Wednesday, october 12, 2016 by Newtelegraphonline

Buhari wants Deziani, associates prosecuted for oil bunkering

lEx--minister part of oil theft syndicate, says president's biographer Onwuka Nzeshi ABUJA

resident Muhammadu Buhari’s frantic efforts

to arrest and prosecute a former Minister of Petroleum Resources, Mrs. Deziani Alison-Madueke,

has been attributed to her alledged complicity in an international oil bunkering syndicate.

The ex-minister is believed to have allegedly made fortunes from freighting stolen crude oil

out of Nigeria. The former minister is also being hunted because of the huge sums of money she allegedly laundered through some commercial

Osinbajo: FG to begin micro-credits scheme for artisans, women

}10

banks for the purpose of rigging the 2015 elections in selected states of the country. Alison-Madueke fled the country shortly after the 2015 general elections CONTINUED ON PAGE 4

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Wednesday, October 12, 2016

Sexual misconduct: House clears lawmakers }7

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Dogara

Kalu writes Buhari, kicks against sale of assets }4

Kalu

NASS workers, four others arrested for stealing diesel }9

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Teenage girl 'resurrects' during interment }9

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Okowa

Governor approves trial of judge over N197m bribe

NJC decides judges’fate today AGF: Nobody is above the law Senate to Buhari: Call security agencies to order }5 & 6 Reps investigate DSS over arrest of judges

L-R: Lagos State Commissioner for Information, Mr. Steve Ayorinde; Chief of Staff, Mr. Olukunle Ojo; Secretary to the State Government, Mr. Tunji Bello; Deputy Governor, Dr. Oluranti Adebule and Governor Akinwunmi Ambode, during the 3rd Quarter 2016 Town Hall meeting of the state government in Lagos…yesterday.

APC primaries: How Oyegun outsmarted Tinubu lDetailed report of NWC meetings lWhat Banire told party chair on Ondo primaries }11 - 13

Obesity: WHO seeks taxes on sugary drinks }10

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

NEWS

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Kalu writes Buhari, kicks against sale of assets

Mojeed Alabi

ormer Abia State Governor and business mogul, Dr. Orji Uzor Kalu, has expressed support for President Muhammadu Buhari’s war against corruption and suggested relevant steps to address the nation’s economic woes. Kalu, in a letter to the president, lamented the dwindling fortunes of the nation’s economy. He said the last 10 months have been a most difficult period for Nigerians, particularly the unemployed and those at the bottom of the economic ladder, whom he noted constitute the highest percentage of the nation’s population. The letter reads in part:

“Your Excellency, the last 10 months have been a most difficult period for all Nigerians, especially the unemployed and those at the bottom of the economic ladder. They constitute the majority of our people. The enthusiasm that spurred and greeted your emergence as president in 2015 had many expectations; and rightfully so, because Nigerians believe that you, the man Muhammadu Buhari, had the sincerity of purpose and commitment to usher in a new Nigeria. Our people were not oblivious of the challenges that lay ahead of you and the time it would take to get Nigeria to that Promised Land. Indeed, they were willing to be patient as long as that reassurance of a clear sense

of direction, sacrifice and integrity of purpose, justice and equity remained the guiding principle of your leadership; the signposts along new direction that you proposed to Nigerians.” Kalu insists that the president’s integrity is still undoubted, but queried the current strategies and approaches to containing what he described as the uncertainty in the land. “Some have proposed the sale of performing national assets and national interests. I tend to differ with this thinking. While I agree we should not throw good money at a hard situation, we can agree that our current economic challenge has nothing to do with an over-bloated balance sheet, where we

L-R: Chairman, Pinnacle Communication Limited, Sir Lucky Omoluwa; Minister of Information and Culture, Alhaji Lai Mohammed; Director General, Nigerian Television Authority (NTA), Mallam Yakub Ibn Mohammed and Director General, National Broadcasting Commission (NBC), Ishaq Modibbo Kawu, during the facility tour of the company in Abuja …yesterday.

Buhari wants Deziani, associates prosecuted for oil bunkering CONTINUED FROM PAGE 1

and the advent of a new government. She was reportedly down with cancer and was hospitalised in an undisclosed hospital in London. In spite of her health status, there were strong indications that the Federal Government contemplated extraditing her to Nigeria to face corruption charges. The position of the Buhari regime on the former minister was made manifest in the newly-launched biography of the president titled: Muhammadu Buhari – The Challenges of Leadership in Nigeria. Author of the book, Prof. John Paden, alleged that the former petroleum minister and her associates were at the heart of oil bunkering scandal during her tenure. The book recalled that the Buhari administration faced a major challenge in its early days as it grappled with the options on how to track stolen oil. According to the book, ships with bunkered oil often had forged documents purportedly issued by the

Nigeria National Petroleum Corporation (NNPC) and the origin of the products cannot be traced because Nigerian oil cannot be fingerprinted with precision. Most of the stolen oil, the book said, ended up in China, a situation that made Buhari visited China to explore ways for the two countries to tackle the issue. “The shipping of stolen oil to China with the connivance of Chinese criminal networks was a subject President Buhari discussed with Chinese President, Xi Jinping, who promised to cooperate. “China was in the process of cracking down on corruption and began to investigate the Nigeria oil scandals. At the heart of the oil bunkering scandals was the former minister of petroleum resources and her associates. “While Alison-Madueke was being treated for breast cancer in London, the Economic and Financial Crimes Commission (EFCC) arrested her key

associate, Donald Chidi Amamgbo, over allegations of financial crimes. He had received permission from the minister to pump billions of dollars of Nigeria’s oil despite lacking the requisite experience. “In addition, the former minister had approved billions of crude oil swaps (exchange of crude oil for other goods) without a contract, according to a former Group Managing Director of NNPC, Austin Oniwon.” The book, which was launched recently in Abuja, also chronicled other allegations of corruption levelled against Alison-Madueke. These included allegations that she paid huge sums of money into some commercial banks, which were later channelled to some members of the then ruling party, the Peoples Democratic Party (PDP), in the states ahead of the 2015 elections. According to Paden, these funds were apparently meant to bribe electoral officers to rig the polls in favour of erstwhile President Goodluck Jonathan.

must offload assets. It has everything to do with low productivity across practically every sector of our economy, brought about by a neglect of the economy and delayed action. I believe in big businesses and small government.

“Our people applaud your fight against corruption, but they also want an economy that will allow them to restore their human dignity as men and provider of their families. “Mr. President, the time is now to change course.

The capital to bridge the deficit in our budget, so that government can build infrastructure and meet her social welfare responsibilities to the people can be sourced from the IMF: just like we have done with the ADB.”

NEWS

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Governor approves trial of judge over N197m bribe Anule Emmanuel Abuja

overnor Abdulahi Ganduje of Kano State yesterday said that he will not hesitate to approve the trial and prosecution of the State High Court Judge, Justice Kabiru Auta, over N197 million corruption allegation. Speaking to State

House Correspondents after a meeting with VicePresident, Yemi Osinbajo, at the Presidential Villa, Ganduje said he would not only approve Auta to be sacked, but also to be tried in a law court. “What is going on is a court case now, but it is a welcome development. Mr. President is serious about corruption and that aspect is an aspect of conscience. So, the state

government is behind him and has established an anti-corrupt outfit. They are working very hard and we are complementing the effort of the Federal Government. “I will approve his being tried in the court of law, not even sack. If the courts find him to be jailed, that’s okay.” The governor spoke on the heels of the crackdown on some judges by the Department of State

Services (DSS) over corruption allegation. Justice Auta was recently recommended for outright dismissal from the bench by the National Judicial Council (NJC), due to a proven case of bribery and corruption. The NJC had, at its 78th meeting chaired by the Chief Justice of Nigeria, Justice Mahmud Mohammed on September 29, recommended

Auta for prosecution over an allegation that he collected N197 million from a man, Alhaji Kabiru Yakassai, who petitioned the NJC against him. The NJC, while asking Ganduje to effect the dismissal, also recommended that Auta be handed over to the Assistant Inspector-General of Police, Zone 1, Kano, for prosecution. The judge was accused

Corruption allegation: NJC decides judges’ fate today

...unites on Justice Onnoghen as next CJN Tunde Oyesina Abuja

he National Judicial Council (NJC) will today decide its next line of action over the arrest of seven judges by the Department of State Services (DSS) in connection with alleged corruption, an authoritative source told New Telegraph last night. The council had conveyed an emergency meeting over the arrest of about seven judges by the DSS. Also, part of its agenda is to decide who the next Chief Justice of Nigeria (CJN) will be. However, indications from the meeting yesterday showed that members are already united on the choice of Justice Walter Onnoghen as the next Chief Justice of Nigeria. The DSS had, at the weekend, raided the apartments and consequently arrested seven judges over alleged corruption. The seven judges arrested by the DSS are Justices Inyang Okoro and Sylvester Ngwuta of the

Supreme Court; Adeniyi Ademola of the Federal High Court, Abuja; Kabir Auta of the Kano High Court; Muazu Pindiga of the Gombe High Court, Mohammed Tsamiya of the Court of Appeal in Ilorin and the Chief Judge of Enugu State, I. A. Umezulike. Though the DSS had released all the arrested judges on bail, they were requested to report every day to its headquarters in Abuja. The secret service had, however, said that the judges will be arraigned in court. Before the arrest of the judges, the council had fixed its emergency meeting for yesterday to discuss and conclude on its choice of the next CJN. The present CJN, Justice Mahmud Mohammed, will bow out on November 10, when he will attain the mandatory retirement age of 70. At the meeting yesterday, the council could not arrive at conclusion and hence adjourned till today. According to an impeccable source, “the council did not conclude today

(yesterday) on the issues before it, especially on the issue of judges arrested by the DSS. It was really a brainstorming session. The meeting was on for several hours. The chairman of the council had to adjourn till tomorrow (today) for the council to take decision and its decisions will be made known to the public.” The source told New Telegraph that the council devoted much time to the arrest and detention of some judicial officers and that members were not happy about the development and have resolved to reflect that in the council’s position. “At the meeting, the council deliberated so much on the arrest and detention of some of the judges. In fact, the council is not happy at all about the action of the DSS. But the council will make its position known at the end of its meeting. “Whichever way it goes, the council will make known its displeasure on the attempt by the executive arm to intimidate the judiciary. This is not the first time the executive

AGF: Justices are not above the law Tunde Oyesina Abuja

he Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), yesterday justified the arrest of seven judges by the Department of State Services (DSS) over alleged corruption. He stated that the judges were arrested on reasonable suspicion and that no judge is above the law or had constitutional immunity from being arrested or investigated. The AGF spoke on the issue while answering questions from journalists after inauguration of the “country expert review committee for the

second cycle of the review of implementation of the United Nations Convention Against Corruption” in Abuja. The AGF noted that there was prima facie case against the judges who are still being expected to be arraigned in court. “The fundamental consideration is whether there is an allegation of the commission of a crime; whether there is the need for investigation and whether the relevant provisions of the law and, indeed, all circumstances, as provided in the Administration of Criminal Justice Act are put into consideration in our conduct as regard the fight against corruption. “The bottom line is that we have a responsibility to

fight corruption. Corruption is a crime and nobody, regardless of how highly placed, is exempted as far as issues that border on crimes and criminalities are concerned. “The limited exceptions, as we know constitutionally, are the exceptions of immunity. And to the best of my knowledge, those exceptions do not apply to investigation. “For those that are conferred with immunity, the right to investigate has not been taken away constitutionally. “So, I think the framework and the circumstances within which we are operating are clearly whether there exists the right to investigate or not CONTINUED ON PAGE 7

will try to intimidate the judiciary, but this time around, they took it too far. “It is a clear affront on the judiciary and the council will make its position known on such actions by the executive,” he stated. On the issue of succession of the CJN, the source noted that there is no conflict among members. According to him, “members are united on the need to retain the tradition of allowing the most senior justice succeed the out-going CJN. The CJN have always made his position known as to retaining the tradition whereby the most senior justice becomes the CJN.

“The council will hopefully conclude on all issues, when it reconvened tomorrow (today) and it will make its position public, but, as at now, the council is yet to take final positions on most issues considered. That is why the meeting will continue tomorrow.” The council had, some weeks ago, sacked three judges over corruption and abuse of their offices. The three judges were part of those the DSS arrested at the weekend. Earlier in the week, the CJN had said that the action of the DSS was regrettable, but pleaded with all stakeholders to be calm.

of collecting about N197 million from Yakassai under the pretext that he had planned to use the money to help get accommodation for a CJN who was newly appointed at the time, with an assurance that the businessman would be rewarded with a contract by the CJN. Auta, it was learnt, agreed to refund the sum of N95 million to Yakassai, who had petitioned the NJC, but later admitted during his probe by the NJC panel that he only agreed to refund N35 million. Responding on why he was in the Villa, Ganduje said his mission was to discuss security and youth unemployment with the vice president. “Well, you know Kano is a mega city. A mega city has got some peculiar problems of security and employment and other things. So, I came to discuss such issues, especially the issue of unemployment and the efforts we are making this far and the kind of attention we need as a mega city. “That’s briefly what I am here to discuss with the vice president,” he added.

PUBLIC NOTICE FEDERAL MINISTRY OF ENVIRONMENT

PUBLIC DISPLAY EXERCISE ON THE ENVIRONMENTAL IMPACT ASSESSMENT (EIA) OF THE PROPOSED FREE ZONE PROJECT AT AMUWO ODOFIN LOCAL GOVERNMENT AREA, LAGOS STATE BY NASCO TOWN LIMITED

In accordance with provisions of the Environmental Impact Assessment (EIA) Act CAP E12 LFN 2004, which makes it mandatory for proponents of all new major development activities to carry out Environmental Impact Assessment of their proposed projects, the Federal Ministry of Environment hereby announces a TwentyOne (21) Working days Public Notice for information and comments on the Draft EIA Report submitted by NASCO Town Limited. Brief Project Description: The proposed Nasco Town Free Zone (NTFZ) project consist of the following component, Kings Gate, Medical Park, Retail and Showroom, Residential, Crown city, Industrial park, Yatch club, Hotel, Shopping precinct, the Dockland and Emerald isle 2 with total land take of 1,989,200m . The Display Centers Are: Lagos State Ministry of the Environment, Alausa, Ikeja Secretariat, Lagos State. Headquarters, Amuwo odofin Local Government Area, Festac, Lagos State. Federal Ministry of Environment Office, Federal Secretariat, Lagos State. Federal Ministry of Environment, Environment House (Brown Building), Independence Way South, Central Business District, Abuja – FCT. www.ea-environment.org Duration of Display Date: 12th October, 2016 – 9th November, 2016 Time: 8:00am – 4:00pm Daily. ALL COMMENTS RECEIVED SHOULD BE FORWARDED TO THE HONOURABLE M INISTER, FEDERAL MINISTRY OF ENVIRONMENT TH ON OR BEFORE 9 NOVEMBER, 2016. SIGNED PERMANENT SECRETARY FOR: HONOURABLE MINISTER.

NEWS

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Call security agencies to order, Senate tells Buhari lSenators condemn arrest of judges by DSS

Chukwu David Abuja

ollowing the recent clampdown on some judicial officers across the country by the Department of State Services (DSS), the Senate, yesterday, urged President Muhammadu Buhari to call all security agencies to order and direct full observance of rule of law in the discharge of their statutory duties. The Senate, which decried last Saturday’s invasion of residences of some judicial officers, arrest and detention of some judges by the DSS, also mandated its Committee on Judiciary, Human Rights and Legal Matters, to review all existing laws that deal with powers of security agencies and put them in line with tenets of democracy and report back in four weeks. It further condemned in strong terms the action of the DSS, stressing that the security agency went outside the confines of its constitutional powers, which amounted to usurpation of the powers of the National Judicial Council (NJC). The apex chamber also expressed its full support for the fight against corrup-

tion by the Federal Government, but advised that the war against corruption must be carried out with total respect for the rule of law and democratic principles. The Senate, however, rejected a recommendation that the Director-General of the DSS be summoned to explain to the Chamber what informed the action of the agency against the judges. The resolutions were made by the lawmakers, as a sequel to the motion of urgent public importance brought to the floor of the Senate by Joshua Lidani (PDP, Gombe South), who raised questions on the action of the DSS, praying the Senate to intervene. While leading the debate on the motion, Lidani said that he was alarmed that such unconstitutional action could be adopted by the DSS to sanitise the judiciary. He expressed worries that the application of unconstitutional approach in the on-going fight against corruption in the judiciary might prove counter-productive on the long run. Lidani, who is a lawyer by training, said that the DSS has no constitutional

right to arrest or molest judicial officers and, as such, the action of the agency was ultra-vires, unconstitutional, illegal and null avoid. He said: “I am alarmed that the extra-constitutional approach to sanitise the judiciary in line with the war against corruption is bound to prove counterproductive, because it erodes the role of the judiciary and undermines the importance of the judiciary as well as demoralise many patriotic and upright judges who have determined to support the crusade against corruption.” In his contribution, Dino Melaye (APC, Kogi West), said that even though it is true that the judiciary is currently very corrupt, with empirical evidences, the DSS went outside its constitutional mandate and must be called to order in the interest of democracy. Melaye said: “While I support the fight against corruption, it is a misnomer and absurd for the DSS to operate outside its mandate. The responsibility of the State Security Services is clearly defined in the National Security Agencies

Act 2010, Cap 350, which states clearly that the state security services shall be charged with the responsibility for the prevention and detection within Nigeria of any crime against internal security of Nigeria. “The second responsibility as enshrined by the law setting up the DSS states that the protection and preservation of nonmilitary classified matters concerning again, the internal security of Nigeria. “The third and the last responsibility as enshrined by law is such other responsibilities affecting again internal security within Nigeria, as the National Assembly or the president as the case maybe, may deem necessary. “Mr. President, my respected colleagues, how does bribery and corruption become an issue of internal security? How does bribing judges or official misconduct in their official capacity become a threat to internal security? The point here is that the DSS, in its fight against corruption, overstepped their boundaries and abused their mandate.” Also, Deputy Leader of the Senate, Bala Na’Allah, recalled that the massive

L-R: President, Dangote Group, Alhaji Aliko Dangote; VicePresident Yemi Osinbajo; Ogun State Governor, Senator Ibikunle Amosun and Chairman, Nigerian Economic Summit Group (NESG), Dr. Kyari Bukar, at the on-going summit in Abuja… yesterday

Abuja

ollowing the public outcry that trailed the arrest of some senior judges by the operatives of Department of State Service (DSS), last weekend, the House of Representatives yesterday resolved to investigate all cases of “invasion of property and arrest of persons for reasons outside the general duties of the SSS as prescribed by the National Securities Act since May 29, 2015.” The ad hoc committee, which will be constituted as soon as possible, is ex-

particularly while prosecuting the anti-graft war. In a statement issued by the Chairman of the Senate Committee on Media and Public Affairs, Aliyu Sabi Abdullahi, after its executive session to discuss the arrest of seven judges by the DSS, the upper chamber warned that all actions taken outside the provision of the law in pursuit of the anti-corruption war would be a contradiction. It charged the DSS, anticorruption agencies and other law enforcement institutions as well as the National Judicial Council (NJC) whose members are on the receiving end to always act within the confines of the law so as not to ridicule the noble objectives behind the war against corruption. “We cannot in any circumstance accept a situation where extra-judicial and illegal means are employed to pursue any state objective. Any strategy employed in pursuit of the anti-corruption war that offends or is contrary to rule of law or seek, appear or is perceived to compromise the independence of the judiciary, is unacceptable to the Senate. “Once again, we need to remind all agencies of government not to operate outside the mandate provided for them by the law of the Federal Republic of Nigeria. Any action contrary to the law will give a bad impression of our country to the international community,” the Senate stated.

Poverty Reduction: US supports Nigeria with $474m Wale Elegbede

Reps investigate DSS over arrest of judges Philip Nyam

support and commitment of Nigerians to the change government was because they were all unanimous in the fight against corruption, warning that government should not do anything to betray that trust. He said that the framers of the Constitution deliberately empowered the NJC to be in charge of disciplining erring judicial officers and not another agency, pointing out that the NJC had been alive to its responsibilities in this regard. In his remarks, Senate President, Bukola Saraki, lent his voice to support the fight against corruption, but cautioned that the exercise must be made to conform with constitutional process. “We must eradicate corruption in all spheres of our society and this is a matter that we must continue. I think the National Assembly has been playing its role to continue to support government in its fight against corruption. “However, we must ensure that this fight against corruption is within the rule of law; any act of anti-corruption that goes against the rule of law does not help the corruption fight. All agencies of government must ensure that they act within the rule of law,” he said. Meanwhile, the Senate has urged the DSS and all anti-corruption agencies to always comply with the provisions of the law in the exercise of their duties,

pected to submit its report within six weeks. Recall that the operatives of the DSS had arrested seven judges in some states across the country. This followed a motion under matters of urgent national importance moved by Hon. Kingsley Chinda (PDP-Rivers), which was unanimously adopted by members through a voice vote. Presenting the motion, Chinda expressed concern that the DSS’ invasion of the judges’ premises was a violation of the law. Chinda argued that Section 53 Sub-section 1 of the 1999 Constitution

as amended stated clearly the principle of separation of powers. The lawmaker recalled similar action by the DSS in time past, bringing to question the statutory function of the secret service. He said if not checked, the nation’s democracy will be tempered with. According to the lawmaker, the essence of the invitation is to state clearly where the DSS derives its powers to prosecute on matters bordering on corruption. Mojeed Alabi (APC-Osun) had challenged the motion, but was ruled out of

order by Speaker Yakubu Dogara who stated clearly that the matter was important and should be treated urgently. The house urged the ad-hoc committee investigating the matter to report back within six weeks.

The total population of Melanesia in 2000. Source: Un.org

$39.24m

The capital importation of the Drilling sector of Nigeria in Q3 2014. Source: National Bureau of Statistics

n its bid to ensure an end to extreme poverty in Nigeria, the United States yesterday said it has committed additional $92.73 million to its developmental assistance plan to the country. In a statement issued yesterday by the Public Affairs Section of its Embassy in Abuja, the US said the fresh $92.73 million is part of the five-year developmental assistance agreement of $2.3 billion signed with the Nigeria government in 2015. “On October 5, the United States of America, through the US Agency for International Development (USAID), announced $92.73 million in additional developmental assistance to support the five-year $2.3 billion agreement signed with the Nigeria government in 2015. This brings the total of development assistance provided to $474.74 million.

“This funding will continue to help Nigeria reduce extreme poverty in a more stable, democratic society. Activities will stimulate inclusive economic growth, promote a healthier, more-educated population and strengthen good governance. “Today, we are pleased to contribute additional funding in support of the agreement signed with the Nigerian government in 2015. “With their leadership, we know this funding will have a significant impact on the wellbeing of Nigerians,” said USAID, Mission Director, Michael Harvey. USAID has collaborated with the Ministry of Budget and National Planning; ministries of health, agriculture, power and education; and state-level government counterparts to structure the agreement, which is in place until 2020, as part of efforts to align Nigeria’s development plans with sector-specific strategies.

NEWS

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Sexual misconduct: House clears lawmakers

Philip Nyam Abuja

he House of Representatives yesterday exonerated three of its members from allegations of sexual misconduct levelled against them by the erstwhile United States Ambassador to Nigeria, Mr. James Entwistle. The lawmakers, Mark Terseer Gbillah (APC, Benue), Mohammed Garba Gololo (APC, Bauchi) and Samuel Ikon (PDP, Akwa Ibom) were alleged to have solicited for prostitutes while on an international visitor’s leadership programme in Cleveland, Ohio, USA, in April 2016. New Telegraph had exclusively reported penultimate Monday that the lawmakers were cleared of the allegations against them. Their exoneration followed the adoption of the recommendations of the House joint committee on ethics and privileges and foreign affairs, which investigated the allegations.

In absolving the lawmakers, the House noted: “That Hon. Mohammed Garba Gololo, Hon. Mark Terseer Gbillah and Hon. Samuel Ikon are cleared of and exonerated from the allegations levelled against them by the United States Ambassador to Nigeria in his June 9, 2016 letter to the Speaker, Yakubu Dogara, for want of evidence; “That in the light of the foregoing, the Minister of Foreign Affairs do engage with the United States Ambassador to Nigeria, with a view to finding a seamless resolution of the domestic fallout of this unfortunate incident as it relates to Hon. Mohammed Garba Gololo, Hon. Mark Terseer Gbillah and Hon. Samuel Ikon; “That the Ministry of Foreign Affairs do write to remind the United States Embassy of the need to

N34.63bn The total value of payment channels made by POS of Nigeria in April 2015. Source: National Bureau of Statistics

always adopt the official channel of communications in its dealings with any organ or institution of government.” Explaining the rationale behind the decision, Chairman of the Ethics and Privileges Committee, Ossai Ossai, told the House that the ambassador had, through the Minister for Foreign Affairs, Mr. Geoffrey Onyeama, admitted authorship of the June 9, 2016 letter addressed to the speaker, in which it was also stated that Gololo allegedly grabbed a housekeeper in his hotel room and solicited her for sex, while Gbillah and Ikon allegedly requested hotel parking attendants to assist them to solicit for prostitutes.” He said there was no irrefutable evidence in form of CCTV/Video footage of the scene, report of any form of investigation indicting the accused person or written statements of complaint-housekeeper indicting the accused person. “Although there was in-

formation that the alleged complainant-housekeeper had declined to testify anywhere, in respect of the allegation, but assuming the complainant had declined to testify or commit herself to recorded evidence, the vital particulars of the crime such as complainant’s name, date and time of the crime should not have been suppressed as was done in this matter.” He submitted that: “It was well established that the accusation that Gololo allegedly grabbed a house-

inister of Mines and Steel Development, Dr. Kayode Fayemi, has said that the ministry is set to provide logistics and technical assistance to state governments in their bid to invest in the mining sector. The minister, who disclosed this yesterday when he received Ebonyi State Governor, David Umahi, in his office, said the diversification plan of government

would be better realised with states’ involvement in mining ventures. “We want successful projects at state level. It will help us to showcase our seriousness in becoming a mining nation,” said Fayemi, who lauded Umahi’s commitment to tapping the mineral deposits in his state. Fayemi, who with the Minister of State, Abubakar Bawa Bwari, received Umahi, said the ministry’s budget for 2017 has captured exploration, reclamation of mining sites and organisation of artisanal miners, among other things that would reposition the sector. The minister commended the governor for mak-

ing Ebonyi State a mining destination, saying that the state is a model for others to emulate. He assured the governor that the ministry has put together an environmental team to work on reclamations of mining sites for the welfare of the host communities. Umahi had earlier stated that beyond agriculture, Nigeria would generate more revenue from mining, adding that more countries are looking towards Nigeria because of the mineral resources. The governor said the state is willing to partner with UNIDO and the Federal Government to mine its huge deposit of salt and limestone.

AGF: Justices are not above the law CONTINUED FROM PAGE 5

NLNG's assets worth exceed $13bn mark –Attah he assets’ worth of Nigeria Liquefied Natural Gas (NLNG) has now exceeded $13 billion mark. Managing Director of Nigeria LNG Limited (NLNG), Tony Attah, who declared this yesterday, maintained that the NLNG Act and the shareholding and governance structure of the company were key factors responsible for NLNG’s success story. Attah, according to a statement by the company, spoke during a technical session chaired by the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, at the on-going 22nd Nigerian Economic Summit (NES) in Abuja, under the theme: “Creating a global Champion from Made in Nigeria: The NLNG story.”

excluding the National Assembly from future participation in the international visitor’s leadership programme was established as most likely, which is in itself an indictment of guilt on the institution.” It will be recalled that New Telegraph had on June 16, 2016 broken the story on the letter written by the former US ambassador to Speaker Dogara about the alleged misconduct of the three lawmakers while on visit to the US.

Mining: FG to provide technical assistance to states

L-R: Baale of Ilabare, Ajah, Chief Ahmed Bashorun; Head of Gloworld, Mr. Babatunde Alimi and State Manager, Lagos 1, Mr. Niyi Olatubosun, at the commissioning of a new Gloworld outlet in Lekki, Lagos State… on Monday.

Adeola Yusuf

keeper in his hotel room and solicited her for sex, was not proved. “It was also established that the accusation that Gbillah and Ikon allegedly requested hotel parking attendants to assist them to solicit for prostitutes was equally not proved. “That the withdrawal and revocation of the travel visas of the accused members on June 15, 2016, was misconceived and a manifest error of a conclusion of guilt. “The possibility of

In his presentation at the summit, the NLNG boss remarked that the NLNG Act provided incentives, assurances and guarantees, which significantly encouraged investment in the project. He added that experience has clearly shown that countries cannot hope to legislate investments into existence without addressing issues relating to accompanying incentives, guarantees and assurances. “These incentives made it attractive for the international investors and financiers to invest even during a period Nigeria was perceived to be a pariah state. Those investments grew and they resulted in an inspirational Nigerian success story that the company is today, with assets now worth over $13 billion.” Attah’s presentation took a position on the

undesirability of some current developments, 18 years after the major breakthrough, which NLNG represents, where certain stakeholders in the country continue to make attempts to undermine the Act. He added that the courts have been firm on the provisions of the Act in instances where court cases were instituted by third parties to compel company to pay levies. “These attempts are apparently continuing outside the courts, but we are hopeful that the country’s leadership will protect its commitment through the Act as well as avoid the portrayal of the country as one that does not honour agreements. “The ownership mix, with the Nigeria government, through the national oil company owning just 49 per cent and having

international companies owning 51 per cent, has brought tremendous benefits. Most importantly, it has allowed significant funding through international banks required for the construction of both the plants and the ships. Secondly, such a mix has ensured that the international companies bring to bear on the company, international standards and best practices. Thirdly, with a significant shareholding, government, through NNPC, has been able to drive the national agenda for social and nationalistic causes such as the Nigerianisation plan. That plan has directly resulted in a crop of welltrained Nigerian professionals, many of whom have had the opportunity to understudy and eventually succeed expatriates over a period of time,” he said.

and whether the action borders on criminality. “Once crimes and criminality are concerned, nobody is an exception. I think the undertone should be exclusively the consideration of the existence of a prima facie case; existence of reasonable grounds for suspicion of commission of a crime. “And if there are, no member of the legislature, judiciary and executive can definitely be exempted from investigation. I think where we are now is the point of investigation and that is what is taking place,” he stated. Earlier, the AGF, while inaugurating the committee, expressed confidence in the ability of members to execute their responsibilities. He said: “The extant review focusing on Chapter II and V of the UNCAC, relating to preventive measures against corruption in public and private sectors and asset recovery, is both necessary and timely at this time in the annals of our country when endemic cum systemic corruption has created a great discontent between our nation’s wealth and the quality of life of ordinary citizens.” Meanwhile, Special As-

sistant to the President on Prosecution, Mr. Obono Obla, yesterday there is nothing unconstitutional about the arrest of some judges by the DSS. Obla, who spoke with journalists in Ugep, Cross River State, said that for the first time in the history of Nigeria, Supreme Court justices were arrested for corruption. “It is unprecedented in Africa for senior judges to be arrested for corruption and you say we are not fighting corruption. “Judges are partly responsible and the corrupt lawyers are partly responsible because they block, they fight, and they stall judicial process. “When he is being asked to render account of his stewardship, he should do so. He should not bring lawyers to come and stall processes and progress. And some corrupt judges pander to these lawyers because money has passed under the table. “We need fearless judges, knowledgeable judges, incorruptible judges and God-fearing judges. “And we also need the cooperation of all the institutions involved in the administration of criminal justice to fight corruption in the system,” Obla said.

wednesday, october 12, 2016 NEW TELEGRAPH

METRO Abdulwahab Isa Abuja

en, women and youths yesterday took to major streets of Abuja metropolis in the Federal Capital Territory (FCT) to show their anger against harsh economic condition in the country. The protesters said the prevailing economic recession had led many firms to shut down operations, a development which had led to job losses. They marched through various streets in Abuja and finally terminated their movement at the headquarters of the Nigeria Television Authority (NTA). Armed with placards, the protesters called on government to speed up the process of revamping the economy to save the Nigerian masses from acute poverty. Speaking on behalf of other protesters, Mrs. Folake Melody, who claimed to be a woman leader of Yoruba Frontier, a pressure group, said the economic climate in the country had forced many married women into prostitution. She said: “Many homes have broken down. Many wives have turned to prostitutes. Women now sell their children to feed. Children now wait for leftovers at parties to eat. You see them rummaging through garbage heaps to eke a living. We have never had it this bad. It is not only those in Internally Displaced Persons (IDPs) camps that are suffering. The masses are really hurt. What is President Muhammadu Buhari doing? Who are those managing this economy. This is just too bad.” Another group, Banex Youth Association, led by Yaro Abdul, said the continuous crash of the naira had forced many companies to close shops, thereby throwing thousands of youths into the already saturated job market. He said: “Today, it is N520 to a United States (US) dollar. The company where we were working had flushed us out because it folded up. We have not been working for about a year now. They want to force us into crime.”

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

We’re hungry, Nigerians tell Buhari during protest

A cross-section of protesters agitating for the removal of Central Bank Governor, Mr. Godwin Emefiele yesterday.

Gusau

unmen yesterday killed the Assistant Superintendent of Police (ASP), Gambo Adamu, in charge of Damba outpost in Tudun Wada Division in Zamfara State. The gunmen also killed a man identified as Ibrahim Mohammad. They were shot and killed about 2a.m. in their houses in both Sha’iskawa and Filin Girgi Quarters all in Gusau, the state capital. Briefing journalists in his office, the state Police

PHOTO: TIMOTHY IKUOMENISAN

Barber defiles primary 1 pupil Camillus Nnaji

33-year-old man, identified simply as Mr. Charles, has allegedly defiled a six-year-old primary one pupil (name withheld), in his shop. The incident occurred at 36, Oremeta Street, Ojodu, Lagos, where the pupil resides with her mother, Mrs. Chinyere Chukwu, while the barber’s shop is located in front of the house. It was learnt that Charles has been taking advantage of the minor who he usually lures to his shop to watch movies,

City Briefs Gunmen kill ASP in Zamfara Idris Salisu

abiodun.bello@newtelegraphonline.com 08023938212

Public Relations Officer (PPRO), ASP Shehu Mohammed, said the command had commenced investigation into the killings. Mohammed promised that the culprits would soon be brought to book. A man, who lived in the same house with Adamu but did not want his name in print, said the gunmen told the ASP’s wife that they were sent to kill three people, including her husband. The neighbor added that the gunmen stole Adamu’s handsets and other valuable items after killing him. After assassinating the

especially when the child’s mother was not at home. The evil was uncovered when Chukwu’s sister observed the child came back to the room with blood stained pants. She was repeatedly asked until she told her mother it was Charles that shook her “from the back with something as strong as stick”. Chukwu’s sister, who identified herself as Helen, told our correspondent that the girl’s mother had packed out of the compound two weeks ago because of shock and emotional trauma her daughter had endured. A source said: “It occurred

on the day the girl’s mother went to the market. As usual, the girl went to the barber’s shop where she normally watches films. When she came back, her younger sister staying with her asked her to check her daughter’s pants and private part, that there are blood

stains on her pants. “The mother checked and confirmed her daughter had been abused. While questioning her, she said it was Charles, a barber in front of the compound that dragged her inside his shop and had sex with her.”

Five fakers held at Onitsha drug market Okegwo Kenechukwu Onitsha

A IG, Ibrahim

ASP, the assailants were said to have gone to Rijiyar Gabas and attacked another person identified as Salisu Horror. The third victim, however, did not die. He sustained serious gunshot wounds and was rushed to an undisclosed hospital.

t least, five fake drug dealers have been arrested and handed over to the National Agency for Food, Drug Administration and Control (NAFDAC) by the task force set up by the Onitsha Patent and Medicine Dealers’ Association (OPPMDU). The Chairman of OPPMDU, Mr. Emeka Agu, made the disclosure while reiterating the resolve of the association

to continue to work with NAFDAC, the National Drug Law Enforcement Agency (NDLEA) and other drug agencies towards ensuring a better health for the people. He urged his members to distance themselves from dealing on fake and adulterated drugs and ensure that they are licensed for the business, so as to reduce untimely death of Nigerians who patronise quacks unknowingly. Commending the association, the state NDLEA commander ex-

pressed satisfaction. He said his agency would operate in accordance with the law to rid Onitsha of hard drugs and criminals. The commander said that to be successful, the war needed the concerted efforts of the drug agency and OPPMDU on one hand and the general public on the other. Highlight of the occasion was the sharing of free drugs to OPPMDU members by a pharmaceutical company, Exus Pharmacy Nigeria Limited.

METRO

wednesday, october 12, 2016 NEW TELEGRAPH

Teenage girl ‘resurrects’ during interment

National Assembly workers, four others arrested for stealing diesel Chukwu David Abuja

ix persons were yesterday arrested for stealing diesel belonging to the Estate and Works Department of the National Assembly. Two of the culprits were said to be National Assembly staff while the other four came from outside the complex. The suspects were reportedly caught in the act but one of them escaped in the process of trying to arrest them by security operatives at the National Assembly. A source told New Telegraph that the National Assembly staff were said to have

Ola James

any people ran in different directions in Warri, Delta State yesterday when a young girl of about 15 years presumed to have died suddenly woke up as she was about to be interred at the Warri Cemetery. The girl, whose name could not be ascertained at press time, was said to have died about 5a.m. yesterday and was wrapped in a mat and placed on top of the soak away at Warri Motor Park. Sources told our correspondent that the girl suspected to be pregnant, allegedly took concoction and went into deep sleep which ostensibly made people to suspect she might have given up the ghost. It was learnt that sympathisers made up mostly of youths saw her completely naked and presumed that she had died, wrapped her in mat and headed for the cemetery. “When we got to the cemetery, the workers there dug the grave for her burial. As the remains were laid into the grave and they were about covering it with sand, the deceased sneezed and jumped out of the grave and started shouting,” said a witness. Consequently, there was pandemonium with-

in and outside the cemetery as scores of people thronged the cemetery to catch a glimpse of the ‘resurrected’ girl. Sources, however, told our correspondent that the girl was immediately rushed to Christ Mercyland Deliverance Ministry, Effurun, near Warri for spiritual cleansing. Attempt by policemen near the cemetery to take the girl to the station was rebuffed by sympathisers who insisted that the matter did not concern the police. They said it was a spiritual issue.

Delta: Furore over child trafficking, fake orphanages Dominic Adewole ASABA

Mojeed Alabi

masterminded the operation in collaborator with their colleagues from outside the National Assembly. The suspects were said to have arrived the National Assembly complex about 4:20a.m and went straight to the area where diesel is stored. According to the source, the suspects arrived the premises of the National Assembly in a Volkswagen Golf car and immediately proceeded to scoop diesel into jerry-cans before they were caught. The police are said to have launched full investigation into the incident to ascertain whether there were other collaborators among employees of the National Assembly.

Okowa

Police, UNILAG students bicker over arrest eaders of the suspended Students’ Union of the University of Lagos (UNILAG), Akoka, have accused the police of harassing and brutalising their colleagues over what they described as spurious allegations leveled against them by the university management. The students, who were returning from the Federal High Court in Ikoyi, were reportedly arrested at AbuleOja area of Akoka over allegation that they were planning to disrupt the ongoing second semester examination in the university. According to the Secretary of the union, Emmanuel Afolabi, the arrested students are members of the leadership of the Joint Campus Committee, Lagos State Axis of the National Association of Nigerian Students (NANS), who had appeared in court in solidarity with the 11 rusticated UNILAG students, whose matter was adjourned till October 25 by the court. Afolabi said: “We had students from various campuses in Lagos on the platform of NANS JCC, who had come to court to show solidarity in our pursuit to challenge our illegal rustication. We were returning to the Federal College of Education

The students being taken to police station after their arrest

(Technical), Akoka, for a meeting to review the development when we heard one of the buses conveying members had been stopped by the police. “The bus belongs to the students’ union of the Adeniran Ogunsanya College of Education (AOCOED) when the JCC Chairman, Comrade Samson Adewale, comes from. At-

tempt to explain the situation to the police was rebuffed and they were dragged to the State Criminal Investigation and Intelligence Department (SCIID) in Panti, Yaba, where they were molested, harassed and brutalised.” He described the allegation that a police officer was manhandled by the students as fallacious.

Two suspects die in police, robbers’ shootout Uchenna Inya ABAKALIKI

wo men suspected to be armed robbers yesterday lost their lives during a shootout with policemen on AfikpoOkigwe Road in Ivo Local Government Area of Ebonyi State. Briefing journalists in Abakaliki, the state Police Public Relations Officer (PPRO), DSP George Okafor, said the command received information that a six-man armed robbery gang was operating with a Vento Volkswagen car at Akaeze-Edda Bridge in the area. According to him, a team of police-

men led by Divisional Police Officer (DPO) in Ivo quickly moved to the scene where the Officer in Charge of Akaeze Police Station was already engaging them in a gun battle. He said: “The robbers ran away in their car and during hot chase by the police they abandoned the car and snatched a Toyota bus to make good their escape. “In the ensuing exchange of gunfire, two of the robbers were gunned down, the rest four escaped through AninriAwgu axis of Enugu State with bullet injuries while one AK47 rifle, five magazines and 20 rounds of live ammunition were recovered from them.”

elta state Ministry of Women Affairs, Community and Social Development has been sued for alleged involvement in child trafficking network. Also, the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has commenced investigation on the state for allegedly operating over 30 illegal orphanages. Mr. Ighorhiohwumu Aghogho, who recently sued the ministry after indicting the state House of Assembly, equally petitioned NAPTIP, accusing the state of registering illegal orphanages to perpetrate the trafficking. But in a swift reaction in Asaba yesterday, the Commissioner for Information, Mr. Patrick Ukah, disclosed that none of the 27 approved orphanages in the state was illegal. While he described the allegations as “laughable and unimaginable,” Ukah said it was a calculated attempt to tarnish the image of the Ministry of Women Affairs, Community and Social Development and the administration of Governor Ifeanyi Okowa. Ukah, who urged the public to regard the allegation as spurious as no official of the state was involved in such act, said Okowa had adhered strictly to relevant laws guiding adoption of suspected orphans and adoption processes. According to him, the ministry in question usually keeps records of adoption and not adoption register as contained in the allegation “as such document belongs to the court”. The commissioner corrected the impression by the petitioner that abandoned children are usually found by Social Welfare Officers, instead by Good Samaritans who usually take such a child to the police station for documentation before handing the child over to Social Welfare Officers who in turn take the child to an approved orphanage.

NEWS | national

wednesday, october 12, 2016 NEW TELEGRAPH

Osinbajo: FG to begin micro-credits scheme for artisans, women

Anule Emmanuel Abuja

ice-President Yemi Osinbajo has disclosed that the Federal Government will before the end of this month commence the disbursement of small funds to artisans, traders and market women under its micro-credit scheme. The Vice President stat-

ed this yesterday when he spoke to journalists at the presidential villa, Abuja. At another forum, the Nigerian Economic Summit, he said that the Federal Government would partner stakeholders to raise over one trillion Naira to ease the burden of housing in the country. Osinbajo explained that under the scheme, the Federal Government will give very low-cost loans to more than one million Nigerian

855,270

The total number of interactions on Facebook of Cristiano Ronaldo in February 2016. Source: Goal.com

artisans, traders, market women and other ranging from N60,000 to N100,000. According to him: “For women across the country, we are giving loans, micro credit loans to about 1.5 million women. We are focusing on market women and artisans, loans between N60,000 and 100,000 each. We are working through the Bank of Industry, BOI.” He added: "They are going to be giving out these loans. We‘ve already identified the banks and everybody who is involved in this. We should be flagging-off hopefully before

the end of this month” Such soft loans to the artisans, traders and market women, the Vice President noted was meant “to boost their businesses.” Osinbanjo said that the Federal Government is working with stakeholders to raise one trillion naira to provide affordable housing for Nigerians. He also said that, agricultural sector has the highest potentials for job creation, self-sufficiency and economic diversification upon which the ‘Made-in-Nigeria’ drive of the present administration is anchored.

Senate stops FG’s N309bn electricity bond Chukwu David Abuja

he Senate, yesterday, ordered immediate discontinuation of the plan by the Federal Government to raise a secured bond of N309 billion for financing of the shortfall in the Nigerian electricity market. That is pending the outcome of investigation into the proposal by its joint committees on Power and Privatization. The decisions of the Upper Chamber on the matter were taken as a result of a motion moved by Senator Mustapha Bukar (APC, Katsina North).

The Senate specifically urged the Federal Ministry of Power, Works and Housing and the Nigeria Electricity Regulatory Commission (NERC) to immediately halt the raising of the bonds by Nigeria Bulk Electricity Trading Company (NBET). It also mandated the committees on Power and Privatization to investigate the post-privatization performance of all players in the power sector in line with their performance agreement including the management and disbursement of any loans or bonds of the agencies in the sector. L-R: Minister of Budget and National Planning Senator Udo Udoma; President Muhamadu Buhari, and Head, Branding, Sterling Bank Plc, Olapeju Ibekwe, at the 2016 Nigerian Economic Summit in Abuja…on Monday.

NASS confirms Ndoma-Egba, Ekere as NDDC chairman, MD Chukwu David Abuja

he Senate yesterday, confirmed the immediate past Majority Leader of the apex Chamber, Victor Ndoma-Egba and Nsima Udo Ekere as Chairman and Managing Director of Niger Delta Development Commission (NDDC) respectively. This was as President Muhammadu Buhari forwarded the names of Justice Sidi Dauda Bage (North-Central) and Justice Paul Adamu (NorthEast) to the Senate for confirmation as Justices of the Supreme Court. The Senate confirmed Ndoma-Egba, Ekere and others following their recent nominations to the respective offices by President Mohammadu Buhari. The Red Chamber also rejected the appointments of three of the nominees from the President, on the grounds that their nominations breached the law setting up the Commission. According to the Senate, the nominees whose appointments were rejected did not come from core oil producing communities or local governments in their various states as required by the NDDC Act. Those rejected include: Donatus Enyinnah from Abia State, Olatokunbo Ayotunde Ajasin, from Ondo State and Osita Izunaso, from Imo State. However, the Senate

change OF NAME

Kalu

I, formerly called and addressed as Miss Ogbuja Eresi Chioma now wish to be called and addressed as Mrs. Kalu Eresi Chioma. All documents bearing my former name still remain valid. General public should please take note.

confirmed the appointments of Adjogbe Ajenakevwe Samuel, from Delta, as the NDDC Executive Director of Project, Mene Ienyie Derek, from Rivers, as the NDDC Executive Director of Finance and Administration. Also confirmed as NDDC board members are: Brambaifa Nelson, from Bayelsa State, Frank Samuel Gorge, from Akwa Ibom, Sylvester Nsa, from Cross River State, Ogaga Ifowodo, from Delta State, Uwuilekhue Saturday, from Edo State, Harry Iboroma Dabibi, from Rivers State. Other appointed NDDC board members are: Benard Banfa, representing North Central, Yahaya Mohammed, representing North East, Mustapha Dankadai, representing North West, Igo Weli, representing Niger Delta Ministry, Mahmoud Isa-Dutse, representing Federal Ministry of Finance and Abdul-Kazeem Bayero, representing Federal Ministry of Environment. Meanwhile, before Senate resolved to reject the three nominees, there was argument on the powers of the Senate committee to recommend the rejection of presidential nomination. Senate Chief Whip, Olushola Adeyeye, said the Senate should not set a precedence of where people might begin to narrow the membership of NDDC board to the clan where oil is produced. He argued that the constitutional interpretation of oil producing area did not mean only the local government areas in an oil producing state, but included the entire state that is a member of the Niger Delta region.

Obesity: WHO seeks taxes on sugary drinks Appolonia Adeyemi

s part of global efforts to curb soaring obesity rate, especially in children, the World Health Organisation, (WHO), has urged all countries to consider introducing a sugary drinks tax. This is contained in a report titled “Fiscal policies for Diet and Prevention of Non-Communicable Diseases (NCDs)”. The WHO’s advice came as more and more countries are considering fiscal measures to dissuade people from buying the

large quantities of colas, lemonades and other sugary soft drinks that have been identified as a major cause of the global overweight and obesity crisis. The WHO stated that a tax has most impact on the young, those on low incomes and others who consume a lot of sugary drinks and would have the greatest positive effect on the health of those groups. Reduced consumption of sugary drinks means lower intake of “free sugars” and calories overall, improved nutrition and fewer people suffering from overweight, obesity,

NCC confirms Visafone’ spectrum licence status Kunle Azeez

elecoms regulator, the Nigerian Communications Commission (NCC) yesterday opened up on the status of Visafone Communications spectrum licence, saying it had not approved the spectrum licence for MTN use despite the 100 per cent Visafone acquisition by MTN. The declaration by MTN, corroborates New Telegraph’a report, which broke the news on the sta-

tus of Visafone licence, despite acquisition of wholly acquiring Visafone in a N47.5 billion deal last year. The newspaper had, on September 29, 2016, exclusively reported that the regulator had not taken a decision on the transfer of Visafone spectrum to MTN, as “it awaits industry analysis so as not to let the release of the spectrum result in undue dominance by the South African telecoms company in Nigeria."

diabetes and tooth decay. Free sugars refer to monosaccharides (such as glucose or fructose) and disaccharides (such as sucrose or table sugar) added to foods and drinks by the manufacturers, cooks, or consumers, and sugars naturally present in honey, syrups, fruit juices, and fruit juice concentrates. In 2014, more than one in three (39 per cent) adults worldwide aged 18 years and older were overweight. Worldwide prevalence of obesity more than doubled between 1980 and 2014, with 11 per cent of men and 15 per cent of women

(more than half a billion adults) being classified as obese. In addition, an estimated 42 million children aged under five years were overweight or obese in 2015, an increase of about 11 million during the past 15 years. Almost half (48 per cent) of these children lived in Asia and 25 per cent in Africa. The number of people living with diabetes has also been rising, from 108 million in 1980 to 422 million in 2014. The disease was directly responsible for 1.5 million deaths in 2012 alone.

FG to launch Digital Broadcasting December –Mohammed Temitope Ogunbanke

he Minister of Information and Culture, Alhaji LaiMohammed,hasassured of the Federal Government's readiness to launch the Digital Switch Over (DSO) in broadcasting in the Federal CapitalTerritory(FCT),Abuja, by the end of 2016. The minister gave the assurance in Abuja yesterday after a guided facility tour of Pinnacle Communication Limited – the

licenced signal distributor of the DSO in the FCT and Trefonics, a licenced manufacturer of Set Top Boxes. He said it was imperative to ascertain the level of preparation of all the stakeholders in order to ensure a successful roll-out in Abuja. Mohammed said the Abuja launch is the most ambitious project so far in the DSO, the pilot of which was successfully held in Jos earlier this year, because of its (FCT) strategic location as the nation’s capital.

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Ondo How APC NWC affirmed Akeredolu's candidacy

Politics

Interview Injustice, corruption fuelling crisis in Nigeria – Obioha

12 14

How Oyegun outsmarted Tinubu in Ondo Felix Nwaneri reports on how a combination of forces within the All Progressives Congress (APC) decided the fate of the party's governorship aspirants in Ondo State

acts have emerged on how effort by the National by the National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, to have his anointed emerge as the party’s governorship candidate in Ondo State was frustrated by President Muhammadu Buhari, APC National Chairman, Chief Odigie-Oyegun and the party’s National Working Committee (NWC). The ruling party is presently engulfed in crisis over the outcome of its governorship primary in the state for the November 26 election, which saw former National President of Nigeria Bar Association (NBA), Mr. Rotimi Akeredolu, beating other aspirants including Dr. Olusegun Abraham, who had Tinubu’s backing. The former Lagos governor, who alleged manipulation of the process by the party’s leadership in favour of Akeredolu, described the outcome of the exercise as “a textbook definition of political treachery and malfeasance of the basest order.” He added that the national chairman – Odigie-Oyegun – decided to safeguard the fraud done by perpetrating a greater fraud following the NWC’s decision to submit Akeredolu’s name as APC’s flag bearer for the election. Tinubu’s claim was backed by the party’s National Vice Chairman (South-West), Chief Pius Akinyelure, who also accused Odigie-Oyegun; National Secretary, Mai Mala Buni and National Organising Secretary, Senator Osita Izunaso, of manipulating the process to favour Akeredolu. Both Tinubu and Akinyelure further claimed that Odigie-Oyegun ignored the recommendation of the party’s Appeal Committee headed by Mrs. Helen Bendega that the primaries be cancelled and a fresh one

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Tinubu

conducted. But, New Telegraph gathered that though the panel recommended a fresh primary, there were dissenting voices among members of the NWC. According to minutes of the committee’s 18th emergency meeting of September 19, 20 and 22 obtained by our correspondent, the NWC after a careful and exhaustive deliberation of the Appeal Committee report, resolved to reject it as it was considered to be fundamentally flawed. Among the reasons cited by the NWC for its position include the Appeal Committee’s failure to invite the national secretariat to authenticate or otherwise disclaim the source of the disputed delegates list; failure to invite the national chairman or members of the Ondo State Governorship Election Committee to clarify on the allegation of manipulation on the accreditation process and contradiction in committee’s report in respect of the number of accredited delegates. The NWC also observed that the Appeal Committee contradicted itself when it admitted that the primary election committee substantially complied with the rules guiding the process but still proceeded with nullification of the exercise. The minutes also faulted Akinyelure’s claim that an agreement was reached by the NWC to submit a dummy to the Independent National Electoral Commission (INEC) to beat the deadline for the submission of candidates, while a new primary would be conducted. Besides the NWC’s decision, there was a minority report by a member of the Appeal Committee, Ms. Nikky Dozie, in which she claimed that a prepared report from external source was presented to her by the other two members – Bendega an Alhaji Musa Umar (secretary) – to

Akeredolu

The President advised that party guidelines be followed, contrary to what Akinyelure alleged

Odigie-Oyegun

append her signature as the final report of the committee. New Telegraph also obtained the minority report in which Dozie wrote: “I declined as these documents did not represent a collective agreement of members. We never held any conference after receiving evidence both oral and documented. I find this procedure by the two other members as most unbecoming of a committee work.” On claims by Tinubu’s camp that Odigie-Oyegun acted the Presidency’s script in edging out Abraham, a source within the NWC told our correspondent that it was the former Lagos governor, who actually subjected the APC national chairman to pressure to cancel the primaries and order a fresh one. “When the pressure from Tinubu became unbearable, the national chairman reached out to President Muhammadu Buhari, who was on a trip to the United State then to sound him out on the matter. The President denied mandating anyone to cancel the primaries. He said it was a strictly a party affair and that he has nothing to do with it. “Buhari asked the national chairman if he was involved in previous primaries in Kogi, Bayelsa and Edo states. When Odigie-Oyegun said no, the President advised that party guidelines be followed, contrary to what Akinyelure alleged. Buoyed by Buhari’s position, Odigie-Oyegun was now confident to summon the NWC to take a decision,” the source said. New Telegraph also gathered that one of Tinubu’s protégées and APC National Legal Adviser, Dr. Muiz Banire, was the one who wrote to the NWC, advising on the legal implications of cancelling the primaries. A copy of Banire’s letter obtained by our correspondent read in part: “… the rule of election is that once

there is substantial compliance, the election must be upheld. This much the Appeal Committee agreed with but suddenly somersaulted for reasons best known to it. The delegates' list from my opening submission is valid and emanated from proper custody. The process of conducting the election was robust but the Appeal Committee relied on other extraneous issues which are spurious. The only advice for the future is that delegates' list be circulated within reasonable time. The alleged failure to circulate same earlier, even if admitted, stemming from Dr. Aina's evidence, is insufficient to upturn an election but only serves as a guide against the future. “Beyond this legal evaluation, political exigency does not support nullification of the election or revisit of the procedure of conducting same as they create more bitterness than can ever be imagined. Apart from occasioning waste of scarce resources, both human and material resources in this period of austere economy of the nation, it will also constitute serious indictment on the integrity of the members of the Electoral Committee whose efforts had been generally commended by all and sundry including both the NWC and even the Appeal Committee. It would be grave disincentive to others who would be saddled with such responsibilities in future. Thus, both legally and politically, it is unwise to toe the path of the Appeal Committee's recommendations as even courts of law do not tamper with election results lightly. A most recent example is the Kogi election petition results upheld by the Supreme Court. “In summary, I recommend the rejection of the recommendations of the Appeal Committee and the dismissal of the petitions as same are lacking in merit.”

POLITICS PLATFORM

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

How APC NWC affirmed Akeredolu's Minutes of the three-day 18th Emergency Meeting of the All Progressives Congress (APC) National Working Committee (NWC) held on September 19, 20 and 22 at the party's National Secretariat as exclusively obtained by New Telegraph

DAY ONE Commencement The meeting commenced at exactly 3;03pm. The. National Financial Secretary led other members in the opening prayers. National Chairman's Opening Remarks The National Chairman in his opening remarks highlighted the essence of the meeting which was the consideration of the Ondo State Governorship primary election and the primary Election Appeal Committee' reports. He reminded members that the NWC decision was eagerly being awaited by interested parties. He reckoned that in view of the sensitivity of the allegation which was hinged on the alteration of the delegates list, members should carefully review the reports to ensure that the NWC's decision is not reproached. CONSIDERATION OF I.) Ondo State Primary Election Committee: The National Organising Secretary presented a memo to the NWC in respect of the Ondo State Governorship Primary Election submitted by the Committee Chairman, Governor Mohammed Badaru Abubakar. Deliberation In deliberating the report, the attention of the meeting was drawn to page 15 where some aspirants complained on the delegates list, The National Vice Chairman (North-West) and the Deputy National Chairman (North) who spoke in this regard stressed the importance of delegates list in the conduct of such exercise, and wondered why the committee could not seek for clarification from the party. Resolution Having noted the observation, the meeting proceeded with the adoption of the report through a motion moved and seconded by the National Vice Chairman (North-West) and National Vice Chairman (South-East) respectively.

The National Organising Secretary explained that it was one delegates list that was used for the primary. He stated that the few changes in the list reflected the observation of some of the aspirants. He informed the meeting that the injection of Owo LGA list was done in compliance with the unvacated court judgment as advised by the National Legal Adviser. In respect of Ondo East and West, the adjustment was based on the previously agreed 60/40 sharing formulae used in 2014 Presidential primary. He expressed dismay over the Appeal Committee's non-invitation of either the National Secretariat or the Primary Committee for clarifications before reaching its conclusion. Moreso, as he had expressed his willingness to attend the proceedings. The National Vice Chairman (SouthSouth) on his part observed the discrepancies in the Appeal Committee's report which was completely misleading. Whereas the Primary Election Committee's report indicated that 2,774 delegates were accredited, the Appeal Committee's report erroneously recorded it as those who voted in the election, thereby creating false impression of over voting in the exercise. Resolution In order to establish the truth regarding the delegates list and in line with the suggestion made by the National Vice Chairman (South-South), the meeting resolved that the National Organising Secretary should circulate the two (2) contentious delegates list to the NWC members the following day. This will enable members ascertain the level of disparity and whether it has the tendency of substantially affecting the outcome of the primary. ADJOURNMENT/CLOSING PRAYERS The meeting was adjourned at 4p.m. and will reconvene by 3:00pm tomorrow â&#x20AC;&#x201C; Tuesday 20th September, 2016. DAY TWO Commencement The meeting commenced at exactly 4:56pm. The National Vice Chairman (North Central) led other members in the opening prayers. National Chairman's Opening Remarks The National Chairman informed members that he held a meeting with the SGF who briefed him of the attempt being made to resolve the impasse. He stated that one of the suggestions the party was urged to consider was the fielding of a neutral candidate for the governorship election. With the National Chairman's brief and upon presentation of all the documents requested for in the last meeting by the National Organising Secretary, the

Oke

Abraham

National Secretary advised that the NWC should approach the resolution of the impasse through a political solution rather than the review of documents which may be mere academic exercise. The meeting however, resolved to first, of all consider and take decision on the Appeal Committee's report before seeking for any political resolution.

The NWC also observed that the Appeal Committee contradicted itself when it admitted that the primary Election Committee substantially complied with the rules guiding the process but still proceeded with the nullification of the Primary Election. The meeting thereafter agreed to exploit a political solution and mandated the National Chairman and Secretary to commence wider consultation with the stakeholders with a view to arriving at the appropriate way for the resolution of the matter and revert to the NWC before the expiration date for the submission of candidates to the Independent National Electoral Commission.

Resolution The NWC after a careful and exhaustive deliberation, of the Appeal Committee's report, resolved to reject the report as it was considered to be fundamentally flawed for the following reasons: 1) The Appeal Committee failed to invite the National Secretariat to authenticate or otherwise disclaim the source of the disputed delegates list as the custodian: 2) The Appeal Committee failed to invite the Chairman or members of the Ondo State Governorship Primary Election Committee to clarify on the allegation of manipulation on the accreditation process. It rather chose to rely on unsubstantiated evidence(s) of probably procured witnesses as basis for the nullification of the primary. 3) The NWC observed a serious contradiction in the Appeal Committee's report in respect of the number of the accredited delegates. Whereas the Primary Election Committee's report indicated that 2,774 delegates were accredited, the Appeal Committee's report erroneously recorded it as those who voted in the election, thereby creating false impression of over voting in the exercise.

ATTENDANCE (DAY ONE)

II.) Ondo State Primary Election Appeal Committee Report: The National Organising Secretary presented a memo to the NWC for the consideration of the Ondo State Primary Election Appeal Report, in line with Party's Constitution and Guidelines requirements. Deliberation In considering the report, the National Vice Chairman (North-West) observed that it was inappropriate for the National Organizing Secretary to have given to himself the prerogative of harmonizing the delegates list without resort to the NWC. He deplored the situation where delegates list got to the aspirants through a fellow contestant, the issuance of two delegates list and the inclusion of Owo LGA in the list when it was under litigation.

Adjournment/closing prayers The meeting adjourned at 6:48pm through a motion moved and seconded by the National Auditor and National Youth Leader respectively. The Deputy National Secretary offered the closing Prayers. DAY THREE Commencement The meeting commenced at exactly 1:26pm. The National Treasurer led other members in the opening prayers. National Chairman's Opening Remarks The National Chairman welcomed members to the concluding part of the 18th Emergency meeting of the NWC. Reading and Adoption of minutes of previous proceedings The minutes of previous meeting

ATTENDANCE (DAY TWO)

ATTENDANCE (DAY THREE)

Chief John Odigie-Oyegun

National Chairman

Chief John Odigie-Oyegun

National Chairman

Chief John Odigie-Oyegun

National Chairman

Engr, Segun Oni

Dep. Nat. Chairman (S)

Engr, Segun Oni

Dep. Nat. Chairman (S)

Engr, Segun Oni

Dep. Nat. Chairman (S)

Sen. Lawal Shuaibu

Dep. Nat.. Chairman (N)

Sen. Lawal Shuaibu

Dep. Nat.. Chairman (N)

Sen. Lawal Shuaibu

Dep. Nat.. Chairman (N)

Hon. Mai Mali Buni

National Secretary

Hon. Mai Mali Buni

National Secretary

Hon. Mai Mali Buni

National Secretary

Hon. Emma Eneukwu

Nat. Vice Chairman (S/E)

Inuwa Abdul-Kadir

Nat. Vice Chairman (N/W)

Prince Hilliard Etagbo Eta

Nat. Vice Chairman. (S/S)

Chief Pius Oluwole Akinyelure Nat. Vice Chairman (S/W)

Mall. Zakari Idde

Nat. Vice Chairman (N/C)

10.

Alh. Bala Moh'd Gwagwarwa

National Treasurer

11.

Senator Osita lzunaso

Nat. Organising Secretary

12.

Chief (Dr.) George Moghalu

National Auditor

13.

Alh, Tajudeen Olaotan Bello

National Financial Secretary

14.

Hon. Ibrahim Dasuki Jalo

National Youth Leader

15.

Mr. Oji Ngofa

Dep. National Secretary

Dr. Muiz Banire

National Legal Adviser

Hajiya Ramatu Tijjani Aliyu

Nat. Women Leader

Abdullahi Yusuf Gashuâ&#x20AC;&#x2122;a

Abubakar Kari

Abel Ubagha

APOLOGY

SECRETARIAT

Hon. Emma Eneukwu

Nat. Vice Chairman (S/E)

Hon. Emma Eneukwu

Nat. Vice Chairman (S/E)

Prince Hilliard Etagbo Eta

Nat. Vice Chairman. (S/S)

Prince Hilliard Etagbo Eta

Nat. Vice Chairman. (S/S)

Chief Pius Oluwole Akinyelure Nat. Vice Chairman (S/W)

Mall. Zakari Idde

Nat. Vice Chairman (N/C)

Mall. Zakari Idde

Nat. Vice Chairman (N/C)

Alh. Bala Moh'd Gwagwarwa

National Treasurer

Alh. Bala Moh'd Gwagwarwa

National Treasurer

10.

Senator Osita lzunaso

Nat. Organising Secretary

10.

Senator Osita lzunaso

Nat. Organising Secretary

11.

Chief (Dr.) George Moghalu

National Auditor

11.

Chief (Dr.) George Moghalu

National Auditor

12.

Alh, Tajudeen Olaotan Bello

National Financial Secretary

12.

Alh, Tajudeen Olaotan Bello

National Financial Secretary

13.

Hon. Ibrahim Dasuki Jalo

National Youth Leader

13.

Hon. Ibrahim Dasuki Jalo

National Youth Leader

14.

Mr. Oji Ngofa

Dep. National Secretary

14.

Mr. Oji Ngofa

Dep. National Secretary

APOLOGY

Inuwa Abdul-Kadir

Nat. Vice Chairman (N/W)

Inuwa Abdul-Kadir

Nat. Vice Chairman (N/W)

Dr. Muiz Banire

National Legal Adviser

Dr. Muiz Banire

National Legal Adviser

Alh. Tajudeen Olaotan Bello

National Financial Secretary

Alh. Tajudeen Olaotan Bello

National Financial Secretary

Hajiya Ramatu Tijjani Aliyu

Nat. Women Leader

Hajiya Ramatu Tijjani Aliyu

Nat. Women Leader

POLITICS PLATFORM

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

candidacy

Banire's legal position Letter by the APC National Legal Adviser, Dr. Muiz Banire (SAN) to the party's National Chairman on the legal implication of cancelling the primaries

Izunaso

Akinyerule

was read and the following corrections: i). On page 4 paragraph 1, line 5 the sentences therein commencing from the word "done" were reframed thus: "in compliance with an unvacated court judgment as advised by the National Legal Adviser in respect of Ondo East and West LGAs, the adjustment was based on the previously agreed 60/40". ii) Under item 2 of page 6, paragraph 2, the phrase "and upon presentation of all the documents requested for in the last meeting by the National Organizing Secretary" was inserted in between the Chairman's brief and the Nationaf-Secretary. Having effected amendments of the identified errors, members unanimously adopted the minutes as amended through a motion moved and seconded by National Vice Chairman (SS) and National Auditor. There was however, a dissenting voice from the National Vice Chairman (SW). 18 04 Stakeholders consultations The National Chairman informed the meeting that some level of consultations with the stakeholders took place but were not exhaustive enough. due to the time constraints occasioned by the date line for submission of candidates. As such, the party has the option of complying with the INEC dateline or stand the risk of being shut out from participating in Ondo governorship election. He however assured the members that whichever way the decision of the meeting goes it will not preclude the ongoing consultations from continuing. Deliberation Deliberation on the issue was polarized as members either supported the idea of submitting a dummy to INEC pending the "political" resolution of the matter or submitting the name of the

winner of the primary election. Members held on to their respective positions with convictions that it remained the right decision to be taken. For instance, it was the opinion of the members with preference for a dummy that the arrangements put in place for credible and transparent accreditation were not completely adhered to. As such, it will be wrong to state in good conscience that the right aspirant emerged as the winner of the exercise. On the other side, there were those with the opinion that since the primary election substantially complied with the rules guiding the process, it will amount to injustice should the name of the winner, not be submitted: as the party's candidate. Resolution Having exhausted deliberation on the matter, it was resolved that being the final day for submission of candidate by political parties, and having members sticked to their positions, the National Chairman called for balloting through the open secret balloting. The National Organising Secretary however raised a point of order in which he drew the attention of members to their previous decision in which the report of the Primary Election Committee was adopted while that of the Appeal Committee was set aside. The implication of these decision he reasoned was that a decision to submit the name of the winner of the primary Election was already taken unless the NWC will now reverse its earlier decision. The Chairman accordingly concurred with the position of the National Organising Secretary and ruled that the previous decision of the NWC be upheld. Adjournment/closing prayers The meeting adjourned at 2:49pm. The National Vice Chairman (South-South) offered the closing prayers.

have carefully gone through the report of the Appeal Committee on the petitions against the just concluded Ondo State Governorship Primary Election. I have also taken into consideration the pieces of evidence relied upon by the committee in arriving at its recommendation that the election result be nullified and a fresh election to be conducted. Based on my observations, I hereby make the following submissions: On the allegation of fake delegates voting, apart from the oral evidence of the so-called delegates, is there any other credible evidence unequivocally showing that such fake delegates actually participated in the primary election? Did the committee verify the names of such fake delegates on the Register? How did they get the accreditation cards? How did they get into the venue? How did they get the ballot papers? All these queries require answers that the committee's report did not answer. It is also important to determine the source of the delegates' list. Who or which organ of the party is appropriate to issue delegates' list for an election of this nature? It is incontrovertible that it is the NWC of the party. If the list emanated from the NWC, it is authentic except if it is proved that the list emanated from some other source or sources which is not the case. The Appeal Committee did not bother to verify or confirm from the NWC the source of the delegates' list. To freshen the memory of the NWC, the two local governments complained of were cleared by the last meeting of the NWC before the election wherein we got submissions on the two pending court cases. In the first one, the court case was already dismissed thereby paving way for recognition of the delegates' list originally challenged in that lo- Banire cal government. It was not used hitherto because it was challenged, hence no manipulation of the list in this regard. As per Owo Local Government, the delegates' list was equally not used then because it was challenged. However, upon the determination of the issue submitted to the court, judgement was given in favour of the recognition of the delegates' list. An appeal was entered by an interested party but no stay of execution order was obtained and neither was the appeal diligently prosecuted. Consequently, the only valid list in existence as at the time of the primary election, based on the subsisting court judgement, was the list cleared to be used by the NWC. Again, having cleared same, NWC cannot reprobate on it. Therefore, it is my submission that the Appeal Committee goofed in this regard as they failed to ask nor answer this crucial question as to who or what body of the party is the appropriate organ to issue delegates' list which is the gravamen of all the complaints. They did not bother to find out whether the NWC confirmed the authenticity of the delegates' list. To agree otherwise is to constitute an indictment on the NWC as it is the aspirants that would now determine who would be their personal delegates. The implication of fake but accredited delegates participating in the primary election despite the robust procedure adopted by the Electoral Committee which had been commended and adopted by the NWC suggests collision on the part of the officials? Did the Appeal Committee invite the electoral officials who conducted the election? No. How did they verify the allegations other than through supposed extraneous evidence not before them by alluding

to stage-managed drama on the Television which we are all used to? Anybody could have procured that. It is a very unreliable piece of evidence. No court relies on sentiment in adjudication but hard facts. An interaction with those who conducted the election could have thrown more light on this. In the absence of such, speculative evidence relied upon is unsustainable. Therefore, I will urge the NWC not to be swayed by such sentimental insinuations. Furthermore, as at the time of accreditation into the main hall and voting, no complaint about the status of the delegates was raised except allegations that the delegates' list was doctored and nothing more. No agent of the complainants raised any issue as per the status of any delegate and none was shown in the report of the Appeal Committee to have been received prior to or during the election. Any of the accredited agents should have raised alarm as per the competence of certain delegates to vote and not wait till the outcome of the process. Did they not see the purported fake voters? Those witnesses who claimed to have fraudulently participated in the primary election should have been asked to produce the person who procured them, who gave them money. They ought to have been asked why they did not protest. Were they hypnotised? Is it likely that if the candidates of these so-called delegates had won, they would not come out to testify on the election? Someone even claimed to have been procured by a food vendor to participate in the election. The Appeal Committee did not bother to ask for the name of the food vendor and on whose behalf was the food vendor acting. All these go to show the incredible state of the evidence relied upon. We can continue to multiply these questions. Moreover, the test used by the Appeal Committee is never used in the determination of issues. As stated by the Committee, there were also positive reports that equally believed the credible nature of the process endears us to the populace. The reason why such perceptive positions are never applied in this situation leaves much to be desired. Finally, the rule of election is that once there is substantial compliance, the election must be upheld. This much the Appeal Committee agreed with but suddenly summersaulted for reasons best known to it. The delegates' list from my opening submission is valid and emanated from proper custody. The process of conducting the election was robust but the Appeal Committee relied on other extraneous issues which are spurious. The only advice for the future is that delegates' list be circulated within reasonable time. The alleged failure to circulate same earlier, even if admitted, stemming from Dr. Aina's evidence, is insufficient to upturn an election but only serves as a guide against the future. Beyond this legal evaluation, political exigency does not support nullification of the election or revisit of the procedure of conducting same as they create more bitterness than can ever be imagined. Apart from occasioning waste of scarce resources, both human and material resources in this period of austere economy of the nation, it will also constitute serious indictment on the integrity of the members of the Electoral Committee whose efforts had been generally commended by all and sundry including both the NWC and even the Appeal Committee. It would be grave disincentive to others who would be saddled with such responsibilities in future. Thus, both legally and politically, it is unwise to toe the path of the Appeal Committee's recommendations as even courts of law do not tamper with election results lightly. A most recent example is the Kogi election petition results upheld by the Supreme Court few hours ago. In summary, I recommend the rejection of the recommendations of the Appeal Committee and the dismissal of the petitions as same are lacking in merit. Thanks, Sir. Yours faithfully,

POLITICS \ INTERVIEW

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Injustice, corruption fuelling Nigeria recently celebrated her 56th independence anniversary? What is your take on present state of the nation? On the anniversary day we became supposedly independent and a free people, mood deserted us and our childrensâ&#x20AC;&#x2122; faces were showing obvious apprehension. Maybe, this day and season will awaken once again the spirit of Nigerians to accept and face the challenges confronting our country, which are daunting and critical. In the situation such as we have found ourselves, patriotism should takeover from partisanship and primordialism. The economy is the numero uno and the vexed issue in Nigeria. In reality, life in Nigeria for about 98 per cent of the population is really brutish. Recession when mixed with inflation is truly a frightening phenomenon. A layman's understanding of inflation is high prices of goods and coupled with recession which is excessive unavailability of expendable incomes and down the road we most likely could drift into economic depression that can throw us into a more devastating economic morass. We must then rise to the occasion and do the needful as angel Gabriel and Saladin conveyed to their respective faithful in similar words and meaning that they will only give them what they need and not what they want. Nigeria is at a cross roads and we need our elites to do some stock taking and retrospection and unite to sincerely accept that enough is enough and save the country. What are the needful things you think we have to do as a nation? There are two countries that we ought and should be in healthy competition with. The countries are Venezuela and South Africa; one an oil producing nation and the other neither a non oilproducing nor an exporting country. Venezuela with a population of 30 million people has 20,000megawatts of electricity output mostly hydro, while South Africa with a population of 36 million has 44,000megawatts of electricity. Nigeria at peak can hardly produce 5,000megawats. We need to alert our economists to work away from their unworkable postulations and recommendations on how to rejig our economy in the abject absence of the required energy to propel any utopian recovery. Many decades ago, highly populated nations ran their economy with little electricity. We have to revisit those economies and practically do what those countries did and then plan and quickly build up our electricity out-put because Nigerians are aware that we are going nowhere without powering ourselves if we are to create an economy that will put our people on any meaningful pathway to greatness and full employment. Energy, the lack thereof is our bane and it is quite inexplicable that one man is burdened with the responsibility of manning the Power ministry with both Works and Housing ministries; three key heavy ministries and we wonder how in the world we can change and improve our current situation.

Chief Ralph Obioha is a Second Republic member of the House of Representatives and chieftain of the National Democratic Coalition (NADECO). He speaks on the Muhammadu Buhari administration, governance and economic recession, among other issues. TEMITOPE OGUNBANKE reports Some of these actions defy rationality. We need a workaholic with requisite knowledge and expertise to work on our energy provision with clearly set benchmarks and above all funds and full authority to produce results, a kind of marshal plan. The economies we are talking about is one without energy which is counter balanced with agriculture, engaging millions of hands to produce food and cash crops for local consumption and exports. In the 40s, 50s, 60s and 70s, Nigeria boosted her economy with three cash crops of palm produce, groundnuts and cocoa and we were number one producers of those commodities in the world. The manpower is with us in abundance only requiring political will for a revolutionary implantation. Many land armies can be mobilised to descend on Mambila Plateau, an enviable expanse of land covering over 75 million hectares of land most suitable to produce the finest tea, grapes for wine making, coffee and fruits, vegetables and flowers. Foreign exchange from this region will make what we obtain from crude oil pale into gross insignificance. A massive re-cropping of palm in the South-East and South-South will again restore our position as number one in the world with huge realisable foreign exchange. The South-West will embark on massive re-cultivation of cocoa, again restoring us as number one in the world. The North will unleash an aggressive production of groundnut and cotton, engaging millions of hands and making massive exports that will awash the nation with foreign exchange. This places the ministries of Agriculture and Employment into engines of revolutionary production engaging millions of Nigerians in employment. Yes, it can be done; all that is required again is the political will, planning and execution. Are you saying agriculture is the way to go? Yes. What Nigeria urgently need today is to create the enabling environment to engage the millions of our youths to gainful employment. This cannot be sourced in white collar jobs or employment in government. The two sectors just mentioned can only engage a handful. The theatre of action is in the agric sector which encompasses the cash crops earlier mentioned and the enormous potential in the animal husbandry, piggery, poultry, sheep and goat breeding, etc. Most Nigerians may not be aware that Nigeria stands out as a major producer of poultry products and we are also exporting. The agric sector which holds a vital key to putting millions of Nigerians into meaningful employment is desperately requiring government intervention, practical input and strategic planning. Our economists should please spare us the outlandish unbaked blueprints usually culled from the weather

Obioha

beaten and freshly dusted-up international financial experts exporting solutions tailored in the well established economic models with steady fundamentals not addressing the core reality of an economy without energy.

The President must be advised to change course and turn his administration into a transformational one

What do you think have held Nigeria back? In today's Nigeria, corruption has eaten so deeply in our society that it is universally being accepted that it is in our DNA. It is in our government, religious bodies, parastatals, schools, hospitals, police, institutions of state, homes and most dangerously in our justice systems. After the most frustrating past 12 months, it is indeed a travesty that not one high profile conviction has been secured in the plethora of mind boggling volume of looting and stealing revealed daily on the pages of newspapers which prompted the former British Prime Minister to describe corruption in Nigeria as fantastic. The current government approach to tackling this menace is first to set-up a Corruption Taskforce. When a fisherman collects his net to go fishing, and casts his net, he can only achieve a harvest of some catches and not all the fishes in that water. What the government should expect to accomplish is to adopt a holistic approach to bring to book what the net brings in without fear or favour and purely for deterrence and swiftly dis-

pense justice. It is destructive for us to dwell forever on this corruption mantra without end because it is becoming stale, unproductive, grass and turning into a joke. The government should consider other legal and constitutional ways to combat corruption adhering and meeting the rule of law requirement. The government can adopt two approaches to accomplish its fight against corruption. It is a fact of life that corruption cannot be completely eradicated. In today's Nigeria, what a vast majority are seeking is that corruption should be vastly curtailed and reduced. What are the approaches you think government can adopt to curtail corruption? Approach number one is for the government to use existing codes in our penal system to fight corruption. Some people will say, it is easier said than done. Those people are right, but again the issue of political will looms. Other people will point their fingers at the corrupt judicial officers and operators of our justice system and throwup their hands in frustration. The government should insist that the constitutional stipulations have tied the government hands to follow due process and follow the gridlock of judicial process in order not to be accused of adopting extra judicial dispensation of justice. Our constitution empowers our president to employ legitimate

POLITICS \ INTERVIEW

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

crisis in Nigeria – Obioha avenues to tackle issues inimical to good governance in order to safeguard society, institutions of state, law and order in the polity. Approach number two is for government to approach the judiciary and find out the problems it is encountering in the slow dispensation of justice in Nigeria. The legislative arm will also be approached to make laws that will create special courts on corruption and specifically legislating time-lines for adjudication of cases as has been done in the past with matters involving tribunals for electoral purposes. Nigerians are restless at the snail and slow process that characterise the pursuit of corruption cases, which is giving the impression that the government is not honest in ensuring that corruption fight, the major mantra of this administration is not being pursued with vigour. This administration must vehemently resist any attempt by any sector or group in the society to undermine the very profound essence of governance to tolerate looters of our national resources by a corrupt few with nonsensical submissions such as blame game, selective justice and partisanship. Introducing these lame excuses cannot by any stretch of logical imagination exonerate those in the net. What can be argued is to point out to government the need to ensure an even application of the process to all and sundry. Perception is not skin deep especially in administrating a diverse society such as ours. Strength in diversity is a slogan voiced by those in control. There is a deep rooted negative perception in Nigeria today that prosecutions of corrupt officials and individuals are tilted against members of the opposition. Yes, due process and rule of law grind very slowly but the excuse flies in the face of this government failure to score even one conviction or one discharge as the case maybe in the widely publicised cases of corruption in Nigeria. Nigeria is indeed very lucky that Boko Haram did not at its inception announce that the formation of the terrorist group was to fight corruption in Nigeria. If that body had launched its campaign with fight against corruption as its reason of coming into existence, it would have easily captured the entire country, because its followership would have grown in bounds. We must not fail to link corruption with the advent of Boko Haram. Members of the group are folks living in our midst; they are not ghosts and their doctrine found traction in Nigeria partially due to pervasive corruption and massive poverty even as much as I admit that the Boko Haram factor is not unique to Nigeria, a fact check will show that discontentment in certain societies is mostly driven by poverty, and so recruitment is easy as the converts will feel that they have nothing to lose. The solution lies in the approach already adopted by government which is centred in dialogue. It is the right approach and an appeal should go to those who may wish to exploit the situation by factoring what they will gain in the bargain to have a re-

The fifth platform should focus on Revenue Generation. It will include Ministry of Finance (Supervision), Ministry of Customs and Excise, Ministry of Income Taxes and Ministry of Value Added Tax (VAT), Goods and Taxes Collection. While the sixth should be a Special Platform, comprises of Ministry of State Security Coordination, Ministry of Foreign Affairs, Ministry of Justice and Attorney General, Ministry of Federal Capital, Ministry of Police and Ministry of Defense.

think. Nigeria should never contemplate giving-up considering the excessive hardship already visited on innocent Nigerians.

Government says it has conquered Boko Haram but at present there are crises in different parts of the country with agitations by militants in the Niger Delta and Biafra agitation in the South-East.... I believe the same approach should be applied in the restlessness in the South-East and SouthSouth respectively on the Biafra and Niger Delta issues. The root causes of these agitations are feelings of injustice, neglect, corruption and lack of opportunities. Many of those who voted for President Muhammadu Buhari during the last election did so on the firm belief that he will be a transformational leader but certainly he is not. The President must be advised to change course and turn his administration into a transformational one. What solutions would you recommend for Nigeria to move forward? The solution is not definitely in the alarm bells of writers and pundits who write alarming litanies of our countless ills. Yes, we have all admitted that corruption, mismanagement, waste and reckless and unbridled consumption have indeed landed us in this threat to our national survival. This administration should consider a transformational agenda moving forward. We should consider a massive reorganisation of what we have on hand. We should consider a new ministerial structure that looks like a six structural ministerial platform tailored to meet the constitutional requirement of one minister from each state of the federation. First, we can have a production platform, which will comprise of Ministry of Agriculture (Supervision), Ministry of Seeds Production (Groundnuts, Cotton, Soya Beans), Ministry of Palm Produce (cashew), Ministry of Cocoa and Forestry, Cassava, Yam and also Ministry of Mambila Plateau (Coffee, Tea, Grapes, etc). Second is Infrastructure Platform, which will comprise Ministry of Works, Roads and Highways, Ministry of Railways, Ministry of Aviation, Ministry of Ports and Waterways, Ministry of Rural Development and Ministry of Niger Delta. Third is Strategic economic platform, which will comprises of Ministry of Petroleum and Hydro carbons, Ministry of Energy, Ministry of Science and Technology, Ministry of Mines and Minerals, Ministry of Water Resources, Ministry of Housing and Urban Development, and also Ministry of Lands, Survey and Documentation. The fourth platform is Services and Social platform. This will include Ministry of Education (Supervision), Ministry of Primary Education, Ministry of Secondary Education, Ministry of Higher Education, Ministry of Labour and Employment, Ministry of Pension and Social Services, Ministry of Environment, Ministry of Statistics, Population Enumeration and Demographics, Ministry of Sports and Ministry of Health.

It is destructive for us to dwell forever on this corruption mantra without end because it is becoming stale

Obioha

Do you think the structure you are proposing will address Nigeria’s problems? Yes, because this revolutionary structure will emphasise on lean, and result oriented approach. It will eliminate civil service indolence, waste and infectiveness. The new structure, apart from meeting the constitutional requirement, is tailored more to create productivity and fast-track the overall improvement and efficiency in governance. It will dramatically change our heavy reliance on one product revenue source. It will deliver improved services to the society. It will generate higher revenue for the running of government services and programmes. It will create millions of jobs and opportunities. It will shift emphases on the mentality of government jobs and unleash the entrepreneurial energies of Nigerians. Consider what will evolve in the revenue status of Nigeria, when results of various ministries in the Production Platform comes alive in the next five years, when millions tonnages of our cash crops hit the world market. We nebulous unproductive ministries creating heaps of paper works when we can institute working ministries supervising real and tangible productive initiatives. An economy without energy was what our pioneer leaders inherited at the birth of our nation. Nnamdi Azikwe, Obafemi Awolowo and Ahmadu Bello practiced an economy without energy and they made the best out of the situation and earned a pass mark. There was no crude oil to seduce us to spend

and consume without checks and balances and get addicted to easy money. There were no coordinated national policies on strategic matters. Rather we were on shifting policies that lacked substantive direction. Nations are administered on iron-clad policies such as education policy, monetary policy, foreign affairs police, health policy etc. On paper, we have them but in practice a letter emanating from the presidency can direct the governor of Central Bank to pay anybody any amount so desired by an official. Apart from the absolutely invalid and physically challenged Nigerians, the government should not contemplate paying able bodied Nigerians monies in whatever guise as poverty alleviation rather, they should be mobilised as land armies and introduce a revolutionary ‘return to land’ scheme to start massive cultivation and recropping of cash crops, food production and animal husbandry in large scale, targeting huge exports for foreign exchange earnings. A decisive plan must be adopted to control the expenditure profile of the state governments. It makes absolutely nonsense to ignore the expenditure habits of the state governments considering the bailouts the Federal Government dishes out to them from time to time. Bailout is a veritable tool to control the state governments by the Federal Government. It is quite understandable that the Federal Government fearing social unrest in the polity considers it a lesser evil to pay bailouts than risk the consequences of not providing bailouts. But for how long will this practice persist? It suits the state governments to claim federalism when they do not want to be held accountable to the ways and manner they expand state funds by insisting on drawing huge security votes with no consideration whatsoever that workers salaries should be the first draw before any withdrawal from the states consolidated revenue. The Federal Government should seriously consider establishing six federal Liaison Commissioners to supervise the states' profligacy in spending to check their excesses. Worried by the economic recession in the country, some people have suggested the need to overhaul the federal cabinet and reduction in cost of governance. What is your take on that? The wide spread calls from many quarters for an overhaul of the cabinet as currently constituted should be seriously considered provided that the change being requested for is a complete change in direction of government approach. But if the change is only for bringing in new faces it is not worth the effort. If it is just providing positions for a new crop of ministers let the current ministers stay put because not much would be achieved from the change. All past Nigerian governments both military and civilian see criticisms as enemy action and hardens their resolve never to yield an inch. They see yielding to such criticisms as weakness whilst in other climes the governments quickly respond to such criticism to satisfy the governed. How we respond to criticisms is both primitive and unproductive.

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Opinion Are judges above the law? TREASURES BOLA BOLAWOLE turnpot@gmail.com 0807-552-5533 (sms only)

had intended to write on the speed breakers that the Federal Road Safety Commission was thrusting down the throats of vehicle owners and the resistance being mounted against it before the story broke of the Gestapo-style invasion of the homes of some judges by the Department of State Service. Both are very important stories. Speed breakers are meant to help reduce carnage on our roads. According to the FRSC, studies have shown that 58 per cent of road accidents are caused by excessive speed. This figure is high and troublesome; meaning that if speeding can be brought down to acceptable limits, then, there is the likelihood that the rate of fatal accidents can be reduced by about half. This could mean that about half of the lives being lost to road accidents might be saved. If these figures are correct and speed breakers will work effectively to curtail speeding by drivers, then, the decision to force it on car owners must be deemed a wise one. But trust Nigerians, they have advanced a lot of reasons against the devise as well as its timing. Some arguments said the system is obsolete and have been replaced in the advanced nations. Some have queried the timing, in view of the economic recession which has visited untold hardship on Nigerians. Yet, others have doubted the motive of the initiative: Is it not to make emergency millionaires of some well-connected people? Apart from these, studies has also shown some other causes of carnage on our roads. These include recklessness (which may not necessarily be accompanied by excessive speeding); irresponsible behaviour (such as drunk-driving, making phone calls, fiddling with the CD, and watching movies while

driving); bad roads; expired tyres; mechanical faults, some of them occasioned by lack of adequate attention arising from paucity of funds or sheer carelessness; the flooding of the market with sub-standard or fake spare parts; lack of expertise on the part of mechanics, vulcanizers, etc; and the unprofessional conduct of law enforcement agents themselves. Because of the bribes they seek to collect, they have been known to cause fatal accidents while chasing errant drivers or as a result of illegal checkpoints mounted at dangerous bends and corners. So, speed breakers alone will not totally solve the problem; a holistic approach is thus advocated. The cost of the device must also be reasonable; quality of products must be assured; the sale must be democratized and not be reserved for a privileged few; and vehicle owners must be given ample time to save to purchase the devise. Back to the judges, which include two Supreme Court justices as well as judges of Federal and State high courts; they were reportedly arrested on corruption charges. This is demystification of the Judiciary; especially with the involvement of the Supreme Court. I am not aware something of this nature had happened in recent history. As would be expected, the Nigerian Bar Association has spat into the air over the matter; other sections of the polity have also taken umbrage. The question that must, however, be asked is this: Are judges or justices above the law of the land? The answer must be a categorical “No”. Judges have no immunity; even though we refer to them as “My Lord” and they wield awesome powers, such as sentencing someone to death, they themselves are not immune from arrest and prosecution while they hold office. I find it very difficult to fathom why it is only the Executive that enjoys immunity while the two other arms of government, the Legislature and Judiciary, which respectively make as well as interpret the law, are exempted – or, better still, have exempted themselves – from enjoying this largesse. That being the case, the grouse

Judges have no immunity; even though we refer to them as My Lord

of those quarrelling with the arrest of the judges is not the arrest in itself but the manner of the arrest. In a democracy such as this, there are due processes to be followed; law and order is the norm, no strong-arm tactics or trampling of the law may be entertained. Judges have laid down procedures for interdiction where this becomes necessary; not following it terribly fouls up the system, rubbishes the third estate of the realm, and casts aspersion on the integrity of the Judiciary as an institution. I do not think that the President Muhammadu Buhari administration expects Nigerians, after what the DSS has done to the judges, to treat the Judiciary with respect any more. And we had seen this brewing for quite some time. Both the EFCC and DSS had complained that lawyers and judges were shielding the corrupt and impeding the war against corruption. President Buhari himself had similarly expressed his frustration with judges and lawyers. So, it is reasonable to expect that this is a sting operation by the authorities to punish the Judiciary and rubbish it. It is decidedly an operation meant to prove to the public that the Judiciary is corrupt. The authorities must have planned this for quite some time, biding their time for the right moment to launch the kill. Once they deemed the moment auspicious, they were not going to allow the niceties of due process and rule of law come in the way. They must have reasoned that what they hope to gain – rubbing the Judiciary’s nose in the dust – will more than compensate for the backlash of not following due process. Ultimately, if they succeed in showing that the Judiciary is corrupt, they would have won some plaudits; even then, many would still take exceptions to their style. This is not a banana republic. And I thought we said our democracy is growing! As for judges and lawyers, they must look inward and purge themselves. Corruption amongst politicians is bad; it leads to resources meant for development going into private pockets. Corruption amongst judges is worse; it seals any hope of getting reprieve and justice for the abused and society at large.

Abians await salvation from Supreme Court Tony Icheku

or sometime now, Abia State popularly known as "God's Own State" has been mired by the burden of bad leadership. In the Okezie Ikpeazu versus Uche Ogah tussle, Abians see their liberation coming. The judiciary had been described in our country as the last hope of the common man, and Abians pray in their own case such would still hold true. It is therefore a bundle of lies that the state would break out in chaos and anarchy if the Supreme Court judgement is in favour of Uche Sampson Ogah. That is the propaganda of the oppressive regime and the clique that has held the State in bondage. Abia would break out in celebration if Ogah is declared governor by the Supreme Court, and the following reasons would suffice. Currently the State is in economic coma as a result of the inability of the State government to pay salaries of civil servants for the last eight months. For a State where the government is the largest employer of labour, the implication of this needs no elaboration. Indeed, as they gnash their teeth in

frustration, Abians have since realized that the current government of Abia state headed by Governor Okezie Ikpeazu is arguably the worst government the state has the misfortune of being cursed with in terms of poor performance and corruption. In the whole of the South East, Ikpeazu now ranks the worst governor so far and in the history of the state, this is the first time a sitting governor is spending close to two years in office with absolutely nothing to show despite the allocations accruing to the state. More worrisome is the latest attempt by the governor to use his on-going court case as an excuse for administrative ineptitude, incompetence and non-performance. This excuse would be laughable if it wasn't offensive to the common sense. Is Ikpeazu the lawyer handling his own case? Isn't it funny, in a negative way, that Gov Ikpeazu who has the habit of bringing not less than 12 SANs to court to represent him will now start using his court case as a justification for his non-performance? Maybe, the government to learn a lesson or two from Dr. Chris Ngige, the former governor of Anambra state who despite his travails in office including being kidnapped plus the countless challenges he encountered in the hands of his then godfather, Chris Uba, went ahead to leave last-

ing legacies for Anambrarians within the three years he spent in office. For Ikpeazu, one year has gone by and there is absolutely nothing to show except the impoverishment of Abians. For the eight months, Gov. Ikpeazu has refused to pay salaries, workers and pensioners have been wallowing in abject poverty while the common Abians have been dying of starvation. In this same period, Ikpeazu has been renting crowds and paying each person the sum of N2000 just to come to the streets carrying placards in his favour, holding rallies with the aim of creating the false and terribly misleading impression that Abians are solidly behind him. The fact of the matter is Abians wish to see him leave the seat he is occupying. Talk about Emperor Nero (Ikpeazu) fiddling while Rome (Abia) is burning. In their desperate attempt to garner public sympathy, Ikpeazu and his group came up with some fictitious report alleging that his removal by the Federal High Court, Abuja was a kind of a civilian coup d'etat. Well, the only coup Ikpeazu should be afraid of is a legitimate coup Abians are eagerly praying for from the apex court when he will be sent packing and the rightful winner, Dr Uchechukwu Sampson Ogah, a philanthropist per excellence finally ushered into the Government House, Umuahia to give Abians the good

governance that has eluded them for far too long. Isn't it strange, very strange, too strange, even, that the administration of Ikpeazu which has been in office for 16 solid months cannot boast of at least one, just one tangible achievement despite N58billions that has accrued to the state as the monthly allocation from the federation account plus other billions generated internally and from othe sources, since he assumed office. Where did all these monies go to? Abia and Abians need saving. God's own state is in political bondage and enroute to perdition. Their prayer is that God uses the Supreme Court to deliver the State For the past one year and four months Ikpeazu has been masquerading as Abia governor, the state has witnessed lack of creativity and foresight in governance. corruption in high places, administrative ineptitude and tactlessness in governance. Aba - the commercial nerve center of the South East has since become a shadow of itself, and progressively getting worse. The whole city is now filled with refuse such that it is now almost impossible to not to jump to the conclusion that the formerly commercially bubbling city has become a giant refuse dump. •Icheku, journalist. writer. blogger.

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rejected the electricians insisting was held in 1930, Africa was not that only League winners would represented. That has not in anyway be allowed to take part. Stationery diminished the outcome. Nothing Stores had flown the country’s flag has been taken away from Uruguay in 1967 and 1968 respectively, as who won the trophy. And FIFA did Challenge Cup champions. not at anytime relegate that edition The NFA rushed back home to the background even if some Euand organised what was known as ropean teams felt the South Amerithe Amachree Cup which Rangcans should not have been given the ers won. That victory earned the hosting rights. Flying Antelopes their first contiThis conspiracy of historical nental ticket when they were still inexactitude against Rangers should less than a year old. And they gave not be allowed to stand. In fact, this is even time to a good account celebrate this of themselves, team which getting as far as was denied the the quarter finals This conspiracy league title in before bowing to a most horrenASEC Mimosas of historical dous manner of Cote d’I voire. inexactitude against in 1972. The One take away NFF must confrom that debut Rangers should not tinue to ask for was that they bebe allowed to stand forgiveness for came known as Rangers International after defeating Secteur Six of Niger Republic 1-0 in Niamey after a 1-1 draw in the first leg at home. The Coal City Boys defeated Kaloum Stars of Guinea in the Second Round. Anyone who denies credit to Rangers and fails to acknowledge it as their first League victory is either being mischievous or has no knowledge of history. It is like saying that the Golden Eaglets, victory at the Maiden U-17 World Cup should not count because it was not a championship. It is not the number of teams that makes a league. The present League as constituted today is far larger than what obtained in the 1970S. We should also learn from FIFA. When the inaugural World Cup

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Three things cannot be long hidden: the sun, the moon and the truth – Buddha

No diminishing Enugu Rangers

elebrations are still on going all over the nation and beyond following Enugu Rangers’ league triumph after 32 years of emptiness. The party mood, which may not fizzle out so soon, is hinged on the premise that after over three decades, the Flying Antelopes are back to the top, where they rightly belong. Beyond this year’s league success, there is history which some fans and writers have failed to acknowledge. Rangers have set a record of being the first to win the league eight times and not seven times as many believe. It is therefore wrong to claim that the Coal City Boys are at par with younger sibling ,Enyimba of Aba, who have won seven times. For the avoidance of doubt, Rangers won the League in 1970,1974,1975,1977,1981,1982, 1984 and 2016 respectively. The Aba Elephants triumphed in 2001, 2002, 2003, 2005, 2007, 2010 and 2015 respectively. It is thus clear that the Flying Antelopes are the most decorated side in the Nigerian League. History will not forgive those who have chosen to ignore the fact that Rangers won what would be called the first League title in 1970. It was hurriedly organized because the Confederation of African Football [CAF], refused to accept Nigeria’s entry for the 1971 Africa Cup of Champions Club [today’s CAF Champion’s League], Lagos NEPA. NEPA had won the Challenge Cup in 1970 and were entered for the continental competition. CAF

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denying the team success. In 1972, P.O.C. Achebe, who was an administrative secretary at the NFA, worked out a formal league. With a match to go, Rangers led comfortably, followed by Mighty Jets of Jos. The Plateau team needed to beat their opponents ,Bauchi Wunti with at least eight unreplied goals to win at away. Rangers were to face Octopus of Port Harcourt in Enugu. The Flying Antelopes had beaten the Army team from the Garden City 5-1 at away and were ready to do better than that in the last match in Enugu. Wunti had not lost a game in Bauchi , so it was easy to predict where the trophy would go. Octopus refused to honour their last match which today would have given Rangers three points and

three goals. But at that time, FIFA had introduced a new rule of two points for , with a two-goal advantage to any team whose opponents refused to honour a match In Bauchi, scores stood at 1-1 after 45 minutes. Then the absurd happened. Jets scored eight goals in the second stanza. It was not just enough to give them the trophy if Rangers got the statutory two points and two goals from Octopus. That did not work. The NFA, led by Chairman, Commander Edwin Kentebbe and Secretary General, Oyo Orok Oyo, convened a full council meeting in Benin City. The verdict? Rangers were declared victors over Octopus but with neither the corollary two points nor the two goals. Mighty Jets thus became champions through a Boardroom fraud. And they crashed out in the first round on the continent in their fraudulent debut. We believe that the records should be set straight. Rangers are a gift to the Nigerian League and this latest victory must be acknowledged as their eighth, which other teams should strive to equal. It does not help trying to put the heads of Enyimba and Rangers together. Rangers are the best in the Nigerian league and remain the only team to have won it without losing a match. That was in 1974. Enyimba are the best Nigerian side in the CAF Champions league. So far, they have won it twice. And both teams are siblings having being founded by the same person: Chief Jerry Enyeazu.

FEATURES

John Charles

f there is any one sore spot in our governance process and public service participation, pension and its administration is it. For ages, since the establishment of the Pension Transition and Administration [PTAD] agency, its historical antecedent has been oscillating between one fraudulent case to another. The nation was awed by the sheer looting of pensioners’ funds by those appointed to manage them in order to make retirement claims less cumbersome and make public service more interesting. The ones that caught the nation gasping for breath were the news of monumental pension fraud perpetrated by few pension managers which almost crippled the very intention for setting up this interventionist agency. Despite the investigations carried out and the revelations, a lot of those alleged pension fraudsters are still at large. The fate of pensioners is often compounded by the fact that the agency has not lived up to its billing in helping to act as stop gap between government and its retiring employees who are due for pension collection. What we often see is a collection of pensioners moving from offices to offices in search of their deserved pensions after serving and retiring from public service. These days they have gone ahead to form unions that now act as veritable platform to agitate for their rights. Rather than get required results, what they often get is mere rhetoric that never attempts to cushion the debilitating effect of the non-payment of their pension. Some die, others suffer in the hands of avoidable ailments while some just resign to fate. The intention behind the setting up of this agency is no doubt a holistic one, designed to act on behalf of pensioners to make the transition from being a worker to a pensioner more flexible and seamless. But what has been at issue is the conduct of those who have had the privilege to manage the organisation. The appointment of Barrister Sharon Ikeazor, as the new Executive Secretary by the present administration may just be the needed tonic to fire the agency’s adrenaline back to functioning. Ikeazor, easily described by those who have interacted with her as “Madam Anti-corruption”, belongs to the Muhammadu Buhari’s school of thought which abhors corruption in all its ramifications. A lawyer of thirty-one years standing, Ikeazor comes from a background of legal and political activism spanning so many years. Both as a legal practitioner and political participant, Sharon has remained a shining example of the incorruptible Nigerian whose article of faith is probity, accountability and prudent management of resources. Possessing a strong voice for women emancipation and political participation, she has acquired over the years’ experiences that now readily placed her as a round peg in a round hole with her present appointment. How she will deploy

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Ikeazor: New thinking in pension administration?

Ikeazor

her rich experiences in managing people and situations will be a matter of time as she executes her functions as the Executive Secretary of this all-important organisation. She gave a teaser of what to expect in her new job when on Wednesday, October 5th, she formally assumed her new role at the headquarters of the agency. Not given to too many ego-massaging protocols, Sharon took the microphone to deliver his acceptance speech to the admiration of all the staff of the agency who had gathered to welcome her into her new office. She did not only display a rare understanding of the workings of such “trouble-spot” organisation, she gave a pointer to her sense of direction and what to expect in the years ahead; “it has been a painful history that pension payments to millions of retired workers have been habitually delayed for months, sometimes even years before they are paid out. It is quite probable that a number of retirees die before they collect their pensions. This ugly trend must change”. According to her, “for the working person, pension is one of the most important aspects

It is quite probable that a number of retirees die before they collect their pensions. This ugly trend must change

of fiscal reward for their term of employment yet it generally seems far-fetched and often disenchanting. This should not be the case. Pensions are not gifts or bonuses but due payback for investment of many years of service; earned and deserved.” Then she lamented over the agency’s shortcomings. “PTAD has been burdened by a plethora of challenges in the past. Challenges I do not believe are insurmountable. It is my commitment and that of every PTAD staff and every stakeholder, to do the very best to change the orientation for improved performance, honesty of purpose and instil integrity which an organisation of this nature requires,” she said. For Sharon, there is a huge task in fixing an agency that has derisively become a cash cow to many thieving executives who rather than pay pensioners their entitlements, often help themselves by misapplying the agency’s funds. Furious over the poor records of the agency in meeting its target and obligations to pensioners, the new boss thundered: “No pensioner or retiree after serving his or her fatherland, should ever be forced into the indignity and painful uncertainty

of delayed pensions. We owe them that, from the lowest to the highest rank. No one should ever be left behind. Pension payment shall be a pleasure rather than a pain under my stewardship.” She comes into this job with versatile experience spanning many years in the banking and legal profession. She has also cut her political teeth having been actively involved in political engineering and party administration. As a former National Woman Leader of the Congress for Progressive Change (CPC) in 2011 to being interim Woman Leader of the All Progressives Congress (APC), and a member of the Board of Trustees of APC, she has political experience going for her. What will matter in the coming days and months is how much of that experience she’s able to deploy to achieve her set objectives in line with the organisation’s core mandate. One of the huge challenges inherited by the Buhari administration is on how to improve the lives of the average pensioner by ensuring that their entitlements are paid as and when due. Coming from a history of nonperformance in the agency’s set goals and objectives occasioned by fraud and sharp practices, Ikeazor, no doubt, has a herculean task before her. First is the fact that she will be dealing with inherited staff and management who have been part and parcel of the previous old order of maladministration. Secondly, it is how to deal with the negative perception which the agency has brought unto itself by the unwholesome practices by previous executives. And thirdly, is how to swim safely and differently in an environment and among personnel who are already used to doing things in a peculiar way. No doubt, she needs to do serious purging and re-orient the minds of those who will be vested with the responsibility of managing different portfolios. She needs to overhaul the agency by building confidence and ensuring that the right quality staff and personnel are made to manage the various departments. The perception must be refocused to be that of service delivery and meeting the core mandate of the agency. If she must get it right, she must display her pan-Nigerian orientation. As a woman who is ethnic-blind, her ability to carry out geo-political balancing in line with federal character principles will be a right step in the right direction. As she settles down for business, a huge task at that, it is hoped that by the time she would be bowing out after her tenure, her success story will be the turning point in the historical antecedent of the organisation. •Charles, a public affairs analyst, writes from Kaduna and can be reached on jccharles@yahoo. com

WEDNESday, OCTOBER 12, 2016 NEW TELEGRAPH

Life in the city

The Mega City

Adjusting their belts over recession

Life in Mega City Caging the land grabbers

21 23

...EXCLUSIVE LAGOS MAGAZINE

A man displaying second hand women underwares in the market

Second hand goods to the rescue As the economic recession bites harder, corporate workers in Lagos have devised means of going about the hardship. They now turn to imported used clothes, popularly called Okrika, as alternative to new designer dresses. LADESOPE LADELOKUN reports

en Ahize is an Imo Stateborn trader around Railway at Agege area of Lagos State. Ben never planned early in life to sell second-hand wears. Like his friends, he had plans and dreams. He wanted to bag a degree in a Nigerian University, get a plum job and all the comfort life can offer. But fate had another plan for him. He managed to

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

get a National Diploma certificate in the face of the storm of his life. According to him, things didn’t work out as planned and he decided to concentrate on giving his children a better education. For Ben, his second-hand, otherwise called Okrika business is not one he wishes to quit anytime soon because of the profitability. “This business puts food on my table and it is a very profitable business. On the average, I get N8,000 as my daily profit. And one thing about the business is the fact that I even have more patronage now and sales have shot up due to the current economic downturn. People now abandon the big shops to buy from us. When I get my supplies, people from the big shops come to pick the first grade.” On the attitude of Lagos residents to Okrika, Ben said, “People are always shy to patronise us. What I sell is mainly for single ladies and low income earners. But those who belong to the “high class” also park their cars far away

This business puts food on my table and it is very profitable

from us and walk in here. We hardly get customers during daytime, but when it’s dark, they come in droves. Even some married women come here with their husbands,” he said Isa Adamu sells second-hand and new shoes at a night market near Berger Bridge in Lagos. According to Isa, he buys more second-hand shoes than new ones because the demand for them is higher. “I get more money from secondhand shoes than new ones. If I sell one pair of new shoes, you can be sure five pairs of second-hand shoes must have been sold. My customers buy more used shoes than new ones, even when they go for the same price,” he said Second-hand goods have different names in local parlance. Apart from the fact that used wears are called Okrika, second-hand items like phones, laptops, cars, and fridge come under monikers like London use and Tokunbo in local parlance. But why would anyone abandon brand new items for a Tokunbo or Okrika? Durability? Favourable Price? For Mrs. Akinbode Abimbola, second-hand bras give her value for her money unlike new bras. According to her, she has been buying second-hand bras over a decade and has never been disappointed; to the extent she doesn’t see herself buying new bras again. She said: “I buy

second-hand bras because they last longer than new ones. I’m not afraid of contracting any disease because I wash them thoroughly before usage.’’ Dismissing the claim that only the poor buy Okrika bras, Abimbola said, “ Some people erroneously believe that the price is lower. Okrika bras have grades. The price is equal to new ones or even higher, depending on what you are buying. It’s about durability. I used to buy new bras but before two weeks, I would start getting signs that they were getting bad. The bra I’m wearing now is Okrika and I’ve been using it for more than two years. I’ve been wearing Okrika bra for more than 10 years now and I’ve never for once regretted it. And on the two occasions that I bought new ones, I regretted it,” she said Another Lagos resident, Mrs. Deola Adeleye, who was spotted buying a second-hand bag around pen cinema in Agege, Lagos, said she would always buy second-hand bags because new ones have always failed her. To Deola, second-hand bags are cheaper and better. She said, “This one is durable. But, if it’s a new one or Aba made, it’s a different story. The price of second-hand bags is lower and it’s higher in quality. For me, it’s not CONTINUED ON PAGE 20

20 LIFE/MEGA CITY

WEDNESday, OCTOBER 12, 2016 NEW TELEGRAPH

CONTINUED FROM PAGE 19

proper to buy new bags or Nigerian bags. I’ve been buying Okrika bags for over 14years now. I used to buy new bags or Nigerian bags, but I later discovered I was wasting my money.” Buttressing Deola’s position, Mrs. Iyabo Olamilekan, who was also buying a bag for her daughter said,” I prefer second-hand bags to new ones. I bought a bag for my son since he was in JSS1 and he’s about to graduate from secondary school. The boy is still using the bag. But, if it were a new ones, I’m sure I would have changed it for five or six times,” she said. However, an economist, Tolu Babajide, expressed concern about the growing appetite for second-hand goods. To Tolu, nothing is unusual about buying used items. “Something must be wrong with us if we have come to accept what is abnormal to be normal. We live in strange times. We are not secondhand people, why should we be comfortable with used items? If One looks at it critically, the high rate of poverty in the country is largely responsible for it. I don’t think anyone would buy a used attachment or underwear if they can conveniently purchase a new one that is of high quality.’’ He added, “When you look at

Fairly used bags

Second hand women underwears

Second hand goods to the rescue most used items that are sold, they are foreign products. I think a lot can be done by government all levels to encourage local production of these used items by creating an enabling environment such that the quality of what we produce here can be at par with the used items we import. We can then place a ban on used items and

Nothing is unusual about buying used items

strictly enforce it,” he said. But a sociologist, Mr. Wale Bolarinwa, opined that people will continue to buy second-hand items as long as the conditions that allow a market for such items remain. “It is true that the economy is harsh and we are not a producing nation. These are issues. As long as these issues are not addressed,

people will continue to buy used items. And, don’t forget that buying a used item can also be a thing of the mind. Some people are ready and willing to buy anything that comes from Oyinbo. It does not matter to them if what is coming from another country is inferior to what we have here,’’ Wale said.

Buying, selling thrive at Obada market Farida Mohammed

ocated in a suburb of Imota area of Lagos State is Obada market, a small local market sprawling around the megacity. The market is as old as the formation of Ikorodu Local Government- more than 20 years ago. It consists of 30 lock-up shops, 200 open stores with spacious space for mostly farm produce traders to display their farm produce. The market opens every three days from 9.am to 5pm. Varieties of goods such as food stuffs, house hold items, farm produce especially, are usually on display at every three day interval. Interestingly, the traders do not only sell and buy; there is a strong sense of contentment and communal lifestyle among them in the market. They are indeed their brother’s keeper. They help themselves to sell their wares. A trader can afford to leave her wares in the custody of her neighbour and go out. She is sure of

Traders in Obada market

getting her money for whatever is sold behind her. Some of the traders in the market describe their experiences… Mrs. Ajayi, a yam dealer, popularly called ‘Iya Onisu’ while expressing her contentment for the market applauded the management of the market for handling the affairs of the market properly and thoroughly. “I am comfortable with the environment. I don’t face any problem. I only pay N50 for ticket to the local council every three days. It is only when it rains that we face minor challenges due to the drainages that are not through. Aside that, all is well. We only plead to the Federal Government to do something on the prices of goods that keep climbing up daily.’’ Another trader in the market who deals in vegetables, Mrs. Ebun Shodupo, claims the patronage in the market is quite impressive, but for some cultist that came to the market to disturb them.

There is a strong sense of contentment among the traders

“I make a lot of money from selling vegetables. My profit in a day starts from N10,000 and above. However, there are many cultists around this place, causing havoc and menace in the market, disturbing our sales.” Other problems facing the market place according to the traders include, lack of good toilets facilities, lack of potable water supply, bad roads and paths, lack of good drainage among others. However, the problem seems it would not linger for long, as Fola Adeshina, senior executive officer for markets of the Imota Local Government council promised to further develop the market. “There are steps being taken to improve on the condition of the market as we

speak. We have mounted footsteps at the front of the market stalls for people to ply on especially when it rains. We also are planning to repair the pipe borne water system and planning to fence the market place as soon as possible so that the place can be secured. Also, the boreholes and the toilets are not functioning well enough, we are planning to repair it,” he promised. He however decreed the poor disposition of the market traders to paying their taxes as and when due. “For all the work to be done, we are soliciting to the market men and women for support to pay up their taxes promptly, also reduce the waste of the amenities provided in the market.”

LIFE/IN THE CITY 21

WEDNESday, OCTOBER 12, 2016 NEW TELEGRAPH

Adjusting their belts over recession Hopelessness is the word that aptly captures the mood of most Nigerians. For the hopeful ones then, the slang used to be – e go better, meaning things will get better. But that slang seems not to hold sway any longer as the economic recession is taking its toll on all Nigerians irrespective of social status and things are actually getting ugly. YUSUF MOHAMMED reports

he situation is so bad to the extent unemployed Nigerians, mostly youths, have turned to crime as a means of survival. Young men are stealing, while more young ladies are getting attracted to one of the oldest professions (prostitution). According to some residents of Ojodu Berger, Ikeja, theft has now become rampant. Nanma Labar, a resident, told New Telegraph that her phone was snatched from her at broad daylight. “As soon as I stepped out of my house on a Monday morning, someone on a motorbike snatched my phone from me as I was about to make a call. I am not the only one who has experienced this. It has now become a daily occurrence here.” Pointing to a direction of youths playing card, she said “look over there; most of them don’t have any means of livelihood. All they do is loiter around and gamble. The unfortunate part is that some of them are graduates.” A club manager in a popular night club at Opebi Allen, Ikeja Lagos, who simply gave his name as Tony, told New Telegraph that more ladies, especially those who ought to be in school or doing reputable jobs are now selling their bodies for stipends. “Since the economic problem, we see new faces every day. Some of them are students of tertiary institutions trying to fend for themselves. As you can see, they aren’t bold enough to stand on the main road. So, they sit at the bar, hoping for patronage. Unfortunately for them, people don’t come here like they used to do. The few who come here only buy one or

Scantily clad women

Thieves apprehended for stealing phones

two bottles of drink and feed their eyes,” Tony said. It is as if people are no longer living but surviving. Almost everyone is living for the day. These days, at every corner of Lagos, the talk on every mouth is always about food and ways of getting daily bread. In fact, a slang was made out of it- ‘no more food satisfaction but have you eaten?’

More ladies are now selling their bodies for stipends

Extravagant life style at the pub

As much as it is a statement of fact that human existence without food is difficult, it wasn’t a topic the way it is nowadays. According to a food vendor popularly known as Mummy K “Have you eaten?” is now the most common question, while “I haven’t eaten” has become the most common answer.” Wherever you go, you hear cries of hardship in the land. The hardship has become so unbearable that some parents are trading their kids for bags of rice. That is how bad things have become. Last month, an unidentified middle-aged man abducted two siblings in Satellite area of Lagos. He exchanged them for two bags of rice in a shop at 63, Marwa Road, near Chemist Bus Stop after deceiving the shop attendant that he was their father. That is the extent some people gone to eke a living. Mr. Rotimi Obajemu, who makes shoes for a living is complaining bitterly of low patronage. He said that, “I use to make more money when the economy was better. Today, people think of what to eat more than any other thing. A hun-

gry man would think of his stomach before his appearance. In that case, who do I sell my shoes to?” He urged the government to pump money into the economy so that it can be business as usual. “The situation is terrible my brother” cried Baba Abdullahi, who is a fashion designer at Mafoluko, Oshodi, area of Lagos, “My son has been fired from his place of work due to the bad economy. He is 33 years old. Yet, I am the one feeding him. I left my father’s house at the age of 19. I am a fashion designer. This is the shop I used to train my children up to university level. At my age, are they not supposed to be taking care of me? He added that, “this government promised that they would create many jobs and pay N5, 000 to every unemployed graduate. Till date, they haven’t kept to their promise.” However, the positive aspect of recession is that Nigerians are learning to live within their means. Extravagance has become a thing of the past. A Nigerian youth, Kunle Adesina, told New Telegraph that he used to buy three bottles of beer even when he didn’t need to. Today, he says he buys “only one bottle of beer.” According to him, “this isn’t the time to spend money unnecessarily. I still go clubbing with friends because all work and no play will make me a dull person. But the difference is that I have cut cost. There is now more money in my account, thanks to the recession. It is has made me a better manager of money.” In a similar vein, a 300 level student in a private university, who pleaded for anonymity, said her parents used to send her more than what she needed. Due to the economic situation, they have reduced her pocket money. “I have become a better manager. I used to spend money anyhow I liked in the past but now, I spend according to my needs. I now know my priorities. It has taught me to become a better manager. I save more than before because I don’t have a choice. I buy food stuffs and cook instead of going to the cafeteria every day.”

22 LIFE/MEGA CITY

WEDNESday, OCTOBER 12, 2016 NEW TELEGRAPH

Busy markets of Ojodu Abiodun Street Farida Mohammed

t was strictly a residential area of badly planned houses. Ojodu Abiodun, a border area between Lagos and Ogun states became an area that accommodates people of different tribes. But that is not the attraction of this area. The attraction is that Ojodu Abiodun is also a domain for street trading mostly at evenings. Market thrives by the road side in this area. Most residents who spoke to New Telegraph said that Ojodu Abiodun is a whole community to itself. According to them, living there, they need not go shopping because the environment provides all they need. There are complexes, big ware houses, large cold rooms among other important factors in the area. Street traders compete with recklessness of motorcyclists, raising dust to both the eyes and wares displayed by the roadside. Over the years, the population of people in the area continues to grow at an alarming rate, while lockup shops and mini shopping complexes spring up thereby making the road even busier. Aside street trading and the economic attraction of this area of Lagos and Ogun states, the other side is that it has a high concentration of northerners, who deal in used goods. They dominate a large portion of Ojodu Abiodun. Well Ojodu Abiodun has its odd side of a terrible road. The road is in a deplorable state. They have broken into bits and there are deep holes that can be mistaken for water well because there are murky waters in them. It is indeed a horrible experience going on in Ojodu Abiodun. On daily basis, motorists and pedestrians groan while navigating though the pot-hole filled road. But New Telegraph observed that the pains of the motorists are the joy of the traders as their business on the road thrives. Madam Ashiru, who earns her living by selling vegetables and other condiments on the busy road, claims it’s quite profitable being close to the road because it makes her wares quite more accessible to the road users. “Many cars and motorist pass by to buy food stuffs because it is close to the main road. The area is good, market really moves here. Often times, there are no sales in the morning but booms in the evening.’’ To Ashiru, the road side market is more profitable especially as she will lose no sleep for payment of shop or have to transport herself to and fro. All she needs do is just stroll down the roadside and display her wares for the day’s sales. When asked on the challenges faced for trading on the road side, she said: “It is very risky. A car can veer off the road and ram into us easily. Also when it rains, the environment gets flooded and some motorist splash flood on wares and on my body. Additionally, the road is not good at all. The waste accumulates in the drainages and pollutes the area” Another trader, Miss Rebecca, who sells both ripe and unripe plantains claims, her sales moves faster than those inside the shopping complex. According to her, formerly she made between N8,00 and N10,000 in a month, but now, the least she makes

Plantain trader sitting by her wares

Bunches of ripe plantain on display

is about N15,000 a month. She also expressed her concern on the risk of selling by the road side. “Selling on the road side is risky because accidents can occur at any time and one could also be attacked unexpectedly.” Additionally, “there are lots of plantain sellers in the area, which make the competition stiff and I have lost many customers to the competition.’’ However, these street traders activities are governed by the Ojodu Local council where they pay their taxes. Shomade Gabriel, the council engineer of Ojodu Local Council Development Area, said there are laws governing the people, the Federal Government implement laws, which the local

The pains of the motorists are the joy of the traders

r bringing A chacoal selle

m the sack out chacoal fro

government extract some of the laws. “We generate our revenue called internally generated revenue (IGR) from the street traders. What is benefited from IGR is what is being used to develop some programs to make life meaningful to the people, essential services like good road, water supply, drainages,

and transformers to improve the source of energy for power,” he said. He also informed that the Ojodu local government is divided into 6 wards-Ward A-F, the money collected are used to provide essential amenities and poverty alleviation amenities.

LIFE/IN THE CITY 23

WEDNESday, OCTOBER 12, 2016 NEW TELEGRAPH

Caging Lagos land grabbers In an effort to stop the incessant friction between land buyers, developers and land grabbers, popularly known as Omo Onile in Lagos State, the state government enacted a law regulating the relationships. But OGUNBAMOWO ELIZABETH here points out that there are loopholes in the laws

he activities of a group of hoodlums in Lagos called 'Omo oniles' are not strange to Lagosians. So many land buyers in the state had encountered them at one time or the other. They come in groups, usually on motor cycles to forcefully demand money from land buyers and failure to comply had resulted into termination of some building projects. Some people who believe they ought to be landlords by now are still tenants due to the harassment they face from these people. People's complaints over the activities of the Omo Oniles in the state had drawn the attention of the state government in curbing the menace. Just recently, a new property law has been signed by Governor Akinwunmi Ambode, which puts a check on the activities of Omo Oniles in the state. The law had stated particularly that all forms of land grabbing, coercion in demanding fees, forceful entry into people's lands must come to an end. Anyone who fails to comply shall be punished under the law. This is stated in sub section (3) of the law. It says, "A person who commits an offence under the provisions of the 2(2) stated above shall on conviction be liable to ten (10) years imprisonment.” As desirable as the law looks, it has some loopholes in it. Though the law is against omo oniles, it still permits the family that sold the land to demand foundation levy from the land buyer. The lacuna in section 11 (1) says: “A person shall not, whether for himself or acting as an agent demand any fee or levy in respect of construction activities on any property, disrupt or obstruct construction works provided that the provision of this section shall not be interpreted to preclude land owning families under the authorization of the family head to demand the customary fee for possession (in the name of foundation levy) from buyers, or ratification

fee pursuant to judgment of a court of competent Jurisdiction." Yemi Omodele, a Lagos based lawyer, had revealed that the above section, though it cautions against the notorious activities of Omo Oniles, explicitly permits family members to demand foundation fee from buyers but implicitly allows the land owning families to still see the land as theirs till a structure is erected on it. Not only that, that section also allows them to demand foundation levy from that same owner if peradventure he decides to pull down the structure he erected thirty years ago A building under construction and build another. Also, the law permits the request for foundation levy from anybody the former owner, who paid foundation fee, sells the land to. The question now is: If the law curbs the activities of Omo Oniles, why does it still permits the land owning families to make such demand? The question now is ‘will the Omo Oniles actually adhere to what is specified in that law? New Telegraph spoke with some land owners and law practitioners on the issue. A lawyer at the Lagos State Ministry of Justice, who prefers to remain anonymous had affirmed the above speculations and argued against the contradiction of the law. He said that the omo oniles have been truly legalized, but that they would not employ force in collecting the fees. In his words, "omo oniles have been permitted to now collect what is called foundation levy from people provided that they don't employ coercion, force or harassment in collecting the fee and the person Anyone who fails asking for the fee has to be a member of the family that owns the land. Not to comply shall be only that, the person must get the go punished under ahead from the 'olori ebi'. Also, the omo onile and the buyer the law would have to employ the tool of dialogue in the payment of the levy. So, how is it contradictory? The law protects citizens" Responding to the question on if the omo oniles would actually adhere to the specifications of that law, he said, "Why would they not adhere? There are sanctions for breaching that law and anybody that refuses to abide would be duly punished. When a law has been passed, it is binding on everyone in the state. It is only when the case is outside Lagos, that it is not valid" Another Legal practitioner, Chris Ezenwa, had said that the legalization of foundation levy would help curb the activities of Omo oniles in the state. Like his fellow lawyer, he also believes there is nothing wrong and contradictory over the legalization of the foundation levy. He said, " Apart from the fact that the Omo Oniles would not be permitted to use force again, the government gave the members of the land owning

families, particularly to demand for the money and at a lesser price than what was obtainable before. There's nothing wrong with that. It’s even better. So far, what they called it is foundation levy. Then, automatically, the money they demand for roofing, decking, fencing will be out of it. It will just be charged for foundation" He however, believes that families might misuse the opportunity the government is giving them to collect money from land buyers. In his words, “my only fear is that the families might now be charging more, since there is now a legal backing for that. I would want the government to look into that.” Mr. Gbadebo Oluwole, a land owner in Lagos reacted to the issue. He said that he doubts if the Omo Oniles would listen to the dictates of that law. In his words, ‘My experience in the hands of omo onile in Lagos here was a very sad one. Now that their activities have been legalized, it would even be worse. Though government said that they shouldn’t demand much and that they should not use coercion, they would not listen. Omo Onile collecting money from people at different stages of building is not a new thing, they’ve started so long and they cannot be stopped. They would even be using the legal backing they have now to extort more money from people”. He also said he believes that it would be difficult to stop the Omo Onile since that is what most of them do for a living. ‘Most of these Omo Onile are jobless people. So, legalizing foundation levy and telling them to employ dialogue in collecting money is not the solution to this issue. Is it not someone that has eaten that would listen to story? In this kind of economy, they would not listen to whatever you have to tell them, they would still apply force'. Another land owner whose building is still under construction, Mr. Lekan Ojo, also spoke to New Telegraph. He said, "The law they have made is good, but they should remove that

section from there. Now, if they say that the family should collect the foundation levy, then what is the difference? The Omo Onile that do come before now also claim that they are the owners. Some families don’t even have a specific person as their ‘Olori Ebi’. When this one comes today, another will come tomorrow for the same foundation levy. I think they should just remove that part. After all, that does not spoil the law.” Mr. William Akingbade, a land owner and Omo Onile had revealed his views on the matter. He said it is a good thing that the government had done, legalizing the foundation levy. According to him, it is difficult to sell one’s property and have no control over it again. So, the way the government legalized the levy is the best. “I am an Omo Onile myself but this place where my house is situated is not my father's land. I bought it, and as I was building, I paid Omo Onile's levy. I personally believe that the money Omo Onile demand from people is gladness levy. It is out of joy and gladness that people pay such money. Actually, Omo Onile collect the money in stages. They collect foundation levy, fencing levy, roofing levy, decking levy etc. A person who builds to those levels ought to rejoice. So, the money is a thing of joy.” He, however, expressed disapproval over the way and manner Omo Onile demand money from people. He said, “I detest the way some Omo Onile collect the money. Some use force, which is a thing I don’t like. This is the kind of money someone gives out of happiness. So, force should not be employed because it’s not easy to get money and instead of using the money to feed, you buy land. So, I don't encourage that. I just hope that whatever the government wants is what omo oniles should do and not otherwise.” He also encouraged dialogue between the Omo Oniles and the buyers. An official at the Ministry of Lands had mentioned that the law is not one sided and controversial. He said that the law favours both parties. According to him: “In a situation whereby the Omo Oniles don’t use force and seize the tools used again, the land buyers mind would at least be at rest. And also the Omo Oniles, I mean the rightful ones would have something to benefit from the deal. There is no controversy in that law.” He also revealed that there is a hotline people can now call peradventure the Omo Oniles wants to apply force. He, however, refused to respond to any more questions referring to the information as ‘classified.”

24 LIFE/MEGA CITY

WEDNESday, OCTOBER 12, 2016 NEW TELEGRAPH

Fear of rains in Ayobo The rain is meant to be a blessing, to water the plants and generally make the ambience more serene. However, to the residents of Ayobo, Ipaja, a Lagos suburb, it is rather a curse. Flooded streets and houses are usually the order of the day whenever it rains. AYINDE TOBI examines the landscape and how the residents cope

My whole room was like swimming pool and my bed was like bread soaked in water

my way out.” He further admits that the people of the area are indeed suffering from flood and that only the government can alleviate their suffering by constructing the roads within the area. “The commercial buses and trucks passing through our inner roads make it more terrible. Instead of making use of the main road, they take our area as short cuts and this has further worsened the situation of

the few goods road left. I hope the government can help us tar our road so that it will be good for everyone to pass through it.” Honourable Dele Ayinde, the former Executive Secretary of Ayobo Ipaja Local Government Area, blames the low allocation from the state government for the inability of the local council to put the road in a good shape. “During my tenure, the little fund that was given to the local council was what we made use of to fix the road to that extent. I did a one sided drainage there, while the state government also fixed one side of the drainage. The local council also put laterite the road, but the laterite was not enough. I would have finished it but for the low allocation that we had.” He said he had appealed to the Community Development Association, CDA, have appealed to the Sole Administrator, Agbajelola Abiodun to pay attention to the road because it is a road that leads to one of the Health Centres in Ayobo Ipaja, LCDA. Ayinde, however, urged the residents to desist from emptying their trashes inside the drainages whether it rained or not.

QUOTE

OF THE WEEK

We don’t think in a recession, we should be having a situation where we allow people to come and buy when they don’t have money or to come and pay one year rent. We think the way to move forward is to allow these our younger ones to just pay one month deposit and pay one month rent and then more or less play up our rent-to-own scheme.” Lagos State Governor Akinwunmi Ambode while speaking at the Ilubirin Housing Scheme on the Island

IN NUMBERS OC T.

henever it rained, it’s palpable pain for Kehinde Olorunishola, a bachelor who occupies a room in Ajenlanwa Ipaja, a suburb of Lagos. “I am always sad during the rainy seasons. Even when I know I don’t need fan to sleep, because the weather will be cool, I still feel bad. Here in Ajenlanwa, the road becomes bad, and when it rains heavily, the flood is unimaginable.” He further narrated his harrowing experience on one of the bouts of horrifying rains that fell and left many of his properties damaged. “There was a day rain fell heavily at about 1:30 am. I couldn’t sleep that night. My whole room was like swimming pool, and my bed was like soaked bread in wa- Bad portions of Ayobo road ter. My television was also soaked with water and many more of my properties.” properties were destroyed by rain He therefore appeals to the that day. Anytime it rains, I know state government to come to at least one of my properties must their aid by fixing the roads and get destroyed.” rescuing them from the harEven though the drainages have rowing experience they have been constructed, Kehinde blames been battling with for many the flooding experience of his en- years. vironment to the deplorable state For Lukman Tella, another of the road in Ajelanwa. resident of Ajenlanwa, it’s a “If the roads were good, the different ball game. “Although water will pass through the right the rain doesn’t come into my channels. The water won’t come house, my only sad experience into our homes and destroy our is the murky waters while on

Lagos State Task Force demolishes 2,500 shanties in Lekki

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

FCT

Business WHAT'S NEW Guinness Nigeria stock loses N48bn

Infrastructure investment as antidote for strong economy

Maritime Benin Republic controls 63% of Nigeria’s vehicle imports

27 31

Rates Dashboard INFLATION RATE August 2016..........................17.61% July 2016................................17.13% June 2016..............................16.5%

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

EXCHANGE RATE

(Parallel Market October 7)

(Interbank as at October 7)

USD . . . . . . . . . . . . . . . . . . . . . . . N474 Pounds . . . . . . . . . . . . . . . . . . . N595 Euro . . . . . . . . . . . . . . . . . . . . . . . N512

l Foreign Reserves – $24.420bn as at4/10/2016

USD . . . . . . . . . . . . . . . . . . . . . N304 Pounds . . . . . . . . . . . . . . . . . . N385 Euro . . . . . . . . . . . . . . . . . . . . . N340

Source: CBN

p.26

L-R: Guest speaker, Professor Ifeoma Okoye; Group Head, Commercial Banking, Skye Bank, Mrs. Funmilola Oketogun; Coordinator, C.O.PE, Mrs. Ebun Anozie and Dr. Mobolaji Oludara of the Ministry of Health at a Breast Cancer Survivors’ Conference organised by C.O.PE in conjunction with Skye Bank Plc., in Lagos.

Wheat import: Nigeria leads sub-Sahara Africa with N124.9bn p.26

Multi-million dollars Alaoji gas deal tears Total, Frontier apart CONTENT Indigenous oil firms bank on NOGIC act to outsmart oil major

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Adeola Yusuf

he multi-million dollars gas supply contracts to 504 Mega Watt (MW) capacity Alaoji power plant along the Imo River in Abia State has worsened the cold war between French major oil firm, Total and a consortium of indigenous firms, Frontier energy/ Seven energy. Frontier/Seven Energy partnership was given a one year emergency contract to supply the gas to Alaoji Power Plant after Total, which has a domestic supply obligation to supply gas to the plant had been unable to do so. Checks by New Telegraph revealed that despite the expiration of the oneyear emergency contract last July, the local firm made attempts to claw back the contracts. Managing Director of Frontier Oil, an indigenous gas development firm, Dada Thomas, confirmed that he wished Frontier was allowed to continue supplying gas to the same

power plant, a declaration perceived as betrayal by Total. A source at the Niger Delta Power Holding Company (NDPHC), owner of the NIPP, told this newspaper that Frontier went a step further by instituting lobbying to extend the lifespan of the contract. “The contract has a one year life span and six months before its July 2016 expiration date, Total has completed the pipeline for gas delivery to the NIPP plant. But trouble started when the Frontier consortium indicated interest to continue. “We believed that the matter should have died down but we were wrong. There is a cold war between the two companies over this contract, which may affect others,” he said. Confirming moves to extend the contract, Mr. Thomas, Africa oil+gas reportedly said that his company had made representation to the government that they be allowed to continue the supply. Managing Director of Total in Nigeria, Nicolas Terraz, however, said that his company had not let go of the contract and was ready to commence delivery of gas through its Northern Option Pipeline (NOPL) to Alaoji power plant in the east of Nigeria and improve electricity supply in the country. He told a group of parliamentarians in Lagos last July that the delivery of gas to Alaoji in Aba (Abia State)

188 trillion scuf Being the volume of gas resources in Nigeria

was among Total’s huge bouquet of projects that are aimed at contributing to the socio-economic development of the country. The 504MW combined cycle Alaoji Gas Power Station was inaugurated in March 2015, but it doesn’t supply more than 200MW of electricity. Total Exploration and Production (E&P) had earlier announced it had completed the construction of a section of its Northern Option Pipeline, NOPL from Kilometre 38 at Obigbo in Rivers State, to Kilometre 50 at Imo River. The project is expected to help the Federal Government realise its aspiration of adequate supply of gas to the power plants to facilitate improved electricity supply. “This milestone will help bring to reality the Federal Government’s aspiration of improved electric power supply in Nigeria,” the document stated. “It demonstrates Total’s commitment to meeting its promises to deliver Better Energy.” The NOPL is a 24-inch wide, 50 km long pipeline system under construction by Total E&P Nigeria Limited on behalf of the Nigerian National Petroleum, NNPC/TEPNG Joint Venture. The project has the capacity to deliver about 100 million cubic feet of CONTINUED ON PAGE 26

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

BUSINESS |NEWS

BEARISH The decision of Diageo Plc not to proceed with proposed acquisition of 15.7 per cent in Guinness Nigeria has dragged the latter’s share price down by N14.366 billion

Chris Ugwu

tock price of Guinness Nigeria Plc has recorded a 26.54 per cent drop in value in the last nine months, costing shareholders of the company about N48.113 billion of their wealth (between January and October 7, 2016) This is despite the fact that investors of some breweries companies quoted on the nation’s stock market have recorded significant gains during the same period. Guinness, hit by declining sales, dollar shortages and domestic inflation running at 11year high of 17.6 per cent, has slipped from decline in bottom line to record a pre-tax loss of N2.35 billion for the full year 2016, the first loss in 30 years. Investors had reacted negatively to the unimpressive results compounded by the recent decision of Diageo Plc not to proceed with proposed acquisition of 15.7 per cent in the local unit. Investigation by the New

Guinness Nigeria stock loses N48bn Telegraph also showed that the brewer, which currently occupied the second position in terms of share price and market capitalisation closed last Friday at N88.45 per share as against the opening share price of N120.40 at the beginning of trading last January, accounting for a drop of 26.54 per cent. Further checks revealed that the decision of Diageo Plc not to proceed with proposed acquisition of 15.7 per cent in Guinness Nigeria dragged the share price further down by N14.366 billion within four days. Guinness Nigeria made the decision known to its shareholders through the Nigerian Stock Exchange (NSE) on Tuesday 4 October, 2016 when its share price was N97.99 kobo

per share. The share price fell by N9.54 kobo from N97.99 kobo to N88.45 kobo per share between last week Tuesday and Friday, representing 9.74 per cent drop in share value. The total market capitalisation of Guinness Nigeria, which was N147.562 billion as at last week Tuesday, had dropped to N133.196 billion at the end of weekly trading last Friday. Guinness had in a statement to the Exchange notified the general public that further to its announcement on 9 September 2015 of Diageo Plc’s (Diageo) intention to make an offer through its wholly owned subsidiary Guinness Overseas Limited for up to 15.7 per cent of the share capital of Guin-

ness Nigeria, it has received a letter from Guinness Overseas Limited confirming that it has taken the decision not to proceed with the Potential Offer. “In the light of the challenging market conditions in Nigeria over the past 12 months, it proposes to focus its resources on continuing to support Guinness Nigeria. Diageo has confirmed that it maintains a positive outlook for Nigeria in the long-term and that it expects the market to continue to grow. Nigeria remains a key strategic market for Diageo, which remains supportive of Guinness Nigeria, a company with a long and rich history, its board and management and the actions taken by Guinness Nigeria to mitigate

L-R: Lagos State Governor, Mr. Akinwunmi Ambode; Assistant General Manager, Lagos, China Civil Engineering Construction Company (CCECC), Mr. Guan; Permanent Secretary, Ministry of Works & Infrastructure, Caster BadeAdebowale; Special Adviser on Finance & Audit, Mr. Adeniyi Popoola and Director in the Ministry of Works & Infrastructure, Dele Shomide, during the governor’s inspection of the on-going construction of a layby at Berger, Lagos.

Alaoji gas deal tears Total, Frontier apart CONTINUED FROM PAGE 25

gas per day to Alaoji power plant. Inadequate gas supply to the newly built power plants has been an excuse the Federal Government has always given for the poor electricity in the country in recent times. To ensure early gas supply to power plants, the Federal Government had requested the multinational oil companies, including Total E&P Nigeria, to complete various gas supply projects to resolve the situation. The section of the pipeline where the line connects to Nigeria Gas Company, NGC, facilities is vital for conveying gas to the Alaoji Power Plant. Total Nigeria said this intervention for early gas required the mobilisation of additional resources to fast-track the works in order to meet the deadline despite numerous changes associated with the difficult terrain. The gas now being supplied to the Alaoji power plant during the interim period, the company said, would come from Seven Energy, while NGC would transport the gas through their pipeline and the section of the NOPL Nigeria emerged the seventh most endowed gas nation in the world and number one in Africa, with 188 trillion standard cubic feet (scuf) of gas resources. The nation could have been immune from the plummeting crude oil business if strategies focus had been made on this strategic option.

the impact of challenging market conditions,” the statement signed by the Company Secretary Rotimi Odusola noted. The Managing Director/ Chief Executive Officer, Mr. Peter Ndegwa said the combination of a tough economic environment and challenges with naira devaluation had a significant impact on the company’s overall performance. “Our performance this year was impacted by two major factors, one being the very tough economic challenges around consumer spending, driving consumer preferences towards value brands across the sector, the other, and more significant factor being the effect of FX policy and the devaluation of the Naira,” said Ndegwa.

Wheat import: Nigeria leads sub-Sahara Africa with N124.9bn ACCESSIBILITY United States established office in Lagos to service wheat importers

Bayo Akomolafe

igeria is leading other countries in the subSahara Africa in the importation of the United States’ Hard Red Winter (HRW) wheat, with imports of over one million metric tons valued at N124.9 billion ($403 million) as at September 2016. This is despite the recession that has ravaged the country’s economy. Nigeria’s economy, battered by low oil prices and dearth of foreign investment, is set to shrink in 2016 for the first time in 25 years, according to the International Monetary Fund (IMF), which forecasts a 1.7 per cent contraction. The country’s foreign reserves have fallen by more than a third since the end of September 2014 to a more than 10-year low of $24.8 billion. The naira has fallen almost 40 per cent

against the dollar this year. Meanwhile, the price of wheat is $403 in the global market. According to a data by United State Department of Trade (USDT),US had dominated Nigeria’s wheat import market, despite a decrease in market share and increased price competition from other suppliers, such as Canada, Australia and the Black Sea region. Other leading importers are South Africa, Ghana and Angola. It was learnt that the countries comprise 39 per cent of sub-Saharan Africa’s imports. Already, Nigeria has established United States Wheat’s (USW’s) in-country service office in Lagos to build strong Nigerian loyalty to US-origin wheat. With annual imports of over 4 million tons, USDT regarded Lagos as the largest trading hub for wheat in West Africa. Also, data obtained by the United States Department of Agriculture (USDA), indicated that the country would export only 2.3 million metric tons worth $513,682,000 from United States in 2016. Nigeria annual importation of the commodity from United

States in the past was approximately $1.3 billion. According to USDA, Africa accounts for 27per cent of wheat imports on the global market, and in the last 15 years imports grew at a compound annual growth rate (CAGR) of 3.8 per cent, which is above the 3.3 per cent global average. In September, 2016, the Lagos Port Complex and Tincan Island Port took delivery of 293,312 metric tons of wheat valued at N40.18 billion ($118.2 million). The commodity was ferried to Apapa Bulk Terminal Limited (ABTL), Greenview Development Nigeria Limited (GDNL) and Sun Flour Mills (SFM) by nine vessels. Seven of the vessels berthed with 248, 061metric tons at the ABTL of the Lagos Port Complex. The vessels include Desert Eagle with 46,000 tons; Desert Glory, 46, 000 tons Desert Peace, 32,000 tons; Desert Moon, 46,001tons; Desert Oasis, 30,000tons; Desert Victory, 32,303tons; Desert Moon, 11,758tons. Also, Orient Dispatch berthed at SFM in Tincan Port with 16,250tons, while Kingfisher offloaded 33,000tons at GDNL

at the Lagos Port Complex’s terminal E. It would be recalled that in 2013 the Federal Government introduced high import levies to discourage importation of the commodity through the seaport and introduced high yield variety to boost local production. In 2014, it said that average yield of five metric tons per hectare, would be achieved by producing 1.5 million metric tons of the grain between 2016/2017 sessions. The aim is to reduce wheat imports by 50per cent in 2020. Since, 2011, the country had been witnessing sharp decline in local production by 40 per cent, while importation of the commodity was on the increase. The Federal Government’s target was to produce 1million metric tons in 2014 from 212,000 hectares of land and 1.2 million metric tons from a cultivated area of 215,000 hectares by 2015. But it was learnt that nothing had been achieved from the massive distribution of early maturing, high yield wheat varieties to 9,143 farmers through the Growth Enhancement Scheme (GES) in Kano, Jigawa, Kebbi, Zamfara, Borno, Yobe, Gombe, and Sokoto.

WEDNESDAY, october 12, 2016 NEW TELEGRAPH

fct business watch

Nigeria has not fared better in most ratings executed by global organisations. A recent report by World Economic Forum (WEF) on Global Competitiveness Index (GCI) ranked Nigeria 127th position out of 138 countries surveyed. ABDULWAHAB ISA reports that massive investment in infrastructure could change the tide

Adeosun

igerians have accepted the prevailing economic challenge as unusual time. Biting economic hardship, joblessness, high cost of doing business, inflation and unstable macro economic policies are visible symptoms being manifested. Thus, it wasn’t news to most Nigerians when the World Economic Forum’s (WEF) Global Competitiveness Index (GCI) for 2016-2017 ranked Nigeria 127th out of the 138 countries surveyed. WEF’s competitiveness ranking Committed to improving the economic state of the world, WEF, an International Organisation for Public-Private Cooperation, established in 1971, engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. It periodically examines the ease of doing businesses in countries using various indices such as infrastructure, business registration, and education among others. According to WEF’s current report on global ranking competitiveness released last week, Nigeria attained 127th position, ranking very low in health and primary education, and was greatly affected by a weaker macroeconomic environment and poor infrastructures. At 127th position, Nigeria was ahead of Madagascar, Yemen, Venezuela, Congo DR, Liberia, Sierra Leone, Burundi, Mozambique, Chad, Mauritania and Malawi in performance. The report stated: “Nigeria is among the African economies hardest hit by the reduction in commodity prices, falling three places to 127th overall, almost entirely due to its weaker macroeconomic environment (down 27 places) and financial sector (down 10 places). “Although still relatively low, the government deficit has almost doubled since last year and national savings have significantly suffered, worsening the current account position. “Banks are less solid, reducing the availability of credit; despite the central bank ending its currency peg, financial authorities have retained restrictions on access to

Emefiele

Minister of Industry Trade and Investment Nigeria, Okechukwu Enelamah

Infrastructure investment as antidote for strong economy the interbank market, meaning access to finance will remain difficult for many businesses. “Additional factors holding back Nigeria’s competitiveness include an underdeveloped infrastructure (132nd), which is again rated as the country’s most problematic factor for doing business; insufficient health and primary education (138th), with only 63 per cent of children enrolled in primary school; and the poor quality and quantity of higher education and training (125th).” Decaying infrastructure Poor state of infrastructure remains the greatest obstacle to expansion and thriving businesses in Nigeria. Infrastructure is very critical to economic development and competitiveness of any nation. A nation without infrastructure is like a body without anatomy. The country’s level of infrastructure deficit is put at various figures ranging from N5.91trillion to N6.6trillion, representing 25 per cent of the Gross Domestic Product (GDP). The Lagos Chamber of Commerce and Industry( LCCI) put the level of country’s infrastructure deficit at N5.91trillon . The economy is grappling with inadequate power, a development that led to shutting down and relocation of several manufacturing firms from Nigeria to other shores. Dilapidating road network made it difficult for smooth movement of goods from one location to another. Poor commodity income The WEF report also dwelt largely on fall in price of major commodity as part of indices accounting for the country’s poor ranking. The crash in crude oil price at the international market and drastic cut in supply output due to activities of Niger- Delta militants, the region producing crude oil, affected financial posi-

tion of the country. The developments in oil sector put strain on government’s revenue from oil sources, which account for 70 per cent of its earnings. Hence, the government is grappling with difficulty in meeting its financial obligations.

Infrastructure is very critical to economic development and competitiveness of any nation

Government’s response The Federal Government, at various fora, acknowledged that the economy was in dire strait. However, it gave assurances that it was working on lasting solutions that will put it on a permanent track. Both the Minister of Finance, Mrs. Kemi Adeosun and the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, have reechoed the assurance. Speaking last week, Adeosun said the government would do everything required to bring Nigeria back to the path of growth, stressing that Nigeria was too big to fail. She spoke on the sideline of the plenary session of the 2016 International Monetary Funds (IMF)/World Bank meetings in Washington DC . “Nigeria is too big to fail and too significant in the region to under perform,” she said. The minister was reacting to speeches of the World Bank President, Dr. Jim Yong Kim, and the IMF Managing Director, Ms. Christine Largard, urging Nigeria’s government to invest massively on infrastructure. “What we are trying to do is to rewrite Nigeria’s economic story so that we can grow, and to grow we need critical infrastructure such as power, transport and housing. These are where we are redirecting expenditure from our recurrent where we thought there have been a lot of waste and leakages,”Adeosun noted. She said the Federal Government was “redirecting spending to capital to create long-term value. It’s tough in the short term but the long term benefits will be

there for the future generation. “We are confident of getting back to growth,” she assured the international community. With regard to calls by Lagarde and Kim for massive investment in infrastructure, Adeosun said: “If we invest in critical infrastructure, there will be increased productivity, which will lead to job creation and prosperity for our people and it is very comforting to hear this coming from the highest levels that that is the way to go.” Adeosun stated that Nigeria had aligned with the views of the multilateral institutions with regard to inclusive growth, stressing that inclusive growth was one of the objectives of this administration to end poverty. On his part, Emefiele said the CBN had done a lot of reforms like the flexible exchange rate regimes, which is picking up gradually. He noted: “When you have the kind of situation that we have, naturally, people will be a bit skeptical but with time as they develop more confidence, we will begin to see more and more of them coming into the country.” The CBN governor acknowledged: “There are positive indications that meeting and networking with foreign delegations and officials of the IMF and World Bank at this meeting will achieve some of the objectives that we have in mind. We will work together with China to see that we get our fair share of the benefit of being the earliest country to adopt renminbi as an international currency.” Conclusion It’s only by committing massive investment in infrastructure such as power, roads and others that Nigeria can aspire to get premium position in subsequent ranking index. The latest by WEF should serve as a wake up call.

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

BUSINESS |MONEY

bout a month after the Central Bank of Nigeria’s (CBN) June 20 launch of its forex liberalisation policy, international investment and research firm, Renaissance Capital (RenCap), published a note stating that the policy had resulted in the narrowing of the gap between the interbank and parallel markets’ rates. Commending the apex bank on the introduction and implementation of the policy, the firm said that the narrowing rates was an indication that Nigeria was headed in the right direction and was now in a stronger position than other commodity dependent countries such as Angola and Egypt. RenCap’s Global Chief Economist, Charlie Robertson, said: “Nigeria is getting it right … the gap between the official rate and the parallel rate is down from an uninvestable 80per cent to 20per cent. … As we keep telling investors – have a look at Nigeria – they are clearly much closer to a clearing rate for the currency (our Real Effective Exchange Rate 20 year fair value estimate is 315320/$)”. Naira’s persistent slip on parallel market But since that note was published in July, the gap between the official and the parallel markets’ exchange rates of the naira has widened to the extent that while the local currency currently exchanges at about N474/$ on the parallel market, it trades at between N307 and N310 to the greenback on the interbank market. At the time RenCap issued the note, the naira was trading at between N370 and N374 to the dollar on the parallel market compared with its exchange rate of below N320/$ on the interbank market. Interestingly, prior to the implementation of the naira liberalisation policy, CBN Governor, Mr. Godwin Emefiele, had reportedly written a letter to President Muhammadu Buhari (known for his strong opposition to a devaluation of the naira) assuring him that the CBN was “reasonably optimistic” the naira will settle at around N250 to the dollar after an initial period of weakness following the launch of the policy. Wary foreign investors According to analysts, the continuing disparity between the official and parallel markets rates of the naira to the dollar is the consequence of the acute scarcity of forex in the system, which in turn was caused by the failure of the CBN to lure back foreign investors who fled the country when the apex bank initially ignored calls to jettison its naira peg policy and float the local currency. In fact, despite the fact that the introduction of the liberalised forex policy was mainly aimed at attracting foreign investors and that the CBN has also adopted other investor friendly measures such as increasing the Monetary Policy Rate (MPR), investors from overseas have largely stayed away. For instance, in a note obtained by New Telegraph recently, FBNQuest provided data showing that foreign investors were yet to bring in significant inflows since the take off of the

Persistent official, parallel rates’ gap threatens FX liberalisation With the continuing shortage of forex in the system widening the gap between official and parallel markets’ rates as well as renewed calls for further devaluation of the naira, speculation is growing that the development may force the Central Bank of Nigeria (CBN) to abandon its naira liberalisation policy. TONY CHUKWUNYEM writes

liberalised forex market in June. The firm stated: “The success of the new (forex) regime hinges upon sizeable autonomous inflows to supplement the CBN’s. The Financial Markets Dealers Quotation (FMDQ) website shows open futures contracts of $2.9 billion through to August 2017. The portfolio community has shown its hand although Nigerian corporates have probably been the larger players.” It also noted that the widely reported sale by Citibank of $270 million on 29 August for the purchase of longer tenor Nigerian Treasury Bills (NTBs) by its offshore clients had not triggered the re-entry of offshore investors in large numbers. However, while Nigeria’s economic recession and concerns about the ability of the government to revive growth is generally cited among reasons for investors’ wariness about the country, a Bloomberg report last weekend, stated that foreign investors believe that contrary to its claims, the banking watchdog has not fully liberalised the forex market. The investor, according to the news agency, said the CBN had been holding the naira in a tight range around N315 per dollar since the beginning of August, adding that for them to facilitate inflows into the country, the interbank market has to be completely liberalised. It quoted a money manager at Aberdeen Asset Management, which oversees about $9 billion of emerging-market debt, Kevin Daly, as saying: “The market clearly sees that the situation with the exchange rate is getting more and more unsustainable…The central bank’s still micro-managing it. We’d have more appetite if it was at 370.” Indeed, the news agency also reported that Naira forwards have soared to records, an indication that foreign investors see another

devaluation coming. It stated that as at last Friday, contracts maturing in six months traded at 384 per dollar, their highest-ever level, while those due in a year have climbed to 422 from 325 since the end of June.

The market clearly sees that the situation with the exchange rate is getting more and more unsustainable…

EU’s intervention But the calls for a devaluation of the naira appear to have received more public attention last week when an official of the European Union (EU), Phillip Amato, was reported as saying that it was one of the key decisions that the country needs to take to exit recession. He was quoted as saying: “To come out of recession, the country has to take brave decisions, regardless of how unpopular they may be such as fully and effectively devaluing the naira. Devaluing the naira is a measure, which will finally reassure investors and attract new capitals to the country. At the same time, it will further reduce imports, thereby removing artificial forex restrictions, and removing any potential waste of scarce resources such as the fuel subsidy. “Nigeria also needed to take advantage of the devaluation of its currency by diversifying its sources of foreign exchange revenue and this mainly through boosting its non-oil exports,” he added. Perhaps not surprisingly, the EU official’s reported remarks drew sharp reactions from Nigerians who are against any further devaluation of the naira. They argued that such a move at this point when the country is contending with negative growth and high prices could sound the death knell for an import dependent economy like Nigeria’s. Commenting on the issue in a chat with this newspaper, Principal Consultant, Henates & Associates, Mr. Henry Atenaga, said: “I

don’t see how the CBN is going to further devalue the naira given that people are finding it hard to survive following the previous devaluation, which resulted in the increase of goods and services. Nigeria imports virtually everything so if you devalue, prices will go up. That is why I have always warned against it (devaluation).” This newspaper gathered that given President Buhari’s strong opposition to the devaluation of the naira especially in this period of economic recession, the CBN would rather abandon the liberalised forex policy than devalue the naira. A source told New Telegraph: “When Emefiele was introducing this policy, he assured the President that the rate will eventually fall to N250/$. Today, it is N475 and there is no sign that it will even fall to N300. Nigerians are already groaning due to rising inflation, so I don’t see how the CBN can even think of devaluing the naira again at this point.” However, financial experts such as the former Governor of the CBN, Lamido Sanusi, have pointed out that the debate was no longer about whether the CBN should devalue the naira or not, but that it was about the apex bank allowing the liberalised forex market to function as was originally conceived. According to him, the document on the liberalised forex policy was ‘perfect’ and all the CBN needs to do is to implement the policy as stated in the document. He argued that while the naira will initially weaken, it would eventually appreciate when foreign investors, confident that the CBN will not interfere in the market, start to facilitate more in inflows. He noted that the naira was currently undervalued, stressing that with a fully liberalised market, the local currency will find its true value. Similarly, analysts’ at Londonbased Exotix Partners LLP said in a September 26 note that the naira was already undervalued at N315, adding that the currency could strengthen under liberalised market conditions. Conclusion More significantly, experts believe that a fully liberalised interbank market will eventually lead to the narrowing of the official and parallel rates. According to a treasurer at a Tier one bank, who did not want to be quoted: “The most important issue now is the wide gap between the official and parallel rates. The gap should never be more than N10 or N30 otherwise it will encourage speculation and arbitrage.”

BUSINESS |MONEY

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Experts caution banks on fixed income investment GUIDANCE High yields likely to drop in the medium term

L-R: President Mohammadu Buhari; Chairman, Nigeria Economic Summit Group, Mr. Bukar Kyari; and Head of Nigerian Content Development of Shell Nigeria Exploration and Production Company (SNEPCo), Mr. Austin Uzoka, during the president’s tour of Shell’s stand at the opening ceremony of the 2016 Nigeria Economic Summit in Abuja.

Tony Chukwunyem

anks in the country, which have been channeling the bulk of their deposits to fixed income securities in recent times, because of the attractive yields on these instruments, may need to have a rethink. Reason: Financial experts at First Security Discount House (FSDH) have said that this strategy of earning money is not sustainable. The experts stated this in highlights of the firm’s 2016 Banking Industry Report entitled: “Changing Strategies” obtained by New Telegraph last weekend. They predicted that interest rates and yields are likely to drop in the medium term thereby making investment in fixed income securities less attractive than they are at the moment. According to the experts, the slump in crude oil prices and the sharp drop in the country’s oil production coupled with the attendant slowdown in economic activities have impacted the banking industry in the last two years making it imperative for lenders to devise new ways of staying competitive. They stated: “A number of loan customers, both individuals and corporates are finding it difficult to meet their loan obligations leading to rising loan loss provisioning for the banks. This is also hampering the banks’ ability to create new loans. In the short-term, we expect the Nigerian banks to maintain a conservative loan growth because of the current weak economic developments in the country.” Besides, the experts said: “They (banks) need to continue with their deposit mobilisation in order to gain market share. Most of the deposits will be channelled to fixed in-

come securities such as government securities and top rated corporate commercial papers and other debt instruments. Although this strategy may be a winning strategy for the banks in the short-term because of the attractive yields on these instruments, it is not sustainable in the long-term. This is because we expect interest rates and yields to drop in the medium-term, making these instruments less attractive than they are at the moment.” The experts also revealed that the devaluation of the naira has negatively affected the Capital Adequacy Ratio (CAR) of Nigerian banks because it (devaluation) has increased the dollar denominated loans of the lenders without a proportionate increase in their regulatory capital. They, however, pointed out that banks can address the issue of weak and low CAR by increasing Tier 2 regulatory capital and increasing earnings retention rate. According to the experts: “Despite the recent challenges, there are huge banking opportunities in the Nigerian economy. Nigerian banks need

to develop more constructive strategies to increase their share of the non-oil sector in their loan portfolios.” The FSDH experts had last August, pointed out that yields on bonds and treasury bills increased significantly in July because of CBN’s desire to achieve positive real yields on fixed income securities in the market. STOPPED They said: “The fixed income market analysis for July 2016 shows a net inflow of about N134billion, compared with a net inflow of about N32billion in June 2016. The major outflows in July 2016 were the Open Market Operations (OMO) and Repurchase Bills (REPO) of N397 billion, Primary Nigerian Treasury Bills (NTBs) of about N275 billion, and the bond auction of about N120 billion. “At the NTBs auction, average yields increased significantly across the various tenors in July 2016, compared with June 2016. The average 91-day NTB yield stood at 12.45 per cent in July, up from 8.86 per cent in June.” The average 182-day NTB yield closed at 14.91 per cent,

Experts partner to boost corporate finance transactions

anelists at the recent conference organised by the Institute of Chartered Accountants in England and Wales (ICAEW) have agreed that accountants and lawyers need to bridge the gap in communications and collaborate more effectively on corporate finance transactions to ensure efficiency, and avoid delay or potential derailing of the transaction as the result of miscommunication. Speakers acknowledged that accountants and lawyers collaborate well on corporate finance transactions when they are under pressure and working against time. The

speakers called for collaboration from the beginning of the transactions. FCA and ICAEW Regional Director for the Middle East, Africa and South Asia (MEASA), Michael Armstrong, said: “Collaboration between lawyers and accountants is crucial to any successful corporate transaction. Bringing together the legal and financial expertise decreases the risks for enforcement or compliance breakdowns.” Speakers with finance and accountancy expertise highlighted that best results were achieved when working with lawyers who had expanded their knowledge to better

understand finance and accountancy, thereby enabling them to include the findings into sale and purchase agreements. Panellists agreed that having a project manager on corporate finance transactions is critical. Investment bankers or CFOs are the best people for this role as they have both financial and legal expertise. Speakers noted that having strong relationships with clients helps to make the transaction process easier, as clients form the lynchpin between both parties and can facilitate cooperation on the process to achieve the best possible outcome.

up from 10.80 per cent in June. The average 364-day NTB yield closed at 18.67 per cent, up from 14.58 per cent in June 2016. Also, the average 30-day Nigeria Interbank Offered rate (NIBOR) closed at 15.10 per cent in July 2016, up from 10.83 per cent in June 2016. The average 90-day NIBOR increased to 16.54 per cent, from 13.24 per cent in the preceding month. The yields on the FGN Bonds monitored closed higher in July 2016, compared with June 2016.” It will be recalled that in its recently launched 2016 Nigeria Banking report, Afrinvest forecast that the current high yield environment occasioned

by the July increase in the Monetary Policy Rate (MPR) is likely to persist for the remaining part of this year and throughout 2017. The analysts noted: “Given the recent increase in MPR, the yield environment has become quite attractive. Increased deployment of funds to investment securities, which started since 2015, will likely continue in 2016/17 until the structural and macroeconomic concerns in the country are allayed. More so, upward review of MPR implies a higher rate on loans and improved yields on fixed income securities, which in turn will increase the overall rates on interest yielding assets.”

EY launches new business model

rnst and Young (EY) has announced the launch of EY Growth Solutions – a new business model of on-demand solutions, offering companies access to subscription services with inbuilt flexibility, standardisation and competitive pricing. EY’s Advisory Leader in charge of Africa and Middle East, Gerard Gallagher, said: “Companies in the region are impacted by new taxes like VAT, digital innovations and changing customer demand. There is now a strong need especially among mid-sized organizations for quick and specific solutions to issues that depend on technology enabled platforms, analytics and mining of empirical data. Our global insights and the experience we’ve gained supporting the growth journeys of many organizations around the world means we are uniquely placed to help these businesses to super charge their growth plans.” Speaking on some of the offerings, the firm’s Growth Solutions Leader, Sa’ed Gossous, said: “Or-

ganisations are concerned about the ability to cope with the implementation of VAT. EY Growth Solutions can help them assess their readiness using predefined metrics, offer prescriptive advice and help with their growth journey. Our solutions also include social media intelligence. Companies are very interested in understanding consumer behaviour on social media platforms. Our analytics tools use EY’s global IP, which can offer insights and solutions on what it takes to make them brand ambassadors and not just end-users.” EY Growth Solutions are available on a digital platform where companies can directly select the solutions depending on their business needs. The on-demand solutions leverage EY’s global IP, alliances, and digital know-how based on extensive research, which examined the growth journeys of hundreds of companies around the globe, ranging from start-ups to leading businesses, as well as in-depth conversations with business leaders.

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

BUSINESS | INVESTOR

hile it is generally agreed that the Nigerian stock market, which is now 56 years in existence, has evolved to be one of the largest stock exchanges in Africa by capitalisation, some market watchers are also of the opinion that after a series of missteps from the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE), it is now becoming obvious that both regulatory authorities do not have a clue on how to tackle the bearish impasse in the market. It would be recalled that during the boom period between 2007 and 2008, the market capitalisation of equities hit an alltime high of N13 trillion with 212 listed equities and the number of shares traded rose to about 18 billion. But after about nine years, precisely last weekend, the market capitalisation returned to all-time low of N9.560 trillion. Unlike some of the markets in other climes, since the beginning of the economic meltdown in the mid 2008, the Nigerian market is yet to regain its confidence due to the loss suffered by investors and the inability of the market regulators to proffer a lasting solution to restore the market to its past glory as a centre for the nation’s capital formation. The question on the lips of investors is how to turn around the market. Several players in the market are calling for a bail out just like in other global markets that had experienced similar market meltdown. Call for special fund Executive Vice Chairman, Alpha Africa Advisory Limited and the immediate past MD of Asset Management Corporation of Nigeria (AMCON), Mr. Mustapha Chike-Obi, recently advocated for the establishment of a special fund that would create liquidity and boost activities in the Nigerian capital market. Chike-Obi made this suggestion while speaking at the investiture of the 9th President of the Chartered Institute of Stockbrokers (CIS), Mr. Oluwaseyi Abe, in Lagos. He said liquidity and foreign exchange risks are major problems in the market, noting that now that the foreign exchange was being addressed, creation of liquidity for the market must also be taken care of. He said: “It is either a liquidity problem or a valuation problem. I think it is a liquidity problem. We have no liquidity, the foreigners are pulling out and domestically we do not have the capacity now. “Nobody is going to invest money when they cannot eat, when they cannot pay their children’s school fees. So, even if you think that particular shares are cheap and you cannot pay your children school fees, you will sell the shares and pay your children’s school fees. So, we must create liquidity in some form or the other. And my suggestion remains that the government must create a fund that based on certain parameters, can invest in the stock market. So that when there is lack of liquidity, the government supplies the liquidity,

Security and Exchange Commission (SEC) DG, Mounir Gwarzo

Chike-Obi

Stock Exchange: Calls for FG’s intervention re-echo As the bears continue to have a field day at the Nigerian Stock Exchange (NSE), calls on the Federal Government to intervene in the market have reechoed. CHRIS UGWU writes

when there is excess liquidity, the government takes it money out. “I think that will help and create high volumes and I think that will make valuations more accurate because like I said, I know people who are selling their shares now to pay school fees. Even when they believe the shares are cheap.” He explained that the stock market traded about $10 million worth of securities daily but has the capacity to do more if the issue of liquidity is addressed. He therefore called for the establishment of the special fund without further delay. Chike-Obi, who spoke on: “Growth, the only Nigeria’s Imperative,” canvassed for massive investment in infrastructure either through savings or borrowing at a very low rate. Corroborating Chike-Obi, Abe explained that the capital market would continue to be the main driver of the economy. “The importance of the financial system cannot be overemphasised. It is the axle on which the wheel of the economy revolves. A robust financial system engenders a stable macroeconomy. “The capital market is one of the most important drivers of economic growth and development. It is a major source of funding for infrastructure with strong socio-economic impact; and there is a correlation between a robust capital market and accelerated growth,” said Abe. Operators’ reactions Some operators in the nation’s stock market while reacting to the recent suggestion for special fund to boost capital market liquidity, threw their weight behind the need for an interven-

The capital market is one of the most important drivers of economic growth and development

tion fund from the government to help mop up the excess shares in circulation to facilitate market stability. They agreed that the market could only regain its past glory if the authorities provide a bailout fund to stabilise it, as it was done in the banking and textile industries. They added that the fund would boost the market and help restore and sustain investors confidence, which had been eroded since the global financial meltdown set in. Chief Executive Officer, Managing Director, Highcap Securities Limited, Mr David Adonri, stressed the need to inject fresh fund into the market since all efforts put in place to strengthen the market has not yielded the desired fruit. He noted that the function of the primary segment of the market is to provide long-term capital whether in form of equity or debt to finance acquisition of assets, adding that unless the market is revived, meeting such function might be a mirage. He said: “Government as a fiscal authority has a lot to do in respect of reviving the market. The function of the stock market is to form capital for the economy. Stakeholders are worried because the duty of the primary market segment is to provide long-term capital and when reverse is the case, it means that the market has failed in its function to the economy.” National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, noted that what was imperative in the stock market presently is to put strategies in place that would boost the confidence of local investors to stake more fund in the market. He added that this could only be achieved through injection of

fresh capital into the market. Okezie, who said that the market had recorded an unprecedented lull, attributed the downturn to inability of both the Exchange and its regulator to tackle the relevant issues affecting the market. “Despite some improved corporate earnings, the market has not picked up because investors have lost confidence in the market and until something is done to restore this confidence, the market would remain unstable”, he said. Managing Director, Crane Securities Limited, Mr. Mike Eze, who also noted that the liquidity squeeze had made it difficult for the market to thrive, said for the market to recover from losses incurred during the unprecedented lull, there was need for the government to inject more funds. ‘’We have tried everything within our powers and the market is stubbornly holding on. There is need for the government to come and bail out the market. They did same in the aviation and textile industries, Central Bank of Nigeria (CBN) did same with the banks, why can’t they bail out the market, which is the engine room of the economy. “They should provide the intervention fund to mop up the excess shares that are in circulation. That is the only thing that can help this market to come up again. CBN intervened in the bank and cleaned up their balance sheet, took away the excess shares they bought through margin loans and gave them back the monetary equivalence. What about the stock market, can’t same be done in the stock market?” Conclusion Liquid equity markets make investment less risky and more attractive because they allow savers to acquire asset equity and to sell it quickly and cheaply if they need access to their savings or want to alter their portfolios. At the same time, companies enjoy permanent access to capital raised through equity issues. By facilitating longer-term, more profitable investments, liquid markets improve the allocation of capital and enhance prospects for long-term economic growth.

WEDNESDAY, october 12, 2016 NEW TELEGRAPH

maritime

Neighbouring Cotonou Port in Benin Republic has become import destination for Nigeria bound vehicles, as roll on roll off terminals, which used to handle over 400,000 units of vehicles annually, now do only 37 per cent. BAYO AKOMOLAFE reports

he automotive policy, which was introduced in 2013 to encourage auto assembly plants in Nigeria, has created a lot of revenue for neighbouring Cotonou Port. The policy raised the tariffs on imported vehicles from 20 per cent to 70 per cent, leading to diversion of Nigeria-bound vehicles to the ports in neighbouring countries. Used vehicles Before the economic recession, Nigeria was largely a used vehicle market with a ratio of one new car to 134 used cars. A report by PricewaterhouseCoopers (PwC) Nigeria estimated that in 2014, 410,000 cars were imported into the country. It noted that 74 per cent used cars, mainly Toyota and Honda brands, entered the country in the period. Also, the National Automotive Design and Development Council (NADDC) report estimated annual imports at about 400,000 vehicles. It noted that 100,000 vehicles were new, while 300,000 are used vehicles and valued at about $3.45 billion. Vehicle diversion However, in the last three years, Nigeria Customs Service (NCS) has lost N600 billion as revenue due to diversion in the importation of vehicles to neighbouring port. It was learnt that Nigerian ports, which used to handle over 400,000 units of vehicles annually before the advent of the automotive policy, are now

Used vehicles at Cotonou Port, Benin

Benin Republic controls 63% of Nigeria’s vehicle imports handling about 37 per cent annually. The Port and Terminal Multi-services Limited (PTML) at Tincan Island is worst hit, as NCS’s revenue fell by 32 per cent to N63.18 billion in 2015 as against the N91.45 billon in 2014. Similarly, Five Stars Logistics Terminal in the same port also experienced short fall. Recently, the Managing Director of PTML, Mr. Asconio Russo, complained that the volume of vehicles being imported into his terminal had dropped sharply to 72,000 units because of the implementation of the automotive policy. Challenges Also, he identified the manipulations of tariff rates by relevant agencies of government as the major challenge responsible for diversion. Russo said that while Nigerian importers paid lower rates at Cotonou, they paid higher rates in Nigerian ports. He said that PTML had suffered from the effect of the country’s automotive policy.

While Nigerian importers paid lower rates at Cotonou, they paid higher rates in Nigerian ports

Russo explained that while importers paid a fixed amount for vehicles, the percentage benchmark tariff collected at Nigerian ports was a huge source of problem for importers. This is the major reason for abandoning Nigerian ports, he added. According to him, the 35 per cent tariff on used vehicles is too high and has become a source of problem. The managing director explained that the tariff regime charged by NCS entailed that the importer must pay five per cent Value Added Tax (VAT), one per cent inspection levy and seven per cent port surcharge. He noted that only 10,000 units of vehicles were being discharged monthly in Lagos ports. He added: “Nigeria is losing N200 billion to neighbouring ports annually. The volume of vehicles going to Cotonou is on the increase. “Out of four vehicles for the Nigerian market, three are dis-

Freight rates to soar in Nigeria, others

obust Asian demand for crude oil is fueling a worldwide surge in freight rates in Nigeria and other West African countries. From this week, it was learnt that the Very Large Crude Carriers (VLCCs) would further increase freight rates from $10,000 to $20,000 per day in earnings amid tight tonnage supply. According to a Reuters tracking data, the rates picked up after the number of supertanker cargoes from West Africa climbed by 25

per cent since Shell lifted force majeure on Bonny light crude exports from Nigeria in September. Chinese loadings of West African crude are set to average 1.1 million barrels per day in October, the highest since April. The interest in Suezmaxes comes at a time when two key West African crudes, Nigeria’s Qua Iboe and Forcados, return to the global market after a months-long force majeure. Exxon stopped exporting

Qua Iboe in July 2016, after a leak on the line feeding oil to the export terminal. The Reuters tracking data revealed that the first cargo since July 2016 of Qua Iboe loaded at a local terminal. “Nigerian loadings are now scheduled to reach some 1.9 million barrels per day next month. The pick-up has had a clear effect on freight markets,” JBC Energy also said. It stressed that Nigeria exported some 1.4 million barrel per day (bpd) in Sep-

tember. Also, it was revealed that the number of cargoes from West Africa is expected to rise next month with eight cargoes of Qua Iboe crude oil from Nigeria, according to loading plans shown to Reuters. Exports of Qua Iboe crude could move up further in November 2016 with 285,000 barrels per day (bpd) provisionally forecast, according to an initial loading programme.

charged in Cotonou.” He noted that Cotonou Port’s roll on roll off service had experienced 50 per cent growth in the last three years On the statistics of vehicle that were imported through the PTML, the NCS’s Public Relations Officer at PTML command, Mr Steve Okonmah, explained that in 2013, 172, 174 units of vehicles were ferried to the terminal; 129,361 in 2014 while in 2015, only 66,823 units were shipped in. Implication Russo said: “Dramatically, we are losing business while Cotonou is gaining business. Everyone can understand what this means. “This policy is affecting the port industry and this is affecting the overall population because the prices of vehicles are going up in the market and this is something we see every day.” The National President of Association of Nigerian Licensed Customs Agents (ANLCA), Prince Olayiwola Shittu, who was at the PTML terminal recently, also told Russo that his association had always been critical of the automotive policy because the implementation would affect the businesses of its members. Customs statistics also revealed that vehicle smuggling through Seme, Ogun, Oyo, Kwara, Sokoto and Katsina states borders with Benin and Niger were rampant since the auto policy was introduced. Conclusion It has become imperative for the government to review its automobile policy in order to create jobs for the masses and generate revenue for the country.

business \ maritime

WEDNESDAY, october 12, 2016 NEW TELEGRAPH

Customs generate N25.6bn at Tincan Port CHECK Measures have been taken to block revenue leakages at the port

Bayo Akomolafe

he Nigeria Customs Service (NCS), Tincan Island Command, generated N25.6 billion in the month of September 2016. The command’s Public Relations Officer, Uche Ejesieme, disclosed this in a statement. He explained that the various strategic plans aimed at enhancing the revenue collecting capacity at the Tincan Island Port had continued to show positive signals. He said that the measures taken by the command included strengthening, blocking all revenue leakages, capacity building on modern Customs operations and the commitment of officers and men in their statutory responsibilities. Ejesieme added that the Area Controller of the command, Bashar Yusuf, had stressed that the command was determined to make the port a hub, with the entrenchment of due process in all its operations. Yusuf explained that the place of the service in national development could not be overemphasised, pointing out that his command would not renege on its entrenched function of revenue collection irrespective of the present global economic challenge faced by all nations in the world. The controller was optimistic that the latest innovation of involving stakeholders in the training programme would restore sanity in the system and change the orientation of those who believe in circumventing the process. He called for stronger relations between the command and stakeholders for the actualisation of expected results. He said: “Beyond the fact that we have regular meetings with the critical stakeholders, I have always given the terminal and sectional heads a marching order to ensure that all importers and their agents are compelled to comply with the extant laws on international trade.” The controller commended compliant importers and agents for their patriotism, which he said had helped the NCS in achieving its revenue targets. Yusuf gave assurance that compliant stakeholders would continue to receive the support of the command. Meanwhile, NCS’s Federal Operations Unit (FOU), Zone A, Lagos intercepted some contraband valued at N131

•N131.7m contraband seized million in September. Its Public Relations Officer, Jerome Attah, noted that the duty paid value of the contraband was N101.5 million. Attah said that through the interventions of the unit, NCS had also recovered N30.1 million from vehicles and other goods that tried to beat the system through false declaration, undervaluation and shortchange in duty payment that were meant for the Federal Government. He noted: “In the month of September, 2016 alone, about

98 different seizures were recorded comprising vegetable oil, foreign parboiled rice, frozen poultry products, fairly used vehicles popularly known as tokunbo, and various general merchandise. Attah listed the contraband as including 2,513 of 50-kilogrammme of parboiled rice valued at N16.3 million, 3,778 cartons of frozen poultry products, 528 kegs of vegetable oil valued at N4.71million, seven units of assorted vehicles at N14.31million, new and used textiles material, shoes,

bags, used tyres , mosquito insecticide, soaps, compressors and bonita spaghetti valued at N 45.8 million. The Controller of the unit, Umar Mohammed Dahiru, said that FOU had what it takes in delivering one of the service statutory functions of suppression of smuggling within its areas of jurisdiction in the South West zone. He tasked all the FOU field operatives to intensify their border patrol in order to bring smugglers to book. He added that 14 suspects had been apprehended, say-

ing they would be charged to court for prosecution after thorough investigation. In another development, contrary to a report that the ban on rice at land borders has been lifted, the Nigeria Customs Service NCS) said that the importation of the grain will be banned totally in 2017. Its Public Relations Officer, Mr. Wale Adeniyi, a deputy comptroller, said the ban of the commodity at land borders had not been lifted. He noted that NCS had the commitment of partnering other government agencies and stakeholders to enforce the restriction.

Vessels moored to discharge cargo at Lagos Port Complex

Firm to partner Norwegian company

he Lagos Deep Offs h o re Logistics (LADOL) has commenced strategic partnership with multiple Norwegian companies towards business development in the country at the Lagos Free Trade Zone. This was disclosed in Lagos when a delegation of the Nigerian/Norwegian Chamber of Commerce (NNCC) visited LADOL base at Tincan Island in Lagos, according to a statement from LADOL. They also called on the National Assembly to revisit the need to pass the protracted Petroleum Industry Bill (PIB). The Executive Director of company, Mr. Jide Jadesimi, conducted the team round the $3.8 billion oil platform being built by the company. Jadesimi, who represented the LADOL’s Managing Director, Dr. Amy Jadesimi, said that the base was developed as a greenfield swamp by indigenous players about a decade ago. He noted over $104 mil-

lion had been invested before the company got its first contract. Jadesimi added that the base was well fortified with all necessary government agencies such as the Nigeria Customs Service, Nigeria Immigration Service, the Nigerian Navy, ports authority officials and a host of others who oversee due diligence in its operations. According to him, the base is unique in its mode of operations as it strives to save capital flight, minimise delivery time that usually inhibits such projects when handled abroad, as well as its drive to increase efficiency in the system. He noted that the company had been able to manage the success story of its operations considering its location, which guarantees industrial peace as against the worrisome security challenges at the Niger Delta region of the country. Jadesimi said: “I can assure you that the future

here is bright for Direct Foreign Investments (FDI), even though we have a few challenges, which border on bureaucracy and red tape, but these are issues that government is vigorously addressing.” Responding, head of the Norwegian team, Dr. Gulbrand Wangen, said that the chamber was representing over 200 Norwegian oil and gas companies that were desirous of partnering with Nigerian companies for business development. He explained that the companies under his group were focused on oil and gas business development in five major countries of the world in which Nigeria is one of them. The director said: “To do this successfully, we are working with the Nigerian/Norwegian Chamber of Commerce, which was established in May this year. “We are here because we have heard about LADOL and I must say we are impressed by what we have

seen. “We are confident that we could open a lot of companies here as what we have seen will enable us to properly advise those companies back home as to what is going on here.” He noted that the government needed to encourage the quick passage of the PIB in order to encourage investors who will be adequately guided by the terms of engaging in such businesses in the country. Also, Chairman of the NNCC, Chijioke Igwe, noted that the establishment of the chamber earlier in the year was informed partly by the need to attract foreign investors into the Nigerian oil and gas industry in order to secure the nation’s hub status in the sub region. He said, “There is the need to bring these two countries together in building the industry. Norway has built an impressive track record in the oil and gas sector and the two countries bear a lot of similarities.”

business \ maritime

WEDNESDAY, october 12, 2016 NEW TELEGRAPH

African shippers seek transport infrastructure LINK Trade connectivity is very important to Africa’s development

integration and that trade connectivity was very important to Africa’s development. Also, a Senior Director and Head of Natural Resources and Transportation at Africa Finance Corporation (AFC), Mr Ato Gyasi, advised member countries to consider taking advantage of his corporation’s financial

support for infrastructure development within the sub-region. The forum with a theme: “Transport Infrastructure Development and Maintenance: Funding Options and Trade Policies,” examined better access to transportation infrastructure and networks to improve connectivity. The Director, Mass Transit and

Road Transport, Federal Ministry of Transport, Dr Anthonia Ekpa, told the participants that Nigeria had taken some steps to overhaul its transport infrastructure, beginning with the ports. The forum sensitised authorities and policy makers on other options for financing public and private projects.

Bayo Akomolafe

takeholders at the Union of Africa Shippers Council (UASC) forum have stressed the need for the right transport and trade policies by various governments in the in Africa. At a two-day forum held in Abuja, they said that a good transport system and other trade policies would go a long way in promoting efficiency, competitiveness and cost reduction as far as delivery of goods and services in the West and Central African subRegion is concerned. The Executive Secretary and Chief Executive Officer of Nigerian Shippers’ Council (NSC), Barr. Hassan Bello, in his welcome address, highlighted the critical role of trade and transportation in every nation’s economy. He explained that transport drives

FG moves to ratify Rotterdam Rules

he Federal Government has stressed the need to ratify Rotterdam Rules in order to improve foreign trade between Nigeria and other countries. The Rotterdam Rules is a new seamless carriage regime governing international carriage of goods by sea. According to the Minister of Transportation, Mr. Rotimi Amaechi, in a statement, the rules were developed by the United Nations. The minister, who was represented by the Permanent Secretary of the ministry, Alhaji Sabiu Zakari, disclosed in his key note address during the validation colloquium of the Rotterdam Rules held in Abuja. He said that the ratification of the rules, which had been passed by the United Nations, would provide Nigeria with a renewed hope of operating a more unified, more balanced and modern carriage regime when engaged in international trade. Amaechi said: “The Rotterdam Rules is a more comprehensive, more perfect, more balanced, more modern and more enduring carriage of goods regime. “The drafters therefore took the pain to cover as much issues as possible, which were left unregulated under the previous conventions, without losing sight of the need for acceptable compromises. “The government wants to have a seamless trade rules and regulation, because what we have currently is a different and conf licting set of rules when trading with various countries. “So, the ratification of the rules will demonstrate Federal Government’s resolve at improving and ensuring that everything works smoothly when we engage in foreign trade. “It will also take care of our inland shippers and inland infrastructure like the dry ports, which is also covered by the Rotterdam Rules.”

Oil tanker intercepted recently by pirates on Nigerian waters

igerian Maritime Administration and Safety Agency (NIMASA) has denied owing its landlord at the Atlantic House along Wharf Road in Apapa over two years rents. In a statement, the agency’s Head of Corporate Communications, hajia Lami Tumaka, said that NIMASA is not owing and not on the verge of being evicted from its Lagos office by the owners of the property. A report being circulated within the agency said that the apex maritime regulator’s operational office overseeing the Lagos Port Complex in Apapa was allegedly owing its landlord about N30 million. The agency is occupying the third and fourth floors of the property for its documents archive and offices.

NIMASA denies ejection report from rented property The amount, it was learnt, covers an outstanding rents and service for 2015 and 2016. However, Tumaka explained that the agency had five offices in Lagos and none of them was under any threat of eviction. She said, “NIMASA’s head office on 4, Burma Road Apapa is wholly owned by the agency including the Nigerian Maritime Resource Coordination Centre otherwise known as NIMASA Resource Centre at the Kirirkiri axis of Apapa, as well as the agency’s Western Zonal office located on 88, Marine Road, Apapa. “The agency has also met its full rental obligation to the owners of

the Atlantic House on Wharf Road Apapa that houses its Apapa Port Office, while its Tin Can Island Port Office complex owned by our sister agency, the Nigerian Ports Authority (NPA) has no outstanding liabilities whatsoever. “To therefore allude that one of the agency’s operational areas in Lagos is on the verge of eviction owing to outstanding rent running into tens of millions of naira is not only false but also a calculated attempt at embarrassing the management of the agency.” Sources within the agency had alleged that the landlord had threatened to eject the staff of NIMASA from the rented property.

Vessels expected at Lagos Port this week Vessel Bridge Gate Kota Siria CCTorquois Ludwig Schutle Solstice N Gotland Aliya MSK CapeCoast Unifortuna Safmarine C Ece NB Tar Henry Rickmers Autumn E Desert Osprey Astra

Commodity Sugar Containers Containers Container s Containers PMS Containers Containers Containers Coal Containers Containers Whea Coal

Tonnage 46500 tons 265 units 276 units 102 units 400 units 38,701tons 500 units 442 units 331 units 46,630 tons 400 units 4000 units 48,000 tons 45,151 tons

Day Monday Monday Monday Monday Monday Monday Tuesday uesday Wednesday Wednesday Thursday Friday Friday Saturday

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Literature

Arts

Reminiscences of a journalist, master craftsman

Tony Okuyeme

midst growing concern about the dwindling fortunes of live theatre in the country especially given the situation of the economy, the President of president of National Association of Nigerian Theatre Arts Practitioners (NANTAP), Babatunde Obalana FTA, recently iterated the call for a practitioners council, saying that such a council would take care of the interest of the practitioners and an association like NANTAP. He added that efforts by the association to pitch to financial institutions, Bank of Industry and Heritage Bank etc. to think about investing in our 250 multipurpose hall project, is guaranteed to employ over 6,000 practitioners of varying degrees and skills. Obalana stated this in his paper presented by at the sensitisation workshop on Mainstreaming Culture and Creative Industries’ Interests into the Trade Policy of Nigeria, held at the Lagos Resource Centre, Victoria Island, Lagos. According to him, the dissemination seminar is holding for the first time in Lagos after a two-year stint in Abuja, in view of the important position that Lagos occupies in Nigeria, not just as a former Federal Capital Territory (FCT) or the commercial nerve centre of the country, but also because of its entertainment and creative impact within and outside the country. “We therefore need ‘Babalawo’ or ‘Ifa priest to tell us that if this was not held here, then our job is incomplete. Over the last two years, we have while working on this project, had the privilege of discussing with heads of government parastatals as well as holding wide consultations within the Art communities in Abuja. “One of the reasons for bringing it to Lagos, is to have a deeper interface with you all, to further enrich the final recommendations. We will therefore be grateful for your contributions. “Now where are we going in this project? We intend to establish activation hubs, where the practitioners can hone their talents and package their works for export. This is critically impor-

Why we need Practitioners Performance Council, by NANTAP president tant because the stage consumes so much energy and it is not easily re-enactable, unless it is well documented,” he said. He added that this new initiative is one of the prime focus of the Association in the coming years. “As we have been taught in the drama school from Lagos to Los Angeles and Pretoria to Sri Lanka, there are the ups and downs for every trip. Our vision is to re-position the fortunes of the practitioners to be able to make money even in the low season, therefore giving a richer life to him and his family. “Before I conclude my keynote address, let me seek your indulgence to talk on one or two issues presently resonating within the industry. “The issue of Councils, while we give full salute to the vision of the Honourable Minister of for setting up the Council to regulate the Arts, after gathering dust for over 25 years on the shelf, (which has made our profession to be seen as an all comers sport, we are nonetheless constrained to make the case for an alternate Council that would take care of the interest of an association like ours. This becomes primordial when you consider the fact that the art is very wide. “The country itself will be short changing herself and her citizens by not exploring to the maximum, the potentials embedded in her. It is for this reason that we feel that we should have a Practitioners

Obalana

We feel that we should have a Practitioners Performance Council distinct from the Motion Picture Council

Performance Council distinct from the Motion Picture Council. For the avoidance of doubt, we are not in any way against the Council presently being implemented since we were a part of it. But we do feel we would not be able to fully protect and advance our cause owing to the focus of the Council. This is obtainable in other parts of the world where we have the equality and the practitioners council. We feel that this will augur well for all the practitioners and our country.” Continuing, he said: “We are making a pitch to financial institutions, Bank of Industry and Heritage Bank etc. to think

about investing in our 250 multipurpose hall project. This is guaranteed to employ over 6,000 practitioners of varying degrees and skills. The structures will be fitted with functional facilities to do basic editing, production, staging, costuming etc. This, for us, represents a turning point if it can be realized. It will create creative hubs across the country. Collaboration between the Ministry and NANTAP: Lastly, we will like to enjoin the Ministry to work closely with us in realizing some of these laudable dreams and goals which will no doubt benefit thousands of practitioners and millions of our countrymen.”

From Ogiamien, sculptural wonders at Quintessence

C TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

elebrated sculpture, Roland Udinyiwe Ogiamien returns to the exhibition stage with a solo show that is sure to serenade the visual arts community, including art aficionados. The exhibition which holds on Saturday October 22, 2016, will offer the art community the rare opportunity to access and explore his sculptural wonders from the last two decades. Ogiamien was born into a family of educationists. His father was a teacher

and so were his siblings. Teaching being a highly honorable job in those days was accorded a lot of respect, a reason Roland’s father and many people at that time, saw sculpting as degrading. He told Roland that he was engaged in a job that was the preserve of the disabled. Being ridiculed by family members could not deter him from his great passion for sculpting. He builds his skills from learning under different great

masters to become an African prodigy in wood sculpting. With his first exhibition in 1973 at the University of Lagos recording an instant success, he won the admiration of the Nigerian government, the Italian, German and French Cultural Centres. He was hosted four times by the Italian Cultural Institute in 1975, 1976, 1982, and 1986; the French Cultural Centre in 1983 and the German in 1984.

ART

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

NEWS Banquet of performances as annual Season of Soyinka holds in Lagos

t would be a harvest of theatrical productions as the 9th Annual Season of Soyinka takes centre stage from tomorrow Thursday. For the first time, the annual ‘Season of Wole Soyinka’ conceived in 2007 by Wole Oguntokun will feature plays and sketches over three months instead of the customary one-month outing. The sketches which will be performed by Renegade Theatre, and directed by Rotimi Fakunle include Childe Internationale, Population Control by and Press Conference. Childe Internationale’ is a 1987 play by Wole Soyinka which dwells on the clash between Western and African cultures. It tells the story of a father (Politician) whose daughter, Titi, returns home on vacation as a completely changed person, lacking in discipline. Renegade Theatre initiated the Theatre@Terra, a project for the promotion of Theatre and Culture in July of 2007, in collaboration with the Arts Centre known as Terra Kulture. It consistently produced highly-acclaimed theatre works weekly at the Centre without interruption for three and a half years, a feat not achieved in Nigeria since the days of JP Clark’s Repertory Theatre in the early 1980s. Over the years, Renegade Theatre has also produced sixty-five productions at the highly prestigious arts venue, the Muson Centre in Lagos under the direction of Wole Oguntokun. The company created the annual “Season of Wole Soyinka Plays” now in its 9th annual showing.

Omi is Best New Director at Fashion Film Festival Milano

he film ‘Omi’ which is part of a series of collaborations between A Whitespace Creative Agency (AWCA) and the fashion brand Maki Oh, recently won Best New Director at Fashion Film Festival Milano. The films were directed by Papa Omotayo (founder of AWCA) and Maki Osakwe (the creative director of Maki Oh). The 3rd annual Fashion Film Festival Milano Award Ceremony took place recently at the Triennale di Milano, with a Private Cocktail Dinner Party. Guests were invited to spend the night at the Antica Locanda Solferino, in the middle of Milan’s historical centre. In an official statement to A Whitespace Creative Agency’s (AWCA) founder, Papa Omotayo, Fashion Film Festival Milano and director Constanza Cavalli Etro said they were honoured to announce that the international jury, composed by Franca Sozzani, Olivier Zaham, Andrea Lissoni, Claudia Llosa, Michelangelo di Battista, Miroslava Duma, Emanuela Martini and Enrico Dorizza, declared the fashion film “Omi” as the Winner of the “Best New Director” category. Head of Projects, Malaika Toyo, in a statement stated that the Best Director Award is a triumph for Nigeria, Africa, the creative agency (AWCA) and the label Maki Oh, who both continue to push and define new boundaries for how creatives are telling new stories about Nigeria and Africa to a global audience. The film was first shown as part of Vogue’s Video Fashion Week Fall 2015. The award was received on behalf of AWCA by Alfie Nze, the Nigerian filmmaker based in Milan whose work will be shown at Lagos Photo 2016.

NICO Troupe performing at the event.

Abuja Trade Fair: Feast of dance, drama at PENCOM Day I t was a feast of inspiring performances by NICO Troupe, the performance outfit of National Institute for Cultural Orientation (NICO), penultimate Thursday, as they dazzled guests at the National Pension Commission (PENCOM) Day, at the just concluded 11th Abuja Inter national Trade Fair, held at the J.T. Useni Inter national Trade Fair Complex, Lugbe, Abuja. Starting with a short drama presentation, entitled, Micro Pension Magic, the Troupe captured the concept and benefits of PENCOMMicro Pension Scheme, which is targeted at the informal sector of the economy, telling the

story of a trader who succeeded in rebuilding his burnt market stall in just two weeks, which, unknown to many, was suspicious and unbelievable. However, at the end of the day, they realized that the Trader was falsely accused, and that he actually rebuilt his shop in less than two weeks from his savings from the Micro Pension Scheme, which he had patronized for some years, informing that one can withdraw from ones saving whenever the need arises. NICO Troupe also presented two dances, which projected the Troupe as one of the best that can keep audiences entertained at occasions like that; just

as their performance earned the Executive Secretary of National Institute for Cultural Orientation (NICO), Assoc. Prof. Barclays Foubiri Ayakoroma, a resounding applause, affirming his enviable leadership role he has been playing in Nigerias arts and culture sector. In her address, the Director-General of PENCOM, Mrs. Chinelo Anohu-Amazu, the Commissions Secretary and Legal Adviser, Alhaji Mohammed Sanni, said PENCOM has come up with a strategic plan for private and public individuals to be able to have a flexible pension plan, which is different from the old one that favours only government workers.

According to the PENCOM boss, with the new Pension Act, anybody that works in the Federal Republic of Nigeria, even in SMEs, lawyers, traders, hairdressers, fashion designers, barbers, drivers, and so on, can start saving with the Micro Pension Scheme, so that when the person can no longer work, he or she will have something to lean or fall back on at old age. The National Pension Commission (PENCOM) Day event at the ongoing 11th Abuja International Trade Fair was specifically organized to create awareness on its proposed Micro Pension Scheme, which will benefit the private sector: the selfemployed.

Butler, Casa, A’rese for A Night At The Kazbah

ome of Africa’s biggest star converge in Nigeria’s entertainment capital, Lagos will headline the second edition of Smooth FM’s A Night At The Kazbah. This year’s line-up include South African singer-songwriter and guitarist, Jonathan Butler, Soulful House Trio, Mi Casa and Nigeria’s very own, A’rese and will hold on the 22nd of October 2016 at The Federal Palace Hotel, Victoria Island, Lagos. The stars have all confirmed their appearances with unique social media announcements which started with The Voice Nigeria winner, A’rese followed by the soulful house trio, Mi Casa who took time out of their busy Africa Tour to let their Lagos fans know they will be in town - sending social media space into frenzy. Best known for their smash hit and radio favourite, Jika, the

performers alongside The Voice Nigeria winner, A’rese and headliner, South African singer-songwriter and guitarist, Jonathan Butler will trill Lagosians with their electrifying truly authentic African sound. The premier one night-only concert is brought to you by Smooth 98.1FM the curators of contemporary African and Nigerian music. ‘A Night at the Kazbah’ is more than just music, it is a cultural exploration designed to bring good Nigerian, African and World music to the forefront of our consciousness and promote indigenous artistry. Last year, ‘A Night At The Kazbah’ was a huge success as it raised the bar and reshaped live music on the Lagos scene with a pioneering blend of AfroSoul and AfroJazz which featured Ruby Gyang, Bez, Kunle Ayo & Brymo.

Butler

LITERATURE

Reminiscences of a journalist, master craftsman

ne Day and A Story: Reminiscences of an African Journalist is partly autobiographical, partly historical and partly the memoirs of the remarkable career of one Nigeria’s star journalists. As a professional colleague of Dare Babarinsa, I also have a heap of newspaper stories, features and commentaries that I did not know what to do with them until now. Should I publish them as a collection of my writings? Knowing how uninterested we sometimes are in the past, I could not tell whether readers would be interested in such a book? Seeing the superb job that Dare Babarinsa has done in One Day and a Story, now I know what to do: rework those writings into the larger narratives of life, tell readers the real stories behind the published ones by putting them in the right historical, social and political contexts. This is what Babarinsa has done so well with the 29 stories and an epilogue in this 276-page book with 30 pages of family and work-place photographs as well as 18 pages of index. Woven together seamlessly like a well-made cloth, it is difficult to know where the old parts end and where the new ones begin. Each story is fresh, deep and riveting. It is the handiwork of a master craftsman, a “pro” - as we say in street parlance - and a truly gifted writer. Babarinsa’s prose is deliciously simple, accessible and beautiful. Readers will find it difficult to put down this book once they start reading it. One Day and a Story, which he started writing in 1997 and concluded in 2005, covers the author’s years at Newswatch from 1985 to 1990 and the formation of TELL by Babarinsa and other rebels from Newswatch. He says in the acknowledgement that he did not just set out to tell a story but to pay a tribute to his great colleagues at Newswatch....”where we were forged in the fiery furnace of exhilarating professionalism.” He describes those great colleagues as “journalism generals who won their epaulettes on the battlefield” - Dele Giwa, Ray Ekpu, Yakubu Mohammed, Dan Agbese, Dayo Onibile, and Soji Akinrinade. He is generous in his praise and merciful in his criticism. Even where he has cause to point out human foibles, he does so with sympathy. Babarinsa is truly well brought up, what the Yoruba people call an Omoluabi. His pen has the fear of God. He treats disagreements with colleagues and bosses without malice. He is humble enough to admit his faults and misjudgments. Dele Giwa called him “the in-house biographer” at Newswatch magazine, one who “writes with such feeling that men and women, dead or alive, ancient and contemporary, stand before our readers in flesh and blood, with their strengths, weaknesses, warts and all. Few writers are able to do this. We salute you.” This was part of the citation Giwa wrote on him after winning “The Publisher’s

Title: One Day And A Story: Reminiscences Of An African Journalist Author: Dare Babarinsa Publishers: Gaskia Media Limited, Lagos, Nigeria Year of Publication: 2015 Number of Pages: 276 Reviewer: Adinoyi Ojo Onukaba

Award” in June 1986 for reporting and writing the well-received cover story on the Emmanuel Abisoye panel of inquiry into the crisis at Ahmadu Bello University, Zaria, which the then Vice Chancellor, Professor Ango Abdullahi had turned into a bastion of Islamic conservatism, repression, expulsions and killings. The story of Newswatch magazine dominates this book. Babarinsa joined the company in November 1984 full of hope and excitement that he made its formidable editorial team. The author calls the news magazine “the best in the industry” and “the newsmagazine Nigerians have been waiting for”. He was proud to be identified with such a respected publication where “highly talented and motivated journalists” could find “intellectual and professional fulfillment”. But Editor-in-Chief Dele Giwa’s brutal killing on October 19, 1986 through a parcel bomb explosion transformed this dream into a nightmare. The magazine was barely 20 months old then. The struggles for survival within a perilous and repressive media space soon began to takes its toll on the magazine. The killing of Giwa had dealt a big blow to the magazine and many of the

Book stand

staff were not happy that Giwa’s colleagues were cozying up to the dictator. According to Babarinsa, the magazine was no longer what it used to be. By 1990, some of the pioneering members of Newswatch had left, including Dele Olojede who joined New York Newsday newspaper and went on to win the Pulitzer Prize in journalism. The author says “tension and dissension” were already building up in the ranks of Newswatch staff by early 1986 due to its “management style” and unresolved matters of staff welfare. Though a great place to work, Babarinsa and the other rebels - Nosa Igiebor, Dele Omotunde, Onome OsifoWhiskey, Kolawole Ilori and Ayodele Akinkuotu felt it was time to move on. Newswatch’s founding editors made a last ditch effort to persuade Babarinsa to stay but it was too late. Some of Babarinsa’s colleagues were particularly peeved that the editors of Newswatch had chosen Babangida as “Man of the Year” in 1990 despite his atrocities against journalists, his glaring violations of press freedom and the all too apparent self-perpetuation scheme. Babarinsa and his team began to search for collaborators. One Day and a Story also profiles leaders who inspired us. In “A lion in winter”, Babarinsa writes movingly about his encounter with the veteran labour leader Michael Imoudu in a modest three-bedroom flat in Surulere, Lagos in 1988. He calls Imoudu’s life “a metaphor of the Nigerian state: those who contribute the least earn the most and those who contribute the most earn the least. That is why Nigeria, a creation of British imperialism, is a political oxymoron”. Equally inspiring is the story of Babangida’s Health Minister for eight years, Professor Olikoye Ransome-Kuti who mobilized federal resources to the hinterland of Benue State to contain the Yellow fever epidemic of 1986. He personally went there, saw things for himself and did the needful to save lives. He was focused, determined and hard working. Following complaints that the Minister was often absent from airport ceremonies for visiting dignitaries, Olikoye was said to have asked “if shaking hands with foreign dignitaries was part of the schedule of duties of the Health Minister”. Thereafter, they left him alone.

What we are reading

POETRIP THE VILLAGE VOICE Oladipo Kehinde

The Heretic is a British black comedy play by Richard Bean about climate change and its sceptics. In 2011 it premiered at the Royal Court Theatre receiving positive reviews directed by Jeremy Herrin starring Juliet Stevenson, James Fleet. It demonstrates how dramatists can engage the drab subject of climate change without compromising the basic principles of dramaturgy.

In the Country: Stories by Mia Alvar is about Filipino diaspora; it is about Filipinos all over the world. Why the book is so brilliant, I think, is because it captures diaspora mentality of people who are pushed outside their country. You can never overemphasise the importance of reading books. It opens your world; you travel through place, through time by reading. I think the best way to under-

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Greg Mbajiorgu

Helon Habila

The farm and the market The market and the farm It is time for the farmer to go farm To farm the earth with words This time tomorrow the earth will smile The earth will smile with the fruit of time The earth will smile with bumper harvest The village and the stream The stream and the village Every stream has a name The stream flow with the rhythms of time The village voice in the market place for the birds on the tree of metaphor Echoes resonate the seed sound of the clouds Seed sound for the chambers of the ears strings of seed sound of a melodious singer

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

BUSINESS | MONEY LINE

‘IMF loan won’t determine success of Nigeria’s Eurobond’ ADVICE Foreign investors eye yield in emerging markets

Tony Chukwunyem

he Federal Government does not need a loan from the International Monetary Fund (IMF) to successfully sell its forthcoming Eurobond issue, analysts at FBN Quest have said. In a note obtained by New Telegraph, the experts said that while an IMF loan would make it easier for the Federal Government to sell the Eurobond, the scramble for yield in emerging and frontier markets by foreign investors made it likely that the Eurobond issuance would be successful whether Nigeria takes a loan from the Fund or not. They pointed out that Ghana successfully sold its Eurobond despite having twin deficit and struggling with an IMF programme. The Managing Director of the IMF, Christine Lagarde, announced at the annual meetings of the Fund and World Bank in Washington last Thursday that the IMF board had approved the extension from 2016 to 2018, of concessional loans at zero interest rates to Nigeria and other countries facing economic crisis. Commenting on the development, the FBN Quest analysts said: “In Nigeria’s predicament, such support on a large scale might be tempting. For example, it could borrow 145per cent of its quota of Special Drawing Right (SDR) 2.45billion ($3.40billion) annually under a stand-by arrangement, or 435 per cent

cumulatively. “The FGN has signed IMF credit agreements in the past, the latest being a stand-by in August 2000, but never drawn upon them. If it were to accept the latest offer and draw down funds, it would see an improvement in its relations with other official creditors. Negotiations with the World Bank and the African Development Bank (AfDB) over financing of the 2016 budget deficit would run more smoothly,” they added. They noted: “The FGN would also find it easier to sell its forthcoming Eurobond is-

sue, and enjoy some marginal pricing advantages. That said, it can sell the issue without an IMF loan, given the global investor chase after yield in emerging and frontier markets. Ghana has an embedded twin deficit and an IMF programme that is in difficulties if not off-course, and still got its issue away.” However, they pointed out that conditionality attached to an IMF loan is seen in these parts as more onerous than that in a credit from other multilateral agencies. According to the analysts: “Exchange-rate policy and retail

Abdulwahab Isa ABUJA

he European Union (EU) has pledged the sum of 7.7 million Euro to support Economic Community of West African States (ECOWAS) quest of entrenching transfer pricing program and enhanced tax administration. Representative of EU Head of delegation in Nigeria, Juan Casla announced the support yesterday in Abuja at a forum on transfer pricing meeting for ECOWAS members state. The forum was organised by Federal Inland Revenue Service (FIRS), the World Bank and ECOWAS under the European funded improved business and investment climate in West Africa project. The forum seeks to address a range of investment policy issues that constitute barriers for the private sector to invest efficiency across the region. Speaking at the forum, Casla said EU was concerned about tax efficiency administration in ECOWAs states and urged the region to ensure efficient tax admin-

istration. “An improved tax governance and transparency are paramount concern to EU. We signed two conventions in order to double the support of revenue across the country. That is to support tax efficiency and avoid illicit financial flow by collecting more and spend better. How do we implement this support? Leading by example, by implementing the concept at home in EU countries to combat fraudulent tax; to tackle corporate tax avoidance. We have been supporting the UN in this area. We are planning to further support this support to ECOWAS to the tune of 7.7 million Euro “ Earlier in his remarks, Executive Chairman of Federal Inland Revenue Service (FIRS) Tunde Folwer, said with dwindling fortunes in price of oil commodity, tax administration remains the way to go for ECOWAS states. “Taxation is the only way to go

Mar, 2015 Mar, 2015

17.61

August, 2016

14 10.77

26/09/2016 Mar 2015

Ext Res**

US$51.23

11/10/2016

US$24,334,631,329

10/10/2016 Source:CBN

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 12.50 22-JAN-2026 10.00 23-JUL-2030 12.1493 18-JUL-2034 Tenor (Days) Call 30 90 180

FGN Bonds

TTM

1.06 3.23 3.86 5.81 7.94 9.80 14.30 18.29

Price 104.54 114.58 111.91 120.62 109.79 100.32 83.54 97.16

NIBOR

Rate (%) 4.2500 8.2420 10.1127 11.7162

Treasury Bills

Bid Yield 10.45 10.54 11.61 11.43 12.23 12.43 12.49 12.54

Change (%) -0.21 ▼ -0.87 ▼ -0.90 ▼ -0.66 ▼

Change (%) 0.07 ▲ -0.01 ▼ 0.01 ▲ -0.01 ▼ -0.04 ▼ 0.04 ▲ 0.05 ▲ 0.06 ▲

Price 104.69 114.88 112.21 120.92 110.09 100.62 83.84 97.46

Tenor (Months) 1 2 3 6 9 12

Offer Yield 10.30 10.44 11.52 11.36 12.18 12.38 12.44 12.50

NITTY

Rate (%) 5.1731 6.4137 7.3300 8.8857 9.6247 10.5416

Change (%) 0.07 ▲ -0.01 ▼ 0.01 ▲ -0.01 ▼ -0.04 ▼ 0.04 ▲ 0.05 ▲ 0.06 ▲ Change (%) -1.82 ▼ -0.82 ▼ -0.75 ▼ -0.32 ▼ 0.04 ▲ 0.04 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 30-Jun-16 7.59 7.34 7.47 -0.35 ▼ Open-Buy-Back (OBB) 3.75 7.73 -0.35 ▼ 6-Oct-16 8.37 8.12 8.47 -0.24 ▼ Overnight (O/N) 4.25 8.74 -0.24 ▼ 16-Mar-17 9.40 10.32 0.04 ▲ 9.15 10.02 0.04 ▲

with the crash in oil price. It’s clear that in Africa we cannot rely on oil to fund our budget. Taxation is important world over. Every nation has to rely on taxation to fund its budget. The issue of Trans pricing is very key, a situation where some organisations continue to benefit and do not want to pay taxes is unacceptable. I think the job of tax administration is extremely very essential. The only forward is to get the private sector running. The private sector provides employment, economics of scale. If private sector is doing well, the economy will do well. We have no choice but to keep pushing for effective taxation”, said Fowler. The transfer pricing component of the project is a World Bank initiative to support domestic resource mobilisation by helping countries to protect their corporate tax base from profit shifting. The forum provides a platform for ECOWAs countries to take stock of the current state of transfer pricing in the region and to determine the direction.

Adeosun tasks ICAN on promotion of transparency, accountability

As at N19,142,526.05m N18,579,219.49m

Bonny Light

The analysts pointed out that while previous regimes in the 1980s and 1990s resisted IMF’s structural adjustment programme on ideological grounds, the reason for the opposition of the loan these days: “has become more an issue of purported sovereignty.” Nigeria plans to raise $1 billion on the Eurobond market this year in a move designed to plug a budget deficit. The issuance, which will be the first since 2013, will take place in December with the proceeds expected to be channelled into capital projects.

EU pledges 7.7m Euro to boost ECOWAS’ tax mgt

Economic Indicators M2* CPS* INF MPR 91-day NTB

pricing of fuel are two contentious areas. The FGN has this year devalued and raised the ceiling for petrol (gasoline) prices. It acted in both cases not out of conviction but because there was no longer an alternative. “It happens that the Fund advocated both measures, albeit not from the rooftops. From our perspective, sovereignty is three parts illusion. However, the FGN does not want to test the waters with the electorate and does not share the Fund’s “free market” solution to the exchange-rate impasse,” they stated.

Change (%) -0.08 ▼ -0.08 ▼

he Minister of Finance, Mrs. Kemi Adeosun, has challenged members of the accounting profession to join forces with the current administration in its bid to promote accountability and transparency in governance. The Minister gave the charge on the day two of the 46th Annual Accountants Conference organized by the Institute of Chartered Accountants of Nigeria (ICAN) in Abuja on Tuesday. The theme of the conference is ‘Accountability. Now, Nigeria’, and it was attended by dignitaries including the Vice President Mr Yemi Osinbajo, the Gombe State Governor, Alhaji Ibrahim Hassan Dankwambo, the Ogun State Governor Senator Ibikunle Amosun and former Governor of Anambra State, Mr. Peter Obi, among others. The Minister explained that the accounting body now has greater roles to play in the current dispensation, saying that the era when accountants just offered suggestions was over. The Minister stated: “When things go wrong in the private sector, it affects just one company, but when things go wrong in the public sector, it affects the whole nation and

that is why we must raise the bar for public financial management. “The days when ICAN stayed in the background are gone. That is why I’m challenging ICAN to move from the background to the forefront. We need more accountants at all tiers of government and I think they have a very big role to play.” She disclosed that the finance ministry under her watch has begun capacity building for the nation’s accountants by ensuring that larger firms partner with smaller and medium scale firms for any assignment. “We need to build capacity within the smaller and medium-sized practices. In the Ministry of Finance, we have resolved that a large firm must partner with smaller firms for any assignment and the practice has started.” She stated that one of the measures put in place by the current administration was to ensure that the nation’s public finance management was better enhanced. According to her, a lot of lessons have been learnt from past mistakes; hence the implementation of a set of robust public finances management policies.

BUSINESS |FINANCIAL MARKET NEWS

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

11-Oct-16

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute 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 Issuer

Rating/Agency

Description 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 14.50 15-JUL-2021 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 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 ^12.40 18-MAR-2036

Price

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 13-Jul-16 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

15.10 9.85 9.35 10.70 16.00 7.00 15.54 14.50 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.15 12.4000

480.13 20.00 100.00 300.00 351.30 233.90 606.43 210.59 605.31 719.99 421.02 75.00 150.00 200.00 591.57 1075.92 310.00

TOTAL OUTSTANDING VALUE

6,451.16

TOTAL MARKET CAPITALISATION

5,794.39

Rating/Agency

Agency Bonds Nil

TOTAL OUTSTANDING VALUE

Description

Issuer

17.25 FMB II 03-APR-2017

FMBN

Maturity Date

TTM (Yrs)

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 15-Jul-21 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.54 0.79 0.89 1.63 2.71 3.03 3.34 4.76 5.29 7.42 9.28 12.13 12.61 13.11 13.78 17.77 19.43

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

18.15 19.77 20.38 18.69 14.61 14.86 15.11 14.99 14.94 15.13 15.44 15.34 15.32 15.30 15.28 15.15 15.48

17.85 19.55 20.18 18.57 14.55 14.71 14.99 14.90 14.86 15.06 15.37 15.28 15.26 15.23 15.21 15.09 15.42

98.46 92.97 91.40 89.11 102.95 81.35 101.03 98.31 105.10 95.90 85.71 98.11 84.35 61.94 69.93 81.64 81.18

98.61 93.12 91.55 89.26 103.10 81.65 101.33 98.61 105.40 96.20 86.01 98.41 84.65 62.24 70.23 81.94 81.48

6406.155565

Issue Date

Coupon (%)

03-Apr-12

17.25

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

0.60

03-Apr-17

0.30

2.94

19.84

99.21

19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.52 0.48 1.22 1.26 1.27 1.23 1.24 1.42 1.83 3.11 1.80 4.13 4.22 2.45 2.48 3.03 3.24 3.27 3.38 6.46 3.36

1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

19.01 23.47 22.65 21.11 21.07 24.05 23.77 23.34 19.97 16.91 19.09 16.34 18.79 18.13 16.51 16.38 18.97 15.98 17.56 16.75 18.06

95.71 95.79 91.11 92.61 92.60 90.61 90.34 91.18 93.60 94.29 93.76 91.65 89.19 93.31 97.08 98.01 94.42 101.17 99.85 100.85 97.48

0.60

TOTAL MARKET CAPITALISATION

0.60

Sub-National Bonds A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

57.00 11.33 25.00 19.37 3.49 9.45 7.01 18.70 11.14 80.00 19.40 87.50 5.00 3.74 3.76 14.37 4.17 4.30 27.10 3.00 7.34

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

422.14 396.72

Corporate Bonds A-/Agusto; A-/GCR Nil Nil Nil A/GCR BBB-/GCR Nil A-/DataPro†; CCC/GCR AAA/DataPro†; B/GCR A+/Agusto; A/GCR Bbb+/Agusto†; BBB+/GCR† BBB-/DataPro†; BB/GCR Nil A-/GCR A+/Agusto; A-/GCR Bbb/Agusto; A-/GCR BBB/GCR A/GCR BBB/GCR Bbb/Agusto; A-/GCR A/GCR A/GCR AAA/GCR

TOTAL OUTSTANDING VALUE

14.25 FSDH 25-OCT-2016 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 13.00 UBA 30-SEP-2017

FSDH ***LCRM UBA *C & I LEASING #{r} *DANA #

*TOWER

*TOWER UBA

*LA CASERA *CHELLARAMS# #{r}

*DANA FCMB NAHCO *TRANSCORP HOTELS PLC *FCMB UBA FIDELITY *TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.75 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 30-Nov-12

14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00 18.00

5.53 112.22 116.70 66.49 20.00 0.36

25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17 30-Nov-17

0.04 0.16 0.52 0.73 0.97 0.65

1.34 1.00 3.55 5.25 1.88 1.88

16.29 16.90 21.56 24.64 22.79 20.71

99.88 99.72 97.60 94.68 91.87 99.18

09-Apr-11 09-Sep-11

16.00 18.00

2.70 1.45

09-Apr-18 09-Sep-18

0.99 1.16

3.15 6.35

24.21 26.85

93.24 91.85

09-Sep-11

16.00

0.40

09-Sep-18

1.16

1.00

21.50

94.71

30-Sep-11 18-Oct-13

14.00 15.75

35.00 1.50

30-Sep-18 18-Oct-18

1.97 1.02

1.17 4.42

18.60 25.45

92.67 92.13

17-Feb-12 01-Apr-14 06-Nov-15 14-Nov-13

18.00 16.00 15.00 15.75

0.23 3.75 23.19 2.05

17-Feb-19 01-Apr-19 06-Nov-20 14-Nov-20

1.35 1.47 4.07 4.09

6.11 3.28 4.47 1.00

25.87 22.59 19.52 16.05

91.64 92.33 87.66 99.09

04-Dec-15 20-Nov-14

15.50 14.25

9.76 26.00

04-Dec-20 20-Nov-21

2.59 5.11

3.55 2.51

18.86 17.48

93.51 89.33

30-Dec-14 13-May-15

16.45 16.48

30.50 30.00

30-Dec-21 13-May-22

5.22 5.58

1.00 1.00

15.97 15.97

101.60 101.80

26-Oct-15 30-Sep-14

16.00 16.29

10.00 0.10

26-Oct-22 30-Sep-24

3.76 7.97

2.77 1.00

17.84 16.22

95.31 100.29

30-Sep-14

13.25

15.44

30-Sep-24

7.97

1.00

16.22

86.96

29-Jul-15

14.90

7.82

29-Jul-30

9.19

1.00

16.40

93.36

10-Oct-20

2.31

3.37

19.50

91.70

521.19

TOTAL MARKET CAPITALISATION

501.33

Sukuk *OSUN

14.75 OSUN II 10-OCT-2020

10-Oct-13

AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.34

1.00

17.98

91.07

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

2.56

1.00

14.16

94.03

Bid Price

Offer Price

BBB-/Agusto

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

14.75

8.63

8.63 7.92

Supranational Bond

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 23.11 Issuer

Description

Issue Date

Coupon (%)

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

6.74

6.49

100.02

100.93

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.86

4.42

100.42

101.16

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.84

6.70

97.49

98.26

FGN Eurobonds

Prices & Yields

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

FGN

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,489.64

Corporate Eurobonds B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

5.26

101.50

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

23.45

21.33

79.21

81.51

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.47

99.10

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

6.69

99.00

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

21.65

75.25

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

12.87 11.95 13.94

12.61 11.63 13.94

86.00 90.16 79.25

86.71 91.20 79.25

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,150.00 2,822.21 Description

Issuer

Issue Date

Yield @ Issue (%)

Outstanding Value (₦’bn)

Maturity Date

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

18-Apr-16

11.00

16.80

18-Oct-16

2.03

16.83

16.77

Commercial Papers A-/Agusto

TOTAL OUTSTANDING VALUE

UACN PROPERTY DEVELOPMENT COMPANY PLC

UPDC CP 18-OCT-16

16.80

**TREASURY BILLS^ DTM 9 16 23 37 51 58 65 79

FIXINGS Maturity 20-Oct-16 27-Oct-16 3-Nov-16 17-Nov-16 1-Dec-16 8-Dec-16 15-Dec-16 29-Dec-16

Bid Discount (%) 14.99 14.75 14.51 14.09 14.51 13.83 14.34 13.64

Offer Discount (%) 14.74 14.50 14.26 13.84 14.26 13.58 14.09 13.39

Bid Yield (%) 15.04 14.84 14.64 14.29 14.81 14.14 14.71 14.05

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 14.2500 17.3977 18.3489 20.0936

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

13.50

Tenor

Closing Rate ($/N)

O/N

13.92

Spot 7D 14D 1M 2M 3M

304.75 315.00 316.99 319.41 322.32 327.23

Tenor Call 1M

REPO

Rate (%) 13.83 14.67

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

REGULATION Fines and penalties applied by the Commission led to improvement in filing compliance Stories: Chris Ugwu

o ensure that a decision to address timely reporting is taken, the Securities and Exchange Commission (SEC) is consulting widely and studying practices in other jurisdictions. The commission made this known in a notice obtained from its website. The SEC management was reacting to a recent media publication tagged ‘NECA flays sanctions on quoted companies by SEC’. The Commission said it was also considering rules on accelerated filing, which will give quoted companies

BUSINESS |FINANCIAL MARKET NEWS

‘SEC moves to address listed firms’ concerns the options of either retaining Filing Q4 financial statements the current Q4 filing system by public companies is as provided in the SEC Rules mandatory under the SEC or filing their audited annual Rules as currently provided for. accounts latest by the second Without an amendment of the week of February of the Rules, the Commission would next year, in order to forgo continue to apply these Rules, the requirement of filling Q4 while consulting with relevant unaudited accounts. stakeholders on necessary The Commission said amendments. it had also reduced the “It is rather unfortunate burden of reporting on that in the middle of this corporate governance with consultative process, the the introduction of corporate Director General of NECA has FMDQ Daily Quotations governance scorecard. taken this issueList to the public “Quoted companies, space in newspaper interviews with effect from 2017, will and letters toBonds the Ministry of now be required to fill the Finance and the Presidency, SEC scorecard on corporate misrepresenting the facts of governance once a year as the matter,” SEC said. against the half-yearly returns The Commission noted that on corporate governance as the apex regulatory authority currently being filed. of the Nigerian capital market, “While the Commission SEC would continue to live up engages stakeholders and looks to its responsibility of investor at ways to address the issue protection by sustaining of quarterly filings, it cannot market fairness and integrity. abdicate its duty of applying “Sometimes this may entail existing rules and regulations. applying strict sanctions

as provided in the law against erring participants. In our considered opinion, maintaining a posture of zero tolerance has presented a credible deterrence that is already improving compliance levels across our market and reducing the number of

infractions. It is noteworthy that the fines and penalties applied by the Commission have led to a massive improvement in filing compliance by quoted companies from less than 25 per cent in December 2011 to over 85 per cent as at September 30, 2016,” the regulator noted.

Economy takes front burner at CIS confab

he Chartered Institute of Brokers (CIS) has concluded arrangements to hold its annual conference as a strategic forum to articulate issues that can move the Nigerian capital market and the financial market forward. Chairman, Conference Planning Committee and Managing Director, Fortress Capital Limited, Mr. Yomi Adeyemi, disclosed this to capital market correspondents yesterday in Lagos, He said this year’s conference, the 20th in the series, is coming at a period when all hands are on deck to address the challenges facing the economy and the effects on the capital market. He said the conference with the theme, “Building New Pillars, Creating New Values for Sustainable Development” was predicated on the compelling need to strengthen the competitiveness of the Nigerian economy of which the capital market is the hub of medium and long-term

source of finance. He said: “Coming at this 11-Oct-16 critical stage of the Nigeria’s economy, which is in dire need of double digit growth, the conference is strategically packaged to provide a platform for aggregating robust ideas aimed at creating a sustainable development and reinforcing investor confidence in our capital market. It is now clear than ever that sound fiscal and monetary policy, innovation and development of all value chains are necessary to revamp the Nigeria’s economy from its current recessionary status. “As partners in progress, this year’s conference will attract finance and industry experts who are expected to discuss the theme from various perspectives and proffer workable solutions,” he said. Adeyemi noted that the Securities and Exchange Commission (SEC) and other capital market stakeholders actively supported the conference.

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. W e 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. W e 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. FGN Bonds

Issuer

Rating/Agency

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

Agency Bonds

Nil

TOTAL OUTSTANDING VALUE

FMBN

TOTAL MARKET CAPITALISATION

Description

Issue Date

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 14.50 15-JUL-2021 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 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 ^12.40 18-MAR-2036

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 13-Jul-16 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

Coupon (%)

Outstanding Value (₦’bn)

15.10 9.85 9.35 10.70 16.00 7.00 15.54 14.50 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.15 12.4000

480.13 20.00 100.00 300.00 351.30 233.90 606.43 210.59 605.31 719.99 421.02 75.00 150.00 200.00 591.57 1075.92 310.00

6,451.16 5,794.39

Description

Issue Date

17.25 FMB II 03-APR-2017

03-Apr-12

Coupon (%)

17.25

he bulls have maintained their grip on market activities, as bargain hunters jostled for shares of blue chip companies. Investors saw the opportunity to take position in the market, as they took advantage of the fact that most of the stock prices are low. The ke y m a rke t performance measures, the NSE All Share Index and market capitalisation, rose by 0.39 per cent, as market sentiments extended gaining streaks following investors’ sustained optimism. Consequently, the All-Share Index gained 109.32 basis points or 0.39 per cent to close at 28,034.32 as against 27,925.00 recorded the previous day, while the market capitalisation of equities appreciated by N31 billion or 0.39 per cent to close at N9.629 trillion from N9.591 trillion as market sentiment remained on the green zone. Meanwhile, a turnover of 234.2 million shares exchanged TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds

A-/Agusto; A-/GCR Nil Nil Nil A/GCR BBB-/GCR Nil

A-/DataPro†; CCC/GCR AAA/DataPro†; B/GCR A+/Agusto; A/GCR

Bbb+/Agusto†; BBB+/GCR† BBB-/DataPro†; BB/GCR Nil A-/GCR

FSDH

***LCRM UBA

*C & I LEASING #{r}

*DANA *TOWER# #

*TOWER UBA

*LA CASERA *CHELLARAMS# #{r}

A+/Agusto; A-/GCR

Bbb/Agusto; A-/GCR BBB/GCR A/GCR BBB/GCR

Bbb/Agusto; A-/GCR A/GCR A/GCR

AAA/GCR

TOTAL OUTSTANDING VALUE

*DANA FCMB

NAHCO

*TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

TOTAL MARKET CAPITALISATION Sukuk

BBB-/Agusto

*OSUN

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Supranational Bond

AAA/S&P

IFC

Aaa/Moody's; AAA/S&P

*AfDB

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

FGN Eurobonds

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

FGN

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Corporate Eurobonds

LAGOS 19-APR-2017 BAYELSA 30-JUN-2017 EDO 31-DEC-2017 DELTA 30-SEP-2018 NIGER II 4-OCT-2018 EKITI 09-DEC-2018 NIGER III 12-DEC-2018 ONDO 14-FEB-2019 GOMBE 02-OCT-2019 LAGOS 22-NOV-2019 OSUN 12-DEC-2019 LAGOS 27-NOV-2020 KOGI 31-DEC-2020 EKITI II 31-DEC-2020 NASARAWA 06-JAN-2021 BAUCHI 9-DEC-2021 OYO 16-FEB-2022 BENUE 27-FEB-2022 PLATEAU 30-MAR-2022 KOGI II 31-MAR-2022 CROSS RIVER 27-MAY-2022

in 3.335 deals was recorded in the day’s trading. Banking services subsector of the financial services sector was the most active (measured by turnover volume); with 129.4 million shares exchanged by investors in 1.044 deals. Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and GTB Plc. Premium sub-sector, boosted by activities in the shares of FBNH Plc and Zenith Bank Plc, followed with a turnover of 26.6 million shares in 592 deals. The number of gainers at the close of trading session was 13, while decliners closed at 21. Seplat Petroleum Plc led the gainers’ table with a gain of five per cent to close at N367.51 per share, while Vitafoam Plc followed with a gain of 4.91 per cent to close at N2.78 per share. Livestock Feeds Plc added 4.88 per cent

*TRANSCORP HOTELS PLC *FCMB UBA FIDELITY

10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

14.25 FSDH 25-OCT-2016 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 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018

MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018

15.75 LA CASERA 18-OCT-2018

MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.75 NAHCO II 14-NOV-2020

15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021

16.48 FIDELITY 13-MAY-2022

16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

14.75 OSUN II 10-OCT-2020

10.20 IFC 11-FEB-2018

11.25 AFDB 1-FEB-2021

Description

6.75 JAN 28, 2021 5.13 JUL 12, 2018 6.38 JUL 12, 2023

7.25 JUL 25, 2017

10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 30-Nov-12 09-Apr-11

14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00 18.00 16.00

09-Sep-11

18.00

09-Sep-11 30-Sep-11

16.00 14.00

18-Oct-13 17-Feb-12

15.75 18.00

01-Apr-14 06-Nov-15

16.00 15.00

14-Nov-13 04-Dec-15 20-Nov-14

30-Dec-14 13-May-15

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

03-Apr-17

0.30

0.52 0.48 1.22 1.26 1.27 1.23 1.24 1.42 1.83 3.11 1.80 4.13 4.22 2.45 2.48 3.03 3.24 3.27 3.38 6.46 3.36

5.53 112.22 116.70 66.49 20.00 0.36 2.70

25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17 30-Nov-17 09-Apr-18

0.04 0.16 0.52 0.73 0.97 0.65 0.99

422.14 396.72

Modelled Price

19.84

99.21

1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

19.01 23.47 22.65 21.11 21.07 24.05 23.77 23.34 19.97 16.91 19.09 16.34 18.79 18.13 16.51 16.38 18.97 15.98 17.56 16.75 18.06

95.71 95.79 91.11 92.61 92.60 90.61 90.34 91.18 93.60 94.29 93.76 91.65 89.19 93.31 97.08 98.01 94.42 101.17 99.85 100.85 97.48

1.34 1.00 3.55 5.25 1.88 1.88 3.15

16.29 16.90 21.56 24.64 22.79 20.71 24.21

99.88 99.72 97.60 94.68 91.87 99.18 93.24

6.35

26.85

91.85

1.00 1.17

21.50 18.60

94.71 92.67

4.42 6.11

25.45 25.87

92.13 91.64 92.33 87.66

3.28 4.47

22.59 19.52

15.75

2.05

14-Nov-20

4.09

1.00

16.05

15.50 14.25

9.76 26.00

04-Dec-20 20-Nov-21

2.59 5.11

3.55 2.51

18.86 17.48

93.51 89.33

16.45 16.48

30.50 30.00

30-Dec-21 13-May-22

5.22 5.58

1.00 1.00

15.97 15.97

101.60 101.80

10.00 0.10

26-Oct-22 30-Sep-24

3.76 7.97

2.77 1.00

17.84 16.22

95.31 100.29

15.44

30-Sep-24

7.97

1.00

16.22

86.96

7.82

29-Jul-30

9.19

1.00

16.40

93.36

10-Oct-20

2.31

3.37

19.50

91.70

12.00

11-Feb-18

1.34

1.00

17.98

91.07

12.95

01-Feb-21

2.56

1.00

14.16

94.03

Bid Price

Offer Price

26-Oct-15 30-Sep-14

16.00 16.29

30-Sep-14

13.25

29-Jul-15

14.90

According to the statement, the third quarter results also showed efficiency gains with appreciable growth in operating income by 11 per cent to N183 billion, while profit after tax rose by eight per cent to N52 billion within the period. Though partly driven by the depreciation in the value of the naira, UBA also recorded a significant 21 per cent yearto-date growth in deposits and a similar 26 per cent growth in total assets. The bank also ensured that cost-to-income 521.19 501.33

14.75

11-Feb-13

10.20

10-Jul-14

11.25

Issue Date

Valuation Yield (%)

2.94

1.47 4.07

nited Bank for Africa Plc (UBA) has recorded seven per cent year-on-year growth in profit before tax to N62 billion for the third quarter ended September 30, 2016. This represents an impressive 18.2 per cent annualised return on average equity. The bank, according to a statement, recorded an appreciable growth in both funding and fee income lines. Furthermore, the lender’s level of impairment in its overall loan book was moderate. 10-Oct-13

# Risk Premium (%)

01-Apr-19 06-Nov-20

UBA grows profit to N62bn in Q3 8.63

8.63 7.92

24.95 23.11

Outstanding Value ($’mm)

Coupon (%)

07-Oct-11

6.75

12-Jul-13

5.13

12-Jul-13

6.38

Maturity Date

Bid Yield (%)

500.00

28-Jan-21

6.74

500.00

12-Jul-18

4.86

500.00

12-Jul-23

6.84

1,500.00 1,489.64 350.00

25-Jul-17

5.26

300.00

02-May-18

23.45

400.00

08-Nov-18

6.47

500.00

22-Apr-19

6.69

8.75

200.00

21-May-19

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

14-Aug-14

8.75

250.00

FMDQ Daily Quotations List

ECOBANK NIG. LTD

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

0.60

Avg. Life/TTM (Yrs)

3.75 23.19

8.75 AUG 14, 2021

8.75 May 21, 2019

Maturity Date

1.02 1.35

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

DIAMOND BANK PLC

Outstanding Value (₦’bn)

6406.155565

1.16 1.97

21-May-14

B/Fitch; B/S&P

98.61 93.12 91.55 89.26 103.10 81.65 101.33 98.61 105.40 96.20 86.01 98.41 84.65 62.24 70.23 81.94 81.48

1.16

6.25

6.25 APR 22, 2019

98.46 92.97 91.40 89.11 102.95 81.35 101.03 98.31 105.10 95.90 85.71 98.11 84.35 61.94 69.93 81.64 81.18

18-Oct-18 17-Feb-19

6.00

6.00 NOV 08, 2018

17.85 19.55 20.18 18.57 14.55 14.71 14.99 14.90 14.86 15.06 15.37 15.28 15.26 15.23 15.21 15.09 15.42

09-Sep-18 30-Sep-18

6.88

6.88 MAY 09, 2018

18.15 19.77 20.38 18.69 14.61 14.86 15.11 14.99 14.94 15.13 15.44 15.34 15.32 15.30 15.28 15.15 15.48

09-Sep-18

7.25

ZENITH BANK PLC

0.54 0.79 0.89 1.63 2.71 3.03 3.34 4.76 5.29 7.42 9.28 12.13 12.61 13.11 13.78 17.77 19.43

1.50 0.23

25-Jul-12

GTBANK PLC

B+/Fitch; BB-/S&P

Offer Price

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 15-Jul-21 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

1.45

22-Apr-14

FIDELITY BANK PLC

B+/Fitch; B+/S&P

Bid Price

0.40 35.00

08-Nov-13

ACCESS BANK PLC

B/Fitch; B/S&P

Offer Yield (%)

57.00 11.33 25.00 19.37 3.49 9.45 7.01 18.70 11.14 80.00 19.40 87.50 5.00 3.74 3.76 14.37 4.17 4.30 27.10 3.00 7.34

to close at 86 kobo per share. On the other hand, Fidson Healthcare Plc led the price losers’ table, dropping 4.82 per cent to close at N1.58 per share. Guinness Nigeria Plc followed with 4.80 per cent to close at N76.00 per share, while Niemeth Nigeria Plc trailed with a loss of 4.65 per cent to close at 82 kobo per share.

09-May-13

B+/S&P

B-/S&P

Bid Yield (%)

0.60

Stock market advances on sustained bargain hunting LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

TTM (Yrs)

0.60

Sub-National Bonds

A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

Price

Maturity Date

99.09

ratio remained flat year-on-year at 65 per cent despite external cost pressures, which masked the positive results of its cost efficiency initiatives. Group Managing Director and CEO of UBA Plc, Mr. Kennedy Uzoka, commenting on the results said: “I am pleased with our performance in the first nine months of the year. Notwithstanding the negative economic growth in Nigeria, we maintained growth in earnings and sustained our asset quality.”

Offer Yield (%)

Prices & Yields

6.49

100.02

100.93

4.42

100.42

101.16

6.70

97.49

98.26

5.26

101.50

21.33

79.21

81.51

6.47

99.10

6.69

99.00

21.65

75.25

07-Aug-20 24-Jun-21 23-Jul-21

12.87 11.95 13.94

12.61 11.63 13.94

86.00 90.16 79.25

86.71 91.20 79.25

14-Aug-21

12.23

11.76

84.88

3,150.00 2,822.21

11-Oct-16

86.63

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 Risk Outstanding Valuation Rating/Agency Issue Yieldbasis @ Issue Maturity Date Discount Rate (%) Premium or investment advice. We attempt to ensureIssuer the Information is accurate; however, theDescription Information is provided “AS IS” and on an “ASDate AVAILABLE” and(%) may not be accurate or up to date. We do notDTM guarantee the accuracy, timeliness, completeness, Value (₦’bn) Yield (%) (%) performance Papers 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. Commercial #

A-/Agusto

TOTAL OUTSTANDING VALUE

UACN PROPERTY DEVELOPMENT COMPANY PLC

Bonds

UPDC CP 18-OCT-16

18-Apr-16

FGN Bonds

**TREASURY BILLS^

Issuer

DTM Rating/Agency 9 16 23 37 51 58 65 79 86 100 114 128 135 142 149 156 163 170 177 184 191 205 212 226 233 247 261 268 275 282 289 296 303 310 317 324 338 345

Maturity 20-Oct-16 27-Oct-16 3-Nov-16 17-Nov-16 1-Dec-16 8-Dec-16 15-Dec-16 29-Dec-16 5-Jan-17 19-Jan-17 2-Feb-17 16-Feb-17 23-Feb-17 2-Mar-17 9-Mar-17 16-Mar-17 23-Mar-17 30-Mar-17 6-Apr-17 13-Apr-17 20-Apr-17 4-May-17 11-May-17 25-May-17 1-Jun-17 15-Jun-17 29-Jun-17 6-Jul-17 13-Jul-17 20-Jul-17 27-Jul-17 3-Aug-17 10-Aug-17 17-Aug-17 24-Aug-17 31-Aug-17 14-Sep-17 21-Sep-17

Rating/Agency

Issuer

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

Agency Bonds Nil

TOTAL OUTSTANDING VALUE

Modified Duration Buckets

Sub-National Bonds A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR† A-/Agusto A-/Agusto; A-/GCR BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR

LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 13-Jul-16 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

Description

957.86 1,326.62 1,292.08 3,576.56

14.84 14.64 14.29 14.81 14.14 14.71 14.05 16.21 14.48 18.48 17.30 17.71 19.38 18.46 18.19 17.56 17.56 17.57 17.90 18.65 20.21 20.09 19.85 19.95 19.34 20.11 21.00 19.96 20.50 20.22 21.15 21.33 21.51 21.69 21.88 22.26 22.32

15.10 9.85 9.35 10.70 16.00 7.00 15.54 14.50 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.15 12.4000

Outstanding Value (₦’bn) Tenor

18-Oct-16

Total Outstanding Volume (₦’bn)

957.73 1,325.30 1,667.49 3,950.52

2.03

16.83

Money Market

Maturity Date Rate (%) 14.2500 17.3977 18.3489 20.0936

O/N

16.77

Price

NIBOR

1M 480.13 27-Apr-17 3M 20.00 27-Jul-17 6M 100.00 31-Aug-17 NITTY 300.00 30-May-18 Tenor Rate (%) 351.30 29-Jun-19 1M 15.0370 2M 15.0423 233.90 23-Oct-19 3M 15.1974 6M 19.6354 606.43 13-Feb-20 9M 20.7329 210.59 15-Jul-21 12M 22.8728 605.31 27-Jan-22 NIFEX 719.99 14-Mar-24 Current Price ($/N) 421.02 22-Jan-26 NIFEX Rate 320.1875 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 1075.92 18-Jul-34 310.00 18-Mar-36

Tenor TTM (Yrs) OBB O/N

(%) BidRate Yield (%) 13.50 13.92

Foreign Exchange (Spot & Forwards) Offer Yield Offer Price Bid Price Closing Rate Tenor ($/N) (%) Spot

7D 0.54 18.15 17.85 REPO 14D 0.79 19.77 19.55 Rate (%) 1M 13.83 2M 0.89 20.38 20.18 14.67 3M 15.58 6M 1.63 18.69 18.57 16.33 1Y 2.71 14.61 14.55 NOTE: 3.03 14.86 14.71 :Benchmarks * :Amortising 3.34 Bond 15.11 14.99 µ :Convertible Bond 14.99 AMCON:4.76 Asset Management Corporation of 14.90 Nigeria FGN: Federal Government of Nigeria 5.29 Mortgage Bank 14.94 14.86 FMBN: Federal of Nigeria IFC: International Finance Corporation 7.42 15.13 15.06 LCRM: Local Contractors Receivables Management NAHCO: 9.28 Nigerian Aviation Handling 15.44 Company 15.37 O/N: Overnight UPDC: UAC 12.13Property Development 15.34 Company15.28 WAPCO:West Africa Portland Cement Company 12.61 15.32 15.26 13.11 15.30 15.23 13.78 15.28 15.21 17.77 15.15 15.09 19.43 15.48 15.42 Tenor Call 1M 3M 6M

6,451.16

304.75

315.00 98.46 98.61 316.99 319.41 92.97 93.12 322.32 91.40 91.55 327.23 336.21 89.11 89.26 353.60 102.95 103.10 81.35 81.65 NA :Not Applicable 101.03Prices 101.33 ^ : Market # : Floating Rate Bond 98.31 ***: Deferred coupon bonds 98.61 DTM: Days-To-Maturity 105.40 TTM:105.10 Term-To-Maturity ‡ : Bond rating under review 95.90 96.20 †: Bond rating expired N/A :Not Available 85.71 86.01 {r} :Issuer in receivership NGC: 98.11 Nigeria-German Company 98.41 UBA: United Bank for Africa 84.35 84.65 61.94 62.24 69.93 70.23 81.64 81.94 81.18 81.48

6406.155565

5,794.39 Coupon (%)

Outstanding Value (₦’bn)

FMDQ FGN BOND INDEX

Porfolio Market Value (₦’bn)

<3 3<5 >5 Market

Bid Yield (%) Coupon 15.04 (%)

Issue Date

17.25 FMB II 03-APR-2017

FMBN

TOTAL MARKET CAPITALISATION

Issue Date

Offer Discount (%) 14.74 14.50 14.26 13.84 14.26 13.58 14.09 13.39 15.36 13.68 17.22 16.06 16.37 17.77 16.92 16.63 16.03 15.99 15.94 16.17 16.75 17.90 17.74 17.43 17.44 16.85 17.33 17.94 17.10 17.45 17.18 17.80 17.87 17.94 18.00 18.07 18.21 18.18

14.75 14.51 14.09 14.51 13.83 14.34 13.64 15.61 13.93 17.47 16.31 16.62 18.02 17.17 16.88 16.28 16.24 16.19 16.42 17.00 18.15 17.99 17.68 17.69 17.10 17.58 18.19 17.35 17.70 17.43 18.05 18.12 18.19 18.25 18.32 18.46 18.43

Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

16.80

16.80 FIXINGS

(%) DescriptionBid Discount 14.99

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

11.00

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Modelled Price

03-Apr-12

17.25

0.60

03-Apr-17

0.30

2.94

19.84

99.21

Weighting by Outstanding Volume

Weighting by Mkt Value

Bucket Weighting

0.60

% Exposure_ Mod_Duration

Implied Yield

Implied Portfolio Price

INDEX

YTD Return (%)

24.24 33.55 42.21 100.00

19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12

26.78 37.09 36.13 100.00

10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50

0.60 57.00 11.33 25.00 19.37 3.49 9.45 7.01 18.70 11.14 80.00

0.24 0.34 0.42 1.00

12.66 29.65 57.69 100.00

19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19

15.66 15.05 15.19 15.21

0.52 0.48 1.22 1.26 1.27 1.23 1.24 1.42 1.83 3.11

135.1000 148.6694 109.1037 128.6793

1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01

1,229.10 1,288.87 1,315.36 1,225.36

19.01 23.47 22.65 21.11 21.07 24.05 23.77 23.34 19.97 16.91

10.9444 27.2872 30.6193 16.1279

95.71 95.79 91.11 92.61 92.60 90.61 90.34 91.18 93.60 94.29

NEWS | national

Buhari must respect rule of law, due process –Group John Chikezie

group, Access to Justice (AJ) yesterday condemned the weekend raid by the Department of State Services (SSS) on some judges' residence, describing it as not only unfortunate, degrading, abrasive and traumatizing, but a contemptuous attack on the nation's ju-

diciary. Director, Access to Justice, Mr. Joseph Otteh, said it was despotic for officials of one branch of government to treat those of another branch in a manner that completely lacked respect and decorum. “These attacks represent an invidious and insidious threat to the independence of the judiciary,” Otteh said.

wednesday, october 12, 2016 NEW TELEGRAPH

Osinbajo: Accountability, panacea for economic prosperity Abdulwahab Isa Abuja

ice-President, Prof. Yemi Osinbajo, yesterday said one way of bringing the economy to a prosperous level is to hold public office holders accountable for their actions.

I was not detained, says Ogah Akeem Nafiu and Igbeaku Orji

resident, Masters Energy Oil and Gas Limited, Dr. Uche Ogah, yesterday faulted media reports claiming that he was arrested by operatives of the Economic and Financial Crimes Commission (EFCC) on Monday after a court session. In a statement by one of his aides, Emma Iheanacho, it said the politician was neither arrested by the anti-graft agency

nor was he being held for any criminal charge. “Ogah as a law abiding citizen went to court on Monday in connection with the case between Mutass Limited and Masters Energy Oil and Gas Limited. The court in its wisdom struck out the case on the ground that the charges against him were preferred hastily without evidence. “The truth of the matter is that as Ogah was leaving the court premises, he was invited by the EFCC for a very brief

chat on the issue, which he agreed to and was later allowed to go. “The reports in the media of his purported arrest were totally misleading, mischievous and was designed to smear his image, distract and scuttle his political goals. “He will remain unflinching in the pursuit of those goals. For the avoidance of doubt, Ogah was not arrested. He is a firm believer in the judiciary and that explains why he decided to attend the court session.”

Osinbajo spoke in Abuja while flagging off the 46th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN) with the theme, “Accountability. Now. Nigeria.” According to the VicePresident, lack of accountability was the bane of underdevelopment in the country, adding that, the choice of the theme was apt. “Holding public officers to account is a key way to help bring the development that we need to the country.” He added that one of the key things the government was doing was to ensure the ease of doing business and the President had set a target on it. The Vice-President said it was important to hold everyone, irrespective of one’s office, accountable for actions taken and that the standard of accountability in the country should be increased. In her speech, Minister

L-R: Executive Secretary, Shippers Council of Nigeria, Mr. Hassan Bello; Managing Director, Nigeria Breweries Plc, Mr. Nico Vervelde and Assistant Director, Finance Department, Central Bank of Nigeria (CBN), Mr Babatunde Ogunleye, during the on-going economic summit in Abuja... yesterday

House probes NYSC’s reduction Badeh: Court admits financial of students for mobilisation transaction documents as exhibits Philip Nyam Abuja

he House of Representatives has resolved to investigate the reported undue reduction in the quota of students to be mobilised annually for the National Youth Service Corps (NYSC) scheme by tertiary institutions. The resolution followed a motion under matters of urgent public importance jointly sponsored by Hons. Raphael Igbokwe (PDPImo) and Babatunde Kolawole (APC-Ondo), which was unanimously adopted by members through a voice vote. Leading debate on the motion, Igbokwe

expressed concern that the NYSC had released a circular to mobilising institutions to reduce their quota by almost 70 per cent. He noted that the 2016 budget made provision for call up of corps members with a shortfall of about 50,000 students. "The NYSC introduced three batches of NYSC to reduce the backlog of students due for youths’ service. NYSC further reduced the batch to two yearly,” he said. The lawmaker further expressed concern that the reduction in the quota of students to be mobilised would cause untold hardship on graduated students, if no action was taken.

Federal High Court, sitting in Abuja, yesterday admitted in evidence, documents showing financial transactions between the Nigerian Air Force and the Ryte Builders Nigeria Limited through Zenith Bank and the United Bank for Africa (UBA). The documents were given in the on-going trial of the former Chief of Defence Staff, Alex Badeh. The judge, Justice Okon Abang, gave the ruling after counsel to the first defendant, Akin Olujimi (SAN), raised objection to the admissibility

3.3m

The total population of Melanesia in 1970. Source: Un.org

of the said documents, by the prosecuting counsel, Rotimi Jacobs (SAN). Abang in his ruling held that though the documents were public documents and were documents that do not require payment of fees before admissibility. The judge also held that there was no law prescribing fees for the documents to be obtained unlike that in the CAC case cited by the counsel to the first defendant. He also held that it is sufficient that since the witness made the documents, he does not need to sign them. Abang, while stating that he agreed with the defence that where a Supreme Court has interpreted a law all other courts must abide by the ruling.

of Finance, Mrs. Kemi Adeosun, said accountability was key in the overall development of the nation. Also speaking, Gombe State Governor, Alhaji Ibrahim Dankwambo, lauded members of the institute for bringing the issue of accountability to the front burner. He said the event was timely. In his remarks, Ogun State Governor, Ibikunle Amosun, described the concept of accountability as all encompassing, a totality of who we are and where we have found ourselves. “This time of recession in the country is the time where accountants are needed. We have to play a

prominent role in the nation to help it get out of recession.” In his response, former Governor of Anambra State, Peter Obi, who spoke on government’s borrowing, said there was nothing wrong in borrowing, but that there should be clarity in such borrowing. “If we are borrowing for production, then it is very good, because like the Minister of Finance said, that is the only way we can grow the economy. But if it is for consumption, it is devastating because it is more like leaving the country and we do not know where we are going,” he said.

NERC reads riot act to DISCOs on audited account's racket

Adeola Yusuf

he Nigerian Electricity Regulatory Commission (NERC) has read the riot act to distribution companies in Nigeria over racket in submission of their financial statements. The commission, which had earlier sanctioned the Port Harcourt Electricity Distribution Company over the audited account submission delay, declared at the monthly power sector stakeholders meeting in Sokoto, that Benin, Kano and Enugu DISCos would be sanctioned for not complying with sector directives regarding submission of audited accounts. In a communique issued at the end of the meeting presided over by the minister in charge of power, Babatunde Fashola, NERC consequently directed that DisCos would be required to submit financial statements of their companies in accordance with the provision of their licenses. "NDPHC announced the completion of Alaoji to Ikot Ekpene 330kv DC line, as well as Calabar to Ikot Ekpene 330kv DC line, following the resolution of community issues in Itu and Oronta. Following the quality assessment by NEMSA, this line will be energized. "Ikot Ekpene switching station is expected to be commissioned at the end of October. These transmission projects are critical to improvements in grid reliability in the country," the communique read. NNPC, the communi-

que showed, informed the meeting of a promising outlook on gas by the end of the third quarter of 2016. The strategy for gas supply improvement involve restoring previous supply level by completing repairs of ELPS 24” pipeline by mid-November 2016, and incremental supply through new supply additions from the following projects: NPDC Oredo 2, Utorogu NAG2, Odidi, Giga gas and TEPNG. The communique issued at the end of the 9th monthly meeting of the Honourable Minister of Power, Works and Housing with operators of the Power Sector, held at Sokoto Independent Power Project, Gidan Salanke Road, Sokoto State, showed that the meeting focused on identifying, discussing and finding practical solutions to critical issues facing the Nigerian Electricity Supply Industry. "The operators were fully represented at the highest executive management levels, including Managing Directors and CEOs of Generating Companies (GenCos), Distribution Companies (DisCos), and the Transmission Company of Nigeria (TCN), as well as various government agencies such as the Niger Delta Power Holding Company (NDPHC), the Nigerian Bulk Electricity Trader (NBET), the Nigerian Electricity Regulatory Commission (NERC), Nigerian Electricity Liability Management Company (NELMCO) and Nigerian Electricity Management Services Agency (NEMSA) responsible for the regulation and development of the electricity industry.

News|SOUTH-WEST

WEDNESDAY, oCTOBER 12, 2016 NEW TELEGRAPH

Akiolu expresses worry over upsurge in kidnapping Muritala Ayinla

arely 24 hours after activist lawyer and Senior Advocate, Mr. Femi Falana canvassed

community policing as panacea for security challenge in Lagos, Oba Rilwan Akiolu yesterday asked Governor Akinwunmi Ambode to live up to expectation by addressing the ravaging

CONFIRMATION/change OF NAME

Maria

I, formally known and addressed as Ojide Angela now wish to be known and addressed as Ojide Nwakaego Maria. All former documents remain valid. The general public should please take note.

Oyindenyifa

I, formerly known and addressed as Larry Peter now wish to be known and addressed as Oyindenyifa Peter. All former documents remain valid. Banks, Ministries, Financial Institutions and the general public should please take note.

Salawu

I, formerly known and addressed as Salahudeen Ramatalai Fade now wish to be known and addressed as Salawu Ramota Fade. All former documents remain valid. The general public should please take note.

Ajayi

This is to confirm that Miss Olafusi Comfort Bosede and Mrs. Ajayi Comfort Bosede refers to the same person. Henceforth, wish to be known and addressed as Mrs. Ajayi Comfort Bosede. All former document remain valid. General public take note.

Hassan

Formerly Know and address as Magaji M. Musa now wish to be called Hassan Musa. All former document remain valid, first Bank, UBA and Ministry of finance Birnin Kebbi should take note.

Adayi

I, formerly known and addressed as Maryam Mohammad now wish to be known and addressed as Mary Adayi. All former documents remain valid. The general public should take note.

Onwe

I, formerly known and addressed as Miss Nwafor Mary Nnenna now wish to be known and addressed as Mrs. Onwe Mary Nnenna. All former documents remain valid. N.Y.S.C, First bank Plc and the general public should please take note.

Akiode

Awah

I, fomerly known and addressed as Clement Asibe now wish to be known and addressed as Clement Asibe Awah. All former documents remain valid. The general public should take note.

Ayoade

This is to confirm that Ayoade Temidun Excel Idowu and Seun Imoleayo Ayoade refers to the same person. All former document remain valid. General public take note.

Christopher

I, formerly known and addressed as Chris Benjamin Imogie now wish to be known and addressed as Christopher Benjamin Imogie. All former documents remain valid. The general public should please take note.

Mmadu

I, formerly known and addressed as Ebuka Madumelu, now wish to be known and addressed as Ebuka Mmadu. All documents bearing my former name remain valid. General public please note.

Onuchukwu

I, formerly known as Onuchie Chimezie Joseph, wish to be known and addressed as Onuchukwu Chimezie Joseph. All former documents remain valid. General public, please take note.

Murtala

I, formerly know and address as Shehu Murtala Na Alhaji Bello now wish to be called Murtala Shehu. All former documents remain valid, general public should take note.

Abara

I, formerly known and addressed as Miss Igwe Stella Ngozi now wish to be known and addressed as Mrs. Abara Stella Ngozi. All former documents remain valid. Zenith bank Plc and the general public should please take note.

Woyengidinipre

I, formerly known and addressed as Akiyode Nuru Femi now wish to be known and addressed as Akiode Nurudeen Femi. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as Kossu Odoni now wish to be known and addressed as Odoni Woyengidinipre. All former documents remain valid. FCMBank Plc, Diamond bank Plc and the general public should take note.

Seiyefa

Victor

I, formerly known and addressed as Lazarus Timiondi now wish to be known and addressed as Mr. Lazarus Timiondi Seiyefa. All former documents remain valid. First bank Plc and the general public should please take note.

I, formerly known and addressed as Charity Chika Okereke now wish to be known and addressed as Mr. Charity Chika Victor. All former documents remain valid. The general public should please take note.

PUBLIC NOTICE

JUSTICIABLE AND CIVIL RIGHTS ALTERNATIVES FOUNDATION

The general public is hereby informed that the above named organization has applied to Corporate Affairs Commission for registration under Part 'C' of the Companies and Allied Matters Act 1990. The Trustees are: 1. Mr. Simon Ikirodah – Coordinator 2. Mrs. Ethel Ikirodah - Member 3. Mr. Michael Mgbeze - Member AIMS AND OBJECTIVES ARE: 1. Advancement of alternative initiatives towards attaining justiciable and civil rights of its members and other (indigent) persons; and concerning occupational safety; 2. Provision of forum for the people/communities and representatives of the people in government to take advantage of its organs for solutions concerning justiciable and civil rights matters. Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. SIGNED: I. S. IKIRODAH ESQ.

menace of kidnapping in the state. Particularly, the monarch said it was imperatice for the governor to look inward with a view to coming up with lasting solutions that would rid the state of kidnapping by setting up security committee at the local government level. Speaking at the 3rd Quarterly Town Hall meeting of Governor Ambode with residents of Lagos Central Senatorial District, Oba Akiolu expressed worry over spate of kidnapping and ‘pockets of security threats bedeviling the state. He urged the government to address the security so as to keep the State of Excellence safe not only for residents but prospective investors by establishing Security Committee at the local government with a view to recruiting able-bodied

men who would work with the police to secure the state, saying that the spate of kidnapping in the state was alarming. Lamenting the rising cases of kidnapping in the state, Oba Akiolu urged Ambode to ensure that the markets in the state were fenced as promised even as he described continued collection of dues in markets as unfair. Akiolu said:” You know I am a retired police officer and I still gather intelligence reports not only about Lagos but about the nation at large. “The state of the security of the state is worrisome. Local Government Security Committee should be established by recruiting able-bodied men who will work with the police to secure the state. The spate of kidnapping in the state is alarming. “Lagosians are wor-

ried over three things; the first being the rejection of the bill seeking special status for Lagos. I believe the bill could not scale through because enough lobbying was not done and Obasanjo caused bulk of the problem. I hope that the bill will be represented and passed in your time.” “The second is Jankara/Onikoriko Market. The contract to rehabilitate the market has been awarded but nothing is being done. It appears the contractors handling the project are not serious. Your instructions that markets in Lagos must be fence, up till now nothing has been done. Another thing they do in the market is collection of dues, it is very unfair, government needs to do something about it.” But while addressing thousands of residents,

Governor Ambode gave an assurance that his administration would not only embark on array of capital projects but also mobilise the contractors in order to cushion the effect of economic recession. He said: “We will put money in the hands of our local contractors and through them stimulate and reflate the economy. Immediate payments will be made to contractors handling health sector and education sector projects within the next two weeks. “We will roll out all our empowerment programmes immediately to assist all our youth, artisans and the needy. The funding for the N500m Lagos State Persons Living with Disability Fund has been provided and beneficiaries will start getting support from this quarter.”

Supremacy fued ends as Olubadan visits Alaafin Sola Adeyemo Ibadan

he age-long supremacy fued that had lingered for decades between the Alaafin of Oyo and the Olubadan of Ibadanland, was yesterday resolved as the Olubadan, Oba Saliu Adetunji, the Ogungunniso 1, visited the Alaafin, Oba Lamidi Olayiwola Adeyemi III in his palace in Oyo. The epochal meeting which the Alaafin said would strengthen unity among the Yoruba race was the first after the late Oba Yunusa Ogundipe, who

ruled from 1999 to 2007. Oba Adetunji said he decided to pay the Alaafin a visit because of the role he played during his installation and coronation as the Olubadan on March 4, 2016, saying that it was vital for Yoruba leaders to unite and move the people forward. The Olubadan made the visit in company with members of the Olubadanin-council, other chiefs and prominent sons of Ibadanland. Among them are the High Chiefs including the Otun Olubadan, Senator Lekan Balogun; Balogun of Ibadaand, Chief Owolabi Olakuleyin; Otun Balogun,

Dr. Femi Olaife; Osi Balogun of Ibadanland, Chief Tajudeen Ajibola; Asipa Olubadan, Chief Eddy Oyewole; Agba-Akin Olubadan, Chief Lekan Alabi; and Ekerin Olubadan, Biodun Daisi. Olubadan said: “I am here today to say thank you to the Alaafin of Oyo. I came to thank him for his support and honouring me during my installation and coronation as the Olubadan of Ibadan land. Like the Yoruba would say, if someone gives thank for yesterday’s kindness, he would get another one, so, I am here to thank him so that I will be

able to get more.” Responding, Oba Adeyemi said Olubadan’s visit would go a long way to strengthen and uphold the cord of peace, unity and cooperation between the two monarchs and their individual cities. While praising the ingenuity of Oba Adetunji, the Oyo monarch noted that the visit had exemplified the kind of relationship that should exist between monarchs in Yoruba land, adding that both Oyo and Ibadan cities were unique because they were the foremost native and real speakers of Yoruba language.

FUTA faults unions’ demand for VC’s sack Ambode recruits 5,000 anything new in their de- Neighbourhood Watchers Babatope Okeowo Akure

anagement of the Federal University of Technology, Akure (FUTA) yesterday expressed its readiness to welcome the Federal Government’s Visitation Panel to investigate any corruption charges brought against the Vice Chancellor, Prof Adebiyi Daramola. The Deputy Vice Chancellor (Academics), Prof Omotunde Arayela who disclosed this at a press conference held by the school management on the crisis rocking the university, said since the institution belonged to the federal government, it was within its discretion to either constitute the Visitation or Audit panel even as it was government’s tradition to constitute Visitation Panel every five years to look into institution’s record, saying the university’s aggrieved unions was not asking for

mand. Three unions of the university including Non-Teaching Staff Association of Universities (NASU), Senior Staff Association of Nigeria Universities (SSANU) and National Association of Technologists of Nigerian Universities (NAAT), had demanded the removal of Daramola from office before peace would return into the university. The unions gave conditions for peace which they said included the removal of the VC with immediate effect, the dissolution of Governing Council, constitution of special audit team and the inauguration of a Visitation Panel. But Arayela who represented the Vice Chancellor at the Press Conference said dialogue between the management and the aggrieved unions would resolve the crisis that had paralyzed academic activities in the university.

Muritala Ayinla

etermined to beef up security in the state, especially at the community level, Lagos State Governor, Mr Akinwunmi Ambode yesterday unveiled plans to recruit at least 5,000 Neighbourhood Watchers with new recruits expected to earn at least N25, 000 monthly with other allowances. This, he described as one of the strategies to enhance community policing, saying security of lives and property had remained pivotal to his administration. Addressing residents during the Quaterly Tall Hall meeting on the plan to boost security at the grassroot, Ambode said the neighbourhood Safety Agency Bill which he signed into Law on August 15, 2016 was part of the efforts to institutionalise and deepen community policing in the State. He said: “There is a law

that has just been passed which is the Lagos State Neighborhood Safety Corps Law, 2016 and in line with the resolution taken by the House of Assembly yesterday, we would go all out to make sure that this agency is activated and all our neighborhoods will be covered and then centralize with the State Government with all the necessary equipment and resources to ensure that we establish what we call community policing and that is the way to go. “We will rebrand Neighborhood Watchers and re-equip them to the level that each Neighborhood Watchers in all the local governments will have their vehicles and necessary equipment to complement security. We are also working on employing additional 5,000 Neighborhood Watchers in all our Local Governments and they will be paid by us, while the basic salary for the entrance level will be N25, 000 per month.”

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

News|SOUTH-EAST

SAN, group slam DSS over judges’ arrest UchennaInya

ABAKALIKI

Senior Advocate of Nigeria (SAN) and Professor of Environmental law, Amari Omaka yesterday described the clampdown on judges in the country as unconstitutional and desecration of the judiciary. This is coming after a group in the state, Concerned Ebonyi League of Professionals (CELOP), called on the Presidency to imbibe the change begins with you slogan and do things with human face. Omaka, the first and only SAN from Ebonyi State, said that even though he never supported any form of corruption at any level, the manner in which the war against corruption was being pursued by the Buhari administration was worrisome. He said: “The manner in which the Department of Security Services (DSS) has gone about these arrest leaves much to be deserved because I know as a legal practitioner of my standing

that there are ways of disciplining erring judges. “So to me, it is a desecration of the highly-honoured judicial system for a DSS to go into their houses to arrest them without any recourse to due process. “For you to go at the dead of the night to arrest judges is the height of assault because people can’t even believe they are law enforcement agents.” In a communique signed by three of its members, Obinna Ekuma, Dr. Eze Gabriel and Barr. Paulinus Nwaja after an emergency meeting in Abakaliki, the group described the arrest of Justice Nwali Ngwuta and other judges as abuse of powers by the DSS. “The acts of the DSS officers by arresting judges who are enjoying judicial immunity as provided for by our constitution, laws, the Supreme Court Rules and Laws, which is a necessary condition for them to be able to dispense justice, shows that the DSS has no respect and regard for separation of powers and independence of the judiciary”, it said.

Charles Onyekwere ENUGU

ollowing the recent arrests and subsequent release of some Nigerian judges by the Department of State Services DSS), the Indigenous People of Biafra (IPOB) has described President Muhammadu Buhari as another IdiAmin of Uganda because of the way he allegedly prodded the DSS to make the arrests. In a statement signed by its spokesmen, Emma Mmezu and Clifford Iroanya respectively, IPOB pointed out that the DSS did not have the statutory powers to make such arrests in a democratic setting. According to the statement, Buhari instigated the arrests of the judges especially Justice Ademola who gave judgment that the detained IPOB leader, Nnamdi Kanu, be released for want of concrete evidence against him. It stated that no matter how Buhari tried to frus-

Enugu Commissioner defends teachers’ recruitment Blessing Njoku ENUGU

he Enugu state Commissioner for Education, Prof. Uche Eze, yesterday defended the recent 2,000 teachers’ recruitment exercise conducted by the state Universal Basic Education Board (ENSUBEB), saying that the exercise went well and that he supervised every process of the recruitment. Eze stated that although no process of that nature was error free, but in his estimation, the exercise had 70% success. He also said that the rest of the process should be allowed to continue. It would be recalled that penultimate week, the Enugu State House of Assembly resolved that the recruitment exercise aimed at employing about 2000 primary school teachers be nullified because irregularities were noticed during the recruitment exercise. Sequel to the perceived irregularities, the House had invited the Chairman of ESUBEB, Chief Ikeje Asogwa to appear before it, and not satisfied with his explanation, went ahead to invite the commissioner of the supervising ministry, Ministry of Education, Prof. Uche, to come and explain the role of his ministry during the exercise. Eze said the approval to recruit teachers was given by the state executive council.

IPOB chides Buhari over arrest of judges trate Biafra emancipation by vilifying Justice Ademola and the continued detention of Nnamdi Kanu,”there is no stopping of Biafra struggle.” The statement reads: “Because of his innate dictatorial lifestyle, Retired Major-General Muhammadu Buhari has continued to use Nigeria’s Department of Security Service (DSS) to perform duties statutorily assigned to the Nigeria Police Force and other relevant agencies. In simple terms, what we are witnessing now is a repeat of the late Idi Amin’s style of running a country. Within the shortest possible time, the Nigerian Judges shall experience the same thing that happened to the 50year old Chief Justice Benedicto Kiwanuka on September 21, 1972, in Kampala-Uganda. “In recent reports from

various newspapers within and outside Nigeria, the DSS was said to have embarked on the arrest of Judges on allegations of corruption. According to Saharareporters of New York, one Abdullahi Garba stated that the DSS carried out a ‘special sting operations’ which, according to him, ‘constitutes a part of its mandate.’ Mr. Abdullahi Garba maintained that the DSS action ‘is in line with its core mandate.’ He went further to state that ‘this current operation will be sustained and followed till sanity and sanctity is restored to the esteemed third arm of government and public confidence is regained’. “For the avoidance of doubts and to correct the falsehood being peddled by the DSS, it is proper that we make public, the law establishing the DSS and state their responsibilities.”

Minister of Mines and Steel Development, Dr. Kayode Fayemi, with Ebonyi State Governor, David Umahi, during the governor’s visit in Abuja... yesterday

PPA appoints caretaker committee in Abia Mojeed Alabi

s part of the moves to restructure the party towards making meaningful contributions to the growth of democracy in the country, the Progressives Peoples’ Alliance (PPA), has dissolved its executive committee in Abia State, and appointed in its place, a five-man caretaker committee. In a letter addressed to the Chairman of the Independent National Electoral Commission (INEC), and signed by PPA’s National Secretary, Mr. Kehinde Edun, the party hinged its action on the Article 10 (D) (iii) of its constitution, urging the electoral body to accord the newly appointed members of the committee the deserved recognition. The caretaker committee, which is chaired by Mr. Perfect Okorie, also has Mr. Innocent Ekeke as its Secretary, while the trio of Hon. Ukoro, Mr. Onyeanula Igbokwe and Prince Emeka Nwaokocha as Deputy Chairman (North), Deputy Chairman (Central) and Deputy Chairman (South), respectively.

N101.33 The average price of Premium Motor Spirit (Petrol) of Bayelsa State in March 2015. Source: National Bureau of Statistics

71,874

The number of fixed-telephone subscriptions of Cape Verde in 2009. Source: Itu.int

N20m project: Anambra communities Imo sliding into dictatorship as pensioners waste away –Ex-perm secs meet completion deadline meeting the requirements Steve Uzoechi OWERRI

ssociation of Retired Permanent Secretaries has called on the Imo State House of Assembly and the Judiciary to rise up to their constitutional responsibility of checkmating the excesses of the executive, warning that if they fail to rise up, the state will slide into reprehensible dictatorship. The former senior civil servants also raised the alarm that over 200 retired civil servants had died through starvation and inability to afford medications following the refusal of the Imo State government to pay pensions as and when due. Chairman of the association in Imo State, Chief Hyacinth Onyekwere made

the assertions while briefing newsmen yesterday in Owerri, the Imo State capital. According to him, November 2011 till date, 12 retired Permanent Secretaries had died as a result of non-payment of pensions to enable them feed and buy their medications. “Daily, Governor Rochas Okorocha is dehumanising pensioners in Imo State by refusing to pay them their pensions, thereby subjecting them to untold hardship. An action we view as callous and unconscionable,” Onyekwere said. He berated the State Government for 70 per cent payment of one month pension out of 16 to 70 months arrears owed different categories of pensioners. He further condemned the practice wherein contractors and hirelings who lack the expertise and

capacity were engaged to handle pensions as against the office of the Head of Service of the State which was the statutory norm. Onyekwere lamented that traditional rulers, most of whom were ill-equipped to do so, now superintend the administration of pensions in the state, regretting that the Sub-Treasury which possessed the expertise had been relegated to the background. Earlier, the Imo State Chairman, Nigerian Union of Pensioners (NUP), Chief Gideon Ezeji, said that as at October 2016, the state Government is owing civil servants pensioners 20 months pension; retired Permanent Secretaries 20 months pension arrears; retired primary school teachers 30 months; retired local government pensioners 21 months pension arrears.

Pamela Eboh AWKA

ith the February, 2017 date for the completion of N20million project sponsored by the government of Governor Willie Obiano drawing close, the 177 communities in the state have started putting their acts together in order not to be found wanting. The community project scheme was created under the economic stimulus package with the aim of cushioning the effects of the current recession in the country. Under the programme, each community is given the leverage to decide on the kind of project to be sited in their area, and the contractor that would execute the project was also to come from the community after

set by government. Also a government consultant will have to assess the project which must pass through the state tenders’ board before the contract was awarded. Addressing Journalists on the outcome of the state’s weekly Executive Council meeting yesterday in Awka, Commissioner for information and communication strategy, Ogbuefi Tony Nnacheta, said that of the 177 communities in the state, only 17 have got their projects underway, while 32 communities have signed contracts for their projects. He noted that 34 other communities had selected their contractors and obtained advanced payment guarantees from their banks, just as 29 others have also submitted their chosen projects to the tenders’ board.

News|SOUTH-SOUTH

WEDNESDAY, oCTOBER 12, 2016 NEW TELEGRAPH

Bakassi: We’ve no home 14 years after, Ita-Giwa laments Wale Elegbede

ormer Presidential Adviser on National Assembly Matters, Senator Florence Ita Giwa, again yesterday lamented that 14 years after Bakassi Peninsula was ceded to the Republic of Cameroun, the people of the territory still have no place to call their home. She reminded the Federal Government that 14 years after that sad incident, the people were

yet to be resettled even though they were moved to a camp in Dayspring Island, where they were duly registered and voted during the last general elections. In a statement signed by her yesterday, Ita Giwa pleaded with President Muhammadu Buhari to restore her people’s identity, pride and dignity by properly resettling them so that thousands of Bakassi children currently suffering untold hardship

66.1m

The estimated total population of Western Asia in 1960. Source: Un.org

would have access to basic needs of life like water, food and basic education, among many other amenities. Ita Giwa, who is the political leader of the Bakassi people, painted a gloomy picture of the living condition of the people in the camp, saying that a child born 14 years ago when Bakassi was ceded on October 10, had never had access to any home, attended no school and had no access to healthcare fa-

187,155

The total number of active fixed wired/wireless lines of Nigeria in December 2015. Source: Ncc.gov.ng

cilities. The statement reads in part: “October 10, 2016, makes it the 14th year that my people lost their homes and heritage. It’s being a story of neglect, suffering and distressing conditions among my people. “The population is increasing each passing day, yet no commensurate facilities to cater for their welfare. There is no food, no water and no shelter. My interventions and the support of a few others

0.54%

The capital importation percentage share of Trading of Nigeria in 2008. Source: National Bureau of Statistics

are not adequate to impact positively on them. “Inasmuch as I know that the nation is passing through hard times, I want to use this medium to call on the Federal Government to take decisive action and resettle us in Dayspring Island where INEC registered us and where we voted. “We are Nigerians by choice and we do not wish to seek independence or declare a republic, because all such denied and deprived en-

JTF disperses protesting ex-Niger Delta militants Chris Ejim Yenagoa

detachment of troops of the joint military force deployed to the Niger Delta, Operation Delta Safe, yesterday dispersed hundreds of protesting former militants, who had blocked the East-West Road with fire arms injuring one of them. The former militants under Phases One to Three of the amnesty programme, blocked the Mbiama axis of the EastWest road to motorists at about 6.30am yesterday. Respite, however, came the way of the trapped

Cross River State Governor, Professor Ben Ayade, the Speaker Cross River State House of Assembly, Rt. Hon. John Gaul Lebo and the Deputy Speaker, Rt. Hon. Joseph Bassey, during a solidarity visit by members of the state legislature to the governor in his office in Calabar... Tuesday

Ijaw leaders to FG: Forget military operation in N’Delta

jaw leaders on Monday reiterated their call on the Federal Government to forget about military option in its efforts at addressing the Niger Delta crisis, saying the move would not yield the desired result. This was the central message of goodwill speeches delivered at the first memorial lecture held in honour of the late former Governor of Bayelsa State, Chief Diepreye Alamieyeseigha, at his

hometown, Amassoma, in Southern Ijaw Local Government Area of the state. Addressing a large crowd of supporters of the departed Ijaw hero at the lecture, Governor Seriake Dickson, urged the Federal Government to intensify its efforts at developing the Niger Delta by tackling peculiar needs of the people, especially in the areas of infrastructure, healthcare delivery and education. Represented by his Deputy, Gboribiogha

John Jonah, the governor, who described late Alamieyeseigha as a bridge builder and passionate crusader of Ijaw national interest, challenged Ijaw sons and daughters to see his departure as a rallying point to forge a united front to demand equity and fairness. He acknowledged some of the achievements of the late former governor, including the establishment of the Niger Delta University, Amassoma,

which he noted, had contributed in no small measure towards boosting the growth of education and human capacity development of the state. The governor expressed gratitude to all who attended the event from within and outside the state, the chiefs and people of Amassoma and particularly the Southern Ijaw Local Government Council, for its offer to bankroll the Alamieyeseigha memorial activities next year.

Gabriel Efeduku

nity said: “The land mass of Okoyitoru is currently washing away and if same is left unattended to the community might go into extinction, hence the only remedy is for urgent piling and sand filing to be carried out for our client and same must be commenced within 14 days from the date of your receipt of this letter, otherwise we shall be left with no other choice than to advise our client on all legal remedies available to them. “Our instruction upon the mandate from our clients as eminently pre-

sented by Hon. Timi Oluba, Chairman of Okoyitoru Development Council and other executives of our clients, is to the effect that our client is an oil producing community within the ‘Makaraba field’ in Warri South-West Local Government Area of Delta State, where your company has continually carried out the business of oil exploration activities since 1973. “That our client’s daily production ratio is placed at 29,000 barrels per day with a shortfall

of only 11 barrel production of your 40,000 barrel per day actual capacity production and despite the above daily production, our client has remained a land neglected, with a people marginalised and can best be described as a place where indeed the people sit on water without having water to drink and if same is allowed to continue it will surely create an unpleasant situation for everyone in the area as our clients are no longer afraid.

Community gives Chevron 14-day ultimatum Ughelli

eaders of Okoyitoru community in Gbaramatu Kingdom, Warri South West Local Government Area of Delta State, yesterday gave a 14-day ultimatum to Chevron Nigeria Limited to commence the pilling and sand filling of the devastated community. In a letter to the Managing Director of the organisation dated October 10, 2016, through their lawyer, Omes Ogedegbe Esq; the commu-

tities like Bakassi have the right to secede as enshrined in the charter of the United Nations, but that is not what we want. We want to be integrated. We want to have a true sense of belonging as Nigerians that we are. “Our rights are fundamental and the government should protect it by coming to our rescue through providing enabling environments that will make living worthwhile for us,” she concluded.

motorists when armed troops of the joint task force arrived in two patrol vans to remove the blockade and open the road to the public at around 7.30am. The soldiers fired several warning shots into the air which compelled the protesters to scamper for safety in several directions. A former militant, Mr. Elliot Seimiebo, who is on Phase One of the amnesty programme, said the soldiers had used the firearms to disperse the peaceful protest aimed at drawing the attention to the neglect of their welfare.

Dickson harps on character, ethics training in youths Chris Ejim Yenagoa

ayelsa State Governor, Seriake Dickson, yesterday called for thorough training in character and ethical values among youths of the state so as to enable them fully develop their potentials and render quality service to the society. Dickson, who made the call at a dinner hosted by the Nigeria Fellowship of Evangelical Students (NIFES) in Abuja on Sunday, noted that it was diffi-

cult to talk about the greatness of a nation, without talking about the values, character and knowledge of young people. “The greatness of a nation is the summation of the potential of the people in it, especially of its young people,” he said. He observed that academic training, leading to the award of degrees, which he referred to as uni-dimensional, was not enough, but that some basic values were as important in building the human personality.

Rivers deputy gov seeks laws protecting girl-child

ivers State Deputy Governor, Dr. Ipalibo Banigo, has called for the enactment of more laws that would guarantee the protection of the girlchild in the country. Banigo said in a statement signed by her Media Assistant, Mr. Paul Damgbor, in commemoration of the 2016 International Day of the GirlChild. The News Agency of Nigeria (NAN) reports that the International

Day of the Girl-Child is celebrated annually on October 11 around the world. The theme of the 2016 International Day of the Girl-Child is “Girls’ Progress = Goals’ Progress: A Global Girl Data Movement. “This is a call for action for increased investment in collecting and analysing girlfocused, girl-relevant and sex-disaggregated data.”

News|NORTH

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Kano bans Shiites as group protests Kaduna’s order Muhammad Kabir and Ibraheem Musa

he Kano State Police Command yesterday announced the banning of the Islamic Movement in Nigeria (IMN), otherwise referred to as Shiite and its activities in the state. The action of Kano State is coming after similar ban placed on the activities of the Muslim group by both the Kaduna and the Katsina States. Commissioner of Police

(CP), Rabiu Yusuf, warned the people of the state, especially those who organise and conduct processions in the name of religious rites to desist from doing so or face the full wrath of the law. The warning was contained in a statement signed by the state Police Public Relations Officer, DSP Magaji Majiya and made available to newsmen in Kano yesterday. The statement reads: “The Kano State Police Command under the leadership of CP Rabiu Yusuf is sounding a warning

especially to people, who organise and conduct processions in the name of religious rite. “The commissioner of police boldly warned that the command will not relent in ensuring that law and order prevail on any religious group or sect that constitutes a threat to public peace and order.” According to the statement, the Command would continue to respect the right to religion, but will not allow any group to misuse the right by breaking the law and infringe on other

people’s rights in the community and public roads or places. “We hope the good people of the state will continue to cooperate with the Command to avert the criminal intent of some few elements in the state and its neighbourhood,” the statement added.

Meanwhile, members of the Islamic Movement in Nigeria yesterday vowed to defy the order by Kaduna State Governor, Nasir el-Rufai banning the activities of the religious group. They said they will embark on a procession today to commemorate the martyrdom of Imam Hussain,

€33.7m $1.01m The estimated transfer value of Chris Smalling of Manchester United in 2016. Source: 101greatgoals.com

The capital importation of the Drilling sector of Nigeria in Q2 2014. Source: National Bureau of Statistics

the grand-child of Prophet Muhammad (SAW). In a statement sent by email yesterday, the spokesman of the Shi’ites, Malam Ibrahim Musa promised that the procession which marks Ashura day would be peaceful as it had always been in the previous years. The spokesman, who had been declared wanted by Kaduna State Government in connection with the December last year clash between the Nigerian Army and the Islamic group, has dispelled reports that the Shiites planned to invade Kaduna and attack clerics that supported their ban.

Trade fair: Plateau assures 70,000 investors of adequate security Sokoto State Governor, Aminu Tambuwal, speaking after he received a plaque from Prof Istifanus Zababe, during a visit to Sokoto governor by the participants of Course 25 of the National Defence College in Sokoto... yesterday.

Ortom, Suswam in war of words over Benue’s affairs Cephas Iorhemen MAKURDI

he seemingly unending political hostility between Benue State Governor, Samuel Ortom and his predecessor, Gabriel Suswam yesterday assumed a worrisome dimension as the two political juggernauts engaged each other in war of words over the running of the state. Suswam, while addressing members of the People’s Democratic Party (PDP) at the party’s Secre-

tariat in Makurdi, accused Ortom, of running a government of deceit. He also picked holes in the process of the appointment of Sole Administrators for the 23 Local Government Areas of the state, saying their appointments were not done in conformity with the law and due process. But in a swift reaction, Governor Ortom defended the appointment saying the Sole Administrators followed due process and approved legislation from

the state House of Assembly, where PDP members also held sway. He merely waved Suswam’s invective with the back of his hand, and accused the former governor of possessing forged and fake certificates. Ortom said the former governor, who is a lawyer should have known that the Constitution of the country allows state government to make laws for the local government councils. “Before now people used to say that Suswam

has fake and forged certificates, but I never believe them until now,” Ortom said. While insisting that due process was not followed, the former governor, however, accused Ortom of introducing what he referred to as “hate and bitterness” governance in the running of the state. He said: “Benue State is in a big mess. We may stand up and speak loudly against this government even if it means going to jail.”

Benue varsity student sues NAF for N50m Nasarawa Assembly lifts suspension Cephas Iorhemen MAKURDI

n undergraduate of the Benue State University (BSU), Makurdi, George Agema, has dragged the Nigeria Air Force (NAF) before a Federal High Court, sitting in Makurdi for N50 million in damages over an alleged armed robbery and violation of his human rights. Agema, in a suit FHC/ MKD/CS/08/2016 is seeking an order for the “Enforcement of his Fundamental Human Rights.” Also joined in the suit as 1st, 2nd, 3rd and 4th respondents are ACM Ubah Austine, Chief of Air Staff, the Nigeria Air Force and the Attorney-General of the

Federation. According to the applicant, who said he is a commercial motorcyclist, the 1st respondent and his accomplice (now believed to be at large) had robbed him of his motorcycle at gun point at Gyado Villa on 26th March, 2015. Agema in his grounds of reliefs said when he reported the incident at the Provost Marshal Office at the Air Force Base in Makurdi, one of the officers pounced on him and beat him into a pulp. According to him, two of his friends that accompanied him to report the matter were also not spared as they were beaten and subjected to forced labour for nine hours before some other personnel of the Air Force came to their rescue.

on six members

Cheke Emmanuel LAFIA

asarawa State House of Assembly yesterday lifted the suspension placed on six members who were suspended for their misconduct seven months ago. The lifting of their suspension followed a report of an ad-hoc committee set up by the House to investigate them over bribery allegations they leveled against the House in April. The affected lawmakers are Hon. Makpa Mala Wamba; Hon. Murtala Sodangi, representing Nasarawa Central Con-

stituency; Hon. Mohammed Kasim (Akwanga West Constituency) and Hon. Mohammed Onuku (Udege/Loko Constituency); Hon. Musa Ali (Keffi Constituency) and Hon. Abubakar Ogbere Kana, representing Kokona West Constituency in the House. Adopting the committee’s report, the House resolved that the six lawmakers should tender a written apology to the House, as well as open apology during the House’s plenary, even as the House of Assembly agreed to pay all their entitlements in full, while their suspension last.

Musa Pam Jos

lateau State Government yesterday disclosed that adequate security measures has been put in place to ensure a hitch-free 2016 Jos International Trade Fair slated for between October 18 and 29 at the Jos Polo Field. This, the state said arrangements had been concluded to host 70,000 investors and visitors from international community. They are from India, Ghana and Mali. The President of the Plateau Chambers of Commerce, Industry, Mines and Agriculture (PLACCIMA), Elder Bulus Dareng, who spoke yesterday in Jos, the state capital, while briefing newsmen ahead of the 2016 Trade Fair, said: “We are doing everything possible to ensure the safety of lives and property of everyone at the venue of the trade fair and there will be

proper lighting system inside and outside the venue with security personnel stationed at strategic positions to monitor happenings within the vicinity of the fair.” According to the president, the 2016 Jos Trade Fair being one of the biggest commercial events in the state will attract over 300 exhibitors from the corporate organisations and government agencies. “All the 19 northern states and local government areas, with over 70,000 visitors and investors will in attendance, and this means that a big platform will be provided for intending investors and existing ones, manufacturers, buyers and sellers of goods and services to really exchange ideas, technology and innovations,” he said. It will be recalled that the Jos Trade Fair was initiated in 2010 and was later put on hold due to security challenges in the state.

Crisis rocks CAN in Kwara Biodun Oyeleye Ilorin

Christian group, Organisation of African Instituted Churches (OAIC) in Kwara State under the Christian Association of Nigeria (CAN) is embroiled in a crisis over alleged plan by a faction of the fellowship to usurp the leadership of the group. Already, security agencies in the state were said to have invited some leaders of the two factions, even as the national leadership of the group had ordered one of the groups to put on hold the planned inauguration of its state executive committee. It was gathered that the crisis in the group, Organisation of African Instituted Churches began due to nonrecognition of a faction, led by Superior Evangelist Funmi Babalola, who yesterday led a team of his executive committee to denounce a planned visit by leaders of the group in North Central

region, Bishop R. Nwakwo. In a strongly worded statement made available to newsmen in Ilorin, Babalola, expressed concern that the visit was a ploy to impose leaders from three of the eight local government areas where the OAIC had presence on his team without proper reconciliation. Babalola explained that since his group paraded most membership of the OAIC, it was pertinent that any contact with fellowship leaders in the state be conducted with his involvement, even as he lamented that security agents had been monitoring his movements over the incident. “We were invited by the Department of Security Service (DSS) three days ago, following a report by some people against us, but the security personnel dismissed the allegations and told us to continue what we are doing because the truth is that we are on the side of the truth,” he said.

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Sport Adekunle Salami

uper Eagles’ goalkeeper trainer, Alloy Agu, has said that there is no room for complacency in the team as the players are fired up for the challenge of winning the Russia 2018 World Cup ticket. Nigeria on Sunday defeated Zambia 2-1 in Ndola in one of the first round of matches in the African qualifying series for the Copa Mundial. Agu however said the victory was not enough to make the players complacent because they were aware of the task ahead which Nigeria was yet to attain. He said: “There is serious competition now in the team and the Head coach (Gernot Rohr) during team talk emphasized that the players would continue to fight for places because their current form is most crucial. “We are yet to win the ticket and the players are aware that qualification is the target. They also know that getting a shirt now is tough. Hard work is very important and we have encouraged them to maintain good form even at club level.” The former international revealed that he had never lost a match to Zambia both as a player and coach after four matches against the Chipolopolo. Agu added: “As a player, I was in the team that defeated Zambia 2-0 at Algiers ’90 and I was also in the side that defeated them 2-1 in the final of the Nations Cup at Tunisia ’94. “I was in the technical crew that beat Zambia in the U-23 Olympic team last year before the Rio Games. We played goalless in Nigeria and defeated them 2-1 in Lusaka. Now, I was in the team that defeated them 2-1 again in Ndola. I knew before the match that I won’t lose to Zambia.”

Sport News

Did you know?

Eagles’ defence still shaky – Ikpeba

That Belgium’s Christian Benteke’s goal against Gibraltar is the fastest in the history of competitive international football when he scored after 8.1 seconds in a World Cup qualifier on October 10, 2016

Sport NFF begs local coaches, pays half outstandings

Alloy Agu:

No room for complacency in Eagles

Agu

…recounts victory over Zambia as player, coach

Nigeria’s Wilfred Ndidi (left) chasing Zambia’s Collins Mbensuma during the 2018 World Cup qualifier in Ndola at the weekend

Eagles’ win, new beginning –Kalu

P The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi

illar of Sports, Dr. Orji Uzor Kalu, yesterday went poetic describing Nigeria’s historic 2-1 away victory over Zambia in Ndola as the beginning of a new era which will shake global soccer in the near future. Speaking in Abuja after receiving a couple of football die–hards who came to

celebrate the triumph is his house, Kalu who could not conceal his joy, urged Nigerians to brace up for a new brand of football from the revitalised Eagles. He said ; “I saw a different bunch of Eagles against the Chipolopolo. The team played as one cohesive unit, something we last saw in the Golden

Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Kalu

days of yore. I saw tactical discipline and maturity as team leader Mikel Obi marshalled the boys to action. Indeed, the Eagles have landed. They made my day.” The former Abia State governor further highlighted the character of the team when he explained that beating Zambia at home was a feat which should be given more than the usual round of applause. “The Zambians are a very tough nut to crack. In 1973, they beat Nigeria 5-1 in Lusaka. General Yakubu Gowon had to disband the team. That was the same Eagles squad that had earlier in the year won All Africa Games gold. That drubbing cost the nation a place in the Egypt ’74 Nations Cup. As KK Eleven, they also

stopped the Eagles from going to Egypt’ 86. Even when the Super Eagles won the South Africa 2013 Nations Cup, they could not defeat the Zambians “ he added. Kalu charged the Eagles to hit other group opponents as hard. “This is the time to bury the ghost of the Indomitable Lions of Cameroon. I believe in this team. Under Christian Chukwu and Emma Okala, who born Cameroon? Eagles beat them 1-0 in Yaounde in 1974. Okala was in goal. Their keeper was Mbala. They had Roger Milla, Doumbe Lea, Gregoire Mbida. We featured Chukwu, Haruna Ilerika and Jossy Dombraye. Eagles also defeated them 3-2 at away after a 1-1 draw in Ibadan in 1969. Ganiyu Salami was part of that squad, “ he said.

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SPORT NEWS

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

Clubs threaten Falconets’ World Cup preparations Abiodun James

ead Coach of Super Falconets, Peter Dedevbo, has blamed local clubs for halting the team’s preparation for the 2016 FIFA U-20 Women’s World Cup billed for next month in Papua New Guinea. Dedevbo on Tuesday agonised that within the two weeks since his camp commenced, he had released players on several occasions for club engagements. “This situation is not easy for me and my technical crew because a lot of the players we need to work with are being dragged away by their clubs to honour midweek and weekend league matches. Bayelsa Queens, Nasarawa Amazons and Sunshine Queens want their players for matches throughout the week

Eagles’ defence still shaky – Ikpeba

till October 27. “This is frustrating my training schedule because it means I have only few days to work with the full compliment of players before we leave for the tournament. I have always built the foundation of my team on the home –based players. The absence of players affected the trial match we had on Sunday evening,” he said He added that, “I understand that they need these players to do well in the league, but we are running out of time and we need to draw a line between national interest and club interest.”

Ubong Emmanuel

x-international, Victor Ikpeba has tasked Super Eagles’ coaching crew to work on the team’s defence ahead of their next match against the Dessert Foxes of Algeria billed for November 12 at the Akwa Ibom Stadium, Uyo. The Super Eagles started their World Cup qualifying campaign on a bright note with a 2-1 away win over the Chipolopolo of Zambia in Ndola on Sunday, but Ikpeba is still scared of the team’s defence line. “They had a great game, but the defence needs to be worked on, there were some lapses especially by Kenneth Omeruo, Wilson Ndidi and Elderson Echiéjilé, maybe because Rohr used Ndidi in a new position he is unfamiliar with,” the former Borussia Dortmund attacker said.

Dedevbo

Super crumbs from Ndola CompiledbyAdekunleSalami

Rohr’s humility

agles Manager, Gernot Rohr, showed his other side during his trip to Ndola.A seat was provided for him in the business class area of the aircraft but Rohr insisted he would stay with his players in the economy class. He sat with Salisu Yusuf and Imama Amakapabo. His humility was a surprise to many just as he occasional moved round to greet and share jokes with the platers during the flight.

They love tips here

eople of Zambia love tips. It is a way of life. They don’t call it bribe. They offer to assist and ask for something in which is a tip. At the restaurant on Saturday after meal, the lady collected her legitimate money and demanded for a tip. “Pleas give me a tip. I need transport fare to go home.” We gave her 10 Kwacha.

Woow, so hot here!

he weather in Ndola was something else. As we arrived the airport the heat that greeted us was massive. The weather was about 36 degrees Celsius and it was not only hot, the altitude was harsh. We knew from the airport that it wouldn’t be easy for the players to cope in the encounter against Zambia.

The 1996 Atlanta gold medalist added that the Eagles must work harder if they want to overcome the Algerians in Uyo. “The defence needs to be improved on, I’m sure the Algerians will watch the match video against Zambia and they will see where the weakness is and that might be very dangerous. “We are good going forward but our defence is shaky and we might pay for it if we face a very technical team like the Algerians,” he added.

Buhari: FG keen on sports development Charles Ogundiya

resident Muhammadu Buhari has again reiterated the Federal Government’s resolve to continuously develop sports in the country. Speaking on Monday in Abuja at the opening ceremony of the 2016 Nigeria Army Sports Festival, the President, represented by the Minister of Interior, Lt. General Abdulrahman Dambazau, said it was high time the

Army took its rightful place in sports circle, while calling on the organisers to identify talents for the country. “We remain committed to ensuring that you are provided with the required resources and motivation,” he told the athletes. “The administration is also devoted to improving sport development in the country and taking adequate steps to ensure Nigeria continues to excel at international sports tournaments.”

Appeal Court fixes Nov. 9 Nigeria Sports Award to LMC: Dikko says arrest attempt outrageous introduce innovations has described the latest Musa Pam attempt by policemen to

nnovations will be introduced in this year’s Nigerian Sports Award – the 5th in the series, fixed for December 2nd at the Banquet Hall of Eko Hotels & Towers, Lagos, Kayode Idowu – the Managing Director of Unmissable Incentives has said. Idowu stated this on Tuesday at a press parley with the Sports Editors in the complex of HotSports Nigeria – a subsidiary of HS Media Group in Oregun – Lagos. He said, in addition to various precious awards given to winners in various categories, the organisers will this year, give awards to personalities, who have impacted positively on Nigerian sports in the last 20 years. He also revealed that

new brands have come onboard to sponsor the award thus broadening the horizon of the event to global level. “We are heading to where cars will be given out to award winners in the future, yes, why not?” he added. Earlier, Chairman/CEO HS Media Group, Mr. Taye Ige, said HotSports was partnering with Nigerian Sports Award to properly prospect it for commercial reward. “These are people who believe excellence in sports should be rewarded and they are doing exactly what they believe in. We are happy to be part of this dream and we implore the media to also give them the maximum support that they deserve,” Ige said.

Its right hand drive

riving in Zambia is right hand. This is no news as some countries including Australia and the United United Kingdom still have right hand drive For us with a background of left and drive country, it is better not to look at what is going on while on the road. On Saturday night, we were in a taxi and each time the driver moved it gave an impression that he was deliberately heading for a collision. it was scary.

Super Eagles defender, William Troost-Ekong (right)

R - L, MD Unmissable Incentives, Kayode Idowu, Chairman/CEO HS Media Group, Mr. Taye Ige and Group Sports Editor, Vanguard Media Limited Mr Tony Ubani

JOS

n Appeal Court sitting in Jos has again fixed November 9, 2016 to hear League Management Company’s appeal against an order of Jos High Court suspending the Nigerian Professional Football League. The Appeal Court had fixed October 11 to hear the case but has now shifted it. New Telegraph had visited the Appeal court Jos as early as 9am yesterday for the hearing, but was informed by the Registrar of the court that it had been shifted to November 9 and no reasoned was given for the postponement. Meanwhile, the LMC chairman, Shehu Dikko,

arrest him as outrageous and bad publicity for the national team. Two unidentified policemen in mufti had attempted to arrest Dikko at the Nnamdi Azikiwe Airport on Sunday night on his way from Zambia with the Super Eagles. “It was a bad publicity for the national team who just recorded a major victory on its way to the 2018 World Cup. The scenario whereby the policemen fired gunshots really scared many of the players who expressed reservation about honouring national team assignments in future because they felt their lives were not secured,” he said.

Rohr considers Etebo for Algeria tie C D Feirense of Portugal star Oghenekaro Etebo could play his first game under new Super Eagles coach Gernot Rohr when the national team takes on Algeria in a World Cup qualifier on November 12. The German gaffer is a big admirer of the attacking midfielder and had mulled over the idea of calling him up to his squad ahead of the battle of Ndola, but the player’s fitness and residence permit issues prevented him

from naming him, Allnigeriasoccer.com scooped. The good news from Portugal is that Etebo has been informed by the authorities that his application for a residence permit will be granted on or before October 15. Furthermore, the former Warri Wolves’ poster boy is now fit and showed he had not lost his goalscoring touch by netting in CD Feirense’s 3-0 win over Tondela in the League Cup on Sunday.

WORLD \ NEWS

SPORT

WEDNESDAY, OCTOBER 12, 2016 NEW TELEGRAPH

conflict: Putin halts NFF begs local coaches, Syria France visit amid row pays half outstandings R

Adeolu Johnson ABUJA

t took the Nigeria Football Federation two days after the Super Eagles’ 2-1 win over Zambia in the 2018 World Cup qualifiers to raise transport fare for the team’s assistant coaches back to their respective homes. Although the players were paid their outstanding allowances and ticket refunds, the coaches and the backroom staff were left stranded at the Bolton Apartment Hotel base of the team throughout Monday as the NFF President, Amaju Pinnick, the General Secretary Dr. Mohammed Sanusi, Chairman Technical Committee Mr. Chris Green and other board members begged the coaches. Pinnick and the NFF accounts staff on more than two occasions were seen entering the hotel to placate the affected coaches and backroom staff to tarry a bit as efforts were been made to pay them their outstanding money. Inside sources disclosed to our correspondent that the coaches and backroom staff had to stay one more night at the hotel before they were later given something. The coaches were seen at the lobby of the hotel on Monday afternoon waiting for the accounts clerk who was said to had gone to town to mop up some

money for them. Relief, our correspondent gathered, came on Tuesday evening as part of their past allowances were cleared before they went back to their different destinations. When our reporter asked some of the coaches what still kept them in the hotel, they said they were waiting for further instructions and their allowances. Eagles Manager Genot Rohr on his part said he did not want to make comments about money as everybody’s focus was on the World Cup ticket. The players had immediately after the match in Zambia collected their allowances leaving out the coaching crew, a situation which was a sharp contrast to practice in the past.

ome Nigerian male players have fought their ways into the quarter finals of the doubles event of the first leg (Futures 5) in the ongoing 16th edition of Governor’s Cup Lagos Tennis Championship. Henry Atseye and Enosoregbe Clifford will play against the duo of Tunisian Moez Echargui and Egyptian Karim-Mohamed Maamoun in Wednesday’s quarterfinals at the Lagos Lawn Tennis Club, Onikan, while Thomas Otu pairs with Kofi Tsatsu Segbedzie from Ghana and they will slug it out with Spanish Lopez-Perez Enrique and Boy Westerhof of The

Netherlands. Meanwhile, the quest of some Nigerian players to make impact in the singles event, especially the men’s, is getting tougher by the day as some of them who made it to the second round will have to contend with war on court if they want to play in the quarter finals. Christopher Anefu will play against tournament’s number 3 from Egypt, Karim-Mohamed, while Atseye will have his hands full when he faces Westerhof, who is number six seed. Enosoregbe will battle Maciej Smola from Poland, while Sylvester Emmanuel will face number seven seed, Alexis Klegou from Benin Republic.

Bassey bags more FIFA, CAF appointments Samuel Ebhodaghe

orld football –governing body, FIFA, and the Confederation of African Football, have handed more and even weightier duties to highly –respected Nigerian football administrator Paul Bassey. The Sole Administrator of Akwa United FC was in action as the Security Officer for the 2018 FIFA World Cup qualifying match between Congo and Egypt in Brazzaville on Sunday. The Pharaohs won that match 2-1. Now, Bassey has been called upon again, this time for both a 2018 FIFA World Cup qualifier

Mr Hollande would attend only one event with Mr Putin during the visit planned for 19 October - a working meeting on Syria, according to the sources. But after this Russia "let it be known that it wanted to postpone the visit", they added. A spokesman for Mr Putin confirmed the trip had been cancelled, adding that the visit would take place when it becomes "comfortable for President Hollande". Despite this Mr Hollande has said he will meet Mr Putin at "any time" if it would "further peace". The development comes a day after Mr Hollande told French TV that

and the 2016 CAF Champions League final, second leg match. He has been appointed by CAF as General Coordinator for the CAF Champions League final leg between Zamalek of Egypt and Mamelodi Sundowns of South Africa, set for Egypt on the weekend of October 21-23. The match in Cairo will be Bassey’s fifth involvement in CAF Club final match (CAF Champions League/CAF Confederation Cup) in three years. Next month Bassey will serve as Security Officer at the 2018 FIFA World Cup qualifying match between Guinea and Democratic Republic of Congo on November 13.

prosecutions over Syria could take place in the International Criminal Court (ICC). "These are people who today are the victims of war crimes. Those that commit these acts will have to face up to their responsibility, including in the ICC," he said. Yesterday UK Foreign Secretary Boris Johnson said Mr Putin's strategy of restoring Russia's greatness was at risk. "If Russia continues in its current path then I believe that great country is in danger of becoming a pariah nation," he told the UK parliament during a debate on the Syrian crisis.

Chancellor Merkel told Germans that Africa's wellbeing was a priority

Pinnick

Lagos Gov’s Cup: Nigerians play in doubles quarterfinals Ajibade Olusesan

ussia's President Vladimir Putin has cancelled a planned visit to France amid a row over Syria. He had been due to meet French President Francois Hollande and open a new Orthodox church later this month. But after France's government said talks would be confined to Syria, the visit was halted, French presidential sources said. Monday, Mr Hollande suggested Russia could face war crimes charges over its bombardment of Syria's city of Aleppo. The French presidency had told the Russians

erman Chancellor Angela Merkel has emphasised that Africa will be a priority when her country takes over the G20's revolving presidency at the end of 2016. She was speaking in Ethiopia on the final stage of a tour, which also included Mali and Niger. Merkel has made pledges of development as well as military aid on her trip. She has told Germans it is important to stem migration at its source. Germany took in more than one million irregular migrants last year - many from war-ravaged Syria, Iraq and Afghani-

Africa 'a priority' as Germany aims to stem migration stan, but also many fleeing economic hardship across Africa. Migration is expected to be a key issue in next year's federal elections, though Merkel has not yet declared whether she will seek a fourth term as chancellor. Ethiopia hosts 700,000 refugees - one of the highest rates in Africa, according to the UN refugee agency. Some 90 per cent of migrants who reach Libya - a jumping-off point for the perilous sea crossing to Europe - are said to pass

through Niger. And on her visits to Mali and Niger earlier in the week, Mrs. Merkel highlighted the deadly desert crossing that African migrants undertake even before reaching the Mediterranean. In coming days, she will also host leaders from Chad and Nigeria back home in Germany. Commentators say this flurry of diplomacy illustrates how deeply the migration crisis is affecting the foreign policy of arguably the European Union's most powerful nation.

Samsung stops Galaxy Note 7 production

outh Korean tech giant Samsung has permanently ceased production of its highend Galaxy Note 7 smartphones after reports of devices it had deemed safe catching fire. The firm had already reduced Galaxy Note 7 production volumes. Owners are expected to be able to return the phones for a refund or an exchange for a different Samsung phone. The firm had earlier said it would stop sales of the phone. "We recently readjusted the production volume for thorough investigation and

quality control, but putting consumer safety as top priority, we have reached a final decision to halt production of Galaxy Note 7s," the company said. "For the benefit of consumers' safety, we stopped sales and exchanges of the Galaxy Note 7 and have consequently decided to stop production." Earlier, consumer tech analyst Caroline Milanesi of Creative Strategies told the BBC that Samsung should "call it a day" on production of the Galaxy Note 7 to limit long-term risk to the brand. However, South Korea's fi-

nance minister had warned that the country's exports would be hurt if the phone model was scrapped. In September, Samsung recalled around 2.5 million phones after complaints of exploding batteries. It later insisted that all replaced devices were safe. However, that was followed by reports that those phones were catching fire too. A Kentucky man said he woke up to a bedroom full of smoke from a replaced Note 7, days after a domestic flight in the US was evacuated after a new device started emitting smoke in the cabin.

On Marble

“Protest beyond the law is not a departure from democracy; it is absolutely essential to it.”

Sanctity of Truth

Bola Bolawole Are judges above the law?

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

–Howard Zinn

WEDNESDAY, OCTOBER 12, 2016

}16

N150

The mob and poisoned chalice

here are fascists within the fold of the legal profession. Some of them are in the profession for want of any other profession or endeavour. Some of the fascists stumbled on the profession having failed to study the course of their choice or having been denied the course of their choice. These classes of persons remain in the legal profession with no iota of fidelity to its core tenets and ideals. Some of them think and act like military dictators and the concept of rule of law and due process make little or no meaning to them. Some of these “strangers” hunger for “quick justice” and the presumption of innocence and due process are alien to them and at best a distraction. To some of these emergency legal practitioners persons suspected of penal infringement must be presumed guilty until they prove their innocence. The arrest of judges of the various superior courts of record in Nigeria by officers of the Department of State Services has brought to the fore the fact that some of our colleagues in the legal profession are “cudgel wielding” and have contempt for the profession and its ideals. Every lawyer trained in the finest traditions of the common law must be outraged at the midnight arrest of some serving judicial officers or what the Nigerian Bar Association described as “unholy event and Gestapo-style operation that took place on the 7th and 8th October 2016. Unfortunately, some of our colleagues in the legal profession have joined the mob and have convicted some of the Judges without their being arraigned for any offence. Some of our colleagues joined some “uninformed mob” on the social media to pass judgment on the arrested judges. If the “ordinary” people of Nigeria do not understand procedure and the niceties of the rule of law and due process and the concept of presumption of innocence, they can be forgiven. But a legal practitioner that ought to know the constitutional, legal and procedural issues involved in the arrest of serving judicial officers cannot be pardoned or excused. The social media has been bursting with opinions, commentaries, analysis, explanations, propaganda, outright lies and distortions relating to the propriety or otherwise of the arrest of the serving and retired Justices and Judges on “allegation of corruption” and whether the Department of State Services is constitutionally empowered to arrest serving judicial officers and if they are whether they have the right to carry out arrest using “Gestapo” style tactics. The “fight” in the social media is not just between some members of the public and members of the legal profession. The fight is also amongst members of the legal profession. Amidst the confusion and distortions, there is an agreement on certain facts. Nobody disputes the fact that the Department of State Services arrested serving Justices of the Supreme Court

Hard Choices FESTUS OKOYE festokoye2003@yahoo.com 0805-448-0565 (sms only)

Their fate has already been sealed in the media and the court of public opinion

Chief Justice of Nigeria, Mahmud Mohammed

and Court of Appeal as well as Judges of the Federal and State High Courts. There is no dispute as regards the fact that the arrest of the Judicial Officers took place late in the night. There is no dispute that the Department of State Services arrested the judicial officers on “suspicion of corruption”. There is no dispute as to the fact that those arrested are in custody or have been released on bail awaiting possible arraignment. The “fight” as I understand is anchored on the perception that “members of the legal profession are giving the impression that Justices and Judges are above the law” and should be “invited” and not arrested. Some of our compatriots interprete the outrage by majority of lawyers on the arrest of the judicial officers as self serving and insensitive to the damage done to the nation by corruption and purveyors of corruption. However, there are other angles and sides to the raging controversy. There is the dispute as to the legal and constitutional power of the Department of State Services in affecting the arrest of serving Judicial Officers on “allegation of corruption” rather than allowing the National Judicial Council to exercise disciplinary control over them. There is dispute as to what was recovered and in what manner they were recovered. And there is dispute as to the proper organ or agency of government that should investigate and carry out arrest on issues of corruption. Before going into the main issues involved herein, permit me to dispose

of a preliminary point. The point and the fact is that without prejudice to the outcome of the current investigation, arraignment, trial, conviction or acquittal of the affected Judicial Officers their fate has already been sealed in the media and the court of public opinion. These Judicial officers have been tried and convicted in the court of public opinion. Therefore the question of their arrest, arraignment and trial and possible conviction or acquittal is now at the realm of academic or theoretical excursion. In Nigeria, legal niceties and the fine prints of due process seems to be alien to our mental makeup. The fact that someone has been arrested, monies recovered and the issues are in the papers are enough for us to pass a guilty verdict. Whatever happens thereafter in terms of arraignment, trial and acquittal is immaterial and may come after five to ten years. By then, the person’s name and reputation had been soiled and the person’s career ruined. I will also dispose of another preliminary issue. I believe that the Nigerian Bar Association (NBA) under the leadership of Abubakar Balarable Mahmoud, SAN will not shield any Judicial Officer that abuses the oath office of judicial officers. I believe that the fight against corruption is a collective fight for the destiny and wellbeing of the Nigerian society. The point the Bar is making and which is legitimate and rational is that we must fight corruption and other societal ills within the ambit of the law and the constitution. The danger in cutting corners with the constitution and the law is that you put yourself in the same pedestal with the person you are investigating. Moreover, when you breach rules and procedures, you wittingly or unwittingly give the suspect a window to evade justice. So, the Bar is not shielding anybody and the Bar has made it clear that it will assist authorities and institutions of democracy fight corruption and expose its members that aid and abet corruption. The stark reality however is that we are dealing with the top echelon of our judiciary. We are dealing with an institution that has disciplinary procedures and mechanisms. We are dealing with

an institution that has its own “Head of State” in the person of the Chief Justice of the Federation. We are dealing with persons we refer to as my “Lord”. We are dealing with persons that are still serving as Judicial Officers. We are also dealing with persons who know the law. The least we can do in the circumstances is to follow the law and the constitution in perfecting their disciple, arrest and prosecution. It doesn’t trip me that a Justice of the Supreme Court was arrested at an “unholy” hour in the night. Any normal person will panic at the sound and sight of an armada of heavily armed persons storming a house at the dead of the night. It is also part of our institutional confusion that we create institutions and do not allow them to work. We create and empower an Agency and name it “Independent Corrupt Practices and Other Related Offences Commission” and they cannot be trusted to investigate, arrest and prosecute persons suspected of corrupt practices. We have the Economic and Financial Crimes Commission and we cannot trust its officers to arrest persons suspected of economic and financial crimes. We have the Nigerian Police Force and we cannot empower them, recreate them and trust them to do the work assigned to them by the law and the constitution. Rather, it is an Agency that has been legally empowered to look after the internal security of the country that is arresting persons suspected of corruption. More fundamentally, we must decide on the fate of election petitions and election tribunals if we are to get to the root of the present challenges facing the judiciary. Elections petitions and election tribunals and what happens therein form the locus of the present predicament of the judiciary. The politicians have a franchise on the poisoned chalice of election petitions and some Judges are addicted to the hemlock contained therein.

HIGH CHIEF

PROSECUTE KILLER HERDSMEN, SULTAN TELLS FG

- Yes o! No one should be above the law!

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