Wednesday, july 22, 2015 binder1 by Newtelegraphonline

PDP reps warn against extension of resumption date the mega city

Searching for where to play }21

PPMC revokes three fuel marketers' licences over diversion Adeola Yusuf and Johnchuks Onuanyim

he Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum

Corporation (NNPC), has revoked the Bulk Purchase Agreement (BPA) licences from three marketers. The affected marketers are Funo Alfa, Organiser West Africa, and Rich Oil. The sanction was "with

immediate effect." The NNPC, in a statement by its spokesman, Mr. Ohi Alegbe, in which it announced the punishment, threatened to clamp down on any oil marketer found to be involved in

products' diversion. The warning came against the backdrop of persistent tightness of supply being experienced in the country despite huge load-outs from PPMC depots by both major and

independent marketers. This situation, NNPC said, had been traced to diversion. "In a bid to sanitise the fuel distribution and supply system and eliminate CONTINUED ON PAGE 2

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Wednesday, July 22, 2015

Court grants Oronsaye bail on self-recognition Oronsaye

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Vol. 2 No. 518

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Leadership crisis: Reps, PDP chieftains sue Dogara, Akpabio

Election petition: INEC to punish indicted officials

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Zakari

Aregbesola

B'Haram: World Bank to rebuild N'East with $2.1bn

lI'm ready to negotiate with insurgents to free Chibok girls –Buhari }2 Change of guard

Former Chief of Defence Staff, Air Chief Marshal Alex Badeh (left), handing over to his successor, Maj.-Gen. Abayomi Olonisakin, in Abuja…yesterday.

Former Chief of Naval Staff, Vice Admiral Usman Jibrin (left), handing over to his successor, Rear Admiral Ibok-Ete Ibas, in Abuja…yesterday

Jonathan's ex-CSO, Obuah, opens up lEx-president's security aide must not die in detention, says Fayose

News

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

B'Haram: World Bank to rebuild N'East with $2.1bn Anule Emmanuel Abuja

he World Bank yesterday unfolded a comprehensive plan for a Marshal Plan that will gulp $2.1 billion for the rehabilitation of the NorthEast ravaged by the Boko Haram insurgency. The bank, at a meeting in Washington DC with representatives of the Bill and Melinda Gates Foundation and the World Health Organization

(WHO) which was also attended by President Muhammadu Buhari, said apart from rebuilding the region in terms of infrastructure, priority would also be given to the resettlement of internally displaced persons (IDPs). According to the United Nations, at least 1.5 million people have been sacked from their homes since Boko Haram launched its insurgency in 2009. The meeting was part of activities lined up for Buhari, who on Sunday began a four-day visit to

the United States. The $2.2 billion already earmarked by the World Bank will be spent through its International Development Agency, which gives low interest loans to government. The first 10 years will be interest-free, while an additional 30 years will be at an interest rate lower than prevailing capital market rate. A statement by Buhari's Special Adviser on Media and Publicity, Mr. Femi Adesina, said the World Bank was eager to quickly give

succour to the people of North-east, who have been at the mercy of the insurgency that has killed over 20,000 people. WHO is also to invest $300 million on immunisation against malaria in Nigeria, while the Bill and Melinda Gates Foundation will collaborate with Dangote Foundation to ensure that the country maintains its zero polio case record of the past one year, if the effort is sustained for another two years. Buhari, who also addressed investors in

President Muhammadu Buhari (left) and the United States Secretary of State, Mr. John Kerry, during a joint press conference on the fight against Boko Haram, in Washington D.C…yesterday.

Jonathan's ex-CSO, Obuah, opens up Emmanuel Onani Abuja

etained former Chief Security Officer (CSO) to erstwhile President Goodluck Jonathan, Mr. Gordon Obuah, yesterday spoke out on his travail with the Department of State Services (DSS). Obuah, who has been in detention since last week, told reporters in Abuja at a press conference organised by the secret police that he was held so as to give account of his stewardship under Jonathan. The press conference was organised against the backdrop of report that Obuah, who was held incommunicado since his detention, fell ill and died as a result of the hunger strike he allegedly embarked on to protest his alleged denial to his family, lawyers and medications for his diabetes. But he dismissed report of being ill treated and of dying. He said he was hale and hearty and remained

a member of staff of the DSS. According to him, having completed his tour of duties as Jonathan's CSO, the DSS wants him to give account of his stewardship. Obuah, who was calm throughout the brief period of the briefing where he was not allowed to answer questions, described the DSS as a responsible organisation. He said: "Let me use this opportunity to thank all Nigerians and members of my family, who have expressed serious concerns for the past six days because of the prevailing situation between my office and I. "This morning, my attention was drawn to the fact that I had died in detention. This has caused very serious anxiety within the polity. "I'm healthy; I'm a staff of the DSS, and having completed my services to the past president, the Service feels that I should give account of my service. "So far, there is no adverse situation and I'm

optimistic that Nigerians will be availed the outcome of the situation. "Nigerians should be assured that the DSS is a very responsible service and I believe that nothing adverse will be done to my person since I'm a member of the DSS and I'm still in service. I have limitations on addressing the press." Efforts by New Telegraph to get more details on the Obuah detention were futile yesterday as the DSS is yet to announce a replacement for its former spokesperson, Mrs. Marilyn Ogar. Obuah spoke just as Ekiti State Governor, Mr Ayodele Fayose, warned the Federal Government against allowing Jonathan's former security chief to die in detention. The governor, in a statement by his Special Assistant on Public Communications and New Media, Mr. Lere Olayinka, Fayose said it was unlawful for Obuah to have been detained since July 16 without a court order. “We read in the newspapers that Obuah was

denied access to his doctor, lawyer and family members – and his lawyer claimed on Sunday that Obuah was also denied his medications for hypertension and diabetes. Today, we have heard that Obuah fainted yesterday and had to be rushed to the hospital for treatment, prompting rumour of his death. “Even when he was made to address the press today (yesterday), he looked frail, and was barred from answering questions from journalists, ostensibly for security reasons. “This is not democracy! Democracy is about the rule of law and no one should be dumped in detention, without any reason, without any court order for five days as being done to the CSO. “If there is anything the (former) CSO did against the law, he should be taken to court because no institution in Nigeria is above the laws of the land and no one will be allowed to return Nigeria to the era of dictatorship,” Fayose said.

Washington yesterday, welcomed the World Bank's Marshal Plan for the North-East. He urged the bank to send a team to work in concert with that from the Federal Government for a proper assessment of needs could be done before the beginning of the rehabilitation. Buhari, at another occasion yesterday, dismissed investors' fears that his administration would roll back the privatisation programme embarked by his predecessors, especially in the power sector. He told prospective investors at a meeting in Washington that rather than do that; he would expand the scheme to other sectors of the economy. He urged the entrepreneurs to use the opportunities offered by the liberal trade and investment climate in Nigeria to do profitable business with the country. Buhari, at a business forum organised by the United States Chamber of Commerce and The Corporate Council on Africa, said his administration would continue with the Federal Government’s privatisation programme in various sectors of the economy. According to him, the privatisation scheme will be expanded to include the nation’s aviation, telecommunication, energy, gas, solid minerals, health, and infrastructure development sectors. He said: “It is my intention to create the necessary environment for future investment in Nigeria. “We are the most populous nation and largest market in Africa with vast human and natural resources and blessed with abundant young skilled workforce “We are, therefore, proud candidates to become the destination of choice for United States investments in Africa. I will work assiduously to welcome new investors to our country. “I would like to remind you all that we are continuing in a major

privatisation programme with sectors ranging from telecommunication, energy, gas, solid minerals, aviation, health and infrastructural development, but with improved moral architecture. “We will also simplify visa procedures based on the principle of reciprocity." The president, according to a report by the News Agency of Nigeria (NAN), called on the business communities in the US and Nigeria to exploit the excellent political relations between the two countries to expand trade and investment, as well as enter into joint venture projects in priority sectors of the Nigerian economy. He identified power generation, gas, agriculture value chain, mining, health and tourism, among others, as the sectors needing expansion. He said: “While I recognise the pivotal role of government in facilitating and promoting economic growth, the private sector must assume an increasing role as part of the engine of growth. “We will welcome genuine investors, who are willing to come to Nigeria for solid mineral exploitation.” He pledged that his administration would carry out its key campaign promises including the creation of employment opportunities for millions of Nigerian youths. “Generating employment was one of my key campaign promises. I will do my best to keep this promise. “There is no other way to expand economic opportunities and create employment opportunities for millions of our youths than boosting domestic manufacturing, undertaking infrastructural development and industrialisation. “Let me repeat, Nigeria will partner genuine investors who are willing to join us to achieve our economic objective and, at the same time, realize handsome returns to recoup their inCONTINUED ON PAGE 5

PPMC revokes three fuel marketers' licences over diversion CONTINUED ON PAGE 2

the queues at filling stations across some cities in Nigeria, the (NNPC) has warned that henceforth, any oil marketer found to be involved in products’ diversion will have its Bulk Purchase Agreement with its mid-stream subsidiary, the Pipeline and Products Marketing Company (PPMC), revoked," the

statement said. It warned marketers to desist from products’ diversion, hoarding, and other sharp practices, as it would not hesitate to wield the big stick against errant marketers. It added that it is closely monitoring the market, stressing that the withdrawal of lifting licences of errant marketers is a continuous exercise.

News

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Leadership crisis: Reps, PDP chieftains sue Dogara, Akpabio Philip Nyam and Tunde Oyesina Abuja

he leadership crisis in the House of Representatives has taken a different dimension as two lawmakers have sued Speaker Yakubu Dogara, seeking an order compelling the speaker to recognise principal officers choosing by the All Progressives Congress (APC) for the House. Also, two chieftains of the Peoples Democratic Party (PDP), Hon. Alaye Don Pedro and Dr. Okechukwu Ibeh, yesterday approached a Federal High Court sitting in Abuja seeking an order to

prohibit nomination of former governor of Akwa Ibom State, Senator Godswill Akpabio for the post of Minority Leader in the eighth Senate. In the suit no FHC/ ABJ/CS/625/2015 before the Federal High Court, Abuja, Hon. Abubakar Lado Abdullahi (APC, Niger) and Hon. Olajide Abdul Jimoh (APC, Lagos) asked the court to compel the Speaker of the House of Representatives, Dogara; Deputy Speaker, Lasun Yusuf; Clerk of the House, Sani Muhammed Omolori to announce the list of principal officers forwarded by the APC to the Speaker as representatives of the party on the Body of Principal Officers of the House.

According to a copy of the originating summon served on the defendants last Thursday, July 16 and obtained by our correspondent, the APC lawmakers asked the court to determine whether Section 14 of the Nigerian constitution (as amended) on federal character applies to the internal workings of the National Assembly and, in particular, the House of Representatives with respect to the appointment of principal officers and, in particular the positions of Majority Leader, Deputy Majority Leader, Majority Chief Whip, and Majority Deputy Chief Whip. The APC lawmakers argued that since, "it is an indisputable fact that

the positions in question are party positions, that is, principal offices of the APC, albeit that they concomitantly are also principal positions within the House of Representatives. Consequently, the 1st and 2nd Defendants (Speaker and Deputy Speaker) shall in accordance with Article 9.2 of APC constitution, which states, "members of the party shall be obligated to affirm the party's aims and objectives", implement the party's aims as contained in the party's nomination letter." The House had gone into a forceful break on June 24 after lawmakers engaged in a free-for-all on the floor over the refusal of the Speaker to read the

party's nomination letter . In the nomination letter dated June 23, the APC had asked the Speaker to announce Gbajabiamila (South-West) as the House Leader; Alhassan Ado Doguwa (NorthWest) as Deputy Leader; Mohammed Monguno (North-East) as the House Whip; and Pally Iriase (South-South) as the Deputy Chief Whip. But the North-East and SouthSouth later swapped positions. Meanwhile, the Consolidation Group loyal to Dogara has adopted two supporters of defeated speakership candidate, Hon. Femi Gbajabiamila, as House Leader and Chief Whip respectively. The Majority Leader

L-R: Managing Director, Pivot Engineering Company Limited, Mr. Soji Akintayo; Executive Director, Honeywell Group, Mr. Obafemi Otudeko; Chairman, Honeywell Group, Mr. Oba Otudeko and Managing Director, Honeywell Flour Mills Plc, Mr. Lanre Jaiyeola, at the graduation ceremony of the 9th Class, Honeywell Excellence Programme in Lagos…yesterday. PHOTO: SULEIMAN HUSAINI.

Election petition: INEC vows to punish indicted staff Tunde Oyesina ABUJA

he Acting Chairman of the Independent National Electoral Commission (INEC), Mrs Amina Zakari, yesterday said that any staff of the commission indicted by the elections petitions would be severely dealt with, in line with the law. Speaking at the public presentation of the final report on the 2015 elections organised by Civil Society Situation Room in Abuja, Zakari stated that: "There have been many conversations about the post-election tribunals and judicial proceedings. Before we discuss them further, I would like to provide some facts. In 2007, a total of 1,290 petitions were filed in the tribunals. In 2011, it was 732

while 663 petitions were filed in 2015. The reduction is driven by improvement in our electoral process but we would like to see a continued downward trend. "I would like to make it clear that electoral malpractices will not be tolerated as the commission will continue to drive transparency and effectiveness. Any INEC official found wanting in the tribunals will be punished to the full extent of the law.” The INEC boss also spoke on the challenges the commission faced in the execution of the 2015 general elections. According to her, "The smart card readers had widely reported challenges in the presidential elections which we worked to reduce in subsequent elections, but there is still work to be done. "The commission's ef-

fort at constituency delimitation and polling units review were met with stiff resistance from some stakeholders, who erroneously felt that the move was too close to the general elections and meant to favour some political parties, regions, regions or individuals. "In view of its sensitive nature, the commission shelved that in order not to serve as a distraction to the elections. Contentious as these two issues may be, they need to be addressed through wider consultations and an earlier timetable to ensure all stakeholders understand the nature and objective of the exercise.” Zakari said INEC will use the Kogi and Bayelsa governorship elections as opportunity to continue to display improved process

and rigor. She said: "We are serious about our Continuous Voter Registration (CVR) process. We are going to embark on the CVR exercises in Kogi and Bayelsa. Those registered will have their cards printed and in a timely fashion, voters’ transfers will also be supported for those two states. "In conducting elections in both states, the commission will apply lessons learnt from the previous elections with the Stand Alone Governorship elections in Anambra, Ekiti and Osun states and the general elections." Presenting the report, the Executive Director of Policy and Legal Advocacy Centre (PLAC), Clement Nwankwo, called for the amendment of the constitution to bring Resident Electoral Commissioners

(RECs) under the control and direction of INEC headquarters through appointments of State Directors of Elections to replace the RECs. They also recommended that the executive and legislative arms of government should resolve the disagreements over the proposed amendments to the constitution and ensure that proposals seeking to improve the electoral process receive the attention they deserve. The Situation Room also said that INEC should immediately commence arrangements to reorganise constituencies and polling units in Nigeria which they said is long overdue. Also, it added that the commission should extend the period for the conduct of a re-run election from 7 to 21 days.

is Hon. Alhassan Ado Doguwa from Kano State (North-West) while Hon. Pally Iriase from Edo State (South-South) is the Chief Whip. In the Senate, the PDP chieftains are contending that nomination of Akpabio for the position of principal officer of the Senate will be in breach of section 3(2) of the Senate Standing Rule. The plaintiffs argued that Akpabio was a first timer in the Senate and was by the Senate rule not qualified to hold the office for now. They, however, applied for an order of the court to stop Senate President Bukola Saraki from accepting nomination of Akpabio so as to protect the sanctity of the Senate and the breach of its own laws. Cited in the suit filed by Bankole Akomolafe are the Senate President and Akpabio as defendants. Other defendants in the suit are the 16 other senators that constituted South-South caucus in the Senate. In a motion ex-parte argued by their counsel yesterday, they asked the court to restrain the defendants from selecting or appointing the minority leader of the Senate by a procedure in breach of order 3 (2) of the Senate Standing Order 2015 as amended pending the determination of their suit. They also asked for order prohibiting the Senate President from accepting, recognising or appointing the Minority Leader by a procedure in breach of order 3(2). In two separate affidavits in support of their motions, they claimed that new members of the Senate are excluded in holding any principal office in the Senate. They averred that PDP being a major minority party has zoned the position of the Senate minority leader to the South-South and has been accepted by the South-South Senate caucus. The plaintiffs also averred that PDP took into consideration the ranking of the PDP senators from the zone and that the South-South Senate Caucus is bound to select or appoint the minority leader in compliance with order 3(2). They also averred that a larger PDP caucus in the Senate has concluded plans to subvert the mandatory provisions of orders 3(2) by a resolution to appoint minority leader in breach of the Senate law. The trial judge, Justice Gabriel Kolawole will this morning rule on the exparte application.

Travel Advisory

WEDNESDAY, JULY 22, 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

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

News

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

DHQ to set specific timelines to rout Boko Haram –CDS Emmanuel Onani

he Chief of Defence Staff (CDS), Major General A. G. Olonisakin, has announced the plan of the Defence Headquarters (DHQ), to set specific timelines for the counterinsurgency and counterterrorism operations in the North-East. According to him, "A multi-agency approach is needed in combating the security challenges. We will look at ways to strengthen operations.

"We will set specific timelines, and look at gaps for purposes of actionable intelligence in operations." The two-star General, who was appointed on July 13 by President Muhammadu Buhari as the 16th CDS, pledged that "the Military Command and Control Centre (MCCC), will be strengthened with the necessary equipment for greater success." Olonisakin stated this yesterday in Abuja, at the formal handover ceremony between him and his predecessor, Air Chief Marshal Alex Badeh (rtd).

The CDS charged the Armed Forces to redouble their efforts toward tackling the Boko Haram insurgency and other security challenges confronting the nation. He said he will be demanding more from soldiers, ratings and air men, adding that the Armed Forces will be more proactive in performing their constitutional role of safeguarding the sovereignty of Nigeria, and also defending the country against external aggression. He said: "One of the

greatest challenges to our national security is insurgency and terrorism in the North-East. "We must redouble our resolve at addressing the security challenges; we will be proactive in providing necessary policy directions in the fight against insurgency. "I am going to demand more from our Armed Forces," he said. He also vowed that oil theft and other acts of criminality assaulting the nation, will be decisively tackled. This is even as he prom-

ised that "Capacity development will be given priority across the services. He further stated that "adequate attention will also be given to the welfare of troops." Operations, he insisted, will be given new timelines and directions, to achieve set targets. Earlier, the outgone CDS, Badeh, thanked former President Goodluck Jonathan, for appointing him in that capacity in January 2014, even as he

'I'm ready to negotiate with insurgents to free Chibok girls' CONTINUED FROM PAGE 2

New Commandant-General, Nigeria Security and Civil Defence Corps, Mr. Abdullahi Muhammadu (left); his predecessor, Dr Ade Abolurin (right) and others, at the hand-over ceremony in Abuja…yesterday. PHOTO: NAN.

PDP Reps warn against extension of resumption date

lOyegun: Peace is in sight Philip Nyam and Cajetan Mmuta

eoples Democratic Party (PDP) members in the House of Representatives yesterday warned against further postponement of the resumption of the legislature. They deplored the series of adjournments the National Assembly had suffered since its inauguration on June 9 as a result of the crisis in the governing All Progressives Congress (APC). The lawmakers, at a press conference in Abuja, accused the APC of taking Nigerians for a ride. Their warning came on a day APC National Chairman, Chief John OdigieOyegun, raised hope of an imminent end to the crisis in the party caused by disagreement over the leadership of the National Assembly. The Senate and the House, which ought to resume yesterday, have extended the date for resumption of plenary sessions to July 21, apparently to give

APC more time to resolve its internal crisis. But leader of the PDP Caucus in the House, Hon. Leo Ogor (PDP, Delta), dissociated his party from the latest postponement. He described the postponement as a manifestation of the ruling party's unpreparedness to govern, adding that the delay in the resumption of full legislative business is having a negative impact on the National Assembly and "becoming very embarrassing." He said the new resumption date was not negotiable. "The new resumption day, we want to state with all emphasis, that on that day it should be a day that is non-negotiable because resumption must take place on that day "We are ready to work, we were elected to come and legislate for our people and there are issues that have started having some level of negative impact, even in the society," he said. He attributed the inability of the parliament to intervene in some of the un-

folding issues in the polity, including the raid on houses of the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd) to the several postponements and called on the APC leadership to immediately "put its house in order." Ogor berated the Department of State Services (DSS) for alleged interference in political matters. His criticism came just as Rivers State caucus in the House, in a petition to the DSS dated July 16, alleged plans by the secret police to persecute, coerce and intimidate electoral and judicial officers involved in to 2015 general elections held in the state and the election petitions that resulted from disputes over the elections. It said the petition was based on a report that DSS "selectively invited State Resident Electoral Commissioners (RECs), including the Rivers State REC and other INEC officials as well as members of the various panels handling the elections for questioning, with a view to directly or indirectly coerce and

intimidate them and influence the outcome of the various petitions presently before the Election Petitions Tribunals.” Meanwhile, Oyegun yesterday said the APC was striving to resolve the crisis arising from the dispute over the leadership of the National Assembly. He told reporters yesterday in Benin that the National Executive Committee (NEC) of the party would meet this week to decide on the matter. He stated that the solution was expected to “address the issue of indiscipline but at the same time create an environment that everyone within the party will find very comfortable to work with.” However, he said inasmuch as the party had accepted as a reality the emergence of Senator Bukola Saraki as the Senate president and Hon. Yakubu Dogara as House speaker against the wish of the APC leadership, it would take steps to instill discipline among party members.

expressed appreciation to President Buhari for keeping him more than a month. Meanwhile, similar ceremonies took place at the Nigerian Navy and Air Force headquarters, where the former Chiefs, Vice Admiral Usman Usman Jibrin (rtd) and Air Marshal Adesola Amosu, handed over to their successors – Rear Admiral I. E. Ibas and Air Vice Marshal S. Abubakar, respectively.

vestments “There is more to Nigeria than oil. This is why I will continue to stress the need for increased United States' investments in our non-oil sector." Buhari reassured investors that his administration would reduce waste in the management of the Nigerian economy through prudence, accountability and good governance, as well as respect for the rule of law, strict compliance with and observance of contractual agreements. According to him, Nigeria has huge economic potential that required heavy funding that couldn’t be sourced locally. “In this regard, I want to use this platform to encourage United States foreign investment and funding agencies such as Overseas Investment Corporation and the United States Export–Import Bank to increase access to capital and funding of such businesses on favourable terms. “Nigerian potentials are already being exploited,” he said. Chairman, Corporate Council on Africa, Mr. Paul Hinks, expressed the readiness of American investors to do business with the new government in Nigeria. He, therefore, invited Buhari to chair the council’s summit scheduled to hold in Ethiopia in November. Buhari, also yesterday, expressed his commitment to restore peace in Nigeria, saying nothing would work in the country except it is secure. Speaking during an interview with Christine Amanpour, broadcast by CNN, he said his administration would step up efforts to rout Boko Haram from the North-East and kidnappers and oil thieves from the South. He also said he would go after any individual found to be corrupt in the country, irrespective of the

person's relationship with him. Answering questions on whether his anti-corruption fight would spare his party men, Buhari said: “I guess I have to go after anyone found to be corrupt. There isn’t going to be any party member (APC) or any personality that can escape justice.” Responding to issues on whether his government would negotiate with the Boko Haram sect for the release of the abducted Chibok girls, he said: “I cannot be against it. I told you our main objective as a government is to secure those girls safe and sound back to their schools and rehabilitate them to go back to normal life.” Expressing caution on the authenticity of leadership of the sect coming forward for negotiation, the president said his administration would have to be careful about the credibility of various Boko Haram leaderships. He said he was aware of the expectations of Nigerians of his government and was doing everything not to disappoint them. But he cautioned against hasty assessment of his government's ability to deliver on its campaign promises, saying it is too early in the day to assess him as he has over threeand-a-half years to fulfil his promises. He also said his administration would probe allegations of human rights abuse against the military fighting Boko Haram. “I have just mentioned that under Lake Chad Basin Commission, we have agreed to form a multinational joint task force, so whatever happened before that decision was taken, we have to allow further investigations to verify the allegations of human rights abuses and I am sure you must have known the decision taken by the Federal Government of Nigeria in changing the Military Command,” he added.

News

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Alleged money laundering: Court admits Oransaye to bail Tunde Oyesina ABUJA

he Federal High Court sitting in Abuja yesterday admitted a former Head of Civil Service of the Federation, Mr. Stephen Oronsaye, to bail on self recognisance. The court, however, admitted the second accused person, Osarenkhoe Afe, to bail in the sum of N50 million with two sureties in like sum. The court also ordered that one of the surety must be a civil servant, serving or retired and not less than Grade Level 16, while the other must be an entrepreneur who has a landed property within Abuja which should be commercial or residential and must worth N75 million. The court added that the entrepreneur must also produce his tax clearance for the past five years. Both sureties are to swear to an affidavit of means and produce two passport photographs. The court also directed that if the second accused person cannot meet his bail conditions before July 27, he should be re-

manded in Kuje prisons. The Economic and Financial Crimes Commission (EFCC) had on July 13 arraigned Oronsaye and Afe on charges bothering on money laundering. The accused persons had pleaded not guilty to the charge when it was read to them. The court consequently adjourned to hear the accused bail application and further released them to go home and come back on the next adjourned date. At the resumed hearing yesterday, counsel to Oronsaye, Kanu Agabi (SAN) prayed the court to

grant the accused persons bail on self-recognition. Prosecuting counsel, Rotimi Jacobs (SAN) did not oppose the bail applications on ground that the court had earlier after the accused persons’ arraignment, released them to their lawyers upon an undertaking that they would be produced in court on Tuesday. He, however, opposed the request by the defence counsel, that the accused persons should be granted bail based on self-recognition. Jacobs insisted that the court should impose conditions that would ensure the accused persons’

attendance in court for their trial. Ruling on the bail application, the trial judge, Justice Gabriel Kolawole admitted Orosanye to bail on self-recognition but imposed fine on Afe. While adjourning the matter till October 5 for mention, Justice Kolawole said he will return the case file to the Chief Judge of the Federal High Court for re-assignment. Earlier, the Chairman of the Pension Reform Task Team, Abdulrasheed Maina sent his counsel, Esther Uzoma, to court to debunk the allegation that he was at large. Although Maina was

not a party in the 24-count charge, however, his name appears in many of the counts as an accomplice who is on the run. Uzoma told the court that it was unfair to describe her client as being at large when he was never invited by the EFCC since 2011 when the anti-graft agency started taking statements from people concerned. But the prosecuting counsel however insisted that Maina had been at large. He prayed the court to extract an undertaking from Uzoma to the effect that she would produce her client in court.

Though, Uzoma agreed to accept service for the charges on behalf of her client but she insisted that the EFCC should follow the rules of the court on how to bring Maina boss to court. The anti-graft agency is prosecuting Oransaye and other accused persons for allegedly conniving in defrauding the Federal Government to the tune of N118,992,201.6 between March 2010 and December 2011. The fraud was allegedly perpetrated under the guise of paying the money in tranches for the contract of biometric data between the period.

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

29oC 23oC Rain Storm L-R: Group Chairman, Cornerstone Insurance Plc, Mr. Adedotun Sulaimon; Group Managing Director, Mr. Ganiyu Musa; Vice-Chairman, Mr. Richard Ikiebe and Director, Mrs. Ndidi Okonkwo Nwuneli, at the company's Annual General Meeting in Lagos....yesterday. PHOTO:GODWIN IREKHE 23oC 11oC Rain Showers

21oC 17oC Storm

32 C 22 C Partially Cloudy

29o C 22oC Isolated Storms

31o C 21oC Thunder Storms

27oC 22oC Storm

34oC 24oC Partially Cloudy

29o C 23oC Thunder Storms

Bail-out: Osinbajo, NGF chairman meet over CBN loan Anule Emmanuel Abuja

ice-President Yemi Osinbajo and the Chairman of the Nigerian Governors’ Forum (NGF), Alhaji Abdulazeez Yari, yesterday met behind closed doors to discuss the modalities of the bailout recently approved for states by the Federal Government. Briefing State House correspondents after the meeting at the presidential villa, Governor Yari said the discussion centred on the Central Bankpackaged special intervention fund approved by President Muhammadu Buhari recently. Government had approved the bailout to assist states deal with the problem of unpaid public sector salaries. About $2.1 billion dividend paid to the Federation Account by the Nigerian Liquefied

Natural Gas (NLNG) Company and a CBN-packaged special intervention fund was shared among the three tiers of government. The CBN intervention is meant to be a soft loan to be made available to states for the purposes of paying backlog of salaries. Yari, who is also the Governor of Zamfara State, said he met Osinbajo in order to find out how far the government had gone on the CBN planned intervention. He said he had received the brief from the vice president and would be waiting for the CBN Governor, Godwin Emefiele, who is currently on the entourage of the president to the United States, to return and take action. The governor said: “We discussed about the issue of the special intervention funds. In our last meeting with the president, we agreed in the National Economic Council

(NEC) that there will be a special intervention from the Federal Government for the states that cannot pay workers’ salaries. “So, I followed up with the Chairman of the NEC (the Vice President) to know how far they have gone with the Central Bank of Nigeria. “This issue of unpaid salaries is not only for the states, even the Federal Government is suffering the same thing. “Therefore, we follow up to know how far they have gone with the CBN Governor and now we have gotten the brief but the CBN governor is in Washington and immediately he comes back, we are going to take up the matter to see the end of issue of unpaid salaries to the workers.” Speaking on terrorism, Yari said a lot of grounds have been covered in the war against Boko Haram sect.

He said members of the sect could no longer be found in any forest in Borno, Yobe and Adamawa states, unlike what was applicable before now. “The issue of insurgency is a problem of all. Now, the Boko Haram members cannot be found in any forest, or in any local government among the occupied local governments in Borno, Yobe or Adamawa states. You cannot find them. “So, what we are now suffering is a kind of guerrilla war, checking the bombs, dislodging the suicide bombings and what have you. “But to see a group of 100 or 200 as Boko Haram members to confront with our military, they cannot be found. So, the government and the security agencies are doing their best to ensure that peace is restored, not that these things started under one year, two years.

“We are working. It is the responsibility of our government to ensure security of lives and property of the people. The issue of Boko Haram is number one that Mr. President is discussing with the President of the United States and the supports he is going to give Nigeria to ensure that the issue of insurgency comes to an end. “Government is going to put machinery in place, most especially the military and security, to ensure that the insurgency comes to and end,” the governor stated. Yari also talked about the incidents of lead poison in his states and the steps being taking to address the problem. He said his government was working with some international groups to educate the youth on how best to go about mining without causing harm to themselves.

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

News

NATIONAL

Aero makes air return over burst tyres Wole Shadare

n Aero Flight NG 127 made emergency landing back to Murtala Muhammed Airport 2 shortly after take-off yesterday evening. According to a passenger, who was on board the aircraft and who called New Telegraph on the telephone, the incident affected one of the wings

of the plane. The source, who declined to give her name, said the aircraft had to go on an emergency landing back to Lagos, adding that on landing, the pilot announced that one of the wheels had been lost. “It couldn’t move further from the runway. So, buses came to pick the passengers from the runway. We detected that the wing of the plane was

damaged and alerted a hostess. The pilot lost control, but thank God we landed safely.” The airline in a statement said the flight, NG127 from Lagos to Abuja made an air return as a result of a burst tyre, which it said occurred just as the airplane was lifting up. The airline said the pilot did the right thing by not trying to abort the

take-off, stressing that he controlled the airplane into the air and following all trained procedures, he brought the plane back to a safe landing. It stated that at no time during all these were the passengers’ lives at any risk. It would be recalled that the sector had witnessed incidents in the last two weeks, raising the adrenalin of not only

the travelling public, but those of stakeholders and other concern citizens. Just last week Saturday, one of the First Nation’s airplanes was taxiing from the runway to Murtala Muhammed Airport Terminal Two (MMA2), to disembark passengers while the other airplane was taxing to take off to Port Harcourt Airport from the same terminal when they hit each

other, causing substantial damage to the wings of the two planes. The Nigerian Civil Aviation Authority NCAA has confirmed the air return made by Aero Contractors plane from Abuja Tuesday afternoon. According to a statement from Mr Fan Ndubuoke, general manager, public affairs of NCAA, the aircraft which took off from the MMA2 at about 3pm to Abuja from Lagos developed technical problem and made an air return as the normal procedure.

Boko Haram: IGP promotes officers post-humously Emmanuel Onani Abuja

or displaying “courage and gallantry”, the Inspector General of Police (IGP), Mr. Solomon Arase, has approved the posthumous promotion of three officers of the Yobe State Command, who died in active service. A statement by the Force Public Relations Officer (FPRO), Mr. Emmanuel Ojukwu, a Commissioner of Police, reads: “The IGP salutes the courage and gallantry displayed by officers of the Yobe State Police Command in containing the menace of insurgency in the state. He is highly pleased that in spite of imminent challenges, the officers exhibited a high sense of patriotism and dedication to duty. “While regretting the death in active service

of three officers in the unfortunate incident of Monday July 20, 2015, the IGP observed that but for the indomitable spirit, sacrifice and professionalism of the deceased officers, the terrorists would have detonated the explosives in a high profile target. “To further consolidate the commendation, the IGP has approved the posthumous promotion of the deceased officers. “He has also ordered the Medical Department to foot the medical bill of the injured officer. In addition, four children each of the deceased officers will be offered scholarship up to secondary school level while the families will be afforded priority in the budding Police Housing Scheme. “Similar gesture will be extended to other officers who paid the supreme sacrifice in the course of fighting insurgency.”

UPP wants Buhari to recover stolen funds Yekeen Nurudeen Abuja

he United Progressive Party (UPP) has urged President Muhammadu Buhari to as a matter urgency when he returns from his official visit to the United States of America (USA) to constitute relevant agencies of government that would embark on the process of recovering all illegal acquisitions by some Nigerians and their agents. The party, in a state-

ment, issued in Abuja, yesterday by its National Chairman, Chief Chekwas Okorie, said all acquisition by some Nigerians and their agents that can be traced whether in cash, stocks, real estate or any other form should be recovered by the agencies. “As we look forward to the safe return of the President and his delegation to continue the arduous task of rebuilding Nigeria, we urge him to speedily constitute as well as strengthen the relevant agencies of government.”

Director General, Voice of Nigeria (VON), Mr. Sam O. Worlu (right), with Director General, Radio Deutsche Welle (Germany), Mr. Peter Limbourg (beating the talking drum), after a meeting on the review of the Memorandum of Understanding (MoU) between VON and Radio Deutsche Welle at the Broadcasting House, Ikoyi Lagos...yesterday

CSOs call for Lamorde’s sack lThey’re a group of misguided elements – EFCC

Emmanuel Onani Abuja

group of protesters under the aegis of Coalition of Civil Liberties and Equity, have called for the sack of the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Lamorde.

Africa’s development – is the economic philosophy first developed by Tony O. Elumelu, CON, back in 2010, and has been heavily influenced by his long career as a banker, investor, entrepreneur and philanthropist. The primary goals of Elumelu’s Africapitalism mission are to promote public policies that facilitate private sector growth, to educate established businesses about

cabal, whom they failed to name. The group’s spokesman, one Mr. Stanley Onukwufor, said: “We have looked into what is happening in the country, we cannot take it. “EFCC ought to be a good agency. They did well in the past and prosecuted corrupt people. But it has turned into

Sacked amnesty pilots may return to Lufthansa, says Porbeni Wole Shadare

o-coordinator of Pilots Training in the Presidential Amnesty Office, Captain Prekemi Porbeni, has given an insight into why NigerDelta youths under the

Elumelu, Durham host symposium T he Tony Elumelu Foundation’s Africapitalism Institute and Durham University Business School, one of the oldest universities in the United Kingdom, co-hosted a day-long academic symposium on the economic philosophy called “Africapitalism” at the Foundation’s headquarters in Lagos. Africapitalism – the belief that the private sector must play a leading role in

In a swift reaction, however, the Commission described the protesters as a group of misguided elements, who should not be taken seriously. Members of the coalition, who protested at the entrance to the EFCC’s headquarters in Abuja, alleged that the Commission may have been compromised by a

how Africapitalist business practices can enhance both profits and prosperity, and to address the specific needs of Africa’s emerging entrepreneurs as the best source of new and inclusive local value creation. “The purpose of today’s discussion is to explore the key issues influencing Africapitalism as an economic philosophy from the perspective and scrutiny of academia,” said David Rice.

amnesty programme could not be trained as pilots in the country. He said that the Nigeria’s apex aviation training institution, the Nigerian College of Aviation Technology (NCAT), Zaria management bungled the idea. This is coming as Porbeni explained why 13 Nigerians from the Niger Delta region undergoing commercial point training at the Lufthansa Flight Training School in Frankfurt, were sent away for non-payment of fees. The Nigerian pilots, who would have graduated from the prestigious aviation training institution, were reportedly axed last Friday due to their inability to pay for sundry fees stipulated in their training manual.

The fees were for accommodation and training logistics. Apart from that, six of the pilots, who had already completed their training had their licenses withheld by the school. Speaking to New Telegraph on the sideline of stakeholders held yesterday by the National Association of Aircraft Pilots and Engineers (NAAPE) at the Nigerian Civil Aviation Authority’s (NCAA) head office Annex at the Lagos airport, Porbeni said, “Obviously, if we (Nigeria) pay, the cadet can complete their trainings”. Two of the students sent home for non-payment, had only one test to complete their Programme for Commercial Pilot Licence, one was in his final stage of the CPL test.

something else... “We are out to let Nigerians know that we want change in EFCC. The only thing EFCC does is to arrest little thieves. What about the former governors who looted the treasuries of their respective states? Why is EFCC not prosecuting them?” The protesters carried placards bearing such inscriptions as: “Cabals have hijacked EFCC”, “Sack Lamorde now”, among others. In his reaction to the protest, Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said:“My sincere advice to Nigerians, is to ignore this so-called CSOs. We should not allow a group of misguided elements to assault our collective sensibilities with a choreographed protest paid for by corrupt persons being prosecuted by the EFCC. “The era when Nigerians were easily deceived by rented crowd is over. Any discerning mind can see through the selfish motive of the group. “Why is it that they did not see any reason to call for the removal of Lamorde all these years until he moved against their patrons? “What is the bias in charging a person indicted by a corruption investigation to court?

News

national

wednesday, july 22, 2015 NEW TELEGRAPH

Bharti Airtel to sell African units for $1bn Kunle Azeez

harti Airtel is in exclusive talks to sell four of its African subsidiaries to France's Orange SA for $1 billion, New Telegraph has learnt. However, New Telegraph gathered the Nigerian operation of the Indian telecom firm, which currently has over 29 million active telecoms subscriber, is not included in the deal. As the third largest telecoms operator in Nigeria based on subscriber base, Airtel also boasts of about 17.6 million Internet users from the 88 million Internet users in the largest African country. The development according to EETelecom. com, an Indian online news platform, could earn Orange the world's third-largest telecommunications firm if the deal sails through. Airtel, which has operations in 17 African countries, including Nigeria, is looking to sell its operations in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone, all Francophone countries, reports say. With operations in 29 countries, it reported a total customer base of

l Excludes Nigerian operations 247 million worldwide by March 31, 2015, including 188 million mobile customers and 16 million fixed broadband customers. According to reports, the Indian telecommunications firm has been making losses since its entry in 2010, which has been dragging the carrier's consolidated financials. Sources close to the

deal in India, according to the online platform, said Airtel is looking for a valuation between $900 million and $1 billion for the sale. The four countries in question are said to be roughly contributing about $650 million to $660 million to Airtel Africa's top line of $4.71 billion as of March end. Also, Earnings Before Interest, Taxes, Deprecia-

-L-R: Hon. Mike Omogbehin; leader, PDP caucus, House of Representatives, Hon. Leo Ogor and member, Hon. Nkiruka Onyejocha, during PDP caucus' press breifing on the state of the nation in Abuja…yesterday. PHOTO: ELIJAH OLALUYI

Falana to FG: Don’t think of fuel subsidy removal

uman rights lawyer, Mr. Femi Falana, (SAN), has called on the Federal Government to shun the temptation of removing fuel subsidy now. He said that such an act would serve as political landmine for the new government . Speaking during the ‘7th Annual Distinguished Lecture’ of the Nigerian Institute of Quantity Surveyors (NIQS), Lagos Chapter, yesterday, Falana said the government should jettison the idea of fuel subsidy removal now, but fix the nation’s refineries for local production of petroleum products.

He said: “Buhari should not remove fuel subsidy in the next four years. Government has the responsibility to fix our refineries.” He noted that $5billion has been spent for the Turn Around Maintenance (TAM) of the refineries in the last five years, noting that the facility was only producing at 10 per cent capacity. He said the government has the responsibility to declare openly to the public the number of litres of fuel being consumed in the country daily for planning purpose.

Rather than depending solely on importation, Falana urged the government to establish modular refineries of 20,000 and 25,000 barrels capacity per day in different locations in the country to ease importation. On the agitation for the scrapping of the Nigerian National Petroleum Corporation (NNPC), the erudite lawyer said it would not solve the problem of corruption in the system. He suggested the need for the interpretation of the Bureau of Public Enterprise Act and the NNPC Act to understand where the corruption lies.

Senate crisis, sponsored from outside, says Senator Chukwu David Abuja

member of the Like Minds Senators, Senator Hamma Misau (APC, Bauchi Central) yesterday alleged that the lingering crisis rocking the 8th Senate was being sponsored by external forces, who could not achieve their selfish motives in the election of officers to the leadership of the Chamber. Misau, in a statement

tion and Amortisation (EBITDA) for the four countries were close to $180 million in the period under review. “Orange and Airtel have entered into an exclusive agreement to explore the possible acquisition by Orange of Airtel's subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone,” Airtel said in an official statement this week.

The statement, however, added that these were only negotiations and there was "no certainty" of any binding agreement as a result of these discussions. It didn't provide any further details. Africa has long been a drag on Bharti's overall performance, often offsetting the healthy growth numbers the company registered in its Indian operations. Airtel's net loss in Africa for the fiscal fourth quarter of the year end-

in Abuja, advised those he accused of attempting to use the National Assembly as a ground for their war of political relevance and control, to allow legislators to work and perform their constitutional responsibilities to the electorate. He pointed out that Senators and House of Representatives members were not elected for the purpose of fighting for leadership positions but to make laws, pass motions, engage in de-

bates and oversight functions, which would lead to improved standard of living for the people. While chiding those who are using some senators and representatives to create division and rancour in the National Assembly, Misau argued that in any election, there must be winners and losers, wondering why the losers in the Senate leadership elections were trying to hold the parliament to ransom.

Abolurin hands over NSCDC to Muhammadu Johnchuks Onuanyim Abuja

ormer Commandant General of the Nigeria Security and Civil Defence Corps, NSCDC, Dr. Ade Abolurin, yesterday told his successor, Abdullahi Muhammadu Gana that he was handling a better Corps unit to him. Abolurin, who retired last week, stated this during the handover ceremony at the headquarters of the Corps in Abuja. The former CG, who said he only spent 10 years against the allegation that he had spent many more years, said to the staff and journalists, "May l present to you before handing over, a newly appointed Commandant General of NSCDC, who is also part of us, Commandant General Mohammed Abdullahi Gana. "In summary, before l sign off, so you have idea of what l am handing over compared to what l inherited, l am handing over first of all physically, about 59, 000 personnel of the Corps compared to the 9, 000 l met in the office.

Also, compare to what we met, a rented apartment of three bedroom flat, which housed then National Headquarters, we are having a block of rooms here that are not less than 35 in number. Beside this, which we just called a liason temporary National Headquarters we have some structures which l am also handing over and to be physically sighted, a Civil Defence Academy in Sauka; a Civil Defence College of Disaster and Peace in Katsina; a Civil Defence College of Management study in Abeokuta, compared to when we came without a house. We now have houses, structures here and there commissioned and about to be commissioned. "I will also as part of the handover records of our achievements as regards to implementation of our core mandate, numbers arrested, numbers of prosecution and numbers successfully arraigned and sentenced. Beside also, l am handing over mobilities of different types compared to the then two vehicles in our compound."

ed March 2015 widened to $183 million (Rs 1,155.7 crore) from $105 million (Rs 663.1 crore) a year back, hurt by forex losses. The company's Africa revenue had dropped by 12.6 per cent in the quarter ended March 2015 over last year to $1 billion, from $1.14 billion in the same quarter last year. The growth was limited by currency depreciation of 18.4 per cent, in reported currency terms. The company has 76.3 million subscribers in Africa that grew 9.8 per cent year on year. Airtel had purchased Kuwait-based Zain Telecom's African operations across 17 countries for $10.7 billion; a sum many said was hefty for the loss making operations. The company has been unable to turnaround operations in Africa despite appointing a new Africa head, Christian De Faria, last year.

NAFDAC dismisses corruption allegation Appolonia Adeyemi

he National Agency for Food and Drug Administration and Control (NAFDAC) has denied allegations of corrupt practices levelled against the DirectorGeneral of the Agency, Dr. Paul Orhii. Also, the Agency has urged the public to ignore the allegations, saying that the management of NAFDAC will not lose focus on the frivolous allegations. It will be recalled that since the Agency’s Director of Finance and Accounts, Mr. Ademola Mogbojuri has alleged corrupt practices against the Director- General of the Agency, NAFDAC has been inundated by concerns from stakeholders and strategic partners. A statement from NAFDAC’s Director of Special Duties, Dr. Abubakar Jimoh, yesterday said: “Ordinarily, the publications would have been ignored except for the wrong information it would send to the public. However, for concerns expressed by the public and our stakeholders, we wish to state categorically that these allegations are baseless, false, misleading and frivolous because nothing of such happened under the watch of Dr. Paul Orhii as Director –General of NAFDAC.

NEW TELEGRAPH wednesday, july 22, 2015

News

national

We won't abandon Saraki, say PDP Adesina Wahab ADO-EKITI

he 49 senators elected on the platform of the Peoples Democratic Party (PDP) have no axe to grind with the Senate President, Dr

Olusola Saraki, and are not withdrawing their support for him over the chairmanship of the Standing Committees in the Senate. Also, the leadership of the party and the senators have resolved to continue their support for Saraki as long as the rule of law,

Asagba of Asaba: Injustice, reason for Biafra’s agitation Dominic Adewole ASABA

he Asagba of Asaba, Obi (Prof.) Chike Edozien has identified injustice as one of the greatest problems retarding the growth and development of Nigeria. The monarch maintained that those behind the agitation for self-rule under Biafra nation may not stop unless the injustices bedevilling Nigeria as a nation are addressed. The Federal Government of Nigeria two weeks ago placed embargo on the radio sta-

tion established by the Biafran group to intensify their demands. Also, the Second Republic Vice President, Dr. Alex Ekwueme has called on Ndigbo to be patient with President Muhammadu Buhari to address Nigeria’s many challenges. Ekwueme made this call during a Thanksgiving Service marking the 25 years of marriage, successful end of tenure as APGA National Chairman and 53rd Birthday ceremony of Chief Victor Umeh, at Aguluzigbo in Aniocha council area of Anambra State.

the rules of the Senate, the defence of democratic norms among others form the focus of Saraki's leadership of the Senate, our correspondent gathered on Tuesday. This is against the backdrop of insinuations in some quarters that the issue of how to extend the committee chairmanship seats to PDP senators in large number could pit them against Saraki, as the All Progressives Congress (APC) is kicking against PDP getting a great number of the seats. The Senate is expected to resume plenary session next week and the composition of the committees may be the major task ahead of the upper chamber of the National Assembly.

Commenting on the development, the National Vice Chairman, SouthWest of the PDP, Chief Makanjuola Ogundipe, told our correspondent that so far nothing has happened to rock the relationship between Saraki of the APC and his PDP colleagues. "What the PDP and our distinguished Senators stand for is the upholding of the rule of law, the rules of the Senate, defending democratic ideals and protecting democracy and allowing it to grow in the country. If Dr Bukola Saraki stands for all these too, then we are operating on the same page. "Remember that the PDP is the founder and the party that nurtured

democracy for 16 years in this country. We will not allow anybody or political party to truncate it or do anything that will harm it. "If will do not stand up for the defence of democratic ideals, then the great sacrifice that our party and former President Goodluck Jonathan made by allowing for smooth transition from one government to the other would be in vain," he said. Ogundipe advised the APC and those fanning the embers of discord in the National Assembly for personal reasons to come to terms with the political realities in the Assembly. He expressed confidence that when the Senate resumes, all issues expected to be knotty would

be resolved amicably, adding that the PDP's ideology of giving power to the people would always guide the conduct of its members. Also, the senator representing Ekiti South Senatorial District, Mrs Abiodun Olujimi, said PDP senators were solidly behind Saraki. "It is not true that PDP senators are having problems with Dr Saraki over the constitution of Standing Committees and who head them. We think above petty and parochial levels," she said. Saraki became the Senate President largely on the support given him by PDP senators and Ike Ekweremadu of the PDP elected his deputy.

NIMASA gets acting Director General Bayo Akomolafe

ne week after he was relieved of his job, former Director General of the Nigerian Maritime Administration and Safety Agency, Patrick Akpobolokemi, yesterday handed over to an Executive Director in the agency, Barrister Calistus Nwabueze Obi as directed by the Federal Government. The agency in a statement by its Deputy Direc-

tor, Publici Relations, Mr. Isichie Osamgbi, said Obi was until this appointment the Executive Director, Maritime Labour and Cabotage Services. Born on May 1, 1964, he hails from Ihiala Local Government Area of Anambra State and studied Law at the University of Nigeria, Nsukka. He was called to the Nigerian Bar in 1991 after duly completing the mandatory studies at the Law School.

Glo Ambassadors shine at MAMA awards

op Globacom brand ambassadors won big at the 2015 MTV African Music Awards (MAMA) held in Durban, South Africa last Saturday night. Principal among the company's ambassadors who won were Dapo Oyebanjo, popularly known as D'banj, and the PSquare duo. While D'banj won the maiden MAMA Evolution Award, PSquare took home the Best Group Award and Artiste of the Decade. The ‘koko master’ beat other super stars such as 2face and Asa who were nominated in the same

category. The Evolution category was introduced for the first time this year to celebrate artistes who have not only made huge impact on the African music scene, but also taken African music to the global entertainment scene. The winner was jointly decided by MTV Base and online voting through Twitter and Instagram. PSquare also beat some African heavy weights to clinch their award. They included Beatenberg of South Africa, Sauti Sol of Kenya and B4 of Angola.

THE S.E.T.T.L.E.D CLUB The above named Club has applied to the Corporate Affairs Commission for registration. The Objectives are: i) To mentor teen girls as to alleviate immorality in our society. ii) For self employment, thereby making them productively efficient. The Trustees are: 1) Mrs. Love Izu-Nnaka - Chairman 2) Mr. Andrew Nnaka - Member Any person who has objection to this should forward such within 28 days of this publication to: The Director General, Corporate Affairs Commission, Plot 420 Tigris Crescent, Maitama, Abuja.

L-R: Ebonyi State Deputy Governor, Kelechi Igwe; Governor, Dave Umahi; former Governor, Sam Egwu; member, House of Representatives, Hon. Sylvester Ogbaga and former Deputy Governor, Prof. Chigozie Ogbu, during a stakeholders’ meeting in Abakaliki…yesterday.

Fayemi gives recipe for African growth

ormer Ekiti State Governor, Dr Kayode Fayemi, has said that African nations must discard the false dichotomy between the intellectual and politician, but rather work out a blend of the two tendencies in order to rejuvenate public service and transformative governance that would lead to socio-political and economic advancement. According to him, only when the two tendencies are approached as complimentary rather than contradictory would the public good, which is the essence of democratic governance, be fully realised. These formed part of Fayemi’s submission as Keynote Speaker at the 3rd edition of the President Atta Mills Memorial lecture held at the John Evans Atta Mills Centre for Law and Governance, Ghana Institute of Management and Public Administration (GIMPA), Achimota, Accra,

l Reveals how late Ghanaian president predicted Buhari’s victory Ghana on Tuesday. Speaking on the topic: “Intellectuals in Politics and Governance in Africa: The lessons and legacies of John Evans Atta Mills”, Fayemi, who noted the contributions of notable public intellectuals, including Nnamdi Azikwe, Kwame Nkruma; Julius Nyerere, Obafemi Awolowo and Leopold Senghor in the liberation struggle and early democratic governments in Africa, said the idea of philosopher king in the contemporary African politics is to “advocate the marriage of politics and principle, and to yoke public policy to public intellection". “The good politicians may not need to be brilliant intellectuals, but they also should not have contemptuous disdain for the life of the mind,” said Fayemi, who advocated a hybrid of the two.

“This is why perhaps the issue for us should not be one of transition from intellection to politics, but the extent to which we are able to achieve fundamental synergy between the two in the quest to add value to our society and our democracy,” he added. The former Ekiti State Governor explained that the solution to the current democratic deficit that the African continent is experiencing could not be by posing intellect as a counterpunch to politics. According to him, for autonomous institutions to play a positive role in mediating citizens’ choices, their organic development must be combined in a more nuanced manner and a more systematic way with the use of public and state power. “Am I then suggesting that an intellectual necessarily belongs in politics?

Put that way, an impression is created that I consider it the duty of every intellectual to engage in politics at all cost. That is not my view. However, it is my profound conviction that Africa requires – today more than ever before – enlightened, thoughtful politicians with character and integrity who are bold and broad-minded enough to consider things which lie beyond the scope of their immediate influence and benefit." We need politicians willing and able to rise above their own power interests, or the particular interests of their political parties or states, and act in accord with the fundamental interests of today's humanity - that is, to behave the way everyone should behave, even though most may fail to do so.

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Metro UNIBEN students ground RECKLESS DRIVING

Two students of the University of Benin were reportedly killed by a van belonging to the Nigerian Army

Benin over colleagues’ killing

Cajetan Mmuta BENIN

he students of the University of Benin (UNIBEN), Benin, Edo State, yesterday went on the rampage to protest the killing of their colleagues. The protest, which crippled social and business activities in the ancient town, caused gridlock at the Ugbowo end of the Benin-Ore-Lagos Expressway, which spread to other parts of the city. The victims were crushed to death by a patrol van belonging to the Nigerian Army in front of university’s main gate about 10.30am on Sunday. It was learnt that the two female students, identified as Miss Rita Awele (20) and Efe, were returning from an early morning mass at the Catholic chaplaincy located within the university main campus when they were knocked down from behind by the patrol vehicle. Both victims were 200 level students in the Department of Philosophy. However, there were conflicting reports yesterday over the actual number of students who died in the accident. The protesters claimed that the two students died, but the authorities of the 4 Mechanised Brigade of the Nigerian Army, Benin and the management of the university said one of the victims died while the other was responding to treatment at an undisclosed hospital. It was gathered that Awele died a few hours after the accident while Efe was said to have died on Monday evening at the Emergency Unit of the

The late Awele

Central Hospital on Sapele Road, Benin. Meanwhile, the protesting students made bonfire with used tyres causing several hours of gridlock along the route. The protesters decried the loss of students on the expressway owing to reckless driving by some motorists and the absence of speed breakers. The students also bemoaned the absence of a pedestrian bridge around the university community long after the existing one was pulled down by a construction firm. The construction firm that expanded the Ugbowo end of the dual carriageway had re-

The protesters

moved an existing iron pedestrian bridge built for students to cross the road. The students added that the protest was to draw attention of the relevant authorities to their plight despite the assurances by the 4 Mechanised Brigade to step into the matter. The Director of Sports, Students Union Government (SUG) of the institution, Comrade John Ogedengbe, said there was the need for proper compensation to the families of the deceased and that the soldier involved should be properly dealt with. He said: “The commandant promised us that they will see

Man, 20, remanded for rape of schoolgirl Kunle Olayeni Abeokuta

A ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

the parents and they will take care of the logistics. They told us that the Army officer involved was arrested. But we are not sure of their statement because we demanded an audience but they refused.” Also, the Army Public Relations Officer, Captain Jonah Unuakhalu, said the brigade had commenced an investigation to determine the actual cause of the incident. Unuakhalu added in a text message that efforts were being made to reach the families of the deceased. He said: “On Sunday morning at 8.30am there was a road traffic accident involving Operation Pulo Shield ve-

hicle driven by a soldier that knocked down two females who were confirmed to be students of University of Benin. “They were, however, evacuated to a nearby hospital where one was confirmed dead, while the other student is responding to treatment. “Efforts are being made by the command to reach the university authorities and families of the two students involved in the accident and also to further dialogue with the Students Union Government to avert the protest but the students insisted on speaking with government officials. It is advisable that the students should keep calm as the command is looking into the issue.” The university Public Relations Officer, Michael Osasuyi, said the institution had contacted the Army on the issue. He said: “The management is talking to them now to remain calm and abide by the rules and regulations and channel their grievances appropriately so as not to disrupt the peace. “They are calling on the Federal Government to provide a flyover so that students are not knocked down on the highway. “When it (accident) happened, the military personnel took responsibility. One of the students is responding to treatment. “The military displayed a high level of responsibility to ensure that the situation is brought under control; management still appeals to students to keep calm and allow peace to reign.”

n Abeokuta Magistrates’ Court yesterday ordered a 20-year-old man, Michael Bassey, to be remanded in prison custody for allegedly raping a 19-year-old secondary schoolgirl. Bassey was said to have committed the offence on June 10 at Command Day Secondary School, Lafenwa, Abeokuta. The police prosecutor, Inspector Idowu Ogunleye,

said the accused, of no fixed address and occupation, had unlawful carnal knowledge of the girl and deprived the vic-

tim of her virginity. Ogunleye told the court that Bassey was arrested by some soldiers who went on his trail after he allegedly committed the crime. She said: “The 19-year-old, who attends Premiere Secondary School, was sent on an errand to Command Day Secondary School. “Half way into the school, the accused, who appeared suddenly, dragged her into the bush, filled her mouth with sand and raped her mercilessly, forcibly taking the innocent

girl’s virginity. “She managed to crawl to one of the Army checkpoints and the soldiers at the checkpoint went in search of the accused and subsequently arrested him.” The prosecutor told the court that Bassey committed the offence which contravened sections 357 and 358 of the Criminal Laws of Ogun State, 2006. The accused, whose plea was not taken by the court, was represented by his counsel, Adebayo Ogundeyi.

Metro 11

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Lagos begins clampdown on motorcyclists S

City Briefs

Three rustlers die, 2,000 cattle recovered

Motorcyclists on a Lagos road

Muritala Ayinla

he Lagos State Task Force on Environment and Special Offence Unit yesterday impounded about 75 commercial motorcycles for plying the prohibited 475 highways and bridges in the state. This followed the 21-day ultimatum issued by the state government to the commercial motorcyclists otherwise called Okada riders to vacate restricted routes in the state metropolis.

Piqued by the dramatic upsurge in accidents and crimes before and after the general election, the Lagos State government had four weeks ago given the riders a 21-day ultimatum to vacate all 475 restricted routes or face the full wrath of the law. It was gathered that the clampdown, which started in the early hours of yesterday, led to the withdrawal of commercial motorcycles plying major expressways in the metropolis. The government had

vowed to commence enforcement of the law immediately after Eid-el-fitr following the the ultimatum, which lapsed last Thursday. The task force Chairman, Akeem Adedeji, who confirmed the arrest of the recalcitrant motorcyclists, said his men begun implementing the government order to restore sanity, security and safety on Lagos roads. The chairman said the law was to ensure safety of the residents and strengthen

Eight die in Ondo auto crash Babatope Okeowo Akure

ight persons yesterday lost their lives in a motor accident on Ilesa-Akure Expressway in Ifedore Local Government Area of Ondo State. The accident, which occurred at Ilaramokin, a sub-

urb of Akure, according to witnesses, was caused by a lorry coming from the Akure end of the road. A witness, who works with a local newspaper, told journalists that the driver of the lorry carrying cement lost control while the lorry collided with a Toyota Sienna bus coming from Lagos.

It was gathered that all the eight passengers in the commercial Sienna bus, including the driver identified as Sunday Efo, died instantly, while the driver of the lorry sustain injuries. The Toyota Sienna bus, which left Ojota in Lagos, was going to Ikare-Akoko before the accident occurred a few

security in the state. Adedeji added that only the recalcitrant motorcyclists were affected by the exercise. He said: “This morning alone, we have impounded no fewer than 75 motorcycles. But you will find out that the more we impound them, the more they buy new ones to replace the seized ones. That is how resilient the black man is. One cannot but wonder where they get the money and the number plates from.” kilometres to its destination. The witness said that residents of the area made frantic efforts to save the lives of the victims but to no avail. It was learnt that the bodies of the victims have been deposited at the morgue of a government hospital in the state. The state commandant of the Federal Road Safety Corps (FRSC) could not be reached at press time for his reaction on the accident.

Prudential International School holds first graduation

The graduating pupils

Yekeen Nurudeen Abuja

t was celebration last Saturday for students, management and staff at the first graduation and prize giving

ceremony of Prudential International School, Abuja. Parents and guardians were entertained by different performances by the students. The Managing Director (MD) and co-founder of the

school, Dr Patrick Ngasso, said the school, since its establishment on September 6, 2014, had made continuous efforts to realise its vision and mission of making the difference. Ngasso disclosed that measures had been put in place to develop an innovative and balanced curriculum and a professional learning community among teachers. He said: “The school rightly attaches importance to the pursuit of personal growth, aesthetic appreciation, a positive outlook and appreciation for others as its priority.” The MD expressed delight that the vision of education reform was already being realised Prudential International School where, according to him, students are

nurtured to be self-directed learners who enjoy learning and also have space and freedom to develop their individual interests and potential. The teachers, he said, took pride in and derived satisfaction from teaching. Ngasso noted that parents too had been supportive to the school and respectful to teachers. Congratulating the primary six pupils who were graduating on their successful sojourn in the school, the MD urged them to continue to try their best in learning with perseverance, commitment and enjoyment. Highlights of the ceremony were music presentation, karate display by pupils, drama in French and presentation of certificates and prizes to outstanding students.

ecurity operatives have recovered 2,000 cattle and rams in Birnin Gwari Local Government area of Kaduna State in a joint operation against cattle rustlers. The recovery, which included a donkey, was made after they raided the bandits’ hide out in Birnin Gwari and Damari village on Sunday and early Tuesday morning. Three bandits, according to the News Agency of Nigeria (NAN), were killed in the operation while nine others were arrested. Governor Nasiru el-Rufa’i, who visited the operatives, commended them for their “swift intervention” and pledged government support to ensure continued success in their operations. The governor said that the operation was part of the new offensive in the North-West against cattle rustling. He said: “So far so good, we are satisfied with the work done by the Armed Forces in trying to contain the problem of cattle rustling and general security threats that have lingered for too long. “The joint operation is between six states that share the Birnin Gwari forest – Zamfara, Kebbi, Katsina, Sokoto and Niger.”

Fake army officers plead not guilty Camillus Nnaji

wo fake Army officers, who were arraigned yesterday for impersonation, pleaded not guilty. The accused, Mohammed Adamu (25) and Umar Ibrahim (40), were arraigned before an Ikeja Magistrates’ Court, presided over by Mrs Y. O. Aje-Afunwa, on charges of impersonating and parading themselves as Army officers. The two men pleaded not guilty to the charges, but their counsel, Bright Idahosa, pleaded with the court to grant them bail on liberal terms. According to the charge sheet, the accused had on July 5, at Lekki Phase 1, Lagos, in the Lagos Magisterial District, did conspire together to commit felony to wit, forgery and thereby committed an offence punishable under Section 409 of the Criminal Laws of Lagos State , 2011. Adamu was alleged to have been arrested on the same date, time and place in the aforementioned district.

Residents rejoice as police smash robbery gang Caleb Onwe Abuja

here was jubilation at Nyanya in the Federal Capital Territory (FCT), Abuja yesterday as the police arrested suspected members a deadly robbery gang said to have been terrorising the area. The police team shot sporadically during the operation which lasted about 15 minutes. The residents of the neighbourhood who besieged the police station to catch a glimpse of the suspects were dazed when they saw the arms and ammunition allegedly recovered from them. Several guns, ammunition and assorted handsets recovered from the suspects were displayed. However, the police did not allow journalists to take pictures of the items and the suspects.

12 News

wednesday, july 22, 2015 NEW TELEGRAPH

south-west

Group rejects Osun’s secret probe Adeolu Adeyemo Osogbo

he Civil Societies Coalition for Emancipation of Osun State (CSCEO) yesterday accused the state House of Assembly of planning to give Governor Rauf Aregbesola, a premeditated clean bill through a closed down committee set up to probe the alleged financial misappropriation of the state

LAUTECH ASUU threatens strike over 13-month unpaid salaries

l Committee is strictly parliament affairs — Assembly funds leveled against him by Justice Oloyede Folahanmi’s. It also rejected what it described as the sevenman panel comprising only members of the All Progressives Congress (APC), in an Assembly with two opposition members from the Peoples Democratic Party (PDP). The coalition, in a statement made available to newsmen by its chairman, Comrade Adeniyi Sulaiman, chided the Speaker of the Assembly for not allowing any member of the opposition to be

part of the panel, describing it as ‘’dirty deal’’. "We kick against plan by the committee set up by the State House of Assembly to probe behind close-doors Justice Oloyede Folahanmi’s petition against Governor Rauf Aregbesola and his deputy, Mrs. Titilayo Grace Tomori. "The Speaker, Hon. Najeem Salam, should stand by his earlier statement that the investigation would be conducted openly , refusal to do this is a betrayal of the people’s trust."

“We have painstakingly studied the script already written by the APC and we promise that we will resist any attempt to rubbish Justice Folahanmmi’s petition against the governor and his deputy. “Looking at the committee, we discovered that the Chairman, Adegboye Akintunde, who is the House’s Deputy Speaker, is from the same Osogbo constituency with the Deputy-Governor, while another member of the panel, Owoeye Timothy, the House Majority

Leader, is from the same Ilesa-East constituency with the governor. “Can there be justice and fair hearing by this committee? This will be a mirage. How can the APC lawmakers find an APC governor guilty of any misdeed? How can the lawmakers burn the fingers that have been feeding them? “We saw a similar thing in Lagos when late Chief Gani Fawehimi, a human right crusader per-excellence petitioned the then Lagos House of Assembly over Senator

Cleric charges Ekiti rich to invest at home

Sola Adeyemo Ibadan

he Academic Staff Union of Universities (ASUU), Ladoke Akintola University of Technology (Ogbomoso), LAUTECH chapter, has asked Governors Abiola Ajimobi and Rauf Aregbesola, to pay the outstanding 13-months salaries owed workers of the Institution without further delay, or face the consequence of the workers embarking on strike. The academic union claimed that staff of the institution, were finding it difficult to survive while nobody was willing to alleviate their plight. The Chairman of LAUTECH ASUU, Dr Oyebamiji Oyegoke, stated this while speaking to newsmen in Ibadan yesterday, saying that the institution workers were facing untold hardship due to what he called abdication of the institution’s authority’s responsibilities culminating in workers being owed 13 months salaries. The union boss said the call became imperative in view of the bail-out being granted to states by thePresident Mohammadu Buhari led government, which Oyo State was a beneficiary.

ollowing the dwindling allocation from the Federal Government, Ogun State Government yesterday said it is set to enhance its industrial base towards the selfsustenance of the state economy. Governor Ibikunle Amosun, while speaking in Abeokuta yesterday, said his government would drive the state economy through increased industriali-

Bola Tinubu’s certificate saga. Rather than the then all Alliance for Democracy (AD) lawmakers investigate the matter thoroughly, the House committee led by Jide Omoworare, pronounced Tinubu, not guilty. Sulaimon who agitated that the governor’s response to the petition be made public, argued that, all indications have shown that the committee had written its report before commencing sitting. “To even found out that the House Minority Leader, Hon. Dejo Makinde holds Masters Degree in Law, which put him in vantage position for such assignment but was not considered has revealed the Assembly leadership’s had clandestine arrangement unknown to many."

Adesina Wahab Ado-Ekiti

Ogun State Governor, Ibikunle Amosun (4th left); state Head of Service, Mrs. Modupe Adekunle (second right); former Commissioner for Commerce and Industry, Otunba Bimbo Ashiru (right); Chairman, Tropical Group International (TGI), Mr. Jerome Shogbon (third left); Managing Director, West Africa Cotton (WACOT), a subsidiary of TGI, Mr. Tecklea. Ravi (fouth right) and other management staff of TGI, during a courtesy visit on the governor in Abeokuta… yesterday.

Sola Adeyemo Ibadan

fter weeks of n o n - a c t iv i t i e s leading to several adjournments, the new Chairman for the Oyo State election petition tribunal, Justice Mohammed Aliu Mayaki, yesterday warned counsels to various parties at the tribunal to avoid any technical delay that could further delay hearing and determination of cases. Following the retirement of the maiden tribunal chairman, Justice F. C Obieze, about

New Oyo tribunal chairman cautions counsel against delay a month ago, Justice Mahmud Karaye, who had been acting, could not preside over the tribunal until a substantive judge assumed office yesterday at the Iyaganku High Court. On resumption yesterday, Mayaki adjourned all matters before the tribunal till July 28, so that applications can be taken. He said, ‘’We have to be careful to avoid unnecessary delay. There

Dwindling allocation: Ogun promises to enhance industrial base

sation, wealth and job creation for the teeming youths of the state. Receiving the management of West Africa Cotton (WACOT), a subsidiary of Tropical Group Investment (TGI), which plans to invest in full scale agricultural value chain in the state, in his office, the governor said, “With the dwindling

Federal Allocation, I am one of those that never believed in waiting for the Federal allocation to run the state. Amosun assured the investors of the total support of its administration, noting that the relationship between the state and any investor would be mutually beneficial.

should not be any technical approach to issues. We on our part, will endeavour to provide substantial justice at the end of the day", he said. Earlier, he had prevented controversy over arguments on issues of whose application to be heard first between the Accord Party candidate Rasheed Ladoja's counsel and that of Governor Abiola Ajimobi. Chief Richard Ogunwole (SAN) leads the

team representing Ladoja, while Chief Wole Olanipekun leads the defence team for Ajimobi. Aside Ajimobi, Senator Ladoja had dragged the All Progressives Congress (APC), Oyo Resident Electoral Commissioner (REC), Dr. Toyin Akeju and the Independent National Electoral Commission (INEC) to the tribunal over the results of the last governorship election in the state.

he rich and privileged people of Ekiti State, have been charged to impact positively on the people by investing in the state towards ensuring the economic development of the state as well as improving the living standard of the people. The General Overseer of the Hour of Mercy Prayer Ministry, Prophet Moses Kasali, who gave the charge in Ado-Ekiti yesterday, said investments in the state would aid its development and transform people's lives through better living when the state economy improves. Kasali, who was in Ekiti State for a five-day revival, stated this during a visit to the Chairman, Prosperous Group of Companies, Mr Abiodun Isinkaiye. The cleric noted that many youths were into various criminal acts due to joblessness and wondered why some rich Nigerians would take their resources to foreign lands while their people at home wallow in poverty and neglect.

2018: APC groups merge, plan Ekiti take-over Adesina Wahab Ado-Ekiti

ith about three years to the conduct of the governorship election in Ekiti State, two major groups within the state chapter of the All Progressives Congress (APC) have commenced the merging of interests to-

ward wrestling power from the Peoples Democratic Party (PDP) in the state. The groups are the G-35 and the Ekiti Restoration Group (ERG). The G-35 comprises some former local government chairmen and for mer members of the House of Assembly, while the ERG was formed by some former

members of the House of Representatives. Speaking with journalists in Ado-Ekiti yesterday, a chieftain of the ERG, Hon. Bamidele Faparusi, said the merger became expedient as part of the efforts to foster unity and ensure proper realignment of forces ahead of the 2018 election.

NEW TELEGRAPH WEDNESDAY, JUly 22, 2015

Tribunal

PDP’s cocktail of allegations

Buharimeter

Parliament

Jonathan’s men out in the cold

National Assembly

Crisis without end

APC faces supremacy test

Politics

Buhari, Osinbajo stir the hornest’s nest FELIX NWANERI writes on the mixed reactions trailing President Muhammadu Buhari and Vice-President Yemi Osinbajo’s decision to slash their salaries by 50 per cent

he decision by President Muhammadu Buhari and Vice-President Yemi Osinbajo to cut their salaries by 50 per cent, have once more brought to the fore, the widening disconnect between Nigerians and their leaders. Unlike in other climes where citizens take their leaders for their words, no sooner than the Presidency announced the salary slash that criticisms from stakeholders, especially members of the opposition political parties and labour groups, ensued. The Presidency, had through a statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, on July 10, announced that Buhari and Osinbajo agreed to take only half of the salaries approved for them by the Revenue Mobilisation Allocation and Fiscal Commission (RMFAC). The President’s current annual remuneration as approved by the commission is put at N14 million, but with the new development, Buhari will earn N7 million per year throughout his four-year tenure. The statement added that the decision had been conveyed to the Office of the Secretary to the Government of the Federation (SGF) by the Permanent Secretary of the State House, Mr. Nebolisa Emodi. “I write to forward the completed IPPIS registration form of Mr. President and to draw your kind

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

Buhari

Osinbajo

attention to Mr. President’s directive that only 50 per cent of his salary be paid to him,” the statement quoted Emodi in the letter with reference number PRES/81/SGF/17. Shehu, who threw more light on the issue, said the president’s decision sends a clear message to Nigerians on the need to make sacrifices for the nation. “That voluntary action of the president is pregnant with meaning. It is a message of sacrifice for national development. Since the president has done this for himself, he is expecting that others will join him in making sacrifices for their fatherland,” he said.

President Buhari had earlier turned down an offer to procure five new armoured Mercedes Benz S-600 (V222) cars for his use. The cars, which total cost is put at about N400 million, were planned to be purchased by the State House.

Some governors started it before President Muhammadu Buhari and Vice-President Yemi Osinbajo, bought into it. Buhari earns N14.1 million per annum while Osinbajo’s annual salary is N12.13 million. This is inclusive some other allowances. If the salary cut is sustained for one year, the president would be forfeiting about N7 million while his deputy would have donated about N6 million, to the nation. A civil servant on grade level 17 earns about N4 mil-

2015 presidential candidate of KOWA Party, “the country’s situation calls for rationality and even sacrifice, so the president’s decision to take a 50 per cent cut is a good development and other leaders should follow suit. We know that most of them are overpaid,” she added. Executive Director, Civil Society Legislative Advocacy Centre (CISLAC), Mallam Auwal Rafsanjani, on his part, said the pay cut would have a lot of impact in encouraging prudence. He added that it would go a long way in blocking the leakages in government. However, the Nigeria Labour Congress (NLC) said it was imperative for the government to focus deeper on ways to rein in the cost of governance rather than the cosmetic announcement of slash in salaries by some public officers, which would not in any way improve the economy. Speaking through its SecretaryGeneral, Peter Eson-Ozo, NLC said: “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 prescribes how salaries of public officers are fixed. If any public officer chooses to reduce his salary, he can donate it to charity or donate it to whomever.” Eson-Ozo noted that the labour

CONTINUED ON PAGE 42

Mixed grill No doubt, the pay cut is not a government policy, but many have described it as a step in the right direction as government is suffused with incredible profligacy. However, there is a political school that believes that it is all about showmanship. To Prof. Oluremi Sonaiya, the

Public show of probity Onyekachi Eze

hortly after being sworn in as governor of Imo State for the first time in 2011, Owelle Rochas Okorocha made a public show of probity, accountability and transparency, when he announced that he was going to forfeit N4 billion of the N6.5 billion annual security vote his predecessor collected while in office, to give free education to people of the state. This won him public applause, and the governor became a reference point of

how public officers could cut cost of governance and stop wasteful spending. Okorocha subsequently declared free education for Imo State indigenes from primary to university level, and later extended it to non-indigenes resident in the state. Security vote is one way chief executive officers at state and federal levels use to funnel public funds to private use. While it is not clear whether the governor’s security vote has been fully restored, the new trend is “salary cut” by elected chief executives.

Politics

WEDNESDAY, JUly 22, 2015 NEW TELEGRAPH

PDP’s cocktail of allegations The opposition Peoples Democratic Party (PDP), last week, raised fresh alarm that Lawal Daura, the newly appointed Director-General of the Department of State Services (DSS) is interfering with election matters pending before the tribunals. ONYEKACHI EZE examines this disturbing allegation

his is not the first time the leadership of the Peoples Democratic Party (PDP) is making such allegations. But the alleged involvement of the Director-General of the Department of State Services (DSS), Mr. Lawal Daura, is not only weighty but disturbing. PDP National Publicity Secretary, Chief Olisa Metuh, had while briefing journalists at the end of the weekly National Working Committee (NWC) on July 16, said the party has received information that Daura, who was appointed DG two weeks ago, has invited some people in relation to Rivers and other state tribunals trying to discuss such matters with the panel members. “PDP want to alert the nation and international community that this is gross interference in democratic affairs, which can lead to draconian regime where security forces and apparatus of government will be used to decide and influence election matters,” Metuh observed. He repeated the same allegation a day after when he visited Country Directors of the National Democratic Institute (NDI) and International Republican Institute (IRI) in Nigeria, Jasper Veen and Sentell Barnes, respectively. PDP spokesperson told his hosts that: “Democracy is on trial in Nigeria. The APC is engaging on campaign of calumny and witch-hunting of PDP leaders. Government is influencing security agencies to frame elected leaders. We want President Muhammadu Buhari to be fair and father to all Nigerians irrespective of political parties.” Before the present allegation, the party had accused the Inspector-General of Police, Mr. Solomon Arase of trying to frame the Deputy President of the Senate, Ike Ekweremadu in a bid to force him to resign. Ekweremadu, a PDP member, was elected Deputy President of the Senate against the tradition in the past where the party with majority produced both the President of the Senate and his deputy. His emergence did not go down well with members of the All Progressives Congress (APC) including President Buhari, and there have been calls for him to resign. But

Daura

PDP said, having realised that they could not muster the number to impeach him or force him to resign, the governing party has resorted to intimidation and harassment to force Ekweremadu to give way for the APC preferred candidate. “We are aware that some APC senators opposed to the emergence of Senators Bukola Saraki and Ike Ekweremadu as Senate President and Deputy Senate President respectively... concocted a petition accusing the Deputy Senate President of altering the Senate Rules on the process of election of the presiding officers,” Metuh noted. He disclosed that the IG, acting on instructions, has invited the Deputy Senate President with a view to arresting him over “phantom charges as a build up to incarcerate him, create a vacuum in the Senate and pave way for the imposition of APC preferred senator to take over his position.” Metuh disclosed that the police in a letter dated July 1 and signed by the Deputy Inspector General in charge of criminal investigation at the Force Headquarters, has invited Ekweremadu to appear before him on Monday, July 6, where he would be detained and put under pressure to resign.

Metuh

Zakari

Democracy is on trial in Nigeria. The APC is engaging on campaign of calumny and witch-hunting of PDP leaders

The pre-emptive information, however, stopped the planned arrest, and it does appear the matter has died down. The police denied inviting Ekweremadu, though it admitted that police team from the criminal department met and “interacted” with the Clerk of the National Assembly, Alhaji Salisu Maikasuwa. The PDP had immediately after the inauguration of the APC government at the centre, said it was privy to intelligence reports showing certain clandestine moves and nocturnal meetings in Lagos and Abuja on how to compromise the sanctity of the electoral tribunals in their compositions and location to suit the APC purpose. “We are aware that there are moves by the APC to cause the doctoring of the membership of the gubernatorial election tribunals in some PDP states, particularly Akwa Ibom, Abia, Rivers and Delta with the aim to bring in friendly officers, possibly to push through their agenda against our great party. “Also, we question the so-called security reasons adduced for the decision to relocate the Akwa Ibom State governorship, National and state Assembly elections tribunals out of the state and wonder why Akwa Ibom was singled out. “Nigerians and the international community would recall that we had earlier alerted of furtive moves by the APC to procure and compromise some stakeholders in the elections, including INEC and security personnel to bear false witness and doctor electoral materials against the PDP at the tribunals,” PDP stated. The APC through its National Publicity Secretary, Alhaji Lai Mohammed, has admitted petitioning the DG DSS against some officials of the Independent National Electoral Commission (INEC) in Rivers, necessitating their invitation. According to Mohammed, those petitioned against were the Resident Electoral Commissioner (REC) for Rivers State, Mrs. Gesila Khan; the Administrative Secretary, Mr. Obijuru Royson; Head of Operations Department, Bocco Ekong; and Legal Officer, Fumi Gaffar.

He said the reason was the denial of APC access to some documents used for the last governorship and House of Assembly elections in the state but were domiciled at the commission’s head office. He alleged that some directors at the INEC head office in Abuja had been trying to deny the APC access to the documents despite that the INEC Chairman “had promptly attended to the issue and directed the said officials to furnish the needed documents.” He said: “The PDP’s wolf crying over a conspiracy it orchestrated with the Rivers INEC to deny the APC access to documents used for the said elections amounts to barefaced lies and a clear attempt at distorting facts. The four oil-rich states of Rivers, Akwa Ibom, Delta and Abia have been a contest between PDP and APC since the April 11 governorship election. Although traditionally PDP states, APC believes that the conduct of the polls in these states was less than transparent. Besides, the states appear to be the backbone of PDP, which if taken away from it will leave the party prostrate and without substance. The opposition party, therefore, believes that the governing party wants to use its control of security agencies to take these states away from it. On July 10 after a Federal High Court in Port Harcourt, Rivers State, dissolved 22 local government councils whose elections were conducted on May 23, some five days to the inauguration of a new government, the police denied appointed caretaker committees access to the secretariat. PDP accused the force of double standard. It wondered why the police could allow “the dissolution of local government councils and appointment of caretaker committees in APC-controlled Plateau and Kaduna states, even when they were without the orders of the court but elected to clamp down on that of Rivers State, which came as a result of judicial pronouncement.” The party said it “is a yet another clear indication that the Nigerian police may have become a partisan and compromised instrument in the hands of the APC Federal Government to destabilise PDP-controlled states, particularly Rivers State.” Apart from the police and the recent allegation against the DG of the DSS, PDP had accused the Acting Chairman of INEC, Mrs. Amina Zakari of working for the APC. Though the party raised no objection against the appointment of Daura, it however, faulted the appointment of Zakari, even though on acting capacity. It said the acting INEC chairperson has “consanguineous relationship” with President Buhari. It had alleged that certain officials at INEC were given instructions by some APC leaders to alter some electoral documents and records against Ekweremadu in order to create the impression that he did not file proper documents for the general elections to pave way for his removal. The future will either prove PDP right or wrong!

Politics

NEW TELEGRAPH WEDNESDAY, JUly 22, 2015

Maduekwe

The recent dissolution of boards of agencies, parastatals by President Muhammadu Buhari has seen the loss of jobs of prominent politicians, writes ANULE EMMANUEL

or several Nigerians and even a few members of the international community, President Muhammadu Buahri appears presently to be too slow. In fact, this is unlike what they projected. There has been varying comments on this slow approach to governance. Analysts believe too that this no doubt is affecting the prosecution of the war against extremist group, Boko Haram, in the North-East as well as the expected bite in the promised war against corruption. But the president’s recent decisions seems to be receiving knocks already, particularly from the opposition Peoples Democratic Party (PDP), which interprets them as a deliberate step to embarrass ‘Jonathan’s men’ and all those who in one way or the other are loyal and have served in the immediate past government but to keep them out of job. One of the decisions by President Buhari which the opposition sees as such, is the recall of all non-career diplomats. Although the news first broke through unofficial sources, the Federal Ministry of Foreign Affairs confirmed later that government recalled all noncareer Ambassadors Extraordinary and Plenipotentiary on tour of duty abroad. The Foreign Affairs Ministry in a statement explained that the recall was in line with routine movement in the service. “The Ministry of Foreign Affairs wishes to reconfirm the recall of Non-Career Ambassadors Extraordinary and Plenipotentiary of the Federal Republic on tour of duty abroad,” it said. Would those affected have been holding such portfolios on patronage basis? This is one question that craves for answers. Prominent among them is the Nigerian envoy to Canada, Chief Ojo Maduekwe, who was National Secretary of the PDP. Maduekwe was appointed Foreign Affairs Minister on July 26, 2007 by late President Umaru Yar’Adua but left office in March 2010 when as Acting President then, former President Goodluck Jonathan dissolved his cabinet. He was among 93 others appointed on June 12, 2012 by Jonathan to serve as Ambassador and High Commissioners. Also recalled alongside with Madue-

Tafida

Obi

Babatope

kwe is the Nigerian High Commissioner to the United Kingdom, Dr. Dalhatu Tafida. He was the Director-General of the Goodluck Jonathan Campaign Organisation in the 2011 presidential election. Others are a former Aviation Minister, Mrs. Fidelia Njeze (Switzerland); ex-General Manager, Nigerian Television Authority (NTA), Ibadan, Mr. Yemi Farounbi (Philippines); a one-time governorship aspirant in Lagos State, Mr. Olatokunbo Kamson (Jamaica) and a PDP chieftain in Ondo State, Mr. Cornelius Oluwateru who served in the United Arab Emirate (UAE). That is not all, the recalled envoys also include Alhaji Abubakar Shehu Bunu (Saudi Arabia); a former Commissioner for Justice and Attorney General in Benue State, Mr. Chive Kaave (Argentina); a former financial secretary of the PDP, Alhaji Tukur Mani (Iran) and former permanent secretary, Federal Capital Territory Administration (FCTA), Biodun Nathaniel Olorunfemi (Namibia) and Prof. Ade Adefuye (USA). As confirmed by the foreign affairs ministry, the list also include, widow of the late Ikemba Nnewi, Chief Emeka Odumegwu-Ojukwu, Bianca (Spain); Chief Asam Asam (Russia), Mr. Okwudili Nwosu (Burundi,Mr. Okeke Chukwuemeka (Vatican), Mr. Eric Aworahbi (Italy), Dauda Danladi (Pakistan), Mrs. Katherine Okon (Czeck Republic), Mr. Nwofe Alexander, Princess Victoria Onipede (Republic of Congo), Senator Haruna Garba (Kuwait), Mrs. Nonye

Rajis-Okpara (Singapore), Chief Eddy Onuoha (Hungary), Mr. Adamu Babangida Ibrahim (Syria) and Dr. Sam Jimba (Poland). Acceptable as the fears that President Buhari may have begun a manhunt of Jonathan’s men for their misdeeds could be, the actions by the present administration to withdraw the diplomats is far from it. The All Progressives Congress (APC) government need to also create some job space for its men. Interestingly too, as then Presidentelect, Buhari, while receiving his Certificate of Return from the Independent National Electoral Commission (INEC) extended a hand of conciliation to former President Jonathan after a rancorous presidential election, with an assurance that he has “nothing to fear” after losing power. Despite this, in doing the job, certain anomalies as the president’s put it, need to be corrected. This is also the reason why President Buhari decided to dissolve boards of parastatals, agencies and institutions where the immediate past government made last-minute appointments. Those heading most of these organisations are friends, associates and stalwarts of the PDP. They are therefore the very hit by the dissolution hammer of the new government. Among them is the Securities and Exchange Commission (SEC) where the former president appointed ex-Governor of Anambra State, Mr. Peter Obi, as chairman

The decision for the dissolution will also affect the board of the Nigerian Ports Authority (NPA) where the former President also appointed Mallam Habib Andullahi, son of late Emir of Kano as its managing director. Chief Tony Anenih, former chairman, Board of Trustees (BoT) of the PDP serves on the board as the chairman. Anenih was appointed chairman of the board in 2012 by former President Jonathan. The NPA is considered one of the most lucrative agencies outside of the oil and gas industry. It has also served as agency of choice for PDP leaders since 1999. A former Deputy National Chairman of the party, Bode George, once held the position. The dissolution order may also affect the Petroleum Equalisation Fund (PEF). Before he left office on May 29, former President Jonathan appointed one of his ministers, Mrs. Asabe Ahmed as the Executive Secretary of PEF. Former President Jonathan had also in 2013 appointed about 67 chairmen of boards of parastatals and agencies. The members of these boards are also not spared in the presidential directive. While announcing the appointments, Senator Anyim Pius Anyim, then Secretary to the Government of the Federation said that under agencies, the National Boundaries Commission would be headed by Yunusa Dangwani as Chairman and the Nigerian Shippers Council has a retired Military

Anenih

Bianca

Jibrin

Jonathan’s men out in the cold

CONTINUED ON PAGE 43

16 Politics

WEDNESDAY, JUly 22, 2015 NEW TELEGRAPH

Ambode’s bold steps in Lagos Bodurin Aralawon

t might be early days yet, but Governor Akinwunmi Ambode is slowly beginning to show Lagosians the stuff he is made of and those naysayers who said he was not prepared for this job should get ready to eat “humble pie”. To be truthful, very few people have been so prepared for the job of Governor of Lagos State as Ambode. The story of his walk from the Lagos State Waste Disposal Board, the various local government councils, and the State Ministry of Finance and now Governor of Lagos State is the stuff that dreams are made of. Ambode is a people-person par excellence and no amount of politicking by detractors can change that. His biography “the art of selfless service” is sufficient testimony of his empathy and desire to serve others. His admirers have even nicknamed him in Yoruba - “Baba Oju Oto” which roughly translates as a kind-hearted father who cannot ignore the suffering of others. His humanity and kindness is so legendary and there is a story during his campaign where the party faithful on his campaign train caught up by the rapture of the moment effusively pronounced that the “tree of sympathy and kindness” at Alausa that had withered after Asiwaju Bola Ahmed left office would surely bloom again once he assumed the mantle of leadership. Ambode delivered four main speeches in the run up to his election as governor namely at his formal declaration to run for Governor of Lagos State, on winning the APC primaries, on his winning the Lagos gubernatorial elections and on his inauguration as Governor of Lagos State on May 29. If you take a good look at those speeches you will find a common thread of a detribalised people-centric person who has dedicated his life to serve others. In his inaugural speech, he emphasised this trait when he said: “As we collectively face the challenge to make Lagos a better place to live in, we must recognise our strength in diversity. A common national identity where everybody counts. I shall run an open government of inclusion that will not leave anyone behind. No matter your age, sex, tribe or any other status, as long as you reside in Lagos, we will make Lagos work for you.” For those who know him well, it is therefore not strange when you see him stop for an accident victim or extend his goodwill to a woman who has been abandoned by a dead-beat husband. This is second nature to him and the apparatus of state has just given him a larger canvas to showcase this kindness for his fellow human beings. Ambode is also a very down to-earth person who is not caught up with the trappings of power. This was reflected severally during his campaign for governor as he refused to have armed police-

Ambode

men around him and insisted they always remained on the outer perimeter during his campaign. His view was that the undue militarisation would not allow him properly connect to the people he was seeking to serve. On assumption office he dropped the title “Executive” Governor and insisted on just being called simply Governor. Not done, he insisted on his Aide-deCamp not wearing a police uniform and to be dressed in mufti except on ceremonial occasions in order to be as “civilian” as possible. He has also carried on the no-siren rule popularised by his predecessor and insists on enduring in the Lagos traffic like his fellow Lagosians. His practical walk-on-the street approach to governance has also quickly endeared him to Lagosians. A lot of people were therefore waiting to see how Governor Ambode would deal with the recent ruling of the Coroner on the collapse of a building at the Synagogue Church of All Nations. It will be recollected that 116 lives of Nigerians and foreigners were lost in that building collapse disaster. There were local and international calls for a thorough investigation and possible prosecution to give justice to the victims. After over a year of legal twists and turns initiated by the Synagogue Church, the Coroner’s inquest into the building collapse disaster recently delivered a ruling which amongst other things indicted the Synagogue Church for criminal negligence and recommended that it be prosecuted. In the aftermath, speculations were rife that Governor Ambode would duck and buckle especial-

Joshua

Every person has a right to life, and no one shall be deprived intentionally of his life

ly being a Christian governor being called to take a tough and firm decision on a Christian organisation. This was also against the backdrop of the Synagogue’s “controlled demolition” and “unknown flying object (UFO)” theory and subtle moves by shadowy third parties to coerce the Lagos State Government into not enforcing the Coroner’s ruling. It is pertinent to note that in the seventh schedule of the 1999 constitution, the oath of office of a governor of a state provides inter alia as follows: “That I will to the best of my ability preserve, protect and defend the Constitution of the Federal Republic of Nigeria…. that in all circumstances, I will do right to all manner of people, according to law, without fear or favour, affection or ill-will” emphasis mine. Section 33 of the Constitution that Ambode swore to uphold also guarantees every person’s right to life: “Every person has a right to life, and no one shall be deprived intentionally of his life, save in execution of the sentence of a court in respect of a criminal offence of which he has been found guilty in Nigeria.” Therefore, Governor Ambode’s recent pronouncement that Lagos State would enforce the Coroner’s ruling to the letter was a welcome development for avid political watchers and the Lagos populace. It was a clear confirmation that behind his legendary kindness and sympathy is the steely resolve to uphold his oath of office by protecting people’s lives and giving justice to the downtrodden without fear or favour, affection or ill will. It must be noted that the ability to take tough decisions is a critical success factor for any leader to succeed and in my

opinion Governor Ambode has passed that first test with flying colours. He therefore deserves commendation for his resolve to give justice to those who lost their lives in that horrific incident. This will send a clear signal to all and sundry that Lagos State and Governor Ambode will do everything to protect people’s lives. Also that Lagos State takes the issue of building collapses and criminal negligence very seriously and will prosecute any person or organisation indicted. As noted earlier, this is a governor that is clearly in a hurry to serve his people. His war cry during his campaign that “I will give governance back to the people” serves as a forerunner for his recent actions in the last 50 days of his assumption of office. His whistle stop intervention and fact-finding visits to Apapa, Badagry, Lekki, Epe, Ikotun, Ejigbo and ground breaking pronouncements on LASTMA and KAI show that he is a people-connector and not an “office” Governor. His directive that LASTMA and KAI should henceforth carry out their duties with a “human face” is only an amplification of what he said in his inaugural address: “…therefore, wherever practicable, we shall practise government by incentives and not government by enforcement.” I daresay that Governor Ambode is a man who will surprise many with his feats in the governance of Lagos State. As they say stay tuned and don’t turn that dial because with empathy and steely resolve he may well surpass the achievements of his illustrious predecessors in office. •Aralawon writes from Lagos

Politics 17

NEW TELEGRAPH WEDNESDAY, JUly 22, 2015

Saraki

There seems to be no end in sight on the lingering crisis in the Senate over its leadership as antiBukola Saraki senators vow to fight on. CHUKWU DAVID reports

ix weeks after the inauguration of the National Assembly, the friction between the winners and losers in the contest for the leadership positions of presiding and principal officers in the Senate is yet to be resolved. Members of the Senate Unity Forum (SUF), a group of Senators who campaigned for Senator Ahmad Lawan’s Senate presidency, appear not to have enjoyed any pacification in the handling of the differences and grievances generated in the course of the jostle for the various leadership positions in the Eighth Senate. Traditionally, one of the easiest ways of resolving political crisis in societies is for various individuals and groups involved in disputes to converge and reach compromises in areas where there are disagreements between and or among the opposing political interests. However, in the case of the conflict engulfing the Eighth Senate over the formation and configuration of its leadership, the stakeholders are miles away from applying this inherent traditional remedy in conflict resolution. In the present circumstance, the “winner takes all” syndrome, which has been the pivotal cause of most crises in Nigeria’s political experience over the years, is playing out. At the initial stage of the struggle, two factional pressure groups resolutely stood out to

Lawan

Ndume

Crisis without end

fight for the leadership of the Senate. The SUF and the Like Minds Senators, which worked for the emergence of Senator Bukola Saraki as Senate President are on a collision course. There is no doubt that the main grouse of the SUF, which made it seem to vow to continue to fight the President of the Senate and his team is the failure of Saraki and his support group to call them to a roundtable to resolve their differences. They insist that after Lawan missed the number one Senate seat, the position of Majority Leader should be given to him as a compensation. Corroborating the position that they actually wanted the crisis to be resolved through dialogue, the SUF, on Saturday June 13, gave some conditions to pacify their grievances. They first demanded the immediate resignation of Deputy President of the Senate, Ike Ekweremadu, as part of conditions that would make them recognise Senator Saraki as President of the Senate. Senator Kabir Marafa (Zamfara Central), who is the most vocal member of the group, had however clarified that his group had nothing personal against Saraki and Ekweremadu but they were against the process which brought them to power, which he said, negated the position of the All Progressives Congress (APC) as a party and the principle of party supremacy, in constituting the Senate leadership. He also insisted that the members of the Like Minds Senators must explain why they disregarded all the arrangements put in place by APC leaders to produce consensus candidates for the posts of Senate President and Deputy Senate President. Marafa said: “Our colleagues, the Like Minds Senators, on three occasions failed to honour the directive of the party for an arrangement to produce consen-

I swear to God, we will not allow this impunity to stand and a fresh one to be added

sus candidates for the Senate President and Deputy Senate President. They refused to take part in the mock election when 35 APC senators elected Senators Ahmad Lawan and George Akume as the party’s consensus candidates for the two top positions in the Senate.” The group further argued that Ekweremadu must resign his position because he needed at least 55 senators to emerge as Deputy Senate President Ekweremadu was elected by 54 senators, while his opponent in the race and current Senate Leader, Senator Ali Ndume polled 20 votes. The crisis further deteriorated when on June 20 the Like Mind Senators vowed to resist alleged moves by Senator Bola Tinubu and other party leaders to impose Lawan and Akume as the Senate Leader and deputy, respectively. Senators Ahmed Yerima and Danjuma Goje declared this position when they spoke with journalists in Abuja, warning that the plans by the leadership of the APC to fill the remaining four principal officers positions with ranking members of the SUF was totally unacceptable and would be vehemently resisted. With the vow not to concede any appreciable leadership position to the SUF by the Saraki group, the disgruntled senators therefore, seem to have made a retaliative move not to cooperate with the Senate leadership. In fact, the speculation all over the place is that the SUF is on a revenge mission, which terminal goal is to remove Saraki and Ekweremadu from the office. This is why it has gone to the extent of faulting virtually everything done by the leadership, and continuously proclaimed the emergence of the principal officers as borne out of illegal and illegitimate process. Fuelling the crisis further is the alleged doctoring of the Senate Standing Orders 2015, which

the SUF described as a fraud and petitioned the Inspector-General of Police to investigate and prosecute those fingered as architects of the purported forged document. Based on the petition, the Police subsequently quizzed the leadership of the 7th Senate, including Senators David Mark, Ekweremadu; former Senate Leader, Victor Ndoma-Egba and the former Chairman, Senate Committee on Rules and Business, Senator Ita Enang. The SUF has also positioned itself to fight the leadership on the issue of committee sharing, as it threatened to reject and resist the equality principle stipulated in the 2015 Senate Standing Order for the distribution of Senate Standing Committees. Order 3(4) of the 2015 Senate Standing Order, stipulates that the committees be shared equally among the six geo-political zones of the country, irrespective of political party affiliation. According to this principle, each zone is expected to get at least nine committee chairmanship seats out of the 57 Senate committees that will be set up by the chamber in due course. The Order states: “The appointment of Senators as chairmen and members of committees shall be carried out in such a manner as to reflect the six geo-political zones of the country and there shall be no predominance of Senators from a few geo-political zones.” However, in previous assemblies, distribution of chairmanship positions of the 57 committees have always been done in favour of senators of the ruling party and ranking in status. The PDP enjoyed this privileged up to the 7th Senate. The alteration of this principle by the new provision has, CONTINUED ON PAGE 40

MORE STORIES ON pageS 40-43

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Opinion

Which Naira rain exactly?

Simbo Olorunfemi

aira rain, some have called it. But is it, really, a Naira rain? Is it unusual? Indeed, there is nothing out-of-the-world about the Presidential Relief Package to enable State governments pay arrears of workers’ salaries. Bailout, from what we have seen of it, is an intervention instrument often employed to midwife a recovery in sectors of capitalist economies, irrespective of the pretence to be running market-driven economies. Nigeria is no exception. Indeed, the Naira rain has been on, for years. The difference, this time, is that rather than filling the buckets of the private sector, this Presidential Relief Package, for once, is for the benefit of the public sector. Beyond the newspaper headlines, a good look at the package reveals that the bulk of the fund released actually belongs to all the tiers of government, and not just the Federal Government. Even though the Presidency has now clarified that what is being shared among the tiers of government is the $2.1 billion dividend paid into the Federation account by the Nigeria Liquefied Natural Gas Company (NLNG), nothing would have been wrong, stricto sensu, in sharing the 2 billion dollars in the illegal Excess Crude Account. The fund there statutorily belongs to the federation and not the just the Federal government. The fact that the previous administration had in place what looked more like a monarchical structure, with an all-knowing Queen at the top absolutely calling the shots on how the economy is managed and dispensing favour in accordance with dictates unfamiliar to lesser beings, it does not make such an arrangement one that has to be followed. The magisterial tone of the Queen was rather obvious, as she admonished Governors for not buying into her scheme to set aside money, ostensibly to fund the controversial Sovereign Wealth Fund. But the questions that never seemed to have received answers include these - What stopped the Coordinating Minister from setting up such a fund for the Federal government, which pockets over 50 percent of the revenue accruable into the federation account? What was wrong with Coordinating Minister and the Federal Government setting up a fund of its own, with all that came in from the unprecedented high price of crude oil? It was long suspected that what was routinely declared as due to the Federation Account, under the previous regime, fell short of what was statutorily expected to be paid

into it, yet the Federal Government could not set aside a reserve fund. Rivers state government, for instance, did not receive any prompting from the Queen before setting up its own reserve. It is well documented that a number of the state Governments actually overreached themselves, by entering into all forms of bonds with irrevocable firstline charge on allocation from the Federation account. The fact is that some of these governments actually did right by seeking to fund long term projects with long-term funds. It cannot simply be that governments elected to drive development will simply fold hands, in the face of paucity of funds to affect its stead. It cannot be that government exists simply to be able to pay salaries of its workers. Those projections have fallen short spectacularly for some of them, might mean that they over-reached themselves, but these projections were themselves, products of professional computations, subjected to what was supposed to be rigorous checks by regulators and operators in the money and capital markets. The point, simply put, is that we are faced with a k-legged political structure, poorly managed by deficient thinking on the part of those entrusted with governance in the past and regulated by defective institutions, all around, porous in corporate governance. What we are faced with is beyond a mismatch in projection and exposure. We have state and local governments that exist simply to pay salaries, many unable to even meet up. We have a Federal Government that has had to fund its budget, including payment of its workers, through borrowing. Yet the wizards who managed the economy have never been shy with doling out free funds, in the name of bailout packages. There was the 300 billion Naira Power and Aviation Intervention Fund in 2012. There was the 22.6 billion Naira forbearance package for stockbrokers. We had the Asset Management company of Nigeria (AMCON) buying so-called bad loans off the books of our banks, shelling out another One trillion Naira from our commonwealth in the process. There was the 213 billion Naira to the privately-owned Distribution Companies (DISCOs) and Generation companies (GENCOS), in the name of sorting out the mess in the power sector. We have the 1.4 trillion naira generously granted as import duty waivers to private sector operators, in our moment of madness. Some of that money waived off, lest we forget, ought to be to the credit of the federation account. So when we speak of Naira rain, which one exactly? The one packaged as bailout to well-heeled elements in the private sector, the one trillion Naira import duty

waived in favour of importers of rice and items? Could it be the tonnes of Naira pocketed by phantom fuel importers, who collect subsidy payments, yet electing not to pay back loans extracted from colluding and greedy banks? What has been put together for state governments, we are told, is “a Central Bank of Nigeria (CBN)-packaged special intervention fund that would offer financing to the states, ranging from between N250 billion and N300 billion. This would be in the form of soft loans available to states to access, for the purposes of solely paying the backlog of salaries and a debt relief programme, designed by the Debt Management Office (DMO), which will help states restructure their commercial loans currently put at over N660 billion and extend the life span of such, while reducing their debt servicing expenditures.” This one appears more like a package configured with long-term repayment in mind, and not a gift from Santa Claus, like the bailout packaged for the private sector, in our very recent past. So bad was it that a beneficiary of the aviation bailout, allegedly, simply shipped the money abroad to add another toy to his questionable acquisitions. Such was the nature of the Naira rain. It cannot be that it is simply okay to bail out banks, bail out privately-owned companies and not be able to bail out State governments to enable them pay thousands of workers, kept on the payroll of some of these states for reasons more to do with the overall social welfare of the citizenry. This path might not be the sustainable one to take, in the long run, but a decision on that will be better taken when the question of the skewed structure pretending to be federal is up for consideration. It is definitely not sustainable to keep reaching for the bottom of the pocket to clear backlog of salaries owed workers. But it is also not sustainable for banks to keep pushing deposits, held in trust, into the hands of some oligarchs who enjoy a preferential access to credit, at the detriment of small businesses and operators in the informal economy, only to have government coming over to clear the mess left behind, when the banks run into a ditch, under the weight of non-performing loans, configured not to perform by lender and borrower, in the first place. Bailouts should not be the exclusive preserve of Bankers, Stockbrokers and other Oligarchs, the poet around the corner needs one too. •Olorunfemi (simboor@yahoo.com) works for Hoofbeatdotcom, a Nigerian Communications Consultancy

Checking rising teenage cultism Fred Nwaozor

ultism can be defined as a situation whereby a group of persons holds or shares beliefs that is significantly different from those of established religion as well as practice traditions that are contrary to those regarded as normal and acceptable. This implies that cultism is an activity carried out by a secret cult/confraternity. A secret cult is simply an organization of a few persons with a view to actualizing a sinister or ulterior motive. Cultism could be attributable to various factors such as hunger, frustration, vulnerability, insecurity, ignorance, inferiority complex, quest for power, peer influence, oppression, youth restiveness, intimidation, loneliness, or family/parental background, as the case may be. Among all the factors that could make someone to join a secret confraternity, the most dominant one is peer influence. Someone is confirmed a member of a secret cult group after passing through a certain rigorous ritual, which is invariably cruel and inhumane. Sometimes,

the prospective cult member passes away in the process if he or she lacks a strong resistance to pressure or tension. An individual may willingly wish to join a certain secret cult owing to his/ her interest. On the contrary, one might be subjected to join a cult group through the effort of some of the members of the group due to a certain quality or idiosyncrasy they observed in the person such as academic excellence, financial security, influence, and/or physical stamina. It is obvious that cult activities have been on rampage in recent times. There are various forms or levels of cultism; ab initio, secret society was found among people of advanced age bracket until it was introduced to the students of tertiary institutions of learning. And lately, the latter seemed to be of higher effrontery as a result of youthful exuberance. Currently, it appears cultism has taken a different dimension, which makes it more worrisome. Apparently, the drumbeat is no longer observed only on our campuses or in wider societies but also by the students of the various secondary schools in Nigeria and beyond. Surely, taking a walk to any neigh-

bouring secondary school will convince one that teenage cultism has come to stay among our teeming young ones. The most painful part remains that most of the teenagers involved are yet to know that they are practising evil or something prohibited by the law thereby making them constitute enormous nuisance among their contemporaries. Some of them don’t even stop at their fellow students while carrying out their activities or observing their norms; in most cases, they end up threatening their teachers. It is pathetic to notice that most of the affected parents or guardians are yet to acknowledge that their children or wards are cultists, which implies that the so called parents cannot give adequate account of their teens. Unequivocally, extension of this ugly and dastardly trend to our secondary schools is no doubt an indication that the future of the country’s educational sector is not just a shambles but has been placed in an unimaginable danger zone that if severe measure is not taken towards its eradication, the country is liable to experience a colossal socio-

economic waste soonest. We must understand that all hands ranging from the parents, to teachers, counsellors, school managements, government at all levels, religious bodies, the media, civil society, and what have you, are expected to be on deck toward stemming this societal menace that is telling on as well as ravaging our national development. Against this backdrop, there’s a compelling need to save our young ones from this irrational and blasphemous practice that will cost them not only their future but their lives as well, so that, the country can boast of leaders tomorrow. In regard to this, the parents/ guardians ought to endeavour to keep every record of the activities of their wards, and endeavour from time-to-time to pay unscheduled visit to those residing in the school dormitory. The various school managements on their part should not hesitate to report to the concerned parent whenever they observe any strange behaviour in any student. •Nwaozor (frednwaozor@gmail.com), is a Public Affairs Analyst & Civil Rights Activist (+2348028608056)

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

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Egypt and fear of Kaduna

ootball indeed is a game of surprises, it is also an admixture of the weird, the good and the ugly. Nations go to war over soccer matters, Nigeria and Biafra agreed to a ceasefire during the Civil War so that Pele could visit. Today, Israel an Asian nation, is grouped with Europe while down under, Australia in Oceania, plays as a member of the Asian Football Confederation. There is so much between Egypt and Nigeria in football. It could have started with Dr. Nnamdi Azikiwe, the last of the Governors- General and our first President, who invited the Pharaohs to Lagos in an Independence friendly with the Red Devils who had just been rechristened Green Eagles. The Eagles’ first Nations Cup , Ghana ’63, began so poorly with a 6-3 drubbing by the North Africans in Kumasi. And until Angola 2010, that was the last time Nigeria would lose to Egypt in the Africa Cup of Nations. The links were good for the West Africans such that anytime Nigeria faced the Pharaohs, they ended up winning a medal. Ethiopia ’76, Nigeria ’80, Cote d’Ivoire ’84, Algiers ’90, Tunisia ’94, and Angola 2010. Both countries are billed to meet again, albeit in the qualifiers of the Gabon 2017 edition of the competition. Drawn in Group G with Tanzania and Chad respectively, the Egyptians

are expected to play the Eagles in Kaduna on Wednesday March 23, 2016. Winners of the group will qualify . In terms of laurels no one can take it away from Egypt. They have won the trophy more than any other nation and remain the only team to have won thrice consecutively, 2006, 2008, 2010. Then they went under, failing to qualify three times consecutively, 2012, 2013 and 2015. They are therefore so desperate to make the next edition. Reports coming in from Cairo indicate that the Egyptian FA is not comfortable with the Kaduna venue of the match with the Eagles. They are murmuring and are set to ask for a shift from the North to somewhere in the Southern part of our country. In football, security issues are not treated with kid gloves. That explains FIFA’s decision to take Israel to Europe, same reason CAF stopped Libya from hosting the Nations Cup following the anarchy that trailed Muammar Gaddafi’s fall. However, the Egyptians simply are acting funny, their usual way of trying to distract the opponent. What they fear about Kaduna is also what Nigeria must fear about them. Both countries are going through similar security challenges. It is like the pot calling the kettle black. Insurgency in the Northern part of Nigeria is the same as terrorism in the North of Egypt. In their country, North Sinai

is as dangerous as our own North-East. Since the ouster of Mohamed Morsi and the Moslem Brotherhood in 2013 by the Army, explosions have continued to rock the country. So far, over 1,100 militants have been killed by the Army. Just last Saturday, about 59 militants were shot dead in an attack that also claimed the lives of seven soldiers. The Northern Sinai towns of Sheik Zuweid and al-Arish are as dreaded as our own Gamboru Ngala and Damaturu. This year has been a cocktail of blasts in Cairo too, where the Pharaohs defeated Tanzania’s Taifa Stars 3-0, the weekend Super Eagles trounced Chad 2-0 in Kaduna. Cairo , the Egyptian capital, is also going to host the clash with our senior national team. Early in 2015, bomb explosions near the High Court in Central Cairo, left two dead and several injured. In June, the country’s top prosecutor, Hisham Barakat, died due to injuries sustained in a car bomb assault on his convoy as he left his Cairo home. Nine persons were injured. On July 11, another car bomb attack hit the Italian Consulate. One man died in the blast and that was after similar fate befell the Saudi Consulate. The Nigerian Football Federation[NFF], should not give in to the fears expressed by the Egyptians. It is part of their strategy to unsettle the Eagles.

Kaduna is safer than Cairo where the Eagles will play them and Nigeria is as troubled as Egypt by fundamentalists. The NFF should be more worried about the security of the Super Eagles whose captain, Vincent Enyeama, was part of the 2003 CAF Cup winning Enyimba team. For defeating Ismailia, very close to the Sinai, the Aba Elephants were almost lynched. They had to be escorted by armoured cars and a battalion of troops to the Cairo Airport to board their flight back to Kano. It took the wits of then Abia state governor, Dr. Orji Uzor Kalu, to bring back the cup to Nigeria. The Ismaili fanatics planned to steal the trophy, not knowing that sitting with the governor in the VIP box, were two Arabic speaking naturalized Nigerians. During the trip to Egypt, Enyimba’s ADC flight was diverted to a military base in Asyut, hometown of Gamal Abdel Nasser, Egypt’s second President , all part of a ploy to demoralize the eventual champions. Egyptians could do anything to gain advantage in football. NFF should be wiser now. Listening to them will be succumbing to blackmail. Kaduna, with or without Boko Haram , is not worse than Cairo that is populated by terrorists linked to the Islamic State. As bombs explode in Nigeria, more explode in Egypt. But soccer must go on. Chad played in Kaduna, Egypt must also do the same.

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WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Arts

Book Review

Stimulating discourse in contemporary Nigerian art Tony Okuyeme

ontemporary art in Nigeria has continued to generate interest and patronage both at local and on the international scenes. While the country currently battles with the politics of corruption, the artists are faced with the need to establish their stand on the world stage. Fortunately, the rest of the world has renewed its interest in contemporary African art, thereby creating a demand for artistic excellence and innovation. Documenting issues that affect the visual art sector is no doubt imperative. A new book aptly, Issues in Contemporary Nigerian Art 2000-2010 conceived and compiled by Juliet Ezenwa MajaPearce is indeed a significant contribution to the study and understanding of development in the sector. Published by The New Gong publishing, the book Issues in Contemporary Nigerian Art 2000-2010, which will be launched on Saturday August 8, 2015, at the Yemaja Art Gallery in Surulere, Lagos, is, in the words of Osa D. Egonwa, a renowned scholar and Professor of Art and Art History/Human Development, Department of Fine and Applied Art, Delta State University, Abraka, “… a bold attempt at interrogating the evergrowing practical and conceptual questions in contemporary Nigerian art and the efforts to resolve them from a perspective alien to the dominant order. “It is not a predetermined assessment of the subject, nor is it a report card on a selected number of artists adjudged to be the fons erigo of the art tradition, according to the whims and caprices of a curator; rather, it adopts a multivalent studio and theoretical analytic coverage with ample room for creative speculation.” In this 200-page book with 22 articles, an introduction and a foreword, Egonwa further notes that “Issues in Contemporary Nigerian Art 2000-2010”, is thus “proof that art has grown and turning full-circle, wearing global attire in Installation and Performance Art. Most importantly, there is now an encouraging aesthetic awareness provoking fruitful debates from experts

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

Book title: Issues in Contemporary Nigerian Art 2000-2010 Conceived and compiled by Juliet Ezenwa Maja-Pearce Year: 2015 Number of pages: 200 and non-experts alike. No doubt, this is an outstanding book project with thye capacity to provide much needed insight into presentday art practice in Nigeria”. According to Juliet Ezenwa Maja-Pearce, the primary aim of the book is to create a platform for discourse. She explains: “The genesis of the book was the unofficial opening of Yemaja Art Gallery in 2009, when Olu Ajayi, the then chair of the Society of Nigerian Artists (Lagos State chapter), casually asked the publisher (and my partner), Mr. Adewale Maja-Pearce, ‘So when are you going to start publishing art books?’ “From that moment, the die was cast. Two years later, the form for this book became evident to me. For a while now, we who are passionate about the development of the visual arts’ sector often find ourselves brainstorming on issues that affect us and our profession. The advent of platforms like the African Regional Summit on Visual Arts (ARESUVA), the Ben Enwonwu annual lectures, the seminar and paper presentations at the annual Harmattan Workshop, and the debates during ArtExpo were indicators that there was a

CONTINUED FROM LAST WEEK

ronically my name was the only one in the list postscripted with a course of study: Health and Physical Education (HPE). Was I amazed! I knew neither what the course meant nor where it would lead. Meanwhile, I was in the consciousness of many sports scouts, in particular those from the Managements of P&T Vasco Da Gama and Rangers Football Clubs (both based in Enugu). The competition between these two clubs to have me signed-on was fierce. Club Football In 1971, Rangers won the East Central State Challenge Cup and were runners up in the Challenge Cup, having lost to Shooting Stars of Ibadan. Rangers was not just the club of the moment, it represented the Igbo spirit and more importantly it was a rallying point for us Igbos. The victories of Rangers returned our pride and a feeling of non-armed conquest. Indeed every Igbo person, at home and in the Diaspora, rooted for Rangers.

transformation underway. “We are, no doubt, at a crossroads on this journey to international relevance and, with it, our rightful contribution to world civilisation. “My take on all of this is to document some of the issues that affect the art we are creating now. It is true that, at one time, the Nigerian artist (having been trained in the methods and styles of Europe) had to cope with an identity challenge. To counter this, they consciously developed an art to challenge and, in the process, reverse this debilitating state of affairs. Today, the challenge is different. I hope that, in putting together this collection of essays and accompanying art works, the reader will be given an insight into the circumstances that informed the art we produced. That said I would like to stress that it is the 20 contributors and artists featured here – roughly divided between scholars and practitioners - who are its inspiration and its rightful authors.” In the book’s Introduction, Nigerian painter, art historian, cartoonist, curator, art critic, art administrator, and teacher, Professor Dele Jegede notes: “This monograph, which features contributions from

art practitioners, writers and scholars, exemplifies the centrality of dualism in the art of contemporary Africa: production must be complemented by narrativization; creativity must be theorized and critiqued... Until there is a compelling perspective from within the parent culture, critiques of Nigerian art will remain warped and, indeed, obfuscated.”

The book launch at the Yemaja Art Gallery on Saturday August 8, 2015, will be chaired by the Head of the Dept. of Creative Arts, Unuiversity of Lagos, Peju Layiwola; guest speakers are Prof. Freeborn Odiboh and Tobenna Okwuosa, while Kehinde Adepegba, an artist and a lecturer, Lagos State Polytechnic, Ikorodu, will review the book.

Ekeji: Odyssey of a Green Eagle P&T Vasco Da Gama, on the other hand, was perceived as an ‘enemy’, a non-Igbo ‘shadow’ club with Chief J.B. Ogufere of MidWest (now Delta) as Chairman. He was at that time the Territorial Controller of P&T, Eastern Territory. Vasco had some followership drawn largely from its members of staff, a motley group of some Enugu-based fans, and understandably, a coterie of local contractors who did business with it. It, nonetheless, offered employment and other income possibilities to many easterners as well. Engr Augustine U. Otiji (today the Igwe of Oghe in Enugu State) was then a very highly influential member of Vasco Management. He was in charge of National Trunk Maintenance Services (NTMS). “A.U. Ja”, as he was fondly called, is a man far ahead of his time. Forthright and highly analytical in thought, he is very visionary. He recognized with ease what was good for any system wherein he operated and went for it with all honesty. He

had no room for equivocation and had absolutely no tolerance for dishonesty. He played a major role in getting me to eventually sign-on for Vasco. I think I accepted his overtures perhaps because I believed I share with him some character traits. A.U. Ja visited me thrice while I was at Holy Ghost College Owerri between 1971 and 1972, and on his last visit, he expressed his determination to ensure I achieve my desire to further my education. He was apparently impressed by my bias for academic pursuit. Of course he was aware that the Management of Rangers FC was equally out to get me as well. He urged me to consider Vasco because he feared that my potentials would be “drowned” if I went to Rangers. Rangers, he said, was already too star-studded and I may not be well received by many of the established players there. Vasco, on the other hand, would afford me easy visibility. I am usually not scared of com-

petition or challenges; I take them head on. A.U.’s argument did not convince me. However, I listened and took his advice. Today, with the benefit of hindsight, I attribute my acquiescence to Providence. Given what I came to know of the mode of operation of Rangers and what I came to represent in Vasco, A.U. was absolutely right. He was dispassionate in his intimate discussions with me, and, of course, more experienced in life, at least at that time. At the end of my HSC in 1972, I headed for Enugu and signed on for Vasco for the 1973/74 season. This must have endeared me to the Management of Vasco and in particular Engr. Augustine Otiji. At our subsequent and intimate discussions, we talked of my future, especially in the perspective of the academic scholarships offered to us (The East Central Academicals) by the Ukpabi Asika-led government of then East Central State. CONTINUES NEXT WEEK

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

LIFE IN THE CITY

MY CITY, MY WORLD

Rapists on the prowl

TK: Lagos, a developing mega city

Searching for where to play

A football pitch

In Lagos State, many football fields and recreational centres have been converted into churches, mosques and schools with no alternative for physical education. EZURIKE UGOCHUKWU observes that the trend is leaving no chance for the all round development of children

ll work and no play make Jack a dull boy, as the popular saying goes. The daring exploits of Brazil in football, especially in the world today, could not have been achieved but for the commonness of little sports parks in virtually all corners of the country that provided unhindered access to the nationals. Nigerians’ awareness has rather been heightened on football, athletics and other indoor and recreational games.

The breeding ground for these sporting games- recreational centres are no nowhere again within our neighbourhoods. In some places, they have fallen down and no efforts to rebuild them. Play/physical exercise is an essential part of human development. Experts say it helps to build the psychomotor. Unexercised body is a potent room for all forms of sicknesses and evil thoughts. Omolade Akin presently resides in Ikeja area of Lagos. He laments whenever he visits FESTAC town, area OLUWATOSIN OMONIYI of Lagos. He recalls what he CITY Editor called lost good old days of tosin.omoniyi@newtelegraphonline.com FESTAC Town. A thought that re-echoes in him of the © Daily Telegraph Publishing Company Limited FESTAC of the late 70s when as a student, he lived in the area

Physical exercise is an essential part of human development

with his parents. According to him, there were so many football fields within the area, concrete fields for Lawn tennis and walkways for riding bicycles. There was nearby forest where some wild animals moved freely and they could see at a distance some wild animals like monkey, squirrels and etc. jump from one branch of a tree to the other. “We watched in admiration.” But with the population now increasing in Lagos, he said that the number of fields that have been converted to churches, Mosques and residential buildings could have been enough to provide the much sought-after recreational needs to youths and senior citizens that also need recreational centres to increase their life expectancy and burn out un-

wanted calories. “The very large play ground on 23 road, now has buildings on them. The same applied to that on W close of 5th Avenue known as FHA football field. Today, youths in FESTAC are known for dubious online activities and other social vices basically to make them busy,” he said. He further said that, “this accounts for the reason I preferred my children to attend schools that have enough recreational facilities rather than the indoor games facilities like swings, toy games, merry-go-round and etc. but my wife insisted on the one my children attend today, holding on to the grounds of proximity and the assumption that most CONTINUED ON PAGE 22

Life | Mega City

CONTINUED FROM PAGE 21

schools without football fields are better academically than those schools with sporting and other recreational facilities. But I vehemently opposed it. However, I’m handicapped because I leave for work very early daily while her work affords her little time to attend to the children’s school needs. ” He concluded. Psychologists, teachers and some parents are unanimous in the outcry for the provision of adequate recreational facilities not only in schools but in most residential areas. They insist that it’s unhealthy and totally unacceptable for government to even allow new housing estates without recreational facilities. A psychologist, Andrew Ogara, said, “rather than inculcating friendliness, our youths of today resort to evil and hate towards one another. This is one of the things sports take care of. In the social media today, if you read the type of things they post, you wouldn’t need a soothsayer to tell you they do not have love in their hearts. The social life of our youths today focuses on so many social vices as cultism, sexual-lust, cybercrime and armed robbery. When students are bored in their class, once they are allowed to go out and exercise, they return healthier and readily to learn, because their circulatory system will start functioning effectively, thereby making the brain more receptive.” A teacher in one of the private schools in Ajegunle, Ajeromi/Ifelodun Local Government Area, said though they don’t have such recreational facilities in their school, that is not the best for the total development of the child. “The situation we find ourselves in this country, has made it possible for virtually everything to pass unnoticed and un-scrutinized. If governments insist that schools must have adequate recreational facilities before approval, how many schools in this Lagos will meet the mark? It means many of us that are managing to make ends meet in some of the schools that may be denied approval will be idle. Apart from healthy body, sports have so much economic gains. My elder brother was able to attend a university through scholarship he won in sports. Our children are being denied a lot today. At higher institutions, there is always poor attendance to NUGA and NIPOGA games simply because students never inculcated sports culture at primary and secondary schools. Many higher institutions hire sporting men and women, who are not students to represent them. Some of the sportsmen are at times offered admission with good accommodation to represent such institutions.” He said. At Adidas sports field in Ajegunle, the arena is always busy in sporting activities and other activities that go beyond the eye at twilights. Renting of football boots and footballs are very lucrative business in the area. Sports boot for children there go for N50 while that for adults go for N100. Within Tolu Complex in the (Ajegunle) area where there are concentration of schools and also a Library, with the various sports fields in the various schools com-

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Nowhere to play, relax

Another football playing ground

pound and there is also the ‘popular’ Marakana field. Residents of the area say that is not sufficient, going by the population and enthusiasm for sports there. Master Tunde Ibrahim, an SS1 student of Bola Ige Millennium School,Tolu, said they have only but football field in their school which is not a good development to aid them grow their individual talents. “There are too many sporting events we watch on television being played outside Nigeria. If we are exposed to them, we could try our hands in them and identify the ones we could do better.” He said. For Master Peter Gbalishe, a JSS 3 student, his own school does not have any field to play on. A situation he said hides their talents. He said it’s not every day as students; they have the freedom to come out to Adidas and Marakana to play.

Rather than inculcating friendliness, youths of today resort to evil and hate

A structure encroaching on a playing ground

Seun Olayinka, another resident of the area, said we cannot sacrifice national and collective interests on the altar of personal interests. People cannot because they want to survive, ignore some fundamental rules and exigencies. Schools and churches are opened here and there with little thoughts on the type of output that could come out from them. Florence Israel, also a resident of Ajegunle, was practicing in football game when accosted at the Mokoya Junior High School, Tolu. She expressed dismay that there are few football fields to practice on especially for women. She feels attention should be given to other sporting and recreational activities beyond football. “In this part of the world, we talk of football only because that’s the only game we are exposed to and the only game we can play anywhere. There are many games

that have made people rich but we don’t play them either because we don’t know them or we don’t have the needed facilities to practice and excel in them,” she said. Dr. Evans Akinloye, an educationist, said, “A healthy society is a wealthy and prosperous generation. Residential houses, Churches, Mosques and even private Schools without recreational centres have taken over our cities. Many studies and researchers have proven that recreational activities are not only gainful, health wise, but economically gainful. Lack of physical exercises make the academic life of our youths unbalanced. The self-expression recreation could have afforded is missing. Sporting activities contribute to the development, stability and future progress of individuals and humanity at large.

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Rapists on the prowl Sexually-abused, but prevented from talking

It is better treated in silence. That is the belief held by communities on the issue of sexual offences. But silence, in this case, is suffering, not golden. Hence, some agencies are calling on victims of sexual offences to be bold and tell their stories. APPOLONIA ADEYEMI reports

iving in Nigeria where the silence culture is the overriding factor that influences reactions to sex crimes, including rape, it is not surprising that numerous cases have been swept under the carpet. However, with the establishment of the sexual assault referral centre, the Mirabel Centre in Ikeja, Lagos, it has been revealed that rape and sexual assault have become a common feature in the Centre of Excellence, Lagos. This came to light recently at the commemoration of the twoyear anniversary of the Mirabel Centre, a project of Partnership for Justice (PJ). The operations of the centre, which is domiciled at the Lagos State University Teaching Hospital ,LASUTH, Ikeja, is funded for Justice from ‘All Programme of the Department of International Development’ ,DFID, of the British Council- a funding that is limited to two years. One of the biggest challenges in seeking justice for the survivors of sex crime is the absence of reliable and verifiable data and lack of support services, according to the Centre. Itoro Eze- Anaba, the managing partner at the PJ said it is disturbing situation that has led to many survivors not seeking help nor reporting such crime to the po-

lice. In a bid to fill this gap and provide a safe and comfortable place for survivors of rape and sexual assault to receive needed professional care, PJ, established the Mirabel Centre which opened its doors to the public, July 2013, thereby offering hope, support and help including free medical and psycho-social counselling to victims of rape and sexual violence. Two years on, Eze- Anaba disclosed that 740 clients have been seen at the centre with the youngest being a 10-month old child and the oldest, a 70-year old grandmother. She disclosed that this number is made up of 720 female clients and 17 male victims, adding that 16 of the male clients are minors but one is an adult. Giving details about where the incidents occurred, she said during the period, the highest incidents of rape and sexual violence cases were reported in Alimosho with 136 clients, followed by Kosofe where 95 cases were recorded; Agege 85; Ifako/Ijaiye 76; Oshodi/Isolo 72; and Ikeja 61. “All the clients are living in Lagos but all the cases didn’t happen in Lagos. For some of them, the cases happened when

Rape and sexual assault have become a common feature in Lagos

they travelled abroad. Some of them happened in Ogun State while many of them happened in Lagos,” she said. On the modus operandi, in the case of a 10-month old baby girl for instance, Counselor at the Mirabel Centre, Valentina Peter-Nkwo, said the mother of the baby saw her husband penetrating his fingers into the daughter’s vagina. The first time the mother saw her baby crying when the father carried her, she never knew that her cry was as a result of her father’s penetration into her vagina. It happened the second time. But at the third time, when the baby starting crying again, her mother went to carry her from the father . As she was carrying the baby away from the father, she discovered that his fingers were inside their baby’s virgina and she raised an alarm. When the woman consistently raised concern over her husband’s evil deed, the husband told her that he has the right to do what he likes with their child. This led to fracas which finally led them to the police station. Unfortunately, at the police station, the issue was not well handled, so the couple were subsequently referred to an agency on domestic violence and while they were discussing

there, she then brought up the issue of sexual assault on her daughter and she was referred again to the Mirabel Centre. On medical examination, officials established that there was penetration in the baby’s vagina. She had to be given antibiotics, added Peter-Nkwo The 70-year-old grandmother was raped by one of the boys that run errands for her. In the course of the sexual assault, the woman was heart-broken and was crying but the suspect threatened to kill her if she dared tell anyone about the incident. Few days later, the old woman summoned courage to talk about it. She was encouraged to report the matter to the police station and she was referred to the Mirabel Centre by the police. According to Eze-Anaba, one of the serious cases the centre has attended to was that of a young girl that was living with her uncle, who on several occasions had sexual intercourse with her and paid her father who was not living with them but was aware of what his brother had been doing to his daughter. After the departure of this uncle, the father took over and continued having sex with the girl. Within that period, the girl aborted CONTINUED ON PAGE 24

Life | Mega City

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Rage of horny fellows CO NTINUED FROM PAG E 23

seven times for the father and the uncle. “Meanwhile, during the last abortion, her womb was punctured which resulted to removing her womb completely,” Itoro said. Another case was that of a lady living with sickle cell anemia. She was going for an interview and while she was waiting by the road side to catch a bus, a man in a car offered her ride to her destination. The so called helper finally turned to be a rapist, who raped the lady right inside his car despite her condition which was very obvious to the eyes. At the police station, on hearing that the accused person is the son of a retired senior police officer, the police officers on duty said they were not sure the incident took place. Another case recorded by the Mirabel Centre is that of a single mother, who had a 12 year old daughter, got married again and her step-father was found on the same bed with her step daughter whom he raped several times. When the woman was asked why she didn’t report the case to the Police, she said if she reported, she will be sent out of her husband’s house. The indecent act continued until the bubble bust. It is not only the female folk that are victims of sex crimes, Eze-Anaba said. With the cases being recorded at the Mirabel Centre, “we have discovered that homosexuality is also gaining ground in our environment. We see that male victims are coming forth.” On how male clients are abused, Peter-Nkwo said, “there is rape – anal penetration; there is putting the perpetrators penis in the mouth of boys and telling them to suckle the sex organ; and there is making the child fondle the perpetrator. “Sexual abuse is rape; it is making me see you naked; it is making me get naked and allowing you to touch me; it is all of that,” added Peter-Nkwo. Furthermore, the managing partner at the Partnership for Justice said, recently, “we were made to understand that foster children are also at risk of sexual crime. Hence, we need organisations like the Mirable Centre where rape and sexual assault cases can be reported and handled.” From the incidence highlighted above, it is clear that there is increase in reported cases of sexual violence, especially child sexual abuse. This malaise is generally acknowledged by government officials and human rights advocates to be endemic. Besides, perpetrators of sexual violence act with impunity due to corruption and/or incompetency in investigation and prosecution of such cases said Eze-Anaba. Majority of the clients that reported sex crimes incidents to the Mirabel Centre are from the Police. Once clients report, the centre provides them with the necessary treatment and issue a medical report which the cen-

L-R: Board Member, Mirabel Centre, Rosemary Akaette; Assistant Director of Nursing Services, Lagos State University Teaching Hospital (LASUTH), Foluke Adesope; Managing Partner, Partnership for Justice, Itoro Eze-Anaba; Counselor, Mirabel Centre, Valentina Peter-Nkwo; and Ambassador of Mirabel Centre, Miss Centenary Nigeria at the media briefing to mark Two-Year Anniversary of the Centre held in Ikeja, Lagos

tre returns to police station. The medical report helps the police pursue prosecution of the suspects. Active prosecution of suspects is the role of the police because it is a crime against the state. “Before it gets to that level, the Mirabel Centre prepares the client for what is coming. We let the client know that the police can be funny; we let her know that different issues may arise throughout the entire process; we let her know the case will not end in a day; we let her know it might take four years; it might take six months; it might take one year. However, whether it takes one day, three months or five years, we let them know we are with them throughout the entire process. At the end of the visit to the Mirabel Centre, the client is in a better place to deal with the issues that will follow as far as prosecution is concerned. Presently, advocacy is on to encourage citizens to speak up on cases so as to engage law enforcement agents follow them up to prosecution level.” Eze-Anaba reasoned that having sexual crime offenders in communities exposes entire people there to sex

For every child that is abused, every other child in that community is at risk

crime. Eze-Anaba said, “Rape is not only crime against that child; it is a crime against the community as a whole. “For every child that is abused, every other child in that community is at risk,” she stressed. So, for the protection and safety of other children, she urged the state to take up the responsibility of protecting that particular child which had been raped.” The way out, according to her is to prosecute offenders and penalise them when convicted in line with constitutional provisions. Sometimes, when it is certain that lives of clients are truly in danger, Eze-Anaba said the Mirabel Centre partners with the Sexual Violence Response Team of Lagos State, Office of the Attorney General, Office of Women Affairs and Poverty Alleviation in Lagos, and Office of the Public Defender and make referrals if need be to address these problems. “We have also had cases where we had to relocate families to somewhere that they are safe because there is so much pressure on the survivor and her mother to settle the matter. “Even though we provide counselling and medical services which are completely free, we also make sure that

our clients are safe wherever they are. If we need to petition the commissioner of police; we do that.” On other factors to tackle the menace of sexual assault, she advised the populace especially the media to de-emphasize regular blame of victims and rape survivors. “The general tendency to blame victims must stop if the society would make progress in fight against this malaise.” Eze-Anaba said rape is one of the problems that we actually need to tackle in this environment, adding, “leaving victims to lick their wounds while the perpetrators roam the neighbourhood free, seeking the next target, is a serious concern that should be addressed.” Assistant Director of Nursing Services, LASUTH, Foluke Adesope, urged parents with female children not to employ male house helps to prevent the children from being abused by the male house help. She said: “Try to look for a girl if you cannot make use of day care service. Even on the use of day care too, we have to be extremely careful. We have to be careful; and we have to be prayerful; spiritually and otherwise. The incidence of rape is on the high side.”

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Ezurike Ugochukwu

s the 30 days given to the Ladipo International Auto spare Parts Dealers by the Mushin Local Government Area passes, apprehension is the word. The traders were told to vacate the market for the purported redevelopment of the market, after the failed initial attempt by the council to evict them out of the market by 30th of July, 2015. But there seems to be no definite direction in sight at the moment, as the matter has taken a new twist. The traders through their counsel, Mr. Richard Nwankwo of Nwankwo & Nwankwo have written a Pre-Action Notice, as an initial legal process to the Mushin council chairman, Hon. Jide Bello. The Pre-Action notice made available to newsmen alleged, “Your agents and officials on 30/6/15 at about 4.30 am invaded our clients’ market and caused extensive damage to same in the process of carrying out demolition.” The traders are also instituting injunctive reliefs and claims for theft of cash, vehicle spare parts, as well as destructions carried out on their properties on account of the local government’s actions as alleged by the reports. The traders have also made a formal complaint to the Lagos State Attorney General’s office, Alausa, the Chief Judge of Lagos State, the Commissioner of Police Lagos State, the National Human Rights Commission, the Public Complaints Commission and the office of the public Defender on the same purported demolition attempts on the market on the orders of the Executive secretary of Mushin local government- Hon. Jide Bello, without due process. The letter to the Attorney General (AG) dated 10th July, 2015 titled, “Re: threats by the Executive Secretary of Mushin Local Government- Mr. Jide Bello, to demolish the Ladipo Main Market, Ladipo Mushin, and the partial demolition and closure carried out on 30/6/2015.” The traders expressed their heartfelt shock on the unruly and barbaric manner with which people said to be agents of the local government chairman, Jide Bello, went about the demolition. They are now asking for the Attorney general’s

Inside Ladipoo market

Officials of Lagos State touring Ladipo Market after announcing the reconstruction plan for the market

Bickering over Ladipo Market intervention over what they termed the chairman’s ‘penchant for arbitrary recourse to self-help’ which they claimed led to his instigation of forceful reclaim of the said property from the traders. Passionately, the traders are asking the Attorney General to promptly institute an investigation into the actions of the council which they perceived as an inexcusable abuse of the rule of law. It will be recalled that the local government and the traders had entered into an agreement June 30, for the traders to vacate the market 30 days from that date; a condition the traders said they accepted under duress in a bid to escape from some unforeseen circumstances at that moment. The local government chair-

Business activities had continued in the Ladipo market unhindered

man had in a media chat in his office, at the wake of the alleged demolition attempt , said the state government had no intention to demolish the market, only that the intention of that June 30, was for the developer to assert ownership of the property and later develop the market in phases. “Therefore, to commence the redevelopment plan, bulldozers of the developer moved in on Tuesday, business activities had continued in the Ladipo market unhindered and the

traders are presently at their stalls carrying out their business transactions.” Hon. Bello said. In the same vein, a human Rights Advocacy group-Crusade for Justice, had said in press release, that the traders are not against modernization and development of the market, but are saying that they be given adequate time, while a human approach be adopted in the course of the job, in order to minimise the effect of physical dislocation of their businesses.

Life | Mega City

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Reawakening textile mills Elijah Samuel

n Lagos, from the Island to the mainland, the sight of the premises which were once the beehives of profitable textile ventures now invoke nostalgia. Most of the textile mills have either relocated operations and their premises taken over by other businesses, or they summarily packed up and abandoned their facilities and installations to rot away. It was once upon a blissful industrial era as the textile mills thrived and blossomed for the benefit of not a few stakeholders. But at the setting in of economic downturn, the fortunes of the once-flourishing textile sector gradually nosedived. The eventual collapse unleashed untoward hardship on not a few stakeholders across the country. But there is a ray of hope after all. Last week, the Federal Government promised to resuscitate the dead textile industry. The Federal Ministry of Agriculture and Rural Development, thus, set up a committee which is expected to come up with recommendations that will drive the resuscitation of the ailing cotton, textile and garments business in Nigeria. However, as the stakeholders expressed delight at the restorative move of the government, they recommended some possible solutions that could enhance maximum implementation of government policies and success. Austin Okechukwu is a dealer in assorted ankara textile products which he imports from China. He lamented the unfavourable business climate as the albatross of business operations. The industry, he said would be alright and would have thrived but lack of power supply, which has been death knell. He said that if the government can intervene by ensuring that stable power supply is available, the industry will thrive. Many textile companies in the country have relocated to neighbouring countries because the environment in Nigeria is not favourable disposed to them. “Now, we import most of the fabrics from China,” he lamented, adding that “apart from power supply, we (dealers and manufacturers) need financial intervention of the government. If the industries are revived and they produce quality goods, we will be happy because we won’t have to undergo the stress that is involved in importation anymore.” But to ensure that the proposed resuscitation of textile industry yields the desired results, adherence to production of quality products is advised by Okechukwu. “Once the industries are revived and they start producing quality fabrics and design, we will patronize them because that is going to save us a lot of time needed to order for the products. But the price is determined by the quality: the higher the quality, the higher the price. Nonetheless, we still have inferiority in what is being imported; those who cannot afford high quality materials buy what they can afford.” For Uchechukwu Victor, another dealer, sustained attention must be given to develop agriculture which is a mainstay of textile mills. “It

Textile materials on display for sale ao Oshodi Market

With stable power supply, quality fabrics will be produced at relatively cheap prices

is imperative that the government makes dedicated effort to develop agriculture because most of the basic materials that are needed in the textile mills are obtained through agriculture. If we don’t give attention to agriculture, we will still depend on importation for major raw materials like the cotton needed in the production of fabrics. With viable agriculture, textiles industry will grow; and with stable power supply, quality fabrics will be produced at relatively cheap prices.” Also lamenting the effect which lack of power supply, as one of the myriad of challenges which entangled and precipitated the collapse of the textile industry, had, Chimechukwu Ebuka, a manager in one of the numerous textile business outfits in Oshodi, said that “textile business is a good one but the greatest of all the challenges facing the industry now in the

country is the lack of stable power supply. This has sent many companies packing out of Nigeria, even the remaining companies in the country are producing at very high cost. It is affecting us as businessmen and the consumers.” While bemoaning the lost glory of textile mills, he blamed unbridled desire to maximize profit as being responsible for the production of inferior textiles in the market. He said: “In the good old days when textile companies were active in Lagos and Nigeria, quality materials were produced. They were better than what we have these days; most of the textile materials that you’ll find in the market today are from China. There is a compromise because of the consideration to maximize profits: some of the importers will go to the factories over there and will specifically or-

der that the quality be lowered. The reason for this, most times, is the exchange rate which is not so favourable to importers.” Ebuka, however, advised that the president has to be strong willed because the cabals which have held this country down for many years will want to hamper his good intentions for the country. Interestingly, social events (owanbe) which are regular feature of the Yoruba socio-cultural life have been identified as a relative driving force in the thriving textile business in Lagos. The decision and need for making uniforms (aso-ebi) during such events is the reason for the boom. According to Ebuka, “The patronage is good but the Yoruba people are contributing a great deal to the progress of sales: because of their social events, they come here to buy CONTINUED ON PAGE 27

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Our Expectations Lagos, a developing mega city – Tunde Kelani Stories by Oluwatosin Omoniyi Tunde Kelani, popularFrianorly known as TK, is a Nigefilmmaker, storyteller,

Textile products on display

photos: Elijah Samuel

Reawakening textile mills CONTINUED FRO M PAG E 26

in large quantities. This is why we are in business.” Having been in business for over four decades, Elder Abiodun Assogba, the Chairman and Chief Executive Officer of Abbeylee Fashions, has a memory of the insincerity and inconsistency on the part of government to keep its part of governance bond. With a tone of doubt, Assogba submitted that “it is a good thing if the government has decided to place a ban on importation of textiles, but the government must be sincere about the implementation. It is a common knowledge that China, which has become a force to reckon with for its economic and technological feats, was resolute in its decisions to shut its borders against importation of many products some years ago. The result is what we see China transformed into today. This is important because Nigerians don’t like patronising madein-Nigeria goods. So, the government must be resolute if economic development is truly desired.” Recalling the good old days, Assogba stated that “some textile companies like Aswani, Afprint and a few ones were booming in trade until we began to have imported textile materials and used clothes commonly referred to as Tokunbo . The presence of these imported ma-

terials gradually choked the textile companies, not only in the state but in the entire country. According to him, the harm which importation did to the textile industries is enormous. He recalled the early part of 1970s, 80s and mid 90s, the textile sector witnessed a relatively impressive number of textile companies which took care of enormous chunk of the population, who were working on shifting arrangement. But when goods from the industries were no longer patronized as a result of importation, people started losing their jobs until the final closures of the companies. The surviving few ones are left with low production of uniforms for schools. “As a tailor, I can say it also has adverse effect on us because people don’t sow clothes again except in the case of aso-ebi (social event uniform). People, irrespective of sex or age, prefer to buy ready-made clothes. For us to make progress in the present drive of the government, there must be a total ban on importation of textiles, whether sewn or not sewn. That’s the only way Nigerians will patronize locally-produced textile materials,” he said. However, Assogba submitted that if the government eventually succeeds in the implementation of ban on textile importation, quality control measures should be deployed in a way that the citizens and other

buyers will be proud to adorn the finished products. Just like some exquisite products like the Swiss watches and Italian shoes are identified with countries of production, textile products from Nigeria should be produced with the aim to earn respect and patronage across the shores of the country. He added that the harsh environment that contributed to the death of textile mills in Lagos and the country in the first place, should be addressed. The problems of unreliable power supply, the purchase and maintenance of generators (inclusive of outrageous fuel cost), inconsistent government policies and the stifling competition orchestrated by influx of imported clothing materials would have to be addressed. Most importantly, he stressed that the employment prospects that accompany the resuscitation of textile mills in the state, the stabilization of the Naira, and the eliminated stress inherent in importation cannot be overemphasized; all classes of labour whether skilled or unskilled will be needed in such companies to contribute their quota, though for agreed wages, in the economic revival and development of the state and the country. The resuscitation he believe will enhance the diversification of the economy. These gains should be the propelling force for the government.

director, photographer, cinematographer and producer; the city of Lagos is a very interesting one. Lagos has become the New York of Africa, a place where thousands Kelani of people flock into. Lagos, he said has the attractive magnet of economic and entertainment power in the whole of Africa. “It is therefore not a coincidence that the home of popular Nigeria film industry is in Lagos,” he said. The popular saying that ‘ti oju a bi ehigbeti, oju o ni ti Eko,’ meaning that Lagos will always excel, “ reason, it is adjudged to be called the centre of excellence,” he said. He described Lagos to be a historic city as well. “Generally speaking, once you live in Lagos, you would always want to stay on,” he said. Citing one of the late Fela Anikulapo’s old song, “Eko oni gba gbakugba ooo.” He explained the song to mean that Lagos is a no place for nonsense but for the clever and smart ones. Although, Lagos, he explained is becoming good and bad because of its becoming overcrowded. It is continuously developing; a typical example, he cited is the Eko Atlantic city, metro line down to Badagry and towards the Lekki-Epe road, “One can see that Lagos is changing every day. And despite the challenge of population, Lagos state is security tight. Lagos has energy that can never be found anywhere in the country,” he said. Despite all of these, there are some interesting parts of Lagos that he said are missing. The Lagos of 70s, 80s, and early part of 90s are no more in Lagos of today. The Lagos of today, he said is very expensive, owe largely to the value of Nigeria’s currency to dollar. For instance, he said he bought his first car, a Mercedes Benz, at N5,000 and by the 80s, it shot up to N17,000 but now, it runs into millions of naira. The night life of Lagos is another missing fun of the city. TK, said no more varieties, no more energy of night life of that time. The fun is no more there. But this is largely due to development springing up almost everywhere in Lagos.” TK also projected that in two years time, the skyline of Lagos would change totally, “it will typically be a tourist attraction place,” he said.

‘Lagos, a place for all’ eco Benson, a Nigerian film direcTmajor tor and producer, said the first attraction for the city of

Lagos is because it was the capital of Nigeria, as such, it is well developed. Lagos is the meeting and melting point of Nigeria. He said Lagos has remained the commercial nerve centre of the country; Benson “in fact, the entire Nigeria is well represented in Lagos,” he noted. Another attraction for Lagos city is the making of Mega City but those at the helm of affairs of the state seemed not to anticipate traffic. “Lekki, for instance is fast opening up into beautiful vicinity but the traffic on this route is killing. I suggest they build flyover, I don’t think it is expensive because I see almost everywhere in the East, Anambra particularly,” he said. For them in the entertainment industry, Lagos has provided aesthetic beauty to boost their confidence even at the international level. Having lived in Lagos for 17 years, Benson said he has witnessed different phases of transformation in terms of development like road and housing infrastructure. He also witnessed the era where everyone including kids drink directly from the TAP (pipe borne water) but now, no one dares do that anymore for fear of disease or infection. Again, the level of flood Lagos is witnessing now was never so and this is largely due to blocked canals. This canals he suggested could be turned into tourist attraction water transport within neighbourhood. “To me, Lagos is the New York and London of Africa. I observed that the system used in managing other states can never be the same to manage Lagos,” he said.

The Mega City

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

MEGA CITY EVENTS Parah family foundation celebrated its 4th year anniversary at the nut pavilion, alausa, lagos

The visioner of Parah Family Foundation, Dayo Odukoya in the middle surrounded by members during the celebration

Some of the children conceived and delivered by the foundation members

the 70th Birthday Celebration of the Executive Director of Gender and Development Action (GADA), Ms Ada Agina Ude, was held at The Bay Lounge Admiralty Road, Lekki phase 1 in Lagos

The celebrant, Ms Ada Agina Ude, cutting her birthday cake with her grand children, Nwadi; David and Nkemjika…at the event

The celebrant, Ms Ada Agina Ude (middle), cutting her birthday cake with the members of Women Arise group at the event

IN NUMBERS 2,500 Lagos commercial drivers screened for blood alcohol

287

Had excessive alcohol level

239

Were hypertensive

Tested positive to substance abuse

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

FCT Watch

MPC meeting: Would Emefiele bite the bullet?

29 Money

Mixed reactions as CBN tightens screws on BDCs

The Investor

Maritime

NSE: Curbing infractions through delisting

Shipowner seeks justice from Buhari

Business What's news

Investors lose N785bn in five blue chip firms

Activities on the Nigerian Stock Exchange (NSE), which had been bearish, have resulted in a loss of about N784.8 billion by shareholders of five most capitalised companies between May and July 16 (two and half months).

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Nigeria, others need N4.8bn to fight bird flu –FAO Nigeria, Burkina Faso, Ivory Coast, Niger and Ghana need N4.8 billion ( $20 million) to stem the outbreak of H5N1 avian flu, the Food and Agriculture Organisation (FAO) has said.

L-R: Assistant General Manager, ISON BPO International Limited, Mr. Steve Obasohan; Global Chief Executive Officer, Mr. Pravin Kumar and Chief Marketing Officer, Opemipo Alebiosu, during a press conference to herald ISON Group’s business expansion in Nigeria, held in Lagos. PHOTO: SULEIMAN HUSAINI.

Concerns over planned publication of bank debtors’ names Anxiety

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The Business Desk Ayodele Aminu

Defaulters blame government for inability to repay

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Tony Chukwunyem

ith less than a fortnight to the expiration of the August 1, 2015, deadline that the Central Bank of Nigeria (CBN) gave banks to publish names of chronic debtors, concern is growing in industry circles that the exercise could lead to lawsuits, thereby making it harder for lenders to recover their funds.

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

New Telegraph’s findings reveal that as most banks are finalising arrangements to go ahead with the publication of the names of recalcitrant debtors, such borrowers are also raising an alarm that the exercise could negatively affect the economy. For instance, in a press statement last Sunday, the Lagos Chamber of Commerce and Industry (LCCI) urged banks not to proceed with the publication as many debtors defaulted due to factors that could be linked to ill-thought out government policies. The Chamber said: “It is important to avoid sweeping generalisations and examine the context of default on a case by case basis. There are varying causal factors for loan

default, which has to be taken into account in matters of this nature.” Also, the Federation of Construction Industry (FOCI) recently faulted the planned publication of the debtors’ list, arguing that its members owed banks because they, in turn, were owed over N500 billion by the Federal Government, a development, it said, had resulted in many construction firms in the country being close to shutting their shops. Specifically, the FOCI Presi-

N550billion Value of the debts owe all the contractors in Nigeria by the Federal Government

dent, Mr. Solomon Ogunbusola, said: “All construction companies in Nigeria are being owed huge sums of money amounting to over N500 billion. We all are being owed, the one that is not interesting to me at all is the threat from the Central Bank telling the commercial banks to publish names of our members who took loans from the banks for projects that they had long completed but not paid, as chronic debtors.” He contended that the name of the Federal Ministry of Works, and other government corporations owing its members should be published alongside as chronic debtors because if they had paid his members, they would have 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 17)

USD . . . . . . . . . . . . . . . . . . . . . . N245 Pounds . . . . . . . . . . . . . . . . . . . N365 Euro . . . . . . . . . . . . . . . . . . . . . . N265

l Foreign Reserves – $29.955bn as at 13/07/2015

Source: CBN

EXCHANGE RATE (Interbank as at July 17)

USD . . . . . . . . . . . . . . . . . . N199.00 Pounds . . . . . . . . . . . . . . . . N315.27 Euro . . . . . . . . . . . . . . . . . . N225.60

Business | News

HINDERANCE The decline in the country’s foreign reserve is a disincentive to investment Chris Ugwu

ctivities on the Nigerian S t o ck Exchange (NSE), which had been bearish, have resulted in a loss of about N784.8 billion by shareholders of five most capitalised companies between May and July 16 (two and half months). The market capitalisation of the Exchange, which measures the

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Investors lose N785bn in five blue chip firms value of stocks listed, stood at N10.627 trillion at the close of trading last Thursday. This is against N11.786 trillion recorded on April 30, leading to overall investment value depreciating by N1.159 trillion. The highly capitalised stocks that lost N784.8 billion during the period under review are Dangote Cement Plc, Nestle Nigeria Plc, Nigerian Breweries Plc, Guaranty Trust Bank Plc and Zenith Bank Plc.

Checks by New Telegraph showed that Dangote Cement, which controls about 28 per cent of overall market capitalisation, led the top five league with a loss of N281 billion or 8.9 per cent to close at N2.862 trillion on July 16 as against N3.143 trillion recorded at the end of April. Nigerian Breweries Plc followed with a drop of N228 billion or 18.32 per cent to close from N1.244 trillion in April to N1.016 trillion last Thursday.

Zenith Bank Plc depreciated by N107.7 billion or 16.21 per cent, from N664.03 billion to N556.3 billion, while Nestle Nigeria Plc declined by N87.2 billion or 11.57 per cent to close at N665.8 billion at the time of filing this report last Monday from N753.02 billion on April 30. Guaranty Trust Bank Plc fell by N80.9 billion or 9.56 per cent, from N846.1 billion to N765.2 billion during the period under review.

Last Thursday, Nigerian stocks posted a seventh consecutive weekly loss, the longest streak since September 2011, as investors anticipating a devaluation of the naira continue to shy away from the country’s assets. The low sentiment in the market has been on the increase as momentum remains with the bears. Financial analysts attribute the ongoing lull in the market to pulling out of foreign investors who make up about 50 per

L-R: Special Guest of Honour, Mr Eugene Eze, Group Managing Director, Vitafoam Nigeria Plc, Mr Taiwo Adeniyi, and others, during the unveiling of Vitafoam’s second Comfort Centre in Warri.

Anxiety over publication of bank debtors’ names CONTINUED FROM PAGE 29

been able to repay the banks. In a chat with New Telegraph, a legal officer at an old generation bank, who declined to be named, said that although lenders backed the CBN’s stance on the issue, they were also getting ready for the adverse publicity and expensive lawsuit that some of the affected debtors would launch against financial institutions as a result of the exercise. He said: “Of course, these bad debtors can be very stubborn. Despite the fact that we have given them several notices to pay up their debts they would ignore you until you are forced to take a drastic step, which is what the publication of the list is meant to achieve. Just like in 2009 when the CBN published a similar list, we

expect that after August 1, many of the debtors would also tell journalists that the list is not accurate and some of them would even go to court to ask for damages.” He said that the debtors would be hoping to exploit the nation’s slow judicial system to either put off repaying the debts for as long as it is convenient for them or, in extreme cases, not to repay at all. Similarly, while restating the bank’s commitment to publishing the debtors’ list, Executive Director at Sterling Bank, Mr. Abubakar Suleiman, stated that the move was necessary because of the attitude of some recalcitrant debtors who believe that they could exploit the country’s slow judicial system to enable them delay repayment of their debts for as long as they want to.

He noted that Sterling Bank was in court with several of such debtors, pointing out that although the process was expensive and time consuming, the lender took the step so as not to send the signal to other bad debtors that they could obtain huge loans that they had no plans of repaying. In a bid to curb what it said were increasing cases of Non-Performing Loans (NPLs), which were in region of between N390 and N420 billion as at May 2015, the CBN had directed banks to give bad debtors a three month grace period beginning from May 1 to July 31, 2015, to repay. It further directed lenders to submit to it the names of debtors that failed to beat the deadline and to also publish the names of such debtors in at least three national newspapers. The regulator also stated that the affected debtors would be banned from the country’s foreign exchange and bond markets.

cent of participants in the stock market since they know that the Nigerian economy significantly depends on oil revenue and they expect the economy to weaken due to the drop in the price of crude oil from $115 per barrel in June 2014 to about $57 per barrel. A stockbroker, Mr. Aruna Kebira, said that the fluctuation in the market is a temporary phenomenon that will correct itself on the long run, as investors regain confidence in the market and the sell down eases. However, analysts at United Capital Plc expect investors to stay cautious and carefully monitor market movements with the Monetary Policy Committee (MPC) meeting due later this week, as the meeting’s outcome will likely play a key role in shaping market direction over the near term. The Managing Director, Cowry Asset Management Limited, Mr. Jonson Chukwu, also attributed the decline in the country’s foreign reserve as a major factor that is making capital market less attractive to investors. He linked the sustainable bear run in the equities market that has led to a considerable drop in value of equities in market capitalisation year to date to decline in foreign reserve. Chukwu noted that external reserve remains a cardinal barometer for assessing the financial risk of an economy, which was usually the first point of call for foreign portfolio investors in either the equities sector or in the debt instruments.

Nigeria, others need N4.8bn to fight bird flu –FAO INFECTIOUS

The highly virulent disease can be transmitted to humans if not checked Bayo Akomolafe

igeria, Burkina Faso, Ivory Coast, Niger and Ghana need N4.8 billion ( $20 million) to stem the outbreak of H5N1 avian flu, the Food and Agriculture Organisation (FAO) has said. The money, it was learnt, would go towards bolstering weak veterinary systems, upgrading laboratories and putting FAO specialists on the ground in affected and at-risk countries The organisation explained that the highly virulent disease can be transmitted to humans if not checked. Already, FAO said that it was working closely with the World

Health Organisation (WHO) on contingency plans and probing suspected flu cases. The organisation noted that bird flu epidemic was centred in Guinea, Liberia and Sierra Leone. According to FAO: “Avian flu could trigger a mass death of chicken, a nutritious and inexpensive source of food for many people with detrimental impacts on diets and on the economy of the region, exacerbating an already difficult situation.” The Head of FAO’s animal health division, Juan Lubroth, warned of “a real risk of further virus spread.” He noted that more things must be done to strengthen veterinary investigation and reporting systems in the region and tackle the disease at the root, before there is a spillover to humans. Responses include destruction of infected and exposed poultry, disinfection of premises and markets and the safe disposal of dead birds.

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

FCT Business Watch MPC meeting: Would Emefiele bite the bullet? Abdulwahab Isa Abuja

fter about two-week extension, the Central Bank of Nigeria’s (CBN) bi-monthly Monetary Policy Committee (MPC) meeting will finally hold tomorrow and Friday. Analysts are anxious of the outcome of the meeting that will set the direction for economic policy. Their concern is hinged on genuine priority since the local currency (naira) has been on a free fall against other major currencies in the past weeks. At the parallel market in recent days, the naira exchanged between N240 to 241 against the United States’ dollar. The nosediving of the naira against major currencies stemmed from recent major policy decisions of the CBN. Previous resolutions At the last MPC meeting in May, the committee took some unique decisions by voting for the retention of the anchor interest rate (MPR) at 13 per cent with a corridor of +/- 200 basis points around the midpoint as well as retained Liquidity Ratio at 30 per cent. After considering the need to curb abuses, it also decided to harmonise the Cash Reserves Requirement (CRR) of the banks on public and private sector deposits at 31.0 per cent. This was a clear departure from decisions of previous MPC meetings in which CRR on private sector deposits was pegged at 20 per cent, while that of public sector was put at 75 per cent. Explaining reasons for the harmonisation, the apex bank governor, Godwin Emefiele, said: “Before now, what we had was CRR based on private sector at 20 per cent and on public sector at 75 per cent. What we have done is to have a composite rate so there is no need for us to have CRR for both private and public sector deposits. “The 31 per cent is just a composite rate, which brings it together and there is no need for anybody to continue to wonder if we are taking CRR based on public sector or on private sector. Basically, (it is) for us to achieve the efficacy of the CRR rate regime in monetary policy.” CBN’s forex restrictions The ban on importers from accessing foreign exchange to import some 41 items has triggered volatility in the forex market. CBN’s action attracted instant reactions from experts and other stakeholders following its shocking effect. In the face of daily tumbling in naira value, calls for further devaluation of naira gained support. The CBN governor and his top

President Muhammadu Buhari

officials, at various fora, gave insights into why import restriction policy has come to stay. Beyond the need to protect local industries from going into extinction because of undue advantage, which some categories of imported items have on locally made items, he said that allowing such items unrestricted access to forex official window would amount to exporting Nigerian’s employment opportunities to countries producing the imported items. The Director, Monetary Policy, CBN, Mr. Moses Tule, justified the apex bank’s decision, adding that the restrictions became necessary since Nigeria is not earning enough foreign exchange and that it would be foolhardy to continue to make the forex available to everyone. He noted that in the first five months of this year, the sum of $575 million was spent on the importation of wheat, while $374 million was spent on fish and $349 million on electrical and electronic appliances into the country. Tule insisted: “It would be wrong to continue with a policy that will keep impoverishing our farmers, local industries and growth of our economy. All we are saying is that the CBN does not have enough foreign exchange to service importers of goods that can be locally manufactured. “Nigeria is a member of the World Trade Organisation (WTO) and we signed a treaty to it. The policy is aimed at building our local industries, creating jobs, reducing the pressure and demand for foreign exchange.” Apparently due to the closure of CBN official channels of forex to some categories of imported items, there has been scarcity

Emefiele

of the US dollar and the British pound sterling. However, with enforcement of forex restriction policy in place, foreign reserves, which had steadied at $29 billion position level for weeks has increased to $31 billion in recent weeks after gaining some accruals.

It would be foolhardy to continue to make the forex available to everyone

Devaluation as option The CBN had said that devaluation was not an option on its card. It stated that the decision not to further devalue the naira was borne out of the need to safeguard the Nigerian economy from the shocks and negative impact the depreciation would have on the economy. 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 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. Similarly, Femi Olaloku, Executive Director, Treasury, at the United Bank for Africa Plc, said he was expecting further devaluation of the naira to take place soon. “The dwindling oil prices around the globe poses serious challenges to a developing economy like Nigeria, hence the need for government to also consider various diversification options,” he 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.” But the apex bank reiterated its stance in a statement by its Director, Corporate Communications, Mr. Ibrahim Mu’azu, apparently responding to an article supporting naira devaluation, published in the Economist magazine. He categorically 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 deemphasise the parallel market; how can less that one per cent be determinant of the rate? Most of those going that way are those that don’t want to be documented.” Experts’ forecast on MPC Ahead of MPC’s meeting beginning from tomorrow in Abuja, expectations are high that the CBN might use the occasion to reverse some of the key policies, including taking a stand on devaluation of the naira, which many analysts said has become unsustainable. Speaking with New Telegraph by phone, an Economist and senior lecturer at the department of Economics, University of Ibadan, Dr. Abiodun Folawewo, said that he expected the CBN to adjust its lending rate (Monetary Policy Rate) from 13 per cent to 12 per cent to enable investors borrow at reasonable rate from the banks. He said that he also expected the apex bank to announce expansionary monetary policy, which comprises reduction in prime interest rate and narrowing the gap between parallel exchange and official rate. Conclusion Being a forum of seasoned experts and Economists, decisions reached by MPC are determined by votes. For a decision to be ratified, it’s subjected to members’ vote. Any item that carries majority of MPC member’s votes gets ratified. But the multi-billion dollar question is whether the MPC will finally take a decisive stand on the naira.

Business |Money

After easing regulatory requirements for Bureau de Change (BDCs) operators last January, the Central Bank of Nigeria (CBN) has in recent weeks imposed more requirements on the sub-sector. These have attracted mixed reactions. Tony Chukwunyem reports

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Mixed reactions as CBN tightens screws on BDCs sues 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.

n January this year, when the Central Bank of Nigeria (CBN)increased the weekly supply of dollars to BDC operators from $15,000 per BDC, to $30,000 the move seemed to mark a sharp turnaround from what had looked like the hostile stance of the apex bank towards the sub-sector, especially the beginning from when the current CBN Governor, Mr. Godwin Emefiele, assumed office in June last year. Fractious beginning Indeed, one of the first key decisions that the regulator made under Mr. Godwin Emefiele’s leadership was to revise upward the minimum capital requirements for BDCs operating in the country from N10 million to N35 million. The regulator explained then that it introduced the new requirements in a bid to correct observed deficiencies in the operation of BDCs, which it noted had led to gross inefficiencies and sharp practices in the foreign exchange market such as rent-seeking, financing of unauthorised transactions and dollarisation, among other. The CBN also reviewed the mandatory cautionary deposit for BDCs to N35 million and directed that the fee should be deposited in a non-interest yielding account in the apex bank. Furthermore, it raised BDC’s application and licensing fees to N100,000 and N1 million respectively, while also increasing the annual renewal fee for the forex dealers to N250,000. The CBN said that the move would lead to BDCs being properly structured, effectively regulated and well capitalised to meet the objectives for which they were licenced. All existing BDCs and those currently operating with a final approval letter were expected to comply with the new mandatory cautionary deposit requirements by July 15, 2014. BDC operators opposed the new regulatory requirements and accused the CBN of trying to drive them out of business. Apart from the fact that the requirements were stiff, they said that the deadline was too short. Although the CBN extended the deadline to July 31, 2014, it turned down strident requests by the operators that it should ease some of the new requirements. Number of recertified BDCs rising Before the hike in minimum capital requirement, a total of

Deputy Governor, Economics Policy Directorate, Dr. Sarah Alade

Abcon Acting President, Aminu Gwadabe

3,208 BDCs were officially registered with the CBN and it was generally believed that there would be a significant reduction in this number when the July 31, 2014 deadline expired. However, this was not to be the case. Reason: Although the CBN had on August 15, 2014, announced that a total of 2,442 BDCs met the new capital requirements at the expiration of the deadline, it had since then regularly added fresh batches to its list of recertified BDCs. Thus, in the last fortnight, the list of recertified BDCs in the country had grown to 2,715, showing that the number of these firms had increased by 27, compared to the 2,688 BDCs, which the banking watchdog confirmed had complied with the new requirements as at June 10, 2015. BDCs’ suspension/ABCON’s letter But while it may still be recertifying qualified BDCs, this has not prevented the CBN from clamping down on operators that flout its regulations. For instance, the regulator, last month, suspended 437 BDC operators from accessing its weekly dollar sales from the foreign exchange market, citing the firms’ non-rendition of returns to the apex bank. Apart from being denied access to the $30,000 weekly allocations to operators, each of the affected BDCs was fined N2 million. Following this development, the Association of Bureau De Change Operators of Nigeria (ABCON) wrote an open letter to Emefiele, appealing to the regulator to ease some of the regulatory requirements for BDC operations in the country. In the letter signed by ABCON’s Acting Chairman, Aminu Gwadabe, the association complained that the BDC sub-sector of the foreign exchange market was being hindered from per-

The regulator last month suspended 437 BDC operators from accessing its weekly dollars sales

forming its mandatory role in the financial sector because of what it described as “overregulation and complex documentation requirements.” The association 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 sub-sector that is only involved as a small market player.” As the association put it, “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 is also under obligation to render same returns to the Economic and Financial Crimes Commission/Nigeria Financial Intelligence Unit (EFCC/ NFIU), while at the same time reporting to other statutory government establishments as the Federal Inland Revenue Service (FIRS) and the Corporate Affairs Commission (CAC) respectively.” It 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 their initial capital and so upgrade their documentation with the CAC, the Commission also hiked incorporation fees, thereby charging enormously for the perfecting of documents. Other challenges cited by the association include network is-

BVN for BDC transactions However, while the letter was still generating reactions in industry circles last week, the CBN issued a circular directing that beginning from August 1, this year, all foreign exchange transactions by BDCs must have the Bank Verification Number (BVN) of the customer, which must be included in the periodic returns that the operators submit to the regulator. It also mandated all directors of BDCs to submit their BVN latest August 15, 2015. According to the circular signed by CBN’s Director, Financial Policy & Regulation Department, Mr. Kevin Amugo, “to ensure a hitch-free implementation of this directive, the list of all licensed BDCs would be provided by the Central Bank of Nigeria to the Nigerian Interbank Settlement System, (NIBSS), to enable the company provide necessary hardware token that would be used by the BDC in accessing the NIBSS website. NIBSS has been directed to make a portal available on its website to facilitate access for the confirmation/validation of the BVN of the BDCs’ customers. This is to ensure that the correct BVN is recorded by the BDC and included in the returns to the CBN. “A token transaction fee of N100 would be paid for each access on the portal. NIBSS will also provide the necessary training manual for an ‘easy to use’ operation of the system,” the circular stated. Stakeholders’ reactions Reacting to the CBN’s requirements for the sub-sector, a BDC operator, who requested anonymity on the grounds that ABCON was yet to state its position on the issue, argued that it was another attempt by the CBN to put them out of business. He said: “BDCs are overregulated in this country. The CBN should find out how BDCs operate in other parts of the world. In other countries, BDCs have access to a lot of dollar. For instance, in Dubai, tourists bring in a lot of dollar. But in Nigeria, CBN is the main supplier of dollar. Previously, Western Union used to pay beneficiaries in dollar and some of these dollar used to end up with BDC operators. But two years ago when the CBN directed that such payments be made in naira, this source dried CONTINUED ON PAGE 33

Business | Money

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

DIVERGENCE

Spread between interbank and parallel markets hits N46 Tony Chukwunyem

he widening gap between the interbank and parallel markets’ exchange rates is facilitating ongoing arbitraging and speculation opportunities in the foreign exchange market, thus putting more pressure on the naira, Chief Executive Officer, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has said. He disclosed this in the FDC’s latest economic bulletin. Said he: “Even though the Central Bank of Nigeria (CBN) is committed to defending the naira, the currency pressures facing Nigeria are becoming more intense. The spread between the interbank rate and the parallel market creates an arbitrage corridor for speculators, and is now a round tripper’s paradise.” As at the end of last week, the naira had steadily declined to N245 to the dollar on the parallel market, but it remained stable between the region of N197 and N199 to the dollar at the official Interbank Foreign Exchange Market (IFEM). Consequently, the op-

Why there’s pressure on naira, by Rewane portunities for round tripping are created as large sums of dollar can be acquired at the official rate at between N197 and N199 to a dollar and resold at the parallel market at N245 to a dollar. Analysts attribute the divergence between the parallel and IFEM rates

to the restriction on access to foreign exchange at the interbank market that the CBN placed on importers of 41 items such as rice, cement, tooth pick, furniture and vegetables, among others. Although the apex bank defended the policy, arguing that it was aimed

at encouraging local production and reducing the pressure on the country’s fast depleting external reserves, stakeholders pointed out that the policy will lead to the diversion of dollar demand to the black market. For instance, in its reaction to the policy,

advised the CBN to allow market mechanism to drive the allocation of foreign exchange, stated: “The closer the rate is to equilibrium the better for the economy and less disruptive for investors.” Interestingly, black market operators are worried about the widening exchange rate differential. A dealer in Lagos explained that if the trend were not checked, small time businessmen who patronise the black market for their foreign currency needs would not be able to afford the rates.

L-R: Social mission Manager, Africa, Hygiene & Nutrition Brand, Unilever, Avinish Jain; Brand Building Director, David Okeme; Category Manager, Oral Care, Bunmi Adeniba; President, Nigerian Dental Association, Dr Bode Ijarogbe and Brand Manager, Pepsodent, George Umoh, at the launch of Pepsodent Oral Health Schools’ Programme in Lagos. PHOTO: SULEIMAN HUSAINI.

eveloping nations have dumped plans to create a global tax authority, according to officials at a United Nations (UN) global development summit held in Ethiopia at the weekend. Poorer countries, as part of the 134-member Group of 77 bloc, had been lobbying hard for an end to multinationals’ profit shifting, which the UN’s trade and development body, United Nations Conference on Trade and Development (UNCTAD), says costs poorer countries some $100 billion a year. They wanted a UN-managed inter-governmental body charged with overseeing a new set of global fiscal regulations to be created, replac-

Developing nations abandon global tax plan ing the current set-up where such matters are managed by the Organisation for Economic Co-operation and Development (OECD), the so-called “rich man’s club.” Richer countries, led by Britain and the US, were opposed to the plan. The dispute was the major issue at the centre of the summit, which tackled the question of how to plug an estimated $2.5 trillion gap in development financing.

The final text of the summit shows developing nations dropped their demands for a global tax body, with the text only mentioning that a subsidiary committee of the UN’s Economic and Social Council — which only has a consultative role — will handle the matter. It says that their governments will in future appoint members of this committee and that it will be more geographically representative.

How Islamic finance can fund SDG –Experts

the Lagos Chamber of Commerce and Industry (LCCI) said that the measures would create exchange rate differential that will in turn induce rampant round tripping of foreign exchange, which the apex bank has limited capacity to check. The Chamber, which

slamic finance can serve as a strong and non-traditional source of financing the Sustainable Development Goals (SDGs) according to global experts. Speaking at a seminar with the theme: “Mobilising Non-traditional Sources of Finance to Achieve Sustainable Development Goals (SDGs): The Role of Islamic Finance,” the IDB President, Dr Ahmad Mohamed Ali, stated that the SDGs, which contain 17 goals and 169 targets, and are expect-

ed to replace the Millennium Development Goals (MDGs), could address major global challenges and promote financial inclusion, especially to the under-privileged segment of the society. The IDB president, who was represented by Chief Economist at the IDB, Dr. Savas Alpay, called on world leaders to move faster, take strong and decisive actions in order to fulfil the commitments made by governments and international agen-

cies for the implementation of the SDGs. “Islamic finance has footprint in Asia and Middle East, is ripe for growth in South America and Europe and has future markets in North America, Central Asia and Australia. Its global assets have grown considerably and are estimated to have reached $1.8 trillion by 2014 with compounded annual growth rate of about 15 to 20 per cent,” the chief economist stated.

CBN tightens screws on BDCs CONTINUED FROM PAGE 32

up.” He lamented that customers prefer to patronise the black market because operators in that market don’t ask such customers to fill forms or do other documentation, which they (customers) may find burdensome. He said: “The solution is for the CBN to take strong action against black market operators. If the activities of black market operators are curbed, people will start patronising BDCs. Overseas, the black market operators do not have a free reign the way they have here in Nigeria.” He further argued that the 3.5 per cent, which is the CBN allowed spread for BDCs was too marginal to cover costs and enable operators grow their business. But in his reaction, Senior Financial Analyst at Berta Investments Ltd., Mr. Ben Ikeobi, contended that the BDCs should not complain about being overregulat-

ed by the CBN because they are allocated dollar weekly by the apex bank. He said: “The BDCs get weekly dollar allocations from the CBN and yet they are complaining of being overregulated. If they want to be free of regulations, they should stop going to the CBN for dollar and source theirs instead.” He noted that black market operators whose margins are a lot better because they are not regulated mop up the dollar bought by BDCs. Conclusion Analysts point out that the CBN’s ongoing recertification of BDCs is an indication that the apex bank recognises the vital role that the subsector plays, catering for the large number of Small and Medium Enterprises (SMEs) in the country. Consequently, these analysts believe that the CBN should introduce policies that would boost BDCs’ growth instead of measures that constrict their operations.

Business | The Investor

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

NSE: Curbing infractions through delisting Chris Ugwu

isting is a process by which public companies become members of a relevant Stock Exchange for the purpose of offering their shares to the investing public. The Securities and Exchange Commission (SEC) on the other hand, is the apex regulatory institution of the Stock Exchange that provides the platform for the issuance of shares and other securities to the public, and stock trading. It also monitors and controls the capital market by ensuring compliance with post-listing requirements. Just like in other climes, before a company is listed on the Nigerian Stock Exchange (NSE), there are certain requirements it must meet. Even after listing, there are also standard requirements to be met. These include, among others, regular dissemination of information about the financial performances and any changes that can affect their operations. However, over the years, many quoted companies have been violating this important obligation, thereby keeping investors in the dark about their financial health. These lapses in adherence to the principles of corporate governance have contributed majorly to crisis in the local bourse during the global financial meltdown in 2008/2009. Many ignorant investors have burnt their fingers by investing in some of the dormant companies, which do not furnish the market with their financials. Following serial infractions by market players, the SEC and the NSE wielded the big stick by either giving notice to some companies on intention to delist or to completely delist them from the Exchange’s official list for violating post-listing requirements. The reaffirmed commitment by the regulator to do anything to compel operators in the market to obey the rules guiding it informed the decision to tighten the noose on market infractions and other miscellaneous capital market crimes. This avowed determination recently saw three companies delisted on issues relating to corporate governance breaches. The culprits The Exchange, last week, delisted Nigeria Wire & Cable, Nigerian Sewing Machine Manufacturing and Stokvis Nigeria Plc, over the failure of the directors of the three ailing firms to restructure their operations and enhance corporate governance, as required by listing requirements at the Exchange. The compulsory delisting automatically removed the three companies, which had about 1.81 billion ordinary shares of 50 kobo each outstanding, from the trading engine and other trading cycles, processes and documents. However, the companies can still be traded on the NASD Plc, the over-the-counter market for

Trading floor

unlisted public limited liability companies, where most delisted companies had migrated. According to investigations, Stokvis was last traded at 14 kobo, about 72 per cent below its nominal value of 50 kobo. Nigerian Sewing Machine Manufacturing’s last trading price was 15 kobo, some 70 per cent below its nominal value of 50 kobo, while Nigeria Wire & Cable has been flat at its nominal value of 50 kobo. Reasons for delisting The NSE said that the companies failed to take any step to regularise their listing status, referring to the long-drawn absence of corporate results and information about their operations. The three companies had remained stagnant over the years. The NSE had, in November 2014, gave Stokvis, Nigerian Sewing Machine Manufacturing and Nigerian Wire and Cable and 15 other companies 12 months grace period to enable them restructure their operations and comply with the listing requirements at the Exchange. During this period, the companies are required to file quarterly progress reports updating the Exchange about their activities and various steps they are taking towards fulfilling their post -listing obligations. The management of the Exchange stated that it would continue to engage the remaining 15 companies that have taken steps towards regularising their listing statuses with a view to bringing them into compliance with their post-listing obligations. The other 15 companies under watch included Investment and Allied Insurance Plc, Jos International Breweries Plc, Goldlink Insurance, Adswitch, Daar Communication, FTN Cocoa Process-

ing, UTC Nigeria, Capital Oil and Golden Guinea, among others.

Penalising erring companies is a signal that it is no longer business as usual.

Commitment to zero tolerance The NSE, in an effort to achieve a world-class capital market, has reiterated its commitment to maintain zero tolerance posture on dealing member firms and quoted companies on violations of rules and regulations. This is on the back of the Exchange’s determination to shift gears to drive innovations centered on increasing global visibility for the Nigerian capital market in the current year. Chief Executive Officer, NSE, Mr. Oscar Onyema, speaking at an investors’ forum last year, said that the Exchange will sustain a zero-tolerance stance on dealing member firms and listed companies’ violations. He noted that the Exchange proposed several rules to codify the accepted mode of engagement in the market, adding that of a particular interest was its proposed Related Parties Transaction rule and rules around the conduct of Annual General Meetings (AGMs). He said that while the NSE’s focus from 2011 to 2013 has been on revamping corporate governance, improving human capacity, cleansing and restructuring the market, improving technology, product development and advocacy for changes to policy, “from 2014, the Exchange is determined to shift gears to drive innovations centered on increasing global visibility for the Nigerian capital market.” Operators’ voice Commenting to these developments, Managing Director, Crane Securities, Mr. Mike Eze, said that the action of the NSE will boost investors’ confidence in the market because it is sending a signal that the NSE’s management un-

derstands the need for investors to get companies’ financial reports as at when due. He said that delisting of the companies are ways, which the Exchange is using to tell the investing public that they really want to revive confidence in the market. Eze said that investors need to take informed decisions before choosing which stock to buy, stressing that this could only be achieved if there is adherence of good corporate governance by the quoted companies. A founding member of Nigeria Shareholders Solidarity Association (NSSA) and one of the leading shareholders’ activists, Alhaji Gbadebo Olatokunbo, said penalising erring companies is a signal that it is no longer business as usual. “The action is great and it shows that the NSE management is alive to its responsibilities. Besides, it is a signal to the companies in particular and the capital market in general that it is no longer business as usual. We must always abide by the rules,” he said. Olatokunbo noted that the sanction would make other companies sit up and post their results as at when due thereby providing investors, analyst and stockbrokers the platform to predict the real value of the companies. However, some shareholders in the capital market have decried inability of the Exchange to engage in consultation with shareholders before the decision to delist the companies they have interest in. The shareholders, who lamented that investors, especially domestic retail investors, always suffered significant losses whenever companies were delisted, said that there was the need for the Exchange to provide more information about how it arrived at its decision. National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir. Sunny Nwosu, is one of those pushing this stance. He said: “Yes, there are some of the companies that look dilapidated and there are some for which I think they, the Exchange, should have done a lot of consultation, especially with the shareholders because we have suffered a lot in the system. “You just see people delisting and we have trustees and others that insured these companies when they came to the market. “The trustees are not saying anything to the shareholders, the intervention fund is not saying anything to the shareholders and we have not heard anything from the NSE about what the shareholders will lose.” Conclusion To build a world-class market, SEC and NSE should continue to focus more on investor protection and restoration as well as sustenance of investors’ confidence in the market. Both local and foreign investors would feel protected and confident to participate when a market is perceived as fair, efficient and transparent with a strong enforcement regime.

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Maritime

Timber exports from Nigeria, others grow p.36

Terminal operator invests N70bn at Tincan Port p.37

Shipowner seeks justice from Buhari A ship owner, Ms. Nike Jolapamo, has urged President Muhammadu Buhari to intervene in the recovery of N564 million ($2.35 million), allegedly swindled from her by Captain Niyi Labinjo, President of the Nigeria Shipowner Association (NISA). But Labinjo said that the issue should be left for the court and police to decide, BAYO AKOMOLAFE reports

he Managing Director of Accenk Maritime and Energy Services Limited, Nike Jolapamo, has said that the move to recover the loan she took in a bank from the president of Nigeria Shippers’ Association (NISA) through the Economic and Financial Crime Commission (EFCC), has yielded no fruit. She explained that the money was part of the $6.85 million loan secured from a bank for vessel acquisition in Greece. Jolapamo said that she was wondering why the EFCC could not find solution to the issue. The managing director said that she has no other option than to appeal to President Buhari to intervene and save her from total ruin, noting that the bank, which gave the loan to her, has seized her vessel and has declared its intention to institute a legal action against her. She noted that NISA had intervened in the matter and had suspended the president of the association, Captain Niyi Labinjo, over the alleged fraud. Allegation She warned her counterparts in coastal shipping trade to steer clear of a recent deal of 40 ships acquisition by the now suspended president. Jolapamo alleged that the Greek shipbroker, Radunia International Corporation of Greece, that brokered the deal between Nigerian shipowners and the Greek shipowners was the same company that Labinjo and his wife used for the business deal with her. She alleged that the deal was designed to swindle them of their money. Earlier in the month, a faction of NISA members and their Greek counterparts signed a memorandum of understanding on the ac-

lLet police, court decide – defendant over in acting capacity pending when Labinjo clears his name. The acting president said that the decision to ask Labinjo to step aside was taken in the best interest of the association. Justification He explained that the association had received letters from various agencies of government, which threatened not to transact any business with it if Labinjo remained the president. Umar said: “The decision was not to witch-hunt Labinjo, but was taken in the interest of the association. We have therefore decided that the president should step aside to allow him concentrate on clearing his involvement in this allegation and to allow the association focus on our aim and objectives.”

Jolapamo

Labinjo

quisition of 40 vessels to facilitate cabotage trade in Nigeria. She stressed: “This same Nikos Moraitis, owner of the Greek ship company, was the same guy that I saw on television saying that they are going to bring 40 vessels to Nigeria. It’s a fraud and lie. That was the same guy used to defraud me. He is Labinjo’s personal friend.” Failed transaction Recalling her experience in the vessel purchase saga, Jolapamo said that while one out of the two vessels was purchased and delivered to Nigeria, “the Labinjos had since failed to remit the balance of $2.35 million meant for the purchase of the other vessel.” She alleged that the $2.35 million had been transferred from the Greek shipbroker into various company accounts owned by the Labinjos. Jolapamo said that she had complained to the EFCC, but nothing tangible had been done to recover the money. Imminent legal action The shipowner noted that the bank that granted her the loan had instituted a legal action against her following Labinjo’s refusal to pay the money while the purchased vessel was now in the bank’s custody. She said: “This is about integrity and justice has to be done. I cannot be taken to court for a loan I collected and didn’t collect a dime from it.” They asked him (Labinjo) what he did with the money, he said that it was used for the regis-

tration of the vessel but no document was done for the vessel. The vessel is at the Naval dock yard since it came.”

NISA had intervened in the matter and had suspended the president of the association, Captain Niyi Labinjo

Labinjo’s position However, Labinjo explained that a private transaction by his company without the involvement of NISA should not amount to an act inimical to the aims and objectives of the association. He noted: “I have repeatedly stated that I do not think it is wise to trash out commercial disputes on the pages of newspapers. By design, all commercial transactions have provision for dispute resolution, which could be litigation in courts or arbitration. “Where a crime is alleged, the Police and the courts are the appropriate establishment for the resolution. The allegation against my person has been reported to the Economic and Financial Crimes Commission (EFCC) and the agency is seized of all the facts.” The president advised those gauging on his detractor to desist from such, saying that it would take them nowhere. Stakeholders’ reaction Meanwhile, the general assembly of the association has ordered Labinjo to step aside as president of the association until he clears his name with the Economic and Financial Crimes Commission (EFCC) over the $5.85 million ship purchase scandal. In his stead, members of NISA have unanimously asked the second Vice President of the association, Alhaji Aminu Umar to take

Clarification The acting president explained that Labinjo had not been sacked or suspended from the association, but was only asked to step aside from the office of president so that the bandwagon of the scandal would not rub off on the association. Umar stressed: “We have reiterated that anytime he comes with a letter from the anti-corruption agency stating that he has cleared his name, he would be reinstated immediately as president.” Committee Also, the General Secretary of the association, Tunji Brown, noted that the executive had set up a committee made up of shipowners and ship finance experts to review all information at their disposal and Labinjo was indicted by the committee. He explained: “Before the executive took the decision on Labinjo to step aside, we set up a committee made up of ship owners and ship finance experts to review all information at our disposal and Labinjo was indicted. “We saw that he was involved in all the transaction and movement of funds from his account.” Conclusion The NISA scribe said that the association would not have intervened in the failed business deal because it was a private affairs. He noted that the company petitioned the association, the Federal Ministry of Transport, Nigerian Shippers Council, Nigerian Maritime Administration and Safety Agency and the Nigerian Ports Authority. Also, he explained that the EFCC got the association involved. Tunji said that the botch deal had a toll on NISA members as banks were skeptical about doing business with them.

Business | Maritime

DEMAND High demand raises timber price in Europe Stories by Bayo Akomolafe

urope has become a huge export market for timber for Nigeria, Côte d’Ivoire, Ghana and Cameroon in the last few months. It was learnt that European demand for sawn sapele, iroko, wawa and sipo, has remained at a

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Timber exports from Nigeria, others grow good overall level and improved in some markets. Nigeria exports small volumes averaging 0.1 million m3 Round Wood Equivalent3 (RWE) of natural forest products, but virtually none is exported to China. The value of the exports is approximately $50 million, a fifth of which is logs. It was learnt that despite a log export ban, India imports most of Nige-

ria’s logs, while nearly all sawn wood heads to Italy. Export volumes peaked at just over 0.2 million m3. However, importers from European Union (EU) are raising their voices over price hikes instituted by Ghanaian suppliers in the last few weeks. They said that the trend could dampen demand if not checked. It was revealed that prices in Ghana were

raised against the background of the strong US dollar, to which the Ghanaian cedi is tied. This has made the old eurobased sales prices increasingly unattractive for Ghanaian sawmills. Prices for most of the other key African species for European markets have been stable in recent weeks, after several rounds of price hikes were pushed through last year.

IMO launches platform to improve information sharing

new inter-agency platform for information sharing on migrant smuggling by sea has been launched by the International Maritime Organisation (IMO), to better understand unsafe mixed migration by sea. Also,the International Organisation for Migration (IOM) and the United Nations Office on Drugs and Crime (UNODC) supported the organisation. It is anticipated that the platform will assist

in improved monitoring of incidents associated with unsafe and irregular mixed migration by sea, on a global basis, with a view to better analysis of trends. The IMO/IOM/UNODC platform, according to a statement, will include a joint database on migrant incidents and on suspected smugglers and vessels. A revised reporting format for states, international organisations and relevant non-governmental organisations to submit information to the database was recently agreed at IMO’s Maritime Safety Committee (MSC 95). The joint information sharing platform was initiated following the Inter-agency High-level Meeting to Address Unsafe Mixed Migration in March, which was held at IMO headquarters, London, with the aim of facilitating dialogue and promoting enhanced cooperation and harmonisation between United Nations agencies, international organisations, non-governmental organisations, governments and the shipping industry.

Ghanaian delegation at Rivers Port to understudy NPA

three-man delegation from Ghana Ports and Harbours Authority (GPHA) has visited the Rivers Port in Port Harcourt to understudy the operation of the Nigerian Ports Authority (NPA). The delegation, according to a business, was led by Mr. Samuel NtowKummi, accompanied to Nigeria by Roderick Odoo, and Nuhu Khalid. Receiving the delegation, the immediate past Port Manager, Mrs. Carolyn Akum Ufere, now the General Manager, Special Duties, Marina, Lagos described the visit as a bold step aimed at learning the rudiments of Nigerian Ports Authority system, with the aim of achieving synergy. She advised the visitors to incorporate the positive things they learnt from Nigeria into their port system. Earlier, Ntwo-Kummi said: “We have learned a lot about Rivers Port and Onne Port even in Ghana, and our coming here have made us to see things for ourselves. “We are particularly impressed after the guided tour of Port Harcourt and Onne Ports,” he said.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Terminal operator invests N70bn at Tincan Port IMPROVEMENT There is tremendous improvement in vessel turnaround time at the Tincan port Stories by Bayo Akomolafe

he Tin Can Island Container Terminal Limited (TICT) has invested about N70

billion on facilities at the Tincan Island Port since it commenced operation in 2006. Its Managing Director, Mr. Etienne Rocher, told the Executive Secretary of Nigerian Shippers’ Council (NSC) during a courtesy visit to his office. Rocher explained that the terminal had improved on service delivery within the Tin Can Island Port Complex since it commenced operation. The managing director stressed that the company had

recorded massive development after taking over from the Nigerian Ports Authority (NPA). He explained that vessels no longer experience congestion at sea because there were available berthing spaces at the quayside. Rocher said that there had been tremendous improvement in vessel turnaround time at the terminal, saying that vessels now stay a few hours at the quay to discharge

and large human traffic around the port both of which were not within the control of TICT. Bello, who was accompanied on the visit by other officials of the NSC, commended the terminal operator for its investment. He promised to engage relevant bodies, especially the various associations of freight forwarders, to look into how to reduce human traffic caused by their members in the port.

consignments as against the 30 days spent for the same purpose before concession. He commended the Nigeria Customs Service (NCS) and other stakeholders for their supports. The managing director promised that his company was committed to further development of port operation in Nigeria. Rocher explained the challenges faced by the company as including the traffic gridlock

Customs urge hotels, others to shun smuggled chicken he Nigeria Customs Ser- Customs officers. He noted that a significant T vice (NCS) has urged hotel and restaurant owners, fast number of the frozen prodfood outlet operators as well as barbecue sellers to shun smuggled chicken in order to protect the Nigerian poultry industry. Its Public Relations Officer, Mr. Wale Adeniyi, a deputy comptroller, in a statement said that customs have set up “Hawk Descend” to tackle smuggled poultry at the border. He explained that some frozen poultry products worth over N12 million were seized during the first week of operation “Hawk Descend” in the South Western axis of Nigeria – Benin border last week. Adeniyi stressed: “The seizures consist of 1,803 cartons of the banned products confiscated in the operation. Most of the seizures were made when commercial vehicles conveying them were apprehended by

ucts were seized on the IyafinBadagry waterways on the Lagoon that stretches through the Nigeria and Benin Border. Adeniyi added that seizures were made by the Federal Operations Unit, Ikeja, which seized 975 cartons of chicken; Seme Command - 461 cartons; Oyo/Osun Command, 247 cartons and Western marine Command, 110 cartons Assessing the first week of the operation, he said that the Comptroller-General of Customs, Alhaji Dikko Abdullahi, acknowledged the support of border communities in effecting the seizures. He commended the communities in the area for obliging Customs’ patrol officers reliable intelligence about the activities of poultry products smugglers and cold room operators.

Container shipping line revises W’African freight services

rench container shipping line, CMA CGM has announced a revision of the company’s West African freight services per week, which also saw the group’s largest vessel christened whilst visiting Hamburg. It was learnt that the upgrade to the EURAF 4 service would take immediate effect connecting West Africa directly to West Mediterranean markets each week as from July 18 with the Maltese departure of the MV Spirit of Cape Town. Until now, the service had been calling the following ports: Tangiers, Lome, Cotonou, Port Gentil, Libreville, Lome and Tangiers. This will now be revised with the addition of two new vessels meaning seven ships between 2,200 and 2,700 TEU capacity will sail the following rotation: Malta, Livorno, Genoa, Fos-sur-Mer, Barcelona, Valencia, Tangiers, Cotonou, Lome, Port Gentil, Libreville, Tangiers, Malta. The hub port of Tangiers will offer EURAF 1, EURAF2, EURAF 3, EURAF 5, WAZZAN and Guinea Express services whilst the Malta hub connects

via EURAF 4 to the East Mediterranean, Red and Black Seas and North Africa. The CMA CGM Group has had an historical presence in Africa, since 2001 with the launching of its WAX service with the acquisition of Delmas in 2006 reinforcing this. The Group now calls at 28 ports in West Africa. In Hamburg, the christening of the CMA CGM Georg Forster went ahead in the presence of Jacques R. Saadé, Chairman and Chief Executive Officer of CMA CGM Group and Mrs. Christine Kuehne, the vessel’s godmother, together with many of institutional and political representatives, partners and clients. At 398 metres and with a capacity of 18,000 TEU the Georg Forster is the groups largest ship, the second such craft of the series of six that will enter the fleet in 2015 and join the company’s other 460 vessels. Meanwhile, the company has finalised orders for the largest containerships. The order came after posting a 43.2per cent jump in net profit in 2014 to $584 million.

MV Kota Nabil Singapore arrived Lagos Port with hundreds of containers

Ministry orders collection of POF at port

ouncil for the Regulation of Freight Forwarding in Nigeria (CRFFN) has been directed by the Federal Ministry of Transport to commence the collection of the controversial Professional Operating Fee (POF). The council is targeting N2 billion annually from the fee. Director of Maritime Services in the ministry, Musa Nagogo, issued the directive in a letter dated July 15, 2015. However, it is not clear if a court case instituted by the Association of Nigerian licensed Customs Agents (ANLCA) against the Ministry, CRFFN, the Attorney-General of the Federation and four registered freight forwarding associations at the Federal High Court, Lagos,

would not stall the directive. The letter reads in part: “The Minister of Transport had approved the collection of Practitioners’ Operating Fees (POF) vide a letter referenced T.4252/s.46/C.3/1/177 dated February 26, 2015 for the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) to collect Practitioners’ Operating Fees. “Further to the resolutions reached at the stakeholders meeting held on July 3, 2015, the ministry hereby informs the Nigeria Customs Service, all registered freight forwarders, all seaports terminal operators, all airports cargo terminal handlers and the general public that CRFFN is hereby authorised to immediately commence the collection of Practitio-

ners’ Operating Fee.” Nagogo stated that the CRFFN governing council election would be conducted as soon as possible. However, he stated that the election should be funded with part of the proceeds from the fee. The director stressed that the 35 per cent subvention out of the POF to the associations should be kept in an accrual account pending the resolutions of the sharing formula by the five accredited associations. He noted that the five accredited freight forwarders’ associations should meet to agree on the sharing formula of the subvention fees within one month from the date of the meeting of July 3, 2015 and report back to the ministry.”

VESSELS EXPECTED AT LAGOS PILOTAGE DISTRICT S/NO 1 2 3 4 5 6 7 8 9 10

SHIP AFRICAN PIPER GREEN OCEAN HOEGH ANTWERP HOEGH MASAN LONE STAR MSK ELIZABETH FORMOSA FALCON STI WEMBLY SWEET LADY III ELEOUSSA

AGENT APS APS ALRAINE ALRAINE AFRICAN ATLANTIC BLUESEAS BLUESEAS BLUESEAS BLUESTAR BLUESTAR

PORT ENL ENL SFM SFM ENL ACJ SBM SBM GDNL GDNL

TONNAGE /UNIT 10000MT 2000MT 270UNITS 415UNITS 27500MT 31200MT 30000MT 30000MT 23000MT 34000MT

E.T.A 23/05/15 25/05/15 25/05/14 28/05/14 22/05/15 22/05/15 23/05/15 23/05/15 28/05/15 2/06/15

LENGTH 180M 109M 200M 180M 180M 183M 228M 184M 190M 190M

CARGO G/CARGO F/FISH USED VEH USED VEH BEAN SOYA PMS PMS PMS B/SALT B/WHEAT

WEDNESday, JULY 22, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Enugu State Governor, Ifeanyi Ugwuanyi (left), interacting with some royal fathers, during the Nsukka General Assembly, held at Adada House, Nsukka.

L-R: Senior Elder, The Capstone Church, Pastor Tokunbo Johnson; Convener, The Couples Breakfast Meeting, Mrs. Funmi Johnson; Mrs. Araba Akoni and Lead Pastor, First Assembly, Ogba, Pastor Steve Akoni, at the July Couples Breakfast meeting, held at the University of Lagos, Akoka. PHOTO:

Photo | News 39

Anambra State Governor, Willie Obiano (eight from right), with members of NIA Anambra Chapter, during their visit to the governor in Awka. PHOTO: NAN

L-R: Father of triplet, Mr. Augustine; wife of the Speaker, Lagos State House of Assembly, Mrs. Fausat Obasa; mother of the triplet, Mrs. Abbey Augustine; First Lady of Lagos State, Mrs. Bolanle Ambode and a medical director at the Epe General Hospital, Dr. Mustapha Bamidele, during the First Lady’s charity visit to the Hospital at Epe.

SULEIMAN HUSAINI.

A cross-section of the Members of Campaign for Democracy, protesting against Marginalisation of Ndi-Igbo in the new political and socio-economic structuring of the country held in Onitsha, Anambra State. PHOTO: NAN

L-R: First Vice District Governor, (VDG) 404 B1, Lion Waheed Kadiri; District Governor, Lions Club International District 404 B, Lion Idowu Omolola Anobili; Second Vice District Governor, Lion Oyewale Oyewunmi and District Cabinet Secretary, Lion Timothy Soniregun, at a press conference on the forth-coming official presentation of Lion Idowu Omolala as the District Governor held in Lagos. PHOTO: TONY EGUAYE

District Head, Yola, Alhaji Sa’adu Bawuro (right), presenting cash assistance for rehabilitation to one of the recently-released inmates facilitated by Fombina Grassroots Development Association in Yola.

L-R: President/Executive Producer, AFRIMA, Mike Dada; AFRIMA 2014 Best Male Artiste in Southern Africa, Heavy K; South African Afro-Pop artiste, Malaika Tshedi Mbolo; Director, Brand Communication and Sponsorship, AFRIMA, Matlou Tsotetsi and Assistant Communication Manager, ONE Campaign, Yannick Tshimanga, at the AFRIMA Stakeholders’ Conference, at Crowne Plaza, Rosebank, Johannesburg, South Africa.

40 Politics CONTINUED FROM PAGE 17

however, provoked agitation from the factional group of the ruling APC, which is opposed to Saraki’s emergence as President of the Senate. Consequently, the aggrieved senators said that they will ensure that the new sharing arrangement, which gave advantage to the minority party, the PDP, does not stand. As Nigerians were hoping to see the Saraki and the Lawan’s factions resolve the crisis through dialogue, the situation aggravated at the weekend when the anti-Saraki

WEDNESDAY, JUly 22, 2015 NEW TELEGRAPH

Still in search of peace senators reinforced its vow to make the current Senate leadership revisit the appointment of principal officers. The group threatened that it would compel Saraki to revisit the appointment of principal officers which he earlier carried out on June 25, the day the Senate embarked on Sallah recess. According to the spokesman of the antiSaraki senators, Senator Marafa, the ranking

rule of the Senate was violated in the appointment of the presiding officers despite the fact that APC had properly guided the presiding officers by nominating ranking senators for the leadership positions. He lamented that Saraki disregarded the party’s directive by inaugurating fresh senators as principal officers contrary to the provision of the Senate Standing Order, which stipulates

that leadership positions should be given to the ranking members. The anti-Saraki senators said: “They violated rule 3 (2) to appoint both Senators Ali Ndume and Bala Ibn Na’Allah as leader and deputy leader of the Senate respectively and now we hear another alleged absurdity that Senator Godswill Akpabio may emerge Senate Minority Leader.” They further alleged that Akpabio was being

favoured high above his seniors in the chamber contrary to the provisions of order 3 (2). The group observed that Senators Eyinnaya Abaribe, James Manager, George Sekibo, Emmanuel Paulker, Emmanuel Bwacha, Sonni Ogbuoji, Andy Uba, Uche Ekwunife, and Owan Enoh, among others, should not be in chamber and a fresher like Akpabio becomes their leader. Marafa, who is highly

enraged by the turn of events in the jostle for the eighth Senate leadership positions, said: “I swear to God, we will not allow this impunity to stand and a fresh one to be added. By the way won’t somebody ask him, who constituted these caucuses they are talking about? “Who is the chairman or leader of North-West caucus for example? Who is the secretary? If there is, who appointed or elected them, where and using which law? “We all know how the leadership of the political parties emerge. We know the supremacy of the political party (section 65 -2b) of the constitution. Let somebody tell us the supremacy of any caucus and where it is hinged. “May be they want stalemate in the eighth Senate looking at how they are running the place. They better shut it permanently than to reconvene and attempt to run it without respecting the rules. “Oga Senate President, please read order one. They are misleading you. Nigeria no spoil reach this level, God forbid. We will force you on resumption to read order 1 and proceed by its provision. Unless if you want to reduce the Red Chamber into a jungle where everybody will do what he or she likes to do and nobody can call anybody to order! “Sir, you (Senate President) are the custodian and greatest beneficiary of the content of that Red book. If you choose to violate it, we would help you to bring yourself down.” Saraki had on Thursday June 25, before the Senate went on recess, read letters from APC zonal caucuses nominating Ndume (Borno South) as Senate leader, Bala Ibn Na’Allah (Kebbi South) as Deputy Leader and Francis Alimikhena (Edo North) as Deputy Majority Whip. With the lingering crisis in the Senate, and the SUF not willing to retreat in the battle against the leadership, Nigerians are worried that the situation will retard legislative effectiveness and efficiency of the eighth Senate, to the detriment of the masses, who have high expectations from all the arms of government for quick delivery of good governance, in view of the worsening economic hardship in the country.

Politics 41

NEW TELEGRAPH WEDNESDAY, JUly 22, 2015

APC faces supremacy test JOHNCHUKS ONUANYIM examines the lack of potency of party supremacy in the All Progressives Congress (APC)

ith the July 16 letter written to the national executive of the All Progressives Congress (APC) by the Speaker, House of Representatives, Hon. Yakubu Dogara on the appointments of principal officers of the House, party members are now questioning the party supremacy. For many APC faithful, the party supremacy is just a concept as leaders lack the potency to enforce violation. On several occasions, the supremacy of APC has been violated. The party, having recorded victory at the national and state levels in the 2015 general elections had agreed on how to constitute its government especially at the National Assembly without a meaningful result. All that were agreed by the party leadership as regard to the presiding officers of the Eighth National Assembly failed as the preferred candidates of the party could not secure any position. The candidates of the party as presiding officers were Senators Ahmed Lawan and George Akume for Senate President and Deputy Senate President and Hon. Femi Gbajabiamila and Hon. Mohammed Monguno for Speaker and Deputy Speaker. None of the four lawmakers emerged in the election of the presiding officers. These lawmakers had won the mock elections conducted by the leadership of the party. But at the election proper, which held on the floor of both chambers on June 9, Senator Bukola Saraki of APC and Senator Ike Ekweremadu of the Peoples Democratic Party (PDP) emerged as Senate President and Deputy Senate President respectively. Also, Dogara and Hon. Yusuf Lasun emerged as Speaker and Deputy Speaker respectively. This situation was said to be an embarrassment to the party as alluded to by the National Chairman, Chief John Odigie-Oyegun. The party made attempts to assert its supremacy and correct the anomaly by stating that those that went against the wishes of the party would be sanctioned. However, the party leadership could not achieved this as they were divided on what constitutes violation of party supremacy. While some believed that the emergence of Saraki and Dogara as Senate President and Speaker respectively was an affront to the party and its leadership, others think otherwise. To the latter group, there was no violation of party supremacy. The division in opinion by party leaders led to reversal of decision and recognition of the National Assembly leadership, which resulted in accusation of

Oyegun

compromise against some party leaders. For instance, the national chairman of the party, Oyegun, was accused of compromise for recognising the leadership of the National Assembly. Oyegun, who stated that there was nothing the party could do against the emergence of Saraki and Dogara, was alleged to have taken bribe from some members of the National Assembly for him to give recognition to their leadership against the wishes of some party leaders. Some members including the former interim national chairman of the party, Chief Bisi Akande, called for his removal. Akande subtly did this as he suggested for the dissolution of the party organs. As this was raging, Oyegun was pushed by some state governors to take another decision on behalf of the party. Governors Adams Oshiomhole (Edo), Tanko Al-Makura (Nasarawa), Abiola Ajimobi (Oyo), Nasir el-Rufai (Kaduna), Rauf Aregbesola (Osun), Abubakar Sani Bello (Niger), Atiku Bagudu (Kebbi) and Abubakar Badaru (Jigawa) approached Oyegun at the National Secretariat of the party and asked him to write the now controversial letter to the leadership of the National Assembly on their preferred zoning of the principal offices. In the letter, the principal offices for the Senate were zoned as follows: Senator Ahmed Lawan (Senate Leader), George Akume (Deputy Senate Leader) and others. Also for the House, the zoning arrangement as contained in the letter to the Speaker proposed Gbajabiamila (South-West) as House Leader, Ado Doguwa (North-West) as Deputy House Leader, Pally Iriase (South-South) as Chief Whip and Mohammed Tahir Mongonu (North-East) as Deputy Chief Whip. But these were not adhered to by the leadership of both chambers of the National Assembly. While Saraki resorted to caucus, Dogara allocated offices to zones, hinging his decision on fairness. The Speaker excluded South-West and North-East from the sharing of the principal offices to technically edge out Gbajabiamila and Monguno. In the letter, Dogara said: “We feel strongly that the issue of fed-

Tinubu

We have utmost respect for the chairman, but that letter did not pass through all the party’s relevant legal organs

Dogara

eral character in the election or appointment of principal officers of the House is a cardinal legal, moral and constitutional principle that should be respected by our party. It is however obvious from the letter under reference that this principle was not taken into consideration….” A member of the National Working Committee (NWC) of the party faulted the letter written to the presiding officers of the National Assembly. According to him, the issue of principal officers were exclusive preserve of the caucuses of the Senate and the House. He explained that the NWC was tinkering with how to go about compensating those that lost the elections of the presiding offices before the governors compelled the national chairman to write a letter zoning the principal offices. The NWC member submitted that the presiding officers have not done anything against the supremacy of the party either by contesting the presiding offices against the directives of the party or refusing to honour the letter of the party directing them on how to select principal officers. He explained that the inability of Oyegun to tell those projecting personal interest as party interest and emphasising supremacy of the party has made him to be at the receiving end. “Our national chairman should have maintained his stand and resist them as he did during the campaign for the presidential ticket of the party,” he said. At the National Executive Committee (NEC) meeting of the party held on July 3, President Buhari only emphasised the need for members to respect party decision and recognise party supremacy. The meeting also brought a widening in the party as some national leaders of the party were conspicuously absent. Such leaders included Vice-President Yemi Osinbajo, Akande and Senator Bola Tinubu. It was believed that their absence at the NEC meeting was a protest against the leadership of the national executive of the party. Given the ambiguity of Buhari’s position on party supremacy, the two groups in the House struggling for the principal offices have interpreted the supremacy differently. The Dogara group maintained

that they made concession in obedience to the party. Its spokesman, Abdulmumini Jibrin said: “Three things we agreed. One, we maintained our position that we do not recognise the letter written by the party and I give you reasons. We have utmost respect for the chairman but that letter did not pass through all the party’s relevant legal organs. “It was neither approved by the NWC nor the National Executive Committee (NEC). The party caucus was not also consulted. It was a product of one or two governors and of course the national chairman.” But the other group maintained that the party’s position on the sharing of principal office positions must be sustained. A statement issued by Alhaji Rufai Chachangi on behalf of the group noted: “We the 174 APC loyalists group of the House are aware that there was a private discussion between President Buhari and Governor Tambuwal... To the best of our knowledge, no counteroffer has been made to the APC loyalists group after her first meeting with Tambuwal peace committee wherein the APC loyalists clearly stated that in line with party supremacy resolution reached at last APC NEC meeting, the position of the party on Gbajabiamila as the House Leader is non-negotiable.” The lack of political will by the national leadership of APC to compel lawmakers at the National Assembly to abide by party directives was fundamentally anchored on the fact that the directives issued by the party were not taken from its constitution, but from few individuals trying to actualise their personal interests. This has brought about integrity question on the national executive of the party and some of the NWC members of the party feel strongly that the national chairman was responsible for this integrity question as he allowed himself to be used by these interest groups. It is left to be seen what the APC will do with the decision of Dogara to ignore the directive of the party in the choice of principal offices of the House. The Senate had earlier ignored the party without sanction. As it is, party supremacy lacks potency.

42 Politics C O N T I N U E D F R O M PA G E 1 3

movement had been clamouring for a reduction in the cost of governance, but it should not be by cutting of salaries. According to him, the bulk of what was driving governance cost was outside the prescribed salary. “It is clear that a pay cut that is neither backed by law nor initiated by the RMAFC, is bound to bungle up accounts. If they do not accept it, how do those in charge of salary allocation handle the consequent balance?” he asked. The Labour Party (LP) described the decision as mere theatrics and playing to the gallery, adding that announcements such as that is an assault to the sensibilities and intellect of Nigerians. “If they expect to be cheered for taking a pay cut, they will be disappointed. Nigerians have matured and have grown beyond cheerleading leaders for less than stellar performances.” LP National Secretary, Kayode Ajulo said. PDP: Pay cut not enough The Peoples Democratic Party (PDP), which had been in power since 1999 until it was defeated during the last general elections, on its part, said the salary slash and rejection of official cars by the president and his vice are not enough to sway the expectations of Nigerians from the government. The party through its National Publicity Secretary, Olisa Metuh, added that President Buhari must strive to fulfil his electioneering promises as salary is a mere drop in the ocean of personal allowances and privileges that come to the president. “PDP rejects the dramatisation of salary cut and rejection of official cars, all to gain cheap popularity and create an impression that the government is on course, when in the actual fact, the new administration has not been able to locate a bearing since its inauguration in May. “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 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,” Metuh said. Cut allowances not salaries Those who argued that allowances rather than salaries should be slashed, premised their argument on the fact that the take home pay of elected politicians, even if forfeited, would be too meagre to address the current financial problems confronting the country. Ebonyi State governor, Dave Umahi, who holds this view, said he would not slash his salary because such measure was not the solution required to address the current economic doldrums being experienced in the country. “The major issue is to be honest to the people, it’s to deploy the resources God has given the people, don’t cheat them, don’t steal their money. What we take as political leaders, what is due to us is really very meagre. “I earn about N600, 000 a month; so if I cut it down to 50 per cent, that’s N300, 000. That is not the kind of money the society is looking for. They are asking whatever is due to us, give it to us and I believe in that,” Umahi said. Former Oyo State governor, Senator Rashidi Ladoja, who described the decision as mere window dressing, said there are so many unknown bogus allowances not captured in the “so-called salary cuts.” He said: “I see some of the steps taken by our politicians as window dressing. If you say you cut the salaries of the Nation-

WEDNESDAY, JUly 22, 2015 NEW TELEGRAPH

Twists and turns over pay cut N621, 067, 913 on international travel. For food stuff/catering supplies, a provision of N142, 472, 537 was made for the office of the president. The budget proposal included a provision of N131, 911, 315 for fuel and lubricants for the State House. The breakdown showed that plant/generator fuel will consume N35, 344, 855; motor vehicle fuel will consume N85, 843, 802 while cooking gas/fuel will consume N10, 102, 858.

el-Rufai

Umahi

al Assembly members, who knows how much they are earning? We only know what is written in the revenue allocation commission but we don’t know what their allowances are.

annually. A further breakdown down of allowances, shows the president’s severance gratuity is N10, 544, 115, that is 300 per cent of basic; he is entitled to a leave allowance of N351, 470. 50, (10 per cent of basic salary) and an optional motor vehicle loan of N14, 058, 820, at 400 per cent to be repaid before the expiration of the president’s tenure. In addition to allowances like motor vehicle, feeding and maintenance, special assistant, personal assistant, domestic staff, entertainment utility, security, newspaper and periodicals; Osinbajo will also get Hardship, Consistency, Severance gratuity and leave allowance set at N1, 515, 786.25; N7, 578, 931.25; N9, 094, 717.50 and N303, 157.25 respectively. He will also receive a motor vehicle loan at 400 per cent of his basic salary which is N12, 126, 290; to be repaid at the expiration of his tenure.

President, Vice President’s salaries/ allowances According to information on RMFAC’s website, Buhari and Osinbajo are to earn annual basic salaries of N3, 514, 705 and N3, 031, 572.50 respectively. The president is also entitled to various regular allowances apart from his basic salary, such as; Hardship, 50 per cent of the basic salary – N1, 757, 350.50; consistency – 250 per cent, N8, 786, 762.50. Other regular allowances like motor vehicle fuelling and maintenance, special assistant, personal assistant, domestic staff, entertainment, utilities, security, newspapers and periodicals are to be provided by the government – not paid for. Allowances like accommodation, furniture, and duty tour allowance (per night), estacode (per night) and medical allowances are also to be provided as requested. They are paid periodically, some monthly, a few once in four years. Duty Tour Allowance and estacode depend on travels. After adding up all the allowances, the president is supposed to earn N1, 171,568.33 monthly and N14, 058, 820.00 annually, while that of the vice president is N1, 010, 524.17 monthly and N12, 126,290

Bogus overhead Besides the salaries and allowances of the president and vice president, the Presidency, still enjoys a humongous budget. It would be recalled that the Goodluck Jonathan-led administration had made a provision of N348, 342, 741 as its proposal for honorarium and sitting allowance for the State House in the 2015 budget. The breakdown of the expenditure on travel and transport showed that the president will be spending N1, 306, 834, 350 on local travels and transport and the sum of

Position of the law RMAFC is statutorily empowered by Section 32 (d) of Part 1 of the Third Schedule of the Constitution to determine the remuneration appropriate for political office holders. They include the president, vice president, governors, deputy governors, ministers, commissioners, special advisers and legislators. The last time RMAFC reviewed the salary structure was in 2007, following the salary structure review and associated allowances for the top federal public office holders earlier carried out by the National Salaries and Wages Commission, which took effect on May 1, 2000, during the Olusegun Obasanjo administration. Obasanjo’s basic annual salary as president was N2,586,000 per annum, while that of his vice, Atiku Abubakar was N1,938,000, the same as that of the then Chief Justice of Nigeria and the Senate President. Against this backdrop, President Buhari cannot not force his ministers and aides to slash their salaries like he and his vice had done. The Presidency consented to this position, when it recently clarified that Buhari will not impose the decision on the yet to be appointed cabinet members. “The decision taken by the President and Vice President was a voluntary thing. The decision is not a government policy, it is personal. You will observe that the president did not say they should issue a circular. “If he wants it to become a government policy, he will issue the directive through a proper channel. He won’t make it compulsory, that is the position for now,” presidential spokesman, Shehu said. No doubt the president and his vice have taken the first step in reducing cost of governance by cutting their salaries by 50 per cent in line with current realities in the country, but such effort will make little impact in freeing needed funds for capital projects that will impact on the lives of the masses unless the cut is extended to their allowances and that of other public office holders, which constitute substantial part of their earnings.

Public show of probity C O N T I N U E D F R O M PA G E 1 3

lion a year. So savings from Buhari and his deputy might assist the country to pay three GL 17 officers in the federal service. These, by all calculations, are huge savings for the cash-strapped nation. Kaduna State governor, Mallam Nasir el-Rufai, who at a biennial conference of the Nigeria Guild of Editors (NGE) in Edo State some years ago gave thought provoking lecture on how to cut cost of governance, joined the bandwagon.

He has cut his salary and ernor of Bauchi State, Isa that of his newly appointed Yuguda, was said to have had over 2, 000 political commissioners. He aides who were paid has also reduced the salaries from the number of minisstate government tries in Kaduna coffers. Even the State from 19 to Imo State gover13, but he may not have been nor who forfeited able to reduce N4 billion of his the number of annual security “personal asvote for free edusistants, special cation of citizens assistants and of the state, was also among state special advisers,” Okorocha governors in that to his commissioners not to talk of their era that had high numperks of office. ber of political aides. The immediate past govAlthough President Buhari

is yet to constitute his cabinet, he has already appointed three media aides, two for himself and one for the vice. The legislature is not outdone with these appointments. Each of the 469 members of the National Assembly has between two and five legislative aides. The principal officers have full complement of cabinet like the executive. Against this backdrop, the consensus is that what Nigeria needs is cut in cost of governance and not cut of salary. The United States of America has 15 cabinet members, almost the same with Britain, and they spend less than 10 per cent of their annual budget on general administration.

Politics 43

NEW TELEGRAPH WEDNESDAY, JUly 22, 2015

Much ado about Ugwuanyi’s cabinet Uwakwe Abugu

riting in a seeming deliberately jaundiced political analysis on Tuesday, July 14, 2015 headlined “Another look at Ugwuanyi’s cabinet,” in a national daily, a writer stunned rather than excite discerning readers and keen observers of the political pulsation of Enugu State. In his review, which is his first analytical excursion into the emergence of the 24-man nominee for the post of commissioners as forwarded to the Enugu State House of Assembly for its consideration, the writer tended to dismiss the list as an assemblage of what he called “recycled politicians.” As if he was waiting in the wings like a vicious predator lurking in a dark corner to unleash a mayhem, he jumped into an indefensible conclusion in his personal assessment of the list of commissioners. According to him, “no parable captures the make-up of Ugwuanyi’s emerging cabinet dominated by recycled politicians like the Biblical parable of “Old Wine in New Wine Skin”. For purposes of evidential presentation of our position as a government in total defence of the very acceptable choice made by Rt. Hon. Ifeanyi Ugwuanyi, Governor, Enugu State, it would be pertinent to reproduce here, the list of his cabinet. They include, Engr. Patrick Ezebuiro Ikpenwa, Dr. Udeuhele Godwin Ikpechukwu, Mabeke Obinna Benjamin, Engr. Greg Nnaji, Dr. Sanmuel Ngwu, Barr. Chika Smart Ogbe, Mr. Ndukwe Charles Chuka, Barr. Chidi Aroh, Ambassador Fidel Ayogu, Hon. Chijioke Edeoga and Rita Chinelo Mbah. Others are Hon. Princess Peace Nnaji, Barr. Sam Ogbu Nwobodo, Barr. Emeka Okeke, Chief Miletus Ezugworie Eze, Prof. Uchenna Eze, Engr. Charles Ogbonna Asogwa, Ozo Gab Azubuike Onuzuilike, Mr. Solomon Izuchukwu Onah, Mr. Vitus Okechi, Engr. Mike C. Eneh, Barr. Charles Egumgbe, Barr. Fide Ani and Mrs. Eucharia Uche Offor. Now, amongst these, apart from Ayogu who has been on the national and state political scene since 1999, Hon. Peace Nnaji who is an immediate past member of the House of Representatives and Hon. Chijioke Edoga, a journalist turned politician who was presidential aide to former President Goodluck Jonathan, who else on the list has remained on the political scene for long as to earn the list a recycle of politicians? Is it the fiery legal practitioner, Chief Mellitus Ezugwuorie Eze, who excites judges, magistrates and lawyers alike each time he takes turn to address a court session or is it the deputy bursar at the Enugu State University of Science and Technology (ESUT), Mrs. Eucharia Uche Offor, who has been spotted by the governor that could be classified as recycled politicians? Come to think of the engraved malice inherent in the thinking and motivation of this writer under focus. Whereas he gave the verdict that the governor’s list is dominated by politicians who have been recycled thereby

Ugwuanyi

Ayogu

suggesting that they are tired or about to be tired for the job of being in the state cabinet, Governor Ugwuanyi known for his very meticulous mien, has chosen a cabinet whose members are made up of over 60 per cent young men and women most of whom have not come close to holding such political positions before this development that would now throw them up as new political leaders in the state. And this is deliberate. The governor is one of the few leaders in the country who believe in building a new Nigeria of the future by empowering the young and upcoming Nigerians into political leadership positions. Even with Ayogu, Edoga, Nnaji and legal practitioner, Egumgbe, it would be a fatal flaw in analytical reasoning to dismiss this star-studded list of commissioner-nominees as that of recycled politicians. Far from it. The writer apparently has been in search of loopholes that would enable him to do some mischief. Yet, it is pertinent to ask, “what is wrong in having a few tried hands join the new cabinet that would also feature those who have never held any such political positions before

The governor is one of the few leaders in the country who believe in building a new Nigeria of the future

Nnaji

in their lifetime?” Imagine the likes of the young men like Vitalis Okechi, Mr. Solomon Izu Onah, and a young woman, Rita Mba, who served in the administration of former governor, Sullivan Chime as Commissioner for Special Duties, among others. These crop of young professionals are also in the list. Yet, somebody would want to mischievously say the list represents a bunch of recycled politicians. Or has it become a crime for experience to be taken into account in engaging some members of a governor’s new cabinet. Then, why did Nigerians massively vote in President Muhammadu Buhari during the last general elections? It is a well-beaten path of journalistic pranks-playing for the writer to quote an imagery interviewee who allegedly told him that it was disappointing for Governor Ugwuanyi to nominate candidates who he classified as not being as good or qualitative as those that served under his predecessor. One may ask, how would someone have assessed all the nominees just within some 24 hours and found their choice as a big flaw? If this assessment is borne

out of a genuine desire or went through the mills of a diligent scrutiny, it would have taken out an excursion into the personal details of those who made the list and tell the public how each of them cannot hold the office as cabinet member in Enugu State Executive Council. We are convinced as a government that if anybody actually spoke to the reporter condemning the list in its entirety as has been the case in this report, such a complainant must fall within the bunch of desperados who have futilely employed all means to get nominated into the coming cabinet. In any case, the administration of Governor Ifeanyi Ugwuanyi would appeal to all the people of the state not to countenance this kind of publication designed deliberately to distract the people and the government. We have pledged to remain focused and march forward to surmount odds strewn on the path of progress. At the end, our people would be fully rewarded with good governance which we have pledged to bequeath to posterity. •Abugu is the Chief Press Secretary to Governor Ugwuanyi

Jonathan’s men out in the cold C O N T I N U E D F R O M PA G E 1 5

General, Salihu Ibrahim as Chairman. The National Youth Service Corps has Gordon Bozimo as Chairman while Nigerian Television Authority has Patrick Ogbu as its Chairman. The Raw Materials Research and Development Council (RMRDC) was chaired by Senator Walid Jibrin, the Secretary of the PDP BoT, while the National Lottery Regulation Commission’s board was headed by Damian Dodo, a Senior Advocate of Nigeria. The Maritime Academy of Nigeria, Oron, has Mike Abiotomere as its Chairman.

The Board of the National Educational Research and Development Council had Stephen Dike as Chairman while the National Teacher’s Institute was headed by former Jigawa Governor, Ali Sa’ad Birnin Kudu, as head. The National Veterinary Research Institute, Vom, had Isaac Edoja as its Chairman and the National Agric Extension and Research Liaison had Moses Ngbale as Chairman. Charles Ogwu was appointed the Chairman of the Agricultural Research and Training Institute while the Institute for Agricultural Research, Samaru – Zaria had Kashim Mukhtar Alkali as Chairman. The Federal Insti-

tute for Industrial Research, Oshodi-Lagos has Alex Obi as Chairman and Advertising Practitioners Council of Nigeria has Ngozi Enyioma as its Chairman. The Nigerian College of Aviation Technology, Zaria, has Mohammed Sadiq as Chairman. Former Minister of Transport, Chief Ebenezer Babatope, was also affected. He chaired the Board of Yabatech. Now that vacancies have been creates in all these organisations, President Buhari is likely to soon make new appointments in this regard. Unlike the existing tradition where membership of boards had been a system for settling

political jobbers, Nigerians expect that President Buhari would appoint only men with proven integrity to head these agencies and institutions at that level. Since the role of a board is to monitor a corporation’s managers while acting as an advocate for stockholders, members of a board ordinarily should work towards ensuring efficiency in the policy decisions of the organisations they head and not seeing them as avenues for personal aggrandisement. This is what the present administration should be looking out for if it must succeed in the fight against corruption to grow the economy.

Business | Money Line

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

CBN adjusts forex peg to N197/$

STABLE

Rate drops to N240/$

• Naira stabilises on parallel market

Tony Chukwunyem

• MPC would hold interest rates till Sept

he Central Bank of Nigeria (CBN) has raised the naira peg to N197 against the dollar from the N196.95 it adjusted the local currency to a fortnight ago. But after about three weeks of consecutive decline on the parallel market, the naira appears to have stabilised against the United States dollar, as it traded yesterday at N240 to the US currency compared with N241 per dollar last Thursday. Yesterday’s upward adjustment of the naira exchange rate is the fifth time that the apex bank has adjusted the peg since it was

introduced last February. The naira had been on a free-fall on the parallel market since the CBN stopped the sales of foreign exchange to importers of rice, private jets, textiles, tomato paste, poultry products and 36 other items on June 23. The naira had declined to N245 against the green back as at last Wednesday, fuelling speculation that it could depreciate to N250 by the end of the month. Traders, however, attribute the local currency’s current stability to expectations that the CBN could announce further mea-

sures on the foreign exchange market that would bolster the naira ahead of its Monetary Policy Committee (MPC) meeting scheduled for Thursday and Friday this week. A Lagos-based Bureaux De Change (BDC) operator told the New Telegraph that demand for forex reduced due to speculation that the CBN would intervene to strengthen the naira before the MPC meeting. He said, “There was not much demand for dollars today so, the naira traded at about N240 to a US dollar. The reason is

that people are afraid that the CBN would announce new forex policy before the MPC meeting. So, nobody wants to take a risk until after the meeting.” Similarly, Reuters quoted a dealer as saying; “Demand for the dollar slowed down a bit today and the naira recovered due to speculations the central bank could intervene in the market this week ahead of its monetary policy meeting.” Meanwhile, Reuters also reported that a poll it conducted showed that the MPC would hold interest rates for now and wait un-

NIBSS, IBM, Samsung boost innovation

en winners have emerged in the 2015 eNNovation Challenge organised by the Nigeria Interbank Settlement System (NIBSS) in collaboration with Samsung and IBM. The prizes according to a statement, were presented to the finalists at a grand finale in Lagos. NIBSS Chief Executive

Officer, Ade Shonubi, said the contest seeks to promote the spirit of innovation, and showcase the depth and variety of talent available for cognitive cultivation in the national economy. He explained that the best 30 entries were shortlisted then whittled down to 10, adding that competition succeeded in harvest-

ing innovative ideas that tackle and resolve some of the salient obstacles against electronic payments systems, whilst deepening and fomenting the culture of electroniccum-digital payment channels in Africa’s largest economy. The eNNovation Challenge is an online crowdsourcing contest, open to

members of the public. Shonubi said over 1,800 entries were received at the initial stage of the competition earlier this year. The screening and judging panel comprised executives from the Central Bank of Nigeria (CBN), NIBSS, eTransact, Microsoft, Paga, Konga, Samsung, IBM, TEP, Dudu Mobile and CitiServe.

Economic Indicators M2* CPS* INF MPR 91-day NTB Bonny Light Ext Res**

As at Mar, 2015 Mar, 2015 June, 2015 4/6/2015 Mar 2015 21/7/2015 13/7/2015

N19,142,526.05m N18,579,219.49m 9.2 13 10.77 US$56.51 US$29,955,854,769

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 12.1493 18-JUL-2034

FGN Bonds

TTM

Price 98.35 100.39 103.29 101.82 106.01 96.54 68.00 83.09

1.07 1.77 3.94 4.57 6.52 8.65 15.01 18.99

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 9.8750 14.4839 16.0501 16.7874

Bid Yield 14.75 14.80 14.86 14.97 14.91 14.91 15.57 14.84

Change (%) 0.42 ▲ -0.18 ▼ -0.04 ▼ -0.12 ▼

Change (%) -0.12 ▼ -0.09 ▼ -0.27 ▼ -0.06 ▼ -0.24▼ -0.25 ▼ 0.00 ↔ -0.32 ▼

Price 98.50 100.54 103.59 102.12 106.31 96.84 68.30 83.39

Tenor (Months)

Offer Yield 14.59 14.70 14.76 14.87 14.84 14.85 15.50 14.78

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 11.9853 12.8071 13.8613 14.2293 14.4564 14.4676

Spot($/N)

Offer 197.68

Change (%) -0.35 ▼ 0.12 ▲ 0.10 ▲ -0.20 ▼ -0.18 ▼ -0.30 ▼

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 13.20 13.62 -0.14 ▼ Open-Buy-Back (OBB) 12.08 15-Oct-15 13.45 13.89 -0.14 ▼ 12.48 13.31 -0.99 ▼ Overnight (O/N) 12.75 21-Jan-16 12.73 13.60 -0.99 ▼ 12.39 13.88 -0.16 ▼ 02-Jun-16 12.64 14.20 -0.16 ▼ Bid 197.58

Change (%) -0.12▼ -0.09 ▼ -0.27 ▼ -0.06 ▼ -0.24 ▼ -0.25 ▼ 0.00 ↔ -0.32▼

Change (%) 0.07 ▲

NIFEX

Spot($/N)

Bid 198.9875

Offer 199.0875

Change (%) 4.00 ▲ 4.00 ▲

Change (%) 0.02 ▲

CBN Clearing Rates of July 21, 2015 Spot($/N)

196.00

197.00

0.03 ▲ Source: FMDQ

til September to raise them. This is also in line with a prediction by Financial Times. According to the publication, “On Friday the Central Bank of Nigeria is expected to hold rates steady at 13 per cent. Its cutting skills must be getting a bit rusty, with no rates action since November 2014, but concerns over the weak currency mean that if anything, it’s more likely to do the opposite. The naira is under pressure despite a ban on foreign exchange purchases for imports of a range of goods including toothpicks. Lower oil prices have hurt Nigeria’s trade

balance, and the weakened naira has eaten into the central bank’s reserves.” Last week, respected Economist and Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, had similarly forecast retention of rates by the MPC. He had stated, “We are already at the upper limit of the tightening cycle, and the more probable outcome at the MPC meeting would be for the CBN to maintain the status quo and use more administrative measures in its quest to protect the naira in the forex markets.”

Anambra backs e-govt summit Kunle Azeez

nambra State Government has thrown its weight behind an e-government summit being organised by the e-payment community in Nigeria holding in Abuja next week. The event is being organised by the E-Payment Providers Association of Nigeria (E-PPAN), in collaboration with the Central Bank of Nigeria (CBN) and the Financial Systems Strategy (FSS) 2020. A statement made available to New Telegraph yesterday, said the event, which would be chaired by the Governor of CBN, Mr. Godwin Emefiele, would be officially declared opened by Anambra State Governor, Dr. Willie Obiano. The two-day summit to be held at the Shehu Musa Yar Adua Centre, Abuja, will have the theme: “Egovernment: Key to Sus-

tainable Development.’ The summit will play host to a lot of dignitaries including Permanent Secretary, Federal Ministry of Communication Technology, Dr. Tunji Olaopa. Olaopa will be speaking on the Overview of the E-Government Master Plan, while the Permanent Secretary, Political Affairs, Office of the Secretary to the Government of the Federation, Mrs. Ibukun Odusote, will enlighten the delegates on ‘Exploiting ICT for Efficient Government and Service Delivery to Citizens.’ According to the Chief Executive Officer and Executive Secretay, E-PPAN, Mrs. Onajite Regha, the summit will focus on seven key developmental areas including; the payment system; agriculture; financial inclusion; insurance; pension; mortgage, and micro small and medium enterprises (MSMEs).

FCMB reviews Inter-Bank Transfers charges

irst City Monument Bank (FCMB) has announced a review of its Instant Interbank Transfers charges, a move, industry analysts believe, is a response to the tough operating environment. In emails sent to its customers yesterday, the bank said that henceforth the interbank transfer charge for amounts between N1 and N499,999 has been increased from N70 to 100 and with Value Added Tax (VAT) included, the total charge is now N105. Although the interbank transfer charge charges for amounts in the region of N500,000 – N9,999,999 and N10million and above were retained at N100 and N500 respectively, the inclusion

of VAT now sees the total interbank transfer charge for the N500,000 – N9,999,999 category at N105 and N525 for N10million and above. It would be recalled that in 2013 the Central Bank of Nigeria (CBN) announced a review of bank charges. The apex bank stated that banks should not charge COT on returned outward clearing cheques, reversal of transactions and all bank induced debits. It also announced a gradual elimination of Commission on Turnover (COT) charges. The regulator said then that COT will be negotiable up to a maximum of N3 per mille in 2013; N2 per mille in 2014; N1 per mille in 2015 and it would be free from 2016.

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

FMDQ Daily Quotations List

21-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

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 20.00 100.00 300.00 351.30 233.90 261.73 605.31 599.99 75.00 150.00 200.00 591.57 340.50

TOTAL OUTSTANDING VALUE

4,890.82

TOTAL MARKET CAPITALISATION

4,462.11

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

1.07 1.77 2.02 2.11 2.86 3.94 4.26 4.57 6.52 8.65 13.36 13.84 14.33 15.01 18.99

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

14.75 14.80 14.85 14.85 14.86 14.86 14.96 14.97 14.91 14.91 16.08 16.23 16.40 15.57 14.84

14.59 14.70 14.75 14.76 14.79 14.76 14.84 14.87 14.84 14.85 16.02 16.17 16.32 15.50 14.78

98.35 100.39 91.55 90.31 90.55 103.29 75.55 101.82 106.01 96.54 94.07 79.54 56.82 68.00 83.09

98.50 100.54 91.70 90.46 90.70 103.59 75.85 102.12 106.31 96.84 94.37 79.84 57.12 68.30 83.39

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

0.95 1.38 1.75 1.96

2.94 1.00 2.66 3.13

17.29 15.73 17.50 17.97

99.95 100.27 102.66 98.30

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

299.79

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.11

4.44

17.38

99.39

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.19

3.23

16.87

99.21

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.69

4.46

18.38

97.26

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.70

3.48

17.41

98.76

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.75

1.00

15.84

91.34

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.23

1.00

15.62

97.98

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.45

1.79

16.64

94.84

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

1.83

1.00

15.84

97.21

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.84

1.00

15.84

97.18

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

2.02

1.00

15.85

97.77

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

2.03

4.78

19.63

91.23

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.01

1.00

15.85

99.41

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

2.45 4.34 2.51

2.02 1.00 1.00

16.87 15.98 15.85

97.36 95.44 97.83

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

3.05

1.82

16.69

95.66

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.35

1.00

15.99

91.21

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.45

1.00

15.99

96.47

‡ /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

3.29

1.00

15.87

96.71

06-Jan-14

15.00

4.31

06-Jan-21

3.32

1.00

15.87

97.89

99.72

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

440.27 417.93

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.07

1.00

13.63

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.39

1.00

14.83

98.94

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.46

2.63

16.30

98.94

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.19

1.00

15.58

97.23

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.26

1.34

15.98

98.02

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.20

1.00

15.85

94.83

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.43

1.88

16.65

102.33

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.47

1.00

15.80

100.19

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.64

1.00

15.83

102.84

1.64

1.00

15.83

100.17

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.20

3.00

17.87

90.81

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.74

2.29

17.13

97.98

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

1.82

6.11

20.95

95.97

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.45

2.16

17.01

98.00

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.32

2.76

17.75

91.53

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.33

1.80

16.74

90.42

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.44

1.00

15.94

101.98

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

9.20

1.00

16.04

101.10

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.20

1.00

16.04

86.75

TOTAL OUTSTANDING VALUE

177.87

TOTAL MARKET CAPITALISATION

168.83

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.56

1.00

15.85

88.45

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.78

1.00

15.89

87.39

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.93

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

6.12

5.90

102.89

103.95

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.07

4.73

100.15

101.08

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.44

6.28

99.62

100.60

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

1,513.29

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.90

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

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

11.63

10.61

88.91

91.16

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.75

7.29

94.99

96.29

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.81

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

10.17

9.68

95.57

97.07

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

9.72 10.75 10.11

9.72 10.39 10.11

93.70 93.81 90.00

93.70 95.32 90.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.68

10.26

90.88

92.63

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,455.84

**Treasury Bills^ DTM 9 16 23 37 44 51 65 72

FIXINGS Maturity 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15

Bid Discount (%) 11.58 12.08 12.07 11.28 12.28 12.39 12.52 13.25

Offer Discount (%) 11.33 11.83 11.82 11.03 12.03 12.14 12.27 13.00

Bid Yield (%) 11.61 12.14 12.17 11.41 12.46 12.60 12.80 13.60

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 9.8750 14.4839 16.0501 16.7874

Rate (%)

OBB

12.08

O/N

12.75

Tenor Call 1M

REPO

Rate (%) 10.00 11.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

197.58 199.39 199.79 200.78 202.73 205.22

197.68 199.91 200.33 201.37 203.49 206.23

^10.00 23-JUL-2030 ^12.1493 18-JUL-2034

23-Jul-10 18-Jul-14

10.00 12.1493

591.57 340.50

TOTAL OUTSTANDING VALUE

4,890.82

TOTAL MARKET CAPITALISATION

4,462.11

Rating/Agency

Description

Issuer

23-Jul-30 18-Jul-34

15.01 18.99

15.57 14.84

15.50 14.78

68.00 83.09

68.30 83.39

# 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

0.95 1.38 1.75 1.96

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

***LCRM

TOTAL OUTSTANDING VALUE

Stock market gains N98bn 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 the longest since Septemby 10.00 LAGOS 19-APR-2017 of equities appreciated

10.00 57.00 Insurance sub-sector 21.24 also of13.75 the financial servic14.00 25.00 es sector, activi14.00 boosted by 30.81 ties in14.00 the shares of9.00Link14.50 12.40 age Insurance Plc followed 14.00 9.21 with a15.50 turnover of 40.2 27.00 mil15.50 15.09 lion shares valued at N23.6 14.50 80.00 million in 124 deals.24.74 14.75 14.75 10.46 The number of gainers 87.50 at the13.50 close of trading ses15.00 5.00 sion was declin14.50 28, while 4.30 15.00 ers closed at 20. 4.31 440.27 Oando Petroleum Plc 417.93 led the gainers’ table with 10.24 per cent to close at 10.00 2.50 N13.89 per share,9.38 while 12.00 Transcorp Plc followed 14.00 0.22 15.00 per with 13.00 a gain of 9.91 14.25 5.53 cent each to close at N2.33 13.00 20.00 per share. FCMB Plc 18.00 0.56 add16.00 5.40 ed 5.26 per cent to close at 18.00 2.54 N3.0016.00 per share. 0.70

POSITVE 30-Jun-10 13.75 BAYELSA 30-JUN-2017 ‡ /Agusto *BAYELSA ber 2011, as investors an- N98 billion or 0.92 per cent 30-Dec-10 14.00 EDO 31-DEC-2017 ‡ /Agusto Nigerian Stocks EDO devaluation 30-Sep-11 DELTA 30-SEP-2018 to close at N10.725 trillion ‡ /Agusto; A+/GCR *DELTA ticipating a 14.00 04-Oct-11 NIGER II 4-OCT-2018 Bb-/Agusto; A-/GCR NIGER of the naira14.00 continue to from N10.627 trillion. extend gains on blue*EKITI 09-Dec-11 ‡ /Agusto; A-/GCR† 14.50 EKITI 09-DEC-2018 shy away from the counMeanwhile, a turnover 12-Dec-13 Bb-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 chips try’s assets. 15.50 ONDO 14-FEB-2019 of 1.056 billion shares 14-Feb-12 ‡ /Agusto; A-/GCR *ONDO LAGOS

02-Oct-12 15.50 GOMBE 02-OCT-2019worth N15.7 billion in The market, which 14.50 LAGOS 22-NOV-2019 22-Nov-12 closed last Friday and 3,471 deals were recorded 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 10-Oct-13 BBB-/Agusto *OSUN 14.75Eid-el-Fitr OSUN II 10-OCT-2020 in the day’s trading. Stories by Chris Ugwu Monday for the Aa-/Agusto; ‡ /GCR LAGOS 27-NOV-2020 celebrations,13.50 hasLAGOS dropped The banking 27-Nov-13 sub31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 7.2 per cent this quarter, the sector of the financial 31-Dec-13 ‡ /Agustohe key market *EKITI 14.50 EKITI II 31-DEC-2020 06-Jan-14 A-/GCR 15.00 NASARAWA 06-JAN-2021 the p e r f o r m a n*NASARAWA c e worst-performance global- services sector was TOTAL OUTSTANDING VALUE measures, the ly outside of China, accord- most active (measured TOTAL MARKET CAPITALISATION NSE All Share ing to a Bloomberg ranking by turnover volume) with Corporate Index andBonds market capi- of 93 primary indexes. 901.9 million shares worth 10.00 UPDC 17-AUG-2015 17-Aug-10 BBB+/Agusto *UPDC talisation, rose by 0.92 Consequently , the All- N14.8 billion exchanged 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 *FLOURMILLS perBB/GCR cent, as market senShare Index 14.00 gained 284.406-JAN-2016 by investors in 1,28406-Jan-11 deals. CHELLARAMS *CHELLARAMS A+/Agusto; A-/GCR 29-Sep-11 NAHCO basis points13.00 timent extended gaining orNAHCO 0.9829-SEP-2016 per Volume in the sub-sec14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH by streaks. cent to close at 31,332.39 as tor was largely driven 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA activities in the shares of The nation’s stocks last against 31,047.99 recorded 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING 9-APR-2018 09-Apr-11 Nil *DANA week posted a seventh the previousMPR+7.00 day, DANA while Zenith Bank Plc and AcMPR+7.00 TOWER 9-SEP-2018 09-Sep-11 A-/DataPro†; B+/GCR *TOWER consecutive weekly loss, the market capitalisation cess Bank Plc. MPR+5.25 TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A/GCR *TOWER *GOMBE LAGOS

#{r}

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

*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

30-Sep-11

14.00

BBB-/DataPro†; BB/GCR

#{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

30-Dec-14

16.45

30.50

23-Jul-14

8.00

450.00

14-Aug-14

8.75

250.00

BBB/GCR

16.45 UBA I 30-DEC-2021

A/GCR

UBA N Meyer Nigeria Plc, riod under review from also a 182D T.bills+1.20 STANBIC IA 30-SEP-2024 STANBIC IBTC 13.25 STANBIC 30-SEP-2024 million loss position ofIBN59.848 A/GCRa paint manufacturing STANBIC IBTC TOTAL OUTSTANDING VALUE on the company quoted reported in the same period of TOTAL CAPITALISATION floor of MARKET the Nigerian Stock Ex- 2014, representing 25.51 percentchange (NSE), has swung into age changes. Supranational Bond a loss position, posting Gross 10.20 earnings IFC 11-FEB-2018also dropped AAA/S&P IFC a loss 11.25 AFDBmillion 1-FEB-2021 as against Aaa/Moody's; AfDB after tax ofAAA/S&P N76.603 million for to N557.076 OUTSTANDING theTOTAL second quarterVALUE (Q2) ended N633.462 million a year ago, acTOTAL MARKET CAPITALISATION June 30, 2015. counting for a dip of 12 per cent. Key extracts of the accounts The Chairman Description of DN Meyer Rating/Agency Issuer statement for the second Q2 Plc, Mr Remi Omotosho, had FGN Eurobonds showed drop in growths in key urged manufacturers in the country to leverage the auperformance 6.75 JANon 28, 2021 BB-/Fitch; B+/S&P indices, damping strong performance outlook of tomotive policy of the Federal BB-/Fitch; FGN 5.13 JUL 12, 2018 oneBB-/S&P of the leading paint compa- Government to boost growth BB-/Fitch; 6.38 JUL 12, 2023 nies in the country and revenue. BB-/S&P DN Meyer recorded a loss afOmotosho, who spoke at the TOTAL OUTSTANDING VALUE terTOTAL tax ofMARKET tax ofCAPITALISATION N76.603 million company’s Annual General during the period under review Meeting (AGM) in Lagos last Corporate Eurobonds year, said the future prospects from a loss position ofGTBANK N61.585 7.50 MAY 19, 2016 B+/Fitch; B+/S&P PLC I keying million in 2014, accounting for a of DN Meyer included 7.25 JUL 25, 2017 B+/S&P ACCESS BANK PLC percentage 24.38 BANK perPLC into the recent plans the as6.88 MAY for 09, 2018 B/Fitch; B/S&P change of FIDELITY 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC cent. sembling of motor vehicles in 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC Similarly , the company re- the country. 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC He said: “We are aware of the corded a loss beforeFIRSTtax of 8.25 AUG 07, 2020 B-/Fitch; B/S&P BANK PLC 9.25/6M LIBOR+7.677 JUN 24, 2021 theUSDNigeria’s Gross N75.121 million during theBANK pe-PLC IIrebasing of B-/Fitch; B/S&P ACCESS 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

17.38

99.39

0.19

3.23

16.87

99.21

30-Jun-16

0.69

4.46

18.38

97.26

30-Jun-16

0.70

3.48

17.41

98.76

19-Apr-17

1.75

1.00

15.84

91.34

23-Jul-21

10.11

90.00

14-Aug-21

10.68

10.26

90.88

92.63

1.00 15.62 97.98 nnual 1.23 pre-tax idential elections and 2.45 1.79 16.64 94.84 a significant currency profits 1.83 at PZ Cus1.00 15.84 97.21 04-Oct-18sons, the 1.84Imperial 1.00 15.84 97.18 devaluation have all con09-Dec-18 2.02 1.00 15.85 97.77 Leather soap maker with tributed to a very difficult 12-Dec-18 2.03 4.78 19.63 91.23 a 14-Feb-19 major presence in Nioperating 2.01 1.00 15.85 environment.” 99.41 02-Oct-19 2.45 2.02 16.87 97.36 geria, have slumped by The15.98 households goods 22-Nov-19 4.34 1.00 95.44 almost group15.85 added that some of 12-Dec-19 a third 2.51because 1.00 97.83 3.05 1.82 16.69 important 95.66 marof10-Oct-20 severe political and its other 27-Nov-20 5.35 1.00 15.99 91.21 economic problems in kets were suffering from 31-Dec-20 5.45 1.00 15.99 96.47 the African country, as imported inflation be31-Dec-20 3.29 1.00 15.87 96.71 06-Jan-21 3.32 1.00 97.89 well as unfavourable curcause15.87 of their currencies. rency movements. These included Australia, According to the Fi- Indonesia and Nigeria. The company said the nancial Times of Lon17-Aug-15 0.07 13.63 99.72 for its business is don, for the year to May1.00 , outlook 09-Dec-15 0.39 1.00 14.83 98.94 challenging. the company’s 06-Jan-16 0.46 pre-tax 2.63 16.30 98.94 29-Sep-16fell 32 per 1.19 cent to 1.00 profit PZ 15.58 Cussons97.23 Nigeria 25-Oct-16 1.26 1.34 15.98 98.02 £84million, on revenues Plc had reported a 27.91 30-Sep-17 2.20 1.00 15.85 94.83 per cent of30-Nov-17 £819million.1.43 1.88 16.65 decline 102.33in net 09-Apr-18 1.47 govern1.00 15.80 during 100.19 Nigeria’s new earnings the third 09-Sep-18 1.64 1.00 15.83 102.84 ment continues to battle quarter 2015 ended Febru09-Sep-18 1.64 1.00 15.83 100.17 Boko Haram extremists, ary 28,17.87 2015. 30-Sep-18 3.20 3.00 90.81 18-Oct-18 1.74 2.29 97.98the NiIn a17.13 filing with while the nation’s econo17-Feb-19 1.82 6.11 20.95 95.97 my has been blighted by gerian Stock Exchange 01-Apr-19 2.45 2.16 17.01 98.00 (NSE), the company’s falling oil prices and a 14-Nov-20 5.32 2.76 17.75 91.53 20-Nov-21 6.33that has 1.80 profit16.74 after tax90.42 fell to N currency crisis 30-Dec-21 6.44 1.00 15.94 101.98 2.787 16.04 billion during the made imported goods 30-Sep-24 9.20 1.00 101.10 period review much more expensive and 30-Sep-24 9.20 1.00 16.04 under86.75 eroded people’s spending against N3.866 billion repower. corded the previous year, The naira, was deval- representing a decline of 27.91 per ued by 25 per cent in the 11-Feb-18 2.56 1.00 15.85 cent. 88.45 01-Feb-21 half of 3.78 PZ Cus1.00 15.89 87.39 second Profit before tax stood at N3.991 billion sons’ financial year. In an effort to stem the as against 5.174 billion flow of dollars out ofOffer theYield (%) posted the previous year, Maturity Date Bid Yield (%) Bid Price Offer Price country, Nigeria’s central accounting for a drop of & Yields bank has produced a longPrices 22.85 per cent. list of items locals Turnover increased 28-Jan-21 6.12 cannot 5.90 102.89 103.95 buy with money derived marginally by 0.56 per 12-Jul-18 5.07 4.73 100.15 101.08 from the foreign exchange cent to N52.889 billion 12-Jul-23 6.44 6.28 99.62 100.60 comduring the period, market, including soap as well as toothpicks and pared with N52.594 billion tinned fish. in the same period of last PZ Cussons, which has year. The local unit of Britnonetheless increased its 19-May-16 5.90 5.90 101.25 101.25 annual divided7.52by 3.1 per ish soap and shampoo 25-Jul-17 7.52 99.50 99.50 cent to 8p per share, said: had also91.16 recorded 02-May-18 11.63 10.61 maker 88.91 08-Nov-18 7.75 and our 7.29 94.99 “Within Africa a 37.82 per cent96.29decline 22-Apr-19 7.81 7.81 95.00 largest market Nigeria, in net95.00earnings during 21-May-19 10.17 9.68 95.57 97.07 disruption in the north, the second quarter 2015 07-Aug-20 9.72 9.72 93.70 93.70 the Ebola outbreak, presNovember 30, 2014. 24-Jun-21 10.75 10.39 ended93.81 95.32 30-Jun-17

4.50

3,650.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

0.11

30-Sep-15

30-Sep-18

Domestic Product now stated at 0.10 30-Sep-14 16.29 about30-Sep-14 $510bn as of 2010, which 15.44 13.25 make Nigeria the biggest econ- 177.87 omy in Africa and one of the 11 168.83 fastest growing economies in the world at its current 11-Feb-13 10.20 rate of 12.00 about 10-Jul-14 seven per cent11.25 for nearly 12.95 24.95 a decade now. “We intend to strategically 21.93 leverage on the opportunities Outstanding Value Issue Date Coupon (%) embedded in this phenomenal ($mm) growth to boost our revenue and profit 07-Oct-11 growth.” 6.75 500.00 He said in line with the plan, 12-Jul-13 5.13 500.00 the company was implementing 12-Jul-13 6.38 a robust channel strategy for its 500.00 products so as to connect effec-1,500.00 tively with its existing custom-1,513.29 ers. “The board is poised to maxi19-May-11 7.50 500.00 mise the benefits accruable with- 350.00 25-Jul-12 7.25 in these exciting opportunities, 09-May-13 6.88 300.00 08-Nov-13 6.00 400.00 and with proper implementation 22-Apr-14 6.25 of strategies already in place, we 500.00 21-May-14 8.75 200.00 are hopeful of an improved per- 300.00 07-Aug-13 8.25 formance this year,” 9.25 he said. 24-Jun-14 400.00

8.75 AUG 14, 2021

31-Aug-15

31-Dec-17

35.00

DN Meyer extends losses to N76m in Q2 BBB+/Agusto; BBB+/GCR

99.95

102.66 98.30

PZ Cussons profits cut by currency fall, others

299.79

A/Agusto

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

17.29

17.50 17.97

297.52

TOTAL MARKET CAPITALISATION

A+/Agusto; ‡ /GCR

2.94

2.66 3.13

1.00 JULY 22, 2015 15.73 NEW TELEGRAPH 100.27 WEDNESDAY,

21-Jul-15

3,455.84

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 37 44 51 Rating/Agency 65 72 86 100 114 128 135 142 149 156 NA 170 177 184 191 198 205 212 219 226 TOTAL OUTSTANDING VALUE 240 247 TOTAL MARKET CAPITALISATION 254 261

30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 Issuer 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 24-Dec-15 NA 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 7-Apr-16

275

11.58 12.08 12.07 11.28 12.28 12.39 Description 12.52 13.25 ^13.05 16-AUG-2016 13.45 ^15.10 27-APR-2017 13.38 9.85 27-JUL-2017 13.50 13.64 9.35 31-AUG-2017 12.57 10.70 30-MAY-2018 13.54 ^16.00 29-JUN-2019 12.65 7.00 23-OCT-2019 13.31 ^15.54 13-FEB-2020 12.76 ^16.39 27-JAN-2022 13.67 ^14.20 14-MAR-2024 12.73 15.00 28-NOV-2028 13.60 12.49 22-MAY-2029 13.47 13.54 8.50 20-NOV-2029 13.49 ^10.00 23-JUL-2030 13.57 ^12.1493 18-JUL-2034 13.25 13.68 13.36 13.67 13.29

21-Apr-16

Rating/Agency 289

13.32

Issuer 5-May-16

317

13.09

2-Jun-16

11.33 11.83 11.82 11.03 12.03 12.14 Issue Date 12.27 13.00 16-Aug-13 13.20 27-Apr-12 13.13 27-Jul-07 13.25 13.39 31-Aug-07 12.32 30-May-08 13.29 29-Jun-12 12.40 23-Oct-09 13.06 13-Feb-15 12.51 27-Jan-12 13.42 14-Mar-14 12.48 28-Nov-08 13.35 22-May-09 13.22 13.29 20-Nov-09 13.24 23-Jul-10 13.32 18-Jul-14 13.00 13.43 13.11 13.42 13.04

Description

12.64

13.07

11.61 12.14 12.17 11.41 12.46 12.60 Coupon (%) 12.80 13.60 13.05 13.89 15.10 13.88 9.85 14.09 14.33 9.35 13.18 10.70 14.30 16.00 13.33 7.00 14.11 15.54 13.57 16.39 14.63 14.20 13.60 15.00 14.64 12.49 14.53 14.65 8.50 14.63 10.00 14.77 12.1493 14.43 15.03 14.69 15.11 14.69

Bonds

14.80

Issue 14.61Date

12.84 12.39

Tenor O/N 1M 3M Outstanding 6M

(N'bn)

Value

OBB

Rate (%) 9.8750 14.4839 16.0501 16.7874

O/N Tenor Call 1M 1.07 3M 1.77 6M

Maturity Date

581.39 16-Aug-16 480.13 NITTY 27-Apr-17 20.00 27-Jul-17 Tenor Rate (%) 1M 11.9853 100.00 31-Aug-17 2M 12.8071 300.00 30-May-18 3M 13.8613 351.30 29-Jun-19 6M 14.2293 233.90 23-Oct-19 9M 14.4564 261.73 13-Feb-20 12M 14.4676 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) 591.57 198.9875 23-Jul-30 OFFER ($/N) 199.0875 340.50 18-Jul-34

4,890.82

12.08

12.75

REPO

TTM (Yrs)

Rate (%) 10.00 11.00 14.75 12.00 14.80 13.00

Bid Yield (%)

Tenor

Spot 7D 14D Offer 1M Yield 2M (%) 3M 14.59 6M 14.70 1Y

2.02 14.85 14.75 2.11 14.85 14.76 2.86 14.86 14.79 :Benchmarks 3.94 14.86 14.76 * :Amortising 4.26Bond 14.96 14.84 µ :Convertible Bond 4.57 14.97 14.87 AMCON: Asset Management Corporation of Nigeria 6.52 14.91 14.84 FGN: Federal Government of Nigeria 8.65 Mortgage Bank14.91 14.85 FMBN: Federal of Nigeria 13.36 Finance Corporation 16.08 16.02 IFC: International 13.84 16.23 Management 16.17 LCRM: Local Contractors Receivables NAHCO: Nigerian 14.33 Aviation Handling 16.40 Company 16.32 O/N: Overnight 15.01 15.57 15.50 UPDC: UAC Property Development 18.99 14.84Company 14.78

NOTE:

WAPCO:West Africa Portland Cement Company

Bid ($/N)

Offer ($/N)

197.58 197.68 Price 199.91 199.39 199.79 200.33 200.78 201.37 Bid Price Offer Price 202.73 203.49 205.22 206.23 98.35 98.50 212.93 214.71 100.39 100.54 229.85 233.42

91.55 91.70 90.31 90.46 90.55 90.70 NA :Not 103.29 Applicable 103.59 ^ : Market Prices 75.55 75.85 # : Floating Rate Bond 101.82 102.12 ***: Deferred coupon bonds 106.01 106.31 96.84 ‡ : Bond 96.54 rating under review 94.07 expired 94.37 †: Bond rating 79.84 N/A :Not 79.54 Available {r} :Issuer in receivership 57.12 56.82 68.00 68.30 NGC: Nigeria-German Company 83.09 83.39 UBA: United Bank for Africa

4,462.11 Coupon (%)

Outstanding Value (N'bn)

Maturity Date

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

0.95 1.38 1.75 1.96

2.94 1.00 2.66 3.13

17.29 15.73 17.50 17.97

99.95 100.27 102.66 98.30

14.20

Agency Bonds 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 ***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 FMBN

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

*for the Amortising bonds, the average life is calculated and not the duration

**Exclusive of non-trading t.bills

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

299.79

Sub-National Bonds A/Agusto

KADUNA

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

‡ /Agusto

*IMO

A+/Agusto; ‡ /GCR

LAGOS

‡ /Agusto

*BAYELSA

‡ /Agusto

EDO

‡ /Agusto; A+/GCR

*DELTA

FMDQ FGN BOND INDEX

31-Aug-10

12.50 KADUNA 31-AUG-2015

Modified Duration Buckets

<3 3<5 >5 Market

13.00 EBONYI 30-SEP-2015

Porfolio Market Value(Bn)

14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 841.47 10.00 LAGOS 19-APR-2017 13.75 BAYELSA1,453.28 30-JUN-2017

671.88 14.00 EDO 31-DEC-2017 2,966.64 14.00 DELTA 30-SEP-2018

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 28.36

13.75 48.99 14.00 22.65

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

0.11 0.19

Implied Yield

0.69

30-Jun-16 13.20 19-Apr-17

0.70 14.83 1.75

100.00 30-Sep-18

15.05 1.83

43.89 30-Jun-17 42.91 31-Dec-17

14.92 1.23 15.25 2.45

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.84

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

2.02

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

2.03

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.01

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

2.45 4.34 2.51

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

3.05

4.44 3.23 Implied Portfolio Price 4.46 3.48 128.9351 1.00 125.6087 1.00 91.7477 1.79 116.7146 1.00 1.00 1.00 4.78 1.00 2.02 1.00 1.00 1.82

17.38

99.39

16.87

99.21 YTD Return (%) 97.26

INDEX

18.38 17.41 1,173.01 15.84 1,088.95 15.62 1,106.11 16.64 1,111.43 15.84 15.84 15.85 19.63 15.85 16.87 15.98 15.85 16.69

98.76 5.8818 91.34 7.5432 97.98

9.8406 94.84 5.3302 97.21 97.18 97.77 91.23 99.41 97.36 95.44 97.83 95.66

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Enugu commissioners, advisers get portfolio

xcitement and jubilation yesterday greeted the assignment of portfolios to newly appointed commissioners and special advisers by the Enugu State governor, Ifeanyi Ugwuanyi, who had last week told the appointees that there was no room for failure in his administration. The expression of satisfaction from all sections of the state was a positive reaction to the propriety of assignment of the ministries to the members of the Executive Council and consequent expectation of the required service delivery. Ugwuanyi, in his avowed determination to make a success of his government, assigned the functions of the Justice ministry to a seasoned lawyer, Miletus Ezugworie Eze, an agricultural engineer of long standing experience, Mike Eneh, is in charge of the Ministry of Agriculture, a renowned educationist, Prof. Uche Eze, for Education, Fide Ani, Chieftaincy Matters, Ndukwe Charles Chuka for Youths and Sports, Sam Ogbu Nwobodo, Commerce and Industry and Chidi Aroh, Enugu Capital Territory Development Authority.

Egwu heads committee on Ebonyi workers’ salary crisis Charles Onyekwere and Uchenna Inya

bonyi State government yesterday set up a 35-man committee headed by former Governor Sam Egwu to settle the lingering feud between it and the organised labour over the payment of salaries. Governor Dave Umahi set up the committee during a stakeholders’ forum he convened to highlight the state’s financial posi-

Awka

n engineer at the Federal Ministry of Works, Mr. Edward Bosah, yesterday said work on the Second Niger Bridge has reached its third phase, contrary to the speculation making the rounds that work on the project had stopped. He made the revelation during the inspec-

tion and the activities of his administration. Umahi said the state’s allocation had dropped to abysmal level courtesy of the drop in oil prices, which he said has affected even the Federal Government’s revenue. He said: “We are not at war with our workers; in two years we shall turn Ebonyi into a success story. We are evaluating the salaries of our civil servants.” The governor also lamented that 662 ghost

workers and 20 non-existent schools had been uncovered in the state. “Schools are in a sorry state and we will do empirical evaluation of the schools and hand over some of them to the missionaries.” Umahi enjoined the committee to see the area of engagement based on the economic realities of the state, assuring that he would abide by all the decisions of the committee. Going by the implication of the demand of the workers, the gover-

nor said the government needed to borrow an average of N500 million every month to pay salaries. Meanwhile, the strike action by Ebonyi workers which was slated to begin yesterday, have been shelved as the state government, has perfected plans to pay the workers their June and July salaries from today. Governor Umahi made this known while addressing a cross-section of stakeholders in the state that was held at the

L-R: Public Relations Officer, Prison Officers’ Wives Association (PROWA), Mrs. Henrietta Toby; Secretary, Mrs. Afujue Ogechukwu and President, Mrs. Lizzie Ekpendu, during a fund-raising programme for PROWA Nursery and Primary School, Enugu …yesterday.

Work on Second Niger Bridge reaches third phase Pamela Eboh

News 47

SOUTH-EAST

tion tour of the construction site by the Governor of Anambra State, Chief Willie Obiano, at the main yard and camp site of Julius Berger, the construction firm handling the project. The Site Engineer, Mr. Stefan Ueseman, also hosted the governor in the situation room and took him through a presentation of the work being done.

PUBLIC NOTICE

WATCHMEN PROTOCOL AND PREVAILING MISSION This is to inform the general public that the above named MISSION has applied to the Corporate Affairs Commission for incorporation under part “C” of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Rev’d Elijah Adetunji Adelani 2. Rev’d Peter Oloyede 3. Rev’d Kunle Onawumi 4. Past. Abraham Sayo Onaolapo 5. Past (Col. Rtd.) Micheal Oladoye Olagunju 6. Chaplain Joseph Timothy Adeleke 7. Past (Mrs) Martha Oloko AIMS AND OBJECTIVES 1. To provides humanitarian services to the Christian fold during and after gospel crusades 2. To establish a central prayer centre to mobilize leaders of ministries and saint to pray for a continued monumental global evangelism 3. To promote crime prevention activities by organizing meetings, seminars and conferences 4. To contribute to developing local and national strategies on crime prevention in the Churches and society at large Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. Signed: TRUSTEES

PHOTO-NAN

Akanu Ibiam International Conference Centre, Abakaliki. Umahi who admitted that during his campaigns, he promised to pay the minimum wage to civil servants, said the promise remains sacrosanct and must be fulfilled. According to the governor, when those promises were made, the oil price which is the main source of the nation’s income was about $116 per barrel. In March, the price came down to $48 per barrel and has steadily risen to $60 per barrel today. Continuing, the governor expressed dismay at the last administration for increasing workers salaries three months to the end of its tenure, which Umahi said was politically motivated as no state in the country increased salaries when the oil price went down by nearly 60 percent. He said: With the payment of the salaries in April, all local government areas and development centres are only left with N208, 797, 928.06 to run the council areas and the development centres and do projects. “The implication of paying the new salary demanded by labour is such that government will be left with between N35 million to N241 million per month to run the ministries.”

INEC lawyer petitions IG over alleged death threat Steve Uzoechi OWERRI

ollowing alleged threats to his life by the former senator representing Imo West and the senatorial candidate of the All Progressives Congress (APC) in the last general elections, Senator Osita Izunaso, the counsel for the Independent National Electoral Commission (INEC) at the Senatorial Petitions Tribunal, Louis Alozie, has petitioned the Inspector General of Police (IGP), expressing concerns over his personal safety.

According to the petition signed by another lawyer, Mr. Frank Ugboma, which was made available to our correspondent, Alozie was duly briefed by INEC to defend her position in two separate petitions in Imo West senatorial election; EPT/IM/SEN/4/2015 and EPT/IM/SEN/5/2015 involving Senator Izunaso vs Senator Hope Uzodinma and Felix Idiga vs Senator Hope Uzodinma, respectively. Trouble started when the tribunal granted Izunaso’s lawyers an order to inspect documents

and all electoral materials and make copies and Certified True Copies. The court also granted Izunaso leave to carry out a recount of the ballot papers used in the said election. When the order was served on INEC, the commission while seeking the advice of Alozie, expressed worry that the order did not make provision for respondents in the petition to be present during the inspection and ballot recounting exercise. Expectedly, Alozie on July 14, 2015 advised the

commission, indicating the need for the court to clarify the ambiguities in the order, in the light of pending processes initiated against the order by another respondent. According to the petition, two days later, one Kennedy Asode, an acquaintance of the INEC counsel called him on his cell phone and while the discussions veered to the Senator Osita Izunaso petition at the tribunal, Louis Alozie made it clear to Asode that his brief is to defend the position of INEC.

Buhari not fair to South-East in appointments, says Rep Igbeaku Orji Umuahia

member of the House of Representatives, Hon. Sam Onuigbo, yesterday said President Muhammadu Buhari, has not been fair to the South-East in the appointments so far made by him, especially the recent appointment of the service chiefs in the country. He said the appoint-

ments made by the President so far have been lopsided in favour of the northern part of the country. Onuigbo, who is representing Ikwuano/Umuahia in the House of Representatives, also expressed disappointment over the appointments, saying that the provisions of the constitution and the federal character principle should have been followed to give every section a sense of

belonging. He spoke in Umuahia during a radio programme, ‘News Conference’ that the exclusion of the South-East in the military high command announced last week by the President smacked off disregard for the federal character principle and other laid down procedures for making such appointments. He said such lopsided appointment was capable of alienating a section of

the country at a time when the country needed peace and unity most. Onuigbo added that such sensitive appointments should take into consideration the country’s diversity in order to assuage feelings of marginalisation. The lawmaker also expressed hope that the current leadership crisis in the National Assembly would soon be resolved to make way for effective representation.

News

Clement James Calabar

call has gone to the Federal Government to charge the immediate past National Security Adviser, Col. Sambo Dasuki (rtd) and the former Chief Security Officer to former President Goodluck Jonathan, Mr. Gordon Obuah, to court instead

SOUTH-SOUTH

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Charge Dasuki, Obuah to court –PDP chair of being held in detention. The Cross River State chairman of the Peoples Democratic Party (PDP), Ntufam John Okon, made the call in Calabar, yesterday while commenting on the arrest of the Chief Security Officer to the former President, stating that rather than hold any of

the two former security chiefs in detention, the Federal Government should embrace the democratic principle of rule of law by charging them to a court of competent jurisdiction. He said although he was not speaking for the former Jonathan’s aides, but was averse to a situation where they were

being held as if the country was administered through jungle laws. “We are operating a democratic system and we have been operating this system in the past sixteen years. We have never had a situation where people were held for days without being charged to court. We were conscious of

the fact that we were operating a democratic system and that should be followed by this administration,” he argued. Okon noted that the PDP government did not have any reason to throw people into security cells, adding that the democratic principles of former President Jona-

than were now being vindicated. Okon called on the Federal Government to release any of the former aides if the allegations against them cannot be substantiated, saying that denying them of their freedom on trumpup charges without trial was a total violation of democratic principles.

Give appointees enduring atmosphere to operate, Ijaw youths tell Okowa Gabriel Choba Ughelli

he people of OgbeIjoh Warri Kingdom of Delta State yesterday appealed to Governor Ifeanyi Okowa, to create an enabling environment for all political appointees in the state, in order for them to be able to contribute meaningfully in his administration. Speaking through an Ijaw group known as Ogbe-Ijoh Warri Urban Youth Forum in a statement signed by Godspower Bouyi and Richard Koremene, Chairman and Publicity Secretary respectively, the group, while commending the Governor Okowa for appointing one of them Mr

Omare, as Special Assistant on youth and community development appealed to all Delta youths to be law abiding and corporate with the governor’s aides. This the group said will create the desired conducive environment that would bring the dividends of democracy. The statement read in part; “We the members of the Ogbe-Ijoh Warri Urban Youth Forum heartily express our infallible gratitude to Senator Ifeanyi Okowa the Executive Governor, Delta State for the appointment of one of our brother Mr. Eric Omare, as Special Assistance on Youth and Community Development.”

Anxiety in Delta community as rival cult groups clash Gabriel Choba Ughelli

esidents of Ovwian community of Udu local government area of Delta State are presently living in fear following a clash between two rival cult groups which has resulted in the loss of lives and property on since last Wednesday. It was learnt that trouble started last Wednesday night when two rival cult groups (Baga and Dominion) engaged in a bloody clash that led to several members of Ovwian community fleeing their homes to avoid being stuck in the

mayhem. The incident was said to have led to the death of a middle aged man identified as Mr. Erhuvwun Kebe, the setting ablaze of three cars while the community town hall was destroyed. The President General of the community, Engr. Paul Odiete, condemned the incident which resulted in the destruction of Community town hall and property worth millions of naira. Odiete said the incident which started at about 10:30pm on Wednesday, was between two cult groups.

Participants at the training on cassava processing by West Africa Agricultural Productivity Programme (WAPP) in Uyo, Akwa Ibom State…yesterday.

Work to begin on $1.5bn petrochemical plant in Akwa Ibom A

kwa Ibom State Governor, Udom Emmanuel, has said that work would soon commence on the $1.5 billion petrochemical plant located in Ibeno. While speaking with Journalists over the weekend, Emmanuel said the plant, whose ground breaking was performed by ex-President Goodluck Jonathan last year in Ibeno when completed, would

generate a lot of employment opportunities for the people of the state. He also said that the government has put everything in place for the take-off of the plant. “We have done the environmental impact assessment, the Certificate of Occupancy (C-of-O) has been issued and site has been cleared and ready for work to start. Once the gas purchase agreement with Exxon Mo-

bile is finalized, work will commence immediately,” Gov. Emmanuel said. The governor also used the opportunity to commend the initiative of Mr. Jim Ovia, Chairman of Quantum Petrochemicals for believing in the state. “We want to use this opportunity to thank the Chairman of Quantum Petrochemicals Company Limited, Mr. Jim Ovia, for this huge investment in our

state. This project will create employment for thousands of our people and will also add to our efforts to rapidly industrialize our state. Mr. Ovia is one unique Nigerian business mogul who believes in the endless possibilities of this great nation, the ‘can-do’ spirit that is embedded in our people. He is a man of impeccable character and his zeal for development is highly commendable.”

UPU cautions against misappropriation of funds Jonathan no threat in Bayelsa – Brambaifa Gabriel Choba Ughelli

ollowing the allegation of misappropriation of funds against the leadership of the Urhobo Progress Union, UPU, the Chief Joe Omene led executive of the union yesterday cautioned members of his executive to be mindful of the positions they express on the allegation. Omene had also said that the dispute between him and the union’s second Deputy President General, Chief Tuesday Onoge, during the recent general

election in the state, was political, stating that they will put everything behind them and work for the unity of the Urhobo nation. Omene who expressed the position while fielding questions from journalists over attempt by his members to impeach him on an allegation of misappropriation of fund, said he will not hesitate to make himself available if he was called upon to give his own side of the activities of the union and its finances. He vowed to take on any executive member of the union who dares to smear his image over the allega-

tion of fund mismanagement. Omene said, “I will take on any member of my executive who accuse me of financial misappropriation, if any team of Urhobo people or media practitioners, call for a debate provided those accusing me will also be available because they are not interested in the progress of Urhobo nation.” “If anyone is interested in becoming the President General of UPU, he should wait till the expiration of our present tenure instead of devising means of impeachment on me.”

Johnchuks Onuanyim Abuja

head of the Bayelsa State governorship election slated for December, a former senator and a new member of the All Progressives Congress (APC), Senator John Kojo Brambaifa, has dismissed the influence of the former President, Dr. Goodluck Jonathan in the election. Brambaifa, who spoke to reporters at the APC National Secretariat in Abuja yesterday, alleged that Jonathan was not popular

as President and therefore cannot be said to have influence outside office. The Senator, who represented Bayelsa West Senatorial District, alluded to the statement attributed to the former President, Chief Olusegun Obasanjo that the Jonathan Presidency would hunt the South South for long time. Speaking on the former President person and his administration, Brambaifa said, “The former president is not the president. He is a former president and from my assessment, he is not popular now and he was not that popular

when he was even the president. “He was not popular because he was imposed on us. If it were the people of Bayelsa or the people of the South-South to pick a vice -president as at that time, he became a vicepresident, l don’t think that people would have picked Goodluck Jonathan. “He didn’t have the capacity to be vice president as at that time. He was imposed and if he was not popular at that time and he had shown that by losing the election woefully, then that unpopularity is still there to date.”

NEW TELEGRAPH wednesday, july 22, 2015

News 49

north

Sokoto to spend N4bn in transforming agriculture Umar Abdullahi Sokoto

okoto State government is to spend N4 billion in undertaking the reclamation of farms and Kware dam agricultural

‘No bias in sacking of Kaduna perm secs’

transformation agenda phase one. The scheme, which is in collaboration with the Federal Government and African Development Bank is scheduled to be executed at the at the cost of N4 billion. Governor Aminu Waziri Tambuwal, stated this at the flagging-off of this year’s fertilizer sales and distribution held Tuesday at Rabah council area.

Also, the government is collaborating with big-time rice processing and milling companies to boost rice production for export and consumption. Under the new programme, nine boreholes are to be dug, 17.5 km of water channels, 53 roads, in addition to the construction of village markets. Tambuwal stated that a total of 9, 000 tones of fertilizer, which compris-

ing NPK and Urea, which cost N1.2 billion will be supplied. He added that the said figure, which also doubles the amount given last year, is to be distributed to farmers this rainy season. According to him, the government is to pay 25 per cent of the cost of fertilizer which consist that of the state and Federal Government as part of its contribution in making fertilizer af-

fordable and accessible to farmers vie the e-wallet platform. Tambuwal revealed that under the programme, farmers are to pay half of the cost of the fertilizer while the state and Federal Government's are to settle the other half. He stated that the state government will distribute 1,000 ploughing machines at a subsidized rate where by the

government would pay 30 per cent of the cost, leaving the farmer to settle the remaining 70 per cent totalling N50,700,00. The governor urged the people of the state, especially youths to avail themselves of the enormous opportunity to be derived from College of Agriculture, Wurno, which is to teach agricultural Science and Animal Husbandry among other specialities.

Ibraheem Musa Kaduna

he Kaduna State government yesterday denied that the retirement of 20 permanent secretaries in the state civil service by the Governor Nasir El-Rufai administration, was done with bias. It said the exercise was done without malice as it cuts across all parts of the state and religions, while those affected were those whose ministries were scrapped and those who were due for retirement. According to a highly placed government source, who spoke with our correspondent yesterday, some former classmates and seniors of Governor El-Rufai at Barewa College were also affected in the exercise. The source, who does not want to be named, was reacting to the allegation that out of the remaining 13 permanent secretaries that will oversee the restructured ministries, only three of them are Christians. Speaking to our correspondent, the source said some of the best permanent secretaries like those of the former Ministries of Lands and Information, had to be retired because their ministries have been scrapped. “The permanent secretary of Information was El-Rufai’s classmate at Barewa College, his counterpart at the Bureau for Islamic Matters, was the governor’s senior at secondary school, but they were sent packing,” he said.

Sokoto State Governor, Aminu Tambuwal (middle) with members of the League of Imams and Alfas, during their visit to the Government House,Sokoto …yesterday.

UNICEF reiterates support for less-privileged children Ibraheem Musa Kaduna

he United Nations Children’s Education Fund (UNICEF) yesterday in Kano State, reiterated its support to children, especially those from lessprivileged background to achieve their full potential through qualitative education. The Communication Officer of UNICEF in Kaduna, Rabiu Musa, who disclosed this, also told newsmen that the organisation has hosted 200 orphans and less-privileged children drawn from six local government areas of the state on a tour to NTA and other recreational

centres within the state capital in the spirit of the Eid-el-Fitri. According to him, the visit to NTA was part of education for the children that is aimed at exposing them to the process of broadcasting as well as get them to interact and socialise with professionals as part of the Sallah celebration. “These children, about 200 of them, are orphans from very low families, less-privileged and marginalised with some level of vulnerability in the society. Through UNICEF partnership with Fifth Chukker and Access Bank, we are looking at ways to improve the quality of their lives.

13 commissioners, 18 special advisers inaugurated in Benue Cephas Iorhemen MAKURDI

enue State governor, Samuel Ortom, yesterday inaugurated 13 new commissioners and 18 special advisers to drive the machinery of governance with a stern warning against pilfering of funds meant for the execution of projects

that have direct bearing on the lives of the people. Performing the ceremony in Makurdi, the governor said his administration will not hesitate to drop any government official that indulges in any dirty deal capable of running down his administration, which he said has zero-tolerance for corruption. The governor also ad-

vised them to shun acts of flamboyance, but that they should be frugal and sensitive to public perception and commit public funds only to the advancement of public good. Ortom said he has decided to trim down the number of ministries from 17 to 13 and advisers from 28 to 18 as was the case in the Gabriel Suswam's administration.

Kano didn’t benefit from bail-out, says commissioner Muhammad Kabir kano

he Kano State government yesterday said the state did not benefit from the recent bail-out by the Federal Government to states in the federation, saying the state is buoyant enough to take care of its obligations. Disclosing this yesterday to New Telegraph in Kano, one of the commissioners in the state, Prof. Kabiru Isa Dandago, said what the state collected

from the Federal Government was not a bailout but money wrongly deducted from the states monthly allocations and projects of the Federal Government that was executed by the state. Dangogo said: “Kano did not make any request for bail-out, what we asked for was money that were wrongly deducted from our allocations and the projects we executed on behalf of the Federal Government.” The commissioner explained that “in Kano we have no problem with

payment of salaries, because we prioritise our spending whenever the monthly allocations were received.” He said the bail-out arrangement was not favorable to the state and this was because we were not indebted to the workers. Dangogo said since the last administration of Rabiu Kwankwaso, the state had been prudent in managing and curtailing leakages in public spending and that was exactly what helped us.

Ortom presents N12.9bn supplementary budget to Assembly Cephas Iorhemen MAKURDI

enue State governor, Samuel Ortom, yesterday presented a supplementary budget of over N12 billion to the Benue State House of Assembly for consideration and possible passage. The supplementary budget seeks to jack up the N97, 952, 126, 303.00 earlier approved by the

immediate past administration to N110, 892, 476, 815.00. The governor, who was represented by the Permanent Secretary, Ministry of Finance, Mrs. Ruth Ijir, laid the Supplementary Appropriation Bill before the lawmakers. Leading debate on the issue during the second reading of the Benue State Supplementary Finance and Appropriation bill 2015, the Majority

Leader, Hon. Benjamin Adanyi, who was represented by the member for Katsina Ala East Constituency, Hon. Liana Jato, explained that the state government proposed a supplementary budget of N12, 940, 350, 511.50. Jato said the decision to increase the budget was informed by the need to match the urgent economic realities with the aspirations of the new administration.

50 WORLD | News

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

Burundi’s presidential poll holds amid violence

policeman and an opposition official died in violence marring the start of Burundi’s presidential election yesterday, held amid protests over President Pierre Nkurunziza’s decision to run for a third term and an opposition boycott. Blasts and gunfire echoed around the capital early yesterday in Burundi’s worst crisis since a civil war ended in 2005. Dozens have been killed in weeks of demonstrations, a failed coup and clashes between rebel soldiers and the army. Voters queued outside polling stations in some rural areas and districts of Bujumbura that are strongholds of Nkurunziza supporters. In other areas there were only trickles of voters. Opponents accuse Nkurunziza of violating the constitution by seeking another five years in office, but Nkurunziza, almost

sure to win given the opposition boycott, cites a court ruling saying he can run again. Western donors and African states, worried about tensions in a region with a history of ethnic conflict, urged Burundi to postpone the poll. The United States and European states have halted some aid to Burundi, one of the world’s poorest nations. Presidential adviser Willy Nyamitwe said one policeman and a civilian had been killed in overnight violence. “People do it to intimidate voters. They don’t want the voters to go to the polls,” he told Reuters. Residents in the capital’s Nyakabiga district identified a body found there as an official in the opposition MSD party and accused the government of killing him. A police source confirmed the victim was part of the opposition. A crowd blocked a thoroughfare with rocks and women chanted “We need justice and truth” near

the body, before the Red Cross took it. “We see the shooting last night as a kind of intimidation,” said 32-year-old Desire Kabaya in Nyakabiga. “There will be chaos after this election because the government that will follow will not be recognized by all the people.” The US State Department said elections held in these conditions “will not be credible and will further discredit the government.” It said Washington would review ties and could impose visa restrictions on those behind the instability. More than 170,000 Burundians have fled the nation of 10 million to refugee camps in Tanzania, Rwanda and the Democratic Republic of Congo. Flanked by bodyguards jogging or walking alongside him, Nkurunziza cycled to a polling station in his northern home village of Buye, which was also filled with soldiers. The president queued to cast

his ballot, and before pedaling off, told reporters the election was to “allow the Burundian people to vote or to choose someone they believe in.” Emery Ndayizere, 30, in Bujumbura said there was no point voting. “The elections are just a masquerade because only one party is competing,” he said. Burundi’s electoral commission said opposition names were still

on the ballots and any votes for them would be counted. The result could take several days to emerge. Ferdinand, a 40 year old voter in Bujumbura, said he would vote for Nkurunziza, a soccer fan who is often pictured rolling up his sleeves to apparently help people in the fields, because he had “a good program of development for ordinary citizens.”

Maldives Parliament votes to impeach Vice-President

arliament in the Maldives yesterday voted overwhelmingly to impeach the vice president after accusing him of dereliction of his duties. Mohamed Jameel, deputy to President Yameen Abdul Gayoom since their election in 2013, was ousted by a near-unanimous vote; 78 lawmakers voted against him, two lawmakers for him and one abstained. Jameel’s impeachment was proposed by his own government colleagues and supported by the opposition in what is widely believed to be an exchange for concessions for jailed opposition leader and expresident Mohamed Nasheed. Jameel who is in Britain and did not return home to answer charges said in a me-

dia statement that he was sidelined by the government and was not allowed to work. Nasheed was jailed earlier this year for 13 years after being convicted of ordering the arrest of a top judge when he was president three years ago.It threatened a protracted political crisis; however, relations between the Gayoom government and opposition Maldivian Democratic Party have eased lately, paving the way for Nasheed to be transferred to house arrest and his party colleagues negotiating his release. The Maldivian media reported earlier that the impeachment was brought to allow a Gayoom loyalist, Tourism Minister Ahmed Adeeb, to be appointed to the position.

Court suspends trial of ex-Chadian dictator

Boys from the Xhosa tribe who have undergone a circumcision ceremony.

32 boys dead in South African initiation season

raditional rite-of-passage ceremonies in South Africa left 32 boys dead and more than 150 hospitalised, local authorities said yesterday, as the annual initiation season drew to a close. Most of the teens died from botched circumcisions, an important element of the ceremony marking transition from boy to man, said Sifiso Ngcobo, spokesman for the traditional affairs ministry. “Others died from beatings, dehydration or exposure to unhygienic conditions,” he said. Of the deaths, 27 were in South Africa’s rural and deeply

traditional Eastern Cape province, where Ngcobo said over 150 had been hospitalised for burns, serious head injuries and one case of a partially amputated penis. The rite of passage into adulthood usually follows a bush retreat of two to four weeks and is widely seen as a test of physical endurance. The season for the rituals lasts around six weeks, coinciding with the peak of winter in South Africa. But each year teenaged boys die or are left mutilated. A commission last year found over 400 boys died and half a million were hospitalised after attending the winter initia-

tion schools between 2008 and 2013, with a major cause being complications such as infection after circumcision. The deaths have been widely condemned by government and cultural rights bodies, even while some defend the traditional initiations. “It is really regrettable and unfortunate,” Zolani Mkiva, spokesman of the Xhosa king Zwelonke Sigcawu, told AFP earlier this month. “This is one of the most important rituals within our society. As much as it is important, we cannot afford to lose lives over this ritual. The importance of life is greater than the importance of the ritual.”

Turkey suicide bombing suspect identified

suspect has been identified in the suicide bomb attack that killed 32 young activists in Turkey, the country’s prime minister has said. Ahmet Davutoglu, speaking near the scene of the blast in Suruc near the Syrian border, said the suspect’s international and domestic links were being investigated. He said there was a “high probability” the Islamic State group was to blame. The government has now vowed to increase security at the Syrian

border. “What’s necessary will be done against whomever is responsible,” said Mr Davutoglu. “This is an attack that targeted Turkey.” Meanwhile, Suruc is home to many refugees who have fled fierce fighting between IS and Kurdish fighters in nearby Kobane. The city was recaptured from the militants by Kurdish forces earlier this year. There were violent clashes across Turkey Monday night, as protesters took to the streets to accuse the

government of not doing enough to combat the threat of IS. Two people were wounded after being shot during clashes in Mersin. According to Reuters, demonstrators in Istanbul chanted slogans accusing Turkish President Recep Tayyip Erdogan of collaboration with IS. Western states have also accused Turkey of not doing enough to halt the rise of group, but the country appears to have taken a harder line against it in recent weeks.

he trial of Chad’s exdictator Hissene Habre was suspended yesterday until September to allow courtappointed lawyers to prepare his defense. The Extraordinary African Chambers, established by Senegal and the African Union, is trying Habre for crimes against humanity, war crimes and torture, in an unprecedented case of one African country prosecuting the former ruler of another. Habre, yesterday refused representation. Attorney General Mbacke Fall said Habre must accept lawyers appointed by the judge. The court appointed three Senegalese lawyers to represent Habre and they were given until September 7 to prepare the defense. “The appointed

lawyers have a duty to defend Habre. Even if the accused refuses to collaborate with the appointed lawyers for him, the procedure will continue,” said Judge Gberdao Gustave Kam. Reed Brody, counsel for Human Rights Watch and who has been working with Habre’s victims since 1999, said they are disappointed, “but they have been fighting to bring this case to court for 25 years, and 45 more days will not change anything in their long march toward justice.” Habre dismisses the tribunal as politically motivated. On Monday, Habre was taken away from court by security guards after he and a supporter yelled out. He then refused to return.

Pope urges UN to take strong action on climate change

ope Francis yesterday urged the United Nations to take a “very strong stand” on climate change at a landmark summit this year in Paris on global warming. The pope spoke at a Vaticanhosted conference of mayors and governors from major world cities who signed a declaration urging global leaders to take bold action at the UN summit, saying it may be the last chance to tackle humaninduced global warming. “I

have a great hopes in the Paris summit,” he said. “I have great hopes that a fundamental agreement is reached. The United Nations needs to take a very strong stand on this.” Last month, the pope issued an encyclical on climate change, the first ever dedicated to the environment. The call to his church’s 1.2 billion members could spur the world’s Catholics to lobby policymakers on ecology issues and climate change.

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

News

NBBF receives Junior Tigresses, unveils new coaches

International Sport

FIFA Ad-hoc Electoral Committee holds first meeting

League Rendezvous

Interview

Ogunbote gets management support

Sport

Squash, best sport for fitness – Akinfenwa

Did you know? That the longest tennis match was between American John Isner and Frenchman Nicolas Mahut at Wimbledon from June 22 to 24, 2010. The first-round match took 11 hours and five minutes over three days.

Iheanacho on target as City beat Roma Ifeanyi Ibeh

Manchester City’s Kelechi Iheanacho battling for the ball with AS Roma’s Mapou Yanga-Mbiwa on Tuesday during their pre-season friendly for the International Champions Cup.

Beware of Tanzania, Disu tells Oliseh

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

igeria junior international, Kelechi Iheanacho, on Tuesday found the back of the net for Manchester City in a pre-season friendly in the Australian city of Melbourne. The game was City’s first in the International Champions Cup tournament and the former English Premier League champions won 5-4 on penalties after a 2-2 draw. Manchester City manager, Manuel Pellegrini had on Monday hinted that the Nigerian teenager would feature against Roma after recovering from what the Chilean described as “a small problem with his hamstring.” Iheanacho did not disappoint as he pounced on a poor Ashley Cole back pass to hand City a 2-1 lead early in the second half after Miralem Pjanic had cancelled out Raheem Sterling’s third minute opener with a stunning long-range strike. Sterling, who was making his debut for City following the completion of his £49m move from Liverpool on July 14, started on the left side of a front three that included David Silva and Iheanacho, who spearheaded the City attack. The 20-year-old Sterling was substituted at half-time. Adem Ljajic curled home a free-kick with three minutes left on the clock to take the game to penalties, where City and England goalkeeper Joe Hart made two saves and also scored to give the English side the win. City’s next game comes up on Friday against Real Madrid. And Iheanacho will be out to press his claim for a first-team spot in the coming season after missing the opening two games of City’s tour of Australia.

Ajibade Olusesan

former Technical Director of the Nigeria Football Association, Tunde Disu, has warned the Super Eagles to be wary of the antics that may be deployed by their next opponents in the 2017 Africa Nations Cup qualifiers, Tanzania. Disu said that the Nigerian team should be ready to face harsh conditions when they arrive the country in September. He added that the East Africans would do everything to frustrate the Super Eagles and the contingent to Tanzania.

Disu said that the smaller footballing nations were usually jealous of countries like Nigeria because of the quality of stars in the teams and frequently engage in pranks to gain psychological advantage ahead of contests. “Eagles should expect hostile environment in Tanzania. It is going to be something like a war there. I have played there before and I know that stadium will be jam-packed. Although I won that match 2-0 but I saw passionate football people, who love their national teams. “Super Eagles should expect that the match will be taken to a stadium with a bad pitch. They

know our players play in Europe and play on good pitches in their clubs and may find it difficult to operate on a bad one. They will take us there and the hospitality will not be top class. All of these should be part of the considerations when we plan for the match,” he said. The former Flying Eagles coach said Eagles must silence the crowd with an early goal so as to make the encounter easy. “Our strategy for the match should be to watch them for the first few minutes and by the first 20 minutes we should have scored our first goal. We have to silence the crowd early

in the match so that we can gain quick advantage to make the contest easy,” he said. He said that the Eagles had quality strikers to execute such plans. He also advised the coach to give the players freedom to express themselves. He said that the match was very crucial being the team’s first away game. “Our strikers can score goals but they have to be determined. We have not been doing well away from home for some time and that is why this match is very crucial. If Eagles must win the group then they must get points away from home,” he said.

Sport

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

NBBF receives Junior Tigresses, unveils new D’Tigers coaches Adeolu Johnson ABUJA

he Nigeria Basketball Federation on Wednesday hosted members of the country’s silver-winning team to the recently concluded FIBA Africa U-16 Women Championship in Madagascar and unveiled the new coaching crew of the country’s senior men’s national team. On hand to receive the Nigerian girls, who arrived in Abuja on Tuesday afternoon from Kenya, where they had been since Monday, a day after their final loss to Mali, were the President of the NBBF Tijjani Umar and the Director General of the Na-

tional Sports Commission, AlHassan Yakmut. Yakmut praised the girls for their performance in Madagascar and for securing a ticket to next year’s FIBA U-17 World Championship. He also added that the girls would be camped at the High Performance Centre at Package B of the National Stadium, Abuja. Meanwhile, the senior national team coaches unveiled were Head Coach William Voigt, and his assistants John Bright, Matthais Ekof, Ayinla Johnson and Abdulrahman Mohammed. Voigt was previously the Head Coach and General Manager of the Bakersfield

Why we presented Oliseh to Glo – Pinnick

he President of Nigeria Football Federation, Amaju Pinnick, has stated that the NFF presented the new Coach of Super Eagles, Sunday Oliseh first to Globacom because of the great respect the body has for the sponsors of Nigerian national teams. Mr. Pinnick who made this remark last week when he led the board of the Nigeria Football Federation to present Oliseh to the company also stated that: “The NFF felt that such a personality like Oliseh should first be taken to our prime sponsor, Globacom.” Pinnick stated that the NFF was proud of its relationship with the telecommunications company, Globacom,

adding that it will keep building and maintaining the partnership. “Oliseh is a Manager who will work with various components and units of Nigeria Football Federation; he is very cerebral and scientific, in addition to being I.T compliant. We will support him fully,” Pinnick added. On his part, Oliseh said Globacom, as a global brand, had done a lot to improve Nigerian football. In his remark, Coordinator Business Solutions of Globacom, Mr. Ike Oraekwuotu, stated that the Company’s Chairman, Mike Dr. Adenuga Jr. heavily supported the choice of Oliseh, as the new Chief Coach of Super Eagles.

Jam of the NBA Development League from August 2009 to July 2014 during which period he won more games than any other coach in the D-League and helped his team to the Western Conference title during the 2012/2013 season. He was voted American Basketball Association Coach of the Year in 2008 and had previously coached two of the country’s standout players, Alade Aminu and Ike Diogu, in the NBA D-League. The senior national team, D’Tigers, will be taking part in the 2015 Africa Cup of Nations (AfroBasket) in Tunisia where they will be vying for an automatic ticket to the basketball event of the 2016 Rio Olympics.

Zenith Bank Basketball League semis for today Ifeanyi Ibeh

he semifinals of the ongoing Zenith Bank Women Basketball League will take place today (Wednesday) at the indoor sports hall of the National Stadium, Lagos. In the first semifinal tie, Group A winners and reigning champions of the Zenith Bank Women Basketball League, First Bank of Lagos, who

that includes Dan Ngerem, Aisha Falode, Edo FA Chairman, Frank Ilaboya, Hon. Tom Joel Onowakpor and all Sports Editors and Managers of sports in electronic media outfits. Emuze declared that the event will kick-start many others being planned by the body to honuor illustrious indigenes especially from the former Bendel State, now Edo and Delta, for their contributions not only to their states but sports.

Ogba

are so far unbeaten this season, will take on city rivals and former league champions, First Deepwater. First Deepwater ended First Bank’s dominance of the Zenith bank Women Basketball League by winning the title from 2010 to 2013 before the Elephant Girls reclaimed their position as the country’s number one team last season. Wednesday’s second

semifinal game will see the league’s other unbeaten side, Dolphins, take on the championship’s surprise package, Abuja-based IGP Queens. Meanwhile, after losing its opening two games to First Deepwater and Dolphins, Delta Force of Asaba, on Tuesday defeated Sunshine Angels of Akure 73-58 to record their first win of the playoffs and secure

third place in Group B. Also victorious on Tuesday was the Nigeria Customs team, who defeated Benue Princesses to finish third in Group A. But regardless of her side’s inability to make it to the last-four, Delta Force captain, Ogor Balum, commended the management of Zenith Bank for their consistent sponsorship of the tournament, a deal that is now in its 11th year.

Omeruo completes Kasimpasa move Ajibade Olusean

Ogba reception holds Saturday

he planned grand reception for Athletics Federation of Nigeria (AFN), President, Dr Solomon Ogba by the Edo Sports Media Practitioners, will now hold on Saturday, July 26, in Lagos, according the body’s Chairman, Osaretin Emuze and Scribe Smarts Ebhodaghe in a release. The event which is to celebrate Ogba, over his recent award of a honorary doctorate degree, by the prestigious University of Port Harcourt for his robust contribution to sports development, will hold at Adna Hotel in Ikeja, the Lagos state capital, from 6pm prompt. Expected to chair the event is the Chairman of Channels Television, Mr. John Momoh, while Brila FM boss, Dr. Larry Izamoje, is expected to highlight the dignitaries

Action from the match between Nigeria and Morocco in Madagascar

Omeruo

helsea defender, Kenneth Omeruo, has completed a loan move to Turkish side, Kasimpasa. The Super Eagles defender on Tuesday underwent a medical at the Turkish side to complete a season long loan move. Kasimpasa has an option of making the defender’s stay permanent at the end of the loan deal. The defender announced the transfer on his social media account, Facebook, on Tuesday and wrote that he was ready for the fresh challenge.

Omeruo, 21, joined Chelsea in 2012, but despite moving to the club three years ago, the defender is yet to make a single appearance for the Blues. The Nigeria international has had spells on loan at ADO Den Haag and most recently at Middlesbrough during his time at Stamford Bridge. However, the former Golden Eaglets defender has built an impressive experience on the international stage after featuring for the Super Eagles 28 times, a statistic which reportedly enticed the top hierarchy at the Turkish side.

NPL broadcast right: Total Promotions battles Supersport

he Nigeria Premier League broadcast right owner, Total Promotions Limited, has secured a motion exparte from a Lagos High Court to stop South African satellite television outfit, Supersport, from further broadcasting of Nigeria Premier League matches. In a four-paragraph ruling delivered by Justice W. Animahun of High Court No. 50, TPL was granted the leeway to serve Supersport an originating process at their registered corporate office at 137, Bram Fischer Drive,

Ferndale, Randburg,2194 Guateng, South Africa, via pre-paid courier delivery by DHL International Courier Service or any other similar courier service capable of reaching the defendant. TPL had dragged Supersport to court over breach of contract agreement between both companies over broadcasting of the Nigerian league in Suit No.LD/747GCMW/15. While granting the prayers of the claimant, Justice Animahun gave an order of interim injunction restraining Su-

persport “whether by itself, its servants, agents, assigns, collaborators and or privies from attempting to appoint, review or abrogate the existing right to broadcast or/and telecast the Nigeria Premier League vested in the claimant pending the hearing and determination of the motion on notice herein and/or pending arbitral proceedings.” The court also gave an order of interim injunction restraining the defendant (Supersport) whether by itself, its servants, agents, as-

signs, collaborators and/ or privies from telecasting or broadcasting the Nigeria Premier League matches on any DSTV and GOTV channels or any other channels or broadcasting outfit under the control of or affiliated to the defendant pending the hearing and determination of the motion on notice herein and/or pending arbitral proceedings. The case has been adjourned to July 22 for hearing while the UK leg of the legal battle before Arbitration will soon commence.

International Sport 53

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Pele discharged from hospital

razil legend Pele has been discharged from Hospital Israelita Albert Einstein one week after being admitted for back surgery. The 74-year-old underwent a successful operation in Sao Paulo to correct a trapped nerve which had left him with pain in his legs. It was the third time in a year that the three-time World Cup winner has needed medical treatment after suffering a urinary infection following a bout of kidney stones, while a prostate condition required surgery back in May. The most decorated player in World Cup history and a twotime Copa Libertadores champion with Santos, Pele is said to be in good spirits and will continue his recovery at home.

FIFA Ad-hoc Electoral Committee holds first meeting

F Pele

Pele led Brazil to World Cup glory in 1958, 1962 and 1970 and his country’s all-time leading scorer with 77 goals from 92 internationals.

ollowing its establishment by the FIFA Executive Committee on July 20, the FIFA Ad-hoc Electoral Committee met for the first time Tuesday, July 21, at the Home of FIFA in Zurich. In conformity with article 7 paragraph 2 of the Electoral Regulations for the FIFA Presidency, Domenico Scala was appointed as the Ad-hoc Electoral Committee chairman, with Claudio Sulser – chairman of the FIFA Disciplinary Committee – and Larry Mussenden – chairman of the FIFA Appeal

Davis Cup success team effort - Murray

ndy Murray has described reaching the semi-final stage of the Davis Cup as a “great achievement” for Great Britain. The world number three beat Gilles Simon in four sets at Queen’s Club on Sunday to help secure a place in the final four of the competition for the first time in 34 years. Murray played a big part in things by also earning a victory over Jo-Wilfried Tsonga, while linking up with brother Jamie to see off Tsonga and Nicolas Mahut. However, in his weekly column for BBC Sport, the Scotsman said: “You can’t win the Davis Cup on your own and reaching the semi-finals has been a real team effort. When you consider it’s been 34 years since Britain has got this far, beating a team as strong as France to reach the semis is a

Committee – as its members. The Ad-hoc Electoral Committee will be responsible for supervising the upcoming FIFA presidential electoral process leading up to the elections that are scheduled to take place at the Extraordinary FIFA Congress on February 26, 2016. This includes the correct application of and compliance with all FIFA regulatory provisions, instructing the investigatory chamber of the Ethics Committee to carry out an integrity check of all candidates in accordance with

Blatter

the FIFA Organisation Regulations, and admitting and declaring candidatures.

Mertesacker targets title with Arsenal

er Mertesacker has challenged Arsenal to prove they can be genuine Premier League title contenders this season. But the Gunners vice-captain has also warned his side that they will need to avoid making another slow start to a campaign to stand any chance of maintaining a successful challenge for their first league crown since 2004. A poor start to the 2014/15 season - one which produced only two wins from the opening eight Premier League matches - ultimately cost Ar-

sene Wenger’s side in the title race. They would recover to end as the form side of 2015 on the way to securing third place and lifting the FA Cup at Wembley for the second year running. “We need to be at our best. We have shown in the [FA] Cup that we can be consistent for six games. We want to extend that and show that we are real title contenders from the start, not only in the second half of the season,” Mertesacker told Arsenal Player. “We want to be ready right from the start and not getting as many injuries as last season would be lovely and good for us.”

Murray

great achievement for everybody involved. “Roger Federer is one of the best players to ever play the game, and it took him until last year to win the Davis Cup. He might not have played at every

opportunity, but he needed Stan Wawrinka to step up his game over the last couple of years to help him get there.” Britain will now face Australia on home soil in September for a place in the final.

‘Pedro heading for Manchester United’

Pedro

anchester United have reportedly agreed a fee with Barcelona in the region of £22m for Spanish attacker Pedro. The 27-year-old only recently signed a new long-term deal with the Catalan outfit, but with his chances of first-team football now limited at the Camp Nou, talk of a move away has grown in recent weeks. Chelsea and Man United have

been strongly linked with a move, but according to El Confidencial, the latter has now agreed a deal with the Spanish giants. The same report has claimed that the transfer will be completed this week, with the Spanish international signing a long-term deal with Louis van Gaal’s side. United and Barcelona are due to meet in a pre-season friendly on Saturday.

Bayern can cope without Schweinsteiger, says Lahm

hilipp Lahm has insisted that Bayern Munich will not change their style of play following the departure of Bastian Schweinsteiger to Manchester United. The influential midfielder had been a key figure at the Bundesliga champions over the past decade, yet Lahm is confident they have what it takes to cope without the 30-year-old. “I do not think we will change our style of play because of Schweinsteiger’s exit,” Lahm said at

a press conference. “We have our own style and it does not depend on one individual player. “We have the squad to challenge for top honours again. We have strengthened in certain areas, just like a big club should. “We will see whether this is the strongest team toward the end of the season.” The ex-Germany international went on to stress that he sees Wolfsburg as Bayern’s main rival in the race for the Bundesliga title. “Wolfsburg are obvi-

Per Mertesacker shielding the ball away from Stoke’s Peter Crouch

Balotelli annoys Reds fans, as Sterling scores on debut

Lahm

ously one of our main rivals. And both Borussia Monchengladbach and Bayer Leverkusen are pretty stable as well. “It will be like any other year. We want to win the league and we will see which teams can keep up with us until the end.”

ario Balotelli has enraged Liverpool fans after he congratulated former team-mate Raheem Sterling for scoring on his Manchester City debut. Sterling finally completed an acrimonious £49m move to City last week but took less than three minutes to find the target for his new club in their 5-4 penalty shoot-out win over Roma in the International Champions Cup at the Melbourne Cricket Ground.

Balotelli took to social media and tweeted: “Well done @ sterling 31 ! Best Answer, keep it up.” Sterling, the most expensive English footballer in history, took just two minutes and 17 seconds to open his account for the big-spending English club. He showed his explosive pace to swoop on a defence-splitting pass from Kelechi Iheanacho to leave Roma goalkeeper Morgan De Sanctis flailing and slot the ball into the empty net.

Sport

Nigerian League Rendezvous

Kwara United to go for experience – Sanni

WITH CHARLES OGUNDIYA

charlesog2001@yahoo.com,

08098042287

wara United head coach, Tunde Sanni, has said he will be going for experienced players to beef up the team ahead of the second half of the Nigeria Professional Football League season. Speaking with League Rendezvous on the telephone, the coach said he had a young team and needed experienced campaigners to guide them. “We have a very good team but they lack experience in the league,” Sanni said. “Kwara United will not be going on break like other teams because we have the Federation Cup to play and also an outstanding game. “Immediately we finish with the two games, the technical crew will assess the team with a view to strengthening ahead of the second half.” The former Kwara United captain and coach was elevated to the position of the head coach of the team after the sacking of Tunde Abdulrahman. He won his last two games since becoming the head coach: a 2-1 away win against IfeanyiUbah and a 3-1 defeat of Giwa FC in Ilorin at the weekend.

Ogunbote gets management support

Rangers’ Emeka Eze (left) vying for the ball with Kano Pillars’ James Loute in a recent league game

Akwa United to may quit Nest of Champions

I Sanni

WEDNESDAY, JULY 22, 2015 NEW TELEGRAPH

t has been revealed that Akwa United may be dumping the Akwa Ibom International Stadium, the Nest of Champions, in the second round of the league. According to the chairman of the team, Nse Ube, Akwa United will be going back to Uyo Stadium because playing inside the Nest of Cham-

pions is too expensive. “It is very expensive for us to play at the Nest of Champions,” the chairman said. “We have spent as much as N3.8m to play in that stadium as we need truckloads of diesel to power the generator inside the stadium because the facility is highly computerised.

“We can only play there if we are on the continent because then the Nigeria Football Federation will subsidise our budget.” However, the pitch and dressing room at the Uyo Township Stadium must be upgraded to acceptable standard before Akwa United will be allowed to play there.

hooting Stars General Manager, Rasheed Balogun, has said he will be supporting the coach of the team, Gbenga Ogunbote, in his recruitment drive to strength the team ahead of the second half of the league. Speaking to New Telegraph, Balogun said Ogunbote had shown that he has what it takes to lead the team to the next level. “All the coach needs to do is identify the departments he needs to beef up and I will support him,” the former Sunshine Stars GM said. “The results have improved tremendously since the coming of the coach and the only thing we need to do is support him in his quest to move the team forward. “He should just name the player, and we at the management level, will explore ways to secure the services of the player.” Ogunbote joined Shooting Stars from Sharks and has since lifted the team from the foot of the table to 11th position with 27 points from 19 matches. The coach had earlier admitted to League Rendezvous that he would be looking at some players to beef up the team during the mid-season transfer window. Ogunbote said: “We have been using what we have before now, but hopefully during the transfer window we can get some good players to strength the team.”

ITTF Africa Cup: NSC abandons NTTF

• As Quadri, Oshonaike hit early lead Ajibade Olusesan

with Ajibade Olusesan 0706 537 7853

NCC Tennis League resumes

he high-stakes NCC Tennis League which is offering a prize money of N5million to the winning team resumes this weekend with matches in Port Harcourt and Abuja. The Port Harcourt based Team Kalotari is hosting the CBN Futures Team while Team Tombim is at home to Team Anambra in Abuja. The ties which will comprise four men’s singles, a ladies singles, a mixed doubles and one men’s doubles will be played on Saturday July 25 and Sunday July 26 at the Port Harcourt Club and Abuja National Stadium respectively. The second set of round robin matches will be concluded the weekend of Saturday August 1 and Sunday 2 with the crucial tie between Team FCT and Team Ogun in Abeokuta. Meanwhile, Angel Mcleod, national junior champion, has promised not to lose any more matches from a winning position having failed to convert a match point against 2013 CBN Senior Championship winner, Ronke Akingbade, when they played in the first round in Abeokuta. “I am still hurting from that encounter and training hard to make sure it does not happen again. I am looking forward to meeting Aanu Ayegbusi who is a very defensive player like Ronke.” Mcleod said.

Quadri

igeria Table Tennis Federation is frustrated by the non-release of funds by the National Sports Commission for the prosecution of the on-going International Table Tennis Federation African Senior Cup in Yaoundé, Cameroon. New Telegraph reliably gathered that efforts of the federation to obtain funds from the commission were unsuccessful and it had to source for money elsewhere to attend the tournament. A reliable source told our correspondent that, “we just managed to attend the tournament because the federation could not get money from the sports commission. In fact, it is one of

the reasons Segun Toriola withdrew from the tournament. The president tried his best to make sure we present a team at the tournamenat.” Meanwhile, Nigerian players opened their campaigns with victories. ITTF Star Player of the Year, Aruna Quadri, defeated homeboy, Dinayen Clarence, 3-0 men’s in his first men’s singles group 3 match. His compatriot, Kazeem Makanjuola, repeated the same margin of victory over Nyoh-Ofon Derek also of Cameroon in Group 2. In the women’s singles, ageless Funke Oshonaike beat Laid Islem of Algeria 3-0 while Atinuke Olaide could not make it to the tournament on time for her first match against top seed, Meshref Dina.

Serena takes one week off to rest injured elbow

op tennis star, Serena Williams, will rest for a week after withdrawing from the Swedish Open due to an elbow problem but is confident the injury will not derail her preparations for the US Open. Williams, who will bid to complete a rare calendar grand slam at Flushing Meadows, withdrew ahead of her secondround match against Klara Koukalova after sustaining the injury during practice. “As much fun as we have been having the past eight or so weeks I have to take some time

to let my elbow heal,” Williams said in a post on her Facebook page. “I am confident it will be ready for the rest of the summer. I need some time to recover and let it heal, but as of now I am being forced to take the next week off.” The 33-year-old, who won her sixth Wimbledon singles tennis title this month, is scheduled to defend her title at Stanford from August 3 and play the Rogers Cup in Toronto the following week ahead of the US Open, which starts on August 31.

Serena

Interview 55

NEW TELEGRAPH WEDNESDAY, JULY 22, 2015

Squash, best sport for fitness – Akinfenwa For 11 years, Shina Akinfenwa’s Cargolux Merchant Express has sponsored a national squash tournament among all recreational clubs in Nigeria and has now included under aged male and female categories. He spoke to journalists on the growth of the tournament from a three-club affair to its present 16-club format. CHARLES OGUNDIYA was there. How do you cope with your tasking job and sport? Well, it was not easy as an airline pilot but now I’m retired and now Managing Director of Cargolux Merchant Express I try to create time for sport because I need it for good living generally. I’m just one simple guy taking life easy. I have a deep passion for squash. What has been the motivation behind sponsoring the annual Cargolux Merchant Express Squash Tournament? The main motivation is to give back to the society, to encourage young players to play squash. I have found a lot of reward playing the sport for upwards of three decades now and still playing very actively. I am very fit. And that is the message. For folks to see active, regular engagement in squash as something to embrace in order to keep fit and healthy as we grow old. And for the young ones to imbibe the habit; we have since included the U-15 and U-19 boys and girls categories. And for the 11th year running? And why not? When you find joy in doing something, you just find yourself continuing forever. Sponsoring this tournament has been one worthy venture we at Cargolux continue to be thankful for. When we started 11 years ago, truly we didn’t know we would be here today as sponsors of clearly the most popular and prestigious squash tournament in the land, and our

company is proud its name is associated with it. Why squash, to start with? Squash, is easily the most exciting sporting activity you can have. Most of the other sports are dull. I’m sure there are people who may not agree with that assertion. Well… That is my personal opinion borne from my experience playing the game for such a long time. After 10 years of organising this tournament, what are the challenges and the impact of the event? The organisers are usually the squash section of the Lagos Country Club headed by the chairman. They are the organisers, we are just sponsors. I cannot say much about the challenges because even if there were challenges, they did not make them known to me, which means that whatever challenges may have come up, were attended to professionally but over the years, the organisers have made a lot of improvements. How has the tournament helped to make the sport more widely known amongst Nigerians? It is obvious. When we started 11 years ago, we had only three clubs participating, now we have 13, and sometime in the past, up to 16 clubs. We have introduced the U-16 and U-19, the professional league, the classic and so many others. Right now, all squash players in the country attend the Cargolux Merchant

Captain Shina Akinfenwa (middle) assisted by wife, Chioma (left) making a presentation to last year’s winner, Tunji Agbeleye of Unilag Squash Club, during the final of the 10th Cargolux Merchant Express Squash Tournament

The main motivation is to give back to the society, to encourage young players to play squash

Express Squash Tournament.

courage my kids to play.

This is the 11th edition. What are the new features? Like I told you, we are introducing the junior players, the U-16 and U-19, the classic which is the professionals, apart from the regular players. So it’s actually expanding. In Nigeria today, the junior players of about 10 years ago have advanced to become professionals. We are actually making progress.

Is there hope for people who didn’t start the game early, people in their 30s and 40s? Yes there is. Anyone can play, but will be introduced to the sport gradually. Anyone can play, so long as they are physically fit and don’t have a medical encumbrance.

What will you say to those who have shown interest in squash and those who don’t know what it’s all about? I will encourage them to come around. There were five and sixyear-old who played in our U-9 category about three years ago. We had a squash clinic. They came and were introduced and they have evolved. We run an open house Monday to Saturday. They can come around. Even parents who have children who are interested can bring them around. We encourage them. I en-

Any plans to take this competition international, and invite foreign squash players to compete? We tried that in the past. At this point, we do not want to compete with Nigeria Squash Rackets Association. We are just doing our own thing. This is not a government thing, it’s purely a private initiative. If we want to invite foreign players, then we will have to go through the NSRA, unless of course the players are coming on their own privately. But at this moment, we want to consolidate on our games internally. Like they say, charity begins at home.

Jules Bianchi: Formula 1 bids farewell at driver’s funeral

Bianchi

he world of motorsport has bid farewell to French Formula 1 driver Jules Bianchi at his funeral in his hometown of Nice. World champion Lewis Hamilton and many of Bianchi’s colleagues joined family and friends at a service in the city’s cathedral while fans gathered outside. The 25-year-old died on Friday from head injuries he

sustained in a crash at the 2014 Japanese Grand Prix. His car number, 17, is being retired from F1 in his honour. Bianchi had been in a coma since crashing his Marussia car into a recovery vehicle at a rain-hit race last October. He is the first F1 driver to die from injuries sustained in a grand prix since Brazilian triple world champion Ayrton Senna was killed at the San

Marino Grand Prix in 1994. A number of Formula 1 colleagues travelled to Nice to pay their respects on Tuesday. Large posters of Bianchi were draped outside the cathedral entrance. Sebastian Vettel, the four-time world champion, and F1 Lotus driver and fellow Frenchman Romain Grosjean helped carry Bianchi’s coffin after the service. Other drivers who attended included Nico Rosberg, Felipe Massa, and Olivier Panis. The Eagles’ 1970s anthem Hotel California played in the background as the proceedings got under way earlier in Nice, according to AFP news agency. The cathedral priest, Father Sylvain Brison Mourners, told the congregation that Bianchi was “a champion blessed with a rare talent”, and mourners applauded the late driver for several minutes.

Announcing his death on Saturday, Bianchi’s family said: “Jules fought right to the very end, as he always did, but today his battle came to an end.” Former world champion Jenson Button led tributes from the world of motorsport. “Last night we lost a truly great guy and a real fighter. RIP Jules, my sincerest condolences to his family and friends,” the McLaren driver said on Saturday. The Marussia team, now known as Manor, said Bianchi had left an “indelible mark on all our lives”. The accident happened when Bianchi’s car slid off the wet Suzuka track and into a crane picking up the Sauber of German driver Adrian Sutil, who had crashed at the same spot one lap earlier. He suffered massive head

injuries and was treated in intensive care in Japan before being transferred to a hospital in Nice in November. The 25-year-old competed in 34 races during the 2013 and 2014 seasons, scoring the firstever championship points for the Manor-Marussia team by finishing ninth at last year’s Monaco Grand Prix. He is the latest driver to die as a result of a F1 racing accident. F1 reserve driver Maria De Villota died in 2013 as a consequence of injuries she suffered 15 months earlier in a crash while testing for Marussia in Cambridgeshire in the UK. Brazilian motor-racing legend Ayrton Senna was killed when his car ran wide at a curve and crashed into a concrete wall at the San Marino Grand Prix at Imola, near Bologna in Italy, in 1994.

On Marble We all create the person we become by our choices as we go through life. In a real sense, by the time we are adults, we are the sum total of the choices we have made.

Sanctity of Truth

World Record

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

– Eleanor Roosevelt

WEDNESDAY, JULY 22, 2015

N150

The heaviest person in medical history was Jon Brower Minnoch (USA) (1941–83), who had suffered from obesity since childhood. He was 185 cm (6 ft 1 in) tall and weighed 178 kg (392 lb or 28 st) in 1963, 317 kg (700 lb or 50 st) in 1966 and 442 kg (975 lb or 69 st 9 lb) in September 1976.

Subversion through voters registration

igerian political parties and some elements within the political elite pay serious attention to the registration of voters. This is understandable because regime change through the electoral process is one of the pillars of constitutional democracy and this can only occur through the ballot box. Registration and being on the roll may be symbolic but it gives meaning to and life to section 14(2)(a) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) that domiciles sovereignty with the people of Nigeria from whom government through the Constitution derives all its powers and authority. The affirmation of the power of the people expressed through their votes though important to some political parties, candidates, aspirants and politicians may not always be the reason why some of them pay undue attention to the question of registration of voters. Sometimes, unwholesome considerations and permutation that may be scandalous and subversive of the electoral process may be paramount. Voters Registration in Nigeria is a constitutional and legal imperative required for the conduct of elections covered by the Constitution. The Third Schedule to the Constitution 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. The Electoral Act, 2010 (as amended) also empowers the Independent National Electoral Commission to conduct the registration of persons qualified to vote in any election covered by the Act. Section 9(1) of the Electoral Act also mandates the Commission to compile, maintain and update, on a continuous basis, a National Register of Voters which shall include the names of all persons entitled to vote in any Federal, State or Local Government or Area Council elections. Political Parties, aspirants, candidates and political thugs or “electoral facilitators” know that the spinal cord of the electoral process is the registration of voters. They know that names must be on the register of voters for them to manipulate it and use it for whatever designs they have. They know that they will only be in a position to influence the outcome of any election if they have physical or remote control of the voters register. They know that who registers and who does not register as a voter is critical to the outcome of any election. Based on their understanding and appreciation of the fundamentality of the voters register in electoral dynamics and outcome, some political parties, aspirants, candidates and political thugs or “electoral facilitators” devise special means and mechanisms on how to beat, bypass, manipulate or undermine any new innovation, special features or improvements on the credibility of the voters register. They therefore think ahead and make their own preparations and projections ahead of the electoral management body. Professional election riggers are creative, strategic, tactical and innovative.

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only) The Conduct of Multiple Registrations Before the introduction of the Modified Open Ballot System, some politicians and Political Parties carried out multiple registrations of their core loyalists. On Election Day, they simply moved from one polling unit to the other voting. They had the antidote to the indelible ink used by the electoral management body which in some instances can be erased with ease. The Modified Open Ballot System confined multiple registrants to one polling unit and rendered this method almost obsolete. Communal Registration In some communities political parties do not matter during the registration of voters. Sons and daughters of some communities in the Diaspora are registered whether they are around or not.

Jega

They are never static and their modus operandi depends on the nature of the election, the terrain, the level of technology employed by the Independent National Electoral Commission, the issues in the election, the level and quantum of funds available to them and the character of personnel employed for the registration process among other sundry matters. The Registration of Under Aged Voters The most pernicious form of rigging employed by professional election riggers and which is very difficult to stop in the absence of an authentic births and deaths registry is the registration of under aged persons with the active connivance of politicians and community leaders. In some communities and constituencies every under aged voter is 18 years old. In some communities every young girl that is married is eligible to be registered as a voter and the Registration Officers who may not understand the culture, religion, ethnic configuration and political nuances of a particular area or community are always very reluctant to engage in arguments relating to such issues. In other areas, it is accepted that those who are between the ages of 13 and 18 are eligible voters and some community leaders are always around the registration centers to enforce compliance. Ghost Registration Some politicians hijack registration officers and registration materials and use calendars and every conceivable material to carry out registration. Sometimes one single individual will register as many times as possible wearing a cap in one, wearing glasses in another, wearing a shirt in one, wearing a suit in another and other sundry creative means.

Fictitious Registration Centers The creation of fictitious Registration Centers allows crooked politicians in connivance with some staff of the Electoral Management Body to carry out registration in their houses and sometimes in forests and other places not known to the law. ‘Enemy Territory’ Registration Some politicians carry out demographic mapping of their constituencies and “areas of interest”. Based on this mapping, they know their areas of strength, their catchment areas, areas of weakness and hostile environments. During voters registration they create a budget line and items that will be used to compromise registration officials. Sometimes they make sure that more materials are sent to their catchment areas or territories they have kidnapped. Buying up of Voters Cards Some of the Political Parties and politicians have a good knowledge of the demography of their areas. They buy up the voters cards in the areas they consider as not being their strong base.

“grassroots” politicians with local foot soldiers direct registration officers to the ‘appropriate places” and or assist in the registration exercise or carry out the registration. Automatic Finger Identification System The Independent National Electoral Commission used the Automatic Finger Identification System (AFIS) to weed out some multiple registrants. This to a certain extent improved the credibility of the voters register. Unfortunately, there is still a huge disparity between huge voter turnout during elections and the percentage of voter’s turnout. The Smart Card Readers The Independent National Electoral Commission introduced the Smart Card Readers for the 2015 elections. This threw some of the politicians off guard. But some of them recovered and faced the challenge headlong. Some sought to prevent the use of the Smart Card Readers through sustained propaganda. Some undermined its use and insisted on and persisted with their old ways. Some contemplated sourcing for or attempted to source for alternative Card Readers. Some toyed with the idea of training fake Presiding Officers on the use of the Smart Card Readers. The Way Forward The Independent National Electoral Commission must improve the technology of the Smart Card Readers. As at now there is no correlation between the verification and authentication of the voter’s cards and the ballot papers that are used for voting. The Permanent Voters Cards must be aligned with the Smart Card Readers and Voting Machines. INEC must also intensify efforts aimed at cleaning up the current voters register. Massive voter education and continuous voter registration as opposed to ad-hoc and episodic registration are the way to go. With electoral vigilance and improved technology the rigging of elections may no longer be fashionable.

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Cordoning off of Territories Sometimes political parties cordon off territories in areas where they consider as their strongholds. They compromise those they can compromise during the voters registration exercise using security agents, strong arm tactics, obscene resources and their “skull crackers”. Mapping out of Difficult Terrain Sometimes, the electoral management Body is unable to map out difficult terrains and this puts a lot of strain on registration officials. Sometimes, registration officers and their supervisors are not grounded on the local peculiarities and demographic challenges of some states and communities. Based on this,

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