Wednesday, april 22, 2015 binder1 by Newtelegraphonline

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Wednesday, April 22, 2015

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Vol. 2 No. 427

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N150

Jega dismisses claims of irregularities in Rivers elections }6

PenCom opens new investment window for funds Sunday Ojeme

he National Pension Commission (PenCom) has created more windows for investing accruals from pension funds, which now stand at

over N4.6 trillion. According to a Draft Regulation on Investment of the assets, released to guide Pension Fund Administrators (PFAs) and other investors, the funds can now be deployed into

the development of infrastructure nationwide. Before now, the funds have strictly been invested in quoted equities (ordinary shares, global depository receipts); Federal Government securities (FGN

Bonds and Treasury Bills); state/local government bonds; corporate debt securities (such as bonds, asset/mortgage-backed securities etc.); money market instruments; open/closedend funds; real estate in-

vestments; infrastructure bonds and funds, as well as private equity funds. About N2.7 trillion out of the N4.21 trillion pension fund assets has been invested in FGN Securities as at March 31, 2014 PFAs,

representing 63.39 per cent of the investable fund. The PFAs also invested N602 billion in shares on the Nigerian Stock Exchange (NSE), representing14.3 percent of the inCONTINUED ON PAGE 6

Jonathan quits Villa residence this week lRenovation scheduled for Buhari's occupation

Quick Read

Editorial

Time to reform the Armed }19 Forces Impeachment of Mimiko's }5 deputy begins

L-R: Dr. Ejike Orji; Dikeogu Chukwumerije; Sir Paul Chukwuma; Senator Chris Ngige; widow of Senator Uche Chukwumerije, Gloria; former Governor of Abia State, Dr. Orji Uzor Kalu; daughter of the deceased, Azuka; Chi Chukwumerije (back), Chaka Chukwumerije, Kelechi Chukwumerije and Mr. Obi Igwedibia, during a condolence visit by Kalu and Ngige to the Chukwumerije family in Abuja...yesterday.

Why president fired IGP lThe Buhari, Ekiti link lDIG Arase named interim police boss }2

News

WEDNESday, APRIL 22, 2015 NEW TELEGRAPH

Jonathan to quit official residence this week

resident Goodluck Jonathan will, this week, barring any last minute change, vacate his official residence at Aso Rock. This is to give room for construction giant, Julius Berger Plc, to commence extensive renovation work at the apartment, ahead of the inauguration of President-elect, Major General Muhammadu Buhari, on

May 29. Investigations revealed that Julius Berger has been given up to two weeks, beginning from next week, to complete the renovation, including furnishing of the official quarters. A top government functionary, who spoke on condition of anonymity, confirmed that Jonathan would move out within the

week to the Glass House located just next to his official residence. He said: "Julius Berger will commence renovation immediately and complete it in two weeks. President Jonathan will move to the Glass House also located just beside the official residential building where he will stay with members of his family until the swearing-in of the President-

elect." Jonathan and his family started packing their personal belongings out of the official residence shortly after Buhari was announced by the Independent National Electoral Commission (INEC) as winner of the 2015 presidential election. Early this month, buses loaded with luggage were sighted moving out of the

President’s official residence. One of the buses, a white 18-seater Hiace bus marked PF 6244 AL, was loaded with bags of different shades and sizes. It was not, however, clear where the buses were heading to. Further investigations revealed that the Federal Government has completed work on the renovation of the Defence House, lo-

Group Managing Director, UBA Plc, Mr. Phillips Oduoza; Chief Executive Officer, Seplat Petroleum Development Company Plc, Mr. Austin Avuru; Deputy Managing Director, FBN Capital, Mr. Taiwo Okeowo and Chief Finance Officer, Seplat Plc, Mr. Roger Brown, at the signing of credit facility to Seplat Plc, facilitated by UBA Plc and four other banks in Lagos

cated in Maitama District of Abuja where Buhari and the Vice-Presidentelect, Professor Yemi Osinbajo, are expected to temporarily move into with their families before the inauguration on May 29. According to the Presidency source, the President-elect and Osinbajo have already turned down the offer by the Presidency to relocate to the Defence House. However, spokesman for the All Progressives Congress Presidential Campaign Organisation, Mallam Garba Shehu, faulted the claim that Buhari and Osinbajo rejected the presidency's offer to relocate to the Defence House. "They were renovating (then). They just handed over the place a few days ago. There is no issue there," he said in a terse text message in response to New Telegraph's enquiry. Buhari is presently shuttling between his home town in Daura, Katsina State and Kaduna State where he has been having his meetings. After the inauguration of the President, Jonathan is expected to proceed straight to his private apartment. Buhari, on Monday, had to meet with the visiting President of Côte d'Ivoire, Allasane Quattara at the presidential wing of the Nnamdi Azikiwe International Airport, Abuja.

Why president fired Inspector General of Police Anule Emmanuel, Adesina Wahab and Emmanuel Onani

r. Suleiman Abba's 31-year-old career in the Nigeria Police Force (NPF) ended abruptly yesterday as he was kicked out as the Inspector General of Police (IGP). President Goodluck Jonathan dropped him, four years to his retirement age, without giving any reason. Presidential spokesman, Dr. Reuben Abati, who in a tweet announced Abba's sack with immediate effect, said the president had approved the appointment of Deputy Inspector General of Police, Mr. Solomon Arase, as the interim IGP. Abba last Tuesday attended the National Security Council meeting alongside the service chiefs with Jonathan presiding, where it was gathered he had to answer a series of questions on the conduct of the polls.

However, investigations by New Telegraph showed that Jonathan fired Abba for alleged disloyalty to his administration in the wake of the general elections. Abba will be remembered for the infamous role he played following the defection of House of Representatives Speaker, Hon. Aminu Tambuwal, to the All Progressives Congress (APC), during which apart from withdrawing the speaker's security aides, he superintended over the invasion of the National Assembly by the police to stop Tambuwal from presiding over a plenary session to consider the president's request for the extension of state of emergency declared in Adamawa, Borno and Yobe. It was gathered that Abba started fraternising with the APC, after the announcement of the party's candidate, Major General Muhammadu Buhari, as winner of the March 28 presidential election. New Telegraph learnt

that Abba had allegedly "switched allegiance" to the president-elect, perhaps in an effort retain his job. A highly-placed security source, who spoke on condition of anonymity, said the conduct of the sacked IGP, gave some officers cause for concern, considering the fact that loyalty and allegiance, "are total". He said. "Few days to the April 11 governorship and Houses of Assembly elections, the IG deployed many AIGs (Assistant Inspectors General of Police) to supervise elections in some states. "What landed the IG in trouble was his order that AIG Mbu (Joseph Mbu), who is in charge of Zone 2, Lagos, should supervise the exercise in Ogun. The question that arose was, why Ogun and not Lagos? "The IG was also seen as working against the tide, when he directed AIG Tunde Ogunshakin to supervise Rivers. Lagos and Rivers were really in con-

tention between the two parties (APC and PDP) and so his decisions were seen (rightly or wrongly) to be in favour of the opposition. This, I want to point out, is still an allegation." The source listed another "blunder" purportedly committed by Abba as his presence at a ceremony where the president-elect was issued his certificate of return by Chairman, Independent National Electoral Commissioner (INEC), Prof. Attahiru Jega. "It may have been a serious blunder for the IG to be present at the issuance of certificate of return to the president-elect. "Don't forget that this happened the same day or so when service chiefs were locked in a closeddoor meeting with President Jonathan. "I doubt if any sitting leader will excuse that action," the source said. Again, the IGP was said to have been among dignitaries who received Buhari at the Nnamdi Azikiwe

International Airport, Abuja, a few days after he was declared winner of the keenly-contested poll. This development, another source said, "was improper and inappropriate because until May 29, Jonathan remains the president and Commander-in-Chief of the Armed Forces." It was also learnt that Jonathan was not happy with Abba for allegedly giving tacit support to 19 APC lawmakers in Ekiti State who have been struggling to unseat the Governor, Mr. Ayodele Fayose, of the PDP. The former IGP, it was gathered, was accused of working in tandem with some chieftains of the APC to fuel the crisis in Ekiti State against the wish of Jonathan that peace must be maintained in all parts of the country after the elections. "This Ekiti Assembly crisis started anew and with sustained vigour after the result of the presidential election was

announced and Major General Muhammadu Buhari emerged as the president-elect." The source said: "It was clear that the former IGP had agreed to provide cover for the APC lawmakers to enter Ekiti State and go ahead with their impeachment plan." It said the president did not want crisis in the state "and therefore had to remove him to ensure law and order prevail and therefore maintain peace in the state and indeed all parts of the country." Abba, the 17th indigenous IGP, until his appointment in acting capacity on August 1 last year, was the AIG in Zone 7, Abuja. Abba, whose appointment was confirmed by the Senate in November 2014, succeeded Mr. M. D Abubakar, who retired after serving the mandatory 35 years in service. He is proceeding on forced retirement considering the fact that he still has four years before reCONTINUED ON PAGE 5

NEW TELEGRAPH WEDNESday, APRIL 22, 2015

Travel Advisory

WEDNESday, APRIL 22, 2015 NEW TELEGRAPH

International Flight Schedule Air France

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

Flight No. AF 513 AF 3822 AF514 AF513 AF514 AF3849

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

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

Amsterdam-Lagos Lagos-Amsterdam

KL587 KL588

13:15hrs 23:05hrs

20:00hrs 05:50hrs

KLM

ARIK AIRLINES

Lagos-London London-Lagos Lagos-New York

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

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

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

BRITISH AIRWAYS

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

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

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

EGYPT AIR

KENYA AIRWAYS

16:00hrs

Lagos-Kigali

11:15hrs

16:45hrs

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

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

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

14:00hrs

17:30hrs

22:35hrs 15:10hrs

06:00hrs 21:20hrs

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

hrs hrs hrs hrs hrs hrs hrs

01:00hrs

hrs

3:00hrs 14:00hrs

8:00hrs 19:00hrs

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

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

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

Lagos-Doha Flight Doha-Lagos Flight

QR 1414 (daily) QR 1415

14:55hrs 07:20hrs

23:45hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

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

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

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

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 16:00hrs

5:25+1hrs 20:20hrs

Lagos-Casablanca Casablanca-Lagos

AT738 AT 737

06:25hrs 02:15hrs

09:55hrs 6:00hrs

air maroc

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

12:30hrs

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

IBERIA

Abu Dhabi-Lagos

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

19:35hrs 23:45hrs

MEA 571 MEA 572

ETHIOPIAN AIRLINES

Lagos- Abu Dhabi

ETIHAD AIRWAYS

12:30hrs 18:00hrs

to Lagos)

UNITED AIRLINES

17:00hrs 4:40hrs

KQ 533 KQ 534

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

DELTA AIRLINES

11:00hrs 22:40hrs

Lagos-Nairobi Nairobi-Lagos

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

QATAR AIRWAYS

VS 652 VS 651

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

BA075 BA074 BA 082 BA 083

EMIRATES AIRLINES

Lagos-London London-Lagos

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

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

Lebanon-Lagos Lagos-Lebanon

VIRGIN ATLANTIC

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

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

ASKY AIRLINES

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

10:10hrs

10:50hrs

19:20hrs

21.50hrs

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

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

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

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

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

Local FLIGHT SCHEDULE ARIK AIR

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

AZMAN FLIGHT SCHEDULE

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

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

FIRST NATION AIRWAYS

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

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

AEROCONTRACTORS

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

MEDVIEW AIRLINES

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

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

News

NEW TELEGRAPH WEDNESday, APRIL 22, 2015

369,485 jobs created in Q4 2014 –NBS Abdulwahab Isa Abuja

he National Bureau of Statistics (NBS) has put the number of jobs created in the fourth quarter of 2014 across all sectors of the Nigerian economy at 369,485. In the report released yesterday by the bureau, 138,026 or 37.4 per cent were recorded in the formal sector; 4,387 or 1.2 per cent in the public sector and 227,072 or 61.5 per cent in the informal sector.

The formal sector experienced a decrease of 7,438 or 5.1 per cent from the 145,464 jobs recorded in the third quarter of 2014. The public sector also decreased by 1,348 or 23.5 per cent jobs from the total recorded in the third quarter, while the informal sector however increased from the previous quarter. According to NBS data, the formal sector of the economy generated 138,026 new jobs in the 4th

quarter of 2014. Further analysis of new jobs by cadres indicated that operative’s cadre recorded the highest number of jobs in the 4th quarter, rising from 49,246 employees in Q3 to 51,100 in Q4 of 2014, indicating an increase by 1,854 new employees or 3.76%. The Managerial Professional and Technical Cadre followed with 32,974 new jobs or 23.89 per cent of the total jobs generated

in the formal sector. The Clerical and Related Office Workers cadre remained third, with 27,169 jobs or 19.68% of the total. The cadre that recorded the greatest increase in jobs created between Q3 and Q4 was the ‘other cadre’, which went from 3,041 new jobs in Q3 to 8,589 new jobs in Q4, increasing by 182.5 per cent over both quarters. “In the fourth quarter,

2014, a total of 4,387 new jobs were recorded as against 5,735 in the third quarter. This implies a 1,348 or 23.50 per cent decrease in the numbers of jobs reported in the public sector in the fourth quarter, 2014. Disaggregated by gender, males constituted 3,112 or 70.94% of total new employees, while females took up 1,275 or 29.06% of the total new employees,” NBS data clarified.

Also, the bureau stated that the unoccupied positions in public sector in fourth quarter of 2014 at 71,856. Of the figures, 64,228 jobs or 89.38 per cent were full-time jobs while 7,628 or 10.62 per cent of the total employment gap were for part-time positions. On the basis of occupational group, education recorded the highest and lowest figures for unoccupied positions.

Why president fired IGP CONTINUED FROM PAGE 2

tirement, having enlisted in the Nigeria Police Force as a Cadet Inspector in 1984. The fate that befell Abba yesterday could be likened to what one of his predecessors, Mr. Ogbonnaya Onovo, suffered. Onovo was sacked by Jonathan on September 8, 2010, barely 14 months after his appointment. Onovo was sacked a few months after the Anambra State governorship election, which saw the return of Mr. Peter Obi for a second term. Another police boss Jonathan sack was Mr. Hafiz Ringim. Ringim, who was Commissioner of Police in Bayelsa State at a time when Jonathan was governor of the oil-rich state, was fired in January, 2012, less than three months to his mandatory retirement. With the appointment of Arase as acting IGP, Jonathan has worked with five IGPs, appointed four and sacked three. Arase, until his appointment, was the Deputy Inspector General (DIG) in charge of Force Criminal Intelligence and Investigative Department. He was the fifth in the rank of eight DIGs, who constituted the Police Management Team (PMT) under Abba. Arase, 59 and a 1980 graduate of the Ahmadu Bello University, Zaria, Kaduna State, enlisted into the force in 1981. He holds Bachelor's and Master's degrees in Law, as well as Bachelor's and Master's degrees in Political Science and Strategic Studies. He is also a Fellow of the Nigerian Defence College. The change of guard was received with mixed feelings by officers and the rank and file at the Force Headquarters yesterday.

L-R: Chairman, Monitoring Group, Mr. Festus Okoye; Senior Governance Advisor, DFID Nigeria, Ms. Catherine Weiss; Executive Director, PLAC, Mr. Clement Nwanko and Independent National Electoral Commission (INEC) Chairman, Prof. Attahiru Jega, at a meeting in Abuja...yesterday. PHOTO: TIMOTHY IKUOMENISAN.

Ondo lawmakers serve Mimiko's deputy impeachment notice Babatope Okeowo

Akure

he crisis rocking Ondo State following the defection of the state’s Deputy Governor, Alhaji Ali Olanusi, from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) worsened yesterday. The House of Assembly has directed its Clerk to serve impeachment notice on the deputy governor. The impeachment notice, signed by 20 out of 25 members of the Assembly, accused the deputy governor of gross misconduct, corruption and truancy, contrary to the law of the land. The charge read by the Majority Leader of the House, Hon. Ifedayo Akinsoyinu, who said their action was based on section 188 (2) of the 1999 Constitution of the Federal Republic of Nigeria levelled seven allegations against the Olanusi. The motion, seconded by Hon. Banso Adeyinka, stated that: "Alhaji Ali

Olanusi, being the holder of the office of the Deputy Governor, permitted and condoned the perpetration of fraudulent activities in the office of the Deputy Governor in that Alhaji Bola Idris Olanusi, the younger brother and Special Assistant in the office of Deputy Governor, procured false LPO's with the knowledge of Alhaji Ali Olanusi and obtained EHISO Resources International Limited two trucks of AGO with forged documents and for personal benefits, thereby putting the office of the Deputy Governor into disrepute." Also, the Assembly accused the deputy governor of disparaging the office of the governor by alleging that Governor Mimiko carted away ballot boxes, instigated the killing of people of the state, disrespected the judiciary, worked against the interest of the president and a person who bribed the electorate. Besides, the deputy governor was accused of engaging in absenteesim and truancy by regularly

absenting himself from office, place of work and other official engagements without lawful excuse or authorisation, but generally acting in a manner inconsistent with the dictates and expectations of the high office of the deputy governor of a state, thus, undermining the governance process, an act which amounts to gross misconduct under the constitution. The deputy governor was accused of allowing his security aides to shoot indiscriminately peaceful protesters along Fiwasaye/Oba Adesida road in Akure thus creating panic, breakdown of law and order, and general sense of insecurity within the state under the pretext that the said protesters disrupted his convoy, an act unbecoming of the holder of the office of the deputy governor. Olanusi was accused of collecting various sums of money, including N8 million, N1 million, N8.9 million, N10.8million and N11.3million for the purpose of travelling for medi-

cal purposes and refused to use the fund for the purpose meant for. It added that the deputy governor engaged in political misconduct by working at cross purposes with the governor and thereby want to destabilise the government by openly canvassing the impeachment of the governor. The impeachment notice, which was ratified by members at the sitting presided over by the Speaker, Jumoke Akindele, was to be served on the deputy governor through his official residence, office or through the media. But the embattled deputy governor said he was yet to be informed about the development, saying the Assembly was famous of making resolutions without proper documentation. Olanusi said: "The Ondo State House of Assembly is noted and familiar with making laws and passing resolutions without sitting and recording. There are many repetitive events in this regard. “A case in hand was the passage of the OSOPADEC

budget last year. You will get my full reaction and if and whenever I am officially informed." Similarly, the opposition APC accused the Assembly of serving the deputy governor in absentia. The party, in a statement issued on its behalf by Abayomi Adesanya said: "We are aware of the purported impeachment notice served on the Deputy Governor, Alhaji Ali Olanusi, by the Ondo State House of Assembly. "The Deputy Governor had written to the Governor, Dr. Olusegun Mimiko on Friday, April 17, 2015, with Ref. No. OBG/A/136/67, that he would be going on routine medical check-up outside the country. "Baba had since travelled out on Saturday, April 18. So it is laughable for the rubber-stamp House of Assembly to have claimed it has served the deputy governor an impeachment notice, knowing fully well that the law does not permit to serve impeachment notice in absentia. The notice is nullity."

News

WEDNESday, APRIL 22, 2015 NEW TELEGRAPH

Jega dismisses claims of irregularities in Rivers elections Tunde Oyesina ABUJA

he Chairman of the Independent National Electoral Commission (INEC), Professor Attahiru Jega, yesterday said there was no evidence before the commission as it relates to election irregularities in Rivers State. Jega, who spoke at the Civil Rights Situation Room held in Abuja, recalled that on getting the petition of irregularities in Rivers, the commission sent three national commissioners to investigate it. He added that the reports submitted by the team did not show any irregularities in the election. "We have no power to cancel election results once returns have been made. On the petition against election irregularities in Rivers State, the commission sent three national commissioners to the state to investigate it. Some people don't want elections to hold, they are the ones calling for cancellation. "We investigated the allegation of fake result sheets in Rivers, our re-

TODAY’S WEATHER FORECAST LAGOS

32oC

28oC

Partially Cloudy

ABUJA

39oC

24oC

Mostly Sunny

PORT HARCOURT

KANO

39oC

19oC

27 C 19 C Thunder Storms

37oC

24oC

Partially Cloudy

IBADAN

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success is sustained. "Evidently, some people did not want us to use the card reader machine. That was why we allowed manual election in some few places where the card reader did not function well during the presidential election. "Some people had already said that we deliberately deployed card reader machines that will not function in some zones

and to prove them wrong, we instructed that manual voting should take place in such places. But some people want to take the advantage of that. "But during governorship elections, we ensured that all the card reader machines worked. We have earlier sent warning to all the Resident Electoral Commissioners (RECs) that they will be held responsible for any card

reader that did not work properly," he stated. Earlier, the convener of the Situation Room and Executive Director of Policy and Legal Advocacy Centre PLAC, Clement Nwankwo, had on behalf of the Civil Societies congratulated Jega and INEC over the success of the elections. He, however, noted that Situation Room had raised concern over Riv-

ers, Abia and Akwa Ibom elections. He also noted that there were complaints about some of the RECs as it relates to their relationship with politicians in their various states. Also speaking, the Country Representative of DFID in Nigeria, Catherine Weiss commended INEC for a job well done in the just-concluded elections.

L-R: Airtel Regional Operations Director North, Mr. Wole Abu; man who walked from Lagos to Abuja, Suleiman Hashimu and Airtel Business Manager North, Ms. Lyda Umeh, during the presentation of gift to Hashimu in Abuja yesterday. PHOTO: TIMOTHY IKUOMENISAN.

PenCom opens new investment window for funds CONTINUED FROM PAGE 1

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ENUGU

ports showed that there was nothing like that," he stated. Jega stressed that he will not accept a re-appointment if the offer was made to him as he would want to do something else with his life. The INEC boss further stated that the commission is already in partnership with the Police and the Nigerian Bar Association (NBA) to prosecute electoral offenders. He noted that one offender had already been prosecuted in Adamawa State by being sentenced to six months imprisonment for being in illegal possession of Permanent Voters’ Cards (PVC). He, however, called on those who have evidence as it relates to electoral offences to bring such to the commission, with a promise that such will be investigated and consequently tried in court. On the planned supplementary elections in Abia, Jega said that the elections will hold only in the wards where election was cancelled and not in the entire three local governments. Jega further revealed that about 20,000 PVCs were not produced before the general elections were conducted because the producer was arrested by the police over the allegation that he gave the password to a political party. The INEC boss attributed the success achieved in the elections to the use of technology, adding that subsequent elections can be better if the present

vestable funds, within the same period. According to the new draft, the commission has set the minimum value of individual projects that pension fund assets could be invested in at N5 billion. It stated that as much as 15 per cent of the total value of pension fund assets under management could be invested in infrastructure through Infrastructure Bonds and another five per cent of the total value of pension fund assets could be invested in infrastructure through Infrastructure Funds, making 20 per cent of the total value of accumulated pension asset. In addition, pension fund assets can be invested in infrastructure through either Infrastructure Bonds or Infrastructure Funds just as both outlets must meet the conditions for the investment of pension fund in infrastructure before PFAs could channel

pension fund assets into such investments. PenCom cited Section 5.2.3 of the draft “Regulation on Investment of Pension Fund Assets,” which provides that pension assets could be invested in infrastructure projects through eligible bonds, sukuks subject to two major conditions. “The infrastructure project shall be not less than N5 billion in value and awarded to a concessionaire with good track record through an open and transparent bidding process in accordance with the due process requirements set out in the Infrastructure Concession and Regulatory Commission Act (ICRC Act) and any regulation made, pursuant thereto and certified by the Infrastructure Concession and Regulatory Commission (ICRC) and approved by the Federal Executive Council (FEC),” PenCom said. Other conditions for

the investment of pension assets on infrastructure include projects, whose business plans and financial projections indicate viability, as well as economically and financially rewarding for investment by pension funds. “The bonds or sukuks issued to finance the infrastructure project shall have robust credit enhancements, including guarantees by the Federal Government or eligible bank/development finance institution or MDFOs and a maturity date that precedes the expiration of the concession. “It should also have a feasible and enforceable redemption procedure in the event of project suspension, cancellation or, in the case of regulated sectors, when changes in regulatory or policy decisions make the project to differ significantly from its original financial projections. “Where infrastructure

projects are financed through Infrastructure Funds, the value of the Infrastructure Fund shall not be less than N5 billion and the Infrastructure Fund must have a welldefined and publicized investment objectives and strategy, as well as disclosures of pricing of underlying assets, including any other necessary information. “All annual financial statements of the fund shall be audited by reputable firms of chartered accountants and the Infrastructure Fund shall have satisfactory pre-defined liquidity/exit routes such as IPO, sale to other PE Funds, trade sale, sale to a strategic investor etc. The funds shall be managed by experienced fund managers, versed in infrastructure financing and registered with the SEC as fund managers. “Some other conditions for the investment of pension assets in infrastruc-

ture include that a minimum of 60 per cent of the Infrastructure Fund shall be invested in projects within Nigeria and where an Infrastructure Fund does not have development finance institutions or MDFOs as co-investors, but the fund manager has a minimum investment manager rating of BBB issued by a rating company registered or recognized by SEC, the fund manager shall retain a minimum investment of three per cent of the Infrastructure Fund. “Where the Infrastructure Fund has development finance institutions or multilateral development finance organisations as co-investors, the fund manager shall retain a minimum of one per cent of the Infrastructure Fund and the fund shall have an advisory board with independent representatives of institutional investors being in majority,” it added.

NEW TELEGRAPH WEDNESday, APRIL 22, 2015

News

wednesday, april 22, 2015 NEW TELEGRAPH

national

Don't waste time on election dispute, Oshiomole tells NLC Yekeen Nurudeen Abuja

overnor of Edo State and a former President of Nigeria Labour Congress (NLC), Comrade Adams Oshiohmole, has charged the new leadership of the labour movement and those aggrieved by the outcome of the election

of the union not to waste their time and energy on electoral dispute. Rather, he said they should focus on how to reposition the union and engage the incoming administration of President-elect, General Muhammadu Buhari to champion the interest of the common man. Oshiohmole, who said the labour movement has lost huge mileage and goodwill in the eyes of its

members, members of the public and employers, noted that it has a huge task at hand with the incoming administration, adding that the process to rebuild the nation's economy must begin with the union. The governor stated this in Abuja, yesterday, when he paid a congratulatory message to the President of NLC, Comrade Ayuba Wabba, over

his victory in the labour movement election. "I think at this point in time, Nigeria Labour Congress has a huge task of rebuilding the movement because there's no doubt that you have lost a lot of mileage and a lot of goodwill in the eyes of ordinary Nigerians. Many believe that NLC went to sleep for almost eight years, but it does not matter how long we went

to sleep. I ask you to rebuild the movement; you must continue to be the vehicle for conveying discontent not only on wage questions but on the questions of public policies choices that have to do with the management of our economy. This economy has been run down over the past eight years and this country has over borrowed that our current debt profile leaves our previous situation a joke, if you look at the numbers, visa-vis the numbers we had before debt cancellation. I

can see a lot of social tension going forward. “The least you can do at this time is to have the leaders divided on petty issues. This is the time you need a united house. This is the time to offer workers comfort. What offers workers comfort is the existence of an articulate and focused labour movement. Even if I'm the president of Nigeria, you will need a strong labour to get the attention of government to the need of the people." He said. While stressing that the result of a free and fair election must bind on all true democrats who took part in the election, he called on Wabba and those aggrieved, especially Comrade Joe Ajaero and those in his camp to embrace peace in the interest of the masses and engage the incoming administration meaningfully.

Why Nigerians should boycott MTN, DSTV, Shoprite, by Ugboma Tony Okuyeme

L-R: Senate President, David Mark; President General, Ohanaeze Ndigbo, Chief Gary Igariwey and Senator Ben Obi, during a condolence visit to the family of late Uche Chukwumerije in Abuja…yesterday

Akande’s AIC floors FAAN over $60m hotel project Wole Shadare

he Court of Appeal sitting in Lagos has ruled that Justice Ibrahim Buba of the Federal High Court lacked jurisdiction to hear the trespass suit filed by FAAN against AIC Limited, a firm owned by billionaire business mogul, Chief Harry Akande. In a judgment delivered by Justice Joseph Shagbaor Ikyegh, he stated that the appeal was from the decision of the Federal High Court,

Lagos, dismissing the appellants’ notice of preliminary objection challenging the jurisdiction of the court to entertain an action founded on damages for trespass and also a perpetual injunction against the respondent over leased property situated at the Murtala Muhammed International Airport, Lagos. The respondent had issued a writ of summons dated January 22, 2013 at the court below seeking reliefs of perpetual injunction, damages of

N150 million for trespass to the leased landed property and N50 million for costs of action against the appellants (AIC Limited and Chief Harry Akande). In a preliminary objection, the appellants argued at the lower court that the action outside the jurisdiction of the court amounted to an abuse of the process of the court below amounted to an abuse of the process of the court, in that similar action bearing number FHC/L/CS/906/2010 was

pending in the Federal High Court, Lagos. The respondent argued otherwise. Justice Ikyeghin in delivering his judgment said, “In the final analysis, the appeal succeeds in part on the issue of jurisdiction. The court below should have declined jurisdiction in the case. It is a case for the High Court of a state. I would allow the appeal on this ground. The order of the court below assuming jurisdiction in the case is hereby set aside”.

NGA volunteers solution to NCAA reinstates Discovery $55bn gas investments’ drought Airline's licence Adeola Yusuf

ighest body of gas experts in Nigeria, the Nigerian Gas Association (NGA) yesterday declared that Nigeria has to raise its gas prices to attract an estimated $55 billion of investment needed to plug persistent local shortages. President of the group, Bolaji Osunsanya, who said in an interview with Bloomberg Africa,

maintained that these investments are needed to explore for more gas, set up five processing facilities at about $2 billion each and develop domestic distribution channels. A government increase of gas prices in August for power plants to $2.50 for 1,000 cubic feet from about $0.50 isn’t enough, Osunsanya, who is also Managing Director of Oando Gas & Power Limited, said.

Wole Shadare

hree months after its operations were suspended, the Nigerian Civil Aviation Authority (NCAA) has lifted the suspension on the Discovery Air, Air Operator Certificate (AOC). The carrier's services were shut exactly on January 13, 2015 over safety related matters. The regulatory body had shut down the opera-

tions of the new entrant over what it described as the inability of the airline to carry out corrective action after it was discovered that the airline had defaulted. The regulatory agency, in a statement released yesterday, said that it had suspended the Air Operator's Certificate (AOC) of Discovery Airways Limited on the 8th of December after giving the said airline one week to comply.

ollowing the xenophobic attacks on Nigerians in South Africa, Veteran filmmaker, Chief Eddie Ugboma has called on Nigerians to as a matter of urgency boycott DSTV, MTN and Protea Hotels. He also said that government should nationalize MTN because they have recouped their investment. The former Chairman of the Nigerian Film Corporation accused MultiChoice of destroying the Nigerian movie industry Nollywood. He also condemned the xenophobic attacks on Nigerians in South Africa. Ugboma, who made this call in an interview with New Telegraph in Lagos, wondered why South Africans forget so soon the contributions

and sacrifices of Nigeria to the fight against apartheid. “Last week, Wednesday, April 15, the South African people were asking that where was Nigeria when they were fighting for freedom war? Can South Africa remember how much money Nigeria put in their freedom fight? Can they remember that Nigeria closed one the biggest oil companies, BP (British Petroleum) because of them? Can they remember that Nigeria boycotted the Commonwealth Games because of South Africa? Can they remember Sonny Okosun, all the songs he sang? Can they remember the money all of us, workers, school children, contributed, for South Africa to be opening their mouth today and talking nonsense?

Court insists on prosecuting 14-year-old bride

Kano-based court yesterday rejected a motion to have murder charges against a child bride accused of killing her husband dismissed. The court said that there was enough evidence for the case to proceed, according to the AFP. It said that the trial of Wasila Tasi'u, who was 14 when she married Umar Sani, 35, last year would go on. Tasi’u could face the death penalty if convicted of using rat poison to kill Sani. "I am of the opinion that there is a case against the accused," High Court Judge Mohammed Yahaya said. "As such, I overrule the submission of

no-case from the defence counsel." Tasi'u's lawyers had argued that the state failed to establish her intent to kill Sani and questioned the reliability of a key prosecution witness. The witness, a sevenyear-old girl, named Hamziyya, who was identified as the sister of Sani's other wife, testified that Tasi'u gave her money to buy the poison on April 5 last year, the day Sani died. The defence said that relying on testimony from a minor contravened Nigeria's Evidence Act and that the state's case should therefore be thrown out.

NEW TELEGRAPH wednesday, april 22, 2015

News

national

Xenophobia: S'A to lose more — ECOWAS Johnchuks Onuanyim ABUJA

conomic Community of West Africa States (ECOWAS) yesterday slammed the South Africans and government on their xenophobic act, stating that they stand to lose more. The President of Ghana and Chairman of ECOWAS, Mr. John Mahama stated this in Abuja when he fielded questions from journalists after his meeting with Presidentelect, Gen. Muhammadu Buhari. According to him, South Africa has more business interest all over Africa and should not be seen expressing xenophobic act. Responding to questions bothering on the South Africa xenophobic behaviour, he said, "I think it is an issue that we are all worried about because of the specific circumstances of South Africa and it is most regrettable and most unfortunate. "I think that the young people of South Africa do not know what happened before they gained their freedom, the whole of this continent stood behind South Africa, the whole of Africa stood behind South Africa to fight against apartheid.

"I remember all of us who growing up as secondary school children, went on marches and were part of the African Youth command boycotted classes and all that all in the fight against apartheid. "Indeed, for several of the countries where their citizens were brutalised in South Africa, these are countries which are called front line states and harboured the freedom fighters of South Africa and

gave them safe haven, gave them passports to be able to avoid the clutches of the apartheid regime and even Nigeria, even though not a neighbour of South Africa, was considered a frontline state because of their economic contribution that Nigeria did to be able to liberate South Africa from apartheid and so it is regrettable that the same people who fought against apartheid are being attacked. "The pictures we

have seen are horrible. As ECOWAS, we have issued a statement condemning what is happening, the unfortunate thing is that this is not the first time, it keeps flaring up and so while we are condemning this incidence, we must work with South African government to ensure that it won't happen again, we are trying to create an integrated continent where our people can move freely amongst

our countries. This has not set a very good example for integration and especially for South Africa that has investments all over countries. I think that the government of South Africa must sit up and must take strong action and those that have been involved in these atrocities must be brought to book and must be punished serving as a deterrent so it does not happen in future".

L-R: Lagos State Special Adviser on Environment, Dr. Taofeek Folami; Governor Babatunde Fashola; Commissioner for Environment, Mr. Tunji Bello and Director of Research, Department of International Politics, Aberystwyth University, Prof. Richard Beardsworth, during the opening of the seventh Lagos State Climate Change Summit entitled ‘Climate Change Governance and Opportunities in Lagos…yesterday.

APC plotting to truncate democracy — PDP Onyekachi Eze ABUJA

he National Working Committee (NWC) of the Peoples Democratic Party (PDP) yesterday met with governors and senatorselect to review the activities of the party since it lost the presidential election. The meeting, which was presided over by the National Chairman of

the party, Alhaji Adamu Mu'azu, lasted for several hours. The President of the Senate, David Mark, and his deputy, Ike Ekweremadu were, however, absent at the meeting. Senator Philip Aduda who said he was asked by Mark to represent him at the meeting, explained that the Senate Present led a delegation to commiserate with the family of late Senator Uche Chukwuemerije who

Agbakoba wants Nigeria's High Commissioner to South Africa recalled

uman Rights Lawyer, Dr Olisa Agbakoba (SAN) on Tuesday said the Nigerian High Commissioner to South Africa should be recalled over the ongoing xenophobic attacks against foreigners. This is contained in a statement by a law firm, Olisa Agbakoba Legal (OAL), in Lagos. Agbokoba, a renowned maritime lawyer, in the statement condemned the attacks which had been ongoing, saying that the

development could strain both countries' relationship. “The Nigerian High Commissioner to South Africa should be recalled; our Foreign Minister should summon the South African Commissioner in Nigeria to convey our disappointment with the behaviour of some South Africans. “The South African Government must know that xenophobic behaviour of its people is not acceptable to Nigerians."

passed on, Sunday. Senator George Thompson Sekibo, who read the communique at the end of the meeting alleged that the All Progressives Congress (APC) was planning to use the tribunal to truncate democracy. He noted that PDP expressed deep concerns at the plans by the APC to make the country a one-party state using crude underhand and undemocratic practice.

The communiqué reads in part: “That the meeting frowns at the unprecedented level of intimidation, harassment and undue persecution of the party members since the INEC declaration of the APC candidate, General Muhammadu Buhari as the winner. "The meeting vehemently frowns at the shameless undemocratic ways and means being displayed by the outgoing APC lawmakers in

US counsels Jonathan on life after office Yekeen Nurudeen and Mojeed Alabi

ice President of United States of America, Joe Biden, has urged President Goodluck Jonathan to play a leadership role in global issues after the end of his tenure on May 29. Biden spoke with President Jonathan on telephone yesterday to commend him for his leadership in ensuring that the just-concluded general elections were peaceful and orderly.

In a statement released by the US Embassy in Abuja titled, "Readout of the U.S. Vice President’s call with Nigerian President Jonathan," Biden noted that President Jonathan’s actions to accept the results and congratulate President-elect, General Muhammadu Buhari, as well as his steps to date to ensure a successful transition, have strengthened Nigeria’s democracy and set a strong example for Africa and the world. “We, therefore, encourage him to remain engaged."

Ekiti state towards effecting an unconstitutional change in government.” PDP however, warned that it will not condone agents of APC working as fifth columnists to destabilize its leadership and called on the Independent National Electoral Commission (INEC) to be forthright and impartial in the handling of the pending supplementary elections in Abia, Imo and Taraba states.

Reps urged to respect zoning Philip Nyam ABUJA

member of the House of Representatives from Kano state, Hon. Nasiru Garo has urged his colleagues to respect the Zoning formula the All Progressives Congress (APC) may bring forth in the selection of the leadership of the 8th Assembly. Garo, who gave the advice while speaking with reporters at the National Assembly yesterday, said members of the APC who are now in the majority in the House should not help the minority PDP members to embarrass the party. He said, "For me, Nigeria is not yet politically matured to jettison zoning. It is important that we carry every zone along especially in the distribution of political offices in the land. "To me the issue of zoning is very important and we should maintain it. I strongly believe and rightly so that there is no zone in the contrary that does not have individuals that have the capacity and capabilities to effectively run the readership of the National Assembly." The lawmaker reasoned that in view of this, whatever misgiving anyone can have against zoning will definitely not hold water. “We have evolved over time and even though we are still open to learning. The only problem I have is the delay in coming out with the zoning arrangement by the party, the earlier the party comes out with its decision the better for everyone."

change of name

ETTAH

I formerly known as Miss Kammonke Bassey Itam now wish to be known as Mrs Kammonke Dodeye Ettah All former documents remain valid. NYSC and general public take note.

PUBLIC NOTICE

MOTHERS HOME OF BETTER LIFE EMPOWERMENT INITIATIVE The general public is hereby notified that the above name INITIATIVE with headquarters in Benin City has applied to the Corporate Affairs Commission for registration under part ‘C’ of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Iyamu Osemwengie Williams 2. Iyamu Osahenrumwen 3. Iyamu Osarumwense AIMS AND OBJECTIVES 1. To empower the less priviledged in the society. 2. To build support for the family and community development 3. To nurture positive altitude and behavior among youths and the general public. 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: TRUSTEES

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Metro

Hacker steals N68bn from bank Juliana Francis

he Economic and Financial Crimes Commission (EFCC) has arraigned a man for allegedly hacking into a second generation bank and stealing N68,028,000,000, has been charged to court. The accused, Stephen Omaidu, was arraigned before Justice M. A. Nasir of Federal Capital Territory (FCT) High Court sitting in Jabi, Abuja on a twocount charge bordering on theft to the tune of N68,028,000,000, on Monday. The accused, however, pleaded not guilty to the charges. The Head, Media and Publicity, EFCC, Wilson Uwujaren, said Omaidu, in connivance with Alhaji K. B. Kabiru, Godswill Oyegwa, Ben and Oliver, all at large, allegedly hacked into the server of a second generation bank and transferred the money. “He transferred the money into different accounts for personal gains,” Uwujaren said. According to him, the offence is punishable under Section 287 of the Penal Code Act. Following his “not guilty” plea, counsel to EFCC, S. A. Ugwuebgulam, asked the court to fix a date for trial to commence. However, defence counsel, Gabriel O. Sanifu, urged the court to admit the accused to bail pending trial, saying the offence was bailable. Ugwuebgulam objected to the application on the grounds that the accused had failed to honour the administrative bail terms earlier granted him by the com-

mission and could do same if not remanded by the court. Nasir ordered the accused to be remanded in the EFCC custody and adjourned the case till April 28 for ruling on the bail application. In another development, an accused, Waheed Adeniyi, has confessed that he defrauded a victim over N1 million via Facebook. Adeniyi aka Ibrahim Waziri reportedly defrauded one Emmanuel Iheanyi Nwogu of N1,010,000, after he posted a fake auction advertorial on Facebook, claiming he had vehicles impounded by the Nigeria Customs Service (NCS) for sale. The accused, who was arraigned on Monday before Justice B. O. Quadri of the Federal High Court, Port Harcourt by the EFCC, pleaded guilty to the onecount charge of fraud. The charge reads, “that you Waheed Adeniji (alias Ibrahim Waziri), on or about the 3rd February 2014 at Port Harcourt within the jurisdiction of this honourable court with intent to defraud did obtain the sum of N1,010,000 only from one Emmanuel Iheanyi Nwogu for the purchase of three cars placed on auction, under the pretence that you are Ibrahim Waziri, a Customs officer and marketing manager of auction sales of the Nigeria Customs Service, a pretext you knew to be false and thereby committed an offence contrary to Section 1 (1a) and (2) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 which is punishable un-

der Section 1(3) of the same Act”. The prosecution counsel, Ramiah Ikhanade, asked for a date to review the fact of the case in view of the plea of the accused. Quadri ordered that the accused be remanded in prison custody and adjourned the matter to May 4.

Peacemaker stabbed to death Juliana Francis

peacemaker, Mr Kunle Abiola, has been stabbed to death while trying to separate two men fighting at Ajegunle area of Lagos State. The suspected killer, identified as Chinonso, was arrested by policemen from Ajegunle

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

Police Station. Chinonso told policemen that he did not kill Abiola intentionally. He attributed the Sunday incident to the handiwork of the devil. A police source said: “The two men were quarrelling over a minor issue which later degenerated into exchange of fisticuffs. “Abiola came and pleaded with Chinonso to stop fighting. The two men fighting were Abiola’s neighbours. He pleaded with both men, but they refused to listen.” A witness, Ibrahim Adeoye, said that Abiola did not know that Chinonso would come after him. For reasons yet unknown, the suspect dashed into his apartment and stormed out with a kitchen knife. Adeoye said: “He stabbed Abiola in the jaw and chest. Some people alerted the police.

Adeniyi

Omaidu

Chinonso was arrested. Abiola was rushed to the General Hospital at Awo-di-ora at Ajegunle. He, however, died on the way to the hospital. “The doctors confirmed him dead. When the police brought the corpse to the station, every one of us began to cry because the victim was a good man.” Adeoye said that Abiola was a carpenter who had his workshop very close to the Ajegunle Police Station, adding that he left a wife and a child. A police sergeant at the station said: “We knew the carpenter. He used to work for us at the station. He was very nice and friendly. We had never heard that he quarrelled with anybody before.” We pity his family. As for the suspect, he should be prepared to face the full wrath of the law. He said the devil pushed him to perpetrate the act.”

‘I seized 240kg of Indian hemp from debtor’ Dominic Adewole ASABA

suspect, identified as Francis Oji, has said that he seized the 240kg of Indian hemp, which the National Drugs Law Enforcement Agency (NDLEA) discovered in his house, from a debtor. The Cannabis sativa, weighing 240 kilogram, was discovered in a hidden warehouse belonging to Oji, a native of Ogume in Ndokwa West Local Government Area of Delta State. The 46-year-old father of four concealed the illicit drugs in his family house and was waiting for buyers before nemesis caught up with him. The state NDLEA Commander, Mr Frank Hanachor, who paraded Oji and five other suspects, including one Francisca Akpena, at the command headquarters in Ogwashi-Uku in Aniocha South Local Government Area yesterday, said they were arrested at different locations with different types of hard drugs. On interrogation, Oji said he

seized the illicit drugs from his friend who had been indebted to him for over a year. He said: “When I got to his house, he could not provide the money. I looked around for what I could seize. My mind went straight to the 30 bags of Indian hemp in his house, which he earlier told me he was waiting for his customer to come and buy. Out of annoyance I packed them to my house and locked them up in a room. “I was waiting for him to come and pay up the debt before my house was ransacked and I was arrested.” On whether he knew the kind of goods he confiscated from his friend, the suspect said “yes.”

Oji standing beside the bags of Indian hemp

Metro 11

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Abductors abandon girl at Abeokuta church Kunle Olayeni and Camillus Nnaji

olice in Ogun State yesterday said they had rescued the three-year-old girl who was kidnapped during a church service in Lagos on Sunday. The baby girl, Oluwabumi Ajelero, was abducted at the Surulere Baptist Church, located at 52/54, Ojuelegba Road, Surulere, Lagos. The abductors were said to have demanded a ransom of N300,000 from her parents. But in a statement issued in Abeokuta yesterday, the state Police Public Relations Officer (PPRO), Muyiwa Adejobi, disclosed that the three-year-old girl was found on Monday. Adejobi said the girl was seen in a church at Oke-Sokori area of Abeokuta. He said: “The girl was seen in a church at Oke Sokori, Abeokuta, Ogun State towards evening time while she was crying which attracted members of the community who later informed the police detectives attached to Adigbe Division, Abeokuta, Ogun State, before the girl was rescued and handed over to the Juve-

nile and Women Centre of the police for proper care. “Police preliminary investigation revealed that the kidnappers had demanded N300,000 ransom from her parents and promised the parents of seeing her after the ransom has been dropped at a designated place. “The girl was seen with a note on which their Lagos pastor’s telephone number was written possibly to locate her after the criminals’ transaction with her family. “The rescue of the girl terminated or truncated the operation of the criminals and no ransom was paid before the girl was rescued by the police.” Meanwhile, the girl’s parents, Mr and Mrs Dapo Ajelero, jumped for joy when they received the news of their daughter’s rescue. Oluwabunmi’s mother, Toyin, confirmed that her daughter was found in a church in Abeokuta on Monday evening. She said: “Oluwabumi was found at another church in Abeokuta yesterday (Monday) where a worshipper in the church heard a child crying and then took her to the police station at Adigbe.” Ironically, according to Toyin, the kidnapper as at yester-

Baby Ajelero

day morning was still asking of the N300,000 ransom. She said: “This morning (yesterday), the kidnapper called my husband to come and meet him at Oshodi and pay him the money. Whether he is aware my daughter has been found or not is what I cannot explain. May be he is the one who kidnaps children from Lagos for his group in Abeokuta. I suspect there is a communication gap between him and his group in Abeokuta.” Toyin said that the family was full of thanks to the Almighty God for the release of

Mojeed Alabi

The protesters

They also accused the company of issuing them “crazy bills,” saying meters were no longer read before bills were issued. Some of the victims of

her child. Also one of the relatives, Kehinde Clegg, said: “Our God is indeed awesome, Oluwabumi has been found. She was found in Abeokuta and brought back home by her daddy. Thank you everyone for your prayers at all ends, may God continually shield us s in Jesus mighty and everlasting name, amen.” But Adejobi said the Ogun State Commissioner of Police, Val Ntomchukwu, had directed the State Intelligence Bureau of the command to carry out thorough investigation into the matter.

the excessive billing including occupants of 16, Abdullahi Street, who claimed they only have four shops and two rooms, said they were billed N54,000 for the current

month. Fatuyi said: “We are being taken for granted by the power company in this area because we are peaceful and law-abiding. “But between now and Wednesday if the light is not restored, we will go violent and we are warning those in charge of disconnection to steer clear of our houses. If we see anyone, we will prove a point. There shall be no bills distribution, no disconnection and no payment until we feel the light has improved.” Responding, the team leader for the company in the office, who identified herself simply as Mrs O. A. Olaoye, said it was what was generated and supplied to the company that it distributed to the area.

Azeez Bello clocks 70 T

he Executive Chairman of Azemor Agribiz Limited, Alhaji Azeez Bello, will tomorrow clock 70. To commemorate the birthday, there will be a lecture on “SME Development – Fast Tracking Growth with ICT,” at Anchor Events Centre, Lateef Jakande Road, Agidingbi, Ikeja, Lagos. The lecture, to be delivered by the Chairman of the Nigeria Economic Summit

Lagos tackles distribution of unwholesome meat Muritala Ayinla

Youths protest power outage, issue IKDC 24-hour ultimatum undreds of youths in Oke-Ira community in Ojodu Local Council Development Area of Lagos State yesterday marched on the Ikeja Distribution Company (IKDC) undertaken office in the area over what they described as epileptic power supply and excessive billing. The youth, who staged a peaceful protest to express their displeasure, accused the power distribution company of being fraudulent in its dealings, insisting that the power meant for the area was being diverted to Ogba Industrial Estate. According to them, the small and medium scale companies are entitled to enjoy the services paid for as the big companies. The protesters, therefore, warned that if there was no improvement within the next 24 hours, the entire office would be shut down. Speaking on behalf of the group, Lanre Fatuyi said the degeneration in the power supply in the area became worrisome within the last five months when other areas within the Ogba/Aguda jurisdiction were enjoying relatively constant power supply. But, according to them, Ayo Alabi, Second Junction and the LCDA Secretariat Road are always in perpetual darkness.

City Briefs

Group and Chief Executive Officer of Philips Consulting Group, Mr Foluso Philips, will hold at noon on Thursday. The event will also mark the 43rd anniversary of Bello to Alhaja Moriam Olayinka Bello. Bello is also the chairman of Centrespread Advertising as well as a director of Vigeo Holdings among other blue chip holdings.

Bello and his wife

agos State Government yesterday stepped up the campaign against circulation of unwholesome meat and declared war against slaughtering of animals on filthy surfaces. Speaking at a10-day training on Advanced Diploma for Proficiency in meat inspection organised for veterinary doctors and officers in the Ministry of Agriculture and Cooperatives, the Commissioner for Agriculture and Cooperatives, Prince Gbolahan Lawal, said the state would deal severely with anyone caught operating illegal abattoir. He added that the government was scaling up the skills of veterinary doctors in the area of effective meat inspection at the abattoirs, adding that the training was carried out in collaboration with PWG Consultancy, United Kingdom. Lawal reiterated that the government was bent on repositioning the state abattoirs to check unwholesome meat supply. The commissioner explained that 25 veterinary officers were being trained to later retrain others on train-the-trainer basis, saying that this team should be able to impact the knowledge acquired from training on others. He said: “We resolved to improve on the training of our veterinary officers to enhance their regulatory capacity. We believe that Lagosians should have the benefits of getting wholesome meat supply, even though we have been ensuring this. We also have new mechanised abattoirs being built across the state.”

Ajimobi thanks Oke Ogun for electoral support Sola Adeyemo Ibadan

overnor Abiola Ajimobi of Oyo State on Monday embarked on the tour of Oke Ogun zone in appreciation of the support of the people to his reelection. On the visit with him were his deputy, Chief Moses Adeyemo, members of the state Executive Council and stalwarts of the All Progressives Congress (APC). The governor and his team arrived at the zone through Iseyin and were received by a large crowd of APC supporters and residents of the ancient town. The elated Ajimobi and his deputy, according to a statement issued by the governor’s Special Adviser on Media, Dr. Festus Adedayo, who mounted the open roof of their campaign bus, were doling out souvenirs to the people amidst singing and dancing before proceeding to Okeho through the newlyrehabilitated Iseyin-Okeho Road where they were received by a tumultuous crowd. The team also visited Ayetoro, Iwere Ile and Ilero, all in Kajola Local Government Area as well as Iganna in Iwajowa Local Government Area. Ajimobi assured the residents of the zone that his administration would create a huge impact on the socio-economic and physical development of the zone in the next dispensation. The governor gave the assurance while addressing community leaders in Saki on the OYSADEP premises in Saki-West Local Government area of the state.

12 News

wednesday, april 22, 2015 NEW TELEGRAPH

SOUTH-WEST

Calm returns as drivers restate support for Fayose at all cost

Drivers, Okada riders reiterate support for defence of Gov. Fayose's mandate Adesina Wahab Ado-Ekiti

elative calm has returned to Ekiti State as schools and business outfits yesterday opened for

business. A drive to towns such as Erio, Aramoko, Igede, Iyin and around AdoEkiti, the state capital, showed that people went about their duties without any hitch. Though the House of Assembly Complex, off New Iyin Road, was still under guard by armed mobile policemen, there was no breach of peace. Meanwhile, commercial drivers and Okada riders' unions in Ekiti State have described as

figment of the imagination of the All Progressives Congress (APC) in Ekiti State, claim that commercial drivers and motorcyclists in the state shunned Governor Ayo Fayose's call to invade the State House of Assembly, saying; they are solidly behind the governor. The unions made this known in a statement issued in Ado-Ekiti yesterday and signed by the Chairman, Road Transport Employers Association; Samuel Agbede,

Chairman, National Unions of Road Transport Workers; Clement Adekola and Chairman, 'Okada' Riders' Association; Comrade Niyi Dahunsi. They said Governor Fayose did not ask them to invade the House of Assembly, adding that; "What we are interested in is the protection of the mandate we gave Governor Fayose and we are not going to leave anything to chance in protecting the mandate." The commercial driv-

ers and motorcyclists' unions warned the APC to “stop using Panadol for other people's headache”. They said: "We did what must be done on Monday and we will continue to do what we must do to protect the mandate of Ekiti people from being stolen by the APC. "Our advice is that the APC lawmakers should respect the decision of Ekiti people and stop acting like a congregation of bad losers, who won't mind pulling Ekiti State

down just because their party lost power in the state. "What we told our members in the announcements we made on Sunday was that they should monitor movement of vehicles into Ekiti State so as to prevent invasion of our state by thugs, and this is still being done. "We, therefore, wish to reiterate that our members are prepared to defend the mandate freely given to Governor Fayose."

APC, Fayose trade words over violation of rights Adesina Wahab Ado-Ekiti

L-R: Executive Director, Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo; Chairman, House Committee on Industries, Hon. Mohammed Onawo; Minister of Industry, Trade and Investment, Dr. Olusegun Aganga and Director General, Standard Organisation of Nigeria (SON), Dr. Joseph Odumodu, during the inauguration of SON's Food Technology laboratory in Lekki, Lagos…yesterday. PHOTO: SULEIMAN HUSAINI

INEC, APC rigged election in Ondo redesignates schools' Lagos for Buhari, says Fasehun administrative scribes Wale Elegbede

ounder of the Oodua Peoples Congress (OPC), Dr. Frederick Fasehun, has said that the March 28, 2015 Presidential election in Lagos State was rigged by the Independent National Electoral Commission (INEC) and the All Progressives Congress (APC) for the Presidentelect, General Muhammadu Buhari. Addressing a media briefing yesterday in Lagos, Fasehun said the card-readers device used in the election malfunctioned, compromised and aided large-scale rigging

in the election. Fasehun, who is the national chairman of the Unity Party of Nigeria (UPN), said, “Lagos inexorably suffered her own share of electoral perfidy. It is no longer news that the All Progressives Congress (APC) executed a technical and scientific rigging of all the elections in Lagos. “INEC compromised with APC from the polling booths, through the collation centres at the ward, local government and state levels. In many places, INEC's representatives and materials arrived late at their duty posts."

Ogun plans referendum for new LCDAs

gun State Governor, Senator Ibikunle Amosun has said his administration would conduct a referendum before May 29 for the establishment of Local Council Development Areas (LCDAs). The governor disclosed this when he hosted members of the Egba Tradi-

tional Council, led by the Alake and Paramount ruler of Egbaland, Oba Adedotun Gbadebo, who paid him a congratulatory visit on his re-election at the Governor's Office, Oke-Mosan, Abeokuta yesterday. According to him, the LCDA would further bring the benefits of governance to the people.

Babatope Okeowo Akure

s parts of efforts to appease civil servants in the state, Governor Olusegun Mimiko of Ondo State has approved that the post of Administrative Secretary, Local Government, be changed to that of Permanent Secretary. Also, the government approved the creation of graduate teachers' cadre and elongation of their career from grade level 14 to grade level 16. In a statement issued in

Akure, the state capital, the state’s Commissioner for Information, Hon. Kayode Akinmade said government has considered and approved the, recognition of relevant University degree as a teaching qualification in its primary schools. Consequently, he said, graduate primary school teachers in the state with relevant teaching qualifications at the primary level of education can now enjoy career progression like their counterparts in other sectors of the State Public Service.

he Ekiti State chapter of the All Progressives Congress (APC) and the State Governor, Ayo Fayose, yesterday traded words over allegations of abuse of human rights and threats to peaceful co-existence. The APC, in a statement by the State Publicity Secretary, Taiwo Olatubosun, in Ado-Ekiti, said the governor should be probed by the National Human Rights Commission and the International Criminal Court in the Hague, Holland, over alleged inciting statements. Olatubosun said recent statements by the governor were threats to the lives of 19 APC members of the House of Assembly. He further alleged that the call by the governor for various groups and the people of the state to defend the mandate given him last June had led to the breakdown of law and order in the state. "Governor Fayose, few weeks ago, mobilised his supporters to confront the APC lawmakers who were coming to perform their legal duties in Ekiti State. He had earlier urged his supporters to defend his election with the last drop of their blood. "In obedience to his

order, his supporters in Efon stormed the security check-point and engaged the security agents who they perceived as paving the way for the APC lawmakers to enter the state. In the ensuing gunfire, Modupe Olaiya was shot dead," he said. In his reaction, the Chief Press Secretary to the Governor, Idowu Adelusi said the call by the All Progressives Congress (APC) is coming from a group of people lacking decorum and who are not ashamed of their evil deeds. "Is it not ridiculous and a thing of shame for Olatubosun and his APC bigots to call on rights commission and the ICC to sanction somebody exercising the mandate freely given to him by voters and the voters resolving on their own to defend the mandate? "The fact that APC leaders have sold their conscience for a pot of porridge does not mean others have done the same. They killed Modupe Olaiya, and that was the 12th person APC people would kill in Ekiti State since when Kayode Fayemi came to office. Barely 24 hours in office, Fayemi and the APC leaders killed Chief Awolumate and went on to kill nine more persons including Ayo Jeje, Rebecca Adewumi, Foluso Ogundare, Omolafe Aderiye and now Olaiya."

Lagos shops for N1.5bn to provide LPG cylinders Muritala Ayinla

he Lagos State Government yesterday said that it would need about N1.5bn to enable it distribute Liquefied Petroleum Gas (LPG) cylinders to one million homes in the state over a period of five years. The Gover nment, which also said that it would partner with the Federal Government in the generation of power

supply, disclosed that it had powered no fewer than 172 public schools and 11 Primary Health Centres across the state in its Solar Power Project. Speaking at the ongoing 2015 Ministerial Press Briefing, as part of activities marking the 8th year of Mr Babatunde Fashola's administration, the state Commissioner for Energy and Mineral Resources,

Engr. Taofik Tijani, who made the dislcosure, reiterated the state government's commitment to ensure that residents in the state embrace the safer ways of cooking through the free distribution of LPG cylinders. Explaining that paucity of fund remains the only albatross in eradicating cooking by firewood in the state, the Commissioner added that the state govern-

ment, through the Eko Gas Scheme, would continue to carry out skid plant deployment, cylinder distribution and LPG reticulation of government owned estates, if the funds are available. He said: “Lagos solar project is an energy initiative by the Lagos State focusing on implementing embedded solar power solutions for public facilities."

NEW TELEGRAPH WEDNESDAY, April 22, 2015

Parliament

Tinubu’s associates battle for Lagos speakership

Constitution

Governance

Jonathan, senators part ways

Buhari must establish Nigeria’s Thanksgiving Day – Ajibola

Benin leadership

Group urges Okunbo to rise above political differences

Politics Governor Rochas Okorocha and Deputy Speaker, House of Representatives, Emeka Ihedioha engage in a final battle for the soul of Imo State. STEVE UZOECHI reports

The unfinished battle

Steve Uzoechi Owerri

ike the 2011 governorship election in Imo State, the April 11, 2015 governorship poll in the state, has yet again boiled down into a runoff. Before the election, nothing suggested or indicated that the governorship poll would end in a run-off as almost all the front-runners in the contest were certain of a clean sweep of the poll or at least, a one-off election victory. But as the results of the election trickled in, campaign bravado took a backseat while stark political reality dawned on the contestants, their parties and their sympathizers. Governor Rochas Okorocha, the All Progressives Congress (APC) candidate in the election may have been sure of victory but not to the extent of the massive trouncing meted out on his Peoples Democratic Party (PDP) rival, Hon. Emeka Ihedioha, the Deputy Speaker of the House of Representatives who on his part, would not in his wildest dream, have expected to take such a beating from Okorocha. So it came as a surprise to many when the Returning Officer for the election, Prof. Ibidapo Obe announced that Okorocha’s APC with 385,671 votes had won 20 council areas while Ihedioha with 306, 142 votes had won only seven council areas. Okorocha led with a margin of 79,529. While defeat and humiliation

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

Okorocha

Ihedioha

stared them in the face, Ihedioha and the PDP however gained some momentary respite when the Returning Officer declared the governorship poll inconclusive, explaining that the number of cancelled votes in the various polling units across the affected 23 council areas amounted to 144,715 votes and is by far greater than the margin of victory (79,529) of the All Progressives Congress (APC). Season of accusations While momentary calm was achieved following the declaration of the election as inconclusive, not too long after, the state erupted in accusations, counter-accusations and calls for the cancellation of the election. The All Progressives Grand Alliance (APGA) and its governorship candidate, Capt. Emmanuel Ihenacho fired the first salvo, rejecting the result of the election in its entirety. He insisted that the Imo governorship election cannot be defined in any clime as an election. A statement signed by the party chairman, Peter Ezeobi, averred that the election, fell short of critical indices that make for a credible election, citing widespread violence, intimidation and brazen ballot snatching across the council areas of the state. The party lamented that their agents

Fixing a runoff election is a disservice to Imo people because the entire process... was totally flawed and fraught with fraud

were in most cases shut out of the collating centres through the instrumentality of thugs, security agents and officials of INEC in connivance with the ruling party in the state. The party called for the total cancellation of the election. Not long after, youths of the PDP took to the streets in protest of what they described as the manipulation of results by the APC saying that the real results of the elections were not announced. One of the youth, who gave his name as Jonas Asodike, said: “Most of the results announced were prepared and written ahead of the election. All we are demanding is that INEC should not succumb to any intimidation but should go ahead and release the authentic results of the election.” Addressing the angry youth same day, Prof. Viola Onwuliri, Minister of State for Education urged them to remain calm as the party has initiated a protest against the alleged manipulation of results, calling on INEC to revisit the results again particularly that from Orlu area. PDP Board of Trustees (BoT) member, Chief Emmanuel Iwuanyanwu, on his part stated that information at the party’s disposal indicate that the APC had allegedly used fake result sheets with code numbers from states in

Northern Nigeria to write results in the election and therefore urged INEC to first sort and remove the fake result sheets, put its house in order before organising the runoff election. Dr. Bathos Nwadike of the People’s Mandate Party (PMP) also called for a total cancellation of the governorship election saying;“Fixing a run-off election is a disservice to Imo people because the entire process that led up to the so-called run-off was totally flawed and fraught with fraud.” The APC was also not left out in the blame game. The party accused INEC of partisanship, saying the commission came into the election with a winner in mind. The Director General of the Rochas Okorocha Campaign Organisation, Barr. Iheukwumere Alaribe, told journalists that the supplementary election would have been unnecessary and avoidable if INEC had done the right thing. He said: “Our major opponent is not Emeka Ihedioha or the PDP but INEC which has become a major player and a partisan contender in the election.” Hope on supplementary poll Be that as it may, the suppleCONTINUED ON PAGE 42

WEDNESday, APRIL 22, 2015 NEW TELEGRAPH

2015 Biennial Convention of nigerian guild of editors

Senator patricia akwashiki Minister of Information

prince tony momoh former Minister of Information

Chairperson

Special Guest of Honour

Babatunde raji fashola (San) Governor of Lagos State

Host Minister

Host Governor

Holding from friday april 24 to Sunday 26, 2015

mrs. dupe ajayi-gbadebo

High points of the Convention:

Special presentation: Beyond Editing â&#x20AC;&#x201C; investing for a Secured future presentation of the ngE 2014 audited accounts Election of new officers of the Guild induction of new members Venue: Lagos Airport Hotel, Obafemi Awolowo Way, Ikeja, Lagos arrival of delegates: Friday April 24, 2015 opening Ceremony: Saturday April 25, 2015 @ 10am departure: Sunday April 26, 2015

Space donated by: NEW TELEGRAPH

Politics

NEW TELEGRAPH WEDNESDAY, April 22, 2015

Barely one week after their re-election, ranking members of the Lagos State House Assembly have started angling for the speakership position of the State Assembly. WALE ELEGBEDE looks at the front line candidates scheming for the job and the behind-the-scene plots for the plum seat

Tinubu’s associates battle for Lagos speakership term. However, 11 members taking a second term baptism in the Assembly are, Eshinlokun-Sanni, Yishawu, Olusegun Olulade (Epe II); Oluyinka Ogundimu (Agege constituency II); Kazeem Alimi (Eti-Osa I); Abiodun Tobun (Epe I); Raheem Kazeem (Ibeju Lekki I); Wahab Jimoh (Apapa II); Mojeed Fatai (Ibeju Lekki II); Lanre Ogunyemi (Ojo II) and Bisi Yusuf (Alimosho I).

o doubt, the Lagos State House of Assembly is one of the few states Assembly that has enjoyed stability in its leadership. In fact, the House, under the leadership of its speaker, Rt. Hon. Adeyemi Ikuforji, has not recorded any serious management crisis in the last 10 years of Ikuforiji’s headship. However, all that may change in the coming 8th Assembly as the fresh scenario are playing out; the composition of the 40-member Assembly is now different, some of the major gladiators determining the direction of who gets what, how and when are out of the equation, a new governor, Mr. Akinwunmi Ambode is taking over, and expectedly, an array of new players are yearning to take a shot at the House leadership seat. The choice of Lagos Speaker is usually influenced by a number of factors: ranking, competence, acceptance by colleagues, APC leadership and Bola Tinubu. Unlike in 2011 when the metamorphosing All Progressives Congress (APC) won all the 40 seats in the Assembly, the party during the last election lost seven seats to the opposition Peoples Democratic Party (PDP). Though the APC still maintains its majority in the Assembly with 33 lawmakers, it still has PDP candidates, Dayo Famakinwa (Ajeromi/Ifelodun I); Olatunji Fatai (Ajeromi/Ifelodun II); Dipo Olorunrinu (Amuwo Odofin constituency I); Hakeem Bello (Amuwo Odofin constituency II); Mosunmola Sangodara-Rotimi (Surulere II); Shokunle Hakeem (Oshodi/Isolo I) and Emeka Idimogu (Oshodi/Isolo II) to share the Assembly lobby with. With Ikuforiji, who is the present occupier of the speakership seat not returning to the House, the battle for contention of the seat prior to the April 11 election was centred around four lawmakers – current Deputy Speaker, Kolawole Musbau Taiwo, Ajeromi/ Ifelodun 1; Deputy Chief Whip, Rotimi Abiru, Somolu 2; the Chairman of the Assembly Committee on Budget and Economic Planning, Mudasiru Ajayi Obasa, Agege 1; and the Chairman of the Assembly Committee on Finance, Princess Adefunmilayo Tejuoso, Mushin 1. Out of the lot, Taiwo looks set to succeed his friend, Ikuforiji as the speaker of the House, but

Tejuosho

Abiru

Eshinlokun

Oshun

the unthinkable happened as he lost his bid to return to the House for a record fifth time to a PDP candidate, Dayo Famakinwa in a keenly contested election at Ajeromi-Ifelodun state constituency 1. Expectedly, Taiwo’s defeat on April 11 threw the race open to other ranking members of the House. Although some of his supporters are still fuming that the APC leadership intentionally worked against the re-election of Taiwo to stop him from becoming the speaker, but others are quick to add that the deputy speaker had lost the steam in his constituency and that he was a victim of the non-indigenes ‘gang-up’ in the Ajegunle area he represents against the APC. From the outgoing Seventh Assembly, only 20 out of the 40 lawmakers would return for the Eighth Assembly. Also, the Deputy Chief Whip, Abiru, is the only principal officer returning as the remaining five, namely the Speaker, Deputy Speaker, Majority Leader, Deputy Majority Leader and the Chief Whip are out of the Lagos legislative chamber in

the next four years. With a House rule that bars a first-term member from vying for the speakership seat, the 20 ranking members have their eyes on Ikuforiji’s seat but in practice, only seven members have shown serious intent – Obasa, Tejuosho, Abiru, Gbolahan Yisawu, Eti Osa I; Dayo Saka Fafunmi, Ifako Ijaye I; Olanrewaju Osun, Lagos Mainland I, and the erstwhile chairman of Lagos Island Local Government who once served in the Assembly between 1999 and 2003 Wasiu Eshinlokun-Sanni, Lagos Island I. A breakdown of the stint of the ranking lawmakers in the Lagos Assembly shows that, three, Tejuosho, Obasa and Adebayo Osinowo, Kosofe I, are returning to the House for a record fourth time. Tejuosho was the Deputy Speaker between June 2007 and August 2009. Also, Fafunmi, Osun, Omotayo Oduntan (Alimosho II); Oluyinka Ogundimu (Agege II); Sanai Agunbiade (Ikorodu I); and Rotimi Olowo (Somolu I) are coming back to the House for a third

The zoning conundrum With the governor-elect coming from Lagos East and his deputy, Dr. Oluranti Adebule from Lagos West, it could be easily inferred that the speakership would be zoned to the Lagos Central. But in Lagos politics, several factors come into place and the least of all possible criteria is zoning. For example, Governor Babatunde Fashola is from Lagos Central and his deputy, Princess Adejoke Orelope-Adefulure is from Lagos West, while the current Speaker, Ikuforiji and his deputy, Taiwo are also from Lagos West. Prior to the alteration of the zoning arrangement in 2011, the zoning order had subsists since Senator Bola Tinubu’s administration with the top three offices spread across the three senatorial districts. In 1999, Tinubu came out from the West while his deputy, Senator Kofoworola BucknorAkerele from Central while the Speaker of the House of Assembly then, Rt. Hon. Olorunnımbe Mamora represented the Lagos East senatorial district. Similar trend followed during Tınubu’s second term when his deputy, Otunba Femı Pedro was from the Lagos Central and Rt. Hon. Jokotola Pelumı came from the Lagos East. The first term of Fashola in 2007 maintained the same arrangement but his second term in 2011 after Ikuforiji was moved from Epe to Ikeja sidelined the zoning arrangement in the APC. Already, it is being anticipated that the new sense of politics in the air could force the APC leadership to follow the zoning trend it dumped in 2011, if that be the case, then the chances of Abiru, Yishawu, Eshinlokun-Sanni, Osun and Olowu seem bright for the seat. The personality test According to a member of the House who chose to speak under the condition of anonymity, the remarkable standard of the Lagos Assembly must be maintained, hence, those vying for the speakership would be made to undergo major assessments in competence, legislative experience, maturity, charisma, ability to control the House, educational background, calmness, previous contributions in the House, relationship with party leadership CONTINUED ON PAGE 43

16 Politics

WEDNESDAY, April 22, 2015 NEW TELEGRAPH

Jonathan, senators part ways The National Assembly has suddenly found itself in a dilemma on the recent decision of President Goodluck Jonathan to veto the 1999 Constitution of the Federal Republic of Nigeria (as amended), Fourth Alteration Bill, 2015. CHUKWU DAVID examines the efforts made by the legislative houses to pass the bill, objections raised by the President and next line of action

How it started There is no doubt that the process of amending a written constitution of any country is a very tedious exercise. It takes a lot of energy and resources to accomplish. The situation tends to be worse in the third world nations, where parochial interests in most cases override national interests in decision-making processes. To amend the 1999 Constitution was a very herculean task, which the National Assembly and state assemblies spent a lot of time and energy to achieve. A lot of the nation’s resources also went into the exercise. In fact, the parliament adopted a ‘piece meal approach’ to amend the Constitution. The sixth Assembly carried out some amendment. Then this Seventh Assembly undertook a larger chunk of the alteration. The House of Representatives, for instance, conducted nationwide public sessions in the 360 federal constituencies. The objective of such elaborate public hearing was to get a representative input of the citizens into the amendment process, so that the product of the exercise would be accepted as a true reflection of the people’s views, needs and aspirations. Precisely, the House of Representatives Ad Hoc Committee on the Review of the 1999 Constitution on Thursday, April 18, 2013, presented the collated results of the People’s Public Sessions on Constitution Review to the public. The event, which was earlier scheduled to hold on Thursday, January 31, 2013 but postponed to give the lawmakers more time to verify that the results reflected the voting in their respective constituencies, recorded a large turnout of people. Determined to do a thorough work in the alteration process, in order to produce an amended constitution that would stand a test of time, the House flagged off the People’s Public Session on Thursday, November 8, 2012.

Ekweremadu laying report of the Constitution Amendment Committee before the Senate. THE OBJECTIONS OF MR. PRESIDENT TO THE BILL INCLUDE THE FOLLOWING: •

Non-compliance with the strict requirements specified in Section 9(3) of the 1999 Constitution on amendments;

•

Alteration to constitution cannot be valid with mere voice votes unless supported by the votes of not less than four-fifths majority all members of National Assembly and two-thirds of all the 36 State Houses of Assembly;

•

Right to free basic education and primary and maternal care services imposed on private institutions

•

Flagrant violation of the doctrine of separation of powers,

•

Unjustified whittling down of the Executive powers of the Federation vested in the President by virtue of Section 5(1) of the 1999 Constitution;

•

30 days allowed for assent of the President;

•

Limiting expenditure in default of appropriation from six months to three months, which he noted might put the nation in financial crisis.

•

Creation of the Office of Accountant-General of the Federation distinct from the Accountant General of the Federal Government

•

Empowering National Economic Council to appoint the Accountant-General of the Federation instead of the President himself as is the case in the instant law;

•

Allowing National Judicial Council to now appoint the Attorney-General of the Federation and not the President;

•

Unwittingly whittling down the discretionary powers of the Attorney-General of the Federation.

The exercise then took place in the 360 federal constituencies across the country on Saturday, November 10, 2012. Reports from the sessions across the constituencies indicated that the exercise was well-attended by Nigerians who deliberated on a 43-item template that articulated all of the issues, views and the memoranda submitted by the people on issues they wanted to be amended in the Constitution. The Senate also held public hearings at the zonal levels throughout the six geo-political zones of the country between Thursday, November 15 and Friday November 16, 2012. The Senate passed the Constitution (Fourth Alteration) Bill, on Tuesday October 21, 2014 while the House earlier passed its own version on Wednesday October 15, 2014. After harmonising the independent alterations made by the Senate and the House of Representatives, the two chambers, on October 28, 2014, transmitted the amendments to the 36 state Houses of Assembly to also work

and vote on it as required by the constitution. Section 9(2) of the 1999 (as amended) provides that an Act to alter the provisions of the Constitution can be passed only when it is supported by twothirds majority of members of the Senate and House of Representatives, as well as supported by two-thirds majority of state Houses of Assembly. The states Assemblies worked on the document and returned same to the National Assembly for final approval and transmission to the President for signing it into law. The Senate and the House therefore, made their final input on the document. President’s shocker Having fulfilled what it considered the fundamental constitutional requirements in the process of constitution amendment, the Senate on February 19, 2015, ratified the Fourth Alteration Bill for onward transmission to President Goodluck Jonathan for his assent. The lawmakers, considered all the alterations made on the constitution, and

resolved that the provisions of the bill which have satisfied the requirements of Section 9(2) of the Constitution be processed in line with the Authentication Act. At this stage, in which the relevant parliamentary houses had played their parts by fulfilling their own constitutional obligation on the bill, the ball was then left in the court of Mr. President to assent to it, in order to make it become law, to enable institutions of government prepare for immediate implementation of policies and programmes. Instead, the National Assembly members were shocked last week Wednesday, April 15, when the President of the Senate, Senator David Mark, read the letter from President Jonathan, notifying the Upper Chamber that he had withheld his assent to the Fourth Alteration Bill. The President, in a six-page letter addressed to the President of the Senate and the Speaker of the House of Representatives, informed the chambers of his decision to withhold his assent to the bill and to remit same back to the National Assembly for necessary action, pointing out about 12 errors in the bill, which he felt should not be allowed to pass into the amendment to the nation’s grand norm. In his explanation on why he vetoed the bill, Jonathan said that he would not assent to the amendments because he observed that such alterations failed to satisfy the strict requirements of Section 9(3) of the 1999 Constitution (as amended). He also queried the amendment in the bill, in which the National Assembly decided to whittle down some executive powers of the President of the Federal Republic of Nigeria and that of the Attorney-General of the Fed-

Politics 17

NEW TELEGRAPH WEDNESDAY, April 22, 2015

Jonathan

eration. He vehemently kicked against some amendments in the bill which gave executive powers and duties to the Legislature and the Judiciary. The objections of Mr. President to the bill include the following: •Non-compliance with the strict requirements specified in Section 9(3) of the 1999 Constitution on amendments; •Alteration to constitution cannot be valid with mere voice votes unless supported by the votes of not less than four-fifths majority of all members of the National Assembly and two-thirds of all the 36 State Houses of Assembly; •Right to free basic education and primary and maternal care services imposed on private institutions •Flagrant violation of the doctrine of separation of powers, •Unjustified whittling down of the Executive powers of the Federation vested in the President by virtue of Section 5(1) of the 1999 Constitution; •Thirty days allowed for assent of the President; and •Limiting expenditure in default of appropriation from six months to three months, which he noted might put the nation in financial crisis. Other issues raised by President Jonathan in the letter include: •Creation of the Office of Accountant-General of the Federation distinct from the Accountant General of the Federal Government •Empowering National Economic Council to appoint the Accountant-General of the Federation instead of the President himself as is the case in the instant law; •Allowing National Judicial Council to now appoint the Attorney-General of the Federation and not the President; •Unwittingly whittling down the discretionary powers of the Attorney-General of the Federation. Ekweremadu’s explanation However, the Chairman, Senate Committee on the Review of the 1999 Constitution and Deputy President of the Senate, Senator

Mark

Ike Ekweremadu, during plenary session on Wednesday, last week, raised a point of order to make personal explanation on the President’s letter, conveying his rejection of the Alteration Bill. Ekweremadu told the Senate that his committee had embarked on a two-day retreat to enable the members thoroughly study the issues raised in the letter by Mr. President, with a view to advising the apex chamber appropriately on the matter. He said that the committee discovered that the President, in the second to the last paragraph of his letter, stated that he would return the bill with the letter but noted that the bill was not attached to the letter as promised by the President. Ekweremadu, therefore, moved a motion, calling on the President of the Senate, Senator David Mark, to write to President Jonathan, asking him to return to the Senate, the draft copy of the bill submitted to him for his assent. His words: “The President and Commander-in-Chief of the Federal Republic of Nigeria has raised a number of objections with respect to the Fourth Alteration of our Constitution. That letter was appropriately referred to the Senate Committee on Constitutional Review. We slated to have two-day retreat to consider the letter and advise the Senate appropriately. “In the course of our sitting yesterday (last week Wednesday), we noticed that in the second to the last paragraph of that letter, the President said he was returning the bill with the letter. Unfortunately, the bill was not returned with the letter and we could not proceed because we would like to see the returned bill. “The committee has asked me to raise this point, to request the President of the Senate, to ask the President of the Federal Republic of Nigeria to send back the original copy of the bill as sent to him especially the signature page to enable us to proceed with our work; especially since he had indicated in his own letter that the letter was accompanied by the Bill. So, we would like to have the bill in its original form,

especially the signature page.” In his reaction, Mark, who noted that the motion did not require any debate since it was a matter of personal explanation, automatically received the support of his colleagues, thereby promising to write the President as quickly as possible due to the seeming urgency of the matter.

It is indolence on the part of the AttorneyGeneral and the SGF, who ought to have called the President’s attention to these matters when the hearing was going on

Mixed feelings Meanwhile, senators are expressing mixed feelings on the action of President Jonathan. While some commend the action as a patriotic act on the part of the President, others are more concerned that, though some of the issues he raised are critical and could not be overlooked, the action was belated, in view of the short period left for the present administration to wind up. For instance, the Chairman, Senate Committee on Rules and Business, Senator Ita Enang, who spoke to New Telegraph extolled President Jonathan for his patriotism and nationalistic position in rejecting the Constitution Alteration Bill. Describing President Jonathan’s refusal to assent to the Amendment Bill as another act of statesmanship, Enang argued that, in spite of the fact that his tenure would end soon, he was magnanimous to point out some errors in the Act, which would hurt Nigeria and her future leaders, and thereby withheld his assent. The lawmaker said: “He believed that he should be as a soldier; standing at his post to the end and I commend him because he would ordinarily have signed it and said `I wash my hands off ’ like Pilate. He still put his thoughts together and said; this I refuse to do on these accounts. To that extent, I commend his honesty, I commend his statesmanship.” Enang, however, pointed out that the observations made by the President came too late, wondering why the relevant officers in the Presidency did not raise the issues with the President till the National Assembly passed the bill. He blamed officers of the President, who should have pointed out these issues at

the point of the public hearings because opportunities were provided for the public to make their input at the processing stage. “At this stage, we have gone through public hearing at different stages and this is a bill that passed through the National Assembly for three years. When we had the public hearings, those making these observations did not appear. The president didn’t need to appear but the AttorneyGeneral, Secretary to the Government of the Federation (SGF), Accountant-General and all the other institutions ought to have appeared. It is indolence on the part of the Attorney-General and the SGF, who ought to have called the President’s attention to these matters when the hearing was going on,” Enang said. Also, the Senate Leader, Senator Victor Ndoma-Egba, noted that the process of passing the bill by the National Assembly and the states Assembly was tedious, and expressed surprise that it was at this stage that such objections were coming up from President Jonathan. He, however, said that what the Senate would do on the action of Mr. President would depend on the findings of the Constitution Review Committee after going through the document. On whether or not the Senate complied with the constitutional requirements for passing a constitution alteration bill into law, the Senate Leader stated that the voting of the Red Chamber while passing the bill was a public record which could be verified. “The vote is a public record and anybody who wants to check can check because they are in the public domain. And if you witness the procedure you will recall that voting was electronically done and when you vote electronically, it registers not just your name but how you voted. So that can be checked. “But we have passed that. This has been a very tedious exercise that has passed several months if not years. If you recall, we had retreats in Uyo, Abuja, Lagos and we had several public hearings in Abuja, in the various zones in the various states. So, people had every opportunity to make their inputs. We are a bit surprised that these issues are coming up at this point in time. But the bill hasn’t reached us, so when we see it and determine the status, then we know what appropriate action to take,” he noted. Way forward It is obvious that the Senate is not pleased with the vetoing of the bill by the president. However, they are not ignorant of the fact that most of the objections raised on the document are valid points and cannot be swept under the carpet, if the proposed amendment must stand the test of time, and not be counter-productive to the fundamental reasons that necessitated the clamour for the amendment in the first place. Naturally, if the parliamentarians don’t broaden their scope of thinking, they might feel slighted by the president and would CONTINUED ON PAGE 40

MORE STORIES ON pageS 40-43

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Opinion Keeping faith with Buhari Okechukwu Emeh, Jr

ontrary to all expectations in many quarters that our just concluded presidential election would plunge Nigeria into a paroxysm of political and communal upheavals – no thanks to the so-called Western analysts who had earlier predicted that the country would break up in 2015 – its outcome was surprisingly peaceful, transparent, free and fair. Indeed, there is God’s hand in the affairs of our national society! In conformity with democratic spirit and his words that “Nobody’s ambition is worth the blood of any Nigerian”, President Goodluck Jonathan, who vied for re-election under the banner of the Peoples Democratic Party (PDP), conceded defeat with selflessness and dignity before the final results of the March 28 presidential poll were announced by the Independent National Electoral Commission (INEC). To this end, he made a phone call to General Muhammadu Buhari (rtd), the All Progressives Congress (APC) candidate, congratulating him on his victory, which is generally seen as divine will. And in a reciprocal gesture laced with magnanimity and humility, Buhari, who has recorded a feat of mythic proportions by being the first presidential candidate to unseat an incumbent in elections in Nigeria, lauded Dr. Jonathan for his rare display of sportsmanship. He also extended a hand of friendship and conciliation to his political opponents, while pledging to be fair to all in the country in his presidency. However, as we savour the credible outcome of the March 28 presidential election, one thing is clear: it is the Nigerian people that won the election, not only Buhari whose focus, dogged determination and sense of resilience have seen him through his presidential bid after three unsuccessful attempts. Reflecting this truism in his acceptance speech on April 1, the people’s general described the outcome of the presidential poll as a sign of Nigeria’s political

maturity, adding that “You, Nigerians, have won. The people have shown their love for this nation and their belief in democracy”. Suffice it to say that until all Nigerians close ranks and jettison ethnic, regional and religious sentiments in charting our national future, any effort to build a Nigeria that will work for her struggling people will be like a useless, endless work of Sisyphus. Reassuringly enough, with the electoral victory of Buhari, the confidence of the international community in the new political change that has come to Nigeria could be glimpsed from the gradual recovery of our currency (the Naira) and stock market, which had taken a worrisome plunge before the election following international crude oil prices that slumped to record lows and withdrawal of capital by some investors based on the fears that the election might be riven by violence. Hopes are also mounting that international support would be galvanised in the intensifying military campaign by the Multi-National Task Force (MNTF) to crush the gruesome Boko Haram terror insurgency that has claimed about 15,000 lives and displaced more than 1.5 million people in the country since 2009. Of course, there are high expectations from the incoming Buhari administration, which the citizenry would need to keep faith with, regardless of the longstanding difficult political, economic, social and development challenges in Nigeria. It is noteworthy that some of the expectations are what the administration has envisaged and also promised to address. In this connection, there are expectations about transparent, honest, accountable and inclusive government as a buffer against official corruption, mismanagement, favouritism, exclusion, injustice and other acts of impunity. There are expectations about popular participation in governance through respect of public opinion and national will, which is not beyond the bounds of possibility in our time. There are expectations about democratic consolida-

tion and its dividends of pluralism, tolerance, political stability, the rule of law, due process, constitutionalism and respect of fundamental human rights. There are expectations about emergence of an upright society through re-awakening of spirituality, morality, virtues and values. There are expectations about vibrant federation through justice, fairness, equity, peaceful co-existence, national unity, forbearance and national reconciliation that would stem the tide of ethnic separatism and religious extremism. There are expectations about human welfare by way of provision of functional infrastructure and social services, poverty alleviation and job creation. There are expectations about reinforcement of law and order and the implicit national security through unrelent assault on crime and violence and their underlying factors like bad governance, privation, deprivation, lack of social opportunities, despair and sense of social alienation. There are expectations about a tiger economy marked by macro economic stability, fast and inclusive growth, diversification, industrialisation, human capacity building, foreign direct investments, environmental conservation, sustainable development and inclination towards globalised economy. There are expectations about Nigeria’s international respectability through impressive political, economic, social and development accomplishments, as well as a major role by the country in world politics in the unfolding new order of globalisation and globalised economy. No doubt, such great expectations call for exercising of leadership by the incoming Buhari government through vision, mission and pragmatism, as well as personal sacrifices from the governed who need to embody the change they desire in the society through unfettered discharge of their civic duties and obligations. With this, Nigeria can realise her manifest destiny as the hope and pride of members of the African race anywhere in the world. • Emeh, (okemehjr@yahoo.com) a social researcher, wrote from Wuse 2, Abuja (08036895746)

2015 elections and Jega’s will Kingsley Ogbeide-ihama

espite what the outcome of the 2015 Presidential Election means to any person, it was also an opportunity for the different State governors who were canvassing votes for their party’s candidates to experience the current level of their own acceptance or how they were faring with the citizens of their States. And for the State governors who expected that no matter their performance’s rating by the citizens, the politicians, as the constant middlemen or the men-Friday would always rise to the occasion and do the needful; were surprised by the conduct of the new Nigerians who though hankered after the bait of these politicians because of their extreme poverty and needs, but nevertheless acted or voted based on personal convictions, wherever possible. Though, it can be said that some persons were well monitored to vote strictly in line with the financial inducement they received. And as such the outcome of some results may not have reflected the true wishes of all. However, this is simply not enough for those on the high horse or the moralists to overwhelmingly condemn the role of immediate financial gratifications in swaying electorates to vote otherwise. For instance, while the moralists or the elites understand that the society has not made adequate provisions to rescue the poor in serious health challenges, they still hope that such high percentage of poor people would in one way or another

find means of helping themselves, or at best simply adopt a more virtuous stance of damning such defiling inducements as money offered for votes, and resign to man’s inability to alter his decreed fate – even while an impending death endangers him. If we really wanted to be Fair’s fair; then we should ponder on the ‘dangerous hunger’ that prevented the hawk from harkening to the plea of the mother-hen. This manner of reflection could make us apportion little or no blame to the hungerstrangulated-hawk which must devour the hen’s child in order for the hawk to stay alive. Lo! Even in this era, I witnessed in Benin City, a lady (widow) with her baby strapped to the back, crying in front of a government-owned hospital’s dispensary because of her inability to afford a three hundred and fifty naira drug prescribed for her sick child. While I am not supporting the ignoble role that financial inducement plays in our electioneering, but I think it should be critically weighed against the government; State or Federal which has failed to lift it citizens above the pejorative influence of people with very established anti-people tendencies, offering money for their votes, and the reasonability of the poor not daring to decline such offers. The question that may follow is, ‘Does this money solve a fraction of their immediate personal problem?’ The answer is soundly, ‘Yes’. We may then proceed to another question of ‘Whether such inducements have the capacity of ultimately

solving future financial problems for the growing number of the poor? Of course, when the people constantly find themselves in the situation of the proverbial ‘deep blue-sea and the devil’ which could also mean living between an uncaring government and those subverting or influencing their will through ‘Greek gifts’ in a willy-nilly manner; then we should not be in a hurry to state where serves the people’s interest better, or to overtly condemn the act of accepting money for votes. As the society grapples with piecing together all of these compromising situations, the expectations of an ethically rooted social order, a leap over abject poverty, and the eradication of a systemic boxing of the people’s will through oppressive ordinances of wrong economic policies and compensatory appointments of persons with inadequate capacities to think outside the box, become critical. As it stands today, not only have the people come to detest a non-performing government and the blindfolding role of the middlemen-politicians. In addition Prof. Attahiru Jega has through his conduct of the 2015 Elections, established that it is possible for every Nigerian to rise above the inducement of money or any of such baits to do what is right for the common good. Yes, there may have been instances of poor execution of Jega’s ‘Will’ by some entrenched interests even within INEC, but Jega’s ‘Will’ or ‘Intention’ would penetratingly remain as a beacon of hope for all those aiming to invest their goodwill on Nigeria. And when a greater number

subscribe to this, sooner or later, there would be no hiding place for people to do the untoward which keeps harming our country. As the 2015 Elections would reveal, the dealings of the middlemen-politicians who profit through commission and omission while perpetually encouraging those in power to believe in the falsehood that they ‘can do no wrong’ or willfully abuse public trust and remain untouchable, is being rubbished. The elimination of the middlemen-politicians and a direct connection with the people or electorates is proving to be the best way to go. Prof. Attahiru Jega has against common expectation put a bold certification of credibility on something made in Nigeria and rendered it perfect for global consumption. Wittingly, he has exhibited that even when somebody is paying you to play a tune, it is more honourable to decline playing an abusive or one tantamount to self-annihilation. Gen. Muhammadu Buhari (rtd) has a particularly reassuring credential, hopefully it would be used to comb all hideouts in search of corruptly acquired proceeds and the guilty will be used to show the public how not to mishandle public-trust. But in crowning it all, our individual contributions should post such achievements that can surpass that initiated by the first prime minister of Singapore, Lee Kuan Yew (1923-2015) who rose to the occasion at a time his country beckoned on statesmen to prove their stuff. • Ogbeide-ihama (mustardaffairs@yahoo.com) wrote in from Benin City

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

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Time to reform the Armed Forces

he history of the Nigerian Armed Forces can be traced to the formation of the Royal West African Frontier Force (RWAFF) that later became Nigeria Army when the country attained independence in 1960. In 1956, the Nigeria Regiment of the RWAFF was renamed the Nigerian Military Forces and in April 1958 the colonial government of Nigeria took over from the British War Office, control of the Nigerian Military Forces. Since its creation, the Nigerian military has fought in a civil war- the conflict with Biafra from 1967 to 1970. It has also participated in peacekeeping mission abroad under the United Nations, served as ceasefire monitoring group (ECOMOG) in Liberia and Sierra Leone. The Nigerian Armed Forces had received accolade abroad for stellar performances in peacekeeping. It seized power four times -1966, 83, 85 and 93. When Gen Sani Abacha died in 1993, the vacuum created by his death in 1998 was filled by another military man, Gen. Abdulsalami Abubakar, who later handed over power to a democratically elected government led by Chief Olusegun Obasanjo on May 29, 1999. The long stay of the mili-

tary in politics, many believes affected professionalism and discipline. The Armed Forces became intoxicated with power and could not distinguish between professionalism and partisan politics and the foibles rubbed-of the Nigerian Armed Forces, turning fearsome and well-respected warriors into weaklings not respected at home and abroad. We recall that in the 1980s, the Police Public Relations Officer in Lagos State, Alozie Ogugbuaja, displayed uncommon courage when he publicly accused top Army officers of being “a lazy, pepper-soup licking, beer-guzzling and coup plotting lot.” Despite the long intervention of military rule, the heads of the junta at different times showed little or no effort in professionalism, discipline and providing the forces with modern equipment. The Armed Forces also lacked institutional structures, highly corrupt, everything revolved around the generals who ruled with arbitrariness. The dependency on the heads of the military junta at different times crippled the Armed Forces. And the decline became obvious. During his inaugural speech on May 29, 1999, as the President, Obasanjo, who was also a military ruler from 1976 to 79, gave credence to the pervasive rot in the Armed Forces saying,

“... Professionalism has been lost... my heart bleeds to see the degradation in the proficiency of the military.” The degradation in the proficiency of the Armed Forces became more manifest as an unprepared military faced the stark reality of terrorism. The war, which started over six years ago in Nigeria, exposed the once fearsome and revered military as vulnerable. The men and officers became easy prey for the Boko Haram insurgents. Testifying before the Senate Foreign Relations Committee, the United States Air Force Chief of Staff, Gen. Mark Welsh III, said, “We’re now looking at a military force that is, quite frankly, becoming afraid to even engage. The United States doesn’t have the capacity, the capability to go rescue every kidnapped person around the world.” The ranking of Globalfirepower.com, a site, which provides a unique analytical display of data concerning today’s military power in its 2015 global ranking placed Nigeria 41st among 126 countries surveyed. On the continent, Nigeria is 5th in terms of military strength and fire power. On Nigeria, it says, “With the available manpower of over 72 million people, there are more than 40 million people who are fit for service with 3.5 million people reaching the military ser-

vice year every year. “Nigeria has 363 tanks, 680 towed-artillery and more than 1, 400 armoured fighting vehicles. It has 96 total aircraft, 36 helicopters, 51 coastal defence crafts and two-mine warfare. The large population is kept safe with a yearly budget of $2.3 billion.” Although there is no available statistics to show the numerical strength of the Nigerian Armed Forces, it is doubtful if government employs half of the available 3.5 million people capable of joining the service every year. If this analysis is right, why are the youth wary of joining the military? To be out of this quagmire, there should be efforts to make the Armed Forces more attractive so that the youth will be willing to serve. The numerical strength of the military will go a long way in winning the war against terrorists. Of course, such numerical strength should be backed up with modern equipment. Besides, professionalism should also be given priority, a development that will take us back to the era where the practice was sacrosanct. Again, since it is incontrovertible that maintaining a standing military is not cheap, the general rule that military strength goes along with economic power is fundamental and the government should not ignore this fact.

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WEDNESDAY, APRIL 15, 2015 NEW TELEGRAPH

Arts

Book Review

House that Hunger Built, Great Discovery in Ibadan, Lagos, Onitsha Title: Publisher: Year of publication:

Dream Chasers (New Nigerian Stories) Nelson Publishers 2013

Reviewer: Olutayo Irantiola

ream Chasers is an anthology of short stories by different writers. However, in its diversity; the stories are relatively close to the Nigerian experience through the names, locale and themes. The seasoned writers wrote wonderful pieces in few words and each storyline cannot be easily determined by the reader because of the heavy use of suspense. Major Nigerian cities mentioned in the anthology include Ibadan and Port-Harcourt in “Camouflage”; Nsukka, Orba, Onitsha in the “Magic Ring”; Iseyin, Okeho and Oyo in the “Great Discovery”; Marina, Lagos in “Love on the Marina”; Ile-Ife, Onitsha, Surulere, Lagos in “Tough Guys write poetry”; Bere, Ibadan in the “House that Hunger Built”. Other locations mentioned in the book include USA, South Africa, Paris and Zimbabwe. The Nigerian content of the book is found in the themes of each story except in “How I met Steve Biko” and “What Would Saffron Do?” The themes include: deception, intricacies of intercultural marriage, armed robbery, single parenthood and depression in “Camouflage”; Incest, Western influences are evident

in “The Little Girl with Bussing Breasts” and a “Bubble Gum Laugh”; Insecurity, Insurgence, HIV/AIDS, “Death of Neighbour”, Information shared via Social Media were mentioned in “The Curtain”. Others are Voodooism, Gambling, Apprenticeship, Western education, Assumption, Religiosity explored in “The Magic Ring”; Traditions in “The Great Discovery”, Depression, Loss of a grownchild, Foreign education, dashed hope in “Love on The Marina”, Intertribal marriage, Affection in “Too Much Pepper”; Extra-marital affairs, Reminiscence in “Fur Elsie”. Additional themes in the book include Fraud, Impersonation, Disgrace, Financial challenge as reflected in “Double Wahala”; Joy of reunion, joblessnesness, desire to travel abroad, daring nature, love, in “Tough Guys Write Poetry”. The “House that Hunger Built” is related to the tall Yoruba narrative similar to the Amos Tutuola’s style of Africanism. The other two stories have African themes such as Xenophobia, Supporting acquaintance, bribery, doggedness, professional knowledge and assault in “How I met Steve Biko”, while suspi-

109 authors for 2015 NLNG Literature Prize

total of 109 entries have been submitted by Nigerian writers from across the country and beyond for the 2015 Nigeria Prize for Literature, sponsored by Nigeria LNG Limited. Focus this year is on Children’s Literature. Considered Africa’s most prestigious literary award because of its uncompromising insistence on excellence and the US$100,000 cash prize, the

TONY OKUYEME tony.okuyeme@newtelegraphonline.com

NLNG sponsored initiative rotates yearly among four literary categories of prose fiction, poetry, drama and children’s literature. Authors competing for the award typically send in their works which are assessed by a panel of judges, comprising eminent literary scholars, with their decisions and reviews overseen by an advisory committee of equally distinguished academics and literalists. On the panel of judges for this year’s edition are Professor Uwemedimo Enobong Iwoketok of the University of Jos, who will be chairperson, Professor Charles Bodunde of the University of Ilorin, and the University of Maiduguri’s Dr. Razinat Mohammed. Members of the Advisory Board for the Prize are Professor Emeritus Ayo Banjo, Professor Ben Elugbe and Professor Jerry Agada Kimberly Reynolds, a Professor of Children’s Litera-

ture at Newcastle University in the United Kingdom, and past President of the International Research Society for Children’s Literature, is this year’s International Consultant to the Advisory Board. Submissions are examined and shortlisted based on a number of considerations including editorial excellence, creativity and story plot, with the aim of selecting a final winner who will then be publicly announced in October each year, to coincide with the date NLNG shipped its first liquefied natural gas cargo. “We have received a hundred and nine books as submissions by Nigerian authors to compete for this year’s prize in children’s literature. I can only wish all the authors vying for the honour, every success and the best outcome possible in the exercise,” NLNG’s General Manager, External Relations, Kudo Eresia-Eke said. The last winner of the literature prize in the children’s lit-

erature category was Adeleke Adeyemi in 2011, for The Missing Clock, while Mabel Segun and Professor Akachi Adimora-Ezeigbo were joint winners for the Reader’s Theatre and My Cousin Sammy in 2007. This year’s award for children’s literature will run concurrently with the prize for literary criticism, also sponsored by NLNG, and for which only one entry was received. Introduced in 2012, the literary criticism category is a yearly award and carries a monetary value of N1 million. Elsewhere in education, Nigeria LNG in March 2014 publicly announced a N2 billion University Support Programme (USP). Under the corporate social responsibility initiative, Nigeria LNG is currently sponsoring the building and equipment of engineering laboratories in six universities across Nigeria’s geo political zones as part of its support to teaching, research and capacity building.

cion, unaccomplished mission, despotic leadership in “What Would Saffron Do?” The language of the text is lucid and concise. Interestingly, the text is domesticated because pidgin is infused into the book and this makes it relate closely with Nigerian readers. There are few errors in the book; however, it might be limited to the particular copy, which is negligible. The book is largely and proudly Nigerian. It is a way of exporting our literary culture and nuances to other cultures and countries. The book is another distinct piece from Nigerian writers.

POETRIP SOUTH AFRICA By Odimegwu Onwumere These killings, bestialities, animosities You show to your visitors Are for ignorance. Oh! South Africa, A land stained with innocent bloods Generations with all the soaps can’t clean. You have created ills With these odious killing competition. You neglected to learn, Failed to compete with your visitors, Failed to acquire knowledge, Failed to be hospitable. Why? Killing your visitors Can never be a sacrifice To redeem your ignorance. Killing your visitors Can never open paths Of prosperity for you. Killing your visitors Can never generate ideas For you. You have caused your bad luck With these innocent bloods That would continue To cry from your soil Till the end of time. Oh! South Africa, Sunshine and moon Shall henceforth be your enemies As you enviously take to killing Your visitors as your foes Inlure of taking them as your friends. - ONWUMERE is a Poet and Writer. He lives in Rivers State

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

The Mega City

...EXCLUSIVE LAGOS MAGAZINE

Parade of aquatic vessels and aquatic activities during the Lagos Water Regatta 2015

PHOTO: Suleiman HusAini

Splendours of Lagos Water Regatta LIFE IN THE CITY

Muritala Ayinla

Battling with fake job providers

MY CITY MY WORLD Ajomale Afolabi: I want an effective system of government

OLUWATOSIN OMONIYI CO-ORDINATOR

tosin.omoniyi@newtelegraphonline.com

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he aquatic splendour of Lagos was last Sunday showcased with the annual Lagos Water Regatta, a water-based cultural sporting and recreational activities which was held amidst fanfare pageantry and glamour. The festival, celebrated annually as part of the Lagos Black Heritage Festival, was put together to exhibit diverse functions of the boat as put to use, in the yester-years, from community to community. The State Governor, Mr. Babatunde Fashola started the annual celebration in 2009 to promote one of the state cultural values, and has yearly attracted more participation from both within and outside the state with the participants featuring in most of the activities at the festival such as open water swimming, boat race and the traditional boat parade, among others. Six years after, the fiesta has developed beyond a mere fish-

State Government would continue to move the frontiers of the festival

ing communities fiesta to an international festival which showcase a parade of decorated floats on the creeks around Lagos Island, Ikoyi, Victoria Island and Lagos mainland as well as other states and African countries. Last Sunday was not different, as ealry as 7:30 am, all the regatta floats comprising large fishing boats, ferries, barges and other marine vessels, beautifully decorated in style depicting their social, cultural and occupational aspects had postioned on the shore of the lagoon to celebrate the 2015 water regatta. Despite the postponement of the festival as a result of the General Elections in the country, the 2015 Lagos Water Regatta witnessed more participation and greater splendor as more states of the federation and international clubs and organizations made their entry and added colour to the various activities marking the event. The colourful event also

featured the parade of speed Boats and Yachts by Boat Clubs, Association and organisations who are actually the trail-blazers in water based events. There was also paddled Canoe racing competition which involved all the 57 Local Government Council and Local Council Development Areas in the State. The fiesta also featured such events as parade of beautifully adorned boats and yachts that came in exciting shapes and designs including some sea monsters, large fishing boats, ferries, badges and other marine vessels, water sports such as boat racing and open water swimming as well as exotic displays by power boats and jets skiing displays. Participating organisations and clubs added more colour to such activities as parade of boats and yachts, boat race, Skiing and open water swimming among other events. CONTINUED ON PAGE 22

Life | Mega City

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

The Lagos’ aquatic festival

Flying on the water CONTINUED FROM PAG E 21

In attendance of this year’s edition, with the theme: “Celebrating the Aquatic Splendour of Lagos,” were participants from other riverine states like Delta, Edo and Akwa Ibom as well as the University of Ibadan, among others. Entertainers, music disc jockeys and other prominent Lagos residents and members of the international community as well as fun seekers across the country added colour to the fiesta.

Speaking at the colourful event, which took place at its usual venue on Oyinkan Abayomi Drive, Ikoyi, Governor Fashola, expressed joy that participation in the festival has grown beyond the boundaries’ of the State with each year bringing more colours into the event. Governor Fashola commended other sponsors, who partnered with the state government for making it possible to hold the event annually, saying the State Government would continue to move the

Ijede Community Boat on display during the Lagos Water Regatta

The Regatta was gaining international recognition

PHOTO: Suleiman HusAini

frontiers of the festival which is mostly meant for relaxation and keeping alive the traditional legacy of the State. The Governor, who was represented by the Commissioner for Tourism and Inter-Governmental Affairs, Mr. Disun Holloway, expressed pleasure at the ability of his Ministry to package this year’s event. He appealed to Lagos residents to endeavour to attend other activities marking the Lagos Black Heritage Festival such as the Carnival which will now take place, May 2, 2015. Commending Gover nor Fashola for his vision in establishing the festival, the 2015 Lagos Water Regatta Admiral, Rear Admiral Egbedina, described the festival as an open door to prosperity through Tourism and an opportunity to expand the economic horizon of the State and Nigeria. He called for more participation among Nigerians and foreigners in other to realize its full Tourism potential. Egbedina, who is Also the Flag officer Commanding Naval Training Command, noted that the Aquatic Splendour of Lagos was rooted in the various ways water in the State have been used over the years by both foreigners and the people of Lagos for the socioeconomic prosperity of the people. Chairman of the Lagos Water Regatta 2015, Engineer Olusegun Jawando, noted that

this year’s festival would mark the last edition for the Governor as helmsman of the State, expressing delight that the Regatta was gaining international recognition. Jawondo added that aside the participation of neighbouring African countries such as Ghana and Togo, the festival was now being listed on the calendar of the International Dragon Boat Federation. Highlights of the event included the giving of prizes to winners of the various competitions such as the boat parade and open water swimming which featured men and women categories and exotic displays by the Lagos Jet Skiing Club. Nigerian states that featured in this year’s event, according to the Chairman, include Osun, Ondo, Ogun, Oyo Cross-River, Akwa Ibom and Delta while international water-based clubs like the Lagos Jet Skiing Club, added colour and splendour to the festival. Local communities that participated in the event included Ibeju-Lekki, Badagry, Campos, Epe Olowogbowo, Awori, Ibeshe, Takwa Bay and Agbowa Ikosi, among others, while participating organisations included Lagos Waste Management Authority (LAWMA) Marine Service, First Bank Plc, Keystone Bank, Zenith Bank and Lagos Internal Revenue Service.

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Lagos Secretariat NUJ chapel honours administrators, managers Muritala Ayinla

ard work pays. It pays more when someone combines humility with creativity and the passion to deliver on the responsibilities. So, it was for some Lagos Commissioners and Special Advisers to Governor Babatunde Fashola recently when the Nigeria Union of Journalists, Lagos State Information Chapel honoured them for distinguishing themselves among their peers. They were honoured for creatively adding values to the service delivery in the state and for making difference in the public service. Some of the awardees were the Lagos State Commissioner for Physical Planning, Mr Toyin Ayinde; his counterpart in the Transportation, Comrade Kayode Opeifa, the Commissioner for Information and Strategy, Lateef Ibirogba. Others were Special Adviser to the Governor on Information and Strategy-Lateef Raji, his counterpart on Media- Hakeem Bello and Permanent Secretary Ministry of Information and Strategy, Mrs Oluranti Odutola. Speaking after receiving the award, the Commissioner for Physical Planning, Ayinde described the award as something that will spur him to work harder, despite having less than two months in office. “I have a few more weeks to go and receiving an award now is suggesting to me that I must not do anything bad to make the award unnecessary. I am hoping that the next couple of weeks will make me do better, having been given the award. Award usually is for people who are focused. Award shouldn’t be a distraction and it is an opportunity to renew your energy. Ayinde who also got another award by the Nigerian Institute of Town Planners for distinguishing himself in the public sector, assured that residents in the state that he would do all he could to enhance service delivery in the area of urban and physical development in the state. “In the morning I was given an award by the institute to mark my appointment into the exalted office of the honourable commissioner in the state. It is rear opportunity, it doesn’t come to everyone. I am not the only town planner; there are various other town planners. The office came to me as a privilege and for the institute to have given me the award,also implies that I have probably conducted myself in a civil manner and added value to that office,” Ayinde added. Also speaking, Opeifa said that the award will go along in his commitment to improve transportation sector in Lagos. The commissioner promised Lagosians to expect more poli-

Director of Press and Publicity Mrs Toro Oladapo presenting the award to Ayinde with them is NUJ chairman, Lawal

Director of Press and Publicity, Ministry of Health, Mr Fola Adeola presenting the award to Opeifa, with them is Mrs Lawal

cies that will enhance their living standard in the area of transportation. “I strongly value the award especially when it was not sorted for. I’m not somebody who takes award, I never solicited for it. Even when the nomination came, I never kept the date until I was reminded; an award for innovation means, call to do more. So, I cherished it.” For Special Adviser to the Governor on information and Strategy, Raji, who was honoured for being innovative in the information dissemi-

nation of the state government’s policies on the social media, the honour was commendable. Raji said: “I will put it this simply; it is the greatest thing ever to happen to anybody. To be honoured by close associates is the greatest award one can get. It means you are appreciated as a person, and you must have impacted on them one way or the other to deserve such a high commendation from them. I was not only given an award, I was invested as

a life patron of the NUJ, Information Chapel. It doesn’t come any better. I’m proud and grateful to the executive and members of the chapel.” Meanwhile, the NUJ Lagos Information Chapel, Adeola Lawal, said the information managers in the state Secretariat decided to honour the awardees to encourage public office holders who have not only added value to the service delivery in the state but also positively impacted on the lives of the workers in the state public service.

They were honoured for creatively adding values to the service delivery in the state

Life | Mega City

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

It’s good to have non-indigenes in Lagos assembly, says Kunnuji Lagos, not a one-city state. It is unique and rates high in a number of ways which have attracted accolades and exemplary commendations from within and overseas. The unprecedented trend that is unfolding on the political landscape of the Centre of Excellence has thrown up in the state a novelty which will irrepressibly reverberate on the wider national political terrain in times to come, and set the path for a new political culture. Dr. Michael Kunnuji, a sociologist in the University of Lagos, in an interview, discussed the sociological implication of the emerging trend and a plethora of other issues as they affect the development of the state. ELIJAH SAMUEL met with him What do you make of the emerging trend on the political landscape of Lagos? he observation we are beginning to have now is that it is the first time that the people who are not from the southwest will be found in the state assembly. For me, it is wonderful and welcome development; it is a lesson for the rest of the nation, and this is how democracy should run. Going to the state assembly should not be a function of whether you are from the west or the east. If you are from that state by birth, then you can actually claim the citizenship of that state. That’s what the constitution says. So, we are beginning to move in that direction. The house of assembly or representatives should actually be a true replica of the entire population. And that’s what we by democracy that is, the government of the people, and we now have people truly ruling through their representatives. If the people in government don’t replicate the population, then there is a problem. In Lagos State for a long time, and in other states, we had a legislative assembly that did not typify the population. And if it does not typify the population, there is no way those people (legislators) will represent the people. But now, we are beginning to have an assembly that, to some extent, typifies the population of Lagos State. We have a good mix of Nigerian population in Lagos, but before now, only Yoruba people are found in the state house of assembly. That means that the assembly never truly reflected the mix of the residents in Lagos State. This is going to help the nation because what’s happening at the local level will after some time, begin to determine how people are voted into state assemblies

Dr. Kunnuji

in other states. It is the starting point and it good for the unity of Nigeria.

western Nigeria. Lagos State is rather the pride of Nigeria and possibly the pride of Africa.

As much as it is desirable to have the state assemblies reflect the true population mix in the state, do you think it is necessary to have some criteria to measure a person’s qualification to stand for elective position in a state? If you think that there are criteria in the constitution that those people don’t meet, it is a legal matter and you should take it to court. The assumption now is that what has happened is in line with the provision of the constitution; and until we prove that it is not so, we assume in their favour that they have not done anything contrary to the law.

As things stand today, do you think the Egun People are well represented in the state? They are not well represented. They have been short changed for a very long time now.

Do you share the view that Lagos is a ‘no-man’s land’? I don’t share the view that Lagos is a no-man’s land. I believe that Lagos is everybody’s land. I am from Lagos State, and I’m one of those who can legitimately lay claim to being a Lagosian. The people who took over Lagos State from the true owners are the ones who are in fact, shouting the most: the people from Ogun State, the people from Oyo State, the people from Osun State, some are from Ondo, Ekiti and Kwara States. They are the ones making the most noise than the Awori and the Egun people and may be, people from Ikorodu and Epe, who should be claiming to be true Lagosians. Look at the way the state institutions in Lagos have been taken over by people from Ogun, Osun,Ondo and Ekiti States. The true owners of the state are not complaining, but now that the other Nigerians are also saying ‘we have share in the state’, they are the ones complaining. There is a problem with that. Lagos should be the pride of south

If you are from that state by birth, then you can actually claim the citizenship

What do you think is responsible for this back-seat status of the Egun people in their state? What is responsible is so very deep. One, they are very accommodating and have room for all comers. Because they are accommodating, people come from outside the state; they are settled and assimilated even to the point that they now take over the affairs of the state and relegate the original owners of the state. Yes, the Egun people are not well represented: that’s a problem but we also believe in meritocracy. For that, I will not subscribe to a system that dictates that because you are from this state, you should be given undue preference over others. Let the system be fair and let people compete so that you can have what you have on merit. What’s your psychological value of the votes in the just-concluded elections? That’s another kettle of fish. Even though to a large extent, we will say the elections were peaceful and credible, but so many things still went wrong. We feel strongly that some of the figures we got from some states were questionable. The figures we got from Rivers, Akwa Ibom, Kano, Katsina States look questionable. Even in Lagos, from what we could see, even though it’s difficult to validate that, there was a relatively lower turn out during the gubernatorial elections. But the result proved otherwise that we had more people than we

had during the presidential election, and that’s hard to believe. But on the whole, I’m happy that the exercise was relatively peaceful and we can move on. Do you think elections alone are enough to make the people’s votes count? Yes, if elections are free and fair. But elections largely are not always free and fair. Many of the people, like the ad hoc staff of INEC who get involved in the electoral process will tell you that they get threatened sometimes at gun point to do certain wrong things, failure for which they will lose their lives or family members. And for that reason, people who ordinarily will like to do the right thing, end up doing the wrong thing. And in Nigeria because people don’t trust the state to protect them, they are not likely to take matters before the state because they believe that politicians are very deadly and can kill. In some places for instance, we heard that people were coerced into voting those they didn’t wish to vote for. Given the experience of the last elections, how will you describe the quality of the voters? For me, the quality has not improved. The funny thing in this democracy is that there is an underlined assumption that the voters themselves have what it takes to evaluate the options before them and can decide to do the right thing. We have carried over that assumption, but in our own society, it is not true that they have the capacity to evaluate the options before them and do what is right. They don’t. Typically, in a democracy, the assumption is that somebody who works as artisan is not less equipped to evaluate the options than somebody who is a univerCONTINUED ON PAGE 25

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Lagos, not a one-city state use computers. If you are using money to build roads and not the people, you are destroying a nation; the people are the wealth of a nation.

CONTINUED FROM PAG E 22

sity professor. It is for that reason that that carpenter has one vote and that professor has one vote. But sincerely, can we say the capacity of the carpenter to evaluate the options before him is the same with that of professor when we don’t teach civics in schools: people don’t even understand what is expected of them, they don’t understand what role they have to play within the political system. They don’t even know how a political system works. It will be false to say they are fully equipped to evaluate the options before them. And that’s a major problem here. Democracy will work where everybody has basic education, and that basic education is incomplete without civics: the education that will make you understand your role within the political system; that will make you understand your rights as a citizen, that will make you understand your responsibility to the state as a citizen, and that will also build in you that patriotism that is required of every citizen. If all these are missing, and you are giving people ballot papers to vote, you are just messing up the whole system the more. That’s what we are experiencing here. I just hope that someday, we’ll be lucky to have governors and presidents that will understand these things and be altruistic to put things in right place. Otherwise, we’ll be moving in a circle. Before we get to the era when basic education would have been commonly achieved, what should guide a common voter in assessing a candidate being put forward in an election? A common voter can’t see that thing. The reason is this: the first law in life is the law of survival. And until a man is sure of his survival, all rules of morality will be suspended. You can’t start telling people about morality and doing what is right if they are not sure of their survival. Like it is commonly said, that a drowning man will hold unto anything he can find in sight. That is the situation because of the level of poverty where the basic things in life are missing. It is for that reason that ‘stomach infrastructure’ still play a major role in our democracy because the politicians, whether it is the PDP or APC, have this understanding and take advantage of it. However, if the people have been able to overcome the initial challenge of survival, the ideal thing is to focus on any policy that will positively enhance their access to education. Without education and good medical care, the nation is going nowhere. So, the issues voters should be looking at are: who is going to give us education, who is giving us medical care? So, if as a candidate, you don’t have these things as your priorities, the people should vote you out. With all the effort made by the government, look at the state of public primary schools in Lagos. How many send their children to those schools? Only those who have no choice send their children there. That’s why you have all the mushroom private schools where people prefer to send their children no matter how bad a child is. In other climes, it is the other way. Primary education should be compulsory and should be handled by the government. As at that point, people should not be paying; basic education should be free and should be a place not attractive to private investors. What should be done to revitalize public primary schools in Lagos in order to build the residents’ confidence and enhance their patronage?

What’s your assessment of the megacity project in Lagos? In the first place, what is megacity? What is the city? If the idea is that the whole of Lagos is what is being referred to as city, that idea is erroneous because the whole of Lagos is not one whole city. Typically, we know the City of Lagos to be made up of the Lagos Island and Lagos Mainland. That is in tradition sense what is referred to as the City of Lagos and Lagos Metropolis. So, it is difficult to understand what people mean when they talk about Lagos megacity meaning that Lagos is one city. It is not true because you have space separating some of the parts of Lagos, and again we have some unoccupied land. So, we can’t talk about the whole of the state as a megacity in a very strict academic sense. But if what is being referred to as megacity project is the beautification of Lagos, it is a good thing. But there are some other basic things that should, if not come before beautification, go along with the beautification project. Look at an instance where in a house the children don’t have food to eat, basic things are missing in the house and the man of the house decides to paint the house and install Air Conditioner when there is even no power. Beautiful things are good but the basic things like good basic education and medical care should be given adequate attention.

Dr. Kunnuji

I would have advised that we do a study which will clearly document the state of public education at the primary level in Lagos, with a mind to ascertaining the availability of facilities and the quality of manpower. If we have a properly done study, then we can come up with solutions that will work which will be on short term and long term basis. Public education, especially at the primary level, has failed. Out of a hundred percentage, I will score public primary education between 13% and 15%. Does it mean that Governor Babatunde Fashola’s administration has failed in lifting primary education in the state out of the doldrums? He has not done very well; he has only done much in terms of providing infrastructure; building roads. Those things are not equal to development, but unfortunately, those are the things people get to see. So, people now equate building of roads with development. No, we are only deceiving ourselves. The real development in any sound society is the human development, which is the development of the people. I liken human development or capacity building with refining petroleum. We have crude oil in Nigeria, but everybody knows that you don’t just pick crude oil and put in your vehicle. It has to be refined. So, the same applies to developing the people and this requires that the government should invest heavily in refining them. Refining them means they should be given quality and world class education. That’s what we are not doing, and we are making primary education attractive to people who want to make money: you see them (private schools) everywhere, up to six or seven on some streets of Lagos. Primary education should be the business of the government. If you don’t give the children good education and they get it wrong, you will kill the potentials in them. The basis for development is actually the skills inside the people. If people get access to good education, they can invest in things that will bring resources from all over the world. As it is today, we all contribute to the economy of the United States of America because we

Someday, we’ll be lucky to have governors and presidents that will be altruistic to put things in right place

What do you proffer that the government should to decongest the metropolis? Among several things, the government can relocate the seat of government from where it is at present. We all know that the seat of the Federal Government was once in Lagos before it was moved out to Abuja. It is not peculiar to Nigeria as this has happened in several places around the world. Places like Badagry, Ikorodu or Epe are possible places the state government can move into. Another possible solution to the issue of congestion in Lagos is the issue of huge markets we have in the Lagos metropolis, particularly the huge market on the Island. But I believe that market can be better planned, structured in a way that it will generate more resources for the state and not hamper free human and vehicular movement. It is also possible that we pursue a policy that will ensure a spread of the industries in other parts of the state other than the metropolis. With the hopeful restoration of power, I believe the industries, many of which are dead or relocated, will come back alive. This will also enhance the development of those hinterlands. How would you rate local government administration in the state? Governance at the local government level is rated 3 per cent by me. It is woeful. But we hear that they have no autonomy and that the state government often controls the funds made available for the local government. All the minor roads under local government are in terrible state. The state government should give them room for their autonomy, and perhaps monitor them to make sure that they are also working. They (state government) should not encourage that their money is given to Mr. Somebody. It should not work that way because the money is meant for development.

Life | Mega City

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Bad road hinders Ogba Retail Market Ogba Retail Market is at the centre of Ogba area of Lagos. It shares connectivity with roads leading to Agege, Oba Akran and Berger, among others. Aside buying and selling activities, the market also hosts arrays of commercial buses for commuters to different parts of the city. The popular Sunday Market is also inside Ogba Retail Market. Be that as it may, the roads within the market are terrible, thereby making it a nightmare for both commuters and traders. Traders complain of poor sales and loss of patronage. Adebanke Falade reports

uddles of water are found all over the Ogba Retail market when it rains because there is no visible gutter that runs through the middle of the market. The gutters are situated at the extreme sides of the market. It would seem that the founders of the market did not take into consideration the heat that the owners of the shops will feel when there is no light, and the puddles of water that would be found everywhere since there is no proper drainage system, the crowd that will navigate through the choked areas. The category of people that occupy the market can be divided into five; people dealing with food, clothes, hair, jewellery and other services. Most occupants are those dealing with food, hair design and those that offer tailoring services. About a year ago, there was the rumour that the government wanted to demolish the market and build a new structure, a more modernised structure to replace the old squeezed and dilapidating stalls. That was met with strong opposition by shop owners, most of them refusing to leave, stating clearly that there is nothing wrong with their shops. Hence, there was no need to rebuild. Rather, they asked the government to focus on the road, and not on rebuilding the shops. It appeared that the only ones concerned with the plans of the government are the shop owners for they continually battled the decision until it was changed. Those with shops occupying opposite the Ogba Retail market are not in the least concerned, because it means different positive things for them, more customers, less competition, and a better road. During the opening of Wemco road on Friday 16th April 2015, Governor Babatunde Fashola stated that the Abiodun Jagun road has been designated for cars and not for hawkers or for the sale of items; it is strictly for vehicles, with a pathway for pedestrians. He warned the people selling by the road side to cease from doing so,

The entrance to Ogba Retail Market

Within the retail market-puddles of water

urging them to take their wares into the market. The sale of items on the road is dangerous for pedestrians because they will be forced to walk on the main roads. He assured the traders that the road will be fixed and brought under good usage. Ogunsina Joseph, the Babaloja of Ogba Retail market has been the Babaloja for close to 15 years. He explained why they were opposed to the knocking down and rebuilding of the market. He said: ‘’At a point the market was about coming up, when the local government officials came and said they wanted to demolish the market. Meanwhile, the new Mega Market will not be affordable by the people. It will displace a lot of people. Most of them will have to move their wares to the roadside; livelihoods will be lost, the people here can never come

back if they make it a Mega Market. There must be a grassroots market for the people, and our market is neat and comfortable for the people here. Tejuosho is still there uncompleted. The people cannot afford it. Oyingbo has been there for 15 to 20 years. They are just about completing it. The original people cannot go back. Most of them would have died because the moment you are displaced for two to three months, you can never be the same again. They cannot continue to demolish shops without making options available for the people who get their livelihood from there. Mega shops aren’t for the grassroots people. This Ogba Retail market is going to be great. We discussed with government officials and they have mellowed down on talks of demolition. People have been coming to rent shops. The Abiodun Jagun road is important to this market; it’s a linking road both from Wemco and Ijaye. If the road isn’t done, we are still nowhere. The government has to help with the road. The parking space is okay for the crowd we pull in; it is adequate for the market.” Peter Ologunkeji , a shop owner said: “I have been here for 13 years. At that time, I had so much sales, and it surpassed what I expected. Now, I hardly make sales. There’s no light in this market. I have to reduce cost of production, so that I can make a bit of sales. I keep hoping for more customers, but with the bad road, that seems like a dream that will never see reality.’ Elizabeth Kolawole of Cornerstone also complains of the road. ‘Yes, it affects our market; the tyres of our customers’ cars are spoiling because of how bad the road is. They are always discouraged when they think of manoeuvring this road. There’s also no light. I have to run on generator all the time, which is a minus to my profit.” Adebola Adedehinbo, owns up to

four shops in the market. One is a tailoring saloon and the others for a warehouse. She has been continually praying to God that the road will be fixed. She believes that it is only God that can help the traders in the market. She strongly believes that the market will boom when the road is done. “We are the people that voted APC in. Yet, they are treating us badly”. She recalls a few months before the election when the opposition party came to clamour for votes. She remembers that they promised to work on the road as soon as they are voted in. Miss Tola...,a frequent customer of one of the hairstylist complained of how bad the road is, even going as far as saying if she was pregnant, she probably would have lost the baby driving on that road. She has been coming to Ogba Retail market for such a long time-5 years. She’s used to the area, and that’s why she hasn’t thought of going elsewhere to make her hair. Sarah Johnson works at Tatodella. It is a shop whose maker deals with the sale of chin-chin and plantain chips. The workers have little or no complaints at all. “We believe that the Governor-elect, Akinwunmi Ambode will help with the road. God has been good to us, we have customers and we sell all we make”, said one of them. Gbemi of Gbemac Fabrics situated across the retail market also complains of the road. She opened her fabric business on the road two years ago, and sales haven’t been fantastic. She has never seen the road been decent and motorable. “I got a shop along the road because people inside the retail market don’t get as much customers as I do. It would be good if the road is fixed. In fact, this place has prospects. There is a garage. So, there’s never a shortage of people coming and going CONTINUED ON PAGE 27

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Our Expectations

Ajomale Afolabi: I want an effective system of government y expectations for the Gov“M ernor-elect, Akiwunmi Ambode’s government are

Battling with fake job providers Ruth Okocha

dward Ikemefuna was visiting Lagos for the first time from Enugu State. He came with high hopes of getting a well-paying job, having heard a lot about the big city. He was filled with excitement because his friends had made it big in Lagos; even his own brother whom he intended staying with is relatively comfortable. His expectations were high. As he entered the big city, various sign board advertising vacancies was everywhere. He decided to call some of the mobile numbers on the signboards to inquire about the vacancy despite caution from his brother. There and then, he was asked to send his qualification to the number after which he was called the next day for what they called training for the invisible job. He attended the training each day and was required to pay the sum of N1, 000 for consultancy. He was promised the position of a manager, with an attractive salary and other side attractions. This continued for a month until he was fed up and decided to return to the village where he started farming to fend for his family. This is one of the cases of most novices visiting Lagos with excitement but had returned to their various states with dashed hopes

and expectations. These agencies, who are supposed to be service providers, turn out to be sorrow providers. Some individuals have been victims of robbery, rape or even beaten thoroughly when they fail to meet up to their demands. Another case is that of Eniola Martins, working as a driver in one of the financial institutions. He was employed on contract by an agency in charge of employment; his salary is paid to the agency instead of his account. Before the money gets to him, it would have been deducted because, the agency deducts the salary and pays him what they feel he should earn in a month which means he works and keep paying the agency for offering him a job. When asked by New Telegraph why he choose to keep working there, he said, “ I don’t have an option for now because I have responsibilities which I must meet up to.” This is the plight of many people in this big city; they work and another person earns at their own expense. It’s all over the internet, vacancies, ads, some pasted on walls all over the streets, others handwritten on cardboard paper or walls with their mobile numbers attached and people are defrauded each day of their belongings and yet the government who is meant to provided jobs and security is silent. Almost all vacancies have been handed

over to private agencies where people are required to pay consultancy fee just to submit CV or to be heard. The agencies sometimes go as far as collecting the first two months salary of the individual before they finally start working independently. Hilary Okonkwo, working with a restaurant as a waiter in Alausa was a victim of this. He had applied for job severally under the same agency and each time he requested for a new job, he was asked to pay another consultancy fee and two months of his salary. This payment must be paid to them whenever they secure a new job for him. He was also made to sign an agreement form so as not to deviate after starting the job. He lives on his merge salary and also has to caters for his aging mom and siblings. So, are these agencies actually reducing unemployment in Lagos, or extorting people all in the name of getting them a job? Although some recruitment agencies like Jobberman have done well and have helped in eradicating unemployment to an extent, majority of the agencies are fraudulent in nature. Sometimes while walking on the street, hungry looking individuals share fliers on job recruitment, attached are very attractive salaries and people keep asking them why they can’t apply for such jobs if it was indeed available.

Bad road hinders Ogba Retail Market CO NTINUED F RO M PAG E 26

The road isn’t only a hindrance to the Ogba Retail Market, the commercial drivers and tricycle otherwise known as keke-napep riders have their own share of complaint. Kudus Balogun, a commercial bus driver, said “it doesn’t cost much to fix the road, they fixed Wemco road because of the new estate, and left us to our fate, we don’t have peace of mind. Navigating this Abiodun Jagun road is tedious for us and for our vehicles. The road spoils the spring of our vehicles, our ball joints, key pin, and thyroids. The new stones they used to fill the road is sharp, it spoils our

tyres, we don’t have the money to replace tyres all the time.’ Alaba DImeji, another commercial driver, is of the opinion that “the refusal of the government to fix the roads is just a sign of wickedness, I fix my vehicle every day, and we pay tickets to the local government council, environmental ticket and all sorts. I spend N20,000 on the spring of my vehicle almost every three weeks, I spend N8,000 on key pin, and I buy two key pins, I spend money on thyroid aside other expenses, it is too much, just to drive on this road. The sharp stones they just poured on the road makes it worse, it spoils our tyres , it is of no help to us,”

he said. Emmanuel George a kekenapep rider said, “it spoils my keke, it spoils the shaft, it costs N6,000 to fix the shaft, I have to fix the bearing, the shocks and even the tyres of my keke. The new stones on the road make it worse; it was at least bearable before, the roads have messed up everything. Now we have to divert by passing the longer route.” For Moses Abiodun, ‘it affects my keke and also my body. I have to continually visit a chemist for drugs to help ease my body pain. We spend more than we make, but I have no choice, it is my only means of livelihood,” he said.

well embedded in his manifesto, I don’t think I need to over emphasise it. I have gone over it, and I believe he concentrated on core areas. Ambode’s manifesto plans to make Lagos work for every- Afolabi one. I believe that his reference cuts across people in different sects of Lagos city-from ordinary to the big wigs, and from hawkers to those in corporate organisations. There are five core areas that I expect Ambode to focus on T.H.E.S.E, transport, health, electricity, security and education. The roads in Lagos are just too congested; it takes several hours to commute from the mainland to the highland, this is unacceptable. The security in Lagos state also has loopholes that need to be blocked and or tightened. The police need to be trained and equipped; given proper allowances so as to encourage them work harder. Electricity is one major thorn in the flesh of our industries. The standard of education in this country is decreasing by the day, the government needs to work on boosting the teachers’ morale before they can impact proper knowledge on the children. I believe I speak for a large percentage of youths when I say we want good governance, proper accountability; an effective system of government, a government that works hand in hand with youths to move the nation forward, a government that is concerned with the alarming rate of unemployed youths, a government that welcomes new ideas; we shouldn’t always follow a strict and archaic way of doing things.” I believe that if Ambode’s plan is followed sincerely, Lagos could be a template for other African countries to follow.

Abolore Olumide: The new government should be for service outgoing administraTthehe tion has tried and I hope good work continues.

Cost of governance should reduce at every level of government. Salaries of elected and appointed officials, must be cut down, being in government should be for service and not for perOlumide sonal enrichment. The barrister said, “the government should put more effort on the issue of security of lives and properties of the inhabitants and Businesses in the Lagos. The menace of Area boys and touts is becoming increasingly disturbing in the State. Street fighting is the order of the day in majority of our streets in Lagos and this need to be curbed. On employment, “unemployment rate is high; policies should be put in place to create jobs for the unemployed and underemployed youths in the state. The Barrister also said “Less than 30 per cent of the state populations have access to clean pipe-borne water, majority of Lagosians live on borehole supply of water”. The introduction of BRT to the state has help improves transportation system in the state and Lagos State Transportation Agency,LASTMA, has really helped, they coordinate vehicles , mostly the yellow buses popularly known as ‘DANFO’. He also urged the incoming administration on tertiary education in the state ” The new government should make it as a matter of priority that the state tertiary institutions, Lagos State Polytechnic LASPOTECH and Lagos state University LASU works and work efficiently.”

The Mega City

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

UPCOMING EVENTS

WED Expo Lagos 2015

Organiser: WED Expo Date: April 24, 2015 From: 10:00 AM Venue: The Haven Event Center Beside Arch Bishop Vining Memorial Anglican Church Ikeja GRA, Lagos Nigeria

Startup Grind Lagos Hosts Marek Zmyslowski (Jovago) Organiser: Startup Grind Lagos Date: April 25, 2015 From 3:15 PM - 6:15 PM Venue: Co-Creation Hub 6th Floor, 294 Herbert Macaulay Rd Lagos, 23401 Nigeria

CEO Mentorship Conference Organiser: Gtext Media and Investment Date: April 25, 2015 From 11:00 AM - 5:00 PM Venue: Lagos Chamber of Commerce and Industry (LCCI) Building Plot 10, Nurudeen Olowopopo Avenue, Alausa Lagos,Nigeria

CO-FOUNDERS MEETUP

Organiser: Netaviva Business Solutions Date: April 25, 2015 From: 11:00 AM – Venue: Co-Creation Hub Nigeria 294 Herbert Macaulay Road Sabo, Yaba, Lagos

IDEA SPRINT 1.1: Financial Inclusion

Organiser: Co-Creation Hub Nigeria Date: April 24, 2015 from 9:30 AM to 4:30 PM Venue: Co-Creation Hub Nigeria 6th Floor, 294 Herbert Macaulay Way, Sabo, Yaba, Lagos

Nigeria Photography Expo & Conference 2015 Organiser: eloPhotos Academy Date: April 26, 2015 From 7:00 PM Venue: LCCI Conference & Exhibition Centre 10 Nurudeen, Olowopopo Drive, Behind MKO Abiola Gardens Lagos, Nigeria

MEGA CITY EVENTS The new Head office of Nigeria Internet Registration Association (NIRA) was inaugurated at Funsho Williams Avenue, Iponri, Surulere, Lagos. PHOTOS: GODWIN IREKHE

L-R: Minister of Communication Technology, Dr. Omobola Johnson; President, NIRA, Mrs. Mary Uduma and Pioneer Chairman, Board of Trustees, Dr. Adeola Odeyemi…at the event. PHOTOS: GODWIN IREKHE

L-R: Members, Board of Trustees, Nigeria Internet Registration Association (NIRA), Dr. Chris Nwannenna; Mr. Shina Badaru and Mr. Emma Edet, during the inauguration of its new Head office in Lagos.

PHOTOS: GODWIN IREKHE

wedding of Stephen Ukadike and Miss Grace Agianpuye, at Assemblies of God Church, Ikeja, Lagos

L-R: CEO Ben Auto Plc/Groom’s parents, Prince Ben Ukadike; his wife, Omowumi; couple, Mr Stephen Ukadike; former Miss Grace Agianpuye; Parents of the Bride, Rev (Mrs) Dinah Againpuye and Rev Peter Againpuye, at the wedding of Stephen Ukadike and Miss Grace Agianpuye, at Assemblies of God Church Ikeja, Lagos..

WEDDING BETWEEN Herve Dawodu and Jacqueline Egbuchua in edo state

Son of Mr. Fortunatus Dawodu, veteran journalist, Herve Dawodu and his wife, former Miss Jacqueline Egbuchua at their traditional marriage held in Benin-City

The couple, Stephen and Grace, during their

PHOTOS: SULEIMAN HUSAINI

WEDDING BETWEEN MR OYEFOLARIN DIYA AND AGGYSKA, AT THE 10 DEGREES EVENTS CENTRE, IKEJA, LAGOS

The Couple, Mr. Oyefolarin Diya and Aggyska, cutting their wedding cake, while Mrs. Nike Akande officiates

The Couple kissing during their wedding reception

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

FCT Watch

Transcorp Hilton: Towering amidst security challenges

The Investor

Money

Maritime

Banks scramble to fend off crisis

Govt at crossroads over wheat importation

Need to leverage on Collective Investment Scheme

Business What's news

Aviation: Pilots, engineers proffer solution to strengthen sector The National Association of Aircraft Pilots and Engineers (NAAPE) has listed lack of financial availability, lack of effective strategies for policy implementation and the creation of requisite structures and environment for sustained growth as factors that have stunted the growth of aviation in Nigeria.

p.30

£7bn electronic waste pileup in Nigeria, others –UN report A report by the United Nations University (UNU) has revealed that gold worth more than £7-billion is being thrown away amid the 42 million tons of electronic and electrical equipment shipped to Nigeria, Ivory Coast, Ghana, and some African countries each year.

p.30

L-R: President/CEO, General Electric Africa, Mr. Jay Ireland; Chairman, Heirs Holdings, Mr. Tony Elumelu and President/ CEO, GE Nigeria, Dr. Lazarus Angbazo, at a dinner to celebrate GE’s partnership with Transcorp/Heirs Holding in Lagos...at the weekend

STOCKS

Nigerians will benefit more when telecoms firms are listed

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

ajor telecoms operators in Nigeria may be on a collision course with the Federal Government over the latter’s insistence on ‘compulsory’ listing of shares on the Nigeria Stock Exchange by the former, New Telegraph has learnt. The development is coming a few weeks after President Goodluck Jonathan’s announcement of a plan to ensure that the bulk of $32 (about N6.4 trillion) investment in the nation’s telecoms sector is listed on the NSE to boost capital market operation in the country. President Goodluck Jonathan had, last month, announced plan to come up with

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Telcos, FG may clash over N6.4trn listing incentives to make the telecoms companies and their counterparts in oil and gas as well as power buy the idea. According to the president who disclosed this during a visit to the NSE in Lagos, government attaches much importance to the capital market as it reflects significant performance of the nation’s economy and would do everything to make the market attractive to investors and issuers. He noted that Nigeria, as the biggest economy in Africa, should equally have the largest capital market on the continent, adding that the only way to achieve this was to ensure “that big companies operating and benefiting from the economy such as telecoms compa-

nies, among others, make their shares available for Nigerians to invest in and also benefit.” In the pursuit of this, the president explained that he had discussions with MTN during one of his visits to South Africa on the need to list its shares. “When I met with MTN in South Africa, we discussed the need for them to list. We are working hard to make sure that companies that are supposed to list do so because that is the only way the Nigerian capital

N2trn

Being the investment by MTN in assets and facilities across the country

market and economy can grow,” he had said. Meanwhile, it was gathered that for their reluctance to get their shares listed on the NSE about N6.4 trillion so far invested by telecoms companies in Nigeria, which could have created a rebound effect on the NSE has continued to elude the nation’s capital market. According to findings, a large chunk of this investment has been made by major foreign telecoms firms operating in Nigeria such as South Africa’s MTN, Airtel and Etisalat, as well as Nigeria’s Globacom. MTN, in particular, which is the largest telecoms firm in the nation’s telecoms market, has CONTINUED ON PAGE 30

Rates Dashboard INFLATION RATE March 2015.............................8.5% February 2015.........................8.4% January 2015...........................8.2%

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

EXCHANGE RATE (BDC as at Apr. 17)

USD . . . . . . . . . . . . . . . . . . . . . . . N210 Pounds . . . . . . . . . . . . . . . . . . . N303 Euro . . . . . . . . . . . . . . . . . . . . . . N223

l Foreign Reserves – $29.481bn as at 16/04/2015

Source: CBN

EXCHANGE RATE (Interbank as at Apr. 17)

USD . . . . . . . . . . . . . . . . . . . . . . N199 Pounds . . . . . . . . . . . . . . . . . . . N301 Euro . . . . . . . . . . . . . . . . . . . . . . N214

Business | News

SETBACKS

Airlines are the basis of aviation and should therefore be its fulcrum and epicentre Wole Shadare

he National Association of Aircraft Pilots and Engineers (NAAPE) has listed lack of financial availability, lack of effective strategies for policy implementation and the creation of requisite structures and environment for sustained growth as factors that have stunted the growth of aviation in Nigeria. National President of NAAPE, Isaac David Balami, said although the Nigerian aviation industry had endured numerous setbacks, it was still standing strong. He reiterated that the current situation was far from perfect, stressing that more could be done to attain international standards with a positive ripple effect on Gross Domestic Product (GDP), investment opportunities and national development. According to him, there is no gainsaying that airlines are the basis of aviation and should therefore be its fulcrum and epicentre.

Aviation: Pilots, engineers proffer solution to strengthen sector He said: “Ideally, all policies, programmes and actions of industry stakeholders, particularly policy makers, should be such that will promote the good health of airlines. This has not been the case in Nigeria. As a

invested till date over $13 billion (over N2 trillion) of the total $32 billion (N6.4 trillion) investment in fixed assets and facilities nationwide to provide cellular network services. Airtel, Etisalat and Globacom did not release their total investments in the country till. New Telegraph, however, learnt that the remaining balance of the $19 billion from the total $32 billion was invested by other telecoms companies in the country. According to the latest official industry data released by the telecoms industry regulator, Nigerian Communications Commission (NCC), in terms of percentage market share by technology, GSM companies currently control 98.38 per cent of telecoms market in Nigeria. The Code Division Multiple Access (CDMA) segment, which used to have operators such as Starcomms, Multi-Links and Zoom Mobile as players hold 1.49 per cent market share while the fixed wired/wireless segment

result, the Nigerian aviation landscape is littered with corpses of airlines bearing various epitaphs: “died due to poor economic regulation”, “died due to absence of enforcement of regulations,” “died due to lack of, or poor fund-

ing”, among others.” Balami noted that as a direct result of this unsavoury situation, it would be difficult to find a viable airline in Nigeria if international aviation benchmarks were strictly applied, adding

that regrettably, it was more difficult to find an airline that has declared dividends in Nigeria in the last five years Other factors militating against the growth of Nigerian carriers, according to him, are suffocating

operational environment evident in the skyrocketing cost of aviation fuel, cost of maintenance, cost of aircraft and spares in the face of worsening, exchange rate, excessive charges, multiple taxation and ageing fleet.

L-R: Professor of Government, Harvard University/Keynote Speaker, Prof. James Robinson; Managing Director/CEO,Wema Bank Plc, Mr. Segun Oloketuyi; Discussants, Mrs. Oby Ezekwesili; Pastor Tunde Bakare and Prof. Oye Ibidapo-Obe, at the bank’s 70th commemorative lecture entitled: ”Why Nations Succeed” in Lagos. PHOTO: GODWIN IREKHE

Telcos, FG may clash over N6.4trn listing CONTINUED FROM PAGE 29

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

control a paltry 0.13 per cent market share. In the CDMA market, only Visafone Communications Limited is currently operational, but is on the verge of being acquired by MTN Nigeria. In terms of percentage of market share by GSM operators, MTN currently has 61 million mobile subscriptions (43 per cent) on its network; Globacom with 28.8 million (21 per cent); Airtel with 28.3 million (20 per cent) while Etisalat, which is the fourth largest telecoms operator, in the country, has 22 million (16 per cent). Meanwhile, despite the ongoing advocacy for major telecoms firms to get their shares listed on the local bourse and accentuated by the president, telecoms operators said that they would resist any attempt by government to compel them into compulsory listing of their shares. The operators spoke through their umbrella body, the Association of Licensed Telecoms Operators of Nigeria (ALTON).

£7bn electronic waste pileup in Nigeria, others –UN RISK

The mountains of e-waste contain alarming quantities of toxins Bayo Akomolafe

report by the United Nations University (UNU) has revealed that gold worth more than £7-billion is being thrown away amid the 42 million tons of electronic and electrical equipment shipped to Nigeria, Ivory Coast, Ghana, and some African countries each year. Also, it was revealed that some 11,500 shipping containers were illegally exported from the United Kingdom each year containing either household or electrical waste to African countries. The e-waste include mobile phones, steel, fridges, computers, office equipment, microwaves or toasters, washing machines, dryers, television, radio and other electronics appliances. Researchers said that the unquenchable appetite for electronics and appliances both in developed and developing countries

was generating enough waste to fill 1.2 million 40-ton lorries each year. A queue of such lorries would stretch from New York to Tokyo and back again. It was learnt that the amount of the e-waste generated globally is increasing by two million tons a year and would reach 50 megatons by 2018. Heavy metals and other chemicals commonly found in electronics such as mercury, cadmium and beryllium can leach into the ground and water supplies, causing kidney and liver damage and impaired mental development. It said that Britons were among the planet’s biggest generators of hi-tech junk. The report identified Britain as among the world’s most profligate producers of e-waste, ranking fifth in the weight of material discarded per inhabitant, with each Briton generating 23.5 kilogramme each year. The United Kingdom was also sixth worldwide in the total amount of e-waste the country generated, with some 1.5 megatons – barely 100,000 tons less than India, which has 20 times the population. It also warned that less than

16 per cent of global e-waste was being diverted from landfill into recycling and reuse – representing the loss of an urban mine of potentially recyclable materials worth over £34 billion. Among the resources being lost annually, as millions of items from mobile phones to fridges are inadequately disposed of, are 300 tons of gold (equivalent to over a 10th of global production in 2013) as well as 1,000 tons of silver worth £400 million and 16 megatons of steel with a value of £6.5 billion. The fast-growing mountain of waste also contains alarming quantities of toxins, including 4,400 tons of ozone-depleting chemicals and 2.2 megatons of lead glass weighing more than the equivalent of the Empire State Building. The UN Under-secretary and Rector of the Tokyo-based UNU, Mr. David Malone, said: “Worldwide, e-waste constitutes a valuable urban mine. The hazardous content of e-waste constitutes a ‘toxic mine’ that must be managed with extreme care. There is a large portion of e-waste that is not being collected and treated in an environmentally sound manner.”

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

FCT Business Watch Abdulwahab Isa Abuja

o sector of the economy escaped blistering security challenge thrown up by the activities of Islamic militants - Boko-Harram. The deadly sect had started off on a low scale, limiting their rage to the enclave of North East, but slowly spread its animosity to other northern parts of the country, including the Federal Capital Territory, Abuja. It almost succeeded in crippling some vital economies of the region, save for the bold confrontation and tactical reprisal by the combined team of military forces. In the midst of the rage, tourism and hospitality sector of the economy regarded by many as an alternative cash cow, contributing significantly to the nation’s GDP and generating handful of employment, got significant share of insurgency outbreak in some parts of the North. In Abuja and other parts of the region for instance, public places, relaxation spots and hotels became soft targets of attacks by members of the Islamic militants, a situation that left such businesses to either close shops or employ additional security measures if it must remain in business. Hotels and hospitality outlets in Abuja in the mode of prestigious Transcorp Hilton Hotels, Sheraton Hotels, Rock View Hotels, Nicon Luxury, the Amusement Parks in Maitama and other relaxation spots suffered huge losses due to the activities of insurgency. Impact of insecurity The Chairman, Advancement for the Rights of Nigerian Shareholders, Dr. Farouk Umar, succinctly captured the telling effect of insurgency on hotel operations in Abuja and its environs. Addressing shareholders of Transcorp Hotels during the hotel’s first Annual General Meeting (AGM) in Abuja, last week, Farouk lamented the dire consequence insurgents’ activities were having on Hotel business in Abuja. An investor in Transcorp Hotels, Farouk spoke against the backdrop of tensed challenging operating environment that characterised hotel business last year. “Many companies used to come here in Abuja and our hotel is the preferred location for their engagements, but the emergence of insurgency and insecurity in Abuja has made them relocate these meetings and conferences to Lagos and other parts of the country considered safer,” recalled Farouk. Aside substantial decrease in patronage caused by insurgency, the insecurity also exerted huge operational expenses on hotels as extra security measures are deployed within and around the premises to guarantee the safety of the premises and guests.

Transcorp Hilton: Towering amidst security challenges “The company has shown it is on track to consolidate the gains occasioned by its listing, as it achieved N14.50 billion in revenue and N4.64 billion in profit before tax in 2014. It also grew shareholders’ fund to N52 billion from N47 billion in 2013 as a combined impact of IPO, rights issue and profit retained during the year. This is in spite of security challenges and an Ebola scare in 2014 that affected overall hospitality performance in the West Africa region.”

Nnorom

Emerhor

Stakeholders’ confidence assured As important members of the company, shareholders of Transcorp Hotels have been assured of safety of their investments including returns on investment in the face of insecurity in the country. The management assured them that with security challenge expected to be decisively tamed by the incoming government, 2015 business performance would be better. Chairman of the Board of Directors, Olorogun O’tega Emerhor, gave the assurance when he addressed the shareholders on the company’s maiden AGM. He was optimistic that the next operating year would be better. For 2014 business operations, TRANSCORP Hotels declared an asset base of N69 billion last year from N64 billion while total liability dropped to N17 billion from N21 billion in 2013. Based on the result achieved in 2014 and the positive business prospects for the current financial year, a dividend of 37 kobo per share was declared. The chairman said that shareholders appreciated the performance of the company in the face of prevailing security challenges.

Shareholders of Transcorp Hotels have been assured of safety of their investments

“I don’t think they complained. They are very excited actually because not many companies could pay their shareholders the dividends we paid today. I think 37 kobo for a company that was listed only five months ago is not a bad pay out. “I’m quite excited, but we are challenged to do more, though the year was bedeviled by a number of factors that had been explained like Ebola and the insecurity; most hotels didn’t do well, but we did quite well. With stability and things going right and with the conclusion of elections, the confidence is very high and we believe we are going to do a lot better this year,” said O’tega Emerhor. The Group President/Chief Executive Officer, Emmanuel N. Nnorom, explained that “after achieving all the mid-term financial goals set at the initial public offering in late September of 2014, Transcorp Hotels has set new targets for 2015 and beyond. “Based on the leaps in profitability in the last few years, I have every confidence that as a group we will also meet our goals and in so doing, continue in our path of excellence and success.

Preferred choice Notwithstanding insurgents’ threat to businesses in Abuja, management of Transcorp Hilton said that the prestigious hotels remained the preferred choice of event hosting, meetings and relaxation. Speaking with New Telegraph last week, Manager, Public Affairs, Shola Adeyemo, said that Transcorp Hilton Abuja towers above the rest, delivering on all fronts. Shola said: “For meetings and events that result in a lasting impression, the Transcorp Hilton Abuja has a special allure with its enviable selection of meeting and event facilities. From small meetings to international conventions, the hotel offers a choice of 24 multi-purpose built meeting rooms (all with natural daylight, air conditioning and Wi-Fi internet access) and the 1200 capacity Congress Centre.” He said that the hotel has won several awards as mark of its quality service delivery while plans are on to expand to Lagos and other states. Conclusion Going by raging military onslaught targeting the camps and base of the insurgents, experts have renewed confidence that Abuja and its environs are on the verge of experiencing peaceful atmosphere needed for businesses to flourish. The promise by the president-elect to create the needed enabling environment has buoyed confidence that hotels and amusements parks in Abuja, which are currently on their down moments, will rise again.

CFAN, NCIS reject relocation to Ministry of Labour Abdulwahab Isa Abuja

he National Cooperative Financing Agency of Nigeria (CFAN) and the National Cooperative Insurance Society of Nigeria (NCIS) have rejected plans by the Federal Government

to move cooperative functions to the Federal Ministry of Labour and Productivity. The two agencies are currently supervised by the Federal Ministry of Agriculture and Rural Development. Instead, the bodies are advocating for “upgrading of the Federal Department

of Cooperatives to either a full-fledged ministry as it is in Kenya, or a commission like the Corporate Affairs Commission (CAC), with good budgetary allocation to enable it deliver on its mandate since virtually every government developmental efforts are targeted towards the use of the co-operative

enterprise for service delivery to the common man, especially in the rural areas.” The two apex cooperative organisations made their positions known during a courtesy visit to the Abuja office of the new Permanent Secretary of the Federal Ministry of Agriculture and Rural Development, Sunny Echono.

Business | The Investor

Chris Ugwu

he meltdown that the Nigerian capital market witnessed following the global financial crisis and other peculiar local factors resulted in investors experiencing heavy losses. This consequently affected investors’ confidence adversely, leading to apathy and lull in activities at the stock exchange. The ripple effect of this on the economy is that on the one hand, the culture of savings and investment among the populace is in dire stress and on the other, the productive sector is being starved of long-term investible funds usually garnered through the intermediation processes provided by the capital market. However, Collective Investment Scheme (CIS) provide the means to bridge the current apathy in savings and investment by the citizens and the need for funds by government and industries. What is CIS? The Investments and Securities Act (ISA) No. 29 of 2007 (Section 153) defines Collective Investment Scheme as “a scheme in whatever form, including an open-ended investment company, in pursuance of which members of the public are invited or permitted to invest money or other assets in a portfolio and in terms of which two or more investors contribute money or other assets to and hold a participatory interest. The investors share the risk and benefit of investment in proportion to their participatory interest in a portfolio of a scheme or on any other basis determined in the deed, but not a collective investment scheme authorised by any other Act.” The apex market regulator, which noted CIS as a tool for investment and utilised globally to foster economic growth and development, said that rather than individual investors approaching the equities market with little or no knowledge of how the market operates, investors can cash in on the robust advantage provided by CIS to ensure returns on their investment. The Securities and Exchange Commission (SEC), in its efforts to ginger investor confidence in the local bourse, has urged the investing public to embrace Collective Investment Scheme (CIS) as an alternative to boost their investment opportunities. In 2012, SEC took steps to promote the adoption of CIS as an avenue of entry into the market by retail investors, in recognition of the greater safety and availability of professional asset management skills, which these vehicles offer. To strengthen safety and governance mechanisms, the Commission directed fund managers to transfer assets under their custody to trustees, which must be a separate entity as obtainable in the pension fund administration model. The former Director General of SEC, Ms. Arunma Oteh, said that the Commission would continue its efforts at building capacity in the various segments of the CIS function. According to her, the efforts paid off in the size of

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Need to leverage on Collective Investment Scheme

AG DG, SEC, Mounir Gwarzo

assets under management and number of registered funds. She added that the market participants must be prepared to tap from the development in the market, as the market was experiencing increased participation of institutional and retail investors. Oteh, who described investors’ patronage of CIS as germane to growing investment in the capital market, noted that the low patronage of the CIS by Nigerian investors had contributed in no small measure in the loss of investment value. The commission explained that it was disheartening that a very few people in the country had developed interest in investing in CIS which, in other climes, is being well embraced, especially by investors who have poor knowledge of the market. According to Oteh, Nigerian investors are yet to embrace the CIS. She added that it was essential that investors took advantage of the investment vehicle. “I would like to say at this point that our local and retail investors have yet to fully participate in the CIS which remains a good investment vehicle. It is important to note that in a few countries all over the world, investors are taking advantage of this investment vehicle and we believe that our retail investors should do same.” Current state of CIS in Nigeria CIS in Nigeria currently stands at $1.0 billion, Director SEC’s Zonal Offices Coordination and former Director, CIS, Mrs. Louise Eni-Umukoro, said at the 2014 SEC Journalists academy in Abuja in December. Eni-Umukoro, in her lecture entitled: “Regulation of Collective Investment Scheme,’’ noted that current value of the world’s

CEO, NSE, Oscar Onyema

The scheme encourages widespread savings and mobilisation of funds

CIS stands at about $30 trillion, while that of Nigeria is $1.0 billion, which is very low compared to the global record. She disclosed that as at 2002, there were only 14 funds, but currently there are about 55 funds in Nigeria compared to thousands in the developed world, especially the United States. The Chief Executive Officer (CEO) of Stanbic Asset Management Limited, Mrs. Olumide Oyetan, in his presentation titled: ‘’Collective Investment Schemesprospects and challenges: India and Nigeria as case studies,’’ affirmed that global assets in mutual fund increased from $4.0 trillion in 1993 to $28.9 trillion in September 2013. “Collective Investment Scheme assets worldwide increased 3.8 per cent to $32 trillion an all-time high at the end of the second quarter of 2014,’’ she said. According to Oyetan, a breakdown of the global CIS by region shows that Americas have 56 per cent market share, this is largely due to activities in the US. “Europe has 32 per cent, while Africa, Asia/Pacific share only 12 per cent in global CIS. Percentage of US mutual fund asset stands at $17.9 trillion,’’ the CEO of Stanbic Asset Management added. She encouraged investors to consider the CIS a best option for their alternative investments; affirming that awareness needs to be intensified in the industry to enable Nigerians see the advantages and benefits in the CIS. Benefits The scheme encourages widespread savings and mobilisation of funds among the populace because it offers incentives and opportunity for them to save and invest.

According to Eni-Umukoro, one of the benefits of investing in a unit trust scheme is increased diversification; it allows investors’ hedge against risk as the investment policy is usually diversified over various asset classes. Eni-Umokoro said that the CIS helps to strengthen demand for securities, deepens the market even as it also boosts the level of participation in the public issues and the vibrancy of the secondary market. “By buying and selling securities in the secondary market, CIS funds promote liquidity and encourage others to participate in the capital market, as they are assured of a reliable mechanism to recover their funds when so desire. It also promotes public participation, bringing capital market activities to the grassroots. By investing a proportion of the funds in stocks and bonds, contributors indirectly participate in the stock market. The invested funds benefit from capital appreciation and dividend earnings are distributed at the end of the year to the investors, according to the level of subscription. “In addition to the benefits from dividends, the invested funds enable the small investors who would never ordinarily have participated in the capital market to be part-owners of shares in big companies quoted on the exchange through the funds,” she said. She noted that in the most emerging and developed markets, institutional investors such as unit trust schemes represent the main source of portfolio capital flows, adding that these institutions not only have resources but could move independently and access foreign markets easily. Group Chief Executive Officer of UBA Capital, Mrs. Oluwatosin Sanni, said that the move to encourage CIS in the country was to create better enabling environment for more people to take investment decisions. “There are many people who cannot enter the market except through CIS. We need institutions that can reach the majority of Nigerians. CIS makes it possible for people with N5,000 to invest in the stock market,” she noted. It is expected that mutual funds will continue to attract numerous investors as some of them are trying to cash-in on retail investors who either do not have the investment savvy or the minimum requirements being demanded by the brokers to open an investment account for them. Conclusion There is definitely no contention that the benefits that can be derived from collective investment schemes, if properly harnessed, could be the needed catalyst to quicken the pace of development of the country. The need to act in this direction has become more germane now than at any other point in the nation’s stride towards development.

Business | Money

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Scramble

Peaceful outcome of elections fuel investors’ interest Tony Chukwunyem

he peaceful outcome of the general elections appears to have boosted Nigeria’s rating as one of the leading investment destinations on the continent as reports indicate that global sovereign wealth and trust funds are scrambling to invest in the country. Among the Funds said to be eyeing major investments in the country are the £2 billion Templeton Emerging Markets Trust and Norway’s Sovereign Wealth Fund, which is the biggest in the world. In a recent interview, Emerging Markets expert, Mark Mobius, who oversees the management of the Templeton Emerging Markets Trust, argued that following the peaceful outcome of the elections, now was the time to invest in Nigeria. He noted that the country had one of the fastest-growing economies in the world and that the incoming government could introduce much needed reforms. He said: “We continue to pursue long-term investments in Nigeria for a number of reasons. Not only is Nigeria Africa’s largest economy and a major consumer market, but the outcome of Nigeria’s presidential election in March proved its people are ready for change – hopefully for the better.

Global funds target Nigeria “We feel (President Muhammadu Buhari’s) military experience should help him battle terrorism and corruption in Nigeria, so in that sense the election results seem positive.” The Emerging Markets expert, who acknowledged that lower oil prices were a challenge for Nigeria and would mean the government needs to find new sources of income, pointed out that government debt is only 13 per cent of Gross Domestic

Product (GDP) and fiscal policy from the 2015 budget should prevent government facing funding issues this year. According to him, “while important to the economy, the oil and gas sector actually equates to less than 15 per cent of Nigeria’s total GDP. Nevertheless, the oil price decline has prompted government to reduce its 2015 GDP growth forecast to 5.5 per cent, down from an estimated 6.23 per cent in 2014, (but) GDP growth

still looks to remain strong this year. “Nigeria is a big country and with privatisation and government reform efforts, I still believe that there is a good chance of strong growth going forward, even if oil prices don’t rebound significantly from today’s levels.” He disclosed that his firm was especially interested in the financial services sector because of the large number of Nigerians that are “under-banked” compared

to other markets. “There are significant challenges ahead, but we believe the positives outweigh the negatives and think it’s a good time to invest in Nigeria, if we are patient and selective,” Mobius stated. Similarly, the Chief Executive Officer of Norges Bank Investment Management, which manages Norway’s $890 billion Fund, Yngve Slyngstad, told Bloomberg in an interview last week that the Fund was pouring a

bigger share of its cash into Africa in a bid to capture some of the fastest growth in the global economy. He was quoted as saying that “what’s new is that we have crept north -- Kenya and Nigeria -we’re looking at quite a few West African countries. In North Africa, for quite some time, we’ve been investing in Morocco and Egypt, there are also some investments coming in Tunisia.” Africa has emerged as one of the fastest growing regions globally. Despite the impact of the slump in oil prices, the International Monetary Fund (IMF) still sees growth rates for sub-Saharan Africa that are twice those for developed nations. The number of middleclass households in the region has tripled since 2010, according to the Standard Bank Group Ltd. The wealth fund is expanding into emerging and frontier markets as returns in the developed world get eroded by historic monetary easing programmes.

BRICS to name Development Bank executives L-R: Principal Consultant, Elite Atlantic Services Limited, Mr Fure Ukueku; Executive Director, The TaylorPartnership UK, Mr Mark Taylor and Head, Training and Development, EASL, Mr Moses Obodoechina, during the signing of Memorandum of Understanding between the two companies in Lagos.

Banks commence distribution of BVN cards Tony Chukwunyem

ommercial banks in the country have commenced the distribution of Bank Verification Number (BVN) cards to registered customers, an investigation by New Telegraph has revealed. Inquiries at banks’ branches in Lagos last week confirmed that they had taken delivery of some BVN cards and customers whose cards were ready had been requested to come for them. Customers whose cards were not among the batches that have so far been delivered were asked to come back this week. A few weeks ago, the Managing Director, Nigeria Interbank Settlement System Plc, (NIBSS), Mr. Ade Shonubi, had disclosed that bank customers would not be charged for the cards and that lenders would soon begin the distribution of the BVN cards. He said that the cards were already with the banks awaiting collection by customers.

The NIBSS boss said: “We are giving the BVN cards out for free. The cost is borne by the Bankers’ Committee, which considers the whole biometric project very important. They have been bearing the cost; the cost of the cards, cost of almost everything else that has to do with the BVN. “I have got my BVN card. I would encourage bank customers to talk to their banks as well. They have been printing them and sending them to the banks to distribute to the branches where you have enrolled, you would be sent an SMS. For those that have given email address, it would be sent their emails.” The BVN, which is aimed at protecting bank customers from fraudsters and further strengthening of the banking system, is an initiative of the Central Bank of Nigeria in conjunction with the Bankers’ Committee. It is designed to address the safety of customers’ funds, avoid losses through

compromise of personal identification numbers and other criminal activities in the industry. The NIBSS boss, who is responsible for the implementation of the BVN, explained that the BVN cards would be issued to customers after they had completed the ongoing BVN registration. Shonub said that a significant number of bank customers had so far obtained their BVN and expressed optimism that banks would achieve their targets on customer registration given the current level of compliance by customers. In a statement from the Bankers’ Committee, he said that as part of efforts to encourage enrolment for the BVN, the CBN had directed banks to only honour transactions over N100 million from customers with BVN from March 2015. Such transactions, according to the apex bank, include but not limited to, money transfers, loans and contin-

gencies, among others. The CBN also urged all bank customers to register for their BVN by June 2015, warning that any bank customer without a BVN would be deemed to have inadequate Know-Your-Customers by that date. The BVN is a unique identifier for each bank customer across the financial industry, making it possible to build and track customer financial history and activity. This will allow banks access to more reliable information that could inform decisions on customer loan and credit applications and other complex transactions. The initiative, which was launched on February 14, 2014, is expected to boost financial inclusion as those who have typically stayed away from mainstream banking due to low literacy levels will be able to open and access their bank accounts using their biometric information rather than traditional identification methods.

he governments of the BRICS (Brazil, Russia, India, China and South Africa) nations have agreed to name representatives to their $50 billion development bank by end-April, according to an official. India will name the bank’s first president, with Brazil, Russia, China and South Africa selecting the vice-presidents, according to the government official, who asked not to be named because he was not authorised to speak publicly about the matter. The bank is expected to start operating in early 2016, the official said. The New Development Bank will provide a financing alternative to the World Bank, where the five large emerging markets have sought more clout. Along with agreeing on the structure of the bank last July, the nations decided to establish a $100billion currency exchange reserve. BRICS nations will expand an average 5.33 per cent in 2015, even as the Brazilian and Russian economies contract, according to economists surveyed by Bloomberg. India and China are forecast to grow 7.4 per cent and seven per cent, respectively.

Business | Money

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

was quoted by Bloomberg as saying that, “There will be a lot of capital raising; First Bank is one that in the next 12 to 18 months will have to do some sort of capital raising or come up with a balance sheet strategy” that, according to him, may include, “slowing growth or removing assets.” He predicted that loan losses will increase to as much as 3 per cent in the next two years from about 1.8 per cent. Specifically, he predicted that NPLs may rise among power companies, many of which have borrowed in dollars, as well as small businesses, which are struggling to pay for imports. “There are a number of pressure points; we are concerned about foreign-currency lending,” Pirnie added.

Tony Chukwunyem

lose observers of the Nigerian banking scene may have had an increased sense of déjà vu in the last fortnight when the Central Bank of Nigeria (CBN) announced that it was considering publishing names of bank debtors as a way of checking the rising level of non-performing loans (NPLs) in the industry. The announcement certainly echoed the banking crisis of 2009, because it was during that period that the apex bank first took the drastic step of publishing the list of debtors who owed struggling lenders N100 million and above. The CBN had argued at the time that the huge NPLs accumulated by banks was a major reason why the industry almost collapsed and that by publishing the list of debtors, it would be naming and shaming delinquent borrowers, thereby compelling them to repay the loans. Although the industry is clearly in a better shape than it was six years ago, the threat by the regulator to resort to naming and shaming bank debtors coupled with the current harsh business environment that lenders are operating in, have triggered speculation in some quarters that the Nigerian banking industry could be headed for yet another bout of crisis, a development that the CBN and banks are frantically trying to avoid. Debtors to be barred from interbank forex market Significantly, in addition to publishing the list of debtors, the CBN also stated that it would prevent such loan defaulters from accessing foreign exchange through the interbank foreign exchange market. The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins, who disclosed this while briefing journalists at the end of the Bankers’ Committee meeting in Lagos, explained that the decision was aimed at preventing another banking crisis. According to her, “the CBN has managed to keep the banking industry safe and sound in collaboration with all members of the Bankers’ Committee. But some data shows that it is increasingly becoming difficult for some debtors to pay up their loans. So it was decided that going forward, one thing that we may do is to stop them from getting access to foreign exchange. Another thing that we also considered going forward is to publish the names of the borrowers that refuse to pay up. This is to ensure the continuous safety and soundness of the banking industry. It is not all debtors, it is the bad and chronic debtors, those ones that have deliberately refused to pay, are the ones we are talking about.” The CBN Director further pointed out that, “Total loans in the industry are in the region of N13 trillion. Right now, we have not reached the upper limit of five per cent on NPLs, but we don’t want to get there. That was why we decided that we need to come out with this measure. It is not only the names of the bad debtors, the directors, the sub-

CBN Governor, Godwin Emefiele

FCMB, MD, Ladi Balogun

Banks scramble to fend off crisis sidiaries and every member of the board that would have their names published.” Fitch report Indeed, prior to the Bankers’ Committee meeting, rating agencies and financial analysts had harped on the increasing difficulties that Nigerian banks were facing as a result of the impact of the oil price slump and regulatory headwinds. For instance, in its report, entitled, “2015 Outlook: Nigerian Banks”, Fitch Ratings stated that the oil price shock and the resulting policy moves led it to reporting a negative sector outlook for Nigerian banks. According to the report, “Fitch’s negative view of the sector reflects the challenging and volatile operating environment due to low oil prices and its impact on business and the economy. Furthermore, combined with recent policy actions by the Central Bank of Nigeria (CBN) to devalue the naira, raise interest rates and increase Cash Reserve Requirements (CRR) we are forecasting bank profitability, asset quality and capital ratios to deteriorate in 2015.” Continuing, the firm stated, “Profitability will also be affected by slower business growth and higher loan impairment charges. Other profitability constraints remain, such as the revised rules on banking charges and higher regulatory levies enforced in 2013. We are forecasting sector NPLs to rise above the CBN’s informal cap of 5 per cent, but below 10 per cent by end-2015. This reflects high loan concentrations as well as emerging risks, particularly in

the oil and gas and power sectors. These factors add more pressure on capital than previously anticipated. We are, therefore, further revising our forecasts and expect a 300-500bps decline in regulatory total capital ratios in 2015.” Other challenges that banks could face this year, according to Fitch, include, having to raise fresh capital to comply with the CBN’s revised regulatory capital computation rules as per Basel 11 and foreign exchange directives issued by the regulator as part of efforts to stabilize the exchange rate.

Last year, many predicted the profits of banks would decline, yet we saw the opposite

S&P’s projections Similarly, Standard and Poor’s (S&P), another leading ratings firm, last week, increased its view of Nigeria’s Banking Industry Country Risk Assessment to nine from eight. The more than 40 per cent plunge in crude oil prices since June is weakening Nigeria’s economy and could lead to an increase in bad loans, the ratings company said. S&P noted that because of the CBN’s revision of the regulatory capital computation rules to make banks comply with Basel II and bolster the financial industry’s ability to withstand shocks, lenders would have to build a buffer of 1.5 to 2 percentage points above the regulator’s benchmark of 15 per cent Capital Adequacy Ratio (CAR). It thus predicted that several banks, including First Bank, the industry’s biggest lender by assets, would have to raise fresh capital. A director in S&P’s financial services team, Matthew Pirnie,

Optimistic banks But while the ratings companies may be reporting a negative outlook on the Nigerian financial sector, the banks themselves are upbeat about the future. In a recent chat with a national daily, the Chief Executive Officer of First City Monument Bank (FCMB), Mr. Ladi Balogun, was quoted as saying that, “Last year, many predicted the profits of banks would decline, yet we saw the opposite. No doubt, 2015 will be a tough year. There are strong reasons to be cautiously optimistic, while building buffers for any negative outcome. The successful presidential election has already eliminated one of the dark clouds that hung over the country. I am more confident now that we have the ability to navigate the troubled waters successfully as a nation.” He further stated, “As an industry, I believe earnings will still be up this year when compared to 2014. The first quarter of 2015 was tough for most banks mainly due to the electoral jitters. I believe we will see things picking up in subsequent quarters, especially if, as anticipated, oil prices firm up. In the short term, however, cost management and risk management will be essential for growth in profits within the financial sector. This is also where you will find most banks focusing on. In the second half of the year, and as the new government settles in, I expect revenue and earnings to begin to improve.” According to analysts, the threat to publish the list of chronic debtors is an indication that banks are ready to take proactive measures to ensure that that the industry avoids the kind of near catastrophic financial crisis that almost led to its collapse in 2009. They contend that banks have already embarked on cost cutting measures including downsizing staff, albeit in small numbers. For instance, only last week, a leading mid-tier bank reportedly sacked about 200 staff in what sources described as the first phase of a retrenchment programme which is aimed at significantly reducing costs. New Telegraph also gathered that some banks have suspended granting loans to staff as well as ensuring that their cashiers and other such employees are hired as “contract staff.”

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

NIMASA bans foreign vessel with single hull from May p.36

Maritime

Council inaugurates committee to revive port industry p.37

Govt at crossroads over wheat importation Efforts by Nigeria to become a major wheat producing country since 1959 have failed due to government’s bad policies. The country’s wheat imports from the United States have reached $1 billion yearly. Domestic wheat production has remained at 80,000 metric tons out of 3.7 million metric tons it consumes per year, BAYO AKOMOLAFE reports

igeria is a huge import market for wheat because of the high demand by importers such as Flour Mills of Nigeria (FMN), Dangote, Honeywell and BUA that use the commodity for bread, noodles, pasta and cookies. The importers depend on Hard Red Winter (HRW) and Soft Red Winter (SRW) for their production. Miffed by the high imports, the Federal Government in 2012, resolved to stop the importation of wheat by 2016 as the country spends about N635 billion annually on the commodity from the United States and Asian countries. Also, government introduced a 65 per cent levy on wheat flour imports the same year in order to boost local production. However, no tangible result has been achieved in this regard. It was learnt that this was not the first time government would intervene on wheat importation. The first major intervention to boost wheat production by the Federal Government came in 1959 when it introduced irrigation schemes in the northern part of the country. The country grows wheat in Borno, Yobe, Bauchi, Jigawa, Kano, Zamfara, Katsina, Sokoto, Kebbi and Adamawa states where commercial wheat production can be possible through the use of irrigation. Also, in 1987, the government initiated another plan called: Accelerated Wheat Production Programme (AWPP) in order to stimulate local wheat production and discourage importation. This led to a decline in importation and outright ban on wheat imports into the country. During the period, wheat production figures increased from 400,000 to 600,000 metric tons. Later, the estimated total national demand for the commodity stood at about 3.7 million metric tons per year when the government relaxed its policy.

MV Ionian Wind discharging wheat at Lagos port

The commodity was ferried by five vessels to Apapa Bulk Terminal Limited (ABTL) and Greenview Development Nigeria Limited (GDNL) of the port. According to a data obtained from the Nigerian Ports Authority (NPA), MV Musky Bluestar berthed with 28,000 metric tons to GDNL. Also, MV Desert Rhapsody came with 36,039 metric tons, MV Desert Eagle, 41,2000 metric tons; MV Desert Hope, 46,750 metric tons and MV Desert Victory, 48,790 metric tons discharge the commodity at the ABTL.

The Federal Government was forced to lift the import ban on wheat six years later in order to meet manufacturers and domestic users’ demand. After 1993, data revealed that Nigeria’s wheat production figures declined to 50,000 metric tons as local production was not economically viable. Inadequate local production It was revealed that the country’s domestic wheat production which was increased from 50,000 metric tons to 100,000 metric tons later dropped 80,000 tons or 20 per cent, despite government’s plans to achieve 68 per cent local production in 2015. Plans As part of efforts to reduce import, government planned to plant 212,000 hectares of wheat by 2014, with expected production of over one million metric tons and a projection to expand the cultivated area to 215,000 hectares by 2015, with an anticipated production of 1.2 million metric tons. But government has not met the target. Challenges The Lake Chad Research Institute, Nigeria’s science and research institute covering wheat for high quality breeder, had revealed that poor extension services, inadequate capital, weak infrastructure, insecurity and myriads of other limiting factors had restrained Nigeria’s efforts at increasing local wheat production. This year, the Lagos Ports Complex (LPC) has taken delivery of 200,779 metric tons of bulk wheat valued at N13.9 billion ($69 million) in March.

Import demand It was learnt that Nigeria’s demand for the commodity is expected to reach over 5.6 million tons this year as world wheat production is forecast at a record 719 million metric tons in 2014/15, marginally up from last month and an increase of one per cent.

Nigeria’s demand for the commodity is expected to reach over 5.6 million tons this year

Policy Nigeria’s efforts at exploiting its wheat growing potential are challenged by inconsistent agricultural policies, poor marketing channels, and weak farming organizations and motivation. In 2012, government introduced a 15-per cent levy on imported wheat grains thereby raising the total tariff from five to 20 per cent in 2013 in order to cut the importation of commodity. However, the tariff and levy have not yielded any positive result as 80 per cent of exports is still sourced from United State at the cost of $300 per metric tons. Data of imports Within the last three years,

the country imported 13,440,000 metric tons. Within three years, the country has imported N567.7billion ($3.55 billion). In 2012, the country imported 4,140,000 metric tons; 2013,4,550,000 metric tons, an increase of 9.90 per cent from the previous year; 2014, 4,750,000 metric tons was imported between January and November. US record According to the United States Department of Agriculture (USDA), exports to the country from US had been jerked up from 2.9 million to 3 million metric tons per annum. Nigeria was one of the top three global markets for U.S. wheat with exports averaging three million tons yearly. It was revealed that the US Hard Red Winter (HRW) wheat was considered a high quality product and sells at premium. Besides, Nigeria also sourced the commodity from Russia, Australia, Canada, Ukraine, Kazakhstan and others. Record by USDA revealed that the country imported between 3.8 million and four million tons of wheat per year but it was increased to 4.1 million tons in 2013. 2015 imports This year, the country’s wheat import rose to 4,750,000 metric tons, raising the commodity import by 4.40 per cent. The report explained that the country was using the Soft Red Winter (SRW) wheat for cookies production and Hard White Wheat (HWW) wheat for bread and noodles production.

Business | Maritime

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

NIMASA bans foreign vessel with single hull from May JOB OPENING There is new opportunity for Nigerian ship owners who complied with international maritime regulations Stories by Bayo Akomolafe

he apex maritime regulator, Nigerian Maritime Administration and

Safety Agency (NIMASA) has declared that all foreign registered single hull tankers would no longer be allowed to trade on Nigerian waters with effect from May 1, 2015. But it extended the phase-out date for Nigerian ship owners by five years, saying that the new date would be December 31, 2020. A double-hull tanker is a ship for the carriage of oil in bulk where the cargo spaces are protected from the environment by a double-hull, consist-

ing of double side and double bottom spaces dedicated to the carriage of ballast water. The agency said that tankers that would benefit from the extension must possess valid classification and statutory certificates, including a valid Condition Assessment Scheme (CAS) certificate issued by NIMASA. Also, stressed that they would not be permitted to engage in international trade, saying their certificate extension only covers trade

within Nigerian waters. It was learnt that replacing single-hull tankers with well designed double-hull vessels and barges would prevent a great number of spills attributed to collisions and groundings and reduce as much as two-thirds of the total volume of oil spilled by such accidents. The shift to tankers with double hulls is in line with International Maritime Organisation (IMO)’s determination to reduce pollution to the barest minimum and ensure

cleaner oceans and safety in navigation, which are part of the cardinal objectives for the establishment of the organisation. According to IMO’s MARPOL Regulation 13G, single hull vessels must cease trading by 2010 unless they pass strict Condition Assessment Scheme (CAS) and can find a flag state and port state willing to allow single hulls. IMO had set an initial deadline of 2015. Under the new arrangement, all renewal

certificates to be issued during the extension period would be for only two years and such vessels must not be more than 35 years by the end of 2015. Already, the agency had again stopped the registration of new single hull tankers. The agency, in a statement by Its Deputy Director, Pulic Affairs, Mr. Isichie Osamgbi, explained that the decision was taken in line with the provisions of IMO which allows member states who do not have the capacity to replace their existing single hull tanker fleet to extend the phase-out date of certain categories of tankers in their countries, provided the vessels do not engage in international trade. While noting that over 80 per cent of all Nigerian tankers are currently single hull, he said that it recognised the factors constraining Nigerian ship owners from replacing all existing single hull tanker fleet by 2015. Its Director General, Mr. Patrick Akpobolokemi, said that the decision to extend the initial deadline was to sustain the development of the Nigerian maritime industry and enhance the gains of the Cabotage laws and local content Act.

Shipowners see market swinging CONTINUED FROM PAGE 37

and that we are going to have opportunities going forward to have pricing increases and a tighter overall market.” Luinski said that liner shipping companies were turning to the charter markets to fulfill their needs for new, more fuelefficient and cost-effective container ships. Also the panel said at the forum that demand for newer charter vessels was picking up while ship operators were managing to control capacity through slow-steaming and alliances. It was revealed by Dr. Herman Klein, president of the German Society for Maritime Technology that outlook for better returns on capital invested in new container ships was being enhanced by low oil prices. He declared: “Lots of offshore projects are on hold, so the major shipyards of the world are hungry for new orders and this might lead to lower prices for new container vessels.”

Business | Maritime

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

REFORM Stakeholders set agenda for government on port reform Stories by Bayo Akomolafe

he Port Consultative Council (PCC), has inaugurated a 21-member steering committee in Lagos to draw an agenda for the revival of the nation’s port industry. Members of the committee were drawn from port administration, shipping, maritime

Council inaugurates committee to revive port industry law, economics, maritime training and academia. Others were picked from public service, marine engineering, maritime regulation, haulage and logistics, maritime navigation and freight forwarding. Chairman of the council, Chief Kunle Folarin, said that the committee would facilitate the “roadmap and modules’’

Don advises govt on water, rail to redistribute cargo A s part of efforts to address the perennial traffic gridlock on Apapa Port access roads, a Professor of Geography at the Olabisi Onabanjo University, Ago Iwoye, Ogun State, has stressed the need for government to encourage the use of water and railway to evacuate cargo from the seaports. He explained that the perennial gridlock in Apapa had heightened inflation in the nation’s economy. Badejo noted that the gridlock had brought additional inflation, noting that a container that took about N85,000 to lift now goes for about N180,000 due to the cost implications of having to wait for hours. He said: “There was concern for security, safety, pilferages and robberies; so if we are able to analyse social cost, there is need for drastic action to resolve the quagmire on that road. “There are options. There is need to encourage the use of water mode to redistribute the goods that were brought into the port. “There are terminals around that can be developed as acoustic measure. There are Jetties at Mile 2, Ikorodu, Epe and all these can serve as immediate measure. “Nigerian railways had stopped operating from the port and what led to that de-

cision was mysterious to me because in 1985, the railway evacuated 85 per cent of goods at the port while road accounted for 15 per cent. “Immediately they pulled out the rail system, there was no provision for other mode of transportation to accommodate the 85 per cent that was withdrawn hence, the road became jam-packed with containers. Badejo opinioned that if the rail system was no more in use and additional 85 per cent was added to a sector that could not accommodate more than 15 per cent, the nation would face consequences on the roads. The university don suggested that the best solution was to resuscitate the rail system to move goods from the port to the hinterland. He advised government to create satellite port especially around Badagry, Agbara, Mile 2 or Ikorodu. He added: “We have not done serious analytical implications of that corridor to know what it is causing socially, environmentally and its health and economic implications. “If we identify the real cost implications we will know the effect of not taking drastic measures at addressing this quagmire on the economy of the country.”

2016: Shipowners see market swinging in carriers’ favour hip charterers are opti- come into balance and create S mistic that their container more demand and thus higher ships beign leased to liner op- charter rates for their assets. erators will yield profit form next year as the container shipping market is turning around for profit. It was revealed by a panel of independent shipowners that charter rates for their vessels would increase as shipping lines turn to them to fill a gap between supply and demand that would start to open up from 2016. The panel forecast that the combination of continuing global economic growth and declining delivery of new ships next year means that vessel supply and demand would

for the port industry in the next four years. He noted that the ultimate goal of the committees’ assignment was to provide instruments that would guide and shape the roundtable of a wider regime of participants. Folarin added that members of the roundtable would design the road map that would restore the hope and aspirations of the maritime sector. He said: “The roadmap and

propriate than now to address this situation and work toward the re-engineering of the entire sector to be competitive and productive. “The committee will also provide a strategic alliance with other sectors of the economy.” The chairman stressed that the calibre of committee members were people who possessed cognate experience to rescue and refocus the sector.

Containers stacked at the Lagos Port terminal for clearance.

Firm demands NIMASA’s income, expenditure accounts

n line with the Freedom of Information (FoI) Act, the management of Ships and Ports Communication Company (SPCC) has requested the Nigerian Maritime Administration and Safety Agency (NIMASA) to release the details of the revenue collected from Nigeria Liquefied Natural Gas (NLNG) and the amount paid on maritime security contract. In a letter to the Director-

A senior analyst at Global Hunter Securities, Mr. Charles Lupinski, who spoke at the 9th Annual Capital Link International Shipping & Offshore Forum in New York last week explained that ship owners would see a re-acceleration of trade over the next two years. He added: Given the fact that the order book now is at 18 per cent of the global fleet compared to 50 per cent in 2009, we believe that demand is going to outstrip growth CONTINUED ON PAGE 36

modules would serve as the pillars for the policies, legal framework and economic targets that would propel the maritime sector and the port industry. “We are all aware of the challenges we have faced in the maritime sector in the last two decades, the decline and the decay of both operational modes and infrastructure in the port industry. “There is no time more ap-

Akinola

General of the agency, Mr. Patrick Akpobolokemi, signed by the Administration Officer of the company, Ms Folasade Adedokun, the management of the company also asked for a detailed breakdown of the agency’s public relations unit expenditure between 2011 and 2015. The letter reads in part: “We request you to furnish us with the total amount collected from NLNG by NIMASA from July 2013 to date. You may recall that NLNG agreed to pay $140 million to NIMASA on an ‘under protest’ basis on 12th July, 2013 and also agrred to pay the agency levies as they become due until a judicial ruling on whether these payments are justified or not. “Amount paid to private firms, especially Global West Vessel Specialists Nigeria Limited, from the amount collected from NLNG so far.” Also, the company asked for the amount paid Global West Vessel Specialists Nigeria Limited under the maritime security contract

it signed with the company from 2011 to date. It demanded that the spending of the agency’s public relations unit from 2011 to March, 2015, be released to the firm. “We also request for detailed breakdown of your public relations unit expenditure for the period stated above including names of companies that executed the projects and the amount paid to them,” Adedokun said. Explaining reasons behind the request, a maritime expert and Chief Executive Officer of the company, Mr. Bolaji Akinola, said that by virtue of the FoI Act, corporate organisation and individual had the right to request for information in the public institutions. He said that if the agency failed to provide the information within seven days, the company’s lawyer would institute a legal action against it. He noted: “The agency is a public organisation and they are accountable to the public.

WEDNESday, APRIL 22, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

General Muhammadu Buhari (right) and Bauchi State Governor-elect, Mohammed Abubakar, during the Bauchi State’s delegates’ visit to Buhari in Kaduna.

Alake of Egbaland and Chairman, Egba Traditional Council, Oba Adedotun Aremu Gbadebo (middle); flanked by Ogun State Governor, Ibikunle Amosun (seventh right); Osile, Oke-Ona Egba, Oba Adedapo Tejuoso (sixth right); Agura of Gbagura, Oba Halidu Laloko (sixth left); Olowu of Owu, Oba Adegboyega Dosumu (fifth right) and other traditional leaders, during Egba Traditional Council’s congratulatory visit to Amosun in Abeokuta.

Photo | News 39

L-R: National Commissioner, INEC, Kwara, Niger, Kaduna and FCT, Dr. Chris Iyimoga; Governor Abdulfatah Ahmed and Kwara State Resident Electoral Commissioner, Dr. Emanuel Omucheyo, during the presentation of Certificate of Return to Governor Ahmed in Ilorin

Chief of Defence Staff, Air Chief Marshal Alex Badeh (left) and Minister of State for Defence, Col. Austine Akobundu (rtd.), at the maiden official visit of the minister to Defence Headquarters in Abuja.

L-R: Managing Director, Alpha First Travel & Tourism Academy, Mr. Soji Amusan; President/CEO, Sabre Travel Network Nigeria, Mr. Gbenga Olowo; Managing Director, Interguide Air Services, Mrs. Stella Olowo; Prof. Ekundayo Alao, CEO, Babcock Centre for Executive Development, Babcock University; Country Manager, British Airways, Mr. Kola Olayinka and former Managing Director, Nigeria Airways, Mr. Andrew Okunuga, at the Sabre Agency’s Strategy Forum in Lagos. PHOTO: TONY EGUAYE

L-R: President, FIBA Africa Zone 3, Col. Sam Ahmedu (rtd.); Executive Director, Marketing Services, Nestle Nigeria Plc, Mrs. Iquo Ukoh; Managing Director/Chief Executive, Nestle Nigeria Plc, Chief Dharnesh Ghordon; Category Manager, Beverages Nestle Nigeria Plc, Mr. Olufemi Akintola; National Secretary, Nigeria Schools Sport Federation, Mrs. Olabisi Joseph; Executive Secretary, National Collegiate Sports Foundation, Mr. Lanre Balogun and Corporate Communications and Public Affairs Manager, Nestle Nigeria Plc, Dr. Samuel Adenekan, at a press conference for the 17th Milo Basketball Championship, at Nestle’s Corporate head Office, Ilupeju, Lagos. PHOTO: TONY EGUAYE

L-R: Abeokuta District Superintendent of the Assemblies of God (AG) Church Nigeria, Rev. Benson Awodeyi; Treasurer, Rev. Okorie Emenike; Rev. Macaulay Umunnakwe; Group Leader, Magboro Group, Pastor Michael Musa and his wife, Osinachi, at the inauguration ceremony of the church in Magboro, Ogun State. PHOTO: TONY EGUAYE

L-R: Permanent Secretary, Ministry of Agriculture and Cooperatives, Mr. Yakub Basorun; Commissioner for Agriculture and Cooperatives, Prince Gbolahan Lawal and Special Adviser to the Governor on Information and Strategy, Mr. Lateef Raji, at the 2015 ministerial press briefing in commemoration of eight years in office of Governor Babatunde Fashola, in Lagos.

40 Politics Prince Bola Ajibola, a former Attorney General of the Federation and Minister of Justice, and onetime Judge of the International Court of Justice, recommends the observance of Thanksgiving Day in Nigeria

WEDNESDAY, April 22, 2015 NEW TELEGRAPH

Buhari must establish Nigeria’s Thanksgiving Day – Ajibola

he Thanksgiving has been known to be a reverently celebrated holiday in the United States of America. The U.S. is a country whose rich republican union should serve as a great example of unity in diversity to our country, Nigeria. Native Americans whom the first Europeans greeted were quite a diverse people like us in Nigeria and according to historical records, must have spoken between 300 and 350 distinct languages, with their societies and ways of life varying in like numbers. Intense struggles to overcome forces within and without have also been a somewhat permanent feature of the U.S. as a country. Of immediate relevance in America’s war and march towards independence was the Boston riot, in Massachusetts, on March 5, 1770. This upheaval was one of the most important events that led to the great resentment of British colonialism and the resultant American Revolution five years later. The 13 colonies which made up the original 13 states of the US met on July 2, 1776, with 56 delegates to the Continental Congress, to ratify a document that had been prepared by Thomas Jefferson, severing all elements of obeisance to Great Britain. On July 4, 1776 the famous Declaration of Independence was made. America struggled to get it right and today, that country is a conglomeration of the human race: native Indians, Europeans, Africans, Hispanics and all manners of races which find succour in the freedom and prosperity availed by that society. What is the drift of my discourse here? Nigeria as a nation shares many striking similarities with the United States. With a population of over 170 million, more than 250 ethnic groups and 300 languages, our country is as diverse as it can be. Many of these groups had existed as independent nationalities prior to 1914. Many are quick to point out that the amalgamation of Northern and Southern Nigeria on January 1, 1914 was purely done for political

Ajibola

expediency and administrative convenience and therefore a colossal mistake. The truth is that a mistake of amalgamation that has endured 100 years, 54 of which has been spent as an independent nation, deserves some other, and better appellation. We as a nation have been through a tragic civil war, which happened barely seven years into independence. Forty-five years after the end of the civil war, we have managed to trudge on albeit with many ups and downs. We have had to endure a spate of military governments, ranging from the benign to the horrendous, and we survived. We have also experienced a number of civilian administrations, ranging from one that was inept to one that held promise and hope, and to the out rightly clueless. In all, Nigerians as a people have suffered and endured the horror of bad governance. But since the advent of the Fourth Republic which began in 1999, nothing has put the country more on the precipice and close to total annihilation than the 2015 elections. The fears were not without reasons. Apostles of doom had prophesised the demise of the Nigerian nation by 2015. Supposedly the year should be Nigeria’s own apocalypse and events as they un-

We have managed to trudge on albeit with many ups and downs. We have had to endure a spate of military governments

folded brought that awful moment nearer. Many relocated within the country and many ventured out altogether. Seeing the vast number of people that were struggling to leave the country through the international airport on the eve of the elections, someone joked wryly about who remains to cast the ballot after everyone has fled. The fear that pervaded the atmosphere was palpable. Trepidation and uncertainty hung in the air and the atmosphere was tense. The elections have now been held and although it was not totally devoid of infringements, the good outcomes have surpassed our collective expectations. The most credible international preelection polls had predicted that the presidential election would be too close to call. That had compounded our fears for the worst. Even with the gentleman’s agreement entered into by incumbent President Goodluck Jonathan and his strongest opponent and now President-elect, General Muhammmadu Buhari, fears were not allayed. What with open threats by ethnic militias, political jobbers and hangers-on? We must however commend the initiators of the peace accords, the first which was signed on January 14 and the second signed on March 26, 2015. Although the masses were de-

termined to express their opinion through the ballot, they nonetheless resorted to fervent prayers for the country. That was the majority who had nowhere to flee. The manifestation of the acceptance of that prayer was the concession of victory to General Buhari by President Jonathan, in a most gracious and statesmanly manner. That singular acts diffused all tensions and put the hawks at bay. But for that concession, the conflagration that would have enveloped the country as a whole would have been unprecedented; and given that the country, her psyche and social fabric could not now withstand such type of stressful horrors of the pre-civil war years, it could have sounded the death knell for our beloved country as predicted. We must thank God now that it did not go that way, and we must continue to thank God that it saved us the precipice; hence the idea of having our own National Thanksgiving Day. For the Christians, this is Biblical as espoused in the Psalms, chapter 118. And for the Muslims, Allah says in Qur’an chapter 14 verse 7, “…if you are grateful, I will give you more” and He warned in the same breath, “… but if you show ingratitude, truly my punishment is severe indeed.” The need to be thankful to God is further taught in two consecutive chapters (93 and 94) of the Qur’an, with the last verse of Chapter 93 enjoining believers to proclaim the bounties of their Lord. Therefore, as a nation we should pick a day for national thanksgiving that would feature a multi-faith gathering at Abuja and similar ones in all states throughout the country. It should be day of practical tutoring of the young ones in developing the spirit of gratitude to Almighty God, sportsmanship, cooperation and positive compromise. These moral values should be incorporated into the school curriculum from nursery to university as is already been done at Crescent University, Abeokuta with a compulsory course named Global Citizenship. Our young ones through sports and other competitions should imbibe and develop positive disposition towards losing gallantly and winning with grace. They should know that in every competition there must winners and losers who must embrace each other at the end with losers planning to become winners next time around.

Jonathan, senators part ways over Fourth Alteration Bill C O N T I N U E D F R O M PA G E 1 7

want to resist him by overriding his veto through two-thirds majority as required by the constitution. They may also be tempted to begin to consider the time, energy and resources that went into the Fourth Alteration project, and conclude that it’s better to override the president and save the nation the great loss.

Looking at the fact that the constitution is the foundation upon which the life of a nation revolves, patriotic citizens would prefer that any amendment to such important document should be thorough and with less defects. It is also a lesson for the lawmakers and indeed all citizens, that in law-making, legislators must learn to focus on the wellbeing of the nation and posterity; and not looking at the people in au-

thority at the moment. This is because some analysts are of the view that some of the errors were injected into the bill as a result of some of the legislators focusing on how to weaken President Jonathan and some of his lieutenants they consider to be problematic in the present administration. In the foregoing, the National Assembly has two options: one is to agree with Mr. President in all or some of the

issues he raised and then embark on expeditious correction of such errors; or it may choose to override Jonathan’s veto, in which case the document automatically becomes law, with all the defects therein. Unfortunately, the last option can only provoke the incoming administration to approach the court to set it aside. Whichever way it goes, Nigerians are watching with interest.

Politics 41

NEW TELEGRAPH WEDNESDAY, April 22, 2015

Rogers Edor Ochela, writes on the changing fortunes of the nation’s capital, Abuja, on the watch of Senator Bala Mohammed

ith the lifespan of the present Jonathan presidency gradually inching closely to its end, chroniclers of history will be anxious to start the interrogation (or is it inquisition?) of the administration in terms of whether it has impacted positively or otherwise on both the fortunes of nation and those of the citizenry. It is on this note that I have decided to remove the arrow from their quiver in this piece, in a manner of speaking, by way of unveiling the epochal achievements of the Federal Capital Territory (FCT) Minister, Senator Bala Mohammed. Paucity of funds notwithstanding, Bala achieved a lot within the permissible limits of resources available to him. In chronicling these achievements, I intend to be as dispassionate as possible to avoid critics misconstruing my intention as a backhanded attempt to curry favour from the minister. To those conversant with the antecedents of Bala, his journey to the top was not totally rosy. But through deft combination of sagacity and moral discipline, he rose through a combustible mix of obstacles, navigating his way through the labyrinth of life to attain his present position. In April 2010, when Bala took over the reins of the Federal Capital Territory Administration (FCTA) as the minister, he met a ministry that was virtually at crossroads, with the staff disillusioned by the devastating effect of maladministration, almost losing faith in the ability of any minister in making any positive change in the situation. Staff morale was at dangerously low ebb. It was under these cloudy circumstances that Bala courageously took over the driver’s seat, fastened his seat belt to withstand the bumps and shocks ahead. Analysts agree that Bala indeed stepped into office armed with a “correcting fluid” with a high preponderance of revolutionary zeal, adorning the garb of a reformer. With a strong passion for turning around the then ailing fortunes of the ministry, unchained it and with frenzy launched it on the path of workability. With honesty and transparency as handmaidens, Bala has been able to impact positively on the morale of staff and the overall fortunes of the ministry, so much so that even his worst critics readily admit that he has become the most legitimizing factor of the Jonathan administration. Not a man given to frivolities, Bala on assumption of office immediately fashioned out multi-dimensional strategies to confront the hydraheaded problems confronting the nation’s capital city and the result has been awe-inspiring. So, due to space and time constraints, I shall highlight some of the outstanding achievements of this humble man from Bauchi State, trying in the process, to capture as many of those achievements as possible.

How Bala changed FCT’s fortunes The first thing he did was to break the vicious circle of land racketeering by setting a committee headed by Senator Saidu Dansadau, a development that led to the upgrading and repositioning of land administration in the territory. Others are development of Katampe District, which is being executed through Public Private Partnership (PPP) and estimated at over N61, 194, 747, 645, with Kagini 1 District costing N52, 609, 879, 284.47, while Maitama Extension District is gulping N137, 454, 626,929.00. The minister has equally recorded tremendous achievements in the areas of agricultural development and railway modernization. In this regard, the first phase of the light rail and Abuja-Kaduna railway projects embarked upon by the administration is nearing completion and is expected to ferry 700,000 passengers daily. Another is the second phase of the Abuja Railway connecting the ever busy Nyanya – Mararaba axis valued at $750 million, whose contract was recently signed by the minister under a PPP arrangement. The list of the minister’s achievements is endless. It also includes: reconstruction and expansion of the country’s most modern 10-lane multiple carriage super highways: the Umaru Musa Yar’Adua (Airport Road) Expressway, and the Outer Northern (Murtala Muhammed) Expressway otherwise known as the Zuba/Kubwa/ City Centre highway, as well as the dualisation of the Nyanya-Abuja Expressway, all of which have attained 90 per cent completion level. Others are: Resurfacing/Reconstruction of aging Roads in Garki 1 and Wuse 1 Districts; expansion of Kuje-Gwagwalada; Gitata bypass; Karshi – Apo bypass; Sunrise – Guzape bypass; Gwagwalada-Dobi connection and the Bwari Township roads projects; the nearly 1000 per cent completed Gurara-Lower Usman Dam road that connects the

Mohammed

With honesty and transparency as handmaidens, Bala has been able to impact positively on the morale of staff and the overall fortunes of the ministry

FCT with Kaduna State at Jere; completion of work on Tanks 1 and 6 with 40, 000 cubic centimeters storage capacity; attraction of foreign and local investments, totalling over $20 billion. And that is not all. In a drive to make Abuja Africa’s preferred investment destination, a 37-storey World Trade Centre estimated at $1.2 billion (approximately N180 Billion) is being built at the former Bakassi Market, under a PublicPrivate-Partnership arrangement with the Churchgate Group; the Abuja Town Centre project valued at $2.7 billion is also on card with the Chikason Group to bequeath to the nation’s capital a world-class 24hour business district comparable to Manhattan in New York, Oxford Street in London, or the Champ D’Elysee in Paris; the Abuja Millennium City Project, the biggest single private investment in housing in Africa valued at $18 billion is being handled by a consortium under the incorporated name, Nigeria Centenary City Plc; a PPP initiative between FCTA and COHART Group worth $150 million to develop Abuja Film Village International (AFVI); a PPP initiative for Katampe District infrastructure with capital inflow of over N61 billion and the Land Swap Project ($4.5bn), which has the richest man and woman in Africa, Aliko Dangote and Folorunsho Alakija respectively participating. The FCT will in the next four to five years fully develop at least 10 new districts through the land swap system. The ground breaking for the pilot district of the programme was performed in February by Vice-President Namadi Sambo at Waru District. Apart from infrastructure provision through land swap intervention, work is also ongoing in additional six districts through a combination of methodologies including regular contract award system and different forms of PPP arrangements. These include Jahi, Wuye, Guzape, Maitama Extension, Kag-

ini and Katampe. Determined to promote the culture of recreation, cleanliness and ascetic beauty of the FCT, the minister through Otunba Runsewe Committee revived parks and gardens in the territory and also introduced a robust and dynamic traffic control and regulation via doubling the staff strength of the Directorate of Road Traffic Services (VIO) and provision of better equipment. The beauty of the complex network of roads in the FCT has been accentuated with the vast array of major interchanges otherwise known as overhead bridges. These interchanges ease the flow of traffic. Completion and commissioning of major interchanges at AYA, Asokoro, Banex Junction, Jahi/Mabushi Link and Gwarimpa 11 Kado/ Life Camp Junction were implemented by the Bala administration thereby significantly freeing traffic flow in the city and its environs. To curb the culture of immorality in the city, the Bala-led administration has rehabilitated over 3,000 commercial sex workers by training them in diverse trades, after which they were given N100,000 each to start various businesses of their choice. In the area of security, the FCT Administration under Bala Mohammed struck a synergy with other sister security agencies through provision of patrol vehicles for effective patrol of all nooks and crannies of the territory. Considering the critical importance of heath care system in the affairs of the people, the administration procured several ambulances and other medical equipment to boost the health sector. Bala equally succeeded greatly in enforcing Abuja’s Master plan; substantially raised the Internally Generated Revenue (IGR) profile of the FCT; facilitated the passage of FCT Internal Revenue Bill by the National Assembly; attracted foreign investors in the expansion of the $700 million Abuja Botanical Gardens and Parks; review of the concessionaire of the Eagle Square and International Conference Centre to private facility managers thereby enhancing their status, preventing revenue leakages and easing mounting security concerns. Whatever anybody might say, Bala has paid his dues. With the single-mindedness of purpose that he executed his assignment at the FCTA, he has earned a place in the hearts of Nigerians. This conclusion may go against the grain of expectations of some few individuals, but then, it requires a dispassionate heart and deep understanding of administration to appreciate all the transformation witnessed at the FCTA under Bala’s superintendence. What really distinguishes this icon from his contemporaries is his great concern for public good and admirable husbandry of scarce resources. So, as the Kauran Bauchi quits office as Minister of the FCT, he is leaving behind an enduring legacy of honour and hard work. I join millions of other Nigerians in wishing him a prosperous future endeavour. •Ochela, is a former newspaper editor.

42 Politics

WEDNESDAY, April 22, 2015 NEW TELEGRAPH

Okorocha, Ihedioha in a final battle CONTINUED FROM PAGE 13

mentary election has been scheduled to hold on April 25 and from all indications, not much would change from the outcome of the election. Okorocha and his supporters are expected to go into the run-off with high spirit and from a position of strength and advantage. Besides, supplementary polls would be holding in more of the areas considered as Okorocha’s stronghold than Ihedioha, who barely struggled to win even in some areas hitherto perceived as his stronghold. There is also the likelihood that the outstanding 144,715 votes which represent registered voters from the 256 polling units in the 23 council areas to be contested for in the supplementary poll may be reduced by at least 60 per cent, representing the actual accredited voters, going by the trend evidenced in the 2015 elections. Hence, under such circumstance, even a hundred per cent win by Ihedioha may not guarantee victory. Moreso, Okorocha particularly won more votes than Ihedioha in Owerri Senatorial District (Imo East) which is Ihedioha’s home front, by winning five out of the nine local government areas in an area that would have been expected to be Ihedioha’s major stronghold. In Orlu Zone (Imo West), Okorocha won in 10 out of the 12 council areas asserting a solid presence in his home ground. In Okigwe Zone (Imo North), Ihedioha narrowly won one council area while Okorocha won the remaining five. The forgoing indicates that out of the three geopolitical zones in Imo, Ihedioha controls none while Okorocha had posted emphatic victories across the three zones. PDP leaders failed Ihedioha The chances for Ihedioha to spring an upset in the run-off election is far too slim to inspire any hope in his followers to the extent that his supporters, those that remain, will go into the runoff largely with a sagging morale. All the more, the political structures and power blocs that Ihedioha would have leveraged upon to swing a run-off victory had all collapsed, losing such vital election in their own turf. Iwuanyanwu lost his Ikeduru council area; Nnamdi Anyaehie, the state PDP chairman, lost his Nkwerre council area; Chief Chris Okewulonu, the Director General of the Ihedioha Campaign lost his Obowo council area and Chief Chuma Nnaji, running mate to Ihedioha, lost his Njaba council area, thus leaving Ihedioha in the lurch. Also, Senator Hope Uzodinma could not secure a win for his party and Ihedioha in his Oru East council area where he polled over 55,000 votes during the presidential/National Assembly elections. Not even former Governor Achike Udenwa could save Ihedioha from defeat in his Orlu council area. And in Ideato North, Chief Tony Ezenna could not lift a finger against Okorocha’s political machine. Apparently, it would take more

Araraume

than wishes to upturn Okorocha’s lead. A large chunk of the Imo electorate perceive Okorocha as a grassroots politician and accessible while Ihedioha; either true or false, is largely considered an elitist politician and haughty. Pundits have also queried that if Ihedioha could not win majority of the council areas in his Owerri zone, how likely is he to win anything substantial, in other zones outside his home ground? The Araraume factor One of the major factors that tilted the balance irredeemably against Ihedioha in the governorship election is the indomitable political persona of Senator Ifeanyi Ararame. From 1999 till date, no serving governor or power bloc in Imo has ever taken lightly the political clout of Araraume in the political calculation of the state. After he clearly won the PDP governorship primaries in 2007, his bid for the governorship of

Our major opponent is... INEC which has become a major player and a partisan contender in the election

the state was sabotaged by his party, the PDP; which through an elite conspiracy, powered by extraneous influences then adopted a Progressive People’s Alliance (PPA) candidate in the person of Chief Ikedi Ohakim and urged PDP faithful to return Ohakim instead of their candidate, Araraume. It was a strange political precedent, and astoundingly, nobody was sanctioned for anti-party activity. Araraume bore his cross with equanimity. Instead of compensation, Araraume was forced out of the party in 2011. Before the 2014 electioneering commenced, he returned to the party and participated in the December 8, 2014 governorship primaries of the party. Under very controversial circumstances, Ihedioha was returned as the winner of the primaries with an unanswered question of over-balloting in air, which Araraume insists indicates he actually won the primaries. Instead of discussing the discrepancies that marred the emergence of Ihedioha, the party glossed over the matter; again denying Araraume a seemingly deserved chance to fly his party’s flag. For the second time, Araraume felt he has been unjustly robbed of his mandate by his party and was prepared to fight it every step of the way. It should also be noted that since 2007 till 2015, Araraume, in spite of the political misfortunes that may have come his way, did not at any point disband his campaign organisation. He places so much premium on human capacity and human resource to such extent that though without winning any major political victory, Araraume has continued to take care of their welfare and expenses from 2007 till date with the implication that an average Araraume supporter is something near to fanatical about him. And his ever-increasing support

base cuts across the 27 council areas of Imo State, wielding massive political influence wherever they show up. Hence, it did not come as a surprise that the entire Imo North known as a PDP enclave literally collapsed to APC barely 24 hours after Governor Okorocha sealed a political pact with Araraume. Okorocha’s overtures to Araraume were persistent and unrelenting for weeks until it went through and Araraume granted the governor the rare privilege to address a mammoth crowd of his loyalists at the massive Destiny Campaign Headquarters. Blame game Beside the Araraume factor, the most unfortunate development is the blame game presently going on in the Ihedioha camp with or without his knowledge. His followers are busy pointing accusing fingers at those that either failed to deliver or those that seemingly sold out. This of course, is not the attitude or the frame of mind needed by a political camp that has a dicey election staring it in the face, especially where their opponent’s camp has suddenly become more attractive and more viable than anything the PDP could presently offer, in the Nigerian political space. While he should be rallying together his supporters to close ranks, he should also be aware that several of his loyalists may presently be negotiating accommodation in the ruling APC. On all fronts, Ihedioha has a Herculean task ahead and with the odds and critical indices tilted heavily against him, only an unconventional approach to the run-off election could bring the Deputy Speaker close to a competitive distance to Okorocha. But going by the facts on ground, Governor Okorocha is merely days away from a second term in office.

Benin leadership: Group urges Okunbo to rise above political differences Temitope Ogunbanke

Benin group, Assembly of Benin Aborigines (ABA), yesterday called on a prominent businessman and politician, Captain Hosa Okunbo, to rise far above political affiliations and continue to build on his steadfast leadership in the struggle to liberate and transform Benin ethnic nationality within the context of national development. The call, which was contained in a statement signed by Prince Solomon Ebuwa, Barrister Osamwonyi Osagiede, Prince Francis Omo Osunde Iyasere, and Chief (Col.) Edward Igbinedu, came against the backdrop of the decision by Okunbo, who is a leader of the Peoples Democratic Party (PDP) in Edo South Senatorial zone, to mobilise support for the victory of the Benins who contested on the platform of the All Progressives Congress (APC) in

the April 11 State Assembly. The group, made up of Benin men and women at home and in the Diaspora, noted that Okunbo had, in the March 28 Presidential and National Assembly elections, mobilised support for his friend, President Goodluck Jonathan and candidates of the PDP in Edo South, ensuring that Jonathan and the candidates for the federal legislature won in Edo State. It observed that with the defeat of President Jonathan in the presidential election, Okunbo, whose sole objective for dabbling into politics, is not to seek election into any public office, but to promote an agenda for the liberation and transformation of the Benin ethnic nation within the larger politics of the Nigerian nation, had to respond to the changing political dynamics. According to the group, “We sincerely knew that the game was bound to change after President Jonathan lost the election

and conceded defeat to General Muhammadu Buhari,” adding “with the victory of the APC under the National Chairmanship of a Benin son, Chief John Odigie-Oyegun, in the presidential election, it would appear that providence has now thrust the Benins, through Oyegun, to the centre of national politics and prominence, which has all the while been the lofty desire of Captain Okunbo; and with an APC government in place in Edo State, the synergy becomes easy and complete.” The group added: “For us, we believe that there was no need to continue to fight a political battle of attrition that would fracture the real essence of Okunbo’s politics of standing in the gap in Abuja for, and seeking to empower the Benins. “We have all along been aware that Captain Okunbo had watched with total disbelief how political gladiators from the other two zones in the state had cornered and shared

political appointments to the exclusion of Edo South. “This is why, as he had explained to those who cared to listen, he decided to expose himself as a businessman to the vagaries of politics so as to be able to stand in the gap, politicallyspeaking, for the Benins.” The group declared that “his (Okunbo’s) deliberative and well-considered action of supporting Odigie-Oyegun and the state government to win all the State House of Assembly seats for the Benins on the APC platform aligns with his objective to give the Benin ethnic nation a cosmopolitan outlook in national politics. “Therefore, his role in the April 11 State House of Assembly election does not detract from the fact of his being a true and loyal friend of President Jonathan, neither does it diminish his position as a true leader of the Benins, who is understandably torn between love for his people and party politics.”

Politics 43

NEW TELEGRAPH WEDNESDAY, April 22, 2015

CONTINUED FROM PAGE 15

and intelligence. He said: “Anybody can aspire for an office but not everybody is qualified. This is Ambode’s first term and he needs a supportive legislature. The party is aware of the presence of opposition lawmakers in the House and they would come out with the best choice but for now everybody is just laying claim to speakership without the needed backing from our leaders.” Funmi Tejuosho She re presents Mushin I state constituency and the only female lawmaker in the race to succeed Speaker Ikuforiji. She is a strong contender for the seat after losing out in 2011. This brilliant, articulate lawyer is a fourth term legislator in the House and she had once served as deputy speaker of the Assembly before she was impeached but had the impeachment reversed. Among the APC leadership, she is quite popular and connected but it is in doubt if her relationship with other 19 returning legislators is cordial. She currently chairs the Finance Committee of the House. When all chips are down, Tejuosho, who recently marked her 50thbirthday, can compete favourably with anyone. But a source said the leadership of the party is not disposed to her candidature. Rotimi Abiru The Deputy Chief Whip of the Assembly who represents Somolu II is the only principal officer that returned to the Lagos chamber for the Eighth Assembly. In the business of legislative duties, Abiru knows his onion and he has displayed that severally on the floor of the House. He seems to have the support of his colleagues to lead them owing to his calmness, intelligence and display of maturity in matters of the House. He is one of the uniting elements in the outgoing Seventh Assembly. If zoning comes into play, he may not be favoured for the seat; he is from Lagos East where the incoming governor, Ambode, is from. Wasiu Eshinlokun-Sanni He had a torrid time returning to the House he left about 12 years ago, in fact, it took the ruling of a Lagos High Court to have his name restored as APC candidate in Lagos Island I constituency after his name was substituted with that of Akeem Masha on the Independent National Elec-

Tinubu’s associates battle for Lagos speakership toral Commission (INEC) list, despite winning the party’s primaries. Eshinlokun-Sanni, who holds a Master’s Degree from the University of Lagos, was the immediate past state Secretary of the APC and also a former chairman of Lagos Island Local Government. Already, he is being tipped as anointed candidate of the House by Tinubu. Also, if the zoning arrangement would be adopted, the former council boss stands in good stead to capture the

seat as he is from Lagos Central. However, the thinking in some quarters against his choice is that he is out of tune with current legislative practice as he was a member of the House in the 4th Assembly. In the same vein, some party leaders believe that his loyalty and commitment to Tinubu would guarantee a level-headed Assembly for Ambode. Moshood Olanrewaju Osun He has a rich legisla-

tive experience and he is also a very strong contender for the plum seat. He is also from the Lagos Central and a great team player His elder brother, Wale Osun, was the Chief Whip of the House of Representatives in the aborted Third Republic. Mudasiru Obasa He is the chairman of the Assembly Committee on Budget and Economic Planning and has been in the House since 2003. He is one of the members

that have not hidden his intention to lead the Eighth Assembly. Though he is from the West, he believes that the party would go for the best candidate and jettison the idea of zoning as currently played out. It is, however, in doubt if he has the support of his returning colleagues. Gbolahan Yisawu Still savouring his victory against Babajide Obanikoro, the young, articulate and brilliant lawmaker is coming

into the chamber for a second successive term with measures of confidence. He is from Lagos Central and that also counts for him but it is in doubt if the leadership of the party may want to commit such a sensitive seat to a young element like him. But give it to Yisawu, he stands shoulder tall among his colleagues. His comportment and carriage within and outside the chamber depicts him as a team player.

Business | Money Line

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Africa to record weakest growth in 20 years –Expert

Stalled

Oil price slump, China slowdown hurting growth Tony Chukwunyem

frica’s economic growth is sharply stalling and could weaken to its slowest pace in more than 20 years, a financial expert, Maarten Ackerman, has warned. Indeed, according to him, some countries might even slip into recession.

Ackerman, an Advisory Partner and Senior Investment Strategist at financial firm, Citadel, stated this at a forum in South Africa recently according to media reports in the country. He noted that African’s impressive economic growth rates in recent years had begun to abate in the aftermath of the oil price slump coupled with the slow-

down in China. “Most countries with a dependence on the mining industry will struggle over the next few years and the recent sharp decline in the oil price means that growth for oil-exporting countries will certainly suffer,” said Ackerman. He predicted that Africa’s two biggest economies, Nigeria and South Africa, would struggle.

“Given the decline in the oil price, Nigeria will be forced to tighten monetary and fiscal policy, reducing growth potential going forward,” said Ackerman. “South Africa’s growth prospects remain bleak given significant structural challenges - largely labour inflexibility and electricity supply – which are preventing the coun-

African leaders urged to focus on tax policies

frican leaders have been urged to focus more on tax policies and the diversification of tax resources in order to foster growth. South Africa’s Finance Minister Nhlanhla Nene, gave this charge while speaking at an African Tax Administration Forum conference yesterday. He said the global focus on international taxation offered a unique opportunity for African leaders to consider factors such as giving consideration to the establishment of a tax policy and tax administra-

tion commission. This commission, which he said was glaringly missing from the African Union, would deal with harmonising the continent’s tax policy, legislation and administration, as well as seeking ways to improve cross-border cooperation and thereby optimising continental revenue mobilisation. Some multinational corporations use tax-reducing financial strategies to shift profits across borders to take advantage of favourable tax rates, much to the disadvantage of countries from which

the monies are being shifted. Mr Nene said multinationals were able to take advantage of outdated international tax laws to minimise their tax liability, adding that there was still room to increase tax revenues in Africa to help further develop the economies of countries on the continent. The African Economic Outlook’s data showed that low-income African countries on average mobilised only around 16.8 per cent of their Gross Domestic Product (GDP) in tax revenues in 2012,

which was below the minimum level of 20 per cent considered by the United Nations as necessary to have achieved the Millennium Development Goals. Upper-middle-income countries came closer to the average in OECD countries of 35 per cent with an average tax burden of 34.4 per cent in 2012. Mobilising domestic resources would allow countries to reduce dependence on aid and take charge of their own development and growth agenda, Mr. Nene said.

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$29,500,232,152

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 20/4/2015 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

tanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc and Access Bank have collaborated with Coscharis Motors Ltd, to establish an auto finance scheme for customers. Under the initiative known as the Coscharis Vehicle Finance Scheme, Stanbic IBTC Bank and Access Bank will provide credit facilities for the acquisition of cars by Coscharis customers on concessionary terms, including a competitive interest rate, flexible repayment period, simple documentation, quick and fast approvals and 90 percent finance on the value of the vehicle. At the Memorandum of Understanding (MOU) signing ceremony in Lagos recently, the Executive Director, Personal and Business Banking, Stanbic IBTC Bank, Obinnia Abajue, said the partnership demonstrates the organization’s commitment to economic empowerment through strategic

S 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

Stanbic IBTC, Access Bank, partner Coscharis on auto finance interventions that enable individuals and businesses achieve their goals. “This partnership is unique in being the first time two financial institutions will be partnering with a leading automobile company, Coscharis Motors, to empower people by making the acquisition of new vehicles of choice stress-free. A dedicated team of experienced professionals from our Vehicle and Asset Finance unit is available round the clock to deliver to Coscharis Motors and its customers’ excellent service and professional advice, in line with the terms of the partnership,” said Abajue. With Nigeria’s positive economic outlook and further growth of the middle class, Abajue stated that Stanbic IBTC Bank will continue to strengthen its position as the preferred destination for vehicle and asset acquisition financing, including the leasing of assets.

Skye Bank boosts SMEs

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

try from growing at its full potential.” On the back of these challenges investors should moderate their growth expectations for Africa over the next few years, he cautioned. While he remained

concerned from a macro-economic perspective, he pointed out this may well present investors with the opportunity to find investment value. According to him, “As always, investing in these ‘frontier markets’ carries unique risks. Any allocation of capital needs to be carefully researched and considered and should form part of a more diversified portfolio and overarching strategy.”

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

kye Bank has held the South East edition of its Small and Medium Enterprises (SME) seminar in Onitsha, Anambra State. In a statement, the bank said that over 200 customers and business partners in the Micro, Small and Medium Enterprise (MSME) sector attended the programme themed, “Nurturing Businesses for Growth.” It described the seminar as part of its contributions towards developing the MSME sector of the Nigerian economy. While delivering his remark, the bank’s Regional Director, South East I, Dr. Charles Udogu said MSME was an important growth driver in any economy, warning key economic players in the nation’s polity not to neglect the sector. Dr. Udogu said, “Having identified the gap in the SME sector, Skye Bank organized this sem-

inar to bridge this gap through the Bank’s business seminar series.” Speaking in the same vein, Mrs. Ayo Olojede Head, Small Business Group, Skye bank disclosed that the Bank was coming up with solutions that would help to minimize the cost of doing businesses for small business owners. Olojede however warned that, “If you want to access a loan, there are some simple but fundamental requirements the bank will expect - like a business plan, cash flow projections and basic business skills to determine the viability of the business and ways of partnering with customers to deliver value.’’ Commenting on the seminar, she said it was organized to enlighten the bank’s customers on areas of managing their cash flow and other areas of business operations among other issues.

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

FMDQ Daily Quotations List

21-Apr-15

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

Bonds FGN Bonds

Price

Rating/Agency

Issuer

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

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

581.39 476.80 20.00 100.00 300.00 351.30 233.90 98.31 600.00 524.68 75.00 150.00 200.00 591.57 279.50

TOTAL OUTSTANDING VALUE

4,582.44

TOTAL MARKET CAPITALISATION

4,248.39

Rating/Agency

Issuer

Description

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

1.32 2.02 2.27 2.36 3.11 4.19 4.51 4.81 6.77 8.90 13.61 14.09 14.58 15.26 19.24

13.55 13.69 13.73 13.74 13.82 13.89 13.94 13.94 13.92 13.94 16.92 17.37 17.90 15.51 13.99

13.43 13.60 13.65 13.66 13.69 13.80 13.83 13.86 13.86 13.88 16.86 17.30 17.80 15.44 13.94

99.36 102.40 92.61 91.38 92.30 106.46 77.34 105.41 110.52 101.27 89.84 74.54 51.79 68.06 87.79

99.51 102.55 92.76 91.53 92.60 106.76 77.64 105.71 110.82 101.57 90.14 74.84 52.09 68.36 88.09

Maturity Date

TTM (Yrs)

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

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

0.09 1.08 1.63 2.00 2.21

2.63 2.27 2.00 1.99 2.85

15.25 16.09 15.62 15.69 16.57

98.58 101.17 100.47 101.43 96.60

Agency Bonds FMBN ***LCRM

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

321.99

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.36

4.44

16.06

98.70

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.44

3.23

15.66

98.86

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.72

4.46

17.81

97.51

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.72

3.48

16.84

99.07

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.00

1.00

14.70

92.12

13.75

25.73

30-Jun-17

1.26

1.00

14.72

98.89 96.60

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.70

1.79

15.56

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

2.08

1.80

15.51

97.46

‡ /Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

2.09

1.00

14.71

98.76

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.07

1.00

14.71

99.61

‡ /Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

2.07

4.78

18.49

92.85

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.26

1.00

14.73

101.33

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

*GOMBE LAGOS

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

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

15.50 14.50 14.75

15.09 80.00 25.70

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

2.70 4.59 2.66

1.00 1.00 1.00

14.77 14.94 14.77

101.47 98.53 99.94 99.80

*OSUN

14.75 OSUN 12-DEC-2019

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.78

10-Oct-20

3.21

1.00

14.83

Aa-/Agusto; ‡ /GCR

BBB-/Agusto; BBB+/GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.60

1.00

14.95

94.59

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.70

1.00

14.95

100.12

‡ /Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.55

31-Dec-20

3.36

1.44

15.28

98.04

06-Jan-14

15.00

4.56

06-Jan-21

3.39

1.00

14.85

100.31

99.26

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 439.84

Corporate Bonds ‡ /Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.33

1.00

12.28

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.38

1.00

12.85

99.66

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.47

2.63

15.28

99.44

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.44

1.00

14.62

97.94

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.51

1.34

14.93

99.10

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.44

1.00

14.75

96.50

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.46

1.88

15.49

103.85

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.72

1.00

14.64

101.96

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.89

1.00

14.67

105.09

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.89

1.00

14.67

102.00

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.42

3.00

16.85

92.77

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.99

2.29

15.99

99.59

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

17-Feb-19

2.07

6.11

19.82

97.14

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.70

2.16

15.93

100.11

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.57

2.76

16.71

94.81

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.69

1.13

15.09

105.53

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

0.10

30-Sep-24

9.44

1.00

15.24

83.66

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.44

1.00

15.24

90.18

TOTAL OUTSTANDING VALUE

161.53

TOTAL MARKET CAPITALISATION

158.16

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.81

1.00

14.79

89.72

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

14.94

86.12

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.92

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.65

5.45

105.36

106.36

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.02

4.69

100.29

101.27

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.94

5.79

102.76

103.79

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,542.04

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

158.91

43.00

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.51

4.12

101.00

103.50

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

11.36

92.00

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

11.07

9.83

89.41

92.38

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.38

6.76

95.76

97.63

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

41.56

42.00

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.13

97.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

11.66

10.95

90.75

92.90

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

8.96

96.25

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

AFREN PLC III ACCESS BANK PLC II FIRST BANK LTD

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

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

6.63 9.25 8.00

360.00 400.00 450.00

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

26.17 11.31 9.31

26.17 10.89 9.31

44.00 90.90 93.00

44.00 92.64 93.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.87

10.52

89.63

91.13

TOTAL OUTSTANDING VALUE

4,760.00

TOTAL MARKET CAPITALISATION

3,917.56

**Treasury Bills^ DTM 9 16 23 30 44 51 65 72

FIXINGS Maturity 30-Apr-15 7-May-15 14-May-15 21-May-15 4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15

Bid Discount (%) 13.05 9.63 11.95 12.28 11.86 11.71 11.66 11.57

Offer Discount (%) 12.80 9.38 11.70 12.03 11.61 11.46 11.41 11.32

Bid Yield (%) 13.09 9.67 12.04 12.41 12.03 11.90 11.90 11.84

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 20.2917 15.5697 16.7105 17.7728

Tenor

Rate (%)

OBB

20.00

O/N Tenor Call 1M

21.75

REPO

Rate (%) 21.00 22.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

198.21 201.81 202.13 202.87 204.24 205.60

198.31 201.93 202.28 203.37 205.31 207.21

Agency Bonds FMBN ***LCRM

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

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

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

321.99

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

0.09 1.08 1.63 2.00 2.21

2.63 2.27 2.00 1.99 2.85

15.25 16.09 15.62 15.69 16.57

98.58 101.17 100.47 101.43 96.60

Sub-National Bonds

Business | Financial Market News KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.36

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.44

3.23

15.66

98.86

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.72

4.46

17.81

97.51

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.72

3.48

16.84

99.07

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.00

1.00

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.26

1.00

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.70

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

2.08

1.80

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

2.09

1.00

14.50

13.73

09-Dec-18

2.07

1.00

31-Dec-20

5.70

1.00

31-Dec-20

3.36

1.44

15.28

98.04

06-Jan-21

3.39

1.00

14.85

100.31

0.33

1.00

12.28

99.26

A/Agusto

A-/Agusto

NEGATIVE ‡ /Agusto ‡ /Agusto

Equities drain as ‡ /Agusto; A+/GCR ‡ /Agusto; A-/GCR investors step up ‡ /Agusto; A-/GCR† ‡ /Agusto profit taking ‡ /Agusto; A-/GCR

*BAYELSA EDO *DELTA NIGER

Stock market down by N73bn 09-Dec-11

*EKITI

14.50 EKITI 09-DEC-2018 tors made a retreat to take Meanwhile, a turnover 12-Dec-13 14.00 NIGER III 12-DEC-2018 advantage of15.50 the bullish 14-Feb-12 *ONDO ONDO 14-FEB-2019 of 354.5 billion shares 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE rally recorded 15.50 GOMBE days 02-OCT-2019worth N3.3 billion in some 5,668 Aa-/Agusto; ‡ /GCR LAGOS 14.50 LAGOS 22-NOV-2019 22-Nov-12 ago to take profits. deals was recorded in the 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 Consequently , the All- day’s trading. 10-Oct-13 BBB-/Agusto *OSUN 14.75 OSUN II 10-OCT-2020 Stories by Chris Ugwu 27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS Share Index13.50 LAGOS 27-NOV-2020 shed 213.76 The banking services 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 31-DEC-2020 basis points15.00 orKOGI 0.62 per sector of the financial he bears yester31-Dec-13 ‡ /Agusto *EKITI 14.50 EKITI II 31-DEC-2020 cent to close15.00 at NASARAWA 34,507.85 services sector was the continued 06-Jan-14 A-/GCR day *NASARAWA 06-JAN-2021 index points as against most active during the to maintain TOTAL OUTSTANDING VALUE day (measured by turntheir stronghold TOTAL MARKET CAPITALISATION 34,721.61 recorded the preonCorporate the Nigerian stock vious day while market over volume); with 173.8 Bonds market of capitalisation ofUPDC equities N1.6 10.00 17-AUG-2015 million shares worth 17-Aug-10 ‡ /Agusto as activities *UPDC 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto shares of blue chip comdepreciated by N73 billion billion exchanged 09-Dec-10 by in*FLOURMILLS 14.00 CHELLARAMS BB/GCR further lowered 06-Jan-11 *CHELLARAMS panies or 0.62 per cent to close06-JAN-2016 vestors in 2,109 deals. 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 NAHCO Volume in the sub-secdown momentum with a lower at N11.758 trillion as 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH by loss of N73 billion. UBA against N11.831 as tor was largely driven 13.00trillion UBA 30-SEP-2017 A/GCR 30-Sep-10 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 activities in the shares of Market watchers *C bemarket sentiment closed & I LEASING MPR+7.00 DANA 09-Apr-11 Nil that market specula*DANA lieve on the red territory . 9-APR-2018Access Bank Plc and Ze*NIGER

#{r}

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

23-Jul-14

8.00

450.00

14-Aug-14

8.75

250.00

SEC amends fees on secondary market transactions he Securities NAHCO and ExDemutualisation is a process 15.25 NAHCO II 14-NOV-2020 Commission by which a member-owned Ex16.45 UBA I 30-DEC-2021 A/GCRchange UBA 182D STANBICto IA 30-SEP-2024 A/GCR(SEC) STANBIC IBTC has made an change isT.bills+1.20 converted a share13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC amendment on fees for second- holder-owned Exchange. With OUTSTANDING VALUE aryTOTAL market transactions of Fed- demutualisation, the NSE should TOTAL MARKET CAPITALISATION eral/State/Local Government be exposed to robust corporate Bonds and Debentures of Pub- governance; enhanced efficienSupranational Bond IFC 11-FEB-2018 IFC licAAA/S&P Limited Companies. cy and10.20 transparency associated 11.25 AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P obtained AfDB from In a notice with publicly quoted companies. OUTSTANDING VALUE theTOTAL apex regulator’s website, Pursuant to Section 313 of the MARKET CAPITALISATION theTOTAL commission noted that the Investments and Securities Act amendment was expanded to 2007, the proposed regulations Description Rating/Agency Issuer include money market products made by the Commission noted as well as other derivatives to be that the Securities Exchange FGN Eurobonds traded in the financial markets, shall not be considered to be a 6.75 JAN 28, 2021 BB-/Fitch; B+/S&P particularly on SEC registered demutualised entity unless it has BB-/Fitch; FGN 5.13 JUL 12, 2018 platforms. obtained a written approval of BB-/S&P SEC noted further that the ap- the Commission6.38 inJULaccordance BB-/Fitch; 12, 2023 BB-/S&P plicable rate had been changed with the regulations. TOTAL OUTSTANDING VALUE from 0.1 per cent to 0.0002 per cent On the ownership of the deTOTAL MARKET CAPITALISATION (a 5000 per cent reduction) of sec- mutualised Securities Exchange, ondary market transactions. the draft rules noted that “prior Corporate Eurobonds to the commencement of2016demuThe commission had recently 11.50 FEB 01, B/Fitch; B-/S&P AFREN PLC I developed rules on the demutualtualisation, the7.50 Securities ExMAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I isation Nigeria. process 7.25 JUL 25,a2017 B+/S&P of Exchanges in ACCESS BANK PLC change should initiate 09, 2018 B/Fitch; FIDELITY BANK SEC,B/S&P in a circular pasted on itsPLC for determining 6.88 theMAY accurate list 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANKrules PLC website, said that the draft of members of the Exchange. APR 08, 2019 B/Fitch AFREN PLC II “The process 10.25 of demutualisawere available for comments 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC tion of the Securities Exchange by B/Fitch; stakeholders, adding that all 8.75 May 21, 2019 B/S&P DIAMOND BANK PLC comments should be sent should include an exchange of 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRSTwithin BANK PLC 6.63 DEC 2020 SecuB-/Fitch; B/S&Pfrom the date AFREN III two weeks ofPLCthe membership rights in09,the 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II circular. rities Exchange for ownership A+/Agusto; A-/GCR

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

1.79

14.95

100.12

Wema Bank reports 4% growth in Q1 profits 17-Aug-15

1.00 99.66 ended12.85 December 31, 2014. ema 0.38 Bank Plc 06-Jan-16 has posted 0.47 2.63 15.28 99.44 a 3.98 The bank reported a 29-Sep-16 1.44 1.00 14.62 97.94 profit14.93 after tax99.10 of N2.37 per cent growth 25-Oct-16 1.51 1.34 billion, per cent in net earnings 30-Sep-17 2.44 for the 1.00 14.75 up 48 96.50 30-Nov-17 quarter 1.46 1.88 103.85 from 15.49 N1.59 billion durfirst ended 09-Apr-18 2015. 1.72 1.00 14.64comparable 101.96 year March ing the 09-Sep-18 1.89 1.00 14.67 105.09 According to a notice of 2013. 09-Sep-18 1.89 1.00 14.67 102.00 to22-Sep-18 the Nigerian Stock ExThe bank’s profit be3.42 3.00 16.85 92.77 18-Oct-18 the bank 1.99 report2.29 change, fore 15.99 tax grew99.59 to N3.1 17-Feb-19 2.07 19.82 during 97.14 the year ed Q1 profit after tax of6.11 billion 01-Apr-19 2.70 2.16 15.93 100.11 under review, up 59 per N522.994 million, up 3.98 14-Nov-20 5.57 2.76 16.71 94.81 per cent from6.69N502.132 cent from N1.9 105.53 billion in 30-Dec-21 1.13 15.09 30-Sep-24 during 9.44the com1.00 15.24 million December 2013.83.66 30-Sep-24 1.00 15.24 90.18 parable year of9.442014. Managing Director/ The bank’s profit be- CEO of WEMA Bank fore tax equally grew to Plc, Segun Oloketuyi, N615.288 million during said that Wema Bank had 11-Feb-18 2.81 review, 1.00 14.79 89.72 yearthe period under continued to record 01-Feb-21 4.75 1.00 14.94improvement 86.12 up 3.98 per cent from on-year in N502.132 million in 2014. its financial performance. Its interest income “The bank has imgrew to N8.928 billion as proved significantly Maturity Date Bid Yield (%) Yield (%) Bid Price Offer Price on its profitability and against N8.303 billionOffer recustomer base despite ported in 2014, represent-Prices & Yields ing an increase of seven shrinking margins and 28-Jan-21 5.65 5.45 105.36 106.36 per cent. intense competition. The 12-Jul-18 5.02 Monday 4.69 100.29 recorded 101.27is a reprogress The bank on sult of the continued exorganised 70th commem12-Jul-23 5.94 5.79 102.76 103.79 orative lecture titled, ecution of our three-year ‘Why Nations Succeed’ growth strategy – Project in Lagos where some po- LEAP. litical and economic ex“Specifically for the year, the perts called for inclusive 01-Feb-16 158.91 158.91 2014 financial 43.00 43.00 political and 6.51 economic bank101.00 recorded103.50 a growth 19-May-16 4.12 institutions to drive the 25-Jul-17 11.36 11.36 in profit 92.00 before tax 92.00 of 58.8 02-May-18 11.07 9.83 89.41from N1.9 92.38billion economic development per cent 6.76 95.76 of08-Nov-18 the country7.38 and other in 2013 to N3.09 97.63 billion in 08-Apr-19 41.56 41.56 42.00 42.00 countries in Africa. 2014 on the same capital 22-Apr-19 7.13 7.13 97.00 97.00 Wema Bank had also base, 90.75 an indication of 21-May-19 11.66 10.95 92.90 posted per cent improved efficiency and 07-Aug-20 a 48 8.96 8.96 96.25 96.25 09-Dec-20 in net 26.17 26.17 better 44.00 44.00 of regrowth earnings utilisation 24-Jun-21 11.31 10.89 90.90 92.64 during the financial year sources. 09-Dec-15

of shares in the demutualised 14-Nov-13 15.25 2.05 Securities Exchange; No single 30.50 30-Dec-14 16.45 30-Sep-14 11.93 entities/ 0.10 entity/person or related 30-Sep-14 13.25 persons should be permitted to 15.44 own, directly or indirectly more 161.53 than five per cent of the equity 158.16 and/or voting rights in the de11-Feb-13 Securities 10.20 mutualised Exchange; 12.00 10-Jul-14 The aggregate equity11.25 interests of 12.95 members of any specific stake- 24.95 holder group (example brokers 21.92 and broker/dealers) in the deOutstanding Value Issue Date Coupon (%) mutualised Securities Exchange ($mm) should not exceed 40 per cent. “Strategic investors should be 07-Oct-11 6.75 500.00 given equity interest in the de12-Jul-13 Securities 5.13 mutualised Exchange 500.00 subject to the following condi- 500.00 12-Jul-13 6.38 tions: The Strategic investor should provide evidence of tech-1,500.00 nical expertise through previous1,542.04 experience in managing other Exchanges. num- 450.00 01-Feb-11 The aggregate 11.50 ber of19-May-11 shares to be offered to the 500.00 7.50 Strategic investors shall not be 350.00 25-Jul-12 7.25 6.88of issued 300.00 more 09-May-13 than 30 per cent 08-Nov-13 6.00 and fully paid up capital of the 400.00 08-Apr-12 10.25 Securities Exchange. However, 300.00 22-Apr-14 6.25 500.00 if the21-May-14 Exchange is in dire need 200.00 8.75 of funds, it could issue 07-Aug-13 8.25 a higher 300.00 09-Dec-13 6.63 number of shares subject to ap- 360.00 9.25 400.00 proval24-Jun-14 of the Commission.

8.75 AUG 14, 2021

14.70 bic IBTC Plc92.12 led the 14.72 98.89 losers15.56with a 96.60 drop of 15.51 cent to 97.46 five per close at 14.71per share 98.76 while N27.55 14.71 99.61 Nacho Plc shed92.85 4.91 per 18.49 cent to close at101.33 N6.20 per 14.73 14.77 101.47 Feeds share. Livestock 14.94 98.53 Plc trailed with 4.74 per 14.77 99.94 cent to close at N2.41 per 14.83 99.80 94.59 share.14.95

lowed with 4.84 per cent 12-Dec-18 2.07 4.78 to14-Feb-19 close at N1.95 per share 2.26 1.00 02-Oct-19 2.70 Plc with 1.00 and RT Briscoe 1.00 a22-Nov-19 gain of 4.71 4.59 per cent to 12-Dec-19 2.66 1.00 close at 85 kobo per share. 10-Oct-20 3.21 1.00 27-Nov-20 1.00 On the flip 5.60 side, Stan-

nith Bank Plc. 14.00 10.20 Also, 15.50 other financial 27.00 15.50 services sub- 15.09 sector, 14.50 80.00 boosted by activities in 14.75 25.70 the shares of FBNH 14.75 10.78 Plc, 13.50 with a turnover 87.50 followed 15.00 5.00 of 73.3 million shares val14.50 4.55 ued at N572.5 million in 15.00 4.56 1,054 deals. 452.88 Further analysis 439.84 of the day’s trading showed that PZ 10.00Cussons Plc 2.50 and 18.75 UBA 12.00 Plc topped the day’s 14.00 table with 0.42 five gainers’ 13.00 per cent each to15.00 close 14.25 5.53 at N28.35 and N5.25 13.00 20.00 per share18.00 respectively.0.64 16.00 May and Baker 5.40 Plc fol-

A-/DataPro†; B+/GCR

4.44 16.06 98.70 WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

23-Jul-21

9.31

93.00

14-Aug-21

10.87

10.52

89.63

91.13

4,760.00

21-Apr-15

3,917.56

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 Bills^ Market professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “ASFIXINGS IS” and on an “AS AVAILABLE”Money basis and may not be accurate or up to date.(Spot We do not guarantee Foreign Exchange & Forwards) Bid for Discount (%) Offer Discount Bid Yieldneither (%) Tenor Rate (%) the accuracy, DTM timeliness, completeness,Maturity performance or fitness a particular purpose of any of(%)the Information, do we accept liability NIBORfor the results of any action taken on the basis of the Information.

9 16 23 FGN Bonds 30 44 51 Rating/Agency 65 72 79 86 93 100 107 114 128 135 142 NA 156 163 177 226 240 261 275 289 303 TOTAL OUTSTANDING VALUE 317 331 TOTAL MARKET CAPITALISATION 338 352

30-Apr-15 7-May-15 14-May-15 21-May-15 4-Jun-15 11-Jun-15 Issuer 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 NA 24-Sep-15 1-Oct-15 15-Oct-15 3-Dec-15 17-Dec-15 7-Jan-16 21-Jan-16 4-Feb-16 18-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16

13.05 9.63 11.95 12.28 11.86 11.71 Description 11.66 11.57 10.25 ^13.05 16-AUG-2016 11.39 ^15.10 27-APR-2017 10.07 9.85 27-JUL-2017 10.86 9.35 31-AUG-2017 11.79 10.70 30-MAY-2018 11.81 ^16.00 29-JUN-2019 11.92 7.00 23-OCT-2019 11.94 12.25 15.54 13-FEB-2020 12.31 ^16.39 27-JAN-2022 11.81 ^14.20 14-MAR-2024 12.17 15.00 28-NOV-2028 12.56 12.49 22-MAY-2029 12.52 8.50 20-NOV-2029 12.59 ^10.00 23-JUL-2030 12.66 12.62 ^12.1493 18-JUL-2034 12.65 12.61 12.40 12.66

7-Apr-16

12.60

Issuer and not the duration *for theRating/Agency Amortising bonds, the average life is calculated #

12.80 9.38 11.70 12.03 11.61 11.46 Issue 11.41Date 11.32 10.00 16-Aug-13 11.14 27-Apr-12 9.82 27-Jul-07 10.61 31-Aug-07 11.54 30-May-08 11.56 29-Jun-12 11.67 23-Oct-09 11.69 12.00 13-Feb-15 12.06 27-Jan-12 11.56 14-Mar-14 11.92 28-Nov-08 12.31 22-May-09 12.27 20-Nov-09 12.34 23-Jul-10 12.41 12.37 18-Jul-14 12.40 12.36 12.15 12.41 12.35

13.09 9.67 12.04 12.41 12.03 11.90 Coupon 11.90 (%) 11.84 10.48 13.05 11.70 15.10 10.33 9.85 11.19 9.35 12.21 10.70 12.26 16.00 12.44 7.00 12.49 12.86 15.54 12.99 16.39 12.47 14.20 12.93 15.00 13.62 12.49 13.64 8.50 13.84 10.00 13.99 14.02 12.1493 14.14 14.16 13.97 14.34

Bonds

Tenor O/N 1M 3M 6M Outstanding

(N'bn)

Rate (%) 20.2917 15.5697 16.7105 17.7728

Value

20.00

O/N

21.75

REPO

Tenor TTM Call (Yrs) 1M 3M1.32 6M2.02

Maturity Date

581.39 NITTY 476.80

Tenor 20.00 1M 100.00 2M 300.00 3M 351.30 6M 233.90 9M 12M 98.31

OBB

16-Aug-16 27-Apr-17

Rate (%) 27-Jul-17 12.2437 31-Aug-17 12.2773 30-May-18 12.5210 29-Jun-19 12.7391 23-Oct-19 13.6635 14.2436 13-Feb-20

600.00 27-Jan-22 524.68 14-Mar-24 75.00 NIFEX 28-Nov-28 150.00 Current Price ($/N)22-May-29 20-Nov-29 BID($/N) 200.00 199.0000 591.57 23-Jul-30 OFFER ($/N) 199.1000 279.50 18-Jul-34

Rate (%) Bid Yield 21.00 22.00 23.00 13.55 24.00 13.69

Tenor

(%)

2.27 13.73 13.65 2.36 13.74 13.66 3.11 13.82 13.69 :Benchmarks 4.19 13.89 13.80 * :Amortising Bond 4.51 13.94 13.83 µ :Convertible Bond AMCON: Asset Management Corporation of Nigeria 4.81 13.94 13.86 FGN: Federal6.77 Government of Nigeria 13.92 13.86 FMBN: Federal Mortgage Bank of13.94 Nigeria 8.90 13.88 IFC: International Finance Corporation 13.61 16.92 16.86 LCRM: Local Contractors Receivables Management 14.09 Aviation Handling 17.37 17.30 NAHCO: Nigerian Company 14.58 17.90 17.80 O/N: Overnight 15.51 15.44 UPDC: UAC 15.26 Property Development Company WAPCO:West Africa Portland Cement 19.24 13.99 Company 13.94 NOTE:

Offer ($/N)

198.21 198.31 201.81 201.93 Price 202.13 202.28 202.87 203.37 Bid Price 205.31 Offer Price 204.24 205.60 207.21 206.2899.36 213.4799.51 220.29 226.27102.55 102.40

92.61 92.76 91.38 91.53 92.30 92.60 NA :Not Applicable 106.46 106.76 ^ : Market Prices 77.64 # : Floating77.34 Rate Bond ***: Deferred coupon bonds 105.71 105.41 110.52 110.82 ‡ : Bond rating under review 101.57 101.27 †: Bond rating expired 89.84 90.14 N/A :Not Available 74.54 74.84 {r} :Issuer in receivership 51.79 52.09 68.06 68.36 NGC: Nigeria-German Company UBA: United Bank for Africa 88.09 87.79

4,582.44 4,248.39

14.34

Description

Bid ($/N)

Spot 7D 14D 1M Offer Yield 2M (%) 3M 6M 13.43 1Y 13.60

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

0.00 17.25 0.00/16.00 FGN BOND 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

0.09 1.08 1.63 2.00 2.21

2.63 2.27 2.00 1.99 2.85

15.25 16.09 15.62 15.69 16.57

98.58 101.17 100.47 101.43 96.60

Implied Yield

Implied Portfolio Price

Risk Premium is a combination of credit risk and liquidity risk premiums

**Exclusive of non-trading t.bills Agency Bonds

FMBN ***LCRM

TOTAL OUTSTANDING VALUEModified Duration Buckets TOTAL MARKET CAPITALISATION Sub-National Bonds

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 Porfolio Market Value(Bn)

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

Total Outstanding Volume(Bn)

Weighting by Outstanding Vol

Weighting by Mkt Value

INDEX

322.38 Bucket Weighting 321.99

% Exposure_ Mod_Duration

INDEX

YTD Return (%)

1,439.91

1,409.48

42.01

44.51

0.42

19.66

13.74

106.6904

1,195.35

7.8986

3<5

1,169.14

1,099.68

32.78

36.14

0.33

38.62

13.93

109.0856

1,088.47

7.4952

846.07

25.22 31-Aug-10 100.00 30-Sep-10

12.5019.35 100.00 13.00

8.500.25 2.161.00

41.72 31-Aug-15 100.00 30-Sep-15

14.94 0.36 14.31 0.44

77.8432 4.44 100.2012 3.23

1,094.09 16.06 1,132.27 15.66

8.6469 98.70 7.3051 98.86 97.51

626.00 12.50 KADUNA 31-AUG-2015 3,235.06 13.00 EBONYI 30-SEP-2015

A/Agusto

KADUNA

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.72

4.46

17.81

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.72

3.48

16.84

99.07

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

2.00

1.00

14.70

92.12

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.26

1.00

14.72

98.89

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.70

1.79

15.56

96.60

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

2.08

1.80

15.51

97.46

‡ /Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

2.09

1.00

14.71

98.76

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.07

1.00

14.71

99.61

Market

3,355.23

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Senate, Reps, ASUP pay tribute to Chukwumerije ...family says his burial is on May 22 Chukwu David, Philip Nyiam and Mojeed Alabi

he Senate and the House of Representatives yesterday adjourned plenary as a mark of respect to their late colleague, Senator Uche Chukwumerije, who died on Sunday. However, before the adjournment, the Senate observed a minute silence in honour of the deceased, who was a three-term Senator, representing Abia North Senatorial District as well as the Chairman, Senate Committee on Education in the current Assembly. The family also notified the Senate that the remains of the departed lawmaker would be interred on May 22, 2015. In a letter to the President of the Senate, Senator David Mark, the eldest son of the deceased Senator, Che Chidi Chukwumerije, he said, “with total submission to the will of God I will like to use this opportunity to inform you Distinguished Senate President and all the members of this distinguished Senate of the demise of your friend and colleague, Senator Uche

Okorocha to Ihedioha: Accept defeat SteveUzoechi OWERRI

he Imo State governor, Rochas Okorocha, has called on the Deputy Speaker of the House of Representatives and the Peoples Democratic Party (PDP) governorship candidate in the state, Chief Emeka Ihedioha, to accept defeat and congratulate him in the spirit of sportsmanship. The governor, who spoke through his Senior Special Assistant on Media, Sam Onwuemeodo said:“The best option for Ihedioha and the state chapter of the PDP is to face the reality on the ground, accept defeat and congratulate him (Okorocha), since he and the PDP have exploited and exhausted all their rigging options and still failed in the election.” According to a statement signed by Onwuemeodo, the governor lamented the desperation of the PDP governorship candidate and leaders of the party.

Chukwumerije, the Senator representing Abia North Senatorial District in the 7th National Assembly. He passed away on Sunday the 19th of April 2015 at the age of 76 after a gallant battle with lung cancer”. Chidi further informed the Senate in the letter, which was read on the floor of the Chamber that his late father would be buried on May 22, at his family compound in Ngodo-Isuochi, Abia State.

News 47

SOUTH-EAST

This will be after a night of tribute at his Abuja residence on Wednesday May 20, 2015. President of the Senate, Senator David Mark, said that Chukwumerije was a great Nigerian who would be greatly missed by the National Assembly and all Nigerians. At the House of Representatives, members also prayed for the repose of the soul of the deceased. They also observed a minute silence in his honour

– describing him as a passionate and committed legislator who gave his best for the development of his people in particular and the country in general. Speaker Aminu Waziri Tambuwal, who announced the adjournment told his colleagues that “as a matter of tradition and legislative solidarity, whatever befalls the Senate also affects the House in the spirit of oneness and unity of the Legislature as an arm of government.”

Judicial workers suspend strike in Anambra Eche Nwaobasi Nnewi

he Judicial Staff Union of Nigeria (JUSUN), Anambra State chapter, yesterday suspended their five months old strike, throwing lawyers and litigants in the state into a festive mood. The strike, which led to the closure of all courts and paralysed activities associated with fundamental human rights of citizens, was yesterday called off. Reacting to the development, the Nigeria Bar Association (NBA) Chairman in Nnewi, Patrick Ebubedike, commended the sus-

pension, saying that the problem was an ill wind that blew no one any good, but thanked God that the issue has been resolved. He, however, lamented its effect on the citizenry. Also speaking, Chukwuemeka Mellitus Eze, the secretary of the Nigeria Bar Association, Onitsha branch, commended the Anambra State Governor, Chief Willie Obiano and the Attorney-General of the state for their intervention, which led to the suspension of the strike. He also expressed gratitude to officers of JUSUN for their understanding and hope that the strike will not occur again.

Ebonyi blasts contractor over N60m collapsed tower Uchenna Inya ABAKALIKI

L-R: Ebonyi State Deputy Governor-elet, Mr. Dave Umehi; Secretary to the Government of the Federation, Senator Anyim Pius Anyim and former Ebonyi State Governor, Mr. Sam Egwu, after a closed-door meeting with President Goodluck Jonathan in Abuja …yesterday. PHOTO: TIMOTHY IKUOMENISAN

Igbeaku Orji Umuahia

t least two more local government transition committee chairmen have been sacked by Governor Theodore Orji, including Emenike Onuoha of Aba South appointed two weeks ago for apparently losing the election. The sacked Chairmen

Orji sacks more council chairmen include Dom Onwuzurigbo of Ikwuano and Emenike Onuoha of Aba South Local Government Areas. Though, no reason was given for their sack, it was widely believed that their sack was the penalty for failing to ‘play ball’ in the local government areas, which

Results cancellation boosts APGA’s chances in Abia Igbeaku Orji Umuahia

he cancellation of the election in three local government areas of Abia State by the returning officer in charge of the April 11 governorship and House of Assembly elections has given the All Progressives Grand Alliance (APGA) a big boost at clinching the governorship election in the state, the party’s National Vice-Chairman, Uchenna Okogbuo, has said. This was even as he

he Ebonyi State government yesterday blasted the contractor that handled the N60 million Centenary Tower that collapsed early last year at the Ochu-Udo Secretariat in the state capital, Abakaliki. The state Commissioner for Information and Orientation, Dr. Ifeanyi Ikeh, disclosed this to newsmen while briefing them on the outcome of the state executive council meeting. He said: “The cabinet invited the contractor that handled the collapsed centenary tower, chastised them and quarreled with them.”

called on the people to come out as they did in the last election to complete the victory for APGA in the rerun poll holding on Saturday. Addressing journalists at the Otti Campaign Office in Umuahia yesterday, Okogbuo said the attempt by the PDP to run away with convoluted victory did not work as INEC has insisted on the cancellation of the election in Obingwa, Isiala Ngwa South and Osisioma, where there were incontrovertible evidence of irregularities.

gave APGA the victory. Curiously, after replacing the Aba South chairman in the aftermath of the Presidential and National Assembly elections, the Peoples Democratic Party (PDP) still lost the local government to APGA. Immediately after the

Presidential and National Assembly elections, four local government transition committee chairmen, including that of Aba North and South and Umuahia North and South, were sacked. Interestingly, even with the sack of the chairmen,

the PDP lost out in those local government areas during the governorship and House of Assembly elections on April 11. The sack was believed to be part of the preparation of the PDP for the rerun poll slated for Saturday, April 25, in the state.

Elechi faults lawmakers on frozen accounts Charles Onyekwere and Uchenna Inya

ollowing the resolution of the Ebonyi State House of Assembly that the state and local government joint accounts be frozen because of alleged financial fraud in the local government system, the state Governor, Chief Martin Elechi, yesterday insisted that the lawmakers have no power to freeze the accounts. He went further to say

that no law gave the lawmakers the audacity to freeze the accounts of local governments, Development Centres or any other agencies of government, because such powers reside with the executive arm of government. In a statement signed by the Chief Press Secretary to the governor, Dr. Onyekachi Eni, Governor Elechi said it is only a court of law with competent jurisdiction that can order the freezing of any account of government

or persons. Elechi said the resolution of the House, being outside the range of its powers, is ultra vires and without effect. Consequently, the statement further urged local governments and development centres to ignore the resolution and carry on with their lawful businesses of service delivery to the people. The governor said though the government is yet to be formally informed of such resolution.

48 News

wednesday, april 22, 2015 NEW TELEGRAPH

south - south

NIS seeks collaboration with Navy to curb illegal migration Clement James Calabar

L-R: Commissioner for Civic Education, Rivers State Independent Electoral Commission (RSIEC), Dame Sylverline Nwachukwu; Chairman/ CEO, Prof. Augustine Ahiauzu and Commissioner for Media and Publicity, Ibiso Dakoru, at a news conference on the forthcoming Rivers Local Governments Election in Port Harcourt …yesterday. PHOTO-NAN

JIV report blames Shell's oil spill on sabotage Adeola Yusuf

he oil spills on the Shell-operated Kolo Creek Manifold in Bayelsa State, has been blamed on high-level sabotage of the facility. The report of the Joint Investigation Visit (JIV) on the oil spill, which revealed this, also noted that twenty seven barrels of crude were spilled on the facility, which affected mainly the manifold grounds and part of the surrounding vegetation in Bayelsa State.

Report of the investigation led by regulators – the National Oil Spill Detection and Response Agency; the Department of Petroleum Resources; representatives of the Bayelsa State Ministry of Environment; host communities; and SPDC officials, was made available to newsmen on yesterday. The report particularly attributed the incident which occurred on April 15, 2015, to sabotage of the facility. The manifold belongs to

the Shell Petroleum Development Company, operator of the SPDC Joint Venture. The investigation team claimed it visited the site on April 16, and found that a section of the metal protection to the manifold had been cut and components of the pressure control system removed. This exposed the isolation valves, resulting in a spill. The volume of spilled oil was estimated at 27 barrels, affecting mainly the manifold grounds and

part of the surrounding vegetation. SPDC stopped the leak soon after it occurred, deployed effective containment and began the recovery of oil. Meanwhile, a statement by Shell Spokesperson, Bamidele Olugbenga Odugbesan, stated that the fire arising from another leak on the Kolo Creek – Rumuekpe trunk line about 5kilometres from the manifold which was reported on Monday has been put out.

PDP chief calls for Mu’azu’s resignation go, muazu

Party stakeholders seek chairman's head over defeat at the polls Tony Anichebe uyo

ollowing the defeat of the Peoples Democratic Party at the just concluded general elections, some stakeholders of the party in Akwa Ibom State, have called for the resignation of the party’s national Chairman, Dr. Adamu Mu’azu. Speaking to journal-

ists in Uyo yesterday, a PDP chieftain, Mr. Titus John, said the party had lost at the centre for the first time in the last 16 years, prompting the need for the restructuring of the party structure. John said even though the party had failed, it did not mean the structure should crumble, adding that all outgoing governors were more busy trying to tidy up their handover notes than what was happening in the party. According to him, President Jonathan as the leader of the party should convene a national executive council meet-

ing of the party, where issues of the party would be critically assessed and major decisions taken in line with party’s present predicament. He said as the in-coming president hails from the north, naturally, the whole strength of the north would be for him, and so the national Chairman of the party should go to where the strength of the party was still strong which was the South-South. “Every outgoing governor is trying to tidy up their records. They are more busy with government records than what is happening in the party. It is my position that Mr.

President should convene a NEC meeting of the party, where issues of the party will be critically assessed and major decisions taken in line with our misfortune. “Now power flow is residual in the north, it would serve the north a better position to have a president than any other political office. Now that the president is from the north, naturally, the whole of the strength of the north is for the in-coming president. So it is our calculus; let the national chairman of the party come to where the strength of the party still lies, and that is the southsouth,” he said.

he Nigeria Immigration Service (NIS) has appealed to the Nigerian Navy to partner with it in order to curb illegal migration of foreigners into the country. The Cross River State Comptroller of NIS, Mrs. Funke Adeuyi, made this appeal in Calabar yesterday while welcoming participants of junior course 79 of the Department of Maritime Warfare, Armed Forces Command and Staff College Jaji,

Kaduna, who paid her a courtesy visit. She said that curbing of illegal migration along the nation’s maritime environment would involve a robust and effective surveillance system, hence the need for logistics and equipment. According to her, NIS which was saddled with the responsibilities of visa issuance and monitoring of foreigners, among other statutory duties, and was determined to deport illegal migrants who gained access into the country without valid travelling documents.

Group wants conspiracy claim against Jonathan’s bid addressed Cajetan Mmuta BENIN

he South-South Voice, a socio-political and cultural pressure group in the Niger Delta, yesterday insisted that the North and the South-West colluded to thwart the second term ambition of President Goodluck Jonathan, stating that the allegation must be addressed. They warned that the nation may face another round of crisis unless issues relating to the alleged conspiracy against the people of the South-

South are addressed in the interest of the nation. Members of the body in a letter addressed to President Jonathan, which was signed by their National coordinator, Mr. Victor Tamarapreye, and made available to newsmen in Benin, the Edo State capital noted that that President Goodluck Jonathan, was manipulated out of office through the March 28 electoral contest. They posited that it was absolutely unjust to hand over power to Gen. Muhammadu Buhari as “a beneficiary of the Hausa, Yoruba conspiracy”.

Road tax: NILODA affirms readiness on compliance Dominic Adewole ASABA

he Nigeria Lorry and Truck Drivers Association (NILODA), yesterday expressed its readiness to ensure that its members across the country comply with the laws of government in the payment of required road tax. The association urged its members across the country to pay up to avoid being victimized by government agents trusted with the responsibility of ensuring compliance. President of the association, Comrade Boniface Chiedozie, during the inauguration of the

Warri branch of the association vowed to defend the interest of any member who was not found wanting. According to him, the association was determined to protect its members from victimization and intimidation by other road users if they were not indicted. He said members who are in-charge of hauling and distribution of goods would no longer be intimidated unduly before they reach their final destination. He said, “Your services are recognized by the government and they do everything possible including making laws to protect your interest.”

Seplat commences eye care initiative for host communities Okpalaume Mary

s part of its corporate social responsibility (CSR) commitment SEPLAT Petroleum Development Company Limited, operators of

the NPDC/ Seplat joint venture, has commenced its fourth edition of the “Eye Can See” programme. The eye care programme, which is a key component of Seplat’s

CSR kicked off at Okpe Hall in Sapele Delta State and is expected to run for four weeks in host communities spread across Delta and Edo States. Speaking with journalists, the CSR Manag-

er, Seplat Development Petroleum Limited, Mrs. Esther Icha, said: “we are very concerned about the wellbeing of the people in our communities so we are extending this programme to

the communities, to ensure that the eye which is a very important part of the body is properly taken care of.’’ She revealed that seasoned opticians and ophthalmologists were

on ground to treat and perform surgical operations on patients, adding that the company hopes to carry out surgery on 350 cataract patients in this year’s eye care programme.

NEW TELEGRAPH wednesday, april 22, 2015

SEMA: 70, 000 IDPs taking refuge in Plateau Musa Pam Jos

o fewer than 70, 000 Internally Displaced Persons (IDPs) from the North-East and parts of Nasarawa and Taraba States were said to be taking refuge in Plateau State. The Director of Administration, State Emergency Management Agency (SEMA) in Plateau State, Mr. Basse Longnan, disclosed this yesterday in Jos during a workshop for humanitarian response. The workshop, which was organised by the Justice Development and Peace Commission (JDPC) of the Jos Catholic Archdiocese with support from the Christian Aid (CA), was described as timely going by recent activities of insurgents in the North-East region and cattle rustling in parts of the North-Central.

Cephas Iorhemen MAKURDI

he likely emergence of Senate Minority Leader, Senator George Akume, as the next Senate President in the eight National Assembly, has turned his residence in Makurdi into a Mecca of sort as politicians who are jostling for juicy positions thronged there on a daily basis. New Telegraph gathered that the residences of the two term Benue governor at Judges Quarters in Makurdi, Benue State and in Maitama, Abuja, have turned into centres of attraction. Our correspondent observed that the likely emergence of Akume as President of the Senate, has elicited jubilation in Benue, with political gladiators describing it as a welcome development. According to a chieftain

News 49

NORTH

Politicians storm Akume’s residence for jobs of the APC, Mr. John Kusa, “if Akume finally emerges Senate President, it will be a good omen for the people of the state and North Central, because when Iyorchia Ayu occupied that seat, he made the people of the state proud and I think Akume will not disappoint the citizens of the country in general and the state in particular.” It was gathered that the APC leadership last week approved a formula for the zoning of leadership positions in the soon-tobe inaugurated Senate, which situates the senate presidency in the North Central zone. As a result of this, senators like George Akume, Bukola Saraki,

Adamu Abdullahi and former Works Minister and erstwhile National Chairman of the Peoples Democratic Party (PDP), Barnabas Gemade, as potential contenders. While Akume and Saraki are favourably disposed to the mercies of top political eggheads in the country, the body language of the APC leadership and private sentiments expressed by many returning senators is swaying the position in favour of Akume. Akume, who is returning to the Senate for the third term, is the Minority Leader of the seventh session of the upper legislative chamber, a position he held with uncommon

maturity and comportment. He is known for facilitating the enthronement of the APC brand in the North Central zone, having painstakingly stayed the course through the gradual evolution of the party from the Action Congress, through to the Action Congress of Nigeria on to the eventual emergence of the amalgam called the APC. This was at a time when the opposition could only boast of one state, Nasarawa in the North Central zone. The APC has since swept five out of the six gubernatorial positions and many legislative seats in the zone in the recent political tsunami.

Commissioner asks NUJ to flush out quacks

Aliyu sets up 27-member transition committee

Dan Atori MINNA

he Niger State Commissioner for Information and Strategy, Mallam Danaladi Ndayebo, has advocated for stiffer entry requirements for practising journalists to rid the profession of quacks. Ndayebo, while receiving the newly elected members of the Nigeria Union of Journalists (NUJ) yesterday in his office, charged the NUJ executive to device strategies that will make the union self-sufficient. According to him, “The situation whereby some few disgruntled elements give the profession a bad name and bring the media to a state of disrepute is worrisome. “It is not right that those who have failed in other endeavours now see journalism as a place to hang on, thereby creating problems for the profession that is supposed to mirror the society. “The NUJ executive must devise strategies that will make the union self-sufficient, rather than going to government for assistance to fund its programmes.” Earlier, the new NUJ Chairman, Mallam Mohammed Mohammad, said the new executive has plans to create a veterans’ forum to play advisory roles and also plans to adhere strictly to the ethics of the union.

Saraki is seen as a product of the 2013 'New PDP' movement, which witnessed the breakaway of five former PDP governors to join the opposition. The APC is also being sensitive to the need to ensure fairness to all ethnocultural components of the country. Much as he is from the North Central zone, Saraki cannot deny his cultural affinity to Yorubaland, which has also produced the Vice-President-elect, Prof. Yemi Osinbajo. Impeccable sources, told our correspondent that top echelons in the National Assembly, including serving senators, senators-elect, governors and top party leaders, have begun to pay homage to Akume, who is reported to be highly favoured by the party leadership to clinch the Senate presidency under the zoning template of the All Progressives Congress (APC).

Dan Atori Minna

T L-R: Justice, Court of Appeal, Enugu Division, Justice Amiru Sanusi; President, Court of Appeal, Justice Zainab Adamu Bulkachuwa and former President, Court of Appeal, Justice Umaru Abdullahi, at the retreat for Chairmen of the Election Petition Tribunal in Abuja. PHOTO: TIMOTHY IKUOMENISAN

Election petition tribunal commences sitting in Benue Cephas Iorhemen Makurdi

ational and state legislative election petition tribunal sitting in Makurdi, the Benue State capital, has received six petitions from aggrieved candidates in the National Assembly election. Secretary to the tribunal, Mr. Sulaju Gusau, told journalists that two of the petitions are for the senatorial election while four are for the House of Representatives’ election. Gusau said for the senatorial election petitions, Governor Gabriel Suswam of the PDP is challenging the election of Senator Barnabas Gemade of the APC while

Comrade Daniel Onjeh, APC, is contesting the election of the Senate President, David Mark. The secretary also said that a petition was filed by Mr. Idikwu Wonnah of the APC against the election of Samson Uku of the PDP with Mr. Nelson Alapa, of the APC against the election of Mr. Ezekiel Adaji, of the PDP. Gusau further said Terhemen Hon, of the PDP (Jechira Federal Constituency) in his petition, is challenging the election of Mr. Herman Hembe, of the APC while, Mr. Robbert Tyough, is challenging the election of Mr. Benjamin Wayo, of the APC for Kwande/Ushongo federal constituency. Speaking with journalists, counsel to Governor

Gabriel Suswam, Andrew Wombo, said his client scored the highest number of votes in the March 28, Benue North East senatorial election, even as the APC candidate for Benue South senatorial district, Daniel Onjeh, told journalists that his petition was premised on electoral irregularities and malpractices. New Telegraph gathered that in the case of Benue South, INEC had already directed Daniel Onjeh and his party to inspect the electoral materials of the election in the area for which Senator Mark was declared winner. Chairman of the tribunal, Mr. M. A. Dipeolu, had granted Onjeh's application to take copies of the materials and directed

INEC to move to the tribunal with all the electoral forms and other materials used for the election. The tribunal had also ordered the Resident Electoral Commissioner (REC) in the state, Prof. Istifanus Dafwang, to fashion the petitioner, Daniel Onjeh, with certified true copies of the forms and other electoral materials for inspection. The electoral materials for inspection include forms EC8A (1), EC8B (1), EC8C (1), EC8D (1), EC25 series and EC40. Others include copies and certified true copies of all accredited voters, which were captured and recorded by card readers as well as copies of all incidence forms EC40H and EC40J as used during the election.

he Niger State governor, Dr. Mu’azu Babangida Aliyu, has constituted a 27-member transition committee to usher in a new administration on May 29, following the outcome of the just-concluded elections. According to a statement by the Chief Press Secretary to the Governor, Mr. Israel Ebije, the committee is to be chaired by the Secretary to the State Government, Hon. Saidu Ndako Idris Kpaki, while the Head of Service, Alhaji Hamidu A. Khadi and the Commissioner for Finance, Abubakar Tukur, will serve as vicechairmen one and two respectively. Ebije added that other members of the committee include the Commissioner for Land and Housing, Dr. Peter S. Sarki, Commissioner for Local Government, Yusuf Garba Tagwai, Commissioner for Justice and AttorneyGeneral, Abdullahi Bawa, Commissioner for Health, Hadiza Abdullahi, Commissioner for Agriculture, Prof. Mohammed Kuta Yahaya and Commissioner for Planning, Yahaya Dan- Sallau.

World |News

Tinubu to Kashamu: Go back to US for your drug trial

Egypt’s Morsi jailed 20 years

Wale Elegbede

ormer Governor of Lagos State, Senator Bola Tinubu, has taken a swipe at the Senator-elect for Ogun East, Prince Buruji Kashamu over the Peoples Democratic Party (PDP) chieftain’s recently advertised letter that heaped praises on the national leader of the All Progressives Congress (APC). In a statement signed yesterday by his media adviser, Sunday Dare, the former governor noted that Kashamu was knocking on the wrong door at the wrong house at the wrong time, adding that the description

of Tinubu in superlative terms and as his role model is a cynical fawning that will not work. The statement reads: “The days of false adulation are gone in Nigerian politics. Fake praise singers like Kashamu will find that their particular craft is no longer in vogue. During this election cycle, their practice has dramatically turned from the way things are to how things used to be. “This same Kashamu rained insults on former President Olusegun Obasanjo in a vicious campaign of calumny. Kashamu’s party, PDP sponsored defamatory documentaries full of

lies and innuendos against me, General Muhammadu Buhari and other leaders of APC. Please keep your peace until you make your trip to the USA as a Senator elect. Upon your return we can then have a conversation. We can then proceed with your repudiation of the PDP with a promise that you will stop corrupting and fouling the political system. “For him to liken himself to Bola Tinubu is for a small rut to call itself a mountain. For Kashamu to call Tinubu a role model is Kashamu’s admission that he does not know the meaning of the term. There are no grounds for comparison.”

Bamaiyi: How Ajudua, court clerk defrauded me of $330,000 Foluso Ogunmodede and Shola Adefuwa

rom a former army chief, General, Ishaya Bamaiyi came a shocking revelation yesterday on how he was allegedly swindled him by a lawyer and businessman, Chief Fred Ajudua in connivance with a Lagos High Court clerk. Bamaiyi, who was the nation’s Chief of Army Staff during the days of former Head of State, the late General Sanni Abacha, yesterday painted a graphic picture of how the clerk, Ms. Oluronke Idowu Rosu-

lu, was allegedly used as a conduit pipe to swindle him of his hard earned money, meant to offset fees charged by a foremost Senior Advocate of Nigeria, Chief Afe Babalola. The former army chief said this yesterday at the Ikeja division of the Lagos High Court. Specifically, Bamaiyi said Rosulu, who was attached to Justice Olubunmi Joseph Oyewole now of the Court of Appeal, allegedly aided Ajudua to defraud him of $330,000 allegedly charged him as professional fees by the foremost Senior Advocate.

The fees, according to Bamaiyi, was a part-payment charged by Babalola for the prosecution of his alleged involvement in the attempted murder of the Publisher of the Guardian, Mr. Alex Ibru. Bamaiyi, who was discharged and acquitted of the alleged attempted on Ibru, told Justice Lateef Lawal -Akapo, how he became a victim of the organized fraud. Bamaiyi explained that he met Ajudua and Alumile Adedeji a.k.a. Ade Bendel at Kirikiri maximum prison, during his remand for alleged attempted murder of Ibru and two others.

Power Minister meets GENCO, DISCO owners Johnchuks Onuanyim Abuja

o fine-tune ways of boosting electricity supply nation-wide, the Minister of Power, Professor Chinedu Nebo, has met with the owners of Generation and Distribution Companies in Abuja. According to the statement from Deputy Director (Press) Mr. Timothy Oyedeji, the development come on the heels of additional generation capacity occasioned by the recent commissioning of Na-

tional Integrated Power Projects (NIPPs) in Alaoji and Olorunsogo. He said: “This is also in view of plans for imminent commissioning of other NIPP plants, following the completion of these projects”. Oyedeji stated that the Minister described the Distribution Companies as the vital link in the service delivery chain. He expressed the strong commitment and willingness of the Government to continue to support the operations of the Generation and Distribution

Companies to actualize the plans to meet the energy needs of customers in both private and public sectors. According to him, the Minister pointed out the need for synergy among all power sector stakeholders. Addressing issues raised by the investors, Nebo said that the case was being made for Government to keep the faith with the contractual commitment of further reduction in both commercial and technical losses, which have been a big problem in the sector over the years.

Irate staff lock up NIPC premises Abdulwahab Isa and Shuaib Yusuf

fficial transactions at Abuja corporate headquarters of Nigerian Investment Promotion Council (NIPC) were brought to a halt yesterday due to staff protest that put off all official engagements for the a better part of the day. The staff, as early as 8am,

poured out in their substantial numbers, barricading NIPC’s main gate with inscriptions on placards, demanding for outright sack of the Executive Secretary, Mrs. Saratu Umar for her highhandedness and poor working condition she allegedly subjected them to. Their protest led to a traffic disruptions at the popular Aguyi Ironsi street in

highbrow area of Maitama district, as most outbound vehicles going and coming from Transcorp Hilton Hotels experienced difficulties gaining access to the hotels’ premises. Yesterday’s protest was the second in less than one year tenure of Umar, who has been having unending labour/welfare issues with staff.

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

n Egyptian court yesterday sentenced ousted president Mohamed Morsi to 20 years in prison for abuses against protesters but acquitted the Islamist leader of charges carrying a possible death penalty. Morsi was convicted of ordering the arrest and torture of demonstrators involved in clashes in 2012 when he was president, in a verdict Amnesty International denounced as a “travesty of justice”. Fourteen others were convicted of the same charges, with most also sentenced by the Cairo court to 20 years in jail. It acquitted the defendants of inciting murder in connection with the deaths of a journalist and two protesters during the December 5, 2012 clashes outside the presidential palace in Cairo. Morsi, dressed in a white prison uniform and standing in a sound proof cage, raised

Egypt’s deposed president Mohamed Morsi waves inside the defendant’s cage during an earlier court hearing at the police academy in Cairo

his fists when the verdict was announced, an AFP correspondent reported from the court room. Defence lawyers said they would appeal the convictions while rights groups voiced alarm at the ruling, the first in a series of trials Morsi is facing. “This verdict shatters

any remaining illusion of independence and impartiality in Egypt’s criminal justice system,” said Hassiba Hadj Sahraoui, deputy Middle East and North Africa director at Amnesty International. She called for a full retrial or the ex-president’s release.

Queen Elizabeth turns 89

un salutes rang out in London yesterday to mark Queen Elizabeth II’s 89th birthday, as Britain’s royals eagerly await the newest addition to the family. A 41 gun salute was fired at midday in Hyde Park, with a 62 gun salute following from the Tower of London and it could happen all over again within days to celebrate the birth of Prince William and his wife Kate’s second baby. The queen’s fifth greatgrandchild, who will be born fourth in line to the throne, is due later this month. The monarch, who has been on the throne since 1952, was spending the day at Windsor Cas-

Queen Elizabeth on her birthday

tle, west of London. Several hundred passers-by watched as horses from The King’s Troop Royal Horse Artillery galloped across Hyde Park, pulling six rare World War I era 13 pounder field guns. With

the guns’ metal gleaming in the sun, the soldiers fired blank rounds at 10 second intervals, the boom echoing off towers around the city as white smoke billowed. The ceremonial display took place next to Park Lane, home to some of London’s plushest hotels, and less than a kilometer (half a mile) from 17 Bruton Street, where Queen Elizabeth was born in 1926. The London townhouse of her mother’s parents has since been demolished and a plush Cantonese restaurant now holds that address. The standard royal salute is 21 rounds, with an extra 20 when fired from a royal park or residence.

South Africa deploys army to end anti-immigrant attacks

he South African army has been deployed to areas that remain volatile after a spate of attacks targeting immigrants, the defense minister announced yesterday. Soldiers have been sent to support police in troubled areas, Defense Minister Nosiviwe Mapisa-Nqakula said in a live broadcast. The minister made the announcement in Alexandra, a Johannesburg township where a Zimbabwean couple survived a shooting overnight. Both Zimbabweans were treated and discharged from hospital. In the same Alexandra

area, a Mozambican man was stabbed to death by four South African men over the weekend. Four South African suspects appeared in court yesterday and remain in jail, said Velekhaya Mgobhozi, the National Prosecuting Authority spokesman. Troops were also sent to Durban, the coastal city where the attacks on foreigners began, Mapisa-Nqakula said. The violence has been concentrated in areas of Johannesburg and Durban where poor immigrants and South Africans live. The violence has forced nearly 7,000 immigrants into camps

around Durban, Doctors Without Borders said in a statement. Camps have also been set up in Johannesburg. The recent spate of attacks has mainly affected immigrants from African states like Malawi, Mozambique and Zimbabwe, said the statement. The South African attacks on foreigners have angered many in other African countries. In Malawi, nearly 2,000 protesters marched to the South African High Commission, demonstrating against the wave of violence, said Billy Mayaya, a human rights activist.

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

News

International Sport

League Rendezvous Celebration: Knocks for Odunlami, Aggrey

World tourney: Lack of funds frustrates NTTF

Iheanacho resumes training at Man City

Toure set to leave Man City

Sport

Rackets & Bats

Did you know? That Christiano Ronaldo is the first player to score against every team in La Liga in a single season

At last, Keshi signs ‘slave’ contract • Big boss begs Nigerians for support • Salisu Yusuf tipped to replace Amokachi

Ajibade Olusesan and Adeolu Johnson Abuja

fter a long period of vacilating, Coach Stephen Keshi, on Tuesday, finally signed a two-year contract to continue as the Super Eagles handler. The coach had been locked in a protracted contract talks with the Nigeria Football Federation for almost a year, and the process generated ill feelings between the two parties with Keshi accusing the NFF of offering him a ‘slave’ contract. The federation which was apparently arm-twisted by ‘the powers that be’ into extending the coach’s stay, inserted stringent conditions in the new deal which the coach found

difficult to meet. But the two parties appeared to have found a common ground which culminated in the coach signing the dotted line in a brief ceremony at the NFF secretariat Tuesday afternoon. However, our correspondent learnt that some of the critical elements of the contract were still retained. The coach will still report to the Technical Committee, and he has also signed a code of conduct. The deal also stipulated that the coach would leave his position if he fails to meet several targets set for him. Keshi took over from Samson Siasia in 2011 and he led the team to a surprising Africa Nations Cup triumph in 2013 in South Africa. But the coach endured a turbulent 2014, despite leading the Super Eagles to the second round of the FIFA World Cup in Brazil; a string of poor results afterwards led to the team’s failure to qualify for the 2015 Africa Nations Cup. Although Keshi still prosecuted the AFCON qualifiers without a forCONTINUED ON PAGE 52

The Sport Team Adekunle Salami Group Sport Editor

Mayweather, Pacquiao fight faces ticket mystery

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Assistant Eagles coach Dan Amokachi celebrating with coach Stephen Keshi after 2013 AFCON triumph

Mayweather and Pacquiao

romoter Bob Arum is still unable to explain why there are no tickets on general sale for the superfight between Floyd Mayweather and Manny Pacquiao in Las Vegas on May 2. The MGM Grand holds 16,500 but only about 1,000 tickets are expected to be made available to the wider public. Contracts with the MGM Grand remain unsigned, while tickets are also not on sale for other venues across Las Vegas.

Arum cut a news conference short on Monday before questions could be asked. A representative for Arum, who handles Pacquiao only, said technical issues were to blame for the aborted teleconference, but Arum said he was unhappy with the number of journalists on the call. Another source close to Arum told BBC Sport that, contrary to reports, the ticketing problems have not been caused by Mayweather’s camp.

After the MGM takes its share of the tickets, each camp is allocated a percentage and is able to resell them to ticket brokers at higher prices. Last week, Pacquiao’s manager, Michael Koncz, accused Mayweather’s camp of attempting to “manipulate the ticketing.” It has been announced that tickets will eventually be on sale for between $1,500 (£1,000) and $7,500 (£5,040) but those prices have already tripled on the resale market.

Keshi considers Sammy Ameobi’s invitation

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Sport

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Keshi considers Sammy Ameobi’s invitation Emmanuel Tobi

uper Eagles coach, Stephen Keshi, has expressed his readiness to invite Newcastle striker, Sammy Ameobi, to play for Nigeria. Speaking in Abuja on Tuesday, the 2013 AFCON winning coach maintained that he would call him up if he was eligible. “I’ve been impressed with Sammy. If he’s willing and eligible, we’ll try to get him,”

Keshi said. Ameobi has five caps for the England U-21 side but said in August 2014 that he wanted to follow the lead of older brother Shola and declare for Nigeria, where both of his parents were born. “It wasn’t a difficult decision because I decided to follow my heart and I think it’s the right thing to do,” Ameobi said. “I saw Shola at the World Cup and for him to play at a major tournament like that is a big motivation.” He has played

twice for Nigeria U-20s. The younger Ameobi brother has played 25 times for Newcastle this season as he bids to earn an extended contract at St James’ Park. He has scored twice – against Spurs and Hull – and came on in the second half against Tottenham on Sunday. Nigeria confirmed the appointment of Keshi on Tuesday, and they will face Egypt, Tanzania and Chad in their African Nations qualification pool.

Akinwunmi tasks Falcons on At last, Keshi signs Women World Cup ‘slave’ contract Ifeanyi Ibeh

CO N TI N U ED F RO M PAGE 5 1

igeria Football Federation Vice President, Seyi Akinwunmi, has charged the Super Falcons to break the jinx of not doing well at the World Cup when they play at the Canada 2015 FIFA Women World Cup in June. At a meeting in Abuja, Akinwunmi, who is acting in the absence of President Amaju Pinnick, urged the players to bring a positive change to the women football brand. “There has never been any doubts about your preeminence on the African continent. Out of the nine continental championships staged so far, Nigeria has won seven of them. You have also consistently qualified for the FIFA Women’s World Cup. “However, your record at the FIFA Women’s World Cup is not good enough. It is time for you to appreciate the fact that being champions of Africa is not enough. You have to facilitate change, in the true sense of it. The poor outings at previous World Cup competitions

mal contract, many pundits did not want the NFF to keep him at the job. “It’s a fresh start. We need the support of our fans, media and every Nigerian to return the team to where we truly belong,” Keshi pleaded after signing the contract. “As a coach and former player I was also hurt that we failed to qualify for the last Nations Cup. “I remain confident that this time around we will see an improvement, change in attitude and positive results. To succeed, we all need to come together as one because Nigeria belongs to us, this is not Stephen Keshi’s team but our national team.” Meanwhile, Keshi’s former assistant, Daniel Amokachi, may not return with him as Salisu Yusuf, who led Kano Pillars to league title in 2008, has been tipped as replacement. Keshi declined to comment on the little reshuffle in his back room staff but reports have emerged that the coach was also instrumental in the sacking of the assistant coach who had stood for him since the end of the 2015 AFCON qualifiers. However, the NFF’s technical committee boss Felix Anyansi-Agwu said: “The NFF board is confident Keshi can take the Super Eagles to new heights. “We want Nigerians to see this as a new beginning and to support the team and the NFF.”

Akinwunmi

have not helped the women football brand in our country.” In six previous appearances at the FIFA Women’s World Cup, the Falcons have conceded 52 goals, scoring only 15. At the finals in China in 1991 and the 2003 competition in USA, the Nigerian girls did not score a single goal, even as they let in seven goals in China and 11 in America 12 years later. The Falcons play USA, Sweden and Australia in Group D of this year’s FIFA Women’s World Cup finals in Canada, taking place from June 6 to July 5.

Iheanacho resumes training at Man City

Iheanacho (right)

lying Eagles midfielder, Kelechi Iheanacho, has resumed full training with Manchester City’s Elite Development Squad dispelling fears that the youngster will not star for Nigeria at the FIFA U-20 World Cup on account of injury. Iheanacho would have featured against Chelsea’s U-18 side in the final of the FA Youth Cup on Monday. But manager Jason Wilcox had to withdraw him from the squad at the last minute so he doesn’t suffer a relapse. This was also the case against Schalke 04, when he had to be subbed off eleven minutes after his introduction.

‘’Kelechi Iheanacho has started full training with Manchester City’s Academy Team,’’ a representative of the Taye Academy product told SL10.ng. ‘’He was supposed to play yesterday’s (Monday) g ame against Chelsea U-18 but was dropped at the last minute. ‘’All things being equal, he’ll be in action when the second leg of the FA Youth Cup final is played on April 27.’’ The word from Manchester City is that if Iheanacho comes through the Chelsea game unscathed, he would be allowed to attend the Flying Eagles training camp in Germany.

Ameobi in action against Crystal Palace

Chivita boosts soccer fans at viewing centre Emmanuel Tobi

hi Limited, maker of Chivita 100% fruit juice at the weekend, held a free screening of the football match between Manchester United and Chelsea FC in a bid to re-emphasise and add flavour to the partnership with Manchester United. The event which took place at the popular Kingsize Restaurant located at Oregun in Lagos had in attendance a plethora of guests including several journalists, soccer fans and officials of Chi Limited who distributed free drinks of Chivita 100% to the delight of the audience. The screening, or-

ganised with a view to increasing public awareness of the partnership between Chivita 100% and the English Premier League team, saw many fans showing their unalloyed support for the team and expressing their wishes to remain loyal consumers of Chivita 100% fruit juice. Speaking at the event, Obinna Dike, a student of Lagos State University said, “this is a good event organised by Chi Limited and the partnership with Manchester United is a great one that would possibly spur the team to victory. It is also very interesting to see these brands connect with passionate soccer fans.”

Man United’s Chivita ambassadors, Antonio Valencia (left) and Angel Di Maria

International Sport 53

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Jardim proud of Monaco’s feat

oach Leonardo Jardim believes Monaco’s march to the Champions League quarter finals is a proof that clubs do not have to splash the cash in order to achieve European success. Four years have passed since Dmitry Rybolovlev’s takeover prompted a slew of big-name arrivals at the Stade Louis II, but the Russian billionaire has tightened the

have to be on top form if they are to advance to the semi-finals past a Juventus side doing well in Serie A and well poised after Arturo Vidal’s spot-kick winner in Turin last Tuesday. Juve are bidding to reach their first Champions League semi final for 12 years and boss Massimiliano Allegri is taking nothing for granted ahead of Wednesday’s encounter.

purse strings in recent seasons and, with most of Monaco’s expensive signings subsequently moving on, Jardim has been forced to nurture young talent. “We went from the worst qualified team in the fourth pot, to winning the group, to knocking out a European giant in Arsenal (in the last 16),” he told BeIN Sports’ The Ligue 1 Show. Jardim’s young guns will

I have the best squad in the world, says Ancelotti

17-year-old shocks Verdasco at Barcelona Open

eal Madrid coach Carlo Ancelotti says he is not concerned by a spate of injuries ahead of Wednesday’s Champions League quarterfinal second leg at the Estadio Santiago Bernabeu as he has the best squad in the world to choose from. Ancelotti is without four first-choice players for the game, with midfielder Luka Modric and attacker Gareth Bale both picking up injuries in Saturday’s 3-1 La Liga win over Malaga. Centre-forward Karim Benzema still suffering from knee knock picked up in last Tuesday’s goalless first leg, and left-back Marcelo is suspended. The Real coach said during his pregame news conference that he was not thinking about which players would be miss-

F1: Hamilton prepares for European season

R Ancelotti

FIXTURES Monaco vs Juventus 7:45pm Real vs Atletico 7:45pm ing, but rather how to reach into his squad to choose a side capable of performing as well as Madrid had in last week’s first meeting at Atletico’s Estadio Vicente Calderon.

ussian teen Andrey Rublev advanced to the second round of the Barcelona Open by beating former champion Fernando Verdasco 7-6 (4), 6-3 on Tuesday. The 17-year-old Rublev, who entered as a qualifier ranked 329th, broke the Spaniard three times while saving five break chances. Rublev will next face 13th-seeded Fabio Fognini. Also, Victor Estrella beat Dominic Thiem 6-3, 7-6 (3) and will play Marin Cilic in the second round, while seventh-seeded Roberto Bautista Agut advanced to the third round after beating Thomaz Bellucci 6-3, 6-4.

Toure set to leave Man City

aya Toure has said he wants a new challenge and is prepared to leave Manchester City if he feels he is no longer wanted by the club. Toure has come under heavy criticism in recent months as City’s poor form has seen them drop to fourth in the Premier League. City are expected to bring in new faces over the summer in a bid to freshen up the aging squad and Toure is one of those players who could be sold to make way for new arrivals. The Ivory Coast international is expected to hold talks with the club at the end of the season but the 32-year-old has not ruled out a summer exit. “No amount of wages will make me stay at a club if I feel that I no longer belong there or if no challenge exists for me,” he told Foot Mercato. “It would be unjust on my part. There comes a moment where numbers don’t stop us, it goes beyond that, even if the English press seems more interested in the numbers than the sport itself. “For the future, I don’t know more than you do, because I will always go where I am offered new challenges. That is in my nature.” Toure was singled out by manager Manuel Pellegrini last week but he insists the criticism will only make him stronger.

Juventus pair Giorgio Chiellini and Vidal lose out to Monaco forward Anthony Martial in an aerial duel during the first leg match

Toure (left)

No Falcao decision – Vasilyev

onaco vice-president Vadim Vasilyev claims Manchester United bosses have yet to decide whether they will sign Radamel Falcao on a permanent deal in the summer. Colombia striker Falcao joined United on a one-year loan deal in September but has failed to shine during his time at Old Trafford - scoring just four goals in 25 appear-

fter winning three out of four races and taking a 27-point lead in the standings, Formula One champion Lewis Hamilton has a new challenge as he and Mercedes prepare for the start of the European season. A third world title, which would lift the Mercedes driver level with boyhood hero Ayrton Senna and British great Jackie Stewart, looks increasingly likely but Europe will play a big part in deciding that. Although Hamilton said after Sunday’s Bahrain Grand Prix that he felt more

comfortable and ‘powerful’ in the car than last year, when he won 11 races, he actually has no more wins at this stage than he did in 2014. “I don’t think it moves me up a gear, I’m already in a pretty good gear,” Hamilton said on Sunday as he contemplated the return to Europe and the Spanish Grand Prix on May 10, followed by Monaco on May 24. “This weekend, I got the pole and did the job. Now I’ve got to improve when I get to Barcelona, I don’t want to be back where I was last year.”

Smalling agrees new Man United deal

anchester United’s England defender Chris Smalling has agreed a new contract until June 2019. The 25-year-old joined United from Fulham in 2010 and has won two Premier League medals at Old Trafford. United manager Louis van Gaal said: “Chris has improved and developed immensely during the short time that I have been at the club. “He has become an integral part of the first team squad. I am delighted he has signed a new contract.” Smalling began his career at the Millwall academy and played for non-league side Maidstone United before joining Fulham in 2008. The centre-back has made 147 appearances for United since his debut against Chelsea in the Community Shield in August 2010, and his most recent goal came in the 4-2 win over rivals Manchester City this month. Commenting on his new deal

ances for the Manchester club this season. Falcao’s indifferent form has led to suggestions that his future lies elsewhere and Vasilyev revealed on Tuesday that United are keeping their options open, for the moment at least. “The decision is in Manchester, then we will talk with the player to find out what he wants.”

Smalling

at the club, he said: “I am so proud to play for such a great club. We have developed as a team over the course of the season under Louis van Gaal and we are now playing as a complete unit. “This is a very exciting time to be at Manchester United, we are all determined to get back to where we belong and competing at the highest level.”

Mertesacker doubtful for Chelsea game

rsenal defender Per Mertesacker is losing his race to be fit in time to line up for Arsenal in Sunday’s top-of-thetable clash against Chelsea at the Emirates. Mertesacker limped out of Arsenal’s FA Cup semi final victory over Reading with an ankle injury that manager Arsène Wenger admitted “doesn’t look too good.”

Mertesacker was replaced by January signing Gabriel Paulista at Wembley and Arsenal are preparing for the fact the Brazilian will have to face Premier League leaders Chelsea at the Emirates on Sunday. Arsenal will continue to assess Mertesacker during the week, but the German fears he will not recover in time to take on Jose Mourinho’s men.

Sport

WEDNESDAY, APRIL 22, 2015 NEW TELEGRAPH

Nigerian League Rendezvous

with charles Ogundiya

charlesog2001@yahoo.com,

08098042287

Celebration: Knocks for Odunlami, Aggrey

here have been more knocks for Sunshine Stars players, Kunle Odunlami and Prince Aggrey, after their dramatic celebration in the 2-1 league victory over Dolphins of Port Harcourt at the weekend. The two national team players stripped naked to celebrate their winning goal against Dolphins FC. Despite the two players already getting a-onematch ban and also fined

N50, 000 each for indecent exposure and conduct capable of bringing the league to disrepute by the League Management Company, former international, Moses Kpakor, has called for stiffer penalty. “It is too shameful and they should be banned for a minimum of three matches,” the former BCC Lions of Gboko player said. “When a player removes his jersey during a game, the penalty is auto-

matic yellow card, so pulling off everything should attract a stiffer penalty. “It is crazy. I will also love the club to sanction the players to serve as deterrent to others. The monetary fine of N50,000 is okay but I am not satisfied with the ban.” He also suggested that the two players should be excused from the national team for now until they apologise for their misconduct and promised to be of a good conduct henceforth.

Nasarawa will defeat Kano Pillars – Obi

ormer Kano Pillars midfielder, Eugene Obi, has said his club, Nasarawa United, will be fired up to defeat Nigeria league defending champions, Kano Pillars, on Wednesday (today). Speaking with League Rendezvous on the telephone, Obi said they have to pick the maximum points in the game after dropping points at home to

Shooting Stars of Ibadan at the weekend. “We were all disappointed with the outcome of the game against Shooting Stars,” he said. “The players are all fired up to defeat Kano Pillars so that we can move up the league table. We have the players and the technical crew to get the needed result.” The game will be a re-

union between Baba Ganaru and Kano Pillars, a team he led to two consecutive league titles before joining Nasarawa at the beginning of last season. Nasarawa are currently 14th on the league table with four points from three games, while Kano Pillars have won two games from two matches to maintain sixth position on the table.

Akwa United’s Aniekpeno Udoh (In blue) try to skip off Gabros’ Chibuzor Okonkwo in a league match

Heartland vow to maintain winning streak

eartland of Owerri, have declared their readiness to secure the maximum points in their home game against Abia Warriors. Heartland, yet to drop a point in the new season, will be wary of the Warriors who picked a point in the same fixture last season. The Naze Millionaires at the weekend maintained their perfect start to the season after a 3-1 win over Kwara United in Ilorin. The defeat put an end to the Afonja Warriors’ unbeaten start to the new season. Speaking to our correspondent on the telephone, the media officer of the team, Cajetan Nkwopara, said the Owerri team would maintain

the momentum. “It is too early to be talking about winning the league, but we will take it game after game,” he said. “We have won three games now from three matches, I believe we have shown that Heartland means business this season. “Heartland will not be complacent because this is just the start of the season, Abia Warriors will surely pose a threat but we will be ready for them.” Abia Warriors are yet to win a game this season, drawing a game and losing two. Heartland defeated Shooting Stars 1-0 in Ibadan in their first game of the season before a 5-2 whitewash of Nasarawa United in Owerri in their second game.

World tourney: NTTF jittery over lack of funds Ajibade Olusean

igeria Table Tennis Federation is still frustrated by the National Sports commission over the trip for the International Table Tennis Federation World Championships slated for China. The tournament serves off in Shinzou in four days but Nigeria may not present a team at the championship because the NTTF is still shopping for funds to prosecute the tournament. New Telegrapgh had exclusively reported last week that Nigeria might not feature a team in the tournament due to lack of funds,

and a press release from the federation, a copy of which was made available to our correspondent, confirmed the ugly development. The release which was signed by the NTTF press secretary, Olalekan Okusan, stated that: “Four days to the commencement of ITTF World Championships in China, there are doubts about Nigeria’sparticipation at the global tournament due to lack of funds. “Effort by NTTF to secure fund from the NSC has been frustrated by the office of Federation and Elite Athlete Department headed by Khalid Gidado.

with Ajibade Olusesan 0706 537 7853

Quadri ready to shine in China

National Table Tennis star, Funke Oshonaike

“Only last week, Nigeria failed to take part in the ITTF African Junior Championship following the inability of the NTTF to secure funds from the NSC. “Despite efforts by the Wahid Oshodi-led NTTF

board to return Nigeria to the zenith of the sport in Africa, this has not been complemented by adequate backing from the NSC and it has become a source of worry to table tennis buffs.”

Izonritei’s nephews take to tennis

Izonritei

aniel and Dennis, identical twins and nephews of Olympic boxing silver medallist, David Izonritei, have taken to tennis rather than boxing which made their uncle famous and wealthy. Daniel and Dennis Izonritei, 12, attend the Grandmates Secondary School, a private school in Oke Afa, and play their tennis at the Estate Tennis Club at Jakande gate. “We attended a holiday coaching program at the tennis club and immediately fell

in love with the game. Now we want to be very good players.” said Daniel, the taller of the two brothers. “We tried our hands at doubles once and we enjoyed it. We hope we can be as good as the Bryan brothers (identical twins from the USA) who are world champions in doubles.” Daniel and Dennis are also the best sprinters in school in their age category. Daniel is the gold medalist while Dennis is the runner-up and they plan to use their sprint-

ing prowess to maximum advantage on the tennis court. Dennis who is a Rafael Nadal fan lost his opening match to Nmesoma Ekeugo from Lagos 9-5 while Daniel, a Novak Djokovic admirer, also lost his debut match against Femi Kehinde 9-1. “We are really enjoying this tournament because there are so many boys of our age and even if you lose, you get to play again.” Daniel said, promising to do better in his next match.

igeria’s top table tennis player, Aruna Quadri, has said that he is ready to take on the rest of the world as the International Table Tennis Federation World Championships serves off in China this weekend. The player told our correspondent in an exclusive interview that despite the financial crisis affecting Nigeria’s trip to China, he was ready to leave his base in Portugal for the tournament. He said that although it was demoralising that government was yet to release funds for the tournament, he would still travel to the Far East and challenge for the honours. “I have been preparing so hard for the world championship. I don’t know if Nigeria will come as a team but I have already bought my tickets. I will travel soon and will do my best there,” he said.

Sport 55

NEW TELEGRAPH WEDNESDAY, APRIL 22, 2015

Eight schools battle for Etisalat U-15 Cup Moses wins goal of the month award E I Emmanuel Tobi

Ifeanyi Ibeh

njured Nigeria international Victor Moses has won Stoke City’s Goal of the Month Award for March. The goal was voted by Stoke City fans through the club’s website. The winger, who is on loan at Stoke City from Chelsea, scored a sublime header against Everton as he backpedaled but man-

aged to still generate enough power to beat Tim Howard in the Toffee`s goal to give ‘The Potters’ the lead from 15 yards out. The former Wigan star received 72% of the vote, beating both Mame Diouf efforts against Crystal Palace (28%) and Everton (0%). He scored three goals in the league for ‘The Potters’ before his most recent injury setback.

ight regional schools began hostilities to lift the Etisalat U-15 Schools Cup as the competition kicksoff on Tuesday with the final billed for Saturday April 25 at the Legacy pitch of the National Stadium, Lagos. The schools are: Greensprings Secondary School, Lagos; Asegun High School, Oyo; Government Secondary School, Imo and Washington Memorial Grammar School, Onitsha, Anambra. Others are; Rimi College, Kaduna; Army Day Junior Secondary School, Sokoto; Winners College Akure,

Ondo and Government Model School, Bida, Niger. Speaking at the draw in Lagos on Monday, the Chief Marketing Officer, Etisalat Nigeria, Francesco Angelone, said that the teams emerged from the regional matches that took place among 37 school football teams across eight regions in Nigeria, last year. He said, “I must commend the efforts of all the school teams that participated in the regional matches of the second edition of the Etisalat School Cup. As we kick-off the national finals, it is my belief that, more talents will be discovered in the Nigerian football scene.’’

Commending the initiative, President, Nigerian School Sports Federation, Mallam Ibrahim Mohammad, said; “The NSSF are happy with Etisalat Nigeria for making the competition possible. We value their support for grass root football and we hope that this would provide an opportunity for the discovery of talents among the different teams.” The winning school gets N2 million with the players receiving N50,000 each while the first runner-up team would be awarded with N1 million and N30,000 for each player while N750,000 will be given to the third placed school and N20,000 to their players.

Athletes jostle for N8m at Lagos Classics Charles Ogundiya

Moses (left) trying to dribble past Man City’s Bacary Sagna

ver N8m is at stake at the maiden Lagos Athletics Relays Championship scheduled for April 24 and 25 at the Teslim Balogun Stadium. The tournament is part of the Lagos International Sports Classics, which has hosted and still hosting tournaments in table tennis, badminton, taekwondo, swimming, golf among others. Nine events will be competed for in the junior

and senior categories in the relay events with over 43 schools confirmed for the junior division while 18 clubs have also been listed in the senior cadre. According to the chairman, Lagos State Athletic Association, Olatunde Makanju, the tournament is meant to help popularise the sport among students as well as ignite interest of people in athletics. “In Lagos, we are always setting the pace and we hope that this maiden edition will be a springboard for the sport to win more disciples

and have more young people competing in athletics,” Makanju said. The junior category is open to all secondary schools in Lagos State with the top three athletes in each event going home with N50, 000, N30, 000 and N20, 000 respectively. The senior division is open to states, clubs, tertiary institutions, military, para military organisations and foreign countries. The top three athletes will take home N120, 000, N80, 000 and N50, 000 respectively.

NFF blames KESHI’S RETURN crisis for delay He has learnt his lessons –Ikpeba

Comfort Chukwu Abuja

ice President of the Nigeria Football Federation, Seyi Akinwumi, on Tuesday blamed the crisis that rocked the soccer house for the delay in the renewal of Stephen Keshi’s contract as Super Eagles coach. The federation had come under criticism for waiting too long to tie the coach down on a new contract but Akinwunmi said on Tuesday that the logjam that engulfed the federation after the 2014 World Cup and the just-concluded 2015 general elections combined to force the prolonged delay. The coach finally put pen to paper yesterday (Tuesday) when he was presented to the media at the NFF secretariat and Akinwunmi said the federation was happy with the coach. ”We know how worried our fans and the world have been over the contract. We have confidence in Keshi, we put the past behind us, and we stand before Nigerians to say that improving our game is our priority” Akinwumi said. NFF technical committee chairman, Felix Anyansi Agwu, corroborated Akinwunmi’s when he said, “the NFF has trust in the capacity of Keshi to take the Nigerian football to a higher height, that is why I will call on all Nigerians to support the Federation and all that Keshi stands for.”

Emmanuel Tobi

former international, Victor Ikpeba, on Tuesday urged Super Eagles coach, Stephen Keshi, to learn from the past mistakes that affected his role as the Head Coach of the national team. Ikpeba stressed that it was important for Keshi to work with all stakeholders in football and avoid clashing with people offering him advice. Keshi on Tuesday in Abuja signed a two-year contract to continue as the Head Coach of the Super Eagles. “One of the problems Keshi

had was that he did not listen to people and had a poor working relationship with everybody. A coach must be ready to take criticism. He fought everybody including his players, his employers, the media and former internationals. We all wanted the progress of the team. We were all concerned and disappointed that we did not go to AFCON 2015 and so in most cases we mean well by criticising constructively,” he said. Ikpeba added that, “He really deserves a second chance because I believe he has learnt his lessons especially some of the mistakes he made in the past. We all make mistakes; we must disagree to agree in

the interest of the game. Kudos should be given to the NFF president, Amaju Pinnick, for this giant step and creating peace and stability in the Super Eagles which remains Nigeria’s biggest football brand.”

Keshi

Lawal tasks coach on junior players’ invitation Charles Ogundiya

Lawal

ormer Super Eagles midfielder, Garba Lawal, has advised re-appointed Super Eagles coach, Stephen Keshi, to give some exceptional players in the junior teams a chance. Reacting to Keshi’s return as the national team coach on Tuesday, Lawal said the coach must learn from his past mistakes of thinking that some of the

players were not ripe for the Super Eagles. “He must give some of the U-20 players a chance in the national team,” the former Roda FC of Holland player said. “Some of us started at a very tender age, somebody like Daniel Amokachi made his debut for the national team when he was 17 years old.” On the team’s chances in the qualifiers for the 2017 African Cup of Nations, La-

wal said the time was too short and Keshi must hit the ground running. He said: “We are already behind schedule in our preparations because we did not have a coach. Now that Keshi has returned, he must come up with a plan on how we can make use of the short time. “He is not new to the team, he understands the system and I am sure he can manage the situation with the right attitude.”

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The arithmetic of supplementary elections

he Independent National Electoral Commission (INEC) declared the Gubernatorial Elections in Abia, Imo and Taraba States as inconclusive and scheduled supplementary elections in the said states to conclude the elections, make a return and declare a winner. The Electoral Management Body has therefore scheduled the supplementary elections in the three States to hold on the 25th day of April 2015. The Independent National Electoral Commission justified ordering supplementary elections in the affected States on the basis of the factual situation of the votes cast during the gubernatorial elections on the 11th day of April 2015 and the law regulating the making of returns and declaration of the winner of an election. The three dominant political parties affected by the order for supplementary elections have been up in arms against each other. The APC in Imo State has demanded the replacement or redeployment of the Resident Electoral Commissioner on the basis that he has been compromised. They also question the rationale of using the number of registered voters in the polling units to order for supplementary elections rather the use of the number of Permanent Voters Cards collected. In Taraba State, the APC alleged widespread non use of Smart Card Readers, destruction of Smart Card Readers, non accreditation of voters, kidnapping of electoral officials, ballot box stuffing, vote allocation and violence. They therefore urged the Independent National Electoral Commission to “set aside the declaration of inconclusive result for Taraba State. The results of all the places affected by wrongdoings in all the 11 Local Government Areas should be cancelled outright after which a fresh collation should be done and a winner declared”. In the alternative, they demanded that “the result of the entire state should be cancelled and a fresh election conducted”. The Peoples Democratic Party (PDP) on their own part questioned the competence of the Returning Officer of Taraba State to cancel the results from Donga Local Government Area when in reality only a few of the Polling Units had challenges. What then are the real issues in the States due for supplementary elections? Can the Independent National Electoral Commission cancel the elections in the whole State and conduct a fresh election? Can a Returning Officer cancel the results from a Local Government Area when challenges were reported only in a few polling units or wards? What is the state of the law and where do we stand in relation to supplementary elections? Can the Independent National Electoral Commission suspend Supplementary elections in a State based on the number of Permanent Voters cards collected? In Imo State, the Independent National Electoral Commission stated that in the Governorship election, Rochas Okorocha of APC scored 385,571 votes as

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Jega

against that of Emeka Ihedioha of the Peoples Democratic Party who scored a total of 306,142 votes. This means that the candidate of the APC scored 79,429 votes more than that of the PDP. However, the Independent National Electoral Commission ordered supplementary elections in 250 polling units in 23 of the 27 Local Governments based non conduct of elections, ballot box snatching and other issues based on cancellation and the total number of registered voters involved stood at 145,000. In Taraba State, the Peoples Democratic Party scored a total of 317,198 votes while the All Progressive Congress scored a total of 262,386 votes. This means that the candidate of the People Democratic Party is leading with a total of 54,812 votes. However, due to various problems and challenges, the Commission ordered for supplementary elections in 218 polling units across 10 Local Government Areas of the State involving 127, 125 registered voters. In Abia State, the Governorship candidate of the PDP, Okezie Ikpeazu, in a statement made available to THISDAY, said: “It is obvious that both the INEC’s

It can be seen that elections in Nigeria are organized around a pyramid and at the base of that pyramid is the Presiding Officer

Resident Electoral Commission for Abia State, Professor Mrs. Celina Oko and the Returning Officer, Professor Benjamin Ozumba, didn’t hide their bias in declaring the Abia governorship election inconclusive where there is a clear winner with wide margin.” According to him, “The case of Abia state governorship election result will definitely raise so much credibility and integrity questions against Professor Jega and INEC. It is unheard of that in an election where the winner has 83,053 votes against loser is declared inconclusive. “INEC has accepted and announced result from the 17 local government areas of Abia, and I scored 248,459 while Alex Otti got 165,407, which means that Otti has 83,053 votes deficit, instead of declaring me winner, the Resident Electoral Commission for Abia State, Prof. Mrs. Celina Oko, who I later got to understand is a relative of Otti, got a willing partner in the person of Prof. Ozumba. The first question is whether the Independent National Electoral Commission can cancel the election conducted in a State and organize fresh elections? The answer is yes and no. Yes in the sense that “where a date has been appointed for the holding of an election and there is reason to believe that a serious breach of the peace is likely to occur if the election is proceeded with on that date or it is impossible to conduct the elections as a result of natural disasters or other emergencies, the Commission may postpone the election and shall in respect of the area, or areas concerned, appoint another date for the holding of the postponed election provided that such reason for the postponement is cogent and verifiable” There are instances and situations where the Commission can cancel the results of an election. By section 53(2) of the Electoral Act, 2010(as amended) over voting where the votes cast at a polling unit exceeds the number of registered voters in that polling unit, the result of the election in that polling unit shall be declared void by the Commission and another election may be conducted at a date to be fixed by the Commission where the result at that polling unit may affect the overall result in the Constituency. The Commission may also conduct an election on a later date when an election has failed in a particular polling unit due to logistic challenges, riots, and disruption of polling at a polling unit or polling unit or a whole ward or Local Government area. But whose responsibility is it to cancel the result of an election? To determine this, it is important to first determine the person or persons with responsibility to declare

the result of an election. Section 27 of the Electoral Act states clearly that the results of all the elections shall be announced by the Presiding Officer at the Polling unit, the Ward Collation Officer at the Ward Collation Centre, the Local Government or Area Council Collation Officer at the Local Government Area/ Area Council Collation Centre and the State Collation Officer at the State Collation Centre. Furthermore, the Returning Officer shall announce the result and declare the winner of the election at Ward Collation Centre in the case of Councillorship election in the Federal Capital Territory; Area Council Collation Centre in the case of Chairmanship and Vice-Chairmanship election in the Federal Capital Territory; State Constituency Collation Centre in the case of State House of Assembly election; Federal Constituency Collation Centre in the case of election to the House of Representatives; Senatorial District Collation Center in the case of election to the Senate; State Collation Centre in the case of election of a Governor of a State and National Collation Centre in the case of election of the President. The Chief Electoral Commissioner shall be the Returning Officer at the Presidential election. It can be seen that elections in Nigeria are organized around a pyramid and at the base of that pyramid is the Presiding Officer and followed by the Ward Collation Officer and the Local Government Collation Officer. If an election did not take place or is compromised at the Polling Unit, there won’t be anything to collate at the Ward and same shall be recorded at the Ward level. If a ballot box is snatched or a Presiding Officer is kidnapped, then there won’t be results for collation. If there are twenty polling units in a ward and elections are held in 10 and fail in 10 the result of the entire Ward cannot be cancelled by the Collation Officer at the Ward level or the Local Government Collation Officer; it is the results or non results from the other 10 polling units that will be affected. This was the ratio in the case of Ojukwu v Onwudiwe(1984) 1 SCNLR where the Hon. Justice Uwais( as he then was) held that “In all therefore, the learned trial Judge found that the election which took place at 52 out of 138 polling booths was discredited. By inference it follows that the election at the remaining 86 polling booths was flawless. Thus the discredited polling booths were not half as many as those validly used. Nevertheless the learned trial Judge disallowed the votes in all the 138 polling boots. I think this is a serious misdirection”. The law as at today is that once all the processes of an election had been concluded and all entries into the various forms of the election result had been entered and endorsed by party agents at the various levels, the returning officer at the top of the Electoral Pyramid lacks the power to cancel the election. That power is the exclusive preserve of the Election Tribunals.

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