Wednesday, may 20, 2015 binder1 by Newtelegraphonline

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Wednesday, May 20, 2015

Vol. 2 No. 455

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Zamfara governor emerges new ngf's chairman

CBN frees money for growth

NEW TELEGR

APH WEDNES

The Mega DAY, MAY 20,

N150

2015

...EXCLU SIVE LAG OS MAG AZINE

City

lPegs public, private cash ratio at 31% lLeaves interest rate unchanged Ayodele Aminu and Abdulwahab Isa Abuja

he Central Bank of Nigeria (CBN) yesterday eased the liquidity at the disposal of banks by setting a unified cash reserve ratio (CRR) for

public and private sector funds at 31 per cent, in a bid to accelerate growth of the economy. The CBN Governor, Mr. Godwin Emefiele, who briefed

newsmen after the two-day Monetary Policy Committee (MPC) meeting in Abuja, also said the benchmark interest CONTINUED ON PAGE 6

Vehicles and

motorcycles

The other side queuing at

a filling station

of fuel scarcit

eight pages of y }21 mega city It is not the best of times has becom for Lagos busin ea ess owners motorists wearcommon recurrence in Nigeria, Lagos as the fuel scarcity bites The scarcity ing long faces. Intere hard on their stingly, most particularly brought of fuel, there businesses about of Lagos’ busin fore, meant and profits. that businesses esses make long queues at several The scarcity, filling use of which could not be run effectively their generating sets stations, with several LIFE IN THE CITY for at . RUTH OKOC ined up like HA and IFEOL least, eight hours daily. Arresting the pushed arounchildren and UWA IDOW d by fuel U report tendants, atdecay Lagosians power her 25

on queue stood generator last week, set. stations acrosss at many filling I could not “That put an increa the state just on time. get fuel purchase se on As to fuel. It is able to work such, I was not It is not easy rightour prices. their busine either for now.” He power supplyand there was no added that, “for al purposes. sses or for person now some custom . Somehow, I lost electricity is terrib in Lagos, the scorch They didn’t mind le.” ing A group me, my husbaers. Luckily for determined sun as they were of taxi who were nd was able struggle to seated at drivers, at all cost. to purchase fuel to beside get their park, me about This tres.” She has trend in five li- disclo Tecno filling explai every part been the station sed that she had increa ned. Asked if for weeks of Lagos some of had stoppe now. sed the price her services, d working them Perpetua of since can’t increa she answered; “I the beginning of a roadside Ezegwu, who is the scarci se it, becaus They compl with the norma ty. plained thatfood seller, come even ained that it was not conve l price, the scarci are compl fected her nient for aining. But people spend most in the ty afthem to Business has long fuel transport. ty, busine with the tions and hours at filling staShe explai area of not beenscarci ss has not not make transportatio ned that pleasant.” profit from been pleasant, it. Wakili For Seyita usually cost n to places that Atanda, ing manag n Olamide, act- taxi drivers, who one of the and N150, N50 now cost N100 we are not er of Minim spoke with our corres and not in all though this was as Bar pondent, locate it was said cases. On finding it funny Bergehotel, of foodst the cost r, the scarci d at Ojodu fuel not just the scarci that uff, she that was ty ty of fuel causing loss explained that there a problem, of is but plained that of profit. He ex- also the disparity increase. has been a slight of person the busine “The proble “Of course being run s. are just a ss was m is reduci , things at bit ng now. “Concerningan expensive rate. I just bought at than before expensive more Oando, and . For instan we are not the fuel scarcity, they sold at a better rice that ce, price. The we presently; finding it funny price has reduce 500 now goes used to buy N8, d and I did it is really queue there for N9, 200,” not ing our busin said. affectfor too She we don’t ess. Presen we run the know if it long. So, Oluwatosin tly, business pensive rate. on an ex- better by tomorrow.”could get owns a photo Shobiye, who Atanda graphy studio buy like 10 Like before, we explained furthe lamented r , that she we use dailylitres of fuel, that had to increase our that, “We customers lost some fares when tween N150 . Now we buy be- the fuel becam not able to because she was e scarce and N170 get fuel on and which is per litre, expensive. We starte time to affecting at N140 per d buying us presen ly. And due litre. There to the increm t- no choice of our busine but to increa was ss, we can’t ent se the just

How Mu'azu, others betrayed Jonathan MY CITY MY WORLD Justice will enhance chang Lagos – Olalek e in an 27

OLUWATOSI N OMONIYI CITY EDITOr

tosin.omoniyi@ne wtelegraphonline

.com © Daily Telegrap h Publishin g Company Limited

CONTIN UED

ON PAGE 22

lFani-Kayode opens up on PDP chiefs' sellout lMetuh: We won't dignify him with response }2

Quick Read

Editorial L-R: New Chairman, Nigeria Governors’ Forum (NGF) and Zamfara State Governor, Alhaji Abdulaziz Yari; his predecessor and Rivers State Governor, Mr. Chibuike Amaechi and Akwa Ibom State Governor, Chief Godswill Akpabio, at a press conference after the NGF unity meeting in Abuja... yesterday. PHOTO: elijah Olaluyi

APC drops zoning of offices }2

Citizen Ososan must not die in }19 vain

FG orders Bayelsa CJ to swear in Wike }6

News

WEDNESDAY, May 20, 2015 NEW TELEGRAPH

How Mu'azu, others betrayed Jonathan

Onyekachi Eze ABUJA

he war of words among Peoples Democratic Party chiefs over the party's trouncing in the last general elections continued yesterday with former Director, Media and Publicity of the PDP Presidential Campaign Organisation, Chief Femi Fani-Kayode, accusing some party leaders of sabotage. Fani-Kayode, yesterday in Abuja, accused PDP National Chairman, Alhaji

Adamu Mu'azu and National Working Committee (NWC) members of working against the re-election bid of President Goodluck Jonathan. Fani-Kayode, while reacting to the party's allegation that PDP lost the presidency to the hate campaign against the All Progressives Congress (APC) candidate, Major General Muhammadu Buhari, accused the party leaders of executing a personal agenda during the campaign. PDP National Publicity Secretary, Mr. Olisa Metuh,

had recently accused the PDP Presidential Campaign Organisation of ignoring the party's warning on the hate campaign, saying nobody should blame the NWC members for the electoral defeat. Since the PDP trouncing, many stakeholders, including governors, have called for the ouster of Mu'azu and other NWC members. Fani-Kayode joined the Mu'azu-must-go campaign, saying the party leaders worked against the president because they felt they were marginalised during

the electioneering. According to him, the allegation by the NWC members against the campaign organisation is an attempt to cover up their treachery, weaknesses and inadequacies. He said: "From day one, all they did was sulk about the fact that a Presidential Campaign Organisation had been set up and that they would not be able to have control of the campaign themselves or have access to the resources that we were given. At every point, they tried to undermine our efforts and sabo-

tage us, but we ignored them and remained focused on doing our job despite their provocations." He added that if any group of people was responsible for the party's loss, it was NWC members whom he described as "a bunch of bitter and treacherous ingrates who have no business leading a political party." He alleged that the NWC members were collecting monies from aspirants and promising to give them party tickets. He added: "We in the PCO were not like oth-

L-R: Former Head of State, General Yakubu Gowon; Sultan of Sokoto, Alhaji Sa'ad Abubakar III and Sokoto State Governor, Alhaji Aliyu Wamakko, during Gowon’s visit to Sokoto…yesterday.

APC drops zoning of offices Ayodele Ojo

nlike the outgoing ruling party, the Peoples Democratic Party (PDP), the All Progressives Congress (APC) will not make zoning of public offices a cardinal policy, it was learnt yesterday. Faced with a crisis over the zoning of positions for principal officers of the National Assembly, APC has now dropped the idea with a view to allowing lawmakers a free hand in electing leaders for the Eighth National Assembly due for inauguration on June 4. The lawmakers are to decide on choosing their leaders, using other considerations such as competence, integrity and acceptability among members. It was learnt that the party leadership had toyed with the idea of zoning the offices shortly after the April 11 general elections, but at a meeting of party elders with the President-elect, Major General Muhammadu Buhari, last week, the idea was jettisoned “to allow

a free contest among the legislators.” National Chairman of the APC, Chief John Odigie-Oyegun, was said to have mooted the idea until other party elders shot down the concept of zoning. With a majority in the Senate and House of Representatives, lawmakers elected on APC platform are locked in a fierce battle on picking the Senate president and Speaker, House of Representatives. Senators from the North-East and NorthCentral are battling for the Senate presidency. Already, three major contenders for the Senate presidency have emerged from the two zones. Chairman, Committee on Public Accounts, Senator Ahmad Lawan from Yobe State in North-East is battling two former governors from the North-Central: George Akume (Benue) and Bukola Saraki (Kwara). In the race for the speakership, five of the six zones have indicated interest in the office. Only South-East is out of the race as it did not produce a ranking

APC lawmaker from the House. Speaking with New Telegraph yesterday, former Interim National Chairman of the APC, Chief Bisi Akande, said after Odigie-Oyegun made attempt to introduce the concept of zoning into the party, the idea was shot down by the party leadership. He said the APC leadership believed that zoning of public offices was one of the factors responsible for the failure of the PDP. "Zoning is very strange to my party. There is no zoning in our constitution and we don't want to copy the PDP in anything we are doing. We want to be very wary and careful about things. We have the best of brains and culture among our leadership. And we want to give Nigeria the best. Because of that, we don't want it to become part of our culture at the beginning. "It is true that, sometimes, after the elections, the national chairman wanted to toy with the idea of zoning and unanimously, we said no. We

don't want to zone. We are taking over from a delinquent administration and one of the most prodigal institutions of that administration is the National Assembly. I used the word prodigal because, according to the governor of the Central Bank of Nigeria, the recurrent expenditure of the National Assembly was N10 billion at the beginning. But, it rose to about N150 billion and the clamour in the country is that their personal income is prohibitive and in secrecy. So, all these created, maybe, the scramble for the leadership of the National Assembly. "We don't want our party to be involved in the prodigal nature of the National Assembly. To prune it down, we need to compromise and make sacrifice and we need to select among the leaders of the party who are members of the Senate that will be able to control the culture of the National Assembly according to the policies of our party. So, because of that, we want to be cautious about zoning. We unanimously agreed that

we didn't want to zone," Akande stated. According to him, zoning of offices can throw up challenges that will affect the fortunes of the party negatively. He said the race for the leadership of the National Assembly would be thrown open to the lawmakers. Akande said: "Everybody is free to fight for the position. I want the best man to occupy the position. The trouble we have is that some people are asking for zoning and we are asking questions: Is it zoning according to nationalities? If yes, within the North-Central alone, there are many nationalities. Not one, not two, two three, not four. Is it zoning according to religion? So, we want to be very careful. We don't introduce into our system what has not been there before. "We don't want to say choose on the basis of being Christian, Muslim, Yoruba, Igbo, Hausa. Otherwise, we won't be able to get the best in terms of appointment. That is why CONTINUED ON PAGE 6

ers that were collecting monies from all the various PDP aspirants in the states and promising them the party's nomination and tickets. "Were some of them not dividing the ranks of the party? Were some of them not really trying to undermine the efforts of the Presidential Campaign Organisation right from the start?" He called for the sack of NWC members because they have no capacity to withstand the onslaught of APC when the party takes over power on May 29. "We must throw out the bad eggs in the NWC and prepare for a long-drawn war of attrition with the new incoming government. In order to survive over the next four years as a party, we must make the necessary changes at the top; otherwise we will be utterly decimated. "The present leadership of the party, particularly its information organ, has no chance of standing up to an APC Federal Government because they are weak and they lack understanding and courage. They will be savaged beyond belief and torn apart if they try it because they do not have the stomach, the grit, the appetite or the wherewithal for a longdrawn fight," he stated. He advised the NWC members to learn from the Labour Party and the Liberal Democratic Party leaders in the United Kingdom who resigned a few hours after losing the election to the Conservatives. "They resigned with honour and no one had to ask them to go or call for their resignation. They did the right and proper thing because they are well-educated people who have honour," Fani-Kayode said. When confronted with Fani-Kayode's allegations, Metuh declined to comment on the issue. He said the party would not be distracted by taking issues with every member who raised allegations agaist its leaders on the fallout of the general elections. "We are saddled with party administration. The party has a channel of communication. Every responsible party member will follow such channel to lay his grievances. That is what we expect Fani-Kayode to do. "He has a ward chairman, let him lay the complaint to him. We don't have to reply to every member of the party. Any member of the party who has a view to express should forward it to the Ekweremadu committee," Metuh stated.

NEW TELEGRAPH WEDNESDAY, May 20, 2015

SPECIALonREPORT The 8th Senate’s Fresh Generation Godswill Akpabio

Aliyu Wamakko

Jonah David Jang

Stella Adaeze Oduah

Samuel Egwu

Rabiu Kwankwaso

Theodore Orji

Mao Ohuabunwa

Uche Lilian Ekwunife

Buruji Kashamu

Jeremiah Useni

Abubakar Kyari

Ben Murray Bruce

Peter Nwaoboshi

Biodun Olujimi

Dino Melaye

Monsurat Sunmonu

Bayero Usman Nafada

Bala ibn Na’Allah

Isiaka A. Adeleke

Abubakar Danladi

Adeola Olamilekan

Binta Masi Garba

Rafiu Adebayo Ibrahim

Mustapha Bukar

Duro Samuel Faseyi

Fatimat O. Raji-Rasaki

Shehu Sani

Mustapha Bukar

Philip Aruwa I Gyunka

Buhari Abdulfatai

Suleiman O. Hunkuyi

Osinakachukwu Ideozu

Danjuma La’ah

Bassey Albert Akpan

Olanrewaju Tejuoso

Mohammed A. Ohiare

Nelson Asuquo Effiong

Achonu A. Nneji

Sabo Mohammed

David Umaru

Umaru Ibrahim Kurfi

Barau I Jibrin

Nnaemeka Anyanwu

Clifford A. Ordia

John Enoh Owan

Mathew A. Urhoghide

Utazi Godfrey Chukwuka

Rilwan Adesoji Akanbi

Gbolahan Dada

Abdul-Aziz M. Nyako

Francis A. Alimikhena

Olaka Johnson Nwogu

Ogba Joseph Obinna

Tijjani Yahaya Kaura

Donald Alasoadura

Rose Okoji Oko

Yele Omogunwa

Ogola Foster

Gershom H. Bassey

Suleiman M. Nazif

Malam Ali Wakili

Abdullahi A. Gumel

Marafa Bashir Abba

Yahaya Abdullahi

Abdulrahman Abubakar

Salihu Hussain Egye

Mohammed Garba

Ighoyota Amori

Aliyu Sabi Abdullahi

Ahmadu Abubakar

Mohammed Hasan

Isah Hamma Misau

Ibrahim Abdullahi

Muhammad Ubali Shitu

On June 4, 2015, the eighth Senate of the National Assembly will be inaugurated. Of the 109 Senators who will be taking their seats, 75, representing 68 per cent will be fresh in the upper chamber. Who are these fresh Senators? What are their backgrounds and antecedents? What quality of debate and contributions are we likely to see from them? These and more will be the kernel of a special report by New Telegraph on that day. The report presents a unique opportunity for family, friends and associates of these fresh Senators to felicitate with them. For enquiries and participation: Call Biodun: 0802-301-5582, Taiwo: 0803-304-2915, Onwuka: 0803-733-9843, David: 0810-759-1663

Travel Advisory

WEDNESDAY, May 20, 2015 NEW TELEGRAPH

International Flight Schedule Air France

Destination Abuja- Paris Paris-Lagos Paris-PHC PHC-Paris Paris –Abuja Lagos –Paris

Flight No. AF 513 AF 3822 AF514 AF513 AF514 AF3849

Departure 23.55hrs 10.55hrs 11:00hrs 21:20hrs 11:00hrs 23:55hrs

Arrival 6:05hrs 17:15hrs 19:15hrs 6:05hrs 17:00hrs 6:20hrs

Amsterdam-Lagos Lagos-Amsterdam

KL587 KL588

13:15hrs 23:05hrs

20:00hrs 05:50hrs

KLM

ARIK AIRLINES

Lagos-London London-Lagos Lagos-New York

W3 101 W3 102 W3 107 (Mon, Wed , Fri) New York-Lagos W3 108 (Tues,Thurs, Fri) Lagos-Johannesburg W3 103 Johannesburg-Lagos W3 104 Lagos-Douala - (Tues, Wed ,Thur) Douala-Lagos - (Tues, Wed, Thur) Lagos-Accra Accra-Lagos

Abuja-Accra Accra-Abuja Lagos-Freetown Freetown-Lagos Lagos-Banjul Banjul-Lagos Lagos-Dakar Dakar-Lagos

-(Tue, Thur, Sat, Sun) -(Mon, Wed, Fri) -(Daily) - (Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Wed, Fri, Sun) -(Mon, Tue, Thur, Fri,Sat) -(Tue,Wed, Fri,Sat,Sun)

BRITISH AIRWAYS

London-Lagos Lagos-London Abuja-London Abuja-London

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

Lagos-Cairo Cairo-Lagos

MS 876 MS 875

14:25hrs 08:30hrs

22:20hrs 13:30hrs

EGYPT AIR

KENYA AIRWAYS

16:00hrs

Lagos-Kigali

11:15hrs

16:45hrs

10:45hrs 09:35hrs 11:10hrs 13:25hrs 07:20hrs 17:00hrs 08:05hrs 13:35hrs 18:00hrs

hrs 14:44hrs hrs hrs hrs hrs hrs hrs hrs

AWB 201 (Mon, Wed, Fri, Sun) AWB 202 (Tue, Thur, Sat, Sun)

14:00hrs

17:30hrs

22:35hrs 15:10hrs

06:00hrs 21:20hrs

17:00hrs 06:00hrs 08:00hrs 17:00hrs 08:00hrs 15:20hrs 21:00hrs

hrs hrs hrs hrs hrs hrs hrs

01:00hrs

hrs

3:00hrs 14:00hrs

8:00hrs 19:00hrs

EK 7821 (Sun-Sat) EK 7822 EK 7831 EK 7811 EK 761

21:30hrs 14:40hrs 07:35hrs 14:20hrs 23:55hrs

07:40hrs 01:05hrs 12:50hrs 19:45hrs 10:30hrs

Lagos-Doha Flight Doha-Lagos Flight

QR 1414 (daily) QR 1415

14:55hrs 07:20hrs

23:45hrs 13:35hrs

Lagos-Atlanta Atlanta-Lagos

DL053 DL 054

22:15hrs 5:15hrs

05:32hrs 16:15hrs

Lagos-Houston Houston-Lagos

UA 143 UA 142

10:10hrs 19:10hrs

6:05hrs 15.15hrs

Lagos - Addis Ababa ET900 Addis Ababa - Lagos ET901 Abuja - Addis Ababa ET910 Addis Ababa - Abuja ET911 Enugu - Addis Ababa ET930 Addis Ababa - Enugu ET931 Kano - Addis Ababa ET930 Addis Ababa - Kano ET931

13:15hrs 09:00hrs 13:40hrs 09:40hrs 12:00hrs 09:20hrs 14:05hrs 09:20hrs

20:25hrs 12:15hr 20:10hrs 12:20hrs 20:50hrs 11:15hrs 20:50hrs 13:20hrs

Lagos-Madrid Madrid-Lagos

IB 3337 IB 3336

22:55hrs 16:00hrs

5:25+1hrs 20:20hrs

Lagos-Casablanca Casablanca-Lagos

AT738 AT 737

06:25hrs 02:15hrs

09:55hrs 6:00hrs

air maroc

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

12:30hrs

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

IBERIA

Abu Dhabi-Lagos

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

19:35hrs 23:45hrs

MEA 571 MEA 572

ETHIOPIAN AIRLINES

Lagos- Abu Dhabi

ETIHAD AIRWAYS

12:30hrs 18:00hrs

to Lagos)

UNITED AIRLINES

17:00hrs 4:40hrs

KQ 533 KQ 534

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

DELTA AIRLINES

11:00hrs 22:40hrs

Lagos-Nairobi Nairobi-Lagos

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

QATAR AIRWAYS

VS 652 VS 651

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

BA075 BA074 BA 082 BA 083

EMIRATES AIRLINES

Lagos-London London-Lagos

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

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

Lebanon-Lagos Lagos-Lebanon

VIRGIN ATLANTIC

RwandAir

Kigali-Lagos

Turkish Airlines

Lagos-Istanbul Nairobi-Lagos

332 333

Air Côte d'Ivoire Lagos to Abidjan Abidjan to Lagos

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

ASKY AIRLINES

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

10:10hrs

10:50hrs

19:20hrs

21.50hrs

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

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

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

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

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

Local FLIGHT SCHEDULE ARIK AIR

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

AZMAN FLIGHT SCHEDULE

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

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

FIRST NATION AIRWAYS

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

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

AEROCONTRACTORS

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

MEDVIEW AIRLINES

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

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

News

NEW TELEGRAPH WEDNESDAY, May 20, 2015

Zamfara gov emerges new NGF chair

lStates want Okonjo-Iweala to account for $20bn excess crude fund

Abdulwahab Isa and Onyekachi Eze ABUJA

overnors have finally closed ranks to end the two-year-old crisis that led to the breakup of their umbrella body, the Nigerian Governors' Forum (NGF). In line with the new dispensation, the governors, rising from a meeting which began in Abuja on Monday and ended in the wee hours of yesterday, unanimously elected Zamfara State Governor, Alhaji Abdulaziz Yari, to chair the NGF. He will serve as head of the body for one year. Before his emergence, Yari was deputy chairman of the faction of the NGF led by Rivers State Governor, Mr. Chibuike Amaechi. The other faction, comprising 16 governors, was led by Amaechi's counterpart in Plateau State, Chief Jonah Jang. Members of both fac-

tions attended the reconciliatory meeting. In a communiqué read by Amaechi, the governors said they had decided to form "a single umbrella association of the 36 state governors of Nigeria.” The governors also called on the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, to account for the money that accrued to the Excess Crude Account (ECA) since 2013. “There is the need for the Minister of Finance and Coordinating Minister for the Economy Dr. Ngozi Okonjo-Iweala, to provide explanation for accruals to this account from June 2013 to April 2015, which is estimated at over N20billion,” the communiqué added. It added that induction programme for new and returning governors would be held in June to equip them with knowledge of global best practices of establishing and running their offices.

The governors also resolved to set up an academy to be called “The NGF Leadership Academy,” which will be responsible for capacity building of governors and other officials holding public office. The academy will be

overseen by the NGF secretariat. However, reacting to the governors' demand that she should render account on the management of ECA, Okonjo-Iweala asked the governors to direct their request to their

commissioners of finance who are members of the Federal Account Allocation Committee( FAAC). The minister, in a statement by her media aide, Mr. Paul Nwabiuku, said: "There is no basis for the demand and the stated

amount. The statement by the governors is totally strange because FAAC meets every month and the ECA is discussed at every session with all the state commissioners of finance present. Nothing is hidden."

Jonathan urges ECOWAS leaders to support Buhari Anule Emmanuel Abuja

resident Goodluck Jonathan has urged leaders of the Economic Community of West African States (ECOWAS) to give maximum support to his successor, General Muhammadu Buhari, as he takes over power on May 29. The president made the call yesterday at the 47th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Accra, Ghana. While bidding the leaders farewell in his

valedictory address, Jonathan said with the level of growth in democratic practice in Nigeria and the African region, it was important for the leaders to push for further entrenchment of its roots. His words: "Your Excellencies, as you are no doubt aware, this is the last Summit that I will be attending as the President of the Federal Republic of Nigeria. In 10 days’ time, precisely on the 29th of this month, my successor, President-elect, General Muhammadu Buhari, will assume the mantle of leadership of my country. "I urge you all to extend the same friendship and

fraternal cooperation that I have received from you to my successor." Jonathan also challenged the leaders to move swiftly and end the dangerous migration of youths in the sub-region through the Sahara Desert and the Mediterranean Sea to Europe. He also called on the African Union (AU) to address the issue in its forthcoming summit which come up in June this year. At the event, Heads of Government and Presidents of ECOWAS commended Jonathan for successfully conducting the last general elections and promptly conceding defeat

L-R: Togolese President, Faure Gnassingbe; President Goodluck Jonathan and Ghana President/Chairman, ECOWAS, President John Mahama, at the 47th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Accra, Ghana …yesterday

to Buhari of the All Progressives Congress (APC). Speakers at the opening session of the meeting took time to praise Jonathan for not only working hard to promote peace and democracy in Guinea Bissau, Mali, Cote d' Ivoire and other sister nations but also for guiding Nigeria through a tensed electioneering period. The host, President John Dramani Mahanma of Ghana, expressed the satisfaction of the international community about the peaceful outcome of the general elections in Nigeria and Togo. He said: "Ladies and gentlemen, at our summit, I informed you that five member states of our sub-region would hold elections this year. We are extremely proud of the elections held so far in two of our member states. "I salute the people of Nigeria and Togo for the peaceful elections held in those countries. This sends a strong message to the world that our protocol on democracy and good governance is effective and has strengthened the rule of law in our sub-region. "Let me on your behalf take this opportunity to highly commend our brother, President Goodluck Jonathan for his personal show of mature statesmanship in the event that followed the presidential election held in Nigeria. "Let me also on this occasion salute General Muhammadu Buhari for his victory in the presidential election," he said.

Senate suspends plenary, holds valedictory session for Chukwumerije, Zannah Chukwu David Abuja

he Senate yesterday suspended plenary session to pay homage to its deceased member, Senator Ahmad Zannah (APC, Borno Central), who died on May 16. Zannah died at the National Hospital in Abuja after a battle with cancer. The Upper Chamber will also hold valedictory session today in honour

of Senators Zannah and Uche Chukwumerije (PDP, Abia North), who earlier died on April 19, at the Turkish Hospital, Abuja. The notice of the valedictory session was given on the floor of the Chamber by the President of the Senate, David Mark. The valedictory session was initially planned for Chukwumerije before the demise of Zannah a few days ago, leading to the adjustment in the

programme, so that the Chamber could carry out the session for the deceased legislators simultaneously. While Zannah was immediately buried in Bama, Borno State, according to Islamic tradition, Chukwumerije will be buried on Friday May 22 in Ngodo Isuochi, Abia State. The Senate had in its usual tradition, held a minute silence in honour of Senator Zannah, after

which it adjourned till today. In his remarks before the adjournment, Mark said: "In keeping with the tradition of the Senate, we will not sit today (yesterday). There will be joint valedictory sessions for both Chukwumerije and Zannah tomorrow (today) where senators are expected to dress in black or in white with black stripes." Leading other senators to sign the condolence register for Zannah after the

adjournment, the President of the Senate noted that the deceased worked hard to ensure that his constituents enjoyed the benefits of democracy. Also lamenting the death of Zannah and Chukwumerije, the Senate Leader, Victor NdomaEgba, said: "We are being confronted with the double tragedy of the loss of Chukwumerije and Zannah almost at the same time. "It is a circle that is

troubling and we pray that this trend will not continue. For Senator Zannah, I always say he is the fourth senator from Cross River State because he was close to us in the state. We will miss him dearly." Similarly, Senators Kabiru Gaya (APC, Kano South) and Burkar Abba Ibrahim (APC, Yobe) described Zannah as a perfect gentleman who sacrificed his life for the service of humanity.

News

WEDNESDAY, May 20, 2015 NEW TELEGRAPH

FG orders Bayelsa CJ to swear in Wike T he Federal Government yesterday directed the Bayelsa State Chief Justice, JusticeKate Abiri, to administer the oath of office on Rivers State Governor-elect, Mr. Nyesom Wike, on May 29. The Attorney General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke (SAN), said in a statement that the decision was taken to avert ‘likely’ constitutional crisis since there is no Chief Judge or Grand

Khadi in Rivers state to swear in Wike. The Rivers State judiciary has been embroiled in a prolonged crisis following the disagreement between the Governor, Mr. Chibuike Amaechi, and the National Judicial Council (NJC) on who should be the chief judge of the state. The NJC preferred Justice Daisy Okocha as the chief judge, a move that the state government kicked against. It rejected the appoint-

APC drops zoning of offices CONTINUED FROM PAGE 2

we have not sat to zone it to anywhere. We are trying to manage those who are vying for it so that the best man will get there. Compromises would have to be made and sacrifices would be welcome. “We don’t want the kind of thing that brought PDP down to be our starting point. We want to be very careful. Zoning will not give you the best,” Akande stated. He said the APC would prevent the PDP from grabbing the leadership of the National Assembly. The former national

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chairman of the party stated that the party leaders would soon meet to put the issue of Senate presidency behind it before May 29. Buhari had told the party leaders to leave the issue till after May 29. He did not rule out the possibility of conducting primaries for the senators who have indicated interest in the Senate presidency. Akande also dismissed insinuations of possible rift between associates of Buhari and National Leader of the APC, Senator Bola Tinubu. “Honestly, the relationship between Buhari and Tinubu is cordial. They have the best of relationship. I don’t know about Buhari’s associates; I don’t know if it exists but I know Tinubu and Buhari. I know the two of them are in the best of relations today; that much I know,” he said.

ment of Justice Peter Nwoke Agumagu and went ahead to name Justice Okocha as her Administrative Judge of Rivers State pending the resolution of all the legal issues surrounding the appointment of a substantive chief judge. Until yesterday, there were fears that the impasse in appointing a chief judge for Rivers State could lead to a constitutional crisis as there would be nobody to swear in Wike. But Adoke, in the statement, defended the Federal Government's action, saying it is in accordance with the provision of Section 185(2) of Nigeria’s

constitution. He said: “It will be recalled that Nyesom Ezenwo Wike was declared the Governor-elect of Rivers State following the gubernatorial and Houses of Assembly elections conducted by the Independent National Electoral Commission (INEC) on April 11, 2015. It is, therefore, expected that he will be sworn into office on May 29, 2015 in accordance with the provisions of section 185(1) of the Constitution of the Federal Republic of Nigeria, 1999. “It is, however, pertinent to draw public attention to the existing vacuum in the office of the Chief

Judge of Rivers State, as well as the office of the President of the Customary Court of Appeal, Rivers State which has made strict compliance with the requirements of section 185(1) and (2) of the Constitution of the Federal Republic of Nigeria, 1999, virtually impossible. “In order to avert a likely constitutional crisis in Rivers State on May 29, 2015 when the Governorelect is expected to be sworn as governor of Rivers State, I have requested the Chief Judge of Bayelsa State to administer the oath of allegiance and oath of office on the Governor-elect of Rivers State

in accordance with section 185(2) of the Constitution of the Federal Republic of Nigeria, 1999, which provides as follows: “The oath of allegiance and the oath of office shall be administered by the Chief Judge of the state or Grand Khadi of the Sharia Court of Appeal of the State, if any, or President of the Customary Court of Appeal of the state, if any, or the person for the time being respectively appointed to exercise the functions of any of those offices in any state.” The minister urged the public to support the decision in the interest of peace in Rivers State.

L-R: Outgoing Chief Executive Officer, Royal Friesland Campina Wamco Nigeria Plc, Mr. Cees't Hart; Chairman, Mr. Jacobs Moyo Ajekigbe and Managing Director, Mr. Rahul Colaco, during the company's 42nd Annual General Meeting in Lagos …yesterday. PHOTO: SULEIMAN HUSAINI

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Central Bank of Nigeria frees money for growth

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rate was kept unchanged at a record high of 13 per cent. The committee retained the liquidity ratio at 30 per cent. Previously, the rate for private sector funds was 20 per cent and 75 per cent for public funds. By harmonising the rates, the banking watchdog has automatically increased the amount of money in supply since public sector funds, including that of the Nigerian National Petroleum Corporation (NNPC) account for 35 per cent of the total deposits in the country put at N15 trillion. With its decision, the Central Bank has decided to focus on the growth of the economy rather than fighting inflation as by increasing the money supply, interest rates will come down; people will be able to borrow more from banks and this will stimu-

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CONTINUED FROM PAGE 1

late economic growth. Emefiele said the decision to harmonise the rate was in the best interest of the economy. The governor expressed confidence in the rebound of the economy with the successful conclusion of general elections and the success being recorded in containment of Boko Haram. He was optimistic that the macro-economic environment would be favourable, as the capital reversal is checked and the pressure in the foreign exchange and financial markets stabilises in the short to medium-term. On external sector, the governor stated that the gross official reserves rose from $29.35 billion as at March 2015 ending to $30.05billion as at May 15. The reserves have declined by 20 per cent in the last 12 months. Emefiele said: “The committee stressed the

need for proactive measures to protect the reserves buffer, to safeguard the value of the domestic currency and engender the overall stability of the banking system. “The bank is gradually approaching the limit of tightening and will, therefore, require complementary fiscal and structural policies.” The naira has lost more than 13 per cent of its value against the dollar in the past six months and was trading 0.2 per cent stronger at N199 a dollar as at yesterday. The governor said it was not possible for the regulator to intervene on a daily basis to supply banks with foreign exchange and support the naira currency, stressing that he does not intend to impose capital controls. Commenting on these developments, Managing Director and Chief Executive Officer of Finan-

cial Derivatives Company Ltd, (FDC) Mr. Bismarck Rewane, said the banking watchdog had decided to pursue growth, which it believes is more urgent than controlling inflation. He, however, said it was only about six banks that had huge public sector funds that would benefit from the rate unification. Similar view was expressed by Head of Africa Economic Research at Standard Chartered Plc, Razia Khan. Khan said: "While we see this measure as resulting in an eventual tightening, the immediate impact on market liquidity will depend on the ratio of private sector to public sector deposits in the Nigerian banking system. “If we assume that ratio is 80:20, the CRR harmonisation has a neutral impact on liquidity in the banking system. If the ratio is closer to 70:30, the CRR harmonisation

should see some injection of liquidity back into the banking system. “Our calculations, based on data available from February, suggests a rough 73:27 ratio of private sector deposits to public sector deposits. If this still holds true, (and a lot has changed since February) we expect to see the injection of some liquidity back into the banking system. “It was only banks that are more reliant on public sector deposits that will be the key beneficiaries of the additional injection of liquidity.” In his reaction, Head of Research at Afrinvest West Africa Ltd, Ayodeji Ebo, said: “With less than two weeks to hand over to the new government, the Central Bank will want to know the policy direction of the administration and decide which monetary policy will be appropriate.”

NEW TELEGRAPH WEDNESDAY, May 20, 2015

Central Bank of Nigeria www.cbn.gov.ng In furtherance of the transparency and full disclosure stance of the Central bank of Nigeria, the Monetary Policy Committee has decided that henceforth the lending rates obtainable in all Deposit Money Banks (DMBs) be made public to guide business decisions. Consequently, find below the applicable rates for each of the DMBs as at May 15, 2015. The rates will also be available on the website of the Central Bank of Nigeria. Average Deposit and Lending Rates as at May 15, 2015 Deposit S/N

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

NAME OF BANK

Access Bank Citi Bank Nigeria Diamond Bank Ecobank Nigeria Enterprise Bank Ltd FCMB Fidelity Bank First Bank of Nigeria Heritage Bank Guaranty Trust Bank Keystone Bank Ltd MainStreet Bank Ltd Skye Bank Stanbic IBTC Bank Standard Chartered Bank Sterling Bank Union Bank United Bank for Africa Unity Bank Wema Bank Zenith Bank

Demand Savings Deposit Deposit Ave.Int Rate 0.08 2.88 1.08 0.01 0.20 0.90 2.00 0.50 0.64 0.10 1.25 0.50 0.14 0.75 1.78 0.50

Ave.Int Rate 3.39 3.90 3.90 3.90 3.60 3.60 3.90 3.60 3.99 3.60 3.21 3.90 3.60 3.95 3.90 3.90 3.90 3.72 3.60 3.91 3.60

Lending Rate Time Deposit Ave.Int Rate 12.74 8.38 10.28 9.97 7.13 13.00 10.50 11.35 11.48 6.13 8.44 10.73 10.48 10.24 9.50 8.11 8.33 10.50 3.5-11.00 10.90 9.00

Agriculture Prime

Max.

5.00 17.00 14.00 20.00 25.00 17.50 6.00 9.00 24.00 17.00 n/a 18.00 14.00 5.50 13.00 7.00 26.50 7.00 24.00 27.00 18.00

25.00 21.00 22.00 27.00 29.00 26.50 28.00 24.00 28.00 24.00 n/a 28.00 14.00 28.00 16.00 26.00 26.50 24.00 30.00 26.00 19.00

Mining & Quarrying Prime 17.00 17.00 18.00 25.00 17.50 19.00 20.00 24.00 15.00 19.00 18.00 28.00 16.00 14.90 21.00 26.50 20.00 24.00 27.00 18.00

Max.

Prime

Max.

21.00 25.00 25.00 29.00 27.00 28.00 27.00 28.00 27.00 30.00 28.00 31.00 27.00 16.00 28.00 28.50 24.00 30.00 25.00 23.00

13.00 17.00 17.00 15.00 25.00 17.50 19.00 20.00 24.00 13.50 19.00 18.00 28.00 16.00 14.90 21.00 26.50 16.50 24.00 27.00 18.00

25.00 21.00 25.00 29.00 29.00 29.00 28.00 27.00 28.00 27.00 30.00 28.00 31.00 27.00 16.00 28.00 28.50 24.00 30.00 24.00 24.00

Deposit S/N

l 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

NAME OF BANK

Demand Savings Deposit Deposit Ave.Int Rate 0.08 2.88 1.08 0.01 0.20 0.90 2.00 0.50 0.64 0.10 1.25 0.50 0.14 0.75 1.78 0.50

Ave.Int Rate 3.39 3.90 3.90 3.90 3.60 3.60 3.90 3.60 3.99 3.60 3.21 3.90 3.60 3.95 3.90 3.90 3.90 3.72 3.60 3.91 3.60

Oil & Gas

Manufacturing Prime 5.00 17.00 17.00 17.50 25.00 17.50 19.00 20.00 24.00 14.00 19.00 18.00 28.00 12.50 13.50 21.00 26.50 16.50 24.00 27.00 18.00

Max. 25.00 21.00 25.00 25.00 29.00 25.50 28.00 27.00 28.00 27.00 30.00 28.00 31.00 27.00 20.00 28.00 28.50 24.00 30.00 24.00 24.50

Real Estate & Const Prime 7.00 17.00 17.00 17.50 25.00 17.50 19.00 20.00 24.00 13.00 19.00 18.00 28.00 16.00 13.00 21.00 26.50 20.00 24.00 27.00 18.00

Max. 25.00 21.00 25.00 28.00 29.00 28.50 28.00 22.00 28.00 27.00 30.00 28.00 31.00 26.00 16.00 28.00 28.50 24.00 30.00 26.00 24.00

Lending Rate Time Deposit Ave.Int Rate 12.74 8.38 10.28 9.97 7.13 13.00 10.50 11.35 11.48 6.13 8.44 10.73 10.48 10.24 9.50 8.11 8.33 10.50 3.5-11.00 10.90 9.00

General Comm. Prime 12.00 17.00 17.00 14.50 25.00 17.50 19.00 20.00 24.00 12.00 21.00 18.00 28.00 13.75 13.00 21.00 26.50 20.00 24.00 27.00 18.00

Max. 29.00 21.00 26.00 33.00 29.00 30.00 28.00 27.00 28.00 27.00 30.00 28.00 31.00 28.00 16.50 28.00 29.00 24.00 30.00 27.00 27.00

Mortgage

Transp. & Comm.

Fin. & Ins.

Govt.

Prime

Max.

Prime

Max.

Prime

Max.

Prime

14.00 17.00 11.00 25.00 17.50 19.00 20.00 24.00 15.00 19.00 18.00 28.00 16.00 18.00 21.00 26.50 24.00 24.00 27.00 18.00

28.00 25.00 28.00 29.00 19.95 28.00 22.00 28.00 27.00 30.00 28.00 31.00 26.00 18.00 30.00 28.50 26.00 30.00 26.00 23.00

7.00 17.00 17.00 15.50 25.00 17.50 19.00 20.00 24.00 14.50 19.00 18.00 28.00 16.00 14.00 21.00 26.50 20.00 24.00 27.00 18.00

28.00 21.00 25.00 28.00 29.00 25.00 28.00 27.00 28.00 27.00 30.00 28.00 31.00 27.00 19.00 30.00 28.50 24.00 30.00 24.00 25.00

15.00 17.00 17.00 18.00 25.00 17.50 19.00 20.00 24.00 20.00 21.00 18.00 28.00 13.75 18.00 21.00 26.50 16.50 24.00 27.00 18.00

25.00 21.00 25.00 30.00 29.00 27.50 28.00 27.00 28.00 27.00 30.00 28.00 31.00 27.00 18.00 28.00 28.50 24.00 30.00 24.00 24.00

13.50 17.00 16.00 25.00 17.50 19.00 19.00 24.00 17.00 21.00 18.00 28.00 14.00 16.00 21.00 26.50 20.00 24.00 27.00 18.00

Max. 18.00 23.00 31.00 29.00 26.00 28.00 27.00 28.00 23.00 30.00 28.00 31.00 24.00 16.00 28.00 26.50 24.00 30.00 25.00 24.00

These are the interest rates banks charge the public on loans and advances. It reflects the cost of borrowings and also includes all charges and commissions levied by banks. Signed:

Management

News

LP charges Buhari on workers’ welfare Johnchuks Onuanyim

Abuja

ational Leadership of the Labour Party, yesterday charged the President-Elect, Gen. Mohammadu Buhari, to factor workers’ welfare into his incoming administration. The party also stated that it is callous for people propagating change to owe workers for the period of five months and above. The party's positions were contained in a statement issued on Tuesday by the National Secretary of the party, Mr. Kayode Ajulo. He said: "A situation in which some state governments are owing workers up to seven months salaries is not only unacceptable but uncharitable and shameful. It is most despicable that instead of addressing the issue of welfare, an atmosphere of criminal silence pervades the political arena, while much ding resounds over ministerial lists and petty inner party squabbles. "It is our belief in the Labour Party that the Goodluck Jonathan administration, although left with only very few days in office, still owes Nigerians explanations. Is the government owing states allocations? Has there been a change in the percentages allocated to the states? Or has the Federal Government short-changed the states in anyway, leading to their dwindling fortunes?"

CSOs warn APC against interfering with N'Assembly Tunde Oyesina Abuja

ivil Society Organizations, CSOs, yesterday called on the All Progressives Congress, APC, not to interfere in the election of principal officers of the National Assembly. Speaking in Abuja at a meeting of the National Assembly Petition Committees, the Executive Director of Policy and Legal Advocacy Centre PLAC and convener of the Civil Society Situation Room, Clement Nwankwo, said that Nigerians need leaders with a high level of integrity. Nwankwo commended the President-elect, General Muhammadu Buhari for taking the decision not to interfere in the choosing of principal officers of the house.

national

wednesday, may 20, 2015 NEW TELEGRAPH

FG begins trial of Nyanya bomb blast suspects Tunde Oyesina Abuja

fter several adjour nments, the Federal G ove r n m e n t yesterday began the trial of the master mind of the Nyanya bomb blast, Aminu Sadiq Ogwuche

and five others before a Federal High Court sitting in Abuja. Others are Ahmed Abubakar, Mohammed Ishaq, Ya’u Saidu (alias Kofar Rama); Anas Isa, Adamu Yusuf and Nasir Abubakar. The accused persons are facing terrorism charges over alleged

bombing of Nyanya motor park, in the Federal Capital Territory, Abuja. The trial was initially scheduled to commence last week, but could not go ahead because of the absence of the Prosecution Witness. At the resumed trial yesterday, Prosecution Counsel, Mohammed

Diri, told the court that he has 37 exhibits and six witnesses to tender before the court He also told the court that an eight-count charge has been framed against the suspects contrary to Sections 1(2a), 5, 8, 16, and 17 of the Terrorism Prevention (amendment) Act, 2013.

L-R: Minister of Information, Senator Patricia Akwashiki; Registrar, Advertising Practitioners Council of Nigeria (APCON), Alhaji Bello Kankarofi and Head of Finance and Human Resources, Mrs. Abimbola Ipaye, during the Minister’s visit to APCON in Lagos…yesterday

The first witness, tagged Prosecution Witness 1, an investigator with the DSS, told the court that he knew the accused persons upon investigation to unravel the perpetrators of the dastardly act. "I came to know the accused persons during the cause of my investigation having been arrested. Ahmad Abubakar was first to be arrested on April 22, 2014 in Sanga, Kaduna State; Mohammed Sani Ishaq was arrested in Jabi, FCT on April 24, 2014; Yau was arrested on April 29 in Kano State; Mohammed Annas was arrested in Katsina State on May 3rd, 2014. The next to be arrested was Adamu Haruna Yusuf, on May 5 in Bauchi State while Aminu Ogwuche was arrested in Sudan and extradited to Nigeria on July 15, 2014" DSS witness told the court. He said he knew Ogwuche way back in 2011 when he was deported to Nigeria from the United Kingdom for belonging to a banned terrorist organization. Based on the shred of evidence, Ogwuche's counsel, Ahmed Raji, SAN interjected, arguing that "the suspect is not standing trial on whether or not he is a member of a terrorist group banned in the UK.”

Boko Haram kills 19 in Adamawa

APC urges EFCC to probe Yero over SURE-P

Ibrahim Abdul’Aziz

Yola

o fewer than 10 people were feared killed in a renewed attack by Boko Haram on Ajiya Wagga village in Madagali Local Government area of Adamawa State yesterday. The insurgents had attacked Sabongari town leading to the death of one person while six women were abducted. This was even as a suspected suicide bomber blew himself up yesterday killing at least nine people in the process. A fleeing resident of Ajiya Wagga, Mr. Timothy Wagra, said the insurgents struck in the middle of the night, shooting sporadically and in the process killing many people. Wagra said: “Several people were killed and many injured. Many are still in the bush as they fear that the insurgents may attack again, a situation that is making many to flee to neighbouring villages.” Reports yesterday said many of the villagers sus-

tained injuries and are being evacuated to hospitals for medical attention. The Council Chairman, Maina Ularamu, also confirmed that at least 10 people were killed during the attack. He said: “The insurgents arrived in the village around midnight and shot several people.” However, when contacted, spokesman of the Adamawa State police command, Othman Mohammed, said the police were yet receive an official report of the incident. Meanwhile, at least 14 other people were yesterday rushed to the hospital at a local livestock market in Garkida, Gombi, in the northern part of Adamawa State, after the suicide bomber blew himself up, local officials said. Local traders said the explosion went off around 2.15pm local time, near a local livestock market, when merchants were busy. “It was around 2.15pm after the Zuhr prayer while people are busy selling and buying, we just heard an explosion in between the sheep and the goats stall."

Ibraheem Musa Kaduna

he All Progressives Congress (APC) Transition Committee of Kaduna State has petitioned the Economic and Financial Crime Commission (EFCC) over the state government's request to spend N2.744billion Subsidy Re-investment Programme (SURE-P) funds, barely a week before leaving office. The State Governor, Alhaji Mukhtar Ramalan Yero, had written to the state assembly, seeking

its approval to use 50 per cent of the SURE-P fund to enable him complete ongoing road projects in the state. It will be recalled that the APC caucus, which comprised 14 members of the state House of Assembly recently raised an alarm over the development. The petition, which was signed by the Transition Committee Chairman, Malam Balarabe Abbas Lawal, asked EFFC to intervene immediately in order to stop Yero from spending the alleged sum. The letter reads in part,

"I write to bring to your attention the elaborate steps being taken by the outgoing Kaduna State Government to legitimise the misappropriation of N2.744 billion Local Government Sure-P funds, and to request that you exercise your responsibility of deterring crime by preventing this last-minute looting of public assets. "The Kaduna State House of Assembly declined to appropriate the Sure-P funds in the 2015 budget, and promptly removed them from the budgets submitted by the 23 local government councils."

‘Why Nigeria's modular refineries are unattractive’ Adeola Yusuf

he investments draught rocking modular refinery sub-sector in Nigeria will linger until funding and other impediment to investments are addressed, investors in Nigeria's oil and gas industry has said. The federal government's licences grants to private investors to build 18 refineries failed 12 years after the official issuance of the licences. President Goodluck Jonathan had in December 2012 approved the establishment

of a modular refinery initiative to ease local supply of petroleum products, especially household kerosene (HHK), which does not require sophisticated technology to produce. Nigeria’s four refineries, with combined capacity of 445,000 barrels per day, have long been operating well below optimum capacity as they are in different states of disrepair. Speaking at a forum organised by the Department of Petroleum Resources (DPR) in Lagos, the investors said the DPR

could not assure them that they would not be starved of crude oil supply after investing in the multi-million dollars projects. Managing Director of Termark International Nigeria, Mr. Ishola Aregbesola decried the high licence fee and policy of DPR on modular refinery, which he said, is not helping investors. The investor also complained that Marginal field operators and IOCs will not bring their crude oil to them but instead take it abroad for refining.

NEW TELEGRAPH WEDNESDAY,MAY 20, 2015

National Assembly may back fuel subsidy removal Onwuka Nzeshi

ABUJA

here are strong indications that the National Assembly may endorse total removal of fuel subsidy and full deregulation of the downstream sector of the petroleum industry in the next dispensation. The Legislative Budget and Planning Department ( LBPD) of the National Assembly has recommended that given the dwindling price of crude oil and refined petroleum products at the international market, Nigeria should seize the opportunity to do away with the subsidy scheme and divert the funds to other areas of priority in the economy. In its analysis of the

Federal Government Budgetary Proposals for the 2015 fiscal year, the LBPD observed that though this year’s Appropriation Bill made provisions for subsidy and the Subsidy Reinvestment Programme (SURE-P ) the current price regime had made fuel subsidy unnecessary. According to the 148page report obtained exclusively by New Telegraph, at the current downturn in the price of crude oil, it no longer made sense to continue to devote a huge chunk of the national budget to fund the importation of refined products into the country. “The Nigerian economy is facing challenges ( a decline in crude oil prices) which seem to occur every decade. As the

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NATIONAL

country is an oil exporter, the decline in crude oil prices is a downside to the economy in both the short and medium terms. Why should we be having subsidy given the current price of oil? This is probably an excellent time for the government to deregulate the downstream sector of the oil industry,” said the report. Since the two chambers of the National Assembly passed the budget, a lot of controversies have trailed the issue of subsidy scheme. Some lawmakers have raised the alarm that there was no provision for subsidy in this year’s budget while others have insisted that provisions have been made for the scheme. There were also allegations that the Federal Government and the

leadership of the National Assembly had reached an agreement not to include subsidy in the budget to pave way for its eventual removal when the new government takes over. Chairman, House Committee on Appropriation, Hon. John Enoh, however, clarified some of these issues yesterday as he disclosed that there was indeed provision for subsidy in the 2015 budget. “There is subsidy in 2015 budget. There is subsidy for both petrol and kerosine. It is not every matter that is politics; people want to politicize everything. It is just unfortunate that some of our colleagues have failed to open up on that issue. Subsidy has always been there and it is there in the 2015 budget.”

FCTA commences online tracking of buildings in Abuja Yekeen Nurudeen ABUJA

he Federal Capital Territory Administration (FCTA), through the Department of Development Control, has commenced the process of tracking online all on-going building developments in the nation’s capital. The scheme, which is known as Development Control Information System (DevCIS) and Mobile App for an on-line transfer of Site Assessment Reports (SAR) is to ensure total computerization of all the Development Control activities. FCT Minister, Senator Bala Mohammed, while launching the scheme in Abuja yesterday, directed that all land related departments in the FCT must work together to further reduce business time of developers. He reiterated that closer collaboration between the Departments of Development Control, Urban & Regional Planning, Land Administration, Survey & Mapping, as well as the Abuja Geographic Information Systems (AGIS), would go a long way in fast tracking development of the entire 8,000 square kilometers of Abuja. The Minister maintained that the collaboration became necessary to reduce friction and man

hour wasted on ironing out issues related to land application, building approval and development in the FCT; emphasizing that it is a competitive world with diverse interests. His words: “I want you to take further steps to reduce drastically the time taken for approval of building plans and enhance monitoring of development towards bequeathing a safe, healthy and convenient city-system to the residents of the FCT and visitors alike. You are equally to ensure speedy and orderly city growth into the future.” The Minister noted that the establishment of a wholly indigenous Development Control Information System, as well as Mobile App for an on-line transfer of Site Assessment Reports, which according to him, are base-line requirements for taking decisions on the approvability or otherwise of building plans for all categories of development. While commending the ingenuity of the staff of FCT Development Control, Senator Mohammed urged all technical and professional staff involved in this knowledge-driven and experience-sharing process to embrace the innovation with the highest sense of responsibility for an improved service delivery.

40 Nigerians selected for Mandela Washington Fellowship Wale Elegbede L-R: Vice-President, Outdoor Advertising Association of Nigeria (OAAN), Alhaji Danladi Yaro; President, Mr. Charles Chijide and immediate past President/Chairman, 2015 Poster Awards Committee, Mr. Kole Ademulegun, during a press conference on the 2015 Poster Awards in Lagos...

Court restrains Jonathan from signing Free Zone Act Akeem Nafiu

ustice Saliu Saidu of a Federal High Court in Lagos, yesterday, halted the signing of a bill for an Act to amend the Oil and Gas Export Free Zone Authority Act Cap 05 by President Goodluck Jonathan. The judge, while ruling on an ex-parte application in a suit marked; FHC/L/ CS/719/15, filed by Professor Olanrewaju Fagboun, on behalf of Nigerdock Nigeria Limited, Simco Free Zone Company and Nigerdock Nigeria Plc.-FZE, also restrained both the National Assembly and the Clerk of the National Assembly from forwarding the bill to President Jonathan for assent. Also affected by the order are; the Attorney-General of the Federation, Minister of Industry, Trade and Investment, the Minister of

Transport, and the Nigeria Ports Authority. The court also restrained the defendants, their agents and privies from prohibiting the usage of the plaintiffs’ facilities at Snake Island Integrated Free Zone for Oil and Gas cargoes destined for use in the free zone. In an affidavit sworn

to by one Yusufu Abdullahi, a Director at Simco Free Zone Company, it was averred that Nigerdock Nigeria Limited is a promoter of Snake Island Integrated Free Zone, SIIFZ, and that Simco is a company saddled with the responsibility to develop, market, manage, operate and administer

SIIFZ. The deponent further averred that SIIFZ was approved as a privately owned and managed Free Zone by Presidential declaration in January 2005, and was duly licensed by the Nigeria Export Processing Zones Authority, NEPZA, in April 2005.

Lagos has highest number of SMEs –NBS survey AbdulwahabIsa

agos state has the highest number of small and medium enterprises, and micro enterprises in the country, the National Bureau of Statistics (NBS) has confirmed in a data survey on SMEs. Lagos has over 11million Micro, Small and Medium Enterprises (MSMEs) and Kwara State with least number of 226 SMEs, according to state by state ranking on

SMEs. Lagos also has the highest number of micro enterprises, 3,224,324, followed by Oyo state 1,864,954, then Kano state 1,794,358, the FCT 482,365, and Nasarawa state has the least number, with 382,086 micro enterprises. According to NBS, the total number of MSMEs as at 2013 stood at 37,067,416 (Micro-36,994,578, Small- 68,168, and Medium-4,670). The NBS put the initial

start-up capital of 68.35% of micro enterprises at predominantly less than N50,000 while small and medium enterprises were predominantly less than N10 million The survey listed challenges confronting the operations of MSMEs in Nigeria to include, access to finance and poor infrastructure, inconsistency in government policies, poor support (business development services), access to market, multiple taxation and obsolete technology.

orty young Nigerians were yesterday recognised by the United States Embassy and Consulate General to participate in the 2015 Mandela Washington Fellowship. The Mandela Washington Fellowship is the flagship programme of the President’s Young African Leaders Initiative (YALI) and a key component of President Barack Obama’s commitment to invest in the future of Africa. The White House developed this initiative in recognition of the critical and increasing role that young Africans are playing in strengthening democratic institutions, spurring economic growth and enhancing peace and security in Africa. Speaking at a special gathering in Abuja and via satellite in Lagos, U.S. Ambassador, James F. Entwistle, congratulated the new fellows on their competitive selection amongst 7,000 Nige-

rian applicants and tens of thousands of others throughout Africa. “You all should be proud of your accomplishment. Your selection says a lot about who you are as young leaders and the level of impact you are having on your communities as entrepreneurs, civic leaders, and public servants,” said Ambassador Entwistle. He added, “You will have the opportunity to meet hundreds of bright and inspiring minds, just like yourselves, from other parts of Africa. Take advantage of the opportunity to learn, to share, and to expand your network.” In 2014, 44 Nigerian fellows comprised part of the inaugural class of Mandela Washington Fellows. Fellows participate in an intensive, six-week program on academic excellence and leadership focused on business and entrepreneurship, civic leadership, and public management at U.S. colleges and universities.

WEDNESDAY,MAY 20, 2015 NEW TELEGRAPH

Metro BRUTALITY

An employee of FAAN is dangling between life and death after his encounter with vicious Air Force personnel

Battered FAAN employee fights for life

Muritala Ayinla

man brutalised by the Nigerian Air Force (NAF) men stationed at Murtala Muhammed International Airport (MMIA), Ikeja, Lagos, is still battling to stay alive at the hospital. The victim, Mr Mohammed Shuaibu, yesterday appealed to well-meaning Nigerians to assist him to get justice and save his life. Shuaibu, who is a Public Affairs Officer with the Federal Airports Authority of Nigeria (FAAN), is currently suffering from internal bleeding. A middle-aged man, who simply identified himself as Shuaibu’s relative, decried the attitude of FAAN management to the welfare of its staff. The man said the management was making frantic efforts to sweep the matter under the carpet. He called on the Lagos State Government, human rights activists and all lovers of justice to come to Shuaibu’s aid. According to him, his condition is getting worse daily following the inhuman treatment meted out to him by the Air Force personnel. Shuaibu was rescued from the Air Force men and rushed to the Aviation Clinic at FAAN headquarters, before he was referred to the Air Force General Hospital on Monday morning. “Shuaibu was only saying I don’t want to die,” the man added.

Juliana Francis

35-year-old mother of two has started telling operatives of the Special AntiRobbery Squad (SARS), Ikeja, Lagos State, all she knows about the attack on a team of 11 policemen by vandals at Obadore area

ABIODUN BELLO FEATURES Editor

abiodun.bello@newtelegraphonline.com

Shuaibu

When contacted on the telephone, a senior official in the Protocol and Passages, a unit under the Public Affairs where Shuaibu works,

identified as Mrs Tessy, refused to disclose what FAAN management was doing about the case. Tessy said she had prepared

the report and sent to the General Manager, Corporate Communications of FAAN, Mr Yakub Datti. She said: “I don’t have any-

thing else to say unless you contact my boss, who will brief you on the incident.” But Datti could not be reached on his mobile phone number. However, Shuaibu’s relative, who refused to give his name for the fear of being molested by the Air Force officers, said the victim had been calling on Nigerians to save his life. A witness, who craved anonymity, said he was forced to intervene when Air Force men were about to kill Shuaibu. He said: I was beaten too in an effort to drag him away from the Air Force men. “Although, I did not know what really the matter was, I saw a young man in FAAN uniform being beaten. He could not even talk again.” A FAAN official, who also craved anonymity because he was not authorised to speak with journalists, said the incident happened when Shuaibu saw his friend, who arrived on Turkish Airlines on Sunday night, off to his car under the arrival bridge. According to him, when Shuaibu got to the place where his friend parked his car, he met the Air Force men removing the number plate of the car. He introduced himself as employee of FAAN. He even appealed to them that his friend had come to visit him. “Suddenly he was dragged back and forth and beaten black and blue. It was as if the military personnel were dealing with a common criminal. They were ready to kill him for begging them not to remove the number plate of his friend’s car. “Other security agents such as officials of the Nigeria Security and Civil Defence Corps (NSCDC) and police officers at the scene could not intervene.”

Vandalism: Woman held over missing policemen’s bodies of Igando. The woman, identified as Ann Timu, was the one who made the call that led vandals, armed with pump action rifles, to attack the police team. By the time the smoke cleared from the smoking guns, four policemen had been killed and their bodies dragged into the river by the vandals. Two other policemen, who were injured, are still in hospital. Since the discovery that the police team impersonated the Inspector General of Police Monitoring Unit and embarked on illegal operation at Obadore

pipeline vandalism site, the IG, Solomon Arase, has ordered SARS to take over the case, investigate the surviving policemen and fish out the vandals. The Deputy Superintendent of Police (DSP), Mr Expression Omoego, who led the team, was on Saturday transferred to the Force Headquarters, Abuja, on the orders of Arase. SARS has so far recovered 3,000 ‘nylon bags’ of 100-litre each. The operatives moved the bags in six trucks. During interrogation, Timu admitted she made the call, adding that she did not know the

vandals would shoot the policemen. A police source said: “She said the policemen were asking for N10 million bribe, so that they would not arrest her. She said the money was too much. “According to her, they are used to ‘settling’ different teams of policemen, but the team that came on Thursday was strange to her. She said the policemen would have noticed the approaching armed vandals, but they were busy, loading gallons of fuel into their vehicle. They did not see the gunmen and did not have any chance.”

IGP, Arase

Metro 11

NEW TELEGRAPH WEDNESDAY,MAY 20, 2015

Ogun CP orders ASP’s arrest for raping FCE student Juliana Francis

O Ntomchukwu

City Briefs 29 suspects arrested in Benue Cephas Iorhemen Makurdi

olice in Benue State yesterday paraded 29 suspects arrested for committing various heinous crimes. Their offences, according to the state Commissioner of Police, Hyacinth Dagala, who paraded the suspects, range from armed robbery, cultism, culpable homicide, theft, kidnapping and unlawful possession of firearms. Briefing journalists in the Conference Hall of the Police Headquarters in Makurdi, Dagala said the suspects were arrested at different points. The police chief said some of the suspects, including Tersoo Gwarche and Tersoo Isaac, were those who attacked members of the committee on the selection of first class chiefs on GbokoKatsina Ala Expressway. He said two locally-made pistols and one Toyota car with registration number AE 591 KAL were recovered from them, adding that investigation was in progress.

FCMB-financed waste recycling facility inaugurated

agos State Governor, Babatunde Fashola, has inaugurated the multibillion naira Solous 1 Material Recovery Facility (MRF) at Igando area of the Lagos metropolis. The facility was financed by First City Monument Bank (FCMB). Fashola described the facility as another bold step and landmark project in Lagos. He said: “We will continue to explore every opportunity that would create a healthier and cleaner environment.” The governor also commended FCMB for its support and contributions to the economy of the state, including those affecting the environment. He said: “FCMB has been a strong partner in progress. For instance, the bank has been supporting the annual climate change summit in Lagos. We really appreciate the support offered by the bank in actualising this material recycling project.” Responding, the Group Managing Director/Chief Executive of FCMB Limited, Mr Ladi Balogun, said the bank would continue to support projects and other initiatives that would impact on the environment, people and the Nigerian economy. According to a statement from FCMB, the bank acted as the senior lender to the project, while FCMB Capital Markets Limited (another of its subsidiaries) acted as the sole financial adviser and arranger.

gun State Commissioner of Police, Mr Valentine Ntomchukwu, has ordered the arrest of an Assistant Superintendent of Police (ASP) for allegedly raping an undergraduate of the Federal College of Education (FCE) while in his custody. The victim, simply identified as Oluwaseun, was said to have been detained and raped at Osiele Police Post, Abeokuta, where the ASP, Mr John Mafoya, is the head of the station. Mafoya was alleged to have brought the girl out from the cell and took her to his home to rape. He returned her to the cell but later brought her out to rape again in his office. The crime would have gone

unnoticed but for a police corporal who reported the case to the police authorities. Oluwaseun, stealthily used her phone to record the ASP’s sordid discussions with her. Mafoya, who was said to have indulged in raping female detainees at random, was arrested and detained after Ntomchukwu received a petition from the father of one of his victims. Oluwaseun’s incident happened just as another petitioned was received at the police headquarters that Mafoya raped another detainee, Folashade, while she was also in his custody. A police source described both victims as Primary Education Studies (PES) students of the FCE, Osiele, Abeokuta,

the Ogun State capital. The ladies accused Mafoya of raping them. The source said: “Folashade’s father sent a strongly worded petition to the Ogun State Commissioner of Police, alleging that ASP Mafoya abducted and forcibly had carnal knowledge of his daughter in the college.” “The case involving Oluwaseun unfolded after she was detained at Osiele Police Post on April 30, 2015. She was detained because she was involved in a group assault on a corps member, Mr Kareem Alaba. “Alaba was said to have made romantic advances at Oluwaseun during a visit to the corps member’s residence at Arokoje village, Abule, Obantoko in Abeokuta.” The source added that

Mafoya, for reasons yet unknown, among all those arrested, ordered Oluwaseun to be detained. Around 7pm that same day, he personally took over the case. “He later brought Oluwaseun out from the cell, drove her to his residence at Alanco in Abeokuta and forcibly had sex with her. “Mafoya brought her back to the station. When it was around 10.30pm, he brought her out again from the cell, took her into his office and raped,” the source said. The following day, Oluwaseun’s colleagues raised N3,000 to bail her. While the ASP was busy raping the lady, he did not know she recorded his conversations with her on her phone.

Mile 12 Market fire victims beg govt for assistance Camillus Nnaji

everal traders at the popular Mile 12 Market have cried out over the inability of the Lagos State Government to come to their aid three months after fire razed sections of the market. In the incident, four persons lost their lives while goods and other property worth millions of naira were destroyed. But yesterday, the traders accused the government of failing to deliver its promise of rebuilding their shops. The traders, under the aegis of Sukura Yam Sellers’ Association, told our correspondent that they had nowhere to sell since the incident. The Chairman, Board of Trustees of the market, Alhaji Isah Tijani, who spoke on behalf of the traders, regretted that the government and the

Isheri-Ikosi Local Government were yet to fulfill their promise of re-building stalls and shops destroyed by fire. He said: “Since then, government has not responded. We sent a request letter to the Lagos State Government to rebuild the market which was accepted. Officials of the Isheri-Ikosi Local Government and the Iyaloja General came here for assessment but three months after that, we are still suffering. “We, the sukura yam sellers, are begging the government to do something to alleviate our suffering in the market.” The chairman added that the association had helped some traders by allotting them open spaces to sell. He said: “Since that fire accident, those who could cope have remained in business, while those who could not left the market. But others went

File picture of the burnt market

and sold their property at home to begin afresh. “On our own, we allocated open spaces to over 100 traders who are stranded without shops.”

NSCDC arrests 60 pipeline vandals

Suspected vandals

John Edu

he Nigeria Security and Civil Defence Corps (NSCDC) said it had arrested 60 suspects for oil and pipeline vandalism in five months in Lagos State. The state NSCDC Commandant, Mr Gabriel Abafi, disclosed this at the Command Headquarters, Alausa, Ikeja, during the review of the corps’ activities since the beginning of

2015. He said: “The AntiVandalism Unit of the command has arrested over 60 suspected vandals. They were involved in vandalism of some infrastructure of the government, especially petroleum pipelines and installations. “Despite the face-off we had at Owutu, Isawo area of Ikorodu with suspected pipeline vandals in January, where three of our

personnel were abducted by the vandals, the corps has, in collaboration with other security agencies, ensured that sanity is restored in the area. “The vandals are becoming more sophisticated in their mode of operation, but this will not deter the corps from carrying out its statutory functions.” The commandant said NSCDC had been equipped to fight vandals and it would not shy away from such battle. He added that the Federal Government had also provided logistics to ensure 24 hours surveillance on government infrastructure. Abafi also disclosed that the Anti-Fraud Unit of the NSCDC was currently handling about 20 fraud cases. He said: “One of the cases has to do with visa scam. The suspect collected N210,000 from the victim, identified as Mrs Ike Kehinde.”

On measures to prevent future fire accident, Tijani said those in charge of security had ordered those selling fuel and other inflammable products out of the market.

Fire guts N700m property at Onitsha mechanic village Okegwu Kenechukwu Onitsha

ehicles and other valuables estimated at over N700 million were destroyed yesterday when fire razed a mechanic village at Savoy Junction on Awka Road, Onitsha, Anambra State. A witness told our correspondent that the fire started about 2.30pm from the workshop while mechanics were still on duty. The witness said the fire was believed to have started from one of the vehicles being worked upon and spread to other vehicles. Although there was no report of casualty at the time of filing this report, business and other activities were grounded in the commercial city. Thousands of sympathisers and motorists blocked the access roads while trying to save some valuables and a nearby filling station, Silva Oil. While the fire lasted, some residents of the area were throwing out their personal belongings from their houses for fear that the fire may spread to the filling stations around.

12 News

south-west

wednesday, may 20, 2015 NEW TELEGRAPH

Adegboruwa to sue Buhari for dropping Army rank Akeem Nafiu

he Presidentelect, Mohammadu Buhari's desire to be addressed as Muhammadu Buhari, President and Commander-in-Chief of the Federal Republic of Nigeria from May 29, has attracted a threat of litigation from a Lagosbased lawyer and human rights activist, Ebun-Olu Adegboruwa, who has threatened a court action against the decision. Buhari had, on Monday, said he would drop his military title, ‘General’ when he was eventually sworn-in as the President of the country next week. But, Adegboruwa said he would challenge the President-elect's decision through a court action, describing Buhari’s position as not only illegal but immoral. In a chat with the New Telegraph yesterday, Adegboruwa faulted Buhari’s position that he should be addressed simply as Muhammadu Buhari, without reflecting his official designation as a retired officer in the Nigerian Army as not normal, saying it calls the integrity

of the President-elect to questions. He said if the President-elect insisted on dropping the appellation, he would be left with no other option than to go to court to seek an injunction to restrain him from denying his official and legal titles, or alternatively, to give up, pay back and restore, all the pensions, salaries and benefits that he has so far accrued to

Ado-Ekiti

he new Commissioner of Police, Ekiti State Command, Mr. Etop John James, has said he will use his efficiency as an expert in community policing to stem the tide of kidnappings in the state. He spoke in Ado-Ekiti yesterday while addressing a group of protesters that were calling for a stop to kidnappings in the state. James, who resumed in the state on Monday, said the mandate given to him by the Inspector General of Police, Mr. Solomon Arase, was to restore peace in the state. In a related development, the Nigerian Medical Association (NMA) has suspended emergency services across hospitals in the state. The association said the move was to protest the kidnap of its members and continued re-

elect, is forever a part and parcel of the Nigerian Army", he said. He added that, "under and by virtue of Paragraph 1(1) of the 1st Schedule of the Armed Forces Pensions Act, General Muhammadu Buhari (Retd.), is entitled to and has indeed been receiving and benefiting from pension, as an officer who held a regular commission, before his

retirement". "General Mohammadu Buhari (Rtd) illegally seized power in Nigeria from an elected President on December 31, 1983 and forcefully crowned himself as Head of State. He forcefully held on to power for one year, 239 days, before he was also deposed on August 27, 1985, by General Ibrahim Babangida (Retd.). He is thus a retired com-

UNDP recommends Ondo healthcare delivery as pilot scheme Babatope Okeowo Akure

L-R: LP's running mate in last year’s governorship election in Ekiti state, Alhaja Mariam Ogunlade; member, representing Ekiti Central Federal Constituency I, House of Representatives, Mr. Michael Opeyemi Bamidele and Chairman, LP, Mr. Akin Omole, at a press conference on their defection to the All Progressives Congress (APC) from the Labour Party, in Iyin-Ekiti

New Ekiti CP vows to end kidnapping Adesina Wahab

him as a retired a commissioned officer of the Nigerian Army, or as a former military Head of State. According to him, the "General" in the name of the President-elect is the official and legal status, title, designation and appellation. "Under and by virtue of the Armed Forces Act, (s.25) a retired army officer, such as the President-

missioned officer of the Nigerian Army and he remains so for as long as he lives. "General Muhammadu Buhari (Retd) attends the Council of State meeting as former Head of State, which office he held in his capacity as a MajorGeneral. "President-elect became entitled to all the above by virtue of his membership of the Nigerian Army; he became Head of State, by virtue of his commission as an officer of the Nigerian Army and he has earned this salaries and benefits as such, over the years, even when he contested elections in 2003, 2007, 2011 and 2015".

ceipt of threat letters by members of the association from suspected kidnappers who had abducted no fewer than eight persons in the last three weeks. Those in the kidnappers' den are medical doctors, academics, nurses and their families are yet to make contacts with their captors. The CP, while reacting to appeal by some residents of the state, including the state lawmakerselect, students, traders and commercial motorcyclists in the state at the Trade Fair Complex, Ado Ekiti, said with the cooperation of all, criminal acts would be reduced in the state. The CP said he would work and listen to all legitimate groups in the state to address the security challenges confronting the state. He said: "Any group that is legitimate is free to talk to me. I will use all information I have now and I will listen to others. I am here to ensure peace."

Bamidele: My defection to APC, a home-coming Adesina Wahab Ado-Ekiti

he House of Representatives member in Ekiti State and Chairman Committee on Legislative Budget and Research in lower federal legislative chamber, Hon. Opeyemi Bamidele, yesterday defected from the LAbour Party to the All Progressives Congress (APC), saying the action, to him, means going back home. Bamidele, who spoke

to journalists in IyinEkiti, in the midst of his supporters along the Bibiire Coalition, said he was not going back to the APC to engage in leadership tussle with anybody. Bamidele who left the APC for the LP to contest the June 21, 2014 governorship election in Ekiti State, said he and his supporters took the step in a bid to rescue the APC from the brink of collapse. On why he did not defect before the last general

elections, Bamidele said though he openly supported the Buhari/Osinbajo ticket, but had to stay with LP candidates contesting National and State Assemblies elections. He said, “By and large, politics, if it is meant to serve the common interest, must be a dynamic aspect of human endeavour that embodies a whole process of expression, competition and reconciliation of personal interests for the ultimate benefit of the people.

Electricity tapping: IBEDC deploys task force in Osun Adeolu Adeyemo Osogbo

ollowing the worrisome dimension which illegal use of electricity in Osun state has assumed, authorities of the Ibadan Electricity Distribution Company (IBEDC) has deployed task force across the state to arrest anybody found culpable in connection with the unholy act. The Zonal Branding and Communication Offi-

cer of the Establishment, Mrs. Kike Owoeye, made this known in a statement to newsmen in Osogbo yesterday. Owoeye in the statement noted that, the management of IBDEC would not spare anyone caught to be part of the unwholesome act, saying they would face the consequence. The company’s spokesman who stated that the organisation task force in conjuction with security agencies had commenced

work to wage war against the illegality, warning that those indulging in it to desist before it becomes late for them. It will be recalled that in the last few weeks. (IBEDC) announced that it has arrested 50 persons in connection with illegal tapping of electricity in the state at a stakeholders' meeting held in Osogbo. The Hub Manager, Mr Bewaji Ajilola, threatened to prosecute saboteurs and those tapping electricity illegally in the state.

he United Nations Population Fund to Nigeria (UNDP) yesterday recommended that the Ondo State health care delivery initiative should be established as a pilot scheme for the country’s health system. The UNDP representative in Nigeria, Mrs Ratidzai Nahlovu, made the recommendation when she led a delegation of the International Agency on a courtesy visit to Governor Mimiko at the Government House in Akure. According to her, what she saw having been conducted round some health facilities in the state by the Commissioner for Health, Dr Dayo Adeyanju, portrayed the state as the cynosure for health sector transformation in Nigeria. She commended the Mimiko’s administration's giant strides in the health sector, saying, "our visit to some health facilities in the state including mother and child hospital revealed that Governor Mimiko, has done so much for the people in the provision of quality health care service". The UNDP representative said the agency would partner the state government in reducing maternal mortality, adding that other states of the Federation should emulate the Ondo example in maternal health care. The international agency boss also lauded the Agbebiye’s initiative of the state government under which pregnant women were referred to public health facilities nearest to them in the state for delivery.

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

National Assembly

Parliament

Zamfara

Governance

Reps caucuses bicker over endorsement of candidates

Bickering over rules

Flogging an in-law twice

Suswam’s seven albatrosses

Politics

Schemed out of power On May 29, the political relevance of many deputy governors will come to an end having lost their seats or their principals checkmated their ambitions in the March 28 and April 11 elections. TEMITOPE OGUNBANKE writes on what become of these ‘spare tyres’ after May 29

Adesegun

Lawani

Ibeto

Mukhtari Shagari

Orelope-Adefulire

Olanusi

eputy Governors have largely been described as ‘spare tyres’ to their governors. This is why many of them have been used and dispensed at will by their principals. In the build up to the 2015 elections, several deputy governors made attempts to succeed their principals who were on the last lap of their tenure. Some of them did not make it beyond party primaries as the governors effectively checkmated their ambitions. Unfortunately, the governors felt many of them are unworthy to take their place. Even those who made attempts incurred the wrath of their principals. Out of the 29 states where governorship election took place on April 11, only two deputy governors – Abdullahi Ganduje (Kano) and Dave Umahi (Ebonyi) – will have the opportunity to replace their principals. For the duo, it was a mixed feeling. While Gan-

AYODELE OJO

DEPUTY EDITOR, PoLITICS ayodele.ojo@newtelegraphonline.com

duje was supported by his boss, Governor Rabiu Kwankwaso, Umahi’s emergence as Governorelect was against the wish of Governor Martins Elechi. On May 29, when new sets of leaders emerge on the political space, many of the deputy governors will face a bleak political future. They failed to succeed their principals and those who opted for the Senate lost woefully. Ganduje succeeds Kwankwanso The Governor-elect of Kano State, Ganduje, is expected to take

over from Governor Kwankwaso, who he enjoyed a robust relationship with during the eight years they served together in Kano Government House. Ganduje was Deputy Governor of Kano from 1999 to 2003 under the platform of the Peoples Democratic Party (PDP). They lost re-election to Malam Ibrahim Shekarau, who served for two terms. Again, destiny brought Kwankwaso and Ganduje back to Government House after eight years as they were re-elected on April 27, 2011 and sworn in on May 29, 2011 for

a second term in office. Ganduje, who was born in Ganduje village of Dawakin Tofa Local Government Area of Kano State in 1949, is not a greenhorn in politics having been in the course for almost 30 years. He started politics in the aborted Second Republic and served as the Assistant Secretary of the defunct National Party of Nigeria (NPN) from 1979 to 1980 in Kano State. He joined the PDP and aspired to be the party’s gubernatoCONTINUED ON PAGE 14

Politics

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

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

rial candidate but later became deputy to Kwankwaso and also served as Commissioner for Local Government. Despite PDP losing the 2003 governorship poll to Shekarau, Ganduje served as Special Adviser (Political) when Kwankwaso was Minister of Defence. Because of the cordial relationship between the duo, Kwankwaso also picked Ganduje as his running mate during the April 2011 governorship poll and both were re-elected. In the build to the 2015 polls, Kwankwaso backed Ganduje with his political group, Kwankwasiya. Ganduje, who contested on the platform of the APC, polled 1,546,434 votes to defeat Alhaji Sagir Takai of the PDP, who had 509,720 votes. With Kwankwaso stepping down from the governorship seat and heading to Abuja as senator, it is expected that Ganduje will manage and inherit his boss’ vibrant political structure across the state. Umahi overpowered Elechi In Ebonyi State, the plot by Governor Elechi to stop his deputy, Umahi, from succeeding him did not see the light of the day. Umahi, the Governor-elect made a foray into politics when he was first appointed acting chairman of Ebonyi State chapter of the PDP in 2007 and was later elected the substantive state chairman in 2009, a position he held till 2011, when he became running mate to Elechi in the gubernatorial election. Prior to the December 2014 PDP governorship primaries, Elechi had endorsed the then Minister of Health, Prof. Onyebuchi Chukwu, as his successor. But political gladiators in the state led by the Secretary to the Government of the Federation (SGF), Senator Anyim Pius Anyim, and former Governor Sam Egwu kicked against Elechi’s choice and backed Umahi. They even denied Elechi a senatorial ticket. The deputy governor eventually emerged as PDP flag bearer and won the April 11 governorship poll against Elechi’s choice. Elechi’s supporters had defected to the Labour Party (LP) to scuttle Umahi’s chances. Umahi won the governorship poll, scoring 289, 867 votes to defeat his closest rival, Sir Edward Nkwegu of the Labour Party, who had 124, 817 votes. Luka-Barau’s failed dream Damishi Luka-Barau, the deputy governor of Nasarawa State, made several attempts to unseat his boss, Governor Umaru AlMakura. He was elected on April 11, 2011 along with Al-makura on the platform of the defunct Congress for Progressives Change (CPC). The duo fell apart after the registration of the APC. At a point, the APC state executive suspended the deputy governor from the party. After months of speculations, Luka-Barau on March 3, 2014 defected to the PDP. The crisis between Al-Makura and Luka-Barau deepened during the impeachment plan against the governor by the PDP-dominated House of Assembly. In the heat of the impeachment process against Al-Makura, the deputy

Luka-Barau

Ikuru

Faskari

Deputy govs face bleak political future governor had hoped to benefit from the process. His calculation was that he would be the beneficiary if the impeachment plot had succeeded. After the impeachment plot against Al-Makura failed, the deputy governor declared his interest to run for the state governorship election but his plan to pick the PDP’s ticket hit the rock as he came sixth in the PDP’s primaries won by Yusuf Agabi, who polled 214 votes. Agabi also defeated former Minister of Information, Labaran Maku; former Governor Aliyu Akwe Doma; Senator Solomon Ewuga and John Michael Abdul to emerge as PDP flag bearer in the April 11 governorship election. Luka-Barau was later appointed the state coordinator of the PDP Presidential Campaign Organisation. With Governor Al-Makura’s re-election and PDP losing at the central, the political future of Luka-Barau looks bleak. Olanusi miscalculated The former deputy governor of Ondo State, Alhaji Ali Olanusi, recently had his political career truncated by an impeachment. Olanusi made a foray into politics in 1978 when he became the Chairman of Constituency 1 in Akoko South Local Government Area in 1978 on the platform of the then Unity Party of Nigeria (UPN). Ever since then, he held several positions including membership of the House of Representatives and PDP state chairman. He resigned as PDP chairman to become running mate to Dr. Segun Mimiko in 2007 on the platform of the Labour Party. Olanusi was re-elected as deputy to Mimiko in 2012. Three days to the March 28 presidential election, Olanusi defected to the

The governors felt many of them are unworthy to take their place. Even those who made attempts incurred the wrath of their principals

APC. Through a combination of factors, APC won the presidential election, two senatorial seats and some House of Representatives seats in Ondo State. After the victory of the APC in the March 28 poll, Olanusi and other opposition leaders thought that a win in the House of Assembly election would pave the way for Mimiko’s impeachment. Unfortunately, PDP won most of the assembly seats. Hence, the heat was turned on the deputy governor. The House began his impeachment and the process was quickly completed even in his absence. With his impeachment, Olanusi lost his political status in the state. At over 70, he is not expected to contest any position. He has however being compensated with the membership of the APC Board of Trustees (BoT). Amaechi, Ikuru severed cord Rivers State deputy governor, Engr Tele Ikuru, is another number two citizen that dumped his principal few days to the general elections. Ikuru, who hails from Ikuru Town in Andoni Local Government Area, was Amaechi’s running mate, shortly after he won the Rivers State PDP gubernatorial ticket in 2006. Amaechi’s candidature was nullified by the leadership of the PDP and was replaced by his cousin, Sir Celestine Omehia as PDP gubernatorial candidate. Omehia also retained Ikuru as his running mate and both were sworn in on May 29, 2007. However, when the Supreme Court removed Omehia on October 25, 2007, and replaced him with Amaechi, the governor didn’t dump Ikuru. He retained him as his deputy and this seemed to be why Ikuru’s was loyal to his boss. Although, the deputy governor

was not suspended by the leadership of the PDP along with Amaechi, but Ikuru moved into APC with the governor. In the APC, Ikuru was left out of the calculation. He was neither offered gubernatorial nor senatorial ticket and he never complained. But five days to the March 28 presidential poll, Ikuru dumped Amaechi for the PDP. Luckily PDP won the governorship election with Nyesom Wike. With PDP losing the presidency, a federal appointment for Ikuru has been foreclosed. As it is, the deputy governor may be forced out of governance. Adesegun: Misled by political godfather Ogun State deputy governor, Prince Segun Adesegun, parted ways with Governor Ibikunle Amosun over his governorship aspiration, which did not materialise. Apart from losing the opportunity to be re-elected with Amosun, Adesegun also lost political relevance in Ogun politics for attempting to destroy the house he built with others four years ago. Adesegun was Commissioner for Works and Housing during the Olusegun Osoba administration between 1991 and 1993. He was also re-appointed as Commissioner for Works and Housing in the Osoba government between 1999 and 2003. He was also a National Youth Leader of the Action Congress (AC) and later Deputy National Treasurer of the defunct Action Congress of Nigeria (ACN), from where he contested with Amosun in 2011. The cordial relationship between the governor and his deputy became a cat and mouse relationship after their second year in office due to leadership tussle between Amosun and Osoba. After several reconciliation efforts

Politics

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Bajoga, a former Ambassador to Poland and former PDP state chairman, became deputy governor after Yero was sworn in as the governor on December 16, 2013, following the death of Governor Patrick Yakowa in a helicopter crash in Okoroba-Nembe, Bayelsa State. With their defeat, Bajoga and Yero will leave Government House.

Ganduje

Umahi Won governorship election

Name

Longjan Lost re-election with governor

State

Party

Abdullahi Ganduje

Kano

APC

Dave Umahi

Ebonyi

PDP

Re-elected with governors 1.

Zannah Umar Mustapha

Borno

APC

Ibrahim Wakkala

Zamfara

APC

Eze Madumere

Enugu

APC

Moses Adeyemo

Oyo

Peter Kisira

6. 7.

Nuhu Bajoga

Kaduna State

PDP

Abdullahi Faskari

Kastina

PDP

Adejoke Orelope-Adefulire

Lagos

APC

Failed to realise senatorial ambitions

Defected to new party Name

State

From

Ahmad Mahmud

Jigawa

PDP

APC

Ali Olanusi

Ondo

PDP

APC

Kwara

APC

Ahmed Musa Ibeto

Niger

PDP

APC

Abubakar Aliyu

Yobe

APC

Tele Ikuru

Rivers

APC

PDP

Charles Iliyas

Gombe

PDP

Segun Adesegun

Ogun

APC

SDP

Damishi Luka-Barau

Nasarawa APC

PDP

Didn’t participate in primary elections

Failed to get party’s ticket at primaries

Valerie Ebe

Akwa-Ibom

PDP

Ralph Nwoye

Enugu

PDP

Ignatius Longjan

Plateau

PDP

Emeka Ananaba

Abia

PDP

Ibrahim Aliyu

Kebbi

PDP

Efiok Essien Cobham

Cross Rivers

PDP

Amos Utuama

Delta

PDP

Mohammed Garba Gadi

Bauchi

PDP

Damishi Luka-Barau

Nasarawa

PDP

Tele Ikuru

Rivers

PDP

Mukhtari Shagari

Sokoto

PDP

Ahmad Mahmud

Jigawa

PDP

Steven Lawani

Benue

PDP

by the APC leadership failed, the former governor defected with his loyalists including Adesegun to the Social Democratic Party (SDP). When Adesegun defected to SDP, many people thought that he would emerge as the party’s governorship flag bearer but he failed to clinch the ticket. The deputy governor ended up running as a running mate to Senator Akin Odunsi. Despite the threat by Osoba and SDP leaders to send Amosun packing from the OkeImosan Government House, SDP performed woefully at the poll. On two fronts, Adesegun failed in his bid to be elected governor or retain his seat as deputy governor. Except the deputy governor finds his way back to the APC, he may go into political oblivion. Shagari: Twice unlucky Mukhtari Shagari had hoped of becoming governor of Sokoto State. He tried in 2003 without success. He resigned his position as minister in the Olusegun Obasanjo administration in 2007 to pursue his governorship ambition. In the last 12 years, Shagari has never made any pretence of his desire to govern the Seat of Caliphate. He tried to run for the governorship race in 2003 but the ambition did not see the light of the day. In the run-up to the 2007 elections, Shagari was nominated by the PDP as its gubernatorial

candidate for Sokoto but was prevailed upon by former President Obasanjo and the PDP leadership to step down for Aliyu Wamakko, whom he paired with. Shagari was elected with Wamakko in 2007 and re-elected in 2015. For seven years, Governor Wamakko and his deputy enjoyed robust relationship until the governor defected to the APC on November 26, 2013. While Wamakko defected to the APC with all council chairmen and lawmakers in the state Assembly, Shagari stayed put in the PDP. In the build up to the PDP primaries, Shagari indicated interest in the governorship ticket. Again, he was denied of the ticket. The PDP preferred Senator Abdallah Wali as its governorship candidate. In the April 11 election, Speaker of the House of Representatives, Hon Aminu Tambuwal emerged the Governor-elect. For now, the political future of Shagari is uncertain. Ibeto dumped Aliyu Niger State deputy governor, Alhaji Ahmed Musa Ibeto, indicated interest to succeed Governor Muazu Babangida Aliyu. But the governor preferred his Chief of Staff, Alhaji Umar Nasko. The situation forced Ibeto to pitch tent with the APC. He defected to APC with serving and former members of the National Assembly, state Assembly, former

On two fronts, Adesegun failed in his bid to be elected governor or retain his seat as deputy governor... he may go into political oblivion

commissioners, former local government chairmen and party leaders across the 25 local government areas of the state. Ibeto worked for the success of the APC in the state on March 28 and April 11 elections. He was instrumental in the defeat of Nasko in the governorship election as the PDP candidate lost to the APC candidate, Alhaji Abubakar Sani Bello. With APC being a ruling party at the federal level and state, Ibeto is sure of being a factor in his state. Lawani failed to succeed Suswam Benue State deputy governor, Chief Steven Lawani, was among the aspirants that reportedly picked the PDP governorship nomination and expression of interest forms at the party’s national headquarters in Abuja, in order to contest the governorship election in 2015. While picking his nomination form, Lawani told newsmen that he was motivated to join the race, having consulted with the state’s stakeholders and Governor Gabriel Suswam. But Lawani failed to pick the PDP governorship ticket. He scored 311 votes to clinch second position in the PDP primaries won by Suswam’s anointed candidate, Hon. Terhemen Tarzoor. Age, zoning and many other factors contributed to Lawani’s failure to get the PDP ticket. With the defeat of PDP in Benue State and change of baton at the federal level, Lawani may have been forced to retirement. Bajoga sinks with Yero Ambassador Nuhu Bajoga, the Kaduna State deputy governor was the only incumbent that sank with his principal during the April 11 governorship election. Governor Mukhtar Yero lost woefully in the governorship poll. Yero’s ambition of returning to Kaduna Government House was truncated by the former Minister of the Federal Capital Territory (FCT), Mallam el-Rufai, who won on APC’s platform. ElRufai scored 1,117, 635 votes to defeat the incumbent, who polled 485,833 votes. el-Rufai’s victory marked the first time the PDP will lose a governorship election to an opposition party in Kaduna State since 1999.

Orelope-Adefulire’s ambition couldn’t fly Lagos State deputy governor, Mrs. Adejoke Orelope-Adefulire, is an experienced female politician in Lagos State with rich political pedigree. Aside the fact that her late father, Alhaji Saka Orelope, has been an influential political figure in Lagos politics, she too has garnered experience on the political turf having served in the executive and legislative arms of government. She was a member of the Lagos State House of Assembly in the aborted Third Republic on the platform of the Social Democratic Party (SDP) and later served as member of the Lagos State Independent Electoral Commission (LASIEC) between 1999 and 2003. Before she became deputy governor in 2011, Orelope-Adefulire served as Commissioner for Women Affairs and Poverty Alleviation in both Bola Tinubu and Babatunde Fashola cabinets. In the build up to the general elections, the deputy governor declared interest for Lagos West Senatorial District. Suddenly, she withdrew from the race few days to the senatorial primaries. He took active parts in the party’s campaign and contributed to the party success in the March 28 and April 11 elections. With the APC’s victory at the centre, Orelope-Adefulire may get a federal appointment. Kastina deputy governor lose senatorial bid Unlike some of his colleagues who had their eyes on succeeding their governors, Kastina State deputy governor, Alhaji Abdullahi Faskari, showed interest in the senatorial poll. He contested at the PDP senatorial primaries and won the party’s ticket for Kastina South Senatorial District. Despite the huge resources deployed to his senatorial campaign and the PDP’s structures being the ruling party in the state, all the party candidates were caged during the March 28 and April 11 by the APC. With the influence of the President-elect Muhammadu Buhari, APC won virtually all the federal and states elected positions in the state. Faskari was also a victim of APC’s victory in the state. The deputy governor, who scored 100,364 votes, lost to the Senate Minority Whip, Senator Abu Ibrahim, who polled 409, 642 votes. For Faskari, he may have to wait till 2019. Mahmud’s spoiler role The Jigawa State deputy governor, Alhaji Ahmad Mahmud,was also denied the opportunity of succeeding his boss. Rather than supporting his deputy, Governor Sule Lamido threw his weight behind his former Chief of Staff, Alhaji Aminu Ibrahim Ringim. CONTINUED ON PAGE 43

16 Politics

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Speaker: Reps caucuses bicker over endorsement of candidates Philip Nyam Abuja

s intrigues over who becomes Speaker of the House of Representatives continue, members of the lower chamber of the National Assembly are bickering over the series of endorsements. A member of the House of Representatives from Kaduna State, Hon. Ahmed Rufai Chanchangi, has revealed that 80 out of the 90 lawmakers from the North-West geo-political zone have

lChanchangi: 80 North-West lawmakers back Gbajabiamila endorsed the candidature of Hon. Femi Gbajabiamila. This is just as a group of lawmakers from the North Central zone have distanced themselves from the purported endorsement of Gbajabiamila. Chanchangi, who disclosed this in an interview with newsmen in Abuja, said the principle of fairness, integrity and reciprocity demands that members support Gbajabiamila to lead the 8th House given the sacrifices he has made to uphold

the interest of the NorthWest since 2011. Chanchangi said: “I think, to me and to the retur ning members of the House, there is no conflict at all. The only person in the race is Hon. Femi Gbajabiamila. “Apart from him, I can’t see anybody in the race because when you are talking about someone being in the race, the first thing to be taken into consideration is your home support base. “So, for me the only person that is contest-

ing is Hon. Gbajabiamila. I am from the North-West, we have almost 90 members from the North-West. Kaduna State in particular we have 16, from Kano we have 24, Katsina has 15, Jigawa has 11 and Sokoto has 12 members respectively. “What we have is almost one-quarter of the total honourable members of the House. And if you take a look at that statistics, from the 90 honourable members, about 75 to 80 are 100 per cent with Gba-

Aides of the outgoing lawmakers packing out their luggages at the National Assembly Complex in Abuja…yesterday.

PHOTO :ELIJAH OLALUYI

Ortom pledges to partner Buhari on insecurity Philip Nyam and Yekeen Nurudeen Abuja

enue State Governor-elect, Dr. Samuel Ortom, has urged the Presidentelect, General Muhammadu Buhari, to address the issue of clashes between nomadic cattle herders and farmers in the state. Ortom said that his administration would work closely with the Federal Government in fighting insecurity in the country. He also told the President-elect that the Senate Minority Leader, Senator George Akume, deserves to be elected as Senate President based on his wealth of experience and enviable contributions to the growth of democracy in the country. Ortom, who made this plea when he paid a courtesy visit on the President-elect in Abuja, said

no nation can develop in a state of crisis and insecurity, hence his administration was prepared to partner with the new government at the federal level to end the spate of insecurity across the country. “As we all know, no country or state can develop without security. When we live in peace, we can then put in place strategic plans to boost our economic development. We are all too familiar with the incessant clashes between pastoralists and farmers in many parts of the country. “From Benue to Plateau, Taraba to Zamfara, Katsina and name it, several communities have been sacked by these people whose business it has been to spill innocent blood. For us in Benue State, our people who are mostly farmers cannot even afford to go to their farms any longer for the fear of these

people. Our new government in Benue will be happy to partner with the Federal Government to bring this menace to an end as soon as possible,” he stated. He told Buhari that his victory was welcome by Nigerians because they believe he has what it takes to take the country out of the woods. According to him, “Nigerians are excited with the victory of General Buhari as the president of our beloved nation. In Benue State, we are particularly happy that we share a long history of affinity with you. This starts right from his service in the Nigerian Army as a Brigade Commander in the state. You are therefore not new to us and we are not new to you.” In a related development, former National Chairman of the Peoples Democratic Party (PDP), Senator Barn-

jabiamila and this is not because of party affiliation but because of what he did.” But a member-elect from Benue State, Hon. Mark Gbilah, speaking on behalf of eight of his colleagues from North Central said they were not part of the endorsement of any candidate. They were said to have endorsed Gbajabiamila. Gbillah said they did not at any time endorse anyone but “we’re instead waiting on the party to decide on zoning before making their choice.” He said none of them was contacted before the publication of May 8 in several national papers. “We want to state categorically that we were not aware of the publication; we did not sanction it and we are not part of it.” The fresh lawmaker said he was speaking on behalf of the following lawmakers: Hon. Orker Jev (APC), Emmanuel Udende (PDP), Chris Adaba (PDP), Adamu Entonu (PDP), Beni Lar (PDP, Plateau), Suleiman Kwande (APC, Plateau) and Mohammed Ogoshi (PDP, Nasarawa). Meanwhile, chairman of the House Committee on Finance and speakership aspirant, Hon. Abdulmumin Jibrin (APC, Kano) has said the acceptance of the lawmakers, not purported zonal and state endorsements will determine who emerges

abas Gemade (Benue North-East), has admitted that the electoral victory of Buhari has changed negative perception about Nigeria, especially at the global stage. Gemade, who spoke in Abuja yesterday during the official unveiling of a book, ‘Fragrance of Diversity’, urged Nigerians to sustain the momentum engineered by the successes recorded during the general elections in order to move the country forward. ‘Fragrance of Diversity’ is a book written by Mr. Nosike Ogbuenyi, the Special Assistant to the Federal Capital Territory (FCT) Minister on Media. The book demonstrates how some of Nigeria’s cultural traits and diverse names which have often been misapplied as divisive tools can be transformed into positive instruments of unity.

speaker in the 8th Assembly speakership election. Jibrin, who spoke in Abuja yesterday during a chat with journalists, said: “As evident with the outgoing 7thAssembly, members of the House of Representatives chose their leaders based on acceptance, not purported endorsement being bandied in the media. I am confident that the 8th Assembly will continue this laudable democratic trend.” Jibrin also challenged other speakership aspirants to clearly articulate their legislative agenda instead of bandying “fake” endorsement claims. “All the endorsement claims and counterclaims have ended up as fakes and lies. However, the focus should be acceptability not fake endorsements. Secondly, I have concentrated clearly in what I will do if elected, other aspirants are simply struggling to be speaker in a do or die manner. I challenge them (aspirants) to come out with their agenda if they are sure it will be in the new spirit of change,” Jibrin added. The Kano lawmaker hailed the Presidentelect, General Muhammadu Buhari, on his promise not to interfere in the selection of leaders of the National Assembly and allow for “due process” in selection.

May 29: Nothing can stop Wike’s swearing-in, says PDP Emmanuel Masha Port Harcourt

he Rivers State chapter of the Peoples Democratic Party (PDP) has said that the victory of Governor-elect, Barr. Nyesom Wike at a Federal High Court in Owerri clearly demonstrates that nothing can stop his swearing-in come May 29. The party chairman, Felix Obuah, who made the remarks while reacting to the striking out of a suit filed by the Rivers Attorney General, Wogu Boms and the All Progressives Congress (APC), that would have prevented Wike’s swearing-in, noted that the judiciary had acted as the last hope of the common man. The court, presided over by Justice S.M. Shuaibu had declared that

Port Harcourt was the rightful place for the suit to be entertained, in line with the provisions of the Federal High Court 2011 Notice on the venue of filing suits and the territorial jurisdictional limits. He subsequently struck out the suit on the grounds that his court lacked the jurisdiction to entertain it. Obuah said that the Attorney-General and the APC knew that the Federal High Court, Port Harcourt would not succumb to their prayers, and decided to move to Owerri. He blamed Governor Rotimi Amaechi for the plot to stop Wike’s swearing-in. Obuah said that the PDP and Wike were ready to challenge Amaechi wherever he goes to subvert the rule of law.

Politics 17

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

The Senate and the Presidency have been at crossroads in the last one month over the refusal of President Goodluck Jonathan to sign into law the Fourth Alteration Bill which the National Assembly, earlier passed and transmitted to him. CHUKWU DAVID examines the scenario

Bickering over rules

hat transpired in the Senate on Wednesday, last week, was a manifestation of the Senate’s appreciation of the rule of law, irrespective of how strongly they felt that the action of President Goodluck Jonathan in not assenting to the Alteration Bill would deny the 7th Assembly the already celebrated feat of successfully bringing the constitution amendment project to conclusion. No doubt, the senators had taken a hard position to ignore the Supreme Court order and override Mr. President but they thought twice and decided to weigh the implications of their intended action on democracy and posterity, and wisely chose the better option. Genesis of the rift Barely one month ago, the relationship between the Presidency and the National Assembly became frosty as a result of the refusal of President Jonathan to assent to the 2015 Amendment Bill to the 1999 Constitution (as amended). The President, in a six-page letter, addressed to the President of the Senate and the Speaker of the House of Representatives, Senator David Mark and Hon. Aminu Waziri Tambuwal respectively, informed the two legislative Chambers of his decision to withhold his assent to the Bill. He mentioned about 12 reasons in the amendments, which he considered weighty enough to stop him from signing the document into law. He also said that he was going to return the unsigned Bill to the National Assembly for possible necessary action. This informed the Senate, which was already infuriated by the development, to ask the President to return the document, with emphasis on the signature page. It was learnt that the senators laid emphasis on the signature page because they heard from an insider in the Presidency that the President had signed the document but later changed his mind on the advice of the AttorneyGeneral of the Federation and Minister of Justice, Mr. Mohammed Adoke. This action of Mr. President did not go down well with the members of the National Assembly, who have been recounting their ordeals in carrying out the alteration exercise; only for their efforts

Jonathan

to be nullified in a twinkle of an eye by the Executive. The National Assembly, and the Senate in particular, had told Nigerians that it had satisfied the basic constitutional requirements involved in constitution amendment process. Therefore, on February 19, 2015, the Senate ratified the Bill and transmitted it to President Jonathan for assent. At this stage, in which the relevant parliamentary houses had played their parts having fulfilled their constitutional obligations on the Bill by both the National Assembly and state assemblies, it was the expectation of the lawmakers and Nigerians in general that the president would assent to it, so that the various institutions of government would commence implementation of policies and programmes based on the proposed Act. Unfortunately, that was not the case, as the National Assembly members were taken aback on April 15, when the President of the Senate, Senator David Mark, read the letter from President Jonathan, in which he informed the Upper Chamber that he had withheld his assent to the Fourth Alteration Bill. Amongst other reasons, the President said that he would not assent to the amendments because he observed that the alterations did not satisfy the strict requirements of Section 9(3) of the 1999 Constitution (as amended). He kicked against the decision of the National Assembly to whittle down some Executive powers of the President of the Federal Republic of Nigeria and that of the Attorney-General of the Federation. He also faulted some amendments in the Bill which gave executive powers and duties to the

Mark

legislature and the judiciary. Senators kick Soon after the letter was read, senators started reacting to the position of President Jonathan. Some of them outrightly condemned the action, which they considered a major setback on the achievements of the parliament; others expressed mixed feelings, commending the president on one hand and condemning his action on the other hand. The Chairman, Senate Committee on Rules and Business, Senator Ita Enang, while reacting to the situation, applauded President Jonathan for what he viewed as the patriotic as well as nationalistic stance of Mr. President in rejecting the Constitution Alteration Bill. Enang described President Jonathan’s refusal to assent to the Amendment Bill as another act of statesmanship. His opinion was informed by the fact that in spite of the reality that Jonathan’s tenure would end soon, he was patriotic enough to point out some errors in the Act, which would hurt Nigeria and her future leaders, and thereby withheld his assent. However, while balancing his view on the matter, Enang noted that the observations made by the President came too late, and wondered why the relevant officers in the Presidency did not point the issues out to the President till the National Assembly passed the Bill. He frowned at the officers working with the President, who should have raised these issues at the point of the public hearings where opportunities were provided for the public to make their contributions at the processing stage. Similarly, the Senate Leader, Victor Ndoma-Egba, noted that

the process of passing the Bill by the National Assembly and the state assemblies was cumbersome, and expressed surprise that it was at this stage that such objections were coming from President Jonathan, when it was almost impossible for the current Assembly to do anything to correct whatever defects that need to be corrected in the amendments. FG opts for court option As the Senate was still mourning this unprecedented and painful development, the President again, through the Attorney General, Adoke, approached the Supreme Court and obtained an ex-parte order, restraining the National Assembly from further doing anything on the Fourth Alteration Bill. The court also fixed hearing for June 18. By implication it means that the 7th Senate will have nothing to do with the amendment Bill again because the lifespan of the present National Assembly will expire on June 4. This option taken by the Executive further provoked the Senate, which felted slighted and perhaps emotionally sought to take revenge by overriding Jonathan. The Senate spokesman, Senator Enyinnaya Abaribe, who reacted to the Supreme Court order said that the apex court lacked the powers to stop the National Assembly from performing its legislative duties as far as the process of amending the 1999 Constitution was concerned. He said: “The Supreme Court is wrong. The law does not allow CONTINUED ON PAGE 40

MORE STORIES ON pageS 40-43

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Opinion Environmental cost of Taraba’s blue gem Emeka Inwerogu

he mambilla plateau, located in the highland region of Taraba State of Nigeria, is a potential tourist haven with its beautiful and compelling scenery which rightly depicts the state as “Nature’s gift to the nation”. The mambilla is the highest plateau in Nigeria, having an altitude of about 1,600 metres (5,249 feet) above sea level. Mambilla is a catchment area from which rainfall flows into rivers, lakes and streams. It enjoys an annual rainfall of 1,850 millimetres, and the rain which flows through the many rivers on the plains below the plateau, drains into smaller streams around which the blue sapphire is often found. Popularly called ‘the blue stone’, the blue sapphire is regularly extracted from mineral stones by local miners, many of whom derive their source of livelihood from the sale of the precious gem. The tedious process of fetching the stones involves the clearing of vast forests around the streams, after which pits are dug. These pits reduce the flow of water from the stream to make it easier for the local miners to search for the sapphire. But the environment suffers degradation, as a result. The reduction in the flow of water from the streams into the forests, leads to dryer forests which negatively affects the ecology of the forests. The relationship of the living organisms (flora and fauna) to the physical environment of their forest habitat is affected which could cause a ripple effect on the broader ecosystem of the region. Also, heaps of the sand dug out from the pits, are often washed down the stream into the rivers. The silting of the rivers with the sand, makes the rivers shallow. Hence, the combination of the dryer forests and the heavily-silted rivers which eventually dry up during the dry season, grossly affects the livelihoods of the natives living around the area. The farmers who rely on non-timber products from the forests experience the effects, and the fishermen no more find abundant fishes to catch from the silted waters. The concomitant result is that many of these farmers and fishermen have out

of frustration, abandoned their occupations and joined the local miners to dig for the blue sapphire. Equally worrisome, is the fact that many young boys and girls have voluntarily dropped out of school to seek financial gains by becoming local miners of the blue stone. The major factors causing the massive influx of men, women, youth and children into local mining to seek for these mineral stones, are illiteracy, unemployment and poverty, in addition to the perceived lack of organisation and an adequate legal framework in the solid minerals sector of Nigeria. A youth leader, Musa Gide, who lives in Jos, described how economically beneficial the mining business has been for the locals who participate in it. According to Gide, “some of our brothers who are from poor backgrounds and who have nothing doing, are here (mining site) keeping themselves busy. Some of them who didn’t even have ten naira (N10), can today count millions of naira. Some of them even sponsor their brothers and sisters because of (the proceeds from) this mining.” Many believe that mining has brought relief from poverty and reduced crime. But the prominent question on the lips of not a few environmentalists and concerned stakeholders, is whether the economic benefits derived by the local miners, supersedes the devastating trend of the artisanal mining which if allowed to continue unabated, will worsen the already-deteriorating state of the environment. Gilbert Nyanganji, an environmentalist, reckoned that, “to find a balance between a new source of income to the local inhabitants of the plateau and to maintain the health of the ecosystem, lies the need to employ a sustainable means of extracting the minerals. “It would be hard to tell the people to stop the local mining. There has to be a synergy that the mining still goes on locally to sustain people’s livelihoods from day to day, and also put the environment as a huge priority. If we don’t checkmate the situation (the environmental impact), we could have a problem of sanitation that would flow through the rivers into the River Niger and as far down as the Niger Delta”.

In the light of the foregoing, a structural geologist, Mr Isaac Boyi, has recommended that, “the Nigerian government needs to establish an ‘independent’ entity called the Solid Minerals Development Company. The independent entity would act like the NNPC (Nigerian National Petroleum Corporation) in the oil sector of Nigeria. It will easily acquire federal government permit over land areas where these resources exist. But because it might not have the capital to be able to mine, it will enter into partnerships with capable established mining companies, just as NNPC enters into joint ventures with Shell, Mobil, and others. There woud be expertise and necessary equipment, and the resources would be extracted safely. Production will be shared according to the Joint Venture Agreement (JVA)”. The weak legal system regulating the mining sector in Nigeria, has given room for artisanal mining to thrive indiscriminately, to the detriment of the environment. There is therefore an urgent need for effective policies, standards and regulations to be put in place to legally guide the artisanal mining practitioners. Also, the artisanal miners often delve into the sector with no knowledge about safe mining practices. There is the need for the government at national, state and local levels, to organise series of trainings for the local miners, to enlighten them on international best practices for safe mining operations, so as to prevent them from losing their lives and ruining the environment. With the shortfall in crude oil revenue, owing to the cascading price of oil at the international market, it is has become absolutely expedient for the Nigerian government to diversify the nation’s oil-based economy. The government must as a matter of priority, develop the solid minerals sector as a viable option to boost the nation’s dwindling revenue. And looking towards the development of the solid mineral sector would seem as a viable option to boost the nation’s dwindling revenue, however the exploitation of solid minerals would come at a damaging cost to the environment. • Inwerogu (emekainwerogu@gmail.com, 07031324669).

Town planners and national development (1) Bisi Adedire

he completion of the general elections in a peaceful manner contrary to various predictions is indeed a welcome development and a sign of better days ahead. We therefore, use this platform to congratulate the president-elect, Gen. Mohammadu Buhari (Rtd) on his victory at the polls as well as his persistence and resilience towards his ambition over the years which has finally paid off. We also find commendable, the show of high level statesmanship exhibited by the president, Dr. Goodluck Ebele Jonathan. His attitude towards defeat is infectious and applaudable and has only endeared him to the hearts of many more. Congratulations to both parties and we wish Nigeria and Nigerians the best of times. As Nigerians and professionals, it is our desire to point out some of the salient issues that call for immediate and committed actions by the president-elect as soon as his administration kicks off. We believe in infrastructural development as a vehicle to meaningful and lasting transformation. It has remained a sure way, across the world, of fostering developments of all kinds. Physical developments associated with adequate and quality infrastructure creates the environment for other developments (economic, social, etc) to thrive. Thus,

we hope to see infrastructural developments in the following major areas discussed below. Housing Topmost on our classification of major areas of attention is housing. Housing shortage within the country still bites hard in many states across the federation. In Nigeria, we still record cases of people dwelling in ramshackle structures that cannot survive the mildest of storms. Studies have shown that the housing deficit in Nigeria is about 17 million and according to the Minister of Lands, Housing and Urban Development, about 2 million units are been added per annum to the existing housing stock by the government. However, this deficit is not static but increasing just as the population of the country. We believe what we need now is more realistic policies and pragmatic approaches to provide housing with ease of access to the people. This includes increasing the housing units as well as making them affordable to low income earners, and removing administrative bottlenecks in accessing land and processing of title to it. Many of the housing provisions by the government in the past few years were priced beyond the reach of the common man. In a country where the minimum wage is put at N18,000, how many would be able to afford a 2/3-bedroom flat of N15 million? Low cost housing has to

be really low in cost. Access to housing There are cases of estate entrepreneurs who wanted to build some 100 units of low cost housing for their employees at N4 million per unit. However, the good intention was scuttled by the bureaucratic bottlenecks associated with the process of getting the title to the land, development permit and the duration of securing them. All these obstacles must be removed if the deficit will be significantly reduced. A good housing policy framework would definitely solve this problem and it is time to fully involve the services of professional town planners in the process. Transportation The issue of transportation is just as salient as the issue of housing earlier discussed. Transportation can be likened to the blood in the body system. It is a link to every part of the system. More developed and efficient transportation system affords freer flow of economic development dividends across the land. Indeed Nigeria might be rated the largest economy in the continent, but this is yet to translate to economic value for the common man. It is on record that about 40 to 80 per cent of the income of most Nigerian workers is spent on transportation, with road being the dominant mode of

commuting. There is hardly any economic activity that does not rely on transportation. Now, road transport appears to be the major means for transporting goods from producers to consumers and this is not cheap. The poor condition of many roads and the long travel time due to traffic holdups hike transport cost which reflects on the cost of consumer goods. According to a study, about 50 to 60 percent of freight cost is gulped by road transportation. Most of the roads in Nigeria have been designed without detailed consideration of the axle load of vehicles it would bear which results in early dilapidation of many roads. It is either our roads are upgraded to accommodate the axle loads of trailers and trucks or alternative routes are provided for such heavy duty vehicles. There is need to review the transportation policy. A policy that would foster development and efficiency of other means of transportation, such as rail and water transport, is expedient at this time so as to take significant burden off the road. Only about 40 percent of the inland waterways of about 8,600 kilometres are used and the rail transport, which until recently experienced rejuvenation, is still grossly underutilized. • Adedire is the immediate past Chairman, Association of Town Planners Consultants of Nigeria (ATOPCON), Lagos Chapter

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

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Citizen Ososan must not die in vain

ight to life is a constitutionally guaranteed right of every Nigerian. But there are situations in which many compatriots have been denied this, especially by those mandated by the constitution to protect them from harm. It is not because these unfortunate Nigerians have committed any offence. Their only offence is that they are unfortunate. They are unfortunate because they are poor. This was the case of Mr. Olusegun Ososan, who died because of a mere N3,500. Ososan lost his life because he was poor and unable to pay N3,500 to get treatment at a government hospital. His case is more painful because, until his death, he was an employee of government working in the same health facility which refused to treat him for his inability to pay N3,500. According to reports, Ososan worked at the General Hospital, Ijebu-Ode, Ogun State as a gate-keeper. He fell ill on Friday, May 8 and was rushed to the hospital. However, he was returned home because of the inability to pay N3,500 required for hospital cards and some sundry expenses. He died later at home. The N3,500 fee was reportedly imposed by the hospital’s

management before treating any patient at the facility. According to the report, the late gate-keeper pleaded with the hospital management, promising to pay the money after he had been treated. But the management was said to have refused to listen to his pleas. What stopped the hospital from treating its own employee first and then deduct the money from his salary later? One may only wonder. Miffed by the development, staff under the aegis of Medical and Health Workers Union embarked on a protest which grounded activities at the hospital for almost five hours on Tuesday, May 12. Armed with placards bear-

Ososan lost his life because he was poor and unable to pay N3,500

ing various inscriptions, the protesting workers accused the management of insensitivity, saying it was unthinkable that such action was meted out to an employee of the hospital. Officials from the Ogun State Hospital Management Board led by Dr Isaiah Aiyegoro later went to the General Hospital to broker peace with the protesters. At a three-hour meeting held at the Iye Subomi ward of the hospital, union leaders accused the Chief Medical Director, Dr Adetola Ajoke, of high-handedness and inaccessibility. They also alleged that the cost of medical services at the hospital was higher than in any private hospital in the town. The Chairman, Ijebu Zonal Area of Medical and Health Workers Union, Oriade Bamidele, later disclosed that the meeting resolved that the policy should be reversed immediately. Though it is a good thing the meeting demanded a change of the obnoxious policy, it must not stop there. Citizen Ososan should not be allowed to die in vain; his family must be compensated. In addition, those responsible for his untimely death should be sanctioned to serve as deterrent to others in positions of authority with hatred for the poor. It is not only about the

Ijebu-Ode General Hospital, it is a common feature of most hospitals, particularly government-owned health facilities, across the country. Many Nigerians are allowed to die needlessly of preventable or treatable illnesses almost on a daily basis at various hospitals. Sometimes it is through negligence on the part of nurses, doctors and other healthcare providers. At other times, it is because of inability to pay money, sometimes as low as N1,000. There are many more Ososans buried across the nation, some in unmarked graves, in a country that has wasted so much resources on ghost projects and phantom contracts. Ososan’s death should also serve as a wake-up call on the Nigerian government. It is high time Nigeria began to run quality, efficient and affordable healthcare system that will not discriminate against the poor. Nigeria should and must be able to have a working health insurance. If everybody contributes to the insurance pool, some ailments can then be treated free, not minding the status of the beneficiary. This is what is done in developed climes. It is unthinkable that Nigerians cannot enjoy this in the 21st Century. Nigeria cannot afford to be different.

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WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Arts

Book Review

Literary enlightenment to improve students’ academic standards I t is quite a serious and alarming situation for the yearly woeful poor performance in literature and indeed other key subjects in WAEC examinations, which are usually written by Senior Secondary school students. In addition, the inability of some undergraduates and graduates alike to perform well in English Literature as a discipline is a deep concern if not shameful and worrisome. Therefore, the book Fundamentals of Literature-in-English is a welcome development and introduction into the educational mainstream in order to help prepare students offering Literature-in-English, to excel in examinations. Although, the book is only 58 pages, it is a thoroughly delightful and engaging book for students as well as teachers. It could help students to rediscover their understanding of Literature–in–English as a subject or discipline at any level. There are not too many good books that deal succinctly with the subject matter as Adjekpagbon treats it in the book. The book is written in a very simple and lucid language for easy understanding. The author takes its readers to the four walls of the classroom in the way and manner he deals with each topic. This clearly shows the teacher in him at work; perhaps the reason it is stated in his biography that, he has natural ability of teaching his course mates; hence they call him prof as a result of his ease and articulate way of explaining things (Page v). The author, in clear terms tackles each of the ten segmented topics in the book. The reader or student could understand the subject matter better from the roots by way of defining literature, as the authors uses

TONY OKUYEME Arts Editor tony.okuyeme@newtelegraphonline.com

various examples by stating that, “literature is not limited to printed matter alone but can be seen as any creative or imaginative work of art which could be language, music, emotions, text, etc.” While dealing with prose and poetry, Adjekpagbon takes the reader through the

seven types of prose such as, novel, novella, novelette, autobiography, autobiographical novel, apologue/fable and biography, respectively. The explanation of each of the aforementioned in very simple diction makes what many students hitherto refer to as very strange or difficult

Title: Fundamentals of Literature-in-English Author: Adjekpagbon Blessed Mudiaga Publisher: Bulkybon Publications Company Pages: 58 Year of publication: 2011 Reviewer: Matthew Ozah

to understand (poetry and prose) in literature easy and understandable. In the same light, the author treats poetry and its several classifications as well as drama and figures of speech which any average reader may not find difficult to comprehend. The book ends with what the author classified as General literary appreciation/ terms which he says are literary terminologies used in the three genres of literature. Adjekpagbon, painstakingly arranged these terminologies alphabetically in dictionary pattern, for easy location. The author has rendered great educational service by writing this book and it is commend-

able. What distinguishes it, if I may add, is the style that the author has chosen to adopt; he simply teaches as he writes and hopes that in reading the book, a reader or student who has been afraid of the subject can make up his mind to embrace Literaturein-English and love it. However, there are a few typographical errors noted in the book, but this does not in any way diminish the high intellectual faculty of the topics discussed in it, generally. It is packaged in a reader friendly manner, which students will find exciting and illuminating.

POETRIP Searching For Myself Oladipo Kehinde There is a way to the future I am searching for myself By being nice to others, Faith opens the window of my mind To the teaching of the day I am looking for an answer To question of life I am lost in my thoughts Where are we on the subject? I am searching for myself The answers are written on the face of the sun And what others have done I should have asked How they did it? I am searching for the treasure in my heart I am searching for myself With no guidance While I should have sing and dance For my home coming I am searching for myself In the library of books Reading everything from Aristotle to Plato Horace to Socrate I am a disciple of words I discover to recover That love can bridge the distance between us.

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

The Mega City

...EXCLUSIVE LAGOS MAGAZINE

Vehicles and motorcycles queuing at a filling station

The other side of fuel scarcity

It is not the best of times for Lagos business owners as the fuel scarcity bites hard on their businesses and profits. The scarcity, which has become a common recurrence in Nigeria, Lagos particularly brought about long queues at several filling stations, with several motorists wearing long faces. Interestingly, most of Lagos’ businesses make use of their generating sets for at least, eight hours daily. The scarcity of fuel, therefore, meant that businesses could not be run effectively. RUTH OKOCHA and IFEOLUWA IDOWU report

LIFE IN THE CITY Arresting the decay

MY CITY MY WORLD Justice will enhance change in Lagos – Olalekan 27

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

ined up like children and pushed around by fuel attendants, Lagosians stood on queues at many filling stations across the state just to purchase fuel. It is either for their businesses or for personal purposes. They didn’t mind the scorching sun as they were determined to purchase fuel at all cost. This has been the trend in every part of Lagos for weeks now. Perpetua Ezegwu, who is a roadside food seller, complained that the scarcity affected her most in the area of transport. She explained that transportation to places that usually cost N50 now cost N100 and N150, though this was not in all cases. On the cost of foodstuff, she explained that there has been a slight increase. “Of course, things are just a bit expensive more than before. For instance, rice that we used to buy N8, 500 now goes for N9, 200,” She said. Oluwatosin Shobiye, who owns a photography studio, lamented that she lost some customers because she was not able to get fuel on time to

Business has not been pleasant, we are not finding it funny

power her generator set. “That last week, I could not get fuel on time. As such, I was not able to work and there was no power supply. Somehow, I lost some customers. Luckily for me, my husband was able to struggle to get me about five litres.” She explained. Asked if she had increased the price of her services, she answered; “I can’t increase it, because even with the normal price, people are complaining. But with the fuel scarcity, business has not been pleasant.” For Seyitan Olamide, acting manager of Minimas Bar and hotel, located at Ojodu Berger, the scarcity of fuel is causing loss of profit. He explained that the business was being run at an expensive rate. “Concerning the fuel scarcity, we are not finding it funny presently; it is really affecting our business. Presently, we run the business on an expensive rate. Like before, we buy like 10 litres of fuel, that we use daily. Now we buy between N150 and N170 per litre, which is affecting us presently. And due to the increment of our business, we can’t just

put an increase on our prices. It is not easy right now.” He added that, “for now in Lagos, electricity is terrible.” A group of taxi drivers, who were seated at their park, beside Tecno filling station disclosed that some of them had stopped working since the beginning of the scarcity. They complained that it was not convenient for them to spend long hours at filling stations and not make profit from it. Wakili Atanda, one of the taxi drivers, who spoke with our correspondent, said that it was not just the scarcity of fuel that was a problem, but also the disparity of persons. “The problem is reducing now. I just bought at Oando, and they sold at a better price. The price has reduced and I did not queue there for too long. So, we don’t know if it could get better by tomorrow.” Atanda explained further that, “We had to increase our fares when the fuel became scarce and expensive. We started buying at N140 per litre. There was no choice but to increase the CONTINUED ON PAGE 22

Life | Mega City

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Business owners in Lagos lament fuel scarcity

Vehicles on a long queue at a filling station CONTINUED FROM PAGE 21

money so that everything would be balanced. Customers did not go away because of our prices. We did not lose customers though, we only receive much grumbling from them. Those that could afford it came, and those that could not went away to board buses. Sometimes, when we also buy fuel from black market, it is necessary that we add N200 or N300 to what we charge so that it won’t affect us much too. We can only pray for a saner situation as it is now.” Ayomide Adegbite, a vulcanizer, said that since the PMS scarcity, he ceased buying fuel from petrol stations. Rather, he buys from bus drivers because, petrol attendants refused to sell to him with gallons. David Okechukwu, a cyclist said, “the increment in fuel price is really affecting me because, I have to queue for fuel and when purchased, the price is on the high side. Since I get petrol at an exorbitant price, I also have to increase my charges in order to make profit.” Okechukwu also pointed out that the two filling stations in that area has connived to make life miserable for occupants and business operators owning to the fact that they don’t sell out fuel at the same time. If one is dispensing, the other won’t sell until the previous one finish dispensing.” Akinde Oluwafunmilayo, a stylist, stated that she is experiencing a hard time going to work because; she pays double the amount of transportation

unlike before. In her words, “I find it very challenging now buying fuel for my generator. My husband has to queue but sometimes we don’t get to buy. Customers too stopped coming but I’m sure they too understand the situation.” Ayobami Akinde, a staff of Star Times stated that, sales rate has dropped because, customers complain of inadequate power supply and now the sudden fuel scarcity. According to Ayobami, sales are not moving as before. In a statement, Golden Anderson, a food vendor, who travels to Cotonou to buy goods affirmed that the price of transportation has increased; he also mentioned that some of his friends who operate barbing saloons have closed up temporarily because of the scarcity and hike in fuel price. A visit by New Telegraph to Rainoil filling Station at Berger area of Lagos found the place empty with the fuel attendants absent at the fuel pumps. A man, who identified himself as the manager of the station, but who pleaded anonymity, explained that they were unable to operate due to the price of the fuel. “I think it is affecting almost everybody. You can see we cannot sell because DPR did not allow us to sell beyond N87, which is impossible because we don’t get it at that price. “For me, we can’t really say when this scarcity madness will end because we are not the ones in charge of the policies. The prob-

Consumers with jerry cans strugglling with vehicles to buy fuel at a filling station

This development gave room for touting and thicktraffic congestion

lem is not something we can actually address here,” he said. Another filling station along Agidingbi, area of Ogba, Lagos, was empty even though the fuel attendants were present. The fuel attendants were however sitting down and doing nothing and no customers and vehicles. But New Telegraph found out that the fuel station sold to those willing to pay N120 for a litre. The manager of the filling station was not at the station at the time of the visit. A phone call was made to him and he ended the call on the basis that he was busy and he promised to call back. He is yet to call as at the time of filing this report. Oando filling station at Ojodu-Berger however had a steady flow of customers as motorcyclists and motorists joined the long queue for PMS. The station at a point refused to sell fuel to people carrying kegs. It sold to its customers at N100 per litre. John Ugbatu, manager of the station said he cannot really say when the scarcity would end but promised that they would sell on availability. According to him, all depends on the Federal government and marketers who want deregulation. Also, some petrol stations

like YEREVAN, OANDO on Fagba road has been forced to shut down as people refused to buy at the new price and those willing to sell either sell to the black market vendors or sell to customers at the rate of N150 per litre. Some petrol stations allow buyers linger around with promises to sell fuel to them. This development gave room for touting and thicktraffic congestion. Eventually when they sell, they did at a very high price or they refuse to sell to customers with gallons. Considering the sudden hike in the price of petroleum, particularly fuel which is the aftermath of the refusal of the Federal Government to pay fuel subsidy, many businesses have suffered losses due to this, particular those who depend on fuel for their business to survive in a country where there is inadequate power supply like Nigeria. Many barbing saloons in Lagos have been forced to close business for some time because, of the scarcity and the high rate at which the filling stations were willing to sell. Lagosians too are groaning over the hardship of fuel scarcity as they have to pay double transport fare.

Life | In The City

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

L-R: Lagos State Governor, Babatunde Fashola, SAN (3rd left), cutting the ribbon to commission the LAWMA Solous 1 Material Recovery Facility, Igando, on Tuesday, May 12, With him are the Commissioner for Special Duties, Dr. Wale Ahmed (middle, behind), his Commerce & Industry counterpart, Mrs. Olusola Oworu 2nd right), Onigando of Igando, Oba Tijani Gbadmosi (3rd right), Managing Director, Lagos State Waste Management Authority (LAWMA), Mr. Ola Oresanya (right) and the Group Managing Director, First City Monument Bank (FCMB), Mr. Ladi Balogun (left) and Chief Operating Officer, WestAfrica ENRG, Lolade Oresanwo (2nd left).

The Factory Area with the newly installed Sorting Equipment commissioned by Gov. Fashola, during the commissioning of the facility at Igando

Fashola: Lagos no longer world’ s dirtiest city Muritala Ayinla

agos State Governor, Mr. Babatunde Fashola has said that Lagos is no longer the dirtiest city in the world, calling on the residents to generate more waste to enable the government recycle them for reuse and conservation. The Governor, who recalled that there was a time Lagos was rated as one of the dirtiest cities in the world, expressed joy that the reputation has been consigned to history while the city has acquired a new reputation of being one of the cleanest in the world. Speaking while commissioning a solid waste Material Recovery Facility in Alimosho , Fashola said that the new problem in the state now was how to get more refuse to run the factory. He added hat the first phase of a material recovery facility, was to recover solid waste materials, recycle them for reuse and conservation. With this, the Governor said, Lagos was only joining the rest of the world by having the recovery. He said: “The whole world is recycling, the whole world is reusing, the whole world is conserving. So nothing really goes to waste in any significant proportion. So that is what we are signing on, we are joining the whole world by having this recovery facility to recycle our wastes and turn them into wealth”. Governor Fashola said the expansion of the factory later in the year would usher in its next

phase where even more refuse will be needed in order to produce heat for electricity generation. According to him, “Lagos has moved from a state that could not manage refuse to a state that needs refuse”, adding that the factory will service 130 compactor trucks a day when it begins operation in a few months time. He assured that the building of the facility in the area would create employment for the residents of Alimosho, Igando Housing Estate, the General Hospital and the School of Nursing, saying that the Company CEO had said the factory would start the next phase by December this year. This, the Governor said, implies that the residents of the area might enjoy regular electricity supply from next year. The third phase of the project, the Governor Fashola said, would be composting and the production of fertilizer to maintain the lawns , parks and gardens and other green areas across the City that one industry that the greening industry now employs over 100,000 people. The Governor added: “It is an industry that was not there eight years ago, just like the Association of Waste Managers, it wasn’t there 15 years ago. So we have opened new frontiers, creating new economies that

Lagos has moved from a state that could not manage refuse

were not there before. But is one side of the story, the next side of the story will be Power, the next side of the story will be organic fertilizer and composting. The other sides to the challenge to the environment would be the development of renewable energy from solar panels made in Nigeria not imported from China.” Delivering his address, the Commissioner for the Environment, Mr. Tunji Bello, said that the establishment of the resource recovery facility was a demonstration of the state government’s resolve to foster a clean, healthy and sustainable environment for the well being of the citizenry. Bello, who was represented by the Special Adviser to the Governor on Environment, Dr. Taofeek Folami,commended LAWMA and West Africa Energy for the laudable project, which he said would be a reference point in solid waste management in the country. He further revealed that the MRF, when fully operational, ‘is expected to provide support to the manufacturing sector through the provision of waste off-takers such as plastics papers, metals etc, leading to reduction in cost of production and generation of employment to our teaming youths’. On his part, the Managing Director of LAWMA, Mr. Ola Oresanya said that completion of the MRF was a dream come true and thanked the governor for his support at all the

stages of the project as well as the host community for their cooperation, especially by permitting the use of their land for the purpose. The Chief Executive Officer, West Africa Energy Group, Mr. Paul O’Callaghan, while giving a brief on the project, said that the site where the facility was built used to be a borrow pit where piles of waste were dumped. O’ Callaghan said: “It is our mission at WestAfricaENRG that in partnership with Lagos State and the people of Lagos, that by 2020, zero waste will go to the landfill, helping to make Lagos the truly beautiful city that it is”. Mr. O’Callaghan said that the facility at full production would process waste from more than 130 PSP trucks per day, adding that the staff strength sourced from the local community would be increased from 120 to 350 personnel of skilled, semi-skilled and unskilled workers. Earlier in his goodwill message, the Group Managing Director, First City Monument Bank, Mr. Ladi Balogun said it was a great pride for the bank to be involved in the realization of the project. He said that the improvement of environment was a prerequisite for businesses to thrive and one of the reasons that informed the bank’s decision to support the project. He assured that FCMB ‘stands ready to support project of this nature’.

Life | Mega City

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Lagos set to demolish buildings

Officials at a demolition site

Muritala Ayinla

s part of the moves to transform the state into a safe, functional, tourism friendly and efficient Mega City, the Lagos State Government is set to embark on mass demolition of structures located on Right of Way, ROW. Hundreds of buildings are expected to be pulled down in areas such as Gaskiya College Road, Sari Iganmu in Apapa Local Government to pave way for the ongoing infrastructural upgrade and expansion of the roads to complement the Lagos Ibadan-Badagry Expressway and the Light Rail Project on the axis. To be demolished also are buildings located on the right of way along Orile-Badagry Expressway. Hence, residents in the communities like: Sari-Iganmu, Igbo Elerin, Abule Oshun, Gasikya Road and their suburbs might be rendered homeless following the partly and complete demolition their buildings found to be located on the ROW. The Government said the move was in line with the stake holders’ meeting held with the residents whose buildings fall within the right of way, calling on the residents with genuine claim and document to come forward rel-

evant documents for administrative purposes. Speaking with Ne w Telegraph, the Commissioner for Physical Planning and Urban Development, Mr Olutoyin Ayinde, a town planner, said the affected property owners had earlier been informed by the government on the need to remove their properties on the right of way. Ayinde said that apart from series of meetings held with the concern stake holders, government had also placed adverts in the media to remind the landlords who violate the Right of Way regulations of the existing road network. “The Government is calling on the general public to comply with the directive by moving out of the Right of Way of the existing road network. This is to pave way for the execution of the infrastructural upgrade and expansion of the roads towards completing the Lagos-Badagry Expressway with the intention of boosting integrated public transport system,” he added. Speaking on the buildings erected on the right of way along Lagos Badagry Expressway, Ayinde said the state government had carried out a public notice in the media and held meetings with the affected stake holders in March 2008 and

The state government is fulfilling her promise

December 2014 for the landlords to remove their structures on the right of way. According to him, “The state government is fulfilling her promise to transform the state into a functional and efficient mega city. The government is calling on the affected general public to move out of the 120 metres Right of Way. “This is to pave way for the execution of the construction of LOT 2A, Segment 3 from Abule Oshun to Igbo-Elerin into Multi-Lane Carriage road,with dedicated Bus Rapid Transit (BRT) and Light Rail Transit (LRT), both Public Transport Systems.” The Commissioner added that any member of the public who has any claim regarding the approvals and document for the affected buildings to present by Thursday 21st May, 2015. “The government is calling on the members of the general public that may be affected by this project to forward the following statutory documents, for record and other administrative purposes: Certified Registered title document of the properties within the right of way, approved building plan for the affected building with certified registered title and any other documents that may be relevant to the building ap-

Toyin Ayinde, Commissioner for Physical Planning and Urban Development

proval” The Commissioner also disclosed that plans are in the offing to design floating homes for residents of fishing communities in Makoko, saying the government was considering the prototype of the design. Ayinde said: “A non-governmental organisation, NLE has shown interest in the regeneration programme for Makoko Community. It has designed the prototype, floating School, at Makoko community. This administration is considering the prototype with a view to incorporating into its development plan for the community.”

Life | In The City

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

CCTV cameras in parts of Lagos

Ugly state of Nigerian Police van

Arresting the decay Banke Falade

hange, by the popular saying, is a continuous process of life. This, most Lagosians seem not to take into consideration. Experts are of the opinion that it is not too good to stop where you have made a new invention or innovation. You keep checking on the innovation, making sure it has no flaws or you work at making a better invention. You are not supposed to think that the innovation will last long because it is new. You keep sending in experts to check for faults and when needed, change the old and weary parts for new ones. This is what sustains change, maintenance after the innovation. The true test of government, it would seem is the combined ability to be innovative and to maintain the already established infrastructure. This maintenance culture seems to be something foreign to the Lagos State government. Yes, the transformation of Lagos State has blown away the mind of Lagosians. But, the maintenance hasn’t been anything to write home about. The once beautiful gardens have weeds intertwined with them; the fences meant to barricade the gardens are of no effect. The PSP vehicles-both the van and the mini ones are an eye-sour coupled with the foul odour oozing from them. The then newly acquired vehicles for law enforcement officers have so many dents on them to the extent that it cannot really be expected to function properly. Mostly Police vehicles are so rickety that some of the doors don’t shut properly, their tyres dangle on the road. Definitely, they can’t really chase criminals or any other law offender. The silencers of most of their vans ooze out terrible cascade of smoke. Folayemi Akintan, an architect said that in as much as it is

most probably the fault of these law enforcement officers, it is the duty of the government to survey its property and ensure that they are all in good shape. “It will save a lot more cost to service and ensure proper usage than to purchase new vehicles for these law enforcement officers.” The road networks in Lagos are poor; it would seem the Fashola administration focused on the major roads, and left the inner routes, the roads into homes. Tamilore Suileman complains of the road leading into Alves street around Lawanson bus stop, Surulere Lagos. “The road from Ojuelegba is smooth, with little potholes, but when you veer off into Lawason bus This maintenance stop, you will hate yourself. The road was at one time smooth. It culture seems to was tarred, but without proper be foreign to the drainage, the road got so bad. It was so bad that people put state government all the massive stones in them. These stones have made the road a nightmare. Without a drainage network around the street, anytime we make an attempt to fix the road, it ends up spoiling again. I get depressed whenever I’m going home; driving in a car is stressful. Taking a bike is worse. By the time the bike navigates through Lawason bus stop, you’d have so much body pain.” The drainage system in Lagos State is another thing to bring to limelight. The walls that are meant to dictate the channel for the water to flow have broken; the slabs meant to cover the drainage, that is, the ones that have slabs have caved in. Inside the drainage are filled with empty sachet of water, plastic bottles, paper, e.t.c. Martha Godwin spoke on how bad the drainage channels along Opebi-Allen road caused her vehicle to breakdown. It rained heavily that day; the roads were flooded. Cars had to stick to one lane because of the high volume Solar powered street lights of flood that day. “Let’s not even

talk about the Catholic Church road along Jibowu towards the barracks. When it rains! That road is a no go area. It’s almost as if the water has nowhere to go during rainy season. I have heard stories of it flowing into cars of people. That’s how high the water gets due to blocked drainage,” she said. The BRT buses are deplorable. The once new looking buses that got Lagosians excited to board them have been so poorly maintained that; doors are coming off the hinges, windscreens are out of place. Some breaking down in the middle of the highways, in most cases, they look very dirty in appearance. According to Segun Idris ,“I watched from afar as two buses started up along Ojota road, the amount of smoke that came from the exhaust pipe of both vehicles was shocking. Black and thick, those of us waiting at the stop coughed for several minutes. They struggled to start and struggled to move. They were overflowing with passengers. The state of the buses was nothing to write home about. Wipers of most of the buses are bad. The electronically controlled back doors of some are not functioning well. I vividly recall an incident when I was going to CMS, where the BRT pilot had to stop the bus in the middle of the road, to pour water into the engine or the radiator? ” Idris revealed.

SOLAR ENERGY The solar powered street lights are so dim and of little effect in lighting up the streets of Lagos especially at night. Talking to a consultant at VAPS International LTD, a Solar specialist, “the price of solar powered street lights varies. It depends on whether it is single, or double; the height of the traffic light from the ground and the degree of brightness which depends on the wattage of the bulb. The higher the degree of wattage, the brighter the light is. The shorter the height, the brighter the light is. We also consider where you want to install the traffic lights. Solar panels need little or no maintenance. It can last up to twenty years and above while the battery can last for three to five years. However, the bulb has to be changed every year. The maintenance done is to ensure that the face of the panel is always clean, as it might have gathered soothe.” While all this seemed innovative, and was meant to save a lot of cost. As it were, solar powered street lights are meant to shine as bright as the wattage will allow it with little or no cost of maintenance. But, the solar paneled street lights seemed not to shine, or even come on, instead of serving a purpose, they just beautiful or in cases where the street lights have tilted or bent causing an eye-sour. ‘I’m just speculating, but I believe the contractor that carried out the installation of street lights in Lagos imported finished products. Not taking into consideration the difference in weather, this affected the performance of the lights. For example, the peak sun hour in the tropic is more than that of any other region. The lights and panels were meant to have been manufactured here-or even if imported, tailored to meet the weather of Lagos state. This, I believe is the reason why the street lights are not performing like we would expect.” At Ikeja Electric distribution office. Upon enquiring on how pre-paid meters were maintained, sustained and the challenges of proper maintenance. The replied that prepaid metres require no maintaince so far it does not get burnt. “The pre-paid meter is meant to last forever, as far as it doesn’t get burnt. The card also is meant to stand the test of time except in a case where it burns or it is lost, then the party is to come into the office to purchase another one,” he said.

Police rickety van

Life | Mega City

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Artisan’s expectations from Ambode Giwa Olusegun

Animashahun Nurudeen, Cobbler

Habeeb - Aluminium Furniture Maker Salami

The new administration should address the issue of touts in the state: they constitute a lot of nuisance and the way they harass customers is unacceptable. Electricity supply should be made available because most of my machines here use power. I have to struggle to get fuel just to keep the work going. The prices of tailoring materials should be reduced to make life easier for us all. Lasisi Gbenga, Painter

Igbalaye Sodiq, Barber

The governor-elect should help improve the state of electricity supply. If there is electricity, everything will progress and more jobs will be created. Those people that have vocational job should not be lacking and suffering at all: they should earn and make a living. Agbabiaka Ademola, Fashion Designer

I only have problem with the electricity in the state. With constant power supply, there would be no need to depend on generator as alternative power supply before we are able to work. It’s been up to three weeks since our transformer’s cable was stolen, hence we are now at the mercy of generators, coupled with the stress of fuel scarcity. Therefore, I want the new administration to help improve the electricity.

The amount imposed by those that sell shoe materials to us is too high. The traders often complain about the tickets they pay-thrice daily, thereby inflating the price for shoe making. The amount we sold shoes then can’t be compared to what it is now. I want the new administration to help address the issue of the charges in the market so that things would be made easy for us. Lateef Adeola, Hairdresser

Tajudeen Salami - Welder

I want the new government to create jobs for the youth. Most of us suffered through apprenticeship. Most youths are jobless and this leads them to get involved in forced labour, cultism, armed robbery and so on, It’s not the choice of most people to be involved in crime but circumstances led them. They should also provide for adequate security, and address the issue of young children that hawk on the street.

The new administration should reduce the unemployment in the state and should also help those youths that are jobless by linking them with some of us. By this, unemployment will be reduced. The newly-elected governor should also help us with provision of loans and machines to motivate us. We can be made to pay back on instalment as it was done to the farmers and the taxi drivers. Abdulahi Oyejide, Cobbler

Tunde Olohunloga, Electrician

The outgoing administration has tried, but the new administration should be able to render assistance to artisans. This will help to motivate us. During the campaign, they promised to take us into consideration: any assistance they want to give to us should get to the grassroots.

The new government should help us improve the electricity. We need light to work smoothly. Even if the materials for our job are costly, we won’t be bothered because any amount we get them is the quotation we will give to our clients. Besides, the state government officials’ disturbance on the land-use charge and tax should be addressed, so that we, the grassroots people can have something good to say about government, and I hope all the promises before election will be fulfilled.

What I want the new administration to do is to make electricity available. They should also try to reconstruct the roads because many residents and customers complain about the bad roads. This discourages the people. The fluctuation in the prices of materials in the market should be addressed.

Ibrahim Agboola, Vulcaniser

Eletu Folashade, Fashion designer

The incoming government should improve the electricity supply so that we don’t depend on fuel. The issue of petrol scarcity is frustrating and also hindering our work. The economy of the state too should be improved while the cost of living in state should also be looked into. We spend more but earn less.

The issue of Kick Against Indiscipline (KAI) should be addressed. They disturb and exploit, but before election till now, they have not come around. I know it was because of the election. I hope it will remain like that. I also want Ambode to help to upgrade this work, by inaugurating a registration committee which will issue identification cards to members.

Life | In The City

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Our Expectations

Justice will enhance change in Lagos – Olalekan Stories by Ruth Okocha atti Olalekan, a lawyer is M excited about Akinwunmi Ambode’s emergence as the

Viewers at a viewing centre

Calming the rowdiness Segun Giwa

ootball showing centres have been a lucrative business in Nigeria and Lagos State in particular, because of the live football matches and other exciting things in the centres. Majority of football lovers prefer them to their homes, probably because of the teaming cheering and the excitement that accompanies the viewing. The English Premier League, LaLiga, Bundesliga, Seria A and UEFA Champions League, have the largest audience in the world but there are some fixtures that are more intriguing than the others like the derbies and the most in interesting of all, Real Madrid versus Barcelona popularly known as “ EL Classico”. The fixtures every week in these leagues make viewers visit the centres more compare to churches or mosques. Alhough, it has been there for quiet sometime now, it seems to become the in- thing now. Almost every available and comfortable corner has become a football viewing centre. In fact, most residents in Lagos are offering the front of their houses or a part of their frontal, shops or available space for viewing centres, for people to watch their favourite team play. Most of the centres can give there viewing audience the best view but can’t guarantee security for them and also the rate of noise and disturbances which most residents complain of. Some centres have managed to regulate the activities of their viewers but they complain of the losing customers because of rules that curtailed their freedoms. Mr. Johnson Kayode, a viewing centre owner, said, “I have some standard rules in my centre, such as, no alcohol, fighting, and smoking. None is allowed to touch any of my electronic devices and most of them comply with it. Those that can’t cope find other viewing centres.”

next governor of the state. But he’d rather want attention be given reformation to the judicial system to ensure that justice and independence Olalekan are true hallmark of judiciary in the state. “We have some powerful people in Lagos who always have their way because they have money, and because they are familiar with government officials. I am expecting a Lagos that is very neutral on any issue concerning it and as a result there will be all round justice. I’m expecting a Lagos where litigants will go to court, and lawyers and judges will be able to predict the outcome of the trial according to the constitution. From experience, we have some matters which ought not to be in court; and there are also some individuals who have been in police custody for years, awaiting trial but never got justice. I want the government to act promptly and accordingly concerning these issues. “The level of crime in Lagos has increased; boys are seen holding cutlasses and guns on the streets. These are instigated by politicians but if those practices are shunned by the present administration, then, Lagosians will be able to enjoy the megacity we are all clamouring for. “If there is justice in the new government, I believe everything will be perfect because it will affect our economy, education and all sectors of the state. Proper accountability in government will be ensured, knowing very well that if they embezzle the state funds, the law will hold them responsible. But if the new government cannot ensure an independent judiciary, change can never take place. “Lawyers face the challenge of unemployment: many qualified lawyers are wandering around, while some of our employers always want to underpay us. The NBA, which is supposed to protect the lawyers is after money. Once they collect money, they forget their responsibility. If the government enacts a law which legal practitioners must follow, I believe there will be proper coordination.

‘Government must have interest of the people at heart’ omrade Buna Isiak, is a Cwants human rights activist, who a Lagos that is equitable

Really, is it actually possible for a viewing centre to be devoid of the above mentioned factors, especially the cheering noise and arguments, typical of a football watching agitations? Also, the introduction of betting into the centres has not helped but damaged the social system. These betting companies do not allow under-age around 17years of age to place bets but majority of their agents don’t adhere to this rule and this has become an addiction to most people. Mr. Tunde Gboyega, said: “ It is a good thing that these betting is allowed because apart from watching my team play, it also allows me to make some money and this makes the game more interesting to me. Sometimes, I place bets on teams that are sure to win, which make this viewing centre a

place to be for me and my friends. “It makes the place lively and this place is spacious for such business. There is no dull moment here at all”. Gboyega added that, “this place never sleeps due to the crowd that patronise the centre” . Mr Adeyemi Tunji said, “Although residents here complain of the noise, the compound being too exposed and sometimes the fighting which I also don’t like. The spectators actions needs to be regulated due to their violent conduct during and after games and the government can help these centres implement some laws to avoid violence and lots more and maybe even register some of these centres before opening. Different centres have failed to regulate the act of their viewers, more because they also don’t want to lose their customer.

under Akinwunmi Ambode as the Isiak next governor of the state. “As a human right activist and as a human being, I want a Lagos that is secured. I want to see Lagos as a place where people can walk around or go to bed freely without fear of being harassed by anyone. “I want a Lagos that has a conducive environment where workers are not overworked and underpaid; a government that is capable of creating employment for its citizens and one that is able to create job security. “I want a government that can provide all the basic necessities of life which are food, clothing, shelter, security, good health facility to mention a few for the common man in the society. I want the new government to work towards the implementation of these things which has already been stated out in the constitution. “I expect a positive change from the abnormalities which are happening in the society now to when those with the real political interests to serve are elected. I expect a society where people are more politically conscious. Through the votes, we voted out some corrupt elements and this time around, we are moving further. I expect a government which is capable of upholding the interest and plight of the people above their own personal desire.”

The Mega City

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

MEGA CITY EVENTS JULIUS BERGER NIGERIA PLCâ&#x20AC;&#x2122;S INVESTORS RELATIONS FORUM was held recently AT IKOYI, LAGOS

L-R: Financial Director, Julius Berger Nigeria Plc, Mr. Wolfgang Kollermann; staff, Stanbic IBTC Pension Managers Limited, Mrs Eloho Onwah and Head, Investment Research, Mr. Charles Omoera at the event

General Manager, Legal and Logistics Services, NEST Oil Limited, Mr. Nnaji Igwe; Corporate Banking Group, Market and Infrastructure and Power, Union Bank Plc, Mr. Nnaemeka Ononiwu and Head, Corporate Banking Group, Mr. Maurice Phido PHOTOs: SULEIMAN HUSAINI

THE CHAIRMAN, TRANS-WORLD SECURITY SYSTEMS LIMITED, DR. ONA EKHOMU celebrated his 60th birthday IN LAGOS

Chairman, Trans-World Security Systems Limited, Dr. Ona Ekhomu (middle); his wife, Victoria; his family members; Maiden Ibru and Yeye Oge of Lagos, Mrs. Opral Benson cutting his birthday cake

The celebrant, Dr. Ona Ekhomu (second left); his wife, Victoria and friends at the event

UPCOMING EVENTS

FPG/COMMVAULT EVENT Organiser:FPG Technologies & Solutions Limited Date:May 21, 2015 From 4:30 PM - 7:00 PM Venue: Jade Palace Chinese Cuisine Ltd 61 Adeola Odeku Street Eti-Osa, Lagos 23401 Nigeria

Workout with Atarhe in Lagos, Nigeria! Organiser: TXFit Date: May 23, 2015 From 1:00 PM - 4:00 PM Venue: Banana Island Lagos, Nigeria

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

FCT Watch

Economic challenges before Buhari

The Investor

Money

Stock market as SMEs’ engine of growth

The return of merchant banking

Firm snubs FG over relocation of free trade zone

Maritime

Business What's news

Why Nigerian airlines pay more for aircraft lease, by experts

Experts have linked the difficulty of aircraft lease to Nigerian and African operators to poor safety record and inability of airlines from Nigeria to keep to their agreement to return the airplanes when their owner requires them.

p.30

Trade between Nigeria, France hits N127bn in two months Nigeria exported commodities valued at N127.3billion (euro 515million) to France between February and March this year, New Telegraph has learnt.

L-R: Company Secretary, Custodian and Allied Plc., Mr. Adeyinka Jafojo (representing Custodian Trustees); Chairman, Chief Michael Ade Ojo, Managing Director, Wole Oshin, at the company’s Annual General Meeting (AGM) in Lagos.

GROWTH Emerging results signal positive performance in the months ahead Chris Ugwu

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The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dele Alao

Industry & Agric Editor

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa

n spite of the volatile political and macroeconomic environment that have characterised the first quarter of 2015, seven Nigerian lenders released their unaudited 2015 first quarter (Q1) results, which showed significant growth in earnings and profits in the first three months of the 2015 financial year. The results, which covered the period January to March 2015, indicate that the banks witnessed significant growth across all financial indices with total profit after tax of N115.9 billion. The lenders are Zenith Bank Plc, Guaranty Trust Bank Plc, FBNH Plc, UBA Plc, Access Bank Plc, Sterling Bank Plc and Skye Bank Plc. Checks by New Telegraph showed that Zenith Bank led the top five banks with 17 per-

Finance Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Seven banks rake in N116bn in three months cent increase in profit after tax to N27.6 billion from the N23.6 billion recorded in the same period in 2014. Guaranty Trust Bank Plc followed with 15 per cent growth in net earnings for the first quarter ended March 31, 2015. In a filing with the Nigerian Stock Exchange (NSE), the group said its first-quarter profit after tax grew 15 per cent to N26.563 billion from N23.110 billion the same period a year ago. FBNH Plc posted a 41 per

N27.6bn Zenith Bank Plc beat other lenders by posting the highest first quarter post-tax profit of N27.6billion

cent increase in post-tax profit for the first-quarter ended March 31, 2015 to N22.6 billion from N21.6 billion the same period last year. Access Bank Plc posted 18 per cent increase in net earnings for the financial year ended March 31, 2015 to N13.688 billion, from N11.626 billion a year ago. UBA also grew its profit after tax by 35 per cent to N17 billion from N12.6 billion within the same period in 2014. Sterling Bank Plc’s profit after tax leapt from N3.1 billion to N3.9billion year-on-year. Skye Bank Plc’s profit after tax also rose to N5 billion during the review period compared with N2.7 billion achieved during the corresponding period in 2013. This depicts a rise of 85 per cent. Reacting to the performance,

Group Managing Director/ Chief Executive Officer (GMD/ CEO), Zenith Bank Plc, Mr. Peter Amangbo, assured stakeholders of a prosperous 2015 financial year. He said, “The year 2015 has high prospects of increased economic growth and development, following the successful conduct of general elections in the country. This scenario will present the group with ample opportunity to grow its clientele and business volume in Nigeria while consolidating on its gains from foreign subsidiaries.” Commenting on the GTBank’s financial results, Segun Agbaje, the Managing Director and Chief Executive Officer, stated :“A major focus for the bank this year is to strengthen market positions with distinctive customer propositions in chosen segments in order to

Rates Dashboard 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%

EXCHANGE RATE (BDC as at May 15)

USD . . . . . . . . . . . . . . . . . . . . . . N222 Pounds . . . . . . . . . . . . . . . . . . . N338 Euro . . . . . . . . . . . . . . . . . . . . N247.50

l Foreign Reserves – $29.786bn as at 14/05/2015

Source: CBN

EXCHANGE RATE (Interbank as at May 15)

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . . N301 Euro . . . . . . . . . . . . . . . . . . . . . . N214

Business | News

Why Nigerian airlines pay more for aircraft lease, by experts

RISING COSTS

With poor or often non-existent road and rail links, the focus is heavily on the aviation sector

Charter rental up by 40%

Wole Shadare

nent to trade means that Africa needs transport infrastructure to match its economic ambitions. “With poor or often non-existent road and rail links, the focus is heavily on the aviation sector. For example, air transport is the only reliable way of

xperts have linked the difficulty of aircraft lease in Nigerian and African operators to poor safety record and inability of airlines from Nigeria to keep to their agreement to return the airplanes when their owner requires them. Sales and Marketing Executive, Engine Lease Finance (ELFC), based in Ireland, Mr. Ciaran McClynn, disclosed this at the just concluded Air Finance Conference held in Johannesburg, South Africa. He noted also that the devaluation of the Nigerian currency (the naira) and lack of transparency on the lease, make it extremely difficult. The expert added that the situation had even led to high cost of lease granted most African carriers compared with their European or American counterparts. McClynn noted that the option for airlines wishing to finance the acquisition of aircraft (rather than just taking them on operating lease) was limited. He said: ‘An emerging middle class and the need for businessmen to travel across the conti-

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

travelling between Lagos, Nigeria’s financial centre, and Abuja, its capital city. An ageing fleet and poor safety records give rise to a clear and pressing need for additional aircraft on the continent,” he added. It was tough era for operators in the Nigerian

aviation sector as wary international aircraft lessors had in the wake of Dana crash on June 3, 2012 classified the country among “high-risk nations” for doing business. Due to the air mishap, which claimed the lives of passengers and crew

members, major aircraft leasing firms such as GE Capital Aviation Services (GECAS), International Lease Finance Corporation (ILFC), Cab Tree and Aercap, have raised lease on aircraft to Nigerian airlines by over 40 per cent and the trend has continued till date. Prior to the Dana ac-

cident, a B737-500, which was leased for $120, 000, now attracts $200, 000 monthly. For the new generation airplanes that are in high demand and popularly referred to as Next Gen (that is aircraft below 15 years), the lease, according to airline operators, has risen to $280,00.

L-R: President, Association of Consulting Architects, Nigeria [ACAN], Mr.Tayo Babalakin; President, Association for Consulting Engineering, Nigeria (ACEN), Mr. Temilola Kehinde, and Past President, Council for the Regulation of Engineering in Nigeria (COREN), Mr. Ebenezer Osoba, at a press briefing on sustainability of the architectural and engineering professions for the built industry through local patronage in Lagos. PHOTO: GODWIN IREKHE

Seven banks rake in N116bn in three months CONTINUED FROM PAGE 29

deliver long-term sustainable and efficient growth as well as strong shareholder returns.” FBNH Chief Executive Officer, Bello Maccido, said: “We expect improved traction from investments committed in the prior year to diversify revenue streams and enhance profitability. We will continue building a resilient business and drive efficiencies towards delivering sustainable returns to our esteemed shareholders.” On his part, the Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, noted that the bank’s financial performance in the first quarter of 2015 marked steady progress towards key strategic objectives. “Our focus remains on the delivery of sustainable value to our shareholders. We continue to deepen and broaden our top-tier corporate relationships whilst optimising and growing our diverse retail customer base to support low-cost liability growth,” he said. Group Managing Director

and Chief Executive Officer, UBA, Mr. Phillips Oduoza, expressed his satisfaction on the lender’s great start to the year, despite the uncertainties that characterised the Nigerian economy during the first quarter of 2015. “We witnessed what can best be described as a quantum leap in our profit and balance sheet drivers. Besides the significant growth in profits, I am also impressed by the six percent quarter-to-date growth in deposits and the low 1.6 per cent Non-Performing Loans (NPL) ratio, which reflects our prudence. It shows our focus on both profit drivers and risks within our operating environment,” Oduoza said. In Sterling Bank’s quarterly update to investors and analysts, Yemi Adeola, the Managing Director/ Chief Executive, stated: “Our first quarter performance was in line with expectations having recorded a 25 per cent growth in bottom-line earnings. This was driven by non-interest income, which rose by 32 per cent to N8.0 billion on the back of a 51 per cent increase in fees and commission.

Trade between Nigeria, France hits N127bn in two months DECLINE

Trade between the duo fell from $7.3 billion in 2012 to $6billion in 2013

Bayo Akomolafe

igeria exported commodities valued at N127.3billion (euro 515million) to France between February and March this year, New Telegraph has learnt. According to a trade data by Direction Générale des Douanes et Droits Indirects (General Directorate of Customs and Indirect Rights), Nigeria exported vegetables, hydrocarbons fruit, fish, crude oil and natural gas. Others are agricultural, silvicultural and piscicultural products as well as semi processed cocoa-based products.

Nigeria is a market where French companies have established a solid reputation by participating actively and successfully in the development of the local economy. France’s export to Nigeria are pharmaceuticals, vegetables, motor vehicles and equipment, sugar, wine, refined petroleum products, building materials, equipment and steel tubes. Exports from Nigeria to the country increased to 236 million euro in March 2015 from 219 million euro in February of the same year. The trade data noted that imports from to France averaged 296.75 million euro from 2014 until 2015, reaching an all time high of 448 million euro in July of 2014 and a record low of 180 million euro in November last year. It was also revealed that exports to Nigeria by France increased to 167million euro in March of 2015 from 139 million

euro in February of 2015. The trade statistics stated that exports to Nigeria averaged 133.75 million euro from 2014 until 2015, reaching an all time high of 227 million euro in November of 2014 and a record low of 90 million euro in December of 2014. As an emerging market, Nigeria is said to be second largest consumer of French wine with 849,000 litres of the drinks yearly. It rated among the top five consumers. However, in the last three years, trade between Nigeria and France, which reached the $7.3 billion mark in 2012, dropped to $6 billion in 2013 with exports to Nigeria put at about $2 billion. Nigeria’s exports to France during this period were valued at $4 billion. According to the report, exports of oil and natural gas was the main factor behind Nigeria’s growth and it accounted for more than 91per cent of the total exports.

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

FCT Business Watch With every likelihood that both the current fuel scarcity and dwindling revenues may endure beyond the May 29 handover date, it is certain that the incoming government has two tasks to urgently dispense with, writes ABDULWAHAB ISA

Economic challenges before Buhari to manage the cash crunch in the economy on month by month basis. She said that of the N882 billon budgetary provision for borrowing, the government had borrowed N473 billion to meet up with recurrent expenditure, including salaries and overheads. No fund yet disbursed towards capital projects in 2015 projects.

n less than 15 days from now, the President-elect, General Muhammadu Buhari, will assume the leadership of Africa’s most populous nation, Nigeria. Presumably, he is more agitated now than he probably was in weeks preceding the historic March 28 presidential poll. In his private sober moment, Buhari’s heart would have raced across the length and breadth of the nation’s economic spectrum, fathoming the how and where to find a solution to the endemic socio-economic problems he would be inheriting. Obvious agitations A previous president via a military coup in 1984, the Katsina-born president-elect is not entirely naïve to challenges that are ahead of him. Yet, he is more bewildered these days, following the depressing curve the economy has assumed with a few days to the handover date. Revelations by some respected individuals conversant with the state of affairs have confounded his view point on the economy. Clearly, the President-elect reckoned that there are immediate stumbling blocks requiring him to brace all odds to tackle. As he steps forward to assume control of leadership, he needs a prompt and immediate action plan to break the vicious circle of the oil subsidy cabal and devise a quick fix on the economy currently bereft of cash. Oil cabal monster Dismantling oil subsidy cabal with over N154 billion paid a fortnight ago to petroleum marketers as part of subsidy payment, the country is still deep in the threshold of scarcity of the product with over a balance of N200 billion. Many are passing their nights endlessly at filling stations in search of fuel that is not available. Developments in the downstream oil sector is at the behest of a tiny cabal up in arms against the government over oil subsidies payment that has defied several attempts to liquidate. The nation is being held by the jugular by a small cabal demanding payment for imported petroleum products whose actual verification is mired in a certain controversy. Efforts by the present government to end the current fuel logjam, which has persisted for over a month, have achieved little and it thus appears the subsisting government will pass over the

Jonathan

Buhari

cabal to Buhari to sort out. Lamenting the odds the cabal stacked on the outgoing administration of Goodluck Jonathan, the Coordinating Minister of Economy (CME) and Minister of Finance, Dr. Ngozi Okonjo-Iweala, in a interview with journalists two weeks ago, was short of doubting subsidy payment claims put forward by petroleum oil marketers. With N154 billion already paid by the government, the oil cabal insists N200 billion is still owed to them as outstanding. The minster said : “It has been very stressful for four years trying to cope with a group that controls a very important product of a nation and they are small enough to organise themselves. It means that they can hold a nation to ransom anytime they want. And that is what is happening.” Restructuring efforts The minister said: “The amount we have been paying yearly diminished to about N971 billion from N2.3 trillion of 2011. We brought it from N2.3 trillion to about N971 billion that has been in the budget each year. So, we made very substantial restructuring and changes to the whole process that brought the amount down for the nation. “But yet, we have to deal with this problem, a situation where we have a cartel that can ground the nation to a halt at will. I strongly suggest that the nation has to do something about it.” Apparently, major oil marketers pocketed the N154 billion paid them as part payment of their unpaid subsidies and recoiled. They are now anxiously waiting for the payment of outstanding N200 billion. No balance payment, no further import, so it seemed, gauging their absolute stance. Dire strait The 2014 Gross Domestic Prod-

We have serious challenges but we also have strengths and if we do the right things, we can keep a steady course

uct (GDP) rebasing ranked Nigeria’s economy the biggest in Africa region and 26th in the world. However, visible developments and the travails of the citizens under the present economy clearly contradict the picture of a robust economy. Both federal, states and local governments are currently facing the challenge of sourcing funds to pay their workers. The N4.9 trillion 2015 fiscal budget recently passed by the National Assembly awaiting president’s assent, is at best a mere figure on paper due to nonavailability of funds to execute some of its key provisions. Okonjo – Iweala was emphatic on the difficulties ahead in executing the 2015 budget. While presenting the budget highlights two weeks ago, she bluntly declared : “As you know, I have been honest with you since the current economic problems started. I would like to repeat: we have serious challenges, things have been tough since the beginning of the year and they are likely to remain so till the end of the year. We have serious challenges but we also have strengths and if we do the right things, we can keep a steady course and emerge out of the current situation.” In an uninspiring tone, the CME said the nation was faced with a 50 per cent drastic cut in revenue flow, a challenge the incoming administration would be inheriting. The nation for a part of last year had to contend with a very low revenue inflow from oil sources as a result of glut in supplies at the international oil market. According to her, as a result of the 50 per cent decline in oil revenues, the country is faced with a difficult cash crunch. She said the Federal Government had focused on keeping the economy stable by devising some measures to keep it running. This included, frontloading a borrowing programme

Workers as scapegoats The consequence of the cash strap has compounded the sufferings of civil servants working at federal, state and local tier levels. The monthly salaries are not only delayed, some state and local governments have piled up arrears of unpaid salaries. To drive home the frustration confronting government at all levels, governors on the platform of the All Progressives Congress (APC), during a recent visit to the President-elect, urged him to probe the individuals responsible for the inability of government to pay workers’ salaries. The Imo State Governor and Chairman, APC Governors’ Forum, Rochas Okorocha, made the request. He said that President Goodluck Jonathan and the Minister of Finance must take responsibility for unpaid salaries and the poor state of Nigeria’s economy. Okorocha decried a situation where state governments had found it difficult to pay workers’ salaries, maintaining that the President and the minister should own up to their mistakes. Expert’s opinion Economists, who have commented on state of affairs of the economy in different fora, have passed damning verdict and have also admonished the incoming administration on what to do differently to steer it from the ignoble path. A leading development economist and Director, Lagos Business School, Prof. Pat Utomi, advised the new government to steer clear of borrowing to finance recurrent expenditure. Conclusion The current fuel scarcity has held both the citizens and the Nigerian economy hostage due to ‘no payment no fuel import’ decision adopted by oil marketers. The president-elect therefore, has a delicate choice to make between pleasing the interest of a small group that has constituted itself into a cabal or finding alternative channel of making fuel available to masses. How he handles this delicate assignment is not the business of the masses. Aware of the huge economic challenges ahead, coupled with masses’ expectation of drastic change in the economy, Buhari has craved for bit of patience and understanding from Nigerians. He pledged to shift the focus from oil to non-oil sector, an area, he said, had the potential of creating huge jobs for the teeming youths.

Business | The Investor

Chris Ugwu

lobally, Small and Medium Enterprises (SMEs) are vital for economic growth and development in both industrialised and developing countries, as they play a key role in creating new jobs. But they need adequate financing to meet needs at each stage of their lifecycle, from creation through operation, development, restructuring, recovery and beyond. They also need to engage public and private institutions and turning their ideas into thriving business enterprises, which require funding. However, the interest rates from the nation’s commercial banks are either unaffordable or inaccessible to the average Nigerian living in both rural and urban areas. This has indeed helped to increase the level of unemployment, which the National Bureau of Statistics (NBS) last week put at 4,672,450, representing some 6.4 percent of Nigeria’s total labour force of 72,931,608 Stakeholders believe that if Nigerians have access to credit at below one per cent as it is in Japan and some developed countries, they would have closed the infrastructure gap in power, transportation and financial inclusion, among others. However, since the financial landscape of Nigeria is quite different from that of the developed countries, it has become imperative that financing assistance through the banks is not a reliable source of funding for SMEs, especially now that the Nigerian economy, which depends on oil for about 70 per cent of its revenue, is undergoing some challenges occasioned by the fall in price of oil in the international market. Moreover, the regulatory measures taken after the financial crisis such as rules on minimum capital requirements create additional challenges on the financing of SMEs through bank loans. Added to these are the regulatory headwinds that lenders have had to contend with. These have necessitated the need for diversified funding sources for SMEs. Currently, the share of SMEs financing through capital markets is rather below average in Nigeria, although the Nigerian Stock Exchange (NSE) offers an alternative long-term financing source. Governments and regulators have made efforts to promote the financing of SMEs through equity markets. In different parts of the world, SME markets have been established under the main Exchange or as separate Exchanges, where listing criteria and disclosure requirements are used. Some of these models failed, whereas some successful models were introduced in developed and emerging market countries. Private equity and venture investments can also be important tools for the financing of young and small enterprises. These investors usually not only finance the company, but also bring in expertise and know how. Venture investors may choose to finance such initiatives through the capital markets by issuing collective investment vehicles.

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Stock market as SMEs’ engine of growth

Trading floor of the NSE

The development of capital markets that SMEs can tap into is one of the policy challenges under the pillar of diversified financing modalities, which requires more sophisticated and innovative institutional arrangements in order to respond effectively to their real needs. Operational challenges Nigerian Small and Medium Enterprises (SMEs) like their counterparts in other emerging economies are perceived as a high risk segment of the market for banks when it comes to lending. Besides, unstable macroeconomic policies further make banks to be conservative about exposure to SMEs because of their higher failure rate. Although there are provisions for short-term loans they are, however, usually made available to blue chip companies (larger enterprises) perceived to be credit worthy. According to reports, even the previous public-sponsored financing programmes failed to make the desired impact due largely to high default rates. Few domestic equity sources for SMEs exist due to their inability to meet listing requirements. Despite the widely acknowledged role of SMEs in fostering economic growth and development, they have continued to face a variety of constraints. Some of the challenges include inadequate infrastructural facilities, shortage of skilled manpower, high rate of enterprise mortality, low level of entrepreneurial skills, lack of conducive operating environment, restricted market access and cumbersome regulatory requirements. However, the key challenge for SMEs is access to finance. SMEs, especially in developing countries, suffer from lack of access to appropriate funds from both

the money and capital markets. This is due in part to the perception of high risks resulting in high mortality rate of the business, poorly prepared project proposals, inadequate collateral, absence of verifiable history of past credits and lack of adequate historical records of the company’s transactions.

SMEs account for over 50 per cent of the volume of businesses transacted

Regulators’ efforts As part of efforts to revive the SMEs investment market, the NSE launched the Alternative Securities Market (ASeM) - a specialised board to accommodate small and mid-sized companies with high growth potential seeking to access the capital market. ASeM provides the opportunity for these companies to raise long-term capital at relatively low cost from the capital market, while creating opportunities for growth and institutionalisation of companies listed on the board. The board, which was specifically designed for emerging businesses, was expected to serve as a veritable platform for them to assess the capital market for longterm funding. Also, the board seeks to address major challenges of emerging businesses in Nigeria, such as difficulty in accessing long-term capital due to high cost of funds as a result of perceived high risk, informal nature of operations and inadequate accounting standards, controls and management of resources. The Chief Executive Officer, NSE, Mr. Oscar Onyema, said ASeM seeks to address major challenges of emerging businesses in Nigeria, such as difficulty in assessing long-term capital due to high cost of fund as a result of perceived high risk, informal nature of operations and inadequate accounting standards, controls and management

of resources. The former Director-General, Securities and Exchange Commission (SEC), Ms.Arunma Oteh, had said that the search for a solution to the funding challenges faced by SMEs would be successful if governments around the world turn to the capital market for such funds. Oteh said this on the sidelines of the annual meeting of the International Organisation of Securities Commission in Rio de Janeiro, Brazil, while calling on countries the world over to focus more on the development, as a way of creating more jobs and improving the standards of living of their citizens. She said : “I think first and foremost is the recognition globally about the importance of SMEs because they are the ones who create jobs. I think there is a greater focus on how SMEs can be supported.” Oteh explained that it was not just about providing access to funds, it’s also about ensuring that interest rates are low. She said, “We need to provide funding at reasonable cost. We need capital that is patient so that people can grow their businesses and banking finance is not patient. It is short-term, sometimes, particularly in the Africa and Middle East (region), the interest rates are relatively high. “What we need is capital that would be there for a longtime, a market-based finance that is longterm and there is a global recognition of that which is why some of the things we are focusing on at the meeting in Brazil, is really the value that capital markets bring to SMEs.” She said SMEs could be encouraged to list on Exchanges through the alternative securities market just like it is done in the United Kingdom. However, the efforts of the regulators to revive the sector have yielded little or no fruits, as few companies listed on the sector have remained in limbo. The NSE-ASeM index, the barometer that measures the activities of the sector, has remained flat at 1,213.52 basis points due to low level of patronage by investors, reflecting the depressive nature of the primary market, which serves as the SME’S window to the global investing community. Conclusion All over the world, SMEs are key to real sector’s growth. In advanced economies, SMEs account for over 50 per cent of the volume of businesses transacted. The NSE and other market regulators should step up efforts at creating the enabling environment that would reduce to minimum level the challenges faced by this segment of the economy. If Nigeria must grow the double digits in financial inclusion, there is need to encourage SMEs growth and provide all it takes for businesses to flourish in the country.

Business | Money

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Hurdles

Poor infrastructural facilities, bane of economic growth

Tony Chukwunyem

gainst the background of the widespread perception that the banking industry’s high interest rate regime is responsible for the poor performance of the country’s real sector, the Chief Financial Officer (CFO) of Sterling Bank Plc, Mr. Abubakar Suleiman, has blamed inadequate power supply and other infrastructural challenges for the sector’s woes. Speaking at an interactive session with journalists, he argued that various studies carried out on the issue have confirmed that high interest rates were not the biggest problem of real sector operators. He said real sector operators are struggling as a result of the high costs they incur due to poor infrastructural facilities in the environment, pointing out that the high costs make it difficult for the products and services of local manufacturers to compete against imported brands. The Sterling Bank CFO further contended that if high interest rates were the main reason for the poor performance of real

Interest rates not real sector’s major problem, says CFO Defends banks’ lending rates

sector operators, it would be logical to expect that those operators who did not obtain bank loans will perform better than others who did.

However, noting that this was not the case, he stressed that the real sector had almost collapsed because operators had to provide at great cost key

to infrastructure such as power, water and good roads. He said : “Finance is not the major problem of the real sector. There are

those who do not borrow yet they are facing the same issues as the others. To be competitive, you need to have economic infrastructure; power and

L-R: General Manager, Finance and Admin, Continental Durable Goods Limited, Akan Ekong; Brand and Marketing Manager, Inyang Ekere; Chief Executive Officer, Isaac Fumis; Mrs Bunmi Akpabio; Regional Manager, Diamond Bank Plc, Mrs Njideka Esomoju and Bishop Edoka Amuta, during the inauguration of the new Beko showroom in Lagos.

How to boost African trade, by AfDB, WEF

he African Development Bank (AfDB), the World Economic Forum (WEF) and the African Union Commission (AU) have suggested ways in which the Continental Free Trade Area (CFTA) project can be used as a catalyst to Africa’s economic development. The AU envisages a CFTA to be launched in 2017, which will create a single market for Africa, enabling the continent’s one billion people, goods, services and skills, to move freely, creating a larger, vibrant economic space for trade and investment. Speaking at a conference on the issue recently, Chief Infrastructure Economist and

Regional Integration Expert at the AfDB, Shem Simuyemba, observed that the bank was driving efforts to help address one of Africa’s most critical challenges, which is inadequate infrastructure to support Africa’s trade, economic integration and transformation. He noted that in 2014, the bank invested $6.7 billion out of which 60 per cent was in infrastructure. The bulk of these funds were in power generation and interconnectors in order to enhance power trade across Africa. “The bank’s interventions were intended to create the necessary economic infrastructure to reduce the cost of doing

business, and enhance the competitiveness of Africa’s intra-regional as well as international trade,” Simuyemba said. In his remarks, the WEF’s Patrick McGee, said, “This is the start of series of publicprivate sector consultations on key issues on Africa’s development such as the panAfrican CFTA leading to the WEF Africa Forum to be held in Cape Town, South Africa, on June 3-5, 2015.” Panelists were unanimous that the CFTA should not just be about trade in goods, but also address issues of trade in services, movement of skills across Africa and more importantly, industrialisation,

which should be a key pillar of Africa’s trade strategy. A number of key measures to support the CTFA were cited. These included new generation institutions such as an African competition commission; a continental arbitration mechanism; protection of intellectual property rights, and entrepreneur development and incentives with a special focus on young entrepreneurs. Also, local content development to support African businesses to be anchored onto and benefit from major investments taking place across the continent particularly in infrastructure was mentioned as another possible solution.

IMF, ECB, BIS publish Securities Statistics’ handbook

he International Monetary Fund (IMF), the European Central Bank (ECB) and the Bank for International Settlements (BIS), have jointly released the “Handbook on Securities Statistics.” According to a statement issued by the IMF, “The Handbook is a milestone in that it is the first publication of its kind dealing exclusively with the conceptual framework for

the compilation and presentation of securities statistics. Prepared jointly by the BIS, the ECB and the IMF working in close cooperation, the Handbook has also benefited from comments by experts from national central banks, national statistical agencies and international organisations.” The Fund noted that the importance of securities markets

in intermediating financial flows; both domestically and internationally, underscored the need for relevant, coherent, and internationally comparable statistics. It stated: “Good securities data, along with monetary and financial statistics, provide important indications on the level of diversification of financial intermediation. The Handbook supports

this analysis by strengthening the collection of securities data through conceptual advice and guidance to harmonise the presentation of securities statistics. It describes the main features of debt and equity securities as well as the institutional units and sectors as issuers and holders of securities, and discusses the statistical recording rules to be applied.”

transportation because whatever you produce, you must be able to move to the market.” Suleiman also noted that although lending to the real sector has increased significantly in recent years, the sector was still struggling for survival. He debunked the notion that banks unilaterally increased lending rates, pointing out that it is the Central Bank of Nigeria (CBN) that sets the benchmark interest rate. The Sterling Bank top official expressed optimism that the real sector would begin to perform better as soon as the country is able to effectively address the challenges of providing adequate power supply. Interestingly, during his tenure, former CBN Governor, Lamido Sanusi, also made similar arguments. For instance, at a forum in Lagos a few years ago, there was no empirical evidence in the country that proved that lowering interest rates would boost the kind of lending that was hoped for, especially for real sector growth. He said there was no empirical evidence to show that the real economy would get money simply because the rates of interest had been lowered, or that interest rates were the biggest challenge hindering the real economy. Sanusi, who is now the Emir of Kano, said, “The primary responsibility of the Central Bank is to provide stability. That of course is conducive to growth, so we need to work on the basis of evidence. There is no power, infrastructure, roads, no right skilled workers for the manufacturers, those ranks much higher. However, at a forum last Thursday, Lagos State Governor, Mr. Babatunde Fashola, lamented the high interest rates at which financial institutions lend money to Small and Medium-scale Enterprises (SMEs), stressing that it “is killing entrepreneurship.” The governor said the Federal Government should be committed “to reducing lending rate so that people can invest. In any society where it is easy to make money simply by saving, that society does not invest or manufacture. “That was why in the United Kingdom, it is 0.5 per cent interest. But here, if you deposit one million, you can get 10 per cent for doing nothing. So why will anyone like to invest? So, government must address those things,” he said.

Business | Money

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

The return of merchant banking After their near total disappearance in the wake of the financial crisis of the 1990s, the introduction of universal banking and the 2004/2005 consolidations in the industry, merchant banks appear to be making a return, Tony Chukwunyem writes

few days ago, one of the leading discount firms in the country, Associated Discount House (ADH), disclosed in a statement that it had been granted final approval for a full merchant banking licence by the Central Bank of Nigeria (CBN). According to the statement, the licence approval followed the divestment from ADH by Access Bank Plc and Wema Bank Plc, in line with the CBN’s directive to commercial banks on divestment from non-bank subsidiaries. Prior to the licensing of ADH, the CBN had in 2012 approved the applications of First Securities Discount House Limited (FSDH) and Rand Merchant Bank (RMB) to operate as merchant banks. They became the first two financial institutions to be so licensed under a banking categorisation policy introduced by the banking watchdog in 2010. Under the policy, the apex bank repealed universal banking guidelines introduced in 2001, which analysts believe played a major role in discouraging investors from setting up merchant banks. Although the banking categorisation policy pegged the minimum capital requirements for merchant banks at N15billion compared with N25billion for national banks and N50billion for international banks, it did not initially appear as if investors were eager to apply for a merchant banking licence, as the industry’s attention was mainly focused on commercial banks. However, it seems that following the commencement of operations by FSDH and RMB (even though the latter has applied for a commercial banking licence), in early 2013, the number of merchant banks in the country is set to rise in the next couple of months. Reason: more companies are reported to have also applied for the licence. FBN, Barclays Africa applications For instance, just before its acquisition by FBN Holdings Plc late last year, there were indications that Kakawa Discount House Limited, which applied for a merchant banking licence in December 2013, had been granted an approval in principle by the regulator to operate as a merchant bank. Interestingly, FBN Holdings

MD, FSDH Merchant Bank, Rilwan Belo-Osagie

had in June last year revealed that it was making arrangements to acquire a merchant banking license. The company’s Group Chief Executive Officer, Mr. Bello Maccido, had explained that it was diversifying into investment banking to enhance its project finance potential. He said the move would boost the company’s access to the fixed income and foreign exchange trading market segment as well as strengthening its funding base. Analysts said FBN Holding’s strategy in acquiring Kakawa is to merge the discount firm’s operations with FBN Capital to form a merchant bank. But the current interest in merchant banking in Nigeria is not only coming from local banks as Barclays Africa Group Limited’s corporate and investment banking unit announced last February that it had approached the CBN for approval to convert its representative office in Lagos to a full-fledged banking business. Indeed, according to the bank, in anticipation of the approval from the CBN, it has been increasing its presence in Lagos. The Head of Corporate and Investment Banking outside South Africa for Barclays Africa, Temi Ofong, was quoted as saying : “We have an ongoing strategy to expand our footprint and we have formally engaged the authorities in Nigeria to apply for licenses.” Analysts also cite Atlas Mara’s – the African investment vehicle of former Barclays boss, Bob Diamond - acquisition of additional shares in Union Bank of Nigeria (UBN) as further evidence that investors are optimistic that activities in the merchant banking segment of the financial market would pick up this year. Advent of universal banking, consolidation However, analysts contend that even though there is likely to be a significant increase in the number of merchant banks in the country before the end of next year, the situation may not exactly be like what obtained in the industry in the 1990s and just before the banking consolidation of 2005 when there were about 40 of these lenders in existence,

Mr. Bello Maccido

It is far less expensive to start a merchant banking operation than commercial banking

Mr. Temi Ofong

fiercely competing with commercial banks for market share. For instance, some of the notable merchant banks in the 1990s include, NAL Merchant Bank, Centre-Point Merchant Bank, Devcom merchant Bank, FBN (Merchant Bankers) and Stanbic Merchant Bank. Others include, Pacific Merchant Bank, Merchant Banking Corporation, Triumph Merchant Bank, Victory Merchant, Royal Merchant Bank, and so on. The bulk of these banks did not, however, survive the political and financial crisis of that period and by 1997, had been liquidated by the Nigeria Deposit Insurance Corporation (NDIC). Those that managed to survive soon faced another major threat in the form of universal banking, which was introduced by the CBN in 2001. This policy allowed banks to operate as one-stop financial supermarkets offering a diversified range of services and products in areas that were not core banking, such as insurance, mortgage and the capital markets. But because the diversification enabled banks to record higher rates of returns on some services, the policy put more pressure on the remaining merchant banks, most which in order to be able to compete more effectively quickly, applied for universal banking licences. In addition to universal banking, a key policy that clearly led to the absence of merchant banks from these parts was the banking consolidation exercise introduced by the CBN in 2004, which increased the minimum capital requirements for all banks to N25billion. As earlier indicated, the CBN’s reversal of the universal banking policy and the introduction of different minimum capital requirements for the various categories of banks appear to have left the door open again for merchant banks. Factors fuelling interest According to analysts, apart from the fact that at N15billion, the mandatory capital base for merchant banks is lower than the N25billion fixed for national banks, investors are applying for merchant banking licences because of the potential that they

can see in the Nigerian economy. In a chat with the New Telegraph, a Senior Financial Analyst at Fervid Assets Managers Ltd, Duncan Osagie, said:“Bob Diamond, Barclays Bank and so on, can clearly see the potential of the Nigerian economy. True, we have power, insecurity and other challenges, but the economy is still growing much faster than the South African economy. We also have a much larger population of the unbanked that they can sell their products and services to, so why won’t they want to establish banks here?” He pointed out that merchant banks had a major role to play in supporting corporate and trade financing in the country. Similarly, the Chief Executive Officer of Henates & Associates, Henry Atenaga, said : “It is far less expensive to start a merchant banking operation than commercial banking. You don’t need to open many branches unlike the commercial banks that would sometimes be compelled to open branches in places such as rural areas where they would be operating at a loss.” Commenting on discount firms which have applied for merchant banking licences, the financial analyst, pointed out that the transition to merchant banking would be convenient for them as they would have to only add investment banking to their other activities. But a top official of a commercial bank who asked not to be named contended that the new merchant banks would face stiff competition from commercial lenders. He said: “Most banks (commercial) have strong corporate units, which function like investment banks. So, it is basically the same type of customer that everybody would be targeting.” However, he admitted that merchant banks especially those owned by foreign investors would further boost lending in the country. “There is no doubt that the foreign banks have better access to capital than local banks. So, of course, it will be a positive development for the economy as a whole if they help to increase lending to the private sector,” he stated.

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Operators to FG: Stop road transportation of petroleum products p.36 Operator of the Lagos Free Trade Zone, LADOL Integrated Logistics Enterprises, has snubbed the directive by the President, Dr. Goodluck Jonathan, Federal Ministry of Transport and the Nigerian Ports Authority (NPA) that its company be relocated to Bayelsa State after investing N60 billion ($300 million), BAYO AKOMOLAFE reports

Maritime

Maersk Group declares $1.6bn Q1 profit p.37

Firm snubs FG over relocation of free trade zone lLagos to lose $500m investments

he management of LADOL Integrated Logistics Enterprises has declared that the directive by President Goodluck Jonathan, to relocate its company from Lagos to a remote area in Bayelsa State was ill conceived, diversionary and capable of destroying the gains made by the partners. The problem of the company started the same week the new Managing Director of the Nigerian Ports Authority (NPA), Prince Sanusi Ado Bayero, was asked to resume office. Jonathan’s directive to relocate the project was conveyed in two letters dated April 27, 2015 signed by Engineer AB Mohammed, a general manager at the NPA. The Managing Director of LADOL, Dr. Amy Jadesimi, said that the decision would affect the company’s partner severely. Loss forecast It was learnt that the movement of the company would made Lagos State to lose a $500 million investment in oil and gas as well as over 50,000 job opportunities The project, which has gulped $300 million, is expected to be completed in 2019. The two companies are expected to build fabrication and integration yards for the Egina Floating Production Storage and Offloading (FPSO) facility for the use of local and foreign-owned oil companies. Litigation Already, the Federal High Court in Lagos has granted injunctions to the company, restraining President Jonathan and other relevant government agencies, against earlier presidential directives that all oil and gas related cargoes could only be discharged at Intels’ facilities at Onne, Warri and Calabar ports. Also restrained are: the National Assembly, Federal Ministry of Transport and the Attorney General of the Federation and their agencies and privies. The court, presided over by Justice JT Tsoho, also granted LADOL the injunctions restrain-

Vessels and oil rig waiting for dry-docking at the LADOL base, Lagos pilotage district

ensure that all related agencies, including the Nigerian Ports Authority, must allow vessels and cargoes to proceed directly to any port of choice, including oil and gas cargoes. In addition, vessels from foreign waters can berth directly at LADOL Free Zone in line with LADOL’s Designation as a Deep Offshore Logistics base, permitted to receive two International vessels each week.

ing President Jonathan and his agents from ordering the relocation of Egina FPSO fabrication and integrations. Injunctions The injunctions further prevented the passing of the amendments to the Oil and Gas Export Free Zones Act which sought, among other changes, to: Impose a foreign owned monopoly on the movement of oil and gas cargoes in Nigeria, Transfer control of 12 Free Zones in Nigeria currently under the NEPZA Act to the control of the Oil and Gas Free Zone, which is controlled by the same foreign owned monopoly company. The injunctions granted are as follows: Injunction restraining the House of Representatives of the National Assembly from considering or passing the amendment of sections 1, 2 and 12(5) of the 1996 Act inserted by sections 2, 3 and 10 of the Oil and Gas Export Free Zone Act (Amendment) Bill 2013 passed by the Senate on May 7, 2015 pending the hearing and determination of the motion on notice filed by the Plaintiffs/ Applicants in these proceedings. The court also restrained the NPA from implementing the directive of President Jonathan that all oil and gas related cargoes must be discharged at one of Intels’ facilities at Onne, Warri and Calabar ports. According to Prof. Fidelis Oditah, SAN and Queen’s Council, who filed the action on behalf of LADOL, these injunctions

Vessels from foreign waters can berth directly at LADOL Free Zone

The project The project is currently ongoing at the Industrial Free Zone of LADOL situated at Takwa Bay, within the Apapa Pilotage District in Lagos, Nigeria. It is a joint partnership arrangement between LADOL Integrated Logistics Enterprises and Samsung Heavy Industries, Korea. It is one of Nigeria’s several 100 per cent indigenous companies operating in the oil and gas industry, its private investors built a green field swamp into a $500 million industrial village. An additional $300 million has now been spent building West Africa’s largest vessel fabrication and integration facility, which is on course to create 50,000 local jobs. The company is operational 24 /7 and is custom built to provide services for high value industrial projects, which range from deep offshore logistics support and vessel fabrication to electronics manufacturing and agricultural processing for exports.

The directive The letters, signed on behalf of the new Managing Director of Nigerian Ports Authority (NPA), Prince Sanusi Ado Bayero, reads: “Please be informed that Mr President has vide PRES/99/ MT/2/22 of April 20th, 2015 approved the FPSO project to be relocated to Agga in Bayelsa State when the facilities to handle such operations are developed. “In addition, the project can be conveniently located at any designated oil and gas terminal. Please be informed that Mr. President has approved that henceforth, all oil and gas related cargoes must be handled only in the designated terminals in Onne, Warri and Calabar ports. “In view of this, vessels coming to Nigeria with oil and gas related cargoes excluding petroleum products are advised to first go to the appropriate concessioned terminals to be cleared by the Customs and other relevant authorities, terminal operators and shipping firms.” LADOL’s fear However, Jadesimi explained that the directive was part of efforts to destroy potential local operators that were bent on deepening their participation in oil and gas sector. Jadesimi said that efforts were being made by oil and gas operators to build one of the biggest floating vessels in the world and make Nigeria the oil and gas hub in West Africa, adding that nothing would frustrate that effort.

Business | Maritime

IMPEDIMENT There is an overconcentration of oil tank farms in Apapa originally designed for port operations Bayo Akomolafe

eaport Terminal Operators Association of Nigeria (STOAN) has urged the Federal Government to suspend petroleum products delivery by road along the port access roads. It said that the grid-

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Operators to FG: Stop road transportation of petroleum products lock being experienced in Apapa was a direct consequence of system failure in the oil and gas industry logistics chain. The Chairman of the association, Princess Vicky Haastrup, who is also the executive vice chairman of ENL Consortium, operators of Terminals C and D of the Lagos Port Complex, Apapa, said that the only way to solve the gridlock was

to immediately suspend the lifting of imported petroleum products from tank farms by road. She noted that there was an over-concentration of oil tank farms in Apapa, an area predominantly designed for port operations. Haastrup explained that there was proliferation of oil tank farms without regard for the safety and logistics impli-

cation in the port areas. She stressed: “I issued a warning over five years ago advising government to discontinue tank farm operations in Apapa but nothing was done. The problem is now staring all of us in the face. “Port operations have been brought to a virtual standstill as a result of the chaos created by tank farms and oil tankers and it does not look like

anyone is doing anything drastic about it “We have a situation where over 10,000 tankers descend on Apapa daily and when you add this to the number of conventional trucks on routine maritime operations, it is not surprising that we have the kind of gridlock we are currently witnessing.” The chairman noted that there were about 60

tank farms operating in Apapa. She advised the authorities to immediately activate the use of barges in petroleum products evacuation. Haastrup said: “Petroleum products meant for the northern part of the country should be moved to Lokoja and Baro ports by barges while the trucks collect them from there rather than coming to Apapa. “Petroleum products meant for the South East and South South should be moved by barges to Onitsha Port, Warri Port, Port Harcourt Port and Calabar Port. The trucks then go to those places to pick up and distribute. “This is the way to go and this will immediately reduce the number of tankers coming to Apapa to a manageable number. “Ultimately and on the long run, the incoming government should get our refineries working to reduce the nation’s avoidable dependence on importation of petroleum products. The tank farms in Apapa must also be relocated to allow a breath of fresh air for port operation.” She said that port operators and their staff were worse hit by the gridlock, noting that the various operators had suffered substantial losses since the gridlock set in.

Rivers Port embarks on renovation

he Rivers Port Complex (RPC) has started the on renovation of its facilities to enhance productivity of workers. The renovation, according to a statement, include the standard security post at the main gate and old cloak building which now serves as an archive building for old files, audited vouchers and other old documents. Also, the management went a step further to renovate the long abandoned staff canteen located at the dockyard for workers use. The projects were initiated by the Port Manager, Mrs. Carolyn Akum Ufere, who used her wealth of experience as an administrator to draw the attention of the management in Lagos on the need to embark on the projects in order to enhance the productivity of workers at the Rivers Port Complex.

Business | Maritime

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Maersk Group declares $1.6bn Q1 profit DUOPOLY Over 95% of the world’s manufactured goods are controlled by few European and Asian shipping lines Stories by Bayo Akomolafe

he Maersk Group has declared $1.6 billion profit for the first quarter, despite a 10 per cent drop in revenue.

The results include $223 million gain on the sale of shares in Danske Bank, with 85 per cent ordered by AP Moller Holding, and seven per cent by other shareholders. As the oil price dropped, Maersk Oil’s profit fell from $346 million in Q1 2014 to $208 million in the first quarter of this year, and cash flow fell to $105 million from $734 million in Q1 2014. Also, profit at APM Terminals was $190 million, down from $215 million in the same period last year. Currencies weakening against the US

BPE clarifies concession of old Warri Port

he Bureau of Public Enterprises (BPE) said that it has the authority to concession any part of the Nigerian ports. In a release by the Bureau’s Head, Public Communications, Alex Okoh, in Abuja, the bureau said that the clarification was necessary based on the petition against the concession of old Warri Port Terminal ‘B’ by a group, Nigerian Ports Authority (NPA) Warri Port Stakeholders Forum. He said: “The petitioners alleged that the BPE is working with the Nigerian Ports Authority (NPA), Federal Ministry of Transport (FMoT) and office of the Vice President to concession the terminal to their cronies.

“They further alleged that the BPE’s action is illegal as they are usurping the powers and functions of ICRC.” The group urged the presidency to stop the BPE or else the petitioners would take up the matter with the incoming administration or resort to legal action, he said. “However, we wish to further clarify that NPA is listed in the BPE Act of 1999 as amended and therefore NCP/ BPE has the full powers to handle and conclude the transaction,” he noted. BPE, had in July 2014, placed adverts in some selected dailies requesting for Expressions of Interest (EOIs) for the Concession of old Warri Port Terminal ‘B’.

ANLCA orders members to shun council’s fee he National Executive Coun- according to him, include the T cil (NEC) of the Association association’s former Presiof Nigerian Licensed Customs dent, Chief Ernest Elechukwu; Agents (ANLCA) has ordered its members to shun the directive by the Council for Regulations of Freight Forwarding in Nigeria (CRFFN) over payment of practitioner’s fee. It is another fresh round of face-off between the two groups in the port industry. The association’s National Publicity Secretary, Dr. Kayode Farinto, said that the NEC, the highest decision making body of the association, had also suspended any further discussion between the association and CRFFN until further notice. He noted that the ANLCA would resist attempt by CRFFN to introduce levy that would increase cost of clearing goods at the ports. Farinto noted: “NEC has constituted a committee to interface with the management of CRFFN to come up with recommendation towards further engagement. “The committee is empowered by NEC to discuss, negotiate and take all appropriate steps towards ANLCA’s professional interest.” The committee members,

Chief Peter Obi; Prince Taiye Oyeniyi; Mayor Ekweche; David Kanikwu; Bayo Oyekanju; Alhaji Umar Ibrahim and Kayode Farinto. CRFFN had last week said that it would start the collection of practicing fee from customs brokers and freight forwarders from May 11, 2015. In a public notice, the council said: “In exercise of the powers conferred on the Council for the Regulation of Freight Forwarding in Nigeria under section 4 (d) and 6 (2) (C) of the CRFFN Act No 16 of 2007, notice is hereby brought to all registered freight forwarders, all seaport terminal operators, all airports cargo terminal handlers and the general public that the collection of practitioners fee by the council commences on Monday May 11, 2015.” Meanwhile, ANLCA had said it would advise its principals to divert their cargoes from NAHCO to other warehouses at the Murtala Muhammed International Airport should NAHCO proceed with the 30 per cent increase in its cargo handling charges.

dollar affected results, with oil-dependent markets also returning lower revenues as the oil price slumped. Maersk Line reached a record result for the first quarter, with a $714 million profit. Also, the business unit, which includes Maersk Supply Service, Maersk Tankers and Svitzer, saw an increase in profit to $94 million. Maersk Supply Service and Maersk Tankers both reported significantly improved profits, enough to counter a drop in profit at Svitzer and a loss at Damco. The group’s Chief Executive Officer, Mr. Nils Andersen, said: “All businesses affected by low oil prices launched cost “in a quarter impacted both by low oil prices and low economic growth. The underlying profit increased by 18 per cent to $1.3 billion, mainly driven

by Maersk Line, Maersk Drilling and APM Shipping Services. “Based on the performance in Q1, the Group now expects an underlying result of around $4 billion for 2015.” Meanwhile, the shipping line has completed an order of 10 container megaships from Korea’s Daewoo Shipbuilding & Marine Engineering Company worth more than $1.5 billion. The ships will be delivered in 2017. It will be the first time since 2011 that Maersk Line, a unit of the Danish shipping and oil conglomerate, A.P. MollerMaersk A/S, returns to the market for ships of this size. Before the latest order, it has placed an order with DSME for 20 Triple-E ships, which carry in excess of 18,000 containers each.

The last two vessels from that order would be delivered to Maersk by July. It was learnt that the new order - likely six firm ships and four options - would be announced in coming weeks and deliveries will start in 2017. The ships will likely be deployed in the Europe-to-Asia trade loop as part of Maersk’s 2M alliance with the Swissbased Mediterranean Shipping Company. Container shipping, which moves more than 95 per cent of the world’s manufactured goods, is largely controlled by about a dozen European and Asian operators. Those companies have come together over the past year to form alliances that substantially cut operational costs through the sharing of vessels, trade networks and port calls.

Some containers being discharged from a vessel at the Lagos Port Complex, Apapa for cleaance

FG issues maritime varsity licence to NIMASA

he Federal Government has approved the Nigerian Maritime Administration and Safety Agency (NIMASA)’s Maritime University at Okerenkoko in Warri South-West Local Government. The Director General of the agency, Mr. Patrick Akpobolokemi, dropped the hint in Abuja after the Federal Executive Council (FEC) had granted approval for the operation of the Nigerian Maritime University in Abuja. He said that Nigeria would soon begin to export seafarers to other countries. Akpobolokemi explained that with the coming on board of the institution, Nigeria would be saving foreign exchange hitherto being used in training seafarers abroad. In a release by the agency’s Deputy Director, Public Relations, Mr. Isichei Osamgbi, the director general noted

that the seafarers trained in the university would be exported to other countries. Akpobolokemi explained that the university would run courses in marine engineering, naval architecture, nautical science, transport technology and other maritime related fields at degree and sub-degree levels. “This formal approval of the licence will signify a major milestone in the agency’s capacity building initiatives as it will guarantee sustainable training of qualified manpower for the maritime industry at international standard,” he said. Following the licence issued by the Federal Government, he explained that the university was set to commence academic activities at its fully developed temporary site in Kurutie, also in Warri-South West Local

Government Area. Akpobolokemi recalled that the groundbreaking of the institution, as well as the NIMASA Shipyard and Dockyard in Okerenkoko, was conducted by President Goodluck Jonathan in May 2014. He noted that the agency had remained committed and focused in building human capacity for the Nigerian maritime sector through strengthening the Nigerian Seafarers Development Programme (NSDP), a scholarship programme designed to train young Nigerians in various maritime professions at degree level. The director general said that the NSDP had over 2,500 beneficiaries in academic institutions in Egypt, India, Philippines, Romania and the United Kingdom; a number of whom have since graduated.

WEDNESday, MAY 20, 2015 NEW TELEGRAPH

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Chief Host, Plateau State indigenes in Lagos, Chief Pam Botmang (left), with the state’s Governor-elect, Mr. Simon Bako Lalong, at a dinner in honour of Lalong in Lagos.

L-R: Permanent Secretary, Ministry of Agriculture, Ogun State, Mr. Lanre Bisiriyu; Commissioner for Agriculture, Mrs. Ronke Shokefun; a beneficiary of poultry production grant, Mrs. Elizabeth Oyelude; General Manager, British American Tobacco Nigeria Foundation (BATNF), Ms. Abimbola Okoya and Head of Litigation and Intellectual Property, Mrs. Odiri Erewa-Meggison, at the presentation of certificates for the poultry production training for women poultry farmers in Ogun State.

L-R: President, Change Women Association, Mrs. Maryam Alexander; Organising Secretary, Alhaji Abdullahi Buba and Treasurer, Hajia Hajara Ahmed, at the association’s news conference in support of Hon. Dogara Yakubu to contest for the post of the Speaker, House of Representatives, in Bauchi.

Programme Director, Directorate of Technical AID Corps, Mrs. Oladele Abiodun (middle), addressing volunteers to Rwanda, before their departure to Rwanda in Abuja. PHOTO: ELIJAH OLALUYI

Photo | News 39

L-R: Chief Executive, Stanbic IBTC Stockbrokers Limited, Mr. Oladele Sotubo; Chief Executive Officer, Stanbic IBTC Holdings Plc, Mrs. Sola David-Borha; Executive Director, Business Development, Nigerian Stock Exchange (NSE), Mr. Haruna Jalo-Waziri and Executive Director, Technology, Mr. Ade Bajomo, at the corporate challenge race against cancer in Lagos.

Public Affairs Manager, Lagos and West, Nigerian Bottling Company (NBC) Limited, Ms. Ifeoma Okoye (left), receiving the Lagos State “Category A” CSR award for NBC from the Commissioner for Education, Mrs. Olayinka Oladunjoye, during the presentation of the award in Lagos.

Parish Priest, Saint Cyprian Catholic Church, Rev. Father Austine Nnaemeka (left), presenting an award to the leader, Catholic Women Organisation, St. Jude Thaddeus Society, Promoter, Sacred Heart of Jesus and Immaculate Heart of Mary, St. Monica Catholic Church, Mrs. Joy Omovudu, at the Lagos Archdiocese Council of Catholic Women Organisation’s day in Lagos. photo: tony eguaye

A vehicle packing the properties of a member of House of Representatives from his official residence in Abuja.

40 Politics

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Jonathan, Senate part ways over constitution amendment C O N T I N U E D F R O M PA G E 1 7

one arm of the government to stop another arm of government from performing its duties. The Supreme Court cannot stop us from legislating and if they say that the Supreme Court is stopping us from making laws, it is misleading and it amounts to misreading the powers of the Supreme Court.” Plot to override veto On Tuesday last week, May 12, the aggrieved Senate, in its resolve to override Jonathan’s veto, attempted to re-introduce the Bill by enlisting it on the Order Paper for First Reading. However, there was a dramatic turn when the Senate Leader, Ndoma-Egba, moved that the Bill be stood down till another legislative day, and no reason was given for the action. New Telegraph’s inquiry showed that there was disagreement amongst the senators. It was learnt that while some of the lawmakers were in total support of the override plan, others advised the leadership of the Senate to be cautious in rushing to take a decision that might be injurious to the interest of the nation in future. The senators, who were reportedly opposed to overriding the President’s veto, had warned that the Senate should not involve itself in any action that would not yield positive development at the end of the day. The Deputy President of the Senate, Ike Ekweremadu, who presided over the session that day, however, invited all the senators to a closed-door meeting in the National Assembly the following day, so that the issue could be holistically considered in order to take a firm position on it. Senate backs down Fortunately for the nation, the Senate on Wednesday, rose from a two-hour closed door session and resolved to back out of its earlier plan to override President Jonathan’s veto on the Fourth Alteration Bill. The upper chamber warned the executive not to take the legislative arm of government for granted by doing things that would undermine the independence, integrity and constitutional powers and responsibilities of the legislative branch. The Senate also said that it would challenge the ex-parte order by the Supreme Court. Mark, who disclosed the resolution of the Chamber on the matter during the executive session, noted that the Senate, being a mature and highly respected legislative house, decided not to do anything that would bring negative consequences on the democracy and the people of Nigeria, and would therefore, respect the Supreme Court order on the amendments to the Constitution. He, however, cautioned the executive not to take the National Assembly for granted, saying, “as we finished our discussion, I think it is proper for me because of the importance of the issue, to make

Ekweremadu

a very simple, straight forward, unambiguous statement. We are lawmakers and we will not be lawbreakers. We are not just lawmakers, we are very senior responsible citizens and very senior lawmakers and this is the apex of lawmaking in this country. “Therefore, on the issue of the current constitution review that is before the Supreme Court, we want to assure Nigerians that we will not break any law in this country. We will take appropriate action that will ensure that democracy survives but I will also want to warn that we should not be taken for granted by the executive; but once more let me assure Nigerians that as lawmakers, we will not be law breakers.” Ndoma-Egba, at a press briefing after plenary, said that the action of the was done in bad faith, and noted that the National Assembly would challenge the matter in court as quickly as possible. “We have legal option and the legal option is to vigorously challenge the order of the court which was made exparte, it was made without us being put on notice. I believe we can get the court to quickly determine that and we intend to pursue that option. We should expect this legal challenge as soon as possible.” He expressed concern that the executive had all the opportunities to raise observations or make contributions to the amendments at the level of public hearings conducted in the six geo-political zones of the country, lamenting that the National Assembly was practically ambushed on the matter. “The hearings were open to the public at large including members of the executive; the executive was very strongly represented. It is at those hearings that you are supposed to highlight your reserva-

Adoke

tions or your concerns about each of the amendments. They did not use any of those opportunities provided by each of these public hearings only for us at this point when the Houses of Assembly had passed the amendments and we are to conclude that we are suddenly confronted with this ambush. We think it is in bad faith and it is regrettable.” The Leader further expressed dissatisfaction that the National Assembly was not put on notice in the order given by the Supreme Court, saying that the lawmakers had to abide to be seen to be obeying the laws of the land. “We are lawmakers not law breakers; if you look at the 1999 Constitution, the jurisdiction conferred on the Supreme Court did not include this kind of situation where one arm of government is having an issue with another arm of government. “That jurisdiction was conferred by an Act of the National Assembly in 2002, which means it is a jurisdiction that we voluntarily gave to the Supreme Court and because that jurisdiction came from us, we must be seen to be obeying the laws of the land. “The constitution has given the judiciary the power to adjudicate in situations like this and the matter is before the judiciary, we acknowledge that. So, the best way out is to pursue that order and vigorously pursue its being set aside and that is exactly what we are going to do immediately,” Ndoma-Egba said. Again, Ndoma-Egba posited that President Jonathan did not return the copy of the Alteration Bill sent to him as requested by the Senate, speculating that the President had signed the Bill into law before changing his mind to veto it.

“There was a resolution taken on the floor of the Senate that the Bill should be returned. That resolution has been communicated to the President and Commander-inChief and up till now we have not gotten back the original. We have our suspicions why the original has not been returned, our suspicion is that it had been signed,” he said. Also, on the allegation that the National Assembly did not meet Four-fifth constitutional requirement for the passage of the Alteration Bill, Ndoma-Egba argued that the apex legislative Assembly met this condition, saying that the records were available to confirm the claim. He said: “On the issue of fourfifth, it is not correct, our records are very clear, the votes and proceedings are there and we have gone through the records again and we certainly met the constitutional requirement of four-fifth. The Attorney General who is alleging that we did not meet that constitutional requirement has not exhibited any document to show that we did not, but from our records we clearly did.” From what has happened so far, it is now evident that the Senate has surrendered to the rule of law to take its course in the contentious matter of constitution amendment. This choice, even though it might be hard to make, has saved the polity from being heated up as Nigeria transits to the next government on Friday next week. It is a lesson for all Nigerians and indeed the operators of our democracy, to allow the law to rule in the affairs of the country, no matter how injured we feel. This way, the democracy stands a better chance to mature and develop rapidly. Then, the desired change will come for the benefit of all.

Politics 41

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Yari

The 2015 governorship election in Zamfara State may have come and gone, but the pathway to the re-election of Governor Abdul’aziz Abubakar Yari re-echoes the correlation, if any, between politics and family ties. WALE ELEGBEDE and IDRIS SALISU report

he ascension of Governor Abdul’aziz Abubakar Yari as governor of Zamfara State in 2011 was theatrical and very competitive by all standards. As a member of former Governor Ahmed Sani Yarima conclave, he was presented as the candidate of the now defunct All Nigeria People’s Party (ANPP) to vie against another former member of the caucus, Alhaji Mahammud Shinkafi, who is his father-in-law and a sitting governor at the time. Shinkafi, who was a deputy governor under Yerima, became governor in 2007 by taking advantage of the cult followership of his former boss to win the election, defeating the PDP governorship candidate, Malam Yahaya Abdulkarim, who is a former governor of the old Sokoto State. The political renance between (Shinkafi) and his political godfather, Yerima, ended too soon after he (Shinkafi) took over the reins of power and when the centre could not hold any longer, he swiftly defected to the Peoples Democratic Party (PDP) in 2008. In the wake of their disagrement, Shinkafi was said to have removed Yarima’s brother, Bello Mohammed Sani from his stool as Emir of Bakura in 2010 for alleged misappropriation of emirate’s fund and disloyalty to the state government. Similarly, it was al-

Shinkafi

Yerima

Flogging an in-law twice leged that Shinkafi was the one that fanned the issue of ‘underage bride’ that Yerima was accused of that time. Having a feeling of being betrayed by his former ally, Yerima swore to high heavens that his one-time deputy would not return to the Government House for a second term. Just as he was pursuing his second term in the Senate, Yerima was bent on sending Shinkafi into political oblivion. He then went to town to shop for a candidate for his ANPP, and he got his joker in Yari, who was at the time the lawmaker representing Anka/Talata Mafara Federal Constituency in the House of Representatives and a son-in-law to Shinkafi. Prior to the election in 2011, Yerima said: “We served together for eight years. In those times, I condoned lots of his excesses not because I didn’t want to take action against him, but because in life one has to learn to accommodate different views, different people and different opinions. “I believe the governor (Shinkafi) is being misled by some of his aides who stand to benefit from the situation. Some of the people want contracts, others want to get political patronage by being members of House of Representatives or Senate and others simply feel that they can only be relevant if Yerima and Shinkafi continue to quarrel. That is why they keep misadvising the governor. So, it all boils down to what some people will gain.” Shinkafi also lashed out at his former boss, saying, “I don’t think I have any problem with him (Yerima). Since my election, I have heard and read various things said and written about my relationship with him. I consider him an important part of my household. Everybody knows how we started this journey together. As far as I know, I have no problem with him, and I think he knows that. Since the so-called crises began, never have I issued any statement condemning him

Let me give my father-inlaw and PDP gubernatorial candidate a last warning that henceforth he will be held responsible for any violence

or saying uncharitable things about him.” With the backing of Yerima, Yari defeated Shinkafi in 2011 and he chose to stick with his political godfather rather than reconcile with his father-in-law. He, alongside Governor Gabriel Suswam of Benue State, were the two members of the House of Representatives who became governors. Ahead of the 2015 elections, the related political foes resumed hostilities and the political terrain got heated up as Governor Yari was on course to achieve what his father-in-law couldn’t do in 2011– securing a second term. In the build-up to the election, tempers flared up from both camps as the relation ties between the APC candidate, Yari and Shinkafi were thrown to the bin all for the soul of Zamfara State. At one of the campaign rallies in Gusau, the state capital, the governor threatened to arrest Shinkafi, his father-in-law if he does not call his supporters to order against attacking APC supporters and destroying the party’s billboards and outdoor campaign materials. He said: “Let me give my fatherin-law and PDP gubernatorial candidate a last warning that henceforth he will be held responsible for any violence recorded during his visit to any local council of the state. As the chief security officer of the state, I will make sure that my father-in-law faces the wrath of the law instantly after the incident. “I will like to remind you that I am the chief security officer of the state and if you feel I am joking allow your campaign team to cause violence in the next local council visited and you will see how I will direct security personnel to arrest you.” However, reacting to the statement, Shinkafi described the governor’s claimed as baseless, unfounded, and was informed because of the PDP popularity in the state which he (Yari) believes will consume his ruling party dur-

ing the general elections. He said there was no record of violence either in Zurmi or in Shinkafi towns during his campaigns in the two local councils, except at Moriki where vigilante group members hired by APC allegedly attacked PDP campaign team and burnt some vehicles belonging to PDP supporters. At the April 11 election, the Returning Officer, Prof. Abdullahi Zuru declared Yari winner with a total vote of 716,964 votes defeating his father-in-law, Shinkafi of the PDP who scored 201,938 votes to come second while the All Progressives Grand Alliance (APGA) candidate and National Secretary of the party, Alhaji Sani Shinkafi polled a total of 2,385 votes to come third. Though Shinkafi has not publicly congratulated his son-in-law, there has also been no record or statement on whether he and his party would challenge Yari’s victory at the Election Petition Tribunal. However, the APGA candidate, Shinkafi has filed a petition against Yari and the Independent National Electoral Commission (INEC) on the conduct of the April 11 election. Speaking at the inaugural sitting at High Court IV, Gusau, the chairperson of the tribunal, Justice Grace Onyebo, said the tribunal received two petitions. Onyebo said that the petitions were filed by the governorship candidate of APGA, Alhaji Sani Shinkafi and the state chairman of the party, Alhaji Rabi’u Bungudu, against INEC. Born on January 1, 1969, Yari has been politically active in Zamfara State since 1999. He was elected to represent Talata Mafara/Anka Federal Constituency in the House of Representatives during the 1999 elections. He was Zamfara State Chairman of the ANPP and a member of the cabinet of former Governor Yerima. Just on Monday, he became the chairman of the Nigerian Governors’ Forum (NGF).

42 Politics

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Suswam’s seven albatrosses As Governor Gabriel Suswam of Benue State prepares to finally leave the Government House and handover the mantle of leadership to the All Progressives Congressled administration of Dr. Samuel Ortom come May 29, he may not forget in a hurry some major events that trailed his administration in the last eight years. CEPHAS IORHEMEN

Court cases Soon after Governor Gabriel Suswam was declared winner of the 2011 governorship election by the Independent National Electoral Commission (INEC), two of his rivals, Professors Steve Ugba of the defunct Action Congress of Nigeria (ACN) now All Progressives Congress (APC), and Daniel Saror of the All Nigeria People’s Party (ANPP) dragged him to the governorship election petition tribunal to challenge his victory citing non-qualification over alleged certificate scandal. The opposition parties fought the legal battle from two fronts. While the duo of Rotimi Akeredolu (SAN) and Femi Falana led the ACN onslaught on behalf of Ugba, Bar. Chris Opine anchored that of Saror and the ANPP. Saror hinged his legal tussle on alleged non-qualification of Suswam to contest the election in the first place. He cited the governor’s alleged forgery of his West African Examination Council (WAEC) certificates and his failure to attach same to the Independent National Electoral Commission (INEC) Form as the basis for his action. On the other hand, Ugba tied his petition to general electoral malpractices at the polls and the governor’s alleged certificate forgery. The case dragged on throughout the lifespan of Suswam administration until the Supreme Court, upheld Suswam’s election in 2013. Alleged certificate forgery scandal One of the greatest problems faced by the outgoing governor of Benue State on assumption of office was the nagging issue of alleged certificate scandal. National dailies and local tabloids in the country carried screaming headlines on the matter in their front pages after some documents indicating that he might have forged the West Africa School Certificate with which he was purportedly admitted to the University of Lagos to study Law. Though the original certificate portrayed him as having passed five subjects, the subjects passed were without Mathematics and English, which is a pre-requisite subject for admission into Law programmes in Nigerian univer-

Suswam

sities. However, the new certificate had significant changes indicating that Suswam passed “English and Mathematics”, significantly raising the possibility that the new document is “a complete forgery” according to Suswan critics. The governor, however, sailed through the troubling waters after a protracted legal tussle. N4.7 billion pigs importation scam In 2009, the media was awash with the news that Suswam was allegedly caught with N4.7 billion in the United States. It was alleged that the governor was asked what he was going to do with the whooping amount and he said he wanted to buy pigs with it. This claim could not hold water as there were no evidence on the allegation to nail him to the political cross. Strikes over unpaid salaries The Suswam administration, in the last eight years also witnessed series of strikes in the education sector as well as several industrial actions by workers over nonpayment of salaries. Children attending public primary schools in Benue State were stuck at home for 10 months following a dispute over teachers’ salaries occasioned by discrepancies in the implementation of the national minimum wage. At the moment, Suswam is owing workers in the state a backlog of between four to five months and no efforts are being made to pay the workers despite the regular flow of the state’s share of the monthly allocation from the federation account. Other tertiary institutions such as the Benue State University, Makurdi; Colleges of Education in Katsina-Ala and Oju, Benue Polytechnic Ugbokolo, Akperan Orshi College of Agriculture, Yan-

dev among others, were also shut for months over the governor’s refusal to pay teachers’ salaries. The School of Nursing and Midwifery in the state has gradually folded up due to the blind eye given to it by the present administration.

Suswam will not equally forget March 28 and April 11 in a hurry. These were the days the governor’s political career crumbled

Benue invasion by insurgents Another major challenge that confronted the government of Suswam is the sustained invasion of the state by armed men believed to be of Fulani extraction in which scores of people including women and children have been killed. Local government areas that suffered continuous attacks include: Makurdi, Guma, home of the APC’s governor-elect, Dr. Samuel Ortom, Gwer, Gwer-West, Kwande, parts of Vandeikya as well as Agatu. Of these local communities, Agatu, Gwer West and Guma witnessed more bloodbaths under the outgoing administration. The Fulani herdsmen literarily turned the communities to slaughter fields. New Telegraph learnt that no fewer than 500 persons were killed in Agatu alone within the last few years. Close shave with death on birthday eve November 14, 2014 will ever remain memorable to Governor Suswam. The governor and his deputy, Chief Steven Lawani, on the fateful day, escaped death by the whiskers after their vehicles were involved in an accident on the eve of his 50th birthday. Eight people were injured in the mishap. Suswam’s official vehicle in which he was travelling and his spare vehicle were directly affected by the impact of the crash. The governor who was in the same vehicle with his deputy escaped unhurt. The governor and his deputy were on their way to the tree

planting campaign at Wannune in Tarka Local Government Area as well as the flag-off of the Wannune-Ikpa road project when the accident occurred. It occurred when an oncoming vehicle which overtook another vehicle lost control, summersaulted, then hit the spare vehicle of the governor as well as the vehicle in which both the governor and his deputy were travelling. The accident happened at Angbaaye, a few kilometres after Makurdi, the state capital. Election fallout Governor Suswam will not equally forget March 28 and April 11 in a hurry. These were the days the governor’s political career crumbled. On March 28, the outgoing governor was defeated in his bid to represent the people of Benue North-East Senatorial District in the Senate by the incumbent Senator Barnabas Gemade who is taking his second shot at the position. Suswam’s efforts to unseat Gemade hit the brick wall as he was humbled at the poll by the latter. Also on April 11, Suswam once again received another deadly blow as his efforts to install his preferred candidate, Mr. Terhemen Tarzoor, as his successor became futile as the people of the state voted overwhelmingly for the APC candidate, Samuel Ortom, instead of the Peoples Democratic Party (PDP). After May 29 For now, it is not exactly known where Suswam will be after handing over to the next administration. Political pundits are of the view that the Shitile-born politician may either return to the legal profession or face his other business. For now, the political relevance of Suswam has waned with no base at either the state or federal.

Politics 43

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

CONTINUED FROM PAGE 15

In what seemed to be a payback to Governor Lamido for refusing to pick him as his successor, Mahmud few days to the governorship election, defected to APC alongside some officials of the PDP-led state government, including commissioners in the state and helped the opposition party to scuttle Lamido’s dream of installing his anointed candidate as Jigawa governor. Before his defection, the PDP had accused the deputy governor of antiparty activities during the presidential and National Assembly elections and was expelled during an emergency meeting held by PDP stakeholders of Galagamma ward of Gumel Local Government Area of Jigawa State. Director of Press to the governor, Umar Kyari, said the deputy governor was dismissed for allegedly voting for the APC in the elections, describing the action as a betrayal of trust. Mahmud political future is secured. He may be offered appointment in the APC-led government. Longjan, Aliyu, Utuama, guber ambitions hit the rock Governor Jonah Jang had made it known to his deputy, Ambassador Ignatius Longjan, that they were leaving Plateau Government House together once their tenure expires in 2015. Jang felt that the younger generation should take over governance in the state. But the deputy governor acted against Jang’s wish. He took part in the PDP primaries but was defeated by Jang’s anointed candidate, Senator Gyang Pwajok, who scored 453 votes while the deputy governor had 163 votes. In Kebbi State, Governor Saidu Dakingari’s deputy and former Military Administrator of Jigawa State, Alhaji Ibrahim Aliyu, also failed to succeed his boss. He lost the ticket following the adoption of former General Officer Commanding (GOC) of the Nigerian Army, General Sarkin Yarki Bello (rtd), as PDP governorship candidate in the state. Delta State deputy governor, Prof. Amos Utuama, also lost the PDP ticket to Senator Ifeanyi Okowa, who eventually won the April 11 governorship poll. Oyo, Imo, Kwara, Gombe dep govs re-elected While some deputy governors failed to be re-elected alongside their bosses or fell out with their principals, the deputy governors of Oyo, Imo, Gombe, Kwara,

Not good enough Borno, Yobe and Zamfara scaled the hurdles during the April 11 governorship poll. Borno deputy governor, Zannah Umar Mustapha, got re-elected with Governor Kashim Shettima. Mallam Ibrahim Wakkala was re-elected alongside his boss, Governor Abdul’aziz Yari in Zamfara State while Prince Eze Madumere also retained his seat with the election of Governor Rochas Okorocha in Imo State.

Elder Moses Adeyemo (Oyo), Peter Kisira (Kwara), Charles Iliyas (Gombe) and Abubakar Aliyu (Yobe) were re-elected on April 11 as deputy to Governors Abiola Ajimobi, Abdulfatai Ahmed, Ibrahim Dankwambo and Ibrahim Geidam respectively. Deputies leave with govs Having served and enjoyed cordial relationship with their governors while in office, the depu-

ty governors of Akwa Ibom, Enugu, Cross Rivers and Abia states did not aspire for any political offices in the last general elections. They are expected to leave office with their principals on May 29 after handing over the baton to a new government. In Akwa Ibom State, the deputy governor, Lady Valerie Ebe, who took over from Mr. Nsima Ekere, did not show any intention of succeed-

ing Governor Godswill Akpabio. The belief in some quarters was that Ebe did not aspire for any office on account of her age. She was born on March 26, 1947. Enugu State deputy governor, Rev. Ralph Nwoye, is also expected to leave office on May 29 with his boss, Governor Sullivan Chime. The 70-year-old deputy governor of Abia State, Chief Emeka Ananaba, is also expected to leave

Abia Government House with Governor Theodore Orji on May 29. Governor Liyel Imoke’s deputy, Efiok Essien Cobham, will also leave the Government House with his boss next week Friday. Alhaji Mohammed Garba Gadi, the deputy governor of Bauchi State, is also expected to quit office on May 29 with Governor Isa Yuguda following PDP’s defeat in the last general elections.

Business | Money Line

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Experts predict more borrowing under Buhari’s regime

STAGFLATION

The incoming government is likely to face the challenges of stagflation Tony Chukwunyem

s part of efforts to stimulate growth against the backdrop of a significant drop in revenue, the incoming administration of General Muhammadu

outh Africa’s Competition Commission has started an investigation into banks including Citigroup Inc., Barclays Plc’s African operations, JPMorgan and a unit of Standard Chartered Plc, and for allegedly rigging the foreign currency market, two years after a global probe into the practice began. The antitrust agency will focus on currency trades involving the South African rand in spot, forward and futures contracts, it said in a statement yesterday. The group of 11 named by the commission, may have colluded by using electronic messaging software to coordinate trades when quoting prices to customers, it said. Bloomberg quoted an independent trader and founder of Johannesburgbased TradersCorner.

Buhari is likely to spend more through increased borrowing, leading financial advisory firm, Financial Derivatives Company Limited (FDC) has predicted. The firm made this forecast in the latest edition of its “Economic Bulletin” made available to the New Telegraph.

Citing current data, which showed that real Gross Domestic Product (GDP) growth in Q1 2015 fell sharply to 3.96 per cent from 5.94 per cent in Q4 2014, an equivalent of $10.1billion, the FDC pointed out that this slowdown in economic activity could impact the developmental plans of the

incoming government. It noted that the new administration could be facing serious challenges, as the country appears to be in danger of stagflation - a combination of decline in economic growth and increase in inflation. Thus, according to the FDC, “In order to stimulate growth, the govern-

Forex: S’Africa probes Citigroup, StanChat, others co.za, Garth Mackenzie, as saying: “It’s certainly not good news for the banks I can’t imagine the authorities would launch into this without a high chance of finding something.” The probe follows investigations into the rigging of currency markets that began in the United Kingdom two years ago. British banks set aside more than $1.7 billion in the first quarter to cover the cost of settling such probes. South African banks have avoided scrutiny until now. The South African Reserve Bank said in a separate statement Tuesday the alleged market

rigging occurred outside the country. The traders allegedly directly or indirectly fixed prices in relation to bids, offers and bid-offer spreads in respect of spot, futures and forwards currency trades, the commission said. “Conduct of this nature distorts the price of foreign exchange and artificially inflates the cost of trading in foreign currency paired with the South African rand,” Competition Commissioner Tembinkosi Bonakele said in the statement. “With this investigation we are sending a clear message that we will pursue cartels affecting South Af-

rica wherever they take place.” The Competition Commission is South Africa’s antitrust investigative and enforcement agency. Once it has probed what it thinks may be prohibited practices, it can impose penalties and make recommendations to the country’s Competition Tribunal, which then adjudicates. Companies facing fines can go to the Competition Appeal Court. South Africa “has a high standard in financial market regulation, and this will bring additional confidence,” Mackenzie of TradersCorner said of the investigation.

Economic Indicators As at

As at M2* CPS* INF IBR MPR

N14,737,618.7m N16,509,472.5m 8.7 0.0000 13

Description

TTM

4.00% 23-Apr-2015 13.05% 16-Aug-2016 15.10% 27-Apr-2017 16.00% 29-Jun-2019 16.39% 27-Jan-2022 10.00% 23-Jul-2030

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

Dec, 2013 Dec, 2013 May, 2015 2/5/2014 1/20/2014 Source: CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

91-day NTB DPR PLR Bonny Light Ext Res**

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

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

Bid 12.10 12.10 12.05

Bid Spot ($/N) 163.28 THE FIXINGS –NIBOR, NITTY and NIFEX of February 6,2014

10.899 7.96 17.01 US$109.9 US$29,808,779,751

NITTY

11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 15/5/2015

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

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

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

ment is likely to spend more through increased borrowing and advocate for a lower interest rate. This reduces unemployment and boosts growth but is likely to result in a higher level of inflation rate. Nonetheless, if the level of economic growth achieved by the accommodative policy is significant, the impact of a high rate of inflation may be muted.” The financial advisory firm also suggested that the danger of stagflation could be averted if banks were encouraged to lend to specific sectors of the economy using subsidiSed interest rates coupled with the Central Bank of Nigeria (CBN) setting a more practical inflation target. “If policy measures by the new administration are aimed at reviving productivity and improving returns on investment, the real sector will have the incentive to lift capital

expenditure. Hence, Nigeria will be on the transition path from stagflation to higher and sustainable real economic growth. “Buhari is obsessed with development and long-term competitiveness of the Nigerian economy, aimed at improving the welfare of Nigerians. He will have to deal with some trade-offs especially allowing for some inflation whilst investing significantly i.e. 10 per cent of GDP in infrastructure to jump-start the economy. There are no easy options, there are only hard choices.” The FDC stated. Although concerns have been raised in some quarters about the N5 trillion domestic debt that the outgoing administration of President Goodluck Jonathan is reported to have incurred in the last five years, prominent financial analysts contend that the country’s debt to GDP ratio is still within acceptable limits.

Foundation, UNECA partner on African ‘data revolution’

he Tony Elumelu Foundation and the United Nations Economic Commission for Africa (UNECA) have concluded a three-day working session to create a roadmap on how to implement an ambitious plan to initiate a “data revolution” across Africa. The session according to a statement, took place at the Tony Elumelu Foundation’s Africapitalism Institute offices in Lagos, which conducts research on economic and social development and included experts from the World Wide Web Foundation, United Nations, African Union Commission and the Africa Development Bank. At the end of the three day session UNECA’s Dozie Ezigbalike, said: “For me, I see the data revolution as an active process of doing things in different and new ways; be disruptive of the status quo if need be, with the objective to empower citizens to become active participants in processes that would affect them. With access to appropriate data, appropriately presented, citizens can demand services that they rightfully deserve, and confirm that the agreed services were actually delivered.” The World Wide Web

Foundation’s Nnenna Nwakanma, likewise, restated her commitment to the data revolution. She said: “Data is the new gold. The more of it you can generate, use, and share, the more sustainably developed you will be. “Opening up data is key to my work at the Web Foundation and engaging our expertise towards the Data Revolution in Africa is a firm decision. We are here to support policy, build capacities, contribute to better governance with data and support citizen engagement. Our work in research, in Open Data, in standards, in data labs and in policy advisory will accompany the implementation of the Africa Data Consensus”. Commenting on the data revolution, the Director of the Institute, David Rice, stated: “The proliferation and ubiquity of information communication technology, electronic financial transactions, digital commerce, and social media has resulted in an unprecedented amount of data being gathered by the private sector – data that would be extraordinarily useful in the formulation of public policy, allocation of government resources, and creation of effective development strategies for Africa.”

Business | Financial Market News

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

FMDQ Daily Quotations List

19-May-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

1.24 1.94 2.19 2.29 3.03 4.11 4.43 4.74 6.69 8.82 13.53 14.01 14.51 15.18 19.16

13.83 13.78 13.73 13.73 13.71 13.71 13.64 13.61 13.51 13.60 17.23 17.83 18.52 15.54 13.61

13.69 13.69 13.64 13.64 13.58 13.61 13.53 13.53 13.44 13.54 17.17 17.75 18.42 15.47 13.56

99.08 102.16 92.83 91.62 92.73 106.98 78.44 106.51 112.38 103.00 88.41 72.80 50.04 68.00 90.08

99.23 102.31 92.98 91.77 93.03 107.28 78.74 106.81 112.68 103.30 88.71 73.10 50.34 68.30 90.38

TOTAL OUTSTANDING VALUE

4,746.32

TOTAL MARKET CAPITALISATION

4,441.82

Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.01 1.00 1.56 1.92 2.13

2.63 2.27 2.00 2.66 2.85

16.44 16.86 15.75 16.40 16.58

99.71 100.40 100.30 101.47 97.78

Agency Bonds FMBN ***LCRM

0.00 FMB 24-MAY-2015 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

322.38

TOTAL MARKET CAPITALISATION

322.89

Sub-National Bonds A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

31-Aug-15

0.28

4.44

17.37

98.57

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

30-Sep-15

0.37

3.23

16.81

98.63

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

30-Jun-16

0.64

4.46

19.05

97.10

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

30-Jun-16

0.64

3.48

18.07

98.48

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017

19-Apr-10

10.00

57.00

19-Apr-17

1.92

1.00

14.74

92.30

‡ /Agusto

*BAYELSA

13.75 BAYELSA 30-JUN-2017

30-Jun-10

13.75

25.73

30-Jun-17

1.18

1.00

15.29

98.39

‡ /Agusto

EDO

14.00 EDO 31-DEC-2017

30-Dec-10

14.00

25.00

31-Dec-17

2.62

1.79

15.51

96.80

‡ /Agusto; A+/GCR

*DELTA

14.00 DELTA 30-SEP-2018

30-Sep-11

14.00

30.81

30-Sep-18

2.00

1.80

15.53

97.48

Bb-/Agusto; A-/GCR

NIGER

14.00 NIGER II 4-OCT-2018

04-Oct-11

14.00

9.00

04-Oct-18

2.01

1.00

14.73

98.73

‡ /Agusto; A-/GCR†

*EKITI

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

1.99

1.00

14.73

99.60

Bb-/Agusto

*NIGER

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

1.99

4.78

18.51

93.07

‡ /Agusto; A-/GCR

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.19

1.00

14.73

101.28

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

2.62 4.51 2.58

1.00 1.00 1.00

14.72 14.64 14.72

101.51 99.56 100.05

BBB-/Agusto

*OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

14.75

10.78

10-Oct-20

3.13

1.00

14.71

100.09

Aa-/Agusto; ‡ /GCR

LAGOS

13.50 LAGOS 27-NOV-2020

27-Nov-13

13.50

87.50

27-Nov-20

5.53

1.00

14.53

96.15

A-/Agusto; BBB+/DataPro

KOGI

15.00 KOGI 31-DEC-2020

31-Dec-13

15.00

5.00

31-Dec-20

5.62

1.00

14.53

101.73

‡ /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

3.28

1.44

15.14

98.43

06-Jan-14

15.00

4.56

06-Jan-21

3.31

1.00

14.70

100.67

99.09

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

452.88 442.17

Corporate Bonds BBB+/Agusto BBB-/Agusto

*UPDC

10.00 UPDC 17-AUG-2015

17-Aug-10

10.00

2.50

17-Aug-15

0.25

1.00

13.68

*FLOURMILLS

12.00 FLOURMILLS 9-DEC-2015

09-Dec-10

12.00

18.75

09-Dec-15

0.31

1.00

14.12

99.37

BB/GCR

*CHELLARAMS

14.00 CHELLARAMS 06-JAN-2016

06-Jan-11

14.00

0.42

06-Jan-16

0.39

2.63

16.38

99.15

A+/Agusto; A-/GCR

NAHCO

13.00 NAHCO 29-SEP-2016

29-Sep-11

13.00

15.00

29-Sep-16

1.37

1.00

14.99

97.58

A-/Agusto

FSDH

14.25 FSDH 25-OCT-2016

25-Oct-13

14.25

5.53

25-Oct-16

1.44

1.34

15.21

98.78

A/GCR

UBA

13.00 UBA 30-SEP-2017

30-Sep-10

13.00

20.00

30-Sep-17

2.37

1.00

14.73

96.61

BBB-/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

0.64

30-Nov-17

1.39

1.88

15.83

103.34

Nil

*C & I LEASING *DANA#{r}

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

5.40

09-Apr-18

1.64

1.00

14.75

101.69

A-/DataPro†; B+/GCR

*TOWER#

MPR+7.00 TOWER 9-SEP-2018

09-Sep-11

18.00

2.54

09-Sep-18

1.81

1.00

14.74

104.77

AAA/DataPro†; A/GCR

*TOWER#

MPR+5.25 TOWER 9-SEP-2018

09-Sep-11

16.00

0.70

09-Sep-18

1.81

1.00

14.74

101.81

A+/Agusto; A/GCR

UBA

14.00 UBA II 22-SEP-2018

22-Sep-11

14.00

35.00

22-Sep-18

3.35

3.00

16.70

93.23

BBB+/Agusto; BBB+/GCR

15.75 LA CASERA 18-OCT-2018

18-Oct-13

15.75

2.10

18-Oct-18

1.92

2.29

16.03

99.51

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

2.00

6.11

19.84

97.19

Nil

*DANA#{r}

16.00 DANA II 1-APR-2019

01-Apr-14

16.00

4.50

01-Apr-19

2.62

2.16

15.88

100.19

A+/Agusto; A-/GCR

NAHCO

15.25 NAHCO II 14-NOV-2020

14-Nov-13

15.25

2.05

14-Nov-20

5.49

2.76

16.30

96.28

BBB/GCR

FCMB

14.25 FCMB I 20-NOV-2021

20-Nov-14

14.25

26.00

20-Nov-21

6.51

1.80

15.23

96.03

A/GCR

UBA

16.45 UBA I 30-DEC-2021

30-Dec-14

16.45

30.50

30-Dec-21

6.62

2.14

15.57

103.49

A/GCR

STANBIC IBTC

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

30-Sep-14

11.93

0.10

30-Sep-24

9.37

1.00

14.90

85.21

A/GCR

STANBIC IBTC

13.25 STANBIC IB 30-SEP-2024

30-Sep-14

13.25

15.44

30-Sep-24

9.37

1.00

14.90

91.78

TOTAL OUTSTANDING VALUE

187.53

TOTAL MARKET CAPITALISATION

182.82

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

2.74

1.00

14.72

90.08

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

14.61

86.25

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

24.95 21.98

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.53

5.33

105.89

106.89

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.40

4.11

102.11

102.96

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.74

5.59

104.07

105.04

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,560.34

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

6.46

4.39

100.98

102.98

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.34

99.80

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

10.67

9.33

90.56

93.75

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.39

6.81

95.81

97.53

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.40

96.13

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

10.17

9.94

95.43

96.16

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

8.75 10.30 9.34

8.75 9.95 9.34

97.21 95.50 93.00

97.21 97.00 93.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.11

9.40

93.00

96.13

TOTAL OUTSTANDING VALUE

3,650.00

TOTAL MARKET CAPITALISATION

3,505.20

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

FIXINGS Maturity 4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 23-Jul-15

Bid Discount (%) 12.09 13.12 13.20 13.04 10.30 12.59 12.49

Offer Discount (%) 11.84 12.87 12.95 12.79 10.05 12.34 12.24

Bid Yield (%) 12.15 13.23 13.38 13.25 10.45 12.85 12.77

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 53.6667 14.7283 15.6718 17.0153

Tenor

Rate (%)

OBB

41.67

O/N Tenor Call

44.33

REPO

Rate (%) 26.00

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M

198.04 201.81 202.13 202.87 204.24

198.14 201.93 202.28 203.37 205.31

^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

4,441.82

Rating/Agency

Description

Issuer

23-Jul-30 18-Jul-34

15.18 19.16

15.54 13.61

15.47 13.56

68.00 90.08

68.30 90.38

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

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

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.01 1.00 1.56 1.92 2.13

2.63 2.27 2.00 2.66 2.85

16.44 16.86 15.75 16.40 16.58

99.71 100.40 100.30 101.47 97.78

Agency Bonds 0.00 FMB 24-MAY-2015 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

FMBN

Business | Financial Market News

***LCRM

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

322.89

Stock market sheds N26bn

NEM reports 229% rise in Q1 pretax profit

Sub-National Bonds

A/Agusto

KADUNA

12.50 KADUNA 31-AUG-2015

31-Aug-10

12.50

8.50

A-/Agusto

*EBONYI

13.00 EBONYI 30-SEP-2015

30-Sep-10

13.00

2.16

BBB+/Agusto

*BENUE

14.00 BENUE 30-JUN-2016

30-Jun-11

14.00

4.86

‡ /Agusto

*IMO

15.50 IMO 30-JUN-2016

30-Jun-09

15.50

5.73

A+/Agusto; ‡ /GCR

LAGOS

take profits.10.00 LAGOS 19-APR-2017 sector was the most ac19-Apr-10 SPECULATORS ‡ /Agusto *BAYELSA 13.75 BAYELSA 30-JUN-2017 Consequently, the Alltive (measured by30-Jun-10 turn30-Dec-10 ‡ /Agusto 14.00 EDO 31-DEC-2017 Share Index 14.00 dipped 74.53 over volume); with30-Sep-11 192.9 Market speculatorsEDO ‡ /Agusto; A+/GCR *DELTA DELTA 30-SEP-2018 04-Oct-11 Bb-/Agusto; A-/GCR NIGER 14.00 NIGER II 4-OCT-2018 basis points or 0.22 per million shares worth N2 begin profit-taking *EKITI 09-Dec-11 ‡ /Agusto; A-/GCR† 14.50 EKITI 09-DEC-2018 cent to close at 34,706.93 billion exchanged by in12-Dec-13 Bb-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018 as against 34,781.46 re- vestors in 1,583 deals. 14-Feb-12 ‡ /Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019 02-Oct-12 BBB+/Agusto; A-/GCR *GOMBE corded the previous 15.50 GOMBE 02-OCT-2019 Volume in the banking day, Aa-/Agusto; ‡ /GCR LAGOS 14.50 LAGOS 22-NOV-2019 22-Nov-12 while the market capital- sub-sector was largely 12-Dec-12 BBB-/Agusto; *OSUN 14.75 OSUN 12-DEC-2019 Stories byBBB+/GCR Chris Ugwu BBB-/Agusto *OSUN 14.75 OSUNdepreII 10-OCT-2020 driven by activities 10-Oct-13 isation of equities in the 27-Nov-13 Aa-/Agusto; ‡ /GCR LAGOS 13.50 LAGOS 27-NOV-2020 he Nigerian eqciated by N26 billion or shares of UBA Plc and 31-Dec-13 A-/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020 0.22 per cent.14.50 EKITI II 31-DEC-2020 Unity Bank Plc. 31-Dec-13 ‡ /Agusto uity market yes*EKITI 06-Jan-14 A-/GCR terday tumbled, *NASARAWA Meanwhile, 15.00 NASARAWA 06-JAN-2021 Also, other financial a turnTOTAL OUTSTANDING VALUE as the bears over of 357.2 million sub-sector of the financial TOTAL MARKET CAPITALISATION maintained dominance, shares worth N4.1 bil- services sector, boosted by Corporate Bonds producing 25 losers and lion in 4,700 deals was activities in the shares of UPDC 17-AUG-2015 BBB+/Agusto *UPDC 35 BBB-/Agusto gainers. recorded in10.00 the day’s FBNH Plc followed17-Aug-10 with 12.00 FLOURMILLS 9-DEC-2015 09-Dec-10 *FLOURMILLS Bargain hunters levtrading. a turnover of 46.3 million 14.00 CHELLARAMS 06-JAN-2016 BB/GCR 06-Jan-11 *CHELLARAMS 13.00sub NAHCO 29-SEP-2016 shares valued at N199.4 A+/Agusto; A-/GCR 29-Sep-11 NAHCO eraged on gains recordThe banking sector 14.25 FSDH 25-OCT-2016 A-/Agusto 25-Oct-13 FSDH edA/GCR for about six daysUBA to of the financial services million in 803 deals. 13.00 UBA 30-SEP-2017 30-Sep-10

Shares of Betaglass 10.00 57.00 13.75 Plc led the gainers25.73 chart, 14.00 25.00 appreciating by 10.24 14.00 30.81 per 14.00 9.00 per cent to close at N36.38 13.73 share.14.50 Skye Bank Plc fol14.00 10.20 lowed15.50 with a gain27.00 of 9.66 15.50 to close at 15.09 per cent N2.61 14.50 80.00 per share. 14.75 25.70 On14.75 the flip side,10.78 shares 13.50 of Carverton Plc 87.50 led the 15.00 5.00 losers14.50 with a loss 4.55 of 9.46 15.00 to close at 4.56 per cent N3.35 452.88 per share. AG Leventis 442.17 Plc plunged 4.94 per cent to close at N1.54 per 10.00 2.50 share, while Portland 12.00 18.75 Paints Plc dropped 14.00 0.42 4.67 13.00 to close at 15.00 per cent N3.47 14.25 5.53 per share. 13.00 20.00

BBB-/GCR

*C & I LEASING *DANA#{r}

Nil

A-/DataPro†; B+/GCR

AAA/DataPro†; A/GCR

18.00 C&I LEASING 30-NOV-2017

30-Nov-12

18.00

MPR+7.00 DANA 9-APR-2018

09-Apr-11

16.00

#{r}

18.00

2.54

16.00

0.70

22-Sep-11

14.00

35.00

18-Oct-13

15.75

2.10

17-Feb-12

18.00

0.36

01-Apr-14

16.00

4.50

14-Nov-13

15.25

2.05

20-Nov-14

14.25

26.00

30-Dec-14

16.45

30.50

30-Sep-14

11.93

0.10

30-Sep-14

13.25

15.44

Targets 10% loan growth

B-/Fitch; B/S&P

FIRST BANK LTD

B-/S&P

ECOBANK NIG. LTD

0.28

4.44

17.37

98.57

30-Sep-15

0.37

3.23

16.81

98.63

30-Jun-16

0.64

4.46

19.05

30-Jun-16

0.64

3.48

18.07

98.48

19-Apr-17

1.92

1.00

14.74

92.30

97.10

1.18 1.00 98.39 EM Insurance Plc future15.29 strengthening in 2.62 1.79 15.51 96.80 has posted 229.68 cash flows. 30-Sep-18 2.00 1.80 15.53 97.48 04-Oct-18per cent 2.01 1.00 14.73firm’s 98.73 growth in The manage09-Dec-18 1.99 1.00 14.73 99.60 pre-tax profit for the first ment noted that the level 12-Dec-18 1.99 4.78 18.51 93.07 quarter March 31, of receivables has nar14-Feb-19 ended2.19 1.00 14.73 101.28 02-Oct-19 2.62 1.00 101.51 . 2015. rowed14.72 significantly 22-Nov-19 4.51 1.00 14.64 99.56 In a filing from The agency 12-Dec-19 2.58 the Ni1.00 14.72 rating100.05 10-Oct-20 Stock 3.13 1.00 noted14.71 that the100.09 ratio of gerian Exchange 27-Nov-20 5.53 1.00 14.53 96.15 (NSE), the company said shareholders’ funds/net 31-Dec-20 5.62 1.00 14.53 101.73 its profit before written was 31-Dec-20 3.28 tax rose 1.44 15.14 premium 98.43 3.31 1.00 14.70 reported at a 100.67 stronger to06-Jan-21 N1.654 billion in 2015 as against N501.704 million 59 percent in F13 (F12: posted a same period last 48%), driven by the conyear. This indicates some traction in the risk pre17-Aug-15 229.68 per cent0.25 growth. 1.00 mium13.68 base for 99.09 the year. 09-Dec-15 0.31 1.00 14.12 99.37 The company’s net “Nonetheless, capital 06-Jan-16 0.39 2.63 16.38 99.15 29-Sep-16 1.37 grew to 1.00 14.99 97.58 premium equally adequacy continues to 25-Oct-16 1.44 1.34 15.21 98.78 trend well below his23.05 per cent from N1.831 30-Sep-17 2.37 1.00 14.73 96.61 billion billion retorical levels. Statutory 30-Nov-17to N2.253 1.39 1.88 15.83 103.34 09-Apr-18 in first 1.64 14.75 101.69 ported quarter. 1.00 coverage of admissible 09-Sep-18 1.81 1.00 14.74 104.77 Global Credit Ratings assets14.74 measured at 1.2x 09-Sep-18 1.81 1.00 101.81 (GCR) February in F13, albeit the respec22-Sep-18had last 3.35 3.00 16.70 93.23 18-Oct-18 2.29 16.03 99.51 affirmed the1.92national tive margin buffer re17-Feb-19 2.00 6.11 19.84 97.19 scale claims paying abilimains thin relative to 01-Apr-19 2.62 2.16 15.88 100.19 ty14-Nov-20 rating assigned the statutory minimum 5.49 to NEM 2.76 16.30 96.28 20-Nov-21 1.80 15.23 96.03 Insurance Plc 6.51 of A-(NG); of 1.0x.” 30-Dec-21 6.62 2.14 15.57 103.49 with the outlook accordAccording to the rat30-Sep-24 9.37 1.00 14.90 85.21 ed as Stable. The rating ing agency, the91.78 insurer 30-Sep-24 9.37 1.00 14.90 is valid until November reflects a moderately 2015. conservative investment GCR according to stance, which continues a 11-Feb-18 statement 2.74 from the to translate into ade1.00 14.72 90.08 01-Feb-21 4.75 has ac1.00 insurance firm quate14.61 liquidity86.25 metrics. corded the above credit Besides, it noted that rating to NEM Insur- the insurer’s earnings ance Plc based on key mix is fairly well diverMaturity Date Bid Yield (%) Offer Yield (%) Bid Price Offer Price criteria that NEM dis- sified. plays a well-entrenchedPrices & Yields The rating agency said:105.89 “This is 106.89 partially position within 28-Jan-21 5.53 the do5.33 mestic non-life Nigerian offset by the compara12-Jul-18 4.40 4.11 102.11 102.96 industry, supported by a tively more aggressive 12-Jul-23 brand franchise. 5.74 5.59 strong risk 104.07 retention105.04 appetite While the insurer evi- displayed (averaging denced premium losses over 90% relative to the in 2013, owing to the peer median of 70%). regulator’s strict imple“Note is taken of the 19-May-16 6.46 4.39 100.98 102.98 mentation of the “cash relatively favourable un25-Jul-17 7.34 7.34 99.80 99.80 and carry” policy, this derwriting track record 02-May-18 10.67 9.33 90.56 93.75 displayed by the insurer, is08-Nov-18 viewed in the 7.39 context 6.81 95.81 97.53 22-Apr-19 7.40 7.40 96.13 96.13 profof the industry-wide with underwriting 21-May-19 10.17 9.94 95.43 nature of the change, its posted in 4 of96.16 the last 07-Aug-20 8.75 8.75 97.21 97.21 as24-Jun-21 well as potential for 5 years under review.” 10.30 9.95 95.50 97.00 30-Jun-17

5.40

09-Sep-11

31-Aug-15

31-Dec-17

0.64

Share reconstruction not on card now, says Fidelity Bank

MPR+7.00 TOWER 9-SEP-2018 idelity Bank Plc*TOWER has said MPR+5.25 TOWER 9-SEP-2018 *TOWER that A/GCR no immediateUBA plans by 14.00 UBA II 22-SEP-2018 A+/Agusto; 15.75 LA CASERA 18-OCT-2018 BBB+/Agusto; BBB+/GCR *LA CASERA the bank to undertake any MPR+5.00 CHELLARAMS II 17-FEB-2019 BBB-/DataPro†; BB/GCR *CHELLARAMS form of share reconstruction. 16.00 DANA II 1-APR-2019 Nil *DANA The Managing director of the 15.25 NAHCO II 14-NOV-2020 A+/Agusto; A-/GCR NAHCO 14.25 FCMB I 20-NOV-2021 BBB/GCR FCMB bank, Mr. Nnamdi Okonkwo stat16.45 UBA I 30-DEC-2021 UBA ed A/GCR this yesterday at the bank’s 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR STANBIC IBTC facts behind the figures onIBTC the 13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC TOTAL VALUE floor of OUTSTANDING the Nigerian Stock ExTOTAL(NSE). MARKET CAPITALISATION change will see that our actual growth Okonkwo last year was 18 per cent. Supranationalsaid Bondthat he does not believe that share reconstruction “This we have given a 10.20 year, IFC 11-FEB-2018 AAA/S&P IFC 11.25 AFDB AAA/S&P AfDB of 1-FEB-2021 10 per cent loan forAaa/Moody's; the bank will not add any sig- guidance TOTAL OUTSTANDING VALUE growth because we are not gonificant value to shareholders. TOTAL MARKET CAPITALISATION He said the immediate target ing to have the kind of big ticket of Fidelity Bank is to continue transaction we hadDescription last year, like Rating/Agency Issuer to build its retail base, which the Shell Divestment, which we FGN Eurobonds aggressively raked in about 417 played actively in. thousand retail bases in 2014. “While maintaining 6.75 JAN 28, 2021 our BB-/Fitch; B+/S&P strong corporate banking play, The Fidelity Bank boss said BB-/Fitch; FGN 5.13 JUL 12, 2018 theBB-/S&P lender is targeting a 10 per SME banking would help you BB-/Fitch; 6.38 JUL 12, 2023 cent loan growth for the financial grow low cost deposits because BB-/S&P year 2015. the multinationals and upper TOTAL OUTSTANDING VALUE Okonkwo also said the bank market players cannot pay the TOTAL MARKET CAPITALISATION would deepen its play in the re- type of interest rate you will Eurobonds tailCorporate and small and medium scale charge. So, if we deepen our re7.50 MAY 19, 2016 B+/Fitch; B+/S&P GTBANK PLC I ofJULfund would enterprises (SMEs) segment this tail play, our cost7.25 25, 2017 B+/S&P ACCESS BANK PLC be lower.” year, so as sustain the growth re6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC 6.00 NOV 08, out 2018 that alised last year. He however pointed B+/Fitch; B+/S&P GTBANK PLC APR 22, year 2019 B+/Fitch; BB-/S&P BANK PLC 2015 would be a6.25 He said: “Last year,ZENITH we grew tough for 8.75 May 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC loan book by 26 per cent, but if banks, saying that given the 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC you factor youPLC IItraction that Fidelity Bank 9.25/6M USD LIBOR+7.677 JUN had 24, 2021 B-/Fitch; B/S&Pin devaluation, ACCESS BANK

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

187.53

gained, he anticipates a greater 182.82 financial year for the financial institution. 11-Feb-13 10.20 12.00 10-Jul-14 noted that 11.25 the 2014 12.95 Okonkwo performance was a positive rein- 24.95 forcement of the medium-term 21.98 strategic objectives, which are Outstanding Value Issue Date Coupon (%) anchored on the following pil- ($mm) lars: improving the efficiency of the balance the 500.00 07-Oct-11 sheet; growing 6.75 retail and SME businesses; focus12-Jul-13 5.13 500.00 ing on niche corporate banking 12-Jul-13increased6.38 segments; migration 500.00 of customers to electronic chan-1,500.00 nels and improving the customer1,560.34 experience across all service channels. 19-May-11 7.50 500.00 He 25-Jul-12 explained that the bank 350.00 7.25 has a 09-May-13 solid platform 6.88 for growth, 300.00 underpinned 08-Nov-13 by strong 6.00customer 400.00 22-Apr-14 6.25 loyalty and significant invest- 500.00 8.75 200.00 ments21-May-14 in physical and electronic 07-Aug-13 8.25 300.00 distribution 24-Jun-14 channels. 9.25 400.00

8.00/2Y USD SWAP+6.488 JUL 23 2021

23-Jul-14

8.00

450.00

23-Jul-21

9.34

93.00

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

10.11

9.40

93.00

96.13

TOTAL OUTSTANDING VALUE

FMDQ Daily Quotations List

TOTAL MARKET CAPITALISATION

3,650.00

19-May-15

3,505.20

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 37 FGN Bonds 44 51 58 Rating/Agency 65 72 79 86 100 107 114 128 135 149 NA 163 177 198 212 233 240 247 254 261 TOTAL OUTSTANDING VALUE 268 275 TOTAL MARKET CAPITALISATION 282 289 303

Rating/Agency 310

4-Jun-15 11-Jun-15 25-Jun-15 2-Jul-15 9-Jul-15 16-Jul-15 Issuer 23-Jul-15 30-Jul-15 6-Aug-15 13-Aug-15 27-Aug-15 3-Sep-15 10-Sep-15 24-Sep-15 1-Oct-15 15-Oct-15 NA 29-Oct-15 12-Nov-15 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

338 Agency Bonds

11.84 12.87 12.95 12.79 10.05 12.34 Issue Date 12.24 11.23 16-Aug-13 11.04 27-Apr-12 11.74 27-Jul-07 11.58 31-Aug-07 11.36 30-May-08 12.93 12.96 29-Jun-12 13.03 23-Oct-09 13.03 13-Feb-15 13.50 27-Jan-12 13.36 14-Mar-14 12.91 28-Nov-08 12.81 22-May-09 12.63 20-Nov-09 13.78 23-Jul-10 12.91 13.59 18-Jul-14 13.03 13.36 13.17 13.54 13.17

17-Mar-16

13.31

24-Mar-16

13.46

7-Apr-16

13.51

13.26

21-Apr-16

13.40

13.15

Issuer

324

12.09 13.12 13.20 13.04 10.30 12.59 Description 12.49 11.48 ^13.05 16-AUG-2016 11.29 ^15.10 27-APR-2017 11.99 9.85 27-JUL-2017 11.83 9.35 31-AUG-2017 11.61 10.70 30-MAY-2018 13.18 13.21 ^16.00 29-JUN-2019 13.28 7.00 23-OCT-2019 13.28 15.54 13-FEB-2020 13.75 ^16.39 27-JAN-2022 13.61 ^14.20 14-MAR-2024 13.16 15.00 28-NOV-2028 13.06 12.49 22-MAY-2029 12.88 8.50 20-NOV-2029 14.03 ^10.00 23-JUL-2030 13.16 13.84 ^12.1493 18-JUL-2034 13.28 13.61 13.42 13.79 13.42

Description

352 5-May-16 0.00 FMB 13.27 24-MAY-2015 FMBN and not the duration *for the Amortising bonds, the average life is calculated 17.25 FMB II 03-APR-2017

13.06

12.15 13.23 13.38 13.25 10.45 12.85 Coupon (%) 12.77 11.75 13.05 11.57 15.10 12.34 9.85 12.23 9.35 12.02 10.70 13.75 13.85 16.00 13.97 7.00 14.04 15.54 14.65 16.39 14.58 14.20 14.18 15.00 14.13 12.49 14.04 8.50 15.45 10.00 14.45 15.31 12.1493 14.67 15.12 14.93 15.43 15.01

Bonds

14.96

Issue Date 15.20

13.21

Tenor O/N 1M 3M Outstanding 6M

(N'bn)

Value

Rate (%) 53.6667 14.7283 15.6718 17.0153

4,746.32

41.67

O/N

44.33

REPO Tenor Rate (%) TTM (Yrs) Bid Yield (%)

Maturity Date

581.39 16-Aug-16 476.80 NITTY 27-Apr-17 20.00 27-Jul-17 Tenor Rate (%) 100.00 31-Aug-17 1M 13.6518 300.00 30-May-18 2M 13.7905 3M 13.8617 351.30 29-Jun-19 6M 14.1060 233.90 23-Oct-19 9M 14.7126 193.73 13-Feb-20 12M 14.8200 600.00 27-Jan-22 573.14 14-Mar-24 75.00 28-Nov-28 NIFEX 150.00 22-May-29 200.00 20-Nov-29 Current Price ($/N) 23-Jul-30 BID($/N) 591.57 199.0000 OFFER ($/N) 199.1000 299.50 18-Jul-34

OBB

Call 1M 1.24 3M 1.94 6M

26.00 26.25 13.83 26.50 13.78 27.00

Tenor

Spot 7D 14D Offer 1M Yield (%) 2M 3M 13.69 6M 13.69 1Y

2.19 13.73 13.64 2.29 13.73 13.64 3.03 13.71 13.58 :Benchmarks 4.11 13.71 13.61 * :Amortising 4.43Bond 13.64 13.53 µ :Convertible 4.74Bond 13.61 13.53 AMCON: Asset Management Corporation of Nigeria 6.69 13.51 13.44 FGN: Federal Government of Nigeria 8.82 13.60 13.54 FMBN: Federal Mortgage Bank of Nigeria 13.53 Finance Corporation 17.23 17.17 IFC: International 14.01 17.83 Management 17.75 LCRM: Local Contractors Receivables 14.51 Aviation Handling 18.52 Company 18.42 NAHCO: Nigerian O/N: Overnight 15.18 15.54 15.47 UPDC: UAC Property Development 19.16 13.61Company 13.56

NOTE:

WAPCO:West Africa Portland Cement Company

Bid ($/N)

Offer ($/N)

198.04 198.14 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 99.08 99.23 206.28 213.47 102.16 102.31 220.29 226.27

92.83 92.98 91.62 91.77 92.73 93.03 NA :Not 106.98 Applicable 107.28 ^ : Market Prices 78.44 78.74 # : Floating Rate Bond 106.51 106.81 ***: Deferred coupon bonds 112.38 112.68 103.00 103.30 ‡ : Bond rating under review 88.41 expired 88.71 †: Bond rating 73.10 N/A :Not 72.80 Available 50.04 {r} :Issuer in receivership 50.34 68.00 68.30 NGC: Nigeria-German Company 90.08 90.38 UBA: United Bank for Africa

4,441.82 Coupon (%)

Outstanding Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

24.56 2.40 112.22 116.70 66.49

24-May-15 03-Apr-17 08-Dec-16 19-Apr-17 06-Jul-17

0.01 1.00 1.56 1.92 2.13

2.63 2.27 2.00 2.66 2.85

16.44 16.86 15.75 16.40 16.58

99.71 100.40 100.30 101.47 97.78

INDEX 17.37

YTD Return 98.57 (%)

15.35 15.30

13.02

15.21 24-May-12 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

Risk Premium is a combination of credit risk and liquidity risk premiums 0.00/16.00 LCRM 08-DEC-2016 **Exclusive of non-trading t.bills ***LCRM 0.00/16.50 LCRM II 19-APR-2017

0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

322.38

TOTAL MARKET CAPITALISATION

FMDQ FGN BOND INDEX322.89

Sub-National Bonds A/Agusto

Modified Duration Buckets KADUNA

Porfolio Market Value(Bn) 12.50 KADUNA 31-AUG-2015

A-/Agusto

*EBONYI

BBB+/Agusto

*BENUE

13.00 EBONYI 30-SEP-2015 1,438.94 14.00 BENUE 30-JUN-2016

‡ /Agusto

*IMO

3<5

1,214.70 15.50 IMO 30-JUN-2016

A+/Agusto; ‡ /GCR

LAGOS

10.00 LAGOS 19-APR-2017 654.03

‡ /Agusto ‡ /Agusto

*BAYELSA Market EDO

13.75 BAYELSA3,307.67 30-JUN-2017

‡ /Agusto; A+/GCR

*DELTA

Bb-/Agusto; A-/GCR

Total Outstanding Volume(Bn)

1,409.48 1,124.68 871.07

Weighting by 31-Aug-10 Outstanding Vol

30-Sep-10 41.39 30-Jun-11 30-Jun-09 33.03 19-Apr-10 25.58

Weighting by Mkt 12.50 Value

Bucket Weighting 8.50

13.00

2.16

14.00 43.50

4.86 0.41

15.50 36.72

5.73 0.33 57.00 0.26 25.73 1.00

10.00 19.77

30-Jun-10 100.00 30-Dec-10

13.75 100.00 14.00

14.00 DELTA 30-SEP-2018

30-Sep-11

NIGER

14.00 NIGER II 4-OCT-2018

‡ /Agusto; A-/GCR†

*EKITI

Bb-/Agusto

*NIGER

‡ /Agusto; A-/GCR

% Exposure_ 31-Aug-15 Mod_Duration

Implied0.28 Yield

30-Sep-15 19.05 30-Jun-16

0.37 13.76 0.64

30-Jun-16 38.69 19-Apr-17 42.26

0.64 13.55 1.92 14.75 1.18 14.10

25.00

30-Jun-17 100.00 31-Dec-17

14.00

30.81

30-Sep-18

2.00

04-Oct-11

14.00

9.00

04-Oct-18

2.01

14.50 EKITI 09-DEC-2018

09-Dec-11

14.50

13.73

09-Dec-18

1.99

14.00 NIGER III 12-DEC-2018

12-Dec-13

14.00

10.20

12-Dec-18

1.99

*ONDO

15.50 ONDO 14-FEB-2019

14-Feb-12

15.50

27.00

14-Feb-19

2.19

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

2.62 4.51 2.58

14.00 EDO 31-DEC-2017

3,405.23

2.62

Implied 4.44 Portfolio Price

3.23 105.2992 4.46

16.81 1,179.77 19.05

3.48 111.9324 1.00 78.5400 1.00 100.6449 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 1.00

18.07 1,116.87 14.74 1,103.89 15.29 1,137.28 15.51 15.53 14.73 14.73 18.51 14.73 14.72 14.64 14.72

98.63 6.4916 97.10

98.48 10.3006 92.30 9.6195 98.39 7.7802 96.80 97.48 98.73 99.60 93.07 101.28 101.51 99.56 100.05

NEW TELEGRAPH WEDNESDAY,MAY 20, 2015

Tribunal orders substituted service on Umahi, PDP Uchenna Inya ABAKALIKI

he election petition tribunal sitting in Abakaliki, Ebonyi State, yesterday ordered a substituted service on the state Governor-elect, Chief Dave Umahi and the Peoples Democratic Party (PDP), over the petition filed by the Labour Party governorship candidate in the April gubernatorial election, Chief Edward Nkwegu, challenging the declaration of Umahi as the winner of the poll. Chairman of the tribunal, Justice Theresa Aladi Ikoje, gave the order following an exparte motion brought before the tribunal

by the lead counsel to Chief Nkwegu, Kenneth Ogodo. In her ruling, Justice Ikoje ordered that the originating processes of the substantive matter be served on Umahi, by pasting it on his country home in Uburu, in the Ohaozara Local Government Area. The tribunal also ordered that the originating processes be served on the PDP, the second respondent to the suit, by pasting it on the gate of the Secretariat of the party on Abakaliki/ Enugu Highway. Earlier, counsel to Chief Nkwegu, Kenneth Ogodo, said it has been a little bit difficult to effect service on the respondents. Nkwegu is seeking,

News 47

SOUTH-EAST

among other things, a declaration that the election of Umahi as the winner of the governorship election was wrong as the election was marred by widespread irregularities and non-compliance with the Electoral Act 2010 and the INEC 2015 election guidelines. He is also praying the tribunal to declare that the first respondent, (Umahi), was not duly elected by majority of

lawful votes cast. Nkwegu is further urging the tribunal to nullify the election and the return of Umahi, as the winner and instead declare that he was duly elected by majority of lawful votes cast in the governorship election or, alternatively, nullify the entire governorship election held in all the polling units in the state and conduct fresh polls.

Elechi denies acquisition of communities’ land Uchenna Inya ABAKALIKI

bonyi State Governor Martin Elechi yesterday warned some displaced residents of Igbeagu, Inyimagu Unuphu and Agbaja Unuphu communities, Abakaliki, said to be spoiling for war against the government over alleged unlawful acquisition of their land by the government against any act of violence. The warning came as the governor said some people were trespassing on a parcel of said to have

been acquired by the government about six years ago, warning that they should desist from any destruction of government facilities in the area. The governor explained that his administration did not take the land from the people of the area, but from the military authority which, he said, was the rightful owner of the land. Elechi, who spoke at a ceremony in the area for the construction of Secretariat Complex of the Pharmaceutical Society of Nigeria (PSN), said, “I did not forcefully snatch any land.”

Abia election tribunal begins sitting today Igbeaku Orji Umuahia

he Abia State governorship election petition tribunal will conduct its inaugural sitting today at the Abia State High Court complex, Ikot Ekpene Road, Umuahia. The tribunal is expected to hear the petition against the election of Dr. Okezie Ikpeazu of the Peoples Democratic Party (PDP), who was declared winner of the gubernatorial election in the state, by the Independent National Electoral Commission (INEC). The tribunal is specifically to handle petitions arising from the conduct of the 2015 governorship election in the state. It is, therefore, different from the three-member tribunal headed by Justice Mohammed Wakili, already sitting on the National and State

House of Assembly election petitions. The Justice Wakili tribunal had, last week, relocated to the Federal High Court complex at the Government Station layout, House of Assembly Road, Umuahia, after its inaugural sitting at the Abia state High Court complex, ostensibly to make way for the second tribunal for the governorship petitions. The inauguration of the governorship tribunal, was coming six days after the filing of petition by the All Progressives Grand Alliance (APGA) candidate in the 2015 election, Dr Alex Otti, against the election of the PDP’s candidate and Governor-elect. Otti had, last week, approached the tribunal to nullify the election of Ikpeazu, alleging that he was robbed through manipulation, contrary to the electoral act.

Ebonyi State Governor, Martin Elechi (left), laying the foundation-stone of the state’s headquarters of the Pharmaceutical Society of Nigeria (PSN) in Abakaliki …yesterday

Political lobbyists storm Ikpeazu’s home for appointments Igbeaku Orji Umuahia

ess than two weeks to the inauguration of the new government in Abia State, politicians have mounted intense lobby on the in-coming Governor, Dr Okezie Ikpeazu and his aides for appointments in the new governments to be inaugurated on May 29. The lobbyists were said to have almost relocated to Umuobiakwa in Obingwa Council Area, the country

Ibiam Poly shut over students’, communities’ unrest Charles Onyekwere ABAKALIKI

uthorities of the Akanu Ibiam Federal Polytechnic, Unwana, Afikpo North Local Government Area of Ebonyi State, yesterday ordered the closure of the institution over a clash between students of the institution and the host communities over the issue bothering on encroachment of land, which left scores injured and being hospitalized.

New Telegraph learnt that trouble started when the school authorities violated the earlier agreement reached with the owners of the disputed land in contention. The host communities were said to have severally sought to consult with the management of the institution for dialogue which was said to have been rebuffed. During the clash, properties worth millions of naira were said to have been destroyed as youths, armed

with various dangerous weapons like cutlasses and clubs from the community numbering over 1000 invaded the school, unleashing mayhem on students. The students blamed the institution’s authorities for failing to dialogue with the community on the best approach to resolve the matter, stating that it breached the agreement between it and the community by going ahead to erect structures on the disputed land without fulfilling its part of the agreement on the land.

home of the Governorelect Dr. Okezie Ikpeazu, seeking appointments. A source close to the family of the Governorelect said he was overwhelmed by the unusual horde of lobbyists milling around his residence, prompting him to ask, “who are these politicians and where are they from.’’ The source, who pleaded anonimity, observed that the swam of lobbyists were the same people in the cabinet of the outgoing governor, Theodore Orji , that were bent on

returning to government as aides or commissioners. According to him, “Since the declaration of Dr Ikpeazu as the Governor-elect by INEC, PDP office seekers report as early as 6am, on daily basis, to see him in his house. The source also described them as political jobbers – “who did not even deliver their polling booths for PDP, but kept back the cash meant for campaign without spending it, thereby giving the opposition party the opportunity to carry the day in those poll-

ing units.” The way forward, according to our source, is for Dr. Ikpeazu to look inwards and surround himself with fresh blood in order to make a change in governance. “The incoming governor would not gain any fresh idea from these job seekers in the incoming administration, what the new government needs is entirely fresh people with fresh ideas, devoid of corruption and non performance,” he advised.

Imo Poly kicks against ‘Okija shrine’ invitation to rector Steve Uzoechi OWERRI

he Management of the Imo State Polytechnic, Umuagwo, has dismissed a purported invitation letter from the Okija shrine, inviting the Rector of the institution, Rev. Fr. Wence Madu, to appear before the said deity over petition written by a staff of the institution. It was speculated that

an aggrieved staff of the polytechnic had dragged the Rector to the shrine to press home some undisclosed grievances. A release signed by the Public Relations Officer of the institution, Darlington Oparaocha, however, described the speculations as misguided and intended to malign the Rector and the polytechnic authority. Oparaocha maintained that there was no crisis in the school

which is evident in the fact that while other sister institutions within Imo State and beyond were still in their first semester, Imo Polytechnic was already in its second semester. The release, however, conceded that a purported letter from ‘Okija Shrine’ to the rector had since been handed over to the appropriate security agencies for thorough investigation to unmask the people behind it.

News

‘Pipeline surveillance contract encourages criminality’ Clement James Calabar

he Special Adviser to the Cross River State Government on Security Matters, Mr. Rekpene Bassey, yesterday kicked against the N9 billion pipeline surveillance contract awarded to ex-militants, saying it encourages criminality. Bassey stated this in

WEDNESDAY,MAY 20, 2015 NEW TELEGRAPH

SOUTH-SOUTH

Calabar while speaking with the Commander, Nigerian Navy Ship Victory, NNS Victory, Commodore Marcus Jack Bombai, who paid him a courtesy call in his office as part of his familiarisation visit to stakeholders in the state. He said what the Federal Government did by awarding such contracts to militants would encourage others to take to criminality. “The militants have

been asked to lay down their arms, but now the Federal Government is awarding them a contract worth N9 billion to secure oil pipelines and they are going to do so with arms, which may lead to more criminality in the country,” Bassey argued. He insisted that if half of the amount is allocated to the Nigerian Navy, Nigerian Army and the Nigerian Security and Civil Defence Corps, the capaci-

ty of the security agencies to secure the country’s waterways and oil pipelines would be better enhanced. According to him, the money could be used to procure better platforms and equipment for the security agencies to do a better job than giving it to the militants who, he said, would encourage others to see criminality and militancy as a way of accessing easy money from the Federal Government.

Protest as court adjourns 36 months’ debt suit Dominic Adewole ASABA

ew minutes after the Federal High Court 1 in Port Harcourt, Rivers State, adjourned the suit filed by the JTF House Boat Owners Coalition against the Ministry of Defence, protesters yesterday stormed the courtyard. Thirteen house boats were hired by the Joint Task Force (Operation Pulio Shield) for security surveillance of crude oil explorations in the creeks of the Niger Delta region till June 2, 2015. The protesters, comprising Etukcom Integrated Service Limited, Peaches Integrated Limited and Godsam Industrial Services Limited, were angry over the unwillingness of the ministry to clear the three-

year-old debt, despite all entreaties. The Managing Directors of the companies in the matter, Dr. Etiese Etuk, Prince Edwin Ochai and Mr. Godwin Amusa respectively, said they had been providing services for the JTF for the past 36 months, lamenting that they had neither been paid nor had their boats released to them. The spokesperson of the placards-carrying protesters, Mr. Eberiere Otomewo, said the ministry was indebted to the tune of N2.4 billion as at December last year, maintaining that; “We have brothers and sisters that have died as a result of the inability to pay medical bills, our equipment are deteriorating and yet, we have been begging them to pay us our money.”

Edo embarks on roads rehabilitation Cajetan Mmuta BENIN

E L-R: Chairman, Nigerian Union of Journalists, Rivers State Council, Mr. Opaka Dokubo; Manager, Elohim Consult, Mr. Peter Osanobi and Rivers State Commissioner for Information, Mrs. Ibim Semenitari, during the inspection of newly-built NUJ secretariat in Port Harcourt …yesterday

Rivers Assembly not Amaechi’s rubber stamp, says Deputy speaker Emmanuel Masha Port Harcourt

he Deputy Speaker of the Rivers State House of Assembly, Rt. Hon. Leyii Kwanee, representing Khana II constituency, has dismissed reports that the House is a rubber stamp of Governor Chibuike Rotimi Amaechi. He said the legislative arm of government was too important to be a

rubber-stamp, but has a cordial working relationship with the governor. Kwanee, who spoke at a valedictory session with the Federated Correspondents Chapel, Rivers State chapter, said the legislature was crucial to the survival of democracy, noting that the House worked in the state’s interest with the governor as an ex-lawmaker. He added that the activities of members in the last few weeks does not signify that the House was a rubber-

stamp of the governor. He said: “The governor himself was a lawmaker for eight years, and he received local and international awards as speaker,” adding that “parliamentary confraternity” was a key factor in how lawmakers, both former and serving, relate. This, he said, has defined why he has a cordial relationship with the lawmakers, who failed in their bid to impeach the governor. “There is what we call

parliamentary confraternity. Once a lawmaker, the relationship with lawmakers remain for life. As I speak with you, my relationship with all the lawmakers is very cordial,” he said. He added that the fracas in the Assembly during the failed impeachment of Amaechi could have crippled democracy in the state, but that the lawmakers resolved to work tirelessly to ensure that governance continued in the interest of the people.

Nigeria’ll be better under Buhari, says Oshiomhole’s aide Cajetan Mmuta BENIN

enior Special Assistant to Governor Adams Oshiomhole on Media, Curtis Ugbo, yesterday urged Nigerians not to despair even with the current state of affairs in the country. He said with the change of power and with General Muhammadu Buhari in office from May 29, ‘Nigeri-

ans will heave a sigh of relief.’ Ugbo, who spoke against the backdrop of the alleged payment of N400 million owed oil marketers by the present administration for the importation of petroleum products, noted with concern that the PDP government in the last 16 years has inflicted hardship on Nigerians with policies meant to pauperise the citizenry. He expressed confi-

dence that the APC-led government would bring about positive economic changes to address some of the challenges confronting the nation. According to him, “We are confident that Buhari’s administration will bring about positive economic changes in the country, especially in addressing the huge corruption practices in the oil and gas sector.” He recalled that; “It was Buhari that built

the existing refineries when he was in goverment during the military era; so why can’t we have new refineries for our people so that people of the Niger Delta will have more jobs?” The senior special assistant tasked the President-elect to embark on total overhaul of the down dream sector of the petroleum industry with a view to blocking all leakages and oil theft.

do State government has embarked on massive rehabilitation of dilapidated link roads in the capital city, Benin. The rehabilitation work, being carried out by the state-owned Rapid Response Agency (EDRRA) and other areas, has given a major boost to vehicular movement and pedestrians and, in the process, has reduced traffic gridlock in the city.

Some of the residents who spoke with New Telegraph yesterday expressed satisfaction with the on-going rehabilitation of the roads, which they said, has brought relief to them. Apart from the repairs and reconstruction exercise, the people living along Second East Circular Road linking Sapele Road and Akpakpava, said they have cause to celebrate and show gratitude to the administration for remembering them.

‘In-fighting, wrong choice of candidates, bane of PDP in 2015 polls’ Chris Ejim

Yenagoa

he disciplinary committee set up by the Peoples Democratic Party (PDP) in Bayelsa State to probe alleged anti-party activities of some political appointees and elected officers was yesterday told that the dismal showing by the party in the just-concluded elections was due to in-fighting, mistrust and wrong choice of candidates for the polls. The committee headed by Hon. Cleaopas Moses, during the hearing was told by summoned party members, including aides to Governor Seriake Dickson that the dismal performance of the party in Brass, Kolokuma/Opokuma were due to unsettled crises among members of the party before, during and after the polls. Out of the seven people summoned, six appeared with Hon. Seibarugu, the

former Deputy Governor during Governor Timipre Sylva’s administration, shunning the invitation. Among those that appeared before the committee include a Commissioner in the House of Assembly Commission, Ikoko Philip Mark, the Special Adviser to the Bayelsa Governor on Local Government Matters, Hon. Robinson Utolor, the Chairman of the PDP in Kolokuma/Opokuma Local Government, Beinor Concliff Feibar and the Senior Special Assistant to the Deputy Governor on Transport Matters and Logistics, Efeibor Ikemoye. While Robinson Utolor told the committee that the decision to invite him before the committee based on alleged anti-party action ‘is frivolous and embarrassing.’ He said rather than being accused, he should be commended for working for the party and securing victory for the party in his area.

NEW TELEGRAPH wednesday, may 20, 2015

News 49

NORTH

Sambo: Almajiri schools meant to arrest child begging Mohammed Kawu Bauchi

ut-going Bauchi State Governor, Isa Yuguda, yesterday said that

Taraba inaugurates new caretaker chairmen Sabiu Mustapha JALINGO

his administration has introduced the payment of N5, 000 monthly allowance to each of the 11, 000 Qur’anic teachers in the state to motivate them to impact knowledge to the pupils. Yuguda spoke through the Director General of Tsangaya Education in the state, Ustaz Sayyadi Aliyu Dahiru Bauchi, at the inauguration of Almajiri School at Kangere village in Bauchi Local Government area of the

state. The ceremony was performed by the VicePresident, Mohammed Namadi Sambo. The Vice-President had, while inaugurating the project, said the Federal Government’s resolve to construct modern Tsangaya schools was geared towards surmounting the problem of child begging associated with the Almajiri system that is predominant in the northern part of the country.

Sambo, represented by the Bauchi State Commissioner for Education, Mohammed Aminu Ibrahim, said the gesture was aimed at transforming the ‘Almajiri’ education system, so that pupils can acquire both Qur’anic and Western education simultaneously. The Vice-President lamented that there are over nine million Almajiris in the northern part of the country, who do not have access to West-

ern education, hence the need to build the modern ‘Tsangaya’ schools in parts of the nation to enable pupils acquire basic knowledge. He recalled that the Federal Government had earlier built three of such schools in Buzaye, Sade and Azare towns, which are jointly managed by the federal and state governments, saying the new one was requested by Sheikh Dahiru Usman Bauchi, for his pupils.

araba State yesterday inaugurated new local government caretaker chairmen for the 16 council areas. The ceremony, which was held yesterday at the Government House, Jalingo, was upon the approval of the list of the new caretaker chairmen and members of their respective councils by the state House Assembly, which was sent by the Acting Governor, Alhaji Sani Abubakar Danladi. In his remark shortly after the new caretaker council chairmen were sworn in by the state Chief Judge, Mrs. Josphine Tuktur, the Acting Governor said it has become necessary for the government to form the caretaker committees for the 16 council areas since the tenure of the local government executives had expired and the State Independent Electoral Commission cannot conduct fresh elections due to financial constraints.

L-R: Former Borno State Deputy Governor, Abubakar Jato; Chairman, State Emergency Management Agency (SEMA), Mohammed Kanar; Deputy Governor, Alhaji Zannah Mustapha and Director, Search and Rescue, NEMA, Air Commodore Charles Otegbade, after a meeting with the state government officials on NEMA assessment visit to Maiduguri, Borno State …yesterday. PHOTO-NAN

Bauchi workers’ strike disrupts transition process

Dan Atori

Bauchi

fter two weeks of drama, the battle between the executive and the legislature in Niger State seems to have come to an end as investigation revealed that the state government has met some of the demands of the lawmakers by releasing some funds for their welfare. It was reliably gathered at the House of Assembly that each member of the House received N17 million as part of their allowances, which have not been paid since February. However, when our correspondent called the Speaker, Rt. Hon. Isah Kawu at 4.53pm

Biodun Oyeleye Ilorin

wara State Governor, Alahji Abdulfatah Ahmed, has described the resolution of the crisis between members of the Nigeria Governors’ Forum (NGF) and the election of a new leadership for the body as a victory for democracy. Ahmed made this assertion in a congratulatory message to the new Chairman of the forum and Zamfara State Governor, Alhaji Abdulaziz Yari and the new Chairman of Northern Governors’ Forum, Alhaji Kashim Shettima, the governor of Borno State. Ahmed, in a statement by his Chief Press Secretary, Abdulwahaab Oba, said Nigerian governors have displayed high level of political maturity in resolving the crisis, which almost set the body into irrelevance in national politics. He said with these elections and peaceful resolution of the needless polarisation of the body, the NGF has now been repositioned for the immeasurable benefits of a peer review body.

Plateau signs N30bn housing project

Niger lawmakers, executive settle differences MINNA

Ahmed hails resolution of NGF crisis

yesterday to get his side of the story, he said: “I am sorry I cannot speak with you on phone.” After requesting for a meeting with him, he said: “I cannot speak on the matter whether on phone or anywhere.” This development, according to the source, has brought calm to the House, especially as there are no more moves to impeach the governor, Dr. Babangida Aliyu. It will be recalled that the state government on its part instructed the Commissioner of Police to withdraw his men from the Assembly, thereby giving the lawmakers free access to their offices. The Chief Press Secretary to the Governor, Mr. Israel Ebije, however,

denied the feelers, saying the executive and legislative arms never had issues as regards finance. Ebije, speaking on phone said: “No money has exchanged hands. In fact, last month’s allocation from the Federation Account to the state was N1.7 billion and government has to raise N2.8 billion to augment workers’ salaries. “The members of the House are aware of the state's financial status as what is on ground is not enough to pay workers. What they (legislators) wanted was a change of House leadership and I am sure this has been settled. Their calmness has nothing to do with any financial settlement by the governor,” Ebije said.

Mohammed Kawu

he All Progressives Congress (APC) in Bauchi State has expressed worry over the strike by workers in the state over the nonpayment of their two months’ salaries. The party claimed that the strike is a setback to the current transition process put in place before the May 29 hand over date. A statement signed by the Deputy Governorelect, Nuhu Gidado and made available to the media yesterday, said the strike by the workers has become injurious to the on-going transition process. “We wish to call on the Nigeria Labour Congress

(NLC), the Trade Union Congress (TUC) and the Joint Action Committee (JAC) to note that the on-going strike action resulting from the nonpayment of salaries to workers has become injurious to the transition process,” Gidado said. He appealed to the workers to shelve the strike in the interest of the transition process to ensure a smooth transition from the out-going PDP administration to the in-coming APC administration. The Deputy Governorelect while calling on the Yuguda administration to hasten the payment of outstanding salaries to the workers, expressed dismay with the financial indebtedness to the workforce by the administration.

Musa Pam Jos

he outgoing administration of Governor Jonah David Jang in Plateau State has signed a N30 billion contract to build new housing units for civil servants in the state. The contractual agreement was signed yesterday at the new Government House Rayfield, Jos, on behalf of the government by the Commissioner for Urban Development, Hon. Sylvanus Dongtoe, while Mr. Odia Femi Emeya and Prince David Yilbel, signed on behalf of Mamak Nigeria Limited, the contractor handling the project. He said the decision to build houses for civil servants is to reduce the housing deficit within the Greater Jos Master Plan, saying the Plateau State government and Mamak Nigeria Limited have gone into a Public Private Partnership, to build 3, 500 houses for its civil servants at the cost of N29, 312, 594,587.05 billion.

News

WORLD | News

Nnamani: Four companies arraigned over N5bn money laundering Akeem Nafiu

our companies were yesterday arraigned at a Lagos Federal High Court by the Economic and Financial Crimes Commission (EFCC), over an alleged N5 billion money laundering charges preferred against a former Enugu State Governor, Dr. Chimaroke Nnamani. The companies, Rainbownet Nigeria Limited, Cosmos FM, Capital City Automobile Nigeria Limited and Renaissance University Teaching Hospital, were arraigned on a

nine-count charge before Justice Mohammed Yunusa. The arraignment of the four companies followed an application filed by the anti-graft agency which sought a separate trial for the former governor and the four companies. EFCC was compelled to initiate the fresh application following Nnamani’s frequent medical treatment abroad which had dragged the matter for over seven years without any headway. In the charge, the four companies were alleged to have between February and March 2007, failed to

comply with the lawful inquiry of Mr. Ibrahim Lamode, who was then EFCC’s Director of Operations, to investigate the alleged offences by not releasing their cash book, fixed assets, various vouchers and cheques. They were also alleged to have failed to give the breakdown of their trade creditors and showing their names and amounts from 2002 till 2006. The offences according to the EFCC lawyer, Kelvin Uzozie, were punishable under Section 38(2) of the Economic and Financial Crimes Commission Act, 2004.

Firm drags foreign partners to EFCC Tunde Oyesina ABUJA

Nigerian firm, Phoenix Tide Offshore Nigeria Limited, has dragged its foreign partners, Tidewater Marine International Inc before the Economic and Financial Crimes Commission, EFCC, over alleged economic sabotage. The firm, however, asked the anti-graft agency to investigate the foreign company. In a petition to the

EFCC signed by the company’s Executive Director, Chidi Spencer Ochor, the company said that Tidewater might be owing the Federal Government billions of naira in taxes and other dues. Ochor said that in breach of agreement between the two firms, Tidewater had refused to account for proper, true and genuine accounts of the operations of PhoenixTide but only made payments of commission to PhoenixTide based on unverifiable figures of

the operations of the vessels bareboat chartered by PhoenixTide. An acknowledged copy of the petition dated April 24, 2015 obtained by New Telegraph reads in part, “As of date, there is about USD40.6 million outstanding liabilities incurred by Tidewater in the name of our company, PhoenixTide as its vehicle of operation in the marine services business for oil and gas, in addition to several millions of Naira due to the Federal Government of Nigeria and its agencies.”

Glo to sponsor 2015 African Fashion Week

lobacom, has thrown its weight behind the second edition of African Fashion Week Nigeria (AFWN) as sponsor. The event is scheduled to hold in Lagos in May. It will be a platform for promotion of made-inNigeria designs and will also create visibility and awareness for indigenous designers. The organisers say the event will generally provide a forum for pro-

moting the work of African and African-inspired designers and fine artists globally. In a joint press statement yesterday in Lagos, Globacom and AFWN noted that the sponsorship of the second edition of AFWN by Globacom further demonstrated Globacom’s commitment to the promotion and sustenance of African arts and culture. “Globacom identifies with the objective of the

organisers to promote emerging Nigerian designers, within and outside the shores of the country. We will continue to be associated with the development of Nigeria and Africa’s rich culture and its works of art,” the statement added. Globacom says it sees the African Fashion Week Nigeria as an opportunity to showcase Africa’s rich cultural heritage and Nigeria’s fast rising fashion industry.

Nigeria loses $2.7bn to smuggled poultry products yearly Dele Alao

igeria loses not less than $2.7 billion worth of poultry products to smuggling activities on yearly basis. That poses a great challenge to the growth of the industry. The President, Poultry Association of Nigeria (PAN), Dr. Ayoola Oduntan, said this yesterday in Lagos during the 3rd PAN Summit. According to Oduntan,

the annual poultry products consumption of the country totalled 8.8 kilogrammes, out of which only 2.2 kilogrammes were legally produced in the country, while the bulk of remaining 6.6 kilogrammes enter into the country through smuggling. “Over 1.2 million metric tons of smuggled poultry products like frozen chickens and turkeys enter into Nigeria on a yearly basis. Nigeria cannot continue to be a sub-

tle dumping ground for all kinds of poultry and poultry products. It has been proved that these chickens are stored with carcinogenic chemicals,” he said. He added that the industry could be further threatened by the negative effects of the Economic Partnership Agreements (EPA), signed by ECOWAS leaders in July 2014 at Accra, Ghana and the coming into force of the Common External Tariffs (CET).

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Sri Lanka’s president marks anniversary of war’s end

ri Lanka’s new president pledged his support for the military as he marked six years since the end of the civil war yesterday; a day after his predecessor accused him of forgetting the country’s “war heroes”. Maithripala Sirisena pledged to ensure that the Tamil Tigers, who waged a violent 37 year campaign for a separate homeland on the island, never raised their heads again as he attended a military parade to commemorate fallen soldiers. Sirisena took power in Sri Lanka in January after winning an elec-

tion against the country’s strongman former leader Mahinda Rajapakse, who oversaw the military crushing of the Tamil Tiger rebels in 2006. He has pledged to bring about reconciliation with the island’s Tamil minority, who have long faced discrimination, but also needs the support of the Sinhalese majority ahead of parliamentary elections expected to be held later this year. “I assure you that I will make every effort to ensure national security,” Sirisena said during commemorations yesterday previously known as “Victory Day”

but now renamed “Armed Forces Day”. “I will not allow the brutal LTTE (Liberation Tigers of Tamil Eelam) terrorism to raise its head ever again. “I have the fullest confidence in you (the troops) to safeguard the security of our motherland,” he said, accusing his rivals of peddling “false propaganda” against the government. Rajapakse, who is reported to be seeking a political comeback, had earlier accused the government of forgetting the country’s “war heroes”, citing the more low-key commemorations under Sirisena.

Sri Lankan police officers march with a ceremonially dressed elephant calf during a Victory Day parade in Matara.

Burundi protesters defy calls to end anti-government demonstration

rotesters opposed to Burundian President Pierre Nkurunziza called for him to step down yesterday, defying warnings to end weeks of demonstrations as security forces fired shots to restore order after a failed coup. In one district, civil society leader Dieudonne Bashirahishize led more than a thousand protesters to observe a minute of silence “for the martyrs of the fight for freedom”, calling on people to “overcome our fear and

continue to demonstrate despite threats”. At least 20 people died in weeks of street battles with security forces before demonstrations ended last week when generals launched a failed coup attempt, but protests resumed again on Monday. Hundreds gathered in groups in several districts of the capital Bujumbura, dancing and chanting “No to violence!”, although others gathered up piles of stones, apparently in case of at-

tack by security forces. Others set up barricades in the streets. Opposition and rights groups say that Nkurunziza’s bid for a third five year term in power is against the constitution and the terms of the peace deal that brought an end to the country’s 13 year civil war in 2006. Groups scattered as troops fired warning shots, gathering again elsewhere to resume protest chants. Several protesters had swollen or bloody faces.

US charges three Chinese professors, three others with economic espionage

he US government charged three Chinese professors and three other Chinese nationals with economic espionage and stealing trade secrets from two companies that develop technology often used in military technologies, the Department of Justice said yesterday. The three professors from Tianjin University were charged with stealing source code and other proprietary information from Avago

Technologies Ltd. and Skyworks Solutions Inc. Avago has headquarters in San Jose, California and Singapore, and Skyworks is based in Woburn, Massachusetts. One of the suspects, Professor Hao Zhang, 36, a former Skyworks employee and one of the professors, was arrested on Friday in Los Angeles, where he had just landed on a flight from China, the Justice Department said in a statement. Prosecutors identified the other

five are Wei Pang, 35, a former Avago employee and a professor; Jinping Chen, 41, a professor and a member of the board of directors for ROFS Microsystems; Chong Zhou, 26, a Chinese citizen, Tianjin University graduate student and design engineer at ROFS Microsystems; Huisui Zhang, 34, a Chinese citizen who studied with Pang and Zhang at in California; and Zhao Gang, 39, a Chinese citizen, is the general manager of ROFS Microsystems.

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

News

International Sport

League Rendezvous LMC announces three-week break

Okagbare-Ighoteguonor: I’m learning to start well

Falcons depart for Canada in high hope

Mourinho: Real, Barca would struggle in EPL

Sport

Features

Did you know? That Ryan Giggs is the only Premier League player to score 100 goals without a hat-trick.

Eagles need fresh legs, says Kanu

Adeolu Johnson Abuja

former national team skipper, Nwankwo Kanu, has advised Super Eagles coach, Stephen Keshi, to inject fresh legs into the squad if Nigeria wants to return to its former status as a footballing powerhouse. Kanu stated this in Abuja during the opening match of the President’s Unity and Peace Football Competition in which Team Kano defeated their counterparts from Kaduna 2-1. He said the invitation of young players to the Super Eagles does not matter as long as the players can deliver citing England’s Wayne Rooney, Pele, and Brazilian captain, Neymar as examples. “The age of a particular player does not matter as long as he has the skills and can measure up to the standard,” he said. Kanu said the country at the

moment does not have a team at the senior level asking Keshi to go out and start the rebuilding process. “We have the materials all over the world. If we invite the best we will go back to the summit of African soccer we once belonged,” he explained. The former Arsenal striker said what Keshi

requires was the support of all and sundry. He reminded Nigerians that Keshi did it before and can do it again. “The coach knows what is good for him to succeed. I am only making suggestions and I cannot pick his team for him. But anyway I wish him and the country success,” he said.

Kanu also asked the Nigeria Football Federation to provide all the necessary tools to coach as much time was wasted during the process of renewing Keshi’s contract. The Eagles are billed to start their campaign for the 2017 AFCON with a game against Chad on June 13 in Kaduna.

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Editor, Sport

Ifeanyi Ibeh Sport Correspondent

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Nigeria’s Joseph Yobo battling for the ball with France’s Antoine Griezmann during the 2014 FIFA World Cup in Brazil

Olumudi

Olumudi gets better, plans Ethiopian tour Adekunle Salami

igerian marathon sensation, Aderonke Olumudi, who failed to finish the Okpekpe 10km road race on Saturday due to injury is back on her feet. Olumudi was clearly the pre-event Nigerian favourite in the women category but she sprained her ankle just about 2km into the race. The athlete who recently won gold, silver and bronze in three different marathon events in the United States told our correspondent that she decided to stop to avoid aggravating the injury. She said: “I could have managed and would have been fine with a good result but I thought of the busy schedule ahead of me in the next two months, I had to stop. “It was painful but that is behind me now. It is one of those things in sports generally. I was in good shape to win at least as the best Nigerian but God knows best.” On her immediate plans, the long distance athlete who had recovered fast from the weekend injury said she had some events lined up for July in the United Kingdom. Olumudi added: “I am back in training now. I resumed light jogging on Tuesday. I am planning to go to Ethiopia in preparation for some events I want to attend in the UK. “My plan is to train for about six weeks in Ethiopia to boost my chances in the July events. I am praying to get a sponsor for some of these trips to ease the burden I have been carrying for some time. It is not easy.”

Sport

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Ideye relishes West Brom win over Chelsea

Ideye

est Brom striker Brown Ideye of Nigeria has expressed satisfaction with the team’s 3-0 win over English Premier League champions Chelsea on Monday at the Hawthorns. Two goals from Saido Berahino and Chris Brunt led to Chelsea’s third loss in 37 games. Ideye, who came on as substitute for Berahino in

the 79th minute, described the victory as a great one for the Baggies. The Super Eagles striker took to social media site and tweeted on Tuesday: “Great win yesterday.” Ideye has appeared 24 times for the Midlands team, scoring four goals. West Brom are 13th on the league table and will face Arsenal in their final league game on Sunday.

Polo: Max Air dethrones defending champions Adeolu Johnson Abuja

ax Air have emerged as the new champions of the Peace and Unity Polo tournament which came to a colourful climax on Monday in Abuja. They did not only win the event’s highest prize but they also beat the defending champions, Keffi Ponys, to second position by a wide margin of 7-2. The scrappy Keffi Ponys who were missing the services of their best player, Argentine’s Diego White (+7), fought back to close the gap with two field goals from Bello

Buba, the country’s best player in the first and fourth chukka. However, that was as much as they could muster as Max Air added two more goals through Mohammed Sarki (+1) in a fast and furious 5th chukka and opened up a 7-2 lead to run away with the game. The race for the medium and low goals titles were no less intense and at the end, it was newcomers Aviva which edged out a solid DEFCOM side 4½-4 at the end of a pulsating encounter. The week-long polo extravaganza was full of excitement and candour particularly in the low-goal

Guards Challenge Cup race that pitted Guards Brigade against a formidable Dogonyaro Farms. Newcomers Guards Brigade defeated Dogonyaro Farms 4½-4 but the win was not enough as Maizube Farms beat them to the title on superior goal difference. Guards Polo Captain, Mustapha Junaidu, described the event as the most exciting and the most attended polo tournaments in Abuja in the last three years. He also saluted all the visiting players and the teeming polo enthusiasts for making the glamorous fiesta such a huge success.

Ighalo keen on Watford stay despite offers • As Nike, Adidas battle for Eagles striker Ifeanyi Ibeh

igeria and Watford striker Odion Ighalo admits he is flattered to be linked with other clubs, but is focused on fulfilling his dream of playing in the Premier League with the Hornets. Ighalo’s services are in high demand across Europe after his goalscoring exploits for the Hornets propelled the club to promotion. A number of Premier League sides and several Spanish sides have shown an interest in Ighalo, and although the Nigeria international is happy to be linked with other clubs he is relishing the opportunity to pit his wits against the best players in the Premier League next season with Watford. “It has always been my dream to play in the Premier League and I have achieved that opportunity with Watford,” Ighalo was quoted as saying in an interview with UK-based HITC Sport. “It is always nice to hear that other clubs are interested in you, but I leave that all up to my agent and whatever happens will happen. “My focus is making sure I am ready for pre-season and I cannot wait for the season to start so that I can test myself against the best players in the world.”

Super Falcons Oshoala (2nd left) in action against the Lionnesses of Cameroon

Falcons depart for Canada in high spirits Emmanuel Tobi

layers and officials of the women’s national team, the Super Falcons on Tuesday departed for Canada in continuation of their preparations for the FIFA Women’s World Cup billed for June 6 to July 5. The contingent flew out of the Nnamdi Azikiwe International Airport, Abuja, aboard an Air France aircraft. The Falcons who are in Group D alongside USA, Sweden and Australia, have played in all previous six editions of the FIFA Women’s World Cup, reaching the quarter finals the 1999 edition in USA. Speaking with New Telegraph, defender Onome Ebi said: “We hope to make the best of the tournament though our preparations did not go as planned. We are determined to represent Nigeria and Africa well.” Liverpool striker, Asisat Oshoala, added: “We are not scared of any team because we are ready for any

opposition. We know it is going to be tough against our opponents USA, Sweden and Australia but we are not scared.” Similarly, the team’s coordinator, Henrietta Ukaigwe, said the players are in high spirit and are poised to give their best in Canada. “We have about seven of the players from the Falconets who won silver at the U-20 World Cup in Canada and also, the experience of the senior players will come handy at the tournament,” she enthused. Coach Edwin Edem Okon and 10 other officials travelled with the listed players, while two others, skipper Evelyn Nwabuoku and inform forward Francesca Ordega, are set to join the team at the training camp in Toronto. The seven-time African champions will engage Canada in an international friendly on May 25 in Toronto as the coaching crew names the final 23 players after the warmup match.

Chika pays tribute to dad • As Chukwumerije goes home May 22 Charles Ogundiya

B Ighalo (left)

Many have tipped Watford to make an immediate return to the English lower division come the end of next season. But Ighalo, who is also at the centre of a sponsorship battle for his services between Nike and Adidas, believes the Hornets can prove doubters wrong by staying up. “I feel we have enough quality in our squad to have a successful season in the Premier League and stay up,” added Ighalo. “We sur-

prised a lot of people to win promotion from the Championship and I think we can surprise people again in the Premier League. Ighalo, who scored 20 goals this season for Watford added: “I am confident in my own ability and I am sure I will score goals in the Premier League. It will be a big test against some of the best players and teams in the world, but if I get chances to score I am sure I will score goals.”

eijing 2008 Olympics Taekwondo bronze medallist, Chika Chukwumerije, has paid tribute to his late father, Senator Uche Chukwumerije, who died on April 19, in a Turkish Hospital in Abuja at the age of 75. Chika described the father who was the former Chairman, Senate Committee on Education, as his pillar through the years. “My heart asked again where I could find Daddy Mo,” he stated. “Thus I closed my eyes and let the memories play – recollections of childhood, of teenage years, or adulthood; at each stage, the boy in me smiled back at a father who had always been there for me every step of the way. “I felt the tears roll freely out the corners of my eyes, as reality beckoned my heart.” Meanwhile, in a release by the family, the internment of the for-

Chukwumerije

mer senator will take place on May 22 in Isuochi, Abia State. The activities leading up to the event are: Night of tributes at the Sheraton Hotel Abuja on Wednesday (today) May 20, while the Wake Keep has been scheduled for Thursday May 21, at Isuochi, Abia State. The celebration service will come up on Saturday May 23 at the same venue to round up the burial.

International Sport 53

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Mourinho: Real, Barca would struggle in EPL

helsea manager Jose Mourinho insists Spanish giants Barcelona and Real Madrid would struggle to win the English Premier League. Chelsea were crowned champions with three games to spare but Mourinho feels the club did it the hard way as the Premier League provides no sure things like La Liga. “I was in Spain, but I didn’t enjoy it because I won a La Liga title with a record 100 points and 121 goals. But in reality we played only three or four tough matches all season. I also lost a title with 92 points, but again playing only four or five tough matches in the season,” he said. “(In EPL) You feel the pressure that you have to win every match because if you don’t you are not champions. You have to win and win and win. But it is a big, big gap between the giants and the others. “I think the difference between the two leagues (Pre-

mier League and La Liga) is huge. Would they (Barcelona or Real Madrid) win the Premier League? Maybe yes. Maybe not.” Despite no English clubs reaching the final eight of this season’s Champions League tournament, Mourinho is adamant the Premier League remains the most demanding competition in Europe. The 52-year-old used Chelsea’s 4-2 defeat against League One club Bradford City in the FA Cup in January as a prime example of how there is always the possibility of an upset in the English game. “In matches in other countries you can win matches when you are resting. In Spain and in Italy, I won lots of matches resting. “This season I rested a few players against Bradford and I lost. And that is English football. This is the reality of the Premier League. You have no time. It’s not just about the number of matches, it’s the intensity.”

Barcelona’s Neymar and Messi celebrating after scoring a goal against Real Madrid

Stoichkov: Barca stars will be too much for Juve

Milan target summer spending spree

driano Galliani has promised that AC Milan will do whatever it takes in this summer’s transfer market to restore the club to its former glory.

Galliani

The San Siro side have been struggling to compete for top honours in Serie A in recent seasons and currently sit 11th in the Italian top flight. However, Galliani is confident they can become a force to be reckoned with once again. “Milan have reached three Champions League finals in 10 years and won it twice. My goal is to help the club return to that level,” Galliani told reporters. “[Club owner Silvio] Berlusconi has a lot of desire to return to the top. We want to return to the top after a year where we have suffered a lot. We will have a big transfer campaign. It’s easy to start over again when you have the prestige Milan has. Just look at what [reigning champions] Juventus achieved. “We finished 11th in the table in 1998 and then won the Scudetto the year after. We want to repeat that and get back to the top.” Milan meet Torino and Atalanta in their last two games of the season as they aim to end on a high.

Xavi moving to Qatar, says dad

arcelona’s captain Xavi will leave the club he has served since boyhood for Qatari side Al Sadd at the end of this season, his father said on Tuesday. The 35-year-old midfielder is a stalwart of the Catalan side over recent years and one of the heroes of Spain’s Euro and World Cup-winning squads. His father Joaquin Hernandez told the Cope radio station Xavi had decided “the moment has come to say goodbye”. He said the contract with Al Sadd would allow Xavi to train as a coach as well as playing. “He is lucky to have received a really impressive offer where he can continue playing football,

train as a future coach and also rest a little.” He will give a farewell press conference on Thursday, Barcelona sports daily El Mundo Deportivo reported, citing unnamed club sources. His contract with the Spanish league champions runs until next year but he has reportedly decided to leave after the end of the current season. Barca sealed their La Liga title on Sunday with a 1-0 win away over Atletico Madrid. And Xavi was filmed weeping with joy after that win. It is his eighth title in the league and his 23rd overall with Barcelona, making him the player with most medals in the club’s history.

etr Cech’s agent has reportedly declared that the goalkeeper is ready to end his 11-year stay with Chelsea. The Czech, who turns 33 on Wednesday, has started just 14 games in all competitions for the Blues this season after Thibaut Courtois returned from his loan at Atletico Madrid to become number one under Jose Mourinho. He has kept more clean sheets than any keeper in

arcelona will beat Juventus in the Champions League final because they boast the better talent, according to Hristo Stoichkov. The newly-crowned Liga champions swept past Bayern Munich in the semi-finals 5-3 on aggregate, while Serie A kings Juve overcame holders Real Madrid to set up the showpiece in Berlin. Stoichkov, who won the European Cup with Barca in 1992, is in little doubt as to who should be favourites to lift the trophy on June 6. “Barca will win, they have the most talent,” the Bulgaria icon told television programme Al Primer Toque.

Stoichkov also had high praise for head coach Luis Enrique, whom he played alongisde at Camp Nou between 1996 and 1998. “He has a very clear vision, he is a worthy coach for Barcelona,” Stoichkov said. “Even though he was affected by [former sporting director Andoni] Zubizarreta’s departure. “He is a plus when it comes to managing the dressing room. He has character and he triumphed as a player like that.” Barca’s attacking trio of Lionel Messi, Luis Suarez and Neymar have been in fearsome form during 2015 but Stoichkov was keen to highlight the importance of the whole team during their remarkable recent form.

Cech leaving Chelsea for rival club the club’s history, but now wants to move on so that he can again play regular first-team football at a high level. Cech’s agent Viktor Kolar told the Evening Standard that some of Chelsea’s rivals both in England and across Europe were interested in signing him. “Arsenal, (Manchester) United or PSG are all top clubs and Petr would like to join one of them - definitely,” said Kolar. “Petr

expects that (Chelsea owner) Roman Abramovich, not Mourinho, will decide about his future, based on their mutual agreement from last year.” Cech has a year remaining on his contract at Stamford Bridge. During his time as a Blue, he has won the Champions League once, Premier League four times, Europa League once, FA Cup four times and League Cup three times.

Cech

Irving ready to pounce on Hawks

C Irving

leveland Cavaliers point-guard Kyrie Irving has declared himself fit to play in game one of the NBA Eastern Conference finals against the Atlanta Hawks on Wednesday. The 23-year-old has been hampered by a sore

right foot and tendonitis in his left knee of late, but feels that he is well enough to feature on Wednesday. “Just being able to actually feel both my feet underneath me, especially when I’m shooting, it feels amazing,” AP

quotes Irivng as saying. “I don’t want to be on the sideline at all, especially preparing for a big stage like this.” Irving is averaging just under 20 points per game in his first run in the playoffs.

Sport

WEDNESDAY, MAY 20, 2015 NEW TELEGRAPH

Nigerian League Rendezvous

LMC announces three-week break

with charles Ogundiya

charlesog2001@yahoo.com,

08098042287

• Time for govt to hands off - Irabor

T Rangers’ Osas Okoro (left) against Shooting Stars Yinka Adedeji (in blue) during their league game in Ibadan recently

Giwa’s Shuaibu wants league title

iwa FC striker, Ibrahim Shuaibu, has stated that his target this season is to win the Nigeria Professional Football League title. The 20-year-old striker has been in great form for the Jos-based side, leading the scorers chart with five goals after nine rounds of games.

“The season has just started and I think we are pretty good at the moment,” the striker said, before revealing his goals for the current campaign. “My targets are to win the league with Giwa FC, and also to emerge the top scorer with 35 league goals. “We want to show the world that our

performance last season was not a fluke by winning the league this season.” Giwa FC finished last season – their maiden campaign in the Nigerian top flight – in fourth place. They are currently fourth on the log with 16 points from nine matches, a point behind leaders, Sunshine Stars.

MATCHDAY 10 FIXTURES Sharks FC vs Giwa FC FC Taraba vs Dolphins Enyimba vs El-Kanemi Bayelsa vs Wikki Lobi Stars vs Heartland Akwa vs Shooting Stars Rangers vs Nasarawa Sunshine Stars vs Kwara Utd Warri Wolves vs Abia Warriors Kano Pillars vs Gabros

he League Management Company has announced a three-week break in the 2014/15 Glo Premier League beginning after games of Match Day 10. The Chairman of the LMC, Mallam Shehu Dikko, in a letter to clubs said the break period would be used amongst other things to carry out spot checks on clubs’ compliance with the NFF Clubs Certification “We started the league with blanket provisional waiver to the clubs to allow them comply with all registration requirements before Match Day 9. The break period is also a time to revisit club stadium facilities to remedy observed defects as the clubs have so far operated with provisional certificates” Dikko said. League Rendezvous however learnt reliably that the break was announced to allow clubs owned by government familarise themselves with the incoming administration. Eighteen of the clubs currently campaigning in the Nigeria Professional Football League and a few others in the lower divisions are owned by state

governments. It is difficult for some of the clubs to progress because their players are owed backlog of salaries and bonuses due to the failure of their sponsors to make funds available for the running of these teams. Since the beginning of the current season, some clubs are yet to get their annual subvention from government because the governors were busy with the elections. A former chairman and a chief Executive Officer of the LMC, Nduka Irabor, called on Nigerians to organise community-based football clubs in order to ensure a sound financial base for clubs and the continuous survival of the Nigerian league. “Most of our clubs have been hijacked by government,” Iraboh said. “Some of these clubs were formed during the military era as publicity stunts. They formed the clubs because they wanted to integrate themselves with the people but today these clubs are drain pipes where millions of naira that would have been used for other productive sectors are sunk into their running.”

Adegoke aims CBN Tennis top prize

entral Bank of Nigeria Senior Open Tennis women’s singles second seed, Sarah Adegoke, has set her sights on winning the tournament’s N700,000 star prize after comfortably breezing into the second round with a 6-1, 6-1 victory over Ebere Fortune on Tuesday. Regretting her inability to win the championship last year, after losing to Christy Agugbom in the final, Adegoke said a lot of factors, most notably fatigue, were responsible for her loss, adding that she has since put the defeat behind her as she has her eyes fixed on the winner’s trophy this year. Despite her confidence, Adegoke has a big task ahead of her on Wednesday as she faces Russian-born Nigerian, Melissa Ifidzhen in the second round. Ifidzhen defeated Henrietta Ogude 6-1, 6-1 on Tuesday to book her place in the second round. Also on Tuesday, defending champion and women’s top

seed, Agugbom, defeated Rita Obasogie 6-0, 6-0 to advance to the second round. Also victorious on Tuesday was upcoming junior player, Angel McLeod, who defeated Oluchi Ozurumba 4-6, 6-4, 6-3 just as Aanu Aiyegbusi also defeated Bukola Olowu 6-2, 6-0 to book her passage to the second round. In the men’s singles category tournament top seed, Clifford Enosoregbe lived up to expectations as he outclassed Sani Adamu 6-3, 6-3, while Nonso Madueke progressed to the next round after Aliyu Umar retired in the second set with Madueke ahead 5-1 after winning the opening set 6-1. Enosoregbe will on Wednesday face Christopher Edward, while former Nigeria number one, Sunday Maku, will come up against Samuel Akagha. Augustine Nwokedi will also take on Henry Atseye, while Umaru Balami will be up against Ikechukwu Iloputa.

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Quadri begins Croatia campaign tomorrow

Sarah Adegoke of Nigeria in action

Nadal still French Open favourite –Federer, Djukovic

afael Nadal will go into the French Open ranked No. 7, but the nine-time champion still has a high standing among his fellow players. For his rivals, however, Nadal is a top contender for the title once again, even though he has not won a clay-

court title in Europe this year. “Regardless of what anyone says to me he’s the favourite,” Roger Federer said, referring to Nadal’s record at Roland Garros. “The guy’s only lost once in 10 years.” Stanislas Wawrinka, who defeated Nadal in the

Rome quarterfinals, said that “Nadal is always the favourite on clay” and “the favourite for Roland Garros, along with Novak.” The top-ranked Novak Djokovic said he would be in favour of improving Nadal’s seeding, not least to avoid playing him in the quarters,

but added that it was up to the tournament. He also noted that Wimbledon adjusts its seedings annually. “He’s still one of the fittest guys on tour, he’s won Roland Garros nine times and he definitely deserves to be one of the favourites,” said the Serb.

nternational Table Tennis Federation Star Player of the Year, Aruna Quadri, will tomorrow (Thursday) begin his campaign at the on-going GAC Group 2015 ITTF World Tour (Croatia Open). The Nigerian is in the main draw of the singles event of the competition and he will face a yet to be known opponent tomorrow in the city of Zagreb. The tournament was still at the preround stage as at the time of filing this report but his opponent should emerge at the end of today. Quadri has not fared well in this year’s World Tours, aside a final place finish at the Lagos Open, the Nigerian has struggled in other tournaments. He opened this year’s tours with the Kuwait Open where he crashed out in the first round; he suffered the same fate at the Qatar Open and did not fare better at the Spanish Open. The player did not attend the German Open despite entering for the tournament. He has scored 81 points to occupy the 30th position in the world tour rankings. His major rival in Africa, Omar Assar, is ranked 17th after garnering 128 points.

Sport 55

NEW TELEGRAPH WEDNESDAY, MAY 20, 2015

Okagbare-Ighoteguonor: I’m learning to start well Africa’s fastest woman, Blessing Okagbare-Ighoteguonor, in this article posted on the official site of the IAAF, reveals the secret behind her recent success in Shanghai

ometimes I get it right, sometimes I get it wrong,” said Blessing Okagbare-Ighoteguonor when talking about her 100m running. Sunday night in Shanghai was one of those occasions Okagbare-Ighoteguonor, now going by her hyphenated married name, got it right. Facing a field of big-name sprinters including Olympic and world champion Shelly-Ann Fraser-Pryce, last year’s world leader Tori Bowie, fastest in the field this year MichelleLee Ayhe and Veronica CampbellBrown, Okagbare-Ighoteguonor responded by trouncing them all. Cool overcast conditions arguably put a damper on the times, but Okagbare-Ighoteguonor won by almost a full metre in 10.98. It was a stunning victory, both in itself and in its comprehensiveness. Again in Shanghai, all the talk beforehand was about others, naturally so given some of the names, but unwisely so in that it under-rated the ultimate winner. Okagbare-Ighoteguonor’s talents across sprints and jumps are prodigious. Maybe because she is so good at all, people tend to discount that possibility she can be excellent at one or, at least, one at a time. Maybe when it comes to the sprints, it is because of her obviously erratic start. Usain Bolt talked about his ‘poor’

starting so often in the early stages of his 100m sprinting, but rarely, if ever, did he get a shocker.

Shocking start

Okagbare-Ighoteguonor seems to do so regularly. Indeed, it was hard to pick the greater shock in Shanghai. Was it the fact she won, or the fact that she was in the lead the whole way and had it won at 40 metres? She alluded to this herself after the race. “Normally I don’t have the best start, but now I was leading from the beginning,” said the Nigerian sprinter. It was a familiar scenario. Okagbare-Ighoteguonor ran 10.79 at the IAAF Diamond League meeting in London in 2013 before finishing sixth in the 100m at the IAAF World Championships in Moscow. But it does prompt the question: can she make a real charge at being the No.1 in the world this year? “I feel, I think and I hope I can,” Okagbare-Ighoteguonor told reporters after her Shanghai win. “I’m working towards it. I hope it happens.” The main thing Okagbare-Ighoteguonor has been working on is the first 40 metres of her 100m. Put that part of the race together and the rest should take care of itself. “There’s been a lot of work going on,” she said. “My coach told me ‘don’t worry about the time, just go out and execute’. I think that’s what I did and after 40 me-

tres it felt extremely easy for me to go.” Despite her win, and despite last year’s 10.85/22.25 sprint double at the Commonwealth Games, OkagbareIghoteguonor said she still feels like a novice in the straight sprint.

Easy execution

“Sometimes I get it right; sometimes I get it wrong. If I get it right – which I did today, not 100 per cent, but 70 – it feels extremely easy.” Perhaps not surprisingly, this tallies with the feeling you get watching her run the 100m. If she is up and running early, you just know Okagbare-Ighoteguonor is going to be hard to beat, because she comes home like a train. Last year, Okagbare-Ighoteguonor won a 200m/long jump double in Shanghai. Diamonds may be rare, and IAAF Diamond League doubles are perhaps even rarer still, but her recent focus has been more on the sprints than the long jump. So will she long jump this year? “I will,” she promised, “because I just want to see how far I can jump.” At the minute, her best is 7.00m, which she produced in 2013. In medal returns, there is little to choose between long jump and sprints. Okagbare-Ighoteguonor has an Olympic bronze in the long jump from 2008 and a World Championships bronze in the 200m from 2013.

Okagbare-Ighoteguonor

Countdown to FIFA U-20 World Cup

Dike warns Flying Eagles on friendly results

Ruthless Flying Eagles thrash Freiburg 4-1

igeria’s Flying Eagles rounded up their friendly games in their tour of Germany with an impressive 4-1 win over the U-23 team of Freiburg on Tuesday. Standby striker Alhassan Ibrahim continued to enhance his chances of being used as a replacement, in case any of the forwards get injured before the start of the U-20 World Cup in New Zealand, by finding the back of the net for the second game running. His goal ensured the Flying Eagles went into the break 1-0

ormer junior national team coach, Alphonsus Dike, has warned the Flying Eagles not to get carried away by the impressive score lines recorded so far in the games played during their Flying training tour of Germany. Eagles of Footballlive.ng quoted Nigeria celebrating Dike as saying: “The teams after scor- they are playing right now may not be very serious; ing a goal they may just want to use the

ahead. Freiburg however drew level a few minutes into the second half, only for Saviour Godwin to restore Nigeria’s lead before Ifeanyi Matthew handed the Flying Eagles a two-goal cushion to end any hope of a comeback for the German club. Usman Sale, another player not in coach Manu Garba’s final 21-man list for New Zealand 2015, then made it 4-1 to record yet another comprehensive victory for the Nigerians who scored a total of 14 goals in their three-match tour of Germany.

matches to assess themselves and they may not have given their best or even used their best players.” Dike maintained that the teams beaten by the Flying Eagles might equally have been experimental teams using the game to assess their own side as well but expressed satisfaction with the ability of the Nigeria U-20 team to score goals noting

that it gives one reason to be sure of the team’s ability to score when things become so tight at the FIFA U-20 World Cup. “The more chances they convert, the more perfect they become and in the main competition, if things become tight, one can be sure that if they have one or two chances, they will convert it,” Dike concluded.

Hungary to arrive Thursday

ungary will be the first team to arrive in New Plymouth to complete preparations for the FIFA U-20 World Cup tournament. The Central European team are due to arrive in the city late on Thursday, several days earlier than originally planned. “They are currently in transit so we are unable to confirm with them their exact plans for their stay in Taranaki,” said Theresa Caley, spokeswoman for the local organising committee. The official welcome by

the host city for all four visiting teams to be based in New Plymouth -Nigeria, Brazil and North Korea- for games starting on June 1, will be held on May 29 at 6pm local time at Waitara’s Owae Marae. Caley did not rule out the possibility of the Hungary team playing in an unofficial warm-up match in the province before the start of the tournament proper. “That’s currently a work in progress,” she said. “We are planning to catch up with them on Friday morning to gain a better understanding of their plans.”

Hungary Coach, Geza Meszoly

On Marble I think men who have a pierced ear are better prepared for marriage. They’ve experienced pain and bought jewelry.

World Record

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The greatest weight lifted with a human tongue was 11.025 kg (24 lb 3 oz) by Thomas Blackthorne (UK) who lifted the weight hooked through his tongue on the set of Guinness World Records: 50 years, 50 Records (ITV, UK) on September 11, 2004.

Pre-election timelines

t is embarrassing and sad that we are still struggling with the provision of timelines for the disposal of pre-election matters. It is more embarrassing that pre-election cases filed just before the commencement of the 2015 elections are still at their preliminary stages in different courts in the country. It is even more embarrassing that some of the pre -election matters filed before the commencement of the 2011 elections are still pending in some of the High Courts and Federal High Courts in different states of the federation.

Pre-election disputes are disputes that arise or occur before the conduct of elections. These are matters that precede an election. They include issues of disqualification (even though this is also a post-election matter), nomination, substitution and sponsorship of candidates for an election. Because some of these things take place before the conduct of elections, the law makers in their wisdom excluded them from the domain of election tribunals. This is understandable because Courts adjudicate on live issues and not issues that are spent. Therefore any candidate that complains of a pre-election matter must pursue it before the election takes place. If due to lack of consciousness; a candidate sleeps on this vital matter, the person consciously or unconsciously takes that matter outside the domain of the courts with jurisdiction to try and/or adjudicate on them. In the main, the moment elections are conducted all other issues become post election matters and can no longer be adjudicated upon by the regular courts. It is therefore imperative to quickly address the challenge of timelines for the resolution of pre-election disputes. There is also the need to deal with or take a second look at some of the practical challenges that have arisen in the course of the practical application and implementation of timelines in relation to post election disputes. I say this because by the provisions of section 31(1) of the Electoral Act, 2010(as amended) political parties are obligated to submit the list of their candidates and affidavits not later than 60 days before the date appointed for a general election. The list or information submitted by each candidate shall be accompanied by an affidavit sworn by the candidate at the Federal High Court, High Court of a State or Federal Capital Territory indicating that he has fulfilled all the constitutional requirements for election into that office. Hence, by section 31(5) of the Act, any person who has reasonable grounds to believe that any information given by a candidate in the affidavit or any document submitted by that candidate is false may file a suit at the Federal High Court, High Court of a State or FCT against such person seeking a declaration that the information contained in the affidavit is false. If the Court determines that any of the information contained in the affidavit or any document submitted by that candidate is false, the Court shall issue an order disqualifying the candidate from contesting the election. Furthermore, section 87 of the Electoral Act, 2010(as amended) provides the rules and guidelines for the conduct of Party primary elections by political parties. Notwithstanding the provisions of the Act or rules of a political party, an aspirant who complains that any of the provisions of the Act and the guidelines of a Political party has not been complied with in the selection or nomination of a candidate of a political party for election, may apply to the Federal High Court or the High Court of a State or FCT, for redress. Part of the concerns with pre-election mat-

Hard Choices FESTUS OKOYE

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David Mark, Senate President

Justice Mahmud Mohammed, CJN

ters is that “a pre-election matter instituted prior to the conduct of an election subsists and the High Court in which it was instituted continues to have jurisdiction to hear and determine same even after the conduct of the election. The above principle is founded on the doctrine of lis pendens which prevents any transfer of right or the taking of any step capable of foisting a state of complete helplessness/hopelessness”. Now, the challenge here is that pre-election matters go through the normal court process. They go through the High Courts or Federal High Court, then to the Court of Appeal and to the Supreme Court. The Constitution does not prescribe that any one of them must terminate at the Court of Appeal. It does not prescribe the time frame for the determination of any of them. It does not prescribe the period within which any of them must be filed. So long as the matter is filed before elections, the various Courts have jurisdiction to

Attahiru Jega, INEC boss

Now, the challenge here is that pre-election matters go through the normal court process

entertain them. The Political Parties, aspirants and candidates are aware of this flaw in the electoral timelines. They are aware that they can drag the issue relating to the nomination process of their political parties to the Supreme Court. They are aware that some cases arising from the nomination, substitution and other pre-election processes prior to the 2011 elections are still pending in various courts of law. They are aware that the four year constitutional period can elapse and they will be on seat and the case will still be pending in Court. On the basis of this, some of them do unwholesome things and challenge their opponents to go to court. The opponents of course know that the Court process is a trap

and will refuse to take the bait and the end product is confusion, electoral violence and threat to peace. This was the same situation with postelection matters before the National Assembly through constitutional amendment prescribed a timeframe for their disposal. In the present dispensation, there is no rigmarole and no filibusters. The time frame for the disposal of cases is cast in stone and the Supreme Court has affirmed same. By virtue of section 285(6) of the Constitution of the Federal Republic of Nigeria, 1999(as amended) an election tribunal shall deliver its judgment in writing within 180 days from the date of the filing of the petition. Furthermore, by virtue of section 285(7) of the same Constitution an appeal in an election from the decision of an election tribunal or Court of Appeal in an election matter shall be heard and disposed of within 60 days from the date of the delivery of judgment of the Tribunal or Court of Appeal. “So, once an election tribunal gives an appealable decision or makes an order within the 180 days stipulated by the section, and aggrieved party appeals, time for the hearing and determination of the petition continues to run until the 180 days becomes exhausted. Furthermore, an appellate court has no competence or jurisdiction to extend or enlarge the period of 180 days once it expires. Moreover, there is no provision in the Constitution empowering either the Court of Appeal or the Supreme Court to extend the 60 days period for hearing and determining an appeal in an election matter once it has expired. In other words, once by simple arithmetical calculation, from the date of the delivery of the lower court’s decision, the period of 60 days has expired; the appeal is dead and cannot be heard by either appellate court. Two issues are germane. The first is the need to provide a time frame for the disposal of pre-election matters. The second is the need to mellow down the iron cast provision of section 285 of the Constitution and give the superior courts an elbow room to extend the time for the disposal of cases in deserving circumstances. The incoming government should see it as a priority to get back to the National Assembly the amendments made to section 285 of the Constitution in the 4th amendment. The National Assembly had proposed that notwithstanding anything to the contrary in the Constitution, every pre-election matter shall be filed not later than seven days from the date of the occurrence of the event, decision or action complained of in the suit. The National Assembly also proposed that a Court in every pre-election matter shall deliver its judgment in writing within 180 days from the date of filing the suit. An appeal from a decision in a pre-election matter shall be filed within 14 days from the date of delivery of the judgment appealed against; and an appeal from a decision of a Court in a pre-election matter shall be heard and disposed of within 60 days from the date of filing the appeal. The importance of this is that it will restore sanity and certainty to pre-election disputes. It will allow and enable the Independent National Electoral Commission plan properly for elections. It will also prevent the hanging of the mandate of candidates and prevent usurpers from reaping where they did not sow However, it is in the interest of justice and the omnibus powers of the courts to allow them a little discretion in the arithmetical calculation of the timelines. When we have emergences like the industrial action by the Judiciary Staff Union of Nigeria, the Courts in deserving cases can look at the circumstances of each matter and extend the time for the doing of certain things.

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotlines: (Lagos 0902 928 1425), (Abuja 0805 5118488) Email: info@newtelegraphonline.com Website: www.newtelegraphonline.com ISSN 2354-4317 Editor: YEMI AJAYI.