Wednesday, june 10, 2015 binder1 by Newtelegraphonline

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS /newtelegraph

Vol. 2 No. 476

Wednesday, June 10, 2015

@newtelegraph1 www.newtelegraphonline.com

N150

Director General, Budget Office, okogwu, resigns NEW TELEGR

Fuel crisis may worsen over pipeline closure

he current fuel crisis in the country may worsened in some states as the

Nigerian National Petroleum Corporation (NNPC) yesterday announced the shutdown of Atlas Cove in Lagos. The closure will lead to the

disruption of petroleum products' supply to NNPC depots in Mosimi, Ore, Ibadan and Ilorin and aggravated the fuel shortage in Ogun, Ondo, Oyo, Kwara

and neighbouring states. The closure of the Atlas Cove was in response to a fire that gutted the System 2B pipeline CONTINUED ON PAGE 6

DAY, JUNE 10,

2015

...EXCLU SIVE LAG OS MAG AZINE

City

LIFE IN THE CITY Brick wall

MY CITY, MY WORLD

Tragedies a

lNNPC shuts Atlas Cove, System 2B Adeola Yusuf

APH WEDNES

The Mega

There is much to be desire d in Lagos

t dawn

eight pages of mega city Sympatizer around

the tanker

that cause

the fire disaster

}21

At least over 1,000 Lago and Idimu. s While the stateresidents have been rendered home MUrITALA AYINLA and government is maki less in petro ng effort EzUrIkE UgOc leum hUkWU write s to forestall recurrence tanker explosions that he time was occurred in to alert his , homeless Wakil was 11:49p.m, Hafeez family memb Iyana-Ipaja victims are other neighb ers and work when returning from clamouring woke his wife ours. He thereafter for succour. fuel laden he noticed a fallen and the three petrole their childr

s in Lagos

about 130 meters awayum tanker home, spillin from his g its conten road and in the drainst on the ing the immin . ent explos Sens55-year-old ion, the man ran to his house

en living grand properties, with him from one fled throug spreading and building In the morni to the other. The achiev scaled the h the backyard. They fence ng when ements of thing becam everyseveral years streets. Childr to other adjoin labour of ing perished were compl e clearer, 34 houses en and the presence. who could in their etely elderly The Lagos State personnel of the shops were razed burnt while 70 escape fromnot scale the fence to with the goods the raging inside them. hectic time Fire Service had whisked across fire Electr a to the other were fire but the battling the raging badly burnt whileic poles were of the street side through a cables littere the burnt been done, damage had alread The shout hole. d the y be moved not even a pin could tire community floor. The en(fire!fire!!fire of “Ina!Ina!!In a!!! out of the was like battle shops. in the terrib !!!), rented the houses and ground ravaged They watched air by war. le midnight. That was stampede, Many In the nursin the helplessly as scenario some sustain of the not see their g mothers could tanker explosion injury, other the ed minor that sudden children raging fire destro following arms in the broke their legs and until the rendered the reside ly morni nts of Idimuyed Egbe road away from process of runnin Shop owner ng. homel their properties the g of such disaste ess. The second streets rusheds on the affecte In a twinkl inferno. r that claime d eral houses e of an eye, salvage their to the scene er explod d sevthe tank, shops and ed, to vehicle worth of goodsmillions of Naira in Lagos within other buildi spreading quickly a week. The s to ngs aroun cident occurr nothing except but they could through flowin d the acg petroleum area to join reside do after anothe ed barely four days in the lamen uct in the proddrains that tation of their nts Iyana-Ipaja, r tanker exploded es. They lamen buildings. pass throug at another densel loss- ulated h ted the in y area popcash kept From far, the shops ing 24 cars,in the state, destro their shops. and the goods lessly as the they watched helpythree house in raging fire s and just bough Many said they had several shops. destroyed Fourteen t person wept for the some goods, others were badly injure shops they damage done to the dent which occurr d in the incihad just refurb ed at 1:am. ished.

national assembly leadership tussle

Day of rebellion OLUWATOSI N OMONIYI CITY EDITOr

tosin.omoniyi@ne wtelegraphonline

.com © Daily Telegrap h Publishin g Company Limited

CONTIN UED

ON PAGE 26

lSaraki, Dogara outsmart APC lBuhari: Lawmakers have spoken }5 lWe won't recognise them, says APC lHow party lost out

Senate President Bukola Saraki after his election...yesterday

PHOTO: ELIJAH OLALUYI

Speaker, House of Representatives, Hon. Yakubu Dogara, after his election...yesterday PHOTO: ELIJAH OLALUYI

Quick Read

Again, military invades Zaki-Biam

Editorial

Cephas Iorhemen

National Assembly: The big losers }16

Makurdi

or the second time in 14 years, the military yesterday invaded

Zaki Biam, Benue State, following the killing of a soldier and a riot police officer in the town by armed robbers. Investigation by New

Telegraph revealed that the victims were returning from their duty post at dawn when they ran into a roadblock mounted by an armed robbery gang

at a popular 'Y' Junction in Zaki Biam. The robbers opened fire on them and killed them. According to eyewitness accounts, the robbers

came in a Toyota car and started shooting sporadically to scare residents. They also robbed people of a large sum of monCONTINUED ON PAGE 6

The assault by Amnesty }19

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

News

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

National Assembly leadership tussle: Saraki, Dogara outsmart APC Our Correspondents

eeks of horse trading and intrigues in the race for the leadership of the two chambers of the National Assembly ended yesterday with Senator Bukola Saraki and Hon. Yakubu Dogara defeating the consensus candidates of the All Progressives Congress (APC), for the Senate president, Senator Ahmed Lawan and House of Representatives Speaker, Hon. Femi Gbajabiamila, respectively. While Saraki was elected unopposed as Senate president, Dogara trounced Gbajabiamila by 182 votes to 174 to emerge as speaker.` The APC National Working Committee (NWC) had, in a shadow election among its members in the National As-

sembly, adopted Lawan and Gbajabiamila as its consensus candidates for Senate presidency and House speakership respectively. The emergence of Saraki was heralded by drama as while some aggrieved APC senators with support from their colleagues from the Peoples Democratic Party (PDP) were electing him, Lawan and other senators elected on the platform of the governing party were at another venue in Abuja for a meeting with President Muhammadu Buhari. With their absence, Saraki was elected unopposed by 57 out of the 108 senators. However, Buhari did not turn up for the meeting with the APC senators and party chiefs as he dropped the idea having learnt that the Senate had begun sitting and was about electing

its leaders. Saraki's victory, which shocked many watchers of the events that preceded the election, was facilitated by his last-minute adoption by the PDP, which traded off their support to gain the position of the Deputy Senate President. Based on the bargain, Senator Ike Ekweremadu (PDP, Enugu West) who was the Senate Deputy President in the last dispensation retained his opposition after defeating APC's Senator Ali Ndume by 54 votes to 20. PDP National Publicity Secretary, Mr. Olisa Metuh, had in a three-paragraph statement in the early hours of yesterday, announced the decision of the party to adopt Saraki and Dogara as the party's choices for the Senate presidency and House speakership respectively.

PDP has 48 members in the Senate and about 150 members in the House. Earlier before Saraki's election, the Clerk of National Assembly (CNA), Mr. Abubakar Salisu Maikasuwa, had read Buhari's proclamation to signal the takeoff of the Eighth National Assembly. Thereafter, the CNA directed the Clerk of the Senate, Mr. Adedotun Durojaiye, to take the roll call of senators-elect present in the chamber. This was done and Durojaiye confirmed that there were 57 members to participate in the election. Having satisfied that the quorum of one-third of the membership of the Senate as required by the 1999 Constitution had been met, Maikasuwa called for nomination. The quorum of the 109-member Senate is 37.

Saraki was nominated by a former Deputy Senate Minority Leader, Senator Sani Ahmed Yerima, representing Zamfara West and Senator Dino Melaye, who represents Kogi West Senatorial District, seconded the nomination. Maikasuwa called on Saraki to either accept or decline the nomination. Saraki immediately affirmed his nomination after which the clerk also called for another nomination but nobody made responded. With no other nomination for the Senate presidency, Maikasuwa announced Saraki as the newly-elected Senate president. The CNA also administered oath of office on him not only to make Saraki the Senate president, but also the Chairman of the National Assembly.

L-R: All Progressives Congress (APC) National Publicity Secretary, Alhaji Lai Mohammed; former Lagos State Governor, Senator Bola Tinubu and Chief Bisi Akande in Abuja…yesterday. PHOTO: TIMOTHY IKUOMENISAN

Director General, Budget Office, Okogwu, resigns Abdulwahab Isa Abuja

here are indications the DirectorGeneral of Budget Office of the federation, Dr. Bright Okogwu, has resigned his position, a dependable presidency source confided in New Telegraph yesterday in Abuja. Multiple sources who spoke with our correspondent said Okogwu resigned to take directorship appointment at the African Development Bank (AfDB) headquar-

ters at Abidjan, Côte d’Ivoire where Dr. Akinwumi Adeshina, Nigeria’s immediate past Minister of Agriculture recently got elected as AfBD President. New Telegraph learnt that Okogwu passed his resignation letter to the Presidency last week and a Director of Fiscal Department, Alhaji Yahaya Gusau has replaced him in acting capacity. Described as loyal and committed ally of the immediate Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala,

sources told our correspondent that his new job at AfDB was aided by Okonjo-Iweala. Efforts by New Telegraph to reach out to Okogwu on his mobile phone was futile as he did not respond to an sms forwarded to his phone. However, a close confidant of his also confirmed both his resignation from the Budget Office and new appointment to our correspondent. Okogu had been Director General, Budget Office of the Federation since December 2007. His previous positions include

Senior Economist at the International Monetary Fund (IMF), Washington D.C., Senior Operations Officer at Organisation of the Petroleum Exporting Countries (OPEC) Fund and Market Analyst, OPEC Secretariat in Vienna, Austria. Before his appointment as DG Budget, he served as Special Adviser to the Minister of Finance (2004 to 2007) and was also the pioneer Executive Secretary of Nigeria Extractive Industries Transparency Initiative (NEITI). As a Special Adviser to the Finance Minister, he

played a key role in the Economic Management Team in the formulation and implementation of the economic reform programme that culminated in the debt relief. Okogu holds BSc and MSc degrees in Economics from the London School of Economics, and a Doctorate degree in Economics from the University of Oxford. Founded in 1954, AfDB is a multilateral development finance institution established to contribute to the economic development and social progress of African countries.

Ekweremadu's nomination for the Deputy Senate presidency was moved by Senator George Sekibo and seconded by Olaka Nwogu (PDP, Rivers West). Ndume (APC, Borno South) was also nominated for the same position. At the end of the voting, Maikasuwa accorded Saraki's predecessor, Senator David Mark, special recognition by singling him out to personally administer the oath of office on him. The rest of the senators were sworn in by Durojaiye. In his inaugural speech, Saraki said his administration would work hard to protect the independence of the legislature in the interest of the democracy and the citizenry. He, however, cautioned that the quest to assert the independence of the parliament must be carefully handled in such a way that it must not lead the legislature pursuing adverse relations with other arms of government. He said the Senate under his leadership would carry out its constitutional responsibilities, anchored on the principles of accountability, equity and fairness. According to him, the change, which the people of Nigeria voted for in the 2015 general elections, is a change that will take people away from a life of poverty and misery to a life of prosperity, happiness, security comfort, accountability and respect for democracy. He expressed excitement that irrespective of differences in political party affiliations and other diversities in the polity, the senators were able to unite and vote as one family for public interest and advancement of the nation's democracy. He also saluted Buhari for remaining steadfast in his defence of the right of the National Assembly to choose its own leaders, which he said had laid a solid foundation for the stability of the new National Assembly. While still smarting from the loss of its candidate for the Senate presidency, the APC also suffered another defeat in the House with the emergence of Dogara. Dogara represents Bogoro/Dass/Tafawa Balewa Federal Constituency of Bauchi State on APC platform while Gbajabiamila represents Surulere CONTINUED ON PAGE 7

News

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

How PDP struck deal with Saraki –Investigation Onyekachi Eze ABUJA

he election yesterday of former Kwara State governor, Senator Bukola Saraki as President of the eighth Senate raised hope for the possibility of the Peoples Democratic Party (PDP) to regain power at the centre in 2019. Saraki was elected unopposed despite the decision of the governing All Progressives Congress (APC) to field Senator Ahmed Lawan as its sole candidate for the Senate presidency. The former Kwara State governor, who opposed the choice of Lawan as the party's sole candidate, however, rode on the crest of the PDP. Out of the 57 senators present when he emerged President of the Senate, 49 of them were PDP members. Saraki's hope of becoming Senate President was buoyed after PDP's meeting with its legislatorselect on Monday night. The meeting, which had 46 PDP senators in attendance (former Akwa Ibom State governor, Godswill Akpabio came late), was jointly presided over by

Senators David Mark and Ike Ekweremadu. It was gathered that three items were on the agenda – to adopt Saraki as consensus candidate, to adopt the APC adopted candidate, Senator Lawan or to adopt a neutral candidate outside the two. A source at the meeting disclosed that the idea of adopting Lawan was knocked out because that will be toeing the APC line. He revealed that members had to resort to voting before they finally settled for Saraki. According to him, 28 members present voted in favour of Saraki's candida-

ture while 16 voted against. Mark and Ekweremadu did not vote. And because they had agreed that the party would adopt the position of the majority, former Plateau State governor, Senator Joshua Dariye, rose to move that the 16 members who voted against would support the decision of the party. "Just then, Akpabio came in, and said as a democrat he concur with the decision taken. Saraki was invited and told the resolution reached," the source added. A source at the meeting revealed that the party

took the decision not just as a bargaining chip but towards repositioning itself towards 2019. "It is said that the end of an election is the beginning of another. So, the campaign for 2019 has just begun. APC is in power now but I bet you PDP will rule Nigeria in 2019," a source at the meeting said. As part of the deal to support the APC renegade candidates, PDP gave a condition that its members would be elected as Deputy President of the Senate and Deputy Speaker of the House of Representatives. Ekweremadu, former

Deputy President of the Senate who is also a member of PDP, was returned to his former position. The source, however, revealed that beside the deal, PDP has an eye on 2019 presidential election. "PDP is going bounce back in 2019. Nigerians did not vote for APC in 2015; they voted for Buhari. In 2019, Buhari will be too old to re-contest or his rating will come down. We know he is preparing someone from the North, a serving governor to take over from him. "The pressure will be on the APC in 2019. Many members of the party will

be interested in the presidency. Atiku (Abubukar) is interested; Bukola Saraki is eyeing the presidency; we also know that (Rabiu) Kwankwanso wants to be president. The heat will be too much in the APC. "Before 2019, some former PDP members in APC will return to PDP. This is where they believe they will have the chance to run for the presidency. This is the game PDP is playing," he argued. Another member of the party said President Muhammadu Buhari is preparing Mallam Nasir el-Rufai as his possible successor.

TODAY’S WEATHER FORECAST LAGOS

ABUJA

PORT HARCOURT

KANO

ENUGU

IBADAN

CALABAR

MAIDUGURI

ONITSHA

29o C 24oC Thunder Storms

31oC 23oC Partially Cloudy

L-R: Executive Director, First Securities Discount House (FSDH) Merchant Bank, Mr. Hamda Ambah; Executive Director, Infrastructure Bank, Mr. Adekunle Oyinloye; Chief Executive Officer, Lead Capital Plc., Prince Bimbo Olashore and Chief Executive Officer, Nigeria Mortgage Refinance Company (NMRC), Mr. Charles Inyangete, during the Lekki Gardens Investment Forum in Lagos…yesterday. PHOTO: TONY EGUAYE

NNPC shuts Atlas Cove, System 2B CONTINUED FROM PAGE 1

21oC 19oC Storm

39oC 25oC Mostly Sunny

29o C 23oC Thunder Storms

30o C 23oC Thunder Storms

28oC 23oC Storm

41oC 26oC Sunny

29oC 23oC Storm

from Atlas Cove to the depots. Suspected vandals had severed the System 2B pipeline in Ije Ododo area of Lagos, halting the smooth transportation of petroleum product through the facility. Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ohi Alegbe, told New Telegraph that the corporation was working hard to first extinguish the fire, which has been raging on the facility since the midnight on Monday. "As we speak, there is fire raging at the vandalised point and we've shut down the line. The terrain is difficult and swampy. Our staff are on ground working to gain access to the fire and the vandalised point now. "We hope to access the point shortly, extinguish the fire, affect the line repairs and re-stream the line as soon as possible,”

he said in a terse text message. It was learnt that the incident, which occurred at the Ije Ododo pipeline at 11.45p.m. Monday, has set residents and landlords in the area in a panic mood. Ije Ododo line is directly from Atlas Cove, which supplies products to Mosimi. Atlas Cove is a critical supply facility to Mosimi, which supports strategic supply chain that distributes products to other parts of South-West zone. "This situation will definitely slow down efforts to end fuel scarcity in the country," Olumide Balogun, a fuel trader, said. "This is one of the reasons that many are calling for deregulation of the downstream sector." The Lagos Chamber of Commerce and Industry (LCCI) had also added its voice to the call on the government to deregulate the oil and gas downstream sector.

Its President, Mr. Remi Bello, in a statement, said the deregulation of the sector would help to provide enduring solution to the recurring problem of scarcity of petroleum products in the country. The chamber identified other challenges, apart from fuel scarcity, to include corruption in the subsidy regime, collapse of refineries, dwindling investment in the downstream sector and loss of jobs. Noting that options available to the new administration are very limited, it stated that the current regime of subsidy and government’s direct involvement in the operations of oil and gas sector should be discontinued. The chamber said such a step would help the sector and lead to normalcy in the nation’s the economy. Besides, it would also attract private capital, boost investments and create jobs.

Again, military invades Zaki-Biam CONTINUED FROM PAGE 1

ey before leaving the town through Kassar Road. New Telegraph gathered that as a result of the impending invasion of the area by the army, most shops owners, schools, filling stations closed down in Zaki Biam causing tension in the area. The eyewitness said as a result of the killing of the army officer, dozens of armed military personnel were yesterday deployed in a fully loaded lorry from Makurdi, the state capital, to the area, a development which brought the memory of the 2001 army invasion of the town. In 2001, a similar incidence occurred when soldiers were said to have been killed in the area, thereby prompting the invasion of the town and other surrounding villages by the military which killed scores of innocent people and destroyed property. Spokesman of the state’s police command,

Mr. Austin Ezeani, an Assistant Superintendent of Police (ASP), who confirmed the incident, said the deceased officers were members of ‘Operation Zelda’, a special squad comprising mainly the army and riot policemen in the state. According to Ezeani, those killed included a police sergeant attached to 13 MOPOL Unit in Makurdi, while his soldier counterpart, a Lance Corporal, who is of 72 Special Battalion Makurdi, died in the ambush by the robbers who opened fire on them about 6a.m. yesterday. The police spokesman added that the deceased security officers were actually part of the team trying to respond to a distress call by some victims of the robbers before they ran into the ambush. Ezeani said the police had already started getting vital information from the area and assured the people that soon some arrests would be made.

News

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Nigeria’s summit to be ‘decisive' for B'Haram task force –Benin’s president

L-R: Senior Partner, Olisa Agbakoba Legal (OAL), Dr. Olisa Agbakoba; Managing Partner and Director Arbitration and Mediation Centre, Mrs. Priscilla Ogwemoh and Partner, Corporate/Public Sector Group, Mrs. Olabisi Akodu, at a news conference in Lagos…yesterday.

PHOTO: SULEIMAN HUSAINI

ountries waging a regional fight against the Nigerian Islamist militant group Boko Haram will take significant steps towards establishing a joint task force when they meet on Thursday in Abuja, Benin's president, Boni Yayi, said. Boko Haram has killed thousands and displaced around 1.5 million people during a six-year insurgency, seeking to establish an Islamic emirate and extending its reach into neighbouring Chad and Cameroon. Nigeria's neighbours have been urging closer coordination and the deployment of a joint task force, headquartered in the Chadian capital N'Djamena. But diplomats say the process has been slowed down by Ni-

geria's reservations about foreign troops operating on its soil and by its presidential election in March. Benin's Yayi said the new president, Muhammadu Buhari, was "very determined". "The discussions we have had with him reassure us," he told reporters after talks with French President Francois Hollande in Paris. "We are going to put an end to this odious phenomenon ... This summit will be decisive." The defence chiefs of Nigeria, Niger, Cameroon, Chad and Benin were meeting in Abuja on Tuesday to lay the groundwork for the task force. Benin has not deployed any troops against Boko Haram yet, but has agreed in principle to join the force.

We won't recognise Saraki, Dogara, says APC CONTINUED FROM PAGE 5

Federal Constituency of Lagos State. Maikasuwa administered the oath of office on the new speaker, whose emergence followed the pattern of his predecessor, Hon. Aminu Tambuwal in 2011. Tambuwal, then of the PDP, had defeated the party's consensus candidate, Hon. Mulikat AkandeAdeola, with the help of renegade lawmakers from the then ruling party who were assisted by their colleagues from the now defunct Action Congress of Nigeria (ACN), one of the legacy parties of APC. Dogara was nominated by Hon. Abdulmumini Jibrin (APC, Kano), while Hon. Chike John Okafor (APC, Imo) seconded his nomination. In the case of Gbajabiamila, Hon. Mohammed Sani Abdul (APC, Bauchi) nominated him and his nomination was seconded by Hon. Philip Shuaibu (APC, Edo). Also, Hon. Yusuf Suleiman Lasun (APC, Osun) was also elected as deputy speaker having thrashed Hon. Mohammed Monguno (APC, Borno) by 203 to 153 votes. Lasun represents Osogbo/ Olorunda / Orolu / Irepodun Federal Constituency of Osun State and was first elected to the House in 2011. Lasun was nominated by Hon. Babangida Ibrahim Mahuta (APC, Katsina) and this was seconded by Hon. Mark Terseer Gbilah (APC, Benue) while Hon. Alhassan Ado Doguwa (APC, Kano) nominated Monguno and his nomination was seconded by Hon. Ayo Omidiran (APC, Osun).

In his acceptance speech, Dogara said: "What has been demonstrated here today, is the resolve of members of the House to assert the independence of the legislature as a coequal arm of government." He said his election was a sign that the legislature had come of age. "By electing me as speaker, you have demonstrated to the world that our legislature is living up to the dreams and aspirations of our founding fathers. "You are leaving a legacy of an accountable, autonomous, focused, progressive and united House capable of playing its role as the stabilising force in our polity. We have shown once again that this is a House of the Nigerian people," he stated. He hailed Buhari for his exemplary leadership in providing a level playing field that enabled Lasun and him to emerge as speaker and deputy. He thanked Gbajabiamila for his sportsmanship and promised to reach out to his opponent to run a united House. He promised to collaborate with the executive to fight corruption and insecurity in the country. Reacting to the developments in the National Assembly, Buhari expressed his readiness to work with the new leadership of the legislature. A statement yesterday by the Special Adviser on Media and Publicity to the president, Mr. Femi Adesina, quoted Buhari as saying that although he has noted the interest of the APC in the just-concluded elections, he did not have a preferred candidate. "The president would rather that the process of

electing the leaders as initiated and concluded by the APC had been followed. Nonetheless the president took the view that a constitutional process has somewhat occurred. "President Buhari had said in an earlier statement that he did not have any preferred candidate for the Senate and the House of Representatives, and that he was willing to work with whoever the lawmakers elected," he said. According to the president, he believes in and still stands on his earlier position not to interfere with the outcome of election and emergence of the National Assembly leadership. The statement added that the stability of constitutional order and overall interest of the common man were uppermost on the president's mind, as far as the National Assembly elections were concerned. The president called on all the elected representatives to focus on the enormous task of bringing enduring positive change to the lives of Nigerians. But the APC described as totally unacceptable and the highest level of indiscipline and treachery the emergence of Saraki and Dogara as Senate president and House speaker. A statement by its National Publicity Secretary, Alhaji Lai Mohammed, said: ''Senator Bukola and Hon. Dogara are not the candidates of the APC and a majority of its National Assembly members-elect for the positions of Senate president and House speaker. The party duly met and conducted a straw poll and clear candidates emerged for the posts of Senate president, deputy Senate president and

speaker of the House of Representatives, supported by a majority of all senators-elect and members-elect of the House of Representatives. All National Assembly memberselect who emerged on the platform of the party are bound by that decision. ''The party is supreme and its interest is superior to that of its individual members; consequently, the APC leadership is meeting in a bid to reestablish discipline in the party and to mete out the necessary sanctions to all those involved in what is nothing but a monumental act of indiscipline and betrayal to subject the party to ridicule and create obstacles for the new administration.” But the PDP urged the APC to stop whining over the outcome of the National Assembly leadership elections and accept the decision of the legislators. Metuh in a statement also called on APC leaders to respect the independence of the legislature. According to the party, what happened in the National Assembly is a result of "the naivety and crass inexperience" of APC. It described the development in both chambers of the National Assembly as “victory for democracy and triumph of the timehonoured value of the PDP that every zone and segment of the country must at all times be given a sense of belonging in governance." The PDP said it would continue to partner like minds in other political parties and groups to ensure the sustenance of the nation’s democracy, which it nurtured in the last 16 years. PDP congratulated

Saraki, Ekweremadu and Dogara, noting that their elections underscore the fact that no section of the country should be neglected on national issues. Earlier, Metuh had taunted a former Lagos State Governor, Senator Bola Tinubu, on the outcome of the National Assembly elections. “This is payback time for the former Governor of Lagos State, Bola Ahmed Tinubu, who played the spoiler role against the PDP in 2011; this is just Politics 101,” he said in an interview. Meanwhile, it was learnt yesterday that the president shunned the meeting with APC leaders and lawmakers because the meeting was not on his itinerary for yesterday. “Even the president found it strange that such a meeting was summoned without his approval; it was not among his outings at all for today (yesterday) and he has vowed to unravel how the invitation was sent out, who approved it and at whose instance, ’ a source said. New Telegraph learnt that it was after the invitation for the meeting had been issued that some leaders of the APC tried to convince Buhari, albeit unsuccessfully, to address the lawmakers. Among those who tried to persuade him were Tinubu and the party’s National Chairman, Chief John Odigie-Oyegun. “As early as you can think of, some leaders of the party had thronged the residence of the president to convince him to address the lawmakers at the International Conference but he insisted that he had no business going there and that his proclamation

had already been sent to the National Assembly. He even reminded them that he stood by his promise not to interfere in the choice of the National Assembly leadership. But the president’s Senior Special Assistant on Media and Publicity, Malam Garba Shehu, said Buhari did not shun the meeting. “There are so many things of national importance to be done in this country; many things are calling for attention; the president did not shun the meeting,” Shehu told New Telegraph. The meeting was scheduled for Buhari to address the APC legislators before proceeding to National Assembly to inaugurate them Among the National Leaders of APC who were at the International Conference Centre (ICC), venue of the meeting, were Tinubu, Dr. Ogbonnaya Onu, Chief Bisi Akande, OdigieOyegun, APC National Secretary, Alhaji Mala Mai Bunu, Yobe State Governor, Ibrahim Gaidam, and former Governor of Kogi State, Abubakar Audu. Also, senators and members of House of Representatives supporting Lawan and Gbajabiamila were present. The meeting, which was conveyed for 9am, could not hold until 11am when the APC national leadership and legislators dispersed the venue on the news of Senate presidency election. While the party members were waiting, New Telegraph overhead discussion among some senators who were demanding Odigie-Oyegun's resignation for his inability to ensure victories for the party's candidates.

News

WEDNESDAY,JUNE 10, 2015 NEW TELEGRAPH

NATIONAL ASSEMBLY LEADERSHIP RACE

N’Assembly election: Lawyers ask APC to respect lawmakers’ wish Tunde Oyesina Abuja

awyers yesterday applauded the National Assembly’s election which produced its principal officers, saying the election was in order. They, however, asked the leadership of the ruling All Progressives Congress APC, to accept the outcome of the election as the wish of the majority. The lawyers, who were unanimous, said it was time the party which

termed itself the progressives allowed the wish of the lawmakers as expressed in the choice of Senator Bukola Saraki as Senate President and Malam Yakubu Dogara as Speaker House of Representatives to stand, describing the party’s rejection of the election as mere ‘face saving move’. Saraki was yesterday elected unopposed as Senate President while Dogara was sworn-in as Speaker House of Representatives having polled 186 to defeat the APC’s choice, Femi Gbajabiamila who polled 174.

Shortly after their victory, their party in a statement out-rightly rejected the outcome of the election, threatening to seek redress in court, insisting that Saraki and Dogara who were regarded as treacherous and disloyal members were not its choice. But lawyers who spoke with the New Telegraph asked the party to toe the path of democratic process by respecting the wish of the lawmakers who in a free and fair election elected their leaders. For instance, an Abujabased lawyer, Garuba Idris

described the APC’s position as a ‘face saving grace’, asking the party to respect the wish of the lawmakers to determine their own affairs. Idris, however, urged party leaders to draw a line between the internal affairs of a political party and that of the National Assembly, claiming that there was no basis to have tagged the new NASS leaders as treacherous. Another lawyer, Godwin Anazodo, appealed to APC not to heat up the polity but to accept the verdict of the lawmakers as freely expressed in an election

conducted strictly in accordance with their own rules and regulation. He further stated that from what Nigerians saw during the NASS elections, it was free and fair enough for APC to have commended the lawmakers for standing by their own principle, rather than condemning them for doing the right thing. Anazodo, who faulted

Atiku, Obi salute new N’Assembly leaders Johnchuks Onuanyim Abuja

L-R: Senator Barnabas Gemade; Senator George Akume and the defeated Senator Lawan Shuaibu, at the International Conference Centre in Abuja …yesterday. PHOTO: TIMOTHY IKUOMENISAN

zoning formula, however counselled the party to realize that the law allows the lawmakers to freely choose their own leaders among themselves irrespective of any political affiliation. Idris and Anazodo were echoed by Dele Ajumobi, who asked the APC leadership to respect the lawmakers’ choice especially when the election was conducted free and fair.

ormer Vice President and chieftain of the All Progressives Congress, Atiku Abubakar, has congratulated the newly elected Senate President, Senator Bukola Saraki and Speaker House of Representatives, Hon. Yakubu Dogara. Also, former Governor of Anambra State, Mr. Peter Obi has commended the newly elected leaders of the National Assembly. He reminded them that their positions were meant for service and urged them to see it as such. Atiku, also in the statement issued yesterday by his media office, congratulate other leaders of the National Assem-

bly, admonishing them to see their elections beyond the narrow interests of respective political parties. He, however, advised that with the elections of its presiding officers, the 8th National Assembly should swing to work and put the overall national interest beyond the personal political interests of its members. He said, “With the election of its presiding officers, the 8th National Assembly has prepared the ground work for a full legislative business”. Atiku while congratulating the new leadership on their election, he reminded of their responsibilities to their constituents, which, he said, is to put the national interest before their individual political interests.

Kalu congratulates National Assembly leaders Ahmed, Tambuwal rejoice with Saraki, Dogara Temitope Ogunbanke

ormer Governor of Abia State, Dr. Orji Uzor Kalu, has congratulated the newly elected leadership of the 8th National Assembly and wished them success in their new assignments. Kalu in congratulatory letters to Senate President, Bukola Saraki; Deputy Senate President, Ike Ekweremadu and Speaker, Yakubu Dogara, made available to New Telegraph yesterday, said the elected principal officers had distinguished themselves in their respective political careers. He said he is confident that Saraki, will bring to bear his wealth of experience in driving the affairs of the Red Chamber towards building a great Nigeria. “I would like to convey my warmest congratulations to you on your election as President of the 8th Senate. Over the years, you have distinguished yourself in your political career by sustaining the good legacy your father left behind. “With a strong track record in the public and

private sectors, couple with your robust goodwill irrespective of tribal, political, religious differences, I am confident that you will bring to bear your wealth of experience in driving the affairs of the Red Chamber towards building a great Nigeria,” he said. The former Abia State governor while congratulating Ekweremadu on his re-election, said the Deputy Senate President over the

years had distinguished himself with dynamic leadership skills in different capacities and positions. “With your accomplishments in the private and public spheres of life, I am optimistic that you will continue to discharge your duties and responsibilities in the Red Chamber with the highest level of commitment and patriotism towards building a prosperous Nigeria.”

Biodun Oyeleye Ilorin

wara State Governor, Alhaji Abdulfatah Ahmed has described the election of Senator Abubakar Bukola Saraki as a milestone development that will impact positively on democratic developments in the country. Ahmed in a congratulatory message, noted that it was noteworthy that Saraki

emerged as the Senate President, “through an open but inclusive process in line with the independence of the legislature and democratic ethos, which is undoubtedly a signal for Nigeria’s growth and development”. He added that Senator Saraki’s “outstanding performances as a two-term governor and a value driven politician strengthens our belief that your tenure as Senate President will be for

No election for Senate leadership, Senate presidency: Osun PDP says Akume congratulates Saraki,Dogara

enator George Akume yesterday said that there was no election conducted at the Senate arm of the National Assembly to elect its new leadership. Akume, in a statement alleged that what happened at the Senate yesterday lacked due process and also stressed that he had nothing against all those involved in the sham elections. He said “People think they can use money to subvert democracy but all that is rubbish and at the appropriate time, we will speak.”

Akume made reference to the straw polls conducted by the APC for its candidates as the APC lawmakers were at the ICC for a meeting called by the President when the sham elections went on. He urged his supporters not to be angry or worry about the sham elections, but worry for those who have subverted democracy and in due time, justice will be served. Akume also rstated that the sham will be pursued to the latter till the right thing was done.

Adeolu Adeyemo Osogbo

sun State chapter of the Peoples Democratic Party, PDP, yesterday felicitated with the newly elected Senate President, Dr. Bukola Saraki and the Speaker, Yakubu Dogara, over their victory in the just concluded elections in the National Assembly. The party, in a congratulatory statement by its Director Of Publicity and Strategy, Prince Diran Odeyemi, described the ability and capability of the duo as impeccable and

outstanding saying, they are fit for the positions they are now occupying and charged other assembly members to cooperate with them. The statement read: “It is expected that there will be a rancour-free session in the national assembly, since the “obvious most popular candidates were the ones elected by the lawmakers.” “We also commend President Mohammadu Buhari, who has led by example by not interfering in the election of principal officers of the national assembly.”

the good of Nigeria”. The Governor prayed for a peaceful tenure of the 8th Assembly and immeasurable benefits to the Nigeria people. Also speaking, Sokoto State Governor, Aminu Waziri Tambuwal, congratulated Saraki and Hon Yakubu Dogara over their elections as Senate President and Speaker of the House of Representatives respectively. He equally felicitated with the Deputy Senate President and Deputy Speaker of the House of Representatives over their elections. In a statement issued in Abuja Tuesday by his spokesman, Malam Imam Imam, Tambuwal commended members of the two Chambers of the National Assembly for exhibiting high sense of maturity and defence of legislative ethos in the choice of their leaders. He reiterated that the outcome of the National Assembly elections indicates that democracy has come of age in Nigeria and that the doctrine of the independence of the legislature is gradually taking firm root.

NEW TELEGRAPH wednesday, june 10, 2015

Bamaiyi: Witness indicts registrar on $330,000 fraud Akeem Nafiu

earing in the criminal case preferred against a former Lagos State High Court registrar, Mrs. Oluronke Rosolu accused of alleged connivance with a lawyer, Chief Fred Chinjindu Ajudua to swindle a former army chief, General Ishaya Bamaiyi of $330,000 continued yesterday before Justice Lateef Lawal-Akapo of an Ikeja High Court. At the proceedings yesterday, a polygraph expert who doubles as prosecution witness, Mohammed Umar, shocked the court when he said Rosulu failed a polygraph test to prove her innocence. Umar, a quality control operative attached to the Polygraph Unit of the Economic and Financial Crimes Commission (EFCC), while being led in evidence by the antigraft agency's lawyer, Seidu Atteh, said that his study of the video recording of the polygraph examination and other documents revealed that Rosolu was deceptive during the polygraph examination. Umar, who holds a diploma in psycho-physiological detection of deception, revealed that Rosolu's polygraph examination was not the first of its kind conducted in the country by his team.

FG to build entertainment city at National Theatre Tony Okuyeme

oncession of the fallow land around the National Theatre for development of complimentary infrastructural facilities in line with the master plan of the edifice has entered

ABUJA

he ComptrollerGeneral of Nigeria Customs Service (NCS) Dikko Inde Abdullahi has promised to investigate the involvement of Customs officers in the fracas that led to the manhandling of security personnel of the Federal Airport Authority of Nigeria (FAAN) at the Murtala Muhammad International Airport Lagos, with a promise to apply appropriate punitive action if they are found guilty. In addition, the Customs boss said he will review current deployments at the Murtala Muhammad International Airport Lagos, to ensure only officers who meet the requirements of civility are retained. These formed part of the resolutions arrived at a joint meeting between Customs delegation led by the Comptroller-General of Customs, Dikko Inde Abdullahi

final stages. The concession will see to the building of five star hotel, shopping mall, ultra-modern offices buildings, land and water parks, amusement park, and multi-level car park. The General Manager of National Theatre, Iganmu, Lagos, Mr Kabir

Yusuf, who disclosed this yesterday at the press briefing held at the boardroom of the Theatre, stressed that the concession arrangement relates to only the fallow land and not the main edifice nor any of its halls. He explained that at the inception, there has been plan to compliment

the National Theatre, like other theatres in other parts of the world with infrastructural facilities, such as five star hotel, shopping mall, offices, land and water parks, leisure and entertainment centre, multilevel car park. “These facilities are to be built and developed

L-R: Vice-Principal, Administration, Junior Secondary School, Kutunku, Gwagwalada, Hajiya Egigogo Hadiza; Happiness Eji; pupils of the school; Principal, Junior Secondary School, Kutunku, Gwagwalada, Mrs. Josephine Olupeka and General Manager, Regional Operations, North, MTN, at the presentation of a Digital Library to the school by MTN as part of the 21 Days of Y’ello Care activities in Abuja…yesterday

Customs boss to sanction officers for manhandling FAAN official Abdulwahab Isa

News

national

and FAAN Managing Director, Engr Saleh Dunoma to avert future fracas between two security personnel protecting the nation’s airport. A joint statement signed by the spokespersons of the two organisations, Wale Adeniyi( Customs PRO) and Yakubu Dati General Manager (Corporate Affairs of FAAN ) noted the joint meeting by the two bosses of the two organisations reviewed the facts of the event and resolved to maintain periodic consultations to facilitate airport security. On the part of the FAAN, the organisation resolved not to restrict the movement of Customs Officers deployed at the airport, but will continue to manage access control to ensure airport security in line with global standards while operations in the Airports will be guided by strict adherence to processes and procedures established by the Law.

on the fallow land of the National Theatre in accordance with the master plan in order to make the theatre more attractive and viable. “The Federal Government of Nigeria through the Federal Ministry of Tourism, Culture and National Orientation in its rebranding and transformation of the theatre and the nation’s tourism, considered the feasibility of Public Private Partnership for the provision of these facilities. “Consequently, a stakeholders committee made up of the Federal Ministry of Land, Housing and Urban Development, Federal Ministry of Works, Office of the Surveyor -General of the Federation, Federal Ministry of Tourism, Culture and National Orientation, Lagos State Ministry of Physical Planning, Infrastructure Concession Regulatory Committee (ICRC) and the National Theatre was constituted and inaugurated on 20th September, 2012 by the immediate past Honourable Minister, Federal Ministry of Tourism, Culture and National Orientation, Chief Edem Duke, who during the inauguration charged the Committee to think and plan on how best to actualize the master plan of the National Theatre since the government cannot go it alone because of other competing demands on the purse of the government,” he said.

Court remands Goodluck Support Group coordinators n Abuja High Court yesterday ordered that the Chairman of the Goodluck Support Group, Aminu Abubakar and Okechukwu Geoffrey be remanded in prison custody over allegation of blackmail. The accused persons were yesterday docked on a 3-count charge bordering on extortion and conspiracy to extort. The three count charge was slammed on them by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

When the charge was read to then, the accused persons pleaded not guilty. Prosecution counsel, George Lawal, however prayed the court for a date to commence trial in the matter. Counsel to the accused persons, E. A. Egbebu informed the court about his motion challenging the jurisdiction of the court to hear the matter and that the charges against the accused persons be quashed. Prosecution counsel, George Lawal objected to the application on the grounds that the application was premature. In his reply on points of law, counsel to the accused argued that since the mo-

Anule Emmanuel

G7 nations to support Buhari over Boko Haram

Tunde Oyesina ABUJA

he Group of seven industrialised nations (G7) has promised to support President Muhammadu Buhari in his new drive to fight the insurgency in the North East and other crimes in the country. The G7 is a group consisting of the finance

ministers and central bank governors of seven major advanced economies, namely, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. The decision of the group followed its acknowledgment of the

tion is challenging the jurisdiction, the court is expected to hear it before arraigning the accused persons. The trial Judge and the Chief Judge of the Federal Capital Territory (FCT), Justice Ishaq Bello refused the submission of the defence counsel that the court should hear the motion challenging jurisdiction before the accused persons take their plea. Justice Bello adjourned the matter till July 9, 2015, for hearing of the motion challenging the jurisdiction of the court filed by the defence counsel, while their bail application will be taken on June 11, 2015 The accused persons

way and manner of his emergence as President through a free and fair election and the tremendous challenges faced by the Nigerian government. A statement by Garba Shehu, the Senior Special Assistant (Media and Publicity) to the

were said to have been in possession of some documents relating to some officials of the Federal Ministry of Petroleum Resources, with the intent to implicate them if they fail to give him the sum of N50million. It was gathered that, having sensed danger in what the officials later realised to be blackmail, they reportedly petitioned the ICPC through an intermediary. The investigative team of the commission swung into action, coordinated a sting operation where the N50 million earlier solicited for by Abubakar was negotiated downwards to N25 million.

President, states that at the end of the presentation at the just consulted G7 summit in Germany, leaders of the group said that they recognised the President's massive amount of confidence and expectations behind his government.

WEDNESDAY,JUNE 10, 2015 NEW TELEGRAPH

Metro CRUELTY

A group of vicious armed men defile and kill an innocent 23-year-old lady

Gunmen rape girl to death

Cajetan Mmuta Benin

ension enveloped a section of Benin, Edo State capital, yesterday over the discovery of the body of a 23-yearold lady. The victim, identified as Joy Okoh, was abducted by gunmen, who raped her to death. The lady was said to be selling bread at the popular Lucky Way Junction near Ramat Park, close to Oregbeni Quarters in the ancient town. Miss Okoh was said to have been abducted on her way home. She was found dead inside the boot of a Sport Utility Vehicle (SUV) on Upper Mission Extension Road close to Aduwawa area of the town. It was learnt that the gunmen had snatched the SUV before it was abandoned. Besides, a boy in his teens, whose name is yet to be ascertained, was said to have stabbed his mother’s lover to death. It was learnt that the teenager, now on the run, committed the act last Friday while defending his mother who was engaged in a heated argument which later degenerated into a brawl with her late lover whose name was given as Osayande Edoigiawerie. The Edoigiawerie lived with his family on Zabayor

File picture of gunmen

Street, where his lover also lives with her children. Edoigiawerie’s children disclosed that their father had hurriedly left home that evening after receiving a call from his lover. The suspect and his mother are now on the run while the house where the

incident occurred has been deserted. The state Police Public Relations Officer (PPRO), DSP Stephen Onwuchei, confirmed the story yesterday. He said the command was carrying full scale investigation into the matter while efforts were on to track down the fleeing suspects.

Trader sues naval school for N10m Biodun Oyeleye Ilorin

graduate of Obafemi Awolowo University (OAU), Ile-Ife, Osun State, Mr Seyi Oyinlola, has sued the Nigerian Navy School of Science, Offa, Kwara State and four of its officers for N10 million. The suit, which borders on alleged molestation, was instituted at a Federal High Court in Ilorin. The other respondents in the suit before Justice Olayinka

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

Faji are the Commandant of the school, Captain J. A. Ajayi, and three naval ratings, Abubakar Shehu, Eme Abang and Markus Sunday. Oyinlola had approached the court to enforce his fundamental rights under Section 46(1) of the 1999, as amended. In his 28-point affidavit in support of his claims, the applicant alleged that the defendants violated his right contrary to the Order 2, rules 1 to 5 of enforcement procedure rules of 2009. The applicant, through his counsel, Mr Abiodun Bello, told the court that on March 30, about 3pm, the three naval ratings

came to his mother’s shop at Maraba to buy pieces of curtain but that after the curtain material was cut, they refused to pay while all pleas to make them pay yielded no result as they threatened to deal with whoever intervened. The applicant also claimed that he was dehu-

manised in the presence of co-shop owners and some of his property were taken away. According to the applicant, while the face-off lasted, the third respondent made a call and immediately four other officers came to the scene, who descended on him in the presence of other coshop owners and passersby. He claimed that his shop was robbed during the incident of his daily sales of N85,000, I-pad 3 valued at N145,000, Nokia phone valued at N17,500 and his mother’s phone worth N45,000 in addition to previous day’s sales of N92,000.

Deji of Akure gets staff of office Babatope Okeowo Akure

he new Deji of Akure, the Ondo State capital, Oba Aladetoyinbo Ogunlade Aladelusi, yesterday received staff of office with a pledge to unite all the warring factions to the throne. Aladelusi defeated 12 other aspirants to emerge as the next Deji to replace Oba Adebiyi Adesida who died almost two years ago. The monarch was presented with staff of office and instrument of appointment by the Deputy Governor, Alhaji Lasisi Oluboyo, who represented Governor Olusegun Mimiko at the ceremony held at the Governor’s Office yesterday. Oba Aladelusi, who adopted the name Odundun II, promised to encourage participatory traditional governance within the kingdom and her various component towns. The monarch said in the last 120 years, it had never been so stressful for kingmakers that 13 aspirants were contesting for the vacant stool of the Deji of Akure kingdom. He declared his determination to promote peace, respect for constituted authority and the traditional institution of the emerging millennium city. The new monarch warned that he would not condone thuggery, disrespect for law and order or any act of violence in the town. He added that the Deji traditional institution would be used as an important agent of meaningful development.

Metro 11

NEW TELEGRAPH WEDNESDAY,JUNE 10, 2015

Two injured in thugs’ clash Taiwo Jimoh

T Adeniji Adele Street

City Briefs Three undergraduates held for fraud Babatope Okeowo

Akure

olice in Ondo State have apprehended three undergraduates for internet fraud running into millions of naira The suspects, aged 22 and 23, are Wale Ayeni, Fisayo Adetoro, expelled students of the Federal University of Technology (FUTA) and Emmanuel Omole, who claimed to be a student of Joseph Ayo Balabola University (JABU), Ikeji-Arakeji in Osun State. The three suspects, who specialised in defrauding unsuspecting persons through online transactions, were arrested by policemen attached to Akure Area Command. The state Police Public Relations Officer (PPRO), Mr Wole Ogodo, said in a statement yesterday that detectives picked up the suspects at Ilesa Garage and Delta Hotel, both in Akure, using best professional tactics. Ogodo said the syndicate had sometime in April 2015, through online transaction, requested for six I-phones valued at N984,000 from one Kabir Ajiboye of No. 3, Oyekunle Street, Ajegunle, Lagos State.

Abductors demand N2m for Saipem’s worker’s freedom Igbeaku Orji Umuahia

bductors of an employee of an oil servicing company, Saipem Nigeria Limited, Anthony Abomah, in Abia State, have demanded a ransom of N2 million from his family. This was disclosed by the Public Relations Officer (PRO) of Saipem, Fubara Banigo. Saipem has its operations in the oilrich Owaza community in Ukwa West Local Government Area of state. Banigo said Abomah was kidnapped in the early hours of yesterday by gunmen while leaving his residential quarters for his office, adding that the kidnappers had already made calls to the family of their captive, demanding N2 million. The PRO, who said it was the first time an employee of the company was kidnapped, disclosed that Abomah is the company’s head of Document Control Centre. He expressed fear over the renewed activities of kidnappers in the oil rich community. Banigo also urged the government and the military to reconsider its stand on the rumoured plans to relocate the military base at Ukwa West Local Government Area of the state.

wo persons were yesterday injured at Adeniji Adele area of Lagos Island in Lagos State when some suspected supporters of the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) clashed. It was gathered that the crisis between the two groups started on Monday when the APC supporters who had attended the inauguration of the Lagos State House of Assembly allegedly started to attack their PDP counterparts. During the clash around 8am yesterday many traders

hurriedly locked their shops. The two victims, identified as Muritala and Shehu, were said to have been rushed to the Island General Hospital. The hoodlum, who defied the early morning downpour, also attacked passers-by and traders who they tagged as PDP supporters. A resident of the area, who spoke on the condition of anonymity, said after returning from the House of Assembly inauguration at Ikeja on Monday, the APC supporters started attacking their PDP counterparts. He said: “We believed the

supporters were done with what they did on Monday evening, only for us to see them at the Adeniji Adele bus stop attacking the traders and stealing our goods. “We want the Lagos State Government to put a final stop to the activities of these miscreants on the Island. Whenever they start fighting, we are always at the receiving end.” Another trader, Mr Akindele Jamiu, told our correspondent that they were sleeping when the gunshots of the two groups woke them up. He said: “Every trader on the Island was happy that the election is over; only

for us to hear the hoodlums’ gunshots in the early hours of today (yesterday). We are not safe; the government should come to our aid.” When our correspondent visited the area, some shops were still locked as some passers-by were made to raise their hands by the policemen from Adeniji Adele Police Division, who were on ground to prevent further break down of laws and order. Another trader, who identified himself simply as Ahmed, described the clash as a reprisal attack by the APC supporters who believed that they were now in power.

Edo workers protest non-payment of 32 months’ salary arrears Cajetan Mmuta Benin

ggrieved workers of the 18 local government areas in Edo State, under the umbrella of the Nigerian Union of Local Government Employees (NULGE), yesterday protested the non-payment of their two years and eight months’ salary arrears. The protesters wore black attires and carried placards with different inscriptions such as: “Our children are out of school,” “He that climbs and removes the ladder will definitely crash-land one day,” “Working without salary is man’s inhumanity to man,” etc.

Edo gov, Adams Oshiomhole

President of the union, Comrade Edward-Young Ilemikhena and the former state chairman of the Nigeria Labour Congress (NLC), Comrade Kaduna Eboigbodin, led the protesters to the state sec-

retariat of the Nigeria Union of Journalists (NUJ) and major streets and roads in Benin, the state capital. A cab driver, who gave his name as Mr Bright, was injured as the protest turned violent. He was said to have drove into the surging crowd on the Government House Road. The protesters reportedly smashed the windscreen of his Nissan car with registration number Edo DJ 841 BEN. But Ilemekhena accused the state government of colluding with the chairmen of 16 local government areas in the state to short-change the workers. He listed the indebted local

governments to include Oredo, Ikpoba-Okha, Egor, Ovia South-West, Ovia North-East, Orhionmwon, Uhunmwode, Igueben, Esan West, Etsako West, Akoko-Edo, Owan West and the Local Government Service Commission. Ilemikhena said the protest became necessary following the collapse of negotiations between the leaders of NULGE, the local government authorities and the state government. According to him, some of the workers have died in the struggle, pointing out that every Tuesday and Thursday have been set aside for state and senatorial protests or mass rallies, pending when their demands were met.

I almost committed suicide, says Jalingo gets potable water supply Iyana-Ipaja explosion victim Camillus Nnaji

ne of the victims of Iyana-Ipaja tanker explosion, which occurred on June 2, has disclosed that he almost committed suicide after it dawned on him that he had lost a whooping N25 million to the fire. The victim, Chinedu Obi, 34, said he changed his mind after he contemplated what would befall his wife and children as well as companies he owed if he died. Obi said that immediately he was called around 4am that fateful Tuesday that his shop was on fire, he fainted. He said: “When I was revived, I wanted to commit suicide. However, I had a second thought. I thought of what would befall my wife and two kids. I also thought of the several companies I owed money. “You can see my shop; all I had worked for in life is gone. Where am I going to start from now? I had just stocked my shop with goods worth over N25 million when this incident occurred. Most of these

are goods I ordered from companies. I’m supposed to pay them after I had sold the goods.” Obi sells pharmaceutical products as a patent vendor. He added: “I need the help of Lagos State Government. I voted for Governor Akinwumi Ambode. He should come to my rescue. They asked us to do enumeration with our document as shop owners, I have done all that.”

The burnt shop

On the fateful day, a tanker, laden with 33,000 litres of fuel, skidded off the Ipaja Bridge. There was an explosion, which resulted in the razing down of goods and property belonging to businessmen, landlords and traders at Iyana-Ipaja. About 21 vehicles, six tricycles, 44 shops and 30 houses were burnt while many residents, whose houses were badly affected, bemoaned their losses.

Sabiu Mustapha Jalingo

he residents of Jalingo, the Taraba State capital, woke up last week to see running taps, which dried up a few years ago. The provision of potable water was facilitated by the new Governor, Darius Ishaku. The Senior Special Assistant to the governor on Media and Publicity, Mr Sylvanus Giwa, said in a statement yesterday that adequate provision of potable water in every part of the state was the major aim of Ishaku’s administration. He said the governor’s concern was informed by the acute water scarcity in the town, which had forced residents to find alternatives in unsafe water sources. Giwa added that Ishaku had directed the overhaul of water plants and repairs of boreholes serving the state capital. He said: “The government is committed to providing essential services for Taraba citizens even in these early days of the administration. “Taraba citizens can look forward to speedy response to various pressing issues in the few coming weeks as the governor works round the clock to reactivate all dormant sectors.”

News

WEDNESDAY,JUNE 10, 2015 NEW TELEGRAPH

SOUTH-WEST

Aregbesola explains Osun unpaid workers’ salaries Adeolu Adeyemo Osogbo

sun State Governor, Ogbeni Rauf Aregbesola, yesterday said that, the challenge confronting his administration in the area of unpaid salaries should not be seen as opportunity to vilify his government or other states facing the same challenge. The governor said this in Osogbo when a non-

governmental organisation, Osun Action Strategy Development Group, paid him a courtesy visit, stating, “for those who think this is an opportunity to vilify us in this economic condition, I pity them. Only God does not fail”. “We shall overcome this ; we shall recover from this challenge. I sympathise and feel sorry for the workers. I appeal to them to bear with us as

we are working assiduously to end this problem. I assure them that the period of agony will soon be over,” Aregbesola said. He described as very painful the inability of some states to pay workers’ salaries, saying, it is disheartening for people to work and such work fails to translate into wages. Aregbesola described the situation as an economic tragedy and attrib-

uted the current misfortune to gross mishandling of the nation’s economy by the last regime of the Peoples Democratic Party (PDP). “In our circumstance, what is available to us as allocation is less than what is needed to meet our statutory obligations, however prudent we have been. He stated that no state had done what Osun did in the area of security,

which today has totally checked crimes and other anti-social activities in the state. He also stated that huge amount of money was committed to purchasing armoured personnel carrier (APC) and ambulances, which were strategically located in the state and responding to distress calls round the clock. He stressed that if all the programmes with the

huge cost involved were factored into the accruable revenue to the state, it will be crystal clear why the state was where it is today. He pointed out that in February 2013, when the state collected N5 billion as monthly allocation and April this year when it collected N540m, allocation had fallen drastically to less than 10 per cent, saying this was the dilemma of the state.

Ekiti Assembly threatens sanction against APC over comment Adesina Wahab Ado-Ekiti

Ondo State Deputy Governor, Alhaji Lasisi Oluboyo (right), presenting the staff of office to the new Deji of Akure, Oba Aladetoyinbo Ogunlade Aladelusi Odundun II, at the Governor’s Office, Akure…yesterday

PDP lawmakers urged to block anti-people bills Kunle Olayeni Abeokuta

he Peoples Democratic Party (PDP) governorship candidate in Ogun State, Prince Gboyega Isiaka, has urged legislators elected on the party’s platform to oppose bills considered to be promoting selfish agenda. Isiaka said bills considered as anti-people and aimed at promoting personal interests would be at variance with the inter-

est of the PDP and must therefore be blocked. He spoke at the PDP state secretariat in Abeokuta, while hosting nine members of the party elected into the state House of Assembly. The PDP lawmakers include Wale Alausa, Jemili Akingbade, Bowale Solaja, Oyenuga Olufowobi, Jimi Otukoya, Adebowale Ojo, Sesan Soyebo, Rasaq Oduntan and Folakemi Akintayo. According to Isiaka, the PDP legislators as opposition party members should always promote

issues that border on the welfare of the people. He said, “The opportunity to serve your constituencies is a call to service. You must see yourselves as eyes and ears of the people to better their lot. Any bill that seeks to promote the interest and wellbeing of our people should be wholeheartedly supported by all. Isiaka, who described the loss of the PDP at the last elections as temporary setback, declared that the party would wax stronger and bounce back ahead of the 2019 general

Fayose directs LG bosses to prioritise ‘stomach infrastructure’ Adesina Wahab Ado-Ekiti

kiti State Governor, Ayo Fayose, yesterday inaugurated the new caretaker chairmen for the 16 local government areas of the state, with a call on them to replicate his ‘stomach infrastructure’ programme at the grassroots. The state House of Assembly had last Friday acceded to Fayose’s request to dissolve the councils and reconstitute another, following the end of the manda-

tory six months stipulated by the constitution for the chairmen. A letter dated June 5 and addressed to the Speaker, Rt. Hon Kola Oluwawole, had sought the Assembly’s consent for the reconstitution of the caretaker committees in consonance with the State Local Government Transition Law No 4 of 2002. It was observed that virtually all the former council bosses were returned except the former caretaker chairman for Oye Local Government, who was dropped and replaced with Mr. Oluwole Paul.

Represented by the Deputy Governor, Dr. Kolapo Olusola, the governor charged the caretaker chairmen to bring their experiences to bear in the running of the LGs, in order to hasten rapid development at the grass roots. He said: “You, are appointed based on your proven integrity both in private and public offices. I want you to bring your experience to bear in the service of the people by engineering rapid transformation and development at the grass roots, nothing than the best is expected of you.”

elections. He, however, warned the PDP members in the state against fanning the embers of discord, especially among the party leaders. Earlier in his remarks, the PDP state chairman, Chief Adebayo Dayo, urged the lawmakers and the generality of party members to remain loyal to the party. He assured party members that the PDP would reclaim its governorship mandate and win the case instituted at the election petitions tribunal.

he Ekiti State House of Assembly is set to impose sanctions on the State Publicity Secretary of the All Progressives Congress (APC), Taiwo Olatubosun, over uncomplimentary remarks he made against members of the House. Olatubosun was the Deputy Speaker of the House from 2003 to 2007, during the first term of Governor Ayo Fayose. He incurred the wrath of members of the 5th Assembly on Sunday, when he issued a statement on behalf of his party casting aspersions on the personality of the lawmakers. He said the Assembly was made up of miscreants and people not fit to be lawmakers. At its maiden press con-

LASU to refund N162m excess school fees to students Kayode Olanrewaju

he management of the Lagos State University (LASU), Ojo, Lagos, has said that students who we are yet to receive the refund of their tuition fee increment , are to receive it before Friday June 12

‘Strange spirit’ behind Lagos tanker fire, says traditionalist Taiwo Jimoh

he President of African Traditional Religion of Nigeria (ATREN), High Chief Ifasegun Elegushi , has attributed the cause of the spate of fuel tanker explosions in Lagos to influence of some strange spiritual powers within the state. Speaking with Journalists yesterday in Lagos, Elegushi, warned the state government not to peceive the incident as mere accidental occurrences. He urged the Governor Akinwunmi Ambode, to

ference in Ado-Ekiti yesterday, the spokesman for the Assembly, Hon Gboyega Aribisogan, described the statement by Olatubosun, as disappointing and embarrassing considering the fact that the APC spokesman was a former member of the Assembly and ought not to have done anything to dent the image of the House. Aribisogan said the present 5th Assembly was composed of professionals who had made their marks before venturing into active politics. Two members of the House Hons. Sina Animashaun and Samuel Omotosho, also said that they owe the APC no apology for their loyalty to governor Fayose, who they said was instrumental to their present positions. They said they benefited from Fayose’s political benevolence.

organise a special prayer session to be performed by clerics from the Christian, Islamic and traditional religions to halt the trend from further occurrence. The traditionalist, who holds the title, Opemoluwa of Ikateland, said the prayer session should be held urgently to appease the gods to avoid future occurrence. He implored Ambode, not to ignore his call, stating that the fact that the explosion happened at the commencement of his government was enough sign for him to act fast.

The university, in a statement, said the Lagos State Government, has approved the release of N162.5 million as the balance of the refund. The state government had a few months ago reviewed downward tuition fees to be paid by students and directed that the university authority would refund the excess payment to them. To fulfill its promise, the Babatunde Fashola-led administration, commenced the initial refund of N209 million that was disbursed to the first batch of the students. The statement read in part: “The Lagos State has approved the release of outstanding payment of N162, 500, 000 being the balance for the refund of excess school fees (with the reversal of the old regime of fees) to the students of LASU. The university management commended the state government for fulfilling its promise to refund the excess fees to the students, while it also thanked the students as well as parents for their patience and understanding.

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

National Assembly

Governance

Power tussle

Kaduna

The big losers

Why Osun is in financial difficulty, by Aregbesola

How Saraki outsmarted APC

How Emir was stoned at el-Rufaiâ&#x20AC;&#x2122;s inauguration

Politics Saraki

Dogara

Tambuwal

Tambuwalisation of APC Onwuka Nzeshi Abuja

n a dramatic political twist, history repeated itself doubly, in the National Assembly yesterday as the All Progressives Congress (APC), the majority political party in the parliament, lost the bid to make its preferred candidates the presiding officers in the two chambers of the parliament. Senator Bukola Saraki, a member of the All Progressives Congress (APC) and a ranking member of the Senate defied the directive of his party not to contest the office of the Senate President of the 8th National Assembly. Saraki, a former Governor of Kwara State did not only contest the election, he cruised to victory without a challenge. The APC had last weekend held a mock election where its favourite candidate for the position, Sena-

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

ÂŠ Daily Telegraph Publishing Company Limited

tor Ahmed Lawan ( APC/Yobe) emerged as the consensus choice. The preliminary election was seen in some circles as a ploy by the party to force Lawan on the parliamentarians and short circuit the robust democratic processes laid down for the election of presiding officers in the National Assembly. The high hurdle erected to stop him crumbled when some of his colleagues elected on the platform of the APC opted to converge at the International Conference Centre (ICC) for a meeting. They were to meet with President Muhammadu Buhari and other leaders of their party to firm up their strategies before proceeding to the National Assembly for the election. While still waiting for Buhari and other party chieftains to give them final directives on who they should support, some of their colleagues went into the hallowed chambers of the Senate and elected Saraki as Senate President and Chairman of the National Assembly. In the House of Representatives, it was a keen contest for the position of Speaker. Like in the upper chamber (Senate), the legislators elected on the platform of the APC were polarised because the party had also shown preference for one of the candidates. The mock election conducted by the leadership of the party produced Hon. Femi Gbajabiamila (APC/ Lagos), a ranking legislator from Lags State, SouthWest geo-political zone. Although Gbajabiamia had been the face of the opposition in the

Tinubu played a leading role in the subterfuge that gave rise to the emergence of Tambuwal as Speaker

lower chamber of the parliament in the last four years, his ambition was interpreted by many as an attempt by an external force to install a puppet in the legislature. Gbajabiamila, though an accomplished parliamentarian, is a known acolyte of the National Leader of the APC, Asiwaju Bola Tinubu, whom many legislators feared, was pulling the strings behind the scene. It was this mindset that gave rise to the candidature of Hon. Yakubu Dogara, a member of the APC from Bauchi State. Dogara who is also a ranking member of the parliament campaigned on the basis of maintaining the independence of the legislature. Like Gbajabiamila, Dogara is a lawyer and also not a stranger to the political intrigues in the parliament. In the face of threats and intimidation from his party, Dogara braved the odds to contest. He won with 182 votes to defeat Gbajabiamila, the official candidate of the party who scored 174 votes. Flashback It was four years ago when the PDP then, the majority party in the parliament, presented an anointed candidate for the office of the Speaker of the House of Representatives. Although the PDP did not go through the rigours of a mock election, its open endorsement of Hon. Mulikat Akande-Adeola created so much rift in the party as some legislators saw it not only as an interference but a clear affront on the independence of the

legislature. A few days to the election, a lot of intrigues played out as the PDP was divided between those who wanted the position of Speaker to be zoned to the South-West as directed by the majority party and those who preferred the seat be left open for the swiftest legislator to grab. As it played out yesterday, the ruling party had threatened that it would bare its fangs if any of its members chose to go against the will of the party. But this threat only emboldened some recalcitrant members who had made up their minds to rebel against their party. Hon. Aminu Waziri Tambuwal, then a ranking member of the PDP from Sokoto State sneaked his way through the security barricade thrown around the parliament to trap him and presented himself for election rather than backing the official candidate of his party. In the full glare of chieftains of the majority party, Tambuwal won a landslide victory, scoring 252 votes to defeat his only rival and official party candidate, Hon. Mulikat Akande-Adeola (PDP/Oyo) who scored only 90 votes. Lesson It is often said that history repeats itself because over the ages, man has refused to learn from history. Tinubu played a leading role in the subterfuge that gave rise to the emergence of Tambuwal CONTINUED ON PAGE 42

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

NEW TELEGRAPH wednesday, june 10, 2015

16 Politics WALE ELEGBEDE writes on the big losers of yesterday’s election in the National Assembly Bola Tinubu: Cut to size The former governor of Lagos State is a major factor in the impasse and he was perhaps the biggest promoter of Senator Ahmed Lawan. With his influence, clout and political network, it is unfathomable to imagine that the godfather of South-West politics will lose out ‘cheaply’ in the National Assembly election. After successfully plotting the emergence of General Muhammadu Buhari as the All Progressives Congress (APC) presidential candidate last year, the Jagaban as he is fondly called rallied support for Buhari and the party muscled out the Peoples Democratic Party (PDP) in the South-West at the behest of Tinubu during the presidential election. As a former Senator, Tinubu knows the intricacies involved in the selection of principal officers of the National Assembly but he must have relied on his ‘working strategy’ to work for him again. In fact, he was said to have relocated to Abuja prior to the inauguration of the Assembly yesterday to mobilise support for his anointed candidates, Lawan in the Senate and Femi Gbajabiamila in the House of Representatives. With the defeat of Lawan and Gbajabiamila and the emergence of Senator Bukola Saraki and Hon. Dogara, it appears that the strongman of Lagos politics may have been caged in the national politics. Already, some analysts have insinuated that yesterday’s revolt by APC lawmakers was specifically targeted at Tinubu and not the party per se. They averred that the overbearing influence of Tinubu should be limited to Lagos and South-West. Clearly, the events of yesterday depict the demystification of the Lion of Bourdillion and he may have been cut to size in the scheme of things at the national level. However, like a cat with nine lives, Tinubu would always bounce back but the big question is when. Odigie-Oyegun: On Tinubu’s apron The National Chairman of the APC was directly involved in the scheme of things in the National Assembly. His stand became obvious when the party organised a mock election for its aspirants in the National Assembly election. Regarded as a strong ally of Tinubu, his stance on who becomes the Senate President and Speaker of the House of Representatives could be linked to the choice of the former Lagos governor. Speaking prior to yesterday’s election, Oyegun urged lawmakers aspiring for offices on the platform of the party to respect the rules of the party, stating that “the party’s views and method of doing things should be respected. All we did was to provide the platform. I want to appeal to APC members of the National Assembly, both Senate and the House of Representatives, to please respect the party, the views of the party and the decision that they themselves took in selecting the persons that will be presented to the National Assembly as presid-

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

The big losers

Tinubu

Odigie-Oyegun

Lawan

Akume

Gbajabiamila

Ndume

ing officers. “At the House of Representatives level, Hon. Femi Gbajabiamila and at the Senate level, distinguished Senator Ahmed Lawan.” However, the emerging forces from Oyegun’s party made a mince of the chairman’s anointed team. Although some averred that Oyegun was only doing the bidding of Tinubu because he has no choice, others believe that the decision of the chairman to get the party involved in the politics of the National Assembly by organising a mock election was the beginning of the party’s humiliation under the watch of Oyegun. Though the APC and Oyegun can still take consolation in the fact that the leaders that emerged in the National Assembly are still members of the party, it’s obvious that the strides and influence of

Oyegun may have been deflated in some portions. Femi Gbajabiamila But for the outcome of yesterday’s election in the House of Representatives, the former Minority Leader of the House would have been leading the Green Chamber in the newly inaugurated 8th Assembly. There is no doubting his competence, in fact, his rich experience in legislative practice was brought to bear in stabilising the outgone Seventh Assembly. The 54-year-old lawyer was riding on the back of Tinubu for the coveted seat but that actually cost him the position. Last weekend, Gbajabiamila was adopted as APC’s candidate for the speakership seat after polling 154 votes to Dogara’s three in a straw election organised in Abuja

by the APC leadership. With the backing of the APC structure and his political godfather, Tinubu, the coast seems clear for his emergence. However, at the end of the election conducted in the House of Representatives chamber, Dogara scored 182 votes while Gbajabiamila polled 174. While many have adduced his loss to Tinubu, others believe that his next move would be determined in the days to come. Ali Ndume: Traded off for PDP His aspiration for the Deputy Senate President seat appeared unpopular over issues hanging on his neck in the past few years. At the initial stage of strategising, the group drumming support for the candidature of Saraki, “Like Mind Senators” endorsed Ndume to run as Saraki’s deputy. Ndume, who hails from Borno State, is among the 35 APC senators that endorsed Saraki as Senate President. Prior to his choice as Deputy Senate President, Ndume was a contender for the post of the Senate President but after various negotiations, he dropped his ambition for a Saraki/Ndume ticket. However, in the thick of the horse trading that ensued towards the election, the proposed designation of Ndume was traded off for the PDP and Senator Ike Ekweremadu got the coveted seat. After the election, Ekweremadu emerged as the Deputy Senate President with 54 votes, defeating Ndume who got 20 votes while one senator abstained. Senator Ndume immediately embraced his opponent in an open show of conceding defeat. Ahmed Lawan: Lost bid for Presidency His first shot at the Senate Presidency suffered a setback with his loss to Senate President Bukola Saraki. He became the choice of the APC for the seat after Tinubu withdrew his support from Akume to back him. Alongside his supporters, Lawan was absent at the Senate chambers when the election of the Senate President was conducted. With Saraki nomination going unopposed, the Kwara-Central senator emerged unopposed as President of the eighth Senate by 57 of 108 Senators, with 51 Senators, including Lawan, absent. With the tide turned against him and the APC, Lawan, who has been in the National Assembly since 1999, it is only left to be seen how Lawan will fit himself in the scheme of things in the Red Chamber. George Akume Another major loser in the contest for leadership of the Red Chamber was Senator Akume, the immediate past Senate Minority Leader. He was tipped by the leadership of the APC for the position of the Deputy Senate President in the eighth National Assembly but the ambition did not see the light of the day. Ekweremadu got the seat. Prior to yesterday’s inauguration of the Senate, Lawan and Akume had, during APC mock election, emerged as the party’s candidates for the office of Senate President and Deputy Senate President respectively, but both ambitions hit the rock.

Politics 17

NEW TELEGRAPH WEDNESDAY, JUNE 3, 2015

Governor Rauf Aregbesola at the inauguration of the Sixth Osun State House of Assembly on June 2, gave an insight into the financial challenges of the state

Why Osun is in financial difficulty, by Aregbesola

t gives me great pleasure to declare open the Sixth State Assembly of Osun. Exactly four years ago, I had the privilege of inaugurating the Fifth Assembly. It has pleased God Almighty to entrust into my hand for the second time this sacred duty and I give Him all the praise. I congratulate all the honourable members of this House for your election and the unique privilege to be of service to your people and the State of Osun. But I must first thank the Speaker of the Fifth Assembly, Rt. Hon Najeem Salaam, the leadership and other distinguished and honourable members of the house for their understanding, diligence, cooperation and unalloyed service to their people and the state. Your inauguration came at a very critical period in the annals of our state. This is a paradox of a sort. The general elections of March 28 and April 11 were a revolution as they, for the first time, saw a genuinely progressive government sweep through the country in most states and the Federal Government. This is a thing of great joy to us, but it also met our state in the condition of a very gripping financial challenge. Here again, I must salute and thank our people for their unshakable faith in us and for giving us absolute majority in this House. Your election (and inauguration today) is a resounding vote of confidence in us that we will surmount our challenges and overcome our problems. You cannot disappoint them. History will vindicate us. When our administration was inaugurated over four years ago, we met many daunting challenges, including a debt burden and infrastructure decay. We set to work, especially with the cooperation of the Fifth Assembly, and began to restore hope for our people, make government meaningful and put the state on a sound and sure footing. You will recall that in less than 100 days, we engaged 20,000 youths in public works through Osun Youth Empowerment Scheme (OYES). Also, through financial engineering, we were able to restructure the debilitating loan we met and put the state on a sound financial traction. We then embarked on an aggressive infrastructure development drive never witnessed before in this state. You will recall again, that for nearly a year, we did not constitute a cabinet. This was to enable us make considerable savings. We set about our duty with uncommon vigour and courage. This saw us touching every area of life in education, agriculture, job creation, road construction, culture and tourism, environmental sanitation and beautification, flood control, rural development

Aregbesola

and so on. We were also able to execute the most ambitious and biggest social welfare programme in this country; programmes that impacted directly on every family and household in the state. We were able to integrate government’s spending into the local economy in a way that our spending reflates the economy – enhances productivity, creates jobs, sustains families and households and significantly boost the GDP of the state. These social welfare programmes also constitute a sizeable portion of our recurrent expenditure as we put in place O’YES, O’UNIFORM, O’MEALS, Agba Osun, Destitute Rehabilitation, O’REAP, O’HUB, Cattle Ranch, School Construction, Flood Control and so on. We have invested in our people’s development and have sown good seeds into their today and tomorrow. In the process, we not only lived within our means, we also made huge savings in two and a half years. We fulfilled our financial obligations to not just to workers and retirees, but to every person doing business with us. When it was time to raise the level of capital projects in the state, we approached financial institutions and within the bounds of best practices, we secured facilities at favourable terms. We never exposed the government unnecessarily. This is contrary to the claims of scoffers and traducers who maliciously painted us as financially reckless and profligate. From the records, problem began in 2012 when our expenditure increased as a result of the spike in minimum wage. This was when we applied the increase to junior workers only. Then, our total emoluments rose to N2.7 billion from the N1.4 bil-

We met many daunting challenges, including a debt burden and infrastructure decay

lion I met in November 2010. By December of that year, it hit N3.5 billion. At the same period, our statutory allocation (from where we are required to pay salaries) increased marginally from N2.1 billion in 2010 to N2.5 billion in December 2012. By July of 2013, our total emoluments hit N4 billion while our statutory allocation was N2.1 billion. By then we had extended the increase to other workers. The summary of five years reveal that in the two months of 2010, we received a net allocation of N4.2 billion and paid a total emoluments of N3.6 billion. This left us with a net gain of N573 million from our statutory allocation. In 2011 also, we got N29.9 billion net statutory allocation and spent N25.8 billion on emoluments with a net gain of N4 billion. However, in 2012, we got N28.4 billion and expended N31.6 billion on emoluments. This left us, for the first time, with a deficit of N3.2 billion. The following year, 2013, our statutory allocation had dropped to N26.4 billion while our emoluments rose to N36.9 billion. This gave us a whopping N10.4 billion deficit. In 2014, our statutory allocation fell further to N19.3 billion and by which time we were already defaulting on some of our obligations on emoluments, which had also dropped to N22.4 billion, but still left us with a deficit of N3 billion. In summary, between November 2010 and December 2014, we got a total statutory allocation of N108.3 billion and our expenditure on emoluments was N120.4 billion. It left us with a total deficit of N12 billion. The above scenario only covers our expenditure on salaries and other emoluments, if we are to include other recurrent expenditure, it will give us another sce-

nario. In the period under review, our total recurrent expenditure was N206 billion while our statutory allocation was N108.3 billion. If we add other accruals from Abuja to our income, it will only add up to N176.5 billion and we will still be left with a deficit of almost N30 billion, which means that the state would not have been able to run government. Even when we add our internally generated revenue, we were still only able to muster N204 billion and still short by N2 billion. It simply means that all our earning from all sources between 2010 and 2014 could not carry our recurrent expenditure. The drop in statutory allocation in 2013 was attributed to theft of over 400,000 barrels of crude daily but later, the fall in oil price from over $100 to about $50 per barrel only compounded the crisis. In 2015, the net statutory allocation in January was N1.25 billion, in February, it was N1.12 billion, in March, it dropped scandalously to N624 million while April figure dropped further to N466 million. As I said earlier, our statutory allocation began a precipitous fall in 2013 while our salaries and emoluments began a steady climb. The contrasting state of our allocation from the federation account is highlighted by the peak of our allocation of N5 billion we received in February 2013 against the N466 million we just received for April. These details will put a lie to the accusation that we were profligate. How could we have been profligate when our statutory allocation alone cannot meet our obligations on salaries and other emoluments? The financial challenge we faced was enormous and daunting and a disaster was mitigated by our prudent management and sheer financial wizardry that made us to get so much from so little. It could have been worse. We should see the cup as half full, instead of half empty. Another factor that raised our emoluments expenditure was our commitment to pensions. When we began in November 2010, we were paying N200 million pension monthly and so for 2010, we committed N400 million. However, in 2011, we increased our monthly pension obligation to N250 million and we had to pay N3 billion in that year. By March of 2012 our pension obligation has risen to N300 million monthly which cost us N3.5 billion for that year. But in December 2012, about 5,000 retirees were added to the 9,000 strong army of pensioners in the state and in the following year, 2013, we increased our monthly pension bill to N520 million and paid out N5 billion in that year. That same year, another set of 3,500 workers CONTINUED ON PAGE 40

MORE STORIES ON pageS 40-43

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Opinion No politician is worth your blood Ugochukwu Ejinkeonye

uring the governorship and states’ houses of assembly elections that took place in Nigeria on Saturday, April 11, 2015, several persons reportedly died across the country. And a day after the elections, there were also reports of raging battles in a couple of states. Although, it was difficult to ascertain the extent of casualties recorded after the smoke of that clearly senseless war had cleared, what cannot be denied is that some other people may have also foolishly wasted their lives like some others before them. Now, apart from any hapless individual “accidentally discharged” by some habitually reckless and trigger-happy cop or someone caught in the crossfire as rival political groups clashed and unleashed violence on each other, all the others killed during this election while fighting “political wars” died for nothing. They died for nothing because they counted themselves as nothing, hence they could waste their precious lives fighting for mostly common thieves or glorified thugs striving to become governors or “honourable” members of the house of assembly so that they can plunder the resources of the state and cart away as much loot as they can before their tenure expires. What beats me is how a human being could devalue his life so much that he could expose that life to serious danger by agreeing to undertake a violent activity on behalf of someone who may not even be informed if he is killed – someone who does not even know him or care whether he lives or dies. Sometimes, all it takes to motivate these misguided combatants would just be a few crumpled naira notes, some bottles of beer or gin and poorly produced Tshirts bearing the faces of the fellows who they have been hired to fight and die for. Most of the time, he does not even have the slightest contact with these his “ardent supporters.” Or if he does, it may just be to come out in front of his

house or step out of his luxury car at some other place to address and charge them to be prepared to lay down their lives to ensure that only the “credible candidate” (himself) wins the election “for the good of the state”. Meanwhile, he had taken care to ensure that his wife and children are far removed from the theatre of battle where he is urging some deluded Nigerians to shed their blood to secure for him and his family a life of limitless luxury. He would only bring them back to join him to wallow in boundless comfort when the battle is won – after some fools had died and gone to hell while fighting to ensure he was rigged into office. Of course, we know that whenever Nigerian politicians threaten that blood would flow, what they always have in mind is not their own blood or that of their children and wives. Even their distant relations and friends do not figure in their calculations. What they have in mind is the blood of grossly impoverished Nigerians (people totally unfamiliar and unrelated to them) whom they believe they would always be able to easily brainwash and deceive with dirty naira notes to unleash violence and sometimes waste their lives. And only a thorough fool will allow himself to be deceived. Indeed, it is time these Nigerians realized that they have been fooled and debased for so long now. It is time they placed great value on their lives and nudge themselves into the edifying awareness that these politicians that move them into the streets are in no way superior to them. In fact, they may even possess more dignity and even better intelligence than those politicians they are worshipping and dying for. When the Chairman of the Independent National Electoral Commission (INEC), Attahiru Jega said that Muhammadu Buhari of the All Progressive Congress (APC) had won the presidential election, it was reported that not less than 25 people died and several others were wounded while madly celebrating the announcement. Like many others before them, these, too, died for nothing. As they ran about and

indulged in several life-threatening displays, some of them fell off motorcycles and cars where they had perched carelessly chanting the name of a man who is not even aware of their miserable existence or would even see, let alone, mourn, their corpses after they have foolishly wasted their lives. Some others were crushed by vehicles that rammed into them as the wild reveling was stretched to very dangerous extremes. But as these fellows of very low self-esteem rejoiced themselves to death, the man whose accomplishment they were wildly celebrating was in his comfortable house in Daura calmly savouring the joy of his sudden elevation and transformation and surrounded by his family, and, perhaps, new fat leeches who were busy negotiating themselves into the corridors of power from where they would, like their predecessors, suck Nigeria pale. And it is possible that only a few hours earlier, those same people were lying prostrate at the feet of President Goodluck Jonathan licking his feet. That is the enduring character of Nigerian politics and politicians. Now, despite all I have said here now, some fellows will still elect to die for nothing in 2019 or during some of the governorship elections that would come before then. But if they are wise, they would choose not to. Indeed, it is within their power to decide to avoid this grossly unprofitable game of death. They can boldly tell any politician threatening that blood would flow not to count on them to help him accomplish that. He should instead start with his own blood and that of his wife and children. Yes, these Nigerians can refuse to be the ones to die for nothing. By the way, who is this noisy politician urging you to die for him? When stripped of all the pomp and flowing gown, he may just be another scum out there merely looking for a meal ticket. And that is bitterest part of it. • Ejinkeonye is a Lagos-based public intellectual (scruples2@hotmail.com; 08028833853)

Fayemi: A governor they all love to hate Samuel Bandele Falegan

had cause to read the contrived attacks of a “triumvirate” of the likes of Segun Ayobolu, Segun Adedeji and one Jide Adamolekun that came up in succession in the news media recently, all attacking Dr. Kayode Fayemi in an unkind manner in order to destroy him from being made a Minister under the Buhari administration. I know it is a conspiracy but pray that one day those behind it will regret their actions. To quote some destructive comments from them such as “worthless, of no electoral advantage vindictive, etc” will be mere repetition and paper wasting. Gentlemen, why are you in your concerted and hateful efforts and writings all coming together at this time to make sure that he plays no role under the Buhari administration? Envy, jealousy, hatred, conspiracy all rapped together because of some sponsors? Inordinate ambition and bad blood. You may or you may succeed in your determination to destroy Fayemi. He has already made his mark in the art of governance in Ekiti. He has gone further to create a nitch for himself in conducting the best organized and well conducted APC Congress which saw the emergence of General Buhari that led to the latter being elected as a president, thus, leading into a revolutionary change most unexpected in Nigeria’s political history. It is this hate-fear of

him being made a Minister that your collective conspiracy has led to your article of hatred. What a sad reflection on conspirators who now use their ulterior motive to blame Kayode Fayemi for the loss of the June 2014 election and the recently concluded Ekiti State House of Assembly election. You deliberated played down on the rigging machinery of Federal authority which has now rebounded on the perpetrators especially on ex-President Goodluck Jonathan, who if he has conscience should admit guilt of employing falsehood and blackmail to deliberately impose Fayose on us in Ekiti. If you pretend not to know I will expose two instruments of conspiracy which you try to play down. There are two element of the anti-Yoruba conspiracy that are interwovenly executed both taking and admission of Civil-cum – Military forms, but were actively promoted and supported by Jonathan. The irony of the conspiracy is that a non-Yoruba son (indeed from President Jonathan’s home state), in his commitment to national interest, exposed this plot while two Yoruba’s, Dr. Doyin Okupe and Dr. Reuben Abati implicitly supported the internally Yoruba-sponsored plot by their silence. The two elements are as follows: 1. The Eastern Nigeria – Anti Yoruba (West) Plot. The summary of the plot is that the East in its hatred for the Yoruba race felt that only the North and

the East suffered physical destruction under civil war. It is therefore their turn to make sure that the Yoruba suffer destruction. This plot was exposed through (Col) OmotNgene of the `creek army; in his 16 page diary of Monday 21st July, 2014 under two parts. The important aspects are quoted from Col. OmotNgene. Part 1: The Vampires’ Pact: Uba brothers and Ekiti/Osun State Election Contracts. “So how many sons and daughters of Ekiti and Osun State know that the June 21,2014 Governorship Election in Ekiti and the coming Osun State Governorship Election were contracted to Chief Chris Uba by the President Goodluck Jonathan and the PDP to deliver as electoral victory to PDP? The Vampire Part 2: Revisionism as my cause for Defection. This led to the full-scale military operation under Brig. General Aliyu Momoh in Ekiti State as discussed later. “At incipient of the Amnesty programme when it began to claim credibility for irreversible commitment of the administration of President Yar’dua- may Allah (as mark of recognition and respect for his religion) grant him paradise eternity – signs of ethnic discrimination from Ijaw axis against other ethnic component arms of the NDM. The perniciously affected more were those from the Akoko-Edo/Ilaje axis of Edo/Ondo State conurbation.

With keen sense of diligence to the list of potential beneficiaries, Yar’dua queried it twice and his interests in that ethnic balance percolated down for the minority to feel substantially. Indeed, how he perceived the acts of injustice I could not say, but he detected it and called for remedy. Evidence I personally accessed pointed to the office of his Vice President as the manipulator of those lists. After the demise of Yar’dua and Jonathan became officially in charge, the injustice resumed in the later stages of the Amnesty implementation. But in a pretention balance of justice, the purported Edo/Ondo share for the 2010 was skewed, with impunity, in favour of Edo States. 2. The second evidence is what is called EKITIGATE made up of both audio and video recordings of direct military operation involving Brigadier Aliyu Momoh and Capt. Sagri Koli intelligence officer to Momoh. Therefore you see naked display of impunity, heartlessness, arrogance, abuse and misuse of power and man’s inhumanity to man. You can see how a whole Brigadier General who is supposed to use office and position to protect the nation, used his power to compromise the trust imposed on him. • Falegan is a former Managing Director of Federal Mortgage Bank of Nigeria.

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The assault by Amnesty

common African proverb says that if the owl howled in the night and, in the morning, a calamity befalls within the radius, it becomes absolutely difficult, if not impossible, to absolve it of blame or complicity. Before now, there was a substantive doomsday prediction that the largest black democracy may not survive the rigours of electioneering for the last general elections in the country. This fear of disintegration was heightened and intensified by a report which the United States State Department reportedly issued, warning of a possible political cataclysm which was predicated on rancourous general elections in the country. But against all expectations and in spite of the fact that the elections, which were driven by rancorous propaganda, not only held successfully, a civilian-to-civilian transition was seamlessly achieved. As a matter of fact, this seamless transmission is what is driving international acclamation for the former president, Dr Goodluck Jonathan as eminently qualified for a Nobel Peace Prize for being, perhaps, the first African leader to have voluntarily conceded victory in an election. His example, which has been commended worldwide, nar-

rowly pulled the country from the brink of possible political disaster which would have been triggered by any contest of the election results. As attested to by President Muhammadu Buhari, that singular action by Jonathan to call the victor and voluntarily concede defeat, thus under-cutting desperadoes who plotted to manipulate crisis to create chaos which, he said, would definitely have consumed the country. Certainly, Nigeria owes Dr Jonathan a debt of gratitude for that singular act of political maturity and foresight. This huge sense of gratitude has been re-inforced by sensational allegations that having failed to manipulate crisis from the expected residual angst from the elections, a subsisting international conspiracy against the country resorted to manipulating the human rights watchdog, Amnesty International, to sponsor wild allegations against the Nigerian military in its fight against insurgency. According to this argument, the expectation was that the country would not survive the rigours of the elections but having done so without possibility of disintegration, the conspiracy was stepped up, even widened, to exploit the instrumentality of hitherto credible platforms like Amnesty to legitimize a travesty which is

what the hare-brained assault on the military amounts to. ‘They had thought that the country would not survive the 2015 elections or be able to manage the likely crisis that would result therefrom’, a source close to the alleged conspiracy said. Adding, the source said: ‘But they (alleged sponsors of the conspiracy), were surprised at the way the general elections was resolved without any crisis.’ According to the source, the United States particularly, for example, had been very vocal in its criticism of the country’s military campaign against Boko Haram since the insurgents began their indiscriminate attacks against the country. ‘When the terrorists were killing innocent civilians and destroying communities, Amnesty International did not issue any threat or complaint against the terrorists, except when the Nigerian military decided to fight back’, the source who is deeply-rooted in the intelligence community said. According to him, such unwarranted attacks on the country’s military usually came whenever the military was making a head-way or pushed back the terrorists into the defensive. ‘You can recall that it was when the country wanted to buy arms from the U.S. to fight the randy Boko Haram terror-

ists that Amnesty International released its so-called damning report, accusing the military of human rights abuse. The U.S. consequently turned Nigeria’s request to buy arms from it down, citing Amnesty’s allegations as reason for its refusal’, the source further said. The latest report stepping up allegations of rights abuse against the military, the source further claimed, was coming on the heels of the promise made by the countries to support President Buhari when he met with the Prime Minister of the U.K., Mr David Cameron and U.S. representatives in London shortly before his inauguration. Citing an exclusive newspaper publication last Sunday that President Buhari successfully met with the British Prime Minister and was promised assistance ahead of the G7 Summit, the source querried the timing of the latest report by Amnesty which was targeted to cause Nigeria maximum diplomatic embarrassmentduring the G7 summit where the country expected further expressions of assistance by the international community. The timing of the latest report by Amnesty, most regrettably, was to ridicule the country and blackmail President Buhari in order to discourage him from his resolve to re-assert the country’s sovereignty which is seriously threatened.

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Arts Towards Africa’s development

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Book Review

n the sidelines of the World Economic Forum Africa meeting in Cape Town on June 3 to 5, 2015, two of Africa’s most prominent foundations – the Nigeria-based Tony Elumelu Foundation and the Oppenheimer family’s Brenthurst Foundation of South Africa – launched a new book titled Africans Investing in Africa. The 338-page book which covers a range of important topics critical to Africa’s development, provides a unique perspective on how Africans are leading the way through intra-African trade and investment; documenting how, where and why Africans invest across the continent. The book also identifies the economic, political and social experiences that hinder or stimulate investment, and highlights examples of pan-African companies and investors. Africans Investing in Africa is the outcome of a project conceived in 2011 by the two foundations, and builds on a paper published by their respective principals – Tony O. Elumelu, CON, and Jonathan Oppenheimer – in which they first explored the depth and breadth with which African companies were expanding across the continent and contributing to Africa’s growth. The foundations, have established records of scholarship and policy advice on issues impacting Africa’s economic growth and development. Together, they conducted in-depth, case study-based research into why many African-owned and/or Africanbased companies were still struggling to succeed across multiple geographies on the continent, despite Africa’s impressive economic growth rates and overall improvements in macro-economic management. “Through my experience as CEO of the United Bank for Africa, I worked hard to expand

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

UBA from a Nigerian bank to one that now has subsidiaries in 18 additional African countries,” said Mr. Elumelu, who is now the Chairman of the bank. “This experience showed me the commercial benefit of investing across Africa as well as the broader economic and even social impact the private sector can make, which was the origins of the philosophy I call ‘Africapitalism’,” he added. The book has 16 different contributors from respected universities and research institutions in Africa, Europe and North America; all with deep knowledge of and experience in Africa. One of the contributors, Professor Sir Paul Collier of Oxford University, writes in the book’s introduction that “this is a timely book... Africa’s economies have huge potential for growth that is more widely diffused across many sectors. Despite softer commodity prices, during the coming decade, Africa will continue to catch up with the world economy”. Covering sectors from transport infrastructure to information communication technology to private security to cement manufacturing, the book analyses some of

the leading pan-African companies to illustrate both the challenges and opportunities of intra-African trade and investment. Jackie Chimhanzi, who works with the Industrial Development Corporation of South Africa, writes about regional economic communities and their role in facilitating more cross-border business. Entrepreneurship expert Eric Kacou of Cote d’Ivoire covered Africa’s media and entertainment industry, highlighting emerging value chains and stalwarts like Nation Media Group of East Africa. And Bitange Ndemo, former Permanent Secretary of Kenya’s Ministry of Information and Communications writes about how technology is facilitating more business, trade and investment between countries. Speakers and attendees from the WEF Africa meeting were on hand to listen in on the presentations provided by the book’s editors: Dr. Wiebe Boer, Director of Strategy at Heirs Holdings and former CEO of the Tony Elumelu Foundation; Dr. Terence McNamee, Deputy Director of the Brenthurst Foundation; and Mark Pearson, an economist and expert in African affairs.

Book title: Africans Investing in Africa Editors: Wiebe Boer, Terence McNamee and Mark Pearson Number of pages: 338

UKF documentary on indigent children premieres in Lagos Ebere Ameh

hildren from low-income families will have reasons to smile back to school as the United for Kids Foundation (UKF) organises fundraising events in three cities to reach to needy children. Incorporated in the USA, Nigeria and the United Kingdom, UKF is established exclusively for charitable and educational activities targeted principally at needy children in Nigeria. “Our aim is to create a vehicle that enables fortunate individuals and organizations apply their resources towards alleviating the unfortunate conditions of less fortunate poor, sick and orphaned children, and providing them with the tools to overcome poverty, sickness and illiteracy,” the organisers stated. The event which is organised in three cities – Maryland, Houston, both in the United States, and Lagos, Nigeria, will feature a documentary premiere and reception which will showcase the works of the foundation and its effort to support indigent children. While the Maryland and Houston events took place on April 18 and May 8, at the

Roger Carter Centre and The Ensemble Theatre respectively, the one for Nigeria will hold on Thursday June 11, at Terra Kulture, Victoria Island, Lagos. In addition to the documentary, there will be networking, question and answer session and speeches from beneficiaries. There will also be inspiring stories from the children the Foundation continues to support. It will also be an opportunity for children to write letters to kids in Nigeria. Proceeds from the 2015 documentary premiere events will be used to fund this year’s edition of the UKF Back to School program for 15,000 children

and 1,000 teachers and caregivers. The program, which is estimated to cost $180,000, is organised in the foundations continued bid to scale their impact and introduce bolder solutions to challenges faced by children from low income families. Speaking about the event, the coordinating Trustee of UKF, Tope Fajingbesi said the foundation is excited to host their current and potential sponsors of the events. “We are not just doing this to raise money to fund our annual back to school campaign for 15, 000 children, we are doing this to create a platform for other peo-

Cross section of students in a programme organised by UKF

ple to feel the hope and warmth we feel every single day we work with these children that are most often ignored.” Contributions from donors will go far beyond education to provide essential services to children in orphanages, states and privately owned hospitals and other institutions. Describing the UKF events as a bridge that connects two separate worlds, the Vice Chairperson of the foundation, Adesuwa Ladoja implores everyone to come to this family friendly event and lend a hand to this noble cause that has reached over 4000 children since the year 2000.

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

The Mega City ...EXCLUSIVE LAGOS MAGAZINE

LIFE IN THE CITY

MY CITY, MY WORLD

Brick wall

There is much to be desired in Lagos

Tragedies at dawn

Sympatizer around the tanker that cause the fire disasters in Lagos

At least over 1,000 Lagos residents have been rendered homeless in petroleum tanker explosions that occurred in Iyana-Ipaja and Idimu. While the state government is making efforts to forestall recurrence, homeless victims are clamouring for succour. Muritala Ayinla and Ezurike Ugochukwu write

he time was 11:49p.m, Hafeez Wakil was returning from work when he noticed a fallen fuel laden petroleum tanker about 130 meters away from his home, spilling its content on the road and in the drains. Sensing the imminent explosion, the 55-year-old man ran to his house

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

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to alert his family members and other neighbours. He thereafter woke his wife and the three grand children living with him and fled through the backyard. They scaled the fence to other adjoining streets. Children and the elderly who could not scale the fence to escape from the raging fire were whisked across to the other side of the street through a hole. The shout of â&#x20AC;&#x153;Ina!Ina!!Ina!!! (fire!fire!!fire!!!), rented the air in the terrible midnight. In the stampede, some sustained minor injury, other broke their legs and arms in the process of running away from the inferno. In a twinkle of an eye, the tanker exploded, spreading quickly to other buildings around the area through flowing petroleum product in the drains that pass through buildings. From far, they watched helplessly as the raging fire destroyed

They watched helplessly as the raging fire destroyed their properties

their properties, spreading from one building to the other. The achievements of labour of several years perished in their presence. The personnel of the Lagos State Fire Service had a hectic time battling the raging fire but the damage had already been done, not even a pin could be moved out of the houses and shops. Many nursing mothers could not see their children until the following morning. Shop owners on the affected streets rushed to the scene to salvage their millions of Naira worth of goods but they could do nothing except to join residents in the lamentation of their losses. They lamented the cash kept in the shops and the goods in their shops. Many said they had just bought some goods, others wept for the damage done to the shops they had just refurbished.

In the morning when everything became clearer, 34 houses were completely burnt while 70 shops were razed with the goods inside them. Electric poles were badly burnt while the burnt cables littered the floor. The entire community was like battle ground ravaged by war. That was the scenario of the tanker explosion that suddenly rendered the residents of IdimuEgbe road homeless. The second of such disaster that claimed several houses, shops and vehicles in Lagos within a week. The accident occurred barely four days after another tanker exploded at Iyana-Ipaja, another densely populated area in the state, destroying 24 cars, three houses and several shops. Fourteen person were badly injured in the incident which occurred at 1:am. CONTINUED ON PAGE 26

Life | Mega City

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Brick wall

The abandoned four star hotel at the Muritala Mohammed Airtport in Lagos

PHOTOS: TONY EGUAYE

Efforts by private individuals, who won concessions from the Federal Aviataion Authority of Nigeria, (FAAN), to build four star hotels at the Muritala Mohammed Airport in Lagos has been stalled. That is no thanks to obstacles placed on their way by the same FAAN, leaving the projects standing tall, uncompleted. WOLE SHADARE reports

irports have become meeting points for business, destination for large conferences and conventions, a paradise for shoppers and a melting pot of different nationalities, ethnicities and cultures. The airport city model is grounded in the fact that in addition to their core aeronautical infrastructure and services, major airports have developed significantly with massive investment in hotel infrastructure. Efforts by two investors, Dr. Wale Babalakin and Chairman AIC Limited, Chief Harry Akande to build four star hotels at both domestic and international wings of the Lagos airport, respectively has been met with stiff resistance after the Federal Airports Authority of Nigeria (FAAN) approval of the concessions to build four star hotels as it is done in other climes has been thwarted by the same authority. While that of Akande dates back to 1998 and whose job is yet to take off because of litigation instituted by the aviation agency, that of Babalakin which has reached 60 per cent completion stage is allegedly held back by lack of finance and hurdles put up by FAAN when it told journalists that the multi-billion naira project had been revoked. But Bi-Courtney Aviation Ser-

vices Limited described FAAN’s statement as a joke, assuring that the project would be completed as soon as possible. Two years ago, BASL, operator of MMA2 Terminal at the Lagos Airport resumed work on the hotel and conference centre projects at the Lagos Airport. The projects are located opposite MMA2 Terminal and work on the projects was stopped for some time due to paucity of funds. Sources in Bi-Courtney said the contractor for the projects, Stabilini Visinoni, were mobilised to site and to complete the two projects “once and for all.” According to the source, “All is now set for our contractor to move to site and see to the end of the projects, which have been there for a few years now. This time, we are determined to complete the projects and change the face of the Murtala Muhammed Airport environment for the better.” The two projects have become a subject of litigation between Bi-Coutney and the Federal Airports Authority of Nigeria (FAAN), the lessor of the land on which they are sited. The government had contended that Federal High Court lacked the jurisdiction to hear the action filed by Bi-Courtney to challenge the purported revo-

We are determined to complete the projects

cation of its leasehold interest on the Hotel and Conference Centre. With the ruling of the court on the preliminary objection, the hearing of the substantive suit was the fixed for June 5, 2013. Before that order by the court, FAAN had announced it had terminated two leases earlier granted Bi-Courtney Limited for the development and management of a four-star hotel at the Murtala Muhammed Airport, Ikeja. In two separate letters, dated April 19th 2012, the authority informed Bi-Courtney that the leases granted it in respect of the two projects had been terminated as a result of breaches committed by the company in the agreements it signed with FAAN on the two projects. Spokesman for FAAN, Mr. Yakubu Dati, had in a statement over the dispute said that in “the said agreements, the two projects were to be completed in 2008 but FAAN graciously extended the construction period to July, 2009 but Bi-Courtney still failed to complete the two projects at the expiration of the extended period.” Thus “by that termination order, the premises in respect of the two projects have reverted to FAAN automatically, in line with the

terms of the agreements”. According to FAAN, “BiCourtney forcefully and illegally acquired part of the premises belonging to the Murtala Muhammed Airport, School, Ikeja to construct the conference centre, despite loud protest by the pupils and parents of the school. It was these protests that stopped the company from acquiring the entire premises of the school, which Bi-Courtney had planned to take to another location in Lagos.” But Bi-Courtney says that was just a figment of FAAN’s imagination as the property validly belongs to Bi-Courtney. It would be recalled that Bi-Courtney secured the concession agreement to build these facilities, including a conference centre from the agency, but FAAN argued that the time given the company to complete the hotel had since elapsed since 2008. According to FAAN, by the content of the agreement it reached with Bi-Courtney Limited, the later had breached the terms of the contract by not completing the projects as scheduled, so the facility reverts to FAAN. But Bi-Courtney had earlier secured a court injunction to stop FAAN from taking over the facility and unless the CONTINUED ON PAGE 23

Life | In The City

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Other views of the abandoned hotel

In the cooler court rules otherwise, the company still lays claim to its ownership, although FAAN insists that it did not receive any court injunction. In his reaction to the clamour of aviation workers for FAAN to take over the property, former spokesman of BASL, Steve Omolale-Ajulo, said: “Anybody or group is free to mount pressure on FAAN to convert another company’s property to its own. But, the position of the law is clear on that and Nigerians are aware of the decision of the court as far as the hotel and conference centre projects are concerned. Bi-Courtney sympathises with FAAN for displaying its frustration and desperation so openly by using all sorts of tactics, from directly lying to the public and now sponsoring some groups and statements in the media in its already failed campaign of calumny against us.” FAAN and Bi-Courtney had been in constant dispute over the property while former Aviation Minister, Stella Oduah reigned. The face-off lasted until recently as the former accused the latter of committing acts of illegalities. The latest development was based on the pulling down of the bill boards erected by Bicourtney on the walls of the uncompleted hotel building at MMA2, Ikeja and the overhead bridge linking the terminal to the hotel project which FAAN claimed it has reposed not long ago. The company said the action of FAAN was

tantamount to lawlessness and outright brigandage as placement of advertisements on its structures was part of the concession agreement it has with the Authority. While protesting the action recently, BASL’s Head of Litigation, Mr. Tola Oshobi, said: “The ongoing saga between the Federal Airports Authority of Nigeria (FAAN) and Bi-Courtney in respect of the concession agreement entered into on 24th April 2003 has taken a violent turn. FAAN along with some hoodlums and vandals pulled down bill boards erected by BiCourtney at the airport today. This action was taken without notice and in total violation of the concession agreement. “On November 15th 2011, in a case titled Bi-Courtney Limited vs. The Managing Director Federal Airport Authority of Nigeria and the Federal Airport Authority of Nigeria, the issue of FAAN’s right to pull down advertisements installed by Bi-Courtney came before the Federal High Court for resolution. “In a comprehensive judgment delivered by Hon. Justice Stephen Jonah Adah, the court decided that under the agreement, FAAN had no right whatsoever to take laws into its own hands. If there are any dispute between FAAN and Bi-Courtney, this dispute must be resolved by arbitration in accordance with Article 22 of the concession agreement. His Lordship specifically held that: “The sum of it is whether the defendants can in any dispute relating to the concession agreement take action to resolve disputes without resorting to Article 22 of the said agreement for dispute resolution mechanism. It is obvious in the light of the said agreement that the Defendant cannot so act … It is ordered also in consequence of this that the parties should refer their dispute for amicable settlement as prescribed by their agreement”. Oshobi added: “FAAN and Bi-Courtney have been in constant dispute over the concession agreement.” As the battle for the soul of the property continues, the question on the lips of many is who really would possess the property? Why is FAAN having issues with almost all the concessions it entered with Bi-Courtney? Why can’t FAAN and Bi-Courtney work harmoniously and chart a healthy pattern of a workable pubic private sector partnership in the aviation industry? Would the bickering between FAAN and Bi-Courtney affect investors’ confidence in the aviation sector? Experts who spoke to New Telegraph said they would not be able to comment on the matter because the matter is still in court. A source who preferred anonymity said, “I know the issues but I can’t comment because the matter is still pending in court.”

Life | Mega City

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Lagosians speak on fuel subsidy It was intended to alleviate hardship of the citizens, but with the recent lingering crisis which it has generated, amidst crossfire of accusations and denials between fuel marketers and the Federal Government, fuel subsidy has become like a thorn in the flesh. It has unleashed untold socio-economic difficulties on the citizenry. ELIJAH SAMUEL reports the people’s standpoints on the raging subsidy campaign Tunde Kolawole

don’t believe there is a subsidy. It is a creation of our elite to enrich themselves and their friends. When you look at the stories and figures they had always given, you’ll see that it always has to do with the cost of transporting fuel from part of the country to the other. If a man that is producing biscuits, or a man that is producing sugar or semovita, or man that is producing star larger beer does not ask the Federal Government to subsidize the cost of transporting his products from the point of production to end-users in Port Harcourt, or Warri, or Maiduguri, there should be no reason whatsoever to ask the Federal Gover nment to give subsidy to oil importers for the cost of transporting oil from one part of the country to the other parts of the country. The government should remove it; it’s avenue for corruption. Again, the subsidy is one of the excuses that the Nigerian government have been using in the past years for not being able to deliver service to the people. So, let us remove the albatross from our neck so that we see other excuses they will give in future for not being able to deliver on their promises to the Nigerian people.

Akin Femi

We are suffering too much for what God has blessed us with. If removing the subsidy will solve the problem, to the extent that we can always get to any point and buy fuel, let the government remove it so that the suffering of the transport operators looking for fuel, and the commuters not getting transportation and being stranded can end once and for all. Let them remove it while the market forces will determine how marketers should sell their products.

Daniel Okoro

The government should not remove subsidy because its removal will definitely add more to the suffering of the masses because they will have to pay more. The government should continue to pay for subsidy.

Michael Ani

The government should remove the subsidy completely so that the money meant for subsidy should be used to build new refineries and revitalize the existing ones. But the prices of fuel should still be regulated by the government. The marketers can take undue advantage of the people and begin to charge exorbitant prices if there is no regulation.

Kolawole

Okoro

Oduleye

Owoloye

Femi

Ani

Abah

Davidson

Femi Davidson

Let the oil sector be liberalized so that the marketers can be at liberty to sell at the rate that is dependent on the landing cost. Even at that, the government should in place mechanism that will regulate against arbitrary prices. Again, there is a cabal whose interest is to see that the fuel crisis persists. They cut across ministries, departments and agencies of the government. There should be a sweeping overhaul of the relevant work force. If the government can carry out this, they will discover the bad elements, take care of them and things will change.

Babatunde Oduleye

The Federal Government should please stop the subsidy now. It should be stopped because a lot of revelation in the present time has further buttressed the public’s long-held suspicion that there’s a cabal that is feeding fat on the subsidy payment. If it is removed, we will only suffer for a while but the government should plough what is meant for subsidy into the resuscitation of the existing refineries. By the time the

refineries are back on track, fuel issue would be a thing of the past.

Ahmed Olatunji

There is nothing like subsidy. It is a platform for stealing

Fuel subsidy is a scam. We have seen that the cabal that is benefitting from the subsidy arrangement is deep-rooted: they cut across every ministry, department and agency of the government. Their members have refineries built outside Nigeria, even in the neighbouring countries close to us. They have deliberately ensured that Nigeria refineries won’t work so that they can continue to thrive at our expense. Again, the last administration took the country for granted by not reducing the fuel price to what is commensurate to the international market. Even when the price of crude oil fell in the international market, it took the government a while to respond. Even the fixed price of fuel at N87 is unacceptable. But the excuse of the Minister of Finance in the last administration was that they lost so much money as a result of the fall in

crude price at the international market. It is time the government stops the subsidy and concentrate on reviving the four refineries that the country has.

Samuel Abah

If the government can assure us that removing the subsidy will guarantee uninterrupted supply of fuel, it is okay. It is bad and upsetting when you have money and you can’t find fuel to buy.

Shola Owoloye

There is nothing like subsidy. It was initiated all in the name of swindling the masses in this country. It is just the right time that the government should cease payment of subsidy.

Tunde Adeyemi

There is nothing like subsidy: it is a platform for stealing; people are hiding under it to steal public funds. What the government should do is to ensure that the refineries we have are working, and are in good condition to work at optimum capability. I am in support that subsidy should go and that the refineries should be brought to life.

Life | In The City

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

o doubt, so much pains; losses have been unleashed on Nigerians during the period of the festering hardship of the fuel scarcity which virtually was felt and crippled all sectors of the economy. The situation was even more compounded as the entire country depends on fuel as the source of generating energy for most of its socio-economic activities. However, as profound as the negative effects of the fuelinstigated predicament were, it is instructive that the hardship did come without a mixture of veiled blessings. During the period, Lagosians, like the rest of the country, faced troubled time in which they could neither get power supply nor get fuel to generate alternative power supply. That created a strange scenario of serenity and safe environment that was devoid of usual noise and carbon emissions from the countless generating sets which are owned by residents across the metropolis. Chief Segun Sisande, a landlord in Ijeshatedo-Surulere, during an interaction with New Telegraph, pointed out that “there was silence everywhere, mostly at night during the time when the fuel was biting very hard. At that time, it was tough for most people to afford the cost of fuel: whether they wanted to buy the fuel to power their generators for business, or for comfort at their homes, it was very difficult. So, what the difficulty to buy fuel caused was a situation where many people could not use their generators for some nights. That made silence to pervade our neighbourhoods. In my house particularly, I had peace because all the generators rested for days.” Sisande prayed the government to do everything at his disposal to find a permanent solution to the intractable power problem in the country. This will save the health of residents wherever they may be and find stable power supply to conduct their socio-economic activities.” According to him, he was enjoying the pureness of air and the serenity which the period of intense fuel scarcity offered. Corroborating Sisande, Clifford Okoro, a businessman, said “one thing that was easily noticeable during most of the weekend of the third week of May, when the fuel scarcity got to the head, was the strange quietness that descended on most of the places I traversed. For once, there was no noise pollution and air pollution as most people could not put on their generators. It was strange but that was the reflection of where we, as a nation, find ourselves. Okoro however does not want a repeat of this hardship as it affected businesses. “It is true that we had some relative quietness and safety of the environment because of the near-absence of noise and air pollution, but it is not good for us because it was odd. It wasn’t a perfect peace.” But a resident, Okechukwu Orji, who is a private school teacher, revealed that hidden health benefits were offered to himself as well as thousands of other residents who were compelled to trek long distances during the fuel scarcity. Orji said: “You know one blessing in disguise which the fuel scarcity offered during was the opportunity to exercise. Many actually might have seen the long

Different scene of distraught citizens during the fuel scarcity

PHOTOS: GODWIN IREKHE

Gains of fuel scarcity While many Nigerians gnashed their teeth in agony over the fuel scarcity witnessed some weeks ago, it was a blessing for some others. They saw the merits of not having fuel by residents. Elijah Samuel reports distances of trekking which they were unavoidably subjected to during the peak of the lingering oil scarcity as suffering. But the trekking did a lot of good to many of us who had to trek at some points. For instance, there was a particular day that I got to Ojuelegba, while going to Ijesha, the transport fare was just too outrageous. I couldn’t pay the amount. So, I decided to trek. While on the road, I saw so many people that were also trekking; and before long, I was half way the journey. It was fun and energizing to me.” Yet, a lawyer, Wahab Dako believed that the fuel imbroglio offered more beneficial gains to the citizens than the highlighted ones above. “One thing I discovered during the fuel crisis was that the roads were free from traffic congestion most of the times. This made driving to be pleasant as many vehicles were off the road. But immediately

For most people, the subsidy should be removed if that brings solution

the strike was called off, we started witnessing the return of traffic.” Dako added: “Another important thing the fuel strike did was that it brought to the front burner the issue of fuel subsidy. The hardship and inconvenience that accompanied the scarcity was seen as incessant, so, the period presented an opportunity for many people to look at the issue again. For most people, the subsidy should be removed if that is going to bring solution to the lingering fuel crisis. And honestly, I think the people are already preparing themselves towards new pricing system if and when the subsidy is finally removed; people were buying fuel at far higher prices than what is officially approved by the government.” The testimonials notwithstanding, many residents believed that it was not a wish that the unpleasant situation persists. Rather, they want the government to find a lasting

situation to solve the perennial lack of power supply. They believe this will prevent a situation where everyone will have to be generating power, either for domestic or business purposes. Orji concluded that government should note that as much as it is imperative for the provision of reliable power and steady fuel supply to be achieved for the socio-economic benefits of the country as a whole, the health of the citizenry should not in any way be compromised because the people, in actual fact, are the wealth of any great nation. However, the difficulty which the knotty issue of fuel subsidy unleashed on the citizenry, had once more engendered a discourse on whether subsidy should be retained or removed. For most residents, subsidy payment is nauseating, and there can never be any justification for its continual payment by the government, considering the controversy that it has generated over the years.

Life | Mega City

CONTINUED FROM PAGE 21

The two accidents occurred at night when residents were asleep. As if that was not enough, another tanker conveying 40,000 litres of fuel also crashed along Lekki Epe Expressway, spilling its content on the road. The emergency responders in the state prevented it from exploding. Hence, no life was lost while no house got burnt. Speaking on the incessant tanker explosion, the Lagos State Fire Service, the Lagos State Emergency Management Agency, the State Emergency Management Agency and the officers of the Rapid Respond Squad had hectic times managing the incident and the crowd of onlookers, who thronged the scene of the incident. Many victims were too shock to speak to journalists on the incident but the few, who managed to speak said they had been left with nothing, saying that the clothes on them were given to them by relative and other sympathizers around. At Iyana/Ipaja, some of the people affected are still counting their losses especially the psychological trauma they are likely to pass through. According to an eye witness account, the idimu incident happened when a petrol laden tanker and a tipper truck were dragging the way. Unfortunately, the tanker truck skidded the way at the curve at Idimu and upturned and emptied its content into the newly constructed drainage at the ongoing road construction at the Idimu –ejigbo road. The liquid, which met with naked fire as it was flooding through the road and drainage, set the whole town aflame, rendering many people homeless unlike the Iyana/Ipaja and Lekki inferno. Also speaking with New Telegraph, Hamzat, narrated that he saw the tanker when it lost control and fell on the road. “I was coming from the area where the accident occurred. Immediately the tanker somersaulted, spilling its content on the road, something told me that the tanker could explode. The fuel content flowed through the drains with speed and in matter of minutes, it exploded and the fire spread from one house to the other and the entire community was engulfed by fire. At Idimu, a 100year old Pa Ramon Alapala had been in serious pains as a result of the fire incident around his area Friday night. The Baba now suffers in limb injury and injury on his scrotum. He is in double tragedy as his house of over 10 rooms which was his only source of livelihood was razed down by the petrol tanker fire. According to his sons Saheed Ramon, the fire first carried the roof of the house like wind. “We had gone to bed when I heard hey! Hey! Fire! Fire! When we came out, we saw fire everywhere. Around 12.30am, the smoke came and blanketed the whole compound and beyond; it first took off the roof of our house. What saved us was that as soon as we started smelling the odour of fuel, we took on our heels. We were outside when the house got aflame. We could not pick anything from this house. Our father tried to run like every other person, but fell down before we could come to carry him out. My father is the only surviving landlord in this area.” Many people within the area that got aflame in Idimu said even

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Rage of petrol tankers

People inspecting the ruins of the disaster

if they die today, they had died their first death going by the way they saw fire billowing into the sky that night. Since the place was close to the NNPC pipeline, they thought it was from the pipeline that passed across the area according to one Blessing okoye of number 41 pipeline road. They ran away from their houses towards Egbeda area. “If you come along the pipeline that morning, the numbers of footwear you will see that scattered all over were uncountable. I thank God we are alive,” She said. High chief M.O. Ojugbele, the secretary of Idimu council of Obas and Chiefs, said the gods are angry. This is unprecedented in the history of Idimu land. “There is need to cleanse the land of the gods’ anger; because there has never been an incident like this in the history of Idimu. When such thing like this happens, it appears like there is something wrong somewhere that needs to be ratified. This could be attributed to the grievances of some goods, so, we need to appease. That is why we seek for compensations from the government to enable us do that. Many people have lost their life earnings. Meanwhile, Director of the Lagos State Fire Service, Rasak Fadipe and the General Manager, Lagos State Emergency Management Agency, Dr Femi Oke-Osanyintolu, blamed the frequent incidents on the tanker drivers, who they noted, were not safety conscious enough on the road. According to Fadipe, “The information we gathered was that two articulated vehicles, I mean the tanker drivers were contesting for road and one of them eventually lost control. If you look at the scene where the incident happened, you will see that that they had just finished negotiating a bend when the accident occurred. The tanker owners should ensure that they engage someone who understands road signs. How can you be on the speed when

There is need to cleanse the land of the gods’ anger

you are negotiating a bend? Drivers who must drive at night must ensure they rest in the morning and afternoon. They can’t continue like this because it is alarming.” Osayinntolu, who said enumeration of the victims would commence immediately after the management of the disasters, however appealed to the residents to stay away from disaster scene to enable the trained personnel emergency responders do their jobs. The Lagos state Federal Road Safety commander, FRSC, Hyginus Umeji decried the rate at which tankers crash in the country especially in Lagos state. He expressed worry of the command over these occurrences and called for collaborative efforts even as he pledged his commands total support and cooperation to the Lagos state government. He said, “For us this is just one other tanker crash too many, going by the fact that just on the 2rd, we had one at Iyana/Ipaja. The corps marshal had earlier stated the need to step up enforcement tanker drivers to ensure caution

Another scene of the fire wreckage

and safety. “We have been liaising with their unions. I want to toe the line of the police that together we are all going to ensure that sanity is restored on our roads in Lagos in particular. Gover nor Akinwunmi Ambode, who wore a very muddy look throughout the inspection tour of the scenes of the tanker fire explosions, however assured that measures would be taken to forestall future occurrence of the disaster. “We have said it before, we need to address our tanker drivers and start to enforce our traffic laws and make pronouncement relating to the usage of our roads. I commiserate with all the people here. I appeal for calm. We would do immediate relief; we would take enumeration and see in what ways we can address your pains. We would do everything in our power to help them get back to their normal lives. We pray that we do not have this kind of incident again in Lagos,” he said.

Life | In The City

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Our Expectations There is much to be desired in Lagos Elijah Samuel usa Buhari is a resident who M has been practic-

Newly acquired towing trucks for LASTMA

LASTMA’s towing vehicles are back lAmbode tasks officers on new approach

Muritala Ayinla etermined to boost the Lagos State economy through efficient reduction of travel time within Lagos metropolis, the Lagos State Government has embarked on repositioning and re-engineering of the Lagos State Traffic Management, LASTMA. The government has in addition to rehabilitation of the LASTMA headquarters and training of the traffic personnel, also re-launched 23 tow vehicles to remove broken down vehicles on the road and ease free flow of traffic. The moves, New Telegraph gathered, are part of the strategy to rebrand LASTMA and make the agency efficiently contribute to the development of Lagos economy by reducing travel time of the estimated 21million residents in the state. Motorists in Lagos spend between 4-5 hours daily while going to or coming from office, a development medical experts say could result to shorter life span. Those who keep medical records say that the increased high blood pressure and related diseases become more threatening while psychiatrists are seeing more patients than they used to due to the problem associated to stress resulting from endless hours spent in the traffic jam by Lagos residents. Beside the health implication of the perennial traffic gridlock in Lagos, resources are also wasted in the otherwise productive hours spent in the traffic while burning expensive petrol freely in anticipation that the traffic will soon move. Hence, some have suddenly become strangers to their family members as many only see in the night when they are asleep or on Saturdays while they sleep off the fatigue from a workweek, mostly spent in traffic. Speaking on the new development in LASTMA, the Deputy Comptroller of the agency, Philip Ogunlade, said the tow vehicles would assist the agency to improve on service delivery, ensure free flow of traffic, removal of broken down vehicles from the roads and enhance general implementation of traffic laws. Ogunlade said the state government, through the Lagos State Traffic Management Authority (LASTMA) have also embarked on various reforms in order to reposition and re-engineer the Agency for better service performance.

The Deputy Comptroller General said the Agency has gone through systematic reforms and taken giant steps that will improve its human and institutional capacity to delivery accidentfree and unimpeded flow of traffic in Lagos State. This new height, according to him, was possible because the state government at various times and opportunity has demonstrated confidence, support and trust in the agency to function efficiently and effectively in line with the world best standards practice. “It is in furtherance of this, that state governor, under the administration of the immediate past governor, supported the agency to rejuvenate the medium and high capacity tow vehicles that have been incapacitated for years in order to boost the operational capacity of LASTMA. “In addition, the agency has consistently embarked upon human capacity building, and over the years, with scores of LASTMA personnel that have undergone local and overseas trainings in order to improve traffic management efficiency and service delivery. This is coupled with other trainings on good conduct; inter personal relationship, quick response to road safety and emergency and how to operate within an ambit of the law. The combination of trainings was responsible for the existing cordial relationship between the agency, stakeholders and motoring public. Such public support and goodwill in the course of duty performance is responsible for the increase in motorists voluntarily compliance with the traffic law in Lagos State.” He added that as part of the ongoing revolution at the agency, various departments have been reorganized, repackaged, upgraded and equipped with the state- of- the- art modern facilities to perform efficiently as expected of modern day traffic management institution. Also speaking with New Telegraph, the LASTMA General Manager, Engr Babatunde Edu, said the agency would intensify its 24-hour service to remove broken down vehicle on the road to ease free flow of traffic. Edu assured that traffic prone areas would be aggressively looked into to ‘unlock the gridlock’ experienced in some parts of the state.

According to him, “ The serenity that pervades working environment across the state is conducive to boost officers’ morale. Furthermore, just as the agency and state government have placed premium on traffic officers welfare, safety and security through the provision of insurance and welfare packages and annual award programme in appreciation of dedicated staff.” This, Edu said, is to maintain discipline and officers to operate within relevant laws and operational guidelines, that hundreds of officers have been disciplined with many dismissed for various acts that were at variance with the Lagos State civil service rules and regulations. Also speaking, the head of recovery department of the agency, Henry Akintominde , said the agency has been reorganized to maintain discipline among rank and officers of the Agency. He said the refurbished tow vehicles would boost the Agency`s capacity to remove broken down vehicles from the roads, help in ensuring safety, free flow of and improve service delivery. He therefore urged members of the public to respect traffic laws, not to imbibe culture of impunity and cooperate with traffic officers and members of the public, take advantage of the Agency feedback mechanism to lodge report and complaint, as such complaint and report will be treated with utmost dispatch. Governor Akinwunmi Ambode, while addressing hundreds of LASTMA , KAI and VIS personnel at the State House, Ikeja, Lagos, warned the official to desist from harassment of motorists. The governor said henceforth, it is forbidden for any LASTMA personnel or Vehicle Inspection Officers (VIOs) to jump into the vehicle of the traffic offender in a bid to arrest them or impose fine on them for violating the traffic laws, saying he would live by the promise of making life easier for all the citizens of Lagos State irrespective of their religious, ethnic and party affiliation. The governor said the attitude of the law enforcement agents would be seen as a reflection of his character, saying that he remained committed to making life easier for any resident in the state.

ing law for quite some time in the in Lagos. He finds the centre of Excellence very fascinating in a number of ways because of the remark- Buhari able transformations that have been ushered into the state by the immediate past administrations, especially by former Governor BabatundeFashola. Among those things he finds interesting and would love to be retained is the beautification exercise started by last administration. “I find places like Oshodi and Obalende very exciting and good to behold. No doubt, the former administration has done tremendous job in the state, but there is still much left to be desired.” “The new administration needs to urgently look into how to solve the problem of miscreants in the state. They have become thorn in the flesh of the residents; they are harassing people everywhere in the state, whether in the streets, markets or at motor parks. “Also, the roads network in the state still needs to be worked on and developed in a way that traffic gridlock will be eradicated; the recent fire outbreaks across the state show that the state should strategize on how to safeguard against loss of lives and properties in the state. The government should also use the opportunity of the moment to find lasting solution to the operations of tanker drivers in the state. “Unemployment is a big and general problem, but the government should try to create a social services centre. That will take care and reduce the number of unemployed youths roaming aimlessly around. “Besides, let there be restructuring of the Lagos State Traffic Management Agency,LASTMA, and Kick Against Indiscipline,KAI.

Harsh anti-masses laws should be jettisoned – Joshua Ezurike Ugochukwu hief Ibidun Cclass Joshua is a high chief and

a politician of repute in Lagos. He expects the new administration of Mr. Akinwunmi Ambode to be of the masses unlike the Joshua policies of the former administration that was adjudged to be more elitist in nature. He reasoned that the new administration should lay greater emphasis on opportunities for the common man. Such policies that would distort the source of livelihood for the common man and never created an alternative should be avoided by this Ambode administration. For instance, the ban of motorcycles (okada), demolition of shops and shanties, Should be cautiously and sensitively done. “Though some of the actions of the government will be good and beneficial in the long run, but in the interim, government should always make room for a fall back being mindful of the fact that the people involved are the poor in the society” the government should look into so much abuses of people’s right by the police, how the common masses are hounded into police cells at the slightest provocation.

The Mega City

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

MEGA CITY EVENTS Archbishop Magnus Atilade’s daughter’s wedding in Lagos

Mr. Oluwatosin Ola and his wife, Adefemi, during their wedding in Lagos

L-R: Parents of the bride, Archbishop Magnus Atilade; his wife/ Chief Judge of Lagos State, Justice Olufunmilayo Atilade; parents of the groom, Elder Niyi Ola and his wife, Toyin, during the wedding in Lagos

Nigerian Pop Star. Tu Face (left) and Chairman, COSON, Mr. Tony Okoroji during 5th anniversary of the approval of COSON as the nation’s sole collective management organization for musical works and sound recordings in Nigeria

L-R: Consultant, Mr. Mac Emakpore; Chief Executive Officer, Biltop Music of Nigeria, Mr. Ben Ofoeze and Chief executive Officer, Premier records Ltd. Mr. Toju Ejueyitchie PHOTOS: GODWIN IREKHE

UPCOMING EVENTS United for Kids Foundation Lagos Documentary Premiere & Reception Organiser: United for Kids Foundation Date: June 11, 2015 From 6:00 PM - 9:00 PM Venue: Terra Kulture Plot 1376, Tiamiyu Savage, Off Ahmadu Bello Way Victoria Island, Lagos, Nigeria

International Conference on Wealth Creation Organiser: Cuttingedge Worldwide Impact Company Date: June 13, 2015 From 8:00 AM - 5:00 PM Venue:LCCI Conference and Exhibition Centre, M.K.O. Gardens, Alausa, Ikeja, Lagos, Nigeria

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

FCT Watch

Money

CBN: One year under Emefiele

Scepticism hinders harmonised corporate governance code adoption

The Investor

Maritime

Concerns over new rule for stocks

Nigerian shipowners seek establishment of maritime bank

Business What's news

Nigerian Stock Exchange assets hit N20.6bn The Nigerian Stock Exchange (NSE) has grown its total asset to N20.670 billion during the financial year ended December 31, 2014.

p.30

Seplat seeks scrapping of Nigeria’s oil JV funding plan L-R: Registrar/Chief Executive, Chartered Institute of Taxation of Nigeria (CITN), Mr. Adefisayo Awogbade; President, Dr. Olateju Abiola Somorin and out-going President, Chief Mark Anthony Dike, at Somorin’s investiture as the 12th president of the Institute in Lagos.

Indigenous oil company, Seplat Petroleum Development Company (SDPC) has said that the “cash call” requirements in Nigeria are a “constraint” affecting production, demanding for the scrapping of the current funding arrangement for oil projects.

p.30

Maritime: Insurance database to halt N46bn annual loss FRAUD

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

he expected introduction of the Nigerian Insurance Industry Database (NIID) by the Nigerian Insurers Association (NIA) this month will gradually eliminate the prevalence and issuance of fake insurance documents in the nation’s maritime sector. The failure to put such a

mechanism in place in the past led to an average loss of N46 billion annually. NIA, which is executing the project in collaboration with maritime stakeholders, had complained that the sector was losing N46 billion annually to fake insurance certificate vendors operating at the various ports. A stakeholder in the maritime sector, Mr. Bolaji Akinola, who reaffirmed the willingness of the insurers and the maritime operators to put an end to the fraud, said that the introduction of the database would go a long way in checking the activities of fake insurance vendors. NIA noted that insurance

INFLATION RATE April 2015................................8.7% March 2015.............................8.5% February 2015.........................8.4%

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

Importers and fake insurance vendors are using ordinary papers to deceive customs at ports

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

Bayo Akomolafe

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

firms and Nigeria Customs Service (NCS) were losing huge amount of money to fake insurance vendors, who are in the habit of presenting fake insurance certificates to port users. Also, the association planned to partner with the NCS, Nigerian Council of Registered Insurance Brokers (NCRI) and the Chartered Institute of Bankers of Nigeria (CIBN), to enable them verify any marine policy by insurance companies.

N678.24bn Value of revenue targets missed by the Customs in the last four years

Director-General of NIA, Mr. Sunday Thomas, said that the proliferation of fake insurance papers at the ports had prevented stakeholders from enjoying the benefits of having genuine insurance. He explained that some importers were using ordinary papers as evidence that they had complied with regulatory requirements. Thomas said: “The association has been working with relevant law enforcement agencies to introduce the database so as to end the era of fake operators in the sector. “We have introduced the NIID and it is already running; CONTINUED ON PAGE 30

Rates Dashboard EXCHANGE RATE

EXCHANGE RATE

(BDC as at Jun 5)

(Interbank as at Jun 5)

USD . . . . . . . . . . . . . . . . . . . . . . . N218 Pounds . . . . . . . . . . . . . . . . . . . N330 Euro . . . . . . . . . . . . . . . . . . . . . . N240

l Foreign Reserves – $29.343bn as at 4/06/2015

Source: CBN

USD . . . . . . . . . . . . . . . . . . . . . . N199 Pounds . . . . . . . . . . . . . . . . . . N308 Euro . . . . . . . . . . . . . . . . . . . . . N228

Business | News

GROWTH

Average daily value traded increased 29.5 per cent Chris Ugwu

he Nigerian Stock Exchange (NSE) has grown its total asset to N20.670 billion during the financial year ended December 31, 2014. NSE, in an annual report obtained by New Telegraph, said that its total assets rose to N20.670 billion in 2014 as against N15.698 billion recorded during the corresponding year of 2013. This represented a growth of 31.67 per cent. Its revenue stood at N6.533 billion from N4.576 billion reported in 2013, accounting for 4.76 per cent increase. The Chief Executive Officer of the NSE, Mr. Oscar Onyema, said that despite downward pressure on the equities market throughout the year, the Exchange delivered stable order flow. He attributed the improvement to a focused

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Nigerian Stock Exchange assets hit N20.6bn business model and the completion of several strategic initiatives. The NSE boss noted that average daily value traded increased 29.5 per cent, while turnover velocity increased 57.4 per cent over the previous year. He added that the market also saw a foreign and local participation rate of 58.5 per cent and 41.5 per cent, respectively in total value traded.

Onyema noted that during the year under review, the NSE consulted McKinsey & Co. to refine the business’ five-year corporate strategic plan. The result, according to him, was a focus on growth strategy, anchored by three strategic objectives that will help shape the exchange’s future and drive its longterm success. “Going into 2015 with a strong focus on execu-

tion, the NSE is wellpositioned to translate its strategy into returns. The Exchange remains committed to discovering what it can do better for the business and for its customers. By leveraging relationship and its customer-centric value proposition, it will focus efforts on introducing exciting opportunities to the market, enabling the bourse to grow its business and

develop a wider regional and global network,” he said. Onyema noted that in line with the corporate strategy, the NSE is unwavering in its commitment to solidify its leadership position in the region by promoting its market as an African hub for growth companies, attracting more domestic flows, implementing a more competitive price structure supported by

the regulator and other market participants and intensifying efforts towards developing a more sustainable market. He said that the Exchange plans to focus on strengthening relationship with key stakeholders and ensuring effective compliance with relevant laws, SEC regulations and safeguarding the Exchange’s reputation and strategic objectives. According to him, the Exchange recently implemented a compliance framework, which outlines the regulatory environment within which the Exchange operates and manages its compliance policies.

Insurance database to halt N46bn annual loss CONTINUED FROM PAGE 29

people are already uploading right now free of charge, but will soon start to pay for the upload.” He added that the operators involved in the verification process were trying to recruit those who would enforce the new initiative. Thomas noted that NIA would ensure that there was increased awareness on how stakeholders such as banks, the Nigeria Customs Service, the clearing agents and the importers could verify the authenticity of their certificates through the NIID. He explained: “If an importer borrows from the bank and uses fake paper for the purpose of getting clearance and something happens, the repayment of the claims will be difficult. “With genuine insurance in place, the interest of the lender will be fully protected and the importer will be able to continue with business when claims are settled.” Thomas said that Customs officers would no longer be deceived because they would be able to verify their duties from their desks. Meanwhile, in the last four years, Customs have missed its revenue target by N678.24 billion due to sharp practices in the ports.

L-R: Chairman, International Association of Drilling Contractors (IADC), Nigeria chapter, Mr. Sola Falodun; Representative of KCA Deutag (overall winner of 2015 HSE awards)/Secretary, International Association of Drilling Contractors (IADC) Nigeria chapter, Mr. Toks Akinuli and Vice President, Nigeria and Gabon of ShellExploration and Production Africa Limited, Mr. Markus Droll, during the 2015 HSE awards ceremony and dinner in Lagos.

BOOST

Firm says Nigeria can boost oil output with changed funding Adeola Yusuf

ndigenous oil company, Seplat Petroleum Development Company (SDPC), has said that the “cash call” requirements in Nigeria are a “constraint” affecting production, demanding the scrapping of the current funding arrangement for oil projects. The Nigerian National Petroleum Corporation (NNPC) holds an average 55 per cent stake in five joint ventures with Royal Dutch Shell Plc, Exxon Mobil Corporation, Chevron Corporation, Total SA and Eni SpA, which all pump over 80 per cent of the countries crude. It pays the same share of capital contributions for the operation of the oil ventures. Chairman of Seplat, Ambroise Orjiako, however, said that Nigeria could boost its oil and gas production by chang-

Seplat seeks scrapping of Nigeria’s oil JV funding plan ing the way capital investments are funded in its joint ventures with energy companies. Seplat, a Nigerian producer now running a joint venture with NNPC after buying assets sold by Shell, wants the current funding arrangement in Africa’s biggest oil producer scrapped in favour of a method less dependent on government. The “cash call” requirements are a “constraint” affecting production, Ambroise Orjiako, the company’s chairman, said in an interview with Bloomberg at the World Economic Forum Africa in Cape Town. “We need to find a situation where the joint-venture partners sit down and agree on what percentage of production should be dedicated to operation and capital expenditures,” Orjiako said. “That way, you ensure that growth in the industry is

guaranteed, that the production will increase, that the reserves will be increased and that there will be room for exploration activities as well,” he said. The Nigerian government struggles to meet its share of funding to the operation of the joint ventures with energy companies, thereby limiting the scope for increasing production. It is currently indebted to companies, including Shell, Exxon Mobil, Total and Eni, which had provided loans in the past to fill the funding gap. “We would like to see government also thinking about divesting some of its jointventure assets such that the private sector will drive the industry,” Orjiako said. As energy companies including Shell, Chevron, Total and Eni continue to divest assets in onshore areas plagued by communal unrest and dis-

ruptions in favor of offshore investments, Seplat will be looking for opportunities to expand. “We believe that we can engage the communities where we operate differently, being Nigerian companies,” Orjiakor said. “We are looking to see more of that happen and that will create more opportunities.” When Seplat took over its current oilfields from Shell, they were producing 14,000 barrels of crude per day, according to Orjiakor. Currently, the company pumps an average of 70,000 barrels a day and sees daily output reaching 85,000 barrels by 2017, he said. With Nigeria seeking to tap its gas reserves to meet pent up power demand, Seplat has expanded its gas investments, improving output from 90 million cubic feet per day in 2010 to the current 200 million cubic feet.

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

FCT Business Watch

CBN: One year under Emefiele

considered that the current discriminatory CRR on public and private sector deposits had not only constrained the policy space but could inspire moral hazard by private market participants.

Abdulwahab Isa Abuja

or any economic policy to achieve the desired impact, there has to be a coordination and harmony between the monetary arm and the fiscal authorities. In Nigeria, the Central Bank of Nigeria (CBN) is saddled with the responsibility of managing the economy by deploying appropriate monetary policies aimed at maintaining price stability and exchange rate, while the government is expected to cue in its support through the adoption of fiscal policies to realise the economic goal. However, this has not always been the scenario. Many monetary policies of the apex bank rarely get the expected implementation of the fiscal authorities, a development that has a telling effect on the economy. Besides, developments at the global scene had also inflicted a lot of bruises on Nigeria’s domestic economy so much so that the local currency, the naira, had come under severe attacks from within and outside Nigeria’s domain. In another breadth, the foreign reserves were also depleting fast due to the massive drop in crude oil prices at the international market. All these developments preceded Mr. Godwin Emefiele, the 11th governor of apex bank’s assumption of office on June 3, 2014. This is a nutshell, means that he came in when the economy of the nation was in trouble. He was appointed by the Federal Government to replace former CBN governor and current Emir of Kano, Sanusi Lamido Sanusi, who exited as a result of irreconcilable issues with the federal authorities. A former Chief Executive officer of Zenith Bank Plc, Emefiele figured out at the outset that the challenges facing the economy at inception was a daunting one. But how has the economy fared in the last 365 days under Emefiele? Curtailing forex abuse Past CBN governors have had tough times controlling the activities of some Bureau De Change operators who always enjoyed playing outside the rules set by CBN to regulate forex transaction. Conversant with BDC operators’ penchant for abusing guiding rules, Emefiele, on assumption of duties last year, initiated far-reaching reforms not palatable to the BDC operators reputed for cutting corners. To start with, the CBN governor slammed an unexpected policy aimed at instilling sanity into forex administration last year. It was a strategy that separated genuine BDC operators from the fake ones. Emefiele slammed a new cap-

CBN headquarters, Abuja. Inset: Emefiele

ing companies in October 2014. In January 2015, it carried out the Risk Asset Examination of 24 banks as at December 31, 2014. In the period under review, the bank commenced the implementation of the BASEL II Accord aimed at promoting financial system stability by ensuring that banks are adequately capitalised and have enhanced risk management systems. The consumer protection services offered by the apex bank have been deepened and strengthened to a higher level in the last one year. The apex bank under its consumer protection within the period has facilitated the refund of over N4 billion to bank customers based on resolved complaints following the Consumer Compliance Examinations and a spotcheck conducted on the banks.

ital base on the sub-sector, announcing a modified Bureau De Change Guidelines on June 23. The adjustment reviewed the minimum capital requirement from N10 million to N35 million. In the same manner, the mandatory cautionary deposit was reviewed to N35 million and must be deposited in a noninterest yielding account in the CBN upon the granting of an Approval-in-Principle. The apex bank also insisted that the compulsory membership of the Association of Bureau De Change Operators of Nigeria (ABCON) was no longer a requirement for the licensing of BDCs. Similarly, it reduced the weekly allocation of foreign exchange to BDCs from $50,000 to $15,000. Analysts however, insist that the CBN appear to be a bit confused in terms of its foreign exchange policies, which kept going back and forth. “But officials of the apex bank have defended the CBN’s actions, saying that the decisions we took were based on the intervention we had to do at a particular point in time.” Supervision of banks Supervision of the Deposit Money Banks (DMBs) is a routine duty enshrined in the statutory laws that established the CBN. On assumption of duty last year, the banking watchdog conducted a risk-based examination of all banks with high and above average composite risk rating in June 2014, and those with moderate and low composite risk rating in September. Among other examinations, the apex bank also carried out the foreign exchange examination of all banks last September as well as the routine examination of all discount houses and financial hold-

Analysts however, insist that the CBN appear to be a bit confused in terms of its foreign exchange policies

Adoption of harmonised CRR Desirous of stimulating financial market liquidity and spurring economic growth, the CBN in its last Monetary Policy Committee (MPC) meeting harmonised both private and public sectors’ cash reserve requirements (CRR) at 31 per cent. Previously, while the private sector CRR was 20 per cent, the CRR on public sector funds was 75 per cent. The latest MPC decision means that both CRRs have been unified at 31 per cent. Announcing the revised unified rate of 13 per cent for both sectors, Emefiele said MPC’s decision would help inject some liquidity back into the banking system. The CBN governor explained that the 13 per cent CRR was just a composite rate, explaining that the action would enable the CBN achieve the efficacy of the CRR rate regime. He said the MPC members

Other financial institutions/ devt financing Aside the supervision of conventional deposit taking banks, the CBN also regulates, supervises other development finance institutions (DFIs). Under his watch last year, CBN issued a final licence to the National Mortgage and Re-financing Company (NMRC) to commence operation in 2015 under the Housing Fund Programme (NHFP). The bank carried out further reforms of Primary Mortgage Banks (PMBs). Thirty two PMBs had fully capitalised as at June 30, 2014 while 10 others were given up to December 31, 2014 to recapitalize. Licences of 21 PMBs, which failed to recapitalise or had remained technically insolvent were revoked on November 12, 2014. Furthermore, the CBN partnered with the Federal Government and Development Partners to midwife the Development Bank of Nigeria that is envisaged to address the paucity of low interest and long-term funding for MSMEs in Nigeria. In the area of development financing, the CBN governor, as he rightly espoused in his maiden remarks a year ago, seeks to reposition the developmental financing initiatives of the bank along some very vita concepts. For project development, the sum of N152 billion was approved for five projects under the RSSF, while N213 billion Nigerian Electricity Market Stabilisation Facility (NEMSF) was earmarked for settling certain outstanding debts in the Nigerian Electricity Supply Industry (NESI). Under the fund, the sum of N56.68 billion has been disbursed to five generating companies and five distribution companies. The challenges Nonetheless, there are still areas where appreciable progress is yet to be made. The nation’s foreign reserves are not yet in comfortable zones sufficient to finance several months of export. The reserves, which stood at $29,306,866,31 as at last Saturday, can barely finance six months imports. Furthermore, the inflation rate is gradually edging up to a double digit zone and CBN had at various MPC meetings expressed deep concern about it. Similarly, the challenge of harmonising the fiscal policy, which is the exclusive preserve of the executive arm and monetary policy by CBN to impact positively on the economy remains a task that is yet to be accomplished.

Business |Money

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Scepticism hinders harmonised corporate governance code adoption

ust like the Enron and WorldCom scandals of the early 2000s that led to the passage of the 2002 Sarbanes-Oxley Act, the global financial crisis of 2007-2008 also resulted in regulators across the globe focusing on the soundness of existing corporate governance practices. In Nigeria, for instance, former Governor, Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, whose primary mandate was to tackle the country’s then raging banking crisis when he assumed office in 2009, frequently attributed the crisis to the failure of corporate governance in most financial institutions. He argued that unethical practices by leaders of the banks were the main reason why the lenders almost went under but for the intervention of the apex bank. Indeed, throughout Sanusi’s tenure, the CBN aggressively pursued measures to stem unethical practices in financial institutions in the country. Interestingly, one of such measures was giving banks a target date of December 31, 2010, to replace external auditors who had been appointed for more than 10 years. Need for harmonised code Thus, it did not come as a surprise to most industry watchers that when the FRC was established as the successor organisation to the Nigerian Accounting Standards Board (NASB) in 2011, the Council promptly identified the adoption of a national code of corporate governance as one of its immediate objectives. According to its mandate, the FRC is a unified independent regulatory body for accounting, auditing, actuarial, valuation and corporate governance. Commenting on the need for a harmonised code of corporate governance for the country, FRC’s Executive Secretary and Chief Executive Officer, Mr. Jim Obazee, contended that other existing corporate governance codes being used by regulatory bodies such as the CBN, the Securities and Exchange (SEC) and the National Insurance Commission (NAICOM) were merely “persuasive” codes compared to a national code of corporate governance, which is statutory. As he put it, “hitherto, we used to have persuasive codes, we didn’t have statutory codes. Since we didn’t have statutory codes, persuasion means that we are seeking your cooperation and we are in a society where doing right does not come naturally. So, when you are looking for persuasion, you are likely not going to get the desired results.” Besides, he said: “We have a persuasive code of the CBN for banks, we have that of the NAICOM for insurance companies; we have that issued by the Corporate Affairs Commission (CAC); the SEC and the Nigerian Communications Commission (NCC) also have their own codes and, of

But for a court injunction, which stalled the process, the Financial Reporting Council (FRC) of Nigeria would have on May 19 this year held a public hearing on the proposed National Code of Corporate Governance (NCCG), which it says is critical to the nation’s economic stability. But opinion is clearly divided in industry circles on the necessity of such set of rules, Tony Chukwunyem reports

CBN Governor, Godwin Emefiele

course, you have the one issued by the National Pension Commission (PENCOM) and these are non-mandatory.” He pointed out that the national code would have more impact on the economy than existing codes because it covers the private, public and not-for-profit sectors. The FRC boss also stated that in drafting the national code of corporate governance, it carried out a comparative study of the code and other international codes to ensure that it conformed to best practice and was similar to other such codes elsewhere. He disclosed that other leading countries on the continent such as Mauritius already had a national code of corporate governance. Other proponents of a national code also argue that there are areas of conflicts amongst the various existing codes, which usually result in reduced compliance by firms, stressing that a harmonised code would boost compliance. Opposing voices But the plan by the FRC to roll out a harmonised corporate governance code for the country has been strongly opposed in some quarters by those who argue that it would amount to the Council usurping the powers of other regulatory bodies. Criticism of the proposal heightened when the steering committee constituted by the Federal Government to develop the national corporate governance code completed work on the draft document and, on April 15th, exposed it for comments from stakeholders for 30 days. Specifically, reacting to the release of the draft document, former senator and the Chairman, UAC of Nigeria Plc, Senator Udo Udoma, faulted it on the

FRC’s Executive Secretary, Mr. Jim Obazee

FRC Chairman, Maryam Ladi Ibrahim

grounds that there was no onesize-fits-all approach to corporate governance. He was quoted by a national daily as saying: “The corporate governance rule you need for a major bank cannot be the same with what you require for a biscuit manufacturer or a company trading in sugar.” More significantly, he questioned the FRC’s powers to issue a national code of corporate governance.

Lack of political will on the part of government often allows some companies to escape punishment

Due Process However, speaking at a media briefing in Lagos where she revealed that the public hearing that was scheduled to take place on the national code of corporate governance at the end of the 30-day period of the exposure of the draft document, had been put off due to a court injunction, Chairman of the FRC Board, Mrs. Maryam Ladi Ibrahim, emphasised that the code of corporate governance was healthy for the country. She insisted that it would enthrone transparency and promote best practice, pointing out that the Council had consulted widely and followed the due process in drawing up the draft document and wondered why critics were opposed to it. Ibrahim said: “Professionally, when you have a standard to produce, we have due process to follow and it is that due process that we have been on in the past two years. All the stakeholders, including the big four audit firms that are internationally recognised were all involved right from the start. If all the stakeholders for over two years have been part of the process and observation, I don’t think they should have any problem with the code.” Weak enforcement capacity

Also, in a chat with New Telegraph, a financial analyst at August Investments Ltd, Mr. Victor Thomas, questioned the capacity of the FRC to ensure that companies comply with the provisions of a national code of corporate governance. He said: “Over the years, various regulatory agencies have adopted and revised codes of corporate governance and best practices, yet no real progress has been made. Obviously, the problem does not lie in a new set of rules but in the fact that the agencies lack the capacity to effectively monitor and enforce compliance by firms. I don’t think the FRC will be any different.” Thomas noted that even when regulatory agencies had the capacity to enforce rules, lack of political will on the part of government often allows some companies to escape punishment. According to him, “corporate governance codes have been incorporated into the rules of the stock exchange and compliance is a requirement for listing. But has this changed corporate behaviour? Highly connected and wealthy individuals will simply pull some strings in the corridors of power or hire Senior Advocates of Nigeria (SAN) to defend them in court.” Conclusion Although the FRC has pledged to ensure that the country has a national code of corporate governance, this will of course depend on if the courts decide in its favour. But as a top official of a first tier bank stated on condition of anonymity, “There is no final destination in trying to adopt a corporate governance code. It is a journey that never comes to an end because people will always find ways to get around rules.”

Business | Money

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

BVN: Banks gear up for last-minute rush CAVEAT

Non-compliant customers to be barred from transactions Tony Chukwunyem

ith less than three weeks to the expiration of the June 30 deadline for enrolment on the Bank Verification Number (BVN) platform, Deposit Money Banks (DMB) are taking steps to prepare for any last minute rush by customers, an investigation by New Telegraph has revealed. Visits to bank branches in Lagos shows that among measures introduced by banks to ensure that they are not overwhelmed by the expected large number of customers that would want to register for the exercise a few days to the expiration of the deadline, include sending fresh text messages and emails, reminding customers of the approaching deadline and getting customers who come into the banking halls to withdraw or deposit cash to register for the BVN before they are attended to. A dealer in electrical products, Pat Okonjo, told our correspondent that he was taken aback when he went into a bank’s branch on Mushin road

Isolo, recently, to lodge funds into the accounts of some of his suppliers. According to him, although he had his BVN, the cashier insisted that he had to write the BVNs of the suppliers on the deposit slip before the cash would be accepted from him. He said that he had no choice, but to phone the suppliers who fortunately had done their registration and immediately sent him their BVNs via text messages. He said: “I was not happy about the request

because I have done my BVN registration and I did think it was not my business whether my suppliers had theirs or not. But I really needed to lodge in those funds and fortunately, I got them on the phone and they had their BVNs, which they quickly sent to me.” This newspaper also gathered that in order to register more customers for the BVN scheme, some banks either announced commencement of banking operations in selected branches on Saturdays

or for banks that were already carrying out Saturday banking, extended the opening hours on such days. A bank official at one of the branches visited, who asked not to be named, said that although the branch had met its target for the number of customers it should register for the project, they were still going all out to ensure that they registered as many customers as possible. “You know banks have their targets on the number of customers they

should register for the BVN. Although we have met our target at this branch, we are not relaxing yet because we want to ensure that every customer of the bank is registered,” he stated. As part of efforts to boost banks’ compliance with the BVN policy, the CBN had directed lenders to enrol 40 per cent of their customers on the BVN platform by December 31, 2014, and 70 per cent by March 30, 2015. Also, the apex bank directed banks to only

honour transactions over N100 million from customers with BVN effective March 2015. More significantly, however, the regulator advised bank customers to register and get the BVN by June 2015, warning that customers without the BVN would be deemed as having inadequate KnowYour-Customer requirement at the expiration of the deadline. This could lead to the barring of such customers from carrying out some banking transactions.

L-R: Social Secretary, Oxford and Cambridge Club of Nigeria, Mr. Kunle Adebiyi (back); Member, Prof. Bomi Ogedengbe; Former Minister of Foreign Affairs, Prof. Bolaji Akinyemi; Former Education Minister, Dr. Obiageli Ezekwesili; President of the club, Mr. Akinfela Akoni; Vice President, Mr. Uche Okoli and Vice-President II, Dr. Timi Austen Peters, during the club’s May Ball, entitled ‘Highlife,’ in Lagos.

llicit Financial Flows (IFFs) arising from crime, corruption and tax evasion have compounded poverty in the world’s poorest countries, according to a new study released by Global Financial Integrity (GFI), a research and advisory organisation based in Washington, DC. The study also finds strong correlations between higher illicit outflows and higher levels of poverty and economic inequality. GFI’s Managing Director, Tom Cardamone, said, “Illicit financial flows have an outsized impact on the poorest countries in the world. The value of this study is that it goes beyond ‘the big number’ of cumulative global illicit outflows and focuses instead on the impact of IFFs in the poorest of places. A lot of attention gets paid to the massive amount of illicit money flowing out of China, Russia and other major emerging markets. “However, on a relative basis, when you compare illicit financial flows to major development indices like GDP, FDI and total trade, it becomes extremely clear that illicit outflows take a particularly devastating toll on the world’s poorest economies.” Authored by GFI Junior

Illicit capital flight worsens poverty –Research Economist, Joseph Spanjers and GFI Economics Fellow, Hakon Frede Foss, the report compares illicit outflows from the world’s poorest economies to some traditional indicators of development - including GDP, total trade, official development assistance plus foreign direct investment, public expenditures on education and health services and total tax revenue, among others - for the years 2008-2012, the most recent fiveyear period for which data are currently available. “For nearly one-quarter of the 82 countries that we analysed, the ratio of illicit financial outflows to GDP is 10 per cent or greater,” commented Mr. Spanjers, the principal author of the report. “For example, IFFs to GDP amount to a staggering 21.7 per cent in Honduras, 18.1 per cent in Zambia, and 11.2 per cent in Ethiopia. It would not be overstating the point to note that, if any other economic factor had a double-digit ratio to GDP, it

would be front-page news. Unfortunately, this is often not the case when illicit flows are concerned,” he added. The authors additionally find what they described as a disturbing correlation between illicit financial flows and higher levels of poverty; higher levels of economic inequality and lower levels of human development, as measured by the UNs’ annual Human Development Index. “Higher illicit outflows aggravate poverty, exacerbate income inequality and erode human development in the world’s poorest countries,” added Mr. Spanjers. Additional correlations are found between higher relative levels of illicit financial flows and trade openness, tariff rates, and the efficiency of customs. The study lays out several policy recommendations, and puts a particular emphasis on the outcome of next month’s Third Financing for Development (FfD) Conference in Addis Ababa.

‘MFBs lending to more females than males’

emale entrepreneurs in 16 subSaharan African countries have been found to be more likely to access credit from MicroFinance Banks (MFBs) compared to their male counterparts. This is according to a research conducted by an Economist at the Department of Economics, University of Copenhagen, Professor, John Rand. The survey, which examined the credit accessibility among male and female manufacturing entrepreneurs shows that small enterprises owned by females in sub-Saharan Africa are more likely to be given credit compared with their male counterparts. The study indicated that Micro Finance companies are giving credits to female entrepreneurs not necessarily because

of their competencies or their profit rates, but on gender favouritism. Professor Rand, an Economist at the Department of Economics – University of Copenhagen, said that Micro Finance institutions have deliberately been targeting female operated firms – a phenomenon he argues could set a bad precedence since the playing field has been made unequal. He wants financial institutions to make credit available to manufacturing firms devoid of their demographics. According to him, access to credit should be based purely on efficiency, long-run economic growth. He emphasised that resources should be allocated the best possible way to the most efficient firms.

Business | The Investor

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

Concerns over new rule for stocks Chris Ugwu

nitially, when companies approach the equities market for listing of their shares, the nominal value quoted is usually 50 kobo as against the actual price they are being sold to the investing public. Currently, shares of most companies admitted on the official list of the Nigeria Stock Exchange (NSE), rather than appreciate in value, have remained relatively stagnant ,even as a larger percentage of the companies have remained at the nominal prices of 50 kobo at which they were quoted on the market. Since the crash of the nation’s capital market in 2008, negative perception had trailed investment in the nation’s capital market. The low sentiment in the market was worsened by the upset in the financial market arising from drop in oil price, insecurities, build up to 2015 elections, Ebola crisis, recapitalisation fever, among others. Financial analysts believed some of these factors sent a shock wave to both local and foreign investors and created uncertainty in the investment environment, which led to retreat on the part of the bargain hunters. The decimal performance earned the local bourse third worst performing stock market in the world during the 2014 financial year. According to financial analysts at Daily Telegraph London, the Nigerian bourse recorded 33 per cent loss to earn third position among the 10 worst Exchanges in the world. However, in keeping to its regulatory role and finding solutions that would boost investors’ confidence and liquidity to the market, the Securities and Exchange Commission (SEC) has approved downward review of par value rule for stocks to be traded as low as 1 kobo. The National Council of The Nigerian Stock Exchange (NSE) submitted this proposal to the commission on 5 March 2015. The approval, which was given on June 2, 2015, was sequel to the draft rule submitted (for stakeholders’ comment) by the Rules and Adjudication Committee of Council of the NSE on October 21, 2014. The rules On March 28, 2013, the Council of the Exchange approved a number of new rules and amendments to the “Rules Governing Dealing Members,” in the section that addresses “Trading” (the Rules). The new rules approved include the Order Entry & Execution Rule, Obvious Error Rule and Churning, Fictitious or Deceptive Trading Pattern Rule. In addition, Policy No 01 NSE, which provides penalties for breach of rules governing dealing members, was also amended. Dealing Member

SEC DG , Mounir Gwarzo

Firms made the Amendment in respect of the rule penalising unauthorised sales of clients’ securities. However, article 100 of the new rules contains amendments to the provision on pricing methodology. It provides that securities shall trade in price increments of 10 Kobo. It makes provisions for determining the opening and closing prices of securities on any trading day, price movements and price limits and small trades. The rule states that notwithstanding its par value, the price of every share listed on the Exchange shall be determined by the market and that no share shall trade below a price floor of one kobo per unit (N0.01). Par value is the nominal value of a share as stated in the Memorandum of Association of an Issuer. “Price floor” means the amount below which the price of one unit of a share shall not be permitted to trade and the minimum amount, which must be paid for a share in the event of a drop in the unit price of that share. According to the Management of the NSE, the objective of the Exchange in embarking on this exercise was to improve and update its rules and raise them to international standards. It strives to do this by enacting provisions that enhance the transparency of The Exchange’s operations - through which it aims to sustain and promote stakeholder confidence in the Nigerian capital market. Operators’ reactions Though the NSE is yet to officially communicate when the implementation of the rule will commence, market operators have expressed worry that the new rules may not add the much needed value that would lift the equity market.

NSE CEO, Oscar Onyema

The crucial thing the market needs at the moment was to restore investors’ confidence

The Managing Director of Perfecta Securities Limited, Mr. Emma Eze, said the approval would not provide the much needed tonic to stimulate the market. He noted that the crucial thing the market needs at the moment was to restore investors’ confidence, adding that most investors got their fingers burnt during the near collapse of the market. “This type of cosmetics is not what investors need for now, what investors need is for the regulators to find everything possible to bring back investors’ confidence in the market,” he said. He also called on SEC to put aside the recapitalisation of stockbroking firms currently being pursued by the commission and first restore investors’ confidence. “SEC should put aside the recapitalisation process for now, the issue of new capital requirement will not reactivate the market, what will reactivate the market is restoration of investors’ confidence. Local investors’ confidence is number one because foreign investors are not helping the market. What concerns foreign investors is profit. Recapitalisation would be easier to embark upon if there is positive sentiment in the market,” he said. Managing Director, Lambeth Trust and Investment Company Limited, Mr. David Adonri, said he needed time to study the development. He nonetheless, noted that all the shares will have to be revalued along one kobo metrics. “However I don’t know whether it will affect the incoming shares. The information is still sketchy. I don’t want to comment further until I study the situation,” Adonri

said. A stockbroker, who pleaded anonymity, said the amendment is not good for the market. He said the initiative could sink the stock market, adding that investors will no longer have interest in those stocks that trade at par value. Chair man Prog ressive Shareholders Association, Mr. Boniface Okezie, said reduction of nominal value of share from N0.50 kobo to N0.10 kobo is a decision that can collapse stock market. He said regulators are sending the wrong signals to investors, which may cause panic selling. He said the decision will further crash equities. “Nobody will have interest in the regulator and market again. Those companies can come back alive with N0.50 kobo but the moment they drop to N0.10 kobo nobody will show interest. “What this mean is that we will be seen companies delisted from the market because regulators are neither protecting their interest nor that of the investors,” he stressed. Conclusion In as much as the objective of the Exchange in embarking on this exercise was to improve and update its rules and raise them to international standards, it is also advisable that the regulators weigh the initiatives and rule changes about how the stock market functions. They should also ensure that the rules are ones that will help the market operate openly, fairly and efficiently to benefit investors and promote capital formation instead of that which will spark up controversies, which may increase the market woes.

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

India exports N536bn goods to Nigeria p.36 After its failure to take off five years ago, stakeholder are calling on the Federal Government to establish a maritime bank to enable indigenous ship owners access long time funds in the custody of the Nigerian Maritime Administration and Safety Agency (NIMASA), BAYO AKOMOLAFE reports

Maritime

Customs command generates N2.3bn p.37

Nigerian shipowners seek establishment of maritime bank

aritime experts and stakeholders under the umbrella of the Nigerian Shipowners Association (NISA) have called for the immediate establishment of maritime bank in the country. The bank, which was originally scheduled to take off in 2010 at the instance of Maritime Organisation of West and Central Africa (MOWCA), was stalled following the inability of its Secretary-General, Mr. Magnus Addico, to brief a former Minister of Transport, Alhaji Yusuf Suleiman, on its modalities and time frame. This was after over N30 million has been wasted to secure properties to accommodate the staff of the proposed bank in Abuja. According to MOWCA, the bank was expected to fast-track the development of maritime within the African continent, especially in the West and Central sub-regions. Fresh call In a fresh move, Capt. Niyi Labinjo, the suspended president of NISA, said that maritime bank would be a developmental bank which gives room for long time loan. He explained that the establishment of the specialised bank was inevitable if Nigeria was serious to fully realise the potential of the maritime sector. Labinjo noted that a development bank had long-term funds, which a commercial bank does not have.

NIMASA’s arrangement He noted that the current arrangement under the NIMASA’s Cargo Vessel Financing Fund was designed to fail. Labinjo explained: “Since 2003, they have not been able to disburse the CVFF, because structurally it was designed to fail and has therefore failed. The structure of the finance is such that the commercial bank is asked to provide 85 per cent literally and the investor 15 per cent. “NIMASA required the bank to provide a bank guaranty for

An oil tanker, MT Agros moored at Folawiyo jetty in Lagos.

the 50 per cent that NIMASA is contributing. So, invariably, the bank has provided 85 per cent and that is why it has never worked. You are asking the bank to provide 85 per cent of funding of a maritime equipment, which requires long term gestation to repay. “The commercial banks have short-term money and you are also insisting that they must also do it at an interest rate of single digit. So, this is not possible. A development bank will accommodate all that and that is why we need a maritime bank.’’ Financial support He said that shipping matters were time sensitive and that lack of financial support from government had contributed to the collapse of business of indigenous ship owners. Labinjo stressed: “Nigeria is still far from real financing of maritime investments because what our banks can do is only short term provision of loans. When our banks give only five years payback period, you have already built in failure. “There should be a maritime bank with a template for maritime lending as they have in Greece, Norway, Sweden, Egypt, Indian and a handful of others.” Echoing him, Chief Bestway Ose, a NISA member, said that commercial banks’ short-term loan was not profitable for ship-

The commercial bank is asked to provide 85 per cent literally and the investor 15 per cent

ping business. He noted that there were maritime banks in some countries like Turkey, saying that China had a bank of infrastructure and a bank of building. Ose said that Nigeria should be able to have similar bank for the maritime industry. Also, the Rector of the Certified Institute of Shipping (CIS), Professor Alex Okuwashi, urged the National Assembly to enact a law that would lead to the creation of more specialised banks for the industry. He said that the maritime industry was a huge, capital-intensive sector that needed the support of government for funding. The rector explained that maritime bank should be funded by government in order to give the required support for infrastructural development of the sector. He commended the establishment of a maritime micro finance bank, but said that a full-

fledged bank must be created to help fund the industry. Past experience In 2010, when the Federal Government planned to establish a Regional Maritime Development Bank (RMDB) in Abuja, a committee was set up to ensure the success of the bank. The terms of reference of the committee included to recommend a consultant for the MOWCA bank project; draft headquarters agreement between MOWCA and the Federal Government; recommend office accommodation for the bank; establish secretariat for the project, as well as convene a second meeting of committee of experts in Abuja. Others were to examine all issues on the implementation status of the recommendations of the committee of experts and proffering any other recommendation considered relevant to the success of the MOWCA bank project in Nigeria.

Shipyard secures $330m oil tanker deal

amsung Heavy Industries Company has secured a $330 million deal to build three oil tankers. It has also secured orders worth $2.9 billion to build 10 container ships and other specialty ships

so far this year. The three vessels will be delivered by next February, the company said in a statement. The vessels are each 293 meters long and 49 meters wide, according

to the shipyard. With the latest deal, the company had secured deals to build 43 oil tankers, accounting for some 38 per cent of the total orders placed around the globe for such ships.

Business | Maritime

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

India exports N536bn goods to Nigeria BILATERAL TRADE India is currently Nigeria’s largest trading partner

Stories by Bayo Akomolafe

ndia has exported goods valued at N536 billion ( $2.68 billion) to Nigeria in the last

one year. Some of the exports are rice, chemicals, pharmaceutical drugs, tricycles, paper and paperboard, articles of pulp, paper and board, electrical, electronic equipment, boilers and machinery The goods were imported between April 2014 and March 2015. It was also learnt that imports from Nigeria, comprising mainly crude oil, stood at $13.68

billion. India’s exports to Nigeria in the last few years had grown from $1.08 billion in 2007 to $2.66 billion in 2014. The country’s exports to Nigeria were valued at $875 million between 2005 and 2007, 2017, $1,443.21 and 2008, $1,011.75. It was revealed that total trade between the two countries from 2013 to 2014 was worth $16.67 billion.

According to the Indian High Commissioner to Nigeria, Ambassador, Ajjampur Ghanashyam, the bilateral trade volume between India and Nigeria was estimated at $16.36 billion. “This indicates that despite a 50 per cent fall in oil prices in the second half of 2014, there has only been an insignificant difference over the two years in terms of trade,“ he said.

He explained that India’s rice exports to Nigeria declined from $339 million in 2012 and 2013 to $78 million in 2014 due to increase in import duty and enhanced local production of rice. Ghanashyam said that both countries shared significant relations, adding: “Nigeria is India’s largest trading partner in Africa and India is Nigeria’s largest trading partner in

the world.” He said that India was also the largest importer of petroleum crude oil from Nigeria and also the largest expatriate employer of labour in Nigeria. Ghanashyam added that India sought to enhance its relations with the Federal Government in the areas of agriculture, creating small and medium enterprises, power and developing innovation.

Mandatory gas-fuelled ship code for adoption

he International Maritime Organisation’s Maritime Safety Committee (MSC) has resolved to adopt a new mandatory code for gas-fuelled ships. MSC will also consider cyber security matters, passenger ship safety and hold a special session on unsafe mixed migration by sea this week. The committee is expected to adopt the draft International Code of Safety for Ships using gases or other low-flash point fuels under the International Convention for the Safety of Life at Sea (SOLAS). It was learnt that the use of gas as fuel, particularly liquefied natural gas (LNG), has increased in recent years. The code aims to minimise the risk to the ship, its crew and the environment, having regard to the nature of the fuels involved. International Code of Safety for Ships using Gases or other lowflashpoint Fuels (IGF Code) will provide mandatory provisions for the arrangement, installation, control and monitoring of machinery, equipment and systems using lowflashpoint fuels, focusing initially on LNG. The MSC will also be invited to adopt related amendments to the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW), to include new mandatory minimum requirements for the training and qualifications of masters, officers, ratings and other personnel on ships subject to the IGF Code.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Customs command generates N2.3bn in four months ILLEGAL Smuggling thrives in Ogun State Stories by Bayo Akomolafe

igeria Customs Service (NCS), Ogun State Command, has generated about N2.36 billion revenue within the first four months of this year. Its Area Controller, Haruna Mamudu, said that the amount was an improvement on the N1.99 billion generated in the corresponding period

of 2014. He explained that the command made 361 seizures with Duty Paid Value (DPV) of N319.97 million during the period. The controller added that the seizures were lower than the 485 seizures with DPV of N508.94 million recorded in the same period in 2014. He attributed the decrease in the seizures to the enhanced vigour with which the antismuggling campaign had been pursued since the beginning of the year. Mamudu said that the command seized a large consignment of Indian hemp, weighing 1,259 kilogrammes at

Imeko, a border town between Nigeria and the Republic of Benin. He stressed that the illicit substance was seized from the traffickers following a tipoff, noting that they had been handed over to the officials

of the National Drug Law Enforcement Agency (NDLEA). The controller stressed that there was a good working relationship among the various security agencies in their fight against crime. Mamudu explained: “The

command is not relenting in its anti-smuggling drive and we shall pursue it with more vigour and determination. “This will help us to achieve our objective of reducing smuggling to the barest minimum in Ogun State.”

Maersk Line orders $1.8bn container vessels M

aersk Line has signed a new building contract with Daewoo Shipbuilding & Marine Engineering (DSME) to build 11 container vessels. The $1.8 billion contract was signed by Mr Sung-Leep Jung, President and chief executive officer of DSME, and Mr Søren Skou, chief executive officer of Maersk Line, at a ceremony at Maersk Line’s headquarters in Copenhagen. The 11 new vessels will join Maersk Line’s fleet between April 2017 and May 2018. They will sail under Danish flag. This is the second newbuilding order in Maersk Line’s investment programme, following the seven 3,600 TEU feeder vessels announced earlier this year. The shipping line is also making moves for six optional second-generation Triple-E container vessels with a capacity of 19,630 twenty-foot equivalent each. Each of the vessels will have a length of approximately 400 metres, width of 58.6 metres, and a 16.5 metres draft. In the next five years, Maersk Line is planning to

invest $15 billion in new-buildings, retrofitting, containers and other equipment. The company’s Chief Operating Officer (COO), Mr. Soren Toft, said: “I am very happy with this order. These vessels will help us stay competitive in the Asia – Europe trade and will be key in our strategy to grow with the market. It is the second order this year and we expect to order more vessels, which we can add to our fleet from 2017 and onwards.” The new vessels will be the largest in Maersk Line’s fleet and are intended for the Asia – Europe service. The vessels will replace smaller, less efficient vessels. Maersk Line has a long and close relationship with DSME. Most recently, DSME built the pioneering Triple-E vessels. The last will be delivered in June 2015. Toft added: “I am very confident placing this order with DSME. The company has a very good track record. Together we can leverage our Triple-E experiences to further improve performance, not least energy efficiency.”

Council gives scholarship to 300 freight forwarders T he Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) said that it would give scholarship to 300 freight forwarders in order to enhance their skills. Deputy Director, Education, Research and Training of the Council, Mr. Alban Igwe, said that the scheme was created to enable practitioners take advantage of the available training programmes. He said: “The scholarship scheme is a gesture from CRFFN and it is made for 300 candidates based on the resources available to stimulate practitioners to begin their training. “It is open for freight forwarders who are already in the business, but who lack the

capacity. Such ones can take advantage of any of the training programmes in all our accredited training institutions to improve their knowledge of the industry and, compulsorily, they have to take in the knowledge because if they don’t, they will be thrown out of business.” Igwe noted that only a few practitioners had indicated interest to benefit from the scheme. He advised those who are yet to key into the scheme to do so. Igwe warned that enforcement against unqualified practitioners would be strictly based on qualification, which, he said, would be measured by knowledge.

The Nigerian Maritime Administration and Safety Agency (NIMASA)’s patrol boats anchored at Tin Can Island Port.

Shipowners sack Labinjo as president

he general assembly of the Nigerian Shipowners Association (NISA) has ordered its president, Capt. Niyi Labinjo, to step aside until he clears his name with the Economic and Financial Crimes Commission (EFCC). Labinjo had been enmeshed in a $5.85 million ship purchase scandal with an indigenous shipping firm, Accenk Maritime and Energy Services Limited. The members, who unanimously agreed that Labinjo stepped aside, however, asked the second Vice President of the association, Alhaji Aminu Umar, to take over in acting capacity pending when Labinjo clears his name with the EFCC. However, the acting president said that the decision asking Labinjo to step aside was taken in the best interest of the association. He explained that the association had received letters from various agencies of government, which threatened not to deal with the association if Labinjo

remained its president. Umar said: “The decision was not to witch-hunt Labinjo, but was taken in the interest of the association. We have therefore decided that the president should step aside to allow him concentrate on clearing his involvement in this allegation and to allow the association focus on its aims and objectives.” The acting president explained that Labinjo had not been sacked or suspended from the association, but was only asked to step aside from the office of president so that the bandwagon of the scandal would not rub off on the association. Umar stressed: “We have reiterated that anytime he comes with a letter from the anti-corruption agency stating that he had cleared his name, he would be reinstated immediately as president.” General-Secretary of the association, Mr. Tunji Brown, also noted that the executive had set up a committee made up of shipowners and ship finance experts

to review all information at their disposal and that Labinjo was indicted by the committee. He explained: “Before the executive took the decision on Labinjo to step aside, we set up a committee made up of shipowners and ship finance experts to review all information at our disposal and Labinjo was indicted. “We saw that he was involved from all the transactions and movement of funds from his account.” The NISA scribe said that the association would not have intervened in the failed business deal because it was a private business, but the fact that the company petitioned the association, the Federal Ministry of Transport, Nigerian Shippers Council, Nigerian Maritime Administration and Safety Agency, the Nigerian Ports Authority and the EFCC got them involved. He also said that the botched deal had a toll on NISA members as banks were skeptical about doing business with them.

NPA appoints General Manager for Western Ports

igerian Ports Authority (NPA) has appointed, High Chief Michael Kayode Ajayi as the new General Manager, Western Ports. He takes over from Ms. Adenike Sonaike who retired from service in 2014. Ajayi, a holder of three traditional titles and a Fellow of the Nigerian Institute of Management (FNIM) and Fellow Certified Institute of

Shipping of Nigerian (FCIS) attended Obafemi Awolowo University, Ile-Ife and the University of Ibadan where he bagged Bachelor of Arts degree (Combined Honours) in Political Science and Philosophy and Master of Science in Public Administration. Before the new appointment, he had served in various capacities at NPA

as general manager, Administration and general manager, Public Affairs. He is the Chief Patron of Lagos Referees Association and has received several awards and honours in the course of the discharge of his duties, including the outstanding image-maker award of the Maritime Reporters Association of Nigeria (MARAN).

WEDNESday, JUNE 10, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Photo | News 39

L-R: Delta State Deputy Governor, Mr. Kingsley Otuaro; Governor Ifeanyi Okowa and Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Patrick Akpobolokemi, leading a courtesy visit to the Delta State Government and the Governing Council of the Nigeria Maritime University in Asaba.

L-R: Speaker, Ogun State House of Assembly, Hon. Suraj Adekunbi; Governor Ibikunle Amosun; his Deputy, Mrs. Yetunde Onanuga and the newly elected Deputy Speaker, Hon. Kunle Oluomo, after the inauguration of the 8th Assembly in the chambers of the House in Abeokuta.

L-R: Osun State Governor, Rauf Aregbesola; Saudi Arabia Envoy, Mallam Ali Naji; Mr. Kola Kola Wasiu Omotunde-young and former Commissioner for Local Government and Chieftaincy Affairs, Mr. Kolapo Alimi, during a prayer session for stability in the state in Osogbo.

Former Adamawa State Governor, Mr. Bala Ngillari, sympathising with a victim of the recent Jimeta Market bomb blast at the Federal Medical Centre, Yola.

Newly elected Speaker, Enugu State House of Assembly, Chief Edward Ubosi (left), taking Oath of Office before the Clerk of the House, Sir Amadi Chukwurah, at the inauguration of the 6th stateâ&#x20AC;&#x2122;s Assembly in Enugu.

General Overseer, Christ Healing Evangelical Church, Pastor Samuel Babatunde Ogunfowokan (left), with the Senior Pastor, Ketu Headquarters, Pastor Olajide Omotoso, at the churchâ&#x20AC;&#x2122;s international convention at the Loburo, Mowe Camp Ground, Ogun State.

Resident Representative, Konrad Adenauer Stiftung, Ms. Hildegard Behrendt-Kigozi (left) with the Director-General, National Orientation Agency (NOA), Mr. Mike Omeri, at an advocacy visit by Stiftung in Abuja.

L-R: Chairman, Police Service Commission (PSC), Sir Mike Okiro; Commissioner for Media, South-East Zone, Dame Comfort Obi and Commissioner for Women Affairs, Hajia Aisha Tukur, at a news conference on the alleged N275 million fraud rocking the PSC, in Abuja. PHOTO: NAN

40 Politics

WEDNESDAY, JUNE 3, 2015 NEW TELEGRAPH

Why Osun is in financial difficulty, by Aregbesola CONTINUED FROM PAGE 17

retired at the local government to enlist in the local government pension brigade. By the time we started defaulting in 2014, we had already committed a total of N4.9 billion to pensions. It is on record that I was the first to raise the alarm in 2013 that the mysterious drop in allocation amounts to waging war against the states. I was vilified then by a section of the press and the Federal Government was not even ready to listen to

our cry. No fiscal instrument of succour in stabilisation, augmentation and other assistance was extended to us, even as our allocation continued to drop. It was like they were mocking us by saying: ‘Good for them, their financial ruination will make us to easily defeat them in the coming elections’. But we survived this by the infinite grace of God and the unflinching support of our people to emerge triumphant in the governorship election of 2014 and the general elections earlier this year.

Distinguished honourable members of the House, you are coming in at a time of great challenge, but with great challenge also comes an opportunity for greatness. While our capital expenditure for the period we are reviewing was N85.3 billion, our total recurrent expenditure was N206 billion of which emoluments alone constitute N120.4 billion (58.5 per cent). This makes capital expenditure only 29.3 per cent of our total expenditure. This is anomalous and

calls for creativity and astuteness in raising our revenue profile, balancing our books and reverse the capital-recurrent expenditure ratio, in order to bring development to our people and justify the mandate given to us. We have been able to shock and awe our opponents, critics and traducers in the past four years with outstanding performance in all areas. We were able to do this partly because we got facilities from bonds and loans at favourable terms but we still have an outstanding

debt of N75 billion. Our outstanding mandatory expenditure in salaries and pensions for 2014 is N13.1 billion. Between January and May this year alone, we have accumulated mandatory expenditure of N16.5 billion in arrears. But we must run the government, provide infrastructure, develop our people through qualitative education, good healthcare services provision and recreation facilities and bring prosperity through job creation and enabling entrepreneurs. The parliament is the

first refuge of the people because it is composed of lawmakers elected directly to represent their constituencies – make good laws for their governance, secure their welfare and protect their interest. It is from parliament, though under a parliamentary system, that Chief Obafemi Awolowo launched on January 7, 1952 the welfarist and progressive government that kick-started the second stage of Yoruba civilisation with the attendant prosperity and development of Yorubaland in all facets. This challenge is therefore your opportunity to be great and write your name in gold, irrespective of your political party. The parliament is also noted as a symbol of the legitimacy of government as expressed in its support by people paying tax. James Otis, it was, who said that taxation without representation is tyranny. This was in protest of the British occupation of the Americas and forcible exaction of taxes from the subjects without political representation at the British Parliament. This led to the rebellion that culminated in American independence in 1776. The converse of this principle is that if it is immoral to exact taxation without representation, by the same token, it will be inappropriate to have representation without the supporting taxation. The time has come for our people to brace up and support the government with their taxes. Indeed, the only way we can survive, or any government for that matter, is to generate our own revenue and be self-sufficient. Long before this crisis came, I was the first to make the case for selfreliance and severance of our dependency on allocation from Abuja. We have abundant human and material resources and we can sustain ourselves if we look inwards. The difficult can be done at once; while the impossible only takes a little longer. This is our finest hour. We will overcome this challenge. We will fulfil our mandate. We will serve our people. God, who was with us in our first term, will not desert us. We will emerge from this triumphant and stronger and our people will have cause for singing and rejoicing. Finally, let me thank the honourable lawmakers – the returning members, the outgoing ones and new members. I wish you a successful tenure and good service to your people and the state.

Politics 41

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

How Saraki outsmarted APC CHUKWU DAVID gives an insight on how Senator Bukola Saraki defied his party, the All Progressives Congress (APC) to emerge Senate President of the eighth National Assembly inaugurated yesterday

he struggle for the control of the Eighth Senate by the All Progressives Congress (APC) could be better described as a battle between two political giants in which the stronger force overcame. It was initially a purely intra party affair but at the very last minute, it expanded and became an intra cum inter party matter. After the APC snatched power from the Peoples Democratic Party (PDP) in the March 28 and April 11, 2015 general elections, the expectations of most Nigerians was that it would also go ahead and form the leadership of the two Houses of the National Assembly – Senate and the House of Representatives. However, godfatherism crept into the matter and it turned into a battle for the survival of the fittest. Formerly, there were five senators elected on the platform of the APC, who were jostling for the office of the President of the 8th Senate. They include Senators Ali Ndume (APC Borno), Bukola Saraki (APC Kwara), George Akume (APC Benue), Ahmed Lawan (APC Yobe), and Danjuma Goje (APC, Gombe). They are ranking members of the Senate and therefore were all qualified to contest. It was first speculated that the APC leadership had zoned the position to the North Central. Later, they threw it open to both North Central and the North-East. Political analysts said that the national leader of the party and former governor of Lagos State, Bola Tinubu, wanted the slot to go to the North Central and precisely to Akume but the President and Commander-in-Chief, Muhammadu Buhari, wanted the office to go to the North-East, and to Senator Lawan in particular. However, as time went on, it was observed that it was difficult for the party leadership to come up with official position on any agreeable zoning formula because some of the political godfathers to some of the contenders silently maintained rigid and resolute stands on their choice of zones and individual candidates for the National Assembly plum job. According to reports, it was stated that none of the other three candidates has the backing of either the party leadership or individual godfathers within the party. Analysts say that two of them (Saraki and Goje), who were governors of their respective states in the past have unfinished cases with the Economic and Financial Crimes Commission (EFCC), while Ndume was some time ago linked with having some secret

Saraki

dealings with the Boko Haram Islamic terrorists ravaging the North East. This, according to insinuations, made it difficult for the leadership or prominent members of the party to give the trio an iota of consideration for the plum job. Meanwhile, the situation did not deter Saraki, who refused to wait for anybody to support him or announce him as the choice candidate of the party. He resolved to take his destiny in his own hand, leaving no stone unturned in making himself relevant in the race to the high office. As time went on, Saraki started receiving more support from other APC Senators-elect than his opponents. In the course of the struggle, two camps emerged, jostling for the office of the Senate President. There was the Saraki camp and the Lawan group. Goje did not at any time openly announce his interest in the race. Rather, he was later seen canvassing support for Saraki, despite the fact that he hails from the North-East, the same geo-political enclave with Lawan. Having seen that the battle was not going to be easy, the four major contenders decided to go into alliance. Akume stepped down and queued behind Lawan as his running mate. Not quite long ago, the pro-Saraki/Ndume group claimed to have mobilised about 70 senators for the duo’s Senate presidency project before the earlier proposed arrangement by the party hierarchy to organise a primary election for the contenders broke down. Since that time, what played out on in the two camps was scheming, horse trading, propaganda and all manner of claims of numerical dominance of supporters. Those in support of Saraki/ Ndume group were of the view that, if APC zones the office of the Senate Presidency to the North Central, it should be Saraki and if it is zoned to the North East, then the group should throw its weight behind Ndume. The argument in favour of the two legislators is that they do not have godfathers like

Saraki... embarked on a lonely walk towards contesting for the Senate Presidency against all odds

the other group. On the other hand, Akume and Lawan also reportedly agreed to work together. But unlike Saraki and Ndume, Akume and Lawan are known to have godfathers. Their colleagues were afraid that the National Assembly will be under the control of the outsiders instead of the legislators themselves, if their leaders are products of external influences. Their fear was that, in a situation where those with godfathers emerge as presiding officers, they will naturally have to consult their godfathers before major decisions are taken, including appointment of standing committee chairmen. This was an issue most of the legislators considered unacceptable. Akume and Lawan were allegedly backed by Tinubu, President Buhari, as well as the President of the Senate, David Mark. The party, bent on imposing its preferred candidates threw its weight behind the candidacy of Lawan and Akume at the expense of Saraki who was not in the good books of APC leaders. It was also gathered from findings that the party in its selection of candidates for high offices in the National Assembly, tactically rejected the candidacy of party members in both chambers who constituted the new PDP during the heat of the crisis that rocked the PDP. Rather than subject its consideration of candidates to a free and fair process, sources disclosed that the leadership of the APC gave first preference to party members from the defunct Congress for Progressive Change (CPC), Action Congress of Nigeria (ACN), and All Nigeria People’s Party (ANPP) to the detriment of members who came from the new PDP. For instance, the President was selected from the fold of CPC, Vice President and National Chairman from ACN. In a bid to pacify the fold of the ANPP, the party leadership decided to compensate the section of the party by giving the Senate Presidency to Lawan. Explaining its decision to zone

the Senate Presidency position to the North-East, the party through some leaders from the geo-political zone argued that since the seat had been held by Senator Mark for eight years from North Central, it was time for same to go to the North East. Saraki sensing the abandonment he faced from the leaders of the APC, embarked on a lonely walk towards contesting for the Senate Presidency against all odds. Unknown to the APC, a formidable alliance between members of the new PDP within the APC, and senators-elect belonging to the PDP grew into a conspiracy set to undo the fortunes of the new ruling party in the Senate. Apparently coming to terms with the resilient and rising opposition from the Saraki camp which lured a sizeable number of APC senators, the leadership of the party embarked on a move to intimidate senators-elect whose loyalty was pitched with the embattled candidate. As part of moves to see its imposition agenda through, the APC leadership over the weekend in a bid to rattle the Saraki camp organised a mock election which led to the defection of some senators backing the lawmaker. The move, which annoyed the Saraki camp, was reciprocated by the group when on Monday night the ‘Senators of Like Minds’ shunned an invitation by Vice-President Yemi Osinbajo to intervene in the situation which had escalated beyond the party’s control. But things however took a swift turn for the worse during the early hours of yesterday morning, at about 1:30a.m., when the PDP dealt a fatal blow on the APC. In a three-paragraph statement signed by PDP National Publicity Secretary, Olisa Metuh, on Tuesday morning, the party urged its members in both chambers of the National Assembly to vote for Saraki and Yakubu Dogara for the two positions. The APC, thrown into a state of confusion, immediately summoned a meeting of members for 9a.m. on Tuesday. Again, the meeting was boycotted by the Saraki camp. It was learnt that President Buhari who returned from the G7 meeting Monday night would meet with the National Assembly members of the APC by 9a.m. on Tuesday to salvage the already bad situation. But in what played out as a strange development yesterday, external security personnel consisting of men from the Nigeria Police Force and Department of State Security shut down the National Assembly during the early hours of the morning, barely three hours before the scheduled meeting by APC at the International Conference Centre (ICC). At the end of the day, the gates were opened and the election was conducted, where Saraki was elected unopposed by 57 Senators that cut across party lines. The outcome of the drama indicates that godfather syndrome is fading away from Nigeria politics.

42 Politics Chukwu David

enator Abubakar Bukola Saraki was born on December 19, 1962, to the family of the late godfather of Kwara politics, Dr. Abubakar Olusola Saraki. The senior Saraki was the Second Republic Senate Leader and served from 1979 – 1983. Saraki attended Corona School, Lagos from 1966 to 1972, where he finished his primary school education. He also attended King’s College, Lagos from 1973 to 1998 when he obtained his West African School Certificate, WASC. He later travelled to the United Kingdom for further his studies. In UK, Saraki attended Cheltenham College, London, from 1979 to 1981 and obtained his High School Certificate (HSC) from the College. Not yet done with his academic pursuit, the former Governor of Kwara State attended the London Hospital Medical College of the University of London from 1982 to 1987, where he obtained his MBBS. After his university education, he worked as a Medical Officer at Rush Green Hospital, Essex from 1987 to 1988. He also worked as a Senior Casualty Officer at Royal Free Hospital, London from 1988 to 1989. He worked as Director (non-executive) at Societe Generale (Nig.) Limited from 1989 to 1990; Executive Director at Societe Generale (Nig.) Limited from 1990 to 2000, worked for the Federal Government of Nigeria as Special Assistant to the President on Budget from 2000 to 2001.

Tambuwalisation of APC C O N T I N U E D F R O M PA G E 1 3

as Speaker of the 7th House of Representatives. While Tinubu anointed Tambuwal to work against his then party (PDP), it was Gbajabiamila that led the onslaught on the floor of the green chamber. At that time, Gbajabiamila as the arrowhead of the minority party, preached the gospel of non-interference in the affairs of the legislature. It was also reported that he convinced lawmakers across party lines that it was wrong for a political party or any other external body to dictate who should lead the parliament. In other words, he sold the dummy of legislative autonomy to his fellow parliamentarians, while he implemented a strategic plan developed by the Action Congress of Nigeria (ACN) his then party, to hijack the post of Speaker of the House from the majority party. In 2011, the ACN exploited the ambition of Tambuwal and the greed of some other members of the PDP as well as the lack of discipline and loyalty in the ruling party. This is why some analysts have described the events of yesterday as payback time. It was indeed like paying back Tinubu and the APC in their own coin. You may call it a vendetta because from all that transpired, it does seem that while the APC bickered over zoning or no zoning, the PDP carefully plotted to extract their pound of flesh, after all it was the other party that drew the first blood.

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

The man Bukola Saraki Saraki also worked for the Federal Government of Nigeria as Chairman of the Presidential Committee on Non-Oil Revenue Generation from 2000 to 2001, as well as Executive Vice Chairman at Societe Generale (Nig.) Limited from 2001 to 2002. In 2003, Saraki contested and won the gubernatorial election of Kwara State, which was conducted on April 19, 2003. He was sworn in as Governor on May 29, 2003. As provided for in the 1999 Constitution (as amended), he also contested for second term and won re-election in 2007. He was sworn in for a second time as Governor of Kwara State on May 29, 2007. In 2004, he invited white Zimbabwean farmers who had been evicted from their farms in Zimbabwe under the regime of Robert Mugabe to settle in Nigeria. In response to his invitation, several Zimbabwean farmers came to settle in Kwara, on lands provided under his administration and offering them an opportunity to farm. This led to the establishment of Shonga Farms programme, which is now being replicated across Nigeria. Saraki became Chairman of the Nigerian Governors’ Forum (NGF) in 2007. Under Saraki’s chairmanship, a reformed Forum was established, with a fully resourced secretariat as well as a technical and administrative division that was entirely focused

Saraki has campaigned extensively on health, food security, education and the environment

on delivery. After his successful two-term tenure as governor of Kwara State, Saraki ran for the office of Senator of the Federal Republic of Nigeria to represent the Kwara Central Senatorial District and won. With his victory, he succeeded his sister, Gbemisola Saraki-Forowa. He was appointed as the Chairman, Senate Committee on Environment and Ecology and also a member of the Senate Committees on Capital Markets and Finance. He also sponsored a motion in the Senate to end the fuel subsidy regime in Nigeria which has been an excessive waste of the country’s national resources. As a member of the Senate, Saraki has campaigned extensively on health, food security, education and the environment. He also sponsored a motion in the Senate to end the fuel subsidy regime in Nigeria, which has been an excessive waste of the country’s national resources. His work on the oil industry has also led him to focus on arguing to strengthen laws relating to the clean-up of oil spills. His National Oil Spill and Detection and Response Agency Amendment Bill seeks to ensure oil companies pay appropriate levels of compensation to communities affected by oil spills. Saraki has also intervened in the lead poisoning crisis in

Zamfara State in 2010, and has supported the Global Alliance for Clean Cookstoves, which ensures safe and healthy methods of cooking for millions of Nigerians while conserving the environment through reduced deforestation. In 2012, Saraki was appointed into the Leadership Council of the Global Alliance for Clean Cookstoves, an initiative led by the United Nations Foundation that supports the use of public-private partnerships to create a market for clean cookstoves and fuels. In 2013, Saraki established GLOBE Nigeria as an affiliate of the Global Legislators Organisation, establishing a platform for legislators to advance environmental and sustainable development laws in Nigeria. He currently serves as GLOBE Nigeria’s President. He was re-elected in the March 28, 2015 National Assembly election. He decided to run for the office of the President of the Senate, which generated a lot of controversy and horse trading, as the All Progressives Congress (APC), leadership did not want him. He however, put up a resilient fight and defied the consensus arrangement, which adopted Senator Ahmad Lawan as the party’s sole candidate. He was unnanimously elected as the Senate President for the Eighth Senate on June 9.

Yakubu Dogara in the saddle Philip Nyam

on. Yakubu Dogara was born on December 26, 1967 and hails from Bogoro Local Government Area of Bauchi State. He represents Bogoro/Dass/Tafawa Balewa federal constituency in the House of Representatives. He attended Gwarangah Primary School, Bauchi State from 1976-1982 and had his secondary education at Bauchi Teachers’ College, Bauchi State where he obtained Grade II Teachers’ Certificate. From there he proceeded to University of Jos, Plateau State where he obtained Bachelor of Laws, LLB (Hons), and graduated with Second Class Honours, Upper Division. From 1992 to 1993, he attended the Nigerian Law School, Lagos, after which he was called to the Nigerian Bar in 1993. He then proceeded to the Robert Gordon University, Aberdeen, Scotland, United Kingdom where he obtained LLM (Masters) in International Commercial Law in April 1988. Dogara showed his leadership earlier in life as between 1984-1987 he was House Captain, Sarkin Yaki House, Bauchi Teachers’ College. From 1985-1987 he was Editor-in-Chief, Bauchi Teachers’ College Press Club and between 1989 and 1992, he served as SecretaryGeneral, National Union of Zar Advanced Students. In 1992, he was on the editorial board, FCS University of Jos as well as editorial Board, Law Students Society, University of Jos. Between 1993-1994 he was Organising Secretary/ Editor-in-Chief, NCCF, Akwa Ibom State. In 1998, he became Secretary/Legal Adviser. Dogara did his compulsory National

Youth Service with NCCF, Akwa Ibom State between 1993 and 1994. Between 1994 and 2005 he was into Private Legal Practice. In 2005-2006, he was appointed Special Assistant to Hon. Minister of State for Transport. His political career began in 2007 when he was elected as a member House of Representatives, representing Bogoro/Dass/ Tafawa-Balewa Federal Constitution of Bauchi State. He would subsequently be re-elected in 2011 and 2015. He was the chairman of the House Services Committee in the immediate past Assembly. A very intelligent lawmaker, he has served as Chairman, House Committee on Customs and Excise 2007-2010; Chairman, House Services Committee 20102011. He also served as member of the following committees: Judiciary, Customs and Excise, Capital Markets and Institutions, Foreign Affairs, Rural Development, Ethics and Privileges, and Power. The others are: Services and Welfare, Judiciary, Land Transport, Labour, Employment and Productivity, Information and National Orientation, Steel Development, Federal Capital Territory (FCT), Legislative Budget and Research. In his eight years in the House, Dogara has sponsored the following bills: Federal Competition Commission Bill 2011; A Bill for and Act to alter provisions of section 143 of the Constitution of the Federal Republic of Nigeria in order to remove ambiguities in the process of removal of the President and Vice President from office on allegations of Gross Misconduct, 2013; Public Interest Disclosure Bill 2013; Subsidiary Legislation Bill 2013 and Hire Purchase Bill 2013. He is a member of the Nigerian Bar Association Management and Leading

Dogara

Strategic Change – 2006. He has attended several courses both home and abroad including; Oxford University Course on Negotiation- 2013; Leadership in Crises - Harvard Kennedy School- 2014. He is a member, International Bar Association; member, Nigerian Institute of Management; member, Chartered Institute of Mediator and Conciliator; Associate Member, World Jurist Association; member, Cyber Bar Association; member, Institute of Environment Management and Assessment Social Policy Association. A successful family man, the new speaker is married with children. He is an avid reader and has several publications to his credit. His enjoys basketball and volley ball.

Politics 43

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Penultimate Friday, Malam Nasir el-Rufai was sworn in as governor of Kaduna State in a colourful and boisterous ceremony which turned sour with the stoning of Alhaji Shehu Idris, the Emir of Zazzau and other dignitaries who attended the inauguration, over the latter’s alleged partisanship in the run up to the last elections. IBRAHEEM MUSA reports

How Emir was stoned at el-Rufai’s inauguration

n retrospect, the elaborate security arrangement, the array of military and paramilitary personnel as well as plain clothes security men were neither a deterrence nor a shield. As expected, the event attracted a mammoth crowd as people from far and near had trooped to witness the historic inauguration. Specifically, the ceremony was billed for 10a.m. but as early as 7a.m., a large crowd had gathered at the Murtala Mohammed Square, Kaduna, the venue of Malam Nasir el-Rufai’s swearing-in as Kaduna State governor on Friday, May 29. By 9a.m., the Square was brimming with all manner of people, including party supporters, food sellers and hawkers. Similarly, different posters of el-Rufai, President Muhammadu Buhari and All Progressives Congress (APC) were on display. Loud speakers blared songs of el-Rufai and Buhari’s praises while youngsters clustered around to mime and dance at different locations. Motorcyclists, bearing party insignias, pulled dangerous stunts on Alkali road which leads to the venue. Young men and women, including the elderly, wore gorgeous apparels as well as aso ebi with el-Rufai’s portraits on them. In addition, others wore T-shirts with the new governor’s image and endearing words inscribed on them. Indeed, Kaduna was in a festive mood on May 29 but the fanfare was largely marred by some miscreants. Significantly, the security agents had mounted a close vigil to ensure a hitch-free event. At various points, motorists were asked to park far away from the venue. In addition, people were thoroughly frisked at each entry point for concealed weapons or explosives. However, in the spirit of the times, no one was refused entry or from being part of the celebrations. Consequently, street urchins and almajiris were allowed into the venue and this was a costly mistake. The crowd, as the event commenced, had massed around the podium close to where dignitaries were seated and efforts to disperse them were futile. With time, the crowd grew restive and hurriedly, Justice Tanimu Zailani administered the oath of office on el-Rufai, signifying his formal induction as governor of Kaduna State. At 10.45a.m., efforts were made to pave way for el-Rufai, the man of the moment, to deliver his address

el-Rufai

but midway through, the speech was disrupted. The crowd, at this point, kept surging forward, praising the new governor and cursing the preceding administration. In no time, the situation got out of hand as some urchins started booing Alhaji Shehu Idris, the Emir of Zazzau, calling him unprintable names. In particular, they accused him of supporting Alhaji Muktar Yero, the immediate past governor of Kaduna State. For this reason, they started singing a familiar Hausa campaign song, “Sabon Gwamna, Sabon Sarki,” meaning a new governor should be inaugurated along with a new Emir. Thereafter, the crowd went beyond booing and started pelting the VIP stand, where the Emir was seated, with sachets of water. The emir, according to reports, was partisan in the run up to the elections and the crowd wanted its own pound of flesh. On March 1, ex-Governor Yero was in Zaria to round off his campaign tour. Naturally, he paid a courtesy call on the Emir, where he sought for the latter’s blessing and support. Responding, the Emir spoke in parables but the royal endorsement for Yero was clear. Politics, according to him, is like piloting an aircraft where experience is most paramount. In this regard, it is better to rely on experience while voting the next governor of Kaduna State. Afterwards, Alhaji Idris wished Yero and his entourage a successful campaign, as well as a free and peaceful election. Beyond this, the Emir had allegedly directed all his District and Village Heads, according to reports, to campaign for Yero who holds the title of Dallatun Zazzau. Penultimate Friday, the Emir paid direly for his alleged partisanship at the swearing-in. Significantly, poor crowd control marred up the event as policemen, after sensing trouble, moved to decongest the area close to the VIP

Emir of Zazzau

Our country has been a place where hope goes to death, where the future has been stolen from our children

stand. Forcefully, the crowd was pushed back but people grew more unruly. Afterwards, they started throwing shoes and stones towards the Emir, jeering and booing him as they did. Thereafter, the security operatives grew more desperate and the crowd became more daring. Tear gas canisters were shot thrice in the air but this added to the general confusion. For 15 minutes, no one was in charge as the crowd kept surging forward and throwing objects at the dignitaries. VIPs, invited guests and senior government officials were caught in the crossfire. Specifically, Senator-elect Shehu Sani, according to reports, had to rescue Justice Zailani who had earlier administered the oath of office on el-Rufai. Confused, the new governor was in a quandary as the traditional parade, the release of white pigeons and sundry activities that were lined up for the event couldn’t hold in that melee. Thereafter, elRufai and Barnabas Bantext, the deputy governor, then mounted an open roof Land Rover and started going round Murtala Square in slow speed to distract the mob. Significantly, the crowd followed the motorcade and by so doing, attention was diverted from the Emir. This decoy provided the escape route for the traditional ruler as he was smuggled out through the rear exit. However, on sensing this, the crowd went wild again and started hurling stones at security agents. The police, in self defence, shot five times in the air and fired several canisters of tear gas at the mob. Consequently, el-Rufai and his deputy halted their procession, covering their faces with handkerchiefs as they stood still. Abruptly, the event came to an end as the new governor was spirited away in his official vehicle. One by one, the dignitaries also filed out amid tight security. Essentially, the people of Kaduna State

didn’t hear what el-Rufai promised them but copies of his speech were sent to journalists online. el-Rufai and his deputy, according to the speech slashed their salaries by 50 per cent until the state’s fiscal situation improves. “We understand that leadership by example is the most persuasive way to demand sacrifices from all of us as citizens,” el-Rufai had noted. In addition, the administration promised to avoid ostentation and foolish “bigmanism,” but would embrace transparency, modesty and accountability. To this end, “we will obey the same rules that we demand of all of you. After all, the law is the difference between civilisation and anarchy. We submit ourselves to the principle that all are equal before the law,” he had promised. According to the new governor, Kaduna is the second most indebted state in the country, but he promised to work day and night to make the state great again. “For far too long, our country has been a place where hope goes to death, where the future has been stolen from our children, where our leaders have commandeered our resources largely for their own personal enjoyment, and where grinding poverty has become a fact of daily life for nearly all our people,” el-Rufai had lamented. The governor added: “Our state is no exception. Kaduna State is in a difficult situation. As soon as we have all the facts in coming weeks, we shall lay bare to you just how deep a hole we have dug ourselves in the past several years. But this much we already know.” Ironically, the electorate did not get to hear Governor el-Rufai’s first covenant with the people of Kaduna State because anger had taken the most part of some people. Largely, a joyous event ended abruptly on a not-too-happy-note over the alleged indiscretion of one person.

Business | Money Line

WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

ATM is most significant banking reform –Poll POPULAR

Most used form of electronic banking services Tony Chukwunyem

igerians have voted the Automated Teller Machine (ATM) as the most visible proceed of the banking sec-

tor reforms, according to a weekly economic poll conducted by leading polling organisation, NOI Polls Limited. In a statement made available to New Telegraph, the organisation said the poll showed that majority of Nigerians (91 per cent) identified the introduction of the ATM as the most significant reform in the banking sector over the last decade. According to the state-

ment, other key changes brought about by the reforms in order of importance are the Nigerian Uniform Bank Account Number -NUBAN (44 per cent); Internet banking (42 per cent), Point of Sale-PoS (32 per cent) and Mobile Money Services (23 per cent). Further findings from the poll revealed that the ATM services are the most used form of electronic banking services

as indicated by majority of the respondents (68 per cent). This is followed by 10 per cent of the respondents who indicated they use Mobile Money and this is mostly true for bank customers in the South-West (19 per cent) and South-South (17 per cent) zones. The statement also revealed that respondents identified PoS (6 per cent), Internet banking (6 per cent), and Credit Card

Reforms key to boosting African debt market –Experts

eveloping Africa’s financial infrastructure was as important as advancing its physical infrastructure, financial experts have. They noted that while countries on the continent have raised their profile in world capital markets significantly over the past five years, there was still need for greater reforms and more investment to create better markets for African debt. The experts stated this at a forum during the World Economic Forum (WEF) on Africa, which took place last week. Countries such as Côte d’Ivoire, Zambia, Kenya

and Ghana collectively raised more than $7billion on international debt markets last year, at yields on a par with those of developed countries, and this is expected to accelerate over the next 10 years, Barclays Africa CEO Maria Ramos told the forum. Africa’s inclusion in the global emerging markets debt index has jumped from five countries with $5.6billion in issue in 2008 to 15 countries with $36billion in issue. Citi head of global banking, Raymond McGuire, said the increase in issuance by African sovereigns and financial sector players reflected

confidence from primarily European investors. “The view is that we have confidence in Africa as a vital growth geography, and the infrastructure is developing so we can facilitate capital flows, outside just the fixed income market,” McGuire said. Ms Ramos said a lot more reform to domestic pension fund and mutual fund sectors was needed, with tax incentives to saving, as well as more investment in technology and trading systems and improved governance to equalise the playing field and reduce the cost of issuance. Harmonising the rules across countries

would help reduce the cost of issuance, as would create more liquidity in markets. Investec Asset Management CEO Hendrik du Toit urged issuing governments to build proper yield curves in the debt market, instead of issuing debt for whatever maturity was cheapest. Proper yield curves would enable the development of corporate bond markets and of local currency domestic debt markets. He cited the importance of developing domestic capital markets across Africa, or countries would always be dependent on foreign finance.

Economic Indicators As at M2*

N19,142,526.05m

Mar, 2015

CPS*

N18,579,219.49m

Mar, 2015

INF

8.7

May, 2015

MPR

4/6/2015

US$60.75

5/6/2015

US$29,215,582,129

8/6/2015

Bonny Light Ext Res**

Source:CBN

Description 13.05 16-AUG-2016 15.10 27-APR-2017 16.00 29-JUN-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 10.00 23-JUL-2030 12.1493 18-JUL-2034

Tenor (Days) Call 30 90 180

TTM 1.19 1.88 4.06 6.64 8.76 15.12 19.11

Price 99.17 101.97 106.18 110.83 101.84 68.00 88.17

NIBOR

Rate (%) 13.7083 15.2309 16.2954 17.5632

FGN Bonds Bid Yield 13.78 13.85 13.95 13.83 13.82 15.55 13.93

Change (%) 2.28 ▲ 0.42 ▲ 0.29 ▲ 0.24 ▲

Change (%) -0.01▼ 0.04▲ 0.07▲ 0.06▲ 0.02▲ 0.00 ↔ 0.00 ↔

Price 99.32 102.12 106.48 111.13 102.14 68.30 88.47

Offer Yield 13.64 13.76 13.85 13.76 13.76 15.47 13.88

NITTY

Tenor (Months) 1 2 3 6 9 12

Rate (%) 10.4778 11.4165 11.5461 13.0010 13.6571 13.7382

Treasury Bills

Change (%) -0.03▼ -0.04▼ 0.05 ▲ -0.46▼ -0.49▼ -0.64 ▼

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 11.22 11.55 0.06 ▲ Open-Buy-Back (OBB) 13.67 10-Sep-15 11.47 11.81 0.06 ▲ 11.43 12.10 -1.38▼ Overnight (O/N) 14.00 03-Dec-15 11.68 12.38 -1.38 ▼ Bid Offer Spot ($/N) 197.40 197.50 THE FIXINGS –NIBOR,NITTY and NIFEX of February 6,2014

Change (%) -0.01▼ 0.04▲ 0.07▲ 0.06▲ 0.02▲ 0.00 ↔ 0.00 ↔

Change (%) -0.28 ▼

NIFEX

Bid Spot ($/N) 198.9125

Offer 199.0125

Change (%) 2.29 ▲ 2.17 ▲ Change (%) 0.01▲ Source: FMDQ

(2 percent) as other electronic banking services mainly used by customers. However, according to the findings, 18 per cent of bank customers do not use any of these services. The Banking Sector Reform was launched in 2004 with the aim of having a more efficient and reliable banking sector to enable better security of customer’s monies and strengthen growth potential in banks business operations. As part of the reforms, the cashless policy was introduced in 2012 to reduce the high risks attached to currency man-

agement in the country and also to intensify the national payments system. According to the statement, “The opinion poll was conducted in April 2015. It involved telephone interviews of a random nationwide sample. 1,500 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95 per cent confidence that the results obtained are statistically precise within a range of plus or minus 2.5 per cent.”

CBN marks World Environment Day

he Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has urged staff of the apex bank to join the global train of preserving the environment, through ecofriendly and sustainable consumption patterns. He stated this while leading CBN staff to observe the 2015 World Environment Day last weekend. Speaking on the theme of this year’s celebration, “Seven Billion Dreams. One Planet. Consume with Care”, Mr. Emefiele said the apex bank was committed to promoting the culture of sustainability through participating in activities that preserve the environment. While declaring that the management of the bank was keen on making

the CBN a green institution, he urged those present to be active participants in sustaining and preserving the environment through activities such as joining environmental groups, planting trees, lobbying local authorities to adopt sound environmental policies, and replacing light-bulbs with energy saving bulbs, among others. He therefore, urged all present to spread the message to their respective offices, homes and circle of friends. The World Environmental Day is observed on June 5, each year. It is one of the principal vehicles through which the United Nations (UN) stimulates worldwide awareness of the environment and enhances political attention and action.

World Bank backs G7 on global economy decarbonisation

he World Bank has thrown its weight behind plans by the Group of 7 industralised nations (G7) to cut greenhouse gas emissions and decarbonize their economies by the end of the century Reacting to the G7 Communique, the World Bank Group President, Jim Yong Kim, said in a statement that the bank was ready to partner with the group to decarbonise the global economy. He said,”The G7 leaders issued a powerful statement on climate change, committing themselves to aggressive action to reduce greenhouse gas emissions and to lead the decarbonization of the global economy. We welcome their call for multilateral development

banks like ours to use to the fullest extent their balance sheets and capacity to leverage finance for climate action. We also welcome their call for the World Bank Group and partners to establish a platform for strategic dialogue on carbon markets and regulatory instruments.” Also commenting on the G7’s statement on the Ebola crisis in West Africa, Kim pledged that, “The delayed response to the Ebola crisis in West Africa must never happen again.” According to him, “The World Bank Group will accelerate our efforts to launch the pandemic emergency facility before the next deadly, and potentially much worse, outbreak occurs.

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

FMDQ Daily Quotations List

9-Jun-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

581.39 476.80 20.00 100.00 300.00 351.30 233.90 193.73 600.00 573.14 75.00 150.00 200.00 591.57 299.50

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

1.19 1.88 2.13 2.23 2.97 4.06 4.37 4.68 6.64 8.76 13.47 13.95 14.45 15.12 19.11

13.78 13.85 13.88 13.89 13.92 13.95 13.95 13.93 13.83 13.82 16.99 17.49 18.07 15.55 13.93

13.64 13.76 13.79 13.80 13.85 13.85 13.84 13.85 13.76 13.76 16.93 17.42 17.97 15.48 13.88

99.17 101.97 92.74 91.53 92.37 106.18 77.79 105.34 110.83 101.84 89.56 74.14 51.38 68.00 88.17

99.32 102.12 92.89 91.68 92.52 106.48 78.09 105.64 111.13 102.14 89.86 74.44 51.68 68.30 88.47

TOTAL OUTSTANDING VALUE

4,746.32

TOTAL MARKET CAPITALISATION

4,417.06

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

2.40 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.94 1.50 1.86 2.07

2.27 1.00 2.67 2.85

16.17 14.84 16.53 16.73

100.96 101.51 102.18 98.44

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

297.82

TOTAL MARKET CAPITALISATION

301.04

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.23

4.44

16.24

99.07

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.31

3.23

15.31

99.25

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.58

4.46

17.18

98.32

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.58

3.48

16.20

99.60

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.86

1.00

14.86

92.30

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.12

1.00

15.03

98.73

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.56

1.79

15.69

96.52

14.00

30.81

30-Sep-18

1.94

1.80

15.67

97.32

‡ /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

1.96

1.00

14.87

98.53

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

2.43

1.00

14.89

99.24

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

1.93

4.78

18.65

93.09

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.13

1.00

14.88

100.99

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 25.70

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

2.56 4.46 2.53

2.02 1.00 1.00

15.92 14.95 14.90

99.09 98.56 99.70

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.78

10-Oct-20

3.07

1.82

15.74

97.72

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.47

1.00

14.88

94.94

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.56

1.00

14.87

100.44

‡ /Agusto A-/GCR

*EKITI *NASARAWA

14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

31-Dec-13

14.50

4.55

31-Dec-20

3.22

1.44

15.37

97.94

06-Jan-14

15.00

4.56

06-Jan-21

3.25

1.00

14.93

100.13

99.50

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 439.50

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.19

1.00

12.53

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.75

1.00

14.27

98.44

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.33

2.63

14.75

99.79

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.31

1.00

14.94

97.72

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.38

1.34

15.24

98.76

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.31

1.00

14.89

96.37

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.56

30-Nov-17

1.54

1.88

15.72

103.73

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.58

3.84

17.68

97.78

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.75

1.00

14.86

104.46 101.58

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.75

1.00

14.86

A+/Agusto; A/GCR

UBA

14.00 UBA II 30-SEP-2018

30-Sep-11

14.00

35.00

30-Sep-18

3.31

3.00

16.93

92.72

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.86

2.29

16.15

99.31

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

1.94

6.11

19.98

97.07

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.56

2.16

16.06

99.81

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.43

2.76

16.64

95.11

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.45

1.80

15.62

94.55

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.56

1.57

15.38

104.29

A/GCR

STANBIC IBTC

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

30-Sep-14

16.29

0.10

30-Sep-24

9.31

1.00

15.07

105.91

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.31

1.00

15.07

90.97

TOTAL OUTSTANDING VALUE

187.44

TOTAL MARKET CAPITALISATION

181.85

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.68

1.00

14.90

89.88

Aaa/Moody's; AAA/S&P

AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

4.75

1.00

14.93

84.64

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.75

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

6.06

5.86

103.24

104.22

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.90

4.56

100.63

101.60

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.21

6.06

101.04

102.01

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,524.54

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

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

6.38

4.46

101.00

102.75

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.99

100.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

10.32

9.40

91.52

93.70

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.53

7.10

95.47

96.72

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.38

96.25

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

10.09

9.59

95.73

97.27

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

9.29 10.37 9.57

9.29 10.17 9.57

95.25 95.38 92.19

95.25 96.25 92.19

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.32

9.92

92.25

94.00

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,498.59

**Treasury Bills^ DTM 16 23 30 37 44 51 58 65

FIXINGS Maturity 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15

Bid Discount (%) 11.10 10.52 10.43 10.24 10.88 11.45 11.03 11.30

Offer Discount (%) 10.85 10.27 10.18 9.99 10.63 11.20 10.78 11.05

Bid Yield (%) 11.16 10.59 10.52 10.34 11.02 11.63 11.22 11.53

Money Market Tenor

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 13.7083 15.2309 16.2954 17.5632

Rate (%)

OBB

13.67

O/N

14.00

Tenor Call 1M

REPO

Rate (%) 14.25 14.50

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M

197.40 201.81 202.13 202.87 204.24 205.60

197.50 201.93 202.28 203.37 205.31 207.21

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

23-Jul-10 18-Jul-14

10.00 12.1493

591.57 299.50

TOTAL OUTSTANDING VALUE

4,746.32

TOTAL MARKET CAPITALISATION

4,417.06

Rating/Agency

Description

Issuer

23-Jul-30 18-Jul-34

15.12 19.11

15.55 13.93

15.48 13.88

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

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

17.25 0.00/16.00 0.00/16.50 0.00/16.50

2.40 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.94 1.50 1.86 2.07

68.00 88.17

68.30 88.47

Risk Premium (%)

Valuation Yield (%)

Modelled Price

2.27

16.17

100.96

2.67 2.85

16.53 16.73

102.18 98.44

Agency Bonds FMBN

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

Business | Financial Market News

***LCRM

TOTAL OUTSTANDING VALUE

297.82

TOTAL MARKET CAPITALISATION

301.04

1.00JUNE 10, 2015 14.84 NEW TELEGRAPH 101.51 WEDNESDAY,

Stock market extends losing streak Sub-National Bonds

A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.23

4.44

16.24

99.07

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.31

3.23

15.31

99.25

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.58

4.46

17.18

98.32

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.58

3.48

16.20

99.60

19-Apr-10 continue to 10.00 take profits or LAGOS 19-APR-2017 98.16 basis points 30-Jun-10 13.75 BAYELSA 30-JUN-2017 *BAYELSA close from the share apprecia- 0.29 per cent to 30-Dec-10 14.00 EDO 31-DEC-2017 ‡ /Agusto EDO Sustained 30-Sep-11 14.00following DELTA 30-SEP-2018 at 33,492.17 as against ‡ /Agusto; A+/GCRsell *DELTA tion recorded 04-Oct-11 14.00 NIGER II 4-OCT-2018 33,590.33 recorded Bb-/Agusto; A-/GCR NIGER the impressive first quarter pressure depletes *EKITI 09-Dec-11 ‡ /Agusto; A-/GCR† 14.50 EKITI 09-DEC-2018 previous day, while results posted by some 12-Dec-13 Bb-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 equities by quoted companies. 14-Feb-12 ‡ /Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 market capitalisation 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019 With only 14 gain- of equities depreciated N33billion Aa-/Agusto; ‡ /GCR LAGOS 14.50 LAGOS 22-NOV-2019 22-Nov-12 ers and 26 losers, the by N33 billion or 0.29 per 12-Dec-12 BBB-/Agusto; BBB+/GCR *OSUN 14.75 OSUN 12-DEC-2019 10-Oct-13 BBB-/Agusto *OSUN 14.75 OSUN II 10-OCT-2020 cent from N11.465 key benchmark indices tril27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS 27-NOV-2020 maintained negative tra- lion the previous day to 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 Stories by Chris Ugwu marjectory to close the red, N11.432 trillion, as31-Dec-13 ‡ /Agusto *EKITI 14.50in EKITI II 31-DEC-2020 06-Jan-14 A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021 as activities in the shares ket sentiment remained TOTAL OUTSTANDING VALUE he Nigerian eq- of blue chip companies in the red. TOTAL MARKET CAPITALISATION uity market yes- dragged down the equity Meanwhile, a turnCorporate Bonds plunged market. terday over of 226.2 million 10.00 UPDC 17-AUG-2015 17-Aug-10 BBB+/Agusto *UPDC further followbilTrading activities on shares worth N2.7 12.00 FLOURMILLS 9-DEC-2015 BBB-/Agusto 09-Dec-10 *FLOURMILLS ingBB/GCR massive sell off that the floor of14.00 Exchange lion in 3,512 deals06-Jan-11 was CHELLARAMS 06-JAN-2016 *CHELLARAMS 13.00 NAHCO 29-SEP-2016 A+/Agusto; A-/GCR NAHCO had the previous day recorded in the 29-Sep-11 day’s had persisted on the 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH also closed in red follocal bourse in recent trading. 13.00 UBA 30-SEP-2017 A/GCR 30-Sep-10 UBA times. lowing negative sentiJust as in the previous 18.00 C&I LEASING 30-NOV-2017 BBB-/GCR 30-Nov-12 *C & I LEASING MPR+7.00 DANA 9-APR-2018 Nil *DANA Market watchers said ments of investors. day, the banking09-Apr-11 subMPR+7.00 TOWER 9-SEP-2018 09-Sep-11 A-/DataPro†; B+/GCR investors are yet to get*TOWER reConsequently, the sector of the financial MPR+5.25 TOWER 9-SEP-2018 09-Sep-11 AAA/DataPro†; A/GCR *TOWER spite, as bargain hunters All-Share Index dipped the 14.00 UBA II 30-SEP-2018 services sector was A+/Agusto; A/GCR 30-Sep-11 UBA A+/Agusto; ‡ /GCR DIP ‡ /Agusto

57.00 most10.00 active (measured 13.75 25.73 by turnover volume); 14.00 25.00 with 14.00 99.8 million 30.81 shares 14.00 9.00 exworth N1.00 billion 14.50 13.73 changed by investors in 14.00 10.20 1,218 15.50 deals. 27.00 15.50 15.09 Volume in the80.00 bank14.50 ing sub-sector was large14.75 25.70 14.75 by activities 10.78 ly driven in 13.50 87.50 the shares of UBA Plc 15.00 5.00 and Zenith Bank Plc. 14.50 4.55 15.00 4.56 Also, other financial services sub 452.88 sector, 439.50 boosted by activities in the shares of FBNH Plc, 10.00 2.50 followed with a turnover 12.00 18.75 of 50.8 14.00 million shares 0.42 13.00 15.00 valued at N359.8 million 14.25 5.53 in 59213.00 deals. 20.00 Further analysis of 18.00 0.56 16.00 trading showed 5.40 the day’s 18.00 2.54 that Nascon Plc topped 16.00 0.70 the day’s gainers’ table 14.00 35.00

LAGOS

#{r}

BBB+/Agusto; BBB+/GCR BBB-/DataPro†; BB/GCR

*LA CASERA *CHELLARAMS# #{r}

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

MPR+5.00 CHELLARAMS II 17-FEB-2019

17-Feb-12

18.00

0.36

Nil

*DANA

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

STANBIC IBTC

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

30-Sep-14

16.29

0.10

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

23-Jul-14

8.00

450.00

14-Aug-14

8.75

250.00

Flour Mills shops for fresh funds BBB/GCR A/GCR A/GCR A/GCR

TOTAL OUTSTANDING VALUE lour Mills of Nigeria

billion) ordinary shares of 50 kobo each ranking pari passu plans toBond raise fresh capi- with the existing ordinary Supranational talAAA/S&P to expand its businesses. shares ofIFCthe Company. 10.20 11-FEB-2018 IFC 11.25 subject AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&Pobtained AfDB from In a notice That to the comOUTSTANDING theTOTAL Nigerian Stock VALUE Exchange’s pany obtaining all required TOTAL MARKET CAPITALISATION (NSE) website, the company regulatory approvals, the said it Rating/Agency is planning an Exdirectors of the Description company be Issuer traordinary General Meet- authorised by way of rights Eurobonds ingFGN (EGM) to consider and if to existing shareholders addithought fit, approve with or tional equity capital 6.75 JAN 28,of 2021up to BB-/Fitch; B+/S&P N40, 000,000,000 (forty billion without BB-/Fitch; modification resoluFGN 5.13 JUL 12, 2018 BB-/S&P tions that will reposition the naira) in the unissued share BB-/Fitch; JUL 12, 2023 and firm. capital of the 6.38 company BB-/S&P The which is slated which issue shall be effected TOTALEGM, OUTSTANDING VALUE forTOTAL nextMARKET week, CAPITALISATION will seek share- at such price, time and on holders endorsement that the such terms as the directors Corporate Eurobonds authorised share capital of of the company7.50 may deem fit. MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I theB+/S&P company be increased That in the event of an un7.25 JUL 25, 2017 ACCESS BANK PLC rights from N2, 000,000,000 FIDELITY (two BANK bil-PLC der-subscription 6.88 to MAYthe 09, 2018 B/Fitch; B/S&P 6.00 NOV 08, 2018 B+/Fitch; B+/S&P to N2, 500,000,000 GTBANK PLC lion naira) issue, the shareholders hereby 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC (two billion, five hundred mil- waive their pre-emptive rights 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC lion naira) by the creation of to any unsubscribed shares 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC 9.25/6M USD LIBOR+7.677 JUNand 24, 2021 rights issue additional B-/Fitch; B/S&P 1,000,000,000 ACCESS(one BANK PLC IIunder the TOTAL MARKET CAPITALISATION (FMN) Plc has concluded

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

8.00/2Y USD SWAP+6.488 JUL 23 2021

31-Dec-20

3.22

1.44

15.37

97.94

06-Jan-21

3.25

1.00

14.93

100.13

17-Aug-15

0.19

1.00

12.53

99.50

09-Dec-15

0.75

1.00

14.27

98.44

06-Jan-16

0.33

2.63

14.75

99.79

29-Sep-16

1.31

1.00

14.94

97.72

25-Oct-16

1.38 1.34 15.24 98.76 nited Bank for Group Managing Di30-Sep-17 2.31 1.00 14.89 96.37 Africa (UBA) Plc rector/CEO Mr. Phillips 30-Nov-17 1.54 1.88 15.72 103.73 09-Apr-18has won 1.58the Afri3.84 17.68 commenting 97.78 Oduoza, on 09-Sep-18 1.75 1.00 14.86 104.46 the awards, said it was a can Investor (Ai) Social 09-Sep-18 1.75 1.00 14.86 101.58 Infrastructure reflection of the 30-Sep-18 3.31 Deal of 3.00 16.93 92.72bank’s 18-Oct-18 1.86 2.29 16.15 the Year award. commitment to99.31 support17-Feb-19 1.94 6.11 19.98 97.07 The award according ing the growth of criti01-Apr-19 2.56 2.16 16.06 99.81 to14-Nov-20 a statement5.43from the cal sectors of the African 2.76 16.64 95.11 20-Nov-21 was announced 6.45 1.80 15.62 with 94.55 lender, economy its finan30-Dec-21 6.56 1.57 15.38 104.29 at30-Sep-24 the Ai CEO Infracial expertise and strong 9.31 1.00 15.07 105.91 structure and9.31 Sovereign balance 30-Sep-24 1.00 15.07sheet. 90.97 Investment Summit in Also commenting on Cape Town, South Africa the Awards, Hubert Danlast week. so, Ai’s Chief Executive Now in their Officer 11-Feb-18 2.688th year, 1.00 14.90and Vice 89.88Chair01-Feb-21 4.75 1.00 14.93 84.64 the sought-after Ai Inman said, “Showcasing frastructure Investment Africa’s infrastructure Awards formally rec- investment success stoognises achievements ries is critical Offer to creating Maturity Date Bid Yield (%) Offer Yield (%) Bid Price Price across the main infra- references and increas& Yields structure sectors inPrices ing the required finance Africa, the and institutional 28-Jan-21 and reward 6.06 5.86 103.24 104.22 infrainstitutions and person- structure investment to 12-Jul-18 4.90 4.56 100.63 101.60 alities driving transac- develop and implement 12-Jul-23 6.21 6.06 101.04 102.01 tions and improving the the continent’s unparalcontinent’s infrastruc- leled infrastructure inture investment climate. vestment opportunities. UBA said it was given Africa investor is therethe award for its signifi- fore delighted to host 19-May-16 6.38 4.46 101.00 102.75 these100.50 unique100.50 awards cant investment in social 25-Jul-17 6.99 6.99 and congratulates the infrastructure across the 02-May-18 10.32 9.40 91.52 93.70 08-Nov-18 7.53 7.10 95.47 and all 96.72 those winners continent in building the 22-Apr-19 7.38 7.38 96.25 96.25 economic capacity of the that entered and partici21-May-19 10.09 9.59 95.73 97.27 communities in which it pated in these important 07-Aug-20 9.29 9.29 95.25 95.25 does its business. 24-Jun-21 10.37 10.17 Ai Awards.” 95.38 96.25

4.50

23-Jul-21

9.57

92.19

14-Aug-21

10.32

9.92

92.25

94.00

3,650.00

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

14.86 92.30 Insurance Plc led the los15.03 98.73 ers’ with a drop of five 15.69 96.52 per cent 15.67 to close 97.32at 0.95 98.53 while kobo 14.87 per share, 14.89 99.24 Neimeth Nigeria Plc 18.65 93.09 shed 4.69 per cent each to 14.88 100.99 99.09 share. close 15.92 at N1.22 per 14.95 98.56 Vono14.90 Products99.70 Plc was 97.72cent to down15.74 by 4.57 per 94.94 close 14.88 at N1.67 per share. 14.87 100.44

‘UBA wins Africa Investor award’

the directors are hereby au- 187.44 thorised to issue such shares 181.85 to interested investors as, as far as11-Feb-13 practicable, 10.20 on similar 12.00 12.95 terms10-Jul-14 as the rights11.25 issue. That the proceeds of the 24.95 said rights issue shall be used 21.75 for such lawful purposes of Outstanding Value Issue Date Coupon (%) the company as the directors ($mm) of the company may consider appropriate. 07-Oct-11 6.75 500.00 That the directors of the 12-Jul-13 5.13 500.00 company be authorised to do 12-Jul-13 all acts and things 6.38 and to ap- 500.00 prove, sign and/or execute all1,500.00 documents, appoint such pro-1,524.54 fessional parties and advisers, perform all such other acts 500.00 19-May-11 7.50 and do all such other things 350.00 25-Jul-12 7.25 as may be necessary6.88to give ef- 300.00 09-May-13 6.00 400.00 fect to08-Nov-13 the above resolutions, 22-Apr-14 6.25 500.00 including without limitation, 21-May-14 8.75 200.00 complying with the directives 07-Aug-13 8.25 300.00 of any24-Jun-14 regulatory authority . 400.00 9.25

8.75 AUG 14, 2021

TOTAL OUTSTANDING VALUE

19-Apr-17 1.86 cent to 1.00 with 10.09 per 30-Jun-17 1.12 1.00 close at N7.75 per share, 31-Dec-17 2.56 1.79 while oil Nige30-Sep-18 Okomu 1.94 1.80 04-Oct-18 1.96 1.00 ria Plc followed with 09-Dec-18 1.00 five per cent 2.43 to close at 12-Dec-18 1.93 4.78 N30.67 per share. Wema 14-Feb-19 2.13 1.00 02-Oct-19 2.56 2.02 Bank Plc added 3.86 per 22-Nov-19 4.46 1.00 cent to close at2.53N1.05 per 12-Dec-19 1.00 10-Oct-20 3.07 1.82 share. 27-Nov-20 5.47 1.00 On the flip side, AIICO 31-Dec-20 5.56 1.00

9-Jun-15

3,498.59

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

16 23 30 FGN Bonds 37 44 51 Rating/Agency 58 65 79 86 93 107 114 128 142 156 NA 177 191 212 219 226 233 240 247 254 TOTAL OUTSTANDING VALUE 261 268 TOTAL MARKET CAPITALISATION 282 289

25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15 30-Jul-15 Issuer 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 29-Oct-15 12-Nov-15 NA 3-Dec-15 17-Dec-15 7-Jan-16 14-Jan-16 21-Jan-16 28-Jan-16 4-Feb-16 11-Feb-16 18-Feb-16 25-Feb-16 3-Mar-16 17-Mar-16 24-Mar-16

303

11.10 10.52 10.43 10.24 10.88 11.45 Description 11.03 11.30 ^13.05 16-AUG-2016 10.79 ^15.10 27-APR-2017 11.36 9.85 27-JUL-2017 11.47 11.89 9.35 31-AUG-2017 12.97 10.70 30-MAY-2018 13.39 ^16.00 29-JUN-2019 13.23 7.00 23-OCT-2019 13.10 15.54 13-FEB-2020 11.68 ^16.39 27-JAN-2022 11.81 ^14.20 14-MAR-2024 12.36 15.00 28-NOV-2028 13.26 12.49 22-MAY-2029 13.01 13.28 8.50 20-NOV-2029 12.57 ^10.00 23-JUL-2030 13.37 ^12.1493 18-JUL-2034 12.96 13.37 13.09 12.94 13.21

7-Apr-16

12.96

Description

10.85 10.27 10.18 9.99 10.63 11.20 Issue Date 10.78 11.05 16-Aug-13 10.54 27-Apr-12 11.11 27-Jul-07 11.22 11.64 31-Aug-07 12.72 30-May-08 13.14 29-Jun-12 12.98 23-Oct-09 12.85 13-Feb-15 11.43 27-Jan-12 11.56 14-Mar-14 12.11 28-Nov-08 13.01 22-May-09 12.76 13.03 20-Nov-09 12.32 23-Jul-10 13.12 18-Jul-14 12.71 13.12 12.84 12.69 12.96 12.71

Rating/Agency 317

Issuer 21-Apr-16

12.82

331

5-May-16

12.91

12.66

359 Agency Bonds

2-Jun-16

12.78

12.53

11.16 10.59 10.52 10.34 11.02 11.63 Coupon (%) 11.22 11.53 13.05 11.05 15.10 11.68 9.85 11.81 12.32 9.35 13.51 10.70 14.05 16.00 13.95 7.00 13.87 15.54 12.38 16.39 12.58 14.20 13.31 15.00 14.40 12.49 14.15 14.51 8.50 13.71 10.00 14.70 12.1493 14.24 14.78 14.48 14.38 14.75

Bonds

14.53

Issue 14.42Date

12.57

Tenor O/N 1M 3M Outstanding 6M

(N'bn)

Value

4,746.32

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

*BENUE

‡ /Agusto

*IMO

A+/Agusto; ‡ /GCR

LAGOS *BAYELSA

‡ /Agusto

EDO

‡ /Agusto; A+/GCR

*DELTA

Bb-/Agusto; A-/GCR

NIGER

‡ /Agusto; A-/GCR†

*EKITI

Bb-/Agusto

*NIGER

‡ /Agusto; A-/GCR

*ONDO

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

*GOMBE LAGOS

BBB-/Agusto; BBB+/GCR

*OSUN

BBB-/Agusto

*OSUN

WAPCO:West Africa Portland Cement Company

92.74 92.89 91.53 91.68 92.37 92.52 NA :Not 106.18 Applicable 106.48 ^ : Market Prices 77.79 78.09 # : Floating Rate Bond 105.34 105.64 ***: Deferred coupon bonds 110.83 111.13 102.14 ‡ : Bond101.84 rating under review 89.56 expired 89.86 †: Bond rating 74.44 N/A :Not 74.14 Available {r} :Issuer in receivership 51.68 51.38 68.00 68.30 NGC: Nigeria-German Company 88.17 88.47 UBA: United Bank for Africa

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

2.40 112.22 116.70 66.49

03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.94 1.50 1.86 2.07

2.27 1.00 2.67 2.85

16.17 14.84 16.53 16.73

100.96 101.51 102.18 98.44

16.24

99.07 YTD Return 99.25 (%)

301.04

Modified Duration Buckets

‡ /Agusto

2.13 13.88 13.79 2.23 13.89 13.80 2.97 13.92 13.85 :Benchmarks 4.06 13.95 13.85 * :Amortising 4.37Bond 13.95 13.84 µ :Convertible Bond 4.68 13.93 13.85 AMCON: Asset Management Corporation of Nigeria 6.64 13.83 13.76 FGN: Federal Government of Nigeria 8.76 Mortgage Bank13.82 13.76 FMBN: Federal of Nigeria 13.47 Finance Corporation 16.99 16.93 IFC: International 13.95 17.49 Management 17.42 LCRM: Local Contractors Receivables NAHCO: Nigerian 14.45 Aviation Handling 18.07 Company 17.97 O/N: Overnight 15.12 15.55 15.48 UPDC: UAC Property Development 19.11 13.93Company 13.88

NOTE:

Offer ($/N)

197.40 197.50 Price 201.93 201.81 202.13 202.28 202.87 203.37 Bid Price Offer Price 204.24 205.31 205.60 207.21 99.17 99.32 206.28 213.47 101.97 102.12 220.29 226.27

FMDQ FGN BOND INDEX

Sub-National Bonds

BBB+/Agusto

Rate (%) 14.25 14.50 13.78 14.75 13.85 15.00

Bid Yield (%)

Bid ($/N)

297.82

TOTAL MARKET CAPITALISATION KADUNA

TTM (Yrs)

Spot 7D 14D Offer 1M Yield 2M (%) 3M 13.64 6M 13.76 1Y

4,417.06

TOTAL OUTSTANDING VALUE

*EBONYI

Tenor Call 1M 1.19 3M 1.88 6M

14.00

REPO

Tenor

14.61

17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 08-DEC-2016 # Risk Premium is a combination of credit risk ***LCRM and liquidity risk premiums 0.00/16.50 LCRM II 19-APR-2017 **Exclusive of non-trading t.bills 0.00/16.50 LCRM III 06-JUL-2017 FMBN

A/Agusto

13.67

O/N

Maturity Date

581.39 16-Aug-16 476.80 NITTY 27-Apr-17 20.00 27-Jul-17 Tenor Rate (%) 1M 10.4778 100.00 31-Aug-17 2M 11.4165 300.00 30-May-18 3M 11.5461 351.30 29-Jun-19 6M 13.0010 233.90 23-Oct-19 9M 13.6571 193.73 13-Feb-20 12M 13.7382 600.00 27-Jan-22 573.14 14-Mar-24 75.00 28-Nov-28 NIFEX 150.00 22-May-29 Current Price ($/N) 200.00 20-Nov-29 BID($/N) 591.57 198.9125 23-Jul-30 OFFER ($/N) 199.0125 299.50 18-Jul-34

14.62

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

A-/Agusto

OBB

Rate (%) 13.7083 15.2309 16.2954 17.5632

<3 3<5 >5 Market

12.50 KADUNA 31-AUG-2015 Total Outstanding 13.00 EBONYI 30-SEP-2015 Volume(Bn)

Porfolio Market Value(Bn)

14.00 BENUE 30-JUN-2016 1,435.72 15.50 IMO 30-JUN-2016

1,248.67 10.00 LAGOS 19-APR-2017 666.34 13.75 BAYELSA 30-JUN-2017 3,350.73 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 10-OCT-2020

1,409.48 1,173.14

31-Aug-10 Weighting by 30-Sep-10 Outstanding Vol 30-Jun-11 40.58 30-Jun-09

891.07

33.77 19-Apr-10 25.65 30-Jun-10

3,473.69

12.50 Weighting by Mkt 13.00 Value 14.00

15.50 42.85 10.00 37.27

8.50

Bucket Weighting

2.16 4.86

5.73 0.41 57.00 0.34

31-Aug-15 % Exposure_ 30-Sep-15 Mod_Duration 30-Jun-16 18.25 30-Jun-16

0.23

Implied Yield

0.31

0.58 13.88 0.58

39.51 19-Apr-17 42.24 30-Jun-17

13.82 1.86 14.87 1.12 14.28 2.56

100.00 30-Dec-10

13.75 19.89 100.00 14.00

25.73 0.26 25.00 1.00

100.00 31-Dec-17

30-Sep-11

14.00

30.81

30-Sep-18

1.94

04-Oct-11

14.00

9.00

04-Oct-18

1.96

09-Dec-11

14.50

13.73

09-Dec-18

2.43

12-Dec-13

14.00

10.20

12-Dec-18

1.93

14-Feb-12

15.50

27.00

14-Feb-19

2.13

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

15.50 14.50 14.75

15.09 80.00 25.70

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

2.56 4.46 2.53

10-Oct-13

14.75

10.78

10-Oct-20

3.07

4.44 Implied 3.23 Portfolio Price 4.46 105.9904 3.48 111.3621 1.00 78.8907 1.00 100.8530 1.79 1.80 1.00 1.00 4.78 1.00 2.02 1.00 1.00 1.82

INDEX

15.31

17.18 1,187.51 16.20 1,111.18 14.86 1,108.81 15.03 1,139.63 15.69 15.67 14.87 14.89 18.65 14.88 15.92 14.95 14.90 15.74

98.32 7.1907 99.60

9.7386 92.30 10.1090 98.73 8.0030 96.52 97.32 98.53 99.24 93.09 100.99 99.09 98.56 99.70 97.72

NEW TELEGRAPH WEDNESDAY,JUNE 10, 2015

Police quiz APC chief over crisis in Enugu

Uwakwe Abugu Enugu

he Enugu East zonal Vice Chairman of the All Progressives Congress (APC), Chief Anike Nwoga, has been quizzed by the police in Enugu State, following a petition written against him by the governorship candidate of the party in the last gubernatorial election in the state, Chief Okey Ezea, over alleged character defamation.

Also interrogated yesterday over the same allegation was the Enugu State correspondent of a national daily, Mr. Emmanuel Nzomiwu, who spent some hours at the headquarters of the Nigerian Police before he was asked to go home to report back on Friday. Ezea had petitioned the police in the state protesting Nwoga’ s, alleged press statement, accusing him of partaking in alleged misappropriation of a N400 million campaign funds, contending that

News 47

SOUTH-EAST

the statement defamed his(Ezea’s) character. Ezea, through the petition, sought the arrest of Nwoga, to prove his allegation on the misappropriation of funds, as he also threatened to initiate a legal action if he was not satisfied with the handling of the issue by the police. Speaking on the development, Nwoga, said, “I got a call when I was away that policemen besieged my house, but when they couldn’t see me, they dropped an invitation letter.

“Immediately I returned, as a law abiding citizen, I had to go to the police. As I speak with you, I am making statement at the State CID,” It was gathered that he was eventually released on bail to some APC chieftains at about 8pm on Monday and was directed to report back yesterday. The controversy that arose from the said campaign funds crisis has been a sour issue for the party in Enugu State since the general elections were concluded.

Otti tasks APGA legislators-elect on quality representation Igbeaku Orji Umuahia

he governorship candidate of the All Progressives Grand Alliance (APGA) in Abia state, Dr, Alex Otti, has urged members of the State House of Assembly-elected on the platform of the party to live up to expectations in the House through effective representation of their respective constituencies. Otti made the call in his speech at a two-day retreat organised by the party for the legislatorselect with the theme, ‘’Socio-Economic Re-

generation of Abia State through Effective Legislation,’. The APGA candidate urged them to be focused on ‘’legislation that would enhance the quality of lives of the people and overall development of the state.’’ He said that the retreat was designed to expose the legislators-elect to global best practices in the conduct of the business of legislation. Otti said, “The twoday retreat is part of efforts being undertaken by the party to ensure that the legislators hit the ground running for the benefit of Abians.”

APC not ready for governance, says group Okorocha urges political aides to be focused Steve Uzoechi OWERRI

group, South East Progressives Assembly (SEPA), has berated the All Progressives Congress(APC), describing the party as an “association of strange bedfellows” that clearly lacks coherence and ideology to effect the much desired change in Nigeria. In a statement signed by the president of SEPA, Ebere Uzoukwa and made available to newsmen in Owerri, yesterday, the group posited that a situ-

ation the APC failed to leverage on its majority in the senate to produce both the President of the Senate and Deputy, which it said clearly exposed the party’s ignorance in the area participatory democracy. “We have expected the APC to harmonise divergent interests as regards to NASS leadership positions before the inauguration. The best approach to the challenge includes placing Nigeria as a nation above other sectional and individual interests, showing regard to the opposition and subtly appeal-

Abia ex -commissioner donates resource centre to community Steve Uzoechi OWERRI

mmediate past Commissioner for Finance and Economic Planning in Abia State, Dr. Philips Nto has announced the building of a Unity Centre for the people of Ututu, which he said would be a multi-resource centre that would serve as a symbol of unity for the eight autonomous communities that make up the clan.

He revealed his intentionat the weekend, as the people of Ututu in Arochukwu council area of Abia State held a reception to welcome him home. The former Commissioner noted that the Unity Centre, would be named after Prof. James Kalu Onoh, one of Nigeria’s foremost finance expert and economist who hails from Ututu. He called on youths of the state to embrace education, which he said was the plank to greatness and a secured future.

PUBLIC NOTICE

OKIN EMINENT SOCIAL CLUB OF LAGOS The General Public is hereby notified that the above named CLUB has applied to the Corporate Affairs Commission for registration under Pact “C” of the companies and Allied Matters Act 1990. THE TRUSTEES: 1. ALHAJI RAFIU ABIODUN OLA- ORE 2. ALHAJI JIMOH OLAWALE TAJUDEEN 3. PA AKINOLA ADEDEJI TIMOTHY 4 ADEBIYI OLADIPO 5 FESTUS OLADAPO 6 KAYODE ESANOLA 7 SAMSON ADEYEMI

- PRESIDENT - SECRETARY

AIMS AND OBJECTIVES 1. To promote peace, unity and love among members. 2. To care for members welfare. 3 To give moral, financial and legal support to members when need arise. 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

ing to the conscience of its senators and members of House of Representativeselect towards upholding the ideals of the party as one united political family. He argued that the ‘New PDP’ bloc that ensured that the APC to won the 2015 general elections did not exactly get their fair share in the party, which was why the sudden internal the consensus between the PDP senators-elect and APC’s senators produced the bi-partisan leadership of APC Senate President and PDP Deputy Senate President .

Steve Uzoechi OWERRI

overnor Rochas Okorocha of Imo State, has charged political appointees in his administration to brace up to the challenges of building the deserved atmosphere that would afford the people, economic prosperity. Okorocha, gave the charge in Owerri, the Imo State capital, following the swearing in of Sir Jude Ejiogu as

the Secretary to the State Government and the Chief of Staff, Hon. Uche Nwosu, among other officers of the state. He maintained that the essence of their appointment in his cabinet was to make them part of the solution and not to be part of the problems of the present administration, urging them to shun corruption and work hard to make Imo State better. He also advised the appointees not to allow the attractions of their offices take their focus away from issues to be

PUBLIC NOTICE

addressed by them towards fulfilling the expectations of the people of Imo State. The governor also stated that his government will not go back on its promise of building factories and industries that would provide jobs for the teaming Imo youths and create wealth in the state. He therefore appealed to all stakeholders in the state, regardless of party affiliations to join hands with the government to realise the ‘Imo my pride’ project.

PUBLIC NOTICE

GOD’S BREATH BIBLE CHURCH INTERNATIONAL GRASSROOTS FISH FARMERS ASSOCIATION The General Public is hereby notified that the above named CHURCH has applied to the Corporate Affairs Commission for registration under Pact “C” of the companies and Allied Matters Act 1990. THE TRUSTEES: 1. PASTOR OLUWAFEMI ODULAJA 2. PASTOR FOLASHADE FEMI-ODULAJA

The General Public is hereby notified that the above named association has applied to the Corporate Affairs Commission for registration under Pact “C” of the companies and Allied Matters Act 1990. TRUSTEES ARE: 1. Dr. Abolade Majekodunmi 2. Mr Akalika Callistus 3. Miss Iyodo Olubukola

4. Mr Sunday Oyebode 5. Mr Amao Saheed 6. Mr Ogunsola Oladapo

AIMS AND OBJECTIVES 1. To preach the gospel of Jesus Christ according to the knowledge of his will. 2. To establish a church that will promote God’s original plan members.

AIMS AND OBJECTIVES 1. To guide, enlighten, educate and empower existing and prospective farmers into fish farming business thereby reducing unemployment in our Nation’s teeming population 2. To protect the interests of members of the association with respect to business development and opportunities in fish farming 3. To form alliances with fish farmers from other parts of the country and globally for technological exchange of ideas and research programmes

Any objection to the incorporation of the above ministry should be forwarded to the Registrar-General, Corporate Affairs Commission, 420, Tigris Crescent, OffAguiyi Ironsi Street,P.M.B 198, Maitama, , Abuja, within 28 days of this publication.

Any objection to the above named registration should be forwarded to the Registrar General Corporate Affairs Commission , plot 420, Tigris Crescent off Aguiyi Ironsi street, Maitama, Abuja within the 28 days of publication. Signed Sunday Oyebode 09031504726

SIGNED: M.O. ONASANYA ESQ. 08057191105

PUBLIC NOTICE

STUDENT ENTREPRENEURSHIP CLUB

The General Public is hereby notified that the above named CLUB has applied to the Corporate Affairs Commission for registration under Pact “C” of the companies and Allied Matters Act 1990. THE TRUSTEES: 1. CHIBUIKE AGUENE - PRESIDENT 2. MICHEAL AGUENE AIMS AND OBJECTIVES 1. To promote peace, unity and love among members 2. To promote entrepreneurial development among members 3 To develop creative and innovative ideas among members. Any objection to the incorporation of the above ministry should be forwarded to the Registrar-General, Corporate Affairs Commission, 420, Tigris Crescent, OffAguiyi Ironsi Street,P.M.B 198, Maitama, , Abuja, within 28 days of this publication. SIGNED : TRUSTEES

PLATFORM FOR PROGRESSIVE YOUTH FORUM The General Public is hereby notified that the above named has applied to the Corporate Affairs Commission for registration under Pact “C” of the companies and Allied Matters Act 1990. THE TRUSTEES: 1. 2. 3 4 5

AHMED MUSTAPHA KOLAWOLE OLAOGUN BABATUNDE AWOTEDU ADEOLUWA ADEWOLE SEYI OSOSANYA

- CHAIRMAN - SECRETARY

AIMS AND OBJECTIVES 1. To promote peace, unity and love among members. 2. To care for members welfare. 3 To protect the interests of members of the association forum Any objection to the incorporation of the above ministry should be forwarded to the Registrar-General, Corporate Affairs Commission, 420, Tigris Crescent, OffAguiyi Ironsi Street,P.M.B 198, Maitama, , Abuja, within 28 days of this publication. SIGNED : A & A REHOBOT LIMITED 10 ARIYIBI OKE STYREET, NEAR WEMA BANK, BOLADE- OSHODI LAGOS 08122222162, 08179955162, 07066933337

48 News

Okowa: Only experienced hands’ll make my cabinet Dominic Adewole ASABA

elta State governor, Ifeanyi Okowa, yesterday said only time-tested and trusted politicians will make the list of his cabinet. The governor, who said quick-win strategies and long-term plans have been put in place to reflect his administration’s conviction to deliver on his fivepoint agenda, said the selection of his cabinet members would not experience any flaw. He said his cabinet would comprise men and women of integrity, who would make deliberate and focused contribution to stem the tide of the rising poverty ratio, educational decadence and joblessness in the state. He said: “As I have always noted, this government wants to hit the ground running. It is no time for apprenticeship. There is need to have in government, people who know what governance is about and who can handle matters with minimum supervision. “We would therefore”, he continued, “go for persons we can entrust with certain levels of responsibility so that governance can go seamlessly.”

south - south

Trial of 227 cultists, others begins amid tight security Cajetan Mmuta BENIN

he trial of the 227 cultists arrested in different parts of Edo State last month commenced yesterday in Benin City, the state capital. At least 12 kingpins of various cult groups were among the suspects ar-

raigned before the Special Magistrate Court that sat yesterday in the city. The Special Magistrate Court, New Telegraph gathered, was set up by the Chief Judge of the state, Justice Cromwell Idahosa, to prosecute the cultists following the congestion in the various prisons and police detention cells across the state. Besides, 129 of the sus-

Calabar

he Chief Medical Director of Federal Psychiatric Hospital, Calabar, Dr. Joseph Ukegbe and some senior staff of the hospital are now at daggers-drawn over the second term bid of the former. New Telegraph stumbled on a petition written by a group within the hospital, alleging several misdemeanors on the part of the CMD, accusing him, among other things, of selling a land meant for the permanent site of the hospital. But Ukegbe denied all the allegations, saying those who are after him

want to take over his job. In the petition, the authors, who did not want their names in print, claimed that the CMD is incompetent and lacks supervisory skills as well as alleging that he bought a piece of land for personal use from resources meant for the hospital, among others. “The Medical Director believes that psychiatric emergencies do not need a standby vehicle with driver on duty. The ambulance and other utility vehicles provided by the Federal Ministry of Health is permanently parked either by his office as a monument or kept at home for private use,” the petition said. “For example,” the pe-

titioners continued, “The former head of audit department is now a floating staff without any schedule and the former head of account had been posted to head the procurement unit.” However, in an interview with New Telegraph, Ukegbe, while acknowledging that he was in possession of the petition, accused the authors of pettiness, saying those behind it want to contest for the position of the Chief Medical Director. The CMD claimed that he is the first indigenous psychiatrist to manage the hospital, explaining that he has done so much for the hospital since assuming office in 2011.

Wike dissolves electoral, judicial commissions Emmanuel Masha Port Harcourt

ivers State governor, Nyesom Wike, yesterday dissolved the Rivers State Independent Electoral Commission (RSIEC) and the state Judicial Service Com-

pects arrested by combined police special squad from Delta, Anambra and federal SAARS, Abuja, deployed to the state by the Inspector General of Police, Mr. Solon Arase, between June 2 and 3 this month, had earlier been arraigned before the court, bringing the total to 227 that is standing trial for various charges. The state Commis-

sioner of Police, Mr. Samuel Adegbuyi, said after the March 2015 general elections, that the command had challenges in crime wave, including cultism, armed robbery, murder and other social vices. He said: “All these challenges became worrisome. I had no choice than to call on the Inspector General of Police,

L-R: Edo State Governor, Adams Oshiomhole (left), Prof. Julius Ihonvbere; Secretary to the State Government, Mr. Henry Idahagbon; AttorneyGeneral and Commissioner for Justice and Prince Clem Agba, Commissioner for Environment and Public Utilities, at the State Executive Council meeting in Benin City…yesterday

CMD, hospital workers disagree over second term bid Clement James

wdnesday, june 10, 2015 NEW TELEGRAPH

mission (RSJSC), barely 24 hours after the state House of Assembly empowered him to do so. At a plenary on Monday, the House had quizzed the Secretary of RSJSC, Mrs. Kate Baridor and the Chairman of RSIEC, Prof. Augustine Ahiazu, indicting the two commissions

on their activities during the Amaechi administration. The Speaker, Rt. Hon. Ikuinyi Ibani, had after a vote said: “The governor is hereby given the power to remove the chairman and members of RSIEC and RSISC from office.”

who swiftly drafted more personnel from Delta and Anambra States and the federal SAARS.” Yesterday’s proceeding, which was presided over by Magistrate Adiaken, was shifted to the premises of the state police command while journalists were barred from the venue even as it was held amid tight security. The relocation exercise, however, may not be unconnected with the over five months old strike by the Edo State chapter of the Judicial Service Workers Union of Nigeria (JUSUSN), whose activities have crippled the courts in the state. Among the suspects being tried by the state include four aides of Governor Adams Oshiomhole and eight others standing trial on a 13-count charge. The case is between the commissioners of police and the accused in suit number CR/01/C/2015. They include David Olukoga (36 years), Salako ASdebowale (43), Osunde Aigbedo (48), Ahunwa-ID Orlando (39), Uche Chukwuka (36) and Adebo Eguaoja (46). Others are Totti Omonuwa (42), Ernest Adadasu (49), Isabor Larry (34), Felix .O. Evbodi (34), Joshua Ehiabahi (36) and Bright Nosakhare (32) respectively.

Ikuru didn’t refund any money, says Amaechi Mojeed Alabi

Doctors’ strike T grounds Asaba Federal Medical Centre Dominic Adewole ASABA

ctivities at the Federal Medical Centre (FMC), Asaba, Delta State, were yesterday grounded as doctors in the hospital commenced a warning strike to press home their demands from the authorities. The development has led to the evacuation of patients from the hospital as the situation continued to get worse by the day. Reports said families of sick persons on admission beds at the hospital had a hectic time evacuating their loved ones to private hospitals. The patients were discharged unexpectedly, forcing the families to make alternative arrangement for their people. Hundreds of others being rushed to the hos-

pital for treatment were turned back at the gate. As early as 8a.m. yesterday, most of the private hospitals within Asaba metropolis, especially along the popular Nnebisi Road and the West-End axis were already filled up. When contacted, however, the Chief Medical Director, Dr. Leo Erhumwonse, said it was a warning strike. He described the development at the federal hospitals as a major tragedy to the health sector, being the fourth time within the space of one year that activities of the FMC Asaba would be disrupted. He said the doctors had to go on strike again to draw the Federal Government’s attention to the agreement reached at one of the meetings between the representatives of the Federal Government and the doctors.

he former Governor of Rivers State, Rotimi Amaechi, yesterday described the claim by his former Deputy, Mr. Tele Ikuru, that he returned billions of naira to the state’s coffers and saved the state of billions of naira that would have been wasted, as a blatant lie, describing Ikuru as an ingrate. The former deputy governor had during a thanksgiving service at the weekend, said he returned over N2 billion to the state governor and additionally saved the administration of not less than N1 billion while expressing disappointment at Amaechi for not giving him a parting gift at the end of their tenure. However, Ameachi, in a statement issued yesterday by his Media Aide, David Iyofor, said Ikuru never returned any money to him and that he was not aware that he returned any money to the coffers of the state government. “Tele is lying. He did not return any money to me. And I am not aware that he returned any money to the coffers of the state government."

NEW TELEGRAPH wednesday, june 10, 2015

Jigawa debt profile raises more dust

Musa Pam

Dahiru Suleiman

Dutse

he N114 billion debt profile inherited by the All Progressives Congress (APC) led administration of Governor Muhammad Badaru Abubakar in Jigawa State has continued to raise dust in the state. Officials of the new government yesterday continued to trade words with their predecessors over the debts left by the administration of former Governor Sule Lamido. Earlier in his inaugural speech on May 29, Governor Abubakar has announced that he was inheriting a liability of N114 billion as against the N14 billion claimed by the administration of Lamido of the Peoples Democratic Party (PDP).

Jos

ewly inaugurated members of the Plateau State House of Assembly yesterday failed to elect a speaker for the House. Their failure was said to be as a result of equal number of votes garnered by both the All Progressives Congress (APC) members and the Peoples Democratic (PDP) members in the House. Out of the 24 members in the state Assembly, the PDP has 13 members while the APC has 11 members.

News 49

south north - south

Plateau Assembly speakership election ends in deadlock The assembly abruptly shelved its plenary as members disagreed over who becomes the speaker of the House when the election became inconclusive after a long battle between APC candidate, Hon. Peter Azi, representing Jos North West constituency and the former Speaker of the House, Rt. Hon. Istifanus Caleb Mwansat, of the PDP, who represents Pankshin

South constituency. New Telegraph gathered that the PDP, having a 13-member majority failed to support its former speaker for re-election as a result of which the battle lasted for over six hours. The candidates, their supporters and party members were given the opportunity to go and reconcile but they failed to reach a compromise thereby compelling the Clerk

of the House, Mr. Ayuba Gongu, to announce the rescheduling of the election to a later date. However, there has been confusion among supporters of the two parties, who were seen leaving the Assembly complex unhappy. It is on record that PDP, which has 13 memberselect, failed in its bid to produce the speaker of the House as the Plateau State

Plateau workers suspend strike Musa Pam Jos

Bello tasks lawmakers on corruption Dan Atori MINNA

iger State governor, Alhaji Abubakar Sani Bello, has called on the eighth House of Assembly members in the state to concentrate on exposing corruption in the management of public funds. Bello made the call yesterday at the inauguration of the Assembly, saying it is the responsibility of the legislators to appropriate funds and carry out effective oversight functions in the state. According to him, “It is pertinent to point out that the legislature needs to concentrate on its constitutional duties of law making, appropriation, exposing corruption and inefficiency in the management of public funds and oversight functions." “The challenge before us is enormous and herculean, but definitely surmountable. You must make effective laws, review them, repeal some where necessary and enact new ones, appropriate funds and carry out effective oversight functions, so that good governance ethics can be enthroned to deliver campaign promises to the people.” Bello who was represented by his Deputy, Ahmed Ketso, also called on the legislators to donate projects to their constituencies as their personal contribution. The member representing Chanchaga constituency, Hon. Marafa Ahmed Guni, was elected Speaker of the House.

Governor, Simon Lalong, was said to be meeting with some of their members, including few from the PDP to ensure that the APC produces the speaker instead of the PDP. But as at the time of filing this report yesterday, the two candidates had gone back to the drawing board, lobbying their members to ensure their emergence in the election whenever it holds.

Senate President, Bukola Saraki, with former Vice-President, during a courtesy visit to Atiku in Abuja …yesterday

Benue APC suspends Waku, Jime, 10 others Cephas Iorhemen Makurdi

he All Progressives Congress (APC) in Benue State yesterday suspended 12 of its members for what it called their failure to withdraw their cases against candidates of the party in the last general elections or their gross involvement in anti-party activities. Those suspended by the party include Senator JKN Waku, Emmanuel Jime, Dorathy Mato, Sunday Odugbo, Justice Augustine Utsaha and John Usaka. Others are Enayi Onaji, Matthew Nezan, Frank Utoo, Linda Ogbeche, Avine Agbom and Ojogbane Adoyi. The party’s decision came just as a Senior Special Assistant to the immediate past governor, Gabriel Suswam, on Community Relations; Mr. Julius Alli, resigned his membership of the Peoples Democratic Party

(PDP) and defected to the APC. The state executive council members of the APC took the decision to suspend the members at a meeting held at the party's secretariat in Makurdi, following their failure to withdraw their cases before May 29. APC Chairman in the state, Mr. Abba Yaro, in a statement, warned that during the period of suspension, those affected will be kept under close observation, noting that if they fail to refrain from such activities that tend to dent the image of the APC, further disciplinary measures would be taken against them. Meanwhile, speaking at the defection ceremony at the APC secretariat in Ogbadibo Local Government, Suswam's ex-aide, Alli said his decision to defect was borne out of his burning desire to contribute to the development of the state, an opportunity he said the PDP had denied him of.

orkers in Plateau State that had been on a one-month strike over the non-payment of their salaries yesterday suspended the strike. The civil servants, who commenced the strike on May 5, following a six-month of nonpayment of salaries by the immediate past government of Jonah Jang, opted yesterday to resume work in response to appeals by Governor Simon Lalong who, promised to pay two months of the salary arrears this week.

Benue deputy speaker’s whereabouts unknown Cephas Iorhemen Makurdi

ollowing the intrigues that played out in the Benue State House of Assembly, which led to the emergence of the present crop of leadership in the House, the whereabouts of the Deputy Speaker, Hon. James Okefe Ejembi, is unknown as he was said to be receiving serious threats to his life. Investigation by New Telegraph indicated that Ejembi, who represents Okpokwu constituency on the platform of the Peoples Democratic Party (PDP), was the 'deal breaker' that

led to last Friday's emergence of Hon. Terkimbi Ikyange, an APC member, as speaker in the PDPdominated assembly. The APC, which is in the control of the state, is in the minority in the House with 14 members as against PDP’s 15 members, while the Labour Party has one member, a situation that posed a serious challenge of producing an APC speaker during the inauguration of the House. But while the intrigues as to who emerges speaker continued, Governor Ortom was said to have drafted his Deputy, Benson Abounu, an Idoma man, to do whatever he could to get the support of the Idoma

PDP members as there is only one APC member from Zone C (Benue South) in the House of Assembly. Our correspondent learnt that, Hon. Ejembi, an APC sympathizer, is said to have been in a long standing business relationship with the deputy governor’s son, Dr. Abounu Abounu, a consultant physician based in London. Abounu, New Telegraph gathered, gave the deputy speaker the necessary backing to clinch the PDP ticket on condition that the latter (Ejembi) will defect to the APC. Abounu is also said to be deeply involved in the speaker's micro finance bank.

Kano court frees child-bride

Kano High Court sitting in Gezawa yesterday set free Wasila Tasiu, a 14-year-old accused of killing her husband and three others on April 5, 2014. Delivering the judgement, Justice Mohammed Yahaya ruled that the court had no option than to comply with the application that originat-

ed from the office of the Attorney General and Commissioner for Justice to terminate the case. "I have no alternative than to pronounce, according to the law, that the application for nolle prosequi is hereby granted". Justice Yahaya therefore declared: "Consequently, you, Wasila

Tasiu, are hereby discharged." Earlier, the prosecution lawyer, Lamido Abba Soron Dinki, had tendered an application dated May 20 that was signed by the Attorney General and Commissioner for Justice urging the court to discontinue the high profile murder case.

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N8bn fraud: Court adjourns ruling Saudi summons Iran ambassador on bail applications to June 15 over mass poisoning Sola Adeyemo Ibadan

Federal High Cour t, sitting in Ibadan yesterday reserved ruling on the bail applications for the six Central Bank of Nigeria (CBN) and other staff of commercial banks charged with fraudulent diversion and conversion of N8b till June 15. Justice Nathaniel AyoEmmanuel, who heard the applications from the various counsels, adjourned the ruling till Monday.

Docked in three batches by the Economic and Financial Crimes Commission (EFCC) included Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunle Sunday, Kolawole Babalola, Olaniran Muniru Adeola , and Fatai Adedokun Yusuf, who were all charged on fivecount offences.  The second batch of the accused persons slammed with eleven counts included Kolawole Babalola, Olaniran Muniru Adeola, Togun Kayode Philips , Salami Ibraheem (Sterling Bank) and Oddia Emmanuel (Sterling Bank). Those in

the third batch included Kolawole Babalola, Olaniran Muniru Adeola Togun Kayode Philips and Tope Akintade ( Eco Bank). They were faced with a 15-count charge involving “false entry of cash deposited by the Eco bank of N490 million at CBN against N79.7million of N1, 000 mutilated notes between 2010 to 2014”. Counsel to all the accused persons urged the trial judge to admit their clients to bail, declaring that the charges against them were bailable according to the constitution of the country.

audi Arabia has summoned Iran’s ambassador over a mass poisoning which killed four children and left 28 other Saudi pilgrims sick, official media said yesterday. Riyadh called in the envoy “to express its serious concern over the incident, hoping the Iranian authorities quickly carry out investigation procedures to uncover the circumstances”, said Osama Nugali, the foreign ministry’s information division chief, quoted by the Saudi Press Agency. The website of Iran’s Press TV

reported that the poisoning occurred in Mashhad city, the spiritual capital of the Shiite country. It quoted Abdollah Bahrami, head of Imam Reza Hospital in Mashhad, as saying as many as 33 Saudi pilgrims were hospitalised on Sunday with poisoning symptoms. Four children had died. They had been staying at a hotel in the holy city, Press TV added. It cited Mashhad prosecutor Gholam Ali Sadeqi as saying a probe has been launched but there was no initial evidence of foul play. The poisoning came

with tensions high between Sunni-dominated Saudi Arabia and its regional rival Iran. Saudi Arabia leads an Arab-dominated coalition which for more than two months has been bombing Iran-backed Shiite rebels in Yemen. The kingdom’s Shiite minority has also been grieving over the murder of 25 people blown up in two separate suicide bombings at mosques in eastern Saudi Arabia last month. Both attacks were claimed by the Islamic State jihadist group, a Sunni extremist organisation that considers Shiites to be heretics.

Troops arrest masterminds of Gombe attack –DHQ Emmanuel Onani Abuja

he suspected masterminds of the bomb attack that rocked the Gombe Line Transport Services park last year, were arrested by troops on Sunday, after a shootout, the Defence Headquarters said yesterday. A statement signed by the Director of Defence

Information (DDI), Major General Chris Olukolade, noted that the suspects were arrested at a checkpoint in Bajoga area of the state, following surveillance and intelligence on their movements. It reads: “Two masterminds of last year bombing at the Gombe Line Transport Services have been arrested after a shootout with troops in Gombe on Sunday.

The two suspected high profile terrorists were eventually arrested following surveillance and intelligence operations that tracked them to a check point at Bajoga in the state. “One of them sustained serious injuries during the encounter. He is being treated at a military medical centre. “Interrogation of the suspects has started.”

Police, not court can sack Mbu, says Judge Akeem Nafiu

ustice Ibrahim Buba of a Federal High Court in Lagos has dismissed a suit seeking the removal of the Assistant Inspector General of Police (AIG), Mbu Joseph Mbu, from office over alleged abuse of powers. Delivering his judgement in the suit filed by a Lagos based lawyer, Tope Alabi, yesterday, Justice Buba declared that no court in Nigeria could declare the office of an officer of that rank vacant. Rather, it was the duty of the police to do

so. He said: “If any threat is made against any person, it is the duty of the police to investigate and punish the officer who made it accordingly, even if it is an AIG”. “No court in Nigeria can declare the office of such officer vacant; it is the duty of the police,” Buba held. The judge after considering all the arguments in the case, said that the case of the plaintiff has no merit and was dismissed. Tope Alabi, in the suit marked, FHC/L/ CS/149/15, is seeking a declaration that the first

defendant (Mbu) “is unfit to be a police officer in Nigeria”. The suit was sequel to Mbu’s alleged threat to kill 20 civilians for any policeman killed during the 2015 General Elections. In the suit, the plaintiff prayed the court to direct the then InspectorGeneral of Police, Suleiman Abba, the Police Service Commission and the Attorney-General of the Federation, Mohammed Adoke (SAN) (who are the second to fourth defendants) to declare Mbu’s office vacant and replace him without further delay.

Glo chief explains company’s success

elecoms services provider, Globacom, says its superior network quality as well as its proactive and responsive sales team are some of the factors that have given it the lead in the corporate enterprise solutions sector of the market. Mr Kamal Shonibare, Globacom’s Head of Corporate Sales, explained that many corporate organizations have chosen Glo for their voice and data needs. The organizations cut across international agencies, Oil

and Gas, Manufacturing, Banking, Food and Beverage, Insurance and Religion, amongst others. He said some of the organizations include the United Nations in the international agencies segment, Dangote Plc in Manufacturing, Chevron, Seplat, Halliburton Energy, Addax, NIPCO, Sterling Oil and Septa in the Oil and Gas sector and Sterling Bank, Stanbic IBTC and FCMB in the banking category. Others are Deeper Life Bible Church, Mansard Insurance as well as Nigeria Bottling Company

(NBC) and 7-Up Bottling Company in the Food and Beverage sector. Shonibare disclosed that Glo was also popular in the public sector, with the Presidency, Nigerian Immigration Service (NIS), Ministries of Internal Affairs and Aviation, the Nigerian Police Force (NPF), the Federal Road Safety Commission (FRSC), the Nigerian Army and the Nigerian Navy being some of the government establishments whose telecom requirements are provided by the network.

Flight passengers from Busan,South Korea, receiving a temperature check upon their arrival at Hong Kong.

China takes precautions as MERS virus spreads in South Korea

s Chinese authorities brace for a possible outbreak of the deadly Middle East respiratory syndrome (MERS) virus here they are so far steering clear of the sort of draconian steps they imposed when swine flu threatened the country six years ago. But the government’s quarantine rules are still much stricter than in neighboring South Korea, where nearly 100 people have been infect-

ed and seven have died. The virus is spreading in South Korea, forcing the closure of thousands of schools and leading the government to recommend that 2,300 people at risk stay at home in voluntary quarantine. The police have been asked to monitor those peoples’ cell phones to track their whereabouts. In China, meanwhile, 75 people who came into contact with a visiting South Korean later found

to be suffering from MERS were all located and immediately put into mandatory quarantine for two weeks. None of them have shown any symptoms; the tourist is so far the only case of MERS to have been diagnosed in China. “China has an advantage in these circumstances,” says Huang Yanzhong, a professor of public health at Seton Hall University in New Jersey.

Burundi opposition rejects new poll date

urundi’s opposition has rejected a proposal by the electoral commission to hold presidential polls on 15 July. The opposition said its demand for free elections have not been met. It also called for UN mediator Said Djinnit to resign, saying he had failed to tackle the crisis in the poor central African state. Burundi was hit by protests and a failed coup after President Pierre Nkurunziza announced in April that he would run for a third term. Western donors

have cut some aid to the country, and say they will not help finance the election. Mr Nkurunziza’s spokesman Philippe Nzobonariba said his decision to stand for re-election was “non-negotiable”, and the polls would not be delayed again. The proposed date falls short of a call by regional leaders to delay the poll, which had been scheduled for 26 June, by at least six weeks. The commission has suggested that parliamentary elections, originally due on 5 June, be shifted to 26 June. None of the opposition parties

attended the meeting two days ago where the commission unveiled the new dates, Reuters news agency reports. A group of 17 opposition parties had earlier issued a statement saying they were committed to dialogue, but repeated their demand for the 51-year-old Mr. Nkurunziza to quit, it reports. The BBC French Service’s Venuste Nshimiyimana reports that one of the main opposition parties, the National Liberation Forces (FNL), has condemned the electoral commission’s proposal as unconstitutional.

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Jack Warner accused of looting Haiti earthquake funds

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‘Hazard worth more than Ronaldo but less than Messi’

Women’s World Cup Dede, Oparanozie relish Falcons’ comeback

F’Eagles will excel against Germany, says Anyansi

Sport Adekunle Salami

he senior national team, the Super Eagles, seemed not to have learnt from the past mistakes as fresh crisis has engulfed the camp over bonuses. Authoritative sources revealed to our correspondent that the players are set for a showdown with the Nigeria Football Federation over the decision to pay $5,000 as winning bonus instead of the $10,000 being paid in the past. The players argued that if the football body was not ready to increase the amount it was unfair to reduce it heavily. Camp sources told New Telegraph that some of the players had threatened to reject the $5,000 bonus after the 2017 nations Cup qualifier against Chad on Saturday in Kaduna. To earn the $5,000 bonus, Eagles have to win the match. “Winning is not our problem, we are determined to win. We cannot have such a sharp reduction and be wellmotivated but we are going all out for a win. If the FA insists on the amount after the game we will reject it,” one of the players said on Sunday. However, some of the players who are new in the team are not part of the ongoing row. It was learnt that the new players in the team were excited to be in camp and do not want to be dragged into the

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FIFA WOMEN’S WORLD CUP

Emmanuel Tobi

U-20 World Cup

That On June 8 1995, the Super Falcons came from 2-0 down to draw 3-3 with Canada courtesy goals from Rita Nwadike, Patience Avre and Adaku Okoroafor. 20 years later on June 8 2015, Nigeria came from 2-0 to draw 3-3 with Sweden.

Fresh bonus crisis splits Eagles current imbroglio. Media officer of the Eagles, Toyin Ibitoye, said there was no crisis in the team and rather the players were working hard in preparation for the match against Chad. “We are all looking forward to the match on Saturday. The players are all eager and focused on the task ahead, “ Ibitoye said. NFF’s Deputy Director, Communications, Ademola Olajire, told our correspondent that the federation had told the team what everyone was entitled to. “$5,000 is for a win and there is nothing more. We are also going to ensure they sign Code of Conduct before the match. This issue of bonus is a thing of the past, we won’t allow any issue because we have all the camp rules documented already,” Olajire stressed. The Nigeria, Chad match takes place at the Ahmadu Bello Stadium Kaduna on Saturday.

Oupa Manyisa of South Africa during the Orange AFCON, Morocco 2015 Final Round Qualifier match between South Africa

Sweden coach laments draw with Falcons The Sport Team

• Okon commends team

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Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Emmanuel Tobi

Desire Oparanozie of Nigeria in action against Sweden

weden Women’s team coach, Pia Sundhage, has lamented her team’s failure to hold on to their lead in the 3-3 draw against the Super Falcons of Nigeria on Monday evening. The Group D opening game of the ongoing FIFA Women’s World Cup in Canada saw Sweden taken 2-0 lead into the second half of the game before a spirited fight back from the Super Falcons saw Ngozi Okobi and Asisat Oshoala leveling up score. Linda Sembrant handed the lead back to the Swedes but Francisca Ordega salvaged a point for the Nigeria three minutes from time. “We are not happy that we gave up three goals,” Sund-

hage said. “However, at the end of the day we got one point and there’s good things to bring to the next game. “The game plan was different than what you saw. Again, we got one point and next time, when we play the States, I hope we will follow the game plan.” Meanwhile, Super Falcons’ coach, Edwin Okon, has commended the performance of his team in the 3-3 draw against Sweden. The Rivers’ Angels coach said: “I feel okay after our first match.” “They (Sweden) expected to win, and at the end of the day we got a draw.” “Prayer is a key for the Nigerian team. We praise God. That is the key. I thought in the first half we were the stronger team.”

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WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

ITTF Egypt Open: Nigeria hit semifinal Ajibade Olusesan

igeria’s teenage sensations, Abayomi Animasahun and Michael Obayomi showed their stuff at the ongoing ITTF World Junior Circuit tagged Egypt Junior and Cadet Open after defeating the combination of Egypt and Tunisia 3-1 to qualify for the semifinal of the cadet boys’ team event. It was Obayomi who started the rout with 11-6, 11-9, 12-10 win over Egypt’s Marwan Nader but Animasahun could not increase the tally after he fell to Tunisia’s Youssef Ben Attia 7-11, 15-13, 10-12, 11-9, 11-8 to put the match at 1-1. In the doubles’ match, the pair of Obayomi and Animasahun combined very well to restore Nige-

Warner accused of looting Haiti earthquake funds

Animashaun

ria’s lead with 4-11, 8-11, 7-11 win over the duo of Egypt’s Nader and Tunisia’s Ben Attia. To cement Nigeria’s victory, Animasahun got his rhythm against Egypt’s Nader with 11-0, 12-10, 9-11, 8-11, 5-11 victory

to give Nigeria a 3-1 win over the North Africans. In the junior boys match, Nigeria will battle Egypt Team A for a place in the final while the girls’ team will also confront Egypt Team A in the semifinal.

ormer FIFA vice-presiudent, Jack Warner, already at the heart of a number of corruption charges, faces further allegations of wrongdoing, including a claim that he moved funds intended for victims of the 2010 Haiti earthquake into his own bank accounts. From papers drawn up by US authorities, Warner is accused of diverting US$750,000 in emergency funds donated by FIFA and the Korean Football Association. US investigators alleging the money went to accounts controlled by Warner, at “Warner’s direction” for his “personal use.” Warner was one of those arrested last month as part of the FBI investigation into bribery and corruption, and faces extradition. In 2012, the Trinidad & Tobago Football Federation (TTFF) claimed that funds donated for Haiti ($250,000 from FIFA and $500,000 from South Korea) was

diverted into an account controlled by Warner. At the time, Warner proclaimed his innocence: “I have nothing to answer to anybody. Who wants to make allegations can make allegations.”

Warner

NSC to revive Inter-Collegiate Games Chess Masters set for Millionaire Satellite Festival

he National Sports Commission is set to collaborate with the National Universities Commission to reactivate inter-collegiate games so as to ensure the return of sports excellence to all tertiary institutions in Nigeria. The Director-General of the NSC, Alhassan Yakmut, made this declaration while on a courtesy visit to the Executive Secretary of the NUC, Prof. Julius Okogie in Abuja on Tuesday. “In the Western Society, the bulk of Athletes that compete for medals at international

games are mostly drawn from the universities,” Yakmut said. “This is because the universities have more sporting facilities than elsewhere. They are therefore seen as natural source for the selection of budding talents.” Yakmut added that the collaboration with the NUC would see to the robust revival of the National Universities Games of which the Commission would provide all the necessary officials while noting that some Nigerian universities have upgraded their sporting facilities.

‘We are committed to rams sport promotion’ Ajibade Olusesan

resident of Ram Owners Association of Nigeria, Kayode Adumadehin, has said that the success of the just-concluded First Major International Ram Charging Competition solidified his association’s commitment to the development of the sport. Over 200 rams from five African countries featured in the competition which ended penultimate weekend at the Jalisco Sports Complex, Oshodi. Nigeria dominated the competition as rams from Cote D’Ivoire, Ghana, Republic of Benin and Cameroon were no match for the ones from the host

country. And Adumadehin said the tremendous support and turnout of fans was a testimony of the popularity of the sport and they hope to sustain it. “You can hardly see a crowd like this in a grassroots football match and this tells you that this sport is popular among our people. This is why we are appealing to corporate organisations to invest in this sport. This is our traditional sport and our people still follow the game passionately,” he said. Adumadehin also said that the Nigerian team would on Saturday feature in an international Invitational Tournament in Cotonou, Benin Republic.

fter several months of planning, the much anticipated Lagos Millionaire Satellite Chess Festival gets underway from today with all the best players in the country and sub-region set to storm the Chevron event centre, Gbagada, Lagos. For five days, Nigerian chess prodigies led by current National Champion, Bomo Kighiga, John Fawole, Bunmi Olape, Dapo Adu and Eugene Uwana all set to display their

Brume

Millionaire Chess is a company that promotes chess and organises global chess tournaments. The organisation conducted the first Millionaire Chess Open tournament which was held in Las Vegas, USA last year. With a total of $1,000,000 in prizes, it is the highest-stakes open chess tournament in history. The second edition of the Millionaire Chess is scheduled to come up from 8-12 October, 2015 in Las Vegas, USA.

StarTimes seals broadcast rights for Bundesliga

igital television network, Startimes, is now the exclusive broadcast sponsor of the German Bundesliga in Nigeria and the rest of the sub-Saharan Africa following the signing of a 5-year deal Tuesday in Tiajin, China at the ongoing 5th African Digital Television Development Seminar. The deal gives Startimes, the pay tv company with the widest country coverage, fastest growing subscribers and largest transmission capacity in African broadcasting industry the sole right to broadcast all German Bundesliga 1 games for the next five years. Pang Xinxing, president of the StarTimes Group says the the Bundesliga is one of the best football leagues in the world and it signals the

Charles Ogundiya

prowess on the chess board to determine the ultimate winner of the all- expense paid trip main tournament in Las Vegas USA in October 2015. The second prize winner will take home N100,000 while N70,000, N40,000 are also for grab for other players in same order. There are cash prizes for best female players and in the Open section. According to the President of Nigeria Chess Federation (NCF), Mr. Lekan Adeyemi,

thletes from across the country will on Thursday inside the Rojeeny Stadium, Oba, begin chase for the Athletic Federation of Nigeria Golden League jackpot of N1.5M. All the athletes are entitled to share in the jackpot prize, if they

Xabi Alonso of Bayern (middle) vying for the ball with Cologne player during a Bundesliga match

beginning of a robust drive to make StarTimes the preferred choice in digital television in Nigeria and the rest of sub-Saharan Africa. Jorg Daubitzer from the DFL Sports Enterprise GmbH, the

marketing arm of the Bundesliga, the partnership between the Bundesliga and StarTimes was inevitable because of the company’s position as the fastest growing cable and digital television network in Africa.

Athletes begin N1.5M Golden League chase

meet the requirements set aside by the AFN. The men will be competing in the 100 m, 200m ,400m, 800m, 1,500m, 110m Hurdles, 4x100m Relay and 4x400m Relay, High Jump, Long Jump, and Javelin, while the women will be competing in 100m, 200m, 400m, 800m, 400m

Hurdles, 4x100m and 4x 400m relay, High Jump, Long Jump and Shot put. To qualify for the jackpot prize, an athlete must win in all legs of Golden League and must participate at the Golden League Final. However, to prevent controversy, the AFN has said

it will adopt the IAAF standard and pay prize money to athletes through the athlete’s managers/coaches as officially appointed and conveyed in writing to the AFN secretariat. Athletes must score a minimum of 1070 points in for sprint events and 1050 in other track events.

International Sport 53

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

‘Hazard worth more than Ronaldo but less than Messi’

helsea star Eden Hazard is worth more in transfer value than Cristiano Ronaldo, according to a study by CIES Football Observatory. The report, which assesses the top 100 transfer values of players across the globe, claims that Hazard, named PFA Player of the Year for his outstanding performances for the Blues in their title winning season, has reached a figure of between 135.4 million and 148.9m. That puts the Belgium international behind Lionel Messi, who is valued at a total of up to 280.8m, at the top of the pile, while Real Madrid sensation Ronaldo is in

third, priced up at between 113.3m and 124.7m. Liverpool winger Raheem Sterling, who has been strongly linked with an Anfield exit this summer, is also part of the top 10, but Chelsea midfielder Cesc Fabregas misses out, featuring in 13th spot. Harry Kane, who, as exclusively revealed by Goal, is attracting interest from Manchester United, is also reflected favourably after a stellar season that saw him score 21 goals for Tottenham in the Premier League alone. The Spurs forward, currently on international duty with Gareth Southgate’s England Under-21 side, is in 15th, one place

above Gareth Bale, and is valued by the report at a fee of up to 58.9m. Paul Pogba, meanwhile, who Goal understands is set to be the subject of Premier League interest from the likes of Manchester City and Chelsea in the summer, could, based on the Football Observatory’s findings, cost potential suitors upwards of 68m. Parts two and three of Barcelona’s Champions League-winning attacking triumvirate, Neymar and Luis Suarez, who struck the decisive second goal in Saturday’s Berlin final, also feature prominently, while Thibaut Courtois is the highest placed goalkeeper in 18th.

Bilic appointed new West Ham manager

est Ham have confirmed they have appointed Slaven Bilic as their new manager on a three-year deal with the Croatian replacing the departed Sam Allardyce at Upton Park. Goal understands Bilic edged out competition from Marcelo Bielsa with both candidates having impressed co-owners David

Sullivan and David Gold. Bilic returns to the club where he played for 18 months during 1996 and 1997 and says he is thrilled to be back with the Hammers. “I’m really glad to be back with West Ham United,” Bilic said. “It’s in the Premier League, which is among the best in the world. It’s a big

challenge and you are competing with the best and what better club to do it with than West Ham. “I remember West Ham as a special club. I love these kinds of special clubs. My last club, Besiktas, was that kind of club. It’s not about the size – West Ham is big Club – there is something special about them - they are a cult clubs.

Juventus sign Khedira

uventus have confirmed that they will sign Sami Khedira on a free transfer upon the expiration of his contract with Real Madrid later this month. The Germany international failed to agree terms on a new deal with Los Blancos last summer and saw little game time under former coach Carlo Ancelotti during the 2014-15 campaign. Khedira had been linked with a return to the Bundesliga, with Schalke, while Premier League sides Chelsea and Arsenal were also said to be interested, but the World Cup winner has now elected to move to Turin. “Juventus Football Club has completed the signing of Sami Khedira,” read a statement released on the Bianconeri’s official website on Tuesday.

Eden Hazard (right) in action for Chelsea

Egypt court sentences 11 to death over violence

court sentenced 11 men to death on Tuesday for their part in Egypt’s worst violence at a football stadium, in which more than 70 fans were killed in 2012. Many of the dead were crushed when panicked fans tried to escape from the Port Said stadium after a post-match pitch invasion by supporters of the local side al-Masry. Others fell or were thrown from terraces, witnesses

said at the time. More than 1,000 were injured. The court, whose session was televised live, sentenced one of the men to death in absentia. Ten men got 15 years in jail, 14 were sentenced to 10 years, and 15 men received a five-year sentence. The charges included murder and attempted murder. Twenty-one people were found innocent. The verdicts can be appealed. Among those

FIFA WOMEN’S WORLD CUP

WOMEN’S World Cup

Emmanuel Tobi

Sweden lucky to escape defeat, says keeper

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weden goalkeeper, Herdvig Lindahl, has revealed that they were lucky to escape defeat after they battled to a 3-3 draw against Nigeria’s Super Falcons during Group D opening match of the FIFA Women World Cup in Canada on Monday. “Nigeria has a lot of good players who gave us a lot of problems but I think we should be happy with one point because we would have lost the game. We need to play better especially the way we wanted to play because Nigeria didn’t allow us to play our style,” the Chelsea Ladies of England player said. “I don’t know what really went wrong with our team because we were fortunate to score those two goals in the first half. Nigeria played very well and created a lots of chances. If we look at the chances, they could have won like 6-3 but we are happy with one point.” Lindahl however expressed optimism ahead of their next game against the USA on Friday stating that the Americans are beatable. “Our next game against the USA will be very difficult because they have a very good team and they are one of the favourites for the gold medal. Every game in the World Cup is difficult but we will always strive to get a win against them and see what happens next. “We play them every year at the Algre Cup and we defeated them last year and drew this year, so we can beat them though they have great and talented

who received a five-year sentence was the former Port Said police chief. The judge had referred the death sentence in April to Grand Mufti Shawqi Allam, the country’s most senior religious authority, in a step required by law for convictions in capital cases. Judge Mohammed alSaeed told Reuters that the Mufti approved of the 11 defendants’ death sentences.

Dede, Oparanozie relish Falcons’ comeback • Upbeat on Australia game

S Nigeria’s Asisat Oshoala (right) kick the ball in front of Sweden’s Nilla Fischer to score Nigeria’s second goal

‘We must get a win against Australia’

uper Falcons’ Coach, Edwin Okon, has said that his team’s second Group D game against Australia on Friday is a must-win. Okon, who hailed his side’s superlative performance against world soccer power, Sweden, said that the team would swiftly go back to correct lapses in the 3-3 draw. “We will go back to the drawing board to make sure we correct those mistakes of conceding own goals and not being able to defend

set-pieces,” Okon said. “We played a brand of football that was more of skill to entertain our fans. “Our next match against Australia is a must-win and we are moving forward from there. Nothing is going to stop us.” Scorer of Nigeria’s first goal against Sweden and Player of the Match, Ngozi Okobi, also said she was excited about the team’s performance and the individual award.

uper Falcons goal Keeper Precious Dede and striker Desire Oparanozie have applauded the thrilling 3-3 draw Nigeria played against Sweden on Monday at the Winipeg Stadium. The Falcons defense gave away two cheap goals in the first half against Sweden, failing to deal with most of the set pieces. The players while speaking with New Tele graph promised they would be improvement when there battle against Australia on Friday at the same stadium. “We know the first half didn’t go well and we made some mistakes. But we were determined to correct those mistakes, and that is why we came

out fighting in the second half.” “I can assure you that in our next game you would not see those mistakes again because we will correct them,” Dede assured. According to Oparanozie who gifted the Swedes with an own goal in the 21stminutes, “The own goal didn’t really weigh me down. But I am happy and thank God that we were able to get a result. I think it was a fair result. “We should have won the game because we were the better team, we possessed the ball more created a lot of scoring chances, we played better and I think we deserved to win,” the En Avant Guingamp of France striker added.

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WEDNESDAY, JUNE 10, 2015 NEW TELEGRAPH

FIFA U-20 World Cup

F’Eagles will excel against Germany, says Anyansi F

Success pays Awoniyi $200 for brace

hairman of the Nigeria Football Federation Technical and Development Committee, Felix Anyansi, believes the Flying Eagles will triumph over Germany in their FIFA U-20 World Cup Round of 16 clash in Christchurch on Thursday. “The Flying Eagles know what to expect when they go in there against the Germans,” he said. “Apart from having watched tapes of the German team in action in the group phase, our boys had their final training camp in Germany and played friendly matches against German teams, winning all three games. “I am not in any way saying that the match will be

easy. It is going to be tough, very tough. But I believe that knowing what to expect, the Flying Eagles’ technical crew and players will perfect their plans on how to get the better of the European champions.” During their final training camp in Nurnberg, Manu Garba’s wards thumped FC Nurnberg’s second team 5-0, drilled Hoffenheim’s second team 5-2 and walloped Freiburg FC’s second team 4-1. Thursday’s clash of continental champions is expected to be explosive, with the African champions boasting a well-knit squad capable of bringing down any opposition on their good day. And Anyansi-Agwu believes Thursday will be their good day.

lying Eagles striker Isaac Success has paid out a bonus of $200 to fellow striker Taiwo Awoniyi after his goals against Hungary. Granada striker Success had promised Awoniyi the cash before the match and he made good his promise when the lanky striker hit a brace on Thursday in New Plymouth. “He paid Awoniyi from his match bonus from the game,” disclosed a team official. Asked who will be the next beneficiary of his generosity, Success simply smiled before he said, “We just have to wait and see.” Awoniyi tops the goals’ chart for the Flying Eagles with two goals and two assists, while Godwin Saviour has two goals and one assist. Success and Musa Yahaya have scored a goal apiece.

Awoniyi (right) during the match against Brazil

Flying Eagles battle cold ahead Germany clash

Flying Eagles players in training ahead Germany clash in Christchurch

igeria’s Flying Eagles had to battle the cold and wind for their first training at the Ferrymead Park in Christchurch ahead of Thursday’s U20 World Cup Round of 16 clash against Germany. Tuesday night’s training was under floodlights under a cold chill with a strong wind. The temperature was put at a “warm” 16 degrees, but locals warned that it will be much colder on match day as forecasts say it will be between 10-0 degrees then. However, fullback Mustapha Abdullahi said he was not affected by the adverse weather conditions. “I like playing under the cold because I last a lot longer, I don’t get tired easily. Once

you get properly warmed up, you will be fine,” he said. Skipper Musa Mohammed missed the session as he was at the dentist over a bad tooth ache. “I feel a lot better now and I will be ready to play on Thursday,” Mohammed reassured on his return from the dentist. Team spirit was sky-high as players sang on their way from training to their Rydges Hotel, with the players’ confidence further boosted when Nigerian residents in Christchurch treated them to local dishes of Semovita, pounded yam with Egusi soup. The team’s final training will be at 1pm local time on Wednesday, with the match scheduled to kick off at 7.30 pm on Thursday, which is 8.30am in Nigeria.

Success

ROUND OF 16 FIXTURES Wednesday 10 June Ghana v Mali

5am

Wednesday 10 June Serbia v Hungary

5am

Wednesday 10 June USA v Colombia

8:30am

Wednesday 10 June Ukraine v Senegal

8:30am

Thursday 11 June

Austria v Uzbekistan 5am

Thursday 11 June

Germany v Nigeria

Thursday 11 June

Portugal v N’Zealand 8:30am

Thursday 11 June

Brazil v Uruguay

8:30am 8:30am

Sweden players tried to cage me – Oshoala Super Falcons striker, Asisat Oshoala, in this exclusive interview with EMMANUEL TOBI speaks on how she managed to escape from the restrain of the Swedish players during the group match at the FIFA Women’s World Cup on Monday.

Congratulation for salvaging a draw with Sweden, how would you describe the game? It was a very difficult game because we had to comeback trice to level up the game after conceding two scrappy goals in first half. It was a game we knew we could have won because nobody gave us a chance but we were determined to prove a point to the whole world. Sincerely, the two goals unsettled us but we never gave up. You conceded two quick and cheap goals, how was the mood at the locker room during half time? We conceded two quick goals but we knew we had no other option than to come out stronger in the second half and that was inspired us when we got to the pitch.

Oshoala

What did the coach tell you that changed the game? We told ourselves we have to come back stronger and I’m happy we got the result.

You didn’t play well in the first half, what happened? I realised I was the target and its normal when everybody knows you. I’m not going to say I’m a key player or a star player but I know they have watched my game especially at the last U-20 World Cup. During the first half, they came all out for me but I said to my teammates to play the ball more on the other side so that when I get the ball I can make use of it well. We planned it out because football is about planning because if the opponents come on the play too much, you just have to change the game. How do you feel scoring your first World Cup goal? This is the senior World Cup and I feel great to score my first goal at this level. I’m very happy about it, I’m proud of myself, I’m proud of my team and nation. I’m doing what I know how to do best and I’m grateful to God for always helping me to fix things up.

NEW TELEGRAPH WEDNESDAY, JUNE 10, 2015

Congratulations!

His Excellency, Atiku Bagudu, Executive Governor, Kebbi State

My family and I wish to congratulate Your Excellency Atiku Bagudu on your election as the Executive Governor of Kebbi State. This is a true attestation of your ability by the people of Kebbi State to take the state to the next level. We wish you a successful tenure in office. Signed

Dr. Orji Uzor Kalu, MON Chairman,

Slok Shipping

On Marble “Whole life is a search for beauty. But, when the beauty is found inside, the search ends and a beautiful journey begins.”

World Record

Sanctity of Truth

Christopher Alexander Sapara Williams (1855–1915) was the first indigenous Nigerian lawyer, called to the English bar on November 17, 1879.

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WEDNESDAY, JUNE 10, 2015

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The bar in the caliphate

he Nigerian Bar Association held its National Executive Committee Meeting (NEC) in Sokoto State, the seat of the Caliphate on the 3rd-5th June, 2015. The National Executive Committee of the Nigerian Bar Association is the second highest decision making body of the Association. The National Executive Committee is made up of statutory members comprising Chairmen and Secretaries of all the branches of the Association, former Presidents and Secretaries, National Officers, one nominated member of a Branch and Co-opted NEC members as well as pre-accredited observers. Significantly, the Sokoto NEC meeting was the first meeting of the Nigerian Bar Association under the new administration headed by President Muhammadu Buhari. The NEC meeting also represents the most significant event or function in Nigeria after the inauguration of the new administration. The meeting also marked the first fundamental official function undertaken by Rt. Hon. Aminu Waziri Tambuwal as the elected Governor of Sokoto State. For Rt. Hon. Tambuwal, the Sokoto NEC meeting had multidimensional significance. This is because he served as the Secretary of the Nigerian Bar Association Sokoto Branch and participated actively in the meetings of the Committee of Chairmen and Secretaries of NBA under the leadership of Chief Adegboyega Awomolo SAN that resuscitated the Nigerian Bar Association. I served as the Chairman of the Nigerian Bar Association, Kaduna Branch during the period. Tambuwal also served the Nigerian Bar Association at the National level as 1st Assistant Secretary and has remained a member of the National Executive Committee of the Bar since then. He is also a member of the Body of Benchers and presently, serves as the Chairman of NBA House Fund Raising Committee. It is possible that the leadership of the Association decided to hold the first NEC meeting of the Association in Sokoto to honour Rt. Hon. Aminu Waziri Tambuwal and his contributions to the Bar Association. It is possible that the NEC meeting in Sokoto State at this point in time was a coincidence as the bid by the Sokoto Branch of the Nigerian Bar Association to host the NEC meeting took place before the general elections. It is possible that the meeting earlier scheduled to hold in Sokoto from 12-15 May, 2015 was shifted to 3-5 June, 2015 on logistic grounds. All these are in the realm of speculation but one thing is clear, the choice of Sokoto for the NBA NEC meeting was worth the wait and the efforts. But fate and the exigencies of State duty combined to take the Governor away from Sokoto State for the most part of the NEC meeting as the President of the Federal Republic of Nigeria requested him to accompany him to Chad and Niger in continuation of the regional cooperation and coordination effort against insurgency. In his absence, his formidable team in the Bar Association led by Hon. Inuwa Abdulkadir (The Magatakrda Babba) of Sokoto and Chairman of the Local Organizing Committee coordinated things. He was assisted by formidable Bar Activists including

Hard Choices FESTUS OKOYE

festokoye2003@yahoo.com 08054480565 (sms only)

Alegeh

Tambuwal

Chief Steve Nwoke, the Chairman of the Bar, L.S.Wali, the Director of Civil Litigation in the Ministry of Justice, Chief J.E. Ochidi, A.Y Abubakar, M.Nuhu, Dr. Balkisu Saidu and Aisha A. Illo among others. Of course our colleagues, Steve Emelize and Paul Kassim added colour, rhythm and organization to the operations. On June 3, the Chief Judge of Sokoto State, Hon. Justice Aisha Sani Dahiru OFR hosted the Bar to a cocktail. The following day, she addressed the NEC and pointed out that some Governors are of the view that an independent Judiciary at the State level may pose a threat to them and urged the Bar to assist in impressing on the Governors that they have nothing to fear as an independent judiciary with financial autonomy will be an asset to the various states and the nation. On Friday the 5th day of June 2015, Rt. Hon. Tambuwal of Sokoto State and immediate past Speaker of the House of Representatives returned to Sokoto and had audience with the NBA led by the President Augustine Alege SAN. Of course the Governor knew almost 90 per cent of the key leaders of the association by their names, their branches and their areas of interest and specialization. He acknowledged the fact that he is an ambassador of the association in government. He pledged to be creative, innovative and forward looking in the running of the affairs of the State. He acknowledges the contribution of his leader and former Governor of the State Alhaji Aliyu Wamakko to the developmental strides of the State. He also promised to do the constitutionally needful to guarantee the financial independence of

the judiciary in Sokoto State. The NEC meeting has come and gone and there is no doubt that the leadership of the Association, led by Alege has made tremendous contributions to the growth of the association. In the last one year, he has pioneered and or consolidated on the Stamp Policy of the Association meant to domicile the franking of all documents and court processes with lawyers. He has commissioned the issuance of Bar Practice License to lawyers. The Bar now has a workable insurance policy. He has also introduced the NBA Visa Affinity Cards and the NBA National Pro Bono Centre. The NBA House Project and its Draft New Constitution are at advanced stages of completion. So, the leadership has done well in terms of advancing the interests of the profession and legal practice. However, anytime the Nigerian Bar Association is meeting, the Nigerian people wait with breathless interest to know the thinking and views of the legal profession on a myriad of issues. Unfortunately, the first day of NEC meeting is arrival day, the second day is devoted to the actual meeting and the third day is for departure. It is therefore next to impossibility for the association to meaningfully and robustly discuss the state of the nation and map out creative strategies and tactics on how to tackle national challenges. More often than not, reliance is exclusively placed on the address of the President for the roadmap and this for me is inadequate. The Nigerian people want to know the views of the Nigerian Bar Association regarding the Muhammadu Buhari administration and how the Bar intends to engage it going forward. I am aware that the President of the Nigerian Bar Asso-

ciation issued a statement on the 29th day of May, 2015 to mark the 2015 democracy day celebration and inauguration of new Federal and State Governments. In the said statement, he pointed out that “There are divergent views on the success of the President Jonathan administration. However, the NBA greatly appreciates the success of the administration in passing into Law the Freedom of Information Act, the Evidence Act, the Prohibition of Violence against Persons Act, the Administration of Criminal Justice Act and other Justice Sector legislation. We must also state that the inability of the administration to pass into Law the Petroleum Industry Bill, the Prisons Reforms Act and the Police (Amendment) Act and several other Justice sector Bills represent low points for the administration. For the new administration the President of the NBA pointed out that the Bar expects the new administration in the first 100 days in office to “tackle the problems of infrastructural deficiency, unemployment, insecurity, pervasive corruption, revenue leakages and persistent scarcity of Petroleum products. Though these issues are pressing, the NBA expects the administration to also set out as part of its agenda the amendment and reformation of Nigerian Laws to make them meet present day challenges. Government policies must be backed by law and to actualize the desired change agenda there must be reformation of our Laws to give legal backing to the change agenda. The President of NBA reiterated these points in his address during the Sokoto NEC meeting. Now, the Bar Association is not just an ordinary professional association. It is an association of learned men trained in the law and imbued with the requisite skill and knowledge to analyze, interpret and reinterpret laws and see issues from a more sober and analytical perspective. The Bar Association which is the umbrella body of all Nigerian Lawyers is the gatekeeper for the Nigerian people in relation to issues around the rule of law, due process and the independence of the judiciary. Concretely speaking, the Bar Association complements the Nigerian judiciary as the guardian of the Constitution and the law. The Bar must continue to act progressively in defence of the rule of law and due process. Our Bar must be an activist Bar. It must be a non partisan Bar. It must be a Bar that must be taken into consideration and consulted on key national issues. It is unacceptable that some Governors have remained recalcitrant in relation to the issue of financial autonomy for the judiciary. We cannot claim to be the defenders of the law when Courts are either destroyed or bombed in politically motivated circumstances and we only issue condemnatory statements. We cannot keep quiet when judicial officers are beaten up in the due performance of their functions. The inauguration of the Buhari Administration offers the Bar a chance for a new beginning. The Bar must engage the new regime in a fundamental way that offers critical direction in the area of the rule of law, due process and the independence of the judiciary.

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