Tuesday, march 3, 2015 binder1 by Newtelegraphonline

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Tuesday, March 3, 2015

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Vol. 2 No. 377

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N150

Dangote retains 2015 Africa’s richest title }5

Banks face hurdles in raising capital

l12 lenders need fresh funds Ayodele Aminu and Tony Chukwunyem

lans by several banks to seek additional

funds through rights issues or public offering as part of efforts to comply with the Central Bank of Nigeria’s (CBN) new capi-

tal requirements rules, are being threatened by stiff regulatory demands and global economic challenges.

The CBN had, in August 2014, changed the way lenders calculate capital buffers in order to align the country to global stan-

dards and also to increase banks’ ability to withstand losses. It also removed some asCONTINUED ON PAGE 6

25 days to go... Nigeria votes

2015

ria Nige

es vot

15 20}14 & 15

Fuel agony here

lScarcity hits 23 states, as PDP blames APC for situation }2 lPPPRA traces crisis to naira devaluation, banks

Quick Read Editorial

As Jonathan visits war }19 zone

Motorists in queues at a petrol filling station in Lagos…yesterday.

PHOTO: GODWIN IREKHE

Army repels Boko Haram from Borno town lTroops clear another Yobe town of Boko Haram

Party seeks Emmanuel Onani, ban of PVC, Ahmed Miringa and Abdul card readers Ibrahim Nigerian Army yesfor polls }5 The terday repelled attack

launched by Boko Haram terrorists against Konduga, the headquarters of Konduga Local Government Area of Borno State. Scores of insurgents

were killed by the troops in the failed attempt by the terrorists to invade the town. A resident of the area, Mallam Abor Yale, said the

insurgents came with cattle disguising like nomads when the troops of the 7th Army Division opened fire on them, killing a large CONTINUED ON PAGE 6

Travel Advisory

Your guide to local and international flights }4

News

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

Fuel scarcity worsens, hits 23 states V Our Correspondents

ehicle queues lengthened in many filling stations across Nigeria yesterday as the scarcity of petrol, which began about a week ago, spread to at least 23 states, according to New Telegraph investigation. Most filling stations shut their gates against customers, while majority of those that opened for business sold above the regulated price of N87 per litre. In most states, a litre of petrol was selling for between N100 and N120. At the black market, a litre sold as high as N200. The fuel crisis opened another flank in the war of attrition between the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) as they engaged in recriminations on the cause. The PDP accused the opposition of engineering the crisis by suborning fuel marketers not to import the commodity to embarrass the administration of President Goodluck Jonathan. But the APC fired back and accused the ruling party of abdicating its responsibility to the people. However, the Executive Secretary of the Petroleum Products Price Regulating Agency (PPPRA), Mr. Farouk Ahmed, blamed banks and the devaluation of the naira for the fuel crisis. Amid the transportation pang occasioned by the scarcity, the Nigerian National Petroleum Corporation (NNPC) assured Nigerians of relief by Friday when it would flood the market with petrol. In Ogun State, the biting fuel scarcity has forced the price of a litre of petrol â&#x20AC;&#x17D;from N87 to between N100 and N110. Findings by New Telegraph revealed that many filling stations shut down operations while the few that opened sold the product at between N100 and N110 per litre. Long queues of vehicles were seen at the filling stations, which have fuel in stock. Commercial cab operators in Abeokuta warned of a hike in fares should the situation linger. A visit to the NNPC Mega Station on Abiola Way, Abeokuta showed that the filling station did not dispense petrol to prospective customers. The lingering fuel scarcity in Adamawa State, which started last week, continued to bite harder in major towns of the state yesterday. Black market

operators had a field day selling the commodity at between N130 to N180 per litre. But most of the filling stations in Viniklang, a suburb of Yola, the state capital, sold the commodity for between N120 and N135 per litre. Most of the filling stations visited in Yola metropolis remained under lock and key, apparently due to non-availability of the commodity. In Kano, a gallon of four litres sold for N800 at the black market. New Telegraph observed that virtually all the filling stations in Kano, except the NNPC mega stations, were under lock and key. Major marketers of petrol in Cross River State have also refused to sell the product in their filling stations, preferring instead to sell it through the black market. Investigations by New Telegraph in Calabar, the state capital, showed that the few filling stations selling petrol did so at between N120 and N130 per litre.

The black market price was between N170 and N200 per litre. In Akwa Ibom State, petrol stations were selling petrol for N150 per litre while the price in the black market was N200. Investigations, however, revealed that while marketers attributed the scarcity of the product to non-availability of petrol at the Port Harcourt and Calabar depots, they had enough stock in their underground tanks and preferred to hoard it to fleece motorists. The fuel scarcity, which began to surface in Kaduna last Wednesday, bit harder yesterday as motorists queued for hours at filing stations in order to get petrol for their vehicles. A few fuel stations were dispensing petroleum within Kaduna metropolis and many vehicles massed around them, causing gridlocks around noon. There was heavy traffic around the Mobil station that was serving fuel around Lugard Hall Roundabout. Some of the filling sta-

tions sold the commodity for as high as N120 per litre. Black market operators had a field day as four litres of petrol cost N750 yesterday. As at yesterday, fuel sold for between N105 and N110 in Ebonyi State due to the fuel scarcity. To address the situation, the Ebonyi State Government has opened a fuel pump at the Ministry of Works to sell petrol to the public. In Edo State, motorists and residents embarked on panicky purchase of petrol amidst fears of possible hike in the prices of the products as against the approved pump price of N87 per litre. The development caused long queues at some filling stations where the product is available. Most of the petrol stations in Edo State were not selling petrol to motorists while there were long queues at MRS station on Sapele Road and Total filling station on First East Circular Road that have stock.

Petroleum products were available in many filling stations in Akure, the Ondo State capital and major towns in the state yesterday. However, most of the stations, especially the independent marketers were selling at N100 per litre. The major marketers who sold at the regulated N87 per litre, however, had long queues of buyers at their stations. The independent marketers who were selling above pump price of N87 per litre did not witness any queue. The marketers said they could not sell at the pump price of N87 per litre because of bridging. They said they lifted fuel at N85 at Mosimi and when the cost of N6 is added, it already beyond the N87.00 prescribed by the government. In Niger State, it is the same story as the product sold for N100 per litre. Most filling stations were without fuel while only the NNPC mega filling station was selling at

the normal price of N87 per litre. In Ekiti State, the scarcity of petrol, which became noticeable in Ado-Ekiti and its environ last week, eased a little bit yesterday, but with consumers paying more for it. By last weekend, almost all filling stations in the town were not selling the product, leading to many motorists abandoning their vehicles at home. However, by yesterday, some of the filling stations had fuel, but the prices ranged from N100 to N110 per litre. The NNPC Mega Station on Iworoko Road, which had the commodity and was selling at the official rate of N87 per litre, was besieged by motorists and motorcyclists. Transport fares have gone up slightly by about 20 per cent in the state. In Anambra State, filling stations were selling petrol at N100 per litre. In Enugu State, petrol was sold yesterday at between N100 and N110. CONTINUED ON PAGE 5

L-R: Managing Director, Pipeline and Product Marketing Company (PPMC), Mr. Haruna Momoh; Group General Manager, Public Relations Affairs, Nigerian National Petroleum Corporation (NNPC), Mr. Ohi Alegbe and Group Managing Director, NNPC, Dr. Joseph Dawha, during a visit to some petrol stations in Abuja...yesterday. PHOTO: ELIJAH OLALUYI

Party asks court to ban PVCs, card readers for polls Tunde Oyesina ABUJA

he United Democratic Party (UDP) has gone to court to stop the Independent National Electoral Commission (INEC) from using Permanent Voters' Cards (PVCs) and the card reader machines for the forthcoming general elections. The plaintiff, in a suit filed yesterday by its counsel, Alex Izinyon (SAN), at

the Federal High Court, sitting in Abuja, brought an ex-parte application seeking to stop INEC from using the card reader machines for the election. Justice Adeniyi Ademola, however, asked the plaintiff to put the defendants on notice. He later adjourned till March 10 for hearing. The UDP's suit is the third one seeking to stop INEC from using PVCs and card readers in the forthcoming elections.

A group had earlier sued the INEC and the Attorney General of the Federation, seeking an order restraining the electoral body from preventing every willing Nigerian who does not have the PVC from voting. The plaintiff also wants the court to restrain INEC from using card readers or other programmable machine, which may or have the effect of interfering with with the constitutional

right of any registered voter to vote at the 2015 general elections. The group is, however, asking for a declaration that INEC has no power to deprive or deny any Nigerian who is eligible to vote by virtue of Sections 77(2) and 117(2) of the 1999 Constitution the chance to vote in elections organised by INEC on the grounds of nonpossession of PVC or for any other reasons. The plaintiff also wants

the court to declare that the laws which prescribe the use of the card reader machine for screening voters' cards is ultra vires, unconstitutional and therefore null and void. Asides the suit pending before the Abuja court, a separate suit was also filed before the Federal High Court sitting in Yenagoa, Bayelsa State seeking to stop the use of PVCs and card readers for the forthcoming general elections.

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

Travel Advisory

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

International Flight Schedule Air France

Destination Abuja- Paris Paris-Lagos Paris-PHC PHC-Paris Paris –Abuja Lagos –Paris

Flight No. AF 513 AF 3822 AF514 AF513 AF514 AF3849

Departure 23.55hrs 10.55hrs 11:00hrs 21:20hrs 11:00hrs 23:55hrs

Arrival 6:05hrs 17:15hrs 19:15hrs 6:05hrs 17:00hrs 6:20hrs

Amsterdam-Lagos Lagos-Amsterdam

KL587 KL588

13:15hrs 23:05hrs

20:00hrs 05:50hrs

KLM

ARIK AIRLINES

Lagos-London London-Lagos Lagos-New York

W3 101 W3 102 W3 107 (Mon, Wed , Fri) New York-Lagos W3 108 (Tues,Thurs, Fri) Lagos-Johannesburg W3 103 Johannesburg-Lagos W3 104 Lagos-Douala - (Tues, Wed ,Thur) Douala-Lagos - (Tues, Wed, Thur) Lagos-Accra Accra-Lagos

Abuja-Accra Accra-Abuja Lagos-Freetown Freetown-Lagos Lagos-Banjul Banjul-Lagos Lagos-Dakar Dakar-Lagos

-(Tue, Thur, Sat, Sun) -(Mon, Wed, Fri) -(Daily) - (Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Mon, Tue, Thur, Fri,Sat) -(Tue,Wed, Fri,Sat,Sun)

BRITISH AIRWAYS

London-Lagos Lagos-London Abuja-London Abuja-London

07:00hrs 20:05hrs 20:10hrs 11:45hrs

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

EGYPT AIR

KENYA AIRWAYS

16:00hrs

Lagos-Kigali

11:15hrs

16:45hrs

10:45hrs 09:35hrs 11:10hrs 13:25hrs 07:20hrs 17:00hrs 08:05hrs 13:35hrs 18:00hrs

hrs 14:44hrs hrs hrs hrs hrs hrs hrs hrs

AWB 201 (Mon, Wed, Fri, Sun) AWB 202 (Tue, Thur, Sat, Sun)

14:00hrs

17:30hrs

22:35hrs 15:10hrs

06:00hrs 21:20hrs

17:00hrs 06:00hrs 08:00hrs 17:00hrs 08:00hrs 15:20hrs 21:00hrs

hrs hrs hrs hrs hrs hrs hrs

01:00hrs

hrs

3:00hrs 14:00hrs

8:00hrs 19:00hrs

EK 7821 (Sun-Sat) EK 7822 EK 7831 EK 7811 EK 761

21:30hrs 14:40hrs 07:35hrs 14:20hrs 23:55hrs

07:40hrs 01:05hrs 12:50hrs 19:45hrs 10:30hrs

Lagos-Doha Flight Doha-Lagos Flight

QR 1414 (daily) QR 1415

14:55hrs 07:20hrs

23:45hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

Lagos - Addis Ababa ET900 Addis Ababa - Lagos ET901 Abuja - Addis Ababa ET910 Addis Ababa - Abuja ET911 Enugu - Addis Ababa ET930 Addis Ababa - Enugu ET931 Kano - Addis Ababa ET930 Addis Ababa - Kano ET931

13:15hrs 09:00hrs 13:40hrs 09:40hrs 12:00hrs 09:20hrs 14:05hrs 09:20hrs

20:25hrs 12:15hr 20:10hrs 12:20hrs 20:50hrs 11:15hrs 20:50hrs 13:20hrs

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 16:00hrs

5:25+1hrs 20:20hrs

Lagos-Casablanca Casablanca-Lagos

AT738 AT 737

06:25hrs 02:15hrs

09:55hrs 6:00hrs

air maroc

20.45hrs 09:50hrs 09.20 hrs 06:30hrs

12:30hrs

Lagos-Dubai Lagos-Dubai Dubai-Lagos Dubai-Lagos Abuja-Dubai

IBERIA

Abu Dhabi-Lagos

EY 0672 (Sunday) (Monday) (Saturday) EY 955

19:35hrs 23:45hrs

MEA 571 MEA 572

ETHIOPIAN AIRLINES

Lagos- Abu Dhabi

ETIHAD AIRWAYS

12:30hrs 18:00hrs

to Lagos)

UNITED AIRLINES

17:00hrs 4:40hrs

KQ 533 KQ 534

11:55hrs 5:50hrs 14:35hrs 06:00hrs

DELTA AIRLINES

11:00hrs 22:40hrs

Lagos-Nairobi Nairobi-Lagos

17:55hrs 00:00hrs 09:00hrs 22:40hrs

QATAR AIRWAYS

VS 652 VS 651

18:30hrs 05:15hrs 05:30hrs

BA075 BA074 BA 082 BA 083

EMIRATES AIRLINES

Lagos-London London-Lagos

12:00hrs 21:30hrs 23:50hrs

Middle East Airlines (Two flights weekly (Tues & Friday)

Lebanon-Lagos Lagos-Lebanon

VIRGIN ATLANTIC

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

HF 851 (Tues, Thurs, Fri, Sun) HF 852 (Mon,Wed, Thurs, Sat)

ASKY AIRLINES

Destination Lome to Abuja Abuja-Lome- Kinshasa Kinshasa-Abuja Abuja-Lome Lome-Lagos Lagos-Libreville Libreville-Kinshasa Kinshasa-Libreville Libreville-Lagos Lagos-Lome Lome-Lagos Lagos-Libreville Libreville-Brazaville Brazaville-Libreville Brazzaville-Lagos Lagos-Lome

10:10hrs

10:50hrs

19:20hrs

21.50hrs

Flight No. KP 032 (Tue-Fri) KP 032 ( Tue-Fri)

Departure Arrival 14:00hrs 15:55hrs 16:30hrs 18:15hrs

KP 033 (Wed-Sat) KP O33 (Wed-Sat) KP O40 (Sun-Sat) KP 040 (Sun-Sat) KP 040 (Sun-Sat) KP041 (Tue-Sat) KP 041 (Tue-Sat) KP 041 (Tue-Sat) KP O44 (Tue-Fri) KP 044 (Tue-Fri) KP 044 (Tue-Fri) KP O45 (Wed-Sat) KP 045 (Wed-Sat) KP 045 (Wed-Sat)

8:20hrs 10:35hrs 13:00hr 14:40hrs 17:00hrs 7:15hrs 9:35hrs 11:55hrs 13:10hrs 14:50hrs 17:10hrs 07:00hrs 09:20hrs 11:40hrs

10:00hrs 12:20hrs 14:00hrs 16:30hrs 18:45hrs 08:55hrs 11:25hrs 12:45hrs 14:10hrs 16:40hrs 18:50hrs 08:40hrs 11:10hrs 12:30hrs

Local FLIGHT SCHEDULE ARIK AIR

LAGOS-ABUJA (MON-FRI) 07:00; 08:00; 09:00; 11:00 13:00; 15:00; 17:00; 19:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 11:00; 13:00; 15:00; 17:00; 19:00 ABUJA-LAGOS (MON-FRI) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00; 20:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 09:00; 13:00; 15:00; 17:00; 19:00 LAGOS-PORT-HARCOURT (MON-FRI) 07:00; 09:30; 11:00; 13:30; 15:00; 17:30 (SAT) 07:00; 11:00; 15:00 (SUN) 09:30; 11:00; 13:30; 15:00; 17:30 PORT-HARCOURT-LAGOS (MON-FRI) 07:30; 09:00; 11:30; 13:00; 15:30; 17:00 (SAT) 07:30; 11:30; 09:00; 13:00; 17:00 (SUN) 11:30; 13:00; 15:30; 17:00 ABUJA-PORT-HARCOURT (MON-FRI) 06:45; 10:10; 13:30; 16:50 (SAT/SUN) 06:45; 10:10; 13:30 PORT-HARCOURT-ABUJA (MON-FRI) 08:30; 11:50; 15:10; 18:30 (SAT/SUN) 08:30; 11:50; 15:10

AZMAN FLIGHT SCHEDULE

WEEKLY SCHEDULE Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 12:40pm

Lagos-Abuja/Kano 4:00pm Abuja-Kano 5:45pm Kaduna-Lagos 8:00am Lagos-Kan 10:10am Kano-Abuja/Lagos 12:40pm Abuja-Lagos 1:00pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm WEEKEND SCHEDULE SATURDAY Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 1:00pm Lagos-Kano 4:00pm Kaduna-Lagos 8:00am Lagos-Kano 4:00pm Sunday Kano-Lagos 8:00am Lagos-Kano 10:30am Kano-Abuja/Lagos 1:20pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm

FIRST NATION AIRWAYS

LAGOS-ABUJA (MON-FRI) 06.50; 09:30; 11:45; 16:00 (SAT) 06:50; 11:45 (SUN) 11:45; 16:00 ABUJA-LAGOS (MON-FRI) 09:00; 11:30; 13:40;18:30 (SAT) 09:00; 13:40 (SUN) 13:40; 18:30 LAGOS-PORT-HARCOURT (MON-FRI) 14:45

(SAT) 16:15 (SUN) 14:45 PORT-HARCOURT-LAGOS (MON-FRI) 16:50 (SAT) 18:20 (SUN) 16:50

AEROCONTRACTORS

LAGOS-ABUJA (MON-FRI) 06:50; 13:30; 16:30; 19:45 (SAT/SUN) 12:30; 16:45 ABUJA-LAGOS (MON-FRI) 07:30; 13:00; 19:00 (SAT) 12:30 (SUN) 15:30

MEDVIEW AIRLINES

LAGOS-ABUJA (MON-FRI) 07:00; 08:50; 12:00; 15:30 (SAT) 10:00; 15:00 (SUN) 17:30; 18:30 ABUJA-LAGOS (MON-FRI) 09:00; 14:00, 15:00; 18:30

OVERLAND AIRWAYS LAGOS-ILORIN (MON-FRI) 07:15 LAGOS-IBADAN (MON-FRI) 7:00 IBADAN-ABUJA (MON-FRI) 08:00 IBADAN-LAGOS (MON-FRI) 16:30 ILORIN –ABUJA (MON-FRI) 08:30 ILORIN –LAGOS (MON-FRI) 17:00 ABUJA-ASABA (MON-FRI) 10:00 ASABA-ABUJA (MON-FRI) 14:15 ASABA-LAGOS (MON-FRI) 11:30 LAGOS-ASABA (MON-FRI) 13:00 ABUJA-ILORIN 16:00 ABUJA-IBADAN 15:00

News

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

Dangote retains 2015 Africa’s richest title lBill Gates, Slim, Buffets make global three Kunle Azeez

igeria’s business magnate and Chairman, Dangote Group, Alhaji Aliko Dangote, has again retained the title of Africa’s richest man in 2015, despite being the year’s biggest loser in dollar terms due to the economic crisis caused by the volatility in the global oil market. The 2015 World’s Richest People’s List, released yesterday by Forbes Magazine, ranked Dangote the 67th richest person in the world and the richest in Africa. Dangote’s fortune dropped to $14.7 billion from $25 billion last year, propelled downward by a weaker naira and shrinking demand for cement, his largest asset. Dangote Group has interests in commodities with operations in Nigeria and some other countries in Africa, including Benin, Cameroon, Togo, Ghana, South Africa and Zambia. Dangote surpassed Saudi-Ethiopian billionaire, Mohammed Hussein Al Amoudi, in 2013 by over $2.6 billion to become the world's richest person of African origin. Next to Dangote is Dr. Mike Adenuga, who sits atop investments in telecommunication and oil sectors. Forbes put Adenuga's

net worth at $4.2 billion and ranked him the 393th richest person in the world. Other Nigerians who made the Forbes’ ranking list are Mrs. Folorunso Alakija, whose net worth is put at $2 billion and her money made from oil; Chief Executive Officer, Forte Oil Plc, Mr. Femi Otedola, who is worth $1 billion and Alhaji Abdulsamad Rabiu, with interest in commodities such as cement, sugar and flour

whose wealth is put at $1 billion. However, despite plunging oil prices and a weakened euro, the ranks of the world’s wealthiest defied global economic turmoil and expanded yet again. For its 29th annual guide to the globe’s richest, Forbes found 1,826 billionaires with an aggregate net worth of $7.05 trillion, up from $6.4 trillion a year ago. The total includes 290 newcomers, 71 of who hail

from China with youth are on the rise, as a record 46 among the ranks are under 40. According to Forbes, the average net worth of list members came in at $3.86 billion, down $60 million from 2014. Globally, Bill Gates is once again the richest person on the planet, a title he’s held for 16 of the past 21 years. His fortune grew $3.2 billion since last year to $79.2 billion, despite a gift

of $1.5 billion in Microsoft 0.47 per cent shares to The Bill & Melinda Gates Foundation in November 2014. Carlos Slim Helu of Mexico remained the second richest person in the world while revered American investor, Warren Buffett, took back the third spot from Spain’s Amancio Ortega, now fourth world’s richest. Also, Facebook’s Mark Zuckerberg moves up five spots to number 16, his

first time ranking among the world’s 20 richest. Ma and three other Chinese are among the biggest gainers and appear among the 50 richest on the list. Zuckerberg is also the leader in a youth revolution that has minted 46 billionaires under the age of 40. The youngest billionaire on the planet is Evan Spiegel, 24, co-founder of photo- messaging app, Snapchat.

L-R: Head, Workflow Automation and Enterprise Integration, UBA Plc, Onyebuchi Akosa; Founder, Afrikazi, organisers of the Social Media Week, Ngozi Odita and Divisional Head, Information Technology Business Solutions and Automation, UBA Plc, Olugbenga Osofisan, at the just-concluded Social Media Week, supported by the bank in Lagos...at the weekend.

Fuel scarcity: PDP blames APC for ugly situation CONTINUED FROM PAGE 2

In Osun State, many filing stations hoarded fuel, resulting in long queues across the states in places where the product was available. The product was being sold at between N100 and N110 per litre. The situation was not different in Imo State despite a meeting between the leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Imo State chapter and officials of the state government, Department of State Security (DSS), Department of Petroleum Resources (DPR) and Imo State Police Command to force down the price of petrol. The fuel marketers had resisted efforts to make them sell at N87 per litre, saying they procured fuel at N90 per litre. Therefore, many of the filling stations were selling fuel at between N105 and N110 per litre, especially in the Mbaise and Obowo areas of the state. In Kogi State, black market operators have also

cashed in on the scarcity to exploit people. Virtually all the fuel stations in Lokoja, the state capital, were shut down, while three to four stations dispensed fuel with different prices between N87 and N110 per litre. The fuel situation in Abia State was not much different from other parts of the country. It was gathered that some of the independent marketers that had the product in Umuahia, the state capital, were selling at N105 per litre. Panic has gripped residents of Delta State as the fuel scarcity has spread to the state. Many of the filling stations in Asaba, the state capital, had no fuel. The fuel scarcity also persisted in Abuja as motorists were on the queue for hours at filling stations in search of petrol. The few commercial vehicles that were plying the road jacked up their fares by 50 per cent. However, the PPPRA yesterday urged Nigerians

to exercise patience just as it blamed banks and the devaluation of the naira for the scarcity. Farouk said yesterday in Abuja during the inspection of some filling stations that banks were reluctant to issue letters of credit to marketers to import fuel, leading to the depletion of the nation's stock. He added that the situation was compounded by the naira devaluation, which brought some confusion into system. According to him, about a billion litres of petrol is being expected to ease the scarcity. He expressed optimism that by the end of the week, the situation would have normalised. The Director, Department of Petroleum Resources, Mr. George Osahon, also said they were on the inspection visit to discourage filling stations from hoarding fuel. On his part, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Joseph Dawah, said the

fuel crisis would soon be over as efforts were being made to address the situation. The PDP and the APC, however, locked horns over the fuel crisis. PDP National Chairman, Alhaji Adamu Mu’azu and Director, Media and Publicity of the PDP Presidential Campaign Organisation, Chief Femi Fani-Kayode, blamed the opposition for fuel scarcity. Mu’azu, in a series of tweets on his official Twitter page, said the opposition leaders and some vested interests were behind the fuel scarcity. But he did not mention the names of the opposition leaders. According to him, the fuel scarcity was engineered to undermine Jonathan ahead of the March 28 presidential election. He said all plans to tarnish the image of Jonathan would not work. “Concerned Nigerians have drawn our attention to the fact that some oppo-

sition leaders and vested interest are behind hoarding of fuel. “Concerned Nigerians also drew our attention to plans by those who control the South-West disco to sabotage electricity in the zone. “We assure Nigerians, they will fail. All their plans to tarnish the image of government will fail like all other previous attempts. We want to assure concerned Nigerians, especially all of you here on social media, that we will reverse this trend soonest,” he tweeted. Fani-Kayode, in a statement, accused the APC of instigating the fuel marketers to frustrate supplies of petrol to fuel stations as part of a grand plan to create tension in the polity. “We know who the fuel marketers are. We know the relationship that exists between one of the biggest fuel marketers and a national leader of the APC. These unconscionable opposition elements infiltrated the ranks of the

fuel marketers, whom they have contracted, in a calculated attempt to frustrate the good efforts of government," he said. But APC described as unfortunate the allegation by the PDP over the fuel scarcity. Its spokesman, Alhaji Lai Mohammed, said: “It is totally unconscionable, and indeed an admission of failure, for a sitting government and ruling party to blame the opposition for their failings. These guys have simply abdicated their responsibility to the people. They can as well throw in the towel and head home. “The questions to ask are: who runs the NNPC? Who pays subsidy to fuel marketers? Who has used federal resources to bribe individuals and groups to such a level that there is no money to run the government, not to talk of paying subsidies? “The moment a ruling party starts transferring its responsibilities to the opposition, it is clear that the market is over.”

News

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

Troops clear another Yobe town of Boko Haram CONTINUED FROM PAGE 1

number of the terrorists. He said: “The insurgents who came at about 6:45a.m. in their hundreds, tried to invade the town but were successfully repelled by the troops of the Nigerian Army.” A member of Civilian JTF, Garba Labo, confirmed the incident. He said the gallant soldiers killed the terrorists who attempted to invade the town. “In the recent times, the terrorists were having a tough fight from the Nigerian military assisted by multinational forces. That is why the fleeing ones are trying to wreak havoc on innocent citizens to announce their presence,” he stated. Also, the military has re-opened the Baga, Monguno roads to allow people return to their villages after the liberation of the areas from the grip of Boko Haram. Meanwhile, the Defence Headquarters (DHQ) has announced the liberation of KukawaGeri town in Gujba Local Government Area of Yobe State, after troops on counter-terrorism operation flushed Boko Haram out of the

area. The latest development is part of ongoing military operations in the NorthEast, to rout insurgents, and prepare the ground for voters in the zone to participate in the March 28 and April 11 elections. Boko Haram is said to have killed over 12, 000 people since 2009, when the group began its bloodletting campaign against the state. Announcing the recapture of KukawaGeri via the DHQ's twitter handle yesterday, the Director of Defence Information (DDI), Major General

Chris Olukolade, said: "Troops are dominating operation in KukawaGeri, Gujba in Yobe. Rid of terrorists on Sunday. Cordon and search ongoing there now." This brings to 31 the total number of territories retaken, as disclosed in official quarters. However, there were apprehensions in Gombi, Adamawa State, as residents sighted hovercraft depositing bombs in nearby bushes, security and local sources confirmed. Residents became suspicious of the hovercraft as it kept encircling the

town for a very long time which made them to become alert and monitor the hovercraft with keen attention as pandemonium ensued. “We began to run for our lives, for fear of uncertainty, some have started fleeing the town,” said Habu Yahaya, a local resident. “After a long time encircling the town, the hovercraft finally deposited weapons suspected to be bombs behind the Gombi hills,” Yahaya noted. Already local hunters and Civilian JTF have mounted surveillance on

the area following suspicion that the weapons might have been deposited for ulterior motives. Reports also indicate that local hunters have in the early hours of Monday killed a suspected suicide bomber who was trying to launch an attack on a Mosque at Tashar Marghi area of the town. “Early hours of Monday during the dawn prayers, a suicide bomber carrying two explosives have been shot and killed. “The development has reignited tension in the area following the suspected bombs deposited

behind the Walawa hills by military hovercraft,” a local hunter who simply identified himself as Bello confirmed in a telephone interview. When contacted, the state Police Public Relations Officer, DSP Othman Abubakar, said the bombs in questions have expired. “Yes military authorities have confirmed to us, that the bombs have expired so people should not be scared,” he said. On the killing of the suspected bomber, Othman said the DPO of the area has confirmed the development to him.

TODAY’S WEATHER FORECAST LAGOS

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PORT HARCOURT

28o C 18oC Thunder Storms

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MAIDUGURI

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L-R: United States Consulate General, Political-Economic Chief, Tom Hines; US Consul General, Lagos, Mr. Jeff Hawkins; Ogun State Governor, Senator Ibikunle Amosun, and US Political Officer, Erica Chiusano, during a visit to the governor in Abeokuta...yesterday.

Banks face hurdles in raising capital CONTINUED FROM PAGE 1

sets that banks could count as capital in preparation for the implementation of Basel II and III, while limiting Tier 2 capital to 33 per cent of Tier 1 capital. Similarly, the regulator kept minimum capital requirements for lenders with operations outside the country at 15 per cent and at 10 per cent for those with interests only in Nigeria. Besides, the impact of the oil price slump on the nation’s economy and the uncertainty over the forthcoming general elections are also taking their toll on the capital market. The prices of oil that have fallen by 50 per cent since last June at the international market have weakened the naira, which has also depreciated by more than 20 per cent in the past three months, making it increasingly difficult for banks that had borrowed foreign denominated debts

to service their loans. Consequently, the lenders, which have also been facing challenges in meeting their foreign currency obligations, have had to restructure these transactions. The CBN had earlier directed eight banks it designated too big to fail to boost their minimum capital ratios to 16 per cent. According to a top CBN source, 12 out of the 24 banks in the country urgently need to raise fresh capital to meet the CBN directives. The move to raise fresh funds has triggered a rash of capital raising by banks in the last 18 months and with the CBN deadline for compliance set to lapse in the next few months, the pace of fund raising by the banks is expected to increase. However, investigations by New Telegraph revealed that because of the downturn in the market, banks

that had earlier hinted that they would be seeking fresh capital in the first quarter of this year have put such plans on hold while those that were already in the market have had to reduce the issue price of their rights issue. For instance, United Bank for Africa Plc (UBA), which was recently in the market with a N13 billion rights issue, had to reduce the issue price from N4.00 to N3.50. Similarly, Access Bank had to review its ongoing N52.6 billion rights issue downwards from N8.90 to N6.90 per share even though the current price of its shares at the Nigerian Stock exchange (NSE) was N6.50 per share as at yesterday. The managing director of a new generation bank, who did want his name in print, said it would be tough for banks to raise equity capital at the moment, expressing fears that the rights issues of banks that

were courageous enough to come to the market at this time could be undersubscribed. He said: “The current challenges that the country is facing – from insecurity to uncertainty about the elections and the oil price slump and, particularly the chain of CBN directives compelling banks to raise fresh funds, make it difficult for people to make more investments given the expected returns of investments. The way I see it, the only way that any bank that comes to the market at this time can have a successful outing is if it already has pre-sale commitment from some of its big shareholders.” Also, the Nigerian representative of the Institute of Certified Forensic Accountants, Dr. Richard Mayungbe, told the New Telegraph that banks should shun the capital market for now and look elsewhere for funds.

He said: “The country’s economy is tied to oil and for as long as oil prices are down, the market will continue to experience a downturn. We can all see what is happening to the naira. I don’t want to sound like a prophet of doom, but I will predict that any bank that comes out with a rights issue at this time will discover that it will be undersubscribed.” A source at the CBN said that the regulator was monitoring the situation and could announce new measures to boost banks’ capital raising efforts. In its 2015 outlook, FBN Capital said Nigerian banks were going through probably the most challenging period since the credit crisis of 2008-2009. The oil price slump, apart from leading to the devaluation of the naira and depletion of the country’s foreign reserves, has negatively impacted the stock market.

NEW TELEGRAPH tuesday, march 3, 2015

News

national

Lawyer sues minister, others over NIMASA, NPA funds Bayo Akomolafe

senior maritime lawyer, Mr. Mike Igbokwe (SAN), has instituted a legal action against the directive issued by the Minister of Finance, Dr. Ngozi Okonjo-Iweala that maritime agencies should close all their revenue accounts in different money deposit banks across the country and beyond. The affected agencies are the Nigerian Maritime Administration and Safety Agency (NI-

MASA), Nigerian Ports Authority (NPA) and the National Inland Waterways Authority (NIWA). The minister had also asked them to pay the internally generated revenue accruing to them or funds statutorily-provided for into the Consolidated Revenue Fund (CRF) at the Central Bank of Nigeria and to transfer same into the Treasury Single Account (TSA) on or before February 28, 2015. Acting on behalf of an indigenous shipping company, Elshcon Nige-

ria Limited, Igbokwe said that the directive, by the Minister of Finance, to all government agencies should have excluded NIMASA, NPA and NIWA in line with their enabling laws. The suit number FHC/L/CS/201/15, which is before Justice Ibrahim Buba, has brought the Attorney-General of the Federation, the AccountGeneral of the Federation and the Minister of Finance as defendants.

The plaintiff is seeking six reliefs, which include an order directing the defendants to stop forthwith, the implementation or further compliance with, the directives. Already, Justice Buba had directed that the plaintiff should serve the defendants with the motion and notice for interlocutory injunction and originating summons. It also granted an accelerated hearing of both the motion on notice and

the originating summons and adjourned the case to Thursday 5th March 2015. The lawyer said that he had written to NIMASA, NPA and NIWA advising them not to take any action or do anything, with respect to or in furtherance of the implementation of or compliance with, the Federal Government directives pending the determination of the matter by the court so as not to “stifle or have the potential effect of stifling the exercise by

the court of its undoubted jurisdiction on our client’s pending motion on notice for interlocutory injunction and originating summons thereby destroying the subject-matter of the litigation before the motion on notice and originating summons are heard and determined as such would amount to an abuse of court process and acts that courts frown at and that our client would be compelled to move the court to set aside.”

Court affirms Ugwuanyi as Enugu PDP guber candidate Tunde Oyesina Abuja

Federal High Court sitting in Abuja yesterday dismissed a suit filed by Senator Ayogu Eze challenging the emergence of Ifeanyi Ugwuanyi as the governorship candidate of the Peoples Democratic Party, PDP for Enugu State in the forthcoming general elections. Eze had approached the court via a suit marked FHC/ABJ/CS/2014 challenging the nomination and submission of Ugwuanyi's name to the Independent National Electoral Commission, INEC, as the PDP governorship candidate. Joined as defendants are the PDP, its National Chairman, Adamu Mu'azu and the Independent National Electoral Commission, INEC. Ugwuanyi, however, sought joinder and was consequently joined by

the court. Both Eze and Ugwuanyi had laid claim to the governorship ticket of the party in Enugu State, having emerged from two parallel primary elections that was held on December 8, 2014. Delivering judgement in the suit, the trial judge, Justice Evoh Chukwu held that from the averrments made, it was only one governorship primary election that was conducted in Enugu State on December 8, under the watchful eyes of the national officers of the PDP. He further held that the plaintiff's suit did not succeed as he failed to show how any section of the constitution or the Electoral Act as well as PDP guidelines for the conduct of gubernatorial primary election was breached or violated. The court had earlier dismissed the preliminary objections challenging the jurisdiction of the court to entertain the matter.

Namibia’s president wins Mo Ibrahim award

amibia's outgoing president, Hifikepunye Pohamba, has won the Mo Ibrahim Foundation's $5 million African leadership prize, an award meant to recognise good governance that has been presented only three times in eight years. Since it was set up by the Sudanese telecom tycoon in 2007, the prize has gone to three former presidents from Cape Verde, Mozambique and Botswana. In other years, no one was found to have met the criteria. To win the prize, a leader must have been democratically elected and have left office in the last three years, serving only their constitutionally mandated term. The winner must also have displayed "exceptional

leadership". Although elections have now become common on a continent once better known for military coups and instability, some leaders have stayed in office long after their original mandate, often pushing through constitutional changes to hold to power. Announcing the award in Nairobi, the Mo Ibrahim committee praised Pohamba's commitment to the rule of law and his respect for the constitution, as well as his promotion of gender equality. Pohamba, 79, was first elected president in 2005 and is due to step down this month. The elections held under his leadership were considered by observers to be free and fair.

L-R: Minister of Finance, Dr. (Mrs.) Ngozi Okonjo-Iweala; Minister of Works, Mr. Mike Onolememen and Director General, National Orientation Agency (NOA), Mr. Mike Omeri, at a stakeholders' conversation on communicating government policies, programmes and activities in Abuja…yesterday. PHOTO: ELIJAH OLALUYI

Jonathan offers automatic employment to 164 NYSC award winners Anule Emmanuel

resident Goodluck Jonathan has announced automatic employment for all 164 award winners of the 2012, 2013 and 2014 batches of the National Youth Service Corps (NYSC). The President announced this at the 2014 presidential award honours for NYSC which held at the Banquet hall of the Presidential Villa Abuja. He said that those still unemployed by the various state governments and the private sector will be absorbed in the Federal

Civil Service. The youth corps members were said to have been selected from the three batches based on their outstanding performances during their service years. Speaking at the colourful ceremony, Jonathan also announced automatic scholarship for any of the 164 awardees who wants to further his or her education within and outside the country. President Jonathan disclosed that a total of N23.5 million would be released for nine corps members, who became physically

VAPP Bill will attract investors to Nigeria — Mark Chukwu David Abuja

he President of the Senate, Senator David Mark, yesterday asserted that the passage of the Violence Against Persons Prohibition Bill, (VAPP) into law would help boost the nation's socio-economic development by attracting investors to the country. This was as the Federal Government urged the National Assembly to pass the

bill expeditiously in order to curb the menacing incidences of violence against women, children and other vulnerable persons in Nigeria. The President of the Senate, who was represented by the Chairman, Senate Committee on Rules and Business, Senator Ita Enang, noted that the bills were very important and would go a long way to addressing some of the ills in the society when passed into law.

challenged during their service year, under the NYSC Hope Alive programme. They had varying degrees of permanent disabilities ranging from amputated arms to amputated legs and disfigured bodies from different accidents. A private firm, Ibeto Group donated N5 million to one of the nine injured corps members, who could not attend the event because of her injury. Governor Godswill Akpabio of Akwa Ibom State also announced a donation of N5 million to the nine corps members while

Heritage Bank donated N1.5 million to each of the nine NYSC members. Three best overall female corps members, one from each of the three batches, also received plaques and cash reward from the National Council of Women Society. President Jonathan had said that "Once again, I congratulate all awardees on your well merited recognition and honour. The entire nation salutes the determination, courage, discipline, commitment and hard work, which you all exhibited during the service year."

APA presidential candidate promises to fight B/Haram, militants Adesina Wahab Ado-Ekiti

he insecurity problem in the country, occasioned by the activities of insurgents and militants in some parts of the country, will be stamped out within the shortest possible time if the presidential candidate of the African People's Alliance (APA), Alhaji Musa Ayeni, is voted into office in this month's poll.

Also, the non-diversification of the nation's economy, which makes the nation to suffer when there is a crash in the international oil market, will become a thing of the past. Addressing journalists in Ado-Ekiti yesterday, Ayeni, a former deputy governor of the old Ondo State during the military era, said insurgency and militancy were fuelled by injustice, and promised to redress the situation.

News

national

Atuche, others know fate in N25.7bn fraud April 13 Akeem Nafiu

ustice Lateef LawalAkapo of an Ikeja High Court will on April 13, rule on an application filed by a former Managing Director of the defunct Bank PHB, Francis Atuche, seeking to quash the N25.7 billion theft charge preferred against him by the Economic and Financial Crimes Commission (EFCC). The judge fixed the date after hearing arguments from both the defence and prosecution lawyers. Atuche, his wife, Elizabeth and a former Chief Financial Officer of Bank

PHB, Ugo Anyanwu, were charged to court by the EFCC for allegedly stealing the money from the bank. Arguing the application yesterday, Atuche’s lawyer, Tayo Oyetibo (SAN), urged the court to quash the charge against his client for want of jurisdiction. He said the application was premised on a judgement delivered by the Court of Appeal, Lagos Division on November 21, 2014, in which theft charges preferred against a former Managing Director of Finbank Plc, Okey Nwosu and others, was struck out.

Court to Arepo vandals: You have a case to answer Akeem Nafiu

ustice Okon Abang of a Federal High Court in Lagos yesterday dismissed a no-case submission filed by 20 suspected pipeline vandals who allegedly killed nine policemen in Arepo area of Ikorodu on May 24, 2014. It will be recalled that the suspected vandals had filed a no-case submission asking the court to set them free on the strength of the ar-

gument that the police had failed to establish a prima facie case against them. Justice Abang had granted leave to the defence to file a no-case application after foreclosing the prosecution's case on October 20, 2014, for want of diligent prosecution. Dissatisfied with the ruling, the police had appealed same and asked for stay of proceedings before the trial court.

tuesday, march 3, 2015 NEW TELEGRAPH

Rights activist seeks court’s leave to amend claims against NCC poor service Lagos lawyer continues fight against exhorbitant call rates in court Akeem Nafiu

Lagos-based lawyer and human rights activist, Ebun-Olu Adegboruwa, has asked Justice Okon Abang of a Federal High Court in Lagos to allow him amend the suit he filed in 2002 against the Nigerian Communications Commission (NCC) and three others over alleged charging of exorbitant call rates. Apart from NCC, the other defendants in the suit are the Nigeria Telecommunications Plc,

MTN Nigeria Communications Limited and Econet Wireless Nigeria Limited. It will be recalled that Adegboruwa and two others, Dr. Tuyi Mebawondu and Saibu Akangbe, had in 2002, accused the NCC of failing in its statutory duty of checking the activities of telecommunications companies leading to charging of excessive or exhorbitant rates on telephone calls. The plaintiffs, in the suit, are asking the court to order NCC to rise up to its statutory duty of regulating the activities of telecom service providers in the country to prevent them from exploiting Nigerians through high call rates. They were specifically praying the court to make an order “cancelling and invalidating the N12 per

call per minute interconnectivity charge of NITEL and the N2.50 per call per minute rate of the NCC, which combined to inflate the call tariff payable by Nigerians on the GSM network provided by NITEL, MTN and ECONET.” They also sought a declaration of the court that the fee of N50 and N22 call rate per minute, which NCC permitted the telecommunications companies to impose on Nigerians as call tariffs on their GSM was oppressive, exorbitant and contrary to the laws regulating telecommunications services and generally at variance with the economic trend prevailing in Nigeria. However, in a fresh application for the amendment of the suit, a lawyer from Adegboruwa's office, Gbenga Awoseye, informed the court that dur-

ing a recent review of the case file in his office, he discovered that “there is a need to amend the statement of claim in order to bring all the facts in dispute between the parties to the knowledge of the honourable court.” In an affidavit in support of the proposed amended statement of claims deposed to by one, Oladapo Sofola, it was disclosed that the amended process was to assist the court “in complete and effectual determination of the issues in dispute.” In the proposed amended statement of claims, the plaintiffs maintained that the services being rendered by the telecommunication companies on their GSM was generally unreliable, inefficient and substandard and did not merit the call tariffs being charged Nigerians.

MDAs’ restructuring: Civil society coalition petitions N’Assembly Abdulwahab Isa Abuja

coalition of civil society groups is protesting the move by the executive arm of government to scrap the Fiscal Responsibility Commission (FRC) and 12 other agencies, parastatals and commissions without the National Assembly’s approval, a decision it said usurps the power of the National Assembly. In a petition dated February 2, 2015 addressed to the President of the Senate, a copy of which obtained yester-

day by New Telegraph, the coalition made up of 25 bodies, said it had uncovered a letter dated November 13, 2014 from the Secretary to the Government of the Federation (SGF) addressed to the Coordinating Minister for the Economy (CME), therein which the finance minister was instructed to ensure that agencies, parastatals and commissions such as the Fiscal Responsibility Commission (FRC) and 12 others are delisted from receiving government funding with effect from the 2015 appropriation.

Ekweremadu urges pilgrims to pray for peaceful polls Chukwu David Abuja

eputy Senate President, Senator Ike Ekweremadu, yesterday enjoined Christians participating in the 2015 Easter pilgrimage to Jerusalem to pray for the peaceful conduct of the 2015 general election.

This was just as he also charged them to pray for the total fall of the Boko Haram insurgency while in the holy land. Ekweremadu gave this admonition at the flag-off ceremony of the 2015 Easter pilgrimage to Israel, Greece and Rome at the Akanu Ibiam International Airport, Enugu, on Sunday evening.

L-R: National Treasurer, National Union of Textile Garment and Tailoring Workers, Comrade John Adaji; Vice-President, Nigeria Labour Congress (NLC), Comrade Issa Aremu and General Secretary, National Union of Textile Garment and Tailoring Workers, Comrade Sylvester Chimeze, during a press conference on the forthcoming general election in Kaduna…yesterday

Kalu: No country abandons its leader

minent businessman and former Governor of Abia State, Dr. Orji Kalu, has appealed to Nigerians to remain calm in spite of the postponement of the general election. He made the remark while hosting African students of the Royal Military Academy, Sandhurst (RMAS) from Guinea, Sierre Leone, Liberia and Mauritius, to a breakfast session at his London residence on Sunday. The former governor said the terrorism facing Nigeria should be seen as a collective challenge to the African continent. According to him, “Nigeria is at war with Boko Haram and no country in the history of the world abandons its Commander-

in-Chief in times of war.” President Goodluck Jonathan has taken the bull by the horns and deserves the support of Nigerians irrespective of political, religious and ethnic differences to stop insurgency.” He said: “Despite the insurgency facing Nigeria, we have a number of reasons to appreciate and support the transformation agenda of President Goodluck Jonathan. With the support of Western countries like the United Kingdom and the United States and other neighbouring African countries, Boko Haram has been curtailed. “All hands must be on deck to complement efforts of the Nigerian armed forces and other security agencies in the

aggressive fight against insurgency. “The recent visit of Mr. President to Baga, Mubi and Vintim, is a clear indication of the renewed political will to ensure security and peace" in the country,” he added. On the coming general election, Kalu, who condemned the use of provocative words in the name of electioneering campaign, called on President Jonathan and General Muhammadu Buhari to caution their lieutenants not to heighten the tension in the country. He said: “We must imbibe the spirit of patriotism during and after the polls. I urge Nigerians to come out en masse to vote for President Jonathan for the consolidation of dem-

ocratic gains.” According to Kalu, the Peoples Democratic Party (PDP) remains the most acceptable political party in Nigeria for its transformative projects such as the railway system and the overhaul of the airports, youth employment and infrastructural regeneration, being executed by the current administration. The former governor, who described ex-President Olusegun Obasanjo as a courageous and strongwilled leader, urged him to adopt other channels of communicating his concerns on national issues to President Jonathan, adding that attacks on Mr. President on the pages of newspapers are uncalled for and unpatriotic.

NEW TELEGRAPH tuesday, march 3, 2015

News

national

Insurgency:Senator commends Jonathan, military Wale Elegbede

equel to the success recorded by the military against insurgents in the North Eastern part of Nigeria, the lawmaker representing Imo West, Senator Hope Uzordinma, has commended the efforts of President Goodluck Jonathan and the military, saying that the exploits should evoke a sense of patriotism and nationalism among Nigerians. In a signed message to Nigerians, Uzodinmma said the development was a demonstration that if Nigerians remained steadfast and focused with a singleness of purpose, the country was quite capable of surmounting any obstacle. He said: “It is indeed heart warming that even the worst critics of the Jonathan administration and the PDP have acknowledged the recent

successes recorded by the military in that regard. “The tremendous success recorded by the military in the last couple of weeks is actually a vindication of the administration of President Goodluck Jonathan and the ruling Peoples Democratic Party, which have all this while asked Nigerians to be patience with the military and give it the needed support. “Let me, therefore, urge all Nigerians, irrespective of partisan proclivities, to see these recent developments as an opportunity to stop the unwarranted vilification of both the military and the administration, and instead cultivate an attitude for boosting the morale of the military personnel involved in the combat and as well give the necessary support to the Federal Government in this effort to restore the collective dignity of all Nigerians.”

APC accuses PDP of faking rally attack Emmanuel Masha Port Harcourt

he Greater Together Campaign Organisation (GTCO) of Dakuku Peterside, the Rivers State governorship candidate of the All Progressives Congress (APC) has alleged that the Peoples Democratic Party (PDP) stage-managed the attack that led to the death of one person during the campaign of Barr. Nyesom Wike in Bakana at the weekend. The team's Director of Communications, Mrs. Ibim Semenitari, also distanced Peterside from the attack, noting that PDP's allegation against him as the

attack's mastermind was nothing other than a lie. It will be recalled that gunmen stormed the venue of Wike's rally in Bakana, and opened fire, shortly after he left with hundreds of supporters, making the leadership of the PDP to allege that Peterside and the Rt. Hon. Otelemabama Amachree, Speaker, Rivers State House of Assembly were responsible for the attack. But Semenitari, while dismissing the allegation, said: “This tissue of lies and libellous provocation is wicked and callous, and should be disregarded. PDP couldn’t be visiting gross violence on Rivers State and her people only to turn back and pass the bulk.

Kainji: Solar, wind to add 25kw to national grid Johnchuks Onuanyim Abuja

he Minister of Power, Prof Chinedu Nebo, has stated that the Hybrid Solar and Wind Demonstration Plant in Kainji, Niger State recently commissioned would add 25kilowatts (kw) of electricity to the national grid. Nebo also revealed that the solar/wind demonstration plant is not only going to generate electricity, it will be the main training centre for solar and wind technology in Nigeria. Represented by the

Permanent Secretary, Dr. Godknows Igali, the Minister maintained that there were efforts to expand the energy mix due to gas pipeline vandalism that is affecting the capacity of thermal power plants. He said, "This project is to demonstrate that wind energy is possible and that combining wind and solar technology to generate energy is possible. "Projects like this will give the vandals no opportunity because it is at the site and the energy is fed into the grid for consumption directly. So, vandals cannot go and destroy it," he explained.

L-R: Chief Commercial Officer, Airtel Nigeria, Maurice Newa; winner Airtel TRACE Music Star, Onajite Okotete; Managing Director, TRACE, Sam Onyemelukwe and Chief Sales Officer, Airtel Nigeria, Godfrey Efeurhobo, at the final presentation of Airtel Trace Music Star in Lagos

Jonathan, Buhari are illegitimate candidates — NCP presidential candidate Temitope Ogunbanke and Wale Elegbede

head of the March 28 Presidential election, the candidate of the National Conscience Party (NCP), Mr. Martins Onovo, has expressed confidence of winning the election, saying that the candidates of the Peoples Democratic Party (PDP), President Goodluck Jonathan and the All Progressives Congress (APC), Major General Muhammadu Buhari, are illegitimate candidates. Onovo, during a visit to New Telegraph Head Office in Lagos yesterday,

said that in a free and fair election, NCP will win because the party is the oldest party in Nigeria and they are presenting the best candidate for the presidential election. His words: “NCP will win the presidential election if the election is free and fair because I am confident that Nigerians will vote for NCP. I am of the view that both the PDP and APC are parading illegitimate candidates. “One candidate has certificate dispute and he is also involved in perjury because he swore that his certificates were with the Army but Army has came out that they don’t have

Osinbajo: No sacred cow in anti-graft war Temitope Ogunbanke

he presidential running mate of the All Progressive Congress (APC), Prof. Yemi Osinbajo, has given assurance that there will be no sacred cow in the fight against corruption in Nigeria if the opposition party wins the March 28 presidential election. Speaking at an interactive session with youths in Lagos, Osinbajo, who attributed Nigeria’s major problem to corruption, said under the APC-led Federal Government, corrupt offenders would not go unpunished no matter how highly placed or influential they are in the country. He said the APC government will ensure that all government officials and agencies are

transparent, adding that stealing of government funds and lack of accountability would not be condoned as all agencies would be completely transparent. The vice presidential candidate said that another four years of the Peoples Democratic Party (PDP) at the helms of affairs will be a terrible option. His words: “Under APC government there will be consequence for corruption. The reason why people steal government funds today is because there is no consequence and that will be very clear in an APC government. We are prepared to enforce the law, especially the law that deals with corruption; offender won't go unpunished no matter how highly placed or influential in the country.

the certificate. The other candidate with impunity went to raise N21billion, which clearly from all indications, is against the Electoral Law. They have violated the law and that is why both of them are illegitimate candidates.” On his plan for Nigeria, the NCP presidential candidate promised to provide security, confront corruption, change the failed leaders, deliver world class education, improve agriculture, provide productive employment and increase minimum wage by decreasing maximum wage. Speaking on reports that INEC chairman, Prof Attahiru Jega, may

be sacked before the general election, Onovo said that the failure by Jega-led INEC to provide PVCs to registered voters, who are ready to collect their PVCs was a great indictment on the commission. He also warned that any plan to postpone the general elections April 11 may lead to constitutional crisis in the country. Stressing the need for credible elections in Nigeria, Onovo challenged Nigerians to rise against cabals in the country and ensure that they defend their votes to sustain Nigeria democracy, adding that; “Once Nigerians decide good leadership, they will have it.”

Group commends Yoruba leaders for endorsing Jonathan

pro-democracy group, Move on Nigeria (MON), has commended Yoruba leaders, Afenifere and the Oodua People’s Congress (OPC) for endorsing the re-election bid of President Goodluck Jonathan. The group’s National Coordinator, Clem Aguiyi, regretted that former Governor Bola Tinubu has become a huge burden to the Yoruba nation by misleading the people and reducing ‘Awoism’ to mere sloganeering. It noted that the elders have redeemed the image of the Yoruba nation as people who are truly progressive and believe in social justice. “When scores are finally taken, the Yoruba leaders will emerge as real heroes of our democracy. The group urged the younger generations to listen to the voice of the elders because the elders

will not mislead them. We praise the courage of the elders who for the sake of posterity took a patriotic stand for the love of the people and the nation knowing they have nothing to lose standing by the truth,” Aguiyi said. The group said Pa Awolowo in his grave will feel fulfilled because the stand of the elders is the same stand he would have taken if he is still alive. “Pa Awolowo wouldn’t have accepted slavery and injustice of any form because he is a man of equity and courage,” he said. The group praised the Yoruba elders for insisting on the full implementation of the confab report as a condition for their support to the president. He said: “The confab report as agreed by Nigerians is very important to the Yoruba nation and the rest of Nigeria.

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

Metro

Why I removed my friend’s intestines, by Islamic cleric

Aderounmu

CONFESSION

John Edu

A 27-year-old man confesses n Islamic cleric, Fatai how he and other clerics Aderounmu, 27, has dissected his friend’s body, told the police why he removed his intestines and and others removed the dumped the body in a river intestines of a dead man before

dumping his body in the river. The man, now in police custody, said the victim identified as Rafiu, was his friend. He said Rafiu’s death was caused by a human error, contrary to police allegation that the victim was murdered in cold blood and that his body parts were shared among other Islamic clerics. Aderounmu said that he prepared a concoction for the deceased, which was supposed to make him a successful crane driver. The suspect said that he did not know that one of the chemicals in the concoction was too much, until Rafiu started complaining of stomach ache, slept and died. According to him, when he realised that Rafiu was dead, he became afraid. He told colleagues in the area and they convinced him to dump the body into the river to avoid detention. Aderounmu added that the clerics further assisted him in dissecting the body by removing the intestines. He said: “We only removed the intestines to stop the body from swelling, bursting and

smelling. We did not leave that place with the intestines. We left it there.” The suspect said he regretted his actions, adding that if he had known the situation would turn out the way it did, he would have alerted the police. He explained that he met the late Rafiu at a park at Morogbo, Okomaiko, Lagos State. According to him, the man later paid his bus fare after they boarded the same vehicle. He said: “I introduced myself to him as an alfa (an Islamic cleric) and also a traditional medicine man. He told me that he would like me to be assisting him to make concoction which would help him succeed in his work as a crane driver. “On February 10, Rafiu called and paid me N2,000 in advance. He said I should help him make some charms, which I did. “But I did not know a certain chemical was too much in the mixture. On February 13, which was a Friday, Rafiu came for the mixture. He said

he was very hungry. I gave him food. I actually bought the food for him. After he finished eating, he drank the mixture. He went to sleep. He started feeling sickly and decided to spend the night in my house. But a few minutes later, I noticed he was no longer breathing.” Aderounmu said he called the attention of other Islamic clerics in the area. He added: “Four of the clerics went with me. They advised that the body should be thrown into the river to save my head. I cooperated with them. We carried him to the nearby forest, removed all his intestines and dumped his body inside the river.” But, according to him, two days later, Rafiu’s wife called him, asking if he had seen her husband. Aderounmu denied seeing the deceased. He said: “The wife further went to ask another cleric close to my house. It was that man who told her that he saw me and Rafiu a few days ago. “Rafiu’s wife and family members reported the case to the police. I was arrested. But I never intended to kill Rafiu.”

Suspected killers of Accord Party members held We’ll reveal those behind Sango killings –LG chair Sola Adeyemo T

Ibadan

olice in Oyo State yesterday paraded suspected political thugs who allegedly killed two Accord Party (AP) members at Odinjo area of Ibadan on Sunday. The Director-General, Ladoja Campaign Organisation, Hon Adeolu Adeleke, had on Sunday evening alleged that during a rally organised by the Accord House of Representatives candidate, Gbenga Adewusi, at Odinjo, thugs from the All Progressives Congress (APC) swooped on the participants and fired sporadic shots at them. This, according to him, resulted in the death of the two people while 15 others sustained varying degrees of injury. But the state APC Publicity Director, Wale Sadare, denied the involvement of members of his

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

The suspects

party in the fight, saying that the thugs were loyal to Adewusi. The state Commissioner of Police, Muhammad Katsina, while parading the suspects at the state police command headquarters at Eleyele, Ibadan, yesterday, said that eight persons were arrested with sophisticated weapons believed to have been used in the attack. The commissioner gave the names of the suspects as Afeez Ishola, Olamide Ijaola, Sikiru Tunayese, Sunday Balogun, Lekan Ogeroju, Kazeem Ajibola, Kehinde Emiola and Musibau Akinola. He said: “The state police command, in its unrelenting effort to ensure an atmosphere devoid of political thugs in the state, on March 1, 2015, about 4.30pm, repelled and caught up with the thugs who attacked AP campaign in Ibadan. “The party held the campaign

without notifying the police. A group of thugs reportedly led by one Yusuf Ogeoju alias Ese Water attacked the rally, shooting sporadically into the crowd and resulting in the shooting of several persons. “One Kehinde Bello died on the spot while Sarafa Adedeji died at Ege Trado-Medical Centre. Nine others were left injured.” Katsina said the leader of the attackers, who had been on the police wanted list, sustained gunshot injury during confrontation with the police and later died in the hospital. He added: “Following the swift intervention, peace was restored in the area. One pump action rifle, three live cartridges and three expended cartridges were recovered from the group. Another notorious thug, Afeez Ishola aka Ifa, was arrested with a pump action rifle and three live cartridges.”

he Chairman, Ado Odo/Ota Local Government Area of Ogun State, Rotimi Rahmon, has promised to unravel the killers of four persons at Sango Motor Park. A 22-year old lady identified as Angela Abah and three others were allegedly killed by officers of the Nigeria Customs Service (NCS), Ikeja Federal Operations Unit (FOU) on Monday last week. The Customs officers were allegedly chasing rice smugglers at Sango Motor Park. The chairman, who spoke at the weekend, said he had also petitioned the NCS Comptroller-General, Abdulahi Dikko, over the alleged killing. Rahmon also bemoaned the rise in killings by Customs officers in the area. According to him, if there is no response from the Customs after the petition, the council and concerned stakeholders will give an ultimatum. He said: “After the expiration of the ultimatum, then we will begin to take other lawful and peaceful steps. We will not allow these killings to go just like the previous ones. This action of bringing the perpetrators to justice has become necessary in order to serve as a deterrent to trigger-happy security men and forestall future

occurrences. “On behalf of the families of the citizens who were cut down in their prime, we demand justice and adequate compensation for their respective families, and the settlement of the hospital bills of the injured by the Nigeria Customs Service. “Moreover, the killers of those who were extra-judicially killed by the Customs officials should be fished out and brought to book. The blood of the innocent citizens killed is crying for justice.” Rahmon noted that in modern age, it was expected that those who were saddled with the maintenance of law and order, peace and security must be scientific in their approach in the handling of firearms, especially in populated areas like markets and motor parks. He said: “For rice and such other banned items to have passed through about 50 checkpoints between Idiroko borders and Sango Motor Park, one is quick to ask where the supposedly Customs men and other security agencies were when these goods passed without being intercepted by one of them? Or is it that the smugglers concerned failed to grease their palms and that is the reason for this hot chase after them?”

Metro 11

NEW TELEGRAPH TUESDAY MARCH 3, 2015

Teenager blames evil spirit for rape of 52-year-old woman NSCDC Camillus Nnaji

16-year-old SS1 student, Abdulateef Asamu, has explained why he robbed and raped his neighbour, a 52-year-old woman. The boy, now in police custody, has blamed his actions on an evil spirit. According to the police, the incident happened at Lambe, a community in Ifo Local Government Area of Ogun State. It was gathered that Asamu broke into the woman’s house and threatened her with a weapon. He allegedly asked her to bring all the money in her possession. The woman was said to have brought out N16,500 but despite that, Asamu asked her to lie down. The suspect threatened the woman that his gang members were outside and were deter-

mined to kill her if she refused to cooperate. It was then the 16-year-old boy forcibly had carnal knowledge of her. Unknown to him, the woman recognised him as her neighbours’ teenage son. The next morning, she called her husband to tell him what had happened. Her husband then reported the case at the Ajuwon Police Station. Asamu was immediately arrested. During interrogation, Asamu blamed his action on an evil spirit. He said: “I am in SSS 1 at a high school in Ogun State. I live at Lambe area with my parents. I am the first child and I have three siblings. On January 18, 2015, about 1am, I went to my neighbour’s house to rob and rape. I never knew she recognised me. I have never carried out robbery before that day. I do not know what made me do it but I believe I was propelled by

Asamu

an evil spirit. “I entered the house through the main door which was usually not locked. The building was uncompleted. I met the woman sleeping. She was naked as she slept and the sight aroused me. “I woke her up and asked her to bring all the money she had. I was holding a rod and I told her that my gang members were

outside. I asked her to cooperate otherwise she would be dealt with. “She gave me N16,500, after which I ordered her to lie on the bed. I had sex with her. After about five minutes, I stood up and left for my house. “On the third day, the woman’s husband called me and warned me not to pass through his compound again as he wanted to sprinkle charms around his compound. I later saw policemen who were brought to arrest me. I confessed to my parents. I used N5,000 to buy a phone but it was not good so I returned it. I used the remaining to eat and entertain friends.” The state Police Public Relations Officer (PPRO),, Olumuyiwa Adejobi, confirmed the story. He said that as soon as the judicial workers in the state called off their strike, Asamu would be arraigned.

‘I packed N2m drugs inside music player’

Chidiebere

Juliana Francis

suspected drug trafficker has told officials of the National Drug Law Enforcement Agency (NDLEA) why he packed drugs

worth over N2 million inside his music player. The suspect, Nwachukwu Nwadi Victor 45, a factory worker in Brazil, was angry that despite all the pains he took in hiding the

drug, NDLEA operatives still discovered it. Victor, who was among four persons arrested by NDLEA, said he would have made 300 per cent profit if he had been able to get the drugs to his destination. Victor said he bought the drugs for $10,000 in Brazil. He said: “I had family problem in Nigeria to settle so I decided to buy cocaine with $10,000. I would have made over 300 per cent profit if I had succeeded in bringing the drugs. The drug was packed inside a music player, yet the officers detected it.” The other three suspects are Okafor Chidinnma Deborah, 30, Utobo Prince Davies Chidiebere, 33, and Celestine Okoye Ugochukwu, 40. Deborah, a professional dancer and Chidiebere were arrested on their way to Malaysia, a country where Nigerians found with drugs are executed. Victor and Ugochukwu were arrested while returning from Brazil. The Head, Media and Public-

ity, NDLEA, Mitchel Ofoyeju, said that anti-narcotic officers at the Akanu Ibiam International Airport (AIIA), Enugu, apprehended the four suspects in connection with unlawful importation and exportation of illicit drugs that tested positive for cocaine, amphetamine and cannabis with a total weight of 25.25kg. He said: “Okafor Chidimma Deborah, a professional dancer, was going to Malaysia with 3.450kg of amphetamine hidden in jeans trousers while Chidiebere, a trader, was found with 17.800kg of cannabis hidden inside bitter leaf on his way to China. “The remaining two suspects were arrested while returning from Brazil. Victor was found with 2.200kg of cocaine hidden inside a music player and Ugochukwu hid 800 grams of cocaine inside the handle of his luggage.” The NDLEA Commander at the Enugu airport, Nsikak-Abasi Udoh, said that all four arrests were made during routine checks.

Fire razes warehouse, shops in Lagos

oods worth millions of naira were destroyed yesterday as fire razed warehouses and shops in Lagos. The fire broke out at a plaza on Ereko Street opposite the Kosoko Ruling House, Idumota, Lagos Island. The midday fire, according to witnesses, started from the middle

floor of the plaza. The warehouse is stocked with textile materials. Witnesses said men of the Lagos State Fire Service battled the raging fire unsuccessfully and complained they had run out of water. The Director, Lagos State Fire Service, Mr Rasaq Fadipe, confirmed

Cephas Iorhemen Makurdi

iolence erupted yesterday at Makurdi office of the Joint Admissions and Matriculation Board (JAMB), as candidates engaged officials of the board in a fisticuff. But the police arrested over 50 of the candidates.

the outbreak of fire in a text message. He said his men were doing everything possible to contain the fire at press time. The affected plaza is a stone throw from the one that got burnt at Balogun recently. In the earlier incident, traders also lost goods worth millions of naira.

The scene of the inferno at 12B, Ereko Street, Idumota, Lagos… yesterday. PHOTOS: SULEIMAN HUSAINI

Angry candidates attack JAMB office The candidates were at the office to print out their examination slips ahead of Saturday’s JAMB Computer-Based Test (CBT) examination scheduled to hold nationwide. But to their chagrin, JAMB officials asked them to come back

today to enable them to sort out things. The candidates were infuriated and started throwing stones at the officials and board’s office complex. They also burnt tyres in protest against the decision of the officials. The protesters also

pulled down the security post of the office. Sensing danger, JAMB officials invited the police who stormed the place firing live bullets into the air. The riot police also fired canisters of tear gas at the candidates to disperse them.

arrests eight for oil theft Dominic Adewole ASABA

he Nigeria Security and Civil Defence Corps (NSCDC) in Delta State has arrested eight suspected pipeline vandals ferrying two trucks loaded with stolen products. The suspects are Salisu Mohammed, Adamu Seidu, Sylvester Irabor and five others. Mohammed, 26, who hails from Yobe State, was the driver of the lorry with registration number Kano XA 611 KUR loaded with 125 drums of the condensate. Irabor, 28, from Edo State, was the driver of the other trailer load of 33,000 litres of diesel. Parading the suspects in Asaba yesterday, the state NSCDC Commandant, Clement Adesuyi, said his command would not relent in the war against vandalism, which, according to him, has been destroying the country’s economy. Adesuyi regretted that the activities of the criminals had been bringing the economy down. The commandant said the corps would continue with its investigation to know their sponsors and would charge them to court after thorough investigation.

Police warn owners of abandoned vehicles P

olice in Lagos State have warned owners of abandoned vehicles parked at Okomaiko Police Division, Area G Police Command, Ogba, Imota and Isheri Oshu Divisions to remove them within 21 days. The police also said the vehicles would be auctioned after 21 days. The vehicles are Mazda 626 with registration number MUS691BS s c r a p, damaged Volvo car marked EJ650SMK, damaged bus marked SMK969XJ, damaged bus with registration number XA623AKN, Toyota Camry marked EA193EKY, Nissan car, unregistered, Daewoo Espero, marked BF544FKJ and Mazda car, marked BE787KJA.

News

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

SOUTH-WEST

I’m not behind Obanikoro’s ordeal, says George

lGroup accuses APC of campaign of calumny Wale Elegbede

he former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, has dismissed claims that he was moving against the Senate confirmation of Senator Musiliu Obanikoro as minister, adding that he has no axe to grind with the erstwhile Minister of State for Defence. Reacting through his media adviser, Prince

Uthman Shodipe, to reports that he was part of forces moving against the re-emergence of Obanikoro as minister, the PDP chieftain said whosoever was linking him with such move, was only spreading falsehood aimed at dividing the party. While noting that the post-primaryelection crisis in the party had since been resolved, he averred that the victory of President Goodluck Jonathan on March 28 and Jimi Agbaje in La-

gos State, was the common course the party was after. “Chief George has been out of the country for the past two weeks and I’m wondering how and why any right thinking person would link him with Obanikoro’s ordeal. “Bode George was disposed to Obanikoro, becoming a minister because it would help the party in the state and at the federal level. The opposition was not making sense, they only want

use the claim to divide us but we have moved beyond that. Meanwhile, a pro-democracy group, Visioners for New Lagos, yesterday warned leaders of the Peoples Democratic Party (PDP) and the ruling All Progressives Congress (APC) against what it described as unfounded attacks against Obanikoro as an intending minister. Speaking against the backdrop of orchestrated opposition against Obanikoro’s confirmation as a minister, the group dismissed the claims as unfounded

and mischievous, saying the same opposition has shown lack of “intelligence in their disdain for Obanikoro and were typified by a class of no gender.” In a statement by the leader of the group, Mr. Bambo Akin-Johnson, said, “Really, it is about

time we took these familiar attacks against Obanikoro with no iota of seriousness. Year in, year out, it is the same issues and the same people. Then, it means this is a cheap campaign and sheer mudslinging that do not deserve anyone’s attention.”

Ekiti begins dredging of rivers, debunks funds diversion claim Adesina Wahab Ado-Ekiti

n apparently move to prevent flood disasters as the rainy season approaches, Ekiti State Government has started the dredging of some rivers within the state. Also, the state government has debunked claims by the opposition All Progressives Congress (APC) that it diverted the ecological funds released by the Federal Government. Speaking in Ado-Ekiti on Monday, the Commissioner for Environment, Hon. Bisi Kolawole, said

contracts for the dredging of eight out of the 22 waterways and their tributaries that were identified to be sources of flooding in the state, had been awarded to Mega Aggregate and Samchase Construction Companies, assuring that the projects would be completed in due course. He said the waterways to be dredged included Adere, Ureje, Esinla, Elemi, Omi Olori among others, which he said had been inflicting colossal damage to lives and properties of residents through perennial flooding.

FG spends over N8bn to decongest prisons –Senator Adeolu Adeyemo Osogbo

S L-R: Osun State Deputy Governor, Mrs Titi Laoye-Tomori; General Officer Commanding, 2nd Mechanize Division, Nigeria Army, Ibadan, Major General Sanisi Nasir Muazu and Governor Rauf Aregbesola, during the GOC’s working visit to the governor in Osogbo…yesterday

enator Babajide Omoworare, representing Osun East Senatorial District in the National Assembly yesterday said that the Federal Govern-

INEC defends military participation in elections Babatope Okeowo Akure

he Independent National Electoral Commission (INEC) has said that military participation in the forthcoming elections monitoring is to restore order and encourage electorate’s fully participation in the electoral process as people would be availed

a sense of security during the election. Stating the position, the Ondo State Resident Electoral Commissioner (REC), Mr. Olusegun Agbaje, revealed that some permanent voter cards (PVCs) were not yet ready. Agbaje, who was speaking at a town hall meeting on non-violent electoral participation said while some PVCs were still being await-

ed from the INEC headquarters, others were yet to be collected by their owners. He also noted that a higher number of people would be encouraged to vote when military personnel were drafted during election as such atmosphere create some sense of security, adding that military personnel do not go to polling units but would only be stationed

3,500 dump APC, others for PDP Babatope Okeowo Akure

o fewer than 3, 500 members of All Progressives Congress (APC) and other political parties yesterday dumped their political parties for the rival Peoples Democratic Party (PDP) in different parts of Ondo State. While 1, 500 dumped the APC in Odigbo Local government area of the state, the rest of the decampees crossed from Labour Party (LP) to the PDP in Okitipu-

pa Local Government Area of the state. The defectors said they took the decision because of their conviction that the PDP was the party to beat in the forthcoming elections in the state and to ensure that President Goodluck Jonathan wins his second term election. The state Chairman of the PDP, Clement Faboyede, received the defectors, who were led by Mrs. Grace Adenuga, Mr Ejobe Friday, Mr Fagbounle Olakunle and Mr Sunday Omoyeye, at the PDP campaign rally in Ok-

itipupa Local Government Area of the state. Speaking at the rallies, attended by all the PDP leaders from the zone including, Chief Olusola Oke, Hon. Kingsley Kuku, member of the House of Representatives, Hon. Akintoye Albert, Chief Sola Ebiseni, Mrs Oladunni Odu, John Ola Mafo and Chief Eddy Olafeso among others, Governor Olusegun Mimiko, warned the people not to be carried away by the deceptive change being propagated by the main opposition APC.

at strategic places to enforce order, He cited the Osun and Ekiti as examples of such success stories. He also said the electoral body was already considering how security personnel, observers and Nigerians abroad could be co-opted into the process, so that they too could assist. Agbaje, noted that the collaborative efforts of the Civil Society

organizations (CSOs) have assisted the commission especially in the area of knowledge sharing workshops and voters civic education, among others. He said that a total of 1,073,904 PVCs had been distributed to voters in the state representing 71.87 per cent as at February 25 2015 while 420,265 representing 28,13 per cent were yet to be collected.

ment has expended over N8 billion on prison decongestion since the year 2012, expressing surprise why prisons in the country were still congested with so many cases awaiting trial. Omoworare, who dropped the hint at an event organised by the Nigeria Union Of Journalists (NUJ), Osun State chapter in Osogbo, said he has sponsored a bill which has been passed by the Senate and currently awaiting the President’s assent to ensure that prisons in the country were de-congested. According to him “when the bill is passed into law, the new law would enable the prisons authority to recommend those inmates that have overstayed in prisons to the Chief Justice of Nigeria for appropriate actions.”

Stop telling lies for political gains, Oyo tells Akinjide, others

he Oyo State Government yesterday told President Goodluck Jonathan campaigners in the state to desist from peddling outright falsehood and half truths in their attempts at hoodwinking the people of the state into supporting the second term bid of their benfactor. Reacting to a statement credited to the Minister of State for the Federal Capital Territory (FCT), Ms. Jumoke Akinjide, regarding the funding of tertiary institutions in the state by the Federal Government,

the state government said the claim were mere fabrications aimed at scoring cheap political points. The state Commissioner for Education, Prof. Solomon Olaniyonu, described Ms. Akinjide’s claim as the latest in the series of lies by the minister in her desperation to mobilise support for the troubled second term bid of Jonathan. Akinjide, had claimed that the Federal Government had contributed more to the infrastructural and educational de-

velopment of state-owned tertiary institutions than the Governor Abiola Ajimobi administration. Faulting the minister’s claim, the commissioner said that the purported N5 billion alluded to by Akinjide merely existed on paper, since the affected institutions had not been able to access the fund up till date. Specifically, Olaniyonu, said the government had spent N5.2 billion as capital expenditure on the state-owned tertiary institutions.

NEW TELEGRAPH TUESDAY, MarCH 3, 2015

Verbal attack

APC expresses concerns over Fani-Kayode’s mental state

Guber poll

General elections

Presidency

Abia can become Africa’s trade zone – Udensi

Jonathan: PDP too strong for defeat

Where are 2011 candidates?

Politics Obanikoro: Fresh hurdles WALE ELEGBEDE looks at the fresh hurdles facing the erstwhile Minister of State for Defence, Senator Musiliu Obanikoro before his confirmation by the Senate in a bid to take another shot as a minister

to a second coming

he nomination of the erstwhile Minister of State for Defence, Senator Musiliu Obanikoro by President Goodluck Jonathan for confirmation as a minister, less than five months after he resigned his position in the federal cabinet to contest the Peoples Democratic Party (PDP) governorship primaries in Lagos, seems to be generating more heat in the polity especially in the face of an alleged audio tape that hauled up Obanikoro and some others in the June 21, 2014, Ekiti State governorship election. A deluge of resistance championed by the opposition All Progressives Congress (APC) had trailed last week’s appearance of Obanikoro before the Senate for confirmation. Incidentally, Obanikoro was a member of the Red Chamber between 2003 and 2007, and in line with the rules in the upper chamber, he was expected to take a bow and leave but the opposition would not want any of that. After the drama that played out in the Lagos governorship race where Obanikoro lost the primaries to Jimi Agbaje, the presidency swiftly intervened and offered a concession to Obanikoro. Owing to his influence and ruggedness, the agreement was to return Obanikoro as minister and calm frayed nerves for a united Lagos PDP. With days to his nomination, an audio recording, purportedly obtained from an intelligence officer in the Nigerian Army, Captain

AYODELE OJO

DEPUTY Editor, POLITICS ayodele.ojo@newtelegraphonline.com

Obanikoro

Sagir Koli, surfaced on an online portal, Saharareporters, and it gave a voice account of how Obanikoro alongside Governor Ayodele Fayose of Ekiti State and others met before the June 21 Ekiti governorship election, with the intent to manipulate poll in favour of the ruling party. Aside the governor and Obanikoro, the purported audio recording also captured Brig.-Gen. Aliyu Momoh, who was in charge of the election; Osun PDP governorship candidate, Senator Iyiola Omisore and Minister for Police Affairs, Jelili Adesiyan, at a meeting where they allegedly gave directives to the military to favour the PDP in the election. Though Fayose and Obanikoro have denied both the meeting and the voices in the audio clip, the opposition is using the clip and its details as a frontal attack against Obanikoro’s confirmation as minister by the Senate. For the members of the APC Senate Caucus, they have resolved to take the anti-Obanikoro confirmation beyond their jurisdiction by co-opting senators from the PDP into their path of resistance

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

We will do everything possible to stop Obanikoro from being cleared as a minister

to Obanikoro. According to the spokesperson of the caucus, Babafemi Ojudu, who hails from Ekiti State, the APC senators had started mobilising themselves to frustrate Obanikoro’s clearance and approval for fresh appointment. He said: “We will do everything possible to stop Obanikoro from being cleared as a minister. Ordinarily, being a former senator, he is expected to take a bow and receive automatic clearance but in the present circumstance, he has serious issues to clear. “In a normal society, he should have been picked by security agents and quizzed over his involvement in the criminal act of using the military to subvert a democratic process. “This is a man who used the name of President Goodluck Jonathan to intimidate and harass military officers. He even threatened to determine the fate of the soldier, as the then Minister of State for Defence, if he failed to carry out the alleged rigging plot. “It is not only the APC senators that are involved in this struggle; senators from other political par-

ties have pledged their loyalty for the cause.” Acting in similar tone, the APC at the end of its first joint leadership meeting in Abuja, called for the outright ban of Obanikoro from holding any public office over his role in the purported audio clip. However, the PDP has described moves by the APC to halt Obanikoro’s confirmation as vindictive, laughable and unpatriotic. According to the Forum of the South West Publicity Secretaries of the PDP after its meeting in Akure, the Ondo State capital, the APC senators’ threat to stall Obanikoro’s confirmation is an affront on the nation’s democracy and a diversion from the age-long tradition of the House, which allows former members of the upper chamber who had reasons to come before it for confirmation to take a bow. The group said: “In this case, the APC senators did not have any legal or moral grounds to oppose Senator Obanikoro. They were merely acting the scripts of their master who had been exercising fear over the soaring political profile of Obanikoro in recent time.” Also lending his voice, the Secretary of the Lagos State PDP, Alhaji Wahab Owokoniran, said the president has made the right choice with Obanikoro’s nomination. Saying that members of PDP in Lagos State are fully in support of Obanikoro’s nomination. “We are talking here of a tape that has been doctored to reflect their negative opinion about an election they lost freely and fairly, but they are being bad losers. More so, I learnt that the case is in court and any matter in court cannot even be discussed or a pronouncement made on it. It is glaring that they are just afraid of Senator Obanikoro because they know he is a man of action,” he said. On his part, a national ex-officio of the Lagos PDP, Chief Jide Damazio, rubbished the audio clip claim of the APC, saying that, “all these claims are unfounded and the APC is only doing that to discredit the president’s nomination, which has the blessing of all members of the party in Lagos. “There has not been any proCONTINUED ON PAGE 15

Politics

TUESDAY, MarCH 3, 2015 NEW TELEGRAPH

PVC collection hits 63 per cent in Ogun Kunle Olayeni Abeokuta

he Independent National Electoral Commission (INEC) has put the percentage of Permanent Voters’ Cards (PVCs) collected by voters in Ogun State at 63 per cent. The commission also said that it has identified 555 PVCs belonging to dead registered voters between 2011 and 2015 in the state. The state Resident Electoral Commissioner (REC), Chief Timothy Ibitoye, disclosed this at a press conference held at the INEC office in Abeokuta. Ibitoye stated that the commission had received 1,370,340 PVCs from its headquarters in Abuja out of which 860,076 cards were collected so far. He pointed out that the correct number of registered voters in the state was 1,795,794 and not 1,829.534 previously published.

The REC, who was flanked by the commission’s Administrative Secretary, Mr. Dickson Atiba and other principal officers, said INEC was able to discover the 555 PVCs belonging to the dead during the compilation of lists of those who had yet to collect their voters’ cards. He said: “We are struggling by all means to ensure that we have correct PVC distribution. We have gone to all the 20 local government areas in the state from one polling unit to the other to write out the names of those who have not collected their cards and upon investigation, they now gave us the figures; I mean the names of those who are dead in Odeda, Abeokuta South, Abeokuta North, in all the council areas of the state.” Ibitoye debunked claims that eligible voters in the state had shown apathy towards the PVC collection.

APC faults Ribadu on change of government theory Wale Elegbede

he All Progressives Congress (APC) has faulted statements credited to the gubernatorial candidate of the Peoples Democratic Party (APC) in Adamawa State, Mallam Nuhu Ribadu that countries don’t change their Commander -in -Chief during war. In a statement issued yesterday by APC’s Director of Strategic Communications, Dele Alake, the party said Ribadu’s statement flies in the face of history and concrete reality. The APC said the constitution says the welfare and security of the people shall be the primary purpose of government but the tragic reality of Nigeria today is that the nation lacks a competent commander-in-chief to perform this constitutional duty. “What we have on display is an astonishing abandonment of responsibility in which President Goodluck Jonathan literally cedes his powers to service chiefs. President Jonathan has demonstrated his unmitigated inadequacy to secure Nigeria,” Alake said. According to the statement, “Ribadu, a former anti-corruption czar, and other apologists of the current state of insecurity should be prepared for the impending

change in which that voters would elect General Muhammadu Buhari as the commander-in-chief on March 28 for a secured Nigeria.” While accentuating the implication of Ribadu’s alibi for not changing the Commanderin-Chief, the APC said many mature democracies would not have changed the party and persons running their administration, if this was true. The APC said the issues of insecurity, corruption and the worsening state of the economy with the free fall of the Naira are germane to the outcome of the election.

APC expresses concerns over Fani-Kayode’s mental state Johnchuks Onuanyim, Onyekachi Eze and Temitope Ogunbanke

he All Progressives Congress (APC) yesterday expressed concern over the mental state of the Director of Media and Publicity of the Peoples Democratic Party Presidential Campaign Organisation, Chief Femi Fani-Kayode. The party in a statement issued by its National Publicity Secretary, Alhaji Lai Mohammed, however stated that it does not wish him any ill health. “No, we have never and will never wish anyone any ill health,” said Mohammed. The party, however, stated that Fani-Kayode may have “unhinged, perhaps as a result of a relapse into an unhealthy lifestyle of substance abuse.” ‘’Our concern stems from the series of incoher-

lStop infantile attack on me, says ex-minister ent statements, outlandish claims and inconsistent behaviours exhibited by Mr. Fani-Kayode in recent times, which call into question his state of mental health. “We wish Mr. FaniKayode well and call on him to tell Nigerians that he remains clean, despite the massive pressure of work, and that he will not do anything that will see him needing a prolonged reformation in a foreign land,” he said. The party further stated that only an unstable mind and someone who is teetering on the brink that will conjure up the kind of improbable scenarios that have been put out there in quick succession by FaniKayode, and still believe strongly that he is doing the right thing. Also the stated that the APC does not harbour the kind of disturbed personalities who abound in the

PDP, and who will not hesitate to publicly wish fellow Nigerians ill or dead, as long as they believe such illwill would endear them to their masters and guarantee their political survival. Meanwhile, Fani-Kayode has called on APC national leader, Tinubu, to concern himself on how to sell Major General Muhammadu Buhari to the electorate instead of launching verbal attack on him. In a statement yesterday, Fani-Kayode said Buhari and APC should purge themselves of their obvious obsession with him and instead pray for the fortunes of General Buhari in the election. “I do not need their good wishes and neither do I crave their goodwill. Rather than continuously talking about me and making infantile and primitive statements, they should spend their time praying for the soul of the late and

great PDP leader, Chief Funso Williams, who would have been governor of Lagos State, who was mysteriously murdered a few years ago,” he said. He advised that they should pray that God will keep General Buhari safe from the enemy within, adding, “the only people that are caving in under pressure here are the APC, their presidential candidate, General Buhari and their de facto leader Tinubu. The closer we get to March 28, the more they panic and the more falsehood spew out. As I have said before, they have become prisoners of their own delusions and fantasies and victims of their own hallucinations.” Fani-Kayode said Tinubu and APC should prepare for the greatest humiliation and defeat because after March 28, the party will crumble and would have gone with the wind.

Chairman, Correspondents Chapel, Nigeria Union of Journalists, Plateau Council, Mr. Yusufu Edegwu (left), with the All Progressives Congress (APC) senatorial candidate for Plateau North, Mrs. Eunice Sambo at a media forum in Jos…yesterday.

Abia can become Africa’s trade zone – Udensi Norman Obinna

he Abia State Progressive People’s Alliance (PPA) gubernatorial hopeful, Sir Chikwe Udensi has said that given the right leadership, Abia State has all the potential to become not only the economic nerve centre of Nigeria but also a trade zone for the African continent. He said this on Sunday in Umuahia, the Abia State capital, while addressing members of the Aro community who adopted him as their sole candidate in the April 11 gubernatorial election. Udensi said his recent

tour of the state especially Aba has opened his eyes to the painful abandonment of resources and underutilisation of manpower in the state by the state government despite talents abound. He added that if properly harnessed and utilised, Abia State will rank among the best in Africa and the world in the shortest possible time. He decried the state’s huge financial indebtedness amounting to billions of naira and also disagreed with the idea that to achieve economic stability, the incoming government will need to borrow more money

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

as well as seek international grant. “I marvelled when some people are using the seeking for international grant and borrowing funds to rebuild Abia State as campaign manifesto. That shows incompetency and lack of knowledge or ignorant

of the potentialities that abound in the state we are aspiring to govern. “Abia State from the economic strength of Aba, if properly harnessed, can generate almost the same Internally Generated Revenue (IGR) as Lagos State. There is nothing that cannot be produced in Aba, made in Aba products especially shoes and suits are selling outside the shores of this country. You can imagine what the story will be when the craftsmen are properly empowered and enabling environment provided,” Udensi said. The governorship hopeful also urged Abians

not to be swayed by the political razzmatazz of those that are aspiring to govern them, but look at the credibility and past record of all the candidates before voting to ensure that the right man for the job is elected. “In democracy, in determining who wants to serve us, it is important to know what who want to serve us has done in the past. That is the only way we can be sure of what he will do in the future if elected,” Udensi noted. The PPA’s gubernatorial hopeful, however, promised to provide a befitting meeting hall for the Aro community.

Politics 15

NEW TELEGRAPH TUESDAY, MarCH 3, 2015

Jonathan: PDP too strong for defeat Anule Emmanuel Abuja

resident Goodluck Jonathan yesterday boasted that the ruling Peoples Democratic Party (PDP) is too strong to be defeated in a free and fair contest, notwithstanding the antics of the opposition All Progressives Congress (APC). The president said PDP will therefore stand firm to resist any form of intimidation by the opposition particularly as the 2015 general elections draw closer. Jonathan, who was addressing party stalwarts at the unveiling of the PDP Volunteer Scheme at the Presidential Villa, Abuja, urged party members to be proud of their party and stand in its defence at all times. The PDP Ward Scheme Volunteer is a campaign strategy targeted at the

grassroots using about a million foot soldiers to be known as volunteers. He said: “We should all be proud of our party and we should not allow others to intimidate us. We must all collectively protect and defend the interest of our party.” President Jonathan said no political party in the country is formidable as the PDP, explaining why the party would coast to victory in the general elections. “PDP is not just the largest party in Nigeria, but it is the only party that has members at all voting units. There is no other party whether two, three, four, five parties coming together, they cannot reach that level. PDP has members in every voting unit in this country,” he added. Jonathan also decried what he called poor marketing of the PDP by its members and stressed that besides its numerous

achievements, only the ruling party could guarantee unity and peace of the country. “If you go to agricultural sector, transportation sector, education sector, in the petroleum sector, we have opened up the sector, such that it has created a lot of room for the big boys in the Nigerian oil sector,” he said. The president thereafter charged PDP stalwarts to work hard in marketing the party, especially at the grassroots, using the media so that the elections would be a walk over. According to Jonathan, the consistent attacks on his person and the party was a strategy by the opposition to destabilise him since he remained the first image bearer of the party and government. Director General of the PDP presidential campaign committee, Dr. Ahmadu Ali in his remark at the event said:

“People talk about security, this has been going on, it’s not the first time. Shehu Shagari had to deal with the Maitatsine riot in Kano.” According to him, using the issue of insecurity against the PDP as campaign strategy by the opposition does not make sense. Other speakers at the event including Prof. Jerry Gana and Chief Tony Anenih, Director General, Director of Mobilization of PDP Presidential Campaign Organisation and Chairman of Board of Trustees (BoT) respectively.

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

People waiting to collect their Permanent Voters’ Cards (PVCs), at Primary Health Care Centre, Amarata, Yenagoa in Bayelsa …yesterday.

Tinubu to sue AIT over defamation lAPC threatens suit over oath-taking Tunde Oyesina and Johnchuks Onuanyim Abuja

ll Progressive Congress (APC) national leader, Asiwaju Bola Tinubu, yesterday threatened to institute a legal action against the management of the Daar Communications Limited, owners of the Africa Independent Television (AIT) for the defamatory content of a documentary aired on Sunday, March 1. The threat was contained in a letter dated March 2, and addressed to the Managing Director, Daar Communications signed by counsel to Tinubu, Dr. Tunji Abayomi. Abayomi, however, asked Daar Communications to apologise for the content and stop further airing of the said documentary. The letter reads in part: “You aired an hour long documentary focussing on our client (Bola Tinubu). Clearly pre-occupied with political resentment and hatred neither warranted, necessary, proper, or justified, you published several false allegations against our client. “More disturbing is your misrepresentation that the said documentary was “sponsored” without disclosing the “sponsors”. “You cannot under law, hide under media freedom to maliciously injure a citizen’s reputation.” The letter however demanded for the sum of N20 billion as cost of damages done to the reputation of his client failing which the client will sue the company. “To affirm the right of our client against your defamatory publication, we demand that you convey to us within 24 hours of receipt of this letter, an

Obanikoro: Fresh hurdles to a second coming C O N T I N U E D F R O M PA G E 1 3

test to the nomination from the PDP or any non-political group in Lagos. The only group mounting opposition to the nomination is the APC, which is well understood, we don’t expect anything less,” he said. As it stands, the battle line is drawn over the confirmation of Obanikoro for a second term as a minister. However, the questions agitating the minds of many include: Does the opposition intends to prosecute Obanikoro if eventually it succeeds in its mission to stall his confirmation? Is there any other reason why the opposition is so particular at only Obanikoro while exempting others including a serving minister who is said to be part of the audio conversation? While some political pundits viewed the blockage against Obanikoro by the opposition to be a matter beyond the

dead and buried Ekiti election, others hold the belief that it was targeted to wane the influence of Jonathan’s second-term bid. According to a chieftain of the PDP, “the opposition was only trying to wane the influence of the PDP in the SouthWest because they are aware of what the utility value of Obanikoro as a minister will add to the PDP and President Jonathan’s re-election bid. Don’t forget he used to be with them and he knows their antics.” However, some members of the opposition debunked the insinuation that they are afraid of Obanikoro, saying that issues should be addressed as they are without any political colouration. “Who told you that Obanikoro commands the kind of followership that will threaten the APC in Lagos? If he does, he should have won his party’s governorship ticket. See, aside the au-

dio clip that patently indicts him, even his party does not want him to return as a minister. How do you even know that the nomination was not a bait from the presidency to put him in the middle? The likes of Bode George don’t want him,” an APC youth leader said. But, denying having any hand in Obanikoro’s ordeal, George, a former deputy national chairman of the PDP, said it is nonsensical to link him with such plot, adding that he has no hand in the plight of the erstwhile minister. Speaking through his media adviser, Prince Uthman Shodipe, the PDP chieftain said, there is no rift between him and the erstwhile minister of state for defence. “Bode George is disposed to Obanikoro becoming a minister because it will help the party in the state and at the federal level. The opposition is not making sense, they only want use divide

apology and retraction of the said publication/ documentary.” Meanwhile, the APC has threatened to sue the Peoples Democratic Party (PDP) and the Director of Media and Publicity of the PDP Presidential Campaign Organisation, Chef Femi Fani-Kayode over allegation of oathtaking by the APC vice presidential candidate, Prof. Yemi Osinbajo (SAN) and former governor of Lagos State, Asiwaju Bola Tinubu. The APC Presidential Campaign Organisation (APCPCO) in a statement in Abuja yesterday warned the PDP and FaniKayode to either show evidence of the oath-taking or retract the libellous claims within 72 hours or be ready to be charged to a court of law. Fani-Kayode had last week alleged that Tinubu and Osinbajo took oath that the vice presidential candidate of APC will resign to pave the way for Tinubu after six months in office in the event that Major General Muhammadu Buhari wins the March 28 presidential election. Reacting to the allegation, Director of Media and Publicity of APCPCO, Garba Shehu said: “For the PDP through Fani-Kayode to state publicly that an erudite Professor of Law, a Senior Advocate of Nigeria (SAN) and a reputable Pastor of the Redeemed Christian Church of God (RCCG) swore an oath to vacate his seat as the Vice President of the Federal Republic of Nigeria for the National Leader of the APC, Asiwaju Bola Ahmed Tinubu, should the party win the forthcoming election is an attack on the hard-won integrity and the reputations of these great Nigerians and APC stalwarts.”

and rule tactics but we have moved beyond that. As the politicking continues, it is left to be seen whether the Senate would be on the same page to deny one of its alumni a second shot at a cabinet minister or they will move along party lines and put the strength of their numbers to test. But according to the Special Adviser to the President on Public Communications, Dr. Doyin Okupe, the president is still sticking to the nomination of Obanikoro and whatever objections from the opposition is “purely sentimental and partisan.” “If the APC senators consider the clearance of Obanikoro as minister along party lines, it will be unfortunate. But the president will be ready for whatever decision and direction the senators will take. In the event they do not clear Obanikoro on the basis of partisan sentiments, the President I think will be ready to engage them for reconsideration,” Okupe said.

16 Politics

Jonathan

In Nigeria, the pleasure of governing is exquisite, which explains why many are eager to be concerned with it. However, majority of the candidates who contested the country’s presidential election in 2011 have quit the stage, raising concern over whether the presidency is no more attractive. Felix Nwaneri reports

he 1999 general elections, which ushered in the current dispensation (Fourth Republic) was contested by the then registered three political parties – All Progressives Party (APP), which later became All Nigeria People’s Party (ANPP); Peoples Democratic Party (PDP) and Alliance for Democracy (AD). Of the three parties, the APP and PDP fielded candidates for the presidential election. The latter had a former head of state, General Olusegun Obasanjo, while an alliance between the APP and AD produced a one-time Finance Minister, Chief Olu Falae. Obasanjo won the poll and was sworn in on May 29, 1999 as president. Since then, the number of those interested in leading Africa’s most populous country at every general election has continued to be on the rise, thanks to the registration of more political parties by the Independent National Electoral Commission (INEC). Interestingly, the number of presidential candidates got to a height in the 2011 elections, when 21 candidates contested for the country’s number one position. No doubt, some of them were contenders, while others passed as mere pretenders. The candidates were Goodluck Jonathan (PDP); Muhammadu Buhari, Congress for Progressives Change (CPC); Nuhu Ribadu, Action Congress of Nigeria (ACN); Ibrahim Shekarau, All Nigeria Peoples Party (ANPP); Mahmud Waziri, Peoples for Democratic Change (PDC); Nwadike Chikezie, Peoples Mandate Party (PMP);

TUESDAY, MarCH 3, 2015 NEW TELEGRAPH

Buhari

Ribadu

Shekarau

Presidency: Where are 2011 candidates? Lawrence Aroh, Peoples Progressive Party (PPP) and Peter Nwangwu, African Democratic Congress (ADC). The list further had Iheanyichukwu Nnaji, Better Nigeria Progressive Party (BNPP); Chris Okotie, Fresh Democratic Party (FRESH); Dele Momodu, National Conscience Party (NCP); Akpona Solomon, National Majority Democratic Party (NMDP); Lawrence Adedoyin, African Political System (APS) and Ebiti Ndok, United National Party for Development (UNPD). Others were John Dara, National Transformation Party (NTP); Rasheed Shitta-Bey, Mega Progressive Peoples Party (MPPP); Yahaya Ndu, African Renaissance Party (ARP); Ambrose Owuru, Hope Democratic Party (HDP); Pat Utomi, Social Democratic Mega Party (SDMP); Chris Nwokobia, Liberal Democratic Party (LDP) and Martin Onovo, Action Alliance (AA), which was excluded from the ballot paper. While it was a long list in 2011, the number of presidential candidates has shrunk to 14 in the 2015 polls. Of this figure, only four were part of the 2011 contest. The 2015 presidential election is also witnessing fresh contenders unlike the 2003, 2007 and 2011 polls that had perennial presidential candidates. Those who contested in 2011, and are in the race again are the incumbent, President Jonathan (PDP); Buhari, now contesting on the platform of the All Progressives Congress (APC); Owuru (HDP) and Onovo, who dumped AA for NCP. Some questions against this backdrop are: What could have influenced the sudden drop in the number of presidential candidates? Is the centre (presidency) no more attractive, or are the funds no longer there for some of the candidates to prosecute their life-long ambitions of leading Nigeria. New Telegraph takes a look at the 2011 presidential candidates – the ones still in the race

and those who have backed out.

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The number of presidential candidates got to a height in the 2011 elections... No doubt, some of them were contenders, while others passed as mere pretenders

Goodluck Jonathan President Jonathan, who is running for a second term would be flying the PDP’s flag in the March 28, election. He won the 2011 election, polling 22.4 million votes (58.8 per cent) of the 39.4 million total votes cast. Before the president emerged the ruling party’s presidential candidate for the 2015 polls through consensus at the PDP’s national convention, there had been arguments over whether or not he was qualified to contest the poll. While some argued that the president has taken the oath of office twice and would be breaching the constitution should he go ahead to contest, win and be sworn in for a ‘third time,’ the court ruled in his favour though the matter is pending before an appellate court. The court declared that President Jonathan only completed late President Umaru Yar’Adua’s tenure, and started his first term in 2011. The President is going into the election on the strength of the gains of his Transformation Agenda. Among the gains, his

Onovo

camp claims, include progress in the communication, power, aviation, road and rail sectors, and his stronghold still remains his native South-South and neighbouring South-East. Muhammadu Buhari Buhari, a former head of state is in the race again. The retired Army General is not new in the presidential race. His first attempt was in 2003 on the platform of the defunct ANPP, but was defeated by Obasanjo of the PDP. He was back in 2007, also on the platform of the ANPP, but was defeated by late Yar’Adua. In March 2010, he left the ANPP to form the CPC. It was on this platform that he contested the 2011 presidential election against Jonathan, scoring 12.2 million votes (31.9 per cent). Buhari had declared on the eve of the poll that he will not seek any elective office again, but he later made a detour. The former military ruler is banking on his popularity, particularly in the North, where he enjoys a kind of cult-followership in the election. He defeated four other aspirants – former Vice President Atiku Abubakar; Kano State

Owuru

Politics 17

NEW TELEGRAPH TUESDAY, MarCH 3, 2015

Utomi

Okotie

governor, Rabiu Kwankwaso; Imo State governor, Rochas Okorocha and the publisher of Leadership Newspapers, Sam Nda-Isaiah to clinch the APC ticket. Ambrose Owuru Owuru is returning to the stage again on the platform of HDP despite the fact that he was able to garner only 12,023 votes (0.03 per cent) in the 2011 elections. The HDP presidential hopeful, who also doubles as his party’s national chairman has been in the presidential race since 2007. He believes that his party is capable of re-engineering the polity as well as empowering a new generation of statesmen who will work for the future of Nigeria.

Nwaokobia

dential candidate in the 2011 election. She contested the poll on the platform of the UNPD, which she is its chairperson. The only female leader of a Nigerian political party was able to garner 21, 203 votes (0.06) to come a distant 14th position. This, she blamed on funding, which made it difficult for her to campaign across the country. The poor showing may have explained why the Cross River State-born politician opted out of the 2015 race to concentrate on her publishing business and running of a non-governmental organisation, Nigerian Women Solidarity, which she heads.

Martin Onovo Onovo was the presidential candidate of AA in 2011, but his name and other candidates of the party for all elective positions across the country, were excluded from list of candidates for the elections by INEC. Though he protested the action then and described it as an impingement on the credibility of the poll, the Enugu State-born engineer turned politician is back on stage. He would be flying the flag of the NCP on March 28, and has pledged to reduce fuel price by domestic refining as well as to invest about $9 billion to double power generation, transmission and distribution in two years.

Nuhu Ribadu The pioneer chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, was the presidential candidate of defunct ACN in the 2011 elections. He came third in the poll behind President Jonathan and General Buhari with 2.1 million votes (5.4 per cent). Despite the poor showing of his party in its South-West stronghold, he was able to swept votes in Osun State of the zone. Ribadu was tipped among APC’s likely presidential hopefuls before he defected to the ruling PDP in August last year to run for the governorship of Adamawa State. He is the PDP governorship candidate for the April 11 governorship poll.

Ebiti Ndok Ndok was the only female presi-

Lawrence Aroh Aroh was the presidential stan-

Nwadike

Momodu

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

The 2015 presidential election is also witnessing fresh contenders unlike the 2003, 2007 and 2011 polls that had perennial presidential candidates

Darah

dard bearer of the PPP in 2011. He polled 54,203 votes (0.14 per cent), which placed him in the 7th position. Before then, he had contested the 2007 governorship election in Anambra State, and was among a group of candidates who declared their support for the victory of the PDP’s candidate in that election, Andy Uba, before he was stopped by the Supreme Court. Not much has been heard of the Anambra State-born politician and his presidential ambition since the race for the 2015 elections commenced. Chikezie Nwadike Nwadike flew the flag of the PMP in the 2011 presidential election. The founder of Leadership by Example International, polled 56, 248 votes (0.15 per cent), which placed him in the 6th position. A former teacher, Nwadike joined politics in 1989 and served as the Administrative Secretary of the defunct Peoples Front of Nigeria in Imo State. He later moved to the defunct Social Democratic Party (SDP) and contested as the chairman of Nkwerre Local Government Area. With the return to democracy in 1999, he lost the senatorial elections and later became a Special Adviser to the late Senate President, Dr. Chuba Okadigbo. He also contested the presidential primaries of the All Nigerian People’s Party (ANPP) in 2007. Having been on the political scene for a while, he seems to have quit the stage for younger politicians. Solomon Akpona Delta State-born Akpona was one of the four candidates from Delta State that sought for the office of the president in 2011. He then promised to improve the economy, upgrade power and the nation’s industrial sector if elected on the platform of the NMDP. He polled 25, 938 votes (0.07 per cent) to place 12th position. This dismal performance and the huge fund needed to execute a presidential campaign in a country like Nigeria may have forced him to jettison his ambition for now. Peter Nwangwu Nwangwu, who hails from Anambra State, vied for the presidency in the last elections on the platform of the ADC. The U.S trained pharmacologist polled 51, 682 votes (0.14 per cent)

and has since returned to his base after testing the murky waters of Nigerian politics. Dele Momodu Momodu, a journalist turned politician contested the election on the platform of NCP, founded by late legal luminary and human rights activist, Chief Gani Fawehinmi. He polled 26, 376 votes (0.07 per cent) to take the 11th position. Many had expected that he would have tried his hand on the presidency again, but the Ovation International magazine publisher has opted to focus on his business though he still finds time to comment on national issues through a weekly column on the back page of ThisDay Newspaper, entitled “Pendulum.” While Momodu is not contesting the 2015 elections, he has thrown his weight behind the APC presidential candidate, General Buhari, who, he believes will win the poll by a landslide. John Dara The presidential candidate of the NTP in the 2011 polls, who hails from Kwara State, garnered only 19,744 (0.05 per cent) votes to take the 15th position. The reality that the presidential contest is not an all comers affair may have informed his decision to opt for the governorship of his state in the 2015 elections. To realise this ambition, Dara dumped the NTP for the PDP and contested the party’s gubernatorial primaries but lost to Senator Simon Ajibola. Chris Nwaokobia The LDPN presidential candidate in 2011 came first from the rear in the elections, scoring 8,472 votes (0.02 per cent). Also from Delta State, Nwokobia’s campaign was anchored on the need to deepen the moral and socio-political boundaries of Nigeria’s federalism, but he seems to have jettisoned that quest for a new political order, as he is rarely seen in the political scene since that disappointing outing. Chris Okotie Another presidential candidate from Delta State, Rev. Okotie was the standard bearer of FRESH, and polled 34, 331 votes (0.09 per cent). He had promised Nigerians then that he had new ideas as to CONTINUED ON PAGE 20

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

Opinion

Between Egwu and political hatchet men

Jerry Uhuo

t was Thomas Jefferson who said that “Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude." In a political period such as this and in an environment like Ebonyi where those who are deficient of ideas and issues to present to the public resort to jungle political debate, such article should ordinarily not deserve a response. But since some readers and supporters of Dr. Sam Egwu may not see it the same way, it has become imperative to put a so called Ndubuisi Okpala in his right shoes. This is because as Theodore Roosevelt once said, “In a moment of decision, the best thing you can do is the right thing. The worst thing you can do is nothing.” The personality of Dr. Sam Egwu can simply be summed up in the statement of a onetime American President John F. Kennedy that "The problems with this world cannot possibly be solved by skeptics or cynics whose horizons are limited by the obvious realities. We need people who can dream of things that never were." The fact that Okpala described Dr Egwu in his article as a politician living in the past and a man who “as a governor achieved visibly nothing” and that Egwu’s regime was a period of “oil boom” was a clear indication that the author knew nothing about Egwu and Ebonyi State from 1999 to 2007. I could recall that Egwu during his tenure, introduced a scholarship scheme in partnership with foreign universities called HIPACK which provided platform for young Ebonyians to study up to doctorate levels in all disciplines in different renowned universities abroad. Most of the beneficiaries of that project returned home and became resource persons at the Ebonyi State University while many others are practicing in other areas as employers of labour. The current leadership in Ebonyi has abolished the programme. Egwu also in consideration of the poor situation of parents in Ebonyi, allowed indigenous students in the State University to pay their tuition fees in installments. With that, many children from poor homes were able

There is no doubt that Egwu’s antecedents, political experience and national presence and acceptability, present him as a credible and formidable candidate for Senate of the Federal Republic of Nigeria to represent Ebonyi North Senatorial Zone to complete their education in the University. Today such privilege is no longer available in addition to over 100 percent increase in tuition fees which students are required to pay at once In Sports, Egwu introduced female soccer teams called Ebonyi Angels and Ebonyi Queens through which young ladies from the State and those with the talents harnessed their creativities in football. Today the clubs have been sold by the current administration thereby denying young ladies in the state the opportunity to be like their counterparts in the female national team called Falcons. The Women Development Centre was built under Egwu. The World Trade Centre still under construction was awarded under his administration to demonstrate his determination to bring investors to the state. He elevated the Ebonyi State Teaching Hospital to become the envy of all State Teaching Hospitals in Nigeria at the time. Egwu promoted peaceful co-existence in Ebonyi and prevented situations that would have escalated to war. Under him, the traditional institutions were treated with deserving respect and dignity, whereas under the present administration, the traditional institution has no recognition and respect; instead it faced occasional suspension and demotion even on matters that do not fall within their domain.

The state government never received any revenue from federation account amounting to over N1billion in the first fours years. There was no excess crude as it is today, there was no SURE-P supplementation and donations from donor agencies were hardly available yet he was able to make his remarkable achievements without borrowing from the capital market. So the issue of “oil boom” as described by Okpala was an imagination. When Egwu left office in 2007, he was appointed a Minister of Education. He was appointed member of different boards at the federal level as well as member of the just concluded National Conference in Nigeria. There is no doubt that Egwu’s antecedents, political experience and national presence and acceptability, present him as a credible and formidable candidate for Senate of the Federal Republic of Nigeria to represent Ebonyi North Senatorial Zone. He remains the candidate for the election. It is important to remind Okpala with the “12th century Arabic saying that, “He who knows not, and knows not that he knows not, is a fool. Shun him. He who knows not, and knows that he knows not, is ignorant. Teach him. He who knows, and knows that he knows, is a wise man. Follow him. He who knows, and knows not that he knows, is asleep. Wake him”. The above statement aptly captures Okpala’s statements about Mr. Dave Umahi, PDP Flag bearer for the governorship election in April, 2015. Governor Martin Elechi never complained against his deputy, Engr. Umahi since 2011 until Umahi expressed his desire to participate in the governorship race for 2015. That Umahi expressed his freedom of desiring to become the next governor of Ebonyi through the ballot box does not make him disrespectful to the governor. The fact that the governor appear not to support his deputy for the governorship race is just a common phenomenon in Nigeria. One fact is very clear, we (Ebonyi people) will drive the change we wish to see in our state and April 11, 2015 is a date with history. •Uhuo sent in this piece from Abakaliki.

LETTERS TO THE EDITOR

Beating the drums of war

Who'll save Jonathan from Jonathan?

THE Nigerian Civil War was an unavoidable national calamity that nearly pushed the country into the trashcan of history. It was a war that pitched centripetal and centrifugal forces against each other but destiny prevented the nation from sinking into the abyss of balkanization and implosion. However, these demons of destruction and bats of underdevelopment are still haunting the nation today. Similarly, the June12 annulment brought the nation to its knees and shattered the political stereotyped that some people were born to be the rulers of the nation. It is rather unfortunate that today our leaders are yet to learn the bitter lessons of these two major tragedies foisted on the nation by the vaulting ambition of a few. Today after the postponement of the national polls and with spin doctors and propagandists of both the PDP hue and APC stripe trading blame for the tension soaked atmosphere, the nation is once again perching perilously on the precipice of disaster and implosion. The fault lines are becoming wider. The enemies of democratic progress and courtesans of dictatorship are shouting to high heavens what will happen should their preferred presidential candidates not win the

THE stoppage of the February 14th elections in Africa's most populous nation, and now the fastest-growing economy by President Goodluck Jonathan smacks off megalomaniac dictatorship at its submit. Inadvertently, it is the beginning of a road that would soon lead to his exit from Aso Rock. Dr. Jonathan, in his mind, had conquered Nigerians with the greatest of ease. He sees himself and the PDP as the salt of the nation, the incredible guarantors of the fulfilment of the Nigerian's destiny. He is being burnished by the Army and the Niger Delta militants, which he has been nourishing, albeit secretly, to furnish physical violence, the terror by which he could bludgeon his way back to political power, should he lose the election. The President, the PDP, the Army, the Niger Delta militants, Edwin Clarks and others who have staked themselves to the shift of February elections have one thing in mind before committing the political harakiri. The bottom must be knocked off, they reasoned, since Nigerians have become so enchanted by the Gen. Buhari's movement and the "February Ululation". The February 14th elec-

polls. In midst of all these anti-democratic tendencies, the government of the day is carrying on as if everything were normal. The Yenagoa meeting of ex-militants in Government House with the presence of Governor Seriake Dickson of Bayelsa State and Mr Kingsley Kuka, the special adviser to the president on Niger Delta, is a tacit endorsement of the ugly disposition of these people routing for the balkanization of the country. A communiqué issued after that meeting threatened fire and brimstone should President Goodluck Jonathan not win the March 28, 2015 polls. This group of people argued that if the north succeeded in taking power in the election, the people of Niger Delta would take their oil maintaining that, `For every Goliath, God created a David. For every Pharaoh, there is a Moses. We are going to war. Every one of you should go and fortify yourself`. This is clearly a statement dripping with threat of war and aimed at decimating the corporate existence of the nation. These people should be sanctioned for they do not have the power to tell the electorate who they should vote for. • Julius Oweh, a journalist, Asaba, Delta State. 08037768392

tion was meant to provide hope for a long tormented and battered people and country. But the Presidency has kept sharp eyes for weakness in the APC and its Presidential candidate's collective armour. All their accusations against Gen. Buhari refused to stick. The postponement in itself is a shocking throw back to the IBB primitive interminable Transition regime time, which kept adjusting the goal posts until the dictator was himself adjusted out of power. Therefore, the postponement came with breathless speed and with crudeness, trickery and brutality, even to the nation's Constitution he swore to protect under oath. Elections to the national offices were usually, as defined by the Nigerian Constitution, must hold three months to the handing over date to the successor. That period had been fixed for February of every election year. President Jonathan the Commander-In-Chief is very much aware of this Constitutional provision and he, in fact had been canvassing for votes in readiness for February 14th. • Erasmus Ikhide (ikhideerasmus@yahoo.com), a Public Affairs analyst write from Lagos Nigeria

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As Jonathan visits war zone

ncouragement is oxygen to the soul, that was what played out last Thursday, as President Goodluck Jonathan abandoned re-election campaigns, to jet into war tormented Mubi and Baga. Dr. Jonathan mingled with the brave soldiers as they showed the sophisticated weapons captured from the insurgents. Decked in battle rig, the president also had time to address the troops, sitting like a generalissimo, on his swaggerstick. According to President Jonathan’s Special Adviser on Media and Publicity, Reuben Abati,” the president promised the soldiers that all issues pertaining to their welfare, will be properly and expeditiously addressed. He assured them that they will be duly rewarded for their bravery and patriotic service to the nation at the successful conclusion of ongoing operations against Boko Haram. Families of soldiers who have sadly lost their lives in battles against Boko Haram, will also be well provided for , the president further assured the troops.” The troops were intoxicated with patriotism, as the presidential spokesman put it,” the soldiers responded to the

president’s address with chants of ‘Never again’, assuring him that terrorists will never again be allowed to take and hold any Nigerian territory”. As the Commander –in- Chief of the armed forces of the Federal Republic, the bulk stops on the President’s table. He could have been accused of not visiting the troops earlier than now, but no one can deny him credit for making moves aimed at stemming the insurgency. While Nigeria was on fire, some erstwhile trusted allies, like the United States, shocked the government by refusing to sell arms to Abuja. The same US was quick to criticize the Jonathan Administration for not doing enough in the fight against terrorism. By flying to Mubi and Baga, the President has shown that he also has the interest of the brave warriors at heart. He had been accused of being insensitive to the plight of the soldiers, especially their welfare. Shortly before he made the trip, some of the troops in the frontline were rewarded with promotions, to ginger them to do more for motherland. That gesture, accompanied by the visit, will go a long way in changing the course of battle. The trip to the battle field is just like a continuation of Jonathan’s warm nature to-

wards the forces. Many may not remember that after national service, he had worked as a para- military man, with the Nigeria Customs Service[NCS]. The president does not shy away from the military uniform, as he adorned the rank of Field Marshal once again. Dr. Jonathan had previously worn the Five –Star rig during military functions. We recall that he had used the uniform of Marshal of the Airforc, and also Admiral of the Fleet, the Navy’s highest rank. This is interesting, for no Nigerian has ever won such ranks. In the first Republic, President Nnamdi Azikiwe preferred the police ceremonial dress for some military functions. In the Second Republic, Alhaji Shehu Shagari chose the blue of the Airforce, at least once. General Ibrahim Babangida loved to surprise everybody. On October 1. 1986, he wore the white of an Admiral. Subsequently, he would choose the Air marshal’s uniform. Brave Presidents make out time to see their troops in the battle zone. In 2012, American President Barrack Obama landed in Afghanistan to cheer up his troops. His predecessor, George Bush ,Junior had also visited soldiers in the same country. Three days before Jonathan’s tour of Baga,

President Ismail Omar Guellen of Djibouti was in Somalia to encourage his troops serving with the Africa Union Peace Keeping Mission in Somalia[AMISOM]. During the Falkland Crisis of 1982, the British Royal Family was fully involved. Prince Andrew flew several missions on the Malvinas Islands as a combatant. Last year, Prince Harry operated in Afghanistan. We salute the president for living up to his duty as Commander-in- Chief of the Armed forces. The visit must have offered an insight into what officers and men go through in defence of our nation. For once, it is possible for them to believe that they matter, especially, in this era of political propaganda. By wearing a camouflage, the troops would not see the President as one politician who stays in the cozy environment of Aso Villa, paying little attention to their welfare. They could be seen cheering their Commander-in- Chief and taking group photographs with him. With the Presidential boost, arrival of sophisticated weapons and the resolve of the troops never to lose an inch of territory, Nigerians should expect a decisive push to end the insurgency sooner than everyone envisaged.

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Politics

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Presidency: Where are 2011 candidates? CONTINUED FROM PAGE 17

how the nation should proceed to actualise the dreams of all its citizens. He had contested for the same office in the 2003 elections on the platform of the Justice Party (JP) before he formed FRESH in 2006, and became its national chairman and presidential candidate in the 2007 general elections, claiming a divine mandate. Shortly after the 2011 polls, FRESH was deregistered alongside other parties by INEC over poor performance. Okotie chal-

lenged the action in court, which ruled in his favour but the electoral body is yet to honour the judgement. The impasse over the deregistration may have forced him to quit the political stage for now to focus on his pastoral work at The Household of God International Ministries. Ibrahim Shekarau A former governor of Kano State, Shekarau emerged the presidential candidate of the ANPP while serving his second term in 2011, but polled 917,012 votes (2.4 per cent)

in the election to come fourth. He had then promised that his government will end ‘transactional politics’ and bring about ‘transformational politics’ if elected. When his presidential bid failed, Shekarau remained in the ANPP and was among the founding members of the APC, but had to jump ship to the PDP when his successor, Governor Rabiu Kwankwaso joined the opposition party. He had hoped on leading the APC in the state

on hold his presidential ambition.

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

but was displaced by his archrival (Kwankwaso). While his defection to the ruling party has since paid off with his appointment as Minister for Education by President Jonathan, it has equally put

Yahaya Ndu The Enugu State-born politician is another perennial presidential candidate who would not be part of the 2015 elections. He contested the 2007 and 2011 elections on the platform of the ARP. He polled 12,264 votes (0.03 per cent) in the last elections. Ironically, Ndu was among the stakeholders who applauded INEC, which made poor showings in the last elections. No doubt, he bid farewell to his

ambition to lead the country with the commendation, as he has not announced his membership of any other party since then. Pat Utomi Prof. Utomi completes the quartet from Delta State, who had wanted to occupy the highest office in Nigeria in 2011, but he bowed out on the eve of the elections after picking the presidential ticket of the SDMP. Despite his withdrawal, which was hinged on the inability of the opposition parties to adopt a single presidential candidate, he polled 11,544 votes (0.030) to come second from the rear. He had before 2011 contested the presidential poll on the platform of the ADC. The erudite scholar, who is the founder of Centre for Values in leadership (CVL) has dumped the SDMP for the APC, and is presently a member of the party’s think-tank. Rasheed Shitta-Bey The former national chairman of the MPP and presidential candidate, Shitta-Bey, got 16,492 votes (0.492 per cent) in the election, and took the 16th position. Shitta-Bey, who was a member of the House of Representatives in the Second Republic, defected to the APC. He said he decided to join the party because it is the party in the vanguard of transformation in the country. However, he needs not to be reminded that it would be herculean for him to actualise his presidential ambition in the APC, given the crowd of political heavy weights in the party. Iheanyi Nnaji The 2011 presidential candidate of the BNPP, who polled 47,272 votes (0.12 per cent), is another familiar presidential candidate missing in action in the forthcoming polls. Nnaji, who also contested the 2007 presidential polls, may have bid farewell to his ambition after the two failed attempts. Lawrence Adedoyin After two failed attempts – 2007 and 2011 in which he polled 23,740 votes (0.06 per cent) on the platform of the APS, Sir. Lawrence Adedoyin seems to have discarded his presidential ambition. Mahmud Waziri Waziri, the candidate of the PDC in the last elections, polled 82,243 votes (0.21 per cent). He is not contesting the coming presidential, even as his party is not fielding a candidate.

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Arts

n his silky and gentle voice, Kainebi Osahenye talked about his journey into arts and his last breath-taking exhibition. Is he just an artist or does he have another well-paying job and is doing it as a pastime? Has he always wanted to be an artist, or he stumbled on it? Why work with junks when there are paints? So many questions, but Osahenye was more than ready to answer all. “I can say that I am a very gifted person. I started when I was young, fiddling with stuffs and I ended up in an art school. I didn’t have any person who was an artist, though my mom was a bead maker. So there is a possibility that she had it in her,” he explained. Well gifted indeed, Osahenye, though majored in painting, makes installations, creates collages, sculpts, paints, does woodwork and in fact, everything art. “Often times I create installations, like the one you saw during the exhibition, which I titled Redemption. I pick stuffs, whatever it is within the environment, within the room so that the space becomes part of the work. For instance, I started a work using aluminium parts and it starts from the ceiling and runs down through the wall and overflows and collapses, overflowing on the floor. So the space within that wall is addressed, it is used. It is not like making a painting and putting it on the wall, the installation is also questioning the space, interrogating the space. It’s like an intervention. Most of them are sight specific, but some, you have to destroy when you are done or after the exhibition.” His works at the exhibition, which he titled Shifting Currents are a wonder to behold and intriguing. Using junks, specifically aluminium cans, he made an installation that, according to him, is meant to question the space where it is installed. He also has works made up of eyes alone and meant to address social issues. “In each exhibition that I do, I try to push further, I try to push the boundaries fur-

TONY OKUYEME tony.okuyeme@newtelegraphonline.com

THEATRE

Cycle of Life, Harvest of eyes in Osahenye’s curious canvas

Kainebi Osahenye is not your usual artist. Trained at the Auchi Polytechnic, Yaba College of Technology and Goldsmiths College, London, the all-round artist has continued to wow people with his exceptional artworks. EBERE AMEH was in his studio after his exhibition at the National Museum, Onikan, titled Shifting Currents.

Osahenye

ther. Whether it has to do with content or the material, I push further. In this one, it was the first time that I used photography in collaboration with other materials - infusing photography and aluminium cans. In previous ones I used aluminium parts, plastics, bottles and other materials. So there is a shape that is pushed forward, there is a change in material. And also, I think it’s about time we shifted our position and our state, where we are individuals or as a state or even as a country,” Osahenye said, adding that the eyes have been part of his painting process. “I have just been curious about the eye. In my paintings, I have always drawn eyes somewhere, it is always there. There were occasions where I have dominated the whole large canvas with eyes. And this time, I am painting them out, not like employing a photographer to photograph eyes for me as I have done in

One of the works on display in Shifting Currents

the past. It was while I was doing my masters, that I started thinking of how to use the eyes in photographic forms so that it dominates the entire surface and speak about the ideas that I was pushing then, which was repetition and congestion of crowded places. When I print them in their thousands, it is a repetition sort of and could be used for some aesthetic or so-

cial criticism purposes. It was interesting to me to begin to use that as a medium.” He recalled that his interest in using the eye as a medium of expression in his works started when he was studying abroad. Being the only black in a classroom filled with all white students made him feel different and alienated, until he found solidarity in the eyes. “There is the way people look at you when you are in a different environment – all white student environment and you the only black. When you walk into a room, all eyes will be looking at you. You feel so alienated and so different. I saw the eyes as some sort of solidarity. When I started making them, it was like I have people of my type with me. So I started making redemption when I was there. The eyes were like staring back at me, that kind of solidarity. “But in another sense, they are people that come from certain environment that you are familiar with. Sometimes, they are people that I know. I commissioned a photographer who took them for me. These people live within the neighbourhood. So they are real eyes, eyes of real people. Sometimes I ask him, whose is this and he is like it’s for the mechanic across the road. So it’s interesting to know that these are real people in real communities. And so putting them together, one is addressing social issues like Cycle of Life or Harvest. So one thinks that these people know what you are talking about because they live within your environment, where you are addressing your question to.” For him, it is also like a motif to question issues. “I do that a lot. I take the head for instance, just rotate the head and that questions crowdedness or people in a queue – queuing for fuel or kerosene; it could be a silhouette of people that are lined up. I see the eye also as a motif that I use to address certain issues. The eye for me is one curious thing that I am exploring. It is very wide because the eye, they say is a window to the soul and you know what CONTINUED ON PAGE 22

Arts

Tony Okuyeme

he 9th Jos Festival of Theatre opens in the tin mining city on Tuesday March 10th with dance performances and speeches, rounding up with a performance of King Hedley II, a play by August Wilsons. King Hedley II is a monumental story on the struggle of a Black youngman who has come out of prison and is back home with his mother and wife. He detests his mother whom he accuses of abandoning him to the care of his Aunt Loiuse. Elmore, the mothers’ boyfriend of many years, appears but King has a grudge to grind with him – the last time Elmore passed by their town, he sold him a defective wrist watch. Tonya is pregnant but does not want to have the baby as there is no guarantee that King Hedley II will not go back to jail leaving the child fatherless. King disagrees because with his childhood friend, they are about to open a video shop. In the end, Elmore reveals to them all that he had killed King’s father and that the man whom King had always thought was his father was not. In the build up to either forgiveness or vengeance, something happened. The next play being presented is Adinoyi Ojo Onukaba’s Body Parts where a group of unemployed young men creates jobs for themselves by selling their body parts. They had already sold one kidney but they were duped of the proceeds by a wonderbank where they had hoped

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

to double the money. They sell the second kidney but the family they sold it to has a history with the unemployed men dating back two decades. The third play is Jacinto Benavente’s The Bonds of Interest. Two young men delight in duping people. They have fled their town and arrive in another town posing as rich men. They have come to scam the town’s richest man by marrying his daughter in the hope that when the rich man dies, they would inherit his property and wealth and pay off their debts. The plan backfires as one of them instead of pretending to fall in love actually falls in love setting in motion a chain of events where the law eventually catches up with them but they are able to bribe their way through pledging their soon to be inherited wealth as collateral. Barclays Ayakoroma’s Castles In The Air which examines the age-old prejudices against inter-tribal marriages, is the next play for presentation. In Castles In The Air, Aminu has been asked to get a wife and if his wife is able to conceive and give birth to a son in the next one year, they will be given N10m. The challenge is to get Aliyu to agree on who to marry as he is a youngman about town and his father’s friend, Chief Emotari comes into the picture with his niece, Stella. Eventually the plan backfires as the unfortunate happens to the person who should have provided the money to the couple. The final play of the festival is Sefi Atta’s Last Stand. Gen-

Jos Festival of Theatre opens with Wilsons’ King Hedley II

Jos Repertory Theatre in perfomermance

eral Mashood is on his death bed. He has had three wives – none of them is living with him. He is being cared for by his sister. He desires his son to be his heir. His son has refused the offer leaving his daughter, a lawyer whom he considers weak to be in charge of his estate. He has already changed his will several times but time is fast running out – what does he do and how will the

Harvest of eyes in Osahenye’s art CO NTINUED FROM PAG E 21

the soul is to us. The depth of the soul, you cannot question it. “Cycle of Life shows that we are born, we live and as we die, more are born and the cycle continue. The eyes in the work represent human beings. In the work titled Community, the eyes take the form of a fabric. A cloth can represent a people. For instance, when we mention kente, what comes to mind readily is Ghana. So I’m thinking of that in this work. “While in the Harvest, the eyes form a tree, which according to the artist, is a symbol of growth, rebirth, regeneration and abundance, The Field of Stars portrays the fact that we are all stars. We are born stars and we can all shine if we want to. There is also the geometry aspect of it that I was interested in. The lines cross into one another, they relate to one another and that is connectivity – the fact that we are interconnected,” Osahenye explained. In Face me I face you, the artist deals with behavioural attitudes, the confrontational tendency of people living in the slums of Lagos. “The concept came from the architectural dwellings that we have in Lagos – the face me I face you that make us become confrontational.” Talking about his latest crave for junks, he said, “I am looking for a way to go beyond

painting that requires paint and brush – the conventional materials. I was thinking of how to make a painting without brush, without paint? I started using my left over paint tubes, but after a while, that became difficult to find because you have to use a lot of paints. So I was in a hotel in Auchi where I found a dump site and I saw some cans that were burnt. So I got somebody to gather them and I realised about seven bags. The feeling I got from it was like a war torn zone – feeling of destruction, anguish of grief and despair. So I thought that is something that carries a heavy emotional thing and that was how I start-

ed using cans. You can see that there is a shift there – I stopped using conventional materials because within those cans were colours already – their brand names has colours. With coca cola red, and sprite green, etc., and all the colours are readily available and what one needed was to have a composition that could marry these elements together and generate something good. It is a deliberate attempt to realise something other than making things with materials that you can buy from an art shop.” Osahenye has done well as an artist. He advises those artists who are yet to find their feet to remain focused and

issue of his estate be resolved. There will be workshops and dialogues during the daytime with all performances starting at 4.30pm. The venue of the performances is the expansive premises of the Alliance Francaise, Jos. The festival is receiving major support from the US Mission Nigeria alongside Grand Cereals Limited who has supported the festival

consistent. “I have artists who are assistants in my studio and what I tell them is that art is a very tough discipline. Art is not just a career, it is a life. If you decided to be an artist, you have to also decide to weather all the storms. When you are not selling anything, you have to still remain there and maintain your integrity. You don’t have to sell your soul. Most people tend to give up in the sense that they begin to dance to tune of the collector or buyer. “When you sell a painting, make sure that half of that money that you get goes into your material. So when you have a material that will enable you make a painting for a long time

before you can sell again. More importantly is making up your mind to stand and remain consistent. Whether the rain is falling or sun is shining, whatever it is, you just want to be an artist. I made that decision when I was in school. Then art wasn’t selling. The main art works of renowned artists then was selling for between 500 and 1000 in exhibitions. But I decided that it is not about money, it is a calling. I made up my mind that I will be an artist, I will be and remain an artist come rain or shine. Once you make that decision and you are conscious about it and you work towards it, I think you will overcome all the hurdles,” Osahenye said.

Miss Creative Arts UNILAG to celebrate with orphans Ebere Ameh

he 14th edition of Mr and Miss Creative Arts Unilag are up for a novel initiative that will see the orphans laughing and dancing. 19-year old Deborah Yisah (Miss Creative Arts), together with Victor Owa (Mr Creative Arts) are using their title to work on a charity program to assist the orphans, using Arts to show love. Speaking with The New Telegraph, Yisah said she is dedicating it to her mother

who suffered as an orphan. “Mom lost her parents when she was young. She and her siblings ended up being brought up by different people. Her story is very touchy. It is not easy to live without ones parents. Though she survived, she lost her younger sibling. She asked me to write about it. Because of her experience, which is touchy, I will always do my best anywhere I am to help the orphan,” Yisah said. An innovative project, they plan to bring children from 14 orphanage homes in Lagos, on

the 14th of March, under the same roof at the Department of Creative Arts, Unilag, for unlimited fun like never before. “There’s going to be lots of activities on that day. There will be stage drama, comedy, singing, learning and everything under creativity. There will be dance, performances, red carpet and all sorts. We shall teach them lots of stuff and basically make them feel loved and special. “There shall be something like a tent so people could

come and drop what they have for them. Though attendance is free, people are expected to bring gifts for the orphans to be part of the programme. So basically, the gate fee to enter inside the hall is your gift for the children/homes, like any gift you put down will make u enter the hall. And don’t forget there’ll be lots of refreshments too. It’s going to be all entertainment; it will be like taking them to the movie. So, step forward for the orphans and walk the red carpet for love,” Yisah enthused.

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

Interview

Counseling

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Education

Onyeji’s rescue pill for ESUT STEWARDSHIP

Few weeks to the expiration of his tenure, Prof. Cyprian Onyeji has given his administration’s scorecard as the ViceChancellor of Enugu State University of Science and Technology (ESUT)

Kayode Olanrewaju

hen the Enugu State University of Science and Technology (ESUT), was established some years ago, its founding fathers had at the back of their minds, among others, the desire to lay the foundation for excellent university education that would drive the vehicle of technological development of the country. But as laudable as the vision was, achieving the objective, over the years has not been a smooth ride as the university has gone through harsh times due to inadequate funding, infrastructural collapse and shortage of facilities, which at a stage of its development were all begging for attention. That was the sorry state of ESUT before Cyprian Ogbonna Onyeji, a Professor of Pharmaceutical Chemistry was named the substantive Vice-Chancellor of the institution in 2010. On assumption of office, his major challenge was how to fix the university and position it as one of the leading institutions of excellence in research, academic and community service. However, the Vice-Chancellor, who will bow out of office in the next few weeks, took up the challenge of placing the university on the world map of the 21st Century University, and less than five years, the efforts, time and

kayode olanrewaju Editor, education

kayode olanrewaju@ newtelegraphonline.com

ESUT gate

resources invested on restructuring the Ivory Tower have continued to yield fruitful results. Onyeji, who was conferred with the National Award of Order Of the Niger (OON) by President Goodluck Jonathan in recognition of his sterling contribution over the years towards transforming and repositioning ESUT among the league of the best universities in Nigeria, anchored his administration’s developmental strategies on the six-point agenda initiated for the university. Recalling that he inherited an institution which was at its lowest ebb and that was craving for development, the Vice-Chancellor said the university’s developmental stride which was tied mainly to the six-point agenda, took cognizance of the workers’ welfare for them to key into the new vision, so as to make agenda work. “Having taken critical appraisal of the university in terms of its deficiencies in physical and academic development, and the need to move the institution forward in line with the way a university should be run, the sixpoint agenda was developed to

...We introduced the Distinguished Teacher Award (DTA) as a way of motivating and rewarding excellence in teaching

actualize the goal of repositioning the Ivory Tower,” Onyeji said. The critical areas of focus as encapsulated in the well-thoughtout and well-articulated six-point agenda aimed at redressing the deficiencies, according to the Vice-Chancellor, include the pursuit of academic excellence, rigorous drive for improved funding; development and maintenance of infrastructure; staff development and welfare; student welfare and discipline and quality management of the university. The pursuit of academic excellence, which Onyeji said the management considered very germane to the overall growth of ESUT captured the academic programmes, redesigned in line with the national goals and need to reposition the institution as a 21st Century university. Under this, he explained that academic programmes in all departments were reviewed to reflect national needs, while new programmes were introduced in the bid to satisfy the needs of the country in the area of technological development. Some of the new academic programmes include the De-

partment of Computer and Information Science; Department of Anatomy; Department of Medical Laboratory Sciences and Faculty of Pharmaceutical Sciences and a number of new postgraduate programmes. The Vice-Chancellor, who noted that apart from the degree programmes, non-degree certificate and diploma programmes that are need-driven and targetoriented were also introduced primarily to satisfy skills requirements of the country. He said: “As part of the pursuit of academic excellence we strengthened the teaching and learning components, where the quality was vigorously enhanced by boosting the teaching and learning process with ICT. The university now has a wide and effective Internet WIFI with bandwidth increased to 20MB/20MB. “In line with this, we introduced the Distinguished Teacher Award (DTA) as a way of motivating and rewarding excellence in teaching. This has been carried in the last two years, with the students and members of staff selecting the lecturer for CONTINUED ON PAGE 28

24 Education

LASPOTECH endorses MoU on science centre

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

Bida poly admits 10,000 students

Kayode Olanrewaju

etermined to enhance quality tuition, especially in the areas of science and technology, the management of the Lagos State Polytechnic (LASPOTECH), Ikorodu, Lagos, last week inked a Memorandum of Understanding (MoU) on Deed of Gift with the Ikorodu Division Resource Development Group (IDRDG) for the building of the Late Prof. Anthony Adegbola Science Centre on the Ikorodu Campus of the polytechnic. The document was signed by the Rector, Dr. Abdulazeez Abioye Lawal on behalf of the polytechnic and Prof. Adebayo Ninalowo, the Chairman of IDRDG on behalf of the group. To facilitate the take-off of the Memorandum of Understanding, about three hectares of land was officially allotted to IDRDG after due process of approval by the Lagos State Government for the project. Ninalowo on behalf of the group expressed profound gratitude to the polytechnic management for the collaboration, which according to him, would be a huge contribution towards academic development of the polytechnic, its host communities Lagos State as well as the country at large. Part of the objectives of the science centre is to immortalise the late Prof. Anthony Afolabi Adegbola in recognition of his immense contribution to the development of science and technology in the country, as well as promote further development of the fields of study. “His good works cannot be swept under the carpet. Hence, there is an urgent need to encourage new generations of scholars to embrace science with a view to making maximum impact in the field,” the Rector said. Members of the group present at the ceremony were Prof. Kunle Ade Wahab; Mr. Kayode Shoderu, an engineer; Oloye Oye Solebo; Alhaji Babatunde Rotinwa; Mr. Saheed Ibikunle; and Mr. Taiwo A. Kara, an architect.

Lawal

L-R Mr. S.T Yekini, Principal Assistant Registrar Students’ Affairs; Mrs. H. Aladuge, Asst.Director NYSC; Mr. A. Akhanemhe Cyril, Coordinator of NYSC; Prof. Kabir Akinyemi, Dean of Students’ Affairs; Mrs. Ronke Osho, Director, Centre for Information, Press and Public Relations of LASU at the press briefing for prospective NYSC members of the university.

Dan Atori MINNA

o fewer than 10,000 students have taken the matriculation oath of the Federal Polytechnic, Bida for the 2013/2014 and 2014/2015 academic session for National Diploma (ND) and Higher National Diploma (HND) programmes. Giving the breakdown of the students, the polytech-

nic Rector, Mr. Abdullahi Sule, said the matriculating students were admitted into 23 National Diploma and 35 Higher National Diploma programmes. The Rector, an engineer, while addressing the students during the matriculation ceremony, said the institution decided to merge the two sets of admission together in order not to leave out some students. “During the last ASUP strike of about ten months,

the Joint Admissions and Matriculation Board (JAMB) offered two sets admission and the management decided to offer admission to some of the students in order not to marginalize them,” he said, adding that “this is what many other federal polytechnics have done because we didn’t want to leave them without engaging them.” The Rector further said that the institution is embarking on expansion and

building of classrooms to accommodate the newly admitted students, noting that the number will not in any way affect the conduct of examinations as it would be adequately staggered.” Sule urged the students not to engage in any form of vices or anti-social activities such as cultism, examination malpractice and drug abuse, even as he stressed that any student found engaging in such vices will be expelled. The Rector, while restating that the polytechnic has zero tolerance for all forms of anti-social behaviour, however implored the students to face their academics as any student found wanting academically will be sanctioned. Sule, who noted that the matriculation ceremony would be the last he would conduct as Rector of the polytechnic, expressed gratitude to the management of the institution and all members of the Academic Board for their support and contributions to his tenure as the Rector for the past eight years. He implored them to extend support to his successor, who is expected to take over the reins of the institution in April.

Anambra monarch donates books to UNN

monarch in Anambra State, the Obi of Onitsha, Prof. Alfred Achebe, has donated 10 copies of his books to the University of Nigeria, Nsukka (UNN), as part of moves to enrich the university library. Presenting the books to the ViceChancellor, Prof. Benjamin Ozumba, at the Vice-Chancellor’s Conference Room, the traditional ruler explained that the books dwelt on the history of Onitsha, its contribution to the development of the country, especially in the field of education, and how the city successfully combined modernity with culture to achieve economic growth. The donation of the books to the university, according to the monarch, marked the beginning of the journey of the books to all the universities in the South-East. The Obi of Onitsha, however, said the books would go a long way in helping to boost research and historical findings about Onitsha kingdom, its culture and justice system. He said the proceeds from the launch of the books were donated to Onitsha Advancement Foundation, which was established to drive the strategic transformation of Onitsha into the 21st Century metropolis. Igwe Achebe, therefore, congratulated the university management for the ongoing transformation in different aspects of the institution, pointing out that the university was better in all ramifications when compared to the last time he visited the Ivory Tower. The Vice-Chancellor, while receiving the books on behalf of the university, thanked the monarch for his interest in the development and growth of the institution as well as his progres-

The Obi of Onitsha, Prof. Achebe, handing over copies of the books to the Vice-Chancellor, Prof. Ozumba during the visit.

sive coperation with his administration. “To us at UNN, His Royal Majesty is not just a royal father in Igbo land, but a leading one on a throne of a long tradition of monarchical institution with verifiable records”, Ozumba said. The Vice-Chancellor noted that the monarch’s reign had advanced the synergy between tradition and modernity as instituted by his forebears for the development of the commercial city of Onitsha.

Ozumba noted that the contributions of the Obi of Onitsha in the meetings of leading traditional rulers in the country had “continued to give psychological satisfaction to every Igbo man and woman.” The Vice-Chancellor, while pledging his continued commitment towards fostering a healthy relationship and link with the monarch and the kingdom, appealed to the traditional ruler to sustain his age-long relationship with the university.

Education | Interview 25

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

From Campus Director to the Vice-Chancellor of the National Open University of Nigeria (NOUN), Prof. Vincent Ado Tenebe has seen it all at the pioneer Open and Distance Learning (ODL) institution in West Africa. In this interview with MOJEED ALABI, he bares his mind on the role of the university in addressing the challenge of access to tertiary education, rejection of its graduates in the NYSC scheme and Law School, among other issues.

What is the status of Open University of Nigeria? Well, we cannot discuss this without tracing the foundation of the university. It will be recalled that the National Open University of Nigeria (NOUN) was first established in 1983, but was later abandoned sometime in 1984, before it was reintroduced in 2001. At the commencement of operation, the university had pioneer student enrollment of about 32,000 with a lot of teething problems which forced many students to abandon their programmes. That was not unusual of a programme just commencing because then the university had few study centres. Today, the story has changed completely and thanks to the solid foundation laid by the pioneer leadership, that is, my predecessor. The university now has about 61 study centres spread across every nook and cranny of the country. Currently, the university has a population of over 120, 000 student, and we are recording landmark achievements in all spheres of our development. It will interest you to hear that NOUN was recently rated seventh position among universities in the country and 86th in Africa by the Webometrics World Universities Ranking. Some stakeholders see NOUN as an unserious university meant for working class who study only for the sake of certificates. How do you respond to that? That is an erroneous impression and it must be corrected. National Open University of Nigeria like every other global institutions running open and distance learning educational system is not only a standard university, but one that competes keenly with its global counterparts. We must emphasise the fact that as a member of the African Council of Distance Education (ACDE) and the International Council of Distance Education (ICDE), NOUN is complying with global standard

Open varsity system has come to stay â&#x20AC;&#x201D; NOUN VC ogies you could go online and get educational resources for any course you are studying or you can go online and take courses online without necessarily looking for permission as long as you will acknowledge the original developer and this is trying to simplify education. In terms of quality, our materials are designed using all the quality assurance methods approved by various accreditation bodies. With new applications we just introduced, you can go online even with your phone and read, so it is a way we are trying to explain to our students and to the whole world that we are making learning easy, flexible and interesting. Today, apart from reading the print copies of our materials, our students could also download applications that will give them access to soft copies and also interact with scholars across the world on various topics. In fact, there is a platform on our portal where candidates can relate very well with their lecturers, and one thing about this university is that all our candidates are computer literate. If you are not computer literate, you are not our student because right from registration point, everything is online.

Tenebe

of open and distance education system, and we offer quality education like any conventional university in the country. The only thing that differentiates us from the conventional institutions is the channels of learning. And that is, our flexibility in terms of teaching and learning. NOUN relies heavily on Internet facilities and our study centres across the nooks and crannies of the country are for proper coordination. Learning, globally has been modernised and we cannot continue to live in the past where classroom setting was only face-to-face. If Nigeria were to continue in that manner, then access to tertiary education by many Nigerians will continue to be a mirage. Or how do you explain the situation where over 1.6 million candidates sit for the Unified Tertiary Matriculation Examination yearly, but only 400,000 are admitted? What happens to the rest? Closing that wide gap is what NOUN has come to do, and whether we like it or not, it has come to stay as the new face of education in the country.

Learning, globally has been modernised and we cannot continue to live in the past where classroom setting was only face-to-face

The fear of the stakeholders is that the quality of NOUN education is in doubt possibly due to non-availability of facilities and the poor computer knowledge among Nigerians. What is your reaction? We have restated our commitment to standard and qualitative education, and we cannot compromise that. There are laid down procedures to be met before an institution is accredited by both local and international regulatory bodies and I am glad none of these bodies have found us wanting at any point in time. What we have done today is by partnering the United Nations Educational, Scientific and Cultural Organisation (UNESCO) to teach the modern distance learning technological needs, in continuation of our desire to grow. The five-day workshop, which is on Open Education Resources and Massive Open Online Courses (MOOCs) is to build our staff and management with the required skills to teach and relate well with their candidates. With these technol-

The Nigerian Law School and the National Youth Service Corps (NYSC) have been denying NOUN graduates opportunities to take part in their programmes. What is the situation now? We are working assiduously to get these issues addressed. There are times where people do not have access to adequate information, and the result is that they act based on the little they have which may not be correct. We have restated it at different fora that NOUN is not only a full-fledged university but also one that competes keenly with her counterparts globally. The leading open university in the world, which is in the United Kingdom (UK) does not experience this kind of discrimination and we are sure we will also overcome it very soon because stakeholders are not sleeping over it. I need to let you know also that in the case of our Law students, the universityâ&#x20AC;&#x2122;s Law programme was duly accredited by the National Universities Commission (NUC) and we are only awaiting the Nigerian Council of Legal Education to do its own part. We must note that these same NOUN Law students defeated all universities in Nigeria by winning the 2013 Moot Court competition and represented the nation overseas in the international competition. Where do you intend to see NOUN in the next decade? In the next 10 to 15 years, NOUN will be one of the best universities in Africa.

26 Education

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‘NYSC scheme, a unifying factor’ Dominic Adewole ASABA

“T

he National Youth Service Corps (NYSC) scheme is one of the best initiatives that have happened to the country; it is a scheme that has continued to unify the people at this time of political differences.” With these words, the Permanent Secretary, Directorate of Government House and Protocol in Delta State, Mr. Benson Oburoh, discharged the Batch ‘A’ corps members deployed to the Government House, Asaba, for their one-year

compulsory primary assignment. The Permanent Secretary, who said that NYSC has remained a unifying platform for the youths in the country to showcase excellence in their various fields of study, urged them to be good ambassadors of the state anywhere they found themselves. Speaking at the send forth revelry organised by the Directorate for the corps members, he explained that the scheme, which had created the opportunity for individuals from across the country to experience and appreciate the diverse cultures especially given our present political climate,

had helped many graduates to be self-employed. While he lauded the outgoing corps members for their exemplary service to the government of the state, Oburoh, who represented Governor Emmanuel Uduaghan at the event, charged them not only to be selfreliant, but to also put the entrepreneurial skills acquired during their youth service in the state into use rather than wait for the nonexistent white-collar jobs. He said: “The rate of unemployment in the country is high, so I advise you to take up the challenge of creating job opportunities for yourselves rather than sitting idle and waiting for

white collar jobs. I urge you to be ambassadors of the state and portray its positive aspect wherever you find yourselves. The Chief Protocol Officer, Mr. Kingsley Olumukoro, commended the outgoing corps members for the people-oriented service they rendered to the state and advised them to be resourceful and focused in their future endeavours. Responding on behalf of his colleagues, Izuagba Tochukwu, one of the corps members, expressed gratitude for the warm reception accorded them throughout the service year, promising not to betray the confidence reposed in them by the state.

Oburoh addressing the corps members during the send-forth reception

EKSU centre for gender to complement teaching, learning

he Centre for Gender and Development Studies of Ekiti State University (EKSU) has risen from a one-day ‘train-the-trainers’ workshop with the need to complement the teaching and learning system with valuable knowledge of Gender Mainstreaming. According to the Director of the Centre, Prof. Olabisi Aina, gender mainstreaming has become a practice in academic, socio-political and economic order in first class institutions all over the world. She noted that first class universities all over the world had integrated gender mainstreaming and its values into the curriculum of the various faculties, and that the state university could not afford to lack behind in this direction. Meanwhile, a Clinical Psychologist and a staff of the Centre for Gender and Development Studies, Dr. Toyin Ilesanmi, said that the approach was not to elevate the female over the male gender, but to achieve a balance in the improvement of learning ability of both gender. Also, another Psychiatrist and Clinical Psychologist from the Obafemi Awolowo University Teaching Hospital, Dr. Boladale Mapayi noted that lecturers and university managers should be aware of the differences and similarities between male and female gender with a view to refocusing teaching methodology and pedagogy. The high points of the workshop were questions and answers session, as well as group works by the participants which included deans and heads of departments.

Skyflyers School proprietor makes case for science education Kayode Olanrewaju

orried by the low interest in science education in school, the Director of Skyflyers International School, Ibafo, Ogun State, Mr. Asuoha Chijioke, has said the government has a greater role to play in reviving students’ interest in science and science-related subjects. This was as he noted that the government should accorded more attention to science teacher education, saying science teachers are grossly inadequate to meet the need of science education in schools. “The country should go beyond mere formulating worldclass basic science and technology curriculum, by training personnel who will translate those finest curricula to effective teaching and learning contents,” he said. Asuoha, who said until this is achieved, the nation’s dream of becoming one of the best economies in the world by 2020 and 2050 would only be a mirage, urged the young ones

to brace up, work hard and develop interest in science education. He disclosed this at the grand finale of this year’s edition of the School Annual Science Week, held on the school premises. While welcoming guests and pupils to the event, the Assistant Director and wife of the Director, Mrs. R. Asuoha, said

the school, which primary arm was established on September 25, 2006 and the college on September 28, 2009, instituted the Science Week to imbue the value of science and technology in the students, and for them to embrace the learning of science and technology. She said: “This is an eloquent testimony to the high premium the school manage-

Some of the pupils during one of their presentations.

ment places on science and technology education which is the bedrock of development of any nation. The annual science week is being sustained by the school in order to arouse the interest of our children in empirical enquiries into nature through observation, analysis and experimentation of which the various activities of the week are set to achieve.”

Part of the activities of the week include a novelty match, inter-schools science/technology quiz, science spelling drill, science debate, student media talk-show on science, science/ technology exhibition, and science talk on “Science, Youth and National Development.” In the science talk, the Head of Science teacher of the school, Mr. Patrick Okere, spoke of the urgent need for a national science conference to showcase science discoveries, if the country would not remain on the back seat of technical advancement. Towards this end, he insisted that the government should come up with deliberate policies that would encourage teaching and learning of science at primary and secondary school levels. Apart from this, Okere also suggested that parents should encourage their children and wards to embrace science and technology through provision of instructional materials and other learning facilities for them.

Education

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

Ajasin varsity VC pledges improved staff, students’ welfare Kayode Olanrewaju

arring last minute change of mind, the Vice-Chancellor of the Adekunle Ajasin University, Akungba-Akoko (AAUA), Prof. Igbekele Ajibefun, is set to enhance the welfare of the workers and students. He made the pledge at a separate meeting with members of the university community, comprising the academic, non-teaching and student leaders of the institution. Ajibefun, who assumed office as the substantive Vice-Chancellor of the state-owned university last months, following the expiration of Prof. Femi Mimiko’s five-year tenure and who bowed out of office on January 4, however promised to consolidate on the university’s achievements, and that of his predecessor. The Vice-Chancellor, who expressed the determination of his administration to reposition the university solicited the workers and students’ cooperation to collectively move the institution forward. He stressed the need for all hands to be on deck in order to consolidate and improve on the legacies of the outgone administration. Ajibefun said: “I am here as ViceChancellor to consolidate and sustain the legacies of scholarship ethics, academic excellence, high discipline tone, as well as international exposure and the beautiful ambience of the campus. I will build on what is on the ground such that the image the university had attained will not go down, but continue to soar higher. That is my vision and mission. “The level of the infrastructural

Former VC, Prof Mimiko (3rd left), Ajibefun (4th left), his wife, Bosede (5th left); immediate past Chairman of the Rufus Giwa Polytechnic Governing Council, Dr. Laoye Adegoke (6th left) and other dignitaries at the send-off ceremony organised for the new VC by the polytechnic

development is unprecedented. And because it can never be enough, I have come to add to it. Achieving all this will not be possible if we fail to work together as a team. By the Grace of God, we are going to work with one spirit and move in the same direction of progress and development. “I want to implore you to cooperate with me and the management and I want to assure you that hard-work, excellence and scholarship will be rewarded. Let us put in our best so that the university and the society can be better for it. Let us maintain the peace and stability in the university community.” While reassuring them that his administration would add more value to the university and the society in general, Ajibefun expressed determination to run an open-door administration, even as he insisted that decisions that would promote the university and indi-

viduals and the ideals of a 21st Century University, will be vigorously pursued. The Vice-Chancellor, who lauded the Prof. Mimiko-led administration for the enduring legacy put in place, said: “Permit me to say that AAUA has become a place of pride where everybody wants to be. And I want to commend your efforts in piloting the university to its present enviable heights.” Ajibefun, who praised the workers for their hard work and dedication, encouraged them not to rest on their oars, even as he said his administration would sustain the culture of rewarding excellence among the staff. He, therefore, encouraged the staff to come up with innovative ideas that would enhance university’s excellence, as he expressed gratitude to the Ondo State Government for investing heavily in the university. In another development, the Vice-

Uduaghan condemns missions over decay in returned schools Dominic Adewole ASABA

elta State Governor, Emmanuel Uduaghan has berated missions that refused to put the schools that were returned to them by the state government to good use to return such schools to the government. The Governor was visibly worried that some of the model schools in which his administration spent several billions of naira to rebuild were fast decaying after they were handed over to the missions.

According to him, substantial part of the N50 billion bonds the state accessed from the stock market was committed to school projects through the government interventionist programme, the Directorate of Infrastructure. The governor, who said this at Aboh in Ndokwa East Local Government Area of the state, while commission a 14.7-kilometre link road to the main-town, and school projects, lamented the condition of the Mary Magdalene Grammar School, Ashaka, one of the model schools recently re-built and returned to the mission built by the

The newly inaugurated Umeh Primary School building

government. Uduaghan, who did not only expressed disdain about the state of decay of the schools, but also directed the Commissioner for Basic and Primary Education to liaise, without further delay, with the missions whose schools were laying fallow to hand over them back to the government. He said his administration would not fold its alms and watch such facilities to waste having spent huge resources on them in order to provide quality and affordable education to the citizens of the state.

Chancellor counselled the newlyelected students’ union leaders of the institution to embrace peace, dialogue and remain focused in their relationship with the management. Ajibefun, while congratulating them on their election and charged them to provide responsive, responsible and quality leadership, counselled them to work in harmony with the management towards ensuring that the tradition of peace and stability for which the university has been noted is sustained. The Vice-Chancellor, who gave the advice at the swearing-in ceremony of the Students’ Union leaders for the 2014/2015 session, reiterated the need for the students to uphold the university’s culture of excellence, which has made it a toast of peaceful unionism, stable academic calendar and, consequently academic excellence.

Foundation lifts Lagos schools Mojeed Alabi

he Nigerian Turkish International Colleges Foundation, a non-governmental organisation, instituted by the Nigerian Turkish College, a private school located in Lagos and Abuja, has donated educational materials valued at about N200,000 to the pupils of St. Peters’ Anglican Nursery and Primary School, Ikeja. The gesture is part of the Foundation’s corporate social responsibility initiative to contribute toward the education of the society. The items donated by the Foundation included packs of exercise books, Mathematical sets, notebooks, pencils and nutritional items, among others. While handing over the items to the school, the Director of the Foundation, Mr. Fettulah Celik explained that the Foundation, which was established 2013 with the aim of providing services to humanity in order to minimize the level of hardship in the country, was concerned about the education of kids. Speaking through the Principal of Nigerian Turkish International Colleges, Opebi, Lagos, Mr. Yunus Emre Dogan, Celik noted

that the Foundation will in no distance future extend the intervention to other schools in the state. In her response, the Lagos State Education Commissioner, Mrs. Olayinka Oladunjoye restated the need for individuals and private organisations to partner the government at all levels to raise the standard of education in the country. The commissioner, who was represented by the Permanent Secretary in the ministry, Mrs. Omolara Erogbogbo thanked the donor for the gesture and urged other organisations to toe similar path.

Mrs. Oladunjoye

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C O N T I N U E D F R O M PA G E 2 3

the award. In the 2012 edition of the programme, the winner received a cash gift of N3 million through bank sponsorship. “Besides, the university also rewards academic excellence among the students, under the scholarship scheme instituted by the management to reward students with Cumulative Grade Point Average (CGPA) of 4.50 points and above. The students are referred to as ‘University Scholars’ and no fewer than 20 of such students have become beneficiaries in the last matriculation ceremony.” Onyeji, who noted that another primary aspect in the pursuit of academic excellence is research, said the quality and volume of research in the university had increased tremendously through the agenda. While saying that ESUT’s research base has greatly been promoted through international collaborations with numerous foreign universities, the Vice-Chancellor listed such academic partnership to include those with the University of Northampton (UK); University of Reading also in the UK; Glasgow Caledonian University, Glasgow; Girney American University, Cyprus and University of Boras, Sweden, among others which already have been initiated. All these strategies, he explained, were aimed at ensuring and encouraging members of staff to link up with their colleagues outside the country with a view to developing and

Afolabi Aminat UNILORIN

tudents of the University of Ilorin (UNILORIN), Kwara State last week trooped out amid frenzy and jubilation to mark the completion of their examinations and the end of the first semester of 2014/2015 academic session. It was completely a joyful mood, the one of freedom and happiness which were the clear expressions of the students after weeks of strenuous night reading which usually characterised semester examinations. Throughout the examination period there was absence of fun, merry

Onyeji’s rescue pill for ESUT improving the university’s research base. To this end, Onyeji said the Senate Committee on Research Planning and Grants was strengthened to improve skill in writing of research grants proposals. He expressed satisfaction that with such moves, all the departments could now boast of appreciable level of research materials and facilities which were procured through funding from Enugu State Government, the Tertiary Education Trust Fund (TETFund) and other intervention agencies. He, therefore, urged the lecturers to tap the research facilities and fund, as well as the well-equipped laboratories and library with current collection of books and journals and the electronic database to enhance research development of the university. As part of efforts to foster research development and improved tuition, he noted that departmental and faculty libraries had also been stocked with current books and journals as well as e-resources. Onyeji, who will perform his last convocation ceremony as Vice-Chancellor of the university on March 21 (16th convocation ceremony), recalled that through the transformation initiatives of his administration in the past few years, the university was ranked as the second best state university in

Onyeji

the country. To enhance the university’s revenue generation, the ViceChancellor recalled that his administration with the support of the Council established the ESUT Ventures, which raised the institution’s income profile through management of the ESUT Bookshop, collection of rents from the university’s properties. “We are in the process of establishing an ESUT Printing Press and ESUT Microfinance Bank with the support and approval of the Council to generate fund for the university,” he added. With the vision to transform the institution and leave behind a lasting legacies, the outgoing

UNILORIN students end semester amid jubilation making or social activities on campus as the students were busy with their books and practicals, spending most of their days and nights either at the library or other ‘self-made’ reading hideouts. All forms of activities and social engagements that could cause distraction were kept at bay, because irrespective of students’ scholastic ability, every student was busy striving to pass. To the students, one thing is important: the results of the examinations are crucial yardsticks for

Some of the students on their way out of the campus

monitoring the students’ academic progress and determining their grades at the end of the studies. The students, who recalled their experience in the past few weeks, spoke of their plan to travel and visit their families with a view to having some fun after the examinations. True to the students’ plans, the campus and hostels which used to be a beehive of activities were as silent as graveyards as the students in their thousands had already vacated their hostels for the one-week semester break.

Vice-Chancellor, spoke of how his administration launched a N10 billion infrastructural development fund to raise the level of infrastructure in the state university. Onyeji said no fewer than 15 buildings under various stages of construction were being executed through various funding interventions, including student hostels, faculty buildings and the library, while several new faculty buildings are coming up. On the need for expansion of academic facilities, he noted that additional classrooms and lecture theatres were constructed as well as annexes for the Department of Natural Sciences, Faculty of Environmental Sciences, while construction activities were going on at the Open Distance Learning Centre, as well as the Centre for Entrepreneurship Studies and the Faculty of Mechanical Engineering. Besides, Onyeji pointed out that construction work is ongoing on a 60-office block for staff; seminar/conference chamber and a 1,000-capacity lecture theatre. Some of the projects include Faculties of Education building; Natural Sciences and Environmental Sciences laboratories; department of Materials and Metallurgical Engineering; three Nos of 600-capacity lecture theatres; an ultra-modern ICT with Af-

rihub; Moot Court and library for Faculty of Law; Central Science Laboratory; Digital Communications Laboratory; the main library; student hostel A; faculty building A; School of Postgraduate Studies complex; Faculty of Environmental Sciences Annex; mini-sports complex and Faculty building B. Others are construction of Faculty of Natural Sciences Annex; Entrepreneurship Centre and the university Seminar Chamber. The projects, according to him, were either funded through interventions from the state government, TETFund, CBN, NDIC, NCC and funds from the NEEDS Assessment of Nigerian universities, as well as the institution’s internally generated revenue (IGR). When the various projects under construction are completed, Onyeji expressed strong belief that the challenge of infrastructural deficiency would have become a thing of the past, even as he added that as part of strategies to relocate every segment of the university to the permanent site. To facilitate the relocation, he hinted that a modern ESUT primary and secondary school complex is being developed through the private sector partnership initiative. “Since the university is a place for learning, our modest achievement has been the reinvigoration of the culture of academia, and completion of all ongoing physical projects,” he stressed.

Ex-VC lauds development of varsity

ormer Vice-Chancellor of the Adekunle Ajasin University, Akungba Akoko (AAUA), Prof. Funso Akere, recently returned to the university after nine years he bowed out of office, expressing satisfaction over the level of infrastructural development and academic ethics in the institution. Akere, a Professor of English, who was received by the principal officers of the institution, lauded the immediate past Vice-Chancellor, Prof. Femi Mimiko for the rapid infrastructural growth and academic transformation of the university. Speaking after inspection of the newly inaugurated Senate Building and the 30-Classroom Quadrangle, the former ViceChancellor noted: “I am awed by the huge infrastructural development and academic ethic entrenched by my predecessor, Prof. Mimiko.” Akere, who expressed happiness that Mimiko laid endurable bricks on the foundation of the new AAUA, charged members of the university community to focus more on skill-based researches that will further complement the ongoing wave of academic excellence in the institution. He said: “There is a current research trend which is designed to make universities design skilled-based programmes such that students, upon graduation, can be relevant and

employable in the developing industries. It is designed to make such graduates set up vocations based on the entrepreneurial skills acquired. AAUA must strive to key into this in order to remain relevant in the society.” Therefore, Akere challenged members of staff on the need to join hands with the management to move the institution forward, saying the workers to drop their old way of thinking and philosophy that the workforce is not doing enough if they do not oppose the ViceChancellor and protest against the management. Strike as a weapon of protest, he stressed, was no longer tenable, even as the former ViceChancellor counseled that the workers should form partnership with the management with a view to run a progressive system, while they too could be seen as partners of development.” Akere, however, admonished the students to eschew all forms of vices and activities capable of disrupting the peace on campus, saying the era of Aluta is gone. “Protests here and there will not help the university in its unrelenting quest for development,” he added, urging the students to focus more on their academic programmes, as well as come up with ideas and innovation that would foster the university’s growth.

Education 29

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

‘Our focus is to alleviate poverty in society’ Oluwaseun Olarewaju is the Coordinator of Academics Stand Against Poverty (ASAP) in West Africa. He speaks with OLUSHOLA RICKETTS in this interview on what the organisation represents, and other issues. Could you tell us what Academics Stand Against Poverty (ASAP) is all about and its functions? Academics Stand Against Poverty is an international non-profit organisation which was established in 2011 by Prof. Thomas Pogge from the Yale University, United States of America. At the moment, we have 15 chapters across the world, including the West African chapter that was established in January last year. ASAP is an international network of scholars, teachers, and students who are working to mobilize the resources of members of the academia to help alleviate poverty. We work to enhance the impact of academics as well as focusing on how to end poverty by promoting collaboration and carrying out public campaigns. Academics Stand Against Poverty also supports public outreach that brings or generates ideas from academia to policy makers and civil society; as well as collaboration to deliver new interdisciplinary research; and on-the-ground poverty interventions. What roles do you play as the Coordinator? Well, my functions or roles are numerous. First and foremost I relate with academics and other stakeholders who are interested in poverty alleviation programmes. Our model is research oriented and I handle specific intervention projects and campaigns against poverty related issues. We have plans to look at the standard of education in the country, which we feel is germane to issue of poverty and our course as an organisation. We focus on three project areas: children rights to education, promoting infrastructures and development, and youth empowerment. On January 27, we organised a symposium at the University of Lagos (UNILAG) in which Professor Akin Oyebode, Professor of International Law at the Faculty of Law was the keynote speaker. We also had guest speakers from international organisations including Innocent Chukuma and a host of others. It was a huge success, as it attracted many students who acquired a lot from the symposium. The theme was “Political Campaign Funding and the Looming Tsunami of

Poverty in Nigeria.” How credible is the organisation? The president is a respected scholar in America and the NGO was not set up by people who are jobless or unemployed. I am a lawyer and I have my Masters Degree in politics.

While I was in the United Kingdom, I carried out several researches for the International Centre for Development Initiative. We are not just bringing academics together, but other stakeholders too who are interested in tackling poverty issues in the society. So, the people involved are professionals and people of credible credentials, comprising academics, lawyers, professors, doctors. We are not doing this to put money in our pocket; we are fighting a genuine course, which we feel has become necessary in

the world today. We intend to relate with other NGOs with similar objectives in order to move our ideas forward. We know we cannot totally eradicate poverty, but it can be reduced. In your assessment of the nation’s education system, what would you say are the challenges in the sector? We have numerous problems and challenges in the country. It starts with technological deficiency. If you study abroad you will find out that everything is Information Technology based. There

is e-learning and you can access books and materials on the Internet. But here, I don’t think we have that and everything is done manually. Also, over there, you must have studied before a particular class because the lecturer expects the students to exchange ideas with him during lectures. Here, it is just a one side affair, from the lecturer to the student. Let’s look at the percentage of students and teachers too. In Nigeria, you could have over 200 students with just a teacher for that class, but that can-

Olanrewaju

not happen in developed countries. Over there, they normally have a maximum of 50 students to a teacher in a class. Also, in Nigeria, the people do not really engage in research. Unlike here, in developed countries there is what we call “turn it in.”

30 Education

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

Provost counsels students to be law abiding Oladele Oge UNN

he Provost, Federal College of Education, Eha-Amufu in Enugu State, Prof. Ben Mbah has spoken of the need for new students admitted to the college to be disciplined and law-abiding throughout their stay in the institution. Mbah gave the advice during the 21st matriculation ceremony of the college, where no fewer than 2,200 students took the matriculation oath. The Provost, who said the college’s expectation of the fresh students is that they will be responsive and obey constituted authorities, added that they should not in any way allow their freedom to infringe on the right of other students or members of staff of the college. He said: “Your freedom must not infringe on the right of other members of the college community, and if that should be allowed to happen you will pay dearly for it. You should pay adequate attention to your studies in order to enable you to make good grade on graduation. “In case of any problem, you are expected to inform your lecturers or Heads of Departments in order to provide solutions to them immediately.” Mbah, however, warned the matriculating students to beware of some group of students, who though parading themselves as students, but who have sacrificed their studies on the altar of fashion, indecent dressing and other frivolous activities. “If you want to graduate in flying

colours, and to justify your parents’ investment on you, there is conscious need for you to beware of such unserious students,” the Provost said, explaining that as co-educational institution, they are expected to visit the opposite sex hostels only at the approved hours by the management, even as he cautioned them not to harbour visitors in their hostels at night against the rules and regulations of the college. The Provost, who said the college places high premium on quality of tuition, reminded the students that they were expected to pass all their prescribed courses at the end of three years, for them to qualify for the award of the Nigerian Certificate in Education (NCE). Saying the college has zero tolerance for examination malpractice, Mbah, however, pointed out that the college had invested substantially in Information and Communication Technology (ICT) in order to enhance quality teaching and learning. The Provost, who urged the students to key into the ICT programme of the college as the world has become a global village, noted: “It is expected that every student should be computer literate, as well as own a laptop provided they could afford one in order to have an unfettered access to the Internet. To this end, he said the college has integrated entrepreneurship education and training as part of students’ education so that on graduation they would have been job creators rather than job seekers, relying on non-existent government jobs.

Director/Chief Executive Officer, Nigerian French Language, Badagry, Prof. Raufu Adebisi (2nd left) receiving blessing from the Akran of Badagry, Aholu Menu-Toyi (1st right) during Adebisi’s visit to the monarch.

EDUPEACE

with Mahfouz A. Adedimeji (08066372516, sms only)  Dr Adedimeji is a Senior Lecturer and Director, Centre for Peace and Strategic Studies, Unilorin

To lead, be disciplined

iscipline is basically the assertion of willpower over base desires. This is what the fourth letter of the word leaDership connotes. The truth of this life is that if you are not disciplined, you cannot go far, either as a leader even as a follower. But discipline is more important for leaders since they are the ones to be emulated. When you look at the life of the man called General Muhammadu Buhari (GMB), the man of the moment, you see a life of discipline. This is not because his military regime introduced War Against Indiscipline (WAI) but because of the way he has lived his life without excess baggage. He has no house in Abuja, no billions in foreign accounts, yet he commands a huge following. What is the force behind Buhari’s personality? It is his character which is shaped by self discipline. Few people can match his reputation. Millions of people still wonder in open-mouthed amazement how a former Head of State does not have the means he lacks. He disciplined himself to be different and the reward is glaring. If you are disciplined, the sun of your success cannot be stuck by the mud of detractors. As leaders of today and tomorrow, discipline is central in order to be successful. There are five D’s that Barbara T. Bradford said would guarantee success to anyone. The first ‘D’ stands for desire. You must set a goal for yourself and have an ambition: this is what I want to be in life. The second ‘D’ is drive. There must be something which drives or propels you, perhaps religion, a role model, a philosophy, a book or set of books, an idea or anything of such. There must be a driver. Then, the third “D” is determination, which concerns the courage to confront and overcome the hurdles on the way to success. The fourth ‘D’ is discipline, which is the crux of what is being discussed here. The fifth ‘D’ is dedication, the persistence on what is being done till success materialises. Without being dedi-

UNIBEN don seeks more advocacy on child blindness Eddy Uwoghiren UNIBEN

he Federal Government and Non-Governmental Organisation (NGO) have been urged to increase advocacy and public enlightenment on child blindness with a view to reducing the scourge in the society. This was the main thrust of the152nd inaugural lecture of the University of Benin (UNIBEN), Benin-City, deliv-

ered by Prof. Oseluese Anastasia Dawodu, a Consultant Paediatric Opthalmologist at the UNIBEN Teaching Hospital (UBTH), which took place at the Akin Deko Auditorium of the institution. In her lecture entitled: “Childhood Blindness: A Changing Picture with Changing Challenges,” Dawodu lamented that the rising number of blind children in our society today, could be attributed to poverty and superstitious beliefs of the people

that a child with eye problem would overcome it in future. She noted that many patients with eye problem come to the hospital very late, thus making it difficult to offer them optimal care, even as the lecturer bemoaned what she described as the growing rate of the eye disease and stigmatization of blind children in the society. Dawodu, therefore, challenged the contributions of the traditional institutions and miracle churches, saying

they have done more harm than good to blind children.

Prof. Dawodu

Self discipline has to do with your ability to restrain yourself from anything that will stain your honour and self esteem

cated, a person is liable to give up. Bradford adds that there is another ‘D’, to avoid – and that is distraction. In his matriculation address delivered on January 10, 2014 to the fresh students of the year 2013/2014, the Vice-Chancellor of the University of Ilorin, Prof. Abdul Ganiyu Ambali, OON, actually deconstructed discipline which he said “is essentially training to act in accordance with rules and regulations.” He identified four types of discipline – academic, moral, self and financial discipline. According to the Vice-Chancellor, an accomplished leader, “academic discipline entails that you manage your time well by ensuring that you attend your lectures punctually, read your books properly and do your assignments diligently. “Moral discipline involves exhibiting values of good character, honesty, sincerity, uprightness and healthy relationship with others. “Self discipline has to do with your ability to restrain yourself from anything that will stain your honour and self esteem. “Financial discipline involves managing your scarce resources well so that you won’t be under any pressure. Please, be disciplined.” It requires a lot of discipline to be above board and avoid the banana peels of corruption and indulgence in frivolities that go with public service in Nigeria. Our leaders steal as if there is no tomorrow and the nation bleeds to the marrow. They are materially successful but they are ultimately men and women of no value. “Try not to become a man of success, but rather try to become a man of value”, Albert Einstein once counseled. To be a leader, restrain yourself and do not be a slave to your emotions. When your head and your heart are in conflict on an issue, let your head take charge. Every fool feels, but thinking is one of the hardest jobs. Feel, it is human, but think more, so that your emotions do not lead you to the abyss. Many people are mentally intelligent. Few people are emotionally intelligent. But emotional intelligence is “25 times more powerful than mental intelligence”.

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

Property

Aviation

S’Africa’s land bill: Experts weigh implications

Barriers to Nigeria’s aviation

Business What's news

Nigeria, others to experience $45.3trn rise in investible real estate Nigeria and other emerging economies are expected to experience expansion in their investible real estate to the tune of $45.3 trillion in 2020.

Subsidy: FG may borrow N164bn to pay marketers as fuel crisis rages ULTIMATUM

Marketers seek complete deregulation of downstream sector Adeola Yusuf

p.32

Naira rout: Experts fret over rising cost of houses Experts in Nigeria’s housing industry have expressed worry over the rising cost of low and medium income houses in the country triggered by the prevailing economic downturn coupled with the devaluation of the naira.

p.32

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

he N100 billion slash in appropriation for subsidy in the 2015 budget has further boxed government into a tight corner over payments to marketers. Findings by New Telegraph revealed that except government scrounges for funds, the March deadline for payment of N264 billion claims would be unviable. Minister of Finance and coCoordinating Minister for Economy, Dr. Ngozi Okonjo-Iweala, had, at a meeting last Monday, promised to pay the N264 billion backlog, comprising fuel subsidy claims, foreign exchange differentials and taxes to marketers before end of March. Two days after this promise, the Senate slashed the allocation for petrol subsidy from N200 billion to N100 billion. The cut also affected the kerosene subsidy presented by the Ministry of Finance in the Medium Term Expenditure Framework for 2015 – 2017. A marketer, who craved anonymity, told this newspaper that government will need to source for N164 billion with the N100 billion appropriated to it by the Senate if it would meet up with the N264 billion payment by March. “This is no rocket science, it is a simple arithmetic. Government will need to source for funds to meet up with this obligation by March,” he said. “You know that the Excess Crude Account is a no-go area for the Federal Government

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

now and as it stands, government and marketers may be spoiling for a showdown if nothing is done. In all, I think government missed the opportunity to remove the subsidy in January when the crude price fell to around $45 per barrel,” he added. Total, Mobil, Oando, Conoil,

Forte Oil and MRS said that they have no cause to doubt government’s promise to pay them. Speaking through the Major Oil Marketers Association of Nigeria (MOMAN), the fuel marketing companies maintained that the banks, which are the real owners of the debts, are opening up to them to access

facilities based on the March schedule of payment issued by government. Executive Secretary of MOMAN, Mr. Thomas Olawore, who declined to comment on the slash in subsidy by the Senate, reiterated his association’s call for complete deregulation of the CONTINUED ON PAGE 32

L – R: Executive Director, South, First Bank of Nigeria Limited, Mr. UK, Eke; Cross River State Governor, Liyel Imoke; Group Chairman, FBN Holdings PLC, Dr. Oba Otudeko; First Lady of Cross Rivers State, Mrs. Obioma Liyel-Imoke and Group Managing Director/Chief Executive Officer, First Bank of Nigeria Limited, Mr. Bisi Onasanya, at the Women Development and Child Protection Centre (WODAC) fund raising dinner held in Lagos.

How to rescue Nigeria’s aviation, by ex-NAMA MD Wole Shadare

Says N200bn intervention fund wasted

ormer Managing Director of the Nigeria Airspace Management Agency (NAMA), Roland Iyayi, at the weekend, took

a holistic view of the country’s aviation industry and likened the operations of airlines to a bubble waiting to burst. Iyayi, who is the Chief Exec-

utive Officer of Top Brass Aviation, insisted that there is the need to take “an urgent step to CONTINUED ON PAGE 32

Rates Dashboard INFLATION RATE January 2015...........................8.2% December 2014.........................8% November 2014........................7.9%

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

EXCHANGE RATE (Parallel as at Feb. 27)

USD . . . . . . . . . . . . . . . . . . . . . . . N227 Pounds . . . . . . . . . . . . . . . . . . . N353 Euro . . . . . . . . . . . . . . . . . . . . . . N253

l Foreign Reserves – $31.46bn as at 26/02/2015

Source: CBN

EXCHANGE RATE (Interbank as at Feb. 27)

USD . . . . . . . . . . . . . . . . . . . . . . N198 Pounds . . . . . . . . . . . . . . . . . . N300 Euro . . . . . . . . . . . . . . . . . . . . . N230

Business | News

CONTEST

Intense competition for prime real estate would cause managers and investors to seek new opportunities

Dayo Ayeyemi

igeria and other emerging economies are expected to experience expansion in their investible real estate to the tune of $45.3 trillion in 2020. According to new forecast by PricewaterhouseCoppers (PWC), global stock of investable real estate would rise by over 55 per cent to around $45.3 trillion by 2020, from a 2012 total of $29.0 trillion. This was hinged on rapid urbanisation and demographic changes, especially within emerging markets such as Nigeria, which report said would lead to substantial growth in her real estate investment industry. In its analysis of the trend that will shape real estate investment by 2020, PWC noted that investible real estate would expand again by a similar proportion by 2030, pointing out that the growth would be greatest in emerg-

Nigeria, others to experience $45.3trn rise in investible real estate ing economies, where economic development should lead to better tenant quality and, in some countries, clearer property rights. It said that the movement would play out across housing, commercial real estate and infrastructure. “Private capital is expected to play a critical role in funding the growing and changing need for real estate and its supporting infrastructure,” PWC said. The report posited that intense competition for prime real estate would cause real estate managers and investors to seek new opportunities for yield. “As they venture into new territories, the growing and changing real estate world will present them with a far wider range of risks, which they should be equipped to manage,” it said. The International Monetary Fund (IMF) had also forecast that over the next few years, around 70 percent of world’s growth would come from developing countries. Emerging economies such as Nigeria, Indonesia, the Philippines, Saudi Arabia

How to rescue Nigeria’s aviation CONTINUED FROM PAGE 31

arrest the drift in the nation’s aviation industry.” The airline chief, told New Telegraph, that lack of good business model by operators has done incalculable damage to airline business that once thrived. He disclosed that Lagos, Abuja and Port Harcourt contribute 80.2 per cent of the total traffic of over eight million domestic traffic in what has come to be known as the triangular route. The expert lamented that it was a shame that the sector contributes paltry 0.4 per cent to Nigeria’s Gross Domestic Product (GDP). He said that given Nigeria’s natural and mineral resources, the country has the potentials for achievements like Dubai, Singapore and African countries such as Ethiopia, Kenya and South Africa in reaping benefits derivable from the sector. A report published two years ago by Oxford Economics had stated that the Nigerian Aviation sector contributed N119 billion, about 0.4 per cent, to the nation’s GDP. Speaking on the unviability of virtually all Nigerian airports, he said

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

only about four airports in Nigeria are viable, namely Lagos, Abuja, Port-Harcourt and Kano, barely generating money for the sustenance of the aerodromes. Iyayi lamented: “Between Lagos, Abuja and Port-Harcourt, we have 80.2 per cent travellers. Those three airports account for 80.2 per cent of travelling public in Nigeria. In my research, I refer to those three airports as business triangle of Nigeria. “Everybody is gravitating between these three airports. People who are into oil and gas to PortHarcourt; those going to Lagos go there because of the sea ports and commercial nature of the city, while Abuja is the political capital of Nigeria. Those three cities remain key to the economic development of this nation”. He stated that a situation where all the carriers operate to these three points make it economically unrewarding because of over capacity on those routes. His words: “The airlines throw enough schedules into Abuja, Lagos and Port-Harcourt in view of holding market share; it is still not workable.

and Mexico are expected to see significant growth over the coming decade. According to IMF, economic advances in

these countries have supported the world economy through tough financial periods in recent years, with particularly strong

development in the construction, real estate and technology sectors. Looking forward to 2015, the economies of

emerging markets in Southeast Asia, Latin America, the Middle East and Africa are projected to further strengthen.

L-R: Chief of Defence Staff, Air Chief Marshal Alex Badeh; President, Institute of Chartered Accountants in Nigeria (ICAN), Mr. Chidi Ajaegbu and Council Member, Mr. Sylvester Nwanna, during a meeting with Badeh in Abuja.

WEAK CURRENCY

Builders have to pay more naira for imported building materials

Dayo Ayeyemi

xperts in Nigeria’s housing industry have expressed worry over the rising cost of low and medium income houses in the country triggered by the prevailing economic downturn coupled with the devaluation of the naira. The naira, which has been devalued by N29 or 17.2 per cent by the CBN with the closure two weeks ago of both the Wholesale and Retail Dutch Auction Systems, has weakened by 26 per cent in the last two months. It closed at N198 to a dollar last Friday and traded at N227 per dollar at the parallel market, up from N224 per dollar the previous day (Thursday). This has compelled the Central Bank of Nigeria (CBN) to burn its

Naira rout: Experts fret over rising cost of houses reserves, which dropped last Thursday to $31.46 billion, to defend the naira. The professionals in the built environment’s disquiet is hinged on the rate at which the value of naira is falling against the dollar, making building materials’ importation more expensive. Most materials for house construction in Nigeria, except granites and sand, are virtually being imported from United States of America, China, Spain and Italy, among others. These materials include paints, floor tiles, roofing sheets, ceiling board, iron and other components of buildings. Speaking with New Telegraph, Chairman of Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Mr. Williams Odudu, said that the implication of naira devaluation has weighed down on developers of estates as they have to pay

more naira in exchange of a few dollars for building materials’ importation. To stay afloat, he said developers in turn have been passing the extra cost they incurred to home seekers, who are the low and medium income Nigerians. Odudu lamented that homelessness would increase among Nigerians as prices of housing units have risen beyond the reach of the people, urging government to urgently do something to defend the value of the naira. Besides, he expressed the fear that the rising accommodation cost might be an obstacle to effective operations of the newly established Nigerian Mortgage Refinance Company (NMRC). Odudu explained that the current exchange rate of N220 for $1 would definitely affect the cost of delivering affordable houses in the country.

FG may borrow N164bn to pay marketers CONTINUED FROM PAGE 31

downstream sector. “I have been at a meeting since, I will need to study the purported slash and get back to you,” he told New Telegraph by phone. “We have outstanding recovery and outstanding on foreign exchange differentials.

We were paid N345 billion last year for 2013 and part of 2014. “However, we have some outstanding of 2014 and part of this year, totalling N164 billion on subsidy. On foreign exchange and interest, the outstanding, which government owes us, is around N100 billion now. Therefore, the total outstanding, which

the government owes us on subsidy, foreign exchange and interest, is N264 billion.” He insisted: “The banks, not marketers, have the money; they borrowed us the money; they will collect the principal, they will collect the interest anytime the money (subsidy) is paid.

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

2015 budget, oil and OPEC’s emergency meeting p.34

Energy

Blackout, crazy billing heighten consumers’ apathy p.35

Erratic power supply jeopardises N100bn debt collection DISMAL PERFORMANCE

Power generation has dipped below 3,000 MW

 Budget office decries crazy billing

Adeola Yusuf

he erratic power supply rocking the country has continued to jeopardise plans by the power distribution firms in Nigeria to recoup the over N100 billion debts inherited from the defunct Power Holding Company of Nigeria (PHCN). Federal Government’s ministry, department and agencies (MDAs), as well as military and police formations across the country are the larger debtors with over N80 billion of the debts while commercial and customers account for the remaining 20 per cent. In the last two weeks, supply of electricity to consumers across the country has fallen by 360.88 megawatts and this shortfall, which the Federal Government has again attributed to the vandalism of pipelines that transport gas to power plants, backpedalled efforts to recoup the debt Specifically, the energy sent out to electricity consumers plunged from 3,424.11MW on February 17 to 3,063.23MW last Wednesday, while the average national demand stood at 12,800MW. Within the same period, peak electricity generation fell from 3,768.2MW to 3,224.8MW, while energy generation also dropped from 3,494.96MW to 3,131.8MW. Given this development, the Director General of the Budget Office of the Federation, Bright Okogu, lamented the sudden increase in electricity bills, saying that the office since 2013, had N700,000 to less than N1 million bills monthly, only for the bill of September 2014 to increase to N3.3 million. Okogu said at a forum organised by Nigerian Electricity Regulatory Commission (NERC) that the bill had risen to N7.6 million by January 2015, adding: “This was attributed to increase in electricity tariff from N22 to N35. This explanation is not tenable as the increase is 59 per cent, which should not result in 100 per cent increase as indicated in the bill.” Although some of the new owners have publicly threatened to disconnect the debtors as a new strategy to recoup the

Power installation

debts, it was gathered that this strategy failed because most of the staff declined instructions to go and disconnect military and police formations for fear of harassment and arrest. “At the management level, we have organised courtesy visits to the top hierarchy of these formations and they promised to start paying the debt on monthly basis, but as I am talking to

you now, this promise has not been fulfilled,” the managing director of one of the distribution companies had told New Telegraph. However, several appeals by the Ministry of Power and the defunct PHCN to the debtors to pay had been unsuccessful. “Initially, we worked with deduction at source in collaboration with the Ministry of

THEFT

Suspects were arrested with 17, 000 liters of stolen fuel Adeola Yusuf

he Economic and Financial Crimes Commission (EFCC) and the Nigerian Security and Civil Defence Corps (NSCDC) have taken custody of five citizens of Benin Republic and four others arrested last week by Nigerian Navy, Western Naval Command (WNC). The suspects were arrested for maritime illegalities, crude oil theft and

Finance, but the result is still not impressive, especially with about N100 billion still outstanding. “Another alternative was to ensure that all Federal Government agencies operate on the prepaid meters, which would compel them to always be in credit, or stay without power supply,” a source at the Ministry of Power said while disclosing govern-

ment’s efforts to collect the debts. “When this did not also work,” he said, “government tried to employ a debt-collector to help recoup the debts.” Meanwhile, the electricity load schedule seen by our correspondent showed that in the last two weeks, peak electricity generation fell from 3,768.2MW to 3,224.8MW, while energy generation also dropped from 3,494.96MW to 3,131.8MW. The country was losing over 1,500MW of power despite claims by President Goodluck Jonathan that he had delivered on his promise to supply electricity to Nigerians. Minister of Power, Professor Chinedu Nebo, however, blamed the fall in power supply to continued puncturing of gas pipelines. With the incessant drop in supply, the Registrar, Institute of Credit Administration, Nigeria, Dr. Chris Onalo, foresees difficulty in the collection bid for the N100 billion debts. He said that it would be difficult for any debt collection firm to work on debt owed PHCN because of its erratic service provision and disputable billing system. Onalo, who doubles as a director of CBS Credit (UK) Limited, a debt collection handler, said that rather than consider outsourcing debt collection, power firms should do a thorough overhaul of their system and make it one that supply services with a credible billing system. Outsourcing in a debt collection firm involves a third party entity, different from the original creditor, who collects unpaid debt on behalf of the creditor. The firms are, according to the agency, paid on a percentage and they keep a portion of any money collected, while others purchase blocks of bad debt from creditors.

Oil theft: Navy handovers four foreigners, five others to NSCDS pipeline vandalisation. Commanding Officer (CO), Nigerian Navy Ship (NNS) Beecroft, Commodore Tekumo Ikoli, who said this, maintained that the Navy could not go further after arresting the culprits because the NSCDC and the EFCC are the ones empowered by the constitution to prosecute of the accused. Giving graphical details of the arrest, Ikoli said: “Three of the suspects were arrested outside the Lagos waters, the others,

including the five Beninoise, were arrested when they were intercepted by naval personnel. “The Nigerian Navy Ship (NNS), Ikot-Abasi, intercepted a Cotonou wooden boat carrying a large number of drums with six men. Preliminary investigations revealed that the six men were allegedly involved in illegal activities, including one Mr. Francis Olusegun, who claimed to be the owner of the suspected stolen products. “The other five persons

claimed to be from Benin Republic. Further investigations revealed that there were a total of 78 drums of 250 litres capacity each in the boat of which 68 of such drums were laden with petroleum products suspected to be Automated Gasoline Oil (AGO), while the other 10 drums were empty. “The six suspects together with their boat and other exhibits are being handed over to the Nigerian Security and Civil Defence Corps (NSCDC).”

Business | Energy

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

2015 budget, oil and OPEC’s emergency meeting Nigeria’s economy is facing quandary buoyed by oil price rout and naira devaluation. ENERGY EDITOR, Adeola Yusuf, who examines measures to put the country back on track reports that many lessons are to be leant.

he Senate, on Wednesday February 25, announced another cut in the oil benchmark in the 2015 budget. This time around the benchmark was placed at $52 per barrel and it was the fourth time that the appropriation has been placed under the knives of the National Assembly. The price of oil at the international market has dropped by 50 per cent since June last year, reducing Nigeria’s revenue, which has 80 per cent of revenue derived from oil and, by extension, the nation’s currency that had been devalued twice in the last three months. Chairman of the Joint Committee on Finance and National Planning, Economic Affairs and Poverty Alleviation, Ahmed Makarfi, said that the reduction in benchmark was due to the fall in oil prices at the international market. Hours before the Senate made public the slash in oil benchmark, Minister of Petroleum Resources, Mrs. Diezani AlisonMadueke, who doubles as the President of OPEC, defied the Saudi Arabia-led power block in OPEC to announce plans to call OPEC’s meeting over the oil price rout. As Nigeria continues to rue the falling oil prices, the devaluation of the country’s currency, the naira, has further complicated the low times for the country’s economy. Alison-Madueke, however, expressed readiness of OPEC to redress the oversupply of crude in the international market, which, she said, was partly responsible for oil price rout. She told the Financial Times of London: “Almost all OPEC countries, except perhaps the Arab bloc, are very uncomfortable.” This discomfort comes just three months after OPEC’s last meeting in November, in which, under Saudi pressure, the group decided to ignore the drop in oil prices, as well as the pleas of lesswealthy members and maintain a production ceiling of 30 million barrels per day that has been in place for three years. It eventually emerged that the strategy, evidently conceived by Saudi Oil Minister, Ali al-Naimi, was to abandon OPEC’s traditional approach of lowering production to keep prices high. Instead, the strategy is to defend market share against oil producers such as America using newer, if more expensive, means of extraction

such as hydraulic fracturing, or fracking. Playing to gallery “Given that the presidential elections in Nigeria have been pushed from February 14 by six weeks, it is difficult not to discount the statement of OPEC’s emergency meeting by minister of petroleum resources as playing to the domestic audience,” said Olivier Jakob, oil analyst at Petromatrix. “There are no concrete actions going on to organise any emergency meeting of OPEC countries,” he added. Nigeria’s electoral commission postponed the February 14 presidential election until March 28 due to security concerns. Oil prices collapsed in 2014 in a decline that continued after OPEC refused to cut production in a bid to defend market share at its last meeting in November, despite misgivings from nonGulf countries such as Iran and Venezuela. Since then, lobbying by Iran for an OPEC cut and a diplomatic tour by Venezuela’s president has failed to soften the stance of Saudi Arabia and the other Gulf members, who can live with relatively low oil prices. Oily path for naira In a similar vein, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said that Nigeria was ready to absorb the shock from continued fall of crude oil prices. She stated this at the 4th Capital Market Committee (CMC) retreat, organised by the Securities and Exchange Commission (SEC) in Abuja, recently. The CME affirmed that it would not be wise for the country to panic, adding that “panic is not a strategy. We are managing the situation to keep the economy on a stable, sustainable course and we will not listen to those who want us to throw up our hands in despair and give up. “Our scenario-based approach to managing the impact of the oil price drop is proactive and comprehensive. Even if the price drops to 60 dollars, we are ready. “The common man is a priority in our strategy for the fall in oil price. His interests are a priority. That’s why even in implementing cuts in capital budget for 2015, the areas that are of most benefit to the common man, critical infrastructural projects like the LagosIbadan expressway, the second Niger Bridge, rail and power projects, among others, which will create jobs and enhance the comfort of our people, will go on. “This pro-common man focus can also be seen in the safety nets, which is a major priority for the President. The projection is for two to three million families across Nigeria to benefit from a conditional cash transfer scheme to encourage school attendance, improve health and nutrition, reduce infant and maternal mortality, among others,” she said. Managing Director of Afrinvest, Ike Chioke, a reknowned

Alison-Madueke

Government, which could have naturally fallen back to the excess crude earnings, is at a receiving end, based on its inability to save for the rainy days

economist, speaking on the sidelines of the devaluation of the naira vis-a-vis the implication of this on the Nigerian economy as well as the common man, said: “I think first of all, it’s a very bold move by the CBN. It is a definitely appropriate thing to do in the light of all the challenges the country is facing. You have seen the oil price decline about 30 per cent from $140 per barrel in June to presently at a little below $80 per barrel. For Nigeria, 95 per cent of our foreign currency comes from oil, so, clearly, once you see such depletion, a reduction in price of course, you will expect to see a gradual decline in our external reserves. And also, the oil price given our mono-product economy, our investors tend to look at what oil is doing as a barometer of the gauge of the economy of Nigeria will do. So, once they see oil price going down, they will start taking their money out. “So, the CBN was then faced with two forces; one is declining oil prices, which is reducing result. The other one is international investors who have money in our equity market, that is our capital market system overall, who are pulling out their cash in order to preserve their investment. So, that is the challenge facing the CBN. I think the action they took by adjusting the exchange rate to accommodate this unusual situation is the appropriate one. “At the same time, you saw that they raised the interest rate; they raised the MPR from 12 per cent to 13 per cent. That also obviously has consequences in terms of borrowing. Businesses will not need to borrow from the banks in order to fund their productive activities. It will mean more difficulty. Similarly, they went further and neutralised another half a trillion naira of deposits in the banking sector by increasing the cash reserve

ratio for private sector deposits from 15 per cent to 20 per cent. That also put more pressure on banks because money they have collected in their system, which they may have promised people or various money markets. Now they are no longer allowed to earn income on that money because it is appropriately quarantined.” He continued: “The combination is challenging both for the banks and their capacity to earn money has been reduced, whereas, the CBN is looking at it from the point of view of controlling the excess liquidity they see in the banking system. “For the average Nigerian, however, these are troubling times,” he added. “I think what is required is for government to back their monetary policy measures with fiscal policy measures. So, we have seen a very bold and appropriate move by the CBN, we have not seen a counter-balancing bold fiscal policy change from the central government itself such as, if you look at where we are today, part of the biggest drain on our foreign reserves is oil subsidy. Even where oil prices have come down, if you want to protect your reserves, what to do is to remove the subsidy.” Looking away from oil The government, which could have naturally fallen back to the excess crude earnings, is at a receiving end based on its inability to save for the rainy days. As the country faces tough task of safeguarding its economy, Senate President, David Mark, said there was need for a budget cut across the three arms of government in view of the current economic reality. Mark said the government must continue with it reform policy in order to promote the growth of the non-oil sector. He expressed delight on the expeditious passage of the MTEF, adding, “this is the kind of cooperation required to build our nation.” Also, the Deputy President of Senate, Ike Ekweremadu, said the country must learn from wasteful spending of the past, adding, “we must engage in prudent spending in order to build our foreign reserve.” He said that many countries had survived with fewer resources, adding, “Nigeria must look away from relying on oil and spending on oil wistfully.” This the first time the ministry captured allocation for kerosene subsidy in the budget. The provision may not be unconnected with ripples generated by the investigation into alleged non-remittances of some funds in the sector. Last line The good news is that the Platts, OPEC, Energy Information Administration (EIA) and other global oil and gas watchdogs have, in different forecast, predicted quick recovery for the low oil price. The federal government should therefore ensure that revenues kept for the rainy days are spent judiciously.

Business | Energy

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

PROTEST

Ogijo community protests neglect by IBEDC Adeola Yusuf

onsumers’ apathy was, at the weekend, heightened for the Ikeja Electricity Distribution Company (IKEDC) and Eko Electricity Distribution Company (EKEDC) over crazy billing amidst eratic power supply. Investigation by New Telegraph revealed that the two distribution firms are witnessing a sharp decline in Mega Watt (MW) of power allocation from the National grid with about 600 MW shortfalls. The companies were, however, accused of jacking up their billings to customers who have been subjected to load shedding by about 24 per cent while N750 fixed charges were still deducted from pre-paid metered customers who suffered more than 15 days outages. “The power supply to my area has gone down considerably in recent times, yet the bill that we are being given is a sharp increase from what obtains when there was light,” Adebayo Akomolafe, a customer of IKEDC said while showing the bill given to him by Akowonjo business unit to New Telegraph. Another customer, Adedayo Salami, said that officials of IKEDC that disconnected customers in Egbeda/Akowonjo area were assaulted by customers who felt cheated by the high billing amidst epileptic power supply. Spokesperson for the Eko distribution firm, Godwin Idemudia, in a statement, called for calm, reassuring customers that the company was working hard to support the insufficient supply it gets from the Transmission Company of Nigeria (TCN) with embedded power generation. His counterpart at the IKEDC, Pekun Adeyanju, could not be reached by phone for comments, but a source at the company said that the customer care unit had been inundated with series of complains, while protests are being held by customers who felt cheated by all these arraignments. Also, electricity consumers in Ogijo, Sagamu Local Government Area of Ogun State also protested what they called flagrantly abandonment of the area by Ibadan Electricity Distribution

Blackout, crazy billing heighten consumers’ apathy Ikeja, Eko power firms record over 600MW supply shortfall Company (IBEDC). “Throughout the year 2014, Ogijo was supplied electricity for fifty-eight (58) days out of three hundred and sixty-five days in the year! Yet they bring outrageous bills and demand payments,” the community said in a protest letter, a copy of which was given to New

Telegraph. “Also, out of the sixty-eight (68) transformers within the area, N E PA - P H C N - I B E D C has less than ten (10). The remaining fiftyeight (58) were provided by self-help or government in the ratio of 4:1, yet they collect money for installa-

tions and supply from the people they have refused to service! “This year again, the story is repeating itself; between the months of January and February, Ogijo have been supplied with electricity for less than three (3) days (less than 72 hours)! We have found out that

out of all the feeders supplying electricity to the area, the one for Ogijo is the biggest, yet we do not have supply. The entire town is constantly thrown into blackout, aiding the proliferation of crimes within the entire area. “We the people are tired of this are calling

for a total disconnection from the IBEDC if something is not done within the next three days after this press release. There will also be a total closure of the IBEDC office in the area forthwith while we source for other alternatives, afterall electricity has been privatised,” the letter stated

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TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

36 FG, firm seal deal on 15,000 housing units p.37 LAND REFORM Experts said that investors would have a rethink Dayo Ayeyemi

igerian investors and other foreign nationals in South Africa may begin to have a rethink over their investments as President Jacob Zuma has introduced a new land law barring foreigners from owning land in the country. In his State of the Nation Address (SONA) in Parliament, Zuma said that foreign nationals would be barred from owning land in the country, but they would be allowed to enter into long-term lease contracts as the ANC government goes ahead with its pilot land reform programme. Foreigners currently own an estimated seven per cent of land in South Africa. “In this regard, the Regulation of Land Holdings Bill will be submitted to Parliament this year,” Zuma said at the National Assembly. Since the announcement, Nigerian built environment experts have been expressing mixed reactions over the new land law. Experts’ perspective Some of the professionals, who spoke exclusively with New Telegraph at the weekend, bemoaned what they described as “a disincentive law to real estate investment,” saying that it would discourage discerning foreign investors. Others were of the opinion that such law was meant to protect the nationals, going by their experience about apartheid. But the professionals were quick to advise the Nigerian government. They said that the country must be opened to foreign investments in real estate to promote economic growth. President of the Nigerian Institute of Building (NIOB), Mr. Tunde Lasabi, said that the law would strongly discourage investment because many people travel to the country for greener pasture. According to him, with the new land law, people would have to think twice before they invest in South Africa. “The country will not have the opportunity of having the right investment and the local nationals will be worse off,” he said. He warned the Nigerian government not to adopt such a land law due to the nation’s weak currency. “We must not adopt that system because our currency is not strong. For us, it may not be easy because we need foreign investments to grow,” he advised. Chairman, Lagos State chapter of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Stephen Jagun, said that the new law would affect South Africa’s real estate negatively.

Property&Environment

Stakeholders to FG: Empower FHA p.37

S’Africa’s land bill: Experts weigh implications

A real estate property in South Africa.

Lasabi

Awobodu

He said: “This is a disincentive to real estate. They do not want foreigners to have a long stake in their country. People will be cautious to invest and the locals will be complacent. The law will make acquisition of land to be ambiguous.” Jagun warned the Nigerian government on the need to be proactive by putting in place policies to attract foreign investors to its real estate industry “We Nigerians must do our home work properly because the largest investment of any nation is real estate. We must open up for investment as much as possible and land transactions need to be transparent and friendly because the more you are opening up, the more you are growing the

It won’t have much effect on real estate value, but for highend market operators, it would reduce demand and ultimately reduce prices

Jagun

economy,” Jagun said. President of Building Collapse Prevention Guild (BCPG), Mr. Kunle Awobodu, notted that such land law would make investors to be skeptical, saying that it would serve as an obstacle to the scope of investment due to short lease. He said: “The level of commitment will be reduced and it will encourage capital flight. It has negative implication on the Gross Domestic Product (GDP) and foreign reserve. “For them to come out with the law, it is to protect their local content. I foresee limitation in the allocation of land. While the law will empower the indigenes, it will not give visitors the sense of belonging.” Former President of the Nige-

rian Institute of Town Planners (NITP), Mr. Bunmi Ajayi, argued that though the law would reduce foreign investments, lease hold was not a bad option. Ajayi explained that there is a difference between actually holding and transacting land, adding: “If that is what the new law stands for and people can transact it, there is no problem though it may reduce their interest. “If foreigners can take 20 to 30 years lease, there is no big issues about that,” he said, pointing out that government owns land in Nigeria going by the Land Use Act. “Leasehold is available for capital to circulate in the country. Nothing happens without land, so invariably every investment is on land and a form of terminable ownership is required before such investment. In some countries, foreigners cannot purchase more than 25 year lease at every instance,” the town planner said. He is of the opinion that the new land law in South Africa would help to check money laundering through real estate in the country. He said: “For the citizens, it will be a psychological perception of protection by the government. It won’t have much effect on real estate value, but for high-end market operators, it will reduce demand and ultimately bring down prices.” Lagos based estate surveyor and valuer, Mr. Akin Olawore, also justified reasons for the newly introduced land law in South Africa, saying “ It is a way of protecting their sovereignty.”

Business | Property & Environment

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

FSDH unveils investment opportunities in real estate Dayo Ayeyemi

ow to invest in real estate through the Real Estate Investment Trusts (REITs) came to the fore penultimate week as FSDH Asset Management Limited gathered stakeholders to take a look at opportunities therein. At a seminar organised to boost investments in real estate assets via REITs, property market players and investors were educated on “Unlocking investment opportunities in the real estate.” Participants at the event included managing directors and chief investment officers of pension fund administrators, insurance and asset management companies as well as representatives of regulatory authorities such as the Securities and Exchange Commission (SEC), Federal Inland Revenue Service (FIRS) and Chartered Institute of Taxation. The Founding Director and Corporate Finance Executive, Java Capital, South Africa, Mr. Andrew Brooking, in his paper on: “Nature

and impact of REITs - Lessons for Nigeria from other jurisdictions,” analysed the growth of the South African REITs and JSE-listed real estate sector. He noted that the sector had grown substantially over the years and delivered excellent total returns to investors. His presentation covered topics such as key principles of REITs, structural considerations, performance and asset correlation. He noted that REITs have come to be regarded as a key component of a balanced investment portfolio and are seen as an investment category separate from direct property ownership. Partner/Head of Tax and Corporate Advisory, PwC, Mr. Taiwo Oyedele, presented a paper on tax, which has always been a challenge to stakeholders in the Nigerian REIT industry. A panel session, which had professionals in the industry, provided insightful discussions and recommendations on ways of ensuring an effective and efficient Tax regime for REITs in Nigeria. Managing Director,

FG, firm seal deal on 15,000 housing units Yusuf Shuaib Abuja

he Federal Government has signed a Memorandum of Understanding (MoU) with BASAP Ventures International Limited/JS Neoplans and Artemis Angel Global Limited for the development of 15,000 affordable housing units. Speaking during the signing of the deal, the Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, described the MoU as another milestone aimed at providing affordable and sus-

tainable homes in a safe and secured environment to the masses in furtherance of the transformation agenda. According to the minister, the partnership was geared towards dealing decisively with the prevalence of inadequate housing for the majority and improving the welfare and well-beings of Nigerians through the development of new policy frameworks and long-term action plans. She said: “The MoU is between the ministry and BASAP group for the construction of the 15,000 low-income houses within a 12-month period across the country . It is aimed at deepening and ful-

filling Mr. President’s promise to positively impact and transform the country through mass production of affordable houses.” The minister, however, gave an assurance that the ministry would continue to collaborate with key actors and operators in the housing sector to reposition the sector for improved and efficient housing delivery to majority of Nigerians, especially the low-income earners. Managing Director of the company, Mr. Anthony Adepoju, noted that investment into housing sector would create job opportunities and homes affordable homes for Nigerians.

Built experts tasked on technology use

he Chief Executive of 3invest, Ms. Ruth Obih, has tasked all practitioners in the sector to embrace the use of technology. Obih, made this call during the 3rd edition of Property Buyers Forum held in association with Social Media in Lagos, last weekend. She explained that as Africa braces the ideal investment destination, the need for a market that is digitally connected to a hub has become imperative. 3invest is an emerging commercial real estate company serving investors, developers and occupiers with interest in technology driven spaces. Obih maintained that Nigeria, being one of the most attractive destinations for

Obih

property investment on the continent, should not be left on the back seat when it comes to modern technology. According to her, real estate investors could be fully prepared for the challenges and opportunities of 2020 and beyond if they have better understanding of the economic and demographic shifts that will change the investment landscape. Ruth said this year, property buyers forum was put together to help globalise the real estate digital space in Nigeria, adding that the event was to educate professionals and investors on how to utilise technology in today’s property market. She further stated that mobile technology; 3D printing and crowd funding have become digital tools needed to maximise real estate investment in cotemporary market. The 3invest boss also called on the public sector to study successful private capital models like investors programmes to liquidate the real estate investment space. Citing affordable housing as “the next big thing”, Obih called for the definition of affordable housing. Speakers at the event were Managing Director, Chapel Hill Denham, Mrs. Ononuju Irukwu, Chioma Ogbu of Gran Imperio and Femi Odunlami of Briscoe Properties Limited. They all made presentations showcasing their completed and ongoing real estate projects.

Graceland Estate, Lugbe, Abuja.

Stakeholders to FG: Empower FHA Yusuf Shuaib Abuja

articipants at a one day management retreat of the Federal Housing Authority (FHA) have called on the Federal Government to strengthen the authority for effective social housing delivery. They also urged government to transform FHA into a regulatory agency so that it would effectively control of the housing sector. In a communiqué issued at the end of the retreat held at NAF Conference Centre, Abuja, participants drawn from the FHA’s Technical

Board, Interim Management Team and other critical stakeholder groups, recommended that the reform document be realigned to meet with current realities in the country. The three-page communiqué enjoined governments to provide adequate financial empowerment for FHA to enable it deliver on its responsibilities as enunciated in the social housing components of the reform package. The communique, however, decried the 18-month tenure given to the Interim Management Team and advised that the current interim structure be upgraded to a full tenure of four years to

enable management pursue the reform process to its logical conclusion. While noting that government was not contemplating the privatisation of FHA, the participants said that the restructuring and commercialisation of the agency deserves the support of all stakeholders and commended President Goodluck Jonathan for approving such. The communique drew attention to the misalignment between population growth and the nation’s urban development, calling for the prioritisation of the provision of social/ affordable housing in the country.

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

38 World N Traveland crashes airfare to US p.39

Aviation

Nigerian airlines in boom and burst cycle p.39

Barriers to Nigeria’s aviation The Nigerian aviation is considered a big market. With over 160 million population, it is natural that the market will remain where the population is. Consequently, Nigeria has unfolded plans to champion the implementation of Africa’s ‘open skies’, otherwise known as Yamoussoukro Decision, to harness the gains of the sector, writes Aviation Editor, WOLE SHADARE Bold initiative Nigeria has indicated its willingness to champion the implementation of Yamoussoukro Decision to liberalise and democratise the country’s airspace. Aviation Minister, Osita Chidoka, disclosed recently while unfolding his plans to help move a policy that has at best been on the drawing board for the past 25 years. He said: “I want to say it here that Nigeria is ready to utilise its plan of being a regional African aviation. So, we are championing the implementation of the Yamoussoukro Decision”. Yamoussoukro Decision remains the single most important air transport reform policy initiative by African Governments to date. It was adopted out of the recognition that the restrictive and protectionist intra-African regulatory regime based primarily on Bilateral Air Services Agreements (BASAs) hampered the expansion and improvement of air transport on the continent. One of the vital parts of the Decision was liberalisation, which was viewed as a means to develop air services in Africa and stimulate the flow of private capital in the industry. The Yamoussoukro Decision, which became effective in year 2000 evolved from the Yamoussoukro Declaration of 1988. However, throughout the years, the full potential of the Decision has not been realised to unlock commercial opportunities for African airlines. Therefore, it remains imperative to explore the conditions and forces, which slowed the implementation of the Decision. Experts’ view Experts have said that the future of this Nigeria’s aviation industry is strongly dependent on the future of the continent’s

One of Aero Contractor’s plane

industry. It is a fact that Nigeria as a country provides 65 per cent of the aircraft movement in West African sub-region, which is a representative of the Banjul accord group (BAG) with its headquarters in Abuja, Nigeria. Africa’s revenue passenger kilometres (RPK) is set to more than double in the next 20 years; from 250 billion RPK to 720 billion RPK in 2030. Nigeria currently has the second highest RPK, coming just behind South Africa. President, Nigeria Aviation Safety Initiative (NASI), Capt Dung Pam told New Telegraph that on the continental level, Nigeria is gaining prominence so there is an urgent need for more co-operation and consensus building among African States and their carriers. Nigeria should seek strong commercial agreements and mergers with African carriers in order to strengthen the group against external competition. To him, the Yamoussoukro Decision (YD) must be fully implemented as soon as possible for greater consensus building and corporation on a continent-wide level. It will be a major boost to the continent if African carriers and states come together and use the instruments of the African development Bank (ADB) to set up an aircraft leasing company that will enable them take advantage of the Cape town convention of 2005 and modernise the fleet across the continent. It is a major drawback that some member nations are yet to sign the YD. However, all signatories of the Abuja treaty of May 12, 1994, are automatically bound to implement the YD. However, complacency has bred a lack-lustre culture to the implementing group objectives. The expeditious implementation of YD is hindered because certain articles in trade agreements

currently existing between some African nations and their OECD donors indirectly discourage regional integration. African leaders should realise by now that the only real chance Africa has at sustainable development is regional synergy.

Nigeria should seek strong commercial agreements and mergers with African carriers in order to strengthen the group against external competition

No clear policy, strategy Nigeria’s aviation industry challenges have to be approached from a top-down perspective beginning at the policy level. This naturally feeds into the strategy and implementation stages, since the policy defines how the industry will be administered and what the over-arching objectives are. The strategy outlines the actions and steps necessary to attain those goals. These will include time-lines with specific goals. The most important aspect here is that Nigeria’s aviation policy has to be in harmony with the policy thrust of African civil aviation commission (AFCAC) in order to achieve the objective of YD, which is regional integration and harnessing of synergies. Policy implementation is the phase where this country has witnessed its greatest failures. Aviation is an industry that relies heavily on technical and innovative skills, making basic education and the ability to adapt to technology indispensable attributes of its workforce. The importance of successful implementation cannot be overemphasised because this is the phase where hypothesis is translated into tangible products or services and ideas are turned into achievements. Dearth of skilled manpower For the past seven years, a major obstacle in Africa’s inability to meet its safety oversight functions is the lack of requisite competent manpower. It is obvious that for the past few years, many trainings had taken place within both the admin-

istration and professional cadre of aviation agencies. However, it is hoped that the NCAA will strive to retain these personnel by offering realistic prospects for secure and rewarding professional careers in Nigeria. According to the World Bank, tertiary enrolment for developing countries stands at 10 per cent of the population compared with 56 per cent for Organisation for Economic Co-operation and Development (OECD) countries. It is evident that Africa will find it challenging to produce the number of development professionals needed to sustain economic growth in the aviation sector without a serious change in educational and labour policies. This is because a conservative estimate from Boeing last year, indicates that Africa needs to provide an additional 715 pilots and 960 aircraft engineers every year for the next 20 years to be able to man it’s aviation sector capacity. Nigeria’s’ population is 18 per cent of Africa’s, hence; the country is expected to provide at least, the appropriate 18 per cent of the manpower. This comes to precisely 128 additional pilots and 172 new engineers every year. Failing to meet this target means that Africa will have to mitigate the shortfall by employing expatriates. These will eventually repatriate both the acquired skills and revenue back to their home countries to the detriment of this continent. The problem could have been eliminated if the promised academic upgrade and expansion of the Nigerian College of Aviation Technology (NCAT) had been carried out as planned. A recent census of ICAO-recognised aviation training institutions in Africa showed that the United Kingdom has more ICAO-recognised aviation institutions than the 54 African countries combined.

Business | Aviation

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

World N Traveland crashes airfare to US CHEERY NEWS The gesture is also aimed at further boosting and facilitating contacts between Nigerians and their American counterparts Wole Shadare

n its bid to ease travel between Nigeria and the United States of America (USA), the management of a Lagos-based premium tour packaging company, World N Traveland, has announced a crash in airfares to John F Kennedy airport in New York. The company said that tourists visiting the United

States of America would only have to part with the N164,143 to secure seats on this deal. A statement from the Managing Director/Chief Executive Officer of World N Traveland, Mrs. Olufunlayo Faloye, stated that though limited seats are on offer, the gesture was aimed in part to reward loyal customers who have over the years patronised the company. Besides, she said that the deal is also aimed at further boosting and facilitating contacts between Nigerians and their American counterparts by further expanding opportunities to savour various aspects of touristic offerings in the United States of America. She said: “Effective Saturday, February 28, 2015, visitors to the United States of America (USA) who purchase

this ticket with us at World N Traveland will pay as low as N164,143.00 for a seat.” The World N Traveland CEO, however, explained that the promo is exclusive to the company. Faloye called on old and existing clients to embrace the offer, saying that it forms one in a series of such opportunities the country would be giving out to existing and new clients in the New Year. On why the company undertook to wow its teeming customers with the promo, Faloye said: “We decided to do the promo to reward the loyalty of our existing customers who have been visiting the US for one reason or the other. We are also undertaking the promo to assist other new clients savour the rich touristic offerings in the US.”

Emirates begins double daily flights to Nairobi W

ith effect from May 1, 2015, Emirates will commence double flight services to Nairobi, Kenya. The carrier also plans to connect more people when it switches from the current Airbus A330-200 aircraft used on one of the two daily services to a larger Boeing 777-300 ER. The introduction of a Boeing 777-300ER will boost capacity on the route by 1638 seats a week, and make Nairobi an all-Boeing 777 operation for Emirates. Senior Vice President, Commercial Operations, Latin America, Southern and Central Africa, Orhan Abbas, said in a statement: “Our NairobiDubai service is one of our busiest routes in Africa, and

it has been steadily growing since we first launched services to Kenya in October 1995 with just two weekly flights. Nairobi is a very popular destination for both business and leisure travellers and is a gateway to many of the country’s major tourist attractions such as the Masai Mara and its east coast beaches. “We anticipate that our additional capacity will stimulate further growth in both tourism and business traffic on the route.” Abbas said “travellers will be able to enjoy Emirates’ Boeing 777 service on both daily flights between Nairobi and Dubai, connecting conveniently to, or from, our worldwide network of over 140 destinations

-in particular, Europe, US, Far East and West Asia.” This includes our A380 network of 34 destinations across the globe, such as Beijing, Bangkok, Hong Kong, Kuala Lumpur, Shanghai, Mumbai, London, Frankfurt, Paris, Amsterdam, Rome, Houston, Los Angeles, New York, San Francisco, and Toronto,” he added. The Boeing 777-300 ER is the backbone of the Emirates fleet, with 102 currently in service. The aircraft is very popular among customers and used on services to nearly 80 countries, with the aircraft’s longest flight being between Dubai and Houston – a distance of 13,120 kilometres.

AIR RAGE

WITH

A Boeing 787 (Dreamliner) aircraft

Wole Shadare

Nigerian airlines in boom and burst cycle

he problem of the aviation industry in Nigeria is multi-faceted. The airline industry is in shambles, the entire sector is sick and is yet to get the right diagnosis to overcome its problems. We have over the years, seen policy somersault and this has brought distortion to the market. We have also seen distortion in the market because of policy inconsistency. And when you have distortion in the market, to a large extent, you may not feel that the larger economy is suffering. People have been lamenting and wondering why aviation contributed only a paltry 0.4 per cent to Nigeria’s Gross Domestic Product (GPD). When you take out a reform agenda, no matter how laudable, if it is tied to a dis-connect in the overall economy, you create more harm to the economy. Nigeria had a partial deregulation of the aviation sector in 1985. Nigeria Airways then had a monopoly of the industry, to that extent; Nigeria Airways was well equipped to operate domestic market as 100 per cent market shareholder. How come 20 years down the line, those benefits have not manifested. Where is that disconnect? Deregulation led to the entrant of airlines such as Okada and others which brought in all these airplanes that were not necessarily good to sustain the longevity of the industry because they were affordable and, all of a sudden, we had a lot new airlines coming into the industry. These airlines resorted to acquiring airplanes that would not last two or three years before they are out of operations. If quality at that time had been well regulated, I am sure we would have still had Nigeria Airways. At the point Nigeria

Airways was liquidated, it had more assets than liabilities. Records show that the asset base of Nigeria Airways was over $500 million. After it was liquidated, other players came onboard. The other players do not have the solid foundation Nigeria Airways had. They did not have a good model to run profitable airline. A former Managing Director of Nigeria Airspace Management Agency (NAMA), Roland Iyayi, aptly described what is playing out as “boom and burst cycle”. He said that Nigeria has a situation where all the airlines in the country today are in a war of attrition, adding: “Between Lagos, Abuja and PortHarcourt, we have 80.2 per cent of Nigeria’s travelling public today go to these three states.” He lamented that no Nigerian carrier as at today is breaking even. “No matter what they do, they still cannot break even. If you look at the operating economics of each of these airlines, the type of aircraft they operate, their overheads; their exposure financially, they can’t practically be profitable,” he said. Besides, he noted that war of attrition is not helping the sustainability of the industry. “How have we implemented our policies? There has been policy somersault, policy inconsistency in terms of implementation. As far as this becomes a pattern, I can’t see it grow. “Some airlines in Nigeria have a lot of money to burn not because they have a good model, they are more than glad to come there to lower their fares to destroy the market. As soon as others leave the market, they jack up their fares. That is predatory.”

Photo | News

L-R: Osemawe of Ondo kingdom, Oba Victor Kiladejo; Chief Robert Fifo; Ondo State governor, Dr. Olusegun Mimiko; Secretary to the State Government, Dr. Rotimi Adelola and Chief of Staff to the governor, Dr. Kola Ademujimi, at the thanksgiving service to commemorate the 6th anniversary of Mimiko in office, in Akure.

L-R: Founder, Support Our Troops Foundation (SOTF), Mrs. Funmi Ogbue; Minister of Culture, Tourism and National Orientation, Chief Edem Duke; member, board of Trustees of SOTF, Mr. Femi Adesila and others, during a road walk by the foundation in Abuja.

L-R: Principal, Baptist Girls’ Academy, Obanikoro, Mrs. Eunice Akanji; Zonal Education Administrator, Baptist Mission Schools, Deacon Hezekiah Alamu and Principal, Reagan Memorial Baptist Girlss’ Secondary School, Mrs. Titilayo Amune, during the Baptist Girls’ Academy’s 25th Annual Inter-House Sports Competition in Lagos. PHOTO: SULEIMAN HUSAINI

L-R: Managing Director, Dala XYZ, Chinedu Amadi; Managing Director/CEO, Cosmopolitan Micro-Finance Bank, Belema Festus Abibo and Director, Small and Medium Scale Enterprise [SME], Rivers State Ministry of Commerce and Industry, Akara Joe, during a capacity building training program on SME’s in Port Harcourt.

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

L-R: Anambra State Commissioner for Education, Prof. Kate Omenugha; Director, CWO Onitsha Archdiocese, Lady Beatrice Madike; governor’s wife, Ebelechukwu; Governor Willie Obiano and organizer, CWO Aguleri, Clara Egbuche, at the CWO Archdiocese interactive forum in Onitsha.

Ms. Obehi Ojeaga of Corporate Communications, Oando Plc and son of the late Group Managing Director, NNPC, Mr. Murray Adams, at the 12th Aret Adams annual memorial lecture, entitled: “Gas: An Engine of Growth for Nigeria” held at the Muson Centre, Onikan, Lagos. PHOTO: GODWIN IREKHE

L-R: Vice-Chairman, Parents Teachers Association (PTA), Pentaville School, Mr. Olawole Babalola; Chairman, PTA, Mr. Raphael Aweda; Chairman, Prince Ben Ukadike and Director/Proprietress, Mrs. Omotayo Ukadike, during the management and parents’ forum in Lagos.

L-R: Director, Pollution Control, Ecological Funds Office, Mr Shaaibu Yakasai; Representative of the Chief Medical Director, University College Hospital, Dr. Adefemi Afolabi and Deputy Director, Environmental Health Services, Oyo State, Mr. Jimoh Sabiu, during a public enlightenment on medical waste incinerator project of Ecological Funds Office in Ibadan.

Business | Money Line

NEW TELEGRAPH TUESDAY, MARCH 3, 2015

How African countries can manage capital flows, by IMF CHALLENGES

Capital flows come with attendant challenges

Tony Chukwunyem

merging market economies on the continent, which have recorded significant inflows of capital in recent years, should also be aware of the challenges, which such inflows bring. The First Deputy Managing Director, International Monetary Fund (IMF), Mr. David Lipton, stated this at a conference in Mauritius yesterday. Lipton, whose speech was entitled, “Managing Capital Flows: Lessons from Emerging Markets for Frontier Economies, ” noted that while capital flows have brought a lot of benefits to countries, they also come with attendant challenges. He said: “For countries where private flows are mostly to the public sector, the key challenge is ensuring that the capital is used productively—and that public debt remains

sustainable, recognising that repaying the debt will eventually require both higher government revenues and greater foreign exchange earnings.” He pointed out that the main macroeconomic concerns of capital flows include overvaluation of the currency, which may undermine competitiveness and result in economic dislocation

when the flows recede, and overheating of the economy, with inflationary pressures and excessive credit growth. He warned that not all borrowing and lending decisions are rational, adding that inflow-fuelled credit booms can inflate asset prices; risks can be—and often are—underestimated. The IMF top official

stressed that the Fund’s staff had done a lot of research on how countries could reap the benefits of financial globalisation while minimising the risks and challenges of large inflow surges. He said, “Over the past few years, researchers at the IMF having been trying to craft a balanced approach to managing capital flows that allows

Abdulwahab Isa Abuja

o relieve tax payers of the burden associated with conventional tax remittances, the Federal Inland Revenue Service (FIRS) has introduced online tax payment. In a statement yesterday, the FIRS said that with the new innovation, taxpayers can now pay their taxes online by logging into the internet banking platform of any commercial bank in Nigeria, choosing the FIRS link and following the prompting. According to the statement, the new technology is collaboration between FIRS, the Nigeria Inter-Bank Settlement System (NIBSS) and Systemspecs Limited.

The statement said the Acting Executive Chairman of the FIRS, Alhaji Kabir Mashi, has launched the new product in Lagos. Mashi said the e-Tax Pay Solution is a self-service FIRS channel available on all commercial banks ‘ Internet banking platforms. He said once a taxpayer logs into any bank’s Internet banking platform, he can click the FIRS link to pay his taxes and or submit necessary documents, the same way he may choose to pay other bills. “It is that simple. It is that convenient. It is that accessible and it is very secure. Taxpayers do not have to go to any tax office before taxes are paid. Tax payment is just a click away”, representative of the Acting Executive Chairman of FIRS, Achilis

As at N16,833,244.57 N16,509,472.5m 8.2 0.0000 13 10.899 7.96 17.01 US$61.39 US$32,306,782,665

Description

TTM

4.00% 23-Apr-2015 13.05% 16-Aug-2016 15.10% 27-Apr-2017 16.00% 29-Jun-2019 16.39% 27-Jan-2022 10.00% 23-Jul-2030

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

Dec, 2014 Dec, 2013 Feb, 2015 2/5/2014 24/2/2015 11/6/2013 Dec, 2013 Dec, 2013 24/2/2015 19/5/2015 Source:CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Bid 12.10 12.10 12.05

Bid Spot ($/N) 163.28 THE FIXINGS –NIBOR,NITTY and NIFEX of February 6,2014

Offer 163.38

pliance for the taxpayers and reducing interface between the taxpayers and tax authorities. It provides added convenience for taxpayers who will now sit at the comfort of their homes and offices and upload their tax returns on the e-Tax Pay Solution platform”, Mashi further explained.

Naira gains on dollar sales by oil firms Tony Chukwunyem

he naira strengthened by 1.13 percent against the dollar on the interbank market yesterday boosted by dollar flows from two energy companies, traders said. The naira closed at N199.7 to the dollar compared with N202 on the interbank market on Friday, dealers said. The Central Bank of Nigeria (CBN) had set its intervention rate at N196.8/197.8 to the dollar but the initial dollar supply came from Royal Dutch Shell which sold an undisclosed amount of dollars and Eni which sold $15

U Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

million. The local currency suffered its biggest monthly fall in over five years in February on concerns over political uncertainty and the central bank’s ability to manage a currency hammered by weak oil prices. “There was not much of activity in the market today (yesterday), apart from dollar sales by the two oil companies, which boosted liquidity a bit and supported the naira,” said a trader. Traders predict that the naira would be boosted by availability of dollar inflows through anticipated monthend sales by oil companies during the week.

Open-Buy-Back (OBB) Overnight (O/N)

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

nited Bank for Africa (UBA) has introduced an online banking solution called U-Social, which offers flexibility and convenience to customers who desire to do banking transactions on social media using their Facebook account. Sterling Bank Plc first introduced this product several months ago. According to a statement issued by the UBA, “the USocial is designed to promote financial inclusion and to make the bank’s services available to customers re-

gardless of the time and their locations.” U-Social comes as onlinebased application on Facebook, it is easy to download and immediately syncs with the user’s Facebook account. U-Social is also an easy-touse and secure banking solution, which is accessible to all UBA customers who are on Facebook. Users accessing U-Social according to the statement, are immediately presented with four options including; open account, enrolment, locate services and settings.

Afren gains another extension on debt payment

Money Market Offer 11.85 11.85 11.80

Amahwe, explained. “It is this quest for simplification of tax payment process and ease of access to tax services that led FIRS to recently roll out the electronic filing service under the Integrated Tax Administration System (ITAS). It serves as a means of reducing time and cost of com-

UBA launches new product on Facebook

Treasury Bills Maturity Date 08-May-14 07-Aug-14 22-Jan-15

structure projects, sound judgment is required to assess realistically social rates of return, as well as the government’s ability to raise revenue, and the economy’s capacity to generate foreign exchange. The IMF-World Bank debt sustainability framework, together with recent advances in modeling, can help inform such judgments.”

FIRS, NIBSS introduce online tax payment

Economic Indicators M2* CPS* INF IBR MPR 91-day NTB DPR PLR Bonny Light Ext Res**

recipient countries to reap the benefits of financial globalisation while also minimising the risks associated with inflow surges. Central to this approach is to maintain macroeconomic policy discipline and strengthen financial supervision and regulation. Where private capital flows are mostly financing the public sector, including large infra-

Offer 163.5000 Source: FMDQ

ebt-laden oil producer Afren Plc said it had been given another payment extension by some creditors, a day after the Sunday Times reported that China’s Fosun International Ltd was backing a takeover bid for the company. Afren’s shares according to Bloomberg, rose as much as 39 percent to 12 pence in early trading on the London Stock Exchange yesterday.

The company, whose main operations is in Nigeria, made no reference to Fosun in its statement but said it was having discussions with other stakeholders and new third-party investors regarding plans to recapitalise the company. The Sunday Times said the Chinese conglomerate was backing a $500 million (325 million pound) bid led by Afren cofounder Bert Cooper.

Business | Financial Market News

TUESDAY, MARCH 3, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

2-Mar-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

Bonds FGN Bonds

Price

Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

23-Apr-10 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

4.00 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

535.00 581.39 476.80 20.00 100.00 300.00 351.30 233.90 34.00 600.00 459.68 75.00 150.00 200.00 591.57 223.50

4.00 23-APR-2015 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

TOTAL OUTSTANDING VALUE

4,932.13

TOTAL MARKET CAPITALISATION

4,367.52

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

23-Apr-15 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

0.14 1.46 2.15 2.40 2.50 3.24 4.33 4.64 4.95 6.91 9.03 13.74 14.22 14.72 15.39 19.38

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

14.75 16.37 16.52 16.49 16.48 16.28 16.07 15.99 16.00 16.06 16.25 15.78 15.71 15.64 15.95 16.64

13.68 16.25 16.43 16.41 16.40 16.15 15.97 15.88 15.91 15.98 16.18 15.72 15.65 15.56 15.87 16.57

98.47 95.82 97.45 87.20 85.87 86.29 99.73 71.26 98.45 101.31 90.46 95.61 81.83 59.29 66.20 74.18

98.62 95.97 97.60 87.35 86.02 86.59 100.03 71.56 98.75 101.61 90.76 95.91 82.13 59.59 66.50 74.48

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

24-May-12 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.70 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.23 1.09 1.77 2.13 2.35

2.63 2.27 2.00 1.00 1.00

17.69 18.03 18.49 17.52 17.50

96.07 99.30 96.30 96.18 92.79

31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 10-Oct-20 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21

0.50 0.34 0.85 0.86 2.13 1.40 2.83 2.00 2.02 2.20 2.21 2.40 2.64 4.73 2.70 3.25 5.74 5.83 3.49 3.52

4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 2.74 1.00 1.00 1.94 1.44 1.95

20.37 18.65 20.18 19.19 17.52 17.27 18.18 18.34 17.54 17.52 21.29 17.49 17.44 16.99 19.17 17.28 17.00 17.94 17.66 18.16

96.46 98.24 95.37 97.17 87.04 95.84 90.98 93.28 94.44 94.82 88.17 96.34 96.20 92.04 91.35 94.11 87.41 89.55 92.38 92.39

Agency Bonds FMBN ***LCRM

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 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

TOTAL OUTSTANDING VALUE

322.68

TOTAL MARKET CAPITALISATION

308.28

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

KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS KOGI *EKITI *NASARAWA

12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 10-OCT-2020 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 10-Oct-13 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14

12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 15.00 14.50 15.00

8.50 4.18 4.86 5.73 57.00 25.73 25.00 34.14 9.00 13.73 10.20 27.00 16.23 80.00 26.62 11.10 87.50 5.00 4.55 4.56

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

460.61 421.26

Corporate Bonds ‡ /Agusto BBB-/Agusto

*UPDC *FLOURMILLS

BB/GCR

*CHELLARAMS

A+/Agusto; A-/GCR

NAHCO

A-/Agusto

FSDH

A/GCR

UBA

BBB-/GCR Nil A-/DataPro†; B+/GCR

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.46

1.00

16.83

97.06

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.52

1.00

16.93

97.59

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.60

2.63

18.51

97.55

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.58

1.00

17.45

94.06

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.65

1.34

17.80

95.05

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.58

1.00

17.46

91.00

*C & I LEASING *DANA#{r}

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.60

1.88

18.33

100.26

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

6.30

09-Apr-18

1.60

3.48

19.93

95.05

*TOWER

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.90

09-Sep-18

1.77

5.20

21.69

95.19

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.80

09-Sep-18

1.77

5.06

21.55

92.72

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.56

1.00

17.20

91.71

AAA/DataPro†; A/GCR

*TOWER

A/Agusto; A/GCR

UBA

Bbb+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.40

18-Oct-18

1.88

2.29

18.80

95.55

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

17-Feb-19

2.21

6.11

22.62

92.70

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.83

2.16

18.55

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.70

2.76

18.76

87.94

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

30-Sep-14

11.93

0.10

30-Sep-24

9.58

1.00

17.31

75.20

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.58

1.00

17.31

81.29

BBB-/DataPro†; BB/GCR

#{r}

Nil A+/Agusto; A-/GCR A/GCR

STANBIC IBTC STANBIC IBTC

A/GCR

TOTAL OUTSTANDING VALUE

132.70

TOTAL MARKET CAPITALISATION

122.25

94.61

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.95

1.00

17.36

83.98

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

16.99

81.79

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

24.95 20.67 Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

6.64

6.46

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

100.50

101.41

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.96

5.63

97.49

98.45

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.88

6.72

96.83

97.83

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,474.07

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

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

136.44

45.00

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.94

100.63

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

13.65

87.28

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

13.91

13.03

82.38

84.38

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

10.79

9.97

85.76

88.01

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

41.72

40.50

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

9.91

87.82

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

15.45

14.49

79.75

82.31

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

14.35

77.00

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

AFREN PLC III ACCESS BANK PLC II FIRST BANK LTD

6.63 DEC 09, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

09-Dec-13 24-Jun-14 23-Jul-14

6.63 9.25 8.00

360.00 400.00 450.00

09-Dec-20 24-Jun-21 23-Jul-21

28.32 14.52 14.17

28.32 13.98 14.17

40.00 78.75 74.00

40.00 80.63 74.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.47

10.66

87.13

90.50

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4,760.00 3,562.20

**Treasury Bills DTM 10 17 24 31 38 45 52

FIXINGS Maturity 12-Mar-15 19-Mar-15 26-Mar-15 2-Apr-15 9-Apr-15 16-Apr-15 23-Apr-15

Bid Discount (%) 12.78 11.36 13.57 13.95 14.08 13.93 14.02

Offer Discount (%) 12.53 11.11 13.32 13.70 13.83 13.68 13.77

Bid Yield (%) 12.82 11.42 13.69 14.12 14.29 14.17 14.31

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.9583 15.5089 16.8804 17.7581

Rate (%)

OBB

11.21

O/N

11.54

Tenor Call

REPO

Rate (%) 12.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M

200.29 201.81 202.13 202.87 204.24

200.39 201.93 202.28 203.37 205.31

TOTAL OUTSTANDING VALUE

322.68

TOTAL MARKET CAPITALISATION

308.28

Sub-National Bonds A/Agusto KADUNA A-/Agusto *EBONYI BBB+/Agusto *BENUE ‡ /Agusto *IMO ‡ /Agusto; ‡ /GCR LAGOS ‡ /Agusto *BAYELSA NEW‡ TELEGRAPH TUESDAY,EDO MARCH 3, 2015 /Agusto ‡ /Agusto; A+/GCR *DELTA ‡ /Agusto; A-/GCR NIGER ‡ /Agusto; A-/GCR† *EKITI ‡ /Agusto *NIGER ‡ /Agusto; A-/GCR *ONDO BBB+/Agusto; A-/GCR *GOMBE ‡ /Agusto; ‡ /GCR LAGOS BBB-/Agusto; A-/GCR *OSUN ‡ /Agusto *OSUN ‡ /Agusto; ‡ /GCR LAGOS A-/Agusto; BBB+/DataPro KOGI ‡ /Agusto *EKITI A-/GCR *NASARAWA