Newtelegraph monday, december 14, 2015 binder1 by Newtelegraphonline

N10m compensation: We didn’t pay New Telegraph, NPAN admits }4

Study links Banks target N300bn lending to agric sector –Emefiele milk to parkinson T disease }37 Tony Chukwunyem

he Bankers’ Committee, an umbrella body comprising the Central Bank of Nigeria (CBN), Deposit

Money Banks (DMBs) and Discount Houses, said it had resolved to increase lending to the agricultural sector to N300 billion next year. CBN Governor, Mr. Godwin Emefiele, disclosed

this at the end of the 7th Bankers’ Committee Retreat held in Lagos at the weekend. He said that the planned increased lending would be extended to both small and medium enterprises

(SMEs) and large scale companies in the agricultural sector. According to him, the committee, however, believes that there is the need to de-risk the agricultural value chain by improve-

ments in the level of infrastructure in various sectors. He said: “Banks generally agreed to increase lending to the agricultural sector, but the committee CONTINUED ON PAGE 3

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Monday, December 14, 2015

Arms deal: FG arraigns Dasuki, Bafarawa, others today }3

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Vol. 2 No. 663

Dasuki

I collected only $30,000 from Yuguda –Bode George }37

George

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Senate justifies purchase of N4.7bn cars }3

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Saraki

Assassination attempt on buratai:

Army arrests Zakzaky, Shiites leaders killed

lPolice to conduct enquiry lDeath toll rises to 20

A cross-section of members of the Shiite sect protesting in Zaria, Kaduna State…yesterday.

PHOTOs: TheWhistle

Zakzaky

PDP demands probe of Buhari’s election funding lFG: Return billions looted from the treasury

News

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

Zaria clash: Army arrests Zakzaky, Shiites leaders killed Ibraheem Musa and Emmanuel Onani

he leader of the Islamic Movement of Nigeria, Sheikh Ibraheem El Zakzaky, has been arrested. He was arrested yesterday by troops of the Nigerian Army following the attempted assassination of the Chief of Army Staff, Lt.-Gen. Tukur Buratai, on Saturday by members of the Shiite Islamic sect. Sources said about 20 sect members have, so far, been killed, allegedly by soldiers. A detachment of soldiers accompanying the Chief of Army Staff (COAS) had, on Saturday, clashed with "followers of Zakzaky", leaving casualties in its trail. The Shiites, however, said that Zakzaky’s whereabouts are unknown. According to reports, the Gyellesu residence of Sheikh Zakzaky and the Husniya headquarters of the Islamic sect have been levelled to the ground. Reports also indicate that the Dembo burial ground where the late children of Zakzaky were buried, as well other martyrs was also flattened by soldiers. Zaria residents, who spoke to our correspondent, said that there was sporadic gunfire all through Saturday night up till Sunday afternoon. They also said that the Gyellesu ward where Zakzaky lives has been cordoned off by soldiers. A statement signed by the President of the Media Forum of the Islamic Movement, Malam Ibrahim Musa, stated that the army has “brutally descended on armless members of the Movement with heavy military weapons, killing indiscriminately.” The statement added: “Leading members of the Islamic Movement and other members as well, have been killed by the soldiers including the leader of the Kano Centre, Sheikh Muhammad Turi; Dr. Mustapha Sa’eed, Malam Ibrahim Usman and Sister Jummai Gilima. “Also killed were Sayyid Aliy, the son of the leader of the Movement; his wife, Malama Zeenat Ibraheem and tens of other members as more are being killed as at the time of this release.” According to Ibrahim, “the claim by the Army that members of the movement attempted to assassinate the Chief of

Army Staff was a blatant lie as the army came back to launch their attack more than an hour after the COAS had passed.” The spokesman accused the soldiers of engaging in a war with the Islamic movement, its members and structures. “The scale of this attack would suggest it was meticulously planned by authorities and now being executed ruthlessly. The alleged attack on COAS Burutai was just an alibi,” he added. Meanwhile, the Nigerian Army has said that

once it restores order to Zaria, the Police will conduct an enquiry into Saturday's clash between soldiers and members of the Shiite movement. The army, in a statement by the Acting Director, Army Public Relations (DAPR), said the public would get full details of what happened, once the Police begin an enquiry. The army said notwithstanding the fact that the 1999 Constitution (as amended) guarantees citizens' right to hold lawful procession,

it also grants others the right to use highways. "Saturday's incident involving clashes between detachments of the Nigerian Army, accompanying the Chief of Army Staff Lieutenant General TY Buratai and followers of Sheikh Ibrahim El Zak-Zaky, suspected to be members of the Shiite Sect in Zaria, leading to loss of lives as a result of the Shiite group members’ blocking roads and not allowing other passers-by to go about their lawful businesses

and activities, was most unfortunate. "The Nigerian Constitution guarantees the rights of any group of persons and Sheikh El Zak Zaky's followers to hold a peaceful march or procession unhindered, but it also guarantees other people's rights of way on public highways. “It is important to note that over the years, this group has subjected ordinary citizens using public roads to untold hardship, delays, threats and disruption simply because they insist on

using public space irrespective of inconvenience and hardship on other law abiding citizens and motorists. This cannot be tolerated and must stop! "As soon as order is restored to the situation in Zaria city and its environs, the police will conduct an enquiry and the public will be informed. In the meantime, the public is advised to go about their lawful business and report any suspicious persons or incidents to the police," the Army said.

L-R: Lt. Gen. Kulbir Suri (Rtd); Major General Surinder Pal Jain; Inspector General GS Uban; President Muhammadu Buhari and Minister of Defence, Brig.-Gen. Dan Ali, at a dinner in honour of the visiting Alumni Association of the Indian Defence Services Staff College (DSSC) Wellington in Abuja... at the weekend.

PDP demands probe of Buhari’s election funding Felix Nwaneri and Onyekachi Eze

he Peoples Democratic Party (PDP) has demanded an inquest into the funding of the election of President Muhammadu Buhari, accusing him of embarking on selective anti-corruption war. But the Federal Government, yesterday, charged officials of the immediate past PDP government involved in the looting of the treasury to urgently return all stolen funds to government coffers. Several top officials of the Goodluck Jonathan government and PDP stalwarts have been named in the $2 billion arms deal. They include the immediate past National Security Adviser (NSA), Col. Sambo Dasuki (rtd) and Minister of State for Finance, Ambassador Bashir Yuguda. The party urged Bu-

hari to be courageous enough to open a probe into the source of funding of the PDP and the All Progressives Congress (APC)'s 2015 presidential campaigns. PDP National Publicity Secretary, Chief Olisa Metuh, said in a statement that the Buhari administration's anti-corruption war should not be limited to only those opposed to the president and the All Progressives Congress (APC). According to the statement, until top officials of the former government open up on the exact source of the funding, it is premature to be accusing only PDP members of corrupt practices. "Nigerians are quite eager to learn the business and investment tricks of past and present public officers in the APC fold, especially former governors, former ministers, as well as their national leader, who

suddenly acquired multibillions investments and are now reputed to be the richest politicians in the country," PDP added. According to the statement, Nigerians demand to know the contributions from APC-controlled state governors to Buhari's campaign, and "the allegation that people were made ministers just to cover up the slush fund that they provided to finance the APC presidential campaign." The party also stated that if the current anticorruption war of the Federal Government includes investigation of the expenditure of former President Goodluck Jonathan administration's security votes from 2011 to 2015, such should be extended to the security votes of all past presidents and heads of State from 1984, including "the expenditure of our military purchases and expenditure during the

Bakassi wars, the fight against militancy in the Niger Delta, military interventions in Liberia, Sierra Leone, Sudan, Somalia and Rwanda, among others." The party expressed full support and "an honest, holistic and total war against corruption" and "the trial and prosecution of all those involved, including those who may have returned 'loots' to government." PDP said it is completely against any one-sided public trial and mob conviction of accused persons without following the age-long and worldwide legal process wherein all accused persons are presumed innocent until the contrary is lawfully proved. "We do not believe that mere investigation confers a guilt verdict on those concerned and government should stop the brutal mob and public conviction of individuals

and the transfer of the burden of proof of people being investigated," the statement added. PDP called for the establishment of a National Truth Commission where politicians and other Nigerians can publicly discuss the true meaning of corrupt practice in the country. "This commission would also provide a platform for a proper public inquisition into the mindboggling wealth of some Nigerians in public office. "Nevertheless, if indeed President Buhari, in anyway whatsoever, desires to probe his opponent in the presidential election, he should come out straight instead of going round in circles. "If indeed the government is interested in ending sleazes associated with campaign funds, the National Truth Commission will present an avenue for Nigerians to CONTINUED ON PAGE 4

News

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

Senate justifies purchase of N4.7bn cars for members Chukwu David ABUJA

he Senate is set to award contacts for the purchase of various brands of exotic vehicles for use by its members. The vehicles which would cost an estimated N4.7 billion is expected to be distributed among the 109 Senators as utility vehicles to enhance their oversight operations New Telegraph learnt that the management of the National Assembly has already invited bids from contractors interested in supplying the vehicles. The Senate yesterday explained that the vehicles to be purchased were meant for the execution of committee assignments. In a statement by its spokesperson, Senator Aliyu Sabi Abdullahi, the Senate said the vehicles were part of the necessities which the institution usually provided to committees to enable them

carry out their functions, without depending on external bodies for effective performance of oversight functions. Abdullahi was silent on the cost of the contract. "The vehicles are not meant for individual senators. They are purchased for the use of the committees. "For those who may want to find out what happened to the ones bought in the past, we cannot expect that after four years, the vehicles will still be in the condition to effectively serve the present committees. The best practice in government institutions and even private organisations is for official vehicles allocated to top officials after four years of use to be sold at the depreciated value," Abdullahi stated. "We have been very frugal, responsive and responsible in our spending. We have also cut down on several expenses. However, there are certain expenses and purchases that are normal in government

and any organisation generally. The legislature is not an exception. "With respect to the official vehicles of the Senate President, it should be noted that majority of the vehicles in his convoy are his personal vehicles while some of the vehicles that he inherited, including his official vehicles and the back-up car, are so old that they are already developing faults and not fit for long journey. “We can recall that on several occasions, his official car broke down. Three instances will suffice here. I remember on a visit to Nasarawa State for a wedding of the daughter of a colleague. Other occasions were at the National Mosque three weeks ago and at the Abuja airport. "The implication is that the vehicles in his official convoy are so old that they are already causing embarrassment for the Senate. The media should know that a man of his antecedent will not at this point be excited with

purchase of new cars. His official cars are really long overdue for replacement. "The media should avoid deliberately portraying the legislature as irresponsible and inciting the people against it. We seek the understanding of the media to explain issues and situations to the people. Both the media and the legislature have different roles to play in sustaining our democracy and none should be seen to be undermining the other," Abdullahi stated. The bureaucracy of the parliament had recently placed advertisements in selected newspapers soliciting bids from vendors willing to undertake the car purchase contract. Although the advertisements did not state specifically what brand of cars are to be bought, it was learnt that a total of 120 vehicles might be bought. An online media platform, Premium Times, which claimed to have sighted the contract documents stated that

Senate would be requesting the vendors to supply 120 units of Toyota Land Cruiser, 2016 model. The vehicles, according to the online platform, must be “American Brand, V8, VXR, 5.7, Auto Engine with intelligence, integrated navigator cruise control, QI-Compatible wireless charging and Kinetic dynamic suspension system, as well as being “full option.” The Senate is said to have also placed an order for the purchase of vehicles for the use of the Senate President’s convoy to replace the existing fleet inherited from his predecessor. Meanwhile, the proposed car purchase contract has generated a lot of comments from a broad spectrum of the society with some describing it as violation of the monetisation policy. Our correspondent also learnt that the leadership of the Upper Chamber recently refused to approve a request by some committee chairmen to change their Prado Jeeps already ordered for each of the 109 senators to brand new Land Cruiser Jeeps.

It was further gathered that even before the inauguration of the 65 Senate Standing Committees, the leadership of the Senate had ordered for the purchase of Prado jeeps at a cost of N16 million each. However, a Senator, who spoke to our correspondent on the condition of anonymity, said that the purchase of new vehicles for new set of lawmakers every four years is conventional. He said: "If you are used to the operations of the National Assembly, you will discover that, every four years, the lawmakers both in the Senate and the House of Representatives, go with their vehicles because they usually pay for the vehicles. "Then, the incoming lawmakers will be provided with their own operational vehicles to enable them carry out their functions smoothly. But this is not free of charge. Certain deductions are made from their salaries, so that as they are serving out their tenure, they go with the cars, and it continues like that. So, there is nothing wrong with that."

Banks target N300bn lending to agric sector –Emefiele CONTINUED FROM PAGE 1

Former President of the Senate, David Mark; his wife, Helen and a former Minister of Interior, Comrade Abba Morro, during the Peoples Democratic Party (PDP) Benue South Senatorial District meeting in Otukpo…at the weekend. PHOTO: NAN.

Arms deal: FG arraigns Dasuki, Yuguda, others today Tunde Oyesina ABUJA

here is strong indication that the Federal Government will, today, arraign a former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), former Minister of State for Finance, Ambassador Bashir Yuguda and six others before an Abuja High Court over alleged misappropriation of N10 billion. A source close to the prosecution, who prefers anonymity told New Telegraph, that the accused would have been arraigned on Friday, but the trial judge had requested for a

short time to go through the charge, hence the need to fix arraignment for today. Other accused persons to be arraigned alongside Dasuki and Yuguda are former Director of Finance in the Office of the National Security Adviser, Mr. Shuaibu Salisu; former Executive Director of the Nigerian National Petroleum Corporation (NNPC), Aminu Baba Kusa; former Sokoto State Governor, Attahiru Bafarawa, his son, Sagir; Dalhatu Investment Limited, Acacia Holdings Limited and Reliance Referral Hospital Limited. In the charge filed against the accused by the Economic and Finan-

cial Crimes Commission (EFCC), they will be tried for the N10 billion allegedly distributed to delegates to the Presidential Primary Election of the Peoples Democratic Party (PDP). The charge also revealed an alleged N13.570 billion “agreement” between Dasuki and the ex-Director of Finance; transfer of N1.45 billion to Acacia Holdings Limited’s account for special prayers; N2.1 billion given to DAAR Investment and Holding Company Limited for publicity; N170 million for a four-bedroom duplex; N380 million to support reelection of members of the House of Representatives; and N750 million paid into

Reliance Referral Hospital Limited’s account for special prayers; N670 million paid to a publisher; N260 million transferred to Tony Anenih and N345 million traced to a former President of the Senate, Senator Iyorchia Ayu. However, the anti-graft commission had indicated that one of the accused persons, Waripamowei Dudafa, the Special Assistant on Domestic Affairs to ex-President Goodluck Jonathan, is on the run. In order to make the arraignment easy, the suspects have been divided into two groups for trial before Justice H.Y. Baba and Justice P.O. Affen of the Abuja High Court.

feels that there is the need to de-risk the agricultural value chain. The Bankers’ Committee also feels that the monetary and fiscal authorities need to work together in a collaborative manner to achieve the objective of improving local production of specific agricultural products, so that as a result of lending to this sector, we can begin to see a reduction in the demand for foreign exchange that would help to conserve our foreign exchange reserves and strengthen our currency. “Banks feel that there is a need to improve the level of infrastructure in various sectors. For instance, build more Fadama roads, build more silos and warehouses to receive final produce, so that products don’t get destroyed at the farm.” He further disclosed that in addition to seeking more backing for the agric sector, the committee deliberated on the need to help support government’s efforts in areas such as boosting SMEs, employment of young graduates and diversification of the economy from oil. He said: “The Bankers’ Committee also looked at the financing of SMEs and recognised that there is need for paradigm shift in the feeling that SMEs

are an endangered sector to lend money. The committee also recognised that the Bank Verification Number (BVN) will help in creating a pool of SMEs loans in the country.” The committee, according to him, however, agreed that there was need to take identified SMEs through capacity building skills such as how to keep records and run their businesses in order to make it easier for them to access loans. According to Emefiele, “the previous Bankers’ Committee retreat has helped to increase lending to the manufacturing sector and it has also helped in facilitating finance to the power and aviation sectors. It has helped to incentivise lending to the agricultural sector where we have seen lending to the sector increasing from as low as one per cent in 2010/2011, to as high as four per cent in 2014/2015.” The retreat was attended by the Ministers of Agriculture, Chief Audu Ogbeh; Power, Works and Housing, Mr. Babatunde Fashola; Transportation, Mr. Rotimi Amaechi; Solid Minerals, Dr. Kayode Fayemi; Finance, Mrs. Kemi Adeosun, as well as practitioners in agricultural, power and small business sectors, who contributed to the decisions reached.

News

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

N10m compensation: We didn’t pay New Telegraph, NPAN admits

he Newspapers Proprietors’ Association of Nigeria (NPAN) has admitted that the management of Daily Telegraph Publishing Company Limited, publishers of New Telegraph, Saturday Telegraph and Sunday Telegraph, never collected N10 million as compensation for the illegal seizure of copies of its newspapers by the military during the Goodluck Jonathan administration. This is contrary to the position of the President of NPAN, Mr. Nduka Obaigbena, in his letter to the Economic and Financial Crimes Commission (EFCC) wherein he listed New Telegraph among the 12 newspapers that benefitted from the N120 million compensation he received from the embattled National Security Adviser (NSA), Col. Sambo Dasuki (rtd), on behalf of the newspaper houses. Executive Secretary of NPAN, Mr. Feyi Smith, in a statement at the weekend, stated that the compensation which was approved for New Telegraph, was instead paid to another newspaper, Blueprint Newspapers, by the umbrella body of the newspapers in the country.

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His words: “In the case of New Telegraph, the Secretariat was confronted with a situation where 13 newspapers made claims while compensation for 12 newspapers was made. Blueprint Newspapers which was inadvertently omitted from the list, has since been paid. “When New Telegraph now demanded payment that had been collected by Blueprint Newspapers, the secretariat then brought the matter to the attention of the President, Mr. Nduka Obaigbena, who then called Governor Orji Kalu, the Publisher of both the Sun Newspapers (who had been paid) and the New Telegraph (which has not been paid), to urge him to be patient for the matter to be tabled at the next Executive Council meeting, where he would seek the approval of the EXCO to take the funds earmarked for the Secretariat to pay them.” He also explained the motive for the compensation and why other newspapers are yet to benefit from the government’s gesture. Smith said: “Our attention has been drawn to statements issued last night by the Nigerian Tribune, Peoples’ Daily and New Telegraph Newspapers, claiming that they did not receive the compensation for the military disruption of circulation of newspapers by the Federal Government. “It should be recalled that the Newspaper Proprietors’ Association of Nigeria (NPAN) Executive

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Funke Egbemode, had in a statement on Friday, denied report that the newspaper received any form of compensation from either NPAN or Obaigbena. The statement reads: “Our attention has been drawn to the inclusion of New Telegraph Newspapers on the list of media houses that THISDAY Publisher and President, Newspapers Proprietors’ Association of Nigeria (NPAN) claimed he paid N10 million each to from funds he received from the immediate past National Security Adviser (NSA), Col Sambo Dasuki (rtd), as compensation for the illegal seizure of some newspapers by the military during the administration of former President Good-

luck Jonathan. “It is on record that following the decision of NPAN to seek compensation from the Federal Government in the aftermath of the seizure of editions of newspapers by the military, New Telegraph computed its losses, which were passed to the association. However, since then, the company has heard nothing from the association on the matter. “Following a report that NPAN has begun paying N9 million (not N10 million as contained in the report that has gone viral on the internet), the management of Daily Telegraph Publishing Company Limited, publishers of New Telegraph,

Saturday Telegraph and Sunday Telegraph, has written three letters to NPAN for its share of the compensation; but regrettably, as at this moment, not even a kobo has been received. “The first letter was written on May 22, 2015 followed by another on July 16, 2015 with a reminder written on November 19, 2015. “Therefore, it is nothing, but sheer falsehood for the NPAN president, who claimed he received the money on behalf of the association, to have included New Telegraph Newspapers as one of the beneficiaries of the funds, which as it has now emerged, was disbursed by the former NSA.”

A cross-section of children at the Internally Displaced Persons (IDPs) camp at a Christmas party in Abuja …yesterday.

PHOTO: NAN.

FG: Return billions looted from the treasury CONTINUED FROM PAGE 2

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Council meeting of March 17, 2015, held at the offices of Daily Trust, Abuja, resolved to accept the N120 million compensation and passed two other resolutions thereto: (1) that each member-organisation accepts to donate N1 million from the compensation to the Association for the upkeep of the Secretariat; (2) that members should bring their membership account current, by paying all past dues to the Secretariat before collecting their cheques. “The cheques for the Nigerian Tribune and Peoples’ Daily remain in the Secretariat awaiting collection.” The Managing Director/Editor-in-Chief of New Telegraph, Mrs.

openly debate the issues therein with facts and figures,” the party noted. It said it would no longer allow major beneficiaries of its 16 years in power, "especially those with a lot of proven baggage to attempt to adorn a sanctimonious apparel by castigating and denigrating a party on which platform they had the opportunity to serve." Meanwhile, the Minister of Information and Culture, Alhaji Lai Mohammed, in a statement yesterday, said the suspected looters are lucky that Nigerians are not as incautious as they are, otherwise they would not be able to walk around freely, not to talk of having the effrontery to fire darts at the government that inherited their rot or the people who are suffering the consequences. The Federal Government was reacting to comments credited to Deputy

Senate President Ike Ekweremadu that businesses may collapse in the next six months because the Muhammadu Buhari administration has mismanaged the economy. Describing the comments as the clearest indication that the PDP and its leaders are still in denial about the massive body blows they inflicted on the Nigerian economy, Mohammed said the PDP administration looted billions of Naira allocated for the fight against insurgency, causing many innocent and patriotic soldiers to die needlessly, yet they are not remorseful. “They looted the treasury to influence the last elections, doling out money as if it was going out of fashion, yet they continue to grandstand,” he said. According to the Federal Government, the PDP officials should bury their faces in shame for plundering the nation’s

resources rather than blame Buhari for the present economic woes. The minister said: “If there was still any honour left among thieves, there is no way the leaders of a party under whose watch the nation's economy suffered a monumental mismanagement and the Central Bank was turned to the ATM or piggy bank of a few people will have the temerity to insult a government that is working hard to turn things around or the citizens who are bearing the brunt of such mismanagement. “It is now clear to all Nigerians that if the PDP had won the last general elections, Nigeria's economy would not have survived one more month, considering the battering it received under the immediate past administration. It is therefore unconscionable that those who should show contrition and hunker down to avoid public opprobrium are

the same ones pointing an accusing finger at the Buhari administration. “In the latest revelation, a minister under the immediate past dispensation admitted to sharing N600 million to six chairmen of the Contact and Mobilisation Committee of the PDP for the last general elections, N300 million to an account given by a former PDP chairman, N200 million to a PDP governorship candidate and N100 million to a former PDP governor. This is just one case out of many, yet these revelations are but a tip of the iceberg of what Nigerians will hear in the days ahead.” Lashing out further on Ekweremadu, the Federal Government challenged him to tell Nigerians who 'dollarised' the Nigerian economy by bribing many individuals and groups with dollars during the last elections, thus inflicting a knock-

out punch on the local currency. The government noted that though the Buhari administration met an economy that was in coma, it had refused to use that as an excuse for inaction, hence the various measures being put in place to turn around the economy. “The outcome of the months of hard work will manifest soon in the 2016 national budget that will give succour to millions of Nigerians who are reeling from fallout of the solecism of the immediate past administration that turned the country into a cash bazaar,” it said. It also assured that despite the mind-boggling revelations about looting and the mismanagement by self-styled economic wizards, the economy will bounce back under the watch of Buhari, who is bringing probity and transparency back into governance.

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

ADVERTORIAL

HIGH CHIEF GOVERNMENT EKPEMUPOLO (TOMPOLO)

THE IBE-EBIDOUWEI OF IJAW NATION

EFCC’s ACCUSATIONS AGAINST ME AND THEIR RESORT TO SELF HELP

, High Chief Government Ekpemupolo wish to state that my attention has been drawn to a news story on Channels Television of 10th December 2015.

The impression being conveyed is that I was invited by the Economic and Financial Crimes Commission (EFCC) and I failed to honour the invitation or even respond by letter to the invitation. On the contrary, nothing could be further from the truth. On the 24th of November 2015, I was informed at about 4pm that a letter of invitation had been dropped at my home in Warri, inviting me to EFCC’s office in Lagos by 10am on the 25th of November 2015. I responded by a letter from my Solicitors, Messrs Jakpa, Edoge & Co. The letter dated 25th of November 2015 was received by one Uduak Ouot, a staff of EFCC on the 3rd of Decemberr 2015, after several attempts to deliver. I have proof of delivery from the courier company. I was therefore not a little surprised that the EFCC – an otherwise reputable institution – would stoop so low as to lie to Nigerians. As my Solicitor’s letter indicated I am already in court with the EFCC in Suit No: FHC/W/CS/152/2015. EFCC had been served with the court processes since 20th of October 2015 but they refused to attend court on several occasions, or to file any court papers, only to appear for the first time on 30th November 2015 without filing any court papers. They even asked for the matter to be adjourned to 17th December 2015, the date they are now inviting me to appear before them. In fact, EFCC only invited me two months AFTER I sued them. In my Solicitor’s letter I informed them that as soon as the court decides one way or another, I would honour their invitation. So the attempt to harass me by their reminder of 9th December 2015, which was leaked to the media on the 10th of December 2015 , the same day as it was delivered to my house in Warri is an unnecessary and face saving effort at brinksmanship. As a full blooded Ijaw man and citizen of Nigeria, I have done everything in my power to follow the laws of Nigeria. Since the amnesty declared in 2009 by late President Yar’ Adua I have strained myself to ensure that we all live in peace in this country. Those who think they can push us to war must rethink the necessity of such a war.

How can a law-abiding Government declare a man wanted who is in the law courts with them? They froze our business accounts since August 4th 2015, but we have not quarrelled with anybody. We sued them to court, they refused to come to court. Now they are threatening to declare me wanted. I know why they are after me. It is not the alleged multi-billion naira property transaction. Afterall, it went through due process and was approved by the Federal Executive Council (FEC). And as such if there are any questions to answer, it is the people at the FEC, Bureau of Public Procurement (BPP), Federal Ministry of Lands and Survey, Federal Ministry of Transport, NIMASA, etc who approved the transaction that should be answering such questions. The real reason this All Progressive Congress (APC)-led Government is after me is that I bluntly refused to join APC and to support their Governorship candidate in Bayelsa State. We cannot all be in APC. Our people have always believed in the Nigerian project and had always hoped to join hands with this administration to move this project forward, but the conditions being attached are not acceptable. I insist on believing in the Nigerian project unconditionally! We will continue to pursue our court case. The threat to declare me wanted is an unnecessary attempt to heat up the polity. I will go about my daily business, usual. Finally, let me say this: if people can come from Sokoto, Katsina or Lagos to campaign in Bayelsa, why can’t I, a full blooded Ijaw man go to my Bayelsa to campaign? I will only add this: let the will of the people of Bayelsa prevail. Nobody should attempt to force the outcome of the election. We have kept faith with our promise to Nigeria, we expect no less from this country. So if anyone tells you that Tompolo is on the run, tell him Tompolo is not going anywhere. Thank you!

Signed

High Chief Government Ekpemupolo

News

NATIONAL national

monday, DECEMBER 14, 2015 NEW TELEGRAPH

2015 Karis Award goes to Dr. Adadevoh Tai Anyanwu

he honour of being the recipient of this year's Karis Award belongs to the late Lead Consultant Physician at First Consultant Medical Centre, Dr. Ameyo Adadevoh. Adadevoh died in active service while treating an itinerant American-Liberian Diplomat and index patient, Patrick Sawyer, during the Ebola disease outbreak in Nigeria. In recognition of her fame and selfless to humanity, she was bestowed with 2015 Karis Award at the Household of God 25th G.R.A.C.E. event, held at the Household of God Church, Oregun, Lagos yesterday. In his opening remark, the Head, Benevolence Department of Household of God International Ministries, Mike Igbokwe, pointed out that the late physician prevented a national catastrophe by identifying and confining the index patient. His words: "The Karis Award 2015 is being bestowed on the late Dr. Stella Ameyo Adadevoh (posthumously) because she had distinguished herself in her meritorious service of our nation and humanity through her contribution to the development of medicine and her love to humanity.

FG tasks state governors on prison decongestion Johnchuks Onuanyim Abuja

he Federal Government over the weekend appealed to state governments to pay fines of some inmates who have been convicted by the courts as a way of decongesting the prisons. Minister of Interior, Gen. Abdulrahman Dambazau, who visited the New Keffi Prisons, where the Nasarawa State Governor, Tanko Almakura, paid the fines of 78 inmates, made the appeal on behalf of Federal Government. Also, the Minister charged other state governors to assist in procuring vehicles for the Nigeria Prisons Service for the conveyance of inmates to various courts. The Keffi Prison, which was built in 2009, has a capacity of 160 inmates, but has exceeded that as it has 586 inmates now. According to the statistics, of this figure, 260 are suspects from courts in the Federal Capital Territory, Abuja.

L-R: General Manager, Zenith Bank Plc, Mr. Akin Ogunranti; Executive Director, Mr. Sola Oladipo, Group Managing Director/CEO, Mr. Peter Amangbo; his wife, Chinyelu; Executive Director, Ebenezer Onyeagwu and General Manager, Human Resources, Mrs. Doyin Olugbuyi, at the bank’s 2015 Children’s Christmas Party in Lagos …yesterday. PHOTO: SULEIMAN HUSAINI

No time limit to conduct supplementary elections — INEC Onyekachi Eze ABUJA

he Independent National Electoral Commission (INEC) has allayed the fears of election stakeholders over its delay to fix a date for the conduct of supplementary election in the disputed Southern Ijaw Local Government Area of Bayelsa Sate. The commission stated that contrary to claims in some quarters, it actually has no time limit within which to conduct supple-

head of the Abia North Senatorial rerun election, the candidature of the former Governor of Abia State, Dr. Orji Kalu, of the Progressive Peoples Alliance (PPA), received a major boost following his adoption by the Confederation of Abia Students Worldwide (CASW), an umbrella body of students of Abia State origin. It will be recalled that Justice I. G. Mbaba of the Court of Appeal sitting in Owerri had on Thursday nullified the election of Mr. Mao Ohuabunwa of the Peoples Democratic Party (PDP) and ordered the Independent National

mentary election where an election is declared inconclusive. The election is Southern Ijaw Local Government was cancelled for the second time on December 7, and there have been opinions that INEC has 14 days within which to conduct rerun in the area. But INEC’s Director, Voter Education and Publicity (VEP), Oluwole Osaze-Uzzi, said there was nowhere in the Electoral Act or the 1999 Nigerian Constitution (as amended) that the commission was given a specific time

limit within which to conduct a supplementary poll. "You can read the Act as well as I can. Where does that come from? That's why we are literates. There is no such thing. There is no time limit. There is nowhere in the Electoral Act that is stated. Don't listen to what people say. "People get confused when they hear one person on television or one person say something, they form opinion. It is not correct. It is not within 14 days, so far it is within the time stated be-

Abia groups drum support for Kalu Electoral Commission (INEC) to conduct a fresh poll within 90 days. The group made the declaration during a solidarity visit to the Igbere country home of the former governor at the weekend. According to the President of CASW, Comrade Kelvin Ukonu, Kalu is a special human being created for a special purpose. He said, “We, students from different tertiary institutions at home and abroad, are gathered here today to show solidarity to the man of the masses, who has not only contin-

ued to empower the people but has also sustained his relationship with the grassroots’. Kalu’s philanthropic gestures know no bounds. He has created job opportunities and wealth for the teeming populace. His accomplishments in the private and public sectors make him the superlative candidate to advance the cause of the people of Abia North Senatorial District”. Meanwhile, a political advocacy group under the aegis of Violence-Free Election Group (VFEG) has called on security agen-

Ooni turns preacher at thanksgiving service Adeolu Adeyemo Osogbo

ctivities of the coronation thanksgiving service to mark the official presentation of staff of office to Ooni of Ife & Arole Oodua, Oba Adeyeye Enitan Ogunwusi(Ojaja II)as the

fore the end of a tenure," Osaze explained. In Kogi State, supplementary elections were conducted in the 91 polling units where the November 21 governorship election was cancelled, within 14 days. Osaze, who said the commission was yet to meet to fix a date for the supplementary election in Southern Ijaw, assured Nigerians that the Bayelsa governorship election would be concluded within the period allowed by law. He also said INEC has not decided on rerun elec-

51st Ooni of Ife was yesterday held at St Paul Anglican Church, Ayegbaju, Ile-Ife in a unique way. The monarch turned a preacher to the congregation, who came to grace the occasion. The monarch, who appealed to the congregation to give him time to appreciate the goodness

of God in his life, told the gathering to always have faith in God on whatever they believe him for. This was made known in a statement made available to newsmen in Osogbo at yesterday by Comrade Moses Olafare, Director of Communication and Public Affairs, Ooni's palace, Ile-Ife.

cies to arrest sponsors and perpetrators of electoral fraud in the interest of Nigeria’s growing democracy. The call was made by Paul Osagie, coordinator of the body, while addressing a press conference in Abuja on the According to the NGO, the era of electoral rigging and violence was over as President Muhammadu Buhari has reaffirmed his determination to ensure that anyone caught in the criminal act of manipulating, rigging and falsification of election results will not go unpunished. The statement added that the monarch rendered many choruses with microphone in his hand at the pulpit where he stood to oversee the programme organised in his honour for few minutes. Speaking on his determination to transform the town, the monarch sought for God’s guidance and assured the people of the town.

tions in constituencies where the Appeal Court voided elections of some state and federal lawmakers. The Appeal Court justices had given a varied period of 60 to 90 days within which INEC to conduct rerun elections to fill the vacancies created by the nullifications.

FG, Cuba to partner in health, education Johnchuks Onuanyim Abuja

he All Progressives Congress (APC) National Chairman, Chief John OdigieOyegun has stated that APC government will collaborate with the Cuban government in education and health sectors. Oyegun disclosed this when he received the Cuban Ambassador to Nigeria, Carlos Trejo Sosa, at the APC National Secretariat in Abuja. According to Oyegun, Cuba has the best medical statistics in the world, pointing out that Nigeria has a lot to learn from the country. He stated that the visit would afford the party the opportunity to appreciate what Cuba stands for and the principles to which they have sacrificed, adding that "as a people, they have the right to live their live and order their society the way the feel like. "They have made sacrifices and had consequences and pay high price for that wonderful defence of their own right. They have the fundamental freedom to live the way they choose to live it."

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

ADVERTORIAL

SIX MONTHS OF THE ORTOM ADMINISTRATION IN PERSPECTIVE By Igba Ogbole

n May 29th this year, a new administration headed by Governor Samuel Ortom was inaugurated at a colourful ceremony at the IBB Square, Makurdi. The inauguration was the will of the people because it came into existence through their overwhelming verdict during the April governorship election, at which they demonstrated their confidence in the Governor, his Deputy, Engineer Benson Abounuat, and the All Progressives Congress, APC. The overwhelming nature of the mandate given to the Ortom Administration also underscored the peopleâ&#x20AC;&#x2122;s desire for positive change that could improve their standard of living in various ways. In response to the wishes of the people and in recognition of his divine mission, Governor Ortom, in his inaugural address, announced that the policy thrust of his administration would rest on five pillars. These are: Good governance and revenue security; Agriculturedriven industrialization; Science, technology, engineering, arts, Mathematics-based education and health services, investment in critical infrastructure; and promotion of gender equality and empowering women, youths, sports and persons with disability. He also made a strong commitment to rule with the fear of God, fight corruption, crime and gangsterism as part of a general resolve to make Benue a safe haven for investment and for citizens to feel safe enough to pursue their legitimate concerns. Six months down the line, the Ortom Administration can be said to have not only laid the necessary framework for good governance but achieved so much given the paucity of funds and other serious challenges it inherited. The first policy of the Administration that has attracted so much commendation is its full disclosure stance whereby every action or intention of government is laid bare in the court of public opinion not only to ensure that the people are properly carried along but also that they can offer constructive criticism. When a government divests itself of all forms of secrecy and behind-the-scene operations, it means it is ready to be accountable to the people that gave it the mandate and this will further deepen democracy and good governance. The Administration has also scored a major feat in the area of peace building and curtailing insecurity across the state with the introduction of the amnesty programme. The Programme, which was a swift response to the high level of insecurity and gangsterism which the administration met on ground, has been widely adjudged successful with the recovery of over four hundred different types of sophisticated weapons. Perhaps the biggest catch of the programme was the surrender of Terwase Akwaza, alias Ghana, a notorious gangster who had been declared wanted by the police and army. With his group they surrendered about 100 assorted rifles and thousands of ammunition. In addition, about seven hundred youths who submitted themselves to the programme were trained at a retreat to be re-integrated into the larger society while remarkable peace is being witnessed in the

state presently. Relatedly, the Governor has, through deliberate measures, enhanced peace between Benue farmers and herders and held peace and security meetings with his Taraba counterpart to promote lasting peace along the Benue-Taraba corridor. It is also on record that it took the intervention of Governor Ortom immediately he assumed office, for the industrial action embarked upon by various staff unions of Benue State University, Makurdi which had already lasted for months, to be called off. Those who are familiar with the strategic importance of the University to the entire State, would understand why the new Governor wasted no time in ensuring that the staff returned to work and students to lecture rooms. This an institution that has representatives from every council ward in the state and beyond. For the first time since its establishment about twelve years ago, the College of Health Sciences, Benue State University, Makurdi, successfully graduated the first set of its Medical Doctors who are now undergoing their housemanship at the Teaching Hospital. The Ortom Administration made this feat possible by meeting all the requirements that made the Medical and Dental Council of Nigeria to accredit the College after so many years of non-accreditation. There is no doubt that the twenty seven pioneer graduates of the College, their parents and relations as well as the entire Benue Community who would be the end beneficiaries of their services in the various hospitals, are grateful and indebted to the Administration. For three years before the Ortom Administration came on board, the accreditation status of the School of Nursing and Midwifery, Makurdi had been withdrawn in spite of the critical role the institution plays in the health sector of the State and beyond. The Governor, worried by the situation, resolved to speedily work towards providing all the accreditation requirements so that the School can be re-accredited and towards this end, Government has embarked on massive construction and renovation work there. To promote the administration of justice, the Governor inaugurated the council on Prerogative of Mercy, granted amnesty to more than 100 persons serving various jail terms, swore in an acting President and two Judges of the Customary Court of Appeal. In the information sector, the Ortom Administration has procured 10 kilowatts FM transmitter for Radio Benue to boost the reach of its signals in addition to supporting the African Independent Television, AIT, to establish its radio and television stations in North Bank, Makurdi. The Administration has also commenced on-going construction of the Daudu-Gbajimba road, and according to investigation, the contractor handling the project has been paid up to date thereby raising confidence that it will be completed in good time. To the relief of residents of Otukpo, Katsina-Ala and environs, the Administration, through a positive interface with the contractor handling the Otobi and Katsina-Ala water projects, has ensured that the taps

there are running again for the benefit of the people. To address the hardship created for civil servants and their dependents owing to the backlog of salary areas inherited from its predecessor, the Ortom Administration accessed N28 billion now called the bail-out fund to settle the arrears. Civil Servants at the State level have been paid their arrears while a good number of Teachers and Local Government staff are also being paid. We understand that the challenges associated with the e-payment system used for the exercise are responsible for the delay in the payment of some of them but a committee that is charged with the responsibility of handling complaints is addressing the challenges on a daily. Investigation also shows that the Government has been releasing the monthly pension of N394 million for state and N117 million for local government pensioners since May this year while the Governor has directed the Head of Service to carry out proper documentation of the other recently retired persons for the purpose of addressing their arrears. Apart from being one of the very first in the present dispensation to constitute the State Executive Council so as to operate fully within the ambits of the law, Governor Ortom also constituted two panels, one judicial and the other administrative, to look into the immediate past administration as part of efforts to promote accountability and let the people know what transpired. Realizing the urgent need to boost internally generated revenue in view of the dwindling allocation from the Federation Account, the Administration has constituted the Board of the Benue Internal Revenue Service thereby providing it with the necessary legal framework to step up internal revenue generation. As part of efforts to reduce cost of governance, Governor Ortom has insisted that retreats for Government functionaries be held at the Benue Peopleâ&#x20AC;&#x2122;s House, Makurdi instead of the Obudu Mountain Resort. The Governor has equally met with several prospective local and foreign investors as well as stakeholders of Benue Chamber of Commerce, Industry, Mines and Agriculture during which he impressed on them that Benue is a safe haven for investment, and it is hoped that before long, the positive results of this investment diplomacy will begin to manifest. There is no doubt that in view of the foregoing and many more that cannot be captured here due to limited time, the Ortom Administration has within the last six months demonstrated that he is faithfully executing the mandate of the people. As a Government run by human beings with human limitations, the Administration cannot be expected to be perfect, so we expect it to constantly review its policies and programmes in line with the feedback it receives so as to remain in tandem with the wishes of the people. We equally call on the people to desist from rumour mongering or spreading of falsehood and hate messages which are anti-development and rather offer constructive criticism that can assist Government perform better instead of unduly maligning it.

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

Metro

Teenager woos girl at gunpoint Dominic Adewole and Uchenna Inya

n 18-year-old man, Happy Eforpor, of Edere-Aviara in Isoko South Local Government Area of Delta State has been arrested for threatening to kill a girl and her mother if the girl refused his love advances. Police surveillance team received information that Eforpor, in company with two suspected cult members, went to the house of one Fejiro Independence in the same locality and asked her to be his girlfriend. But the she refused. Irked by her refusal, the suspects started to exchange words with the girl and when her mother tried to intervene, Eforpor pulled out a locallymade pistol and threatened to shoot them. The state Police Public Relations Officer (PPRO), DSP Celestina Kalu, disclosed this in Asaba yesterday. She said: “On receipt of the information, detectives were quickly despatched to the scene and arrested the said Happy Eforpor.” The PPRO, however, Efor-

Some suspected cult members.

por’s accomplice, Samson Dick, escaped. Kalu said one Oghenemaro Onowo of Edere-Aviara town, who allegedly aided the escape of the said Dick, was also arrested. She listed the items recovered from Eforpor to include a locally-made pistol and one expended cartridge. The PPRO added that investigation was on while efforts had been intensified to appre-

hend the fleeing Dick. Meanwhile, two suspected armed robbers have died during a shootout with policemen at Abakaliki, Ebonyi State. The gunmen stormed the Rice Mill junction on old Ogoja Road, Abakaliki and the Mechanic Village and dispossessed a couple of N250,000 realised from sales of rice. The robbers also went into the Mechanic Village and attacked a scrap dealer. They

were later confronted by some policemen who arrived the scene following a distress call. Confirming the incident, the state Police Public Relations Officer (PPRO), ASP George Okafor, said policemen went to the area immediately they received the distress call. He said: “On sighting policemen, the hoodlums opened fire on them and the policemen responded. The robbers were later overpowered and the robbers

were gunned down.” The PPRO disclosed that cash was recovered by the police at the end of the gun battle and that the pistol which the hoodlums used in the robbery was also recovered. Okafor warned criminals to leave the state or be ready to meet their waterloo. He also appealed to the people to continue to volunteer information on the activities of criminals to the police.

I got DSP uniform from a police friend –Suspect Gbemisola Idowu

olicemen attached to the X-Squad team have arrested a dismissed police inspector, who allegedly posed as a Deputy Superintendent of Police (DSP) in order to fool Nigerians. The suspect, Afoke Adetolani, 58, was arrested on November 25. He told police detectives that he got the uniform from a police friend. Adetolani said that the

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

friend died on duty this year. The suspect was arrested by X-Squad team, which was on patrol at Oshodi. The supposed ‘DSP’ was driving a Volkswagen commercial bus, marked KSF-662-XC on the day he was arrested. The bus was filled with building and electrical materials. He claimed the items belonged to his sister. Adetolani was once a police inspector attached to traffic section before he was dismissed. He said: “I started using the uniform this year. I used it to protect myself against officials of the Lagos State Transport Management Authority (LASTMA). They used to threaten bus drivers with arrest. To avoid been arrested by them, I decided to dress as a policeman to facilitate the movement of goods. I didn’t have the uniform of a policeman, but one of my friends, a policeman decided to help me. I told the policeman, who is now dead, to help me get the uniform, putting my name on

it. He collected N15,000 from me. After that, I began to use it. I would put it on whenever I wanted to drive. But on the day I was arrested, I didn’t wear it. I was driving the commercial bus to Oshodi. I wanted to go and deliver some electrical and building materials to my sister’s customers.” Adetolani recollected that policemen, who were on patrol, flagged him down. They searched the bus and found the uniform hanging inside. He added: “I was immediately arrested even though I wasn’t wearing the uniform. I had my identity card with me. The card was given to me by the same police friend that gave me the uniform. I flashed the ID card at them, but they still arrested me. “I was an inspector in 1984. I was dismissed after a young boy lied against me about a missing vehicle. I now drive a commercial bus to make ends meet. I wear the DSP uniform just to protect myself from Adetolani LASTMA harassment.”

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

Metro

Herbalist arrested for keeping weapons for robbers Kunle Olayeni and Taiwo Jimoh

he Special Anti-Robbery Squad (SARS) of Ogun State Police Command has arrested a herbalist for allegedly keeping arms for a suspected robbery gang. The police also accused the suspect, identified as Musiliu Otun, of making charms for the gang which had been terrorising innocent residents of the state. A statement yesterday by the state Police Public Relations Officer (PPRO), Olumuyiwa Adejobi, said the suspect was arrested at Itunranikenken area of Sagamu on Friday. According to Adejobi, some guns and ammunition as well as assorted charms were recovered from the suspect. He explained that SARS operatives, who had been working on a tip-off on the activities and involvement of the herbalist in many rob-

Otun

bery operations, carried out a raid on his house. In a related development, police operatives attached to

Adejobi disclosed that law enforcement agents, who responded to a distress call from the victims of the suspect, raced to the scene and arrested him with a locallymade pistol. The police spokesman stated that other members of the group fled. He, however, noted that the two suspects arrested were helping the police in their investigation. Adejobi added that efforts were on to apprehend other fleeing members of the syndicate. He said: “The Commissioner of Police, Abdulmajid Ali, has commended the police operatives who carried out the operations that led to the arrest of the suspects for their gallantry. “He has also directed that proper investigation be carried on the cases as Sagamu Division yesterday the command will leave no arrested one Kabiru Soyemi stone unturned to promote for alleged robbery and cult- adequate protection of lives and property in Ogun State.” ism.

I’m not harassing Roots TV boss with police –Tosan

he producer of Crime Fighters, Mrs Aisha Tosan, has denied using the police to harass the Chairman of Royal Roots Communication, the owners of Roots Television, Mr Greg Odutayo. In a rejoinder to the story published in New Telegraph on Thursday, December 10, Mrs Tosan she reported Odutayo to the police on November 28. She said: “As a Nigerian and a property owner in the estate, rather than take laws Tosan into my hands upon discovering the crime, I exercised my constitutional right of report- duty to investigate a coming it to the police, particular- plaint presented before it by ly as it bothered on crime for any aggrieved citizen. Mr. which I am also a victim. Odutayo was subsequently “Equally the police have a invited by the police to an-

swer to the petition of criminal conversion and stealing of a relatively new 650 KVA generator valued at over ten million naira, which he surreptitiously sold to himself as the then secretary of the estate for a ridiculously low and knock down price of two million naira. The police thereafter granted Mr. Greg Odutayo bail within 24 hours in accordance with the provisions of the law.” But Odutayo insisted he bought the generator legally and did not steal it as alleged. He said: “The sale of the generator was reported at a meeting presided over by Mrs Tosan. She even approved the purchase of a 13kva generator and prosecution of other projects from the proceeds of the 350kva generator.”

In the December 10 report, it was stated that the Police Public Relations Officer (PPRO) in charge of Zone 2, Chief Superintendent of Police Adebowale Lawal, denied that Mrs Tosan was using the police to harass Mr Odutayo. “We have respect for the rights of everybody. Mr Odutayo was arrested based on the petition and we had to do our job by investigating the allegation. “He did not spend up to 24 hours. He made a statement and was released in the presence of his lawyer. “We are still investigating the case and we will come out with our finding at the end of the investigation,” Lawal had said.

City Briefs Idanre prepares for Mare festival

danre community in Ondo State and its environs have been agog following preparations for the 2015 edition of the annual Mare festival on December 18 and 19. Activities lined up for the event include cultural display at the Idanre Hill Resort among other sporting and cultural activities. Artisans, motorcycle riders and students within the community and its environs have fully mobilised to make the festival a remarkable one as evident in the ancient town during the visit of Mare delegation to the town at the weekend. The Commissioner for Information, Mr Kayode Akinmade, led other members to visit the event venues after which a courtesy visit was made to the Owa of Idanre Oba Dr. Fredrick Aroloye, the Aladelokun of Alade, Oba Olusegun Akinbola, Oba Atosin of Itosin, Oba Awosoye Ogunlowo and other stakeholders.

Journalist moves to curb crime

journalist, Adeola Akinremi, has launched a mobile-friendly web application located at www. crimeonthego.ng as solution to crime wave in major cities in the country. According to Akinremi, a multiaward winning journalist and columnist, the web application will use crowdsourcing technique to solve and prevent crimes. He said: “Crimeonthego.ng is a web platform for people to report their daily encounters with crime situations. It is a form of community policing that is tech-driven. We are empowering citizens to become active participants in crime control and help law enforcement agents to prevent and solve crimes without delay.” The features of the site will enable citizens to provide and receive updates on criminal activities in their localities, while at the same time providing useful historical data about crimes in different neighbourhoods and cities across the country. “We see crimeonthego.ng as a tool to inform residents about criminal activities in their neighbourhood and in turn, help reduce crime. Citizens can now report crime on-the-go ranging from burglaries to auto thefts, touting to assaults and robberies with picture, audio and video effect.

Lagos dumps ‘Countdown’ for ‘Crossover Fiesta’ Muritala Ayinla

agos State government said it had dumped the annual colourful programme tagged Lagos Countdown for one-millionman party – One Lagos Fiesta - for this year’s crossover celebration. The government said the colourful ceremony which would mark the crossover to the New Year would take place in five locations across the state. Briefing journalists on the readiness of the govern-

ment to host the first edition of ‘One Lagos Fiesta,’ the Commissioner for Tourism, Arts and Culture, Mr Folorunsho Folarin-Cocker, said efforts were on to organise a hitchfree fiesta. He said the Countdown which took place during administration of former Governor Babatunde Fashola had been replaced with a modern fiesta that would be staged simultaneously at Ikeja, Badagry, Ikorodu, Lagos Island and Epe. Folarin-Coker said about 50 artistes would perform for

over 300 hours at the event. The commissioner disclosed that over one million people would welcome 2016 at the event, which according to him, is the biggest crossover party in sub-Saharan Africa. He said: “We reviewed the successes recorded so far with the Lagos Countdown and settled for a model that will turn the entire state into one community; celebrating change and the achievement of the past year with a strong expression of hope for the year ahead. “Lagos prides itself as the

economic and socio-cultural hub of sub-Saharan Africa with a flamboyant multi-cultural expression of its art. It is home to people from all parts of Africa and serves as a pot of diverse language groups.” The commissioner disclosed that the One Lagos Fiesta would further the tradition of the crossover celebration in the state with an expanded venue format. He added: “The event will also showcase the multi-cultural endowment and arts of the various communities

spread across the five administrative divisions of the state. “Consequently, we have decided to take the crossover party to Agege Stadium (Ikeja), Badagry Stadium (Badagry), Ikorodu Town Hall (Ikorodu), Bar Beach (Lagos) and Epe Youth Centre (Epe).” Folarin-Coker said adequate arrangements had been made for security, traffic management, sanitation, health and safety concerns. He, however, urged the public to be vigilant at all times.

10 News

N1trn fine: MTN negotiates further reduction — Sources Kunle Azeez

lDecember 31 deadline sacrosanct- NCC

TN Group continues to engage Nigerian authorities for further reduction in the $5.2 billion (N1.04 trillion) imposed on its Nigerian operations by the country’s telecoms regulator, the Nigerian Communications Commission, sources privy to the development told New Telegraph yesterday. The fine relates to the failure of the telecoms company to deactivate unregistered Subscriber Identity Module (SIM) cards on its network between August and September, this year.

“Well, I don’t know much about the details of what is going on after the initial reduction but I am sure we are still negotiating for further reduction in the fine. There could be better reprieve,” a source at MTN Nigeria told our correspondent yesterday. The regulator had on December 3, reduced the sanction by 25 per cent from N1.04 trillion to N780 million. “Without doubt, analysts and stakeholders have regarded the sanction as outrageous and our management is in talks to get more reduction.” A second source in MTN

monday, DECEMBER 14, 2015 NEW TELEGRAPH

NATIONAL

said: “You know NCC first gave us up to 35 per cent reduction, only to announce the following day that the cut was actually 25 per cent and not 35 per cent, citing a typographical error in the first letter for the mix-up.” When contacted, Director, Public Affairs at NCC, Mr. Tony Ojobo, said the NCC had taken a step considered reasonable in terms of 25 per cent fine reduction, stressing that MTN still has till December 31 to make the payment. “You know MTN has till end of this month to make the payment. So, that is the situation for

now,” he said. In a recent chat with our correspondent in Lagos, Ojobo had stated the initial reduction on the fine by the regulator was based on NCC’s consultation with the Federal Government following an appeal for fine reduction made in a letter by the erring telecom company. He said that NCC had to reduce the N1.04 trillion to N780 billion because the operator acknowledged that it had infringed on the laws. According to him: “MTN Nigeria pleaded for leniency and indicated that paying all of that money will impact on the ability of the network to expand.

FG commends BUA Sugar on investments he inter-ministerial tendance. They had a tour T National Sugar Road- of BUA Group’s Lafiagi map Implementation Sugar Plantation as well Committee (SURMIC) of the Federal Government has commended the management of BUA Group for its recent investments in its Lafiagi Sugar Company and encouraged the company to sustain the pace of ongoing work at the plantation. This was revealed when the SURMIC paid a monitoring visit to the Lafiagi plantation last week. The SURMIC visit, according to a statement from the BUA group, had the Directors of Technical and Planning at the National Sugar Development Council, the Manufacturer’s Association of Nigeria, the Ministry of Agriculture, The Ministry of Power as well as other high-level stakeholders in the sugar industry in at-

as an inspection of equipment and ongoing work. It was carried out to ensure compliance with the government’s backward implementation policy. Speaking during the visit, the Director, Technical, at the Sugar Council, Mr. Mohammed Jika, commended the pace of ongoing work at the Lafiagi Sugar Company as well as the investments in infrastructure on ground. “We are satisfied with what we have seen on ground. While the ongoing work is commendable, we expect BUA to sustain the current pace of work at Lafiagi into the future, so that Nigerians can start to benefit fully from the backward implementation policy of the Federal Government.”

Unionism would cripple Open University system — Survey Yekeen Nurudeen Abuja

L-R: Minister of Agriculture and Rural Development, Chief Audu Ogbeh; Central Bank of Nigeria Governor, Mr. Godwin Emefiele and Minister of Solid Minerals Development, Dr Kayode Fayemi, at the Bankers' Committee Retreat in Lagos.

Juliana Francis

midst fear that members of the Boko Haram sect has infiltrated states in Nigeria after dislodgement from north by Nigerian Army, churches and mosques have resorted to hiring services of antibomb policemen in Lagos State. There was fear yesterday at Ikeja area of Lagos after some citizens sighted anti-bomb police teams moving from one church to the church. Citizens feared the worst, thinking there might have been bombs planted somewhere.

Boko Haram: Churches, mosques invite anti-bomb squad But a police source described the movement of the bomb squad as quite normal and routine. According to the source, since the news from the Army broke that dislodged members of Boko Haram might move into other states to attack, churches and mosques in Lagos have taken to inviting anti-bomb teams to educate its members on detention of bombs and what to do in such eventualities.

The source said: “The movement of the bomb squad teams is just for sensitisation. The sensitization is about bomb awareness. It’s a normal thing. We do it every time; especially since the military said that escaping Boko Haram members into different states was a national threat. Now, most of the churches and mosques are inviting bomb squad teams to come and sensitise them.

“The members are taught identification of bombs and what to do when they see suspicious looking objects. Some of these churches and mosques had even engaged the services of anti-bomb policemen. The idea is to forestall any immediate threat. When the military revealed the threat, anti-bomb squads across the nation were instructed by the police top hierarchy to embark on massive sensitisation.”

ALGON/ NULGE move against illegal tax collectors in LGAs Yekeen Nurudeen Abuja

he Association of Local Government of Nigeria (ALGON), and the National Union of Local Government Employee (NULGE) have are combining to fight those they described as illegal

tax collectors in the nation's 774 local government areas. The two local government associations said they lose a whooping sum of N500million annually to the activities of illegal tax collectors. They particularly accused the National Association of Stick-

ers/Emblems Employers of Nigeria, who claimed to be an associate to Trade Union Congress (TUC), Vehicle Emblems and Stickers Permits Operators Association of Nigeria (VESPOAM), and Night Loaders Stickers. To this end, ALGON/ NULGE have signed a

Memorandum of Understanding (MoU) with the Joint Mobile Advertising Agency of Nigeria, and Mobile Advertisers Association of Nigeria (JMOAN/MOAN) in a bid to put an end to the exploitation of local government areas by those unauthorized agents or association.

Non Governmental Organization, the Vox Populi Foundation International has revealed that the high quality of education being delivered by the National Open University of Nigeria, (NOUN) may be jeopardized if unionists and their activities are allowed to be introduced into the system. According to a report compiled after gathering the opinions of students

of the institution from the 36 states of the federation by the NGO, its Coordinator, Anita Fagbemi, said the survey showed that students are opposed to the formation of unions in the school. She said that agitation by union members often leads to industrial crisis, which will impede on smooth running of the institution. The management of the institution has been at loggerheads with students and staff over the ban placed on union activities.

Biafra: Okorie cautions against another civil war Yekeen Nurudeen Abuja

he National Chairman of United Peoples Party (UPP), Chief Chekwas Okorie, has called on those agitating for self determination in the name of Biafra to exercise restraint. He said that is in order not to plunge the country into another civil war. Okorie, in a statement issued in Abuja yesterday, said that the people of the South East should ensure that by their attitude and efforts, they are serious about the issue of self determination. Self determination, according to him, cannot be achieved by slogan, civil disobedience or war in a country like Nigeria. He noted that such can only be achieved by deliberate effort at re-orientation, promotion of political consciousness and fo-

cused political action. His words: "I shudder to consider what a tragedy it will be to the hard enterprising Ndigbo if another civil disturbance of the magnitude of the BiafraNigeria civil war should occur in Nigeria again. “While we pray to God not to allow the repeat of such occurrence, there is so much we can do for ourselves to prevent it. It is a common saying that God helps those who help themselves. Ndigbo should be able to ensure that by their attitude and effort that they are indeed serious on the issue of self-determination. Self determination cannot be achieved by sloganeering, civil disobedience or even war in a country like Nigeria. “Self-determination can be achieved by deliberate effort at re-orientation, promotion of political consciousness and focused political action."

NEW TELEGRAPH MONDAY, DECember 14, 2015

Kogi guber

Why we settled for Bello as Audu’s replacement, by Odigie-Oyegun

Agenda

Echoes of restructuring at Yoruba summit

Power tussle

APC splits in Kaduna

Politics

Minority’s rise to power Yusuf Mohammed reports on the power play that saw the ascension of the minority to Kogi State governorship for the first time in 24 years

istory was made in Kogi on December 6, following the emergence of a non Igala indigene as the Governor-elect, the first time since the state’s creation in 1991. The feat followed the defeat of the incumbent governor, Capt. Idris Wada, who hails from Kogi East (Igala) in the recent governorship election by the candidate of the All Progressives Congress (APC), Alhaji Yahaya Bello, an Ebira man. Some people, however blamed the emergence of the minority on the death of the initial candidate of the APC, Prince Abubakar Audu and the poor performance of Governor Wada. The Igala Prince and former governor was coasting to victory before his demise. It would be recalled that in the build up to the election, party stakeholders within and outside the state including former President Goolduck Jonathan; former PDP National Chairman, Dr. Ahmadu Ali and former Kogi State governor, Ibrahim Idris tried convincing Wada to shelve his ambition and throw his weight behind Jibrin Isah, who was more popular and accepted by the people. Isah is believed to be a more acceptable candidate but Wada resisted the plot to deny him a second term and used everything within his power to emerge as the candidate of the PDP to the dismay of many party stakeholders. Analysts believe that Wada’s emergence as the party’s flag bearer against the wish of stakehold-

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Audu

ers was the reason why the former President ignored the political rallies of Wada. It was also believed that Wada’s poor performance in office is as a result to the legal battles he faced as soon as he was sworn in as governor on January 27, 2012 while others assumed shear incompetence and lack of preparedness made him not to perform well. Despite these, there is no doubt that Wada’s political steps have been controversial right from when he ventured into politics. The first was the manner he became a member of the PDP. It was alleged that Wada wasn’t a member of the party until he was anointed to become governor by his brother in-law and predecessor, Idris. Isah had emerged as the flag bearer of the PDP in January 2011, but two weeks to the gubernatorial election, a Federal High Court in Abuja elongated the tenure of five governors including that of Idris. There was to be no hand over on May 29 as a result of that judgment. Unfortunately for Isah, the highly anticipated election could not hold. It was heart breaking for him after the elaborate rallies which then President Jonathan attended. Later that year, there was an-

Wada

This development would see to the dream of the founding fathers of the state

other primary election which produced Wada instead of Isah after Idris dumped him for Wada. The pilot-turned politician emerged from the blue to become PDP’s candidate. It was alleged that Isah’s sin was that he was perceived to be too close to Prince Audu, a known political enemy of Idris. Wada later emerged victorious in the December 3 election amid controversy. He became governor in waiting hoping to be sworn in by April 3. He was home but not dry because what followed was a shocker. The Supreme Court sacked the five governors whose tenures were extended. Everyone expected that the judgment would thereby reactivate the earlier PDP primaries conducted in January 2011 ahead of the May 29, 2011 exit date because Wada’s emergence was as a result of the elongation of tenure of Idris. Many felt that in the eyes of the law, Wada was not to be recognised as governor of Kogi State because of the popular view that every activity that led to his electoral victory was null and void. The Supreme Court judgment meant that the speaker of the state Assembly will take over pending another election. The speaker, Abdullahi Bello was sworn in by

the Chief Judge of the state, Justice Nasir Ajanah. On that same day, Idris dragged the president of Kogi State Customary Court, Justice Shuaibu Ibrahim Atadogato to swear in Wada. It became a case of two governors in the state in one day and one of the most embarrassing moments in Nigeria’s legal history. At the end, Wada defeated Isah in the legal battles that ensued. The manner in which he emerged and his style of leadership created bad blood within the party. Aggrieved members of the party were not appeased and the masses also felt they were neglected because they did not see projects that benefited the state or touch their lives directly. Political pundits were of the view that Wada would be the undoing of PDP in the 2015 election if he remained the party’s candidate. Today that prediction has come to pass. On the other hand, the APC chose the late Prince Audu, who was a two time governor of the state as its governorship candidate. It is believed that the two main parties, PDP and APC fielded Igala candidates to be on a safe side. CONTINUED ON PAGE 12

Politics

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

However, some analysts are of the view that the choice of the PDP and APC edged out the Igala from the most coveted seat in the land. Kogi state comprises of three major ethnic tribes which are the Ebira and the Okun coming from former Kwara State, while the Igala who are found in the eastern flank of the state and excised from Benue State. The Igala have been producing governors since 1991 and in the build up to the 2015 election, the two major parties, the PDP and the APC decided to field candidates from Kogi East as usual. That was done in order not to repeat what most political analysts termed a ‘mistake’ in 1999 when PDP fielded a non-Igala and lost to All Nigerian Peoples Party (ANPP) who put forward Prince Audu. Audu was hailed for establishing the first ever university in the state which he named Prince Abubakar Audu University and was later changed to Kogi State University by his successor (Idris). Despite Audu’s achievements in the area of infrastructural development, his style of leadership was criticised by political actors and observers. They accused him of being highhanded and not respecting traditional institutions. Unlike 1999, the PDP in their quest to wrestle power from the ANPP fielded an Igala man in the person of Idris during 32003 governorship election, and with help from the powers that be in Abuja, he defeated Audu. Popularly known as “Ibro,” Idris governed for eight years before handing over to Wada. But the clamour for power shift from Igala (Kogi East) to other parts gained prominence during Wada’s tenure. Some analysts reasoned that Wada’s poor performance heightened the agitation. “The reason why people from the West and Central zones found their voice is because Wada performed poorly. If Idris had supported Jibrin Isah or Yakubu Mohammed in 2011 to succeed him instead of Wada, we wouldn’t be here talking about power shift but about the progress of the state. Any of them would have performed better than Wada, who lost because he performed poorly,” Abdullahi Idris who hails from Kogi East, said. The arguments, notwithstanding, the people from Kogi Central have realised their dream in an unprecedented way. The APC governorship candidate in the November 21 election, Prince Audu, who was leading by a margin of 41,000 votes, died after the election was declared inconclusive and Yahaya Bello was nominated by the party to replace him. Nowhere in the constitution was it envisaged that there could be an instance, where a candidate on the verge of winning a poll would suddenly die. The position of the law on substitution or change of candidate is encapsulated in Section 33 of the Electoral Act 2010 (as amended). It provides as follows: “A political party shall not be allowed to change or substitute its candidate whose name has been submitted pursuant to section 32 of this Act except in the case of death or withdrawal by the candidate.” Section 36 (1) of the Electoral Act also states that: “If after the time for the delivery of nomina-

MONDAY, DECember 14, 2015 NEW TELEGRAPH

Wada’s fall and rise of Kogi minority

Bello

Faleke

Idris

Ocholi

tion paper and before the commencement of the poll, a nominated candidate dies, the Chief National Electoral Commissioner or the Resident Electoral Commissioner shall, being satisfied of the fact of the death, countermand the poll in which the deceased candidate was to participate and the Commission shall appoint some other convenient date for the election within 14 days.” Perhaps, this section was what the Attorney-General of the Federation and Minister of Justice, Mallam Abubakar Malami, relied on, when he offered a legal opinion, saying that the election has to be concluded and that it would only require the APC, to substitute its candidate, Audu, who died on November 22. The APC followed suit by nominating Bello after a rigorous process for the supplementary election. The decision was however not an easy one. This is because of the peculiarity of the matter and the nature of Kogi politics. According to a member of APC

Bello has emerged and the least we can do is give him our support

who pleaded for anonymity, “replacing Audu wouldn’t have been difficult if an Igala man had finished second in the primaries that produced Audu as candidate. The difficulty was because the runner up, Yahaya Bello is from Ebira land. On the other hand, if INEC had declared Audu the winner of that election, James Faleke would have been the governor-elect.” Bello’s emergence as the party’s governorship candidate triggered mixed reactions in the state. Some people from Igala land tried to come to terms with Bello’s candidature while some others insisted that the election be canceled for a fresh election to be conducted. Some even suggested that late Audu’s son, Mohammed, should replace his father, but reason prevailed and Bello entered the race, and as expected emerged victorious. However, the dust over Bello’s emergence as Governor-elect is yet to settle. The Igalas are yet to come to terms with the loss of the governorship position. But,

Unekwu Usman, member of APC Youth Forum in the state, told New Telegraph that, “Yahaya Bello has emerged and the least we can do is give him our support. He isn’t Igala but he is an indigene of Kogi State. Power belongs to God Almighty and he gives it to whoever He wills.” In the same vein, Bala Nayashi from Ebira land said, “This development would see to the dream of the founding fathers of the state ensuring all the sections of the state have sense of belonging in the scheme of things in the state.” “The people from the both central and western parts of Kogi State in the past have been supportive of the Igala candidates seeking position of the executive governor of the state. We expect that such gesture should be extended to other parts of the state by our Igala brethren to support any such candidates from either Kogi west or Kogi central in the interest of lasting peace,” he added. However, Audu’s running mate, Hon. James Abiodun Faleke, has kicked against his party’s decision and has threatened to ignore the swearing in ceremony on January 27, 2016. Faleke’s argument in court is that both INEC and the APC erred by, first, declaring the election inconclusive when the circumstances leading to cancellation of votes in most of the affected polling units bothered on over-voting and refusal to use card reader which amounted to violation of the Electoral Act of 2010. In a move to resolve the lingering crisis and broker peace, the Minister of State for Labour and Productivity, James Ocholi (SAN), an indigene of the State, convened a meeting in Abuja recently on the issue. It was learnt by New Telegraph that the meeting was attended by party stalwarts from the three senatorial zones, and it was agreed that efforts should be made to reconcile Bello, Faleke and other aggrieved persons. According to an APC chieftain in the state, Dr. Onukaba Ojo, who attended the meeting, “a committee of elders is to be set up, comprising people from the three senatorial zones to promote reconciliation, good governance and peace in the state.” He added that the committee will also explore the possibility of out-of-court settlement of existing cases on the governorship poll, while the stakeholders meeting should be held regularly to promote the interest of the state. “Personally, I was encouraged by the mature, reconciliatory remarks of most of the attendees. They said they were more concerned about good governance in the state than where the governor comes from,” Ojo said. Those who attended the meeting included a former APC governorship aspirant, Yakubu Mohammed; Senators Abdurrahman Abubakar and Mohammed Ohiare; a member of the House of Representatives, Jibrin Baba, and Prof. Olu Akerejola, among others. While Faleke who has refused to deputise Bello, showed up in the House of Representatives last Tuesday, where he took part in the legislative business of the day, political intrigues before the January 27 inauguration, will determine the direction of the incoming APC government in the “Confluence State.”

Politics

NEW TELEGRAPH MONDAY, DECember 14, 2015

Kogi: Why we settled for Bello as Audu’s replacement, says Odigie-Oyegun effect of the hardships that may come to the ordinary Nigerian. Eventually, subsidy will have to go but we have not reached that stage yet because you cannot just wake up and announce that subsidy has been removed without putting adequate programmes in place to cushion the negative aspects that may be involved.

The National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, recently engaged the media on the crisis over the replacement of the party’s Kogi State governorship candidate, Prince Abubakar Audu, who died before the election was concluded. He also spoke on other issues as they affect the party. Johnchuks Onuanyim brings the excerpts

What is the position of the party on the legislation on Social Media going on? The President has spoken on this and as a party, we stand where the president is standing.

Odigie-Oyegun

What is the state of the party and governance as at today? Government has settled down and we are beginning to see a manifestation of what the administration stands for and the direction it is likely to travel in the next few weeks. You are aware that final touches are being put to a N6 trillion plus budget, which will start the process of addressing the promises that President Muhammadu Buhari made to Nigerians. I am very aware of the impatience dying out, but we will continue to appeal on the basis of the fact that there are no magic wands, no magic solutions. The budget for next year is indeed the first opportunity of the administration to strike out in a direction that it has promised the people of this nation and I have always had the opportunity of saying the difference will become clear in the next six months, that does not mean that all issues will be resolved within the period. In another six months, the people will begin to see clearly that we are on the road to addressing their urgent needs – the stresses that the total economy is going through now. The period of learning was most vital, most necessary. I have said repeatedly that things turned out a lot worse than we expected, therefore it was necessary for the administration to first, get to grips with realities on the ground before it starts addressing the methodologies for bringing about the changes and the corrections in the system that we promised the people. Institutions of state must be rebuilt and revived because they have been largely undermined and destroyed and no economy, no society, no polity progresses can be made without strong institutions, which can deliver irrespective of whatever government is in office. That is the direction in which this administration is traveling. Kogi is basically resolved, thank

God in favour of the APC. Very unfortunate and tragic events occurred that the entire polity had to be looking for solutions to the problems, which detailed as they were, were not envisaged and provided for in the constitution and the in the next few weeks, depending on who goes to court or who doesn’t, we will know the boundaries of the law in respect of these issues. As at now, we are very glad about the result that we have and I am very sure that it would be upheld virtually in every tribunal whatsoever because we adopted a simple commonsensical solution, which is legally defendable given the unfortunate situation we found ourselves in. As for Bayelsa State, we cannot but express our disappointment that things have gone the way they did, I am unhappy that in spite of the notice, the conditions for truly free and fair election could not be guaranteed. We are unhappy that the results from the most populous voting areas which are strongholds of the APC had to be cancelled, which rendered the election inconclusive. All one can say at this stage that pronouncements have been made, is that as a party, we will be patient and we will give the benefit of the doubt and we will go on whenever the re-run for southern Ijaw is slated. We already have issues and we hope we do not have to press these issues either in a tribunal or in a court of law. But for now, we would hold our peace and allow the processes to be concluded. We are ready to bend with the expectation that everyone will simmer down over time because life has to continue. So, bringing out the big stick in a situation like that is usually difficult but there will be a timeline to it. The crying, grieving, and disappointment should be over because life has to continue. There is need for clarification on who speaks for the APC in the absence of

a National Publicity Secretary? I will start by saying who does not speak for the party. The person, Timi Frank, you are talking about does not speak for the party. Secondly, if there are any issue that needs clarification for now, pending when we have a substantive publicity secretary, the national secretary will do so for the party. Also, when I speak, l speak for the party. It is as simple as that. Alhaji Lai Mohammed exit from the executive of the party was a great loss but he’s still within the system. He was truly very special and unique, but as we speak, the National Secretary of the party has largely on temporary basis, taken up the job of communication to the press and myself (as the Chairman) is always available to respond to any enquiry.

For us in APC, Kogi is a settled issue, if you want to go to the tribunal, we’ll meet you there

The party’s Deputy Governor-elect in Kogi State, Hon. James Falake, has categorically said that he would not be available for swearing-in on January 17. What happens if he goes on to do that? On the Faleke issue, it is rather a straightforward and easy issue. We have replaced the governorship candidate. If the need arises and subject to what the law says, we will also get a deputy governorship candidate but we will cross those bridges as they arise. The Peoples Democratic Party-led government was prevailed on by the people not to remove fuel subsidy. But as it stands, they want the subsidy to go. Would you advise the APC government to remove subsidy as it seems that such has not been captured in the 2016 proposed budget? What is covered or what is not covered, we do not know because the budget is still at various stages of construction. Whether subsidy goes or stays is an intricate and major issue. If it has to go, the government must have to come up with palliatives to cushion the

How about the cut on minimum wage being canvassed by the governors who are more of APC. Minimum wage is a delicate issue because there are a lot of forces at work. The economy was run aground so badly that they have to borrow to pay salaries and this was not the creation of APC. Today, all governments are borrowing to pay salaries and that cannot be sustained. There is no method that is adopted that will not create stress on a system but at the end of the day, we will find an answer. There are vacancies in the party’s National Working Committee (NWC). How soon will they be filled? Arrangements are being made to go through the constitutional processes of filling those vacancies. That is already underway. How is the party managing its successes? There has been stress originating from the nature of the party itself but they are all part of the settling down and we are resolving them eventually. The power structure and tussle in the party is normal and desirable and the earlier we sort out these issues and challenges within the party, the better it gets for the administration. So, I will say it is good that within the first few months of our administration that issues to be addressed are brought forward at the early stage of our government, in another few months, I believe all these issues will be put behind and we will have a truly consolidated APC. Some groups have condemned the Bayelsa State governorship election, while others faulted your party on late Audu’s successor. What are your takes on these issues? We are not worried, the Kogi situation is still evolving and we will cross every bridge as we get to it. We’ll wait and see who does what and work out answers that meets each situation. We have won the election in Kogi, so those who will feel aggrieved are to call to question whatever they feel aggrieved about and we are going to meet them on those grounds. For us in APC, Kogi is a settled issue, if you want to go to the tribunal, we’ll meet you there, if you want to go to court, we’ll meet you there. On Bayelsa, I’ll say that we are CONTINUED ON PAGE 15

Politics

For the second time in three months, leaders of pan Yoruba groups met to deliberate on the restructuring of the polity, unity among the sub-ethnic groups in the South-West and other issues affecting the zone. Babatope Okeowo reports

MONDAY, DECember 14, 2015 NEW TELEGRAPH

Echoes of restructuring at Yoruba summit

t was a meeting of various Yoruba groups under the auspices of Yoruba Summit and they included the Yoruba Unity Forum (YUF) led by revered Bishop Bolanle Gbonigi; the Pan Yoruba socio-cultural group, Afenifere, led by Pa Reuben Fasoranti; Oodua People’s Congress (OPC) led by Otunba Gani Adams; Yoruba Council of Elders (YCE) led by General Adeyinka Adebayo (rtd); Oodua Foundation and Agbekoya. The Ondo State governor, Dr. Olusegun Mimiko, members of his cabinet and some traditional rulers in the state were at also at the summit which was the second within three months. The first summit held in Ibadan, the Oyo State capital and was sequel to the abduction of former Secretary to the Government of the Federation (SGF), Chief Olu Falae in his farm in Ilado, in Akure North local government. The summit, which was the first unity meeting of all the pan Yoruba groups focused on national security and menace of Fulani herdsmen in Yorubaland. The summit took a clear position on the growing menace of nomadic Fulani cattle grazers across Yorubaland. It spoke the mind of the people that those who want to engage in cattle business in should establish ranches as Yoruba people have become sick and tired of encroachment on their farmlands, brutal attacks on their families and wanton violation of their rights. The second summit, which held in Akure, the Ondo State capital focused on the economic downturn and unemployment in Yorubaland. Dr. Yemi Farounbi, who was the discussant said the school curriculum must be reworked so as to give students the basic tool to be job creators instead of looking for white collar job after graduating from schools. He also suggested among others that the governors in the zone should develop the tourism potentials in their respective states in order to create jobs for the youth. Despite the rivalry among the groups over who represents the interest and voice of the race, they were however unanimous on the way forward and the development agenda for the zone. It must be noted that YCE led by General Adebayo was an offshoot of Afenifere. It was formed to rival Afenifere, the mainstream Yoruba group when Chief Olusegun Obasanjo was Nigeria’s president. The YUF was formed when the crisis between Afenifere and YCE could not be resolved. OPC and Agbekoya had remained the militant arm of all the Yoruba groups. But the rivalry paled into in-

L-R: Former Secretary-General of the Yoruba Council of Elders (YCE), Dr. Kunle Olajide; leader of Afenifere, Chief Reuben Fasoranti; Pa Ayo Adebanjo; Ondo State Governor, Dr. Olusegun Mimiko; Afenifere Secretary-General, Chief Seinde Arogbofa and Rt. Revd Bolanle Gbonigi, at the Yoruba Summit held in Akure...recently.

significance as all the groups met under the auspice of Yoruba Summit to chart a way for the Yoruba as the elders agreed that the people are losing relevance in the scheme of things in the country. The race which held sway in the economy, media, sports and education sectors is being relegated to the background hence the need for the zone to wake up from its slumber. All the discussants at the meeting including Chief Olu Falae, Bishop Gbonigi, Sir Olaniwun Ajayi, Chief Ayo Adebanjo, Governor Mimiko and General Adebayo said the only solution to the myriads of problems confronting the country is the restructuring of the system. They argued that the implementation of the 2014 National Conference report by the Federal Government will solve the Fulani herdsmen problem; the separatist agitation of the Indigenous Peoples of Biafra (IPOB) in the South-East and the marginalisation cry of the minority. Mimiko, who acknowledged that the 2014 Conference offered Nigerians an uncommon opportunity to discuss their collective future, added that the 492 delegates, through consensus, passed over 600 resolutions that touched critical issues that had impeded to Nigeria’s development and attainment of nationhood. He further said the country is suffering the adverse effect of the dwindling revenue from the oil and gas sector, which overtime has accounted for about 95 per cent of its income. According to him, the economic situation is biting so hard in several states as allocation from the Federation Account has sharply declined, thereby incapacitating the payment of workers’ salaries, provision of infrastructures and delivery of social services. He said the precarious situation is not about ending as the Federal Government has earmarked $38 as the benchmark price per barrel of crude oil as a basis for packaging the 2016 Budget. His words “Foremost on the over-reaching recommendations was the need for political restructuring. This is to retain a federal system of government with states

The 2014 National Conference report must not be confined to the dustbin of history

as the federating units, with all the powers and resources thereto. It would allow states that wish to merge do so in accordance with the constitution of the Federal Republic of Nigeria, a possibility that is no longer too far-fetched given the financial crises in which most states of the federation have now found themselves. “The restructuring would also accommodate the establishment of state police to enhance national security. In the economic domain, exploitation of solid minerals would be taken from the Exclusive Legislative List, such that states would be able to harness the solid minerals in their jurisdictions, thus creating employment, generating more revenue and developing at their own pace. “It is evident that implementation of the 2014 Confab report has the potentials to liberate every part of Nigeria and ultimately, open up the political space. It is only such a courageous move that would extirpate centrifugal forces burgeoning and threatening to tear Africa’s largest nation apart. The latest is the resurgence of the demand for an independent Biafra. “I use this opportunity to call on the Federal Government to exercise utmost restraint in managing this renewed agitation, which the implementation of the Confab report would have made otiose. The 2014 National Conference report must not be confined to the dustbin of history, as it possesses inherent capacities to replace the centrifugal forces threatening the existence of Nigeria with centripetal forces that could build a nation.” Adebanjo, Falae and Ajayi harped on the need for unity among the people of the zone and recommended periodic meetings between leaders and the governors who have the constitutional mandate to implement their resolutions. The summit, which reviewed the harsh economic reality in the country as evident in the massive unemployment of youths, fuel scarcity and the weakening of Naira, called on the Federal Government to roll out a comprehensive economic plan to rebuild infrastructure, reflate the economy, create jobs, raise

the standard of education, provide affordable healthcare and review monetary policies making foreign investors to flee Nigeria. While acknowledging the realisation by the Federal Government that the mono-product economy has collapsed within the contest of dwindling oil revenue, necessitating the diversification of the economy in order to create new corridors of prosperity, the summit, however noted that this would be impossible without changing the 1999 Constitution, which prevents the federating units from exploring the resources under their soil. The summit also called for a meeting of Yoruba states governors with leaders of the nation to fashion out an agenda for cooperation that would leverage on the economic strength of each state to create a conducive atmosphere for entrepreneurs to tap into the resources across states that could empower the people to float businesses capable of engaging millions of unemployed youths. The governors were advised to pay attention to Small and Medium Enterprises (SMES) and the tourism potentials of the region in creating jobs. The elders noted with regret that the activities of Fulani herdsmen have continue to constitute a menace to the host communities and called on the Federal Government to put a stop to this scourge by facilitating the establishment of ranches to prevent nomadic grazing and associated conflicts and criminalities. They added that government cannot continue to talk about agriculture when the nomads keep frustrating the peoples’ efforts. Reviewing the renewed agitation for the state of Biafra, the summit asked the government to look critically into the causes of separatist feelings and initiate constitutional reforms to give a sense of belonging to all constituent units of the country. It also advised the government not to allow the cracks in the polity to get out of hand before it intervenes. The Yoruba leaders also called on the governors of states in the zone to secure their environment and prevent the infiltration of Boko Haram members into the region.

Politics

NEW TELEGRAPH MONDAY, DECember 14, 2015

IBRAHEEM MUSA traces the genesis of the crisis in the ruling All Progressives Congress (APC) in Kaduna State

APC splits in Kaduna

ngaging, controversial and straight talking, Malam Nasir el-Rufai is unsparing in his criticisms. Severally, he had crossed swords with the Peoples Democratic Party (PDP)-led government. In particular, the politics, policies and philosophy of the party came under his sharp tongue when el-Rufai was in the opposition. Specifically, he had accused PDP of cronyism, lack of focus and internal democracy in both politics and governance. However, the tables have now turned and el-Rufai, as governor of Kaduna state, is allegedly acting the very PDP script that he had denounced. Severally, his All Progressives Congress (APC) party men, across ethno-religious divides, had accused him of arrogance, lack of consultation and hijacking the party in Kaduna state. Last week, push came to shove and a group cried out to the national secretariat. Significantly, the party has now been factionalised and a group, comprising all APC scribes, addressed a press conference penultimate Saturday. The group, according to reports, styles itself the True All Progressives Congress and its spokesman, Alhaji Murtala Abubakar, spilled out their grievances to the public. Quietly, they had sought for redress but increasingly, the prospect seemed bleak as, according to the spokesman, the national secretariat turned deaf ears to their several pleas. At this point, silence may be misconstrued “and we will fail the millions of people,” he had pointed out, “who expect our party to operate with requisite standard of responsibility and accommodation if we continue to maintain silence.” Consequently, they went public with their complaint, alleging the absence of a functional and autonomous party structure. As a result, ‘’this has created a long distance between the state government and the teeming party members,’’ Murtala alleged. This situation, he pointed out, is in line ‘’with the desire of the state governor, Malam Nasir el-Rufai, to rule without opposition or counsel from any quarter.’’ “In addition, el-Rufai’s policies, programmes and style of governance are not only anti-people but have caused misery and pauperisation.” Specifically, the governor’s alleged high handedness, according to the True APC, ‘’has now created the impression that the APC administration has turned against the people.’’ Expectedly, the nascent group had dissociated itself from these policies as according it, they “seeks to compound the sufferings of the people.’’ However, the state chapter of APC, in a swift reaction, had absolved el-Rufai of all these allegations, arguing that his policies are in line with the party’s manifesto.

el-Rufai

Ashiru

According to Salisu Wusono, the acting publicity secretary of the party in the state, the APC remains one and indivisible in Kaduna state, with a leadership and a structure in place. “Specifically, APC has produced 90 per cent of the state and federal legislators as well as a state governor and for this reason, it is laughable to claim that the party is not functioning,” Wusono had argued. Expectedly, he carpeted True APC for taking on el-Rufai’s style of leadership, stressing that any party member who questions the policies and leadership of the governor is either ignorant or doing so deliberately. Wusono also listed the free education programme, the proposed 255 primary Health Care Centres and the verification of workers which fished out ghost workers as some of el-Rufai’s landmark policies. Afterwards, he posed a rhetorical question, ‘’are these anti-people policies?’’ For political pundits, however, the split of Kaduna APC was inevitable, especially after the general election. Since then, there has been a growing discontent as the various factions have been complaining of exclusion from both the government and party structure. When he emerged gubernatorial candidate, el-Rufai had reached out to almost all the

It is laughable to claim that the party is not functioning

other aspirants. On December 5, 2014, a day after the primaries, the APC flag bearer had gone to Hon Isa Mohmamed Ashiru, his main rival’s house unannounced. El Rufai and his entourage met with the former House of Representative member and the two of them prayed for success in the general election. The meeting had lasted for about 30 minutes but the encounter resonated APC members in Kaduna state. Earlier, there were widespread fears that Ashiru and his team, including Ambassador Sule Buba, Alhaji Yaro Makama Rigachukun and Alhaji Ibrahim Yaro will return to PDP, a party which they had defected from on December 24, 2013. However, at that meeting with El Rufai, Ashiru had debunked that rumour and pledged his support to the party and its flag bearer. After that visit, the horse trading then began between the two camps, in the run up to the general election. During the negotiations, the Ashiru group had demanded to produce el-Rufai’s running mate and it had proposed Mr Ben Kure, its Organising Secretary for the post. However, the el-Rufai group refused to accede to that request. Afterwards, Ashiru’s camp had asked for el-Rufai’s position of Deputy National Secretary since he had emerged as APC’s flag bearer. Again, its request was turned down. Yet again, the defeated camp asked for Alhaji

Suleiman Hunkuyi’s position of Deputy National Organising Secretary, seeing that he has clinched the party’s northern senatorial ticket. Again, the position was not conceded to the Ashiru camp. In fact, against all odds, El Rufai had chosen Architect Barnabas Bantex, APC’s state chairman, as his running mate. Following that choice, the Ashiru group had pitched for Bantex’s position in the party but it was not given to them. Bantex, like el-Rufai and Hunkuyi, have combined both party and elective positions. At a point, the Ashiru camp stopped making further demands but resolved to remain in APC. Significantly, few of Ashiru’s men found themselves in the APC gubernatorial Campaign Council but they were chosen on their own personal merits. Ambassador Sule Buba, Alhaji Yaro Makama Rigachukun and Alhaji Ibrahim Yaro were made members of the campaign council. In addition, Engineer Namadi Musa and Mr Ben Kure emerged Director of Interfaith and Director General of the campaign team respectively. Thereafter, APC won both the presidential and gubernatorial elections in the north and central senatorial zones. Similarly, the National Assembly election results followed the same pattern as APC only lost the southern senatorial zone to PDP. After the elections, APC had set up various Transition Committees but none of Ashiru’s men was a member of any of them. The committees met and made far reaching recommendations but the Ashiru camp was not part of them. After the committees have submitted their reports, another round of scheming started again and for the third time, the Ashiru camp lost in every segment. First, none of Ashiru’s men or a nominee of the rest gubernatorial aspirants has made it to the State Executive Council as el-Rufai’s men hold sway. For example, Alhaji Muhammad Bashir Saidu, APC’s state secretary who is Commissioner for Local Governments and Chieftaincy Affairs, was el-Rufai’s class mate at Barewa College. Like el-Rufai, Bantex and Hunkuyi, Bashir also combines both a party post and cabinet position. For analysts, the winner-takesall attitude of the governor and his men, more than anything, may have been the catalyst that brought True APC about. However, whether the party will weather the storm and cement the cracks on its wall would be determined in the days ahead.

Kogi: Why we settled for Bello as Audu’s replacement, says Odigie-Oyegun C O N T I N U E D F R O M PA G E 1 3

far from being satisfied with the conduct of the poll but the Independent National Electoral Commission (INEC) has made a pronouncement and you can’t get them to take it back unless you go to court. So, we are waiting for the process to be concluded, but I must say that we have a lot of reservations about what has gone up to this present moment. We will wait till the processes are concluded, that is when we are going to decide what our next action will be. If we win as we expect, the kind

of reactions that we’ll take will be different if the outcome goes the other way round. Will the party sanction Faleke for declaring himself candidate of the party and what your position on the proposed N5, 000 payment for vulnerable youths? All l will say is that we should not jump the gun. There will obviously be a legal backing to any move. The difficulty involved have been worked on and what is important is that the scheme will start irrespective of whatever imperfection that may come with it. We’ll

keep building on it as the months go on. It is not going to be a mere scheme where we pay people money and they go home and sleep. No. It is going to be tied to ability to look for job and training, so as to make it possible for you to be qualified for better employment opportunities. It is going to be a comprehensive package that will make sure that people are going out of the scheme and some new ones are coming in. For Faleke, as political party, we simply understand the frustration that emanated from the death of Prince Audu. However, it

is normal for us to accommodate the immediate reactions coming from the people involved. They were at the gate of victory but was shut at their faces because of the unfortunate death of their mentor who would have been our governor in the state. So, a lot of things which normally we would not have accepted happened, but we have to accept them so long that everybody will calm down as time passes by. Wielding out the big stick in a situation like this might not be appropriate but there will be a timeline to it, enough will be enough at a certain time.

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

Opinion Amaechi, Fashola and the allegory of the cave Bolaji Akinola

he agonizing fuel situation, vexatious Apapa gridlock, distressing slide in the value of the naira, erratic power supply and the generally bewildering living conditions of the masses combine to provoke the feeling of a rudderless state. The level of frustration is rising ever so much faster than Nigeria’s economic growth. Insinuations are rife that the progressives did not really have a plan and that all they possessed was a plan to develop a plan. Nevertheless, Nigerians look up to the new government to earnestly deliver the promised change. Much hope is hinged on the two super Ministers – Babatunde Fashola and Rotimi Amaechi. Our hope of a better maritime industry also rests on these two former Governors. While eager to make suggestions to the duo, one is at a loss as to the type of advice that would be suitable at this time. Amaechi is not ignorant of the problems facing the country. He is not a total stranger to the maritime environment either having served as Governor of Rivers State – a state that hosts the nation’s oldest seaport and the world famous Onne Port - for eight years. Ditto Fashola. The nation’s two major seaports are located in the state he ran commendably well for eight years. Fashola was a regular visitor to Apapa. His administration initiated the construction of the Lekki seaport. He had a clear understanding of the importance of the waterways. He set up the Lagos Waterways Authority (LASWA) to encourage the use of alternative mode of transportation by Lagosians. He even went as far as creating a sort of Coast Guard for Lagos. So what does a man who vastly feels compelled to give advice say to these gentlemen? Aha, the allegory of the cave! Plato’s allegory of the cave would be apt. The allegory provides an interesting perspective to life. It was written as a dialogue between two broth-

ers, Socrates and Glaucon. Socrates begins by asking Glaucon to imagine a cave where people have been imprisoned from childhood. These prisoners are chained so that their legs and necks are fixed, forcing them to gaze at the wall in front of them and not look around at the cave, each other, or themselves. Behind the prisoners is a fire, and between the fire and the prisoners is a raised walkway with a low wall, behind which people walk carrying objects or puppets "of men and other living things". The people walk behind the wall so their bodies do not cast shadows for the prisoners to see, but the objects they carry do ("just as puppet showmen have screens in front of them at which they work their puppets". The prisoners cannot see any of this behind them and are only able to see the shadows cast upon the cave wall in front of them. The sounds of the people talking echo off the shadowed wall, and the prisoners falsely believe these sounds come from the shadows. Socrates suggests that the shadows constitute reality for the prisoners because they have never seen anything else; they do not realize that what they see are shadows of objects in front of a fire, much less that these objects are inspired by real living things outside the cave. Plato then supposes that one prisoner is freed, being forced to turn and see the fire. The light would hurt his eyes and make it hard for him to see the objects that are casting the shadows. If he is told that what he saw before was not real but instead that the objects he is now struggling to see are, he would not believe it. In his pain, Plato continues, the freed prisoner would turn away and run back to what he can see and is accustomed to, that is the shadows of the carried objects. He writes "...it would hurt his eyes, and he would escape by turning away to the things which he was able to look at, and these he would believe to be clearer than what was being shown to him.” Plato continues: "suppose...that someone should drag him...by force, up the rough ascent, the steep way up, and never stop until he could drag him out into the light

of the sun." The prisoner would be angry and in pain, and this would only worsen when the radiant light of the sun overwhelms his eyes and blinds him. The sunlight is representative of the new reality and knowledge that the freed prisoner is experiencing. But slowly, his eyes adjust to the light of the sun. First he can only see shadows. Gradually he can see the reflections of people and things in water and then later see the people and things themselves. Eventually he is able to look at the stars and moon at night until finally he can look upon the sun itself. Only after he can look straight at the sun "is he able to reason about it" and what it is. Plato continues, saying that the freed prisoner’s perception would be permanently altered. He would think that the real world was superior to the world he experienced in the cave; he would bless himself for the change, and pity the other prisoners and would want to bring his fellow cave dwellers out of the cave and into the sunlight. The returning prisoner, whose eyes have become acclimated to the light of the sun, would be blind when he re-enters the cave, just as he was when he was first exposed to the sun. The prisoners, according to Socrates, would infer from the returning man's blindness that the journey out of the cave had harmed him and that they should not undertake a similar journey. Socrates concludes that the prisoners, if they were able, would therefore reach out and kill anyone who attempted to drag them out of the cave. Honourable Ministers, you’ve been out of the cave a while. You’ve seen the true light. You’ve heard the true sound and seen the real images. You’re back now to take this imprisoned generation out into sunshine; please don’t allow the people you desire to save resist you. Maritime industry confusionists are very loud and unrepentant. Please don’t let them hold you back. Drag, pull, push and force us up the rough ascent. Ignore the hues and cries. Make the change happen by all means. Please • Akinola wrote in from Lagos.

Hard times for elders in Belarus Odimegwu Onwumere

62yr old homeless Paviel Labkovich was tipped by Andrej Dalarchuk, 21, who was a student in the city of Brest,

Belarus. Dalarchuk was caught in his own act by camera. A manhunt on social media was mounted on him to identify who he was. He was later identified and expelled from the Technical University, where he was a student. A remuneration of £1,600 was slammed on Dalarchuk, to be given to the homeless elderly man, who was searching for food, before he was grabbed by the legs and tipped into the bin. The leader of “Discussion Club 24” Uladzimir Ramanovich narrated how the mother said that she had not seen her relatives in Vilnius for a long time. That was in 2010. “And there’s a whole load of such people,” said Ramanovich. Hence, the launch of the ‘club’ to contribute to making the elderly internet savvy to enable them connect with family members from their care homes. These are among the many abuses that are familiar with the elderly people in Belarus on daily basis. The alien culture of relegating the elderly people to the background that has characterised the country, has however spurred cam-

paigns amongst diplomats and NGOs to protect the elderly from maltreatment and abuse. Elderly people are not having a good time in Belarus. The inherent culture now is either they are confined to caregivers’ homes or they are abandoned in the streets to be disdained and ridiculed. The elderly are seeing hell in this country that was on 26th April 1986, ravaged by over 70 per cent radiation from the Chernobyl disaster. And investigations revealed that Belarus will suffer the contamination for at least 200 years. Many of the elderly people sustain injuries both physically and emotionally due to maltreatment in this country that officially unrecognised rates of unemployment and underemployment are skyrocketing. Although, there is no government statistics for the number of the elderly people that have been abused, but family outcry shows that the number is increasing. It's alarming when in 2014, about 23, 000 persons received fines or warning for their misdeeds against the elderly, who were their relatives. Why the elderly people are maltreated does not meet the eyes, because they are the folk that had scientific orientation, unlike the young ones that do not have interest in science. “Science is no longer prestigious; that

is the reason why young people don’t want to be scientists. Scientists have low salaries, and feminization is taking place because of that – as women are often more satisfied with low salaries than men. One of the main problems is critical shortage of modern equipment, without which development is impossible. Cooperation between science and industry is poor in Belarus; and due to that science doesn’t contribute much into industry.” Conversely, there are schools of thought that said that the elderly people are maltreated because they are less productive than the youth; while others said that they are experienced even if their physical powers may be waning. Tatyana Ivanova is a Belarusian journalist residing in the United States. In May this year, while making a public presentation, decried that longtime leader Alexander Lukashenko was going back to trenches to exhume "the Soviet-dominated past, most recently by introducing a forced-labour law." "This April, Lukashenko signed Decree No. 3, whose official name literally translates to “on the prevention of social parasitism.” This term applied in the former Soviet Union to the conduct of able-bodied citizens who refused to work where they were assigned," said Ivanova. It's evident that this idea is intended for the vulnerable in the country because the "labour-decree" will create a labourbarrier-free environment. The Deputy

Minister of Labour and Social Protection Alexander Rumak said during this year's International Day of Older Persons that "a concept of a state programme on social protection and employment promotion in 2016 – 2020 has been developed in Belarus." Although, there are exemptions in the "Labour Decree", Ivanova argued: "In accordance with the decree, every person residing in Belarus for half a year and one day has to pay a tax equivalent to $250 if he or she doesn’t work in an officially recognized capacity for those 183 days. When the president issues a decree in Belarus, it has the force of law." But President Lukashenko on December 29 2014 made a pronouncement when he visited home for the elderly, and said that the state must take care of them. Nevertheless, critics of the president have characterised his comment by political colouration. According to UNFPA official Yelena Kasko, “elderly people are more vulnerable. The factors contributing to elder abuse include sharing a home, financial dependence, mental diseases, and alcohol abuse. Women are at a great risk of elder abuse for a number of reasons (for example, they outnumber men and live longer). Disability, dementia and social isolation aggravate the dependence of the elderly on others.” • Onwumere (apoet_25@yahoo.com) wrote in from Port-Harcourt

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

EDITORIAL

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Time to overhaul our prisons

risons are facilities meant to reform individuals sentenced to a certain period of incarceration. A jail term is meant to be a period when inmates serve punishment for their crimes and also transform into better citizens. Information gleaned from the website of the Nigerian Prisons Service indicates that there are a total of 240 prisons in Nigeria, with a total installed of 50,153. The real number of prisoners, according to the information compiled as at October 31, 2014, is 57,121. While there are 17,544 convicts, they are outnumbered by 38,685 unconvicted inmates. This comprises 55,965 males (98 per cent) and 1,156 females (2 per cent). The summary of the inmate population is that the 17,544 convicted inmates are 31 per cent of the total prison population, the 39,577 unconvicted inmates make up 69 per cent. They are scattered across Maximum Security Prisons; Medium Security Prisons; Satellite Prisons; Borstal Institutions for juveniles; Farm Centres; Open Prison Camp; and Female Prison. These statistics give cause for worry as the prisoners are made up of active Nigerians who should otherwise be engaged in national development. However, Nigerian prisons are anything but reformatory penitentiaries, given the lip service paid to them

by successive administrations. Many Nigerian prisons are in need of fundamental insfrastructural overhaul but it has remained in the realm of loud pronoucements. The nation’s justice system is also skewed against suspects, with the result that ‘confessions’ are extracted through torture. In the 21st century, suspects are treated like convicts whereas the justice system is expected to protect the rights of every citizen. There have been several reports of female convicts kept in prisons with their babies, a major breach of the rights of these children. Sexual molestation, rape, sodomy and dehumanisation of inmates are issues that have been glossed over because they are not in the public glare. It is like once any Nigerian or foreigner is unfortunate to cross the prison gates, he or she is doomed to suffer. Frivolous jail terms contained in the criminal and penal codes contribute to prison congestion. It is unfortunate that state governments have paid lip service to various calls for the review of their laws to save the prisons from congestion. There are cases of security agents arraigning suspects on framed-up charges and ensuring they rot in jail for not paying bribes. Prison officials also allegedly demand bribes from inmates to take them to the hospital or the court. Prisons lack basic amenities while the harsh regimen ensures that

when prison terms end, inmates can hardly reintegrate into the normal society. It is so disheartening that anyone who finds himself or herself behind the prison walls is presumed guilty until proven innocent – unlike the standard practice worldwide where suspects are innocent until proven guilty. This ought not to be so but this and many more challenges confronting prison administration in Nigeria are issues that the current Minister of Interior, Lt-Gen. Abdulrahman Dambazzau, should look into as a matter of urgency. Modern methods of prison and justice administration need to be urgently integrated into the Nigerian system to save innocent persons from being condemned to an uncertain fate in our prisons. The reports of various prison reform committees and panels should be carefully studied, with a view to picking workable ideas from them. The conditions of service of prison personnel should be looked into because they have every right to fair workplace rights. Also, the reports on jailbreaks over the years need to be studied so that necessary corrections can be made to the infrastructure in the prisons. It should not escape mention that the prison authorities in collaboration with some government agencies and NGOs have initiated various schemes to encourage prisoners towards reformatory activities. It is

salutary to note that a number of prisoners have earned certificates while serving their terms. Also, governors and chief judges of the 36 states should be highly commended for granting amnesty to prisoners and helping in the decongestion of prisoners. However, the critical challenge is the urgent decongestion of the 240 prisons and massive turnaround of their facilities and inmates. Some of these prisons should be demolished and either upgraded or relocated. The concept of prisons in Nigeria should be thoroughly overhauled and changed. Prisons should not be regarded as centres for punitive correction but facilities where offenders are given a chance at a new life. Also, governments and security agencies should be reoriented towards respect for fundamental human rights. The Bar and the Bench should also make good use of Alternative Dispute Resolution to settle issues. Also, the necessary political will should be mustered for the thorough implementation of the new Administration of Criminal Justice Act. One sore area in the last few months has been the lingering judicial workers’ strike. The strike has grounded many cases across the federation and kept unconvicted inmates in custody longer than necessary. Government should quickly resolve the strike so that courts can reopen in affected states and cases quickly dispensed with.

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MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

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Money Line

MONDAY,

JANUARY

Stock Watch

Afromedia: Incapacitated adverse regulation by

Interview

Okonjo Iweala, a mismatch economy, says Enwegbara for Nigerian

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Front row: L-R: European Commission President, Jean-Claude Juncker; Israel's Prime Minister, Benjamin Netanyahu; former French President, Nicolas Sarkozy; Mali's President, Ibrahim Boubacar Keita; French President, Francois Hollande; Germany's Chancellor, Angela Merkel; Palestinian President, Mahmoud Abbas and Italy's Prime Minister, Matteo Renzi, at a solidarity march against terrorism in Paris...yesterday. PHOTO: ReuTeRs

TRAvEl Advisory Your guide to local and international flights 4

Feb 14: APC blows hot

lDSS' story on hacking senseless, says Lai Mohammed Temitope Ogunbanke

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port of the Department of State Services (DSS) that it planned to inflate its membership data as well as hack into the Independent

National Electoral Commission (INEC) database through the creation of party membership forms and cards to match INEC's

voters register across the country. Addressing a press conference yesterday in Lagos, CONTINUED ON PAGE 2

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Vol. 1

Insurance

Claims: Policyholder’s Leadway conflict with deepens

What's neWs

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Naira walks tight rope knocks CBN as ICAN

Business

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NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

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Making justice accessible

Jegede: Special courts for corruption cases needless

Law

Saraki

Buhari

Should the Senate discontinue legislative process on the contentious ‘Frivolous Petitions and Other Matters (Prohibitions) Bill? Lawyers say yes, no. BIODUN OYELEYE, SOLA ADEYEMO, BABATOPE OKEOWO and TUNDE OYESINA report

awyers at the weekend disagreed on whether the Senate should discontinue further legislative process on the “Frivolous Petitions and Other Matters (Prohibitions) Bill 2015, otherwise known as a bill to criminalise social media. The Bill, being sponsored by the deputy leader of the Senate, Senator Bala Ibn Na’Allah has

Foluso ogunmodede judiciary Editor

foluso.ogunmodede@ newtelegraphonline.com

Okoye

Lawyers divided over social media bill raised dust following what a section of Nigerians consider as its implications on the nation’s democratic process and the freedom of speech as guaranteed by the Constitution. The Bill which had scaled second reading on the floor of the Senate, is seeking two years imprisonment with an option of N2 million fine for any Nigerians who posts abusive statements on the social media. Accordingly, the bill says any persons who through text messages, tweets, or social media, posts any abusive statement knowing same to be false with intent to set the public against any persons or group of persons, an institution of government or such other bodies established by law, would be guilty of an offence. Upon conviction, the person according to the Bill, will be liable to two years imprisonment or a N2million fine. Besides, it seeks to make unlawful the submission of any petition or statement intended to report the conduct of any person for the purpose of an investigation, inquiry and or inquest without

The bill is self-serving; the sponsors and those deliberating on it are not doing it in the interest of Nigerians

a duly sworn-in affidavit in the High Court of a State or the Federal High Court, confirming the content to be true, correct and in accordance with the Oath’s Act. Already, the Bill is generating ripples among Nigerians as they seek the discontinuation of further legislative process on the contentious bill. To them, the proposed law was nothing but an attempt to gag the media. Last week, some social media activists stormed the National Assembly, asking it to discontinue any legislative process that would turn the controversial bill into law. Their protests came shortly after President Muhammadu Buhari dissociated himself and his administration from the media muzzle law being canvassed by the Senate. President Buhari however reiterated his administration’s commitment to the protection of free speech in keeping with the democratic tradition. The Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, who, in a statement, said President Bu-

hari would not support any attempt by the Senate to criminalise the media having swore to defend the nation’s Constitution. The statement reads: “But he is not averse to lawful regulation, so long as that is done within the ambit of the Constitution which he swore to uphold. “The president said free speech is central to democratic societies anywhere in the world. The president explained that without free speech, elected representatives won’t be able to gauge public feelings and moods about governance issues.” The president’s aide explained that President Buhari is fully aware of the public reservations about the proposed legislation, but assured that there was no cause for alarm “because the Senate is a democratic Senate. The president won’t assent to any legislation that may be inconsistent with the Constitution of Nigeria.” Also, the President of the Nigeria Union of Journalists (NUJ), Alhaji Waheed Odusile, has said that the Nigerian journalists CONTINUED ON PAGE 24

20 Law

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

otwithstanding its limitations, the Legal Aid Council of Nigeria (LACON) can beat its chest that it has lived up to its cardinal principle of making justice the fundamental rights of the poor and the vulnerable in the country in the last 39 years. The council, established pursuant to the promulgation of the Legal Aid Decree of 1976 as amended by Cap 205, 1990 Laws of the Federation which later became the Legal Aid Act Cap L9 Laws of the Federation of Nigeria 2004, will clock 40 next year. Accordingly, the Legal Aid Council of Nigeria was created by the Legal Aid Act of 1976 to give effect to the constitutional provision which in Section 46 (4) (b), mandates the nation’s legal scheme. But, in 2011, the 1976 Act was replaced by the Legal Aid Act 2011. The 2011 Legal Aid Act however expanded the scope of the previous statutory mandate of the Legal Aid Council of Nigeria (LACON). Nevertheless, hundreds of Nigerians especially the vulnerable groups like women, children, the elderly and persons with disabilities, could not access justice as legal services are still beyond their reach. Access to justice is critical and fundamental. This is not only the most basic requirement of any system of justice or the most basic human rights of any system that purports to guarantee legal rights but also the hallmark of any sane and civilised society. LACON is however caught in between as paucity of funds and manpower had nonetheless limited its scope as said by its Director-General, Mrs. Joy BobManuel. Although it has been from grass to grace, the council’s major challenge remains paucity of funds and manpower. Even though it is obvious that no nation could singlehandedly provide all it takes to access justice to the teeming poor and the vulnerable, the Legal Aid Council of Nigeria had over the years enjoyed support from donors and international partners with a view to making justice accessible to the poor and the vulnerable. The council has over the years been at the forefront of making justice accessible to all irrespective of gender. For instance, the council recently partnered the United Nations Office on Drugs and Crime (UNODC) to design a five-year national strategy for legal aid delivery if it must fulfill its desires to ensure access to legal aid for the indigent and vulnerable groups in Nigeria. It was at a workshop held in Lagos some few weeks ago where some for reaching recommendations were made on practical and achievable ways for effective legal aid delivery system in the country. The country’s representative of the United Nations Office on Drugs and Crime (UNODC), Mariam Sissoko, said the need for a national strategy on legal aid could not be over-emphasised as it would provide a roadmap for ensuring and monitoring that legal aid services were delivered to the neediest in the society. Sissoko’s view was echoed by

Mohammed

Bob-Manuel

Making justice accessible FOLUSO OGUNMODEDE examines the cardinal role of the Legal Aid Council of Nigeria (LACON) and concluded that the Council which was empowered to make justice accessible to the poor and the vulnerable groups in the country can stand the test of time the council’s Director-General, Mrs. Joy Bob-Manuel, who said rule of law would be incomplete without access to justice. This, she said she would ensure that the council which was empowered in terms of legal frame work, experience, passion, skill, personnel and structure, would continue to provide qualitative legal aid services to indigent Nigerians as required under the rules and guidelines governing the council. However, Bob-Manuel who said it was not yet a uhuru for the council, reiterated her commitment to ensuring that the Legal Aid Council of Nigeria achieves all its set goals and objectives before its 40th anniversary. Bob-Manuel is an alumnus of the Rivers State University of Science and Technology where she obtained her LL.B about 22 years ago. She became the council’s Director-General on January 2, 2011. She painted graphic picture of the situation she met while she assumed office about four years ago this way; “it was 32 years old in 2010 when I came in and I started on January 2, 2011. “What made me think a lot at that time was that lawyers were to represent indigent persons in the society and there was lopsidedness in the recruitment process. There were very few lawyers; about 80, while the non-lawyers were over 300. I wrote for recruitment of lawyers to balance the lawyers with the non-legal mem-

We have articulated a better legal aid scheme for Nigerians

bers of staff. We have about 14,000 Awaiting Trial Persons (ATPs), so what can about 80 lawyers do? 80 lawyers were obviously inadequate, hence we were given the express permission to recruit about 150 lawyers. Today we are about 270. With about 270 lawyers, BobManuel was able to move the council forward within two years in office. She said: “We have been able to partner with our stakeholders. We told them the justice committee of the House of Assembly that we will put four lawyers per state but four is still very inadequate. We now sought to partner with private legal practitioners that will help us with the pro bono concept which is one big achievement that I have achieved. “We have articulated a better legal aid scheme for Nigerians which will involve private legal practitioners partnering with us and we are being supported by J4A with a technical partner called PRAWA. They are working with us to make lawyers know the work of LACN. Also, we act as a clearing house, which means we get all the cases, as many as possible and the private lawyers come to us and take as many cases as they may wish to take, while we supervise them. That is the issue between the NBA and LACN. The NBA is saying that they have a right to take their cases and supervise them themselves while we are saying the LACN Act Sections 17 and 18 clearly states what a clearing house means and the

role of LACN. “It suffices to say that we are making progress. We have worked to the extent that so many private legal practitioners are now enrolled with us. These private lawyers who are enrolled with us throughout the federation take up cases with us, which will enhance what LACN is doing. To that extent we have articulated the mandate. We also use the NYSC and the SURE-P graduate internship programme. “Last year we had up to 70 of them working with us in various states. All these have enabled us to achieve our mandate. Very soon we are going to print out the names of all lawyers who enrolled with us and we are going to institute an award system for those who have been working all these years without pay as probono lawyers. We have very dedicated pro-bono lawyers who have worked in various states with us and we are going to make the list public. We are going to print a directory which will show those who undertake legal aid and who are passionate about pro bono. We have succeeded in making the private lawyers want to do pro-bono. On whether the council was empowered to prosecute criminal matters, Bod-Manuel said “remember that the Legal Aid Act of 1986 did not give jurisdiction of civil cases to the LACN, it was repealed in 2011 and the new Act now upgraded the LACN to take up civil matters. This however will enable LACN to prepare itself by taking matters to the Alternative Dispute Resolution (ADR) and mediation and to work on the lawyers who hitherto are experts in criminal law. She went on: “According to the 1999 Constitution, a lawyer can CONTINUED ON PAGE23

Interview | Law 21

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

Mr. Eyitayo Jegede is the Ondo State Justice Commissioner and Attorney-General. Jegede, a Senior Advocate of Nigeria, in this interview with BABATOPE OKEOWO speaks on the Kogi electoral logjam, corruption, rule of law, doctrine of necessity, conflicting courts’ decisions and sundry issues In view of various conflicting judgments from different courts, is it still correct to say that the judiciary is the last hope of the common man? Let me say it is a misconception to restrict the law and the judiciary to the common man when you see the image of the law, it is blindfolded. A female is no respecter of a person. It is not only the common man that needs the law even the uncommon; the wealthy, the highly placed, state and the officials also need the law. In fact, it is the government that needs the law more than the common man. People always strive to associate law with common man as if it is only the common man that needs the court. Events have shown and you see things in our recent polity and legal development that most of the time, the high and the mighty are those who run to court faster than the people you call the common man because the right innate in man is not limited only to the common man. It applies also to people that are high and mighty. What would you say about varied judgements arising from different courts on same issue? There are of course instances of conflicting decisions but there is a doctrine of hierarchy in courts. If there are conflicts in decision given by trial court, the Court of Appeal will resolve it. If there are conflicts in decision given by the Court of Appeal, the Supreme Court will resolve it. There will be problem if there are conflicts in the decision of the Supreme Court and the problem that will arise is that the Court of Appeal will now face with two judgments and will decide which one of the judgments to follow. I also believe the law is settled that where there are such conflicts if the facts are the s a m e then the prin-

Jegede: Special courts for corruption cases needless ciple to be applied will be the principle enunciated in the last of the cases. In other words, there are ways to resolve conflicts of decisions in court. The dilemma of judges who must in obedience to the decision of higher courts follow the doctrine of judicial precedence. The lower courts are bound by the judgments of higher courts and of course must enforce the judgment. Supreme Court also has the power to review their previous decisions where they think that decision will create injustice or will not meet with justice of a particular case before them. Conflicts are bound to occur and this is because we operate divisions in our Court of Appeal system and you can have situations where some previous judgments are not brought to the notice of justices of the Court of Appeal. Don’t forget that they are also humans and they are also guided by the decisions that are within their knowledge. If there are decisions that are not within their knowledge, they may stray a little bit away from what they have decided before not because they want to stray away but because such decisions were not brought to their attention. If it is brought to their attention, they are bound to follow it. Can we say the problem of conflicting courts’ decisions also affect lawyers as reflected in the Kogi State debacle created by the late All

Jegede

Law is not mathematics where if you add two plus two you get four. In law you are talking of interpretation of statutes

Progressives Congress governorship candidate, Prince Abubakar Audu? Law is not mathematics where if you add two plus two you get four. In law you are talking of interpretation of statutes. Even under interpretation, you have three principal ways to interpret a statute; you can either apply literary rule, the golden rule or the mischief rule. Don’t forget that lawyers are also in the business of law; they have clients. When lawyers give opinions sometimes, you have a dose of commercialism there; you have a dose of what you call interest. It depends on who is giving the opinion and where he is talking from. It depends on who has briefed him. It will not be entirely fair to say lawyers are giving opinions that are divergent. It is a place of lawyers to give opinions; it is the place of judges to give decisions. There is nothing wrong if you give opinions that are in conflict, and that is why the courts are established. What about the Kogi State electoral debacle? I believe what happened in Kogi is a little bit out of the ordinary; something that is not entirely expected. Don’t forget that in 1999, something not in the entire fact happened in respect of the Adamawa State. Don’t forget that the law does not anticipate that a person that has been nominated would again be nominated by his party to run for higher office and when that played itself out, t h e S u -

preme Court resolved it and the resolution of the Supreme Court then was that once the candidate who was there then was unavailable, the deputy in that case steps in. What happened this time is different from what happened in 1999 in that the law made provision for what will happen in the event that any of the candidates is not available before the election but after nomination. In other words, if he has been nominated and something happened before the date of the election, there is a provision for it. If the candidate or candidates went into election and after election something happened there is provision in the law. But it was not within the contemplation of the law that when election is holding and it is yet to be concluded and the candidate becomes unavailable that was not provided for entirely in the law. That does not mean that there is no provision in the law that can be used to solve the problem because this matter is in court I have to be careful I don’t give an opinion that will be sub-judice or opinion that will hurt one group or other group. This is one occasion other than say what the law is generally that I need to exercise some caution. But I am very clear in my head and heart on what the law is and I think it is very simple one. But I will not say anything other than that. When can the doctrine of necessity be applied? One is when there is absolutely no provision in the law in relation to the subject in issue and secondly there is no time given the facts that are available, then you can apply the doctrine of necessity. You also apply the doctrine of necessity where you think solution must be found in any way to the problem so that security problem will not be created. In this instance there is a sitting governor who is there and by the grace of God he will still be there until his tenure expires. There are provisions in the law that would appear to take care of one or two instances; there are also decisions of courts that have been rendered not entirely of this case but of principles which are similar, those are the areas where those who are going to give opinion can seek for help and decide what can be a legal position on the subject that is before the court. In other words, I do not entirely agree that this approach of doctrine of necessity would apply in the instance case. We must go back to the law and look at those fine provisions that our legislators have put in CONTINUED ON PAGE23

22 Law | File

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

Wahab Shittu

ccess to justice in any society is critical and fundamental. Indeed it is not only the most basic requirement of any system of justice or the most basic human rights of any system that purports to guarantee legal rights but also the hallmark of any sane and civilized society. In recent times I have had cause to reflect on not just access to justice in our country but on the quality of justice available to litigants or persons seeking any justifiable remedies in our justice delivery system. My concern is borne out of my conviction that officers in the temple of justice, the constituency to which I belong whether functioning as judicial officers or law officers including legal practitioners ought to strive not only at delivering their services in their capacity as Judges and Lawyers or any such nomenclature but ensuring always that they remain jurists. The distinction between a judge/ lawyer and a jurist is fundamental and critical in the search for not only access to justice but access to quality justice; the end result of any result oriented and civilized society. But first of all, we must be clear about what we mean by the concept of ‘Access to Justice’ in the context of our own environment. Access to justice will not mean just access to lawyers and courts. It is much more broader than this as it encompasses a recognition that everyone is entitled to the protection of the law and that whatever rights we seek to protect are meaningless unless those rights can be enforced with minimal constraints to the aggrieved persons and under circumstances ensuring that all manner of people are treated fairly according to the law and are able to get appropriate redress in circumstances when they are treated unfairly. It is in this context that one would say that there is no access to justice where citizens especially the marginalized groups not only conceive the system as frightening, or alien or in circumstances where citizens have no lawyers either because of inadequate resources to access them, or where individuals lack access to information or knowledge of their rights or where the system is fundamentally weak in delivering justice to the citizens. Consequently, access to justice entails normative legal protection, legal awareness, legal aid and counsel, adjudication, enforcement and civil society oversight amongst others. Fundamental rights, civil liberties and supremacy of the rule of law prescribing vital checks and balances in any society are realistic ideals but would in themselves be

Shittu

Access to justice in Nigeria: The challenges meaningless without access to justice or the practical means of understanding and enforcing the laws of the land without strings. There is however the argument that the major challenge in Nigeria today is not just access to justice but what learned Senior Advocate of Nigeria and Queens Counsel, Professor Fidelis Oditah described in another forum as ‘exit from justice’. I cannot agree more with this cerebral scholar given the constraints and obstacles confronting the justice delivery system in our country today. These include long delays in the adjudicatory process, long adjournments of proceedings, over reliance on technicalities, collapsing infrastructure, corruption in the system, congestion in courts and prisons, poverty of

knowledge, culture of impunity and declining confidence of the citizenry in the efficacy and efficiency of the administration of justice. The foregoing raises grave concern for all stakeholders in the administration of justice imposing grave responsibilities on all to do something before the system collapses on our heads leading to anarchy and lawlessness. What therefore needs to be done? I propose the following: a) The system should guarantee equal access to justice and ensure that the quality of justice satisfies the aspirations of our people in the context of civilized norms and practices including international standards and models. b) We need to address barriers to

both quantity and quality of justice. c) We need to strengthen the capacity of our justice delivery system including address issues of welfare packages and conditions in which justice is delivered in our country. d) We need to enhance physical access to justice including guaranteeing the luxury of justice to citizens through provision of legal aid to the citizens. e) We need to fund the justice delivery system by ensuring the independence and autonomy of the judiciary. f) We need to strengthen and promote legal awareness to the citizens. g) We need to strengthen civil society organization as the foundation of promoting access to justice. h) We need to recognize that increase access to justice depends on public confidence which should not be allowed to wane or else anarchy looms. i) We need to support the enforcement of remedies and ensure that such remedies are adequate and commensurate with the nature of the offence. j) We need to encourage procedural fairness and equal application of the law to all manner of people without discrimination including facilitating transparency in all judicial processes. k) We need to increase the knowledge and professionalization of justice personnel to dispense justice. These and more need to be done very quickly to guarantee access to justice and forestall exit from justice: where necessary, reforms must be undertaken. There is no excuse whatsoever why any litigant cannot be assured of justice within six months. There is also no reason why trials in some cases cannot take place from day to day. Punitive actions should be visited on all categories of professionals who by acts or omission are engaged in the subversion of justice in our land. Today, public confidence in the justice delivery system is waning. Trust is in gross deficit. Indiscipline is everywhere, corruption now rules our land. Integrity is a scarce commodity; truth is becoming a major casualty in all of these. We need to do something to arrest this decay and the culture of impunity that seems to have been promoted in our country as an article of faith. The time to do that is now and every stakeholder in the administration of justice must come on board. It is either you ship in or you ship out. Our country is bigger than any other interests.

Man sentenced to life imprisonment for possessing marijuana Akeem Nafiu

32-year old man, Lawrence Aluagu, will spend the remaining days of his life behind bars following his involvement in marijuana. Aluagu was found guilty at the weekend by Justice Rita OfiliAjumogobia of a Federal High Court in Lagos over the illegal substance. Consequently, he was sentenced to life imprisonment.

Aluagu was arraigned before the court on March 8 by the National Drug Law Enforcement Agency (NDLEA) for being in possession of 200g of marijuana. He pleaded guilty to the charge. Upon his arraignment, Justice Ofili-Ajumogobia ordered his remand in prison, while she adjourned the matter for a review of facts and sentencing. In a judgement, Justice Ofili-Ajumogobia, found Aluagu guilty and convicted as charged.

She said: “The accused person is found guilty of the offence as charged and is accordingly convicted. He is hereby sentenced to life imprisonment. The drug exhibits are to be destroyed by the NDLEA”. NDLEA lawyer, Jeremiah Aernan, while reviewing the case, told the court that the convict committed the offence on February 12. According to him, the accused was arrested under the bridge at Ojota, where he was selling the

illegal substance. Aernan revealed that about 220g of the substance was recovered from the convict. In a count charge, marked FHC/L/108/15, Aernan, it was alleged that “Aluagwu Lawrence, 32, on the 12th of February, 2015 under the bridge at Ojota Lagos without lawful authority dealt in 220gramme of Cannabis Sativa, a narcotic similar to cocaine, Heroin LSD etc. The offence was said to have contravened the pro-

visions of Section 11(c) of the NDLEA Act, Cap N30 Laws of the Federation, 2004. In his allocutus (plea for mercy), the convict urged the court to temper justice with mercy. He told the court that he was duped by an unknown soldier, after he paid him some money to help pursue his recruitment into the Nigerian Army. The convict also told the court that he was a first time offender, adding

that life had been difficult for him since the death of his parents.

Auta

Interview | Law 23

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

‘Special courts for corruption cases needless’

Federal Government saga? I mean, would you see it as witch hunt as being insinuated in some circles? People are left to make their individual conclusion. Again, it is a matter in court; I am not Dakusi’s lawyer. I am the Attorney-General of Ondo State. I do not have the facts they have but I do believe that the law must apply to every person and the law must never be selective. If the law is selective, it is part of the corruption we are talking about.

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

place in respect of nomination, joint candidature, non-availability of one, in respect of qualification of a candidate where one of the candidates is not there, in respect of party itself and the power of the party, the power of INEC, periods where election should be concluded or completed and in respect of what is election itself. For instance, when is an election concluded? Is it when you start registration until final return? Or when each and every member of the electorate has finished casting his vote and you now know what is the score in each of the polling units so that what is left is simple arithmetic calculation? In my view, these are the issues that will be looked at before you can arrive at a conclusion and I want to refrain from going into conclusion. How do you think corruption should be tackled? Some say there should be special court to handle corruption cases while others differ. What is your take on this? Corruption is our biggest bane in our polity, in our country and in our daily business. Corruption is so pervasive that is not restricted to the high or the low. It is not restricted to those who are in government. You have corruption in entire phase of our nation. Corruption is not only in respect of giving money; corruption is far more than that. Giving money to influence decisions, raising issue of religion to influence decisions, raising issues of ethnicity to influence decisions; these are corrupt influences. Corruption is related to issue of giving money, yes it is there. The point I am making is that if you want to tackle corruption, you start from the head to the foot. All must be attacked simultaneously.

Jegede

What about having special court to try corruption cases? I have a problem there; my problem is that if you are going to create a special court; are you not bringing the same personnel who are in the old courts into the so-called special courts? In order words, what we are having is the same old wine in different bottle. It is just the label that is different. Court will always remain court, what you are doing is not to remove the personnel but removing the personnel from court A to court B. Tell me what is the idea? If you talk of the need to fast tract proceedings, you can fast track proceedings by creating more courts

because there are so many ingredients that will make a country to run. Those indices include a corrupt free society, a society that complies with the law, a society where the government must obey the law, a society where the governed must also obey the law. The summary of this is that we are all subject to law. And corruption is part of the defiance, the defiance in not complying with the law. If we have a society where both the government and the governed comply with what the law says, there will be no corruption. How are you looking at the scenario playing out in the Sambo Danzuki,

In your opinion, what is now the best way to fight corruption? If you want to fight corruption, you must not create a system that will make people turn that instrument into a vindictive instrument and then take away fundamental rights of citizens. Don’t forget that those who are suspected to have committed offences are still presumed innocent under the law. You must go through the whole hog of investigation, prosecution and ensure he has fair hearing and be able to call his own witnesses and be able to stand his trial and in a way to be able to confront those who accused him. What I have discovered in most cases is that the simplest thing is to make accusation against a person. It becomes more difficult if you have to prove the allegation. In this country, government officials have been accused of stealing billions of Naira. Some are even accused of stealing trillions of Naira. Some of those accused of stealing trillions of Naira have only budget of N200million. Nobody relates the amounts that have been stolen with the amount the officials have in their custody. You just believe it because there is tendency to believe in the negative. I am not saying there is no corruption, it is pervasive, but I am saying some people have used this colour of corruption to pull down those they want to destroy.

C O N T I N U E D F R O M PA G E 2 0

be both solicitor and advocate but we tended towards specializing in the criminal aspect but we can now say boldly that our lawyers are now good at both the civil and the criminal cases. “We are recording very high number of civil cases. Civil is good in the sense that you dispense with going to court and most cases are resolved by mediation. We are succeeding well and most people have seen the wisdom in trying to mediate in matters and resolving amicably without the police. It also helps the citizens to understand the difference between which cases should go to the police and what cases should not. We have a full department of civil litigation and a lot of lawyers now take it from their own states. “We have a partner in the World Bank in the Scheme Access to Justice for the Poor in Kaduna. That project is from a Japanese Development Bank grant which specify that the grant should be used for the poor and for only civil matters. In the last three years, LACN has gained a lot from that project because foreign expertise has been brought into the project to help to train our staff in best practice for resolving civil matters amicably. That has helped us train 270 lawyers and a lot of lawyers in special mediation so that they can train

Making justice accessible staff in their office. She however applauded her team and their contributions to making the council what it has achieved today, saying ‘we are now visible’. “We now have more visibility; more donor agencies have taken up interest in us. Justice sector is never in limelight. People ask why we

represent suspected criminals but I tell them that without a defence lawyer, a judgment would never be given in a criminal case either for conviction or otherwise. So, if a government has been magnanimous to give its citizens free legal aid, it is for the citizens to take advantage, but we have recorded

more interest in what we are doing. On some of the challenges she encountered, Bob-Manuel said “I don’t want to sound like a broken record. We will be 40 next year and we have been given money to have our permanent site. Before now, our judges were respected, do you think they are still been respected? Yes, when you enter the court you find the aura of respect. When you come before a judge or magistrate you must bow. It is inherent in that office.

24 Law

Kalu C O N T I N U E D F R O M PA G E 1 9

would resist any attempt to gag the media in whatever form. However, lawyers who yesterday joined the fray were pitted against each other on whether the Senate should discontinue further legislative process on the ‘obnoxious’ bill initiated by the Senate deputy leader, Senator Na’Allah. Three Senior Advocates of Nigeria, Mr John Bayeshea, Chief Awa Kalu, Mr Dayo Akinlaja, an activist lawyer, Mr Festus Okoye, a law teacher, Ibrahim Akanbi, the erstwhile chairman of the Ilorin branch of the Nigerian Bar Association, Oyo NBA chairman, Adekunle Babalola, Mr. Rafiu Balogun, Olalekan Ojo, Idowu Peter and the executive director of a rights group, the Socio-Economic Rights and Accountability Project (SERAP), Mr Mumuni Adetokunbo expressed divergent views on the controversial Bill. For instance, Bayeshea described the Bill-“Frivolous Petitions and Other Matters (Prohibitions) Bill 2015 as self-serving. To him, the Bill was not only selfserving but illegal and unconstitutional; hence it must be discarded with as it was not in the nation’s interest. Bayeshea said: “The bill is selfserving; the sponsors and those deliberating on it are not doing it in the interest of Nigerians whom they claim to represent. It is just to protect their dirty deals because some of them have been in the eye of the storm because of the way the social media have reported some of the things they have done. “If they have no skeleton in their cupboards there is no need to do what they are doing now. The social media are more effective in tracking and following up on the dirty deals. It will be unconstitutional, illegal and will be challenged and at the end of the day it will be thrown away. If you want to serve you must be ready for public scrutiny. The Yoruba says that if a witch cries out today and tomorrow a child dies in the neighbourhood; there will be thoughts of connecting the two incidents. You know there have been some ‘revelations’ about some of the leadership and other members of the Senate and for that they want to castrate the media? If you have nothing to hide, then come out openly and defend yourself. There are provisions

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

Adetokunbo

Akinlaja

Anger over media muzzle law for redress under defamation. The bill is condemnable and there will be no support for it whatsoever. Kalu called for the need to regulate the social media if its activities were found to be inimical to nationbuilding. He however counseled opposition to the Bill to allow the Bill to mature, scale the second reading before tempers would flay on its legitimacy. Kalu said: “Who won’t like it if there are fine posts there but if it becomes dangerous; when there are conversations inimical to public peace or inimical to reputation that has been built over the years or that are likely to influence passion. “Let us wait for the second reading, that is, the level where you separate the wheat from the tares. Reaction at the moment is a little hazy. Personally, I have not seen the content of the bill, if it is possible to disseminate the content of the bill, then we will know what is right and what is wrong. As it stands, it appears that people are commenting vague about the Bill without knowing the content. “If we see what is there, then we will determine what is unconstitutional and what is not”. Kalu was echoed by a former chairman of the Ilorin branch of the NBA, Balogun who enphasised the constitutional responsibility of the National Assembly to make laws among others for the peace and order of the country especially on any matter contained in the Exclusive Legislative List. Notwithstanding the lawmakers constitutional role in nation building, Balogun said it would amount to an exercise in futility should the Senate consider the controversial Bill at the expense of the existing laws on defamation. He however counseled that the Senate would do well if only it reviews “the existing laws; tinker with the laws by proffering necessary amendments to take care of the challenges of the new social media and likely difficulties in prosecution of offenders rather than embarking on a futile voyage over new laws to tackle abuse on social media. Balogun said: “We must make it clear from the onset that it is within the legislative competence of the Na-

tional Assembly to legislate on all manner of issues for peace, order and good governance in any matter contained in the Exclusive Legislative List. “This is contained in Section 4 of the Constitution. However, it could amount to waste of precious legislative duties because our existing laws on defamation adequately take care of the new law. If anybody feels aggrieved or that he has been maligned by any post on Facebook or Twitter or that the post is untrue, he has the right to institute a civil matter for defamation of character and claim damages under the law of libel. And if he feels strongly that the person can be prosecuted he can report to the appropriate agencies to initiate criminal case against him. What I think the National Assembly can do is to review the existing laws; tinker with the laws by proffering necessary amendments to take care of the challenges of the new social media and likely difficulties in prosecution of offenders. I don’t think we need new law to criminalise defamation in social media”. Akinlaja described the Bill as unnecessary and draconian. This, Akinlaja said would nail the war against corruption should the Bill be allowed to see the light of the day as people would be afraid to expose corrupt government officials. Accordingly, Akinlaja said the Bill was illegal and contrary to the provision of the 1999 Constitution which guarantees freedom of expression. Speaking in an interview, Akinlaja said people write petitions that could be termed as frivolous because of the method through they got their information saying some of the information was through the grapevine. He said some people are smart enough to destroy the evidence in the petitions making the petition frivolous under the law. He said people should resist the passage of the bill as that would mark the end of the war against corruption. According to him, since there were enough laws to punish anyone with frivolous petitions against fellow citizen, proposing new laws in that respect was unnecessary. Ojo said: “To me, such a bill even

if eventually passed into law is not possible under any democratic dispensation. Any law enacted by the National Assembly that is inconsistent with the Constitutional provisions operating in the country would be shut down. The fact that such a move would not enjoy public acceptability informed President Muhammadu Buhari’s position that he will not be part of anything that is inconsistent with the law. “Every Nigerian has got the right to distribute and receive information. But such a bill if eventually passed into law, once it is inconsistent with democratic principles and the law, many Nigerians will take action against it and it will fail. Any law that is not democratic and not justifiable cannot have a space within the Constitution. “The mere fact that the National Assembly passes or enacts a law does not confer the status of inviolability or impunity on it. It must pass the test of justiciability. The National Assembly cannot impose any law on Nigerians. It is the court that can pronounce a law, and it is the court that has the touchstone of the legality of their action. “Constitutional provisions will override whatever action taken that is inconsistent with the law. The National Assembly cannot gag the press in a democratic dispensation. In essence therefore, to me, there is nothing to fear about”. To Babalola, “there could be some excesses on the part of some journalists actually, but that should not call for a blanket ban on the dissemination of information. If such a bill is being considered now, what then is the significance of the Freedom of Information Act enacted by the past administration? Without the media, who disseminates information? The way the bill is being construed, is as if the National Assembly is trying to bring back Decree 4 of the military era into the democratic dispensation, and they are trying to nullify the FOI bill. If eventually it is passed into law, I am sure that Nigerians will vehemently oppose and reject it if it is inconsistent with the law”. Peter simply described the Senate as petty and naïve as the bill will not see the light of the day.

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

US rate hike to increase naira pressure –Analysts

Stock Watch

CWG: Earnings shrink on foreign exchange woes

Insurance

CPS: Edo moves closer to implementation

Nigeria should sign EPA treaty to develop trade, infrastructure –Madu

34-35

Money Line

Interview

Business What's news

Five IT techs to boost Nigerian economy in 2016 –Report A new report by the Nigeria Internet Registration Association (NIRA) has predicted that five technology trends would be strategic to the Nigerian economy in 2016.

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Lagos Port takes delivery of N9.62bn palm oil The Lagos Port Complex has taken delivery of 68,500 metric tons of crude palm oil valued at N9.62 billion ($38,497,000) in the last two months.

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L-R: Chief Audit Executive, UBA/First Vice Chairman, Association of Audit Executives of Banks in Nigeria (AAEBN), Mr. Udochi Nwaodu; Chief Audit Executive, Zenith Bank Plc, Mr. Sunday Ilegar; Executive Director, Zenith Bank, Sola Oladipo; Chief Audit Executive, Skye Bank/Chairman Association of Audit Executives of Banks in Nigeria (AAEBN), Mr. Bola Dawoodu and Chief Audit Executive, Sterling Bank/Second Vice Chairman, AAEBN, Mr. Biodun Aderoju, at the 32nd meeting of the association hosted by Zenith Bank in Lagos . PHOTO: SULEIMAN HUSAINI.

Nigeria’s N20bn investment in chemical slumps PRIVATISATION

The Business Desk Ayodele Aminu

Groups advocate speedy sales of refineries

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

Adeola Yusuf

he N20 billion ($100 million) annual investments in Nigeria’s oil and gas process chemical industry has faced recession. The Nigerian Society of Chemical Engineers (NSChE), which confirmed this, maintained that the depression in the process chemical industry was caused by the grounding

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

into a halt of the four refineries in Nigeria. The refineries sited in Port Harcourt, Warri and Kaduna, which have been inefficient in recent times, were grounded in September, according to data from the Nigerian National Petroleum Corporation (NNPC). Former President of the NSChE, Dr. John Erinne, disclosed on the sideline of the first Nigerian Oilfield Chemicals seminar organised by National Petroleum Investment Management Services (NAPIMS) and Nichem Ventures Limited in Lagos, that government should save revenue loss from refineries by speeding up their privatisation. Erinne, who gave an over-

view of the oil and gas treatment chemical in Nigeria, disclosed that a surge of estimated investments worth $7 million to $10 million per annum could be secured if the refineries are in good shape. He noted: “The investments can double if the refineries work. The nature of the four refineries has effect on production chemicals. “If I have my way as a patriotic Nigerian, the refineries

$10 million

Being the investments that could be secured if refineries are in good shape

would have long been privatised. Experience has shown that government is a horrible businessman.” He stressed that the production chemicals were not majorly affected by the oil price rout rocking the global oil and gas industry. According to Erinle, “many chemical engineers are employers of labour and I am sure that many chemical engineers are employed in the industry. So, it is in the best interest of all of us that the oil price stabilises.” Also, the Chairman of Nichem Ventures Limited, David Adewunmi Adeyemo, an engineer, said that the oil price CONTINUED ON PAGE 26

Rates Dashboard INFLATION RATE October 2015.............................9.3% September 2015.....................9.4% August 2015 ...........................9.3%

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

EXCHANGE RATE (BDC as at Nov 26)

USD . . . . . . . . . . . . . . . . . . . . . . N249 Pounds . . . . . . . . . . . . . . . . . . . N355 Euro . . . . . . . . . . . . . . . . . . . . . . N255

l Foreign Reserves – $29.597bn as at 7/12/2015

Source: CBN

EXCHANGE RATE (Interbank as at Nov 26)

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

Business |News

IMPACT The trends are expected to impact the country’s economic growth Kunle Azeez

new report by the Nigeria Internet Registration Association (NIRA) has predicted that five technology trends would be strategic to the Nigerian economy in 2016. In a report obtained by New Telegraph, NIRA said that the strategic technology trends would include computing everywhere, explosion of the Internet of Things (IoT), cloud/client architecture, web-scale IT and the adoption of .ng, which is Nigeria’s identity online. The report entitled: “Predicting technology trends in Nigeria for 2016,” noted that the technology trends were those that had the potentials to change lives in Nigeria. It added that it would have significant impact on individuals, small and medium enterprises (SMEs) and corporate organisations within the next three years in the country. According to the report, “these technologies have the potential to impact the lives of our youths as well as the economic growth of our country, how we conduct business and the risk of being late to adopt. The President of NIRA, Mr. Sunday Afo-

Five IT techs to boost Nigerian economy in 2016 –Report layan, noted in the report, that as Internet bandwidth becomes readily available and affordable, more Nigerians would take the advantage of taking their businesses online, knowing that their target market was just a click away, having realised that the .ng identity would project their businesses. He said: “More businesses will be conducted and concluded online without either of the parties knowing or meeting.

had continued to crash, noting that the talk of the industry was now whether there would be an industry or not. Adeyemo added: “For us, we hold the optimistic position that the equilibrium will be found and oil production will continue in Nigeria. “NAPIMS, which is the ultimate manager of Nigeria’s oil and gas asset and Nichem Ventures, the commercial arm of the NSChE, have put this together to fashion a way out for our industry.” Deputy President of NSChE, Professor Sunday Sam Adefila, President, Petroleum Technician Association of Nigeria (PETAN), Emeka Ene, a representative of the Nigeria Content Development and Monitoring Board (NCDMB), O. Paul, said

As technology advances, Internet security is enhanced to safeguard online businesses and transactions and there are safeguards to provide relevant protection to all and sundry, we will see an upsurge in online businesses. “The tech trends observable in Nigeria will be affected by the global Strategic Technology trends. They will shape digital businesses in our country. “We are practically

and virtually online, either searching or researching for information, gathering data or utilising any of the social media platforms such as Facebook, Twitter, Google, YouTube, LinkedIn, Flickr and Skype, among others. “With over 52 social media platforms, most are available and free to use. Many people in Nigeria use these platforms to advertise their products and businesses.” In terms of comput-

ing, the report stressed that smart phones were not only used for phone calls, text messages, but were used for banking transactions and connectivity. It explained that the uses of smartphones were limited by the knowledge and experience of the user. The NIRA report, however, revealed that the capacities of thesmartphones were unbelievable. According to NIRA,

“as smart-phone technology advances, it is used and will be used in new contexts and environments. Smart-phones will offer connected screens in the workplace and in public. The Internet of Things is big and it will continue to grow along with user-oriented computing. “This is the network of physical objects or things embedded with electronics, software, sensors and CONTINUED ON PAGE 28

L-R: Manager, Corporate Affairs, Nipco Plc, Lawal Taofeek, presenting a gas cylinder to one of the beneficiaries of LPG accessories donated by Nipco to women in Apapa, Mrs Ramoni Adeola, while Hon. Kabiru Dosunmu watches with admiration, at the event in Lagos.

Nigeria’s N20bn annual investment in chemical slumps CONTINUED FROM PAGE 25

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

that the crude oil price rout would continue to wreck economies of oil producing nations if measures are not put in place to cushion the effects. Paul noted: “The dwindling price of crude oil has made more companies to be tempted to circumvent the law in a bid to weather the storm. “Local content is a game changer and we will do everything possible within the law to discharge our constitutional responsibilities.” Ene added that the industry should be sincere in providing solutions to the problem confronting the industry. “We need to ask critical questions about the oil prices, which have continued to go South in recent times. It is only when this is done that real answer on how to overcome this will be found,” he said.

DEMAND

Global price of palm oil rise to $562 per metric ton Bayo Akomolafe

he Lagos Port Complex has taken delivery of 68,500 metric tons of crude palm oil valued at N9.62 billion ($38,497,000) in the last two months. The commodity was ferried to the port’s terminals by five merchant vessels. Global price of the commodity is $562 per metric ton. The country began importation of palm in 1975, when it first imported 1,000 tons. Data obtained from the Nigerian Ports Authority (NPA)’s shipping position revealed that MV New Down and MVGreen Planet had been moored at the Apapa Bulk terminal Limited (ABTL) to discharge 12,000 metric tons and 28,000 metric tons respectively, while MV Oak is jostling for a space at ENL terminal to offload 5,000 metric tons of the commodity. MV Lady Sina and MV Marlin Amethyst that berthed at ABTL

Lagos Port takes delivery of N9.62bn palm oil came in October with 5,000 metric tons and 18,000 metric tons respectively. Nigeria, the largest producer of oil palm in the world, with a market share of 43 per cent in N1950/60s, has plummeted to zero per cent since 1975. In April this year, the port took delivery of 23,200 metric tons of the commodity from two vessels. MV Champion Spirit discharged 5,000 metric tons and MV Alo Sira offloaded 18,200 tons in the same terminal. The country’s annual consumption of the commodity is 1.5 million metric tons. In the last five year, the country had imported 2,370,000 metric tons of palm oil valued at N313.97 billion ($1,569, 888,000). In 2014, Nigeria produced a paltry 930,000 metric tons while it imported 525,000 metric tons to augment the local production. In 2013, the country took delivery of 500,000 metric tons; 2012, 470,000 metric tons; 2011,

440,000 metric tons and 2010, 435,000 metric tons were ferried through the port. Meanwhile, Malaysia and Indonesia have re-introduced an export tax on crude palm oil as demand surge. Annual palm oil export from Malaysia, Indonesia and Thailand is valued at $50 billion in the global market. According to Agronomy, Malaysia had reintroduced an export tax on crude palm oil at a rate of 4.5 per cent as export increased by 17 per cent while Indonesia’s export climbed to 21 per cent. Meanwhile, 30 ships are expected to berth at the port this month with various consignments. According to the Nigerian Ports Authority’s shipping position, 14 of the ships would come with containerized goods, while six others would arrive with general cargoes such as frozen fish, bulk salt, bulk wheat and bulk sugar.

Business | Money Line

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

US rate hike to increase naira pressure –Analysts According to the analysts, “The US Fed tightening (will) increase currency pressure (and) and the CBN may succumb with a downward adjustment of the naira.” They further stated that, “Depending on when currency adjustment takes place the bail out and the stimulus package will put pressure on absorptive capacity of Nigeria (and) national debt will be integrated with Asset Management Corporation of Nigeria (AMCON) notes at CBN.” Significantly, the analysts estimate that a 10 per cent adjustment of the local currency to N220 should reduce forex demand by at least 25per

the dollar on the parallel market in recent days. As at last Friday, the naira had depreciated to 260 per dollar which is 24 per cent weaker than the official rate of N198.52 per dollar on the interbank market. In their December presentation at the Lagos Business School (LBS) obtained by the New Telegraph at the weekend, the FDC analysts analysed the 2016 budget proposal announced by the Federal Government last week and predicted that monetary policy would be more accommodative next year but that the expected US rate hike as well as the continuing slump in oil prices could compel the Central Bank of Nigeria (CBN) to depreciate the naira.

Forecast 10 per cent adjustment of the local currency likely

Tony Chukwunyem

gainst the backdrop of mounting speculation that the United States Federal Reserve could increase interest rates in the coming weeks, analysts at Financial Derivatives Company Limited (FDC) have predicted that such a hike will put more pressure on the naira which has been on a free-fall against

cent; reduce pressure on external reserves and increase revenue by 10 per cent. Indeed, according to them, the adjustment towards a Real Effective Exchange Rate (REER) is expected to begin in the first quarter. It will be recalled that Deputy Governor, Operations Directorate, CBN, Alhaji Suleiman Barau, had warned in September that the US rate hike would adversely affect the Nigerian economy. The rate hike, according to him, would have at least three implications on the Nigerian economy: “First capital outflow would accelerate. Second, dollar would

UBA Chad, Senegal win ‘Bank of the Year’ awards

he Banker Magazine has named UBA Chad and Senegal as “Bank of the Year” in their respective countries for 2015. Both awards were presented recently at the Hilton Bankside, London. While UBA Chad is winning the award for the first time, this is the fourth consecutive year that UBA Senegal is winning the award having won in 2012, 2013, 2014. Managing Director/ CEO, UBA Senegal, Amie Sow, said, “We are proud of winning this award

get us results. We assure that we will sustain this performance to enable us retain the award in 2016.” The aim of the awards, according to the Banker Magazine “is to highlight industry wide excellence within the global banking community.” The Banker selects one winning bank from each of the 120 participating countries. Over 1,000 applications are collected and Judges select winning banks based on those they believe have made the most progress over the past 12 months.

for the fourth consecutive year. It shows we are now the dominant bank in Senegal and the bank all other banks have to look forward to beat. The recognition will only continue to challenge us to explore opportunities to further deepen our market share in the country.” Also speaking on the recognition, Managing Director and CEO, UBA Chad, Salami Aliyu, said “This award shows that the efficiency and business growth drivers which we put in place are beginning to pay-off and

Associate Publisher Asia and Africa of The Banker magazine, Mr. Philip Church stressed that the award is a testimony to the trust the bank’s clients have shown on its operations over the past months. “The recognition of being named as Bank of the Year in your own country by the world’s longest running international banking title is testament to the strong management, sound business model and prudent risk approach of your bank.” Said Phillip Church

Economic Indicators As at M2* CPS* INF

N19,142,526.05m N18,579,219.49m 9.3

Mar, 2015 Mar, 2015 Oct, 2015

MPR 91-day NTB Bonny Light Ext Res**

11 10.77 US$39.03 US$29,597,277,838

24/11/2015 Mar 2015 11/12/2015 7/12/2015

Source:CBN

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 10.00 23-JUL-2030 12.1493 18-JUL-2034

FGN Bonds

TTM

Price 110.19 118.26 115.25 123.11 117.15 91.93 107.20

1.38 3.55 4.18 6.13 8.26 14.62 18.60

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 0.9383 9.8550 11.3384 13.0777

Bid Yield 7.19 9.78 10.89 11.09 10.98 11.13 11.22

Change (%) 0.06 ▲ -0.06 ▼ -0.04 ▼ 0.30 ▲

Change (%) -0.01 ▼ -0.14 ▼ 0.09 ▲ -0.03 ▼ -0.01 ▼ 0.03 ▲ 0.04 ▲

Price 111.19 119.26 116.25 124.11 118.15 92.93 108.20

Tenor (Months)

Offer Yield 6.48 9.48 10.61 10.89 10.81 10.98 11.10

Change (%) -0.02 ▼ -0.14 ▼ 0.08 ▲ -0.03 ▼ -0.01 ▼ 0.02 ▲ 0.04 ▲

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 1.7955 1.8012 3.0703 6.1593 7.1590 7.7908

Change (%) -0.85 ▼ -1.12 ▼ -0.77 ▼ -0.76 ▼ -0.30 ▼ -0.33 ▼

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 1.20 1.20 -0.49 ▼ Open-Buy-Back (OBB) 0.71 03-Mar-16 1.70 1.71 -0.49 ▼ 4.50 4.60 -0.41 ▼ Overnight (O/N) 1.00 02-Jun-16 5.00 5.12 -0.42 ▼ 01-Dec-16 6.42 5.92 6.29 0.00 ↔ 6.85 0.00 ↔

Spot($/N)

Bid 198.47

Offer 198.57

Change (%) 0.28 ▲

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of November 20, 2015 Spot($/N)

195.97

196.97

0.00 ↔

Offer 199.1000

Change (%) 0.13 ▲ 0.00 ↔

Change (%) 0.00 ↔

strengthen against most currencies with implication of higher inflation through exchange rate pass through. Thirdly, banking system stabil-

ity may be threatened as dollarization may increase with implication of reduction in naira denominated deposit liability.”

CBN to raise N1.2trn treasury bills in Q1 2016

he Central Bank of Nigeria (CBN) has said it plans to raise N1.22 trillion ($6.13 billion) from treasury bills in the first quarter of 2016. According to a treasury bill issuing programme posted on its website, the apex bank said it would auction N245.77 billion n worth of 91-day bills and N238.51 billion n worth of 182-day paper between December 17 this year and March 3, 2016. It will raise N735.54 bil-

lion worth of 364-day treasury bills in the same first quarter of next year. The CBN issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity and fund government revenue shortfalls. Yields on local denominated debt have plummeted since the central bank slashed its benchmark interest rate to 11 per cent from 13 per cent last month.

Interbank rate stays flat at 1%

vernight lending rate held steady at 1 per cent for the fourth consecutive week last Friday, as the money market remained sufficiently liquid, traders said. Reuters quoted a dealer as saying that, "The market has been trading flat because of huge liquidity in the banking system without any major cash outflow from the market.” The Central Bank of Nigeria (CBN) last month slashed its benchmark interest rate-the Monetary Policy Rate(MPR)- to 11 per cent from 13 per cent to stimulate growth through lending to pro-

ducers, but many banks are not lending due to an increased risk of default by borrowers. Dealers said that although about N50 billion was debited from commercial lenders' accounts by the CBN last Friday for bond purchases, the market opened at about N708 billion, leaving plenty of liquidity. The secured Open BuyBack (OBB) - the rate at which lenders can borrow from the interbank market using treasury bills as collateral - remained flat at 0.5 per cent, far below the central bank's benchmark rate.

GTBank rewards customers with Mini Cooper Car

assan Jamiu Olawale from Kwara State University has emerged the winner of a Mini Cooper Car in the 3rd edition of Guaranty Trust Bank plc’s promo tagged, the GTCrea8 Mini Cooper giveaway. The promo, which was launched in 2013 provides a platform for the bank to reward one lucky GTCrea8 customer with a brand new Mini Cooper car. The raffle draw for the Mini Cooper giveaway held on Wednesday, December 9, 2015, at the GTBank Head office in Lagos. The lender said in a statement that since the launch of the campaign, two lucky GTCrea8 customers have been rewarded with brand new mini cooper cars. In 2013, Shalom Wigwe Elisha – a second year student of medicine at the University of Lagos became the first recipient of the car. Maryam Adebiyi –a stu-

dent of Lagos State Polytechnic was the next to win the car in 2014. In addition to the car giveaway, 90 undergraduates have been rewarded with scholarships worth 150,000 each over the last three years. The bank has also awarded monthly scholarships totaling N900,000 to six lucky students since the beginning of the year. Commenting on the event, CEO/Managing Director of GTBank, Segun Agbaje, said: “The younger generation hold the key to our economic future and as such must develop a habit of planning ahead, saving, and investing wisely. The GTCrea8 platform is structured to assist students with their daily and future financial plans by enabling them develop valuable financial literacy and money management skills, which subsequently prepares them for greater responsibilities in the years ahead.”

Business | Movers, Shakers and Appointments

WAEC gets new Head of National Office T

Adenipekun

he West African Examination Council (WAEC) has appointed Mr. Isaac Adenipekun as its new Head of National Office. According to a statement by WAEC’s spokesperson, Demianus Ojijeogu, in Lagos, Adenipekun’s appointment was as a sequel to the retirement of the immediate past Head of National Office, Charles Eguridu, who disengaged from the service of the council last week Tuesday. He said: “Adenipekun hails from Osun State and graduated from the then University of Ife, now Obafemi Awolowo University, Ile-Ife, in 1983, with a Bachelor of Science degree in Political Science and also obtained a Master of Science degree in International Relations from the same institution in 1987. Adenipekun, he said,

joined the services of WAEC on October 3, 1989, as an Assistant Registrar II, from where he rose through the ranks to become Senior Assistant Registrar in year 2,000 and a Principal Assistant Registrar in 2005. Adenipekun was promoted to the rank of a Deputy Registrar in 2011. Ojijeogu noted that the new WAEC boss in Nigeria had held several positions of accountability in the council and had distinguished himself as a primus inter pares, a first among equals. The spokesman added that Adenipekun was Head, Meetings and General Services Department of the body from February 1996 to January 2001. Ojijeogu added that he assumed office as the Head of the Nigeria National Office of WAEC on December 9, 2015.

Chair for Lagos Security Trust Fund

he Lagos State House of Assembly has confirmed Mr. Oye Hassan-Odukale, as the Chairman of the Lagos State Security Trust Fund. Hassan-Odukale is the Managing Director of the Leadway Assurance Company. Hassan-Odukale told the lawmakers that his objective was to raise more money for the Fund through the private sector. He said that his company had contributed immensely to the Fund in the past. The board of LSSTF has eight members and the Fund is meant to equip all security agencies such as the Police,

Army and the Department of State Services. The lawmakers confirmed the nominee after taking turns to ask him questions on the new ideas he would inject into the system and how to enhance security in the state. Speaker of the House, Mudashiru Obasa, noted that the decision should be communicated to the governor. Governor Akinwunmi Ambode had, in November, named Hassan-Odukale as chairman of the LSSTF and asked the Assembly to confirm him. He said: “We will raise money for the Fund through the private sector and the

equipment must be properly managed. “We will monitor the funds properly. “It is a volunteer work for me to raise money for the state through my network and those of others on the board. “We need to win the trust of the people that are contributing to the Fund.” Hassan-Odukale, who noted that he had been contributing to the LSSTF, said that residents should feel safe in their homes, offices and anywhere they may be. He assured the lawmakers of transparency and integrity in the disbursement of the Funds.

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

New bursar for Ambrose Alli varsity

he Ambrose Alli University (AAU), Ekpoma-Edo State has appointed Mr. Lawrence Okekhigbemen Esene as its substantive bursar. According to a statement by the university’s spokesperson, Mr. Chris Adamaigbo, the new bursar will serve for five years. Before his appointment, Esene, who hails from Uhiele-Ekpoma, was the Chief Accountant in charge of the Treasury Services Division of the bursary department.

Born on September 23, 1960, Esene was employed by the university as an Assistant Executive Officer (Accounts) on February 3, 1988 and rose through the ranks to the position of chief accountant on October 1, 2010. He holds a Bachelor of Science degree in Accounting from Edo State University, Ekpoma in 1995 and a Masters degree in Business Administration (MBA) from Ambrose Alli University, Ekpoma, 2000.

Alpha Mead boss bags NSE’s Presidential Merit Award

n recognition of its continuous and exemplary commitment to Global Best Practice in Nigeria’s facilities management (FM) industry, the Managing Director of Alpha Mead Facilities & Management Services Limited (AMFacilities), Mr. Femi Akintunde, an engineer, has been conferred with a Presidential Merit Award for his exemplary commitment toward the development of the maiden edition of the Nigerian Society of Engineers (NSE)’s National Infrastructure Score Card. The award was given to him by NSE. Also, NSE has recognised AMFacilities as “An outstanding facilities engineering company.” The award was presented to Akintunde at NSE Conference held in Akure, the Ondo State capital. According to the NSE President, Mr. Ademola Olorunfemi, the award was in recognition of the company’s contribution to the engineering

profession in the facilities management sector in the country. Olorunfemi said: “Alpha Mead is indeed an outstanding Facilities Management Company. The company is currently operating in six countries in Africa, with many engineers in its employment.” Responding, Alpha Mead boss, Femi Akintunde, said: “We are deeply honoured by this recognition. NSE is the umbrella association for all engineering associations in Nigeria and it is actually quite humbling for a society of engineers with close to 30,000 members to confer this type of award on us.”

Femi Akintunde

News

Five IT techs to boost economy CONTINUED FROM PAGE 26

Oye Hassan-Odukale

network connectivity, which enables these objects to collect and exchange data. “The Internet of Things will be the focus of digital business products and processes in industrial and operational contexts. “We should expect technology to be embedded everywhere. Nigerians are fond of pursuing advancement in technology and are in the forefront of acquiring the latest technological gadgets.” Also, as mobile computing meets cloud computing, NIRA forecast that centrally-coordinated applications that could be delivered to any device would continue to grow.

It added that the apps that could use intelligence and storage effectively would benefit from lower bandwidth costs. The report also said that more companies would begin to roll out businesses similar to hotels.ng,Konga.com.ng, Google.com.ng and Facebook. com. The report noted: “As cloud-optimised and software-defined methods become mainstream, we’ll see a move towards web-scale IT. The Nigerian SMEs are bent on succeeding online and are promoting their businesses online. “The fifth trend that will also shape the Nigerian econ-

omy next year in the expected increased adoption of .ng domain names which will add value to the country’s growing digital economy.” It noted that in 2016, more Internet users will continue to realise the immense opportunities with using the .ng domain brand and name. “As the global market continues to move online, Nigerians will use the .ng domain name for websites that they build. They will upload and share their local contents whilst retaining their global presence. The Nigerian culture and natural resources would be showcased online and at a reduced cost,” it stressed.

Business | Stock Watch

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

Despite the ICT industry’s continued growth and contributions to the nation’s economy, the fortunes of Computer Warehouse Group have continued to shrink as it pulls through a mix of positive and negative challenges, Chris Ugwu reports

CWG: Earnings shrink on foreign exchange woes Share price movement of Warehouse Group Plc 2015

lthough Nigeria is yet to fully arrive as far as ICT infrastructure is concerned, this has, however, not deterred the rest of the world from moving on and conducting their socio-economic engagements through the applications of fast developing scientific dynamics. New ICT-related tools have been known to make institutions and markets more productive, enhance skills and learning, improve governance at all levels, and make it easier for services to be accessed. It has also been able to attract some foreign investors to the country. However, despite massive investments in ICT infrastructure and capacity building, Nigeria, to a large extent, is digitally isolated from the global village as it lacks the critical drive and strategies to harness the full potential of ICT for socio-economic development of the country. Some challenges facing full ICT deployment in the country include inconsistent government policies in form of multiple taxations, conflicts of interest from government agencies as regulators and operators, duplicity of functions, poor import and export information on rights, obligations and privileges among others. Generally, the security challenges in the northern part of the country, domestic constraints such as depletion of fiscal buffers, dwindling foreign reserves, erratic supply of public electricity have also remained a thorn in the business operating environment. Due to the unfavorable operating environment, Warehouse Group Plc (CWG) has headed southwards in its bottom line. The company had begun the year 2015 with a loss in profit and remained in red within the third quarter of the year. To this end, market analysts have predicted that the company’s earnings is likely to remain under pressure as the operating environment remains unfavourable with stiffer competition. Market sentiments for the shares of the company have also tilted downwards in response to the general share depletion being witnessed in the local bourse despite improved product rebranding and increased market penetration. Specifically, the share price, which closed at N4.13 per share on January 31, 2015 has recorded a decline in growth and also headlined by the closing bell at

Okere

the stock market on Friday when the company’s share price stood at N2.67 per share, representing a decrease of N1.46 or 35.35 per cent year to date. Financials In spite of the company’s turnover getting high with 9.5 per cent growth, CWG still reported a loss in profits. The company had began the first quarter ended March 31, 2015 with a loss after tax of N230.3 million as against profit position of N9.9 billion posted a year earlier, accounting for a decline of 2,416.9 per cent. According to a filing with the Nigerian Stock Exchange (NSE), the company also reported a loss before tax of N230.3 million form profit position of N10.2 billion during the comparable period of 2014, representing a drop of 2,347.4 per cent. However, its turnover stood at N3.8 billion in 2015 as against N3.5 billion posted during the comparable period of 2014, accounting for an increase of 9.5 per cent. Computer Warehouse Group declared revenue of N8.9 billion for the half year ended June 30, 2015. The results showed that the revenue was up compared with N8.4 billion posted in the corresponding period of 2014. However, business margins were squeezed from 20 per cent in 2014 to 14 per cent in 2015, as the company was unable to fully pass increased costs to its customers.

The bottom line figures were affected primarily by two factors

Jan 31

N4.13

Feb 28

N4.13

Mar 31

N4.00

Apr 30

N4.00

May 31

N4.00

June 30

N3.98

July 31

N2.95

Aug 31

N2.81

Sept 30

N2.67

Oct 30

N2.67

Nov 31

N2.67

Similarly, there was a seven per cent increase in operating expenses from N1.3 billion to N1.4 billion due largely to one-off restructuring expenses taken by the company. As a result, CWG ended the half year with a loss of N351 million, compared with a profit of N246 million in the corresponding period of 2014. Also, with a significant segment of the company’s business dependent on international procurement, the difficulties of foreign exchange sourcing had a negative impact on the results. However, despite the loss, the company finished with a strong cash position of N1.3 billion at the end of the second quarter of 2015. The loss continued during the third quarter as nine months ended September 2015 resulted in a loss after tax of N516.333 million as against N148.525 million in 2014, representing a drop of 448 per cent. However, the turnover grew by 10 per cent from N11.2 billion in 2014 to profit position of N148.525 million during the comparable period of 2014. Profit deflators At the10th Annual General Meeting recently, the Chairman of the company, Chief Willie Belonwu, said that the fall in oil prices in 2014 created downward pressure on the foreign reserves, which consequently led to various new CBN policies that saw to an eventual devaluation of the naira. “The devaluation of the naira coupled with the political uncertainty towards the end of the year also saw portfolio investors divesting from the economy and taking their money out of the country. This further increased the funding gap in the foreign exchange market, as the demand for dollars outpaces the supply, putting pressure on the value of the naira,” he said. Belonwu noted that the bottom line figures were affected primarily by two factors.

“First was the drop in the revenue figures with a less than corresponding drop in the operating costs. The second was the foreign exchange losses of up to N380 million, arising from the devaluation of the naira and the Central Bank of Nigeria's (CBN) directive that excluded IT related companies from the Retail Dutch Auction System (RDAS) foreign exchange window,” he said. Looking forward Belonwu said that the company should continue to focus on continuing investments in new lines of business, christened CWG2.0, which is better positioned to withstand macroeconomic shocks, especially those relating to foreign exchange. The founder and Chief Executive Officer of Computer Warehouse Group Plc (CWG), Mr. Austin Okere, said that its mobile financial services partnership with CIT Vericash was set to power the mobile financial services of one of the largest banks in Nigeria with plans for full scale Africa-wide deployment in the coming months. Okere said at the AGM that its consortium partners had started their first phase of deployment of a unique third party insurance management system in one of the largest states in Nigeria. He noted that the system was projected to help the state generate significant revenue while ensuring that the public gets benefit for their mandatory third party insurance on their vehicles. “While not yet Africa’s number one technology platform provider, the increasing pace of roll out of platform solutions and growth in subscriber numbers are clear pointers of reaching that ambitious goal sooner than later,” he said. Okere reiterated the company’s commitment to keep focusing on developing new lines of businesses under the CWG2.0 model, which is better positioned to withstand macroeconomic shocks, especially those relating to foreign exchange movements. He listed the new products to include the flagship CWGSMERP, the cloud based Enterprise Resource Planning (ERP) product for SMEs, the awardwinning Openshopen.ng, e-commerce technology platform and CWG-SES Teleport Services. He added that being an intellectual property locally developed, implemented and supported by CWG, the business growth and profitability are immune from the shocks of foreign exchange fluctuation. Conclusion The business climate for CWG like any other ICT companies has been typically characterised by ups and downs, but the latter seemed to outweigh the former due to the challenges arising from unfriendly operating environment.

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

Insurance

CPS: Edo moves closer to implementation COMPLIANCE Not less than 22 states have so far keyed into the new pension scheme

ollowing its belief in transparent and stable pension arrangement, Edo State Government is putting final touches to documents aimed at full implementation of the Contributory Pension Scheme (CPS) in the state. When fully implemented, Edo State would have joined a few other states, whose civil servants are currently enjoying the benefits of CPS. Disclosing the arrangement last week in Benin City, the state governor, Comrade Adams Oshiomhole, said it was part of measures to halt the fraud that had been prevalent at the state Pensions Board under the government funded pension arrangement. The governor, who lamented the enormity of fraud at the board, said the revitalisation of the CPS process was to put an end to the unfunded pension regime that had prevailed over the period. He said: “The House of Assembly has since amended the law, adjusted the rate of contribution to bring it in line with the practice at the Federal level and the trade unions have all agreed on this scheme and we have all agreed that we should start the implementation immediately. “This of course will lead to additional cost burden on government but it is a burden that no government can run away from and we are ready to take it on board.” Last year, the Director-General of the National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu, had projected that more state and local governments employees would soon be enrolled in the scheme. She said before the enactment of the Pension Reform Act 2014 that some state governments, particularly in the South-West, had es-

tablished the CPS and were at various stages of its implementation, stressing that the PRA 2014 had taken state and local governments’ participation in the CPS to the next level by express legislative statement on the coverage of employees of state and local governments. Anohu-Amazu urged those that had yet to adopt or implement the CPS to do so in order to their employees of the numerous benefits of the scheme, saying the commission had established functional offices in the six geo-political zones of the federation and was now strategically positioned to offer the needed technical assistance to state and local governments. In August, the com-

mission revealed that eight more states had commenced the remittance of pension contributions into the Retirement Saving Accounts (RSA) of their employees. With the addition of eight states, the total number of states in the scheme rose to 22. Fourteen states had enlisted since October 2013. In a bid to ensure all states enlisted, the 2014 Pension Reform Act (PRA 2014) made it compulsory for states to compulsorily implement the scheme. According to the report, 26 states had so far enacted the laws on CPS while others have initiated a bill but yet to be enacted. The report stated

that six out of the states had also commenced the funding of their Retirement Benefit Bond Redemption Fund Accounts. Since inception, apart from ensuring that contributors receive their entitlements after retirement, the CPS has also put an end to fraud in the pension system. Oshiomhole, while speaking on the fraud in the state, said while some pensioners were unable to get their gratuities, others had two vouchers in their names. He therefore ordered the scrapping of the Board while a Bureau would be created to oversee the payment of pensions. He also assured that local government pensioners would get paid as

steps had been taken to ensure regular payment of local government pensioners. The governor said: “Government is aware that quite a number of our senior citizens, particularly the ones who were in the employment of the Local Governments, covered by the Local Government Pensions Board, for some reasons have not received their pension for a couple of months. “I need to make the point clear, because when I see their comments, it seems to state that the state government is responsible for the payment of their pensions. “It is true that state government has some level of responsibility to supervise and watch

over the conduct of local governments. However, the local governments remain the 3rd tier of government and their roles and responsibilities are fully spelt out in the Constitution. “Since I assumed office, Edo State Government under my stewardship has never and will never interfere with the funds of local governments. “However, following the recent sharp drop in the revenue accruing to the local governments from the federation account, many of our local governments found out that after providing for payment of teachers salary, which we consider first line charge, what they have left was hardly enough to meet their salary obligations.

L-R: Managing Director, MIXTA Nigeria, Mr. Kola Ashiru-Balogun; Chairman/CEO, MIXTA Africa, Mr. Deji Alli; Chief Executive Officer, ARM Group, Mrs. Jumoke Ogundare; Deputy Chief Executive Officer, Mr. Sadiq Mohammed and Chief Operation Officer, MIXTA Africa, Mr. Daniel Font, at the launch of MIXTA Africa Brand in Lagos.

Lagos reviews pension payment to deceased staff’s families

he Lagos State Government has commenced the process of reviewing payment of an additional 20 per cent of accruable rights to the family of a deceased staff apart from the basic entitlements under the State Pension Law 2007. A statement from the Ministry of Finance said that the proposal was part of efforts by the current administration to provide suc-

cour to family members and relatives in case of death of a staff while in active service. It stated further that the state government had extended the Accident Insurance policy for all her employees to cover accidental acts during the active service years of the concerned staff regardless of the period of occurrence including weekends, unlike in the past where the policy was only accessible to staff who

were injured during working days and hours. The statement emphasised that the state government would continue to play the lead role in prioritising the welfare of all those in its employ while in active service and would make provision for commensurate financial welfare and succour for them in case of unexpected incident while on duty. The Lagos State Pension

Reform Law 2007 stipulates that the life insurance policy will be made mandatory for employees through the appropriate insurance company to pay money that is up to three years basic emoluments of the concerned staff, comprising Basic Salary, Housing Allowance and Transport Allowance as benefits for the relative in case of an employee’s death while in service.

Business | Insurance

NEW TELEGRAPH MONDAY, DECEMBER 14, 2015

ARM Group celebrates wealth creation FUND ADMINISTRATOR The organisation is one of the Pension Fund Administrator s in the country

Andrew Iro Okungbowa

tarting from ground zero in 1994, Asset and Resource Management Company Limited (ARM) Group has grown from being an investment management outfit to become Nigeria’s largest and fastest growing non-bank financial institution with over N630 billion funds in its kitty, N25 billion shareholders’ fund and over 2, 500 staff and still counting. Besides, it has within these two decades and one year succeeded in building a diversified and integrated asset management and funds business through organic growth and acquisitions with over six subsidiaries, which are devoted to the entire financial life cycle of an individual, from credo investments to wealth creations, accumulation, consolidation and distribution to the next generation. These spectacular feats no doubt called for celebration hence, the new crop of executive committee team led by the Chief Executive Officer, Ms Jumoke Ogundare, last week hosted a section of the press at their Ikoyi, Lagos headquarters where they unveiled their successes, the prospects and future plans of taking it to highest peak and of course roll out plans to celebrate 21 years of impacting on lives and communities across Nigeria and Africa. Setting the ball rolling, Ogundare, in retrospection disclosed that the company in 1994 at the time when there was financial crisis in the nation’s economy: ‘‘we started at the time when there was financial crisis in Nigeria. We started with trying to provide information and education on the fact the people needed to create investment regardless of their ages and statuses,’’ she said. She disclosed that the company has grown over the years moving from its traditional and core business areas to other alternative businesses where it has created tremendous wealth for its clients and the Nigerian economy

as well as added value to some communities. ‘‘We have created wealth for our partners and we have done that successfully,’’ adding that ‘‘we have impacted on our clients and the community.’’ Celebrating the growth and successes of the group, the CEO said that ‘‘we have done things that people thought were not possible in Nigeria,’’ revealing that it people has been it greatest asset in its 21 years journey: ‘‘ARM has been very lucky to have dedicated people who also share in the vision of the company,’’ she

said while insisting that integrity has also stood the company well. ‘‘We hold integrity high in our dealings with our clients. Building relations based on integrity is very important to us and we have done this over the years very successfully and we have grown over the years and we have evolved as what is very important to us is how we can add value to our clients. We are very diversified and yet integrated firm.’’ In the words of Ms Ogundare, ‘‘ARM started as a company offering private wealth manage-

ment services to a niche market of high net worth individuals; twenty one years on, we have evolved into a diversified and integrated asset management company with a focus on providing investment solutions to retail, high net worth and institutional investors. The business we started with over two decades ago is now a subset of one of the several businesses in the ARM Group.’’ She stressed that ‘ARM’s success has been hinged on the ability to remain focused on its essence of realising ambi-

tions; its staff; and, core values. ‘‘Our business success is ensured by the support of our over 2,500 staff. We plan to continuously foster an inclusive, diverse and thriving workplace in the coming years,’’ said the CEO even as she stated that ARM’s vision was recently revised from being a West-Africa focused business to an Africa focused business to reflect its actualisation of its West Africa reach and to signal its foothold in Africa through its acquisition of Mixta Africa. Speaking also on the

L-R: Technical Director, UACN Property Development Company, Mr Brian Greenaway; Chairman, Amuwo Odofin Local Government Area, Mrs. Ajibola Ojodu; Managing Director, UACN Property Development Company, Mr. Hakeem Ogunniran; Special Adviser to Lagos State Governor on Commerce and Industry, Mr. Benjamin Labinjo and Group Managing Director, UAC of Nigeria Plc, Mr. Larry Ettah, during the official commissioning of UACN Property Development Company's Festival Mall in Festac, Lagos. PHOTO: TONY EGUAYE

Man gets 37 years for $100m premium fraud

businessman who prosecutors say stole over $100 million in insurance premiums to live a life of luxury has been sentenced to 37 years in prison. Forty-year-old Jeffrey Brian Cohen of Reisterstown, about 25 miles northwest of Baltimore, was also ordered to pay restitution at sentencing Thursday in

Baltimore federal court, prosecutors said in a news release. Four days into his trial in June, prosecutors say, Cohen pleaded guilty to wire fraud and other offenses. Prosecutors say Cohen was CEO of Indemnity Insurance Corp., which specialized in insuring nightclubs and bars.

Authorities say Cohen falsely represented the financial status of businesses he controlled to fraudulently obtain insurance premiums. Cohen used the premiums to buy a multi-million dollar house in Florida, three homes in Maryland and expensive cars such as a Bentley.

Retirees demand harmonisation of pension disparities

s part of celebrations to mark the World Pensioners Day last week, the Nigerian Union of Pensioners (NUP) lamented the disparity in payments between the old and new pensioners. While the union called on the government to urgently harmonise the process in a communiqué released after its National Delegates’ Coference in Abuja, it demanded the immediate payment of the 42 months arrears on a 33 per cent increase on pension emoluments the Federal Government owes its members. The NUP called on the Pen-

sion Transitional Arrangement Directorate (PTAD) to quickly address the problems being encountered by pensioners in the ongoing biometric/verification exercise. while appealing to the office of the Accountant General, Budget Office of the Federation and the PTAD to work together towards ensuring payment of their pensions as at when due, the union, however, commended PTAD for the commencement of the biometric/verification exercise for pensioners and urged the directorate to sustain and complete the exercise in good time.

The union through the communiqué condemned the recent pronouncement of some governors who called for the reduction of the minimum wage, adding that it would continue to engage the relevant government authorities on the need to unionise all retirees under the Contributory Pension Scheme to join the NUP. The communiqué, which was signed by the NUP National President, Dr. Abel Afolayan, and the General Secretary, Elder Actor Zal, also demanded for the balance of 20.4 per cent it claimed was overdue.

achievements of the group, the Deputy Chief Executive Officer of ARM, Sadiq Mohammed said that ‘‘ARM has helped in realising the ambitious of its clients, afforded its clients the opportunities to make investment in diverse areas of the Nigerian economy and we have been able to generate employment in different areas,’’ adding that ‘‘we have also made impacts in different aspects and have been pioneers in different areas even as we have set standards and created things that people thought were not possible in Nigeria.’’ Looking ahead, Mohammed said the future of the group is very bright as it has envisioned for itself great plans to continue to evolve and boost the wellbeing of its clients and Nigerians, Africans and the world at large through its many areas of interventions just as he revealed that the future of the group lies in retailing business. ‘‘Our focus is retail because the future is retail and our services are affordable,’’ said Mohammed. He then took his audience through the existing business structure of the group, which he said is, ‘‘aimed at leveraging the strengths of its core businesses, positioning the company better operationally and increasing efficiency across the group.’’ These are the traditional asset management and the funds business with the following operations: ARM Investment Managers Limited – its pioneer company in 1994, started with private wealth management service to HNIs but have now grown to serve a larger client base including retail investors and institutions offering traditional and alternative investment options; ARM Life Plc – acquired Crystal Life Assurance in 2012 and provides pure Life Insurance; ARM Securities Limited – a world class brokerage firm which is the product of acquisition of Hamilton Hammer & Co. Limited ("HH") in 2008; ARM Pensions Limited – One of the first set of PFAs licensed in Nigeria; ARM Trustees Ltd – established in 1997 to complement private wealth management service; and ARM Financial Advisers Ltd –this is the sales platform for ARM's retail businesses. Others include: ARM Capital Partners; ARMHarith Infrastructure Investment Company; Mixta Africa Plc; and ARM Agriculture Fund.

Business | Financial Market News

MONDAY, DECEMBER 14, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

11-Dec-15

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 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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

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

581.39 480.13 20.00 100.00 300.00 351.30 233.90 451.93 605.31 719.99 75.00 150.00 200.00 591.57 1075.92

TOTAL OUTSTANDING VALUE

5,936.44

TOTAL MARKET CAPITALISATION

6,498.10

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

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

0.68 1.38 1.63 1.72 2.47 3.55 3.87 4.17 6.13 8.26 12.97 13.44 13.94 14.61 18.60

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

5.41 7.18 7.55 7.66 8.61 9.77 10.75 10.88 11.12 10.99 11.23 11.23 11.23 11.04 11.08

3.98 6.46 6.90 7.05 8.17 9.47 10.40 10.61 10.92 10.82 11.11 11.10 11.07 10.90 10.96

105.03 110.19 103.45 102.65 104.55 118.29 88.37 115.25 122.93 117.09 125.41 108.61 80.95 92.49 108.35

106.03 111.19 104.45 103.65 105.55 119.29 89.37 116.25 123.93 118.09 126.41 109.61 81.95 93.49 109.35

5891.438936

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.80

03-Apr-17

0.64

2.94

8.29

105.45

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.80

TOTAL MARKET CAPITALISATION

1.90

Sub-National Bonds BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.30

4.46

7.20

101.99

A/Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.31

3.48

6.33

102.77

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.35

3.34

10.29

99.62

A-/Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

0.85

1.00

6.65

105.67

A-/Agusto

EDO

14.00 EDO 31-DEC-2017

31-Dec-10

14.00

25.00

31-Dec-17

3.94

12.02

A/Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

27.25

30-Sep-18

1.65

1.00

8.58

108.01

04-Oct-11

14.00

4.91

04-Oct-18

1.66

1.00

8.59

108.04

A-/Agusto; A-/GCR

2.06

103.49

*NIGER

14.00 NIGER II 4-OCT-2018

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

10.98

09-Dec-18

1.85

2.21

10.03

107.24

A-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

1.64

4.78

12.34

102.32

A-/Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

24.44

14-Feb-19

1.83

1.00

8.79

110.81

BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR

*GOMBE LAGOS

15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019

02-Oct-12 22-Nov-12 12-Dec-12

15.50 14.50 14.75

13.87 80.00 23.75

02-Oct-19 22-Nov-19 12-Dec-19

2.25 3.95 2.22

2.02 1.00 1.00

10.35 11.92 9.29

109.80 107.93 110.53

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.12

10-Oct-20

2.75

3.37

12.36

105.30

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

4.96

1.03

12.49

103.63

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.06

2.39

13.86

104.02

‡ /Agusto

*EKITI

14.50 EKITI II 31-DEC-2020

31-Dec-13

14.50

4.30

31-Dec-20

2.90

1.00

10.18

110.22

*NASARAWA

15.00 NASARAWA 06-JAN-2021

06-Jan-14

15.00

4.31

06-Jan-21

A-/Agusto

*BAUCHI

15.50 BAUCHI 9-DEC-2021

09-Dec-14

15.50

14.37

09-Dec-21

3.97

1.52

11.89

110.13

A-/Agusto

*OYO

16.50 OYO 16-FEB-2022

17-Feb-15

16.50

4.61

16-Feb-22

3.73

3.67

14.14

106.29

A-/GCR

2.93

1.00

10.21

111.41

Bbb-/Agusto

*BENUE

16.50 BENUE 27-FEB-2022

27-Feb-15

16.50

4.75

27-Feb-22

3.76

1.00

11.52

114.18

Bbb+/Agusto

*PLATEAU

17.50 PLATEAU 30-MAR-2022

30-Mar-15

17.50

27.10

30-Mar-22

4.03

2.52

13.29

111.82

A-/Agusto A-/GCR

KOGI *CROSS RIVER

17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

01-Apr-15

17.00

3.00

31-Mar-22

6.46

1.79

13.32

115.32

27-May-15

17.00

7.68

27-May-22

4.02

3.04

14.08

108.32

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

476.93 506.94

Corporate Bonds BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.07

2.63

3.13

100.70

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

0.80

1.00

6.58

104.90

A-/Agusto Nil Nil Nil A/GCR

FSDH

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

25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10

14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00

5.53 112.22 116.70 66.49 20.00

25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17

0.87 0.99 1.35 1.57 1.80

1.34 1.00 6.31 1.08 2.38

7.02 6.85 13.26 8.55 10.15

105.99 108.63 103.85 111.43 104.56

18.00 C&I LEASING 30-NOV-2017

***LCRM UBA

BBB-/GCR

30-Nov-12

18.00

0.46

30-Nov-17

1.26

1.88

8.52

111.80

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

4.50

09-Apr-18

1.33

3.15

10.02

107.11

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.18

09-Sep-18

1.49

1.00

8.37

113.00

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.60

09-Sep-18

1.49

1.00

8.37

110.30

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

2.80

1.00

10.05

109.41

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

1.80

18-Oct-18

1.60

5.27

12.79

104.00

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

17-Feb-12

18.00

0.32

17-Feb-19

1.69

6.11

13.73

105.96

Nil

*C & I LEASING *DANA#{r}

Nil A-/DataPro†; B+/GCR AAA/DataPro†; A/GCR

*TOWER

MPR+5.00 CHELLARAMS II 17-FEB-2019

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.06

3.28

11.36

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

4.93

1.00

12.46

110.01

BBB/GCR

*FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

5.94

1.64

13.19

104.25

108.10

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.05

1.00

12.55

116.17

BBB/GCR

FIDELITY

16.48 FIDELITY 13-MAY-2022

13-May-15

16.48

30.00

13-May-22

6.42

3.90

15.42

104.20

A-/GCR

*TRANSCORP HOTELS PLC

16.00 TRANSCORP 26-OCT-2022

26-Oct-15

16.00

10.00

26-Oct-22

4.59

2.77

14.21

105.65

A/GCR

STANBIC IBTC

182D T.bills+1.20 STANBIC IA 30-SEP-2024

30-Sep-14

16.29

0.10

30-Sep-24

8.80

1.00

12.25

121.35

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

8.80

1.00

12.25

105.26

AAA/GCR

*NMRC

14.90 NMRC 29-JUL-2030

29-Jul-15

14.90

7.98

29-Jul-30

9.83

1.00

12.24

114.34

TOTAL OUTSTANDING VALUE

507.59

TOTAL MARKET CAPITALISATION

545.86

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.17

1.00

7.54

105.21

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.39

1.00

10.84

101.08

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 25.71

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

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

8.32

8.04

93.53

94.67

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

7.09

6.59

95.45

96.57

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

8.52

8.29

88.18

89.39

100.80

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

1,385.81

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.54

100.80

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.58

99.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

16.41

14.84

81.69

84.40

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

8.37

94.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.07

92.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

12.37

11.75

90.10

91.71

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

11.58 12.52 12.59

87.82 87.25 81.38

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

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,304.33

**Treasury Bills^ DTM 13 27 34 41 48 55 62 69

FIXINGS Maturity 24-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16

Bid Discount (%) 1.00 0.50 0.42 0.84 0.28 0.82 1.26 0.89

Offer Discount (%) 0.50 0.00 -0.09 0.34 -0.22 0.32 0.76 0.39

Bid Yield (%) 1.00 0.50 0.42 0.84 0.28 0.82 1.26 0.89

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 0.9583 8.8918 10.6733 12.7228

Rate (%)

OBB

0.50

O/N

1.00

Tenor Call 1M

REPO

Rate (%) 1.53 4.65

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

199.00 199.50 201.94 202.19 203.12 212.15

199.10 199.60 202.04 202.29 203.22 212.25