Wednesday, july 29, 2015 binder2 by Newtelegraphonline

EFCC grills Saraki's wife for six hours

politics

NERC set to revoke 27 power firms' licences

Buhari lReps ask commission to stop fixed electricity billings presidency, he Nigerian Electric- plain why their licences the companies. Abba Arabi, NERC disJohnchuks Onuanyim ity Regulatory Com- should not be revoked. According to a state- covered during the audittwo months and Philip Nyam mission (NERC) has NERC gave the deadline ment by the Head, Public ing that the affected firms Abuja given 27 power generation after a completion of an Affairs Department of the could not meet the terms }9 after companies 30 days to ex- audit of the activities of commission, Dr. Usman

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Wednesday, July 29, 2015

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Dogara backs down

lNames Gbajabiamila majority leader }2,3 lSenators pass vote of confidence on Saraki

L-R: Sultan of Sokoto, Alhaji Sa'ad Abubakar; Sokoto State Governor, Hon. Aminu Tambuwal and Catholic Bishop of Sokoto Diocess, Rev. Matthew Hassan Kukah, at the 50th annual general meeting of the Surveyors' Institute of Nigeria in Sokoto...yesterday.

Troops stop Boko Haram bid to overrun army chief 's hometown }2

News

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Dogara backs down, names Gbajabiamila majority leader Philip Nyam and Johnchuks Onuanyim Abuja

fter 49 days of disagreement and intrigues, House of Representatives Speaker, Hon. Yakubu Dogara, yesterday finally succumbed to the directive from the All Progressives Congress (APC) that his main challenger for the speakership, Hon. Femi Gbajabiamila, should be majority leader. Dogara, at a plenary in Abuja, announced Gbajabiamila, along with others as principal officers. The speaker also appointed Hon. Alhassan Ado Doguwa as chief whip; Hon. Buba Jibril as deputy leader and Hon. Pally Iriase as deputy whip. With the appointments, Dogara has been able to accommodate three lawmakers from the Gbajabiamilaled APC Loyalists Group. Only Jibril belongs to the Consolidation Group led by the speaker. Also announced yesterday were the Minority Leader, Hon. Leo Ogor; Minority Whip, Hon. Umar Yakubu Barde; Deputy Minority Leader, Hon. Chukwuka Onyeama and Deputy Minority Whip, Hon. Binta Bello. The appointment of Gbajabiamila and his loyalists as principal officers has ended the protracted crisis that has forestalled sittings of the House for over a month. The House has sat for only six times since its inauguration on June 9. Dogara had chosen his principal officers based on federal character and rejected the anointed candidates of the APC. The speaker had proposed Doguwa as leader, Iriase as chief whip, Jibril as deputy leader and Chike Okafor was to be deputy chief whip. But the party insisted that Gbajabiamila must be leader, Doguwa as deputy leader while Mohammed Monguno should be deputy chief whip and Iriase as chief whip. The controversy over the appointment of principal officers led to the freefor-all that occurred on the floor of the House on June 25, which forced the House to adjourn plenary until yesterday. The insistence of the speaker to stick to his list generated so many crises amongst the APC members, necessitating President Muhammadu Buhari to call for a peace meeting between the warring factions on Monday night where the issue was eventually resolved. At yesterday’s plenary,

Dogara could not make the announcement until the last moment before the adjournment of the House. While he was presiding, some of his loyalists had, at different times, gone to confer with him. Towards the end of the plenary, the speaker handed over to his deputy, Hon. Yusuf Lasun and left the chambers, but returned some minutes later to announce the principal officers. Earlier in his welcome address to his colleagues, Dogara regretted the unfortunate development that led to the free-for-all amongst members and apologised to Nigerians. “When we departed for this recess, it was not in the most honourable of circumstances for which I had cause to apologise to Nigerians on their behalf. “Today as we resume, I am not ashamed to once again reiterate our unreserved apologies to the people of Nigeria for that unfortunate incident and promise that we shall be the vibrant House of the Nigerian people that we are. “The Eighth Assembly has a very crucial role in the political history of our dear country: we are saddled with the responsibility and special privilege to midwife the first government of complete democratic transition in which an opposition party has assumed the realm of government, the first in our political experience. “We are a product of an overwhelming mandate of change from the people of Nigeria. Indeed, we are called to national service

at a time when public expectation for good governance is at its peak and the people's patience with government is on the edge. “I make bold to state that if the public expectation on previous legislatures was 100 per cent, then the expectation on this Eighth Assembly must be anything but not less than 200 per cent! Therefore, we can neither afford to abuse the confidence reposed in us nor can we dare to expose ourselves to the cruel judgment of history,” the speaker said. Chairman, House ad hoc Committee on Media and Public Affairs, Hon. Sani Zoro, said with yesterday's announcement of

the principal officers, all the problems that caused the crisis in the House had been resolved. He said: “What transpired today is the triumph of internal democracy of the House and this triumph is anchored on four factors. It is anchored on patriotism, constitutionalism, reason and rationality. This is what guided the steps taken by the entire House of Representatives laid by its leadership and all the contending groups that were party to the various negotiations.” Reacting to his eventual emergence as majority leader, Gbajabiamila welcomed the turn of events, describing his appoint-

ment alongside two of his loyalists as “democracy in action”. He said: "What you saw in the last 49 days was actually democracy in action. That's what politics is all about: everybody trying to outwit everybody for the greater good of the country. And I’m glad that everything has panned out the way it has panned out. You will now see the House you knew in the last four years back in action, working for the people, working for the nation." Gbajabiamila later visited the APC national secretariat in Abuja to thank the National Chairman, Chief John Odigie-Oyegun, who signed the letter

to the House proposing Gbajabiamila as majority leader. Odigie-Oyegun commended the speaker and his team for their sense of patriotism. On how the party would resolve the crisis in the Senate, he said: "The Senate situation is a different situation. It is totally different because we have a sore thumb in the form of a PDP Deputy Senate President. "So, I think it is totally different and the approach and the way we are going to handle the situation will be totally different. But at the end of the day, even the Senate issue will be sorted out too."

Former Lagos State Governor, Senator Bola Tinubu (left) and President Muhammadu Buhari, during Tinubu’s visit to the president in Abuja… yesterday. PHOTO: TIMOTHY IKUOMENISAN.

Troops stop Boko Haram bid to overrun army chief's hometown Anule Emmanuel and Emmanuel Onani Abuja

igerian troops have foiled two separate attempts by suspected Boko Haram fighters to overrun Buratai, hometown of the Chief of Army Staff (COAS), Major General Tukur Buratai. A similar attempt on a military camp located in Buratai, Borno State, was also frustrated. A statement by the Acting Director, Army Public Relations (DAPR), Col. Sani Usman, said after being repelled by troops about 9:30pm on Monday, the fighters regrouped and later made another unsuccessful attempt at 3a.m. yesterday. These attempts were the third in a week, as the town was reported to have come under attack

last week, where at least two persons were said to have lost their lives. Usman said: "This is to inform the public that at about 9:30pm on Monday, suspected Boko Haram terrorists made a futile attempt to attack Buratai town, Borno State and the military camp located in the area. "I am glad to inform you that the gallant soldiers rose to the occasion and dealt with the terrorists. They, however, made concerted effort at about 3a.m. on Tuesday, which was equally repelled by the gallant soldiers. "The situation and town is cool and calm." However, the insurgents killed about 25 people in raids on three communities in Borno State, military and police sources said. Fighters in pick-up trucks attacked Dille and two smaller communities

in the Askira/Uba area of the state. Vigilantes resisted the attack on Dille that came around 1p.m., the sources said. A police source, who declined to be named, said the attacks on the smaller nearby communities came early yesterday. Meanwhile, there are indications that the Nigerian Army may discontinue cases of some officers and soldiers currently before the General Courts-Martial (GCMs) sitting at the Army Headquarters (AHQ) Garrison in Abuja as well as the one at the 81 Division, Lagos. New Telegraph's investigation revealed that only cases bordering on the main operations such as desertion and cowardice may be discontinued, while alleged criminal offences such as rape, mur-

der and would continue. New Telegraph further gathered that the Army may be considering setting up a committee to review cases that may have been concluded, with a view to possibly re-absorbing some dismissed officers and soldiers. The possible re-absorption, it was learnt, would only come after the yet-to-be established committee had reviewed their cases and resolved that they could be re-absorbed. A source said those to be reabsorbed were those that would be considered to still be active and willing to serve. He added that the possible re-absorption would follow after intensive retraining of the officers and soldiers that will be considered. He said: "It appears the Army may order the discontinuance of court

martial of those officers and soldiers whose cases have to do with strictly military operations in the North-East. "Please, get it right: the discontinuance, when it is officially communicated, would not affect cases with criminal intent such as murder, rape, burglary, theft and other criminal cases." Since the GCM began sitting at the Army Headquarters Garrison, it has sentenced more than 50 soldiers to death by firing squad while others got lighter sentences. A few accused officers and soldiers have also been discharged and acquitted, after the prosecution failed to prove the cases against them. Efforts to get official reactions from Usman were unsuccessful as at press time, as he was yet to respond to messages sent to his phone.

News

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Senators pass vote of confidence on Saraki lBuhari writes lawmakers to confirm service chiefs lCourt refuses application to stop Senate president

Onwuka Nzeshi, Chukwu David and Tunde Oyesina

enate President Bukola Saraki yesterday survived yet another attempt by the All Progressives Congress (APC) senators opposed to his election on June 9 as the presiding officer of the Red Chamber to undermine his leadership as his colleagues passed a vote of confidence on him. This came as Saraki tactfully navigated the sensitive curves in the power game to announce the leadership of the minority party in the legislature, the Peoples Democratic Party (PDP) amid opposition from APC senators. Besides, he read out to the Senate a letter from President Muhammadu Buhari seeking the confirmation of the service chiefs. But the fireworks started as soon as Saraki read a letter from the Deputy Senate President Ike Ekweremadu, which conveyed the decision of the PDP Cau-

cus on the composition of principal officers from the minority party. According to the letter, the PDP Caucus had endorsed Senator Godswill Akpabio as the minority leader; Senator Emmanuel Bwacha as deputy minority leader, Senator Philip Aduda as minority whip and Senator Abiodun Olujimi as deputy minority whip. However, Senator Kabiru Marafa (Zamfara Central) raised two points of order. In the first point of order, Marafa, citing Order 13(1) of Senate Standing Rules 2015, observed that on June 9 when the Senate was inaugurated, the plenary ought to have held between 2pm and 6pm but rather, the Senate commenced plenary as soon as the Clerk of the National Assembly read the proclamation letter from the president. He said while the proclamation was legal and in line with the rules, every other thing, including the oaths taken on that day, were null and void. Raising the second point

of order, Marafa hinged his argument on Order 3(3) of the Senate Standing Rules 2015. He said going by the relevant rules, the choice of principal officers of the Senate ought to follow the rule of ranking in which case people are chosen based on their seniority and considering their cognate experience in the legislature. But he added that the nomination of Akpabio did not follow the rule and should be declared a nullity. Saraki noted the observations of Marafa on the sitting hours of the Senate and pledged to draw the attention of the bureaucracy of the parliament to it. He, however, frowned on what he described as an attempt by Marafa to introduce some extraneous issues into the argument on sitting hours and consequently ruled him out of order. On the second leg of the point of order, Saraki directed Ekweremadu who wrote the letter from the minority caucus to respond to the issue. Ekweremadu

said while the argument of the ranking rule was cogent; the Standing Rules of the Senate did not preclude any senator from holding any leadership position. According to him, it is entirely the business of the minority caucus to choose whom they want as their leader. Based on these explanations, Saraki said the point of order raised by Marafa was akin to "an outsider weeping more than the bereaved" and ruled him out of order. Later, Senator Samuel Anyanwu moved a motion, which he said was backed by 81 out of the 109 senators for a vote of confidence on Saraki. New Telegraph observed that the 81 senators who backed the motion comprised 35 senators from APC and 46 from PDP. In the lead debate, Anyanwu expressed dismay at what he described as the continued harassment of the Senate, senators, the management of the National Assembly and spouses of senators by security agencies. He said

in view of the sustained interference in the internal affairs of the Senate by "detractors," there was an urgent need to pass a vote of confidence on Saraki and the Senate leadership. The motion called on the police force and all other security agencies not to allow them to be used to harass, intimidate or blackmail the Senate, senators and their spouses. The motion was unanimously adopted by the Senate without any dissenting voice. Also yesterday, Saraki named Senator Barnabas Gemade as the Chairman of the ad hoc Committee on Ecological Disasters and Bad Roads. Gemade was the leader of the Senate Unity Forum, the group loyal to Senator Ahmed Lawan, Saraki's main challenger for the Senate presidency. The appointment of Gemade followed the adoption of two motions on the state of disrepair of some major roads in Akwa Ibom State and landslide in parts of Isiukwuato and Arochukwu Local Government

L-R: Former British High Commissioner to Nigeria, Mr. Richard Gozney; wife of the Senate President, Mrs. Toyin Saraki; Managing Director, Green Park Organisation, Ms. Dawn Spetale and Director, Green Park Organisation, Mr. Roger Russell, during a visit to Mrs. Saraki in Abuja…yesterday.

Reps urge Buhari to gazette Jonathan's handover notes Philip Nyam Abuja

he House of Representatives yesterday asked President Muhammadu Buhari to gazette and publish handover notes handed to him by former President Goodluck Jonathan to assess the veracity of claims by the present administration that it met an “empty treasury.” This followed the adoption of a motion moved by Hon. Uzoma Nkem Abonta (Abia, PDP) titled "Need for publication of

the handover note of the administration of former President Goodluck Ebele Jonathan in the official gazette of the Federation." While leading debate on the motion, Abonta specifically demanded the publication of the handover notes in the official gazette of the federation, arguing that Nigerians have the right to know the projects, programmes, achievements and constraints of the past administration to guide them in rating the incumbent government. He argued that if the

handover notes were not made public, Nigerians may continue to rely on rumours and speculations regarding things that were captured in the handover notes given to President Buhari. According to the lawmaker, he was "worried that members of the National Assembly, most of whom are new to the legislative business, require authentic information to ascertain the actual state of the nation without which they may not be able to perform their legislative functions effectively."

The lawmaker argued that he was "aware that the handover note is a public document and that some extant laws may place restrictions on the publication of some contents of the document. Notwithstanding any such legal restrictions, it is apparent that only officials of the Presidency have access to the handover note at the moment”. In his contribution, Hon. Pally Iriase (APC, Edo) urged his colleagues to reject the motion on the ground that issues raised in it were not what Nigerians were

concerned about at the moment. He asked the author of the motion or any other person interested in the handover note of former president to take advantage of the Freedom of Information Bill (FoI) and access it. Gbajabiamila, however, later made a U-turn and declared that he was in support of the motion. Marshalling out reasons for supporting the motion, Hon. Leo Ogor (Delta, PDP) insisted that Nigerians deserve to know what the former government left in place.

Area of Abia State. In the course of the debate, Senator George Akume (APC Benue North West) called on the Senate to support Buhari in recovering all stolen funds, which could be channelled to the reconstruction of federal roads. Similarly, Ekweremadu stressed the need for all stakeholders to help recover funds meant for the reconstruction of dilapidated roads across the country. On the second motion sponsored by Senator Mao Ohuabunwa and 15 others, the Senate was told of a landslide, which occurred recently in Abia North Senatorial District following a downpour. In the lead debate, Ohuabunwa said many of the affected communities had been cut off from the other parts of the state while economic activities had been disrupted. Thereafter, a 12-man committee, led by Gemade, was constituted to look at the details of the two motions and come up with suggestions on how to tackle them. The committee was mandated to present its report to the Senate within two weeks. Meanwhile, the Federal High Court sitting in Abuja, yesterday refused the application seeking to stop Saraki from performing the legislative duties as the Senate president on the grounds of the use of the allegedly forged Senate Standing Rule 2015 for his June 9 election in the Senate. Plaintiffs in the suit, Senators Abu Ibrahim, Kabiru Garba Marafa, Robert Ajayi Boroffice, Bareehu Olugbenga Ashafa and Senator Suleiman Othman Hunkuyi had through their counsel, Mamman Mike Osuman SAN, approached the court via an ex-parte application seeking to stop Saraki from constituting the Senate Standing Committees. Joined as plaintiffs in the suit are the Senate President, the Deputy Senate President, the Clerk of the National Assembly, the Clerk of the Senate and the Senate. Ruling on the ex-parte application, Justice Gabriel Kolawole held that there was nothing urgent in the plaintiffs' requests. He said the Senate Standing Order 2015 being considered forged by the five plaintiffs had no substantial infraction on the 1999 Constitution to warrant court’s intervention. Justice Kolawole refused the application and adjourned till August 5.

GE 4

News

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Buhari needs 100 days honeymoon –Tinubu Anule Emmanuel Abuja

ormer Lagos State governor and leader of the All Progressives Congress (APC), Senator Ahmed Bola Tinubu has called on Nigerians to allow President Muhammadu Buhari enjoy what he described as a honeymoon period of at least 100 days in office. The APC leader said this period would be used as a time to effectively plan before final take off that could witness tremendous progress in terms of policies and project implementation. Tinubu stated this yesterday while speaking with State House Correspondents after a meeting with President Buhari at the presidential villa, Abuja. Asked why it was taking President Buhari too long to take actions that satisfy the expectations of Nigerians, Tinubu said: "Excuse me! Let us calm down here. How long ago? May 29 was when this president was sworn in. "It is an international norm all over the world, there is a honeymoon period; at least minimum

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of 100 days honeymoon. And you won't allow honeymoon at all? You said change is not coming, change is not by magic, it is driven by the people, the spirit, the character and the planning. "You see, we have had so much problem in this country in the past because we run into policies blind folded without adequate and effective planning you don't have results unless you plan well.” According to him, "The time it takes you to plan, examine, rejig, re-evaluate is more important than the time you just rush into taking action because you are either being sentimental, emotional and being driven by other forces that are not expected. Is not fair to jump into those conclusions." "There must be time to plan, to review and even listen to people. There is a separation between a campaign period, articulating your vision, expressing the promises to Nigerians, there is a time to look holistically at what you inherited, analyse, distil and then take action. Even in 100 meters race, there is a time to say on your mark, set, ready, go. So, you don't

even want a time to be on your mark, set and go? No no no. You are not being fair," the APC leader added. Tinubu explained that he was at the presidential villa to confer with the president to ensure that the party was on track with most of its decision being taken at the level of the presidency. "The purpose of this visit is to see my president

and our leader. The purpose is to ensure that we are on the right track and coming back from a very successful trip to United States of America,” he said. Commenting on Monday's peace meeting between the president and APC House of Representatives members, Tinubu said it was untrue that the interaction did not yield any result as widely re-

and conditions for their licences. He said: "Contained in the notice are 63 generation and distribution companies rated as category one. They are in operations and have no issue with the commission. Forty other firms in categories one to four will, however, have to justify their continued ownership of their licences or get it withdrawn within the next 30 days to 12 months. "In category two are those licensees that have ceased operations. These are CET Power Projects been promoted by West African Portland Cement Company, Ewekoro, Ogun State and Contour Global Solutions of Nigeria Bottling Company of Apapa, Lagos State. "The commission in its notice is to immediately “start the process of cancellation of these licences in line with clause 17 of the Electric Power Sector Reform Act of 2005” which listed five conditions for cancellation of licences." According to the commission, 13 other power generation companies in category three were not in operations but had satisfied the terms of their licensing. It listed companies in this category to include Ethiope Energy; Supertek Nigeria; Mabon Energy; Bresson AS; Hudson Power; Knox J & L; Tower

step in once in a while as he did to let people to understand the import of the expectations of the public and particularly of the international community on various programmes and institutions. "We need to build the institutions, make it viral and effective for the entire country. To step in to douse any conflict is not a wrong thing. Or do you think is wrong?”

L-R: Former Mayor of the City of London and Co-Chair, Emerging Capital Market Taskforce UK/Nigeria, Sir Roger Gifford; Lagos State Governor, Mr. Akinwunmi Ambode and President, The Nigerian Stock Exchange (NSE), Mr. Aigboje Aig-Imoukhuede, at a press briefing in Lagos…yesterday.

Reps ask commission to stop fixed electricity billings CONTINUED FROM PAGE 1

ported in the media. "That is the conclusion of the press. Deadlock if we are going for literally translation that is people's opinion. I have not read any comment from the parties whether it was deadlock or not; that is the media conclusion. "As a matter of fact when the National Assembly job starts, the job of lawmaking in earnest, the president needs to

Power, Abeokuta; Zuma Energy Nigeria transferred to Itobe Coal 1, 2, 3 and 4 firms It said those in this category would “be required to satisfy their outstanding milestones and start construction within the next 12 months, failure which the commission will commence the process for withdrawal of their licences in line with clause 18 of the NERC Application for Licences (Generation, Transmission, System Operations, Distribution and Trading) Regulations, 2009.” In the fourth category are five power generation firms that “are not in operations and have not substantially satisfied their milestones.” NERC gave the companies 30 days to show why their licences should not be cancelled. The affected companies include ICS Power; Anita Energy; Ibafo Power Station; Minaj Holdings and Gateway Electricity. It said other 20 electricity generation firms in category five were “not in operation and are not submitting quarterly reports to the commission.” They would be required to, within 30 days, provide justification for their licences or get it revoked, it added. The commission, in its notice, said: “Licensees listed in categories two are hereby notified of the

intention of the commission to commence the process for the cancellation of their licences on the grounds that the licensees have ceased operations. "Those in categories four and five are notified of the intention of the commission to commence the process for the withdrawal of their licences on the grounds that these companies have failed to commission their licensed generating power stations within three years from the date of their licences.” Licensees in categories two would only be notified of the Commission’s intention to cancel their licences, while those in categories four and five have 30 days moratorium to convince the commission against the withdrawal of their licences, NERC stated, adding that firms in category three have 12 months moratorium to start construction. Meanwhile, the House of Representatives yesterday directed NERC to immediately enforce the abolishment of fixed charges being collected from electricity consumers. The resolution followed the adoption of a motion introduced by Hon. Philip Shuabu (Etsako East /West Central). The House also resolved to probe what it called, "an exploitation of consumers by electricity distribution companies in the country."

Buhari leaves for Cameroon with six govs Anule Emmanuel and Emmanuel Onani Abuja

resident Muhammadu Buhari will today depart Abuja for a twoday visit to Cameroon in continuation of his effort to build a more effective regional coalition against Boko Haram. The president is being accompanied on the visit to Yaounde, the Cameroonian capital, by six state governors. A statement by the Special Adviser on Media and Publicity, Mr. Femi Adesina said Buhari would hold talks with President Paul Biya and senior Cameroonian government officials. The talks between President Buhari and his Cameroonian counterpart are expected to focus on the full activation and deployment of the Multinational Joint Task Force against Boko Haram, which has been established under the auspices of the Lake Chad Basin Commission. Also the president will discuss with President Biya and Cameroonian government officials on

joint measures to curb terrorism, violent extremism and other crossborder crimes. The state governors on the president’s entourage are Mohammed Bindow (Adamawa), Emmanuel Udom (Akwa Ibom), Samuel Ortom (Benue), Kashim Shettima (Borno), Ben Ayade (Cross River) and Darius Ishaku (Taraba). Adesina said President Buhari will use the opportunity of his visit to Yauonde to meet with Nigerians living in Cameroon. Others on the delegation are the Permanent Secretary of the Federal Ministry of Defence and the Director-General of the National Intelligence Agency (NIA). The president, who is expected back in Abuja on Tomorrow, will undertake a one-day trip to Benin Republic on Saturday for talks with President Boni Yayi to round-off the diplomatic shuttles to neighbouring countries, which he embarked upon on assumption of office to strengthen regional cooperation against terrorism and make it much harder for Boko Haram to operate across national boundaries.

NEW TELEGRAPH wednesday, july 29, 2015

News

national

FRSC begins operations against trucks, trailers

CBN: Rice import duty evaders must pay Amadi Nnamdi Abuja

he Federal Road Safety Corps (FRSC) has commenced a major operation against truck and tanker operations. The moved is aimed at ensuring that operators of the vehicles abide by traffic rules and regulations to prevent fatal crashes involving them as recorded across the country at the beginning of the year. Code-named, "Operation Scorpion," to depict the painful effects of scorpion sting, the exercise was initiated by the Corps Marshal of FRSC, Boboye Oyeyemi following the spate of road traffic crashes involving trailers and trucks with specific aim at addressing the chaotic manners that the vehicles operate on the nation's highways. The operations which commenced in the early hours of Monday, along the Lagos-Ibadan expressway where majority of the vehicles ply, is being prosecuted by Zone 2 Headquarters of the FRSC with all the component commands as well as the neighbouring commands in Oyo State participating. Bisi Kazeem, FRSC Head of Media Relations and Strategy said the exercise was a fallout of the various strategies being put in place to deal practically with the challenges which truck and trailer operations pose to the nation.

L-R: General Manager, Marketing, MultiChoice Nigeria, Mr. Martin Mabutho; an artiste, Ivie Okundaye; Marketing Manager, MultiChoice Nigeria, Chioma Afe; a musician, Banky W and General Manager (Sales), Mr. Akinola Saliu, during the re-launch of DStv Compact bouquet in Lagos…yesterday.

Emmanuel Onani Abuja

peratives of the Economic and Financial Crimes Commission (EFCC), yesterday grilled Toyin, the wife of the Senate President, Dr. Bukola Saraki, for six hours at the Commission's Headquarters in Abuja. The EFCC is investigating Mrs. Saraki over allegations of suspicious transactions in companies she is suspected to have links. The Senate President's wife arrived the anti-graft agency's head office at about 12:20pm, and was immediately ushered into the room, where she was interrogated until about 6:15pm, when she was driven out of the Commission's premises.

APC backs Buhari's probe of Jonathan administration

l PDP warns against victimisation Johnchuks Onuanyim and Onyekachi Eze Abuja

he All Progressives Congress (APC) yesterday gave its nod to the probe of the Goodluck Jonathan administration by President Muhammadu Buhari. The party, in a statement issued by its National Publicity Secretary, Alhaji Lai Mohammed, stated that the revelations of mind-boggling corruption that are just beginning to emerge have made such a probe imperative. That was as the Peoples Democratic Party, PDP, yesterday warned Buhari against witchunting Nigerians with the anticorruption fight. It said in the oil sector alone, billions of dollars

have been skimmed off by corrupt public officials, wondering how the government of the day can meet its obligations to the citizens if it refuses to recover the huge funds taken away by public officials “It is an irony that those who are suggesting that the Buhari administration should turn a blind eye to the incomprehensible looting are the same ones accusing the government of not doing anything. It is even a cruel irony that the same party that presided over what is fast emerging as the worst governance in the history of our country is the same one that is daily bad-mouthing an administration that is cleaning up its mess,” APC said. The party said even if all the acts of corruption

EFCC grills Saraki's wife for six hours

l Senators, Reps storm agency's HQ in solidarity She was accompanied to the Commission's headquarters by five Senators, about 20 House of Representatives members, as well the Speaker of Kwara State House of Assembly. Senators, who accompanied Saraki's wife to the EFCC's Headquarters yesterday, were: Senators Dino Melaye, Peter Nwaobosi, Abdul Abubakar, Binta Mashin, and Isa Misau, A large crowd of supporters from Kwara State, also accompanied her to the Commission's Headquarters. In a statement, Mrs.

Saraki, through her Foundation, Wellbeing Foundation, said: "As a citizen with the utmost respect for highest standards of transparency and democratic accountability, Her Excellency Mrs Toyin Saraki visited the EFCC today as per their invitation. Mrs Saraki made herself available to assist the commission wholeheartedly with any lawful enquiry they may have. Following today's visit, Mrs Saraki will continue to cooperate fully with the EFCC, and hopes for a prompt and positive resolution in satisfaction of this enquiry

that were perpetrated during the tenure of the last PDP administration are limited to what is now in the public domain, it is still absolutely exigent for the Buhari administration to do all it can to bring the perpetrators to book and recover the looted funds. The Peoples Democratic Party (PDP) said it is on the same page with the Federal Government on the fight against corruption. It, however, stated that due process should be followed to ensure that it is not used as a front to victimize innocent citizens and curtail the freedom of Nigerians. The PDP, in a statement by its National Publicity Secretary, Chief Olisa Metuh yesterday said the clarification has become necessary to remove any misconception that it is against the decision of the present administration to probe some past officials of government because they are PDP members.

Etisalat Nigeria, others lose $408.4m Kunle Azeez

igerian operation of the Abu Dhabilisted Etisalat and 18 other countries where it operates have lost an aggregate or a net profit of 1.5 billion dirhams ($408.4 million) in the three months to June 30. This is coming as the telecoms company reported a 40 per cent fall in second-quarter net profit on early this week. The telecoms company, however, blamed the development on its Saudi Arabia affiliate Mobily and foreign exchange losses. The company disclosed in a statement obtained by Reuters. The company did not provide a year-earlier figure, but its previous financial statements showed the company made a profit of 2.51 billion dirhams in the second quarter of 2014.

"Having placed an emphasis on the importance of accountability, transparency and diligent reporting. Mrs Saraki maintains that she has always operated within the law and to the highest standards of global compliance in all of her activities. "Mrs Saraki reaffirmed her willingness to assist the EFCC and expects that the spirit of this enquiry will follow the global standards and principles of open democracy, transparency and impartially that the EFCC and other similar organisations around the world are founded upon."

Analysts polled by Reuters had forecast the Gulf's No.2 telecoms operator by market value would post a quarterly profit of 2.16 billion dirhams. Saudi's Mobily, in which Etisalat owns a 27.5 percent stake, has been embroiled in an accounting scandal that has led the kingdom's No.2 operator to restate much of its earnings from 2013 onwards. In June, Etisalat warned Mobily's latest restatement would cut its 2015 net profit by 204 million dirhams. The United Arab Emirates' former monopoly generated second quarter revenue of 13.3 billion dirhams, up about 6 percent from a year earlier. In Nigeria, Etisalat, which made an entry into the country’s fastestgrowing telecoms market some five years ago, has yet to break even.

he Central Bank of Nigeria (CBN) has issued a stern warning to the Rice import duty evaders that they must pay up their death or face prosecution. The CBN Governor, Godwin Emefiele, gave this warning during a stakeholders meeting with officials of Paddy Rice Producing states and Rice Value Chain investors yesterday in Abuja. Emefiele said “I am aware that some people got some quota and they imported some large quantity of rice above the quota that they were granted and I am also aware that Nigeria Customs Service has written to them that they should pay. I am aware that the National Assembly also held a session where they insisted that there was truly incidence of over import and that the duty has to be paid. Do we know them? Yes we know them and I have also spoken to them that they must pay. “You are taking a big risk and I will like to advice you-don’t wait for the big stick to be wielded on you- just go and pay,” he stated.

Rivers REC denies collecting N700m bribe Tunde Oyesina Abuja

he Rivers State Resident Electoral Commissioner, Mrs. Gesila Khan, yesterday said that she did not collect N700 million or any money from anyone as bribe contrary to the claims by the All Progressives Congress, APC. Speaking through her counsel, Selekeowei Larry, SAN, Khan challenged the APC to produce her statement of account that allegedly contained the huge sum of money. She also said that she carried out her duty in accordance with the law and did not take side with any group, political party or persons. The APC in Rivers State had earlier on Sunday challenged the state REC to explain the source of the N700m reportedly found in her account. However, Khan described the allegation as ridiculous, baseless and a calculated attempt to tarnish her hard-earned reputation.

WEDNESDAY,JULY 29, 2015 NEW TELEGRAPH

Metro KILLED FOR NOTHING A four-year-old boy, according to his father, might have lost his life for a paltry N100 Taiwo Jimoh

he father of a four-yearold who was killed by a 16-year-old boy at the Ijanikin area of Lagos State yesterday claimed his son’s murderer was paid just a paltry N100 to carry out the dastardly act. Speaking on how he killed the victim on Sunday, the suspect, Tajudeen Azeez, said he called the boy, Ibrahim Hassan, took him to a school near a Deeper Life Church in the area and slaughtered him. After making sure the kid was dead, he cut open his stomach and attempted to take out his intestine and kidneys. A resident sighted him and raised the alarm. Ibrahim was said to have immediately followed his killer when he beckoned on him, because Azeez used to buy him biscuits and confectionery. The gruesome murder of the boy has left the Otto Owori community in shock. Ibrahim’s bereaved father, Mr Jamiu Hassan, who spoke with our correspondent at their resident in Ijanikin, battled tears as he explained how his son died. Hassan said that he had four kids, with Ibrahim being the second. He said: “The boy who killed my son was paid just N100 to collect his kidney, intestine and penis for ritual purpose. “The murder of my little boy was a shock to me. I took my wife to the hospital on Saturday after she went into labour. I returned from the hospital and spent the night with the three of them. In the morning, which was Sunday, I went back to the hospital. “I left my kids in the care of my neighbours. It was after I returned from the hospital that I discovered they were frantically searching for Ibrahim.” According to Hassan, when the search party couldn’t locate the boy, more people joined in the search and spread out in the

‘Suspect got N100 to get boy’s body parts’

The late Ibrahim at two

community. They paid a visit to the palace of the Oba of Ijanikin, believing that the boy might have been taken to the palace by someone who saw him roaming the street. He was, however, not there. “I was told by my five-yearold, Al-amen that he and his kid brother, Ibrahim were playing outside the house when Azeez came and took him away. He said that Azeez came with biscuits

FEATURES Editor

abiodun.bello@newtelegraphonline.com

and confectionery,” Hassan said. The search party went to the police to report that Ibrahim was missing. When the party was returning from the station, one of the neighbours said he saw Azeez with Ibrahim’s bloody body. The police have since arrested Azeez and nine others in connection with the murder. It was also gathered that the person who gave Azeez N100 to

get him a kidney, intestine and penis, was not Osan, but one Uzor, a member of the community. The said Uzor had since disappeared from the community since Sunday. “They have killed my president. Ibrahim used to tell me that he would be become the President of Nigeria. I want the Lagos State Governor, Akinwunmi Ambode, and the Commissioner of Police to come to my aid. I

DSS nabs kidnap kingpin, Vampire Steve Uzoechi Owerri

T ABIODUN BELLO

Mrs Hassan

don’t want the case of my son to be swept under the carpet like so many other unresolved murder cases in this country.” Ibrahim’s mother, Mrs Felicia Hassan, was uncontrollable in her agony and tears. Felicia, who just had a baby boy, said: “When I left for the hospital, I never knew this was what was going to happen to my children. Since the discovery of my son’s death and remains, I had not been able to sleep or eat. I want the governor and human rights activists to intervene in this case.” Ibrahim’s grandfather, Alhaji Taiwo Hassan said: “I have gone to the police station after I learnt that some chiefs went there to bail some of the suspects arrested in connection with the murder of my grandson. “I came all the way from Abeokuta because of the incident. When I got to the station, I was told by a senior officer that some chiefs in the community were trying to bail some of the suspects mentioned by Azeez. “The DPO has given me the assurance that the suspects would be transferred to the State Criminal Investigations Department (SCID), Panti, Yaba, for further investigation.” When our correspondent visited the palace of Oba Onijanikin, Prince Wasiu Afolabi, the monarch’s son, said that the ‘palace’ sympathised with the bereaved family over the incident. He said: “When the parents of the deceased were searching for him, they came to the palace. I asked them to report the matter to the police. The boy’s body was later found in the hands of the suspect.”

he Department of State Services (DSS) in Imo State has arrested a notorious kidnap kingpin and two of his gang members who had been terrorising the SouthEast and South-South zones of the country. The state DSS Director, Mr Francis Ejiofor, paraded the three-man kidnap gang led by Henry Chibueze aka Vam-

pire, a native of Nwangele Local Government Area of Imo State. Ejiofor said that with the arrest of the gang, kidnapping in Imo State would soon be a thing of the past. According to him, Chibueze, who he described as a vicious killer, has been on the security watch list for a long time and the DSS has been able to establish a pattern associated with his operations which aided the agency in tracking him down. The director said the activities of Chibueze traversed

Nigeria, Republic of Benin, Congo and Cote’d Voire. However, luck ran out on Chibueze and his gang when they attempted to kidnap some of the Election Tribunal judges lodging at the Disney Hotel, on Onitsha Road, Owerri. They were apprehended by a detachment of combat-ready DSS operatives who had been on their trail. Vampire sustained a bullet wound on the leg and managed to flee with the injury. He was, however, arrested in the house of a relative in a

pre-dawn operation. Another member of the gang, Akeem Bello, is a deserter in the Nigerian Army who abandoned his duty post in the North-East to join the kidnap gang. Bello provides the gang security cover with his identity card as an Army officer and often lodges into hotels as security officer. Chibueze attested that with Bello, who he had only known for about six months, the gang was never stopped by police while in transit.

Metro

NEW TELEGRAPH WEDNESDAY,JULY 29, 2015

Pensioners ground Ondo over N13bn arrears Babatope Okeowo Akure

ensioners in Ondo State yesterday took to the streets to protest non-payment of their gratuities, monthly allowances and harmonisation arrears. The protesters, under the auspices of Nigeria Union of Pensioners (NUP), had converged on the union’s office at Alagbaka area of Akure as early as 8.00am, before marching to the state Secretariat, while chanting solidarity songs. The protest led to gridlock on the popular Oba-Adesida Road, Arakale Road and the road linking the town with the secretariat. Armed with placards with various inscriptions such as “Ondo State Government owes us N13 billion,” “Pay arrears of 15% pension increase” and “Our gratuities yet to be paid since 2011 December to both state and Local Government Pensioners,” the protesters disrupted free flow of traffic for hours. The senior citizens said they had issued a statement on July 18 in which they warned that they would not hesitate to have a show down

The protesters

with the state government for refusing to pay their backlog of arrears, allowances and gratuities running into over N13 billion. The aggrieved protesters also demanded the immediate removal of the Commissioner for Information, Mr Kayode Akinmade, over his comment that the govern-

ment did not owe pensioners any allowances. They urged the government to pay pensioners from the Federal Government bailout fund. A statement signed by the state NUP Chairman, Chief Raphael Adetuwo, the state Secretary, Prince Adejare Adesida and the state Trea-

surer, Chief L. F. Omoniyi, decried the insensitivity of the state government to their plight. The statement reads in part: “We are therefore constrained to inform your Excellency, Dr Olusegun Mimiko, our governor and the people of Ondo State, that Ondo state Government is owning Ondo State pensioners arrears of 15 per cent pension increase paid in the year 2012. “Gratuities yet to be paid since 2011 December to both state and local government pensioners. And 33 per cent pension increase approved by the Federal Government yet to be implemented.” The state government, in its reaction, assured pensioners on its payroll of payment of their outstanding pension and gratuities after payment of workers’ salary this week. Akinmade said in the statement that the government acknowledged that the pensioners were being owed outstanding arrears and hinged the inability to pay on the dwindling revenue from the Federation Account as well as low internally generated revenue.

Family, others protest car dealer’s death in police custody Cajetan Mmuta BENIN

amily members, civil society groups and students yesterday protested in Benin, Edo State the death of a car dealer in police custody. The victim, Benson Obode, was alleged to have been killed by policemen from Lagos State who stormed the state to arrest him on May 21 over alleged car theft. He was said to have bought a stolen vehicle and subsequently trailed by the police deployed from Lagos State Command who wore ear rings and dreadlocks. The whereabouts of the late car dealer was kept secret from the family until July 27, when the police told journalists in Lagos that Obode had died.

According to the police, Obode died from ‘mob action’ and that his body was deposited at the Central Hospital mortuary. But at the Central Hospital mortuary, it was gathered that Obode’s body was brought there by one Corporal Oniyon Musa the same day he was arrested. A 27-year-old man, Chibuike Edeh, who was a worker at Protea Hotel in Benin, had died under mysteriously circumstances in police custody on March 14 after his arrest by operatives of the state police command for allegedly stealing N42,000 belonging to a guest. However, the protesters yesterday, who wore clothes, stormed the premises of the Edo State House of Assembly, Edo Government House and headquarters of Edo Police

Command and demanded an independent autopsy to ascertain the actual cause of Obode’s death. Obode’s elder brother, Solomon, said the police were yet to inform the family what happened to his brother since he was arrested. He said the N200,000 cash, phones and ATM cards belonging to his late brother were still missing. Solomon added that his brother’s remains were deposited at the morgue as ‘Benson Agu’ instead of Benson Obode, a development that caused more stirs over the death. He said: “Until now, they have not told the family anything. They broke the news to journalists in Lagos and not the family. We don’t know what has happened to our brother. How could somebody

you arrested be mobbed? We saw him at the morgue that he was killed by torture and was shot. His landlord, who was also arrested, said my brother was tied and hung on a tree while blocks were placed on his chest.”

The late Obode

City Briefs Flood renders over 200 homeless Gabriel Choba Ughelli

lood, which followed a downpour in some communities in Sapele Local Government Area of Delta State, has rendered over 200 residents homeless. The incident occurred in the early hours of Monday. Some of the victims, Mr Sunday Efetobre, Mrs Grace Okpako and Elder James Ejirooghene, blamed the flood on the lack of drainage. They accused the ‘Town Planning’ of causing disaster. The affected areas include Cemetery Road behind former NEPA, Adeola Road by Sapele Clinic, Gana, Amukpe, Okirighwre and Okpe Road by Omare Primary School. The victims called on the local, state and Federal Governments to quickly intervene as their property worth millions of naira had been destroyed by the flood. It was also gathered that some of the drainage systems have been block owing to illegal approval/construction of buildings which had prevented the free flow of water.

Traders protest thugs’ invasion of Alaba Market

cores of traders at the industrial section of Alaba Market yesterday besieged the Ojo Divisional Police Station to protest the “invasion of the market by thugs numbering over 50”. The protesters also claimed the thugs unleashed terror on them. They said the thugs were loyal to former chairman of the market association who refused to vacate office despite the intervention of the Ojo Local Government which set up an election committee to usher in a new executive. The traders marched from Alaba International Market to Ojo Local Government Secretariat before heading for Ojo Police Station, where the Divisional Police Officer (DPO) addressed them. The protest led to the closure of the entire market yesterday. Sternlooking police officers from Okokomaiko, Ojo and other divisions were stationed there to forestall breakdown of law and order. Former financial secretary of Industrial Market Association at the market, Mr Ike Onyekesi, recalled that the crisis started five years ago, which gave rise to thuggery in the market. According to him, as a result, stakeholders shared the executive positions among the states in the market.

Teenager’s manhood ‘vanishes’ after handshake Dan Atori MINNA

IG, Solomon Arase

olice have arrested two persons for allegedly making the penis of a 17-yearold boy, Suleiman Usman, to ‘vanish’ at Lambata in Gurara Local Government Area of Niger State. A witness, Mohammed Tsado, said the victim told him that one of the suspects alighted from a car and asked him to shake

him but he declined. But the suspect insisted by asking him whether he was not a Muslim. After accepting the handshake, Usman, according to the witness, realised that his penis had vanished and then he raised the alarm. Another witness, Zakari Mohammed, said the suspects ran into their car and sped off but were intercepted at Muye by vigilantes who had been tipped off.

However, the aggrieved youth descended on the suspects and attempted to lynch them. But, the police intervened and took the suspects to the station. The suspects were allegedly asked to restore the victim’s penis. Usman was then taken to a commercial sex worker to confirm whether his penis was still functioning. He said his penis was back but he could not ‘perform’.

The youth of Lambata later thronged to the police station and threatened to attack the suspects. The state Police Public Relations Officer (PPRO), Bala Elkana, said it was a sensitive case that required professional handling. He said: “But, the angry youth did not allow the police to do their job. I can assure you that we are on top of the matter and we will ensure the case is handled amicably.”

News

wednesday, july 29, 2015 NEW TELEGRAPH

national

JAMB reverses new admission policy Mojeed Alabi

he Joint Admission and Matriculation Board, JAMB, yesterday reversed its new admission policy, which would have barred some candidates from writing the post-Unifying Tertiary Matriculation Examination tests of some of the universities of their first choices. This is even as the candidates in their hundreds, alongside the leadership of the Association of Tutorial School Operators trooped to the streets of Akoka, Lagos, yesterday afternoon in jubilation for what they referred to as their victory against JAMB and the University of Lagos, UNILAG, Akoka. The new policy, which had been greeted by protests from both the candidates and their parents, was yesterday reversed by the examination body by lifting the ban earlier placed on some universities including UNILAG, University of Ibadan, University of Ilorin and Imo State University, from conducting the post-UTME for any other candidates other than those recommended to them by the board. In an exclusive interview with New Telegraph, the JAMB’s Public Relations Officer, Mr. Fabian Benjamin, said the board shifted its ground on the policy in response to the demands by the individual candidates to be accorded the opportunity to fight for the available slots. Benjamin, however, revealed that the redistribution of the candidates to other needy universities will not stop and that those redistributed candidates can as well write the post-UTME tests in their universities of first choice and still proceed to where they are redistributed to take part in their screening tests. He said; “JAMB as a responsible and responsive body wouldn’t have closed its ears against the cries of its candidates.

But the redistribution still holds and the advantage is just that these candidates who have been redistributed have chances of writing post-UTME in two places.” Benjamin added that JAMB was only interested in ensuring that the candidates are offered admission rather than wasting their high scores concentrating their efforts on a single institution. In an interview with New Telegraph, the National President of the Association of Tutorial School Operators, Mr. Oludotun Sodunke, who

had led the students to challenge the new policy in court, said the victory belonged to Nigerians and the responsiveness of a new government and the support by the media. He, however, warned the concerned universities not to willingly frustrate the students in their qualifying tests, saying it would not be unexpected that these institutions as a way of implementing the new policy through the backdoor can introduce stringent conditions that will lead to the failure of the candidates.

he management of JSP Communications Limited yesterday condoled with the Managing Director/Editor-In-Chief of New Telegraph, Funke Egbemode, over the death of one of her staff, Dele Alao. Alao, who passed on Thursday, July 23, was the Industry and Agric Editor of New Telegraph before

(UNILAG) seeking for a judicial review of the decision by the institution and the Joint Admissions and Matriculation Board (JAMB) to deny them admission based on the 250 cut-off marks. The judge while granting the motion, said it would be in the interest of justice to grant the motion for judicial review of JAMB and UNILAG's role in the matter. Hearing of the motion has been fixed for August 10, two days to the postUnified Tertiary Matriculation Examinations (UTME) which will be conducted by UNILAG.

L-R: Publisher, Africa Today, Mr. Kayode Soyinka; aspirant for Commonwealth Secretary General, Sir, Ronald Sander; President, Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs and Managing Director, Bank of Industry (BoI), Mr. Rasheed Olaoluwa, at the Africa Voice Summit tittled; 'EU-Africa: the Economic Partnership Agreement, In Who’s Interest?' in Abuja…yesterday. PHOTO: TIMOTHY IKUOMENISAN

Muritala Ayinla

he former Mayor of the City of London, Sir Roger Gifford, yesterday said that British Government plans to increase investment in Nigeria, even as he presented the Nigeria-UK Capital Markets Project's inaugural report to the Lagos State Governor, Mr Akinwunmi Ambode. This was even as Ambode said that tax incentives could be a major catalyst for greater capital flows into the capital markets in Nigeria. He restated his administration's commitment to providing an enabling environment for investors. The historic event which was the product of several months of collaborative work between the Nigerian Capital Markets Solicitors Association and the Law Society of England and Wales took place at the Lagos State House, Alausa Ikeja, where Ambode assured stakeholders that the state government would do everything possible to make the state safe for business and investors. Speaking after presenting the report to Governor Ambode, the former Mayor of the City of London & Co-Chair, Emerging Capital Market Taskforce UK-Nigeria, Sir Roger Gifford, said one of the key recommendations of the report focuses on boosting the integrity of the markets to improve information disclosure.

Jonathan must take responsibility for his actions — Oshiomhole Cajetan Mmuta BENIN

overnor Adams Oshiomhole of Edo State said yesterday there was massive looting of the nation’s commonwealth during the administration of former President Goodluck Jonathan. He noted that while he was in no position to determine if the former President was personally guilty or if he acquiesced

to the looting, but as President, he must take responsibility for what happened under his watch. Oshiomhole, who spoke in an interview with Sahara Reporters TV in Washington DC, said although he had raised many questions on the tenure of the former Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, he has nothing personal against her. According to him,

Osagie, JSP condole with New Telegraph on Alao’s death

The university’s Public Relations Officer, Mr. Oke Adegoke, told New Telegraph that it would not be the first time to conduct the post-UTME and that the ongoing registration may be altered by the management as soon as JAMB releases the details of all the candidates who chose UNILAG as their first choice and qualify for the test. Earlier yesterday, Justice Mohammed Idris of a Federal High Court in Lagos had granted an ex-parte motion filed by the prospective students of University of Lagos

UK to boost investment in Nigeria

his demise after a brief illness. In the letter signed by the Head, Media Department of JSP, Mrs. Favour Ojiabor, the organisation expressed its sympathy, while extolling the virtue of the late Alao. “On behalf of JSP Communications Limited, I write to express our deepest sympathy on the de-

mise of our dear selfless, patriotic and consummate Marketing journalist, Mr. Dele Alao,” the letter read. Similarly, the Managing Director and Editor-inChief of Sun Newspapers, Mr. Eric Osagie, has commiserated with the management and staff of New Telegraph Newspapers over the death of Alao. Osagie, who was Man-

“What is obvious is that so much money was diverted and unaccounted for from government treasury. Not just from excess crude account, but also from other agencies of government.” “The numbers are huge. For example, NNPC reports that they earned about N8 trillion within three to four years and over the same period, they claimed they spent N3.5 trillion and paid to the federation account about N4.1 trillion. So, the cost of

running NNPC was as much as the cost of running the federation-the Federal, State and local governments. So that tells you the amount of primitive stealing that went on. The numbers are mind-boggling. So when we talk of Excess crude, that is just one element.” He said his grouse with Dr Ngozi Okonjo-Iweala was that as Coordinating Minister of the Economy, so much sleaze and malfeasance went on under

aging Director and Editor-in-Chief of New Telegraph Newspapers until his recent elevation to the same post in Sun Newspapers, described Alao's death as a great loss to his employer, his family and the journalism profession. He prayed God to give his family the strength to bear Alao's loss with equanimity and for his soul to find peace in the bosom of the Lord.

Jonathan’s wife wasn't humiliated — FAAN Wole Shadare

he Federal Airports Authority of Nigeria (FAAN), yesterday denied barring former First Lady, Patience Jonathan from the use of Port-Harcourt Airport’s protocol lounge. Spokesman for FAAN, Dati Yakubu, in a statement said: “The atten-

her watch without raising an alarm, saying “she has to come clean.” “Having accepted the role of the Coordinating Minister, so many things went wrong with the Nigerian economy even to the extent that for the first time in our history, even the Federal Government could not pay salary; they had to borrow. The pension scheme has been drawn down; the social purpose of the pension scheme has now been defeated.”

tion of the FAAN has been drawn to a misleading and mischievous news story in the social media alleging that the wife of the former President Goodluck Jonathan, Dame Patience Jonathan was denied access to the VIP lounge at the Port Harcourt International Airport yesterday, July 27, 2015.”

NEW TELEGRAPH WEDNESDAY, JUly 29, 2015

June 12 election Unveiling ‘The Supreme Price’

Power tussle

Endless battle in Akwa Ibom

Politics

Buhari’s presidency, two months after

Having earned the nickname ‘Baba go slow’ due to his perceived slow approach to governance since taking over power two months ago, President Muhammadu Buhari appears to have stepped up the gear. Unlike the first one month of the administration, the second month has witnessed increased actions as reviewed by ANULE EMMANUEL Day one: Power changes hands On May 29, the baton of leadership changed hands. At the Eagle Square in Abuja, the venue of the presidential inauguration, President Goodluck Jonathan’s reign came to an end. Muhammadu Buhari took over the driver’s seat of Nigeria’s leadership at an event attended by world leaders, diplomats and who is who in Nigeria. In keeping with his campaign promises to provide a more purposeful leadership for Nigerians, President Buhari and his vice, Prof. Yemi Osinbajo, shortly after taken the oath of office and allegiance, performed their first official assignment, signalling the beginning of a new era with the hosting of heads of governments and presidents to a luncheon at the new banquet hall of the Presidential Villa. The president later hosted guests and friends to a gala night where he thanked supporters and re-assured Nigerians of his government’s readiness to face head-

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

Buhari and Obama in Washington

on, the task ahead. Day two: No activity Saturday May 30 passed without an activity, apparently Buhari and Osinbajo took off time to rest. Day three: Appointments On Sunday May 31, the President made his first appointments of close aides. President Buhari announced Mr. Femi Adesina, a former Managing Director and Editorin-Chief of the Sun Newspaper as Special Adviser while Mallam Garba Shehu, a former President of the Nigerian Guild of Editors (NGE) like Adesina, was named Senior Special Assistant on Media and Publicity. On the same day, he also approved the appointment of Lawal Abdullahi Kazaure as the Chief of Protocol (SCOP) in the State House. Day four: Condolences The first day in the month of June also witnessed a low event at the Defence House. President Buhari issued two statements first, condoling the governor and people of Anambra State, over the unfortunate death of 60 persons who died when a petrol tanker crashed into a busy bus station in Onitsha. On the same day, the President extended condolences to the Vice President of United States, Joe Biden, who had lost his son, Beau Biden, to cancer.

It was a moment of tears at the Defence House on Friday June 12, when the President received two mothers from Chibok village

Day five: Meeting with Service Chiefs On Tuesday June 2, the President was locked up in a crucial meeting with the nation’s security chiefs. The meeting with the top military officers lasted for over five hours. One major decision that came from the extended meeting was the perfection of arrangement to finally move the Military Command-Centre on Boko Haram to Maiduguri, the Borno State capital. The meeting was attended by the National Security Adviser (NSA) to former President Jonathan, Colonel Sambo Dasuki (rtd); Chief of Defence Staff, Air Marshal Alex Badeh; Chief of Naval Staff, Vice Admiral Usman Jibrin; Chief of Army Staff, Lt.-Gen. Kenneth Minimah; the Chief of Air Staff, Air Vice Marshal Adeola Amosu as well as the InspectorGeneral of Police, Mr. Solomon Arase. The day was actually loaded for the President. The National Chairman of his party, the All Progressives Congress (APC), Chief John Odigie-Oyegun, had also visited with his National Working Committee (NWC) members earlier. Day six: The Niger trip On Wednesday June 3, President Buhari departed for Niamey, Niger Republic to hold talks with the Nigerien government on how to end Boko Haram insurgency in the North-East.

Niger’s President Issoufou Mahamadou gave an assurance that Niger will continue to support Nigeria in the fight against Boko Haram. Day seven: Talks on Boko Haram After conferring with the Niger President, Buhari proceeded to Chad Republic the following day, June 4, where he held meetings with Chadian President Idriss Deby, on similar security challenges and key role countries of the sub-region needed to play to assist Nigeria. Buhari returned to the country on Thursday evening, and was received at the Nnamdi Azikiwe International Airport by top government functionaries and politicians. Day eight: Condolence Friday June 5 witnessed low turnout of events. The president had written to condole with the government and people of Ghana over the dual tragedy of flooding and fire outbreak which claimed scores of lives in the country. Day nine/10: G-7 Summit In continuation of his consultations across regional and continental borders, President Buhari on June 6 headed to Germany to attend the G-7 summit. He was invited to participate in some of the outreach programmes CONTINUED ON PAGE 10

Politics

WEDNESDAY, JUly 29, 2015 NEW TELEGRAPH

Sacks, appointments, anti-graft dominate Buhari’s govt C O N T I N U E D F R O M PA G E 9

at the summit by the German Chancellor Angela Merkel even before he was sworn in on May 29. Nigeria is not a member of the group. Interestingly, the President during the two-day event interacted with other world leaders including the President of the United States, Barack Obama; Secretary- General of the United Nations, Ban Ki Moon and secured their promises in assisting Nigeria end the insurgency. Specially, Germany, France and Canada assured the government of military and intelligence cooperation in executing the war against Boko Haram. Day 11: Trouble in the National Assembly President Buhari returned from the Germany trip on Tuesday June 9 and was scheduled to meet with senators and House of Representatives members elected on the platform of the APC ahead of the election of their principal officers, a meeting which never held. Against the wishes of his party, both Senate President Bukola Saraki and Speaker of the House of Representatives, Hon. Yakubu Dogara, emerged in a process that was heavily criticised by the party’s leadership. But the president issued a statement same day, insisting that he was prepared to work with whoever emerged leaders in the two chambers. Day 12: Security meetings On June 10, President Buhari continued with another series of meetings. He met with the Chief of Defence Staff, Badeh; the Chief of Naval Staff, Jubril and the National Security Adviser, Dasuki to perfect arrangements for a meeting of Heads of State and Governments of the Lake Chad Basin Commission that had been scheduled to meet in Abuja the next day. Day 13: Buhari meets presidents President Buhari on Thursday June 11 met with Presidents Paul Biya of Cameroon, Mahamadou Issoufou of Niger Republic, Idriss Deby of Chad and Boni Yayi of Benin Republic, at the Nnamdi Azikiwe International Airport, Abuja, where they all agreed on providing the needed support for the operation of the Multinational Joint Task Force (MNJTF) in tackling the menace of the Boko Haram sect in the North-East and the sub-region. President Buhari did not hesitate to redeem an earlier pledge by the country of $100 million as funding to support the MNJTF. A major decision which was agreed by the leaders at the Abuja meeting was to forward military requirements of the member states to the G-7 and seek the African Union support in tackling the Boko Haram insurgency. Day 14: Interacts with Chibok

President Muhammadu Buhari and his Vice, Prof. Prof. Yemi Osinbajo, during Buhari’s arrival after a 3-day official trip to Washington DC, at the Presidential Wing of the Nnamdi Azikiwe International Airport in Abuja.

mothers It was a moment of tears at the Defence House on Friday June 12, when the President received two mothers from Chibok village, whose daughters are among the over 200 schoolgirls kidnapped by the Boko Haram insurgents more than a year ago. The brief event was attended by both the wife of the President, Mrs. Aisha Buhari and wife of the Vice President, Mrs. Dolapo Osinbajo. Earlier in the day, President Buhari had also held meetings with the National Chairman of the APC, Oyegun, before receiving a report from the Ahmed Joda-led transition committee. Joda and his team submitted an 800-page document containing observations and recommendations following a careful study of the handover notes that the APC transition committee received from the government of President Jonathan. Day 15: Attends AU summit In pushing further negotiations and seeking support for the fight against Boko Haram, the President on Saturday June 13 took the message to the 25th African Union summit in Johannesburg, South Africa. For the first time, he had the opportunity to chair the meeting of the Peace and Security Committee of the AU summit. While the president left the country, his wife, Aisha, hosted APC women and youths from across the 36 states to an appreciation dinner at the Presidential Villa, Abuja. At an event which was a gathering of the de cream de la cream, the president’s wife took time to caution politicians and associates of her husband on pursuing parochial interest other than the nation’s development. In South Africa, President Buhari advised African leaders to work strongly towards changing

the face of the continent. He also seized the opportunity to interact with the Nigerian community in South Africa. Day 16 and 17: Age vs performance At a ceremony which held on Sunday June 14, the president told a gathering of Nigerians in South Africa that considering his thinking for the country, he wished he had become president at a younger age. He said: “How I wish I became Head of State when I was a governor, just a few years as a young man. Now at 72, there is a limit to what I can do.” This comment sparked off criticisms but immediately put into better perspective by his media aides. President Buhari returned to the country on Tuesday June 16.

The president blamed his predecessor, Dr. Jonathan and security agencies for the poor handling of the Chibok girls’ kidnap

Day 18-22: Abuja, Daura and Ramadam After meeting with chieftains of the APC including former VicePresident Atiku Abubakar at the Defence House where he had been living, the president proceeded to Kaduna same day before proceeding to Daura, his village in Katsina State where he started his Ramandan fasting. Day 23: Buhari moves to Villa President Buhari returned to Abuja on Saturday June 20 and proceeded straight to occupy his official residence at the Presidential Villa, which had been under renovation since his inauguration on May 29. His wife, Aisha, had moved in with members of the first family on Thursday in the absence of her husband. Day 24 and 25: First day at work, meeting with the media The President spent his first night at the villa on Saturday and rested through Sunday June 21 to resume official duties at the Oval Office on Monday June 22. One of the official assignments

carried out by the president at the Villa on the first day was his meeting with the Service Chiefs. One highpoint of the meeting was a directive from the president for the removal of all military checkpoints on the roads with exception of areas perceived by the military as susceptible to Boko Haram attacks. Later in the evening, President Buhari met with State House correspondents very unexpectedly. Day 26: Governors, emirs at the Villa On Tuesday June 23, President Buhari met with governors of the 36 states of the federation at the Presidential Villa to find a way out of the crisis facing the country regarding dwindling revenues and inability of some state governments to pay workers’ salaries. It was during the meeting that the president vowed to pursue all government officials who abused offices in recent past and stole from the treasury until they return such monies. President Buhari also met with members of Northern Council of Traditional Rulers, who came to express their solidarity for his government. They were led to the Villa by the Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar III. Later in the night, the president met separately with governors elected on the platform of the APC at the Presidential Villa where they discussed the leadership crisis in both chambers of the National Assembly. Both the president and governors agreed that there was need for members of the party to respect the decision of the party. Day 27: Buhari’s security and DSS On Wednesday June 24, a major decision which appeared to be causing friction among security agencies in the seat of power was taken. The president through his Aide de Camp, Lt.-Col. Mu-

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L-R: Former Rivers State governor, Mr. Rotimi Amaechi; APC National Leader, Senator Bola Tinubu and President Buhari, during the breaking of fast with the president in Abuja.

hammed Abubakar was alleged to have driven all men of the Department of State Security (DSS) out of the Villa. The Presidency later denied such development, insisting that it was normal realignment of security around the president. Day 28: President appoints AGF On June 25, the president appointed Ahmed Idris as Accountant General of the Federation. The president also granted audience to President of the Economic Community of West African States (ECOWAS) Commission, Mr. Kadre Desire Ouedraogo. He assured Ouedraogo that Nigeria would hold further consultations with other stakeholders to agree on a new date for the ECOWASECCAS security summit on Boko Haram, earlier scheduled to hold in Malabo, Equatorial Guinea on April 8, 2015. Day 29: President dissolves NNPC board On Friday June 26, President Buhari dissolved the board of the Nigerian National Petroleum Corporation (NNPC). He had earlier in the day held the Jumat prayer with Muslim faithful at the Presidential Villa for the first time. Day 30 and 31: Days of rest Saturday June 27 came without an activity in the Presidential Villa. There was no travel and statement of policy action from the government. Also, June 28, was another resting day for the President and his vice, Osinbajo. It was a quiet time as Christians attended the Aso Rock Chapel but with the absence of the vice president. President Buhari stayed all through the day in his residence. Day 32: President approves air carriers for Muslim pilgrims On July 1, Buhari met with the chairman of the National Hajj Commission of Nigeria, Abdullahi Mohammed Mukhtar, to receive brief on preparation for this year’s exercise. The president had directed for stronger collaboration among regencies responsible for Hajj operations. At the meeting, President Buhari also approved the carriers that would be airlifting about 76,000 Nigerian pilgrims this year. Day 33: President meets Gbajamiabila group over NASS crisis On Thursday July 2, the president met with the Femi Gbajabiamila group, over the leadership

L-R: Chief of Air Staff, Air Vice Mashal Sadique Abubakar; Chief of Naval Staff, Rear Admiral Ibok Ete Ekwe Ibas; Chief of Defence Staff, Major General Abayomi Olonisakin and Chief of Defence Intelligence, Air Vice Marshal Monday Riku Morgan at the State House, Abuja.

tussle in the House of Representatives. The factional lawmakers had come to table their grievances, accusing the APC members on the side of Speaker Dogara of allegedly colluding with the Peoples Democratic Party (PDP) to polarise the ruling party in the legislature. He had earlier granted audience to the new Japanese Ambassador to Nigeria, Mr. Sadanobu Kusaoke. At the brief ceremony, President Buhari assured both local and foreign investors that his administration was committed to providing a conducive environment that would both trade and economic activities. The president also hosted Mr. Rene Bagoro, Burkina Faso’s Minister of Housing and Urban Development, where he promised that Nigeria would do all it could to help in the achievement of successful elections in Burkina Faso on October 15. Day 34: Buhari meets APC NEC members President Buhari on Friday July 3, attended the National Executive Council (NEC) meeting of the APC at the party national secretariat in Abuja as part of moves to address some of the leadership crisis facing the party particularly at the National Assembly. At the meeting, the president told leaders of the party to work hard to quickly resolve internal differences within its fold and avoid disappointing Nigerians. He warned that having won the battle of the last general elections, the APC now runs the risk of losing the “war” for party unity and internal cohesion. He also affirmed his belief in the supremacy of the party. The president later joined Muslim faithful at the Aso Rock Mosque for worship and break the fast at Ramadan. Day 35: President fires CSO On Saturday, July 4, he continued with interaction and met his party leaders. This time, he met APC state chairmen at a parley in the Presidential Villa, where he said he remained fully committed to providing a level playing field for all Nigerians. Same day, President Buhari fired his Chief Security Officer (CSO) Mr. Abdulrahman Mani for reasons yet to be disclosed. Mani has since been replaced and redeployed to Ebonyi State. Day 36: No activity but issuing of statements Sunday July 5 came without

an activity in the Villa. Two statements only came from the seat of governance. One was to expressed disappointment and sadness over the bomb attack at a church on the outskirts of Potiskum, Yobe State the previous day. The second statement was to distance the President from a Twitter handle linked to Zahra Buhari, one of his daughters. Day 37: President inaugurates NEC In order to effect the implementation of policies and strengthen the economy, the President on Monday July 6, inaugurated the National Economic Council (NEC). The council is chaired by the Vice President and has governors of the 36 states of the Federation and the Governor of the Central Bank of Nigeria (CBN) as members. The president did not attend the NEC meeting but left Vice-President Osinbajo to preside.

The appointment of the new leadership of the armed forces is expected to assist the administration end the insurgency in the NorthEast

Day 38: Receives briefs from Permanent Secretaries President Buhari had opened a process where he continues to receive briefs from permanent secretaries on handover notes from the immediate past administration of former President Jonathan. On Tuesday July 7, the president hosted the Permanent Secretary in the Ministry of Agriculture, Sunny Echono, where he directed that a clear and strategic plan should be worked out to end farmers/herdsmen clashes in the country. Buhari also held a private discussion with the Sokoto State governor, Aminu Tambuwal regarding the leadership crisis in both chambers of the National Assembly. Day 39: #BringBackOurGirls campaigners in the Villa Wednesday July 8, provided an opportunity for the #BringBackOurGirls campaigners to interact with the president on the their concerns for the long hostage of over 200 schoolgirls who were kidnapped by the Boko Haram sect since 2014. The group which was led by former Minister of Education Obi Ezekwesili and wife of the former Chief Justice of Nigeria (CJN), Mariam Uwais made a presentation of about 13 demands from the president. At the meeting, the president blamed his predecessor, Dr. Jonathan and security agencies for the poor handling of the Chibok girls’ kidnap.

Also in the day, the president met with Mr. Mukul Mathur of Olam Group of Companies and other investors. It was here too that he promised that very soon, the administration would intervene in the textile industry with deliberate support to local firms and revive them for effective performance. Day 40: US officials came calling As efforts to tackle the insecurity in the North-East continues, President Buhari on July 9, met with the United States Deputy Secretary of State, Mr. Anthony J. Blinken. It was at this meeting that President Buhari received a reminder note on the invitation by President Obama to him. It was also the turn of the Ministry of Justice on this day. The Permanent Secretary, Abdullahi Yola came to the presidential villa to clarify certain issues in the handover notes. He told reporters after his meeting with the president that the ministry was ready to prosecute any person indicted by relevant agencies of government for looting public funds. Recovery of all looted funds especially those from stolen crude remains the current administration’s frontline issues as it moves to fight corruption. Yola was not alone. The Permanent Secretary, Ministry of Works, Dauda Kigbu, also visited where he told reporters thereafter that government was seeking other avenues to fund road projects across the country. Day 41: Oshiomole visits, president gets pay cut There was low activity on Friday July 10. But the governor of Edo State, Adams Oshiomhole, was one of the visitors to the President. He visited alongside former governor of Rivers State, Rotimi Amaechi. Although no one could establish the purpose of the meeting between the president and the two men, Oshiomole told reporters at the end that his state lost huge revenue under former President Jonathan amounting to about N10 billion. Later in the day, President Buhari and his vice announced their decision to receive a 50 per cent cut in their salaries. This action has received commentaries both positive and negative. The president later in the day joined Muslim faithful to worship at the National Mosque in Abuja. CONTINUED ON PAGE 12

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Day 42 and Day 43 Saturday and Sunday July 11 and 12 were resting days because they came without activity. Day 44: Service Chiefs fired On Monday July 13, the president announced the sacking of all service chiefs and appointed their immediate replacement including the National Security Adviser. He had early in the day met with the NSA in Aso Rock and later, the new appointees before making the information on the change public. The appointment of the new leadership of the armed forces is expected to assist the administration end the insurgency in the NorthEast. This was the only item of the day. Day 45: Briefing with ministries continues On Tuesday July 14, the president engaged the permanent secretary in the Ministry of Niger Delta Affairs, Mrs. Fatima Samidele. She told the president that her ministry was having challenges of funding major capital projects in the Niger Delta due to paucity of funds. She said since August 2014, the ministry had not received any capital funding, a situation which has stalled the execution of most projects. A similar visit was also made by the Permanent Secretary in the Ministry of Information, Dr. Shade Yemi-Esan. The main issue which came during this briefing was the need to boost external publicity and the possibility of re-opening the Federal Information Service abroad. The target is to improve the image of the country abroad. President Buhari, later in the evening, met with former governor of Lagos State Bola Tinubu and other stalwarts of the APC for the Ramadan breaking of fast. At the interaction dinner, he thanked them for the dogged fight during the last campaign which led to the ouster of the PDP government. Day 46: Ebonyi gov visits Mr. President Governor of Ebonyi State, Engr. Dave Umahi was at the presidential villa on July 15 where he discussed with the president on how he could access loans for the funding of roads projects in the state. The president also met members of the diplomatic corps for the first time after his inauguration on May 29 for the Ramadan breaking of fast. As expected, the president sought the cooperation of countries with diplomatic missions in Nigeria to support in the fight against terrorism not only in the country but within the African continent. Day 47: Sack galore On Thursday July 16, President Buhari granted audience to the Akwa. Ibom State Governor, Mr. Udom Emmanuel. The governor told reporters at the end of his meeting that he was at the Villa to brief the president on the problem of gully erosion being faced by the state. The president also met with the Chief of Army Staff, Major General Tukur Buratai. The same day, Buhari sacked

WEDNESDAY, JUly 29, 2015 NEW TELEGRAPH

Governance gradually picks up

Presidents Buhari and Obama and other state officials at the White House

the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr. Patrick Akpobolokemi. The president also dissolved boards of agencies, parastatals and federal institutions. Day 48: New NSCDC boss The new Commandant General of the Nigerian Security and Civil Defence Corps (NSCDC), Mr. Abdullahi Gana Muhammadu, was appointed to succeed Dr. Ade Abolurin on July 17, who retired from the service. The President, had earlier in the day, hosted Muslim faithful in the nation’s capital who paid a Sallah homage. The president in the morning of Friday attended prayer session at the Eid Prayer ground where he was nearly mobbed by excited youths. Day 49: No activity July 18 was a weekend and President Buhari rested after the long fasting period. Day 50: President departs for Washington In company of five state governors and other senior government officials, President Buhari departed for a four-day official trip to Washington. He had been invited by the US President Obama for talks that would help strengthen bilateral relations between Nigeria and America as well as how the US could assist to end the Boko Haran insurgency. He left for the visit on Sunday July 19, through the presidential wing of Nnamdi Azikiwe International Airport in Abuja. Day 51, 52 and 53: Talks with Obama, US officials For the presidency and the APC leadership, the visit of the President to the United States is a fulfilling one. President Buhari on Monday July 20 held talks with President Obama where they pondered on several issues relating to economy, security, trade and bilateral cooperation.

For the presidency and the APC leadership, the visit of the President to the United States is a fulfilling one

One thing which the US President stressed during his meeting with Buhari was the need for him to take advantage of the country’s diversity in boosting the economy and improving the lives of Nigerians. He also got the assurances of Washington that the US would stand firmly behind Nigeria to assist the country overcome its numerous challenges so long as the Nigerian government remained focused. During his stay in the US, the president secured the commitment of the Bill and Melinda Gates Foundation, and the World Health Organisation (WHO) which unfolded a comprehensive plan to spend at least $2.1 billion in rebuilding parts of the NorthEast that have been ravaged for the past six years by the Boko Haram insurgency. The plan also captures the resettlement of internally displaced persons (IDPs). While reacting to questions from members of Nigerians In Diaspora Organisation (NIDO) in the US and Canada at the Nigerian Embassy in Washington DC, President Buhari vowed to trace all accounts of individuals who stashed away ill-gotten oil money in the country. He had lamented the impact of the US Leahy law with its negative effect on the war again terrorism in Nigeria. While in Washington, Buhari met with US Vice-President Joe Biden and his 1980 War College classmates. Day 54: Buhari returns to Abuja After the four-day trip, the president returned to Abuja on July 23. While he arrived, his vice, Osinbajo, hosted the NEC meeting. They met to consider the report of the committee that had been set up to probe Excess Crude Account (ECA) and the NNPC account from 2012 till the end of last administration. The committee which was set up during the last NEC meeting has governors Nasir el-Rufai (Kaduna), Adams Oshiomhole (Edo), Emmanuel Udom (Akwa

Ibom) and Ibrahim Dankwambo (Gombe), as members. Day 55: Resumes official duties again in Aso Rock Buhari’s first assignment after his return from the US trip was an audience he granted to the United Nations’ High Representative for South Sudan, Alfa Oumar Konare, at the Presidential Villa. At the brief ceremony, he urged the government of South Sudan and other political factions in the country to start implementing the various peace agreements reached under the auspices of the United Nations, the African Union and the Inter-Governmental Authority on Development in Eastern Africa (IGAD). For the second time since the leadership crisis in the National Assembly began, President received Hon. Femi Gbajabiamila. The meeting was in continuation of steps to resolve the crisis. Day 56: Celebrates polio free On Saturday July 25, the president took part in a brief ceremony to mark Nigeria’s successful completion of one year without any reported case of the wild polio virus. At the event, Buhari pledged that the Federal Government will mobilise and deploy all necessary resources to efficiently complete the task of eradicating polio from the country. Day 57: No activity No official activity except that the president issued a statement ordering full investigation into a recent gas explosion in Jos, the Plateau State capital. The incident had claimed several lives with many people seriously injured. Day 58: Meets APC Reps Since the leadership crisis in the National Assembly did not end, the president convened another meeting, this time with all members of the House of Representatives elected on the platform of the APC. It was a peace meeting. But with the views expressed by most members after the meeting that lasted for just 20 minutes, it was clear that no compromise was arrived at. The meeting was attended by both the Dogara faction and the Gbajabiamila group. The president had early hours of the day appeared on the ‘Good Morning Nigeria’ a programme of the Nigerian Television Authority (NTA) where he expressed concern over the lingering crisis. According to him, if the lawmakers and the APC did not put their house in order, they were only creating an avenue for PDP to return to power. President Buhari also met with the former Secretary General of the Commonwealth, Sunny Ramphel, who expressed confidence that the current administration would succeed in delivering the dividends of democracy to Nigerians. Day 59: Tinubu visits Buhari The president on July 29 hosted Tinubu. Tinubu told reporters that he had visited to only felicitate with the president. Also, Buhari received briefs from officials of the Federal Ministry of Education. Buhari also appointed Brig.Gen. P.T. Boroh as Coordinator, Amnest Programme.

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Unveiling ‘The Supreme Price’ TEMITOPE OGUNBANKE reports on the unveiling of “The Supreme Price” documentary, which chronicles the June 12, 1993 presidential election annulment struggle and the death of Chief MKO Abiola and his wife, Kudirat

n Nigeria’s political history, the names of the acclaimed winner of June 12, 1993 presidential election, Bashorun MKO Abiola and his wife, Kudirat, will always ring bells having paid the supreme price for the nation’s democracy. The roles they played before, during and after the election, which has been adjudged as the freest and fairest election in the political history of Nigeria, cannot be overlooked. On June 12, 1993 millions of Nigerians trooped out to perform their civic responsibility by voting for who leads the country between Abiola of the Social Democratic Party (SDP) and Alhaji Bashir Tofa of the National Republican Convention (NRC). Despite the enthusiasm of Nigerians towards the election, the chairman of the National Electoral Commission (NEC), Prof. Humphrey Nwosu, annulled the results so far announced on the directive of the Military President, General Ibrahim Babangida. The fallout of the annulment was unimaginable. Many Nigerians lost their lives and properties during the struggle for the revalidation of the election acclaimed to have been won by Abiola. The struggle was led by the National Democratic Coalition (NADECO) and other pro-democracy activists and civil society groups. The family that seemed to suffer most during the June 12 struggle, which lasted for about six years, was Abiola’s family. The business mogul cum politician died in government custody on June 7, 1998 and his wife, Kudirat, was assassinated in Lagos on June 4, 1996. Convinced by the contribution

of her parents to Nigeria’s democracy, Mrs Hafsat Abiola-Costello, on Tuesday, July 7 at her father’s house on Toyin Street, Ikeja unveiled a 75-minute documentary on her parents’ sacrifice for the nation’s democracy as part of activities to mark Abiola 17 years remembrance. The documentary titled “The Supreme Price” is a fascinating story about Nigeria and gives a compelling account of how Abiola, Kudirat, diplomats, elder statesmen and other pro-democracy activists and members of the civil societies, among others risked their lives to restore Abiola’s mandate. The documentary, which gets its title from Kudirat, who said she was willing to pay the “supreme price” to carry on her husband’s mission after he was jailed, also gives a detailed account of June 12 election, the struggle against the annulment of the election locally and internationally, and the supreme prices paid by MKO, Kudirat and other eminent Nigerians. It is a story of how Abiola came on the platform of HOPE and Farewell to Poverty. “The Supreme Price” is a documentary film produced and directed by Joanna Lipper. It traces the evolution of the pro-democracy movement in Nigeria and efforts to increase the participation of women in leadership roles. The documentary which was shot in Nigeria, America and Belgium features prominent personalities, among who are; MKO, Kudirat, Hafast; his two brothers,

When I was appointed by Bill Clinton as US Ambassador to Nigeria, I had expected that I will present my credentials to Abiola

Jamiu and Abdul, former United States of America Ambassador to Nigeria, Mr. Walter Carrington; Nobel Laureate, Prof. Wole Soyinka, All Progressives Congress (APC) national leader and former governor of Lagos State, Asiwaju Bola Tinubu, Abiola’s running mate, Alhaji Babagana Kingibe, Generals Ibrahim Babangida and Sani Abacha. The documentary shows Abiola and Kingibe on campaign train. Soyinka also spoke about the struggles. In the documentary, Carrington spoke about how he had thought to present his letter of credence to Abiola. “When I was appointed by Bill Clinton as US Ambassador to Nigeria, I had expected that I will present my credentials to Abiola, instead, there was a military coup that brought General Sani Abacha into power,” Carrington said in the documentary. In the documentary, Kudirat was seen organising many protests against the military regime. Hafsat spoke about how her mother’s phones were bugged by the military and every of her movement under watch by agents of the military. The tragic end of Kudirat came into play. The scene of how the agents of the state shot Kudirat in the head inside her car, the burial and the protests that followed the death. Speaking on the documentary, which was showed to selected journalists, human right activists and Nollywood stars, including former President of Nigeria Bar Associa-

tion (NBA), Dame Priscilia Kuye; President of Women Arise for Change Initiatives, Dr. Joe OkeiOdumakin, among others, AbiolaCostello said the documentary is about the spirit of June 12, saying her parents were worthy to be remembered because of the crucial roles they played in the struggle for the nation’s democracy. She also implored Nigerians, especially public office holders to emulate the virtue her parents died for, adding that people at the helms of affairs should be committed to delivering dividends of democracy to Nigerians to reduce poverty in the country. Her words: “We want to communicate to Nigerians through the documentary titled ‘The Supreme Price’ that we have history; that we have democracy and that our democracy did not just drop from the sky. There was a struggle for democracy that involved young people, labour, market women, activists, politicians and people in the military who believed in reform. It involved so many people across Nigeria. And it is beyond religion and ethnicity. And that democracy that we have today even though it is not perfect, we fought to have it and people died to have it and we should do whatever we can do to make it work. It cannot work if it is only about the elite’s interest in position and in power. It has to be about the popular interest in eating and having a descent way in having work and farewell to poverty. “I want people to learn that time is a privilege; it is not guaranteed and that everybody has deadline and end date. We don’t know when the end date is but we know everybody has an end date. And everybody in politics today; everyone on the political stage today, no matter what level they are operating, there would be a date they would be no more. It is so important now that we think of the future, how to make Nigeria great and what are the sacrifices needed for us to make Nigeria great. If we think about our personal interest, houses, women we want to marry, cars we want to buy, how we want to compete with friends and our enemies, and it can’t be anybody but me, then we are not ready to do what we need to do for Nigeria.” While stressing the need for Nigerians, especially women to be actively involved in politics, Abiola-Costello urged the electorate to monitor people in government for them to do their best. “We need to look at certain issues in our society. Right now we have eight per cent women representative in the political system. I think that percentage is too small. We need to do something to get about 30 per cent women representation. Let us also do something about the use of public funds. We shouldn’t leave government to the people at the top; we should be involved and informed. “We should work together to make sure that things function well in Nigeria. I have gone all CONTINUED ON PAGE 35

Abiola

Kudirat

Abacha

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WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Opinion A word for Mr. President Adewale Kupoluyi

s expected of any new administration, President Muhammadu Buhari recently approved the dissolution of the governing boards of all federal parastatals, agencies and institutions in the country. The affected federal parastatals, agencies and institutions include the Securities and Exchange Commission, the Nigerian Railway Corporation, the Economic and Financial Crimes Commission and the Independent Corrupt Practices and other related Offences Commission. Others are the Niger Delta Development Commission, National Universities Commission, Nigeria Customs Service, the Industrial Training Fund and all federal institutions of higher learning, among others. Until the boards are reconstituted, chief executive officers of the affected offices are mandated to refer all matters requiring the attention of their boards to the President, through the permanent secretaries of their supervising ministries. The dissolution order did not, however, affect federal executive bodies listed in the Nigerian 1999 Constitution, as amended, such as the Code of Conduct Bureau, Council of State, Federal Character Commission, Federal Civil Service Commission, the Independent National Electoral Commission, National Defence Council, National Economic Council, National Judicial Council, National Population Commission, National Security Council, the Police Service Commission and the Revenue Mobilisation, Allocation and Fiscal Commission, among others. After inauguration on May 29, the Buhari administration has been accused of being too slow and nonadherence to the principles of federal character as enshrined in the constitution while appointing Nigerians into political posts, as most of the major appointments so far made are said to favour the Northerners at the detriment of other parts of the country. By now, many people had expected the government to have in place, cabinet ministers and other top appointees, spreading

across the six geo-political zones of the country that would propel the engine room of the new government. In asmuch as cabinet ministers are important to the success of any government, the calibre of persons appointed on the boards of federal parastatals, agencies and institutions would largely affect the overall performance of the administration. Board members are meant to ensure that they exercise policy control over their respective offices by ensuring that they toe the line of the Federal Government. Hence, when wrong persons are chosen, who lack the basic pedigree, antecedent and proper leadership orientation, the government is bound to fail as the nation also suffers for it. That is why Nigerians should exercise patience with the government in taking this critical decision-making. Hence, President Buhari should ensure that the right persons are carefully chosen to drive the vision of his administration and by extension, his party, in the quest to attaining national transformation. No doubt, Nigerians expect much from the Buhari administration due to the persistent and poor governance that has become their lot over the years. This failure leadership could largely be responsible for why the people are impatient and earnestly looking for a miracle government that would speedily swing into action for them to start enjoying the dividends of democracy. Sadly in Nigeria, good governance is often sacrificed, leading to a criminalized economy, gross indiscipline, impunity, decrepit infrastructure, worsening insecurity and impoverished citizenry. Respected foreign bodies such as Transparency International and the Mo Ibrahim Foundation, which promote good governance globally, once ranked Nigeria poor in terms of performance on the composite good governance index, translating into dismal failure and the inability of the various state apparatus to fight corruption by deploying the nation’s abundant wealth for the socio-economic betterment of its citizens rather that the few bureaucrats and recycled politicians. Again, before making the appointments, President Buhari should remember to take into consideration,

the white paper on the 800-page report of the Presidential Committee on Rationalisation of Federal Government Parastatals, Commissions and Agencies, chaired by the former Head of the Federal Civil Service, Mr. Stephen Oronsaye, which made far-reaching recommendations for the scrapping of 102 federal statutory agencies from 263, the abolition of 38 agencies, merger of 52 and reversion of 14 to mere departments in some ministries and the discontinuation of government funding of professional bodies and councils. Unfortunately, nothing much has been done to implement the white paper, which is long overdue. Certainly, the implementation of the white paper would cut down costs and increase the efficiency of the parastatals and agencies involved. It is estimated that if the recommendations are carried out to the letter, government would save over N662 billion within three years, as the high cost of maintaining the public service has greatly hampered the country’s economic growth. For now, the country’s public service is not known to be optimally performing as it should be, even though it is patterned after that of the United Kingdom in bringing about modern civil service in the 19th century by encouraging efficiency, specialisation, division of labour and professionalism based on the principle of rationality, objectivity and consistency. To revamp the lost glory of our public service, there is an urgent need to appoint the right persons into the appropriate offices that would bring about the desired change, radical restructuring and transformation of federal bureaucracies. President Buhari should immediately revisit the numerous white papers idling away if he truly wants to succeed. Such reports include the Allison Ayida (1995) and the Ahmed Joda (1999), which made practical suggestions on how to re-professionalise an independent, neutral and non-partisan civil service, as an integral part of the entire Nigerian public service. •Kupoluyi writes from Federal University of Agriculture, Abeokuta (FUNAAB), adewalekupoluyi@yahoo.co.uk, @AdewaleKupoluyi, adewalekupoluyi.blogspot.com

GTB vs Innoson: Time for CBN to act Azuka Onwuka

ver the years, Guarantee Trust Bank (GTBank) has been able to build a reputation of bringing into the banking innovations that have helped to lift the industry to a new height. It offered exceptional products, excellence customer service and attractive structures cum ambience for customers to have relaxed experience while doing their transactions at the various branches. For instance, GTB was one of the first banks that deployed internet banking to daily transactions,even before many others followed suit. So, it is right to say here that GTB is a trendsetter in the Nigerian banking industry. But, the distinction must be made that these achievements were all recorded under the ingenious management led by the late Tayo Aderinokun, the former Managing Director who brought the dynamism and success the bank benefitted immensely from, which gave it the huge customer base it has continued to enjoy up till today. In fact, Aderinokun brought stability to the bank and earned for it a huge wealth of goodwill. May his soul continue to rest peacefully. However, it would seem that Tayo, like Steve Jobs of Apple, died with these attributes and goodwill, leaving GTB on the negative side in terms of

customer satisfaction, lately. Taking money from surplus sector to lend to the deficit sector is one of the core functions of any bank globally. Every other function can be loosely termed ancillary service. This is why banks belong to the service industry and as a matter of principle take customer satisfaction very serious by referring to them as ‘king’. They triumph among other competitors by ‘selling’ to the public unique customer service. And, the ability to drive this into the hearts of the customers is what actually makes bank “A” different from bank “B”. And when it comes to the curious charges the bank subjects the customers to, the experience is even more unpleasant. Very painful is that some of the charges are deducted from accounts for a services not rendered as has been proven in the suit instituted by the Innoson Group. “Painful”, in the sense that some of these customers hardly lodge formal complaint or do not even know how to go about it. It was this that GTB extended to the Innoson (one of the bank’s best customers and the nation’s number one car manufacturer) that resulted in the lingering shameful saga in and out of court, which observers believe is not in the bank’s best interest. For the benefit of those who have not been following the matter, a little background will suffice here. During the regime of President Olusegun

Obasanjo, Innoson imported some containers of motorcycle components and agricultural machines for assembly purposes at its plant in Nnewi, which were unlawfully seized by the Customs despite the fulfillment of all necessary requirements by the importer. Customs subsequently auctioned the goods worth billions of naira, which were allegedly bought by a female senator related to the then President at ridiculously low prices. Innoson sued Customs and the court ordered it to pay the plaintiff over N2 billion. GTB, which is one of the banks that manage Custom’s account, appealed the judgment, claiming that the Customs had no money with it, even though evidence showed that Customs had over 10 billion in its account with the bank. The appeal court later upheld the lower court’s judgment, but GTB went to the Supreme Court. Meanwhile, Innoson had earlier borrowed some money from GTB to finance an investment, and upon noticing that some sums were being questionably subtracted from its account, engaged its auditors to audit the account, which led to the discovery that the bank had illegally deducted some curious charges totaling about 700 million. Furthermore, Innoson successfully sued GTB, with the court ordering the bank to pay the company the sum of N560 million, plus some CBNsanctioned interests, which made the

penalty to continue to mount against GTB. Again, the bank appealed and the judgment was upheld (in favour of Innoson). Meanwhile last year, GTB got an ex parte order to freeze Innoson’s accounts in all the banks in Nigeria. The accounts remained frozen for nine good months until Innoson got a ruling last month which quashed the order. And to get redress for damages it suffered while the freeze lasted, particularly the crippling effect on its many businesses, Innoson then slammed a N30 billion suit on GTBank. Currently, Innoson has a N10 billion judgment debt against GTB with the interest mounting every day. Add the N30 billion likely to come from the case still pending at the Supreme Court, and you see a potentially scary picture. Are the teeming Nigerian youths who prefer GTB going to fold their arms and watch them kill Innoson that has attracted so much business to Nigeria to keep thousands of school leavers employed? It was the success Innoson enjoyed in auto manufacturing that attracted other brands to Nigeria. Today, apart from the return of Peugeot, the industry can boast of assembly plants for Honda, Nissan, Volkswagen, Hyundai, Kia and Renault, as well as the imminent arrival of TATA (owners of the Jaguar and Range Rover brands). • Onwuka, a commentator on public affairs, contributed this from Lagos.

EDITORIAL

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

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ravelling to the United Arab Emirates does not come with a flower of attractions without Dubai as focal point. Although it is one of the seven Emirates that make up the UAE, it enjoys the largest population, boasts of lots of tourist sites and passes as the business hub of the entire Middle East. Many young Nigerians who are eager to explore the fascination called Dubai and filled with stories of money falling on the gold paved floor to pick, are lured to the dazzle and sparkle of the destination point ,only to end up used, frustrated and dumped. The attraction is too tempting to miss. There is the Burj Khalifa, the World’s tallest man made structure, at 828 metres. Dubai boasts of the globe’s largest Flower Garden, the 72,000 square-metre Dubai Miracle Garden which was opened on Valentine Day, February 13, 2013. Add that to the touted Seven –Star hotel, Burj Al Arab, you get a clutch of adventurers giggling like school girls. The icing on the cake sounds like the Dubai Mall, the largest shopping Mall on planet Earth. Some Nigerians, unscrupulous in every sense of it, have turned the dream land to a nightmare . Unsuspecting young women including unemployed university graduates,

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The allure of Dubai are deceived with stories of abundant job opportunities in the land of Milk and Honey. Many of them end up as Ladies of the Night. It is a powerful ring. There are old friends who are believed to be living big in the UAE and they post stories of the good things of life to those in Nigeria. They carefully select the best places in the Emirates to take photographs. They claim to be working in one of the big Malls or pose as agents for the hundreds of real estate concerns. The pay is good, that is the message and there are more opportunities. In this period of uncertainity, many young women buy into the bait. Those who cannot afford flight tickets are connected to so called agents in Nigeria who are willing to help out albeit with a string attached. The intending travelers will pay back with some interest when they start their dream job in Dubai. It sounds like a good deal. However, that is when the ordeal of the ladies start. The moment you agree to the mouth watering offer, you begin to go through a thorough grooming for the trip. Many are asked to start applying all forms of cosmetics in order to look as fair as the Arabs. They are told that the fairer, the more the chances. Since poverty and jobless-

ness have a way of demeaning the human person, these ladies begin the process and end up travelling out for ‘greener pastures’. When they land in Dubai, they face tougher sanctions. The reception from the Airport starts with the collection of their travelling documents. They are driven straight into the waiting arms of an unknown face who turns out to be their new Mistress. The journey to prostitution has just begun. Instead of offices, the new arrivals are taken to hotels in town and told what their new vocation would be. About five or six of them are herded into a room to look for daily bread. They are well tutored. When a client knocks, just one of them will open the door, the others hide in any corner of the room until ‘business’ is over. Initially, the Mistress gives the impression that Arab clients have a lot of cash to burn and can give out some good Dirhams after a call. Conversion yields about 200,000 Naira. That would make it easier to refund the flight ticket loan. Story for the Marines. It does not happen. The cash does not flow as expected and the job seekers become the job they were looking for in the first instance. The lucky ones find a divine way of escape, by either sneaking out or calling for

help through Good Samaritans. One lady was said to have escaped with the help of an Indian casual worker while another got in touch with the Nigerian Embassy. There are many unlucky ones who are either stranded or lost in Dubai. The National Agency for the prohibition of Trafficking in Persons and other Related Matters[NAPTIP] has been doing a good job tracking some of these criminals who use fellow Nigerians as sex slaves. While we commend the efforts of the Federal Government in setting up NAPTIP, we also advise that more should be done in the area of youth empowerement through job creation. In the past, most migrant casual workers to the UAE were from India, Pakistan, Philippines, Sri Lanka, Ethiopia, Nepal, Eritrea, Bangladesh and even China. Many of them looked for better life outside. At the moment, Nigeria has overtaken some of these countries. UAE used Oil and Gas to develop infrastructure. Nigeria, an oil producing nation, should be concerned that our leaders squandered our oil wealth, forcing our countrymen and women into all kinds of shady professions in foreign lands. Africa’s Largest Economy cannot be exporting our young women when there are so many other natural resources begging for attention.

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WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Arts

Tony Okuyeme

aron of Broad Street’, a new book written by the critically acclaimed author of the bestselling ‘Nine Lives’ and winner of Ana-Jacarranda Prize for prose, will be presented to the public on Sunday, August 2, 2015. The book chronicles the polarized worlds of the Lagos impoverished and the affluent, living side-by-side, yet a world apart. It captures the limited prospect for mobility in an often negligent society, and the determination of a select crop of youths to take it upon themselves and change this seemingly rigid equation, by all means necessary. Disun Falodun and his bosom friend Ige are young boys growing up within the squeeze and squalor of Makoko. As they sit on the banks of the Lagos Lagoon, they contemplate life on the other side of town, the exclusive district of the Metropolis covering Ikoyi, Victoria Island, and, Broad Street that mysterious area, so distant, yet so close. Disun is the optimistic of the duo, resolute in his faith in a fair chance at success in Lagos, his ordinary background notwithstanding. Ige, on the other hand held by a vibrant, radical mind reasoning that the expectation of a fair chance was utopian, entrenches himself in the firm belief that the only reliable choices open to them were illicit. The road to realizing this ambition is lined with real dangers. Would they prevail? And if indeed they would, what prices are there to be paid...and, perhaps, more importantly, of what texture would their residual soul be? “The book focuses on contemporary Lagos; Conflicts (of a different kind - class, culture, identity, moral); Consciousness; a fresh conversation about who we are and a daring confrontation of the realities thereof,” said El Nukoya Written over a period of seven years, El Nukoya’s new book has received several endorsements and many accolades from the literary world. “Beautifully constructed,

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

Book Review

Nukoya’s Baron of Broad Street x-rays polarised worlds of Lagos El Nukoya brings places alive with such well-chosen words. I can see the scenes and feel the emotions, sophisticated, strong writing. El Nukoya astounds with amazingly sharp pieces of genius writing,” notes Cherry Mosteshar; Author of Unveiled. For the founder, Terra Kulture and creator/executive producer of Saro – The Musical, Bolanle Austen-Peters, Baron of Broad Street’, is “a brilliant novel written with

superb clarity and knowledge on Yoruba Language and the subcultures in Lagos! El Nukoya’s confident use of words draw you into the story, whilst working on your imagination. An absolute masterpiece”. Posits Toni Kan, the author of Nights of Creaking Bed, “El Nukoya paints the portrait of Lagos and of those who make it happen with broad strokes and a keen eye for detail. This is a Lagos story told with aplomb”.

Patrick Ekeji’s Odyssey: Victory at Sports Festival CONTINUED FROM LAST WEEK

As I stated previously, my name was post-scripted with Health and Physical Education (HPE) as my field of study. I told him I did not know what HPE was about, nor understand how the course was chosen for me. “Power House,” as he fondly called me “I know you are good enough to be an engineer like myself, or a doctor as you most desire, but go and study the course. When you get there, you will find out what it is about and in the future when you talk sports, Nigeria will listen.” He was right. P&T VASCO DA GAMA 1973 I was a welcome guest in Vasco by all officials and teammates. I came along from HOGOSCO with Obed Ariri, my classmate, and John Nwadioha, both very talented and skilful attackers. Obed and I turned around HOGOSCO team in 1971. Nwadioha joined us to conclude his WASC in 1972. The three of us would be the nucleus of Vasco around who Coach Alabi Aisien would build his team. Coach Alabi was undoubtedly one of Nigeria’s finest in the field. Trained in Leipzig, then in Communist East Germany, he understood, expressed and demonstrated all the elements of good football coaching and I admit that I imbibed so much of his abilities in my subsequent applications of the art in that profession. He was himself, a very skilful midfielder in his days as a footballer in Amukpe Eleven (Western Region). That was in the 1960s. He raised a Vasco that gave Rangers a good run in the 1973/74 league season. Dan Anyiam who then was coach of Rangers and State

Chief Coach, built his team on strength, Alabi built his on strategies. In the two league games of that season, Vasco ran away with three out of the four available league points, having defeated Rangers 2-1 in the first and drawn 1-1 in the second home derbies. Vasco later suffered an unanticipated and embarrassing 1-3 home defeat from Raca Rovers of Kano to crash to a distant third place in that season. We never recovered from that loss as we also went down 1-0 to Rangers in the State Challenge cup final. Notwithstanding the setbacks, my skills, strength and understanding of many elements of the “beautiful game” blossomed. I improved in leaps and bounds and stood tall against the best in Rangers. Since I had carved a niche for myself in the region, I believed I should be in the National Team—the Green Eagles—but it seemed I had not been noticed by ‘Father’ Tiko, who was National Coach then. I had to figure out how to get a call-up. VICTORY AT THE 1ST NATIONAL SPORTS FESTIVAL, 1973 Bendel Insurance FC won the highly contested and exciting league in 1973. The 1st National Sports Festival (NSF) was also held in Lagos same year. The then twelve States of the country were all getting ready for this first-of-itskind sports event. The East Central State squad, known as the “Spartans”, was built largely from Rangers and Vasco. It was not difficult for Dan Anyiam to produce and blend the team which emerged the eventual winners of the football event. I recall these two interesting camp experiences. The East Central State con-

tingent was camped at the University of Nigeria, Nsukka campus. After our very first training session, Dan called me and requested to know if I was the young boy who approached him sometime in 1971 at the Enugu Stadium (now Nnamdi Azikiwe stadium). I said I was. “Why didn’t you come back?” he asked. I told him the story of how I went back to Holy Ghost College for my HSC. He shook my hand and wished me well. The second experience was at one of our pre-final selection training sessions. My side was pitted against Nwabueze Nwankwo’s. He was one of the ‘senior boys’ in Rangers. Much as I may have become very visible, I was still timid in my relationship with the ‘big Rangers Boys’. I was not yet city-wise. Nwabueze Nwankwo, a defensive midfielder for Rangers usually had the role of the ‘terminator’ of troublesome opponent attackers and he was good at that. In due course, I learnt the long throw-in skill from him. Nwabueze ruffled me so much I almost ran away. In fact, I was on the verge of pleading

with Dan Anyiam to let me go. I guess Dan saw through me as well as read the intentions of Nwabueze. At one of his vicious and dangerous tackles on me, Dan stopped the game, warned him but reminded him that I would grow one day. I picked up courage after that. When he next came at me once again like a bull, I gave it back to him square and good. He took a long time recovering from the injury. We were now equals; he respected me after that! Dan continued to encourage me, even in little ways. On the day the contingent set out from Nsukka to Lagos, Dan invited Goddy Ogbueze, Ken Ilodigwe and myself to ride with him in his Ford Taunus. Of course we were quite excited to go with him while others rode in the bus provided for the contingent. It was not a particularly fun ride. Dan was on the steering and indeed it was by an act of Providence that we arrived Lagos safely; we had a handful of close shaves with oncoming vehicles and he blamed the other driver on each near mishap. CONTINUES NEXT WEEK

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

LIFE IN THE CITY

MY CITY, MY WORLD

Dealing with the Boko Haram threat

Land with so many varieties

Typical of Lagos commercial buses to keep their doors open while calling passengers

Courting death Death is a necessary end that must come when it will, as said. Ironically, many deaths around us today are caused by carelessness. What can we say of Lagos commuter bus drivers and their conductors that permanently allow their doors open while speeding on highways? EZURIKE UGOCHUKWU looks at the trend

erhaps, the death of Mrs. Adebowale Naphisat, a final year student of Lagos State University, LASU, could have been averted assuming a passenger had insisted on the conductor closing the door

of the bus. Lagos commercial bus drivers have made keeping their doors open, a norm even when it is against the law. Mr. Gibson Akintunji, a Lagos resident, was one of the few Lagosians that have vowed never to commute in any of the commercial buses commonly known as Danfo, whose door will never be closed even on motion. His reasons are not far fetched. “It was on a Tuesday, I left office around 2pm, a period known as non-peak hour of traffic in Lagos. As I entered OLUWATOSIN OMONIYI the bus at Stadium bus stop, CITY Editor Surulere, I happened to be tosin.omoniyi@newtelegraphonline.com the 14th passenger in the bus which is its maximum capac© Daily Telegraph Publishing Company Limited ity. The driver fired the bus to a high speed. At Onipanu,

It is a norm for Lagos commercial bus drivers to keep their doors open

a petrol tanker in front of our bus, also on high speed had one of the tyres suddenly lost. The truck stopped abruptly. In that situation, our driver tried to stop instantly but as difficult as that seemed, he jerked the bus, skidded on the tar and veered off towards the narrow space on the right. In the cause of all these manoeuvrings and tumbling, three passengers close to the unlocked door fell off from the bus, including myself. One of us (that fell off) an aged woman was reported to have died two days later in a hospital. I sustained so much injury; on my head, hand, ankle, buttocks and fracture on my hand. Till today, six years after, I am still struggling with

recovery. Not only I’m in pains, I can’t do any meaningful thing with the hand again.” Many Lagosians have frowned over this death porridge being served them daily by bus drivers and their conductors on their reckless act of keeping the doors of the vehicle open, with the aim of getting passengers. Mr. Linus Omogene, a Federal Civil servant said, “many people in this part of the country don’t bother on what happens in the vehicles they board at times nor do they care where they sit inside the bus. Some will even lap two children and sit by the door way of a fast moving vehicle, a very scary CONTINUED ON PAGE 18

Life | Mega City

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

CONTINUED FROM PAGE 21

situation but I observe that nobody cares about it. It’s unfortunate we don’t keep record of number of accident and eventual deaths daily on account of such carefree attitude of people. The police are only interested in collecting money from unfortunate culprits; a situation that has emboldened most of them to relish on the credence that all it will take is to settle the police whom they are already in alliance with. Stringent measures should be put in place to check this odious death sentence,” he said. Mrs Salome Akinkumi , a teacher, expressed worries on the way women, especially mothers, close their eyes in the face of danger. She decried the level at which drivers and their conductors in Lagos shed rivers of innocent blood in the name of transport commuting. “When I passed through Igando that Monday morning, the LASU student was crushed by the unsuspecting truck, I wept bitterly but on another thought, I wondered and cringed on what will make a pregnant lady to accept sitting by the bus door that was open,” she stated. Most drivers do not see it as an issue, especially those young and unkempt men among them that take all sorts of soul lifting substances (alcohol) while on steering. But for the rational ones among them, it’s a worrisome situation. No sensible driver will allow his conductor to hang by the door especially on the highway, aware that if anything happens, he is not safe from the persecution and vilifying that will follow afterwards. Mr. Opeyemi Rashid is a commercial bus driver that plies Iyana Ipaja- Igando-Iyana Iba routes. He sees drivers condoning such as irresponsible and greedy. “When you see some greedy drivers that allow their conductors sell out their seats, thereby compelling them to squat or stand by the door, such people are narrow minded, forgetting the its loss outweighs the gains. I don’t condone my conductor standing at all.” He said. A conductor, who wouldn’t want his name in print, said some drivers force them to surrender their seats to passengers to make more money. He explained that most of the conductors are hired only for the day and most drivers wouldn’t like to see them(conductors) occupying a seat. He added that even some passengers see them as being dull for sitting down in the bus. “Standing enables us to prospect passengers from afar and motion them to enter our bus. Often times, it afford us opportunity to gain some fresh air in the hot weathered hours. Some passengers insist on our permanently keeping the door ajar since some of them claim nauseated with our closeness to them in the bus. Some dubious conductors exploit the standing advantage to stay off the drivers gaze and hide some money,” he concluded. The situation could probably be minimised if the National Union of Road Transport Workers (NURTW) would insist on drivers and their conductors complying

A busy commercial bus stop

An invitation to death with closing doors, save for bus stops only, the same way they have their men at every bus stop collecting money. Daramosu Aminu, a Lagos resident said, “The drivers respect their union more than every other agency. They are like gods to them.” Efforts to speak with the state chairman of NURTW, Alhaji Tajudeen Agbeje or any other official of the union yielded no fruits as all the officials on seat at the secretariat appear not ready to release any phone numbers of the chairman and other officials claimed not to be on seat to our reporter. The Public Relations Officer of the Lagos State Traffic Management Agency, LATSMA, Bola Ajao, maintained that safety should be a collective bargain. That the agency has been carrying out several awareness campaigns. “We have had various advocacy campaigns even in motor parks; we have printed posters speaking against that. On many occasions, we have stopped such vehicles; also, passengers have on many occasions risen against us, insisting the drivers have not done anything wrong by keeping doors open. We keep on enlightening. We even went with the health ministry to check their alcohol percentage. We don’t enjoy arresting or impounding vehicles, but we prefer voluntary compliance. All we ask is that all hands must be on deck to enlighten our people. By closing doors, the person by the door side has been saved from an unnecessary death.” She said. She however promises to mobilise their enlightenment team to Isheri –Igando road.

Passengers sitting by the open door and a conductor calling passengers

Some passengers insist on our permanently keeping the door ajar

Life | In The City

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Perennial gridlock Apapa-Oshodi expressway has consistently been in the news because of the perpetual gridlock which has almost become a permanent feature of the road. Hence, the difficulty of commuters on that road, seemingly, is not one to abate soon as another portion of the expressway, between Berliet and Ilasamaja busstops, is obstructing free flow of transportation. ELIJAH SAMUEL reports

t appears that those who ply the Apapa-Oshodi expressway would have to endure a little more. Why? The dilapidation which now characterises some portions of this very important access route is now a source of worry to the residents. Almost throughout the length of the road are deep potholes, thereby making driving very bumpy and uncomfortable. The asphalt on the surface of the road has totally worn off while the median stones between the fast lane and the service lane are breaking into pieces. In fact, the road looks very old, almost wearing the look of an ancient town that is yet to witness civilization. Motorists groan while commuting on this expressway as a result of the perennial gridlock being caused by a collection of potholes which now adorn the stretch of the road between Berliet and Ilasamaja Bus-Stops. No doubt the road is strategic both to the residents in the state, visitors from the West African states and the Federal Government. It is a linkage route to important centres of economic activities and entry points (Apapa and Tin-Can sea ports and Muritala International Airport) into the country. For the bulk of the road users, Apapa-Oshodi expressway is too important to be left to deterioration. Most people believe that what the road needs at the moment is complete rebuilding. Tope Baderinwa, a businessman, who plies the road to his work place at Gbagada on daily basis said; “The bad portion of the expressway is bad. With this, there is no way anybody will not reduce his speed in order to meander through the many potholes that are replete on the road. Because of the volume of vehicles moving at any given time, once speed is reduced as a result of these bad spots, the other vehicles com-

A patched pot hole on the expressway

ing at the rear would have to follow suit, hence the traffic builds up,” Baderinwa noted that obviously, the road needs urgent reconstruction because dilapidation has become a recurring dilemma on the road. He said the government’s road maintenance agency has always done palliatives on the road. No sooner would they have fixed the road than the road began to wear away most times, according to him. Dennis Ikeji is a transporter, whose regular route is between Apapa and Oshodi. He decried the pains and loss of productive hours being experienced daily, as a result of the gridlock which the damaged road is causing to the travelling public on that axis. “We are not happy that this road is causing so much pain to us that are using it. Unfortunately, some of us don’t have a choice, as we operate our business travelling on this road. Because of driving through this dilapidated road every day, there is hardly any week, since the past four weeks, that I didn’t visit the mechanic workshop,” he said. Proffering solution to the ruined state of the road, Ikeji admonished that rebuilding the road is the only way out. Thus, the completion of what was started and stopped by the previous administration should be uppermost on the list of works to be embarked upon in Lagos State by the present federal administration. “This road should be given preference in the list of works to be carried out in Lagos State by the Federal Government since it is a federal road. When you drive from Apapa or Mile 2, it is a

This road should be given preference in the list of works to be carried out in Lagos

smooth drive up till Cele busStop where the first phase of the reconstruction project terminated. As we can see all around the road, the asphalt on the surface has worn off while the median stones especially between the fast lane and the service lane are falling away. The road is very old; its reconstruction is long due.” With the way traffic has been on the stressed axis of the expressway, it has affected many people in diverse ways. New Telegraph found out that while many are lamenting its effect, many are counting the gains of the gridlock in the area. Chidubem Nnorom is one of the traffic hawkers on the expressway. He makes a living by selling iced bottled water, minerals and other goods. He found opportunity to make sales in any traffic build-up, meandering through vehicles while trying hard to sell his goods, chanting “cold water, cold minerals.” He said: “You know we have to survive, and that’s why we seize the opportunity of gridlock to sell our goods. I have to really hustle so that I can make good sales; the more the presence of traffic jams on this expressway, the more profitable for me”. Nnorom concluded by saying that as much as he prays for government’s intervention, he also prays earnestly for a continuous presence of traffic on the road so as to still be in business. However, Alhaji Kabir Bichi, one of the traders in furniture materials around the vicinity, lamented that the gridlock in the area is taking a toll on their businesses. The low patronage of potential customers is attributed to the traffic.

“Although the economy is not so rosy at the moment, somewhat, we still make relative good sales. But we started witnessing drop in sales since the gridlock began some months ago. We realize the reason for this may be because not many would want to come around here because of the pains of driving and staying in the traffic.” Efforts made to get reactions of the Federal Road Maintenance Agency (FERMA) was not successful as phone calls put across to the Lagos office did not go through. Also, calls put across to the office of Permanent Secretary of Lagos State Ministry of Works and Infrastructure was not responded to. But the New Zonal Commander for Lagos/Ogun, Federal Road Safety Commission (FRSC), and Assistant Corps Marshal Nseobong Akpabio in online interview has assured Lagosians that the Apapa/Oshodi traffic will disappear latest by September. He said FRSC has been holding meetings with various transport unions in the state over the issue. “FRSC cannot do it alone.” Apapa issue, he said, has been there for some time because of the strategic location of the area. There are a lot of activities going on there. He added that there are over 35 tank farms in the area and tankers come from various parts of the country to load. “So it should be decentralized so that some could go to other states to get their products. Also our pipe lines should be working to channel the products and the use of train should be functional. By September, there will be an improvement because all the stakeholders are concerned with the issue but people should be patient,” he said.

Life | Mega City

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Dealing with Boko Haram threat It has not happened. But not a few Lagosians believe that Boko Haram insurgents might one day try their luck on the commercial nerve of the country. ELIJAH SAMUEL explored the preparedness of the citizens of the state on the impending threat

ntil it broke out a few years ago, the kind of guerrilla warfare being waged by the members of the Boko Haram sect against Nigeria government and hapless Nigerians was alien in the annals of the country. Mostly, the ruinous onslaughts which have claimed thousands of lives have been carried out in the north, especially the north eastern part of the country which is considered as the stronghold of the insurgents. The possibility of a Boko haram attack cannot be overlooked, given the fact that similar attacks have been carried out in the recent past. However, as the New Telegraph found out in a few public places around the metropolis, it was mixed reaction for the residents towards the issue of security. Many are oblivious of the possibility of attack; many are indifferent; yet many are getting proactive. Chukwujeku Onwughalu, the Chairman of Dynasty Bar and Club in Lagos, with a benefit of access to privileged information, believes that the possibility of an attack in the state by Boko Haram elements is real. “I had some information from informed security operatives in the country that the Boko Haram sect is planning to attack Lagos and Bayelsa States. They warned that everybody should be careful and security conscious.” Retired Group Captain John Ojikutu, a security expert and a public analyst, is worried about non-commitment of the relevant authorities to the protection of some infrastructures in Lagos, as well as in other parts of the country. He posited that not securing the public infrastructure like bridges, airports and seaports, markets and others make the citizens more vulnerable to danger of attack. He said: “About four-five years ago, I started asking about who is keeping watch over your bridge that connects Lagos Island to Lagos Mainland. I have asked them long ago about who is keeping watch over the motor parks, the markets, the shopping malls where there are people, the airports, the seaports, the Atlas Cove where they are pumping fuel to other parts of the state and the country? I told then Governor Babtunde Fashola to stop motorcycle otherwise called Okada from plying the Lagos bridges. Even though it took the government sometime, they agreed and eventually stopped them. They drove them from the North and found their way to this place; they have infiltrated the rank of those Okada operators here.” Expressing fear that never before has the threat of Boko Haram insurgency in Lagos become more real than in the contemporary times, Tunde Kolawole, a lawyer said: “You will recall that there was a bomb blast in Apapa last year; that is the confirmation that they are around. They may be lying low for now but they are

Beefing up the state security

A rowdy Lagos

on ground. That they could go to Apapa and effortlessly plant a bomb in a depot is a confirmation that they are already on ground: they are probably grooming themselves and stockpiling arms and ammunition before they launch a serious offensive.” Kolawole explained that, usually, a guerrilla army like the Boko Haram will usually open war on many fronts to ease pressure on them. He projected that Lagos and Benin will turn into theatres of war so as to be able to divert attention from them and ease off tension that is already mounted on them In many public places and worship centres visited by New Telegraph across the state, it was observed that Lagosians were oblivious of the possibility of Boko Haram attack. Whether in the markets, motor parks, churches and others, the residents were seen going about their activities normally as they have always done. A church leader in one of the Pentecostal churches in the state, Pastor Jeff Aken, although acknowledged high degree of complacency in many churches, stated that the church cannot afford to trivialise the issue of security. “We are not really doing anything now but I know in the recent past when churches were using metal detectors to screen worshippers during major programmes. That practice has died down a bit. But it is good that the churches get proactive about it by doing all that they can do to enhance the security of the worshippers. The truth

If anything happens to Lagos, it will affect the entire country

is that the church cannot claim ignorance about the tactics of the insurgents, and so choose to be complacent.” But in the face of likely attack, many believe that all hands must be on deck and that no stone should be left unturned in taking proactive measures which will ward off any untoward occurrence in the metropolis. Onwughalu advocates that community watch, beefing up security with all the necessary security gadgets will not be out of place as there will be some bomb detectors and beef up security around the club. Not minding the sex or the age of whoever comes to the club, everybody will be screened, he said. “Now, we are taking the security around us seriously because we don’t want to take chances. Nothing must happen to Lagos; if anything happens to Lagos, it will affect the entire country,” he emphasised For Ojikutu, winning the war depends largely on how much intelligence the government can access and to a large extent on the strategic analysis and application of the intelligence. “The fear to put a lot of intelligence on the war is the issue. Intelligence is about 70 per cent part of a war, the remaining is just practical. Intelligence is not information; intelligence is when you have information, you analyse it. It is the ability to launch into the hearts of the enemies and tackle them before they become operational. But most of the time, they become operational before we tackle them. With intelligence, you move ahead of them. That’s why the question on who

is keeping watch on the bridges and other public facilities is very pertinent. They can strike and blow off the bridges and thereby cut everybody out.” He added that there is the compelling need for the government to unveil who the sponsors of the insurgency in the country are, and also unravel their modus operandi and other logistics being deployed in their dastard acts. “We need to take their war to them. If they are now using small girls, we need to know who they are, where have taken them for indoctrination. We need to know who the sponsors are. “There are three layers to approach the Boko Haram issue: the sponsors, the planners and the foot soldiers. If you can get the sponsors, the planners will have no money to give to the foot soldiers. If you can get the planners, there will be nothing strategic to give to the foot soldiers. This is very important because the foot soldiers depend on the planners and the sponsors. All the ones they are arresting here and there are just the foot soldiers. The government needs to discover who the sponsors and the planners are before the war against Boko Haram can be won.” Yet, another approach to unravelling the sponsors of the insurgents, as being suggested, is to get information on the vehicle they are using in their operations. “The government can get information through the chasis number of their vehicles: they will know which company sold the vehicles to them, who ordered and paid for them, and they can trace it to country where the vehicles were manufactured. “If the government can get some of these children they are using before they become operational, they will get information and know who to go after.” For Tunde Kolawole, sensitization of the people through the media, public surveillance and the widespread installation of security gadgets in strategic places across the state are key factors needed to be applied in the effort to ward off attack in the state. He suggested the following steps as ways to tackle security risk: The government requires a sensitization programme through the mass media, especially the electronics media, for people to be informed and be vigilant regarding the activities of the Islamic fundamentalists. They also require to put the landlords and landladies on notice to always carry out diligent surveillance on whatever tenants they are letting their property to; they also need to sensitize the imams of different mosques on the need to be vigilant as regards who may be taking sanctuary in their mosques. Thirdly, Lagos State requires to intensify the installation of CCTV cameras in strategic places so be able to monitor the movement of the people within Lagos, and in and out,” he said.

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Odo; under the bridge, route for motorists and pedestrians

Okocha Ruth

ust as residents living between the axis of Lagos and Ogun states rejoiced on the ongoing road project in Odo -Yakoyo area of Ojodu, Lagos State, their joy became short lived as the project came to an abrupt end. The road has become a menace for those living within that axis and for Lagos workers living in that area as the road serves as a major link between the popular Ojodu- Berger and Alagbole in Ogun State. Since Lagos has become a mega city and the hub of economic and social affairs, many of Ogun State residents migrate into Lagos in search of greener pastures and social life, and Lagosians who cannot afford the exorbitant price of accommodation in Lagos State simply moved down to the Odo axis. During a visit to the road, New Telegraph gathered from residents that the project, which was politically motivated started mid last year-at the approach

A dumpsite under the incomplete bridge

The abandoned Odo Bridge of elections but came to an end just as elections ended. Several weeks after swearing in, residents and motorists are still on the lookout for continuation. Many of the workers claimed they pay tax to the Lagos State government, so they expect the two states to come together to repair the roads. Apart from that, part of Alagbole belongs to the Lagos State government. The road, which has gradually degenerated into a mess, was proposed to have an overhead bridge because pillars have been placed on either sides of the road which will serve as a passage for motorist and pedestrians. The bridge became a paramount need as there is a river in the area and the narrow roads needed to be expanded. Also, there is a refuse dump very close to the road. There are various large pot-holes on the road, covered with murky stagnant water

Now that the road has been abandoned, it’s worse than what it used to be

and damaged vehicles. As the rainy season continues, majority of Lagos workers struggle to beat heavy traffic by leaving their homes at the early hours (4.30am) and for the unlucky ones, they get stuck in heavy traffic, some even had accident. Majority of Lagos workers have been forced to pack out of their own houses into rented apartments outside the Odo area due to the bad shape of the road. According to Nayon Amosun, an auditor working in Lekki, “I left my own house and packed to Gbagada because I have to wake up early daily to beat the traffic snarl. I also observed that I constantly repair my car because the road was damaging it. When I calculated the huge amount I spend repairing my car, the stress of waking up early and returning late to beat the gridlock, together with the stress I pass through daily, I opt-

ed to renting an apartment outside that axis. But, I come once a while to see my aged parents.” For Gary Uwagboa, an Engineer working on the Island, he sleeps in the office to beat the stress of the road and to be able to meet his office resumption time. “The road becomes so worse during rainy season that it gives me nightmare. Because I don’t have enough money to rent a house outside Odo, I sleep in my office which is very cold. I come home weekends. Assuming the road was in a good state, the cost of transportation would reduce and the traffic lighter. This road is shorter than other roads leading to Berger, which is why many people still use it.” Gift Nwanze, a tailor said she uses the road occasionally when going to Ikeja and it is worse now because the rain has come. “Two days ago, I fell into the murky water, though I was on a bike, the bike hit a stone in the water and we fell. I sustained minor injury. So, I had to return home to change and begin my trip again. At night, we pay more than we spend during the day. All this is as a result of bad road. It’s as if government of both states have abandoned this area. They should both remember to keep the promises made during campaign.” Bunmi Komolafe, a teacher said “When this construction started, the road became twice as congested. People had to get down from their bike to cross on foot because it was not passable. Still we didn’t complain because we felt there will be an end result. Now the road has been abandoned and it’s worse than what it used to be. We plead with the government to resume the work on this road to make life easier for vehicles and pedestrians. Each time I use this road, my heart skips because of the ditch on both sides of the road, I hope government heed the complain of its people.”

Life | Mega City

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

A thought for their safety Some attribute it to hard time, paucity of fund, while to many others, it is cost saving. To most girls also, they are using what they have to get what they want reports OLUSEGUN GIWA

t is a common sight in Lagos and virtually every part of the country to see travellers standing some metres away from designated motor parks; some 100mtres, while some 300metres or more. It’s believed that the farther one goes away from the various motor parks, the less the costs. This practice of hanging outside the park to get commuter vehicles at cheaper fares-hitchhiking- has a very popular version also called ‘lifting’. It’s primarily practiced by ladies who take advantage of their womanhood for such or material profits. Unfortunately, many have lost their lives through this while some have been dispossessed of their money and other valuables. Mr. Tope Owoyele said that without hanging for cheap transport, there is no way he could measure up financially, going by the meagre salary he receives. “God has been on my side. Over 20years now, I can’t recall entering a motor park to board a vehicle. Not because I don’t like it, but because my salary is too little to take care of my essential needs and pay high transport fare that is charged there. People complain of robbery or one chance, I have never experienced such before irrespective of the hour and may God not allow me experience it,” he said. Many others still, once a vehicle stops on the highway for them to enter, apart from Motor Park, they will start running. To such, they will not embark on a journey by going into the motor park to board vehicles. By so doing, they will know the identity of the vehicle they have entered. Different strokes for different folks, as the saying goes. Mrs. Blessing Bello is a mother of three. She reeled out the ordeal of her family when her only daughter mistakenly boarded a vehicle driven by ritualists on her way from Ibadan to Lagos. “My daughter, Jane, was coming back from school sometime last year. According to her, she hadn’t enough money to pay the fare at the park. She decided to stand on the highway with other students to enable them get a cheaper vehicle fare to Lagos. Not long after they waited, a car pulled up. It had the driver and one other person in the car. The driver told them that he needs only two more people. By then, she had entered with another girl whom she didn’t know, who has also been standing all along with them. “She said she became nervous when she understood that the girl knows them and could be one of them. It wasn’t long they left the junction from where she was picked, she became dizzy. That was the much she could recall not until when she woke and realized she was at a hospital in Edo State. It was

Stranded commuters queue while waiting for bus to board

It is compulsory for every passengers to fill the Vehicle Passengers Manifest

three days after she left school that my husband was informed about her whereabout. When we got to the hospital, we were told how she was rescued by some hunters from the clutches of ritualists. But they were unlucky that when they wanted to kill her, the hunters shouted and threatened to kill them. They abandoned her and ran away. The hunters took her to the police; it was from there that she was taken to the hospital.” She fervently warned her children never to indulge in hitchhiking of any sort. Bello went further to advise that with the usage of the Vehicle Passenger Manifest (MPV) also called ‘Rama Paper’ in the interstates transport system in the state, the motor park is a better option for travellers especially inter-state. With it, a passenger’s relations could be contacted in the case of any emergency. However, it will be difficult if not impossible to monitor the intra-state transportation since parks cannot be built all the places. People cannot be expected to be in waiting in a park to get booked in a manifest for a very short distanced trip. It only calls for caution on the side of addict hitchhikers. It’s not only the passengers that are at endangered, car owners often times innocently carry gang of bandits as passengers. Mr. Musa Waheed, a bus driver in Mosafejo Motor Park in Oshodi believes that some passengers stand on the road on a genuine reason of dearth of fund “some passengers that indulge in hitchhiking are really insolvent while some have the money but want something cheap, forgetting anything got cheap has a reverse effect.” Another driver, Mr. Sikiru Adewale, is support of board-

A motor park in Lagos

ing vehicles at the park, “It is compulsory for every passenger to fill the Rama paper (Vehicle Passengers Manifest) before we take off to wherever we are going. This helps to know how many passengers and which motor park they boarded bus in event of any contingency. The danger in picking passengers on the way is double sided. Both the driver and the passengers are at risk.” Mr. Lagunju Oyemade, driver, Oregun Branch in Ojota said the law of the National Union of Road Transport Workers,NURTW, do not accommodate hitchhiking. According to him, their manifest could be cross-checked on the way. “Those people that decide on free and cheaper fares to their destination believe it is cheaper and fast instead of paying the full amount and waiting for the bus to get filled at the busstops. The practice is common

with passengers from Lagos to Ilorin, Ibadan, Ede and Iwo. Some private car owners are said to engage in the practice because, they find it lonely and boring to travel alone as understood by Mr. Arthur Omowho, a staff of Farry motors, Ojota. “The ‘my car’ (private car owners) drivers do it a lot. Some even carry people on the way without pay. In our company, we are strictly warned against it and we adhere to it because job is scarce. Some drivers are still in the practice and may not know that our vehicles have trackers built in them,” he said. It is a common sight in Lagos and virtually every part of the country to see travellers standing some metres away from designated motor parks; some 100mtres, while some 300metres or more. It’s believed that the farther one goes away from the various motor parks, the less the costs.

Life | In The City 23

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

My City, My World I expect a Lagos of justice Elijah Samuel atti Olalekan a legal pracM titioner wants Akinwunmi Ambode to ensure the adjudi-

A gas plant station

Transiting from kerosene to gas Segun Giwa

imes are changing and the demand for gas cooker, popularly known as camp gas is growing. The evolution of cooking from the use of fire wood, charcoal, kerosene stove, electric cooker and now camp gas is taking the centre stage in the kitchen. The use of camp gas is one of the things trending now in the state and has won the heart of most families. This so called camp gas has prevailed so much in many Lagos homes that it has almost sent kerosene stoves into extinction. So much for the camp gas and its usefulness; many families, restaurants and even students is the fact that it serves any category of persons; the old and the young irrespective of their level of literacy. In other words, the camp gas can be seen as an upgrade of stove. One major reason for this development can be linked to the price difference between kerosine and gas. One cannot always be certain of the purchase price of kerosene as much as to predict that of gas. The unstableness in the supply of kerosene and its fluctuating price is another factor that is seeing to the fast extinction of kerosene stoves. The use of camp gas requires a great amount of carefulness. Although the cooking stove, increases health problems generated from the smoke, the camp gas prevents all this from happening but the advantage the use of gas has can also be compared to the danger it poses in every neighbourhood if care is not taken while using it. According to Miss Enoho Judith, a student, the use of camp gas has really helped her because it just makes her work easier and neat, no smoke. “When I was using kerosene stove, it was stressful because I used to clean a lot due of the soothe it causes. But using the gas is cheap, fast and convenient. It is also economically wise, so that is the reason I opt for cam gas”. Mrs. Adenekan Abayomi corroborated Enoho that, “It is true that gas is what is used by most

Kerosene stove

people for cooking nowadays. Right from my days in the university, I used to sell kerosene. Of course, I was very careful about it, but it was okay because it was very profitable. By the time I got married, I was already selling kerosene on a large scale. I have my kerosene tank and I have my regular supplier. Since people have started to make use of gas cylinders, business has not been the same for me. It dwindled. In fact, only people that are not very calculative or have little children at home still use kerosene stove. The truth is, gas is actually cheaper. If you buy gas for N3,000, it will last for about a month or more, depending on the usage. But if you buy a litre of kerosene at N100, because the price fluctuates a lot, you can finish that within a day. So imagine a litre at N100, for thirty days in a month, that’s N3000. And the reality is that you would buy more than a litre a lot of times. So cooking with gas is what people do now. People still buy kerosene, mostly for industrial purposes, but not as much as before.” Adenike Olawunmi, a kerosine seller, said “ There are many people who have preference for gas cooker due to its advantages, it is easier to gauge, adjust and less expensive. “Everyone is willing to own a gas cylinder if the opportunity is there. Nine out of 10 households cook at least once every day and majority of people now opt for it which affects my business. My

cation of justice becomes independent unlike before, where we have some powerful people in Lagos, who always have their way Lekan because they have money and because they are familiar with government officials. I am expecting a Lagos that is very neutral on any issue concerning it and as a result there will be all round justice. Am expecting a Lagos, where litigants will go to court and lawyers and judges will be able to predict the outcome of the trial according to the constitution. From experience, we have some matters which ought not to be in court and there are also some individuals who has being in police custody for years awaiting trial but never got justice. I want the government to act promptly and accordingly concerning their issue. The level of crime in Lagos has increase, boys are seen holding cutlass and guns on the street, all this are instigated by politician but if the new government should shun those practices by the present administration, then Lagosians will be able to enjoy the mega city we are all clamoring for. If there is justice in the new government, I believe everything will be perfect because it will affect our economy, education, proper accountability in the government will be insured knowing fully well that if they embezzle money the law will hold them responsible. But if the new government cannot ensure an independent judiciary, change can never take place. Lawyers face the challenge of unemployment, many qualified lawyers are wondering around, some of our employers always want to underpay us, the MBA which is supposed to protect the lawyers are after money, once they collect money, they forget their responsibility. If the government enacts a law which legal practitioners must follow, I believe there will be proper coordination.

Land with so many varieties Gas stove

sales is now low. It is not as good and steady has it used to be,” she said. The Manager, of Tewa Gas plant, Isheri, Miss. Betty Oseni said: “The use of gas is safer, convenient and cheaper. The gas cylinder usually has a duration of about five years before it is prone to leakage, though one has to be careful. Kerosene is actually expensive, much more expensive than gas is. Kerosene is mixed these days and it dries up easily. Charcoal is also almost as expensive as kerosene. I know a woman that sells food and uses kerosene of about N3, 000 every day, and the truth is, she can’t finish gas of that amount every day.” Betty added that not all houses accept the use of gas. So, in retrospect, it is not totally accepted. A lot of people still do not accept the use of gas, because of the mindset that it is more expensive than kerosene. I guess people still have to be properly educated on the usage but it is much safer than kerosene, because there are situations where kerosene stoves explode, but that cannot happen for gas. Explosions occur only when there is a leakage; therefore, it can be kept in a closed space. We also take some safety measures, on our plant from time to time.”

Ruth Okocha

ellington Francis was born many years ago and now a businessman in Lagos, to him Lagos is a land with so many varieties, He believes it is the centre of business in Nigeria, both for local and multinational firms, it is a place where anything can happen, Francis I can say that the Lagos state government is really working, from infrastructural development to educational reform in the state. I would like to remind you of the recent reduction of Lagos state university school fees, although it was done after several consultations and confrontation by the University students. Also, another fascinating thing about this state is that the government has continued to transform Lagos state into a mega city. Even as it is reducing and combating corruption. Though a lot still needs to be done but I think they are trying the best they can. The government has also been able to create job opportunities through the initiative of the governors and commissioners. However, the local governments in Lagos state still need to do more to inspire genuine development but at the state level, they have really tried. In the aspect of security, the state government has immensely contributed to the safety of lives and properties, if you take a look at the situation in the North, it is different from what we have here Lagos On the other side of the coin about Lagos, which is a matter of fact, the cost of living in Lagos is on the high side right now, may be due to the economic situation of the country and finally, the health aspect of the state is not palatable at all, I think a lot should be done in that aspect.

The Mega City

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

MEGA CITY EVENTS Professor Rasheed Arogundade gave his inaugural lecture at the university of Lagos, AKoka, on July 22

L-R: Inaugural lecturer, Prof. Rasheed Arogundade; Provost, College of Medicine, University of Lagos, Prof. Folashade Ogunsola and other well-wishers cutting cake with Arogundade shortly after he presented his inaugural lecture at the university

L-R: Prof. Rasheed Arogundade, Principal Partner, Lekan Alabi Chambers, Mr. Lekan Alabi, and Associate Prof. Department of Economics, Femi Saibu

Installation of Mrs. Olayinka Ayanwale as the 32nd Chairman was held at the Adeyemi Bero Auditorium, Alausa, Ikeja in Lagos

L-R: Vice President, International Inner Wheel, Mrs. Oluyemisi Alatise; Chairman, Inner Wheel, District 911, Nigeria, Mrs. Olayinka Ayanwale; Immediate Past Chairman, Mrs. Joe Nkiruka Ebo; Immediate past National Representative, Inner Wheel Clubs in Nigeria, Mrs. Osenike Ajadi and National Representative/ President, Inner Wheel in Nigeria, Mrs. Phebean Aduke Alade, at the installation

L-R: Group Managing Director, Centrespread, Mr. Kolawole Ayanwale; former Chairman, Nigeria Institute of Management (NIM), Mr. Michael Adewale-Cole; Osolo of Isolo, Oba Kabiru Alani Agbabiaka and Rotary District Governor, Bola Onabadejo at the event PHOTOs: SULEIMAN HUSAINI

IN NUMBERS

132 Hemp smokers arrested

Underage (suspects) referred to correctional homes for rehabilitation.

Suspects arraigned

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Money

Investor

FCT

Maritime

Prospects brighten in retail banking

Market makers without financial backing

Rising inflation bullies CBN single digit stance

Vessels’ ban: Between foreign and local shipowners

Business What's news Consumer goods firms: Shareholders’ wealth down by N460bn Shareholders in the Nigeria’s capital market recorded a loss of about N460 billion in the consumer goods companies quoted on the Exchange between May and July 27, 2015, following massive sell off that had pervaded the local bourse.

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Nigeria, others lose N312bn to illegal fishing Nigeria and some countries in West Africa are losing N312billion ($1.3 billion) yearly from Illegal, Unreported and Unregulated (IUU) fishing.

L-R: Development Director, Posterscope, sub-Saharan Africa, Bruce Burgess; Managing Director, Posterscope Nigeria, Dan Oshodin and Global Insight Director, Posterscope Worldwide, David Gordon, at the media launch of Posterscope Nigeria in Lagos.

CBN: Yuan accounts for 7.5% of Nigeria’s external reserves ATTRACTIVE

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The Business Desk

China’s currency will account for 10 per cent of world reserves by 2025

Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Tony Chukwunyem

he Chinese yuan now makes up 7.5 per cent of Nigeria’s foreign exchange reserves, latest figures from the Central Bank of Nigeria (CBN) has revealed. According to the banking watchdog’s external sector development report for the first quarter of 2015, of the country’s stock of external reserves, which stood at $29.36 billion as at the end of March 2015, the

yuan was worth $2.21 billion(7.5 per cent). Latest numbers from the CBN however, showed that the nation’s external reserves stood at $30.845 billion as at June 24, 2015. The renminbi, which is the official name of the Chinese currency, trailed the United States dollar, which accounts for 75.4 per cent of the reserves. The report noted: “In Q1 2015, the share of all the currencies in the basket declined from their respective levels in Q4 2014 and Q1 2014, except for the Chinese yuan, which increased by 0.4 and 151.7 per cent. The currency composition of foreign reserves and their shares were: US dollar worth US$22.15 billion (75.4 per cent), euro worth US$1.93 billion (6.6per cent), Chinese

yuan worth US$2.21 billion (7.5per cent), GB pounds worth US$0.75 billion (2.6per cent) and Special Drawing Rights (SDR) units worth US$2.31 billion (7.9 per cent).” The CBN had in January last year revealed plans to increase the Chinese yuan’s proportion of the country’s external reserves from two per cent to seven per cent, citing the growing strength of the Asian giant’s currency in global trade. Former Deputy Governor (Operations), CBN, Dr. Kingsley Moghalu, who disclosed

N442 billion Total value of yuan in Nigeria’s external reserves

this, had explained then: “It was clear to us that the future of international economics and trade will shift in large part to business with and by China. Ultimately the renminbi is likely to become a global convertible currency.” It would be recalled that the regulator started to diversify its reserves into yuan in 2011 and announced at the time that it was working with the People’s Bank of China to boost the holdings. Indeed, former CBN Governor, Lamido Sanusi, had revealed in September 2013 that the Central Bank’s decision to diversify the country’s reserve base from the dollar by investing in the yuan had paid-off two CONTINUED ON PAGE 26

Abdulwahab Isa Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

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 24)

USD . . . . . . . . . . . . . . . . . . . . . . N242 Pounds . . . . . . . . . . . . . . . . . . . N365 Euro . . . . . . . . . . . . . . . . . . . . . . N262

l Foreign Reserves – $30.773bn as at 23/07/2015

Source: CBN

EXCHANGE RATE (Interbank as at July 24)

USD . . . . . . . . . . . . . . . . . . N199.00 Pounds . . . . . . . . . . . . . . . N307.65 Euro . . . . . . . . . . . . . . . . . . N223.50

Business | News

UNCERTAINTY The perceived overvaluation of the naira is holding back foreign investors Chris Ugwu

hareholders in Nigeria’s capital market recorded a loss of about N460 billion in the consumer goods companies quoted on the Exchange between May and July 27, 2015, following mas-

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Consumer goods firms: Shareholders’ wealth down by N460bn sive sell off that had pervaded the local bourse. Investigation by New Telegraph showed that the sub-sector, which opened at the beginning of May at N3.091 trillion, closed at N2.631 trillion, as at the time of filing this report last Monday. This represented a loss of N460 billion or 14.88 per cent. Panic by local inves-

tors had compounded the pressure on foreign portfolio investors who were exiting the market, as the price of crude dropped into a bear market. This stemmed from concerns that measures the country’s central bank put in place to stem capital outflows would hinder foreign investors’ ability to sell holdings in Africa’s

top oil producer. In a recent report obtained from the NSE website, Foreign Portfolio Investment (FPI) transactions at the nation’s bourse decreased to N69.65 billion, down 12.69 per cent from May 2015, while domestic transactions increased to N133.80 billion in the same period, representing an upward

movement of 103.71 per cent. Foreign investors conceded about 31.52 per cent of trading to domestic investors, as FPI transactions decreased from 54.84 per cent of the total transactions in May to 34.24 per cent in June, while domestic transactions increased from 45.16 per cent to 65.76 per cent over the same pe-

L-R: Former Group Managing Directors, Nigerian National Petroluem Corporation (NNPC), Dr. Edmund Ayoola; Chief Chambalan Oryibo and former President, Nigerian Mining and Geosciences Society (NMGS), Dr. Maria Sonuga, at the society’s annual lecture in Lagos. PHOTO: TONY EGUAYE

Yuan is 7.5% of Nigeria’s external reserves CONTINUED FROM PAGE 25

years after. Sanusi had said: “The issue about risk is changing because of the dynamics of the global economy and you know pretty well that currently there are issues around the strength of the currencies all over the globe and the debate is on-going on whether or not the dollar would continue to be the de-facto reserve currency. That’s why so many countries are changing the basket of currencies where they keep the reserves so that they can mix their risksand then, they are beginning to diversify.” According to a Central Banking Publications survey of central banks carried out in March this year, sponsored by HSBC Holdings Plc, China’s currency will account for 10 per cent of world reserves by 2025. The survey found that the yuan would make up an estimated 2.9 per cent of foreign-exchange stockpiles by the end of this year. Of the 72 monetary authorities with $5.9

trillion in reserves that the authors of the report spoke with, 35 said they either held yuan or were considering doing so. The findings came amid calls by China for the International Monetary Fund (IMF) to include the yuan in the Fund’s fourcurrency reserve basket. According to analysts, inclusion would help the world’s second-largest economy challenge the dollar’s dominance in global trade and finance. However, another HSBC survey in the same period showed that 17 per cent of companies worldwide used the yuan to settle trades, down from 22 per cent a year earlier. The yuan fell two levels to seventh place globally among the most-used currencies in February, according to the Society for Worldwide Financial Telecommunications. The dollar and euro dominate markets, accounting for 72 per cent of the payment system. The yuan trailed the British pound, Japanese yen, Swiss franc and Canadian dollar.

UNDERPERFORMING

Only 10 nations exploit 42 per cent of the global fishing industry in the exclusive economic zones Bayo Akomolafe

igeria and some countries in West Africa are losing N312 billion ($1.3 billion) yearly from Illegal, Unreported and Unregulated (IUU) fishing. It was learnt that while Nigeria was losing $60 million, Senegal alone was losing $300 million. Ghana was said to have been losing $100,000 per day. Also, a report by the Marine Resources Assessment Group in London, said that IUU fish loss per boat per year was estimated at $3,000,000 in the West African sub-region. The National Oceanic and Atmospheric Administration (NOAA), in its 2015 biennial report on IUU fishing, identified Nigeria as one of the six nations, including Colombia, Ecuador, Mexico, Nicaragua and Mexico, in which IUU fishing was very rampant. Also, a former Vice President of the World Bank for Africa, Obiageli Ezekwesili, at this year celebration of the African

riod. Total transactions at the nation’s bourse increased to N203.45 billion (about $1.04 billion) in June 2015, up 39.88 per cent from May 2015. Foreign portfolio investors’ inflow accounted for 20.97 per cent of total transactions, while the outflows were 13.26 per cent of the total transactions in June 2015. In comparison to the same period in 2014, total FPI transactions decreased by 40.97 per cent, whilst the total domestic transactions increased by 24.45 per cent. FPI inflows outpaced outflows, which was consistent with the same period in 2014. Overall, there was a 9.78 per cent decrease in total transactions in comparison to the same period in 2014. Just as other quoted firms in Nigeria facing depression in share prices, market sentiments for the shares of most of the consumer goods companies have dwindled relatively due to challenging environment faced by the real sector of the economy. Market analysts have continued to link Boko Haram insurgents fighting to carve out an Islamic state in Nigeria as major factor that has contributed to the depletion of share prices and companies’ revenue in the country.

Nigeria, others lose N312bn to illegal fishing Day of Seas and Oceans, and launching the 2015-2025 Decade of African Seas and Oceans, said that Africa would need to stand up as one to counter those who would rather leave the high seas open to the anarchic race to the bottom She said: “Illegal, unreported and unregulated (IUU) is fishing taking place in and around our waters. This criminal practice, is literally robbing fishing communities across the continent, decimating our struggling fish stocks and extracting billions from our economies.” Ezekwesili, who is a member of the Global Ocean Commission, explained that the 2009 Fisheries and Agriculture Organisation (FAO) Port State Measures Agreement (PSMA) was the international treaty waiting to be implemented that was vital to preventing, deterring and eliminating IUU fishing. She noted that the treaty had been ratified by the European Union and 12 other nations, including several in Africa. “It would take just a dozen more African states to join

them for this agreement to have the 25 ratifications it needs to enter into force,” she added. Ezekwesili said: “Africa could lead the way to allowing the PSMA to do what it is designed for: requiring port states to refuse entry, access and all services to IUU vessels. As has already been demonstrated by decisive, coordinated action by African states to close their ports to certain known vessels, denying port access can effectively put pirate fishers out of business. “Ratifying PSMA is an entirely win-win opportunity for African nations to drive local and global change. African states could also work within the IMO (International Maritime Organisation) and FAO to call for mandatory IMO numbers for all fishing vessels and tamperproof transponders so that we can further monitor fishing activities.” According to her, 42 per cent of the global fishing industry in the exclusive economic zones (EEZs) of coastal states was being carried out by just 10 nations.

Business |Money

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Prospects brighten in retail banking The future of the financial services sector is retail banking, despite costs and expertise issues. Nigerian lenders seem to be making good progress in this regard, writes Tony Chukwunyem

fortnight ago, the Chief Executive Officer of Access Bank, Mr. Herbert Wigwe, was reported as saying in an interview with Reuters that the lender expects its retail banking business to turn to profit this year. He also stated that the business was projected to contribute up to 10 per cent to profit before tax next year and 20 per cent by 2018/19. The Access Bank boss was quoted as saying: “Before the end of 2018/19 we would see what would be a 20 per cent contribution from retail,” adding that most of the lender’s 350 branches would become profitable this year. He further disclosed that the bank expects to sign on two million customers and another two million through its cards product. The top tier bank acquired rival lender, Intercontinental Bank, three years ago and had announced in 2013 that as part of a new strategy to focus on retail banking, it was aiming to grow its customer base to between 15 million and 20 million across its African markets by 2018, from around six million. But Access Bank is not the only lender that has shifted focus to retail banking. Indeed, following consolidation in the industry in 2005, Nigerian banks embarked on aggressive retail banking strategies and branch expansion programmes. They were, however, hindered by the impact of the 2008 financial crisis. Significantly, since the resolution of the crisis in these parts, the level of interest in retail banking has increased and the issue has become a regular topic for discussion in financial circles nowadays. For instance, at the annual guest lecture organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, last month, financial expert and Chairman, Lafferty Group, Michael Lafferty, stated that retail banking is different from corporate banking because the customers are people and small businesses, rather than big corporations. He further explained that retail banking is more tasking than corporate banking because people tend to bring emotions into their decision-making – while corporates are generally far less demanding because they make decisions on a rational basis. The expert said: “Retail deposit-taking is the very lifeblood

Onasanya

Adeola

of banking and these personal deposits are so precious that a value can hardly be put on them in times of stress.” Sterling Bank, others join the train Also, last month, Nigeria’s biggest bank by assets, First Bank of Nigeria, hosted the 2nd Annual West Africa International Retail Banking Dialogue in collaboration with The Asian Banker. Speaking at the forum, GMD/ CEO, First Bank of Nigeria, Mr. Bisi Onasanya, argued that with over 40,000 Point of Sales (PoS) machines in the country, about 15,000 Automated Teller Machines (ATMs) and total bank branches of over 5,000, the lender is the industry leader in retail banking. As he put it, “First Bank is largely a retail bank, with over 40 per cent dominance of the retail banking sector in Nigeria.” Also, Group Head, Retail Banking First Bank, Mr. Tunde Owolabi, sated that there was a huge gap in the country’s retail banking space, pointing out that out of a population 177 million, 36.5 million people are completely excluded from the banking services, while 56.6 million have some types of banking relationship. He said: “Retail banking is important to the Nigerian economy because it captures the unbanked and the under banked customers. A bulk of these set of people are the SMEs and the masses who carry out day-to-day transactions without proper documentation and management of which empowerment of these class of people can further lead to sustainable wealth.” In his remarks, Chairman, The Asian Banker, Emmanuel Daniel, stated that retail banking will become even more viable as the Gross Domestic Product (GDP) grows. “So, as long as you have strong annual GDP growth, wealth is being created at the consumer market banking level,” he

There would be greater mergers and acquisitions among players

Wigwe

stated. Still within the month of June, another first tier lender, Skye Bank, launched its new retail strategy code-named Project R-TAG - “Retail Transformation and Growth,” Skye Bank said that it is designed to simplify retail banking business, making it focus on customer segments rather than the product-led approach commonly adopted by retail organisations. According to the lender, the new strategy focuses essentially on the needs of customers in its identified target segments, individuals and Small and Mediumsized Enterprises (SMEs). Speaking at the launch of the project, the Group Managing Director/Chief Executive Officer of the bank, Mr. Timothy Oguntayo, pointed out that the trend in retail banking involves knowing the needs of the customer beyond finances to include lifestyle needs and designing appropriate solutions to meet those needs. He said: “Our renewed drive and focus on retail banking is anchored on the premise of building a long lasting relationship with our customers based on trust as well as supporting the financial inclusion drive of the CBN so as to bring a lot more people into the financial system and the formal economy. This is why the bank has instituted its ‘Reach for the Skye millionaire reward’ scheme as a product feature for its flagship savings product to encourage savings culture amongst the mass market segment.” Also speaking at the event, Head, Retail Banking Group, Nkolika Okoli, said that the RTAG project would help streamline the bank’s product portfolio targeted at individual and SME customers via the identification of primary focus segments, with a maximum of two products to serve each segment. She added that Skye Bank has also pioneered the issuance of free debit cards and cheque books to retail customers as well as the removal of all withdrawal barri-

ers on savings account types as incentives to encourage adoption of financial services by customers of all class by making banking services affordable to all. Interestingly, leading mediumsized lender, Sterling Bank attributed its positive performance for the nine months ended September 30, 2014, to the success of its retail strategy. Managing Director of Sterling Bank, Mr. Yemi Adeola, explained that as part of initiatives to bolster its retail banking proposition, the bank realigned its business by market segments for a more focused market reach while it continued to increase its transaction channels. He added that Sterling Bank is on track to deliver additional 21 branches and 500 ATMs by the end of the year. Throwing more light on the bank’s retail banking strategy at an interactive session with journalists in May, Sterling Bank’s Chief Financial Officer (CFO)/ Executive Director, Mr. Abubakar Suleiman, disclosed that the lender was on track on its expansion targets, which it unveiled in 2013, and would soon embark on another phase of its growth strategy. He disclosed that the bank currently has 1.5 million customers, stressing that from 84 branches in 2006, the lender’s branch network and ATMs would hit 200 and 1,000 respectively by the end of the year. Factors fuelling retail growth Although most banks worldwide are embracing retail banking as a way of sustaining growth, analysts told New Telegraph that regulatory headwinds in Nigeria are a key reason why most of the country’s lenders are focusing on this type of banking. According to them, the hike in Cash Reserve Ratio (CRR) on both public and private sectors’ deposits as well as the apex CONTINUED ON PAGE 28

Business | Money

VERIFICATION

BVN form details will be checked against customer’s demographic data

Tony Chukwunyem

anaging Director, Nigeria Interbank Settlement System Plc (NIBSS), Mr. Ade Shonubi, has shed light on why bank customers with multiple bank accounts would have to ensure that their Bank Verification Number (BVN) is linked to each of their different accounts. He told journalists at a press briefing that this was to enable the various banks verify that the details contained in the BVN forms filled out by such customers corre-

‘Why banks have to link customers’ BVNs to accounts’ spond with information that the bank already had. Bank customers with multiple bank accounts across the country who have registered for the BVN and obtained their numbers, have in recent weeks complained about being made to ensure that their BVN is linked to all their various bank accounts. They had argued that instead of a customer with six bank accounts, for instance, being subjected to the inconvenience of communicating with all the banks where he has accounts, the financial institutions should be able to retrieve

ECOWAS Bank pledges to boost economic growth

he Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID) says it would continue to focus efforts on providing support to private and public sector initiatives to grow the economies and create jobs in the sub-region. EBID President, Mr Bashir Ifo, disclosed this in Ghana. He added that everything would be done to lift the people out of poverty and transform their economic situation. Evidence of this, he said, could be seen from the bank’s assistance in areas of infrastructure, agriculture and private sector development. According to the bank, since the start of its operation in 2004, it has

made available a total of $1.77 billion towards the implementation of 177 projects in member states. Ifo stressed that the bank, set up at the same time with the ECOWAS Commission, in May 1975, to fund development projects and programmes capable of fostering socioeconomic development and regional integration, was making progress. It remained committed to taking bold action to strengthen its internal administrative and financial management to sustain it on the path of growth and stronger performance, he said. He expressed satisfaction with the cost controls, efficient organisation of work and the increasing volume of the bank’s activities.

Standard Bank Group wins ‘Custodian’ award

tandard Bank Group has been awarded “Custodian of the Year” at the annual Imbasa Yegolide Awards presented by Batseta, the Council of Retirement Funds for South Africa. A custodian is a financial institution offering trade settlement, safekeeping of assets and corporate event processing. Commenting on the award, Head of Investor Services South Africa at Standard Bank Group, Charl Bruyns, said: “We are delighted to be acknowledged for a sixth consecutive year by Batseta, which repre-

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

sents a core part of the local retirement fund industry. The award solidifies our position as the leading provider of custody and related investor services products to our clients.” Standard Bank Group has the largest market share of the South African custody market, which is valued at approximately R11trillion, making it the largest custodian in Africa. In addition to the core services, Standard Bank Group also provides pension funds with bespoke master recordkeeping, securities lending and transition management solutions.

such a customer’s BVN from the NIBSS database and do the verification themselves. But the NIBSS boss said: “It was vital that such customers send their BVN to all the banks where they have accounts so that their details can be verified against what the banks already have in their records. This is because if there is a discrepancy, then the customer would have to offer an explanation, otherwise the account would not be linked to the BVN and such a customer may not be able to operate the account.” Reacting to complaints that many customers across the country who

had registered for the BVN exercise were yet to receive their numbers, Shonubi revealed that NIBSS had worked out an arrangement that would see it sending the numbers to such customers via the Short Messaging System (SMS) in the next few weeks. He explained that at the moment, there were no plans to extend the new deadline of October 31 for bank customers both at home abroad to register for the BVN, urging Nigerians that were yet to obtain their BVN to do so before the date, otherwise, they could be denied access to their accounts. Also speaking at the briefing, BVN Project

Manager at NIBSS, Mr. Seyi Ademosun, disclosed that customers could link their BVN to their different bank accounts from a single bank. He dispelled concerns that hackers could defraud customers, pointing out that even if fraudsters obtain a customer’s BVN, they will not be able to have access to that customer’s account if the Personal Identification Number (PIN) is not compromised. In a circular it issued in May, the Central Bank of Nigeria (CBN) had advised banks to explore ways of simplifying the process of linking the BVN of customers with multiple bank accounts.

The apex bank, which recommended the use of an Internet banking portals/Automated Teller Machines (ATMs), e-mail and formal letters, as well as self-service portal, stated that customers did not have to physically visit their branches for the linkage of the BVNs. The circular, which was signed by the Director, Banking and Payments System Department, Mr. Dipo Fatokun, stated: “Deposit Money Banks (DMBs) are required to provide an interface on their banking platforms and ATM channels to enable customers log-in with their password or pin and submit their BVN to their banks.

L-R: Managing Director/CEO, Africa Operations, Inlaks, Femi Adeoti with Chairman, Lagos Chapter/Member, Governing Council, Institute of Management Consultants, Capt. Justin Paase, during Adeoti’s conferment as Fellow of the Institute in Lagos.

Prospects brighten in retail banking CONTINUED FROM PAGE 27

bank’s policies on commissions have so impacted banks’ earnings that financial institutions now consider retail banking as the only viable source of steady income. In fact, Guaranty Trust Bank revealed last year that it planned to increase retail deposits by 20 per cent to help offset tougher regulatory requirements. Challenges But while it may be a source of sustained income, the retail banking terrain also has its challenges, according to experts. For instance, at the 2nd Annual West Africa International Retail Banking Dialogue earlier referred to, First Bank’s GMD/CEO, Bisi Onasanya, identified infrastructure and what he described as a

lack of strong relationships across customer segments, as some of the challenges hindering the growth of retail banking in Nigeria and other African countries. Also, a financial expert, Mr. Fabian Okechukwu, said: “Retail banking has to be handled with a lot of caution, especially by Nigerian banks that have formed the habit of seeking quick returns on investments. This is because unlike corporate banking, you invest a lot on establishing branches and other necessary equipment, but it usually takes time before many of these branches become profitable.” Conclusion However, while Nigerian lenders still clearly have a long way to go to catch up with the retail banking standards set by their counterparts

in the advanced economies, the announcement by Access Bank that its retail banking business would turn to profit this year and that the business is expected to contribute up to 10 per cent to profit before tax next year and 20 per cent by 2018/19, should be a proof that this type of banking can be profitable in Nigeria. But as the The Asian Banker Chairman, Mr. Emmanuel Daniel, predicted, “retail banking performs an important social function in mobilising the financial resources of large populations. In the more developed countries, retail banking is about assessing a strong deposit base cheaply. We think that as competition increases in Nigeria, there would be greater mergers and acquisitions among players. In other words, there would be fewer large players over a period of time.”

Business | Investor

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Chris Ugwu

he major reverses, which befell the Nigerian capital market during the global financial market meltdown, are still here with us. Many institutional investors and individuals are still leaking their wounds following the losses they incurred during these periods (2008-2009). This is because despite what was witnessed during the market crash, the equity market has continued to face a lot of crises. In the recent times, a number of militating factors have also contributed in no small measure to the depression in the equity market. Militating factors Such factors include, the buildup to 2015 elections, which increased the level of political risk, fuelling the sell-off motive of both local and foreign investors. In addition to these are the security challenges that have engulfed the Northeast of the country. The external factors are, however, the most worrisome in the current bear run on the local bourse. These issues include the sudden decline in oil prices and the ability of the Central Bank of Nigeria (CBN) to continue to defend naira at current exchange rates, which the international investors is heavily over-valued. According to analysts, the other factor is the formal termination of quantitative easing by the United States Federal Reserve Bank. This is expected to reduce the level of liquidity available to foreign portfolio investors as well as increase their borrowing costs, thereby reducing the arbitrage. The combination of all these factors has succeeded in pulling back the stock market to limbo, as sell pressure continued unabated. The Nigerian Stock Exchange (NSE), taking a cue from market downturn in 2014, began the 2015 financial year on an unfavourable note, with key measurement indicators tilting southwards to finish last Friday with a loss of 10.28 per cent in market performance indices year-to-date. The NSE’s market capitalisation depreciated by N821 billion to close at N10.656 trillion when the closing gong rang last Friday (July 25) from the N11.477 trillion opening figure at the beginning of trading in January. The NSE All Shares Index dropped by 10.28 per cent or 3565.46 basis points for the period under review from 34,657.15 points it opened during the beginning of trading, to close at 31,091.69 points. The index measures the performance of the stock market and also reflects how prices of stocks have moved, which in turn determines how much investor made as gains or losses. Efforts to reposition the market The regulatory authorities have taken certain measures, some of which were commendable, while others could only be taken with a pinch of salt. However, one of such measures, which were touted to be a step in a right direction, was the issue of market makers. Some market pundits believed that the stock market meltdown took an

NSE building

Market makers without financial backing alarming dimension because of the absence of market makers. The NSE’s attempts to help deepen the equities market had resulted in the Self Regulatory Organisation taking the giant stride with the inauguration of 10 market makers on the floor of the Exchange in 2012. The NSE Chief Executive Officer, Oscar Onyema, who regarded the development as another milestone in the history of the Nigerian capital market, said that the 10 stock broking firms were selected from a list of 20 that had applied last year. In preparation to the commencement of the programme, 10 market makers were appointed on April 4, 2012. The market makers, as announced by the NSE, were Stanbic IBTC, Renaissance Capital, Future View Securities, Vetiva Capital and ESS/DunnLoren Merrifield. Others are WSTC, Capital Bancorp, FBN Securities, Greenwich Securities and CSL Stockbrokers. Onyema had said: “This is a great milestone and a major step in the direction of turning the market round to bring liquidity and depth back into the market. We will continue to move forward on this. “The companies selected went through a very rigorous process and met the minimum net capital requirement of N570 million; we also examined their compliance history and looked into their operational capabilities including their technology and processes.” However, last week, the Exchange announced the appointment of Chapel Hill Denham Securities Limited (CHDS) as one of its Primary Market Makers. The appointment of CHDS followed the resignation of WSTC Financial Services Limited. In a statement Executive Director, Business Development, NSE, Mr. Haruna Jalo-Waziri, described the appointment as

a positive step towards the improvement of market liquidity and depth. He added: “Chapel Hill went through a rigorous selection process and met the minimum net capital requirement, as well as compliance history and operational standards, as set by the Exchange.

The fact that the banks are so risk conscious nowadays makes them unwilling to support the market makers

Market makers’ role In most advanced markets, market making plays a crucial role in creating liquidity and stabilising their capital markets. The market maker ensures that you will always get a buyer when you want to sell a security, and there will always be a seller when you want to buy a security. The market maker can be the seller or buyer. The market maker is a brokerdealer warehousing a given number of shares of a specific security in order to ease trading in that security. Displaying the bid and the offer quotes/prices for a guaranteed number of shares does this. The importance of the market maker includes providing liquidity to the securities market and thus ensures that the market is stable. Operators’ perspective Despite the initiative, the sustained downward movement of stocks showed that the market makers have made little or no impact on the local bourse. Operators believe that the performance would have been better but for some challenges, which include lack of funds on the part of some market makers to move the market as expected and investors’ apathy on the equities. The operators believe that there is need to give market makers enough teeth to help deepen the market liquidity.

The President, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, said that the impact of market making has not been felt in the equity market, otherwise the bear run that had characterised the trading activities would have been checked. He noted that there was still lot of opportunities in the equities market that investors are yet to take advantage of, adding that many stocks in the market have very good net asset value, but their current price on the floor of the Exchange is selling far below their net value. Also, Chairman, Progressive Shareholders Association of Nigeria, Boniface Okezie also agreed that there is little or no impact on the market since the appointment of market makers. “Market makers have not impacted positively in the activities of trading in the local bourse; we all can see the rate at which activities are dwindling in the stock market,” he said. A senior broker on the condition of anonymity, also ranked the performance so far very low, stressing that some of them had not performed at all and that their activities, relative to the entire market, had been minimal. In terms of challenges limiting them, he said: “One major problem they have had is incompleteness of the procedure for market-making. For instance, there can’t be market making without securities lending, and up till now, securities lending has not started. So, invariably, there can’t be market-making.” He added: “Once the liquidity is not there, market-making will be neither here nor there. And the fact that the banks are so risk conscious nowadays makes them unwilling to support the market makers.” Conclusion For the market making process in Nigeria to be a success, the market makers must be made to have enough buffer funds at all times, they must have a robust information technology infrastructure and multiple record keeping systems. These would enable them to take firm root in the capital market and have capacity to meet shortfall in supply as well as satisfy demand in situations of extreme volatility.

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

FCT Business Watch Rising inflation bullies CBN single digit stance Abdulwahab Isa Abuja

n what has become a trend, the monthly Composite Price Index (CPI), the National Bureau of Statistics’ (NBS) barometer for measuring food prices, has been on an upward swing in the last couple of months. CPI measures the average change over time in prices of goods and services consumed by people for day-to-day living. The NBS, data revealed that the nation’s CPI rose to 9.2 per cent (year-on-year), representing 0.2 percentage points from the 9.0 per cent rate recorded in the preceding month. The Bureau said the increase in June’s inflation rate, the highest recorded since December last year, was driven by fuel scarcity, higher transportation costs and an increase in food prices. It attributed the faster pace of the Headline Index to bottlenecks observed during the period, resulting in major Classification of Individual Consumption by Purpose (COICOP) divisions. The Bureau noted that through the first six months of the year, the Headline Index increased by 8.6 per cent, 0.7 percentage points higher from rates recorded during the corresponding period in 2014. The Headline Index is made up of the Core Index and Farm Produce items. According to NBS, the faster pace of increases in the COICOP divisions were also observed in the Food and Core sub-indices as food prices edged higher in the month under review. This is due to irregularity of the supply of petrol, thus causing the food sub index to rise by 10.0 per cent (year-on-year) in June up from the 9.8 per cent recorded in May. Gradual rise in headline inflation For the better part of 2013 and early 2014, the headline inflation settled in the region of seven per cent or thereabout. Experts did not express worry, as many described the figure as within a tolerable limit. The figure began gradual inch up towards the build–up to the general elections. From 8.2 per cent figure in January this year, it moved to 8.4 per cent in February, partly driven by increases in prices of imported food. Since then, it has been on a gradual climb month after month. CBN’s conviction Reacting to the gradual rise in headline inflation last week, the CBN, at its July Monetary Policy Committee (MPC) meeting, expressed concern over the gradual but steady increase in headline inflation, which has inched up to 9.2 per cent in June 2015. The CBN Governor, Mr. Godwin Emefiele,

President Muhammadu Buhari

noted that this reflected a rise in both the core and food components of inflation. Stating the bank’s observation at meeting, he noted that core inflation rose to 8.4 per cent in June from 8.3 per cent in May, while food inflation increased to 10.0 per cent from 9.8 per cent over the same period. He said: “The Committee observed that the uptick in year-todate inflation rates was traceable to transient factors such as energy, arising from scarcity of petroleum products around the country, poor electricity supply and increased demand for transportation and food, from the build-up to the general elections and the ensuing Easter and Sallah celebrations.” Consequently, Emefiele said the opportunity for further policy maneuver remains largely constrained in the absence of supporting fiscal measures. It therefore urged for coordination of monetary, fiscal and structural policies to stimulate output growth, and stabilise the exchange rate.” On inflation, the Committee stressed that some of the drivers of the current pressure on consumer prices were transient and outside the direct influence of monetary policy. Emefiele said the pressure on food prices is expected to gradually wane, as the planting season gives way to harvests in the months ahead. Besides, he said that early resolution of fuel scarcity would dampen transportation costs and improve food distribution across the country, while improvements in electricity supply could steady output at a lower cost. Rise in imported products’ prices There is a consensus in some quarters that the recent prohibition slammed on 41items by the apex bank is indirectly responsi-

Emefiele

Core inflation rose to 8.4 per cent in June from 8.3 per cent in May, while food inflation increased to 10.0 per cent from 9.8 per cent

ble for the rise in June inflation. The CBN in a recent policy had stopped the use of the official foreign exchange for the importation of 41 goods. Among the 41 goods are rice and other food items such as margarine, palm kernel, palm oil products, vegetable oil, meat and processed meat products, vegetables and processed vegetable products, poultry (chicken, eggs and turkey) as well as tomatoes/tomato paste. Stakeholders predicated the increase in prices of the products on the huge gap between local production and the demand for the items, which had been regularly filled by import. Shortly after the CBN introduced forex restriction policy on such items, the price of the affected commodities began rise. For instance, prices of rice, a major popular consumable in all Nigerian homes irrespective of brand, added a new price, which traders attributed to difficulty in sourcing dollar for importation. For instance, a 50 kg of riceMama Africa -previously costing N8,300 is now N10,000, BGS Thailand brand hitherto selling for N8.100 (50kg) currently goes for N9.800, India Mama’s Special was selling for N8 000 but now goes for N9.200, while Ebony Gold previously at N8.200 now costs N9,200 for same quantity of 50kg. Similarly, vegetable oil has also increased in price. Checks in the market indicated various brands have also recorded increase in prices. Peak oil (20 litre), which sold for N5,100 now sells for N6,400, Dinos oil hitherto sold N5,900 now sells for N6,500. Experts’ perspectives Reacting to the retention of MPC key rates as approved by the committee last week and its adverse effect on inflation, analysts

said MPC’s retention of the MPR at 13 per cent would lead to further increase in prices of goods and services in the country. They argued that the development would escalate the nation’s inflation rate. For the Managing Director/ Chief economist, Africa Global Research at Standard Chartered Bank, Razia Khan, the retention of lending rate signposted further escalation in future inflation. She said: “Clearly, Nigeria is in a difficult position. Growth is slowing, but with inflation set to rise, it is not obvious if that policy can be loosened very substantially. The CBN rather hopefully in our viewexpressed optimism that many of the factors driving up prices were likely to be transient and that with the onset of the harvest season, food prices would decline. Prof. Sheriffadeen Tella of Olabisi Onabanjo University, AgoIwoye, said that CBN’s retention of the interest rate at 13 per cent was not good for the economy. Tella, who is of the Department of Economics, said that Nigerians should expect tougher times ahead because retention of the rates would affect prices of goods and services. Similarly, the Managing Director, Standard Union Securities Limited, Mr. Sehinde Adenagbe, said the rates should be brought down to reduce cost of funds in the economy. He said that the development would increase the cost of borrowing thereby affecting the growth of the real sector and the economy in general. Speaking with New Telegraph recently, an Economist and senior lecturer at Department of Economics, University of Ibadan, Dr. Abiodun Folawewo, advised CBN to adjust its lending rate (MPR) from 13 per cent to 12 per cent to enable investors borrow at reasonable rate from banks. He said there was need for CBN to loosen up its grip a bit. Lead Director, Centre for Social Justice, Mr. Eze Onyekpere, advised Nigerians to jettison patronage of foreign items and develop appetite for locally made products to curb the rate of inflation in the country. He said that government should encourage local refining of petroleum products in order to reduce the amount of foreign exchange spent on fuel subsidy. Conclusion No doubt, CBN forex restriction policy could be hurting at the moment, but imbedded in the policy are some long-term benefits, which include, but not limited to, ensuring that Nigeria attains her true potential. A paradigm shift in attitude towards locally produced items in preference to foreign items would translate to creation of more jobs, leading to prices of items becoming competitive and inflation rate heading soutwards.

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Maritime

Stakeholder warns govt against foreign policies p.32

Nigerian seaports record 150m tonnes throughput p.33

Vessels’ ban: Between foreign and local shipowners Global oil tanker association, Intertanko, has protested over the ban on 113 vessels by the Nigerian National Petroleum Corporation (NNPC). Their grouse was that no grounds was given for the harsh measure, BAYO AKOMOLAFE reports

Government to push for effective implementation of the Nigerian Coastal and Inland Shipping Act, otherwise known as the Cabotage Act 2003 to clean up Nigeria’s territorial waters of foreign vessels. He stressed: “Our maritime domain is infested by foreign ships despite the prohibitions in the Cabotage Act. Worst still, the foreign vessels failed to obtain waivers as required under Section 9-11 of the Cabotage Act. It is a common sight to find Phillipinos, Indians, Koreans, Pakistanis, among other nationals, onboard product tankers and offshore support vessels engaged in the Nigerian Cabotage Trade. “They take up the jobs reserved for the teeming young Nigerians who remain unemployed and helpless. While the Americans, Indians, Europeans and Australians protect their Cabotage Area, which I call ‘nurseries,’ we in Nigeria have left the gate open and the hawks and hounds have gone in to wreck havoc.”

ndependent owners of majority of the world’s tanker fleet have said that the ban on their vessels should be lifted with immediate effect. The shipowners said that it was difficult to understand, which government policies they have infringed. They noted that no reference was given to policies and requirements relating to the ban. The association complained that some of the vessels had not traded to Nigeria for a number of years. The vessel Some of the affected tankers are: MV Eliza, with International Maritime Organisation registration (IMO), No. 9387578 with MV Happines, with IMO No. 9212905; MV Progress, with IMO No. 9180152; MV New Harmony (No. 963207); MV Tenyo (No. 9222443); MV Astro Challenge (No. 9237072); MV Maran Thetis (No. 94214427); MV BW Bauhinia (No. 9315070); MV Dream (No.9356893); Victory 1, (No 9203277) and Sea Landsort (No 8919154). Others include MV Humanity (No. 9180281); MV Scf Shanghai (No. 9325968); MV Xin Dan Yag (No. 96140048); MV Desim (No. 9395305); MV Cosgrace Lake (No. 9294587) and MV Plata Glory (No. 9172674). The vessels which were mainly Very Large Crude Carrier (VLCC) oil tankers were banned from calling at Nigerian crude oil terminals and Nigerian waters with immediate effect until grounds and evidence for the embargo is lifted. List of jetties Also, the vessels were not permitted to visit the following 27 jetties: Bonga, Forcados, Bonny, Sea Eagle, Qua iboe, Erha, Yoho,Usan Bonny River Terminal, Escravos, Agbami, Pennington, Escravos LPG FSO, Escravos Gas Terminal, Antan, Okwori, Odudu,Akpo, Brass, Abo, Okono,Oyo,Ima, Ukpokiti, Ekbo, Tulja and Okoro. Allegation The association’s General Counsel, Michele White, said that the list of banned tankers was not exhaustive, alleging that more tankers were being added. She noted: “Our current under-

A merchant tanker, Erria Dorthe, on Nigerian waters

standing is that these ships may have been targeted due to their failure to provide official outturn figures at their last call and/or commercial differences between load and discharge figures for cargo and free water. “This may also be part of a general crackdown by President Muhammadu Buhari on corruption in Nigeria’s maritime, oil and gas, financial services and security sectors, including illegal bunkering and fuel sales.” Reaction Reacting to the issue, the President of the Nigerian Shipowners Association (NISA), Captain Niyi Labinjo said that the local ship owners in the maritime industry were still investigating the affected foreign vessels. He explained that the affected

Our maritime domain is infested by foreign ships despite the prohibitions in the Cabotage Act

vessels were the merchant tankers nominated by oil traders to lift crude oil on their behalf. The president noted that no indigenous vessels were affected. Labinjo lamented that the country was still selling its crude oil on Freight on Board (FoB) instead of Cost, Insurance and Freight (CIF). However, President of the Ship Owners Association of Nigeria (SOAN), Greg Ogbeifun, declined to comment on the issue, saying that he was not aware of the corporation’s action. Foreign vessels Labinjo said that Nigerian shipowners were deliberately being denied jobs in preference for foreign ships, adding that most of the vessels were operating without waivers. He called on the Federal

Import problem He said that while Nigeria imports 1.88 million litres of petroleum products monthly, the mother vessels (import vessels) stay at Cotonou/Lome offshore and small tankers do the lighterage of the products to Nigerian ports. He disclosed that the association had approached government to allow only Nigerian vessels to be involved in the lighterage operations exclusively, an exercise that will provide 500,000 jobs for Nigerian youths and a monthly earning of about N548 billion. According to him, this was what informed many of the indigenous shipping companies acquiring their own vessels. But he regretted that foreign ships were still in control of the lighterage operations from mother ships berthing in the neighbouring Cotonou/Lome. Labinjo maintained that the problem of Nigerian ship owners is not in the vessel, but finding jobs for which the vessels were meant.

Shippers’ Council to reintroduce cargo tracking

ive years after it was suspended, the Nigerian Shippers’ council (NSC), has said that it would reintroduce Cargo Tracking Note (CTN) in the Nigerian port sector. Its Executive Secretary, Mr. Hassan Bello, disclosed this at the Customs Headquarters in Abuja during the inauguration of a 10-man committee on the operation of Inland Container Depots (ICDs) in the country. Members of the committee were drawn from the Nigeria Customs Service (NCS) and NSC. Bello noted that the council had been mandated to

implement electronic cargo tracking, an advanced cargo information services in the country. He said that the electronic cargo tracking would capture international trade arriving and departing the port of destination and origin. The executive secretary explained that the tracking note would assist Customs in blocking revenue leakages at the ports. The CTN was first introduced in Nigeria on December 9, 2009, under the management of the Nigerian Ports Authority (NPA), but was administered by a private firm, Transport and

Ports Management Systems Ltd (TPMS) Antaser. It was, however, suspended less than a year after its introduction due to opposition by stakeholders. Speaking on the ICD committee inauguration, the Comptroller-General of Customs, Dikko Abdullahi, urged the NSC to ensure that operators automate their operations to enhance clearance of cargo. He said: “We have to do more in the area of compliance. We cannot operate the ports without the cooperation of the stakeholders, which is the major problem we have now.”

Abdullahi said that the terms of reference for the committee include developing a workable roadmap for effective release and smooth flow of ICD-bound containers to and from the country’s seaports. He explained that it would develop standard cargo clearance procedures and documentation, including Pre-arrival Report (PAR), scanning and effective movement of cargo to and from the ICDs. Abdullahi added that the committee would recommend applicable software (electronic data interchange) for use and adoption by the ICD operators at the respective dry ports.

Business | Maritime

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Stakeholder warns govt against foreign policies RETROGRESSION Nigeria adopts outdated foreign maritime policy

he Fe d e r a l Gover nment and maritime stakeholders have been warned by a maritime expert, Mr. Bolaji Akinola, against the importation and use of foreign commercial maritime laws without

giving due consideration to the local environment. Akinola, who is a member of the Nigerian Ports Consultative Council (NPCC) Planning Committee on Roadmap for the Development of the Maritime Industry towards the Attainment of Vision 20:2020, gave this advice at a meeting of the committee at Eko Hotel, Victoria Island, Lagos. He said that the failure of the Coastal and Inland Waterways Act, otherwise known as Cabotage

Act, could be traced to the wholesome importation of the United States of America’s Jones Act. He said: “At a time when US lawmakers were trying to tweak the Jones Act with some lawmakers calling for its total repeal, Nigerians cut and pasted the Act in its whole form without due consideration for the peculiarities of our environment. “While an Act like the Cabotage Act was desirable to enhance indigenous participation and re-

tain as much value within our economy as possible, certain portions of the Jones Act should not have been imported into the Cabotage regime.” Akinola, who is also the Chief Executive Officer of Ships & Ports Limited, said that the Jones Act was almost 100 years old and the dynamics of the present times should have been duly considered before enacting our Cabotage Act. He stressed: “For example, just as the Jones Act,

our Cabotage Act stipulated that vessels that would be used for coastal operation must be owned by Nigerians, built in Nigeria, maintained in Nigeria and crewed by Nigerians. “This is an anomaly when we all know fully well that we have not started building ships in Nigeria. This laid the foundation for the abuse of the law and its failure 10 years after. Akinola noted that government was not under obligation to hastily domesticate and imple-

ment international conventions that are detrimental to the interests of Nigerian ship owners. He explained: “For instance, the phase out of the single hull vessels as it concerns ships used for coastal operation should be gradual and long term even though there is an international convention in that regard.” He also called on President Muhammadu Buhari to reverse policies “that have been inimical to the maritime industry” and have promoted smuggling of goods across Nigeria’s borders. Akinola listed the National Automotive Policy, rice and fish quota systems as policies that are negatively hampering port operations and through which Nigeria is losing huge revenue. “In addition to these, President Muhammadu Buhari will do well to address the perennial Apapa gridlock by embarking on a total regeneration and reconstruction of Apapa,” he added.

CFTZ, NEPC hold export forum

he Calabar Free Trade Zone (CFTZ) and Nigerian Export Promotion Council (NEPC) have resolved to promote youth export and international trade at the 8th Nigerian International Maritime Ports and Terminals Expo and Conference holding between 17 and 21 August, 2015. The event is being cosponsored by the Federal Ministry Transport. In a statement by the Chairman, Planning Committee, Mr. Fortune Idu, two events were planned by the organisers for the same venue. He explained that the forum would attract a total of 700 professional delegates with an estimated 1,000 daily visitors to the exhibition. The event is expected to be declared opened by Cross River State Governor, Ben Ayade, and the representatives of the Minister of Transport and Minister of Petroleum Resources who will set the stage for paper presentation by sector heads and leaders of industries. He said: “The eighth Nigerian International Maritime Ports and Terminals Expo and Conference will host all companies involved in marine, ports and logistics.”

Business | Aviation

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

Nigerian seaports record 150m tonnes throughput The port has witnessed improvement since the appointment of Nigeria Shippers Council (NSC) in 2014 as port economic regulator. The volume of cargo has increased from less than 60 million metric tons to over 150 million metric tons, BAYO AKOMOLAFE reports

ollowing the shippers complaints of arbitrary charges by the port terminal operators, which made the cost of doing business very high at ports, the Federal Government appointed the Nigeria Shippers’ Council (NSC) as the Economic Regulator of the seaport on February 14, 2014, to regulate the activities of stakeholders in the sector and monitor the charges they impose on consumers of shipping services. In the last one year of its new functions, the council has turned a round the port and curbed the arbitrary charges. Just last month, the Federal Government gazetted its regulatory role under the title: The Nigerian Shippers’ Council (Port Economic) Regulations, 2015, making it one of the fastest laws to be so gazetted in the sector. Endorsement Experts were of the view that the gazette of the functions of the council was a good thing for the industry. For instance, President of the Association of Nigerian Licensed Customs Agents (ANLCA), Prince Olayiwola Shittu, and the President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA),

Mr. Lucky Amiwero, noted that the performance of the NSC as an Economic Regulator had made it mandatory for the Federal Government to elevate its regulatory functions to cover the shipping sector. Competition The Executive Secretary/ Chief Executive Officer of the council, Mr. Hassan Bello, noted that besides the gains of the ports reforms, there had been a dire need for the council to harness other potential areas of the port sector with a view to enthroning real competition and bringing down the cost of doing business at Nigerian seaports. Sanity He noted that a vacuum had been created by government over the late appointment of the council as an economic regulator. Bello explained that NSC, since it came on stream as a regulator, had helped to sanitise the activities of the seaport sector and brought about some level of efficiency in the industry. Bello stressed that physical barriers to shipping had been removed from the seaport sector due to the activities of the council as the economic regulator. The executive secretary said that due to the various steps taken to make the nation’s seaports the hub of shipping, some landlocked countries were now shipping chemicals to their countries through Nigerian ports. He said: “Also, council has engaged in series of fresh consultations with the stakeholders to modernise and automate their operations. The council is working on a fresh list of charges, rates and tariff that will guide the services offered by concessionaires and foreign shipping agents.” Corruption The executive secretary noted that corruption was still

endemic in port operations. “It is a big albatross, which must be eliminated from the port system for a marked reduction in the cost of doing business. Charges Eight months after it became the economic regulator, the council announced the reversal of progressive storage charges introduced by the terminal operators under the aegis of the Seaport Terminal Operators Association of Nigeria (STOAN) and shipping line agencies under the umbrella of the Association of Shipping Line Agencies (ASLA). It ordered the concessionaires to revert their charges to what was in force as at May 1, 2009, as approved by government. Also, it directed an increase in the free storage period at the port from three to seven days.

The council noted that its investigation had revealed that such charges were not in Ghana, Sierra- Leone, Senegal, Cote D’Ivoire, Togo and other ports in the West and Central African countries. The council equally directed shipping companies to reduce their agency charges from N26,500 to N23,850 per TEU (20-foot containers) and from N48,000 to N40,000 per FEU (40-foot containers). It ordered the shipping agencies to refund container deposits to importers and agents within 10 working days after the return of the empty containers. Since then, cargo throughput has been on the increase at the seaports. For instance, the volume of cargo increased from less than 60 million metric tons to over 150 million metric tons in 2014. It was learnt that cargoes and vessels’ diversion to

Cotonou port in Benin Republic, Accra and Tema ports in Ghana, Lome Port in Togo and Dakar Port in Senegal has reduced. Stakeholder’s opinion According to a Customs Broker, who is the General Secretary of the Tin Can chapter of the Association of Nigerian Licensed Customs Agents, Mr. Kanikwu ChuksDavies, charges that were being collected illegally by these agents of foreign carriers had been embedded in the contract of affreighntment. He insisted that the importer had paid the principal with whom it had a contract. Conclusion The council said that automation of the entire processes and procedures by all the stakeholders was the solution to most of the problems at the seaports.

Containers stacked at the Lagos Port Complex, Apapa

AP Moller sets new productivity record at Lagos Port

he concessionaire of the Lagos container terminal, APM Terminals Apapa Limited, has set a new productivity milestone for container terminals in Nigeria. It was learnt that the company has handled a 62,557 dead weight (dwt) vessel, MV Safmarine Chambal, laden with 4,500

Twenty Equivalent Unit (TEU) at the Lagos Port Complex. Also, it handled 868 container moves within 11 hours, 30 minutes operation. Gross crane productivity was 19 container moves per crane per hour, resulting in berth productivity of 75.63 moves per hour.

Managing Director of the company, Mr. Andrew Dawes, explained that this was the first time the company would cross the important benchmark of 75 berth moves per hour. He said: “We believe that we are the first container terminal in Nigeria to have done so. We believe that this sets a

VESSELS EXPECTED AT LAGOS PILOTAGE DISTRICT S/NO 11 12 13 14 15 16 17 18 19 20

SHIP CLIPPER TRIUMPH SEA DOLPHIN GREEN GUATEMALA EVANTHIA RUI CHANG HAI DESERT SPRING DESERT MELODY MOL NABILA HARMONY N RT AEGIR

AGENT COASTAL SER DERRON ALPHA EUROPA GMTISA GMTS GOLDEN SHIPP GOLDEN SHIPP MOL MSK NIG MSK NIG

PORT SFM F/W ENL/SFM ENL ENL ABTL ABTL APMT APMT APMT

TONNAGE /UNIT 14083.3MT 6900MT 3959.562MT 30707MT 2686MT 35998.06MT 35000MT 450FCL 480FCL 481FCL

E.T.A 5/06/15 22/05/15 22/05/15 28/05/15 24/05/15 21/05/15 26/05/15 25/05/15 23/05/15 24/05/15

LENGTH 178.7M 124M 131.21M 185M 175M 194M 190M 227.9M 223M 209M

CARGO B/WHEAT AGO F/FISH STEEL PRODT G/CARGO B/WHEAT B/WHEAT CONT CONT CONT

new benchmark for container terminals in Nigeria. “Consistent high terminal berth productivity is a critical cost driver for all shipping lines and translates directly into significant bunker cost savings for the industry, and thereby to lower overall supply chain costs for the Nigerian importers,” said Jan Thorhauge, Managing Director of Maersk Line, Nigeria. He added: “MV Safmarine Chambai with a Mobile Harbour Crane operation is quite remarkable. We are delighted and offer our congratulations to the operational team at APM Terminals.” With a container throughput of 699,000 TEU in 2014, APM Terminals Apapa is the leading container terminal in

Nigeria by market share. Since 2006, APM Terminals has invested $350 million in expansion and upgrades to infrastructure more than doubling capacity whilst eliminating vessel waiting times, improving productivity and removing bottlenecks, thereby reducing supply chain cost for Nigeria’s business community. As the only container terminal in Nigeria with rail services, Dawes said that APM Terminals Apapa now operates three weekly rail services to the inland cities of Kaduna and Kano, 730 kilometres and 960 kilometres from Lagos respectively, thereby providing a key corridor to Nigeria’s inland cities and helping reduce the traffic bottleneck around the Lagos ports.

Photo | News

L-R: Speaker, Ekiti State House of Assembly, Right Hon. Kola Oluwawole; Deputy Governor, Dr Olusola Eleka and Senator representing Ekiti North senatorial district in the National Assembly, Senator Duro Faseyi, at a thanksgiving service and reception in honour of Hon. Kehinde Agboola.

L-R: Wife of the Commandant-General, Nigeria Security and Civil Defence Corps (NSCDC), Amina Muhammadu; Mr. Abdullahi Muhammadu and Permanent Secretary, Ministry of Interior, Alhaji Abubakar Magaji, during Abdullahi Muhammadu’s decoration as the Commandant-General, Nigeria Security and Civil Defence Corps (NSCDC) in Abuja. PHOTO: NAN

L-R: President, Maryland Rotary Club, Rotn Dr. Olufemi Akodu; District Governor, 9110, Rotn Bolaji Onabadejo; his wife, Aina Serah Onabadejo and Club’s Charter President, Rotn Bola Oyebade, during Onabadejo’s visit to the Club in Lagos.

L-R: Mr. Opena Anobili; Past District Governor, Dr. Herbert Ajayi; District Governor, District 404B-1 Lions Club, Nigeria, Idowu Omolola Anobili; Lion Stella Agbogun and Dame Adetope Tychus, during the formal presentation of Omolola as District Governor in Lagos.

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

L-R: Ogun State Deputy Governor, Mrs. Yetunde Onanuga; new Group Managing Director, Lafarge Africa Plc., Peter Hoddinott; Governor Ibikunle Amosun; Managing Director, Lafarge, Peju Babejo and Head, Geocycle Africa, Pierre Delcroix, during the visit by Lafarge’s team to the Governor Office, in Abeokuta.

Former Minister of Works, Dr. Mike Onolememen (left), with the Managing Director/CEO, Brickred Consult Limited, Dr. Dan Okehi, during the Walden University PhD graduation in Baltimore, Maryland, USA.

L-R: President, Nigerian Labour Congress, Comrade Ayuba Wabba; Deputy General Secretary, Comrade Chris Ugot and Director, HUNAN and TURIGHT/ITUC, Mr. Mamadu Diallo, during the African Region Organisation of International Trade Union Confederation (ITUC-AFRICA) Annual-MAN and Trade Union work meeting in Abuja…yesterday... PHOTO: ELIJAH OLALUYI

A cross-section of Tai Solarin Organisation members on 2015 Tai Solarin Memorial Walk in Yaba, Lagos. PHOTO: GODWIN IREKHE

Politics 35

NEW TELEGRAPH WEDNESDAY, JUly 29, 2015

CONTINUED FROM PAGE 13

over the world; the only thing that separates the country that works and the country that doesn’t work is just vigilance of the citizenry. We should not just leave our leaders; we should also be involved. So, let us work together, form a coalition and let us start working and doing what we can. Let us do the needful for Nigeria.” She also urged civil societies not to relent in their struggle in making Nigeria a better society. Abiola-Costello, the founder of Kudirat Initiative for Democracy (KIND), also implored people to partner with KIND in promoting good ideals in the country and empowering Nigerian women. Also speaking, OkeiOdumakin said the documentary teaches personal sacrifice and therefore urged all Nigerians, especially the leaders to learn selflessness, altruism and life of service from the documentary. She said: “I see the documentary in light of the story of a life’s ultimate, altruistic, personal capital investment. It is a documentary that teaches personal sacrifice to younger generation, especially to youngsters who were not around during the June 12, 1993 annulment crisis. The crisis was both life-threatening as well as very dicey. MKO Abiola was between choosing his own freedom and dying for the freedom of others; but he went for the latter. It is a documentary that has although come late, but is well worth teaching always, even in classrooms. “Ultimately, ‘The Supreme Price’ documentary reminds of the mass movement of Nigerians, the unification of voices, ethnics and religions. It was the period heralding transition from military to democracy. If there is anything this era reminds us of about the June 12, 1993 period as captured in the documentary, ‘The Supreme Price’, it is the new division along ethnic and religious lines by present-day politicians. So, the documentary, ‘The Supreme Price’, among other things, reminds me of the oneness of voice of Nigerians, before emergence of the new era of divisions. “The greatest lesson from the documentary is to learn how to live forever, by living for others. By this, I mean, being selfless. More so, I would wish for Nigerians to allow the democracy that some heroes and heroines died for, to work by not working for personal interests that are capable of impairing

Unveiling ‘The Supreme Price’ smooth operation of democracy.” Several international media have applauded the documentary. In its review, The New York Times states: “Taking a long historical view of a troubled country struggling to emerge from a military dictatorship is Joanna Lipper’s documentary “The Supreme Price,” about Nigeria’s female-directed democracy movement. After a military coup in 1993, M. K.O Abiola, a pro-democracy leader who was consid-

ered the victor in aborted presidential elections that year but never took office, was imprisoned in 1994. Four years later he died under suspicious circumstances. After his imprisonment, his fearless, eloquent wife, Kudirat, took over the movement’s leadership, but she was assassinated in 1996. The history is told through the eyes of their daughter Hafsat Abiola, a Harvard-educated crusader for human rights and democracy who now leads a movement to dismantle

the country’s patriarchal structure.” The Economist also applauded the documentary. In its review, the magazine states: “Ms Lipper has used previously unseen archive footage to great effect with the story moving effortlessly between past and present, talking heads and footage from the campaign trail, personal moments and public opinions. There are moments of terrible sadness... But Ms Lipper just as deftly includes moments of surreal comic horror... The

themes are heavy: murder and injustice, in a country ravaged by oil money and military rule. It hardly sounds like a recipe for an uplifting film, but Ms Lipper has been careful to ensure that the story is more about going forward than dwelling on the tragedy of the past... it is surely a good thing that a film like this now exists, touching on the issues the kidnappings brought to life and showing how important women are to a country like Nigeria and why it is in everyone’s interest to

listen to them.” The Washington Post in its review of the documentary states: “Some of the best documentaries tell inspiring stories of people overcoming the unthinkable... With an uptick in kidnappings and killings, the situation in Nigeria is looking bleak. How exactly did the country get to such a state? Joanna Lipper’s film looks at the pro-democracy movement in the corrupt African nation but also gives a helpful tutorial on Nigerian politics.”

Politics

TONY ANICHEBE writes on the tantrums between the Akwa Ibom State chapters of the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) over an alleged bribery of the governorship election petition tribunal

WEDNESDAY, JUly 29, 2015 NEW TELEGRAPH

Endless battle in Akwa Ibom

he 2015 governorship election in Akwa Ibom State may have come and gone, but the smoke from the poll is still thick in the air, especially on allegations of bribery against the governorship election tribunal. In a petition to the Department of State Services (DSS), the All Progressives Congress (APC) had accused the immediate past governor of the state, Senator Godswill Akpabio of bribing the state Resident Electoral Commissioner (REC) of the Independent National Electoral Commission (INEC), Mr. Austin Okojie, in order to frustrate the party’s petition. The APC alleged that Akpabio bribed Okojie with N2.5 billion to frustrate the party’s petition challenging the election of Mr. Udom Emmanuel as governor. New Telegraph gathered that in the petition dated July 8 and addressed to the Director General of the DSS and Inspector-General of Police, the APC, through its counsel, Victor Iyanam, accused Okojie of collecting the bribe from the former governor to work against its interest and that of its governorship candidate, Okon Umanah Umanah, at the tribunal. Iyanam alleged that the bribe was paid by the Akpabio government prior to the April elections to compromise the REC and make him feel “obliged to complete the corrupt process by doing everything possible to frustrate the governorship election petition of the APC candidate.” He said the APC was compelled to issue the petition after several complaints against the continued refusal by INEC in the state to grant access to the party to inspect election materials, despite the May 12 and 23 as well as June 25 orders of the Governorship Election Petition Tribunal for Akwa Ibom State. Following allegations of threats to security by the APC, the Federal Government had approved the relocation of the tribunal from Uyo, the state capital, to Abuja, while all materials associated with the poll were also moved to Abuja. To ensure full compliance with the directive to transfer the election materials to Abuja for forensic analysis and inspection to be conducted in a free and fair environment, Iyanam said the tribunal had also ordered that officials of the DSS and police be available during the inspection exercise. The APC, however, said Okojie had neither obeyed any of the orders of the tribunal nor cooperated with the party to carry out the inspection “principally due

Emmanuel

to the fact that the sum of N2.5 billion was disbursed to him by the previous government of Chief Godswill Akpabio prior to the general elections.” Iyanam cited instances where he claimed the REC had demonstrated commitment to frustrate the APC, accusing him of bringing only some of the sensitive election materials from Uyo to Abuja and ensuring that they were not handed over to anybody for custody. Consequently, he said as at July 8, the APC has not been able to access the materials since they arrived from Uyo, with the July 20 deadline for the completion of the inspection fast approaching. “The objective of the delay tactics employed by Mr. Okojie on behalf of the Peoples Democratic Party (PDP) is to prevent the APC candidate from using the evidence to effectively prosecute his case at the election tribunal,” Iyanam said. Other INEC officials accused by the APC of working against its interest include the head of the Legal Services Department of INEC in Akwa Ibom, Uche Okorie, and his counterpart at the INEC headquarters. The duo were accused of conniving to abandon election materials brought from Uyo to Abuja in the rain. Besides, with the formal trial in the petition which commenced on July 14 and to last only 14 days, Iyanam said the deliberate delay in completing the forensic inspection of the materials was to ensure that the APC and its candidate would not be able to gather sufficient evidence to prosecute their petition. The APC accused Okojie and his officials of working to cause “irreparable damage to the election materials,” as most of the documents brought from Uyo were already destroyed on arrival in Abuja. “Water was deliberately poured into the bags of materials, while some were kept under the rain, contrary to the established practice of keeping the materials in envelops according to their polling units,” APC said.

Umana

The APC should concentrate on the kernel of its petition without denigrating individuals and institutions

The party listed some of the election materials that were mutilated and destroyed to include Polling Unit Result Sheets, Form EC 8A for the 2982 units in the state; Ward Result sheets, Form EC 8B for the 329 Wards; and Local Government Result Sheet, Form EC 8C for the 31 Local Government Areas. “The conduct of the REC, absolutely criminal in content, reckless in execution and done with impunity, is not only a breach of public trust, but would have catastrophic consequences if allowed to go unpunished in order to serve as a deterrent,” the APC said. Reacting to the deluge of allegations, the Akwa Ibom State Chairman of the PDP, Obong Paul Ekpo, took a swipe at the APC over the allegation that the petition of their (APC) gubernatorial candidate is being frustrated by bribe allegedly offered to Okojie by Akpabio. Ekpo described as false, spurious and baseless, the cry by the APC, accusing Akpabio of bribing the state REC. The PDP chairman stated that it was not necessary to join issues with the APC, which he said is reputed to thrive on propaganda and blackmail, stating, however, that it was pertinent to set the records straight so that the gullible and unsuspecting public is not misled and misinformed by the APC. He noted that the bribe story only exists in the imagination of its authors, challenging the APC to present evidence of how the alleged sum of N2.5 billion was disbursed to INEC officials by the state government, through whom, and by what channel it was transmitted. Ekpo berated the APC for what he termed its provocative acts of mudslinging, in a desperate bid to arm twist the election tribunal and influence its judgement. He said this tact will not work. He also disclosed that the PDP was aware that the DSS, was quizzing some Akwa Ibom top INEC officials, noting that acts of intimidation and abuse of power were unnecessary in a democracy. Also speaking, the counsel to PDP, Paul Usoro (SAN) revealed

that INEC has made available in Abuja, electoral materials used in the conduct of the April 11, 2015 governorship polls in obedience to the Election Tribunals order and that inspection and photocopy of materials have begun in earnest, wondering why people should peddle false information on a straight forward matter. Usoro said rather than engage in media propaganda and needless manipulation of public sentiments, the APC should concentrate on the kernel of its petition without denigrating individuals and institutions. Speaking in an interview with New Telegraph, the Chief Press Secretary to the governor, Ekerete Udoh said it appears the APC is more interested in manufacturing issues, most of which defy logical analysis. Udoh said: “Let me on behalf of the five million people of Akwa Ibom State thank the APC for finally agreeing that elections did take place in Akwa Ibom State on April 11, and that Udom Emmanuel of the PDP was massively and overwhelmingly voted into office as the governor. “With this acknowledgement, I hope the APC can now join hands to build our state and support the people-centric programmes of the Udom Emmanuel administration.” But Emmanuel’s kinsman and the governorship candidate of the Accord Party in the April 11 election in Akwa Ibom State, Bishop Samuel Akpan told New Telegraph that the governorship election was marred by widespread irregularities, fraud and violence and in most polling units, there was indeed no election at all. “The results that were eventually announced by INEC as election results were cooked by INEC in people’s private homes,” he said. As it stands, both parties are still up in arms against each other in the battle to see who carries the day at the governorship election tribunal. It is only left to be seen how the DSS will react to the bribery allegation petition from the APC.

Business | Money Line

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

CBN: Oil imports gulped $2.81bn forex in Q1 2015 HEFTY

oil imports accounted for $2.81 billion or 33.3 per cent of the total foreign exchange allocated for visible imports in the first quarter of this year. The Central Bank of Nigeria (CBN) revealed this in its external sector development report for Q1 2015. It noted, “In Q1 2015, a total of US$14.17 billion was utilised for visible and invisible trade as against US$17.45 billion and US$18.13 billion in the preceding and corresponding quarters in 2014, indicating decreases of 18.8 and 21.8 per cent, respectively. Out of the total amount

Commodity accounted for 33.3 per cent of amount utilised for visible imports funds Tony Chukwunyem

mid continuing debate over whether the Federal Government should scrap the subsidy on petroleum products or not,

utilised, visible imports at US$8.43 billion accounted for 59.5 per cent of the total, while invisibles valued at US$5.74 billion accounted for the balance. “Further analysis revealed that out of the amount utilised for visible imports, oil imports gulped US$2.81 billion or 33.3 per cent, while that of industrial, food and manufactured sectors amounted to US$2.48, US$1.42 and US$1.28 billion, and accounted for 29.4, 16.8 and 15.2 per cent of total visible imports, respectively. Other sectors accounted for the

balance.” Besides, the report stated that invisible imports was dominated by financial services, which utilised US$4.61 billion (80.2per cent), while business, transportation and educational services utilised US$0.48 billion or 8.4 per cent, US$0.18 billion (3.0per cent) and US$0.12 billion (2.0%), respectively. Meanwhile, the report also disclosed that the aggregate demand for foreign exchange by the authorised dealers consisting of Retail Dutch Auction System (RDAS)

‘Funding, key to youth, female entrepreneurship growth’ –Survey

survey by Global Entrepreneurship GeoPoll, a mobile survey platform, has identified funding as the resource most needed to help develop youth and female entrepreneurs in Africa. The study targeted 1,000 entrepreneurs across five African countries; 200 entrepreneurs per country in Nigeria, the Democratic Republic of Congo, Ghana, Kenya and South Africa and was conducted via Short Messaging System (SMS) in July, this year. In the survey, respondents were asked about

categories were identified, including business development and management training or courses, agricultural activities, entrepreneurship programmes, and financial training”, it said. Also, the survey found that when asked what would most help increase the number of entrepreneurs in their country, 36 per cent said “more financial resources”, 24 per cent - “better facilities/services” while 23

what resources were most needed to encourage entrepreneurship, what programmes they had participated in to improve their businesses and what were the biggest challenges facing new businesses. According to a statement issued by the organisation, 44 per cent of respondents participated in a programme or activity in the past year aimed at improving their business. “Of these open-ended responses, several key

per cent opted for “government support”. It said there was a strong desire for more training resources, with training programmes and entrepreneurship courses in school being the most popular responses to a question on how government could help people start businesses. The appraisal also found social media to be the most popular online tool for supporting business growth.

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

N19,142,526.05m N18,579,219.49m 9.2 13 10.77 US$56.51 US$30,845,668,318

As at Mar, 2015 Mar, 2015 June, 2015 4/6/2015 Mar 2015 27/7/2015 24/7/2015

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 98.05 100.37 103.11 102.50 106.29 96.83 68.00 84.36

1.05 1.75 3.92 4.55 6.50 8.63 14.99 18.97

NIBOR

Tenor (Days) Call 30 90 180

Rate (%) 10.2083 14.8879 16.1935 17.3041

Bid Yield 15.10 14.81 14.91 14.76 14.85 14.85 15.57 14.60

Change (%) -2.04 ▼ -0.58 ▼ -0.41 ▼ -0.24 ▼

Change (%) 0.14▲ 0.02 ▲ -0.01▼ 0.04 ▲ -0.10▼ -0.11▼ 0.00 ↔ -0.04▼

Price 98.20 100.52 103.41 102.80 106.59 97.13 68.30 84.66

Tenor (Months)

Offer Yield 14.94 14.71 14.81 14.67 14.78 14.79 15.50 14.55

NITTY

1 2 3 6 9 12

Treasury Bills

Rate (%) 11.0528 12.9346 13.4717 13.6407 13.6735 14.8079

Spot($/N)

Offer 198.52

Change (%) -0.89▼ 0.13 ▲ -0.18▼ -0.06▼ -0.60▼ 0.43▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 13.21 13.67 -0.01 ▼ Open-Buy-Back (OBB) 9.42 29-Oct-15 13.46 13.94 -0.01 ▼ 13.46 14.44 -0.02 ▼ Overnight (O/N) 9.83 28-Jan-16 13.71 14.72 -0.02 ▼ 12.53 14.02 -0.05 ▼ 02-Jun-16 12.78 14.33 -0.05 ▼ Bid 198.42

Change (%) 0.14 ▲ 0.02 ▲ -0.01▼ 0.04 ▲ -0.10▼ -0.11▼ 0.00 ↔ -0.04▼

Change (%) 0.38 ▲

NIFEX

Spot($/N)

Bid 199.0000

Offer 199.1000

Change (%) -0.58▼ -0.75▼

Change (%) 0.00 ↔

CBN Clearing Rates of July 28, 2015 Spot($/N)

196.00

197.00

0.00 ↔ Source: FMDQ

and Bureaux De Change (BDC) operators during the period, amounted to, “US$9.51 billion as against US$14.47 billion and US$16.20 billion demanded in the preceding and corresponding quarters in 2014, representing declines of 34.3 and 41.3 per cent, respectively.” According to the report, demand at the Retail Dutch Auction System (RDAS) segment of the market was US$8.65 billion while that of the BDC segment amounted to US$0.86 billion in the review period. The apex bank also noted, “aggregate supply of foreign exchange declined from US$7.47 billion or 45.9 per cent and US$10.93 billion or 63.0 per cent in Q4 2014 and Q1 2014, respectively,

to US$4.04 billion in Q1 2015 out of which RDAS and BDC sales amounted to US$3.18 billion and US$0.86 billion, respectively.” The regulator attributed the decline in both demand and supply of foreign exchange during the period to the closure of the RDAS window in February 2015, “as part of the foreign exchange market reforms aimed at conserving external reserves and unifying the exchange rate as well as reducing the demand pressure in the market.” President Muhammadu Buhari recently hinted that his administration was not yet ready to remove subsidy on petroleum products despite widespread calls for him to do so.

GTBank is Euromoney ‘Best Bank in Nigeria’

uromoney has named Guaranty Trust Bank Plc. ‘Best Bank in Nigeria’. The lender won the award during the 2015 Euromoney Awards held at the Natural History Museum in London recently, a statement by the bank said. The Euromoney Awards for excellence covers more than 20 global product categories in over 100 countries. It recognises institutions that have demonstrated leadership, innovation, and momentum in the markets they operate. In selecting its recipients, Euromoney combines quantitative and

qualitative data to honour institutions that have brought the highest levels of service, innovation and expertise to their customers. The statement quoted the Editor, Euromoney Magazine, Mr. Clive Horwood, as saying, “Competition for the awards this year was tough, arguably the toughest it has been since the start of the global financial crisis. “In winning this award, GTBank stands out not only because of its stellar performance but by its ability to define what its core strengths are, abide by these strengths and build its business around them.”

S’Africa plans extending sukuk to corporate issuers

outh Africa’s Treasury has proposed extending tax reforms to facilitate the issuance of sukuk, or Islamic bonds, by listed companies after the government did a $500 million debut deal last September. Sukuk transactions in Africa have been few and infrequent but this is gradually changing as governments see an opportunity to tap cash-rich Islamic investors from the Gulf and Southeast Asia. Senegal issued sukuk for the first time in June last year while Niger, Nigeria and Ivory Coast are planning debut deals. South Africa introduced tax amendments

in 2011 to allow the government to issue sukuk and this was extended to public entities in April this year. The proposed changes will come into effect in January 2016. “It has always been the government’s intention to ensure that these financing arrangements are accessible to other entities as well as an additional source to raise capital,” the Treasury said in the draft of the legislation. Taxation is often problematic for sukuk because of their asset-backed nature, which means multiple asset transfers may be required for a transaction to take place, creating a heavy tax burden for issuers unless special legislation is in place.

Business | Financial Market News

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

FMDQ Daily Quotations List

28-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)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

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

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

1.05 1.75 2.00 2.09 2.84 3.92 4.24 4.55 6.50 8.63 13.34 13.82 14.32 14.99 18.97

15.10 14.81 14.82 14.82 14.86 14.91 14.82 14.76 14.85 14.85 16.13 16.30 16.48 15.57 14.60

14.94 14.71 14.72 14.73 14.79 14.81 14.71 14.67 14.78 14.79 16.07 16.23 16.40 15.50 14.55

98.05 100.37 91.68 90.43 90.59 103.11 75.99 102.50 106.29 96.83 93.82 79.26 56.55 68.00 84.36

98.20 100.52 91.83 90.58 90.74 103.41 76.29 102.80 106.59 97.13 94.12 79.56 56.85 68.30 84.66

TOTAL OUTSTANDING VALUE

4,890.82

TOTAL MARKET CAPITALISATION

4,469.38

Rating/Agency

Issuer

Description

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

0.93 1.37 1.73 1.94

2.94 1.00 2.66 3.13

17.74 15.89 17.53 17.96

99.58 100.07 102.94 98.65

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

300.11

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.09

4.44

15.90

99.63

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.18

3.23

16.10

99.41

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

2.60

30-Jun-16

0.67

4.46

19.21

96.83

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

3.96

30-Jun-16

0.68

3.48

18.23

98.28

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.73

1.00

15.87

91.37

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

21.24

30-Jun-17

1.22

1.00

15.86

97.75

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.43

1.79

16.63

94.89

14.00

30.81

30-Sep-18

1.81

1.00

15.86

97.22

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.82

1.00

15.85

97.19

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

2.01

1.00

15.82

97.83

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

2.01

4.78

19.60

91.34

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

1.99

1.00

15.82

99.47

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

2.43 4.32 2.49

2.02 1.00 1.00

16.86 15.80 15.84

97.41 95.99 97.86

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

3.03

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

5.33

1.00

15.78

91.93

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.43

1.00

15.78

97.18

‡ /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

3.27

1.00

15.89

96.68

06-Jan-14

15.00

4.31

06-Jan-21

3.30

1.00

15.89

97.85

99.89

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

440.27 419.07

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.06

1.00

11.84

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

9.38

09-Dec-15

0.37

1.00

15.40

98.79

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.22

06-Jan-16

0.44

2.63

17.22

98.59

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.17

1.00

15.85

97.00

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.24

1.34

16.21

97.80

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.18

1.00

15.82

94.91

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.41

1.88

16.78

102.15

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.45

1.00

15.91

100.06

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.62

1.00

15.90

102.72

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.62

1.00

15.90

100.09

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.18

3.00

17.88

90.83

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.72

2.29

17.16

97.95

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

1.80

6.11

20.97

96.00

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.43

2.16

17.00

98.04

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.30

2.76

17.53

92.24

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.32

1.80

16.65

90.78

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.43

1.00

15.86

102.30

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

9.18

1.00

15.99

101.35

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.18

1.00

15.99

86.98

TOTAL OUTSTANDING VALUE

177.87

TOTAL MARKET CAPITALISATION

169.03

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.54

1.00

14.06

91.98

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

3.76

1.00

15.90

87.43

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 22.36

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

6.53

6.27

101.00

102.18

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.49

5.08

99.02

100.11

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.77

6.59

97.61

98.69

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,488.17

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

4.75

102.13

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.36

98.00

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

11.77

11.15

88.67

90.01

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.78

7.27

94.92

96.34

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.82

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

10.94

10.04

93.28

95.97

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

9.71 10.72 10.11

9.71 10.37 10.11

93.70 93.88 90.00

93.70 95.31 90.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.92

10.22

89.88

92.75

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,447.16

**Treasury Bills^ DTM 9 16 30 37 44 58 65

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

Bid Discount (%) 10.03 11.08 10.92 12.20 12.22 12.33 13.17

Offer Discount (%) 9.78 10.83 10.67 11.95 11.97 12.08 12.92

Bid Yield (%) 10.05 11.13 11.01 12.36 12.40 12.58 13.49

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.2083 14.8879 16.1935 17.3041

Rate (%)

OBB

9.42

O/N

9.83

Tenor Call

REPO

Rate (%) 10.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M

198.42 199.30 200.02 200.85 202.41

198.52 199.56 200.31 201.17 203.03

^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

4,469.38

Rating/Agency

Description

Issuer

23-Jul-30 18-Jul-34

14.99 18.97

15.57 14.60

15.50 14.55

68.00 84.36

68.30 84.66

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

0.93 1.37 1.73 1.94

2.94 1.00 2.66 3.13

17.74 15.89 17.53 17.96

99.58 100.07 102.94 98.65

Agency Bonds FMBN

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015 ***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

Business | Financial Market News

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

300.11

Stock market down by N66bn

UNCERTAINTY Sub-National Bonds 31-Aug-10 A/Agusto KADUNA 12.50 KADUNA 31-AUG-2015 Equities drain as *EBONYI 30-Sep-10 A-/Agusto 13.00 EBONYI 30-SEP-2015 30-Jun-11 BBB+/Agusto *BENUE 14.00 BENUE 30-JUN-2016 market confidence 30-Jun-09 ‡ /Agusto *IMO 15.50 IMO 30-JUN-2016 19-Apr-10 10.00 LAGOS 19-APR-2017 A+/Agusto; ‡ /GCR LAGOS the policy direction of shares worth N4.9 bildips 30-Jun-10 13.75 BAYELSA 30-JUN-2017 ‡ /Agusto *BAYELSA EDO

‡ /Agusto; A+/GCR

*DELTA

BBB-/GCR

*C & I LEASING *DANA#{r}

Nil

8.50

31-Aug-15

0.09

4.44

15.90

99.63

2.16

30-Sep-15

0.18

3.23

16.10

99.41

14.00

2.60

30-Jun-16

0.67

4.46

19.21

15.50

3.96

30-Jun-16

0.68

3.48

18.23

98.28

10.00

57.00

19-Apr-17

1.73

1.00

15.87

91.37

sector, enhanced21.24 by ac13.75 tivities 14.00in the shares 25.00 of 14.00Health Care 30.81 Plc Fidson 14.00 9.00 followed with a turnover 14.50 12.40 of 17 14.00 million shares 9.21 val15.50 27.00 ued at N98.4 million in 15.50 15.09 74 deals. 14.50 80.00 14.75 24.74 of Further analysis 14.75 10.46 the day’s trading showed 13.50 87.50 that Transnational 15.00 5.00 Ex4.30 press14.50Plc topped the 15.00 4.31 day’s gainers’ table with 440.27 8.70 per cent to close 419.07 at N1.00 per share, while NCNicholass Plc fol10.00 2.50 lowed12.00 with 4.76 per 9.38cent 14.00 0.22 per to close at N1.32 13.00 15.00 share. African Pruden14.25 5.53 tial Plc 13.00 gained 2.59 20.00 per

the government, lion in 3,458 deals30-Dec-10 was 14.00 EDO which 31-DEC-2017 14.00 DELTA day’s is yet to name the30-SEP-2018 eco- recorded in the 30-Sep-11 04-Oct-11 14.00 NIGER II 4-OCT-2018 Bb-/Agusto; A-/GCR NIGER nomic drivers. trading. 09-Dec-11 Stories Chris Ugwu ‡ /Agusto;by A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018 Consequently, theIII 12-DEC-2018 AllThe banking services 12-Dec-13 Bb-/Agusto *NIGER 14.00 NIGER 14-Feb-12 ‡ /Agusto;rading A-/GCR *ONDO ONDO192.73 14-FEB-2019 sector of the financial Share Index15.50 shed activities 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019 was basis points14.50 orLAGOS 0.6222-NOV-2019 per services segment22-Nov-12 on‡ /GCR the Nigerian Aa-/Agusto; LAGOS BBB-/Agusto; BBB+/GCR *OSUN 12-DEC-2019 the most active 12-Dec-12 (meacent to close14.75 at OSUN 30,614.81 Stock Exchange 10-Oct-13 BBB-/Agusto *OSUN II 10-OCT-2020 index points14.75 asOSUN against sured by turnover vol(NSE) yesterday 27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS 27-NOV-2020 continued to slow down, 30,807.54 recorded the ume); with 189.03 mil31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 ‡ /Agusto to a further loss *EKITI 14.50while EKITI II 31-DEC-2020 leading previous day, the lion shares worth31-Dec-13 N1.4 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 of TOTAL N66 billion. billion exchanged by market capitalisation OUTSTANDING VALUE of equities depreciated investors in 1,310 deals. Market analysts beTOTAL MARKET CAPITALISATION Volume in the sub-seclieve investors, espe- by N66 billion or 0.62 Corporate Bonds per cent to close lower tor was largely driven by cially foreigners, were 10.00 UPDC 17-AUG-2015 17-Aug-10 BBB+/Agusto *UPDC at N10.493 12.00 trillion as unlikely activities in the shares FLOURMILLS 9-DEC-2015 BBB-/Agusto to make sig09-Dec-10 *FLOURMILLS 14.00 CHELLARAMS BB/GCR 06-Jan-11 trillion.06-JAN-2016 of Zenith Bank Plc and nificant investment *CHELLARAMS in against N10.559 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR 29-Sep-11 NAHCO theA-/Agusto market until they Meanwhile, a turnGTB Plc. 14.25 FSDH 25-OCT-2016 25-Oct-13 FSDH had a clear picture UBA of Also, health care subover of 536.8 million 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 ‡ /Agusto

12.50

13.00

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

*TOWER

5.40

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

AAA/DataPro†; A/GCR

*TOWER

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

BBB+/Agusto; BBB+/GCR

*LA CASERA *CHELLARAMS#

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

14-Aug-14

8.75

otal Nigeria Plc has post- the PMS unit margin, which MPR+5.00 CHELLARAMS II 17-FEB-2019 drop in has remained unchanged since 16.00 DANA II 1-APR-2019 Nil ed 10 per cent*DANA A+/Agusto; A-/GCR NAHCO profit before tax for the 2007. 15.25 NAHCO II 14-NOV-2020 14.25 FCMB I 20-NOV-2021 BBB/GCR half year ended JuneFCMB 2015. Chairman Total Nigeria 16.45 UBA I 30-DEC-2021 A/GCR UBA 182D T.bills+1.20 Vice-President, STANBIC IA 30-SEP-2024 A/GCR In a filing with the STANBIC Nigerian Plc and Senior IBTC 13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC Stock Exchange (NSE), the Africa/Middle East, Mr. MoTOTAL OUTSTANDING VALUE company’s pre-tax profit de- mar Nguer, made the appeal TOTAL MARKET CAPITALISATION clined from N2.178 billion dur- at the company’s 36th Annual Bond ingSupranational the comparable period of General meeting (AGM) held 10.20 IFC 11-FEB-2018 AAA/S&P 2014 to N1.967 billion,IFC account- in Lagos. He said the market11.25 AFDB 1-FEB-2021 AAA/S&P AfDB ingAaa/Moody's; for a drop of 10 per cent. ing margin, which is generatTOTAL OUTSTANDING VALUE Gross earnings of the ing the cash flow has not been TOTAL MARKET CAPITALISATION fuel marketer also dipped to reviewed since seven years N111.974Rating/Agency billion from N120.157 in cost of Description Issuer despite the increase billion in the previous year. doing business. FGN Eurobonds Total had reported 79 per “Imagine that your sal6.75 the JAN 28,same 2021 BB-/Fitch; B+/S&P cent drop in net earnings for ary has remained for theBB-/Fitch; first quarter ended March seven years when cumulative FGN 5.13 JUL 12, 2018 BB-/S&P 31,BB-/Fitch; 2015. inflation has been 70 per cent 6.38 JUL 12, 2023 BB-/S&P oil company’s profit The over the period. How would TOTAL after taxOUTSTANDING declined VALUE to N223.219 you manage? That’s what is TOTAL MARKET CAPITALISATION million from N1.069 billion in happening to our industry. theCorporate same Eurobonds period of last year, To my knowledge, there is no indicating a loss of 79GTBANK per cent. other country that has frozen 7.50 MAY 19, 2016 B+/Fitch; B+/S&P PLC I Revenue also wasACCESS flatBANK atPLC margin for such 7.25a JULlong 25, 2017time. B+/S&P 6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC This is not sustainable N60.042 billion, compared with and the 6.00 NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC N60.595 billion last year, a drop margin should be reviewed to 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC of B/Fitch; one per cent. really cater for the cost of do8.75 May 21, 2019 B/S&P DIAMOND BANK PLC ing business in 8.25 theAUG Nigeria enThe oil firm had called the 07, 2020 B-/Fitch; B/S&P FIRSTon BANK PLC 9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II vironment,” he said. Federal Government to review 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P FIRST BANK LTD BBB-/DataPro†; BB/GCR

#{r}

B-/S&P

12-Dec-19

2.49

1.00

15.84

97.86

10-Oct-20

3.03

1.82

16.69

95.66

27-Nov-20

5.33

1.00

15.78

91.93

31-Dec-20

5.43

1.00

15.78

31-Dec-20

3.27

1.00

15.89

96.68

06-Jan-21

3.30

1.00

15.89

97.85

97.18

250.00

14-Aug-21

10.92

10.22

3,650.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

Paint15.86Company Plc 97.75 dropped cent to 16.63 4.51 per 94.89 15.86N1.27 per 97.22share, close at 97.19 while15.85 Livestocks Feeds 15.82 97.83 Plc trailed with91.34 4.50 per 19.60 99.47 cent to15.82 close at N1.91 per 16.86 97.41 share.15.80 95.99

he Chartered Insti- an investment and partute Stockbrokers ents 11.84 should encourage 17-Aug-15 0.06 1.00 99.89 (CIS) has their 15.40 children by buying 09-Dec-15 0.37 reiter1.00 98.79 06-Jan-16 0.44 2.63 17.22 98.59 ated its commitment to shares for them as a re29-Sep-16 1.17 1.00 15.85 97.00 sustained education of1.34 ward 16.21 for good academic 25-Oct-16 1.24 97.80 the youths on performance and 30-Sep-17 2.18the pro1.00 15.82 94.91 a gift 30-Nov-17 1.41 16.78 102.15 or Salah cedures and benefits of1.88 for Christmas 09-Apr-18 1.45 1.00 15.91 100.06 making a career in the celebration. 09-Sep-18 1.62 1.00 15.90 102.72 capital He 15.90 noted that CIS has 09-Sep-18 Market. 1.62 1.00 100.09 30-Sep-18 3.18 3.00 17.88 90.83 The Registrar and always encouraged stu18-Oct-18 1.72 2.29 17.16 97.95 Chief Executive of Chardents 20.97 at all levels to visit 17-Feb-19 1.80 6.11 96.00 tered Institute2.43of Stockits headquarters on an ex01-Apr-19 2.16 17.00 98.04 14-Nov-20 (CIS), Mr. 5.30 Adedeji 2.76 17.53for an interactive 92.24 brokers cursion 20-Nov-21 6.32 1.80 16.65 90.78 Ajadi, stated this at the session with its102.30 officials 30-Dec-21 6.43 1.00 15.86 30-Sep-24 9.18 graduation ceremony of1.00 on the15.99 concept of101.35 the capi30-Sep-24 9.18 1.00 15.99 86.98 SOFUNIX International tal market. schools. He disclosed that the He advised schools to institute has put in place cultivate the habit of cre- Professional Diploma in 11-Feb-18 2.54 1.00 14.06 ating wealth by investing Securities and91.98Invest01-Feb-21 3.76 1.00 through the capital marment 15.90 to attract87.43 a large number of secondary ket. Ajadi, who was the spe- school certificate holders cial guest honour theYield (%) to penetrate the market Maturity Date of Bid Yield (%) at Offer Bid Price Offer Price ceremony urged the par- and make a career in the & Yields medium and short term. ents to demonstrate cul-Prices 28-Jan-21 6.53for their 6.27 102.18 ture of savings He101.00 commended the children as a potent stratschools’ for 12-Jul-18 5.49 5.08 99.02management 100.11 egy for investment in the creating an attractive en12-Jul-23 6.77 97.61 98.69 medium and long term. 6.59 vironment where future He explained that leaders are nurtured. young ones should imbibe Ajadi who expressed the culture of wealth cre- satisfaction at the stanation in order4.75 to develop dard 102.13 of the schools, in19-May-16 4.75 102.13 an entrepreneurship stituted 25-Jul-17 8.36 8.36 98.00an award 98.00for the 02-May-18 11.15 overall 88.67best student 90.01 habit in order11.77 to prepare in 08-Nov-18 7.78 7.27 94.92 96.34 them for purposeful adultEnglish Language in the 22-Apr-19 7.82 7.82 95.00 95.00 hood. in the College 21-May-19 10.94 10.04 final year 93.28 95.97 Ajadi said saving is a as a way of promoting 07-Aug-20 9.71 9.71 93.70 93.70 24-Jun-21 10.72 10.37 93.88 95.31 necessary condition for scholarship. 23-Jul-21 10.11 10.11 90.00 90.00

Nguer noted that Nigeria 0.36 17-Feb-12 18.00 currently is a net importer of 4.50 01-Apr-14 16.00 14-Nov-13 15.25 80 per 2.05 refined products and 20-Nov-14 14.25 26.00 cent of the fuel is imported. 30-Dec-14 16.45 30.50 He 30-Sep-14 added that for16.29 marketing 0.10 30-Sep-14 13.25 company, everything depends 15.44 on allocations and that Total 177.87 Nigeria is not getting its fair 169.03 share of allocation to allow it to 12.00 serve 11-Feb-13 its customers10.20 well. 11.25 “Is 10-Jul-14 it normal that with 12 12.95 per cent market share with 500 24.95 22.36 stations, three first class storOutstanding Value age facilities, a proven Issue Date Coupon (%)record ($mm) of compliance, Total Nigeria only get about 3 per cent of the 07-Oct-11 import allocations?6.75 We would 500.00 like to12-Jul-13 advocate that5.13rules and 500.00 criteria of allocation should be 6.38 made 12-Jul-13 public and applied in full 500.00 transparency, and the compa-1,500.00 nies’ performance with regard1,488.17 to the actual importation be made 19-May-11 public,” he said. 7.50 500.00 Nguer noted that7.25the com- 350.00 25-Jul-12 6.88 pany 09-May-13 is also faced with rising 300.00 08-Nov-13 6.00 insecurity and increasing and 400.00 22-Apr-14 6.25 500.00 confusing burden by the pro21-May-14 8.75 200.00 liferation of tax legislation at 07-Aug-13 8.25 300.00 24-Jun-14 9.25 400.00 both federal and local levels. 450.00 23-Jul-14 8.00

8.75 AUG 14, 2021

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE

96.83

CIS reinstates commitment to financial literacy

0.56

Total Nigeria reports 10% H1 pre-tax profit decline A-/DataPro†; B+/GCR

cent to close at1.22 N2.77 per1.00 30-Jun-17 share. 31-Dec-17 2.43 1.79 30-Sep-18 On the flip 1.81 side NEM1.00 04-Oct-18 1.82 Insurance Plc led the1.00 09-Dec-18 2.01 1.00 losers’ 12-Dec-18 with a 2.01drop of4.78 14-Feb-19 1.99 close at 1.00 4.76 per cent to 02-Oct-19 2.43 2.02 6022-Nov-19 kobo per share, while1.00 4.32

89.88

92.75

28-Jul-15

3,447.16

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 30 FGN Bonds 37 44 58 Rating/Agency 65 79 86 93 107 121 128 135 142 149 NA 163 170 177 184 191 198 205 212 219 TOTAL OUTSTANDING VALUE 233 240 TOTAL MARKET 247 CAPITALISATION 254

6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 Issuer 1-Oct-15 15-Oct-15 22-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

268

10.03 11.08 10.92 12.20 12.22 12.33 Description 13.17 13.36 ^13.05 16-AUG-2016 11.55 ^15.10 27-APR-2017 13.46 9.85 27-JUL-2017 13.29 13.63 9.35 31-AUG-2017 12.76 10.70 30-MAY-2018 13.69 ^16.00 29-JUN-2019 12.77 7.00 23-OCT-2019 13.64 ^15.54 13-FEB-2020 12.89 ^16.39 27-JAN-2022 13.78 ^14.20 14-MAR-2024 12.91 15.00 28-NOV-2028 13.71 12.49 22-MAY-2029 13.04 13.52 8.50 20-NOV-2029 13.49 ^10.00 23-JUL-2030 13.73 ^12.1493 18-JUL-2034 13.21 13.52 13.45 13.72 13.41

21-Apr-16

Rating/Agency 282

13.46

Issuer 5-May-16

310

12.74

2-Jun-16

9.78 10.83 10.67 11.95 11.97 12.08 Issue Date 12.92 13.11 16-Aug-13 11.30 27-Apr-12 13.21 27-Jul-07 13.04 13.38 31-Aug-07 12.51 30-May-08 13.44 29-Jun-12 12.52 23-Oct-09 13.39 13-Feb-15 12.64 27-Jan-12 13.53 14-Mar-14 12.66 28-Nov-08 13.46 22-May-09 12.79 13.27 20-Nov-09 13.24 23-Jul-10 13.48 18-Jul-14 12.96 13.27 13.20 13.47 13.16

Description

12.78

13.21

10.05 11.13 11.01 12.36 12.40 12.58 Coupon (%) 13.49 13.75 13.05 11.87 15.10 13.94 9.85 13.83 14.27 9.35 13.36 10.70 14.42 16.00 13.44 7.00 14.45 15.54 13.67 16.39 14.72 14.20 13.77 15.00 14.72 12.49 14.00 14.58 8.50 14.60 10.00 14.92 12.1493 14.35 14.79 14.75 15.12 14.79

Bonds

14.93

Issue 14.12Date

12.49 12.53

Tenor O/N 1M 3M Outstanding 6M

(N'bn)

Value

Rate (%) 10.2083 14.8879 16.1935 17.3041

4,890.82

9.42

O/N

9.83

Tenor Call 1M 1.05 3M 1.75 6M

Maturity Date

581.39 16-Aug-16 480.13 NITTY 27-Apr-17 20.00 27-Jul-17 Tenor Rate (%) 1M 11.0528 100.00 31-Aug-17 2M 12.9346 300.00 30-May-18 3M 13.4717 351.30 29-Jun-19 6M 13.6407 233.90 23-Oct-19 9M 13.6735 261.73 13-Feb-20 12M 14.8079 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) 591.57 199.0000 23-Jul-30 OFFER ($/N) 199.1000 340.50 18-Jul-34

OBB

REPO

TTM (Yrs)

Rate (%) 10.00 11.00 15.10 12.00 14.81 13.00

Bid Yield (%)

Tenor

Spot 7D 14D Offer 1M Yield 2M (%) 3M 14.94 6M 14.71 1Y

2.00 14.82 14.72 2.09 14.82 14.73 2.84 14.86 14.79 :Benchmarks 3.92 14.91 14.81 * :Amortising 4.24Bond 14.82 14.71 µ :Convertible Bond 4.55 14.76 14.67 AMCON: Asset Management Corporation of Nigeria 6.50 14.85 14.78 FGN: Federal Government of Nigeria 8.63 14.85 14.79 FMBN: Federal Mortgage Bank of Nigeria 13.34 Finance Corporation 16.13 16.07 IFC: International 13.82 16.30 Management 16.23 LCRM: Local Contractors Receivables NAHCO: Nigerian 14.32 Aviation Handling 16.48 Company 16.40 O/N: Overnight 14.99 15.57 15.50 UPDC: UAC Property Development 18.97 14.60Company 14.55

NOTE:

WAPCO:West Africa Portland Cement Company

Bid ($/N)

Offer ($/N)

198.42 198.52 Price 199.56 199.30 200.02 200.31 200.85 201.17 Bid Price Offer Price 202.41 203.03 205.17 206.06 98.05 98.20 210.99 212.45 100.37 100.52 224.57 227.72

91.68 91.83 90.43 90.58 90.59 90.74 NA :Not 103.11 Applicable 103.41 ^ : Market Prices 75.99 76.29 # : Floating Rate Bond 102.50 102.80 ***: Deferred coupon bonds 106.29 106.59 97.13 ‡ : Bond 96.83 rating under review 93.82 expired 94.12 †: Bond rating 79.56 N/A :Not 79.26 Available {r} :Issuer in receivership 56.85 56.55 68.00 68.30 NGC: Nigeria-German Company 84.36 84.66 UBA: United Bank for Africa

4,469.38 #

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

0.93 1.37 1.73 1.94

2.94 1.00 2.66 3.13

17.74 15.89 17.53 17.96

99.58 100.07 102.94 98.65

14.33

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

***LCRM

**Exclusive of non-trading t.bills

TOTAL OUTSTANDING VALUE

297.52

TOTAL MARKET CAPITALISATION

300.11

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 1,080.38 10.00 LAGOS 19-APR-2017 13.75 BAYELSA1,218.66 30-JUN-2017

676.03 14.00 EDO 31-DEC-2017 2,975.06 14.00 DELTA 30-SEP-2018

Total Outstanding Volume(Bn)

1,061.83 1,199.99 916.07 3,177.88

30-Sep-10 Weighting by Outstanding Vol 30-Jun-11 30-Jun-09 33.41 19-Apr-10

37.76 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 36.31

13.75 40.96

14.00 22.72 100.00 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 0.33 21.24 0.38 25.00 0.29 30.81 1.00

0.09 0.18

Implied Yield

0.67

30-Jun-16 17.96 19-Apr-17

0.68 14.84 1.73

38.56 30-Jun-17 43.48 31-Dec-17 100.00 30-Sep-18

14.85 1.22 15.17 2.43 14.99 1.81

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

1.82

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

12.40

09-Dec-18

2.01

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

9.21

12-Dec-18

2.01

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

1.99

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

2.43 4.32 2.49

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.46

10-Oct-20

3.03

4.44 3.23 Implied Portfolio Price 4.46 3.48 124.8929 1.00 129.5508 1.00 92.4511 1.79 117.3000 1.00 1.00 1.00 4.78 1.00 2.02 1.00 1.00 1.82

15.90

99.63

16.10

99.41 YTD Return (%) 96.83

INDEX

19.21 18.23 1,136.24 15.87 1,123.13 15.86 1,114.59 16.63 1,117.00 15.86 15.85 15.82 19.60 15.82 16.86 15.80 15.84 16.69

98.28 2.5624 91.37 10.9184 97.75 10.6827 94.89 5.8585 97.22 97.19 97.83 91.34 99.47 97.41 95.99 97.86 95.66

40 News

Osun judge gives condition to appear before Aregbesola’s probe panel Adeolu Adeyemo Osogbo

ustice Olamide Folahanmi who was summoned by the Osun State House of Assembly seven man committee to appear before it yesterday for the her defence on the allegations of financial impropriety leveled against Governor Rauf Aregbesola, insisted that she will not appear before the committee unless she gets the governor’s response to her allegations. The shocked members of the panel, insisting that she would not appear in person until a copy of the

WEDNESDAY,JULY 29, 2015 NEW TELEGRAPH

SOUTH-WEST

reply to her petition by the governor is given to her. But the Chairman of the probe panel, Hon. Adegboye Akintunde, stated that it was not compulsory Aregbesola’s response be made available to the petitioner. The judge who appeared by proxy yesterday at the state House of Assembly complex before the committee members lamented why reply of the governor to her petition would not be given to her before being summoned by the lawmakers probing her allegations. Speaking through a Senior Advocate of Nigeria (SAN), Mr. Lanre

Ogunlesi, after a closeddoor meeting with the seven-man committee, Folahanmi, affirmed that “justice and fair hearing demand that the petitioner be availed with the governor’s response to the petition”. “Fear hearing demands that as a first step to defending the petition, it is necessary for the petitioner to be provided with the governor’s response. “What we discussed with them was that for us not to waste time on this matter, answers to the petition by the governor must be provided.’’ “They said the committee was a fact-finding one,

but the issue at stake was a serious one and for the sake of posterity and the people yet unborn, they need to forward the required response. “She may even come out and say I am sorry, I withdraw my petition after going through the governor’s reply and may not need to see the committee again. In his response however, Akintunde, maintained that Aregbesola’s response to the judge petition was a confidential document sent to the House of Assembly by the governor and could not be made available to the petitioner.

Ogun gets 1,195 pilgrims slots as Amosun names Amir-ul-Hajj Kunle Olayeni Abeokuta

o fewer than 1,195 pilgrims from Ogun State are expected to participate in this year’s holy pilgrimage to Saudi Arabia, the chairman, Muslim Pilgrims Welfare Board, Dr Ishaq Yusuf, has said. Yusuf revealed this at the take-off of the inoculation and medical screening for the 2015 intending pilgrims held at the board’s secretariat in Abeokuta, the state capital. He said the OGMPWB, would spare no effort at ensuring safe and smooth hajj operations this year, adding that the first batch of the state pilgrims will depart for the holy land

on August 18. Yusuf stated that the number of pilgrims had been reduced by 20 percent in each country by the Saudi authorities, due to the ongoing construction and extension works in some holy sites of the annual pilgrimage. He explained that the National Hajj Commission of Nigeria (NAHCON), subsequently allocated slots to all the states of the federation from which Ogun received 1,195 seats. Yusuf noted that the medical screening would avail the board the opportunity to determine the health status of pilgrims and offer them necessary medical attention before their departure to Saudi Arabia.

Ajimobi bars journalists from Govt House Sola Adeyemo Ibadan

L-R: Agbaoye of Oshogbo-land, Bashorun Tunde Akanni; Communications Manager, Nigerian Breweries Plc, Mr. Patrick Olowookere; Olori Jelilat Oyetunji; President/Chairman of Council, Institute of Directors (IoD), Mr. Yemi Akeju; Otun Eesa of Oshogbo-land, Chief Moshood Aremu and Marketing Manager, Kasapreko, Mr. Peter Adegor, after a press conference on the endorsement of the forthcoming 2015 edition of UNESCO-listed Osun Oshogbo Festival by IoD in Lagos...yesterday. PHOTO: GODWIN IREKHE

routes in Akure meAPC, PDP bicker over motorcycle ban in Ondo tain tropolis, we are amazed at

Babatope Okeowo Akure

he opposition All Progressives Congress (APC) and the ruling People’s Democratic Party (PDP) in Ondo State yesterday bickered over the ban of commercial motorcyclists popularly known as Okada by the state government While the APC through its Publicity Secretary, Abayomi Adesanya, described the ban as “illegal

and draconic”, the PDP through its own Publicity Secretary, Banji Okunomo, disagreed, saying the action of the government was in the best interest of the people. The government had in the wake of the violent protest of the okada riders over number plate issue announced the ban on the operations of the commercial motorcyclists. However, Adesanya, in his statement decried the

ban placed on the motorcycle riders in the state, especially the state capital, by the government and described the action as illegal and draconian. But Okunomo described the statement of the APC, as lacking in substance which should be thrown into trash can. His words “our attention has been attracted to a petty statement by the APC in regard to the recent ban of Okada activities on cer-

the personal attacks that characterize the statement but however declare that it is seriously lacking in content and logic. “The reference that there was no enabling law by the House of Assembly before the selective ban was imposed betrays the shallow thinking of the Party because in the first instance there is no law that created Okada riding for commercial purposes in the first instance.”

Landlord serves PDP quit notice over unpaid rent Adesina Wahab Ado-Ekiti

he landlord to the building housing the Peoples Democratic Party (PDP) Secretariat in AdoEkiti, Chief Ropo Adesanya, has served a quit notice on the party over unpaid rent amounting to N1.5 million. Adesanya was a two-

time state chairman of the party during the first term of Governor Ayodele Fayose, in the state had defected to the All Progressives Congress (APC)about two months ago,. He wants the party to pay him the N1.5 million rent on the building, which he said has become difficult to recover from

the party. When contacted, the State Publicity Secretary, Jackson Adebayo, said the party was unaware of the development. Adebayo is of the Idowu Faleye faction of the PDP. However, another factional Chairman, Tunde Olatunde, said the situation degenerated to the level of disharmony be-

cause “Fayose refused to fund the party”. Olatunde said: “The truth of the matter is that our party has been given quit notice for not paying our rent. In fact, the secretariat has been disconnected from public power supply and we are suffering despite the fact that our party is in power in Ekiti.”

overnor Abiola Ajimobi of Oyo State, yesterday barred some journalists from having access to the Press Centre in the Governor’s office, at the Agodi Secretariat, Ibadan. Media organizations allowed into the centre include: the Oyo State Broadcasting Corporation (BCOS), Ministry of Information, NTA, Galaxy, Channels, TVC, FRCN, Amuludun, Splash, Nigerian Tribune and Odua News. The list also include a driver attached to one of the vehicles in the governor’s office. The development is

said to have followed an incident which took place about two weeks ago in Abuja when the governor reportedly ignored some journalists who asked him questions about his inability to pay workers in the state. Just some months ago, journalists were disallowed from parking their vehicles within the premises of the secretariat contrary to what obtained before. The journalists who at the Press Centre for coverage of events yesterday were shocked to see a list differentiating those allowed and those not allowed access entitled: ‘Accredited and Un accredited’ of the journalists pasted on the entrance of the center.

‘Internal wrangling inimical to APC’s victory in 2018’ Adesina Wahab Ado-Ekiti

n ex member of the House of Representatives in Ondo State, Hon. Bamidele Faparusi, has warned that the current intra-party squabbles and internal wrangling may rob the All Progressives Congress (APC) of victory in the 2018 governorship poll in Ekiti State. Faparusi, who represented Ekiti South Federal constituency two from 2011 to 2015, also said the Chief John Odigie-Oyegunled National Working Committee of the APC, did nothing wrong in setting the agenda on who should be elected as leaders of the eight National Assembly, in line with the doctrine of party supremacy.

He spoke in Ode-Ekiti, Gboyin Local Government Area of the state during a thanksgiving service to mark the successful completion of his term as a federal lawmaker. Faparusi, a leader of the Restoration Group in the Ekiti APC, said that he and other likeminded APC leaders were working hard to unify the party and bring all splinter groups under one umbrella to be able to defeat the Peoples Democratic Party (PDP) come 2018. He thanked his constituents and his party for giving him the opportunity to serve at that level, promising to work with all interested groups to relaunch the APC back to reckoning in the state ahead of future elections.

NEW TELEGRAPH WEDNESDAY,JULY 29, 2015

We’ll handle strike politically, Okorocha tells workers Steve Uzoechi OWERRI

overnor Rochas Okorocha of Imo State yesterday warned that his administration may be forced to handle the strike action embarked upon by the organized labour in the state politically if the workers fail to return to work. Okorocha who made the disclosure during an interactive session with newsmen, maintained that the strike action was politically motivated as there was no rationale or justification for the action, considering the agreement reached earlier in the month betwee labour and government.

He regretted that after his trip to the United States with President Muhammadu Buhari, that it was disheartening to welcome him back to the state with an industrial action which totally shut down the state. He said: “I still cannot fathom any reason for the strike. We reached an agreement and even before the month ended, workers reneged on the agreement. We have kept faith with the workers; for the last four years, we did not owe anybody until the economic situation in the country got this bad. It is worrisome that they could not show understanding over just one or two month’s indebtedness.” Continuing, Okorocha explained: “More

News 41

SOUTH-EAST

than 90 percent of the subvention that come to the state which is over N2 billion go to workers who are less than 50,000 in strength. Only Imo pays 100 percent CONMESS and CONHESS and our agreement was that the arrears would be defrayed based on the availability of the bailout funds. They defaulted and violated the terms of the agreement and I am convinced their action is politically motivated and if they do not

go back to work, we will handle it politically.” The governor averred that the unspoken grouse of the workers is government proposed plan to embark on the biometric verification of workers in the state. The governor however conceded that parastatals in the state were being owed upwards of 5 months arrears but explained that his concept of parastatals was such that parastatals should be self-sustaining.

Okorie chides Buhari over Jonathan mer President. He cited examples of projects that were either completed or close to completion before the ex-President ’s exit, noting that it was unfair and unjust for the Buhari’s administration to take credit of the achievements without acknowledging the role of the initiator and executor. He enumerated some of the Jonathan’s feats to include his lauding of Buhari’s recent visit to the United States of America despite the USA denying Nigeria arms sale, deployment of technology and personnel to fight the Boko Haram insurgents.

Uchenna Inya ABAKALIKI

member of the House of Representatives, Hon. Linus Okorie, has condemned President Mohammadu Buhari’s alleged non-acknowledgment of former President Goodluck Jonathan’s contributions and achievements in office. Okorie, who represents Ohaozara/Onicha/ Ivo federal constituency in Ebonyi state, expressed worry over the brickbats being thrown the immediate past administration and called on President Buhari, to acknowledge the contributions of for-

APGA lawmakers disown N3Obn Abia loan Igbeaku Orji Umuahia

he last may not have been heard of the N30 billion controversial loan which the Abia State House of Assembly purportedly approved for the state government as eleven lawmakers of the All Progressives Grand Alliance (APGA) have kicked against the loan, saying the process was not transparent. Addressing journalists on the development at the party Secretariat yesterday the lawmakers led by the minority leader, Sir Abraham Oba, said that they were opposing the granting of the loan the realization that the House leadership had been compromised to

give its approval to the loan. Oba stated that the House received the governor’s letter on July 21, requesting approval for the loan but that they requested that the governor’s appearance to explain the need for the loan, especially since he had not met members of the Assembly after its inauguration. According to Oba, the Speaker, Hon Martins Azubuike, who read the letter on the floor of the House, said the loan was to be obtained from commercial banks for infrastructural development, including dredging of the Aba River, saying “we questioned the economic importance of the project, but the real intent of the loan is shrouded in secrecy as we can see from the contradicting reports.”

Kalu’s petition: APGA senate candidate alleges massive rigging

he joint petitioner to former Governor of Abia State, Dr Orji Uzor Kalu, petition, challenging the victory of Hon Mao Ohuabunwa, in the Abia North senatorial election, Chief David Ogba Onuoha-Bourdex, the All Progressives Grand Alliance (APGA) candidate yesterday said that the results of the election were massively manipulated with the figures in the Ohafia local government, one of the five local government areas making up the district out-numbered the entire district votes . During cross examination yesteday, by the respondents counsel to Ohuabunwa and the Inde-

pendent National Electoral Commission (INEC) Donald De-Wigwe, Livy Uzoukwu respectively, Onuoha-Bourdex, said that even the resident electoral commissioner (REC) for the state was shocked at the manipulated results, prompting her to set up a committee to review the results, saying that the committee also discovered that he won the election. Onuoha-Bourdex was one of the witnesses who testified at the resumed hearing of the tribunal yesterday. He mounted the witness box after the returning officer for the election, Dr Ihekwoaba Chukwugoziem, who submitted documents to the tribunal on his role in the election.

Enugu State Governor, Hon. Ifeanyi Ugwuanyi (left), with the National President, Pentecostal Fellowship of Nigeria (PFN), Dr. Felix Omobudu, during a courtesy visit to the governor in Enugu…yesterday.

Gunmen abduct four Ebonyi varsity female students Uchenna Inya ABAKALIKI

our female students of the Ebonyi State University (EBSU) Abakalki, have been allegedly abducted by gunmen who invaded the Simeon Oduoye female hostel of the College of Agricultural Science campus of the University. Two of the security

agents manning the campus were also said to have been shot by the gunmen, forcing others to go into hiding for safety. Some of the students of the campus who preferred anonymity told New Telegraph that the attack occurred at about 1: am on Monday. “We were in deep sleep when we began to hear strange movement and noise only to discover that robbers have

Work to begin on three Enugu roads Charles Onyekwere ENUGU

econstruction and rehabilitation of two major Nike Roads in Enugu East Local Government Area of Enugu State, the two kilometer Nike Road and the 3.6 kilometer Nike Lake Road, have been scheduled to begin simultaneously in August. Speaker of the Enugu State House of Assembly, Hon. Edward

Ubosi, revealed this yesterday when members of Nike Federated Town Union led by their traditional ruler, Igwe Julius Nnaji, Odezuligbo III of Nike, paid him a courtesy call, stating that by the first week of August, work would commence on the roads. The two roads were among the eight capital projects that were added to the amended, revised 2015 appropriation approved by the House for the executive to execute.

invaded our hostel. They were entering rooms one after another attacking and dispossessing people of their belongings including phones and laptops”, one of the the students said. The Dean Students Affairs of EBSU, Professor Hillary Eze, confirmed the report but noted that the robbery operation was quelled through the prompt intervention of security agents.

He described as untrue the position that robbers shot some security men, saying the robbers only attacked the students and the security men with cutlasses. When contacted the state Police Public Relations Officer, PPRO, DSP Chris Anyanwu said he cannot confirm the authenticity or otherwise of the report since he was out of the state for official assignment.

PUBLIC NOTICE

THE S.E.T.T.L.E.D CLUB This is to inform the general public that the above named CLUB has applied to the Corporate Affairs Commission for incorporation under part “C” of the Companies and Allied Matters Act, 1990. THE TRUSTEES ARE: 1. MRS LOVE IZU- NNAKA 2. MR ANDREW NNAKA

- CHAIRMAN - MEMBER

THE AIMS AND OBJECTIVES ARE: 1 To monitor teen girls as to alleviate immorality in our society 2 For self employment, thereby making them productively efficient Any objection to the incorporation of the above ministry should be forwarded to the Registrar-General, Corporate Affairs Commission, 420, Tigris Crescent, Off Aguiyi Ironsi Street,P.M.B 198, Maitama, , Abuja, within 28 days of this publication. Signed: TRUSTEES

News

Mojeed Alabi

he Akwa Ibom State chapter of the Peoples Democratic Party (PDP) has accused officers and men of the Department of State Services (DSS) of harassing its members at the ongoing election petition tribunal, sitting in Abuja, the Federal Capital Territory, over the April 11 governorship election in the state. In a statement issued yesterday and signed by

WEDNESDAY,JULY 29, 2015 NEW TELEGRAPH

SOUTH-SOUTH

Akwa Ibom PDP alleges harassment by DSS the party’s Chairman in the state, Obong Paul Ekpo, the party accused the DSS of playing politics by working in connivance with the opposition All Progressives Congress (APC) to arrest its members. The statement reads in part; “We wish to use this opportunity to alert the nation and the international community about the undisguised display of

partisanship by the agents of the DSS at the electoral tribunal currently sitting in Abuja. Our members and agents have been hounded, harassed and threatened by the DSS officers.” The party also accused the security operatives of singling out the resident electoral officers in both Akwa Ibom and Rivers States for scrutiny and interrogation, saying the

development was part of the ploy by the APC to hijack the people’s mandate freely given the PDP at the polls. “We want to put it on record that what the opposition is doing in Akwa Ibom and Rivers States is against the spirit, ethos and values of democratic norms and traditions. Nigeria is not a one-party state and any attempt by the opposition to use the state security

to subvert the will of the good people of Akwa Ibom State as expressly given on March 28 and April 11 respectively, will be resisted. “We want the world to ask APC and its agents in the DSS, why Akwa Ibom and Rivers States are being singled out for scrutiny. What happened to those states in the north where it was clearly documented for the whole world to see that under-

aged kids were allowed to vote?” the party further asked. Meanwhile, Ekpo also accused the APC gubernatorial candidate in the election, Obong Umana Umana, of bringing trailer-loads of thugs to the venue of the tribunal and harassed the PDP members, describing it as a clear violation of the rules of engagement at the tribunal.

Anxiety as sacked NDDC directors visit commission’s headquarters Emmanuel Masha Port Harcourt

L-R: National President, Bible Society of Nigeria (BSN), Dr. Aaron Nuhu; Patron, General Yakubu Gowon and General Secretary, Rev. Dare Ajiboye, at the 48th national board meeting of the organisation in Warri, Delta State.

C’River to benefit from $500m World Bank fund Clement James Calabar

he Nigeria Erosion and Watershed Management Project (NEWMAP) yesterday said Cross River State is among fourteen states in the federation that have been earmarked to benefit from the World Bank’s $500 million funding to contain gully erosion in the country. NEWMAP’s National Project Coordinator, Mr. Salisu Dahiru, who spoke at the beginning of a five-day workshop for Non-Governmental Organisations (NGOs) and communication officers in Calabar yesterday, also confirmed that 21 badly affected gully erosion sites have been identified in the country and that they are currently being

addressed with Cross River alone having five, the highest. He said $500 million had been earmarked to tackle the 21 gully erosion sites out of which $480 million has been devoted for remediation of the gully sites. The workshop, which is being organised by the Federal Ministry of Environment in conjunction with the World Bank, among other partners, is being implemented by the Nigeria Erosion and Watershed Management Project. Dahiru said at the initial stage, NEWMAP had targeted to work with seven states, but the Federal Government recently approved seven others, where gully erosion had also reached an alarming stage.

‘Akwa Ibom owes 15 months’ salaries’ Tony Anichebe Uyo

he Chairman, NonAcademic Staff Union (NASU), Akwa Ibom State University, Ikot Akpaden at Mkpat Enin, Comrade Idongesit John, yesterday said that the Akwa Ibom State government is owing members of staff of the institution 15 months’ salaries. John stated this while speaking with newsmen at Mkpat Enin. He expressed disappointment that the state government is owing 279 members of staff that were employed between 2013 and 2014 before the NUC accreditation process. He said: “It is not an allegation, but the truth that some members of staff are being owed 15 months’ sal-

aries; some of them were recruited between 2013 and 2014. “Some helped in the accreditation process of the university. The university and the government used some of them to achieve accreditation for the university,” he alleged. The NASU chairman further said that they have not received their June salaries. “Some of us that had been in the system for a long time, we have not received June salaries, if the state government is saying that they are not owing, that is not true,” John said. He said the development had caused hardship for their families. John appealed to Governor Udom Emmanuel to come to their aid while also calling on the government to capture the affected staff in the next budget.

Don’t drag Buhari into Balyesa guber race, says PDP chieftain Chris Ejim Yenagoa

he pioneer Chairman of the Peoples Democratic Party (PDP) in Bayelsa State, Charles Dorgu, yesterday asked the members of the opposition All Progressives Congress (APC) in the state, not to drag President Muhammad Buhari into the state’s

gubernatorial race. Dorgu has accused the APC in the state of trying to drag the President into what he described as the party’s plot to rig the forth coming governorship election at all cost, saying Buhari is too busy and decent to manipulate elections. The pioneer PDP chairman said though President Buhari and the National Working Committee

(NWC) of the APC have the political right to come to Bayelsa State and assist in the campaigns ahead of the election, the clamour by the APC for the use of federal might against the PDP with the deployment of federal troops to the state, will only promote anarchy and confusion. Dorgu, who spoke yesterday in Yenagoa, said the Federal Government and

President Buhari should not have any business in the change of political structure in the state saying; “that will be anarchy. The Federal Government has no business in destabilising the state. “If they are interested in the governorship election, they should liaise with those giving them false claims and engage in political campaigns.”

he surprise visit of two sacked executive members of the Niger Delta Development Commission (NDDC) last Monday caused anxiety at the commission’s headquarters along Aba Road, Port Harcourt. Some members of staff of the organisation abandoned their jobs and prevented the two executive directors from accessing any documents in their offices, three days after they had been served their sack letters. The staff, according to a source in the commission, felt that the visitors still wielded the powers to award contracts to a certain amount by virtue of their office and concluded that their presence could not be in the overall interest of the commission and the people of the Niger Delta. One of the executive directors was said to have gone to the Projects Department, where an As-

sistant Director refused to release some files and contract documents to him. The concerned staff also rushed to the generator house and put off the generating sets in order to prevent the executive directors from accessing the commission’s computers and data base. The agitated staff, according to a source also put the security men on the alert and instructed them not to allow anybody, no matter how highly placed, to leave the premises with any official document belonging to the commission. “The former executive directors might have come with the intention of tampering with some official documents as well as awarding and backdating contracts. There was also the fear that they came with the intention of laying hands on sensitive documents,” the source said. The source noted that the NDDC Managing Director, Bassey Dan-Abia, who is the only member of the former board that is not affected by the dissolution of the board, was not within the premises when the two directors arrived.

Rivers’ students get N512m lifeline Emmanuel Masha Port Harcourt

tranded Rivers State students, who are on the state government’s scholarship abroad, yesterday received a lifeline from Governor Nyesom Wike, who released N512 million for the completion of their various programmes. The students, who secured the scholarship programme through the Rivers State Sustainable Development Agency (RSSDA), had protested in the past over the stoppage of funds. One of the students, studying at the University of Oxford, had, in a letter, noted that “It is a shame that we have had to, in the past, forced our families back home to send us feeding money, and the pains

they go through in sending such money is unbearable.” The governor had earlier released N200 million as part of the money owed the students, bringing the total paid by the Wike administration to N712 million. The latest payment would enable the students pay their debts and sit for their final exams. Early this month, the last set of beneficiaries of the scholarship programme, staged a protest at the Government House, Port Harcourt, over their abandonment by the state government, lamenting that they had been waiting to pursue their studies since 2013, when they were picked by the Rivers State Sustainable Development Agency (RSSDA).

NEW TELEGRAPH wednesday, july 29, 2015

News 43

NORTH

Plateau focuses on project completion Musa Pam Jos

he Plateau State government has reiterated its focus on the completion of projects in this year's budget, saying the idea is to consolidate on the achievements made in the last year's budget. The 2015 budget is with particular focus on peace and security, human capital development, agriculture, entrepreneurship and industrialisation, physical infrastructure and environment. Disclosing this yesterday during the 2015 budget breakdown, the Perma-

nent Secretary, Ministry of Finance, Mrs. Rauta Dakok, said prominence will also be given to water and rural development, works and transport, education, information and communication and health, among others. According to her, “Following the signing of the 2015 appropriation bill into law by Governor Simon Lalong, I am here to present the details of the

policies and programmes contained in the budget.” The budget, christened; ‘Budget of Continuity and Inclusive Growth V,’ is to further consolidate on the achievements made in the 2014 budget and is geared towards implementing the five-point agenda of the present administration. “The budget has a size of N215, 457, 618, 204. 72

only, 55.61 percent of the amount will be for capital expenditure while 44.39 percent will be for recurrent expenditure. The administrative sector will get 15.72 percent of the budget, the economic sector, 53.17 percent, law and justice will get 0.64 percent while the social sector will get 30 percent.” She further explained; “The present administration is committed to the

provision of qualitative and functional education to its citizens hence, 13.9 percent of the capital is estimated for the completion of ongoing renovation and provision of infrastructures.” The permanent secretary also noted that the pursuit of peace, security and the welfare of workers will not be overlooked in the implementation of the budget.

Kwara Assembly approves 10 advisers Biodun Oyeleye Ilorin

awmakers in Kwara State yesterday approved a request by Governor AbdulFatah Ahmed to appoint 10 Special Advisers into his cabinet. The approval came on a day the state government issued a statement denying claims that Senate President, Dr. Bukola Saraki and the crisis at the National Assembly were responsible for the delay in constituting the state’s executive council. According to the statement by Dr. Muyideen Akorede, the Senior Special Assistant on Media and Communication to the Governor, the claims were false, unfounded and insensitive. The Assembly’s approval followed a request by the governor in his message read on the floor of the House during last Tuesday’s plenary. In the letter, which was ready by the Deputy Speaker, Hon. Matthew Okedare, who presided over Tuesday’s plenary; Governor Ahmed said the appointment had become imperative to allow government activities move at a faster rate. The request was granted by the lawmakers after the Deputy Speaker put a question to that effect. He thereafter directed the Clerk of the House, Mr. Oyetunde Oyeniyi, to communicate the approval of the appointment of 10 Special Advisers to the governor. In the statement, Akorede said Ahmed addressed the issue of the late appointment of his cabinet during last week’s interactive programme.

Bauchi State Governor, Muhammed Abubakar (left), with Galadiman Katagum, Alhaji Usman Mahmud, during a Sallah homage by the Katagum Emirate Council to the governor in Bauchi.

Cleric charges Buhari on anti-corruption war Biodun Oyeleye Ilorin

he Diocesan Bishop of Omu Aran (Anglican Communion), Omu Aran, the Rt. Rev. Philip Adeyemi, has asked President Muhammadu Buhari, to follow due process and the rule of law in the process of fighting corruption in the country, adding that he should discourage witch-hunting. Adeyemi, who made the call at the trinity ordination of the Cathedral Church of St. Paul, Omu Aran, said this has become imperative because many know the President as a man of integrity and

commended his anti-graft steps and activities so far. The cleric also commended the Kwara State government for its infrastructural development efforts in Ilorin metropolis, which he said has resulted in motorable roads in most parts of the state capital, but that said such gesture should be extended to the rural areas to enhance food production and transportation. He said there was need for the upgrading of rural infrastructure, particularly in agrarian communities of the state and asked the government to create more employment opportunities for the teeming unemployed youths of the state.

JALINGO

he Taraba State Executive Director of Chagro-Care Trust (CCT) and Executive Board Member (Africa), World Hepatitis Alliance, Mr. Danjuma K. Adda, yesterday said a recent research conducted by his organisation, showed that prevalence

of viral hepatitis diseases in Taraba State is now 41 percent for Hepatitis C, while Hepatitis B prevalence rate is between 13 and 14 percent. Adda made this disclosure yesterday in Jalingo at an event to commemorate this year's World Hepatitis Day in the state. He lamented that the Taraba State prevalence of the viral diseases is high

Abubakari Abdul Birnin Kebbi

he Kebbi State Chief Judge (CJ), Justice Ibrahim Maigriga, yesterday visited the state’s oldest prison and freed 21 inmates who were with minor cases. Addressing newsmen shortly after the exercise, the chief judge said with the power conferred on him under section 1 (1) of the criminal justice system, he had released the inmates custody. He added that out of the 21 inmates released, 13 were on bail while the remaining eight were set free. He urged them to be good ambassadors of their various societies. The CJ further added that the exercise would go a long way to decongest the prison, saying that he would extend the same gesture to the other prisons across the three senatorial districts of the state. He commended the officers and men in charge of the prisons for the state of the facility and for ensuring that the inmates are feeding well and in good shape.

NEMA: 371 victims get relief materials in Niger Dan Atori MINNA

o fewer than 371 persons in Niger State yesterday received relief materials worth millions of naira from the National Emergency Management Agency (NEMA). The victims, according to NEMA are drawn from seven council areas of the state that include Suleja, Paikoro, Katcha, Borgu Gurara, Bosso and Chanchaga. NEMA Coordinator in the state, Mr. Slaku Lugard, who disclosed this

in Suleja, said the gesture is to reach out to victims affected by rainstorm, fire and flood disasters that occurred sometimes in June, 2015. He said the relief materials donated include rice, maize, millets, guinea corn, sugar, vegetable oil, palm oil, packets of soya plus, cartons of noodles, cartons of spaghetti. Others are cartons of milk, milo, detergent, soap, blankets, mosquito nets, mats, plastic buckets, wax prints, guinea brocade, roofing sheets, ceiling board and zinc nails, among others.

Taraba’s hepatitis prevalence rate alarming, says NGO Sabiu Mustapha

Kebbi CJ releases 21 inmates

and alarming, when compared with the national prevalence of 11 percent. He said hepatitis is a curable and preventable disease and yet it claims millions of lives due to government's low attention to the disease. He added that every day, four thousand people die across the world as a result of the diseases. In her presentation,

Dr. Aisha Shehu Adamu, a gastroenterologist, said the disease causes inflammation of the liver with tissue damage affecting the normal functioning of the organ. She added that hepatitis diseases are a global problem, adding that researches have shown that eight percent of the world's populations are carriers of the diseases.

Lugard said the gesture is to extend a hand of fellowship to the affected people to enable them start up a livelihood. According to him, “We received a report from the Agency’s Desk Officer, informing us of the incidents in those council areas. We did an assessment on the seven affected local governments and persons. We wrote the head office and relief materials were approved and today, we are distributing them to victims in accordingly. “We are doing the distribution ourselves to ensure that the items get to the actual victims, because in NEMA, especially in Niger, we don't allow political interference.” Lugard added that the agency would collaborate with the state’s Emergency Management Agency (NSEMA) and the affected local government to sensitise the people on disaster management. He added that NEMA has what is called disaster risk management volunteers that are trained in each council area on how to tackle and manage disasters on their own.

44 News

WORLD | News

FCC urges adherence to federal character principles

Gaddafi’s son sentenced to death for war crimes

Johnchuks Onuanyim ABUJA

n the raging controversies of violation of Federal Character principles by All Progressives Congress led government, the Federal Character Commission has charged the Presidency and the National Assembly to apply the principles of federal character in its appointments.   The Commission’s Acting Executive Chairman, Alhaji Muhammadu Bello Alkali gave the charge yesterday at a press briefing. According to the Acting Chairman, the mandate of the Com-

mission covers all appointive positions and excludes the elective.  The Executive Chairman, who briefed the journalists at the Headquarters of the Commission, also read a riot act against government organisations that collect money from applicants in whatever guise before employment were given.   The Chairman stated that it is a new dawn at the Commission, therefore Chief Executives of MDAs would be prosecuted for the violations of the Federal Character principles.  He said: “The Commission has observed with dismay that some recruiting MDAs have been charging applicants what

they call ‘Application Fee’, ranging from Two Thousand Naira to Three Thousand Naira in the online application. This practice is illegal as it runs contrary to Federal Character Commission’s guideline in recruitment into the Nigeria Public Services as well as Presidential directive on recruitment which completely stopped buying of scratch cards.  “The Commission will henceforth, without further notice sanction any Chief Executive of MDA that flouts this guideline. Applicants are also notified hereby that they are not supposed to pay any application fee for job whether online or hardcopy”.

court in Libya has sentenced Saif al-Islam Gaddafi, son of deposed leader Col Muammar Gaddafi, and eight others to death over war crimes linked to the 2011 revolution. More than 30 close associates of Col Gaddafi were tried for suppressing peaceful protests during the uprising. Saif al-Islam was not in court, but has previously appeared via video link. He is being held by a former rebel group from the town of Zintan that refuses to hand him over.

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

A Zintani source indicated to the BBC that they would not execute him or hand him over to the court. Former head of intelligence for the Gaddafi regime, Abdullah alSenussi, is among those also facing death by firing squad, as is former PM Baghdadi al-Mahmoudi. They have the right to appeal against their sentences within 60 days. In the years before the uprising, Saif al-Islam was known for trying to introduce political and economic reforms, says the BBC’s North African correspondent Rana

Jawad. “But as people called for the fall of his father’s rule - he stood by him till the bitter end,” she added. He is also wanted by the International Criminal Court on charges of war crimes and crimes against humanity. Prosecutors say that he was part of his father’s plans to “quell, by all means, the civilian demonstrations against the Gaddafi regime”. Eight other ex-officials received life sentences and seven were given jail terms of 12 years each, said chief investigator Sadiq al-Sur. Four were acquitted.

Tribunal: Amosun opposes Isiaka’s application to inspect electoral materials Kunle Olayeni ABEOKUTA

gun State Governor, Senator Ibikunle Amosun, and his party, All Progressives Congress (APC), yesterday opposed an application filed by the Peoples Democratic Party (PDP) governorship candidate, Prince Gboyega Isiaka, seeking the inspection of the electoral materials used in the April 11 governorship election in the state.  At yesterday’s resumed hearing of the

state governorship Election Petitions Tribunal, counsel to the PDP standard bearer, Adetunji Oyeyipo (SAN) said he was in court to move his application dated July 10 seeking to inspect all materials used by the Independent National Electoral Commission (INEC) for the poll.   Oyeyipo told the tribunal that counsel to Amosun and APC, Dr Olumide Ayeni and George Oyeniyi, informed him of two preliminary objections challenging the competence of the application.  It will be recalled

that at the last adjourned date, the petitioner’s counsel informed the court that the application was meant to inspect the election materials to further evidence the substantial application before the tribunal. Moving the preliminary objections which were brought pursuant to paragraph 53 (3) of the First Schedule to Electoral Act 2010 (as amended), Ayeni said the PDP candidate failed to seek for leave of the court for the application to be heard outside the pre-hearing session.

Stop insulting Buhari, Omobude tells Nigerians Charles Onyekwere ENUGU

he President of the Pentecostal Fellowship of Nigeria (PFN), Dr. Felix Omobude, yesterday called on Nigerians to show deep respect and regard for President Muhammadu Buhari. Omobude, who spoke to journalists shortly after his arrival for the 5th Biennial Conference of the PFN, Enugu State Chapter, at the Grace of God Mission, Enugu, said

it was wrong for some Nigerians to be referring to the President as ‘Baba Go Slow’.  He said rather than launch verbal attacks and haul insults on the President, Nigerians owed it as a duty to support and pray for him.  He said the stand of the PFN on the political situation in the country remains that, “Nigerians have voted and we have a President; we have a government in place; the position of PFN is purely scriptural

- that we should support the present government and pray and then that we might enjoy peace and progress in the nation; that’s the position of PFN.  “I will appeal to Nigerians to be patient with him. I think he is taking his time and so far we should just wait and see; he is a man of his words”.  While expressing concern on the renewed onslaught by the Boko Haram insurgents, Omubude called for united action by all Nigerians against the group.

N2.7m for journalists as 7th Golden Pen Award opens entry Mojeed Alabi

he Nigerian Breweries Plc has announced the opening of entries for the 2015 edition of its Golden Pen Award, declaring the sum of N2.75 million in total prize for the seven categories.

This was disclosed yesterday at a media briefing held at the company’s office in Lagos. Addressing the media, the company’s Corporate Affairs Adviser, Mr. Kufre Ekanem, revealed that the theme of education, youth empowerment and talent development, will also

be adopted this year as was done during the last edition. According Ekanem, submission of entries, which opened shortly after the briefing yesterday, will close on Friday, September 21, and the main award ceremony is scheduled to hold on Friday, October 30.

Former Gaddafi regime’s officials sit behind bars during a verdict hearing at a courtroom in Tripoli Libya yesterday.

Obama warns African leaders against sit-tight syndrome

arack Obama yesterday, condemned African leaders who refuse to give up power and urged the continent to end “the cancer of corruption”, in the first ever address to the African Union by a US president. But Obama said the rest of the world also needed to change its approach to Africa by boosting fair trade and not just providing aid handouts, and vowed that the United States stood with the region to defeat terrorism and end conflict. The speech marked

the end of a short tour that has seen Obama visit Kenya, his father’s birthplace, and Ethiopia, from where he flew out on Air Force One after the speech. Both are key security allies in the fight against Somalia’s Al-Qaeda-affiliated Shebab militants, but they were also challenged on concerns over democracy, human rights and graft. “Africa’s democratic progress is also at risk when leaders refuse to step aside when their terms end,” Obama said, drawing huge applause

and cheers from some sections of the audience in the AU’s Nelson Mandela hall. “No one should be president for life,” he said, explaining that he was personally relishing handing over office in 18 months. “Now let me be honest with you: I do not understand this. I am in my second term I love my work, but under our constitution, I cannot run again. I actually think I’m a pretty good president, I think if I ran again I could win, but I can’t,” he said.

Britain’s Lord Sewel resigns after scandal

British peer who was in charge of lawmakers’ ethics quit the House of Lords yesterday after allegedly snorting cocaine off a prostitute’s breasts, fuelling calls for reform of the unelected upper chamber. Lord John Sewel, 69, apologised for the “pain and embarrassment” caused after the Rupert Murdoch-

owned Sun newspaper published footage of him apparently taking drugs and wearing an orange bra and studded leather jacket as he chatted to two sex workers. The images also showed him calling Prime Minister David Cameron “facile” and “superficial” and insulting several other senior politicians. Scotland Yard has

launched an investigation and raided Sewel’s home at an exclusive block of flats near the Houses of Parliament Monday night. While reforming the House of Lords is not a priority for Cameron’s centre-right government, the case has sparked calls for the chamber -- the world’s largest legislative assembly outside China -to be slimmed down.

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

International Sport

League Rendezvous

Sport News

Wenger dismisses Mourinho’s transfer claims

Kwara United ambush Warri Wolves in Ilorin

NFF chieftains in crucial meeting over Keshi’s suit

Sport Charles Ogundiya

wo-goal hero in the 2-1 win of Nigeria over Congo in the Olympic Games qualifier in Port Harcourt, Junior Ajayi, has said the team will be going to Pointe Noire for a victory. Speaking with New Telegraph, the Shooting Stars of Ibadan striker said the team would finish the job in the return leg scheduled for August 2. He acknowledged that the return leg would be a tough task for both sides but expressed optimism about the chances of Nigeria to excel in the encounter. “I want Nigerians to know that it is not over yet until we get the expected result in Congo,” Ajayi said. “Our performance penultimate Sunday was due to the encouragement of the coaches and the hard work of the entire team, we really worked hard before the game. We won the match but it’s not over yet. “We are aware of the importance of the second leg and we are not going to settle for a draw, it is a must-win for us in Pointe Noire. “With hard work and technical knowhow of our coaches, I believe we are going to conquer the Congolese in their home soil and return home with the qualification ticket.” Ajayi, a former 36 Lions striker, missed some clear-cut chances in the first half of the first leg before scoring the two

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi

Did you know? That a modern table tennis table is 9 feet long, 5 feet wide, and 2.5 feet high. The net is 6 inches high.

We’ll whip Congo in Pointe Noire – Ajayi goals in the second half. On his missed chances, Ajayi said: “No player will be happy to miss clear-cut chances, but the most important thing is the victory. “It was just my anxiety to get the goals, but during the

half time, the coach advised us to calm down and I was happy we got the goals. “It was a collective effort from the team and not just a player getting the goals and I am looking forward to getting more away from home.”

The coach Samson Siasia led team’s away form has been impressive: they won two of their away matches in the All Africa Games qualifying series 4-1 against Gabon in Libreville and stopped Zambia with two unreplied goals in Lusaka.

Platini

Platini to announce FIFA presidency bid

EFA president Michel Platini will announce later this week he wants to be the next president of FIFA. The BBC has learned that Platini - after receiving indications of support from four continental confederations - will be a candidate when polling takes place on February 26. The 60-year-old former France and Juventus midfielder could declare as early as Wednesday (today). Switzerland’s Sepp Blatter, 79, has been in charge of FIFA since 1998. He is standing down as a result of a corruption crisis at world football’s governing body. Platini is the overwhelming favourite to replace him. If every football association within those confederations voted for Platini, he would secure 144 votes, which is more than enough for him to be elected as Blatter’s successor. That is unlikely to happen, however, given some football associations will back rival candidates or abstain. Nevertheless, Platini is still expected to poll a significant number of votes.

Junior Ayayi (left) dribbling past a Zambian player during the qualifiers.

Oshonaike: Super Cup experience good for AAG Adekunle Salami

Assistant Sport Editor

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Oshonaike

ational player, Funke Oshonaike, said the memories of the just concluded International Table Tennis Federation’s African Super Cup were not a pleasant one for her, but that the experience would be useful during the All Africa Games. The Germany-based ping ponger noted that some logistical issues hindered her general stay for one week, in Cameroon, venue of the competition.

Oshonaike won three matches out of the four played in the competition. She eventually settled for the bronze medal of the African Top 16 event. She said: “It was not easy at all. I got to Cameroon without my luggage which did not arrive until three days after. I did not train for two days and had to make alternate arrangement on the third day. “In the first match, I struggled and was simply lucky to have won. I was unsettled and angry all through the competi-

tion. The event proper went well and I learnt a lot generally.” The table tennis player promised to use the experience gained in Cameroon to push for medals at the forthcoming All Africa Games in Congo Brazzaville. “Nobody is too big to learn. I gained so much in Cameroon and I am going to put the knowledge into use at the All Africa Games. We learn everyday and it is crucial to gain from various errors observed in Cameroon,” Oshonaike added.

International Sport

WEDNESDAY, JULY 29, 2015 NEW TELEGRAPH

Wenger dismisses Mourinho’s transfer claims

rsene Wenger has brushed off Jose Mourinho’s jibes about Arsenal’s spending in recent seasons. Ahead of Sunday’s Community Shield clash with Arsenal, Mourinho suggested the Gunners are more than ready to challenge for the title after spending almost £150million

since the summer of 2013. “If you add up the amounts clubs have spent in the last three or four years I think maybe you will find a surprise,” Mourinho, who allowed goalkeeper Petr Cech to join Arsenal in an £11million deal last month, said in the Guardian. “If you put (Mesut) Ozil plus Alexis Sanchez, plus (Calum)

Chambers, plus (Mathieu) Debuchy, you will find a surprise. It’s a fantastic squad with good players, fantastic goalkeeper, they are more than ready to be title contenders. While Arsenal have invested heavily in their squad, Chelsea have splashed out over £200million since 2013 and Wenger insists the Gunners will only dip

into the transfer market when they have money to spend. “We spend when we think we have to spend and do not listen too much to what people think or say,” said Wenger. “We just try to make the right decisions. When we have the money available, we spend it. When we don’t have the money, we don’t spend the money we haven’t got.”

Cavani hit with two-match ban

ruguay striker Edinson Cavani has been hit with a two-match ban for his sending off against Chile in the Copa America, while head coach Oscar Tabarez has been suspended for three games. Cavani was sent off for raising a hand to Gonzalo Jara during a heated quarter-final tie last month, after the Chile defender poked the Paris Saint-Germain star in the backside. Tabarez, meanwhile, was sent to the stands after disputing a red card for defender Jorge Fucile in the same fixture, which Uruguay lost 1-0. The Uruguayan Football Association has now confirmed Cavani will miss qualifiers for the 2018 World Cup against Bolivia and Colombia in October, while The South American Football Confederation has handed out a three-

match ban to Tabarez for his indiscretion. It marks a further blow for Uruguay, who remain without Luis Suarez as he continues to serve a competitive international ban for biting Italy’s Giorgio Chiellini at the World Cup last year.

Zlatan Ibrahimovic in action for PSG against Toulouse last season

Baba Ganaru

errari has signalled it will not make a decision on Kimi Raikkonen’s future with team boss Maurizio Arrivabene adamant his mind will not be on F1 during the summer break. According to paddock gossipers, the ‘option clause’ in Raikkonen’s contract enabling Ferrari to extend his stay with the team for a third season will expire on July 31. But with Raikkonen having previously indicated that Ferrari will be his final team in F1, the Scuderia is determined to use the summer break as just that. “Our goal now is to focus on the car, the driver issue can wait,” said Arrivabene. “In the summer break, you take a summer break. You go swimming, climbing, mountain biking – otherwise it is not a break, it is work!”

Rabiot plays down clash with Ibrahimovic

A Cavani

Baba Ganaru returns to Kano Pillars s reported some months ago by League Rendezvous, the Nigeria Professional Football League defending champions, Kano Pillars, have re-appointed former coach, Baba Ganaru, to replace sacked Okey Emordi. Ganaru won back-to-back league titles for the Sai Masu Gida but he was allowed to go after failing twice in his quest to make an appreciable impact on the continent, paving the way for former Enyimba coach Emordi to be employed. Emordi was fired after an indifferent first half of the season as the club struggled for form and consistency. It was reliably learnt that, Baba Ganaru would be resuming officially for work on Wednesday (today). “It remains for the club and the coach to sign the dotted lines of the contract,” our source said. “It was a joint decision by everyone concerned to bring the coach back because of his knowledge of the team.” Ganaru left Pillars in 2013 for Nasarawa United after he won two successive league titles.

Ferrari to delay decision on Raikkonen

drien Rabiot has played down an on-field confrontation involving Paris Saint-Germain teammate Zlatan Ibrahimovic. The pair clashed during Sunday’s pre-season friendly against Chelsea after Ibrahimovic, who had put PSG ahead in the first half, gave the ball away.

Nigerian League Rendezvous

Rabiot reacted, which prompted an exchange of words between the pair but the 20-year-old midfielder has since insisted all is fine with the Sweden striker. Rabiot told psg.fr: “With Ibra, we got a little bit heated on the field but we spoke about it in the dressing room. We put everything back in order, WITH CHARLES OGUNDIYA

charlesog2001@yahoo.com,

08098042287

Kwara Utd ambush Wolves in Ilorin

wara United will be putting their Federation Cup exit behind them as they battle Warri Wolves in a Nigeria Professional Football League rescheduled match on Wednesday (today) in Ilorin. The game was rescheduled due to Warri Wolves’ continental assignment at the beginning of the season. In another rescheduled game played in Warri at the weekend, the Seasiders as Warri Wolves are popularly known thrashed El-Kanemi Warriors 5-0 and would be taking such form to Ilorin. On the other hand, the Harmony Boys are enjoying a new lease of life under new coach, Tunde Sanni, winning their last two games before the league went on break. Kwara United defeated IfeanyiUbah FC 1-0 away from home before ending the first half of the season with a 4-1 home victory against Giwa FC. Speaking with League Rendezvous, the Media Officer of the team, Yinka Owolewa, said the team would be approaching the game with all seriousness

Dimgba (Wolves) and Otobong Effiong (Akwa United)

so as to improve their standing on the league table. “The boys are in top shape and are ready for whatever Warri Wolves will throw at them,” Owolewa said. On his part, coach of Warri Wolves, Paul Aigbogun, said confidence was high in the team after the victory against El-Kanemi

and that the target would be another three points to reduce the gap between the team and the clubs at the top of the league table. Meanwhile, former ABS FC of Ilorin midfielder, Ichull Lordson, has said he will not jubilate if he scores for Warri Wolves against Kwara United.

there were no worries. These things happen on the field. We laughed about it.” Ibrahimovic, who has a black belt in Taekwondo, also appeared to elbow John Terry during the match, which Chelsea eventually won on penalties after Victor Moses’ second-half goal earned a 1-1 draw in normal time.

Clubs begin training ahead of league resumption

lubs campaigning in the Nigeria Professional Football League have resumed training ahead of league resumption scheduled for August 2 after a two-week break. Some of the clubs monitored by League Rendezvous resumed on Monday while some others will be resuming on Wednesday (today). Some clubs did not observe any break because of Federation’s Cup assignment. “We resumed training on Monday,” Kano Pillars’ Media Officer, Idris Malikawa, said when contacted. “We have all the players in camp ahead of the second half. We have been training and the players are excited ahead of the league resumption.” Abia Warriors Media Officer, Igwe Onuoha, said the players resumed on Monday with training already in full swing. Onuoha said: “All the players arrived on Monday and full training started on Tuesday because we want to hit the ground running in the second period. “We missed continental slot by mere three points last season so we are working hard to secure a continental ticket at the end of the season.” Akwa United, Kwara United and Warri Wolves players failed to observe the two-week break because of Federation’s Cup engagement and rescheduled league matches.

Sport News 47

NEW TELEGRAPH WEDNESDAY, JULY 29, 2015

NFF chieftains in crucial meeting over Keshi’s suit Charles Ogundiya

n official of the Nigeria Football Federation has revealed to New Telegraph that the Technical Committee of the federation will be meeting to discuss the suit instituted against the football body by former Super Eagles coach, Stephen Keshi. According to the source, the NFF is yet to receive an official summon from the court but the federation is already preparing its defence. The official further stated that the NFF’s lawyer initiated the meeting in order to get details of the clause that was used in terminating the former international’s contract and to be certain that due process was followed. “The Technical Committee will be meeting later this week because our lawyer has been asking for all the necessary documents to defend the federation,” the source said. “Although we are yet to receive the official court summon, the lawyer wants to be ready with all the evidence to prove that we did not break any

Aaron Samuel (middle) in action for Nigeria

FG releases N2.9bn for AAG, Olympics

l-Hassan Yakmut, Director-General, National Sports Commission (NSC) on Tuesday said the Federal Government has released N2.9 billion for preparation for the All Africa Games. Yakmut said this in Abuja at a meeting with presidents and secretaries of sports federations in the country. The director general said the meeting was to map out detailed plans for the All Africa Games slated for Sept.4 to 19 in the Congolese capital of Brazzaville. He said the forum would decide Nigeria’s technical and administrative participation in the All Africa’s games (AAG) and create a `technical connect’ for Nigeria’s participation in the 2016 Olympics. According to him, the NSC got the approval of Mr President for the Ministry of Finance to provide about N2.97 bil-

lion to take us to the All Africa Games and to prepare for the Olympics. “We made a budget of N6.5 billion as the request for our participation but later sat down as technocrats to review the budget and presented a modest proposal of N2.97 billion. “With this approval that came more than 45 days before the games and the commission was proactive in starting camps for the games 63 days before the approval. ``This was to ensure that all the segments for the games were involved in the medical assessment, fitness assessment, technical and tactical preparation and that they were all put together as we intensify preparation to ensure monitoring,’’ he said. Yakmut said that Nigeria’s participation was necessary since we needed to showcase developments in sports over the years. ``Our participation in the 2015 All Africa Game

U-23 Eagles storm Congo Thursday in regular flight Adeolu Johnson ABUJA Yakmut

is of significant importance because all countries that would be going for the games would be there to showcase empirical development in sport in their respective countries,’’ he said. Also speaking, Habu Gumel, President Nigeria Olympic Committee, urged athletes and coaches to stay away from drugs. ``We can win the entire medal but we must do that with our God given strength. Drug cannot make us to win medal, it will only bring us shame,’’ Gumel said.

ash-strapped Nigeria Football Federation has cancelled plan for a chartered flight to ferry the country’s team to a crucial CAF U-23 Championship qualifier in Congo this weekend. Nigeria won the first leg in Port Harcourt 2-1 and face a daunting task in the return leg in Pointe Noire on Sunday. Alternatively, the NFF has started making arrangement for both U-23 and Falcons to join regular flights on Thursday to Congo and Malabo, Equitorial Guinea. The decision to purchase tickets became

NFF seeks closer ties with German football

n its relentless quest to take Nigeria football to a new level, the Nigeria Football Federation has moved to formalise closer relationship with current world champions, Germany in all football matters. At a lunch –time meeting with the Ambassador of Germany to Nigeria, Mr. Dietmar Kreusel on Tuesday, top officials of the NFF led by the President, Mr. Amaju Pinnick, were on the same page as they praised the giant strides that Germany has made in world football. “Germany is not only the reigning champions of

the world in football; it is also a very strong economic power. We have come here to express our intention to make Germany our model for development of the game of football. “We keenly desire to partner with the DFB (Germany Football Federation) and the German League. We are requesting support for our development programme for women’s football, as well as capacity building for our referees and coaches.” Ambassador Kreusel, who confirmed that he was a big supporter of German Bundesliga

rule in terminating Keshi’s appointment. Keshi last week dragged the NFF to court for ‘wrongful dismissal and defamation’ demanding N1bn (one billion naira) compensation. He was sacked on July 5 after the NFF’s Disciplinary Committee investigated various allegations against him. This was four months after the 53-year-old coach signed a new two-year contract following the expiration of the initial threeyear deal with the NFF after last year’s World Cup in Brazil. Speaking with New Telegraph, the chairman of the NFF’s Technical Committee and Development Committee, Felix Anyansi-Agwu, said the federation followed due process in terminating Keshi’s contract. The Enyimba of Aba chairman said: “We didn’t break any law in asking the coach to go. We followed due process, carried out our investigations and also gave the coach a chance to defend himself. “Keshi breached some of the clauses in his contract and we had no choice but to terminate his appointment.”

Pinnick (right) and Kreusel exchanging greetings

club, Mainz 05 (the club of Super Eagles’ defender Leon Balogun) said, “Nigeria and Germany have always maintained very close relations. I recall

that one of President Muhammadu Buhari’s first visits outside Nigeria after inauguration was to Germany. That shows how close our ties are.”

necessary after efforts to get funds from the National Sports Commission were futile. The U-23 team is expected back from Port Harcourt on Wednesday enroute to Abuja where it connects a flight to Congo. Both teams will have their training sessions in Abuja before jetting out on Thursday with members of the Techhnical Committee and the Technical Director, Amodu Shaibu, who

will oversee the match at Bata between Falcons and the hosts. NFF President Amaju Pinnick said, “We had plans for a chartered flight, but not in the sense of paying for everything. For example if we were to spend $60, 000 to airlift the team normally, we were expecting that our friends in the aviation industry would help us by asking us to pay same amount for the entire team.”

Nwobodo returns Friday

igeria U-20 player Obinna Nwobodo has successfully completed treatment for anterior cruciate ligament tear, and will fly back to Nigeria from Qatar on Friday. The midfielder, who was injured during the final match of the 2015 African Youth Championship between hosts Senegal and Nigeria in Dakar on March 22, did his final MRI (Magnetic Resonance Imaging) on Tuesday and was declared fit to return to his first love. The NFF sent the player to the Aspetar Orthopaedic and Sports Medicine Hospital, Doha, Qatar at the beginning of July and he had a successful operation on July 7. NFF General Secretary, Dr. Mohammed Sanusi, said on Tuesday that the joy of the Feder-

ation was that the player was back on his feet. “Obinna Nwobodo was injured on national duty and we feel duty –bound to give him full treatment to recover and return to the game that he loves so much. We are happy that this has been achieved and the player will return to Nigeria on Friday.”

Nwobodo

On Marble

When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.

World Record

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NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

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WEDNESDAY, JULY 29, 2015

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Worst World leader ever: Adolf Hitler was the dictator of Nazi Germany from 1934 to 1945. He was responsible for Nazi Germany, World War II and the Holocaust. This brutal dictator had a hand in killing at least 11 million people, including up to six million Jews. He is definitely the most sinister leader the world has ever seen.

Zakari’s legal and filial ties

he debate as to the propriety or otherwise of the appointment of Mrs. Amina Zakari as the Acting Chairman of the Independent National Electoral Commission is to a certain extent healthy for the electoral process and our democracy. There is also a sense in which the debate is distractive and unnecessary. I maintain that the debate is healthy because the Independent National Electoral Commission is one institution the Nigerian people are ready to showcase as evidence of a performing institution and a model for other African countries. It is a critical and fundamental institution of democracy whose independence, impartiality and ability to conduct credible election is germane to the survival of electoral democracy. The debate shows that more people are now interested in the health of the institution and the affirmation that an individual can make a difference. The debate is to some extent unhealthy because people with partisan political interest have kidnapped or hijacked the debate and are desperately trying to politicize the institution and weaken its independence and resolve to conduct credible elections. From my perspective, there are varied and variegated issues that have been raised relating to the appointment of the Acting Chairman of the Independent National Electoral Commission. The first is the constitutionality and legality of her appointment as the Acting Chairman of the Commission. Closely aligned to this is whether she can retain the said acting appointment or position considering the fact that her tenure as a National Commissioner of the Independent National Electoral expired on the 21st day of July 2015. Coterminous to this is whether she can really function optimally given the fact that the Commission can hardly form a quorum, majority of the National Commissioners having left office as their tenure had expired and the same thing with over 15 Resident Electoral Commissioners whose tenure also expired. The adjunct issues relates to what some people see as personal impairment relating to her previous working affiliations and filial linkages. There is a consensus that the President and Commander in Chief of the Armed Forces of the Federal Republic has not appointed the Chairman of the Independent National Electoral Commission. This because the Independent National Electoral Commission is one of the Federal Executive Bodies listed in section 153 of the Constitution. By section 154(1) of the Constitution, the power to appoint the Chairman of the Commission resides with the President subject to confirmation by the Senate and by section 154(3) of the same Constitution in exercising his power to make the appointment; the President shall consult the Council of State. By section 156 of the Constitution, no person shall be qualified for appointment as a member of the Commission if he is not qualified or if he is disqualified for election as a member of the House of Representatives; provided that a member of any of the Federal Executive Bodies shall not be required to belong to a political party, and in the case of the Independent National Electoral Commission, he shall

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Zakari

not be a member of a political party. Part 1 of the Third Schedule to the Constitution also provides that the Independent National Electoral Commission shall comprise a Chairman, who shall be the Chief Electoral Commissioner; and twelve other members to be known as National Electoral Commissioners. It also provides that a member of the Commission shall be nonpartisan and a person of unquestionable integrity; and be not less than 40years of age in the case of Chairman and not less than 35years of age in the case of the National Commissioners. Another issue that is not in dispute is the fact that Professor Attahiru Jega completed his tour of duty as the Chairman of the Independent National Electoral Commission and handed over to Ambassador Wali before the President appointed Mrs. Amina Zakari as Acting Chairman. It is also a fact that Mrs. Amina Zakari was a National Commissioner prior to her appointment as the Acting Chairman of the Commission. Is the appointment of Mrs. Amina Zakari as the Acting Chairman of the Independent National Electoral Commission by the President constitutional and legal? My honest opinion is that it is within the constitutional and legal power of the appointing authority to appoint Mrs. Amina Zakari in an acting capacity pending the appointment of a substantive Chairman for the Commission. The Constitution of the Federal Republic of Nigeria, 1999(as amended) created the office of the Chairman of the Commission and did not create the office of the Deputy Chairman or Vice-Chairman of the Electoral Body. What then is to be done if for any reason the office of the Chairman is vacant and it is not feasible or expedient to appoint a substantive Chairman of the

Electoral Body? My position is that the President of the Federal Republic of Nigeria can constitutionally and legitimately appoint any person possessing the requisite qualification as outlined in the Constitution in an Acting capacity pending the appointment of a substantive Chairman. This is because section 318(2) of the Constitution provides that wherever it is provided that any authority or person has power to make, recommend or approve an appointment to an office, such power shall be construed as including the power to make, recommend or approve a person for such appointment, whether on promotion or otherwise, or to act in any such office. Section 318(3) of the Constitution also provides that references to a person holding an office shall include references to a person acting in such office while subsection 4 provides that the Interpretation Act shall apply for the purposes of interpreting the provisions of the Constitution. Section 11 of the Interpretation Act, Cap 123 of the Laws of the Federation of Nigeria, 2004 provides that where an enactment confers a power to appoint a person either to an office or to exercise any functions, whether for a specified period or not, the power includes(a) Power to appoint a person by name or to appoint the holder from time to time of a particular office; (b) Power to remove or suspend him; (c) Power, exercisable in the manner and subject to the limitations and conditions(if any) applicable to the power to appoint(i) To reappoint or reinstate him; (ii) To appoint a person to act in his place, either generally or in regard to specified functions, during such time as is considered expedient by the authority in whom the power of appointment in question is vested. Subsection (2) of section 11 also provides that a reference in an enactment to the holder of an office shall be construed as including a reference to a person for the time being appointed to act in his place, either as respects the functions of the office generally or the functions in regard to which he is appointed, as the case may be. The second aspect of the issue is that Zakari was still a serving National Commissioner of INEC as at the date of her appointment and as such the President has no power to abridge her tenure and she must therefore of necessity exit the Commission on the expiration of her tenure. She is a public officer within the meaning and contemplation of Part 1 of the Fifth Schedule to the Constitution. She comes within the ambit of Chairman, members and staff of permanent commissions or councils appointed on full time basis as provided in part 11 of the Fifth Schedule to the Constitution. Therefore by section 156(2) of the Constitution “Any person employed in the public

service of the Federation shall not be disqualified for appointment as Chairman or member of any such bodies; provided that where such person has been duly appointed he shall, on his appointment, be deemed to have resigned his former office as from the date of the appointment.” I am not ready and or qualified to delve into the filial relationships raised in relation to her appointment as some of the issues are mundane and wrapped in speculation and sophistry. It is sufficient to make the point that as at the date of her appointment the previous regime told the Nigerian people that she was qualified. They told the Nigerian people that she is not a member of any political party and that she is non partisan. The appointing authority was also aware that she had professional, working and filial relationship with certain individuals who are now in power and believed that such was not capable of impairing her independence or sense of judgment. However, it is important for the President to make up his mind and appoint a substantive Chairman for the Independent National Electoral Commission. If the President wants the current acting Chairman as the substantive Chairman, he should move and consult the Council of State and forward her name to the Senate for confirmation. If she does not meet the criteria or fit into the framework of the person the President wants to appoint, the search party should expedite action to enable the appointment to be made. An acting appointment has imbedded in it a psychological impairment and such a person may not perform optimally considering the uncertainty inherent in such appointment. The President should also hasten action and appoint the full complement of National Commissioners and Resident Electoral Commissioners. The Independent National Electoral Commission is a national institution with a national pedigree and the President will be acting in the national interest by appointing the full complement of National and Resident Electoral Commissioners.

HIGH CHIEF CRITICS CAN’T STOP MY VISION FOR OSUN - Aregbesola

- But non-payment of salaries can!

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