Wednesday, january 28, 2015 binder1 by Newtelegraphonline

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Wednesday, January 28, 2015

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Vol. 1 No. 343

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N150

immigration service nets N9.2bn from e-passport }6}x

CBN to stop forex sales for local goods' imports

lRules out naira floatation lEmefiele appeals to foreign banks Ayodele Aminu and Godson Ikoro

he Central Bank of Nigeria (CBN) is step-

ping up efforts to protect further depreciation of the naira through speculative demand as it contemplates stopping the sale of foreign

exchange to importers of goods such as rice that are already being manufactured in the country. It has also assured

stakeholders and the market not to panic over the developments at the foreign exchange market, adding that it will not al-

low the naira, which has lost over 16 per cent of its value between June last year and this month, to CONTINUED ON PAGE 6

17 days to go... Nigeria votes

2015

ria Nige

s vote

2015

}14 & 15

On Feb 14 we stand lParties reject proposal to shift poll }5

lJega promises credible electoral process

L-R: Minister of Interior, Mr. Abba Moro; Comptroller-General, Nigeria Immigration Service, Mr. David Parradang and Permanent Secretary, Ministry of Interior, Mr. Abubakar Magaji, during the inauguration of the security office at the E-Passport office in Abujaâ&#x20AC;Śyesterday.

Travel Advisory Your guide to local and international flights 4

Buhari: I'm not bothered about certificate litigation

Quick Read

Editorial

Petrol price goes down at last }19

Afenifere adopts as lFresh criminal suit against ex-head of state Jonathan presidential lAPC alleges new plot to postpone elections }5 candidate }6

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Travel Advisory

WEDNESDAY, JANUARY 28, 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 -

VIRGIN ATLANTIC

Lagos-London London-Lagos

VS 652 VS 651

11:00hrs 22:40hrs

17:00hrs 4:40hrs

Lagos- Abu Dhabi

Abu Dhabi-Lagos

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

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

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

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

ETIHAD AIRWAYS

EGYPT AIR

KENYA AIRWAYS

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

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

Lagos-Nairobi Nairobi-Lagos

KQ 533 KQ 534

12:30hrs 18:00hrs

19:35hrs 23:45hrs

12:30hrs

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

BA075 BA074 BA 082 BA 083

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

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

Lebanon-Lagos Lagos-Lebanon

MEA 571 MEA 572

3:00hrs 14:00hrs

8:00hrs 19:00hrs

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

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

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

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

EMIRATES AIRLINES

QATAR AIRWAYS DELTA AIRLINES

UNITED AIRLINES

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

ETHIOPIAN AIRLINES

IBERIA

air maroc

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

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

ASKY AIRLINES

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

10:10hrs

10:50hrs

19:20hrs

21.50hrs

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

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

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

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

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

Local FLIGHT SCHEDULE ARIK AIR LAGOS-ABUJA (MON-FRI) 07:00; 08:00; 09:00; 11:00 13:00; 15:00; 17:00; 19:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 11:00; 13:00; 15:00; 17:00; 19:00 ABUJA-LAGOS (MON-FRI) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00; 20:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 09:00; 13:00; 15:00; 17:00; 19:00 LAGOS-PORT-HARCOURT (MON-FRI)07:00; 09:30; 11:00; 13:30; 15:00; 17:30 (SAT) 07:00; 11:00; 15:00 (SUN) 09:30; 11:00; 13:30; 15:00; 17:30 PORT-HARCOURT-LAGOS (MON-FRI) 07:30; 09:00; 11:30; 13:00; 15:30; 17:00 (SAT) 07:30; 11:30; 09:00; 13:00; 17:00 (SUN) 11:30; 13:00; 15:30; 17:00 ABUJA-PORT-HARCOURT (MON-FRI) 06:45; 10:10; 13:30; 16:50 (SAT/SUN) 06:45; 10:10; 13:30 PORT-HARCOURT-ABUJA (MON-FRI) 08:30; 11:50; 15:10; 18:30 (SAT/SUN) 08:30; 11:50; 15:10 AZMAN FLIGHT SCHEDULE WEEKLY SCHEDULE Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 12:40pm Lagos-Abuja/Kano 4:00pm Abuja-Kano 5:45pm Kaduna-Lagos 8:00am Lagos-Kan 10:10am Kano-Abuja/Lagos 12:40pm Abuja-Lagos 1:00pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm WEEKEND SCHEDULE SATURDAY Kano-Lagos 8:00am Lagos-Abuja 10:30am Abuja-Lagos 1:00pm Lagos-Kano 4:00pm Kaduna-Lagos 8:00am Lagos-Kano 4:00pm Sunday Kano-Lagos 8:00am Lagos-Kano 10:30am Kano-Abuja/Lagos 1:20pm Abuja-Lagos 2:40pm Lagos-Kaduna 5:00pm FIRST NATION AIRWAYS LAGOS-ABUJA (MON-FRI) 06.50; 09:30; 11:45; 16:00 (SAT) 06:50; 11:45 (SUN) 11:45; 16:00 ABUJA-LAGOS (MON-FRI) 09:00; 11:30; 13:40;18:30 (SAT) 09:00; 13:40 (SUN) 13:40; 18:30 LAGOS-PORT-HARCOURT (MON-FRI) 14:45

(SAT) 16:15 (SUN) 14:45 PORT-HARCOURT-LAGOS (MON-FRI) 16:50 (SAT) 18:20 (SUN) 16:50 AEROCONTRACTORS LAGOS-ABUJA (MON-FRI) 06:50; 13:30; 16:30; 19:45 (SAT/SUN) 12:30; 16:45 ABUJA-LAGOS (MON-FRI) 07:30; 13:00; 19:00 (SAT) 12:30 (SUN) 15:30

MEDVIEW AIRLINES LAGOS-ABUJA (MON-FRI) 07:00; 08:50; 12:00; 15:30 (SAT) 10:00; 15:00 (SUN) 17:30; 18:30 ABUJA-LAGOS (MON-FRI) 09:00; 14:00, 15:00; 18:30 OVERLAND AIRWAYS LAGOS-ILORIN (MON-FRI) 07:15 LAGOS-IBADAN (MON-FRI) 7:00

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

News

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

On February 14 we stand, say parties Onyekachi Eze ABUJA

igeria's 26 registered political parties yesterday rejected any attempt to postpone next month's general elections and demanded assurances from the Independent National Electoral Commission (INEC) that the elections will hold as scheduled. The parties, at a meeting in Abuja with INEC, Prof. Attahiru Jega, warned that they were not ready to accept any excuse for the postponement of the polls. Their position came against the backdrop of the call by the National Security Adviser (NSA), Col Sambo Dasuki (rtd) that INEC should postpone the election to allow for more time for voters to collect their Permanent Voters' Cards (PVCs). Dasuki's call elicited outrage from stakeholders, including the United States, as they insisted on the inviolability of the election timeline. Chairman of Inter Party Committee (IPAC), Dr. Yunusa Tanko, who stated the position of the parties, also called on the Federal Government to declare a three-day public holiday for collection of PVCs. He said this would enable registered voters to collect their PVCs. Tanko also condemned the level of violence being witnessed in the ongoing campaign, warning that IPAC will not hesitate to sue any political party that violates the non-violence accord. "IPAC condemned, in strong terms, the level of violence and lack of accommodation being shown by some political parties to campaigns that have been going on", he said. According to him, every political party has the right to campaign in any part of the country without fear of intimidation. He said IPAC had also set up a monitoring committee to monitor the ongoing campaigns. A representative of the main opposition All Progressives Congress (APC), Dr. Hakeem Baba-Ahmed, also warned that no one should interfere with the date for the conduct of the elections. "First of all, we want INEC to make a statement, a very clear statement that the dates, (February) 14th and 28th are sacrosanct. No one should interfere with the conduct of the election on 14th and 28th of February.

"We want INEC to double its efforts to make sure that all voters get their PVCs before the elections. We want INEC to improve on voter education, but we will play our role. And I hope other parties will also do the same thing," Baba-Ahmed said. He, however, said INEC was committed to conducting the elections as scheduled, observing that though there were challenges, "we want to partner with them, in resolving some of these challenges". Baba-Ahmed said the elections were not INEC's problem alone, and advised that the commission should involve the parties in the distribution of permanent voter's cards (PVCs). "We will continue to work with them, we want them to be open. We would want them to take us into

confidence so that we know some of the limitations they have so that our party can help", he said. He said elections could still go on with the figures of PVCs so far distributed, adding, "our position is that PVCs should be the only mode of identification and we don't want to consider any options at this stage because any other option will severely compromise the integrity of the process." Jega, however, reiterated the commission's determination to ensure that next month's general elections are better than 2011 polls. "I want to use this opportunity to assure all of you that as we promised Nigerians, we are working assiduously to ensure that we prepare adequately and that we conduct elections that are free, fair and credible and peaceful

in 2015. "I want to also assure you that we are committed to ensuring that the elections we will conduct will be remarkably much better that those we conducted in 2011. We believe that even though there may be challenges, such as the distribution of the PVCs, we feel confident that with the measures and mechanism that we have put in place, these challenges are ones we can overcome and we shall overcome them well in advance of the conduct of the 2015 general elections", Jega stated. He appealed to stakeholders to support the commission in addressing the challenges while urging Nigerians to be patient with INEC in the distribution PVCs. Meanwhile, the Nigeria Labour Congress (NLC) has commended the

United States Secretary of State, Mr. John Kerry, on his insistence for peaceful elections in Nigeria. A report yesterday by the News Agency of Nigeria (NAN) quoted NLC Head of Media, Mr. Benson Upah, as saying that Kerry's visit at this campaign time was a welcome development. He described the advice from the US as laudable. “It is a strong signal to those who care to know that the US is watching Nigeria and that the entire world is also watching us. “The advice is also suggestive of the fact that everyone has a duty to behave well. Nigerians and the international community will hold anyone who causes trouble accountable,” he stated. Upah said the international community expected Nigeria, being the giant of Africa, to ensure

that the processes leading to the conduct of the elections were transparent and credible. According to him, the move by the US to deny perpetrators of violence visa is a right step in the right direction. “Often times, when this violence is out of control, the big boys move to safer places like the US. "So, what Kerry is saying is clear; that you cannot create avoidable problems and take refuge in his country. “Anyone who goes out of his way to indulge in violence, sponsor it or does anything to aid it, is committing a crime against the society and the person should be sanctioned. “Electoral violence has become a regular feature in the Nigerian elections and this is not good for the development of democracy,” he added.

L-R: Chairman, Zenith Bank Plc, Mr. Jim Ovia; President, Dangote Group, Alhaji Aliko Dangote and Central Bank Governor (CBN), Mr. Godwin Emefiele, at a meeting with stakeholders in Lagos …yesterday

Buhari: I'm not bothered about certificate suit Johnchuks Onuanyim and Tunde Oyesina

ABUJA

ll Progressives Congress (APC) presidential candidate, Major General Muhammadu Buhari, yesterday said he was not bothered by the suits challenging his eligibility for the February 14 presidential election. Buhari told members of Peoples Democratic Movement (PDM) who came to officially adopt him as the party's presidential candidate that that should be expected in Nigeria. He spoke on a day a group of activists filed a criminal suit against him

for allegedly giving false information of his secondary school certificate. A lawyer, Mr. Chukwunweike Okafor, had on Monday filed a suit at the Federal High Court, Abuja, seeking the disqualification of Buhari from contesting the February 14 poll. Yesterday's suit by Shield Jones Ufot, Jimmy David, Ogueri Enwerem and Tochukwu Okorie, filed on their behalf by their counsel, Ugochukwu Ezekiel, at the Abuja Magistrates' Court, brought to two suits seeking to stop Buhari from participating in the presidential election. Responding to questions on how he feels about

the legal challenge to his eligibility, Buhari said he was not surprised because that should be expected in Nigeria. He however stated that those challenging his eligibility should have heeded the Independent National Electoral Commission (INEC) on the issue. He, however, said the people in court had no case as he had run for the presidency three times in the past. "Well, l am not surprised. This is Nigeria. If the people are serious about this election, they should listen to INEC. This is the fourth time l am running for this election. "We said whoever was dissatisfied should go to

court and they are now in court, let them remain there," he said. He also thanked the PDM for adopting him as its presidential candidate. Earlier, PDM National Chairman, Mr. Alaba Yusuf, said they came to present the resolution of the National Executive Committee of the party to support Buhari to him. "The NEC of our party, at its meeting of January 22, 2015, noted that the party has no presidential candidate for the presidential election of February 14. It considered and accepted the need to support a candidate in order to save Nigeria from imminent collapse and give it a new lease of life. It also noted

that the party has registered close to six million members, both manually and online, and resolve to deploy this voting strength for the best interest of Nigeria at this critical time. "NEC observed that of the available presidential candidates, two clearly stand out and the two represent clear contrast and reference point for making informed choices on the five critical issues which NEC believes constitute the nation's clear and urgent priorities at this material time. These are national unity, public security, job creation, fight against corruption and the economy. "On these critical isCONTINUED ON PAGE 8

News

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Afenifere adopts Jonathan as presidential candidate

lCalls for shift in election date lPresident's adoption will strengthen Nigeria's unity, says Obi Babatope Okeowo Akure

he pan Yoruba socio-political group, Afenifere, yesterday adopted President Goodluck Jonathan as its presidential candidate in the February 14 election. After a meeting with President Jonathan, who was on courtesy visit to the leader of the group, Pa Reuben Fasoranti, in Akure, the Ondo State capital yesterday, said since the president convoked the National Conference, the group was sure the report of the conference would be implemented. Briefing reporters after the meeting, Governor Olusegun Mimiko, who the President directed to speak on his behalf, said that the Afenifere has adopted the Peoples Democratic Party (PDP) candidate for the election. According to him, the transformation agenda of the president is not a fluke and that the group would ensure his re-election in all the South-West states. Meanwhile, the group

supported the call for the postponement of the February general elections in order to allow prospective voters to collect their Permanent Voters' Cards (PVCs). In a communique issued after its meeting in Akure, Afenifere said any election conducted without most of the voters collecting their cards would not be credible. Also, the group ruled out their support for the All Progressives Congress (APC) as a result of the party's boycott of the 2014 National Conference which, the group said, was meant to liberate the people of the South-West geo-political zone. In the communique read by its Publicity Secretary, Mr. Yinka Odumakin, the group said the chairman of the Independent National Electoral Commission (INEC), Prof.

Attahiru Jega, has not demonstrated his desire to conduct free and fair elections. At a meeting attended by leaders of the group ,including Chief Fasoranti, Olu Falae, Ayo Adebanjo, Governor Olusegun Mimiko, Senator Iyiola Omisoore, Kole Omololu and Seinde Arogbofa, among others, the group said postponement of the elections would still meet the May 29 handover date. His words: "The constitution says election should hold not earlier than 150 days to handover date and not later than 30 days. For us May 29 is sacrosanct, there is no controversy over this. "Within those days between February 14 and 30 days to May 29, INEC has a window to make sure that most voters are not disenfranchised. If INEC is able to give all registered vot-

ers their PVC before February 14, all well and good. "We viewed with seriousness the share incompetence on the part of INEC, the INEC that wanted to create 30, 000 polling units few weeks to the election has yet to distribute almost 30 million voter's cards. "As at today, over 15 million voters out of the one collected have not received their cards. This is 54 million. There are 14 million voters’ cards that are yet to arrive the country. If we put them together it is almost half of the total electorate that are yet to collect their voters' cards. "The assurance by the INEC chairman that he will distribute cards a day to the election is not reassuring. If you have failed to do it before now, what is the assurance that he is going to do it now?

"We want to warn that any election conducted on the basis of disenfranchising almost half of the electorate, the outcome will not be credible or acceptable." On the reason the group would not support the APC, Odumakin said: "The 2014 National Conference has become a campaign issue. Anybody that did not participate in it or does not believe in it does not love our people. "They want to drag them into slavery. With the report of 2014 confab, we believe we have crossed Jordan, we are yet to get to the Promised Land but we should not be sent to Egypt. "As far as Afenifere is concerned, the presidential election is to decide between two options: freedom or slavery. We have elected to choose freedom, freedom from bond-

age, internal enslavement and internal colonialism that holds most Nigerians down under the bastion of domination and we are convinced that the 2014 national conference report has laid the basis for the proper restructuring of the country." Reacting to Jonathan's endorsement by Afenifere, former Governor of Anambra State and Deputy Director General (South) of the Peoples Democratic Party (PDP) Presidential Campaign Council , Mr. Peter Obi, applauded the president's adoption by the group. Obi, who was in the president’s team in Akure, said: “I am not surprise at the endorsement because Afenifere has always committed itself to the best interest and unity of Nigeria. All well-meaning Nigerians will endorse President Jonathan.”

TODAY’S WEATHER FORECAST LAGOS

32o C 25oC Thunder Storms

ABUJA

37oC

22oC

Partially Cloudy

PORT HARCOURT

27oC

18oC

Storms

KANO

32oC

12oC

Partially Cloudy

ENUGU

37oC

24oC

Partially Cloudy

IBADAN

37oC

24oC

Partially Cloudy

CALABAR

21oC

18oC

Storms

MAIDUGURI

ONITSHA

21oC 12oC Rain Showers

21oC

12oC

Rain Showers

L-R: Ambassador Ibrahim Maisule; former Attorney General of the Federation, Alhaji Abdulahi Ibrahim; Senior Special Assistant to the Lagos State Governor, Akingbolahan Adeniran and former Chief Justice of Nigeria, Justice Muhammad Uwais, at the public presentation of Uwais book, titled ’Enduring Contributions to Nigeria’s Constitutional Democracy’ in Abuja…yesterday. PHOTO: ELIJAH OLALUYI

Emefiele appeals to foreign banks CONTINUED FROM PAGE 1

float freely because it that could lead to "major" depreciation of the currency. CBN Governor, Mr. Godwin Emefiele, who addressed a stakeholders’ meeting comprising industrialists, bankers, media executives, stockbrokers, discount houses and Bureau De Change (BDC) operators in Lagos yesterday, said the only thing that would reduce pressure on the naira was by producing goods being imported. “We are not going to ban the importation of rice, but we are going to say we would no longer provide foreign exchange if you

want to import rice into this country. If you want to use you dollars that you got from somewhere else to import rice, no problem! But with the way we are going, we would not allocate foreign exchange for you to import rice. The same way we would graduate it to other products. "The only thing that can help us eliminate the demand pressure on our domestic currency is that we are going to begin the production of those we import locally. That is the way to go,” he stated. While assuring the stakeholders that the apex will try as much as possible not to hurt busi-

nesses with its policies, he stressed the need for them to “work together with the CBN.” Nigeria is struggling to deal with a decline in crude prices that have fallen by more than 60 per cent since last June - the lowest in six years. As a result of the oil price volatility, the CBN devalued the naira in November and raised the benchmark interest rate to a record 13 per cent. The apex bank that month also banned the use of dollars purchased at its twice-weekly auctions for the importation of items such as electronics, telecommunication equipment and generators.

Allaying the fears of importers, Emefiele said: “The CBN will meet legitimate demand but we will not be concerned about illegitimate demand." He said if the CBN allowed the naira to trade more freely then “it will lead to a major depreciation” as Nigeria is not yet an export-driven economy. "We cannot allow the price (of the dollar) to just sky rocket simply in the name of demand and supply; that's why what we do ... is run a managed float where there's a particular limit (at which) we intervene to keep price of foreign exchange within a moderated level," Emefiele

said. He added that a weaker currency would affect the purchasing power and economy of Nigeria. He said the CBN would continue to see how best to moderate naira pressures, noting that Nigeria imports almost everything it consumes - even "toothpicks, fish and rice" - which ruled out allowing the naira to float. The governor told the meeting that the central bank had intensified its vigilance in the forex market in order to curb speculation and also to determine when to intervene. He said: "Let me say that CONTINUED ON PAGE 9

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

News

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

APC raises fresh alarm over moves to scuttle elections Johnchuks Onuanyim and Temitope Ogunbanke

he All Progressives Congress (APC) yesterday raised fresh alarm of moves by some people to use the courts to postpone or scuttle next month's general elections. The party called on the judiciary to protect the nation's democracy and on Nigerians to repudiate the desperadoes and their allies who are behind the plot. The party stated this in a statement issued in Lagos by its National Pub-

licity Secretary, Alhaji Lai Mohammed, stating that after all the efforts to stop the APC presidential candidate, Major General Muhammadu Buhari, failed, the anarchists have moved on to the next chapter, which is to use the courts to stop the elections at all cost. APC had, on Monday, said that it was fully ready for legal battles. The party made the reaction in response to the suit filed by a lawyer seeking for the disqualification of its presidential candidate, Buhari. Mohammed, however, in his statement said: "The

case instituted at a Federal High Court in Abuja on Monday, seeking a declaration that Gen. Buhari lacks the requisite qualification to contest the February 14 presidential election is the first in a series of court cases to be instituted so that the elections will not hold. “We are not surprised at this, because these desperadoes are so predictable. They are following the footsteps of the infamous Association for Better Nigeria (ABN) which helped to annul the 1993 elections and which threw Nigeria into a crisis from which

it has yet to fully recover, over 20 years later. “We can only appeal to the judiciary not to become a willing tool in the hands of those who will stop at nothing to scuttle the elections, just to perpetuate their firm grip on power.” The party said the basis for the litigation and other antics is that “President Goodluck Jonathan is very much aware that if the elections go ahead as scheduled, he will lose to Gen. Buhari by a landslide,” adding that the president and his allies are terrified of meeting the APC at the polls.

“A presidential aide, Doyin Okupe, has revealed that President Jonathan will rather have the military take over than hand over to the APC candidate. Though Okupe has made a tepid denial, the revelation has exposed the thinking and the desperation within the presidency, ahead of the elections. “We are also aware that up till this moment, the president has yet to repudiate the ex-militants in the Niger Delta who have threatened the country's very existence if he is not re-elected, as if elections are won by fiat. When this

L-R: Executive Director, North and Corporate Banking, Sterling Bank Plc, Mr. Kayode Lawal; winners, Sterling Bank Gunners Promo, Mr. Tajudeen Oseni and Mr. Segun Oghe John and the bank's Executive Director, Finance & Strategy, Mr. Abubakar Suleiman, at the media presentation of winners of the promo, in Lagos…yesterday. PHOTO: SULEIMAN HUSAINI

is added to ongoing moves to depopulate the NorthEast, which is an opposition stronghold, using scare tactics, one can see that this presidency and the Peoples Democratic Party (PDP) are as terrified and desperate as they can be,” it said. APC also warned those who are manipulating some elements among judiciary workers, either to proceed on strike so that the courts will not be able to sit on cases that can affect their candidates or to end the strike so they can seek to use the courts to achieve their objectives of truncating the elections, to desist from such acts. “In particular, we will like to remind the Attorney General of the Federation and Minister of Justice, Mohammed Bello Adoke, to advise his principal and his aides not to abuse the courts or use it as a tool to truncate democracy. They must be careful not to throw the country into chaos for selfish reasons,” the party said. It reiterated its earlier stand that the general elections must hold as scheduled on February 14 and 28, and that under no circumstance will Nigerians accept the postponement of the polls or the establishment of an Interim Government. “Next month's general elections must hold and winners must be declared. Nothing short of this will be acceptable to us as a party,” APC said.

I'm not bothered, says ex-head of state NIS rakes N9.2bn from e-passport CONTINUED FROM PAGE 5

sues, it is the opinion of NEC that the incumbent president who has been at the helm of affairs of the nation for the last six years has failed. In contrast, General Buhari has a track record of achievements in these areas as a former head of state and later Executive Chairman of PTF. "NEC believe that it is time for Nigeria to give a gentleman General the chance. In view of the foregoing, the NEC of PDM unanimously resolved to support your candidature for president of Nigeria," he added. While Buhari was giving assurances that he was not perturbed by the legal challenge to his presidential ambition, four activists filed a criminal suit against his for allegedly giving false evidence. The complainants said they brought a direct criminal complaint pursuant to Section 143(5) and 152 of the Criminal Procedure Code.

The complainants cited Buhari as the only defendant in the suit. The complainants alleged that Buhari gave false evidence to a public officer contrary to Section 157 of the Penal Code and punishable under Section 158 of the Penal Code Law. They said as Nigerian citizens, activists and social crusaders committed to ensuring obedience to the laws of Nigeria, they have a duty to report crime and ensure prosecution of offenders. In their particular of offence, the complainants said Buhari on December 18, 2014 filled and submitted form C.F 001 to INEC (a public office) wherein he gave his qualification as West African School Certificate (WASC), which he claimed to have obtained in 1961. They further submitted that Buhari with intent to mislead a public officer as to compliance with the provisions of Section 31 of the Electoral Act, 2010, deposed to various affidavits

in the High Court of the Federal Capital Territory, Abuja wherein he stated that he attended Katsina Provincial Secondary School, Katsina State and obtained a West African School Certificate and the certificates he claimed to have obtained are with the Nigerian Army. They also submitted that Buhari never sat for the West African Examination Council Examination in 1961 as he claimed and that in the entire records of the school and West African Examination Council, there appeared no name of the said Mohammadu Buhari. They further contended that the actions of the accused constitute offences of giving false evidence to a public officer contrary to Section 157 of the Penal Code Law and punishable under Section 158 of the Penal Code Law. On his part, Okafor who filed a suit on Monday seeking the disqualification of Buhari from the presidential race, said

did so on the grounds that there was no evidence that Buhari possess the academic qualifications he claimed. In a 23-paragraph affidavit he deposed to, Okafor averred that he is a citizen of Nigeria by birth from Njikoka Local Government Area of Anambra State and also qualified to vote in February. He wants the court to hold that the information contained in Buhari's Form C.F 001 stating that his educational qualification in the West African School Leaving Certificate (WASC) was false and thereby he should be disqualified from contesting in the 2015 general elections. He also wants the court to declare that the information contained in Buhari's affidavit dated November 24th, 2014 stating that the Secretary, Military Board was in the custody of his WASC was false and thereby entitles him to be disqualified from contesting in 2015 general election.

Johnchuks Onuanyim Abuja

he management of the Nigeria Immigration Service (NIS) yesterday revealed that the sum of N9.2 billion was generated locally last year as revenue accruing from e-passport. Also, $15.3 million was generate from the immigration desks at the Nigerian missions abroad. The Comptroller General of the Service, Mr. David Parradang, stated this at the inauguration of the Data Centre and Customer Queuing System built at the headquarters of the Service. Speaking on the projects, the CG said: "We know the vision we want to push and we want to provide for Nigerians World Class Migration management system; we want to key into the transformation agenda and provide for Nigerians what is new and not the

usual things that are being done before. "So, these are part of the initiatives that we have been putting in place and I feel fulfilled today for that purpose." For the efficiency of the Customer Queuing System, he said: "It is a very, very proper device that you see anywhere in the world. It is being operated in Nigerian banks already. So, it is not rocket science. It is something that can be sustained." The Minister of Interior, Comrade Abba Moro said the ministry had consistently provided the enabling environment for the NIS and its technical partners to undertake and implement several reforms, especially with regards to border patrol and passport administration as well as internal monitoring/control mechanisms to enhance efficient and effective service delivery to Nigerians and foreigners alike.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

News

NATIONAL

Alleged explosion rocks Ohanaeze secretariat Uwakwe Abugu ENUGU

he leadership crisis rocking the Ohanaeze Ndigbo, the apex Igbo socio- cultural organisation took another dimension at the weekend as unknown persons were said to have bombed the Akanu Ibiam Conference

Centre at its national secretariat, using suspected Improvised Explosive Devise (IED). A visit to the alleged bombed conference centre yesterday indicated that there was a shattered conference table and a blown ceiling. Two staff of the secretariat who would not have their names in print explained that the attackers

escaped the scene at the sight of some staff of the secretariat. Also at the facility was a debris from the heavy impact of the suspected IED used in the attack, some iron rods that broke off the device, a burnt rug covering the elevated platform on which the wrecked and burnt conference table was seated. One of the staff said:

"This thing happened on Saturday night at about 9p.m.,I heard a loud noise and I ran out after which I saw smoke at the hall. When we got to the place, we saw one boy jumped through the window and he climbed the fence.” According to him, after the escape of the suspect, they called in the police who embarked on rescue operations and eventual-

ly removed an iron bucket in which the suspected IED was built. Findings later revealed that the incident has been largely concealed by the embattled leadership of Ohanaeze which has been fighting to retain power in the face of its removal by the Elders' Council which has set up a caretaker committee, insisting that the tenure of the Chief Gary EnwoIgariwey-led executive expired last month. Confirming the incident, the Police Public Relations Officer (PPRO) of the Enugu State Police Command, Mr. Ebere Amaraizu, said the attack was launched against the

Ohanaeze National Secretariat, Park Avenue, GRA in Enugu but that the attempt was foiled by security personnel. “We were told that some persons came there late in the night on Monday or thereabout to commit arson, but they were stopped. But our findings at the secretariat yesterday indicated that the attack happened last Saturday night,” he said. Meanwhile, the Ohanaeze Youth Wing yesterday gave President Goodluck Jonathan seven days ultimatum to address some critical issues affecting Ndigbo or lose the support of the group in the February 14 polls.

Federal courts in Lagos still under locks Akeem Nafiu

B L-R: Author of the book, Mr. Eddy Odivwri; wife of the author, Mrs. Florence Odivwri; Delta State Governor, Dr. Emmanuel Uduaghan; book reviewer/President, Nigeria Guild of Editors, Mr. Femi Adesina; Publisher/CEO, Posterity Media, Mr. Femi Kolawole and former Ekiti State Governor, Otunba Adenyi Adebayo, during the public presentation of a book entitled: ‘Pains of a Country’ in Lagos...yesterday. PHOTO: GODWIN IREKHE

Total completes $900m pipeline, FG, BoI, others sued over sale advances Alaoji plant’s gas inflow of 109 housing units Deola Yusuf

rench oil giant, Total yesterday announced the completion of a major section of its $900 million Northern Option Pipeline (NOPL) for onward gas inflow from the company’s Oil Mining Lease (OML) 58 to the 964 Mega watts (MW) National Integrated Power Plant (NIPP) at Alaoji along the Imo River in Abia State. Managing Director of Total Exploration and Production (E&P) Nigeria Limited, Elisabeth Proust, who said this in a statement, maintained that the section, which is from kilometer 38 (at Obigbo) to Kilometer 50

(at Imo River), was completed on Monday, January 12, 2015. “This milestone will help bring to reality, the Federal Government’s aspiration of improved electric power supply in Nigeria and demonstrates Total’s commitment to meeting its promises to deliver Better Energy,” she said. The NOPL is a 24 inch wide, 50 kilometer-long pipeline under construction by Total E&P Nigeria Ltd on behalf of the NNPC/TEPNG Joint Venture. When completed later this year, the project will deliver 100 million cubic feet of gas per day to this strategic power plant.

INEC, NURTW sign MoU on election Onyekachi Eze ABUJA

he Independent National Electoral Commission (INEC) and the National Union Of Road Transport Workers (NURTW) yesterday, signed a Memorandum of Understanding (MoU) on election logistics The MoU, according to Chairman of INEC, Professor Attahiru Jega, was to enable the commission address some problems

associated with election logistics, especially the recurrent delay experienced in transportation electoral officers and election materials on election days. Jega added that the aim was to ensure that election materials and electoral officers get to the polling units on time. "I believe that this will also help us to solve most of the challenges associated with electoral processes,’’ Jega said.

Akeem Nafiu

or allegedly planning to dispose about 109 housing units in Transit Village, Victoria Island, Lagos, the Federal Government has been taken to court by about 800 residents of the estate, who were prepared to challenge the decision. The residents, who are in the employment of the Federal Government, are asking Justice Ibrahim Buba, of a Federal High Court, sitting in Lagos, to halt the alleged plan of the government.

The residents, suing for themselves and on behalf of others are Mrs. Chinwe Abara, Mr. Leonard Agbobama, Mallam Ibrahim Abdul, Mr. Samuel Obi, Alhaji Haliru Gandu and Cliford Atakere, asked the court to stop government from the alleged plan. Those sued include the Minister of Environment, Housing and Urban Development; the Chairman, Implementation Committee on Alienation of Federal Government Landed Properties and the Attorney-General of the Federation and Minister for Justice.

Kaduna is broke, says el-Rufai Ibraheem Musa KADUNA

he All Progressives Congress (APC) gubernatorial candidate in Kaduna State, Mallam Nasiru el-Rufai, has suggested that his administration will inherit a weak economy if voted into power on February 28 this year. The former Minister of the Federal Capital Territory (FCT), who made this known yesterday in an interactive session with gubernatorial

candidates in the state, said the state is broke and highly indebted. The interactive session was put together by the Organised Private Sector (OPS). el-Rufai said going by the current economic status of the country, which is now affecting allocation from the federation account as a result of the drop in crude oil sales, there was the tendency that about 30 states, including Kaduna State, may not be able to pay workers’ salaries, he revealed.

arely 72 hours after the Judiciary Staff Union of Nigeria (JUSUN) suspended its three-week-old industrial action; judiciary activities remained non-existent at the federal courts in Lagos yesterday. Members of the association were not at their duty posts as expected even though some judges, who had arrived the courtrooms could not work, following the absence of their support staff. JUSUN leadership had on Sunday directed its members to resume in all federal courts, following assurances from the Federal Government that their grievances would be looked into. It will be recalled that members of the union had been on strike since January 2, to press home their demands for financial autonomy for the judiciary. The union had closed down all courts following the refusal of the government to comply with a court judgement that or-

dered financial autonomy for the judiciary. JUSUN on January 25, after a meeting at the Supreme Court, however, decided to suspend the industrial action. The affected courts are the Federal High Court, the Court of Appeal, the Supreme Court and the National Industrial Court. At the Federal High Court in Lagos yesterday, some of the court registrars were seen at their various duty posts, waiting for court sittings while others were seen cleaning and dusting court files. The Deputy Chief Registrar of the Federal High Court, Mr. Bello Okandeji, in a chat with newsmen, confirmed the resumption of activities at the court, but said that only skeletal works were ongoing. Some of the judges were present in court, but had to take their leave after waiting for a while. Meanwhile, the Court of Appeal, Lagos Division, was devoid of activities, as the gates were still under lock and key, and no staff was in sight.

PUBLIC NOTICE CHRIST FOR THE DEFENCE OF HUMAN & COMMUNITY RIGHTS DEVELOPMENT INITIATIVE The general public is hereby notified that the above mentioned The general public is hereby informed that the above named non-governmental organization (NGO) has applied to the Corporate Affairs Commission Abuja for the registration under PART ‘C’ of the Companies and Allied Matters ACT 2004. The Trustees are: 1. Comrade Prophet Oladele Olaniyi Johnson 2. Pastor Adetoye Johnson Oluwaseun 3. Mrs. Ademulegun Anne Nkiruka

— President — Secretary — Treasurer

AIMS AND OBJECTIVES: 1. To give financial empowerment to widows/woman and orphanages children. 2. To fight for the rights of the human being. 3. To promote & sensitized people to participate in the development of the communities. 4. To send human rights activist/missionaries to overseas for training. 5. To assist youths in their academic careers and to mobilize them for the growth of the nation. 6. To checkmate corruptions in the country within government offices/private companies. 7. To monitor and observe domestic and international elections. 8. To preach and evangelized the word of God and to win souls for Christ. 9. To save the life of accident victims. 10. To establish private nursery and primary school to train less privileged children.. Any objections to this registration should be forward to the Registrar General Corporate Affairs Commission, Plot 420, Tigris Crescent, Off Aguyi Ironsi Street, P.M.B 194, Maitama, Abuja within twenty eight (28) days of this publication. Signed: Signed : COMRADE/PROPHET OLADELE JOHNSON OLANIYI OMONIYI 27B, ADEKOYA STREET, OFF PROPHET OLADELE BUS STOP, AIT RAYPOWER ROAD, ILAPO, ALAGBADO, LAGOS, NIGERIA.

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Metro

Gunmen attack police station, kill three

Taiwo Jimoh

unmen on Monday night attacked Owutu Police Station in Ikorodu, Lagos State and killed two policemen and a civilian. The armed men also injured several people, raided the station’s armoury and freed detainees. The bandits were said to have struck about 11pm. The gunmen were said to have crept on the station, opened fire on policemen on duty. They also stole four AK47 rifles. Stray bullets killed a commercial motorcycle rider sleeping on a chair close to the station. It was gathered that those who sustained injuries were rushed to the Ikorodu General Hospital for medical attention. The remains of the slain police officers had also been deposited at the mortuary. A police source said that trouble started after officials of the Nigeria Security and Civil Defence Corps (NSCDC) got a tip-off that some men,

believed to be oil pipeline vandals were operating at AbuleTapa, a suburb of Ikorodu. The NSCDC men raced to the village and arrested one of the suspected oil thieves. “When the officials of the NSCDC stormed the village, they got one of the vandals. When his colleagues got wind of his arrest, they reinforced and attempted to rescue him. “But before the vandals could get to Owutu Road, the NSCDC men had gone with the arrested suspect. This apparently angered the vandals who had been chasing the officials with three motorcycles. They attacked Owutu Police Station because they wanted to vent their anger. The two policemen killed were relaxing outside the station,” the source said. The policeman added that the gunmen surrounded the station and started shooting sporadically. The source said: “They shot people indiscriminately. They gained access into the station cell and freed some of their colleagues and other inmates

The attacked police station

who had been in detention.” A Hausa leader in the area identified the dead motorcycle rider as Iliyasu Abubakar, an indigene of Katsina State. He was married and had children. When our correspondent visited the area yesterday, the

police station was locked. A team of policemen from Rapid Response Squad (RRS) and Armoured Personal Carrier (APC) were stationed opposite the police station. The state Police Public Relations Officer (PPRO), Mr Kenneth

Nwosu, confirmed the incident. He said: “We lost two of our police officers. The gunmen carted away two of our guns. There is an ongoing investigation into the attack. Those who sustained injuries are receiving treatment at Ikorodu General Hospital.”

My friends’ lifestyles drew me to robbery –Barber Shola Adefuwa

robbery suspect, Jolly Abienekpen, has told operatives of the Special Anti-Robbery Squad (SARS), Ikeja, Lagos that he decided to join a robbery gang because he was enchanted by the way its members spend money. Abienekpen, a barber and father of one, said that although he was making between N1,000 and N1,500 daily as a barber, he could not have survived on it. According to him, he was ensnared by the lifestyles of his friends, who spend money lavishly. He said: “Peer pressure and negative influences of my friends were part of the things that made me join robbery. I was enticed because of the

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

way my friends spend money - that was the main reason I joined them. “I also wanted to raise money to establish my own barber shop. If I had about N30,000, I would have been able to establish my business.” The police said that Abienekpen was a member of a gang of robbers terrorising theatre goers at the Orile Iganmu area of Lagos. The police explained that Abienekpen and his accomplice, Olalekan Olumide, were seen at Iganmu, Orile, dispossessing theatre goers of their valuables at gunpoint. Police had chased them. While Abienekpen was arrested, Olumide escaped. Olumide’s freedom was, however, short-lived, because he was arrested a few days later. The police recovered a locally-made gun from the gang. “The gun that was recovered from me during the operation was given to me by a man called Bassey. He had just been released from prison,” Abienekpen said. A police source said: “On sighting the officers, Abienekpen immediately threw away his gun. The gun and four live cartridges were recovered from him. He was later transferred to SARS for further investigation.” Abienekpen disclosed that the gang had robbed some theatre

goers that fateful night before police appeared at the scene. He said: “We were actually about to rob the third person that night when police came. “As a barber, I used to make between N1,000 to N1,500 daily. Out of that money, I would deliver between N500 to N700 to the shop owner, depending on the day’s patronage. I was not making much, but I could have continued to manage. I was introduced to robbery by my friend, Shitta. “Shitta introduced me to Oyo and Aluma who are members of the gang. Usually four of us go for robbery operations. I met Shitta at an Indian hemp joint where I usually go to smoke. I started discussing with them and they introduced me to their gang’s operations.” Even after joining the gang, Abienekpen was still running the barber shop. But, according to him, he embraced robbery fully after the barber shop was demolished at NPA quarters on Victoria Island. He said: “During the operations, I used to stand outside the building, while others will go inside to carry out the operation. We make use of two guns which usually held by Oyo and Aluma.” Olumide, who left prison last July, said that he met Abienekpen at Iddo, Oyigbo,

Abienekpen (left) and Olumide

where both of them used to be cart pushers before they graduated to robbery. He said: “I have only participated in one robbery operation. I took part because I needed money to take care of some pressing issues.” “Earlier I was sentenced and locked up in Maximum Prison, Kiri-Kiri for vandalism of government’s property. I stole cop-

per wire from Apongbon and sold it for N70,000. I used the money to rent a house.” The state Police Public Relations Officer (PPRO), Kenneth Nwosu, confirmed the arrest of the suspects. He said they were apprehended by policemen attached to Iponri Police Station who were on patrol duty along the National Theatre axis.

Metro 11

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Wounded robber arrested after shootout Dominic Adewole ASABA

File picture of scene of Boko Haram attack

Boko Haram kills scores in Adamawa communities Ibrahim Abdul Yola

ampaging Boko Haram members have continued to unleash terror on border communities in Adamawa State such as Michika and Madagali. The residents and security sources said that several people were killed yesterday in at least seven villages. A fleeing resident of Michika, Mr Emmanuel Kwache, said in a telephone interview that over 30 people were killed by Boko Haram members. “As I am talking to you now, the insurgents are there in Michika town. They did not spare anything or anyone; they slaughtered people like rams. They burnt our houses after stealing foodstuff. “No presence of troops, some residents are on hilltops, while those that could not run were abducted, especially youths and women.” Another fleeing resident of Garta said his house and those of several others were razed

by the rampaging insurgents. He said: “They burnt my house, including the mosque and looted foodstuff. They killed at least 12 people. “Government must come to our rescue, by deploying more troops.” Confirming the attack, the lawmaker representing Michika in the state House of Assembly, Mr Adamu Kamale, said he was yet to get the exact casualty figure. He said: “The fleeing residents told me that for now over 40 people were killed; slaughtered like goats. “It is very sad. We reported the matter to the concerned authorities but nothing has been done about it. The insurgents are moving freely in the area. We are calling on government to deploy more troops.” Kamale listed Ghumci, Liddle, Garta, Shahu and Mbororo among the affected communities in Michika Local Government. “Several other people, we are yet to ascertain the exact number, were abducted,” he added. Reports also indicate that the rampaging Boko Haram mem-

bers have also unleashed terror on Madagali area. They killed many people and looted property. A displaced resident, who identified himself as AbdurRahman Madagali, said that the terrorists killed several people and abducted many at Gulak and Madagali towns. “They also burnt our houses,’’ he added. At press time, security sources said Nigerian troops, assisted by local hunters, were engaged in a fierce battle against the insurgents. Also confirming the attacks, the Secretary of the local hunters, Mr James Philip, said that for almost a week Boko Haram members had been on the rampage in communities around Michika and Madagali. But he said that the Nigerian troops and local hunters were on the top of the situation. He said: “The troops also killed several insurgents. These boys operate as cells and don’t stay in Michika. They come from their hideout to attack whenever they want to. They usually come in their dozens to attack.”

85-year-old man beheaded in Edo Cajetan Mmuta BENIN

here was confusion in Benin, the Edo State capital, yesterday as an octogenarian, Arougba community leader in Oredo Local Government Area was beheaded by unknown men. The headless body of the 85-year-old Pa Goodluck Uwumahongie was found where it was dumped. Some of the residents expressed the belief that Uwumahongie was murdered because of a protracted land dispute in the area. Meanwhile, operatives of the Homicide Unit of the state police command are working to unravel the mystery behind

the killing. The state Police Public Relations Officer (PPRO), DSP Joseph Edogiawerie, confirmed the incident. He, however, said that the assailants had shot the octogenarian many times before they cut off his head. According to him, the killers also took Uwumahongie’s head away. Edogiawerie said two suspects had been arrested in connection with the incident. He said the police were on the trail of the killers. It was gathered that Uwumahongie had premonition of what would happen and fled to Irhirhi village. The land tussle in the com-

munity had led to the burning of several houses. Three persons were said to have been killed in the wake of the communal crisis. The widow of the octogenarian, Mrs Julie Uwumahongie, 55, said she received the news of the gruesome murder about 5:30am yesterday. She added that her husband’s death was connected with the land dispute. She said: “One Osamwonyi has earlier threatened to kill my husband before the crisis. After we ran away from the village during the crisis to seek refuge at my father’s village at Irhirhi, Osamwonyi saw him here and said he would still kill him.

uspected armed robbers yesterday engaged policemen attached to the Delta State Police Command in a gun battle on Benin-Asaba Expressway. At the end of the encounter a member of the gang, identified as Junior Ocheonye, was arrested. The 20-year-old suspect was shot and arrested by men of the Dragon Patrol Team 03 while others escaped into the bush. The state Police Public Relations Officer (PPRO), DSP Celestina Kalu, who spoke on the incident at the command headquarters in Asaba yesterday, said the gang was operating at the popular JOC Filling Station at Umunede in Ika South Local Government Area of the state before the police swooped on them. She said: “The hoodlums, on sighting our men, opened fire on them. In the ensuing gun duel, one of the criminals identified as Junior Ocheonye ‘m’, 20 years, was shot and arrested while others escaped into the bush.” Kalu listed the items recovered from them to include one

Kalu

locally-made double barrelledpistol with a live cartridge, one Tecno D5 Android phone without battery, one Nokia Navigator Symbian phone, a bag containing two wallets with $1, N1,000 note suspected to be fake. The PPRO also said a patrol team attached to ‘A’ Division, Warri, stumbled on a cult group. She said: “While on township patrol on Okpe Street off Iyara Road in Warri, the patrol team ran into a group of suspected cult members. “On sighting the policemen, the suspected cult members took to their heels and abandoned one black bag containing one locally-made pistol gun, two daggers, mask and torchlight and escaped to an unknown destination.”

Mob beats suspected gay Flora Onwudiwe

61-year-old suspected gay, identified simply as Salisu, escaped death by a whiskers in Apapa area of Lagos State, when an angry mob descended on him. The man was said to have offered a 13-year-old boy N500 near Anjorin market about 6pm on Sunday. He allegedly started to rub the boy’s private part when two men saw him. A witness, Olubode Durosimi, said the man had wanted to lure the boy into the act but luck ran out on him. He said: “The gay was rub-

bing the boy’s private part beside Anjorin market when two men saw him and raised the alarm. Other men around joined and gave the gay the beating of his life. “The man said it was the devil that pushed him into such act. He claimed that was the first time he would attempt such act. The boy said he offered him N500 and begged him not to talk because he would like it. “Some people came and pleaded on his behalf and he was allowed to go. People wanted to hand him over to the police but later withdrew because the man was injured and had lost a lot of blood.”

Madam Adesanya for burial M

adam Cecilia Bolaji Adesanya, a devout Christian, is dead. She died at 87 on December 19, 2014. The rites of passage, according to the Adesanya family, begin today with a Christian Wake at her residence, 49, Bajulaiye Road, Shomolu, Lagos. This will be followed with another Christian Wake tomorrow at the YCC Hall, St. Dominic’s Catholic Church, Herbert Macaulay Street, Yaba, Lagos. One of the children, who is the Rector of the Federal Polytechnic, Ado-Ekiti, Dr Taiwo Theresa Akande, said a Mass of the Resurrection would hold at St. Dominic’s Catholic Church, Yaba after a lying-in-state at the residence of the deceased. According to the statement, the remains of Madam Ad-

The late Adesanya

esanya will be committed to mother earth on Friday at the Atan Cemetery, Yaba, Lagos. The statement added that a thanksgiving service will hold in honour of Madam Adesanya, who is survived by many children, grand-children and in-laws on February 1 at the same church.

News

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

SOUTH-WEST

INEC laments high void votes at elections Kunle Olayeni Abeokuta

he Independent National Electoral Commission (INEC) yesterday expressed concerns over the high rate of void votes in some of the elections conducted by the electoral body. The commission’s Head of Voters’ Education and Publicity in Ogun State, Leo Nkedife, who spoke at a meeting

with women groups in Abeokuta, disclosed that a total of 48,000 votes were voided in the state during the 2011 general elections. Nkedife lamented that the incidence of void votes was alarming and giving setback to electoral process. The INEC chief said it was imperative for the commission to further embark on serious enlightenment to guard against the recurrence of void votes in the Feb-

The sex ratio of men to 100 women in the 60+ age group in Honduras in 2012. Source: Un.org

ruary elections. He spoke in the presence of the Administrative Secretary of the commission, Dickson Atiba, and the Head, Gender Desk Officer, Mrs. Adeola Osikomaiya. According to Nkedife, many voters still had their votes voided in previous polls despite the sensitization and enlightenment campaign carried out by the commission. He noted that the numerical strength of

N4.34m

The total capital importation value of the Agriculture sector in 2010. Source: National Bureau of Statistics

women was crucial to the forthcoming elections, adding that the electoral body had engaged them to further enlighten the grassroots people. He said: “In 2011, 48,000 votes were voided in the state. These people have not only wasted their time and their votes, they also wasted the time of our officials and our resources. “This is why we are educating you now so that you can go back and educate

The position of malaria as a leading cause of death from infectious diseases in Africa. Source: Nigeria.usembassy.gov

the women in rural areas in order to reduce the high number of void votes in February elections.” In his address, the state Resident Electoral Commissioner, Chief Timothy Ibitoye, said the forum was organised in line with the gender policy of the commission. The REC, who was represented by Atiba, noted that active women participation in politics and electoral process was key to national development.

£46,456

The daily salary of Robin Van Persie of Manchester Unuted. Source: Paywizard.co.uk

L-R: Lagos State Governor, Mr. Babatunde Fashola; General Alani Akinrinade (rtd); wife of the first Lagos State governor, Alhaja Abimbola with her husband, Alhaji Lateef Jakande at the commemoration of the 2800 days in office of the administration of Governor Fashola in Lagos…yesterday.

ASUU protests Fashola’s snub Mojeed Alabi

or the umpteenth time, the leadership of the Academic Staff Union of Universities, ASUU, has warned the Lagos State Governor and Visitor to the stateowned university, LASU, Ojo, Mr. Babatunde Fashola, SAN, against allowing the series of crises currently rocking the institution to snowball into a full blown violence especially for the sake of posterity. The union, which accused the university’s Vice-Chancellor, Prof. Oladapo Obafunwa of witch-hunting its members, crass incompetence, poor vision and “warped mindset,” insisted that it would join the Joint Action Front, JAF, a coalition of workers’ and students’ unions to stage a peaceful protest to the state secretariat, Alausa, this morning. Addressing the media yesterday at the ASUU secretariat at the University of Lagos, UNILAG, Akoka, the Lagos Zonal Coordinator of the union, Dr. Adesola Nassir, said the protest became necessary since the governor has consistently refused to respond to several appeals made to his office in the past seeking the government’s intervention on the crises.

JOHESU strike paralyses Fayose: Ekiti needs N7.8bn for outstanding entitlements entitlements included Au- workers in the state. The is over N2 billion as well. Ekiti varsity teaching hospital Adesina Wahab gust and September 2014 obligations were left be“I don’t know where Adesina Wahab Ado-Ekiti

inally, medical workers, under the aegis of the Joint Health Sector Unions (JOHESU) in Ekiti State University Teaching Hospital (EKSUTH), Ado-Ekiti yesterday joined the ongoing strike by their colleagues in other tertiary hospitals, effectively paralysing health care services in the hospital. The workers in EKSUTH had earlier decided not to join the JOHESU nationwide strike, which commenced in November 2014, following an appeal by Governor Ayo Fayose that he should be given time to look into their demands. They also decided not to join the nationwide strike to allow for the accreditation visit of the Medical and Dental

Council of Nigeria and the National Universities Commission (NUC) for the purpose of accrediting Ekiti State University College of Medicine. A source at the hospital said the JOHESU national body had threatened to sanction the local chapter for failing to join the strike since it commenced November last year. A visit to all the wards at EKSUTH yesterday revealed that pharmacists, nurses, radiologists and other health professionals stayed away from work to join the nationwide strike. Many patients that were brought to the hospital were turned back because there was no worker to attend to them. EKSUTH maternity centre, the emergency ward, the pharmacy and other departments were deserted.

Ado-Ekiti

kiti State Governor, Mr Ayo Fayose, has said the state government needs about N7.5 billion to settle arrears of salaries, bonuses and cooperative deductions due to workers in the state. Speaking while inaugurating some projects to mark his 100 days in office in Ado-Ekiti yesterday, the governor said the

salaries of some workers, subventions to stateowned institutions, leave bonuses among others. He, however, noted that despite the huge debts inherited from the former administration, he had to strive to execute some projects and also ensure the prompt payment of salaries. “We have about N7.8 billion obligations to

hind by the former administration. Over N2 billion as leave bonus to workers; over N1 billion as deductions from workers’ salaries that the former administration did not remit to their cooperative societies. August and September 2014 salaries they did not pay some workers amounting to over N2 billion; subventions to tertiary institutions which

to start. Sometimes, I cannot sleep. We did not inherit anything tangible from the former administration. The six months’ moratorium from banks that we got, will lapse in two months and when that happens, banks will be deducting N780 million monthly to service the over N31 billion loans the former administration left behind,” he added.

I will donate my salaries for teachers’ pension, says Makinde Sola Adeyemo Ibadan

ouched by the trauma which teachers in the state undergo due to delay in payment of their pensions after retirement, the Oyo State governorship candidate of the Social Democratic Party (SDP), Seyi Makinde, has promised that if elected, he would donate his salaries to the teachers’ pension purse.

Recalling his growing his youthful years as a growing child of a primary school teacher, Makinde said his experience was enough to guide him to know the plight teachers are subjected to either in service or out of service and this informed his resolve to address their welfare and those of others in the state. He spoke yesterday with teachers from five

local government areas of Saki- West, Saki-East, Atisbo, Oorelope and Irepo council areas at Saki during a town hall meeting held with them as part of the activities marking the flag-off of his governorship electioneering campaign in the OkeOgun area of the state. According to him: “I knew what the teachers were passing through by not being paid as and

when due, and the double pains of having to wait endlessly for the payment of their gratuities and pension after retirement. “Being a child of retired primary school teacher, I must identify with the teachers at all times and not only teachers, but the downtrodden, who I believe have no reason to be poor in view of what God has endowed us with in this state”, he added.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Elections

Unity

Senate

Polls 43

EU observers express concerns on polls

Anenih to Nigerians: Don’t let elections divide us

Okonkwo renews battle for Anambra Central seat

Rivers APC: Electoral violence biggest threat to Nigeria’s democracy

Politics

Old foes renew rivalry

The power game between the Bauchi State Governor, Mallam Isa Yuguda and Minister of the Federal Capital Territory (FCT), Senator Bala Mohammed, poses a threat to the chances of the ruling Peoples Democratic Party (PDP) in the forthcoming elections if not resolved, writes FELIX NWANERI

here seems to be no end in sight to the supremacy battle between the Bauchi State governor, Mallam Isa Yuguda and the Minister of the Federal Capital Territory (FCT), Senator Bala Mohammed, following the resonation of the war of words between the duo over the recent attack on President Goodluck Jonathan in the state. The president was in Bauchi January 22nd to launch the Peoples Democratic Party (PDP) presidential campaign when some broom-wielding thugs stormed his way to the palace of the Emir of Bauchi, pelting his convoy with stones. The thugs later stormed the rally ground where they extended their attack to the FCT Minister and other chieftains of the PDP. As the thugs surged towards the arena where the PDP leaders sat, security operatives moved and stopped them. Some presidential guards who tried to put the hoodlums under control got injured and the rally had to be hurriedly put to an end to forestall further degeneration

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

Yuguda

of the crisis. The Bauchi attack was not the first time the president would be attacked as he criss-crosses the country for votes ahead of the February 14 presidential election. The first was in Katsina State, where he was equally pelted with stones by irate youths. While the president’s camp and the PDP blamed the Katsina incident on the opposition All Progressives Congress (APC) that of Bauchi has provoked a verbal war between the two gladiators in the state –Yuguda and Mohammed. Ironically, both men who are of the ruling PDP in the state are accusing each other of being responsible for the attack. Yuguda: Hold Mohammed responsible While the president’s camp pointed towards the leadership of the opposition APC and supporters of its presidential candidate, Major General Muhammadu Buhari as sponsors of the Bauchi incident, Governor Yuguda shocked the nation, when he told the BBC Hausa Service that the PDP and not APC members were behind the attack in order to embarrass him before President Jonathan. His words: “I am sure and let the world know that the people who did this thing were PDP members and those politicians in Abuja were the ones behind it; they were not APC members. They found

Mohammed

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By Yuguda’s latest embarrassing conduct, he has successfully exposed his chameleonic character as an APC mole in the PDP

these youths on the road and gave them brooms and sachets of water, and they instructed them that when the president was passing, they should raise the brooms and throw the sachets of water at him. “They did that so that the president would think that Isa Yuguda is against him. They have been telling him in Abuja that we are not supporting him. They did that to show the President that Isa Yuguda is nothing in Bauchi, to show that despite being an indigene of Bauchi, Isa Yuguda could not be respected with his guests in Bauchi.” Whereas the governor did not mention names while speaking to the BBC, he was categorical days later, when he accused the FCT Minister (Mohammed) as the mastermind of the attack. He said: “The whole thing was carefully planned and implemented by the FCT Minister in collaboration with his cohorts who wanted to embarrass me and prove to President Jonathan that they were more politically relevant in Bauchi State than the sitting governor. “The minister and his group sponsored small boys of not more than seven years of age and gave them brooms to give the impression that they were from the opposition party whereas they were all wearing T-shirts branded with his name and that of TAN (Transformation Ambassadors of Nigeria).”

Mohammed: Yuguda, a mole in PDP In a swift reaction to the governor’s allegation, the FCT minister described his claims as irrational, adding that he is being attacked because of his support for the president. A statement by the minister and signed by his Special Assistant (Media), Mr. Nosike Ogbuenyi, read in part: “It is simply irrational for Governor Yuguda to allege that the Hon. Minister hired thugs to stone and embarrass himself (Hon. Minister) while addressing the presidential rally in his home state. By this claim, Yuguda has proven correct the allegation that he has been hobnobbing with the APC at night and running with the PDP in daytime. “The question the governor must answer quickly without equivocation is: why did the thugs not stone him (Yuguda) whilst he was addressing the same rally, on the same podium and on the same day? Yuguda should also tell the world why he has suddenly turned into an APC spokesman, by exonerating the opposition party of culpability in the attack of the PDP presidential campaign team in Bauchi. “We wish to state categorically that based on his personal convictions and principles, Senator Bala Mohammed cannot sponsor thugs CONTINUED ON PAGE 42

Politics

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

EU observers express concern over polls Onwuka Nzeshi Abuja

he European Union Election Observation Mission (EUEOM) in Nigeria yesterday expressed doubts over Ni-

geria’s preparedness for the forthcoming general election. It said that the polls could face serious technical and logistic challenges given the plans by the Independent National Electoral Commission

Peace accord not sufficient to curb election violence – Ajulo Wale Elegbede

he National Secretary of the Labour Party (LP), Barr. Kayode Ajulo, yesterday said that violence, before, during and after elections could only be curbed with punishment of perpetrators. President Goodluck Jonathan, his main opponent, Major General Muhammadu Buhari and eight other presidential candidates on January 14, signed a violence-free accord. Also in a meeting with Jonathan and Buhari last Sunday, the US Secretary of State, John Kerry, reiterated the need for Nigeria to hold violence free elections come February 14. However, in a statement issued in Lagos, Ajulo said that violence would end when strong security institutions and justice system are in place. He said: “The peace accord while commendable, had not been able to stop violence that has continued to trail political par-

ties and their campaigns. “The peace accord has no legal backing and could be pushed aside by individuals involved, when they feel unsatisfied. “What is the legality of the accord? Peace accord is not enforceable,” he said, insisting that ineffective institutions were responsible for the violence. Ajulo said there were chances that the post2011 violence could be witnessed again as no one had been punished for being part of the 2011 violence. “Violence has continued because people commit crimes and get away with it. “In 2011 I was abducted and I reported the issue to the police. No one has been able to tell me who my abductors were. No arrests were made. Nothing has been done over it, police excuse was that it was political, whereas a crime is a crime. There’s nothing like election or political crime.

(INEC) to introduce the use of a new but untested technology during the elections. The observation came same day Africans in Diaspora and the diplomatic community in Nigeria launched the “I Pledge Peace Campaign” and urged all eligible voters in Nigeria to exercise their franchise and guard against violence during and after the polls. The EUEOM said that apart from the current challenges in the distribution of Permanent Voters’ Cards (PVCs), the planned use of card readers could pose some troubles as it had not been tested in any previous election in the country. Chief Observer and Head of the Mission, Mr. Santiago Fisas, who expressed these fears at a media chat yesterday, disclosed that the polls might also witness some other hitches because of Nigeria’s failure to implement

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

some of the fundamental reforms recommended by the EUEOM after the 2011 general elections. According to Santiago, while the last general election laid the foundation for strengthened electoral procedures, a number of reforms and improvements were supposed to have been put in place before the next elections in order to consolidate the gains made in 2011. “We must say that we made 50 recommendations on the last elections of 2011 in relation to legal reforms and none of such

reforms has been undertaken except the passage of Freedom of Information Act. So, the problem continues. We are in the process of assessing the level of implementation of the other recommendations. That is the truth. At least the Freedom of Information Act is an important recommendation that has been accepted but the other ones have not been passed by the Nigerian parliament,” Santiago said. He reiterated the position of the Mission not observing elections in the North-East where the Boko Haram insurgents have been operating in the last three years. He debunked allusions that the Mission cannot monitor the elections effectively with only 90 observers, explaining that the essence was not to be at every polling unit but to use a methodology that will make up for the

perceived gap in terms of personnel. Meanwhile, the Head of Mission, African Union and Diaspora African Forum, Dr. Erieka Bennett have applauded the recent signing of a peace accord by the 14 presidential candidates participating in the February polls in Nigeria. Launching the “I Pledge Peace” (IPP) Campaign in Abuja, Bennett said the Abuja Accord, would serve as a boost to the desire of Nigerians to have peaceful elections and a smooth political transition. She said that every Nigerian ought to buy into the peace campaign and ensure that the forthcoming polls were free of violence. The launch was witnessed by the envoys of Namibia, Burundi, Ethiopia, Niger, Cameroon and other members of the diplomatic community in Nigeria.

We’ll deliver 3m votes to Buhari in South-West, says Arewa community Temitope Ogunbanke

rewa Community has promised to deliver over three million votes for the All Progressives Congress (APC) presidential candidate, Major General Muhammadu Buhari (rtd) to emerge victorious in the February 14 election. Speaking to journalists in Lagos yesterday, chairman, Arewa Community in South-West, Arc. Kabiru Abdullahi, said Nigerians need a credible leader at the helm of affairs. “The major problem in Nigeria is corruption and General Muhammadu Buhari is known as Mr. Integrity and someone that is not corrupt. We believe that if voted as president, he will fight corruption. We believe that with General Buhari at the helm of affairs, Nigeria will grow and develop. “Arewa community in the South-West can comfortably boast of

over three million votes, which is higher than the votes of some states in Nigeria. We are like one quarter of the total registered voters in Lagos State and we are prepared to cast minimum of 800,000 votes for General Muhammadu Buhari and for the APC governorship candidate in Lagos State, Mr. Akinwunmi Ambode. “We have embarked on door-to-door campaign and we are confident that the Arewa Community in South-West will give over three million votes to General Buhari. “The Buhari/Osinbajo joint ticket is a good combination. Based on our relationship with Prof. Yemi Osinbajo in Lagos and in the South-West, we see him as one of our own and now that he is a running mate to General Buhari, the more the merrier. We are going to back Osinbajo as part of our own contribution to General Buhari,” he said.

Vice-President Namadi Sambo, President Goodluck Jonathan and others at the PDP presidential rally in Lafia, Nasarawa State …yesterday

Issue-based campaign: APC is hypocritical – PDP Onyekachi Eze Abuja

he Peoples Democratic Party (PDP) has said that the opposition All Progressives Congress (APC) is hypocritical in its claim of issue-based campaign. PDP in a statement by its National Publicity Secretary, Olisa Metuh, yesterday, noted that while it has been showcasing its numerous achievements in all the sectors of national life, the APC has on the other hand dwelt on propaganda, political mudslinging and empty promises to the people. “It is rather hypocritical for the APC whose campaigns and press statements have centred only on insults, blackmail

and attempts to caricature office holders, especially President Goodluck Jonathan to now turn round to accuse others of a despicable conduct for which it has become notorious. “It is indeed public knowledge that the PDP campaigns, press releases and utterances of our officials have always focused on issues that promote the development, unity and prosperity of our dear nation. This cannot be said of the APC which dwells on abuses, promoting of violence and posting of lies, ostensibly due to its lack of manifesto,” the statement added. The party noted that in keeping with its ideology and strict adherence to democratic tenets and good conduct, it has based its campaigns on record

of verifiable achievements and roadmap for a more prosperous future in line with the visions of its founding fathers. PDP added that its press statements and rallies have focused on profiling the performance of its administration, showcasing to Nigerians with facts and figures, the achievements of President Jonathan in key sectors of the economy; education, railway, inland waterways, power and massive investments in road infrastructure. “Also, we have been outlining our performance in health and agriculture, where we have achieved increased life expectancy and reduction in food import; in economy, where we have become the largest in African and the

third fastest growing in the world with Nigerian private enterprises thriving in all sectors. This is in addition to our effort in ensuring the stability of our nation through strict adherence to the rule of law and guaranteed personal freedom, which Nigerians now enjoy,” it stated. The party said it endorsed President Jonathan for second term in office because of his achievements and laudable plans for the future of the country. It said APC press statements and those of its leaders have always been laced with bitterness, insults and inciting comments, symptomatic of frustrated and disgruntled elements desperate for power.

Politics

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Anenih to Nigerians: Don’t let elections divide us

hairman of the Board of Trustees (BoT) of the Peoples Democratic Party (PDP), Chief Tony Anenih, has said that Nigeria must remain united during and after the forthcoming general elections regardless of the nation’s existing religious, regional and ethnic fault lines. In a statement titled, “2015 Elections: Nigeria must keep moving forward in unity,” Anenih acknowledged both national and international concerns about the ability of Nigeria to conduct free, fair, credible and peaceful elections. According to him, “While I acknowledge that these concerns are not without foundation, I have no reservation whatsoever in assuring my fellow Nigerians that, whatever the odds may be, Nigeria will keep moving forward in unity. “As the Chairman, BoT of the PDP, I am unwavering in my belief that the

unity and advancement of our country is better protected by the PDP than by any other party. “In the past four presidential elections, many of you agreed with me and voted our party to victory. For this privilege you’ve repeatedly given our party to steer the ship of state since our nation’s return to democracy in 1999, I thank you once more. “I am also calling on all Nigerians to once again vote the PDP in 2015. It is a matter of verifiable fact that the PDP, besides faithfully discharging its foremost duty to Nigeria of sustaining a stable and functional state, has recorded many achievements in agriculture, aviation, education, road, rail, industrialisation, women and youth empowerment and many other sectors.” Anenih, who is the National Campaign Adviser of the PDP Presidential Campaign Organisation, assured that when re-elected, the PDP-led Federal

Government under President Goodluck Jonathan would build more on the achievements on ground. He specifically commended the revolution in the Almajiri education in the north aimed at integrating the teeming Almajiri population into the regular education scheme, pointing out that the Federal Government has already completed more than 150 purposebuilt schools with many more under construction for the programme. Anenih noted that “the PDP has successfully carried out a strategic restructuring of what was largely a state-run economy to a free-market economy, thereby engendering greater human development, free enterprise and irreversible economic expansion. “These policies have created new jobs and empowered Nigerians from the North, South, East and West, thereby fostering more inclusive eco-

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

nomic growth, especially in agriculture and the Small and Medium Enterprises sector through programmes such as SURE-P and YouWin. “It is a universallyacknowledged principle that inclusive economic growth for the populace is the best guarantee that we have not only for our political and democratic stability, but also in ensuring that Nigeria keeps moving forward in unity.” He appealed to Nigerians to support President Jonathan, whom he described as the best candidate for the job, with a renewed mandate at the polls.

Election violence: Hold opposition responsible, says FG Johnchuks Onuanyim Abuja

he Federal Government yesterday stated that the opposition political parties should be held responsible for any violence in next month’s general election. Minister of Interior, Comrade Abba Moro, stated this in Abuja, while hosting members of the National Human Rights Commission (NHRC), led by its Executive Secretary, Mr. Ben Angwe at the headquarters of the ministry. According to him, “the President will not attack himself. There have been attacks on the president and his vehicles in various parts of the country.

However, the president will work to ensure peace. “Mr. President will respect the peace accord that was signed with the opposition and will do what is necessary to protect lives and property of citizens before, during and after the elections.” The minister told the delegation of NHRC that the personnel of the Nigeria Security and Civil Defence Corps (NSCDC) have already been deployed to various formations across the country as a security measure to stamp out any criminality. Speaking earlier, Angwe noted that security is very important to the existence of any nation and called on the government o organise a roundtable security summit.

Chime, Ekweremadu, Ugwuanyi canvass for votes Uwakwe Abugu Enugu

he Peoples Democratic Party (PDP) campaign train in Enugu State berthed at Udi, the hometown of Governor Sullivan Chime, with an appeal to the people of the state to ensure clear victory for President Goodluck Jonathan in the February14 presidential election. Chime campaigned in the town with the party’s governorship candidate, Hon. Ifeanyi Ugwuanyi and Deputy Senate President, Senator Ike Ekweremadu. They had made a similar call on Monday while addressing a mammoth crowd of supporters at the PDP campaign rally in Oji River Local Gov-

ernment Area of the state where candidates canvassed for votes. Ugwuanyi used the occasion to commend Chime, saying the governor has made governance easy in Enugu State “through his unprecedented performance in office.” The governorship candidate gave an assurance that if voted into office, he would continue with excellent performance. Ugwuanyi called on the people of the state to vote en masse for President Goodluck Jonathan and other PDP candidates in the February general elections. Speaking earlier, Chime and Ekweremadu urged the people to get their Permanent Voters’ Cards (PVCs) and vote massively for President Jonathan.

Oyo Muslims back Ajimobi’s re-election Group petitions US over Buhari’s role in post-election violence he Oyo State Mus- of the Muslim societies T lim Community has at the occasion. he Northern Coali- that it had dragged Gen- eral Buhari and others “Northern Coalition thrown its weight behind Sanni hinged the T tion for Democracy eral Buhari to the Inter- in the year 2012, 2013 and for Democracy and Jusand Justice (NCDJ), a national Criminal Court 2014 during the build up tice instituted legal acthe second term ambi- group’s support for AjiL-R: Benue State Deputy Governor, Chief Steven Lawani; PDP governorship candidate, Terhemen Tarzoor and his running mate, Mr. John Ngbede, at a rally in Gwer Local Government Area of the state...yesterday.

group of Northern prodemocracy activists, has reported the presidential candidate of the All Progressives Congress (APC), Major General Muhammadu Buhari to the government of United States of America(USA). The group urged the U.S. to initiate moves for his prosecution over his role in the post-election violence of 2011. NCDJ, in a letter dated January 25 and titled: “The role of General Muhammadu Buhari in the 2011 post-election violence in Nigeria,” explained

but needed the backing of the US to have him repatriated to the court. The letter signed by Dr. Ibrahim Baba, Secretary, Research and Documentation; Mr. Yunana Shubkau, Publicity Secretary and Umar Farouk, Secretary General was addressed to the United States Secretary of States, Senator John Kerry, and was also copied to the US Ambassador to Nigeria. The letter reads in part: “Conducts of political actors particularly statements credited to Gen-

to the 2015 elections is in the context of politically motivated sectarian violence. And a threat to the conduct of peaceful, free, fair and transparent elections in Nigeria. “Therefore as an integral part of the international community, the United States have an unambiguous obligation to facilitate the prosecution of individuals responsible for the 2011 post-election violence recorded in Nigeria and to checkmate reoccurrence of the same dastardly act in 2015 during the general elections in Nigeria.

tion for human rights violation against Gen. Muhammadu Buhari before the ICC at the Hague. It is in view of the ample video, audio and documented evidence to support a prosecution against him at our disposal that we urge the United States Government to facilitate his handover to the International Criminal Court as there is incontrovertible evidence against him which supersedes that of Mr. Laurent Bagbo of Ivory Coast and Uhuru Kenyata of Kenya

tion of Governor Abiola Ajimobi, whom they described as a promisekeeper. The Muslim Community, the umbrella body for all Muslim societies in the state, expressed the support during an interactive session with the governor, at the Bodija Central Mosque, Ibadan, yesterday. The chairman of the community, Alhaji Kunle Sanni, and the Executive Secretary, Muslim Ummah of South-West Nigeria, Prof. Dawud Noibi, spoke on behalf

mobi’s re-election on what he called the unprecedented achievements of the governor since he came on board in 2011, which the body said had transformed the state beyond their expectation. Sanni said: “We all knew that insecurity and violent disturbances enveloped the length and breadth of the state before you became the governor. These have given way for pervading peace and security during your tenure. “We want to specially commend you for this feat.”

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Politics 17

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

WALE ELEGBEDE looks at the race for the Anambra Central Senatorial District seat and averred that the candidate of the Peoples Democratic Party (PDP), Senator Annie Okonkwo, has a date with history in the February 14 election The choking PDP primaries The Anambra Central Senatorial primary election of the Peoples Democratic Party (PDP) was perhaps one of the fiercest and competitive primaries in the country owing to the array of heavyweights that threw their hats into the ring for the ticket. For the gladiators that contested for the ticket, nothing can be taken away from them. They have the financial war chest, contacts and network to aspire for any office in the land without much stress. In the long list of aspirants that vied for the PDP ticket alongside Senator Annie Okonkwo were Hon. Uche Ekwunife, Dr. Obiora Okonkwo, Dr. Kodilichukwu Okeleke and Mr. Sylvester Okonkwo. After a tensed battle, Okonkwo emerged the PDP senatorial candidate in Anambra Central. Okonkwo, who represented Anambra Central Senatorial District at the Senate from 2007 to 2011 on the platform of the PDP, has picked up his gauntlet to slug it out with his major opponents in the election. The battle ahead Without iota of doubt, the Anambra Central election will be keenly contested among the leading candidates because of the magnitude of the heavyweights expected to slug it out at the election. The major contenders are: the incumbent senator, Dr. Chris Ngige of the All Progressives Congress (APC), Chief Victor Umeh, the National Chairman of the All Progressives Grand Alliance (APGA) and Senator Annie Okonkwo of the PDP who represented the district from 2007 to 2011. The PDP phenomenon To ensure that the PDP household approaches the election with an undivided house, aggrieved aspirants from the primaries have decided to sheathe their swords and support the candidates that emerged from the primary election because that will also have a spill-over effect on the re-election of President Goodluck Jonathan. For Okonkwo, “Our focus should shift on how to ensure PDP’s success in the coming general elections because crisis in the party would affect the fortune of the party in the election. “President Goodluck Jonathan, has done marvellously well in all sectors as president and he deserves to be re-elected. The present administration had established about 12 new universities, increased power generation to over 4,000MW. In agriculture, infrastructure, the Jonathan-led administration has also performed excellently well.” Motivation for representation Speaking on his senatorial ambition, Okonkwo said he wants to

Okonkwo renews battle for Anambra Central seat

Okonkwo

return to the Senate because of his passion to transform the lives of his people. “I feel very bad whenever I see my people suffering. So, I am ready to stake all that I can boast of to enable the people of Anambra Central Senatorial District feel impact of good governance in the state.” He added: “Legislature remains the most critical branch of government by virtue of its relationship and close affinity with the people because they are elected directly by the people. So, it remains the soul of our democracy and because of its central importance representative democracy or participatory representation cannot be separated from the core of our political processes.” Clearly, Okonkwo has proved that he truly was a square peg in a square hole. Within the period of his tenure, he elevated the connection between the sovereign and the elected to a height unprecedented in this part of the clime. He gave a human face to the art of representation within the period of his representation. Okonkwo has an attitude of considering his constituents first in all that he does. He created several fora through which the electorate could access him. He made himself not only available to the people but also listened to their problems and to the best of his abilities assisted equally. He is a very successful businessman, an entrepreneur of international repute and a philanthropist extraordinaire. He has been described variously as a man of uncommon destiny, remarkable character and outstanding accomplishment. Business antecedents He ventured into business at a very tender age and ever since then, he had not looked back. He has consistently through hard work, tenacity of purpose built a vast business empire that spans into telecommunication, oil and gas, manufacturing, banking,

Ngige

Umeh

export, import, real estate and among others. His businesses and investments have become major conglomerate in the country today, providing employment to thousands of Nigerians. INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

The Anambra Central election will be keenly contested among the leading candidates because of the magnitude of the heavyweights expected to slug it out at the election

Support for kinsmen In his immediate community, Ojoto Obofia, he tarred a major road leading to Iruebenebe village, provision of clean water and rural electrification to the community. He has also contributed to most communities across the nation. Okonkwo established Agunechemba Foundation to enable him empower the youth with educational endowments and skill acquisitions; this has put smiles on the faces of many. Many young people that have worked with Okonkwo experienced phenomenal transformations in their lives. Legislative record Just three months after he became senator in 2007, he came back to his zone and unveiled his Legislative Agenda which bothers on tackling of erosion and environmental degradation. He ensured that the Senate Committee on Environment and Ecology undertook a two-day oversight visit to Anambra State during which the committee asked the Federal Government to declare a state of emergency on Anambra erosion sites which led to review of ecological funding by Ecological Fund Office. When the Obosi/Nkpor road became impassable and broken down at the Nkpor end, the people of the area beckoned on him. Okonkwo immediately led a Federal Government and the state government delegation to the place which saw the contractor mobilising to site to restore the road within a very short period. On issues of employment, Okonkwo facilitated federal employment to over a hundred of his constituents and people of the state at large. This includes

the Police, Federal Ministry of Environment and parastatals under it, the Federal Civil Service, etc. In the 2011 Customs recruitment exercise, about 13 of the Anambra Central senatorial zone constituents were enlisted. In 2009, he distributed 15 units of transformers to communities in Anambra Central zone which were handed over to communities through the President Generals of the Town Union. Also in 2010, seven transformers were distributed. In 2011, 20 communities in Anambra Central senatorial zone received transformers from Okonkwo. He has also donated ICT facilities to Federal Polytechnic, Oko. Okonkwo’s philanthropy, commitment and service to humanity is quite unprecedented and he has been severally honoured by various communities and organisations both within and outside Nigeria. Among such titles and awards include: Agunechemba Ojoto, Onwa of Oba, Dikedioranma of Aguluzoigbo, Okosisi of Nri, Ojelu Igbo Ozi na Obosi. He is also a recipient of National Productivity Order of Merit Award (NPOM), Dr. Kwame Nkrumah Award for Excellence in Enterprise by WAM, EMRC, Euro Market Brussels Leadership Award in recognition of exemplary leadership by Leadership Watch. Annie as he is fondly called by his numerous admirers, had his early education at School Road Primary School and Ngwa High School, all in Aba, Abia State. He also attended Government Secondary School Owerri for A-level. He later enrolled in University of Lagos where he obtained Diploma in Marketing and an Advanced Diploma in Commercial Law and Practice. Okonkwo’s quest for self-actualization also saw him taking a specialist course from the prestigious Harvard Business School from where he graduated in 1997.

MORE STORIES ON pageS 40-43

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Opinion The political economy of change (2) Jide Ayobolu Continued from last Wednesday

his means, on the average of one hour one crash occurs on the road with six persons as victims. In other words Nigeria has five deaths per 10,000 vehicles and four deaths per 100,000 persons. The foregoing statistics ensure that Nigeria has the second highest road traffic accident fatalities among 193 countries according to the World Health Organisation (WHO). These road fatalities affect men, women, boys and girls impacting negatively on the country’s ability to achieve the MDGs. It is important to note that, road transportation is by far the commonest means of transportation in Nigeria. However, the Rural Road Access and Mobility Project (RAMP), has revealed that 85 per cent of Nigeria’s roads are in a deplorable state. Moreover, Minister of Water Resources, Sarah Ochekpe, announced that about 52.8million Nigerians lack access to potable water supply. According to the petroleum resources minister, Mrs. Diezani AlisonMadueke, oil bunkering costs the country $9 billion every month. And, Nigeria loses N61 trillion to local content non-compliance in the oil and gas sector. There is poor budgetary framework and very poor budgetary implementation; there is no food security, there is persuasive systemic wastage cum leakages and high cost of running government, over-dependence on foreign aids for domestic developmental efforts, over-reliance on foreign dictated economic policies to solve local problems. Hence, it is very clear that there is no roadmap to anywhere. Nigeria wants to become one of the biggest economies by year 2020 and the journey has not even started. Perhaps, the only people who keep congratulating one another and heaping panegyrics on themselves are those in the corridors of power. Outside here, the stark reality is that it is not yet morning on

creation day. It is in the light of this development that, Mrs. Oby Ezekwesili rightly observed that, Nigeria requires $14.2 billion to fix ailing infrastructure per year over the next decade to provide non-existent infrastructure and ailing one. The amount translates to about 12 per cent of the country’s GDP. China spent about 15 per cent of its GDP on infrastructure in the mid-2000 and this lifted the country’s economy massively, but Nigeria has not gotten to the brass task. Those who preside over the affairs of the country delude themselves that nation-building and national development occurs by happenstance. Furthermore, in Nigeria, corruption stifles economic growth; reduces economic efficiency and development; despite the enormous resources in the country. Corruption creates negative national image and loss of much needed revenue. It devalues the quality of human life, robs schools, agricultural sectors, hospital and welfare services of funds. It discourages foreign investments leading to decrease in Foreign Direct Investment. It exacerbates inequality, desecrates the rule of law and undermines the legitimacy and stability of democratic regimes. It slows down administrative processes thereby making the implementation of government reforms policies ineffective. People engage in corrupt practices in Nigeria as a result of high level of poverty, high unemployment rate, under-remuneration of workers, financial hardship, persuasion by friends and colleagues in public offices, desire to please kinsmen, late payment of contractors by government, over-concentration of power and resources at the center, unregulated informal economy, nepotism, tribalism in the administration of justice and lack of honest leaders. The biggest challenge for the country therefore is not just to punish corrupt behaviour or go into bargaining plea. The country must reverse the prevailing culture in which corruption is viewed as permissible. People should be educated on the dangers of excessive materialism and the culture of ‘get rich quick’. There is also the need for more job creation with better remuneration.

Also, the petroleum industry is central to the Nigerian economic profile. It is the 12th largest producer of petroleum products in the world. The industry accounts for almost 80 per cent of the GDP share and above 90 per cent of the total exports. Outside the petroleum sector, the Nigerian economy is highly amorphous and lacks basic infrastructure. Several failed efforts have been made to develop other industrial sectors. Sadly enough, the Nigerian economy continues to grapple with a number of challenges that have hampered efforts at economic transformation. First, the economy is yet to achieve the necessary structural changes required to jump-start rapid and sustainable growth and development. Aside disarticulated and narrow productive base, sectorial linkages in the economy are weak. Primary production comprising agriculture, mining and quarrying inclusive of oil and gas dominate national output while the manufacturing sector role in the economy is decidedly small in terms of share of gross output, contribution to growth, foreign exchange earnings, government revenues and employment generation. The economy also confronts monumental challenges in form of dilapidated and chronically non-functional infrastructure. The decay in the country’s infrastructural base reflects glaring poor maintenance and weak technological base. The weak technological base is a consequence of low research and development efforts and disconnect between research findings and industry. The private sector is equally weak. Today, in the country, there is obvious general insecurity and needless bloodletting, the Federal Government has not been able do deal firmly with Boko Haram and Fulani herdsmen; yet these criminals have continued to kill innocent people indiscriminately and the government is clueless. Up till today the government has not been able to rescue the kidnapped Chibok girls and it kept an undignified silence on the Buga massacre. Concluded

Certificate saga: Story of Zik, Aminu Kano and Buhari Akin Oyegoke

he reference to the legendary Zik of Africa is not in any way meant to diminish his widely acclaimed status by this disproportionate comparison neither is it an attempt to equate Muhammadu Buhari’s northern populism to that of Malam Aminu Kano, the emancipator of the talakawa. It is rather to recreate and play up, similar scenarios in the political carriers of these eminent Nigerians and give a measure of value to the extant political discourse . In 1979, Dr. Nnamdi Azikiwe, then the presidential candidate of the Nigerian Peoples Party( NPP) and Aminu Kano, the flag bearer of the Peoples Redemption Party( PRP) were disqualified by the Michael Ani led Federal Electoral Commision (FEDECO) for allegedly not meeting up with income tax requirements. Dr. Azikiwe had submitted his income tax papers based on the tax of the shares from the companies he had interest in while Aminu Kano paid a poll tax of Six Naira and submitted that he had no other taxable income. These frontline Nigerian leaders had to secure the judgement of competent courts to forge ahead with their aspirations. This was two months to the 1979 election in which Zik later won the old Anambra, Imo and Plateau States while Aminu Kano won convincingly in the old Kano State. An interface between the road to

the 1979 presidential election as it affected Zik and Aminu Kano and the on-going academic certificate controversy surrounding the candidate of the All Progressives Congress in the February 14 2015 presidential election, Gen. Muhammadu Buhari tables a lot of issues for discussion. One is that due diligence, scrutiny, and character on the part of political parties as well as the national and state electoral bodies have progressively retarded. And this is not unconnected with the furiously degraded societal mores. Post modernism in our clime appears to have eroded so much of the ethical fabrics that erected integrity to the front post . The truth is that a lot of water has passed under the bridge. A friend asked me few days ago: “ when last did you hear that INEC disqualified a candidate of a political party or is it that there is no more certificate forgeries, non compliant tax papers or other related matters?” In various elected positions today and among those seeking to be elected, are persons with furious deficiency in INEC requirements, yet were given a clean bill of heath. Flash back to 1999 and ask if the self-styled leader of the APC, Bola Tinubu was not screened by the defunct Alliance For Democracy and INEC before contesting and emerging as Lagos State Governor ? Was Salisu Buhari not screened by the PDP and the INEC before winning a seat in the House of Representatives and subsequently emerging as Speaker? Now, why was

INEC unable to discover the discrepancy in Bihari’s certificate since 2003 when he first contested for president? This is the fourth time. How come that his various political platforms did not raise issues about this? Would the certificate scandals that blew open while both Tinubu and Salisu were in office not have been conclusively settled before their elections ? Though the case of Dr. Azikiwe was a well planned and orchestrated hurdle laid on his way by the opponents who felt his entry had altered their calculations, it would be safe to assert that the then FEDECO was bold and more scrupulous to have thrown that wedge in the way of the mighty Zik. If INEC had done what it ought to on Buhari’s matter months back, this unnecessary distraction and overheat on the fragile polity wouldn’t have come up. It is surprising therefore that INEC has abandoned this critcal aspect of its responsibilities to the civil society groups and the media. Now that the APC presidential candidate has caused his Government College, Katsina to produce his school certificate, a nagging question still revolves around the validity of the result and its process of procurement as has been raised by the PDP. At the bottom line, why should an elder statesman at the level of a former Head of State allow himself to be ridiculed before doing the right thing? I have no doubt that a former Head of State who rose to the rank of Major General in the Nigerian Army must have attended several courses

whose educational value far outstrip the secondary school certificate, the fact however remains that this basic requirement is an overriding stratum without which other structures easily collapse and rendered nullity. For those who castigate the Peoples Democratic Party for seeking to get to the end of the certificate matter and leaving the crunch of the campaign, a lot of issues is being forgotten here. A controversial basic academic requirement for a leading opposition presidential candidate, in the background of a much vaunted incorruptibility of the same candidate, is a very large chic in the armoury of the opposition that only a politically naive PDP would let matters go. There is no politician that knows his onions that will fail to take this advantage if only for its destabilizing component . The matter is really grave and the inarticulate explanations by the APC leaves much to be desired. Here again, lies the difference between wisdom and bombast for which the party is known . The tide has changed so fast. The APC has for long been on the rampage . The opposition has far too long been on the onslaught, using all manner of tenuous issues to malign and denigrate the person and the office of the president as well as the leaders of the PDP. Many an enemy of the APC are no doubt enjoying this unending drama. The APC is no doubt feeling the heat. • Oyegoke lives in Abuja.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

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Petrol price goes down at last

xactly three years after Nigerians started paying N97 per litre for petrol, the federal government, for the second time in recent memory, without being forced by mass protests, on January 18, 2015 reduced the price, to N87. In January 2012, the federal government fixed price of petrol at N97, after days of nationwide mass protests and shutdown of major cities greeted an attempt at full deregulation of the downstream sector, which led to petrol price rising to more than N140 per litre. Three years after, on Sunday, January 18, the Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, announced reduction of petrol price to N87 and attributed the decision to the falling oil prices in the international market. She directed the Petroleum Products Pricing Regulatory Agency (PPPRA) and Petroleum Products Marketing Company (PPMC) to effect the change immediately. The price of crude oil in the international market, which largely determines the price of petrol locally, has continuously been on a decline, from $115 a barrel in June, last year, to below $50 now.

A member of the Organized Private Sector (OPS) and Director General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, on his part, called on the federal government to also cut the price of diesel, which is a major resource for industrialists across the country In the country’s history, this is the second time that the federal government will be reducing the pump price of petrol, not as a reaction to mass protest. It first happened in June 2007, during the administration of the late President Umaru Musa Yar’ Adua, who reduced it from N75 to N65 per litre. Reactions have since trailed the reduction. The Trade Union Congress (TUC), in a statement by its President, Mr. Bobboi Bala Kaigama, commended the

gesture, and said it showed government’s sensitivity to the plight of millions of impecunious Nigerians. The body, however, faulted the N10 margin, saying it was not commensurate with the drop in price of crude in the international market. A lecturer in Energy Law at the Faculty of Law, University of Lagos, Dr. Dayo Ayoade, reportedly described the price cut as being in line with international best practice, and noted that petrol price reduction as a result of crash in global price of crude was already being enjoyed by countries in the Western world. He, however, warned that Nigerians should be ready to pay more as soon as the price of crude oil increases in the international market, unless government opted to subsidize the difference, a development he said was not healthy for the country. A member of the Organized Private Sector (OPS) and Director General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, on his part, called on the federal government to also cut the price of diesel, which is a major resource for industrialists across the country. On their part, members of

the Nigeria Employers Consultative Association (NECA), in a statement by the body’s Director-General, Mr. Olusegun Oshinowo, said the reduction was a right action within a wrong policy framework, and called for total deregulation of the oil and gas sector rather than a unilateral price reduction in the price of petrol. NECA said the OPS expectation was that government would seize the opportunity of the current decline in the price of crude oil to commence implementation of the policy on deregulation of the downstream sector of the Oil and Gas. We at the New Telegraph join other Nigerians and groups in commending the reduction in price of petrol as a step in the right direction. We also note that even at a price of below $50 per barrel at the international market, the federal government is still claiming to be paying subsidy of about N2.84 on every litre of petrol. We find this very worrisome. We are persuaded by the argument of NECA that this period of low prices in the international market is perhaps the best time to implement the total deregulation of the oil and gas sector.

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Arts

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Book Review

Shoeless Night: Gripping narrative as some youths rot behind bars

‘S

hoeless Night’ is the title of a gripping and compelling story written by Oluwafemi Oloidi. Published by Omojojolo Press, Nigeria, the 187-page book captures, in amazing details, the gruesome encounter of four exuberant youths in the hands of the Nigeria Police Force in Port Harcourt. It is a true-life story garnished with no fiction, no fabrication. Written in a language that greases the pages with fluidity and hilarious effects, this outstanding literary piece overwhelms the reader with boisterous merriments of rib-cracking laughter. It contains a total of 33 chapters, the shortness of which makes it easier to connect one to the other. With this, continuity is maintained even for slow readers and the story can be effortlessly assimilated. The journey begins from Chioma’s house where the four friends have reeled in the merry of a social party before venturing into the dark belly of the night. The seeming innocent venture eventually transforms itself into a gory adventure in the hands of the policemen who are on duty at a checkpoint and swiftly arrest them (for no offence whatsoever). The wear and tear of the night humble the bubbling friends and toughen the policemen who make sure they (the bubbling friends) are goaded, with no known charges, straight into the gaol. Interestingly, this is not where the author begins his story from, as his first encounter with Chioma at the party actually manifests in Chapter 5 aptly titled ‘Chioma’. From that point, the real cruise into the hands of the men in black takes its excruciating toll on the victims of injustice. The author’s interchangeable use of suspense and flashbacks generates tension and diversion in such a

TONY OKUYEME tony.okuyeme@ newtelegraphonline.com

Book title: Shoeless Night Author: Oluwafemi Oloidi Publisher: Omojojolo Press, Nigeria Pages: 187 Year: 2014 Reviewer: Mufu Onifade

way that the reader is wholesomely captivated. All happenstances at the police station are a devastating drama, which in itself is laced with occasional comic reliefs as literally painted by the author. The officer-incharge, apparently proving to be in charge, charged at his victims with venom of hate and anger splattering from his eyes: “Why do fine boys like una dey do ugly, yeye things?” But ironically, those “yeye things” are not explained. So, the accused (or suspects) remain in perpetual ignorance of the purported offence. All the same, the word of every officer at the station, whether it makes sense or not, is law. The accused simply comply to avoid untold physical assault. So, when the officer yells, “Move!”, it simply means move and move they must into the cell. No trial, no interrogation; just suspicion, accusation and pronouncement of a guilty verdict - away from the court of law. The cell rooms are better described by the author: “Cell 0 is for hardened women criminals, known as Eve’s Den. Cell 1 is for regulars, but still

Written in a language that greases the pages with fluidity and hilarious effects, this outstanding literary piece overwhelms the reader with boisterous merriments of rib-cracking laughter

moderately tough. It’s called Christian Cell. While Cell 2 is called Heavenly Cell, Cell 3 is where they keep dark hearted criminals and the most fearful thing is that one hardly hears voices from the cell, and this shows the kind of evil happening inside. Cell 4, the final Cell known as The Paradise of Hell, has almost the same mortuary mood with (sic) cell 3, but criminals are not kept there for a long period because it’s a cell where they temporarily keep the hoodlums, before transferring them to the gallows room…” That gallows room is called Sinking Hell and is of a few metres away from the Cell. For the next four days or so, Oluwafemi and his friends, ignorant of what offence they have committed, suffered inside Cell 1. They gnashed their teeth. They cried, they hissed, they pleaded, but the claws of injustice nail them to the floor. In a couple of hours, however, the author is driven by those instincts of a writer that compel him to see the experience from a more positive angle. So, while the hope of freedom dims, he throws himself on old cellmates who are soon cajoled into divulging true information about themselves – the types that even the police have found difficult to extract. There are many of such shady characters in the cell; and there are many innocent ones who just suffer for no known reason. They are all confined by destiny, in a striking variety of strange names: Monster Seed; Ogene, the cell conductor, also known as SixFeet De Terminator; DOC, etc. One of the first new cellmates thrown in to join Oluwafemi and other old cellmates in Cell 1 is the die-hard and commando-like Obinna popularly called Full Payment. An intellectual criminal, he has a transcending reputation for kidnapping, highway robbery and other criminal activities. There is also Celestin who has been brutally tortured by his prisoners, but rather than being subdued, remains emboldened. He gives the author a more intriguing conversation more than anyone else in the

cell. Also present is Tochi who is an intimate friend of Ubom. In Ubom’s assessment, Tochi is a good person and a chorister who was forced by a community clash that saw her family house razed to ashes, to escape from Akpabuyo in Calabar, Cross Rivers State. He found himself in Port Harcourt. Tochi is already doing fine in the city before Ubom encounters him again and got him involved in a case of kidnaping that lands them in police cell. Osas is a Delta boy who makes a frightening revelation to the author in their private conversation. He identifies a graffiti on the wall of the cell room, which he claims was written by his brother. The brother had disappeared from home, but when Osas got to the cell, he discovered, to his amazement, that his brother was shot along with another friend by the police right there in the same cell room. The graffiti says it all. The story of Gloria (who is in Cell 0) is told by Osas. She is a female footballer who has played with Falcons (Nigerian female football team) and missed the Olympics due to her predicament. She was arrested in company of her boyfriend who was a car thief, drug dealer and had bought stolen Murano and Land Cruiser jeeps! There are many men and women of shady characters in the cell rooms, yet some are innocent or have committed pardonable offences. These cell rooms, however, serve as temporary painful cooling abode while the road is being prepared for suspects and accused persons to either stroll into freedom or go to prison via the prism of the lawful. Inexplicably, however, some unlucky ones get exterminated right there in the cell rooms - trials or no trials. After spending four nights and four days in the dark belly of the cell, Michael’s father, who has been to almost twelve police stations before forcing an SOS call that traces their detention, finally secures their release. Ironically, the Nigerian Police Force is not dominated only by mean and wicked men who abhor justice and harbour injustice. In the same Force are some good-natured individuals. This is revealed towards the end of the book by the author when he and his friends encounter one or two officers who have displayed exemplary characters. That balance shows that the author is not biased against the Force, in spite of his gory encounter. The journey to the cell begins from Chioma’s house but when the air of freedom blows on Oluwafemi, a number of factors impedes on their re-union. The game of suspense persists until Chioma puts a call through. The typical Nigerian network, with its usual fluctuating pain in the neck, takes charge. In search of clarity, he has to climb a hill of blocks from where he crashes to the ground and breaks his right arm! He ends up in the bone specialist’s den where he later reconnects with Chioma. As expected, they both later become lovers. That is, at least, one pint of sweetness that brings a happy ending to the story of trauma and torture in the hands of the Nigerian police.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

FCT Watch

‘We’ll create coffee market in Nigeria’

Money

The Investor

Maritime

Why NSE’s $1trn target became a mirage

Ship owners fret over shipping fund payment delay

How banks are driving marketing via the web

Business What's news

Shareholders lose N39bn in oil and gas Investors in the oil and gas sector of Nigeria’s capital market have lost N38.806 billion in the past three weeks following market depression that has pervaded the stock market, owing to the steep drop in the prices of crude in the international market which necessitated the devaluation of the naira.

Cheque clearance drops 16% to N1.706trn in three months CASHLESS Efficient and cost effective electronic transfer platforms are taking the shine off cheque usage

payments in Nigeria but also the need for greater efficiency in the payments space, which would be ultimately supporting the rising level of alternative payment channels adop-

tion in Nigeria. The report showed that during review period, 3,892,502 cheques valued at N1.706 trillion were cleared, indicating some 16 percent drop from

the N1.936 trillion, cleared in 4,067,793 cheque transactions. The reduction was also attributed to cheque truncation CONTINUED ON PAGE 22

p.22

Godson Ikoro

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Godson Ikoro

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

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Adeola Yusuf Energy Editor

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he value of cheques cleared by the Nigerian Automated Clearing System (NACS) between September and November 2014, has reduced by 16 percent to N1.706 trillion compared with the sum of N1.976 trillion cleared during the corresponding period penultimate year (2013). According to a report of the Nigerian interbank settlement system (NIBSS), the value of cheques cleared reduced by 15.83 percent compared with cheques cleared during the corresponding period in 2013. The report also showed growth in electronic payment trends on NIBSS platforms as consumer spending habits increased in favour of the use of alternative e-payment channels aside the Automated Teller Machines (ATMs) withdrawals. Going by the latest NIBSS report, mobile money (inter scheme) transfer, rose by 494.76 percent to N4.996 billion from N840.02 million; e –bills payment to N28.017 billion from N8.845 billion, Point of Sales (POS) N84.209, billion from N51.107billion, while Nigeria Instant Payment (NIP) rose to N5.324 trillion compared with N3.356 trillion in 2013. According to NIBSS, the record indicatives not only the potential for electronic

Director-General, Bureau for Public Reforms, Mr Ekpo Nta (left) and Chairman, Independent Corrupt Practices Commission (ICPC), Dr. Joe Abah, during a public reform session in Abuja.

N1.21bn scam: Shipowners hold emergency meeting Bayo Akomolafe

he Nigerian Indigenous Shipowners Association (NISA) has called for an emergency meeting to investigate allegations of a N1.21 billion ($6 million) scam against its president, Capt. Olaniyi Dada Labinjo. NISA’s image-maker and

Lloyds Ambassador, Emmanuel Ilori, confirmed to our correspondent that a meeting of the association’s executive members was being held to unravel the allegation. He said: “This executive team was composed of credible and seasoned operators in the banking, insurance and maritime sectors. We are mindful of what the industry expects from

us and we are also fully aware of the fact that this industry is far above any individual or group.” The NISA executive had embarked on a hurried meeting, after a report broke that Navy Capt. Niyi Labinjo (rtd) had been accused of allegedly diverting part of a $5.85 milCONTINUED ON PAGE 22

Abdulwahab Isa Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Rates Dashboard INFLATION RATE December 2014.........................8% November 2014........................7.9% October 2014............................8.1%

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

EXCHANGE RATE (Parallel as at Jan. 22)

USD . . . . . . . . . . . . . . . . . . . . . . N206 Pounds . . . . . . . . . . . . . . . . . . . N297 Euro . . . . . . . . . . . . . . . . . . . . . . N228

l Foreign Reserves – $34.49bn as at 22/01/2015

Source: CBN

EXCHANGE RATE (Official as at Jan. 22)

USD . . . . . . . . . . . . . . . . . . . . . . N169 Pounds . . . . . . . . . . . . . . . N254.96 Euro . . . . . . . . . . . . . . . . . . . N195.10

Business | News

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Shareholders lose N39bn in oil and gas SELL-OFF Depletion in prices of crude oil cast damper on oil and gas stocks Chris Ugwu

nvestors in the oil and gas sector of Nigeria’s capital market have lost N38.806 billion in the past three weeks following market depression that has pervaded the stock market, owing to the steep drop in the prices of crude in the international market which necessitated the devaluation of the naira. Investigation by New Telegraph showed that the oil and gas sub-sector recorded a loss of N38.806 billion or 5.4 per cent to close at N713.218 billion in market capitalisation on January 26, 2015, as against the closing figure of N752.024 billion on December 31, 2014. Foreign investors are selling stocks as the price of crude continued to drop into a bear market and on concern that measures the country’s central bank put in place to stem capital outflows would hinder their ability to sell holdings in Africa’s top oil producer. The fall in the price of crude oil in the international market is sending economic and political shocks around the world. The hardest hit has been countries whose economies depend largely on oil for appreciable percentage of their foreign exchange earnings such as Nigeria. With stocks currently trading at their multi-

year lows, market analysts expect a sustainable bear run as the general elections approach. They believed that investors’ sentiment would be weighed down by political tensions leading to the 2015 general elections. The tension between the Peoples Democratic Party (PDP) and its major opposition All Progressive Congress (APC) is expected to lead to a lull in the equities market as investors, mostly foreign, evaluate the electoral process and its outcome whilst fearing post-election violence. Foreign Portfolio Investments (FPIs) are also expected to remain wary of the local bourse until the elections are concluded and possible violent fallouts curbed. Crude oil accounts for about 90 per cent of Nigeria’s foreign exchange receipts. The reality of possible crippling budget shortfalls also stares many oil exporting countries in the face as the priced commodity has hit its lowest price level in four years. Crude oil prices started dropping in the international market from as high as N110 per barrel in January to the current level of 58 dollars. It is noteworthy that crude oil is not just the principal export commodity of the country, but indeed all aspects of the nation’s economy rely on the commodity as the major source of revenue. The annual budgets, which defines the country’s policy direction, is based on crude oil price benchmarks.

Cheque clearance drops 16% CONTINUED FROM PAGE 21

system introduced in the system two years ago. Nigeria Automated Clearing System (NACS) is used to measure the entire financial system’s activites. NAC was manually operated and paper-based, such that instruments took several days to clear and for beneficiary receive value. But “with automation of the clearing system, this whole process takes less than 48 hours in its entirety”, NIBSS said in the report. The drop in both volume and value of cheques was also attributed to the cashless policy, where third party cheques cashed over the counter by an individual is a maximum of N500, 000; N2,500,000 for corporate institutions and

N150, 000 from the ATM on the same day. The policy, New Telegraph gathered, had motivated people to prefer other alternative payment channels. Consequently, payments with cheques are waning while the channels are growing. The e-bills payments showed that the volume of bills amounted to 325,277, worth N28, 017.84 billion compared with N8.845 billion recorded between September and November, 2013. Also the POS rose from N51.107 billion on 3,141,904 transactions to N84.209 billion, on 24,766,820 transactions, while NIP rose to N5.32 trillion on 11,964,131 transactions from N3.356trillion on 3,773,447 transactions in 2013.

While the 2014 budget was based on $78 dollars per barrel, the 2015 have been predicated at $65 dollars per barrel. Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, said the fall in oil

prices have led to new austerity measures. The minister said the country would begin to feel the negative impact of the fall in global oil prices, cautioning that the country would need to brace up for tougher times

ahead by reviewing its expenditures and building economic buffers through budgets based on modest oil prices. She said that the decline in crude oil prices had assumed a disturbing dimension.

Nigeria is expected to begin to see the actual effects of the oil price crash from March given the fact that the current revenue inflows were based on forward purchases that had been concluded few months back.

L-R: Operations Manager, Recare Limited, Mr Daniel Anim-Appiah; Public Relations Manager, Mrs. Toyin Adepegba and Field Education Manager, Mr Daniel Komlan, during a meet and greet session with the media in Lagos

Shipowners hold emergency meeting CONTINUED FROM PAGE 21

lion (about N1.2 billion) loan facility granted by a Nigerian commercial bank to an indigenous shipping company, Acenk Maritime & Energy Services Limited, for the purchase of two vessels. It was learnt that the accusation was being leveled against Labinjo and his wife, Bola, by the daughter of their benefactor, the founder and immediate past Chairman of Nigerian Shipowners Association (NISA), Chief Isaac Jolapamo. Mrs. Adenike JolapamoOnifade had complained that her greatest undoing was to disclose to Mrs. Labinjo that she was about to access a loan from one of the first generation banks. Jolapamo-Onifade said: “About five months ago, in August 2014 to be precise, I made an application for a loan of $2.5 million to purchase an oil tanker to the bank. Whilst speaking with Mrs. Labinjo a few days later about the loan application, she pleaded with me to increase it from $2.5 million to $7.5 million. “She said that General Alexander Ogomudia wanted to give them (the Labinjos) a 30 per cent deposit to purchase a Fast Support Intervention Vessel (FSIV) for him. “She told me the price of the FSIV was $4.2 million, so I said that we should request for $6.5 million loan rather than the $7.5 million she suggested. “The bank requested 10 per

cent equity on the transaction. This amounted to $650,000 (N125 million), which Mrs. Labinjo made available. She said it was provided by General Ogomudia.” Jolapamo-Onifade said that the loan facility of $6.5 million was subsequently granted to her company, Acenk Maritime & Energy Services Limited, via an offer letter dated September 15, 2014. She requested that a Memorandum of Understanding (MoU) for the purpose of repayment structure to the bank for the three-year period be signed between her company, Acenk Maritime & Energy Services and Ogomudia’s company, Turbo Dynamic Nigeria Limited, in the ratio of $2.3 million to Acenk for the purchase of the oil tanker it needed and $4.2 million to Turbo Dynamic for the purchase of its FSIV. Jolapamo-Onifade said: “After the fulfillment of the condition precedent to drawdown and the money ($5.85 million) was released into my account for onward transfer to the different vendors. I allowed and gave the bank written instructions to transfer the balance of the money ($2.35 million) to Labinjo’s broker, Radunia International Corporation in Greece. “This was after the first transfer of the ten per cent deposit (equity) to the same broker. I later found out after the arrival of the vessel that the broker, Radunia Corporation, did not remit the $650,000.00 to the owners of the FSIV as

it was actually purchased for $3.5 million, which the bank transferred directly to ABC Maritime Corporation in Geneva, Switzerland, who are the owners of the fast intervention support vessel named ‘FISV KRYSIA’. She said that at the conclusion of the transaction on the FSIV, invoices were given to the Labinjos, informing them that a 5,000dwt 1989-built oil tanker, which was trading on Italian waters, had been negotiated for. She said that after waiting for over a month without any headway, she approached one of her friends at Fidelity Bank where the Labinjos maintain their company accounts. That was when the bubble burst as she discovered that rather than pay for her oil tanker with the balance ($2.3 million), Radunia had been transferring the money into various accounts belonging to the Labinjos. In all, it was discovered that a total of $1,125,530 (N216 million) of the first generation bank loan had been transferred by the supposed shipbroker, Radunia International Corporation, to the companies. “There is also no evidence that the $650,000 released as equity contribution by General Ogomudia was transferred to any broker or shipowner abroad.” However, when contacted, the NISA President, Capt. Niyi Labinjo denied having any business transaction with Jolapamo-Onifade.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

FCT Business Watch

‘We’ll create coffee market in Nigeria’ Populated mostly by elite, Abuja metropolis is not in want of distinct eateries and relaxation spots to cater for the exclusive class. Eateries are expanding in tandem with the city’s burgeoning population. However, a new concept of eating shop entirely outside of the regular eatery centres has arrived the town. A Coffee shop has sprung up to offer residents different distinct coffee tea, under blaring classic rock music. In this chat with Abdulwahab Isa and Yusuf Shuaib, Director of Franchise operations, Classic Rock –Coffee shop, Brett Payne, said that with Abuja market established, other states in Nigeria will soon follow. Excerpt: What informed your decision to veer into coffee shop instead of the usual traditional eatery centre? Our Classic Brand headquarters is located in the United States of America in a city called spring field Missouri. We decided about two years ago to begin franchising our brand because we felt that even though we know there are lots of coffee stores around, there wasn’t anything really distinct in a coffee business. So, that’s how we decided the idea of coffee business and classic rock music. Classic rock music is very much what we are doing. We consider a high and rock coffee house, we sourced all of our coffee in the world; so, we roast our coffee and then we decided to franchise our brand, but we felt not just to limit that to the United States; we want to bring it outside of the United States. Very quickly, we started putting headquarters in Islamabad, Pakistan, India, Egypt, Lebanon, in Morocco - all over the place - and we were contacted by our master franchise here in Nigeria. What informed the choice of Abuja? We were contacted by our master franchise here who found us online to be interesting. He contacted us to know if we would be interested in working with them to open a store here in Abuja. We researched the coffee market and found out that there wasn’t any other coffee franchise that is coming; that way, we have to create a coffee market. But after speaking with them, we realised that it was a really strong business background and very good for us to be the first to establish a brand here and to basically have to create and control the coffee market. Abuja is populated by elite class and we are very happy with what happened. This transaction took between eight and nine months to put this place. How experienced are your workers in handing a new eatery concept? We set the trainers. We have staff who will train the other staff who have been here for a couple of weeks and I just came recently to

it, we decided to add Classic Rock music. It wasn’t a group of people in a boardroom who said where we can get that sustainable fad. What we wanted was something sustainable and classic rock music is a general music from the early 1960s all through the mid-90s, it’s a huge volume of music that we can pull from. If I go to the United States of America and I go to group of 12 year old or a group of young students and I play that song, they know it. If I play that song to 65-year-old in United States they know that song; go to Hong Kong and play that song, they know that song, come to Abuja and play it, Abuja residents know it. Classic Rock music is a general music that cut across nationality, age groups, male and female and therefore it’s a common thread that brought our customers together. They can come into classic rock coffee, sip their coffee and listen to classic rock music. That is why we decided to do it, blend coffee with classic rock music.

check and see how things are going and make sure everything is in line with our brand, and we are very pleased with their courteous approach to clients. Coffee is a household name in Nigeria, what makes yours different? Nigerians are sophisticated people. When they see quality, when a product tastes quality, they know it; I think they will have an appreciation for quality. I have personally researched other coffee being brought into Nigeria and I know based on the types of coffee and where they are coming from. But ours are distinct; and they are called single urging coffee because they are blended from single urging - that means all of our beans coffee come from Brazil. It comes from a specific region in Brazil; it’s not from multiple farms put together, we only serve single urging coffee. The reason is because single urging coffee from one form is a superior blende coffees; blended coffee are the most common ways to serve because it’s the cheapest and best. What distinct your coffee from others? Our quality is different because of the beans that we choose and foundation matters. If you begin with a poor quality, you can’t have an end product; we have a very strong foundation type of beans. When we roast the coffee, we serve our customers coffee which has been roasted for at least 14 days and that will be freshest coffee available; you can’t see or get that kind of coffee in any coffee house and this is important. How fresh are they compared to those in grocery stores? When you go to a coffee house or a grocery store and you buy coffee, they may have been roasted six months, a year or may be two years ago. You don’t even know and when you buy coffee in a restaurant around town, that coffee may be probably old; but the fresher the better, because coffee loses its flavour after 14 days. We only serve our customers roasted coffee, not

Payne

more than 14 days and this is the best coffee around.

Coffee is the second most trading commodity in the world after oil. Coffee business is stable and there is no question about it because it is a strong business

We have many cities in Nigeria, why is Abuja your choice? I think it was really a decision based on convenience of our investor, the master franchise. They own the right for classic rock coffee all over Nigeria. So, the person who owns this store don’t only own the store, he owns the right to put the store in all other places in Nigeria. What they wanted to do is to put additional stores themselves in other cities where other investors can come to them and express interest. They can put the coffee shop in Lagos. Our master franchise is here and has the decision whether to allow them to do that, because they control the brand in Nigeria. So the decision to put it in Abuja really has to do with convenience because the master franchise lives here and they want to put the store where they live so that they can visit at all time to watch over and ensure that everything is working properly, and this is where they started. What is the relationship between coffee and classic rock music? Coffee is the second most trading commodity in the world after oil. Coffee business is stable and there is no question about it because it is a strong business. Specifically, any coffee house you go all over the world look the same - same colour, music, feel and so what we decided was ‘we are going to do a coffee brand.’ We wanted to do something different, not do something everybody else does. To distinct

What other menu do you serve here to complement all of these? Here in Nigeria and in other parts of the world, it is not so strong in the food side, but it is primarily coffee. In our coffee house in America, we sell small part food menu; we have a traditional coffee menu like smoothies, shakes, cocktails and limited food menus, but in Nigeria, we have to make a strategic decision because there is no coffee market. We have to create that market and introduce people to different types of coffee and let them begin to have an appreciation for coffee other than Nescafe. When they start drinking real coffee, they will start adapting to that. We are doing it from a business point of view to sustain the business while we grow the coffee market and to introduce high quality food, which is outstanding. Tell us about your price. Our prices are outstanding and determined by the franchise. Like in the United States, we have a set price we charge compared to other countries. We have the best so far, but the people don’t know it yet; take for example, Alarte is steamed milk, which will take away the coffee flavour for those who are not used to a lot of coffee. So, on the price itself, the master franchise who lives here determines the prices. It is a higher coffee house, so it is not going to be the same price as the Nescafe product. You can’t compare an expensive meat with a little piece of meat, we don’t want to be in the middle of the road, we want to be accessible for mobile workers, working class people and even students who like coffee; and the prices are affordable, and couples of people who come around never complain about the prices.

Business | Money

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

How banks are driving marketing via the web gencies are attended. Such issues as social media enquiries; criticisms are ventilated on these platforms. There is hardly any bank that has not generated one product that is Internet driven. Never mind that a lot of copycatting is going on in the system.

Godson Ikoro

igerian lenders are increasingly stepping up their online banking platforms on the worldwide web. A plethora of evidence abound that the new competition has been moved to the web, and lenders have come to the realisation more than ever before that information and communication technology has become the game changer as the nation transforms its payment systems to electronic. Lenders are retooling their banking software and updating their websites to be more user friendly, while ensuring their banking software are modern, robust and dynamic enough to deliver at all times, 24/7 worldclass services to their customers. No lender is happy whenever any of its branches’ networks is down because of links to other branches and other technical knots. Ordinarily, online banking is often defined as an electronic payment system that enables customers of a financial institution conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank or credit union. Online banking is synonymous with Internet banking, e-banking and virtual banking. In the beginning Ever since online services started in New York in 1981 when four of the city’s major banks, Citibank, Chase Manhattan, Chemical and Manufacturers Hanover, offered home banking services, using the videotext system, online banking has evolved and taken the centre stage of banking profession. According to Wikipedia, when the clicks and bricks euphoria hit the late 1990s, many banks began to view web-based banking as a strategic imperative. The attraction of banks to online banking are fairly obvious: diminished transaction costs, easier integration of services, interactive marketing abilities and other benefits that boost customer base and profit margins. Every bank is now concerned with how rugged and efficient its banking software functions. Sterling Bank For instance, the Managing Director and Chief Executive of Sterling Bank Plc, Mr. Yemi Adeola recently said that the bank was retooling its banking software – the pinnacle, moving to the highest version within 12 to 18 months. He said the bank was ready to invest an undisclosed amount on the project. But the whole essence is to equip the bank to be more robust and demonstrate capacity to take on more complex jobs; making it more athletic and have the shortest response time. Access Bank Also, Access Bank Plc is deploying part of its Right Issue proceeds to update its banking software and all that matters to

Sterling Bank, MD, Yemi Adeola

First Bank, MD, Bisi Onasanya

ICT. Union Bank Similarly, other lenders such as Union Bank of Nigeria Plc, started Flexcube upgrade in 2013, and by now, it have finished the upgrade. This must have been responsible for why the bank won the award as the best website user friendly. First Bank First Bank of Nigeria Plc has also upgraded its IT, leading to its winning the best e-banking award in recognition of its leadership in the growth and development of electronic payment solutions in Nigeria. Other lenders have equally demonstrated their web banking activities consciousness. Today on the Internet and various social media platforms, many banks have deployed marketing communications to inform and educate, re-enforce, maintain, remind and alter opinions and attitudes, manipulate and persuade, induce the trial of their products and services. Banks are increasingly invading peoples e-mails, with their well-packaged images, motivating prospects to make enquires and encourage repurchase on continuous basis. According to Dr. Ken Onyeali Ikpe, an expert in Marketing Communications, brand equity and consumer behavior, all these efforts are chiefly to help sell bank products and services as marketing communication process is ultimately used to move a product to assume the status of a brand. The competition Specifically, banks have deployed their marketing communication strategies to create awareness at both corporate and brand level. Increasingly, they are bundling more services into single packages, thereby luring customers and minimising their overhead. Although the banking public was initially hesitant to conduct monetary transactions on the

The new competition is being fought and won on the web, hence, technology will determine how lenders compete and the extent they will dominate the sector

web, it took the cashless policy, the transformation of the payment systems, and the ubiquity of and usage of many smart phones for those that are IT -savvy to adopt online banking. Commenting on the burgeoning universality of online banking, a banker told New Telegraph on the condition of anonymity that the banks had a way of forcing the electronic banking or online banking on particularly new customers. The source said, “In almost every bank you visit today, when a new customer is opening an account, he is automatically given an ATM card and online banking details, whether savings or current account and the bank in question will manage the relationship until the customer starts using both the ATM and online banking to do whatever that would have brought him to the banking hall, from the comfort of his bedroom. That is where banks are facing to earn more fees given that the COT will soon be phased out.” The banker believes that web banking is where all banks are focusing to sell bonds, buy up rights among others and launch their products. He also predicted that in less than 10 years from now, Nigeria would have many of its lenders as Internet only banks. In what he called bank without borders, these Internet only banks, will no longer maintain brick and mortar bank branches. Rather, they will typically differentiate themselves by offering better interest rates and more extensive online banking futures. Worldwide web syndrome The attitude of Nigerian banks has drastically changed from using the web as another brochure where they simply put up advertisement of their services without interaction with the customers. But these days, a bank can go the whole hug to ensure that its website is user-friendly and easily accessible. The fad now is for banks to set up their ICT centres where complaints, enquiries and emer-

Why the blossom? Given the market risks facing the banks in the form that their future fair value or cash flow of financial instruments will be adversely affected by changes in market places such as interest rates, foreign exchange and commodity prices, online banking has come to the rescue. Banks are seeking to make profits from their web presence. Web marketing are intentionally built to facilitate easy cheap or free communication, payment of extremely low amount of money for tools that ordinarily would have cost a fortune if done offline. Security Banks received top security certifications soon after the CBN warned that banks should protect their online banking systems against the activities of fraudsters. Identity theft For the fact that the web craze is gaining momentum among banks and other financial institutions, fraudsters are also following on the heels of the banks to devise various strategies to clone almost all the websites of the banks. Even with constant warnings from the lenders to customers not to disclose their PIN (Personal Identification Numbers), a lot of people are still falling prey to the expertise of the hackers who specialise in opening their own websites with similar names and logo of banks. This development is one that is still scaring most Nigerians from embracing the culture of ebanking despite the comfort and ease of doing business it offers. In most cases, the fraudsters also go ahead to clone the email addresses, Facebook, Twitter and social media accounts of some prominent bank chiefs all in a bid to hoodwink unsuspecting members of the public into parting with their security information. A case in point was that of the Deputy Governor, Economic Policy and Directorate, CBN, Mrs. Sarah Alade, whose name was recently used in opening a Facebook account, which the apex bank swiftly denied belonged to her. As bad as the situation appears at this moment, it is, however, believed that with more awareness campaign from the banks to the public and installation of improved software, various fraud associated with the system will either be eliminated or extensively curtailed. Conclusion The new competition is being fought and won on the web, hence, technology will determine how lenders compete and the extent they will dominate the sector.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

MY CITY, MY WORLD

LIFE IN THE CITY

Lagos is far better today

Seme border: Filthy gateway to Nigeria

A section of Ojota link bridge

Dangerous bridges Safety of the citizenry is one of the pre-occupations of any government in any sane environment. To achieve this, amidst some other responsibilities, is to make commuting an integral part of the fundamental rights of humans, within a geographical definition seamlessly safe. Mega City undertook a tour to examine the state of some of the bridges last week; the report of the discovery and the expectations of a handful of commuters is presented by ELIJAH SAMUEL, EZEKIEL ADESAWE and RUTH OKOCHA

hether on the land, on the water or even in the air, mechanisms are provided to enhance safe and easy commuting. On the land, among several others, such mechanisms include bridges, which make walking, driving, riding,

OLUWATOSIN OMONIYI CO-ORDINATOR

tosin.omoniyi@newtelegraphonline.com

ÂŠ Daily Telegraph Publishing Company Limited

crossing etc. safe and easy for commuters. Apparently, bridges play great importance in diverse communities of human settlement. But in an ever-growing dense population like the cosmopolitan Lagos city, they are even of greater importance. But how safe are the few motor bridges which have been provided across the state. These bridges, whose ages are over four decades, are not too many in Lagos when compared to counterpart cities of the world. Obviously, they have been provided to satisfy the need of the time: the dense socio-economic activities of the present kind in the megacity Lagos were never in prospect. Nonetheless, some of those bridges have been constructed with protective provisions like the pedestrian walk-way, railings and light poles to offer safety while using them. But a close observation made by

New Telegraph of some of the bridges across the state did not only reveal their feeble state, but also vividly put across their potentials for calamity. A walk on the Carter Bridge, one of the three bridges that connect the island and the mainland of Lagos, exposed the lurking danger on that bridge: most of the railings that are meant to offer protection to pedestrian on both sides of the bridge are missing. Apart from the discovery that most of the railings were equally missing, the asphalt surface worn out, or intersections gapping apart, there seems to be vibrations as most of the bridges were traversed by users. Now, as the bridges are one

of the means through which drivers and pedestrians commute on land and connect different points that are either demarcated by water, and for its significance in easing the complication of the complex road network and hectic traffic situation, users are concerned about the safety of these bridges. The bridge linking Ojota to Maryland is one of the popular bridges that need governmentâ&#x20AC;&#x2122;s urgent attention. With the current state of the bridge, characterised by potholes and patched parts as well as missing railings and barriers which play an important role in preventing and mitigating crashes CONTINUED ON PAGE 27

Life | In The City

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Making money from keep-fit buffs Elijah Samuel

ike little drops of water that overtime, accumulate to make mighty ocean; they had in trickles converged for the common goal of keeping fit. Today, the swarming number of fitness trainees attracts great attention in Ire-Akari and Ago communities of Isolo Local Government Area. Their league cuts across boundary and strata: business executives, house wives, students, sport men and ladies etc. They are part of the fitness enthusiasts whose hearts are seared with avowed devotion to keeping fit and imbibing best healthy practices that promise to enhance their physical wellbeing. Obviously, many leave their various residences as early as 4.30/ 5am to come to their chosen arena of training- Ibe Road, a dual carriage way that connects Ire-Akari community of Isolo to Ago, another community of the vast Isolo landscape for different forms of exercise jogging, aerobics and cycling which are intended to achieve fitness and enhance their overall healthy living. But as the New Telegraph observed, the seemingly laudable beneficial health ventures are being conducted in the midst of danger as the area was not lit. Incidentally, it was around this area that Dimgba Igwe, a veteran journalist of repute and Vice Chairman of The Sun Publishing Limited, was killed in September, 2014 by an unknown driver while jogging. Perhaps, it was under same unsafe condition that the present crops of fitness trainees are practicing their passion that he was killed. Nobody can actually say. Although Ibe Road is very well tarred, at the time of New Telegraph visited to the area at early dawn, save for the flashes of light from the head lamps of speeding vehicles that equally shared the ‘training arena’ with the stream of joggers during the time, the whole length of the road was thrown into total darkness as the street lights, which had been provided to offer complementing illumination on that corridor were not powered. This apparently portends great risk. In spite of the lurking danger, the trainees seemed not to be bothered, as they revealed their different reasons and prospects of what they consider as highly beneficial to staying healthily alive. Teddy Zazza, a dealer who sells vehicle spare parts, said: “I’m here for fitness training: because I go to work during the weekdays, I come around here every Saturday and Sunday to do exercise after which I go back to my house.” But why must he come around there to do exercise? “Because of the smoothness of the road, it’s good for exercise. Exercising myself has really kept me fit,” Zazza replied. Emeka Samuel Nwachukwu, who has been a professional footballer for six years, joined the IreAkari club of joggers over one and half years ago. He believes the

Different sections of trainees at Ire-Akari, Isolo, Lagos

reason the club of joggers keeps expanding is the fact that “many are getting conscious about their health status, hence the need to get involved and burn off useless fat in their bodies. “I usually leave my house in Ago to the National Stadium Surulere to do training after which I will join them in this place to continue my training.” “Why most people consider that early hour of the day for training is because of the coolness of that time. Although we know that some vehicles pass along during that time, what we try to do is only try to dodge them,” Nwachukwu disclosed. Yet, another trainee is Nkiruka Sunday, a trader and mother of four, who, for barrage of distasteful remarks from friends and relatives and health challenges which her size attracted, was moved to seeking relief in exercising and aerobics in order to lose weight and keep fit. She said: “The problem that made me go into exercising is that I was so fat to the extent that people were commenting about my size. Apart from this, it was always difficult for me climbing the stair case because I was living on the first floor. I would be panting as if I wanted to faint because of stress. I was so lazy that I could not do anything. Because of these, I decided that I should be coming out for exercise. “At the first time,” she added, “it wasn’t easy but I kept on encouraging myself that I can do it. Some people actually came to discourage me that they have done it for years that it wasn’t working. But I stood my ground that I had to follow my mind and do what I felt would help me in taking the weight off me. I live at the last bus stop of Ago. From there, I jog down to this place and still do some rounds of jogging before

In spite of the lurking danger, the trainees seemed not to be bothered, as they revealed their different reasons and prospects of what they consider as highly beneficial to staying healthily alive

joining aerobics session. “It’s a little over a year that I have consistently been engaged in exercising, and I tell you that from size 24, I can now wear 14 without drugs but through only jogging Monday to Saturday every week. But my target is size 8 top and 12 down.” Brimming with smiles, apparently for her gains, she told New Telegraph: “I’m happy with myself when I look in the mirror and see what I look like. My husband now proudly tells people that ‘If you see my wife now, she’s fit and sweet. For this, I’m happy for myself. People who have seen me for a long time now easily notice the tremendous change in me. They scream and ask whether something happened to me that made me lose weight. I boldly tell them that it’s the effect of sustained exercise that I have engaged in for over a year. It’s all about discipline and watching what one eats. “It’s genetic because my siblings, whether male or female, are all of big sizes. But I tell you that it has been of immense benefits: I’m fit, the former pains associated with my heavy weight are gone and my disgraceful habit of snoring while sleeping has ceased.” Ikechukwu Ebuka, a 13 yearold JSS 3 student, who has a lofty dream of being a professional footballer, had for the goal of attaining excellence in his envisioned career joined the bandwagon of fitness trainees. “I started coming to this group of trainees since April last year because I want to have stamina and speed in the field of football play. I come only on Saturday because I go to school during the weekdays. “I’m in a Dynamite Football Club; I have been able to achieve speed on the field through my engagement in this exercise and I don’t intend to stop any time soon. My relatives all support me in

what I do”, Ebuka proudly stated. Nelson Ilemuzor is a banker, who joined the club for the sole aim of easing off the inherent stress associated with his marketing portfolio. To him, the sight of other trainees keeps him motivated in fitness training, and the gain of the training will never be traded for anything as this also keeps him going through the streams of stress that is inherent in his kind of job. He disclosed: “What prompted me into exercising is to keep me constantly energetic and keep fit because, according to health experts, exercise keeps the body healthy. “I live very close in this community but I come every weekend to train. The reason for my coming around here is to keep being motivated by the company of other trainees. When I see people doing it, I get motivated to do it and even do it more. It has really kept me healthy; and I feel within me that a lot of stress is being taken off. “It has really paid off: my friends look at me and why the stress of meeting up with target is not reflecting on me. I tell them the secret is in exercising to take off stress. This is what I do every weekend which gets me set for the challenge of another week. By the time I resume on Mondays, I’m just like a baby that does not have anything to think about.” And for whatever the risk might be, Ilemuzor responded: “there is always a risk in everything that we do. If I can wake up and set out to work on the Island as early as 5.30am, what will stop me not to come out for exercise as early as possible? There is no place that we are in the world that there is no risk. There is a proverb that says that we know that we are going to die doesn’t mean we are not going to sleep.”

Life | In The City

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

CO NTINUED FROM PAG E 25

on the bridge, it is “unsafe” as most users of the bridge have described. When New Telegraph arrived at the Ojota bridge linking Maryland to Ojota, it was discovered that the potholes present on this bridge are capable of causing accidents, even as they endanger the lives of the occupants of the vehicles and pedestrians walking on the pedestrian section of the bridge. Also, the railings and barriers which are supposed to protect the vehicles from falling off the bridge on the road in case of reckless driving that may result in accidents are missing, little wonder why the accident rates on some of the bridges are high. Also, the reporters visited the bridge at Jibowu, and observed that the bridge is not palatable for vehicles because the bridge, just like the Ojota Bridge, has several railings missing from it and also dangerous potholes characterizing the bridge can cause the tires of a vehicle to pull off while on speed and also make a vehicle to somersault. One keeps wondering what effort the government has made in repairing these over used bridges for the safety of Nigerians. A few of the bridge users spoke to New Telegraph. According to Uche Chikere, a civil servant, the bridge is very old and some of these bridges have over the years deteriorated to what they are today. Unfortunately, government has refused to look into it for repair and maintenance. Wale Ogedengbe, said most of the bridges need repair and that the missing railings should be fixed soonest to avert death on them. He therefore called on the government to respond promptly. He went further to say he has been using the bridges for some years now and there is hardly any maintenance done on the bridges. The students were not left out in the assessment of the state of Lagos’ bridges. Many students, who school in the Maryland axis find the usefulness of the Ojota bridge inalienable as they use this bridge back to their various homes. These students troop everyday in their huge numbers after school hours when walking through the bridge. New Tele-

Waiting for government’s attention

Bridge linking Jibowu to Ojuelegba

graph spoke to some of the students on their way back from school, and it was discovered that they are left with no better option, hence the daily use of the bridge. Odewunmi Deborah, an SS1 student of Immaculate Senior High School described the bridge as very unsafe, dirty and dangerous, saying “we only take this bridge because the other side we would have taken is worse than this side. So, we have no other option of going home except we use this bridge. We get scared and we are always very careful whenever we get to this bridge. Sometimes, last year, someone was pushed off the bridge into the water. Ever since, we are very careful of this bridge; we call on the government to help us construct the railings so that none of us will fall off the bridge.” Balikis Jokosenumi, an SS2 student of Mende Senior High School said, “the situation of the bridge can be blamed on the government. Although, I have not started paying tax, my parents pay their taxes regularly. Because of this, I expect the government to have us in mind by building the railings and barriers again on this bridge. It’s just too unsafe for students;

A lady standing by the fallen rail at Apongbon

we go through this bridge everyday; if there is any other way, we would have taken it. But this is the only way home. I tell you this is how we risk our lives every day.” Two students from Yaba College of Technology, who were incidentally passing by, at the time of the visit to the bridge by New Telegraph, called for a better approach to the handling of the bridges. One of them, Ose

Some of these bridges have, over the years, deteriorated to what they are today

A dirt-blocked hole on Ojota bridge

A manhole on Carter bridge

Eugene, said he is in his second year in the school and regularly uses the bridge, though he attested to the fact that the bridge needs repairs. He concluded by saying he is used to it being damaged. The other student, Franklin Maduka, who is also a second year student, said the same as his schoolmate. They also called on the government to make amends to ensure the safety of individuals.

Life | Mega City

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Filthy gateway to Nigeria Seme border in Badagry Local Government Area of Lagos State ought to be an environment that radiates ambience of vividness, and ‘good people, good nation’. Rather than that, to a foreigner at the border, it portrays Nigeria and Lagos state as a nation and state that enjoy dirtiness, as EZURIKE UGOCHUKWU reports Seme entrance gate

ven some mentally deranged persons, hardly would one know superficially they are deranged in any form. They dress decently more than some sane ones. Organisations, societies and countries have one form of problem, threats, and one challenge or the other under cover. All birds the popular adage says, are lying on their belly; hardly would one identify the one with a stomach ache. Seme border, the border community between Nigeria and her neighbor, Benin Republic, is being enmeshed with refuse, right, left and centre, especially at the centre embankment of the road. This is a source of worry and eye sore to many. The giant of Africa and the most populous black nation in the world to a first-comer, from the border country- Cotonou, would need not any asking to conclude that the people living in this part of the world are dirty people, people that attach little or no importance to their personal hygiene. The issue of sachet water proofs that litter every nook and cranny is no longer an issue to emphasis much on. The mountain heap of refuse right at the entrance gate of the country gives a discerning mind a cause to worry. Report has it that at times, the refuse grows so high and eventually impede vehicular movement on that major highway. The refuse dumps at the guarded railed centre embankment of the road are in more than three points, and at about 400metres intervals. All the adjourning stunted streets in the area have one stinking refuse dump at its entrance, oozing out some odour that always envelope the area. Though, the living pattern in the border is typical of life in slums. According to residents, the government has no interest in developing the environment. The

government believes as a border territory, people are not supposed to reside there. The economic scourge in the country has made the people to find succour in the area; since their daily bread could be sourced from there. The living pattern is nothing to write home about. Most people prefer to defecate in the bush, not minding the few public toilets built around them, without water facilities though. The world today is a village. A disease outbreak in an unknown ghetto could consume the whole world. According to some indigenes, the practice of burning seized chickens in the area has posed another great danger to the health of the residents of the town. The pollution prompted by such burning, could linger for weeks. “The dirty here use to scatter and fly all corners especially whenever there is much breeze. It falls on goods, houses and we human beings around here. It causes accident between Okada and vehicles, whenever it blocks the view of a driver. We have no other place given to us to keep our dirt. That is why we prefer this centre of the road. In fact, every corner of this place is a refuse dump.” The above was the view of Mr Yisa Abdulahi, a trader around the Seme border gate. Mr. Abayomi Gabriel has a shop along the Nigerian end of the border town. He explained that, it’s like this border is not part of Nigeria. Government is not encouraging people to live around here. That could have been attributed to the mirage of reasons why they neglected here. As a border post, people reside here to tap into some business opportunities that go with movement of people in and out of the border. “The Lagos Waste Management Agency (LAWMA) people come here sparingly. It’s like they come once or twice a month, that is why at times you see refuse swell up and take over this centre embankment of the road and into the highway.

The body language of the government shows like they don’t want us to reside here. We have electric poles with wires laid all the corners but you cannot believe we saw light here last over seven years ago,” he said. Even in the present circumstance, Jude Adigwe, a trader at the border, and a lady seamstress that refused to give her name are of the assertion that the LAWMA trucks have recently improved on the number of days they come to evacuate the refuse. Adigwe said,“The environment and people around contribute to the heap of refuse you see here. The Beninese contribute also to the filthiness of this environment. 70 per cent of the people that sale pure water(sachet water) here, are Beninese. Things are done here with reckless abandon, though there are many public toilets around here. Most of the dump sites within the streets are abandoned or uncompleted houses. To me, it’s not supposed to be so. Only the owners know why they allowed such to continue. The displeasure of most residents of the area could not be hidden or glossed over. The environmental degradation and unregulated movement of people in the community call for concern. They believe there is nothing to justify the huge revenue they pay annually. While some believe the press men should use their platform to tell the world the rot in the area rather than collude with the Local Government Authority. A member of the National Union of Road Transport Union, who spoke unanimously, said, “We are not to permitted to speak to journalists without approval. You pressmen know what you ought to do. You have seen it all. What do you want to hear from us? You want us to indict the local government that has kept us here? If you see something, go ahead and say it. That was the type of Journalism people like Late Dele Giwa practiced. The whole of this border stinks. There is no proper attention

to this place.” Mr.Chukwudi Okeke, an auto parts dealer at the border area, cried as he said, “We pay heavily. The messy environment here could cause epidemic. Look at this place, an entrance into the giant of Africa and the Mega City State, Lagos. Once you enter Nigeria, you will be forced to close your nose and same time, look the other way because the scene you may behold could be unthinkable. If not human waste on the right, it could be other forms of waste at the left. This centre of the road is supposed to be decorated with flowers and street light to tell you that you are inside a big country and city of Lagos, the former capital of Nigeria. “What has taken over this centre embankment is nonsense that tower high daily. The revenue we pay, we do not know what they use it for. Last time some LAWMA officials came and asked us to pay N200, though that payment never continued. Electricity is a thing of the past as such unthinkable.” Baring his mind, the Palace Secretary of the Baale of Pengbo Badagry Community, Mr. Samuel Adome said, “on the refuse issue, some time ago, the Commissioner for Rural Development came around here, the treat indiscriminate refuse dumping pose to the life of people around here was raised. He promised that some of the LAWMA refuse trucks will be used regularly here. They came one or two times, they started exploiting the people, and we cried out against that. The Baale of Pengbo Community, Kweme Sea Beach of Badagry, Chief Ayeleso Ganjo, was so enraged over the activates of immigrants in the area. He said, “The immigrants from neighbouring countries have messed this place up. They constitute the greatest nuisance here. And our Immigration has refused to act. They fish and reside on land nobody gave them.”

Life | In The City

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Fighting over posters

Political posters on display

Muritala Ayinla

s politicians are struggling for any available space to paste campaign posters in Lagos, indications have emerged that there may be no hiding place for officials of the Lagos State Signage and Advertising Agency (LASAA) if they go ahead to carry out order to immediately remove all President Goodluck Jonathan’s campaign materials illegally deployed on street lamp poles in the state. New Telegraph learnt that LASAA and PDP may have their days in courts, even after the general elections, following series litigations that may arise as a result of the face off over removal and replacement of adverts and campaign materials on Lagos roads. The state government had argued that it has the right regulate the placement advertisement on any road in the state regardless of whether the roads belong to the federal or state government. But the opposition party, PDP leadership in the state, who accused the state LASAA of being partial, argued that the state government has no control over federal roads. The Managing Director of LASAA, Mr. George Noah is in utter disregard of earlier warnings by the state

Commissioner of Police, Mr. Kayode Aderanti, that policemen would arrest and deal decisively with employees of the agency that attempted to remove any billboard or poster of candidates of political parties. New Telegraph learnt that the Lagos police command had already directed its Divisional Police Officers not to provide security for the LASAA staff when they are going out to remove political campaign poster and had also gone ahead to withdraw all policemen attached to the agency. Undeterred by the threat posed by the decision of the state police command, the Managing Director, Lagos State Signage and Advertising Agency(LASAA) Mr. George Noah on Wednesday said if TAN failed to heed the order, its enforcement team would remove the posters in line with the enabling law setting up the Lagos State and Advertising Agency Noah who accused the party of illegally removing the adverts campaign of the firms and replaced with President Jonathan’s posters and banners, said firms whose advert materials were replaced have lost N350 million to the removal. He stated that the contracts had been terminated as a result of the parallel and illegal deployment of

Jonathan campaign materials on poles paid for by these advertisers. According to him,“The two advertisers in question are Chinese Telecoms firm, Huawei and Globacom and the outdoor agencies affected are Touch Point Limited and Clearedge Limited. Both agencies have lost a whooping N350 million. “The illegal and brazen act by agents of the PDP is unjust, inconsiderate and therefore unacceptable at a time outdoor advertising is facing stiff competition from television, radio and social media “The illegal act by the agents of the PDP is capable of destroying outdoor agencies in our State. It will almost certainly leads to layoff of workers and loss of revenue for our stakeholders,” he stated. He said the agency was constrained by recent developments in the electioneering campaign in Lagos to bring to the fore impunity and ille g ality that posed immeasurable and long ter m damage to those who erect, operate and maintain billboards in the state. Noah said the agency had been informed that in the last 48 hours, two advertisers in the outdoor sector had terminated multi-million naira contracts with outdoor agen-

LASAA hereby directs the Transformation Ambassador of Nigeria and its affiliates to remove all campaign materials illegally deployed on street lamp poles in Lagos State immediately

cies registered by LASAA to operate in the state. Noah added that in line with the agency’s statutory functions to regulate and control outdoor in Lagos, “LASAA hereby directs the Transformation Ambassador of Nigeria and its affiliates to remove all campaign materials illegally deployed on street lamp poles in Lagos State immediately, failing which our enforcement team will remove same in line with the enabling law setting up LASAA.” He also alleged that the PDP agents had been removing the advert materials of Glo on poles which the telecom company paid in a bit to replace them with Jonathan’s posters. Noah further alleged that the PDP had deployed policemen wherever these impunities were taken place to give them cover and safeguard their illegal act, adding that the police authorities had withdrawn the policemen attached to the agency to assist it in enforcing illegality in the outdoor industry. “What they have done is to withdraw the policemen attached to us. They are using the police to fester an illegal act. They are coming to Lagos to disrupt the outdoor business worth about N50 billion and employs about 100,000 people. They have transferred all sorts of people to Lagos State to do their dirty jobs. It is one illegality gone too far,” he said.

Life | Local Government Watch

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Lagosians react to fuel price cut The reduction of fuel pump price comes with mixed feelings. So, it seems, especially as most fuel stations are reluctant to comply with the new price. Some station managers argue that the Federal Government still owes their fuel marketers some dues; hence they cannot comply swiftly with the new price. While they argue that consumers on the other hand are totally not appreciative of the new price, they feel that Federal Government could do better than that. EZEKIEL ADESAWE, RUTH OKOCHA, Esther Albert and TEMITAYO ABASS bring the mood of the people

t’s a welcome development for the federal government to reduce the fuel price from N97 to N87Ikpeama Rex Well, I think it is one of government’s ways to help us. If it remains like this or goes down, that will be great though- Emmanuel Atuma According to Yusuf Ibrahim, the reduction of the fuel price is a good development. But for those that are not selling it at the new price,is because they have already bought the fuel when it was at the rate of N97 meaning that they cannot sell it at the rate of N87 so that they would not fall short of profit. “I urge the government to reduce it to a lower price that would be affordable for everybody,” he said. Olamilekan Wasiu The fuel pump reduction is one of the best things that have happened to Nigerians. I am very happy with the reduction of the fuel price because I know that our country is gradually improving and getting convenient for citizens. Those filling stations that are still selling it for the old price should be arrested and reprimanded so that they can abide by the rule,” he said. Not bad, though I think the government can do better. Even though some people say it’s politically inclined, I don’t really know. I am just grateful I can buy it at N10 less. I also observed that despite the fact that fuel price has reduced, the price of commodities still remain the same. I also want to use this medium to plead with the government to look into the price of diesel and kerosene which is still on the high side-Abimbola Daramola Nayon Amosun Auditor with price Water Corporation says it is rubbish. He believes it’s politically motivated, as such, could change anytime. Look at the way it was announced just a broadcast and they expect everyone to comply? Not possible. Chidozie Amajuoyi Is a business man, “it is a welcome development and I believe the government did well. I hope they can reduce it more in future.

Rex Ikpeama

Saheed Mohammed

Nayon Gbenga Amosu

Abimbola Daramola

The reason the N10.00 reduction does not affect the price of anything is because of the mentality of Nigerians and not the government”. Azzez Bashiru Talked about the fuel price saying it should have been deducted since last year October, not few weeks to the election because for now it cannot make any impact. He also said the deduction should have been lower than it is. Our leaders are not sincere with us. He said the deduction is because they need people to support their government again.

Azeez Bashiru

Isaac Umunah

Emeka Osuagwu

Emmanuel Atuma Enusu

Uwagboe Gary

Saheed Mohammed Politician described the reduction of fuel price as being sincere. He said the reduction does not change anything because N10 is not significant. Even if there will be a reduction, it should go back to the fixed price of N57. Emeka Osuagwu Atransporter thinks the reduction is not bad, but the price should have been deducted lower than that, because the crude oil has gone down for the international market which the estimation shouldn’t be more than N60 per litre. He feels it is not political that a sincere decision of the

Federal Government. Isaac Umunah Is a dispatcher said it is a welcomed development, because in Nigeria it is very difficult for a price of something to go up and later brought down. Though he said Jonathan would be the second leader to bring the price of fuel down, he said though reduction is not easy because it has to take the committee to seat for a meeting and make agreement and finally he said he would be very happy if the price would be brought down more, because our country is the largest oil of producing country. Anonymous Manager of a

fuel station says “we don’t like it but have no option but to comply. Our station lost about five N500, 000.00 as soon as the pronouncement was made. The government never consulted us before the changes were made. They didn’t consult the marketers. If they had consulted us, we won’t have grudges over this increment on the government but on the marketers for selling to us at N97:00 when the price has actually being reduced by N10:00. It is not as if we are against the reduction but I feel the government should have allowed us empty our previous stock and buy new stock at the new price before implementing the new price.

Lawmaker preaches non-violent poll Muritala Ayinla

awmaker representing the Lagos East Senatorial District, Senator Gbenga Ashafa has appealed to the Lagos residents to desist from violence regardless of their party affiliations. Ashafa spoke while addressing hundreds of Community Development Committee and Community Development Associations leaders across the Lagos East Senatorial District, saying Lagos State would

continue to experience progress and development if the residents could continue to maintain and sustain peaceful co existent. He said:” Please get you Permanent Voters Cards and vote for All Progressive Congress candidates in the coming elections. We have been with you always. We are not the kind of person who comes to meet you once in four years. That is not our style of governance and leadership. Please, I must remind you that we can have a violent free elections. Don’t forget that you

may have relatives who may belong to other party. Will you say because the person doesn’t belong to your party and wish him dead? Will you kill or maim somebody just because he doesn’t belong to your party?” Noting that though his constitutional roles was to make law at the upper chamber of the National Assembly, Ashafa promised to rehabilitate more roads and embark on many constituency projects if elected for the second term in office, assuring the community leaders to preach peace among their

neighbours. He also assured that he would incorporate the Community Development Associations members in his empowerment programmes where over 150,000 residents had benefitted in the last four years. The state Public Relations Officer of the CDA Mr Ajijedidun Adebisi, pledged to preach peach at various communities,saying that they would appeal to parent to warn their wards against formenting trouble during and after elections.

Life | In The City

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Fashola: Policemen to be neutral while on duty

My City, My World

‘Lagos is far better today’ Elijah Samuel benga Bello, an acGgyman, countant cum clerenthusiasti-

L-R: Chairman, House Committee on Science & Technology, Hon. Wahab Alawiye-King, Commissioner for Science and Technology, Mr. Mabadeje Adebiyi, Lagos State Governor, Mr. Babatunde Fashola, SAN, Mr. Kayode Aderanti and Permanent Secretary, Ministry of Science & Technology, Mrs. Nike Animashaun during the handing over of ICT Resource Centres in Nigeria Police Stations in Lagos State at the Police Area C Command, Funsho Williams Avenue, Surulere

ov. Babatunde Fashola has urged policemen in the state to owe their allegiance to the law and the people of Lagos State alone. Fashola gave the advice on Monday during the handing over of an ICT Resource Centre at the Area C, Police Station, Surulere, Lagos. The governor said that while policemen and their families were entitled to vote during the elections, they must remain neutral when on duty. ``Let me remind you that you are policemen to the people of Lagos. ``Because it is important to make this point, especially as you prepare for elections and as we seek to have a violence-free election that is very important. ``The elections will have no meaning if we lose lives in the process because democracy is actually supposed to respond to peoples’ needs not to take their lives. ``So, let me remind you that whatever sentiments you have, you are entitled to vote, so are members of your family.

``But remember that once you wear this uniform, you are not policemen to the APC and you are not policemen to the PDP, you are policemen to the people of Lagos. ``Do your jobs according to the law and may God help you as you do so.’’ Fashola also used the opportunity to express the gratitude of the government and the people of the state at the way and manner the police had carried out their duties. He stressed that the ICT centres were to aid in the quick delivery of justice. The governor said that the police must ensure that their environment was kept clean and free of objects that were usually scattered in their premises. “All over the world, where I have seen police stations, they are very clean environments and I believe that the environment in which people do their work also reflects the way, their attitudes and the way they see themselves. “And we want you to work in a very clean and appropriate en-

vironment that boosts your own personal self-esteem and makes you feel happy if you come to do your work. ``But in addition to that, what we have seen over the past years is that in the process of either, even just dealing with simple accident cases where there is no fatality, we keep the vehicles that that are accidented. ``Over time their value depreciates; over time their owners lose interest in them. ``In the event what do we do? We auction them but it was just an accident and in all the time that I practiced in court, I can’t recall one case in which those vehicles were brought to court as exhibits. ``So, the question we have asked is that why are we keeping them?’’ In his remarks, the Commissioner of Police in the state, Mr Kayode Aderanti, thanked the Lagos State Government for its contributions to the police in the state. He said that the ICT centres would aid in the delivery of justice in the state.

Athletes battle for honours at Ibile Games 2015 Charles Ogundiya

thletes participating at the Lagos State Secondary Schools Sports Festival tagged Ibile Games 2015 which commenced on Monday in Lagos have declared their readiness for the tournament. One of the athletes who will be on parade at the competition, Awotoye Bukola, a 10-year-old Chess player from Shining Lord’s Schools, Apapa, Lagos, who started playing the game when she

was seven years old, said that she has prepared very well for the tourney. “Participating in championship such as this is not new to me because I have won many laurels for Lagos State at different time both at National Schools Sports Festival and the last Ibile Games. “For me to achieve my dream as Chess world champion someday, tournament like this would really help me,” said Awotoye. In her own words, 13 years old Fausat Ajisegiri, a student of Wesley Girls

Junior High School, Sabo Yaba, who had won four gold and two silver medals for Lagos State at the National Schools Sports Festival and Ibile Games, said she is ready for the games because she has been training every week after school. Another athlete, 17-yearold SS3 student of Lagos City College, Sabo Yaba, Ogunsanwo Emmanuel, said that his aim in this year’s Ibile Games is to win gold medal having won gold at the last Ibile games and silver at the maiden

DAWN Games hosted in Lagos in 2014. Ogunsanwo said: “I am working towards being a world champion and I belief that with intensive trainings I will achieve my goal.” No fewer than 5,950 athletes from 418 Secondary Schools begin hostilities on Monday to fight for honours at the tournament, which will be run for two weeks across seven centres in Lagos with Week One events starting with Athletics and Deaf at Unilag Sports Centre, Yaba.

cally recalled the fond memory of what made his growing-up years most treasured phase of his life. Having been born Bello and raised in Lagos, he said “I make bold to say that Lagos today is far better than how it was over three decades ago when I was growing. There have been tremendous changes especially during the last eight years tenure of the present governor, Babatunde Raji Fashola who has made giant strides in the development of infrastructures and the beautification of the landscape. “We now enjoy good roads, clean and healthy environment etc. The transformations that took place at Oshodi, Tejuosho market and other various parts of the state are breath-taking. I am not considering leaving Lagos except if God says I should leave being a mouth piece of God. “In those days, I had great social life as I visited many important recreation centres. I remember following my late mother to a cinema close to my street then at Ladi-Lak in Somolu. There were not long buses like BRT then, but we used to board Molue because of large population of people residing in Lagos. We have good roads now compare to what we used to have then. Many people used to travel by rail then but we hardly see trains nowadays because they are gradually fading away. I know that this present government is working assiduously to bring back rail transport in a better way, but there must be provisions for maintenance. I said this because most of the BRT buses are not working again due to lack of maintenance.”

Lagos is a city of hustlers -Bashir Temitayo Abass Bashir a fuel station Athezeez manager in Lagos, said city of Lagos is a love-

ly and nice place to live, though it is over populated. The major problem he highlighted out is lack of enough accommodation. “Government should look Bashir into that plight and make affordable accommodation for the citizens it governs,” he said. Not only that, Bashir also has the Lagos traffic to contend with. He described the traffic in Lagos as terrible and blood pressure inducer. According to him, the only interesting part in Lagos is just the business part; he said people in Lagos are very industrious and hardworking. In addition, he adjudge Lagos to be a city of hustlers. For me, Lagos is a state where I learn new things every day. It gives me a sense of purpose and an understanding that if I don’t work hard, I’ll not survive there. Also, the high cost of living and centralization of the business district is something to talk about. I hate the transportation system, it’s very awful. With a robust transportation system, I can live in Ibadan and work in Lagos. Lagosians should keep voicing their concerns to the government and remember that we are largely responsible for our own success.

The Mega City

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

UPCOMING EVENTS

The Wedding Industry Conference and Exhibition #TWICE2015 Organiser: TWICE 2015 Date: February 3, 2015 From 10:00 AM - 3:00 PM Venue: Eko Hotel Road Victoria Island (Former Oceanview grounds), Lagos

THE GREAT GARAGE SALE

Organiser: The Aunty Socials Date: January 31, 2015 From 10:00 AM - 6:00 PM Venue: Muri Okunola Park Adeyemo Alakija Eti-Osa, Lagos Nigeria

African Digital Forensics and Cyber Crime Summit

Organiser: Digital Forensics Limited Date: February 3, 2015 From 8:00 AM - 5:00 PM Venue: Afribank Street Victoria Island, Nigeria. IBM Innovation Center Churchgate Towers Afribank Street Victoria Island, Lagos, Nigeria

Celebrating UR4Africa’s Mentors Organiser: UrBizEdge Date: January 23, 2015 From 9:00 AM - 5:00 PM Venue: 20 Kofoworola Crescent, Lagoon Hospital, Off Obafemi Awolowo road, Ikeja, Lagos, Nigeria

Kitchen design training

Organiser: Mikenney Limited Date: February 3, 2015 From 7:00 PM - 10:00 PM Venue: 20 CMD road Magodo, Lagos Nigeria

Pearls and Purpose Women’s Lunch with Shaneen Clarke Organiser: This Present House Date: January 31, 2015 From 11:00 AM - 2:00 PM Venue: The Dome - This Present House Freedom Way/Admiralty Way Lekki Phase 1 Lagos, Nigeria

MEGA CITY EVENTS Women on the Winning Edge (WOWE) Conference

L-R: Senior Pastor, Agape Christian Ministries, Bishop Felix ‘Remi Adejumo; Convener, Women on the Winning Edge Conference, Rev Mrs Funke Felix-Adejumo; wife of the General Overseer, Redeemed Christian Church of God, Pastor Mrs. Folu Adeboye and wife of the Kwara Sate Governor, Mrs Omolewa Ahmed, at the event held in Lekki, Lagos

L-R: Convener, Women on the Winning Edge Conference, Rev Mrs Funke Felix-Adejumo; wife of the Kwara Sate Governor, Mrs Omolewa Ahmed and wife of the Nigeria Ambassador to Greece, Mrs Elizabeth Ayodele, at the event

70th birthday of Joseph Abiodun Falode held at the Cubicle Event Centre, Isheri, Lagos

The celebrant, Elder Joseph Abiodun Falode, and his wife Mrs. Caroline, cutting the birthday cake

Celebrant, his wife (middle) with grandchildren, during the celebration.

Chief Ahmed Onibudo’s BIRTHDAY

The Ashipa of Lagos/Celebrant Chief Ahmed Onibudo, flanked by children and gradchildren, during his 75th birthday held at the Peninsula Resort, Ajah, Lagos

L-R: Chief Rasak Okoya; General Niyi Sangotade (rtd); Justice Adesola Oguntade (rtd); Chief Ahmed Onibudo; Chief Muyiwa Ajisafe and Chief Gbenga Obasa, at the event

Business | The Investor

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Why NSE’s $1trn target became a mirage Chris Ugwu

he Nigerian Stock Exchange (NSE) is the fulcrum around which the capital market revolves. It is at the centre of long-term capital formation in the economy as it provides the machinery and platform for organised and formal trading in debt and equity securities. The critical challenges faced by Nigeria’s capital market include deepening of the market, reactivation of the corporate bond market and demutualisation process. However, these key growth challenges were worsened following upset in the financial market arising from drop in oil price, naira devaluation, insecurities, build up to 2015 elections and Ebola crisis, among others. According to analysts, some of these factors sent a shock wave to both local and foreign investors and created uncertainty in the investment environment, which led to retreat on the part of the bargain hunters. Consequently, the dream of the nation’s capital market to achieve $1 trillion market capitalisation target by 2016 as dashed. Affirmation of a dashed dream The Chief Executive Officer of the NSE, Mr. Oscar Onyema, said the projection of the Exchange to grow market capitalisation in 2016 to $1trillion (N150 trillion) was not going to be achievable. Onyema, who spoke at the NSE Yearly Review: 2014 Market Recap & Outlook for 2015 in Lagos recently noted that the objective is no longer possible because of the current realities facing the bourse. He said that challenges to the naira; the fall in oil price and uncertainties due to an election year has caused a sell-off in the market. The NSE boss said that the global crude oil markets in the second quarter of 2014 were impacted by the slower economic growth of China and weaker demand for refined products from the US and Europe, which according to him, combined with ongoing challenges in the Nigerian oil and gas sector. Nigeria’s crude oil production dropped below 2.3mbd. “The impact of this drop in production was exacerbated in the third quarter by crude oil prices plummeting, forcing the Central Bank of Nigeria (CBN) to devalue the naira by eight per cent, and push the benchmark interest rate (the MPR) to a record 13 per cent, in an effort to preserve the nation’s foreign reserves, which stood at $34.50 billion on December 30, 2014, from $43.61 billion at the start of the year,” he said. Onyema noted that coming to the end of the year, inflation remained relatively stable due to a slower pace in the increase of food prices recorded by the Consumer Price Index (CPI). In the capital market, he said that the bearish sentiments prevailed for most of the year as foreign investors steadily withdrew from the Nigerian market, due to currency risk and the recovery of developed economies, and the effects of the US Federal Reserve tapering of its quantitative easing (QE) policy. Several macroeconomic developments also contributed to the decline in market performance. These include fall in crude oil prices and related pressure on the naira; the impact of CBN’s monetary policy changes introduced at various points throughout the year; Nigeria’s declining foreign reserves; festering insurgency in the nation; uncertainty around the upcoming 2015 elections; and weak cor-

NSE building

porate earnings. The air of uncertainty that hovered over the Nigerian capital market throughout 2014 caused investors to increasingly adopt a ‘flight to quality’ strategy,” he said. Effects of insecurity on NSE The inability of the Federal Government to be more apt and proactive in handling the menace of insecurity also dissuaded foreign investors from exiting in other emerging markets. The Managing Director, Lamberth Securities Limited, Mr. David Adonri, said the rising wave of insecurity is posing a serious threat to efforts put in place so far by the regulators to attract foreign direct investments. Adonri said that globalisation and liberalisation has made free flow of investment of capital across national borders possible with ease, but, however, affirmed that if government fails to decisively confront violent extremism in Nigeria, efforts at attracting foreign investment may be a mirage. He said: “Vibrancy of the capital market is conditional on the investment climate in every country. Where insecurity persists, the investment climate will not be conducive. Because peace and progress are intertwined, investment has tendency to always migrate to secure environments where peace is assured. “Violence kills people and destroys assets. Therefore, no sane investor will risk his hard earned savings in a strife torn economic environment. This is behind the recent exodus of foreign portfolio investment from our capital market, in the wake of deteriorating security situation in Nigeria. “Globalisation and liberalisation of capital markets have made free flow of investment capital across national borders possible with ease. Frightened domestic investors can move their investments to conducive foreign markets thus compounding the woes of the capital market. Also, such capital flight can exacerbate the pressure on the domestic currency.” The prevailing security situation occasioned by long drawn insurgency has negatively impacted investors’ confidence and limited the realisation of the tremendous potentials that the economy presents, especially post Gross Domestic Product (GDP) rebasing, Lagos Chamber

For the Capital Market to be relevant, there must be public policy redirection to move economic activities away from consumerimport trade, which fuels short-term capital aggregation to productionaided import and export trade that require long-term capital that the capital market provides of Commerce and Industry (LCCI) had said. President LCCI, Mr. Remi Bello, said that it would be difficult to attract investors at this time just as the risk of longterm investments in the economy has been heightened by prevailing conditions. He noted that the tempo of economic activities in the Northern part of the country has declined, access to the markets by companies in the southern part of the country has also reduced, resulting in loss of sales; while many enterprises have relocated. Knowledge gap A financial analyst and President of David School of Financial Graduate, Mr. Tunde Adeyemi, said that retail investors that exited the market during the recession failed to return due to shallow knowledge of the market. He stressed the need for human capital development in finance that would drive the needed local investors’ participation in the market and deepen market. The expert said the Nigerian capital market would achieve competitiveness, if companies were raising money successfully within six months with at least 10 per cent retail investors’ participation. “We have serious gap of knowledge and for the market to pick, we need to develop the skill and human capital to drive the market. Innovations are coming up

in the market, but the skill to transform it is not there.” He pointed out that foreign and institutional investors who understand the rudiments of stock market are investing heavily in the market. He said: “From the last public offer we had in the country, we discovered that the investors relied on information. But today, over 80 per cent of stockbrokers don’t go out to market companies stocks anymore. “They sit down in their offices based on their previous experience. That is why you see foreign investors dominating the market. The foreign investors are being driven by some fund managers that explains to them that despite the insecurity in the country, they can make 40 per cent interest in the country every quarter.” He noted that there is urgent need for marketers that can explain to the local investors’ reasons why they should invest in the market. Adeyemi explained that the challenge can be addressed by developing people that actually understand the financial market, saying that for the economy to grow, there is need for human capital development. He said: “The problem we are having in the country is that we have the people that have the money and the people that have the idea, what we are waiting for is people that will bring the two parties together, which is the financial market. “We don’t have venture capitalists and private equities investors or fund managers. The regulators are coming out with different idea and innovations, but the people that will actualise the idea are not there.” Conclusion Growing the market capitalisation by N150 trillion in 2016 would have been feasible if the primary market segment had become very active, especially when mega corporations in the power, energy, petroleum, petrochemical and telecommunications industries are listed by introduction in the stock market. However, for the Capital Market to be relevant, there must be public policy redirection to move economic activities away from consumer-import trade, which fuels short-term capital aggregation to production-aided import and export trade that require long-term capital that the capital market provides.

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Port Police lacks manpower, logistics to tackle crimes p.35

Maritime

Customs intercept N1.3m cannabis off Idiroko p.35

Ship owners fret over shipping fund payment delay The Cabotage Vessel Financing Fund (CVFF), was established under the Coastal and Inland Shipping Act 2003 to enable indigenous shipping companies acquire adequate tonnage and participate in coastal and inland trade currently dominated by foreigners. However, for over a decade, no local shipping company has benefited from the fund, BAYO AKOMOLAFE reports

he Nigerian Shipowners Association (NISA) has come heavily against the Federal Government for failing to disburse the Cabotage Vessel Financing Fund (CVFF) to indigenous shipping companies as required by the law since 2003 when the act was signed into law. The fund The fund is obtained from the two per cent surcharge of the contract sum performed by any vessel engaged in coastal trading and monies generated under the act via tariff, fines, fees for licenses and waivers. Foreign influence Twelve years ago, government had through the Coastal and Inland Shipping (Cabotage) Act of 2003, assured indigenous shipowners of full participation in the carriage of Nigeria’s crude oil dominated by foreigners. Section viii, paragraph 42, which established the fund particularly assured them of flourishing shipping trade in the country. Miffed by the failure of government, President of the association, Capt. Niyi Labinjo, said it was surprising that no indigenous shipping company had benefitted from the fund over a decade after it was established. Labinjo explained that the fund ought to have been reviewed two times since it was set up. He noted that there was a provision that the law should be reviewed every five years. He lamented: “It is unfortunate that 12 years have gone and nobody has benefitted from the fund. “This development has not helped the local shipping operators. What government ought to have done in order to ensure that the fund does not fail should have been to set up a committee headed by a minister of transport

Idled cabotage vessels at the Lagos wharf

for its disbursement. Other alternative would have been to set up a Maritime Bank to handle such fund, like the Agric Bank and Bank of Industry.” He expressed dismay that the Nigeria Maritime Administation and Safety Agency (NIMASA), which is not a revenue agency had been turned to a revenue generating agency. The problems Labinjo stressed: “NIMASA is not a revenue agency. It is a development agency. Its specific purpose is to develop maritime. If it succeeds to the extent that Nigerian companies develop commercial shipping, it will lead to employment creation and more revenue boom for the Federal Inland Revenue and indeed the national economy. “We are said to be the 10th world producer of oil. The world uses 84 million barrels per day of oil and Nigeria produces 2.5 million barrels every day. For gas, we have 24 trillion reserves. We have the best shrimps in the world called tiger shrimps. “That is why you have many Indian fishing companies in Nigeria. All the tiger shrimps are exported. We also import 65 million litres of petroleum products every year. In the oil and gas industry, Nigeria has about 500 oil wells. For each well, there is a rig, which is supported by a minimum of five ships, and they are called oil support vessels.” He noted that no Nigerian vessel had benefited from the resources. Labinjo noted that CVFF replaced the Ship Acquisition and Ship Building Fund (SASBF), which was suspended when beneficiaries of the fund failed to pay loans given to them over 20 years ago. The law provides that NIMA-

SA sets aside two per cent of its three per cent levy on ships for indigenous shipping development. Echoing him, former chairman of the association, Dr. Isaac Jolapamo, said that he had no knowledge of what the apex maritime regulatory agency was doing with the fund. He said: “The last time I heard about the fund was when the minister of transport said that they had short-listed six indigenous shipping companies that would benefit from the fund. One of the six companies is our member and the company has not got any loan.” Jolapamo explained that India, South Korea, Malaysia, Indonesia were among developing nations that had used their maritime resources to develop their economies.

India, South Korea, Malaysia, Indonesia were among developing nations that had used their maritime resources to develop their economies

Challenges He lamented that his company was indebted to banks to the tune of N40 million for ship acquisition and that since the beginning of the implementation of the Cabotage Act, his vessels had been reduced from six to one. He noted: “This year will make it 13 years that Cabotage started and instead of increasing, we are reducing in size. I had six vessels 12 years ago, but now, I have only one, and I am indebted to banks.” Jolapamo said that many shipping companies have closed shops due to the unfavorable shipping environment in Nigeria and that many of the seafarers are now disgruntled due to lack of jobs. Primary Lending Institutions It would be recalled that the minister of transport said that four Primary Lending Institutions, Diamond Bank, Fidelity Bank, Skye Bank and Equatorial

Trust Bank had been appointed to manage the fund on behalf of the agency. They were selected from among the 25 banks that applied as primary lenders under the fund. He explained that while agency would provide 50 per cent of the fund and take 4.3 per cent interest, the four banks would provide 35 per cent and take 5.7 per cent interest. Shipping firms that benefited from the fund are expected to provide the balance of 15 per cent. The delay However, the agency has explained the delay in the disbursement of the $200 million from the fund. The agency’s Executive Director, Administration and Finance, Captain Ezekiel Bala Agaba, explained that NIMASA had selected qualified beneficiaries for the fund, saying that the Federal Ministry of Transport was doing their homework to avoid what happened with the defunct Ship Acquisition And Ship Building Fund (SASBF). He said: “Not to make the mistake that trailed the Ship Acquisition and Ship Building Fund (SASBF), as administered to ship owners by the old Nigerian Maritime Authority (NMA), the nation’s maritime regulatory authority brought out stringent requirements to deter brief case offices from getting the loan.” Criteria for disbursement One of the criteria listed by the agency is that each applicant must own at least one classed vessel with P & I coverage; a structured shipping company, which is verifiable and registered with NIMASA; company and staff profile; Must be Nigerian-owned; five years experience; proof of having husbanded at least 10 vessels at both local and international waters within the last three years.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Port Police lacks manpower, logistics to tackle crimes INSECURITY Fight against criminal activities on the waterways inefficient Stories by Bayo Akomolafe

he Western Ports Police Command has said that it lacks sufficient manpower and logistics to tackle the nefarious activities of miscreants on the nation’s waters. The Commissioner in charge of the command, Mrs. Hilda Ibifuro-Harrison, disclosed this at a programme for officers of the command tagged, ‘Positive attitude into action’. Ibifuro-Harrison was responding to complaints by one of the stakeholders who raised concerns about how

miscreants from neighboring communities attack one of the terminals at the Lagos Port Complex, Apapa, daily without restraint. The stakeholder said: “This problem occurs both day and night. We have been seeing it on daily basis, we have so many wrecks on our waters where miscreants are living. They bring their canoe to the port, attack and go back in a jiffy. At night, they move freely without hindrance.” Ibifuro-Harrison said: “I can see that you are in sympathy with us and you know that we lack the logistics and manpower to cope with the activities of the miscreants, but within the limit of our power, my marine officers are doing the much they can do.” She assured that the command would solicit the assistance of other government agencies in the fight against

criminal activities on the waterways. “You have introduced us to the Nigerian Maritime Administration and Safety Agency (NIMASA) and I will get going. I will meet with the Director general and whenever I meet him, I will ask him to help with logistics. “I will synergise with the Navy because they have more sophisticated weapons and equipment and probably we can do away with those wrecks that have been harbouring the criminals and flush them out,” she said. The commissioner also urged drivers and relevant stakeholders to ensure that containers are properly latched before they exit the port. “I expect a change that we will no longer have containers that pose dangers to the lives of ordinary Nigerians. Meanwhile, the commis-

sioner urged the stakeholders to cooperate with Police in the port. She said that if stakeholders continued their synergy with the port police, it would go a long way in making the port environment friendly for business. She said: “We must continue to share information bordering on security at the ports through inter-agency collaboration. “In sharing information in that regard, there must be mutual interaction at all levels. “Officers must ensure mutual respect for one another; most especially for the experienced officers who have the skills to improve on security in the port environment. She commended the Nigerian Ports Authority (NPA) for its assistance in training the police officers to improve their

attitude to work. The Health Security, Safety and Environment (HSSE) Officer of the ENL Consortium, Apapa, Mr. Raphael Oyinloye, complained that miscreants from neighbouring communities attacked the terminal on daily basis, without restraint. He said that the miscreants lived on shipwrecks which littered the waters and used the wrecks as hideouts to attack the terminal. Oyinloye advised the police to work with the Nigerian Maritime Administration and Safety Agency (NIMASA), to remove the wrecks and flush out the miscreants who have made a habit of attacking and stealing from the terminal. “If you can collaborate with NIMASA to remove the wrecks which host the miscreants, I think that will solve the problem,’’ he said.

Customs intercept N1.3m cannabis off Idiroko

Miscreants take over Nigerian Ports Authority’s jetty in Marina, Lagos.

Concessionaire urges FG to fence off Tin Can Port T he Port Facility Security Officer (PFSO) of the Port and Terminal Multi-services Limited (PTML), Mr. Oscar Aliu, has urged the Federal Government to fence off the Tin Can Island Port Complex to secure the port and curb the influx of touts. Aliu noted that if the area could be fenced, the issue of touting would be minimised. He said that there are many illegal ways to access the port and until Tin Can Port is fenced away from the road, these incursions will continue. Aliu also noted that if the common user area was left unchecked, the port complex would be porous.

He said: “No matter what is done to the internal security, if the common access is still porous, there will be problem. It is impossible for everyone to stop hawkers at the port until the right thing is done. “Government had earlier promised that the port would be fenced up in three months when the United State Coast Guard (USCG) came, but nothing was done. Subsequently when I raised the issue of fencing, they said it was delayed. I don’t know what the complain will be two years after and maybe we want the USCG to come over to threaten us again before we do the right thing.”

Aliu challenged relevant regulatory agencies at the port to discharge their responsibilities. He stressed: “Until the regulatory authority wakes up to its responsibility, we will keep talking without progress. This will be at the disadvantage of foreign investors who have invested several billions of dollars in their business and who government does not pity when it comes to taxation to know that their investment is going down the drain. “Government should invest one tenth of the money they make at the port because if that is done, we won’t be talking about all the inadequacies we are talking about now.”

he Nigeria Customs Service (NCs)’s Headquarters Monitoring Team, has intercepted Canabis with a street value of N1.3 million off the Idiroko border axis in Ogun State. The contraband was loaded in neat sacks and packed in a wine-colour Toyota Corolla. The operatives were led by an Assistant Comptroller of Customs, Yahaya Biri Usman. It was learnt that the patrol team, acting on a tip off, had earlier sighted the vehicle in a volatile area and continued to trail it until about 10.25hrs when the driver moved into the Lagos – Ibadan Expressway, with the three sacks of the contraband. A member of the team who spoke on condition of anonymity noted: “We waited until we moved to a low risk area to avert any operational hiccup.” Meanwhile, the team leader had vowed to remain a force to reckon with in the anti-smuggling efforts of the service.

CG Customs, Abdullahi Dikko

He promised to ensure strict compliance with the Federal Government’s fiscal policy on trade and commerce. The assistant comptroller called on members of the public to oblige the team with useful information that would aid their operations. Yahaya Biri Usman highlighted that the team had contributed immensely to the seizure profile of the Nigeria Customs Service since inception, thereby justifying the very essence of its creation. He added that the collaboration and synergy, which his team received from the Controller Federal Operations Unit Zone ‘A’, Deputy Comptroller of Customs, Turaki Usman Adamu, had been overwhelming. Usman stressed: “Smuggling, just like scavenging is a global menace and the NCS will continually be at the front line of ensuring its drastic suppression in line with its statutory obligations and extant laws.”

Business | Maritime

Shipping lines: Council to recover illegal charges Bayo Akomolafe

he Port Economic Regulator, Nigerian Shippers’ Council (NSC), has said that all illegal charges collected by shipping companies and terminal operators must be refunded. Its Deputy Director, Public Relations, Mr Ignatius Nweke, said that the council would ensure that its decision as upheld by the court is carried out. Already, the council has directed its Consumer Complaints Unit to visit all the ports and interact with importers and Customs brokers, obtain evidence of the illegal charges by the shipping companies and terminal operators. Also, it has asked importers and freight forwarders to list all the illegal charges being collected by the terminal operators and shipping companies at the sea ports. It was revealed that the decision of the council followed allegation that the shipping service providers had been collecting those charges, which the Federal High Court, Ikoyi, stopped them from collecting in December, 2014. Nweke noted that the council also, would bring the full weight of the law against all those who chose to go contrary to the court order. He noted that NSC would continue to protect the interest of the Nigerian shippers by making the operating environment conducive for business. Nweke noted that the council wanted to ensure that the economy was not allowed to suffer through the action of any group or individuals, adding that it was the desire of NSC to ensure that the cost of doing business in Nigerian ports was reduced for the good of the nation’s economy. He recalled that the council had carried out a study on what obtains in other ports of Benin, Ghana, Gambia and Cameroun before coming out with its policy measure on some shipping charges in the ports. President of Nigerian Shippers’ Association, Rev Jonathan Nicol, argued that since the shipping companies and terminal operators applied to the court for ‘stay of execution of the order’ after the judgement, they ought to have waited until their application was granted.

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Expert seeks completion of inland depots

he President, Nigerian Institute of Shipping (NIS), John Egesi, has urged the Federal Government to facilitate the completion of the Inland Container Depots (ICDs) and Container Freight Stations (CFS). The ICDs, otherwise known as dry ports, which were concessioned to six operators are located in six areas: Ibadan, Kano, IsialaNgwa (Abia), Jos, Maiduguri and Funtua (Kat-

sina). Egesi, who was the former Director-General of the defunct National Maritime Authority (NMA), explained that the inland depots would bring more success stories to the maritime industry, ease cargo clearance and reduce congestion at the ports. According to him, the inland depots would have the same structure as the ports. He noted that when

the cargo arrive the ports, they would be taken by special trains to the depots. He said: “The inland depots will create jobs and reduce congestion at the ports. Congestion makes cargo clearance very expensive. “The 48-hour cargo clearance target is not possible with the present state of the ports.” Egesi noted that with the traffic and heavy density of containers plying the ports’ access

roads, in two years, the roads would be bad again. He suggested that “there should be a two circular rail system. One through the West and the other through the East. “The rail system should carry heavy cargoes, while the roads would carry lighter cargoes,” the former NMA director-general said. He, however, said that the Chartered Institute of Shipping Bill

had passed through the House of Representatives. Egesi assured that the Bill would sail through the Senate when the political climate settles. He explained that the Bill would set standards and checkmate some government institutions in certain areas like certification. Egesi said that when the Bill is transformed into law, it would guide the government on what should be done.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Photo | News

L-R: Chief Edwin Clark; celebrant, Chief Dan Etete and Bayelsa State Governor, Seriake Dickson, at a state banquet in honour of Chief Etete on his 70th birthday in Yenagoa.

L-R: Edo State Governor, Adams Oshiomhole; All Progressives Congress (APC) senatorial candidate, Edo Central, Mr. Francis Inegbeneki; House of Representatives candidate, Mr. Gideon Obhakhan; House of Assembly candidate, Mr. Sam Odigie and Woman Leader, Dr. Victoria Amadasun, at the party’s rally in Ekpoma.

L-R: Nigerian Idol Judges, Darey Art-Alade, Dede Mabiaku and Yinka Davies, and Head, Youth Segment, Etisalat Nigeria, Elvis Daniel, at the Nigerian Idol Season 5 auditions in Abuja.

L-R: Ondo State Commissioner for Natural Resources, Mr. Tunde Atere; wife of Ondo State Commissioner for Information, Mrs. Fehintola Akinmade; Kayode Akinmade and Ondo State Commissioner for Women Affairs, Lady Yemi Mahmud Fasominu, at the dedication service of Utra-Modern Church auditorium by Mountain of Fire and Miracles Ministries, in Mowe, Ogun State. PHOTO: TONY EGUAYE

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

L-R: Oba Iyanfoworogi, Osun State, Oba Adebolu Fatunmise; Director-General, Nigeria Tourism Development Corporation (NTDC), Sally Mbanefo; National Coordinator, Oodua People’s Congress (OPC), Otunba Gani Adams and Zaki of Arigidi-Akoko, Ondo State, Oba Yisa Olanipekun, at the Oodua Progressive Union (OPU) Leadership Training and World Congress in Lagos. PHOTO: SULEIMAN HUSAINI

Oyo State Governor, Abiola Ajimobi (second left), congratulating one of the retirees, Mrs. Taiwo Oyewole (right), at the send-forth in honour of local government retirees in Ibadan, Oyo State.

L-R: Representative of the President/Founder, Old People’s Welfare Foundation, Mrs. Victoria Ebun Robert; representative of the Olu-Epe of Epe Kingdom, Chief Ademola Shobaloju; Dean of Students’ Affairs, University of Lagos (UNILAG), Prof. Babawale Babatunde and first civilian governor of Lagos State, Alhaji Lateef Kayode Jakande, at the 5th Isokan Omo Yoruba Day/1st annual lecture held in Lagos.

L-R: Founder, Uttar Bharat Seva Samaj (UBHAS), Mr. Ravitosh Shukla; Executive Director, Lagos and South-West of First City Monument Bank (FCMB) Limited, Mr. Femi Bakre and Head of Consular, High Commission of India, Mr. Jagdeep Kapoor, at the annual cultural and social get-together of Indians resident in Nigeria held in Lagos.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Leisure Arcade NUTS

NTPuzzle

By Kaycee

CHRISTMAS Word Search M C Z U R D S K M F B K T F C G J K H P P O Z M E R R Y E N A X N U F I T R E E Q V Y H B P L H N J K R B X B G R E I N D E E R L 0 U L N D P X 0 U Z N F C Y Y T L S Z E S Q V B 0 L R Y 0 B L A R Q Z U Z P T S R B S

MAMA LASISI

By Aliu Eroje

G I H 0 G D U 0 L H V R M T F E 0 M S H W K I G T A 0 O E K H B S D T Q S I Q L C G B L 0 O R G I N U L W N A M 0 C H K L G E H I A H P B L V V N H Z L R Y F Q A L N F C W G D Z A T T P M I A I P S U D C N I F U Z G A Y K P S Y P W E N B I F D G F P S S C D N T Y A E Q F 0 T F Z F W W L G T Y N M H J D J D S W E R F V B K I Q C I A K N E E R G E A W 0 R I S

MOYIN & FRIENDS

By Ayo Oyerinde

Y U G H S C A V J S D T 0 F Y 0 Z G V L I L E B K Q F A S H I J I R J B Christmas Holiday Happy Merry Reindeer

Santa Tree Lights Star Holly

Bells Gifts Snow Carol Candy

Red Green

NTJokes PRIESTS ON VACATION

SUDOKU - Answer to No 41 6

9 3

SUDOKU - No 42

6 1

5 9

1 2

How to play

Sudoku

ALIU EROJE

CHIEF CARTOONIST aliu.eroje@newtelegraphonline.com

The objective is to fill a 9x9 grid so that each column, each row, and each of the nine 3x3 boxes (also called blocks or regions) contains the digits from 1 to 9. A cell is the smallest block in the game. A row , column and region consists of 9 cells and the whole game consists of 81 cells. A region has thicker lines surrounding it. This simply makes it easier to play the game.

Two priests decided to go to Hawaii on vacation. They were determined to make this a real vacation by not wearing anything that would identify them as clergy. As soon as the plane had landed, they headed for a store and bought some really outrageous shorts, shirts, sandals, sunglasses, etc. The next morning they went to the beach, dressed in their “tourist” garb. They were sitting on beach chairs, enjoying a drink, the sunshine and the scenery when a drop-dead gorgeous topless blonde in a thong bikini came walking straight towards them. They couldn’t help but stare. As the blonde passed them, she smiled and said, “Good morning, Father, good morning, Father,” nodding and addressing each of them individually, then passed on by. They were both stunned. How in the world did she know they were priests? So the next day, they went back to the store and bought even more outrageous outfits. Once again, the two priests settled on the beach in their chairs to enjoy the sunshine. After a while, the same gorgeous topless blonde, wearing a string, taking her sweet time, came walking towards them. Again, she nodded at each of them, said, “Good morning, Father,” and started to walk away. One of the priests couldn’t stand it any longer and said, “Just a minute, young lady.” “Yes?” she replied. “We are priests, and proud of it, but I have to know, how in the world did you know we are priests, dressed as we are?” “Father, it’s me, Sister Angela”

40 Politics The House of Representatives, penultimate week, launched an investigation into an alleged salary scam at the moribund Ajaokuta Steel Company in Kogi state. PHILIP NYAM seeks to find out if the parliament can change the course of things at the company established over 30 years ago

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Can Reps save Ajaokuta Steel Company?

s part of its oversight function, the House of Representatives two weeks ago mandated its Committee on Steel to investigate an alleged increase of the moribund Ajaokuta Steel Company workers’ monthly salaries from N228 million to N3.4 billion. The resolution was taken following the adoption of a motion sponsored by Hon. Abbas Tajudeen (PDP, Kaduna) entitled: “Need to investigate the expenditure of a huge sum of N3.4 billion monthly on payment of salaries to staff of the moribund Ajaokuta Steel Company.” In his lead debate, Tajudeen expressed concern over a report in a national newspaper of September 1, 2014 which quoted the chairman of Assets Management Corporation of Nigeria (AMCON), Aliyu Kola Belgore, that N3.4 billion is being spent monthly on salaries to the moribund company’s workers. He said in another report of September 5, 2014 that the Iron and Steel Senior Staff Association of Nigeria (ISSAN) in conjunction with the Engineering Workers Union of Nigeria (EWUN) said the monthly wage bill for 2,900 staff of the company was N288 million and not N3.4 billion as alleged. The lawmaker stressed that, “the provisions of Section 88 (2) (b) of the constitution which empowers the National Assembly to direct or cause to be directed an investigation aimed at exposing corruption, inefficiency or waste in the administration of funds appropriated by it.” “Despite the fact that the company was conceived and built with the aim of its facilitating the industrialisation and economic transformation of the country, it has failed to fulfill that expectation hence the engagement of US consultants and Indian technical contractors for 10 years,” he added. The motion was unanimously adopted. This move by the House has once again thrown up the issue of rot and waste that has become the bane of the Nigerian iron and steel industry. It is a fact that Ajaokuta Steel is today one of the biggest abandoned projects in the country. The attempt by the House to probe into the controversial and astronomical rise in the wage bill

Ajaokuta Steel Complex

of a non-performing company is considered a most welcome development. Perhaps, after the salary confusion must have been sorted out, the lower chamber may do well by delving into the remote and immediate causes of the grounding of operations at the promising complex. In an age when millions of able-bodied and willing youth are unemployed, such a venture that would have generated thousands of jobs is rather lying fallow and wasting away. There are so many unanswered questions about what really went wrong at Ajaokuta. Is it that there are no raw materials to effectively cater for the needs of the company? Does’nt Nigeria have the wherewithal to run such a massive project? Don’t we need iron in Nigeria and even if we do not, can’t we export it to generate revenue for the development of the country? Are there people sabotaging the efforts to keep the company on stream? Why has no administration taken the revival of Ajaokuta Steel as a priority project? Many suggest that the House should consider expanding the scope of its investigation to cover all these areas enumerated because the salary issue is just scrapping the surface. They wonder how long government would continue paying salaries and allowances of workers that are clearly underutilised or not utilised at all? The history Ajaokuta Steel Company (ASC)

They wonder how long government would continue paying salaries and allowances of workers that are clearly underutilised or not utilised at all?

is said to be the largest integrated steel company in West Africa and has cost the Nigerian taxpayers an estimated whooping $7 billion (N1.1 trillion) since it was inaugurated by the Shehu Shagari administration. This amount is almost the size of the nation’s annual budget. Available records show that buoyed by the need to produce iron in Nigeria to spur economic and industrial development, the General Olusegun Obasanjo military regime in 1979 signed a global contract for the construction of the Ajaokuta Steel plant. Obasanjo soon handed over power to the civilian government of Shagari which kick started the process of implementation of the contract. Before the government was overthrown in 1983, the project was said to have attained 95 per cent completion rate. Unfortunately, subsequent regimes could not accord the project the desired commitment and the Nigerian factor eventually set in. Most stakeholders in the iron and steel industry were happy when Obasanjo who signed the initial project for Ajaokuta Steel in 1979 returned to power in 1999. The excitement was borne out of the belief that since he initiated the project, he would bring that zest to bear on the company, which had nosedived for years. Unfortunately, efforts by the civilian government under Obasanjo rather created more confusion at the steel company. It is on record that as part of the privatisation and commercialisation policy of the Obasanjo civilian administration, the company was concessioned to an Indian firm, Global Infrastructure Holdings Limited (GIHL). The concession could not work because the man-

agement of GIHL failed to meet up with the terms of the agreement. Consequently, this led to an industrial disharmony between the workers and the company. Hence, Obasanjo’s successor, late Alhaji Umaru Musa Yar’Adua was compelled to revoke the agreement. Subsequently, the GIHL filed a case against the Nigerian government at the London Court of Arbitration. While this case lasted, Yar’Adua died and his efforts were fruitless. The Goodluck Jonathan administration sounded very convincing and committed to taking the company out of the woods when it came on board. But the initial enthusiasm has died down as the administration seems not to be pursuing its lofty ideas at the company. It will be recalled that before the current Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke was moved from the Ministry of Mines and Steel Development, she outlined the Federal Government’s plan to re-operationalise the completed sections of the plant with a provision of $650 million. But since Alison-Madueke left the Ministry of Mines and Steel Development, nothing more has been heard about the fund. What has become of this $650 million lifeline? This is another area of concern, which the House of Representatives would have to beam its searchlight on. Was the $650 million actually provided or was it just a policy statement? If it were provided, how has it been utilised? This has to be set aright if the fortunes of the Ajaokuta Steel will ever be realised. The executive would need to collaborate with the House to chart a new course for Ajaokuta Steel. Indeed, this is a laudable and beneficial project that must not be allowed to slip into oblivion.

Politics 41

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Former Governor of Ekiti State and Head, Policy, Research and Strategy Directorate of the All Progressives Congress (APC) Presidential Campaign, Dr. Kayode Fayemi, attempts to provide answers to some of the issues raised by former Governor, Central Bank of Nigeria (CBN), Prof. Chukwuma Soludo on Buhari V Jonathan: Beyond the Election

Buhari vs Jonathan: Beyond the election

e commend Prof. Chukwuma Soludo for his insightful and incisive article published in the Vanguard and Nation Newspapers of January 26th under the above title. We agree with Prof. Soludo that if the political parties, including ours, must justify the overwhelming enthusiasm of Nigerians about the 2015 elections, we must remain focused on the issues that matter most to them, which is the progress of our country and the wellbeing of our people. Indeed, this has been the driving conviction of our party and our campaign all along. While we accept his critical comments on our party, more for the intentions than for the letters, we believe some clarifications would be quite necessary. We wish to emphasise that our party, the All Progressives Congress (APC), presents a real option to Nigerians. Soludo expressed the sentiments of most Nigerians when he spoke about the incalculable damage that the PDP under President Goodluck Jonathan has done to the Nigerian economy and the unprecedented hardship that his six years has brought upon Nigerians. However, the APC does not intend to ride into power on a mere rhetoric of ‘change’. The change that we propose is fundamental in many ways as it is critical to the very survival of our country. This in itself presents a major distinction between our party and the PDP. Perhaps, the most compelling argument against the Peoples Democratic Party (PDP) today is that its government and leadership does not even see that Nigeria is in trouble. While majority of our people wallow in abject poverty, and the gap in inequality gets ever wider by the day, yet PDP continues to bask in self-celebration of imagined accomplishments. How can a party or a government even begin to solve a problem that it does not believe exist? Like in all things, PDP is stuck in denial. APC does not promise Eldorado. Neither our candidate nor our manifesto has made such promise. Our programmes are based on the critical awareness of the difficult task ahead, while holding out a ray of hope to our people. The promises that we make reflect our innermost belief that the people must be at the centre of development. Especially, we believe that

Jonathan any economic growth that leaves the majority of the people behind, and does not protect the weakest and the vulnerable among us, is merely delusionary. Prof. Soludo has drawn our attention to the striking but unfortunate similarity in the nation’s economy in 1982-1984 period and what we are experiencing today. Back then, a period of sustained high crude oil prices had also ironically led to unsustainable debt levels and introduction of the austerity measure. Just as it happened more than three decades ago, it is difficult to explain how a sustained period of oil boom should ultimately lead to austerity measure except to say that huge opportunities that the period of boom presented were frittered away by mindless profligacy, wanton corruption and bad economic choices made by the PDP government, which has rewarded a protracted period of boom with uncertainty and austerity and is still asking for another mandate to do more damage. If we sound upbeat in our manifesto, it is because we recognise that this crisis period also presents us a great opportunity to restructure the economy in a way that improves the quality of lives of our people by ensuring that our economic growth is job-led. Our party has identified job creation as a critical priority of government. We have noted with concerns that Nigeria’s unemployment rate of 23.9 per cent should be seen as a national crisis. And if this government was more sensitive to the enormity of the challenge that this presents, it would be reluctant to jump all over the place in self celebration, while so many of our youths are wasting away. In the immediate future, our priority is to tackle unemployment and provide good jobs by em-

Buhari

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

Soludo expressed the sentiments of most Nigerians when he spoke about the incalculable damage that the PDP under President Goodluck Jonathan has done to the Nigerian economy

barking on a massive programme of public works, building houses, roads, railways, ports and energy plants. Over the long term, we believe we must wean Nigeria off its dangerous addiction to oil, which currently provides 80 per cent of our spending, leaving us at the mercy of volatile international oil prices. Even as a federalist party, we believe that an economy that is dependent on a commodity that is so dangerously exposed to price volatility must always prepare for eventuality through savings and investments once the agreed thresholds are met. What we disagree with is the unilateral and arbitrary deductions in accruable revenues in a way that hampers the development of the federating states. Going by the government’s own statistics, is it mere coincidence that the three states with the lowest unemployment rate - Osun, Lagos and Kwara - are all APC states? This is evidence of our party’s ability to tackle this problem head-on. APC’s policy thrust will create an enabling environment and incentives for the formal and informal sectors to lead the quest for job creation. This will be done in addition to skills acquisition and enterprise- training to ensure our youths are equipped with the appropriate skills to take these jobs. Merely introducing a National Qualification Standards would power a whole new world of opportunities for our artisans by launching them into the international job markets. We note the issue that Soludo picked with our figure of 720,000 jobs. We need to clarify that this is limited to immediate direct employment opportunities from public projects and maintenance works only. Our manifesto actually promises a lot more jobs but we see that as the product of the enabling en-

vironment we seek to create for private sector-led job creation, especially in high opportunity sectors like agriculture, construction, entertainment, tourism, ICT and sports. APC economic policy is driven by an overwhelming concern for the level of inequality in our country today. Specifically, to quote from our manifesto, we intend to achieve our job-creation agenda through: Massive public works programme; projects which must commence early in the life of the new administration. Establishing a new Federal Coordinating Agency - Build Nigeria - to fast track and manage these public works programmes with emphasis on Nigerian labour. Embarking vigorously on industrialization, public works and agricultural expansion. Diversifying the economy through a national industrial policy and innovative private-sector incentives that will move us away from over reliance on oil into value-added production especially manufacturing. Reviving textile and other industries that have been rendered dormant. Reinvigorating the solid mineral sector by revamping our aged mining legislation and attracting new investment. Developing a new generation of domestic oil refineries to lower import costs, enhance our energy independence and create jobs. Working with state governments to turn the country into Africa’s food basket through a new system of grants and interest free loans, and the mechanisation of agriculture. Encouraging and promoting the use of sports as a source of job creation, entertainment and CONTINUED ON PAGE 42

42 Politics

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Yuguda, Mohammed renew supremacy battle C O N T I N U E D F R O M PA G E 1 3

to stone himself or his boss. We, therefore, enjoin all well-meaning Nigerians to completely disregard Yuguda’s outrageous allegation. In fact, anyone who believes his wild allegation would believe anything! By Yuguda’s latest embarrassing conduct, he has successfully exposed his chameleonic character as an APC mole in the PDP. We call on Isa Yuguda to please respect himself by leaving Sen. Bala Mohammed alone!” Alleging that Yuguda is the godfather and sponsor of the APC gubernatorial candidate in Bauchi State, and that he has not been campaigning for President Jonathan’s re-election in the state, the FCT Minister further claimed that recent developments in the state have exposed the governor as an unabashed filth columnist in the PDP. No love lost To say that there is no love lost between the governor and the minister would be an understatement though both men used to be political allies before they fell apart. Mohammed served as an aide to Yuguda when he was a minister during the administration of former President Olusegun Obasanjo. He was elected senator for Bauchi South in 2007 on the platform of the defunct All Nigeria People’s Party (ANPP), the same platform Yuguda was first elected governor. But the duo reportedly fell out when the governor married late President Umaru Yar’Adua’s

daughter and decamped to the PDP. The standoff came to the fore, when in March 2010, Mohammed accused Yuguda of being behind a move by the people of his senatorial district to recall him from the Senate as a result of his call for the declaration of President Umaru Yar’Adua incapacitated and make Vice-President Jonathan the acting President. While the recall move failed, Mohammed was rewarded by Jonathan immediately he gained power with a ministerial position, but it has been a raging battle between him and Yuguda since then. It was against this backdrop that his 2015 governorship ambition suffered a setback. Mohammed was one of the ministers pencilled down to exit President Jonathan’s cabinet to pursue gubernatorial ambitions, but Yuguda who hails from the same Bauchi South with him as well as the National Chairman of the PDP, Alhaji Adamu Mu’azu were said to be disposed to Bauchi North producing the next governor. Conflict ‘vindicates’ APC While the Director of Media and Publicity of the PDP Presidential Campaign Organisation, Chief Femi Fani-Kayode, has persistently blamed the APC for the attacks on the president since the campaigns kicked-off, the opposition said it has been vindicated by the Bauchi development. The National Publicity Secretary of the party, Alhaji Lai Mohammed, who spoke on the issue, said he was happy that Governor

Yuguda was able to summon the courage to clarify what happened in his state. “Governor Yuguda’s interview has vindicated the APC and confirmed our position that the PDP and President Jonathan will stop at nothing to scuttle this election. “It is sad that in their desperation, PDP and Jonathan are ready to bring down the nation. Thanks to Governor Yuguda. The whole world now sees the hypocrisy and perfidy of President Jonathan and the PDP. In Jos, Kano, Bauchi, Rivers and other states we have witnessed electoral violence, PDP are the instigators and aggressors,” Mohammed said. Implications of the feud ahead of polls Though it is argued that the Yuguda/Mohammed feud is unlikely to have any effect in the electoral fortune of PDP in Bauchi State, some analysts, are however of the view that the worst thing that would happen to the party is going to the polls a divided house. Already, Yuguda’s revelation is said to have rattled the leadership of the ruling party though most of its chieftains, including Special Adviser to the President on Political Affairs, Prof. Rufai Alkali and Fani-Kayode insist that the attack was carried out by the APC. To those who expressed the fear, Bauchi may go the way of the opposition in the election if the governor and the minister fail to close ranks. This assumption was premised on the 2011 elections experience when the candidate of the

Mu’azu

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

Congress for Progressives Change (CPC), General Buhari polled 1.3 million votes against the PDP’s Jonathan 258,404. Buhari and Jonathan are squaring against each other again in the forthcoming elections. The question then is: Will Governor Yuguda and Senator Mohammed, who are once political allies close ranks and work for the interest of the ruling party in Bauchi come February 14 and 28, when the presidential/national assembly and governorship/state assembly elections are expected to hold? Developments in the days ahead will only determine.

Buhari vs Jonathan: Beyond the election C O N T I N U E D F R O M PA G E 4 1

recreation. Creating a knowledge economy by making Nigeria an IT /professional/Telecom services outsourcing destination hub to create millions of jobs. Filling the huge gap in middle level technical manpower with massive investment in technical and tradesmen’s skills education. Ensuring that all foreign contractors include a plan of developing local capacity (technology transfer). Creation of six Regional Development Agencies covering the country with representatives from the Federal Government, states and the private sector to manage a new N300 billion growth fund. Our obsession with job creation stems from the fact that we believe we must focus on actions that would serve the twin purpose of closing the gap in inequality and creating opportunities for our people, especially the youth. The Human Development Index position ranks Nigeria 152 of 169 countries surveyed. This is incompatible with the present administration’s insistence on celebrating GDP growth and our absolute economic size hinged on a routine rebasing exercise. As many commentators have pointed out, rebasing the GDP is not an achievement. Rather, it is a mere statistical adjustment that does not impact on the real or imagined

standards of living of the people. So, we also wonder what this PDP government is celebrating. And maybe it is not that difficult to explain when one discovers that a small elite has captured the state and converted our commonwealth into private gain, becoming disproportionately rich from massive corruption, while poverty has deepened. The income gap and illicit capital flight are growing alarmingly. Instead of investing in modernizing our economy, massive theft has starved the country of desperately needed resources for infrastructure and public services and left us dangerously dependent on fluctuating global oil prices for our economic survival. For the ordinary Nigerian, the much-touted economic growth cited by the present administration has not translated into employment or development. Over 100 million Nigerians are struggling to make ends meet on a regular basis. Furthermore, we understand Professor Soludo’s concern on the cost of implementing our various programmes, especially those relating to social welfare. The enormity of this challenge is not lost on us. We also know that sometimes, going into government is like buying a “no testing” electronic equipment. You may never know the true state of what you are buying until you get in. We want to assure Soludo and other like-minded Nigerians that our policy team is

Soludo has drawn our attention to the striking but unfortunate similarity in the nation’s economy in 1982-1984 period and what we are experiencing today

looking at all the options – including the worst-case scenario of a completely empty treasury. We are however confident that by blocking avenues of wastages and corruption alone, savings could run into billions of naira that could be deployed for productive use. Even so, we agree with Soludo that savings from corruption alone will not tackle the enormous challenges we are likely to confront in government. We are however comforted by the fact that a four-year period provides opportunity for phased implementation while growing the resource base as well as changing the culture of graft, while reducing the cost of governance. Quite significantly, we know that periods of economic downturn also potentially provide opportunity to lay the foundation for real economic restructuring and development; and we can reflect on how Singapore under Premier Lee Kuan Yew and the United States of America under President Franklin Delano Roosevelt used historic moments of economic downturn in their countries to launch a period of sustained development and a new deal for their people. General Buhari has never claimed to have the magic wand nor the answers to all of the country’s problems. His greatest assets would be his moral authority borne out of his self-sacrificing integrity, his sincerity of purpose and his patriotic zeal to return

Nigeria to the path of progress and genuine development. He is committed to utilise competent and committed people of integrity wherever he may find them. This is precisely why he promised when flagging off his campaign in Port Harcourt on January 5, 2015 that if voted into power, it would be an opportunity to, in his words, “finally assemble a competent team of Nigerians to efficiently manage this country.” This is a clear sign that a meritocratic process will govern the appointment of those that would be entrusted with managing our economy and country. His stint as Head of State shows a track record of using self-sacrificing professionals in his governance team. The APC is determined to lead Nigeria in the direction of change that is so urgently required. And even as we prepare for the immediate rescue mission in 2015, our minds are also set on building the necessary democratic institutions that would entrench our ideological conviction as a progressive and people-centred party. A National Progressives Policy Institute is part of this plan in the near future, but we are very clear about the enormity of the task ahead. We would not seek to underplay it. We are supremely confident that we are equal to the task and we appreciate the commitment of majority of Nigerians to this quest for change.

Politics 43

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Emmanuel Masha Port Harcourt

he Rivers State chapter of the All Progressives Congress (APC) chapter has described electoral violence as the greatest danger confronting the country’s democracy. The party stressed the need for the international community to pay a closer attention to what is happening in Rivers State. In a video documentary detailing the attacks of its members and destruction of properties in the state by the Peoples Democratic Party (PDP), the APC called on Am-

Rivers APC: Electoral violence biggest threat to Nigeria’s democracy nesty International, International Red Cross, the United Nations, the African Union (AU) and other international agencies to intervene in the state. The chairman of the party, in the state, Dr. Davies Iboamu Ikanya, who stated this at a press conference on electoral violence in Port Harcourt yesterday, lamented that a situation where the supporters of the PDP attack APC members at

INDEP ELECT ENDENT NAT ORAL C IO OMMIS NAL SION

will under the watch of security operatives, was troubling and an attempt

by the PDP to win Rivers at all cost. He said that the alleged destruction of lives and property in the state by the PDP, started when the Goodluck Jonathan government deployed the former Commissioner for Police, Mbu Joseph Mbu, to the state. He noted that violence returned fully when Mbu “shamelessly escorted known criminals and outlaws through the streets

of Port Harcourt in the guise of a demonstration.” Ikanya, who addressed newsmen along with Senator Magnus Abe, APC governorship candidate, Hon. Dakuku Peterside, and former Petroleum Minister, Prof. Tam DavidWest, also said: “The PDP having established its machinery for violence now began to unleash mayhem in the form of physical attacks on the APC mem-

bers, killing and causing grievous bodily harm on our members across the state, destroying properties worth millions of naira. “It began with a tragicomedy of sorts which held the nation’s attention for several weeks. In the full glare of the nation, five disgruntled and misguided House of Assembly members led by one Evans Bipi, and sponsored by the then Minister of State for Education (both of whom are adopted sons of the president and his wife), in the company of countless thugs, escorted by Mbu’s band of policemen attempted to overrun the State House of Assembly.” He alleged that the violence in the state was being sponsored by Barr. Nyesom Wike, the PDP governorship candidate because he has the tacit backing of Mr. President and his wife. Also speaking, DavidWest said that the situation in Rivers where hoodlums control territories without being challenged by security agencies was an indication that Nigeria is a failed state, saying that he would only support a party that will bring light to the country. On his part, Senator Abe said the constitution has given the people of the state the right to join any political party of their choice, noting that they should not be killed for that. “The irrational obsession of the PDP in taking over Rivers State is because of the state’s economic importance to Nigeria,” he said, adding that because of the presence of the First Lady in Okrika, attempts by the party to organise a rally have been futile. In his comments, Peterside dismissed the comments credited to the PDP that the violence in the state stems from the disagreement between him and Abe, saying that it was “malicious, unkind, laughable and mischievous,” noting that the bond that holds him and Abe “is a greater Rivers State.” Peterside said he thought that the violence would cease after he, Wike, and Prince Tonye Princewill of the Labour Party (LP) signed a peace agreement under the watch of the US ambassador to Nigeria, but that the attack on the venue for the party’s rally in Okrika has proved otherwise.

Business | Money Line

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

China, US headwinds: IMF warns Nigeria, others

MARKET

Low oil prices will trigger off volatile market reactions Stories by Godson Ikoro

nternational Monetary Fund (IMF) head, Christine Lagarde has warned that Nigeria and other African economies could be hurt by a slowdown in China’s economy and an imminent hike in United States interest rates. Lagarde, speaking yesterday on a visit to Rwanda, said IMF’s global economic forecasts have been revised down over the past few months despite a huge fall in oil prices. She called for “vigilance” across Africa and added this slower growth has implications for a continent that is now more integrated into the global economy than ever before. “Momentum is slowing in many advanced and emerging economies, including China - one of Africa’s main trading partners,” Lagarde told Rwandan lawmakers in the capital Kigali. Lagarde said the overall outlook for sub-Saharan Africa was promis-

ing at close to 5 percent, but growth forecasts for the region have been trimmed due to lower oil and commodity prices. African countries such as Nigeria and South Sudan depend on

oil for the majority of their revenues. Lagarde said some African oil exporters will struggle in case oil prices remain low and warned of instability once the United States

starts imminent “monetary policy normalization”, a move that is expected to see the US raise interest rates. “Even if this process is well-managed and well-communicated - and

AMCON transfers ownership of bridge banks to Skye, Heritage

overnor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has warned against a reoccurrence of the factors, which led to the takeover of the threebridged banks, namely Mainstreet Bank, Enterprise Bank and Keystone Bank Limited. He gave the warning yesterday at the divestment ceremony in Lagos where the Asset Management Corporation of Nigeria (AMCON) officially transferred the ownership of Mainstreet Bank Limited and Enterprise Bank Limited to their new owners, Skye Bank Plc and Heritage Bank Limited, respectively. Emefiele insisted that if

the bridge bank option had not been adopted in 2011, the systemic crisis in the banking crisis would have been unprecedented and costly in terms of its spillover effects on other banks. The CBN boss thanked AMCON and the interim management of the two lenders for taking up the responsibility of assisting the CBN to stabilise the bridged banks and restoring them to good financial health. He said that the nation does not wish to have another experience of the crisis. Also making his remarks, Chairman of AMCON, Alhaji Kola Belgore, said that the bridged banks had been restored to financial solvency, adding that

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

N14,737,618.7m N16,509,472.5m 8 0.0000 12 10.899 7.96 17.01 US$109.9 US$42,604,781,796.6

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, 2013 Dec, 2013 Dec, 2013 2/5/2014 1/20/2014 11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 2/5/2014 Source:CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Bid 12.10 12.10 12.05

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

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

Mustafa Chike-Obi

Mainstreet Bank’s profit before tax at the end of December 2013 stood at N13 billion, while Enterprise Bank recorded a profit before tax of N3 billion. Also speaking on the occasion, Group Managing Director of Skye Bank Plc, owners of Mainstreet Bank, Mr. Timothy Oguntayo, said the bank saw value and synergies in the acquired bank and promised to harness and optimise the value. Oguntayo thanked the Board of AMCON, CBN and

the Securities and Exchange Commission (SEC) for conducting a transparent process that led to the selection of the bid winners for the bridged banks and for granting all the required clearance and approvals that paved the way for the acquisition and eventual takeover. While fielding questions from Journalists, he said that the Managing Director of AMCON, Mr. Mustafa Chikeobi said he was relieved to hand over two of the three bridged banks. Although AMCON is divesting from the bridge banks, he said that the Corporation still has over 13,000 accounts. He said that the AMCON was happy to realise more than 25 percent of what AMCON invested in the bridge banks. It would be recalled that AMCON announced both Skye Bank and Heritage Bank as the proffered bidders for Mainstreet Bank and Enterprise Bank respectively in the last quarter of 2014. Both banks had since completed the payments for the 100 per cent shares of the two acquired banks, and are currently conducting a process for seamless integration.

AfDB, Niger sign $61m pacts to reduce food insecurity

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

I believe that it has been and will be - there could be negative effects for emerging markets and global financial stability. African economies could also be impacted,” she said.

Hurt by cooling investment, manufacturing and a sagging housing market, China’s economy grew 7.4 percent last year, a level not seen since 1990 when the country was hit by sanctions after the Tiananmen Square crackdown. A Reuter’s poll in January showed China’s economic growth was expected to slip to 7 percent this year before dipping to 6.8 percent next year.

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

he African Development Bank Group yesterday signed two agreements worth $61million to ensuring food security in the Sahel region, especially in Niger, to strengthen the resilience of vulnerable populations in this region. The Bank and the Government of Niger signed two agreements at the Bank’s Abidjan headquarters. The first signature was for $42 million – $21 million in loans and $21 million as a grant. The second agreement relates to a grant equivalent of approximately $19.2 million. Janvier Litse, AfDB Acting Vice-President responsible for Regional Operations, co-signed on behalf of the Bank. He said the agreements demonstrate a clear desire to move forward and fight poverty: “These two programmes to build socioeconomic systems and resilience against food insecurity are strategic operations for the whole Sahel and particularly for Niger,” he said, add-

ing that interventions will be focused on a series of priority actions involving water management, protection of the environment, and improving agricultural production and productivity.” Niger’s Minister of Planning, Land Use Planning and Community Development Amadou Boubacar Cissé welcomed “these two important agreements for our country, for the implementation of a multi-national food security resilience programme in the Sahel. These two programmes are essential parts of our region’s overall development strategy and we reiterate our gratitude to the whole Bank.” The Minister emphasised that “reaching an agreement on these two new operations reflects the relevance of our dialogue with the AfDB and of the efforts both parties are making.” The AfDB’s total operations in Niger, since it started operations in that country in 1970, amount to approximately $1 billion.

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

FMDQ Daily Quotations List

27-Jan-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 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 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)

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

4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00 12.1493

535.00 581.39 476.80 20.00 100.00 300.00 351.30 233.90 600.00 434.68 75.00 150.00 200.00 591.57 206.00

TOTAL OUTSTANDING VALUE

4,855.63

TOTAL MARKET CAPITALISATION

4,407.88

Rating/Agency

Issuer

Description

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

0.24 1.55 2.25 2.50 2.59 3.34 4.42 4.74 7.00 9.13 13.84 14.32 14.81 15.49 19.47

13.49 15.05 15.31 15.32 15.32 15.33 15.33 15.34 15.30 15.31 15.25 15.24 15.23 15.27 15.35

12.83 14.93 15.23 15.24 15.24 15.20 15.24 15.22 15.23 15.24 15.20 15.18 15.16 15.21 15.29

97.79 97.30 99.55 88.98 87.60 88.20 102.05 72.61 104.60 94.60 98.52 84.10 60.78 69.00 80.30

97.94 97.45 99.70 89.13 87.75 88.50 102.35 72.91 104.90 94.90 98.82 84.40 61.08 69.30 80.60

Maturity Date

TTM (Yrs)

23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.70 112.22 116.70 66.49

24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

0.32 1.18 1.87 2.23 2.44

2.63 2.27 2.00 1.00 1.00

16.71 17.69 17.17 16.26 16.30

94.88 99.65 98.26 96.89 93.61

Agency Bonds FMBN ***LCRM

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

322.67

TOTAL MARKET CAPITALISATION

311.57

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.59

4.44

19.74

96.11

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.43

3.23

18.00

98.58

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.95

4.46

20.04

15.50

5.73

30-Jun-16

0.95

3.48

19.07

97.33

19-Apr-17

2.23

1.00

16.26

88.65

95.26

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

‡ /Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.49

1.00

16.08

97.21

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.93

1.79

17.11

93.03

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.10

1.80

17.03

94.98

‡ /Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

3.69

1.00

16.33

93.66

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.30

1.00

16.27

96.95

‡ /Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

2.30

4.78

20.05

89.71

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.48

1.00

16.31

96.56

BBB+/Agusto; A-/GCR ‡ /Agusto; ‡ /GCR

*GOMBE LAGOS

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

BBB-/Agusto; A-/GCR

*OSUN

14.75 OSUN 12-DEC-2019

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

15.50 14.50 14.75

16.23 80.00 26.62

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

2.73 4.82 2.80

1.00 1.00 2.74

16.32 16.33 18.06

98.45 93.98 93.16

‡ /Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

11.10

10-Oct-20

3.35

1.00

16.33

96.20

‡ /Agusto; ‡ /GCR

LAGOS

13.50 LAGOS IV 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.83

1.00

16.31

89.61

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.93

1.94

17.25

91.81

‡ /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

3.59

1.44

16.77

94.39

06-Jan-14

15.00

4.56

06-Jan-21

3.62

1.95

17.28

94.38

96.35

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

460.61 428.89

Corporate Bonds ‡ /Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

3.61

17-Aug-15

0.31

4.88

18.88

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.34

09-Dec-15

0.62

1.00

16.32

98.08

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.70

2.63

18.01

97.80

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.67

1.00

16.12

95.54

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.74

1.34

16.48

96.67

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.67

1.00

16.32

92.97

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.69

1.88

17.00

102.53

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

6.30

09-Apr-18

1.70

3.48

18.60

96.60

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.90

09-Sep-18

1.86

5.20

20.37

96.63

1.86

5.06

20.23

101.73

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.80

09-Sep-18

A/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.65

1.35

16.68

92.82

Bbb+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.40

18-Oct-18

1.97

2.29

17.49

97.49

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.41

17-Feb-19

2.06

6.11

21.33

94.67

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.93

2.16

17.48

96.84

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.80

2.76

18.07

90.03

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

0.10

30-Sep-24

9.67

1.00

16.30

79.00

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.67

1.00

16.30

85.33

TOTAL OUTSTANDING VALUE

124.44

TOTAL MARKET CAPITALISATION

116.36

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

3.04

1.00

16.32

85.75

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.26

1.00

16.34

85.06

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.30

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.37

7.08

97.06

98.39

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

6.20

5.77

96.71

98.00

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.55

7.34

92.73

93.98

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,432.52

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

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

95.47

52.25

B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.98

100.63

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

11.26

91.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

13.60

11.28

82.66

88.19

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

10.95

9.19

85.01

90.00

B/Fitch

AFREN PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

41.11

40.50

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

10.75

85.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

15.03

13.55

80.54

84.67

B-/Fitch; B/S&P

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

9.99

92.00

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

AFREN PLC III ACCESS BANK PLC II FIRST BANK LTD

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

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

6.63 9.25 8.00

360.00 400.00 450.00

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

27.39 12.66 11.38

27.39 12.31 11.38

41.00 85.25 84.00

41.00 86.63 84.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.73

10.30

90.01

91.86

TOTAL OUTSTANDING VALUE

4,760.00

TOTAL MARKET CAPITALISATION

3,721.72

**Treasury Bills DTM 9 16 23 30 37 44 51 58

FIXINGS Maturity 5-Feb-15 12-Feb-15 19-Feb-15 26-Feb-15 5-Mar-15 12-Mar-15 19-Mar-15 26-Mar-15

Bid Discount (%) 10.98 11.20 12.00 11.65 11.08 12.00 12.15 12.15

Offer Discount (%) 10.73 10.95 11.75 11.40 10.83 11.75 11.90 11.90

Bid Yield (%) 11.01 11.26 12.09 11.76 11.21 12.18 12.36 12.39

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 15.0000 14.6693 15.5525 16.6077

Tenor

Rate (%)

OBB

14.75

O/N Tenor Call 1M

15.13

REPO

Rate (%) 14.67 16.09

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

191.90 192.25 192.55 193.25 194.56 195.86

192.00 192.36 192.69 193.73 195.58 197.39

***LCRM

0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

20-Apr-12 06-Jul-12

0.00/16.50 0.00/16.50

116.70 66.49

TOTAL OUTSTANDING VALUE

322.67

TOTAL MARKET CAPITALISATION

311.57

20-Apr-17 06-Jul-17

2.23 2.44

1.00 1.00

16.26 16.30

96.89 93.61

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.59

4.44

19.74

96.11

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

4.18

30-Sep-15

0.43

3.23

18.00

98.58

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.95

4.46

20.04

95.26

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.95

3.48

19.07

97.33

‡ /Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

‡ /Agusto

Business | Financial Market News

WEDNESDAY, JANUARY 28, 2015 2.23 1.00 16.26 NEW TELEGRAPH 88.65

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.49

1.00

16.08

97.21

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.93

1.79

17.11

93.03

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

34.14

30-Sep-18

2.10

1.80

17.03

94.98

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

3.69

1.00

16.33

93.66

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.30

1.00

16.27

96.95

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

2.30

4.78

20.05

89.71

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.48

1.00

16.31

96.56

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

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

15.50 14.50 14.75

16.23 80.00 26.62

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

2.73 4.82 2.80

1.00 1.00 2.74

16.32 16.33 18.06

98.45 93.98 93.16

96.67

CONFIDENCE ‡ /Agusto; A-/GCR ‡ /Agusto; A-/GCR†

‡ /Agusto Equities market ‡ /Agusto; A-/GCR gains N27bn BBB+/Agusto; A-/GCR

NIGER *EKITI *NIGER *ONDO

‡ /Agusto; ‡ /GCR

*GOMBE LAGOS

BBB-/Agusto; A-/GCR

*OSUN

‡ /Agusto

*OSUN

NSE rallies on blue chip stocks

insecurity, build to against 29,779.17 recorded 14.75 OSUNup 12-DEC-2019 10-Oct-13 14.75 OSUN II 10-OCT-2020the previous day, while 2015 elections, recapithe 27-Nov-13 ‡ /Agusto; ‡ /GCR LAGOS talisation fever, 13.50 LAGOS IV 27-NOV-2020 among market capitalisation of Chris Ugwu and 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 others, which have kept equities appreciated by N27 Deborah 31-Dec-13 ‡ /Agusto Olayode *EKITI 14.50 EKITI II 31-DEC-2020 bargain hunters at bay.06-JAN-2021 billion or 0.27 per cent as 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA Consequently, the key market sentiment returned nvestors on the NigeTOTAL OUTSTANDING VALUE rianMARKET equity market market performance to the green territory. TOTAL CAPITALISATION got respite yesterday measures, the NSE All Meanwhile, a turnover Corporate Bonds and market as the bulls regained Share Index10.00 of 468.2 billion shares UPDC 17-AUG-2015 17-Aug-10 ‡ /Agusto *UPDC stronghold following capitalisation,12.00 rose by 1.199-DEC-2015 worth N4.6 billion in09-Dec-10 4,346 FLOURMILLS BBB-/Agusto *FLOURMILLS gains recorded by some per cent as market senti-06-JAN-2016 deals was recorded during 14.00 CHELLARAMS BB/GCR 06-Jan-11 *CHELLARAMS 13.00 NAHCO light 29-SEP-2016the day’s trading. A+/Agusto; 29-Sep-11 blue chip A-/GCR companies. NAHCO ments beamed green 14.25aFSDH 25-OCT-2016 A-/Agusto sentiment has 25-Oct-13 FSDH Low to trade up on positive Banking sub-sector of 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA continued to pervade note. the financial services sec18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING theNilmarket folowing the Consequently , the Alltor was the most active MPR+7.00 DANA 9-APR-2018 09-Apr-11 *DANA Share Index gained 79.89 (measured by turnover current upset in the fiMPR+7.00 TOWER 9-SEP-2018 09-Sep-11 A-/DataPro†; B+/GCR *TOWER TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A/GCR arising *TOWER basis points MPR+5.25 or 0.27 per volume) with 332 million nancial market 14.00 UBA II 22-SEP-2018 A/Agusto; A/GCR 22-Sep-11 UBA from drop in oil prices, cent to close at 29,859.06 as shares worth N1.3 billion

#{r}

15.75 LA CASERA 18-OCT-2018

18-Oct-13

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.41

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

A/GCR

STANBIC IBTC

Bbb+/Agusto; BBB+/GCR

SEC tasks registrars on compliance

15.75

8.75 AUG 14, 2021

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE

14-Aug-14

1.34

16.48

2.67

1.00

16.32

92.97

30-Nov-17

1.69

1.88

17.00

102.53 96.60

09-Apr-18

1.70

3.48

18.60

09-Sep-18

1.86

5.20

20.37

96.63

09-Sep-18

1.86

5.06

20.23

101.73

16.68

92.82

3.65

1.35

1.97

2.29

10.73

10.30

17.49 97.49 duguri, the capital of the 17-Feb-19 2.06 6.11 21.33 94.67 northeastern state of Bor01-Apr-19 2.93 2.16 17.48 96.84 Z Cussons Plc, 65 people 14-Nov-20 5.80 2.76 no, killed 18.07 at least90.03 30-Sep-24 1.00 in an attack 16.30 maker of9.67Imperial last79.00 Sunday. 30-Sep-24 1.00 16.30 month’s 85.33 presiLeather 9.67 soap, said “Next the violence affecting dential election in the parts of Nigeria was country will be a key concausing only limited tributing factor to fullyear results, Chairman disruption to business in 11-Feb-18 3.04 1.00 16.32 85.75 what is one of4.26the comcompany85.06 , Richard 01-Feb-21 1.00 of the16.34 pany’s most important Harvey, said in a statecountries. ment. Most of PZ’s Nigerian “Post-election tends factories located theYield (%) to beBidaPrice rebound confiMaturity Date areBid Yield (%) inOffer Offerin Price south, while the conflict dence. We expect by the & Yields that has left thousandsPrices end of February to have dead is mostly7.37confined 28-Jan-21 7.08 business 97.06 as usual,” 98.39 Leigh to the north east of the said. 12-Jul-18 5.77 96.71 98.00 African nation,6.20 according PZ Cussons rose 3.6 per to12-Jul-23 Chief Financial Officer, cent to 322.1 pence 7.55 7.34 92.73 93.98in LonBrandon Leigh. don trading. The stock has “It does impact busi- fallen 14 per cent in the ness, but it doesn’t im- past year. pact all of the business,” Adjusted operating profit fell 4.4 per cent to Leigh said by phone from 01-Feb-16 95.47 95.47 52.25 52.25 London yesterday after 46 million pounds in the 19-May-16 6.98 6.98 100.63 100.63 the company reported a six months ended Novem25-Jul-17 11.26 11.26 91.50 91.50 drop in first-half sales as revenue 02-May-18 13.60 11.28 ber 3082.66 88.19slid 10 and profit. million 08-Nov-18 10.95 9.19 per cent 85.01 to 386.7 90.00 08-Apr-19 41.11 pounds. 40.50The performance 40.50 According 41.11 to Bloom22-Apr-19 10.75 30 per 10.75 reflected 85.00 85.00 berg News, about divestments, 21-May-19 15.03 80.54 84.67 cent of PZ’s sales and 13.55 a without, which operating 07-Aug-20 9.99 9.99 92.00 quarter of profit come profit92.00 increased 3.5 per 09-Dec-20 27.39 27.39 41.00 41.00 from Nigeria,12.66 where Isper cent, 24-Jun-21 12.31 cent and 85.25sales 1.5 86.63 lamist said. 23-Jul-21 militants 11.38 in Mai11.38 the company 84.00 84.00

124.44 116.36 12.00 12.95

24.95 21.30 Outstanding Value ($mm)

500.00 500.00 500.00

1,500.00 1,432.52

450.00 500.00 350.00 300.00 400.00 300.00 500.00 200.00 300.00 360.00 400.00 450.00 250.00

14-Aug-21

90.01

4,760.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

1.74

22-Sep-18

0.10

8.75

25-Oct-16

30-Sep-17

18-Oct-18 Chris Ugwu

15.44

On the other hand, 16.33 Plc led96.20 MRS Oil the price 16.31 89.61 losers’ table, dropping 17.25 91.81 five per cent to94.39 close at 16.77 N50.5417.28 per share, 94.38 while Conoil Plc followed with a loss of 4.99 per cent to close at N36.21 per share. Dangote Flour Plc depre18.88 96.35 ciated16.32 by 4.93 98.08 per cent each to close at N2.89 per 18.01 97.80 95.54 share.16.12

PZ Cussons sees Nigeria violence causing partial disruption

2.40

13.25 regulatory STANBIC IB 30-SEP-2024 30-Sep-14 ery, including 100 per cent13.25 comto the apex body. Chris Ugwu TOTAL OUTSTANDING VALUE He noted that this would en- pliance with e-dividend, total TOTAL CAPITALISATION heMARKET Securities and Ex- able the Commission concen- support for dematerialisation changeBond Commission trate more on its core functions of share certificates as well as Supranational reduction of (SEC) has stressed the of regulating and developing ensuring drastic 10.20 IFC 11-FEB-2018 AAA/S&P IFC 11-Feb-13 10.20 unclaimed10-Jul-14 dividends. 11.25 need for registrars in AfDB the Ni- the capital 11.25market. AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P geria capital marketVALUE to ensure Gwarzo said the CommisSpeaking earlier, President TOTAL OUTSTANDING compliance and efficient ser- sion was working to empower of ICMR, Mr. Bayo Olugbemi, TOTAL MARKET CAPITALISATION vice delivery. SROs and trade groups to en- said there were some factors Acting Director General of Issuerable them handle some com- affecting the of the Description Rating/Agency Issue operations Date Coupon (%) the Commission, Mr.Mounir plaints and deal with them Registrars, which include poor FGN Eurobonds Gwarzo, stated this in Abuja with dispatch and also exer- income from their activities in the market07-Oct-11 and non-passage when the leadership of the cise some measure6.75ofJANcontrol 28, 2021 BB-/Fitch; B+/S&P 6.75 of Institute of Capital Market on their members. the institute’s bill among others. BB-/Fitch; 5.13 JUL 12, 2018 5.13 the rules Registrars (ICMR) paid him a FGN “We have finished “We are12-Jul-13 in support of reducBB-/S&P BB-/Fitch; visit. courtesy on complaints management tion of fees in the capital mar6.38 JUL 12, 2023 12-Jul-13 6.38 BB-/S&P Gwarzo charged the regis- framework and very soon, it ket but what we earn is just TOTAL OUTSTANDING VALUE trars to ensure efficient service will be exposed. One of the too small and not a reflection TOTAL,MARKET CAPITALISATION delivery including 100 per cent highlights is to allow com- of services we render, and the compliance with e-dividend, plaints to be managed at the bill for the institute to be charCorporate Eurobonds total support for dematerialilower level” Gwarzo explained. tered has01-Feb-11 not been passed,” 11.50 FEB 01, 2016 B/Fitch; B-/S&P AFREN PLC I 11.50 sation of share certificates as He emphasised that the Olugbemi19-May-11 said. 7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I 7.50 strategy of the Commission He therefore sought for the well as ensuring drasticACCESS reduc7.25 JUL 25, 2017 B+/S&P BANK PLC 25-Jul-12 7.25 Commission’s assistance6.88 over tion of unclaimed dividends. was not to create committees 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC 09-May-13 these issues. He said trade groups and but to focus on prescriptions 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC 08-Nov-13 6.00 10.25 APR 08, and 2019 AFREN PLC II 08-Apr-12 10.25 of SelfB/Fitch Regulatory Organisations of previous committees Agreeing that the work 6.25 prescripAPR 22, 2019 B+/Fitch;in BB-/S&P BANK PLCensuring that these 6.25 (SROs) the Nigeria ZENITH capital registrars 22-Apr-14 is enormous, Gwar8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC 8.75 market would be empowered to tions were executed within zo advised21-May-14 that the members 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 07-Aug-13 8.25 should have good negotiation settle complaints in their vari- reasonable time frames. 6.63 DEC 09, 2020 B-/Fitch; B/S&P AFREN PLC III 09-Dec-13 6.63 ousB-/Fitch; groups while only unreHe charged the registrars to with their clients before taking 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B/S&P ACCESS BANK PLC II 24-Jun-14 9.25 solved issues delivup a job detailing 8.00/2Yservice USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P can be escalated FIRST BANK LTD ensure efficient 23-Jul-14 their services. 8.00 B-/S&P

Okomu Oil Plc led the 10-Oct-20 table with 3.35 5.14 per 1.00 gainers’ 27-Nov-20 cent to close at 5.83 N27.00 per1.00 31-Dec-20 5.93 1.94 share, while PZ Cussons1.44 31-Dec-20 3.59 Plc and Ikeja Hotels Plc1.95 06-Jan-21 3.62 followed with a gain of five per cent each to close at N26.25 and N2.73 per share respectively . Dan-4.88 17-Aug-15 0.31 gote Sugar Plc trailed with1.00 09-Dec-15 0.62 a 06-Jan-16 growth of 4.99 0.70per cent 2.63 to29-Sep-16 close at N5.891.67 per share.1.00

exchanged by investors in 14.75 11.10 1,537 deals. 13.50 87.50 Volume in the sub-sec15.00 5.00 tor was largely driven by 14.50 4.55 activities 15.00 in the shares 4.56 of Fidelity Bank Plc 460.61 and Access Bank Plc. 428.89 Also, other financial subsector,10.00 boosted by activities 3.61 in the12.00 shares of FBNH 9.34 Plc followed 14.00 with a turnover 0.42 15.00 valof 39.613.00 million shares ued at14.25 N211.7 million5.53 in 786 20.00 deals. 13.00 18.00 0.64 The16.00 number of gainers 6.30 at the close of trading 18.00 2.90 ses16.00 25, while declin0.80 sion was 14.00 ers closed at 28. 35.00

91.86

27-Jan-15

3,721.72

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute **Treasury Bills FIXINGS Money Market Foreign & Forwards) 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 upExchange to date. (Spot We do not guarantee DTM Maturity Bid Discount (%) Offer Discount (%) Bid Yield (%) Tenor Rate (%) NIBORfor the results of any action taken on the basis of the Information. the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability 9 5-Feb-15 10.98 10.73 11.01 16 23 FGN Bonds 30 37 44 Rating/Agency 51 58 65 72 79 86 93 100 107 114 NA 128 135 149 156 170 177 191 219 310 TOTAL OUTSTANDING 324

VALUE

345

12-Feb-15 19-Feb-15 26-Feb-15 5-Mar-15 12-Mar-15 Issuer 19-Mar-15 26-Mar-15 2-Apr-15 9-Apr-15 16-Apr-15 23-Apr-15 30-Apr-15 7-May-15 14-May-15 21-May-15 NA 4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15 16-Jul-15 23-Jul-15 6-Aug-15 3-Sep-15 3-Dec-15 17-Dec-15

11.20 12.00 11.65 11.08 12.00 Description 12.15 12.15 4.00 23-APR-2015 13.00 12.80 13.05 16-AUG-2016 13.15 15.10 27-APR-2017 13.00 9.85 27-JUL-2017 13.00 9.35 31-AUG-2017 12.15 10.70 30-MAY-2018 13.10 16.00 29-JUN-2019 13.30 7.00 23-OCT-2019 13.80 16.39 27-JAN-2022 14.05 14.20 14-MAR-2024 14.30 15.00 28-NOV-2028 14.40 12.49 22-MAY-2029 14.20 14.15 8.50 20-NOV-2029 13.50 10.00 23-JUL-2030 13.40 12.1493 18-JUL-2034 13.85 13.70

Bonds

11.26 12.09 11.76 11.21 12.18 Coupon 12.36 (%) 12.39 4.00 13.31 13.13 13.05 13.54 15.10 13.41 9.85 13.45 9.35 12.57 10.70 13.62 16.00 13.88 7.00 14.50 16.39 14.82 14.20 15.19 15.00 15.34 12.49 15.21 15.19 8.50 14.53 10.00 14.57 12.1493 15.70 15.60

13.80

13.55

15.87

359 21-Jan-16 14.00 *for the Amortising bonds, the average life is calculated and not the duration

13.75

16.24

TOTAL MARKET CAPITALISATION

7-Jan-16

10.95 11.75 11.40 10.83 11.75 Issue Date 11.90 11.90 23-Apr-10 12.75 12.55 16-Aug-13 12.90 27-Apr-12 12.75 27-Jul-07 12.75 31-Aug-07 11.90 30-May-08 12.85 29-Jun-12 13.05 23-Oct-09 13.55 27-Jan-12 13.80 14-Mar-14 14.05 28-Nov-08 14.15 22-May-09 13.95 13.90 20-Nov-09 13.25 23-Jul-10 13.15 18-Jul-14 13.60 13.45

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

Description

Tenor O/N 1M 3M 6M Outstanding

(N'bn)

Value

Rate (%) 15.0000 14.6693 15.5525 16.6077

OBB

14.75

O/N

15.13

REPO

Tenor TTM Call (Yrs) 1M 3M0.24 6M1.55

Maturity Date

535.00 23-Apr-15 NITTY 581.39 16-Aug-16 Tenor Rate (%) 476.80 27-Apr-17 1M 11.9666 20.00 27-Jul-17 2M 12.5455 100.00 31-Aug-17 3M 13.4356 300.00 30-May-18 6M 14.2108 351.30 29-Jun-19 9M 15.1943 233.90 23-Oct-19 12M 16.4880 600.00 27-Jan-22 434.68 14-Mar-24 75.00 28-Nov-28 NIFEX 150.00 22-May-29 Current Price ($/N)20-Nov-29 200.00 BID($/N) 591.57 192.0500 23-Jul-30 OFFER ($/N) 192.1500 206.00 18-Jul-34

4,855.63

Rate (%) Bid Yield 14.67 16.09 13.49 16.57 17.59 15.05

Tenor

(%)

Bid ($/N)

Spot 7D 14D 1M Yield Offer 2M (%) 3M 6M12.83 1Y14.93

2.25 15.31 15.23 2.50 15.32 15.24 2.59 15.32 15.24 :Benchmarks 3.34 15.33 15.20 * :Amortising Bond 4.42 15.33 15.24 µ :Convertible Bond 4.74Management Corporation 15.34 15.22 AMCON: Asset of Nigeria 7.00 15.30 15.23 FGN: Federal Government of Nigeria 9.13 15.31 15.24 FMBN: Federal Mortgage Bank of Nigeria 13.84 Finance Corporation 15.25 15.20 IFC: International 14.32 15.24 Management 15.18 LCRM: Local Contractors Receivables NAHCO: Nigerian 14.81 Aviation Handling 15.23Company 15.16 O/N: Overnight 15.49 15.27 15.21 UPDC: UAC19.47 Property Development Company 15.35 15.29 NOTE:

WAPCO:West Africa Portland Cement Company

Offer ($/N)

191.90 192.00 192.25 192.36 Price 192.55 192.69 193.25 193.73 Bid Price Offer Price 194.56 195.58 195.86 197.39 97.79 97.94 200.32 203.36 209.85 215.55 97.30 97.45

99.55 99.70 88.98 89.13 87.60 87.75 NA :Not Applicable 88.20 88.50 # :Floating Rate Bond 102.05 102.35 ***: Deferred coupon bonds 72.61 72.91 104.60under review104.90 ‡ : Bond rating 94.60 94.90 †: Bond rating expired 98.52 98.82 N/A :Not Available {r} :Issuer 84.10 in receivership 84.40 60.78 61.08 NGC: Nigeria-German Company 69.00 69.30 UBA: United Bank for Africa 80.60 80.30

4,407.88

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

Agency Bonds FMBN ***LCRM Modified Duration Buckets

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Sub-National Bonds KADUNA

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

‡ /Agusto

*IMO

‡ /Agusto; ‡ /GCR

LAGOS

‡ /Agusto

*BAYELSA

‡ /Agusto

EDO

‡ /Agusto; A+/GCR

*DELTA

‡ /Agusto; A-/GCR

NIGER

‡ /Agusto; A-/GCR†

*EKITI

Porfolio Market Value(Bn)

Volume(Bn)

24-May-12 0.00 03-Apr-12 17.25 FMDQ FGN BOND 09-Dec-11 0.00/16.00 20-Apr-12 0.00/16.50 06-Jul-12 0.00/16.50 Weighting by Weighting by Mkt

Outstanding Vol

Value

1,016.45

1,034.18

32.63

34.50

1,378.39

1,365.98

43.09

46.79

769.57

24.28 31-Aug-10 100.00 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11

18.71 12.50 100.00 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50

Market

551.12 12.50 KADUNA 31-AUG-2015 2,945.95 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018

3,169.73

24.56 2.70

INDEX 112.22 116.70 66.49

Bucket Weighting

322.67

3<5 >5

A/Agusto

0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017Total Outstanding

24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17 % Exposure_

Mod_Duration

0.32 1.18 1.87 2.23 2.44

Implied Yield

2.63 2.27 2.00 1.00 1.00 Implied

Portfolio Price

16.71 17.69 17.17 16.26 16.30

INDEX

94.88 99.65 98.26 96.89 93.61 YTD Return (%)

311.570.33

13.07

15.18

117.9685

1,120.46

1.1383

0.43

46.12

15.31

120.6173

1,021.34

0.8661

0.24

40.81 31-Aug-15 100.00 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18

15.29 0.59 15.29 0.43 0.95 0.95 2.23 1.49 2.93 2.10 3.69 2.30

85.2481 4.44 111.1659 3.23 4.46 3.48 1.00 1.00 1.79 1.80 1.00 1.00

996.70 19.74 1,061.54 18.00 20.04 19.07 16.26 16.08 17.11 17.03 16.33 16.27

1.0243 96.11 0.6021 98.58 95.26 97.33 88.65 97.21 93.03 94.98 93.66 96.95

8.50 1.00 4.18 4.86 5.73 57.00 25.73 25.00 34.14 9.00 13.73

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

COMPLICITY Party accuses governor of complicity in students' protest Steve Uzoechi OWERRI

he Peoples Democratic Party (PDP) yesterday dismissed allegations by the Imo State Government accusing it of complicity in Monday’s students' rampage in the State. The party’s spokesman, Enyinnaya Onueg-

News 47

SOUTH - EAST

Okorocha’s orchestrated students’ rampage failed him, says PDP bu, described the claim as a complete falsehood and an act of shadow-chasing designed to cushion the scandalous embarrassment resulting from the failed students’ solidarity rally for Governor Rochas Okorocha. Onuegbu said, “Neither the PDP nor the Emeka Ihedioha’s campaign organization was involved in that show of shame. What is evident is that the students have apparently outgrown the

mesmerizing antecedents of Okorocha who would always make promises to them and default without scruples.” Continuing he said, “He took the students out on his campaign trips throughout last week and the solidarity rally was to be the climax and he refused to pay them what was agreed. As prearranged, the governor’s aide who supervised the renting of students took flight when it was time to

pay. Used and exploited, the students turned riotous.” Onuegbu, regretted that instead of encouraging students to focus on their studies, as the ‘Commander of free education’, Okorocha, without qualms, finds it convenient to entice and exploit students for political ends, at a time academic institutions in the state are in full session. The PDP urged Imo people to discountenance

the face-saving antics of Okorocha and ensure that the needed change in Douglas House, is effected come February 28. Meanwhile, the whereabout of the Executive Assistant on Students Affairs to the governor, Godstime Samuel, who narrowly escaped lynching on Monday is still unknown, as all efforts made to contact him to explain what led to the shortchanging of the students proved abortive.

Chime, Ugwuanyi, rally support for Jonathan Uwakwe Abugu ENUGU

talwarts of the Peoples Democratic Party (PDP), including the State Governor Sullivan Chime, Hon. Ifeanyi Ugwuanyi , the party’s governorship candidate and Deputy Senate President, Senator Ike Ekweremadu, during the PDP campaign rally in Udi, Enugu State, yesterday called on the people of the state to vote massively for President Goodluck Jonathan, to ensure his victory in the February14 presidential election. Speaking, to a mammoth crowd at the rally, Ugwuanyi, stated that votes for the President would also guarantee his victory as he noted that the people of the state were lucky to have the Governor as their leader, saying his administration has made governance easy in Enugu State, through many of his unprecedented scorecards. He added that this was the reason why he and his running mate, Hon. Cecilia Ezeilo, have accepted to continue and consolidate on the gains of the governor’s achievement if elected next month.

Jonathan will win Imo clearly, says Onwuliri L-R: Chairman, Nigerian Breweries Plc, Chief Kola Jamodu; Managing Director, Mr. Nicolaas Vervelde and Corporate Affairs Adviser, Mr. Kufre Ekane, at the commissioning of Aba Breweries expansion project in Abia State …yesterday

Community backs Odoh’s senatorial ambition Charles Onyekwere ABAKALIKI

he senatorial ambition of Prof. Benard Ifeanyi Odoh, yesterday received a boost as elders of Ezza nation, endorsed him to contest for the Ebonyi Central senatorial zone, on the platform of the All Progressives Grand Alliance (APGA), even as they gave condition for supporting any governorship candidate in the state. Addressing journalists at Okpoku—Ezekuna in Onueke local government, Chief Nwali Ewah, the spokesman for the elders in NdiOchimkpuru, comprising all Clan Heads of the twelve tribes of Ezza nation, disclosed that the people o Ezza nation have endorsed Prof Odoh for senate because

of his numerous contributions to the development of the zone. Nwali Ewah further enjoined all contestants on different political platforms to support the cause of Ezza man, retaining the Ebonyi Central senatorial zone seat especially when all other positions have eluded the largest ethnic group in Ebonyi state. “We the Ochimkpuru, the elders and representatives of the ancestors of the great Ezza Ezekuna after deliberating on some salient issues bothering on the unity and strength of Ezza nation do make this solemn representation on behalf of the entire clan and beyond” We are also using the solemnity of this auspicious political era to nip in the bud the dangerously but divisive political electioneering cam-

paigns going on across the state and Nigeria in particular and to call on all Ezza Ezekuna sons and daughters residing in various parts of the state to adhere strictly to this resolution as it affects the unity and progress of Ezza nation by voting for our dear son, Prof Benard Odoh who is running on the platform of the All Progressives Grand Alliance, APGA” The 98 year old Nwali Ewah, further called on all participating sons and daughters of Ezza nation across the state to remember that the unity of Ezza nation remains non negotiable, hence the resolution to maintain their political pride as regards to the Ebonyi Central Senatorial zone especially after loosing all the elective positions at the National Assembly.

Civil servants declare support for Jonathan Steve Uzoechi OWERRI

he Association of Heads of Federal Ministries and Parastatals in Imo State, yesterday gave its backing to the second term bid of President Goodluck Jonathan, saying it has passed a vote of confidence on the President for the impact of his administration transformation agenda in the state. The Association in a 12-point communiqué issued at the end of its meeting with the Minister of State for Education, Prof. Viola Onwuliri, said it believed in the presidents massive infrastructure in Imo in particular and the nation in general. The communiqué signed by the Chairman of the committee Mrs Chisara Egwim-Chima and the Secretary, Clif-

ford Mbakaogu noted that the transformation agenda of the president in the educational, agricultural and other sectors speak louder than any campaign rally speeches. They pointed out that following the denial and total misrepresentation of Federal Government projects in Imo, it would hence forth ensure federal projects are well labelled, published and commissioned by Federal Government officials. It urged Heads and Chief Executives of ministries, departments and agencies (MDGs) to as a matter of urgency to showcase federal projects and interventions to benefitting communities. It urged its members to ensure they obtained the permanent voters card in order to vote wisely during the February election.

he Honourable Minister of State for Education and Deputy Coordinator, PDP Presidential Campaign in the state, Professor Viola Onwuliri has said that the President, Dr Goodluck Ebele Jonathan will win in Imo State in the forthcoming February 14 polls. Speaking recently in Owerri, when she addressed a group of Imo professionals, she said that victory for Mr President in Imo would be monumental. "For the avoidance of doubt, Imo State is and remains a PDP stronghold. Recall that Imo PDP delivered over one million votes to President Jonathan in 2011, and nothing whatsoever has changed since then to suggest that Imo people will vote otherwise. Onwuliri stressed that "aside reclaiming the government house from the clueless APC government under Rochas Okorocha on February 28, Imo PDP shall first and foremost deliver hundred per cent votes for President Goodluck Jonathan on February 14 to further prove that Imo remains a PDP state"

News

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

SOUTH-SOUTH

NLC, TUC warn Okowa against sacking workers Dominic Adewole ASABA

he Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) yesterday warned the flag-bearer of the Peoples Democratic Party (PDP) in the Delta State governorship race, Ifeanyi Okowa, from sacking workers in the

event of victory in the February elections. The state wing of the congresses at the Labour House in Asaba, were piqued by the all-time dip in the global price of crude oil, which has started affecting Nigeria’s economy. Okowa, who invited the labour leaders to a parley where he reeled out his master plan for the development of the state, got what he did not bargain for.

The sex ratio of women to 100 men in Guam in 2012. Source: Un.org

His target was to reach out to critical stakeholders in the state, including the elders’ council before the February 14 and 28 presidential and governorship elections. While the state NLC Chairman, Comrade Williams Akporeha, lauded him for recognising the pivotal role of organised labour in the state, his counterpart in TUC, Comrade Mike Arinze, came down hard on him.

$41m

The total amount of salary/winnings of Manny Pacquiao (Boxing) for 2014. Source: Forbes.com

He demanded an assurance from him that he would not retrench workers after May 29, if he was elected. Although, Akporeha hailed his workers’ friendly disposition when he was the Secretary to the State Government (SSG) under Governor Emmanuel Uduaghan, guaranteeing him support from the organised labour, he emphasised why workers’

6,549

The number of refugees in Cuba at the beginning of 2010. Source: Blatantworld.com

welfare packages must not be treated with levity. “We are ready to work harmoniously with our political masters under an all-inclusive government for the overall good and progress of our state,” Arinze said. Okowa said although the dwindling fortunes in the oil sector have affected the state, he was determined to strengthen the work-force by building a virile civil service.

7.18bn

The estimated number of the world’s population in August 2014. Source: wearesocial.net

L-R: Rivers State APC governorship candidate, Dakuku Peterside; campaign manager, Victor Giadom and Commissioner, Judicial Service Commission, Rivers State, Ambrose Nwuzi, during an interactive session to announce Dakuku’s roadmap in Port Harcourt…yesterday

Wike blasts Peterside Emmanuel Masha Port Harcourt

he campaign team of Nyesom Wike, the Rivers State governorship candidate of the Peoples Democratic Party (PDP) has distanced itself from the cloning of the blueprint of Dr. Dakuku Peterside, the governorship candidate of the All Progressives Congress (APC). It will be recalled that Peterside had alleged in a briefing that Wike cloned his blueprint shortly after the PDP governorship candidate unveiled his agenda for the people. But Emma Okah, the chairman, Media and Publicity Committee of the PDP campaign team, denied the allegation, describing Peterside as a ‘confused mind.’ He said Wike’s blueprint was “a product of a painstaking effort by highly reputable Rivers’ people after considering the failures of the APC administration in the state.” In a statement, Okah said the blueprint will save the state and its people from the APC gover nment, noting that there “is no difference between Dakuku and Amaechi.” He added: “Our blueprint is a simple way of showing the APC administration the way to go.”

Ex-army spokesman seeks peaceful elections South-South NASS caucus Cajetan Mmuta BENIN

he newly appointed Commander, 4 Brigade of the Nigerian Army, Benin City, Brigadier-General Olajide Laleye, yesterday said the 2015 general election remains a major task for the army as the international community and citizens of the country are looking forward to its success. He said the election

must be conducted in an atmosphere of orderliness and peace even while ensuring the protection of lives and property of all before, during and after the elections. Laleye spoke shortly after he took over from Brig.-Gen. Okwudili Fidelis Azinta, at a ceremony held in Benin City, the Edo State capital. He said men of the Nigeria Army must remain non-partisan during the election to guarantee a free and fair process.

The General said the command would professionally strive towards ridding the zone of criminal elements and ensure the protection of lives and property of the citizens. The former Director, Army Public Relations said: “For me, the 2015 general election is an important task and right from the beginning, when the Nigeria Army was formed, it was apolitical. It does not have affiliation with any political party

and it will never have. “So, for the 2015 general election, the 4 Brigade will ensure that it is free and fair and that security is provided for all,” Laleye said. He assured the people that the command would ensure improvement on the successes recorded by his predecessor through intensified effort at continuing the very credible activities of ridding the state of crime and criminal elements.

Election not do-or-die, says Uduaghan Tony Okuyeme

head of the general election coming up next month, the Delta State governor, Emmanuel Uduaghan, has called on politicians and the electorate to ensure a violence-free election. He said the general election can bring a new Nigeria if everybody works to make it possible. Governor Uduaghan spoke yesterday at the

public presentation of ‘The Pains of a Country,’ a book written by the Deputy Editor, Thisday newspaper, Mr. Eddy Odivwri, in Lagos. “Yes, the 2015 elections can bring a new Nigeria; what I understand by a new Nigeria is a better Nigeria that will provide employment for unemployed citizens. “Honestly, what confronts everybody now - whether you are a gov-

ernor or president - is unemployment. A lot of the things we are seeing now, a lot of the crisis is because of unemployment. “When the young ones are engaged, it will be difficult to get them to be armed robbers or Boko Haram members. But if a person is jobless, that person becomes target for recruitment. So, we need to look into the issue of unemployment,” Uduaghan said. On the issue of vio-

lence during and after elections, Uduaghan said: “As politicians, we are also doing everything possible to ensure that there is no violence. We are talking to ourselves; we are talking to our followers; we are talking to the traditional rulers to reach the followers; we are meeting religious leaders to reach the followers to tell them that there is no need for violence,” the governor said.

challenges INEC on polls

Cajetan Mmuta BENIN

he National Assembly South-South caucus of the All Progressives Congress (APC) yesterday tasked the various security agencies in the country to stick to their rules of engagement and enforce all laws aimed at a free, fair and credible election. He said the security agencies should also ensure the protection of lives and property across the country before, during and after the elections. Members of the body in the House of Representatives also urged INEC to eliminate, to the barest minimum, the problem of logistics as witnessed during the 2011 polls and to ensure that both sensitive and non-sensitive electoral materials are released on time for distribution to the various units such that accreditation also picks up during

the elections. Minority Whip and member representing Orhionmwon/ Uhunmwonde federal constituency in the House of Representatives, Hon. Samson Osagie, stated this while briefing newsmen in Benin City. Osagie said history has beckoned on the nation’s security agencies and that they must not allow themselves to be used by political actors to cause crisis as Nigerians are not willing to compromise anything now. He said: “The security agencies are made up of Nigerians. They should endeavour to ensure that the rules of the game are obeyed and they should enforce all laws regarding the elections. They should avoid being used by the ruling party to cause any upset because Nigerians are not ready, they are not willing to compromise.”

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Cephas Iorhemen Makurdi

he hope of Benue State students studying in the five tertiary institutions owned and operated by the state government to return to class remain dicey and unpredictable as the six-monthold strike by the academic unions of the institutions continued unabated. New Telegraph gathered that the strike, which started in July last year, has paralysed academic activities in such institutions with no efforts by the state government to ensure the return of nor-

32.6m

The total population of women in France in 2012. Source: Un.org

News 49

NORTH

Tertiary institutions’ strike paralyses academic activities in Benue

mal academic activities in the affected institutions. The five institutions affected by the strike include: College of Advanced and Professional Studies (CAPS), Makurdi; Akperan Orshi College of Agriculture, Yandev-Gboko; College of Education, Katsina- Ala; College of Education, Oju and Benue State Polytechnic, Ugbokolo, have been on indefinite strike for seven months over un-negotiated cut in last year’s July salaries by

the state government. Speaking on the issue with our correspondent, Secretary, Academic Staff Union of Tertiary Institutions in the state, Comrade Emmanuel Tor Orpin, said the lecturers apart from demanding for the settlement of their accumulated 2013/ 2014 medical bills, are also asking the government to keep faith with the refund of the money they invested in the National Housing Scheme (NHS) as agreed, and to refund the

The number of consecutive years Real Madrid had topped the list of the highest earning clubs in the world. Source: Goal.com

eleven months excess tax deductions. Orpin, who wondered why government has become lackadaisical on such issues, said resumption of lectures in the affected institutions is not feasible until their demands are met. He called on Governor Gabriel Suswam to consider the plight of the students and act fast in settling the issues as agreed, to give hope to the institutions and the students.

24.7m

The approximate number of people living with HIV in Sub-Saharan African in 2013. Source: Who.int

The state Commissioner for Education, Mrs. Elizabeth Ugoh, could not pick her calls when our correspondent called to get her reaction on the matter, but a source in the ministry, who did not want his name mentioned, linked the delay in the implementation to the global economic crunch suffered by the state, assuring the workers that very soon, government would resolve the problem.

12.4

The number of fixed-telephone subscriptions per 100 inhabitants of developing countries in 2009. Source: Itu.int

L-R: President, National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN), Mr. Oladele Hunsu; former Kaduna State governor, Alhaji Balarabe Musa; Vice-Chairman, Nigeria Labour Congress (NLC), Mr Issa Aremu and Chairman, Total Steel Limited, Alhaji Hussaini Abdulrahaman, at the public presentation of books entitled” Reflections on Labour and Trade Unions, in Kaduna …yesterday

Ali carpets Maku for dumping PDP Cheke Emmanuel LAFIA

he Director General of President Goodluck Jonathan Campaign Organisation, Dr. Ahmadu Ali, yesterday lambasted the former Minister of Information, Mr. Labaran Maku, for dumping the party for the All Progressives Grand Alliance (APGA). He said the former minister benefited a lot from the Peoples Democratic Party (PDP) before his un-ceremonial exit from the party. Ali spoke yesterday at the presidential campaign rally of the party held at the Lafia Township Stadium, Lafia, the state capital. He called on the people of the state and Nigerians at large to shun insinuations making the rounds that President Jonathan is in support of Maku’s gubernatorial aspiration on the platform of the All Progressives Grand Alliance (APGA). He said: “I want to call on you and others Nigerians not to agree with the insinuation that our president is supporting Mr. Labaran Maku for his governorship ambition on APGA’s platform. President Jonathan is in the PDP and will never support any candidate outside the PDP. “Mr. President is here today, let Labaran come out to defend his claims if it true, but he knows it is not true and he wants to divide the vote of the PDP in the state, so that our party will lose. But by the grace of God, we will win all positions during the elections.

Refund our money, Ahmed, Saraki tell president Jonathan’s commendation Biodun Oyeleye Ilorin

wara State Governor, Alhaji Abdulfatah Ahmed and the leader of the All Progressives Congress (APC) in the state, Senator Bukola Saraki, yesterday called on the Federal Government to pay the balance of what the state government expended on the con-

struction of KosubosuChikanda-Ilesha-Baruba road. Ahmed and Saraki made the call during APC’s campaign rallies in Alapa, Ballah, AbotoOja and Afon in Asa Local Government area of the state. They said the payment will enable the state embark on the construction of other federal, but strategic roads, in the state.

They noted that the Kwara State government during the tenure of former Governor Bukola Saraki, constructed the road to alleviate the suffering of the people of Baruten Local Government, when the Federal Government failed to work on the road. Saraki, who is the chairman of the Senate Committee on Environment and Ecology, said

it was unfortunate and disturbing that for many years the Federal Government has remained unwilling to offset the balance of N4 billion of the cost of the federal road project. The former governor also decried what he called “the non-presence of federal projects in Kwara State in the last six years of Dr. Goodluck Jonathan’s presidency.”

SDP guber candidate pledges to upgrade Taraba Airport Sabiu Mustapha JALINGO

he governorship candidate of the Social Democratic Party (SDP) in Taraba State, Chief David Sabo Kente, has pledged to upgrade Jalingo Airport to international standard, if elected in the coming elections. Kente, who made this

known during his campaign rally, said upgrading the airport would boost the revenue profile of the state. He said he would ensure that all categories of planes operate at the airport, contrary to the current situation where only chartered flights could land there. The SDP candidate said government func-

tionaries going to Abuja on official assignment always had to travel to Yola and take a flight to the federal capital territory. In his remark, Mr. Peter Achagwa, the state SDP chairman, urged the people to vote for the party for justice and prosperity. On his part, the Director General of David Kente Campaign Organ-

isation, Alhaji Abdulazeez Ibrahim, said Kente would grant local government councils financial autonomy, if elected. The director general assured the people that the SDP government would ensure that local government councils reclaim their lost glory in which capital projects were executed by them and not by the state government.

excites Ahmed

Biodun Oyeleye Ilorin

wara State governor, Alhaji Abdulfatah Ahmed, yesterday said the acknowledgment of peace in Kwara State by President Goodluck Jonathan, which is helpful to thriving businesses in the state, is a product of his administration’s efforts and commitment to the wellbeing of the people. Jonathan had during his campaign visit to Ilorin, the Kwara State capital on Monday, noted that Kwara State has not been giving the Federal Government challenges in the area of insecurity, saying the peace in the state has helped businesses and investments. Ahmed, while addressing the All Progressives Congress (APC) supporters during his campaign tour of Asa

Local Government, said his administration takes the credit for the presidential commendation. He said: “Mr. President’s accolades in the area of peaceful co-existence in the state are also a plus for the APC government in the state. It’s the state government that makes the state peaceful through the implementation of people-oriented programmes and policies. “If things are not done properly or people’s expectations are not met, there will be agitation, which will eventually lead to restiveness. But thank God, in Kwara, we have a government that has passion for meeting the yearnings and aspirations of the people.” The governor also donated 10 boreholes and electric transformers to some communities in the local government during the visit.

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WORLD | News

Radisson Blu shuts down operations for renovation

Britain braces for EU exit’s election

l Disengages workers

he five-star, water-front Radisson Blu Anchorage Hotel, Victoria Island, Lagos, has shut down operations to conduct extensive renovation of its facilities. That is as part of its Management’s commitment to retaining standards and remaining the hotel of first choice for guests visiting Lagos, for business or pleasure. According to a statement by Anchorage Leisures Limited, owners of the hotel, the extensive

renovation of its facilities will “cover areas such as power generation, cooling system as well as other critical equipment”. “The magnitude of the renovation work has, however, necessitated shutting down of business operations for the duration of the renovation”, the statement further indicated. The management of the firm has also said that the renovation activities have led to disengagement of staff, given the required duration for the renovation.

The firm, however, stressed that it would abide by all contractual terms by ensuring payment of all that is due to the staff. Maintaining its appreciation for its people, it noted its commitment to welfare of its staff, stressing,: “Even when we experienced very low patronage during the Ebola crisis in Nigeria, we retained all our staff. However, the magnitude of this renovation work has compelled a total shut down of business activities”.

ritain yesterday marked 100 days until one of the most unpredictable elections in memory, as Prime Minister David Cameron fights to retain power and call a referendum on European Union membership. A fragmented vote in which no party wins an overall majority is seen as the most likely result, meaning smaller parties will probably have to prop up either Cameron’s Conservatives or the main opposition Labour party. If the Conservatives

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

win outright on May 7, Cameron has said he will seek to renegotiate Britain’s relationship with the EU before calling an in-or-out referendum on a “Brexit” by the end of 2017. But experts predict that neither the Conservatives nor Labour will secure a majority in the 650-seat House of Commons. “Like everyone else, I have no idea,” Professor Tim Bale, chair in politics at Queen Mary, University of London, told AFP. “The only prediction is that it’s incredibly unlikely that any of

the main parties will end up with an overall majority.” Instead, Britain could face days of uncertainty, potentially unsettling financial markets, as the parties hold talks on how to stitch together a government. For the past five years, the Conservatives have governed with the centrist Liberal Democrats in Britain’s first coalition government since World War II. Opinion polls currently put the Conservatives and centre-left Labour almost neck-and-neck.

Why Jonathan, Buhari’s pact will fail, by APC chieftain Clement James Calabar

he All Progressives Congress (APC) has said the pact recently entered into between President Goodluck Jonathan of the Peoples Democratic Party (PDP) and General Muhammadu Buhari on non-violence election was bound to fail. The National Vice-

Chairman, South South of the party, Prince Hilliard Eta, while speaking to Journalists in Calabar yesterday, said PDP was not interested in keeping to the spirit of the pact; hence the recent drafting of the military to take over the Adokie Amasiemaka stadium in Port Harcourt. He said: ‘’Whenever the military are deployed in such capacity and orientation, it means

a war situation is at hand. What Jonathan did in deploying military might to take possession of the Adokie Amasiemeka stadium, for whatever reason, as against the wishes of the state government and the people of Rivers State, shows the desperation the PDP Presidency has introduced into the build-up to the February election which may not end us well as a country.’’

Election violence: Hold opposition responsible, says Moro Johnchuks Onuanyim Abuja

he Federal Government yesterday stated that the opposition political party should be held responsible for any election violence in the next month’s general elections. Minister of Interior, Comrade Abba Moro stated this in Abuja, while hosting the members of the National Human Rights Commis-

sion, led by its Executive Secretary, Mr. Ben Angwe at the headquarters of the ministry. According to him: “The President will not attack himself. There have been attacks on the president and his vehicles in various parts of the country. However, the president will work to ensure peace. “Mr President will respect the peace accord that was signed with the opposition and will do what is necessary to protect lives and property of citizens before during and after the

election”. The minister told the delegation of NHRC that the Nigeria Security and Civil Defence Corps (NSCDC) have already been deployed to various formations across the country as a security measure to stamp out any criminality. Speaking earlier, the Executive Secretary of the Commission, called on the minister to assure Nigerians of the preparedness of the ministry to ensure peaceful conduct during the election.

Ekhomu calls for postponement of elections in North-east Isioma Madike

Security Expert, Dr. Ona Ekhomu, has called on the Federal Government to postpone the February 2015 elections in the North-Eastern states of Adamawa, Borno and Yobe. This, he said, would allow the military complete counter-terrorism operations in the zone and reduce the loss of lives and wanton destruction of property.

Reacting to the declaration by the European Union Election Observer mission that they will keep off the North-east conflict zone, Ekhomu said: “It is obvious that the three North-Eastern states of Borno, Adamawa and Yobe are not secured enough for citizens to exercise the right to vote. “Politicians must not ignore the obvious grave threat that terrorism poses to Nigerian Citizens in their quest to gain political power. If the North-East

zone is not safe enough for EU observers, then it is not safe for free and fair elections.” He said that 75 per cent of the local governments in Borno State were under the control of Boko Haram terrorists. “Rather than conduct a ‘fraudulent’ poll in the remaining seven local government areas of the state, all efforts must be made to flush out the terrorists from Borno State,” the security expert said.

L-R: Deputy Chief Observer, Hannah Roberts, Chief Observer, European Union Election Observation Mission, Santiago Fisas and Press Officer, Eberhard Laue, during a press conference on Elections in Abuja...yesterday

Eight dead as gunmen storm Tripoli

t least eight people, including five foreigners, were killed when gunmen stormed a luxury hotel in the Libyan capital Tripoli yesterday, a local security official said. It was not immediately clear who staged the attack, but the SITE monitoring service said a militant group claiming affiliation with Islamic State had claimed responsibility. Islamic State has seized swathes of Syrian and Iraqi territory. Gunfire could be heard inside the Corinthia Hotel, Tripoli’s most prominent

hotel where government officials and foreign delegations often stay. There were conflicting reports about the exact number and the identity of those killed as the gunmen battled security forces. “Eight people were killed during the storming of the hotel... Five foreigners, two of them are women. (Also) one security man and two of the attackers,” Mahmoud Hamza of the Tripoli security force told local al-Naba television. Earlier officials said three security guards had been killed in a car bomb blast just before the gun-

men stormed the hotel. It was not immediately clear whether the three were among the eight deaths reported by Hamza or were additional casualties. Hamza did not give the nationality of the foreigners killed. Other officials gave conflicting accounts of whether any foreign nationals had been killed in the attack. Most foreign governments closed their embassies and pulled their staff out of Tripoli after fighting between two rival factions erupted last summer. But some diplomats, business and trade delegations still visit the capital.

Attempts to rewrite history ‘unacceptable’, says Putin at Auschwitz 70th anniversary

resident Vladimir Putin yesterday slammed what he called attempts to rewrite history at a Moscow ceremony marking the 70th anniversary of the liberation of Auschwitz. Speaking at a Jewish museum in Moscow, he said Nazi Germany’s crimes including the Holocaust could be neither forgiven nor forgotten. “Any attempts to

hush up these events, distort, re-write history are unacceptable and immoral,” said Putin, who is conspicuously staying away from the main events in Poland in a gesture laying bare divisions with the West over the war in Ukraine. In the run-up to the ceremony Poland angered Moscow when its foreign minister, Grzegorz Schetyna, said it was Ukrainian soldiers

-- rather than the Soviet army -- who liberated the camp. Moscow blasted Warsaw for twisting history for political ends. Putin has repeatedly condemned the West for what he calls attempts to belittle the Soviet army’s role in the victory over Nazi Germany in 1945 and to glorify Nazi collaborators in eastern Europe and ex-Soviet republics such as Ukraine.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Sport News

International Sport

Africa T/tennis: It’s all Nigerian final in doubles

AFCON 2015

Fabregas: I killed Diego Costa for wasting my pass

Sport

Amokachi queries Katongo snub

Did you know? That first keeper to score a goal was Peter Schmeichel in 2001 for Aston Villa

Australian Open: Murray in semis, Nadal out B ritain’s Andy Murray ended the run of home favourite Nick Kyrgios with a brilliant display to reach the Australian Open semifinals. Murray, 27, outsmarted the 19-year-old to win 6-3 7-6 (7-5) 6-3 and set up a clash with Tomas Berdych on Thursday. Kyrgios threatened a comeback in the second set tie-break but two superb lobs helped the Scot to a

Murray

crucial lead. Also, Tomas Berdych ended a 17-match losing streak against Rafael Nadal as he outplayed the Spaniard to reach the Australian Open semifinals. The Czech, seeded seventh, won 6-2 6-0 7-6 (7-5) and will face Murray in the last four. Murray is now through to his fifth Australian Open and 15th Grand Slam semifinal.

In the last four he will take on seventh seed Berdych, now working with Murray’s former coach Dani Vallverdu who left the Briton’s team in November. While Berdych enjoyed a landmark win over Rafael Nadal in his quarterfinal, Murray overcame the great new hope of Australian tennis - and a packed and expectant crowd on Rod Laver Arena. The dominant force from

the outset, particularly on serve, Murray used a variety of spins and angles to keep Kyrgios off balance. When Kyrgios threatened a fightback, the Briton was able to find a big serve or a winner to halt the momentum. Two terrific lunging returns set up a break point in game six and a sliced backhand drew the error when Kyrgios went for too much.

Fanny Amun

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sports

Ifeanyi Ibeh Sports Correspondent

Ajibade Olusesan Sports Correspondent

Charles Ogundiya Sports Correspondent

Eaglesneed a foreigncoach –FannyAmun Ajibade Olusesan

ormer Secretary General of the Nigeria Football Federation, Fanny Amun, has advised the soccer ruling body to hire a foreign coach for the Super Eagles. The national team has been without a substantive handler since

the team failed to make it to the 2015 Africa Nations Cup holding in Equatorial Guinea. It is believed that topshots in the nation’s corridors of powers are forcing NFF to consider retaining Coach Stephen Keshi. But in an interview with our correspondent the Super Eagles former assistant coach said that the NFF must do what is

right and in the interest of the country by hiring a high profile foreign coach for the team. He said that retaining Keshi was like taking steps backward . He added that a new man would rejuvenate the team. “I am not saying we should sack Keshi but what the team needs now is a good foreign coach. I

Wilfred Agbonavbare dies at 48

don’t know why there should be objections to that because there is nothing wrong with hiring a coach from abroad. We have some of our coaches who have worked abroad. We have one in Chelsea: Mike Emenalo is a technical director in a top flight club in Europe so getting a good coach abroad is the right thing to do for now,” he said. The former Golden Eaglets coach said that NFF could retain Keshi but not as the handler of the main team. He said there was nothing wrong if the federation raised a strong home-based team and gave that responsibility to Keshi to handle. He said that recent events in Nigerian football made it imperative for the federation to constitute a team that would serve as a feeder for the main team. And he said Keshi could do the job instead of asking him to continue with the main team. “If anybody wants you to retain Keshi, retain him but you can give him another responsibility. Let us have a strong standby national team comprising wholly home-based players and give Keshi that one to handle, while the foreign coach handles the main team. Then, we can have two of them work together to groom a strong national team,” Amun said.

>> P.52

Wilfred Agbonavbare Tributes

SPORT

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

Agbonavbare dies at 48 F Emmanuel Tobi

ew hours after receiving some financial support from his former Spanish club, Rayo Vallecano, ex-Nigeria goalkeeper, Wilfred Agbonavbare, on Tuesday, died from cancer at the age of 48. Rayo Vallecano, through a dedicated campaign tagged #FuerzaWilfred (Wilfred Force), were able to raise 21,106.90 euro (over N4.5m) at the weekend and, on Monday, handed the bulk of the money to Agbonavbare, who was receiving treatment at a hospital near Madrid.

News of his death was communicated by the La Liga club in an official statement on Tuesday morning. “Rayo Vallecano informs that our former player Wilfred Agbonavbare has died in the early hours of this morning, at the Hospital Principe de Asturias in Alcala de Henares,” the statement said. “The club will communicate, as soon as possible, and with the permission of his family, the place where a last goodbye can be given.” Agbonavbare, who played at Rayo Vallecano from 1990 to 1996, made 76 La Liga appearances for Rayo, the most by a goalkeeper at the Madrid-based club.

NFF in shock – Akinwunmi ice President of the weeks ago,” said AkinV Nigeria Football wunmi on Tuesday. Federation, Seyi AkinHe added: “This is wunmi, has expressed the federation’s deep grief at the death of former Super Eagles goalkeeper Wilfred Agbonavbare. Also known as the ‘Flying Cat’, the former Super Eagles number one goalie’s affliction with cancer was reported a couple of weeks ago, and the news was broken that he died in the early hours of Tuesday in Spain. “This is very sad coming only two days after the death of Coach Musa Abdullahi. The NFF became aware of Agbonavbare’s affliction only a couple of

another true hero gone to rest too early. Agbonavbare was a patriot of the first grade and his contributions to Nigeria football on-field can never be forgotten.” Agbonavbare, who started his career at Benin City-based Rubber Board FC before joining New Nigeria Bank FC, also based in the Edo State capital, was a member of the Super Eagles’ squad that won the Africa Cup of Nations in Tunisia in 1994, and also made the final squad to Nigeria’s debut appearance at the World Cup finals in USA Late Agbonavbare the same year.

Super 6: Flying Eagles, U-23 Eagles excite Pinnick

l Nigerians to support Dream Team in Tunisia

Ifeanyi Ibeh

And his close relationship with the club was brought home by players from Rayo and neighbours Atletico Madrid holding up a banner of support before last Saturday’s La Liga meeting. Many in Spain’s football community shared their condolences with Agbonavbare’s three sons and friends on hearing Tuesday morning’s news, with Spain’s official players union among those who took to Twitter to share in their grief. It will be recalled that officials of Rayo Vallecano thought it wise to also use part of the funds raised to fly in Agbonavbare’s three children from Nigeria.

resident of the Nigeria Football Federation, Amaju Pinnick, has expressed satisfaction with the performance of both the national U-20 and U-23 teams at the ongoing LMC Super 6 taking place in Abuja. Both teams are using the pre-season tournament to fine-tune their preparations for their upcoming continental engagements, and have so far won their opening two games of the tourney which also has in attendance four Nigeria Premier League sides – Kano Pillars, Enyimba, Warri Wolves and Dolphins. While the Flying Eagles defeated Enyimba 2-0 in their opening game before edging Kano Pillars 2-1 on Monday, the U-23s got the better of Warri Wolves 2-1 on Saturday before beating Dolphins 1-0 two days later. Pinnick who is currently on assignment at the ongoing Africa Cup of Nations in Equatorial Guinea on Tuesday took to social media to express his satisfaction with their displays in Abuja. “I am really impressed

with the positive progression of our youth teams, U20s and U-23s in the Super 6 tournament in Abuja,” read Pinnick’s post on Facebook. Meanwhile, Flying Eagles defender Prince Izu Omego is out of danger following a head injury in Monday’s Super 6 match against Kano Pillars. The national team’s doctor was quoted as saying that the defender was “much better” although he was scheduled to undergo a scan “to further ascertain the extent of the injury.” Similarly, the Ambassador of Nigeria to Tunisia, His Excellency Dr. Joseph Apeh Omede, has revealed that the Nigerian community based in Tunis will turn up in large numbers at the Stade el Menzah on Wednesday to cheer the U-23 National Team, Dream Team, in the second of their two international friendly matches against the U-23 National Team of Tunisia. “We have a good number of Nigerians in Tunis and the leaders are working on mobilising our people in this city to storm the Stadium to cheer the boys. They will be ready to give total support to our boys.”

Sad Nigeria abandoned Agbonavbare – Taju Disu Vincent Eboigbe

ormer Nigeria international, Taju Disu, believes recently deceased former Nigeria goalkeeper, Wilfred Agbonavbare, was abandoned and has taken a swipe at the country’s authorities for not doing enough for the former Rayo Vallecano of Spain star. Disu and Agbonavbare were members of the very first Nigerian team to take part in a FIFA organised tournament at the 1983 FIFA U-20 World Youth Championship, in Mexico. And for their feat, the players were promised, amongst other things, scholarships by the Shehu Shagari-led government. These promises were however not fulfilled by Shagari’s government and subsequent administrations, and Disu said: “Wilfred was a very good and determined person, he helped Nigeria in so many international matches but when he needed help from Nigeria he was ignored and abandoned and the worst has now happened to him. He has lost his life, shame to the authorities, the powers that be.” He added: “Some of the last statements of Wilfred had to do with his annoyance with the federal government for not fulfilling their promises to the 1983 Flying Eagles team. The federal government then promised the team after qualification that they would award a-four-year scholarship to every member of the team as a majority of us just left school while some were still taking their WAEC exams. But after the junior World Cup the federal government refused to redeem its pledge to the team. “Wilfred said he would be happy if President Goodluck Jonathan could redeem the promise so that if anything happened to him his children would benefit from the money. Wilfred is gone now but his children are around to be taken care of.”

Africa T/tennis: It’s all Nigerian final in doubles Ajibade Olusesan

igerian team is guaranteed its first gold medal today as the 2015 International Table Tennis Federation Africa Championship witness all Nigerian final in the men doubles. The duo of Aruna Quadri and Kazeem Makanjuola will face Ojo Onaolapo and Jide Ogidiolu in the final of the event today. 11th seeds Ojo Onaolapo and Jide Ogidiolu defeated second seeds Khalid and Omar Assar 7-11,11-9,5-11,11-9,5-11,12-10,11-2 in the semi-final while Quadri and his mate defeated top seeds Lashin El-Sayed and Saleh Ahm-

Quadri

edof Egypt 11-9,8-11,11-7,11-9,611,10-12,9-11. Onaolapo and Ogidiolu have masterminded biggest upsets in the event as they followed up their third round win over

Egypt’s Ahmed Nadim and Mohamed Tarek El-Sobky who were no.6 seeds, with another victory over third seeds Suraju Saka and Saheed Idowu, the no.3 seeds in the quarter final. Their semi-final win over the Assar brothers was the biggest shock of the tournament so far. Meanwhile, the women players could not sustain their run leading to the quarterfinal as the duo of Funke Oshonaike and Olaide Atinuke lost to Han Xing and Onyinechi Nwachukwu of Congo Brazzaville while Cecilia Akpan and Offiong Edem were also defeated by Dina Meshref and Nadine El-Dawlatly of Egypt.

Weightlifting coach targets future champions at Ibile Games

Charles Ogundiya

agos State Weightlifting coach, Nkechi Emechete, has revealed that the 2015 Ibile Games is aimed at discovering future champions while commending the Lagos State Government for organising sports programme for secondary school students in the state. Emechete added that competition has motivated the association’s coaches to intensify their developmental programme in discovering and nurturing students to stardom while revealing that 10 young weightlifters have been discovered. “This competition is an ave-

nue for grassroots development for upcoming athletes. I am so delighted that the students engage in sport at early ages as it will enable the association coaches to expose them to the basic rudiments of weightlifting,” she said. The coach is optimistic that the students with a thorough training programme will win gold medals at the forthcoming National School Sports Festival. She however said the discovered students would not be paraded at next National Sports Festival in Calabar, Cross River State because they are not yet ripe for competition of that mag-

nitude. She appealed to principals of secondary schools in the state to pave the way for the students to attend the association’s training programmes. Meanwhile, as part of efforts to encourage dedication, efficiency and productivity among staff, Lagos State Sports Council has rewarded outstanding Sports Officers and others for the year 2014. Speaking during the Award ceremony held at the Rowe Park Sports Centre, Director of Sports, Dr Kweku Tandoh, advised the awardees to redouble their efforts and continue to excel.

SPORT

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Equatorial Guinea 2015 AFCON

Amokachi queries Katongo’s snub Charles Ogundiya

uper Eagles Assistant coach, Daniel Amokachi, has queried Zambia head coach, Honour Janza, for not including the Chipolopolo’s former captain, Christopher Katongo, in his team for the Africa Cup of Nations in Equatorial Guinea. Amokachi told SuperSport on Monday night after Zambia’s Nations Cup exit that he was surprised Katongo was left out despite his experience with five AFCON outings under his belt. The 2012 Nations Cup winning captain had been banished from the Zambia fold since October after an alleged fall-out with Janza. Zambia were eliminated from the competition after finishing bottom of Group B with two points. “The player they missed the

most is here in the studio with us and he is 33 years old and he has been to five AFCON as captain. This one would have been his sixth,” Amokachi said. “He is still playing, he is not injured. If he was injured I would understand, if he didn’t have a club I would understand because some players have been there at 33 years and more. “I think Janza got it very, very wrong. For me I am not happy seeing him here in the studio.” Amokachi and Katongo are working as Nations Cup studio analysts for SuperSport.

outh Africa’s Bafana Bafana on Tuesday crashed out of the ongoing Africa Cup of Nations in Equatorial Guinea after finishing bottom of Group C following a 2-1 defeat to Ghana’s Black Stars, who progressed to the quarterfinals of the tournament. Also through to the last eight are the Desert Warriors of Algeria who secured a 2-0 win over Senegal’s Teranga Lions in the group’s other game. The Black Stars came from a goal down to defeat the South Africans with Andre Ayew’s 83rd minute winner proving decisive for Avram Grant’s side, who finished with six points, same as the Algerians who finished in second place having earlier lost 1-0 to the Ghanaians.

Results/Fixtures Senegal 0-2 Algeria

Wednesday January 28 Guinea ? - ? Mali

7:00

Lubambo Musonda of Zambia battles with Jorge Djaniny Semedo of Cape Verde

DR Congo’s captain to miss quarterfinal tie

R Congo captain Youssouf Mulumbu will miss Saturday’s Africa Cup of Nations quarterfinal against Congo. The 28-year-old missed Monday’s draw with Tunisia with a hamstring injury and is again expected to sit out the last Chancel Mbemba of DR eight match. “The medical staff are Congo shields ball from Ferjani Sassi of Tunisia working hard to make

Transfer News Eto’o completes move to Sampdoria

talian club Sampdoria have completed IEto’o the signing of Everton striker Samuel on a free transfer, Sky Sports has

confirmed. The Cameroon international successfully underwent a medical over the weekend and joins Sampdoria, currently fourth in Serie A, after spending only five months at Goodison Park where he made 20 appearances in all competitions and scored three goals. He had previously been released by Chelsea, where he spent last season.

Lyon face anxious wait over Lacazette

Lyonnais face an anxious Odrelympique wait to find out the extent of AlexanLacazette’s hamstring injury ahead of

two crucial weekends in Ligue 1. The 23-year-old striker has been an integral part of his club’s rise to the top of the table with 21 goals in 22 games, but limped out of their 2-0 win over Metz on Sunday. “Alexandre Lacazette, replaced in the 34th minute of Sunday’s Ligue 1 match between Olympique Lyon and Metz, is suffering from a minor detachment of the left hamstring, without any complications,” a club statement read.

less than pleased when Costa failed to convert one of his passes in the recent 5-0 thrashing of Swanswa City, even though he notched three assists at the Liberty Stadium. “I remember assists like a goalscorer remembers

sure I am back playing again,” said the West Brom midfielder, who was injured against Cape Verde Islands. “But I trust my teammates to qualify us for the semi-finals and then I will play another game in this tournament.” DR Congo qualified for the knockout stages on goals scored to reach the last eight for the first time since 2006.

CAF moves matches to Bata, Malabo C

AF Executive Committee has agreed to relocate AFCON 2015 quarterfinal matches 26 and 27 respectively to Bata and Malabo. Initially, quarterfinal match NO. 26 was scheduled for Ebebiyin on January 31, but will now be played at the Bata Stadium the same day. Similarly, the quarterfinal match NO.27 that was scheduled for Mongomo on February 1, will be played at the Malabo Stadium the same day and at the same time. The newly installed pitches in Ebebiyin and Mongomo have been very satisfactory, allowing free flowing play during the group stages, and this despite having been installed only about one month ago. However, these two pitches have been adversely affected by combination of wear and tear from the six games played and the unstable weather conditions seen lately.

Australian Open: Murray rates Berdych high

ndy Murray says Tomas Berdych is “slight favourite” for their Australian Open semi-final as he is being helped by the Scot’s ex-coach Dani Vallverdu. Murray, 27, parted company with Vallverdu in November, allowing him to link up with seventh seed Berdych. “Dani knows my game inside out. I would expect he would come up with a great game plan,” Murray told BBC Sport. “It should be perfect with how much time

Fabregas: I killed Diego Costa for wasting my pass helsea midfielder Cesc charts for total chances cre- goals. I have a soft spot for C Fabregas says he covets ated. them. The pass I was disapassists like strikers covet And he admits he was pointed that it wasn’t a goal goals, and says he “killed” Diego Costa for wasting one of his trademark throughballs. Fabregas has laid on 15 goals for his team-mates in the Premier League this season, seven ahead of his closest rival, and tops the

Ghana send South Africa packing

l As Algeria ends Senegal’s dream

S’Africa 1-2 Ghana

Cameroon ? - ? Ivory Coast 7:00

was the other day against Swansea,” he told The Telegraph. “I hit a volley to leave Diego one‑on‑one with the goalkeeper and he didn’t score, and I killed him afterwards because it could have been one of my best ever.”

I’ve spent with Dani. He knows my game probably better than anyone.” The British number one, who is the sixth seed in Melbourne, added: “I think it’s a huge advantage. With the way Tomas has been playing, I would expect that he would go into the match probably as the slight favourite.” Murray had earlier played down Vallverdu’s influence during his news conference after the 6-3 7-6 (7-5) 6-3 win over Nick Kyrgios in the Murray quarter-finals.

Don’t ban Real Madrid –Barcelona boss B arcelona know what a transfer ban feels like. Apparently, the club doesn’t even want hated rival Real Madrid to know the feeling. The 10-time European champions are currently under investigation for breaching FIFA rules regarding the transfers of players under 18, according to Joaquin Maroto of AS. That’s the same violation that earned Barca a transfer ban. But in a rare display of empathy be-

tween two long-standing enemies, Barca president Josep Maria Bartomeu told Catalan Radio Station RAC 1 he doesn’t want to see Madrid punished: “I want that FIFA re-configure their laws and that Blatter gives the matter some reflection. This could be the Barca Case as was the Bosman Case with the LFP making an official legal complaint about FIFA to the courts. Each club has its own sporting policy. I’m not sure what Real Madrid’s is.”

WEDNESDAY, JANUARY 28, 2015 NEW TELEGRAPH

The unlawful Anambra House Law

n Tuesday the 20th day of January 2015, the Anambra State House of Assembly purportedly passed into law a bill prohibiting political aspirants whose names did not appear on the final list of candidates cleared by the Independent National Elections Commission (INEC) to stand for elective posts in the February 2015 general elections from campaigning or soliciting for votes. The Bill titled “Breaches of the Peace and Unlawful Assemblies Law, purportedly took immediate effect from January 20, 2015. Section 3 (1) of the said Law provides that “A person shall not advertise, publish, and solicit for votes for or otherwise engage in any campaign for himself or for a person whose name was not duly published by INEC or ANSIEC or any other electoral body within Nigeria as a nominated person for any election within Anambra State.’ Section 3[2] also provides that any person who acts in contravention of section 3(1) of the Law is declared to have engaged or to be engaging in an unlawful assembly with intent to cause public disorder and breaches of public peace. The law goes further to provide that ‘Any person who engages in unlawful assemblies or acts in such a manner as to cause public disorder and breach of public peace as referred to in subsection [2] of this Section commits an offence and is liable on summary conviction to a fine of N1, 000,000 {one million naira] or to a term of one year imprisonment or to both such fine and imprisonment.’ The proponents of the Bill passed into law claimed that the bill will solve a lot of problems, especially about candidate impersonation and create the atmosphere for proper campaigns and elections thereby averting chaos in the 2015 polls in Anambra State. I understand the issues that propelled the passage of the law. In the names released by the Independent National Electoral Commission for Senatorial and House of Representatives Elections for Anambra State, INEC indicated that the names are provisional and are on the list by virtue of a Court Order. That means that the Electoral Management Body accepted the names in compliance with the order of a competent court of law. It is a notorious fact that the Peoples Democratic Party in Anambra State is organized in factions. A faction is recognized by the National Secretariat of the Party. One faction is recognized by the Independent National Electoral Commission. Another faction is independent and only recognizes itself. All the factions have candidates for the various strands of elections slated for February 2015. Of course, this trend is not new Anambra State politics. They have a history of nominating and sponsoring multiple candidates in elections. During the November 16, 2013 Anambra Governorship Elections the Peoples Democratic Party had multiple candidates and the Courts cleared the air on the authentic candidate of the party a few days to the election. This is really where the matter ends. What then is the constitutional and legal basis of the “Breaches of the Peace and Unlawful Assemblies Law”? Who vested the Anambra State

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Obiano

Speaker of Anambra State House of Assembly Princess Chinwe Nwaebili

House of Assembly with the constitutional and legal authority to promulgate the law? These are germane issues that must be interrogated for the benefit of the people of Anambra State and the growth of our democracy. This is important because it is dangerous to assume that the members of Anambra State House of Assembly know the issues involved in the actions they have taken and the course of action they embarked upon. Without sounding pedantic and derogatory, I watched the Majority Leader of the House of Assembly, Hon Harford I. Oseke, representing Awka South Two Constituency while he was presenting the Bill. One does not need to be a soothsayer to know that he had nothing to do with the Bill, did not understand the Bill and was lost in the assignment given to him. He stumbled and only managed to go through the motions. What then are the real issues? Nigeria is a constitutional democracy with clear separation of powers between the three arms of government. These are the Executive, the Legislature and the Judiciary. Being a federation, section 4 of the Constitution of the Federal Republic of Nigeria, 1999(as amended) vests the legislative powers of the Federation in the National Assembly for the Federation which shall consist of Senate and House of Representatives. Constitutionally therefore, the National Assembly makes laws for the peace, order and good government of the Federation or any part thereof with respect to all matters in the Exclusive Legislative List to the exclusion of the Houses of Assembly of the States. The National Assembly is also obligated to make laws with respect to matters in the Concurrent Legislative List set out in the first column of part 11 of the second schedule to the Constitution. The State Assemblies on their own part are empowered to make laws for

the peace, order and good government of the State with respect to any matter not included in the Exclusive Legislative List. They can make laws on any matter included in the Concurrent Legislative List set out in the first column of part 11 of the second schedule to the Constitution to the extent prescribed by the said schedule. More fundamentally, section 4(5) of the same Constitution states empathically that if any law enacted by the House of Assembly of a State is inconsistent with any law validly made by the National Assembly, the law made by the National Assembly shall prevail and that other law shall to the extent of the inconsistency be void. Now, item 22 of the Exclusive List places election to the office of President and Vice President or Governor and Deputy Governor and any other office to which a person may be elected excluding election to a local government councilor or any other office in such council under the Exclusive Legislative List. Furthermore, item 11 in the Concurrent Legislative List provides that the National Assembly may make laws for the Federation with respect to the registration of voters and the procedure regulating elections to a local government council. Not only that, item 15(f) of the third schedule to the Constitution gives the Independent National Electoral Commission the power to “monitor political campaigns and provide rules and regulations which shall govern the political parties”. Is the Anambra State House of Assembly in good stead in promulgating the “Breaches of the Peace and Unlawful Assemblies Law” taking into consideration item 15(f) of the third schedule to the Constitution? The law is clear and it is to the effect that “where the Constitution has covered the field as to the law governing any conduct, the provision of the

Constitution is the authority statement of the law on the subject. The Constitution would not have ‘covered the field’ where it has expressly reserved to the National Assembly or any other legislative body the power to expand on or add to its provisions with regard to the subject. Where the Constitution has provided exhaustively for any situation and on any subject, a legislative authority that claims to legislate in addition to what the Constitution has enacted must show, and how, it has derived its legislative authority to do so from the Constitution itself.” Therefore, the Law enacted by the Anambra State House of Assembly is null and void. Even for the purposes of argument and assuming that the Anambra State Assembly legislated on issues covered by the Electoral Act, 2010(as amended) and in the Public Order Act, Cap P42 of the Laws of the Federation of Nigeria 2004, can it be said that they are justified? My answer is no. I therefore assume and I may be wrong, that the Anambra State House of Assembly is aware of the existence of the Electoral Act, 2010(as amended) which is a federal legislation promulgated to regulate the conduct of Federal, State and Area Council elections and for related matters. I also assume that they are aware that sections 31-38 covers issues relating to the submission of list of candidates and their affidavits by political parties, prohibition of double nomination, political parties changing candidates, publication of nominations, withdrawal of candidates, death of candidates, invalidity of multiple nominations, and failure of nominations. I also assume that they are aware that section 87 of the Act deals with nomination of candidates. I also assume that they are aware of the provisions of sections 94-102 relating to conduct at political rallies, prohibition of certain conducts at political campaigns, prohibition of use of force during political campaigns, limitations on political broadcasts etc. Whether aware or not, their law still cannot stand. This is because “the ‘doctrine of covering the field’ will arise and will apply in two distinct situations. These are-(a) where, in the purported exercise of the legislative powers of the National Assembly or a State House of Assembly, a law is enacted which the Constitution has already made provisions covering the subject matter of the Federal Act or the State Law; (b) where a State House of Assembly, by the purported exercise of its legislative powers enacts a law which an Act of the National Assembly has already made provisions covering the subject matter of the State Law”. Even at this, “a State Law which is not necessarily inconsistent with either the Constitution or an Act of the National Assembly but merely covers the legislative field of the National Assembly is not that harmful as it is merely a surplussage. Such a Law is in abeyance and inoperative and could be revived and become operative if for any reason the federal legislation is repealed”. I therefore submit that the “Breaches of the Peace and Unlawful Assemblies Law” of Anambra State is a useless piece of legislation with no legal or constitutional efficacy.

NEW TELEGRAPH WEDNESDAY, JANUARY 28, 2015

Of course, proof that a candidate has requisite qualification should matter The

Gauntlet

LAURENCE ANI

laurence.ani@newtelegraphonline.com 0803 811 4560 (sms only)

ast week, I posted this piece on my Facebook page in the hope of lending perspective to the debate that arose from the suggestion that General Muhammadu Buhari might not be eligible to run for president having not shown sufficient proof, as it were, that he possesses the basic qualification of a secondary school certificate: “No one with presidential ambition should treat questions that scrutinize their capacity as an irritant the way Buhari frequently does.” The brusque manner he addressed the issue at a press conference is indicative of the conceit that has underlined his presidential ambition. His countenance gave the impression of a man peeved that anyone could as much as contemplate holding him to account. It felt almost like he believed the presidential crown were his entitlement and we should consider it a favour that he had deigned to contest. It wasn’t just his mindlessly Orwellian attitude I find tragic; it’s the fact that his shenanigans have been continually indulged as evident in a journalist’s response to my post: “You miss the point; we know when you scrutinise much as when you’re attacking, he wrote.” Knowing how increasingly feral the Buhari fan base has become on blogosphere, I sensibly chose to heed an old counsel from my father to avoid getting a full dose of how ferocious their attack could be: “discretion is the better path of valour”. So I couldn’t point out to my dear friend that glimpsing some mischievous intent is not a sufficient ground to dis-

Buhari

countenance a query that borders on integrity. If this were the case, then nearly all the National Assembly summons - including the ridiculous one issued recently by the House of Representatives inviting the minister of foreign affairs to explain why Nigeria abstained in the vote for Palestine’s statehood - on government officials to explain the basis for some policies would be ignored because they often come with motives that are anything but altruistic. How would Buhari deal with such meddlesome tendencies if - I shudder to think of it - he is elected president? Would his supporters applaud him if he gives a summons by legislators the same disdainful treatment to which he has grown accustomed? That is the danger in the excessively permissive culture which the messianic support for Buhari has bred. It’s a pity though we’re unlikely to get a sense of how damaging the Orwellian ecstasy that fuelled Buharimania has been because I expect the spell createdby this populist balderdash to wear out - as it almost always does - as February 14 draws near. The demand that all doubts relating to Buhari’s certificate is satisfactorily dispelled is not essentially because those insisting on that believe having a secondary school certificate is a necessary precondition for good governance; it’s about the country’s laws and the willingness of those who seek to run the country’s affairs to subject themselves to its laws. Dismissing those calls is akin to offering a carte blanche to a modern day monarch with a medieval mindset. It’s sad

that a people who live in a society where the line between laws and the rulers’ whim is mostly blurred would give politicians the impression that they could act as they please. We have seen the negative consequences of such carte blanche unfurl virtually under our noses in a state like Lagos where the governor could order the deportation of some persons of Igbo extraction deemed to be social blights, and express no remorse even as he rallies support for the governorship candidate of his party from a people whose kith and kin he had treated so callously some 15 months ago. Progress isn’t merely a function of the number of suspension bridges or the huge revenue a city boasts, it’s as much determined by how those who run such cities treat their most disadvantaged population. Lagos is supposedly the All Progressives Congress’ best foot forward, so the reference here is made as a fitting metaphor to highlight the party’s change slogan and the inherent contradition. But what exactly does the APC intend to do differently? Barring the bland promise by retired General Buhari to abolish the office of First Lady if elected, there has hardly been any reassuring articulation on policies that clearly shows how the shortcomings which the All Progressives Congress so glibly rail against would be corrected by the party in the event of a triumph at the presidential poll. The party and its candidate spend time voicing platitudes such as the pledge spoken of earlier and the comment by Buhari that he would end the insurgency in two months if elected. One of the strongest assurance it could have given that its promise of change isn’t just a soapbox mantra was squandered late 2014 when it emerged that its legislators had voted against autonomy for local government councils even in states that the APC control with an absolute majority in the house of assembly. As I had written in Thisday (my former workplace) when the forcible relocation of those non-indigenes cited above occurred, “it is sheer hypocrisy to romanticise the alluring aspects of federalism but consider its less agreeable face repugnant”. The pledge to fight corruption is a huge hit among the masses, but the specifics are as important as the commitment. How does Buhari think the EFCC and ICPC could be made more effective? Does the solution lie in collapsing both agencies into one? As it is, we may never know because Buhari doesn’t feel obliged to reveal what he considers the best options. And why should he when his supporters’ voices egging him on have nearly muffled calls for him to show the electorate some respect and cease to act like he believes the laws should not apply to him. So he goes on with his devil-may-care strut across the country addressing crowds without actually saying why he should have their votes beyond the populist refrain which seems like a deliberate ploy to mask some inadequacies. Indeed, change is good, but only to the extent that it doesn’t yield a state of affairs worse than that for which a change was sought in the first place.

And The Final Word ... The Silly “I want to state categorically that if the University of Benin and their counsel are able to show proof of service of any application for stay of execution of judgment on any of the four respondents, I, Henry Idahagbon, will resign as attorney-general of Edo State and go back to my village to farm.” The silly quote above arose from a similarly silly action taken by the Edo State government to flex its muscle and prove to the authorities of the University of Benin that it could deploy bulldozers on a whim. The state government recently demolished some structures built by the university with whom it had been squabbling over ownership of the buildings a previous administration had allegedly given to the institution. The statement suggests Idahagbon considers farming a demeaning job - an unfortunate remark in a state that seeks to make agriculture a prime revenue earner.

... The Freudian Slip The statement credited to Lagos State governor, Babatunde Fashola, urging residents not to vote for the Peoples Democratic governorship candidate, Jimi Agbaje, whom he deems too old to govern Lagos is just another example of politicians’ unabashed predilection for double standards. If Agbaje is too old - and not “ok” - for Lagos, then that inevitably nullifies the bid by Buhari to rule Nigeria at the age of 73. Or could it actually be a Freudian slip, an unstated conviction that Governor Fashola considers General Buhari too old to be president?

... The Awkward For long, aides of both Anambra State governor, Willie Obiano, and his predecessor, Peter Obi, denied reports of any rift in their friendship. But President Goodluck Jonathan’s recent visit to the state put paid to those lies. The president brokered a reconciliation and went on to make a show of it through a photo-op. But it turned to be one of the most awkward embrace, a point that left many wondering if indeed the terms of the truce were agreeable to both.

President Jonathan flanked by Gov. Obiano and ex-Gov. Obi in a clumsy display of friendship.

Follow me on Twitter @AniLaurence

Sanctity of Truth

Festus Okoye The unalwful Anambra House Law

Laurence Ani

Of course, proof that a candidate has requisite qualification should matter

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

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WEDNESDAY, JANUARY 28, 2015

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Powering and Lighting-Up Nigeria

s the fulcrum of sustainable socio-economic growth and development, the power sector is a critical element in the progress of modern societies – a fact clearly appreciated by the Jonathan administration. At the policy level, the President reconstituted the Presidential Action Committee on Power, with himself as chairman and Vice-President Sambo as his deputy. Other critical memberships include Secretary to the Federal Government, Ministers of Power, Finance & Petroleum as well as selected captains of industry. The records show the President has not missed any of the Committee’s meetings. The implementation process of the Power Sector Road-Map is ably managed by a Presidential Task Force of high-grade professionals. The courageous unbundling of the ubiquitous Power Holding Company of Nigeria [PHCN], and the decentralization of its constituent Generating and Distribution Companies across the land, have vastly boosted performance of the sector. This exercise has already started yielding fruits. The Azura power plant in Edo State, for instance was flagged of two months ago, a feat that would have been impossible so are many other independent power projects. The Ugheli power plant which was generating less than 200 MW before being handed over to a private company now generates over 610 Mw. The new owners are planning to add additional 1000MW in due time. This would not have been possible but for the privatisation. What happened in the telecom sector would soon be replicated in the power sector. As at 2014, the Jonathan administration had completed 10 power plants under the Nigerian Independent Power Plant [NIPP] scheme; and their sale is on-going. The commissioned plants include those at Olorunsogo [563mw], Sapele [225mw] and Omotoso [112.5mw]. Currently, the country generates about 4,500mw of power, with increases expected in 2015. The Rural Electrification Agency [REA] was reactivated in mid-2012, and in barely two years it has invested in over 300 rural electrification projects across the country. Given the rate of progress on the projects, it will be a matter of course for the agency to literally ‘light-up’ rural Nigeria; affording that major segment of the populace access to additional means of livelihood and comforts of modernization. Other benefits include stemming the ruralurban drift and associated adversities; boosting agro-productivity, processing, preservation and storage; promoting the growth of rural industries and enterprises; attracting unemployed and under-employed urban dwellers to the rural areas. As part of efforts to expand its vista, the REA is pursuing collaboration with such proven Development Partners as the Bank of Industry, Japan International Co-operation Agency, UN Industrial Development Organization, UN

PETER OBI CON Guest Columnist

A power plant

Development Programme and German International Development Programme. To complement power generating capacities, the Jonathan administration is expanding and strengthening the capacities of the nation’s transmission system. The Transmission Company of Nigeria [TCN], under the management of the renowned Manitoba Hydro International, is currently firming up the critical linkages between electricity supply and demand. Meanwhile, Power China Corporation is to build 20,000mw-capacity power plants and sub-stations, with transmission lines stretching for some 10,000 kilometres. The Jonathan administration is also

Jonathan

Indeed, the benefits from the successful fulfilment of the power sector reform will far exceed the benefits of the telecommunications revolution

progressively exploring and exploiting other sources of energy for the country possesses vast potentials. Among these – in which investors have shown deep interest – are energy from solar [sun], wind, biomass, coal, and water. It has revitalized the nation’s hydro-electric power base, including major investments in Kainji, Mambilla [3,050mw] and Zungeru [700mw]. Concomitant with the establishment of power plants and related facilities are the massive investments in capacity building. There is now a National Power Training Institute [NAPTIN]; and its structures and facilities include: headquarters and

eight regional training centres, power system training simulator, workshops, demonstration plants, trainee hostels and guest houses. There are also exchange programmes abroad and extensive industrial training platforms in tertiary institutions. To date, over 6,000 sector professionals have benefited from various training programmes across the land. There have been [mostly extraneous] challenges that have threatened the attainment of the goals of the power sector road map. These include sabotage& vandalization of gas pipelines and some other facilities; and outright theft of equipment and accessories. These have been perpetuated largely by local and international syndicates – incurring billions of Naira in repair–works and delays in fulfillment of targets. For instance, the eastern axis gas pipeline at Okoloma disrupted the operations of plants of the Rivers State Government, Afam and Shell – with a loss of some 400 megawatts. Similarly, sabotage in the western axis [at Escravos] involved a loss of 1,500 megawatts. Despite these trip-wires, Nigeria not only has the largest economy in Africa, but also the biggest population – with its varied domestic, office and industrial power requirements. The sector continues to attract the interest of local and foreign investors; an indication of growing confidence in its management. Strategic partnerships have been forged with such long-established operators as General Electric, Siemens AG, Daewoo E and C, Electricite de France, Enterprise de Transporte et Distribution D’electricity, and Electrobate. The Memorandum of Understanding signed between the Federal Government and some of these global players is a commitment by each of them to help build up to 10,000MWcapacity in the country. Many other reputable power companies have been to Nigeria and indicated their desire to participate in the entire value-chain of power delivery. Indeed, the benefits from the successful fulfilment of the power sector reform will far exceed the benefits of the telecommunications revolution. As we are about to cast our votes, may I call on Nigerians to realize that the Government of Dr. Goodluck Jonathan has set many developmental projects in motion. Beyond sentiments, now is the time for Nigerians to rally round him. He needs this next term to consolidate on his administration’s achievements. Even as projects such as the Kaduna-Abuja rail line are nearing completion, the next term will enable him successfully fulfil others, among which are those in the power sector. He has commenced quite a number of projects that will guarantee 24 hours electricity availability in the country. We should support him to conclude the vital task of lighting-up Nigeria. • Mr. Obi is the former Gov. of Anambra State and the Deputy Director General of the PDP National Campaign Council

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotline: 01-8541248, Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: YEMI AJAYI.