Wednesday, april 15, 2015 binder1 by Newtelegraphonline

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Vol. 2 No. 419

Wednesday, April 15, 2015

@newtelegraph1 www.newtelegraphonline.com

N150

Fayose wins at supreme court, jubilation in Ekiti }7

IMF retains Nigeria’s 2015 growth at 4.8% Ayodele Aminu Washington D.C

he growth of the Nigerian economy is expected to remain

unchanged at 4.8 per cent in 2015, the International Monetary Fund (IMF) has said. IMF, which made the projection yesterday in its April 2015 World Econom-

ic Outlook (WEO), however, slashed sub-Saharan Africa’s growth from 5.1 per cent to 4.5 per cent. But it left its projected global growth unchanged at 3.5 per cent.

IMF had, last January, slashed Nigeria’s economic growth forecast for this year to 4.8 per cent, compared with 7.3 per cent last October. The fund, which made

the cut known in its WEO update released in Beijing, had also cut its 2015 economic growth forecast for sub-Saharan Africa by almost one percentage point due to falling oil

prices, which curbed output in the region’s biggest economy. Sub-Saharan Africa’s economic growth was forecast by the IMF to expand CONTINUED ON PAGE 2

Dead or alive? lNigeria, the world ponder fate of over 200 Chibok girls, 365 days after abduction }2

#BringBackOurGirls: Children locked out by security agents at the entrance of the Federal Ministry of Education, during a protest march to commemorate the first anniversary of the abducted Chibok girls in Abuja…yesterday.

PHOTO: ELIJAH OLALUYI

News

WEDNESday, APRIL 15, 2015 NEW TELEGRAPH

Nigeria, the world ponder fate of over 200 Chibok girls, 365 days after abduction Yekeen Nurudeen, Abdulwahab Isa and Philip Nyam Abuja

he campaign for the rescue of over 200 schoolgirls kidnapped from their school in Chibok, Borno State, attracted global attention again yesterday as the mystery over their whereabouts and fate lingered. Pupils from various schools marched on Abuja, as part of activities to mark the occasion, to demand their return. The House of Representatives also made a case for the rescue of the Chibok girls by May 29. The Federal Government restated its commitment to ensure that it unites them with their families as soon as possible. On his part, the United Nations Secretary General, Mr. Ban Ki-moon, called on the world and Nigeria to ensure that the Chibok girls are not forgotten. Yesterday in Abuja, about 219 schoolchildren, known as Chibok Girls Ambassadors, marched on the Federal Capital Territory (FCT) to draw global attention to the campaign for the abductees' rescue. Led by 18-year-old Maryam Ahmed, the Chibok Girls Ambassadors, all dressed in red T-shirts with inscription "#365 days, BringBackOurGirls, Never to be forgotten," carried mini-sign posts bearing the name of each of the abducted girls. They marched from the Unity Fountain to the Federal Ministry of Education, chanting solidarity songs. But they were prevented from entering the premises of the Ministry of Education by a joint team of civil servants and security operatives, which locked them out. After a series of consultations with some officials of the ministry and leaders of BBOG, the teenagers were allowed in, but were told by the Director of Human Resources at the ministry, Mohammed Umar Bello, that Minister of Education, Malam Ibrahim Shekarau and Minister of State for Education, Professor Viola Onwuliri, were both not around to receive them. But the campaigners insisted on seeing Shekarau so that they could present their message to him for transmission to President

Goodluck Jonathan. They took turn to read out their prepared messages after their leader had delivered the general message to the Federal Government in which they gave it till May 29 to rescue the Chibok girls. They broke down in tears demanding why the Federal Government has not rescued their compatriots. Bello who received the protesters in his capacity as acting permanent secretary of the ministry, assured them of government's commitment to secure the release of the Chibok girls. He explained that government was striving to ensure that the girls were rescued alive to rejoin their families. However, the Chairman, Governing Council

of National Human Rights Commission (NHRC), Professor Chidi Anselm Odinkalu, who was part of the protest, carpeted public servants for locking out the Chibok Girls Ambassadors. A visibly angry Odinkalu lashed out at the top civil servants, telling them that they will all account for their deeds when they leave the service. He said: "I wanted to say thank you on behalf of all us who are here and on behalf of our citizens for receiving us. It is always useful not to forget our manners even in difficult circumstances. This is an anniversary no parent would wish on even their enemies. "These children are Chibok Girls Ambassadors and have taken it upon themselves to re-

mind us that the biggest duty of the state is the protection of its youngest, the most vulnerable. And these are our children, particularly the girl child. When we came here, we were locked out and people were afraid to see us. This is the Federal Republic of Nigeria; it unites all of us. "These girls were abducted in an exam that my own daughter also took too. The only reason my child was not abducted was that she took it in a different part of Nigeria and we lost these girls because they took it in a different part of Nigeria. "And when our children came here to say something, public officers who are supposed to protect our children; ensure that these young girls have safe education, are running away from them.

Nigeria is changing and it is important that public officers live up to their responsibility. We cannot run away from our people; we cannot be afraid of our people. "It is totally offensive, I said this with every sense of responsibility, for public officers to run away from us and lock us out of our building. You exist in this building because you exist to serve us." The solidarity march, organised by the BringBackOurGirls (BBOG) advocacy group to draw global attention to the abduction of the Chibok girls by Boko Haram on April 14, 2014, was heavily guarded by policemen and officials of the Federal Road Safety Commission (FRSC). In her speech, Conve-

ner of BBOG, Hadiza Bala Usman, lamented the absence of Shekarau and Onwuliri as their offices were written about the march. She said the march was an indication that Nigerians had been able to come together and raise their voices for the vulnerable. "The Chibok girls have been in captivity for one year today and BringBackOurGirls have been raising their voice literally for one year; 360 up till today. I want us to realise we as a people can stand united against an issue and anybody in government or outside of government that thinks Nigerians cannot demand accountability is in for a rude shock," she stated. Two foreign diplomats, Ambassador of Ireland to Nigeria, Sean Hoy and CONTINUED ON PAGE 6

L-R: Abia State Chairman of the All Progressives Congress (APC), Hon. Donatus Nwankpa; Founder, Reality Organisation Worldwide, Mrs. Eunice Uzor Kalu and a former member, House of Representatives, Hon. Nnanna Uzor Kalu, at the presentation of APC's membership card and constitution to Mrs. Uzor Kalu in Aba...on Monday.

IMF retains Nigeria’s 2015 growth at 4.8% CONTINUED FROM PAGE 1

4.9 per cent this year, down from 5.8 per cent, and grow to 5.2 per cent in 2016. The Fund, which projected a growth of 5.5 per cent for Nigeria in 2016 in its latest report, however, said the country’s inflation would rise to 9.6 per cent and 10.7 per cent in 2015 and 2016 respectively. It urged Nigeria and other oil exporting countries in the region to undertake prompt fiscal adjustment to address the persistent terms of trade shock that they are facing. “Where feasible, such

adjustment should be combined with increased exchange rate flexibility. Elsewhere, to sustain high inclusive growth, policies will need to continue to strike the right balance between scaling up public investment and preserving debt sustainability and rebuilding fiscal buffers,” the IMF said. Besides, it said the current environment of low prices provided a unique opportunity for oil exporting countries to undertake politically difficult reforms to eliminate remaining fuel subsidies. “In anticipation of pos-

sible surges in the volatility of the exchange rate and capital inflows, countries should also carefully monitor their financial sectors and those planning Eurobonds issues may need to prepare contingency plans,” it added. Oil prices have plunged by more than half since June, curbing revenue and investment plans in Nigeria, which relies on crude proceeds for about 75 per cent of government revenue. Nigeria’s currency, the naira, has slumped 18 per cent against the dollar since June last year to a

record low of N200 at the close of business yesterday. Foreign-currency reserves, which the Central Bank of Nigeria (CBN) uses to defend the naira, have also slumped to $29.514 billion as at Monday. Going by the 2015 budget, Nigeria's economy is projected to grow 5.5 per cent, down from an earlier projection of 6.4 per cent, due to lower oil revenues. Nigeria's economy had grown by 6.21 per cent in the first quarter of 2014, up from 4.45 per cent in the same period last year.

This was however; lower than 6.77 per cent recorded in the fourth quarter of 2013. Nigeria’s economy had grown 6.5 per cent and 7.0 per cent in 2012 and 2013 respectively and was projected by the World Bank to grow at 6.7 per cent, 5.5 per cent and 6.1 per cent respectively in 2014, 2015 and 2016. Last year at the 2014 World Bank/IMF meetings, the World Bank had also forecast that African economies, including Nigeria’s, would strengthen to 5.2 per cent yearly between 2015 and 2016 from 4.6 per cent in 2014.

News

NEW TELEGRAPH WEDNESday, APRIL 15, 2015

Military’ll retake Sambisa Forest before May 29, says NSA Emmanuel Onani

he National Security Adviser (NSA), Colonel Sambo Dasuki (rtd), has vowed that the Nigerian military will rout Boko Haram from Sambisa Forest – the sect's last stronghold – before May 29. Dasuki also assured that the Federal Government was doing everything within its legitimate power, to rescue the over 200 schoolgirls of Government Girls’ Secondary School, Chibok, Borno

State, who were abducted by Boko Haram on April 14, 2014. Yesterday was the first anniversary of the girls' abduction. An online medium, PRNigeria, quoted the NSA as making government's commitment in an interview with Sambo. “Right now, all Boko Haram camps, except Sambisa Forest, have been destroyed. “Every movement of the terrorists is being monitored and every necessary detail is being taken care

of to rid the country of the last bastion of terrorists’ infestation. "All known Boko Haram camps will be taken out; they won't be there. "They will be dismantled. In addition to the acquisition of more sophisticated armaments and training of our troops in guerrilla warfare, the new military co-operation

agreed to between Nigeria and its neighbours will prove decisive against Boko Haram," it quoted Dasuki as saying. “Aside the Chibok girls, other Nigerian girls, boys, men and women were abducted by the terrorists and all efforts are being made to rescue them all. “President Jonathan had already given his

words to all the security and service chiefs before the election that he would abide by the decision of Nigerians. At the meeting, he also told them to perform their duties professionally during the polls. “While we anticipated that he would congratulate his opponent if the result is announced in favour of opposition candidate,

he gratuitously without prompting of anyone conceded defeat to the surprise of all. “By that singular gesture, he had saved the security agencies and the nation of unnecessary tension and stress in maintaining law and order and curtailing excesses of likely protesters,” the NSA was further quoted.

US expresses fears over Nigerians' protection

he U.S. Secretary of State, Mr. John Kerry, has predicted that the new government in Nigeria might face the challenge of protecting its citizens against terrorism threats. Kerry made the assertion in a statement by the African Regional Media Hub of the United States Department of State yesterday in Lagos. The statement quoted Kerry as making the prediction after signing a Memorandum of Cooperation to support disease control and prevention in Africa with the African Union (AU) in Washington D.C. “One of the principal challenges facing the new government in Abuja will be that of protecting Nigerian citizens from

the terrorism threat. “The U.S. endorses the effort by the AU and its partners to establish a multinational taskforce to halt Boko Haram’s campaign within and beyond Nigeria's borders. “We will also continue generally to help African governments to improve their counter-terrorism and border security capabilities,” it stated. The statement expressed the U.S. government’s commitment to promoting cordial relationships with African countries. It added that the government had learnt that diplomatic and peacekeeping initiatives in Africa work best when they were African-led. “And there are opportunities and challenges at the same time,” he said.

Ekiti State Governor, Ayo Fayose, celebrating the judgement of the Supreme Court in Ado Ekiti…yesterday.

Nigeria to witness first airline code-share pact Wole Shadare

igerian may soon witness the first airlines partnership through code-sharing agreement. The Chairman of Air Peace, Allen Onyema, dropped the hint yesterday. He said his airline would rather go into codesharing with any airline that is ready to do business with it than merger. According to Onyema, “We can go into code-sharing with any airline that wants to do business with us. We will prefer codesharing to merger. We have invested so much into our operation than to merge with another airline that is not ready to pursue our goal in setting up of the Air Peace. We want to employ more Nigerians. We are out to provide jobs for Nigerians.” A code-share is an aviation business arrangement where two or more airlines share the same

flight. Most of the major airlines today have codesharing partnership with other airlines, and code sharing is a key feature of the major airline alliances. Typically, code-sharing agreements are also a part of the commercial agreements between airlines in the same airline alliances. Speaking on his expansion plans, the airline chief said: “We take it a day after another. First and foremost, we started with a fleet of seven aircraft. If we have started with two aircraft, yes, we might be talking of expansion now but we started with seven aircraft. At times with more aircraft, they are not available for operation, because they are down or probably, they have gone for maintenance. “However, nobody wants to be static. We look forward to adding to our fleet. When God says it is time for expansion, we will do that. It is the wish of ev-

ery airline to expand. We do not want to bite more than we can chew. Greed at times can make people want to service every route. For us, we want to be sure the route we want to operate will be viable.” He lamented the high cost of aircraft maintenance which is dollarized, hinting that light maintenances are done in Nigeria while heavy checks are done abroad. Aircraft maintenance checks are periodic inspections that have to be done on all commercial/ civil aircraft after a certain amount of time or usage; military aircraft normally follow specific maintenance programmes which may or may not be similar to those of commercial/civil operators. He disclosed that his firm had outsourced its maintenance to a British company anchored by BTC Maintenance Aviation Limited, adding that they are in the country.

Nigeria, Russian firm to build $80bn nuclear power plants

igeria and a Russian company have signed an agreement to build four nuclear power plants worth about $80 billion in the country. According to a report yesterday by Reuters, Nigeria signed the agreement with Russia's Rosatom to cooperate on the design, construction, operation and decommissioning of an atomic power facility. Chairman, Nigeria Atomic Energy Commission, Franklin Erepamo Osaisai, said the first nuclear plant would be operational in 2025. It will be increased to four plants with a total capacity of 4,800 megawatts by 2035, with each facility costing $20 billion. One megawatt can power 2,000 average European homes or nearly 333 in Japan. Rosatom will hold a ma-

jority stake in Nigeria's nuclear facilities while the rest will be owned by the state, with roles to be defined in contractual agreements, Osaisai said. The plants will be financed by the vendor, which will then build, own, operate and transfer them to the government, he added. The Nigerian government "will enter a powerpurchasing agreement for the nuclear plant". "A joint coordination committee is in place and negotiations are ongoing for financing and contracting. We are meticulously implementing our plans," Osaisai said at a conference in Kenya's Kwale coastal region. Nigeria's peak electricity output is about 3,800 megawatts, with another 1,500 megawatts unavailable because of gas short-

ages. Meanwhile, South Africa, which has a third of Nigeria's population and eight times more installed capacity, has also signed an agreement with Rosatom to add 9,600 megawatts of nuclear power to its stressed grid. South Africa's agreement with Rosatom gave the firm the right to veto the nation doing business with any other nuclear vendor, the Johannesburgbased Mail & Guardian reported in February. The Russian company has an international portfolio of orders exceeding $100 billion, Chief Executive Officer, Mr. Sergei Kiriyenko, said in December 2014. The African continent's sole nuclear power station is Koeberg in South Africa, owned by state-owned Eskom Holdings SOC.

Travel Advisory

WEDNESday, APRIL 15, 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

NEW TELEGRAPH WEDNESday, APRIL 15, 2015

News

WEDNESday, APRIL 15, 2015 NEW TELEGRAPH

Jonathan saved Nigeria from anarchy –Mark Chukwu David Abuja

resident of the Senate, Senator David Mark, has declared that the decision of President Goodluck Jonathan to concede the 2015 presidential election victory to Major General Muhammadu Buhari (Rtd) saved Nigeria from impending anarchy. Mark, who made the assertion in his address to senators yesterday, urged all politicians to emulate the spirit of sportsmanship demonstrated by the president. Mark also opined that Jonathan's action did not only save Nigeria from a possible crisis and catastrophe, but had also added value to the consolidation of democracy in Nigeria. The Chairman of the National Assembly further said that the current development in the country had equally paved the way for peaceful democratic transition and consequently, set a new democratic template in Africa, which has been notorious for infamous sit-tight leaders. He said: "I consider it imperative at this point to share my thought with

you. The beauty of every contest is in participating. Sometimes we win and sometimes we lose. It is the same with every election. "Whichever way it goes, as long as it reflects the wishes of the people, and it is in the best interest of Nigeria and Nigerians, we must learn to accept the outcome in good faith. "In this regard, I would like to commend the maturity and sportsmanship displayed by President Goodluck Jonathan, who willingly conceded defeat and immediately congratulated the President-elect, General Muhammadu Buhari, even before the Independent National Electoral Commission (INEC)

announced the result." While commending the members of the National Assembly, who were elected as governors of their respective states, Mark urged them to be good ambassadors to the parliament in their states. His words: "Let me in a similar manner congratulate our colleagues who won their elections as chief executives of state governments. I am sure they will miss this hallowed chambers and our activities when they resume their new positions. Specifically, Senator Atiku Bagudu, Governor-elect for Kebbi State; Senator Jibrilla Bindo, Governorelect for Adamawa State;

Senator Ben Ayade, Governor-elect for Cross River State; Senator Ifeanyi Okowa, Governor-Elect for Delta State. "We also have from the House of Representatives, Hon. Aminu Tambuwal, Governor-elect for Sokoto State; Hon. Aminu Masari, Governor-elect for Katsina State and Hon. Ifeanyi Ugwuanyi, Governor-elect for Enugu State. I urge them to continue to exhibit the highest sense of responsibility and duty anchored on transparency, accountability and honesty which they have demonstrated over the years. These governors-elect are our ambassadors in their respective states.”

Mark noted that the introduction of the card readers added value to the electoral process in the country and urged Nigerians to accept and imbibe the new voting technology. He said: "The card readers have proved to be effective, efficient, and result-oriented. We should embrace this technology. However, INEC must note the areas of its shortcomings based on field reports nationwide and continue to make improvements. "For the successes in the 2015 general elections, special commendation must go to Prof. Attahiru Jega and his team at INEC." Meanwhile, Mark has sworn in Senator David

Umar, the All Progressives Congress (APC) representing the Niger East Senatorial District. The Appeal Court recently declared Umar winner of the by-election which was held last year and declared in favour of Nuhu Zagbayi of the Peoples Democratic Party (PDP), following the death of the former occupant of the seat, the late Senator Awaisu Kuta. Umar would conclude the current Seventh Senate in June and resume as a member of the 8th Senate immediately, having defeated the incumbent governor of the state, Alhaji Babangida Aliyu of the PDP.

TODAY’S WEATHER FORECAST LAGOS

32o C 27oC Isolated Storms

ABUJA

23oC

18oC

Sunny

PORT HARCOURT

36oC

17oC

Partially Cloudy

KANO

39oC

24oC

Partially Cloudy

ENUGU

34o C 24oC Thunder Storms

IBADAN

36oC

24oC

Partially Cloudy

CALABAR

33o C 24oC Thunder Storms

MAIDUGURI

ONITSHA

37oC 18oC Mostly Sunny

36oC

24oC

Partially Cloudy

L-R: Head of Commercials, Lagos Region, Airtel Nigeria, Mr. Charles Bassey; Regional Operations Director, Lagos Region, Mr. Femi Oshinlaja; Area Business Manager, Lagos Central, Chioma Keke; Mrs. Queen Iherobiem; Managing Director, Stanqueen Investments Ltd, Elder Stanley Iherobiem and Marketing Manager, Lagos Central, Airtel Nigeria, Lynda Muibi, during the Airtel Smart Connect road show in Lagos

Nigeria, the world ponder fate of over 200 Chibok girls CONTINUED FROM PAGE 2

his counterpart from Denmark, Torben Gettermann, were also part of the protesters. They told New Telegraph that they came to show solidarity to Nigeria, the Chibok girls, their families and those affected by their abduction. They said that their respective countries identified with the girls and their parents, adding that all must unite to ensure that they are rescued and united with their parents. At another forum yesterday, the Federal Government assured the Chibok community of its commitment to rescuing the abductees. Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, told representatives of the Chibok community at a meeting in Abuja that the government would not give up on the Chibok girls until they

are found. Represented at the meeting by the Permanent Secretary of the ministry, Mrs. Anastasia Daniel-Nwaobia, the minister used the occasion to update them on the status of the Safe School Initiative. According to her, the government has been pursuing a two-pronged approach of trying to rescue the abducted girls and ensuring that the children at home are able to go back to schools that are safe and secure. The Director General, National Orientation Agency (NOA), Mr. Mike Omeri, also assured the community that the government considers the task of rescuing the Chibok girls a ‘top national priority.’ According to him, the government understands that "until we find the Chibok girls, we cannot say that we have done

enough." However, the Kibaku (Chibok) Area Development Association (KADA) Chairman, Abuja, Tsambido Hosea Abana, described the Federal Government’s efforts to rescue the girls as belated. He demanded to know the detailed steps government has taken to ensure the release of the girls. The fate of the Chibok girls also engaged the attention of the House of Representatives yesterday as it passed a resolution tasking the Federal Government to ensure their rescue before May 29. The resolution was sequel to a motion of urgent public importance sponsored by the Chairperson, House Committee on Diaspora Affairs, Hon. Abike Dabiri-Erewa (APC-Lagos), which was unanimously adopted by the house. In the lead debate, Dabiri-Erewa said stated that

it was worrisome that in spite of the collaboration between security forces and the international community to find the missing girls, their whereabouts were still unknown. In a contribution to the debate, Chairperson, House Committee on Foreign Affairs, Hon. Nnenna Ukeje (PDP-Abia), commended the efforts of the BringBackOurGirls campaign group towards rescuing the girls. Other parliamentarians who contributed to the debate applauded the efforts of the security forces so far in tracking the missing girls and appealed to the Federal Government to ensure their rescue before the May 29 handover date. House Speaker, Hon. Aminu Tambuwal, gave assurance that the country will do everything possible to ensure the rescue of the girls. At another occasion to

mark the first anniversary of the abduction, Nobel Laureate, Prof. Wole Soyinka, urged the incoming Buhari administration to reinforce efforts to bring back the Chibok girls. Soyinka made the call in Lagos at a forum organised by the President of Women Arise, Dr Joe Okei-Odumakin. According to the News Agency of Nigeria (NAN), Soyinka urged Nigerians to join hands with the government to ensure that the children are found. "We must make sure that such assault on our humanity doesn't happen again. "The survival of humanity and of the nation must remain paramount," he said. Prof. Pat Utomi, in his contribution, said humanity, the world over, was a shared one and anything that diminished any human and did not touch CONTINUED ON PAGE 7

News

NEW TELEGRAPH WEDNESday, APRIL 15, 2015

Supreme Court affirms Fayose's election lJubilation in Ekiti lPDP lauds judgement, APC faults verdict

Tunde Oyesina, Onyekachi Eze and Wahab Adesina

he All Progressives Congress (APC) yesterday finally lost its legal battle to unseat Ekiti State Governor, Mr. Ayodele Fayose, as the Supreme Court affirmed the decision of the tribunal, which had earlier upheld his election. The APC, after the Ekiti governorship election on June 21, 2014 won by Fayose, had headed to the tribunal to challenge the victory. The tribunal upheld Fayose's election and dismissed the petition. Not satisfied, the APC approached the Court of Appeal to challenge the decision of the tribunal. The Court of Appeal, in turn, dismissed the appeal and also upheld the decision of the lower court. Still not satisfied, the APC had approached the Supreme Court to reverse the judgement of the Court

of Appeal. The appellant had raised 17 grounds of appeal bordering on the fact that the lower court erred to have dismissed its appeal. The appellant hinged its appeal on the grounds that Fayose was not qualified to contest the election, having been impeached for embezzlement. The appellant also alleged that Fayose submitted a forged Higher National Diploma (HND) certificate from The Polytechnic, Ibadan to the Independent National Electoral Commission (INEC). The appellant also argued that the tribunal erred for striking out the names of Inspector General of Police (IGP) and the Chief of Army Staff as parties in the suit. Delivering judgement yesterday, Justice Sylvester Ngwuta held that the tribunal was right to have struck out the names of the IGP and the army chief as parties in the suit. He said: "Appellant did

not show that the IGP and COA have special interest in the election in Ekiti State. It did not even show that they are indigenes of Ekiti State. None of them falls under the category of who can bring a petition to the tribunal as provided by the Electoral Act. Any group outside the officers not employed in the election does so on their own and they cannot answer for their conduct. "IGP and COA at all material time are not staff of INEC, they are not parties to the election in Ekiti State. Assuming they are parties, the relief sought against them is not as to the cancellation of the election, it does not, therefore, make sense to join them." On the issue of impeachment, the court held that the grounds raised by the appellant is not part of the provision of the Electoral Act as to disqualify a governorship aspirant. The court further cited S182 (1)(e) of the 1999 Constitution, which provides

qualification for a governorship aspirant. "A conviction and sentence are the major issues here. The code of conduct is not an impeachment panel. Jurisdiction cannot be shared between the Code of Conduct Tribunal and impeachment panel. Even though, it was alleged that the governor was impeached for embezzlement, he was not arraigned before a court of competent jurisdiction", the court held. According to the court, the first impeachment panel gave Fayose a clean bill while the second panel constituted was unconstitutional because the judge that constituted it did not have the power to do so. The court also held that the Ekiti State House of Assembly did not substantiate the petition and hence one cannot say that he committed any crime. On the issue of certificate forgery, the court held that it is an offence that should be proved beyond reasonable doubt.

"To prove forgery, the original document must be produced and also the forged document. In this case, only one document was produced. Appellant was not even certain that the other name it alleged existed. A person impersonated must have been brought into the case. "The appellant here has failed to prove the case of forgery beyond reasonable doubt and more so the principle of Estopel has caught up with the issue as the matter had once been decided once and hence cannot be litigated over again. "In the final analysis, the appeal is hereby dismissed for lacking in merit. The judgement of the court below is hereby upheld", the court held. Reacting to the judgement, Fayose called on his political opponents to embrace peace, saying there is no need for tension in the state. The governor, in AdoEkiti, said: "To my opponents, I plead with you to sheathe your sword and

L-R: Nobel Laureate, Prof. Wole Soyinka; President, Women Arise and Campaign for Democracy, Dr. Joe Okei-Odumakin; Prof. Pat Utomi and Nollywood actress, Foluke Daramola, at a ceremony to mark the one year anniversary of the abduction of the Chibok girls in Lagos…yesterday. PHOTO: TONY EGUAYE

Nigeria, the world ponder fate of over 200 Chibok girls CONTINUED FROM PAGE 6

others was bad. "Terror is not something we should tolerate. We must confront terror and not sit in our homes complaining. "We must stand up to enforce what we demand. The measure of the progress of any civilisation is how they hold the dignity of the human person. "It's not just about rescuing the girls alone but about staying together and fighting for what is right. "It is however important to recognise that nothing gets done without

a strategy," he said. In a statement yesterday, Ki-moon also called for the release of the Chibok girls. Ki-moon said the Chibok girls must not be forgotten. "One year ago, over 276 girls were abducted by Boko Haram from their school in Chibok, Borno State, in North-Eastern Nigeria. "While some of the girls were fortunate to have escaped, the fate of many remains unknown. "We must never forget the kidnapped Chibok

girls, and I will not stop calling for their immediate release and their safe return to their families," he said. He regretted that Boko Haram had intensified attacks on innocent people in Nigeria and neighbouring countries in the last one year. According to him, hundreds have been displaced from their homes and deprived of the fundamental human rights. He condemned the terrorist group's atrocities, including abduction and use of children for suicide

bombings. Also, a former Ekiti State Governor, Dr Kayode Fayemi, lamented the inability of the present administration to rescue the Chibok girls. Fayemi, who described the abduction as highly ignoble, said the experience of the pupils and their parents and family members was saddening and traumatising. He added that the situation was worsened by the failure of the present administration to properly coordinate and rescue the Chibok girls.

In a statement by his Chief Press Secretary, Mr Olayinka Oyebode, Fayemi urged the incoming administration of President-elect Muhammadu Buhari to make the rescue of the Chibok girls a top priority. “As a father, I can imagine the level of pains, trauma and devastation being experienced by the families of the abducted girls, unfortunately, the government’s attitude to the rescue has been at best uncoordinated, dismissive and lackadaisical," Fayemi said.

join me in the development of Ekiti State. If truly our struggle is about service to our dear state, it is time to come together and channel all our resources towards the development of the state. "I am irrevocably committed to the protection of all, including the opposition in the state. Nobody is infallible, and I am not a perfect being. The only one that is perfect is God, but He, in His infinite mercies has made me the governor of Ekiti State today. "I have a term and tenure; there will be another opportunity for Ekiti people to decide who governs them. Rather than trouble the peace of the state, our friends in the opposition parties should accept the will of God concerning our dear state and wait till 2018." Fayose, who drove round some major streets of Ado-Ekiti, was hailed by enthusiastic crowd that followed him to the Government House. He took time to address the people in places such as Ajilosun, Matthew Street, Ijigbo Junction, Okeyinmi and Okesa Junction during which he reiterated his resolve to live up to the expectation of the people. The Peoples Democratic Party (PDP) has also hailed the judgement of the Supreme Court, describing it as a triumph of democracy and the rule of law. The party, in a statement by its National Publicity Secretary, Mr. Olisa Metuh, said the judgement was a testimony that the judiciary was still the last hope of the common man According to the statement, by upholding Fayose's election, the Supreme Court justices have “given hope to the survival of democracy, especially coming at a time when some officials of key institutions of democracy such as INEC and some security personnel have already started compromising their independence apparently under the dictates of an obsessive APC." But the state chapter of APC said the judgement left moral questions unanswered. Its Publicity Secretary, Mr. Taiwo Olatubosun, in a statement yesterday in Ado-Ekiti, said even though the party had accepted the verdict because it had no choice, there were moral issues arising from the judgment. He added that what flew from that judgement was that citizens could lie with ease under oath and get away with it.

News

national

wednesday, april 15, 2015 NEW TELEGRAPH

Boko Haram abducted 2,000 women, girls in one year, says Amnesty Mojeed Alabi

he Amnesty International has revealed that within the last one year, the dreaded Islamic sect, Boko Haram, abducted at least 2,000 women and girls turning them into cooks, sex slaves and fighters, and sometimes killing those who refused to comply.

This revelation was contained in a report by the international human rights organisation, which was released yesterday as part of activities marking the first anniversary of the abduction of more than 200 pupils of the Government Secondary School, Chibok, Borno State. The report added that many men and boys have

also been taken to join in the extremist group’s fighting across Nigeria. According to the report, Boko Haram has killed at least 5,500 Nigerians during the past year, adding that the group boasts about 15,000 fighters, whose tactics include taking kidnapped women and girls to remote camps where they are introduced to

the group’s version of the Islamic faith; from there, they can be either married off to fighters or trained to join them. Either way, according to interviews in the report, women and girls can fall victim to brutalization and rape. A 19-year-old woman told Amnesty how she had been abducted at a wedding in September 2014,

alongside the bride and the bride’s sister and then held at a training camp in Madagali alongside hundreds of female fighters. She narrated; “I was among the girls trained to shoot. I was also trained on how to use bombs and how to attack a village,” adding that she was gangraped several times by the guerrillas and wished to

remain anonymous. She told Amnesty some of those who refused to convert to Islam or to fight were dumped in a mass grave. Two young men, who also pleaded anonymity with the researchers that at least, 100 were executed in one day in December when the armed group took over Madagali. They said they survived because the killers’ knives had become too blunt to slit more throats. According to the author of the report, Daniel Eyre, the executions, sexual violence and the recruitment of child soldiers are war crimes and crimes against humanity that must be investigated by the General Muhammadu Buhari-led administration when he resumes office on May 29. Meanwhile, Buhari has promised that his administration would quash Boko Haram, but added that the girls’ whereabouts was unknown but that he would try to locate them.

Saraki: The cabinet I expect from Buhari Biodun Oyeleye Ilorin

L-R: Development Manager, Med-View Airline, Alhaji Isiaq Nalah; Chief Executive Officer, Bi-Courtney Aviation Services Ltd., MMA-2, Mr. Christophe Penninck; Managing Director/Chief Executive Officer, Med-View Airline, Alhaji Muneer Bankole and Group Chief Executive Officer, Forte Oil Plc, Mr. Akin Akinfemiwa, at the inauguration of the new Boeing 737 - 400 Aircraft acquired by Med-View Airline on arrival at the Murtala Muhammed Airport-2 (MMA-2) Ikeja, Lagos. PHOTO: TONY EGUAYE

NECO: Union rejects registrar Dan Atori MINNA

arely a week after the appointment of a new Registrar and Chief Executive Officer for the National Examination Council (NECO) by President Goodluck Jonathan, the Academic Staff Union of Research and Allied Institute (ASURI) has decried the non compliance with due process. Prof. Monday Tommy Joshua, was announced on Thursday as the new Registrar and Chief Executive Officer of the institution, following the exit of former Registrar, Prof. Promise Okpalla. The body claimed that the appointment was done in violation of due process. The position of the union was contained in a letter addressed to the Minister of Education yesterday and signed by its Chairman, Comrade Agwu Arisa. According to Arisa, since the inception of our institution (NECO), there has been two Registrars/ Chief Executive Officers.

Diamond Bank retrenches APGA wants Orji, Metuh, others arrested Tony Chukwunyem T for electoral fraud Temitope Ogunbanke

he All Progressives Grand Alliance (APGA) has called on the security agencies to arrest the Abia State Governor, Chief Theodore Orji; National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh and Minister of State for Defence, Colonel Austin Akobundu (rtd) for thwarting the electoral process during the last governorship election in Abia State. APGA, in a statement by its National Publicity Secretary, Okwukwe Ibiam, said Governor Orji and others must be brought to book for openly threatening, manoeuvring and causing an electoral official to reverse an existing ruling. “We call on the Nigerian security apparatus to immediately arrest the trio of out-going Governor T.A Orji, Olisa Metuh, Colonel Akobundu (rtd) and other cohorts, who openly threatened the

guardians of our electoral system last Sunday at the INEC office in Umuahia Capital of Abia State, and thwarted legally sanctioned electoral processes. “These culprits must be brought to book for openly threatening, manoeuvring and causing an electoral official to reverse an existing ruling. We do not have to recount the mental torture the official was put through in order to achieve the dastardly end. “That is not democracy. That was pure thuggery! No electoral officer may face an open or implied threat of bodily harm to his person or associates in the discharge of their duties. We cannot condone outright disrespect for legal guardians of the realm in our electoral system, or it will be open season on all those who can.” The party said the people of Abia State have spoken by voting for the APGA governorship candidate in the state, Chief Alex Otti and therefore, the mandate of the people must not be toyed with.

here are conflicting reports over the number of workers laid off by Diamond Bank Plc on Monday. While initial reports put the number of staff affected by the exercise at over 1,000, sources at the bank told New Telegraph that about 350 workers were let go by the lender which also simultaneously promoted some of its employees. According to a source, even though rumours of the sack had made the rounds since January this year, it still came as a massive shock to staff affected by it. However, when contacted, a spokesman for the bank denied it sacked as many as 1,000 workers. The spokesman, who pleaded anonymity on the grounds that he was not authorized to speak on the issue, said only less than 170 staff that were not successful in the appraisal exercise conducted by the bank were let go. According to him, “What is the total staff strength of the bank that it will sack 1,000 workers?" What happened is that like most banks, appraisal exercises are carried out every year and successful

staff are promoted while unsuccessful are asked to go. In this case, less than 166 staff failed while over 400 were successful and were promoted.” The spokesman also denied reports that the lender planned to shut some of its branches as part of cost cutting measures. In recent times, the tough operating environment triggered by the oil price slump and regulatory headwinds had resulted in banks introducing cost cutting measures including job layoffs. On Monday, Diamond Bank released its 2015 first-quarter result which showed that pre-tax profit fell 9.5 per cent to N8.36 billion from a year earlier. Profit after tax also fell by 10.72 per cent to N25.48 billion in 2014, compared with N28.54 billion in 2013. However, it said, revenue climbed 5.8 per cent during the period to N40.48 billion. Fitch, in a report released on October 8, 2014, said actions aimed at protecting the economy and the banking system by the Central Bank of Nigeria (CBN) lead to Nigerian banks’ assets growth and earnings dropping over the next 18 months.

s Nigerians await the take-off of the General Muhamadu Buhari’s administration, one of the chieftains of his All Progressives Congress (APC), Senator Bukola Saraki, says the incoming federal executive council would be selected based on ‘a balance between the political expectation of people who have supported the political party to win and also on performance.’ Saraki, who spoke with newsmen in Ilorin, Kwara State, also asked Nigerians to be ready for some ‘sacrifices’ if their general expectations from the APC administration would be met as he hinted that some states may have to embark on new forms of taxation to meet economic realities on ground. The federal lawmaker, who had been asked for hints on the qualities that will inform the choice of the presidential cabinet, said it was necessary for the APC leadership to ensure they pick those who can perform so that the party does not run into the same problems as the Peoples Democratic Party (PDP). He said: “I think the President-elect has emphasised the issue of integrity and capacity. It is not going to be a tea party. There is work to be done. We have the mess to clean up."

NEW TELEGRAPH wednesday, april 15, 2015

News

national

Dstv defies court order, implements new tariff Dele Alao

ndications have emerged that Multi Choice Nigeria Limited, operators of the Digital Satellite Television, popularly known as DStv, has gone ahead with the implementation of its new tariff regime. This is against the order of a Federal High Court in

Lagos, restraining the pay TV platform from implementing its new rates and increase in tariffs payable by its subscribers across board as announced early in the year. Many subscribers, who spoke to our correspondent, confirmed the take-off of the new tariff regime. A subscriber, Mr. Sunday Ojeme, who is on a

Power sector privatisation reform must be conclusive — Amadi Johnchuks Onuanyim Abuja

he chairman and Chief Executive Officer of the Nigeria Electricity Regulatory Commission, Dr. Sam Amadi, has stated that the Power Sector Reform on privitization must be conclusive. Amadi, who debunked the publication in a National daily that he had suggested the cancellation of the privatization in the power sector, stated that he is an avowed believer in the

Warri

he last may not have been heard of the crisis rocking the $16bn Export Processing Zone project in Delta State. Ijaw and Itsekiri youths in the coastal are again locked in a fresh violent confrontation. No fewer than three houses were razed in Madangho, an Itsekiri community, while scores of persons suffered several gunshot, machete cuts and other injuries in the fracas. The fight this time, centred around who, between Ijaw and Itsekiri youths, should clear the site for the project.

All sorts of dangerous weapons, New Telegraph gathered, were freely deployed during the crisis, which started in the late hours of Monday and raged on till the early hours of yesterday (Tuesday). A source told our correspondent that some Ijaw workers allegedly encroached on the land allocated to the Itsekiri people, a development that prompted some Itsekiri youths to mobilise to the scene between 11:00pm and 12:00 midnight. They (the youths) reportedly injured an Ijaw night guard and some of his colleagues in the process.

Insecurity: Britain promises assistance to Buhari Yekeen Nurudeen Abuja

he British government yesterday gave assurance that it would work closely with the incoming government of General Muhammadu Buhari to fight insecurity in the country. In a message to Nigeria yesterday by the British Minister for Africa, James Duddridge, the British government specifically

Caroline Oghuma, could not be reached on why the firm goes ahead to implement the new tariff despite the Court order as she neither picked calls or respond to text messages. The restraining order was given by Justice C.J. Aneke sequel to a suit filed by two Lagos-based legal practitioners, Osasuyi Adebayo and Oluyinka Oyeniji. In the class action suit, with number FHC/L/ CS/404/2015, Justice Aneke granted the interim orders till the hearing of the mo-

tion on notice for injunction on April 16, 2015. He also ordered for the suit and the Interim injunction to be published in national newspapers. Messrs. Adebayo and Adeniji are challenging the arbitrary increase in tariffs. The legal practitioners urged the court to order the second defendant, the National Broadcasting Commission, to also implement Pay Per View where subscribers choose the programmes they want and pay as they

watch, which is being implemented in some other parts of the world. In the order given on Thursday, Mr. Aneke ruled: “That an order of interim injunction is hereby granted to the parties to maintain the status quo restraining the 1st defendant (Multichoice/ DSTV) from giving effect or enforcing its planned increase in cost of the different classes of viewing or programmes bouquet, pending the hearing and determination of the motion on notice.

privatization of the sector. The NERC boss, in statement from the Media office of the Commission, stated that the report of the national daily was contrary to his opinion on the subject matter. The statement reads: "We want to state categorically that the above caption was completely taken out of context and does not reflect the position of Dr. Sam Amadi, Chairman/ CEO of the Nigerian Electricity Regulatory Commission (NERC).

$16bn Delta EPZ project: Ijaw, Itsekiri youths clash again Joe Obende

premium bouquet ,said that he had wanted to pay the new tariff yesterday at an outlet in Isheri-LASU area of the state but for network failures. A source close to the company but who pleaded for anonymity said that the country was running a free market enterprise and therefore, the Court had no right to fix the price for a company. “Would you fix a price for a laptop seller or phone seller?” the source queried. Public Relations Manager, Multichoice, Ms.

said it would help Nigeria restore security and prosperity to areas blighted by the Boko Haram insurgency. In the message, which was meant to join Nigeria to commemorate one year that the Chibok Secondary School girls were abducted by the Boko Haram terrorists group, Duddridge said; "the UK is supporting Nigeria and its neighbours in efforts to end the conflict and find those abducted".

L-R: Deputy Director, Client Services, tpt International, Mrs. Shade Okogwu; Manager, Corporate Communications, Promasidor Nigeria Limited, Mrs. Ebi Akpeti; Managing Director, Mr. Charles Igbinidu; Head/Legal & Public Relations, Promasidor Nigeria Limited, Mr. Andrew Enahoro; Business Development Manager, New Telegraph newspapers, Mr. Taiwo Ahmed and Head, Admin, Mr. Robinson Ezeh, during Promasidor’s management team's courtesy visit to the company in Lagos…yesterday. PHOTO: GODWIN IREKHE

INEC observers rate Akwa Ibom guber election high Tony Anichebe Uyo

network of INEC Domestic Election Observers and CSOs on the just concluded general elections in Akwa Ibom State, have advised candidates and stakeholders, who are aggrieved over the announcement of the results, to channel their grievances to the Election Petition Tribunal, in line with

the electoral acts. Giving a situation report by the group, at a news briefing in Uyo, the Chairman of the INEC Accredited Election Observers to Akwa Ibom State Governorship and State House of Assembly Election, Otunba Femi Sanusi, described the election as "free, fair and peaceful." Sanusi, who read the press statement signed by him and Director of Publicity of the group,

Ambassador Felix Ihonre, said apart from high level of participation by the electorate alongside local and international observers, there were also adequate security and press coverage on the election. He scored availability of election materials, 97 per cent on the turnout of voters; 95per cent on adherence of INEC, security, press and observers to the code of conduct, 95 on behaviour

of INEC staff to voters and organization of the election, 90%. According to him, although "there were pockets of disagreements in some polling units, INEC and security operatives intervened and restored peace in due time, in such units." The INEC Accredited Domestic Election Observers to Akwa Ibom State, were coordinated by the UNESCO Centre and CSOs Network.

Jonathan sends N299bn NDDC 2015 budget to Senate

he Senate yesterday received a N299 billion 2015 Appropriation Bill for the Niger Delta Development Commission (NDDC) from President Goodluck Jonathan. In the bill, which was accompanied by a letter from Jonathan and read by President of the Senate, David Mark, the commission’s budget proposal represented 7.1 per cent drop from its 2014 approved estimate of N322

billion. The proposed budget, according to the letter, is made up of Personnel Expenditure of N16.13 billion, Recurrent Expenditure of N10.42 billion, Internal Capital Expenditure of N1.88 billion and Capital Projects Development Expenditure of N271.09 billion. It stated that the budget would be funded from N10 billion revenue brought forward from 2014, Fed-

eral Government contribution of N70 billion and unpaid arrears by Federal Government amounting to N20 billion. Other sources, it indicated, included contribution from oil companies and other companies totalling N160 billion, Ecological Fund of N40 billion and other internally generated income of N100 million. Estimated income to the commission from

various sources during the period as contained in the letter is N300 billion. Mark also announced the receipt of a request from Jonathan to consider an Act to Enact the National Agency for the Great Green Wall (Establishment) Bill, 2015. The Great Green Wall is a planned project to plant a wall of trees across Africa at the southern edge of the Sahara desert.

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Metro

Death toll hits 10 in Ebonyi electoral violence Uchenna Inya Abakaliki

eath toll in the violence that characterised the governorship and House of Assembly elections in Ebonyi State has risen to 10. The casualties included Emeke Nworie, Monday Ochor, Obinna Nweze, Chigozie Aloh and Kalu Orji. Other casualties were recorded in Ikwo and Izzi. Ochor was beaten to stupor at Effium Ward 1 which led to his death while Nweze and Aloh of Umuezeoka in Ezza North Local Government Area were allegedly shot dead by security agents

File picture of a burning building

Man, sister-in-law die as fire razes building BRAVERY A woman saves her life and her three children by sticking out their heads through a window while the house was on fire Juliana Francis

man and his sisterin-law were burnt to death at Ikotun area of Lagos State, yesterday while the man’s wife and his three children were rescued. They, however, sustained

mild burns. The incident, which occurred at Authority Avenue occurred about 2am, but the cause is yet unknown. The man has been identified as Mr Oseghale. But his wife saved her life and those of her three kids by pulling off the net of the window in her bedroom, from where she stuck her children’s head out, to allow them breathe in fresh air. The woman and the kids were in that position until part of the window was broken by firemen who rescued them. The fire started while the people were still sleeping. The Oseghales were said to

have woken up and discovered their flat engulfed in fire. The Oseghales’ petrified cry for help, roused neighbours who dashed out to help. The help, however, was futile, as nobody could dare the roaring flames. It was gathered that the residents tried valiantly to combat the fire but could not until firefighters came to the scene. The charred remains of Mr Oseghale were found in the sitting room by men of the fire service. They also discovered the body of his sister-in-law, Ngozi, in one of the bedrooms. The Director, Lagos State

Fire Service, Mr Rasak Fadipe, said that his men had difficulty in accessing the flat through the staircase, owing to the iron bars. The director said firefighters had to perforate the walls and thereafter used a ladder before they managed to rescue four persons. He said: “We found the man lying on the floor while another lady, who we gathered just came from the village on a visit, was found burnt in one of the rooms. We were able to prevent the fire from spreading to other flats in the building. We released the bodies to policemen attached to Ikotun division.”

who were on duty during the election. Orji, a Labour Party agent at Nkalaha Ward 1, Ishielu Local Government Area, was shot dead by suspected political thugs. The candidate of the party for Ishielu North constituency and former Chairman of the Nigeria Union of Journalists (NUJ) Ebonyi State Council, Comrade Goddy Okafor, said he was beaten up while his vehicle was vandalised. This, he said, was after Orji, his party agent, was killed. Meanwhile, a man, Paul Ogbonna of Agubata village, Echi-aba Development Centre, has lost a hand as a result of attack by suspected political thugs. Ogbonna, who is a tricycle operator and LP loyalist, told our correspondent on his hospital bed that one Amos Nwofe snatched ballot box from his polling unit on the election day and he pursued him and recovered the box. He said: “I was returning home when Amos and his gang accosted me. Amos brought out a machete and used it on my hand.” Ogbonna’s hand was amputated yesterday.

IGP, Sulaiman Abba

Orekoya: I’m dying to have my children back –Mother Camillus Nnaji

T ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

Adebisi with her children

he distraught mother of the abducted three kids, Mrs. Adebisi Orekoya, has once again appealed to Nigerians to help locate and rescue her children. The woman, who was wailing while appealing women groups, relativesandsympathiserswhokeep thronging her residence, said she was dying to see her children again. She said: “How can someone kidnap an 11-month-old baby. How can one kidnap three children from one parent? I have an 11-month-old, four-year-old and

six-year-old among them, only me. I did not have those children in one day. I am dying; I want to have my children back.” The bewildered mother said it seemed nothing was happening, adding that no assistance had come her way yet. She said: “Where are we going to get N13 million demanded by the kidnappers. No assistance has come our way. Please we are asking for assistance.” Meanwhile, father of the children, Mr Leke Orekoya, had told our correspondent that the abductors had stopped them from speaking to the children on the

phone, while insisting on the said ransom. The Orekoyas’ housemaid, identified as Mary Akinloye, who was employed last week, stole three of her employer’s children the following day from their Lawanson Road, Lagos residence. The children, 11-month-old Aderomola, six-year-old Adedamola and six-year-old Ademola, have not been seen since then. The state Police Public Relations Officer (PPRO), DSP Kenneth Nwosu, told our correspondent that police were making efforts to rescue the children and reunite them with their family.

News 11

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

City Briefs

Two in court over motorcycle theft T

he Police in Ogun yesterday arraigned two men before an Ota Magistrates’ Court for allegedly stealing a Bajaj motorcycle valued at N180,000. The accused, Wahab Mustapha, 22, and Abideen Sakaniyau, 30, of no fixed addresses, are standing trial on a two-count charge of stealing and conspiracy. The prosecutor, Corporal Rosemary Brown, told the court that the accused committed the offences on March 30 about 5p.m. at No.2b, Sannu Fadeyi Street, Ishaka in Ota. Brown, according to the News Agency of Nigeria (NAN), said that the accused conspired to steal the motorcycle belonging to Mr Afolabi Azeez. She said that the accused were caught in the process of committing the crime by the people and were handed over to the police.

Sex workers rob ‘customer’ of N49,000

wo women, Joy Peter and Divine Okoye of Masaka, Nasarawa State, were arraigned yesterday at a Wuse Zone 2 Senior Magistrates’ Court on a two-count of joint act and theft. Peter, 23 and Okoye, 25, both commercial sex workers of Meri-Jeo Hotel, Masaka, were alleged to have conspired and stole some items from the home of a man who patronised them. The prosecutor, Corporal Francis Tanko told the court that on April 8, one James Malu of Wuse 2 reported the matter at Wuse Police Station. He said that on April 5, Malu went to a night club where he met Peter and Okoye, and asked for their services which they obliged, and went home with him. Tanko, according to the News Agency of Nigeria (NAN), told the court that when the complainant went to use the rest room, the accused stole his sandals, spare key of his car, house keys and N49,000 cash and took to their heels. Tanko said that they were eventually arrested on April 8, adding that the offence contravened sections 79 and 288 of Penal Code. The accused pleaded not guilty. Sequel to that, the Magistrate, Mr Aminu Eri, admitted the accused to bail in the sum of N20,000 and one surety each in like sum.

13 held for electoral offences in Edo

olice in Edo State said they had arrested 13 persons for snatching ballot boxes and other electoral offences during state House of Assembly election held on April 11. Eight suspects were arrested during the March 28 Presidential and National Assembly elections in the state for the same offences. The state Police Public Relations Officer (PPRO), DSP Joseph Edoigiawerie, told the News Agency of Nigeria (NAN) in Benin yesterday that the suspects were arrested at different locations in the state. He said 10 of the suspects were arrested in Auchi while three were nabbed at Iguobazuwa in Ovia SouthWest Local Government Area. The PPRO said the suspects would be charged to court after thorough investigations into the matter.

‘I ingested 100 wraps of cocaine for N200,000’

Eliezer

Juliana Francis

46-year-old suspected drug peddler, Ejiofor Eliezer, has said that poverty compelled him to ingest 100 wraps of substance suspected to be cocaine. Eliezer said he would have been paid N200,000, if he had succeeded in smuggling the drugs. He said: “I live in Brazil where I work in a supermarket. I’m married and have four children. I attended Central School, Ukpor. After my primary education, I could not study further owing to lack of

Francis

money. “Life in Brazil is tough because I live from hand to mouth. I have no savings. In fact, it was poverty that made me to smuggle drugs. I took the risk by swallowing 100 wraps of cocaine for N200,000 because of poverty.” Eliezer and three others, Obah Ifeanyi Francis, 30, Akpa Cornelus Sobuzochukwu, 27, and Ike Vincent Okechukwu, 36, were arrested at the Murtala Muhammed International Airport (MMIA) Lagos by the National Drug Law Enforcement Agency (NDLEA). The Head, Media and Pub-

licity, NDLEA, Mitchel Ofoyeju, said the arrests were recorded on Brazil-Nigeria route which had become notorious for cocaine smuggling. He said: “The suspects tested positive for cocaine ingestion and were placed under observation until the drugs were expelled.” The NDLEA Commander at the Lagos airport, Hamza Umar, said the suspects ingested 171 wraps of cocaine weighing 4.19kg. He said: “Eliezer ingested 100 wraps of cocaine weighing 2.155kg. This is the highest single ingestion since January 2015. Francis ingested 40 wraps weighing 740 grams, while Sobuzochukwu ingested 26 wraps weighing 445 grams. Another suspect, Okechukwu, swallowed five wraps weighing 85 grams.” Ofoyeju said that Eliezer and Francis were caught during screening of passengers on an Emirates flight while Sobuzochukwu and Okechukwu were nabbed during screening of passengers on Qatar airline flight. Francis said that he wanted

Cult group kills two in Lagos

Aderanti

Taiwo Jimoh

wo people have been killed when some suspected cult members clashed at Odogunyan area of Ikorodu, Lagos State. The victims are identified as Ayodele Adefiwaji and Lateef Ogunsanya. The police said that those shot 34-year-old Ogunsanya to death wore masks. A police source said that Ogunsanya’s wife told investigators that the cult group had been on her husband’s trail for some time. The grieving widow told the police that she and her husband were living at Ogijo area before, but relocated to

Odogunyan because of the cult group’s threat to her husband’s life. She added that when the cult group came on that fateful day at the weekend, they invaded the house after breaking down the gate. They sighted Ogunsanya and shot him point blank and then proceeded to start hacking him with a machete. The cult group also stormed Olaleye Street and Market Street and unleashed terror on the innocent residents. The residents, who recounted tales of the incident, said that the cult members were wielded dangerous weapons.

One of the residents said: “The cult group had a field day. Two persons were killed.” A police source at the State Criminal Investigations Department (SCID), Panti, Yaba, said: “The first victim who was hacked to death by the cult group was identified as Ayodele Adefiwaji. Ayodele was murdered in front of his apartment at night while he was relaxing. Immediately he was killed, his wife, Adeola Adefiwaji, went to Sagamu Road Police Station to lodge a complaint.” The wife of Ogunsanya said that the death of her husband was not clear to her as those who shot him to death wore masks. She said: “When they came into our apartment, they did not say a word. They came straight to my husband, dragged him out the room and thereafter killed him. “Before they killed him, my husband tried to escape. He was overpowered. They ordered him to kneel down and killed him. Immediately they killed him, they left without taking anything from our home.” The state Police Public Relations Officer (PPRO), Mr Kenneth Nwosu, did not respond to calls and text message sent to his mobile phnoe to confirm the incident.

to make quick money from cocaine trafficking but his friend disappointed him. He said: “I’m single and has been working in Brazil for two years. At present, I work in a bakery and my salary is meagre. My plan was to give the drug to a friend in Dubai but he did not come to collect the drug as planned. This was how I had to come to Nigeria with the drug. I blame my friend for my arrest because I would have made $15,000 from the deal.” Sobuzochukwu, who holds a diploma in Accounting, said that he was frustrated working as a cleaner with poor salary. He said: “I hold a diploma in Accounting from the Institute of Management Technology (IMT), Enugu. I travelled to Brazil in search of better job but I ended up as a cleaner in a train station. “My father is sick and I cannot afford return ticket to Nigeria let alone pay the hospital bill. I know I made a big mistake but I smuggled cocaine out of frustration. I would have been paid $1,500.” Okechukwu said that he was arrested because he made a mistake. He said: “My arrest was a miscalculation. I thought that the five wraps of cocaine would not be detected. I regret my involvement in drug trafficking. I dropped out of school in Junior Secondary School class two and I worked in a toy company in Brazil.”

Missing lady found in morgue Juliana Francis

lady, who went missing two weeks ago at Ajegunle area of Lagos State, has been discovered at the Isolo General Hospital mortuary. The deceased, identified simply as Oluchi, was crushed to death by truck conveying a 40-feet container at Otto-Wharf, on OshodiApapa Expressway. The container fell and crushed the lady to death. The shocked family identified her by the clothes she wore on the day she left for office. The spinster went to work but did not return home the next day. When she did not return that day, her family started searching for her. A police sergeant attached to Ajegunle Police Station said: “The family has been searching for Oluchi since that Saturday, which was a day after Good Friday. “Family members had gone to many places, including hospitals, prisons, and police stations. They even went to mortuaries but all to no avail. But today (yesterday) there was a revelation that the lady was the person crushed by the 40-feet container. “The family members visited the Isolo General Hospital mortuary, where the corpse was deposited and were shocked to see their beloved crushed beyond recognition. They were also shown her clothes and the family wept because Oluchi’s corpse was the one in the morgue and the clothes were what she wore on that fateful day.”

12 News

national

SDP: Why we lost to Amosun Kunle Olayeni Abeokuta

chieftain of the Social Democratic Party (SDP) in Ogun State and loyalist of former Governor Olusegun Osoba, yesterday gave reasons why the party lost in Saturday’s gubernatorial and House of Assembly elections in the state. The party attributed its loss at the poll to the use of text and social media messages by an unnamed opposition party, to confuse its teeming supporters. The SDP had emerged a distant third in the governorship election, poll-

ing a total of 25, 826 votes while the candidate of the All Progressives Congress (APC) and incumbent governor, Ibikunle Amosun, emerged winner with 306, 988 votes to defeat his closest challenger, Gboyega Isiaka, of the Peoples Democratic Party (PDP), who scored 201, 440 votes. But addressing a press conference in Abeokuta yesterday, SDP Chairman in the state, Chief Olu Agemo, said the party’s poor performance at the poll was traceable to the messages sent to the public through the social media on the election day, which he noted negatively impacted the party in the election.

Defiant workers horse-whipped out of offices in Osun Adeolu Adeyemo Osogbo

orkers in Osun State, who rebuffed the directive of their leaders that they should embark on a three-day warning strike beginning from yesterday to press home their demands from the state government, were yesterday horse-whipped by armed thugs, who stormed their offices at the state secretariat. It will be recalled that a factional Chairman of the Trade Union Congress (TUC) in the state, Mr. Francis Adetunji, ordered them to stay away

from their offices for three days, which some of them refused to honour. New Telegraph gathered that when Adetunji ordered the warning strike, another faction led by Mr. Akinyemi Olatunji, Association of Senior Civil Servants of Nigeria (ASCSN), ordered them to be in their various offices. This seems to have caused confusion among the workers, who out of fear of losing their job, opted for the directive of Olatunji before being beaten blue and black out of their offices and described as traitors by the Adetunji faction.

wednesday, april 15, 2015 NEW TELEGRAPH

Ambode needs your support, Fashola tells workers Muritala Ayinla

he Lagos State Governor, Mr. Babatunde Fashola, yesterday called on public servants in the state to cooperate with the Governor-elect, Mr. Akinwunmi Ambode, to enable him to consolidate on the achievements of the state government in the last 16 years. This was even as Ambode pledged to make the state civil service the best in Africa, assuring the state public servants of better days ahead. The two spoke at a 'Thank You' meeting held with the civil servants in the state at the LTV Blue Roof, Agidingbi, commending the workers for their unwavering support in the development of the state. Addressing hundreds of public servants, Fasho-

la said civil servants in the state had proven that government could work, through their selflessness and commitment to duties. He said: “Very few believed that government could work again, but those who held that belief didn't reckon with you. They didn't reckon with your undying spirit and selflessness. They didn't reckon with your determination and 'can do' spirit. “But today, not only have you proven that government can, and will work, but you have also proven that the civil service is really the driver of development in any part of the world.” Harping on the crucial role of civil servants in any society, Fashola said the United Kingdom is preparing for election and that government is

still being run by efficient civil servants in that part of the world. He added: “That says a lot about the role you have to play. The essential content of your training is political neutrality. As individual, we expect that you will have choices. We expect that you will vote. Indeed, democracy is about choice. “If there is no electricity as a civil servant, you are not insulated from the failure of electricity, you buy generators. So, we expect that you have choices. So, I thank all of you for choosing APC, for choosing Ambode and for choosing to keep the model that we have developed. “But apart from coming to say thank you, I also want to appeal to you not to lose what we have achieved. I have said this and I will continue to reinforce it, because if we

lose it, we will have to do it again. We have become a flagship government in Nigeria, but you know getting to the top is easier than staying at the top. The top is where everybody wants to be and so you will have competition.” On his part, Ambode promised a better welfare package for the civil servants, saying that he would take service delivery to the next level, having spent 27 years in the service. According to him, “You have made history for Lagos. For us, you have joined hands to make history for Lagos State and Nigeria. That is what the stories are all about. “Civil service is the best noble service that I have known and that is the way we are going to keep it. So, what I'm saying is that the best is yet to come."

APC to challenge Assembly election results in Ondo Babatope Okeowo Akure

he All Progressives Congress (APC) in Ondo State yesterday rejected the outcome of last Saturday’s House of Assembly election won by the Peoples Democratic Party (PDP), vowing to challenge the results at the Election Petition Tribunal. The results declared by Independent National Electoral Commission (INEC), showed that PDP won 19 seats out of the 24 declared so far, while the rival APC won five seats. The election in the riverine Ilaje Local Government area was declared inconclusive.

Sola Adeyemo Ibadan

mid protests by his supporters yesterday in Ibadan, the governorship candidate of the Accord Party (AP) in Oyo

However, Chairman of the APC in the state, Duerimini Isaacs Kekemeke, condemned the conduct of the election and rejected its outcome, describing the poll as a sham. But the PDP, through its Publicity Secretary, Banji Okunomo, said the election cannot be free and fair since it was not won by the APC. He said the APC is a bad loser and would always condemn any election in which their candidates are not declared the winner. Kekemeke, in his statement made available to reporters, said the result of the election did not reflect the true wishes and aspirations of the people of the state.

L-R: Osun State Deputy Governor, Mrs. Titi Laoye-Tomori ; Governor Rauf Aregbesola and Chairman, Judicial Commission of Inquiry on Ipetumodu and Ashipa Towns Communal Clash/Disturbances, Justice Olajide Falola, during the commission’s submission of report and recommendations to the governor in Osogbo…yesterday

Lagos threatens sanctions on Ebola rumour mongers Appolonia Adeyemi and Muritala Ayinla

gainst the backdrop of rumours of a new outbreak of Ebola Virus Disease (EVD) in Lagos, the Lagos State government yesterday said it is discussing with its Ministry of Justice on the proper way to dish out punitive measures against

those generating such rumours. To this end, the Commissioner for Health in Lagos, Dr. Jide Idris, confirmed that such rumours are against public health law and implored Nigerians to desist from spreading false rumours, adding that such have negative implications. Idris spoke at an interministerial press confer-

ence in Lagos, organised by the Commissioners for Health, Information and Strategy, Lateef Ibirogba and the Commissioner for Special Duties, Wale Ahmed. He said investigation was underway to unravel those behind the rumours, their motives and the best way to tackle them to prevent a recurrence.

Ladoja: I’ll contest result of governorship election State, Rashidi Ladoja, who came second in Saturday's election, formally declared that he would contest the result of the election which pro-

nounced Governor Abiola Ajimobi as the winner. He said the party rejected the result declared by the Independent National Electoral Commis-

sion (INEC) as it did not reflect the true results collated from the polling stations by the agents. The aggrieved members had stormed the

state secretariat of the party in large numbers, alleging foul play in both the governorship and House of Assembly elections.

However, while debunking the rumours, the three commissioners confirmed that Lagos and the entire country is Ebola-free. According to Idris, the first website from where the EVD rumour was generated: www.mercyiblog. com/2015/04/breakingebola-returns-to-nigeria-after.html, has been pulled down. Ladoja, who later visited the secretariat, addressed the crowd, imploring them to be calm, as the party was already perfecting arrangements to challenge the result of the election at election tribunal.

NEW TELEGRAPH WEDNESDAY, April 15, 2015

Interview

I’ll restore honour, dignity, integrity to Katsina –Masari

Victory

Fayose: Cat with nine lives

Governance

Insurgency

Ambode: Lagos on path of continuity, progress

We’ll stop Boko Haram, says Buhari

Politics

The godfather checkmated PARTIES’ PERFORMANCE IN OGUN STATE Election APC PDP SDP Presidential 1 NIL NIL Governorship 1 NIL NIL Senate 2 1 NIL House of Representatives 6 3 NIL House of Assembly 19 7 NIL

Following the dismal performance of his party, the Social Democratic Party (SDP) and its candidates in the 2015 general elections, former governor of Ogun State, Chief Olusegun Osoba, faces a bleak future on the nation’s political scene, writes KUNLE OLAYENI

Breakdown of Ogun governorship election LGA APC PDP SDP Ado-Odo/Ota 36,108 13,763 3,083 Yewa South 10,844 12,915 2,650 Ipokia 16,240 16,877 1,453 Ijebu North 14,317 18,787 2,084 Sagamu 18,491 14,011 978 Ikenne 11,085 8,686 456 Ifo 28,596 5,818 1,464 Imeko-Afon 8,253 12,412 938 Odogbolu 10,129 10,430 1,286 Obafemi-Owode 16,333 6,637 1,237 Abeokuta South 35,511 10,288 1,792 Ijebu North-East 5,992 6,780 587 Abeokuta North 22,740 6,371 1,439 Odeda 10,637 3,633 1,367 Ijebu-Ode 10,570 11,381 571 Ewekoro 10,735 3,275 400 Remo North 7,365 6,567 923 Ijebu North 14,317 18,787 2,084 Sagamu 18,491 14,011 978 Ogun Waterside 8,468 7,400 877 TOTAL 306,988 201,440 25,826

erhaps, one of the biggest casualties of this year’s general elections in Ogun State is erstwhile governor, Chief Olusegun Osoba. In the political firmament of the state, and even nationally, Osoba is not a small fry. The celebrated journalist, who served as governor of the Gateway State from 1992 to 1993 and from 1999 to 2003, was instrumental to the ascension of the incumbent governor, Senator Ibikunle Amosun. He was also a prominent foundation member of the mega opposition All Progressives Congress (APC) which went on to dislodge the ruling Peoples Democratic Party (PDP) from the Presidency. But all the political credentials and enviable legacies may have crumbled with the woeful outing of the Social Democratic Party (SDP), a party Osoba revived to field his candidates for the general elections. The SDP became an inevitable choice after the ex-governor and his supporters defected in the wake of the supremacy battle that engulfed APC in the state

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

Osoba

early last year. It proved to be a disastrous experiment after all as none of the SDP candidates won at the poll. With three Senators and majority of House of Representatives members from the state as well as some state legislators in its fold, the Osoba group was considered formidable enough to spring surprises. Its strategies and sacrifices in the build-up to the 2011 elections largely transmuted the fortunes of opposition elements in the state. The APC national leadership had officially recognised the state executive loyal to Amosun after both the camps of the governor and Osoba conducted parallel congresses and produced different executives in the struggle for party structures. The decision

The party (SDP) suffered excruciating defeat as all its candidates, including serving lawmakers, failed at the election

to recognise the Alhaji Roqeeb Adeniji-led executive tactically stripped the former governor of powers and influence in the affairs of Ogun APC. It was a big blow to Osoba, whose camp boasted of the state’s serving senators, Adegbenga Kaka, Gbenga Obadara and Akin Odunsi; and six House of Representatives members namely Adekunle Adeyemi, Abiodun Abudu-Balogun, Kehinde Odeneye, Bukunola Buraimoh, Babatunde Ogunola and Olumide Osoba. The state deputy governor, Prince Segun Adesegun, some House of Assembly members as well as notable grassroots’ politicians also belonged to the Osoba group. Odeneye, who eventually pulled out of the anti-Amosun

faction, and Hon. Olusegun Williams, who represents Abeokuta South Federal Constituency at the House of Representatives, would later win re-election riding on the governor’s back. Osoba expressed displeasure at the non-approval of his factional executive which was led by Chief Olu Agemo. He described it as “provocation.” He also contended that the decision would have devastating consequences for the APC just as he declared that his supporters would wait for Amosun at the general elections. The former governor also urged his loyalists at ward, local government and state levels to intensify their political meetings. The emergence of Chief John Odigie-Oyegun at the APC National Convention further dashed the hopes of Osoba and his supporters in the APC. They had banked on former Foreign Affairs Minister, Tom Ikimi, to reverse their “humiliation” and had tacitly supported him (Ikimi) in the race for the national chairmanship of the party. But OdigieOyegun, who was sponsored by former Lagos State Governor, Asiwaju Bola Tinubu, emerged, thus foreclosing concession to the Osoba group. At a consultative meeting in CONTINUED ON PAGE 43

Politics

WEDNESDAY, April 15, 2015 NEW TELEGRAPH

I’ll restore honour, dignity, integrity to Katsina –Masari Katsina State GovernorElect and former Speaker, House of Representatives, Hon. Aminu Masari engaged the media at his residence in Katsina State. Masari spoke on his agenda for his state and posited that lack of quality representation at the National Assembly was as a result of political patronage. JOHNCHUKS ONUANYIM reports This is your second attempt at contesting the governorship election of Katsina State and we will like you to share your experience in this election. It is really an experience for somebody to contest election in a party that is in the opposition, especially because of the way we see opposition in this country. I believe that opposition is also a partner in development in the democratic process of a country. Unfortunately, in some quarters, people in the opposition party are seen as enemies and not as partners. So, my experience since I joined the opposition in 2009 is that for you to be in the opposition, you have to be very patient, persevere and also to be steadfast. Once you have an idea which you believe in, you should remain constant and consistent and at the end, God will definitely be with you in terms of succeeding. So, my experience has really been mixed in the sense that the ordinary person want change all the time, but the powers that be always want to maintain status quo. The worst situation is the lack of level playing ground which has been lacking and now, we have seen a simple introduction of card reader that makes it almost impossible to inflate votes and this has made a little difference. Really, with the right leadership in the right place at the right time, Nigeria will get it right. As the new governor of the state, what should the people expect from you? If you passed through our campaign office, we said our project is Restoration 2015 for Katsina. What are we restoring? Traditionally, Katsina is known for investment and producing highly educated and technically sound people. So, our main area,

lSays Buhari’ll be a national, not sectional leader

Our key word here is the people and not about skyscrapers. It is not about road that will not go anywhere, but to develop the people and the people will develop the land

Masari

our first target, second target and third target is education because today in Katsina, the public schools, based on last year’s performance in WAEC, we could not get three per cent. If you take the entire Katsina indigenes, whether they live in Lagos, Abuja or anywhere outside the state, 45,800 of them sat for WAEC and only 4,500 of them got five credits and above in Katsina where the first middle school in northern Nigeria was established; in Katsina where the first generation, second generation and third generation including the Presidentelect were products of the Katsina Native Education Authority. We were the first to open an education account in the UK for the training of our people. But today from 1999 to 2014, we have presented over 255,000 students for WAEC. What did we get out of that? Only 32,000 of them got

We want Buhari to be a Nigerian leader... that will leave a legacy of positive contribution to this country

five credits and above in 15 years. During my campaign, I was able to travel to all the local government areas in the state. We have 34 local governments, I slept in 27 and in each local government, I made sure that I did not follow the tarred road. We will find a rural road to make sure that we see the inside of the local government. What did we see? Sixty per cent of our primary schools have either their roof blown off or the windows are down or the doors are down or no floor. On the average, a classroom is housing about 97 children. What are we talking about? There is a district that the District Head told me that in the whole of the district, only one child has gone into senior secondary school. The rest dropped out because there are no teachers, no classrooms. It is a terrible situation. There was a time we presented over 17,000 students

for WAEC and all we could get was only 370 who passed. We cannot continue like this. So, what we are bringing on the table is the issue of education. Secondly, Katsina is an agrarian state. Our economy was, until the discovery of oil dependent on agriculture and livestock. Where are we today? We can’t feed ourselves. Forget about imported rice, imported macaroni, imported spaghetti, imported everything. If for whatever reason, the import stopped, how do we feed ourselves? People said they are surprised that Russia was able to break down even though they had everything. They could not feed themselves at a time because they ran short of food and that started to expose the weakness in the system they were operating and the country went down. We cannot sit down here and depend on rice from

Politics

NEW TELEGRAPH WEDNESDAY, April 15, 2015

China, India, Thailand when we have water and the land. Before Katsina was created as a state, it was a province. This province was constructing roads, schools, hospitals, courts. It had the police, prison services, the judiciary. They were paying salaries and carrying out development. Why can’t we do anything for ourselves today? The province was also making its contribution to the running of the Northern Nigerian government. Where are we today? If this money coming from Abuja stops, the state cannot survive for one month. As the governor-elect of the home state of the President-elect, a lot will be expected from you. Considering the lean resources available to government since the crash of the price of oil, how do you intend to attract funds to run the state? The problem has always been the fact that we have not always been open, democratic and honest with the people. It is not about resources alone. You think that development depends on money alone? It is not so. Even the military governments were building roads, hospitals and others. Under the colonial administration, the Emirate system was building everything. Democracy is about being opened with the people. If you have money, let the people know that you have money and let them have a say on how this money is spent. Each time, we talk about lean resources. No, it is not about lean resources, but about good management of resources. If you allow the local councils to operate, if you allow a ward to produce a councillor that represents the people and not himself, things will work out well, we don’t have councils now. The needs of the people at the local level may cost you N100,000. If you sit here in Katsina and decide on something of N1 million for them, what if it is not what they need. The key word is not lack of resources, but involving people in decision making. That is the essence of democracy. This state under the Native Authority as a Province was doing well looking after itself. What happened now? We want to look at Katsina in the next 20 or 30 years. There was a time when crude oil was less than $10 and it can happen again tomorrow. We don’t decide because the international community, the powers that be, decide how much they will buy your oil, how many quantity they need from your oil. So, we have no control over pricing, we have no control over the market, we have no control over even the imported products. How can we depend on something that has a life span? Let us depend on the land to give us food. No country is great when it cannot feed itself. You contested the party primaries with some people. What is your plan for them? We have done very well and have already passed that stage. Nine of us contested the primary election and all of us worked for the success of APC in Katsina State. The preparation for the Presidential and National Assembly election as well as the governorship election, each of us was involved and they all brought in materials and their

physical presence into the project. So, we don’t have problems with that, what we are saying is that we are going to do things differently. Even though APC was announced as the winner of the election in the state, the other parties are from Katsina and we will offer a hand of fellowship to them too. We are going to be magnanimous, we are going to be leaders. We are going to provide leadership and not rulership. We have no problem in carrying along anybody who has the interest of the people of Katsina at heart. Our key word here is the people and not about skyscrapers. It is not about roads that will not go anywhere, but to develop the people and the people will develop the land. General Muhammadu Buhari is President-elect while you are the governor-elect. What does this mean to you and how do you think that the emergence of Buhari will help your administration? We are not meeting with Buhari on the platform of political party alone. We have a long standing relationship and now, we have a political relationship. That Buhari is from Katsina State, for us, is a plus and that plus depends on how we manage it. We want Buhari to be a Nigerian leader. We don’t want Buhari to be a regional, zonal or provincial leader. We want him to be a Nigerian leader that will leave a legacy of positive contribution to this country and that is the basis on which people elected him. So, we will help him to maintain and improve on those qualities which the people of Nigeria see in him. We will never do anything that will tarnish his image, his reputation or his standing internationally and nationally. So, for us, Buhari is a plus. When we go somewhere and say I am from Katsina, we want the doors to be open. So for us, it is a plus.

We must get leaders that understand why we need the change in Nigeria. It is not about changing faces or names. It is about changing how we conduct businesses of government at any level

Taking you back to the issue of education, we are aware that your party has a policy on education. Are you going to follow that or you intend to initiate your own? The first item on the agenda of the APC manifesto is human resource development. How can you develop human resources without education? Fundamentally, the position of APC in education is known. In Katsina, the figures were not produced by me, but in collaboration with the Federal Ministry of Education gives Katsina about 20 per cent enrolment rate and some states had 80 per cent enrolment rate. So, their approach and mine will be different, but the goal remains the same. Here in Katsina, we will design a road that will lead us to success on the basis of the basket provided by our political party in the area of education. We will take roads that will lead Katsina to salvage itself, restore the honour, dignity and integrity of the people of Katsina State. We cannot do that outside education. The road that other states will take to reach the destination will be different from ours, but the objective remains the same. You were Speaker of the House of Representatives for four years and that means your politics span beyond Katsina. What kind of lead-

Masari

ership will you suggest for the 8th Assembly in order to assist Buhari in piloting the affairs of Nigeria? Luckily, we are going to have a comfortable majority in the National Assembly. What I have seen as a former member of the House of Representatives is that because of patronage system by the governors, they have destroyed the institution. Patronage system in the sense that for you to become a senator, you must be in the right books of the governor. For you to be a member, you start lobbying the governor to make you a candidate for you to be a member of the National Assembly. Not because the governor believes or even inside you, you believe that you have something to offer other than being attracted by the package and the limelight. Definitely, at the National Assembly, if you play your card well, it is an opportunity to come into limelight. Why do we want to go to the National Assembly? If we go there, what interest do we represent? How do we subsume our local interest into national interest? If you are making an Act, it is for the entire country. If you are participating in the budget, you have to find a way of subsuming your interest into national interest. As long as the interest you represent, the interest of your community cannot find its way into the national development agenda which is the budget, you are no longer providing representation. The reality of the situation is, let us allow the system to work. In determining the leadership, the leadership has to be focus on why we need change. So, we must get leaders who understand why we need change in Nigeria. It is not about changing faces or names. It is about changing how we conduct businesses of government at any level, how do we, as Nigerians do

things. After all, South Africa said it is returning our money after Buhari is sworn in. Why? The international community is comfortable that somebody who will manage the resources well is coming. These are the kind of people we need and it should be the vision of those coming to the National Assembly. I hope they are not going to be attracted by the package, but also by the work. How would you describe your victory as the governor-elect of Katsina State? If you know me well, I am a normal person. I don’t look at things in such a way that it will carry my mind off the direction. We have promised, we have pledged and we have prayed that God will give us the opportunity to restore the honour, dignity, prestige and integrity of the people of Katsina State and this is what we are going to work for. We see it as a challenge. I am not here to make a new name. As Speaker, I was the only person in the country that was given a presidential treatment anywhere I go to in the country. I am here because we believe that without executive power, you cannot make any meaningful contribution to development in this country at this point in time. That is why I have decided to come back home and see how I can pay off and repay the debt because I am a product of public institution. So, I cannot be there and watch the public institutions, where 99 per cent of our people started from crumble. If you are having 20 per cent pass from Katsina State, where will Katsina be in 20 years’ time? It means we will be nowhere. In the scheme of things in Nigeria, there are some states that if they stop going to school, it will take us 30 years in Katsina to catch up with them.

16 Politics

WEDNESDAY, April 15, 2015 NEW TELEGRAPH

Fayose: Cat with nine lives Yesterday, the Supreme Court upheld the election of Ekiti State Governor Ayodele Fayose and dismissed the petitions of the All Progressives Congress (APC). ADESINA WAHAB writes on Fayose’s struggles and victories

ince he came to political limelight in 2003 when he emerged the governor of Ekiti State on the platform of the Peoples Democratic Party (PDP), Peter Ayodele Fayose, has contended with a number of political battles. His first baptism of fire was when the Alliance for Democracy (AD), whose candidate and incumbent governor then, Otunba Niyi Adebayo, he defeated in the election, headed for the court. The party filed a petition at the Election Petition Tribunal challenging his victory. The AD also went to the Court of Appeal, Ilorin, Kwara State after it lost at the tribunal. The party lost there too. Among the issues raised by the AD against Fayose’s electoral victory was that he did not possess some of the academic credentials he presented to the Independent National Electoral Commission (INEC). The party also accused him of impersonation. The legal hurdles took Fayose nearly two years to clear. Barely two years after, he had to fight another battle over the execution of some projects, especially, the Integrated Poultry Project. The PDP-dominated House of Assembly started an impeachment proceeding against him. However, controversy trailed the setting up of the panel that heard the charges levelled against him. The then Chief Judge, Justice Kayode Bamisile, set up a panel that exonerated the governor. The legislators felt dissatisfied and appointed Justice Jide Aladejana as the Acting Chief Judge and his own panel found Fayose guilty and was impeached. The then Chief Justice of Nigeria (CJN), Justice Alfa Belgore, who was also the Chairman of the National Judicial Council

Fayose

(NJC), faulted the process. He held that the Assembly lacked the capacity to appoint Aladejana as acting CJ. After leaving office, he went on a political recess and emerged during the fierce battle between Dr. Kayode Fayemi and Chief Segun Oni for the exalted office of the state governor. He pitched his tent with Fayemi of the then Action Congress (AC) against Oni of the PDP. The rest is history. When the contest for the PDP governorship ticket for the 2014 election was at its peak, most of the aspirants were for the emergence of a consensus candidate, while he was the only one that stood for the conduct of a primary election. He emerged victorious in that political battle too and eventually defeated Fayemi of the All Progressives Congress (APC) in all the 16 local government areas of the state.

Governor Ayodele Fayose’s reaction to the judgement of the Supreme Court validating his June 21, 2014 lectoral victory

want to sincerely appreciate Ekiti people for their resilience and love for me. I am formally dedicating this victory to God and to them. Having voted for me 10 months ago, and confirming the victory by the subsequent elections in the last few weeks, they have shown that they are unequivocal about their choice and their determination to protect and defend that mandate. I cannot but appreciate the apex court for protecting democ-

Even though, it was alleged that the governor was impeached for embezzlement, he was not arraigned before a court of competent jurisdiction”, the court held

Again, the APC headed for the election tribunal, somehow complementing the suit filed by a group, the E-11 challenging his eligibility for the election. The three-man panel, headed by Justice Mohammed Sirajo, on December 19, 2014 upheld Fayose’s electoral victory and dismissed the petition filed by the APC. The party also appealed the judgement. The five-man Court of Appeal panel, led by Justice Abdu Aboki, heard various grounds of appeal by the APC, among which is Fayose’s alleged violation of the provisions of the Code of Conduct Rules. Counsel to the APC, Hakeem Afolabi (SAN) adopted and relied on all briefs filed on behalf of the appellants in the proceedings and urged the court to allow the appeal and grant all the reliefs sought.

Afolabi drew the attention of the court to the striking out of paragraphs 110-120 and 125a of the petition by the Election Petition Tribunal which bordered on the qualification of Fayose. He argued that the reason given by the tribunal could not be accommodated under Section 138 (a) of the Electoral Act. He averred that there was no time limit to raise an issue bordering on qualification of a candidate. Afolabi further contended that the decision of the tribunal was taken suo moto and that the right to fair hearing of the appellants was breached. “I urge your lordships to allow the appeal and grant the reliefs in our petition,” he submitted. Counsel to the PDP, Robert Emukpoeruo, while opposing Afolabi’s submission, argued that not only did the tribunal struck out the paragraphs in contention, it also considered the merit of the complaints of the appellants. Counsel to Fayose, Yusuf Ali (SAN), urged the court to dismiss the appeal. On the alleged impeachment of Fayose, Ali argued that the constitution of the panel that recommended Fayose’s impeachment violated constitutional provisions in that it was not set up by either a Chief Judge or an Acting Chief Judge citing Nwakama v Abaribe 2010 All Federation Weekly Law Report pt 505 1767 at 1789-1790 para f-e. He also told the panel that the petitioner, which lost in all the 16 local government areas of the state, only called 11 witnesses, six of which came from Ado Local Government alone and did not call witnesses from other 10 LGAs. Ali urged the court to dismiss the appeal for lack of merit. INEC counsel, Wilcox Abereton; the counsel to the Chief of Army Staff, Abayomi Sadiku and the counsel to the Inspector General of Police, Chief Olusola Oke, in adopting their briefs of argument, urged the court to dismiss the appeal filed by the APC. CONTINUED ON PAGE 42

I’m not a perfect being, says gov racy and also for living to the expectation of the Chief Justice of Nigeria, Hon. Justice Mahmud Mohammed, who had assured that under his leadership, the judiciary would not subscribe to any plot to change the outcome of elections through the instrumentality of the court. I think the necessary lessons must have been learnt and it is obvious that Nigeria is evolving democratically. To my opponents, I plead with you to sheath your sword and join me in the development of Ekiti State. If truly our struggle is about service to our dear state, it is time to come together and channel all our resources towards the development of the state. I am irrevocably committed to the protection of all, including the opposition in the state.

To my opponents, I plead with you to sheath your sword and join me in the development of Ekiti State... it is time to come together

Nobody is infallible, and I am not a perfect being. The only one that is perfect is God, but He, in His infinite mercies has made me the Governor of Ekiti State today. I have a term and tenure; there will be another opportunity for Ekiti people to decide who governs them. Rather than trouble the peace of the state, our friends in the opposition parties should accept the will of God concerning our dear state and wait till 2018. I thank all stakeholders and I am assuring them that I will leave Ekiti State better than I met it. My special appreciation also goes to the security agencies for being alive to their responsibilities. May the Almighty God continue to bless Ekiti State.

Politics 17

NEW TELEGRAPH WEDNESDAY, April 15, 2015

Lagos State Governorelect, Mr. Akinwunmi Ambode, in this acceptance speech promises a better deal for Lagosians

Ambode: Lagos on path of continuity, progress

ellow Lagosians, on April 11, the election day, history beckoned. Courage stood tall. Fairness and justice raised their heads. Democracy blew its trumpet. You, the people, the electorate, answered its call by marching to a victory only you could achieve. You contested against an old and ancient device, the use of money and power to manipulate the result and thwart democracy. In the end, the sovereign will of the people proved worthier than money and mightier than brute force. Your collective voice remained the voice of Lagos. Now, the official announcement from the Independent National Electoral Commission (INEC) has come. Democracy has triumphed once again. INEC has declared me the 14th governor-elect of our beloved Lagos. I know that it is only God that crowns kings. To Him be all the Glory. I may have won your vote but it is you, the people, who won the election. The true winners are the people of Lagos State. I accept this victory on your behalf. Let me congratulate INEC for a job well done and keeping alive Nigeria’s hope for a brighter democracy. To my main opponent, Mr. Jimi Agbaje of the Peoples Democratic Party (PDP), I thank you for a keen contest and invite you, alongside other gubernatorial candidates, to join hands with me in moving Lagos forward. The people of Lagos have spoken. With one voice they have chosen continuity over an uncertain future. You came out peacefully to cast your vote. Not even the threats of our opponents to unleash mayhem could have kept you from having a date with destiny. And because you have answered our call to come out and vote and handed your party, APC victory at the polls you have sealed a pact with democracy and good governance. I am humbled that you have placed your trust and faith in me. The love of this state and our common belief in what we can accomplish, our belief in what this state already is, and in what it is destined to become binds us together in a social and moral contract of high purpose. I shall honour that contract with every fibre of my being. This day I pledge to you that I shall devote myself to bringing even greater prosperity, growth and development to every inch of this state, that I shall build on the legacy and progress of the Bola Tinubu and Babatunde Fashola administrations, I shall bring the best of Lagos into my government and I shall make you proud and glad that you chose me as your next governor. I thank all those who voted for me. And even those who did not vote for me or never voted at all. To the electorate, I salute and applaud all of you for making this

Ambode

a fine day in the march towards Nigeria’s democracy. The people of Lagos have demonstrated that Lagos is not about ethnicity or religion but about a common desire to enthrone good governance. Lagos under my watch will not discriminate. It has not in the past. And will not in the present. Not even in the future. There will be no political victimization. Like in the words of the former American President, Abraham Lincoln during his second Inaugural address, “With Malice toward none, with Charity for all…” In your collective wisdom, you refused to reward a party that failed at the national level by giving that party the stewardship of our beloved Lagos. Continuity of progress shall govern this state in the next four years under the banner of the APC. History has been made this day because you have achieved an outstanding feat. By affirming your faith in the APC and in me, you have, for the first time in 60 years, married progressive governance at the national level with progressive government at the state level. Finally, our state government and the Federal Government will be of one vision, one mind and one accord and that is to govern you wisely not rule over you rudely. The ramifications of this harmonious unity are completely positive. This is a chance that we have worked toward for many years. The joint infrastructural and employment projects and collaboration between the state and the federal will quicken the improvement of our roads, schools, power generation and the entire array of social services. This

Lagos under my watch will not discriminate. It has not in the past. And will not in the present. Not even in the future

new era of cooperation between the state and Federal Government promises to be a golden period for Lagos and for all Lagosians to share equally therein. Lagos will enjoy optimal development and growth through APC governance working in tandem at the state and federal levels. This cooperation and enhanced policy harmony will surely pay handsome dividends. Let me again place on record my thanks, particularly to the Lagos State chapter of the APC, everyone from the state chairman to the volunteers have been wonderful and committed. My campaign team, who worked tirelessly with me to actualise this dream, I thank you all. I thank President-elect, General Muhammadu Buhari for lending his stature and charisma to our effort. I look forward to working with his incoming government to effectuate the APC vision and bring greater progress to the entire nation. There are two men I must single out. Governor Babatunde Fashola; you have been excellent at the job. You have taught me a lot. Moreover, you have been a tireless, selfless and inspiring campaigner for this cause. Asiwaju Bola Tinubu; you are the greatest political mind of our generation. Without your vision, and dedication to a higher political purpose none of this would have been possible. This day vindicates all that you have done. You are a foremost hero of Nigerian democracy and you still have more to do. I thank my running mate, Dr. Idiat Oluranti Adebule, for her steadfast and strong support. She will surely be an excellent Deputy Governor.

I thank my wife and children for the sacrifices they have made over the past two years to support me on this journey. I look forward to the same support. There is no way I can name everyone at this time that should be named. So please forgive me, knowing that I appreciate your contribution and sacrifice made to turn a distant dream into this imminent reality. We ran a campaign devoid of hatred and concentrated on key issues affecting our people. We are proud of this achievement and encourage other politicians to embrace this paradigm shift. I have been declared the victor in this election but this is no time for gloating or boasting. I am now to be the servant of this state in its entirety, not just for APC members but for all Lagosians no matter their political stripes, ethnicity or religious affiliations. Today, we celebrate democracy and its triumph. Tomorrow, we get to work to fashion an incoming administration that, with the best management team Lagos has to offer, will carry forward the legacy of the progressive administrations that preceded it. You have voted for me. Now, I shall work for you and your cause. That cause is to extend and expand the process of development and growth in this state. The task ahead is not an easy one. Nor is it impossible. With wisdom, creativity and strength of purpose we can accomplish great things for this great state. By God’s grace, we shall make this our way. The only sure way to achieve change.

MORE STORIES ON pageS 40-43

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Opinion Ndigbo and National Assembly leadership Fred Nwaozor

ne of my childhood friends, as well as my university mate, Chuka Esonini residing in Holland, called penultimate week to congratulate me personally as a staunch member of the civil society, for the recent peaceful and successful political history recorded in the Nigerian polity. ‘Chukas’ as he’s fondly called is a vibrant young man who strongly believes in appreciation; those days on campus, precisely Federal University of Technology Owerri (FUTO), both of us were into school activism. He thought it wise to congratulate/ salute my humble self because he was of the view that I and many others who are into this crusade contributed immensely towards the sensitization of the electorate and the citizenry at large on the need to accept the results of the said polls in good faith or with a spirit of sportsmanship. In response to the aforementioned commendation registered by my old time buddy and fellow technologist, I told him unequivocally that the peaceful outcome of the Presidential polls was owing to God’s timely intervention, and not by the making of any individual or statesman as being presumed or circulated in some quarters. At the long run, after exchange of series of ideas and experiences, he saw reason with my perspective thereby at a juncture he willingly concurred with my person. Thank God the long awaited Presidential cum National Assembly elections have successfully come and gone. Presently, Nigeria in her entirety is looking forward to witnessing a totally different political transition and dispensation since birth. No doubt, Friday May 29, 2015 shall usher us into a dawn of a completely new era as far as democracy is concerned. As millions are presently filled with anxiety coupled with high level of curiosity in regard to the forthcoming democratic dispensation, on the contrary several others are preoccupied with challenging political talks as well as tussle. In view of the latter, the incoming legislators of both the upper and lower Chambers of the National Assembly are not left out. Of course, it is only a dummy that is yet to acknowledge the fact that as soon as Gen. Mohammadu Buhari is being sworn in or assumes duty, what next would be the leadership of the National Assembly, as stipulated or

mandated by the Nigerian constitution. Please pardon me; I prefer to go by “Chief” rather than “General” in order to free the entire Nigerians from biased mindset. On this note, I humbly suggest to the President-Elect to urge the media and Nigerians in general to stop addressing him as a “General” since he is now a full-fledged ‘converted’ democrat. Sorry for the digression anyway. Let’s ride on! After May 29, Nigerians would be discussing the legislators that will lead the Senate as well as the Federal House of Representatives as the Senate President and the Speaker respectively. As it stands, the Igbos or the members of the South-East geopolitical zone are of the view that the leadership of the apex legislature is their prerogative. Let’s briefly go back to history. During the Chief Olusegun Obasanjo’s administration which commenced in 1999, the South-West having occupied the President position, which is the “number one” position in the country, and the North being in the position of Vice-President, a South-Eastern legislator in the person of Late Senator Evan Enwerem was unanimously elected by the members of the Senate as the Senate President in order to balance the equation. Subsequently, the Late Alhaji Umaru Musa Yar’dua became the President of the Federal Republic in 2007, and the South-South had their share in the position of the Vice-Presidency thereby making the North-Central to stand in as the Senate President in the person of Senator David Mark. And finally as fate would have it, in 2011 the SouthSouth in the person of Dr Goodluck Jonathan emerged as the President and he is currently deputized by a Northerner. At the commencement of the ongoing dispensation ably led by Dr Jonathan, the position of the Senate Presidency, by virtue, was due for either the South-West or South-East, but unfortunately as a result of some political mechanisms, the North still occupied the said position leaving the South-West empty-handed and compensating the South-East with the position of the deputy leadership of the Senate. Due to the anomaly, the leaders of the South-Western region cried foul, stating that they were treated unfairly; a scenario that almost constituted a chaos. Let’s not delve into the detail of what prompted the foul play. Though afterwards, the South-West was compensated by being granted the privilege to serve in other positions of high hierarchy; meanwhile, we’re all aware that it won’t function exactly like Panadol if it is an adulterated one.

Going by the current look of things, it is obvious that by equity sake, it is the prerogative of the Igbo to occupy the position of the Senate President as regards the incoming transition. But pathetically, there is a major political loophole that might make the South-East to lose the said leadership bid. Considering the just concluded National Assembly election, it occurred that virtually all the positions of the National Assembly in the South-East were won by the opposition, the Peoples’ Democratic Party (PDP). Few of the contestants who emerged victorious under the aegis of the All Progressives Congress (APC) are not legitimately qualified to lead any of the Chambers of the National Assembly; courtesy demands that any law maker to be elected as either the Senate President or the Speaker must had served for at least a term in the Senate or the House of Reps as the case may be. And by political tradition, it is far-fetched for a member of any opposition party to be at the helm of affairs in the National Assembly. Therefore, having APC in the position of the Presidency, courtesy demands that, in order to sustain a stable political system, APC ought to lead both the upper and lower Chambers of the legislative arm. However, to ensure that Ndigbo wouldn’t forfeit the anticipated position, there is only one way out and must be considered imperatively and seriously. The totality of the leadership of the All Progressives Congress (APC) in the South-East is expected, as a matter of urgency, to look beyond their respective individual interests and adopt someone or better still a trusted and eligible person among the incoming legislators in the opposition party - the PDP. For this vision to be actualized, the persons involved must place the interest of Ndigbo at large ahead of their personal interest. To this end, the political leaders in South-East under the auspices of Ohaneze Ndigbo should rally round and discuss collectively as one united and indisputable family with the sole aim of adopting a worthy son of Igbo extraction that will represent the zone irrespective of his political affiliation. Suffice to say; this critical and sensitive circumstance can only be unraveled by embracing consensus. In other words, Ndigbo as a family ought to reach a consensus now or never. They shouldn’t allow mere sentiments to becloud their sense of logic. •Nwaozor ( frednwaozor@gmail.com) is Public Affairs Analyst & Civil Rights Activist

The price of change Timothy Akinleye

hange is a good tonic of life, but it takes courage to brew. The Creator of the universe believes in a positive change so, there is no reason why man should not. Everything else changes but change and its constancy remains. Minor changes may use little time but enduring change takes a huge overdose of time. For those who had the courage to ask and vote for change, I salute your courage. Change afforded Nigerians a grand opportunity to set aside an uninspiring status quo: nosediving economy, impunity, lawlessness, joblessness, insecurity hence, they voted for change. Now that change is here, all hands must be on deck to make it serve its purpose for the benefit of all. In the words of C. JoyBell C., “We can’t be afraid of change. You may feel very secure in the pond that you are in, but if you never venture out of it, you will never know that there is such a thing as an ocean, a sea. Holding onto something that is good for you now, may be the very reason why you don’t have something better.”

Change is an essential ingredient of life. Man transits from birth to adulthood. Seedlings die to transform into productive plants with capacity to yield fruits. The owner of the universe sent his servants and Son that we may change from sin to righteousness and from death unto life. So, to both living and non living beings, great and small, long and short, change happens to them all. Nigeria has just passed through an unprecedented change. A ruling party has just lost an election to an opposition party and an incumbent is exiting Aso Villa for a resilient general turned democrat to move in after the third shot at the number one job in the land. According to Will Ross, of British Broadcasting Corporation (BBC), the General’s election honeymoon is indeed very short. Now that the campaign frenzy has died down, the presidential election is lost and won, the President-elect must get to work. Nigerians desire a change and change has come to Nigeria. Change at the economic front; change must be visited on the power sector; change must command respect of the Agric sector and security of lives and properties must feel the superior power of change.

These tasks are of course daunting, but they are tasks that must be done. There is no better way to say thank you to teeming Nigerians for their generous supports and trust in APC and the General. General Muhammadu Buhari must extend hands of friendship to those regions where the voting pattern shows he is not admired. He must see himself as the president of the Nigerian people and every region must feel the positive impact of his inclusive government of change. This is a golden opportunity for Buhari to redeem his image and present to all Nigerians a changed, and genuinely transformed man with courage and resolve to do what is good. President Goodluck Jonathan has demonstrated uncommon statesmanship by dousing the tension that was perching on our rooftops waiting for the right opportunity to pounce on us by congratulating Gen. Buhari even before the formal announcement by INEC Chairman, Prof. Attahiru Jega. Indeed things are changing for the better in Nigeria. Gen. Buhari should go back to the election jiggles and clips to refresh his memory on those promises made to Nigerians. He cannot afford not to deliver

on those promises. Crucial to this is the need to assemble a strong economic team comprising the best patriotic eggheads this country can afford. It’s only a bad leader who is afraid of recruiting those who are more knowledgeable than himself so they may not outshine him. The time has come for our leaders to roll up their sleeves and get to work. They should take a cue from President Barack Obama who is always fond of saying we must do the job Americans have sent them to Washington to do. Let those we have voted for do the job Nigerians have sent them to power to do. It is after this Nigerians can say indeed, a positive change has come. Nigerians have literally fe Buhari, let him fe Nigerians in return. He has to embark on people-oriented projects and also execute policies that will launch Nigeria onto world stage as a respected power-broker in Africa and in the comity of nations. Nigeria has all it takes to be a prosperous nation. With him, and with God’s help GMB, he can actually put this country on the path to transforming from a third world to a first world. Long live the Federal Republic of Nigeria. • Akinleye is part of the New Telegraph Team.

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

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Orekoya kids must be rescued alive

n the last couple of days, Mr Leke Orekoya and his wife, Adebisi, have been subjected to unimaginable trauma and psychological torture. Three of their children were abducted by a housemaid identified as Mary Akinloye who they employed through an online sales and advertising portal, OLX. The housemaid, ostensibly working for a kidnap syndicate, struck a day after she started working for the family. She stole three of the couple’s four children - Aderomola, 11 months old, Adedamola 4, and Ademola 6. “We have never known what it means to miss a child until now. What kind of a heartless person will do this to a family? “Please help us; our hearts are broken. We have cried and cried so much we don’t know what to do anymore.” The distraught parents were quoted as saying on the day the housemaid disappeared with the kids. The couple, said to be bankers in Lagos said they urgently needed a housemaid and were unable to investigate the lady when she showed up for employment. Adebisi, the children’s mother, said that they had to seek a maid through OLX after their

The housemaid, ostensibly working for a kidnap syndicate, struck a day after she started working for the family permanent maid went on annual leave and didn’t come back. She said: “We urgently needed someone to assist because we were going to resume work on Monday. We were disturbed and that was why I posted the information on OLX. “The maid called us and said she was interested. I agreed to employ her in the interim because I really did not like the fact that she was young. She agreed to collect between N10,000 and N15,000 even though our former nanny collected N25,000. “I left her at home this morning (April 9) around 7.30am. It was around 1pm that my eldest son called me and said she had taken his siblings away. He said she told him they were going out to buy some things. She strapped the 11 months on her back and held the others by the hand. She has since not

returned.” Thereafter, the kidnappers contacted the parents to demand a ransom of N15 million. But after negotiations, the abductors agreed to collect N13 million. However, the family has not been able to raise the N13 million and pleaded with the kidnappers to scale down their demand. This, however, infuriated the abductors, who have threatened to kill the innocent kids. “The situation has not really changed because we have not seen our children. As at now, the kidnappers have stopped us from speaking on the phone with our children. They are threatening to deal with our kids and family if we continue to beg them to beat down the ransom,” Mr Orekoya said at the weekend. Determined not to lose their children, the couple have opened a bank account in the name of Adedamola Orekoya. They also appealed to Nigerians to contribute money to them to be able to secure the release of their children. Though the Lagos state Police Public relations Officer, Mr Kenneth Nwosu, said the police were on top of the situation, saving the Orekoya kids should go beyond the normal police rhetoric and grandstanding.

The police in neighbouring states of Ogun, Oyo, Osun and Ondo as well as other security agencies should be involved in the search and rescue of the children. No effort should be spared in rescuing the kids alive to be reunited with their family. After all, it is the responsibility of the government to protect the life of every Nigerian, the Orekoyas and similar people in similar situations must not be an exception. At the same time, this ordeal calls to question the relevance online agencies in the recruitment of domestic helps. If at all such bodies should be allowed to operate, there must be thorough security checks to stem such ugly development. Outside the need to locate the children and rescue them alive, there is also the need to apprehend the perpetrators of the abduction. The Department of State Security (DSS) and the State AntiRobbery Squad (SARS) need to be involved in the search and rescue effort to get back the Orekoya kids and bring the abductors to book. This is necessary to give the citizenry the assurance of their safety. This should not be too much to ask for from the government and the security agencies.

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WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Arts

Book Review

Winning spiritual battles

Title: Author: Publisher: Number of page: Year of publication:

Looking Unto Jesus Christ Okechukwu Joemario Barnabas Mater Dei Foundation, Lagos 171 2013

Reviewer: Nwagbo Obi

otwithstanding how daunting the challenges of life faced by mankind appear the 171-page book “Looking Unto Jesus Christ” written by Okechukwu Joemario Barnabas has provided the solution to such threats. The author has used comprehensive scriptural research to authoritatively disclose that the key to such overwhelming confrontation faced by people is the word of God in the same scripture he researched from. “The word of God which is also the law and commandment is among the four foundations of a victorious life. It is a key and a weapon to win secret battles and maintain a healthy relationship with God. The word of God is alive. It is the spirit and spirits do not die” (p.1). This is authenticated by Jesus Christ in John 5:39 when he said “Search the scriptures; for in them ye think ye have eternal life; and they are they which testify of me”. Discussing this in eleven chapters of the book, chapter one, “The word works wonder”, takes off by introducing the reader to so many biblical evidences of the marvelous nature of the word of God. This Chapter draws attention to what Jesus said in John 6: 63 that “… the words that I speak unto you, they are spirit, and they are life.” This means that the word of God like spirits do not die as it continues to be alive for all ages. Also John 1:1 confirms that this word of God was in the beginning as it was with God and the word itself was God. In effect the word of God is for all seasons

TONY OKUYEME tony.okuyeme@newtelegraphonline.com

and hours of existence from of old, now and eternity. The author observed that the world is in a generation where people have created their God and pattern of Christianity. These are those he described as “many Christians today who want an Easter without Good Friday. Some have also grown to desire the crown without a cross”(p.2). However, he opined that to desist from this, scriptures should be used to interpret scriptures with a proper and in-depth analysis of the original motive. Other biblical portions that explain the efficacy of the word are mentioned with prayer points. Chapter two, “the powerful name of Jesus Christ of Nazareth and Others”, underscores the power in the holy name of Jesus Christ as beyond human comprehension. The author owns up that even his research cannot capture the power in this name. However, this chapter emphasized striking issues about Jesus Christ including, Jesus as the savior of mankind, begotten son of God, all things were made through him, his name is fruitful and anointed, very active and should be applied at all times, the name is a weapon for all seasons, he is the way out of every captivity, he saves people from their sins, his name is exalted and faithful than the names of angels, archangels, saints, and other creature living or dead. The chapter mentions some names in the Bible that people are proud of like Abraham whom God blessed, he is a friend of God and faithful to God, he is obedient to God, and God called him, father of multitudes or nations. Others are Jacob, Peter, Daniel, Paul. These names no matter how great they are, the name of Jesus has the greatest power of attorney. It is the most powerful name, above all other name. In John 14: 6 Jesus himself said “I am the way, the truth, and the life, no man cometh unto the father but by me”. In Chapter three, “the body and blood”, the book demonstrates, were offered to mankind so that man does not live a wasted life. The author observes that the unbelieving Jews scrambled for his clothe while Jesus

handed over those who believed his body and blood. This informs why unbelievers today continue to go after fashion and other material things of this world at the detriment of their souls. The believers go after true riches that lead to eternity. The unbelievers are reminded that in Hebrew 12: 24, it is written that “the blood of Jesus speaks better things than the blood of Abel” so the blood of Jesus is a spiritual food that gives strength for the spiritual journey of life. This chapter dwells more on the mystery of the body and blood of Jesus, in addition to stressing on the Mass as liturgical assembly of the Catholic faithful universally. It is where they celebrate as one big family the mystery of the word and true body and blood of Jesus Christ. What the liturgy of the word means in the Mass is put in plain words by the author in this chapter. Chapter four brings to light how to dethrone the giant, familiar spirits and other household of wickedness, while chapter five gives the account of Jesus Christ and the Canaanite woman as recorded in Matthew 15: 21-28 with other related situation on great faith. Chapter six discusses the mystery of tithe, offering, seed sowing and common faith,

using the life of Abraham to expatiate that: “God knows how to turn your troubles to trophies, move you from struggles to success, from story to glory, zero to hero, oppositions to opportunities, and repeat what he did in the life of Abraham only when you know how to tie your petition with sacrifice.” With this and other instances of those that lived exemplary life in the Bible, chapter six gives a leeway of how to make wealth with power through a means that is not questionable. Chapter seven is about deliverance process and its purpose, while chapter eight deals with altars, in which the book highlights the condition under which negative altars and influence of the enemies can be dethroned and the conditions your enemies can bow. Chapter nine examines dreams, stating that dreams have three connotations; they can talk about your past, present and future. Dreams can come from God, the self and the enemies. With this explanation and some biblical evidences, this chapter lists some dream situations, which people can monitor and the prayers to say against dreams. In chapter ten, the author focuses on curses and solutions dealing with curses. Chapter eleven, “patterns of prayer” captures what is prayer, types of prayer; the contemplative and vocal prayers. While contemplative is said silently, meditatively, vocal is all manner of prayers; supplication, intercessory, decree, thanksgiving and prophetic that are made audibly, consciously or unconsciously. This chapter also explains what confessional prayer is as well as prayers of thanksgiving, faith, intercession and praying in spirit and in tongues, prayer of agreement and prayer of aggressive bombardment. It is important to point out a few mistakes in the publication especially in the area of spelling, like massage (p. 24). This should be message. Savior (p. 25). This should be saviour since the author adopts Queens English and not American English. Chapter 11, pattern of prayer as contained in page 156 of the book is not entered in the content page in page ix. Also, a beautiful research of this nature should indicate the sources at the end, as bibliography or works cited or references, depending on the research methodology adopted. Nevertheless, the book is a strong Christian literature that enriches the knowledge of the reader on how to confront unforeseen forces and solve problems. It is worth possessing.

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

Living at the mercy of irregular power supply

Barbers at work

LIFE IN THE CITY Living with bad odour in Lagos

MY CITY MY WORLD I will serve you allsays Governor-elect

OLUWATOSIN OMONIYI CO-ORDINATOR

tosin.omoniyi@newtelegraphonline.com

The intractable poor power (electricity) supply in the country is, by no means, a source of worry and the concerted effort of the stakeholders in the bid to finding a lasting solution is of paramount need. Ostensibly, Lagos is most affected as the economic hub of the country. This is even so as the microeconomic sector of the state has been kept in the doldrums. Thus, the hope of making the microeconomic sector the driving engine of the state’s and national economic growth, seems will protractedly be deterred. A random interaction with the artisans was conducted across a few areas in the state. ELIJAH SAMUEL presents the findings.

hey have longings; they have aspirations and cravings for good living and dependable economic prospect. They are the army of artisans whose choices in various chosen fields of vocation offer so much confidence for subsistence and hope. Incidentally, they are mostly involved in vocations that are electricitydriven. Now, except an urgent rescue is deployed to the ailing power sector in the state, their aspirations are in danger of possible extinction. Olusegun Adaranijo, a master welder who is the chief executive of a steel-works company

The epileptic power supply has sent many businesses packing

in Mushin, disclosed that the erratic electricity supply has in no small measure dwindled the fortunes of his vocation. He added that in the face of unreliable power supply in Nigeria, business operators are only taking undue risks in the wilderness. “It’s has really been difficult to do any work and be successful, especially for those of us that have to deal with electricity. The present epileptic nature of power supply has sent many businesses packing. A few of us that are still in operation are only swimming against unfavourable

tide. I have been in this vocation for over 30 years; I know what it used to be. It had never been this bad. When you compare how much we put in to produce our products and the cost price of each unit, you discover that the profit margin is insignificant. So, if not that one has no alternative vocation, it would have been better to pack it up,” Adaranijo bemoaned. For a solution to the power dilemma, he posited that the government, especially the incoming administration CONTINUED ON PAGE 22

Life | Mega City

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Artisans lament effects of blackout

A capentary workshop in Lagos CONTINUED FROM PAG E 21

should try to review the privatization process that saw the unbundling of the Power Holding Corporation of Nigeria (PHCN). This should be done with a view to determining the qualification and capability of the investor companies. He advised that the anomalies should be detected and the necessary steps taken to put things right so that if the right people are given the management of the successor power companies, things will begin to look up on the whole country. Miracle Umoh, a manager in a frozen foods establishment in Ijeshatedo- Surulere told of their perplexity in business as a result of epileptic power supply. “The light situation is worse. For about two days now, we have not seen the supply at all. When they bring the light however, it is hardly of any benefit before it is taken. Because of this, we have to run on generators to power our refrigerators because we deal in frozen foods. So, you can imagine that instead of making profit, we are incurring losses. The losses we incur hovers between 10 – 20 per cent of our sales in a month. We are only hanging on so that it doesn’t look as if we started a business that we cannot sustain. That’s just why we are still in business,” he said. He prays the incoming administration to take power as one problem which has to be demystified and all other things will fall in their right places. Without electric power, the economy, he noted, cannot

move forward. If the incoming government can just hold onto power as one programme to be tackled, it will go a long way in the transformation that we all clamour for and Nigerians will be grateful. The government does not even need to start creating jobs because Nigerians are very talented, “we’ll create jobs by ourselves.” A tailor, John Ameke, was also not pleased with the epileptic power supply. He disclosed: “I have never enjoyed power at any given time because when I go to my shop in the morning, I will buy fuel and kerosene which I will pour into the generator and the stove respectively, for work. From that morning till evening, I will run on these devices to generate power which I need to work with. So, the public electricity being generated has never added any iota of value to my business. Although some will say that in some parts of the state, they enjoy relative regular power supply, it is nothing to write home about in Surulere. If they bring it at all, it doesn’t last more than one or two hours as it may be.” Productive hours are being lost because, according to Ameke, what would have been done in few hours, end up in several hours. “What I will do in one hour if there is light ends up in about four or five hours when there is no light. With this, it has great negative impact on my business output. “But I pray that, unlike the present government which has at various times sold lies to Nigerians about the improve-

What Lagos is getting now is ridiculously far from what is needed

ment in the power generation, the new government should endeavour to make remarkable impact in this sector so that the travails of this country can be significantly ameliorated. Otherwise, we are doomed.” Tope Aniyikaye, a cobbler around Idi-Oro, Mushin, shared his experience of the epileptic power supply as “it is so difficult to make production of our goods because of unstable power supply. There is no way one can meet up with customers’ demand if one doesn’t find alternative source to generate power. There is no day that we don’t buy petrol to fill the generator that we use. By the grace of God, there are pockets of regular demand and supply that we do; but the cost of production is too high and it affect our turnover.” Yet, Anthony Ireka’s tales is not in any way different as it only added to the list of artisans’ disappointment and worries. His barbing shop is strategically located in LadipoOshodi, and this has placed him for a prospective pecuniary gain but the cost of running this business which is being run on generator is cutting short his gain. “Honestly, it is good doing this vocation but the cost of running this business is enormous when you compare what I put in to run generator everyday so that there can be power regularly. The cost is much and this has reduced my gain, but we pray that the new government that is coming will be able to proffer a lasting solution to this power problem.” Several other artisans in the

state share almost the same tales of disappointment, losses and expectations for a quick intervention and transformation. However, a senior staff in one of the two power distribution companies in the state who preferred anonymity, gave an insight into why stable power supply will helplessly continue to elude the end users who are already disenchanted. “We are not there yet, as far power supply is concerned in Lagos State. Power is the utility service that we require to drive all of our socio-economic activities in the state, and what is required is not less than 5,000 megawatts even though the total megawatts available in the entire country is less than 4,000 megawatts as it stands now. What Lagos is getting now is ridiculously far from what is needed, and that’s why the situation is what it is Lagos.” He added: “The reason why the privatization was done in the first place was for investment to be made in the unbundled power companies. But the truth is that the investors are not investing money; they are too much in a hurry to recoup what they have invested into taking over those companies. But it is not like that especially in power sector that have suffered in terms of infrastructural degradation over the years. I can tell you that the investors are not investing; they only want to recoup.” Lagos State’s effort & promise in the past At the seventh Lagos Economic Summit tagged EhingCONTINUED ON PAGE 25

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

Fashola’s era in the eyes of Lagosians Governor Babatunde Raji Fashola has been at the helm of managing a state as densely populated as Lagos for eight years now. His tenure will come to an end on the 29th of May, 2015. Although, a multi tribal state, what the governor has done is a testament to the fact that good governance is not rocket science. As much as he is believed to have fairly balanced the governance of the state, most Lagosians believe that his style of governance is favourably more disposed to the elite than to the grassroots. Segun Giwa reflects the views of few Lagosians. Education overnor Fashola based his administration with promise to leave the Lagos educational system on a better pedestal. James Kayode, a teacher said though, there was prompt payment of teachers’ salaries and other entitlements, there was also some high level of discipline. However, free education policy was not effected in tertiary institutions in Lagos State. The school system was disrupted in 2010 because the state government could not uphold her agreement to pay 27.5 per cent of basic salary to teachers in the state. The money was regarded as professional entitlement, therefore, the state’s chapter of the Nigeria Union of Teachers, with support of the national union embarked on a warning strike that lasted for two weeks” On the tertiary institutions level, Mr. Aina said “the state government increased school fees from N25,000 to N250, 000. This action sparked off unrest in the tertiary institution in Lagos, such as in Lagos State University and its allies, as well as polytechnics in the state. There were industrial actions at various times which resulted in disruption of academic work of students. These actions were seen as war against educational system in the state and also a means of handicapping indigent students from schooling or at least having university education. Many students could not seek for admission due to the high cost. It portrayed the state government as making the institution a school for the elite or children of the super rich considering the economic factor. Most intending students resorted to menial jobs and the likes”. The state educational policy in the state has its credit and also unsavoury issues.

Judiciary The administration has really failed to follow due process on the aspect of judiciary with laws passed in the state. Barrister Olusegun Isaac expatiates on the aspect of law making in the state. “The government of Fashola has been more unjust than just. He has passed by the rule of law more often than not. A case study is the issue of the ban on motorcycle popularly called Okada riders. Our dear governor never allowed any law to be passed on the right of the Okada riders. The governor of Lagos State used his veto power and banned the motorcycle riders

A cluster of okada-riders

without thinking of the dire consequences of his action. Another disobedience to rule of law by Fashola is the Lekki toll gate fee. The power to legislate on such matter is vested on the state House of Assembly by the virtue of section 4(6) of the 1999 constitution. The governor never presented any bill to the state house of assembly but rather brought in the investor into Lekki without the consent of the people nor the members of the state house of assembly. According to A.V Dicey, rule of law is supreme over everybody. The last time I checked, the governor is not an exception to the rule of law. The security power of Lagos State is not absolutely vested on any governor. On the platform, the governor of Lagos state has not done so much. For more reference see section 4(3) and the part 1 schedule 2 of the constitution. The economy on the other had by 10 per cent improved. More investors have been in Lagos. The reason for this little improvement is not for the good administration but because Lagos has been a mega city even before he took over office. Every investors comes to Lagos not because of her government but because the market is already in Lagos. The health sector under the Fashola government has been a pendulum of uncertainty. The health sector has been on strike several times”. Markets The newly built Tejuosho Shopping Complex has two phases, which also provides space for traders selling raw materials. After the renovation of the

fied colour to differentiate them from the local ones.

Ranti Lagunju

Olusegun Isaac

market which was opened on August last year, it still baffles some petty traders on the amount the shops are rented. Mr. Oladipupo Kazeem, who sells clippers for hair, said “the market is better now compared to the burnt one and the government assured us that, those that were affected then will get their shops back, if they are still interested” Mrs. Konyegwachie Ibironke laments on the rate at which the shops are leased to the traders. “How much goods are we selling that we’ll rent a shop of half a million? They never put us into consideration.”

mental day on Saturday. The reason for not patronising the street is because of the dues the councils, thugs, police collect every day. They collect as much as N800 or N1000. And also the stickers of councils is also a problem of patronising the street that embarrass the motorcyclist often which even leads to fights.’’ Though this was to curtail the high rate of accident that occur frequently on the express road, the result of the law has reduced the rate of accidents on the express road. “The operation ‘put on your helmet’ was not really successful due to slow speed and also its hinders their hearing if they are communicating with their fellow cyclists.” The government successfully stopped commercial motorcycles from the express but they failed to give orientation for the cyclists and address the situation of police, thugs and councils that collect tariffs which is too much and also give each motorcycling parks five license to move on the express road with a speci-

Transportation Mr Olalekan Yusuf, a motorcyclist, expressed the view on the issue of banning motorcycles from the express road ‘’The stoppage of motorcycle from the express road is okay. Although I was also a victim of the law and also my motorcycle was seized in Apapa( area P station) on 18th of December 2012 after environ-

VULCANISER Mr. Lasisi Moshood, works as a vulcaniser on Ikorodu road. He laments how they are always being disturbed by ‘kick Against Indiscipline’ popularly known as KAI. “KAI don’t want our machines beside the road. If the machine is not there, how will the customers know I’m around and get a new customer. They carry our machines for no reason and they demand for money to get it back. Sometimes, what they asks is too much. “Majority of my friends in this business also complain about the same issue but they seem to rest now because of the elections”. HEALTH Mrs. Lagunju Oluranti Grace, Nursing department, Mainland Hospital Yaba. “ Fashola’s government in my own opinion has really tried in the health sector. In Lagos State, there is free health for ages 0- 12yrs, also 60yrs and above. Provision of rapid response ambulances at strategic places all over Lagos State is also important. Employment of health workers across board and upgrading standard of our health institutions etc. The strikes was a national directive, of which Lagos State cannot separate herself. Even while the strike was going on, Lagos State hospitals were functioning. At least, emergency cases were been attended to and there was a working understanding between the government and all health workers.”

Life | Mega City

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

The gutter on Teco road, Alausa

Living with bad odour in Lagos It is part of our lives to live with different odours. But when the odour becomes a permanent stench in the environment, alarm bells ring loud and red flags are raised. That is the lot of some residents in the mega city who now are accustomed to some permanent stench oozing out of industrial and commercial areas as reported by RUTH OKOCHA

ollution is one of the greatest challenges affecting and endangering human lives. Aside its many hazardous effects on the wellbeing of human being, it is also dangerous for the society at large, which is why it is encouraged to keep environments clean, with such activities as clearing the gutters, avoiding inhalation of fumes which are not good for human consumption and keeping everywhere neat. Pollution comes in many forms, such as vehicle and generator fume-air pollution and environmental pollution in form of awful smell of an environment or cascade of smoke arising from industrial generators within residential area. Such is the fate of most areas in Lagos, especially with epileptic power supply; hence, massive cascade of smoke from different types of generators. And on the streets, smokes from various vehicles, tricycles and motor bikes coupled with

road side food sellers. Generally, Lagos State environment is massively polluted. In fact, some key areas in Lagos still lack adequate maintenance which is alarming considering the extent of ongoing development in the mega city. There are various ministries established to monitor the environment and several measures taken in order to keep Lagos clean and free from diseases. For instance, there is this horrible and almost consuming stench oozing out of a canal by a shallow gutter at Teco Avenue, off Nurudeen Olowopopo, CDA Alausa Ikeja going to Berger by passing through under bridge, which has become a major concern not only for residents but also for pedestrians and motorists passing through that road. The smell, according to residents, is as a result of chemicals used by several companies in Ikeja, Acme road, Wemco road in Ogba axis of Lagos. The hor-

Rumour has it that the smell is as a result of the mortuary presence

rible stench also comes from a mortuary located very close to that road. Ironically, Lagos State Ministry of Environment shares proximity with awful smelling vicinity. And yet, many years of complaints from residents refused to yield and attract government’s attention to the area. Interestingly as well, there are traders of various items along that area. Most prominent of them are corn and snail traders, of which many Lagosians stop to patronise them regardless of the stench. Most of the buyers New Telegraph spotted were seen covering their noses but opening their mouths under their handkerchief to taste the roasted corn or to negotiate. According to Juliet Oponul, a corn vendor; “We are tired of complaining because, three years ago, the Ministry of Environment came here for inspection and also collected some of the water from the canal. Even Silver Bird Television came here and interviewed some of

us here concerning this smell but up till now, we have not heard from them or the government”. Oponul explained that the smell is as a result of chemicals coming from the companies on Acme road but since she and her colleagues are helpless, they decided to get accustomed to the smell. “ As you can see, I’m already used to the smell because I must make ends meet and by God’s grace nothing will happen to me,” she affirmed. George Daniel, a resident said that he has lived in the area for many years and he is already used to it. He went on to say that since the state government decided to turn a blind eye to it despite the presence of the police checkpoint, there is nothing anyone can do. Wasiu Bolatito, a welder within the vicinity, said, he has been there for several years and that the stench has being there. He said that rumour has it that the CONTINUED ON PAGE 25

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

Poor power supply threatens artisans CONTINUED FRO M PAG E 22

beti 2014, the government had tried to explore how power can be generated to power different sectors of the state economy, so that the state can attain super economic viability. During the summit, Governor Babatunde Fashola had highlighted that Lagos needed over 7,000 megawatts for its comprehensive socio-economic needs. He however acknowledged that power supply to Lagos, with a population of over 20 million, was less than 1,000 megawatts. According to him, the current power delivery to the state was below 1, 000MW per day as against 10,251MW needed to cater for both commercial and domestic needs of the over 20 million residents. He said that in order to be able to respond positively to the social and infrastructural needs of its large population and fast-paced mass

A welder at work

Tailors at work

urbanisation, the state government targets an increased power supply of 15,000MW by 2025. Appeal to the incoming government & Conclusion Now, as it stands in the state, it is apparent that the issue of stable and reliable power has

still not been able to be delivered to Lagos which is reputed as the economic bedrock of the nation. And as the micro-economy of a state has very crucial role to play in the overall economic prosperity of a state, it is only instructive that dedicated intervention

be made to the power sector by the incoming governments at the state and the federal level. Although the power sector has already been unbundled and delivered in the hands of private investors, the situation now

necessarily requires the reassessment of the privatization process. This will help the government to ascertain the capability and sincerity to deliver services that will complement the national effort to rebuild the economy.

Living with bad odour in Lagos CONTINUED FROM PAG E 24

smell is as a result of the mortuary presence in the environment as the water used in washing dead bodies also flow into the open canal. But the smell, he noted has been there, ever before the mortuary was established. Though, he said the mortuary actually contributes to the smell. Adeyemi Adeniron, the supervisor of JAPAUL Limited, located very close to the mortuary, also lay claims that the stench from that canal is as a result of the washing of dead bodies because the channel that the water could flow through, is the open canal. Chatting with two of the mortuary workers, New Telegraph lear nt that the water used in cleaning dead bodies never flow through the canal but dries up with the help of a machine inside the mortuary. According to Ojo Ogundale, the mortuary’s embalming room has a machine which drains up the water used to wash the dead bodies. He argued that the environment is always clean to avoid the terrible smell. Foluke Akinlade added that they dug a soak-away underground where the water goes and that the water dries up on its own there. She further explained that the Ministry of Environment has been to their place (mortuary) but after inspecting the place, the stench wasn’t traced to them. In truth and judging by the outward appearance of the vicinity, everywhere around the mortuary looked super clean, even smells fine but outside and around the building is the terrible smell. Similar to the above mentioned environment is the one located on Iju road along Agege road. The confusion here is who should take the price out of the two environments for horrible smell. Residents around here wonder if there is a government as stench is

The canal at Teco Avenue, Alausa

The canal at Iju

not describable. The difference is that it is traceable to the abattoir sharing boundary and fence with residents on Iju road. New Telegraph observed that there is a huge and wide canal where all sorts of meat parts, wastes and possible dead cows are thrown. In fact, all the abattoir waste, including the water used in washing the slaughtered cows and cleaning the platform gushes through this canal. Hence, a stretch of smelly environment from the abattoir to Agege, through Abule Egba to Jungle bus stop on Iju road extending to Fagba junction; the bad smell has become con-

Bags containing rotten parts of animals dumped close to the canal

stant and intolerable to most residents around the area. Akinde Abiola, a resident, said she is used to the smell. She acknowledged that even the smell is associated to the abattoir but the location of the abattoir should be shifted to a non-residential area for health reasons as the place is not supposed to be situated close to residential area especially a busy place like Iju road. Also, Babatunde Emmanuel, a pedestrian said that, the road has become a menace for Lagosians, who use it as the smell is sometimes unbearable that passers-by are often forced to cover

their noses when passing through that road. He, however, urged the government to visit the place and find a solution. Mr Fola Adeyemi, public relation officer of the Ministry of Environment refused to respond to the questions posed by our correspondent on the Ministry’s effort towards ensuring a conducive and less polluted environment for residents living in those vicinities and Lagosians generally. He said he wasn’t disposed to answering the questions due to some official reasons best known to him.

Life | Mega City

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

The other side of election While many went out to vote last Saturday, it was an entirely different experience for others. Oluwatosin Omoniyi reports

he just concluded gubernatorial election in Lagos was quiet successful and very peaceful. In the areas visited, scores of Lagosians came out, braced the scorching sun to perform their civic rights. Areas like Ikorodu, Epe and Lekki, Ikoyi, Surulere were very peaceful and quiet. Although, there was heavy security presence on all the areas, many residents in Lagos commended the Independent National Electoral Commission, INEC, for the peaceful Saturday’s governorship and state House of Assembly elections. An INEC official who pleaded anonymity in Ibeju Lekki area of Lagos told New Telegraph that the just concluded elections was far better than that of the Presidential and National Assembly elections of March 28. She explained that the election of March 28 was flawed by faulty card readers and delays of electoral materials. Also with much tension and fear of violence, “though, there was violence in some states,” she pointed. This time around, she said the card readers were prompt and efficient Another INEC official, who also pleaded anonymity, in Ikorodu area of Lagos, said even though, this last election was more peaceful than that of the Presidential and National Assembly’s, there were more shenanigans and desperation in this last one. He cited the snatching of ballot boxes, desperate attempts in trying to doctor the results as some examples. “Thank God for the presence of security operatives, mostly army. Otherwise, it could have been bloody. But I am disappointed in the role Police played. They were partial and partisan. They watched and stayed off when some thugs come to hijack ballot boxes away. It was the army that restored sanity,” he said. Taofeek Ayinla, a resident in Ikorodu said he was happy that he was able to perform his civic responsibility. He said, unlike the last elections, there was less tension in the just concluded elections. “No intimidation and harassment but there is much plea to the people’s sentiment, persuading us to vote for their candidate of choice,” he said. However, Ayinla pointed out that INEC officials seemed to learn from the past mistakes as the card readers were smoother and apt. The queue moved faster, according to him. Moyosoreoluwa Oluwalogbon of Ketu area, said the electoral process went smoothly and peacefully in her area but with little hitches of allegation of ballot box snatching. “I didn’t see any ballot box hijacked or snatched, but I heard voices shouting and threatening to kill themselves. Of course, there were minimal challenges,” she said. While some understood the essence of the last gubernatorial and House of Assembly elections, others simply believed it to be a fortune making venture. Funmilayo Alabi, a resident of Igbogbo Bayeku of Ikorodu, was on the queue waiting for her turn to cast her vote. While waiting under the blazing sun, she was stamping her feet on the ground severally and impatiently. She grumbled aloud that, “if after this much trouble and I don’t get my promise of rice and cash, it won’t be funny at all because I will make trouble”. Alabi told New Telegraph that most of them on the queue were promised some benefits of cash and food items in return for their votes, reason she came out to vote. Otherwise, she was less concerned as to who governs them or not. “It is always the same style of government filled with empty promises,” she said. There was a group of about four men arguing seriously about the money given to them to share and it seemed one of them went away with the money. The man in his Igbo dialect was heard passionately arguing and trying to prove his innocence about the money. “If I got N1M, I won’t be here by now and I won’t be looking this haggard. The money promised us for this election is yet to be given us,” he said. There were quiet a number of petty traders at almost every polling booth , on hand to provide water, soft drinks and snacks to voters but at exorbitant prices. For Sola Bashiru, the election made no meaning to her but her business. Last Saturday afforded her the opportunity to make sales which resulted to huge profit for her. For example, a small bottle of chilled Eva water was sold for N150 while the big one went for N250. A bottle and can of soft drinks went for flat rate of N200. “It is a blessing in disguise for me. Let them continue to votes so that I can continue to make exceptional sales,” she said. Children and youths had a field day on the roads, highways and on the streets. They trooped out to ride bicycle, played ball or just run around. They enjoyed the freedom of the free roads while it lasted. Indeed, going through the whole of Lagos when it is traffic free does not take time at all and less stressful. If possible, within three hours, one can tour the whole of Lagos state, if it is totally traffic free. However and in truth, the just concluded gubernato was peaceful and friendly. Lagosians wore smiles all through even during the counting of results. It is indeed the reflection of the votes for their choice candidate.

Waiting to vote at VGC, Ajah, during the Governorship and State House of Assembly elections in Lagos.

Children on the street of Lagos during the Governorship and State House of Assembly.

Ever busy Shoprite shopping complex deserted during the Governorship and State House Assembly elections in Lagos…

PHOTO: SULEIMAN HUSAINI

PHOTO: TONY EGUAYE

Security men at work

PHOTO:GODWIN IREKHE

Voters queuing at the Sunday Adigun Unit. Alausa, Ikeja, during the Governorship and State House of Assembly elections in Lagos.

PHOTO: GODWIN IREKHE

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

My City, My World I will serve you allsays Governor-elect Muritala Ayinla midst jubilations followALagos ing his victory at the polls, State Governor-elect,

All Progressives Congress Governorship candidate, Akinwunmi Ambode (second right), and his wife, Bolanle, during the accreditation exercise at his Polling Boot, Ajaganabe ward 033 in Epe, Lagos.

Electorate on line for accreditation, at Onilekere primary school, Cement in Dopemu Agege area,

PHOTO: SULEIMAN HUSAINI

Mr. Akinwunmi Ambode, has pledged to bring greater prosperity, growth and development to the State in order to further expand the legacy of Ambode good governance and progress bequeathed by his predecessors. Noting that Lagosians have demonstrated that Lagos is not about ethnicity or religion but about a common desire to enthrone good governance, the Governor-elect also pledged not to discriminate either on grounds of ethnicity or religion adding that such discrimination has neither happened in the past nor would it happen at the present or in the future. He appealed to residents to cooperate with ‎him, saying that he would be servant to all the estimated 21 million residents in the state. Ambode, in his acceptance speech said:” I may have won your vote but it is you, the people, who won the election. The true winners are the people of Lagos state. I accept this victory on your behalf. Let me congratulate INEC for a Job well done and keeping alive Nigeria’s hope for a brighter democracy. To my main opponent, Mr. Jimi Agbaje of the PDP, I thank you for a keen contest and invite you, alongside other gubernatorial candidates, to join hands with me in moving Lagos forward. He added: “I have been declared a victor in this election but this is no time for gloating or boasting. I am now a servant of this state and its entirety, not just for APC members but for all Lagosians no matter their political stripes and ethnicity or religious affiliations.” He however, commended the APC National Leader, Asiwaju Bola Tinubu, Governor Babatunde Fashola and others who played great roles in actualising his ambition.

Lagos is still evolving, says Ogundele Okocha Ruth

or Mr Ojo Ogundele, an acFTOS countant working with funeral, Lagos is a

jubilation after voting

Children playing football on the Street during the election.

PHOTO: TONY EGUAYE

PHOTO: SULEIMAN HUSAINI

city that accommodates people without discrimination. Lagos is a state where everyone is one and united irrespective of tribe, religion or skin colour. Lagos also has a very conducive environment for Ogundele living compared to most states. Having stayed in Lagos for six years, he believes he can testify that it’s a good place to be. Lagos is also dynamic in nature and it has evolved over the years into a mega city and its still evolving. The government in Lagos is one of its kind because, they are doing a good job and they are still trying despite the fact that this tenure will soon be up; they are still working and has laid a good platform for the incoming governor to emulate. The challenges in most mega cities is traffic congestion, I have to leave my house as early as five in the morning to beat traffic. So, I think, the government should construct more roads, provide alternative routes for motorists and also repair bad roads for easy and fast movement. Another major problem as he cited is the electric power supply. Although, this problem is not peculiar to Lagos alone but other states in Nigeria, the government should look into it. If there is light, our business will be more successful and the cost of commodities will reduce. For instance, I work in the mortuary and we make use of light. If there is constant power supply, the cost of running this place will reduce. Another problem is the presence of thugs in Lagos; they are always very hostile towards people, as such, I’m always uncomfortable around them. So, I am using this medium to ask the government to find a suitable job for them instead of harassing people around.

The Mega City

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

UPCOMING EVENTS

SSCG Nigeria Business Conference 2015

Organiser: Sub-Saharan Consulting Group (SSCG) Date: April 15, 2015 at 09:00 – From: 17:00 Venue:Radisson Blu Anchorage Hotel Ozumba Mbadiwe Ave, 101006 Victoria Island, Lagos, Nigeria

Google Analytics for startups

Organiser: RainyLemon Ltd Date: April 16, 2015 From 9:30 AM - 1:00 PM Date: 294 Herbert Macaulay Rd Lagos,Nigeria Date: Alausa 10, Nurudeen Olowopopo Drive, Alausa,Ikeja, Lagos, Nigeria

Leading in Execution for Operational Excellence

Organiser: CVL (Centre for Values in Leadership) Date: April 16, 2015 From: 9:00 AM - 4:00 PM Venue: CVL Building 6 Balarabe Musa Crescent, Off Samuel Manuwa Street Victoria Island, Lagos. Nigeria

Youth to Business Forum by AIESEC Lagos Organiser: AIESEC Lagos Date: April 18, 2015 From 9:00 AM - 6:00 PM Venue: Multipurpose hall University of Lagos Yaba, Lagos

The Battleship Advanced Digital Marketing Course Organiser: Battleship Academy Date: April 18, 2015 From 8:30 AM - 5:00 PM Venue: Lagos Chamber Of Commerce and Industry Alausa Ikeja Lagos, Nigeria

Operation No More Poverty

Organiser: Goal getters integrated club of Nigeria Date: April 20, 2015 From 8:00 AM - 5:00 PM Venue: Lagos Mainland NUT Event Hall, Agidingbi, Ikeja Lagos, Nigeria

MEGA CITY EVENTS Breakfast meeting with Sir Olaniwun Ajayi to celebrate his 90th birthday in Lagos

L-R: National Missioner, Ansar-ud-Deen Society of Nigeria Abdulrahman Ahmad; celebrant, Olaniwun Ajayi; Emir of Kano/Chairman of occasion, Mohammed Sanusi II and Lawrence Emehel of Catholic Diocese of Sokoto, at the event. PHOTOS: SULEIMAN HUSAINI

Otuba Michael Subomi Balogun (left) and Alhaji Aliko Dangote at the event

PHOTOS: SULEIMAN HUSAINI

wedding reception between mayomi ajuah ekunkunbor and adekunle oluboowale @ bishop adekunle howells memorial anglican church

L-R: Groom’s father, Engr Kehinde Adeyemi Olubowale; Bride’s Mother, Mrs Helen Esi Ekunkunbor; Couple, Mr and Mrs Adekunle Tolulope Olubowale; Groom’s Mother, Mrs Kehinde Kikelomo Olubowale and Bride’s Father, Mr Sonny Ekunkunbor, at the Solemnization of the holy matrimony between Mayomi Ajuah Margaret Ekunkunbor and Adekunle Tolulope Olubowale at Bishop Adelakun Howells Memorial Anglican Church Hall Surulere Lagos. PHOTO: SULEIMAN HUSAINI

Edeme Ogbuaga (left), and Mr Peter Arigbe, at the Solemnization of the holy matrimony between Mayomi Ajuah Margaret Ekunkunbor and Adekunle Tolulope Olubowale, during their at Bishop Adelakun Howells Memorial Anglican Church Hall Surulere Lagos. PHOTO: SULEIMAN HUSAINI

The solemnization of Holy Matrimony between Paul and Maureen, at St. Paul Anglican Church, Isolo while the reception took place at Royal Terrace Hotel & Tower Ltd. Isolo, Lagos recently.

L-R: Groom’s brother, Mr. Emeka Nwajiufor; Bride’s sister, Mrs. Nkem Nwobi; Groom, Paul Nwajiufor; his wife, Maureen , Groom’s Mother, Mrs. Patricia Nwajiufor and Bride’s brother, Mr. Chizoba Okafor…at the event

Chairman of the occasion, Engr. Innocent Nwobi and his wife Chinyere…at the event

PHOTOS: GODWIN IREKHE

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

FCT Watch

Trajectory of naira in 2015 general polls

The Investor

Money

Maritime

Tough milieu turns spotlight on banks’ African affiliates

Terminal operators caution council boss over derogatory comments

Corporate governance: Need for high standards in regulatory oversight

Business What's news

Firm secures N180bn for consumer service in Nigeria, others A Dubai-based private equity company managing about $9 billion across emerging markets, Abraaj Group, has secured N180 ºbillion ($990 million) for the development of mid-market firms in sub-Saharan Africa.

p.30

Airline operators fault multiple entries for foreign carriers Airline Operators of Nigeria (AON) has condemned the multiple entry points granted foreign carriers, the inadequate airport facilities and day time only operation of most airports in the country and urged for stimulus package/intervention for domestic airlines.

L–R: Managing Director/CEO, Wema Bank Plc, Mr. Segun Oloketuyi; Executive Director, Market Operations and Technology, The Nigerian Stock Exchange, Mr. Adeolu Bajomo; Chairman, Board of Directors, Wema Bank Plc, Mr. Adeyinka Asekun; Executive Director, Wema Bank Plc, Mr. Ademola Adebise and Head, Legal and Regulation Division, NSE, Mrs. Tinuade Awe, at Wema Bank’s Facts Behind the Figures in Lagos.

BOOST

The on-going telecoms acquisition is to boost further growth in the industry

p.30

Kunle Azeez

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

Kunle Azeez

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Teledensity now 101%

igeria’s telecommunications sector has recorded a boost in its subscriber base as the number of active telephone lines in the country has increased to 142.5 million, New Telegraph has gathered. According to findings, from 139.1 million active telephone lines at the end of December, 2014, the data has increased to 140.8 million in January and in February, the figure was 142.5 million. New Telegraph gathered that the increase represents additional 3.4 million active phone lines recorded on mobile networks in January and February this year.

However, the new additions were recorded only by Global System for Mobile Communications (GSM) operators such as MTN, Glo, Airtel and Etisalat. Operators in the Code Division Multiple Access (CDMA) segment and fixed wired/wireless segment did not record additional subscribers during the two months of January and February. Also, of the 142.5 million active national subscriber base, GSM networks control 140.2 million while CDMA and fixed line networks control 2.1 million and 183,270 lines respectively. Teledensity, which is the measurement of how many

INFLATION RATE February 2015.........................8.4% January 2015...........................8.2% December 2014.........................8%

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

Finance Editor

Senior Correspondent

Nigeria’s active phone users hit 142.5m telephones are available, expressed as the number of telephone lines for every 100 people in an area, also grew marginally in the two months. According to the Nigerian Communications Commission (NCC)’s official data, teledensity increased from 99.39 per cent at the end of December, last year to 100.59 per cent in January and 101.85 per cent at the end of

98%

Being the market share of GSM operators in the country

February this year. However, while GSM networks continue to dominate the market with almost 98 per cent market share, the CDMA and the dormant fixed lines operators hold the remaining two per cent market share. Already, some operators including one national carrier, one GSM operator, five CDMA operators and six fixed/fixed wireless operators. The operators include NITEL, MTel, Starcomms, Reliance Telecoms (Zoom Mobile), Intercellular, MTS First Communications, WiTel, O’ Net (Odua Telecoms), Rainbownet, Monarch Communications, Xs Broadband, Webcom, and Disc CONTINUED ON PAGE 30

Rates Dashboard EXCHANGE RATE (BDC as at Apr. 10)

USD . . . . . . . . . . . . . . . . . . . . . . N207 Pounds . . . . . . . . . . . . . . . . . . . N300 Euro . . . . . . . . . . . . . . . . . . . . . . N230

l Foreign Reserves – $29.589bn as at 4/04/2015

Source: CBN

EXCHANGE RATE (Interbank as at Apr. 10)

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . . N301 Euro . . . . . . . . . . . . . . . . . . . . . . N214

Business | News

INVESTMENT

European and North American investors release fund for rapid business expansion in Africa

Bayo Akomolafe

Dubai-based private equity company managing about $9 billion across emerging markets, Abraaj Group, has secured N180 ºbillion ($990 million) for the development of mid-market firms in sub-Saharan Africa. The fund is for consumer goods and services, consumer finance and resource and infrastructure services in the core countries of Nigeria, Ghana, Côte d’Ivoire, South Africa and Kenya. It was learnt that the group has 27 investment and operating professionals based across its four offices in Nairobi, Lagos, Accra and Johannesburg. The company noted that it had deployed around $3 billion across the African continent, while in sub-Saharan Africa alone, it had made 67 investments with 30 full or partial exits. Founder and Group Chief Executive of the group, Mr. Arif Naqvi, explained in Dubai that

Firm secures N180bn for consumer service in Nigeria, others the fund tagged: “SubSaharan Africa Fund III,’’ was the third in the sub-Saharan Africa. He said that the fund was provided by its European and North American investors who com-

Communications. All the operators were once vibrant, but became inactive due to their inability to cope with market competition. Meanwhile, Visafone Communications Limited, which is the only surviving CDMA operator in the country, is now on the brink of being acquired by MTN Group, thereby putting an end to CDMA operations in Nigeria Head, Corporate Communications, MTN Nigeria, Mrs. Funmilayo Onajide, confirmed the development to New Telegraph. “We will send a holding statement at the appropriate time,” she said. In addition, industry watchers say that the coming on board of NATCOM as the new owners of the incumbent National Telecommunications Limited (NITEL) and its mobile arm, MTEL, would help in reviving the fixed line business in the country. NATCOM, which paid the 70 per cent balance of the bid price of $252.5 million for the acquisition

mitted 64 per cent of the capital in the Abraaj Africa Fund III. Also, Naqvi explained that the funding came from global institutional investors, pension funds and sovereign

wealth funds adding up to 76 per cent. However, Naqvi did not disclose how much Abraaj contributed to the fund. He noted: “Africa is a story driven by rapid ur-

banisation and favourable demographics that are fuelling consumption across multiple sectors from an expanding, young middle class.’’ The firm stressed that the new African

fund would focus on well-managed, midmarket firms in sectors most likely to benefit from demand driven by the rapid expansion of a young, urban, middleclass.

L-R: Managing Director/CEO, Bank of Industry (BOI), Mr. Rasheed Olaoluwa; Vice President, Nigeria Academy of Engineering, Mrs. Johanna Maduka and Academy President, Prof. Raifu Salau, during a visit of the engineering members to the Bank of Industry in Lagos. PHOTO: SULEIMAN HUSAINI

Nigeria’s active phone users hit 142.5m CONTINUED FROM PAGE 29

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

of the assets and business units of the NITEL/ MTE, has been tasked to resuscitate the landline telephony in the country. President of the Association of Telecoms Companies of Nigeria (ATCON), Mr Lanre Ajayi, said that NATCOM has what it takes in terms of landline infrastructure of NITEL, to venture into the process of resuscitating landline network, which has almost been relegated to the background by the mobile telephony. He said: “NITEL has robust infrastructure for landline, which the new owners now have inherited from the former NITEL owners. By this, we are talking of ample Right of Way (RoW), the manholes, the cables, the ducts. So, it is expected that the new owners have access to all these resources to roll out the landlines.” Also, a consumer rights activist, Mr Deolu Ogunbanjo, said: “As a national carrier, we expect to see the return of landline. I expect the return of the landline calls to Nigerians.

Airline operators fault multiple entries for foreign carriers SETBACK

Nigeria must wake up and take the God-given geographical position as the aviation hub for Africa Wole Shadare

irline Operators of Nigeria (AON) has condemned the multiple entry points granted foreign carriers, the inadequate airport facilities and day time only operation of most airports in the country and urged for stimulus package/intervention for domestic airlines. Chairman of the group, Capt Noggie Meggison, said that the operators were opposed to the 1940-50 model and idea of national carrier quest in the electric age of 2015 when the world has moved from national carrier as employment bureau, which didn’t work in NEPA,

NITEL and others. He said: “We hope that as the incoming administration settles down in office, it will put a strong aviation policy in place, it would engage AON on how to move the strategic air transport sector forward to a place where we should be, which is one, as a major contributor to the economy and the GDP (from 0.4 per cent to 10 per cent in two years ) and two, as a source of employment for teeming youths and skilled pilots and engineers (create 5000 skilled and 50,000 direct and indirect jobs in two years.) Nigeria must wake up and take the Godgiven natural/geographical position as the aviation hub for Africa. The AON chief expressed the hope that the incoming administration would leverage the aviation sector to national development, economic contributor and create jobs for Nigerian youths. Meanwhile, the body has congratulated the Presidentelect, General Muhammadu Buhari and the out-going President Goodluck Jona-

than for the peaceful atmosphere that reigned supreme during the just concluded presidential elections. The body has also charged the incoming government to introduce policies that would help to improve the aviation industry. In a congratulatory letter, the association said the task to rebuild the aviation/airline sector must remain on course in the light of many issues that domestic operators have consistently put on the front burner for government’s attention. “Against this background, the AON wish to draw government’s attention to issues agitating the minds of operators which are not limited to the following: the need for aircraft maintenance hangar in the country, the exclusion of domestic airlines by the Central Bank of Nigeria window for credit facility, the skyrocketing price of aviation fuel and the multiple tax regime by aviation authorities to domestic carriers,” AON said in the letter signed by Meggison.

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

FCT Business Watch

Trajectory of naira in 2015 general polls Abdulwahab Isa Abuja

igeria’s local currency, the naira, experienced its worst moment as instrument of legal tender in the heat of the build up to the 2015 general polls. It became first causality in the hands of political profiteers and other sundry forces in their desperate efforts to record political victories and mileage. In the course of a heightened political campaign across the length and breadth of the country, there were media reports that political gladiators ‘dumped’ naira for US dollar for their conveniences. A constituted authority vested with the onerous task of monitoring the naira in relation to other major currencies, the Central Bank of Nigeria (CBN), desperately tried varied options in its attempt to rein naira to a tolerable limit in exchange to major international currencies. With foreign reserves taking a dangerous deep down on intermittent basis, prices of crude oil in their lowest ever; there was a huge gap between naira and other major currencies especially the US dollar which was fast gaining ground as acceptable means of conducting transactions. Irretrievable fall of naira, CBN’s headache The pervasive free fall of the naira against major currencies, especially the US dollar and the British pound sterling, left the CBN crack team, led by the Governor, Mr. Godwin Emefilele, restless. The governor promptly took some of initiatives, including closing all forex supply windows with the exception of the interbank window. This singular step was able to cut off all other channels through which dollar supply get to the public. Nonetheless, some wide band between the interbank market and the Bureau De Change market still persisted. For instance, less than 10 days to March 28, 2015 presidential poll, the naira was exchanging for N220 to the dollar. Elections as naira albatross Hard as CBN egg heads tried to stabilise the naira, to narrow the widening gap against other currencies, the political environment frustrated the move as politicians engaged in hoarding of dollars and pound sterling, spending same towards achieving their electoral victories. Emefile came out bluntly at the last Monetary Policy Committee (MPC) meeting. He dropped a bombshell, tying naira’s fate to politicians’ conducts. He expressed optimism that the naira, which had lost substantial value against major currencies, would regain its value once

Jonathan

general polls were concluded. The apex bank also warned the Deposit Money Banks (DMBs) to desist from transacting businesses in dollar or risk sanctions, stressing that naira remains the Nigerian currency and should be used for all transactions in Nigeria. He said: “Reserves at $30 billion right now, given the pressures and vulnerability that we have seen in the last couple of weeks, I think it is a good level of reserve and can support close to about five to six months of import and this is enough to support business and the economy.” On the state of the naira, the CBN governor said that the closure of the Retail Dutch Auction System (RDAS) window of the foreign exchange market on February 18, 2015, had unified the foreign exchange market. Consequently, he said that naira depreciated by N17.9k or 9.04 per cent in the period under review as the exchange rate opened at N180.1/US$ and closed at N198.0/US$, with a daily average rate of N198.0/US$. The governor also debunked insinuation that the apex bank engaged in prioritising sale to foreign investors, stressing that it was far from the truth. “There is nothing like prioritising sale to foreign investors. The CBN sells foreign exchange through intervention on a daily basis or as it deems fit to people who have effective demand. What we have done consistently is to make sure that for the foreign investors, we have made a promise to them that it is a free entry and exit. And that whenever they decide to invest in Nigeria, there should be unhindered access to get foreign exchange and they can exit whenever they decide to. “We have tried as much as possible to meet all the demands

Buhari

Emefiele

coming from foreign investors but I don’t think that amounts to prioritisation. It is just that we want to make sure they are happy because of the promise made at the point of their coming into the country,” he said. The apex bank, in a statement last week, threatened to use Economic and Financial Crimes Commission (EFCC) in prosecuting anyone caught conducting domestic transactions in dollars.

The naira, which had been hovering between N215 and N222 to a dollar since this year, closed at N200 to the dollar days after presidential polls

Elections over, naira firms up As predicted by the CBN governor, the naira began a gradual firm up against the dollar on conclusion of 2015 elections. A few days after the presidential election results were announced and the opposition candidate, Major General (rtd) Muhammadu Buhari, declared the winner, the naira firmed up. The peaceful outcome of the presidential election saw massive offloading of the US dollars at the parallel segment of the forex market on the Monday following the election. This, without doubt, led to significant appreciation of naira at that segment of the market as politicians, investors and other currency users in the country, who hitherto were storing the dollar for fear of post-election violence, flooded the market with the currency. The naira, which had been hovering between N215 and N222 to a dollar since this year, closed at N200 to the dollar days after presidential polls while the naira remained at N197 to the dollar at the interbank market. The currency was not the only item that gained mileage aftermath of the general polls. The capital market heaved a sigh of relief too. Statistics available a week after presidential poll showed market capitalisation of the listed equities

advancing by 3.92 per cent or N514 billion to close at N11.621 trillion. Fifty-five stocks recorded price appreciation Thursday after Saturday’s presidential poll while 11 others depreciated. Experts espouse confidence Researchers at Renaissance Capital Limited have posited the likelihood of improved economy days ahead after the swearing-in of a new government come May 29. In a recent report titled: “Nigerian Banks: Thoughts on a Buhari Win, Renaissance Capital Limited urged incoming administration of Major General Muhammadu Buhari to ensure improved collaboration between the monetary and fiscal authorities in economic management. Such collaboration, the firm noted, would ensure that corruption, wastage and revenue leakages, among others, are tackled. “What we will like to see is improved collaboration between the monetary and fiscal authorities in economic management (tackling corruption, reducing wastage, reducing revenue leakages etc.), which could lead to a quicker easing of significantly tight regulations, such as the cash reserve ratio (CRR), on the Nigerian banks. “We think near term, the monetary policy environment is likely to remain tight, which is our base case expectation,” it added. Conclusion With 2015 elections won and lost by candidates, Nigerians are expectant of brighter economy with Gen. Muhammadu Buhari taking the mantle of administration next month. A buoyant economy, experts say, will lead to job creation and more, ostensibly hinged on the economic team expected to be assembled by the incoming government.

Business | The Investor

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Chris Ugwu

tock markets all over the world are known to be key driver of the economies of nations through their activities. It is the expectation of the regulators and other stakeholders to unleash the hidden potential of the sector for maximum impact that will induce economic growth. A major recipe for this is the entrenchment of a sound code of good corporate governance for quoted companies and others willing to be admitted on the floor of the exchange. Before a company is listed on the Nigerian Stock Exchange, there are certain requirements they must meet. After listing, there are also standard requirements they must meet. These include regular dissemination of information about the financial performances and any changes that can affect their operations. However, over the years, many quoted companies have been violating this important obligation, thereby keeping investors in the dark about their financial health among others. Investors cannot forget in a hurry the manipulation of share prices which firms, in collaboration with other financial institutions, indulged themselves; a despicable practice that saw the market bubble to a peak on March 5, 2008, with market capitalisation and index hitting N13 trillion and 66,371.20 points respectively only to reverse speedily to N6.957 trillion and 31,450.78 by December, 2008. How corporate governance impacts on Nigeria’s capital market development is a two-way traffic. As much as good governance practices promote the development of the capital market, weak corporate governance practices also inhibit its development as it erodes confidence with potential wider implications for the Nigerian financial markets and the general economy as seen in the 2008. It is therefore not surprising that market regulators have continued to wield the big stick by penalising some companies especially from the insurance sub-sector of the economy for violating post-listing requirements. Position of regulators The acting Director General of SEC, Mr. Mounir Gwarzo, had said that the commission would do anything to compel operators in the market to obey the rules guiding it. This, according to him, informed the decision to tighten the noose on market infractions and other miscellaneous capital market crimes. “We must implement the SEC zero tolerance policy in a decisive and far-reaching manner. We are therefore determined to eliminate sharp practices, deter malpractice and change behaviour by ensuring that both the institutional and personal costs of any wrongdoing are extremely high. The Exchange, in an effort to achieve a world class capital market, also reiterated its commitment to maintain zero tolerance posture on dealing member firms and quoted companies on violations of rules and regulations. This is on the back of the exchange’s determination to shift

NSE building

Corporate governance: Need for high standards in regulatory oversight gears to drive innovations centered on increasing global visibility for the Nigerian capital market in the current year. The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, said that the exchange would sustain a zero-tolerance stance on dealing member firms and listed companies violations. Recent sanctions The regulators have raised the bar to strengthen its monitoring capacity, in order to address issues arising from various market infractions in the market. SEC during the first quarter of 2015 suspended three market operators from all market activities for various infractions. SEC had in February announced the suspension of Elyon Assets Management Limited, its Directors and sponsored individuals from all capital market activities. The regulator in a notice obtained from its official website said the suspension was as a result of the operator’s breach of extant capital market rules and regulations. The Commission noted that the suspension shall remain in force until further notice. The Commission had also in March suspended International Standards Securities Limited and Woodland Capital Market Plc for various market infractions. In a statement, the apex regulator suspended International Standards Securities Limited, its directors and sponsored individuals from all capital market activities in view of its non-compliance with SEC Rules/Regulations and deficiencies observed in its operations during a target inspection carried out on it recently. The suspension, according to

There is the need for regulators to tighten the noose on market infractions

SEC, is indefinite and shall remain in force pending the resolution of the matter against the operator. Also, the regulator suspended Woodland Capital Market Plc together with its directors and sponsored individuals in connection with the unauthorised sale of 3,750 units of PZ Plc shares belonging to an investor and its refusal to comply with the Commission’s directives in that regard. SEC noted also that the suspension was also indefinite and shall remain in force pending the resolution of the matter against the operator. Current action SEC and the NSE have made a lot of efforts to promote good corporate governance practices and reposition the Nigerian capital market for development. In April 2011, the SEC issued a new code of corporate governance to align governance in public institutions with global best practices. The SEC has also made efforts to retool in performing its regulatory oversight. Recently, the apex regulator advised the board of governors of the Performance, Earnings and Returns Leadership (Pearl) Awards Nigeria to include Good Corporate Governance in its criteria to reward quoted companies in Nigeria. The Commission also assured of its readiness to collaborate with the Pearl Awards in encouraging companies for high performance. Acting Director General of SEC, Mr. Mounir Gwarzo, stated this when he received members of the governing board of Pearl Awards Nigeria in his office in Abuja. He said it was in a bid to ensure

that companies operating in Nigeria’s capital market do well, that SEC is set to launch its corporate governance scorecard. Gwarzo explained that the scorecard would ensure compliance of these companies with the tenets of corporate governance which will in turn translate into better returns and better service delivery among others. In the same vein, the NSE, in collaboration with the Convention on Business Integrity (CBi), had recently launched the foremost Corporate Governance Rating System (CGRS) for quoted companies. CGRS is designed to rate companies listed on the Exchange based on their corporate governance and anti-corruption culture, thereby improving the overall perception of and trust in Nigeria’s capital markets and business practices. The Chief Executive Officer, NSE, Mr. Oscar Onyema, speaking at the event said with the rating system, it is anticipated that there would be an improvement in the overall perception of capital markets and business practices. “It is expected that companies will enjoy tangible business advantages from risk-oriented and/or ethically sensitive business partners and investors. In addition, competitors would be challenged to establish the same level of good governance by setting standards of excellence. Companies would not only set themselves apart from their peers, but also contribute to improving the climate for doing business in Nigeria.” Conclusion A developed capital market is a world class capital market and such market is one that engenders investor confidence, has breadth and depth in terms of product offerings, characterised by market integrity, has a sound regulatory framework, a strong and transparent disclosure and accountability regime, fosters good corporate governance and is fair, robust and efficient market place. Hence there is the need for regulators to tighten the noose on market infractions and other miscellaneous capital market crimes.

Business | Money

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

SURGING

Islam finance is growing fast, but still represents less than two per cent of conventional banking assests Tony Chukwunyem

hairman of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, has disclosed that total Islamic financial assets worldwide are projected to rise to $4.2 trillion by 2020. He stated this at the 10th International Conference on Islamic Banking and Finance in Doha, according to a statement by the Group. Dr. Ali pointed out that there was an increasing global demand for Islamic financial products and services as more and more entities such as universities, centres of studies and research, specialised associations, supervisory and control boards and international financial institutions, begin to welcome the industry. According to him, Islamic financial assets are currently growing at 17 per cent and are estimated to have hit $1.6 trillion worldwide. Citing the role of the IDB Group in supporting the Islamic financial industry, he stated that the Group has been able to create a convenient environment for the industry

Islamic finance assets to hit $4.2trn by 2020 –IDB by encouraging financial integration through development of the Zakat, Awqaf and Micro-finance sectors. The IDB Group Chairman emphasised the need for the development of research and knowledge instruments as well as developing financial products which would be within the

reach of those segments without sufficient access to banking services. “Most important among these products is Islamic micro-finance, which could help reduce poverty and unemployment,” Dr. Ali said. He also spoke of the diversification of the Islamic financial industry and the

(IMF) has identified challenges that, it says, the Islamic finance system would have to overcome if it is to unlock its huge potential and develop safely. In a recently released report, the IMF said that while Islamic finance is growing fast globally, it still lacks regulatory and supervisory frameworks

catering to its unique risks. The Fund pointed out that the system has so far been governed mostly by frameworks developed for conventional finance. Cross-border operations of Islamic financial institutions have expanded considerably without regulatory harmonisation, the IMF said. “These developments indicate a need for increased regulatory clarity and harmonisation, closer co-operation between Islamic and conventional financial standard-setters, and further enhancement of tools for effective supervision,” it said. The industry is still largely nascent, lacking economies of scale and operating in an environment where legal and tax rules, financial infrastructure and access to financial safety nets and central bank liquidity are either absent or do not take its special characteristics into account, the IMF said.

Euro’s viability hurt by easing

Q L-R: Managing Director CitiBank Nigeria Limited, Omar Hafeez; Managing Director Standard Chartered Bank, Bola Adesola; Director Corporate Communications Department (CBN), Ibrahim Mu’azu; Director Banking Supervision Department (CBN), Agnes Olatokunbo Martins and Managing Director Union Bank, Emeka Emuwa, after a press conference to mark the end of the 321st bankers’ committee meeting in Lagos…recently

UBN deploys Oracle Flexcube

nion Bank of Nigeria Plc (UBN) has deployed the Oracle Flexcube Universal Banking Solution 12.0; a new core banking application, as part of a plan to modernize its infrastructure, improve operating efficiency and customer service delivery, according to a statement by the lender. The bank also stated that as part of efforts to improve customer experience, it deployed the Oracle Flexcube as the single operating platform for its countrywide network. It explained that as one of Nigeria’s big lenders with an extensive network of over 320 branches across Nigeria, it had to introduce the new platform to address its corporate, retail and investment banking needs, thereby positioning itself as a highly respected provider of quality banking services in Nigeria. Chief Information Officer (CIO) of the

establishment of an integrated system of institutions and financial markets that would meet all the requirements of development at all levels, in addition to developing innovative mechanisms for management of liquidity in Islamic financial institutions. Meanwhile, the International Monetary Fund

bank, Mr. Yomi Akinade, stated that with the new platform, the bank would be enhancing and standardising its operations across the country by leveraging on the capabilities of the new technology. “We will have a common operating platform in our extensive network of over 320 branches across Nigeria,” he said. Mr. Akinade disclosed Union Bank went live with the new platform on April 7, 2015, adding that since the bank embarked on restructuring in 2010, his team has implemented well over 70 technology projects. “There are three (3) key areas on the over 70 technology projects, which include: improving customers’ services, securing customers and the bank’s data as well improving our productivity as an institution,” he affirmed. Mr. Akinade emphasized that during the

time of the upgrade, customers and the general public may experience some challenges, but noted that measures had been put in place to ensure seamless service delivery in case of disruptions during implementation. “As you well know, when you go live with a major massive complex project like this, there would be teething issues. So, there are challenges and customers should understand this; but is for their own long term benefit; because we would have a much more superior service offering when the system runs fully,” he added. According to the bank, some of challenges being experienced with the current system include the maintenance of multiple servers in branches, constant need for system enhancement when a new field is required on the system and complexity in report

First Rand to commence Ghana operations

ne of South Africa’s biggest finance groups, First Rand, has received the approval of the Bank of Ghana (BoG) to start operations in the West African Country, according to reports from Accra. The South African lender had secured the regulator’s provisional license last year but it needed this final approval before it could open its doors to the public. Head of corporate communications, at First National Bank – the Bank’s headquarters in South Africa, Virginia Magapatona, was quoted as saying that there were still some regulatory requirements that were being met and “we are well positioned to start business soon after the final formalities have been satisfied”. She also added that, they will be offering full banking services when they begin operations. “We have applied for a full commercial bank license and will therefore be addressing all banking segments. We shall be bringing the full width of our product suite into Ghana,” she stated. The investment unit of First Rand (Rand Merchant Bank) had commenced operations in Nigeria in early 2013 but the bank has now reportedly applied to the Central Bank of Nigeria (CBN) for a commercial banking license.

uantitative Easing (QE) may be helping Europe achieve its economic targets, but it is also undermining the longterm viability of the euro by tarnishing its allure as a global reserve currency. Central banks cut their euro holdings by the most on record last year in anticipation of losses tied to unprecedented stimulus. The euro now accounts for just 22 per cent of worldwide reserves, down from 28 per cent before the region’s debt crisis began five years ago, while the dollar and yen’s share of holdings have both climbed, data from the International Monetary Fund (IMF) show. “As a reserve currency, the euro is falling apart,” said Daniel Fermon, a strategist at Société Générale in Paris. “As long as you have full quantitative easing, there’s no need to invest. The problem for the moment is we don’t see a floor for the currency. Money’s flowing out.” European Central Bank (ECB) president Mario Draghi has in the past welcomed the drop-off in reserve managers’ holdings because a weaker exchange rate makes the eurozone’s economy more competitive. The decline in euro reserves suggests other central banks consider the ECB’s €1.1-trillion (R14-trillion) of QE bond purchases, which started a month ago, to be the biggest threat to the currency’s global status since its 1999 debut.

Business | Money

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Tough milieu turns spotlight on banks’ African affiliates products and a number of other strategic initiatives. As we gain critical mass in the African market, we look forward to increased earnings in line with the diversification of our business across Africa.” In a chat with New Telegraph, a financial analyst at Berta Associates, Festus Okolo, attributed Nigerian banks’ current expansion on the continent to oil and gas finds in East Africa. According to him, banks want to take part in financing oil and gas projects in East Africa by setting up subsidiaries there. He also pointed out that Kenya was the largest economy in East Africa and that it was important for any bank that wants to be serious player on the continent to have a presence in the country.

Tony Chukwunyem

lush with cash raised during the 2005 banking consolidation, Nigerian lenders embarked on aggressive expansion plans on the continent. However, the onset of the 2008/2009 banking crisis disrupted most of these plans and many struggling banks had to shut down some of their foreign subsidiaries. Indeed, following the introduction of a new banking model by the Central Bank of Nigeria (CBN) in 2010, only banks with a capital base of N50 billion and above could apply for an international banking license that will allow them to have subsidiaries off shore. Thus, currently most of the banks that still have foreign subsidiaries are first tier lenders. But with regulatory headwinds and the oil price slump hurting banks’ profits in recent times, concerns have been raised in some quarters about the real contribution of foreign subsidiaries to lenders’ bottom line. Offshore subsidiaries’ impact on GTBank’s FY2014 result For instance, the issue was raised at Guaranty Trust Bank (GTBank’s) Annual General Meeting (AGM) on March 31st this year. While most shareholders were pleased that the lender posted what industry analysts have described as impressive full year results for 2014 given the tough operating environment, one of them expressed dissatisfaction with the contribution of the bank’s subsidiaries on the continent to its bottom line. According to him, the total sum of about N6billion that GTBank’s African subsidiaries contributed to its earnings last year was inadequate and the management ought to do something about it. Despite regulatory head winds, GTBank reported a Profit Before Tax (PBT) of N116.4 billion in 2014, an increase of 8.7 per cent from the N107.1 billion recorded in 2013. Similarly, Profit After Tax (PAT) rose by 9.6 per cent from N90 billion to N98.7 billion. The bank also grew its gross earnings by 14.8 per cent to N278.5 billion, from N242.7 billion recorded in 2013 while interest income rose by 8.2 per cent from N185.4 billion to N201 billion. It was based on this performance that the directors recommended final dividend of N1.50 per share, thus bringing the total dividend to N1.75 per share as an interim dividend of 25 kobo had previously being paid to shareholders. Obviously, the shareholder who was not happy with the subsidiaries’ performance felt the dividend would have been higher if the off-shore subsidiaries’ contribution had been more significant. Pass mark for subsidiaries However, in his response, the Managing Director /Chief Executive Officer of GTBank, Mr. Segun Agbaje, stressed that the lender’s offshore subsidiaries were doing well. He pointed out that the subsidiaries actually contributed over N7billion to the FY 2014 earnings adding that the bank was confident that the units would continue to positively affect its growth. He said, “Over the years, Africa has emerged as an integral part of the world’s economy and will remain integral for us as well. Our ultimate objective

UBA, CEO, Philip Odouza

GTBank, CEO , Segun Agbaje

is to create a long term franchise value and deliver superior franchise value and deliver superior value to our shareholders… We will continue to deepen our ability to navigate the complexities inherent in the ‘Africa opportunity’ and ensure our operations in Africa remain profitable as we expand our reach to Mozambique and Tanzania in 2015.” Agbaje further noted that the bank’s subsidiary in East Africa was the first Nigeria company to record profit in its first year of operations in that part of the continent. He, however, acknowledged that the lender’s unit in Ivory Coast faced some challenges as a result of the political conditions in that country which impacted its performance last year. As a result, he said that the management had decided to shake up the management in the subsidiary this year. As he put it, “there will be management changes in the course of the year.” Currently, GTBank is present in Cote d’Ivorie, Gambia, Ghana, Liberia, Sierra Leone and in East Africa through its acquisition of a 70 per cent stake in Fina Bank Kenya last year. The move led to it being present in Kenya, Rwanda and Uganda. The bank has also expanded to the United Kingdom.

earnings in 2014 compared to the previous years. The statement quoted the Group Deputy Managing Director/CEO UBA Africa, Mr. Kennedy Uzoka, as saying, “The 2014 full year results of the UBA Group shows that UBA Africa grew its profit by 34 per cent in the year. UBA is gaining critical mass across its target markets and it continues to leverage her innovative products to increase the share of customers’ wallet in the African banking space. “UBA Africa’s earnings are receiving a boost from enhanced service channels, product offerings and customer service with a number of UBA subsidiaries in Africa becoming stand out performers in their respective countries. “We are pleased with the current year performance, which reflects our commitment to deliver value to all stakeholders. We are optimistic on the years ahead and will profitably grow our African subsidiaries by focusing on the viable yet safe sectors of the respective countries.” In addition, the statement quoted the Group Chief Financial Officer, Ugo Nwaghodoh, as saying that, “the performance of our African business was boosted by increased cross selling of our

UBA Africa: Restructured for growth Interestingly, another first tier lender, United Bank for Africa (UBA), also recently announced its FY 2014 results, highlighting the contribution of its significant presence on the continent to the bottom line. According to the bank, its African subsidiaries grew its profit by 34 per cent during the 2014 financial year. It attributed the performance to the recent restructuring of its operations leading to UBA Africa being carved out as a separate business division headed by a Chief Executive Officer. In a statement, the bank said that UBA Africa, comprising the bank’s operations in 18 African countries outside Nigeria, has continued to increase its contribution to the group, recording a higher contribution in the group’s N290billion

We are optimistic on the years ahead and will profitably grow our African subsidiaries

IMF’s observation Furthermore, in its latest Global Financial Stability Report (GFSR) entitled, “Navigating Monetary Policy Challenges and Managing Risks,” the International Monetary Fund (IMF) noted the rapid improvement in Africa’s finance as a result of the strong expansion of pan-African banks across the continent in recent years. The Fund stated that the number of operations of the seven largest business groups in the continent had more than doubled since the mid-2000s, noting that specific factors that contributed to the expansion of the groups include the increasing trade linkages between African countries, which have induced banks to follow their clients. According to the Fund, “Anecdotal evidence suggests that the expansion of these banks has improved competition and given rise to economies of scale, especially in host countries with small local markets. Pan-African banks are driving innovation, offering opportunities to enhance financial inclusion, and in some cases contributing to lowering borrowing costs. “For example, in the East African Community, Kenyan banks have introduced innovative business models such as agency banking into neighbouring countries. Similarly, Moroccan banks’ focus on small and medium enterprise development is being exported to francophone West Africa, while Nigerian banks are expanding their branch networks across their host countries, including in rural areas. African banks have also become lead arrangers for syndicated loans, filling the gap left by European banks,” it added. The IMF also pointed out that from a home country perspective, the geographical expansion of pan-African banks increases diversification and provides further growth and profit opportunities for banks. However, it noted that “as these groups have developed in reach and complexity, significant supervision gaps, governance issues, and questions about cross-border resolution have emerged that could pose risks to national and regional financial stability if unaddressed. “With their rapid expansion, the largest pan-African banks have become systemically important in many of their host countries, raising concerns about spill-over risks. Most groups conduct their foreign operations through subsidiaries, which rely on local deposits for funding, somewhat mitigating potential contagion.

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

Firm acquires supply vessels for Nigerian offshore p.36 FACE-OFF Concessionaires angry with economic regulator over investment Stories by Bayo Akomolafe

he Seaport Terminal Operators Association of Nigeria (STOAN) has urged the Executive Secretary of Nigerian Shippers Council (NSC), Mr. Hassan Bello, to be mindful of his comments against terminal operators at the nation’s seaports.

Maritime Terminal operators caution council boss over derogatory comments The association explained that despite the harsh operating environment under which they operate, its members had invested over $1billion in the acquisition of modern cargo handling equipment, facility upgrade, information and communication technology and manpower training and development over the past nine years.

Customs arrest 56 smugglers over N500m contraband in Owerri

igeria Customs Service (NCS), Zone C in Owerri has arrested 56 smugglers in connection with some contraband valued at N500 million between January and March, 2015. The service’s anti smuggling unit made 140 seizures, consisting of several choice vehicles, bales of expensive clothes and 1,500 cartons of frozen poultry. The Head of Federal Operations Unit (FOU) in Owerri, Comptroller Dimka Victor David, confirmed the seizures. He noted that NSC had put new patrol vans in place to fight smuggling in the South east Dimka said: “The unit recorded a total of 140 seizures with Duty Paid Value (DPV) of N501 million made 56 arrest of suspects and has 56 cases pending in courts in connection with the items seized.” A breakdown gave a breakdown of the seizures showed that 37 seizures were made in January with a DPV of N176.5 million; 40 seizures with a DPV of N136.8 million in February and in 63 seizures in March

with a DPV of N187.9 million. He added: “The service impounded 108 vehicles, three trucks comprising 384 bags of 50 kilogrammes foreign rice, two trucks of 2,126 cartons of imported frozen poultry products, three trucks of 1,181 pieces of used tyres; three trucks containing 780 bales of textile materials; two truckloads of cartons of foreign vegetable oil with other items such as used hand bags, cartons of foreign beverages and 1,755 pieces of imported foot wear. “Specifically, the seizures made in March comprised a total of 51 vehicles, 184 pieces of used tyres, 284 (50kg) bags of foreign rice; 1,755 pieces of used foot wears; 10 cartons of foreign beverages, and a truck load with 1,500 cartons of imported frozen poultry product.” Dimka reiterated the determination of his officers and men to rid the country of the cancer of smuggling. He warned those still trapped in the illegal business of smuggling to desist from the criminal act in their own interest.

...Agents demand 5% of revenue

igerian Licensed Customs Agents (ANLCA) has urged the incoming government to give the association five per cent of the total revenues generated through customs. Its President, Prince Olayiwola Shittu, who made the plea in Lagos, said that freight forwarders should be compensated for their contributions to revenue generation. He added that government should consider giving the customs agents the five per cent commission on duties collected, so that there would be dramatic increase in revenue generation. Shittu said: “Government pays commission to all their agents. They use contractors, they pay all consultants. We are consulting for the Federal Government. That is why revenue generation has been going up.

“We are supposed to be part of it in order to encourage port compliant and commitment. Government should concentrate on maritime industry as alternative to oil revenue because there are a lot of untapped resources in the maritime industry.” Shittu added that the disparity between the few paying duty of 20 per cent for brand new vehicles as against ordinary Nigerians bringing their own at 70 per cent should be reviewed. He advised the government on the establishment of small-scale industries to produce vehicle parts to enhance job creation. The president said: “Our ports should be made more competitive by reviewing all the tariffs in all the spheres within the maritime industry so that diversion of cargo to neighbouring countries would stop.”

In a release, STOAN alleged that Bello was deliberately or unwittingly scaring away investors and port users from patronising Nigerian ports through unsubstantiated assertions on port charges. The association said that the executive secretary’s comments, which were published and read worldwide, portrayed Nigerian ports in negative light to the international shipping community. Its spokesman, Mr. Bolaji Akinola, noted that Bello had been deliberately making false and derogatory statements against terminal operators to the media with the aim of damaging their reputation. He noted: “He has also been creating division and tension

in the maritime industry as he has consistently tried to incite one group against the other thereby risking possible labour unrest and disruption of services in the sector. “When someone in his position makes such utterances, the international shipping community reacts and vessels which plan to come to Nigeria will either come at a premium or go elsewhere. These comments also scare away the much-needed foreign direct investment in the maritime sector. “Such comments are not only baseless and unpatriotic but unbecoming of a senior public official. “Our modest achievements and system-oriented operations

within a relatively short time have been identified to be unfavourable to those who would have preferred a business-asusual disorderly environment. “Without a doubt, terminal operators have added much value to our ports and to the Nigerian economy in recent times.” Akinola alleged that various attacks and unfounded allegations being peddled around about excessive charges and rent seeking behaviour by operators was a figment of the imagination of the council. He stressed that it was a calculated attempt to discredit private operators who were committed under their concession agreements to the positive repositioning of Nigerian ports.

Platform supply vessel

Council urges govt to reposition maritime

he Port Consultative Council (PCC) has urged the incoming government to reposition the maritime sector to make it more competitive. Its Chairman, Chief Kunle Folarin, said that the maritime sector could grow the nation’s economy. He advised government to grow the economy from maritime contribution and re-engineer the whole sector to be competitive in the region. He said: “Government should make sure that all the potential and the reforms that have been carried out over the years within the maritime sector, in particular are optimised. “The maritime sector should be the apex contributor to the economy. The

programmes and the projects that will deliver on this particular expectation are there. So we will write the government to give priority attention as has been given to the oil and gas sector to the maritime sector.” He added that a competitive maritime sector would offer job opportunities and create wealth for Nigerians. Folarin explained that the new government could achieve so much if it focused more on the sector. The Chairman urged the newly-elected National Assembly members to treat all maritime bills in order to give the industry a leverage. He said that the National Assembly should deliberate on all the outstanding bills, adding that issues raised

in the maritime industry would not be actualised without the enabling laws. Folarin stressd that the Ports and Harbour Bill had been with the National Assembly for the past five years. He added: “The issue of regulator to be appointed and enacted into the law is still there. The whole review of Nigerian Maritime Administration and Safety Agency) Act and that of Inland Waterways Authority (NIWA) are still within the National Assembly. “The National Assembly must wake up and address these issues very urgently. As a country, we are losing. We are losing in terms of the potential of the sector who can do the right when there is enabling law.”

Business | Maritime

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Firm acquires supply vessels for Nigerian offshore FINANCE Bank supports firm to purchase vessels Stories by Bayo Akomolafe

n investment firm, L.A.T Cleveson (LATC), has signed an order with Damen Shipyards Group for the supply of two PSV 3300 Platform Supply Vessels (PSV) and two FCS 5009 Fast

Supplier Vessels (FSV). The vessels were financed by Fidelity Bank Plc, a bank with a dynamic transport & shipping division. It was revealed that vessels servicing the offshore industry in the country,were substantially older than those operating elsewhere in the world. The company said that Platform Supply Vessels and Fast Suppliers Vessels would have the full support of the Damen Service Hub in Port Harcourt, as

well as the Damen Regional Office in Lagos. This landmark transaction will bring next generation Damen PSVs to the offshore industry of Nigeria and the Gulf of Guinea for the first time. The purchase is being made by LATC Marine Limited, a subsidiary of L.A.T Cleveson, which has quickly established a positive reputation by providing state of the art marine vessel supply and offshore operation support services to leading oil & gas operators in Nigeria.

The company’s aim is to set new standards in the West African offshore oil sector through acquiring modern and technologically advanced assets to serve international and local clients operating in the region. The Chief Operating Officer of the company, Mr. Gbolahan Shaba, explained that the company’s aim was to redefine the concept of quality tonnage in the Gulf of Guinea and Nigeria. He said: “We plan to locally develop the necessary

skill sets that will sustain our quality service to the most demanding clientele who run very complex operations in the most challenging environments. “Our strategy is to attain the capacity to build and maintain quality tonnage in Nigeria. We anticipate strong demand for repair and docking services in our region and we plan to create the facilities to meet that demand, professionally and safely.” Also, the Fidelity Bank’s Head of Transport & Shipping division, Mr.

Mike Nnaji, noted that the agreement and acquisition of the vessels further marked the bank’s support toward professional development of offshore oil and gas marine support in Nigeria within the local content framework. He added: “The quality of the assets speaks for itself and the professional management is evident from the positive reaction of the oil and gas companies whose operation they already support and will be supporting. These vessels will show the value and effectiveness of assets that are built to United Kingdom North Sea standards which are efficient, environmentally-friendly and economic to operate.” He said that bank would continue to stimulate and support the development in line with the Federal Government’s local content initiative.

Customs generate N51.3bn from Lagos, Tincan ports

igeria Customs Service (NCS) has generated N51.3 billion from the Lagos Port Complex and Tincan Island Port in March, 2015. Its Area 1 Command in Apapa Port recorded N32.8 billion while the Tincan Island Command of the service generated N20.9 billion However, the two major Customs commands recorded about N8 billion less than its monthly revenue target in the months of January and February when importers were reluctant to bring their consignments to the country. It was learnt that importers and customs agents were apprehensive of a possible electoral violence and had to put on hold their imports. But they returned to business after President Goodluck Jonathan conceded defeat during the March 28 presidential poll. In March, the Public Relations Officer of the Apapa Area1 Command of NCS, Mr. Emmanuel Ekpa, said that the service recorded the sum of N32.8 billion. The command had, however, recorded about N21 billion each in the months of January and February. In Tin Can Island Port, NCS recorded N20.9 billion, N19.3 billion and N21.5 billion for January, February and March respectively.

Business | Perspective

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

How 2015 budget affects Nigerians A s plausible and pleasant as the 2015 budget may appear, as many analysts have claimed, we really need to understand its essentials and practical justification. Unfortunately, when the oil prices benchmark were reviewed downward, nothing else in the budget changes, neither the revenue nor any part of the expenditure heads were affected, despite the fact that oil revenue formed about 70 per cent of government revenues and it also puzzled me to question whether the number actually adds up. The Finance Minister, Dr Okonjo Iweala, in one of her interviews with the media, unwavering in her statement that, even if oil prices dropped to $45 a barrel, the provisions in the budget, oil price benchmark would not chang. But unfortunately, that is not the case at the moment. This further buttress the fact that our appropriation model is based on assumptions and unhealthy predictions that may affect the fiscal policies.

2015 budget From the 2015 budget presented to the Senate, it was revealed that N3.97 trillion is for recurrent expenditure; this is the amount needed to keep the government doors open for work. The recurrent expenditure represent a whopping 91 per cent of the entire budget. This allocation is bizarre. It then turns out to mean that the public servants, especially the senators and their other political cabals, are not in any way affected by the proposed austerity. Non-public officials’ wellbeing or welfare are never represented in recurrent expenditure. In fact, the austerity will cause more harm than good if meager proportion of nine per cent is allocated to capital expenditure. Our government policies have always been without functional conjectures with little or no effect on the common man. To woo investors to Nigeria, we need infrastructural facilities, utilities and other developmental specs that will make an investment thrive in a country like ours and it’s so paradoxical, as usual, that government allocates just nine per cent of the budget to such an invaluable projects. Since different loopholes have been identified for closure, I could confirm that none of the closures will affect those in the corridor of power, but, innocent citizens. It appears to me, though, that, with an existing poverty level of about 65 per cent, year 2015 will force some innocent people into that circle due to the austerity measure. The only share of ordinary citizens in a country’s budget is when their wellbeing are positively affected by construction of new roads, this reduces auto accidents and when utilities are provided and affordable. The only portion of the budget that keep people happy is the capital expenditure. In fact, expenditure on capital projects are slashed from 24 per cent of the total expenditure in 2014 to nine per cent in 2015 while recurrent increased from 76 per cent in 2014 to 91 per cent in 2015. Is it not the time for the government officials sacrifice portion of their salary for the country they refer dear to them? Despite cut in trainings and other budgetary allocations to the ministry, department and agencies (MDAs), the rise in expenditure by 11.05 per cent is an indication that real austerity would not affect the MDAs. Every country ensures the citizens receive and enjoy the benefit of every dollar in taxes but Nigeria is not the case. Our politicians enrich and amass wealth to themselves when they, in fact, need to give back to the country.

mouth piece of development. Therefore, that sector is not all that matter as many experts and analyst will claimed. It’s time to tax the rich: The current austerity measure is less desirable and unnecessary. The rich will get richer at the poor’s expense. The effect has started biting hard on the poor in form of inflation; the purchasing power of the consumers has greatly decline and there is no evidence that there will be compensation for the decline. The current austerity measure has, however, changed the psycho-financial framework of good Nigerian people; the poor are becoming more frugal while the rich, not excluding top government officials and politicians, are becoming prodigious. The uneducated and semiliterate are apportioning blames as if it is their fault that they find themselves in the current situation. This is the time for the rich to start paying high taxes. Government should raise taxes on specific classes of household whose annual income is above a particular threshold that government will set. These people has a plethora of resources they can give away at this difficult time

Okonjo-Iweala

Another enigma to 2015 budget is the total budget of N4.356 trillion. This amount is equivalent to 2015 Florida State’s budget on education sector alone. Florida State is one of the Fifty States in the United States. The state has, according to 2014 census, twenty million people, a population less than Lagos State. Yet, Florida State do not have oil or endowed with natural resources, but it was able to create an ambience of happiness where people enjoy public expenditures. We have the human and the natural resources and yet we are poor. Nigeria has the fifth largest population and the seventh largest oil producer in the world but we have nothing to show for it. So, it amuses me when people just look at the numbers and figures in the budget without adequate consideration of the impact but decide to make judgment of the good and bad; no justification of how the budget is perceived to be better. Foreign exchange With the reduction in oil revenues, which constitutes about 90 per cent of the foreign exchange earnings, Nigeria’s economic future will be determined by the reality of how long the fall will last. Exchange rate, as mentioned earlier, has been reviewed from $165 to $190 per dollar. There is huge pressure on naira against dollar and the government has to balance its budget because slashed in oil price benchmark from $65 to $52 is still not reliable when compared to average current price of $51 this year alone. Presently, the number of investors holding nigerian bonds in naira has dropped significantly owing to the difficulty of selling off Naira dominated assets and consistent weakening of our currency. Naira has depreciated more than 20 per cent since the beginning of the decline in oil prices. Moreover, the wave of intervention of Central Bank of Nigeria (CBN) in stabilising the foreign exchange has sent a signal to investors and the regulations may trigger the country removal from Emerging Market (EM) bond indices, although we need to wait till June before JP Morgan Chase decision to remove Nigeria from EM is finally made. When things improves after the election, Nigeria may escape the deletion. When the oil price has settles around $35 per barrel and cut in fiscal

spending looms, the only option that is open to monetary authority in stimulating economic growth is to continue devaluing naira against the Dollar and other currencies in the world. Financial crises arising from currency devaluation will spark off currency war. Currency war occurs when the only available option available to the Central Bank is to devalue currency to compete for investors. Presently, Nigerian bonds is not that attractive to investors and the naira are not important for competition in International market therefore, Nigeria competiveness outlook is weak when currency war arises. Engaging in currency war will, in fact, put us in a very worst situations with no economic stamina to face the consequences. Recommendations  Agriculture is good but not sufficient. Tide has changed, we need to understand how the world operates and take advantage of technologies and other means of creating wealth innovatively. It starts from our universities. What type of graduates do we turn out every year? We should shift attention away from the belief that only resuscitation of agricultural products will help return Nigeria’s glory. It should be noted that while agric sector might be important when Nigeria’s population has not grown out of proportion and the world has not metamorphosed to a technology

The only portion of the budget that keep people happy is the capital expenditure

Centralised data generations (CDG): Data generation for estimating macroeconomic indices are higly questionable. Do we have a model that estimate all the statistics that are roll out monthly in the statistical bulleting? Data on census, inflation and other monthly and yearly statistics reported in our bulleting are all grossly understated, thus, does not truly capture the real situation of the economy, which is why none of the data has affected an ordinary pets, let alone the economy. Our government should make things easy for the analysis sake by deploying data capturing devices that should be made available in stores, banks, shopping malls, public and private institutions. There are numerous software that can be centrally deployed to capture data gathering and generations. When you have the data, you could trace and measure agents’ activities over time and be able to predict and estimate, at a reasonable level of accuracy, the economic activities. Research in universities: Development of any country hinges on universities’ potentials for conducting cutting edge research. Universities also serve as a conduit pipe for communicating research to the outside world. How many start-up research has been commercialised in our universities? Yearin-year-out, lecturers will go on strike for different reasons; either government is tasked to provide more funding to the university or demand for pay rise. Nigeria is the only country where the universities are restricted to craft theories without application. If this is not the case, how many private grants do our universities receive in a year? How would they get a grant when there is nothing to show for the past ones? Of course, no company will go that route when they know that such decisions will lead to a sinking fund-for-investors. Our universities should not depend only on the Federal Government funding, but other avenues that can be explored to raise fund should be sourced. Start-up research should be licensed and commercialised, but I am sure none is available at the moment. I am calling for concerted effort of all stakeholders to help save our universities from its deplorable state. Emmanuel Omotayo Akande eakande@capeeconomicconsult.com

WEDNESday, APRIL 15, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

L-R: Enugu State Governor-elect, Mr. Ifeanyi Ugwuanyi; Executive Chairman, Enugu Sports Club, Chief Obum Arum and Vice Chairman, Chief Ben Etiaba, during Ugwuanyiâ&#x20AC;&#x2122;s visit to the Sports Club in Enugu.

Photo | News 39

L-R: Winner, Akoko North-West House of Assembly, Ondo State, Hon. Araoyinbo Olugbenga; Peoples Democratic Party (PDP) Deputy Chairman, Fatai Adams and Governor Olusegun Mimiko, at the presentation of Olugbenga to Mimiko in Akure.

L-R: Independent National Electoral Commission (INEC) Resident Electoral Commissioner, Nasir Ayilara; Returning Officer, Prof. Abdulganiyu Ambali and Niger State Police Commissioner, Mr. Emmanuel Amore, during the announcement of Alhaji Abubakar Sani Bello, of the APC the winner of Niger State governorship election in Minna. PHOTO: DAN ATORI A cross-section of members of the #BringBackOurGirls (BBOG) group protesting over the abducted Chibok school girls, who have been in captivity for a year in Abuja.

L-R: Corps Marshal of the Federal Road Safety Corps (FRSC), Boboye Oyeyemi; Managing Director, Trustfund Pensions, Mrs. Helen Da-Souza and Executive Director, Mr. Nasir Musa, at the presentation of a branded reflective jacket as part of the FRSC Corporate Social Responsibility initiative in Abuja. PHOTO-NAN

Plateau State Governor-elect, Mr. Simon Lalong (left), with his deputy, Prof. Sonnie Tyoden, at their declaration in Jos.

Bauchi State All Progressives Congress (APC) supporters celebrating the victory of the partyâ&#x20AC;&#x2122;s governorship candidate, Alhaji Bello Abubakar, in the election. PHOTO-NAN

Nigerians verifying results of governorship and State Houses of Assembly elections at a newspaper stand in Lagos. PHOTO: GODWIN IREKHE

40 Politics

igeria’s relatively peaceful elections have set the bar high for a string of votes this year across West Africa, though tensions in Guinea remain a concern, the United Nations’ top regional official said. Last month Muhammadu Buhari ousted an incumbent president democratically for the first time in Nigeria, Africa’s biggest economy and most populous country. The results of Nigeria’s governor elections also showed a swing toward Buhari’s party on Monday.

WEDNESDAY, April 15, 2015 NEW TELEGRAPH

Nigeria’s elections raise hope of peaceful West African polls Guinea, Togo, Ivory Coast and Burkina Faso – all with a history of political violence or rocky transitions – are also due to hold presidential elections in 2015. Mohamed Ibn Chambas, U.N. Special Representative for West Africa, said the key

lessons from Nigeria’s vote were a strong electoral commission, pressure from both citizens and Western observers and the willingness of President Goodluck Jonathan to concede defeat. “This sets a positive example by pointing to what is possible: even a

huge country like that, with all the challenges we associate with Nigeria, can deliver credible elections,” Chambas, who helped monitor the Nigerian polls, told Reuters in a weekend interview. Chambas said he felt “more assured” about an April 25 election in

Togo, where President Faure Gnassingbe is seeking a third term amid opposition parties’ complaints that he has reneged on a promise to introduce a constitutional term limit. A group of Frenchspeaking nations, the OIF, helped broker an end to a dispute over

voter rolls that forced a delay in the election in the tiny former French colony. Chambas said he also did not foresee difficulties in Ivory Coast, where President Alassane Ouattara is tipped to win an October poll. Former President Laurent Gbagbo’s refusal to accept defeat in a 2010 election plunged the country into a brief civil war that killed some 3,000 people. But he expressed concern about a “dangerous cleavage” in Guinea, which has split politics along ethnic lines. He urged politicians there to “find ways to build coalitions across the ethnic divide” ahead of its October election. Clashes mar red Guinea’s first democratic presidential election in 2010. On Monday at least two people were wounded by gunfire during opposition protests against the government’s electoral timetable. Guinea is also still fighting an Ebola epidemic more than a year after it was declared and appears to be making slower progress than neighbors Liberia and Sierra Leone. “To see the rise in tension and further political crisis is frankly worrying,” Chambas said. “They need to develop a culture of national dialogue, especially as they confront a deadly disease such as Ebola.” Some diplomats have also raised concern about a power transition in Burkina Faso, which plans elections in October, a year after its long-running leader Blaise Compaore was ousted by protesters outraged at a bid to extend his mandate. Last week Burkina Faso changed its electoral code to bar Compaore’s political allies from seeking office, prompting them to suspend their participation in transitional institutions. Asked about the transition, however, Chambas said: “So far, so good. There are challenges but the international community is there.” Culled from Reuters

Politics 41

NEW TELEGRAPH WEDNESDAY, April 15, 2015

We’ll stop Boko Haram, says Buhari President-elect, General Muhammadu Buhari, in this article published in April 14th edition of New York Times writes on how he plans to tackle Boko Haram

hen Boko Haram attacked a school in the town of Chibok, in northeastern Nigeria, kidnapping more than 200 girls, on the night of April 14, 2014, the people of my country were aghast. Across the world, millions of people joined them in asking: How was it possible for this terrorist group to act with such impunity? It took nearly two weeks before the government even commented on the crime. This lack of reaction was symptomatic of why the administration of President Goodluck Jonathan was swept aside last month – the first time an incumbent president has been successfully voted out of office in the history of our nation. For too long they ruled, not governed, and in doing so had become so focused on their own self-interest and embroiled in corruption that the duty to react to the anguish suffered by their citizens had become alien to them. My administration, which will take office on May 29, will act differently – indeed it is the very reason we have been elected. This must begin with honesty as to whether the Chibok girls can be rescued. Currently their whereabouts remain unknown. We do not know the state of their health or welfare, or whether they are even still together or alive. As much as I wish to, I cannot promise that we can find them: to do so would be to offer unfounded hope, only to compound the grief if, later, we find we cannot match such expectation. But I say to ev-

Abducted Chibok schoolgirls

Buhari

ery parent, family member and friend of the children that my government will do everything in its power to bring them home. What I can pledge, with absolute certainty, is that from the first day of my administration, Boko Haram will know the strength of our collective will and commitment to rid this nation of terror, and bring back peace and normalcy to all the affected areas. Until now, Nigeria has been wanting in its response to their threat: With

Boko Haram will know the strength of our collective will and commitment to rid this nation of terror

our neighbours fighting hard to push the terrorists south and out of their countries, our military was not sufficiently supported or equipped to push north. As a consequence, the outgoing government’s lack of determination was an accidental enabler of the group, allowing them to operate with impunity in Nigerian territory. That is why the answer to defeating Boko Haram begins and ends with Nigeria. That is not to say that allies cannot help us. My

administration would welcome the resumption of a military training agreement with the United States, which was halted during the previous administration. We must, of course, have better coordination with the military campaigns our African allies, like Chad and Niger, are waging in the struggle against Boko Haram. But, in the end, the answer to this threat must come from within Nigeria. We must start by deploying more troops to the front and away from civilian areas in central and southern Nigeria where for too long they have been used by successive governments to quell dissent. We must work closer with our neighbours in coordinating our military efforts so an offensive by one army does not see their country’s lands rid of Boko Haram only to push it across the border onto their neighbours’ territory. But as our military pushes Boko Haram back, as it will, we must be ready to focus on what else must be done to counter the terrorists. We must address why it is that young people join Boko Haram. There are many reasons why vulnerable young people join militant groups, but among them are poverty and ignorance. Indeed Boko Haram — which translates in English, roughly, as “Western Education Is Sinful” — preys on the perverted belief that the opportunities that education brings are sinful. If you are starving and young, and in search of answers as to why your life is so difficult, fundamentalism can be alluring. We know this for a fact because former members of Boko Haram have admitted it: They offer impressionable young people money and the promise of food, while the group’s mentors twist their minds with fanaticism. So we must be ready to offer the parts of our country affected by this group an alternative. Boosting education will be a direct counterbalance to Boko Haram’s appeal. In particular we must educate more young girls, ensuring they will grow up to be empowered through learning to play their full part as citizens of Nigeria and pull themselves up and out of poverty. Indeed, we owe it to the schoolgirls of Chibok to provide as best an education as possible for their fellow young citizens. Boko Haram feeds off despair. It feeds off a lack of hope that things can improve. By attacking a site of learning, and kidnapping more than 200 schoolgirls, it sought to strike at the very place where hope for the future is nurtured, and the promise of a better Nigeria. It is our intention to show Boko Haram that it will not succeed. My government will first act to defeat it militarily and then ensure that we provide the very education it despises to help our people help themselves. Boko Haram will soon learn that, as Nelson Mandela said, “Education is the most powerful weapon which you can use to change the world.”

42 Politics C O N T I N U E D F R O M PA G E 1 6

The Court of Appeal on February 16, this year, unanimously dismissed APC’s appeal and upheld Fayose’s victory. APC’s contention The APC, through the State Publicity Secretary, Taiwo Olatubosun, stated the resolve of the party to take the matter to the apex court in the land, the Supreme Court. He said that the party succeeded at the Court of Appeal in proving that Fayose was legally impeached in 2006. He stressed, however, that the party would appeal the judgement at the Supreme Court, as there were other issues that should have been addressed by the judgement. “The judgment has vindicated us on our complaint that it is illegal for the ruling party to deploy troops to intimidate the opponents during election to influence victory for its candidates because this is a clear infringement on the Constitution of the Federal Republic of Nigeria on the use of the military. “The recent audio leak about how the election was rigged by PDP chieftains, including the present beneficiary who used the army to terrorise innocent Ekiti citizens, has further lent credence to our petition that the election was neither free nor fair. “We are also vindicated that Fayose was legally impeached in 2006. As observed in the judgement, it is now left for the National Assembly to look into the nation’s law whether it is right and lawful to allow a man that is impeached over gross misconduct, public funds embezzlement and violation of the constitution to re-contest the position he had earlier lost over such constitutional breaches,” Olatubosun said. He added, however, that other issues that were not addressed by the Appeal Court in the judgement would be trashed out at the Supreme Court. The judgement When the apex court fixed April 14 for the judgement on the tussle, it was with apprehension that the people of the state and parties to the matter awaited the judgement. This was not farfetched. Few days earlier, Fayose had been on the battlefield against 19 APC lawmakers in the Assembly who moved to impeach him from

WEDNESDAY, April 15, 2015 NEW TELEGRAPH

Fayose: Cat with nine lives

Fayemi

Fayose

office. The tension generated by the development led to the deployment of troops in the state. In his judgement, the Supreme Court affirmed the decision of the tribunal which had earlier upheld Fayose’s election. The appellant had raised 17 grounds of appeal bothering on the fact that the lower court erred to have dismissed its appeal. The APC hinged its appeal on ground that Fayose was not qualified to contest in the election having been impeached on grounds of embezzlement. The appellant also alleged that Fayose submitted a forged HND certificate from The Polytechnic, Ibadan to the Independent National Electoral Commission (INEC). The appellant also argued that the tribunal erred by striking out the names of Inspector General of Police and Chief of Army Staff as parties in the suit. Delivering judgement, Justice Sylvester Ngwuta held that the Tribunal was right to have struck out the names of the IGP and COA as parties in the suit. He noted that a party to a suit is one whose interest is in dispute or whose suit cannot be decided without him. The court, however, noted that both the IGP and COA had no

The appeal is hereby dismissed for lacking in merit. The judgement of the court below is hereby upheld

interest in the election in Ekiti State and going by the provision of Electoral Act as to who constitute a party to an election petition, the IGP and COA did not fall into such category as they were not staff of INEC. “Appellant did not show that the IGP and COA have special interest in the election in Ekiti State. It did not even show that they are indigenes of Ekiti State. None of them falls under the category of who can bring a petition to the tribunal as provided by the Electoral Act. Any group outside the officers not employed in the election does so on their own and they can not answer for their conduct. “IGP and COA at all material time are not staff of INEC, they are not parties to the election in Ekiti State. Assuming they are parties, the relief sought against them is not as to cancellation of the election, it does not therefore make sense to join them,” the court held. On the issue of impeachment, the court held that the ground raised by the appellant was not part of the provision of the Electoral Act as to disqualify a governorship aspirant. The court further cited S182 (1)(e) of the 1999 Constitution which provides

qualification for a governorship aspirant. “A conviction and sentence are the major issues here. The code of conduct is not an impeachment panel. Jurisdiction cannot be shared between Code of Conduct Tribunal and impeachment panel. Even though, it was alleged that the governor was impeached for embezzlement, he was not arraigned before a court of competent jurisdiction”, the court held. The court also noted that the first impeachment panel gave Fayose a clean bill. He also noted that the second panel constituted was unconstitutional because the judge that constituted it did not have the power to do so. The court also held that the Ekiti State House of Assembly did not substantiate the petition and hence one cannot say that he committed any crime. Citing S188 of the Constitution, the court held that the second panel was an unconstitutional panel and that its proceeding was an exercise in futility. The court, however, resolved the issue against the appellant. On the issue of forgery, the court held that it is an offence that should be proved beyond reasonable doubt. “To prove forgery, the original document must be produced and also the forged document. In this case, only one document was produced. Appellant was not even certain that the other name it alleged existed. A person impersonated must have been brought into the case. “The appellant here has failed to prove the case of forgery beyond reasonable doubt and more so the principle of Estopel has caught up with the issue as the matter had once been decided once and hence cannot be litigated over again. The court also resolved the issue against the appellant. “In the final analysis, the appeal is hereby dismissed for lacking in merit. The judgement of the court below is hereby upheld,” the court held. A jubilant Fayose went round Ado-Ekiti to celebrate the latest battle won. But the question is, how far will his luck take him? This is because, he may still have many rivers to cross.

MD Yusuf: A guardian angel just departed Nigeria Oluremi Obasanjo

he death of Alhaji Mohammed Dikko Yusuf on the first day of this month should have been a silly April Fool’s day prank for me. But alas it wasn’t. For many, the death of MD would have been another attestation of the mortality of man. But to me, MD Yusuf was not just another man who had attained high position of governance in Nigeria. In the time of the most difficult personal challenges that came my way in the seventies, MD sprung up around my children and I like a guardian angel. There were few one could run to

who could provide a bulwark against the torments of the heart and body that became my lot in the midst of the abuses I suffered in the seventies when he was Nigeria’s top policeman. As the Inspector General of Police, he worked with then Head of State, General Murtala Muhammed to provide succour to us because it was the right thing to do. MD’s gallant defence of my emotional and human rights was to be further displayed to the surprise of most Nigerians in the 90s when he defied all odds to stand against the political aspirations of the military rulers when he stood for the presidential elections.

Many Nigerians at that time would have asked where MD got his spirit of boldness from? Till today, I still wonder from where this former Police boss got his unusual boldness. I really cannot know. All I can recall now is the recoil and cringe that I saw in him at the first sight of injustice to men and women of all tribes and religions. At the height of the domestic violence and persecution I suffered, I regularly saw those cringes as he responded to alleviate our devastating situation. His words and acts of encouragement easily dismissed the assumption that some in my position would have believed that all men who attain power abuse it.

MD Yusuf was there for us at the critical time in my life when justice and due process needed to be applied and not power and opportunity. I hope his family are comforted in the legacy of good works he left behind as a kind hearted and truly detribalized Nigerian. He was a blessing to me and I am sure to many others he came across. His loss to Nigeria is unquantifiable. Heaven has indeed gained an angel while earth has lost a sweet soul. May his soul rest in peace. •Oluremi is the wife of former President Olusegun Obasanjo

Politics 43

NEW TELEGRAPH WEDNESDAY, April 15, 2015

Amosun clips Osoba’s wings

Amosun CONTINUED FROM PAGE 13

Abeokuta, Osoba hinted at the possibility of dumping the APC when he told his loyalists and supporters that “you people are a moving vehicle and we have dropped the traitors and the betrayers.” “The fight is a political fight. Some people said we should go to court. I said this is not a judicial issue, it is political. If they (Amosun and his loyalists) are greater than us, let’s wait till the elections. We shall wait for them at the poll,” the former governor boasted. Various interventions to resolve the feud between Amosun and Osoba yielded no results. On the long run, the governor succeeded in wooing and winning over some of the associates of his estranged godfather. Amosun also infiltrated the PDP, and coupled with the support of former President Olusegun Obasanjo, he built a formidable, broad-based APC that went on to record sweeping victory at the elections. As the realignment of political forces intensified in the state, Osoba and his supporters pitched tent with the SDP. There were speculations initially that the Osoba group planned to defect to the PDP following reported pressure by the Presidency and certain political top shots. But the PDP option was turned down because it was considered “a conservative party.” The options of defecting to either the Labour Party (LP) or Unity Party of Nigeria (UPN) as well as floating a new political party were also considered. But Osoba and the loyalists later settled for SDP. The SDP was the platform on which the acclaimed winner of the annulled June 12, 1993 presidential election, Chief MKO Abiola, contested. After the election, the General Ibrahim Babangida regime proscribed the SDP as well as the National Republican Convention (NRC) which also featured at the poll. But in the build-up to 2015, SDP has been revived and reregistered with the Independent

Odunsi

National Electoral Commission (INEC). An Afenifere chieftain and former Minister of Finance, Chief Olu Falae, is the national chairman of the party. While the SDP further widened the gulf between loyalists of Amosun and Osoba, the party’s emergence was expected to pose serious threat to the APC’s bid to retain power just like the formation of Peoples Party of Nigeria (PPN) scuttled the chances of Ogun PDP in 2011 elections. The March 28 Presidential and National Assembly elections provided the opportunity for SDP to test its strength. However, the party suffered excruciating defeat as all its candidates, including serving lawmakers, failed at the election. They lost to their counterparts from either the APC or PDP. For example, in Ogun Central Senatorial District, SDP’s Obadara polled 15,424 votes as against the 115,197 votes won by Prince Lanre Tejuoso of APC and 30,036 votes scored by Dr. Abisola Sodipo-Clark of PDP. In the results of Ogun East Senatorial District, SDP’s Kaka garnered 12,972 votes as against 99,540 votes of Prince Buruji Kashamu and 84,001 votes polled by Dapo Abiodun of the APC. The SDP senatorial candidate for Ogun West, Biyi Otegbeye, polled 27,336 votes. This was against the 83,932 votes polled by Prince Gbolahan Dada of the APC and 54,898 votes scored by Waliu Taiwo of the PDP. Thus, the development prompted apprehension that the SDP may not go far in the subsequent governorship election. It was proposed that a merger or alliance with a stronger opposition party was expedient for SDP. But the SDP governorship candidate, Senator Akin Odunsi, ruled out any form of merger or alliance with any political party for the governorship election in the state. Addressing a press conference in Abeokuta shortly before the April 11 gubernatorial and House of Assembly elections,

Kaka

When the governorship and House of Assembly elections eventually held, the SDP again performed poorly. Not only did the party fail to win a single seat in the 26-member state legislature...

Odunsi insisted that the outcome of the March 28 elections would not have adverse effects on the chances of his party. “We are being approached by several interest groups, political groups, but we as a party have decided that we would not form any alliance. We would not drop our party name. We welcome all those who are willing to work with us. But SDP would run this race to the end,” he added. When the governorship and House of Assembly elections eventually held, the SDP again performed poorly. Not only did the party fail to win a single seat in the 26-member state legislature, the SDP governorship candidate emerged a distant third, polling 25,826 votes. According to the results announced by INEC, the APC candidate, Governor Amosun, polled 306,988 votes to emerge winner of the election. The PDP standard bearer, Prince Gboyega Isiaka, came second with 201,440 votes. Speaking on why the SDP failed, Agemo said the party lost the gubernatorial and House of Assembly election because an opposition party resorted to the use of text and social media messages to confuse its teeming supporters. Addressing a press conference in Abeokuta, the SDP chairman said the opposition party, whose name he did not mention, attempted to destroy its governorship candidate “through SMS, Whatsapp and Facebook on the day of election that he had withdrawn from the race. “This had damaging effect on our members and supporters right at the polling centres,” he stated. Agemo also denied that the state chapter of the SDP collected funds from the Presidency to prosecute the just-concluded elections. He said though “men of goodwill from the Presidency” made contact with the party before the elections, the SDP turned down such assistance because it did not enter the contest for financial gains.

He said: “We say unequivocally that at no point in time did we have anything to do whatsoever materially or otherwise with the Presidency, who made contact with us, got it clear from us that we were not out for financial gains in our effort to ensure equity and fair play. “Our struggle in Ogun State was not based on financial gains. None of those delegations at the highest level can say that any financial transaction transpired between us. We thank the powerful delegation from the Presidency for appreciating that our disagreement is within the progressive family. The SDP in Ogun State was self-funding throughout the campaign and elections.” While applauding the contributions of Osoba to the sustenance of the party, Agemo said: “We thank God for his (Osoba) good health that enabled him (to) lead us to not less than 300 campaign spots in towns and villages across the 236 wards of Ogun State within a period of two months. “When we requested him to help in fighting the injustice that we suffered, up to the point of nomination for election that the national body of APC could not resolve, he unequivocally accepted. What impressed us most was his uncommon pronouncement to us that he would lead us on the condition that we would not in any circumstance request him to seek or accept any political office ever.” No doubt, the outcome of the election was a massive setback, if not a death knell, for Osoba’s political career which spanned decades. Since the election results were released, the former governor has not made any public comment. But political watchers have started pondering on what his next move could be. Will he eat the humble pie and return to the APC which would form government at the centre from May 29 or stick to SDP? That is the poser that only the fullness of time would ultimately reveal.

Business | Money Line

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

2bn adults unbanked, says World Bank WORRISOME

700 million people became account holders between 2011 and 2014 Ayodele Aminu

Washington D.C.

he number of “unbanked” individuals dropped 20 per-

cent to 2 billion adults, the World Bank said yesterday. The global bank disclosed this in its new report at the ongoing Spring Meetings of The World Bank and International Monetary Fund (IMF) in Washington D.C. It however, noted :” Between 2011 and 2014, 700 million people became account holders at banks, other financial institutions, or mobile money

service providers.” “Access to financial services can serve as a bridge out of poverty. We have set a hugely ambitious goal - universal financial access by 2020 - and now we have evidence that we’re making major progress,” said World Bank Group President Jim Yong Kim. “This effort will require many partners - credit card companies, banks, microcredit institutions, the United Nations, foun-

dations, and community leaders. But we can do it, and the payoff will be millions of people lifted out of poverty.” Between 2011 and 2014, the percentage of adults with an account increased from 51 percent to 62 percent, a trend driven by a 13 percentage point rise in account ownership in developing countries and the role of technology, the report noted. “ In particular, mobile

CBN pegs debit card spending limit abroad at $50,000 Tony Chukwunyem

he Central Bank of Nigeria (CBN) has reduced the limit on the usage of naira denominated cards for transactions overseas from $150,000 to $50,000 per person per annum. It also directed authorised dealers to ensure that the daily cash withdrawal limit embedded in the cards per person, per day is pegged at $300. In a circular, entitled, “Usage of Naira denominated cards overseas’’ signed by the Director, Trade & Exchange Department, Olakanmi Gbadamosi, and addressed to authorised dealers

and the general public, posted on its website yesterday, the apex bank further warned authorised dealers to ensure strict compliance with the new limit which it said came into effect on April 13, 2015. According to the CBN, “Further to the circular of September 26, 2013, all authorised dealers are hereby informed that with effect from the date of this circular, (13th April), the existing limit in then usage of the naira denominated cards for transactions overseas has been reviewed downward. “Accordingly, the limit has been reduced

from $150,000 to $50,000 per person per annum. In addition, authorised dealers are to ensure that the daily cash withdrawal limit embedded in the cards per person, per day is pegged at $300.” The regulator directed authorised dealers to ensure compliance with the new limit and render monthly returns of the transactions to it. The Bankers’ Committee at its in meeting in Lagos last week had hinted at the new limit attributing it to the need for the CBN to furthercrackdown on dollar demand save dwindling external reserves.

Chief Executive Officer (CEO) of Union Bank of Nigeria Plc (UBN) Emeka Emuwa, who disclosed this, said there’s been some arbitraging going on, “though card transactions were carried out in naira, offshore vendors had to be settled in dollars.” The CBN had last November devalued the naira and pegged the exchange rate in February in order to curb speculation on the currency and save its dwindling foreign reserves. The reserves have fallen 22 per cent to $29.6 billion as at April 7, from a year ago.

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

N16,833,244.57 N16,509,472.5m 8.2 0.0000 13 10.899 7.96 17.01 US$61.39 US$29,514,719,127

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 13/4/2015 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

Overnight rate hits 90%, nears record high

ver night rate spiked to 90 per cent yesterday, near record highs, up from 60 per cent on Monday, dealers said, two days after the Central Bank of Nigeria (CBN) debited lenders to enforce its Cash Reserve Requirements (CRR). According to Reuters, rates have been rising sharply for two days -- the overnight lending rate stood at 27 per cent on Fri-

Chris Ugwu

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

Money Market Offer 11.85 11.85 11.80

and directly help poor people manage risk and absorb financial shocks. The 2014 Findex found there is still more work to be done to expand financial inclusion among women and the poorest households. More than half of adults in the poorest 40 percent of households in developing countries were still without accounts in 2014. And the gender gap in account ownership is not significantly narrowing: In 2011, 47 percent of women and 54 percent of men had an account; in 2014, 58 percent of women had an account, compared to 65 percent of men. Regionally, the gender gap is largest in South Asia, where 37 percent of women have an account compared to 55 percent of men (an 18 percentage point gap).

day last week, before the central bank withdrew the funds. Rates set a record high of 100 per cent in February. “Everyone scrambling for cash ... liquidity is very tight after the central bank recalled N72 billion,” one dealer said. The open balance with the CBN stood at N26 billion as at Monday, down from around N160 billion last week, traders said.

UBA’s Q1 pre-tax profit rises 36%

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

money accounts in SubSaharan Africa are helping to rapidly expand and scale up access to financial services. Along with these gains, data also show big opportunities for boosting financial inclusion among women and poor people,” it added. The findings come in the latest edition of the Global Findex, the world’s most comprehensive gauge of progress on financial inclusion. Financial inclusion, measured by the Global Findex as having an account that allows adults to store money and make and receive electronic payments, is critical to ending global poverty. Studies according to the World Bank, show that broader access to, and participation in, the financial system can boost job creation, increase investments in education,

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

nited Bank for Africa has reported a 36 per cent growth in pretax profit for the first quarter ended March 31, 2015. According to a notice from the Nigerian Stock Exchange (NSE), its pretax profit for the first quarter rose 36 per cent to N18.38 billion from N13.54 billion recorded the same period last year. Revenue also rose to N83.09 billion in the three months to the end of March against N68.07 billion in the same period a year ago. UBA had reported a 10 per cent in gross earnings for the 2014 full year audited results ended December 31, 2014. The results of the PanAfrican Bank, released on the NSE, showed a 10 per cent growth in gross earnings to N290.019 billion from N264.687 billion in 2013. In other indices, the bank recorded a profit after tax of N47.907 billion

in 2014 from N46.601 billion in 2013 accounting for a growth of three per cent. Earnings received a boost from both Interest and Non-Interest Income showing the bank’s diversified and stable income base. Interest income rose 5.91 per cent to N197 billion in December 2014 from N186 billion in December 2013, while Non-Interest Income rose by 18.17 per cent to N93.3 billion from N79.0 billion. The Group Chief Financial Officer (GCFO), Mr. Ugo Nwaghodoh, expressed optimism that the bank would continue to record a steady and sustained increase in its profitability by leveraging on low cost stable funds as well as rising opportunities in the bank’s target markets in Nigeria and across Africa. “The performance of our African business was boosted by increased cross selling of our products and a number of other strategic initiatives.”

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

FMDQ Daily Quotations List

14-Apr-15

Bonds

FGN Bonds Issuer

Rating/Agency

TOTAL OUTSTANDING VALUE

Description 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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

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 54.00 600.00 499.68 75.00 150.00 200.00 591.57 254.50

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

0.02 1.34 2.04 2.29 2.38 3.13 4.21 4.53 4.83 6.79 8.92 13.62 14.10 14.60 15.27 19.26

12.59 14.55 14.52 14.51 14.51 14.50 14.50 14.49 14.47 14.43 14.41 18.08 18.69 19.42 16.26 15.08

Bid Price

Offer Price

6.61 14.42 14.43 14.43 14.43 14.37 14.41 14.38 14.39 14.37 14.35 18.01 18.61 19.31 16.18 15.02

99.78 98.18 100.98 91.15 89.90 90.66 104.53 75.76 103.55 108.22 98.93 84.51 69.43 47.49 65.00 81.71

99.93 98.33 101.13 91.30 90.05 90.96 104.83 76.06 103.85 108.52 99.23 84.81 69.73 47.79 65.30 82.01

Bid Yield (%) Offer Yield (%)

5,023.13

TOTAL MARKET CAPITALISATION Rating/Agency

Price

4,577.69 Issuer

Agency Bonds FMBN ***LCRM

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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 2.40 112.22 116.70 66.49

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

0.11 1.09 1.65 2.01 2.23

2.63 2.27 2.00 1.00 2.85

15.89 16.89 16.53 15.51 17.36

98.23 100.41 99.19 101.43 94.90

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

0.38 0.46 0.74 0.74 2.01 1.28 2.72 2.09 2.11 2.09 2.09 2.28 2.72 4.61 2.68 3.22 5.62 5.72 3.37 3.40

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 1.00 1.00 1.00 1.00 1.44 1.00

18.84 17.68 19.01 18.03 15.51 15.58 16.30 16.31 15.51 15.51 19.29 15.51 15.51 15.48 15.51 15.50 15.45 15.44 15.94 15.50

97.67 97.97 96.69 98.27 90.76 97.94 95.05 96.14 97.41 98.26 91.59 99.92 99.95 96.80 98.42 98.20 92.81 98.29 96.46 98.70

17-Aug-15 09-Dec-15 06-Jan-16 29-Sep-16 25-Oct-16 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 22-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 14-Nov-20 30-Dec-21 30-Sep-24 30-Sep-24

0.35 0.40 0.49 1.46 1.53 2.46 1.48 1.74 1.91 1.91 3.44 1.76 2.09 2.71 5.59 6.71 9.46 9.46

1.00 1.00 2.63 1.00 1.34 1.00 1.88 1.00 1.00 1.00 1.00 2.29 6.11 2.16 2.76 1.13 1.00 1.00

15.38 15.42 17.09 15.55 15.88 15.51 16.42 15.53 15.52 15.52 15.50 16.81 20.62 16.67 17.21 15.54 15.69 15.69

98.21 98.68 98.62 96.77 97.85 95.01 102.69 100.69 103.78 100.70 96.08 98.53 95.90 98.59 93.10 103.64 81.76 88.17

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

319.33

Sub-National Bonds A/Agusto A-/Agusto BBB+/Agusto ‡ /Agusto A+/Agusto; ‡ /GCR ‡ /Agusto ‡ /Agusto ‡ /Agusto; A+/GCR ‡ /Agusto; A-/GCR ‡ /Agusto; A-/GCR† ‡ /Agusto ‡ /Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; ‡ /GCR BBB-/Agusto; A-/GCR BBB-/Agusto Aa-/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 2.16 4.86 5.73 57.00 25.73 25.00 30.81 9.00 13.73 10.20 27.00 15.09 80.00 25.70 10.78 87.50 5.00 4.55 4.56

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 433.04

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

*UPDC *FLOURMILLS *CHELLARAMS NAHCO FSDH UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA#{r} NAHCO UBA STANBIC IBTC STANBIC IBTC

10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020 16.45 UBA I 30-DEC-2021 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024

TOTAL OUTSTANDING VALUE

17-Aug-10 09-Dec-10 06-Jan-11 29-Sep-11 25-Oct-13 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 14-Nov-13 30-Dec-14 30-Sep-14 30-Sep-14

10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.25 16.45 11.93 13.25

2.50 18.75 0.42 15.00 5.53 20.00 0.64 5.40 2.54 0.70 35.00 2.40 0.36 4.50 2.05 30.50 0.10 15.44

161.83

TOTAL MARKET CAPITALISATION

157.73

Supranational Bond AAA/S&P

IFC

Aaa/Moody's; AAA/S&P

AfDB

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.83

1.00

15.51

88.17

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

15.48

84.75

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 21.55 Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.65

5.46

105.35

106.33

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.03

4.71

100.27

101.22

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.97

5.82

102.58

103.60

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,540.98

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

129.95

48.00

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.45

4.51

101.07

103.14

B+/S&P

ACCESS BANK PLC

B/Fitch; B/S&P

FIDELITY BANK PLC

B+/Fitch; B+/S&P

GTBANK PLC

B/Fitch

AFREN PLC II

B+/Fitch; BB-/S&P

ZENITH BANK PLC

B/Fitch; B/S&P

DIAMOND BANK PLC

B-/Fitch; B/S&P

FIRST BANK PLC

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

B-/S&P

ECOBANK NIG. LTD

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.88 MAY 09, 2018

11.32

92.00

09-May-13

6.88

300.00

02-May-18

6.00 NOV 08, 2018

11.72

10.71

87.82

90.21

08-Nov-13

6.00

400.00

08-Nov-18

10.25 APR 08, 2019

7.55

6.84

95.25

97.39

08-Apr-12

10.25

300.00

08-Apr-19

6.25 APR 22, 2019

39.71

43.63

22-Apr-14

6.25

500.00

22-Apr-19

8.75 May 21, 2019

7.12

97.00

21-May-14

8.75

200.00

21-May-19

8.25 AUG 07, 2020

13.31

12.66

85.93

87.77

07-Aug-13

8.25

300.00

07-Aug-20

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

13.45

80.00

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

26.12 12.34 9.92

26.12 11.67 9.92

44.00 86.75 90.30

44.00 89.38 90.30

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

11.26

10.80

88.00

89.88

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

4,760.00 3,847.27

**Treasury Bills^ DTM 9 16 23 30 37 51 58 72

FIXINGS Maturity 23-Apr-15 30-Apr-15 7-May-15 14-May-15 21-May-15 4-Jun-15 11-Jun-15 25-Jun-15

Bid Discount (%) 13.77 13.27 10.39 12.57 13.14 13.60 13.66 13.48

Offer Discount (%) 13.52 13.02 10.14 12.32 12.89 13.35 13.41 13.23

Bid Yield (%) 13.81 13.34 10.45 12.70 13.32 13.86 13.96 13.85

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 78.5000 16.7387 17.6674 18.7366

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

75.83

Tenor

Bid ($/N)

Offer ($/N)

O/N

78.42

Spot 7D 14D 1M 2M 3M

199.07 201.81 202.13 202.87 204.24 205.60

199.17 201.93 202.28 203.37 205.31 207.21

Tenor Call 1M

REPO

Rate (%) 85.00 86.00

Rating/Agency

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

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 2.40 112.22 116.70 66.49

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

0.11 1.09 1.65 2.01 2.23

2.63 2.27 2.00 1.00 2.85

15.89 16.89 16.53 15.51 17.36

98.23 100.41 99.19 101.43 94.90

Issuer

Agency Bonds FMBN ***LCRM

TOTAL OUTSTANDING VALUE

322.38

Business | Financial Market News

TOTAL MARKET CAPITALISATION

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

319.33

Sub-National Bonds

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

NEGATIVE

Stock market down N50bn

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

Equities drain as investors take profit

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

made a retreat to take on red. advantage of the bullish Meanwhile, a turnover rally recorded some days of 248.3 billion shares worth N3.6 billion in 4,939 Stories by Chris Ugwu ago to take profits. Consequently, the All- deals was recorded in the he Nigerian Share Index shed 146.79 day’s trading. stock market basis points or 0.42 per The banking services yesterday recent to close at 35,042.33 sector of the financial serturned to the basis points as against vices sector was the most negative trajectory as ac- 35,189.12 recorded the pre- active during the day tivities the shares of vious day while market (measured by turnover TOTAL on OUTSTANDING VALUE blue chipMARKET companies low- capitalisation of equities volume); and 114.3 million TOTAL CAPITALISATION ered downBonds momentum to depreciated by N50 billion shares worth N1.3 billion Corporate 10.00 UPDC 17-AUG-2015 exchanged by investors bearish to close in 17-Aug-10 ‡ /Agustotrend with a loss *UPDC or 0.42 per cent 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 *FLOURMILLS of N50 billion. lower at N11.940 trillion as 1,538 deals. 14.00 CHELLARAMS 06-JAN-2016 BB/GCR *CHELLARAMS Market watchers beagainst N11.990 trillion as Volume in the06-Jan-11 sub13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 NAHCO lieve market speculators market sentiment closed sector was largely driven 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH

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

UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER#

13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020 16.45 UBA I 30-DEC-2021 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024

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

30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 14-Nov-13 30-Dec-14 30-Sep-14 30-Sep-14

13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.25 16.45 11.93 13.25

UBA The analysts said Nigeria’s signals that negative real nalysts at Renaissance *LA CASERA Capital Limited have rebased GDP, measured via wage growth could deepen. In *CHELLARAMS downwardly revised expenditure, was only avail- addition to a fall in demand *DANA NAHCO its Nigerian GDP growth fore- able over a short period (1Q13- for imported consumer goods casts to 3.4 per cent andUBA 4.0 per 1Q14), implying limited his- owing to naira weakness, the STANBIC IBTC cent in 2015 and 2016 from 4.5 consumer may also be hit by STANBIC IBTC tory to forecast from. VALUE perTOTAL centOUTSTANDING and 5.0 per cent re“When we consider the a VAT hike to 10 per cent (vs 5 TOTAL MARKET CAPITALISATION impact of lower oil and ac- per cent). The wholesale and spectively . According to the analysts tivity-stalling elections on retail trade – a good proxy for Supranational Bond in aAAA/S&P research report obtained expenditure, we think there consumption – last saw growth 10.20 IFC 11-FEB-2018 11-Feb-13 10.20 IFC 11.25 AFDBdownside 1-FEB-2021 Aaa/Moody's; AAA/S&P 10-Jul-14 11.25 by New Telegraph, the revised is significant risk plummet in 2012 to 2.2 per cent AfDB TOTAL OUTSTANDING VALUE GDP forecasts came not be- to our 2015 growth projec- (vs 7.2 per cent in 2011), largeTOTAL MARKET CAPITALISATION cause of the policy platform tion of 4.5 per cent (vs 6.2 per ly on account of a 50 per cent of President-elect Buhari, but cent in 2014). In particular, petrol price hike. We expect Description Date Coupon (%) because Rating/Agency austere policies justifyIssuerwe see household consump- a similarIssue slowdown in 2015,” FGN Eurobonds a weaker GDP outlook. tion – which accounts for 70 they noted. They said, “We do note, per cent of GDP6.75 – JAN slowing Commenting further,6.75 they 28, 2021 07-Oct-11 BB-/Fitch; B+/S&P however, that the transition sharply in 2015, mainly due said: “The FY15 budget preBB-/Fitch; 5.13 JUL 12, 2018 12-Jul-13 5.13 may add some further delay FGN to negative real wage growth. sented to the National AssemBB-/S&P BB-/Fitch; to government investments.” “The proposed cut in bly in December, proposed 6.38 JUL 12, 2023 12-Jul-13 6.38 BB-/S&P They noted that VALUE consump- the FY15 budget oil price slashing capex by two-thirds TOTAL OUTSTANDING tion and MARKET fixed investment look to NGN53/bl, vs NGN77.5/ to NGN387bn (0.4 per cent of TOTAL CAPITALISATION bl in FY14, means govern- GDP). The recent cut in the set to slow sharply in 2015. Corporate Eurobonds “A slowdown in net exports ment consumption, which proposed budget oil price 11.50 FEB 01, 2016 01-Feb-11 11.50 B/Fitch; B-/S&P AFREN is likely to be tempered byPLCaI accounts for eight per cent suggests capex could fall furMAY 19, 2016 7.50 B+/Fitch; B+/S&P PLC I weaker-naira induced GTBANK decline of GDP, could be 7.50 slashed by ther. This19-May-11 implies a decline 7.25 JUL 25, 2017 25-Jul-12 7.25 B+/S&P ACCESS BANK PLC for governmentin imports. This should miti- one-third (assuming oil out- in business 6.88 MAY 09, 2018 09-May-13 6.88 B/Fitch; B/S&P FIDELITY BANK PLC gate the fall in exports. Given put and non-oil revenue redependent contractors. More6.00 NOV 08, 2018 08-Nov-13 6.00 B+/Fitch; B+/S&P GTBANK PLC 10.25 APR 08, 2019 10.25antheB/Fitch headwinds expenditure isII main flat). over, some08-Apr-12 corporates have AFREN PLC 6.25 APR 22, 2019 22-Apr-14 6.25 B+/Fitch; BB-/S&P ZENITH BANK PLC “We believe this likely to face in the short term, implies nounced that they are slashing 8.75 May 21, 2019 21-May-14 8.75 B/S&P BANK PLC a wage-freeze (at best) for weB/Fitch; think GDP growthDIAMOND could their FY15E capex plans; Flour 8.25 AUG 07, 2020 07-Aug-13 8.25 B-/Fitch; B/S&P FIRST BANK PLC government workers. That, turn out softer than our initial Mills, for one, plans to halve 6.63 DEC 09, 2020 09-Dec-13 6.63 its B-/Fitch; B/S&P AFREN PLC III 9.25/6M USD LIBOR+7.677 JUN 24, 2021 24-Jun-14 9.25 B-/Fitch; B/S&P they noted. ACCESS BANK PLC II projections,” coupled with rising inflation, capex. #

#{r}

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

12.95

24.95 21.55 Outstanding Value ($mm)

500.00 500.00 500.00

1,500.00 1,540.98

450.00 500.00 350.00 300.00 400.00 300.00 500.00 200.00 300.00

23-Jul-14

8.00 8.75

250.00

FMDQ Daily Quotations List

97.67

15.50 15.45 15.44 15.94 15.50

98.20 92.81 98.29 96.46 98.70

12.00

14-Aug-14

18.84

97.97Fidson On17.68 the flip side, 19.01 96.69 Nigeria Plc led the losers’ 18.03 98.27 table 15.51 with a drop 90.76of five 15.58 to close 97.94 per cent at N3.23 16.30 per share while95.05 UBN Plc 16.31 96.14 shed 4.93 to close 15.51 per cent 97.41 15.51 per share. 98.26 Portat N10.41 91.59 land 19.29 Paints Plc trailed 15.51 99.92 with 4.86 per cent to close 15.51 99.95 15.48per share. 96.80 at N3.33 15.51 98.42

he Nigerian Stock bringing all together for Exchange (NSE) in fun, fitness and fellowpartnership with 17-Aug-15 0.35 1.00 ship. 15.38 98.21 09-Dec-15 0.40 Encour1.00 15.42 initiative 98.68 the Committee “This will 06-Jan-16 0.49 2.63 17.09 98.62 aging Corporate Philanenhance the concept of 29-Sep-16 1.46 1.00 15.55 96.77 thropy within 25-Oct-16 (CECP), 1.53key pub1.34 volunteerism 15.88 97.85 30-Sep-17 2.46 1.00 participating 15.51 95.01 compalicly quoted companies 30-Nov-17 1.48 1.88 16.42 102.69 and Dealing Members nies as proceeds from 09-Apr-18 1.74 1.00 15.53 100.69 will be holding will be 09-Sep-18 1.91 the 2nd 1.00 the competition 15.52 103.78 09-Sep-18 of the1.91 1.00 donated 15.52 to Committee 100.70 edition NSE Cor22-Sep-18 3.44 1.00 15.50 96.08 porate Challenge. Encouraging Corporate 18-Oct-18 1.76 2.29 16.81 98.53 The one-day event, Philanthropy (CECP), 17-Feb-19 2.09 6.11 20.62 95.90 01-Apr-19 is scheduled 2.71 2.16 to support 16.67 which to the 98.59 national 14-Nov-20 2.76 drive 17.21 93.10 take place in5.59 Lagos on aimed at providing 30-Dec-21 6.71 1.13 15.54 103.64 May 16, will be competiMobile Cancer Centres 30-Sep-24 9.46 1.00 15.69 81.76 tive and fun-filled five 30-Sep-24 9.46 1.00 (MCCs) 15.69across Nigeria.” 88.17 kilometer walk, run According to the CSR and jog competition to Lead at the NSE, Mrs. promote company pride, Cima Sholotan, the partteamwork, corporate was 11-Feb-18 2.83 1.00 nership 15.51 with CECP 88.17 01-Feb-21 1.00 entered 15.48 into on 84.75 wellness and4.75 to create Februawareness for the fight ary 25, 2013 during the against cancer. commemoration of the Head of Corporate International Corporate Maturity Date Bid Yield (%) Offer Yield (%) Bid Price Offer Price Services Division, NSE, Philanthropy Day with Mr. Bola Adeeko, notedPrices the aim of ‘taking can& Yields that, “The NSE Corpocer prevention to the 28-Jan-21 5.65 5.46 105.35 106.33 rate Challenge is a Cor- grassroots’. 12-Jul-18 4.71 100.27 goal 101.22 porate Social5.03 Responsi“The is to acbility (CSR) initiative quire 37 Mobile Cancer 12-Jul-23 5.97 102.58 5.82 103.60 of the Exchange, aimed Centres (MCCs), one at promoting the health for each state and the and wellbeing of our op- Federal Capital Terrierating community. tory, Abuja. This takes 01-Feb-16 129.95 129.95 advantage 48.00 48.00 scienThe idea behind the of the 19-May-16 6.45 4.51 Corporate Challenge is tific 101.07 evidence 103.14 that, one 25-Jul-17 11.32 11.32 92.00 for responsible organ-third92.00 of all cancer cases 02-May-18 11.72 10.71 87.82 90.21 isations and their emis preventable, another 08-Nov-18 7.55 6.84 95.25 97.39 08-Apr-19 ployees to take and 39.71 part in 39.71 one-third 43.63 is curable 43.63 22-Apr-19 7.12 97.00 third can 97.00 have the initiative7.12 as a way the last 21-May-19 12.66 85.93 of07-Aug-20 enhancing13.31 employeegood quality of87.77 life with 13.45 13.45 80.00 80.00 employer relations and appropriate care,” said 09-Dec-20 26.12 26.12 44.00 44.00 24-Jun-21 12.34 11.67 Sholotan. 86.75 89.38 boosting goodwill by

157.73

8.75 AUG 14, 2021

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 1.00 1.00 1.00 1.00 1.44 1.00

NSE partners corporate organisations to race against cancer

161.83

8.00/2Y USD SWAP+6.488 JUL 23 2021

0.38 0.46 0.74 0.74 2.01 1.28 2.72 2.09 2.11 2.09 2.09 2.28 2.72 4.61 2.68 3.22 5.62 5.72 3.37 3.40

foam Plc followed with 5.48 per cent to close at N4.43 per share and NPF MFB Plc with a gain of five per cent to close at N1.05 per share.

20.00 0.64 5.40 2.54 0.70 35.00 2.40 0.36 4.50 2.05 30.50 0.10 15.44

360.00 400.00 450.00

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

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

by activities in the shares of Fidelity Bank Plc and Zenith Bank Plc. Also, other financial services sub- sector, boosted by activities in the shares of FBNH Plc, followed with a turnover of 56.8 million shares valued at N441.6 million in 990 deals. 452.88 Further analysis 433.04 of the day’s trading showed that Livestock Feeds 10.00 2.50 Plc 12.00 18.75 topped the day’s gainers’ 14.00 0.42 table with 6.17 per 15.00 cent to 13.00 close 14.25 at N2.41 while 5.53Vita-

Analysts see weaker GDP outlook

8.50 2.16 4.86 5.73 57.00 25.73 25.00 30.81 9.00 13.73 10.20 27.00 15.09 80.00 25.70 10.78 87.50 5.00 4.55 4.56

23-Jul-21

9.92

90.30

14-Aug-21

11.26

10.80

88.00

90.30 89.88

14-Apr-15

4,760.00 3,847.27

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 **Treasury financial Bills^ or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS”FIXINGS Money professional, and on an “AS AVAILABLE” basis andMarket may not be accurate Foreign or up toExchange date. We(Spot do not guarantee the & Forwards) DTM Maturity Discount (%) Offer Discount (%) Yield (%) Tenor (%) accuracy, timeliness, completeness, performance or fitness forBid a particular purpose of any of the Information,Bid neither do we accept liability forNIBOR the results of any action taken on the basisRate of the Information. 9 23-Apr-15 13.77 16 30-Apr-15 13.27 23 7-May-15 10.39 14-May-15 12.57 FGN Bonds 30 37 21-May-15 13.14 51 4-Jun-15 13.60 Issuer Description Rating/Agency 58 11-Jun-15 13.66 72 25-Jun-15 13.48 79 2-Jul-15 13.54 4.00 23-APR-2015 86 9-Jul-15 10.73 ^13.05 16-AUG-2016 93 16-Jul-15 13.64 ^15.10 27-APR-2017 100 23-Jul-15 12.46 9.85 27-JUL-2017 107 30-Jul-15 13.35 9.35 31-AUG-2017 114 6-Aug-15 13.59 121 13-Aug-15 13.95 10.70 30-MAY-2018 135 27-Aug-15 13.68 ^16.00 29-JUN-2019 142 3-Sep-15 13.74 7.00 23-OCT-2019 NA NA 149 10-Sep-15 13.29 15.54 13-FEB-2020 163 24-Sep-15 13.26 ^16.39 27-JAN-2022 170 1-Oct-15 14.01 ^14.20 14-MAR-2024 184 15-Oct-15 13.49 233 3-Dec-15 13.02 15.00 28-NOV-2028 247 17-Dec-15 13.38 12.49 22-MAY-2029 268 7-Jan-16 13.45 8.50 20-NOV-2029 282 21-Jan-16 13.63 ^10.00 23-JUL-2030 296 4-Feb-16 13.36 ^12.1493 18-JUL-2034 310 18-Feb-16 13.57 324 3-Mar-16 13.45 TOTAL OUTSTANDING VALUE 338 17-Mar-16 13.00 345 24-Mar-16 13.37 TOTAL MARKET CAPITALISATION 359 7-Apr-16 13.20 *for the Amortising bonds, the average life is calculated and not the duration #

Risk Premium is a combination of credit riskIssuer and liquidity risk premiums Rating/Agency **Exclusive of non-trading t.bills

Agency Bonds FMBN ***LCRM Modified Duration Buckets

TOTAL OUTSTANDING VALUE

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

KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER

13.52 13.02 10.14 12.32 12.89 13.35 Issue Date 13.41 13.23 13.29 23-Apr-10 10.48 16-Aug-13 13.39 27-Apr-12 12.21 27-Jul-07 13.10 31-Aug-07 13.34 13.70 30-May-08 13.43 29-Jun-12 13.49 23-Oct-09 13.04 13-Feb-15 13.01 27-Jan-12 13.76 14-Mar-14 13.24 12.77 28-Nov-08 13.13 22-May-09 13.20 20-Nov-09 13.38 23-Jul-10 13.11 18-Jul-14 13.32 13.20 12.75 13.12 12.95

Description

Bonds

Issue Date

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 Porfolio Market Total Outstanding 0.00/16.50 LCRM III 06-JUL-2017 Value(Bn)

13.81 13.34 10.45 12.70 13.32 13.86 Coupon 13.96 (%) 13.85 13.94 4.00 11.00 13.05 14.13 15.10 12.90 9.85 13.89 9.35 14.19 14.63 10.70 14.41 16.00 14.52 7.00 14.06 15.54 14.09 16.39 14.98 14.20 14.47 14.20 15.00 14.71 12.49 14.92 8.50 15.23 10.00 14.98 12.1493 15.34 15.27 14.78 15.30 15.16

Volume(Bn)

Tenor O/N 1M 3M 6M Outstanding Value

(N'bn)

535.00 NITTY 581.39

Tenor 476.80 1M 20.00 2M 100.00 3M 6M 300.00 9M 351.30 12M

OBB

Rate (%) 78.5000 16.7387 17.6674 18.7366

O/N

23-Apr-15 16-Aug-16

233.90 23-Oct-19 54.00 13-Feb-20 600.00 27-Jan-22 NIFEX 499.68 14-Mar-24 Current Price ($/N) 75.00 28-Nov-28 BID($/N) 150.00 199.0125 22-May-29 OFFER ($/N) 199.1125 200.00 20-Nov-29 591.57 23-Jul-30 254.50 18-Jul-34

Maturity Date

Avg. Life/TTM (Yrs)

2.04 14.52 14.43 2.29 14.51 14.43 2.38 14.51 14.43 :Benchmarks * :Amortising Bond 3.13 14.50 14.37 µ :Convertible Bond 4.21 14.50 14.41 AMCON: Asset Management Corporation of Nigeria 4.53 14.49 14.38 FGN: Federal Government of Nigeria 4.83Mortgage Bank of 14.47 14.39 FMBN: Federal Nigeria 6.79 Finance Corporation 14.43 14.37 IFC: International 14.41 Management 14.35 LCRM: Local8.92 Contractors Receivables NAHCO: Nigerian Aviation Handling Company 13.62 18.08 18.01 O/N: Overnight 14.10 18.69 18.61 UPDC: UAC Property Development Company 14.60 19.42 19.31 WAPCO:West Africa Portland Cement Company 15.27 16.26 16.18 19.26 15.08 15.02 NOTE:

199.07 201.81 202.13 202.87 Bid Price 204.24 205.60 206.2899.78 220.2998.18

Offer ($/N) 199.17

Price 201.93

202.28 203.37 Offer Price 205.31 207.21 213.4799.93 226.2798.33

100.98 101.13 91.15 91.30 89.90 90.05 NA :Not Applicable 90.66 90.96 ^ : Market Prices # : Floating104.53 Rate Bond 104.83 ***: Deferred coupon bonds 75.76 76.06 103.55 ‡ : Bond rating under review103.85 108.22 108.52 †: Bond rating expired 98.93 99.23 N/A :Not Available {r} :Issuer in receivership 84.51 84.81 69.43 69.73 NGC: Nigeria-German Company 47.49 47.79 UBA: United Bank for Africa 65.00 65.30 81.71 82.01

4,577.69 Coupon (%)

Outstanding Value (N'bn)

Value

322.38

1,419.52

1,409.48

42.01

44.98

3<5

1,143.61

1,099.68

32.78

36.24

319.33 0.33

592.47

846.07

25.22

18.78

3,355.23

100.00 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

100.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00

3,155.59 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

Rate (%) Bid Yield (%) 85.00 86.00 87.00 12.59 88.00 14.55

Bid ($/N)

Spot 7D 14D 1M Offer 2M Yield (%) 3M 6M 6.61 1Y 14.42

5,023.13

Market

Tenor TTM Call (Yrs) 1M 3M0.02 6M1.34

Maturity Date

Rate (%) 27-Apr-17 12.6672 27-Jul-17 13.8368 31-Aug-17 13.9793 14.2487 30-May-18 15.0883 29-Jun-19 15.2859

Tenor

78.42

REPO

24-May-12 0.00 24.56 03-Apr-12FMDQ FGN17.25 BOND INDEX 2.40 09-Dec-11 0.00/16.00 112.22 20-Apr-12 0.00/16.50 116.70 Weighting by Weighting by Mkt 06-Jul-12 0.00/16.50 66.49 Bucket Weighting

Outstanding Vol

75.83

0.42

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

Mod_Duration

0.11 1.09 1.65 2.01 2.23 Implied Yield

# Risk Premium (%)

2.63 2.27 2.00 1.00 Implied2.85

Portfolio Price

Valuation Yield (%) 15.89 16.89 16.53 15.51 INDEX17.36

Indicative Price

98.23 100.41 99.19 101.43 YTD Return 94.90 (%)

20.06

14.52

104.7768

1,173.91

5.9634

39.07

14.42

106.0225

1,057.90

4.4769

0.25

40.87

15.83

74.7809

1,051.05

4.3729

1.00 8.50 2.16 4.86 5.73 57.00 25.73 25.00 30.81 9.00 13.73 10.20

100.00 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

15.02 0.38 0.46 0.74 0.74 2.01 1.28 2.72 2.09 2.11 2.09 2.09

97.6212 4.44 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00 1.00 4.78

1,103.11 18.84 17.68 19.01 18.03 15.51 15.58 16.30 16.31 15.51 15.51 19.29

4.5422 97.67 97.97 96.69 98.27 90.76 97.94 95.05 96.14 97.41 98.26 91.59

NEW TELEGRAPH wednesday, april 15, 2015

News 47

south - east

Youths attack Ihenacho’s residence Steve Uzoechi OWERRI

ouths numbering over 700, allegedly belonging to the All Progressives Congress (APC), yesterday attacked the residence of Emmanuel Ihenacho, the governorship candidate of the All Progressives Grand Alliance (APGA)

in Imo State. The irate youths were protesting the declaration of the April 11 governorship election in the state as inconclusive, calling on the Independent National Electoral Commission (INEC) to declare Governor Rochas Okorocha, winner of the election. They were seen marching to the Imo International Convention

Centre (IICC) after being addressed by Governor Okorocha, who called for calm, when they sighted APGA protesters around the Warehouse Junction, calling for the cancellation of the said election on the grounds of violence and malpractices. A clash ensued and the largely out-numbered APGA loyalists fled with varying injuries with some fleeing into the

premises of Ihenacho’s residence, which is next to the Warehouse Junction. The rampaging youths advanced to Ihenacho’s gate, which was now locked, throwing stones, bottles and other objects into the premises and smashing vehicle windshields, headlamps and defacing several vehicles in the premises. Media Aide to Ihena-

cho, Mr. Emperor Iwuala, condemned the act, describing it was an unwarranted assault on the party and its members. He said: “This dastardly act was unprovoked and totally uncalled for. It is an act of intimidation and we are compelled to believe that it was premeditated and intended to silence any dissension

against the rampantly flawed governorship election of April 11. “Our members were violently attacked with many of them injured, vehicles and property of our governorship candidate were destroyed and vandalised. We condemn in its entirety, this act of brigandage and impunity,” Iwuala said.

Enugu lawmakers suspend member Uwakwe Abugu Enugu

he Enugu State House of Assembly yesterday suspended the Chairman of the Finance and Appropriation Committee of the House, Hon. Johnbull Nwagu, for allegedly colluding with the executive to withhold their overhead allowances. The lawmakers also threatened to order the

arrest of the Accountant General (AG) of the state, Mr. Pascal Okoye, should he fail to appear before the House over the same overhead cost palaver and other financial matters before it. The state government had withheld the March overhead fund of the assembly, a development seen to be linked with the refusal of the House to approve a fresh N11 billion loan request made by Governor Sullivan Chime.

PDP wins 16 Assembly seats in Ebonyi Uchenna Inya Abakaliki Enugu State Governor-elect, Ifeanyi Ugwuanyi (middle); former Aviation Minister, Ambassador Fidelia Njeze (right); Senator Gil Nnaji and others, during Ugwuanyi’s acceptance speech in Enugu...yesterday

emeka must go Court voids church leader's application to protect his fundamental human rights

he Court of Appeal sitting in Enugu has upheld the suspension and dismissal of the General Superintendent of the Assemblies of God Church, Rev. Paul Emeka, by the church. In a lead judgement delivered yesterday by Justice Emmanuel Agim, the court held that it was not the fundamental right of any member to be General Superintendent of the church. The court voided his application for the protection

Appeal Court upholds dismissal of Assemblies of God’s leader of his fundamental human rights as General Superintendent. It said there was no proper proof of service on the appellants and that the trial court was wrong in deciding that there was proper service. The court also overruled the order of an Enugu high court that other members of the church that held various executive offices should vacate them. It voided the order of the trial court, which awarded N30 million against other members of the executive and in favour of Emeka. The court blamed the

Minister lauds Umuahia medical centre Igbeaku Orji Umuahia

he Minister of Health, Fidelis Nwankwo, yesterday commended the management and staff of the Federal Medical Centre (FMC), Umuahia, for what he described as the “wonderful transformation that has taken place in the hospital” both in

human and infrastructural development. The Minister was elated by what he saw on ground during his oneday visit to the hospital for which he commended the management and staff and urged them to sustain the development to make the hospital a one-stop destination for health services in the country.

respondent for the crisis that engulfed the church over the years, adding that the way he approached the misunderstanding in the church, heightened the crisis. Reacting to the court judgement, Mr. Donald Chika (SAN) and counsel to the appellants, hailed the court’s decision to upturn the verdict of the trial court. “The decision of the appellate court that Emeka, as an individual and member, cannot override the will of the church is the right one. “The court said he was fortunate to have been

elected General Superintendent and in the capacity, should always listen to the church,” Chika said. Counsel to the respondents, who did not want his name mentioned, said she had nothing to say about the judgement. The News Agency of Nigeria (NAN) reports that Emeka was suspended by the church following the crisis that engulfed the church. It will be recalled that property worth millions of naira were destroyed in the course of the crisis that most times resulted to free-for-all among church members.

Ugwuanyi promises good governance Uwakwe Abugu Enugu

he Enugu State Governor-elect, Ifeanyi Ugwuanyi, yesterday spoke on his victory at last Saturday’s polls, promising to reward the people of the state with good governance. Ugwuanyi, who addressed a huge gather-

ing at the state campaign headquarters of the Peoples Democratic Party (PDP) as he delivered his acceptance speech, said he meant his promise, saying; “I must appreciate the electorate who defied the rain and the sun to ensure that their votes counted. “They are the true heroes of our democracy and will be surely rewarded with good governance.”

he Peoples Democratic Party (PDP) in Ebonyi State has won 16 out of the 18 House of Assembly election results released by the Independent National Electoral Commission (INEC) for the House of Assembly

poll in the state. According to the results, the PDP won in Onicha West and East, Afikpo North West, Afikpo South East and West, Ohaozara East and West, Ivo, Ezza South, Ikwo North and South constituencies. Others are Izzi West, Ishielu North and South and Ebonyi North East and West.

PUBLIC NOTICE

EL- CRYSTAL STAR STAFF ASSOCIATION This is to inform the general public that the above named ASSOCIATION has applied to the Corporate Affairs Commission, Abuja for registration under part ‘C’ of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Mr. Oyeleye Olusegun Akinyele - Chairman 2. Mrs. Oyeleye Rosemary Omachile - Secretary 3. Mr. Ajao Michael - Member AIMS AND OBJECTIVES 1. To foster unity, love, progress and peaceful co- existence of members. 2. To take care of the members welfare. 3. To give moral, spiritual and financial supports to members when needs arise. Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: CHAIRMAN

PUBLIC NOTICE

HOLY GHOST SOLUTION BIBLE CHURCH OF CHRIST

This is to inform the general public that the above named CHURCH has applied to the Corporate Affairs Commission, Abuja for registration under part ‘C’ of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Prophet Samuel Ajayi Afigbagbo -General Overseer 2. Ajayi Olaoluwatoyosi Grace - Secretary 3. Prophetess Hannah Ibrahim 4. Prophetess Mary Ajayi 5. Prophetess Omolara Onadeko 6. Prophet Samuel Koya AIMS AND OBJECTIVES 1. To preach the gospel. Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: TRUSTEE

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Chevron denies liability in rig explosion

hevron Nigeria Limited (CNL) yesterday said it would not pay any compensation for the January 2012 rig explosion and fire incident off Bayelsa coastline. This is contained in a statement signed by the General Manager, Policy, Government and Public Affairs, Chevron Nigeria Limited, Mr. Deji Haastrup, in Yenagoa, the state capital. Haastrup was quoted in the statement made available to the News Agency of Nigeria (NAN) as saying that the oil firm has no liability in the incident. NAN recalls that youths from Koluama 2 community in Bayelsa State had, on September 15, 2014, in a protest, occupied the North Apoi Oil Platform operated by Chevron over the non-payment of compensation for the rig blowout. They only vacated the facility after officials of the oil firm opted for dialogue brokered by the Commander of the Joint Task Force in the Niger Delta, Maj.Gen. Emmanuel Atewe. After several unsuccessful attempts to resolve pending issues on the January 2012 fire incident, Chevron has refused to take responsibility and rather the company said the incident did not impact the people. Haastrup said: “The issue of compensation does not arise because the January 2012 rig incident

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

SOUTH-SOUTH

occurred 10 kilometres offshore and did not adversely impact any community. “However, following the incident, the Nigeria Oil Spill Detection and Remediation Agency (NOSDRA) conducted post-incident environmental assessment and reported the results to the House of Representatives Committee on Environment. “That report states that onshore air testing revealed no detectable levels of pollutants and water samples tested were within naturally acceptable standards. “Similarly, the result of the independent environmental studies carried out

in the coastal communities by an independent third party in conjunction with the regulators (DPR and NOSDRA) after the rig incident, showed no adverse effects on air or water and the environment. “Also, an independent Health Impact Assessment found that the incident did not adversely impact the health of members of the coastal communities, the closest of which was 10 kilometres to the incident location,” Haastrup said in the statement. It, however, explained that an independent body, Multi-Stakeholder Committee (MSC), was set up

to address the concerns of stakeholders who have made claims in connection with the Incident. It said the MSC made several recommendations to CNL and the communities, which included a goodwill gesture by CNL to make an ex-gratia contribution in support of development in the communities. It said that most of the projects selected by the various communities in furtherance of the implementation of the recommendation by the MSC have been completed and inaugurated by the various communities.

PDP confident of victory in Edo 2016 governorship poll Cajetan Mmuta BENIN

he Peoples Democratic Party (PDP) in Edo State yesterday dared Governor Adams Oshiomhole and the All Progressives Congress (APC) over the control of the Government House in the 2016 governorship election in the state. Chair man of the party, Chief Dan Orbih, who spoke at a press conference in Benin yesterday, said with the outcome of the March

Members of the Peoples Democratic Party (PDP) in Cross River State, celebrating the victory of Governor-elector, Ben. Ayade, in Calabar...on Monday

18 Presidential and National Assembly polls and the April 11 House of Assembly poll, there is presently balance of power among the two camps of the APC and the PDP in the state. Orbih said despite the 20-member APC majority and three PDP minority lawmakers in the House, who have secured the mandate of Edo people to represent them at the legislative house, the PDP was poised as a more viable opposition and cannot relent to ensure that democracy is deepened in the governance of the state. He said with PDP’s landslide victory in five House of Representatives seats out of nine federal constituencies and the vantage position at the upper chamber of the National Assembly, where it has two senators from Edo Central and Edo South, the party and its members are set to take over the reins of power at the end of Oshiomhole’s tenure in the 2016 gubernatorial election. The party expressed appreciation to the people for their support and votes during the March 28 and April 11 polls, which the leadership said earned it a laudable position at the national and state House of Assembly elections.

Electoral fraud: Arraignment of former NYSC boss stalled Accept defeat in good faith, lawmaker urges politicians Tony Anichebe Uyo

fforts by the Independent National Electoral Commission (INEC) to arraign a former National Youths Service Corps (NYSC) boss, Edet Akpan, was yesterday stalled by the three-day no court session declared by the Akwa Ibom State judiciary because of the ongoing Alternative Dispute Resolution activities in the state. Akpan, a former Di-

rector General of the NYSC and a chieftain of the All Progressives Congress (APC), who was arrested last Saturday, was brought to the Uyo Chief Magistrates’ court by men of the Department of State Service (DSS), for prosecution. The retired General was arrested in Nsit Attai Local Government, during the April 11 governorship and House of Assembly elections for allegedly snatching ballot boxes and other electoral materials from

INEC officials. He was also alleged to have abducted 10 youth corps members and made them thumb print and fill result sheets in favour of a political party before men of the DSS trailed and arrested him in his house. INEC’s inability to arraign Akpan yesterday was due to the ongoing Alternative Dispute Resolution (ADR) MultiDoor Court function, which is holding simultaneously in the three senatorial districts of the state.

Utuama: Okowa’s victory delightful Gabriel Choba Ughelli

he Delta State Deputy Governor, Amos Utuama, yesterday described the victory of Senator Ifeanyi Okowa in the governorship race as heartwarming and delightful. Utuama, who said this in a statement, explained that the victory was an

eloquent testimony to the fact that democracy can only thrive where there is no imposition. According to him, “The victory of our governorship candidate, Senator Ifeanyi Okowa, is very heartwarming and delightful. It shows that, one, democracy can only thrive where there is no imposition. To emphasise a little more, Okowa was not a

product of imposition. And that is why he won the primaries hands down. “Two, the election also demonstrated that Delta State has moved up the democracy ladder, because Okowa’s votes spread all over the 25 local government areas. He won in the north where he comes from; he won in the south and he won in central part of the state.

Clement James Calabar

he lawmaker representing Boki 11 constituency in the Cross River State House of Assembly, Dr. Jacob OtuEnyia, has appealed to candidates who lost the April 11 election in the state to accept defeat in good faith. Otu-Enyia, who is also the Chairman, Finance and Appropriation Committee in the House, made

Gabriel Choba Ughelli

he Delta State All Progressives Congress (APC) governorship candidate in the just concluded governorship election, Olorogun O’tega Emerhor, yesterday said the Independent National Electoral Commission (INEC) must cancel the April 11 election in the state. Emerhor, who spoke while addressing press-

this plea in Calabar while interacting with newsmen. According to him, politicians should not see elections as “a do or die affair,” hence the need for those who lost to show maturity by congratulating the winner or seek redress in court rather than resort to violence. “I am calling on all those who lost election in the state to take it with philosophical calmness and be peaceful in their reaction. In politics, you

don’t win all the time. At one time, you win and at another time, you lose, that is the game,” he said. According to him, “I wish those that lost election to remain calm and not to blow to the whole world that there were irregularities simply because they lost.” Otu-Enyia, who said he observed the election in Boki Local Government, commended the security agents for maintaining peace before, during and after the polls.

Delta governorship election must be cancelled, Emerhor insists men at his Warri residence, described the election purportedly won by the PDP candidate, Ifeanyi Okowa, as fraught with irregularities. He said during the election, there were deliberate and well-orchestrated war unleashed by the PDP on voters in parts of Delta North and Central to disrupt the election. He also

alleged that PDP chieftains and their security men were working with thugs to seize result sheets, cart away materials in APC strongholds. According to Emerhor; “Such violence and commotion were designed as smokescreen for the real fraud of cooking up figures between PDP and their INEC accomplices.”

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

News 49

NORTH

PDP concedes defeat in Jigawa, congratulates governor-elect Dahiru Suleiman Dutse

he gubernatorial candidate of the Peoples Democratic Party (PDP) in Jigawa state, Malam Aminu Ringim, has conceded defeat and congratulated the Governorelect, Alhaji Muhammad Badaru Abubakar of the All Progressives Congress (APC). Speaking through the

state radio station (Radio Jigawa), Ringim also thanked all those who cast their votes for him during the just concluded gubernatorial elections, adding that this success will bring about progress and development to the entire Jigawa State citizens. He described his defeat as an act of God, saying that “as a Moslem, I believe in destiny. Therefore my defeat wasn’t a surprise to me since

that’s how God wants it. Ringim, who thanked God Almighty for giving him the opportunity to vie for governorship elections, said: “I am proud of this gesture given to me by God, and called upon his supporters and other PDP supporters not to panic, instead they should take the defeat as a challenge towards mapping out strategies in future elections for the party’s success. Also speaking, the

Jigawa State PDP Chairman, Alh. Salisu Mamuda said the defeat was a challenge, stressing that such is politics, “since in election there must be a winner and a loser, so to us our defeat will afford us to dig out our failures in advancing forward”. Asked whether the defeat will weaken the PDP strength in future, Mamuda said, “not at all instead it will raise the level of commitment in working

tirelessly for the party’s success in future. It could be recalled that Abubakar Mohammed Badaru of APC was declared winner of the just concluded gubernatorial elections with 648,045 votes defeating his opponent, Mal. Aminu Ringim of PDP who polled 497, 447 votes. In his acceptance speech, the Governorelect, Alhaji Abubakar pledged to run an open

door policy and peopleoriented government devoid of any indifference in sex, region, or religious affiliation. On his priority areas, Badaru said the APC government will place premium on security, education, water and sanitation process, women and youths empowerment. He called for positive advice and commitments from Jigawa people in the realisation of his dreams.

We’ll fight corruption, says Ortom Cephas Iorhemen Makurdi

Former President of Niger Republic, Muhammadou Usman (left), with President-elect, General Muhammadu Buhari, during a visit to Buhari in Daura, Katsina State…yesterday

in Bauchi FUT Minna to graduate 34 first class PDP wins two seats Assembly seats. Dan Atori MINNA

he Federal University of Technology, Minna said it will graduate 34 students as First Class out of 3,490 graduands of the 2013/2014 academic session. Vice Chancellor of the University, Prof. Musbau Adewumi Akanji said yesterday at a press briefing on the occasion of the 24th convocation ceremony of the FUT, Minna that in the last set, 82 First Class graduates was recorded. “A total of 3,490 graduands will be conferred with degrees and diplomas. This is made up of

2,903 First Class degrees, 105 Postgraduate diplomas, 453 Masters’ and 29 Doctoral degrees. “Of the first degree category which is classified, 34 are First Class, 811 in Second Class Upper Division, 1,363 in Second Class Lower Division, 648 in Third Class, while 47 are with Pass degrees,” the Vice Chancellor said. Akanji further stated that out of the 138 universities in the country, the University of Lagos is first, while the FUT, Minna has moved to the 6th position in Nigeria and 57th in Africa as against its previous positions of 9th in Nigeria and 68th in Africa.

Senator-elect laments mass defection from PDP Alhassan Yusuf Bauchi

senator-elect in Bauchi South Senatorial District, and former Comptroller of Custom, Al Wakili has expressed concern over the recent defection of members of PDP to APC, saying that is not good for the present democracy in Nigerian.

Speaking to newsmen, this shortly after casting his vote in Lere in Tafawa Balewa local government area, his home town, Wakili stated that there is no way a winning political party will rule without opposition, adding that it is better for the other parties to form a formidable platform than for them to defect to another party.

Mohammed Kawu Bauchi

nly two out of the 46 National and State Assemblies seats in Bauchi State was won by the ruling People’s Democratic Party (PDP) in the just concluded general elections in the country. The opposition All Progressives Congress (APC) won 43 of the seats, as the Peoples Democratic Movement got the remaining lone seat in the contests that surprised a number of people. The PDP won the only two seats of Bogoro and Udubo state constituency while the PDM clinched onto the Giade House of

The PDP candidates, Markus Makama and Umar Yakubu won in Bogoro and Udubo, repectively, while Adamu M. Bello of the PDM won the Giade state constituency seat. The 43 State Constituency seats won by APC are: Duguri/ Gwana, Pali, Bauchi, Zungur/Galambi, Dambam/ Dagauda/Jalam, Sade, Darazo, Gamawa, Ganjuwa East, Ganjuwa West, Itas/ Gadau, Jama’are, Madara/Chinade, and Azare/ Madangala. Others include the Kirfi, Hardawa, Chiroma in Misau, Bura, Ningi, Shira, Disina, Lere/Bula, Toro/Jama’a, Lame, Warji, Katagum/ Zaki, and Sakwa state constituencies.

he Benue State governor-elect, Dr. Samuel Ortom yesterday promised that he will extend his tentacles to the fight against corruption to minimize it from further permeating the body polity of the state. Dr. Ortom stated this while addressing journalists at the state secretariat of the Nigerian Union of Journalists, and vowed to accord top priority to the payment of salaries of civil servants in the state. He noted that since the leader of the party, General Mohammadu Buhari has indicated interest in fighting corruption, Benue cannot be left out, stressing that he will strive to live legacies that will be emulated by other leaders. The Governor-elect expressed regrets over the collapse of industries in the state and restated his resolve to revive ailing industries as well as establish new ones as part of his administration’s plan to tackle unemployment. The former Minister of State for Trade, Industries and Investment also promised to create an enabling environment for agriculture to thrive in

the state by encouraging local processing of agricultural products and encourage private-sector participation in the quest to boost the economy of the state. Meanwhile, the Senate President, David Mark has congratulated Governor-elect of Benue state, Dr. Ortom over his victory during last Saturday’s polls. Senator Mark in the congratulatory message to the governor-elect, made available to New Telegraph in Makurdi, praised him for his tenacity and doggedness throughout the electioneering period. He implored Dr. Ortom to be magnanimous in victory “as the father of all citizens of the state”. “I heartily extend my congratulations to you and your Deputy -Governor -Elect Chief Benson Abounu on your victory at the election. I urge you to be father to all citizens of Benue irrespective of political party affiliation. I am confident that you will bring your wealth of experience and administrative acumen to bear in the administration of the state for benefit of all citizens,” Mark stated. He reminded the incoming administration to initiate and promote pro-people projects in order to earn the respect and support of all citizens.

Governorship candidate concedes defeat Mohammed Kawu Bauchi

he Peoples Democratic Party (PDP) candidate in the just-concluded governorship election in Bauchi State, Hon. Mohammed Auwal Jatau, has conceded defeat to the governor-elect, Mohammed Abdullahi Abubakar. He said: “My defeat, was the will of Allah.” Abubakar, the candidate of the All Progres-

sives Congress (APC) in the elections emerged winner, polling a total of 654,934 votes against Jatau’s 282,650 votes. Jatau, a member of the House of Representatives representing Zaki Federal Constituency, told journalists in Bauchi that though his expectation was to win the election when Allah ruled otherwise. He said that he accepted the outcome of the election as an act of

Allah. “It is the will of Allah, because only He gives power to whosoever He likes at whatever time He wishes,” Jatau said. The defeated Bauchi PDP governorship candidate revealed that he had called the Governorelect on Sunday night to congratulate him on his victory at the polls, stressing that he did that in the spirit of sportsmanship. “I have since accepted the results of the election

as declared by INEC, and even called the winner late on Sunday to congratulate him. This was in the spirit of sportsmanship because in every game, there must be a winner and a loser,” he said. The PDP flag-bearer prayed for the success of the incoming administration in the state. “Though we lost out this time around, there is always another time insha Allah.”

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WORLD | News

FG may review impact of N600 billion aviation fund lExpert calls for probe of N90 billion BASA, failed planes purchase Wole Shadare

here are indications that the President-elect, Gen. Muhammadu Buhari, would assess and review the civil aviation transformation program of the present administration, which has expended well over N600 billion on intervention in two years on both public and private operators in the sector. This is coming as former Commandant, Murtala Muhammed Airport, Lagos and aviation security consultant, Group Capt. John Ojikutu (rtd) stated that whatever is the outcome of the review of the programme, government policy on the Nigeria Civil Aviation Transformation should de-emphasize the hold of the ministry on the management of the aviation parastatal, so as to allow for the efficient development of the sector’s infrastructures and for the effective management and operation of the services provided especially by the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA). Ojikutu, in a congratu-

latory letter to Buhari disclosed that the policy should also in the main, allow the regulatory agency, the Nigerian Civil Aviation Authority (NCAA), to have the requisite autonomy to function in accordance with the laws that established it without undue interference from the ministry. According to him, the NCAA must be encouraged to develop capabilities to adequately have resources and management to carry out safety and security oversight responsibilities with the enforcement of the National Civil Aviation Regulations on both the public and private operators. He reiterated that it was also very expedient for the NCAA to urgently establish a Directorate of Aviation Security as a major part of the resources it requires in its management of over 22 airports and over 100 airlines and aircraft operators. His words, “With a national economy gasping now for breath, and at the edge of the cliff, the Nigerian aviation industry has no financial or commercial regulation to firm upon its management, yet the ministry of aviation

believes it has made a difference with the airport terminal building remodelling”. Lamenting government’s financial intervention in the sector without much success, Ojikutu further disclosed that within a year in the life span of this present administration, government through the ministry of aviation intervened in the sector with about N300 billion from the Central Bank of Nigeria (CBN) through the Bank of Industry (BOI) to bail out private airline operators from debts and bank loans. He stated that it has taken about $60 million or N10 billion from the Bilateral Air Services Agreement (BASA) fund for the remodelling of some unviable airports and has borrowed yet $500m or N80 billion from China to buy aircraft to establish a national carrier which it planned to handover, including the remodelled airport terminal buildings, to private individuals who are mainly government sponsored investors and who are not well grounded in aviation management and operations”.

Presentation of 2015 budget, PIB reports stalled at Senate Chukwu David Abuja

he absence of the Chairmen, Senate Committees on Appropriations, as well as Joint Committee on Petroleum (Upstream, Downstream and Gas), Senators Ahmed Maccido and Emmanuel Paulker respectively, yesterday frustrated the presentation of the reports of the 2015 Appropriation Bill and the contentious Petroleum Industry Bill (PIB). This was the third time the PIB would be suffering such setback since this last quarter of the Seventh Senate. The last two occasions it was scheduled to be laid, the Chairman of the Joint Committee on Petroleum (Upstream, Downstream and Gas Resiurces), Senator Emmanuel Paulker was absent from the Chamber, leading to the deferment of the report.

Consequently, the Senate Leader, Senator Victor Ndoma-Egba, who moved the motion, calling on the Chairmen to lay the reports, also moved another motion that the two reports be deferred to another legislative day. The Senate had last month, approved the report of the National Assembly Conference Committee on the 2015-2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) which recommended US$53 per barrel of crude oil benchmark and exchange rate of N190 to US$1. The Senate, however, received the 2015 Federal Capital Territory (FCT) and Niger Delta Development Commission (NDDC) budgets. In separate letters sent by President Goodluck Jonathan and read by the President of the Senate, Senator David Mark, the President noted that the 2015 draft FCT statutory budget proposal was pursuant to Section 299 of

the 1999 Constitution (as amended) and called on the lawmakers to expeditiously pass the budget. Specifically, the 2015 NDDC budget estimates is put at N299,526,463,156.12k. This is N23billion less than the 2014 budget which was N322,600,000,000.00k, representing a decline of 7.1 per cent of last year’s budget. A breakdown of the proposed budget put personnel expenditure at N16,133,370,000.00k; recurrent expenditure, N10,423,031,000.00k; internal capital expenditure, N1,879,076,000.00k as well as capital projects development expenditure of N271,089,900,000.00k. Sources of revenue for the proposed budget include: revenue brought forward (N10bn); Federal Government contribution (N70bn); unpaid arrears by Federal Government (N20bn); oil companies contribution and others (N160bn); ecological fund (N40bn) and other internally realised income (N100m).

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Iraq ‘retakes 25%’ of IS territory

slamic State (IS) has lost more than a quarter of its territory in Iraq since the US-led coalition air campaign began in August, a Pentagon spokesman says. Col Steve Warren said it was too early to say the tide was turning, but that air strikes and Iraqi ground forces had “unquestionably inflicted some damage”. IS took over swathes of Iraq and Syria last June. The announcement came ahead of talks between Iraq’s prime minister and US President Barack Obama in Wash-

ington. Iraqi PM Haider alAbadi wants the coalition to step up its air campaign against IS. Syria ‘unchanged’ Col Warren told a news conference on Monday that IS had lost 25% to 30% of its territory in Iraq, equating to 12,950 to 15,540 sq km (5,000 to 6,000 sq miles). The frontline had been pushed either west or south in the provinces of Irbil, Babil, Baghdad and Kirkuk, he said. “Among other strategic infrastructure and sizeable towns where [IS] has lost territory are

Mosul Dam, Zummar and the vicinity of Sinjar Mountain.” Analysis: Jim Muir, BBC News, Beirut There has been a huge contrast between the lightning advances scored in Iraq by IS last summer, and the painfully slow process that has seen some of that ground recaptured. IS militants have put up a fierce defensive struggle, and made advances a deadly affair. Because of that, each setback they have faced is significant even if some of lost territory is not as strategically important as Mosul Dam and Tikrit.

Iraqi government forces regained control of the northern city of Tikrit earlier this month

Ebola: Schools reopen in Sierra Leone

he government hopes that the studying time lost by the country’s 1.8 million children can still be made up. The United Nations Children’s Fund (Unicef) says that the reopening of Sierra Leone’s schools marks “a major step in the normalisation of life”. New cases of Ebola continue to be reported in Sierra Leone but numbers are declining. The BBC’s Umaru Fofana reports from the capital Freetown that the pupils are “really excited” to be going back despite

concerns about Ebola. To allay fears and ensure that there are no new Ebola cases, the first day at school will be spent on Ebola education and going through basic hygiene rules. Unicef has trained 9,000 teachers in Ebola prevention and is also supplying hand washing facilities to every school. But some schools in the east of the country contacted by our correspondent said that they had not yet received new teaching materials or even the health and safety gear that was promised.

Remember There will also be the chance to remember friends and colleagues who died from Ebola. Secondary school teacher Nancy Banya told the BBC’s Newsday programme that after welcoming the children there will be a quiet time to reflect on the lives of “those friends who we lost”. There have been more than 12,000 Ebola cases in Sierra Leone with 3,831 people dying from the virus since the outbreak began in the country in May 2014, according to the World Health Organization.

Hidden cameras reveal airport workers stealing from luggage

nside a plane at Miami International Airport, baggage handlers are going on a shopping spree with passengers’ bags. What they don’t know is that they are being recorded on a hidden camera. The Miami-Dade Police Department set up the camera as part of an ongoing police investigation into luggage thefts by the very airport workers who are supposed to get bags safely onto planes. “It’s a problem we all

face,” said police Lt. Pete Estis. “We will continue to be proactive until we can see that the claims of pilfering through luggage will actually decrease.” And these insider thefts just don’t happen in Miami. A CNN analysis of passenger property loss claims filed with the TSA from 2010 to 2014 shows 30,621 claims of missing valuables, mostly packed in checked luggage. The rest occurred at security checkpoints. To-

tal property loss claimed: $2.5 million. John F. Kennedy International Airport in New York topped the list of airports with the most claims of thefts from luggage, followed by Los Angeles International, Orlando International and Miami International, according to the data. The problem has been so serious at JFK that in 2013, El Al Airlines set up a hidden camera in a baggage hold.

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

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International Sport

League Rendezvous

Abridged league not good for football – Osho

World Championship: Lack of funds may stop table tennis team

Siasia upbeat on Flying Eagles, U-23 team

I left Liverpool to win Champions League – Suarez

Sport

Rackets & Bats

Did you know? That Arsenal have won eight successive Premier League games for the first time since March 2004 when they won 9 on the bounce.

Athletic federation declares war on doping

Charles Ogundiya

he Technical Committee of the Athletic Federation of Nigeria has concluded plans to ensure that the sport remains dope-free. In a release, the AFN’s Technical Director, Omatseye Nesiama, said the federation would embark on in and out of competition random doping control tests on any national athlete ranked in the top-20 in

Ogba

Adekunle Salami

former executive member of the Confederation of African Football and the Federation of International Football Associations, Dr. Amos Adamu, has urged the Nigeria Football Federation to urgently name a substantive coach for the Super Eagles. Adamu said the recently conducted draw for the 2017 African Cup of Nations qualifiers was enough to make the NFF expedite action on the issue of hiring a head coach for the Super Eagles. He noted that the dwindling fortune of the senior team in recent time was due to the problem of coaching which has been dragging in the past eight months. Eagles are now placed eighth in African and 45th in the world in the latest rankings released by FIFA.

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

their various events. Failure of any athlete to present himself/herself for test will attract punishment. All athletes and coaches are advised to familiarise themselves with the IAAF AntiDoping Regulations and the applicable sanctions for every doping violation. Meanwhile, athletes have underscored their readiness for today’s final selection trials for the Africa Youth Athletics Champi-

onships and the AFN second AllComers Competition. Some of the athletes who spoke with our correspondent said they were battle ready for the trials. “I am good to go,” said Fasasi Rilwan, who was part of the Team Nigeria that came third at the Kenyan National Relay. “I am looking forward to the big one in the Bahamas next month. “I am enjoying my time

with the senior team, so my target at the trials will be to be part of the contingent.” On her part, Aniekeme Alphonsus, said her target in Lagos was to be part of the team going to represent Nigeria at the second edition of AYAC in Mauritius. “I am going to compete with the best around the country, I can tell you that I am in top shape and ready to win the trials,” she said.

Eagles need a coach urgently –Adamu

“The qualifying series for the 2017 Africa Cup of Nations is barely six weeks away, yet the national team has not taken any definite shape. The NFF must act fast on the issue of coaching. It is ridiculous that we do not have a coach till now. We need one urgently for the Super Eagles to take shape,” Adamu said. The football administrator kicked against the employment of a foreign manager for the Eagles due to financial reasons. “The NFF at the moment cannot afford a foreign coach as the budget is not in place. I am aware that the football body has been prosecuting Nigeria’s participation in competitions with borrowed money,” he stressed. Dr. Adamu is of the opinion that Nigeria cannot afford to miss out in two consecutive editions of the continental football showpiece. “Nigeria’s path to greatness again is long and tortuous and the only way we can realise that goal is through coordinated approach. Anyone that fails to plan is already planning to fail. We must take every competition seriously,” he said. He frowned at the early elimination of Nigerian clubs from the CAF Champions League and the uncoordinated plans that saw Dolphins being kicked out of the CAF Confederation Cup via walkover.

Adamu also commented on the rave of the moment, Taiwo Awoniyi, whose brilliance saw the Flying Eagles becoming African champions in Senegal last month and also propelled

Tokelo Rantie of South Africa vying for the ball with Nigeria’s Godfrey Oboabona INSET: Adamu

the U-23 team’s qualification for the All Africa Games with two goals against Zambia last Sunday. He noted that the player could be in the Super Eagles,

but that he needed to remain focused and not allow the current attention get to his head. “He must learn to sustain success; else he will just be like a flash in the pan,” Adamu added.

Sport

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Siasia upbeat on Flying Eagles, U-23 team Ajibade Olusesan

oach Samson Siasia has expressed confidence in the current squad of the Flying Eagles and U-23 Eagles which he said will form the bedrock of the future Super Eagles. With the Super Eagles going through a rough patch at the moment, the current U-23 Eagles coach added that current signs show that the former African champions will rise again.

“What we have now is goodfor the individual teams (U-20 and U-23) and also good for the country. “The quality of players coming through now is encouraging and I think it will show in the Super Eagles soon. “A lot of these boys will make up the Super Eagles team in the nearest future and that is a good thing because it will make our team stronger. “We just have to be a little

patient and give the boys some time and I believe they will get to that level,” he said. Siasia further stressed that, “There seems to be a lack of real quality in the current Super Eagles side, which has been identified as the reason for the team’s recent struggles. But with the quality of players coming through from both agegrade teams, especially the Flying Eagles, it gives some hope of a better future.”

CAF: Glo rues Enyimba, Kano Pillars’ ouster •Seeks support for Warri Wolves

itle sponsor of the Glo Premier League, Globacom, has expressed concern over the early exit of Kano Pillars and Enyimba of Aba after both sides were eliminated from the ongoing CAF Champions League. Pillars and Enyimba lost out in the second round to teams from Algeria and Egypt respectively in what observers blamed their inadequate preparedness for the continental challenge. In a statement in Lagos on Tuesday, Globacom expressed concern at the clubs’ early ouster from the lucrative Champions League, saying Nigeria had lost some prestige in the process. “We believe Kano Pillars and Enyimba have the pedigree to go far in the compe-

tition having both won the Glo Premier League between them in the past five years,” the statement said. “The situation can only be described as unfortunate, especially after the clubs participated in the recently concluded Super Four competition which was expected to put them in shape for local and continental tournaments this season,” it added. The telecoms provider, however, expressed delight that Warri Wolves are still in contention for the CAF Confederation Cup glory after dispatching Dedebit FC of Ethiopia to move to the next round. “Wolves are the shining light at the moment and we wish to commend the team while urging its management and coaching crew not to re-

Nigeria’s Odion Ighalo battling for the ball with an Uganda player

Okocha influenced my career, says Iwobi Emmanuel Tobi

Ikhana

lent in their effort to go all the way in the competition. We also want to call on the Delta State government and Nigeria Football Federation to continuously give the club adequate support,” the statement further said.

DStv League: Union Bank look to end losing run Ifeanyi Ibeh

eneral Manager of Union Bank basketball club, Babatunde Popoola, has charged his players to end their poor start in the 2014/2015 DStv Basketball Premier League season when they take on the Oluyole Warriors on Friday. The Stallions remain in search of their first win of the season following back to back losses to Customs and Lagos Islanders. But Popoola, who is

also the Secretary General of the Nigeria Olympic Committee, has stated that his side’s poor run is unacceptable to the club’s management, and has charged his players to boost their chances of securing a berth to the playoffs by embarking on a winning run, starting against the Oluyole Warriors. Popoola, who blamed his team’s unimpressive form on the absence of head coach, Ayinla Johnson, who was away on assignment with the

national team, but has since returned, equally called on his team’s supporters to continue to back the Stallions in their bid to secure a playoff spot in the Atlantic Conference of the DStv Premier League. Three other matches will take place on Friday in the Atlantic Conference, while four games will hold in the Savannah Conference top of which will be the encounter in Abuja between FCT Rocks and defending champions, Kano Pillars.

rsenal midfielder, Alex Iwobi, has stated that former Super Eagles captain, Austin Okocha, played a significant role in his football career as he strives to be a better player. The 18-year-old, who is awaiting FIFA’s clearance in order to make his debut for Nigeria after recently pledging his allegiance to the country, is hoping to follow in the footsteps of the ex-Bolton Wanderers icon. The former England youth international shone in the 4 - 1 win over Stoke City a week ago by netting his first - ever hat-trick for Arsenal’s Under 21 squad. “He’s a brilliant player, a legend for Nigeria and a legend in the Premier League,” Iwobi told arsenal.com. “He’s influenced me because he’s taught me a lot of things, he’s been through a lot of things in his career. “He’s told me what to

Iwobi

do, how I should do things, and has been a big inspiration to me.” The teenager added: “It would be nice to be like a young Jay-Jay as he was very skilful and an attractive football player. “I would like to base my game around him but I’d also like to have that unique game. “He says, ‘don’t be shy to express yourself, always be yourself. Listen to your coaches but try to be yourself at the same time’.”

Kanu backs Awoniyi for U-20 World Cup success Emmanuel Tobi

Union Bank’s Stanley Eze going for a dunk against Lagos Islanders during the DStv Basketball League at National Stadium, Lagos. Islanders won 59-54 points. Photo by DStv.

igeria football legend, Nwankwo Kanu, has tipped Flying Eagles star striker, Taiwo Awoniyi, for success at the U-20 World Cup in New Zealand. Awoniyi was the twogoal hero as Nigeria edged Zambia 2-1 at the weekend to reach the 2015 All-Africa Games football tournament. Part of the African youth championshipwinning team last month, Awoniyi opened and closed the scoring for the ‘Dream Team’ at

the National Heroes Stadium in Lusaka. Friday Samu levelled 17 minutes from time for Zambia, who entered the second leg of the final round qualifier hopeful of success having forced a 0-0 draw in Abuja. According to Kanu, “I watched him play for the Golden Eaglets at the U-17 World Cup and recently at the African Youth Championship. I advised him to be focused because he is our hottest kid on the block now and if he keeps doing his best he will be a star.”

Awoniyi

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NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

Guardiola wary of Porto

I left Liverpool to win Champions League – Suarez

Wednesday’s matches FC Porto vs Bayern 7:45pm PSG vs Barcelona 7:45pm

Suarez

uis Suarez says he joined Barcelona after realising he would not win the Champions League with Liverpool. Suarez, who left Anfield last summer in a £75 million move, said joining Barcelona was “a dream come true” and, ahead of Wednesday’s quarter-final first leg against Paris Saint-Germain, is delighted to be at a club in the latter stages

of the Champions League. “I’ve always wanted to play at Barcelona, it was a dream come true,” Suarez told Uefa. com. “Of course the allure of winning the Champions League was part of the reason I joined Barca. They are always a candidate to win it. “That’s a plus here, as the clubs I’ve played for before didn’t really have the chance to win big European trophies

- maybe a domestic league or cup at best. “Playing in a team like this, where all the players want to win every match and everything, that is a sign that it’s all about silverware - whether it’s the Champions League, La Liga or whichever trophy’s available. “We have a chance of making the Champions League final this season.”

Cantona backs United to win title next season

anchester United legend Eric Cantona has backed the Red Devils to learn from their mistakes of this season and win the Premier League next term. Cantona, who helped the English giants to four successive Premier League titles during his five-year spell at Old Trafford from 1992 until 1997, told reporters in Shanghai: “Sometimes you have a season when you have to lose games and you finish fourth, fifth. But it’s a great club. It will be at the top of the table. Next year, they can win the league. “With a manager from Holland, it seems to be important for Manchester United, because it’s the same kind of philosophy for the game: Holland and Manchester United.” Arsenal legend Martin Keown, meanwhile, believes that the Gunners pose the most

Tuesday’s press conference. “We won’t need just one game to get through, we’ll need two. In 99 per cent of our games, the opponent reacts to our pressing game by playing long balls. “Porto are different, they aren’t a side who counter-attacks, they want to play. “They also have a good pressing game, can switch well, often shift their game and are outstanding in one-on-ones. “We will need a top performance, both in defence and attack.”

Sprinter challenges Walcott, Bellerin • Stakes £30,000 on race

op British sprinter Richard Kilty says he is willing to bet £30,000 that he can outpace Arsenal speedsters Hector Bellerin and Theo Walcott over any distance they fancy. He has laid down the gauntlet following recent media reports stating that full-back Bellerin has overtaken England winger Walcott as the fastest man at Arsenal over 40 metres. Bellerin reportedly clocked 4.42 seconds for the distance but Kilty is sceptical that the timing is accurate. And his doubts appear to be based on fairly solid foundations, as fastest man of all-time - Usain Bolt - did not reach the 40m mark in 4.42 on the day he

set the world record for 100m. The 25-year-old Kilty, who is the world and European champion at 60m, is now trying to set up a winner-take-all showdown with the Gunners duo. He wrote on Twitter: “Media claiming @HectorBellerin can run 4.42 over 40m. Absolutely no way. Are these journalists complete morons! “I will put £30,000 on the line to race @HectorBellerin & @ theowalcott any sprint distance, any time, any place, anywhere “The race will be over very quick. So, if they put their money down, I will gladly show everyone they cannot sprint as fast as the media claim.” Bellerin and Walcott have yet to respond to the challenge.

Cantona

threat to Premier League champions elect Chelsea next season. Keown, who played when the Gunners last won the title in 2004, told The Guardian: “Chelsea will win it now but if you ask them next season they won’t fear anyone but they will be aware of Arsenal.

They will want to challenge next season and they will want to start well next year. “They need to strengthen in one or two positions but I’m not talking about wholesale changes which some others may have to make if they want to compete.”

NBA: Oklahoma keep playoff bid alive he Oklahoma City Thunder kept their playoff hopes alive with a 101-90 victory over the Portland Trail Blazers at the Chesapeake Energy Arena on Monday night (Tuesday morning Nigerian time). Russell Westbrook contributed 36 points, 11 rebounds and seven assists to hand the win to Oklahoma, who need to

ep Guardiola says his injury-hit Bayern Munich must expect surprises at FC Porto in Wednesday’s Champions League quarterfinal, first leg, clash. Guardiola is wary of Bundesliga giants Bayern taking Porto lightly, especially as the hosts are missing top-scorer Jackson Martinez, who is out with a groin injury. “Anyone who reaches the Champions League’s quarterfinal plays at a high level. Porto are a top team and I was completely surprised by their level,” said Guardiola in

beat the Minnesota Timberwolves on Wednesday and hope that the New Orleans Pelicans lose to the San Antonio Spurs to clinch eighth spot in the Western Conference. There was no slip-up from the Pelicans as Anthony Davis stole the show once again to guide his side to a 100-88 triumph over the Minnesota Timberwolves.

Walcott (left) in action for Arsenal

UFC champ backs Pacquiao to beat Mayweather

Pacquiao

FC women’s champion Ronda Rousey has pledged her support to Manny Pacquiao ahead of the Filipino’s megafight against Floyd Mayweather Jr next month. The 36-year-old will take on the undefeated American in the ring at the MGM Grand Garden Arena in Las Vegas on

May 2, in what has been dubbed as the biggest fight of the century. During a session at Pacquiao’s training camp in Los Angeles, Rousey, who is the undefeated UFC bantamweight title holder, popped in to give her backing and pose for a photo with the boxer. Pacquiao uploaded

the picture to Instagram, along with the message: “Thank you for visiting me @rondarousey and for your support. God Bless!” Reports emerged last month claiming that Rousey has received a free ticket to the fight from boxing promoter Bob Arum.

Sport

WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Nigerian League Rendezvous

with charles Ogundiya

charlesog2001@yahoo.com,

08098042287

Abridged league not good for football – Osho

upreme Court FC of Abuja coach, Fatai Osho, has described as a scam the move by the Nigeria National League to abridge the 2015 season. Speaking with our correspondent, the former Remo Stars coach said such proposal could take football back to the stone age. “There will be no room to develop young players that will be useful to our nation in the future,” Osho said.

“Every home match will be seen as war and there will surely be a lot of money being thrown around, which is not good for our football. “If the Nigeria Professional Football League that involved 38 matches did not go for abridgement, then there is no basis for the NNL that will play only 30 matches to contemplate that move. It’s a lazy idea from some tired minds.” The coach advised that

the plan should be jettisoned and if need be, the league body could introduce midweek games. The secretary of the NNL, Lawrence Katken, said there would be a meeting with the clubs on Wednesday (today) in Abuja where many pending issues would be sorted out. The NNL had proposed an abridged league of four groups with eight teams in each group with the group winners gaining promotion to the NPFL.

Afelokhai

Kano Pillars ready for Enyimba, says Afelokhai

Adepoju: Don’t write off Shooting Stars

hooting Stars of Ibadan midfielder, Taofeeq Adepoju, has sounded a note of warning to the club’s opponents not to underrate the Oluyola Warriors. He said whoever tried to judge the team by their recent poor performance would be in for a big surprise when the league resumes this weekend. “We have been playing below our capacity as a

team, but I can assure our fans that the team will still do well this season,” he said. “We have been training hard in preparation for the resumption of the league this weekend. Nobody should write the team off now; whosoever does so is at his own peril.” Shooting Stars remain the only team yet to record a point in the three-weekold league, losing their first

Adepoju

two games against Wikki Tourists and Heartland.

ano Pillars are hopeful the team can put their CAF Champions League disappointment aside when they come up against Enyimba on Sunday. The Nigerian Premier League giants were dumped out of the continental showpiece at the beginning of April after going down 5-2 on aggregate to Moghreb Tetouan. Pillars will now turn their focus to the Nigerian top flight, where they take on fellow NPL giants Enyimba at the Sani Abacha Stadium this weekend, and goalkeeper Theophilius Afelokhai is hoping for a quick turnaround from the team. “With due respect to other teams in the Glo Premier League, Pillars and Enyimba

World Championship: Lack of funds may stop table tennis team Ajibade Olusesan

eam Nigeria may not attend the International Table Tennis Federation World Championship slated to serve off next week in China due to financial difficulties. New Telegraph reliably learnt that the Nigeria Table Tennis Federation is frustrated by the failure of the National Sports Commission to release money for the prosecution of the tournament. The tournament will begin on April 23, but our correspondent learnt that the federation was yet to start

serious preparation and is still in doubt on the possibility of making the trip. A source in the federation informed our correspondent that the NTTF President, Enitan Oshodi, has been putting pressure on the sports ministry in Abuja to release the funds. The source said: “We faced the same problem when we were preparing for the last Africa Championship, the ministry did not release money until the die minute and this affected the performance of our players. Our president has been trying so hard to get funds elsewhere

and he is also putting pressure on them in Abuja to make something happen before it is too late.” Top star, Aruna Quadri, expressed his frustration in an exclusive interview with our correspondent from his base in Portugal, saying that the development is demoralising. He said: “I travelled to another city in Portugal to process my visa to China and when I called the federation secretary this morning (Monday), she told me the ministry is yet to approve money for the trip. I will now be here for about 15 days, pay

with Ajibade Olusesan 0706 537 7853

Djokovic through in Monte Carlo

Quadri

for the hotel accommodation and other expenses. We are going there to represent our country and if the ministry refuses to release money that means we are going to spend our personal money to go there. It is tough.”

We have achieved our objectives with CBN juniors – Kienka

Kienka

he proprietor of International Tennis Academy and the organiser of the CBN Junior Tennis Championship, Godwin Kienka, has said that the tournament has achieved its major objectives which is to produce talents that will rule the game in the country. Kienka told our correspondent in an interview that many of the tournament’s products have become top ranked players in the senior categories.

He said that the core objective of the programme was to identify talented kids and nurture them to stardom and he was happy that many of those kids are now rubbing shoulders with senior players. “More than half of the players in the Top 10 of the national rankings are products of this programme. Sylvester Emmanuel who won the Masters last year was the winner of the tournament seven years ago in the

are the two big clubs in Nigeria and any game between the two sides will always be a cracker,” he told SuperSport. “My teammates are looking forward to the game because we want to show our fans that they can still believe in us despite the problems of the last two weeks. “This will be our second game in the league due to the unfortunate robbery incident. We beat Bayelsa United and I believe the same fate awaits Enyimba. “We are battle ready for them, we won’t give up our title yet, the aim is to win it and get back into the continent so that we can apply the lessons we gained from our failure this year in the Champions League.”

U-10 category, same applies Moses Michael who won the last Governor’s Cup. “Tennis is a game for teenagers and we used to have too many players who were over 30 years old in the senior category and we are happy that this tournament has been able to produce players who are now replacing those ones,” he said. The press conference to herald the 9th edition of the tournament will take place in Lagos on Friday.

s he bids to regain the Monte Carlo Masters title he won in 2013, Novak Djokovic started with a comfortable win over Albert Ramos. Djokovic sailed into the third round of the Monte Carlo Masters with a 6-1 6-4 victory over qualifier Albert Ramos on Tuesday. The Serbian top seed is gunning for his fourth Masters title in a row in Monaco, which would see him become the first man to win the first three ATP World Tour Masters 1000 events of the season. Djokovic, who last won this event in 2013 to break eight years of Rafael Nadal’s dominance, outnumbered his opponent by three breaks to one as he dominated the opening set, while a single broken serve was enough to earn him the second - serving to love to put the match to bed. The world number one will now meet the winner of the match between Bernard Tomic and Andreas HaiderMaurer in the next round.

Sport 55

NEW TELEGRAPH WEDNESDAY, APRIL 15, 2015

Africa Tourney: Beach Eagles wallop Seychelles 10-1 •Battle Egypt today Emmanuel Tobi

igeria Beach Eagles began their campaign in the African Beach Soccer Championship on a bright note with a 10-1 thrashing of host Seychelles on Tuesday. Warri Wolves forward, Abu Azeez, got a brace alongside Ogbonna Emeka and Ikechukwu Ibenegbu as Nigeria led 7-1 after the second period. Alsoon target were Isiaka Olawale, Victor Tale, Ohwoferia Emmanuel and Taiwo Adams while Robin Mathiot

got the Seychelles’ lone goal. The hosts played with high energy and did not play poorly, especially considering this was their first championship, but the Nigerian veterans helped carry them to the big win. The win gives Nigeria three points and the top spot in Group A. Nigeria will next face Egypt on Thursday, hoping to secure another win and more points. Seychelles will face another tough opponent, Cote d’Ivoire, on Wednesday but they will surely use what they learned in Tuesday’s

match to surprise their future opponents. Egypt surprisingly held Ivory Coast to a 3-3 draw in the second match of Group A. Meanwhile, Ghana were beaten 9-4 by Madagascar in their opening Group B match at the championship. The Black Sharks were outclassed by the new COSAFA Cup champions. Madagascar top the Group on goals difference after defending African champions Senegal beat Morocco 7-3 earlier. Senegal and Madagascar meet on Wednesday and

Chrisantus

Azeez Abu trying to go past two Seychelles players

More fans set to win Heineken UEFA CL final trip

ollowing the raffle draws that Heineken held across the country in recent weeks, more winners will emerge at Heineken House Lagos tonight. A total of 13 lucky winners have already been awarded all-expense paid trips to Heineken’s world-famous Ibiza Finale, where fans converge from all over the world to watch the UEFA Champions League final match. They will also enjoy lavish beach parties on the exotic island of Ibiza, a lush tourist destination off the coast of Spain. These winners were amongst the total of over 3000 participants who took part in the raffle draws across Nigeria. Many others took home various premium quality consolation prizes. The exquisite Heineken House Lagos is open every UEFA Champions League match night to Heineken fans to enjoy the tournament match action and entertainment performances, in the company of special guests. This evening, the house will host a special draw in which more Heineken fans will win trips to Ibiza. In addition to these exotic trips, Heineken is also marking its ninth consecutive year of UEFA Champions League sponsorship by rewarding Nigerian fans with 90 premium prizes in 90 minutes: one prize for every minute of a every UCL match game. Nigerians simply need to look under the crown corks of the Heineken bottles.

Awoniyi should learn from my mistakes –Chrisantus

ormer Golden Eaglets star, Macauley Chrisantus, has warned youngster, Taiwo Awoniyi, to be careful on his next career move. Awoniyi followed up a spectacular showing at the African U-20 Championship with a brace for Nigeria in an All Africa Games qualifier against Zambia that sealed Nigeria’s qualification. The lanky striker who was also voted the Most Valuable Player at the last pre-season tournament, Super 4, has been linked to several clubs in the past months. However, AEK Athens forward, Chrisantus, who is picking up the pieces of his once promising career in the Greek second division, reckoned he was in such a position way back 2007. “Awoniyi’s case reminds me of mine in 2007 after picking up the top scorer plus the silver

MLS club chase Emenike

uper Eagles striker, Emmanuel Emenike, could be heading to America’s Major League Soccer instead of the English Premier League this summer, according to milliyet.com.tr. The Fenerbahce striker, 27, was linked with a move to Tottenham during the winter transfer window, with his agent revealing at the time that the North London outfit were one of a number of teams interested in his client’s signature. A summer exit now looks to be on the cards and milliyet.com.tr reported that the Montreal Impact are one club looking to take advantage of his recent plight. The MLS side are desperate to add some firepower to their squad after failing to replace the now-

Emenike

retired Marco Di Vaio in the offseason and have also seen rookie sensation Cameron Porter ruled out for the rest of 2015 with a torn anterior cruciate ligament. Known for his amazing blend of speed and strength, Emenike would be available for a cut-price fee of 6 million euros, according to the Turkish national news site, and is said to be looking for a wage package of around 2 million euros-per-annum – not far off what Di Vaio was earning in guaranteed compensation during his final season with Montreal. The 27-times capped forward has struggled in front of goal this term, netting just four times in 28 appearances, but his career scoring record has otherwise been more than impressive.

ball in the CAF U-17 and FIFA U-17 World Cup, I had so many offers and everybody liked me,” he told SL10.ng “But I must admit my first move to Hamburg at that time wasn’t the best for a young player and I’m just getting back to my level so his next move might determine his career”. “He is a smart boy so he must listen to himself first and be very honest in choosing his next destination, for now he needs top flight games more than money”. Meanwhile, Awoniyi has said he hasn’t allowed his recent exploits get to his head and insists he’s working extremely hard to keep improving himself. “I just want to keep playing football and keep scoring, that is what I want to do,” he said. “It is my job to score goals and that is what I want to do every time I play and thank God I did that on Sunday.

Buhari urged to boost water sports Ifeanyi Ibeh

ommodore of the Navy Sailing Club, Nigeria’s first indigenous sailing and boat club, Tunde Daramola has called on Presidentelect Muhammadu Buhari, to take sports, especially water sports, seriously as it is an avenue to keep the country’s restive youths busy. Although football is Nigeria’s number one sport, water sports accounts for over 40 gold medals at international championships such as the Olympic Games and the All Africa Games, and Giwa has urged the incoming President to appoint capable hands to run both the Sports Ministry and the National Sports Commission. “This is the time for all sporting federations to be reorganised with a focus on getting the best hands to manage our athletes ahead of the Rio 2016 Olympic Games,” said Giwa. “All hands must be on deck to

Buhari

make it a glorious outing for Nigeria especially in water sports.” Giwa also lauded the efforts of the Nigeria Navy for giving the club the platform and enabling environment to operate, even as he called on sailors across the country to register for the Democracy Day race holding on May 29 at the club’s waterfront base in Navy Town, Lagos. The race will get underway at the Naval Base in Apapa, terminating at the Navy Sailing Club, Ojo.

On Marble

I attribute my success to this: I never gave or took any excuse. – Florence Nightingale

World Record

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Most unusual bridge: The Trans Tokyo Bay Motorway has visitors to Tokyo scratching their heads as it disappears half way across the gigantic Tokyo Bay. This 6.2 mile long motorway is part bridge part tunnel, with a gigantic floating car park right in the middle; talk about convenient parking!

A broken past and electoral resilience

igerians went to the polls on the 11th day of April, 2015 to elect Governors and members of the State Assembly. In most of the States of the federation, it was a consolidation of the democratic revolution ushered in on the 28th day of March, 2015 during the Presidential and National Assembly elections. The people trooped out to exercise their democratic franchise. The Gubernatorial and State Assembly elections recorded upset in a few states and in some others, the people affirmed and reaffirmed their voting pattern which they established during the Presidential and National Assembly elections. Unfortunately, the political elite in some of the States are still trapped in the past and have refused to join the historic train of free, fair and transparent elections. They still believe that they can kidnap and keep the sovereign power of the Nigerian people to determine who and in what circumstances they would be governed. They still snatched ballot boxes, Smart Card Readers, ballot papers and other election paraphernalia. They trained gun men that terrorized electoral officials, scared the voters away from the polling stations, diverted electoral materials and wrote results that have no basis in law and reality. This should be expected because these are people that have never won a free and fair election. These are people that have never carried out issue based campaigns. These are people that shop in the market for political thugs that terrorize people and assist them to thwart the will of the people. It would have been surprising if they moved into the regime of credible elections without a fight. How then did we get to where we are and how can we sustain the momentum of the new reforms already in place? It is now part of our history that the Nigerian voters disappointed those that predicted the disintegration of the country. They disappointed those that programmed themselves to cover bloodbath and general lawlessness. They disappointed those that predicted religious and ethnic war among the different ethnic nationalities and religious groups. They disappointed those that ran to “comfort zones” believing that nobody could avert the doom that awaits the Nigerian people. It came at a cost though. The process had significant challenges especially with the Smart Card Readers introduced into the electoral process. We must acknowledge and sincerely too that some Nigerians were genuinely apprehensive about the use of the Smart Card Readers for the Presidential and National Assembly elections. Some people believed that we should have introduced the Smart Card Readers into our electoral process after a systematic test run using smaller elections. On the other hand, there were those that saw the Smart Card Readers as a deliberate design to end their long tradition of corrupting the electoral process and consequently opposed its use with everything at their disposal. Of course, the Independent National Electoral Commission succeeded in deploying the Smart Card Readers and it performed well in some States. The Card Readers had challenges in other States. Some of the challenges revolved around the anxiety of the operators, lack of sufficient training for the Presiding Officers and outright sabotage of the process by those mortally opposed to the use of technology in the electoral process. For the Gubernatorial and State Assembly

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Jega

Card reader

elections, the Independent National Electoral Commission stood firm and insisted on the use of the Smart Card Readers. Across the country, the process of accreditation was orderly. The Presiding Officers and other poll workers showed some level of understanding of the use of the Smart Card Readers and this aided the process of accreditation. In some of the polling units, those whose fingerprints could not be read filled the incident forms and were accredited. In some places where the Smart Card Readers malfunctioned, there was a quick turnaround in terms of maintenance and or replacement. It became clear that the poll workers received additional training on the use of the Smart Card Readers. It is also self evident that the Independent National Electoral Commission firmed up its transportation and deployment plans. They distributed sensitive and non sensitive materials to the various States and Local Governments in a timely manner. This minimized delays in the opening of polls. Most of the Polling Units opened for accreditation as early as 8am in the morning. Some of the Presiding Officers were at their polling units as early as 7.30am. This timely start up also led to timely accreditation of voters and minimized and eliminated the unacceptable rowdy situations that develop in some polling units due to late arrival of sensitive materials and insufficiency in the quantity of some election materials. The voters in most of the States maintained their engagement with the electoral process. In the rural areas of Nigeria, the turnout of eligible voters remained high while it dropped a little in some urban centers. Of course, the election recorded upset in some areas. Some places followed the traditional bandwagon route. Some voters retained, maintained and rewarded some incumbent Governors that had done well irrespective of their voting preferences during the Presidential and National Assembly elections. Some of the

voters punished Governors that refused to pay salaries. The voters grouped these Governors and their anointed candidates together and humiliated them. In some other places, the voters rejected the imposition and building of clannish and family oligarchy. In other places, people bowed to zoning arrangements and the son of the soil syndrome. Religion and ethnicity also defined the voting pattern in some States. In places like Kaduna, Sokoto and Lagos the voters sent a clear message of their preference for performers with pedigree, class and competence. It is rather unfortunate that in a place like Abia, some people are holding unto the will of the people and trying to abort the clear preferences of the people. Unfortunately, the security agencies did not provide adequate security during the movement of materials and officials from the Super Racks to the Polling units in places like Abia, Akwa Ibom and Rivers State and this led to the hijack of as well as diversion of personnel and electoral materials to unauthorized places. This also exposed Presiding Officers and other poll officials to avoidable risks as election riggers cornered, harassed and exposed them to violence. This is the reason for the violence in places like Akwa Ibom and Rivers State and the inconclusive election in Imo, Abia and Taraba States. It is also not acceptable that results sheets meant for elections should for any reason be missing before and during elections. The full weight of the law should be brought to bear on all those responsible for the diversion or misuse of the result sheets during the Presidential and National Assembly elections as well as the Gubernatorial and State Assembly elections. However, Political Parties and their candidates must know that Nigeria is now on a new electoral matrix. They should know that accepting the results of credible elections is now part of the new framework and values of the Nigerian people and

Election Petition Tribunals are not set up for or meant to supplant the will of the people expressed through their votes

signifies good electoral behaviour as a precedent worthy of emulation. While we encourage the citizens, Political Parties and their candidates to at all times insist on the triumph of the will of the people, it is equally important to emphasis that those who feel aggrieved about the outcome of the April 11, 2015 Gubernatorial and State Assembly Elections should follow the constitutional and legal routes in seeking redress. That is the path of sanity and that is the path of genuine electoral progress. The Nigerian people must also realize and be made to realize that electoral dispute resolution is an integral part of the electoral process. Parties and candidates aggrieved by electoral outcomes are obligated to use the due process of the law in ventilating such grievances. Election Petition Tribunals are not set up for or meant to supplant the will of the people expressed through their votes. Rather, they are meant to affirm the genuine wish of the people expressed through their votes and prevent usurpers from stealing and keeping the mandate of the people. The Chairpersons and the members of the various election petitions Tribunals already set up by the President of the Court of Appeal should therefore give judicial approval to the genuine winners of democratic elections based on the will of the people. They must resist inducements and blackmail aimed at using them to abort the genuine wish of the people or to affirm the illegal usurpation of the will of the people. We commend the voters in all parts of Nigeria for their exemplary conduct before, during and after the election. The voters showed resilience, enthusiasm and a good understanding of the electoral process. The past is behind us and we must move to then next phase of the electoral process based on the lessons of the past and the desire to do better in future elections.

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