Wednesday, july 15, 2015 binder1

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Vol. 2 No. 511

Wednesday, July 15, 2015

/newtelegraph

@newtelegraph1 www.newtelegraphonline.com

NLC orders Osun workers to continue strike

Shell defers 6.3m barrels Forcardos crude exports Adeola Yusuf

S

hell has deferred exports of about 6.3 million barrels of Forcardos crude grades from Nigeria to August, New Telegraph gathered on yesterday.

This followed the company's inability to fulfil its contractual obligations to refineries abroad and other consumers on supply of the crude grade for July loading.

The deferment of exports was based on Shell's readi-

ness to begin full-capacity exports at its Forcados terminal, which has been shut since May 5.

The company's subsidiary in Nigeria, Shell Petroleum Development Company (SPDC), announced yesterday that its

Joint Venture (JV) had lifted the force majeure on the crude oil stream, which has been in effect for over two months.

The force majeure, in place for more than two months, was lifted, according to the compaCONTINUED ON PAGE 6

N150

}12

the MEGA CITY

Boost for Lagos products, agriculture }21

Banks panic as NNPC withdraws $1.2bn lNaira may fall to N261 to $1, say foreign investors lFuel scarcity pushes inflation to 9.2%

}2 & 3

QuickRead

FG extends contract with Manitoba }9 Buhari, Osinbajo's pay cut cosmetic, say PDP, NLC }6

Okorocha stops 40 }47 monarchs’ allowances Sultan offers to hold talks with Boko Haram }5

L-R Former Governor of Rivers State, Mr. Chibuike Amaechi; former Lagos State Governor, Senator Bola Tinubu and President Muhammadu Buhari during the breaking of fast with the president in Abuja...yesterday.

PHOTO: TIMOTHY IKUOMENISAN.

21 kids missing in Anambra orphanage }3

2

News

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Banks panic as NNPC withdraws $1.2bn Ayodele Aminu

T

he Nigerian National Petroleum Corporation (NNPC) has withdrawn $1.2 billion (N240 billion) from banks, triggering more dollar liquidity squeeze in the money market and causing the value of the naira to depreciate further at the parallel market.

The oil corporation, New Telegraph gathered, wrote the lenders last Tuesday, intimating

them of its intention to transfer its domiciliary accounts to the Central Bank of Nigeria (CBN).

A top NNPC official, who pleaded anonymity, confirmed the withdrawal yesterday.

He said the decision to move the accounts to the CBN stemmed from the ongoing probe of the corporation, stressing that it was to harmonise all “their accounts.”

A CBN official, who also asked not to be named because he has no clearance to speak on

the issue, corroborated the NNPC official's statement.

He said the NNPC’s directive to transfer its funds to the Central Bank was in order given the fact that the CBN is a banker to the government and that the oil corporation is also an institution of the government.

He, however, said the funds would boost the CBN’s reserves and improve its ability to stabilise the naira, which has received severe bashing at the parallel market,

where forex end users that do not need documentation source for their dollars.

Besides, he said the decision to move the NNPC accounts to the CBN might not be unconnected with the ongoing probe of the oil swap deal and NNPC. But the withdrawal of the funds has continued to jolt the money market, as banks, which had already created assets with the dollars, were said to be running helter-skelter to restructure the mis-

Benue State Governor, Dr. Samuel Ortom (left), with the Primate, Church of Nigeria (Anglican Communion), Most Rev. Nicholas Ukoh, during Ukoh’s visit to the governor in Makurdi …yesterday.

Lamido, sons to celebrate Sallah at home Tunde Oyesina Abuja

F

ormer Jigawa State Governor, Alhaji Sule Lamido and his two sons, Aminu and Mustapha, standing trial for corruption and money laundering, yesterday got the nod of the Federal High Court to spend their Sallah at home.

The trio was remanded in prison custody last week byJustice Evelyn Anyadike of the Federal High Court, sitting in Kano, after arraignment by the Economic and Financial Crimes Commission (EFCC) for receiving N1.35 billion bribe from a government contractor.

Justice Anyadike had ordered the former governor and his sons to be remanded in prison custody till September 28.

But temporary relief

came their way yesterday as the vacation judge of the Federal High Court, sitting in Abuja, Justice Gabriel Kolawole, granted them bail.

While Lamido was admitted to bail on selfrecognizance as a former governor, his two sons were granted bail in the sum of N25 million each with two sureties in each in like sum.

Ruling on the bail application, Justice Kolawole further ordered Lamido to submit his passport and other travelling documents to the deputy registrar of the court.

He said the order was not to stop him from travelling, but to monitor his movements.

The court, however, held that one of the sureties to be produced by the two sons must be a federal civil servant not below grade level 16 either at the

state or federal level.

The second surety must be a private businessman who must have evidence of tax payment for the past three years and a landed property in Kano, Jigawa or the Federal Capital Territory worth N75 million.

Like their father, Aminu and Mustapha are to drop their passports and travelling documents with the court which would be transferred to Kano division of the Federal High Court.

The court ordered that once the accused persons meet the bail conditions, the prison authorities should release them to go home.

The Federal High Court, sitting in Kano had, last Friday, ordered Lamido and his two sons to be remanded in prison custody till September 28 when the court will come back from its annual vaca-

tion.

Also ordered to be remanded along with them is one Aminu Wada Abubakar with whom they were arraigned.

The accused persons were also arraigned alongside four companies in which the Lamido family allegedly has interest.

The companies are Bamaina Holdings Limited, Bamaina Company Nigeria Limited, Bamaina Aluminum Limited and Speeds International Limited.

According to the charge sheet, Lamido allegedly abused his position as governor of Jigawa State between 2007 and 2015, by awarding contracts to companies where he has interest, using Aminu and Mustapha as front.

But when the charges were read to the accused persons, they pleaded not guilty.

matches that had been created with the NNPC funds.

A treasurer in one of the tier-one banks said lenders may have to start calling back their dollar loans extended to customers.

“This is a serious problem for us because the CBN has not been selling dollars to banks and we have used the dollars being recalled by NNPC to pay for trade obligations to customers offshore,” said another senior treasurer of a tier-two bank.

Renaissance Capital, a leading investment banking firm originating from Russia that operates in high-opportunity emerging and frontier markets, few days ago, put the shortfall in the forex market, which the apex bank had not been able to meet at $4 billion.

This has exerted enormous pressure on the parallel market, where N243 exchanged for a dollar yesterday. The official exchange rate, however, remained stable at N196.95 per dollar.

Since June 24 when the markets started reacting to the CBN’s latest policy to restrict access to foreign exchange for certain categories of importers, the naira has declined against the dollar almost on a daily basis.

Although most analysts are predicting another devaluation to around N210, Non-Deliverable Forwards - currency derivatives traded offshore - pointed to it being priced at around N255-N261 to $1 before the end of the year.

Just last week, the release of part of the N400 billion funds approved by the Federal Government to clear the backlog of salaries in states and local governments had further worsened the fortunes of the ailing naira.

President, Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said the demand for dollars had surged as individuals rushed to convert their naira to dollars.

He said: "There is a lot of demand with the recent injection of cash by the government. Part of the funds is being converted to dollars.”

Similarly, another BDC operator, who asked not to be named, said, “The scarcity is really serious; there is no dollar anywhere. So, people who have the money are buying available dollars with a view to later selling at a higher rate.”

As at April, the CBN had spent $4.7 billion in

defending the naira.

Last February alone, it used at least $3.4 billion in fixing the exchange rate.

Nigeria’s reserves, according to the latest data on the banking watchdog’s website, is $29.95billion as at last Monday, which is totally at variance with the $31.89 billion announced by the CBN Governor, Mr. Godwin Emefiele, last week during his meeting with the Senate.

Some critical stakeholders in the economy, including the Managing Director of Financial Derivatives Limited, Bismarck Rewane, had stressed the need for a further devaluation of the naira.

For instance, Managing Director and Chief Executive Officer of First Bank of Nigeria Limited, Mr. Bisi Onasanya, contended that the CBN needed to let the naira devalue because the foreign-exchange trading restrictions had started to harm growth in the economy.

“People just don’t believe the CBN has what it takes to sustain the exchange rate at the present level. The market needs to reopen. You cannot peg the naira at a level that the whole world knows is unrealistic.

“We are in a situation where Nigerian banks are shopping for foreign exchange in the international market. We need to bite the bullet and move on, or there will be repercussions over the long term,” he said.

But reacting to the steady decline in the value of the naira on the parallel market last Thursday, CBN’s Director, Corporate Communications, Mr. Ibrahim Mu'azu, stated that the apex bank would not be distracted by the development and would not take it into consideration in determining the exchange rate.

He said the volume of trading in foreign exchange taking place in the market was so marginal that it should not be used to determine the naira’s rate.

New Telegraph had reported last week that the banking watchdog had begun probing banks to ascertain those that have complied with its directive on the transfer of public sector revenue accounts to the CBN account.

The investigation followed the expiration of the June 30, 2015 deadline that the banking watchdog set for the exercise.

News

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

3

21 children missing from Anambra orphanage

lGovernor's wife orders probe of incident Okegwo Kenechukwu Onitsha

A

probe has begun into the circumstances that led to the disappearance of 21 children from a motherless babies' home in Atani, Anambra State.

The state Ministry of Women Affairs and Social Development has ordered the closure of the orphanage to facilitate unhindered probe into the activities of the organisation.

The wife of the state Governor, Mrs. Eberechukwu Obiano, who

supervises the ministry, ordered the probe into the disappearance of the children from Madonna Angels Community Children’s Home (Motherless Babies' Home), Atani, Ogbaru Local Government Area.

She told journalists yesterday in Awka that she was pained by the development and wanted details of the missing children immediately.

The disappearance of the children was uncovered during an investigation into the activities of the motherless babies' home, after the Department of State Security (DSS) raided the place

and arrested its workers.

The secret agents raided the orphanage following a tip-off that it was harbouring 14 pregnant girls in violation of the terms of its operational licence.

The DSS officials carried out further investigations on the suspicion that the orphanage had been turned into an illegal baby factory where young, pregnant girls are brought in and taken care of until their delivery so that their babies could be trafficked.

The DSS raid was followed by a directive from the ministry to the police to investigate the activi-

ties of the orphanage.

During the probe by the police, conducted in conjunction with the ministry, it was discovered there were 21 missing babies as only five out of the 26 babies previously in the home were left.

“The governor’s wife was not happy at that because she frowns on any kind of child trafficking and has vowed to stop the perpetrators by all means possible and you will remember that she has asked all traffickers in the state to leave Anambra State or face the wrath of the law,’’ a source who gave further detail into the incident

L–R: Business Development Manager, New Telegraph Newspapers, Mr. Taiwo Ahmed; Head, Media Strategy and Planning, Centrespread Company Limited, Mr. Yomi Martyns; Group Managing Director, Mr. Kola Ayanwale; Managing Director/Editor-In-Chief, New Telegraph Newspapers, Mrs. Funke Egbemode; Chief Operating Officer, Centrespread Company Limited, Mr. Wale Akintunde and Editor, Saturday Telegraph, Mr. Laurence Ani, during a visit to Centrespread's office in Lagos…yesterday.

PHOTO: SULEIMAN HUSAINI..

Fuel scarcity pushes inflation to 9.2% Abdulwahab Isa Abuja

T

he monthly inflation rate has inched by 0.2 per cent in June from the May figure of 9 per cent to 9.2 per cent, National Bureau of Statistics (NBS) Consumer Price Index (CPI) indicated yesterday.

The 0.2 per cent increase in prices was recorded in consumable items such as non-alcoholic beverages triggered by increase in transportation cost.

In the first half of the year, headline index has increased by 8.6 per cent, 0.7 percentage points higher from rates recorded during the corresponding period in 2014.

NBS attributed the de-

velopment to scarcity in the supply of Premium Motor Spirit (PMS) commonly referred to as petrol which has continued to impact on food prices.

The Food Sub-index rose to 10.0 per cent (yearon-year) in June, up by 0.2 percentage points from 9.8 per cent in May. On a month-on-month basis, the food Sub-index increased by 1.1 per cent, maintaining the high pace of increase recorded in May. The highest price increases were recorded in the vegetables, fish, bread and cereals, and potatoes, yam and other tuber groups. The average annual rate of change of the Food sub-index for the 12-month period ending in June 2015 over the previ-

ous 12-month average was 9.5 per cent.

“The pace of advances recorded by the “all items less farm produce” or core sub-index edged higher in June. The Core Sub-index increased by 8.4 per cent (year-on-year), marginally higher from May with the highest pressures observed in the Transportation, Education and Miscellaneous Good and Services divisions. The pace of increases slowed in multiple divisions as well, such as Clothing and Footwear, Housing Water, Electricity. Gas and Other Fuels, as well as other divisions.

“On a month-on-month basis, the pace of the increase in the Headline index eased, increasing by 0.9 per cent in June from

1.1 per cent recorded in May with largest increases observed in the Food and Non-Alcoholic Beverages, Transportation and Miscellaneous Goods and Services,” NBS data revealed.

The largest increases were recorded in the fuels and lubricants for personal transport equipment (which includes PMS), liquid fuel (kerosene), solid fuels (charcoal), maintenance and repair of personal transport equipment and passenger transport by road groups.

The average 12-month annual rate of rise of the index was recorded at 7.0 per cent for the 12-month period ending in June 2015, unchanged from the 12-month rate recorded in May.

said yesterday.

The Anambra Police spokesman, Mr. Uche Eze, a Deputy Superintendent of Police (DSP), could not be reached as at press time for his comments.

But the state Commissioner for Women Affairs and Social Development, Dr Victoria Chikelu, who confirmed the de-

velopment, said she was attending an executive council meeting and referred our correspondent to the Permanent Secretary, Mrs. Victoria Mgbemena, for details.

Efforts to contact the Reverend Sister incharge of the home, Reverend Sister Uyanne for clarification proved abortive.

FG halts Radio Biafra signals lBuhari frowns on poor remuneration for journalists

Anule Emmanuel Abuja

T

he Federal Government yesterday said it has succeeded in blocking signals of the Radio Biafra which has been operating without licence.

Permanent Secretary in the Ministry of Information, Dr. Sade YemiEsan, who disclosed this to journalists at the Presidential Villa, Abuja after a meeting with President Muhammadu Buhari, said the Nigerian Broadcasting Corporation (NBC) achieved the feet recently.

Yemi-Esan said the commission was currently working with security agencies to apprehend those behind the illegal radio.

Meanwhile, Buhari has frowned at the poor remuneration of media workers in the country.

Speaking further on the Radio Biafra, the Permanent Secretary stated that: “We also gave a report on Radio Biafra. Right now, the signals from the radio have been jammed successfully by the NBC. “The commission is also working with security agencies to get those that are behind that radio because it is illegal. It is not licensed by anybody to be on the airwaves in Nigeria.”

She noted that the president had directed the ministry to put machinery in place to end the scourge of piracy in the nation’s movie industry.

The Permanent Secretary said the president gave a clear directive that the ministry must work hard to ensure that film producers get what is due to them.

According to her, “The president raised concerns about piracy in Nollywood and he has instructed us to work harder to ensure that the producers of Nollywood films get what is due to them and that we reduce piracy to the barest minimum,” she said.

She added that the pres-

ident frowned at some media houses that are in the habit of owing salaries.

According to her, Buhari saw the development as not too good for the country.

She said: “I think it was last week that one of the newspapers was shut down because of non-payment of salaries. I think that should not be heard of in a country like Nigeria.

“Mr. President frowns on things like that, the welfare of every Nigerian, especially journalists is one of the major concerns that we have.”

The Permanent Secretary said the president wanted the ministry to intensify publicity because of his desire that every Nigerian should know about policies and programmes of his government.

She said they also talked about external publicity and the possibility of reopening the federal information services abroad.

Buhari also directed law enforcement agencies to step up their efforts to curb the menace of pirates in Nigeria's entertainment industry so that artistes can enjoy the fruits of their labour.

“Nollywood is making progress. We should work with them. Unless they are backed, they will be ruined by pirates who want to reap where they have not sowed.

"They have built an industry with their own sweat. It is therefore incumbent on us to give them the necessary support,” Buhari said.

The president charged law enforcement agencies to identify the perpetrators of copyright piracy, their sponsors and collaborators, and bring them to justice.

The president also charged the Nigeria Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN) to tap into the opportunities presented by their wide reach to shore up their revenue profiles.

4

Travel Advisory

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

International Flight Schedule Air France Destination Abuja- Paris Paris-Lagos Paris-PHC PHC-Paris Paris –Abuja Lagos –Paris

KLM

air maroc 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 KL587 Lagos-Amsterdam KL588

13:15hrs 20:00hrs 23:05hrs 05:50hrs

Lagos-London London-Lagos Lagos-New York New York-Lagos Lagos-Johannesburg Johannesburg-Lagos Lagos-Douala Douala-Lagos Lagos-Accra

W3 101 W3 102 W3 107 (Wed, Fri, Sun) W3 108 (Thurs, Sat, Mon) W3 103 W3 104 W3 380 (Mon, Tue, Thurs, Sat) W3 381 (Mon, Tue, Thurs, Sat) W3 300 W3 304 W3 301 W3 305 W3 386 (Wed, Fri, Sun) W3 387 (Thurs, Sat, Mon) W3 386 (Wed, Fri, Sun) W3 388 (Tue, Thurs, Sat) W3 387 (Thurs, Sat, Mon) W3 389 (Wed, Fri, Sun) W3 362 (Tue, Thurs, Sat) W3 363 (Wed, Fri, Sun) W3 390 (Mon, Wed, Fri, Sun) W3 391 (Mon, Wed, Fri, Sun) W3 380/390 (Daily) W3 381 (Mon, Tue, Thurs, Sat) W3 391 (Wed, Fri, Sun)

12:00hrs 21:30hrs 23:30hrs 12:25hrs 13:30hrs 23:15hrs 11:15hrs 14:45hrs 07:20hrs 07:00hrs 08:05hrs 17:45hrs 19:49hrs 01:50hrs 19:40hrs 20:30hrs 00:25hrs 03:00hrs 21:30hrs 02:00hrs 11:15hrs 13:35hrs 11:15hrs 17:00hrs

18:45hrs 04:15hrs 05:30hrs 04:00hrs 20:40hrs 04:30hrs 14:00hrs 17:30hrs 07:20hrs 17:00hrs 10:05hrs 19:45hrs 22:15hrs 06:25hrs 22:15hrs 00:30hrs 06:25hrs 09:00hrs 00:30hrs 05:hrs 12:50hrs 17:10hrs 11:45hrs 17:30hrs

16:40hrs

17:10hrs

W3 363 (Wed, Fri, Sun) W3 390 (Mon, Wed, Fri, Sun) W3 391 (Mon, Wed, Fri, Sun) W3 380/390 (Daily)

02:00hrs 05:hrs 11:15hrs 12:50hrs

ARIK AIR

Accra-Lagos Lagos-Banjul Banjul-Lagos Lagos-Dakar Dakar-Lagos Lagos-Luanda Luanda-Lagos Lagos-Abidjan Abidjan-Lagos Lagos-Cotonou Cotonou-Lagos

16:40hrs 17:10hrs Abidjan-Lagos Lagos-Cotonou

13:35hrs

17:10hrs

11:15hrs

11:45hrs

17:00hrs

21:30hrs

00:30hrs

W3 363 (Wed, Fri, Sun)

02:00hrs 05:hrs

Cotonou-Lagos W3 391 (Wed, Fri, Sun)

16:40hrs

W3 391 (Mon, Wed, Fri, Sun) W3 380/390 (Daily) W3 381 (Mon, Tue, Thurs, Sat) 17:00hrs

13:35hrs

17:10hrs

11:15hrs 07:35hrs

11:45hrs 12:50hrs

14:20hrs

19:45hrs

EK 761

23:55hrs 10:30hrs

17:10hrs

QR 1414 (daily) QR 1415

14:55hrs 23:45hrs 07:20hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

Lagos - Addis Ababa Addis Ababa - Lagos Abuja - Addis Ababa Addis Ababa - Abuja Enugu - Addis Ababa Addis Ababa Enugu Kano - Addis Ababa Addis Ababa - Kano

ET900 ET901 ET910 ET911 ET930

13:15hrs 09:00hrs 13:40hrs 09:40hrs 12:00hrs

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

ET931

09:20hrs 11:15hrs

ET930 ET931

14:05hrs 20:50hrs 09:20hrs 13:20hrs

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 5:25+1hrs 16:00hrs 20:20hrs

17:10hrs Cotonou-Lagos W3 391 (Wed, Fri, Sun)

16:40hrs

DELTA AIRLINES

UNITED AIRLINES

ETHIOPIAN AIRLINES

IBERIA

Lagos-Casablanca AT738 Casablanca-Lagos AT 737

06:25hrs 09:55hrs 02:15hrs 6:00hrs

Lagos-London London-Lagos

VS 652 VS 651

11:00hrs 17:00hrs 22:40hrs 4:40hrs

Lagos- Abu Dhabi

EY 0672 (Sunday) (Monday) (Saturday)

20.45hrs 07:00hrs 09:50hrs 20:05hrs 09.20 hrs 20:10hrs

Abu Dhabi-Lagos

EY 955

06:30hrs 11:45hrs

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 22:20hrs 08:30hrs 13:30hrs

Lagos-Nairobi Nairobi-Lagos

KQ 533 KQ 534

12:30hrs 18:00hrs

19:35hrs 23:45hrs

Lagos-Kigali

AWB 201 11:15hrs (Mon, Wed, Fri, Sun) AWB 202 (Tue, Thur, Sat, 14:00hrs Sun)

16:45hrs

VIRGIN ATLANTIC ETIHAD AIRWAYS

EGYPT AIR

KENYA AIRWAYS RwandAir Kigali-Lagos

17:30hrs

Turkish Airlines Lagos-Istanbul Nairobi-Lagos

332 333

22:35hrs 06:00hrs 15:10hrs 21:20hrs

Lagos to Abidjan Abidjan to Lagos

HF 851 (Tues, Thurs, Fri, Sun) 10:10hrs HF 852 (Mon,Wed, Thurs, Sat) 19:20hrs

10:50hrs 21.50hrs

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

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

Arrival 15:55hrs 18:15hrs 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

Air Côte d'Ivoire ASKY AIRLINES

Departure 14:00hrs 16:30hrs 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

Local FLIGHT SCHEDULE ARIK AIR

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

AZMAN FLIGHT SCHEDULE

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

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

FIRST NATION AIRWAYS

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

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

AEROCONTRACTORS

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

MEDVIEW AIRLINES

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

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NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

5

House leadership: Dogara to announce principal officers July 21 Philip Nyam Abuja

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he leadership crisis in the House of Representatives may have been settled as Speaker Yakubu Dogara yesterday hinted that he would constitute the principal officers when the lawmakers reconvene on July 21.

The speaker also declared that he has unpararelled confidence in President Muhammadu Buhari to change the course of the Nigerian history for the better.

Dogara, who made these remarks when he received in audience members of the All Progressives Congress Youth Forum that paid him a courtesy call

in his office, disclosed that party elders had intervened and a meeting was scheduled for yesterday evening where the problem will be resolved.

“Everything is being done in conjunction with the party; in conjunction with the leaders to ensure that by the time we reconvene, all the issues that were there would have been dealt with.

“As soon as I leave this meeting, I’m going for a meeting. I hope we should be able to bury our differences so that when we resume announcement will be made for the remaining four leadership positions in the House of Representatives. I’m speaking on behalf of the House of Representatives; I’m not holding brief for the Senate. But I

sincerely believe that by the time we resume, this matter will be a thing of the past,” he assured.

He declared that he had absolute trust in the ability of President Buhari to deliver on his campaign promises, but called on Nigerians to pray for the president not to make mistakes in constituting his cabinet.

According to him, if Buhari fails to move Nigeria forward it may be difficult for the present generation of Nigerians to get out of the woods.

Dogara said: “We still have issues regarding the government that will be formed very soon. We still want to appeal for your prayers and support so that we don’t get things wrong. We all know the cir-

Sultan offers to hold talks with Boko Haram Umar Abdullahi Sokoto

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he Sultan of Sokoto, Alhaji Muhammad Sa'ad Abubakar 111, yesterday offered to hold talks with Boko Haram, if the Federal Government approves, to end the terror attacks by its members.

Abubakar, at a dinner for reporters on Monday night in Sokoto as part of the Ramadan, also urged the Federal Government to engage the Boko Haram in a dialogue.

But he warned that government should hold peace talks with the insurgents from a position of strength.

He said: "We are ready to go anywhere to talk to anybody as long as there is a formula of what to be done. We don't have any legal authority to call for a dialogue with any insurgent; the Federal Government must make the move.

"I have said it so many times that no amount of force can defeat insurgents. Dialogue is the best option, but we must negotiate on the platform of strength so that there will be peace. You must be stronger than the person you are negotiating with and when the insurgent knows you are stronger, he will listen and agree to your terms and there will be peace.

"I have seen what happened during my stay in Pakistan for three years. I have seen what happened in Iraq and Afghanistan.

Even the United States of America is talking with the Taliban and AlQaeda. Even Pakistan, after fighting Taliban for several years, is following the path of dialogue. Why can't we negotiate with Boko Haram and now re-

lease some prisoners for the Chibok girls?"

The sultan also lamented the spike in Boko Haram attacks that have led to the rise in the death toll arising from the insurgency in the country.

According to him, Nigeria can only achieve enduring peace through dialogue.

He also urged elected leaders to act to tame the insurgency in some parts of the country.

He said: ''Elected leaders should do something urgently about this menace now so that Nigerians can go back to their normal lives in a country which is free. ''The Boko Haram people are not Muslims and their activities are not aimed at strengthening Islam; rather to destroy it. ''We must, therefore, condole with Nigerians over the senseless killings of innocent people in the past one week in Kano, Borno, Yobe, Plateau and Zaria, among others.''

The sultan dismissed claims that the Boko Haram insurgency was part of a plot to turn Nigeria into an Islamic nation.

He said he would continue to work to ensure sustained harmony between the two major religions in Nigeria.

He also welcomed the appointment of service chiefs and the National Security Adviser (NSA), saying, ‘‘we know them and we are confident that they will deliver.''

The Chairman of the Sokoto council of the Nigeria Union of Journalists (NUJ), Mr. Labaran Dundaye, commended the Sultan for sustaining the annual dinner.

"We will continue to operate according to the ethics of the noble pro-

fession of journalism to ensure the prevalence of peace and unity in Nigeria,'' Dundaye said.

Meanwhile, the United States has said the brutality and barbarism of Boko Haram know no bounds in view of the recent attacks by the insurgents on some countries in West Africa.

It also condemned the recent killings by Boko Haram in Chad, Cameroon, Niger and Nigeria.

In a statement yesterday by the US Embassy in Nigeria, the US Department of State’s spokesperson, John Kirby, said the US condemned the “horrific and indiscriminate” Boko Haram suicide attacks on the Grand Marche in the Chadian capital of N’Djamena on Saturday, as well as attacks in Cameroon, Niger and Nigeria “over the past two days.”

“Boko Haram’s targeting of men, women and children highlights that the group’s brutality and barbarism know no bounds and we remain committed to working closely with the region to root out the threat posed by the group.

“We extend our deepest condolences to the families and loved ones of the soldiers, government officials, and civilians killed; we hope those who were injured will recover quickly,” Washington said.

The US government, however, praised the security forces of the three countries for their timely responses to “these callous and cowardly attacks on innocent civilians.”

It expressed its commitment to support the governments and people of the Lake Chad Basin region in their ongoing struggle to degrade and defeat Boko Haram.

cumstances that pushed us to uproot the government of the day. Everything was virtually against us; we didn’t have the benefit of incumbency; we didn’t have the kind of money like the party that was in

government; but in spite of that, we were so resilient. Some of us even rejected offers of money because of our conviction.

“The only way we can pay back the people is that we don’t abandon this con-

viction. We have unparalleled faith in the president of this nation and for most of us we believe that if we don’t get it right now it will be very difficult for us to get it right may be in our own generation.”

I’ve no regrets establishing Complaints Commission –Obasanjo Kunle Olayeni Abeokuta

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ormer President Olusegun Obasanjo yesterday justified the creation of the Federal Public Complaints Commission (FPCC) when he was military of Head of State.

Obasanjo said he had no regrets establishing the commission.

He spoke when the new Ogun State Commissioner of PCC, Mrs. Oluyemisi Somorin-Dawodu, paid him a visit at his Presidential Hilltop Estate residence in Abeokuta.

The FPCC, which was established by Decree 31 of 1975 of the Supreme Military Council, later metamorphosed into the Public Complaints Com-

mission (PCC).

Obasanjo, who served as head of state between 1976 and 1979, recalled that the agency was set up to create a platform through which ordinary people in the society could be defended and secure justice.

Obasanjo, who stressed the continued relevance of FPCC to the nation's polity, expressed satisfaction that the objective for which the body was set up was being achieved.

He said: "As I listen to radio and hear the less privileged talk about the relief and justice they got through the assistance of the commission, then I have no regrets ever establishing the body.

"Although I cannot say that the need we saw then has completely disappeared, but there have been testimonies of cases

where the commission has come to the rescue of the helpless."

He promised to provide necessary support and complement government's efforts in enhancing the agency's operations.

Earlier in her remarks, Somorin-Dawodu had said the operations of the commission were being hampered by paucity of funds and lack of office accommodation.

She solicited Obasanjo's intervention and assistance in the renovation of roofless office of the commission in Ota area of the state.

The commissioner also sought the former president's assistance in the agency's bid to establish an area office in Abeokuta North Local Government Area for more effective operations.

This notice appears as a matter of record only

PUBLIC NOTICE This is to bring to the notice of the general public that Sterling Bank Plc has applied to the Securities & Exchange Commission (SEC) for the discontinuance of its functions as Issuing House and Fund/Portfolio Managers in line with its National Commercial Banking License as approved by the Central Bank of Nigeria.

The Bank has rendered nil returns to the SEC and would therefore not be handing over its functions to any institution as required by SEC Rule 20A.

Signed Management

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WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Buhari, Osinbajo's pay cut cosmetic –PDP, NLC

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that Nigerians would not be wavered by the N7 million annual donation and rejection of official cars, and forget their expectations for the implementation of his long list of campaign promises for which he was elected into office," the statement observed.

According to the PDP, Nigerians cannot be deluded by impressions aimed at making government appear to be on course when it has only been a case of all motion, no movement, spiced with unnecessary excuses.

Though the party agreed that one month is too short a time to assess any government, it however, noted that "when this administration and your party started rolling out premature scorecards of imaginary achievements, it became necessary for us and indeed most Nigerians to x-ray them."

It said that Nigerians have not been thrilled by such orchestrations as "other leaders who at one time or the other adopted similar stance did not dither or become laidback, but hit the ground running with governance.

"Instead of engaging in pointless propaganda, the APC and the Presidency should be more concerned about the decline in the economy with the continued fall in the value of the naira which has descended from under N200 to the dollar they inherited in May to all time low of N238 even in the face of the president’s promise to bring it to same value with the US Dollar."

The party added that what the citizens want is a government that is urgent in living up to its billings and campaign promises.

The opposition party told President Buhari that the people would judge him by the extent to

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Shell defers 6.3m barrels Forcardos crude exports

Onyekachi Eze ABUJA

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he Peoples Democratic Party (PDP) has described as cosmetic, the symbolic gesture of President Muhammadu Buhari and his vice, Prof. Yemi Osinbajo (SAN) cutting their annual salary by 50 per cent.

The party in a statement yesterday by its National Publicity Secretary, Chief Olisa Metuh, said that the pay cut does not in any way address the burning issues of unemployment, worsening security situation in the country and the declining economy.

PDP told the president and his party, the All Progressives Congress (APC), that Nigerians cannot be overwhelmed by such gestures especially given that they are pretty aware that the salary is a mere drop in the ocean of personal allowances and privileges that come to the president.

"While we appreciate the symbolic gesture by Mr. President in ‘cutting’ his N14 million annual basic salary by 50 per cent, it should be noted

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ny, after it had completed the repairs on the NPDCoperated Trans Forcados Pipeline.

"The Shell Petroleum Development Company Joint Venture lifted the force majeure on exports from Forcados Terminal effective 18:00 Nigerian time yesterday, July 13, 2015," Shell said in a statement.

"This followed the completion of repairs on the NPDC-operated Trans Forcados Pipeline."

The company declared force majeure on May

which he addressed critical issues of governance for which he was voted into power.

"The issue is about the president facing the challenges of governance and assembling his team of experts and capable hands to manage the economy, which has been on the decline since he assumed office. It is also about allowing the different arms of government, especially the National Assembly to work smoothly and encourage conducive democratic environment where the rule of law, personal freedom and security of lives and property are guaranteed.

"Perhaps, we may need to draw Mr. President's attention to the growing concern that under his watch democratic institutions are no longer

free. While activities of the National Assembly have been disrupted, the nation’s electoral body has lost its independence due to the appointment of an Acting Chairman that is publicly known to have very strong relationship with your good self and key members of your party. We have also seen flagrant disregard of court orders," he added.

In a related development, the Nigeria Labour Congress (NLC) has said that the voluntary salary cut undertaken by Buhari and Osinbajo would not in any way improve the economy of the country.

The NLC SecretaryGeneral, Dr. Peter EsonOzo, made this assertion in an interview in Abuja.

“For some individuals to voluntarily decide to cut their salaries, I think

it is cosmetic and I believe we should be more systematic than that.

“I think, to begin with, the law, the constitution, prescribes how public office salaries are fixed; if any public officer chooses to reduce his salary, he can donate it to charity or donate it to whomever,” he said.

Eson-Ozo noted that the labour movement had for some time been clamouring for a reduction in the cost of governance, adding that this should not be by cutting salaries.

He said that the bulk of what was driving governance cost was outside the prescribed salary.

“Any person or the president or any other public officer who then arbitrarily gets up and cuts salary when the law

does not put the fixing of that salary in his power, creates a legal problem.

“I think that we need to address things in a systematic way.”

Eson-Ozo said that it was imperative for government to focus deeper on ways to reign in the cost of governance rather than the cosmetic announcement of slash in salaries by some public officers.

According to him, the process of fixing salary is an institutionalised one and not up to any individual to do.

“Because if you can cut salary, does it mean you can just wake tomorrow and increase salary?

These are issues we need to take on board in order for us to have a robust type of approach to the system,” Eson-Ozo said.

L-R: CSR/Sustainability Manager, Nigerian Breweries Plc., Mrs. Emete Tonukari; Secretary General, Nigeria Union of Teachers (NUT), Obong Ikpe Obong and Head, Government Relations, Nigerian Breweries Plc, Mr. Vivian Ikem, during a visit to NUT Abuja office...yesterday.

5 following "a series of leaks" in the Trans Forcados pipeline that brings the oil to the export terminal.

Traders however said on Tuesday that the several cargoes from the original plan of exports for Forcados crude in July included seven cargoes with a total of 6.3 million barrels had already been deferred to August as a result of loading delays.

An overhang of light sweet crudes in the Atlantic Basin has depressed differentials to dated Brent and limited the

impact of recent supply disruptions on some West African crude oil grades.

Six oil and gas exploration and production (E & P) companies, including SPDC, Seplat, Pan Ocean, and Nigerian Agip Oil Company, deliver crude oil to the Forcados Export Terminal in Delta State, through the Trans -Forcados Pipeline.

The Trans-Forcados Pipeline, which is used by E&P companies operating in the Western Niger Delta to transport crude oil to the 400,000 barrels per day capacity Forca-

dos export terminal, has been the target of attacks by vandals.

Since the most recent acts of vandalism at five different points on the Trans- Forcados Pipeline were reported on January 6, the affected companies have not been able to ramp up production.

SEPLAT Petroleum Development Company Plc, which owns 45 per cent stake in Oil Mining Leases (OMLs) 4, 38 and 41, and operates these leases under a joint venture with the Nigerian Petroleum Development

Company (NPDC), is one of the companies that suffered outage as a result of the vandalism.

CORRINGENDUM The former Chief of Naval Staff is Vice Admiral Jibrin Usman, while the former Chief of Air Staff is Air Marshal Adesola Amosu.

This corrects the wrong captions for the two retired generals on the front page pictures in the July 14th edition of the paper.

The error is regretted.

–Editor

NEW TELEGRAPH wednesday, july 15, 2015

DSS heightens manhunt for NNPC officials Adeola Yusuf

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he Department of State Security (DSS) has heightened the man-hunt for top shots of the Nigerian National Petroleum Corporation (NNPC) for questioning over $20 billion missing revenue at the corporation.

New Telegraph gathered from reports on Reuters that the agency has summoned Group Executive Director for refining and petrochemicals, and other Directors for questioning 11 times since May. Last month, Nigeria’s President, Muhammadu Buhari, who was petroleum minister when the Nigerian National Petroleum Corporation (NNPC) was set up in 1977, dissolved the board of the corporation.

Meanwhile, the DSS has been carrying out investigations.

"The DSS has been harassing some of us," said Ian Udoh, NNPC's group executive director for refining and petrochemicals, who has been hauled in for questioning 11 times since late May. The NNPC represents interests in oil and gas exploration, manages

the energy sector and is the regulator, making it arguably the most important institution in Africa's biggest economy and top crude producer.

"There is a siege mentality here at the moment," said Udoh, an NNPC veteran of 36 years. He said Buhari's initiative had given fresh legs to media coverage of the accounting holes worth over $20 billion identified by two separate investigations, and

P

resident Muhammadu Buhari's appointment of new service chiefs yesterday elicited commentaries from some retired military officers of the Nigeria Armed Forces. A former Minister of Police Affairs and one time General Officer Commanding (GOC) 1st Mechanised Infantry Division, Major General David Jemibewon; a former Provost Marshal of the Nigeria Army, Brigadier General Idada Ikponmwen and one of the ring leaders of the April 1990 military coup, Colonel Tony Nyam were among those who hailed the decision to effect a change of guards on the military.

Jemibewon described the new appointments as a welcome development which has long been expected in view of the resurgence of terrorism in

that the public pressure was dominating management meetings.

As if to underline the point, soldiers guard the building from raised platforms, and visitors are required to go through four separate security checks.

In the shadow of one of NNPC towers, a fleet of sleek 4x4 vehicles can be seen in the car park.

But inside, the carpets are threadbare and window frames are rusting,

symbolic of the decay that has befallen NNPC over the years.

In reform proposals seen by Reuters, Buhari's advisers have recommended a rootand-branch overhaul of Africa's biggest oil industry The oil sector provides the government with roughly 70 per cent of its revenue, and the slump in crude oil prices since last year has hit the economy hard.

Dan Atori MINNA

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t was a clash of the titans as the Officers and Men of the State Security Service (SSS) yesterday evening engaged in a fight with the Chief Press Secretary to the Niger State Governor, Dr. Ibraheem Dooba, after the latter was summoned by the Deputy governor.

The brawl happened in the evening at about 6pm.

According to the CPS, who was battered with clothes torn, "I have re-

parts of the country. According to him, by these appointments, Buhari has assembled a good team to help him in prosecuting the war against the insurgency and terrorism plaguing the country.

"I therefore think that what happened is a normal thing. Those they changed, replaced some people at a particular time and change must be a continuous process. Six months ago, President Buhari was not even the President of the country.”

"I think that the President has by this appointment assembled a good team to help him in prosecuting the war against the insurgency and terrorism plaguing the country. Look at the names, particularly the Chief of Defence Staff; that is the highest position in the Armed Forces and the person appointed is a Major General and he is a young person."

Niger Delta Ministry decries poor funding of projects Bamidele said the situation has been impeding the mandate of the ministry to empower the people of the Niger Delta.

Bamidele explained that since August 2014, the ministry had not received any capital per head.

She said the development had stalled a lot of projects.

The Permanent Secretary her delegation appealed to the president to assist them in sourcing for funds for the ministry’s projects.

“I came in from the

Ministry of Niger Delta on the directive of the President to brief him on the activities of our ministry, mandate, vision, mission, activities, challenges and what we will like His Excellency to look into.

“Such challenges include funding. Since August 2014, we have not received any capital per head up till today. So, a lot of our projects are being stalled and we don’t want abandonment of projects. So, we ask that funding can be sourced for the ministry’s projects,” she said.

LAUTECH ASUU berates Ajimobi, Aregbesola over 13 months, salary arrears

of Ladoke Akintola University, Dr Oyebamiji Oyeleke, stated that the "two owner states jointly owe the university workers 13-months salaries forcing the university to keep the system running via financial interventions".

While lamenting that there has been no visible projects on the campus in the last five years, Oyebamiji said the projects visible on the campus are products of ASUU struggles and TETFUND interventions.

Anule Emmanuel Abuja

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he Ministry of Niger Delta Affairs yesterday lamented over its inability to fund major projects that would have improved the lives of citizens in the oil-rich region due to paucity of funds.

Briefing State House correspondents after a meeting with President Muhammadu Buhari, Permanent Secretary of the ministry, Mrs. Fatima

Sola Adeyemo Ibadan

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he Academic Staff Union of Universities (ASUU), LAUTECH, Ogbomoso chapter, yesterday berated the Oyo and Osun state governments for abdicating their responsibilities, resulting in workers being owed 13 months salaries.

The union, in a statement made available to New Telegraph in Ibadan, demanded regular payment of salary from monthly governmental subventions and not from the internally generated revenue which is supposed to be used for other welfare and development projects.

Rising from an emergency meeting held on the Campus, ASUU Chairman

7

SSS, CPS to Niger governor fight

L-R: Public Relations Manager, MultiChoice Nigeria, Caroline Oghuma; Marketing Manager, GOtv, Oludare Kafar and Public Relations Manager, Efe Obiomah, during the 3rd GOtv Boxing Night press conference in Lagos …yesterday.

Security: Jemibewon, Ikpomnwen, Nyam hail change of guards Onwuka Nzeshi and Chukwu David

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national

signed. I have resigned. Oh no, I didn't do anything and I am still surprised at what has happened. I came after the Protocol officer to the Deputy governor told me the deputy governor wants me to come.

"Meanwhile, some people came to look for the Deputy Governor and he had instructed me to go bring them into the government house.

"When we got to the deputy governor's office, one those SSS officer stopped me from going in and I tried to explain but he pushed me. That was how the man-handling started.”

It however took the presence of the ADC to the Governor, Isa Murtala Raji, for the CPS to be whisked out from the mass attack by the men in suit.

Eyewitness however told our Correspondent that the CPS wanted to beat protocol and when prevented, he slapped a young SSS officer attached to the deputy governor's office.

"The CPS slapped the Security man two times and told him, go and tell the deputy governor that I am not coming.

"It was after he slapped the young officer and was leaving that the others accosted him and the brawl ensued. He kept shouting, I have resigned, I left very important jobs I was doing to come and work here and these things are happening to me," the witness said.

Marketers source fuel from Ghana, Togo Segun Edwards

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arketers of petroleum products yesterday said that they were finding it hard to get fuel from the Nigerian National Petroleum Corporation (NNPC), the sole importer of the product at the moment.

Consequently, they said they have resorted to sourcing for refined petroleum products from neighbouring countries such as Ghana, Togo and Cameroun.

According to petroleum downstream sources, some marketers, who have reportedly lost interest in the Federal Government’s indecision on the continuation of the fuel subsidy regime, are also diverting their imported products to the neighbouring countries, where they are sure of getting real value for their products.

8

News

Glo leads in new subscriber acquisition — NCC Report

G

lobacom has emerged the preferred choice of new telephone subscribers as the network recorded the highest number of new lines with 2,263,346 activations in the first five months of this year.

In the latest subscriber figures for the telecom industry released on its website by the Nigerian Communications Commission (NCC), Glo which had 28,219,089 active lines at the end of December 2014 recorded a subscriber base of 30,482,435 at the end of May 2015, showing an addition of 2,263,346 new customers.

Globacom’s figure showed the highest growth in the industry within the first five months of 2015.

Airtel which came second recorded 1,983,195 new subscribers for the same period, while MTN had 1,970,176. Etisalat had the least growth with 1,493,515 new customers.

This marks the third time in the last one month that Glo has topped the chart as the preferred network in the Nigerian telecom industry.

Early in June, the National Bureau of Statistics (NBS) had credited the company with driving the growth witnessed in the Nigerian telecommunications industry in the last 12 months.

FG declares two-day Id-el-fitr holiday Johnchuks Onuanyim Abuja

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he Federal Government yesterday declared two days holiday for the celebration of Idel-fitr for Muslims.

The days as declared by the government are Friday 17 and Monday 20.

In a statement from the Ministry of Interior, Chief Press Secretary, Alhaji Yusuf Isiaka, the Permanent Secretary Ministry of Interior, Abubakar Magaji made the declaration on behalf of the Federal Government, while he enjoined all Muslim faithful and Nigerians in general to extend the spiritual benefits of Ramadan, which include love, peace and sacrifice for the development of the nation.

He also urged Nigerians to support the administration of President Muhammadu Buhari in his determination and sustained efforts towards building a peaceful, united and virile nation.

national

wednesday, july 15, 2015 NEW TELEGRAPH

El-Rufai, Kaduna beggars reach truce Ibraheem Musa Kaduna

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overnor Nasir El-Rufai and beggars have reached an understanding on the recent ban on street begging and hawking in Kaduna State.

That is following the government’s decision to rehabilitate and train the disabled persons on

various skills yesterday.

El Rufai, who made this known after visiting the Kaduna State Rehabilitation Centre, which is located at Kakuri and the beggars’ colony at Kano road, said that the interest of a group who think they have the right to beg cannot override the security of over eight million residents of Kaduna State.

It will be recalled that Kaduna State government

had banned street begging and hawking, following the suicide bomb attack which claimed 25 lives in Zaria last Tuesday. The government said that the measure was for security reasons.

At the weekend, beggars took to the streets in protest of the ban and threatened to continue begging because government has not given them an alternative source of livelihood. In addition,

the beggars threatened to sue El Rufai for defamation, for linking them with the Zaria bombing.

However, the physically challenged have agreed to sheathe their sword and give up begging as El Rufai promised to rehabilitate the Rehabilitation Centre which has the capacity to house and train 500 physically challenged people.

The governor clarified that no beggar will be re-

patriated on the ground that he is not an indigene of Kaduna State, adding that all residents of the state will be given equal opportunity under his administration.

El-Rufai also promised to acquire a land for the disabled at the Kano Road Beggars Colony, which will be located close to their place of abode in order to build a training centre for them Responding, head of the beggars in Kaduna State, Abdullahi Samaila, commended El Rufai for visiting them and promised to cooperate with him. He further said that they do not derive pleasure in begging for alms but were compelled to do so out of survival. Abdullahi promised that his members will get out of the streets once the governor fulfills his promise.

Ship owners to provide 700,000 jobs from fuel transfer Bayo Akomolafe L-R: Representative of the FRSC Corps Marshal, Mr. Jonas Agwu; representative of the Commandant, National Defence College, Amb. Chijioke Wigwe and Chairman of the occasion, Prof. Oshita Oshita, at the Inter-Agency Collaboration for Crises Management and Peace-building for Security Agencies, Humanitarian Workers, Civil Society Organisations and other stakeholders in Abuja …yesterday.

Rivers councils: Confusion US extradites six Nigerians follows court judgements from South Africa Emmanuel Masha Port Harcourt

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he interpretations of the decisions of courts on the local government chairmen in Rivers State by the Peoples Democratic Party, PDP and the All Progressives Congress, APC has caused uncertainty over the fate of both chairmen and councillors in the state.

The two political parties have disagreed on the judgment delivered by the Federal High Court, Port Harcourt to sack 22 chairmen, and the interpretation of proceedings at the National Industrial Court sitting in Yenagoa.

The caretaker committee chairmen appointed

by Governor Nyesom Wike resumed work on Monday but the APC, which continues to lay claims to the councils, entered on a meeting yesterday evening on the next line of action.

The APC chairman, Dr. Davies Ibiamu Ikanya, had claimed the National Industrial Court has reinstated the 22 chairmen, and has appealed to the Inspector

General of Police, Solomon Arase to reinstate them.

The chairman of the PDP, Chief Felix Obuah, however, alleged that the APC was unnecessarily misinforming the public, stressing that the National Industrial Court did not order that the sacked chairmen to be re-instated.

Ikanya said:“We appeal to IGP Solomon Arase to immediately take action to reinstate the illegally sacked LG Chairmen as ruled yesterday by the National Industrial Court sitting in Yenagoa, Bayelsa State.

“We also urged IGP Arase to ensure the arrest and prosecution of the misguided elements Wike constituted as caretaker committees to run the affairs of the Rivers State Councils and stop them from executing Wike’s plot to use them as conduit pipes to plunder and milk the treasury of Rivers State dry.”

The PDP chairman, however, blamed the APC governorship candidate, Dr. Dakuku Peterside, for promoting falsehood in a bid to cause anarchy in the state.

Tunde Sulaiman

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ix Nigerians have been extradited from South Africa to Gulfport, Mississippi in the United States of America, to face a ninecount federal indictment in the Southern District of Mississippi over various internet fraud schemes. A total of 20 defendants were charged in this case.

According to a tweet by the US Justice Department on Monday, Assistant Attorney General, Leslie R. Caldwell of the Justice Department’s Criminal Division and U.S. Attorney, Gregory K. Davis of the Southern District of Mississippi made the announcement.

The Nigerians extradited are: Oladimeji Seun Ayelotan, 30; Rasaq Aderoju Raheem, 31; Olusegun Seyi Shonekan, 33; Taofeeq Olamilekan Oyelade, 30; Olufemi Obaro Omoraka, 26; and Anuoluwapo Segun Adegbemigun, 39, and are charged along with 15 others in an October 7, 2014, indictment with conspiracy to commit mail fraud, wire fraud, bank fraud, conspiracy to commit identity theft, use of unauthorised account access devices, theft of U.S. government

funds and conspiracy to commit money laundering.

The charges stem from the defendants alleged participation in numerous Internet-based complex financial fraud schemes, including romance scams, re-shipping scams, fraudulent check scams and workat-home scams, as well as bank, financial and credit card account takeovers.

According to the allegations in the indictment, from as early as 2001, the defendants identified and solicited potential victims through online dating websites and work-at-home opportunities.

In some instances, the defendants allegedly carried on fictitious online romantic relationships with victims for the purpose of using the victims to further certain objectives of the conspiracy. For example, the indictment alleges that the defendants convinced victims to ship and receive merchandise purchased with stolen personal identifying information (PII) and compromised credit card and banking information, to deposit counterfeit cheques, and to transfer proceeds of the conspiracy via wire, U.S. mail or express delivery services.

N

igerian Ship-owners Association (NISA) has said that the Federal Government should allow the Nigerian ship-owners do the lighterage of the monthly 1.8billion litres of petroleum product being supplied into the country by foreign vessels.

The association noted that lighterage would take out of the streets about 700,000 unemployed Nigerian youths.

Lighterage is the process of transferring cargo between vessels of different sizes, usually between a barge and a bulker or oil tanker.

The association noted that it had entered into another agreement, this time with American and Turkish partners over provision of vessels not limited to product tankers.

Already, the association has reached an agreement with the Greek shipowners to provide 40 ships for its members.

The President of the group, Capt. Niyi Dada Labinjo, explained yesterday that NISA was in talks with the Americans and the Turkish to acquire some vessels not limited to product tankers alone.

The president said that would generate N5.4billion monthly earnings and would reduce capital flight.

Labinjo said that government had assured NISA that only Nigerian vessels would conduct lighterage operations.

NEW TELEGRAPH wednesday, july 15, 2015

Johnchuks Onuanyim and Adeola Yusuf

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he Federal Gover nment has signed a one-year extension of its current Management Contract for the Transmission Company of Nigeria (TCN) with Manitoba Hydro International (MHI) Ltd. of Canada.

That was even as it said that the country’s power transmission has hit a record high of 4,545MW. According to a statement from the General Manager, Public Af-

NLNG: Group tells FG, APC to apologise

News

national

FG extends contract with Manitoba

fairs, Seun Olagunju, the extension follows a three-year Management Contract signed in 2012 to manage TCN’s electrical power transmission, system operation and market operation undertakings, as well as train TCN personnel.

The contract, which was signed by TCN, MHI and the Bureau of Public Enterprises, and which would expire on July 31, 2015, has now been extended to July 31, 2016.

The statement stated also that MHI will con-

l Power transmission hits 4,545mw tinue to assume responsibility for the management and control of TCN’s entire operations, working alongside their Nigerian counterparts to transform the company into a technically and financially efficient, stable, and sustainable company.

TCN said that “MHI working together with TCN staff have achieved a wheeling capacity of 5,300 MW and reduced system

losses from over 12 per cent to approximately eight per cent. “In addition, system collapses have reduced significantly, from 22 in 2013 to nine in 2014, while the duration of collapses has reduced from more than 2.5 hours to approximately 30 minutes.

The statement said, "The fourth year of the contract will focus on further increasing TCN’s capacity to transmit power in the grid, in

anticipation of rising levels of generation in the country. Additionally, MHI will facilitate the unbundling of TCN into two new organizations, the Transmission Service Provider and the Independent System Operator, while simultaneously building the capacity of local management to take over the leadership of these organizations at the end of its contract".

Meanwhile, Power transmission in Nigeria

Chris Ugwu

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L–R: President, Coca-Cola International, Ahmet Bozer; Supply Chain Director, John Purchase; Managing Director, Nigerian Bottling Company (NBC) Limited, Ben Langat; Group Regional Director, Coca-Cola Hellenic Bottling Company, Zoran Bogdanovic and Line Manager, NBC Limited, David Omowaye, during a plant tour of NBC Ikeja, Lagos.

JAMB fixes cut-off marks for varsities, poly, COEs Yekeen Nurudeen Abuja

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he Joint Admissions and Matriculation Board (JAMB) yesterday unveiled cut-off marks for admission into the nation's tertiary institutions for the 2015/16 academic year. It pegged the cut-off mark for universities at 180.

The Board also pegged the cut- off marks for Polytechnics and Colleges of Education as well as National Innovation

Diploma awarding institutions at 150.

The decision was arrived at the sixth combined Policy Meeting on Admissions to Degree, Nigeria Certificate in Education, National Diploma and National Innovation Diploma-awarding institutions.

Stakeholders at the meeting also agreed on the admission quota for the 2015/16 academic year, approving a 60-40 ratio for science and arts related programmes in all Universities, while a ratio

of 70-30 goes for technology and non-technology related courses in the Polytechnics.

Registrar and Chief Executive Officer of JAMB, Professor Dibu Ojerinde, cautioned tertiary institutions against flaunting admissions regularization process, saying with effect from the current academic session, the Board would sanction defaulters, who seek for regularisation of admissions.

In a power-point presentation at the meet-

ing, the JAMB Registrar said a total of 1,436,867 candidates, representing 97.38 per cent applied for degree awarding institutions as first choice preference.

He also said that candidates course preference for National Certificate in Education(NCE) stood at 18,341,representing 1.24per cent.

The 2015 Unified Tertiary Matriculation Examination(UTME) cumulative performance statistics of candidates also released by JAMB indicated that 455,639 candidates scored 200 and above.

Those who scored 190199 stood at 207,720 while those below 160 were just 122,091 candidates.

EFCC quiz CBN contractor over N60m dud cheques NSCDC Commandant General being quizzed by the EFCC the purchase and supply of may bow out soon Segun Edwards based on account of a peti- surveillance equipment in

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he Economic and Financial Crimes Commission (EFCC) has arrested a female contractor of the Central Bank of Nigeria (CBN) for allegedly issuing N60million dud cheques to a business partner in Abuja.

The suspect, Folake Joy Yobah, who is the Chief Executive Officer of Sky High Ventures Limited, Abuja, is

has hit a record high of 4,545 Mega Watt.

The Transmission Company of Nigeria (TCN), which announced this yesterday, declared that the feat was achieved at 21.45hrs on Monday.

The previous power transmission peak of 4517MW was attained on 23rd December, 2012.

General Manager, Public Affairs, TCN, Seun Olagunju, who made this known in a statement, added that the feat was achieved due to improvement in fuel supply to the power generation plants.

Centrespread lauds New Telegraph’s

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socio-political action group, Move On Nigeria, has lashed out on All Progressives Congress, APC and the Federal Government over the handling of payments from the Nigerian Liquified Natural Gas, NLNG. The group said that both the APC anf the President Mohammadu Buhari-led Federal Government must apologize for misleading Nigerians on the issue of bailout funds for the states.

In a statement signed by Mr. Clem Aguiyi, National Coordinator of the group, it said that the demand comes in the light of the revelations made recently by the Managing Director of the Nigerian Liquefied Natural Gas (NLNG), Babs Omotowa, that the money they paid to the Federal Government was actually the 2014 Corporate Income Tax (CIT) and not dividends as claimed by the Federal Government. The group further said that the APC and the president’s publicists had variously claimed at first that the money was sourced from Excess Crude Account and then later that it was dividends. It described all the claims as lies.

The statement said: “Move on Nigeria insist that they should apologize to Nigerians for what it called “deliberate falsehood."

9

tion written by lawyers on behalf of the United Surgical Limited for a breach of agreement and fraud.

The suspect, who was arrested last Friday is accused of issuing the said dud United Bank for Africa cheques to Chief Emmanuel Uzomah, the chairman of United Surgical Limited as payment for the N60million loan she received for

the execution of a N222, 836, 551 07 contract awarded to her by the Central Bank of Nigeria.

It was revealed that officials of the EFCC had swung into action by arresting the suspect for questioning while further investigation into the allegations continue before Folake’s eventual arraignment in court.

Johnchuks Onuanyim Abuja

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ar ring any last m i nu t e ch a n g e of arrangement, the Commandant General of the Nigeria Security and Civil Defense Corps (NSCDC), Dr. Ade Abolurin, may this week disengage from

office, having served 12 years in the capacity of CG. Abolurin was appointed CG NSCDC in 2003 by the former President Olusegun Obasanjo and till date, he has clocked 12 years in office.

The Act that establishes the Corps provided for five year tenure, which is renewable.

he management of an advertising agency, Centrespread Company Limited, has extolled the sterling qualities of New Telegraph has maintained within a short period it made entrance into the market.

The Chief Operating Officer (COO), Centrespread, Mr. Wale Akintunde, made the commendation yesterday when the management of New Telegraph led by its Managing Director/Editor-in- Chief, Mrs. Funke Egbemode, paid the company a courtesy visit.

Akintunde described the media team as rear gems in journalism profession, who have weathered the storm and already making a credible impact in the society.

He noted that the company appreciates the innovations New Telegraph has brought to bear in journalism practice adding that the idea of spreading across the nation will give the media outfit a wide reach which will boost patronage to the reading public.

He called on the management to sustain its dynamism and creativity to carve a niche in the industry.

He commended the appointment of Egbemode as the company’s Managing Director, adding that “we have no doubt that the reputation of New Telegraph newspapers, as one of the frontline media establishments in the country, would be enhanced under your able leadership.”

change of name

MATILDA

I formerly known and addressed as Afiocha Oyinye Gift now wish to be known and addressed as Afiocha Onyinye Matilda. All former documents remain valid.

General public should take note.

WEDNESDAY,JULY 15, 2015 NEW TELEGRAPH

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Metro CULTISM

Fear has gripped the residents of Ogun community as alleged rivalry between cult groups has claimed the life of a businessman Taiwo Jimoh

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32-year-old businessman has been murdered by three men wearing black at Shimawa in Sagamu Local Government Area of Ogun State.

Witnesses narrated how the victim, Oluwaseun Adebayo, was shot and killed.

They said he was trailed and killed by three men on motorcycle, all wearing black clothes. The residents added that they were immediately alerted by the black attire of the three men.

The men allegedly trailed the deceased and shot him point blank on the chest and head to be sure he was dead.

A resident, who gave his name as Esa Oke, said the body of the victim spent the night on the road before it was taken away by the policemen the following day.

He said: “The man was shot dead beside the Community Primary School in our area. Imagine if the shooting had happened during school hours; one of our children could have been hit by stray bullets.

“We heard that the man was a member of a cult gang.

We want these cult men to go into the bush and fight their war. They should not do it where people live. We have warned hoodlums in Ogijo area to keep off our area as rival hoodlums are said to be planning a reprisal attack.

That information alone has caused tension in our community.”

Gunmen kill businessman

Ogun CP, Abdulmajid Ali

Adebayo’s murder is believed to be the handiwork of cult members. The action led to some residents leaving the area over fear of a repri-

sal attack from the victim’s colleagues. The incident occurred around 5pm.

One of the brave residents who stayed said: “Adebayo

doesn’t live in this neighbourhood, but we knew him as a trader. He was a businessman who used to come around to buy and sell vehicle scraps.

Cephas Iorhemen

Beheading: Benue communities at war

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State.

Angry people Igede in Obi Local Government Area reportedly burnt many houses following the killing of their son, Ejah Iji. Iji was beheaded on Monday morning by a man identified as Raphael Agashe, who hails from Ojenyo.

The suspect was later apprehended by the police in Otukpo Local Government Area with Iji’s head in a polythene bag.

It was gathered that discord triggered off between Agashe and Iji in the farm after which the former used the machete

Makurdi

ighting yesterday broke out at Igese community, Ojenyo ward in Ado Local Government Area of Benue

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

of the latter to cut off his head.

Reacting to the incident, the caretaker Chairman of Ado Local Government Area, Mr Paul Udenyi, said millions of naira worth of property were lost as a result of the incident.

According to him, some of the displaced residents are taking refuge in a nearby primary school.

Udenyi said the Special Adviser to the Governor on Security Matters, Col. Edwin Jando, had already promised to convene a meeting with traditional rulers and other relevant stakeholders to seek

He was on a motorcycle on the day he was killed.

“A few minutes after his motorcycle passed, another followed. There were three men on the motorcycle and they were all wearing black clothes. Suddenly, we heard gunshots.”

Other residents alleged that the victim was a cult member. They also said that his killers trailed him from Car Park ‘C’ Motor Park area of the Redemption Camp to Eru Oloja area, before shooting him.

Adebayo was heading to the apartment he used to stay while in the area when his assailants swooped on him.

It was gathered that after the incident, worried and scared residents marched to Ogijo Police Division, protesting the reckless shooting in the residential area and demanding an immediate arrest of the killers.

A resident, who identified himself as Idowu, said: “We saw the victim on a commercial motorcycle, going home that fateful day. Immediately his motorcycle passed through the community, we saw another commercial motorcycle. The second motorcycle had a rider and two passengers.

“They were all wearing black clothes. They waylaid Adebayo. Before we knew what was happening, we heard gunshots. We all started hurriedly shutting our shops for fear of being hit by stray bullets. The assailants shot him near a community primary school and fled the area.”

The state Police Public Relations Officer (PPRO), DSP Muyiwa Adejobi, confirmed the incident.

He said the police had arrested two men in connection with the shooting.

The PPRO added that the suspects would be charged to court today.

ways of ending the crisis.

In his reaction, former Chairman of the local government, Chief Ekpe Ogbu, described the incident as unfortunate.

He said the two warring tribes, who share a common boundary, had coexisted for several years.

The Assistant Commissioner of Police in charge of Otukpo Area Police Command, Samuel Drakoji, who confirmed the incident on the phone, said he had drafted his men to the scene to forestall further breakdown of law and Agashe order.

Metro 11

NEW TELEGRAPH WEDNESDAY,JULY 15, 2015

City Briefs Three die in police, robbers’ gun duel Joe Obende Warri

Four die in Sagamu-Benin Expressway auto crash

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he police in Warri, Delta State, have killed three armed robbers during a gun duel just as they arrested over 35 cult members.

The operational vehicle of the robbers was also impounded by the police.

The police said they were already investigating the owner of the vehicle to his/her involvement in the gang and its activities.

The robbers trailed a young lady to her house, robbed her at gunpoint and made away with N1,000,000 she had earlier withdrawn from a bank.

The Commissioner of Police, Mr Usman Alkali, said items recovered from the scene of the shootout included one doublebarrelled gun and one single cut-to-size gun, a black Volkswagen Golf 3 car with registration number ABH 401 AA (Delta), three live and eight expended cartridges, one old number plate, GL 811 AAA, a permanent voter’s card bearing Okoromadu Mofe Anthoneh.

Lagos seals 29 illegal drugstores Muritala Ayinla

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he Lagos State Task force on Fake, Counterfeit and Unwholesome Processed Foods has sealed at least 29 illegal pharmacies and patent medicine stores across the state.

The Permanent Secretary, Ministry of Health, Dr Modele Osunkiyesi, who disclosed this, said the government was worried by the danger posed by the activities of illegal operators of patent medicine and pharmaceutical stores in Lagos.

Osunkiyesi added that 29 stores were sealed off for various offences contrary to the provisions of the law on the operations of pharmacies and patent medicine stores.

According to the permanent secretary, the latest closure came on the heels of the government’s renewed mandate to the task force to comb every nook and cranny of the state for operators of illegal patent medicine and pharmaceutical stores.

The scene of the accident

Kunle Olayeni Abeokuta

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gain, four persons, including a commercial motorcyclist, were killed yesterday in

an auto crash on SagamuBenin Expressway in Ogun State.

The crash, which occurred near the old tollgate at Sagamu about 8pm on Monday, involved five vehi-

Rainstorm displaces 1,000 villagers in Niger Dan Atori MINNA

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ainstorm has destroyed scores of buildings and rendered homeless over 1,000 persons including the district

head of Kuta town in Shiroro Local Government Area of Niger State.

The destruction is estimated at over N500 million.

A senator representing Niger East Senatorial District, David Umaru, has appealed to the National Emergency Man-

The deaf protest marginalisation in Edo Cajetan Mmuta Benin

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embers of the Edo State Association of the Deaf yesterday staged a peaceful protest in Benin over alleged marginalisation and neglect by the government.

The people bemoaned what they described as dearth of special education teachers, lack of employment to meet with the needs of their families and to cater for their children, need to provide hostels for the deaf students, absence of learning and reading (contemporary) materials in their school.

They also called for re-introduction of free West African Examination Council (WAEC) and National Examination Council (NECO) enrolment for the deaf and the physically-challenged students, among several other demands.

The Chairman and South-South Coordinator of the association, Ekhorrutomwen Iyobosa, said “of all clusters of people living with disabilities, the deaf are the most neglected possibly because deafness, being a hidden disability, is shrouded in mystery”.

cles, including a truck carrying cement, lorry conveying flour and a commercial bus.

It was learnt that a dieselladen tanker on its way to Lagos, had earlier crashed

and spilled its content on the expressway on Monday night.

But the other vehicles, which were said to be heading towards Sagamu, reportedly lost control when they ran over the spilled diesel.

The accident led to a gridlock on the highway while motorists struggled to divert to a single lane.

Officials of the Federal Road Safety Commission (FRSC), Traffic Compliance and Enforcement Corps (TRACE) and policemen were controlling the traffic.

The survivors of the accident were said to have been taken to the hospital.

Twelve persons, including students of Olabisi Onabanjo University (OOU), Ago-Iwoye, died on the same Sagamu-Benin Expressway last month.

The accident involved a DAF trailer carrying container marked Lagos BDG 779 XE and a Mazda bus with registration number Lagos XV 311 MUS.

File picture of damaged roof by rainstorm

agement Agency (NEMA) to immediately come to the people’s aid.

Umaru made the call yesterday during a visit to the victims whose houses were blown off by the storm.

The lawmaker, who described the disaster as monumental, said the intervention of government and NEMA was urgently necessary to cushion the effects of the storm on the victims.

Commiserating with the people, Umaru promised to contact relevant authorities

‘Ikotun-Egbe Road rehabilitation begins next week’ Muritala Ayinla

Escaped prisoner, others M held for abduction Adesina Wahab Ado-Ekiti

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olice have arrested a 35-year-old man, Olusola Adewale, one of the inmates who escaped from Ado-Ekiti Prisons last November and two others in connection with the resurgence of kidnapping in Ekiti State.

The suspects were arrested for the recent abduction of an 80-year-old woman, Mrs Rose Aina.

The two other suspects are Owolabi Ojo (48) and Adedayo Popoola (48).

The octogenarian was kidnapped at Ilogbo-Ekiti in Ido/ Osi Local Government Area of Ekiti State last week by gunmen.

About 6.30am yesterday, the police Anti-Kidnapping Squad freed Mrs Aina at Ita-Ogbolu town in Ondo State.

While parading the suspects yesterday at the command’s headquarters, the Ekiti State Commissioner of Police, Mr Etop James, said two of the suspects were arrested at Ita-Ogbolu, while the victim’s driver, who allegedly gave clue on how the woman could be kidnapped, was arrested at Ilogbo-Ekiti.

for urgent intervention in alleviating their suffering.

Welcoming the senator to his palace, the district head of Kuta, whose palace was partly destroyed by the rainstorm, said his people were shocked and devastated by the disaster.

The district head expressed appreciation to Umaru for finding it expedient to share the pains of the people at this moment.

He appealed to government to assist the victims with palliative measures for them to pick up their lives again.

otorists on Egbe-Ikotun Road, Lagos can now heave a sigh of relief as Governor Akinwunmi Ambode yesterday promised to order contractors to commence rehabilitation of the road next week.

Ambode, who described the deplorable state of roads in the axis as unacceptable, spoke when his convoy drove through the pothole-ridden roads.

He assured the residents that he would not allow them to go through the pains of deplorable roads.

Held in the gridlock, the governor alighted from his vehicle to carry out on-thespot assessment of roads in the area.

Ambode then promised that rehabilitation work

would commence on the road immediately after Ramadan, which ends this week.

Describing the state of the road and the agony faced by the motorists, traders and residents as unacceptable, the governor assured the residents who trooped out en masse that the road would be rehabilitated.

He said: “I have come personally to see for myself the state of Ejigbo Road and it is very clear that this is totally unacceptable. There is no other remedy than to let our officials come to site within the next one week and the people of this neighbourhood should be guaranteed that work will start on Ikotun-Ejigbo Isolo axis within the next seven days.”

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News

WEDNESDAY,JULY 15, 2015 NEW TELEGRAPH

SOUTH-WEST

NLC orders Osun workers to continue strike Adeolu Adeyemo Osogbo

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he Chairman of the Nigeria Labour Congress, NLC, in Osun State, Comrade Jacob Adekomi yesterday announced that workers in the state would resume their suspended industrial action with immediate effect.

Adekomi, who spoke on the Nigerian Television Authority, NTA, late evening of yesterday, insisted that workers should not resume as earlier directed.

The reason, according to him was that some workers were not even paid up to 50per cent of their salaries for the salary paid by the state government, while some received 50 per cent and many are yet to receive theirs.

Earlier yesterday, Osun State labour leaders had said that they were poised for a fresh confrontation with the state government over what it described as government insincerity on the payment of the workers’ salaries in the state for the months of January and February.

Leaders of the workers in the state argued that, the agreement reached in the memorandum of understanding signed with the government to suspend workers strike on Monday has not been adhered to by

the government.

They lamented that the government has betrayed the agreement by paying level one to seven workers their full January salary while those on level eight and above were only paid half of their salaries for the same periods.

The labour leaders stressed also that, some workers are yet to receive banks alert, indicating the payment of their salaries.

Adekomi had told journalists yesterday that workers in the state would meet today or tomorrow (Thursday) in a congress to determine the next line of action.

He stated that, the 50 per cent salaries in the state was rejected and unacceptable to the generality of the state workers and assured workers that, there would be no retreat, until the government agree to their position.

The NLC chairman while addressing the issue of those who are yet to receive alert on their salaries, he charged them to remain in their various homes until, they are alerted.

In its reaction, the All Progressive Congress (APC) Director Of Publicity and Director and Strategy, Barrister Kunle Oyatomi said: “the 50 percent received by the workers in the state was programmed before yesterday meeting with the labour leaders.”

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its Directorate of Media and Strategy after its meeting in Osogbo yesterday.

According to the communiqué signed by CSCEO Chairman, Comrade Adeniyi Sulaiman, the group called on the people of the state to ensure the monitoring of the spending of the funds by the Governor Aregbesola led administration, stating that the diversion of the funds to other areas apart from payment of salaries must be pre-

Wife of Lagos State Governor, Mrs. Bolanle Ambode (middle) with others, watering a newly planted seedling during the annual Tree Planting Exercise at the Lagos City College, Sabo, Yaba…yesterday.

vented.

While thanking the people for their tremendous support during its rally, the group urged them to, remain resolute in speaking and acting against every anti-people policy and acts aimed at impoverishing people of the state.

It noted that because nothing was done to curb the attack on the protesters on Tuesday, 7th July another attack was staged by the pro-government group

opposite the Old governor’s office on Thursday, 9th July, 2015, destroying the newspapers stand and inflicting injuries on innocent citizens accused of making comments against the government over the unpaid salaries issue.

It said: “The coalition is disturbed by the role played by the police as well as the apparent freedom enjoyed by the state boys who wreak havoc on innocent citizens with impunity.”

Jonathan lost to PDP’s internal wrangling, says Kuku Babatope Okeowo Akure

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he former Special Adviser to President Goodluck Jonathan on Niger/Delta Affairs and former Chairman of Amnesty Programme, Hon Kingsley Kuku, yesterday blamed the defeat of the People’s Democratic Party (PDP) in the last election on the internal wrangling among the party stalwarts across the country.

Kuku who was speaking with reporters yesterday

in Akure, declared that the party was battle-ready to retain the seat by winning the next gubernatorial election in the state.

He said “ I want to tell you that Ondo State is a PDP state and will remain so, even after Mimiko has left. From the beginning any time you see PDP losing in election in this state, it will be as a result of the unresolved crisis within the party.

“Look at what happen in the last general election,

lAs gov, wife harp on preservation of environment

Muritala Ayinla

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Activists ask Aregbesola to disclose bail-out for Osun

he Civil Societies’ Coalition for Emancipation of Osun State (CSCEO), has called on Governor Rauf Aregbesola of Osun State, to reveal the sum of money he received from the Federal Government as bail-out to rescue the state from its indebtedness to workers, saying it would help stakeholders to monitor the spending of the funds.

CSCEO stated this in a communiqué released by

Ambode promises to rehabilitate Ikotun-Egbe Road

we lost the Presidential election in this state because we could not resolve our internal crisis but when we were able to settle the matter the result of the House of Assembly election changed in the party’s favour. This showed that if there is no crisis, no party can defeat us “ On next year governorship election, Kuku said the power was likely to shift to either the North or South senatorial district because the incumbent Governor Olusegun Mimiko, hails

from Ondo Central senatorial district, noting that it would be more appropriate if the next Governor should emerge from either of the two remaining senatorial districts.

While appealing to members of the party to continue to work and support the leadership of the party ahead the next year election, the former Presidential aide said as one of the leaders of the party he was ready to support any candidate selected for the election.

esidents of Egbe-Ikotun area of Lagos, can now heave a sigh of relief as Governor Akinwunmi Ambode, yesterday promised to commence rehabilitation of the road next week.

The governor, who described the deplorable state of the roads on the axis as unacceptable, spoke when his convoy drove past through the road ridden with pot holes , prompting his assurance to the residents that he would put the road back into shape.

Held in the traffic gridlock, Governor Ambode, had to alight from his vehicle to carry out on-the-spot assessment of the dilapidated roads and insisted that rehabilitation work would commence on the road immediately after the end of the Ramadan.

Describing the state of the road and the agony faced by residents in the area as unacceptable, the governor assured the people that the road will get a face lift soon.

The Governor who appealed to residents for understanding when the construction commences, said efforts will be made towards providing relief.

Meanwhile, the governor and his wife, Mrs. Bolanle Ambode, yesterday appealed to people in the state to do everything possible to ensure the preservation of their environment.

APC calls for Ondo speaker, clerk’s arrest Babatope Okeowo Akure

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arely a week after the petitions of the All Progressives Congress (APC) against the victory of two members of the House of Assembly, Prince Abayomi Akinruntan and Malachi Coker were dismissed, the party yesterday called for the arrest of the Speaker Mrs. Jumoke Akindele and the Clerk of the State House of Assembly, Bode Adeyelu.

Both Akinruntan and Coker were elected on the platform of People’s Democratic Party (PDP).

But the candidates of APC challenged their victories at the election petition tribunal.

However, the tribunal had last weekend threw out the petitions of two APC candidates for the two Ilaje constituencies among others, for not complying with the provisions of electoral act in filling the petitions.

But yesterday, the Publicity Secretary of APC, Abayomi Adesanya, called on the Inspector General of Police, Mr Solomon Arase, to immediately order the arrest and the prosecution of the Speaker and the Clerk of the House of Assembly for alleged conspiracy to swearing in the two PDP House of Assembly candidates for the Ilaje constituencies l and II. Mr. Abayomi Akinruntan and Mr. Coker Malachi.

Adesanya in a statement said, “it is illegal for these two gentlemen to be sworn in as Honourable Members of the State House of Assembly without certificates of return from the INEC. “We therefore call on the Inspector General of Police to immediately order the arrest and prosecution of the Speaker and Clerk for complicity in the swearing-in of Akinruntan and Malachi, as members of the State House of Assembly.”

NEW TELEGRAPH WEDNESDAY, JUly 15, 2015

Interview

Bayelsa Guber

Parliament

Governance

14, 15

16

17

41

No big deal questioning Ekweremadu for forgery – Mohammed

Dickson’s re-election gets boost

Saraki’s sermon on corruption

13

Okowa: Undoing Uduaghan’s legacy

Politics

Day el-Rufai broke down Although it is a cosmopolitan town, Zaria had so far been spared the spate of terrorist attacks that have become an almost frequent occurrence in Kano, its eastern neighbour or to some extent Kaduna, the state capital. But last week Tuesday, Zaria was rocked by a suicide bombing which left 25 people officially dead, the worst casualty yet. In this report, IBRAHEEM MUSA narrates how the attack happened

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n politics, governance and executing of projects, Malam Nasir Ahmad El Rufai, the Kaduna State governor, is not given to sentiments or emotions. Tough, straight talking and result-driven, the technocrat looks at facts and figures with professional detachment.

Consequently, to some people, El Rufai is as cold as they come, a robot-like being with neither feelings nor empathy. Last week Tuesday, that perception was shattered as tears rolled down El Rufai’s cheeks. The governor, with a few aides and Alhaji Umar

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Rescue workers at the scene of the bombing of workers in Zaria, Kaduna.

Usman Shehu, the state Commissioner of Police, were at the Sabon Gari Local Government secretariat, the scene of the recent bomb blast in Zaria.

At the scene, charred corpses, mangled vehicles and the general destruction of lives and property moved the governor to tears. For once, words failed the eloquent and fire spitting helmsman of Kaduna State. Amidst sobs, he mumbled his condolences, commiserated with the bereaved and promised to take action on the matter.

On Tuesday July 7, Zaria town was thrown into mourning as scores lost their lives in a bomb blast. Significantly, the genesis of the attack started about 17 days ago.

On June 24, Kaduna State government had embarked on a cleansing mission as civil servants, irrespective of their ranks, were mandated to undergo a verification exercise. The workers, according to reports, were asked to report with their appointment letters, letters of last promotion and a valid driver’s licence or international passport for proper identification.

According to Mrs Alisabatu Onazi, the Head of Service, the exercise will take place at three centres and they include Zaria, Kaduna and Kafanchan towns.

Slow, tedious and frustrating,

For once, words failed the eloquent and fire spitting helmsman...

Amidst sobs, he mumbled his condolences

el-Rufai

the verification ran into hitches and most civil servants have not received their June salaries up till date. Daily, the workers queued for hours on end, sweating and cursing under the sun.

The exercise, according to government, is aimed at fishing out ghost workers from the workforce. However, last Tuesday, bonafide workers were figuratively turned into ghosts when a female suicide bomber, according to reports, sneaked into the Sabon Gari verification centre.

Thereafter, she detonated her deadly device, taking her life and others’ in the process.

Significantly, another account differed from the suicide narrative. A parcel, according to reports, was hidden at the secretariat but some people noticed it and scampered in fear. However, others stayed put, believing that the scare was a hoax but a few minutes later, gun shots rent the air. Afterwards, a deafening explosion followed, clearing everyone and everything in sight.

Mostly, the victims were female teachers from Lere, Kubau and Sabon Gari local governments.

In addition, the attack coincided when new council chairman assumed office, so the secretariat was filled to the brim by party supporters.

Immediately, rescue workers that included the police, military

and personnel of Road Safety Corps, evacuated the dead and injured to the Ahmadu Bello University Teaching Hospital (ABUTH) and other hospitals.

As yet, the correct casualty figures could not be certified as different agencies and individuals reeled out conflicting figures.

Specifically, eye witnesses put the figure at over 100, the State Commissioner of Police said 21 people died in the blast while authorities of ABUTH gave a fatality figure of 25. In addition, the National Emergency Management Agency (NEMA) said 26 lives were lost and 33 people were injured in the blast.

Ironically, the explosion brought industrial harmony at ABUTH as the Resident Doctors suspended their strike action to attend to the injured victims.

Last month, the doctors had downed tools over incomplete salary payment, the sacking of their colleagues and sundry grievances. However, they ceased fire last Tuesday as the patients, from the blast scene, kept arriving with different wounds and lacerations.

According to Tuko Moses, the chairman ABUTH chapter of the union, all Resident Doctors were fully mobilised to attend to the patients. “However, as soon as we CONTINUED ON PAGE 42

14

Politics

WEDNESDAY, JUly 15, 2015 NEW TELEGRAPH

No big deal questioning Ekweremadu for forgery – Mohammed National Publicity Secretary of the All Progressives Congress (APC), Alhaji Lai Mohammed believes that the ruling party will soon overcome its crisis over the National Assembly leadership. He speaks on the delay in the composition of President Muhammadu Buhari’s cabinet, bailout for states and Peoples Democratic Party’s (PDP) grouse with the appointment of an acting chairman for the Independent National Electoral Commission (INEC). WALE ELEGBEDE reports How would you assess the Muhammadu Buhari administration?

In the area of security, he has lived up to expectation. If you know what he has achieved in the last few weeks on security, it’s phenomenal. Not only has he held meetings with the service chiefs, he has also held meetings with our neighbours – Niger and Chad. He has also held meetings with the Lake Chad Basin Commission which comprises of Nigeria, Benin, Cameroon, Chad and Niger all in an attempt to ensure that Boko Haram is curtailed. As a result of this, he has moved the headquarters of the military command to Maiduguri, the Borno State.

By the end of this month, they are going to launch a Multinational Joint Task Force and when that is done, it will cripple the Boko Haram insurgency.

You see, it would appear in recent weeks that the insurgency has actually been on the increase but what is actually happening is that because the insurgents have been dislodged from their forests and hideouts, they now operate as lone wolves; they now attack soft targets. It’s not as if Boko Haram is gaining ascendancy but it’s actually because they know they have been cornered and they have been dispersed. I am sure that given the kind of intelligence gathering that has been put in place now by the security agencies which helped to arrest the mastermind of the Zaria bombing; I am sure the days of the Boko Haram are limited. I think in the area of security, you cannot fault him in the efforts he has taken.

In the area of the economy, I

think he has really settled down.

When the government came in, a lot of monies was owed at the federal and state levels, and if this is not addressed, it could lead to industrial unrest and crisis which would have been very bad not for this government alone but for the whole country. When we came in, some 16 states owed between three and nine months in arrears. I think it will be wrong to say in a blanket form that the inability of these governors to pay their workers was due to incompetence. What happened is that while the average Federal Allocation distribution in 2014 was N720 billion, it went to about N388 billion by 2015. So, this informed the bailout given to the states. This is a single act that has touched the lives of more Nigerians than any other foreseeable action of government.

The president has also asked the Central Bank of Nigeria (CBN) to go and renegotiate on a long term basis, the debts the states owed commercial banks which were put at about N680 billion. To me, this is even as important as the bailout because it now affords each state to continue to pay their salaries as and when due and meet other obligations.

But the Peoples Democratic Party (PDP) had said the bailout fund was part of the savings from the last administration It’s not about where the money comes from or who saved the money; it’s about creating ingenuity of a government. The money had been there all along, why has it not been used for this purpose? If truly the first priority of any government is the well-

We have forgotten that under this democracy, a sitting Speaker was convicted and charged to court and convicted, Salisu Buhari

Mohammed

being of its people, I don’t see any better use for any money that is accruing to government than to make sure that all its citizens are paid their salaries and there is harmony and peace in the country. The fact is that this government realised that the money was there and it should be used for that purpose. We are sure that not one penny was taken from the Excess Crude Account (ECA).

The money taken was largely from the dividend accrued from the Nigerian Liquefied Natural Gas (NLNG).

Governor Ayodele Fayose of Ekiti State said the bailout from the Federal Government is nothing extraordinary as they (states) were only taking their shares of the allocation.

We know it’s not true. For example, what prevented their government that left office about two months ago, to bail out the states.

Some states like Benue and Kogi,

which were PDP states during the Jonathan administration, have owed salaries more than six months before they left; what prevented them from even using the money to help the states? Why did it never occured to them that they could approach the Central Bank and asked the CBN to arrange a soft loan, renegotiate and buy over the debts the states owed commercial banks?

So, clearly whoever says that he is not seeing the whole picture but only looking at the distribution of the money accrued NLNG account, shows shallow thinking by that person.

So, you feel governance is on course.

Perfectly. In the area of corruption and transparency, I was told authoritatively that this is the first time that the governors when they went for the National Economic Council (NEC) meeting saw all the revenue figures on

Politics

NEW TELEGRAPH WEDNESDAY, JUly 15, 2015

pening today to Ikedi Ohakim, Sule Lamido, Murtala Nyako and their children who are answering questions on their stewardship.

This means that no governor is free; he might be free only for the period he enjoys immunity. The court has ordered the forfeiture of former Governor Chimaroke Nnamani’s property to the Federal Government.

I think when we have in place a regime that is serious about fighting corruption, it will send signals to the governors that the time for corruption is over. I can imagine someone not being paid for six months; he will lose his self-esteem with his wife and children.

I think we should celebrate this particular act. With this new package, not just the bailout, there will be stability in the society. You saw what happened in Osun State, even as they were announcing the package some people were already going out to demonstrate.

I am sure that if not because of the announcement of that bailout package, it would have still been on now and it could have gotten violent. It is just a pity that Governor Rauf Aregbesola is just very unfortunate because he is one governor I can attest to his frugality and transparency. But a man that has been receiving N3.6 billion you now reduced it to N1.6 billion and he has a wage package of N2.6 billion, how does he survive? So, it is welcome to all states. Also, as far as President Buhari is concerned, he does not make distinction between APC and PDP states.

There was a time the president sought and got the approval of the National Assembly for 15 advisers.

Why is it difficult to announce his advisers?

I think that the purpose of getting the approval is like you have an approval in principle. These things come from the same pot, and what I know is that whether it’s a Special Adviser on National Assembly Matters or Special Adviser on Petroleum or anything, it is part of the key appointments the president would need to make and he has to be very painstaking about it. All he has gotten in principle is the number; he still needs to look out for the names.

paper for the first time – sources of income and what it was being spent on. And you can see that the truth is now coming out. Former Minister of Finance, Ngozi Okonjo-Iweala, first denied that she ever depleted the ECA, later she said it was done at FAAC, later she said it was former President Goodluck Jonathan that gave her the authority. But the truth of the matter is that we are now in an era of transparency and I was particularly happy when I read that the CBN governor said because of the frugal approach to the economy and blockage of leakages, the external reserves has gone up with about $2 billion within one month. These are signs of things to come. Those who are saying that this government is slow are only looking at the paraphernalia of governance not real governance. Of course, I know that in not too distant future key appointments will be made so also the ministerial list

will be submitted to the National Assembly.

The fear in some quarters is that the governors may still continue with their frivolous spending after the bailout and this will still bring us back to square one.

We must not forget too that the first thing the president said was that all states must revisit their fiscal arrangement in order to ensure sustainability and that this is not going to be the era where money meant for the people would be flittered away. I don’t believe all the governors who were unable to pay their workers was because of corruption. But more important to me is that why will you because a governor has been corrupt continue to punish the workers who honestly worked and should earn their pay. If a governor is corrupt, we all know that he can only be free for the period he is governor and enjoys immunity. Look at what is hap-

We are not going to play into the hands of these marauders

But what about the kitchen cabinet like the Chief of Staff, Secretary to the Government of the Federation (SGF) and others?

I don’t want to be pre-emptive, but sooner than you think those appointments would be made. Don’t forget that this is a rainbow coalition and you can see already what is happening that even when we thought we are one, some people are seeing themselves as New PDP, All Nigeria People’s Party (ANPP), Action Congress of Nigeria (ACN) and Congress for Progressives Congress (CPC), which was not supposed to be. Also, you have the issue of ethnic balancing and all others. We have all agreed that some of these appointments are normally made within the first six weeks; we are not doing too badly. We are not making excuses but we are just explaining the realities on ground. Like some critics said, all the appointments made have been “one-sided”. So, you actually want to balance too. This means if I have been

15

thinking of you as SSG, then I have to look at where you come from, your religion and others. I think it’s legitimate for us to be concerned but very soon the issue of key appointments will be a thing of the past.

How is the leadership of the APC resolving the National Assembly crisis?

On the issue of the crisis in my party, I think the less said the better. I will tell you that it’s unfortunate and we are looking at how to resolve it. On the issue of the alleged forgery against the Deputy Senate President Ike Ekweremadu; one, APC as a party did not write a petition to the police and I know the Presidency did not write a letter to the police.

And the police have said clearly that one of the senators wrote the petition.

I think we are trying to make a mountain out of a molehill. We have forgotten that under this democracy, a sitting Speaker was convicted and charged to court and convicted, Salisu Buhari. So, what is the big deal about police inviting any elected official who does not have immunity to come and clear his name? My party has no hand in it and the presidency too has no hand in it. Contrary to lies being peddled by the PDP, the police never invited Ekweremadu; they wrote the letter to the Clerk of the National Assembly.

Is this crisis allowing APC to prepare for elections in Kogi, Bayelsa and other states?

Like I said, the crisis is unfortunate and we could do without it. That is all I want to say.

The Dogara group accused the chairman of not carrying other organs of the party along…

Frankly speaking, I will not make any comment on this because I know so much about what is going on, but it will not be in the interest of the party to wash our dirty linens in the public because it could lead to the break-up of the party completely and we are not going to play into the hands of these marauders. So, it is better we manage it the way it is.

The PDP is fuming over the appointment of acting chairman for the Independent National Electoral Commission (INEC), Mrs. Amina Zakari, accusing President Buhari and the APC of sinister motive. What is your take on that?

Mrs. Zakari is not a new appointment. She never worked for Buhari, she worked for a consultant, AFRIPROJECT, with the Petroleum Trust Fund (PTF). That has nothing to do with Buhari.

What is secret about that? This is a lady that as soon as she finished her tenure under Mallam Nasir el-Rufai as Minister of the Federal Capital Territory (FCT) relocated to the United States until she was appointed as INEC National Commissioner by former President Goodluck Jonathan.

The PDP case would have been valid if it was a new appointment. PDP should go and look for a stronger argument. This thing will have been more valid if from the blues Buhari appointed Zakari. We met her in service.

Are we now going to remove everybody now in service because they are close to Buhari or APC? Honestly, they should be ignored.

16 Politics

WEDNESDAY, JUly 15, 2015 NEW TELEGRAPH

DANIEL IWORISOMARKSON writes on the gale of endorsements for the re-election bid of Governor Seriake Dickson in Bayelsa State

F

our more years! This is the rising crescendo as Bayelsans and friends of Bayelsa call on Hon. Henry Seriake Dickson to come out quickly to recontest for the position of Governor of Bayelsa State after a first term of uncommon leadership and unprecedented development that is changing the state for good.

Indeed, undergirding this cry is a felt need to separate the men from the boys, the many who are making a play for leadership of the state whose credentials are still a work in progress but who in the context of our democracy, are very much welcome to join the fray.

Endorsement of candidates is taking a virtual hold on the political pendulum as various parties signify where their interest lies.

With a clear understanding of the prevailing situation on both sides of the major political divide in the state, there is no longer any dull moment: all permutations and clever moves are geared towards the forthcoming governorship election which, as things stand today, will pitch the incumbent governor, Dickson, of the ruling Peoples Democratic Party (PDP) with any candidate who emerges from the crisis-ridden and allcomers opposition party, the All Progressives Congress (APC) in Bayelsa State.

Although Dickson has not formally declared to re-contest having hitherto told his associates and supporters to wait as he continues to consult, many are of the view that there is no longer doubt that the governor is now set to declare for his second term bid and going by a huge show of appreciation and solidarity which his supporters staged in Yenagoa, the state capital, last Tuesday, it is now a fait accompli. As a matter of fact, what was said to be a welcome reception for him after a short vacation turned out to be nothing short of a carnival, an indication of the shape of things to come.

A gale of endorsements which has effectively challenged the governor to action, shows the way for what is expected to be the flag-off of his re-election campaign.

As early as 8a.m. last Tuesday, the state capital, Yenagoa, was woken up to an unusual traffic and mass movement of people, particularly the youth. From the main major road leading to the state capital and the adjoining roads from the other ends of the city, the drift of activities pointed to the popular Peace Park, a short distance from the Government House. And judging from the mood of the people and the numerous youths in their bright attires and group affiliations, their mission and intent were all too evident. Politics was literally in the air.

Amidst loud music, dancing and intermittent political sloganeering, members of the different bodies and political interest groups drawn from the eight lo-

Governor Dickson addressing a rally at the Peace Park in Yenagoa.

Bayelsa: Dickson’s re-election gets boost cal government areas in the state swarmed the Peace Park arena in their multitudes, with each holding aloft banners and professing unflinching support for the yet undeclared second term bid of Governor Seriake Dickson. Some of the groups included Grassroots Restoration Force, Restoration Ambassadors of Bayelsa, Dickson 2016 Action Group and Bayelsa Grassroots Movement. It was a marked outpouring of both emotion and grit by the various groups which in total numbered about 50 and who struggled to outdo one another for their voices to be heard on why the Bayelsa State governor deserved a second term in office. Of course, the justifications came in so many ways much of which were quite dramatic and represented the true conviction of the marchers. It was proving to be quite a memorable day for all.

It was in this mood that Governor Dickson and his entourage sauntered into Peace Park amidst deafening ovation and jubilation among the people. The governor was moved to let down his usual studied guard and to be swept away by the mood of the occasion. He responded with exuberant gestures, saluting the crowd and intermittently raising his fingers in the victory sign. He joined in the singing and dancing round the arena until he made his way to his seat.

In his address, Dickson said he was overwhelmed by the obviously spontaneous show of love and support from the people of the state which he described as highly gratifying. He thanked Bayelsans for their understanding and for maintaining the peace in spite of the trying times. He also called for more support to enable the Restoration Government he heads to consolidate on the gains it had so far recorded.

The governor urged the people to spread the gospel of restoration to every nook and cranny of the state especially as electioneering

We can’t afford to return to the past, we already have a clear path to restoration which I ask you today to continue to support

for the forthcoming governorship election gathers momentum in the state. He assured the people that the state government would continue to partner with the Federal Government towards achieving greater peace, security and prosperity for the state and the country at large.

Acting chairman of the state chapter of the PDP, Chief Serena Dokubo-Spiff, also expressed gratitude to Bayelsans for turning out in their numbers to receive Dickson back home.

According to him, the huge crowd at the event was a further confirmation that the PDP is the party to beat in the coming election in the state. Dokubo-Spiff, however, cautioned the people to be careful about those he said were about to bring money into the state for distribution with the hope of influencing them, saying it was this kind of attitude which contributed in large measure to the underdevelopment of the state until the incumbent governor came into the saddle of leadership in the state.

Dokubo-Spiff recalled that the implication of money politics was the tendency to mortgage development for the selfish agenda of those he referred to as “special interests” which, he noted, led to corruption and abysmal performance in government by Dickson’s predecessors. He therefore called on the people to shun money politics but support those who are interested in the development of the state.

“Money politics is destructive and why we must all resist such attitude which can only serve a short term interest and the rot will continue. We can’t afford to return to the past, we already have a clear path to restoration which I ask you today to continue to support. You have all demonstrated your resolve in this regard today and I believe we can all make history together in due course. Bayelsa remains a stronghold of the PDP,” he stressed.

What came to light at the end

of the event was the implication of such rousing support for the incumbent governor. It spoke volumes about the governor’s popularity. But it also drove home how much the people appreciate the unprecedented efforts at development and why such a course may now be irreversible.

But beyond the carnival-like outing, the PDP must also be ready to do a serious battle in order to win the state in the election slated for later part of the year. The thinking by analysts of the emerging trend of politics in the state is that intra-party feud and desperation leading to power struggle could gravely undermine the PDP in the state imperilling all the gains of development of the last four years. Concerned party members may take some solace from the fact that such fractiousness is not limited to the PDP. The same factors are also rearing their heads in the opposition party, a development which has necessitated the intervention of President Muhammadu Buhari. But how far such intervention could go in dousing tension in the party remains to be seen. For now, the ruling PDP, judging by what transpired in Yenagoa last Tuesday, is on course for an encore with Dickson as the standard bearer.

While PDP chairman, DokuboSpiff, believes intra-party feud is dangerous for electoral success, he was quick to note that it was no longer a major issue in the party in the state. He conceded that it happened in the past but those who disagreed with the leadership of the party and the state government had since gone to the opposition party and that the PDP was now a settled party devoid of crisis.

This, he said, will help the party to sweep to victory in the state, adding though that the efforts of the reconciliation committee would continue to be critical.

•Iworiso-Markson is the media adviser to Governor of Bayelsa State

Politics 17

NEW TELEGRAPH WEDNESDAY, JUly 15, 2015

Saraki’s sermon on corruption CHUKWU DAVID writes on the efforts of the Senate to reposition Ministries, Departments and Agencies (MDAs) of government for proactive performance and curbing corrupt tendencies

T

here are signs that the Eighth Senate intends to do things different from the previous assemblies.

The Upper Chamber is showing early signals of commitment to change the wrong ways of running government business, which was rooted in nonchalant attitude to duty and impunity in handling public affairs.

Working with this new zeal, the Senate under the leadership of Senator Bukola Saraki as its President, has been trying to keep the Ministries, Departments and Agencies (MDAs) of government on their toes, to ensure that they are alive to their core functions, through which the dividends of democracy can be delivered to the people.

Since the Senate was inaugurated on June 9, the leadership has played host to many agencies of government, who were invited to hold interactive sessions with the lawmakers, to brief them on their activities, with a view to disclosing their strengths and challenges, and how to forge ahead to deliver service to Nigerians.

On Monday last week for instance, the President of the Senate invited the Independent Corrupt Practices and Other Offences Commission (ICPC) for an interactive session, where he intimated the agency with the direction the 8th Senate intends to go in order to help galvanise the present administration towards a meaningful and people-centred governance.

He succinctly made it clear to the delegation from the agency, led by its Chairman, Mr. Ekpo Nta, that the current Senate had resolved to have zero tolerance to corruption, which according to him, was responsible for the present economic crisis in the country, leading to non-payment of workers’ salaries in some states of the federation.

Saraki also told the ICPC delegation that the prevailing situation, where corruption became

Saraki

endemic and threatening the economic survival of the country, had made it imperative for the present government to take drastic measures in the fight against the menace, saying that the legislature would work assiduously towards ensuring zero tolerance for corrupt practices in the system.

Not willing to leave the agency in doubt as to what the 8th Senate would practically do to curb the problem of graft and all manner of corrupt tendencies amidst the looming financial crisis in the economy, the President of the Senate restated the commitment of the Upper Chamber towards working with President Muhammadu Buhari and ICPC to tackle the issue of corruption in the country.

His words: “Your visit is coming at this time as one of our early visitors to 8th Senate. As you know presently, we are supposed to be on recess but for us in the 8th Senate, there are certain areas of the sectors of the economy, particularly on the issue of corruption that cannot wait.

“And for us, it is important we meet with you to let you appreciate where we stand from and know some of the issues that are challenging to you. Because the ICPC, EFCC and Code of Conduct remain the most institutional tripod on this fight against corruption.

“I want to let you know that the 8th Senate has a zero-tolerance to corruption. We will want to make it a priority for us. We believe that it has got to a stage where it is truly endangering the entire system. And some of the symptoms that we are seeing in the areas of how it is affecting our national development is becoming more and more clearer to all of us.

Nta

For the 8th Senate, we are making anticorruption a priority... The 8th Senate is not going to provide any safe haven for anybody

“We see it in states now; they cannot pay salaries, we see it in the states of our schools and the impact on our education. We have seen it in the state of our health on the impact on the issue of maternity and child health.

We have seen it in the ever-increasing cost of governance, the failure of public institutions and infrastructure. We have taken it upon ourselves that one of the deliverables is to bring an end and begin to tame corruption.”

Saraki, in demonstration of his concern about the scandalous level of corruption in the polity, and his resolve to ensure that the Senate under his leadership proffered solution to the situation, promised to cooperate and work with the three agencies, primarily set up to fight corruption in the country.

He also said that, though it might be difficult to eliminate corruption completely from the life of the nation, deliberate collaborative efforts of the executive and the legislative arms of government could at least, reduce it drastically, where the impact would no longer be manifest and injurious to national development.

He said: “So, for the 8th Senate, we are making anti-corruption a priority. It’s a must and we are committed to that. And our goal is to work with you, EFCC and Code of Conduct to reduce significantly the level of corruption in the system.

We can only do that by knowing the challenges. It is not just the photo shots or appearing before the media and saying the right things alone; you know what the challenges are.

“Are there things that we need to do that will help prevention?

Because I’m sure a banker who is doing his due diligence sees a

balance of an Assistant Director that is in billions, I don’t think he needs anything to tell him that there is something funny going on here. We need to be very creative and bring everybody in. Are you independent enough? Are there areas we can support you?

“The message we want you to take away with you today is that the 8th Senate is ready to work with you. The 8th Senate is not going to provide any safe haven for anybody. The 8th Senate wants to work very closely with the president on this issue.

And I’m sure with the political will both on the legislative and executive parts, we can bring it to an end.

“We might not be able to eradicate it completely but we can bring it to a level that as a country we can be proud of. I’m very committed on this and so are a lot of our colleagues here. When a government gets to a stage that we cannot meet our obligations, then we know that we are getting into a crisis. And that crisis also requires drastic action.”

In his earlier briefing to the senators, the ICPC Chairman said that Nigeria had taken steps to address the issue of corruption holistically by following the guidelines of the international convention, which focuses on the key areas of enforcement, prevention and mass mobilisation against corruption.

He also noted that the fight against corruption was making progress in the country, and stressed the need for government to tackle the root causes of corruption if the current crusade against the menace must yield CONTINUED ON PAGE 40

MORE STORIES ON pageS 40-43

18

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Opinion

Much ado about Ekweremadu

Silas Ubale

A

lthough Nigeria’s survival of the 2015 general elections ordinarily calls for a sigh of relief, it seems inadvisable for Nigerians to roll out the drums yet. Nothing in the bad start by the ruling All Progressives Congress (APC), especially the show of shame by its members over the National Assembly (NASS) leadership positions or their unhidden desperation to unseat the Deputy Senate President, Ike Ekweremadu, show that all is finally well or that we have learnt anything.

Not only that APC power cabals are bent on making the NASS ungovernable because they could not impose their stooges, what started like APC’s passing reaction to their loss of the Deputy Senate President seat has also degenerated to a level where the PDP had to cry out over threats to the freedom, dignity, and life of its highest political office holder. Those who think the PDP is merely crying wolf should read this comment by an APC chieftain, Senator Chris Ngige about Ekweremadu. He said: “There are many ways to kill a rat. You can decide to go and kill it manually; you can go and put it in hot water, and you can use poison – Gamalin”.

It is sad that those pushing this agenda do not care about the peculiar situations we have on our hands.

One, the last general elections produced 49 PDP Senators and 60 All Progressives Congress (APC) Senators.

An APC Senator-elect passed on immediately after the 2015 elections, reducing the APC number to 59 at present. But APC leaders have failed to appreciate the fact that the party enjoys just a slim majority unlike what PDP had in the past. Out of these 49 PDP Senators, the South East and South South produced a whooping 32 Senators.

If I were President Muhammadu Buhari and APC, I would have ceded the Deputy Senate Presidency to a PDP Senator of South East or South South extraction on my own or produce a Deputy Speaker from the zones since there are APC House Members from both zones. Either way, Buhari and APC would gain more

political goodwill of the zones and/or the cooperation of the PDP. It would have been another “No victor, no vanquished” in line with Buhari’s declaration that he belongs to everybody.

Some power mongers might deem it crazy, but that would have been politically pragmatic especially given APC’s very slim majority in the Senate. More importantly, unusual times call for unusual decisions. In USA, during President Abraham Lincoln’s second term in 1864, he sacrificed fellow Republican and first term Vice President, Hannibal Hamlin and chose Andrew Johnson who was a Democrat from the South as his running mate. Though a diehard Republican, but he knew that in such unusual times of war, national unity was most paramount. To him, successful defence of the American Union was far more important than partisan politics.

But what did we have here? APC cabals insisted that Senator Ahmed Lawan of the North East must be made the Senate President, Senator George Akume of North Central the Deputy Senate President, Hon. Femi Gbajabiamila of South West the Speaker, and Hon. Mohammed Monguno of North East (same zone as Lawan) the Deputy. In the sharing of the principal officers of the House of Representatives also, the two APC Members from the South East were not even considered for Deputy Whip position. So, Ekweremadu’s re-election as Deputy Senate President actually solved a major problem for the APC by default.

Unfortunately rather than consider it so or consider the experience he is bringing to bear on Senate leadership, a divisive campaign and political tyranny against Ekweremadu is being championed by a splinter of APC Senators (Senate Unity Forum) and a faction of the APC leadership. What a contradiction in name. They claim that a Deputy Senate President wields enormous powers and Ekweremadu, being of the PDP extraction would therefore make Buhari’s change agenda difficult. They claim that for 16 years, the PDP never shared the position of presiding officer with the opposition.

This is preposterous because by implication, the Forum is saying that what we have is not a National Assembly of Nigeria, but of APC. For crying out loud, National

Assembly is an independent arm of government based on the principle of separation of powers. It is neither an APC conclave nor a department of the presidency.

They are also indirectly telling Nigerians that Buhari’s APC administration could not have taken off in the first place had the PDP won majority seats in the NASS, while the APC is in charge of the Presidency as often obtainable in advanced democracies. In the USA, Hon. Joe Boehner of the Republican Party has been the Speaker of the Parliament since 2011 under a Barack Obama Democratic Party administration.

Besides, mutual cooperation between the executive and the legislature depends on the personalities involved in the leadership of both arms of government, not necessarily on whether they are of the same political family. For the 16 years the PDP held sway, it was always a cat and mouse relationship between the President and the National Assembly or its leadership. Obasanjo’s eight-year reign produced five Senate Presidents and three Speakers due to this. From 2013 till he left office, President Goodluck Jonathan could not personally present national budget for fear of embarrassment from Speaker Aminu Tambuwal and his men. Yet, Tambuwal and Jonathan were of PDP. Conversely, Ekweremadu has amply shown that he is more interested in delivering good governance to Nigerians, than in distractive and vicious opposition. Only a few days ago, he told visiting CSOs: “Today, we have a president who is dedicated to eradicating corruption, to fighting poverty and eradicating terrorism and we in the National Assembly are prepared to support him in this respect. We have finished with politics, what is remaining now is governance and this country belongs to all of us. The constituents are not interested whether you are APC or PDP. What they want is good governance and we must unite as a people to give Nigeria good governance”.

After the PDP lost the election in March, he said to his people: “The South East PDP and indeed Ndigbo … will work hand-in-hand with him (Buhari) in line with our regional agenda and overall development.

• Ubale wrote in from Kaduna.

Our rivers are dying Okwudili Uzoka

T

he fact that most of Nigeria’s river systems are rapidly declining in volume is obvious even to the most casual observer. This has been attributed to a number of factors, principal amongst which are population explosion and the concomitant increased demand for drinking, washing, sanitation as well as irrigation for agricultural purposes, in addition to the infamous “global warming”. This volume decline is underscored by the fact that large expanses of islands have almost daily been cropping up along the entire course of the nation’s foremost rivers; the Niger and Benue, so much so that these sand fills are used as pedestrian crossing from one bank of the river to another, especially during the dry season. There is no doubt that the same problem is replicated all over Nigeria’s water courses possibly on a worse scale, considering the size of the Niger and Benue.

As if the drying up of the great rivers and all other water courses is not enough sad news, our drive to prosperity has compounded the problem. For the records, mankind has from time immemorial used various water courses for the disposal of all manner of refuse. Nigeria is not an exception as the various water courses have been converted into universal dust bins as well as universal vehicle for sewage and industrial effluents. This

is often done without regard to the life forms inhabiting the water course, or the potential or actual danger to users of the water courses downstream.

While the indiscriminate and irresponsible disposal of refuse in rivers, streams etc might well be attributable to ignorance in times past, the same cannot, however, be said in this day and age, what with scientific studies clearly showing the adverse environmental effects of such acts and the innovation of more environmentally-friendly methods of disposing wastes both in water courses and elsewhere. This practice has become so pervasive, so much that hundreds of thousands of floating empty sachets of pure (or is it poor) water and polyurethane packages have become a permanent feature on our river systems countrywide, add to innumerable paper packages, bottles and all manner of garbage. These discarded packages are fast colonizing and choking the entire stretch of the Rivers Niger and Benue as well as their various tributaries, thus constituting a major obstacle to navigation of the water, and obviously suffocating various aquatic life forms in several ways. Furthermore, with the setting up of various industries that use several toxic chemicals across our major cities, and the extremely corrupt nature of our government agencies, it has become common practice to recklessly discharge toxic chemical effluents and workshop waste directly into the rivers without regard

to their effect on the ecosystem. The effects of this indiscriminate dumping of refuse and toxic materials into the rivers have, on several occasions, resulted in hundreds of poisoned dead fish floating in areas bordering our river systems. And local people usually collect these fish to eat, and of course, sell to other consumers!

Meanwhile, mounds of every imaginable waste from factories, homes, schools, streets, garages, markets, etc. continue to build up along the various river banks during the dry season, waiting for the first rains to tip all of it into the near-dead rivers. The pollution of our rivers has adversely affected domestic consumption in a nation where close to 75 per cent of the population cannot access pipe borne or potable water. Those who cannot afford the now-famous pure water are left with no other alternative than to consume the fouled or poisoned water. Strange and rather inexplicable diseases/health conditions recently reported in several coastal towns may therefore not be unconnected with the indiscriminate and irresponsible disposal of these wastes and the conversion of our nation’s river systems into one huge waste disposal dump.

As if these problems are not enough, the seemingly intractable menace of the killer-weed (the water hyacinth) and various other colonizing aquatic weeds has further worsened the situation by obstructing navigation and suffocating the oxygen and light sources of various aquatic life forms. Fish stocks have gone

so low that fishermen toil for days with little or no catch. The declining volume of the Nation’s rivers has been implicated in the ever worsening situation of electric power generation, since the major power generating stations of Kainji and Shiroro are hydro powered. The situation has deteriorated over the last decade especially in the dry season and the operatives of the power company have routinely blamed it on the decline in the volume of the Niger; a period when most Nigerian homes are lucky if they have up to one hour of electricity supply in 24 hours.

In a country where environmental laws are in place, with every State of the Federation having a ‘State Environmental Protection Agency’ (SEPA) one wonders why the apparently criminal suffocation of the nation’s water courses has been allowed to go unchecked. The reason might, of course, not be unconnected with the legendry dereliction of duty, for which the average Nigerian civil servant is well known. The National Inland Waterways Authority (NIWA) is particularly culpable for this criminal neglect of our rivers that has resulted in this sad pass. The solution to this rot is simple and entails the declaration of a nation-wide state of emergency towards the protection and rehabilitation of our rivers as well as the strict enforcement of existing environmental laws.

• Uzoka (okwudiliuzoka@gmail.com), a two-time member of the House of Representatives, writes from Ogbaru, Anambra State.

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

19

EDITORIAL

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Nigeria’s most authoritative newspaper in politics and business

New spate of bank robberies

or three consecutive times, armed robbers launched vicious attacks on banks in Lagos State.

On March 12, dare devil robbers, numbering about 13, invaded the First City Monument Bank (FCMB) on Admiralty Way in Lekki and killed policemen as well as a young girl selling fish in the area.

The robbers stormed the bank in military uniform. They operated for over 30 minutes and were shooting sporadically without any challenge from the police.

The criminals, armed with AK47 rifles reportedly killed the policemen who were escorting an oil service company staff bus.

The surviving policemen fled.

At the end of the day, the robbers went away with N15 million.

On June 1, Ikorodu area of the state played host to the daredevil armed robbers, who raided a branch of Wema Bank and that of First Bank at Omitoro in Ijede.

Again, the robbers shot nonstop for about 30 minutes.

It was reported that after a successful operation, they were dancing, unmolested, to music blaring from their vehicles.

On June 24, the men of the underworld returned to Ikorodu.

This time, they raided four banks in Ogolonto area of the ancient town.

As usual, the fully armed men

blew their way into the banking halls with explosives.

They reportedly bombarded a police station in front of one of the banks in order to have a field day. They actually did.

In all the three robberies, there were striking features which represented a signature.

One, the pattern was the same.

Also, the mode of operation was the same.

In each of the robberies, the robbers burnt stolen vehicles and escaped on water via speedboats.

It is saddening that the police failed in all the three incidents to swiftly respond while the robberies were going on. Their response was always slow and ineffective.

Of particular concern is that on the day of the Ogolonto robbery, Marine Police were nowhere to be found.

According to reports, the Officer in Charge (OC) of the Marine Police could not be reached to activate his men to either block the waterways or chase the robbers while escaping.

Although it was reported that the OC was later arrested and detained on the orders of then Commissioner of Police, Kayode Aderanti, the deed had already been done.

It was reported that none of the five speedboats belonging to the Marine Police is in good operating condition. Would it not be necessary then for the government to beam its searchlight in

such area?

Also, it is worthy to ask the whereabouts of the helicopters in the air wing of the police.

If this also very important wing of the police were working, it would have been almost impossible for the bandits to escape.

Aside all this, modern policing has gone beyond employing traditional ways to combat crimes and criminals. Traditional way of policing is too reactionary.

Most of today’s criminals are educated and hold sophisticated weapons. Modern policing, therefore, requires taking proactive measures. This is how to nip crime in the bud. It requires exterminating crime while it is still being conceived. That is the way it is done in a civilised clime. Police must think ahead of robbers and wait for them at the point of robberies.

It is unpardonable for the police, in the Centre of Excellence, the commercial hub of the biggest market on the African Continent, to have been caught napping thrice in three months.

It will not be surprising if the robbers strike again. This is because those arrested so far by the police, from their confessions, were auxiliary members of the gang. They were not the brains behind the heists. Many of those arrested claimed to be fishermen and boat operators, employed by the masterminds of the robberies obviously for their skills in navigating on the water and their knowledge of the wa-

terways.

One of the suspects in police net also claimed that the real robbers held their discussions in a language native to the South-South region of the country.

Police should not also lose sight of the fact that the masterminds could be militants looking for money to beef up their activities.

The government should also look at ways to adequately fund and appropriately equip the police.

There are officers and men of the police who can hold their own, given encouragement and conducive atmosphere to operate.

This informed the Lagos State Security Trust Fund (LSSTF) conceived and established in 2007 by former Governor Babatunde Fashola.

It was a response to the operational deficiency of the police and other security agencies operating in Lagos State to help in areas of funding and provision of modern equipment. It helped in checking the wave of robberies in the state.

But the fund must also look at the area of the welfare of the policemen and members of other security agencies.

This is also necessary to boost the morale of officers and men of the police who daily put their lives on the line in defending the lives and property of other Nigerians.

DAILY TELEGRAPH PUBLISHING COMPANY LIMITED Managing Director/Editor-in-Chief

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WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

20

Arts

Book Review

Early signs of Sickle Cell Disorder in print

A

s this book on early warning signals on Sickle Cell Anaemia seeks to bridge an existing but wide knowledge gap in homes, families, medical and social circles, it is important to point out the danger and devastation of marriages with incompatible genotype combinations and underscore the need for people to understand that neither money nor science can yet cure the disorder and its complications. This is what the book is out to emphasise, while also warning against every mistake that could lead to such clinical conditions.

The writer, Pastor Emmanuel Dickson Ibekwe, burning with zeal and concern for the populace, made vulnerable by ignorance and self-will sometimes, decided to follow up on an earlier book on this sensitive, but often ignored, subject matter, titled “Cruel Wounds of Sickle Cell Anaemia: a Family Experience”. He told his own story, shared his family experience and counselled various categories of people therein.

This priceless service appears yet to be appreciated by many homes as the message, from all indications, needs to spread further afield, to prevent more families from falling into this pathetic and sometimes lifelong ordeal of clinical conditions caused by sickle cell disorder for which no medical relief has been found.

Ibekwe adopted a different approach in writing the new book on early warning signals.

A picture is worth a thousand words. If the first book on “Cruel Wounds” seems – to a reader – too voluminous and laden with prose, the new book on “Early Warning Signals” is less in volume and richer in pictorial and graphical illustrations, easy enough to grasp, with greater capacity of receptivity and retention. With all the coloured pictorial representations, the troubling signs of sickle cell disorder are vividly and succinctly captured for ease of understanding.

The author warns that, to those who have not come to terms with this condition and its potential to do damage, it is best to heed the voice of

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

Book title: Sickle Cell Disorder: Early Warning Signals

Author: Pastor Emmanuel Dickson Ibekwe Year: 2012

Reviewer: Dr. Olukayode Oyeleye

endless, making prevention the most assured way out. For this reason, so much emphasis has been placed on pre-marital decisions, after which the consequences could only be managed. It is important, according to Pastor Ibekwe, to take advantage of the opportunity afforded by the disclosures in this book.

Much attention is to be paid to avoiding decisions superficially made and marital plans that ignore scientific underpinning of a matrimonial union. In this new book, he warns again that they should look out very well: or, in a current Nigerian parlance, to “shine their eyes well, well.”

To them, he writes: “Let good conscience guide you in that engagement or courtship, otherwise you will be the worse for it. Do not allow any person, by flattery or falsehood, bring destruction on your lovely and innocent children. Your AS plus AS partner may betray you.” Going by personal experience, he asked: “Could anything be more depressing?”

You clearly have no reason to fall into this lifetime trap.

For those who, unfortunately, have got into this lifetime trap, Pastor Ibekwe expresses concern that, “We must expose their anxieties and difficulties and alienation very clearly so that the world can find a way forward into a research for a possible cure. The victims, especially children, are paying painful debts they did not owe.

We should stop reinforcing the sense of hopelessness amongst the youths living with this disorder, this time. If you know

the implication on the mortality rate on youths with sickle cell disorder you will marvel.”

Economics of management of sickle cell anaemia makes it prohibitive for the poor. The stem cell transplantation carried out by a team of medical doctors in Nigeria recently that converted a seven years old patient from SS to AA is a very welcome development because Nigeria has the largest endemic population of sickle cell disorder. Many Nigerians have the trait while over 150,000 children are born each year with the disorder (WHO 2006). So the breakthrough that helped one out of a million is highly appreciated by all well-meaning advocates of the eradication, prevention and management of sickle cell disorder. Unfortunately the enormous potential cost in Nigeria (N2.5 to N5million) is no doubt capital-intensive. Therefore over a quarter of a million Nigerians with this disorder need assistance. Apart from stem cell transplantation, a few other preventive steps that can reduce mortality rate can be taken.

The book on Early Warning does not pretend to say everything to be known about sickle cell disorder, but proffers some ideas drawn from experience for families to properly manage the sickness. It also encourages sicklers, telling them to exercise faith in God. It goes further to highlight that it requires collective effort to provide the resources needed for the optimal maintenance of health in persons with sickle cell anaemia and to bring joy and peace into such homes.

reason and run away from getting in, much less thinking of managing the consequences.

An ounce of prevention is

worth a pound of cure. Unfortunately, in the sickle cell disorder, the road to cure still remains long, tortuous and

CO NT INU E D F RO M l ast wee k

From Academicals to club football

W

e (the team) were drawn from different colleges (secondary schools) and it included: Obi Nwobi (DMGS Onitsha) and Umelo Ahamaefule (St Augustin Nkwerre), Godwin Ogbueze(Captain, St Theresa Nsukka), Kenneth Ilodigwe (St Theresa Nsukka), Christian Chukwu of National Grammar School, Nike (with whom I would play as teammate in the ECS Spartans, the Green Eagles and much later Enugu Rangers FC), Obed Ariri and myself (Holy Ghost College), Damian Odo (St Theresa), Chukwuma Nwankwo(St Theresa), Moses Nweke (St Theresa), Dominic Ezeani (CKC), Innocent Nwokeji (whose sobriquet was ‘Trigger’, CKC), Paul Agu, a.k.a Babadoodoo (St Theresa).

Dan Anyiam was the Chief Coach of the ECS Sports Council. He supervised our preparation. Coach Paulinus Nzerem was his assistant. We would

go to Lagos and win that year’s version of the competition then known as Israel Adebajo Cup. Nzerem took the team to Lagos.

The Lagos and Mid-West States Academicals were favourites for the trophy. We, from the East and still reeling with the hangover of defeat from the thirty-month fratricidal civil war were distant outsiders. Lagos State boasted of such great schoolboy talents: the suave, brilliant, skilful and tough central defender, Tunde Martins; the stylish and skilful attackers such as Emilio John and Tony Eyo; and the brilliant goalkeeper Marcellus Obinatu, amongst others.

The Mid-West also paraded their sharp-shooter and lead attacker, Okufuleze. Adimkwe operated from the left and no less endowed, complemented their attack, but he had the ‘misfortune’ of being my direct charge

in my right full back position.

We set the tone when we dispatched Plateau back home and humbled Lagos 3-0. We attracted attention. Our team did not have more than the one pair of outfit for the whole competition; our curators had to hand-wash and iron our jerseys after each match.

We dismissed the flamboyant Mid-West in an epic semi-final even though they lent colour to the arena in their smart outfit. ECS stepped proudly into the King George V (KGV) Stadium Onikan Lagos in our overstretched yellow-onblack— shorts jerseys, proud in our “coat of many colours” as the Dolly Parton song goes.

In their factory-delivered red-shirt-on-white-shorts, Okufuleze led the Mid-West majestically into the KGV ‘amphitheatre’, with each player

holding up one brand new Adidas ball for effect. The stadium resonated with applause.

They formed a circle in the centre of the pitch, and kicked the balls into the stands. It was thrilling and spectacular. It was an exciting match which lived up to its billing. Kenneth Ilodigwe concluded our epic campaign when he volleyed-in, in grand style and skill, a right wing cross from Moses Nweke straight into the left hand angle of the goalkeeper’s upright and crossbar, a photo finish of a goal.

Back home we were given a motorcade welcome into Enugu and two days after, a State banquet at which Ukpabi Asika, then Administrator, awarded all twenty-four of us in the team a state scholarship up to tertiary level.

CONTINUES NEXT WEEK

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

21

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

Women applying fertilizer to a cassava farm in Lagos

Boost for Lagos products, agriculture Recently, the Central Bank of Nigeria, CBN, disclosed its intention to apply a policy of forex denial to selected import products.

Under the policy, 40 items which can be categorised under agriculture and industrial materials were listed as banned. The implications of this decision on Lagos is huge. ELIJAH SAMUEL and EZURIKE UGOCHUKWU report

T

LIFE IN THE CITY Dressing for the world

27

MY CITY MY WORLD You can pick gold on the street of Lagos

27

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

he seeming ascendancy of imported goods over the locally produced ones is unsettling. It is even more so in the midst of the subsisting economic woes in the country. That is aside the point that importation of goods from overseas into the country has continuously opened business opportunities for many Although preference for imported furniture products and materials are being propelled by consumers’ sense of taste, many believe that the need for patronage of overseas furniture and materials should not have arrived in the first place if the government had created a friendly atmosphere and enhanced accessibility to capital.

Timehin Oduntan, a furniture artisan, said that the influx of imported furniture products into the country, whether made with steel or wood, has really affected the country in the furniture business. “Many people can no longer make ends meet in the business. The reason for this is that many people who need furniture either at their homes or offices find these ready products fanciful and easy to acquire. It is not as if we (local producers)

We don’t have business importing toothpick as a nation

cannot produce these furniture at exquisite taste like the ones brought in but lack of access to capital and machineries are the problems that inhibit our finesse and expertise,” Oduntan said.

Comparing the difference between locally and internationally produced goods, Oduntan explained that what is produced in Nigeria often times last longer than the imported ones. “We have the skill and the expertise but the government has to help local artisans to come with their best performance by ensuring that factors that will enhance a friendly business environment are put in place. This can be achieved through provision of stable power, and creating equal access to funds that can help in business development and expansion,” he said.

Alhaji Saheed Mohammed, a merchant in furniture materials canvassed caution on the part of the government while before placing total ban on the selected imported goods. The reason for this position is the apprehension the consequences that the implementation of ban goods may create on the economy of the state.

According to Mohammed,

even if most of these materials are banned right now, it will be difficult for the furniture-makers to get the materials to use for production, “and it will be difficult for us who are dealers to find what to sell.” He advised that the government can invest heavily in agriculture under which most of the banned items fall. Thus, the farmers can be empowered so that the local production of these items can be facilitated. “For instance, we don’t have business importing toothpick as a nation.

Investors should be encouraged with good incentives. The government should give diligent consideration to all the possible effects of the ban proposal before final decision is taken. If the ban is eventually implemented without adequate alternative plans, there will be rise in joblessness which may also instigate robbery and other social vices among those will be affected.”

As it is often posited, the technological expertise needed to contribute to the economic development drive is inherent in most of the artisans, most of who are active players on the CONTINUED ON PAGE 22

22

Life | Mega City

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

CONTINUED FROM PAGE 21

state economic landscape. Azeez Raji, a production supervisor in an Ikeja-based steel production company, holds the notion that nothing is beyond practicability if the right economic policy and environment is given.

He said: “The government should help us by making available all the major logistics that will enhance local output. There is nothing that is brought from overseas that cannot be produced here. If you observe, all the steel doors that we have on display, they look like the imported ones. The difference is almost inconspicuous,” he said.

However, the gains of ban on the selected items as announced by the CBN are already being anticipated by stakeholders. According to Raji, if ban is placed on importation of steel products, it is going to be favourable to locally produced goods, and overtime, enhance their finesse and expansion. He believes they can achieve the standard, but government should do all the necessary assistance and make stable power supply a reality as soon as possible. This, he emphasised, will halt the exodus of companies out of the country and stimulate influx of foreign investment.

Alhaji Shino Aremu, also a furniture dealer, said, “Foreign goods that are inferior in most cases have killed our economy. We have our furniture maker even with crude implements producing all the beautiful doors they make. Imagine what they would produce if they had access to modern machines. We have enough timber in the Western states here and reasonably forested. To me, I will support for a total ban on the importation of the goods the CBN has barred from forex window.

Unarguably, agriculture is pivotal to the much anticipated economic growth, and escape from our present mono- economy. Lagos as at 2012 was estimated at 18million people, with a projected estimate of 25million population in 2015 by United Nations, a projection that could place the state as the 3rd largest mega-city in the world after Tokyo and Bombay.

The past administration in Lagos presumed to have made tremendous efforts in raising the agricultural level in the state to make the state food sufficient by acquiring 200 hectares of land at Itoga, Badagry being cultivated for rice. The site was claimed to be the biggest in Nigeria. It will be recalled that the former Agriculture Commissioner in the state, Gbolahan Lawal, had said that with the Rice farm at Itoga and the Milling plant at Imota in Ikorodu in place, the state is set to embark on massive local production of rice so as to solve the problem of hunger and poverty.

If bitter kola were to be as juicy and sweet as it sounds, Lagos State should be in a position to cushion the effect of the resent forex withdrawal to importers of the 40 listed products which include rice and other agricultural goods in Nigeria as pronounced by the Central Bank of Nigeria (CBN). According to Gbeminga Taiwo, a former Agriculture Commissioner, the state has be reeling out account of its positive and unprecedented efforts in the area of rice production and other agricultural products. The former Commissioner explained that the sufficiency level the country attained in 2008 nosedived when rice importation into the country

Basket of tomatoes on display at Mile 12 market

Coconut plantation

CBN policy lifts Lagos products, agriculture

was declared duty free, including custom duty, value added tax and levies, a situation that caused a swell in rice importation.

John Olubunmi, a rice dealer, said they have started experiencing some increase in the cost of rice at the moment, a situation he attributed to the rise in foreign exchange.

He said that our governments are good in paper analysis and presentations. That with all the claims and projections of the former administration in Lagos, on rice production, trailers and lorries have never been seen to be carrying rice from Lagos State mill or from other states in the country to a rice dealer. “May be in the near future, I don’t see Lagos producing the quantity and quality of rice that can feed her citizens; all the rice we sell presently are from Thailand, India, Brazil and etc. Unless the state has truly acquired land in other states as was reported, I feel the state has lost greater percentage of her land to residential and industrial development.”

He said.

Olubunmi called on the government to make a law that will compel Lagos residents to accommodate gardens in their various residential compounds. By so doing, they will imbibe farming culture. He added, “People that have space in their surroundings could plant rice, vegetables or other edibles around their homes.

Moreover, every compound depends on individual bore holes for water rather the failed pipe borne water system. That could provide the needed water for the gardens.”

Some other Lagosians like Collins Aghiriebowe recalled the statement of the former agriculture minister, Dr Akinwumi Adesina, when he said

A man filing an iron

Nigerian rice farmers are capable of producing rice that can feed the nation

that the money Nigeria spends in importing rice helps to put farmers in such countries as India, USA, Thailand and etc. to work while putting farmers are out of work in Nigeria.

“Nigerian rice farmers are capable of producing rice that can feed the nation only they lack incentives. Our processing is manually done, as such, yield low quality output. If the local farmers could have access to modern machines that could parboil, dry, de-stone and package rice, our local rice will obviously have patronage.”

Report has it that major agricultural nations of the world achieve their growth through irrigation. Countries like Indonesia have achieved 12.38 per cent, Thailand 28.19 per cent, while Nigeria has achieved only 1 per cent. Also attributed to low yield to our agriculture is seeds and breeding stock quality which is equal to non towards increased internal production.

Mrs. Queen Ashiwara, a vegetable oil seller in Lagos State, said, Nigeria can be self-suffi-

cient in the area of oil. “We have enough palm oil in this country that could be refined to serve our local needs, only that our neighbouring countries make theirs cheaper. As such, we patronize them than our local products.

Another factor why we have too much imported vegetable oil is because many people raise their shoulders in condemnation of Nigerian oil. Even margarines and geishas, we can be sufficient in them here,” she said.

With the encouragements and supports from such agencies as world bank agric assisted agencies- FADAMA 1,11 &111, federal and state agencies as, Rural Financial Institution Building Project (RUFIN), Growth Enhancement Support Scheme (GESS) Agricultural Transformation Agenda (ATA), Agriculture Youth Empowerment Scheme (AGRICYES) etc, it is still estimated that Nigeria spends well over $3 billion annually on importation of staple food like rice, wheat, fish and sugar. While at the same time, the country is the 2nd largest importer of rice in the world.

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

Refusing to turn a new leaf Elijah Samuel

“A

few months ago, I was apprehended by some policemen who had mounted a checkpoint between the Onitire’s Palace and the Police Station at Itire on my way to work. They demanded to see the vehicle’s papers. Incidentally, the papers had just expired and were in the process of being renewed. They were two: one in mufti and the other, a corporal in uniform told me that I have committed a serious traffic offence. All appeal that the papers just expired and will be ready in a few days fell on deaf ears. They said if I needed their assistance, I should give them N15,000. After so much haggling, they took N3,000,” Paul, a businessman recalled an encounter with the police at a checkpoint while he was on his way to work. He was only left off the hook after parting with some cash. This experience which left him agitated, has equally made not a few residents wondering what roadblock and checkpoint are designed to achieve in the first place.

It is such acts, as shown above, which has brought so much disrepute to the Nigeria Police, that prompted a pronouncement from the Inspector of General Police Solomon Arase. While bemoaning the level of rot and deviation from constitutional duty of policing, the IG unequivocally described his displeasure. “I wish to, in clear terms, re-emphasize that police road blocks remain banned. They are public nuisance, points of corruption, and source of policecitizens’ frictions.

“The loss of public respect and confidence in the police as well as our inability to effectively tackle crimes in the most ethical and professional manner have been widely attributed to the challenge of corruption within the policing system.”

In most places where roadblocks and checkpoints were operated, culprits found running afoul of driving requirements could hardly go free without having to part with some money. But since the IG’s open upbraid, there has been a noticeable change in the mode of operations. In a few of the

roadblocks/checkpoints spots that have been kept under New Telegraph’s watch since the IG’s pronouncement, it has been discovered that policemen have devised and introduced new antics in their operation of roadblocks/ checkpoints. Unlike previously when they operated without restraints, new twists are being employed. What is obtainable now is a situation where the policemen show up to carry out operations at their usual roadblock/checkpoint spot, operate for a short period and retreat.

An elderly resident, Adejumo Martins, who resides in Ikorodu and had witnessed several disgusting scenarios being perpetrated on Ikorodu road, recalled the characteristic police extortions between Ile-Epo and Thomas Bus-Stops, Ajegunle Area of Ikorodu Road.

He said, “Everybody who had commuted regularly on Ikorodu Road and taken diligent observation of events, especially the activities of the men of Ajegunle Police Station on the Ajegunle section of Ikorodu Road, will bear witness to the extortion that was going on there until a few weeks ago when the new IG gave an order to dismantle roadblocks mounted by policemen across the country. Under the guise of checking for vehicular papers, they extort the drivers, especially those ones without complete documentation. Apart from the private ones, their regular targets are the commercial transport operators. In the full public glare, they collect money from bus drivers, and commercial motorcycle riders and others who operate on that route. Most times, when they were doing this illegality, they hindered free traffic flow and contributed to already worsened traffic situation on that road.”

Martins added: “But one thing that is easily noticeable a few weeks since the new IG outlawed roadblock is the disappearance of their usual presence on those spots of illegal operations during the daytime. But this doesn’t mean that they have gone off totally from perpetrating their shameful extortions. They now mostly operate in the night, collecting tolls from commercial bus and bike operators. With

23

Policemen at a checkpoint hailing motorists

All of us cannot be saints. We have put in place mechanism to stop extortion

this, one doubts if anyone can ever stop the police from their acts of bribery and corruption.”

When accosted to relay his working experience viz-a-viz encounter with the police, another resident, Donald Chiedu, a commercial bus driver, who operates on Apapa-Oshodi Expressway briefly affirmed to New Telegraph that there has been a more discreet manner in the extortion strategy of the police. “Truly, we have always had and taken the kind of extortion that we experience from policemen on the road as part of this driving job. What can we do?

We are helpless; and that’s why you find most of us giving them money just to avoid their trouble.”

He added that “their presence at the usual checkpoints has reduced recently, but sometimes you find them coming to those places and stay briefly to do their operations.”

Responding to the inquiry whether money is still being collected, Chiedu disclosed that “the way they operate in most places is such that collection of money is done by proxy because they often operate in collaboration with the agberos (miscreants). That’s why it will be difficult to eradicate agbero in Lagos because of the synergy they have with law enforcement agents in the state. For instance, at Under Bridge BusStop where I picked you (Under Bridge Bus-Stop is on Muritala Mohammed Airport Road, Oshodi), you’ll see that policemen and the agberos use to operate side by side. The agberos collect tolls from commercial bus operators while the policemen, who are usually between 10 and 12 in number, stop private vehicles.

I tell you surely that it is a collaboration, and they know how they settle themselves.

“But we have noticed that unlike before when the police used to stay throughout the day, they only come briefly and move. It may be they are doing this in order not to be apprehended and seen as defying the IG’s order. We hope that this will last, but the Agbero issue in Lagos also must be looked into by the state government. ” However, the Lagos Police Public Relations Officer (PPRO), DSP Ken Nwosu, in response to the issues of policemen mount-

ing roadblock and checkpoints, said: “It is in the best interest of the people that there is the presence and the visibility of the police in the neighbourhoods. It has to be gotten right: the IG has not said that the presence of the police should not be seen at all in the neighbourhoods. The order is against a situation whereby you find policemen using bags of sand, woods and drums to block the free movement of the members of the public on the roads.

“What you’ll find on the roads now is pin-down points where police will just stop for a short time to carry out routine check on a few vehicles, and move on with their patrol exercise. Visibility of the police is a means of crime-fighting.”

Reacting to the allegations that these checkpoints are often used by the policemen as extortion points, and that the perpetrators couldn’t have had the temerity to indulge in such illegality without the tacit support of the relevant supervising officers, Nwosu said “all of us cannot be saints, and it is wrong to use the deeds of a few bad eggs to measure moral standing of others in an organization,” adding however that “when a journalist goes out for an event and collects a brown envelope at the end of the event, will you say he has collected the envelope on the behalf of his Editor or the management of the newspaper he represents? Surely, there are bad eggs in the police. Notwithstanding, we have put in place a mechanism we call stop-thebribe-initiative to stop the extortionist tendencies in the police.”

With the adopted strike-retreat strategy being employed by the policemen at usual checkpoints and roadblock spots across the state to continue extortion, it is an open truth that the IG’s order that roadblocks be dismantled may not be heeded. Many policemen’s seeming entrenchment in corrupt acts will not make them to comply and imbibe noble acts easily. But the relevant stakeholders: the police authority, civil societies and the citizenry must all wage concerted effort for the lofty aim of eradicating all known vices, which have for a long time continued to hold the morality, efficiency and professional development of the Nigeria Police in abeyance.

24

Life | Mega City

The much dreaded Ebola Virus Disease, EVD, that prompted the raising of hygiene culture in Lagos State to an unprecedented level has come back again.

Not in Lagos really. The hygiene culture so elicited has waned as if pathogens have been eradicated from the earth and may not visit again, as observed by EZURIKE UGOCHUKWU

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Ebola: Returning to the old ways

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hen The EVD made its way to Lagos, Nigeria through a Liberia-American diplomat, Patrick Sawyer, there was pandemonium, tension, fear and rumour of various kinds in Lagos. Luckily, with much effort by the necessary agencies and awareness campaign among the people, the spread was curbed. Now, the Ebola air in Lagos State is becoming palpable due to the resurgence of the virus in Liberia 42 days after the country was declared free from the disease. The assumption again is that it could still slip into Lagos like the case of Sawyer.

It means Lagosians would have to step up their hygiene culture, of regular washing of hands, safety and hygiene consciousness.

Musa Johnson, a banker in Lagos expressed deep concern that the hygienic consciousness raised to an appreciable level at the rampaging days of Ebola in Lagos and Rivers State has declined. A habit which he thought Ebola made Nigerians to attain and which we ought to retain and improve upon. “What the hell are we doing, why must we go back to where we were? As if God never said, “cleanliness is next to godliness.” That sanitation culture we raised at the Ebola days in Nigeria has moved back if not worse than what it used to be. If you move around Lagos today, you will observe people eating uncontrollably with unwashed hands and unwashed fruits which was not like that sometime in August to the end of 2014. People now urinate indiscriminately. It’s said, when a wound heals, the pain so experienced is forgotten. Corporate organizations have stopped the use of hand sanitizers in their premises. Water has stopped running in many schools,” he said.

Johnson went further to say that Nigeria borders have become porous except for the airports that one could still see some level of that alertness. He still said that Nigeria being what it is, that he may not be in doubt that all the screening centres have closed.

At the heat of the virus spread, many churches in Nigeria stopped exchanging handshake and also declined in sharing in Holy Communion for the fear of contacting the dreaded EVD. People even stopped patronizing roasted meat sellers (suya) out of fear. Today, life has gone back to usual in those joints. It is now very common to see fried meat,

Ebola virus

bean cake and many other edibles that ought to be covered, exposed to germs.

Raising our hygiene bar ought not be negotiable because indicators are there that Ebola may not be entirely wiped out from the environment like the Dr Thomas Freiden, head of the United States Centre for Disease Control and Prevention CDC, last year December, expressed his greatest worry that the truth about Ebola is that it never gets completely controlled, that it may become consistently in existence in parts of Africa.

Helen Akintola, a Lagos health officer, said Nigerians think hygiene is not for black man to abide with, as if they are immune from bacteria. “It is only by the grace of God that people survive in this country from Virus related diseases. We thank God in no small measure that when Ebola came into this country, it never started in a remote area or in part of the North.

It could have been wrongly diagnosed as one of the common diseases to the locality, by then it could have taken months of unhindered spread before it could be identified as Ebola.

I strongly advise that Lagosians step up their hygiene standard and maintain it.

They shouldn’t see the habit as a pick and drop habit,” she said.

According to WHO, sexual transmission of Ebola from recovering patients cannot be ruled out, as its report of April 15th, 2015 enunciated

the trace of Ebola in a semen sample of a man who had recovered of Ebola six months after. WHO, advised survivors to consider constant use of condom for all sexual acts beyond three months until more information is available. The world body also said Breast milk could also spread the virus, that mothers ill with Ebola are advised not to feed their babies with breast milk.

However, the Federal Government, through the director press and public relations, Ayotunde Adesugba, has advised Nigerians to be vigilant and embrace basic hygiene as a fresh case of Ebola (EVD) is being tackled in Liberia.

Washing hands

Another Ebola virus

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

25

Lagos flood: No cause to worry – Perm Sec Mr. Ayodeji Adenekan is the Permanent Secretary, Lagos State Ministry of the Environment. In this interview with Muritala Ayinla, he speaks on efforts being put in place by the state government to make Lagos a flood-free mega city and other strategies aimed at preventing flooding in the state. Excerpts Lagosians, especially residents of the flood prone areas always panic whenever the Oyan dam is open, what has been your partnership with the Osun-Ogun River Basin Development Authority on the opening and closure of the dam?

We have been partnering with them, that is why you have not had flood after the one that happened last time. It is a very good collaboration and we are happy with the regulation of the dam which is why we have not had case of massive flooding in th Lagos. That is the result of the collaboration between us and Ogun/Osun River Basin Development Authority. We have agreed with them on the modalities of releasing water from the Oyan Dam. If you dam a river, the water keeps rising and it will get to a point that if you don’t release part of the water, the dam will break; so it is necessary for Ogun/Osun to release part of the water so that it will not destroy the dam. We have related with them well, we have agreed to how they release the water gradually so that it will not come and at a go to flood the entire Lagos. So, the dam is safe and our own state is also free of flood. They are cooperating with us.

Flooding of most roads is a regular feature of Lagos metropolis whenever it rains, what are you doing to rid the the state off flash and permanent floods?

What you see is actually a flash flood. The time it takes for the water to go depends on the intensity and the duration of the rain. If you fully open the tap of a wash hand basin or the kitchen zinc, you will discover that the water level will start rising. It is not that there is no drain but the water coming from the opening tap is more than the drain.

So, what we normally have in Lagos is flash flood that goes off after some times. When the rain is very heavy and it stays for long, the water will be much, immediately the rain stops, the water start reducing. The rate at which the flood goes is what we are trying to attack because the bigger the drainage, the quicker the rate at which the flood goes.

But there is a limitation, we cant make the drain bigger than the road. We have to do what is reasonable because we have the flood for a period of time while the road is used perpetually. We are constantly trying to desilt the drains so that we can have smooth flow but as we are doing this, some people are dumping refuse.

Recently, the National Hydraulic Agency recently released a warning that 11 States in Nigeria stand the risk of flooding and Lagos State was prominently featured. What is your view on this?

In Lagos, we don’t really have to wait for the hydraulic agency to release warning notice before

more appropriate for each area.

The places where we need to cover, we cover and the ones we need not to cover, we leave them.

People open the drain, sometime the manhole and see loads kept in the cover drains. It is easier for us to manage when they are left open. we covered where we depth is more and we know there will be danger if they are left open.

Adenekan

we know that we have to be up and doing. Regularly, we plan ahead so that we will not have problem with flood in Lagos State and we have the plan to retain our primary channels and collectors and these we do regularly. Already before the release of that warning, we have put in place measures to prevent flooding in Lagos State, so we are dredging our primary channels, that is the canals and clearing collector drains. There are places we know are black spots which we have helped people permanently and regularly deflood and clear to make the drains flow. There is no problem, we are on top of it, we are always on our toes to make sure the drains flow and the flood moves out of people’s way because we understand the terrain of Lagos.

There are reports that the World Bank is not satisfied with the execution of the LMDGP Projects in Lagos despite the huge fund allocated to development and upgrading of slum areas in the state.

The LMDGP has not been concluded properly, but on our part we have taken over the drainage work, whichever is not completed, we will ensure we complete and we will make sure everything is flowing.

Whether LMDGP or not, what we are after in Lagos State is to ensure that the drainage flows. What we are after is that the people of Lagos State do not have flood. We are going to take over technically and some of them, we are already working

on and we will complete them and correct the ones that are not well executed. We will finish the existing ones, the work is really ongoing, the work is so much.

Other areas will still have to be addressed.

You know that in Lagos, by the time they finish the existing ones, there are still other ones.

The work is really ongoing it is so much that we can’t say that this 200 million Naira will finish everything. So, the ones that are not properly done, we will do them properly and then other areas will still be looked into.

It is difficult for us to clean closed drains.

We have to get machines to lift covers

The canals in places like Ojo and Badagry have not been dredged for a long time and people dump refuse in them. What are you doing to bring the Local Government officials to help in monitoring the channels properly?

We have worked on some canals in Badagry, but we cannot visit on the councils at the same time, but we try to look at the most critical one, dredge them and make them flow very well.

We are also collaborating with LG officials, recently we met with the medical officers and engineers of LG how to make them more effective in helping to monitor the drainages.

Why are some drains in Lagos covered and some not, why don’t we have all drains covered?

Open drains have their advantages and closed drains have theirs too. In doing drainages, we try to do both. It is difficult for us to clean closed drains.

We have to get machines to lift the cover. We try to see which is

Sometimes cables in the drains also hinder free flow of water and consequently constitute floods, how has the communication companies been cooperating with government in removing their cables from the drainages in different parts of the state?

Majorly in Victoria Island and Apapa, we have cable and NEPA cables inside the drains. Most of the time, we have discussed with telecommunication providers, most time we write them to remove their cables because collector drains are not meant for cables but while refuse, we removed them ourselves, even water mains, we have relocated them ourselves, the major ones we find it difficult to remove is NEPA cables. We try as much as possible to remove these cables because they hinder the flow of water. In Lekki axis, we have done a lot. In 2007, we awarded contract to do 11 collector drains and we on yearly basis, we open up canals in the area, we have even gone to Epe where we are dredging about three channels.

The problem in Lekki is illegal sand-filling which create flooding.

Tackling floods in Lagos appears to be a herculean tasks, given the nature of the state as a coastal city, what have been your challenges in trying to rid Lagos off flood?

The greatest challenge is refuse in the drains. If we don’t have refuse in the drains and it is only water that is there, the water will flow because we will only have silt in the drains. If the water is moving it will carry sand. Flood is basically water and sand and the flood moves, the sand stays, so silting is something that you normally have in any drainage. If it is only sand, it will not be as bad, but we now compound it with pure water sachets, nylon and others, so that is the greatest challenge that we have.

There are complaints that traders in Lagos markets dump refuse in the canals ceaselessly, what are you doing in this regard to address these problems?

We are doing sensitisation in the market, places in conjunction with the state ministry of information and strategy, telling them what they need to do with their waste. we are also telling them to desist from dumping refuse in the drains.

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Life | Mega City

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

The bad side of Computer Village I keja computer village is the acclaimed largest information technology market in West Africa. As such, it is always bustling with activities. At the entrance of the market are phone repairers bundled together with umbrella over their heads and agents calling out to customers to purchase their wares.

A visit to the market reveals that it is home to the major dealers of Mobile Phones, computers and accessories as well as home to thieves, swindlers and pickpockets.

In the market, keyboards of 1992 are matched together with that of 2013 version and put up for sales. Condemned phones and computers are swapped for a newer one while some are refurbished and sold to novice or business centre operators at a cheap rate.

A novice visiting the market for the first time might be ripped off his belongings or cajoled into purchasing a substandard product at either a higher price or cheap rate. The thugs posing as agents for those willing to purchase electronics take this novice to a shopping outlet and negotiate with the shop owner; a particular sum of money is awarded the agents for bringing them the customers.

Perry Sandra, a student, narrated her ordeal: “I came to the market in company with my friend, two months ago to purchase a phone.

I decided to enter Micro Station, a popular dealer of phones to purchase it due to the stories I heard about the market. I bought the phone but the memory card sold in that store was too expensive. My friend decided to get the memory card from another vendor. Unknown to me, he bought it from a hawker because it was cheap and had an Airtel logo on it. After three days of purchasing the phone and SD card, the phone began to malfunction, a phone repairer later told me the memory card was fake. I never enjoyed the phone after wards.”

With her experience, New Telegraph discovered that some customers deliver themselves willingly to scammers trying to be penny wise and eventually pound foolish.

Abimbola Daramola, a Marketer, told New Telegraph that some customers actually deserved to be swindled. He said they deliver themselves willingly to scammers.

Daramola would not forget in a hurry a nasty experience he had some time ago at the computer market. “I have been coming here for long but that day was exceptional.

This agent convinced me to buy a substandard phone. They exaggerated the quality of the phone and the many features it possessed.

They managed to convince me to swap my phone with the inferior one at an expensive rate. It still seems strange to me. I don’t know if they used charms on me. In less than two months, the phone packed up. I never saw the agents when I returned to the shop where I bought the phone,” he said.

For Olatoye Idris, a car dealer, Ikeja Computer Village is a market for hustling for many Nigerians, especially those from the Igbo community. He pointed out that even some of the popular dealers of phones sell fake, they collaborate with the agents to sell fake phones to undiscerning customers coming into the market. “I advise people to purchase

The busy computer village

their phones through a phone dealer to avoid being swindled.”

Olamileka Dopemu gave his laptop to a computer engineer in computer village with the hope that he will repair it as promised, only for the engineer to return the laptop after several months with its parts

dismantled and the buttons on the keyboard missing. He told Olalekan to purchase a new one from him at a cheap rate; that the old one is damaged beyond repair. Why the engineer didn’t tell Olalekan that it had been damaged beyond repair before taking it was the question the police men

asked him during his arrest.

Although Computer village is the hub of technological activities in Lagos State, it is advisable for customers to be careful in their transactions in order to avoid being cheated or swindled due to their ignorance or want of cheap products.

Chocolat Royal still vibrant in Lagos – Management Muritala Ayinla

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or chocolat lovers in Lagos State, they need not search far to get good and tasty chocolat. The Management of acclaimed leading restaurant and cafe in the city of Lagos, Chocolat Royal, has reinstated its total commitment to high standards, ethical values and respect for its numerous customers across Lagos.

The restaurant which the first French Patisserie and Chocolaterie in Nigeria also assured that it would continue to dispense safe, high quality products and world class service without comprise, commending its loyal customers for standing by the outlet during its one month closure. Discovering plan to improve on its service through effective and efficient food service delivery, the management of the restaurant also indicated interest in including Nigerians dishes into its menu.

The restaurant Chairperson, Saada Elias Moussalli, who made the disclosure also expressed appreciation to Nigerians especially those loyal customers who had been calling for the reopening of the restaurant. “We are grateful to you, our loyal customers and friends who have inundated us with enquiries. We appreciate your

concern and patience. We are thrilled, as we know you all are, to announce to you that Chocolat Royal has been authorized to reopen at all our outlets.

Chocolat Royal has gained preeminence for our total commitment to high standards, ethical values and respect for our customers. “The 21-year-old restaurant reputed for offering authentic French Pastries, Viennoiseries, handmade Chocolats, Breads, Donuts, Ice Cream and other intercontinental dishes would soon begin to enjoy the taste of African dishes at a very affordable price in a cozy environment.

Chocolat Royal restaurant

According to her, “My family has lived in Nigeria for three generations since 1886.

Chocolat Royal grew from a dream I had, of providing a melting pot for Nigerians from different walks of life to interact and enjoy cuisines and flavours from across the globe.

Today, we cater to hundreds of families including my own children, grand children, their friends and our personnel, who are among the first line service users at Chocolat Royal. Chocolat Royal has been recognized as a global brand through several awards, including: The International Star for Qual-

ity (Geneva - 2003), The World Quality Commitment (Paris - 2007) and the Quality Crown (London - 2010).

We are back with your favourite oven fresh breads and pastries, ice creams, cakes, chocolats and mouth-watering dishes in our restaurants located at 267A Etim Inyang Crescent, Victoria Island; Lekki Palms Mall and Lekki Centro Mall.”

Also speaking,General Manager, Chocolat Royal, Elie Yahchouchy said that the restaurant is fully back with better service delivery in a most dignifying way, after a month closure. “There are bunch of loyal customers that are just die- heard loyalists because here at Chocolat Royal, you are not just served with the meal, you are served with smile, dignity and honour and courtesy in a cozy environment. Chocolat Royal has been in the business of food delivery and eatries. We have been around for about 21 years now. It is big and long enough for one to consider chocolat royal as an instistution. There are outlets scattered around Lagos Island. At Lekki Admiralty way and the Mall. It’s been around long for people to identify with and empathise with for the period we went through,” he added.

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

27

Our Expectations

You can pick gold on the streets of Lagos Stories by Ifeoluwa Idowu

Taiwo Gbenle, CEO TMM Beauty Place think Lagos is a great place to live. In Lagos, Iwhat you can pick gold on the street, if you know I mean. Lagos is a place of opportunities.

crazy dressing sense Exposing their hot legs

Ifeoluwa Idowu

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estern lifestyle has become a part of Lagos youths, from adoption of music, to food, mode of speaking and even dressing. It has become a common sight these days to see youths taken to wearing clothes which expose parts of their bodies especially the sensitive parts. It is also common these days to see young men who put the waist of their trousers lower than it should be, calling it sagging, which became a trend in Lagos few years ago amongst the youth. They now walk awkwardly with their legs separated in order for their trousers not to fall lower than the level of sagging they adopted.

Adebowale Ajayi, a final year student of the University of Lagos, says that sagging is a sign of immaturity, which is why his school has laws against indecent dressing among the students.

“First of all, I see it as an act of immaturity. Secondly, it depicts an individual as not god-fearing. Although it is seen as a being in vogue, it started way back in prison yards when prisoners were restricted from using belts so they won’t kill fellow inmates or perhaps commit suicide.

So it makes me assume the individual that do it longs to go to jail or probably just got out. I think it is an irresponsible act which should be corrected immediately. Some do it to impress ladies whereas they are embarrassing themselves.”

Naked in the name of being trendy

Young women have also taken to wearing clothes that expose parts of their bodies; from the wearing of spaghetti tops, to alter-necks, to low waist jeans and leggings. Most times, these clothes are uncomfortable for the ladies that wear them, but having to be in ‘vogue’ is what pushes most of them to wearing such dresses.

As much as the society seems lackadaisical about the youth’s mode of dressing and behavioural pattern, Nigeria is country well known with a culture of decency.

Ironically, some street urchins in Lagos sometimes come to their consciousness of decency; they depict it by mocking ladies that are not decently dressed. Seeing a lady indecently dressed on the street, the street urchins laugh, jeer and call out to such women, calling them prostitutes and other derogatory names.

Chukwunonso Nwoji, a youth corps member, says that she views Sagging as childish. According to her, Sagging makes a person give the wrong impression. “Sagging to me is very childish. No one takes you seriously when you are sagging.

You pass on the wrong impression about you. It may be very attractive but it is not appropriate. The truth is people want to get attention even if it is the bad kind. Music videos and movies are creating the new standard of fashion, which means, the more skin you show, the better. It is not very African to dress in such manner,” she said.

Some young people however do

Displaying madness in the name of sagging

not see it as a big deal. They argue that being in vogue is what matters, and if you are into fashion trends and music, you have to go with the flow of the tide because you in order to be accepted by the public, you have to do what is in vogue.

Akinola Abayomi, a fashion enthusiast argues that those who see sagging as in appropriate are wrong.

He believes that Sagging should be done appropriately and at the right time.

“I see sagging as convenient; some people just do it wrongly. They overdo it which is why they get insulted. The truth is, sagging is quite attractive if done appropriately and at the right time. You do not expect me to go for a job interview sagging.

I would dress corporately, because that is what is required. But if I am going out with friends or something like that, I would look as trendy as I could possibly be. As for indecent dressing among ladies, I think ladies just need to know where to draw the line. For example, it is okay to wear bum shorts to the movies, but not to school. It is even quite disgusting to see a girl on leggings with a small top, except if it is a jegging. So, to me, what people call indecent is not, people are just too quite primitive in their thinking. I mean, young people still wear native, we just try to make it as trendy as possible. It’s not wrong, it’s just being fashionable. Why should a young person dress old? For God sake, we are 21st century,” she said.

There hardly is any business idea that cannot be developed into something good in Lagos State. Once you have the idea, all you need do is develop it. The population is a great helping factor because there are many needs to be satisfied. No matter how trivial your idea may seem, there is always somebody that needs the good or service you are providing. I was living at Abuja until four years ago when I moved to Lagos, and I must say that my business has grown rapidly over the time. Not that Abuja wasn’t good for business; it’s just that, for some reasons, people tend to trust the authenticity of things from Lagos. Getting clients in Lagos has not been so easy but once people get to know you, your credibility would be established. Lagos is also a good place to raise children; so long you as the parent enforce the necessary discipline.

There are good schools in Lagos and there are places that you can take your children to for fun.

Lagos actually helps you to be smart and alert.

Lagos could be quite rough and the traffic can be quite over whelming. I think the traffic is one of the things that are very discouraging about Lagos. There is always traffic in Lagos. Lagos is not a place where you have an appointment set for a time and you leave home 30 minutes before the due time. You would have to leave for hours in order to get there on time. In all sincerity, I think Lagos is a great place to live and it is also fun. There are various places to have fun like the cinemas, several restaurants, malls et al. All in all, Lagos is a land of opportunities.

Lagos Transport could get better Kazeem Obafemi Obafemi, an Engineer, he is like a that cannot survive outside its water. He FsaidorfishheKazeem has lived all his life in Lagos. “My parents

are also from Epe to be precise. The only times I have left Lagos is to go to the university in Ilorin, and also for my youth Service in Benin, the then Bendel State. Apart from that, I have been in Lagos all my life. Sincerely, I am not used to any other part of the country except Lagos. I like everything about Lagos. Lagos is very lively and very peaceful. In the old Lagos, you could move around without the fear of getting robbed or any other atrocity of such manner. In fact, we used to sleep outside our houses in Mushin, (area of Lagos) back then. Even when I lived at Ojuelegba, it was very safe. Although, there were bad spots, you just had to avoid those places and you would not have problems.

There has been transformation in Lagos over time, especially with the road expansions. The road expansion has really improved the quality of life. Although traffic is one bad issue in Lagos, as long as you know your way around, you would always find a way to manipulate it. I love the transport systems that are being put in place.

It brought about great improvement. The railway system that is being built is also very good as it will help to decongest the roads. Concerning touts, it is actually not much of a deal because touts are everywhere. They just do things like run after vehicles and other things like that. But I don’t really encounter them. What I would love to see in Lagos is the phasing out of small buses.

I think if ‘danfo’ buses are phased out just like ‘molue’ was and BRT buses are improved and put into more use, then the road transport systems would be better.

28

The Mega City

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

MEGA CITY EVENTS Thanksgiving service in honour of Mr. Femi Adesina in Lagos‌

Special Adviser on Media and Publicity to President Muhammadu Buhari, Mr. Femi Adeina and his wife, Nike

Special Adviser on Media and Publicity to the President Muhammadu Buhari, Mr. Femi Adeina and his wife, Nike (middle), with other pastors of the chuch at the event

PHOTOS: SULEIMAN HUSAINI

Lagos maritime lawyer and pastor Rhema Chapel International, Surulere, Mr. Kola Dolapo Olapoju recently held his 50th birthday at the Chevron Recreation Centre, Gbagada, Lagos

The celebrant, Kola Olapoju assisted by his wife, Ebunoluwa (2nd right) and children, from left, Oluwatomisin and Oluwasemilore cutting his birthday cake

Mr. Akinropo Olapoju, right and his wife, Mrs Moji Olapoju at the occasion

IN NUMBERS 9,700 Number of roads for Lagos motocycle riders

475

Number of roads for motocycle riders to stay off

1,274

Number of motocycles seized from Jan-June 2015

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

FCT Watch

29 Money

Bail-out: Experts seek stringent conditions for states

Foreign exchange: CBN in a fix

31

32

The Investor

Maritime

Delay in policy direction hurts stock market

Govt to float dry ports in Osun, others

34

35

Business What's news

Shareholders lose N311bn in banking stocks Investors in the companies quoted on Nigeria’s stock market recorded a loss of about N311 billion between June and July 13, 2015, in the banking sector, following sell pressure that had persisted in the equity market.

p.30

Telecoms’ input to GDP drops to 8.5%

Nigeria’s telecommunications industry’s contribution to the Gross Domestic Product (GDP) has declined by 0.3 per cent over the last six years, latest industry data released by the Nigerian Communications Commission (NCC) has revealed.

p.30

L-R: Regional Director, Africa for Curves International, Mr. Clive Robinson; Operations Director, Africa, Mrs. Amanda Coetsee; Country Director, Nigeria, Mr. Emma Esinnah and Commercial Counsellor, US Embassy in Nigeria, Mr. Brian McCleary, representing the US Ambassador, at the commissioning of the first outlet in Nigeria of Curves Ladies-only Fitness franchise held in Lekki Lagos.

Forex violations: CBN steps up penalties on banks ARBITRAGE

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Despite the penalties imposed on roundtripping, lenders still take the risk

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Tony Chukwunyem

I

n its bid to check foreign exchange arbitrage and speculation, the Central Bank of Nigeria (CBN) has intensified sanctions on banks caught violating its foreign exchange regulations, the New Telegraph has learnt.

Industry sources who pleaded anonymity on the issue because of its sensitive nature,

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

told our correspondent that in recent times the apex bank has imposed tough sanctions on such banks. They disclosed that while some of these lenders have been levied huge fines, others have been barred from participating in some categories of foreign exchange transactions.

For instance, a former banker and forex dealer revealed that CBN recently banned several medium-sized lenders from offering foreign currency telegraphic transfers services (wire transfer of funds) to their customers for violating regulations on such transactions.

He said: “These banks were frequently transferring more than the allowed maximum

limit of $10,000 per day on behalf of their customers until the CBN found out and barred them for some months from making these transfers.”

He pointed out that the CBN sanction significantly hurt the affected lenders as they had been getting a lot of income from it.

“I don’t know how they were doing it, but they really got away with it for a long time.

While other more conservative

N400m

Total value of fines paid by one of the lenders for violating forex rules

banks were scared of taking the risk, customers who wanted to transfer forex were rushing to these banks. From the way things were going I knew it was only a matter of time before the CBN discovered their tricks.”

He, however, disclosed that the regulator had partially lifted the ban and restricted the affected banks to forex outflow transfers of $10,000 per week.

Indeed, only last week, at the interactive forum on the CBN’s forex policy organised by the Lagos Chamber of Commerce and Industry (LCCI), the Director, Monetary Policy at the apex bank, Mr. Moses Tule, revealed that the CBN regularly fines CONTINUED ON PAGE 30

Rates Dashboard INFLATION RATE May 2015.................................9% April 2015................................8.7% March 2015.............................8.5%

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

EXCHANGE RATE (BDC as at July 10)

USD . . . . . . . . . . . . . . . . . . . . . . N240 Pounds . . . . . . . . . . . . . . . . . . . N339 Euro . . . . . . . . . . . . . . . . . . . . . . N257

l Foreign Reserves – $29.719bn as at 8/07/2015

Source: CBN

EXCHANGE RATE (Interbank as at July 10)

USD . . . . . . . . . . . . . . . . . . N200.00 Pounds . . . . . . . . . . . . . . . . N315.27 Euro . . . . . . . . . . . . . . . . . . N225.60

30

Business | News

DUMPING Foreign investors continue to offload Nigerian stocks Chris Ugwu

I

nvestors in the companies quoted on Nigeria’s stock market recorded a loss of about N311 billion between June and July 13, 2015, in the banking sector, following sell pressure that had persisted in the equity market.

The volatile political and macro-economic environment that had

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Shareholders lose N311bn in banking stocks characterised the current financial year had taken toll on the stock market, reducing shareholders’ investment value.

As at the time of filing this report, the market capitalisation of the Nigerian Stock Exchange (NSE), which gauges the value of listed stocks, stood at N10.801 trillion as against the opening figure of N11.658 trillion

recorded at the close of trading on May 28, 2015, accounting for a loss N857 billion or 7.8 per cent.

Checks by New Telegraph showed that the banking sub-sector recorded a drop of N311 billion during the period under review.

Managing Director, Financial Derivative Company, Mr. Bismark Rewane, had said that absence of

a firm policy direction makes investors jittery. He added that the market remains bearish as investors seek shelter in alternative asset classes.

Besides, he said that annual results released in June by quoted companies showed a mixed performance, stressing that the stock market may dip further following disappointing H1 earnings.

Rewane said that stocks were set to find new bottoms when floor price removal (the one kobo) rule becomes effective, adding that market turnover will increase after the policy becomes effective in August.

He noted also that foreign portfolio reversals were imminent as the Federal Reserve was set to increase interest rates.

The expert, who was

L-R: Former Chairman, Board of Directors, FMDQ OTC Plc, Aigboje Aig-Imoukhuede; Chairman, Board Listings & Quotation Committee, Phillips Oduoza; Director-General, Debt Management Office (DMO), Abraham Nwankwo; Managing Director/CEO, FMDQ OTC Plc, Bola Onadele and Chief Executive Officer, Chapel Hill Advisory Partners Limited, Bolaji Balogun, during the listing of N4.8 trillion FGN bonds and quotation of N2.8 trillion Nigeria Treasury Bills on FMDQ OTC Securities Exchange in Lagos.

PHOTO: SULEIMAN HUSAINI

Telecoms’ input to GDP drops to 8.5% MTN LEADS

MTN Nigeria remains the undisputed leader with 61.7 million active lines Kunle Azeez

N

igeria’s telecommunications industry’s contribution to the Gross Domestic Product (GDP) has declined by 0.3 per cent over the last six years, latest industry data released by the Nigerian Communications Commission (NCC) has revealed.

The data, which show the trend in telecoms’ GDP contribution over a six-year period spanning 2010 and March 2015, was generated as a result of the nation’s GDP rebasing in 2014 conducted by the National Bureau of Statistics (NBS).

According to the new statistics, telecoms’ contribution to GDP stood at 8.9 per cent in 2010, but declined to 8.6 per cent in 2011.

By 2012, its contribution to GDP further fell to 7.7 per cent; 7.4 per cent in 2013; 7.6 per cent in 2014 and by the end of March, this year, the sector’s GDP contribution was 8.5 per cent.

Consequently, New Telegraph’s analysis of the data showed that, though the sector recorded an increase of 0.9 per cent from between 2014 and end of the first quarter of this year, it also represents a dip in GDP contribution of 0.3 per cent in the sector, if analysed over the past six years.

Meanwhile, active telecoms subscriptions in the country rose to 146.5 million as at the end of May, this year.

From 139.1 million active mobile subscriptions on all the mobile networks in the country in December 2014, the figure increased to 140.8 million in Janu-

ary; 142.5 million in February; 143.9 million in March and 145.4 million in April. Also, at the end of May, the figure moved up to 146.5 million.

Of the figure, Global Systems for Mobile Communication (GSM) networks control 144.3 million (98.52 per cent); CDMA networks hold 1.9 million (1.36 per cent), while fixed line networks have a paltry 181,625 lines, representing 0.12 per cent.

Also, in terms of market share among players in the GSM segment, MTN Nigeria remains the undisputed leader with 61.7 million active lines (43 per cent) and this is followed by Globacom with 30.4 million subscribers (21 per cent).

Airtel came third with 29.5 million active mobile subscriptions, representing 21 per cent market share, while Etisalat comes fourth with 22.5 million active subscribers (20 per cent).

optimistic that political stability in the country will attract foreign investment, which will add liquidity in the market, noted that the market may remain quiet in July as it awaits Q2 corporate announcements.

Rewane had recently noted that the current downturn in the nation’s capital market might be sustained, adding that this became necessary following the challenging economic outlook, which has continued to fuel negative sentiment on the capital market triggered by the huge drop in oil prices.

The nation’s stocks fell to a more than three-month low and the naira hit another record low on the parallel market as at the time of going to press last Monday, as Central Bank of Nigeria’s (CBN) restrictions fed unofficial trade in dollars, traders said.

The local bourse, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, dropped for the ninth consecutive day as investors shed banking, consumer and oil shares.

Low oil prices have battered the naira and government finances.

Sub-saharan Africa’s second biggest stock index closed down 0.32 per cent on Monday, 11.5 per cent lower than its 2015 peak, hit on April 2, having soared 12.2 per cent in the two sessions after President Muhammadu Buhari won a closely-fought presidential election.

The apex bank has said that it would not be focusing on the thinlytraded parallel market when determining the exchange rate, adding that people preferred to use the unofficial market for undocumented transactions.

CBN steps up penalties on banks CONTINUED FROM PAGE 29

banks for various forex violations but does not announce such sanctions in order not to send wrong signals to the public.

He said: “We don’t allow the banks to get away with violations of forex regulations. Any bank caught is severely penalised. For instance, I can tell you that in this country a bank has been fined N400 million for such violations.”

Analysts point out that the banks usually derive a significant part of their income from forex transactions and that the CBN’s recent forex policies have significantly impacted lenders’ earnings.

Consequently, many banks have faulted the CBN’s forex measures and called on the apex bank to devalue the naira.

Just a few weeks ago, Managing Director and Chief Executive Officer of First Bank of Nigeria Limited, Mr. Bisi Onasanya, said that the CBN needs to let the naira devalue as the foreign exchange trading restrictions used to keep the currency stable were starting to harm growth in the country’s economy.

The First Bank boss said: “People just don’t believe that the CBN has what it takes to sustain the exchange rate at the present level.

“The market needs to reopen. You cannot peg the naira at a level that the whole world knows is unrealistic.”

The CBN has, however, insisted that it will penalise banks and Bureaux de Change (BDC) that flout its forex regulations.

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NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

FCT Business Watch

President Muhammadu Buhari

Abdulwahab Isa Abuja

I

n a matter of weeks, distraught civil servants at the states level where unpaid salaries had piled up would begin to freshen up, courtesy of a three-pronged bailout package orchestrated by the Presidency.

In keeping to his declaration to address issue of salary arrears on assumption of power, President Muhammadu Buhair, two weeks ago, rallied the Central Bank of Nigeria (CBN) and other stakeholders to achieve his pledge.

Going by the benevolence, the troubled states and local governments are expected to start the execution of developmental projects that would be beneficial to their citizens as part of their campaign programmes.

No fewer than 10 states, including Osun, Rivers, Oyo, Ekiti, Kwara, Kogi, Ondo, Plateau, Benue and Bauchi, among others, had found it difficult to meet salary obligations to their civil servants.

After holding several sessions with the governors, President Muhammadu Buhari decided to deal with the issue of staff salaries, a predominantly state affairs, by approving N713.7 billion bailout as part of a threepronged relief package that will end the workers’ plight.

Life line Contained in the package, which has generated diverse opinions, are N413.7 billion special intervention funds and the balance of about N250 billion to N300 billion, which is a soft loan to states.

The N413.7 billion was sourced from the recent LNG proceeds and the remaining N300 billion is to be provided by a Central Bank of Nigeria (CBN)-packaged special intervention fund, while the Debt Management Office (DMO) is expected to assist states to restructure their over N660 billion

Osun State Governor, Rafiu Aregbesola

Rivers State Governor, Nyesom Wike

Ekiti State Governor, Ayodele Fayose

Bail-out: Experts seek stringent conditions for states commercial loans.

The CBN’s intervention has elicited diverse reactions both from experts and the public.

The CBN enabling Act of 1958, including subsequent amendments, conferred on the apex bank unequalled status of banker to government and bankers’ bank.

CBN’s role The mandate of CBN is derived from the 1958 Act of Parliament, as amended in 1991, 1993,1997,1998,1999 and 2007. In specific term, the Act recognises CBN as Banker to government with a core mandate of providing economic and financial advice to the Federal Government.

CBN’s direct financial intervention in form of soft loan package of between N250 billion to N300 billion to be advanced to cash-strapped states has compelled analyst and financial experts to examine whether the apex bank acted in the right direction, and what is to be done to safeguard future occurrence and mismanagement of public resources by states.

Speaking with New Telegraph on telephone, an Economist and a former Deputy Governor of CBN, Dr. Obadiah Mailafia, said that CBN did a good thing that is within its mandate. He, however, advised the apex bank to avoid crowding out conventional banks entrusted with the responsibility.

“The N250 billion or more to be provided by CBN to bail out the states is a good thing and I will say it is a welcome development. However, the CBN can intervene in this circumstance but

No lesson would be learnt if states engaged in financial profligacy because they are sure of getting financial bailout without going through pains to stop them from repeating same act in future

it should avoid a crowding out effect. The retail business, going by the provision in the Act, is not that of CBN, but once in a while, in a situation of credit crunch as currently being experienced, the apex bank can lend, but it is the business of commercial banks,” said Mailafia.

He warned CBN to be mindful of moral hazard, saying that no lesson would be learnt if states engaged in financial profligacy because they are sure of getting financial bailout without going through pains to stop them repeating the same act in future.

“While the CBN acted well, it should be done with some conditions to teach states lesson,” he added.

Mailafia suggested that the CBN and DMO collaborate by restructuring the expenditure pattern of states to avoid a repeat of the huge debt scenario.

He noted: “What is essential is to stop states from incurring unnecessary debts. CBN should take seriously its advisory role, not just verbal advisory; CBN and DMO should monitor public expenditure by states, especially those that will get the bailout fund. CBN should ensure that they are kept on solid foundation to avoid a re-occurrence of future borrowing. We need to design special monitoring mechanism to track states’ expenditure.”

Also, an Economists and Chartered Accountant, Tope Fasua, told New Telegraph that the CBN acted in line with its mandate.

He, however, supported the position that the loan must go with conditions.

According to him, given the fi-

nancial recklessness by some state governors, which put their states in position of financial insolvency, the CBN must attach stringent conditions to the bailout.

Again, the Lead Director of Centre for Social Justice, Eze Onyekpere, observed that while CBN has acted within its mandate as banker to the Federal Government, it should be done with conditions attached.

The LDC boss said that the CBN ought to have attached conditions to be fulfilled by states before raising bailout fund.

“Moreover, Section 41 of Fiscal Responsibility Act applicable to all States of the Federation (vide items 7 and 50 of the Exclusive Legislative List) prohibits borrowing for recurrent expenditure and payment of salaries. The minimum that is expected is that strict conditions of fiscal reform should be attached to accessing the loan,” Onyekpere said.

He contended that many states had failed, neglected and refused to pass the Fiscal Responsibility and Public Procurement laws, adding that where they have been passed, most states have refused to make them operational.

“Allowing such states to access the funds will only strengthen existing perverse incentives, which encourage fiscal rascality,” he said.

Conclusion From the foregoing, it is believed that although CBN’s role in the bailout remains a commendable gesture, there are, however, fears that the bailout could be taken for granted and possibly misappropriated if prudent rules are not attached to the loans.

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Business |Money

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Foreign exchange: CBN in a fix

T

he naira is in a free fall on the parallel market.

Since June 24 when the markets started reacting to the Central Bank of Nigeria (CBN)’s latest policy to restrict access to foreign exchange for certain categories of importers, the naira has declined against the dollar almost on a daily basis from N222 to N240 as at last Friday. Pundits are predicting that the local currency would further depreciate unless the CBN reviews its forex policy.

Items restricted Essentially, the policy banned importers of 41 selected items such as rice, private jets, textiles, tomato paste, poultry products and furniture from access to foreign exchange in either the interbank or Bureaux De Change (BDC) markets.

The CBN argued that it took the step in order to beef up the country’s rapidly depleting external reserves, pointing out that most of the items on the list could be produced locally. It also stressed that the implementation of the policy would help to conserve foreign reserves and facilitate the resuscitation of domestic industries as well as create employment.

Interestingly, although following the 50 per cent slump in oil prices, the CBN had since the last quarter of last year introduced various measures to try to curb demand for forex such as closure of the official foreign exchange window, review of banks’ Net Open Position (NOP) and placement of 72-hour limit on forex utilisation, among others, none has, arguably, had such an immediate impact on the economy as the latest policy.

For instance, barely 36 hours after the CBN announced the new policy, the naira fell against the dollar from N222 to N225 on the parallel market. According to analysts, the new policy resulted in an estimated $5.7 billion quarterly forex demand by importers of the 41 items moving from the official to the parallel market, thereby fuelling scarcity of dollar in that market as well as the BDC segments of the forex market.

Mixed reactions The development has generated mixed reactions among industry stakeholders. While most banks and affected importers have called for a review of the policy, other financial analysts believe that the regulator made the right call.

For instance, Managing Director and Chief Executive Officer of First Bank of Nigeria Limited, Mr. Bisi Onasanya, contended that the CBN needed to let the naira be devalued because the foreign-exchange trading restrictions had started to harm growth in the country’s economy.

“People just don’t believe that the CBN has what it takes to sustain the exchange rate at the present level. The market needs to reopen. You cannot peg the naira at a level that the whole world knows is unrealistic,” he said.

With the economy clearly hurting, calls for the Central Bank of Nigeria (CBN) to ease forex trading restrictions and devalue the naira are growing louder.

But with an eye on the parlous state of the country’s external reserves, the apex bank is so far resisting such calls. Tony Chukwunyem reports.

Buhari

“We are in a situation where Nigerian banks are shopping for foreign-exchange in the international market. We need to bite the bullet and move on, or there will be repercussions over the long term,” Onasanya further said.

However, respected financial analyst/consultant, Dr. Boniface Chizea, faulted the First Bank’s CEO’s stance. In an article made available to New Telegraph, he argued that past devaluations did not lead to the stability of the exchange rate and urged the CBN to stick to its policy.

He stated: “The point has to be made again that if you liberalise the naira and relax controls to make the foreign exchange market more liquid, the country will run into real problems. The reserves will collapse overnight and credit risks will worsen and the much-taunted growth in productivity will not result to impact the unemployment situation.

“In my well-considered opinion, this country should do all it takes to avoid succumbing to the pressure of those who would preach devaluation but only do so as it is adjudged inevitable, even then within the context of a mix of other supportive policies… Devaluation is an ill wind and a slippery slope, which once you are unfortunate to encounter, is difficult to know where it will bottom out; as a matter of fact, it never does!”

He further argued: “In point of fact, devaluation in the present Nigeria situation caters more to the interest of the external sector. The challenge confronting the country and, particularly the Central Bank, is that reserves are dwindling with little or no prospects for accretion and the vulnerability of Nigeria in its dependence on oil revenue is well known and therefore portfolio in-

Emefiele

vestors first voted with their feet by a reversal of investment flows, suspecting devaluation and those outside are waiting for things to stabilise and the degree of freedom, which the Central Bank enjoys is limited.”

The degree of freedom, which the CBN enjoys is limited

LCCI’s perspective It was against this backdrop that the Lagos Chamber of Commerce and Industry (LCCI), last week, organised an interactive forum on CBN’s foreign exchange policy. It was an opportunity for some LCCI members who had complained that their businesses would be badly affected by the policy to lay their complaints with the CBN. Specifically, they said that the failure of the CBN to define the Harmonised System (HS) Code for the items on the list had prevented them from accessing foreign exchange to import vital inputs and that they were on the verge of closing shop.

But stating the CBN’s case, the Bank’s Director, Monetary Policy Department, Mr. Moses Tule, emphasised that the major objective of the CBN in stopping the sale of forex to affected importers was to ensure the survival of the Nigerian economy.

Tule pointed out that the regulator had little choice but to take the step, arguing that the rising demand for foreign exchange would have resulted in the depletion of the external reserves and the collapse of the economy.

He lamented the import dependent nature of the country’s economy, pointing out that many of the items that are imported into the country can be produced locally. According to him, in the first five months of this year, $575 million was spent on the importation of wheat, while $374 million was spent on fish and $349 mil-

lion on electrical and electronic appliances into the country.

“It would be wrong to continue with a policy that will keep impoverishing our farmers, local industries and growth of our economy, why will somebody be importing toothpick or egg, when we have it in abundance in Nigeria?” Tule said.

The CBN director noted that the regulator was concerned about rising unemployment in the country, stressing that the importation of items such as rice, cement, tooth pick and so on, boosts employment in their countries of origin while worsening the problem back home.

He said: “The level of unemployment is worrisome. No economy is born by foreign exchange.

The level of economic activity creates foreign exchange and the economic activity must be such that economic agents must create foreign exchange agents and bring it back to the economy.

If you keep taking water out of a bucket without putting some back, it would eventually become empty. An economy must first exist before you can have a CBN.” The CBN top official also rejected criticism that the list contained not only finished products but also vital inputs, which many manufacturers needed to keep their factories running. He, however, stated that the CBN would examine the suggestion that it should attach HS Codes to items on the list.

As he put it, “if we begin to define what is input or finished goods, we will not stop anything.

What is one person’s input might be another’s finished product.

But I will take the issue of the definition of HS Codes back to Abuja.”

In his remarks, LCCI Director General, Mr. Muda Yusuf, urged the CBN to quickly take steps to address the concerns raised by manufacturers on the lack of clarity on what items are affected by the restriction. He noted that there was a lot of uncertainty in industry circles about the next step that the regulator would take, noting that this was hurting the economy.

CBN jettisons devaluation However, despite of the concerns about the policy expressed by key stakeholders last week, the CBN insisted that it was going to stick to its position.

For instance, reacting to the steady decline in the value of the naira on the parallel market, last Thursday, CBN’s Director, Corporate Communications, Mr. Ibrahim Muazu, stated that the apex bank would not be distracted by the development and would not take it into consideration in determining the exchange rate.

He contended that the volume of trading in foreign exchange that takes place in the market was so marginal that it should not be used to determine the naira’s rate.

He said: “There is need to deCONTINUED ON PAGE 33

Business | Money

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

VOLATALITY

Subsidy removal will reduce pressure on the naira Stories by Tony Chukwunyem

R

espected economist and Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has said that the scrapping of security votes for political office holders would result in significant savings for state governments throughout the country.

He also called for the removal of subsidies on petroleum products, pointing out that this would reduce the pressure on the naira.

Speaking on a Channels TV programme, Rewane emphasised that the country’s economy was in dire straits, adding that with the price of oil unlikely to fully recover in the shortterm, both the federal and state administrations would have no choice but to focus on blocking all sources of government revenue wastage.

He noted that the security votes and subsidy regime on petroleum products was fraught with irregularities and should also be scrapped.

He predicted that the removal of subsidies would strengthen the naira and result in more revenue for the federal and state governments.

Revenue slump: Rewane wants security votes scrapped Besides, the FDC boss noted that the scrapping of subsidies will lead to a significant drop in the volume of petrol also known as Premium Motor Spirit ((PMS) consumed daily in the country.

In a recent economic

bulletin, analysts at the FDC had noted: “The exchange rate has become more interest rate-dependent than on inflation. We expect the naira to trade horizontally in June, but tilting towards a lower value if the external reserves

fall below $29 billion. However, if there is a swift removal of subsidies, the naira will stabilise and possibly appreciate marginally in the near term.”

The experts further predicted that following the instability in the

economy caused by fuel scarcity in recent months, which led to an increase in transport fares, the new administration is likely to remove the subsidies in the near term.

“Meanwhile, following the instability caused by

the scarcity and the need to build up the fiscal buffers, the Buhari administration is likely to eliminate the subsidy regime in the near term. This will cause an initial spike in consumer prices,” they stated.

L-R: Public Affairs Officer, US Consulate, Mrs Dehab Ghebreab; Ogun State Deputy Governor, Mrs. Yetunde Onanuga and Corporate Relations Director, Guinness Nigeria Plc, Mr. Sesan Sobowale, at the commissioning of the Water Health Centre, donated by Guinness Nigeria Plc to the Adigbe Community in Abeokuta, Ogun state.

BDCs seek easing of regulatory requirements

A

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gainst the background of the Central Bank of Nigeria (CBN)’s recent suspension of 437 Bureaux De Change (BDCs) from accessing dollar sales at the Interbank Foreign Exchange Market (IFEM), the Association of Bureau De Change Operators of Nigeria (ABCON) has appealed to the apex bank to ease some of the regulatory requirements for BDC operations in the country.

In a letter to the CBN Governor, Mr. Godwin Emefiele, signed

by ABCON’s Acting Chairman, Aminu Gwadabe, made available to New Telegraph, the association stated that the BDC subsector of the foreign exchange market was being hindered from performing its mandatory role in the financial sector because of what it described as “overregulation and complex documentation requirements.”

ABCON said that the myriad regulations have made it difficult for BDC operators to effectively comply with statutory and regulatory requirements. It pointed out that as many as six departments of the apex bank are involved with BDC regulations, supervision, licensing and monitoring, a situation it said “constitutes multiple regulation of a unit of the financial subsector that is only involved as a

small market player.”

Besides, it noted that a BDC operator is expected to render daily, monthly, quarterly, half yearly and annual returns to these various departments of the same corporate body, which could be very cumbersome, repetitive and time consuming for both the operator and the regulator.

In addition to the above mentioned reports, the BDC, according to ABCON, is also under obligation to render same returns to the Economic and Financial Crimes Commission/Nigeria Financial Intelligence Unit (EFCC/NFIU), while also reporting to other statutory government establishments such as the Federal Inland Revenue Service (FIRS) and the Corporate Affairs Commission (CAC) respectively.

Also, obviously referring to the recent suspension of some its members, ABCON identified the high penalties imposed on members by the regulator for infractions as one of the major challenges facing the sub-sector.

According to the association, some of its members have had to pay high penalties to different departments of the CBN where regulations were violated. “The result of this is heavy burden on

the BDC considering the little margin of profit allowed on their transactions,” it stated.

Moreover, ABCON pointed out that the financial pressure on BDCs had increased in recent times because apart from the review of the operational requirements, which made it mandatory for every BDC operator to recapitalise and upgrade their documentation with the CAC, the Commission also hiked incorporation fees, thereby charging enormously for the perfecting of documents.

Also, ABCON noted that the documentation requirement to process a Personal Travelling Allowance (PTA) of $1000, for instance - international passport, valid visa, ticket etc- usually made the process, “cumbersome, complex and inconvenient for both the buyer and the BDC operator.”

Other challenges cited by the association include, network issues with the Electronic Financial Audit Sub-System (E-FASS), limited scope of operations for BDCs due to, “lower allowable margin of 3.5per cent” and also, what it describes as “inadequate regulatory oversight.”

Consequently, it called on the CBN to convene a stakeholders’ forum where the issues it had raised would be discussed.

CBN in a fix CONTINUED FROM PAGE 32

emphasise the parallel market; how can less than one per cent be determinant of the rate? Most of those going that way are those that don’t want to be documented.”

Muaza insisted that the official interbank market had the capacity to handle legitimate dollar transactions, but that people preferred to use the unofficial parallel market for undocumented transactions. He further pointed out that the CBN was currently not considering devaluing the naira as doing so could worsen inflation.

More significantly, CBN Governor, Mr. Godwin Emefiele, also stoutly defended the bank’s position while appearing before the leadership of the Senate last week. He revealed that as a result of the measures put in place by the apex bank, the external reserves, which had declined from $37.3 billion in June 2014 to $29.1 billion as at the end of

June 2015, had begun a gradual recovery, noting that as of July 7, 2015, the reserves stood at $31.89 billion.

Conclusion However, the general view among analysts is that if the naira continues to decline in the parallel market, the CBN would have little choice but to devalue the currency, especially if the price of oil does not sufficiently recover.

As one analyst put it, “the external reserves would determine if the CBN would devalue or not. If the reserves keep rising, the CBN would feel confident that its measures are having the desired effect and would see no reason to change.

But if despite all the restrictions, the naira continues to depreciate and the reserves remain under pressure, the CBN would just have to devalue the naira. Unless oil prices rise to early 2014 levels, the CBN will consistently have a difficult job managing the exchange rate.”

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Business | The Investor

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Chris Ugwu Peaceful elections Analysts and investors who had expected that Nigeria’s presidential election will erupt in chaos celebrated the relatively peaceful victory of opposition leader, Muhammadu Buhari — and the excitement filtered into the country’s stock market thereafter.

This became imperative because Nigerian Stock Exchange (NSE), which stepped into 2015 on an unfavourable note with key measurement indicators tilting southwards, finished the first quarter with a loss of N760 billion.

However, the peaceful presidential elections that saw former military ruler emerging winner, ignited excitement in the capital market community, leading to a gain of N906 billion in market capitalisation, which began the second quarter on a positive trajectory.

Nigerian stocks had surged the most since March 2010, leading gains among world equity markets, after Buhari won a vote that marked the first peaceful shift in power since the end of colonial rule in 1960.

The Exchange’s All Share Index rose for a ninth day to extend its longest streak of gains since December 2012.

The key benchmark indices maintained positive path to close in the green, taking supports majorly from highly and medium capitalised stocks.

Specifically, the market capitalisation of equities appreciated

by N903 billion to hit N11 trillion, as market sentiment took a positive trend.

The twin market indicators, the All-Share Index, rose by 2635.32 basis points or 7.7 per cent from 31,744.82 to close at 34.380.14, while the market capitalisation of equities gained N903 billion or 7.7 per cent from N10.717 trillion to N11.620 trillion.

According to Bloomberg News, the West African nation’s $500 million of Eurobonds due July 2023, advanced for the 11th day, pushing the yield down to the lowest since December 8, as President Goodluck Jonathan conceded defeat, reducing the threat of post-election violence, which marred previous votes.

“The political risk has certainly decreased,” a money manager at Stanlib Asset Management Limited, Thabo Ncalo, which oversees about $45 billion and has been adding to its Nigerian holdings, said by phone from Johannesburg. “It bodes well for investing in Nigeria. It boosts the case for coming back into the country,” he said.

Dashed hopes However, the honeymoon the capital market enjoyed was short-lived, as expectations by some market watchers that the peaceful general elections and subsequent smooth handover to the new government would drive investors’ optimism to galvanise stock market activities in the second quarter of the year was dashed.

Consequently, stocks, last week, fell to a three-month low and the naira hit a new record low.

The trading floor of the Nse

Delay in policy direction hurts stock market Investors had hoped for a sustained rally after smooth elections in March. But markets have taken a hit from worries over the delay in appointment of cabinet members, continued slide in the naira and the impact of persistently low oil prices on government finances.

Delay in cabinet appointments Delay by the new administration of Buhari to name ministers and other officials who will give clear policy direction of the economy after about two months of inauguration has cost investors in the NSE a monumental loss.

Market analysts said that investors, especially foreigners, were unlikely to make significant investment in the market, if any at all, until they had a clear picture of the policy direction of government.

This, according them, is due to the delay in the formation of the cabinet and lack of vital information about what the economy’s direction is going to look like, leaving investors uncertain about what policies government will implement.

Analysts’ perspective Analysts at FBN Capital reviewing the stock market at the end of June, said: “Both Lagos and Nairobi stock markets have declined this year by -4.1 per cent and -5.4 per cent ytd respectively, whereas the more liquid and far larger Johannesburg bourse has gained 5.8 per cent. Lagos has been the more erratic, shedding -14.7 per cent in January alone on the negative macro headwinds, yet gaining 20.0 per cent between 20 March and 13 April on an election-driven surge. The NSE ASI has since been in broad retreat on a combination of poor company results and a sense of drift since the handover to the new administration on 29 May.”

The honeymoon the capital market enjoyed was short-lived

They noted that the APC assumed power at the end of the transition with a good deal of goodwill with the population and investors.

“The market is waiting impatiently for new appointments and policies. We have often said that its largest challenge is not fiscal but institutional (the willingness of the legislature and the executive, both APC dominated, to work together). It gives us no pleasure to point out that our call has been vindicated.

“We have seen alarmist stories that core ministerial appointments may not be made until the assembly returns from its summer recess in September and hope that they represent indirect pressure on the legislature to deliver,” they said.

The Chief Executive Officer, Financial Derivatives Companies (FDC) Limited, Mr. Bismark Rewane, said that the delay by the new administration in Nigeria to name cabinet members to drive government policies is increasing uncertainty and negative sentiment in the nation’s stock market.

Rewane, who stated this while presenting the company’s monthly economic news and views at Lagos Business School (LBS), said that the absence of a firm policy direction makes investors jittery, adding that the market remains bearish as investors seek shelter in alternative asset classes.

The cabinet delay won’t please investors, said Alan Cameron, an economist at Exotix Partners LLP. “They’re expecting tighter fiscal policy, currency devaluation and a greater focus on tax collection after the drop in oil prices, he said.

“There was initially some hope that Buhari would be able to tackle these changes more quickly and with more credibility, but the time line has now been pushed back,” Cameron said by

phone from London. “It’s going to be a difficult pill to swallow for foreign investors,” he said.

Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu, said that the policies of government would determine the return of the foreign investors and an upturn in investment in the capital market.

He noted that the economic policies of the new government would either make the capital market attractive or unattractive for investors, both local and international.

“If government comes up with policies that make Nigerian instruments very attractive and then stabilises the exchange rate or the exchange rate is at a level where foreign investors believe that it will not depreciate materially further, then you will see the return of foreign investors, which may up their share in the market.”

Naira/oil price slide Last week, Bloomberg noted that Nigeria’s currency, twice devalued in the past year in an attempt to cope with lower oil income, has weakened 7.7 per cent against the dollar this year on the interbank market. The International Monetary Fund (IMF) estimates that growth will slow to 4.8 per cent this year from 6.1 per cent in 2014.

The NSE Index hit its 2015 peak of 35,728.12 on April 2, the day after Buhari was declared the election winner. Since then it has fallen eight per cent.

Rewane had noted that the current downturn in the nation’s capital market might be sustained, adding that this became necessary following challenging economic outlook, which has continued to fuel negative sentiment on the capital market because of the huge drop in oil prices.

Conclusion Unless there is a clear picture of the policy direction of government, investors’ apathy in the Nigerian capital market will be sustained despite series of strategies, including tighter regulatory frameworks and reform by the regulators.

35 N1bn contraband: Customs arrests 129 smugglers p.36

Maritime

African Shipping Line berths with 900 containers p.37

Containers awaiting clearance at the port

Govt to float dry ports in Osun, others Three new Inland Container Depots (ICDs) are to be established in addition to the six that are waiting to be declared and dedicated as ports of destination and origin for cargoes by the Federal Government, BAYO AKOMOLAFE reports

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he Nigerian Shippers’ Council has resolved to establish dry ports in Osun, Anambra and Kebbi states.

It was learnt that the gazette for the declaration of the ICDs as full fledge ports is before The Presidency.

The plan to create the dry ports was based on requests by shippers from those areas through applications to the council.

The ICDs, which will be sited at Onitsha, Lolo in Kebbi State and Dagbolu in Osun State will be on Public, Private Partnership (PPP) basis.

Dry port The dry port or inland container depot is a common user facility with public authority status. It is equipped with fixed installations and offer services for handling and temporary storage of import/export laden and empty containers carried under Customs control and other agencies competent to clear goods for home use, warehousing, temporary admissions, re-export, temporary storage for onward transit and outright export. Trans

to these ports where they will be examined for customs duties and other duties payment, instead of doing that at the seaports.

“This will reduce the perennial congestion at the ports, and it will also bring shipping to the doorstep of shippers. Most importantly, it will reduce the cost of transportation.”

shipment of cargo can also take place from such facilities.

It is the equivalent of a seaport located in the hinterland and receives containers by rail from the seaport for examination and clearance by Customs. It has all the loading and non-loading equipment needed to handle container cargo.

Genesis of dry port The dry port was first introduced in 1979 when the then Elder Dempster Lines led other members of the United Kingdom West Africa Liner Conference (UKWAL) and teamed up with the National Insurance Corporation (NICON) to establish an ICD in Kano under the management of Inland Container Nigeria Limited (ICNL) and another one in 2006, which was gazetted in the Federal Republic of Nigeria Official Gazette No. 30 volume 94 of May 21, 2007, but up till now only the one in Kano State is working partially.

Advantages Executive Secretary of the council, Hassan Bello, a lawyer, explained that government had mulled the declaration of six others as full fledge ports because of their advantages.

He noted that the idea to establish dry ports in the country was to bring shipping services to the doorsteps of shippers, assist in decongesting the seaports and make them more user-friendly. It would help revive and modernise the railway system as a primary mode for long distance haulage of cargo and assist in the reduction of overall cost of cargo.

Bello said: “It is the long-term solution to port congestion in the sense that cargoes could be assigned to these ports through bill of laden. The cargoes will be transported mostly by train

The project is being implemented on the Build, Own, Operate and Transfer (BOOT) basis

ICDs and concessionaires The dry ports are located in Ibadan, (Oyo State), Isiala Ngwa, (Abia State), Jos Heipang, (Plateau State), Bulunkutu, (Borno State), Zawachiki, (Kano State) and Zanfarawa-Funtua, (Katsina State).

Their preferred concessionaires include the Eastgate Inland Container Terminals Limited, whose depot is located in IsialaNgwa, Aba, Abia State, with capacity of 50,000 Twenty-foot Equivalent Unit (TEU) of Container; Catamaran Logistics Limited in Ibadan, Oyo State with 50,000 TEU; and Dala Inland Dry Port Limited, located in Kano with 20,000 TEU. Others are Duncan Maritime Services in Jos, Plateau State, with 20,000 TEU capacity; Equatorial Marine Nigeria Limited, Funtua, with 10,000 TEU and Migfo Nigeria Limited, Maiduguri, with 10,000 TEU. Port of destination The executive secretary explained that the council had reached a stage where the ICDs would now be designated as port of origin and port of destination.

He noted that the request for such designation was before Mr. President.

“The moment these ports are so declared you will see increased activities. Many people are clamouring to start these port operations, but we are looking for the right

legal framework for them to come alive. The dry ports are located in Ibadan, Isiala Ngwa in Aba, Kano, Jos, Funtua and Maiduguri respectively,” he stressed.

Implementation committee In 2006, an ICD Implementation Committee was established with the Nigerian Shippers’ Council as the implementing agency. It was saddled with the supervision and monitoring of the project on behalf of the Federal Government.

The project is being implemented on the Build, Own, Operate and Transfer (BOOT) basis.

They are expected to operate the facility for 25 years, after which they transfer ownership to the Federal Government.

The model also requires the Federal Government to provide land free of all encumbrances to the operators who are also given some tax and other incentives.

Scanning and computerisation system and procedures for clearing of cargo will be the same in the ICDs as they are at exhibiting ports.

Challenges However, the Lagos Shippers’ Association has expressed fear that the dry ports may not solve the challenges of port operation in the country.

Its president, Rev. Jonathan Nicole, said that the dry port could only function if the railway was revived.

Nicole said: “The dry ports can only function if you have the railway. If you take 10 containers to Ibadan, for instance, and the cost of doing business there is higher than using the road, if the ICD’s are more expensive, of course the importer will prefer to clear his goods in Lagos.”

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Business | Maritime

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

N1bn contraband: Customs arrest 129 smugglers ILLEGALITY Traders in the Southeast engage in illicit imports Stories by Bayo Akomolafe

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he anti-smuggling unit of the Nigeria Customs Service (NCS) Zone C, Owerri, has recorded 226 seizures of contraband items with

a Duty Paid Value (DPV) of N1,016,833,292.

The command also arrested 129 suspects in connection with the smuggling of various goods between January and June this year.

Already, 118 cases are still pending in various courts in the zone.

The Area Controller, Comptroller Victor David Dimka, disclosed this while presenting the first half of the year account of the command’s performance.

Dimka listed the con-

traband as including: Vehicles, 990 bales of textiles and second hand clothing, 126 packages of furniture and 296 bales of fairly used bags and suitcases worth N456,704,500; N101,805,700; N19,584,000 and N30,143,400 respectively.

The list also included 3,905 pieces of used tyres amounting to N53,502,100; 2,126 cartons of imported frozen poultry products worth N30,566,804; 1,731 bags of 50 kilogrames rice valued at N35,678,600;

besides beverages and juice worth N72,000.

There was also an additional 2,686 pieces of used footwear estimated at N6,253,800; 37 cartons of foreign soap/ detergents; 202 cartons of foreign vegetable oil amounting to N6,874,020.

Others included electrical and electronics spare parts with used fridges and compressors; and machinery, specially used for concealing the items, worth N303,391,772.

He warned smugglers to either desist from their

illicit trades, move out of the zone, or continue to forfeit their capitals to government.

Dimka explained that the command made a total of 63 seizures with a DPV of N337,368,522.00) in March, which was the highest seizure.

He noted that 25 suspected smugglers were also arrested within the period.

It was revealed that the command, in January, made 37 seizures with a DPV of N176,483,600, raised the seizures to 40 in

February, with a DPV of N136,708,650; and in April, recorded 37 seizures, with a DPV of N83,302,620.

The comptroller attributed the massive seizures made in March to an apparent stronger quest for materialism by the suspects involved in an ever-increasing corruption-prone society.

He expressed genuine concern at the persistent cases of smuggling in the country, despite obvious stiff penalties for those arrested.

While appealing to members of the public for cooperation and support in the onslaught against smuggling, he reiterated that the NCS was better trained, equipped and transformed to meet its challenges.

Dimka commended the Comptroller-General of Customs (CGC), Alhaji Abdullahi Dikko Inde, for his sustained motivation and support to men of the NCS in the discharge of their duties, stressing that these have all the more strengthened their spirit and commitment in the fight against smuggling.

Olomofe’s battering: Truck owners absolve selves

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he Seme Border Truck Owners Association (SBTOA) has exonerated its members from the fracas, which led to the beating of a Nigeria journalist, Mr. Yomi Olomofe, at the border between Nigeria and Republic of Benin.

Olomofe was allegedly beaten by some elements believed to be smugglers, who were not pleased with the method of his journalism at the area.

He was beaten at the premises of the Nigerian Customs Service.

The Patron of the association, Chief Sulaimon Momoh, said that none of his members participated in the unpleasant incidence.

He called on security agencies to thoroughly investigate those involved in the fracas.

Momoh noted that the media reports alleged that the journalist was attacked by suspected smugglers at the border station in other to stop him from writing a story on their illegal activities.

He stressed that Olomofe always introduce himself as a journalist but has never for one day presented any copy of his publication.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

REGULATION Proposed commission will tackle high tariff in the transport sector Stories by Bayo Akomolafe

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he Nigerian Shippers Council (NSC) may transform into the National Transport Commission (NTC), if the Bill seeking its establishment is eventually passed into law by the National Assembly.

The bill for an Act to provide for the establishment of NTC as an independent multimodal economic regulation for the transport industry and for other related matter, is gathering dusts at the National Assembly.

If passed into law, the NTC will regulate the activities of shipping, ports, inland waterways and all forms of transportation services in Nigerian waters The council was appointed by the Federal Government last year as the economic regulator to control tariffs for

Shippers Council may transform to Transport Commission prescribed goods and services supplied in the port industry.

Other responsibilities include economic regulatory framework for the provision of transportation services and facilities, facilitate effective competition, promotion of competitive markets, prevention of misuse of monopoly and protection of the interests of public consumers.

Meanwhile, a maritime lawyer, who craved anonymity, has supported the idea of council transmuting into a commission.

However, he bemoaned the uncoordinated regulatory framework among the Federal Government agencies in the maritime sector.

The legal practitioner urged the National Assembly to pass the bill into law without delay in order to address the conflicts of interest in the maritime industry.

African Shipping Line berths with 900 containers at Tincan Port

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privately-owned shipping line, MNM African Shipping Line, which recently commenced operations, has called at the Nigerian seaport with over 900 twenty equivalent units (TEUs) of containers, including bulk and general cargoes.

The vessel, which was on its maiden voyage to Nigeria from Europe, has Barcelona, Valencia, Sagunto, Tanger, Casablanca, Agadir, Dakar, Lagos, Tema and Abidjan as the designated seaports.

MV SCL Angela vessel berthed at the Terminal ‘C’ of the Tin-Can Island Port, operated by Ports and Cargo Handling Service (PCHS), a subsidiary of Sifax Group. African Shipping Line, has two vessels-Orient Spirit and MV SCL Angela in its fleet.

Meanwhile, Sifax Group recently announced that MNM shipping line appointed two of its subsidiaries - Sifax Shipping Nigeria Limited, and Sifax Ghana Limited as its official agents in both Nigeria and Ghana.

Executive Director, Administration of Sifax Group, Phil Ofule, noted that the shipping line commenced its operations with the target of ensuring that African shippers have regular access to vessels that will meet their demand for efficient shipment of consignments from ports in Europe, especially new market frontiers.

He noted that Sifax has succeeded in changing the face of terminal operations in Nigeria since 2006 when it took over terminal ‘C’ of Tin-Can Island port.

37

“The calling of MNM African Shipping Line will help in reducing the cost of shipping for Nigerian importers due to the direct services it offers from the designated ports in Europe to West African Ports,” said John Jerkins, Managing Director of PCHS. He assured Nigerian importers of efficient services as, according to him, PCHS has the needed cargo handling equipment such as rubber gantry cranes (RTGs) and others to handle the volume of cargoes that will be brought in by the vessel.

Also, Henry Ajor, the General Manager, shipping, who said that the vessel would be coming to the nation’s seaport fortnightly, called on Nigerian shippers to support the shipping line with their consignments, especially the goods originating from the designated ports.

According to him, MNM was perfecting plans to extend its call to new destinations across the world as the business continues to grow.

The Executive Secretary of the Nigerian Shippers Council (NSC), Hassan Bello, commended the efforts of the group in bringing the shipping line into the country.

He said that NSC would support the group in assuring that the vessel’s participation in the nation’s shipping business was successful.

Bello, who was represented

by Celina Ifediora, noted that the coming in of MNM vessels into Nigerian port would help in boosting the nation’s import and export trade.

He noted that the various agencies of government within the country’s transport ministry had a lot of uncoordinated activities.

The lawyer said: “For instance, between the Nigerian Maritime Administration and Safety Agency (NIMASA) and

the Nigerian Ports Authority (NPA), there are conflicts of interest over wreck removal; between NIMASA and the National Inland Waterways Authority (NIWA), there is conflict over who controls the inland waterways. This has affected the industry.”

The lawyer called for the coordination of the regulatory framework in the transportation industry which was possible through the Transport Commission Bill.

He noted that when passed into law, the bill would facilitate healthy competition.

L-R: Managing Director of the Nigerian Ports Authority (NPA), Alhaji Sanusi Lamido Ado Bayero, receiving an appreciation award from Chairman, NIMAREX Planning Committee, Prince Ayorinde Adedoyin, at Eko Hotel in Victoria Island, Lagos.

Maritime education: Academy appeals to govt

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he Lagos Aviation and Maritime Business Academy (LAMBACADY), has appealed to the Federal Government to encourage the development of private maritime institutions in Nigeria.

Its Rector, Dr. Emeka Udow, made the appeal during an interactive session in Lagos.

He commended the efforts of the Nigerian Maritime Administration and Safety Agency (NIMASA) for establishing a training programme for Nigerian youths on seafaring.

Udow said: “But what we

want NIMASA to do is to encourage the development of private institutions in Nigerian and not to encourage training of seafarers and master mariners outside the country.

He said that there were over five maritime training institution in Nigeria good enough for training.

Udow stressed that the private maritime institutions in the country needed the support of the agency to enable them train seafarers.

The rector explained: “What we actually wanted is government intervention, so that we can be able

to upgrade our facilities to international standard.”

He said that the country must improve on the technical skills of its workforce to enable Nigeria to compete with other maritime nations.

Udow said that the country lacks chief seafarers, captains, master mariners, marine engineers and ship builders.

“These are areas that we still lack manpower,” he said.

Udow said that government could assist the private maritime institution through provision of intervention funds and provide subsidy for training vessel.

Shipbrokers seek professionalism in maritime

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he Institute of Chartered Shipbrokers (ICS), West Africa branch, has called for the injection of professionalism into the operations of the maritime industry in the sub-region.

President of the institute, Mr. Fred Asiedu-Dartey, noted that the promotion of professionalism within the shipping industry in Nigeria, Ghana, Cote d’Ivoire and other countries in the sub-region was necessary for the transformation of the sector.

He said: “Anyone who wishes to know the basics

of shipping operations, either from a bank or other financial institutions, legal firms, insurance companies or government organisations must work with professionals in the industry.”

Asiedu-Dartey explained that the ICS was the professional body for members of the commercial shipping industry representing shipbrokers, ship managers, agents and other maritime practitioners.

The president said that the ICS would provide the highest standards of professional service to the ship-

ping industry worldwide through education and West Africa branch also stands to inject global standards into operations in the subregion.

The ICS was founded in 1911 and awarded a Royal Charter in 1920 is headquartered in London.

In 1984, a supplementary Royal Charter was granted and membership was opened to citizens of any country in the world, consequently, the institute now has 25 branches across the globe, which is committed to fulfill its mission.

38

WEDNESday, JULY 15, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

Pupils of the ‘School-Without-Walls’, having their lunch at the Internally Displaced Persons (IDP’s) camp, New Kuchingoro village, Abuja.

PHOTO: NAN

Senator representing Kaduna South, Danjuma La’ah (left), with the Chief Medical Director, Ahmadu Bello University Teaching Hospital, Prof. Lawal Khalid, commiserating with a victim of the Zaria bomb blast, during La’ah’s visit to the hospital in Zaria .

L-R: Oyo State Deputy Governor, Otunba Moses Alake-Adeyemo; Chairman, Governing Council of Ladoke Akintola University of Technology (LAUTECH), Prof. Wale Omole and Vice-Chancellor, Prof. Adeniyi Gbadegesin (sitting), during a courtesy visit in Ibadan.

Deputy Managing Director, Slot Systems, Mrs. Nkechi Ezeigbo (middle), during her birthday held at Little Saints Orphanage Home with friends and family in Lagos.

Photo | News 39

Some children of victims jubilating after the presentation of relief materials by Dangote Foundation in Malkohi IDPS camp, Yola, Adamawa State.

L-R: Senate Leader, Mohammed Ali Ndume; Clerk to the National Assembly, Alhaji Salisu Maikasuwa and Senate President, Dr. Abubakar Bukola Saraki, after a courtesy visit to Saraki at the National Assembly in Abuja.

L-R: A beneficiary of the British American Tobacco Nigeria Foundation (BATNF) rice enterprise development project in Dokko, Niger State, Alhaji M. Fari; Project Manager, Mr. Olusegun Adewole; Area Manager, Mr. Daramola Olayiwola and Director, Niger State Ministry of Agriculture, Alhaji Abdul Ahmed, at the official flag-off of the project in Dokko, Niger State.

L-R: Deputy Corps Marshal, Federal Road Service Corps (FRSC), Adaei Abu; Executive Secretary, Depot and Petroleum Association of Nigeria, Olufemi Adebayo and Corps Marshal, Boboye Oyeyemi, at the FRSC meeting with tank farm owners in finding lasting solutions to clashes in Apapa Wharf, held at Sheraton Hotel, Lagos.

PHOTO: TONY EGUAYE

40 Politics CONTINUED FROM PAGE 17

fruitful and desired results.

According to him, corruption in the country was on a steady rise due to default on the part of government in the payment of wages and pensions, compelling public servants to resort to selfhelp through diversion of funds in the course of discharging their duties.

“With the fight against corruption over the last years, Nigeria is on the right track. The substructures that support corruption need to be addressed first. Public officers have not been paid accumulated pensions in

WEDNESDAY, JUly 15, 2015 NEW TELEGRAPH

Saraki’s sermon on corruption a long while, forcing civil servants in service to resort to corrupt means of seeking self-help,” he noted.

On the commission’s approach to curbing corruption, Nta said: “The ICPC approach to enforcement is simple.

If the commission is investigating any fraud, the primary intent is not to send the suspect to jail but to ensure recovery of looted funds.”

Nta stated that the ICPC had over time as-

sisted the Federal Inland Revenue Service (FIRS) in the recovery of taxes evaded by organisations and individuals. He disclosed that the commission had a competent team of chartered accountant, as well as a working template being developed to clamp down on the crime of tax fraud in the country.

He also assured that the ICPC would always be ready to assist the Senate on issues that affect national inter-

est, pointing out that there was need for a collaboration between the apex legislative Assembly and the anti-graft agency.

Similarly, on Wednesday last week, Saraki also invited the Governor of the Central Bank of Nigeria (CBN) and the bank’s management team to also brief the Senate on its activities, progress and challenges, while assuring the apex bank of the Senate’s willingness to cooper-

ate and support it to be more effective in its operations as a regulatory authority.

During the interactive meeting, Saraki mandated the CBN to recover and return to government coffers the N30 billion waiver granted to rice importers by the immediate past administration. Though it may not be the direct duty of the CBN to carrying out such function, it sent signal that the Senate in the present dispensation

wants a holistic and collaborative approach to governance in order to achieve results.

The President of the Senate also promised that the Red Chamber would prompt the Customs to work with the apex bank to ensure the recovery of the money.

This decision to revisit and reverse some actions of past administrations, considered inimical to the country’s progress is a further proof that the Senate meant to bring change to style of governance.

Saraki also stressed the need for relevant government agencies to do everything within their jurisdiction to plug areas of revenue leakages and ensure that smuggling, which has adversely affected the economy, was stopped.

He assured that the 8th Senate would collaborate with the CBN and other establishments of government in taking actions that would salvage the nation’s economy from its present woes and from drifting into further mess.

Furthermore, the Senate President tasked the apex bank to apply all legal and constitutional instruments at its disposal to ensure that all revenue generating agencies remit their revenues to the Federation Account, and warned that Nigerians must not continue to run the affairs of government with impunity that resulted in the current economic hardship.

Saraki also reiterated the urgent need to diversify the economy through development of non-oil sectors, particularly agriculture, expressing concern that with the prevailing global crash in the price of crude oil, Nigeria could no longer depend on oil as its major revenue source.

He called for synergy among relevant MDAs in the collective aspiration to move the country forward by taking the right actions in running the affairs of government.

Going by what the Senate is doing so far, there is hope that, if the two Chambers of the National Assembly can intensify their oversight functions on the MDAs and ensure that the right things are done at the right time, Nigeria will begin to have reprieve from decades of economic decadence, occasioned by corruption and impunity in governance.

Politics 41

NEW TELEGRAPH WEDNESDAY, JUly 15, 2015

DOMINIC ADEWOLE writes that the actions of Governor Ifeanyi Okowa are against the policies of his predecessor, Dr. Emmanuel Udughan

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ince May 29 when Dr. Ifeanyi Okowa assumed the mantle of leadership in Delta State, he has been acting his script. His actions are in clear antagonism to the former Governor Emmanuel Uduaghan’s policies and programmes.

Barely seven days to his inauguration on May 29, Okowa allegedly masterminded the bolting away of the state’s AccountantGeneral, Mr. Cyril Agbele, who coincidentally is his kinsman.

Agbele’s disappearance frustrated the last-minute calculations of the outgone governor, which forced Uduaghan to lament during the farewell visit of former and present Permanent Secretaries and Heads of Service in the state.

At the event, Uduaghan said that the Accountant-General portrayed his eight-year administration in bad light. He said: “Agbele went into hiding after a fruitful deliberation on arrangements for the inauguration of the new administration. Instead of the Accountant-General to wait and set the record straight, he chose to truncate the prevailing peace in the state. The AccountantGeneral has disappeared in the last five to six days. The truth is that on Thursday we met and I told him we have some payments to make in the areas of the swearing-in coming up. He did not object; he did not say no. On Sunday, I was calling him but he was not picking my calls.

“And of course on Monday his phones have been put off. On Tuesday, he sent in a paper that he was sick. By Wednesday, he sent in a memo and I find this act very inconsistent and irresponsible. If there is something that I am doing that is not right, he should be free to tell me rather than disappearing. I can’t just imagine running the affairs of the state for a week without funds, even security men have started withdrawing from their duty posts across the state.

“You know the security implication of this, particularly when peace and security is a key agenda of my administration and I cannot compromise on it. Is it a conspiracy to grind my administration to a halt or an attempt to set me on a collision course with the incoming administration? I think it is very irresponsible.”

But judging by the upset that trailed the Peoples Democratic Party (PDP) governorship primary election in the state on December 10, 2014 when the former governor sponsored a retired Permanent Secretary, Sir Tony

Okowa

Uduaghan

Okowa: Undoing Uduaghan’s legacy Obuh and later dumped him for Olorogun David Edevbie, a former aide to Chief James Ibori before Okowa emerged as the flag bearer of the party for the April 11 governorship election in the state, and the intrigues that played out thereafter, it was obvious to every discerning mind that Okowa was not going to be Uduaghan’s minion.

The aggression with which the new governor, in a letter with reference number GHA16 Vol. VI/154, dated June 1, addressed to the Head of Service, Mr. Patrick Origho, quashed all the employment carried out by his predecessor in the past three years, also gave credence to this.

The governor was categorical that the recruitment exercise was abysmally done. “It is public knowledge that the process of the recruitment was fraught with sharp practices ranging from abuse of office to sale of job slots and therefore cannot by any stretch of imagination be adjudged credible. No flawed process produces a credible exercise,” he said.

But, those affected, numbering 3,000, in a protest letter, co-signed by the chairman and secretary of the Congress of Newly Employed Civil Servant (CNECS), Delta State Chapter, Regha Obus and Agba Okeme respectively, described the governor’s action as “unjust” and threatened to take lawful steps to challenge the decision if the governor failed to reinstate them.

Despite the threat, Okowa maintained that the recruitment “culminated in the suspension of the chairman and members

It is public knowledge that the process of the recruitment was fraught with sharp practices ranging from abuse of office to sale of job slots

of the state’s Civil Service Commission and the setting up of an Administrative Panel to review the recruitment process.”

The governor has just begun.

He has started revoking contracts awarded between December 31, 2014 and May 29, 2015, by his predecessor. The contracts were allegedly revoked because they were swiftly awarded to make last-minute withdrawal from the state’s coffer, block eight years financial leakages and make his government’s take off, cumbersome.

“The resultant effect was the disappearance of the state’s Accountant-General, Mr. Cyril Agbele, who only resurfaced seven days after, when Governor Uduaghan had handed over to the new governor,” a top government functionary told New Telegraph.

While the source hinted that the governor has pencilled down some other non-performing contracts for repudiation, he revealed how the governor has frozen the inflow of money into the account of the award-winning Delta State Micro-Credit Scheme, established by his predecessor.

The governor, the source said, was equally dissatisfied with the alleged shady deals dotting the bill sponsored by Uduaghan, transforming the scheme from its original name (the Delta State Micro-Credit Scheme) to the Delta State Micro, Small and Medium Enterprises Development Agency, on October 20, 2014.

Okowa has commenced the probe of the programme.

Also, the governor, immediately he assumed office transferred out of his office, the Assistant-

Accountant, Government House, Asaba, Mr. Michael Oghene, who was redeployed by his predecessor to the Governor’s Office. Oghene’s offence was that N200 million belonging to the state was allegedly traced to his private account.

Okowa has equally directed the Secretary to the State Government (SSG), Hon. Festus Ovie Agas, after a private meeting to prepare a memo for the immediate dissolution of the board of the state’s Direct Labour Agency (DLA), headed by Comrade Emmanuel Igbini. Critics said this was done in a desperate move to install one of the governor’s loyalists, Mike Akpobire, a member of the board, as the DirectorGeneral.

The governor, New Telegraph learnt, has decried the N27 billion that has so far been expended on the Asaba Airport project and the choice of the contracting firm handling the unfinished project since 2007.

A month to the expiration of Uduaghan’s administration, the Nigerian Civil Aviation Authority (NCAA) barred all Boeing 737 and jets of similar category from operating on the airport pending when the state government resolves the issues raised against the airport. NCAA permits only Dash 8 – Q 400 planes or their equivalent to operate at the airport.

To address the situation, Uduaghan on May 6 stated that the state had since approved the rehabilitation of the Runway and Taxiways at the airport.

While Okowa has been battling to offset the backlog of salaries and arrears being owned local government workers and members of the Parliamentary Staff Association of Nigeria (PASAN) in the state, many indigenes and residents of the state have continued to read negative meanings to the governor’s actions, and have predicted an imminent clash between him and his predecessor.

42 Politics Chukwu David Abuja

T

he President of the Senate, Senator Bukola Saraki, yesterday clarified his earlier comments on the appointment of Service Chiefs, which had generated controversy in the last 24 hours.

The President of the Senate had while reacting to the appointment of the new Service Chiefs on Monday by President Muhammadu Buhari, reportedly said that the president did not require the approval of the Senate to appoint the Service Chiefs.

Saraki was quoted to have stated in a tweet on his Twitter handle on Monday evening, that it was not the role of the Senate to approve the appointment of Service

WEDNESDAY, JUly 15, 2015 NEW TELEGRAPH

Row over Saraki’s tweet on service chiefs screening Chiefs.

He was reacting to Buhari’s statement on Monday that the newly appointed Service Chiefs would operate in acting capacity until the ratification of their appointments by the Senate.

The tweet reads: “Appointment of service chiefs is an exclusive function of Mr. President. Senate can only approve ministerial, parastatals etc.”

Since then, Nigerians have been reacting to the purported comment because it ran contrary to the pronouncement of a Federal High Court

sitting in Abuja, which on July 1, 2013 ruled that any appointment of Service Chiefs by the president without approval of the National Assembly is unconstitutional and illegal.

Justice Adamu Bello had declared the appointments of the service chiefs without the National Assembly’s approval as null and void because they did not conform with Section 18 (1) and (2) of the Armed Forces Act, Cap. A20, Laws of the Federation.

However, Saraki, while clarifying his comments, claimed that

Lagos Speaker lauds Soyinka at 81 Wale Elegbede

T

he Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has described the Nobel Laureate, Prof. Wole Soyinka, as a role model who inspires people globally.

In a statement issued yesterday to congratulate the Nobel Laureate on his 81st birthday, the Speaker said Soyinka is a gift to Nigeria and Africa.

“Prof. Wole Soyinka is a global figure, someone who inspire people all over the world and we are proud to celebrate him not only as a Nigerian and African icon but also as a global figure who has contributed immensely to the struggle for peace and justice in the world through his writings, comments, speeches and actions,” Obasa said.

The speaker stated that Nigerians and the

C O N T I N U E D F R O M PA G E 1 3

are done with the bomb victims, the strike will continue until our demands are met,” he clarified.

Apart from the Resident Doctors, the Nigerian Medical Association (NMA) also asked all its members in other hospitals to, according to Dr. Ibrahim Mohammed, “take care of the affected victims.” Similarly, NEMA reportedly deployed medical consumables and drugs for the victims. Likewise, some people heeded the agency’s call and donated blood for them.

Expectedly, reactions came thick and fast as the state government, religious bodies and Non Governmental Organisations as well as sundry individuals condemned the attack. In particular, El Rufai described it as “an inhuman act of terror.”

In particular, Kaduna State government had banned street begging and hawking with immediate effect, until the security situation improves. Consequently, “all beggars and hawkers are to stay off the streets until further notice. Any beggar or hawker found on the streets will be arrested, until these measures are relaxed,” elRufai had warned last Tuesday.

In addition, he reiterated the ban on commercial motorcycles in some parts of the state, a policy it inherited from the previous

world over will continue to celebrate the Nobel Laureate because he has made sacrifice and continue to sacrifice his time and God-given talent for peace to reign in the world.

“We pray to God to continue to give Professor Wole Soyinka the strength and good health to continue to inspire the world and promote peace globally. Happy birthday, Kongi,” he said.

he was misrepresented by those reacting to his message, saying that he did not rule out the role of the Senate in appointment of Service Chiefs.

In a statement issued by his Chief Press Secretary, Sanni Onogu, Saraki noted that his comment was without prejudice to extant laws and court pronouncements on the issue, and therefore, assured that the Senate would play its role when the list of the new Service Chiefs was sent to it by Buhari.

The statement reads: “We want to make it abundantly clear that based on inquiries made to the Senate President on whether the Senate was consulted before the appointment of new Service Chiefs was announced, he had in response tweeted that the appointment of Service Chiefs is the exclusive function of the President as stipulated by the Constitution.

“Let it be known that his comment is now being misinterpreted to say the Senate will neither screen nor confirm the new Service Chiefs. This is far from the truth.

Saraki

“For the avoidance of doubt, Saraki has said his comment is without prejudice to extant laws and court pronouncements on the issue and therefore that the Senate will do the needful when the list of the new Service Chiefs is sent to it

by Mr. President.

“Saraki in a new tweet today said: “This

Day el-Rufai broke down administration.

Last Wednesday, a day after the blast, Zaria residents had already put the incident behind them and continued with the hustle and bustle of daily life. In particular, the verification exercise has continued at Z 45, Government Lodge, the second verification centre. However, extra security measures have been taken as everyone is thoroughly searched before entering the venue. Conversely, the Sabon Gari venue has been deserted.

Variously, people kept saying “happy survival” to each other a day after the bombing.

The Emir of Zazzau, Alhaji Shehu Idris, commiserated with his people and warned them against harbouring strangers.

According to him, “strangers that live within our midst should be properly identified. We should also be mindful of the places we visit. This is very important because these people take advantage of our negligence to cause havoc. Zaria is known for peace, and this is the first time that high number of people would die in a single incident in the city. We pray for the repose of the soul of those that lost their lives.”

el-Rufai

Significantly, the last time Zaria witnessed a terrorist attack or bomb explosion was about five years ago. In July

is to clarify the earlier position which was not up to date and does not represent the position of the Senate President on the issue of screening of the newly appointed service chiefs. The Senate will perform its constitutional duty when it receives communication from the president on the appointments.”

2011, a locally made bomb had exploded at the Iyan Juma area of the Zaria city. According to reports, the bomb that was planted at Tudun Masallaci exploded around 6a.m. when two teenagers unknowingly stepped on the explosives but survived the blast.

The believe was that the bomb was hidden in the refuse dump “for safe keeping.”

On June 17, 2012, a twin bomb blast had rocked Zaria, killing worshipers at both ECWA church at Wusasa and Christ the King Cathedral in Sabon Gari.

According to reports, no death was recorded at the scene of the attack but the injured were rushed to hospital.

However, Zaria’s relative peace was shattered last Tuesday and some residents have blamed it on the removal of military checkpoints in the city. The stop and search at checkpoints, according to them, was some kind of deterrence to the terrorists.

Conversely, some argued that the resurgent attacks in Borno, Yobe and Plateau states, as well as Zaria are allegedly being instigated from security circles to justify the return of checkpoints.

Boko Haram has not claimed responsibility but the Zaria attack has its imprimatur. There is still a long road to peace in Nigeria, in spite of the change of government.

Politics 43

NEW TELEGRAPH WEDNESDAY, JUly 15, 2015

Louis Amoke

T

he recent courtesy call by judges of Enugu State on Governor Ifeanyi Ugwuanyi was not only significant but also a memorable outing.

To many, the encounter was a conventional gesture being extended to a new government under a bureaucratic platform with the aim of creating a systematic chain of effective administrative undertakings that would guarantee cordial relationship amongst the three tiers of government.

But to the jurists, it was basically an administrative forum for them to pay their courtesies, congratulate the governor on his “maximum success at the polls” and to pledge their “fidelity and unremitting desire to work in great complementarity” with the state government.

The event also gave both tiers of government, namely the executive and judiciary, the opportunity to interact on the best workable approach to end the six months strike embarked upon by members of the Judiciary Staff Union of Nigeria (JUSUN) in the state in order to move the judiciary and the state forward.

The judges of the High Court and the Customary Court of Appeal, led by the Chief Judge, Justice Innocent Umezulike, in an ambiance of a desire to reposition the legal institution, equally used the forum to drive home their demands as it affects their operations, proficiency and commitment to effective justice delivery in the state.

While enumerating the importance of the judiciary as a “crucial component of constitutional democracy,” the Chief Judge in his remarks expressed the confidence of the state judges in the governor’s commitment to preserve and nurture the ideals of the judiciary in the state, stressing that “every effort ought to be exerted to sustain it for generations yet unborn.”

On the closure of the courts in the state as a result of the industrial action by JUSUN, the judges who expressed concern over what they described as the unimaginable socio-legal damage of the closure of the courts to the society, pleaded with the governor to dialogue with the leadership of the judiciary workers in a “patiently, friendly and brotherly manner,” with a view to explaining to them the financial predicaments of the government to meet up with their demands.

It was at this point that the governor opened the hornet’s nest and let the cat out of the bag. He informed the judges that he had already set machinery in motion to end the strike, assuring them of his absolute commitment to ensure that the workers call off the strike at the end of the on-going dialogue.

According to the governor, “I am aware that for some time now, the courts in our state have been closed due to the industrial action of judicial staff. I am understandably saddened to inherit this problem. I am, however, determined to vigorously engage the judicial staff unions to see that we resolve all the outstanding issues preventing an early resumption of the courts.

How Ugwuanyi’s intervention ended judiciary workers’ strike

Governor Ifeanyi Ugwuanyi (5th left) with the Enugu State judges who paid him a visit at the Government House, Enugu.

“It is impossible to run a democratic system under one constitution in which one arm of the government is completely shut down. We do not want to imagine the many criminals who are escaping the full weight of the law due to this state of affairs. We cannot imagine the volume of business transactions waiting to be consummated because the courts are closed. We cannot imagine the loss of revenue occasioned by fees, duties, fines and taxes lost by the closure of our courts. No sensible government will allow this situation to go on indefinitely.

“What, however, puzzles me is how we can run a federation in which the independent federating units are compelled to pay the same wages notwithstanding their revenue differentials.

“Enugu State is among the states from the bottom of the ladder in the amount of revenue collected by the states from the federally distributed revenue. This places us in a very difficult situation in meeting some of the demands from our public servants. I am, nonetheless, conscious of the necessity to ensure that those who work in the judiciary are reasonably well paid and comfortable in order to insulate them from the temptation of compromising their sensitive positions. In this circumstance, I will plead with you to urge your staff to be openminded in the serious discussions we shall engage them shortly.

“I had earlier agreed to dialogue with the union to reconcile all the differences so that they will call off the strike. Actually, I invited the chairman of the union today, but I decided to meet with you first before I meet with him.”

Consequently, the efforts made by the governor in this regard paid off on Wednesday July 8, after he engaged the leadership of the union in four hours of fruitful discussions, at the Government House, Enugu, following which the chairman of the union, Comrade Chinedu Mba, called on all members to resume work on Thursday, July 9.

Mba, who confirmed that the

It is impossible to run a democratic system... in which one arm of the government is completely shut down

decision has the endorsement of its national body, equally commended the governor for his visionary leadership and efforts to ensure that the industrial action was called off in the overall interest of the state.

According to the chairman, “the strike action embarked by the Judiciary Staff Union Enugu State is hereby suspended. I am calling on workers to resume work immediately.”

On the appointment of judges in the state, which the Chief Judge disclosed, has been denied the state three times in the past due to “the nebulous excuse that the judicial performance of judges of Enugu State was low” and a petition written by a group known as Human Rights Initiative Based (HRIB), over the alleged lopsidedness in the appointment of judges in Enugu, Ugwuanyi as a man who believes strongly in the principles of justice, equity and fairness, frowned at the development which he insisted flouted section 14 (4) of the 1999 Constitution (as amended).

While assuring the delegation of his resolve to intervene in the petition by the human rights group, which Enugu Chief Judge said poses a threat to the state’s recommendation of 10 candidates to the National Judicial Council (NJC) for appointment as judges, the governor nonetheless urged that such development should not occur in future appointments.

According to him, “My lords, I have studied the recruitments of all cadres of staff in the Enugu State Judiciary and urge that future appointments should comply with section 14 (4) of the Nigerian Constitution.”

Shedding more light on the disparity in the appointment of judges in the state, the governor said: “I know, for instance, that since Justice Stanley Nnaji was dismissed from the judiciary 10 years ago, there is no judge from Isi-Uzo Local Government Area. I know that since Hon. Justice C. C. Nweze, JSC, left the state judiciary in 2007, there is no judge from Udenu Local Government Area.

I know that Igbo Etiti Local Government Area has only one judge, while since Hon. Justice Agbata retired, Uzo Uwani has no judge in the state judiciary.

“Recommendations for appointment of new judges should consider these situations bearing in mind that there are qualified lawyers from these areas. In the magistracy, the story is not different.”

The governor also urged members of the judiciary in the state to distinguish themselves creditably in service, as he added: “I am proud and happy that this state boasts a long tradition of judicial erudition and scholarship dating back to the days of Justice C. D. Onyeama, Justice Anthony Aniagolu, Justice Nnaemeka Agu and Justice Augustine Nnamani.

“Quite recently, the late Justice Regina Nwodo and Hon. Justice C. C. Nweze, JSC were promoted to the Court of Appeal and Supreme Court respectively on account of their productivity and scholarly contributions, outpacing their contemporaries in their upward mobility.

“I see many of you with the potential to outperform these judges.

I, therefore, urge you to redouble your efforts to distinguish Enugu State Judiciary as one place that you can access true and speedy justice.”

As it is, Governor Ugwuanyi had assured the judiciary of a genuine partnership of noninterference in its exclusive responsibilities so long as they are in line with the law. He is poised to maintain a track record of an all-embracing leadership that will engender rapid growth and development in all strata of government under an atmosphere of peace and harmony.

With his positive intervention, which has ended the six months strike by the judiciary workers in the state, it is worthy of note that he has kept faith with his promise to support the reform of the justice sector.

•Amoke is a Senior Special Assistant to the Enugu State Governor on Media

44

Business | Money Line

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Iran deal dims prospects for naira

Bleak

Oil accounts for over 80 per cent of export earnings

nuclear agreement with the United States and its negotiating powers, analysts have said.

According to them, the deal has once again put oil prices under pressure thereby putting further strain on the Central Bank of Nigeria’s (CBN)

Tony Chukwunyem

P

rospects of the naira strengthening in the short term have been dimmed by Iran’s

M

ability to defend the naira.

With oil accounting for over 80 per cent of the country’s export earnings, experts note that the price of the commodity in the international market will prove critical in determining whether the apex bank would prevail

in its current battle to stabilise the exchange rate.

After a brief recovery from the 50 per cent plunge late last year and early this year, oil prices have started to fall. Iran’s oil exports halved after the United States and the European Union (EU)

Moody’s Declares Sterling Bank Stable, Assigns B2 Rating

oody’s Investors Service, an accomplished and highly respected international ratings agency has further confirmed the resilience of Sterling Bank in Nigeria’s competitive banking sector by assigning a Local and Foreign Currency Issuer and Deposit Ratings of B2 with stable outlook.

The Agency in a release made available to newsmen in Lagos, described Sterling Bank as a stable financial institution with solid quality assets, robust Information Technology and strong risk management systems. The Agency also assigned a Counterparty Risk Assessment (CRA) of B1(cr)/Not Prime(cr) to the Bank and declared all ratings of the Bank stable.

While Nigeria’s economy features some institutional and structural weaknesses that can pose challenges to the banks,

Sterling Bank, according to Moody’s has also shown strong resilience to shocks and it presents sizable growth opportunities, which will allow the bank to expand steadily.

The Agency noted that its Baseline Credit Assessment (BCA) also reflects the bank’s solid liability profile. “The Bank is predominantly deposit funded with a low reliance on more sensitive market funds.

Deposits make up 89% of the Bank’s funding sources compared with an average of around 65% for the system” the Agency stated. BCAs are the measure of an issuer’s standalone financial strength that describe the probability of a bank defaulting on

any of its rated instruments, in the absence of external support.

Moody’s ratings also incorporate one-notch uplift from Sterling’s b3 BCA, based on their “assessment of a moderate likelihood of government support in the event of need. Furthermore, provision coverage is good, with loan loss reserves amounting to 98% of doubtful credit”.

The Agency explained further: “The B2/Not Prime Local and Foreign Currency issuer and deposit ratings are underpinned by a b3 Baseline Credit Assessment (BCA). Sterling Bank’s b3 BCA reflects the Bank’s solid asset quality metrics and provision coverage; improve-

ments to the bank’s IT infrastructure and risk management processes; and high liquidity buffers and a solid deposit funding base”.

Moody’s explained further in the statement that “an important factor driving Moody’s view of Sterling’s stand-alone assessment is the Bank’s asset quality. Non-performing loan (NPL) levels are currently low and compare favourably against domestic and global peers. NPLs stood at 2.7% as of year-end 2014 according to our adjusted ratio, which takes into account not only individually impaired loans but also loans that are overdue for more than 90 days but not reported as impaired -- as we do for other banks”.

Economic Indicators N19,142,526.05m N18,579,219.49m 9.2 13 10.77 US$57.57 US$29,955,854,769

Mar, 2015 Mar, 2015 June, 2015 4/6/2015 Mar 2015 14/7/2015 13/7/2015

S

Source:CBN

Description 13.05 16-AUG-2016 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 10.00 23-JUL-2030

TTM

FGN Bonds

Price 1.09 1.79 3.96 4.58 6.54 8.67 15.03

Bid Yield

98.22 100.14 102.15 100.70 104.42 95.13 68.00

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 13.4167 14.4104 16.1431 16.7070

14.84 14.96 15.25 15.31 15.29 15.22 15.56 Change (%) -1.33▼ 0.25▲ 0.23▲ 0.01▲

Change (%) 0.35▲ 0.17▲ 0.13▲ 0.26▲ 0.22▲ 0.18▲ 0.00 ↔

Price 98.37 100.29 102.45 101.00 104.72 95.43 68.30

Tenor (Months)

Offer Yield 14.68 14.87 15.15 15.22 15.22 15.15 15.49

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 11.2302 12.4884 13.7094 14.1043 14.7613 14.8947

Spot($/N)

FX

Offer 198.04

Change (%) 0.21 ▲

NIFEX

Spot($/N)

Bid 198.9500

CBN Clearing Rates of July 14, 2015 Spot($/N)

195.95

Change (%) 0.35▲ 0.17▲ 0.13▲ 0.26▲ 0.22▲ 0.18▲ 0.00 ↔ Change (%) 1.32 ▲ -0.46▼ -0.07▼ -0.04▼ 0.18▲ 0.14▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 13.28 13.75 0.28 ▲ Open-Buy-Back (OBB) 12.00 15-Oct-15 13.53 14.01 0.28 ▲ 13.56 14.55 0.23 ▲ Overnight (O/N) 12.50 14-Jan-16 13.81 14.84 0.23 ▲ 12.39 13.92 -0.26▼ 02-Jun-16 12.64 14.24 -0.26▼ Bid 197.94

196.95

be under pressure and the CBN would not be able to use it to meet demand for foreign exchange.”

It would be recalled that the CBN began its current battle to check foreign exchange arbitrage and speculation following the sharp drop in the price of oil in the second half of last year.

However, the series of forex measures introduced by the regulator have not stopped the naira’s drift on the parallel market.

On Monday, the naira hit another record low of N241 to the dollar on the parallel market. It weakened by 1.0 per dollar as importers banned from accessing hard currency at the official interbank market by the CBN three weeks ago scrambled for hard currency in the unofficial market.

The CBN spokesman, Ibrahim Muazu, said last week that the regulator would not be focusing on the thinly-traded parallel market when determining the exchange rate, adding that people preferred to use the unofficial market for undocumented transactions.

Muazu said the official interbank market had the capacity to handle legitimate dollar transactions but that people preferred to use the unofficial parallel market for undocumented transactions.

Skye Bank pledges support for customers’ businesses

As at M2* CPS* INF MPR 91-day NTB Bonny Light Ext Res**

imposed sanctions on the country in 2012 over its nuclear programme.

Following the deal with the Western powers, the expectation is that the sanctions will be lifted and Iran would return to a global market that is already over-supplied.

Indeed, a few hours after the deal was announced, Brent crude price fell to $1.15 to $56.70 a barrel, while US crude fell $1.05 to $51.15.

Iran could increase its oil exports by up to 60 per cent within a year, according to a survey of 25 oil analysts questioned by the Reuters news agency.

Twelve of those polled believe Iran could raise oil output by up to 250,000 barrels per day in the first six months, while eight others predicted it could increase by as much as 500,000 barrels.

Experts predict that even a modest initial increase in output will pull international oil prices down further as the market is already producing around 2.5 million barrels per day above demand.

A Senior Financial Analyst at Fairbet Associates, Mr. Ben Omorogbe, said, “Although it was predicted by some analysts, the news of the Iran deal has come at bad time for the CBN. This is because with low oil prices, the external reserves will continue to

0.00 ↔

Offer 199.0500

Change (%) -0.04▼ 0.00 ↔

Change (%) 0.00↔

kye Bank Plc has restated its determination to meet the needs of its customers and help them realize their business objectives and dreams.

The bank’s Executive Director, corporate Services, Mrs Abimbola Izu, stated this while explaining the rationale behind the bank’s new television and radio advertising campaigns which are enjoying airtime at the moment.

Speaking on the campaign tagged, ‘The Skye is big enough’ in Lagos, Izu, said the Skye was big enough for anything that individuals and customers have passion for and anything the customers dream about to do.

“We are not only saying we are big enough in terms of size, but we are big enough in terms of skills, technology, sound corporate governance structure, system, policy, risk management principles in place, knowledgeable and dynamic management that we have.

“Whatever it is that you want to do, we are big enough to help you do it.

Our staffs are commit-

ted, loyal, dedicated and ready to help you. We have smart ideas, smart technology, smart people to help you’, she said.

The bank director said the financial institution chose to profile some successful Nigerians with humble beginnings in the television commercials and radio jingles in order to inspire other Nigerians who have some smart ideas and passion for a cause not to give up until they achieve their objectives.

Izu said their stories were similar to the bank’s story in 2006 shortly after the birth of Skye Bank when the bank was unknown, being a product of a merger of five banks.

She said the name Skye was new to the banking public but the management quickly began a brand identity building project which thrust it into the limelight.

She encouraged people with humble beginnings not to be ashamed but to strive to be successful, saying ‘we will be patient with you, stand by you because we are a product of small beginning.

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

FMDQ Daily Quotations List

45

14-Jul-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

NA

NA

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

Issue Date

Coupon (%)

Outstanding Value (N'bn)

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

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

581.39 480.13 20.00 100.00 300.00 351.30 233.90 233.73 605.31 599.99 75.00 150.00 200.00 591.57 324.50

TOTAL OUTSTANDING VALUE

4,846.82

TOTAL MARKET CAPITALISATION

4,386.90

Rating/Agency

Issuer

Description

Maturity Date

TTM (Yrs)

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

1.09 1.79 2.04 2.13 2.88 3.96 4.28 4.58 6.54 8.67 13.38 13.86 14.35 15.03 19.01

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

14.84 14.96 15.03 15.04 15.15 15.25 15.35 15.31 15.29 15.22 15.81 15.89 15.97 15.56 15.32

14.68 14.87 14.93 14.95 15.08 15.15 15.24 15.22 15.22 15.15 15.75 15.82 15.89 15.49 15.26

98.22 100.14 91.19 89.91 89.89 102.15 74.46 100.70 104.42 95.13 95.50 81.14 58.35 68.00 80.57

98.37 100.29 91.34 90.06 90.04 102.45 74.76 101.00 104.72 95.43 95.80 81.44 58.65 68.30 80.87

#

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

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

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.97 1.40 1.77 1.98

2.94 1.00 2.66 3.13

17.38 15.83 17.64 18.15

99.89 100.15 102.12 97.70

Agency Bonds FMBN ***LCRM

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

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

298.63

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.13

4.44

17.47

99.28

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.21

3.23

17.09

99.09

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.71

4.46

19.11

96.74

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.72

3.48

18.13

98.28

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.77

1.00

15.98

91.06

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.25

1.00

15.68

97.90

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.47

1.79

16.88

94.37

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.85

1.00

16.00

96.96

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.86

1.00

16.00

96.92

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

2.04

1.00

16.03

97.46

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

2.05

4.78

19.81

90.91

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.03

1.00

16.03

99.11

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

*GOMBE LAGOS

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

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

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

15.50 14.50 14.75

15.09 80.00 24.74

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

2.47 4.36 2.53

2.02 1.00 1.00

17.11 16.36 16.10

96.91 94.29 97.35

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

3.07

1.82

17.00

94.96

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.37

1.00

16.37

89.95

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.47

1.00

16.37

95.17

‡ /Agusto A-/GCR

*EKITI *NASARAWA

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

31-Dec-13

14.50

4.30

31-Dec-20

3.31

1.00

16.21

95.91

06-Jan-14

15.00

4.31

06-Jan-21

3.34

1.00

16.22

97.08

99.64

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

440.27 414.93

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.09

1.00

13.67

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.40

1.00

15.60

98.61

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.48

2.63

17.42

98.41

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.21

1.00

15.63

97.14

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.28

1.34

16.05

97.92

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.21

1.00

16.05

94.44

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.45

1.88

16.76

102.22

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.49

1.00

15.93

100.04

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.66

1.00

15.96

102.68

#

99.99

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.66

1.00

15.96

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.21

3.00

18.20

90.04

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.76

2.29

17.27

97.76

BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

17-Feb-19

1.84

6.11

21.11

95.72

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.47

2.16

17.25

97.54

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.34

2.76

18.13

90.34

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.35

1.80

17.15

88.99

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.46

1.00

16.34

100.40

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

9.21

1.00

16.26

100.06

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.21

1.00

16.26

85.81

TOTAL OUTSTANDING VALUE

177.87

TOTAL MARKET CAPITALISATION

167.36

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.58

1.00

16.10

87.91

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.80

1.00

16.29

86.36

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.73

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

6.14

5.92

102.81

103.89

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.20

4.85

99.80

100.76

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.44

6.27

99.62

100.64

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

1,511.13

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.94

5.94

101.25

101.25

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.52

7.52

99.50

99.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

11.43

10.19

89.29

92.06

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.73

7.17

95.03

96.59

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.80

7.80

95.00

95.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

10.15

9.65

95.59

97.15

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

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

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

8.25 9.25 8.00

300.00 400.00 450.00

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

9.38 10.60 9.79

9.38 10.31 9.79

94.88 94.40 91.25

94.88 95.62 91.25

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.59

10.08

91.13

93.25

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,469.30

**Treasury Bills^ DTM 9 16 23 30 44 51 58 72

FIXINGS Maturity 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15

Bid Discount (%) 9.43 10.35 12.20 12.10 11.32 12.18 12.56 12.81

Offer Discount (%) 9.18 10.10 11.95 11.85 11.07 11.93 12.31 12.56

Bid Yield (%) 9.45 10.39 12.29 12.22 11.47 12.39 12.81 13.14

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 13.4167 14.4104 16.1431 16.7070

Rate (%)

OBB

12.00

O/N

12.50

Tenor Call 1M

REPO

Rate (%) 11.75 12.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

197.94 199.17 199.51 200.29 201.59 204.54

198.04 199.52 199.89 200.74 202.51 205.89

^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

23-Jul-10 18-Jul-14

10.00 12.1493

591.57 324.50

TOTAL OUTSTANDING VALUE

4,846.82

TOTAL MARKET CAPITALISATION

4,386.90

Rating/Agency

Description

Issuer

23-Jul-30 18-Jul-34

15.03 19.01

15.56 15.32

15.49 15.26

68.00 80.57

68.30 80.87

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

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

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.97 1.40 1.77 1.98

Agency Bonds FMBN

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

Business | Financial Market News

46

***LCRM

TOTAL OUTSTANDING VALUE

Stock market down by N87bn Sub-National Bonds

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

19-Apr-10 federal ministers, falling 10.00 LAGOS 19-APR-2017 sector of the financial

10.00 57.00 only eight stocks appreci21.24 ated 13.75 in stocks while 36 14.00 25.00 others dropped in 30.81 price.

14.00 14.00 Oil Plc topped 9.00 the Mobil 14.50 12.40 day’s gainers’ table with five 14.00 9.21 per cent N154.35 15.50to close at 27.00 15.50 15.09 per share while Caverton 14.50 80.00 Plc followed with 3.94 14.75 24.74 per 14.75 10.46 per cent to close at N3.69 share13.50 and ETI Plc87.50 with a 15.00 5.00 gain of14.50 2.69 per cent to 4.30close 15.00 at N21.00 per share. 4.31 440.27 On the flip side, Learn 414.93 Africa Plc and Transcorp Plc led the losers with a 10.00 2.50 drop of 8.80 per cent each 12.00 9.38 to close at N1.14 and0.22N2.28 14.00 13.00 15.00 per share respectively , 14.25 5.53 while13.00 Presco Plc and 20.00 Dangote 18.00 Flour Plc 0.56shed 16.00cent each to 5.40close five per 18.00 2.54 at N32.30 and N3.23 per 16.00 0.70 share14.00 respectively.35.00

NEGATIVE 30-Jun-10 13.75 BAYELSA 30-JUN-2017 ‡ /Agusto *BAYELSA the oil price and dwindling services sector was 30-Dec-10 14.00 EDO 31-DEC-2017 ‡ /Agusto EDO Equities fall on the 30-Sep-11 14.00 DELTA 30-SEP-2018 most active during ‡ /Agusto; A+/GCR *DELTA naira.

14.00 NIGER Bb-/Agusto; A-/GCR NIGER turnConsequently , theII 4-OCT-2018 All- day (measured by 04-Oct-11 shares of blue chip *EKITI 09-Dec-11 ‡ /Agusto; A-/GCR† 14.50 EKITI 09-DEC-2018 Share Index shed 255.3 baover volume), with 175.6 12-Dec-13 Bb-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 companies sis points or15.50 0.8ONDO per14-FEB-2019 cent million shares worth N2.5 14-Feb-12 ‡ /Agusto; A-/GCR *ONDO LAGOS

15.50 GOMBE 02-OCT-2019billion exchanged 02-Oct-12 to close at 31,372.90 index by in14.50 LAGOS 22-NOV-2019 22-Nov-12 points as against 32,628.20 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 vestors in 1,408 deals.

10-Oct-13 BBB-/Agusto *OSUN OSUN II 10-OCT-2020 Stories

by Chris Ugwu Volume in the sub-secrecorded the 14.75 previous day 27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS 27-NOV-2020 by while market capitalisa- tor was largely driven 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 of tion of equities depreci31-Dec-13 ‡ /Agustorading activities *EKITI 14.50 EKITI II 31-DEC-2020 activities in the shares 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 on the floor of the ated by N87 billion or 0.8 Zenith Bank Plc and AcTOTAL OUTSTANDING VALUE Nigerian Stock Ex- per cent to close lower at cess Bank Plc. TOTAL MARKET CAPITALISATION change yesterday N10.714 trillion as against Also, other financial Corporate Bonds continued on the down- N10.801 trillion as market services sub- sector, 10.00 UPDC 17-AUG-2015 17-Aug-10 BBB+/Agusto *UPDC in ward trend leading to*FLOURMILLS a sentiments remained on boosted by activities 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 further the red territory . the shares of FBNH Plc, 14.00 CHELLARAMS 06-JAN-2016 BB/GCR loss of N87 billion.

06-Jan-11 *CHELLARAMS 13.00 29-SEP-2016 followed with a turnover A+/Agusto; 29-Sep-11 NAHCO MarketA-/GCR watchers beMeanwhile, aNAHCO turnover 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH lieve the stock market of 277.09 million shares of 27.4 million shares 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA will witness continuous worth N4.4 billion in 3,643 valued at N140.1 million 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING MPR+7.00 DANA 9-APR-2018 09-Apr-11 Nil volatility of equities *DANA as deals was recorded in the in 597 deals.

MPR+7.00 TOWER 9-SEP-2018 09-Sep-11 A-/DataPro†; B+/GCR *TOWER concerns are linked to *TOWER de- day’s trading.

Further analysis09-Sep-11 of the MPR+5.25 TOWER 9-SEP-2018 AAA/DataPro†; A/GCR layA+/Agusto; in the A/GCR appointmentUBA of The banking services that 14.00 UBA II 30-SEP-2018 day’s trading showed 30-Sep-11 *GOMBE LAGOS

T

#{r}

#

#

BBB+/Agusto; BBB+/GCR BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

Stanbic IBTC targets N20.4bn rights issue #{r}

Nil

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

STANBIC IBTC

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

30-Sep-14

16.29

0.10

23-Jul-14

8.00

450.00

14-Aug-14

8.75

250.00

BBB/GCR A/GCR A/GCR

S

99.89

102.12 97.70

United Capital records 13% growth in H1 profit

298.63

A/Agusto

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

17.38

17.64 18.15

297.52

TOTAL MARKET CAPITALISATION

A+/Agusto; ‡ /GCR

2.94

2.66 3.13

1.00 JULY 15, 2015 15.83 NEW TELEGRAPH 100.15 WEDNESDAY,

tanbic IBTC PlcSTANBIC aimsIBTCto 2015. 13.25 STANBIC IB 30-SEP-2024 TOTAL OUTSTANDING VALUEbillion carry out a N20.4 According to a notice from TOTAL MARKET CAPITALISATION ($102.6 million) rights issue the Nigerian Stock Exchange this year and Bond seek shareholders’ (NSE), the statement of finanSupranational vote to distribute a scrip divi- cial position as at the period 10.20 IFC 11-FEB-2018 AAA/S&P IFC AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P AfDBbase. under11.25 review showed profit dend to boost its capital TOTAL OUTSTANDING VALUE News, after tax profit declined to According to Reuters MARKET CAPITALISATION theTOTAL bank’s Chief Executive, Sola N9.695 billion in 2015 as against David-Borha, said she expected N16.184 billion recorded a year Description Rating/Agency Issuer increased regulatory pressure earlier, indicating a drop of 40 FGN Eurobonds to weigh on industry profits this per cent. year andB+/S&P that the bank had reHowever, gross earnings 6.75 JAN 28, 2021 BB-/Fitch; vised its 2015 loan growth down rose by 11 per cent to N68.295 BB-/Fitch; FGN 5.13 JUL 12, 2018 BB-/S&P to 10 per cent, the lower end of billion during the six-month BB-/Fitch; 12, 2023 its BB-/S&P guidance range. period to June 6.38 30,JULas against The lender N61.715 billion in 2014.

TOTALmid-tier OUTSTANDING VALUEsaid its South parent bank, The bank cut its interim divTOTALAfrican MARKET CAPITALISATION Standard Bank, was supportive idend to 0.90 naira per share, Corporate Eurobonds of B+/Fitch; the cash call and that a price from 1.10 naira 7.50 last year.

MAY 19, 2016 B+/S&P GTBANK PLC I forB+/S&P the share sale would be set Following the approval of 7.25 JUL 25, 2017 ACCESS BANK PLC after regulatory approvals and Quota6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY had BANK PLC FMDQ Bond Listing NOV 08, 2018 and B+/Fitch; B+/S&P GTBANK PLC been received. tion Rules by the6.00 Securities 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC Stanbic IBTC posted 40 per Exchange Commission (SEC), 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC cent drop in profit after tax for FMDQ OTC Plc (FMDQ) had re8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 9.25/6M JUN 24, 2021 theB-/Fitch; first-half ended ACCESS JuneBANK 30,PLC IIcently listed onUSD its LIBOR+7.677 platform StanB/S&P A/GCR

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

TOTAL OUTSTANDING VALUE

4.44

17.47

99.28

0.21

3.23

17.09

99.09

30-Jun-16

0.71

4.46

19.11

96.74

30-Jun-16

0.72

3.48

18.13

98.28

19-Apr-17

1.77

1.00

15.98

91.06

U

1.25 1.00 15.68 97.90 nited Capital Plc the company also served 2.47 1.79 16.88 94.37 (formerly UBA as Issuing House and Un1.85 1.00 16.00 96.96 04-Oct-18Capital1.86 1.00 16.00 96.92 Plc) has derwriter.

09-Dec-18 2.04 1.00 16.03 97.46 posted 13 per cent in“Based on these re12-Dec-18 2.05 4.78 19.81 90.91 crease in net earnings sults, it is evident that 14-Feb-19 2.03 1.00 16.03 99.11 02-Oct-19 2.47 2.02 17.11Capital 96.91 United is well for the half year ended 22-Nov-19 4.36 1.00 16.36 94.29 June 30, 2015. positioned to further en12-Dec-19 2.53 1.00 16.10 97.35 10-Oct-20 3.07 the Ni1.82 94.96 In a filing with hance17.00its performance 27-Nov-20 1.00 16.37 as it transits to89.95 Q3. The gerian Stock 5.37 Exchange, 31-Dec-20 5.47 1.00 16.37 95.17 continued competitive the group’s profit after 31-Dec-20 3.31 1.00 16.21 95.91 06-Jan-21 3.34 1.00 16.22 97.08 tax grew to N1.408 billion returns to its shareholdfrom N1.245 billion in the ers have consistently same period of last year, improved the company’s indicating a growth of performance across all 17-Aug-15 1.00 of its13.67 strategic 99.64 business 13.09 per cent. 0.09 09-Dec-15 0.40 1.00 15.60 98.61 Profit before units,” she said.98.41 06-Jan-16 0.48tax grew 2.63 17.42 29-Sep-16 1.21 1.00 15.63 97.14 by 20 per cent from N 1.50 United Capital had 25-Oct-16 1.28 1.34 16.05 97.92 billion in H1 2014 to N 1.79 posted 4.5 per cent growth 30-Sep-17 2.21 1.00 16.05 94.44 billion in net16.76 earnings during the 30-Nov-17 in H1 2015.

1.45 1.88 102.22 09-Apr-18 1.49 1.00 15.93 year ended 100.04 Its gross earnings rose financial De09-Sep-18 1.66 1.00 15.96 to09-Sep-18 N2.750 billion, comcember 31, 2014.102.68 1.66 1.00 15.96 99.99 pared The18.20 group’s profit 30-Sep-18 to N2.258 3.21 billion 3.00 90.04 after 18-Oct-18 1.76 2.29 17.27 to N1.846 97.76billion last year, representing a tax grew 17-Feb-19 1.84 6.11 21.11 95.72 billion in the growth of 21.782.47per cent.2.16 from N1.763 01-Apr-19 17.25 97.54 Commenting on the same period of last year, 14-Nov-20 5.34 2.76 18.13 90.34 20-Nov-21 the Group 6.35 17.15 88.99 of 4.5 results, Chief1.80 indicating a growth 30-Dec-21 6.46 1.00 16.34 100.40 Executive Officer, Mrs. per cent.

30-Sep-24 9.21 1.00 16.26 100.06 Its gross earnings rose Oluwatoyin Sanni, said: 30-Sep-24 9.21 1.00 16.26 85.81 “Our strong start in Q1 to N4.676 billion, comhas propelled the suc- pared to N4.573 billion cess of our business this last year, representing a year. growth of 2.2 per cent.

11-Feb-18 Despite 2.58 several 1.00 16.10 87.91 01-Feb-21 3.80 market, 1.00 86.36 challenges in the In 16.29 a bid to help proUnited Capital has man- mote and facilitate investaged to exhibit sustained ment in the country, the growth for H1.

We believe company hadOffer last year Maturity Date Bid Yield (%) Offer Yield (%) Bid Price Price this upward growth will unveiled an online trad& Yields continue through Q3 andPrices ing platform.

Q4.

We look forward to The platform tagged 28-Jan-21 6.14 5.92 102.81 103.89 continued delivery of su- INVESTNOW.NG is the 12-Jul-18 5.20 4.85 99.80 100.76 perior service across all country’s first online 6.44 6.27 99.62 platform 100.64 with trading of12-Jul-23 our businesses for the second half of the year.” real time investment acShe noted that some count funding functionalof the key transactions ity that will enable invesin19-May-16 H1 that led to the comtors fund their investment 5.94 5.94 101.25 101.25 pany’s profitable margins accounts directly and in25-Jul-17 7.52 7.52 99.50 99.50 include State bond, , without92.06 the need 02-May-18 Benue11.43 10.19 stantly 89.29 08-Nov-18 the company 7.73 7.17 95.03 where was to go through an96.59 account 22-Apr-19 7.80 7.80 95.00 95.00 the lead Issuing House officer in the option of 21-May-19 10.15 9.65 95.59 97.15 a client-company funds and Underwriter and Fi07-Aug-20 9.38 9.38 94.88 94.88 delity which 24-Jun-21Bank bond 10.60 10.31 lodgment.

94.40 95.62 30-Jun-17

30-Sep-18

4.50

23-Jul-21

9.79

9.79

91.25

91.25

14-Aug-21

10.59

10.08

91.13

93.25

3,650.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

0.13

30-Sep-15

31-Dec-17

bic IBTC N15.540 billion 30-Sep-14 13.25 bond.

15.44 The listed bond is Series 1 177.87 (Tranches A & B) 10-Year Sub- 167.36 ordinated Notes under a N150 billion, Structured10.20 Note Pro- 12.00 11-Feb-13 10-Jul-14 11.25 12.95 gramme due in 2024.

The bond was the second 24.95 corporate bond to be admitted 21.73 on theIssue FMDQ platform and the Outstanding Value Date Coupon (%) second of its kind on a fixed in- ($mm) come OTC in Africa.

Listing on the NSE 07-Oct-11 6.75provides 500.00 opportunity for retail investors 12-Jul-13 5.13 500.00 to take advantage of the fixed 6.38 return12-Jul-13 on the investment grade 500.00 Notes, through the primary1,500.00 market whilst listing on the1,511.13 FMDQ will provide a secondary market platform for insti- 500.00 19-May-11 7.50 tutional and foreign7.25investors 350.00 25-Jul-12 to trade the bond. 6.88 09-May-13 300.00 08-Nov-13 6.00 the pio- 400.00 This is coming after 22-Apr-14 6.25 neer listing of the N30.5 billon 500.00 21-May-14 8.75 200.00 United Bank for Africa bond 300.00 07-Aug-13 8.25 earlier in the year. 9.25 24-Jun-14 400.00

8.75 AUG 14, 2021

31-Aug-15

14-Jul-15

3,469.30

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^ Money Market professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS FIXINGS IS” and on an “AS AVAILABLE” basis and may not be accurate or up Exchange to date. We do &not guarantee Foreign (Spot Forwards) Bid Discount (%) Offer Discount Bid Yield (%) Tenor (%)of the Information. the accuracy,DTM timeliness, completeness,Maturity 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 theRate basis NIBOR

9 16 23 FGN Bonds 30 44 51 Rating/Agency 58 72 79 93 107 121 135 142 149 156 NA 163 177 184 191 198 205 212 219 226 TOTAL OUTSTANDING VALUE 233 247 TOTAL MARKET CAPITALISATION 254 261

23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 Issuer 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 29-Oct-15 12-Nov-15 26-Nov-15 3-Dec-15 10-Dec-15 17-Dec-15 NA 24-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16 31-Mar-16

268

7-Apr-16

9.43 10.35 12.20 12.10 11.32 12.18 Description 12.56 12.81 ^13.05 16-AUG-2016 13.10 ^15.10 27-APR-2017 13.53 9.85 27-JUL-2017 13.65 13.51 9.35 31-AUG-2017 13.77 10.70 30-MAY-2018 12.58 ^16.00 29-JUN-2019 13.49 7.00 23-OCT-2019 12.66 ^15.54 13-FEB-2020 13.46 ^16.39 27-JAN-2022 13.09 ^14.20 14-MAR-2024 13.81 15.00 28-NOV-2028 13.47 12.49 22-MAY-2029 13.88 13.80 8.50 20-NOV-2029 13.82 ^10.00 23-JUL-2030 13.80 ^12.1493 18-JUL-2034 13.81 13.71 13.36 13.75 13.79 13.55

9.18 10.10 11.95 11.85 11.07 11.93 Issue Date 12.31 12.56 16-Aug-13 12.85 27-Apr-12 13.28 27-Jul-07 13.40 13.26 31-Aug-07 13.52 30-May-08 12.33 29-Jun-12 13.24 23-Oct-09 12.41 13-Feb-15 13.21 27-Jan-12 12.84 14-Mar-14 13.56 28-Nov-08 13.22 22-May-09 13.63 13.55 20-Nov-09 13.57 23-Jul-10 13.55 18-Jul-14 13.56 13.46 13.11 13.50 13.54

Description

13.30

Rating/Agency 282

Issuer 21-Apr-16

13.44

296

5-May-16

13.07

12.82

324 Agency Bonds

2-Jun-16

12.64

12.39

9.45 10.39 12.29 12.22 11.47 12.39 Coupon (%) 12.81 13.14 13.05 13.48 15.10 14.01 9.85 14.21 14.14 9.35 14.50 10.70 13.22 16.00 14.27 7.00 13.38 15.54 14.32 16.39 13.98 14.20 14.84 15.00 14.49 12.49 15.01 14.96 8.50 15.03 10.00 15.04 12.1493 15.10 15.02 14.69 15.20 15.30

Bonds

15.05

Issue 15.00Date

13.19

Tenor O/N 1M 3M Outstanding 6M

(N'bn)

Value

4,846.82

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

**Exclusive of non-trading t.bills

BBB+/Agusto

*BENUE

‡ /Agusto

*IMO

A+/Agusto; ‡ /GCR

LAGOS

‡ /Agusto

*BAYELSA

‡ /Agusto

EDO

‡ /Agusto; A+/GCR

*DELTA

<3 3<5 >5 Market

14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 836.32 10.00 LAGOS 19-APR-2017 13.75 BAYELSA1,432.61 30-JUN-2017

663.71 14.00 EDO 31-DEC-2017 2,932.63 14.00 DELTA 30-SEP-2018

UBA: United Bank for Africa

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.10 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.97 1.40 1.77 1.98

2.94 1.00 2.66 3.13

17.38 15.83 17.64 18.15

99.89 100.15 102.12 97.70

FMDQ FGN BOND INDEX

31-Aug-10

12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015

WAPCO:West Africa Portland Cement Company

91.19 91.34 89.91 90.06 89.89 90.04 NA :Not 102.15 Applicable 102.45 ^ : Market Prices 74.46 74.76 # : Floating Rate Bond 100.70 101.00 ***: Deferred coupon bonds 104.42 104.72 95.43 ‡ : Bond 95.13 rating under review 95.50 expired 95.80 †: Bond rating 81.44 N/A :Not 81.14 Available {r} :Issuer in receivership 58.65 58.35 68.00 68.30 NGC: Nigeria-German Company 80.57 80.87

Maturity Date

298.63

Sub-National Bonds Porfolio Market Value(Bn)

2.04 15.03 14.93 2.13 15.04 14.95 2.88 15.15 15.08 :Benchmarks 3.96 15.25 15.15 * :Amortising 4.28Bond 15.35 15.24 µ :Convertible Bond 4.58 15.31 15.22 AMCON: Asset Management Corporation of Nigeria 6.54 15.29 15.22 FGN: Federal Government of Nigeria 8.67 Mortgage Bank15.22 15.15 FMBN: Federal of Nigeria 13.38 Finance Corporation 15.81 15.75 IFC: International 13.86 15.89 Management 15.82 LCRM: Local Contractors Receivables NAHCO: Nigerian 14.35 Aviation Handling 15.97 Company 15.89 O/N: Overnight 15.03 15.56 15.49 UPDC: UAC Property Development 19.01 15.32Company 15.26

NOTE:

Offer ($/N)

197.94 198.04 Price 199.52 199.17 199.51 199.89 200.29 200.74 Bid Price Offer Price 201.59 202.51 204.54 205.89 98.22 98.37 210.54 212.79 100.14 100.29 222.82 227.51

Outstanding Value (N'bn)

297.52

Modified Duration Buckets

Rate (%) 11.75 12.00 14.84 12.25 14.96 12.50

Bid Yield (%)

Bid ($/N)

Coupon (%)

TOTAL MARKET CAPITALISATION

*EBONYI

TTM (Yrs)

Spot 7D 14D Offer 1M Yield 2M (%) 3M 14.68 6M 14.87 1Y

4,386.90

TOTAL OUTSTANDING VALUE

A-/Agusto

Tenor Call 1M 1.09 3M 1.79 6M

12.50

REPO

Tenor

14.24

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 *for the Amortising bonds, the average life is calculated and not the duration ***LCRM 0.00/16.50 LCRM II 19-APR-2017 # Risk Premium is a combination of credit risk and liquidity risk premiums 0.00/16.50 LCRM III 06-JUL-2017

KADUNA

12.00

O/N

Maturity Date

581.39 16-Aug-16 480.13 NITTY 27-Apr-17 20.00 27-Jul-17 Tenor Rate (%) 1M 11.2302 100.00 31-Aug-17 2M 12.4884 300.00 30-May-18 3M 13.7094 351.30 29-Jun-19 6M 14.1043 233.90 23-Oct-19 9M 14.7613 233.73 13-Feb-20 12M 14.8947 605.31 27-Jan-22 599.99 14-Mar-24 75.00 28-Nov-28 NIFEX 150.00 22-May-29 Current Price ($/N) 200.00 20-Nov-29 BID($/N) 591.57 198.9500 23-Jul-30 OFFER ($/N) 199.0500 324.50 18-Jul-34

14.62

FMBN

A/Agusto

OBB

Rate (%) 13.4167 14.4104 16.1431 16.7070

Total Outstanding Volume(Bn)

828.10 1,433.72 916.07 3,177.88

30-Sep-10 Weighting by Outstanding Vol 30-Jun-11 30-Jun-09 26.06 19-Apr-10

45.12 30-Jun-10 28.83 30-Dec-10

100.00 30-Sep-11

12.50

13.00 Weighting

by Mkt Value 14.00 15.50

10.00 28.52

13.75 48.85 14.00 22.63

100.00 14.00

8.50

31-Aug-15

2.16

30-Sep-15 % Exposure_ Mod_Duration 30-Jun-16

Bucket Weighting

2.60 3.96

57.00 0.26 21.24 0.45 25.00 0.29 30.81 1.00

0.13 0.21

Implied Yield

0.71

30-Jun-16 13.47 19-Apr-17

0.72 15.13 1.77

100.00 30-Sep-18

15.33 1.85

44.50 30-Jun-17 42.03 31-Dec-17

15.26 1.25 15.47 2.47

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.86

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

2.04

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

2.05

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.03

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

*GOMBE LAGOS

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

BBB-/Agusto; BBB+/GCR

*OSUN

14.75 OSUN 12-DEC-2019

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

15.50 14.50 14.75

15.09 80.00 24.74

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

2.47 4.36 2.53

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

3.07

4.44 3.23 Implied Portfolio Price 4.46 3.48 127.9915 1.00 123.8542 1.00 90.6338 1.79 115.3560 1.00 1.00 1.00 4.78 1.00 2.02 1.00 1.00 1.82

17.47

99.28

17.09

99.09 YTD Return (%) 96.74

INDEX

19.11 18.13 1,164.43 15.98 1,073.74 15.68 1,092.68 16.88 1,098.49 16.00 16.00 16.03 19.81 16.03 17.11 16.36 16.10 17.00

98.28 5.1069 91.06 6.0410 97.90

8.5070 94.37 4.1042 96.96 96.92 97.46 90.91 99.11 96.91 94.29 97.35 94.96

NEW TELEGRAPH WEDNESDAY,JULY 15, 2015

Okorocha snubs court order, stops monarchs’ allowances Steve Uzoechi OWERRI

D

espite the restraining order by an Owerri High Court asking parties to respect the pendency of the suit brought before the court by 40 aggrieved traditional rulers in Imo State, Governor Rochas Okorocha has directed the non-payment of monthly allowances to all the 40 traditional rulers who instituted legal action against him and nine others.

The court, presided by Hon. Justice Ngozi Ukoha, had on June 23, 2015, ordered Okorocha, Eze Samuel Ohiri and eight other defendants to respect the pendency of the suit before the court by refraining from doing anything punitive against the monarchs.

The court reiterated this order on July 8, 2015 when the matter also came up for hearing.

But last Monday, the embattled Eze Sam Ohiri, who is laying claim to the chairmanship of the state council of traditional rulers, said despite several court judgments to the contrary, the governor has ordered the withholding of the cheques of about 50 traditional rulers who have issues with him, including the 40 who are in court and the four monarchs earlier suspended.

Our correspondent gathered that the punishment for the traditional rulers was categorised. The few in the list of 50 monarchs marked for sanction, but who appeared before the Ohiri’s panel will have their six months allowances seized, the 40 monarchs that went to court will not be paid for one year while the earlier four suspended first class monarchs will not be paid for two years. This, it was reliably revealed, will serve as deterrent to other

News 47

SOUTH-EAST

traditional rulers in the state.

The 40 monarchs in court with the governor have, however, vowed to pursue their case to a logical conclusion. According to one of them, Eze Donald Nnabue, this latest action is a pointer to what would have befallen them if they had appeared before the ‘Illegal panel’ stating that the defendants had already concluded on what to do with them before inviting them to the panel.

He said Friday last

week, they received a text message, which reads thus “please come on Monday for your April and May cheques at the parliament,” but on getting there, they were bluntly told by the cashier that, “we have instruction not to pay you.” The 40 monarchs accused the authorities of ensuring that this punitive action against them are carried out to the letter, but restated that they will not be deterred, “This is a fight between justice and the rule of law against injustice and impunity.”

Imo yet to access N220bn MSME fund, says CBN Steve Uzoechi OWERRI

T

he Central Bank of Nigeria (CBN) yesterday lamented the inability of some states in the federation to access their lot in the N220 billion Micro Small and Medium Enterprises (MSME) Development Fund initiated by the Federal Government.

Speaking yesterday in Owerri during a CBN fair titled; ‘Promoting Financial Stability and Economic Development,’ Hajia Halima Lawal, of the Develop-

ment Finance Department of the CBN, said Imo State was yet to access the MSME fund while 24 states have so far taken advantage of the development fund by accessing and commencing process of disbursement to their people.

The CBN said it was aware that access to the fund was a major issue for small and medium scale businesses and that was why it designed the loan package with only nine percent interest rate to encourage entrepreneurship and development.

Committee seals off Ebonyi audit centre Uchenna Inya ABAKALIKI

E

bonyi State local governments AuditorGeneral, George Ukpai, yesterday sealed off the audit centre of the state Universal Basic Education Board (UBEB), following the refusal of the board operators to allow unfettered access to the centre in the on-going verification exercise embarked upon by the state government.

In a statement issued at the UBEB headquarters, Abakaliki, Ukpai directed that no further processing, retrieval of information and other actions related thereto, should be at the centre until further notice.

While addressing journalists on the verification

exercise at the UBEB, Ukpai, who was flanked by the state Head of Service, Dr. Chamberlin Nwele, Commissioner for Education, Prof. John Ekeh, the UBEB Chairman, Chief Hyacinth Ikpor and the Special Adviser to Governor Dave Umahi on Primary Education, Chief Itapa Azobu, the AuditorGeneral explained that the salaries of teachers at the primary and junior secondary levels, which was at N532 million was increased to N1.6 billion by the principal officers.

He said the one of the local government workers, which was at N564 million was increased to over N1 billion, which he said accounted for why the state government constituted the verification committee.

L-R: Director of Civil Engineering, Abia State Ministry of Works, Mr. Uduma Uduma; Permanent Secretary, Works, Richard Nwala; Director, Road Maintenance, Mr. Sunday Okpara; Governor Okezie Ikpeazu and Chief Joe Umezurike, during an inspection tour of Udeagbala Road in Aba…yesterday.

Tribunal strikes out APC governorship candidate’s petition Igbeaku Orji Umuahia

T

he Abia State Election Petition Tribunal sitting in Umuahia, yesterday dismissed the petition filed by the governorship candidate of the All Progressives Congress (APC) in the last election, Chief Chinenye Nyerere Ayim, against the candidate of the Peoples Democratic Party (PDP) and Gov-

ernor of Abia State, Dr. Okezie Ikpeazu, for negligence and lack of diligent prosecution by the petitioners.

Counsel to the respondents had told the tribunal that neither the petitioners nor their counsel were in court even as there was no letter from either, explaining their absence.

Citing relevant portions of the Electoral Act, Livy Uzoukwu, the INEC counsel, prayed the tribunal to apply the man-

datory provisions of the relevant section of the law, which he said mandated the tribunal to dismiss the petition, because the petitioners failed to appear for the matter.

But counsel to the PDP, Henry Balaogu, observed that the petitioners and their counsels were in the court on the last day of adjournment and were aware of the day’s sitting, but deliberately chose to be absent, he urged the tribunal to strike out the

matter.

Also, counsel to the 5th and 6th respondents, Mike Onyeka, urged the tribunal to dismiss the petition since it was clear that the petitioners have lost interest in the matter.

Chairman of the tribunal, Justice Usman Bwala, while dismissing the petition cited relevant sections of the Electoral Act, which he said the petitioner failed to comply with in the prosecution of the matter.

Enugu Assembly confirms 24 commissioners Ikpeazu to deliver 80% of road projects in 100 days

T

he Enugu State House of Assembly yesterday confirmed 24 commissioner-nominees forwarded to it by Governor Ifeanyi Ugwuanyi.

Screening the nominees during plenary, the assembly made them to answer questions on their course of study, profession, experience and on how they would contribute to reposition the state.

The screening, which lasted for five hours, fea-

tured two former members of the House of Representatives, Princess Peace Nnaji and Chief Chijioke Edeoga, who were asked to take a bow and leave.

After the screening, theLeader of the House, Hon. Ikechukwu Ezeugwu (PDP-Udenu) said: “Having answered most of the questions correctly, attempted some and with their experiences, levels of education, contributions to

our party, their community and the state, when confirmed, they will do us proud.

“Mr. Speaker, honourable colleagues, l hereby move that the commissioner-nominees be confirmed,” he said.

Ruling, the Speaker, Hon. Edward Ubosi, directed the Clerk of the Assembly, Mr. Christopher Chkwurah, to communicate to the governor of the confirmation of the nominees.

Igbeaku Orji Umuahia

A

bia State governor, Dr. Okezie Ikpeazu, yesterday said he was optimistic that at least 80 percent of the road projects embarked upon by his administration would be completed within the first 100 days in office.

The governor gave the assurance while fielding questions from

newsmen after inspecting the progress of work on some road projects in Aba and Umuahia.

According to him, his government will run on 100-day cycles to be able to take a retrospective view of its performance, adding that the inspection was meant to find a mid-mark and to be a regular exercise to ensure timely and quality delivery of the projects.

He further noted

that his administration would roll out new policies on the maintenance of public facilities, pointing out that the era of washing cars on the roads was over.

Ikpeazu added that all the roads under construction would come with streetlights and markings, explaining that having light on the roads has an economic importance as it will help traders on night trading.

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WEDNESDAY,JULY 15, 2015 NEW TELEGRAPH

SOUTH-SOUTH

Okowa tasks FG on diversification of economy

Rivers health workers call-off one-year strike

Dominic Adewole

Emmanuel Masha

ASABA

D

elta State Governor Ifeanyi Okowa, yesterday urged the Federal Government to embark on the diversification of the nation’s economy from her dependence on oil and gas.

The governor said if the country’s economy must bounce back from the doldrums , adequate attention must be paid on other areas of the economy, especially the solid

minerals sector.

Speaking when the Post Mortem Sub-Committee of the Federal Account Allocation Committee (FAAC) visited the state yesterday, the governor said over reliance on the oil and gas over the years have retarded the growth and development of the country.

Received by his deputy, Mr. Kingsley Otuaro, Governor Okowa explained that the state started the ‘Delta Beyond Oil’ initiative to diversify its economy because it believed that other sectors of the econo-

my could be developed to yield more resources for the growth and development of the state and the country at large.

The leader of the SubCommittee, Mr. Afolabi Popoola, who said they were on a working visit to different states of the federation to educate people on the comparative advantages of the sectors of economy, disclosed that the revenue accruing to the states have declined drastically because of the fall in the price of oil in the international market hence; the committee was

advocating that states should look into other areas of the economy like the solid mineral sector as a way of generating more revenue.

Popoola, who concurred to Okowa’s suggestion said the states stand the chance of making more money in solid minerals if urgent attentions were paid to the sector, maintained that “government need to venture into this area as a lot of private sector is investing in the solid mineral sector and so there is nothing wrong if government go into it.”

Port Harcourt

P

rimary health workers in Rivers State have called off their more than one year old strike embarked upon, following the intervention of the Deputy Governor, Dr. (Mrs) Ipalibo Harry- Banigo.

The health workers, who embarked on the strike due the non payment of their salaries and other entitlements by the administration of former Governor Chibuike Rotimi, called off the strike after a lengthy meeting with the state government.

While the strike lasted, some residents of the state, who could not afford to pay for services in private hospitals, were left to their fate.

But at the meeting, the representatives of the various arms of primary health workers in the state, agreed to resume work after the state government issued a communiqué, promising to look into their demands.

Both government and

the health workers also agreed to work together in the interest of Primary Healthcare Service Delivery for the people of the state.

Specifically, the health workers had demanded the consolidation of their salaries in line with health sector’s structure, payment of salary areas accruing from the consolidated salary structure and the implementation of the senior staff interview result.

The Deputy Governor, commended the health workers for agreeing to end the strike and urged them to take the interest of Rivers people into consideration, because the position of the state in the National Healthcare indices has dropped drastically due to the strike.

Harry- Banigo expressed disappointment over the lack of synergy among the Primary Healthcare Management Board, the Health Workers and the Local Government Councils in the state, a situation she noted prolonged the strike.

Emmanuel inaugurates auto assembly plant

A L-R: Special Adviser to Rivers State Governor on Media, Mr. Opunabo Inko-Tariah; Commissioner for Justice and Attorney-General of the state, Mr. Emma Aguma and Mr Shadrack Akalokwu, at a news conference on the judgement of the National Industrial Court on the sacked 23 local government chairmen and the state government in Port Harcourt …on Monday.

2016: We’ll back Oshiomhole’s candidate, says monarch Cajetan Mmuta BENIN

T

he Onojie of Opoji and First Vice Chairman, of the Edo State Council of traditional rulers and chiefs, His Royal Highness, Ehidiamen Aidonojie 1, yesterday declared that traditional rulers in the state will back any governorship candidate anointed by the governor in next year’s gubernatorial election The monarch stated this during a press brief-

ing on the activities lined up for his 29th coronation and 60th birthday anniversary scheduled for this weekend at Opoji, Esan Central local government area of the state.

He noted that apart from Oshiomhole’s numerous achievements in opening up of rural communities and massive infrastructural development of the state, the All Progressives Congress administration had accorded traditional rulers in the three sena-

torial districts of the state their privileges and respects as stipulated by the constitution.

He said the people of the state would not need a governor whose government will draw the state back to poverty.

“We want a governor that will have the kind of heart like this Oshiomhole. Oshiomhole has made sure that we are comfortable. One will not go for a governor that will bring us back to poverty. What I mean by that is whatever percentage

you are sending to the council, even when they say it is 5 percent, they give you one and half percent or two percent, we don’t want that kind of government.”

He added that, “If you go round some states in the country today, they are unable to pay salaries, but Oshiomole has managed to do that all these years and if at all Edo State owes, it is probably the councils and he has taken steps to ensure that all the workers get their pay.”

Uduaghan promises to transform Delta transport sector Gabriel Choba Ughelli

T

he Commissioner for Transport, Delta State, Mr. Vincent Uduaghan, yesterday promised to transform the state transport sector in line with Governor Ifeanyi Okowa’s five point agenda.

The commissioner, who stated this while addressing staff of the ministry, also warned that he will not condone any act of indiscipline and corruption.

While urging staff to be committed to their duties, he enjoined them to take up the issue of revenue generation for the state seriously just as he pledged to ‘tighten

every loose ends’.

“One thing we will not condone in this ministry is indiscipline and corruption as anyone who exhibits any act of indiscipline and corruption will be sanctioned accordingly.

As we work together; I assure you that you will definitely be rewarded accordingly”.

“I have gone round

the various departments and no doubt, there are certain things that needed to be corrected which, of course, we will start with. My joy is that I have seen capable manpower that we can work with to take the Ministry to place of glory and later, other things I assure you will follow” Uduaghan noted.

kwa Ibom State Governor Mr. Udom Emmanuel, has demonstrated his commitment to the industrialization of the State with the laying of a foundation for an Automobile Assembling Plant in Itu Local Government Area.

The automobile assembly plant, which is said to be one of the fruits of the Foreign Direct Investment, is an Israeli company named MIMSHAC Merkavim Transportation Technologies Plant.

Governor Emmanuel said that the ground breaking ceremony of the automobile plant will provide an unmistakable answer to those who doubted the possibility of industrializing the State.

He premised his decision to partner the Israeli automobile Industry on the need to open up vistas for the industrialization

programmes of his administration, maintaining that industrialization remains the corner stone to the creation of sustainable development.

The State Chief Executive acknowledged that the State is endowed with abundant resources which would be harnessed for industrial use and announced plans to establish a clay refining plant to boost economic momentum and create jobs for the people in fulfillment of his campaign promises.

The International Business Development Adviser to MIMSHAC Merkavim Transportation Technologies Plant, Mr. Ronen Golan, in his remarks stated that the company was a leading automobile assembly firm with specialty in the assembling of luxury buses, utility vehicles, ambulances and fire trucks.

PUBLIC NOTICE

THE CHAMPION MINISTRY INT’L

This is to inform the general public that the above named MINISTRY has applied to the Corporate Affairs Commission for incorporation under part “C” of the Companies and Allied Matters Act, 1990.

THE TRUSTEES ARE: 1. STEPHEN TUNDE OYEWUSI 2. OSINACHI ESTHER PHILIP 3. SEKINAT OLUWASEUN AKOREDE 4. NWOCHA OBINA EMMANUEL

- G.O - SECRETARY

AIM AND OBJECTIVE To preach the gospel of our Lord Jesus Christ throughout the world Any objection to the incorporation of the above ministry should be forwarded to the Registrar-General, Corporate Affairs Commission, 420, Tigris Crescent, Off Aguiyi Ironsi Street,P.M.B 198, Maitama, , Abuja, within 28 days of this publication.

Signed 08033880025, 08169196836

NEW TELEGRAPH WEDNESDAY,JULY 15, 2015

News 49

NORTH

Suswam not on EFCC Shettima: Fight against insurgency now or never Ahmed Miringa watch list, says aide Maiduguri

Cephas Iorhemen MAKURDI

F

ollowing yesterday’s report that President Muhammadu Buhari may have ordered the Economic and Financial Crimes Commission (EFCC) to arrest three ex-governors, including the former governor of Benue State, Gabriel Suswam, his former media aide, Chief Joseph Amawa, yesterday said the former governor is not on the commission’s watch list.

Other former governors said to be on the commission’s list include those of Niger and Bauchi States, Alhaji Babangida Aliyu and Isa Yuguda. There were allegations of corruption involving billions of naira on the social media yesterday against the three ex-governors.

Some of the allegations against Suswam was that he looted the

state’s treasury and left a N90 billion debt profile for the new administration while also having questions to answer concerning the N1.9 billion overdraft he obtained that swallowed the May federal allocation to the state.

But in a swift reaction yesterday, Anawa debunked the allegation that his boss was on the watch list of the EFCC, he described the publication as malicious, saying the allegation was targeted at tarnishing the image of the former governor.

He said: “I am in a good position to react on the allegation, because apart from serving in that administration as Media Adviser to Suswam, I am the man’s brother and if there is anything like that, he would have drawn my attention to it, and I think that kind of publication is malicious, it is targeted at tarnishing his image.”

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orno State governor, Kashim Shettima, has described the appointment of two indigenes of the state as security chiefs by President Muhammadu Buhari as one of the happiest moments in his life, saying the fight against insurgency ‘is now or never.’

He said with the duo, Nigeria now has the best of chances to overcome the challenges of insurgency facing her since 2009.

The governor said this when members of

the Insurgency Victims Support Fund under the chairmanship of Lt. General T. Y. Danjuma paid him a courtesy call at the Government House, Maiduguri, yesterday.

The governor said President Buhari’s choice of retired Major General Babagana Monguno and Major General Tukur Buratai as National Security Adviser and Chief of Army Staff respectively was a classic case of putting square pegs in square holes, because both men have been given the mandate of liberating their state, which is at the centre of Boko Haram ac-

tivities.

He said the two officers possess ancestral knowledge of the Borno terrain in addition to being direct victims of insurgency attacks with their relatives killed, their residences destroyed and their towns raided.

Shettima said: “Yesterday was the happiest moment of my life. President Muhammadu Buhari made a strong statement by his decision to appoint two highly competent sons of Borno to the offices of the National Security Adviser and the Chief of Army Staff. I think his strategy was to get people with ancestral

knowledge of the Borno terrain.

“Major General Tukur Buratai is even a direct victim of Boko Haram attacks. He lost family members when his residence was attacked earlier this year in Buratai, a town in Biu Local Government Area. Monguno was destroyed and was once occupied by Boko Haram and that is where the new NSA, Retired Major General Babagana Monguno, hails from.

“In fact, a key family member of General Monguno is still being held captive by Boko Haram insurgents.

NEMA receives deported refugees from Cameroon Ibrahim Abdul Yola

N

o fewer than 516 Nigerian refugees evacuated from Makolo Camp in the Republic of Cameroon yesterday arrived in Adamawa State.

The National Emergency Management Agency (NEMA) Camps’ Coordinator, Mr. Sa’ad Bello, yesterday confirmed their arrival, saying that their final destination was Yola, the state capital, about 200 kilometres south of Mubi.

The Boko Haram refugees were received at the border by the Nigerian security and rescue officials.

The insurgency in the North-East part of the country has displaced thousands of people from Adamawa, Borno and Yobe States with many taking refuge in neighbouring countries.

Bello told reporters yesterday that the refugees were received at the border area of Mubi, by Nigerian security officials and representatives of the Red Cross.

At the border, security and rescue officials have interviewed some of the people who transited through Cameroon before re-entering Nigeria.

“The vast majority of them are women and children. They told our teams that many families were

forced to flee on foot, taking few belongings with them and walking tens of kilometres before finding safety in Cameroon,” the IDP Camps’ Coordinator said.

He noted that most of the refugees who fled to Cameroon were from Bama, Banki and Gamboru-Ngala in Borno State and that they have the option to stay at the camp or return to their homes.

“We have received 516 refugees who had fled to Cameroon mostly from Gamboru, Banki and Bama in Borno State. We received them at the border and transported them to the camp in dignity.

Their condition is good,” he said.

“Four women gave birth in transit, and camp officials have put in place measures to cater for the refugees.”

T

Cephas Iorhemen

Ortom warns homosexuals

MAKURDI

B

enue State governor, Samuel Ortom, yesterday said the state government will not spare anyone caught indulging in homosexuality.

The governor made the declaration in Makurdi during a courtesy call on him by the Prelate of the Anglican Communion in Nigeria,

Officials of the National Emergency Management Agency (NEMA), distributing clothing materials to Internally Displaced Persons (IDPs) for Eid-el-Fitri celebration during their visit to Idps Camps at the Federal Training Centre, Dalori in Maiduguri …yesterday.

PHOTO-NAN.

charges Sacked LG chairmen sues Lalong for contempt Emir traditional Musa Pam Jos

he recently dissolved local government chairmen in Plateau State have sued the state governor, Simon Lalong, for their dissolution and contempt of court.

The 14 elected council chairmen had approached the court through their counsel, Messrs. Philemon Dafi and Gyang Zi and obtained an injunction, which Lalong ignored and went ahead to dissolve them on July 6.

Justice Ambrose Alla-

Archbishop Nicholas Okoh.

Governor Ortom said gay lifestyle, which is being promoted in the Western world, was alien to the customs, lifestyles, and the belief of Africans and the church.

He prayed that a revival would spring forth from the state that would produce evange-

goa of the Jos Federal High Court, in an order dated July 10 and made available to journalists yesterday in Jos, declared that the chairmen should remain in their offices pending the determination of the case before him.

The court also granted leave to the chairmen to serve the state House of assembly and the state Attorney General Forms 48 and 49.

It also granted them leave to serve on the Commissioner of Police and all relevant law enforcement agencies with the court injunction earlier issued to

lists that would drive the evangelisation of Africa and the Western world, adding that the personal knowledge of the Lord Jesus was the solution to the decadence sweeping across many nations.

He commended the Anglican Communion in Nigeria for its principled stand on gay marriage

the chairmen on June 16 restraining the governor from sacking them.

The order restraining the House of Assembly, the A General (1st and 2nd defendants respectively) from doing anything or taking any step contrary to the rights of the chairmen to remain in office with their deputies.

The court also pointed out that by section 7 (1) of the Constitution of the Federal Republic of Nigeria, 199 (As amended) the chairmen, who were sworn-in on March 3, 2014 have a tenure of three years.

and pledged his support.

Governor Ortom reiterated that his administration, which was anchored on the fear of God, would ensure due process and zero-tolerance for corruption even as it would entrench the core values that would enhance the socio-economic wellbeing of the people.

institutions on polio eradication Abubakari Abdul Birnin Kebbi

T

he Emir of Arugugun and the Chairman, Northern Traditional Rulers on Polio Eradication, Alhaji Ismaila Muhammed Mera, has called on the all stakeholders, traditional institutions and religious leaders in the northern part of the country to intensify efforts at maintaining the former formula used in eradicating polio for one year to ensure a poliofree northern Nigeria in the next three years.

He made the call yesterday while addressing members of Journalists Against Polio (JAP), who paid him a courtesy visit in his palace.

He said people in the affected area should know that they are in a critical period and should not allow the virus comeback.

50 WORLD | News

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Iran nuclear talks: ‘Historic’ agreement struck l

Netanyahu: Israel not bound by deal with Iran

W

orld powers have reached a deal with Iran on limiting Iranian nuclear activity in return for the lifting of international economic sanctions. US President Barack Obama said that with the deal, “every pathway to a nuclear weapon is cut off ” for Iran. His Iranian counterpart, Hassan Rouhani, said it opened a “new chapter” in Iran’s relation with the world.

Negotiations between Iran and six world powers - the US, UK, France, China, Russia and Germany - began in 2006.

The so-called P5+1 want Iran to scale back its sensitive nuclear activities to ensure that it cannot build a nuclear weapon.

Iran, which wants crippling international sanctions lifted, has always insisted that its nuclear

work is peaceful. There has been stiff resistance to a deal from conservatives both in Iran and the US. The US Congress has 60 days in which to consider the deal, though Mr Obama said he would veto any attempt to block it. The Republican Speaker of the US House of Representatives, John Boehner, said the deal would only only “embolden” Tehran. “Instead of stopping the spread of nuclear weapons in the Middle East, this deal is likely to fuel a nuclear arms race around the world,” he added. Israel’s government has also warned against an agreement.

Prime Minister Benjamin Netanyahu said it was a “stunning historic mistake” that would provide Iran with “hundreds of billions of dollars with which it can fuel its terror machine and its expansion and ag-

gression throughout the Middle East and across the globe”. He said he did not regard Israel as being bound by this agreement.

“We will always defend ourselves,” he added. In a televised address, Mr Obama insisted the deal would make the world “safer and more secure”, and provided for a rigorous verification regime. “This deal is not built on trust - it is built on verification,” he said. Immediately afterwards, Mr Rouhani gave his own televised address, in which he said the prayers of Iranians had “come true”. He said the deal would lead to the removal of all sanctions, adding: “The sanctions regime was never successful, but at the same time it affected people’s lives.’’ After 12 years, world powers had finally “recognised the nuclear activities of Iran”, he said.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu said yesterday Israel would not be bound by the nuclear deal between world powers and Iran and would defend itself.

Appearing before the television cameras to make a

statement in which he underlined Israel’s disappointment in the deal that he described as a “stunning, historic, mistake”, he said: “Israel is not bound by this deal with Iran because Iran continues to seek our destruction. We will always defend ourselves.”

Ugandan president in Burundi for crisis election talks

U

gandan President Yoweri Museveni arrived in Burundi yesterday for crisis talks, as President Pierre Nkurunziza readied for a third term bid in polls next week following months of violence. Museveni, appointed mediator last week by the fivenation East African Community (EAC), arrived by road via Rwanda to push stalled talks between Nkurunziza’s ruling CNDD-FDD party and opposition groups.

The veteran Ugandan leader, who first flew to Rwanda for meetings there before entering Burundi escorted by Ugandan armoured vehicles, said in a statement he would “establish a dialogue among warring political factions.” But with the

presidential elections now scheduled for July 21, Museveni has been left with only a few days to succeed.

Nkurunziza’s bid to stand for a third consecutive five-year term, despite a constitutional two-term limit, has sparked months of civil unrest and an attempted coup in mid-May. Opposition groups say another term would violate a peace deal that paved the way to end a dozen years of civil war in 2006. There are fears the current crisis could plunge the impoverished, landlocked country back into civil war. Both sides have made clear that their positions will not change. Museveni must convince the president to step down, said opposition leader Leonce Ngendakumana.

British PM vows to end ‘scandalous’ gender pay gap European Union High Representatives pose for a group picture

Rwandan lawmakers back president for third term

R

wandan lawmakers backed a motion yesterday to let President Paul Kagame run for a third term in office, paving the way for a referendum to amend the constitution. A similar move by the president of neighboring Burundi has provoked violent protests and fears of renewed ethnic conflict in a combustible region. One analyst said any similar opposition to the move in Rwanda would likely be stamped out quickly.

Rwanda’s Kagame, whose ruling party has controlled the country for the last decade,

has not directly said he wants to run again.

But he has said he is open to persuasion that the two-term limit in the constitution needed to be changed, and a petition to that effect has collected 3.8 million signatures. Members of parliament voted unanimously to back the petition, said speaker Donatille Mukabalisa, adding that a referendum would be called on whether to amend the constitution. “We’ve started the process to the referendum.

We shouldn’t delay the process,” Mukabalisa told a news conference. Yolande Bouka, a Nairobi-

based researcher for the Institute for Security Studies, said there was no chance of such protests in Rwanda. “Dissent is very violently and swiftly repressed by the government,” she said.

“Therefore the likelihood of protests as we saw in Burundi and Burkina Faso or even Senegal a few years ago is quite unlikely.” Green party leader Frank Habineza is opposed to the constitutional amendment and has challenged it in court.

“Why would they have to hurry? They have to wait for the Supreme court to make its ruling,” he said.

India’s stampede ‘kills 27 pilgrims’

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t least 27 pilgrims have died in a stampede on the banks of a holy river in the southern Indian state of Andhra Pradesh, local officials say. The Hindu pilgrims had gathered to take a dip in the Godavari river at the start of the Maha Pushkaralu festival. The stampede occurred at 08:00am (02:30 GMT) in the Rajahmundry district. Nearly 24 million pilgrims are expected to take part in the 12-day festival.

Pilgrims believe that taking a

bath in the river will rid them of their sins.

“The incident happened as the first set of worshippers were coming out of the river after taking a dip and then got in the way of others who wanted to be in the water at an auspicious time,” AFP news agency quoted senior police official A Srinivasan Rao as saying.

Andhra Pradesh Chief Minister N Chandrababu Naidu, who bathed in the river at the festival yesterday morning,

said in a series of tweets that he was monitoring the situation and urged people not to panic: Deadly stampedes during religious gatherings are fairly common in India. In October 2013, 115 people died during a stampede at a Hindu festival in the central state of Madhya Pradesh. Most were crushed after panic broke out on a bridge near the Ratangarh temple. Others drowned when they jumped from the bridge into river waters below.

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ritish Prime Minister David Cameron vowed yesterday to end the country’s gender pay gap in a generation, calling it a “scandal” that a woman in Britain earns only 80 percent of a man’s pay. Large firms in Britain will be required to publish the average pay of their male and female employees, and this will put pressure on them to pay women more, Cameron said in an article published by The Times newspaper.

“We will make every single company with 250 employees or more publish the gap between average female earnings and average male earnings,” Cameron said. “That will cast sunlight on the discrepancies and create the pressure we need for change, driving women’s wages up.”

Cameron said a target set

in 2011, to have 25 percent of board positions at Britain’s 100 biggest stock exchange-listed companies filled by women, had been met, but added that more must be done to help them reach higher leadership positions.

Women make up 47 percent of Britain’s workforce, but only 34 percent of managers, directors and senior officials are women.

Only 7 percent of engineers and one fifth of IT technicians are women, according to official data. In the European Union (EU) as a whole, women were paid 16.4 percent less than men on average in 2013, statistics agency Eurostat said, and United States Census Bureau data show women earn 77 cents for every dollar a man earns, based on annual median salaries.

Saudi-backed forces seize Yemeni airport

G

ulf-backed Yemeni forces recaptured Aden’s international airport from Houthi militia fighters yesterday as heavy combat took place across the port city following the collapse of a humanitarian truce, the exiled government said.

Forces loyal to exiled President Abd-Rabbu Mansour Hadi also took Aden’s central district of Khormaksar, and aid sources reported fighting around the port area.

Backed by air support from a Saudi-led coalition, the loyalist

forces launched a wide-ranging assault in Aden this week to reclaim territory held by the Iranian-allied Houthis.

“Aden International Airport and Khormaksar have been cleared of Houthi and Saleh elements by armed forces backing Yemen’s legitimacy and the popular resistance forces, in coordination with and with direct support by the coalition,” Yemeni government spokesman Rajeh Badi said.

He said he expected Aden to be cleared completely within the coming days.

NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

News

IAAF nominates Okagbare for athletes commission

International Sport

Sterling seals £49m Man City move

Sport News

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Akuneto: Oliseh learnt from Ancelotti, Sammer, Olsen

Sport

Did you know?

That the longest Grand Slam final in history took place at the 2012 Australian Open between Novak Djokovic and Rafa Nadal with Djokovic winning in five hours, 53 minutes.

Eagles will be better now, says Pinnick Adekunle Salami

T

he President of the Nigeria Football Federation, Amaju Pinnick, has said that the Super Eagles will be a better team under the incoming coach, Sunday Oliseh.

Pinnick said with the discussions so far, the former international had shown so much commitment and zeal to excel with the national team.

He said the former Ajax player had been in constant touch with him and the technical Committee chairman, Felix Anyansi-Agwu.

The NFF boss said; “He is ready for the challenge and

I have no doubt he will excel because of the way he has been talking to us. He seems to have been ready a long time ago for the task we are about handing to him.

“When you are talking to a coach-to-be and the first thing he mentions is his determination to re-structure the play-

ing pattern of the team, you cannot but respect that.

“I am very happy that Oliseh has deep knowledge of the game. He surely knows what he wants and how he intends to achieve his objectives. Very soon, Nigerians will commend the NFF for the step we are taking.”

On the challenge of meeting the conditions of the National Sports Commission with respect to following due process in hiring of the coach, Pinnick said work was ongoing to achieve that.

“We are doing everything possible to make sure the coach is unveiled soon. The

conditions of government will be met and everything will be fine,” the NFF boss said.

It is unclear if the unveiling ceremony of the coach will still hold on Wednesday in Abuja given the logistics the NFF will have to take care of at the level of government before Oliseh gets the nod.

Nigeria’s Aaron Samuel (left), contesting for the ball against a Chadian opponent during the last AFCON qualifier

Pinnick

The Sport Team

I am ready to work with Amodu – Oliseh

Group Sport Editor

• He promised to tame his temperament, says Pinnick

Emmanuel Tobi

Adeolu Johnson

Adekunle Salami

Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

© Daily Telegraph Publishing Company Limited

Abuja

I

ncoming Super Eagles Manager, Sunday Oliseh, has said he cannot wait to reunite with his former boss and Technical Director of the Nigeria Football Federation, Shaibu Amodu.

Oliseh who is billed to be unveiled on Wednesday as the Eagles Head Coach on Tuesday met with Amodu and the board members of the NFF on how to drive the game to the next level.

NFF President, Amaju Pin-

nick, said that Oliseh had promised to be humble and also tame his temper in the course of his new assignment.

According to Pinnick, Oliseh said he was eager to work with Amodu whom he called his boss and coach.

On whether there may be conflict in the discharge of duties between the duo, the President said their functions would be outlined.

Pinnick said Oliseh was picked because of his high intellectual capacity in coaching and recommendations by FIFA.

Oliseh has a UEFA Pro Licence which is seen as the highest coaching certificate in the world but the former midfielder has no experience managing a top team in Europe, Africa, America or even a junior national side.

Pinnick however defended Oliseh insisting he was picked for his passion, intellectual capacity and on FIFA recommendation.

He said: “I absolutely feel that we have made the right choice by picking Oliseh to handle the Super Eagles. In

this age of technological advancement, we must start doing things differently. We need a coach with sound intellectual capacity and one who has the highest coaching certificate.

“He is working with FIFA in the technical study group.

The world recognises him and FIFA even recommended him.

He has the passion to coach the Eagles.”

Pinnick said the NFF decided to offer him the N5m monthly salary his predecessor, Stephen Keshi, earned to serve as motivation.

52

Sport

WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

IAAF nominates Okagbare for athletes commission Emmanuel Tobi

A

frica and Nigeria champion, Blessing Okagbare, has been nominated alongside 15 other athletes to run for the six seats in the IAAF Athletes Commission.

According to the IAAF Press Division, all athletes accredited for IAAF World Championships (Beijing 2015) will have the right to vote in the elections, which will take place during the championships between August 23 and August 29 in the official team hotels.

To be eligible for nomination, athletes must have participated in at least one of the past two editions of the IAAF World Championships or in the most

recent Olympic Games or be a competitor at this year’s IAAF World Championships.

Okagbare who won bronze in long jump at the 2008 Beijing Olympics, also claimed silver at the 2013 World Championships.

She also won a bronze medal in the 200m final in Moscow in 2013.

The 26-year-old star also won gold medals in 100m and 200m respectively in the 2014 Commonwealth Games in Glasgow, Scotland.

The names of the six elected members of the commission will be announced before the end of the championships and they will begin their mandate on January 1, 2016.

“Athletes are a vital pillar in sports and should remain at the

heart of the decision-making process in all sport governing bodies,’’ said Namibian Frankie Fredericks, chairman of the IAAF Athletes’ Commission.

The nominees are Valerie Adams (New Zealand), Mehdi Baala (France), Mutaz Barshim (Qatar), Nataliia Dobrynska (Ukraine), Michael Frater (Jamaica), Jacques Frisch (Luxemborg), Yelena Isinbaeva (Russia), Vanda Juhasz (Hungary), Ezekiel Kemboi (Kenya), Fabiana Murer (Brazil) and Koji Murofushi (Japan).

Others are Blessing Okagbare (Nigeria), Christian Olsson (Sweden), Aliann Pompey (Guyana), Alina Talay (Belarus), and Andreas Thorkildsen (Norway).

Okagbare

Toriola, Quadri lead Team Nigeria to Cameroon • For ITTF Africa Senior Cup Ajibade Olusesan

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Toriola

ix-time Olympian, Segun Toriola and 2014 ITTF Star Player, Aruna Quadri ,,will spearhead Nigeria’s quest for the title at the 2015 ITTF Africa Senior Cup holding in Yaounde, Cameroon.

The tournament serves as qualifiers for the ITTF Men and Women World Cups holding later in the year.

The three-day championship serves off on Tuesday July 21 while it will be followed by ITTF Africa Club Championship involving teams from the continent.

At the ITTF Africa Senior Cup, two players are expected to represent each country in the men and women singles with Egypt’s El-Sayed Lashin and Han Xing as defending champions.

The winners in the men

OAU, ABU battle at Oyedeji Intercollegiate Basketball Ifeanyi Ibeh

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wo of the country’s top basketball-playing institutions, the Obafemi Awolowo University and the Ahmadu Bello University, will go head-to-head at the inaugural edition of the Olumide Oyedeji Intercollegiate Basketball Championship, coming up in September, in Lagos.

The championship, tagged ‘Stay in School Initiative’, is the brainchild of England-based captain of the country’s men’s basketball team, Olumide Oyedeji, who explained that the programme is so-tagged to stress the need for education among athletes, particularly basketball players, and to revive the culture of school sports at the tertiary institutions level.

The draws for the championship, which runs from September 19 to

27 at the Mobolaji Okoya Thomas Indoor Sports Hall of the Teslim Balogun Stadium, was conducted on Tuesday in Lagos and the two universities will compete out Group A. Other teams in Group A are Niger State College of Education and Lagos State Polytechnic.

Group B comprises of Federal University of Technology, Minna, University of Lagos, Federal College of Education (Technical), Gombe and Auchi Polytechnic.

The top two sides from both groups at the end of the preliminaries will progress to the semifinals, with the winners of the two semifinal ties progressing to the final taking place on September 26.

All the participating teams will get two sets of basketball jerseys and are expected to arrive Lagos on September 19, and depart for home on September 27.

StarTimes to sponsor 10 subscribers to watch Bundesliga Charles Ogundiya

and women singles events will represent Africa at the ITTF World Cups.

According to Toriola, Nigeria has the wherewithal to clinch the title as Egypt and Congo Brazzaville are under pressure to win.

“I saw the Egyptian and Congolese teams in China and they are really preparing well.

I am aware that the Congolese team has been in China since last year because they are the host of the All Africa Games and they want to perform well.

Also, I met the Egyptians who are also eager to know who will be representing Nigeria at the tournament. But with what I saw, I know the Congolese and the Egyptian teams will be under pressure to perform well.

But as for Nigeria, we will not be playing under pressure as everybody is relaxed,” he said.

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s part of the fifth year celebration of the coming of the organisation to the Nigerian market, StarTimes Nigeria on Tuesday, in a media briefing, launched a promo to sponsor 10 of its subscribers to watch a live Bundesliga game in an all-expenses paid trip to Germany.

Speaking during the press briefing, StarTimes PR and Communication Manager, Israel Bolaji, said, “In our quest to provide the best for our teeming subscribers, we decided to bring the Bundesliga live to them. Our organisation decided to build and grow the German Bundesliga culture in Nigeria and at the same time to repay our subscribers for their faithfulness in the past five years.”

StarTimes Marketing Manager, Somoye Habeeb, added that; “We have some other prizes like 2.5KVA generators for 100 subscribers, StarTimes 40’ LED Television for 50 winners and StarTimes Phone for 200 winners to make it a total of 360 winners in 10 weeks.

“The winners will be picked in four different raffle draws: July 31, August 15, September 4 and finally September 30, which happen to be the last day of the promo,” Habeeb said.

The promo starts on July 18 and ends on September 30.

N1m up for grabs at GOtv Boxing Night Ifeanyi Ibeh

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he best overall boxer at the upcoming GOtv Boxing Night will go home with an incredible one million naira, organisers of the event have stated.

The GOtv Boxing Night, the third in the series since its inception back in November 2014, comes up on Sunday, July 26 at the Indoor Sports Hall of the National Stadium, Lagos. And the overall best boxer will be decided on the night by a team of judges and journalists.

It will be the first time the best overall boxer will be heading home with anything other than the event’s customised silver trophy, which has now been renamed the Mojisola Ogunsanya trophy, in memory of the departed

wife of GOtv boss, Adewunmi Ogunsanya. And according to the Managing Director of Flykite Productions and promoter of the GOtv Boxing Night, Jenkins Alumona, who spoke at a press conference on Tuesday, the monetary incentive was made possible by Ogunsanya, who is a keen lover of boxing.

Six bouts will take place on July 29 with the main event being the 12 rounds national light middleweight title bout between Sule ‘Tyson’ Olagbade and Abolaji ‘Afonja Warrior’ Rasheed.

Rasheed was adjudged the overall best boxer at last November’s maiden edition.

The event will get underway at 5pm with tickets going for N200 and N800 for regular and VIP tickets, respectively, which grants the

Olagbade

ticket purchaser an opportunity to win one of the 50 GOtv decoders up for grabs via a raffle draw to be conducted at the event.

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NEW TELEGRAPH WEDNESDAY, JULY 15, 2015

Casillas’ Real exit leaves bad taste – Xavi

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Raheem Sterling going past Manchester City’s Pablo Zabaleta last season

Sterling seals £49m Man City move

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aheem Sterling has completed his £49m transfer from Liverpool to Manchester City.

The 20-year-old passed his City medical on Tuesday before signing a fiveyear contract in a deal which makes him the most expensive English footballer. He will now fly out to Australia to join his new team-mates on their pre-season tour.

The deal will see City pay their Barclays Premier League rivals a guaranteed £45m, while Sterling will sign a contract worth £180,000 a

week. An additional £4m in add-ons has also been negotiated, which would take the fee close to Liverpool’s £50m valuation.

Liverpool are said to be satisfied with the obtainability of the proposed £4m extras and are confident Sterling will meet the targets.

The deal is the seventh most expensive transfer involving a British club.

City manager Manuel Pellegrini said: “Raheem Sterling is one of the best attacking players in world football, and I am very much looking forward to him joining our squad out

in Australia later this week.

“He is a young player with outstanding ability, and I am sure the Manchester City fans will be very excited about seeing him in action for the team.”

City failed with two previous bids for the 20-year-old, but made the key breakthrough in discussions for the forward over the weekend.

A recent study rated him as the most valuable young player in European football ahead of Paris Saint-Germain defender Marquinhos and Manchester United’s new winger Memphis Depay.

he manner of Iker Casillas’s Real Madrid exit leaves a “bad taste in the mouth”, according to his former Spain teammate, Xavi.

Real have been criticised for failing to give the Spain goalkeeper, 34, the send-off his 16-year service warranted.

“It cannot be that maturing Spanish athletes are not shown sufficient respect,” Xavi told La Vanguardia.

“He is going to Porto and I am sure he will be welcomed as a hero.

Away from here they will appreciate him more.”

A tearful Casillas appeared alone in the press room at the Bernabeu on Sunday as he read a farewell statement to end his illustrious Real career.

The Spanish club responded to heavy criticism by organising an official presentation at

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Tevez

arlos Tevez was welcomed home by over 40,000 fans in Buenos Aires as he re-joined boyhood club Boca Juniors.

NSC plans big for grassroots development

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he Director-General, National Sports Commission, Alhassan Yakmut, says the commission plans to set aside between 25 to 45 per cent of its annual allocation for grassroots sports development.

An NSC statement released by the commission’s Deputy Director Press, Stephen Nelson,

quotes Yakmut as saying on Tuesday in Abuja that this was the only way to discover young talents to replace aging athletes.

It notes that Yakmut said this while addressing zonal coordinators of the commission on the need to groom young athletes, at which he lamented the deficiencies observed in the coordinators’ technical approach to

discovering new talents.

“The time has come, when professionalism has to be put to test and key indicators in sports measured’’.

The statement quotes him as saying that the commission would meet regularly with coordinators to create awareness on the `modus operandi’ for grassroots sports development.

their sport and instead focus on their defects, sometimes with malicious intent.”

Casillas, who had one year left on his contract, won three Champions Leagues and five La Liga titles with Real and holds the record for Spanish caps (162), winning two European Championships and the World Cup.

Casillas (left) with Xavi

I’m not in United for Van Gaal – Schweinsteiger

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astian Schweinsteiger says Louis van Gaal was not a big factor in his decision to join Manchester United. The German World Cup winner has moved to Old Trafford in a £12m (16.9m) deal, signing a three-year contract with the Red Devils.

Schweinsteiger has worked with the United boss previously during his time at Bayern Munich but says the allure

of the club enticed him to Old Trafford.

He told MUTV: “Of course, I know him [Van Gaal] so it was a little bit easier. It’s not about him, though; it’s more about the club, about Manchester United. It’s such a big club with tradition and quality in the team, and I think we’re capable of winning titles this season.

“Of course, Louis is a great coach and every-

thing is good, we’ll see how we do in the league.”

Schweinsteiger will become the first German to feature for Manchester United and he says he is looking forward to playing in the Premier League.

“It’s a big honour. I had a joke with Wayne [Rooney] about it before, but it’s a big honour to be the first German player here for the first team.

It’s a great feeling,” he added.

Pedro to decide future – Enrique

Tevez gets hero’s welcome at Boca The former West Ham, Manchester United, Manchester City and Juventus striker was greeted by Diego Maradona and has been given the same No 10 shirt worn by the Argentina legend during his playing days at Boca.

“Boca is unique, nobody can understand the feeling that one can have for Boca,” said Tevez, who kissed the grass at the famed La Bombonera stadium.

“There’s no better day than this one. This is my home from start to finish. I’m in top condition physically as well as mentally.”

the Bernabeu the next day, when hundreds of fans called for president Florentino Perez to quit.

The circumstances of his exit contrast greatly to the farewell Xavi was given by Barca earlier this summer, after 17 years with the European champions.

“I look at Iker and I have the feeling that lately he is playing under pressure, as if he has to prove what a great keeper he is in every match, without the joy he always had,” said Xavi, 35, who has joined Qatari club Al Sadd.

“In recent years, I have seen that he is not enjoying himself like before. He even seems bitter and I think everyone in this country should think about this.

“It cannot be that people neglect to value everything they have done for

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Schweinsteiger

uis Enrique hopes Pedro ignores Chelsea’s interest to stay at Barcelona but concedes the forward will have the final say on his future.

The Spain international was restricted to only 15 league starts in 2014-15 due to the arrival of Luis Suarez from Liverpool, and that lack of game time has seen the 27-year-old linked with a summer move to Stamford Bridge.

But his Barca coach insists there is a place for Pedro at the club, just as long as he wishes to stay.

“Pedro’s situation is clear. I do not want any player to leave, I have always stressed his qualities as a professional but I respect the decision of the player,” Luis Enrique told reporters.

Golf: Woods banking on experience for Open glory

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iger Woods believes that experience will be paramount for any golfer hoping to contend in the 144th Open at St Andrews. The former world No 1, who has slipped to 241 in the rankings, is confident he will be able to compete this week on the course where he has won two times in the past.

Woods, whose last ma-

jor success came at the US Open in 2008, said: “Experience counts a lot with the wind conditions. I think that’s where experience comes in to play. You have to hit the ball well and you have to be able to putt lightly. If you haven’t seen the golf course in various winds then you can be in trouble.

“It helps to play some practice rounds with older

players, taking their advice, picking their brains.

Sometimes you have to improvise, take bunkers out of play, play shots into adjacent fairways; that’s not something I would do playing in the United States – not on purpose, anyways!

“You can see the Old Course on a simulator and it looks great but you have to see it under different winds.”

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WEDNESDAY, JULY 15, 2015 NEW TELEGRAPH

Akuneto: Oliseh learnt from Ancelotti, Sammer, Olsen Ifeanyi Ibeh

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former junior international, Chuks Akuneto, is thrilled that the Nigeria Football Federation is in talks with Sunday Oliseh for the Super Eagles coaching job.

He is shocked about the outcry from certain football stakeholders over the suitability or otherwise of the former Nigeria international for the national team coaching job; a person he believes will commence the much-needed revolution Nigerian football requires.

The move by the NFF has been met by disapproval from certain individuals owing to Oliseh’s lack of coaching experience.

Oliseh’s last coaching job was at Belgian lower league side R.C.S. Verviétois in the 2008/2009 season.

One of the biggest critics of the former Juventus, Borussia Dortmund, and Ajax midfielder is a former Super Eagles coach, Clemens Westerhof, who back in 1993 handed Oliseh the first of his 54 caps for Nigeria.

Westerhof, according to media reports, said the 40-year-old has not got the required experience to handle such a difficult side with lots of egotistical players and faulted the NFF’s decision in handing the top coaching job to someone who would not be respected by the national team players.

Akuneto, who is a coach at English sixth-tier club, FC United of Man-

Akuneto

chester, as well as an English FA Club Mentor, however feels everyone citing Oliseh’s lack of experience as reason for him not to be engaged by the NFF have all got it wrong.

“I really don’t know what all the fuss is about,” Akuneto told New Telegraph.

“Here is a gentleman who served this country with all his strength. A gentleman who is very articulate and has well thought out views about the way the game should be coached.

“The NFF obviously know what they want because Oliseh favours long term player development over the usual fire brigade approach.

“He is very qualified for the job, or do all these people think it is easy to get an UEFA Pro Licence? It is not,” said Akuneto, who holds an UEFA A Licence.

“He played under some of the best coaches to have ever coached the game.

Current Denmark coach, Morten Olsen, was his coach at Ajax and he (Ol-

Oliseh (left) arriving at the Nnamdi Azikwe International Airport, Abuja on Tuesday

sen) has been coaching Denmark since 2000. Former Real Madrid, Chelsea and AC Milan coach, Carlo Ancelotti coached him at Juventus, and Matthias Sammer was his boss at Borussia Dortmund. These are all top managers and no one can tell me Oliseh didn’t pick up a lot from playing under these legends of the game.

The former Stationery Stores and Shooting Stars defender also cited the case of former Germany and current

United States coach, Jurgen Klinsmann, who never handled any club before his appointment as Germany coach in 2004.

“Klinsmann’s first coaching job was with the German national team and he started a revolution that saw Germany getting to the seminfinals of the World Cup in 2006,” he continued. “And today we all know what that revolution led to as Germany are world champions.

“So as far as I am concerned, our own revolution has just begun.”

Nigeria explores sportswear manufacturing potentials Amadi Nnamdi Abuja

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Victor Moses (middle) with Samir Nasir (left) and Yaya Toure of Man City

Moses in Mourinho’s plans, says Hughes Emmanuel Tobi

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toke City coach, Mark Hughes, has revealed that the club has opted out of their pursuit of Victor Moses stressing that Chelsea manager, Jose Mourinho, has greater plans for the 24-year-old winger.

Moses has spent the last two years since Mourinho’s return to Chelsea on loan at Liverpool and Stoke, whilst he struggled to make an impression in the first team in his initial season after his arrival from Wigan Athletic in 2012.

Stoke had expressed a desire to bring the Super Eagles striker back to Staffordshire for next season but Hughes has conceded defeat

in the chase, stating a deal is not currently possible due to Mourinho’s plans for the Nigerian.

“I think Chelsea have a view on Victor. What they’re thinking, we believe, is that they would possibly like to keep him. If they go into the market again that could change that idea.

“Victor obviously came to us last year and did exceptionally well. There were a couple of injuries that hampered him unfortunately but he showed enough in his time with us that it made Chelsea very aware of the talent they have and what Victor could offer.”

“It could be that Victor now plays a part at Chelsea.”

s part of efforts to boost industrialisation and curb importation in Nigeria, the Federal Ministry of Industry, Trade and Investment and the National Sports Commission are setting up a joint inter-agency body to explore all avenues of benefitting from the $800 billion annual global sports revenue.

This was part of the decisions reached in an interagency meeting when the Director-General, National Sports Commission (NSC), Alhassan Yakmut led a team from the NSC on a business mission to the Industry Ministry.

The Permanent Secretary

in the Ministry, Ambassador Abdulkadir Musa, told the delegation that Nigeria had come to a point in her economic renaissance where it had to harness abundant raw materials especially from Nigeria petrochemical industrial sector to promote revenue growth and create employment.

He said sports wears were products of cotton and petroleum products which could be produced in Nigeria to meet the needs of the nation’s paramilitary-customs, Immigration, Civil defence, NYSC and a host of others. He insisted that the process of manufacturing these items in Nigeria must receive expedited attention to save National revenue, create jobs as

well as boost the health of citizens through exercise.

He therefore requested the DG to constitute an NSC team that would collaborate with that of his ministry to explore ways of harnessing these opportunities.

Earlier, in his submission, Yakmut said NSC was set to rebrand Nigeria by exploring huge business opportunities available in sports.

He said as huge as Nigeria was and as versatile as her sports men and women, Nigeria benefits nothing from the $800 billion annual global sports revenue, pointing out that revenue from sporting businesses in Nigeria should exceed that of Nollywood, Nigeria’s entertainment industry.

Martins makes MLS All-Star team

• Gerrard, Lampard also included Ifeanyi Ibeh

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former Nigeria international, Obafemi Martins, on Tuesday, was picked for the upcoming MLS All-Star Game against English Premier League side, Tottenham.

Former English internationals, Steven Gerrard and Frank Lampard, were also picked for the July 29 game by MLS commissioner, Don Garber, despite not yet making their league debuts for LA Galaxy and New York City FC respectively.

Martins was however specially selected by football fans who took to social media to vote for their All-Star XI. Martin’s inclusion was through

the ‘More Than A Vote’ competition, a collaboration between the MLS and EA Sports, which the former Super Eagles won because fans scored over a million goals with him on the football-based video game, FIFA 15.

This marks the Nigerian’s second straight All-Star appearance.

Gerrard made his LA Galaxy debut after playing 45 minutes in the International Champions Cup win over Club America last weekend, but he has yet to feature in an MLS fixture.

Lampard, meanwhile, was ruled out of the 4-4 draw with Toronto due to a calf injury, but brings All-Star Game experience with him after he played in the match with Chelsea in 2006,

Martins

before scoring when he featured again in 2012.

The 20th MLS All Star match will be played on July 29, in Commerce City, Colorado.

Other top stars in the All-Star team include Clint Dempsey, David Villa, Kaka, Michael Bradley, and DaMarcus Beasley.

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Re: Things to appreciate about the Igbo

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he article ‘Things to appreciate about the Igbo’ elicited a wide range of response. I may never be able to publish all of the response that came from fans but the following three captured my attention. I must confess that Abdu Abdulahi’s narrative drew tears to my eyes while the outburst of Olutayo serves as huge warning to those Igbo who are not thinking home; who still overlook the motherland and Ayuba’s admonition a advice only a true friend can give.

My Word CLEM AGUIYI

myword@gmail.com 08034747898 (sms only)

Igbo must go: Tell your Igbo brothers in Lagos to go and develop the South East. They are like cockroach. After seizing Ladipo market, the almighty Alaba will follow. We want to know who owns the land? Olutayo: Tel 234 8136946409.

Lagos, Nigeria There are Igbo haters and many more Igbo lovers: Bless you Clem! As a regular reader of your article and as a staunch supporter and friend of the Igbo I want to add that just as the Igbo have many haters , there are numerous people that eternally love them. Many of nonHausa-Fulani oppressed tribes in the North are looking up to the Igbos for leadership. But what the Igbo lack is unity and love .Some unscrupulous individuals within the Igbo are perfidious, treacherous. They betray when it comes to what matters the most to the Igbo man. What we must collectively let every Igbo leader know is that , individual gains no matter how highly rewarding it appears cannot be compared with the collective gains . Rev Sam Ayuba, Anglican Diocese of Kaduna The things to appreciate and emulate about the Igbo: The Saturday Sun, July 4th, 2015, featured an opinion column with the above caption. It was characterized by the writer’s reflective and expressive capacity for deep lamentation, protest, extolment and optimism about the Igbo State of affairs.

A very careful reading of the piece offered me a clear and unbiased understanding of the writer’s primary aim of unveiling the true picture of the Igbo Nation in its giant strive to forge ahead within the league of federating units that have been engulfed into a prolonged crisis of confidence.

Thus, the writer was able to impressively and emotionally fix significant areas of focus for the readers to digest with a view to constructing sound judgments on the critical issues raised as enshrined in the presentation.

The writing was particularly outstanding because of its linguistic strength to communicate effectively with our original mind. Consequently, this impacted tremendously on my psychological make-up, empowering me with the expressive zeal of picking my pen to offer this contribution.

I particularly observed that the choice of the word “appreciate” in the title might have been informed by the writer’s resolve to renew and boost the collective image of the Igbo in the context of ethnic and political supremacy context. In fact, the word appreciate is readily endowed with the lexical power to assume the role of a persuasive agent. In a way, the word appreciate possesses the driving force of engaging the mind in sober reflections on the Igbo.

Mr. Clem Aguiyi’s opening para-

Nnamdi Azikiwe

graph was skillfully organized to deploy his message to the in-depth of our mind, fostering a strong cohesion from the beginning to the end of the writing. To drive home his profound feelings and belief about the Igbo, he meticulously dwelt on historical, social, political and philosophical dimensions to carry the readers along the course of evidence based analysis, justification and verification.

After scrutinizing the entire work, the central themes captured and refreshed my memory on the period that I really appreciated the beauty of Igbo land. My conviction about the productive attributes of the Igbo was consolidated. And of course, my heartfelt pity on matters for which they were innocently persecuted was attracted.

Indeed, “The beauty of Igbo land is unparallel when you come to discover it”. This statement in the fourth paragraph filled my mind with the “spontaneous recollection in tranquility” of those happy and glorious days when I was a corper serving in Abia State, 1998. It was my first encounter with the land and its beauty was laid bare to me. I found myself in a kind of a world with its own idiosyncrasy and felt that Nigeria’s diversity and plurality were blessing at its fullest. The Palm Kernel propelled me to develop and nurture the love of the area. The land fertility was so attractive that I could not resist reflecting on it. I was always lively and excited at the sight of nourishing and appetizing fruits.

How can I forget that friendly weather which vehemently lifted my comfort to greater heights?

Why shouldn’t I celebrate the beauty of the land that accorded me laudable hospitality to transform me from a stranger to a native? Even if no one sees, God is my witness that I can never forget the Nwakamas, Njokus, Omenkas, Onuohas, Mazis to mention but a few. On several occasions, they warmly invited me to their residences

Emeka Odumegwu Ojukwu

Martin Luther King

for special and well prepared variety of food. In fact, they were competing to see me honour their invitation. Oh, I really miss this beautiful land!

With a sincere apology to the writer, I honesty don’t need anybody to teach me any lesson on how hardworking, industrious and enterprising the Igbo people are. During my service at the Oboro Secondary School, Ikwuano Local Government Council, I was both a teacher and a student simultaneously.

I served as a teacher discharging my primary assignment; I was a student in the Igbo School of hard work, industry and enterprise. But unknown to them, they taught me great and indelible lessons of quality human and developmental attributes. I saw the real Igbo in deeds and actions. Believe me; the Igbo can never part way with these noble qualities. The fact remains that today the Igbo have risen to lift the banner of economic and commercial

dominance in Nigeria courtesy of these features. They appear resilient against all odds. They survive the toughest challenges. They succeed where others fail. They bear resemblance to the philosophical assertion of the late Martin Luther King that, “the ultimate measure of a man is not where he stands at the time of comfort and convenience but where he stands at the time of challenges and controversies”.

Behold, the Igbo people have relegated the infamous class society to the barest minimum. Class society, because of its evil repercussions, breeds class antagonism among others. I did not spend two weeks as a corper when I learnt that class society was at its lowest ebb there because careful observations at my disposal proved to me beyond reasonable doubt that the Igbo had marvelously pegged down the gap between the haves and the have nots. But in the far north, class society was and is still the order of the day.

Come to think of it, their collective effort in installing a Due Development Process that generates hard work, industry and enterprise is no longer news. Their ability to integrate them into their personalities is not a hidden agenda. Their vision is not built on individualism but collectivism. They begin from the unknown to the known. They gallantly defy conservatism to arrive at positivism.

They teach themselves the lesson of history before history teaches them its lesson.

The Igbo are famous for their unbreakable community development spirit. It grows from strength to strength to usher in the dawn of a new era orchestrated by unanimous resolve to see, to come and to conquer. I saw this community development spirit making hay while the sun was shining when I was a corper. A dividend of this was the school that I served. Many similar schools existed then to move the society forward. I learnt in my stay the socio-political relevance of the Igbo rested not on their paper qualification or their socio-political portfolio but rather on the level of their community building efforts. In the far north however, the reverse was and is still the case.

It was painful and agonising to see how the Igbo were made a scapegoat in the various ethno-religious crises that had rocked the North in the past.

The perpetuators of their killings and looting of their properties were the undesirable elements of the society.

They were social deviants who did not understand the value of human life.

They seized that opportunity to unleash mayhem on them because they lacked conscience which would have been there to guide them.

Despite that tragedy, the Igbo have unanimously continued to serve as a bridge between the North and the south, between history and its lessons between amalgamated hard work, industry, enterprise, intelligence and development. Who can contest that the Igbo are not bridge builders? Are they not a force to be reckoned with?

Are they not working for the cultivation of the “whole” society?

These are some of the things that we should not only appreciate about the Igbo but also emulate for a better living.

•Abdu Abdullahi of the Inspectorate of Education and Monitoring wrote from Dutse , Jigawa State aaringim2012@yahoo.com

On Marble Many ideas grow better when

transplanted into another mind, than in the one where they sprung up.

Sanctity of Truth

Clem Aguiyi

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

– Oliver Wendell Holmes

WEDNESDAY, JULY 15, 2015

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N150

Re: Things to appreciate about the Igbo

Calibrating voters’ register

he Voters Register or the voters roll is the foundation of the electoral process. The register captures those that meet the constitutional and legal requirement to vote in different elections. Conversely, it excludes those that do not meet the laid down requirement to be on the roll. This means that the voters register will be said to be credible if it captures all those eligible to be on the roll and will be said to be opaque and not credible if a large majority of those that ought to be captured are not captured.

Voters Registration in Nigeria is a constitutional and legal imperative required for the conduct of credible elections. As the foundation of the electoral process, the Third Schedule to the Constitution of the Federal Republic of Nigeria, 1999(as amended) empowers the Independent National Electoral Commission to arrange and conduct the registration of persons qualified to vote and prepare, maintain and revise the register of voters for the purpose of any election under the Constitution.

In Nigeria, the Electoral Management Body has over the years experimented with different forms and models of voter’s registration. These experiments and innovations are aimed at making the voters register credible and acceptable to the generality of the Nigerian people.

However, the Nigerian people are still complaining that the voters register in existence and used for the conduct of the 2015 elections is opaque and requires further surgical operation before the 2019 general elections. The Electoral Management Body on the other hand, insists that the voters register in use may not be perfect but accords with international standards and international best practices.

The truth is that Nigeria has serious challenges with the registration of voters. The first major registration of voters exercise in Nigeria took place before the 1959 general election. At the end of the exercise, a total of 9, 043,404 persons were registered. This represented 29 percent of the population (1952/53 census).

The second registration exercise took place in the transition to civil rule program of the Second Republic between 14 January and 28 February, 1978. The exercise was carried out under the authority of Decree No. 73 of 1977 which authorized the Federal Electoral Commission (FEDECO) to carry out registration or enumeration of voters. A total of 48,633,782 persons were registered.

In the implementation of the transition programme of the Fourth Republic, a nationwide registration of voters was carried out between October, 5-19, 1998. A total of 57,938,945 persons were registered.

From 2002 to 2003, an Optical Mark Recognition (OMR) form was used to complete 70 million voter registrations, but a manual register was also used alongside the electronic registration system. Due to time constraints, not all of the registrations were processed for the 2003 elections. Similarly, the Automatic Finger Identification System (AFIS) was suspended before the elections. Approx-

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Voters card electronic machine recorder

Jega

imately 80 per cent of the people were registered through this exercise.

Subsequent to the 2003 election, electronic servers from the states were moved to INEC headquarters to form a central database. INEC resumed AFIS to check and remove duplicates. Through the process, five million duplicates were discovered and eliminated. Yet, there were problems with the enumeration process. Much of the staff conducting voter registration were poorly educated and hired on an ad-hoc basis. Additionally, 55,000 cameras acquired for photos were not used since the vendor could not supply all 120,000 cameras in a timely manner The Independent National Electoral Commission conducted a pilot registration exercise in 2006 using the OMR forms with photo images. Unfortunately, the staff trained by the Independent National Electoral Commission for the exercise had difficulty shading the forms and this led to a lot of challenges with the exercise. The photo captures had many problems including rechargeable battery problems, slow processing speed, storage difficulties and flash failure and some of the data collected did not match the photo images accompanying them.

However, the Electoral Commission discovered that it could improve on the technology considering the fact that the hardware and software needed for the operation of the machines were already available with the Electoral Management Body and they also had a crop of staff with the requisite experience in handling the OMR forms and the technology involved. On the basis of this, the Independent Electoral Commission decided to settle for the use of the Direct Data Capture Technology for the 2006

registration of voters after carrying out an in house analysis of the processes and procedure of handling the said technology.

Preparatory to the 2007 general elections, the Independent National Electoral Commission conducted the registration of voters between October 2006 and February 2007. The voters’ registration exercise was initially scheduled to hold between 8th October and 14th December 2006. But as at the 10th December 2006, it was estimated that only 10million persons had been registered. Consequently, the exercise had to be extended to the 2nd of February 2007. The people rejected this particular register as not being credible. At the inception of the registration less than 1000 of the Direct Data Capture machines as against the 33, 000 promised by the Commission had arrived and been deployed. Some of the registration officers were trained using drawings of the machine. The machines broke down at will as there were no backups.

Some of the challenges associated with the voters register used in the conduct of the 2015 general elections are the result of the deficiencies encountered by the Electoral Management Body when it carried out the registration of voters in 2010 and 2011. There were serious challenges relating to the quantity and quality of the Direct Data Capture Machines imported and used for the exercise. Many registration centers did not receive adequate supplies of the DDC machines, including toners and lamination products.

In many of the registration centers, the finger print capturing component of the DDC machines did not function properly. Moreover, the generators available to the registration officers were limited and they had problems and challenges powering the machines and in some instances relied on community leaders and politicians to power and fuel the machines.

The direct implication of all these is that eligible voters ran from pillar to post looking for Direct Data Capture Machines. Some moved from their Local Governments to other Local Governments in search of the machines. They registered wherever they found the machines. Some of the Political Parties capitalized on the shortage of the ma-

chines and compromised some of the INEC Staff and carried out opaque registration in their homes.

The former Chairman of the Independent National Electoral Commission Professor Attahiru Jega acknowledged the challenges with the current voters register. He stated that the Commission had barely six months within which to do the biometric data registration. The Commission therefore took about three months to prepare and, then about three additional months to do the procurement.

For the 2015 general elections, the Independent National Electoral Commission registered a total of 68, 833, 476 voters and told Nigerians that over four million persons were involved in double registration and their names deleted from the register. The Smart Card Readers also stopped other double registrants and impostors from compromising the electoral process through biometric authentication and verification.

Certain issues have over time dominated the registration of voters in Nigeria. For the 2010 and 2011 registrations the Independent National Electoral Commission acknowledged the challenges posed by the inadequacy of the quantity and quality of the DDC machines.

Specifically, the finger print capture component of the DDC machines. The late arrival of the Direct Data Capture Machines and lack of back up in terms of technicians created serious problems.

There was also lack of up to date demographic report of most states of the federation. The registration did not take into consideration population movements as a result of ethnic and religious conflicts, urbanization and other demographic challenges. This led to overcrowding in so many of the registration centers and the idling away of some of the machines and staff in other centers.

As Nigeria moves towards the 2019 elections, the time to carry out continuous voter’s registration and further clean up of the existing register is now.

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