Wednesday, april 29, 2015 binder1 by Newtelegraphonline

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Wednesday, April 29, 2015

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Vol. 2 No. 434

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APC lifts embargo on AIT 's coverage of buhari

N150

Jonathan orders payment of oil importers' debts Adeola Yusuf and Johnchuks Onuanyim

resident Goodluck Jonathan has ordered the Coordinating Minister for the

Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, to raise Sovereign Debt Notes (SDNs) and pay part of the N215 billion backlog of interest and foreign exchange dif-

ferentials on fuel subsidy, which the government owes oil importers. The president, a source told New Telegraph yesterday, decided to intervene to ease the lingering

nationwide fuel scarcity, which again, seeped into Lagos last week, following recommendations to him by the Department of State Service (DSS). The DSS, it was learnt,

had earlier summoned the Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Thomas Olawore, after he threatened at a press

conference last Friday that members of his association would freeze fuel importation due to a total of N256.2 billion debts on subsidy, interCONTINUED ON PAGE 6

Freed from Sambisa

lHeroic Nigerian soldiers rescue 293 females

Quick Read

Editorial

Grappling with Lagos gridlock

}19

File picture of jubiliant soldiers

Pay workers before you go lNLC gives govs deadline to settle salary arrears

Nurudeen Senate passes Yekeen Abuja N4.4trn orkers are warming budget }3 Wup for confrontation

with governors owing salaries which, in some states, are up to eight months. The Nigeria Labour Congress (NLC) yesterday told the governors, espe-

cially the outgoing ones, to ensure that they clear the salary arrears before the May 29 handover date or face an industrial crisis. Benue, Plateau, Osun,

and Ekiti states are among states owing workers’ salaries between six to eight months’ arrears. NLC said it had directed its members in the affected

states to commence mass protest from May 1 when Workers' Day would be observed worldwide till May 29 when the outgoing govCONTINUED ON PAGE 2

News

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Heroic soldiers rescue 293 females from Sambisa Emmanuel Onani and Ahmed Miringa

Maiduguri

reedom has finally come for 293 females who have been in Boko Haram captivity for a long time. The military announced yesterday that soldiers rescued the abductees, comprising 200 girls and 93 women, from Sambisa Forest in Borno State, after days of fierce fighting. It was, however, not clear whether the over 200 schoolgirls, kidnapped over a year ago in Chibok, were among the girls and women that were rescued. The abduction of the Chibok girls elicited global outrage and is believed to have contributed to the defeat of the ruling Peoples Democratic Party (PDP) in the just-concluded general elections. A statement yesterday by PRNigeria, an organisation that handles information dissemination for some government agencies, said the invasion of the Sambisa Forest, the last of Boko Haram strongholds, led to the destruction of at least three of the sect's camps, including the one in Tokumbere. Director of Defence Information, Major General Chris Olukolade, also confirmed the rescue of the

women. He said: "I can only confirm the rescued this (yesterday) afternoon of 200 girls and 93 women in different camps in the forest. "We are yet to determine their origin as all the freed persons are now being screened and profiled. Please don’t misquote me on their origin. We will provide more details later.” However, an intelligence source told New Telegraph that "more than half of the abducted Chibok girls are likely among the rescued."

ernors would hand over to the new administration. NLC 's factional President, Mr. Ayuba Wabba, said at the opening of 9th Quadrennial National Delegates' Conference of Medical and Health Workers' Union of Nigeria in Abuja that states owing workers would know no peace between now and May 29. He said: "It is a position that we have already taken. In our message to all the state councils' elections of NLC, we had insisted that part of the decisions they have to take, which most of the states have taken, that they should not allow the governors that are serving out to go with their salary arrears. "They should insist, including protest to their office, that those salaries must be paid. We see no reason that can be advanced for not paying those salaries. Salary is a legitimate earning of the workers; they are not doing a favour to a worker by paying him salary. "We have about five states. I know Plateau for sure and Benue. We have already commissioned our state councils to do that effectively. From May

He said the troops of had continued their offensive against Boko Haram insurgency had cleared four key terrorist camps in the Sambisa Forest. “This is to inform you that our gallant troops have been making progress in the desired aim of ridding the nation of terrorists and their sanctuaries. It is heart-warming to inform you that today (yesterday); troops continued the offensive and cleared four key terrorists' camps

in Sambisa Forest, Borno State. So far, they have destroyed and cleared Sassa, Tokumbere and two other camps in the general area of Alafa, all within the Sambisa Forest,” he stated. Meanwhile, a report by AP said hundreds of bodies had been found in a town held by Boko Haram The report, quoting witnesses, said the bodies were suspected to be those of civilian victims of Boko Haram. A local government spokesman, Mr.

Babagana Mustapha, said a committee sent to Damasak at the weekend found the town littered with bodies of women, children and some adult men. He said the men appeared to be Boko Haram fighters killed when troops from Niger and Chad reclaimed the town from Islamic extremists in March. Mustapha told reporters that Chadian forces told him hundreds more bodies of insurgents remain in surrounding bush.

L-R: Accountant-General of the Federation, Mr. Jonah Otunla; Minister of State for Finance, Ambassador Bashir Yuguda; Head of Civil Service of the Federation, Mr. Danladi Kifasi; Permanent Secretary, Ministry of Land and Urban Development, Mr. George Ossi and Auditor-General of the Federation, Mr. Samuel Ukura, at the launch of accrual accounting manual in Abuja…yesterday.

Pay workers before you go CONTINUED FROM PAGE 1

It was learnt that troops from the 7th Division of the Nigerian Army rescued the women. The Ag Director, Army Public Relations, Col Sani Usman Kukasheka, in a statement yesterday in Maiduguri, said: “The troops have rescued 200 abducted girls (not Chibok girls) and 93 women. They are presently being processed. Similarly, a number of equipment and weapons have been captured. We will send further details and photographs soon.”

Day, that's when they will start the protest to the governors and even to their houses. We have taken a decision at the level of National Administration Council (NAC) and Central Working Committee. All the states have been effectively informed and directed to do so. The fight will start from May Day to May 29 when they will be doing handing over." According to Wabba, all governors owing workers’ salaries must pay before they exit offices and NLC will not relent until their successors pay the salary arrears. He also lamented the state of the nation's health care delivery, saying it is worrisome that Nigerians spend about N1 trillion yearly on medical tourism. He added that the amount of money through medical tourism has revealed the state of decay in the nation's health care system. He urged Presidentelect, Muhammadu Buhari, to prioritise investment in health infrastructure, training and retraining of human resources and strive to attain set targets in the health sector.

APC suspends zoning till after May 29 Donald Ojogo Abuja

he All Progressives Congress (APC) has suspended the zoning of offices, especially in the National Assembly in a bid to defuse tension following the jostling for positions by lawmakers from both chambers. New Telegraph learnt yesterday that already, the President-elect, Major General Muhammadu Buhari, had asked the party leadership to suspend all deliberations on the zoning of parliamentary leadership positions pending the handover on May 29. A top party official said the President-elect was disturbed by the 'dangerous media slant' over the tussle for leadership positions in the National Assembly. The source said the President-elect intervened to stop the scrambling for party positions from degenerating into a crisis that could spin out of control. "As far as the President-elect is concerned

on this matter, it is not just diversionary, but becoming embarrassing to the party because the way and manner some party leaders are going about it is just not pleasant at all. "He is particularly disturbed about the dangerous media slant the issue has taken to the extent that damaging things are being done against one another in the media by the aspirants. For him, the most important thing is a successful handover on May 29. "I think it is in that regard that he has counseled the leadership of the party to halt all debates or deliberations about the issue of zoning until the handover of government; then things can follow," he said. New Telegraph gathered that the Presidentelect has suggested to the APC leadership to bring up the deliberation between May 30 and June 1. Barring any unforeseen circumstance, the next session of the National Assembly will be inaugurated on June 4. The decision to suspend the zoning of positions in the National As-

sembly came as the APC National Leader, Senator Bola Tinubu, was said to have directed his associates to back down on the move to make Senator George Akume the next Senate president. Tinubu, who had been linked with moves to install Akume, is now said to be backing Senator Ahmad Lawan (Yobe, NorthEast) to succeed Senate President David Mark. Mark is said to be involved in the Lawan project as he had reportedly suggested to the incoming president to 'try Lawan' if he wants to have smooth working relationship with the Senate. Tinubu was said to have been lobbying for Lawan because of the need to play safe by placating the North-East so that the zone would not field Hon. Yakubu Dogara from Bauchi State against House of Representatives Minority Leader, Hon. Femi Gbajabiamila, for the House speakership. Dogara has been endorsed by his zone for the job despite the fact that the yet-to-be ratified zoning arrangement of

the party has conceded the speakership to the South-West with Gbajabiamila, who has been the minority leader for the past eight years, being the top contender. But Mark's Special Adviser on Media and Publicity, Mr. Kola Ologbondiyan, said his boss was not part of the team lobbying to install Lawan as Senate president. "My boss knows nothing about it and I can tell you that he did not discuss or suggest anything of such to the Presidentelect," he said. Also, the spokesman of the APC Presidential Campaign, Mallam Shehu Garba, when asked for clarification on the matter, referred our correspondent to the party' National Publicity Secretary, Alhaji Lai Mohammed. Both Mohammed and Tinubu's media aide, Mr. Sunday Dare could not be reached for comments. The APC's spokesman did not respond to a text message sent to him after three failed call attempts while Dare's phone was on persistent call forwarding.

News

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Senate passes N4.4trn budget

lGives zero allocation to subsidy lEducation gets lion's share Chukwu David Abuja

he Senate yesterday passed the sum of N4,493,363,957,158 as the budget for the 2015 fiscal year. The approval came five months after the Federal Government presented the budget proposal to the National Assembly. No provision was made for fuel subsidy in the approved budget. In the budget proposal laid before the two Chambers of the National Assembly by the Federal Government, there was no provision for subsidy. The approved figure

is, however, N134.5 billion higher than the N4.357 trillion presented to the two Chambers of the National Assembly in the last quarter of 2014. A breakdown of the figure shows that the sum of N375,616,000,000 is for statutory transfer; N953,620,000,000 is for foreign and local debts service and the sum of N2,607,132,491,708 is for recurrent expenditure. The report also indicates that from the total sum of N953.62 billion approved for debt servicing, the sum of N894.610 billion is for domestic debts while N59.010 is for foreign debts. Also, the Senate approved the sum of N556,995,465,449 for

capital expenditure; N4,493,363,957,158 as aggregate expenditure, N21,030,000,000 for Subsidy Re-investment and Empowerment Programme (SURE-P) while the sum of N1,075.3 trillion is budgeted for fiscal deficit. Moreover, the Senate adopted $53 as oil benchmark, 2.2782mbpd, N190/ US dollar as exchange rate and 1.12 per cent as deficit/ Gross Domestic Product (GDP). The Report of the Joint Committees on Appropriation and Finance indicated that the allocation for SURE-P did not form part of the aggregate budget figure of N4,425,930,000,000 contained in the Bill laid before the National As-

sembly. The Senate approved the budget, following the consideration of the report of the joint committee, which was laid before the Chamber on Wednesday last week by the Deputy Chairman, Senate Committee on Appropriation, Senator Sonni Ogbuoji. Sectoral breakdown of the budget indicates that Niger Delta Development Commission has allocation of N46.720 billion; Universal Basic Education, N68.380 billion; National Assembly, N120 billion; Public Complaints Commission, N4 billion, and National Human Rights Commission, N1.516 billion. The Senate retained the

L-R: President-elect, Major General Muhammadu Buhari; Executive Vice-Chairman, Dantata and Sawoe Limited, Alhaji Mubarak Dantata and Managing Director, Mr. U. Heichuster, during a courtesy visit to Buhari in Abuja…on Monday.

FG: Public sector to adopt IPASA account model January 2016 Abdulwahab Isa Abuja

ffective from January 2016, all public sector entities across the three tiers of government are expected to prepare their accounts in accordance with the new accounting model – International Public Sector Accounting Standards (IPSAS). The new accounting method, which was unveiled yesterday, is conceived to deepen probity, accountability and transparency in the management of public sector finances. Speaking in Abuja at the official launching of the accrual accounting manual, IPSAS compli-

ant, Vice-President Namadi Sambo, represented by Minister of State for Finance, Ambassador Bashir Yuguda, directed all public sector entities to fully comply with the manual provisions in the preparation of their accounts. "With the launch of the manual, government hereby directs that all public sector entities must fully comply with its provisions. Budgetary provisions should also be made to assist in the accrual accounting concepts, especially in the process of identification and valuation of all government assets," Sambo said. Speaking in an interview with journalists, Accountant-General of Federation (AGF), Mr. Jonah

Otunla, stated that the new accounting system would ensure that government activities are administered in a transparent manner. Otunla said: "With the procedure, government activities are conducted in a manner that common man would understand. It also puts responsibility on the part of government to ensure that funds are used for the purposes of which they are set for. He said IPSAS was a product of joint ideas of the Federal Account Allocation Committee (FAAC), noting that the federal, states and local governments are involved in procedure. "We are all doing it, we are not just carrying them along but it is an exercise that is jointly being exe-

cuted by the three tiers of government. I'm just the chairman of sub-committee," he added. It would be recalled that the Federal Executive Council (FEC) at its meeting of July 10, 2010 took the decision that Nigeria adopts the provisions of the International Accounting Standards – which includes the International Financial Reporting Standards (IFRS) for the private sector, and the International Public Sector Accounting Standards (IPSAS) for public sector entities in Nigeria. Consequently, state governors, ministers and members of FAAC had at different occasions affirmed their commitments to the adoption of IPSAS in Nigeria.

sums of N73 billion for the National Judicial Council (NJC) and N62 billion for the Independent National Electoral Commission (INEC) as submitted by the President. Meanwhile, Education has the highest allocation of N392,242,784,654, followed by Defence/MOD/ Army/Air Force/Navy with N338,797,219,431 and Police Formations and Commands with N303,822,224,611. Health received N237,075,742,847; Interior, N153,330,022,460; Youth Development, N69,423,427,479; National Security Adviser, N62,226,771,999; Petroleum Resources, N58,274,429,975; Secretary to the Government of the Federation, N48,389,942,264; Foreign Affairs, N41,649,382,166, Agriculture and Rural Development, N31,869,020,717. Also, the sum of N26,590,103,366 is earmarked for Science and Technology; N25,173,916,543 for Works; N23,682,420,241 for Information; N20,085,865,120 for the Presidency; N18,081,478,935 for Tourism, Culture and National Orientation; N15,559,334,341 for Environment; N10,941,859,480 for Trade and Investment and N10,592,048,381 is for Communication Technology. From the sum of N13,965,664,092 approved for the eight federal executive bodies, N5,293,800,054 is appropriated for National Population Commission; N1,935,767,344 for Code of Conduct Bureau; N493,656,088 for Code of Conduct Tribunal; N2,207,213,456 for Revenue Mobilisation Allocation and Fiscal Commission; N1,125,005,114 for Federal Civil Service Commission; N740,477,185 for Police Service Commission and N2,167,931,068 for Federal Character Commission. Similarly, from the sum of N231,058,494,343 approved for Service Wide Votes, Senate approved the sum of N20.270 billion for Zaman Lafiya; N22 billion for operations – Internal – for the Armed Forces; N9.6 billion for payment to Nigerian Army Quick Response Group, including arrears; N5 billion for payment of outsourced services; N2.3 billion for entitlements of former presidents/heads of state and vice presidents/chiefs of general staff. Also, the sum of N5.5 billion was approved for Employees’ Compensation Act – Employees Compensation Fund; N17.5 billion for general election logistic support; N17,397,993,277 for

contingency; N6 billion for country’s contribution to West African Examination Council (WAEC); N4.5 billion for assessed contribution to African Union and others. The Upper Chamber further approved N5 billion for margin for increases in costs; N11 billion for external financial obligations; N3,099,600,000 for recurrent adjustment; N38,987,017,746 for public service wage adjustment for MDAs (including arrears of promotion and salary increases) while N11.755 billion is for improved remuneration package for the Nigerian Police. The sum of 60,251,158,887 was earmarked for payment into the redemption fund, which is 15 per cent of total personnel cost); N18 billion for arrears of 33 per cent increase in pension rates; N3.750 billion for arrears of police death benefits (2004-2010); N14,690,036,516 for Group Life Insurance for all MDAs, including DSS; N1 billion for Armed Forces enhanced retirement benefits of Commodores and above; N2.995 billion for severance benefits of Delta Steel Company/pension pay-off; N3,544,110,811 for NHIS (military retirees), and N36 million for administration and monitoring of (OHCSF) Group Life. From the total sum of N63,281,093,786 appropriated for presidential amnesty programme, the stipends and allowances of 30,000 Niger Delta ex-militants will take N23.625 billion; N5,502,447,783 is for presidential amnesty operational cost; N34,153,646,003 for reintegration of transformed ex-militants while reinsertion/transition safety allowances for 3,642 ex-militants (phase 3) got zero allocation. According to the report, the sum of N498,428,999,699 was set aside for capital expenditure of various ministries, departments and agencies (MDAs) in addition to the sum of N144.420 billion as capital expenditure in statutory transfers. Addressing journalists after the passage of the Bill, the Chairman, Senate Committee on Appropriation, Senator Ahmed Maccido, noted that the Senate and the House of Representatives had no reason to meet for harmonization of the budget because the two Chambers worked together while tinkering with the document, stating that they passed the same version with the lower House.

Travel Advisory

WEDNESDAY, APRIL 29, 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

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NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Xenophobia: ICC set to probe Zuma, Zulu king

lJonathan suspends permanent secretary l Nigerians are not targets, says minister Chukwu David, Anule Emmanuel and Tunde Oyesina

he International Criminal Court (ICC) has made its intention known to probe the xenophobic attacks against Nigerians and other African citizens in South Africa. The decision to probe the attack was sequel to a petition written by SocioEconomic Rights and Accountability Project (SERAP). SERAP's decision was contained in a statement issued by SERAP yesterday and signed by its Executive Director, Adetokunbo Mumuni. SERAP had, in a petition dated April 23 and sent to the Court, requested the Prosecutor, Mrs. Fatou Bensouda to use her “good offices and position to investigate allegations of hate speech by the Zulu King, Goodwill Zwelithini, which has resulted in killing, violence and discrimination against Nigerians and other African citizens living in South Africa, as well as the complicity/ negligence of the country’s law enforcement agencies to prevent these crimes against civilian population.” ICC had, in its response dated April 28, and signed by M.P. Dillon, Head of Information and Evidence Unit of the Office of the Prosecutor, indicated its readiness to look into the petition. "We will give consideration to this communication, as appropriate, in accordance with the provisions of the Rome Statute of the International Criminal Court. As soon as a decision is reached, we will inform you, in writing, and provide you with reasons for this decision," she stated. In the petition, SERAP had urged Bensouda to bring to justice anyone who is responsible for these international crimes prohibited under the Rome Statute of the International Criminal Court. As fallout of the diplomatic row, President Goodluck Jonathan has sent the Permanent Secretary in the Ministry of Foreign Affairs, Ambassador Danjuma Sheni, on suspension with immediate effect. New Telegraph confirmed from Presidency sources that the president’s decision followed the controversy that trailed the purported recall of Nigeria's envoy to South Africa and the denial by the presidency that the envoy was not recalled.

A Presidency source, who pleaded anonymity confirmed to our correspondent that President Jonathan was neither informed, nor put in the picture before the Foreign Affairs Ministry announced the recall of the South African envoy on the ground of xenophobic attack in that country. The source said at a meeting the president held with the Foreign Affairs Minister, Aminu Wali, and other top government officials which lasted till early hours of Tuesday, Jonathan was said to have been furious over the diplomatic embarrassment the ministry had caused Nigeria. It was learnt that President Jonathan was particularly angry that only recently, the ineptitude of the Foreign Affairs Ministry was displayed, when a phone call was said to have been exchanged between the King of Morocco and himself which was refuted first by the monarch and later by the Nigerian government. The suspended Permanent Secretary, according to the source, was first issued a query before he was suspended, while another permanent secretary was directed to replace him with immediate effect. "President Goodluck Jonathan has suspended the Permanent Secretary in the Ministry of Foreign Affairs, Ambassador Danjuma Nanpon Sheni for causing him the embarrassment. "The minister himself would have been fired, if not because we have just one month to go. In less than two months, they had embarrassed the government. "They did the same mess in the Morocco saga. They were issuing statements without the president's approval," the source added. Meanwhile, the Minister of Foreign Affairs, Ambassador Aminu Wali, has explained that Nigerians were not the targets in the xenophobic attacks. Wali made the explanation when he and the Minister of State for Foreign Affairs, Senator Musiliu Obanikoro appeared before the Senate Committee on Foreign Affairs to intimate the lawmakers on the situation in South Africa concerning the attacks. Responding to questions from the senators, Wali noted that Nigerians in South Africa suffered minimal losses in the attacks allegedly instigated by the Zulu King, pointing out that the South African assailants targeted the

Ethiopians, Zimbabweans and the Malawians. Wali noted that the South African Human Rights Commission had commenced investigation into the incident. He said that only two Nigerians were wounded and hospitalised while two families including six women and eight children were displaced in the crisis. He also said that five

shops belonging to Nigerians were looted. The two Nigerian envoys in South Africa present at the meeting were Mrs Uche Okeke and Martin Cobham. In another development, the South African Government yesterday distanced itself from a scathing statement issued by international relations spokesman, Clayton Mony-

ela, following the recall of Nigerian diplomats from Pretoria. At a media briefing in Pretoria, Minister in the Presidency, Jeff Radebe, stated that Monyela’s view “is not an official position of the South African government.” “Our relations with the Federal Republic of Nigeria are very cordial,” the minister said.

Monyela on Sunday termed the decision to recall Nigeria’s acting high commissioner to Pretoria “unfortunate” and “regrettable”. But Radebe insisted relations between South Africa and Nigeria were “very cordial” because President Jacob Zuma has an invitation to attend the swearingin of president-elect, Muhammadu Buhari.

L-R: Director General, Bureau of Public Enterprises (BPE), Mr. Benjamin Dikki; member, Technical Committee on National Council on Privatisation, Mr. Emmanuel Ijewere; Nitel/MTEL Liquidator, Chief Olutola Olatunde and Chairman, NATCOM Consortium, Dr. Olatunde Ayeni, during the formal handover of NITEL/MTEL assets to NATCOM Consortium in Abuja…yesterday. PHOTO: TIMOTHY IKUOMENISAN

APC lifts embargo on AIT’s coverage of Buhari lAction dangerous for democracy, says PDP

Johnchuks Onuanyim and Onyekachi Eze Abuja

he All Progressives Congress (APC) yesterday overruled the directives of the Presidentelect, General Muhammadu Buhari, on media coverage of his activities. Buhari's security aides had, on Monday, bared the African Independent Television (AIT) from coverage of his activities, citing family and ethical issues as reasons. But 24 hours later, the APC overruled that decision, stating that all media houses have the right and privilege to cover the activities of the President-elect. In a statement issued in Abuja by the APC National Publicity Secretary, Alhaji Lai Mohammed, the party said the incoming Buhari administration will not discriminate against any media organisation, irrespective of its role during the electioneering leading up to the recent polls. Mohammed, however,

enjoined all media organisations to observe the highest level of professional standards in carrying out their duties. He said: "There is a Code of Ethics guiding the practice of journalism in Nigeria, and this demands every journalist to ensure a strict adherence to the highest levels of ethics and professionalism in carrying out their duties. "There must be repercussions, within the realms of the law, for media organisations which have wantonly breached the Code of Ethics of the journalism profession and turned themselves to partisans instead of professionals. But such repercussions will not include barring any accredited media organisation from covering the activities of the President-elect.” But the Peoples Democratic Party (PDP) described as unacceptable, the move to bar the AIT from carrying out its professional duties. The PDP said the suppression of the media

under any guise portends danger for the nation’s democracy. In a statement by its National Publicity Secretary, Olisa Metuh, PDP noted that after carefully studying the defence posited by Buhari’s campaign spokesperson "as well as the smokescreen statement by the APC to cover and mitigate his anti-media posture, the PDP and indeed all lovers of democracy are persuaded that the action was not only unjustifiable, but also unconstitutional and completely against the spirit of liberty and the rule of law in a democracy." Metuh said that it has nurtured the nation’s democracy in the past 16 years and therefore, cannot afford to fold its hands and watch the constitutional rights, media freedom and personal liberty of Nigerians, the basic tenets of democracy being demolished. “We ask; is this a beginning of the feared erosion of the freedom and personal liberty the media

and Nigerian citizens have been enjoying in the last 16 years under the PDP ledadministration? Has our dear nation finally fallen into the clutches of totalitarianism and impunity where government actions will be based on egocentric decisions and impulses of individuals rather than the rule of law? “While we assure the President-elect of our resolve to run a mature and responsible opposition based on issues, we are disturbed by this emerging development and reassure the Nigerian people that we will continue to stand with them on issues of democracy and freedom at all times. “Perhaps, we need to remind General Buhari that part of the challenge of his new position, even as President-elect is that he has lost his private life which is now subject to public scrutiny and media interrogation, as required of the custodian of the mandate of the Nigerian people," the statement added.

News

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

NATCOM takes over NITEL, to inject $1bn capital Abdulwahab Isa Abuja

he core investor in Nigerian Telecommunications Limited (NITEL), NATCOM Consortium, has proposed a fresh capital injection of about $1 billion to revamp the company. The new owner will, after clearing off the liabilities, unveil a new identity name, NATCOM Consortium Chairman, Dr Olatunde Ayeni, said yesterday in Abuja after a formal handover of NITEL assets to him. NITEL assets handed over to him included the certificate of operation, international gateway lines and national carrier as well as share certificates while the Nigerian Mobile Telecommunications (MTEL) assets handed over comprise digital mobile licence and spectrum. “Within a matter of months, we will launch our new brand because work is progressively going on as I am speaking to you now. If you look at the process that has been followed, it is very unlikely that we will retain the name, NITEL,”

he stated. However, Ayeni expressed reservations that NITEL's takeoff will not be easy because of the already saturated telecoms market. “I can assure you, technology has moved further from where it used to be. But we will bring to you the latest technology that you can find anywhere in the world,” he said. According to him, the task ahead remains daunting and it leaves no room for frivolous celebrations and chest beating as the moribund assets require an injec-

tion of over $1 billion to revamp and recreate the new telecoms company. Also, Vice-President Namadi Sambo recalled the tortuous road to privatising NITEL and lauded President Goodluck Jonathan for his support which has brought the telecoms’ privatisation to a successful completion after a series of failed attempts. Sambo, represented by Mr. Emmanuel Amadi, said: “This handover is a culmination of years of painstaking efforts by the National Council on Privatisation (NCP)

and its secretariat, the Bureau of Public Enterprises (BPE), the liquidator, the Federal Ministry of Communications Technology and other key stakeholders to increase competition in Nigeria’s telecommunications industry.” Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki, said the liquidation process took over the non-core assets of NITEL and sold them and part of the proceeds was used to settle staff entitlements. “This liquidation process is purely for

the business of NITEL and MTEL and there will be no more assets that will be sold. And all the assets have now been handed over to NATCOM for them to go ahead and run the business of telecommunications in the country,” he added. He listed the challenges, which would have marred the transaction to include outstanding unpaid terminal benefits of ex-staff of NITEL and MTEL, arrears of salaries of retained staff and outsourced security and huge accumulated unpaid licence

and other fees due to Nigerian Communications Commission (NCC). “But with the active support of the president and the vice-president, we were able to resolve these challenges. We are indeed very grateful to Your Excellencies for promptly resolving these problems,” he said. NATCOM emerged the preferred bidder with $252.22 million bid price following the disqualification of NETTAG Consortium as a result of its failure to submit a bid bond together with its technical proposal.

TODAY’S WEATHER FORECAST LAGOS

ABUJA

33o C 27oC Thunder Storms

28 C

19 C

Partially Cloudy

PORT HARCOURT

KANO

25oC 19oC Storm

39oC

18oC

Sunny

ENUGU

36oC

24oC

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IBADAN

CALABAR

MAIDUGURI

ONITSHA

34o C 24oC Thunder Storms

30oC 24oC Storm

42oC 21oC Sunny

36o C 24oC Thunder Storms

L-R: Business Executive, Personal Banking, Ecobank, Mr. Kingsley Umedia; Group Executive, Ecobank Transnational Incorporated, Mr. Patrick Akinwuntan; Deputy Managing Director, Ecobank, Mr. Tony Okpanachi and Managing Director, Jetlink Limited, Mr. John Nwosu, at the Ecobank Advantage Banking media launch in Lagos… yesterday. PHOTO: SULEIMAN HUSAINI

Jonathan orders payment of oil importers' debts CONTINUED FROM PAGE 1

est and foreign exchange differentials. "The president has ordered the Coordinating Minister for the Economy to raise SDNs and pay part of the interest on the fuel subsidy and we believe that works must have commenced on this order. His order was based partly on a recommendation to him by the DSS. "The DSS has summoned all the major stakeholders in the oil importing business, including the MOMAN man, after he addressed the press suggesting that there would be fuel scarcity if their debts are not paid. "We believe that the advice given to Mr. President must have been informed by thorough interrogation of these stakeholders," the source

said in a telephone interview. The president's order is a move to stop the last minute embarrassment, which the fuel scarcity could cause his government. Olawore declined to comment on his invitation by the DSS when New Telegraph called him on the phone yesterday. He, however, blamed the return of long fuel queues in Lagos and Abuja on the "tight corner," which the government's debts to marketers have put them. Olawore had also stated in a letter to OkonjoIweala that there would be potential reduction in the operations of importers with the delay in payment of fuel subsidy debts. According to him, the outstanding debt, totalling N256.2 billion, in-

clude "N215,868,237,459 on Outstanding Foreign Exchange and Interest; N21, 920,240,908.23 subsidy on Batch T of 2014; N8,607,109,593.82 subsidy on Batch U of 2014; N6,873,232,365.66 subsidy on Batch A of 2015 and N2,911,139,639.70 subsidy on batch B of 2015." He said the subsidy debts were "further compounded by the combined effects of the devaluation of the naira, higher inflation and increase in lending rates." Copies of the letter were given to the DSS, Director General, Debit Management Office (DMO) and the Executive Secretary, Petroleum Products Pricing Regulatory Agency (PPPRA). Olawore said: "Unfortunately, our members are no longer capable of enduring this commercial hardship and we

foresee a reduction in activities at retail outlets as there would be significant scale down in petroleum products supply in the country due to cash constraints. Financial institutions have put on hold extension of further import credit lines to our members as a result of the amount due and our members are unable to finance imports out of their own cash flow.” But amidst the worsening fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that it has enough stock of petrol to service the country for 27 days at a national consumption rate of 40 million litres per day. It has also stepped up efforts to end the distribution challenges in the fuel supply system. The oil corporation, in a statement yesterday

in Abuja by its Group General Manager, Group Public Affairs, Mr. Ohi Alegbe, said it had sufficient stock of petrol at its coastal depots in Port Harcourt, Warri, and Calabar besides the stock being held in the national strategic reserves. It attributed the fuel scarcity to distribution hitch occasioned by the strike by the National Association of Road Transport Owners (NARTO) and the Petroleum Tanker Drivers (PTD) that have refused to lift petroleum products from the coastal depots in protest of the huge amounts they are being owed by major marketers. “We are, however, working towards a speedy resolution of the issues to ensure a hitch-free distribution of products across the country,” NNPC stated.

NEW TELEGRAPH WEDNESDAY, april 29, 2015

News

national

Buhari to attend G7 meeting in May Johnchuks Onuanyim Abuja

he PresidentElect, Gen. Muhammadu Buhari, will attend the meeting of G7 countries in Berlin, Germany in May. The German Ambassador, Michael Zenner, revealed this to journalists at the Defence House in Abuja after a closed door meeting with Buhari. He said that he handed over

the letter of invitation from the German Chancellor, Angela Merkel to him. Also, the Director of Media and Publicity of the All Progressives Congress Presidential Campaign Organisation, Mallam Garba Shehu, confirmed the invitation to the media and stated that the meeting is scheduled for 8-9 of next month. Members of the G7 are: Germany, Japan, Canada, USA, France, Italy and Great Britain.

Zenner, speaking to journalists, said, "I am here to congratulate the President-Elect, Gen. Buhari on his election and handed over to him the letter from the German Chancellor inviting him to Germany. "We have a very deep and intense relationship with Nigeria and there are lot of areas where we can deepen our relation and develop them further such as in the area of economy, energy among others.

"We have a bi-national commission with Nigeria and we are one of the countries with which Nigeria has this Bi-National Commission and it covers the whole range of political, economic and security areas. There are many areas in which we can move further and deepen our very close cooperation” Also the Ambassadors of France and Canada visited the President-Elect. The French Ambassador, Denys Gauer, in

his interaction with the media on his visit to Buhari said, "As the French Ambassador, I came to congratulate the President-elect for his brilliant achievement. His election is an enormous achievement for Nigeria and the democratic development of Nigeria. "The people of Nigeria have expressed its confidence in the Presidentelect. The challenges of Nigeria are enormous and I have come to wish him success.

L-R: Minority Leader, House of Representatives, Hon, Femi Gbajabiamila; Chairman, House Committee on Business and Rules, Sam Tsokwa and former Clerk of the National Assembly, Niyi Ogunyomi, during a session on Understanding Bills and Resolutions at the on-going induction training course for new legislators in Abuja…yesterday. PHOTO: ELIJAH OLALUYI

Parliamentary resolutions not advisory — Reps Philip Nyam Abuja

he House of Representatives has stated that resolutions of the parliament are not mere opinion of lawmakers or mere advisory exercises. Chairman of the House Committee on Rules and Business, Hon.

Albert Sam-Tsokwa, made the declaration in a paper he presented at the ongoing induction course for members-elect of the National Assembly. Delivering a paper titled "understanding bills and resolutions," Sam-Tsokwa said it is "highly bankrupt" for the president to remark that resolutions from motions passed by the National

Assembly were mere advisory. President Goodluck Jonathan was reported to have described resolutions of the House in the past as "mere advisory" and not binding on him to act on. Earlier, the Minority Leader, Hon. Femi Gbajabiamila, who was chairman of the session, noted that lawmaking was a

tedious process, which required time. Meanwhile, Speaker of the House, Hon. Aminu Waziri Tambuwal, has called for a review of the Environmental Impact Assessment (EIA) legislation in the West African region. Tambuwal made the call while declaring open the international summit on enhancing legis-

Ex-militants to Buhari: Don't Senate presidency: Students make case for North-East take us for granted Donald Ojogo Abuja

ith just 30 days to the May 29 handing over, ex-militants from the oil-rich Niger Delta have threatened to return to the creeks if the incoming administration contrived policies aimed at marginalising the region for its support for President Goodluck Jonathan in the last presidential election. They warned the president-elect, Major

General Muhammadu Buhari(rtd) not to take them for granted. The group of exmilitants, Niger Delta Salvation Front (NDSF) besides, alleged that international conspiracy forced their kinsman, Jonathan out of power even as they accused the chairman of the Independent National Electoral Commission (INEC), Professor Attahiru Jega of playing a regional and ethnic card in the just concluded polls.

Ibraheem Musa Kaduna

malgamated Northern Nigerian Students Forum (ANNSF) has advised the leadership of All Progressives Congress (APC) to zone the position of Senate Presidency to the NorthEast as a way of balancing the political equation in the next administration. President of ANNSF, Comrade Yahaya Ayuba, who made the appeal in a press conference,

yesterday, said that the zone should be favoured instead of the NorthCentral which had held the Senate Presidency for about eight out of the 16 years of the present democratic rule. The students’ body, which endorsed Senator Ahmed Lawal from Yobe State, said that their choice was based on his clean records and the sound moral standing which he has displayed in his previous stewardship at the National Assembly.

lation for the effective implementation of Environmental Impact Assessment (EIA) in West Africa organised by the House Committee on Environment. He expressed concerns over the myriad of environmental challenges facing Nigeria and other countries within the subregion, including oil pollution, flood and erosion.

NLNG to fund N4.5bn Bonny school

igeria LNG Limited has signed an agreement guaranteeing funding estimated at N4.5bn towards the development of a new model secondary school on Bonny Island, Rivers State. The agreement, cosigned with the Rivers State Government and Tianjin Energy Resources Limited, provides the guiding framework for building infrastructure necessary to deliver quality education at the school. By the tripartite agreement, NLNG’s funding will be phased, based on construction milestones of building and equipping the new school. Bonny Island is home to NLNG’s six train operations which has a nameplate capacity to produce twenty-two million tonnes per annum (22mtpa) of liquefied natural gas that is shipped to buyers in markets across the world. The company’s support is part of its wider Corporate Social Responsibility in Bonny where, among other initiatives, NLNG invests in capacity building programmes, provides health-care services and has built roads. NLNG also supplies uninterrupted power to inhabitants and businesses through a rural electrification project such that Bonny is now often described as the only place in Nigeria enjoying around-the-clock power supply. Across Nigeria, the company has long distinguished itself for promoting the Nigeria Prize for Literature and the Nigeria Prize for Science and making cooking gas available and affordable to the mass of Nigerians. “NLNG has always taken enormous pride in our many programmes that have furthered the development of Bonny, our other host communities and the wider Nigeria."

FCTA approves domestication of trade, investment policy Yekeen Nurudeen Abuja

n order to accelerate the volume of trade, investment and industrial development of the Federal Capital Territory, the FCT Minister, Senator Bala Mohammed has disclosed that FCT Executive Committee has approved the of domestication of FCT Trade and Investment Policy. The Minister reiterated that the overall objective of the domestication policy was to accelerate the

pace of industrial development by radically increasing value-added at every stage, increase total factor productivity by pursuing knowledge and skill for intensive production renewal for sunset industries and encourage innovation. He remarked that in the short term, the policy seeks to increase the number of the manufacturing companies in the FCT; work on manufacturing enterprises that face difficulties with a view to reviving those with good prospects.

News

WEDNESDAY, april 29, 2015 NEW TELEGRAPH

national

Afe Babalola to meet Fayose, Omirin, others Adesina Wahab Ado-Ekiti

L-R: MTN retailer, Morenikeji Agbaje; Sales and Distribution Executive, MTN, ‘Tsola Barrow; General Manager, Business Development, Kolawole Oyeyemi and MTN retailer, Patrick Chukwuma, at the unveiling of MTN TruTalk Win-a-Home promo for retailers in Lagos … yesterday. PHOTO: SULEIMAN HUSAINI

ASUU wants Buhari to honour agreement, MoU with FG Sola Adeyemo Ibadan

he Academic Staff Union of Universities (ASUU) has urged the incoming administration of General Mohammadu Buhari, to honour the agreement and the Memorandum of Understanding the outgoing administration had with its members. While urging the administration to focus on

education in order to address the various issues affecting the country, Professor Olusegun Ajiboye, Chairman ASUU, University of Ibadan, said that the unresolved ASUU's demands from the Federal government with the outgoing administration of President Goodluck Jonathan must be resolved. According to Ajiboye, who is also the South West zone coordinator of ASUU, after suspending the strike in December

2013, the Federal Government was only able to fulfil parts of the agreement and Memorandum of Understanding, for example the release of N200b to all public universities in Nigeria as 2013 intervention fund. To him, it was surprising that, "since the release of 2013 intervention fund, government has not been able to release any fund again. Ajiboye also accused the Federal Government of not doing anything

about the welfare of staff in the various campuses of Nigerian universities after the suspension of ASUU's strike in 2013, saying "since then, Federal Government has been able to pay just part of earned academic allowances of our members, while it promised to pay the balance as soon as calculation was completed. Up till now, nothing has been done and members are still waiting for their balance", he told New Telegraph.

Sambo hails Islamic banking in Nigeria Anule Emmanuel

ice President Namadi Sambo has lauded the idea of Islamic banking, describing it as good for the future. The Vice President stated this yesterday when he received a delegation of the board of Jaiz Bank, who paid him a courtesy call at the presidential villa. While commending the Board and Management

for the feats recorded since coming on board, Sambo identified with the aspirations of the Bank. “Jaiz Bank is a bank I have known overtime and I have been promoting it even though I am not a shareholder”,he said. The Vice President noted the interest the Bank has shown in dealing with the National Emergency Management Agency (NEMA) and assured of the readiness of the agency to deal with

the bank if it follows duel process, while promising to do their utmost best to assist the bank. Earlier in his remarks, the Chairman of Jaiz Bank, Umar Mutallab, congratulated President Goodluck Jonathan for successfully steering the ship of the nation in the last five years. The chairman added that in spite of the victory of the opposition party at the polls, the present administration needed to be

congratulated and history would continue to record them as great statesmen. The business mogul also expressed the appreciation of the bank for the support it has been receiving from the Presidency as well Ministries, Departments and Agencies of Government since they came on board. “We are only two years old and we have recorded profitable operations which is very difficult for a new bank.

APC’s victory in Imo, a strong signal for S/East, says Group Johnchuks Onuanyim Abuja

social political group, South East Revival Group (SERG) has described the governorship victory of All Progressives Congress in Imo State at the last Saturday election as a strong indication of South East involvement in APC. The group in a statement made available by its National Coordinator,

Chief Willy Ezugwu, said Governor Rochas Okorocha's victory was heroic for the South East as being the only state in the geopolitical zone with the government at the centre had kept the region in the kitchen cabinet of those to be led by Gen. Muhammadu Buhari. Ezugwu described the victory as the resolve of Imolites to put political buccaneers in the state to shame, noting that a new dawn has set in Imo State.

"As we congratulate Owelle Rochas Okorocha and the APC over their victory after the supplementary poll, it is also rife that we commend the resilience of the Imo people in jettisoning political anxious leaders and pitching tent with the political leader they know. "Given that we are not surprised at the results in Imo following Rochas' track record of performance in the state, the governor's foresight in

ensuring that Imo got with the central government makes him easily as the pride of Ndigbo as he clearly remains the most prospective and promising Igbo leader from the southeast zone. "We are sure that this economic term of Owelle would even be more fulfilling than the monumental achievements he recorded in his first term. He has indeed set Imo and the Southeast in general on a golden path."

s a way of resolving the political impasse in Ekiti State between the State Governor, Ayo Fayose and the All Progressives Congress (APC) members of the House of Assembly, legal luminary, Chief Afe Babalola (SAN) is scheduled to meet the parties on Thursday. The meeting is to hold at the Afe Babalola University, Ado-Ekiti (ABUAD). However, Fayose has expressed commitment to the peace move initiated by elders in the state led by Aare Babalola. Fayose said in a statement personally signed by him in Ado-Ekiti yesterday evening that he was committed to the peace meeting scheduled to hold on Thursday at the Afe Babalola University, Ado-Ekiti, adding that; "the peace of Ekiti State is far and above all other interests and therefore, everyone should support

the elders peace efforts." The statement read: "Ekiti elders under the leadership of our highly respected legal icon, Aare Afe Babalola (SAN) called a meeting between the two factions of the State House of Assembly to resolve politically the crisis in the House of Assembly and I, as the state governor, does not have any objection because the peace of Ekiti is far and above all other interests. "The meeting is scheduled to hold at Afe Babalola University, Ado-Ekiti at 11am on Thursday. "I therefore call on everybody to support this peace move and no one should do anything to undermine it. "Knowing how agitated and concerned the people of Ekiti have been on this crisis, I wish to urge our people to give this peace effort a chance and I urge all security agencies in the state to see to it that adequate security is provided before, during and after the meeting."

Ishaku receives certificate of return Sabiu Mustapha JALINGO

he Independent National Electoral Commission, INEC, yesterday issued the Taraba State governor-elect, Arc. Darius Dickson Ishaku and his running mate, Alhaji Haruna Manu, with certificates of return. Presenting the certificates to them, state Resident Electoral Commissioner (REC), who

was represented by the Administrative Secretary of the commission, Ahmed Baba, described Ishaku's triumph in the governorship election as the will of Almighty God. In his speech after collecting the certificate of return, Ishaku thanked Tarabans for coming out enmasse to overwhelmingly cast their vote for him in the April 11 and the Saturday’s supplementary elections.

ITF students protest lack of facilities Amadi Nnamdi Abuja

undreds of Students of Model Skills Training Centre, an institution run by the Industrial Training Fund (ITF) yesterday disrupted activities at the Corporate headquarters of the institution located in Abuja when they stormed the complex. As at 5.pm yesterday, when NEW TELEGRAPH visited the ITF complex, the entrance was filled with students who locked the gate and prevented movement in and out of the complex, demanding for immediate response from the management of ITF to their complains, while scores of policemen were

also spotted within the scene. According to one of the students who spoke on behalf of the protesting students, George Nosakhae, since 2011when ITF started the MSCTC program, no student has graduated from the institution which is supposed to award them an internationally recognized certificate at the completion of the program which is supposed to be a two year duration course. He lamented that “a two year program has become a life time program and we are subjected to all kinds of payments.” They also accused the ITF management of non payment of their allowances and lack of necessary equipment to facilitate their training.

NEW TELEGRAPH WEDNESDAY,APRIL 29, 2015

News

NATIONAL

Capital market operators set agenda for Obi

ome capital market operators yesterday urged the new Chairman of the Securities and Exchange Commission (SEC), Mr Peter Obi, to pursue policies that would reinvigorate investors’ confidence. They told the News Agency of Nigeria (NAN) in separate interviews in Lagos that investors’ confidence should be the first priority of the new chairman and the substantive Director-General, Mr Mounir Gwarzo.

Mr Ariyo Olushekun, the immediate past President, Chartered Institute of Stockbrokers (CIS), who commended the appointments, said that the two should work on ways to increase investors’ confidence, Olushekun said that friendly policies should be introduced to increase local investors’ participation in the market, adding that more people would embrace the market with the right environment. He said that the new

chairman should use his influence as an ex-governor and banker to bring new investment resources to the market. Olushekun also urged the new management to map out development strategies that would enhance new listings and enhance return on investments on the exchange. Mr Sehinde Adenagbe, the Managing Director, Standard Union Securities Ltd., said that both personalities were “jolly good fellows with what it takes to

leverage the market’’. Adenagbe expressed optimism that the market would experience better outlook under the new management, adding thatconfidence would also be enhanced. He said that the market would experience more activities with enhanced confidence. “It is my belief that under the duo, the market will experience a better outlook,” he said. Adenagbe said that the two personalities must car-

ry all stakeholders along by working as a team and avoid witch hunting. He said that they must also work as a team with staff and ensure strong partnership with the Nigerian Stock Exchange (NSE) for market growth and development. Mr Bayo Adeleke, National Secretary, Independent Shareholders’ Association of Nigeria (ISAN), said that a lot was being expected from the two personalities ,because they are both practitioners in the capital market. Adeleke said that they must bring their years of experience to enhance transparency and development of the market. “The new management

should pursue reforms that will make the market more robust, attractive to both local and foreign investors,” he said. He said that they must accelerate the demutualisation of the exchange and ensure zero tolerance to infractions by strict punishment of any market offender. Mr Boniface Okezie, President, Progressive Shareholders Association of Nigeria (PSAN), said the appointments would move the market forward. Okezie, who lauded the Federal Government for the appointments, said that it was a good decision, considering the experiences of the personalities.

FG declares May 1 public holiday Johnchuks Onuanyim Abuja

Former Anambra State Governor, Mr. Peter Obi (left) and his wife, Margaret, at the night of tributes for late Mr. Oronto Douglas, at Eko Hotel, Lagos…yesterday

he Federal Government has declared Friday, May 1 as Public Holiday to mark the 2015 Workers’ Day. The Minister of Interior, Abba Moro made the declaration on behalf of the Federal Government, as he congratulated all Nigerians for their resilience and

commitment in the face of the challenges of daily living and enjoined them to sustain the support for President Goodluck Jonathan in his efforts to build a stable, peaceful and economic vibrant nation. The statement, from the Ministry’s Permanent Secretary, Abubakar Magaji, states: Moro wishes all Nigerian Workers a joyous and peaceful celebration.

Funsho Williams: Court to hear Tinubu, NLC backs probe of NNPC audit report Yekeen Nurudeen others on substituted service Abuja

Akeem Nafiu

urther hearing in a suit filed by one Bashir Junaid, a detainee over the murder of a former governorship candidate of the Peoples Democratic Party (PDP) in Lagos State, Funsho Williams, against a former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu and ten others continues today before Justice Rita OfiliAjumogobia of a Federal High Court in Lagos. Junaid was detained after the politician was murdered on July 27, 2006 at his Dolphin Estate residence in Ikoyi, Lagos, but was later released. In the suit, Junaid is seeking for an order of mandamus to compel the Inspector-General of Police, to re-open investigations into Funsho Williams’ murder. The plaintiff is also praying the court to compel the Attorney General of the Federation to direct the appropriate organ in the Criminal

Justice Administration in the country to commence prosecution of the alleged suspects in the murder of Engineer Funsho Williams. He is also asking for a declaration that all defendants in the suit should pay him compensation for his illegal detention and the psychological trauma he suffered for a period of over one year under the unmitigated actions of the defendants both jointly and severally

and for their acts of commission and omission over the said illegal detention and his unlawful incarceration over the murder of Williams. The plaintiff is consequently asking for a claim of N5 billion as both compensatory and exemplary damages against the eleven defendants for their actions or inaction over his illegal detention and dehumanization over the murder of Williams.

he Nigeria Labour Congress (NLC) yesterday described the release of the forensic audit report of Nigeria National Petroleum Corporation (NNPC) on the missing $20billion oil fund and the intended probe of the report by President-elect, General Muhammadu Buhari as a healthy development for the country. NLC President, Ayuba Wabba, while answering questions from journal-

ists in Abuja on the forensic audit report carried out by the PricewaterhouseCoopers audit firm, said the release of the document was long over due. He said that the document, which is now in the public domain, would clear the air of all kinds of contradictory information making the round about the missing $20billion oil money. Wabba said that the proposed further scrutiny of the document by General Buhari would allow an independent assessment into it with the

Jonathan appoints Akpanyung NPC Secretary Amadi Nnamdi Abuja

resident Goodluck Jonathan, has approved the appointment of Mr Bassey Okon Akpanyung as the Secretary to the National Planning Commission (NPC). This development is contained in a press statement issued yesterday by the Commission’s Head of Informa-

tion, Salisu B. Haiba. According to the release, the appointment which was conveyed via a letter dated 27th April, 2015, signed by Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim, GCON took effect from April, 14, 2014 “I am pleased to inform you that the President of the Federal Republic of Nigeria, Goodluck Ebele

Jonathan, GCFR, has approved your appointment as Secretary, National Planning Commission for a first tenure of five (5) years in accordance with the Sections 6 (1) and 8 (1) of the National Planning Commission Act, 1993,” the letter stated. Akpanyung has been the Acting Secretary to the Commission since October 2014. He was born in 1956 in Akwa Ibom State

and holds a Bachelor of Science Degree of the University of Ibadan in 1991, and a Master of Arts Degree in Economic Development and Planning (IDEP), Dakar - Senegal in 1993. He joined the service of the NPC in 1982 as Planning Officer Grade II and rose to the position of a Director in the Commission. He had served the Commission in almost all professional departments.

view to put issues in right perspective and also forestall a future re-occurrence. The NLC, according to him, has also directed its economists and financial experts to study the document for the Labour to take its stand on the matter. His words” For me, I should say that is what is expected because with the Freedom of Information Bill, no information should be hidden from any Nigerian and, therefore, it would be an opportunity for all of us as Nigerians to scrutinize the documents and draw our conclusions and also make our observations. It is the first step; the first step is for us to get the document and then look through it, because it is our right as Nigerians with the freedom of Information. It is long overdue for this document to be made available to Nigerians. The second step is for us also as Nigerians to scrutinize the document whether it has passed through the normal process and whether also it has satisfied our curiosity because a lot of information had gone round about the missing fund in NNPC.

WEDNESDAY,APRIL 29, 2015 NEW TELEGRAPH

Metro WICKED COUSIN

A 27-year-old man says he sold a schoolgirl for N10,000 to start a business John Edu and Samuel Tafa

suspected kidnapper has explained why he sold his 15-yearold cousin, identified as Precious Okoro, into sex slavery. The suspect, Kelvin Okorie, 27, was tracked and arrested by detectives attached to the Special Anti-Robbery Squad (SARS), Ikeja, Lagos State after 11 months of chasing him and his gang members across different African countries. Aside from Okorie, other members of the gang now in police custody are Innocent Onyekwe, 38, Ugwu Christopher, 37, Christian Mercy, 19, and Ogbonna Njioku, 20. Okorie confessed that he sold Precious to be able to raise money to start his own business. The state Commissioner of Police, Mr Kayode Aderanti, said that the victim, residing at Ajah with her parents, was on her way back to school, a boarding facility in Ikenne, Ogun State when she was kidnapped. He said: “The kidnappers after two months of holding the victim hostage contacted her parents, using various telephone numbers. They demanded for various sums of money ranging from $30,000, N200,000 and N30,000 as ransom. They also furnished different account numbers as details for receiving the ransom.” Aderanti added that numerous suspects were arrested but the breakthrough came when a decoy team of SARS led by Officer in Charge

Muritala Ayinla

agos State Government yesterday said it would soon reactivate enforcement on the prohibition of commercial motorcycles also

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

‘Why I sold my 15-yearold cousin as sex slave’

Okorie (right) and Njioku

of SARS, Abba Kyari, arrested Okorie. He said: “Through him, contact was established with the gang’s member in Libya which led to the safe return of the victim to Lagos on April 24, 2015, almost a year after the abduction of the teenager.” Recalling how she was abducted, Precious said that

she was going back to school when she ran into some cult members who thought she overheard their conversation. The schoolgirl said they beat her to the state of coma and even attempted to rape her. One of them, however, stopped others from raping her. She said: “The guy, Seun,

took me to his home and said that I should stay with him for two weeks until I was fit to go. He said I shouldn’t call anybody.” Precious stayed with Seun for two weeks until the fateful day they both went out to buy drugs. It was then she ran into her cousin. She narrated her ordeal to

Okorie, who took her to his house at Alaba. According to her, when they got there, they met Daniel, Okorie’s friend who used to travel and work in Libya. Okorie said: “The last I saw Precious, she was just a little girl. That night we both went to my house. Daniel was there when she narrated her ordeal. After listening to her, Daniel suggested she should go with him to Libya. I was happy I would have somebody overseas. We all went to Alaba. It was there that Daniel gave me N10,000.” He added that he lied to Precious that he would tell her mother that she had gone to Libya with his friend, Daniel. The suspects said they had a common friend, Njioku, a trader in Abia State, who had a brother in Libya. According to Okorie, Daniel travelled to Libya, sold Precious to Njioku’s brother and left for Dubai. Okorie said: “When Precious got to Libya, she called me that she had been forced into prostitution. I told her to look for a way to escape. “I was scared of what I had done.” Stating his own side of the story, Njioku said he did not know anything about the matter until he was arrested. He said: “I was approached by Kelvin (Okorie) and Daniel to give them my brother’s number who lives in Libya. I did. Two days later, Daniel called me to tell me he has arrived in Libya.”

Lagos moves against Okada riders, illegal cab operators known as Okada riders and other unaccredited transport operators. Some Lagos residents have raised concerns over the return of the commercial motorcyclists on the prohibited 475 roads and bridges, which many believed is responsible for the increase in the accident rate in the state lately. But speaking at the annual ministerial press briefing, the Commissioner for Transportation, Mr Kayode Opeifa, said contrary to the speculation that the government had shifted grounds on the restriction of commercial motorcycles on major roads and

File picture of commercial motorcyclists on a Lagos road

highways for political reasons, the government would soon arrest violators of the traffic law.

The commissioner added that the government also said that it would inject additional 400 Bus Rapid Transportation (BRT) buses to the 154 currently running in the existing BRT corridors. He said: “We have not changed our position before, during or after the election. It is the media that are creating such perception about our position on traffic law. The police are part of the enforcement team and they can be encouraged to do more of enforcement of the laws.” Opeifa explained that Okada and tricycle also known as Keke Maruwa or Keke NAPEP were not part of the state pub-

lic transport policy but were allowed as stipulated by the Road Traffic Law 2012 Section. The commissioner disclosed that Governor Babatunde Fashola had directed relevant agencies to clamp down on all illegal operators. He said: “Those operating taxis with something on the top saying ‘taxi’ and those operating unpainted buses, their time is up. Our traffic management agency and Vehicle Inspection Service (VIS) have been directed by His Excellency to arrest anybody found operating a public transport without a proper licence.”

Metro 11

NEW TELEGRAPH WEDNESDAY,APRIL 29, 2015

Four cross-border bandits die in gun duel

IGP, Solomon Arase

Kunle Olayeni Abeokuta

en of the Special Anti-Robbery Squad (SARS) in Ogun State have shot dead four suspected

armed robbers who allegedly attempted to attack bureau de change operators at Itoku Market in Abeokuta. The policemen also arrested two members of the gang during a gun duel, which lasted about one

hour on Sunday. The state Police Public Relations Officer (PPRO), Muyiwa Adejobi, disclosed this yesterday while parading the two suspects at SARS office at Magbon, Abeokuta. Adejobi said the incident occurred under the newly constructed flyover at Itoku Market about 9:30pm on Sunday. The PPRO added that the suspected armed robbers were based in Ghana and often come into Nigeria to carry out their operations. According to him, those arrested, Adamu Bamako and Ibrahim Tanko, appeared to be foreign nationals. Adejobi said the suspects could not speak English. According to him, they only speak Hausa Language. The suspects, he added, did not have any fixed address and did not identify their states of origin. He said: “The SARS had

placed them under surveillance through information that we have gathered from different angles that these members of the syndicate are based in Ghana, Togo, because they are not Nigerians. “The SARS laid ambush for the syndicate. When they got to the scene, there was an exchange of gunfire. They engaged our men in gun duel that lasted for almost an hour which was so serious. “Four of them fell during the battle while two of them were fatally injured and were arrested. One of our men sustained injury and has been treated.” Adejobi told journalists that the two arrested suspects would be given medical treatment to enable the command to extract further information from them to assist in its investigation. He restated the commitment of the state Police Commissioner, Val Ntomchukwu, to providing adequate security for lives and property.

Two suspected robbers held in Enugu Uwakwe Abugu Enugu

en of 3 Police Mobile Force, Enugu State, have arrested two notorious armed robbery suspects whose gang had unleashed a reign of terror on the EnuguPort Harcourt Expressway. The Public Relations Officer, Mr Ebere Amaraizu, said yesterday that the policemen on duty at the Four Corner axis of Ozalla on Enugu-Port Harcourt Expressway, Enugu, arrested the suspects. He said: “On that fateful day, about 10.45pm, a trailer driver had sent a distress

call as hoodlums were on their nefarious activities on that expressway after Ozalla. Following this, operatives already stationed at Ozalla stop-and-search point raced to the point where they arrested two members of the robbery syndicate after a gun duel which left one of the suspects fatally injured.” Amaraizu said the suspects were overpowered and arrested while some of them believed to have been hit by bullets escaped with injuries. The PPRO gave the names of those arrested as Okechukwu Aghaebe of Nnenyi Umuleri Aghamelum Local

Policeman kills truck driver in Onitsha Eche Nwaobasi Nnewi

policeman guiding Sabmiller Nigeria Limited Onitsha, the makers of Hero Lager Beer, yesterday shot dead a truck driver working for the company. It was gathered that the policeman killed the driver on the premises of the brewery in Onitsha, Anambra State over a minor disagreement. The incident almost caused a total breakdown of law and order in the area. Many truck drivers operating around the bridgehead axis of OnitshaAsaba Expressway blocked all

the major roads to protest the death of their colleague. They were, however, dispersed by the police. Sources said that the trouble started when the truck driver refused to stop and submit to a check by the policeman at the gate of the company. This led to a hot exchange and a scuffle which led to the killing. The Divisional Police Officer (DPO) in charge of Okpoko Police Division, CSP Emeka Ugwu, confirmed the incident. He said the policeman had been arrested and the case had transferred to the State Criminal Investigation Department (SCID), Awka for further investigation.

Government Area of Anambra State but residing at N0. 26 Nwabueze Close, Emene near Enugu metropolis and Nwabueze Azionu of Mgbo Awgu in Enugu State but resident at No. 7 Christ Church, New Market Road, Onitsha in Anambra State. He added: “Recovered from them are two locally-

made double-barrelled pistols and 10 live cartridges. “The state command, to this end, is appealing to members of the public, particularly hospital owners to report promptly to any nearby police station anyone with injury or wound suspected to be that of bullet for necessary action.”

Caretaker, 73, arraigned for N500,000 theft Akeem Nafiu

73-year-old caretaker, Balogun Asiwaju, was yesterday arraigned before an Ebute-Metta Magistrates’ Court for allegedly stealing N500,000. The septuagenarian was said to have on December 31, 2014, about 3 p.m., at 5, Okon Obele Street, Oniwala Estate, Surulere, Lagos, fraudulently obtained N500,000 for a mini flat apartment from one Miss Oluwakemi Ogunba. It was gathered that the victim had to report the matter to the police when she could not get the apartment as promised by the caretaker, and after all efforts to get her money back failed. However, upon his arraignment, the accused pleaded not guilty to the charges. Following his non-guilty plea, the presiding magistrate, Mrs Y. B. Badejo-Ogun-

sanya, admitted him to bail in the sum of N100,000, with two sureties in like sum. She then adjourned further hearing in the matter till May 20. The offences, according to the prosecutor, Corporal Cyracuis Osuji, are punishable under Sections 312 and 285 (9) (b) of Criminal Laws of Lagos State of Nigeria, 2011. Count one of the charges reads: “That you Mr. Balogun Fatai Asiwaju, on December 31, 2014, about 15.00 hours, at Number 5, Okon Obele Street, Oniwala Estate, Surulere, Lagos, in the Lagos Magisterial District did obtain the sum of N500,000, under false pretense of given a mini flat apartment to one Miss Oluwakemi Ogunba, and thereby committed an offence punishable under Section 312 of the Criminal Laws of Lagos State of Nigeria, 2011.”

City Briefs New IG’s appointment timely’ Juliana Francis

social cultural group in Edo State, Esan Renaissance Union, has praised the appointment of Mr Solomon Arase as the acting Inspector General of Police, describing it as timely. This was even as the group cautioned the Chairman of the Arewa Consultative Forum (ACF), Alhaji Ibrahim Coomassie, to mind his utterances and attack on President Goodluck Jonathan over the removal of the former IG, Mr Suleiman Abba. In a statement signed by its President, Aigbefo Irieteoshe Jnr and Secretary, Jude Ihichoya, the union alleged that the problem of the police today started from the period (1993-1999), when Coomassie was the IG. According to the union, if Arase was given the necessary logistics and support by the Federal Government, he would surely transform the force. In the same vein, a security analyst, Mr Folorunsho Atta, added that Arase’s appointment came at a time when the country needed a shrewd transformer for the incoming transition from Jonathanled government to General Muhammadu Buhari. Atta said: “Arase had always proved that he has what it takes to, not only move the force to the next level, but to make the force best in Africa.”

NGO holds gender forum for girl-child

he 11th edition of a special programme for the girl-child and mothers organised by a Non-Governmental Organisation, the Youth Advancement Forum, will hold on May 1, at Frankids Amusement Centre, Festac Town, Lagos. Tagged: “Femine Rapport,” the programme is being organised in conjunction with Soul Mate Industries Limited, Lagos. The founder of Youth Advancement Forum, Mrs Olayinka Adebayo, said it was an interactive forum for female children, especially between young girls, their aunties and mothers as role models. She said: “We know that there is need to create a role model between the old and new generations with a view to building a continuum of positive development.” The Youth Advancement Forum was founded in 2007 as An NGO to, among others, contribute to the growth of the Nigerian youth and work with the government, religious centres and other organisations in educating the youth; produce educational materials that will help in educating the youth and empower the young ones, and by extension, help in moral upbringing of female children.

Church opens Nigerian branch branch of In His Presence Christ A Tabernacle has been opened at Okun, Ajah area of Lagos.

The man who brought the church to Nigeria, Pastor James Ademuyiwa, said it had presence in 12 countries and three continents. He said: “I believe that bringing this church to Nigeria will add value to the Christian community in the country, all to the glory of God. This is so because In His Presence Tabernacle is where people experience positive transformation and fulfilment of destiny.”

News

LASTMA, VIS impound 289,371 vehicles in four years Muritala Ayinla

o fewer than 289,371 vehicles were impounded by the Lagos State Traffic Management Authority, LASTMA, and the Vehicle Inspection Service (VIS) in the last four years out of the estimated one million vehicles that ply Lagos roads daily, the state Commissioner for Transportation, Comrade Kayode Opeifa has said. The Commissioner added that about 343,753 motorists violated the traffic laws, ranging from

WEDNESDAY,APRIL 29, 2015 NEW TELEGRAPH

SOUTH-WEST

inability to possess proper and updated documents and driving against traffic, in the last four years. He also raised the alarm that road accident rate in the state has risen by 34 percent in the last three months, blaming the ugly development on the return of commercial motorcycles on the prohibited roads. According to him, the state had, through the restriction of the commercial motorcyclists, also known as Okada riders, from 475 roads out 9,100 roads in the state, reduced accidents by 81 percent and death rate

by 94 percent. Opeifa spoke at the ongoing 2015 ministerial press briefing, saying that no fewer than 476 lives were saved as a result of the implementation of the law. “We recorded the increase in the accident rate by 34 percent as a result of Okada operating in the prohibited roads. Some of the areas where we recorded the accidents include: Ikorodu, Ojota, Ikeja, Isolo, Apapa, Agege, Ijede, Mushin, Epe,” he said. Giving the breakdown of the records of vehicles

impounded by LASTMA, Opeifa said: “In 2011 alone, 18,740 vehicles impounded. In 2012, we have about 24,692; in the year 2013, LASTMA impounded 22,276 vehicles, while in 2014, no fewer than 16,256 vehicles were impounded for violating traffic laws. “VIS, on its part, impounded 54,518 vehicles in 2011, and in the year 2012, about 50,863 were impounded. The Vehicle Inspection Service also impounded 57,414 vehicles in 2013 and 44,882 vehicles who contravened the law were also impounded by the agency.”

Amosun congratulates Adesina, NGE president O

gun State Governor, Senator Ibiukunle Amosun has congratulated the Editor-in-Chief of The Sun Newspapers, Mr. Femi Adesina on his reelection as the President of the Nigerian Guild of Editors, (NGE) for another term of two years. In a statement by his Senior Special Assistant on Media, Mrs Olufunmilayo Wakama, the Governor said that Adesina’s re-election was a demonstration of his exemplary leadership qualities and the confidence reposed in him by members of the Guild. He charged the re-elected president to continue to ensure strict adherence to the Code of Ethics and maintain the high standards of the journalism profession.

The governor also felicitated with other elected and re-elected officials, including Sun’s General Editor, Mrs. Funke Egbemode, Mr. Steve Ayorinde and Victoria Ibanga, a former editor at Champion newspapers. “For the returning officials, it goes to show that you must have performed exceptionally well for you to have been returned unopposed. Just like I tell people, hard work pays, the people are watching and will always speak with their votes when the time comes”. Amosun, who noted the developmental role of the media in the just concluded general elections, applauded the NGE for its peaceful election and successful hosting of the 2015 Biennial Convention.

Form all-inclusive government, cleric counsels Buhari

lWarns lawmakers against impeaching Fayose Adesina Wahab Ado-Ekiti

A L-R: Synod Secretary, Diocese of Lagos (Anglican Communion) Ven. Igein Isemede; Chaplain, Rev. Canon Bola Ojofeitinu and Bishop of Lagos, Most Rev. Ephraim Ademowo, during a press conference on the third session of the 32nd synod of the diocese in Lagos… yesterday. PHOTO: TONY EGUAYE

SDP rejects elections results, slams INEC officials Babatope Okeowo Akure

he Social Democratic Party (SDP) in Ondo State yesterday described as unacceptable the National and State House of Assembly elections conducted in the state and vowed to challenge the outcome in some of the constituencies. The party, in a communiqué signed by the State Secretary, Mr Bayo Fajemilua and Director of Admin-

Babatope Okeowo AKURE

he Ondo State chapter of the Peoples Democratic Party (PDP) has criticised the PresidentElect, Gen Muhammadu Buhari (rtd) for banning AIT from covering his activities. A statement by its Director of Publicity, Mr Ayo Fadaka yesterday, said the action of Buhari even when he is yet to be sworn in would make the people of the country remember Decree 4 which

istration and Publicity, Mr Remi Olayiwola at the end of a State Executive Council meeting held in Akure, the state capital, also chided some Independent National Electoral Commission (INEC) officials that compromised their positions in the just concluded elections. Despite all what the party considered as electoral malpractices embarked upon by the big parties, including the People’s Democratic Party (PDP) and the All Progressive Congress (APC), the

SDP expressed satisfaction with the performance of the party and passed a vote of confidence on its leadership. The communiqué called on the electoral umpire “to be more diligent in the conduct of future elections as the recent ones demonstrated a clear indiscretion by some of the officers of the electoral body”. On the recently conducted elections in the state, the party “noted that the elections, particularly the House of Assembly election held on

April 11, 2015 in Ondo State, was characterised with massive buying of votes, now known as ‘buy and sell’ thuggery and open intimidation of voters”. The communiqué read reads in part: “That the meeting noted with pride the performance of SDP candidates in both National and State Assembly, taking into consideration the young age of our party being less than two years which was in competition with parties that are 17 years old at the time.

Ondo PDP chides Buhari on AIT was promulgated in 1984 during the military dictatorship when Buhari was in the saddle. The media team of the President-Elect has prevented AIT reporters from covering Buhari when the Cuba ambassador to Nigeria paid him a courtesy visit and also banned it for future coverage until the issues of security, family and ethical conduct are sorted out. But Fadaka, in his statement, said the media owned

by opposition leaders did worse things than what AIT did during the campaigns and the action showed that the party did not tolerate opposition views. His words: “We view very seriously Presidentelect Muhammadu Buhari’s ban on AIT to cover any of his engagements and declare that this action is petty, cheap and an infringement on press freedom. It is also an attempt to disrupt our freedom to information, there-

fore, we reject outrightly any attempt to infringe on our fundamental rights. “It is of absolute importance to put Nigerians on the red alert now as this action signals that attempts will be made to turn our democracy to dictatorship as it seems that the intolerance that characterized the military government of Buhari in 1984 remains intact and, therefore, may desire to unleash same on our nation again.

n Ado-Ekiti-based cleric, Prophet James Omitade, has advised the President-elect, Muhammadu Buhari to form an all-inclusive government cutting across all political parties for Nigeria to stand united and heal the wounds caused by the hate campaigns that dogged the 2015 general elections. He also warned the 19 All Progressives Congress (APC) members of the Ekiti State House of Assembly against impeaching Governor Ayo Fayose, saying doing so would ridicule the state and set a bad record. The cleric, who is in charge of Holy Trin-

ity Authority Prophetic Church International, spoke on yesterday in a chat with journalists on the political situations in the country. Omitade noted that the hate campaigns ran by the two major parties had divided the country along ethnic and religious lines and that intensive fencemending efforts must be launched by the incoming government to reunite the country and heal old wounds. He said bringing the opposition into the incoming government would unite Nigeria and mend the cracks the actions and inactions of political actors had brought to Nigeria in the cause of pursuing their political aspirations prior to the just-concluded general elections.

Election fallout: Fayose not crippling our businesses –Hausa community Adesina Wahab ADO-EKITI

he Hausa Community in Ekiti State has said Governor Ayo Fayose is not crippling their businesses for not supporting President Goodluck Jonathan of the Peoples Democratic Party (PDP) during the last general elections in the country. They also said nobody is victimising them over their political belief during the election period. According to a statement signed by their leader, Alhaji Musa Kanga and Secretary, Alhaji Babangida Umar in Ado-Ekiti yesterday, they

said banning of indiscriminate display of wares, particularly on highways by the government should not be linked to politics. The body dissociated itself from the rumour, saying it was targeted at creating friction between the government and the Arewa people who have co-existed in most mutual manner since Fayose came on board last year. The body was reacting to the rumour making the rounds that the banning of product display along Fajuyi-Adebayo-Opopogbooro Road, by the state government was a vendetta against Hausa people for voting MajGen. Muhammadu Buhari during the poll.

NEW TELEGRAPH WEDNESDAY, April 29, 2015

Governance

Another chance for govs’ forum

Reconciliation

I never apologised to Bode George, says Tinubu

Stability

Xenophobia

NILS seeks mid-term elections for lawmakers

Rage in the Senate

Politics Prior to the March 28 presidential election, Yoruba socio-cultural organisation, Afenifere, was optimistic that President Goodluck Jonathan of the Peoples Democratic Party (PDP) would be re-elected. In this report, WALE ELEGBEDE looks at how the group faltered with its big gamble and what becomes of it afterward

Living on old story

or the Yoruba, the sociocultural group, Afenifere, means different things to different people. However, in a straight jacket classification, the Afenifere represents both a burden and blessing, depending on which side of the divide the sorting is coming from. For decades, Afenifere has thrived on the platform of Yoruba’s tradition of respect for elders as it is majorly constituted by the elderly. So, its influence spans over majority of the Yorubas who see the pressure group as a legitimate force to serve their interests as well as maintain the waning influences of the region on the country’s polity. Those in this category also consider the group as an influential body to preserve Yoruba identity and mouthpiece of the Yoruba. However, those in contrast to this position believe that Afenifere is now a shadow of itself as it has been hijacked for parochial and selfish interests aimed at servicing political purposes. It is also opined that the voice of Yoruba is not heard through them as they have lowered the agitation for federalism down to their interests.

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

L-R: President Goodluck Jonathan; Afenifere leader, Chief Reuben Fasoranti and Ondo State governor, Segun Mimiko, during Jonathan’s visit to Afenifere leaders in Akure before the March 28 presidential election.

In the beginning The term Afenifere literarily means, “the group that loves you and wishes good things for you or wishes you well.” There were insinuations that Afenifere has been in existence since ‘Egbe Omo Oduduwa’ days but its first known leader was Pa Abraham Adesanya and it was formed as a socio-cultural organisation. Other known prominent members at inception included the late Chief Bola Ige who was the deputy leader, Chief Reuben Fasoranti, who is now the group’s leader; Dr. Femi Okurounmu, Mr. Ayo Opadokun, Ganiyu Dawodu, Olanihun Ajayi, Olu Falae, Ayo Adebanjo, among others. The Afenifere agenda was set up to primarily provide a decent political scheme for Yoruba including true federalism, significant control of resources by the states and the convocation of a sovereign national conference. When the Alliance for Democracy (AD) was formed as a political party in 1998, the Afenifere agenda automatically became its official manifesto, making it safer to infer that Afenifere metamorphosed into AD. Smarting from a reputable

Afenifere still remains the voice of the Yoruba because nothing has happened

and combative battle against the dictatorial regime of late Gen. Sani Abacha, the involvement of Afenifere in the AD at the advent of the Fourth Republic made the Yoruba to believe them hook, line and sinker and voted for the party; ditching Olusegun Obasanjo and his party, the Peoples Democratic Party (PDP). Between 1998 and 2003, Afenifere turned the AD into its exclusive preserve. The Ijebu-Igbo home of Adesanya became a Mecca of sort for aspiring individuals as decisions on who gets what, when and how in the AD were taken there. In fact, there was no way one could be governor in the zone if one was not a member of Afenifere. The catchphrase then was “AD is Afenifere and Afenifere is AD.” All efforts to separate the two were rebuffed by the elders. The disintegration The genesis of the crisis between the leaders of Afenifere started in 1999 after the selection of a presidential candidate of AD/All Peoples Party (APP) went awry. The late Ige who was the deputy to Adesanya, believed that as the most senior after Adesanya, the presidential ticket

should have been handed over to him as against Falae who was a fresh face in the group. Ige, who reportedly was out of the country when the presidential primary election was conceived and hatched, upon his return to the country moved against Afenifere and teamed up with the PDP government, which offered him Minister of Power and Steel from where he moved to the Ministry of Justice. He took these appointments without the permission of the group. While the crisis among the leaders festered, some AD governors including Bola Tinubu and Chief Bisi Akande, who was the Osun State governor joined Ige to fight Afenifere, while others supported Pa Adesanya. But some deputy governors including Senators Kofoworola Bucknor-Akerele and Iyiola Omisore became defiant and did not join their governors to wage battle against the Afenifere leadership. Interestingly, both deputy governors did not complete their tenure as they were impeached. Omisore was detained over the death of Ige while Bucknor-Akerele was CONTINUED ON PAGE 42

Politics

WEDNESDAY, April 29, 2015 NEW TELEGRAPH

sishana Okauru, Director General of the Nigeria Governors’ Forum (NGF) was optimistic that the forum will come back to life. Perhaps, he may have hinged his hope on the fact that by May 29, 2015, over 80 per cent of the crop of governors who brought the NGF to its knees will seek another political office having completed their two-term of office. Okauru’s prayer seemed to have been answered when President Goodluck Jonathan failed to win a second term in office, and his party, the Peoples Democratic Party (PDP) also failed to form the government at the centre. The leadership crisis that bedevilled the NGF in 2013 was believed to have been engineered by President Jonathan and his party. The NGF, which is supposed to be a bipartisan association of elected state governors in the country, took a different dimension sometime in 2013. Before the stalemated election, the outgoing ruling PDP which formed the majority of NGF members instigated its governors to form a PDP Governors’ Forum and elected the now outgoing Akwa Ibom State governor, Godswill Akpabio as its chairman. This was ostensibly to counter the growing influence of Governor Chibuike Amaechi led-NGF, who, even though was a member of PDP then, was antognastic of PDP-led Federal Government. With the formation of PDP Governors’ Forum, the All Progressives Congress (APC), which was newly formed, inaugurated its own Governors’ Forum, leaving out the All Progressive Grand Alliance (APGA) and Labour Party at (LP) which had a governor each, in the cold. Now with the election of majority new chief executives, the possibility of NGF coming back to life again looks feasible. Barely five days after the April 11 governorship and House of Assembly elections that produced 26 out of 29 state governors where the Independent National Electoral Commission (INEC) had declared vacancies for 2015 general elections, Okauru sent a congratulatory message to the old and incoming state chief executives. In a statement, the NGF DG assured the governors-elect of absolute loyalty and support, adding that the Forum look forward to a fruitful partnership with the new state chief executives. He noted that “by the victory at the April 11, 2015 governorship election, the governors-elect have become automatic members of the NGF”. He felt short of telling them that the nation expects new NGF leadership from them. If the 2013 NGF election was to be tenable, the tenure of the executive would have expired by May this year. Also, were either Governor Jonah Jang of Plateau State or Amaechi of Rivers State to have been recognised as authentic chairman of the Forum, their tenure both as governor and NGF chairman would have expired on May 29 this year. So, ordinarily NGF would have a new executive committee this year. If the ranking in the National Assembly is to be applied in the NGF, then Adams Oshimhole (Edo), Olusegun Mimiko (Ondo), Ibrahim Dankwambo (Gombe),

Amaechi

Jang

Another chance for govs’ forum

With the prospect of a new administration in the country next month, ONYEKACHI EZE examines the chances of resuscitating the Nigerian Governors’ Forum (NGF) from its two years of comatose Tanko Al-Makura (Nasarawa), Rauf Aregbesola (Osun), Abiola Ajimobi (Oyo), Ibikunle Amosun (Ogun), Rochas Okorocha (Imo) and Ayo Fayose (Ekiti) will be front runners to the NGF chairmanship. The governors are on their second term in office. Governors Idris Wada (Kogi) and Sierake Dickson (Bayelsa) will be facing re-election later in the year. Therefore, they may not be in the contention for NGF leadership since they are yet to know their fate. PDP had produced NGF leadership since its formation. In the 2013 election, both Jang and Amaechi were elected on the platform of the party. Now that majority of incoming governors were elected on the APC platform the race for the Forum’s leadership will be among governors elected on the platform of the party. If one can hazard a guess, Okorocha may emerge the NGF chairman. He is the outgoing chairman of APC Governors’ Forum. Apart from being chairman of APC Governors’ Forum, the odds favour the Imo State governor in every respect. He has proved himself to be a dogged fighter. Against all odds, Okorocha returned 133, 253 votes to APC out of 731, 921 people that cast their votes in Imo State during the presidential election. This figure made nonsense of Governor Amaechi’s boast to run PDP out of Rivers State. APC managed to get paltry 69, 238 votes out of 1, 584, 768 voters in Rivers State during the presidential election. Okorocha also won a second term in office even when he was subjected to a supplementary election. Governor Oshimhole who may present a challenge to Okorocha will be handing over to a succes-

APC

It is nothing but a governors’ club... but, it is getting terribly messy and embarrassing

Jibrilla Jindow Mohammed Abubakar Samuel Ortom Kashim Shettima Adams Oshiomhole Rochas Okorocha Badaru Abubakar Nasir el-Rufai Umar Ganduje Aminu Masari Atiku Bagudu Abdulfatah Ahmed Akinwunmi Ambode Umaru Al-Makura Abubakar Bello Ibikunle Amosun Rauf Aregbesola Abiola Ajimobi Simon Lalong Aminu Tambuwal Ibrahim Geidam Abdul’azeez Yari PDP Okezie Ikpeazu Emmanuel Udom Seriake Dickson Ben Ayade Ifeanyi Okowa Dave Umahi Ayodele Fayose Ifeanyi Ugwuanyi Ibrahim Dankwambo Idris Wada Olusegun Mimiko Nyesom Wike Darius Ishaku APGA Willie Obiano

Adamawa Bauchi Benue Borno Edo Imo Jigawa Kaduna Kano Kastina Kebbi Kwara Lagos Nassarawa Niger Ogun Osun Oyo Plateau Sokoto Yobe Zamfara Abia Akwa Ibom Bayelsa Cross River Delta Ebonyi Ekiti Enugu Gombe Kogi Ondo Rivers Taraba Anambra

sor next year. And since the NGF leadership is for two years, the governors cannot afford to choose a governor who will be in office for

less than a year. Unlike the outgoing President Goodluck Jonathan, the in-coming president, General Muhammadu Buhari, may be persuaded by his party to revive the moribund NGF. Since the unfortunate factionalisation, Okauru had regretted the setback this has caused the Forum. He had remarked that, “We had been able to establish a very strong relationship with virtually all the development partners; UNICEF, DFID, World Bank and others, but today nearly all of them are understandably jittery.” There is therefore, every need to restore the confidence of the development partners in the forum. Fashioned after the American Governors’ Association, the NGF was formed in 1999 as a non-partisan association to promote unity, good governance, better understanding and co-operation among the states. It organised regular visits across the 36 states of the country and acted as a peer review organ among state governors. But the mightier-than-thou attitude by successive leadership of NGF made many Nigerians call for it to be scrapped. Five governors have chaired the forum since inception. The NGF however, became “militarised” when former Kwara State governor now a senator, Bukola Saraki and Governor Amaechi of Rivers State assumed its leadership. They ran the forum like a pressure group. The Forum began to play a dominant role in Nigerian politics in 2010 during the constitutional crisis arising from the prolonged hospitalisation of former President Umaru Yar’Adua in Saudi Arabia. The Forum was among the bodies looked upon to find solution to the impasse. It was rumoured that the NGF was instrumental to the invocation of the Doctrine of Necessity by the National Assembly to resolve the constitutional impasse. But it was during Amaechi’s chairmanship that NGF acted like a parallel government, opposing virtually every Federal Government policy. It functioned more as a trade union than an association of elected people’s representatives who should collaborate with the federal authority to move the country forward. Even some state governors were not happy with some positions NGF took on some national issues. The president, Campaign for Democracy, Joe Okei-Odumakin, who was among the people calling for NGF to be scrapped said the scrapping would enable the governors provide good governance to the people. “It is not even constitutionally recognised; it is nothing but a governors’ club. Although they have total freedom of association, but, it is getting terribly messy and embarrassing. It should just be disbanded,” she argued. In some cases, the NGF has over-stepped its bounds. The position it took on some national issues was often against the interest of the people. A clear case was the local government autonomy which the NGF ensured it did not sell through during the constitution amendment. Most states are operating joint state-local governCONTINUED ON PAGE 41

Politics

NEW TELEGRAPH WEDNESDAY, April 29, 2015

The House of Representatives has formally responded to President Goodluck Jonathan’s decision to withhold assent to the fourth alteration to the 1999 constitution sent to him by the National Assembly shortly before the general elections. PHILIP NYAM reviews the position of the House

Reps rap Jonathan

resident Jonathan had on April 13, 2015 communicated his decision not to assent to the Fourth Alteration Act 2015, citing alleged failure of the National Assembly to meet certain constitutionally provided thresholds in passing the bill. Speaker Aminu Waziri Tambuwal consequently mandated the House ad hoc Committee on Constitution Review headed by the Deputy Speaker, Hon. Emeka Ihedioha to study the president’s observations and advised the House appropriately. Although, the Executive has taken the National Assembly to the Supreme Court, the action did not deter the House from making its stand on the president’s concerns known. In its verdict, the committee submitted that the president has no case and should proceed to sign the bill. The committee in its report presented by a member of the committee and minority whip of the House, Hon. Samson Osagie said it was incorrect for the president to have submitted that the requirement for section 9 (3) was not met. It argued that the National Assembly met the requirement of the section “for a fourth-fifth of the votes of the members of each House” adding that a reference to the proceedings of the House of Wednesday, July 24, 2013 showed that “for the alteration of section 9, attendance of members as registered was 338, ayes votes 317, nays votes were six, abstain 15, totalling 338. The Senate also voted accordingly.” Clause 4 seeks to alter Section 9 of the constitution by insertion of a new sub-section 5, which dispenses with the assent of the president in the process of constitution amendment. The constitution requires votes of not less than fourfifths majority of all the members of each House of the National Assembly and approval by a resolution of the House of Assembly of not less than two-thirds of all the states. Jonathan was of the view that this requirement was not met by the National Assembly. But the committee noted that “four-fifths of 360 membership of the House is 288. It is therefore not correct for the president to have stated that the requirement of section 9(3) was not met.” Clause 12 On clause 12 bordering on the

Jonathan

insertion of new sections 45A and 45B, the lawmaker submitted that “it is not every detail of a provision that should be spelt out in the constitution as the institutions and organs against whom constitutionally guaranteed rights are usually sought to be obtained from are known by the citizenry.” Jonathan had contended that the new section should have been restricted to government schools and not left open ended as if it is applicable to private schools. The same argument applies to new section 45B which seeks to guarantee right to free primary and maternal care services. New section 45A of the bill seeks to guarantee right to free basic education. Clause 14 Responding to the president’s position on alteration of section 58 (clause 14), the House noted that the section presently mandates the president to assent to a bill sent to him or indicate his withholding of assent within 30 days of the bill being sent to him. “Therefore the 30 days requirement is not a new introduction by the National Assembly. “The amendment was made to cure the current practice whereby bills are sent to the president for assent but he neither assents nor indicates withholding of assent sometimes months after, much more than the 30 days period mandated by the constitution,” the House stated. It added: “The constitution envisages that the president shall

Tambuwal

communicate his withholding of assent before the National Assembly could invoke the powers to override the veto, or sustain it. But where this is not communicated, the National Assembly becomes hamstrung. Thirty days is certainly not enough for the president to do his solemn constitutional duty.” The National Assembly therefore introduced an amendment to the effect that if the president fails to assent to the bill or indicate his withholding of assent, the bill shall become law after the 30 days interval.

It is not every detail of a provision that should be spelt out in the constitution

Clause 21 On clause 21, section 82, the House opined that the amendment seeks to reduce the period when expenditure can be authorised in default of appropriation from six months to three months, explaining that “with the reduction of the period to three months, the National Assembly envisages that the Executive arm shall present the appropriation bill latest by the end of September of each year, and the National Assembly shall have the corresponding task to ensuring its passage before the end of the three months threshold.” According to the House, allowing the appropriation act of the previous year to continue to run six months into a new fiscal year ‘distorts and destabilises’ the budget process and should be stopped. Attorney General/Auditor General The House submitted that the contention of the president that the funding requirement for the proposed office of the Accountant General of the Federation

was not addressed should not be a problem “as it is not every detail that should be included in the constitution.” On the concern bordering on the appointment of the Accountant General by the president on the recommendation of the National Economic Council, the House noted that “this should not be a problem “given that the Accountant General of the Federation serves the three tiers of government, the proposal shall have been as representative as possible since all the 36 states governors are members of the Council and the vice president is the chairman.” Similarly, the House responded to the concern raised by the president on the proposed separation of the office of the Attorney General of the Federation and of the states from that of the minister or commissioner of justice would violate the doctrine of separation of powers and negate the independence and absolute discretion that the office enjoys. According to the House, the basis for providing for the National Judicial Council (NJC) to make recommendations for the appointment of the Attorney General by the president is because the NJC appears to be neutral body as it is made up of senior judges including members of the NBA. “Certainly, the separation of the offices of Attorney General and minister of justice is to guarantee the impartiality of the office of Attorney General over public prosecutions, while the Minister of Justice serves as chief legal adviser to government,” the House stated.

16 Politics

WEDNESDAY, April 29, 2015 NEW TELEGRAPH

NILS seeks mid-term elections for lawmakers Philip Nyam Abuja

he National Institute for Legislative Studies (NILS) has advocated for the adoption of the United States model of conducting mid-term elections for legislators. The Director-General of the NILS, Dr. Ladi Hamalai, made the call yesterday at the ongoing induction course for National Assembly members-elect in Abuja. She said the mid-term elections will help in safeguarding institutional memory that would enhance the maturity and growth of the legislature. Hamalai, who described the legislature as “the most democratic arm of government”, la-

mented the huge loss of institutional memories in the Legislature. She stressed that the idea of changing legislators every four years has greatly retarded the growth of the arm which represents the symbol of democracy. “The legislature is the most democratic arm of government where you have 360 members of the House and 109 members of the Senate representing 360 Federal Constituencies and 109 senatorial districts respectively. Each one is an independent unit of power created by, and deriving its functions from the constitution. “So, it is not subject to any other organisation. Any other organisation is a bureaucracy. And since it’s the most democratic

arm of government, the sustenance of democracy will largely depends on the growth of the legislative arm,” she submitted. She added that such practice is responsible for the unhealthy practice of designating returning legislators as ranking members who enjoy certain preferential treatments at the expense of others, even though the presiding officers are called, ‘first among equals’. She, however, noted the constitutional hurdle in the way of such a political reform which is necessary for the growth of the

legislature. “The need to keep experienced lawmakers for the growth of the legislature is a policy and constitutional issue. There are various dispensations worldwide where they fashion out ways on how to solve this problem. “In the US, for example, every two years they elect half of the congress in what is called, mid-term election. Not all. In such an election, almost 90 per cent of the legislators are returned. In this arrangement, not all the legislators go for re-election at the same time. That is

why you have lawmakers spending decades in the legislature with all the legislative experiences. “So this has to be really debated on. Whether to do a constitution amendment to ensure that at least, 50 to 70 per cent of legislators are retained at every election, or better still we can adopt the US method which ensure not all of them are made to go for election at the same time, which requires an amendment to the constitution,” the Director General said. Hamalai also urged political parties to de-

emphasise the concept of zoning the offices of presiding officers of the National Assembly in relation to legislative experience. “There are other strategies we can also adopt. Like the political parties can adjust their behaviour by removing zoning from legislative elections. Take it off completely. We don’t need to zone legislative appointment and offices. If they can really appreciate ideological and legislative reasoning behind that, we all can benefit from it,” she said.

Babatope to APC lawmakers: Buhari should retire before I quit politics Temitope Ogunbanke

ormer Minister of Transport and Aviation, Chief Ebenezer Babatope, has condemned the call for his retirement from politics by the All Progressives Congress (APC) members of the Ekiti State House of Assembly. Speaking to New Telegraph, Babatope, who is a member of the Peoples Democratic Party (PDP) Board of Trustees (BoT), said the APC lawmakers should first prevail on the President-elect, General Muhammadu Buhari, who is of the same age with him to first retire from politics before asking him to quit active politics. Reacting to a statement by APC lawmakers in a statement signed by the Special Adviser on Media to Speaker Adewale Omirin, Mr. Wole Olujobi, the former minister took a swipe at the lawmakers for scolding him over his comment on the APC National Leader, Senator Bola Tinubu and the plans by the lawmakers to impeach Governor Ayodele Fayose. His words: “I think the young men in Ekiti have got matters very wrong. For example, in their statement, they accused me of sponsoring thugs. I have never done that in my life. When I was the Director of Organisation of the Unity Party of Nigeria (UPN) led by Papa Obafemi Awolowo, nobody could credit any violence against anyone to my department. And not only that, myself and many colleagues in the NPN in the Second Republic were good friends. So, how could I go to Ekiti and

support the use of thugs? “Secondly, the boy who issued the statement said, I am 80 years old. That is a lie. I know I am an old man but I am 72. President-elect, Buhari, is of the same age with me; we are both 72. Buhari is only senior to me in age by one month and nine days. So, if they are calling on me to retire, they must also call on Buhari to retire. Buhari must retire first because in matter of seniority of age, he is senior to me. If they are not asking Buhari to retire, then their call on me to retire is misplaced. They have no right to ask me to go on retirement. I am not going on retirement. I will continue to participate actively in politics in Nigeria till God called me to His bossom. “They have advised me to retire and I can only take their advice if they withdraw from participating in their illegal plans to impeach Governor Ayo Fayose. Once they do that, I will consider what they have said. But I am a strong person and I will continue in politics as long as I live.” Babatope also expressed displeasure with the Ekiti lawmakers over attack on him as a result of his comments on Tinubu. “Bola Tinubu is a young man that I like and I said that in my interview. When I got married, he contributed money to my bachelor’s eve. I was only advising Bola and I believe that is what Bola needs. He has done well for his party and for himself but he must never make a mistake of calling himself the leader of the Yoruba. If he does so, he will be making a great mistake,” he said.

George

Tinubu

I never apologised to Bode George, says Tinubu Wale Elegbede

ational Leader of the All Progressives Congress (APC) and former governor of Lagos State, Senator Bola Tinubu, has stated that he never offered any apology to the former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George. The former governor said he needed no forgiveness from George. Tinubu, in a statement issued on his behalf by his media aide, Sunday Dare, said he was informed about a recent interview by George in one of the national dailies and felt it was necessary for him to clarify his (George) claim that he begged him for forgiveness. His words: “I don’t know when and how I ever offended Mr. George. I have never wronged the man or even thought of it. I sought no forgiveness because no forgiveness was needed. “I think somehow he is still trying to implicate me as instigating

the criminal proceedings once lodged against him. From my recollection, Mr. George was found guilty by a court of competent jurisdiction based on convincing evidence of wrongdoing. He insults the judiciary by implying that his conviction was wrongly derived. “Mr. George seeks to imbue me with more power than I could possibly have. I am flattered but in all humility I must protest the false assessment. If he can remember, the government of the day was that of the PDP. I have neither had nor sought much influence in those circles. “He was charged by the government ruled by his own party for an offence concerning financial irregularities at the Nigeria Port Authority (NPA), an appointment he received from that same government. It is an incredible tale indeed to state that somehow I could direct a party that tried to dismantle the progressive political structure of my party to bring down one of its key members.

“I believe he was convicted of ‘Invoice Splitting’, a violation of financial regulations. This malpractice is a deliberate circumvention of the law so that the culprit may get approval expenditures above his mandated authority to do so and without proper oversight. “In the end, it was Mr. George’s own hand and actions that led to his incarceration more than anything I could ever have done.” Narrating the scenario that played out at the occasion where the purported apology took place, Tinubu said: “Mr. George claims the alleged apology was made at the burial of Chief Alao Arisekola. On that date, personalities such as Oba Otudeko and Governor Abiola Ajimobi approached me because I did not greet Mr. George initially. “They pleaded that, in the memory of the man we were all gathered to honour, I should greet Mr. George. At their request, I turned back and came to greet him by saying “Good Afternoon Egbon.”

That was all. “If Mr. George wishes to interpret that as an apology, he has the right to do so. I also have the right to state categorically that no apology was made or even intended.” Drawing a corollary between George’s statement and the outcome of last elections in Lagos State, Tinubu said: “I think he is trying to find a way to walk back from his election hyperbole that he would go on exile if the APC won the Lagos State governorship election. He realises that Lagos under the APC is a very good place to live after all. If he wants to remain in Lagos, he does not have to manufacture an excuse or explain away his bad words. “Neither the APC nor I have any aims against him. In the election, the people rejected his party and his brand of politics. That is enough for us. We move on to greater progress. We have no time or inclination to trouble ourselves by troubling Bode George. Any trouble he is experiencing is a product of his own mind.”

Politics 17

NEW TELEGRAPH WEDNESDAY, April 29, 2015

Members of the Advocate for Peoples’ Rights and Justice on a peaceful protest over xenophobic attacks in South Africa in Abuja...recently.

The Senate has decried the recent xenophobic attacks unleashed on the African immigrants in South Africa, in which affected Nigerians have been counting their losses. CHUKWU DAVID reports that the development angered senators

igeria is the self-acclaimed giant of Africa. Looking at the pathetic state of the nation’s economy and multifarious indices of underdevelopment in the polity, analysts continue to wonder why the country took this bogus title. Economically, some smaller economies in the continent are doing better than Nigeria. However, the title becomes suitable when population and landmass are the basis of this placement. In addition to being the largest country in the black world, Nigeria is highly rated in terms of efficiency and proficiency of her armed forces when it comes to military operations. This was why the country has always led peace keeping missions to quell insurrections or wars in troubled countries of Africa. Apart from giving and leading military assistance in Africa, Nigeria, in spite of the poor state of her economy over the years, has been playing the ‘big brother’ role in the continent in terms of lending financial assistance to needy nations. The country has played pivotal role in fighting menacing social vices such as insurgency, military coups and apartheid. Interestingly, South Africa is one of the biggest beneficiaries of Nigeria’s benevolence towards other African countries. In the

Rage in the Senate days of apartheid rule in South Africa by the whites, Nigeria made all necessary sacrifices in order to bring the obnoxious, inhuman administration to an end. This was finally achieved through sustained global campaign, of which Nigeria was a major player. Unfortunately, South Africa has become the proverbial mouth that bit the finger that fed it. In the recent xenophobic attacks in that country, Nigerian immigrants were major targets. Some of them lost their investments to the South African assailants, who attacked black immigrants in their country on the claim that they had taken over their employments and put them out of jobs. The debate The Senate was angered by this and formally considered the matter last week Wednesday through a motion brought to the Chamber by the Senate Leader, Senator Victor Ndoma-Egba, and cosponsored by other 106 Senators. The motion was entitled, “Rising Incidence of Xenophobic Attacks in South Africa.” Leading debate on the motion on the floor of the Senate, NdomaEgba noted with dismay the recent wave of xenophobic attacks in parts of Johannesburg and Durban, South Africa by locals on African immigrants. His concerns were that the attacks had led to the death of no fewer than seven persons as well as massive looting and destruction of foreigners’ properties, while hundreds of migrants were compelled to relocate to police stations across the country. He also lamented that Nigerians living in South Africa had been seriously affected by this crisis as no fewer than 50 persons

One begins to question if it was right to have emancipated them from the shackles of the apartheid

have been reportedly rendered homeless after being displaced by these attacks and about 300 others displaced near Johannesburg, noting that at the last count, properties and Nigeria’s businesses worth millions of Naira had been destroyed. To make the matter worse, Ndoma-Egba noted with worries that Nigerians living in South Africa, who were always targets of such attacks and other foreigners could not rely on the Police for protection because the South African Police rather maltreated and extorted money from them. He recalled that prior to 1994, though immigrants faced discrimination and violence in South Africa, much of such risk stemmed from the institutionalised racism of the time due to apartheid but noted with surprise that after democratisation in 1994, contrary to expectations, the incidence of xenophobia increased such that between the year 2000 and March 2008, at least 67 people died in xenophobic attacks. The lawmaker said that the Senate was alarmed that the recent wave of attacks was provoked by the comments of a renowned Zulu King, regretting that while the acts went on, some members of the South African Security Forces who are supposed to quell the violence, protect victims and prevent violence from escalating were rather seen encouraging the perpetrators to continue in their condemnable act. He expressed bitterness that, irrespective of the sacrifices made by Nigeria to end apartheid and ensure emancipation of South Africa, the people of that country had continued to maltreat and humiliate Nigerians without justification.

Rage of senators When Ndoma-Egba finished his presentation, the senators who were already agitated took turn to contribute to the debate, and all of them condemned the South Africa’s ungrateful attitude to Nigeria and insisted that Nigeria must take decisive action against the country as a means of preventing possible reoccurrence of assault in future. Senator Ita Enang, who represents Akwa Ibom North East, said that the matter became more painful because the maltreatment was coming from a country like South Africa considering the history of Nigeria and the country in a mutual bilateral relationship. He urged his colleagues that the Pan-African Parliament should be immediately called to convene and discuss the issue of xenophobic attacks in South Africa, while calling on Nigeria to take a revenge action against some of South African companies in the country such as the MTN and MultiChoice. Senator Ganiyu Solomon (APCLagos West) in his contribution, urged the South African government to apprehend all whose faces have appeared in pictures and videos, perpetrating xenophobic attacks on immigrants, pointing out that Nigeria ought to have recalled her High Commissioner in South Africa to establish her disappointment on the regrettable incidence. “We ought to have recalled Nigerian High Commissioner to South Africa to register our proCONTINUED ON PAGE 40

MORE STORIES ON pageS 40-43

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Opinion Keshi, still our best Cosmas Odoemena

fter several months of waiting for the Nigeria Football Federation (NFF) to make up its mind on whether it was going to appoint Stephen Keshi or someone else as coach of the Super Eagles, Keshi has now been unveiled as the substantive coach of the Eagles. For the sake of continuity, the NFF has got it right in retaining Keshi. Time will prove it has taken the right decision. Since Keshi “failed” to qualify the Super Eagles for the AFCON 2015 in Equatorial Guinea to defend their title, he has fallen out with many Nigerians. But how short indeed is our collective memory of success! When he won the 2013 AFCON, his players carried him shoulder high. Nigerians celebrated him. Africa celebrated him. CAF named him the Coach of the Year. Mahmoud El-Gohary of Egypt and Nigeria’s Stephen Keshi are the only people that have won the Nations Cup as a player and as a coach. Nigerians were proud to be associated with Keshi. All now seem to be by-gone. But in my opinion, Keshi remains the best Nigerian coach for now, and is even better than many foreign coaches. Many African countries

covet Keshi. But I feel Keshi’s heart is with Nigeria, as any patriotic Nigerian would. Keshi would rather see that he adds more laurels for Nigeria than be seen to be winning laurels for another country. Nigeria needs a coach that understands the dynamics of football as it applies to Nigerian players. Football is a team game. Perhaps, you might get one or two people who want to always raise their game in a match, but as long as you have those who are not willing to raise their game, even just one of them not raising his game, that one becomes the weak link. They are the ones who will lose concentration in a match easily. They are the ones who will not take any risk in a match, they are the ones who will complain about playing on artificial turf, they are the ones when they are supposed to play for the national team, will excuse themselves for “pressing family matters,” they are the ones who blackmail their country over match bonus. Keshi knows all this. And that is why he does not build his team on any player. That is why he is regularly looking for “unknown” names that will make a name for themselves – even if they are only primed to last for a competition. It does not matter. Keshi goes for raw talent, and what

his team lacks in talent, it has as a team. Keshi understands that “big names” will not win us laurels. It is easier for Nigeria to win the Nations Cup again with Keshi’s “unknown” players than with our under-talented players with over-inflated ego from abroad who choose the match they play. Some have even said Keshi’s AFCON success was by “luck”. Well, luck follows great coaches. Keshi is not the problem of our football. No coach is the problem of our football. Even an Alex Ferguson will not succeed in the kind of football environment we have today. Besides, no coach keeps winning forever. There will be a time failure will come in. It happens to the best coaches in the world. But good coaches learn from it, to get even better! In addition, Nigerians are not patient. Before Sir Alex Ferguson became what he is with Manchester United, his early years had no success. No one sacked him. He was given time. And the results are there to see. Arsene Wenger has been floundering with Arsenal for some years now. Still, management has kept faith with him. They know he has done it before, that he can do it again. Even Louis Van Gaal with Manchester United was not winning

matches when he was initially appointed, but today they are third in position in the English Premier League. The Spanish team, as defending Champions, was disgraced at the last World Cup prompting their coach, Vicente del Bosque, to tender his resignation. The football board did not accept his resignation. They told him that they believe in him. Now, the Spanish team is back to their winning ways. Keshi has been handed another chance to prove his mettle, another chance to shine. He should not misuse it. He should remember that the future of our football lies in our youths. He should pick the core of his team from the Flying Eagles and the Dream Team. Let no one discourage him with the un-provable excuse that those boys are still young and lack experience. They will garner experience when they play top teams. Both Diego Maradona and Pele made their international debuts at 16 years. Pele played at the World Cup at 17 years. Keshi is like Nigeria’s Presidentelect, Major-General Muhammad Buhari, whom Nigerians have a lot of expectations from. Like Buhari, he should hit the ground running. There is no time to waste. Odoemena, is a Lagos based medical practitioner

Untold secret of Nigeria’s economic rise (2) CONTINUED FRO M Last monday

Chamberlain S. Peterside

say that for the following solid reasons that will require hard statistics to be buttressed further and substantiated; a) The value creation in dollar terms or incremental productivity from crude oil refining locally far outweighs the proceeds from crude oil exports at current prices. Consider the by-product derived from refining a barrel of crude oil even at current average price of $50 - $60 per barrel, which can be at least 3 – 5 times more. This same products can help unlock value in the local economy through providing lubrication for domestic manufacturing; diesel, aviation fuel, kerosene for local industries and polyethylene for petrochemical processing and Liquefied Petroleum Gas (LPG) for domestic cooking and commercial use. b) One of the greatest inhibiting factors in the growth of local electricity generation is shortage of gas supply. Yet Nigeria has huge gas reserves, and exports Liquefied Natural Gas (LNG) through the existing Bonny LNG plant, while planning for Brass and Olokola LNG. How economically insensitive can that be? If you consider for a moment the im-

pact on manufacturing and growth of cottage industries, the increase of electric power capacity from the current level of 4000 megawatts to say 10,000 – 20,000 megawatts in the next 4 years you would understand how that can tremendously spur productivity and drive double-digit economic growth. c) To rely on oil exports and proceeds from gas exports at the expense of domestic power supply and local crude refining is fool hardy to say the least for Nigeria and Buhari should consider reversing that trend. d) The multitude of challenges plaguing Nigeria today is a direct consequence of that third-world economic malaise. If the prognosis of Nigeria rising to join the ranks of the Next 11 (according to Goldman Sachs Investment Bank) or becoming a MINT member country is to be achieved, the current environment is totally hostile and counter-productive for that. By the way MINT stands for Mexico, Indonesia, Nigeria and Turkey as a new group of powerful global emerging economies. … Market Scenario For the purposes of illustration, consider the following facts. A barrel of crude oil, is an equivalent of about 159 litres. Consisting of 11per cent Liquified Petroleum Gas (LPG); 13per cent petrol/gasoline; 50per

cent diesel and the remaining are kerosene, fuel oil, sulphur etc. Consequently based on this configuration, a barrel of crude oil refined locally will produce approximately 30 litres of petrol/gasoline, 90 litres of diesel and other sundry products. In monetary terms, 90 litres of diesel at a unit market price of N150 is about N13,500 or $67 at N200/1 USD, while 30 litres of fuel/gasoline at N110 per litre will give N3,300 or $16. That alone amounts to a total output of $84, not considering the income from other refined products. Now compare this to a current market price of crude at $60 per barrel that results to a loss of $24 per barrel. At a daily production of 2.3 Million barrels, Nigeria losses $55 Million daily or $19.8 Billion annually, assuming production is for 360 days at going price of $60 per barrel. …The Last Dinosaur Standing - NNPC Aggregate this financial loss with the mass closure and the low capacity utilization of existing local factories and intermittent shortage of refined products in the market, plus the subsidy sink-hole, you would understand the enormity of financial calamity being orchestrated by the overly dependence on this singular hydro-carbon sector in Nigeria. Now don’t ask me about the attitude of vested interests and myopic economic groups in Nigeria

towards the proposed radical turnaround (that have carved their respective niches and would not live to see this drastic change happen). To them I say, “if you can’t beat us, join us”. Economic transformation and structural changes are usually fraught with casualties. In such circumstances, companies and entrepreneurs are forced to retool, realign, re-strategize or perish. The progressive match forward in any economy ought to benefit the majority, however, due to potential loss of grip and entrenched rent-seeking mentality, drastic changes hardly succeed, nor even allowed to take-off. As we have seen with the status quo in NNPC, PHCN and NITEL etc. Thankfully, but gradually that chokehold is loosening. President Olusegun Obasanjo succeeded in dismantling/ liberalising the telecommunication sector, President Goodluck Jonathan made strong strides in unbundling and disposing the electric power assets of NEPA (PHCN). The last dinosaur still standing and probably the strongest of all is NNPC and the oil/ gas cartel. President Mohammadu Buhari must attack that challenge frontally to make it his best legacy and at last free the economy of Nigeria from a debilitating paralysis. CONCLUDED

Peterside wrote in from Port Harcourt

NEW TELEGRAPH WEDNESDAY WEDNESDAY,1APRIL OCTOBER 29, 2015 2014

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Grappling with Lagos gridlock

he elections are over and the coast clear for a new government to take over at the centre in Abuja. Gen. Muhammadu Buhari has just one month to stay as President-Elect while the nation eagerly awaits his inauguration on May 29. Buhari is not new to the height of Nigeria’s leadership, having stayed in power as Headof-State between December 1983 and August 1985. But he will be living at the Aso Presidential Villa Abuja for the very first time. As military ruler, he spent all his time at Dodan Barracks, Obalende, Lagos. For over two decades and half, Lagos has remained just the business capital, after losing administrative relevance to Abuja. Before Gen. Ibrahim Babangida finally caused Abuja to assume the role of capital, Lagos was grappling with terrible traffic on its roads. The belief was that the relocation to Abuja would ease the metropolis of all the congestion. Today, the story is more exasperating. Driving in Lagos is one of the quickest ways to untimely death. The stress is so much that at times, commuters spend half of the day on the road . Even when the roads are supposed to be freeways,

the gridlock makes nonsense of the tag. Previous governments seemed to have abandoned Lagos to Lagosians and the Lagos state government. Yet ,it is in the town that you have the country’s busiest airport, the Murtala Mohammed International Airport ,Ikeja and the major sea ports. Added to this, is the ineptitude of some of those whose responsibility to move the country could be likened to irresponsibility. It is difficult to explain a situation where everyone will rush to Lagos in search of better living conditions. Most of the wealth is concentrated therein, attracting millions of Nigerians from various cities, towns and villages, to the business destination. The ugly situation therefore arises where the huge population also affects everything about the city. With booming business and opportunities, vehicles flood the roads. What follows is chaos. There are no functional intra city rail services, which would have lessened the suffering of commuters. Government officials visit other climes, enjoy the comfort of their trains, yet, when they return to the country, these powerful Nigerians do not replicate what they

see outside. Lagos is full of waterways. With good planning, commuters do not have to suffer on the road from Ikorodu to the Marina or from Mile Two to Victoria Island. Efficient ferry services will take care of that. One ferry could accommodate as many passengers as two buses could carry. The result is that with so many vehicles on the road, it becomes difficult to move freely. Lagosians are forced to buy more cars than they actually need because the alternative is not what they wish. Instead of dressing well to work ,only to board rickety buses or even wait hours on end for vehicles, they prefer to increase their fleet of cars. While government takes most of the blame for action not taken, driving in Lagos is another traumatic experience. In the bid to escape biting traffic, some drivers break traffic rules and are hardly punished. It therefore becomes easier for many more to see driving as a sport, with no holds barred. The Federal government under Gen. Buhari, must see Lagos as a special area. The problems are beyond the capacity of the state government. Since our refineries are on life support and Abuja believes

that a country that produces oil should also import oil even with four refineries, then something must be done about the tankers that have turned the Apapa- Oshodi Expressway to a nightmare. Those tankers and tank farms would not be tormenting Lagos if they did not have to come from various parts of the country to lift oil. And because the drivers of these long vehicles, know that oil is the soul of Nigeria, they see themselves as tin gods that must be worshipped and appeased. Gen. Buhari must therefore keep more than an eye on Lagos. We know that other towns like Abuja and PortHarcourt also go through traffic problems, Lagos deserves immediate attention. The commercial capital of Nigeria craves for a better deal. This is the hub of economic activities. If Lagos grinds to a halt, it is the country that suffers. Mega cities all over the globe, have their fair share of gridlock. In those places, there are measures to improve vehicular flow. Government should have the will to save Lagosians and indeed Nigerians the agony of eating, sleeping and waking on the road. That done, the positive effects on the economy will be tremendous.

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WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Arts

Book Review

Deceit, greed, chivalry in Legend of the Kings

t is very important to have a new dimension to the creative industry. I was challenged by the quality of work done by Oriaku in the way he fuses poetic conversation into his play, Legend of the King. The story starts with narrations from three troubadours before the entrance of a high priest, Talebearer, who gives a somewhat opening into the main drama. Set in the NigerDelta region of the country, the play tells the story of the King of Kirikese Kingdom, Boka, who received the announcement of the birth of a set of twin with so much melancholy. One would have thought that he should be happy for the eventual safe delivery of his sons through the help of a midwife after some days in labour by the Queen. A high level of anxiety was raised through the dramatic element of suspicion when it was not clear why the boys, their mother, and the attendants to the Queen which included a white midwife were all damned to be killed as pronounced by the gods through their mouthpiece, Ikaki, the priest. As events unfold it was discovered that King Boka had in his hey days eloped with the bride of a water spirit, Efereya, who was obviously angry and

subsequently placed a curse on Boka which made him impotent; and Boka in order to prove his virility to his subjects had deceitfully employed one of his maids to impregnate his wife which further put him under friction with the forces of the gods. The boys were separated through some mischief, one grew up in the palace, Fibika, and the other, Ekwenji, grew up in the creeks and became a pirate. Forces of nature bring them together and their eventual doom was brought to the fore as already proclaimed by the gods. The story thus ends on a tragedy of note. A lot of symbolism was employed in the drama. Boka symbolises a proud and deceitful leader who knows what the exact problem is but rather than address the issues, embarks on rigmarole; more often than not do our leaders know the major issues that are affecting the lives of their subjects or citizenry, instead they engage in some politicking at the detriment of the masses. Captain Allen is the typical business man whose major interest is his profit; such merchants go about festering confusion amongst the people, even to the point that the more the bloodbath the greater their profits. Such people deal in

ammunitions and the best way an arms dealer profits is when there is a war. Ekwenji symbolizes some people we consider as social misfits, most often than not, we fail to realize that some of them are victims of circumstances. Ekwenji is a strong character, a great lover, a human right activist. Ere symbolizes true love that readily withstands all weather, rain or shine, even unto death. The drama is set in Ijo wetlands of the early 18th century pre-colonial Niger-Delta, the different wars, businesses and costumes sufficiently point to that. The two kingdoms that are ascribed to in the play are Kirikese and Okoloma kingdoms. The folkloric tradition of the two (Riverine) kingdoms is richly explored that hardly did any scene pass without being interspersed by different traditional songs of the people. The palaces of the two kings, Boka and Okparanjali, are built to reflect the grandeur of the royals in traditional African setting. This book is no doubt brilliant addition to the great works written by Professor John Pepper ClarkBerekedemo and other prominent writers from the region. Some of the thematic tilts of the book include; deceit, greed, chivalry, betrayal, op-

pression, love, good leadership and neighbourliness. The story is written with sublime expressions grilled in poetic artistry and deliver with an exceptional theatrical tone. It is an exhilarating drama with each moment furthering a heighten curiosity and demanding foreclosures on seemingly loose ends. It is a very good recommendation for every love of good drama. Significantly, the play has 21

songs with their interpretation in English, which makes it easily adaptable for various audiences across different communities. Despite some errors in the text, which includes very long scenes, the “Queen English” being spoken by the locals, Oriaku has done the Niger-Delta proud with this publication and hopefully, this will not be his last contribution to the body of literature from the region.

Ricketts, Butler, Somi for Satchmo’s Jazzfest ’15 in Lagos Tony Okuyeme

head of the Satchmo’s Jazzfest ’15 which begins tomorrow with celebration of the this year’s edition of International Jazz Day in Lagos - in keeping with the declaration of UNESCO - the organisers of the festival held a lecture on “70 Years of Jazz in Nigeria” on Thursday at Goethe Institut, Lagos. The lecture which

TONY OKUYEME tony.okuyeme@newtelegraphonline.com

Keazor delivering the lecture in Lagos

was given jointly by jazz historian Emeka Keazor in conjunction with Benson Idonije, gave an intellectual dimension to the Jazz Festival. The session traced the history of jazz in Nigeria from the 1920s to date, illustrating its various land marks with pictures and images. Presentation of awards to Nigerians who have made outstanding contributions to jazz will be done at the venue of the festival. Briefing the media at the

lecture, the founder and Festival Director, Dolapo Ajayi, who has been officially mandated by UNESCO to hold the event in Nigeria, said, “on April 30, 2015, the world will celebrate International Jazz Day in recognition of jazz as a force for peace, intercultural dialogue and cooperation. All is already set for the Nigerian participation to take off ”. Saxophonist Bobby Ricketts, one of the festival’s major participants who flew

into Lagos from America on Wednesday, was introduced to the press as one of the current frontline players of the instrument on the scene, having been greatly influenced by Ben Webster and Dexter Gordon, two highly innovative veterans of the saxophone. Ajayi assured the audience that his session would be exciting and exhilarating – to say the least. Arriving soon for the festival are South African guitarist – singer- composer and multiple – award winner, Jonathan Butler; New York based South African singing sensation, Somi – with international and local support line-up from Tunde Jegede and Nomadic Mystics; HKB FiNN Trio; Cleveland Watkiss; Trio Ivoire; Kasse Mady & ACM Ensemble with Nigerian support acts such as Yemi Sax and Kwitee & the Hot Seven on the bill. The line - up is prolific and star – studded. Jazz- related films such as Blue Note, Last Song Before The

War and Play Your Own Thing will be screened for the viewing pleasure of jazz enthusiasts and aficionados. Several venues have been lined up for the festival - including Oceanview Marquee, Oriental Hotel, German Consulate-General, AERA GQ Queen’s Drive, Ikoyi. Founded by Dolapo Ajayi and curated by Tunde Jegede, the Satchmo’s Jazzfest ’15 is set to offer Nigerians the finest of jazz from April 30 through to May 3, 2015 - in keeping with UNESCO International Jazz Day. Ajayi further explained that Satchmo’s Jazzfest will be a yearly event. “Each year, the Satchmo’s Jazzfest intends to present more than 50 dazzling performances in nearly 20 venues throughout the city of Lagos, making it the largest and most diverse music festival in Nigeria. From main stages at the various venues, to exciting performances at museums, neighbourhood clubs, restaurants, and hotels.

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

A bride carrying offering basin at Ikotun marriage registry

Couple and friends after a wedding at Ikoyi registry

At the den of extortionists Court marriage registries are places legally approved by law nationally and internationally for couples to legitimise their unions. Often times, because of the certificate that comes out of such places and the nature of patronage they receive, officials of that revered institution have turned the place into fertile ground to make so much money for themselves and their cronies. EZURIKE UGOCHUKWU reports LIFE IN THE CITY Now that the elections are overâ&#x20AC;Ś MY CITY MY WORLD Lagos is accommodating, says Adeyeye

OLUWATOSIN OMONIYI CO-ORDINATOR

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arriage registries in Lagos are characterised by beehive of activities, both legal and illegal. Many people throng the premises with too many motives. The environment and activities in the premises are money spinning venture for people that mill around the area. To have approval to carry out one form of transaction or the other in the premises is a relief and a guarantee for daily meal for the person. There are direct and indirect staff of the environment. Those days, precisely, in the military regime before the Fourth Republic, posting a state or federal civil servant to the Ministry of Justice was a way of telling the fellow- we hate you or you have been pencilled for destruction. In one of the states in the Eastern state of Nigeria, in the late 90s, the then Military Administrator of the state saw the patriotism and meticulousness in a Permanent Secretary in the state civil service as a threat towards his desire to corner the state funds meant for national festival then in 1998. He vowed to

Couples are not informed earlier that there would be such fees

deal with the permanent secretary. To make do his threat, the first salvo unleashed on the Perm. Sec. was to immediately withdraw him from the then bourgeoning Ministry of Information, Youths and Sports to the amply avoided and arid Ministry of Justice that could hardly boost of sound official cars, adjudged one of the least funded ministry. A ministry that often found it difficult to raise money for fuelling the official car of the permanent Secretary, who doubled then as the Commissioner for the ministry. The justice ministries all over the country then were synonymous with rickety cars that could pass for local transportation in the country, while its staff are the most penurious. Such is the level the military subjected the Justice ministries then thereby making them ineffective. No meaningful activities take place there then because the military had no regard to court orders and pronouncements. Then was the era of military. Thanks to civil rule that has gradually brought life and hope to

the Ministry of Justice. Little wonder some vocal voices have maintained that had the military not intervened in the polity in 1983, the country would have been very far away from its present adjudged backwardness. Both the Ministry of Justice and the present day Interior Ministry are today very lucrative, especially in Lagos and other cosmopolitan cities. Most staff of the ministries are now living in affluence. Some junior staff in such ministries have their private cars, and could now pay other bills, albeit money got through some unofficial means. A visit to the various marriage registries in the country, especially the federal marriage registry at Ikoyi Lagos could confound one. Any young bachelor, who thinks of going to the court registry as a cheaper means of marriage legalization might be mistaken. A prospective couple will be made to pay hidden fees even when they think they have paid for all the things expected of them. CONTINUED ON PAGE 22

Life | Mega City

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Marriage registries of extortion CONTINUED FROM PAGE 21

Before the joining is done, the couples are made to pay for documentation fee of N1,000. In most cases, couples are not informed earlier that there would be such fees on the wedding day. Having passed that first hurdle, the person joining the couples asks for donation immediately after conducting the marriage. Donations from N500 and below are usually not appreciated. When that is done, the official request for N2,000 meant for a mandatory scroll. The scroll will house the marriage certificate and preserve it from damage, they argue. Meanwhile, a smart lady from nowhere drops a bouquet of flowers for the bride. The couple are encouraged to take photograph with the flowers. Unknowing to them, it cost N2,000 to use those flowers for posing for photographs with them. The implication is that if you don’t have extra cash in your pocket, you get embarrassed. Also, a team of internally accredited or recognised photographers’ mill around the environment like bees swaming around honey, doing brisk business. While an exposure in other places is N100 or N150, it is N200 in marriage registry and non-negotiable. To be fair, the officials equally give couples the latitude to come along with their own photographers, if they do have, but what is not clear is whether that will attract its own charge. Other items such as table water and photocopier are done with about 50per cent above normal price. Mr. John Erekemo, is a first timer to the registry. He went as a witness to his friend, who did his marriage joining at the Ikoyi marriage registry recently. Erekemo may have been wallowing in ignorance of the wrong assumption that court transactions are cheap and affordable going by the receipts always seen around with people from courts. “When I noticed how sad my friend was, he called me aside to inquire if I had N5,000 to lend him, which I granted, to the tune of N4,000. He collected the money and narrated to me how embarrassed he was as levies he was never informed about, he has continued to pay. My friend told me that he has spent over N20,000, which he was never informed of when he came for inquiries. He paid N17,000, which according to the official of the registry he paid to, was to take care of all financial requirements for the wedding here in Ikoyi marriage registry.” He said. He added further, “before

now, I thought it could be cheaper for lovers who are beginners and financially indisposed to come down to the registry and have their marriage consummated. With what I have seen here, I am scared. It’s obvious to me that if I don’t have some reasonable amount of money, it’s needless approaching this court for my marriage joining as I had anticipated, that with a little token, I could walk down to this place with my fiancée to legalize our relationship while we move on to the greater realities of building a prosperous marriage. What has upset me the most is that they will never tell you about these hidden fees as you approach them for upA bride dancing at the registry date.” As New telegraph was made to understand by a staff of the Ikoyi marriage registry, who chose to be anonymous, they wed above 190 couples in a week at the registry. She said Saturdays come with special fees because, they are on special requests. “Weddings here start from Wednesday through Saturdays.” A wedded couple may not doubt the scheming in trying to hold them back at a certain stage of their exit from the registry for not obliging to the demand of such officials, who would tactfully and systematically hold them up from leaving the registry without paying a certain fee imposed on them. If such a couple insist that they have paid the fees demanded of them, they would be told that they paid government fees not their own (the officials) as such, ‘they should be settled.’ Security men are The security men at the venue are very watchful also to also watchful fish out those that would want to fish out fake to fake as wedded couples and snap photograph at the front of wedded couples the billboard in scripted “Ikoyi Marriage Registry” as many people will use such photograph after they might have faked the certificate to convince people and agencies that they have wedded at the federal registry. Some people are of the belief that some of the security men would still use this opportunity to advance for financial gains. Away from the Ikoyi Federal Marriage Registry, there are registries scattered all over local governments in Lagos State. At Ikeja, like many other registries in the Local councils of Lagos, one thing that seems same is the wedding days of Thursdays and Saturdays. Apart from that, the fees diverge. While Ikeja collects N7,500, other places like Igando/Ikotun Local council development Area collect N9,000 for Thursdays and N12,000 for Saturdays.

A wedded groom at Ikeja, who refused to give his name was heard kicking hardly on why he should be compelled to pay for 10 copies of photograph. “This is big exploitation. Would you choose for me how many copies of photos I will print from a single shot with your photographer? You said you will keep one copy and I will take the rest nine copies. Did I tell you I need nine copies? I will not pay. Take me to any place you like. That’s my position.” He insisted. Couples are mandatorily made to snap a shot with an accredited photographer of the registry, who will collect the money for 10 copies, out of which the registry claimed that they will keep one copy while the couple will take nine copies. Most of the photographers will not give the copies that day; they will promise to deliver it to the couple in the coming days at no extra cost once they are given addresses. According to one Mr Jonson Korika, he had to go to the Ikoyi registry himself before he could get the photographs. “Everything in the marriage registry is shrouded in deception to extort you. People are not relying on their salaries. Sorry for Nigeria.” He retorted. The mandatory buying of scroll though at a fee of N500 is in practice at Ikeja with other hidden charges. While there are group music entertainers as in other places, there was a solo thriller who uses his loudspeaker only to entertain people in anticipation for “Appreciation” (money). The pattern of marriage and the tricks of sniffing out money from couples at Igando/Ikotun marriage registry, are highly sophisticated and incomprehensible. The group of four grooms standing to be joined will be asked to face the audience while taking their oath likewise the brides, the parents or whosoever came to stand-in and sign for

the couples will be asked to bless the couples, after which they will make an offering. That is unique. Anyone who has an aversion for too many collections and offerings as practiced in many orthodox and some Pentecostal churches today will eventually see that replicate at Igando/Ikotun registry. From the unofficial fees of N500 in two places and other sundry charges in the registry office being extorted from the couple before they are cleared to partake in the wedding, the couple are given offering basins to dance round the hall and collect money from the people. This will be performed one after the other by each bride and groom that participated in the day’s joining. Couples are coaxed to part with some currencies after signing their registers along with their witnesses. The music makers are well also allowed to carry their basin round for their own offering while the ceremony lasts. As the couple try to step down from the elevated platform, they are once more swamped with another set of offering basin which they are expected to contribute to before they live the hall. As they respond to that, the musicians will be milling around them for more money. Pastor Dennis Apare, who came as a witness, frowned at the level with which people are compelled to pay and make offerings at the registry. “The level of extortion in this registry is incomparable. Inside the office where we went for documentation, I and my second were asked to pay some money at two different tables. At every stage in this ceremony, you will donate. Imagine the newlywed and his wife will carry basin one after the other for an offering that will be given to the officials. I have been to some other registries here in CONTINUED ON PAGE 23

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

A lift for farmers Determined to tackle poverty and reduce unemployment rate in the state, Lagos State Government is taking practical steps to ensure food security by empowerment of 6,678 farmers. Muritala Ayinla writes

eeding over 20 million residents with limited arable farm lands remains a herculean task for the Lagos State Government. Hence, the continued influx of people into the state poses a great threat to the food security and increases the employment rate in the state. Consequently, the state is faced with high rate of unemployment, crimes, street trading, child labour sexual violence against children, women and other vulnerables as well as other challenges of cosmopolitan cities. The challenges in the state are worsened by the problem of insecurity in the North-East, which many people believe contributed to the upsurge in the population of Lagos residents. As the population increases, the infrastructure is becoming increasingly inadequate while feeding the population become a herculean task for the government except certain proactive measures are taken to boost food production. But to actively explore the agricultural potentials in creating employment in the state, the Lagos State Government through its Agric Value Chains Empowerment, has embarked on aggressive empowerment of residents across the state. The beneficiaries were empowered in different agricultural enterprises such as aquaculture, poultry, artisanal fishing,

Items donated to the farmers

piggery, crop production, vegetable & arable crop, fish and egg marketing, butchery among others. Speaking at the presentation of the inputs to hundreds of the beneficiaries held at Johnson Agiri Agricultural Complex, Oko Oba Agege, the state Commissioner for Agriculture and Cooperatives, Prince Gbolahan Lawal, said the programme was more of poverty reduction strategy than boosting food production. The Commissioner said that

The income they make will enable them become self-dependent

with the All Progressive Congress-led federal government, there would be great reduction of poverty across the state, saying that the President-elect, General Muhammadu Buhari was eager to eradicate poverty through agriculture. In the programme, the government empowered the farmers in about 19 Agric Value Chains areas which kicked off during the World Food Day celebration. These areas include egg production, poultry farming, feed milling, aquaculture, fish production, pepper soup selling, fishing, pig farming, sheep and goat farming, meat production marketing, vegetable production, horticulture, cassava, rice production and coconut processing. Those in the agric value chains of egg production were giving battery cages, 120 point of lay birds, 20 bags of growers’ mash and 28 bags of layers each, while those in the artisanal fishing were giving out board engines, bundle nets, among others. About 37,700 crates of eggs were given to 754 beneficiaries who are into egg marketing while each of the 117 residents got 20 bags of fish feeds, 295 beneficiaries of pig farming collected ‘weaners,’ with 353 butchers also benefitting, among others. In addition to crates of eggs, other items distributed included cattle, coconut seedlings,

fingerlings, smoking materials for fish processing, rice seeds, fertilisers, among others. Lawal added:” The butchers told us during a stake holders meeting that there major challenge is capital. They said that they were buying their heard of cattle on credit. That was why we came with the initiative of giving a cow to four individuals. Last year they got 100 cattle this year they got 250 heards of cattle. Whatever income they are able to make from that will enable them to become selfdependent and stop buying at credit.” “The national government has promised one egg per day for our children in school. I don’t see why farmers won’t enjoy a lot in the new government. Is not farmers that will provide the eggs?” Today, our egg farmers are producing over 90, eggs today. Our objective is to many out of the poverty trap.” Also at the empowerment programme, 200 members of 20 different cooperative societies were empowered with 20 out board engines, 311 farmers who specials in piggery got pig feed. On the critera for choosing the beneficiaries, Lawal added that in determining the beneficiaries, special consideration was given to the vulnerable groups within the society who are desirous of vocations in agriculture and the artisanal fishermen cooperative CONTINUED ON PAGE 25

Marriage registries of extortion CONTINUED FROM PAGE 22

Lagos; they are over doing it here. “After my signing the register as a witness, I was asked again to donate. I saw how they were stuffing currencies in a polythene bag. What do they do with the money they collect? Are they collecting for the government or for themselves? With all the money they collect, no stand-by generator to power fans in the hall and no public address system. We were suffocating in the hall but all they were interested in was in drying our pocket because we came to their registry.” He regretted. The rule of the registry is 21 days within the period the name of the intending couple will be published on the notice board to give room for anyone who has any reason against the marriage to declare so before the wedding. On account of the above, one Mr. Chukwu Ibezim, claimed that he paid exorbitantly for not completing the 21 days. “Because it was remaining three days to make up the official 21days notice period, and I needed it within that period (18th day), they asked me to pay N40,000. Upon that, at every step here, you are asked to bring money. They will come and carry me because I have come here to wed.” He muted.

A groom carrying offering basin

Couple at a registry

The drummers that enliven the occasion use all forms singing and praising of the couples whom they must have heard their names mentioned while the wedding progressed. They make thrilling music with their native instruments-beaded gourds (sekere), native drums and gongs. The mellifluence of the music can intoxicate highly elated persons to giving them their reserved money. From all indication, they are accredited to perform in the premises. At Ikoyi federal registry, they have ‘FMR’ tagged on their uniform. They give commission to the registry authorities as was ex-

perienced at Ikotun where a member of the music group came and dropped some currencies on the registrar’s table immediately after collecting offering from the couples. Though, they are not officials of the council, they have a particular room beside room A51, the External Auditor’s office, where they gather and probably collate all they have collected at the end of every section of the marriage as the couples are grouped in fours. Mr.Asoropa J.T (Sir Tee Investment) the leader of the music group said he enjoys playing it. “I enjoy this music business a lot. I have my music band.

Moreover, I’m the choir master of my church. I’m happy also the way people appreciate our work. Through this thing we do, we feed our families. This is our talent and we must eke out a living out of it. We cannot go back to say we have no job.” Ikoyi registry starts as early as 8.00am. Ikeja starts around that time while Ikotun and some others start between 9.30am and 10.00am. One other feature of the registries is that they have a register where couple enter their names as they come. It is on that list that couples are attended in the order which they come- first to come will be the first to be attended to. However, our correspondent who was at the Ikoyi registry earlier before 7.00am observed that there were about four names already on the list. Before the ceremony could start, the first two names have been obliterated and new names written on them, creating the room for the suspicion that an official of the registry may have written a pseudonymous name to be replaced by any couple that may be willing to pay their fee to be given an opportunity to have their names in place of such fraudulent names. Many people have no doubt that is the practice.

Life | Mega City

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Celebrating the ‘Lord of the border’ They made a statement to discerning voices and well-wishers of their community- Pengbo of Badagry West Local government Area of Lagos State. The statement was that they are united and determined towards a goal as a border community and that they are true ambassadors of Nigeria. Last weekend, they celebrated the five years on the throne of their Baale- Chief Timothy Ayeleso Ganjo, Tohento 1 of Seme Border. EZURIKE UGOCHUKWU was there

s early as 10.00am, security operatives had positioned themselves within and outside the Palace. Various women dance groups were already enlivening the environment. Some indigenes of the community were already seated while some were seen running around to make sure things were positioned as planned. The ceremony swung into full gear at 11.45am, when the Baale, in company with other Baales and his Olori (wife) majestically walked into the arena, all clad in white lace. Many guests were seated before this time. The roll call was more of high class traditional rulers from Lagos, Benin Republic and Republic of Togo. There were other Baales from within Lagos and Ogun State. High ranked officers of the National Drug Law Enforcement Agency (NDLEA), the police. Other Law enforcement agencies that had not arrived as at the takeoff time were trickling in as the ceremony progressed. Pengbo community is a border community, playing host to federal agencies such as the Customs, the Immigration, Nigerian AntiBomb Squad, NDLEA, Nigerian Agricultural Quarantine Services (NAQS), NAFDAC etc. Nationals of other countries are there, many other ethnic groups in Nigeria (Hausa, Igbo etc) were there. Members of Winners Chapel Church were conspicuously represented in large numbers to show solidarity to the Baale who gave them a space within his compound for their religious activities. In his welcome address, the Palace secretary traced the origin of Pengbo Community of Kweme Kingdom to their forefather called Melody, who stood as the leader of their people-the Guns. Melody (Ntu godo), fought a war with Toffa from Cotonou, Benin Republic. After the war, a mast was built, indicating a clear boundary between the Epengbo (Pengbo) people and the Cotonou people to remind them whenever they go beyond that mast that they are in a foreign land. Ntu godo moved further to trace out a dry land because from that boundary point and around were water. He found the land as a farm land and named it Kwame. Ntu godo was the first Baale of the Kwame kingdom. Earlier, the chairman of the occasion, His Royal Highness Alasipa of Asipa land, Chief Ayani,(worldwide Ogboni fraternity) extolled the outstanding qualities of the Baale, whom he compared with the late Chief Obafemi Awolowo, whom detractors could not allow to achieve his goodwill for his people. He prayed for peace in the land and enjoined the people of the community to support the Baale in his laudable efforts. In his speech, the celebrant, Ganjo, expressed his gratitude

to God for making the ceremony a reality, irrespective of all efforts made to scuttle it. “I am overwhelmed with joy when I look round to see the large turnout to this ceremony. I cannot thank enough the Obas from Benin Republic and Lagos, Baales from Lagos and other states. Our deserving award recipients- the law enforcement agents that have stood by us in the thick and thin. My youths and my entire community have been wonderful. I owe all of you immeasurable thanks and promise to do more than I have done in the years past. I will not forget to thank our Christian brothers here led by the Christian Association Chairman Badagry West, Rev. J.A. Oke and our Muslim brothers.” Ganjo reminded the various levels of government to reciprocate the huge benefit they make from Seme border. “ As we thank state and Federal Governments, we remind them of our various needs such as electricity that has eluded us in the last eight years. We need pipe borne water and proper naming of our streets. Government makes billons of naira from here, yet we remain backward in the amenities of life,” he said. Many cultural dances featured at the ceremony; prominent among them was the Des Zangans d’ekpe masquerade from Benin Republic, a masquerade that could change to a small fish and tortoise while dancing. Highpoints of the event was the presentation of merit award to deserving Nigerians. Among the recipients were Mr Udo-Oton Essien, NDLEA officer in-charge of Seme and Badagry area; Chief Dr. Aderemi Adesino and Pharmacist Chief Orajekwe, a pharmacist, among over 20 others. Speaking after the award, Essien expressed joy that there is a good working relationship between his agency and their host community. He congratulated the community for having a Baale who is always ready to work with government agencies in his community. “Thank God, our job has been made easier because the community where we walk is appreciating us. Pictures don’t lie; this community called me to give me and by implication my organisation an award of excellence. We are motivated to do more; we are going to show stricter drug control within Seme border area and its environs. We will make it difficult for drug trade to thrive in this area. We will frustrate the drug traffickers; we will make things difficult for them. So far, so good, we have made a lot of arrests, and we have made so much seizure.” He further said; “I wish the Baale a very long reign. The community is very lucky to have this kind of Baale. This place is a border community. We are not here because of Seme really. We are here because drug busi-

Baale Ganjo during the ceremony

Baale Ganjo receiving a portrait from Pashi youths

Our Baale is loved by us because he is doing well. We are solidly behind him

HRH, Ayani, Alasipa of Asipa Land with of his aides

ness is a trans border business. Many people come through the border to bring drug into Nigeria and also take drug out of Nigeria to as far as western part of the world. I am calling on the community to continue their support to NDLEA and also call on Baale to continue the way with which he has been serving.” The woman leader of the community Ayelowa Benny- Iyalaje of Pengbo, said, “The way the women came out in their large number shows that our Baale is loved by us because he is doing well. We pray to God to give him long life on the throne. We are solidly behind him.” Mr.Frank Itara Itobe, a cabinet member, who according to him, is privileged to be a cabinet member because he is not an indigene of Pengbo. “I’m a clearing and for-

warding agent based here. Over 20yrs, I have been in this community. Since I came to know our Baale, he has been wonderfully good. This community has recorded a lot of success in the last five years. On behalf of myself and other cabinet members, we wish our Baale many more years of reign.” Other goodwill messages came from Baales- Chief Emmanuel Sana Boglo Baale of Boglo community and -Chief Eyilofu Baale of Pashi community. They felicitated with the Baale whom they see as a ‘senior colleague. The winners Chapel church through Brother Mbonu Camilus thanked God for the kind heartedness of the Baale, who he said is a rare gift to mankind. “We pray that God give him long life to continue in his good work.”

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Reckless parking of commercial buses and okada riding at Cele Bus-Stop, Oshodi-Apapa Expressway

Now that the elections are over… Elijah Samuel

or a vast cosmopolitan population like Lagos, it is usually a great challenge to administer the socio-economic activities of the citizenry. It is with this understanding that successive governments in the state, especially since the return of this democratic dispensation, have formulated policies that are intended to regulate socio-economic and political activities within the state. Although many of the laws and policies enacted by the outgoing government of Governor Babatunde Fashola to regulate socio-economic activities and sanitise the environment, met with a torrent of outcry from not a few residents across the state, these laws have somewhat proved an effective tool in instilling relative sanity in the metropolis. But just a few months before the 2015 general elections, right from 2014, for what most people have understood to be a strategy for political gain, there has been a noticeable relaxation in the implementation of environmental and traffic laws, which among others are meant to restrict the running of commercial motorcycles from some roads, control traffic and ward off unlawful trading activities in unapproved areas within the state. Thus, traders, commercial motor cyclists and drivers are having a field day in conducting their activities with impunity. Now that the ploy of deliberate relaxation of laws and policies for political gains seem to have worked for the ruling political

party, All Progressives Congress (APC), it is expected that the government would have gone back to the pre-election era when sanity was installed across the metropolis. But during a post-election assessment undertaken by New Telegraph in some areas of the state, it was observed that street trading, conducting business activities in unapproved areas, reckless riding of commercial motorcycles and driving of vehicles in a way that does not give regard to compliance to traffic laws are on brazen display around the metropolis. Also, the safeness and sanctity of lives which the government intends to uphold through the provision of numerous pedestrian bridges across the state have now been effectively voided by the pedestrians’ utter disregard for pedestrian bridge usage. Ironically, these condemnable activities are conspicuously displayed under the watchful eyes of monitoring agencies like the Kick Against Indiscipline (KAI), State Environmental Monitoring Agency, Lagos State Traffic Management Authority (LASTMA), the Nigeria Police and other relevant outfits which are saddled to enforce the sanity and inculcation of decent ideals that are features of a disciplined society. The seeming tacit collusion of these state officials and the Nigeria police in the perpetration of outlawed environmental and traffic activities in the state is all the more complicating. This proves to defy whatever solution that may be proffered to the dilemma. However, Lagosians are not

pleased with the seeming complicity with law enforcement officials to thwart lofty policies which had remarkably helped in enthroning some air of sanity in a state that is esteemed as the centre of excellence. Olapemi Abass, a distraught resident, lamented that “it is very unfortunate that we still haven’t attained high moral standard through which we can apply the right attitude to everything we do in this country. Although there is no basis for the perpetration of unwholesome behaviour by citizens, especially as identified and outlawed by the government, it is nauseating when you find the government that is expected to chart the direction for citizens trivializing the essence of governance and subverting the laws.” He continued that, it was absolutely not right for the government to manipulate the citizens for selfish political interests in the way they are seen carrying out their duties in many parts of the country. “The one done in Lagos is very well understood by all. For instance, the proliferation of traffic laws was in good faith although it attracted some pockets of outcry. But we have witnessed the kind of sanity and orderliness that have been introduced on our roads, the prominent one being the restriction placed on the operation of motor cycles, popularly called okada riders in some parts of the metropolis. Now, these okada riders are back on those restricted routes and highways, and the government is not doing anything about it because the law enforcement agents are looking the other way while this reckless-

Laws made for the good of the society should be sacrosanct

ness last,” Abass said. Just in time, a KAI official who declined to give his name was accosted around Cele BusStop, Oshodi-Apapa Expressway on what is responsible for their recent tardiness in combating environmental offences like in the past. “We are around and working. But as men under authority, we have to carry out our functions according to orders given to us from above. Sincerely, we are trying as much as we can to curb lawlessness and indiscipline in the Lagos metropolis,” he said. The KAI official evasively posited, “it is not the way the public perceives that we have been compromised in enforcing compliance to environmental laws. You know the people at times, can be so very difficult to handle and one needs to handle them carefully so that one doesn’t seem to be trampling on their right. Still, we follow orders.” However, Barrister Wahab Dako, a Lagos based lawyer suggested a way forward. “Now that the elections have come and gone, the incoming government led by Akin Ambode, should immediately put machinery in motion or revive the ones already in place for the implementation of our laws. If there is anyone that needs to be replaced in the authority, he can go ahead and do that. The present government doesn’t have the time to ensure the implementation of these laws anymore in the state because the incumbent governor, Babatunde Fashola is already looking beyond the state: he’s now focused on the mission of national politics as a result of APC forming government at the Federal level. So, the advice for Ambode is to heed the wakeup call and start the implementation of these laws even much better than Fashola did during his time,” Dako said. He added that the laws made for the good of the society should be sacrosanct and dispensed without fear or favour. “We are a difficult people to control. A government that knows its onions will not mind whose ox is gored. We know what it cost to enact laws, and these laws are not there for decoration: they should be implemented to the letters. The new government should not mind what the people say but rather be guided to do what is right. Laws are made for the good of the people, and on no account should anybody compromise the laws because of consideration for the purpose of gaining votes during elections. People that know what is right will definitely vote for the government that is doing what is right.”

Tackling poverty, food scarcity CONTINUED FROM PAGE 23

societies. The chairman of Lagos State Butchers Association, Alhaji Bamidele Alabi, said the empowerment has a long way in enhancing the standard of living of his members. According to him, “The empowerment has made many of members to have the capital to purchase the cattle themselves. This is because our members who buy on credit

from Mallams will now have capital to buy with money.” On his part, Atube Ndukwe, 82, said the inputs would, no doubt, boost his productivity. The septuagenarian, who hails from Delta State said he had been farming for over three decades in Festac. “With this, I will definitely do better this year in term of farm produce which means I will have more produce to sell. I thank the government

for looking into the direction farmers regardless of the nature of the state. Meanwhile, Lawal said that over 90 per cent of the food demand in the state comes from other states, saying that the government targets 25 per cent food production by 2018 as against the 10 per cent it currently produces. “Apart from ensuring that food items consumed in the state are of high quality and hygienic, the state embarked

on the provision of food storage facilities to reduce the rate at which food perishes owing to lack of proper food storage mechanism,” Lawal added. The Commissioner added that in line with the global practices of advanced countries, the state acquired 84 hectares of land in Okinni, Osogbo in Osun State where it started palm processing for the production of high valued vegetable crops for Lagos market.

“In addition, 1,000 hectares of land was acquired at Ago Owu also in Osun State, for agricultural purposes and 500 hectares of land at Eggua in Ogun State, for rice production. Knowing the challenges of being the third largest mega city in the world after Tokyo and Bombay, with very minimal arable farm land for farming to feed the increasing population, we have no option than to take the steps taken,” Lawal said.

Life | Mega City

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Our expectations from Ambode, by Lagosians In the unfolding political dispensation, the people in the Centre of Excellence seem to have been suddenly jolted to the understanding that â&#x20AC;&#x2DC;Democracy is the government of the people by the people and for the peopleâ&#x20AC;&#x2122;. As such, they have expectations from the government that is believed to be holding power in trust for them. ELIJAH SAMUEL captures the ir expectations. Godswill Moses - Information Technologist he government must sincerely consider ways to truly diversify the economy. More attention should be given to the agriculture, mining and manufacturing sectors. Unreasonable importation of certain commodities should come to an end. More efforts geared toward poverty alleviation programmes should be encouraged and funded. The ordinary man is not even looking for three square meals a day any more, just two is okay, provided there is regular power supply, good roads, quality and affordable medical services, free pipe borne drinking water, improved education standard and school system devoid of unreasonable and avoidable closures occasioned by frequent strike actions by teachers/lecturers and unrest by students, etc. Efficient and well managed transport system and good road networks to ease movement, encourage trade and reduce death situation is a sincere longing of the populace. Lagosians will obviously expect to have a society where the rule of law is respected and the judiciary is allowed to independently adjudicate the law without fear or favour. The law enforcement agencies, the environmental protection agencies, will be expected to have better platforms and conditions to deal with corrupt practices at various levels without prejudice and partisanship. Public officers like the governor, deputy governor and commissioners will be expected to declare their assets.

Evelyn Ugbe -Teacher Every sane man has the intrinsic capacity to know what is good from what is bad. The new governor, Ambode, is a man who has the capacity to know what is right to do. As a governor, he moves round and see things happening around; it is also believed that the government also has a means to monitor activities in the state and get feedback. When feedbacks are gotten, he should take the necessary steps to put things in their right places. In essence, the governor should not be too far from the people. John Abayomi- Business Administrator The outgoing administration has tried to some extent, but the new administration should be ready to show strong presence in its effort to deliver dividends of democracy, particularly in those local governments outside the mainland. These local governments include all other ones outside Mushin, Surulere, Yaba, Oshodi, Ikeja and Apapa. According to the manifesto of the party, the party promised a meal per day for the children. Thatâ&#x20AC;&#x2122;s a good policy but that alone does not make any impact in the state education sector if attention is not focused on the problem of ageing teachers with a view to ensuring quality of teachers. If the teachers are not fit in all ramifications to impart on the pupils, it amounts to waste of resources and effort. Some of the old teachers should be taken into administrative roles while the inspectorate arm of the ministry should be revitalized, so that they will be able to monitor effectively some of the young

Moses

Abayomi

Afolabi

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Ugbe

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teachers that the government needs to employ. This is important, so that cash will not be wasted on feeding while the fundamental problem of teaching is not looked into. The government should build more hostels to solve the accommodation problem of students in Lagos State University, LASU, where we learnt that it is only female students that are provided with accommodation. This will enhance a 24 hour learning of all students on campus. Also, all the ongoing projects should be completed quickly, so that the suffering of the people living or travelling on that axis can be ended. Again, the government should try to reduce the toll fee being collected at the toll plaza at Lekki. Thank God that the APC is controlling both the state and the centre: they should devise a way to ensure that the fourth Mainland Bridge project, which has been impossible in the last 16 years can now commence. The government should also look into the accessibility of health facilities in the state. They should consider those residents that are not working but who may have need to access medical facilities in the state. Again, the mother and child health centres and general hospitals should be replicated and adequately equipped in all the local governments. Right from the days of Asiwaju Bola Tinubu, most of the sporting facilities in Lagos have been turned into social event centres and not recreational centres that they are meant to be. Now, the government should ensure that accessible sporting centres are created throughout all the local governments in the state. Orji Okoro- Fabrics Merchants The new government is expected to govern the masses with a token of affection and not trample on them as if they are disposables. The issues of infrastructure like roads, electricity, and the BRT system under transportation should be looked into. It is not good that BRT collapses after the exit of the present administration. Olumide Afolabi, Chauffeur Let the positive change that has been the sing-song of APC be translated into action in the areas of power supply, eradication of fuel scarcity, consolidation of security, market location and administration. Let the residents

truly enjoy the benefits of democracy. Chukwujeku Onwughalu- Club Owner The new administration should look into the issue of indiscriminate tax collections in the state. Ambode is an accountant; let him see what can be done to eradicate multiple taxation in the area of businesses within the state. The masses are really feeling the brunt of multiple taxes in the state. In the area of security, Fashola has tried but Ambode should consolidate the gain of the present by strengthening neighbourhood security with special outfit whose personnel will be deployed into all the streets, monitoring socio-economic activities which they will update the police if any untoward development is suspected. The new administration should also pay attention to education, especially the public primary schools. Fashola has tried in the area of physical structures (buildings) but the quality of what is being taught is nothing to write home about. Many of the teachers are not supposed to be there again. Necessary overhaul should be carried out with a replacing old teachers, some of who may not be tuned to the dynamics and modern trend; and providing the needed learning facilities. All these are necessary to update our educational system, even if it means people, paying at the end of transforming innovations, we will pay for the quality. Tunde Faparusi - Business Administrator They made reasonable intervention in the infrastructure across the state. Power is our major challenge in the state. This has contributed enormously to economic depression across the country. The government should also ensure that the issue of unemployment is drastically reduced. This can be reduced through agricultural programme of farm settlements which should be established across the vast lands that exist across the state. When necessary facilities are provided in these settlements, people will be encouraged to move in. The issue of housing, which will be affordable by the common masses, should be addressed. Workable policy should be instituted in this regard across the state but the government should display exemplary leadership in the provision of housing scheme that will be truly affordable.

Nurudeen Olayori- Businessman It should be a government of continuity, continuity of all good projects that are meant to alleviate or totally eradicate hardship on the residents. The new man should consolidate on the structure. Niran Balogun - Farmer I want the new governor to look into the area of transportation and see how high transport fee charged can be reduced. In doing this, he should see how to wipe out the indiscriminate levies and dues taken from transport operators by different unions in the state. They should also increase the government buses on the road. Adequate attention should be given to agriculture now. This will ensure employment provision and take care of the dietary needs of the teeming population and will ultimately enhance the economic benefits to the state. They should also ensure that education is within the affordability of the masses. When a population is well enlightened through a living educational system, tackling unemployment will be handled with a deft approach. Kayode Salako - Clergy The government should touch the people in the area of housing. The outgoing government has made efforts in provision of houses through various schemes. But the masses cannot access those houses. The question we often ask is; who are those accessing those houses? Governor Ambode should look in to this and make housing affordable for the masses in the state. I believe there should be a synergy between the state and Federal Government being controlled by the same party which should be deployed to address power problem in the state. This will address the health hazards associated with individual power generation through the indiscriminate use of generators. We expect continuity and completion of major projects across the state. Badagry Expressway road project should be hastened up. The police in the state should be provided superior fire arms than those of the robbers. In addition, the government should step up close monitoring of all the local governments in order to ensure that they are working and delivering. They should be alive to their civic responsibilities.

Life | In The City

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Our Expectations

Lagos is accommodating, says Adeyeye Ayo

Juwon

Mayowa

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Shakur

Subscribers speak out on DSTV’S price hike It is difficult to swallow. The burden of pay-TV in Nigeria as represented by South African firm Multichoice, owners of the DSTV brand is one that has left Nigerians astounded. As much as some have boycotted the cable network, others, mostly men are ready to pay the price. ADEBANKE FALADE captures the mood of the people Onasanya Mayowa-Sociologist t is senseless and it’s unacceptable. I really don’t know if it’s in connection with the Xenophobia situation in South Africa, but at a point when most people are on a cable network, it should be cheaper. I subscribe for the complete package; I was paying N11, 000 but now it is N13, 000. I came to know about the increment at the point of payment. I was too shocked but I decided to pay because I was already at their office. If this increment persists, I will not renew my subscription. I believe we should switch to payper-view system because it would be cheaper for most Nigerians. I can decide to watch any channel at any point in time. It is sheer exploitation coming from a company that is not indigenous, from a company that is killing fellow Africans. Our government is insensitive to our plight. I’m very sure they get a share from every subscription paid for by Nigerians. So, whatever happens to us is of no concern of theirs.

Ifeanyi Okafor-Businessman The increment to me isn’t the best move right now, seeing the economic situation of the country. It isn’t easy making money; a lot of people are struggling to make ends meet; paying the subscription fees for some people is a luxury they manage to afford. It is now increased. I subscribe to the Premium extra package, it used to be N11, 650 and now it’s N13, 980. I was notified about the increment through my email. I strongly believe that the Multi-choice company should consider pay-per-view for Nigeria; it is pay-per-view in South Africa. Why can’t it be applied here? Why should the same company use different means of payment in South Africa and in Nigeria? It is a serious infringement on our human rights. Why should your unit run when you are not using it for a period of time. The stations and shows are entertaining and that’s why Nige-

rians are continually subscribing to it. The Nigerian government is lenient about a lot of things, this included. Wale Ashiru-Marketer I find the increment to be very abrupt, and extremely annoying. I vote for pay-per-view; we should pay for what we watch, and not all the channels. I will not renew my subscription after this month. I believe that football is what has made most guys continue to subscribe, despite the increment. I am of the option that the court should have been firmer with the decision they made. I vividly remember reading about the hearing in court, Multi-Choice was told to postpone the implementation of the increment until the court hearing, but, they still went ahead to do as they pleased. This shows a serious disregard for our authorities. The Multi-Choice company should know better than to go against a judge. We need the people that will protect our interests, not people that will take advantage of us. The judge presiding over the case should take proper action, punishing DSTV for blatantly disobeying an order. Juwon Shodunke- Engineer This increment doesn’t consider the people who cannot truly afford the new rates; they didn’t consider those who cannot afford it. The judgment should be firmer if it wasn’t before, and MultiChoice should be disciplined to avoid a repeat by any other organisation. Although, I renewed my subscription because I have to watch my soccer matches, the increment is an infringement on my rights, but I was consoled by Champions League and Premier league matches. Ayooluwa Abisoye-Teacher The increment is needless; they are trying to exploit Nigerians-as usual. They can afford to implement pay-per-view as they do in South Africa but they won’t, be-

cause Nigerians hardly stand up for their rights. They just take to social media. I used to pay for the full package, but I stopped after the increment. I’m considering switching packages, but I’m still weighing options. The Nigerian court system has proven incompetent with this issue, but we can’t also completely blame the court system. Nigeria doesn’t have good consumer protection programs. Aramide Falade, Lawyer I believe everyone has a choice. It is either you subscribe or you don’t. I don’t believe any right has been infringed on; we have the right to life, freedom and association etc. I don’t see how the increase has infringed on any person’s right. Presently, if we are being honest, the cost of everything is going up, even Cway bottled water has increased the cost of water. Multichoice was wrong in their approach. No one has the right to go against a standing court order. Their action was not justified. If you have issues with a court order, there is a legal way of showing your displeasure. You appeal or you apply to set it aside. The persons that obtained the injunction should commence contempt proceedings which I believe they have. Modupe Olaoye - Businesswoman I use GOTV. They have also increased the price, from N1, 500 to N1, 800. I don’t think what they did was wrong. It is a private business; just that the increment should be reasonable. The government increases the price of fuel when they want. They don’t consult the people. Why should a private company be treated differently? Mojisola Ogunsola - Pharmacist I was very happy when I heard about the court injunction. I called the call centre, and it was the new price they gave. I was very angry, and I delayed payment. I was paying N7, 000 before and now I am to pay N9,000.

Stories by Ruth Okocha Adeyeye, an indiKinayode gene of Ondo State, living Lagos said: “The city of

Lagos is for everybody and very accommodating. It is a place where one is active to achieve something; I love the life in Lagos. Adeyeye For the election, I thank God because I believe there was a divine hand in the election. I like the change which took place because, it has always been one sided. With the new government, I am sure the economy of this country will improve. I want the new government in Lagos to restore power supply. It is something I have enjoyed from childhood, and I want constant power supply which was there in the 70s and 80s to boost our businesses. It has been observed that Lagos is turning from what it used to be before, people are either self-employed or employed but now, Lagosians ride motorbikes, tricycle otherwise called kekenapep to make ends meet. Jobs like electricians, radionics are gradually fading out due to inadequate power supply. I expect the new government to look into it. Another thing they should look into is price control; they should stabilize the price of commodities so that it can be uniform. I expect them to look into the issue of unemployment, build infrastructure. They should reduce corruption and also enable every common man have food on their table. They should also make education affordable in a conducive learning environment. If they can do these, then this state and country as a whole will be at its best.

I love the hustle and bustle of Lagos – Barnfield ohn Bar nfield, Special JInternational Adviser to the Dean of Education

of Lambton College, Canada, said that the world was proud of the peaceful election conducted in Nigeria. “Personally, I’m very happy Nigeria conducted its election well despite threats Barnfield of war. Nigeria has gained great reputation due to their great achievement in the elections. I heard the election promise of the presidentelect and I hope the new government will take the country to change and transformation will take place. With this new government that has assured security and safety to the citizens, with security intact, the door for tourists to visit the country will be open because their safety will be guaranteed. If the president-elect can keep to his promise, I know Nigeria will be transformed. I also commend the president for accepting defeat and keeping the citizens’ safety to mind. Apart from the election, Nigerians are good people and I enjoyed working with them. In fact, I am friendlier to Nigerians abroad than other African countries. I have travelled to many countries but I love the hustling and bustling activities in Lagos. I love the traffic unlike in Canada where everything is very organized; I love the food, the culture and the clothing. The only challenge I have in Lagos is that it’s too hot compared to Canada where I come from.

The Mega City

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

UPCOMING EVENTS

Lagos SHIFT 2015 Season 4

Organiser: THE SHIFT INITIATIVE Date: May 2, 2015 From 7:00 AM - 6:00 PM Venue: TBS Cricket Ground Lagos Island, Lagos Nigeria

OUT on a LIMB 2015

Organiser: Startup Grind Lagos Date: The IREDE Foundation Date: May 1, 2015 From 7:00 AM - 10:00 AM Venue: YMCA Building 77 Awolowo Road Ikoyi, Lagos Nigeria

BUSINESS ANALYSIS CERTIFICATION Organiser: BNET LEARNING NIGERIA Date: May 2, 2015 From 9:00 AM - May 10, at 5:00 PM Venue: SEMINAR ROOM 4, NECA HOUSE (BESIDE HALLMARK SCHOOLS)

HAKEEM BALOGUN WAY BUSINESS DISTRICT, ALAUSA, IKEJA, Lagos, Nigeria Sat, May 2, 2015 at 9:00 AM - Sun May 10, 2015 at 5:00 PM (WAT)

IIBA NIGERIA - LAGOS CITY CHAPTER

Organiser: International Institute Of Business Analysis,Nigeria Chapter Date: April 30, 2015 From 6:00 PM - 8:00 PM Venue: The Villa Angelia Boutique Hotel 20, Oju Olobun Street, Off, Bishop Oluwole, Victoria Island, Lagos, Nigeria

The Lunch & Learn Session Organiser: CWiniGroup Limited Date: April 30, 2015 From 1:00 PM - 3:00 PM Venue: WiniGroup House 6, Babatola Close, Off Obafemi Awolowo Way Ikeja, Lagos Nigeria

Lagos Motor Fair

Organiser: BKG EXHIBITIONS LIMITED Date: April 30, 2015 From: 10:00 AM -May 6, 2015 at 5:30 PM (WAT) Venue: The Federal Palace Hotel 6-8 Ahmadu Bello Way Lagos, Nigeria

MEGA CITY EVENTS 75th birthday lecture in honour of Apostle Hayford Alile at Julius Berger Hall, UNILAG, Lagos

L-R: Chairman of the occasion, Mr. Osaro Isokpan; Mrs. Josephine; celebrant, Apostle Hayford Alile; his wife, Pat and Mrs. Tonia Igiehon, at the 75th birthday lecture in honour of Alile in Lagos…yesterday.

Managing Director, IGI, Mr. Rotimi Fashola (right), with Executive Director, Mr. Ken Aigbinode…at the event... PHOTOs: SULEIMAN HUSAINI

Wedding between mr. and Mrs. apelehin ayodele

Mr and Mrs Apelehin Ayodele with friends at their wedding held at the RCCG Glorious Area, Orile, Lagos

The couple during their traditional wedding

fIrst Quarter Capital Market Committee meeting in Lagos

L-R: Vice Chairman, CMSA, Mrs. Yinka Edu; Deputy Director, Legal Dept, SEC, Mrs. Anestasia Braimoh and Executive Officer, CMSA, Lady Elizabeth Osoka, during the first Quarter Capital Market Committee meeting in Lagos PHOTO: SULEIMAN HUSAINI

Executive Commissioner Legal and Enforcement, SEC, Sa’adatu Bello; Acting Director-General, Securities & Exchange Commission, Mounir Gwarzo and Executive Commissioner Corporate Services, SEC, Hon.Zakawanu Garuba, also at the event PHOTO: SULEIMAN HUSAINI

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Finance

World Bank/IMF: Diversification, reforms key

The Investor

Money

Maritime

Non-interest income boosts banks’ 2015 Q1 earnings

Firm seeks maritime ministry

Cost reduction as catalyst for capital market growth

Business What's news

Disquiet over unpaid N500bn govt contracts Building and civil engineering contractors in the country are worried over their unpaid contracts worth over N500 billion by both the federal and state governments and the implications to their businesses if the bills are not settled before a new government takes over next month.

p.30

Technology firms to drive banks’ growth –Report Nearly 40 per cent of bank heads globally plan to enter into joint ventures next year to attract new clients and access new technology, according to Price Water House Coopers’ (PwC) report on African financial services.

p.30

L-R: President, The Institute of Chartered Accountant of Nigeria (ICAN), Chidi Ajaegbu; Chairman, First Bank Mortgage, Babatunde Odunayo and Vice President, ICAN, Olufemi Deru, at the Institute’s annual dinner and award in Lagos.

DISENCHANTED

Workers are furious over appointments, promotions and discipline

Bayo Akomolafe

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

orkers of the Nigerian Maritime Administration and Safety Agency (NIMASA) have petitioned the agency’s Director-General, Patrick Akpobolokemi, accusing him of “setting the agency on the path of total destruction.” They also alleged that the DG conducted the affairs of the agency as if it were a personal or private dealing. These were part of the petition sent to the Secretary to the Government of the Federation (SGF), Head of Civil Service of the Federation, Chairman, Civil Service Commission,

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

NIMASA officials move against DG

Allege misconduct Agency keeps mum Chairman, Federal Character Commission, Permanent Secretary, Federal Ministry of Transport (FMOT), Permanent Secretary, Ministry of Labour and Productivity, Chairman and members of NIMASA Board of Directors. Besides claiming that the DG violated the civil service rules and guidelines, the workers said that “the style of management brought into the agency was alien to both public and private sectors’ personnel management practice in Nigeria and elsewhere.”

Prodded by our correspondent to comment of these damning claims, the agency’s Deputy Director, Public Relations, My Isichie Osamgbi, neither responded to telephone calls nor text messages and emails sent to him as at the time of filing this story.

GL 08 to 17 Categories of workers stagnated by the consultant

The workers declared that Akpobolokemi had jettisoned public procedures and relevant establishment regulations in decision-making process. They accused the director general of paying the phantom consultancy firm a whacking sum for the job that could easily be undertaken by the human resources department and establishment committee of the board of directors” of the agency. They also alleged that AkCONTINUED 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. 24)

USD . . . . . . . . . . . . . . . . . . . . . . . N219 Pounds . . . . . . . . . . . . . . . . . . . N320 Euro . . . . . . . . . . . . . . . . . . . . . . N238

l Foreign Reserves – $29.505bn as at 23/04/2015

Source: CBN

EXCHANGE RATE (Interbank as at Apr. 24)

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

Business | News

Cash crunch

Contractors send SOS to the Federal Government Dayo Ayeyemi

uilding and civil engineering contractors in the country are worried over their unpaid contracts worth over N500 billion by both the federal and state governments and the implications to their businesses if the bills are not settled before a new government takes over next month. As a result of the fall in prices of oil at the international markets, which has cut Nigeria’s revenue by 50 per cent, there is no sign that the Federal Government will pay the contractors soon. Oil prices, which rose to N110 per dollar last June, currently trade at $64.83 per barrel. Expressing concerns over what he called unpleasant situation, President, Federation of Construction Industry (FOCI), Mr. Solomon Ogunbusola, said that the Federal Government alone is indebted to its members to the tune of N500 billion. He said that the magnitude of indebtedness in the construction industry was worrisome, noting that over 100 registered member companies are now utilising 40 per cent of their staff strength as a result of mass retrenchment. While stressing that FOCI had contributed significantly to the construction of modern Nigeria since its incorpora-

Disquiet over unpaid N500bn govt contracts tion in 1954, he noted that many construction firms have been on the verge of collapse as a result of the huge debts owned by the federal, state and local governments. The huge debt, he reiterated, has led to loss of jobs within the industry. If the situation is not arrested on time, he said that it could lead to further loss of jobs and eventual collapse of the

pobolokemi was populating the agency with his kinsmen and elevating them over and above their qualifications and years of experience. The workers noted that the current disposition of directors in the agency was skewed towards a particular part of the country, negating the Federal Character Principle. The staffers said: “We wish to respectfully put forward a formal complaint to you sir, as protest on the current trend in personal management practice introduced by the present executive management of NIMASA in the name of reform by its administration. “From 2010 when the present executive management assumed office,

construction industry. Some of the contractors besieged the Federal Ministry of Land, Housing and Urban Development, last week, demanding payment for the projects they had executed. To avoid confrontation, Minister of Lands, Housing and Urban Development, Dr. (Mrs) Akon Eyakenyi, assured the contractors that pay-

ments would be made to them as soon as money is received from the Federal Ministry of Finance. The Permanent Secretary in the ministry, Mr. George A. Ossi, who stood in for the minister, appealed to the contractors to state their grievances in a calm atmosphere so that the solutions they seek would be approached with decorum. The contractors, who

have been owned by government in the last three to four years, alleged that they had been informed that while payment for work done in 2014 had been paid, payment for projects executed between 2010 and 2013 had not been made. The permanent secretary explained that money that was released in the past came with the specific instruction that

contractors who executed jobs relating to the zonal intervention projects in 2014 be paid. He also informed them that no money had been received from the Ministry of Finance for the jobs that they did. He gave assurance that once money is received, they will be duly informed with a view to paying them. He added that his office was opened at all times and that he was ready to provide information regarding their payment if and when the need arises. Ossi advised them to form a group for ease of communication between them and the ministry.

L-R: Managing Director, Red Star Express, Mr. Sule Bichi; Executive Director, Mr. Muyiwa Olumekun; Global Strategist, JSP Communications Limited, Dr. Phil Osagie and Chief Executive Officer, Diamond Bank Plc, Mr. Uzoma Dozie, during the Red Star Express Customers’ forum in Lagos. PHOTO: SULEIMAN HUSAINI

NIMASA officials move against DG CONTINUED FROM PAGE 29

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

appointments, promotions and disciplines took a new dimension that is not only dangerous, but a path of total destruction of the system. “The new approach introduced from 2010 turned logic upside down in personnel practice.” The workers equally accused Akpobolokemi of carrying out questionable staff recruitments through “a phantom consultancy outfit that had no clear understanding of personal management practice in public service with respect to guidelines on staff appointments, promotions and discipline. “The consultant merely played out a script designed to block and stagnate existing officers of the agency on GL 08 to 17.

Technology firms to drive banks’ growth –Report mobile phones

Cellphones to drive lender’s growth Tony Chukwunyem

early 40 per cent of bank heads globally plan to enter into joint ventures next year to attract new clients and access new technology, according to Price Water House Coopers’ (PwC) report on African financial services. The report stated that the trend was considered particularly pertinent to financial services in Africa, where mobile phone use is growing strongly. “More than a third of CEOs are planning to enter into joint ventures and strategic alliances

over the next 12 months, and I think we are going to see a lot more of that in Africa, particularly with mobile phone operators,” PwC banking and capital markets leader for Africa, Johannes Grosskopf, said. He cited M-Pesa that allows customers to use cellphones to withdraw and deposit cash and to pay electricity bills and taxi fares, which has more than 19-million customers in Kenya. According to Gallup, nearly two-thirds of households in 23 sub-Saharan African countries had at least one mobile phone in 2013 and the region is the fastestgrowing mobile technology market in the world. However, the leader for PwC Africa, Victor Muguto, said alliances with technology start-ups should be considered an interim measure.

“The Kodak story has huge application to financial services, as if insurers and banks that don’t innovate they will become irrelevant, but this joining up with other nontraditional operators is an interim solution,” he said. Instead, financial services players needed to find new ways of doing business, including how they organised their distribution platforms and developed new products, he said. The heads of financial services companies are also concerned about finding skilled people and the reams of regulation they have to comply with, according to PwC’s African report. The report was based on interviews with 410 CEOs in the sector, including those from banks, capital markets, insurers and asset managers.

Business | Finance

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

The 2015 spring meetings of the World Bank and the International Monetary Fund (IMF) have come and gone, but diversification away from oil and execution of structural reforms were the key messages, writes AYODELE AMINU

World Bank/IMF: Diversification, reforms key

ike the adage that there are two sides to a coin, while the global economy has benefited from lower oil prices with strong performance of the world’s largest economy, the United States, the oil exporting countries in sub-Saharan Africa, including Nigeria, have suffered a steep fall in their revenues. Consequently, the message for this region, especially Nigeria, which is vulnerable to falling oil prices, was to diversify her economic base away from oil and implement structural reforms to improve the country’s prospects. Oil prices have plunged by more than half since June last year when the premium grade hit N110 per barrel, curbing revenue and investment plans in Nigeria, which rely on crude proceeds for about 75 per cent of government’s revenue. As at last Monday, the price of oil was $64.83 per barrel. At the World Bank/IMF meetings, which focused on commodities, infrastructure, financing development, public debt and climate change, Nigeria’s Finance Minister, Dr. Ngozi Okonjo-Iweala, also acknowledged that there was urgent need for the country to diversify away from oil. The minster, who was accompanied to the meetings by the economic think-thank of the All Progressive Congress (APC), led by Mr. Wale Edun, a former commissioner under Bola Ahmed Tinubu’s administration, said that Nigeria urgently needs a consensus to move away from oil. Speaking on the topic: “Nigeria beyond oil,” she advised the in-coming administration to diversify Nigeria’s sources of revenue, build enough buffers and continue to strengthen and build institutions. She said: “The falling oil prices should be seen as an opportunity to diversify Nigerian economy away from oil. We need an economic and political consensus to build buffers. Currently, our export earnings are 30 per cent non-oil and 70 per cent oil, but we need to increase our nonoil exports like countries such as Mexico and Indonesia, so as to guide against oil shocks. “I advise the in-coming government to build political will so that if oil prices rise, they can save and have enough buffers to cushion the effect of falling oil prices. “The in-coming administration also has to look into the issue of gas, which reduced the power generation.” She said that the falling oil prices should be seen as an opportunity. “Instead of moaning, we should see this as a good opportunity to really make those tough

Jonathan

Buhari

barked on building institutions and infrastructure. Reiterating that 2015 would be pretty tough for Nigeria, she said that data from the World Bank showed that the country was losing three per cent of her growth yearly to inability to halt oil volatility. She recalled that Nigeria’s Excess Crude Account (ECA), which was $22 billion in 2008, dropped to $4 billion in 2011, but currently holds about $2 billion.

choices,” she said. Minister defends Jonathan Earlier, Okonjo-Iweala, who defended the current administration, said that it had “done well.” The minister, who noted that fuel subsidies had been slashed by 50 per cent, also urged the incoming administration to buy into and continue with the policies, which the current administration has embarked on. “The number of policy choices that we have on ground is not limited; I think the in-coming administration should just proceed with it. I wish we had less poisonous political environment that will enable us to build buffers. “I think Jonathan did a great thing. Incidentally, this is the time to remove subsidy now that oil prices are down.” Raising taxes Besides, Okonjo-Iweala noted that Nigeria is the only country whose Value Added Tax (VAT) is so low and advised that the in-coming administration could raise VAT in the 2016 budget. The minister, however, acknowledged that Nigeria’s economic growth has not been allinclusive and that the country has been losing half per cent of her Gross Domestic Product (GDP) in the last two years to Boko Haram. “Inequality has increased from 42 per cent to 48.9 per cent; our growth has not been creating jobs, with unemployment rising as high as 24 per cent,” she admitted. Consequently, she said that was why the current government em-

The falling oil prices should be seen as an opportunity

Fuel subsidy removal Nigeria and other oil exporting countries in the region were also advised by IMF to completely remove fuel subsidies since oil prices have crashed by 50 per cent. Director of the IMF African Department, Ms. Antoinette Sayeh, made this call at the African Region press conference while fielding questions from journalists. Sayeh’s advice tallied with that of Okonjo-Iweala, who had earlier at the 5th Africa Debt & Capital Markets conference in Washington D.C., also advised Nigeria’s President-elect, Muhammadu Buhari, to remove subsidies “now that prices are lower.” The IMF Director said: “This is the time Nigerian government has to deal with the subsidy issue – now that the prices of oil have fallen - because when prices rise, it would be very difficult to remove subsidies. “But to achieve this, government actually has to make sure and convince the people that the savings in subsidy would be used to improve the lives of the citi-

zens. This is what they need to do to make it politically feasible to remove fuel subsidy.” Furthermore, she advised countries in the region seeking to raise funds through sovereign bonds to be wary of the exchange rate volatility - especially with the United States’ dollar, which has recently risen in value. “We advise sub-Saharan African countries to look at the change in foreign currencies – especially those considering higher bond yields. They have to critically look at these funds, which they need for infrastructure financing. “So, low income countries in sub-Saharan Africa need to be cognisance of how exchange rates may translate into balance of payment deficits. They also need to look at their total debt and see how sustainable it is.” She said that the Fund’s new debt unit recently approved by its board would be effective in June. Alleged N2trn election largesse Okonjo-Iweala distanced herself and her ministry from the alleged N2 trillion spent by the Presidency on the 2015 general elections. She, however, admitted that it was only the security aspect of the elections that was funded by her ministry as appropriated in the 2015 budget. A national newspaper had, penultimate Sunday, reported that a committee of five had been set up by President Goodluck Jonathan to conduct an audit of how the CONTINUED ON PAGE 32

Business | Finance

CO NTINUED FROM PAG E 3 1

N2 trillion was disbursed for the elections by party members, an allegation, which has since been dismissed by the Presidency. But when prodded by New Telegraph in Washington D.C. during a joint press conference by her ministry and the Central Bank of Nigeria (CBN) officials, the minister said that she was not aware of such funds leaving government coffers. “I am not aware. Funds for electioneering campaign do not come from the budget. We only provided funds for security during elections,” she stressed, but refused to give further details. Speaking on the impact of China’s slow growth on Nigeria, the minister noted that there was the need for the country to closely monitor what goes on in China. “Definitely, the slow growth in China will affect Nigeria because they are likely to reduce their oil imports from the country. Also, the slow growth may affect lending to Africa,” she said. China, which is the major importer of crude oil from Nigeria after the US had halted imports, has become Nigeria’s largest trading partner. On Nigeria’s takeaway from the meetings, the minister said that the message for all oil exporting countries, including Nigeria, was to put in place good fiscal reforms, which she said the country had already executed.

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

World Bank/IMF: Diversification, reforms key

Okonjo-Iweala

CBN insists banks are safe, sound CBN’s Deputy Governor, Economic Policy, Dr. Sarah Omotunde Alade, noted that given the divergent monetary policy measures being pursued by Japan and Europe, which have embarked on quantitative easing and the United States that have been winding up theirs, there was the need for Nigeria to put in contingency plans and monitor capital inflows. Besides, she said that it was also imperative for the country to design a sound macro-financial goal, enhance supervision and regulation of financial institutions. The deputy governor reiterated that the Nigerian banking sector is sound and safe. “Today, we have banks that are safe and sound and they are contributing a lot to the growth of the economy. All we need is to build on these, stressed Alade, who represented the apex bank’s governor, Godwin Emefiele. Nigeria’s growth The IMF said that growth of the Nigerian economy is expected to remain unchanged at 4.8 per cent in 2015. The Fund, which said this in its April, 2015, World Economic Outlook (WEO), however, slashed subSaharan Africa’s growth by 1.1/4 per cent, from 5.1 per cent to 4.5 per cent, but left its projected global growth unchanged at 3.5 per cent. IMF had, last January, slashed Nigeria’s economic growth forecast for this year to 4.8 per cent, compared with 7.3 per cent last October. The Fund, which made the cut known in its WEO update released in Beijing, had also cut its 2015 economic growth forecast for SSA by almost one percentage point due to falling oil prices, which curbed output in the region’s biggest economy. The IMF forecast SSA’s economy to expand 4.9 per cent this

Government should make sure and convince the people that the savings in subsidy would be used to improve the lives of the citizens

Alade

year, down from 5.8 per cent and grow to 5.2 per cent in 2016. The Fund, which projected a growth of 5.5 per cent for Nigeria in 2016 in its latest report, however, said that the country’s inflation is expected to rise to 9.6 per cent and 10.7 per cent in 215 and 2016 respectively. Specifically, it advised Nigeria and other oil exporting countries in the region to undertake prompt fiscal adjustment to address the persistent terms of trade shock that they are facing. “Where feasible, such adjustment should be combined with increased exchange rate flexibility. Elsewhere, to sustain high inclusive growth, policies will need to continue to strike the right balance between scaling up public investment and preserving debt sustainability and rebuilding fiscal buffers,” the IMF said. Besides, it said that the current environment of low prices provides a unique opportunity for oil exporting countries to undertake politically difficult reforms to eliminate remaining fuel subsidies. Additionally, the Fund warned: “In anticipation of possible surges in the volatility of the exchange rate and capital inflows, countries should also carefully monitor their financial sectors and those planning Eurobonds issues may need to prepare contingency plans.” Going by the 2015 budget, Nigeria’s economy is projected to grow by 5.5 per cent, down from an earlier projection of 6.4 per cent, due to lower oil revenues. Nigeria’s economy had grown by 6.21 per cent in the first quarter of 2014, up from 4.45 per cent in the same period last year. This was, however, lower than the 6.77 per cent recorded in the fourth quarter of 2013. Nigeria’s economy had grown 6.5 per cent and 7.0 per cent in 2012 and 2013 respectively and was projected by the World Bank to grow at 6.7 per cent, 5.5 per cent and 6.1 per cent respectively in 2014, 2015 and 2016. Commendation The IMF Managing Director,

Christine Lagarde, also said that of the eight oil-producing countries in the region, Nigeria is one of those that have responded well to the oil shocks. Lagarde, who said this while responding to questions from newsmen, noted that Nigeria had succeeded in putting good fiscal policies in place to guard against the fallen oil prices. Other oil exporting countries in the region are Angola, Cameroun, Chad, Congo, Cote d’Ivoire, Equatorial Guinea and Congo. Remittances from Abroad The World Bank said that $21 billion (N4.2 trillion) was sent home to families and friends by Nigerians in the Diaspora, in 2014. However, the growth of remittance is expected to slow this year, it said in its latest issue of Migration and Development Brief, released at the meetings. According to the report, officially recorded remittances to the developing world are expected to reach $440 billion in 2015, an increase of 0.9 per cent over the previous year. Global remittances, including those to high-income countries, are projected to grow by 0.4 per cent to $586 billion. Nigeria, Africa’s largest economy, also depends on remittances for foreign exchange. Money transfer from the West makes up the country’s second highest foreign exchange earner after oil. Nigeria is also Africa’s top remittance recipient. The study said: “The top five migrant destination countries continue to be the United States, Saudi Arabia, Germany, Russia and the United Arab Emirates (UAE), while the top five remittance recipient countries, in terms of value of remittances, continue to be India, China, Philippines, Mexico and Nigeria. “Nigeria alone accounts for around two-thirds of total remittance inflows to sub-Sahara Africa, but its remittances are estimated to have remained flat in 2014 at roughly $21 billion. “Growth of remittances to the sub-Saharan Africa region is

projected to slow to 0.9 per cent in 2015, amounting to $33 billion. The regional growth in remittances in 2014 largely reflected strong growth in Kenya 10.7 per cent, South Africa 7.1 per cent and Uganda 6.8 per cent. Two billion unbanked adults The global body also said that the number of “unbanked” individuals dropped 20 per cent to two billion adults. It, however, noted: “Between 2011 and 2014, 700 million people became account holders at banks, other financial institutions or mobile money service providers.” Access to financial services, it said, can serve as a bridge out of poverty. “We have set a hugely ambitious goal - universal financial access by 2020 - and now, we have evidence that we’re making major progress,” said World Bank Group President, Jim Yong Kim. “This effort will require many partners credit card companies, banks, microcredit institutions, the United Nations, foundations and community leaders. But we can do it and the payoff will be millions of people lifted out of poverty.” Between 2011 and 2014, the percentage of adults with an account increased from 51 per cent to 62 per cent, a trend driven by a 13-percentage point rise in account ownership in developing countries and the role of technology, the report noted. “In particular, mobile money accounts in sub-Saharan Africa are helping to rapidly expand and scale up access to financial services. Along with these gains, data also show big opportunities for boosting financial inclusion among women and poor people,” it added. 800m people hungry The World Bank said that 800 million people go to bed hungry every night. This was contained in the global bank’s report titled “ending poverty and hunger by 2030: An agenda for the global food system.” Consequently, it urged countries combatting hunger to build better food systems that raise agricultural productivity in rural areas. Besides, the World Bank said that these countries must invest in improving nutritional outcomes for young children and pregnant women and boost climate-smart agriculture that can withstand a warmer planet. “This report is critically important because it provides an overview of key actions that should be taken to end widespread hunger,” said World Bank Group President, Jim Yong Kim. “Countries should ensure that farmers have access to markets, receive fair value for crops and grow foods that will withstand the rigors of a changing climate. They should invest in food, health and care for young children and pregnant women and improve access to nutritious food.” Kim added: “Taking these steps toward ending hunger can impact other important global issues – it will help end extreme poverty, tackle climate change and end the scourge of malnutrition that robs many children of a better future.” The next meetings, which are the annual, is billed for Peru in October.

Business | The Investor

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Chris Ugwu

ransactions on stocks and other securities are more complex and volatile than other markets, especially after the global financial meltdown, which also impacted the Nigerian bourse that is still facing crisis of confidence. With the massive sell-offs that have characterised the Nigerian equities market in recent times, there are concerns among market watchers that transactions in equities might return to what was witnessed during the bleak periods of 2008 and 2009 if adequate measures such as enhancement of investors’ confidence and incentives to operators are not taken urgently to salvage the market from the current limbo. But the question market operators and other stakeholders have continued to ask is how to turnaround the market. Hence, players in the market are clamouring for the Exchange to reduce transaction costs and encourage new listings if they want to become more attractive vehicles for raising capital and lure new investment. However, following the weak condition of the local bourse, market operators believe that the time is ripe for the regulatory authorities to heed the advice and toe the line of other countries who have enacted a compelling law to reduce the obstacles, which is holding the market from being the bastion of the economy. They noted that this is the only way to set in motion the necessary machinery required to turnaround the market. This is because in Nigeria, costs constitute an impediment for market operators and companies wishing to list their shares, while already listed ones are looking for excuses to delist from the Exchange due to excessive charges. What brokers earn For instance, stockbrokers earn only 1.350 per cent of the total cost of 4.04 per cent charges on the equity transactions. The rest goes to Securities and Exchange Commission (SEC), Central Securities Clearing System (CSCS), Nigerian Stock Exchange (NSE) and statutorily charges such as stamp duty and Value Added Tax (VAT). Some market operators are of the opinion that given the fact that the regulators get money from registration, penalties and others, they ought to receive very minimal commission on secondary market transactions. According to reports of transaction costs across global markets, Ghana appears to have the highest costs, followed by Nigeria, while the United States has the least transaction cost with no charges on stock trades. Hence, lower cost of transaction appears consistent with the level of market development and by implication, market efficiency, as costs are lower in US, China, India and South Africa, which are more developed than the Nigerian and Ghanaian markets. Regulators’ current stance In response to the current situation, the SEC recently amended the fees on secondary market transactions of federal, state,

Cost reduction as catalyst for capital market growth

Trading floor of the NSE

local government bonds and Debentures of Public Limited Companies. In a notice obtained from the apex regulator’s website, the commission noted that the amendment was expanded to include money market products as well as other derivative products to be traded in the financial markets, particularly on SEC registered platforms. SEC said that the applicable rate has been changed from 0.1 per cent to 0.0002 per cent (a 5000 per cent reduction) of secondary market transactions. The Exchange had also embarked on a cost analysis with the aim of reducing cost of transactions and making the stock market more attractive as it commenced the reduction of the cost of its Trade Alert service by about N1.24 billion from March, 2014. This reduction is being achieved through the scrapping of the current charge of 0.06 per cent of every trade on the Exchange and an introduction of an enhanced notification system, X-Alert, which will be charged at a flat fee of N4 per transaction, the Exchange had said. Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo, said that the enhanced X-Alert is a service that will allow the investing public know when a transaction has been made on their account. “Each time investors buy or sell a security, an alert is sent to them via a text message to the recipient’s mobile phone or via an e-mail to the recipient’s mailbox. So, what that does is to bring real time notification plus transparency to the market at market rates while safeguarding against unauthorised sale or purchase of securities,” he said. Bajomo noted that the big difference for the investing community was that rather than pay 0.12 per cent of every trade roundtrip, investors will now pay a flat fee of N4.00. He said: “Based on 2013 figures, the trade alert charges with the old system was some

In Nigeria, costs constitute an impediment for market operators

N1.25 billion; with the improved notification system, however, the annual cost of the alerts would be some N5.52 million based on a N4 flat fee – that is a reduction of N1.24 billion per annum in the cost incurred by investors transacting in the market.” The Managing Director, CSCS, Mr. Kyari Bukar, said that the enhanced service is delivered in real time to customers. He also urged all customers to ensure that their brokers are provided with up to date mobile phone numbers and email accounts to enable the notification system work effectively and provide timely update on all account transactions. There are also the added benefits of effective fraud alert in cases of unauthorised transactions on account, reduction in time spent confirming trades and an enhancement of transparency between the trader and its clients. Experts’ opinion Following deliberate actions taken by capital market regulators and operators to woo retail investors back to the market, Analysts at Meristem Securities Limited have said a reduction in transactions costs will attract more investors. According to the experts, the relatively high costs of transactions on the Exchange calls for concern to investors particularly at the retail segment of the market with such charges as the stamp duty still being charged on every transaction, which takes place on an electronic platform. They explained that a comparative cost analysis they embarked on across markets in Africa, showed that Nigeria’s statutory fees (exclusive of brokerage commission) remain the highest not only in Africa but also across major emerging markets across the globe (save for Ghana, which is almost at same level with Nigeria at 0.7 per cent). They noted that the new transaction notification system (XAlert) used to replace the former Trade Alert is a welcome development, which is expected to come

as a relief to a wide spectrum of investors, especially institutional and high net-worth investors. Forward looking Concerned by the complaints of high transactions costs on the Nigerian bourse, the SEC has also said that one of its near-term targets is the reduction of transaction costs in the stock market. Acting Director General of the Commission, Mr. Mournir Gwarzo, disclosed this while briefing the media on the outcome of the first quarter 2015 Capital Market Committee (CMC) meeting in Lagos recently. He said this became necessary to attract more operators in the market. “We deliberated on the issue of transaction cost and members agreed that we need to shed some weight in transaction cost in order to move the market forward. Committee on this has already been set up and they will give us feedback at the next CMC meeting. Gwazo reiterated the commission’s readiness to revive corporate bond market in the country, noting that corporate bond market has been very dormant, leaving both the federal and state governments dominating the activities in the bond market. He noted that since the beginning of the year, the new management has recorded appreciable progress in some of the areas that are critical for market growth and development. “We are streamlining the operations of the Commission to focus on its core mandates as apex regulator. We believe this will make us more effective and efficient. We have worked on a new organisational structure, which will be fully implemented this year,” he said. Conclusion In as much as the recent steps taken by the market regulators to reduce transaction fees is a step in the right direction, increased efforts should also be channeled by NSE and SEC on investors’ awareness to deepen activities in the local bourse.

Business | Money

COUNSEL

Serial issuers of dud cheques may be barred from accessing credit Tony Chukwunyem

anks have stepped up warnings to their customers about the tough sanctions that awaits anyone who issue dud cheques to third parties. New Telegraph learnt that banks have been sending emails to customers, reminding them that as part of measures introduced by the Central Bank of Nigeria (CBN) to discourage people from issuing dud cheques, anyone caught engaging

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Banks again warn against dud cheque issuance in the act could be barred from accessing credit facilities from the banking system. In one of such emails sighted by New Telegraph, titled: “Issuance of dud cheques,” the bank, stated: “Dear valued customer, we wish to inform you of the additional measures introduced by the Central Bank of Nigeria (CBN) to curb the rising trend in issuance of dud cheques (i.e. issuing a cheque against an unfounded account) to third parties. As a regu-

latory requirement, all banks are mandated to report serial issuers of dud cheques.” According to the email, upon the CBN’s compilation of the list of serial issuers of the dud cheques, banks would be required, among other measures, to recall/cancel all unused cheque books issued to such customers; bar them from accessing the clearing system for a period of five years and forward their names to the three Private Credit Bureaux in the country as well as to

the Credit Risk Management System (CRMS). In a circular to banks earlier this month, the apex bank’s Director, Banking Supervision, Mrs. Tokunbo Martins, had noted with concern, what she described as the impunity with which some banks’ customers issued dud cheques on their accounts despite the provisions of the Dishonoured (Dud) Cheques Act of 1977 and its recent directives to banks’ customers to desist from such practice.

The CBN director stated that where an institution failed to report a serial dud cheque issuer in its return to the regulator, CRMS and Private Credit Bureaux as required, it shall be considered as concealment and misrepresentation of material fact and the affected institution shall be penalised in accordance with the relevant provisions of the Banks and Other Financial Institutions Act, LFN 2004 CAP B3 (BOFIA). Martins pointed out

L-R: National Sales Manager, British Airways, Ademola Sanya; Administrator, Little Saint Orphanage Home, Lagos, Ranti Oduyebo; Missionary, Esther Namdi; Marketing Executive, Africa, British Airways, Nneka Ukay and one of the winners of British Airways Leaders of Tomorrow season 1, Peter Fajemisin, at the British Airways donation of Mosquito Nets to Little Saint Orphanage Home, in celebration of the 2015 World Malaria Day in Lagos.

Nigerian banks storm Sierra Leone

irst Bank of Nigeria Limited recently became the latest Nigerian lender to commence operations in Sierra Leone. The bank joins United Bank for Africa, Skye Bank, Access Bank, Guaranty Trust Bank and Zenith Bank, which already have businesses in the West African country. Foreign banks make up over 70 per cent of Sierra Leone’s commercial banking sector. It’s not just Sierra Leone

banks that are attracting buyers. Lenders from London to Qatar are hunting for African banks to buy. No market is attracting more interest than Nigeria, where 35 million adults keep their cash at home, Bloomberg reported in November. The Nigerian Stock Exchange (NSE) Banking 10 Index dropped at least 16 per cent in 2014. Fitch Ratings expects Nigerian banks’

“performance and growth” to slow more in 2015. Sixtythree per cent of publicly traded Nigerian banks trade below their book value, John Storey, a Johannesburg-based analyst at Bank of America Corp., estimates, according to Bloomberg. First Bank is one of the largest corporate and retail financial institutions outside South Africa in sub-Saharan Africa, operating in five other African countries, France and

the U.K. plus offices in China and United Arab Emirates. First Bank agreed with the International Commercial Bank Financial Group Holdings Ag to buy International Commercial Bank (ICB) Sierra Leone. “The launch of FBN Bank Sierra Leone fulfills one of the critical stages of our ambition to steadily broaden and build a more diverse footprint across Africa,” said Bisi Onasanya, CEO of FirstBank, in a prepared statement.

French bank to invests €4bn in Africa

rench banking group, Société Générale, is to allocate €4 billion of additional capital to its African operations by 2016. According to the daily, Les Echos, this investment comes at a time when the group is seeing its influence wane across some of

its traditional markets as it competes with local giants, particularly in Côte d’Ivoire, Senegal and Cameroon. “The environment is very competitive, Moroccan and pan-African banks are very aggressive and if we are to succeed, we need to accelerate the professionalisation

of our subsidiaries,” said the bank’s regional director, Alexandre Maymat. The group plans to focus on the business market which accounts for 55 per cent to 90 per cent of its revenue depending on the country - and is looking to provide a pan-African and

“sophisticated” offering to major international and local companies. To achieve this objective, it will establish a regional trading room in Abidjan to expand product coverage and equip its subsidiaries for cash management and factoring deals.

that to sustain the positive achievements already recorded in the Nigerian Payment System, it was essential that confidence and integrity in negotiable instruments, especially cheques, should be restored and enhanced.

AFDB seals $40m deal to boost African trade

he African Development Bank (AfDB ) has approved a $40 million Risk Participation Agreement (RPA) with Banco Santander S.A. (Spain) to support Trade Finance in Africa. According to a statement on the AfDB’s website, the facility will support issuing banks in Africa expand their trade finance operations. The facility is also expected to help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agriculture and manufacturing. In addition, the deal is aimed at fostering financial sector development and regional integration, thereby contributing to government revenue generation. According to the statement, “most African banks are small and therefore find it difficult to obtain adequate trade finance facilities from international confirming banks to support African importers and exporters. AfDB’s additionality lies in the use of its “AAA” rating to give greater comfort to Santander to take more risk on local banks in Africa and provide them increased trade finance facilities. Through this risk sharing facility, Santander will match AfDB’s undertaking in every transaction, thereby creating a trade finance portfolio of, at least, $80 million. The facility is expected to support over $480 million of trade in Africa over a 3-year period. “ The statement further noted that it would be the AfDB’s first RPA with a Spanish Bank. “Santander is a significant player in the global trade finance market. It has significant presence in many emerging markets and is well positioned to support South-South trade involving Africa.

Business | Money

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Tony Chukwunyem

ontrary to widespread expectations that regulatory headwinds, the tough economy, coupled with the uncertainty, which initially surrounded the 2015 general elections, would lead to below par first quarter (Q1) performances by banks, results so far released indicate that the industry may report generally impressive results for the first quarter of this year. First Bank Significantly, however, an analysis of published results showed that most banks’ profits in the first quarter were significantly boosted by non-interest income. That is, revenue from sources such as deposit and transaction fees, annual fees, monthly account service charges, inactivity fees, cheque and deposit slip fees, among others. For instance, in its Q1 2015 unaudited results released a few days ago, First Bank of Nigeria (FBN) Holdings Plc, the industry’s biggest lender by assets, reported a 23.5 per cent rise in gross earnings to N126.8 billion from the N102.6 billion recorded in the same period in 2014. The bank also announced that Profit Before Tax (PBT) increased by 8.7 per cent to N26.9 billion from the N24.8 billion reported for the comparative period last year, while Profit After Tax (PAT) rose by 4.9 per cent to N22.6 billion from the N21.6 billion recorded in the same period last year. According to the first tier lender, it recorded a 51.2 per cent increase in non-interest income to N29.3 billion in the first quarter of this year from the N19.3 billion it announced for the same period in 2014. Interestingly, the results showed that compared to its noninterest income, the bank’s net interest income only increased by 1.3 per cent to N59.6 billion from the N58.8 billion earned in the first quarter of last year. Zenith Bank Similarly, in its three months ended March 31 2015 results released last week, Zenith Bank, another top tier lender, announced a 20.1 per cent increase in gross earnings to N113.3 billion from the N94.3 billion recorded in the comparative period in 2014. The bank also reported 15 per cent increase in PBT to N33.1 billion from the N28.9 billion recorded in the first quarter of 2014, as well as a 17 per cent increase in PAT to N27.6 billion from the N23.6 billion recorded in the same period last year. However, while the lender reported a 6.4 per cent decline in net interest income to N42.6 billion from the N45.5 billion recorded in the first quarter of 2014, it had a 39.5 per cent increase in noninterest income from N22.9 billion to N31.9 billion. Access Bank In its audited Q1 2015 results, Access Bank Plc also reported that net interest income grew by 17 per cent to N46.4 billion from N39.6 billion in Q1 2014, while non-interest income increased by47 per cent to N30.4 billion for Q1 2015 compared with N17.6 billion earned in the same period

MD, First Bank Plc, Bisi Onasanya

MD, Sterling Bank, Yemi Adeola.

Non-interest income boosts banks’ 2015 Q1 earnings last year. It reported gross earnings of N76.7 billion for its first quarter ended March 31, 2015, representing 34 per cent increase over N57.3 billion posted in the same period in 2014. Access Bank said that the rise in non-interest income was supported by growth in net trading income.

improvement in profit before tax. Overall, the bank achieved a 19 per cent pre-tax return on average equity (annualised).” There are, however, banks such as UBA and Guaranty Trust Bank (GTBank) that attributed their profits in the first quarter of 2015 to strong growth in both interest and non-interest income.

Sterling Bank But it was not only first tier lenders that had their Q1 profits boosted by growth in non-interest income. Sterling Bank, a leading second tier bank, reported a PAT of N3.9 billion for the period, showing an increase of 25 per cent from the N3.1 billion recorded in the corresponding period of 2014. According to the bank, its PBT rose by 14.1 per cent from the N3.5 billion to N4.0 billion, while noninterest income grew by 31.9 per cent from N6.1 billion to N8 billion. It explained that the growth in non-interest income was driven by a 51 per cent growth in fees and commission, which rose to N5 billion. Commenting on the results, the Managing Director and Chief Executive Officer, Sterling Bank, Yemi Adeola, said: “Our first quarter performance was in line with expectations, having recorded a 25 per cent growth in bottomline earnings. This was driven by non-interest income, which rose by 32 per cent to N8 billion on the back of a 51 per cent increase in fees and commission. We recorded a marginal increase in operating expenses, which was slower than the growth in net operating income resulting in a 14 per cent

UBA For instance, UBA’s results show that it recorded a 22 per cent growth in gross earnings to N83.1 billion as at March 2015 from a comparative figure of N68.1 billion made in the first three months of the 2014 financial year. The lender also recorded a 36 per cent growth in PBT to N18.4 billion as at March 2015 compared with N13.5 billion as at March 2014. PAT also increased by 35 per cent to N17 billion from N12.6 billion within the same period.

This was driven by non-interest income, which rose by 32 per cent to N8 billion on the back of a 51 per cent increase in fees and commission

GTBank In the same vein, GTBank stated that its 17 per cent growth in gross earnings to N79.02 billion, from N67.58 billion recorded in the comparative period of 2014, was underpinned by strong growth in interest income and effective management of operating expenses and cost of risk. The lender also announced a PBT of N32.65 billion, which was an increase of 17 per cent over the N28.01 billion it reported in Q1 2014 as well as a PAT of N26.56 billion, an increase of 15 per cent over the N23.11 billion reported in Q1 2014. In a chat with New Telegraph, Senior Financial Analyst at

Berta Associates, Mr. Timothy Mordi, attributed the growth in banks’ non-interest income to the need for the industry to respond to current challenges. He said: “In recent months, the industry has been contending with regulatory headwinds occasioned by the Central Bank of Nigeria’s (CBN) tightening stance. The Monetary Policy Rate (MPR) was increased last November to 13 per cent from 12 per cent and the Cash Reserve Ratio (CRR) on both public and private sector deposits has also been hiked. If you now add all the other foreign exchange measures that the CBN has introduced to check naira speculation, you will realise that banks’ opportunities to make money have been significantly reduced. For them to make profit, they have to rely a lot on non-interest income and other such sources of revenue. ” He argued that only banks with diversified revenue base stand the chance of performing well in the current tough environment. Instructively, commenting on the lender’s Q1 results, the Chief Financial Officer (CFO) Zenith Bank, Mr. Stanley Amuchie, noted that the group’s continued effort in diversifying its revenue base yielded result as its noninterest revenue grew by 39.5 period over the prior period. Similarly, Wema Bank, a midtier lender, did not provide details of the extent of the contribution of non-interest income to the profit it reported in the first quarter of this year. According to the bank’s published unaudited Q1 2015 financial results, gross earnings increased by five per cent to close at N10.63 billion compared with the N10.16 billion recorded in the same period last year, while PBT and PAT increased by four per cent each to close at N615 million and N522 million respectively. It, however, said that it recorded interest income of N8.9 billion, an eight per cent increase over the N8.3 billion recorded in the first quarter of 2014. But while as earlier noted, Q1 2015 results that have been announced by most banks show increases in profits, another mid-tier bank, Stanbic IBTC, is the only lender thus far to have reported a drop in profit for the period. The bank’s PBT fell by 46 per cent to N4.8 billion compared to the N9 billion recorded in the same period last year. In its comments on the results, FBN Capital Research stated: “Stanbic’s revenue performance was muted: profit before provisions came in flat at N24.6 billion. Although non-interest income grew by six per cent y/y to N13.9 billion, this was more than offset by a nine per cent y/y decline in funding income to N10.7 billion. “It would appear that margin compression was to blame (Stanbic guided to net interest margins falling by 50-100bps in 2015). Sequentially, although PBT fell by -52 per cent q/q, PAT grew 17 per cent q/q because of the positive result on the Other Comprehensive Income (OCI) line. Profit before provisions declined by 12 per cent q/q because both funding income and non-interest income fell by 10 per cent q/q and 13 per cent q/q respectively.”

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Maritime STRATEGY Aggressive maritime policy needed for Nigeria Stories by Bayo Akomolafe

legal firm, Olisa Agbakoba Legal (OAL) has advised the President-elect, Muhammadu Buhari, to formulate an aggressive maritime policy that will benefit Nigerians by appointing a Minister of Maritime Trade. Principal Partner of the firm, Dr. Olisa Agbakoba (SAN), said that every coastal nation had room for such a position. He explained that the maritime sector was an invisible sector of huge importance to the economy. He said: “So, the agenda for this new president is to see to

Firm seeks maritime ministry it that there is an aggressive maritime policy that will bring benefits to Nigerians. “What we now need to ask ourselves is where we are. I would say that we are close to zero in harnessing our maritime resources because of lack of political will.” Agbakoba also advised that the incoming government should not delegate the manning of the nation’s waters to private operators in order to avoid piracy and armed robbery. He suggested that there should be a Coast Guard and a Maritime Security Force including the Navy, like other maritime countries. The maritime lawyer said that the Maritime Safety Administration, Government In-

spector of Ships should form the backbone of maritime safety administration. Agbakoba wondered why the nation had 200 nautical miles and could not have the additional 150 nautical miles. He recalled that he drafted the Oceans Bill, which was changed to Maritime Zones Ocean Bill, wondering why Nigeria did not claim the additional 150 miles because of its over reliance on oil. Agbakoba said: “The Asians came here and took away all our rich maritime resources to go and sell,” adding that the country is losing billions of naira every year. He expressed worry over the incursion of indigenous coastal trade (Cabotage) by foreign ship owners, saying

that this would hinder job opportunities for Nigerians. Agbakoba lamented that the nation was losing huge amount of money due to lack of a law like the Ports and Harbour Bill in managing the ports. He added: “The starting point for the president-elect is to appoint a minister of maritime trade. Every coastal nation has this. Having appointed a minster of maritime trade, he would identify in consultation with stakeholders, what is it that makes up our maritime sector.” Agbakoba alleged that the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Ports Authority, National Inland Waterway Authority, Nigerian Shippers’ Council (NSC) are

not really efficient. He said: “When I started shouting about foreign vessels being in our waters, they were about 5,000, but in our last stakeholders’ meeting, they are now about 10,000. “The maritime sector, if properly harnessed, is a very, very strong alternative source of revenue for this country, but the policy must be right.” He noted that without a Port and Harbour Bill, nobody could talk about ocean, sea-going vessels or coastal vessels. Agbakoba said that the country sustained Benin Republic with its inefficiency, noting that Benin Republic had a well-developed Port and Harbour legal regime, that gives them about 30, 40 per cent of their national incomes.

Container shipping may witness excess growth C ontainer shipping is expected to see another year of excess growth in relation to demand, as there has been no let-up in big ship deliveries and new building ordering frenzy. According to a forecast by Drewry Maritime Research, container carriers will find it hard to repeat the estimated 92 per cent load factors across the main head haul East-West trade lanes. Meanwhile, new orders for Ultra Large Container Vessels (ULCV) of at least 18,000 Twenty Equivalent Units (TEU) are pushing back the date when supply and demand can be expected to meet and at the individual trade route level this is now seemingly unachievable. The firm noted that there had been around 40 ULCVs ordered since January, mainly for 2017 delivery, saying that this did not include any provision for Maersk and Cosco orders yet to be finalised. Director of Container Research, Mr. Neil Dekker, said, “the industry paid a heavy price for the huge ordering

it undertook in 2006/07 and it seems that four years after Maersk spent $3.8 billion on its Triple Es, history is repeating and many lines are entering or are about to enter this now not so exclusive club. The one difference this time around is that the operational agreements should mean that not all top 20 lines will make this big step.” The research firm added that the 30 per cent fall in bunker fuel prices had been an unexpected boon, even though most carriers still recorded lower average freight rates last year, Drewry stated. “Current spot rates of around $1,000 per Forty Equivalent Unit (FEU) from Asia to North Europe are below break even levels for the carriers and consistent declines over the last 10 weeks will concern volume shipping that have signed up for higher contract rates this year,” it said. Drewry added that the underperformance of the trades to East Coast South America is another concern for the global cascade of vessels over 8,000 teu.

Chamber tasks govt on Common External Tariff provisions

he National Association of Chambers of Commerce, Mines and Agriculture (NACCIMA) has urged the Federal Government to adhere strictly to the provisions of the newly approved Common External Tariff (CET). Its acting Director-General, Mrs. Janet Omisore, said that government should make deliberate efforts to monitor

trade activities with the takeoff of tariff. She urged government to make deliberate efforts to monitor the activities of other member countries to ensure that they comply with the laid down rules and protocols. Omisore stressed: “Another area government and other CONTINUED ON PAGE 37

Vessel discharging containers at Lagos Port

MAAN advocates vibrant arbitration in shipping

he Maritime Arbitrators Association of Nigeria (MAAN) has said that only a vibrant national maritime arbitration system can attract quality investors to the maritime industry. Its president, Dr. Omogbai Omo-Eboh, said that the association had adopted the strategy, as arbitration offered desired solutions and confidentiality in maritime disputes for parties in dispute. He explained that maritime regulators and operators need some enlightenment and advocacy to encourage people to tap into the arbitration dispute mechanism. The president said:

“There is still a lot of information dissemination we need to do to encourage people and to let them know that these are the things we do and how they can benefit from it in the maritime industry. So, towards that advocacy and enlightenment campaign, we usually organise an annual seminar called the ‘Practical Maritime Dispute Resolution’ seminar. “In addition to that, every year as well, we always organise a maritime arbitration workshop as part of objectives to enlighten the public and to demonstrate the practical aspect of how maritime arbitration works. One of the major attractions of arbitration and what is central

and cardinal to arbitration is that it is confidential. “When you go to the court, you bring your disputes into the public domain, into public glare. Whereas with arbitration, it is very confidential, it is between the parties, their counsel or representatives and the arbitrator or arbitrators.” Omo-Eboh noted that a workable dispute settlement mechanism would increase the confidence level in the industry. He stressed that numerous investors consider industrial dispute resolution seriously, noting that it engendered confidence and protection of investments.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

ALLIANCE New structure established to promote business Stories by Bayo Akomolafe

new association, Shipowners’ Association of Nigeria (SOAN), has been established to promote the interest of Nigerian ship owners and to provide a forum for dialogue among Nigerian Shipowners

Ship owners unveil new association President of the association, Mr. Greg Ogbeifun, who is the Chief Executive Officer of Starz Group of Companies, said that all members of SOAN were still bonafide members of the Nigerian Shipowners Association (NISA) that gave birth to the new association. He declared: “I am still a member of NISA and I am not aware of any member of SOAN that had resigned from NISA. We only formed SOAN to fill the gaps created by

NISA. “SOAN comprises ship-owning companies with proven track records of activities in the industry recognised by upstream and downstream sectors of the shipping industry as well as by the private and public sectors of the industry.” Ogbeifun explained that there was need for ship owners to dialogue among themselves on topical issues and practices pertaining to the

business of ship ownership and management. He added: “SOAN is set up to facilitate participation of Nigerian shipowners in international fora on shipping matters through effective representation in such meetings. “To cultivate and maintain good relations with government and maritime authorities by contributing expertise in formulating policies and regulations on national and maritime activities.”

Ogbeifun explained that the association was not set up as a pressure group or to agitate for contract but to create a road map for government. He said: We would not set agenda for the new government, but will only set a road map for them. We are not a pressure group, but a group of businessmen with proven track record,” he said. Also, the former Director-General, Nigerian Maritime Administra-

tion and Safety Agency (NIMASA), Mr. Temisan Omatseye, said that the association was set up by shipowners, who understood how the industry operates and knew where the shoe pinches. He noted: “Everybody here owns vessels. We are shipowners, we know where the shoe pinches and we will set agenda for government. “We are businessmen and we would not ask government for money, but tell them how to open up the industry,” he said. Omatseye urged the Federal Government to create avenue for them to be able to access funds to enable them carry out their obligations. Also, a former Director- General, Government Inspector of Shipping, Mr. Olu Akinsoji, said that the establishment of SOAN signify good things to come into the maritime industry. Akinsoji said that the creation of the association would bring quick and positive feedback to the maritime policy.

Chamber tasks govt on tariff CONTINUED FROM PAGE 36

stakeholders need to be watchful of is ensuring that the products that would be coming from those countries are really manufactured in them and not pre-packaged. “This whole idea is for us to make trade relations easier and cheaper for us, so, dubious activities should not be condoned. “It is also a call for our government to look into the issue of power and infrastructure, to boost our manufacturing sector; without this, the CET approval may not favour us.” She lamented the high rate of imported goods consumed in Nigeria and urged government to focus more on locally manufactured goods. The Federal Government had, on April 9, announced the approval of the implementation of the Economic Community of West African States (ECOWAS) common external tariff between 2015 and 2019. Minister of Finance, Dr. Ngozi Okonjo-Iweala, said earlier that government had also approved the implementation of the 2015 Supplementary Protection Measures (SPM) and fiscal policy measures.

WEDNESday, APRIL 29, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

L-R: Emir of Lafia, Dr. Isa Mustafa; Nasarawa State Governor, Umaru Al-Makura; President-elect, Maj.Gen. Muhammadu Buhari and others, during the Nasarawa State delegation’s visit to Buhari in Abuja.

L-R: Head Teacher, L.E.A. Primary School, First Avenue, Gwarimpa, Abuja, Mr. Shuaibu Usman; Pupils of the School, Nwachukwu Wisdom; Hussena Momoh; District Governor, Rotary District 9125, Rotarian Tolu Omatsola and District Governor-elect, Dr. Mike Omotosho, at the inauguration of toilet facilities built by the club in the school. PHOTO-NAN

L-R: Regional Manager, Ikeja Region, Diamond Bank Plc, Benson Oraelosi; First-Prize Winner -painting category, Vision of the Child 4, Ashaka Victory Thona; Festival Secretary, Lagos Black Heritage Festival, Foluke George and Managing Director/CEO, Nike Centre for Art and Culture, Nike Okundaye, at the award dinner for Vision of the Child 4 sponsored by Diamond Bank PLC in Lagos.

L-R: Director, Disaster Risk Management, NEMA, Alhaji Alhassan Nuhu; Secretary to Adamawa Government, Mr. Ibrahim Wuye; District Head of Jimeta, Alhaji Muhammadu Baba-Paris and Executive Secretary, Adamawa State Emergency Management Agency, Alhaji Haruna Furo, at a multi-stakeholders’ meeting on internally displaced persons’ home-return process in Yola.

Photo | News 39

L-R: Permanent Secretary, Lagos State, Ministry of Home Affairs and Culture, Mrs. Grace Oladimeji; Commissioner in the Ministry, Mr. Oyinlomo Danmole and Permanent Secretary, Ministry of Information and Strategy, Mrs. Oluranti Odutola, at a news conference to mark the 8th year of Governor Babatunde Fashola’s administration in Lagos.

Managing Director, Nigerian Airspace Management Agency (NAMA), Mr. Ibrahim Abdusalam (third right), with ASECNA calibration team, at the Murtala Muhammed Airport, in Lagos.

L-R: Rev. Sister Josephine Nweke; Rev. Sister Maria Omoike; Rev. Sister Augustina Onyebuchi; Assistant Parish Priest, Rev. Father Okosun Akhere Living Joseph; Rev. Sister Ngozi Igwudu; Rev. Sister Felicia Ogbodo and Rev. Sister Maria Okoyomon, during the collection of vocational group, at Saint Matthias Catholic Church, Eguare-Ewohimi, Edo State. Photo: Tony Eguaye

L-R: Representative of the Chief of Army Staff, Maj.-Gen. Bamidele Ologundudu; founder, Support Our Troops Foundation (SORF), Mrs. Funmi Ogbue and Trustee of the Foundation, Mr. Femi Defila, at the presentation of desert shirts to Nigerian Army by the foundation in Abuja.

40 Politics

Mark

WEDNESDAY, April 29, 2015 NEW TELEGRAPH

Ndoma-Egba

Ningi

Xenophobic attacks: Rage in the Senate C O N T I N U E D F R O M PA G E 1 7

test before taking any other decision. We made so much sacrifices for South Africa during the era of apartheid government in that country. If we don’t handle this seriously, this spate of xenophobic attack will continue,” he stated Senator Abdul Ningi (PDP – Bauchi Central) while also recalling the contributions he personally made as a student to liberate South Africa, called for the review of the nation’s foreign policy in view of the attacks. He also suggested that Nigeria should move for the suspension of South Africa from the African Union (AU). “Africa is the priority in Nigerian’s foreign policy; it is important that we look at that. Is it still imperative that Africa remains the cornerstone of our foreign policy? When South Africans in their deluded minds begin to see what happens as history and sweep it under the carpet, one begins to question if it was right to have emancipated them from the shackles of the apartheid. There has to be a resolution by Nigeria to the African Union to suspend South Africa from the AU because that is the only thing that will send a clear signal,” Ningi canvassed. The Deputy Senate Leader said that Nigeria needed to review its economic policy with South Africa as the nation has a number of multinationals operating in Nigeria unhindered while Nigeria has none in South Africa. Senator Helen Esuene (Labour Party – Akwa Ibom South) while condemning the attacks, commended Nigerians for the maturity they had exhibited so far by not taking laws into their hands through reprisal on South African businesses in Nigeria. She explained that the South African citizens tended towards violent lifestyle because most of them did not experience normal family life due to protracted wars and apartheid in the country. She urged the South African government to evolve a programme that could inculcate normal family values in the citizens. Senator Boluwaji Kunlere

(PDP – Ondo South) while joining to condemn the attacks, said that it was imperative for Nigeria to attach more importance to the lives of her citizens. He said that the people of South Africa may have perceived that Nigeria did not attach importance to the lives of her citizens going by the insurgency witnessed in various parts of Nigeria. “It might be because we don’t value the lives of our people here, so they treat us the way we treat our own people. Our own countrymen are killed by fellow countrymen; therefore, they think they can add to our pain, this is completely wrong. This is a continuation of the old hatred of South Africa against Nigeria. I will advise that the South African Government be implored to adopt the rehabilitation programme which was done for the Niger Delta militants,” he suggested. Spokesman of the Senate, Senator Enyinnaya Abaribe urged the Nigerian government to ensure protection of her citizens wherever they live in the world. Also, Senator Nkechi Nworgu (Abia South) lamented that it appeared as if the South African government and the youth in that country had forgotten the role Nigeria played to stop apartheid in the country. The lawmaker said that the matter should not be waved aside by the government. She further reminded the South Africans that they could not exist as an Island and needed other countries. Senators Kabiru Gaya and Gbenga Ashafa also condemned the act while calling on the Federal Government to rise and take deliberate steps to protect Nigerians wherever they live. The Parliament of the Economic Community of West African States (ECOWAS) also joined others to condemn the xenophobic attacks, describing it as barbaric and unAfrican. The ECOWAS Speaker and Deputy President of the Senate, Senator Ike Ekweremadu, said the attacks were criminal disrespect for the brotherhood Africans share.

For them to repay us this way, I think it is totally unacceptable and uncalled for

He said: “It is a tale of shame and betrayal that has no root in our ways of life as Africans and is certainly in dissonance with the 21st century realities where globalisation, international treaties and charters on human rights and economic integration hold sway. “The attacks are both barbaric and violate those things that hold us together as members of the African Union. They are a banal demonstration of ungratefulness for the collective sacrifices by the African people to end apartheid in South Africa.” Ekweremadu called on the Government of South Africa to take concrete steps to end what he termed “man’s inhumanity to fellow man.” “Those involved in this criminality must be fished out and punished accordingly to deter others and to demonstrate in practical terms that Africa cannot afford to dismantle one form of apartheid only to replace it with yet another brand of the same or worse evil,” he emphasised. Senate resolutions Flowing from the prayers of the motion therefore, the Senate passed resolutions towards tackling the problem. First, it urged the Federal Government to recall Nigeria High Commissioner to the Republic of South Africa for consultations on the recent xenophobic attacks on Nigerians other immigrants in South Africa by the South African citizens. That has been done. The Senate also summoned the Minister of Foreign Affairs to appear before its Committee on Foreign Affairs in order to brief it on the situation and measures taken so far by the Federal Government to safeguard the lives and property of Nigerians in South Africa. The Upper Chamber further urged the Federal Government to pressurize the government of South Africa to bring the perpetrators of the evil act to justice and ensure adequate protection of Nigerians and their investments in the country as well as compensate families who lost members and property as a result of the

attacks. It also urged Federal Government to file a suit at the International Criminal Court (ICC) against the Zulu King, who allegedly instigated the attacks on foreign nationals in South Africa. In his comment, the President of the Senate, Senator David Mark, warned that the government and people of South Africa should not push Nigerian government too far to react in a manner that would be regrettable. “What is happening in South Africa is totally unacceptable; it is unexpected and my humble suggestion will be that South Africa should not stretch us beyond our elastic limit on this matter. There is a limit beyond which the nation will not accept what is happening in South Africa; and if we go beyond that limit then Nigeria will be forced to act otherwise. “All of you have very clearly enumerated the assistance we gave to South Africa to liberate them when they had their crises; students contributed, we accommodated so many of them, we gave them scholarships. For them to repay us this way I think it is totally unacceptable and uncalled for. We need to stand up also for all other Africans in South Africa,” he stated. Mark described the pictures shown on the attack as very barbaric and therefore, urged that all those involved must be punished, condemning the Zulu King’s comments, and insisting that the South African government must show Nigeria and the rest of Africa that they have taken legal steps against those who were involved. Although the various segments of Nigerian populace have spoken and condemned the unwarranted violence against Nigerians in South Africa and at home are more interested in seeing practical steps towards addressing the situation and ensuring that such attack is not repeated on Nigerian immigrants in the former apartheid enclave. Nigeria’s foreign policy, particularly her relations with South Africa can be reviewed to forestall this kind of assault.

Politics 41

NEW TELEGRAPH WEDNESDAY, April 29, 2015

After four months of deliberation and consideration, the House of Representatives finally passed the 2015 appropriation bill last Thursday, raising it by N135 billion. PHILIP NYAM captures sectors that were tinkered with

How Reps raised 2015 budget by N135bn

n December 2014, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi OkonjoIweala laid before the National Assembly on behalf of President Goodluck Jonathan the 2015 appropriation bill with an estimate of N4.357.960 trillion. This proposal was less than the 4.7 trillion 2014 budget. The government explained that the cut in the proposed budget was to minimise waste and also encourage diversification to other sectors other than oil. But after consideration of the proposed budget, the House approved the sum of N4.493 trillion for 2015 representing an increase of N135.4 billion from the initial N4,357,960 trillion proposed by the executive. The budget, which was passed at the Committee of Supply presided by Speaker Aminu Waziri Tambuwal was however N67,433 billion higher than what was contained in the report of the Joint Committee On Finance and Appropriation presented to the House a day earlier. In other words, the report on the budget was tinkered with. In the report, the joint committee had proposed a total of N425,425,930,000 trillion. But the following day, certain adjustments were made leaving the final figure at N4,493,363,957,158, which was eventually approved. The increment however affected only the statutory transfers which was raised from N366.280 billion to N375.616 billion. Areas raised In tinkering with the original proposal, the House raised the Niger Delta Development Commission’s allocation from N45.780 billion to N46.720 billion; Universal Basic Education’s allocation

Okonjo-Iweala laying the 2014 budget before the National Assembly.

was raised from N67.3 billion to N68.380 billion; National Assembly’s allocation was raised from N115 billion to N120 billion; Public Complaint Commission’s allocation was raised from N2 billion to N4 billion while National Human Right Commission’s allocation was raised from N1.2 billion to N1.516 billion. Untouched There were some areas that the lawmakers left untouched. For example, the House retained the sums of N73 billion for the National Judicial Council (NJC) and N62 billion for the Independent National Electoral Commission (INEC). Other allocations Details of the passed budget showed that N375.616 billion is for statutory transfer; N953.620 is for debt service; N2.607 billion is for recurrent (non-debt) expenditure while the sum of N642,848,999,699 inclusive of N144.420 billion is for capital expenditure in statutory transfers. Under the N1,993,891,830,842 recurrent (non-debt) expendi-

Any hope for Governors’ Forum? C O N T I N U E D F R O M PA G E 1 4

ment account, which simply reduced the third tier of government as mere appendages of state governors. The most disturbing aspect is absence of separation of powers at the state level. The legislature and the judiciary are at the beck and call of the state governors. Even on critical national issues brought on the floor of National Assembly, federal lawmakers often vote based on the dictates of their governors. Otherwise, they will risk recall from their constituents. There is no independence in the operations of the State Independent Electoral Commission

(SIEC), otherwise, why was it that no opposition candidate wins election into the council executive or legislative arms. This is because both the SIEC chairmen and members are appointees of the state governors, and in most cases, members of the party in power in the state. It is the belief of most critical Nigerians that the NGF simply turned state governors benevolent dictators and hence the call for it to be disbanded. As President Jonathan has succeeded in putting the NGF in comatose until he leaves office, Nigerians are looking forward to know how the Forum will fare under General Buhari administration.

ture, Education got the highest allocation of N392,242,784,654 followed by Defence/MOD/ Army/Air Force/Navy with N326,697,219,431 and Police formation and Commands with N303,822,224,611 while the sum of N236,975,742,847 is for Health sector. The breakdown shows that the sum of N152,999,047,466; N69,423,427,479 is for Youth Development; N62,226,771,999 is for office of the National Security Adviser; N58,293,428,177 is for Petroleum Resources; N48,299,630,506 is for Secretary to the Government of the Federation; N41,688,372,171 is for Foreign Affairs while N31,871,341,597 is for Agriculture and Rural Development. The sums of N26,593,880,816 is for Science and Technology; N25,177,777,661 is for Works; N23,695,474,427 is for Information; N20,085,865,120 is for Presidency; N18,118,392,153 is for Tourism, Culture and National Orientation; N15,602,574,341 is for Environment; N10,978,094,393 is for Trade and Investment while N10,597,851,549 is for Communication Technology. From the N13,965,664,092 approved for the eight Federal Executive bodies, the sums of N5,299,416,374 is for National Population Commission; N1,935,767,344 is for Code of Conduct Bureau; N473,656,088 is for Code of Conduct Tribunal; N2,214,028,373 is for Revenue Mobilisation Allocation and Fiscal Commission; N1,129,445,636 is for Federal Civil Service Commission; N740,477,185 is for Police Service Commission while N2,172,873,092 is for Federal Character Commission. Out of the sum of N368,335,011,023 approved for Service Wide Votes, the sum of

N20.270 billion is for Zaman Lafiya; N22 billion is for operations – Internal for the Armed Forces; N9.6 billion is for payment to Nigerian Army Quick Response Group including arrears; N5 billion is for payment of outsourced services; N2.3 billion is for entitlements of former Presidents/ Heads of State and Vice Presidents/Chiefs of General Staff; N5.5 billion is for Employees Compensation Act – Employees Compensation Fund; N17.5 billion is for General Election logistic support; N17,397,993,277 is for Contingency; N6 billion is for country’s contribution to West African Examination Council (WAEC); N4.5 billion is for assessed contribution to African Union and others; N5 billion is for margin for increases in costs; N11 billion is for external financial obligations; N3,099,600,000 is for recurrent adjustment; N38,987,017,746 is for public service wage adjustment for MDAs (including arrears of promotion and salary increases) while N11.755 billion is for improved remuneration package for the Nigeria police. The sum of 60,251,158,887 is for payment into the redemption fund (15 per cent of total personnel cost); N18 billion is for arrears of 33 per cent increase in pension rates; N3.750 billion for arrears of police death benefits (2004-2010); N14,690,036,516 for Group Life Insurance for all MDAs including DSS; N1 billion for Armed Forces enhanced retirement benefits of Commodores and above; N2.995 billion for severance benefits of Delta Steel Company/Pension pay-off; N3,544,110,811 is for NHIS (Military retirees) while the sum of N36 million is for administration and monitoring of (OHCSF) Group Life. From the total sum of N63,281,093,786 earmarked for presidential amnesty programme, the stipends and allowances of 30,000 Niger Delta ex-militants is to gulp N23.625 billion; N5,502,447,783 is for Presidential amnesty operational cost; N34,153,646,003 is for reintegration of transformed ex-militants while zero allocation is for reinsertion/transition safety allowances for 3,642 ex-militants (phase 3). According to the report, the sum of N498,428,999,699 was set aside for capital expenditure of various ministries, departments and agencies (MDAs) in addition to the sum of N144.420 billion as capital expenditure in statutory transfers. Out of the total sum of N953.62 billion approved for debt servicing, the sum of N894.610 billion is for domestic debt while N59.010 is for foreign debts. Whether President Jonathan will accept to sign the budget with the increments as approved by the House remain to be seen.

42 Politics

Fasoranti CONTINUED FROM PAGE 13

thrown out of office. That bickering paved the way for successive crisis within the group. With the 2003 election approaching then, AD ably backed by Afenifere decided to accommodate Obasanjo’s second term and in turn expected support at the state level for their re-election. That decision was later to be tagged South-West political tsunami because it consumed all the AD governors except for Tinubu in Lagos State. Shedding light on the 2003 election miscalculations of the group and its adopted party, Chief Adebanjo said in an interview that, “nobody had an agreement with Obasanjo. It was only the governors that had an agreement with him, and I’ll tell you how. At that time, Obasanjo was shaking whether they were going to elect him the second time, and he wanted our support. So, when he came, we said it would be done on one condition. We wanted a national conference. At that meeting, neither myself nor Pa Adesanya spoke. It was Cornelius Adebayo, Okurounmu and others who spoke at that meeting. “When we raised that point, Obasanjo now said, if it is a question of national conference, you should go and talk to other regions so that they will not think it was a Yoruba request. “Obasanjo later tricked them that if they supported him, he wouldn’t allow anybody to contest against them. Tinubu knows how he won his battle and knows how others fared. Osoba was too trusting on Obasanjo. The point is, the then AD governors were given a serious let down because they were disloyal to their leadership and subjected themselves to Obasanjo. That singular episode marked the beginning of crisis in Afenifere.” With the tide changed, Tinubu, who was the only AD governor left out of the six became the rallying point for his party and former colleagues but dissociates himself from Afenifere leaders. Not long after, Tinubu and his former colleagues formed Action Congress (AC). However, former Ondo State governor, Adebayo Adefarati chose to be different in

WEDNESDAY, April 29, 2015 NEW TELEGRAPH

Mimiko

Adebanjo

Afenifere’s costly gambit ideology and refused to leave AD. The late Adefarati later became AD presidential candidate in the 2007 elections. ARG came on board With obvious cracks in the wall of Afenifere, a reactionary group emerged from its fold – Afenifere Renewal Group (ARG). The new group which supposedly had the backing of some leaders in the zone, chose Wale Oshun as its leader. On its mission, ARG said: “We of the Afenifere Renewal Group (ARG), a group of the younger elements within the progressive camp in Yorubaland who have been meeting and organising for change in the direction of politics in Yorubaland and ultimately in Nigeria, do hereby announce our resolve to seize the mantle of an heritage that has served us so well as a people but one that is unfortunately currently tottering.” Speaking with New Telegraph, the publicity secretary of ARG, Kunle Famoriyo, said: “There has never been any fight between ARG and Afenifere. There is no competition between the two of us. It is like when you say Ansar-ud-deen and Ahmadiya; it is like saying Catholic and Methodist, they are both serving the same God. We are both on track for Yoruba interest and the word ‘Afenifere’ is copyright Yoruba and not exclusive preserve of anyone.” Conscious that AD has run out of steam, in 2007, Afenifere floated the Democratic Peoples’ Alliance (DPA). The party adopted Mr. Jimi Agbaje as its governorship candidate in Lagos. It also created the Social Democratic Mega Party (SDMP) in 2011, but none flew as the AD did in 1999. Jonathan’s endorsement In the run-up to the 2015 general elections, the group pitched its tent with President Goodluck Jonathan in the battle for the soul of the region between the PDP and the All Progressives Congress (APC).

We have no regrets supporting Jonathan because we have always been taking our decisions based on principles

Afenifere said its primary reason for endorsing Jonathan as its candidate was based on the pronouncement of the president that he would implement the recommendations of the 2014 National Conference. According to the leader of the group, Fasoranti, in his speech read by Afenifere secretary general, Bashorun Seinde Arogbofa, when the president paid a courtesy visit on the leader of the group in his house, he said the 2014 National Conference where vital decisions that would end the imbalance in the country were taken, was the fulcrum of their action. They said if the president is re-elected, he would be able to fully implement the reports unlike those who boycotted the confab because they did not believe in it. “As you know, Afenifere is a socio-political association. We have always spoken out our minds on matters that affect our country. We, therefore, want to say it loud and clear that after considering so many things, the Nigerian constitution inclusive, we see you as the best option for now to continue as the president of our dear country, and consequently call on wellmeaning Nigerians to join us.” Contending against the endorsement, the ARG noted that the use of ‘Afenifere’ to promote President Jonathan was fraudulent and an attempt to deceive the Yoruba people. “The ARG does not dictate to the generality of the Yoruba people, rather it gives voice to their feelings and aspirations. The extensive consultations we have made showed that Yoruba people have come to a firm conclusion that they have been at the shorter end of the stick in the Jonathanled government, under whose administration nepotism and ethnocentrism have taken over as the emblem of our presidential politics.” The outcome The March 28 election in the South-West turned against Af-

enifere and its candidate, Jonathan. Aside losing to Buhari with over 600,000 votes, the PDP lost all the states in the region except Ekiti. Even the perceived influence of Governor Olusegun Mimiko of Ondo State, who was at the heart of strategies for Jonathan in the zone could not stop Buhari from amassing a whopping 2.4 million votes in the region. Buhari polled 299,889 votes in Ondo, 308,290 in Ogun, 528, 620 in Oyo and 383,603 in Osun while Jonathan had 251,368; 207,950; 303,376; 249,929 respectively. In Ekiti, Jonathan polled 176,466 votes while Buhari had 120,331 votes. In Lagos, Buhari polled 792,460 votes against Jonathan’s 632,327. What went wrong? For some analysts, Jonathan performed remarkably well in the South-West given the potency of the re-alignment of political forces in the zone. But in the same breadth, it is averred in some quarters that those the president allied with in the zone are “dead woods” that had no political relevance or influence on the perfectly poised and discerning South-West electorate. It’s also being argued in some quarters that regardless of the alliance or fronts the president was keeping, the perception of the region from what it used to be in 2011 about President Jonathan had changed and as such, there was no way Afenifere or any group could penetrate. Also, it was believed that Afenifere was fighting a lost battle with a regular foe in Tinubu. Those with this thinking believe that the group will always oppose to Tinubu’s plan and they believe that the former Lagos State governor took them for a ride at the advent of the Fourth Republic, hence, there is a score to settle. However, in some instance, it was clearly believed that the Afenifere was hyped more than its status as there is a wide disconnect between the group and the people of the region.

Politics 43

NEW TELEGRAPH WEDNESDAY, April 29, 2015

The fading Afenifere

Odumakin

According to Famoriyo, his faction of Afenifere, the ARG, knew where the pendulum would swing to hence the decision not to follow an unpopular path. He said: “We are on the field, we know what is going on and we know what our people wanted. That was why we were sure that those who were pushing for Jonathan in the SouthWest were only wasting their time. “Majority of our people have made up their minds regionally and nationally. We don’t talk emptily or from emotion, we talk from reality, you don’t need a clairvoyant to tell you that Jonathan and his supporters in the South-West, it is there on the street for all to see.” No regret supporting Jonathan Speaking with New Telegraph, Afenifere’s Publicity Secretary, Yinka Odumakin said: “Afenifere’s support of Jonathan did not go awry in the South-West. If you look at the result of the South-West election for presidential, despite all the riggings and manipulations, South-West result for Jonathan was 44 per cent. So, you cannot say 44 per cent was awry. In the whole of the South-West, the majority of votes APC could get was only 500,000 less than what Jigawa gave to Buhari. In fact, South-West was the only region where the election was fought on the basis of ideas. So, the outcome through the number of votes gotten from the region was an encouragement to us. “We have no regrets supporting Jonathan because we have always been taking our decisions based on principles, that was what Awolowo led us to do. Awo’s greatness was not measured by carrying ballot boxes that he has won elections. We stood with our belief and if that situation repeats itself tomorrow, we will do the same thing. We have no problem or regrets in picking and supporting whoever says he wants to

restructure Nigeria.”

Afenifere congratulates President-elect Afenifere said the result of the election should be acceptable to all and called on the Presidentelect, Buhari, to implement the report of the 2014 Confab. Leader of the group, Chief Fasoranti, who described the election as unprecedented in the history of Nigerian politics disagreed with the call in some quarters that the Independent National Electoral Commission (INEC) should cancel the elections, saying, “It

is clear from what we can see that it was fair, free and devoid of violence. I hope we will be able to replicate this in future.” Fasoranti urged the incoming APC government to play politics that is free from bitterness, rancour and hatred, saying the interest of the people should be paramount. Reputation at risk According to Odumakin, the group has come a long way and its prestige would not be determined by the outcome of

an event. He said: “For those who are saying that Afenifere will go into oblivion and has lost its credence, they are simply poor students of history and they don’t know their left from their right. We have come a long way as a group. Those who are celebrating momentary victory, we will see in the next six months. “We remain strong, we remain here because the issues we spoke about and some people are agitated, I can tell you that the issues are coming

back to address them too. Afenifere still remains the voice of the Yoruba because nothing has happened. We engaged Abacha, Obasanjo and others, they have become history but we are still here. And except this one also does what is right, this too shall pass away. We will be here engaging and we dey kampe!” The 2015 polls have come and gone, it is only left to be seen whether the lessons learnt during the elections will prove enduring.

Business | Money Line

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

NNPC audit report shifts focus on IFRS’ adoption

Spotlight

Public interest entities were to adopt IFRS by January 2013 Tony Chukwunyem

he ongoing debate over the Price WaterHouse Coopers’ (PwC) forensic audit report on the operations of the Nigerian National Petroleum Corporation (NNPC) has drawn attention to the extent of the public sector’s adoption of International Fi-

idelity Bank has said it first-quarter Profit Before Tax (PBT) rose 5.6 per cent to N4.71 billion from a year ago. The bank also said gross earnings climbed to N34.82 billion versus N30.95 billion in the same period last year. Commenting on the results, FBN Capital Research said, “Although Profit After Tax (PAT) of N5.0billion grew 27 per cent y/y, this was mainly due to a positive N956million result on the other comprehensive income line. Excluding the latter, PAT was up by just 6 per cent y/y. PBT grew by the same rate. In terms of the contributions of the dif-

nancial Reporting Standards (IFRS), financial analysts have said. Following allegations by the former Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi, last year that the NNPC had failed to remit $20billion to the Federation Account, the Federal Government had hired PwC to audit the operations of the corporation. Although in the report submitted by the audit firm, it claimed

that the NNPC was yet to remit $1.48billion and not $20billion to the Federation account, the pledge by the incoming administration to probe Sanusi’s claim, led to President Goodluck Jonathan directing that the report be immediately released. Since the release of the report last Monday night, it has attracted diverse reactions from industry watchers. But analysts told New

Telegraph that the audit report went beyond how thorough or not PwC was on its assignment, to the issue of the adoption of IFRS by public sector entities such as the NNPC. Senior Financial Analyst at Berta Associates, Timothy Mordi, argued that if the NNPC had adopted IFRS, there would have been fewer issues with its accounts. He said, “The IFRS are a set of international ac-

Fidelity Bank’s Q1 PBT rises by 5.6% ferent revenue lines, noninterest income was the standout performer, with a strong 65 per cent y/y growth to N7.7billion.” Continuing, the firm said, “We suspect that trading gains probably drove the strong non-interest income result since fees and commissions grew slower (+11% y/y) than the total. In contrast, funding income was down -4% y/y to N12.4billion. The former more than offset the latter such that profit before provisions increased by 14% y/y to N20.1billion.

“This teens growth was partly offset by negative trends in loan loss provisions (+154% y/y) and opex (+13 per cent y/y), leading to the mid singledigit growth in PBT. Sequentially, PBT was up 122 per cent q/q because both provisions (-58 per cent q/q) and opex (-13 per cent q/q) declined markedly, more than offsetting a modest decline of -4.5 per cent q/q in profit before provisions. PAT growth of 39 per cent q/q was less than that on the PBT line mainly because Fidelity recorded a tax

credit in Q4.” According to FBN Capital Research, “Compared with our estimates, PAT was ahead by 22per cent because we had a forecast of zero for other comprehensive income. PBT was 3 percent below our forecast. Although funding income surprised negatively, this was completely offset by a positive surprise in non-interest income. That PBT came in 3 per cent lower than we were forecasting was really down to provisions coming in 26per cent higher than we had forecast.”

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

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

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

Bid 12.10 12.10 12.05

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

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

counting standards that state how transactions and events should be reported in the financial statements of companies. Although the NNPC has peculiar issues, I believe that if it adopts the standards, there won’t be so much controversy about its accounts.” According to the Financial Reporting Council (FRC) that is charged with the responsibility of implementing the road map for adoption of IFRS in the country, listed and significant public interest entities were required to prepare their financial statements using applicable IFRS by January 1, 2012. Other public interest entities on the other

hand, were under obligation to adopt IFRS for statutory purposes by January 1, 2013. In addition, Small and Medium-Sized Enterprises (SMEs) were directed to adopt IFRS by January 1, 2014. But while banks in the country transited to IFRS last year in compliance with the FRC road map, many organisations in the public and private sectors are yet to comply with the IFRS. In a recent interview, the Executive Secretary of the FRC, Mr. Jim Obazee, said the Council would by the first quarter of 2015 publish the list of companies that are yet to comply with IFRS. He said the decision to publish the list was part of the Council’s strategy of “shaming’’ the affected companies into complying with IFRS. As he put it, “2015 is the scorecard on the adoption of IFRS in Nigeria.”

Standard Bank eyes growth in Africa

tandard Bank has said that it is working on growing headline earnings in its personal and business banking division in the rest of Africa to just more than a R1billion in the next three years through organic growth. According to the bank, this means that over this period, its personal banking division will turn profitable, although business banking is expected to be the biggest earnings contributor in the rest-ofAfrica personal and business banking division. Last year, Standard Bank’s personal and business banking division in the rest of Africa posted headline earnings of R105million, with Kenya, Mozambique and Zambia turning profitable for the first time. The previous year, the bank’s personal and business banking division recorded a loss of R366million. The R105millon profit was largely driven by the performance of the business banking operation, with Standard Bank managing to cut the losses in the personal banking space, Zweli Manyathi, the CE of its personal and business banking in rest of Africa operations said last Friday. “We expect to see headline earnings in excess of R1bn in three years’ time,” he said. In terms of investing for growth, he said Standard Bank had sunk billions of rand into its rest-of-Africa personal and business banking op-

erations. “We are busy with our core banking (systems) replacement. We aim to complete all countries at the end of the first quarter or second quarter in 2017. Six countries are already on board. The total investment is just over R4billion across all countries for the core banking platform,” he said. Mr Manyathi said Standard Bank was investing between R180million and R250million in advanced Automated Teller Machines (ATMs) bulk-deposit takers and mobile banking applications to improve the quality of banking. Standard Bank operates its personal and business banking division in 16 African countries. However, the entire Standard Bank Group has a presence in about 20 African countries, with corporate and business banking in the rest of Africa being the key earnings driver. In the 2014 financial year, Standard Bank’s entire rest-of-Africa operation posted R4.9billion in headline earnings. The Standard Bank Group posted total headline earnings of R17.3billion. Commenting on the personal and business banking approach in the rest of Africa, Mr Manyathi said: “Our strategy is to focus on what we call high-value segments, such as business banking, private banking and executive (middle income).” “The biggest part will come from business banking.”

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

FMDQ Daily Quotations List

28-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

4,246.27

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

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

1.30 2.00 2.25 2.34 3.09 4.17 4.49 4.80 6.75 8.88 13.59 14.07 14.56 15.24 19.22

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

13.63 13.78 13.82 13.83 13.91 13.98 14.03 14.03 14.00 14.01 16.74 17.15 17.61 15.47 13.94

13.50 13.69 13.74 13.75 13.78 13.89 13.92 13.95 13.94 13.95 16.68 17.07 17.51 15.40 13.89

99.28 102.24 92.49 91.26 92.13 106.15 77.16 105.07 110.14 100.91 90.73 75.50 52.68 68.25 88.09

99.43 102.39 92.64 91.41 92.43 106.45 77.46 105.37 110.44 101.21 91.03 75.80 52.98 68.55 88.39

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

0.07 1.06 1.61 1.98 2.19

2.63 2.27 2.00 2.69 2.85

13.55 16.07 15.71 16.48 16.67

98.99 101.16 100.35 100.42 96.73

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

320.86

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.34

4.44

16.70

98.55

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.42

3.23

15.89

98.81

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.70

4.46

17.80

97.59

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.70

3.48

16.82

99.10

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.98

1.31

15.10

91.54

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.24

1.00

14.75

98.87

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.68

1.79

15.66

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

2.06

1.80

15.61

97.32

14.00

9.00

04-Oct-18

2.07

1.00

14.81

98.60 99.45

‡ /Agusto; A+/GCR

*DELTA

96.43

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.05

1.00

14.80

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

2.05

4.78

18.58

92.76

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.24

1.00

14.82

101.14

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

*GOMBE LAGOS

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

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-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

2.68 4.57 2.64

1.00 1.00 1.00

14.87 15.03 14.86

101.25 98.26 99.75

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.78

10-Oct-20

3.19

1.00

14.92

99.58

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.58

1.00

15.03

94.31

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.68

1.00

15.03

99.81

‡ /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

3.34

1.44

15.38

97.82

06-Jan-14

15.00

4.56

06-Jan-21

3.37

1.00

14.94

100.08

99.06

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 438.70

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.31

1.00

13.09

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.37

1.00

13.37

99.50

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.45

2.63

15.40

99.42

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.42

1.00

14.70

97.86

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.49

1.34

15.03

98.99

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.43

1.00

14.84

96.33

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.44

1.88

15.58

103.71

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.70

1.00

14.73

101.80

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.87

1.00

14.77

104.88

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.87

1.00

14.77

101.83

A+/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.40

3.00

16.95

92.57

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.97

2.29

16.08

99.44

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

2.05

6.11

19.92

97.01

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.68

2.16

16.03

99.90

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.55

2.76

16.79

94.54

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.67

1.13

15.17

105.19

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

0.10

30-Sep-24

9.43

1.00

15.28

83.49

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.43

1.00

15.28

89.98

TOTAL OUTSTANDING VALUE

161.53

TOTAL MARKET CAPITALISATION

157.84

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.79

1.00

14.88

89.58

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

15.03

85.63

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.84

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.35

5.14

106.81

107.91

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.35

4.04

102.30

103.23

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.61

5.46

104.95

105.94

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,570.29

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.50

4.15

100.99

103.41

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.34

99.80

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

11.03

9.54

89.56

93.14

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.38

6.89

95.78

97.25

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.98

97.50

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

10.80

10.17

93.39

95.35

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

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

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

8.25 9.25 8.00

300.00 400.00 450.00

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

9.34 10.80 8.59

9.34 10.30 8.59

94.75 93.08 96.25

94.75 95.21 96.25

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.06

9.84

93.10

94.09

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,502.76

**Treasury Bills^ DTM 9 16 23 37 44 58 65 72

FIXINGS Maturity 7-May-15 14-May-15 21-May-15 4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15 9-Jul-15

Bid Discount (%) 5.31 9.97 10.56 10.64 10.28 11.61 11.39 10.25

Offer Discount (%) 5.06 9.72 10.31 10.39 10.03 11.36 11.14 10.00

Bid Yield (%) 5.32 10.01 10.63 10.75 10.40 11.83 11.62 10.46

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 8.9183 12.5638 13.6361 14.9202

Rate (%)

OBB

8.00

O/N

8.67

Tenor Call 1M

REPO

Rate (%) 9.00 9.50

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

197.45 201.81 202.13 202.87 204.24 205.60

197.55 201.93 202.28 203.37 205.31 207.21

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

28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14

15.00 12.49 8.50 10.00 12.1493

75.00 150.00 200.00 591.57 279.50

TOTAL OUTSTANDING VALUE

4,582.44

TOTAL MARKET CAPITALISATION

4,246.27

Rating/Agency

Issuer

Description

46Agency Bonds Business | Financial Market News FMBN

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

28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

13.59 14.07 14.56 15.24 19.22

16.74 17.15 17.61 15.47 13.94

16.68 17.07 17.51 15.40 13.89

Risk Premium (%)

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

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

0.07 1.06 1.61 1.98 2.19

2.63 2.27 2.00 2.69 2.85

31-Aug-15

0.34

4.44

TOTAL OUTSTANDING VALUE

Indicative Price

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH 13.55 16.07 15.71 16.48 16.67

98.99 101.16 100.35 100.42 96.73

16.70

98.55

320.86

12.50

LAGOS

*BAYELSA

8.50

T Nil

*DANA#{r}

MPR+7.00 DANA 9-APR-2018

A-/DataPro†; B+/GCR

*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

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

01-Apr-14

16.00

4.50

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

8.25 9.25 8.00

300.00 400.00 450.00

09-Apr-11

16.00

16.00 DANA II 1-APR-2019

*DANA

nternational Financial CEO, Zenith Bank Plc, Mr.Peter 15.25 NAHCO II 14-NOV-2020 NAHCO Cor16.45 UBA I 30-DEC-2021 A/GCR UBA poration (IFC), a member of Amangbo said, “As reputable 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR STANBIC IBTC the World Bank group yes- leaders in the African banking 13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC terday signed an agreement to industry with superior perforTOTAL OUTSTANDING VALUE provide a $100CAPITALISATION million loan fa- mance, Zenith Bank Plc will TOTAL MARKET cility to Zenith Bank Plc. continue to explore business opSupranational Bond The loan facility according portunities in strategic sectors 10.20 IFC 11-FEB-2018 AAA/S&P IFC to a statement, will increase the that will the much needed 11.25bring AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDB corporation’s lending to a vari- development to boost Nigeria’s TOTAL OUTSTANDING VALUE MARKET CAPITALISATION etyTOTAL of important economic sec- economy. By partnering with tors, boosting economic growth IFC, we hope to increase our Rating/Agency and further and job creation in Nigeria. Issuer lending activitiesDescription The $100 million loan facility strengthen our leadership posiFGN Eurobonds will be provided from IFC’s own tion.” 6.75 JAN 28, 2021 BB-/Fitch; B+/S&P account and Zenith Bank will IFC Country Manager for BB-/Fitch; FGN 5.13 JUL Lore, 12, 2018 said, useBB-/S&P the facility to reduce the Nigeria, Eme Essien BB-/Fitch;gap in critical sectors. lending “IFC is demonstrating its com6.38 JUL 12, 2023 BB-/S&P The facility according to the mitment to support the real secTOTAL OUTSTANDING VALUE statement, will also help reduce tor in the country through finanTOTAL MARKET CAPITALISATION the infrastructure-funding gap cial intermediaries. As part of Eurobonds in Corporate the country in particular, the that effort, IFC is working with 19, 2016 B+/Fitch; B+/S&P The lackGTBANK PLC I Zenith Bank Plc,7.50 toMAY help finance power sector. of infra7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC structure has been identified as a these critical sectors, and con6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC keyB+/Fitch; impediment to private sector tribute to the development of 6.00 NOV 08, 2018 B+/S&P GTBANK PLC to development 6.25 especially APR 22, 2019 B+/Fitch; BB-/S&P in Nigeria. ZENITH BANK PLC the economy and 8.75 May 21, 2019 of inB/Fitch; B/S&P DIAMOND BANK PLC create a sustainable Group Managing Director/ source A+/Agusto; A-/GCR

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

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

FMDQ Daily Quotations List8.75 14-Aug-14

04-Oct-18

2.07

1.00

14.81

98.60

09-Dec-18

2.05

1.00

14.80

99.45

12-Dec-18

2.05

4.78

18.58

92.76

14-Feb-19

2.24

1.00

14.82

101.14

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

9.34 10.80 8.59

9.34 10.30 8.59

94.75 93.08 96.25

94.75 95.21 96.25

14-Aug-21

10.06

9.84

93.10

1.00 14.87 101.25N6.023 adbury 2.68Nigeria review as against 4.57 1.00 15.03 98.26 posted 2.64a firstbillion recorded in 2013. 1.00 14.86 99.75 10-Oct-20 14.92 was also 99.58 down quarter3.19loss of1.00 Revenue 27-Nov-20 5.58 1.00 94.31 N303 million for the first by 15 15.03 per cent during the 31-Dec-20 5.68 1.00 15.03 99.81 quarter ended year-end bil31-Dec-20 3.34 March 1.44 15.38 from N35.760 97.82 06-Jan-21 1.00 14.94 100.08 31, 2015. This 3.37 compared lion in 2013 to N30.518 bilwith N1.15 billion profit lion in 2014. a year ago. The company’s dwinSimilary, revenues at dling fortune began with 17-Aug-15 0.31 1.00 13.09 the food and confectionthe first quarter99.06 of 2014 as 09-Dec-15 0.37 1.00 13.37 99.50 ery maker declined 3 per earnings 06-Jan-16 0.45 2.63 15.40 were compressed 99.42 29-Sep-16 1.42period to 1.00 14.70 sales leading 97.86 cent during the by weak to a 25-Oct-16 1.49 1.34 15.03 98.99 N6.73 billion, it said in dip in Pre-tax profit by 30-Sep-17 2.43 1.00 14.84 96.33 a30-Nov-17 statement but 31.31 15.58 per cent relative to 1.44 did not 1.88 103.71 09-Apr-18 1.70 for the 1.00 14.73 provide a reason the reduction in 101.80 gross prof09-Sep-18 1.87 1.00 14.77 104.88 quarterly loss.1.87 it to N1.15 billion101.83 in March 09-Sep-18 1.00 14.77 Cadbury had 2014 from billion in 22-Sep-18 3.40 reported 3.00 16.95 N1.68 92.57 1.97 2.29 16.08 99.44 8018-Oct-18 per cent drop in pre-tax March 2013. 17-Feb-19 2.05 6.11 19.92 97.01 profits for the 2014 financial This was principally 01-Apr-19 2.68 2.16 16.03 99.90 year as top-line and botdue to the decline of 43.64 14-Nov-20 5.55 2.76 16.79 94.54 30-Dec-21 6.67 showed 1.13 15.17 in net 105.19 tom-line earnings per cent finance 30-Sep-24 9.43 1.00 15.28 83.49 considerable decline with income to N274.59million 30-Sep-24 9.43 1.00 15.28 89.98 gross earnings equally in March 2014 from down by 15 per cent. N487.23million in March Key extracts of the au- 2013 according to market watchers. dited report and accounts 11-Feb-18 2.79 1.00 14.88 89.58 The decline in the first of01-Feb-21 the bank for 4.75 the year 1.00 15.03 85.63 ended December 31, 2014 quarter, which signaled released weekend at the signs of worry to invesNigerian Stock Exchange tors were sustained durMaturity Date Bid Yield (%) Yield (%) Bid Price Price (NSE) showed dropOfferin ing the secondOffer quarter as growths in key perfor-Prices the company posted a 50 & Yields mance indices, damping per cent decline in post 28-Jan-21 5.35 5.14 106.81 107.91 strong performance out- tax profits during the half12-Jul-18 4.35 leading 4.04 102.30 103.23 look of one of the year ended June 30, 2014. consumer goods compaIts half-year net earn12-Jul-23 5.61 5.46 104.95 105.94 nies in the country. ings also decreased from Consequently, profit N2.51 billion in 2013 to before tax fell by 80 per N1.26 billion, accounting cent to N1.467 billion from for a drop of 50 per cent. 19-May-16 billion 6.50 4.15 100.99 103.41 N7.421 recorded Cadbury’s pretax prof7.34 99.80 in25-Jul-17 2013, while 7.34 profit after it equally fell to99.80 N1.79 bil02-May-18 11.03 9.54 89.56 93.14 tax also decreased by 75 lion down 50 per97.25 cent from 08-Nov-18 7.38 6.89 95.78 per cent to N1.512 billion N3.58 billion in the same 22-Apr-19 6.98 6.98 97.50 97.50 21-May-19 the period 10.80 10.17 period 93.39 last year.95.35 during under 02-Oct-19 22-Nov-19 12-Dec-19

frastructure in Nigeria”. 2.05 14-Nov-13 finance 15.25 30-Dec-14 16.45 Addressing shareholders at 30.50 30-Sep-14 11.93 0.10 the bank’s recent general meet- 15.44 30-Sep-14 13.25 ing, the chairman of the bank, 161.53 Mr. Jim Ovia noted that Zenith 157.84 Bank both as a company and as a group was able to10.20 exploit the 12.00 11-Feb-13 opportunities within 10-Jul-14 11.25the envi- 12.95 ronment. 24.95 He said: “This translated into 21.84 another excellent performance Outstanding Value Issue Date Coupon (%) that further attests to the dura- ($mm) bility and resilience of the board. The results once again is an elo- 500.00 07-Oct-11 6.75 quent testimony to the sound fi12-Jul-13 5.13bank and 500.00 nancial health of our the group. 12-Jul-13 6.38 500.00 “As a group, the performance1,500.00 indicators were no less impres-1,570.29 sive. The group profit before tax grew by 8 per cent from N110.597 7.50 billion19-May-11 in 2013 to N119.796 billion 500.00 25-Jul-12 7.25 in 2014. Profit after tax increased 350.00 09-May-13 6.88 300.00 by 4 per cent during6.00 the period 400.00 08-Nov-13 from N95.318 billion to N99.455 22-Apr-14 6.25 500.00 21-May-14 8.75 200.00 billion.”

8.75 AUG 14, 2021

98.81Oil Plc share,15.89 while Forte 17.80 97.59 and May and Baker Plc 16.82 99.10 shed five 15.10 per cent 91.54each to 14.75 close at N187.72 98.87 and N1.71 15.66 96.43 per share respectively . 15.61 97.32

Cadbury records N303m loss in Q1

5.40

Zenith Bank gets $100m IFC facility #{r}

at30-Sep-15 87 kobo per0.42 share. 3.23 30-Jun-16 4.46 On the flip 0.70 side, Unity 30-Jun-16 0.70 3.48 Bank the losers’ 19-Apr-17Plc led 1.98 1.31 30-Jun-17 1.24 9.60 per 1.00 with a drop of 31-Dec-17 2.68 1.79 cent to close at N4.52 per 30-Sep-18 2.06 1.80

13.00 driven by activities2.16 in the 14.00 4.86 shares of UBA Plc and 15.50 5.73 Access Bank Plc. 57.00 10.00 13.75 Also, other 25.73 finan14.00 25.00 cial services sub sector, 14.00 30.81 14.00 by activities 9.00 boosted in 14.50 13.73 the shares of FBNH Plc, 14.00 10.20 followed 15.50 with a turnover 27.00 15.50 million 15.09 of 47.7 shares 14.50 80.00 valued at N394.6 million 14.75 25.70 10.78 in 94014.75 deals. 13.50 Further analysis87.50 of the 15.00 5.00 day’s 14.50 trading showed 4.55 that 15.00 Feeds Plc, 4.56PresLivestock 452.88 co Plc and Caverton Nige438.70 ria Plc topped the day’s gainers’ table with five 10.00 2.50 per cent each to close at 12.00 18.75 N2.31,14.00 N27.30 andN3.15 re0.42 13.00 , while Costain 15.00 spectively 14.25 5.53 West 13.00 Africa Plc followed 20.00 with 4.60 per cent to 18.00 0.64close

quoted companies. N64 19-Apr-10 10.00 LAGOS 19-APR-2017 equities depreciated by 30-Jun-10 13.75 BAYELSAand 30-JUN-2017 With only 17 gainers billion or 0.55 per cent from 30-Dec-10 ‡ /Agusto EDO 14.00 EDO 31-DEC-2017 32 losers, the14.00 key bench- N11.663 trillion the 30-Sep-11 previ‡ /Agusto; A+/GCR *DELTA DELTA 30-SEP-2018 Stories by Chris Ugwu 04-Oct-11 Bb-/Agusto; A-/GCR NIGER NIGER II 4-OCT-2018 ous day to N11.599 trillion. mark indices14.00 maintained 09-Dec-11 ‡ /Agusto; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 negative trajectory as acMeanwhile, a turnover 12-Dec-13 Bb-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 he Nigerian eqtivities in the shares of blue of 305.2 million shares 14-Feb-12 ‡ /Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE chip companies 15.50 GOMBE 02-OCT-2019worth N2.8 billion in uity market yesdragged 4,620 Aa-/Agusto; ‡ /GCR LAGOS 14.50 LAGOS 22-NOV-2019 22-Nov-12 terday plunged down the equity in the BBB-/Agusto; BBB+/GCR *OSUN 14.75 market. OSUN 12-DEC-2019 deals was recorded 12-Dec-12 10-Oct-13 BBB-/Agusto *OSUN 14.75 OSUN II 10-OCT-2020 further followTrading activities on day’s trading. 27-Nov-13 ‡ /GCR LAGOS LAGOS 27-NOV-2020 Just as in the previous the floor of13.50 Nigerian ingAa-/Agusto; massive sell off that 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 Stock Exchange had persisted on the local 31-Dec-13 ‡ /Agusto *EKITI 14.50 EKITI(NSE) II 31-DEC-2020 day, the banking sub-sec06-Jan-14 A-/GCR in recent times. *NASARAWA 15.00 NASARAWA 06-JAN-2021 bourse had the previous day also tor of the financial serTOTAL OUTSTANDING VALUE Market watchers be- closed in red following vices sector was the most TOTAL MARKET CAPITALISATION lieve investors are yet negative sentiments of active during (measured Bondsas bargain to Corporate get respite investors. by turnover volume); with 10.00 UPDC 17-AUG-2015 BBB+/Agusto *UPDC hunters continue to take Consequently , the All131.6 million shares17-Aug-10 worth 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 *FLOURMILLS profits Share Index dipped 187.8406-JAN-2016 N1.06 billion exchanged 14.00 CHELLARAMS BB/GCR from the share 06-Jan-11 *CHELLARAMS A+/Agusto; A-/GCRrecordedNAHCO appreciation re- basis points13.00 orNAHCO 0.5529-SEP-2016 per by investors in 1,51729-Sep-11 deals. 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH cently . This followed the cent to close at 34,129.88 as Volume in the banking 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA peaceful elections and against 34,317.72 recorded sub-sector was largely 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING A+/Agusto; ‡ /GCR

‡ /Agusto

Valuation Yield (%)

322.38

Sustained sell TOTAL MARKET CAPITALISATION pressure Sub-Nationaldepletes Bonds 31-Aug-10 A/Agusto KADUNA 12.50 KADUNA 31-AUG-2015 equities by N64 *EBONYI A-/Agusto 13.00 EBONYI 30-SEP-2015 the previous day, 30-Sep-10 while impressive first quarter 30-Jun-11 BBB+/Agusto *BENUE 14.00 BENUE 30-JUN-2016 of results posted by some market capitalisation billion 30-Jun-09 ‡ /Agusto *IMO 15.50 IMO 30-JUN-2016

Nil

91.03 75.80 52.98 68.55 88.39

Stock market extends losing streak ***LCRM

DROP

BBB-/DataPro†; BB/GCR

Issue Date

90.73 75.50 52.68 68.25 88.09

250.00

28-Apr-15 94.09

The DQLOUTSTANDING contains data relating instruments in the financial market (the “Information”). The Information does not constitute TOTAL VALUEto, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and 3,650.00 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 TOTAL MARKET CAPITALISATION 3,502.76 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. **Treasury Bills^ DTM FGN Bonds 9 16 23 Rating/Agency 37 44 58 65 72 79 86 93 100 107 NA 121 128 135 149 156 170 219 233 254 TOTAL OUTSTANDING VALUE 268 282 TOTAL MARKET CAPITALISATION 296 310 324 331 Rating/Agency 345

Maturity 7-May-15 14-May-15 21-May-15 Issuer 4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 NA 27-Aug-15 3-Sep-15 10-Sep-15 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 Issuer 7-Apr-16

Bid Discount (%) Offer Discount (%) 5.31 5.06 9.97 9.72 10.56 10.31 Description Issue Date 10.64 10.39 10.28 10.03 ^13.05 16-AUG-2016 16-Aug-13 11.61 11.36 ^15.10 27-APR-2017 27-Apr-12 11.39 11.14 9.85 27-JUL-2017 27-Jul-07 10.25 10.00 9.35 31-AUG-2017 31-Aug-07 11.31 11.06 10.06 9.81 10.70 30-MAY-2018 30-May-08 11.33 11.08 ^16.00 29-JUN-2019 29-Jun-12 11.36 11.11 7.00 23-OCT-2019 23-Oct-09 11.55 11.30 15.54 13-FEB-2020 13-Feb-15 12.02 11.77 ^16.39 27-JAN-2022 27-Jan-12 11.62 11.37 ^14.20 14-MAR-2024 14-Mar-14 12.06 11.81 15.00 28-NOV-2028 28-Nov-08 12.23 11.98 12.49 22-MAY-2029 22-May-09 11.73 11.48 8.50 20-NOV-2029 20-Nov-09 12.20 11.95 12.49 12.24 ^10.00 23-JUL-2030 23-Jul-10 12.48 12.23 ^12.1493 18-JUL-2034 18-Jul-14 12.77 12.52 12.81 12.56 12.70 12.45 12.66 12.41 12.57 12.32 12.60 12.35 12.62 Description 12.37 12.58 12.33

FIXINGS

Bonds

Bid Yield (%) 5.32 10.01 10.63 Coupon (%) 10.75 10.40 13.05 11.83 15.10 11.62 9.85 10.46 9.35 11.60 10.30 10.70 11.67 16.00 11.72 7.00 11.95 15.54 12.52 16.39 12.11 14.20 12.62 15.00 12.87 12.49 12.35 8.50 12.93 13.50 10.00 13.56 12.1493 14.02 14.14 14.08 14.10 14.07 14.19 14.25Date Issue 14.28

Money Market

NIBOR Tenor

Rate (%) 8.9183 Maturity Date 12.5638 13.6361 16-Aug-16 14.9202

Outstanding Value O/N 1M (N'bn) 3M 581.39 6M

476.80 20.00 100.00 300.00 Tenor 351.30 1M 233.90 2M 98.31 3M 600.00 6M 524.68 9M 75.00 12M 150.00 200.00 591.57 279.50

NITTY

NIFEX

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 Rate (%) 29-Jun-19 11.5165 23-Oct-19 12.0583 13-Feb-20 12.1362 27-Jan-22 13.1375 14-Mar-24 13.1867 28-Nov-28 14.2869 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

Current Price ($/N) BID($/N)4,582.44 199.0000 OFFER ($/N) 199.1000

4,246.27

Tenor

Rate (%)

OBB

8.00

TTM O/N (Yrs) 1.30 Tenor 2.00 Call 2.25 1M 2.34 3M 6M 3.09

REPO

Bid8.67 Yield (%) Rate13.63 (%) 13.78 9.00 13.82 9.50 13.83 9.75 10.00 13.91

Foreign Exchange (Spot & Forwards) Tenor

Offer Spot Yield 7D(%) 14D 13.50 1M 13.69 2M 13.74 3M 13.75 6M 1Y 13.78

4.17 13.98 13.89 4.49 14.03 13.92 4.80 14.03 13.95 :Benchmarks 6.75 14.00 13.94 * :Amortising Bond 8.88 14.01 13.95 µ :Convertible Bond 13.59Management Corporation 16.74 16.68 AMCON: Asset of Nigeria 14.07 17.15 17.07 FGN: Federal Government of Nigeria 14.56Mortgage Bank17.61 17.51 FMBN: Federal of Nigeria IFC: International 15.24 Finance Corporation 15.47 15.40 LCRM: Local Contractors Receivables 19.22 13.94 Management 13.89

NOTE:

NAHCO: Nigerian Aviation Handling Company O/N: Overnight UPDC: UAC Property Development Company WAPCO:West Africa Portland Cement Company

Bid ($/N)

Price

197.45 Bid Price 201.81 202.13 99.28 202.87 102.24 204.24 92.49 205.60 91.26 206.28 220.29 92.13

Offer ($/N) 197.55 Offer Price 201.93 202.28 99.43 203.37 102.39 205.31 92.64 207.21 91.41 213.47 226.27 92.43

106.15 106.45 77.16 77.46 105.07 105.37 NA :Not Applicable 110.14 110.44 ^ : Market Prices 100.91 101.21 # : Floating Rate Bond 90.73 ***: Deferred coupon bonds91.03 75.50 75.80 52.98 ‡ : Bond 52.68 rating under review †: Bond rating expired 68.25 68.55 N/A :Not 88.09 Available 88.39

{r} :Issuer in receivership

NGC: Nigeria-German Company UBA: United Bank for Africa

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 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

0.07 1.06 1.61 1.98 2.19

2.63 2.27 2.00 2.69 2.85

13.55 16.07 15.71 16.48 16.67

98.99 101.16 100.35 100.42 96.73

Agency Bonds 0.00 FMB 24-MAY-2015 *for the Amortising bonds, the average life is calculated FMBN and not the duration

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

17.25 FMB II 03-APR-2017

Risk Premium is a combination of credit risk and liquidity risk premiums 0.00/16.00 LCRM 08-DEC-2016 **Exclusive of non-trading t.bills

***LCRM

0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

322.38

FMDQ FGN BOND INDEX320.86

TOTAL MARKET CAPITALISATION Sub-National Bonds

Modified Duration Buckets

A/Agusto

KADUNA

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

‡ /Agusto

*IMO

A+/Agusto; ‡ /GCR

LAGOS

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

<3 3<5 >5

*BAYELSA Market EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN

Porfolio Market Value(Bn)

12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 1,437.53 14.00 BENUE 30-JUN-2016 1,165.02 15.50 IMO 30-JUN-2016 627.94 10.00 LAGOS 19-APR-2017

13.75 BAYELSA3,230.48 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 10-OCT-2020

Total Outstanding Volume(Bn)

1,409.48 1,099.68 846.07 3,355.23

Weighting by Outstanding Vol 31-Aug-10

30-Sep-10 42.01 30-Jun-11 32.78 30-Jun-09 25.22 19-Apr-10

100.00 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 10-Oct-13

Weighting by Mkt Value 12.50

13.00 14.00 15.50

44.50 36.06

Bucket Weighting

8.50

2.16 4.86 5.73

0.42 0.33

% Exposure_ Mod_Duration 31-Aug-15

Implied Yield

0.34

30-Sep-15 19.88 30-Jun-16 38.42 30-Jun-16 41.70 19-Apr-17

0.42 13.83 0.70 14.01 0.70 14.89 1.98 2.68

10.0019.44 100.00 13.75

57.00 0.25 25.73 1.00

14.00

25.00

31-Dec-17

14.00

30.81

30-Sep-18

2.06

14.00

9.00

04-Oct-18

2.07

14.50

13.73

09-Dec-18

2.05

14.00

10.20

12-Dec-18

15.50

27.00

14-Feb-19

2.24

15.50 14.50 14.75

15.09 80.00 25.70

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

2.68 4.57 2.64

14.75

10.78

10-Oct-20

3.19

100.00 30-Jun-17

14.34 1.24

2.05

Implied Portfolio Price 4.44

3.23 104.6123 4.46 109.3438 3.48 77.0594 1.31 99.2152 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 1.00 1.00

INDEX

16.70

15.89 1,172.07 17.80 1,091.04 16.82 1,083.07 15.10 1,121.12 14.75 15.66 15.61 14.81 14.80 18.58 14.82 14.87 15.03 14.86 14.92

YTD Return (%) 98.55

98.81 5.7970 97.59 7.7497 99.10 7.5530 91.54 6.2492 98.87 96.43 97.32 98.60 99.45 92.76 101.14 101.25 98.26 99.75 99.58

NEW TELEGRAPH WEDNESDAY, april 29, 2015

News 47

south - east

Enugu: Ministries, agencies in rush for submission of handing over notes transition

Agencies in frenzy to meet deadline for handover Uwakwe Abugu Enugu

see it as important than making fanfare of inaugurating a transition committee.’’ “I can tell you that the SSG is coordinating the activities of the various relevant officials getting their hand-over notes ready and these documents coming from

them would be the main guide of the transition committee; of course, you know that the new governor would be more interested in the contents of these notes”, the source said. However, in line with the concern raised in some quarters by claim

that Governor Chime, has yet to set up a transition committee, a PDP chieftain, told New Telegraph, that he was not comfortable that the committee’s activities had not been brought to the public glare, by way of inaugurating it. Another source close

to the governor stated yesterday that what was important was that much work has already been done and all efforts were geared towards a hitch-free transition from Governor Chime administration to the in-coming Ugwuanyi’s government.

head of the May 29 hand-over date, commissioners, per manent secretaries and other relevant government agencies and departments are said to be putting finishing touches to their handing over notes to beat the deadline for submission to the Transition Committee headed by State Deputy Governor, Rev. Ralph Ifeanyi Nwoye. Governor Sullivan Chime, had set up a transition committee, which is headed by the Secretary to the state government, Mr. Amechi Okolo, who is said to be busy coordinating the maze of hand-over notes coming in from the various government departments. State Publicity Secretary of the People’s Democratic Party (PDP), Dr. Okey Eze, confirmed the setting up of the transition committee made up of the Deputy Governor, Secretary to the State Government, the Chief of Staff to the Governor, Mr. Victor Atuonwu, State Commissioner for Information, Mr. Chuks Ugwoke, as well as other members picked to enlarge the committee like the state Chairman of PDP, Chief Ikeje Asogwa, State Woman leader of the party, among others. A Government House source told New Telegraph that presently, the process of preparing handover notes was in top gear, saying, ‘’we

L-R: Traditional ruler of Awka, Igwe Gibson Nwosu; President of Oniccima, Dr. Tim Anosike and Deputy President, Mr Uche Apakama, during Oniccima's AGM in Awka…yesterday

Umuahia

ome Journalists in Abia State yesterday openly protested their exclusion from the maiden media briefing of the state Governor –elect, Okezie Ikpeazu, organized to set agenda for his government, describing the incident as a bad precedence The journalists, who

Uchenna Inya ABAKALIKI

he Peoples Democratic Party (PDP) has won the supplementary elections conducted in the five state constituencies in Ebonyi State last Saturday. The five constituencies include: Ezza North-East, Ezza North-West, Ohaukwu North, Ohaukwu South and Abakaliki South constituencies. Elections in the affected areas held on April 11, were declared inconclusive by the Independent National Electoral Commission (INEC) following violence and other forms of disturbances that characterised the process. Declaring the results of the supplementary elections, the INEC Resident Electoral Commissioner in the state, Dr. Lawrence Azubike, said, “We have completed elections in the five state constituencies and have results that have produced members into the 24-member State House of Assembly. He noted that the conduct of the elections was generally peaceful, stating that though there were reported cases of electoral violence and snatching of electoral materials during registration in Oriuzor, Ezza North LGA.

Hope Party calls for cancellation of Imo guber poll Steve Uzoechi OWERRI

he Hope Democratic Party has called on the Independent National Electoral Commission (INEC), to cancel the just concluded Imo governorship election, stating that the call was being necessitated by the omission of its logo from the ballot paper. Addressing newsmen in Owerri, the Imo state capital, the state Adminis-

trative Secretary, Anucha Chukwuemeka, said that the party's governorship candidate Munonye Ikechukwu Obi, had already briefed his team of lawyers to approach the election petitions tribunal, if INEC fails to do the needful on the demand of the party. He said: "We wish to draw the attention of relevant authorities, especially the INEC, to the omission of the logo of Hope Democratic Party in the ballot paper during the just concluded governorship elec-

Journalists protest exclusion from Ikpeazu’s media coverage Igbeaku Orji

PDP wins Ebonyi re-run election

marched to the Nigeria Union of Journalists (NUJ) press center, Aba Road, Umuahia, after the select team were admitted into the Governor-elect’s country home in Umuobiakwa in Obingwa LGA, said the issue must not be allowed to go unaddressed. They also complained that prior to the Monday briefing, they were also excluded from an event on Sunday upon invita-

tion extended to members of the media for an event at the Government House. They further said that while they were waiting at the Lodge, the Commissioner for Information and Strategy, Chief Anthony Agbazuere, called one of the journalists who returned with the information that they should leave with the assurance that they would be invited when they were needed.

tion in Imo state. Our party, has in conformity with the constitution, electoral act and INEC guidelines which validly nominated Mr. Munonye Ikechukwu Obi, as the party’s governorship candidate for Imo State, fulfilled all INEC requirements expected of a governorship candidate. INEC, on the other hand, acknowledged all the correspondences of the party advanced in the course of Mr. Munonye Ikechukwu Obi's nomination. "Our candidate cam-

paigned across the 27 local government areas of the state, soliciting for votes from the electorate. His electioneering messages focused on salient issues like perfecting the free education policy, giving bursaries to Imo students in tertiary institutions, constructing quality roads, delivering quality and affordable healthcare services, building peopleoriented infrastructure and restoring decency in governance by respecting the rule of law and due process."

Jonathan's govt enhances local health manpower — Minister Uchenna Inya ABAKALIKI

inister of State for Health, Fidelis Nwankwo, has said that provisions of modern health care infrastructure were the cardinal areas which the President Jonathan’s transformation agenda focused on. He spoke in Abakaliki, while inaugurating new hospital complex and

other projects constructed by the management of the Federal Teaching Hospital (FETHA), Abakaliki. He noted that under the National Strategic Health Development Plan, the Federal Government was involved in motivating existing local health manpower and encouraging Nigerian health experts based abroad to return home to ensure that Nigerians get easy access to quality health care, as

According to Anucha Chukwuemeka, the party gained wide acceptance across the 27 council areas of the state, but regretted that the people's wish to give their mandate to the party’s candidate was dashed with the omission of the party’s logo in the April 11 governorship election and April 25 rerun election by INEC. "In view of this, the party demands the immediate cancellation of Imo governorship election." well as halting the brain drain in the health sector. Nwankwo explained that in the past four years, Nigeria's health care system has witnessed remarkable improvement as government has invested heavily in strengthening human resources. In his remarks, the Chief Medical Director, Olisemeka Ezeonu, said that the new hospital complex is a 602-bed capacity tertiary health facility with retinue of over 4000 staff comprising over 200 consultants in various specialties.

News

Renewed cult war claims 12 in Edo Cajetan Mmuta BENIN

ension heightened in parts of Benin City, the Edo State capital, yesterday as no fewer than 12 persons were feared killed while several others sustain serious gunshot wounds at different locations in a renewed bloody cult clash involving rival members of secret groups. Members of Eye Confraternity, Black Axe and Mafite groups had intensified their supremacy battle around Second East Circular and New Lagos Road areas of the capital city with record high casualties in the last two weeks. Trouble was said to have started following a

WEDNESDAY,APRIL 29, 2015 NEW TELEGRAPH

SOUTH-SOUTH

hot verbal war over the death of a cult member during the April 11 state House of Assembly election at one of the polling centres in the metropolis, a development that sparked off reprisal attacks, which spread like wild fire to parts of the town. During yesterday’s fracas, a 27-year-old barber in the city was hacked down in his shop and was left in pool of his blood. The victim was gunned down at No. 13B, New Lagos Road by three armed men about 9.45am. An eyewitness, Mrs. Philomena Evbuomwan, 70, said the gunmen shot at the victim at close range in the head and chest while they waited for a moment to ensure he was dead before they zoomed

off even as bystanders took to their heels. Evbuomwan, who was awe stricken, said the gunmen had threatened her with a gun before shooting the victim. According to her, “I was selling wood when Patrick greeted me. I later sat with him. Suddenly, three boys walked towards us. One pointed a gun at my head and later dropped it. He shot Patrick; the other one also fired a shot. The third person took his gun and tapped Patrick. When he saw that he was dead, they ran away. After that, I fainted.” It was gathered that the clashes were sparked off by disagreement over the sharing formula of unspecified sum of money doled out to the groups

by politicians during and after the the polls. Another victim, identified as a member of the Buccaneer, was said to have left a popular strip tease bar opposite Air Force Barrack on Airport Road and was later traced by the rampaging groups and gunned down about 9.00pm on Sunday night. Operatives of the state command, at the time of filing this report, were on the trail of some of the fleeing suspects. The state Police Public Relations Officer (PPRO), Stephen Onwochei said: “For now, I don’t want to isolate cases or give out information that is untrue” and could not confirm the number of suspects so far arrested in connection with the incident.

Okowa inaugurates 98-member transition committee Dominic Adewole ASABA

he Delta State Governor-elect, Ifeanyi Okowa, yesterday inaugurated three committees comprising 98 members to midwife a smooth transition process on May 29. Okowa, who will take oath as the fourth executive governor of the state on that day, vowed to equitably distribute the wealth of the state by being fair to all the ethnic nationalities in the state. Speaking during the event at the Unity Hall, Government House, Asaba yesterday, Okowa said membership of the committee was not an

automatic ticket to be appointed as members of the state executive council. The committees include Technical Committee on Programme Development/Governance, Committee on Hand Over and the Committee on the Night of Praise. Their terms of reference include ensuring a seamless transition in the state and the implementation of the policies and programmes of the incoming administration after inauguration; advice on governance structure, size, relationship and best practices that will engender greater efficiency and outcome and examine the 2015 budget of the state.

LG poll: Tribunal voids PDP victory, declares rerun Dominic Adewole ASABA

he three-man tribunal set up to adjudicate on the outcome of council elections in Delta State yesterday voided the victory of the Peoples Democratic Party (PDP) in Ika NorthEast Local Government of the state. Ika North-East is the council area of the Governor-elect, Ifeanyi Okowa. The election was conducted by the state’s Independent Electoral Commission (DSIEC) on October 25, last year, across the 25 local government areas of the state.

The tribunal, presided over by Mr. M. C. Unuwovo, averred that the exercise was not only marred with irregularities, but has violated the provisions of the Electoral Act. Declaring the election that produced the councillor representing Ward 16 in the council area, Mr. Fidelix Osinne Okoh, null and void, the tribunal ordered a rerun election within 30 days. The candidate of the All Progressives Grand Alliance (APGA), Sunday November Nwadiegwu, a lawyer, had petitioned the tribunal shortly after Okoh was declared winner by DSIEC, alleging fraud.

PDP candidate faulted on allegation of inflation of poll’s results Cajetan Mmuta Rivers State APC Chairman, Mr. Davies Ibiamu; governorship candidate, Mr. Dakuku Peterside and Sen. Magnus Abe, at a news conference on the last general elections in the state …yesterday

Absence of judge stalls judgement in Igbinedion’s case Cajetan Mmuta Benin

he absence of the presiding judge in the N25 billion suit filed by the anti-graft agency, the Economic and Financial Crimes Commission (EFCC) at the Federal High Court sitting in Benin, the Edo State capital yesterday, stalled the judgement that was scheduled for

the day amid mounting anxiety and expectation by litigants in the case. The court had, on March 10 this year, reserved judgement till April 17, 2015, in the suit filed before it by the EFCC against the former governor of the state, Chief Lucky Igbinedion and others over fraud and money laundering allegations. Igbinedion, his young-

er brother, Michael, Patrick Eboigbodin and four companies are standing trial over 81-count charge bothering on alleged money laundering, misappropriation of funds, conspiracy and abuse of office in an amount equated to N25 billion belonging to Edo State. Justice J. Liman had earlier in his ruling for another adjournment at

the last date first apologised to the parties for the several adjournments trailing the case. He had attributed the adjournments to illhealth and the prolonged strike action by federal judiciary workers which ended in February. By the latest adjournment the court would have delayed ruling on the matter for the fourth time.

INEC accused of frustrating APC petition at tribunal Emmanuel Masha Port Harcourt

he Rivers State governorship candidate of the All Progressives Congress (APC) in the just-concluded election, Dr. Dakuku Peterside, has accused the Independent National Electoral Commission (INEC) of

frustrating his planned petition at the electoral tribunal in Abuja, by withholding the needed documents to secure him victory. Peterside, who made the allegation at a briefing in Port Harcourt, said the state’s Resident Electoral Commissioner, Gesila Khan, has refused to release 17 documents

the party requested for despite the Freedom of Information (FoI) act that mandates such documents to be released within seven days. The governorship candidate, who spoke in the company of the party Chairman, Dr. Davies Ikanya, Senator Magnus Abe and other party leaders, said the INEC

commissioner deliberately refused to release the documents, knowing that the petition was time-bound. He, however, said that she has only released a part of the results and ‘blatantly refused’ to release the list of INEC ad hoc staff, voters’ register, ward collation results, among others.

BENIN

he All Progressives Congress (APC) member representing Akoko Edo Federal Constituency in the House of Representatives, Mr. Peter Akpatason, yesterday picked holes in the allegation by the candidate of the Peoples Democratic Party (PDP), Mr. Bankole Balogun, that INEC announced the results handed over to them by him (Akpatason) and not the actual

results of the exercise from the polling units. Akpatason, who described the allegation as untrue and laughable, said the result announced by the umpire was a true reflection of what happened on the field. Bankole had alleged that Akpatason had inflated the result of Ward 9, where the lawmaker hails from and had coerced INEC officials to announce the result, which according to him was inflated in favour of the APC lawmaker.

PUBLIC NOTICE CHRIST INDEPENDENT FUNDAMENTAL BAPTIST CHURCH OF NIGERIA The general public is hereby notified that the above named organization has applied to the Corporate Affairs Commission, Abuja for Registration under Part “C” of the Companies and Allied Matters Act No.1 of 1990. THE TRUSTEES NAMES (1.) H.R.M. Oba Olusanya Adegboyega Dosunmu (2) Rev. Ajayi Ayodele David (3) Dr. Alabi Titus Oluwatoba (4) Evangelist Mrs. Ilesanmi Racheal Titilayo (5) Evangelist Olabiyi Timothy Olatunbosun (6) Mrs. Ajayi Olajumoke Emily (7) Dr. Adekola Adesile Ezekiel (8) Mr. Ajayi Ajibola Hopeful (9) Olori Abiodun Olatunbosun Dosunmu

-President - Vice-President - Secretary - Treasure -Member - Member - Member -Member - Member

AIMS & OBJECTIVES (1) To preach the gospel of our Lord Jesus Christ (2) To win souls for Christ (3) To liberate the world through aggresive prayer (4) To proclaim the second coming of Jesus Christ Any objection to this Registration should be forwarded to the Registrar-General. Corporate Affairs Commission, 420, Tigris Crescent,Off Aguyi Ironsi Street. PMB 198, Maitama, Abuja within 28 days from the date of publication. Signed: Trustees

NEW TELEGRAPH WEDNESDAY, april 29, 2015

News 49

NORTH

Again, Kebbi House impeaches speaker Abubakari Abdul Birnin Kebbi

arely four weeks to the May 29, 2015 handover date, the Kebbi State House of Assembly yesterday impeached its Speaker, Hon. Hassan Muhammad Shala, who was barely five months old in office. The Assembly had, last November, impeached the then Speaker, Hon. Habib

Musa Aminu Jega and his Deputy, Hon. Muhammad Garba Bena, alongside the Chief Whip and other principal officers of the House. Relying on its simple majority in the Assembly, the members who concocted the impeachment were members who defected to the APC after the last year episode, and virtually all of them won their seats as APC members. The APC won all the 24 Assembly seats in the

just-concluded election in the state. With this development, the former Speaker, Habibu Musa Aminu Jega, took over his seat again as Speaker while Muhammad Garba Bena, retained his seat as Deputy Speaker in an Assembly that have just one month to go. Reacting to the issue, the impeached speaker, Hassan Muhammed Shala, told newsmen during a briefing that the As-

sembly is on vacation and would reconvene on May 5, adding that his impeachment as carried out by the group is ridiculous, describing their act as ‘nothing, but rebellious.’ He said Musa Jega and his deputy, who were impeached last year, have ceased to be members of the House, because they defected to another party and their seats had been declared vacant. He also argued that

their sitting was illegal, going by the fact that the entire House was on recess till next month, where they got the mace with which they use is illegal as the authentic Assembly mace is in the custody of the Clerk to the House. The impeached speaker, however, urged the people to remain calm as nobody should take the law into their hands, promising that the whole imbroglio would be addressed soon.

L-R: Local Government Chairmen, Alhaji Al-Hassan Bagudu of Kaiama; Abdullateef Okandeji of Ilorin East; Kwara State Governor, Dr. Abdulfatah Ahmed; Alhaji Tajudeen Zulu Oloje of Ilorin West and Prince Waheed Olanipekun of Offa, during a congratulatory visit to the governor in Ilorin…yesterday

Collapsed Kano bridge not sub-standard, says contractor Muhammad Kabir Kano

he contractor handling the collapsed Kano pedestrian bridge that claimed the lives of seven people, Soject Nigeria Limited, yesterday debunked allegations that the project was sub-standard and that the company was owned by a close ally of the state governor. The Project Engineer, Miftahu Aliyu Hassan, told newsmen yesterday that the collapse was an accident and a mystery, and that only God can tell what actually happened. He debunked the allegation that the company’s laxity or the use of substandard materials was responsible for the collapse. Hassan assured the people that there was nothing that was done without following the required engineering standard and due process provided by engineering guidelines. In an interview with newsmen in Kano, Has-

san said: “We have all the machineries to handle such project. We built similar bridges in Ilorin, Niger State, the Federal Capital Territory, Abuja and in almost all the North Central states.” According to him, “All the necessary procedures from feasibility study, soil test and design were followed strictly as demanded by the profession.” He further maintained that “all the structures were put in place correctly, mixing of the concrete was done professionally, it is just a mystery,” he said. “There wasn't any structural failure. Such a thing has never happened to us before. Even all the engineers that were at the site could not ascertain the scientific reason behind this. Because we put all the necessary instruments in place,” he said. When asked about the allegation that the company has a link with some people in power, the contractor dismissed that as mere allegation meant to smear the image of the company.

Plateau gets ultimatum to pay salaries Musa Pam Jos

he Plateau State chapter of the Nigerian Labour Congress (NLC), yesterday gave the state government a seven-day ultimatum to pay workers’ outstanding salaries and address other pending issues or be made to face a drastic action from Labour. According to a statement made available to New Telegraph in Jos and signed by the Acting Secretary, Comrade Izang Francis Atsen, the NLC said workers will down tools at the expiration of the ultimatum with effect from Monday, May 4, 2015. The statement reads in part: “With reference to our letter No. NLC/TUC/ JNC/PLS/2015/004, I am directed to inform you that the council, having painstakingly reviewed the 14-day ultimatum issued on 15th January, 2015 for which government has been pleading for understanding, yet up to this moment, workers have not received their salaries.” The statement was also copied to the Plateau State Head of Service (HoS), the Commissioner of Police, the state Controller of Labour, Federal Ministry of Labour and Productivity and the Commandant, Special Tax Force, in the state, among others.

APC to probe Suswam’s administration Cephas Iorhemen Makurdi

he in-coming All Progressives Congress (APC) administration in Benue State has promised to vet all official documents handed over to it by the out-going Gabriel Suswam government after receiving handover notes on May 29 and carry out a major probe to unearth certain illegalities. Besides, the APC also yesterday disowned all

workers being discreetly recruited at the twilight of the out-going Suswam administration into ministries, parastatals and agencies of government as well as those being massively promoted, saying such workers are on their own. Governor-elect, Dr. Samuel Ortom, who disclosed this at a media briefing in Makurdi, requested Governor Suswam to stay action on the issue of the creation of 10 first class chiefs

for which he had expeditiously signed a bill into law, where six of the chiefs have been designated to be presented with the staff of office on the handover date. Ortom, who spoke through his deputy, Benson Abounu said: “Any responsible government will not necessarily seek to probe an outgoing administration, but let me tell you, the out-going administration will hand over documents to us on May 29 and we will study

them critically. Where there are problems, which we do not understand, an action will be taken to seek clearance for the good of the people of the state.” While viewing the recruitments and promotions as done in bad faith, Ortom said benefactors of such recruitments should be prepared to face dire consequences as they cannot be allowed to stand, and accused Suswam of plotting to thwart the handover process.

Plateau governor-elect urged to Lawmaker flays attack on prioritise security Kogi NUJ chairman Musa Pam Jos

he former Chairman, House Committee on Information in the Plateau State House of Assembly, Hon. Emmanuel Jugul, yesterday urged the Governor-elect, Simon Lalong, to consider the prevailing security challenges that has claimed several lives in Riyom and Barkin-Ladi Local Government areas

of the state as priority. Jugul made the call yesterday while addressing supporters of the All Progressives Congress (APC) in Riyom Local Government on the overwhelming victory secured by the party during the polls, saying the victory of Lalong was well-deserved. The former legislator expressed optimism that Lalong has the political will to unite the people of the state.

Muhammad Bashir Lokoja

s reactions pour in over the attack on the Chairman of the Nigeria Union of Journalists, Kogi State chapter, Ali Atabor, in the last rerun House of Assembly election in the state, the member representing Igalamela/Odolu constituency, Hon. Friday Sanni, has described the attack as shameless and irresponsible.

Atabor was, last weekend, waylaid by armed policemen led by some politicians in the area. The chairman, who was battered by policemen and other hoodlums believed to be supporters of the APC, was thrown into an open Hilux van and was taken round the town before he was subsequently detained at the Divisional Police Office in Ajaka, the headquarters of Igalamela/Odolu Local Government area.

WORLD | News

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Defiant Indonesia executes four Nigerians, four others

he executions took place in Besi prison on the island of Nusakambangan early yesterday morning local time, local media reports say. Among those executed were Australian nationals

Andrew Chan and Myuran Sukumaran. Australia had appealed to Indonesia to delay the executions, citing alleged flaws in how their case was prosecuted. Four Nigerians, a Brazilian, a Ghanaian and Indo-

nesian nationals were also among those believed to have been put to death. Earlier, the men’s families were allowed to see them for the last time. A Filipina woman was also due to be executed but was reportedly spared at the last minute.

Mary Jane Fiesta Veloso was spared after the person who allegedly recruited her to act as a drug courier surrendered to police, the Jakarta Post reports. Indonesia has some of the toughest drug laws in the world and ended a

four-year moratorium on executions in 2013. They were executed yesterday for drug offences despite several pleas from the Nigerian government, United Nations and Amnesty International.

Senegal starts missing migrants unit

enegal said yesterday it had set up a crisis unit to help the families of migrants shipwrecked in the Mediterranean to get information about their loved ones. The centre will provide a hotline to enable families to get in touch with authorities who are “working hard to give people reliable and credible information”, the government said. “Family of people assumed missing are asked to come forward with details of those who may be affected,” said a statement from the ministry for overseas citizens. Some 1,750 migrants have died crossing the Mediterranean to Europe this year, 30 times more than during the same period in 2014, and it is feared the death toll will mount further. Hundreds of migrants were killed earlier this month after their rickety boat sank between Libya and southern Italy, sparking global outrage and demands for action. Pressure

on southern European countries from migrants crossing from Africa has shown little sign of easing since the disaster, the worst ever recorded on the Mediterranean. Media in Dakar have for several days been reporting the deaths of Senegalese in capsized vessels on the Mediterranean. “Seventeen deaths for Goudiry” said a headline Monday in “Le Quotidien” over a story quoting a youth worker in the district at the Mali border. The area is the principal departure point for Senegalese trying to get to Europe who often travel from through Mali, Burkina Faso and Niger to catch boats in Libya. “I saw five compatriots including an 18-year-old starve in the (Niger) desert,” shipwreck survivor Lamine Diallo, 44, told the newspaper. The Senegalese have not given figures, but local media say hundreds of Senegalese have died on the treacherous crossing to southern Europe.

Nepal quake: PM expects death toll to hit 10,000

eople stranded in remote villages and towns across Nepal were still waiting for aid and relief to arrive yesterday, four days after a devastating earthquake destroyed buildings and roads and killed more than 4,300 people. The government has yet to assess the full scale of the damage wrought by Saturday’s 7.9 magnitude quake, unable to reach many mountainous areas despite aid supplies and personnel pouring in from around the world. Prime Minister Sushil Koirala told Reuters the death toll could reach 10,000, as information of damage from far-flung villages and towns has yet to come in. That would surpass the 8,500 who died in a 1934 earthquake, the last disaster on this scale to hit the Himalayan nation. “The government is doing all it can for rescue and relief on a war footing,” Koirala said. “It is a challenge and a very difficult hour for Nepal.” In Jharibar, a village in the hilly Gorkha district of Nepal close to the quake’s epicenter, Sunthalia dug for hours in the rubble of her collapsed home, Saturday to recover the bodies of two of her children, a 10-year-old daughter and eightyear-old son. In Barpak, further north, rescue helicopters were unable to find a place to land. Yesterday,

soldiers had started to make their way overland, first by bus, then by foot. Army helicopters also circled over Laprak, another village in the district best known as the home of Gurkha soldiers. A local health official estimated that 1,600 of the 1,700 houses there had been razed. Helicopters dropped food packets in the hope that survivors could gather them up. In Sindhupalchowk, about 3.5 hours by road northeast of Kathmandu, the earthquake was followed by landslides, killing 1,182 people and seriously injuring 376. A local official said he feared many more were trapped and more aid was needed. “There are hundreds of houses where our people have not been able to reach yet,” said Krishna Pokharel, the district administrator. “There is a shortage of fuel, the weather is bad and there is not enough help coming in from Kathmandu.” International aid has begun arriving in Nepal, but disbursement has been slow, partly because aftershocks have sporadically closed the airport. According to the home (interior) ministry, the confirmed death toll stands at 4,358, with more than 8,174 injured. The United Nations said 8 million people were affected by the quake and that 1.4 million people were in need of food.

A protest in Musaga on the outskirts of Bujumbura.

Burundi’s anti-president protests continue

unfire was heard and streets were barricaded in parts of the capital, Bujumbura, in the third day of protests, witnesses told the BBC. Police are blocking about students in the second city, Gitega, from joining the demonstrations, residents said. The protests are the biggest in Burundi since the civil war ended in 2005. The army and police have been deployed to quell the protests, which have been described by government officials as an insurrection. UN chief Ban Ki-moon said, in a statement, that he had despatched his special envoy for the region, Said Djinnit, to Burundi for talks with Mr Nkurunziza. The crisis is also due to be discussed later at a meeting of the African Union’s Peace and Security Council. BBC

Burundi analyst Prime Ndikumagenge says the phone lines of private radio stations have been cut, a decision apparently taken by the authorities to prevent news of protests from spreading. The ruling party’s VicePresident Joseph Ntakirutimana has compared one radio station to a former Rwandan broadcaster, accused of fuelling the 1994 genocide. The Red Cross says at least six people have been killed in the demonstrations since Sunday. More than 24,000 people have fled Burundi this month, as tensions mount ahead of presidential elections in June, the UN refugee agency said. This includes 5,000 who crossed into Rwanda at the weekend, it added. Burundi’s ex-President Pierre Buyoya, who was involved in the peace

process that ended more than a decade of ethnic conflict, has warned that Burundi could return to war if the crisis is not resolved. Burundi has a majority Hutu and a minority Tutsi population. The opposition says Mr Nkurunziza, a former rebel who took power after the civil war ended, should step down. They say his bid to extend his term is in defiance of the constitution, as it bars the president from running for a third term. However, Mr Nkurunziza’s allies say his first term does not count as he was appointed by parliament and not directly by the people. More than 300,000 people died in the civil war between the minority Tutsi-dominated army and mainly Hutu rebel groups, including Mr Nkurunziza’s CNDD-FDD.

Baltimore riots: Troops deployed as cleanup begins

week-long curfew has been announced. Schools and many businesses are closed. Monday, hundreds of people set fires, looted stores and confronted police across the city. City officials have been criticised for not responding more aggressively. US President Barack Obama said yesterday that the riots have unfairly overshadowed the peaceful protests about police use of force. “There is no excuse for the kind of violence we saw yesterday,” Mr. Obama said. “They are not protesters. They are not making a statement. They are stealing.” Volunteers and city work-

ers began cleaning up affected areas yesterday morning. Smoke still rose from buildings set alight the night before. Officials said about 200 people were arrested and more than 100 cars were set on fire on Monday. Fifteen buildings were destroyed. AfricanAmerican Freddie Gray, 25, died on 19 April after suffering injuries to his spinal cord and spending a week in a coma. The US justice department is investigating exactly where and when his spinal injuries were sustained. Officials have suspended six police officers who were involved in the case. Monday’s clashes began hours after Mr Gray’s funer-

al. Baltimore Mayor Stephanie Rawlings-Blake said it was very clear there was a difference between the “peaceful protests of those who seek justice” and the “thugs who want to incite violence”. National Guard commander Linda Singh said that up to 5,000 troops could be put on the streets. “We will be out in massive force,” she said, adding that armoured vehicles would be used, but the city would not be under martial law. Extra police officers are also being drafted in from the Mid-Atlantic region. Earlier, President Barack Obama said his administration would provide whatever assistance was needed.

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

News

International Sport

League Rendezvous Strikers begin highest scorer’s race

Mayweather vs Pacquiao: Frenzy reaches fever pitch

Falcons, not Flying Eagles to launch Nike kits

Man United, Chelsea, others to compete in USA tour

Sport

The big fight

Did you know? That at the age of 11, NBA superstar Pau Gasol heard of Magic Johnson’s 1991 announcement of being HIV-positive and decided he wanted to pursue medicine as a career.

NSC in financial crisis Adekunle Salami

he just concluded General Election is taking its toll on the National Sports Commission as the apex sports body is facing severe financial crisis which is affecting programmes of all sports federations. Our correspondent exclusively learnt that running the office is difficult for the chieftains of the sports ministry as the body is still suffering from post-election problems. An official of the ministry confirmed to our correspondent that the NSC is currently very broke and funding it difficult to take care of day-today running of the commission New Telegraph can reveal that the ping pongers campaigning for honours at the ongoing World Table Tennis Championship in China were not given money to travel for the competition. The Nigeria Table Tennis Federation made frantic efforts to get money for the global event but it was not possible. NTTF boss, Enitan Oshodi, it was learnt advised the top players to travel on their own to boost their international rankings.

• Spends NFF’s N22m subvention It was the same story in athletics. The junior athletes who travelled to Mauritius last week left Nigeria late because the NSC did not release money. It was the Athletic Federation President Solomon Ogba who bought tickets for the few who made the trip. Our correspondent however scooped that the situation be-

came so bad on Monday that the NSC chairman, Tammy Danagogo, had to order the release of money belonging to the Nigeria Football Federation for use. About N22m, part of the subvention for the football ruling body, was spent by the NSC on Monday due to the critical situation on the ground. Personal Assistant to the

NSC boss on Media, Mr. Patrick Omorodion, explained that the situation was due to the busy schedule of the finance ministry during the elections. He said: “Because of the elections, allocations were not released and we had no money to run programmes. We expected the federations to bring their requests early enough

but some brought proposals late and could not travel. “The proposal of the squash federation was approved and the body was asked to raise the money with the understanding that it will be rereimbursed when the allocation comes. The squash team travelled. Things will become normal very soon.”

Ajoke Odumosu (left) in the colours of Nigeria

The Sport Team Adekunle Salami

French Open: Federer fears ‘difficult to beat’ Nadal

Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Federer

witzerland’s 17 times Grand Slam winner Roger Federer on Monday said he still believed Rafael Nadal was the favourite to win the French Open next month despite the Spanish star’s troubled start to the clay court season. Federer, who took his sole French Open title in 2009, this week is refining his own clay court game at the Istanbul Open, the first ATP World Tour event to be held in Turkey and the first time that Federer has visited the country. But Nadal, who with the exception of Federer’s win has taken every French Open since

2005 to make nine in total, has shown a dip in form over the past weeks, failing to get past the third round at last week’s Barcelona Open. Federer said he believed that Nadal was still the man to beat on the red clay of Roland Garros, along with the in-form Serbian world number one Novak Djokovic. “At the French Open, Rafa for me is still the favourite alongside Djokovic who has been playing so well. “Even though his (Nadal’s) form is not as good as in previous years, I still believe when the French Open rolls around

he is going to be very difficult to beat,” he told a news conference in Istanbul. Federer, 33, is himself looking for his own form on the slower clay after a long hard court season, having lost in the third round to Gael Monfils at the Monte Carlo Masters this month. But he said the Istanbul event was ideal for his preparations. “It’s about getting used to the sliding, deciding how aggressive I want to play,” said the world number two. “I have been on hard courts for seven-eight months so it needs some adjustments.

Sport

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Falcons, not Flying Eagles to launch Nike kits

he Super Falcons will be given the honour of being the first Nigerian national team to use the new Nike kits in a competitive game when they lock horns with Mali in an Olympics qualifying match on May 9, in Abuja. Reports had suggested that the Flying Eagles would be the first Nigerian side to wear the jersey but the General Secretary of the Nigeria Football Federa-

tion, Mohammed Sanusi, said during his visit to the Falcons training centre in Abuja that the national women team would launch the jersey and urged them to do so in style by beating Mali with a heavy score line. “I urge you to be disciplined and desist from acts that will bring problem between Nike, our new kit sponsors and the federation. I must say here that one of the problems we had with Adidas was because

some players were not respecting the terms of the contract. I urge you to assist the NFF in every contract we enter into,” he was quoted on the NFF website. Sanusi also charged the team to go to World Cup in Canada and do the nation proud, noting that they had not done well at previous editions. He said that he expects Falcons to improve on their previous outings at the World Cup by going far in Canada,” he said.

Iheanacho proves fitness, scores in City’s loss

Iheanacho

anchester City starlet, Kelechi Iheanacho, proved he is back to full fitness as he scored in the FA Youth Cup final against Chelsea. However, City lost Monday’s second leg final 2-1 for Chelsea to clinch the Youth Cup 5-2 on aggregate having won the first clash 3-1. Iheanacho, 18, showed class when he gave City a great start with a fifth minute opening goal, but Chelsea fought back to win 2-1.

The MVP of the 2013 U-17 World Cup is now expected to be released by City to Nigeria’s Flying Eagles for next month’s FIFA U20 World Cup in New Zealand. The English club blocked Iheanacho from last month’s African Youth Championship in Senegal after they insisted he was still nursing an injury. However, they have said they will release him for the World Cup as soon as he comes through a game without any injury issues.

Federation Cup draw takes place Thursday

he official draw ceremony for this year’s men and women’s Federation Cup competitions will be held in Abuja on Thursday. The Nigeria Football Federation’s Head of Federation Cup unit, Ruth David, reminded the 36 and FCT Football Associations that the draw ceremony will commence at 1pm.

Already, all 64 teams for the men’s draw and 18 teams for the women’s have emerged, setting the stage for the event that will herald the national finals of the most prestigious football competition in the land. David has also disclosed that of the 64 teams in the men’s draw, 19 are Nigeria

Professional Football League sides while Warri Wolves are the only top flight side that missed the cut to God’s Time FC in the Delta State preliminaries, 14 are from the second tier Nigeria National League, 16 teams belong to the Nigeria Nationwide League and an impressive 15 are nonleague sides.

Desire-Oparanozie in action for Super Falcons

Olumudi arrives Nigeria for Okpekpe Charles Ogundiya

igeria’s long distance race rave of the moment, Aderonke Olumudi, arrived the country Sunday night from the United States to intensify preparations for the third edition of the annual Okpekpe 10km Road race. The Kogi-born athlete on arrival said she was determined to become the first Nigerian to win the race which had been dominated by the East Africans since inception. “I am happy to be back after more than a month in the US,” she told our correspondent. “The preparation starts now for me because I am not going to settle for anything less than the top prize. “I want to be the first Nigerian

Liverpool battle Tottenham, Fenerbahce for Moses Ajibade Olusesan

nglish giants, Liverpool and Tottenham, are leading the race to land Nigerian striker, Simon Moses, New Telegraph can confirm. Moses has attracted the attention of top sides in Europe following stellar performances for his Belgian side, Gent. The striker has scored seven goals in 11 matches since he joined the club in January, winning six manof-the-match gongs in his

first eight matches. He was initially linked with Tottenham and Turkish side, Fenerbahce, but reports have emerged that Brendan Rodgers is keenly interested in the former AS Trencin striker. Rodgers is on the lookout for strikers after being badly let down by his current crop this season and has identified the 19-year-old as a possible target. However, Gent are aware of the growing interest in their Nigerian import and will not allow him to go on a cheap.

Already, Gent technical director, Michael Louwagie, has insisted that any club willing to win their striker’s services must part with £14.3million and that amount may be the stumbling block. Liverpool’s recent transfer policy is buying young players with potential to be good players for the club with a sell on value, and Simon fits into that category, so it will be interesting to see if the Reds pursue their interest in the Nigerian starlet.

Abuja

T Okagbare

he Nigerian Relay team will this weekend hit Bahamas for the World Senior Relay Race for men and women. Secretary General of Athletic Federation of Nigeria, Olumide Bamiduro, said the athletes that include both foreign and

Bursaspor terminate Taiwo’s contract

Moses

Okagbare, others hit Bahamas for World Senior Relay Adeolu Johnson

to win the competition, that is why I am home early to intensify my preparation.” Speaking on what to expect against the East Africans who will be aiming to continue their dominance, Olumudi said she is not perturbed as she has confidence in her ability. She said: “I am not intimidated by the calibre of athletes that will be coming because I have so much belief in myself. “I competed against some of them in the US and still come out on top despite the little time I had to prepare. “I hope to travel to the venue of the race early to familiarise myself with the environment; with hard work and God on my side, I will win the race.”

home-based, would depart USA where they participated in the Rest of the World and USA last weekend for Bahamas on Tuesday. Bamiduro explained that the Nigerian athletes were featuring to improve their world rankings amongst the best. “We are expected to present our 4x400m men and women teams. Our World relay teams would be se-

lected from Nigeria and the US depending on athletes’ individual and collective performances.” The AFN scribe said these were part of the plans lined up by its President, Chief Solomon Ogba, to prepare the athletes ahead of the All Africa Games in Congo in September and the Olympic Games in Brazil next year.

igeria defender Taye Taiwo has quit Turkish club Bursaspor after both parties agreed to part ways. The Turkish club announced this on their website. “Nigerian defender Taye Taiwo and the club have mutually agreed and terminated the contract with our club,” the statement read on Bursaspor website. The 30-year-old defender signed a three-year deal with the Turkish club on July 5, 2013. He played 27 games with two goals for the club in 2013/2014 season and didn’t play any game for the club in the 2014/2015 season. He has played for Lobi, Gabros (Nigeria), Olympique Marseille (France), AC Milan (Italy), Queens Park Rangers (England) and Dynamo Kiev (Ukraine).

Taiwo

International Sport 53

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Man United, Chelsea, others to compete in USA tour M

Chelsea’s Didier Drogba, left, vies for the ball with Manchester United’s Ander Herrera during an English Premier League game

anchester United and Chelsea will travel to the United States this summer to compete in the pre-season International Champions Cup, where they will meet Paris Saint-Germain and Barcelona, the English clubs have announced. The Red Devils won the tournament last summer in the early weeks of Louis van Gaal’s tenure at the club, but they and Chelsea will face daunting opposition in Barcelona and Paris Saint-Germain this year. In a league format featuring 10 teams playing four games each, United will begin the cup on July 17 when they face Mexican side Club America in Seattle. A match against Major

League Soccer’s San Jose Earthquakes, for whom United legend George Best once turned out, follows on July 21 before Van Gaal’s men take on the most glamourous games of the tour. Barcelona will be their opponents at the Levi’s Stadium in Santa Clara, California on July 25 before PSG play them at Soldier Field in Chicago four days later. Chelsea will open their campaign against New York Red Bulls on July 22, taking on PSG on July 25 in Charlotte, North Carolina, and Barca three days later at Washington DC’s FedEx Field. Jose Mourinho’s men will then come home to Stamford Bridge to host Fiorentina in their final game of the cup on August 5.

English FA Cup set to be renamed Emirates Cup

he FA Cup, the oldest knockout football competition in the world, is set to be rebranded as the Emirates FA Cup in a new £30million sponsorship deal In a move that will upset traditionalists, the FA are understood to have secured a three-year contract with Emirates Airlines. The deal, due to be rubber-stamped by the FA board on Thursday, is believed to be worth at least £10million a year — but comes at a cost for

lovers of the 144-year-old competition. Renaming it the Emirates FA Cup is a lot closer to title sponsorship than the previous ‘in association with Budweiser’ agreement, which was worth £9m annually. But the FA, after a highly embarrassing season without any Cup backer that has put huge pressure on their commercial department, needed to offer more to attract a significant sponsor to the table. The Emirates deal, likely to be officially an-

Terry: Cahill is best defender

ohn Terry does not believe that he is the best English defender, insisting that Chelsea teammate Gary Cahill is better than he is. Both player were named in the PFA Team of the Year on Sunday and many argue that Terry remains the strongest centre-back in England. But the former England captain says that Cahill is the best defender available to national team coach Roy Hodgson, despite Jose Mourinho leaving him out of the Chelsea side at times this season. “Gary is a big character. He was obviously disappointed to be left out of the Chelsea side a few months ago but he has come back and taken his chance again,” Terry told reporters. “He has been different class and is England’s best centre-back. For me, he has been brilliant all season long. “The manager has taken him out and stuff but, for me, he has been playing at a very high level. In the big games, he has a lot of experience and he steps up to the plate.”

nounced nearer to the FA Cup final on May 30, is also well-timed for the FA’s commercial depart-

ment with the new chief executive Martin Glenn arriving at Wembley next month.

Arsenal won last season’s FA Cup competition, which will be rebranded the Emirates FA Cup

Mourinho

Mourinho backs Leicester to avoid the drop

helsea will take another big step towards the Premier League title if they win at relegation-threatened Leicester City on Wednesday but boss Jose Mourinho expects their opponents to stay up whatever the result. Leicester, who were bottom from the end of November until last week, have climbed out of the drop zone after winning their last four matches, and Mourinho said he was surprised they were ever there in the first place. “I was surprised with their bad position. For me they are a good team with good players. We played them very early in the season at Stamford Bridge and I could immediately feel the quality of the team. “I am not surprised they are out of the relegation zone. And I won’t be surprised when they stay in the division. I think they will survive.” Chelsea’s immediate targets are very different from Leicester’s with Mourinho’s Champions-elect team needing six points to guarantee winning the title while Leicester need as many as possible to avoid an immediate Championship return. At the bottom, seven clubs are separated by nine points but Leicester are the in-form team and stand a point above the relegation places occupied by Sunderland, Queens Park Rangers and Burnley, with a game in hand over the latter two teams.

ITTF confirms new members Inzaghi demands more from AC Milan players

ão Tomé and Príncipe and South Sudan have been confirmed as the 221st and 222nd members of the International Table Tennis Federation, to make the body the largest International Federation. The two African nations were accepted at Tuesday’s ITTF Annual General Meeting in Suzhou held during the ongoing World Championships in the Chinese city. São Tomé and Príncipe has competed at the last five Summer Olympic Games,

but has only managed to send athletes in the two sports of athletics and canoe sprint, while South Sudan is the world’s newest nation, having only gained independence from Sudan in 2011. The announcement is a major boost to South Sudan’s aim of being recognised by the International Olympic Committee (IOC), something which, insidethegames has been told, could happen later this year if the minimum recognition from five international federations is secured.

ilippo Inzaghi has accused his AC Milan team of a lack of commitment and has urged them to “play with heart” when they take on Genoa on Wednesday. The San Siro side suffered a 2-1 defeat to Udinese on Saturday to stretch their winless streak in Serie A to three games. Inzaghi’s team still have slight hopes of qualifying for the Europa League next season with six games left in the campaign and Inzaghi maintains

his side must be fully committed in their remaining matches. “We have to make up for a bad game against Udinese,” he told Milan Channel. “We have the opportunity to do so on Wednesday at San Siro. “Every player must give more, I’m angry because the team didn’t give everything against Udinese. As long as there’s hope, we’ll fight until the end. “We have to play with heart and with respect for the fans. We have to give a good response.”

Barcelona show class in Getafe rout

B Suarez

arcelona’s front three of Lionel Messi, Neymar Jnr and Luis Suarez passed 100 goals for the season as the Catalans remain on course to win the La Liga title after delivering a first-half masterclass against Getafe in a 6-0 rout at the Nou Camp. Messi gave the hosts the lead inside 10 minutes from the penalty spot after Luis Su-

arez was felled in the box, before Suarez doubled Barca’s lead with a brilliant volley after 25 minutes. Neymar effectively ended the contest three minutes later as Barca’s front three reached 100 goals for the season, before Xavi made it four for Luis Enrique’s side after just half-anhour with a superb curling effort from outside the box.

Suarez grabbed his second and Barca’s fifth of the night with a precise curling effort after Neymar’s lay-off to give Barca a 5-0 lead going into the break. And three minutes into the second half, Messi netted his 48th goal of an incredible season as Enrique’s side moved five points clear of rivals Real Madrid, who play Almeria on Wednesday night.

Sport

WEDNESDAY, APRIL 29, 2015 NEW TELEGRAPH

Nigerian League Rendezvous

with charles Ogundiya

charlesog2001@yahoo.com,

08098042287

Strikers begin highest scorer’s race

he battle to emerge the top scorer of the 2015 Nigeria Professional Football League has started with the usual suspects already leading the pack after Matchday Six. Last season’s top scorer and the NPFL record top goal scorer, Mfon Udoh, is already leading the race with four goals after six matches. Although it is too early in the season to tip a particular player for the top scorer’s award, but with the form of players like Udoh and Warri Wolves striker, Gbolahan Salami, fans

might experience another record-breaking season. Apart from Udoh, other players like Bright Ejike (Heartland), Victor Yakubu (Wikki Tourists), Esosa Igbinoba (Nasarawa United), Shuaibu Ibrahim (Giwa FC), Chisom Chikatara (Abia Warriors), Segun Alebiosu (Kwara United) and Ubong Ekpai (Kano Pillars), are all on three goals each. Udoh recently declared his readiness to score 30 goals to erase his last season’s record of 23 while Salami has said he is ready to improve on his goals tally from last term.

“In the 2012/2013 season, I scored 15 goals; last season, I scored 23, now I want to break that record and score up to 30 goals, Udoh said. Salami scored 16 goals for Wolves last season also despite missing some key matches due to national team assignments. Meanwhile, Kano Pillars striker, Moses Ekpai, has declared that he is out to break the goal record of 23 goals set by Enyimba striker Udoh last season. “I set a target of 26 goals for myself this season, I am certainly ready to beat Mfon Udoh’s record,” Ekpai boasted.

NPFL record top scorer, Mfon Udoh

Heartland aim to bounce back better

eartland of Owerri have promised to bounce back to winning ways in the league. Despite a bright start at the beginning of the season, winning three games on the trot while also scoring nine goals, the Owerri side has now failed to score in two consecutive matches.

The Naze Millionaires lost their first game of the season at home to Abia Warriors last week, they also failed to score in a 2-0 defeat against Warri Wolves on Monday. Speaking with New Telegraph on the telephone, the Media Officer of the team, Cajetan Nkwopara, said the team would bounce

back against Kano Pillars on Thursday in a rescheduled league game. “The only thing expected of the players is to get a win against Kano Pillars,” Nkwopara said. “I can assure you that the players are ready to get the victory against Kano Pillars.”

Salami focuses on winning

arri Wolves striker, Gbolahan Salami, has put his ill-fated move to Serbia’s Red Star Belgrade during the January transfer window behind him. He is now concentrating his efforts on winning laurels with Warri Wolves this season. The striker dumped the Serbian giants when he could no longer cope with the dire financial straits of the club and opted to return to his former club, Warri Wolves. Speaking with league Rendezvous, the Super Eagles striker said his target now would be to lead the Seasiders to win a trophy at the end of the season.

“I am back to help Warri wolves to a trophy this season,” the former Shooting Stars of Ibadan striker said. “I enjoyed my game while playing for Warri Wolves and it is important I repay the club for their trust in me by scoring goals to propel the club to a trophy. “All I am doing now is to concentrate on my game and not to think about what happened in the past or in the future, I am hopeful that the future will be good.” On whether he will be making a move during the next transfer window in June, the striker said he would rather not talk about that for now.

ITTF World Champs: Toriola, Quadri bow out

espite the exit of Segun Toriola and Aruna Quadri in the first round of the men’s singles at the ongoing ITTF World Championship, Funke Oshonaike has described the experience in China as the best by a Nigerian team in a world championship. Toriola in his usual style fought hard against Chinese’s Sheng-Sheng Huang recovering from 3-0 down to level up at 3-3 and finally surrendering the seventh game to bow out gallantly from the tournament. But the biggest shock for Nigeria was the early exit of ITTF Star Player, Aruna Quadri who was beaten 4-1

by India’s Soumyajit Ghosh in the first round of the men’s singles. Quadri could not even comprehend his defeat and blamed his loss against the Indian on ill-luck. Even as Oshonaike marked her birthday on Tuesday, she probably enjoyed herself in China despite losing 4-0 to world number 1, China’s Ning Ding. “I think I just had fun during the match but I am not too happy that I was drawn against Ning but it is indeed a rare privilege to play player of her status. I am fulfilled with my performance in China because I

made the first round for the first time since I have been

taking part in the world championship,” she said.

with Ajibade Olusesan 0706 537 7853

Wimbledon singles champions to receive $3m

Toriola

ITF Abuja Futures: Four Nigerians in doubles quarterfinal

our Nigerian players have qualified for the quarter-final stage of the doubles event at the on-going Tombim Abuja ITF Futures. The pair of Moses Michael and Thomas Otu, yesterday, defeated Joshua Chetty and David Forchap in two straight sets of 6-4, 7-5 to move into the round of 8 and they were joined by Henry Atseye and Clifford Enosoregbe later. Atseye partnered Kshitij Kamal from India to defeat Aaron Alcaraz Cortes and

Kokou Missodey from Spain and Togo respectively, 6-3, 3-6, 10-8 in a nervy encounter. Enosoregbe also played with Zimbabwe’s Tinotenda Chanakira to rout Stanilav Korshunov and Stefan Merunka from Russia and Croatia respectively 6-2, 6-1. Meanwhile, all seeded players in the men’s singles of the tournament have advanced to the second round. Number one seed, India’s Nedunchezhiyan Jeevan defeated Nigeria’s Umaru Balami

in two straight sets of 6-1, 6-2, Vorster Tucker from South Africa who is second seed proved a handful for David Forchap from Germany in a 6-1, 6-2 win. Number three seed, America’s Eric Quigley, beat Felix Hounkpei from Benin Republic 6-4, 7-6 (4) while number four seed, Matija Pecotic, from Croatia defeated South African, Joshua Chetty 6-3, 6-2. In other matches, another American, Evan Song who is number five seed whipped Refiloe Molaoa

from South Africa 6-2, 6-0 just as Crowley Keith-Patrick, another South African, won hard-fighting Nigerian, Ikechukwu Iloputa, in straight sets of 6-3, 6-2. In arguably the most surprising match of the day, Nigeria’s Christian Paul, proved that his nine-week training tour of Egypt was not a waste as he dispatched British player, Joe Cooper, 6-1, 6-3 to the admiration of the teeming Nigerian fans at the centre court.

rize money keeps going up at Wimbledon, with first-round losers as well as champions cashing in on record rewards. The All England Club announced Tuesday that prize money for this year’s grass-court Grand Slam will increase by 7 percent to reach a total of 26.75 million pounds ($40.60 million). The men’s and women’s singles champions will each receive 1.88 million pounds ($2.85 million). Organisers said the prize fund will be “the highest ever in professional tennis,” surpassing last year’s U.S. Open purse of $38.25 million. In the space of four years, Wimbledon’s purse has almost doubled in size from the 14.6 million pounds ($22.4 million) on offer in 2011. The increase has also filtered down to the early stages of the tournament. A first-round loser this year will receive 29,000 pounds ($44,500), a 7 percent increase from the 27,000 pounds offered last year.

Sport 55

THE BIG FIGHT

NEW TELEGRAPH WEDNESDAY, APRIL 29, 2015

Mayweather vs Pacquiao

Frenzy reaches fever pitch Father expects son to

knock out Pacquiao

loyd Mayweather Sr has warned Manny Pacquiao his son has trained harder for their Saturday showdown than any of his other fights. Mayweather Sr is convinced the MGM Grand bout will end in a stoppage victory and see Floyd Jr extend his unbeaten record to 48 fights. “I’m going to give you the honest truth. Floyd may be working a little bit harder than he normally would,” Mayweather Sr said. “It’s not a strategy, it’s not a plan, it’s nothing. He’s just a normal opponent who is going to get his ass whupped. “In a situation like this we take it serious. If I see somebody say he’s going to whup me, I’m going to take it serious. He is totally prepared and we’re going to make sure we run Pacquiao out of this town.” Asked how confident he was in a Mayweather win, Floyd Sr added: “100 per cent.” And pressed about a stoppage, he went a little further, saying only: “110 per cent.” Pacquiao appeared to be completely unfazed by the prediction as he arrived in Las Vegas ahead of schedule on Monday night - posing for pictures with his family, all smiles. Former IBF and WBA welterweight champion Paulie Malignaggi is also backing Mayweather, but expects Pacquiao to cause him problems. And he wonders if a knockout victory will prove possible for the undefeated Mayweather, such is the staying power of the Filipino great. “Mayweather is favourite and I agree with it, but this is certainly the closest odds you will ever get Floyd Mayweather at,” Malignaggi said. “Manny Pacquiao hasn’t been an underdog since the Oscar de la Hoya fight, and we saw what happened that night, so you can’t count either of these guys out.

“Manny has been very successful of late, and he has also come up short, but his resiliency makes him very difficult to knock out.”

Ali jabs back at Mayweather

oxing Legend, Muhammad Ali, has taken a swipe at Floyd Mayweather Jr after the undefeated American welterweight told the world that he’s a greater boxer than Ali and Sugar Ray Robinson. During an interview with ESPN, Mayweather tried to convince viewers he’s better than Ali because he’s fought opponents in different weight classes. He said: “[Ali] only fought in one weight class...No one can ever brainwash me to make me believe that Sugar Ray Robinson and Muhammad Ali were better than me. But one thing I will [say]: I’m going to take my hat off to those guys and respect those guys because those are the guys that paved the way for me.” Ali wasn’t going to stay quiet for long though as he took to Twitter to deliver a not-so-subtle jab at Mayweather about his claims. Ali posted: “Don’t you forget, I am the greatest!” Ali’s tweet was also directed at George Foreman, who was 40-0 when Ali defeated him in 1974 and told TMZ Sports that Mayweather is “pound-for-pound” better than either of the legendary heavyweights. Even at the age of 73, Ali isn’t going to let any fighter claim he’s a superior boxer.

Sugar expects surprises

oxing legend, Sugar Ray Leonard, expects this weekend’s fight between Floyd Mayweather Jr and Manny Pacquiao to be full of surprises but is leaning towards his fellow-American to emerge victorious. “Mayweather has a couple of ways to win the fight: as a counter-puncher, wait for Pacquiao to

May 3 3:00am

(Nigeria Time)

make mistakes and make him pay for those mistakes; or just box him, dance around, move and do what he does best. He’s a little bit more versatile than Pacquiao,” said Leonard. “As for Pacquiao, if he can bring back the Manny that fought Oscar De La Hoya, Miguel Cotto and all the other guys, we’re then talking about a very interesting, physical fight. He added: “I think there will be a couple of surprises for the fans, knockdowns – and I don’t think this will happen late. There could be dominance, mostly by Mayweather. “It will take both fighters a few rounds to figure each other out, to know when they have, after they’ve seen each other. When you’re in the ring, it’s totally different [from perceptions beforehand]. I knew [Tommy] Hearns had long arms and was fast but I didn’t know he was that fast. I knew he hit hard but I didn’t know he hit that hard until I was in there.” While Leonard admires and respects Pacquiao, it is with Mayweather he feels more affinity. He has history with the family, of course, having stopped Floyd’s father in the final minute of their non-title 10-rounder 37 years ago, and he detects the genetic similarities, the twitches and speed, the sharp eye for an opening, the allround caginess. “He reminds me so much of his father. But the difference is that Floyd Jr can punch, Senior didn’t have that much of a punch. I’m sure that it was all about bad hands [Floyd Sr hurt his right hand in the first round of that fight]. And even Floyd Jr has delicate hands – but he is able to get away with it, to find some way. “Without question I enjoy watching him because I appreciate artistry, I appreciate technique, strategy, tactics. No matter who it is, he breaks down his opponents, whether it’s body shots, the jab, countering, making the guy stop punching, mesmerised. The bigger the fight, the better he is, because he is used

to that stage. Myself and Muhammad Ali had that too.”

Roach sees Pacquiao winning all rounds

any boxing pundits have pegged Manny Pacquiao as the underdog against Floyd Mayweather for their May 2 mega-fight, but the Filipino boxer’s trainer, Freddie Roach, believes it should be the other way around. So confident is Roach in Pacquiao’s chances that he said he won’t be surprised if the “Pacman” either wins all rounds of the welterweight showdown or even knocks Mayweather out. “He won’t go mad for the knockout. It could come from Manny’s left,” Roach told the Daily Mail. “If not, I won’t be surprised if he wins every round, pitches a shutout. Either way, Floyd doesn’t have the power to hurt him.” Roach gave some insight to the game plan that he has put together, saying: “Floyd likes to flow around the outside of the ring. He prefers the ropes to the middle so he can wait, set traps, suck you in, and pick you off with his counters.” The trainer admitted that the “old Manny” was liable to have walked straight into Mayweather’s “very good, very straight right,” but this is not the case now. “He (Pacquiao) will close him down, catch him with two or three hard punches, but then move,” Roach said. “Floyd will throw back, all right, but Manny won’t be there.” Roach said Pacquiao willingly sat down and watched tape of Mayweather’s previous fights, and the Filipino boxer was receptive. “(I) showed him how the game plan can work. He liked it. He said, ‘I can do that, no problem’,” Roach said. “He saw how Floyd throws a lot less punches, maybe 35 a round against up to a hundred of his own. But that also persuades him (that) he can afford to be patient if necessary.”

On Marble

Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it. – Johann Wolfgang von Goethe

World Record

Sanctity of Truth

The Proserpina Dam (Merida, Spain) dates from the first or second century AD, and once fed the Roman aqueduct taking water to a nearby city. This ancient Roman gravity dam is still used by local farmers to irrigate crops.

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

WEDNESDAY, APRIL 29, 2015

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Cancer of ‘electoral belonging’

e must not allow the cancer of “railroading” or “belonging” to infest and affect our electoral process. This cancer of railroading and belonging thrives on profiling and demonization of those that do not belong or those that dare to think differently or who disagree with the popular opinion and “fad” in town. It is dangerous and we must not allow it to have a foothold in our electoral process.

I make this intervention based on two interrelated issues. The first relates to the uncommon example set by the former Governor of Ekiti State, Dr. Kayode Fayemi and the incumbent President of the Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan that those who genuinely lose election should graciously accept defeat and congratulate the winner of such elections. The second is whether lawyers especially senior lawyers, are angry that the spate of people accepting defeat and congratulating their opponents “will spoil their market”. I have decided to address these two issues based on the precedent that has been laid and to separate the good precedent from the bad precedent exemplified in the “cancer of belonging” and the profiling of those that insist on standing with the people, the law and the constitution. A friend of mine who I believe means well, saw me at the airport a few days after the gubernatorial elections and was “genuinely” worried that some of us may likely be redundant during a period that is traditionally a busy period with election petitions. He expressed concern that most of the Courts in Nigeria are not sitting on account of the industrial action by the Judiciary Staff Union of Nigeria and this has reduced the earning power of lawyers. He was also worried that some of the election petitions tribunals set up by the President of the Court of Appeal will soon fold up as some of them are yet to receive a single petition arising from the various elections conducted by the Independent National Electoral Commission on the 28th day of March and April 11, 2015. My friend pointed out that the Court of Appeal that sits as the Tribunal of first instance in election petitions will be without a petition this time. Whether the concern shown by my friend is genuine is beside the point. The truth is that some Nigerians share the same view. Some are happy that they will be saved the drama, the accusations and counter accusations of compromise of tribunal judges, tribunal officials and other persons with immediate or remote connection with election petitions and tribunals. Others are happy that their will expressed through their votes will not be tampered with and they will not have what they now call “court imposed” Governors. Others, including some politicians, believe that they will not be forced to add to the over bloated bank account of some lawyers. I also know some lawyers that are happy that emergency consortium of lawyers already formed and or about to be formed for the purposes of commandeering “fat briefs” will be disbanded or will have little to do. I agree that when someone is defeated in a free, fair and transparent election, that individual and that party must accept defeat. Accepting defeat when you are defeated is central to democratic growth. Part of the challenge of our electoral process is that some candidates and political parties do not have the word “defeat” in their political practice and whether the process of an

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Jonathan

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election is free, fair and transparent makes no meaning to them and this makes them fight to the last. But the truth of the matter is that candidates and their parties are elected to a four year tenure and for the President and Governors, subject to re-election for another four years. The implication of this is that these categories of elected officers must prepare and subject themselves to the sovereign power of the electorates in an election. If the voters agree, those in power are re-elected, if the voters think otherwise, they will elect a new set of people to pilot the affairs of the country. This is the contract of the Nigerian people with the political parties and those that seek their mandate. So, constitutionally it is not a big deal for someone defeated in a free and fair

election to congratulate his opponent and accept defeat. Nigerians are celebrating it because accepting defeat and congratulating a winner has never been part of our electoral praxis. Nobody loses an election and when someone loses, it must have been stolen from him and he fights tooth and nail to retrieve what in actual fact does not exist. My second proposition is that it is constitutionally and legally wrong to congratulate and celebrate someone that has stolen the mandate of the people just because one wants to “belong”. That will be the worst electoral heist against the power of the people to elect their leaders. After all, the Constitution of the Federal Republic of Nigeria (as amended) is emphatic on the fact that the Federal Republic of Nigeria shall not be governed, nor shall

any person or group of persons take control of the government of Nigeria or any part thereof, except in accordance with the provisions of the Constitution. And section 77(1) of the Constitution of the Federal Republic of Nigeria(as amended) provides that every Senatorial District or Federal Constituency shall return one member who shall be directly elected to the Senate or the House of Representatives in such a manner as may be prescribed by an Act of the National Assembly. Section 132 and 178 of the Constitution also makes similar provisions for the election of a President for the Federation and Governors for the various States of the Federation who are mandatorily required to submit themselves for election and for others to also aspire to the said offices every four years on a date appointed by the Independent National Electoral Commission. So, incumbent office holders know that their tenancy is temporary and pegged to a period of four years. They know that after four years they must go back to the people to beg for votes and one then wonders why they never prepare for the day after. Maybe, their refusal to prepare for the day after can be attributed to the fact that some of them believe that they can never lose an election based on the power of incumbency and the use of the paraphernalia of office for campaigns to the disadvantage of “outsiders”. My submission is; it is good practice to concede defeat in a free and fair election whether one is an incumbent or a candidate of an opposition political party. However, we shall be doing violence to the letter and spirit of the Constitution and the Electoral Act, 2010(as amended) to insist that a candidate holding a stolen mandate should be allowed to retain it just because a precedent has been laid that it is more honourable to concede defeat when someone is defeated. The precedent that can stand is that when elections are free, fair and transparent and or conform substantially to the law and the constitution, the losers of such election should concede defeat. However, candidates and their parties in an election have a constitutional and legal duty to challenge the results of an election if they strongly believe that the election falls below national, regional and international standards. This is because parties and their candidates must satisfy the provisions of the Constitution and satisfy the provisions of the Electoral Act, 2010(as amended) designed to regulate the conduct of Federal, State and Area Council elections and other related matters. This is the intendment of section 138(1) of the Electoral Act, 2010(as amended) which provides that an election may be questioned on any of the following grounds that is to say(a) That a person whose election is questioned was at the time of the election not qualified to contest the election; (b) That the election was invalid by reason of corrupt practices or non compliance with the provisions of the Act; (c) That the respondent was not duly elected by majority of lawful votes cast at the election; or (d) That the petitioner or its candidate was validly nominated but was unlawfully excluded from the election. I am sure that most legal practitioners are in agreement that our elections must be credible. I am sure that most of them will make more money in a stable political and economic environment. I am sure that some of the Judges and the litigants will be happy if the courts can concentrate on their everyday adjudicatory process. But we must not permit violence to our constitutional and legal order on the altar of “belonging” and being seen to be politically correct even where everything is wrong.

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