tortured.

He said that someone could die owing to different circumstances and that it had been destined that my son would die in that manner.” Gafar’s mother, Mrs. Lateefat Ayoola, who spoke with our correspondent on the phone, said her son must not die in vain. She said: “I sent him to Oyingbo to give my elder sister money for our monthly contribution. If I had known my son would die that fateful day, I would have sent the money through bank. Where do I get a grown up boy like that at my age?” Gafar’s body was said to have been deposited at the Lagos Mainland General Hospital mortuary. The state Police Public Relations Officer (PPRO), SP Dolapo Badmos, confirmed Gafar’s death. She said: “The report we received was that barely some minutes after the deceased was arrested and brought to the station, he complained of feeling sick and he was rushed to the hospital. “The suspect was receiving treatment when he passed on. The leadership of the command is keen on entrenching respect for human rights. It also abhors any form of torture.” Badmos also promised that the command would open investigation into the matter.

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MONDAY, MAY 2, 2016 NEW TELEGRAPH

How we procured gun to rob –Suspect Sola Adeyemo Ibadan

26-year-old suspected armed robber, Teslim Mohammed, has told the police in Oyo State how he got a gun from a colleague, attempted to use it to rob but was arrested before carrying out the attack. Mohammed, who hails from Kwara State, was paraded at the state Police Command Headquarters, Eleyele, on Friday along with Aliu Azeez (28), Olanrewaju Ajayi (23), Kehinde Abiodun (28), Adeleke Adeyemo (28), and Adamu Muhammed (23). But the state Police Commissioner, Leye Oyebade, said the suspects, who had been terrorising residents of Oyo and Ogbomoso in Oyo State as well as Ilorin in Kwara State, were arrested in their hideout on April 26 by men of the Special Anti-Robbery Squad based on intelligence report. Confessing to a series of robbery operations his gang had been engaged in, Mohammed said: “I am a native of Ilorin and I had been robbing in Ilorin before. But it was up to a year since I robbed last before one boy named Tunde brought a gun to me at Agbabiaka area of Ilorin. Tunde asked me to sell the gun. I called another friend, AZ, and we attempted to use it to rob, but we were unable to operate that day. “I later gave the gun to my colleagues who went with it. But later, I saw policemen who came to arrest me. AZ and Tosin are my friends and we were doing the robbery operations together before we were caught. I met AZ not quite long ago. It was the arrest of the boy who brought the gun to me and his accomplices that led to my own arrest.” Mohammed also explained how the gang came about arms and ammunition displayed before them. He said: “All these arms recovered from us were just recently procured. We have not used them.” Mohammed said he embraced robbery because his mother died and his father was unable to take good care of him. Meanwhile, the police commissioner, has cautioned residents against security laxity. He said: “Even in our schools, we have made arrangement with the principals to upgrade security

City Briefs Emmanuel Masha Port Harcourt

unmen, suspected to be cult members, have killed 19 people at two villages in Ahoada East Local Government Area of Rivers State. The killings started around 1p.m. last Saturday when the gunmen first invaded Ula-Apata village and started shooting indiscriminately. The gunmen, according to a witness, who escaped from one of the villages, had first attacked Ula-Upata and killed 12 persons, left and returned around 9p.m. and killed two more persons. He said: “Yesterday (Sat-

around public and private schools. We are partnering with school proprietors to ensure better security. We have organised patrols around schools to nip in the bud incidents of invasion by hoodlums, as well as curtailing the recalcitrant attitude of some students.” Oyebade also disclosed that many of the robbers being arrested were using Micra taxi cabs to operate where many passengers were falling victims of armed robbery, rape and kidnapping. He said: “Our command has begun collection of database of Micra drivers to stem the wave of kidnapping, rape and robbery through these Micra operators. “We have started doing the same for motorcycle operators. We have decided to give them jackets with inscriptions to identify them with their photographs. Anyone caught without registration in our database will be dealt with. All these we are doing to stem the ugly tide of criminal activities in the state.”

The suspects and the weapons recovered from them

I’ve sold 4,256 stolen phones, says NURTW chieftain Muritala Ayinla

42-year-old man, Kazeem Bamidele, has told police in Lagos that he had sold at least 4,256 stolen phones of different makes received from thieves and pickpockets. Bamidele, arrested yesterday by officials of the Rapid Response Squad (RRS), said he had over 52 ‘boys,’ who usually sell ‘clean’ stolen mobile phones to him on a regular basis. The suspect, who is the second vice-chairman of the National Union of Road and Transport Workers (NURTW), Ajegunle Unit, told the RRS Intelligence Team that he received at least 38 phones weekly from robbers, pickpockets and ‘one-chance’ thieves operating in the state. Bamidele, who is popularly known as ‘Elewure,’ was arrested when the RRS Intelligence Team quizzed two stolen phone users in Kogi State in connection with abduction and robbery cases in Lagos State.

The RRS arrested Bamidele at his shop in Boundary Market, Ajegunle, after he was identified as the man who sold two Blackberry Z10 phones and a CAT phone collected from victims of robbery and abduction in the metropolis. Bamidele said: “I have over 52 boys who sell clean stolen mobile phones to me. On the average, I receive 38 clean phones in a week. I have been in the business for more than two years. “Boundary Market in Ajegunle, where I have office and shop, is where they sell the phones to me and that is where the buyers equally get them. I know they are stolen phones. Nearly every guy in Ajegunle is involved in this kind of ‘runs’. It is what they do to survive. “I was pushed into the business by family pressure. I have two wives and seven children. I have so many dependants. What I pay as school fees alone is staggering. “I had too many problems in life. My mother gave birth

to 13 children for my father. Though both of them are no more, only three of us are left. I am the breadwinner of the family. “My first wife’s children are part of the predicament I have. Since I married the second wife, I have not known peace. Can you believe that since I was arrested, she has never called or visited me? I know this is a lesson for me in life. She has seven children for me and what I paid as school fees for her children is staggering.” The suspect added that he started out by grinding ‘elubo’ (yam flour), pepper and maize before he started selling stolen phones. According to the RRS, the suspect is now helping the police to pick up his ‘boys’ from their hideouts, bus stops and routes of operations. The state Police Public Relations Officer (PPRO), SP Dolapo Badmos, said police were following up the suspect’s revelations and were making steady progress in their investigations.

Bamidele

Cultists kill 19 in Rivers communities College worker

Rivers Governor, Nyesom Wike

urday) was a bloody day at Ula-Upata and Edoha communities. Gunmen went berserk and killed 19 people at Ula-Upata and Edoha com-

munities. “As if they were not satisfied with their killing spree, they reappeared again about 9p.m. and killed two more people. They later moved to Edoha, a nearby village to Ula-Upata and beheaded five persons. The heads of the victims littered Edoha Road.” When contacted, the state Assistant Police Public Relations Officer, Grace Koko, said the attacks were carried out by cult members fighting a war of supremacy. She, however, said that only two persons were confirmed dead during the attacks.

The army spokesman, Captain Eli Lazarus, did not pick his call to comment on the incident. Soldiers from 2 Brigade, Bori Camp, Rivers State, were drafted to some communities within the area where the killings took place to check the menace of cultists, before the recent rerun state and national assemblies’ election. Apart from occasionally waging war against rival cult members, cultists in the senatorial district also carry out kidnappings for ransom, armed robberies and assassinations.

dies after sack

Uchenna Inya ABAKALIKI

ne of the disengaged staff of Ebonyi State College of Education, Ikwo, Onwe Samuel, has reportedly died of heart attack. Onwe was among 83 workers of the college who government alleged were recruited without due process and ordered their dismissal. The man, who was working in the security department of the college, reportedly died on April 24 after he was given a disengagement letter by the Chief Security Officer of the college, Emeka Ogayi. Onwe was said to have taken ill but did not go to hospital because of lack of money.

NEWS

Appolonia Adeyemi

eople who get too little sleep are said to face the risk of raising their bad cholesterol, which may be detrimental to the state of their heart health. According to a study published in the journal, Scientific Reports, just a week of inadequate sleep

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Lack of adequate sleep damages heart –Study can damage the heart due to a rise in ‘bad’ cholesterol. The researchers showed that people who spent too few hours in bed also had less ‘good’ cholesterol circulating in their blood, than those who slept sufficiently.

Obasanjo, IITA collaborate on zero hunger level in 2030

n an effort to achieve the much- desired sustainable Development Goals (SGDs) that would put an end to hunger in Nigerian by 2030, former President Olusegun Obasanjo and the International Institute of Tropical Agriculture (IITA), Ibadan have collaborated through an initiative termed ‘Zero Hunger’ project. This was revealed at a multi-sectoral stakeholders meeting in Ibadan at the weekend where Obasanjo said the task of attaining the SDGs could not be left for either the government, the civil society or the private sector alone but was a collective task for all and sundry. Leading a team of experts across the agriculture process chain and

relevant government ministries and agencies, Obasanjo who flagged off the project said that the task of providing food in sufficient quantity by 2030, “is going to take the collective effort of each and every citizen of this great nation and our partners. It will require our collective change of mindset to at first identify the opportunities that abound,” he said. Speaking further on the Nigeria Zero Hunger Strategy initiative, which received support from the World Food Program, Obasanjo commended the efforts of the international community towards fighting hunger and poverty, citing efforts and gains made under the Millennium Development Goals.

NBS rates MMA Lagos busiest airport Abdulwahab Isa Abuja

report on the nation’s aviation sector released yesterday by National Bureau of Statistics (NBS) has rated the Murtala Muhammed International Airport (MMA) Lagos as the busiest airport in the country The report, which covered the second half of 2014 and 2015 revealed that the airport was also ahead of others both in terms of the number of travellers and aircrafts. It said the MMA accounted for 36.5 per cent of domestic passengers, 69.2 per cent of international passengers, 89.5 per cent of cargo movement and 44.9 per cent of

mail movement. According to the report, in third quarter of 2015, the total number of passengers that traveled through Nigeria airports was 3,824,319, representing an increase of 299,533 (8.5 per cent) relative to the number in the second quarter. The number, the report, added was still 2.8 per cent less than the third quarter of 2014 when the total number of passengers was 3,936,018. It noted also that the fourth quarter saw both a quarterly and a year on year decline, of 0.4 per cent and 8.5 per cent respectively, with a total of 3,810,758 passengers, compared to 4,163,762 passengers in the fourth quarter of 2014.

Education levy: Catholic Church sues Ekiti Sulaiman Salawudeen Ado-Ekiti

he Catholic Diocese of Ekiti has sued the state government for imposing development levies on pupils and students of primary and secondary schools in the state. In an originating summons in a suit filed against the Attorney General of the State as well as the Commissioner for Education at a High Court in

Ado-Ekiti, by the Incorporated Trustees of the Catholic Diocese of Ekiti, the church wanted the court to resolve three issues. One was “whether every child of primary school and junior secondary school age in Ekiti State is not entitled to free and compulsory basic education under Section 2 of Compulsory Free Universal Education Act, 2004 and Section 19 of Ekiti State Universal Basic Education Board Law.”

Seven to eight hours of sleep for adults was recommended by the National Sleep Foundation (NSF), the body dedicated to improving health and well-being through sleep education and advocacy. A PhD student in sleep research at the University of Helsinki, Vilma Aho, said based on the outcome of this study, people should be educated on the importance of getting the right amount of rest to prevent common diseases, as well as eating healthily and exercising. Genes, which regulate the transport of choles-

terol around the body are less active in sleep deprived people than those getting a good night’s rest, the researchers found. However, the findings could explain why those who get less than the recommended seven to eight hours sleep a night were at higher risk of cardiovascular diseases such as heart disease, heart attacks and strokes. Cholesterol is a kind of fat made by the liver and found in the blood, which is essential to the body as cells and organs need it. But there are two types; ‘good’ high-density lipopro-

teins or HDL, and ‘bad’ or low-density lipoproteins. ‘Bad cholesterol’ can damage the walls of the arteries, causing them to become hardened, scarred and plaques form. These plaques can restrict blood flow to the heart, causing a heart attack, or can break off and travel to the brain, causing a stroke. Good cholesterol, on the other hand, acts as a magnet, hoovering up the bad cholesterol and moving it out of the arteries and into tissues such as the liver, or to make hormones. The team, from the

University of Helsinki in Finland, wanted to find out why lack of sleep was linked with more heart problems and strokes. According to report in the mailonline, the researchers analysed people sleeping in a laboratory, and looked at data on sleep levels and disease in members of the general population. Similarly, they looked at the impact of sleep deprivation on how genes regulating the transport of cholesterol around the body - and on the actual levels of cholesterol in the blood.

L-R: General Manager, Marketing, MultiChoice Nigeria, Martin Mabutho; overall winner, Damilola Ojuri; Managing Director, MultiChoice, John Ugbe and Country Manager, Viacom Nigeria, Ifeoma Williams, during the MultiChoice Staff edition of MtvBase Lip Sinc Battle Africa, in Lagos… at the weekend.

Troops kill 9 Boko Haram suspects, rescue 1,000 –Army Emmanuel Onani

he Nigerian Army said yesterday that troops of 3 Battalion (22 Brigade) killed nine suspected Boko Haram elements, during a preemptive strike against a planned attack. A statement by the Acting Director, Army Public Relations (DAPR), Col. Sani Usman, said the troops were able to repel the fighters owing to intelligence. ‘’Troops of 3 Battalion 22 Brigade, have today carried out a successful pre-emptive strike to foil a planned Boko Haram terrorists attack on the military and innocent civilians around Wunbi in Kala Balge Local Government Area of Borno State. The pre-emptive attack was carried out after

information was received about the devilish intention and location of the terrorists. While on a patrol to foil the attack troops encountered the terrorists at Tatakura village 20km South West of Wumbi. There was heavy exchange of fire at the end of which nine Boko Haram terrorists were killed. Meanwhile, the Nigerian Army said yesterday that it has rescued about 1000 people held captives by Boko Haram insurgents in the Sambisa forest. That was as it announced that it had commenced large scale operations to smoke out Boko Haram terrorists from their Sambisa forest hideout in Borno. Maj.-Gen. Lucky Irabor, the Theater Commander, Operation Lafiya Dole said this while

briefing newsmen in Maiduguri. “I want to inform you that troops of the Operation Lafiya Dole are conducting operations in the heart of Sambisa as we speak. “The troops are deep into the forest to smoke out Boko Haram terrorists,’’ Irabor said. He said that the troops were led by the General Officer Commanding (GOC) 7 division of the Nigerian Army, Maiduguri Brig.-Gen. Victor Ezugwu. “In fact, the GOC 7 division is leading the operations,’’ Irabor said declining to give further details. He said that the troops had also recorded tremendous successes against the terrorists in the last couple of days. “Following a tip-off,

troops intercepted four female suicide bombers approaching from Sambisa in the general area of Jimini-Bolari village. Two unexploded Improvised Explosive Devices on the suicide bombers were safely detonated by our own team. “Also, a suspected terrorists training camp at Mudallah llage in Dikwa Local Government Area was raided by troops on April 16. “Consequently, troops made contact and killed a suspected terrorists leader and six others while capturing five of them, during the raid, five vehicles and several terrorists flags were destroyed.’’ Irabor said that the troops also rescued over 1,000 civilians held captive by the terrorists.

PDP govs meet on Fulani herdsmen attack on Enugu community Charles Onyekwere ENUGU

overnors of SouthEast elected on the platform of the Peoples Democratic Party (PDP) rose from a closed door meeting yesterday resolved to visit the Uk-

pabi Nimbo community where the Fulani herdsmen unleashed attack that left several people killed and others injured. Also present at the meeting were the Deputy Senate President, Ike Ekweremadu, Governors Okezie Ikpeazu of Abia, Dave Umahi of Ebonyi

and Governor Ifeanyi Ugwuanyi of Enugu State. Addressing Journalists at the end of their meeting, held at the Government Hose Enugu, Ekweremadu said the governors would get their colleagues from Anambra State, Chief Willy Obiano and Rochas

Okorocha of Imo State to join them in the proposed visit to the affected community. He said the visit was aimed at taking stock of the damage done to the area, with a view to taking a definite position as leaders of the South-East zone.

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Yuguda What next after PDP exit?

Politics

Interview Ortom: Critics should allow APC concentrate on governance

13 14

Zoning ruffles feathers ONYEKACHI EZE reports on the controversy over the ratification of the zoning of the national chairmanship position of the Peoples Democratic Party (PDP) to the North-East by the party’s National Executive Committee (NEC)

t is trying times for the Peoples Democratic Party (PDP) even though the party’s National Chairman, Senator Ali Modu Sheriff, insists that the decision to zone the national chairmanship position to the North-East was a unanimous decision by members of the party’s highest decisionmaking organ – National Executive Committee (NEC). An indication that the decision will ruffle feathers in the party was the poor attendance during the party’s NEC meeting last Thursday. Some of the NEC members who attended the meeting were not comfortable with the recommendations of the Governor Emmanuel Udom-led committee on the zoning of national offices. The NEC hall, which is usually filled to the brim during its meetings, was scanty, and from the speech of the Acting Chairman of the PDP Board of Trustees (BoT), Senator Walid Jibrin, it was obvious that the zoning committee's report did not pass through the various organs of the party before the final debate by NEC. According to Senator Jibrin, "the exclusion of the BoT is not deliberate and I appeal to all members of the BoT that they should not take offence that there was no any meeting of the BoT. We will have another meeting after this (NEC) one. "We are very aware of vari-

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Sheriff

ous meetings everywhere. I have decided that I will not attend any meeting apart from the properly organised meetings because we have to be very careful with the way we hold meetings these days." Since the report of the committee leaked to the public, there have been meetings by aggrieved members of the party on the next step to take. Some party members even threatened to leave PDP in protest over the retention of the national chairmanship position in the North-East. Among those who are likely to dump the former ruling party is Deputy National Publicity Secretary, Alhaji Abudullahi Jalo. The party’s deputy spokesperson, who is from Gombe State in the NorthEast, said he would leave the party on moral ground. According to him, "there was a unanimous decision to zone the chairmanship to the South-West due to the fact that the North has produced about nine PDP national chairmen from the time of Solomon Lar up to the period of Ali Modu Sheriff. The North is interested in the presidential ticket, not the national chairman." Though Jalo’s position cannot be dismissed, some members of the party are of the view that he may be voicing his anger due to the fact that the zoning arrangement may disqualify his governor, Ibrahim Dankwambo, from realising his presidential ambition. According to the report adopted by the NEC, the national

Emmanuel

George

POSITION

ZONE

National Chairman

North-East

Deputy National Chairman

South-South

iii

National Secretary

South-West

Deputy National Secretary

North-Central

National Legal Adviser

North-West

Deputy National Legal Adviser

South-South

vii

National Treasurer

South-South

viii

Deputy National Treasurer

North-West

National Financial Secretary

North-Central

Deputy National Financial Sec.

South-East

National Woman Leader

North-West

xii

Deputy National Woman Leader

South-South

xiii

National Auditor

South-West

xiv

Deputy National Auditor

North-East

National Publicity Secretary

South-West

xvi

Deputy National Publicity Sec.

North-Central

xvii

National Organizing Secretary

South-East

xviii

Deputy National Organizing Sec.

North-Central

xix

National Youth Leader

South- East

xix

Deputy National Youth Leader

North-West

chairmanship position goes to North-East, the deputy to SouthSouth while the South-West still retains the position of the national secretary. The position of deputy national secretary, which was in SouthEast, now goes to North Central, while the nation legal adviser has been zoned to the North-West.

The deputy national legal advise is now in the South-South. The position of national treasurer was also zoned to the SouthSouth, while the deputy goes to North West. The office of national financial secretary is now in the North Central as against SouthWest, while the South East will produce the deputy. The national woman leader will now come from North-West as against South-East, while the South-South will produce the deputy. For the office of national auditor and deputy, the PDP NEC agreed that they should go to South-West and North-East, respectively. The South-East will however produce the national organising secretary and national youth leader. The deputy national organising secretary and deputy youth leader will come from North Central and North-West, respectively. The national publicity secretary will come from South-West, while the deputy will come from North Central. While some analysts have described PDP’s distribution of its national offices as a fair deal, the grouse of most party stakeholders, especially those from the South-West, is the failure of the party to rotate the national chairmanship position of the party. Dr. Doyin Okupe, a former Senior Special Assistant, Public CONTINUED ON PAGE 12

POLITICS

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

Communications to ex-President Goodluck Jonathan, noted that out of 11 PDP chairmen in 18 years, only the Yoruba race have not been able to produce one. His words: "I want to state categorically here, without any fear of equivocation, that we, the Yoruba from the South-West, desire and demand the post of the national chairman at the next convention of the party. "In the interest of fairness, equity and justice, it is most compelling that the Yorubas of the SouthWest zone must be allowed to contest for this post at the coming national convention. Any attempt to do anything to the contrary, no matter the reason advanced cannot be acceptable. "Failure for a Yoruba man to emerge as the national chairman can only mean two things. That there is a pervasive and concealed hatred for the South-West in the PDP or that the PDP has very little or no regard for Yoruba interest as was evinced by the obvious cheating of the South-West from the position of the Speaker in 2011, which was never rectified nor compensated for the whole of four years. "The sad implication of the above is that, regrettably, many of us from the South-West may have to reconsider our membership of this great party, which we have helped to nurture and supported through thick and thin; a party we have loved almost more than our very existence, and the party we have served with all our natural endowment, in victory and defeat. If there exist any conscience, anywhere in this party, let that conscience speak now and stop the new and alien conscienceless power currently holding sway within the party hierarchy." Interestingly, it was a group from the South- West that first called for the retention of the national chairmanship position in the North. The group led by the senator representing Ogun East in the National Assembly, Senator Buruji Kashamu, while on courtesy visit to Sheriff on March 21, said the position of national chairman should not be zoned to the South. The group was of the opinion that PDP will be branded a regional party if the chairmanship goes to the South. “Out of the five states in the South-East, the PDP has three governors; we have five governors out of the six states in the South- South; in the SouthWest, we have two governors. In the whole of the North, we have only two governors. We need to strengthen the North, if not, the PDP will be branded as a regional party if we go ahead to pick the national chairman from the South," the group argued. But former Deputy National Chairman of the party, Chief Olabode George, who faulted the position of the Buruji group, said the stand was disgraceful to the zone. His words: “When I read about some of our people from the South-West, who went to see the national chairman and said they didn’t want the party’s chairmanship to come to the South-West, my initial reaction was of anger. “When we started the journey to rebuild the PDP in the SouthWest, none of those people was a member. How can anybody in a

MONDAY, MAY 2, 2016 NEW TELEGRAPH

PDP's zoning stirs controversy

Jalo

family go out and wash your dirty linen in the market? But I want to assure them that I have no lustre, it’s not a matter of life and death to come and serve. I was distressed with the news, it was a disgraceful position. “A lot of my friends from the North called and said that we heard some of your people are saying no to the chairmanship, but they said that they have accepted that the presidential candidate would come from the North and that is what they stand on.” Another chieftain of the PDP in the South-West and a member of the party’s BoT, Chief Ebenezer Babatope, said: “We are preparing for the convention and we are also watching the antics of these elements, who are all out to distort the party, we can’t allow miscreants to run our party for us. The South-West will talk on our agenda at the convention.” Despite the insistence of the George group that the South-West should produce the next national chairman of the PDP at the forthcoming convention, the Udom committee reasoned that the party needs to win back the confidence of the people of the North in view of the disenchantment in the region during the 2015 general elections. The party had earlier adopted the report of Senator Ike Ekweremadu-led Post Election Review Committee, which zoned the presidential ticket in 2019 to the North. The implication of this is that both the presidency and national chairmanship position will remain in the region till 2020. But Jalo, the party’s Deputy National Publicity Secretary, said he was told by a member of the BoT that North-East will be allowed to produce the national chairman while the presidential ticket in 2019 will go to the North-West. Already, former Jigawa State governor, Sule Lamido has declared his intention to seek the party’s presidential ticket. Jigawa is in the North-West. But of all the zones in the North, PDP's best outing in 2015 general elections was in the North-East,

Jibrin

Leaders of the party... decided to ignore the zoning arrangement so that they could impose Sheriff on members

Okupe

where it won two states - Gombe and Taraba. Conversely, its worse outing was in North-West, where it was able to win only four House of Representatives and a state Assembly seats. Jalo, who is obviously campaigning for Governor Dankwambo, who will be completing his second term in office in 2019, to pick the presidential ticket, said the decision to zone the presidency to North-West was an unwise one since President Muhammadu Buhari of the All Progressives Congress (APC) is from the zone. "There is a sitting APC president from the North-West; that is Muhammadu Buhari. In the whole of zone, we have only one member of House of Assembly from Kaduna South, and four members of House of Representatives. How do you think a presidential ticket there can produce the expected result with Buhari as a sitting president? “That is my calculation, I may be wrong. But had it been that the presidential ticket is taken to the North-East, we have two state governors - Gombe and Taraba. And other states (from the zone) that are not PDP might likely give PDP votes. Then, you now go and get the votes from the South West, South East and South-South, in 2019," he reasoned. Despite the reasons by the Udom committee to justify why it opted for the North-East for the PDP’s national chairmanship position, the general belief is that Sheriff lobbied for the position to be zoned to North-East in order to extend his tenure. There is also the belief that despite the calculation that the North-West will produce the party’s presidential candidate for the 2019 elections, Sheriff is equally interested in the presidency and he may likely resign as national chairman in 2018 to contest for it. No doubt, Sheriff has the constitutional right to aspire for both the PDP national chairmanship and its presidential ticket, but George has a word of advice for him and the party’s leadership. He said: “Our National Chair-

man, Senator Ali Modu Sheriff, has a very significant role to play in this crucial transitional process as we move towards our congresses and the national convention. His task is very daunting and challenging. I wish him God’s guidance as he manoeuvres carefully in re-establishing a solid foundation for our party. I implore him to be faithful to his words and his promise in the processes of giving our party a new, strong and firm foundation. “I want to believe the chairman is an honourable man. He must honour his word to handover to an elected chairman at the national convention on May 21. This is the only way that he will be on the positive side of history.” Okupe, who shares George’s view, in his reaction to the PDP’s NEC adoption of the Udom committee recommendations, said the party had “entered the road to perdition” with the decision. His words: “The PDP has now entered the road to perdition with the appointment of someone who’s only known public image is that he’s a Boko Haram sponsor. This is shameful, and I hope all Nigerians, especially loyal members of the party, reject this unfortunate development.” He added that the decision of the PDP’s NEC, is another slippery slope that the party is unlikely to escape. “These leaders of the party in NEC decided to ignore the zoning arrangement of the party so that they could impose Sheriff on members; this is a very dangerous cliff that the PDP can never escape. It is over for the party.” But Governor Dankwambo, who spoke on behalf of the PDP Governors' Forum after the NEC meeting pledged that the party will abide by the decision reached. "As a party and democrats, we are bound to have disagreement and agreement on issues but once the party takes position, as party members and democrats, we are bound to follow the decision." The assurance, notwithstanding, the question is: How many PDP members are going to abide by the NEC's decision?

POLITICS

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Yuguda: What next after PDP exit? In this report, Nankpah Bwakan, writes on the recent exit from the Peoples Democratic Party (PDP) by former governor of Bauchi State, Mallam Isa Yuguda. He also looks at the prospect of the former Minister of Aviation in his likely destinations

he recent dumping of the Peoples Democratic Party (PDP) by former governor of Bauchi State, Mallam Isa Yuguda, started like a rumour. Even his former aides debunked the insinuation and assured party supporters that the former governor will remain in the party. But, Yuguda took many of his supporters and opponents by surprise last weekend, when he announced his defection from PDP but he didn’t disclose which party he is likely to join. He made the disclosure via a telephone interview at a press conference organised by his former aides and supporters at the Nigeria Union of Journalists (NUJ) Centre in Bauchi. Since Yuguda's defeat by Senator Ali Wakili and subsequent defeat of his preferred governorship candidate Hon. Auwal Jatau by the incumbent governor, Alhaji Mohammed Abdullahi Abubakar of the All Progressives Congress (APC) during the 2015 election, it became obvious that Yuguda was going to dump the party. On which party he is likely to join, Yuguda said after due consultations with his supporters, he will decide on which party they should move to but asked his supporters to decide for themselves whether to leave PDP or remain in the party. According to him, "already I have told my supporters that I will not force them to leave PDP. Anybody who wants to remain in PDP is free to do so and whoever wants to move with me is welcome. I decided to leave PDP because the party can no longer bring development to Nigeria, it is unfortunate that the party has lost focus,” Prior to his defection, Yuguda's former Commissioner for Information, Alhaji Shehu Baru, while briefing newsmen on behalf of his colleagues, said the former governor is not planning to leave the PDP but will rather remain in the party to help correct the mess in the party. He blamed the state of the party on former President Goodluck Jonathan for imposing himself as the party’s presidential candidate which led to the defeat of party. He said: " We kicked against Jonathan's ambition and told him in clear terms that the party will not win but he insisted. This was part of the mess PDP made in addition to imposition of leaders and candidates on the people where people were not allowed to practice the real democracy. We

Yuguda

are going to fix the party to bring it back to life and allow it to flourish like any other political party in the country." But during the last election, Bauchi State also witnessed imposition of a governorship candidate by Yuguda. Political analysts in the state attributed the defeat of PDP in the state to the selection of Jatau by Yuguda amongst other qualified, experienced and well connected aspirants. The list of those who vied for the governorship of the state under the platform of PDP are; former Minister of Federal Capital Territory (FCT), Senator Bala Mohammed fondly called “Kaura Bauchi”, State minister of Health Dr. Mohammed Ali Pate, former Secretary to the Government of the Federation, Alhaji Mahmood Yayale, Senator Abdul Ahmed Ningi, Senator Babayo Gamawa, immediate past Secretary to Bauchi State Government, Alhaji Aminu Hammyo and Senator Ibrahim Gumba. For many, Yuguda’s settlement for Jatau, whose highest educational qualification was Diploma in Nursing Education, was for his own interest as against popular opinion of who should represent the party. At a perceived arranged governorship primary election for all the aspirants, the governor’s anointed candidate emerged the winner after polling 368 votes to defeat his closest rivals who scored 116, 86, 20 and 3 votes. Senator Gamawa and Pate staged a walked-out, protesting the outcome of the primary election and rejecting the result. They called for the total cancellation of the election as it did not reflect the true wishes of party members. While events of 2015 is now history, reactions have continued to trail Yuguda's exit from the PDP.

His exit is a blessing to us in disguise because the persisting leadership crisis in the party will disappear

A former member, House of Representatives and chieftain of the PDP in the state, Hon. Abdulrazaq Nuhu Zaki, said the exit of Yuguda from the party will not affect its fortunes in the state. Zaki described Yuguda as a huge burden to the party and that his exit was a relieve to the party, saying that Yuguda dragged the party into crisis that tore it apart because of his desperation to control the party in the state. He said: “With God on our side, the PDP will emerge victorious in the coming elections as we are working hard to reposition the party in the state. His exit is a blessing to us in disguise because the persisting leadership crisis in the party will disappear." It was gathered that many of the 2015 governorship aspirants in the state still harbore hatred for Yuguda over what they perceived as betrayal on the part of the former governor. Yuguda’s other perceived sin was betraying the people when he dumped the defunct All Nigeria Peoples Party (ANPP) and even betrayed President Muhammadu Buhari, who they have great respect for. Buhari has never lost Bauchi since he started contesting for presidential elections in 2003. Yuguda himself was elected for the first time in 2007 because of Buhari’s goodwill in Bauchi State. The people voted for him in protest against his predecessor, Adamu Mu’azu, simply because he imposed the then Secretary to the State Government, Alhaji Umar Nadada as PDP candidate and allocated the ticket of Bauchi South senatorial seat to himself. He and his political son were defeated by Yuguda and his then personal assistant, Senator Bala Mohammed. Yuguda did not only betray Buhari but humiliated him when he visited the state for the wedding

between the son of former VicePresident Atiku Abubakar and Mu'azu's daughter. On arrival in Bauchi, Buhari was allegedly taken to one of the government lodges under the directive of Yuguda on the pretense that the wedding Fatiah has not commenced even when the couple had been joined together. When Atiku did not see his guest after the wedding, he decided to put a call across to Buhari and it was alleged that Buhari told him where he was cooling off as he was told that the occasion was yet to commence. Buhari left the state in shame and for Yuguda, he had pleased his then boss, Jonathan, and his expectation was that he would be compensated with the position of governor of the Central Bank of Nigeria (CBN). But his hope was dashed when Jonathan picked the present governor - Godwin Emefiele. While Yuguda's next political move is unclear for now, some of his supporters are sayin that he is likely to be appointed as CBN governor by President Buhari as he will soon defect to APC. Some of his close political associates are however of the view that Yuguda and other politicians will come up with a new party, Peoples Democratic Movement (PDM) as he is nursing a presidential ambition. Those who believe that Yuguda is likely to join APC, said he is known for jumping from one party to another as he first jumped from PDP to the defunct ANPP and then back to PDP. Either way, the decision would be difficult for Yuguda as President Buhari is believed to be the leader of APC and Atiku is perceived to be the founder of PDM, and as such, he might not be received in APC or even if received, he will not be given a prominent place in the party. If truly Atiku is the founder of PDM, Yuguda will suffer the same fate in the party. However, the Bauchi State chapter of APC has said the party will receive Yuguda whenever he approaches it for membership registration but that he must accept to obey the party’s constitution in addition to other conditions that wiould be given to him. The state Publicity Secretary of APC, Auwalu Aliyu Jallah in a telephone interview, said: "Of course, as a party we will give him conditions to follow before we can register him. He must be willing to abide by the constitution of the party. "As a party, we have a constitution and if Yuguda or any other politician indicates interest in joining our party, we will give him/her our constitution to read and if they are okay with it, then he/she will write an undertaken to obey the constitution." As it stands, Yuguda's opponents believe that nemesis is already catching up with the former governor even as they expressed the belief that no party will take him serious to even want to trust him with any responsibility. They alleged that he destroyed theANPP in the state, dumped the party for PDP, which he also destroyed and has as well dumped.

POLITICS \ MONDAY INTERVIEW

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Ortom

Ortom: Critics should allow APC concentrate on governance Benue State Governor, Samuel Ortom, was on President Muhammadu Buhari’s delegation during his recent state visit to China. He thereafter, anchored business and investment fora between Chinese businessmen and major stakeholders in the North Central States of Nigeria, as well as financial and investment institutions in both countries. He speaks on the gains of the trip and some issues of concern. CEPHAS IORHEMEN reports What informed your visit to the assembly plant in Wuzheng, China in the course of President Muhammadu Buhari’s recent visit to the country? You can see that Benue State is the Food Basket of the nation, and that at a personal level I’m a farmer. The assembly plant is deeply into production of agricultural machinery in China and it is one of the best in the country. It also has some little presence in Benue State. I felt like going there to encourage them because they are already doing some trading in agricul-

tural machinery like tractors and other farm implements in our state. I discussed with the president and chairman of the group in order to ensure that we do not just go into trading of these machinery but to start an assembly plant in Makurdi, the Benue State capital. Apart from the benefits of having these equipment close to farmers in the Food Basket of the nation, the assembly plant will also generate jobs, create opportunities and create wealth because it will be a center to service neighbouring states, especially

We have three more years ahead of us, let us focus on governance

those in the North Central part of the country. I took advantage of Mr. President’s visit to China, which opened up many opportunities for Nigeria. I am happy that I was part of the delegation and I took maximum advantage of the visit in order to ensure that my state benefits from it. That was why I visited the assembly plant and I am glad that an agreement has been signed. The chairman of the plant has agreed to start an assembly plant in Makurdi and has directed his people to do a feasibility study on how this can be done. I think that within the shortest possible time the benefits would be there with their practical presence. Can you further disclose other gains of your trip to China? They are massive, even though we have not finished the signing of Memorandum of Understanding (MoU) and agreements with different provinces that have indicated interest that they want to partner with Benue State. But I can assure you that more opportunities have been opened up for the people of Benue State because I had the opportunity of showcasing our potentials as a

state in the areas of agriculture, solid minerals, as well as culture and tourism. The people were quite receptive to these and it is happening at a time Mr. President visited and signed several agreements of friendship and bilateral issues that affect the two countries. I have noticed that the average Chinese man and woman are quite receptive. I am happy about the visit, especially now that they have so much and are looking for opportunities to invest outside their country. I am discussing with quite a number of them and during the Trade Fair the chairman of Benue Chamber of Commerce was here with a delegation from the chamber and other government officials who accompanied me. We have gone into discussions with several Chinese investors and businessmen with emphasis on establishing their plants and factories in Benue State, so that we can get maximum benefits out of these. We are not just looking at trading, but for members of the Chamber of Commerce in the state, who are willing, can start with trading because that will also be of benefit to our people. We believe that this foundation

POLITICS \ MONDAY INTERVIEW

MONDAY, MAY 2, 2016 NEW TELEGRAPH

to produce high standard and quality products and I can attest to this. Gone are the days when people used to criticize China, they should come here and see. I think that people who criticize me for looking towards China are completely ignorant about what is happening around the world. They should travel to America and go to the shops, 70 per cent of what you see on the shelf of an average shop in America is produced in China, the same thing in Europe, the same thing in other parts of the world. This is where it is happening and that is why they have made a lot of progress. For me, I want my state to develop, I want my state to progress, I want my administration to make an impact on our people and I have identified and seen that the way forward is China, that is where the whole world is going. We went to Canton Trade Fair, for instance, and the entire world was there, from America, Europe, India and other parts of Asia, they were all there. These people have had a breakthrough and come to think of it, this revolution that we are seeing in China took place just about 30 years ago. It took place within 30 years. It is quite challenging for anyone who goes to China. If you are someone with a development heart, you will be challenged to replicate it back home and that is the challenge that I have. I am not just folding my hands, I have always told people that please identify something and do. Everything that concerns every human endeavour can be found in China and our people should take advantage and let us together develop Benue State and Nigeria.

Ortom

that we have laid with the President’s visit, the trade fair and the visits that we have paid to several provinces, will definitely generate positive results for our state. For instance, we’re discussing with the government and people of Guangzhou about an agreement with them, so that Makurdi can become a sister city to Guangzhou. This will bring a lot of benefits. Before you know what is happening, someone who just heard our discussion went into discussion with his government in a different province and they decided that we should come and sign an agreement that they want to partner with us, an investor who is willing to come to Nigeria and Benue State in particular by May. He is willing to invest in agro processing and tourism. He is also willing to invest in solid minerals. We have gotten investors, who have indicated interest and I have given them invitation to visit the state. The Nigerian Mission in China is really supportive of these initiatives arising from the fact that our business forum for two

days at the Hilton in Guangzhou was a great success. The Chinese investors and the people from the North Central States that came, displayed commitment and enthusiasm to ensure that we go into partnership. I believe that things will work out. The business forum was a very big success particularly for Benue State which anchored it. I can assure you that the benefits are already there. What is the attraction in looking towards China rather than other parts of the world, especially Europe and America? Our people say that ignorance is darker than night. When you are not fully informed and knowledgeable about certain things, you may be confused. Today in the whole world, if you go to other parts of the world, America, Europe, other parts of Asia, you will see the presence of China whether by way of the people or their products. Gone are the days when we experienced substandard products from China. Today they have the capacity

I want my administration to make an impact on our people and I have identified and seen that the way forward is China

There were allegations that you siphoned over N34 million from government coffers to spend on the trip in the face of the excruciating economic crunch and non-payment of salaries of workers in the state. How would you react to this? For me, its money that makes a good soup; if I fold my arms and sit in one place while our industries are not working, technology has gone very far and we cannot identify this and bring to the state to effect development, then what are we doing? You must not eat your seed if you want development, if you want to prosper, if you want to make progress. You must learn how to use your seed wisely, so that in time of harvest, you can harvest more, that’s what I am doing. In any case I did not take money outside my entitlements; the same applied to other members of the delegation. Is it the commissioner or the Director of Industries that you don’t want to attend the Trade Fair? Is it me that Mr. President invited because of the strategic role that Benue State has on the map of Nigeria, to accompany him to China that would have said no because we have no money? I want to appeal to those who seek to make political gain by criticizing this government to please reason because politicking is over. We have three more years ahead of us, let us focus on governance. Let them bring ideas, let them go back and check what the other government was doing before we came in.

I have not been traveling, go and check the records. How many times have I travelled out of Nigeria since I became governor? I can assure you that for this purpose, the state stands to benefit far more than even myself and the people who travelled with me. I didn’t make the trip for personal reasons. I am not the type that travels for fun or for leisure. This is my first time of travelling to attend a trade fair outside the country since becoming governor. But this and the other trips have mostly been at the invitation of the President. In any case, those criticizing should go and check whether I have done anything outside the rules or outside my entitlements. Some people said you abandoned the trade fair in Makurdi to attend the one in China… The Deputy Governor and I are on one ticket. If the Deputy Governor is present at any function; that is me. We are on one ticket, anywhere you see the Deputy Governor that is me. Of course, I did organize that trade fair and I told them what I wanted and we have achieved results there too and so what is the essence of two us being there? If I had not been to China, the achievements we have recorded wouldn’t have been there. I think they are just criticizing for political reasons, I don’t see how a reasonable person would compare Canton Trade Fair to the Makurdi Trade Fair. The Canton Trade is worldwide and the entire world was there. It is what we got from there that we can use to make the trade fair in Benue more vibrant next year in terms of empowering them through machinery and several other benefits. Does your current investment drive have any link with your experience as a former minister in the Ministry of Industry, Trade and Investment? I started going to China during my days as Minister of State, Trade and Investment. I believe that now that there is a downturn in our economy, we must think out of the box and the way forward is about trade, industries and investment. We are doing trade in order to ensure that we balance whatever comes in and whatever goes out. We are going into industrialization, so that we can process our primary products. With that we shall be getting multiples of opportunities – creation of jobs, creation of wealth, and creation of opportunities within our state and country. I believe that all these will support our micro, small and medium scale enterprises, and these will support investments to come into the state because standing on our own, we do not have enough to do the investments. That is why I laugh at those who say I shouldn’t have being on the trip. How will you get investors when you do not reach out to tell the potentials that you have? We have reached out and invited people to visit us and see things for themselves, and some have already made commitments. All these are things that I learnt at the Ministry of Industry, Trade and Investment and I am trying to replicate them in my state.

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Opinion Apparitions in Oyegun’s dreams Dominik Umosen

f you scoff at the National Chairman of the ruling All Progressives Congress (APC), Chief John Odigie-Oyegun’s allegation that evil forces and economic saboteurs are sabotaging efforts by Pres ident Muhammadu Buhari to move the nation forward, you underestimate the impact of these apparitions. The former Edo State governor identified Governor Ayo Fayose of Ekiti State, as contributory to his ordeal with his ‘high level insensitivity to issues affecting the country’. We bet our last kobo that Fayose’s qualification for insensitivity is his rib-cracking visit to China on the eve of a similar visit by the president where Fayose robustly campaigned against the Six billion dollars loan which China promised the Federal Government. Special Adviser to the President on Media, Mr Femi Adesina inherited the ordeal of explaining that government did not obtain the widely-reported loan from China after all. Bother not about details or malignancy of threat posed by enemies appearing as apparitions bent on sabotaging efforts to move the country forward. Such allegations are discomfiting and rattling to the party leadership, forcing the chairman to berate these evil apparitions which, he said, defy temperance by the resilience of patriotism. If the governor ratifies this unflattering profile, he has not indicated it. Specifically, the governor rattled members of the Federal Executive Council (FEC), who temporarily relocated to China as part of the entourage for the president’s weeklong visit. Rubbishing the president’s good intentions stupefied his hosts and also deepened international dismay with this hilarious hard political tackle,

in addition to sparking fresh debate regarding the economic wisdom in consolidating the country’s debt profile which lingering trauma from the fuel crisis simply magnified. The diplomatic muddle Nigeria found herself as a result is unprecedented and created shudders among the hosts and in the international community. Many folks still pinch to re-assure themselves that the loan, which constituted counterpart funding for some projects by the administration, actually went up in smoke. Perhaps, the APC chairman is unaware that frustrating malignant apparitions is a service that is already volunteered. If the party is serious about ending these apparitions, the administration should investigate legitimate reservations of those who spat at the hypocritical presumption that the new political order is corruption-free, moral corruption inclusive. For a confirmed political apparition to mock anti-corruption efforts as unreliable enough of trust with a loan China promised the country is reminder to politicians of the urgent challenge to detoxify trending politics. Before now, it was inconceivable that the murky twirl of venomous toxins ruling party politics could inspire ambush for the president. The glitch in Beijing reminds you of Chief Dan Etete’s fable about a robust dance in the market square by recalcitrant elders who ignored the traditional restraint imposed by age. Beyond possible unpredictability, the ambush graphically illustrates the havoc uncomplimentary name-calling as patented by the ruling party can cause if deployed for political mischief. The time for scapegoats will come after the party disproves consistent allegations that, for a ruling party, it is deficient in decisiveness. The glitch in China requires explanation, just like the economic wisdom in a bloated

No evil conspiracy against President Buhari can dilute his genuine intentions

retinue and its mockery of prudence. The capacity for evil in these apparitions should not be exaggerated because the consequences of tardy judgement are identifiable. No evil conspiracy against President Buhari can dilute his genuine intentions which should compensate as desired impact in managing a complex entity. When that explanation eventually comes, those weary should be reassured with a rational explanation, instead of gruff ‘talk downs’ from The Presidency. Further allegations of evil conspiracy and apparitions sound like after-thought given the party’s transparent lack of interest to challenge those claiming capacity to bind and scatter evil forces allegedly frustrating the administration. Tackling the past for every challenge is as heartbreaking as failing to sustain goodwill or the rib-cracker excuse that diversion of petroleum products to Cameroun and Chad is responsible for the lingering fuel crisis. The signature failure to consolidate electoral victory with election of preferred candidates for leadership of the National Assembly defined a particular moment of inelegance for the ruling party. Thereafter, other embarrassing moments haunted the party till the chest-deflating excuse that the party is preoccupied with clearing the mess inherited from the PDP. It is accepted that the genocide is in Agatu traceable to herdsmen, not an evil conspiracy. But two feuding states controlled by the party signpost a divided house that is addicted to conspiracies by apparitions than prevent atrocities like the massacre of Nimbo farmers in Anambra by herdsmen that redefined failure of the administration to guarantee protection of law-abiding citizens from untouchable criminals whom the Emir of Ilorin, Dr Sulu Gambari describes as not Fulani but desperate criminals taking advantage of the country’s security situation. •Umosen (dominik.umosen@gmail.com) wrote in from Lagos.

Biafra: Enemies in our midst (5) Boniface Alanwoko CONTINUED FROM LAST MONDAY

hose who volunteered to carry the Cross have ended up carrying the spear. How can one explain the scandals and crises rocking MASSOB today? From MASSOB, we now have IPOB, and Biafra Independent Movement (BIM). Almost on daily bases, you get riled up on what you read on the pages of the newspapers, concerning MASSOB and BIM, as they have resorted to dragging themselves through the mire. Their unpardonable feuds and the scandals now being unearthed have more than anything else damaged the moral convictions most non Igbo have for the struggle. In one instance, Chief Ralph Uwazuruike, was accused by his colleagues of laying his fingers, severally, in the till of MASSOB and also derailing from the organization’s objectives. Consequently, a section of MASSOB’s leadership had asked him to account for his deeds. From newspapers’ account, rather than doing that, he labeled those calling him to render accounts, as nonentities whom he employed and brought up; acrimony ensued. He was expelled, and thereafter, he formed a new group called BIM. Meanwhile, he and the new leaders of MASSOB have to battering themselves on the pages of newspaper. To me, this is the height of infamy by any person or those who volunteered to pursue a cause as sacred as the actualization of the

state of Biafra. It is an act of unpardonable betrayal not only to hundreds of innocent and patriotic Igbo boys who have died chanting ‘on Biafra we stand’ but also to thousands of gallant Biafra soldiers who died in the civil war, fighting for the same cause. There certainly would be repercussions for anyone or group found in this degeneracy. Sometime ago, I became agitated when I found out that in the mist of agitation for the realization of Biafra Chief Uwazuruike , who said he had nothing again to do with Nigeria went behind to present Owelle Rochas Okorocha, to Chief Odumegwu Ojukwu, to be made Imo State governor. When I confronted a MASSOB leader, he denied that such betrayal could ever take place within MASSOB. However, I was dumbfounded when Mrs. Bianca Ojukwu, let the cat out of the bag, while trying to silence Governor Okorocha, who was equally denying the claim when the matter came up again, Mrs. Ojukwu categorically stated that she was with her husband, the day Chief Uwazuruike, brought Chief Okorocha for that purpose. She said after some discussions, Ojukwu, agreed and presented Okorocha to Imo State APGA. The rest is history, as they say. In early 1969, when the war got fierce at Okpala Sector (war front) and I was assisting the sparsely clad and equipped but hardfighting members of the 52 Battalion, Biafra Army. A Biafrna soldier of Ogoni descent said to me: “Bon, remember this, not every Igbo are a Biafra and Biafra cannot accept every Igbo. There are non Igbo who are more Biafra than most Igbo. But the day Igbo in Biafra start to misbehave, Biafra will cease to exist in the hearts of many. ” He was commenting on the report of an incident, where

stragglers (renegade Biafra soldiers) stole a bicycle—the only means of survival—of a malnourished Igbo man, at a village, near the war front. Well, fellow compatriot, a word is enough for the wise. We must bear in mind that, he who comes to equity must come with clean hands. Let me declare here that only the Igbo are preventing Igbo from actualizing Biafra. In fact, it is Ndi Igbo that are jeopardizing this quest and not the President Muhammadu Buhari and his pretentious accomplices. He cannot be a dogged defender of Fulani’ interest and insist the Igbo should not fight for their own rights and freedom. The highhandedness employed in dealing with the agitators and the continued incarceration of Nnamdi Kanu and co by Buhari is as a result of cues and support he is getting from some Igbo individuals, elite and groups. Look at this, in all that has been happening recently, the preoccupation of Ohaneze, seems to be on how to garner more federal appointments for their members or rush down to Lagos to arbitrate in disputes between some overfed-so-called Igbo chiefs and ezes of Lagos State and elsewhere. Even the challenge Buhari threw to Ndi Igbo to substantiate their claims of injustice and discrimination has remained unchallenged. Rather, what we hear or see are vacuous and misguided Igbo attacks on innocent Igbo youths who have taken it upon themselves to oppose a systematic degrading of the Igbo nation. Perhaps, this turn of events in Igbo land today is not entirely unexpected. Every tribe must reap what they have sowed. The Igbo cannot sow cocoa yam and hope to reap yam. At the end of the civil war, those who actually fought and gave their best to prosecute the war were so psychologically demoral-

ized and famished that it took them time to come to terms with what had happened. Therefore, it was difficult for them to gather their thoughts and means together for any meaningful engagement, for a long time. As a result, 60 per cent of those Igbo who jetted out and began to prosper, especially, outside Igbo land, were those who played ignoble roles in Biafra and were anxious to escape prosecution by their kinsmen. Incidentally, they went all out to gain every advantage, irrespective of whether the Igbo general interest or welfare was sacrificed or not. It is this group, besides themselves, who had succeeded in planting their relatives and cronies in all strategic positions reserved for Ndi Igbo, who are today standing in as Igbo leaders. To tighten their grip and monitor all that goes on in Igbo land; they become adept at deploying their ill-gotten wealth which enables them to be at the forefront of most Igbo affairs, from where they could regulate or frustrate any genuine efforts being made by patriotic Igbo that are not in their interest or that of their principals. For this reason, the centre can no longer hold in all Igbo affairs, as the Igbo ship has continued adrift without a genuine captain. Perhaps, what exacerbated this malaise in Igbo midst was a well orchestrated scheme hatched to permanently keep the Igbo down immediately the war ended. From 1970, Nigerian power brokers were too eager to recruit Igbo turncoats, empower them and unleashed them as their stooges and attack dogs against their kith and kin. It was a deliberate plot to harness those unscrupulous Igbo and use them when the need arises to destabilize any good Igbo plan. • Alanwoko, a journalist, writes from Lagos.

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As we mourn Ekiti doctors

n other climes this calls for a national emergency as statistics show that more Nigerians are killed in road traffic accidents, most of them avoidable than through war or natural disaster. Every new day brings with it sad news of crashes and blood spilled on our roads as much as cows are slaughtered in some major markets. Ekiti state is still in mourning following the death of six of its medical doctors on the KadunaAbuja Highway. They were part of a busload of 12 travelling to Sokoto to attend a Nigeria Medical Association [NMA] meeting. Six of them were lucky to survive. The departed include Alex Akinyele of the Federal Teaching Hospital, Ido-Ekiti [FETHI], Ojo Taiwo of the Ekiti State University Teaching Hospital, EKSUTH], Ado-Ekiti, Atolani Adeniyi, Tunde Aladesanmi, J.B. Ogunseye and O. Olajide . The driver of the mini bus, Ajibola ,also lost his life. The survivors had disturbing stories to tell. Dr. Stephen Ayosanmi, forgot his pain as he bemoaned the state of Doka General Hospital, some 70 kilometers from the accident scene. According to him, the casualty figure would have been less if the injured had received prompt medical attention. Officials of the Federal Road Safety Corps [FRSC] seemed to have been more interested evacuating the dead than helping survivors. If there was proper first aid

treatment, a few lives would have been saved immediately after the crash or even on the way to Doka. The hospital was just that in name as there was no medical doctor on duty. The nurses were not useful as they had more questions than answers. One can therefore feel the pains of the survivors especially those who were willing to help but were handicapped because there were no handy drugs and equipment. Dr. Folu Ekundare did not spare the FRSC especially after the Sector Head of Operation , Deputy Corps Commander Salisu Galandanci blamed the driver for over speeding. He said,” I was

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going through. It is significant that the doctors realized what compatriots get from their colleagues. In a General Hospital, there was no doctor on duty and there was an emergency situation. The nurses were no use in any way and that is what goes on in most public hospitals. The survivors also realized that those who were actually supposed to be part of the rescue effort were also not of help. The police patrol vehicles did not have enough fuel to evacuate

Road Traffic accidents are the leading cause of death in the country

in the same vehicle[and sat] in the row behind the driver and I checked the speedometer from time to time. The bus also makes a beeping sound once the speed exceeds 110 Kilometres per hour. Let me state categorically that the bus driver was not speeding. The FRSC are probably only trying to justify their intention to sell their speed limiting device to Nigerians hence associating every possible accident to excessive speeding. And it is sad that they would even attempt to use such a sad event to do such.” The two accounts say so much about the rot this country is

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the dead and move the living to safety. In their pains ,the doctors had to provide money to search for fuel. This is our collective

shame, one of the leading oil producing nations in the world. Many Nigerians die on the road daily, that is no news. The poor die, the rich also perish. However, it is only when tragedy affects the high that the nation quakes. It was on the same Kaduna – Abuja road that a minister, James Ocholi, died with some members of his family in March. The FRSC blamed the driver. We should also start telling those who should maintain our roads, hospitals and agencies the home truth. Money budgeted for maintenance of roads and hospitals is either not released early

enough or diverted to individual pockets. It is difficult to explain that the police and FRSC, vital government agencies cannot even help in an emergency. Road Traffic accidents are the leading cause of death in the country. Statistics show that in 2012, there was an average of 11 deaths per day. That led the then minister of Health, Professor Onyebuchi Chukwu to declare that Nigeria recorded the second highest road traffic fatalities in the world. Globally, there are 1.3 million deaths annually, with 50 million injuries. Between 2009 and 2013, 30,435 Nigerians died on the road. The figure rose to 49,867 from 2013 to 2015. What a coincidence that the NMA once again lost members in a crash on their way to Sokoto. That was what happened on October 29,2006, ten years ago, when a Sokoto bound ADC flight crashed a few minutes after take-off from the Nnamdi Azikiwe International Airport, Abuja. Some of the passengers were doctors on their way to the seat of the Caliphate. Among the dead was Dr. Nnennia Mgbor,the first female West African ENT surgeon and daughter of nationalist Mbonu Ojike. While we mourn, government should look at the issues raised by this loss. Our hospitals are not working, the doctors may not always be there, FRSC without equipment means a lot and a handicapped police team is unacceptable.

MONDAY, MAY 2, 2016 NEW TELEGRAPH

monDAY, may 2, 2016 NEW TELEGRAPH

Interview

Law

Quarkers: Gender equality bill unnecessary

News Anger as judge reverses judgement three months after

File: Suspects on parade

Stopping suspects’ parade

Does the parade of suspects by the police contravenes Sections 34, 36 of the Constitution and Article 5 of the African Charter on Human and Peoples Right (Ratification and Enforcement) Act? Lawyers say yes. TUNDE OYESINA writes

e lives in Sango, a border town between Ogun and Lagos state and works in a private firm on Victoria Island, Lagos. Shola Adeterewish, an engineer leaves home every day at 5am and returns at 10 pm on a normal day when Lagos traffic is light. But the acute fuel scarcity which had hit the nation like a volcanic eruption since the beginning of this year had forced Adeterewish like other motorists to abandon his Toyota Camry at home for the public vehicle. In one of his trips, Adetere wish

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was unfortunately, stranded, while waiting for a bus that would convey him to his next destination when the police swooped on him and others at a Bus stop where he was arrested. Four days after, Adeterewish was paraded by the police as they were tagged armed robbers. It took days of legal fireworks before he could be cleared of the alleged robbery tag on him, no thanks to the country’s legal system. Today, he had sued the police for defamation. Others in his shoe were not lucky. A few years ago, a Federal High Court in Lagos had declared police parade of suspects illegal while awarding damages against the police, yet nothing has changed as suspects are being paraded openly by the day. A forthnight ago, the Indigenous People of Biafra protested against the manner in which some of its members were arrested and paraded half-naked on the grounds of breaching the peace while agitating for the actualisation of a sovereign state of Biafra.

Scores of suspect who are today freed, discharged and acquitted by the court are living with the scar as they had no opportunity to tell the world that they were wrongly accused and paraded by the police. A former Inspector-General of Police once counseled all police units across the federation to stop the practice of parading suspects while they were under investigation as required by the rule of law. Yet, across the 36 states’ police commands and the FCT, suspects day in and day out, to the delight of the media are being paraded by the police, including the State Security Service (SSS) officials, when it is obvious that these suspects have not yet had their day in court and as such, cannot conceivably have been convicted by a court of law. Although it is the norm by the police and other agents of the State to parade suspected criminals before their arraignment and commencement of trial contrary to the constitutional

20 23

provision of presumption of innocence, do such powers to parade suspects contravene the right to dignity of human person? If yes, why has that not been challenged in court? Lawyers say yes. They said it is a clear departure of what the law provides. The law, according to them allows identification parade to enable a victim or witness identify the actual person that committed a crime and not suspect’s parade. Specifically, it is known as identification parade. In other words, it is to enable a victim to identify an offender by a victim or a witness. This is known in the United Kingdom as Police Identity Parade. But it is far from identification parade in Nigeria as the police have made it to look as a ‘public display’ of criminals. Lawyers who spoke to New Telegraph at the weekend accused the police of not only deliberately flouting the law but making the law stupid before Nigerians as the parade of suspects before conviction was nothing but a breach of suspects’ fundamental human rights especially when every accused person is presumed innocent until it is proven otherwise by a court of law. Suspect’s parade is a method introduced by the United Kingdom Criminal System and it is called Police Identity Parade. The parade is meant for the identification of an offender, which forms a key aspect of any criminal conviction. This identification may be done by the victim of the crime or a witness if there are any available witnesses and in most cases both. Going by the practice, if an individual can be identified as the offender then this piece of evidence will be one of the first pieces used in a criminal trial with both the victim and any witnesses required to repeat the identification before the court. The traditional method of identifying an offender was to use a police identity parade. During a police identity parade, a line of suspects will be required to line up with either the victim or a witness able to view the parade from behind a screen. Often the potential suspects will be required to repeat a sentence which the victim or the witness would have heard. This will enable the victim or the witness to identify the offender both by sight and voice. During a police identity parade it will usually be the case that the police are aware of whom the suspect is due to their investigations and the identity parade will be used simply as confirmation that the suspect is in fact the offender. If this is the case, other members of the identity parade may be police officers or simply people the police had picked off the street. However, looking at the practice in Nigeria, one would hardly believe that the Nigeria Police has the same motive while parading suspects. This is because of the way and manner it parades suspects of crimes. CONTINUED ON PAGE 24

20 Law|Interview

monDAY, may 2, 2016 NEW TELEGRAPH

Quarkers: Gender equality Ikoyi. The question is what is the salary of a level 17 civil servant? Is it such that can earn him a property in Ikoyi or Victoria Island? So, some of them on account of that, will stay away. So, what then happens to the accused person? Is that bail fair? Is it real in view of the contemporary Nigerian environment? So, that in itself is a problem. In other developed societies, bail is granted after the conclusion of investigation and you’re taken to court. In other words, the case is ripe for hearing. When you appear in court you will be granted bail. It could be your house title document, the court may ask you to provide sureties or it could be on personal recognizance. It is because our criminal justice system is not as effective as it should be and the anti-graft bodies are not working the way they should. The court must not appear to impose bail conditions that are unrealistic. For instance, a man has been arraigned for stealing N500 million and you ask him to bring two sureties whose total assets will be N500 million. What you are simply saying is that the accused person stands guilty and it is for him to proof his innocence. That for me should be looked into.

Norrison Ibinabo Quakers, a Senior Advocate of Nigeria, in this interview with AKEEM NAFIU speaks on gender equality bill, stringent bail conditions plea bargain, ACJK 2015 and varied issues What is your view on the bill seeking equal marital rights for women? For me, it is a law that is totally unnecessary in the face of the provisions of the Constitution. Section 1(1) of the Constitution says that the Constitution is supreme and has a bidding authority over all persons and authorities. Again, Sub-section 3 of that portion of the Constitution says that any law that is inconsistent with the provision of the Constitution and to the extent of that inconsistency is null and void. If I go by that, the Nigerian Constitution recognises equality of sexes. Section 17(1)(a) of the Constitution under the social objective, talks about all being equal before the law. Even though we have maintained several times that the fundamental objective of the state is unenforceable. Unenforceable in the sense that you cannot go to court to seek for redress for yourself, but you can go to court to compel government to enforce it. The provisions of Section 42(1) that says no citizen of Nigeria shall be deprived of his benefit on account of his race, ethnic group, place of origin, sex, religion or political opinion is still in operation. So, the law recognises equality. So, why would a group of people now approach the National Assembly when the law itself does not recognise inequality? The Constitution says all Nigerians are equal before it. Now, any Nigerian woman who feels aggrieved where there are unfriendly policies can approach the court particularly as regards discrimination. Are you aware that there are other provisions in relation to violence under the Constitution? So, if a man or husband physically brutalizes his wife, it is actually a criminal offence. She has every right to take the matter to court by first reporting the issue to the nearest police station. In other words, we have enough laws that can cover the field. So, for me it’s like an additional law. Any Nigerian woman who desires to be anything in this country, the law recognises that right and there are no legal limitations to hinder such people. Your religion cannot stop you; your cultural beliefs cannot stop you in the face of clear and un-

Quarkers

ambiguous provisions of the Constitution. So, my simple submission is that it is not necessary to pass the gender equality law when the Constitution itself which is the grundnorm and the supreme law of the land despite its imperfections recognises that all are equal before the law. We must not create a division where it is not necessary. Many accused persons are always finding it difficult to perfect their bail following stringent conditions attached to their bail. Why is this so even when they are still presumed innocent? The grant of bail is constitutional and there is a presumption of innocence on any accused person. When a court grants bail, it is part of the rights the Constitution proffered on the accused person. What is the principle for granting bail? It is to ensure that an accused person is present in court for his trial. In the event that he absconded or he is not available for his trial the assets involved in the bail attached will be forfeited to the state. That is the principle. But some schools of thought are of the opinion that the condition attached to the grant of

Why would a group of people now approach the National Assembly when the law itself does not recognise inequality?

bail presupposes an accused person’s is adjudged guilty without a hearing because the bail conditions sometimes appear to suggest that a court has taken a position and that the accused person is guilty of the alleged offence and it is for him to establish his innocence. There is however a provision that says that if an accused person feels that his bail conditions appear harsh, he could approach the court with cogent and verifiable reasons why such conditions should be varied. Sometimes we compound very simple legal issues. So, if you feel that the condition is too harsh you can go back to the court. If the court that granted the bail refuses, you can go to the Court of Appeal and if the Court of Appeal refuses you can proceed to the Supreme Court. We have what you can call hierarchical court structure to review condition of bail. However, some sureties shy away from identifying with accused persons. I give you an example; when you say an accused person should provide a civil servant of level 17 as surety and that the surety should come up with a property on Victoria Island or

Some Economic and Financial Crimes Commission cases died on arrival on the grounds of multiplicity of charges. How does this affect the agency’s modus operandi? I won’t comment on the ongoing criminal cases. I am one of those who believe that some of the charges by EFCC offend the rules of drafting. The beauty of our legal system is that we have rules and regulations in terms of judicial process that we file and in terms of information in a charge. We must comply with those rules. I find it shocking that we could have 50-count-charge, 150-countcharge, and 200-count-charge. For me, it offends the rules of drafting. I think the time has come for prosecutorial agencies to get experts in legal drafting to micro-manage the case put forward to the court. Most times, hours are wasted in reading out the counts and by the time they finished reading out the 120-counts charge to the accused persons, you have already spent hours. So, aside from conducting in-house training, our prosecutorial agencies must also be exposed to international best practice in criminal litigation. We cannot continue to do things the way we are doing it. I am one of those who believe that when a case is very clear, there is no point wasting precious judicial time, an accused person could enter into plea bargain. But plea bargain is believed to be a pat-on-the-back, do you share the view?

monDAY, may 2, 2016 NEW TELEGRAPH

bill unnecessary

Law|Interview 21

It is because we have not done it well. You don’t strike a deal that will make people feel that the accused has kept his loot? There is something called interim forfeiture of assets. So, what is expected of an anti-corruption agency is to investigate and discover the assets before the criminal case is instituted. Without his knowledge, you approach the court by ex-parte and get a freezing order to stop the accused person from having access to those funds to fight back. I like to commend the Economic and Financial Crimes Commission because to that extent, they are working. But sometimes these cases are lost because they are not properly handled. When you have discovered all these assets, you confront the accused person with facts. You take a holistic approach and not a piece-meal approach to criminal prosecution. If we begin to cripple politically exposed persons who have amassed so much wealth while in government, we would not have people seeking political office as a means to an end. For me, plea bargain is not a pat-on-the-back because Nigeria is a country where we sometimes abuse certain privileges and take advantages of loopholes in our laws that is why some don’t believe in plea bargain. Why do you plea bargain? It is because you want to avoid the rigours of trial. How many former governors have been convicted from 1999 till date? It’s only one, rather we have trials that have been lingering. Are we saying we don’t know what Quarkers to do? What is your appraisal of the nation’s criminal justice system? I won’t say yes or no because the most fundamental thing is that we have the laws that address practically every sector of our polity and existence as human beings. But the challenge we have in Nigeria is our attitude and disposition to the enforcement of these laws. Until we deal with the issue of using political influences when breaches are committed, the efficacies and efficiencies of these laws will continue to erode us. That is why you find a common man without means convicted for an offence while the man with means will at the end of the day walk away a free man and conviction is not secured. How can the criminal justice system be strengthened? Firstly, you can’t strengthen the criminal system without the reinforcement of the institutions. I like what President Obama rightly said that the challenge with Africa is that our institutions are not strong. It is like you have a situation where institutions are built around human beings. And when a particular head of such institution is no longer there, it will nose-dive.

A law can only be effective when we apply ourselves to it. Our attitude towards the efficacy of law is what has rendered the law to appear ineffective and inefficient

he has to be in Abuja and I get to the court only to be told that the court is not sitting. Again, if a charge is defective, why must I go through the whole gamut of trial? Those are the issues. We must not be seen to unnecessarily apportion blames. Criminal trial is a serious work. I remember one of our judges that said ‘it is better for ten people to walk away free than for an innocent man to be convicted. Justice expended speedily might lead to injustice. So, we need an all stakeholders’ meeting. We must all believe in the Administration of Criminal Justice Law. If we are driven by the mind-set that foreigners must have trust in our justice system, we will work together. Take a look at the Civil Procedure Rules; the primary objective of the civil procedure rule is to ensure that things work smoothly. But, how many trial have we had or completed in record time? If we do it well, no trial should exceed one year. Would you say dearth of judges is also a factor for snail-speed justice system? I beg to disagree. Even if you appoint more judges, we will still have the problem because of our attitude. People will continue to take advantage of the loopholes. The only way out is for us to have a change of attitude.

EFCC under Mallam Nuhu Ribadu was quite effective. There was the awareness that he is the one running EFCC, it takes a man of conviction to run such institution. Even when some people accused him of selective prosecution, he was still very effective. But what now happened when he left? EFCC begin to nose-dive, the institution became another story entirely. It is like that with some other institutions. Look at NAFDAC under the late Prof. Dora Akunyili of blessed memory; after her we stopped hearing of crackdown on adulterated drugs and the likes. So, until we take out the individual and reform the institutions and make them stronger, we will continue to have such development. When the institutions are reformed, the laws become effective. In America, it is not about the man heading the institution, people may not know you, but there is more emphasis on the institution itself. What I am saying is that the laws are there, all we need is to strengthen the institutions. What is your assessment of the Administration of Criminal Justice Act 2015 one year after its existence?

Incidentally, I was in the committee that worked on the Administration of Criminal Justice Act. It was passed into law to address challenges in criminal litigation. Have we fared well since the law was passed? I won’t say no because we have tried to the best of our ability. Our major challenge has always being our attitude, the law can only work when people have positive disposition towards it. A law can only be effective when we believe in it. A law can only be effective when we apply ourselves to it. Our attitude towards the efficacy of law is what has rendered the law to appear ineffective and inefficient. I give you an example. If the law says once a criminal trial commences, it must be heard day- to- day. As a defence counsel, I am enjoined to co-operate with the prosecution in ensuring that the matter is determined day- to- day. Assuming one day I leave for court and I am held up in traffic. I am unable to get to court for the matter to be heard and the matter is adjourned. Can you attribute that to a deliberate attempt to delay? Assuming the judge on the day fixed for hearing of the case suddenly gets a call that

Some have picked holes in ACJA on the grounds that court must not stay proceedings in criminal matter. Does that also affect jurisdictional issue if it is under contention? The new law says the court will not stay proceedings. There are settled principles of law in relation to jurisdiction of the court. It is trite that once an appeal has been entered, the lower court’s power to proceed is frozen. The reason for that is that the lower court is expected to defer to the higher court. So, if you stay proceedings, it is to await the outcome of the matter at the Court of Appeal. So, the trial court is expected to stop. So, you don’t go on appeal for the sake of stalling the trial at the lower court. Criminal trial enjoys speed even at the appeal level. So, a lawyer must show industry for the court to hear the matter once and for all. In a jurisdictional issue, the Supreme Court has said in plethora of cases that a man must not be subjected to the rigour of criminal trial when you don’t have jurisdiction to entertain the case because if at the end of the day it’s found that you did not have jurisdiction, you have wasted precious resources and time. For instance, if a case of copyright is filed against a person at the state High Court and the defendant filed a preliminary objection challenging the jurisdiction of the court to hear the matter. But, the court says no, under the Administration of Criminal justice law, the matter must be heard dayto-day. The accused person has the constitutional right to go on appeal over that decision. Once you get the nod of the court, you compile your records.

22 Law|File

monDAY, may 2, 2016 NEW TELEGRAPH

N50 stamp duty: The statutory rule of interpretation Emokiniovo Dave-Akpedeye and Joseph Onele

hilst it is not in doubt that the Federal Government Financial Regulations 2009 (the Regulations) seek to regulate all government financial transactions, including the receipt, custody of and accounting for government revenue, the procurement, custody and utilization of government stores and assets, and the disbursement of funds from the major government funds, a cursory look at the preface to the Regulations will reveal that the Regulations are borne out of the concern of the government to ensure that requisite rules and regulations that would guarantee probity and transparency in the control and management of public funds and resources of government are put in place. Further to the foregoing, it is quite instructive to note that Regulation 105 specifically provides that the financial regulations will apply to the Federal Public Service, which in the context of the Regulations means ministries, extra-ministerial offices and other arms of government. As earlier mentioned, the statutory rule of interpretation namely, expressio unius exclusio alterius applies under the Nigerian jurisprudence. See Nawa v. Att., Gen. Cross Rivers State (2008) ALL FWLR (Pt. 401) 807 at 843, paras. F - H (CA). Again, while it may appear quite elementary that the Regulations are a means by which the government’s finance and accounting procedures are regulated, with a view to promoting honesty and transparency, an anomaly exists as to the statute empowering the enactment of the Regulations, a subsidiary legislation. It is a settled principle of law that a subsidiary legislation must be made pursuant to an enabling primary legislation. On this score, it is quite instructive to note the decision of the Court of Appeal in Njoku & Ors. V. Iheanatu & Ors. (2008) LPELR-3871 (CA) where it espoused on what a subsidiary legislation is and held as follows: “A subsidiary legislation…is one that was subsequently made or enacted under and pursuant to the power conferred by the principal legislation…It derives its force and efficacy from the principal legislation to which it is therefore secondary and complimentary.” In contrast, Regulation 105, which empowers the Minister of Finance to issue from time to time financial regulations merely states that this must be in accordance with existing laws and policies of government. One would have expected that the power to make the Regulations would have been traceable to an

enabling Act and ultimately, the Constitution of the Federal Republic of Nigeria. Of course, the authors are not unaware that the Minister of Finance can lay claim to Section 4(1) of the Finance (Control and Management) Act (the Finance Act) which mandates every person concerned in or responsible for the collection, receipt, custody, issue or payment of public moneys, stores, stamps, investments, securities, or negotiable instruments, whether the property of government or on deposit with or entrusted to government or any public officer in his official capacity either alone or jointly with any public officer or any other person, to obey all instructions that may, from time to time, be issued by the Minister or direction of the Minister in respect to the custody and Buhari handling of the same and accounting therefore. It is equally noted that the Finance Act is an Act to provide for the control and management of the public finances of the Federation and for matters connected therewith. Further to the foregoing, one might thus argue that the Regulations were made pursuant to the powers vested in the Minister under the Finance Act. Based on the above and as will be shown shortly, it cannot be correct to argue that the CBN has the power to not only expand the provisions of the SDA but to also assert that the Regulations apply to all manners of persons, notwithstanding the nakedness of legal support in this regard. It goes without saying that a body, which is a creation of a statute, cannot do anything at all, unless authorised expressly or impliedly by the Statute or instrument defining its powers. However, assuming arguendo that the Regulations indeed apply to all manner of persons and that the CBN can “expand” the provisions of the SDA without recourse to legislative intervention, it is respectfully submitted that the Regulations cannot by any stretch of imagination, provide legal comfort for the 2016 Circular. For instance, Regulation 620 provides inter alia that “Receipts given on payment vouchers are liable to Stamp Duty in accordance with the Stamp Duties Act.” In other words, the only person obligated to pay Stamp Duty in accordance with this provision is the issuer of a receipt given on payment vouchers as required under Section 89(2) of the SDA. Upon a careful read of the foregoing provision, it is unassailable that the liability to pay N50 stamp

Regulations in relation to amending the express provision of the SDA is unequivocally null and void

duty will only arise where a receipt is given for either payment for goods supplied or for services rendered is above N1,000. Driving the point home, where no receipt is given, taking for instance, an online transfer to another, it cannot be right to argue that such payment must attract the N50 stamp duty. In addition, a situation, like the instant one, where banks and other financial institutions were instructed to charge N50 stamp duty for every deposit (save to one’s account) does not accord with the spirit and intendment of the Regulations as will be shown shortly. Assuming without conceding that the applicability of the Regulations is not limited to only members of the Federal Public Service but to all persons, it is the writers’ position that mere deposit of money to someone else’s bank account(s), without more, does not trigger the obligation to pay N50 stamp duty. Rather, what triggers the obligation is the issuance of receipt, if any, by the bank for the banking service(s) rendered and receipts issued for payment of goods. The above submission finds support in the ageless principle of law that where the language of a statute is clear and explicit, they ought to be given their plain and simple meaning as the said words speak for themselves, particularly as they clearly demonstrate the intention of the drafters. Additionally, assuming arguendo that indeed the CBN Circular was made pursuant to the Regulations, one wonders why the CBN Circular has only two exceptions whereas the Regulations in Regulation 620(b) enumerates the situations when payment of stamp duties will be exempted and they include the following: payment of goods supplied

or services rendered if the amount is under N1,000; advances of salary; salaries, duty pay, seniority pay; duty tour, travelling and transport allowances; wages; refund of out-of-pocket expenses incurred and paid by officers in the course of their duties; pensions, gratuities, compassionate allowances; repayments of prisoners’ property and sums deposited in the Treasury under the provisions of the Mineral Act; refunds of overpayments to Government; customs drawbacks; custom duties refunded upon certificate of over-entry or upon reimportation certificates; receipts given by officers on behalf of Government in their official capacity; imprest; advances (other than advances of salary) where the officer receives no personal benefit therefrom; receipts given by accused person for money taken from him on arrest; and duplicate receipt required for payment of severa l amounts. Curiously, one wonders why the CBN has chosen to mislead the entire populace into believing that one is liable to pay N50 stamp duty on deposits above N1000, as opposed to one being liable to pay N50 stamp duty for receipts issued for payment for banking service(s) rendered by the bank, where the value of the service(s) rendered is above N1,000. After all, it is well settled that if there is nothing to modify, alter or qualify the language of a statute, it must be construed in the ordinary and natural meaning of the words and sentences used; the object of all interpretation is to discover the intention of the lawmakers which is deducible from the language used. In any case, the writers opine that the entire purport of the Regulations in relation to amending the express provision of the SDA is unequivocally null and void because as a subsidiary legislation, it is not made pursuant to the SDA, neither is it endowed with such powers by a primary legislation. Revisiting the Federal High Court Decision and the scope of CBN Powers 1. Having tested the 2016 Circular against the waters of the SDA and the Regulations and submitted that it could not be rightly argued that the CBN acted within the ambit of either statutory instrument, it become pertinent to consider the propriety of the decision of the Federal High Court (FHC), delivered on 17 April 2014 in Suit No FHC/L/CS/ 1710/2013 – Kasmal International Services Limited v Central Bank of Nigeria (Kasmal Case). 2. In Kasmal Case, the gist of the case before FHC was whether the CBN was not duty bound to ensure that all financial institutions, under its regulation, comply with all provisions of the law including the provision of SDA, NIPOST and the Financial Regulations 2009 (Regulations).

Law|News 23

monDAY, may 2, 2016 NEW TELEGRAPH

Anger as judge reverses judgement three months after Akeem Nafiu

“T

he court finds that by virtue of Order 30 Rule 4 (2) High Court Rules 2012, the court is authorised and empowered to set aside any judgment obtained where any party does not appear at the trial.” With this, Justice Ibironke Harrisson of a Lagos High Court, Igbosere reversed herself three months after she delivered a judgement that parties in a suit should share their father’s property, Mr. Stephen Tella Ojebiyi, who died some years ago. Justice Harrison had on February 16, 2015 ordered Ojebiyi’s children to share his scattered property in Lagos according to their respective mothers. The property- 33 Sounde Street, Ijeshatedo, Surulere, Lagos, 30 Ojowore Street, Mushin and 120 Railway Line, Mushin, Lagos (the subject matter of the suit) were ordered by the judge to be shared among the deceased’s children according to their respective mothers i.e per stripes. Three months after, Justice Harrison made a detour as she reversed her judgement following a motion filed by a party in the matter. The judge while reversing herself insisted that her action was in conformity with the provisions of Order 30

Atilade

Rule 4 (2) of High Court Rules 2012, which according to her empowers the court to set aside any judgment obtained where a party does not appear at trial upon terms as the court may deem fit. Mr. Muyiwa Ojebiyi and Mrs. Adenike Ayebiwe, who are siblings had in October 2010 through their lawyer, Okokon Ita of Okokon Okon and Compa-

ny commenced the suit through a writ of summons, statement of claim, list of witnesses as well as list of documents. However, throughout the pendency of the suit, the defendants including Mrs. Rebecca Ajiboje (for herself and on behalf of the children of Mrs. Funmilayo Ojebiyi), Mrs. Adekemi Alade (for herself and on behalf of the children

of late Mrs. Taiwo Ojebiyi), neither filed appearance nor any document indicating their opposition to the suit despite evidence of being personally served. Meanwhile, having given evidence and adopted their written addresses, Justice Harrison on February 16, 2015 delivered judgment in the suit. In the judgement, she ordered the property of the deceased, Ojebiyi situated at 33 Sounde Street, Ijeshatedo, Surulere, Lagos; 30, Ojowore Street, Mushin, Lagos and 120, Railway Line, Mushin, Lagos (the subject matter of the suit) be shared among the children of the deceased according to their respective mothers i.e per stripes. While noting that the said property cannot be shared by the court in the absence of valuation of the said property, the court further ordered that the defendants shall render account of all monies collected as rents from the property since the death of the deceased till date. The court also ordered that the account shall be filed in court within 30 days of the date of judgment and that one-third share of all monies collected (excluding any legitimate deduction and outgoing) shall be paid over to the claimants by the defendants within 40 days from the date of judgment.

However, in a twist, the defendants on May 14, 2015, three months after the judgment was delivered, filed a motion on notice, asking the court for an extension of time within which to apply for an order setting aside the judgment in default of appearance and pleadings delivered by the court. The defendants through their lawyer, Chief Aderemi Adesina, also asked the court for an order to stay execution of the said judgment as well as an order for extension of time within which they would file and serve their statement of defence out of time. The defendants premised their application upon alleged failure by their lawyer, A. O. Adeoye, to represent their interest in the matter when they became aware of the pendency of the suit. They contended that Adeoye allegedly deceived them when he told them that the case had been struck out for being defective when in fact he neither filed appearance nor defence in the said suit. In acceding to the request of the defendants, Justice Harrison held that: “the court finds that by virtue of Order 30 Rule 4(2) High Court Rules 2012, the court is authorized and empowered to set aside any judgment obtained where any party does not appear at the trial.”

IPLAN, stakeholders canvass review of copyrights law Trespass: Appeal Court orders Foluso Ogunmodede

he Intellectual Property Law Association of Nigeria (IPLAN) has tasked stakeholders in the industry on how to support an effort that would midwife a reform of the country’s intellectual property laws. It said this at its preAGM Workshop held last week in Lagos to commemorate the annual World Book and Copyright Day on April 23. Accordingly, IPLAN asked the National Assembly to put in place a mechanism that would fast track an urgent and drastic reform especially on the Copyright Act, Cap. C28, LFN 2004; Trademarks Act Cap. T13, LFN 2004 and Patents and Designs Act, Cap. P2, LFN 2004. Pioneer chairman of the Nigeria Copyright Commission (NCC), Professor Egerton Uvieghara while commending IPLAN for its advocacy work in the area of law reform, lamented huge revenue being lost in the country following its outdated intellectual property laws. Uvieghara while blam-

ing the National Assembly, said it was time the Assemblymen woke up to their constitutional duty by ensuring that good laws were made for the good of the country. He said: “We have been repeating ourselves over the years but nothing seems to have been done. The National Assembly members are over-pampered. Nigeria is losing a lot of money just because we have minions in the National Assembly. They are collecting more than they are giving us.” Uvieghara who was chairman of the committee that drafted the Copyright Act also noted that the Copyright Act curbed the exploitation of artistes by recording companies, but warned that developments over the years had made a review of the scenerio matter a national emergency. He was corroborated by the NCC’s DirectorGeneral, Mr. Afam Ezekude. Ezekude said the commission had made about 256 raids which had led to the removal of pirated materials worth over N8 billion.

Besides, he said the commission secured 54 criminal convictions including prison sentences to serve as a deterrent to others while 172 were facing trials at the Federal High Court. However, Ezekude said that the NCC had launched a reform of the copyright system with a view to strengthening the bundle of rights available to copyright owners, adding that a draft Copyright Bill had been forwarded to Attorney-General’s office for review and presentation to the National Assembly. IPLAN’s emeritus president, Prof. Bankole Sodipo observed that there were no pending intellectual property bills at the National Assembly but noted that there were ongoing efforts by the regulatory authorities to redress this. He emphasized the need to “get all the stakeholders involved” in the reform process, warning that “at the rate we are going, laws may not be able to catch up with technological developments.” He advised that IPLAN members “can do

a draft bill and present to members of the National Assembly,” adding that increased advocacy was required to jumpstart the industry. Earlier, Mrs. Chinyere Okorocha, who represented the Registrar of Trademarks said unless all stakeholders formed a common front to drive law reform in the industry, it may remain a mirage. she said although the draft Industrial Property Bill contained new areas such as the registration of smell and sound marks as against the prevailing registration of only names, numbers, slogans and service marks, it remained to be seen whether the requisite infrastructure and personnel to enforce the impending regime would be available. She noted that though the Trademarks Registry had made giant strides by transmuting from manual to electronic filing, some “basic” functionalities like electronic searches were still nonexistent, thereby posing huge question mark on the registry’s ability to take daunting roles as set out in the draft bill.

Deeper Life to pay CCC N5m Akeem Nafiu

he Court of Appeal, Lagos Division, has upheld the judgement of Justice Samuel CandideJohnson of a Lagos High Court which ordered the Registered Trustees of Deeper Christian Life Ministry to pay N5 million as damages for trespassing on a parcel of land belonging to the Celestial Church of Christ (CCC). CCC had through its representative, Joseph Ebhodaghe sued Deeper Life Church over a disputed land measuring approximately 1055.864 squares situated at Mulero area of Agege and registered as No- 75 volume 2004T at the Lagos State Land Registry, Ikeja. The judge of the lower court had in his judgement delivered on January 17, 2014 declared the CCC as the rightful owner of the disputed land and awarded N5 million in damages against Deeper Life Church. The court also granted a perpetual injunc-

tion restraining Deeper Life Church, its agents or servants from further trespass on the disputed land. Dissatisfied, Deeper Life Church through its lawyer, Gabriel Akigbe filed a notice of appeal and urged the court to set the entire judgement aside on the grounds that the trial judge was perverse having regards to the documentary and oral evidence placed before the court. However, in a unanimous decision, the appellate court comprising of Justice Chinwe Iyizoba (presiding), Justice Yargata Nimpar and Justice Abimbola Obaseki-Adejumo held that Deeper Life Church’s appeal was unmeritous and dismissed same accordingly. In her lead judgment, Justice Obaseki-Adejumo resolved all the six issues in contention in favour of the respondent. Justice ObasekiAdejumo observed that both parties traced their titles ownership to the Olalabi-Sulu family.

24 Law|news

Ali, Kalu, others tackle police on suspects’ parade C O N T I N U E D F R O M PA G E 1 9

The way Nigeria Police carries out its parade apparently sends a message that such suspect had been convicted already. Following this, lawyers believe that to parade suspects by the police is against the principles of natural justice. The concept of natural justice has been convincingly argued to evolve from the Garden of Eden. The Holy Bible in the book of Genesis 3:9-13; shows how God laid the celebrated precedent of natural justice by expressly demanding that Adam and Eve make their cases. After the murder of Abel, Cain was also given the opportunity to make his case in Genesis 4:9-10. These principles of natural justice are two; audi alterem partem (hear both sides to a case) and nemo judex in causa sua (one cannot be a judge in his own case). Section 34 of the Constitution provides that “Every individual is entitled to respect for the dignity of his person, and accordingly – (a) no person shall be subject to torture or to inhuman or degrading treatment.” Also, Article 5 of the African Charter on Human and Peoples Right (Ratification and Enforcement) Act complements Section 34 by frowning against parade of suspects by the police. However, two Senior Advocates of Nigeria, Malam Yusuf Ali and Chief Awa Kalu described it as a clear departure from the intention of the law. They were echoed by Mr. David Ogundipe, who described such practice as absurd and illegal. For instance, Ali said the police practice to parade suspects was not the intention of the law as the police had made it a ‘parade of convicts’. He said: “But here, it has become a parade of the convicts. The way the police handle it these days is likened to hang-over of the military rule. It is part of it that also led to what we can describe as media trial. Somebody who has just been arrested is already condemned in the press. It is not good for the rule of law and development of democracy because when you have painted a man as the devil and eventually the court did not find him guilty of the offense which he had gotten maximum negative publicity in the press, nobody knows what happens thereafter. Media trial should be discouraged.” Kalu simply described it as a ‘double edged sword’ that must be stopped. He said: “So what that kind of parade does is to dissuade others who may be tempted to commit offenses when you know that if you area caught, you may be seen on television or the pages of the newspapers. It is a double edged sword.” Another lawyer, Ogundipe defined identification parade as a process whereby a number of persons are arranged by the police for the primary aim of identifying a suspect by a witness. This, according to him was different from the police routine parade of suspects even as not all crimes deserve identification of suspects on parade.

Ali

Ogundipe said: “Common law, recognizes that an identification parade is the most reliable mechanism available for identifying a suspect. At this juncture, one must not be misguided into believing that every crime committed by a person calls for an identification parade to identify the suspect. “There are many instances where the idea of identification parade will appear like searching for that which is not lost – such as when a suspect is arrested at the scene of the crime; when the suspect is well known to the witness and when the evidence adduced is sufficient to establish that the suspect is indeed the person that committed the crime. “In the case of Sunday Ndidi vs. The State (2007) All FWLR (pt. 381) 1617, the court unequivocally stated that identification evidence is that which tends to show that the person charged is the same person seen at the locus criminis (scene of the crime). Identification parade is obviously not cosmetics that can be applied for the purpose of fashion or other reasons alien to the purpose of the law. “The position that identification parade is not necessary in the instances mentioned has been given judicial baptism in a plethora of cases like Eyesi v. The State (2000) 15 NWLR (pt. 691), 555 at 557; Bassey Akpan Archibong v. The State (2006), All FWLR (pt. 323) 7417 at 176; Segun Balogun v. Attorney-General of Ogun State (2002) FWLR (pt.1000) 1287 at 1301; Moses Jua v. The State (2010) 4 NWLR (pt. 1184) 217 at 260 etc. “Considering the advancement in combating crime, the nature of the society and the mode of apprehending suspects, it is of the essence to say that identification parade is “mostly” not required. See Ani v. The State (2009) 6 M.J.S.C (pt 11) 1 at 8; Almu v. The State (2009) 4 M.J.S.C (pt.11) 147 at I63; Balogun v. Attorney-General, Ogun State (2002), 4 M.J.S.C. 45 at 58; Ukpabi v. The State (2004) 9 M.J.S.C 120. See Archibong v. State (2006) All FWLR (pt. 323) 1747; Ogoala v. State (1991) 2 NWLR (pt. 175) 509 at 534;

Kalu

Otti v. State (1993) 4 NWLR (pt. 290) 675. “An identification parade is not just an assemblage of men, women or both, it is an assemblage of persons of similar outlook and physical features with the suspect for identification in accordance with the provision of the applicable law. “It is important to note that where a witness concedes that “he saw the back view of a man at the scene of the crime…,” a woman cannot be paraded along with men for identification or vice-versa. The practice in identification parade is to parade eight people of the same sex, similar height, body morphology or any other physical features. It is common and as a matter of fact to parade eight people including the suspect, but there are cases where two suspects may be paraded at the same time. When this happens, there must be an increase in the number of people to be paraded with the two suspects. In the case of two suspects, twelve people must be paraded including the suspects. Anything below these respective numbers will make the identification parade null and void. “In conducting an identification parade, there are rights which the actual suspect has and such rights must not only be protected but must be seen to be protected. “For example, the suspect has the right to determine where he wants to stand among the other people to be paraded. In an instance where there is a distinctive feature possessed by the suspect, and such feature is not the basis of the ability of the witness to identify him, the suspect must be paraded with people of the same feature. If this is not possible, the feature must be concealed to guide against prejudiced attempt. “Parading a man with dreadlocks with men on low cuts may prejudice the mind of a witness whose primary concern in the first place is that “someone has to be convicted”. The technicality of the nature of an average man has gone to a level where it is believed that features like intimidating stature, scars, red eyes, stained teeth re-

monDAY, may 2, 2016 NEW TELEGRAPH

sulting from smoking and grungy outlook are enough to qualify a person to be a potential suspect. This sentiment must be guided against during an identification parade. “Also, a suspect must not be led to the parade directly from his detention cell in the presence of the witness, and he must not be in cuffs. He should be treated equally with the other people to be paraded; he also has the right to request the presence of his counsel or any other persons as long as they will not disrupt the process. “Communications that tend to show that a person in the identification parade is under investigation or has been in custody for the offence in question should not be initiated by the police or any officer in charge. All these can prejudice the mind of the witness meant to identify the actual suspect. “It has become so trite in law that “no man should be judged without being heard”. The noble nature of this principle has led to how people involved in the commission of crime are handled at every stage of the case. A suspect is not an accused; an accused is not a convict. A suspect is just an individual who is under suspicion for the commission of a crime, often formally announced as being under investigation by law enforcement officials. An accused is a person who has been formally charged for the commission of a crime, while a convict is a person who has been found guilty of a crime at the conclusion of a criminal case. The point where identification parade is to be conducted is at the Police Station. This means that the person in question is still a suspect who is entitled to rights. One of these rights is the right to fair hearing. “The belief of most people on what amount to fair hearing is just about the suspect or accused telling his side of the story. This is true, but it is not conclusive. As a matter of fact, it is just one of the numerous rights that amount to fair hearing. A proper identification parade also amounts to granting the suspect a fair hearing. “Identification parade, where necessary is to establish the identity of a suspect and to ascertain that the person identified is actually the person seen at the scene of the crime committing the offence.” Then, any inconsistency, irregularity or violation of the rights a suspect is entitled to during an identification parade amounts to an effort to frustrate his right to fair hearing. Where a suspect is roughly handled at the parade ground, given a mark, led from his cell or cuffed so as to logically prejudice the mind of the witness towards him in the identification, it makes a good argument to hold that the suspect has been presumed guilty and left to prove his innocence. The provision of Section 36(5) Constitution of the Federal Republic of Nigeria (CFRN) 1999 (as amended in 2011) is that “every person who is charged with a criminal offence shall be presumed to be innocent until he is proved guilty”. Even when a person is caught in the process of committing a crime, it is the duty of the prosecution to establish his case against him. So, there must be a level of doubt as to the guilt of the suspect or accused, whether at the police station, in the court of law or even the court of public opinion pending the determination of his case.

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Interview Buhari’s govt lacks economic policy –Mailafia

Business What's news Operators lose N78.3bn monthly to inactive lines

Money Line Forex dealers blame banks for naira volatility

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

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

EXCHANGE RATE

(BDC as at April 22)

(Interbank as at April 22)

USD . . . . . . . . . . . . . . . . . . . . . . . N321 Pounds . . . . . . . . . . . . . . . . . . . N458 Euro . . . . . . . . . . . . . . . . . . . . . . N360

l Foreign Reserves – $27.123bn as at 28/4/2016

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

Source: CBN

p.26 L-R: Group Head, Propositions and Products, Sterling Bank Plc, Mr. Adewale Akinrinde; Managing Director Perfume World Limited, Princess Stella Daminabo; Business Executive, South South and South East, Sterling Bank Plc, Mr. Emmanuel Emefienim and Lead Consultant, Mark George Consultant, Mr. Olugbolahan Mark George, at the MSME Academy in Port Harcourt.

Nigerian ports take delivery of N459bn sugar in five years p.26

PROBE Senator Shehu Sani has called for a probe of the N600 billion expended so far on the exploration Adeola Yusuf

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

he N600 billion oil search in the North is heading for the rocks, as Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has deferred the promised announcement of major discovery on the Chad Basin. The postponement, New Telegraph learnt, stemmed from fresh opposition from elites and social activists from the North, who now perceived the exploration as a charade and a cesspool for corruption. An industry source told this newspaper that a school of thought led by Senator Shehu Sani is planning to meet President Muhammadu Buhari on its call for probe of the N600 billion ($3 billion) expended so far on the exploration. He said: “The group believes strongly that the Chad Basin exploration was a fraud and it is enraged by the N600 billion expended so far on the oil search without results. If this call for probe scales through, it will be a big setback for the whole exercise.” Kachikwu, who doubles as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) had, last August, said that he would announce something major on the discovery on or before December 2015.

N600bn North’s oil search hits brick wall Kachikwu defers announcement as activists kick Announcing that oil was very close to being found in Lake Chad, which had gulped over $3 billion, after very many years of trials, the minister said that there were signs from the latest 3D seismic studies that indicated the potential discovery of hydrocarbon in commercial quantity in the North. “It is key both for the geographical balancing of oil production and it is also very key for the purpose of refinery placement in the North in terms of access to crude. I am optimistic that by the end of the year, we should be able to announce something major on this, ’’ he had said. Four months after the December date, the minister has deferred announcement of the discovery, fuelling insinuations that the exercise might have gone the way of the previous promises of discovery. “Oil exploration in the north has been carried out back to days far beyond that of former President Goodluck Jonathan. I am calling on President Muhamadu Buhari to order a probe into this questionable search for oil. Past leaders have amassed wealth through this venture and I want the president to investigate this,” Sani had said. “If we cannot find oil, we must get our money back because so far

N30 billion Being the amount that the Federal Government has pumped into feasibility studies of the oil potential at the Chad Basin in the last three years

over $3 billion US dollars had been wasted on oil exploration in the north, particularly in the Chad Basin and Benue trough. This oil exploration issue started from the late General Sani Abacha’s regime and many years after his death, no oil has been found in the region. I blame our northern leaders who in collaboration with their southern counterparts improvised the north through phony schemes like this,” he told students’ leaders from the North who were on a courtesy visit to him. Preliminary surveys had, according to the NNPC, indicated that there is hydrocarbon deposit in an area covering 3,350 square metres in the Chad Basin, with the Federal Government pumping close to N30 billion in the last three years into feasibility studies of the oil potential there. Countries such as Chad, Niger and Sudan with similar structural settings are already exploring or producing oil on their soil, leading to conclusions that it is a matter of time for Nigeria’s turn. Discoveries made in neighbouring countries in basins with similar structural settings are Doba, Doseo and Bongor, all in Chad, CONTINUED ON PAGE 26

BUSINESS |news

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Operators lose N78.3bn monthly to inactive lines REDUNDANCY Of the 214.23 million connected phone lines currently on mobile networks, only 148.62 million are being used for services, making 65.6 million dormant Kunle Azeez

he estimated losses of mobile telephone services providers in Nigeria on account of the volume of inactive phone lines on their networks may have risen to N78.3 billion – the highest ever, New Telegraph has learnt. This conservative valuation is determined by using the current industry Average Revenue Per User (ARPU) of $6 or N1,194 multiplied by the current figure of inactive lines in the country. ARPU is a financial performance benchmark in the tele-

coms industry that measures the average monthly revenue spent by each telecom consumer. It also corresponds to the amount generated by the operators. According to the latest subscriber data published by the Nigerian Communications Commission (NCC), there are currently 65.6 million inactive lines in the country. The inactive lines consist of those on the networks of Global System for Mobile communications (GSM), Code Division Multiple Access (CDMA) and fixed line networks in the nation’s bourgeoning telecoms industry. Of the aggregate connected phone lines on GSM, CDMA and fixed wired/wireless networks currently standing at 214.23 million, only 148.62 million are being used by subscribers to access services, the regulator said in the latest report. This newspaper’s analysis of the data further shows that the usage of these active lines, which represent 69.5 per cent of the total connected lines of 214.49, is estimated to be generating over N180 billion for the

telecoms networks monthly. However, with a total of 65.6 million inactive lines on the telecoms networks and an ARPU of N1,194, mobile networks are found to be losing potential revenue conservatively valued at N78.3 billion monthly. “Definitely, if a subscriber abandoned his or her registered line instead of using same to access mobile services, the affected operators are losing potential revenue and this, I believe, runs into billions of naira monthly,” said a telecoms industry analyst, Mr. Akin Akinbo. Also, President of the Association of Telecoms Companies of Nigeria (ATCON), Mr Lanre Ajayi, told this newspaper by phone that “no operator wants to lose its subscriber to competitors.” He said: “Competition in the telecoms sector is getting keener by the day and this makes subscribers have the tendency to abandon a line for another network, especially if they find a better tariff plan or more quality service on the ‘new’ network.” Also reacting to the current

potential losses estimated to be the highest ever in the country so far, President, National Association of Telecoms Subscribers (NATCOMS), Mr. Deolu Ogunbanjo, said: “If a telecoms operator sells a Subscriber Identity Module (SIM) to a customer and gets him connected on its network, the intention is to start generating revenue from the subscriber anytime the subscriber loads its account with airtime to access services.” Ogunbanjo, however, reckoned that in a situation where the subscriber, for one reason of the other, does not load the line for a long time, thereby rendering the telephone line redundant, “the network is definitely losing some potential revenues.” Meanwhile, a telecoms subscriber, Mr. Jide Olajuwon, maintained that adoption of mobile number portability (MNP), where subscribers are able to switch from networks to another with a single line, may have increased the incidence of inactive lines. He noted: “Before now, Nigeria has been known as a multi-

SIMing telecoms market, but with the introduction of an innovative service like MNP by the regulator in collaboration with the GSM operators, some subscribers have opted for porting, such that somebody hitherto using more than one line has limited his or her number to just one. “This means that rather than porting their lines, a lot of subscribers still prefer to dump current line for a new line on another mobile network that offers them better propositions than their current networks.” Meanwhile, Globacom and Airtel Nigeria have maintained growth momentum in subscriber base while MTN and Airtel networks’ recorded declines, according to the NCC data. Indeed, the four GSM networks witnessed a fall from 149 million last January to 146.2 million in February. Active subscription had, last November, reached its highest as mobile lines on all the GSM networks stood at 149.7 million, but declined to 148.6 million in December.

N600bn North’s oil search CONTINUED FROM PAGE 25

amounts to over two billion barrels (Bbbls); Logone Birni in Southern Chad and Northern Cameroun, over 100 Bbbls and Termit-Agadem Basin in Niger totals over 1Bbbls. The NNPC had said in a document obtained by this newspaper that against a commitment of $864 million for the first six years of deep water prospecting under a PSC (production sharing contract), the industry had invested approximately $1.3 billion up to the end of 1998. From the very beginning of oil exploration in Nigeria in 1937 till early 1993, virtually all exploration and production activities were restricted to land and swamps. Where prospecting ventured offshore, it was in areas not greater than 200 million water depth. The corporation noted: “But then in 1993, the Federal Government opened up a new frontier in oil and gas exploration, heralding the bright prospects of a promising future, by allocating some offshore blocks in water depths reaching 2500 metres. These deep water depth and plans for even greater depths than 2500 metres will undoubtedly impact positively the country’s production and reserve blueprint. “Though these deep water operations are technically challenging and massively capital intensive, experience multinational companies have been awarded some deep offshore blocks and even ultra-deep concessions. By the end of 1998, the deep water operators in Nigeria had achieved the following: Acquisition of 21,000 km 2D Seismic Lines; acquisition of 21,500 km 3D Seismic Lines and drilling of 33 exploration/appraisal wells in depths ranging from 300-1460m.”

L-R:Consultant to Bank of Industry, Adolphus Ojobo; Area Manager, Skye Bank Plc, Benin Area, Mrs Chinyere Imeribe; Managing Director, Omega Foods and Hospitality, Mr. Alex Otuya and Head, Small Business Group, Skye Bank Plc, Mrs Ayo Olojede, at the SME seminar organised by Skye Bank in Benin.

Nigerian ports take delivery of N459bn sugar in five years CONTROL Federal Government slammed 80 per cent on sugar importation to curb importers and encourage local production Bayo Akomolafe

espite government’s restriction on importation of sugar, Nigerian seaports have taken delivery of 7,279,000 metric tons of sugar valued at N459 billion in the last five years, checks by New Telegraph have revealed. Last week alone, three vessels berthed at the Lagos Port Complex with138,800 metric tons of the commodity at Greenview Development Nigeria Limited (GDNL), a subsidiary of Dangote Group. The vessels include MV

Three ships arrive with 138,800 tons Sweet with 46,800 metric tons; JPO Dorado, 46,000 metric tons and Desert Calm, 46,000. The consignment is valued at $33,659,000. The price of sugar at the global market per ton is $315.40. A data from the United States Department of Trade (USDT) stated that Nigeria would take delivery of 1.47 million metric tons of sugar this year. It also revealed that the importation of the commodity had been on the increase since 2013. This year, 80 per cent levy was slammed on sugar importation. The National Sugar Development Council, in its National Sugar Master Plan (NSMP), had said that 10 per cent duty and 80 per cent levy would be placed on sugar between 2016 and 2018. The levy was 70 per cent in 2015, while the duty remained at 10 per cent.

The USDT data revealed that in 2011, some 1,495,000 metric tons of the commodity were shipped to the country, 2012 - 1,399,000 metric tons; 2013 - 1,450,000 metric tons; 2014 - 1470, 000 metric tons and 2015 - 1, 465,000 metric tons. It also revealed that the importation of the consignment dropped slightly by 5,000 metric tons in 2015. Also, the Global Agricultural Information Network (GAIN) noted that sugarcane production in the country had reduced. It said that in 2014, the country produced 75,000 metric tons, but the production went down to 70,000 metric tons in 2015. It stressed that local sugar demand was expected to grow from 1.3 to 1.7 million tons by 2017. Similarly, Nigeria is expected to buy some 721,000 metric tons of wheat valued at N41.76 billion ($130, 500,000) this year

from Russia. Nigeria needs over 4.1 million metric tons to meet its demand yearly as local production has plummeted from 100,000 metric tons in 2014 to 70,000 metric tons in 2015. The country has also reduced wheat importation by 55 per cent from the United States due to high price of hard red winter. But, last week, data obtained from the Nigerian Ports Authority (NPA) showed that three vessels shipped 103,714.02 metric tons of wheat to Apapa Bulk Terminal Limited (ABTL). The imports were valued at $25,513,858.02. The commodity was ferried by MV Sun Vil II with 31,315 metric tons, Desert Melody, 26, 399 metric tons and Atlantic, 46,000. In 2013, Nigeria imported 1,450,000 metric tons, 2014, 1,470,000 metric tons and in 2015, 1,665,000 metric tons.

BUSINESS | Movers, Shakers and Appointments

MONDAY MAY 2, 2016 NEW TELEGRAPH

UN appoints Nigerian for T South Sudan mission

Mortgage firm hires board’s chair, directors

nited Nations Secretary-General, Ban Ki-Moon, has announced the appointment of Abiodun Bashua, a Nigerian, to lead the special investigation into the attack against the UN Mission in South Sudan (UNMISS), which is protecting civilians at Malakal. The special investigation, according to a statement, would undertake detailed examination of the circumstances, which led to the incident on February 17 and 18, 2016 in which at least 25 civilians died and an additional 144 injured. Bashua recently concluded his assignment as Deputy Joint Special Representative of the African Union-United Nations Hybrid Operation in Darfur, during which he also served as acting Joint Special Representative in 2014 and 2015. In addition, he served at senior levels in Côte d’Ivoire, Liberia, Sierra Leone and Sudan. He had served as Secretary to the Conference of Parties of the UN Framework Convention on Climate Change.

Bashua

General Manager for NIPOST subsidiary

ollowing the retirement of Mallam Mundi Gani Mohammed from public service, Mallam Umar Kaboji Musa has been appointed as the General Manager of EMS Nigeria, the courier arm of the Nigeria Postal Service (NIPOST). The new general manager, according to a statement, has a specialised training on EMS in Rotterdam, Holland and has served in the organisation between 1992 and 1993. According to the company’s Manager, Corporate Communications, Mr. Hezekiah Umanah, the new general manager “has resumed and has hit the ground running

on his first day of resumption of duty.” Also, he has visited other branches of the organisation. Umanah said: “At the EMS offices in Ikeja, Lagos Island and Shomolu, he bemoaned the constraint of office space, poor power supply, which affects the electronic keying in of acceptance and delivery information and assured the staff that he would see what is possible within available resources. He also promised that he would not shirk his responsibility to drive staffers nationwide to put in their best and accept responsibility for their action or inaction.”

he Nigeria Mortgage Refinance Company (NMRC) has appointed four independent directors to serve on its board in line with international best practices in corporate governance. Those appointed, according to a statement, include Professor Charles Okeahalam, who will serve as the Chairman of the Board of Directors, Mr Charles Adeyemi Candide-Johnson (SAN); Mrs Fatima Wali-Abdurrahman and Mrs Anino Emuwa. Okeahalam holds a Doctor of Science degree in Financial Economics of the University Exeter (UK) and a PhD in Economics (Econometrics) of Queen Mary College, University of London. According to the statement, he co-founded AGH Capital, an investment holding company with interest in private equity, mining, marine equipment, property and corporate finance in 2001 and has been the managing director of the firm since 2002. “He has quality strategic and operational experience in banking, equity and bond markets, fund management and infrastructure finance. He has served as an advisor to many central banks and government ministries in several sub-Sahara African countries,” the statement added. Okeahalam has also advised the World Bank and the United Nations in different capacities. He has been serving as a director and chairman of the Board Audit and Finance Committee of SEPLAT Petroleum Company. Also, Mr. Charles Adeyemi Can-

dide-Johnson is a senior partner at Strachan Partners, a leading commercial law firm with offices in Lagos and Abuja. According to the statement, he was called to the Nigerian Bar in July, 1984 and, in the same year, received his LLM Degree from the University of London. He was conferred with the rank of a Senior Advocate of Nigeria (SAN) in September 2003. He brings to NMRC significant experience in corporate governance practices. Ms. Anino Emuwa, an international management consultant with expertise in small business finance and entrepreneurship has over 20 years’ experience in business consulting, commercial banking and research in Africa and Europe. Emuwa, according to the statement, currently serves as a member of the Institute of Directors, United Kingdom and the Women Professional Network Group, France. Also, Mrs. Fatima Wali-Abdurrahman, is an architect with over 30 years’ post-qualification experience. She obtained her Bachelor of Arts degree in Architecture & Urban Studies from the University of Minnesota, USA, in 1983. Wali-Abdurrahman currently serves as the chief executive officer of Filmo Group of Companies, a position she has held since 1994. Through its subsidiaries, the group has successfully designed and constructed residential houses, hotels and commercial buildings across Nigeria, and especially in Lagos and Abuja.

Wali-Abdurrahman

Okeahalam

Delta names executive assistant on marine devt

he ambassador to the United Nations on Millennium Development Goals, Oghenekaro Ekewenu, has been appointed by Governor Ifeanyi Okowa of Delta State as Executive Assistant on Marine Development. The appointment, according to a statement, takes immediate effect. Ekewenu hails from Ugono-Orogun community in Ughelli North Local Government Area, Delta Central Senatorial District of the state. He has remained the most functional and visible role model to the youth of Nigeria and his people in the Niger Delta, the statement added. Speaking on the appointment, Chief Gabriel Ariomagwa, said that with the appointment, Governor Okowa had made another great choice.

NIMASA spokesperson makes top 100 PR experts’ list

D Ekewenu

eputy Director, Public Relations of the Nigerian Maritime Administration and Safety Agency (NIMASA), Hajia Lami Tumaka, has made the list of top 100 public relations experts globally in April, EvanCarmichael

New president for Ericsson in Nigeria, others

global Information and Communication Technology (ICT) company, Ericsson, has announced the appointment of Jean-Claude Geha as Head of the sub-Saharan Africa (SAA) region. The appointment, according a statement, will be effective from July 1, 2016. Jean-Claude, who replaces Fredrik Jejdling who would take up a new role in the new organisation, would oversee the company’s operations in Nigeria, Rwanda, Sao Tome and Principe, Ghana, Benin, Angola, Senegal, Seychelles, Sierra Leone, Somalia and South Africa, among others.

Jean-Claude has been active in the ICT space for over 25 years. Currently as Global head of Managed Services, he has been instrumental in extending Ericsson’s managed services leadership globally, including here in Africa, the statement added. Prior to taking on the role as Head of Managed Services in September 2013, Jean-Claude held several key positions in Ericsson including Head of Operations in Region Western & Central Europe and Managing Director for Ericsson in Belgium and Luxemburg.

Tumaka

Public Relations has said. Tumaka’s working career, which spanned over two decades, started at the Army Day Secondary School, Jaji, as a teacher, a statement from NIMASA said. She was a News Editor, Nigerian Television Authority (NTA) Minna; Public Relations Manager, Peugeot Automobile Nigeria (PAN) Ltd. Kaduna, before joining the then National Maritime Authority (NMA) as a Chief Research Officer in 1998. Tumaka is a recipient of the Maritime Media Woman of the Year on several occasions, among several awards. She had won a poll as the Best Maritime Industry Public Relations Officer. Tumaka, according to the statement, is a Fellow of the Nigerian Institute of Public Relations (FNIPR) and a member of Women’s International Shipping and Trading Association (WISTA) Nigeria.

BUSINESS |Stock Watch

MONDAY, MAY 2, 2016 NEW TELEGRAPH

Berger Paints: Harsh milieu slices earnings Berger Paints Plc, which recorded stellar financial performance last year, has begun to show signs of decline. CHRIS UGWU writes

ncertainty about the direction of the nation’s economy and fiscal policy, dwindling oil price, currency volatility and heightened insecurity, are some of the several factors that had shaped businesses in Nigeria in 2015. These to a large extent, also portends serious challenges for the economy in current year 2016. This is because marketing environment has continued to be more turbulent in Nigeria, especially the manufacturing sector due largely to the effects of international oil price fluctuations and yet to be resolved infrastructural challenges, multiple taxation and high cost of operation arising from adverse fiscal and monetary policies, inflation and high cost of funds. Again, the security landscape remained a major concern particularly in the North Eastern part of the country, making free enterprise increasingly complicated in the affected states. The cheaper price of imported goods is also blamed for the penchant of Nigerians to patronise imported goods to the detriment of locally produced goods. This is why many local industries, including paints manufacturers that could not stand the heat of the competition in the same market with imported goods, are fast disappearing from the industrial landscape. Also, domestic constraints such as depletion of fiscal buffers, dwindling foreign reserves, among others, have remained hydra headed monster to the operating environment. Given headwinds such as weak demand on the back of a squeeze on household wallets, most consumer goods companies in Nigerian have continue to find it difficult to weather the storm. Market watchers also believe that for the paint industry to survive, more is needed to be done in order to totally curb the problem of counterfeiting. Individual companies must also be able to come up with technological innovations that will help counter the activities of counterfeiters. However, in spite of the challenges, Berger Paints Nigeria Plc was one of the few companies in the industry that recorded stellar financial performance last year. But after facing many challenges in 2015, the company began the year on a disappointing note with the first quarter results dropping by 66 per cent. The market sentiments for the shares of the company have also dropped, reflecting the general trend in value of shares quoted on the floor of the Nigerian Stock market. Due to volatility in the economy, investors had remained hopeful on the back of expectation that Berger Paints innovative distribution strategies would boost revenue for the company.

Stockbrokers attributed investors’ sustained confidence in the stock to continued sales, marketing and distribution efforts as well as its strong presence across Nigeria. They also believe that the company’s recent initiative to embark on the outsourcing of all its depots and intention to appoint franchisees in various other locations of the country where the company does not have a presence will enhance its bottom-line. The company’s share price, which closed at N10.00 per share at the close of business in May 2015, has declined in value, closing last Friday at N8.84. This represented a drop of N1.16 or 11.6 per cent year to date. Financials Berger Paints ended the 2014 financial year with a 27.3 per cent decline in profit before tax. Similarly, pre-tax profit dropped from N342.7 million in 2013 as against N249.2 million during the period under review. Profit after tax equally fell by 42.2 per cent to N148.8 million from N257.5 million a year earlier. However, the paints company began the 2015 financial year on impressive note, reporting 87.45 per cent growth in net earnings for the 2015 first quarter ended March, 31, 2015. According reports from the Nigerian Stock Exchange (NSE), the company’s post-tax profit grew from N8.783 million in 2014, as against N70.025 million recorded during the period under review. This represented a growth of 87.45 per cent. Its revenue equally increased to N705.930 million from N587.851 posted in 2014, accounting for 16.7 per cent growth. Berger paints also came in with good numbers, as its half year revenue rose by 14.91 per cent y/y to N1.41 billion from N1.23 billion in 2014. Operating profit also increased by 72.87 per cent y/y to N0.23 billion, which was as a result of decrease in cost of sales and an increase of 48.75 per cent y/y in other incomes. Also, PBT and PAT both appreciated by 50.20 per cent y/y to N0.24 billion and N0.56 billion respectively not relenting in the tax surge of -50.20 per cent y/y to N0.08 billion from N0.03 billion in 2014. For the quarter ending 30th September, 2015, revenue increased by 18 per cent to N2.2 billion from N1.8 billion in the prior period of 2014. The financials showed that profit before tax grew 89 per cent to N303.4 million from N160.9 million, while profit after tax increased to N206.3 million from N109.4 million, as earnings per share also increased 87 per cent to 71 kobo from 38 kobo per share. Total assets however, fell by 3.4 per cent to N3.8 billion from N3.6 billion in 2014, while total liabilities grew 11.5 per cent to N1.3 billion from N1.2 billion. The company sustained the profit trend during the third quarter ended September 31, 2015. The figures revealed stellar performance, as its top and bottom lines were northward. Revenue grew by 18.4 per cent from N1.82 billion in 2014 to N2.15 billion. Profitability level for the pe-

view, accounting for an increase of 127 per cent. The company’s revenue however dropped marginally by two per cent to N3.022 billion in the review period of 2015 from N3.082 billion in the corresponding period of 2014. However, the positive trend was recently truncated, as the company began 2016 with 66 per cent drop in net earnings for the first quarter ended March 31, 2016. The firm posted a profit after tax of N23.805 million as against N70.025 million recorded during the comparable period of 2015, representing a drop of 66 per cent. Similarly, profit before tax declined from N35.008 million posted the previous year to N102.978 million during the year under review, accounting also for a decrease of 66 per cent. The company’s revenue however, firmed up by eight per cent to N760.068 million in the review period of 2016 from N705.930 million in the corresponding period of 2015.

Folikwe

Berger Paints Nigeria Plc. 2015

The business climate for Berger Paints, like other building material companies has remained challenging due to intense competition

May 31

N10.00

June 30

N11.24

July 31

N9.80

August 31

N8.34

September 30

N10.42

October 30

N9.77

November 31

N9.75

December 31

N10.00

January 29

N9.01

February 29

N9.30

March 24

N9.46

April 22

N8.84

riod was up significantly by 89 per cent to N206.30 million from N109.41 million in 2014. The company’s cost of operation for the period hampered its profit, as reflected in the profit margin for the quarter despite the improvement in numbers against 2014, as all expenses were marginally up except for the tax provision, which was high with almost 50 per cent. Net assets were up to N2.45 billion from N2.32 billion last year. Its earnings per share for the period went up to 71 kobo from 38 kobo in 2014. Berger Paints also ended 2015 year with a record of 122 per cent growth in net earnings for the financial year ended December 31, 2015. The firm posted a profit after tax of N330.316 million as against N148.808 million recorded during the comparable period of 2014, representing a growth of 122 per cent. Similarly, profit before tax grew from N249.258 million posted the previous year to N565.212 million during the year under re-

Why outsourcing of depots Berger Paints said that it embarked on the outsourcing of all its depots and intends to appoint franchisees in various other locations of the country where the company does not have a presence. The company said in a notice to the Exchange that the initiative became necessary as part of its strategy to enhance accessibility and visibility of its products. It said that the strategic move serves to enhance the efficiency of the company and improve its bottom line. “In addition, it will enhance proximity of its products and help to ensure the availability of genuine Berger Paints products countrywide. “On a related note, the company’s plans to build the first automated paint manufacturing plant in the Sub-Sahara Africa are ongoing and the plant has been scheduled for commissioning in 2016,” the management noted. Looking ahead The Managing Director and Chief Executive Officer, Berger Paints Nigeria Plc, Peter Folikwe, said the company resolved to enhance shareholders’ value through commitment to the highest standard of corporate goals. Folikwe explained that the firm’s turnaround efforts would aid the to re-positioning of the company in order to earn its place as one of the most profitable quoted companies on Exchange. Speaking at the conferment of Fellowship award on him by the National Institute of Marketing of Nigeria (NIMN) recently, Folikwe stated that within his short period of assuming his office at Berger Paints, the company’s earnings had grown by 50 per cent and 89 per cent respectively. Conclusion The business climate for Berger Paints, like other building material companies, has remained challenging due to intense competition. It is, however, advisable that the company should continue to adapt business strategies to fit the dynamic operating environment.

MONDAY MAY 2, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

The Nigerian Stock Market Exchange as at April 29, 2016 DAILY STOCK MARKET REPORT

Insurance

MONDAY, MAY 2, 2016 NEW TELEGRAPH

CAPACITY Local insurance companies do not have the capacity to retain most of the risk they write Sunday Ojeme

ow capitalisation, influx of foreign investors may largely affect African insurers’ hold on oil and gas premium in the nearest future. This projection, which formed part of the inference arrived at during the West Africa Insurance Companies Association conference in Lagos, was highlighted by Dr Abiba Zakariah of Ghana Reinsurance Company. In his paper entitled, “Traditional Insurance versus the Need for Recalibration of Industry Practices in Dealing with Future Challenges for Insurers,” Zakariah also observed that as a result of low capital development, insurers were resorting to unhealthy underwriting practices, such as undercutting, to grow. He stressed that such negative practises had led to large losses and slow growth. Low capacity According to him, Africa’s low capitalisation in a rising continent means local insurance companies do not have the capacity to retain most of the risk they write and have to transfer most of their premiums outside. “In Africa, this represents about 90 per cent of oil and gas insurance premium. Furthermore, some international investors, even where there is local capacity, would insist on insuring their risk out of Africa. “Africa rising has meant that an increasing number of foreign insurance companies are entering Africa’s insurance markets offering very little capacity development, while local insurers do not have the financial capacity to compete with these international competitors,” he said. Global ratings Today, the world’s insurance industry is dominated by wealthy developed countries, with premium income of $1.62 trillion. The Group of Seven (G7) alone accounts for almost 65 per cent of the world’s insurance premiums even though they cover just over 10 per cent of the world’s population. The United States and Japan alone account for 40 per cent of world insurance, much higher than their seven per cent share of the global population during the same period. According to Swiss Re, the total value of Africa’s insurance premiums was about $70 billion in 2013. That is 1.5 per cent of the global market premium. Of this, South Africa accounted for nearly 74 per cent ($51.6 billion), with the other 53 countries contributing $18.3 billion, only 0.4 per cent of the global insurance market premium. Whereas life insurance represents 55.3 per cent of the global insurance market premiums, it represents 29.5 per cent of South Saharan Africa (SSA) insurance premium, although it contributes

Oil rig

Oil and gas: Why Africa may lose 90% premium to foreigners

Commissioner for Insurance, Ghana, Lydia Bawa

88.6 per cent in South Africa. SSA’s insurance penetration rate was 0.27 per cent, accounting for only 29.5 per cent of total African insurance premiums in 2013, with a density of $5 per person. Non-life insurance had a penetration rate of 0.64 per cent, with SSA spending an average of $12.5 on non-life insurance products in 2013. Apart from Nigeria, the contribution of other West African countries to Africa’s premium income is virtually negligible. Reinsurance treaty Zakariah further noted that regulators in a number of African counties were insisting that insurance companies deal with reinsurance companies with certain rating, adding that such decision reflected the fact that although a good rating showed

Commissioner for Insurance, Mohammed Kari

Today, the world’s insurance industry is dominated by wealthy developed countries

the ability of a company to pay claims, it is not an indication of their wiliness to do so. He also hinted that most African reinsurers were automatically pushed out of the competition because their ratings are linked to their countries’ sovereign rating, which are lower. He said that African companies were not gaining business from these foreign rated companies, and as a result do not add on to Africa’s growth. “Insured are becoming more sophisticated, demanding more innovative products and better services,” he added. Sino-Africa trade On the current business imbalance between China and Africa, Zakariah pointed out that although Africa would benefit from Chinese-built infrastructure in

the short term, it all amounts to currently mortgaging its future resources to do so as it may turn out to be a costly trade. He said Sino-African trade was not accompanied by significant skills development, technology transfer or productivity improvements in Africa. “China announced plans to remove tariffs on 97% of items from 30 least developed African countries, and pledged to train 30,000 workers, provide 18,000 scholarships, link African products to global supply chains, improve the variety of imports and the quality of exports but all these promises remain largely rhetorical. “The importation of cheap Chinese products, such as electronics, clothes, and cars to Africa, is a key outlet for China’s low quality overproduced goods. However China does not purchase manufactured products from Africa, while the cheap Chinese imports flood the local marketplace, making it difficult for local industries to compete. “A noticeable case is the Chinese textile industry, which is crippling the African textile industry as well as raising opposition and concern over the loss of local jobs. It has caused 80 per cent of Nigerian textile factories to shut down, resulting in loss for about 250,000 workers. Basic African factories cannot compete with the Chinese in terms of productivity or quality. “African fishermen complain of Chinese industrialised fishing depleting fish stocks, and interfering with villagers’ fishing nets for whom fishing is the main income source. Competition from Chinese imports may have cost South Africa 78,000 industrial jobs between 2001 and 2010,” he said.

BUSINESS | Insurance

MONDAY MAY 2, 2016 NEW TELEGRAPH

Adeosun: Insurance’s strategic tool for diversification CONTRIBUTION The industry currently makes an abysmally low contribution to the nation’s GDP Stories by Sunday Ojeme

s the Federal Government spreads its diversification message across all sectors of the economy, the Minister of Finance, Mrs. Kemi Adeosun, has identified insurance as a strategic tool to be utilised in attaining the goal. The minister, who disclosed this in Lagos, said that the Federal Government was taking steps to address the current poor performance of the industry in the country. She said that in line with the move to diversify and develop the economy, government believed insurance was a strategic tool that should be effectively utilised towards the attainment of the goal. Adeosun pointed out that there was a strong link between insurance market development and economic development, adding that the commonly used index of measuring the development of insurance in an economy is market penetration, which is the ratio of total insurance premiums to the Gross Domestic Product. Lamenting the less than one per cent contribution the sector

to makes to the Gross Domestic Product (GDP), she said government was committed to identifying the challenges and taking steps to address the current poor performance in the country. “It is on this premise that in February, earlier this year, I inaugurated the Consolidated Insurance Bill Review Committee in a move that seeks to make the bill conform to the ideals of contemporary insurance practice as well as facilitate public awareness and consumer protection. “We are optimistic that the work on the bill and its eventual passage to law would positively change the face of insurance regulation and practice in our country, Nigeria,” she said. Adeosun called on the Nigerian Insurance Industry to fully

cooperate with the committee setup to review the industry’s bill so as to come up with a draft that would be the impetus for rapid growth not only for their sector but the Nation and in particular all consumers of insurance services alike. Also speaking at the event, the Group Managing Director, Custodian and Allied, Mr. Wole Oshin, observed that the prevailing global insecurity and oil slump had made embracing insurance vital for both businesses and life. Oshin, who recalled that terrorism had attained an unprecedented height and appeared to defy solution, said terrorist had killed several hundreds of thousands of innocent citizens from across the globe.

nalysis by Quantitative Financial Analytics shows that Nigerian pension fund managers posted modest return of between 0.29 per cent and 2.95 per cent for RSA funds and between 1.58 per cent and 3.46 per cent for retiree funds. According to the analysis, Pal Gratuity funds also recorded impressive but

According to him, quite frankly there was no immediate significant increase in oil prices in the immediate future. The question then is, with a significant number of West African countries depending on oil for survival how then can governments and the organized private sector stabilize and restructure their economies to be less vulnerable to swings in the international markets? He said: “One of the very potent tools used over the years by the more sophisticated and more developed economies has been the use of insurance. They have successfully been able to arrest social imperfections and unrest through adequate pensions, life and health insurance for their citizens.” L-R: Compliance Officer, Stanbic IBTC Pension, Mrs. Idu Okwuosa; Managing Director, Zenith Pension Fund Custodian (PFC), Mrs. Nkem Oni-Egbuna; Managing Director, AIICO Pension and Chairman, Pension Fund Operators Association of Nigeria (PenOp), Eguarekhide Longe; Executive Secretary, PenOp, Susan Oranye; Managing Director, AXA Mansard Pension, Dapo Akinsanya, and Managing Director, FUG Pension, Usman Suleiman, at a media retreat organised by PenOp in Lagos.

Pension fund assets hit N5.39trn, says PenCom otal pension fund assets have grown to N5.39 trillion as at March 2016, the Director-General National Pension Commission (PenCom), Mrs Chinelo AnohuAmazu, has said. Anohu-Amazu, who was represented by PenCom’s Head, Research and Strategy Management, Dr. Farouk Umar, at an event organized by Daily Trust Newspaper in Abuja, said the initially licensed 26 PFAs, 7 CPFAs and 5 PFCs, had reduced to 21 PFAs, 7 CPFAs and 4 PFCs due to mergers and acquisitions. She added that the number of registered contributors was now 7.01 million as at March, 2016. “This represents about 7.45 per cent of total labour force in Nigeria and 3.95 per cent of total population. 26 States of

“Boko Haram has operated in the North East of Nigeria as well as Cameroun and Niger Republic over the last decade with devastating impact on the political, social, and economic landscape of the region. Similar wars were overcome in Liberia, Sierra Leone etc. “The slump in oil prices has further affected the earnings power of nations in West Africa either directly or indirectly. This has led to a recession with inflation on the rise and purchasing power of the citizens eroding on a daily basis,” he added. Africa may have fallen victim to the power play of the Western world especially the USA, Russia and power blocs in the Middle East – Saudi Arabia and Iran,” he added.

the Federation had adopted the scheme and are at different stages of implementation while the remaining 10 States are at bill stage. “About 200,000 private sector employers of labour are implementing the CPS, over 162,343 had retired under the Scheme as at March 2016 and are currently receiving pensions as and when due. Total pension fund assets had grown to N5.39 trillion as at March, 2016, representing an average monthly contribution of about N25 billion. “The assets were equivalent to about 7.72 per cent of the Nigerian rebased GDP, about 60 per cent of the total pension fund assets belong to the private sector,” she said. On micro pension, she said the plan was introduced to extend coverage to persons work-

ing in the informal sector and the self-employed, stressing that the Micro Pension Department had been established to drive implementation of the plan. She said multi-channel platform would be used in providing customer services to those who will be covered under the plan and that discussions were ongoing with relevant service providers and regulators to provide the required technology. She noted that sensitisation was being undertaken through the print and the electronic media including the various social media platforms, adding that the commission had started discussions with the Central Bank of Nigeria and other relevant government agencies on extending coverage to the Small and Medium Scale Enterprises (SMEs).

NCRIB clarifies doubts on number of registered brokers

he Nigerian Council of Registered Insurance Brokers (NCRIB) has said that the list of 300 Insurance Brokers published on the website of National Insurance Commission (NAICOM) recently was not sacrosanct against speculations in some quarters. Recently, some daily newspapers and online news media had reported that only 300 Insurance Brokers had been licensed by NAICOM to operate in the market, a report the NCRIB said was misleading. The Council said what NAICOM did was to present to the public names of Brokers that had satisfied the renewal requirements up to the date of the publication in line with the Commission’s practice. The Council explained that

...Record modest gains in Q1 modest returns, as Pension Alliance Guinness Fund and Pension Alliance Emenite Gratuity Fund, posted 2.57 per cent and 2.5 per cent respectively. The pension funds, which gained from falling yield and rising bond prices in the first quarter of the year, seem to

have benefited from the CBN’s decision to hold the interest rate close to 11 per cent for a greater part of the quarter. All the pension funds largely outperformed the NSE Pension Index, which posted a negative 14.86 per cent in Q1.

It is still arguable, however, if the NSE Pension Index is a good benchmark for the pension funds, because, while the pension funds are largely invested in fixed income securities (Bond and Treasury Bills), the NSE Pension Index is predominantly an all equity based index.

not all Brokers have the same renewal dates and that explains the differentiation in the period of the approval of their licenses by the Commission. “If anyone cares to check the website on a daily basis, it would be observed that the number of the Brokers on the list keep increasing as per approval of their licenses. For instant, shortly after the publication by some media organizations, the number increased to 301, and as at when going to the press, the number has increased to 314. I am sure, before the end of the month, the number would have increased again and this underscores the fact that the list is not sacrosanct”, NCRIB stated. The statement further disclosed that NCRIB and NAICOM had continued to forge effective collaboration in the area of statutory registration with the Council by Brokers as a prerequisite to their licensing by the National Insurance Commission. To facilitate this process, the Council has put in place a Help Desk where members were required to seek assistance with regards to complaint with NAICOM statutory regulation requirement.

BUSINESS | Financial Market News

MONDAY, APRIL 18, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

28-Apr-16

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

Bonds FGN Bonds

Price

Rating/Agency

Issuer

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

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

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 12.4000

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

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

0.30 1.00 1.24 1.34 2.09 3.17 3.49 3.79 5.75 7.88 9.74 12.58 13.06 13.56 14.23 18.22 19.89

8.54 11.32 11.43 11.47 11.77 12.21 12.47 12.71 12.56 12.86 13.01 13.08 13.09 13.10 13.12 13.22 13.32

8.05 11.16 11.29 11.34 11.69 12.10 12.35 12.62 12.49 12.80 12.95 13.03 13.04 13.04 13.06 13.17 13.28

101.26 103.48 98.18 97.41 98.04 109.66 84.91 108.25 115.29 106.47 97.21 111.69 96.28 71.15 80.09 92.66 93.57

101.41 103.63 98.33 97.56 98.19 109.96 85.21 108.55 115.59 106.77 97.51 111.99 96.58 71.45 80.39 92.96 93.87

TOTAL OUTSTANDING VALUE

6,407.46

TOTAL MARKET CAPITALISATION

6,361.14

Rating/Agency

Description

Issuer

6362.457269

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.20

03-Apr-17

0.51

2.94

12.38

102.33

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

0.17 0.17 0.98 0.70 1.67 1.49 1.50 1.47 1.47 1.66 2.08 3.57 2.04 4.58 4.67 2.71 2.74 3.97 3.52 3.55 4.03 6.46 3.64

4.46 3.48 1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

11.17 10.19 12.23 15.87 13.99 12.53 12.53 15.34 15.08 15.41 13.79 14.52 12.75 13.95 16.40 14.56 13.04 13.87 16.50 13.50 15.07 14.38 15.58

100.39 100.82 98.00 98.62 99.96 101.88 101.90 98.92 98.62 100.05 102.89 99.92 103.42 98.48 95.47 99.83 104.17 103.97 99.93 107.83 106.32 110.16 103.59

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

0.42 0.49 0.61 0.98 1.19 1.42 0.88 1.20 1.37 1.37 2.42 1.47 1.55 1.68 2.27 4.55 3.05 5.56 5.67 6.04 4.21 8.42 8.42 9.55

1.00 1.34 1.00 5.49 5.25 1.88 1.88 3.15 6.35 1.00 1.17 4.42 6.11 3.28 4.47 1.00 3.55 2.51 1.00 1.00 2.77 1.00 1.00 1.00

10.06 10.72 10.84 16.72 16.65 13.38 12.73 14.56 17.83 12.48 13.08 15.94 17.66 14.88 16.32 13.65 15.72 15.09 13.59 13.60 15.45 13.90 13.90 13.99

101.14 101.65 102.94 99.79 99.76 99.50 104.96 101.47 100.09 104.14 101.83 99.73 100.37 101.53 97.72 105.25 99.44 96.87 111.02 111.58 101.59 111.59 96.79 104.51

10-Oct-20

2.57

3.37

15.34

98.81

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.20

TOTAL MARKET CAPITALISATION

1.23

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

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

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

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

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

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

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

446.12 447.92

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

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

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

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

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

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

TOTAL OUTSTANDING VALUE

538.53

TOTAL MARKET CAPITALISATION

547.97

Sukuk BBB-/Agusto

*OSUN

10-Oct-13

14.75 OSUN II 10-OCT-2020

14.75

9.40

TOTAL OUTSTANDING VALUE

9.40

TOTAL MARKET CAPITALISATION

9.29

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.79

1.00

10.93

98.80

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.01

1.00

11.67

98.96

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 24.67 Description

Issue Date

Coupon (%)

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.48

7.25

97.11

98.02

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.50

5.07

99.23

100.11

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.75

7.58

92.50

93.40

Issuer

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,444.22

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

19.63

-1.40

99.44

100.40

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.66

7.02

98.37

100.26

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

20.67

19.44

78.14

79.82

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.01

95.50

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.09

92.75

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

16.94

16.23

81.07

82.51

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

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

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

8.25 9.25 8.00

300.00 400.00 450.00

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

13.70 13.89 14.53

82.25 83.00 76.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,523.41 3,090.86 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

9.45

9.44

Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

04-Nov-15

13.75

2.77

29-Jul-16

6.18

14.51

14.00

TOTAL OUTSTANDING VALUE

10.00

**TREASURY BILLS^ DTM 7 21 28 35 42 49 56 63 77

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

Bid Discount (%) 3.79 3.96 4.65 5.59 6.68 6.64 6.11 6.50 6.56

Offer Discount (%) 3.54 3.71 4.40 5.34 6.43 6.39 5.86 6.25 6.31

Bid Yield (%) 3.79 3.97 4.66 5.62 6.73 6.70 6.16 6.57 6.65

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 3.8333 8.0295 10.4097 11.8627

Rate (%)

OBB

3.25

O/N

3.83

Tenor Call 1M 3M

REPO

Rate (%) 3.67 5.00 6.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

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

197.33 199.13 199.32 199.90 200.88 202.43 207.10

197.43 199.65 199.85 200.44 201.47 203.68 209.09

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 MAY 2, 2016 NEW TELEGRAPH

APATHY Poor financial results currently being released to the investment Agency Bonds community erodes TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION investors’ confidence TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Nil

FMBN

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

Stories by Chris Ugwu

ransactions on the floor of the Nigerian Stock Exchange (NSE) ended the month of April 2016 on an unfavourable note, as key measurement indicators ended with a loss of N83 billion. Available statistics show that activities on the floor TOTAL OUTSTANDING VALUEof the NSE TOTAL MARKETto CAPITALISATION continued skew downward, Corporate Bonds as the market, which opened A+/Agusto; A-/GCR NAHCO at N8.704 trillion in market A-/Agusto FSDH Nil capitalisation and 25,306.22 in ***LCRM Nil Nil index at the beginning of tradA/GCR UBA BBB-/GCR *C & I LEASINGat ing in April, closed weekend Nil *DANA A-/DataPro†; trillion CCC/GCR *TOWER N8.621 and 25,062.41 in#{r}

*TOWER#

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